Mumbai – Mahindra & Mahindra Limited (M&M) marked a strong performance in Q2 FY25, announcing a 35% year-over-year increase in consolidated profit after tax (PAT) at Rs 3,171 crore. The company’s standout achievements include market dominance across automotive, farming, and service sectors, solidifying its reputation as an industry leader.
Key Performance Highlights:
- Automotive Growth: M&M maintained its top position in the SUV segment with a market share of 21.9%, reflecting an 18% volume growth in Q2 and a 21% rise year-to-date as of September. Total quarterly auto revenue reached Rs 21,755 crore, a 15% increase, and auto PAT jumped by 40% to Rs 1,423 crore.
- Farm Sector Resilience: The company achieved a record 42.5% market share in tractors, with quarterly volumes up by 4%. Despite global challenges impacting international markets, farm sector PAT remained steady at Rs 800 crore. Farm machinery revenue saw a 14% boost to Rs 253 crore.
- Services Sector Strength: Mahindra Finance’s assets under management (AUM) increased by 20%, and Tech Mahindra reported an EBIT margin improvement of 490 basis points. Club Mahindra posted a 12% rise in income to Rs 371 crore, while Mahindra Logistics grew its revenue by 11% to Rs 1,521 crore.
Leadership Insights:
Dr. Anish Shah, Managing Director & CEO, underscored the company’s robust operating performance across its business verticals. “Our Auto and Farm sectors continue to show significant market share gains and margin improvements. Tech Mahindra’s progress reflects a strategic focus on profitability, and MMFSL has stabilized with GS3 under 4%,” he noted.
Rajesh Jejurikar, Executive Director & CEO of Auto and Farm Sectors, highlighted key drivers of growth: “Our SUV volumes saw an 18% year-over-year increase, bolstered by successful new launches. The tractor business achieved its highest-ever market share in a second quarter at 42.5%, supported by margin gains.”
Strategic Outlook:
Amarjyoti Barua, Group CFO, emphasized the balanced performance of M&M’s diversified business portfolio. “The results for H1 FY25 indicate sustained growth across our core sectors and services, aligning with our long-term strategy,” Barua stated.
M&M’s Q2 FY25 consolidated revenue reached Rs 37,924 crore, up 10% from the previous year, with a half-year return on equity (RoE) at 18.9%. The company’s proactive approach and successful execution of growth strategies signal continued positive momentum for the remainder of FY25.
Key financials:
Rs cr.
| Q2 F25 | Q2 F24 | Growth% YOY | |
| Consolidated Results | |||
| Revenue | 37,924 | 34,436 | 10% |
| PAT | 3,171 | 2,348 | 35% |
PAT is PAT after Non-Controlling Interest
Summary of standalone financials:
Rs cr.
| Q2 F25 | Q2 F24 | Growth% YOY | |
| Standalone Results | |||
| Revenue | 28,919 | 25,762 | 12% |
| EBITDA | 5,270 | 4,360 | 21% |
| PAT | 3,841 | 3,393& | 13%& |
| Volumes | |||
| Total Vehicles sold | 2,31,038# | 2,12,078# | 9% |
| Total Tractors sold | 92,382 | 89,101 | 4% |
# Includes 28,266 in Q2 F25, 10,019 in Q2 F24 volumes sold by separate entity “MLMML,” which was demerged from Sep’23 onwards. Revenue in standalone results do not include realisation from these volumes.
& Includes PY gain on LMM transfer
