Bengaluru, December 8, 2025: Mahindra & Mahindra Ltd., India’s leading SUV manufacturer, today announced the name of its next major offering in the premium SUV segment — the XUV 7XO. Built on the legacy of the XUV700, which disrupted the SUV segment in India with over 300,000 proud owners in just over four years, the XUV 7XO elevates everything that made the XUV700 a gamechanger.

Crafted to inspire and engineered to excite, it combines the proven strengths of the XUV700 with superior design, technology, comfort and performance — delivering an SUV that’s not just evolved, but truly extraordinary. Designed to reinforce Mahindra’s leadership in the premium SUV space, the XUV 7XO is set to lead the way again for the SUVs of tomorrow.

Name Reveal Film: https://www.youtube.com/watch?v=9nBRLGfUmzI

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At Agrovision 2025, Mahindra showcased its latest innovations in sustainable tractor technology, which includes:

• CNG/CBG Tractor: Based on Mahindra’s popular Yuvo Tech+ tractor platform, the new CNG/CBG tractor offers the flexibility to run on both Compressed Natural Gas (CNG) Compressed Biogas (CBG) and duel fuel (Diesel-CNG).
• Ethanol Flex Fuel Tractor Engine: This new alternate fuel technology from Mahindra is a flex fuel engine capable of running on ethanol derived from multiple sources like sugarcane, maize, maize husk, plant stubble, crop waste, and other farm-based sources.
• Electric Tractor: Mahindra’s Electric Tractor is built on Mahindra’s global lightweight tractor platform, the Mahindra OJA. Besides ensuring reduced operating cost, the new electric tractor provides better torque delivery and overall efficiency for multiple application, along with an option of fast charging.

Developed at Mahindra Research Valley (MRV), Chennai, these breakthrough alternate fuel technologies leverage decades of Mahindra’s expertise in advanced engine innovation, positioning the company at the forefront of the country’s endeavour in developing sustainable solutions in farm mechanisation.

Commenting on the new showcases, Mr. Veejay Nakra – President, Farm Equipment Business, Mahindra & Mahindra Ltd. said, “Mahindra is committed to leading India’s shift to alternate fuel technologies and driving cleaner, smarter, and sustainable farming solutions. Our presence at Agrovision 2025 underscores this commitment as we showcase innovative tractors and technologies that will shape the future of Indian agriculture, aligned with the Government of India’s vision toward achieving net-zero carbon emissions by 2070.” 

Achieving net-zero emissions requires embracing alternate fuel technologies like CNG, Electric, CBG, ethanol, biofuel, and isobutyl, which can help create a long-term sustainable pathway to promote a long-term sustainable future for India.

Mahindra continues to lead the way in driving positive change with reliable and accessible mechanisation solutions across India’s growing agri sector. Over the last few years, Mahindra has showcased a range of alternate fuel tractor technologies, like a CNG (Compressed Natural Gas) tractor, a CBG (Compressed Biogas) tractor and other pioneering clean technologies to reduce emissions and lower operating costs for farmer in India and the world.

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• Consolidated PAT at Rs 3,673 cr., up 28%*
• Consolidated Revenue at Rs 46,106 cr., up 22%
• RoE at 19.4% (annualized)
• #1 in SUVs with revenue market share at 25.7%, up 390 bps
• #1 in LCVs <3.5T: market share at 53.2%^{^}, up 100 bps
• #1 in Tractors: market share at 43.0%, up 50 bps
• #1 in electric 3 wheelers: market share at 42.3%
• MMFSL PAT up 45%; stable GS3 <4%
• Tech Mahindra EBIT at 12.1% up 250 bps
• Continued momentum in Growth Gems 

*Excluding one time gain on land sale in Q2 F25, SML Isuzu tax impact and prior period PLI benefits in Q2 F26

^Bolero Max Pickup 2T variant classified under LCV 2-3.5T, includes Jeeto sold by LMM 

Bengaluru, November 4, 2025: The Board of Directors of Mahindra & Mahindra Limited today approved the financial results for the quarter ended 30^th September 2025.

