M&M Q4 results 2026: Auto major Mahindra and Mahindra (M&M), on Tuesday, 5 May, reported a healthy 41.65% year-on-year (YoY) rise in its consolidated profit to ₹4,667.57 crore for the January-March quarter of the financial year 2026 (Q4FY26).
In the corresponding quarter of the previous financial year, the company’s profit was ₹3,295.17 crore.
Sequentially, or on a quarter-on-quarter (QoQ) basis, M&M’s profit saw a minor dip of 0.15% as in Q3FY26, the profit was ₹4,674.64 crore.
revenue from operations for Q4FY26 stood at ₹54,891.55 crore, up nearly 29% from ₹42,585.67 crore in Q4FY25. Sequentially, revenue increased by 6.4% from ₹51,579.95 crore in Q3FY26.
For the entire financial year 2026 (FY26), consolidated revenue increased by 24.6% YoY to ₹1,97,792.78 crore, while profit jumped 32.25% YoY to ₹17,098.85 crore.
Meanwhile, M&M’s board approved a final dividend of ₹33 per share, with a face value of ₹5 each, for the financial year 2026. The dividend in FY26 is higher than the ₹25.3 per share dividend declared in FY25. The record date for the final dividend is Friday, 3 July 2026.
“FY26 has been a defining year marked by strong execution and breakthrough performance across several group companies, despite geopolitical headwinds and several disruptions through the year,” said Anish Shah, Group CEO & Managing Director, M&M.
“The auto and farm segment further strengthened its leadership, supported by sustained customer demand for our differentiated products and operational discipline. Tech Mahindra 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,” Shah said.
M&M Q4 results: key highlights
The auto segment
The auto segment’s Q4 volumes stood at 3,07,000, including sales by LMM and MEAL, rising 21%, while UV volumes stood at 1,84,000 during the quarter.
Q4 SUV revenue market share increased by 60 basis points to 24.5%.
Standalone Q4 PBIT rose by 28% to ₹2,955 crore, while PBIT margin stood at 9.5%.
The segment’s consolidated Q4 revenue rose by 32% to ₹34,294 crore, while PAT jumped by 49% to ₹2,553 crore.
The farm segment
The farm segment’s Q4 volumes jumped 36% to 1,20,000, while market share rose by 90 basis points to 42.1% during the quarter.
Consolidated Q4 revenue of the farm segment saw a healthy 26% rise to ₹10,022 crore, while PAT inched up by just 1% to ₹768 crore.
“In Q4FY26, the SUV revenue share increased by 60 bps YoY, retaining the number 1 position. M&M is now the fifth-largest exporter of 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 the highest-ever billing of 5 lakh+ in FY26. The market gains have been achieved by delivering strong margin performance,” said Rajesh Jejurikar, executive director and CEO (Auto and Farm Sector), M&M.
Services segment
Consolidated Q4 revenue of the services segment increased by 23% to ₹12,147 crore, while PAT jumped 64% YoY to ₹1,348 crore.
The Q4 exit assets under management (AUM) of Mahindra & Mahindra Financial Services Limited (MMFSL) rose by 12%.
Tech Mahindra Q4 EBIT margin improved by 326 basis points. Mahindra Lifespaces Q4 residential pre-sales at ₹1,633 crore were up 55%.
Club Mahindra Q4 resort revenue increased by 11% to ₹120 crore, AUR (average unit realisation) jumped by 83%, while room inventory grew by 213 to 6,228 keys.
Mahindra Logistics Q4 revenue rose by 14% to ₹1,791 crore.
was 2.36% up at ₹3,179 around 1:10 pm on Tuesday.
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