Mahindra & Mahindra Limited (M&M) reported consolidated results for the year ended 31 March 2026. For FY26 consolidated profit after tax was Rs 170,990 mn, an increase of 35 per cent excluding prior year land sale gains, while Q4 PAT was Rs 46,680 mn, up 42 per cent. Consolidated FY26 revenue was Rs 1,986,390 mn, up 25 per cent; Q4 revenue was Rs 549,820 mn, up 29 per cent.

The board declared a dividend of Rs 33.0 per share, a 30 per cent increase. M&M said auto and farm businesses sustained leadership with revenue growth of 27 per cent and profits rose 25 per cent, and financial services assets under management grew 12 per cent. Tech Mahindra delivered EBIT improvement of two point nine percentage points and Growth Gems businesses recorded PAT growth of 50 per cent.

In the automotive segment M&M reported Q4 volumes of 307,000 units, up 21 per cent, and SUV revenue market share of 25.3 per cent, up two point six percentage points. Standalone Q4 PBIT was Rs 29,550 mn, up 28 per cent, and consolidated automotive PAT for FY26 stood at Rs 78,420 mn, up 33 per cent. UV volumes rose 20 per cent for the year.

The farm equipment business reported Q4 volumes of 120,000 units, up 36 per cent, with a market share of 42.1 per cent, up zero point nine percentage points, and standalone FY26 PBIT of Rs 72,060 mn, up 35 per cent. Consolidated farm PAT for FY26 was Rs 42,980 mn, up 13 per cent. The release said three international farm exits were completed in line with capital allocation discipline.

Services businesses saw consolidated FY26 revenue of Rs 436,980 mn, up 17 per cent, and PAT growth of 54 per cent, with MMFSL AUM and GS3 at three point four one per cent supporting asset quality. Mahindra Lifespaces reported residential pre-sales of Rs 16,330 mn, up 55 per cent, and Mahindra Logistics delivered full year profitability. Management emphasised strong cash generation and balance sheet strength while noting forward looking risks.