Mahindra & Mahindra Reports 7% Profit Growth for Q1 FY27

Mahindra & Mahindra reported a 7% increase in standalone net profit to ₹3,685 crore for the first quarter of FY27 ending June 30, exceeding market expectations. Total revenue rose 23% to ₹41,920 crore, with automotive and farm equipment revenues increasing by 24.38% and 19.16% respectively. These gains helped the company offset commodity inflation and the economic impacts of the Middle East war, supported by price hikes for SUVs and commercial vehicles implemented in April.

Executive Director Rajesh Jejurikar reported that the XEV 9S became the highest-selling electric vehicle in India by volume. He also noted that the tractor business expanded its market share to 44.9%.

To sustain this growth, the company is aggressively scaling production. Mahindra & Mahindra aims to reach a capacity of 92,000 passenger vehicle units per month by the end of FY28. Additionally, the company announced a new greenfield plant in Nagpur for FY29, with the goal of doubling overall capacity by FY31.