M&M gains 4% post Q4 nos; surges 22% in 4 weeks. Analysts see more upside

Mahindra & Mahindra share price today: Shares of Mahindra & Mahindra (M&M) moved higher by 4 per cent to ₹3,043.65 on the BSE in Monday’s intra-day trade after the company delivered a strong growth on the back of stellar execution. 

 

In the past four weeks, the stock price of M&M has appreciated by 22 per cent. It has recovered 29 per cent from its previous month low of ₹2,360.45 touched on April 7, 2025. The stock had hit a record high of ₹3,276.30 on February 10, 2025.

 

At 01:13 pm; M&M was quoting 3 per cent higher at ₹3,006.90, as compared to 0.33 per cent rise in the BSE Sensex. The average trading volumes on the counter more than doubled. A combined 2.96 million equity shares have changed hands on the NSE and BSE.  READ STOCK MARKET LIVE UPDATES TODAY HERE

 

M&M Q4 result

 

Automaker M&M reported a 22 per cent rise in standalone profit after tax (PAT) at ₹2,437 crore for the fourth quarter (Q4) of the financial year 2024-25 (FY25), from ₹2,000 crore reported during the same period last year. Sequentially, net profit for the fourth quarter dropped 19 per cent from ₹2,964 crore. 

 

Revenue from operations on a standalone basis grew by 25 per cent to ₹31,353 crore year-on-year (YoY) from ₹25,183 crore. Sequentially, revenue saw a marginal rise of 3 per cent from ₹31,353 crore.

 

M&M continued its outstanding performance for the year in Q4FY25, with a significant gain of 310 bps YoY in SUV revenue share, and 480 bps YoY increase in LCV (< 3.5T) market share. In Tractors, the company reached its highest-ever Q4 market share of 41.2 per cent, gaining 180 bps YoY.

 

Meanwhile, the board of directors of M&M has recommended a dividend of ₹25.3 (506 per cent) per ordinary equity share of the face value of ₹5 each.

 

Tractor industry performance 

 

The tractor industry has been witnessing good momentum on account of favorable weather conditions, good reservoir levels, strong Rabi outlook and positive terms of trade for farmers. The harvest season has commenced in the northern regions and is expected to progress smoothly across the country. Delivery momentum picked up in the last week of March on account of festivities and the momentum is expected to continue in the June quarter (Q1FY26) on expectations of a very good Rabi crop harvest and improved cash flow in the hands of the farmers.  ALSO READ | JLR likely resumes auto exports to the US; Tata Motors shares climb 2%

 

The harvest season is progressing very well and is expected to conclude shortly. Bolstered by the Chaitra Navratri festival in the first week of April, retail momentum is very strong. This is well supported by good crop prices and high procurement at Mandis, leading to good cash flows with farmers. IMD's prediction of above normal southwest monsoon is hugely positive for the overall Agri economy and tractor industry, M&M said.

 

ICICI Securities sees more upside in M&M’s stock price

 

The Nifty Auto index witnessed buying demand from the vicinity of long-term rising trendline (joining the lows of Mar-22 & Mar-23) after correcting 30 per cent from highs of September 2024. In the current scenario, the index has witnessed a falling trendline breakout, indicating structural turnaround. Within this space, the brokerage remains constructive on M&M, as it witnessed buying interest from the lower end of 11 months consolidation, indicating supportive efforts at lower levels.

 

Going ahead, technical analysts at ICICI Securities expect the stock to maintain the same rhythm and gradually move towards ₹3,220 being the previous resistance mark on a closing basis. The brokerage firm maintains a positive view on M&M amidst its consistent positive surprise on new product launches and ability to grow ahead of market and persistent focus on capital efficiency (RoE>=18 per cent).

 

About Mahindra & Mahindra

 

Mahindra & Mahindra (M&M) is a conglomerate with presence in auto, IT, financial services, logistics, hospitality and real estate among others. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. M&M is India’s largest tractor manufacturer (~44 per cent FY25 market share) & second largest commercial vehicle (CV), fourth largest passenger vehicle (PV) maker (28.1 per cent, 12.8 percent - FY25 market share).