Mahindra Group’s Investor Day presentation today felt less like a routine corporate briefing and more like the trailer of a big-budget franchise—complete with dramatic taglines (“Think Big. Do Less. Execute Flawlessly”), sweeping ambitions, and a whole lot of horsepower behind the numbers. Backed by a 167-page deck, Mahindra showcased how it plans to scale, electrify, globalise, and generally sprint past competitors while occasionally reminding everyone that audacity is now an official strategy.
A DECADE OF MOMENTUM: FROM “PIVOT TO GROWTH” TO “DELIVER SCALE”
Mahindra highlighted its strategic evolution—from FY21’s reset, through FY22–FY24’s pivot toward growth, to the upcoming FY25–FY30 phase focused entirely on “delivering scale.” This involves sharper capital allocation, operating excellence, and what the company openly calls the “courage to say no”—a refreshing admission in a corporate world addicted to diversification.
The results show. EPS surged from ₹1 in FY20 to ₹115.7 in FY25—yes, that’s a 63% CAGR, the kind of slope on a chart that makes investors grin like kids in a toy store. Shareholder returns have soared too, with M&M’s share price growing 14x since FY20, significantly outpacing the Nifty 50.
AUTO & FARM: WHERE THE RUBBER MEETS THE ROAD—LITERALLY
SUVs: Fastest-Growing Brand? Challenge Accepted.
Mahindra wants to be the world’s fastest-growing SUV brand this decade. Backed by smash-hit launches like the Thar Roxx, XUV3XO and special editions like the BE6 Batman Edition, the company is already India’s #1 SUV revenue leader for multiple quarters.
The company is doubling down with global platforms (INGLO & NU_IQ), export ambitions across RHD and LHD markets, and “world-beating products” beginning 2027. Translation: expect more head-turners that break the internet in 135 seconds—just like the last 999-unit drop.
LCVs: The Unsung Heroes Go Turbo
Mahindra already commands over 50% market share in LCVs <3.5T and wants to be the most trusted brand in the segment. Roughly 80% of LCV customers live in rural India—a demographic Mahindra describes almost affectionately in its deck. New platforms, high uptime, and full market coverage (1T to 2T segments, diesel/CNG/electric) are expected to drive 8X revenue growth this decade.
Farm Equipment: Global Tractor Boss Mode
Already the world’s largest tractor manufacturer, Mahindra plans a 3X revenue expansion through FY30. With strong domestic demand, new high-HP platforms, global expansion in Brazil, North America, ASEAN, and electrified/ autonomous tractors on the horizon, the company is preparing to “democratise technology” for farmers everywhere.
TECH MAHINDRA: THE TURNAROUND PLAYBOOK
Tech Mahindra says its three-year turnaround is well underway. After reorganising and investing in vertical-led growth, delivery excellence, and GenAI-led transformation, it expects to hit FY27 targets of:
- Revenue growth > peer average
- EBIT margin of 15%
- 85% FCF returned to shareholders
- A brand identity revamp to “Scale at Speed™” (fancy, but catchy)
The company emphasised its GenAI leadership—LLMs in 38 Indian languages, collaborations with NVIDIA, and selection under the IndiaAI mission. Safe to say TechM is aiming for a glow-up, not just a clean-up.
MAHINDRA FINANCE: STRONGER, CLEANER, FASTER
After years of patchy asset quality, Mahindra Finance reported a dramatic improvement—GS3 fell from 7.7% in FY22 to 3.7% in FY25—accompanied by rising AUM and digital transformation.
The next chapter includes:
- 5X AUM growth this decade
- AI-driven ops (vernacular voice agents, vision AI, hybrid agentic workflows)
- Expansion into SME and mortgage lending
- Increased fee income, cross-selling via insurance & investments
The message is clear: rural and semi-urban India remains Mahindra Finance’s fortress.
LIFESPACES, HOLIDAYS & NEW ECONOMY UNITS: BUILDING NEW GROWTH ENGINES
Mahindra Lifespaces
With a bold aspiration of 14X growth in sales, Lifespaces plans to hit ₹10,000 crore annual sales by FY30 through premium residential projects, strong BD pipelines, industrial parks, and sustainability-first design. Recent wins include the massive Bhandup redevelopment project.
Mahindra Holidays
Club Mahindra is scaling to 10,000 keys, launching a luxury brand (“Mahindra Signature Resorts”), and revamping customer experience with simpler plans and a refreshed identity. The business targets 3X keys, 3X revenue, and 4X PAT this decade.
Last Mile Mobility (LMM)
India’s #1 electric three-wheeler maker aims for 1 million EVs on the road by 2031. With proprietary EV tech, deep battery expertise, and a new plant in Telangana, LMM plans 6X revenue growth this decade.
Renewable Energy (Susten)
Partnered with Ontario Teachers’ Pension Plan, Susten wants to grow its RE portfolio from 1.5 GWp to 7 GWp by 2029, using a capital-light build-and-flip model and the country’s largest solar O&M platform.
THE BIG PICTURE: A FEDERATION BUILT FOR SCALE
Mahindra repeatedly emphasised the strength of its “power of a federation”—shared culture, strong governance, scale advantages, and deep India-first roots—while preparing to win internationally. The conglomerate now plays meaningfully in 70% of India’s GDP growth sectors, from mobility and finance to energy, technology, logistics, and housing.
And with each business unit presenting aggressive (sometimes dizzying) multiples—8X, 6X, 14X, 12X—the group’s collective ambition is evident: to build one of the world’s most future-ready, diversified, technologically advanced conglomerates by 2030.
If Investor Day 2025 made one thing clear, it’s that Mahindra doesn’t just want to grow. It wants to grow like it’s late for a flag-off.
SUVs want to be fastest-growing in the world.
LCVs want to be #1 across India.
TechM wants to out-AI the AI crowd.
Finance wants to be the trusted banker for Bharat.
Lifespaces wants to sell like Mumbai real estate is going out of fashion (it isn’t).
Holidays wants your weekends.
And Last Mile Mobility? It wants every e-rickshaw from Gwalior to Guwahati to wear the Mahindra badge.
If execution matches ambition—and Mahindra insists it will—this decade might just belong to the red-and-black Rise philosophy.
