Beating street estimates, Mahindra & Mahindra Ltd (M&M) reported a robust 24% year-on-year jump in consolidated profit after tax (PAT) at Rs 4,083 crore for the quarter ended June 2025 (Q1 FY26). Consolidated revenue for the company grew 22% to Rs 45,529 crore during the reported quarter.
The homegrown auto major’s performance was powered by strong performances in its auto, farm, and services businesses. M&M maintained its leadership in the SUV segment (27.3% revenue market share, up by a massive 570 basis points), light commercial vehicles under 3.5 tons (54.2% market share, up 340 basis points), tractors (45.2%, highest ever quarterly share), and electric three-wheelers (38.7%).
The auto segment saw a 17% rise in volumes at 247,000 units, with consolidated revenue up by 31% to Rs 25,999 crore and profit surging by 32% to Rs 1,760 crore. The company’s utility vehicle volume stood at 152,000 units.
Anish Shah, Group CEO & Managing Director, M&M Ltd, said that Q1 F26 has been an excellent quarter, with broad-based growth across all its businesses.
“The operating excellence in our Auto and Farm businesses is evident in continued market share gains and margin expansion. TechM is witnessing momentum on deal wins, sustaining cost discipline and is moving steadily towards its F27 margin objectives. MMFSL’s calibrated approach to growth is manifesting in stable asset quality, with GS3 under 4% as committed. Our Growth Gems are progressing well on their value creation journeys,” added Shah.
While Mahindra managed to beat a challenging domestic market and negative geopolitical cues, its rival in the passenger vehicle market – Hyundai Motor India (HMIL) – had a difficult June quarter.
Hit by lower sales, HMIL on Wednesday reported an 8% year-on-year decline in its consolidated net profit at Rs 1,369 crore for the first quarter ended June 30. Total income declined to Rs 16,628 crore for the June quarter as against Rs 17,568 crore in the year-ago period.
Unsoo Kim, Managing Director of HMIL, said, “We continued our stated strategy of “Quality of Growth” in the first quarter of FY 2026 with balance between domestic & exports, market share and profitability. This strategy helped us to sustain strong EBITDA margin of 13.3% during the quarter, despite tough macro-economic environment.”
He added, “Moving forward, we anticipate gradual recovery in domestic demand sentiments, driven by onset of monsoon & festive season coupled with government policy measures, while on the exports front, we are confident to maintain a positive momentum, in line with our growth commitments.”