NEW DELHI: On the back of strong sales for SUVs and tractors, Mahindra & Mahindra on Tuesday reported a 42% year-on-year surge in consolidated profit after tax at 4,668 for the fourth quarter ended March 31, 2026 (Q4FY26). Consolidated revenue from operations for the Mumbai-based conglomerate stood at Rs 54,982 crore in Q4FY26 as against Rs 42,599 crore in the year-ago quarter.
For the full financial year 2026 (FY26), consolidated PAT was at Rs 17,099 crore as compared to Rs 12,929 crore in FY25, up 32%. Consolidated revenue from operations in FY26 stood at Rs 1.98 lakh crore as against Rs 1.59 lakh crore in FY25.
Anish Shah, Group CEO & Managing Director, said that FY26 has been a defining year marked by strong execution and breakthrough performance across several Group companies, despite geopolitical headwinds & several disruptions through the year.
“Auto & Farm further strengthened their leadership, supported by sustained customer demand for our differentiated products & operational discipline. TechM reported healthy traction in key new deal wins despite a challenging global environment. MMFSL pivoted to growth on the back of stable asset quality. Our Growth Gems have demonstrated significant momentum. The Group is well poised to accelerate in these uncertain times,” added Shah.
M&M stood at the number one player in SUVs with a revenue market share at 25.3%, up 260 bps. Its share in the tractor segment improved to 43.6% and in LCVs (less than 3.5T), the market share came at 52.3%.
Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), said, “In Q4’FY26, the SUV Revenue share increased by 60 bps YoY, retaining the No 1 position. M&M is now the 5th largest exporter for PV + CV in F26. Tractors gained 90 bps in Q4 YoY, with a full-year market share of 43.6% gaining 30 bps. Tractors achieved highest ever billing of 5 lakh+ in FY26. The market gains have been achieved by delivering strong margin performance.”
Going forward in FY27, Jejurikar said M&M is aiming for mid to high teens growth in its SUV portfolio, while the tractor industry is expected to grow in mid-single digits. To support growth, M&M said it is scaling up production capacity in phases.