M&M gains after Q3 PAT jumps 33% YoY to Rs 3,931 cr

Mahindra & Mahindra (M&M) added 1.35% to Rs 3,725 after its standalone net profit jumped 32.62% to Rs 3,931.30 crore in Q3 FY26 as against Rs 2,964.31 crore reported in Q3 FY25.

Total income increased by 26.93% year on year to Rs 39,639.45 crore in the quarter ended 31 December 2025.

Profit before tax was at Rs 5,202.27 crore during the quarter, up 31.10% from Rs 3,967.90 crore posted in Q3 FY25.

EBITDA grew by 19% to Rs 5,717 crore in Q3 FY26, compared with Rs 4,810 crore recorded in the similar quarter last year.

Total vehicle sales grew 23% to 3,02,238 units from 2,45,499 units in the corresponding quarter last year. The tractor segment delivered a strong performance, with sales rising 23% YoY to 1,49,567 units from 121,774 units in Q3 FY25.

On a consolidated basis, the companys net profit jumped 46.97% to Rs 5021.47 crore on 26.44% rise in total income to Rs 52,958.27 crore in Q3 FY26 over Q3 FY25.

Dr. Anish Shah, Group CEO & MD, said, We are delighted to report solid operating performance across the group in Q3F26, reflecting our strong focus on growth coupled with disciplined execution. Auto & Farm has maintained its leadership position on the back of steady customer demand, strong product acceptance and unwavering focus on operational excellence. TechM continues to make meaningful progress. Mahindra Finance delivered another solid quarter with meaningful PAT growth while maintaining strong asset quality. We are especially pleased to see breakout performance from two of our growth gems, Mahindra Logistics and Mahindra Lifespaces.

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), said, Auto and Farm businesses delivered strong performance in Q3FY26. We have achieved a 90 bps YoY increase in SUV revenue share and 10 bps YoY increase in LCV (< 3.5T) market share in Q3. Our tractor business gained 20 bps YoY to reach an impressive 44.1% share for YTD FY26. Our new launches XEV 9S, and the XUV 7XO have received very positive response in the market.

Amarjyoti Barua, Group Chief Financial Officer, said, Our Q3 consolidated results reflects the strength and depth of our diversified portfolio. Our services businesses continue to increase their contribution to the overall results. Our results are also translating into a very strong Balance Sheet.

M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

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