New launches, premiumisation to drive M&M's continued outperformance

On track for continued outperformance in FY26 with strategic launches, premiumisation

Aided by improved margins in its key segments and higher other income, automotive (auto) major Mahindra & Mahindra (M&M) reported better-than-expected earnings in the July-September quarter (Q2). Brokerages expect the company to continue outperforming in the auto segment, driven by launches and the strong trajectory of healthy bookings. The stock has gained 24 per cent over the past year, compared to the peer index Nifty IT’s returns of about 13 per cent.

 

The company posted a 21 per cent year-on-year (Y-o-Y) growth in revenues, powered by a 16 per cent rise in volumes, while the remaining