Mahindra & Mahindra Q1 Profit Jumps 37% as Margins Expand
The automaker reported robust quarterly earnings, with profit growth significantly outpacing a strong rise in revenue.
Mahindra & Mahindra's Q1 FY27 earnings show a 37% yearly profit surge, driven by a 70-basis-point margin expansion. Revenue grew by nearly 28% year-on-year.
Mahindra & Mahindra delivered a powerful start to fiscal 2027, with profit growth accelerating well ahead of an already strong revenue increase. The company's earnings momentum reflects both robust demand and improving profitability.
The automaker's revenue for the quarter ended June 2026 rose 27.8% year-on-year to ₹58,188 crore. Profit after tax grew even faster, surging 37% to ₹5,998 crore. This profit outperformance lifted the net profit margin to 10.3%, a 70-basis-point improvement from the same quarter last year. Sequentially, both revenue and profit continued their upward climb, increasing 5.8% and 14% respectively from the March quarter.
A look at the recent quarterly performance shows a clear trajectory of growth.
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin (%)
| Metric | CurrentQ1 FY27 | PreviousQ4 FY26 | Same quarter LYQ1 FY26 |
|---|---|---|---|
| Period | Quarter ended June 2026 | Quarter ended March 2026 | Quarter ended June 2025 |
| Revenue (₹ Cr) | 58,187.57YoY +28% | 54,981.91 | 45,529.19 |
| Profit (₹ Cr) | 5,997.56YoY +37% | 5,259.91 | 4,376.58 |
| Net Profit Margin (%) | 10.3YoY +7.3% | 9.6 | 9.6 |
Key Points
- The trailing-twelve-month (TTM) net profit margin stands at 9.6%, indicating the latest quarter's margin is a recent high.
- The company maintains a strong return on equity of 22.0%.
- Over the past three years, the stock has delivered a compound annual growth rate of 30.4%, significantly outpacing the 5% gain over the last year.
Despite the strong operational performance, the stock trades at a price-to-earnings ratio of 19.3, a notable discount to the industry average of 27.4. The latest results demonstrate that M&M's earnings power is building, setting a high bar for the quarters ahead.
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· M&M
(BSE)
ISIN: INE101A01026
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