Mahindra & Mahindra Stock Price - ₹3,150.00 | Automobiles

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Company insights, generated from the most recent coverage.

Citi favors M&M for SUV dominance (50% growth) and rural recovery potential, looking through temporary tractor estimate misses.
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Tractor growth slowed to 5% YoY reflecting rural demand normalization post-FY26 surge, while robust 50% UV growth offsets softness in farm equipment.
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Export strategy focused on SUVs, LCVs, and three-wheelers offers better product-market fit for emerging markets compared to passenger vehicles, supporting sustainable international expansion.
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The Quarter story

The two most recent quarterly results, compared side-by-side.

Mahindra & Mahindra drives strong EV profitability and tech growth while navigating margin pressure in farm and commercial vehicles.

BEV PBIT turns from -₹101 Cr to ₹288 Cr from Q1 FY26 to Q1 FY27, marking a clear profitability inflection.

Farm PBIT margin drops from 19.8% to 14.2% from Q1 FY26 to Q1 FY27, indicating margin compression.

EV sales volume rises from 19,254 units to 35,541 units from Q1 FY26 to Q1 FY27, showing accelerating electric adoption.

LCV market share falls from 54.2% to 52.0% from Q1 FY26 to Q1 FY27, signaling intense segment competition.

BEV EBITDA margin expands from 3.6% to 11.3% from Q1 FY26 to Q1 FY27, highlighting successful cost optimization.

SUV revenue market share declines from 27.3% to 25.0% from Q1 FY26 to Q1 FY27, reflecting competitive market dynamics.

Tech EBIT margin grows from 11.1% to 14.4% from Q1 FY26 to Q1 FY27, confirming consistent software profitability.

Core tractor PBIT margin softens from 20.7% to 18.6% from Q1 FY26 to Q1 FY27, showing slight profitability pressure.

Consolidated ROE climbs from 20.6% to 23.0% from Q1 FY26 to Q1 FY27, reflecting efficient capital utilization.

Contract manufacturing EBITDA margin moves from 0.7% to 0.9% from Q1 FY26 to Q1 FY27, indicating thin but stable returns.

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In the news

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Mahindra & Mahindra