Mahindra & Mahindra
Financial Performance
Mahindra & Mahindra Revenue & Financials
Revenue
~$23B (FY2026)
Market Cap
$40B
Net Income
~$2B
Employees
26,765
What is Mahindra & Mahindra's revenue?
Mahindra & Mahindra had ~$23B in revenue for fiscal year 2026, up 23.5% from 2025. Net income was ~$2B.
- Latest revenue
- ~$23B (FY2026)
- Year-over-year
- +23.5%
- Growth rate (CAGR)
- 21.6% over 4 years
- Peak revenue
- ~$23B (FY2026)
- Years of data
- 5
- Employees
- 26,765
- How much profit does Mahindra & Mahindra make?
- Mahindra & Mahindra reported net income of ~$2B for fiscal year 2026. mahindra.com
- How many employees does Mahindra & Mahindra have?
- Mahindra & Mahindra has about 26,765 employees.
Financial Analysis
FY26 was a record year. Consolidated revenue rose 25% to ~$23 billion (₹1,98,639 crore) and profit after minority interest rose 32% to ~$1.98 billion (₹17,099 crore) (35% excluding a FY25 land-sale gain), with EPS of ₹152.2 and RoE of 20.1%. The board recommended a dividend of ₹33 per share. Momentum continued into Q1 FY27 (April-June 2026): revenue grew 28% to ~$6.75 billion (₹58,188 crore) and profit rose 34% to ~$633 million (₹5,455 crore). Mahindra & Mahindra Limited is a colossal Indian multinational automotive manufacturing corporation, commanding a market valuation typically exceeding $35 billion.
Revenue Trend Analysis
YoY Change
+23.5%
4-Year CAGR
+21.6%
Peak Year
2026
Trend
Consistent Growth
Mahindra & Mahindra has 5 full fiscal year figures on this page, compounding at +21.6% annually over 4 years. The most recent year saw a 23.5% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at ~$23B. Of 4 comparable year-over-year steps, 4 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2026 | ~$23B | ~$2B | +23.5% | Mahindra & Mahindra FY26 results press release Fiscal year ended 2026-03-31. Consolidated income from operations up 24.8%; PAT after non-controlling interest. |
| FY2025 | ~$18.7B | ~$1.5B | +14.1% | Mahindra & Mahindra (NSE:M&M) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2025-03-31. |
| FY2024 | ~$16.3B | ~$1.3B | +15.3% | Mahindra & Mahindra (NSE:M&M) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2024-03-31. |
| FY2023 | ~$14.2B | ~$1.2B | +34.5% | Mahindra & Mahindra (NSE:M&M) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2023-03-31. |
| FY2022 | ~$10.5B | ~$763M | — | Mahindra & Mahindra (NSE:M&M) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2022-03-31. |
Click any row to see year details.
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Mahindra & Mahindra Revenue and Financial FAQ
What is Mahindra & Mahindra's annual consolidated revenue and profitability?
M&M reported FY26 (year to March 31, 2026) consolidated revenue of ~$23 billion (₹1,98,639 crore), up 25% from ~$18.5 billion (₹1,59,211 crore), and profit of ~$1.98 billion (₹17,099 crore), up 32%. In Q1 FY27 revenue was ~$6.75 billion (₹58,188 crore) and profit ~$633 million (₹5,455 crore).
What is M&M's market capitalization on Indian stock exchanges?
In late September 2026 M&M's market capitalization was roughly ₹3.3-3.8 lakh crore (about $40 billion), depending on the day's share price.
What is M&M's dividend distribution history and shareholder return policy?
For FY26 the board recommended a dividend of ₹33 per share, up 30% from the previous year.
What are the operating margins of Mahindra's Auto and Farm segments?
In FY26 the standalone Farm segment earned a PBIT margin of 19.9% and the standalone Auto segment 9.3% (10.5% excluding electric SUV contract manufacturing).
How did the exit from South Korea's SsangYong Motor impact M&M's financials?
Mahindra stopped funding loss-making SsangYong Motor, which entered court receivership in 2021. Removing that drag helped lift consolidated returns; FY26 RoE was 20.1%.
What is Mahindra's capital expenditure and EV investment budget?
Mahindra committed over $4.29 billion (₹37,000 crore) in capital expenditures and R&D between 2024 and 2027, with approximately $1.39 billion (₹12,000 crore) dedicated to expanding electric passenger vehicle production capacity at its new EV manufacturing hub in Chakan, Maharashtra.
What credit ratings does Mahindra & Mahindra hold from domestic and global agencies?
Mahindra & Mahindra holds top-tier AAA credit ratings with a Stable outlook from leading Indian rating agencies (CRISIL, ICRA, and India Ratings), reflecting its minimal debt, superior cash liquidity, and strong parentage.
Is Mahindra financially successful?
Yes, they are a massive, highly stable Fortune 500-level conglomerate. Their financial genius is diversification. If the highly cyclical automotive or agricultural sectors suffer a massive downturn (due to poor monsoon rains affecting Indian farmers), the massive, multi-billion dollar recurring revenue from Tech Mahindra (IT services) and Mahindra Finance (rural lending) perfectly stabilizes the entire corporate balance sheet.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Mahindra & Mahindra Revenue & Financials." CorpDigest, https://corpdigest.com/company/mahindra-and-mahindra/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Mahindra & Mahindra reported ~$23B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/mahindra-and-mahindra/financials" target="_blank" rel="noopener">CorpDigest — Mahindra & Mahindra financials</a></div>Related Financial Audits
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