Key financials:

PAT is PAT after Non-Controlling Interest. For summary of standalone financials, refer Annexure 1

^#28% excluding one time gain on land sale in Q2 F25, SML Isuzu tax impact and prior period PLI benefits in Q2 F26 

Mahindra & Mahindra reported strong operating performance across businesses in the second quarter of F26 with consolidated PAT of Rs 3,673 cr., up 28%*. Auto and Farm continue to deliver on growth and margins. Financial services delivered 45% growth in PAT, while keeping asset quality strong. TechM continued its journey of margin expansion with EBIT improvement of 250 bps. Our growth gems continue to make strong progress with notable commercial wins in Aero, 2x presales at Mahindra Lifespaces & double-digit revenue growth in others. 

Auto

• Quarterly volumes at 262k (includes sales by LMM & MEAL), up 13%; UV volumes at 146k
• Q2 SUV revenue market share at 25.7%, up 390 bps
• Standalone PBIT Rs 2,281 cr., up 14%; PBIT margin 9.2%, excl. eSUV contract mfg. 10.3%, up 80 bps
• Consolidated Revenue Rs 27,171 cr., up 25%
• Consolidated PAT Rs 1,536 cr., up 8%

Farm

• Highest ever Q2 market share at 43.0%, up 50 bps; volumes at 123k, up 32%
• Standalone PBIT Rs 1,684 cr., up 48%; PBIT margin at 19.7%, up 220 bps
• Consolidated Revenue Rs 10,225 cr., up 25%
• Consolidated PAT Rs 1,163 cr., up 45%

Services

• MMFSL PAT up 45%; GS3 <4%
• Tech Mahindra EBIT margin at 12.1%, up 250 bps
• Mahindra Lifespaces residential pre-sales of Rs 752 cr.; GDV acquired Rs 1.7k cr., up 2.6x
• Club Mahindra occupancy at 73%; room keys up 5%
• Mahindra Logistics revenue Rs 1,685 cr., up 11%
• Consolidated Services Revenue Rs 10,048 cr., up 12%
• Consolidated Services PAT Rs 975 cr., up 3%

Commenting on Q2 F26 performance

Dr. Anish Shah, Group CEO & Managing Director, M&M Ltd., said, “We are pleased with the strong execution and solid performance delivered across the group in Q2’F26. Auto and Farm sustained their leadership with consistent gains in market share and profitability. TechM is progressing well on its transformation journey. MMFSL achieved a 45% PAT growth and remains committed to quality growth and digital transformation. Our Growth Gems are steadily advancing towards their ambitious goals, reinforcing our long-term value creation potential.”

Mr. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd. said, “Strong performance of our Auto and Farm businesses continues in Q2’F26 reinforcing our leadership position, with a gain of 390 bps YoY in SUV revenue share, and 100 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 43.0% market share. Our Auto Standalone PBIT margin (excl. e-SUV Contract Mfg.) improved by 80 bps to 10.3% and core Tractor PBIT margins improved by 190 bps to 20.6%.”

Mr. Amarjyoti Barua, Group Chief Financial Officer, M&M Ltd. said, “Our solid Q2 consolidated results reflects the strength of our diversified portfolio. We continue to deliver on our strategic priorities. We had strong cash generation in the first half, delivering over 10k crores of operating cash flow. We remain committed to sustainable growth and value creation.”

Annexure 1 

Summary of standalone financials:

Rs cr.

^# Includes 38,995 in Q2 F26 and 28,266 in Q2 F25, volume sold by LMM. Includes 12,404 BEVs sold by MEAL in Q2 F26.

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Eight decades ago, even before India’s independence, Mahindra placed an advertisement in The Times of India announcing the launch of the company. The ad called for enterprising individuals of all communities to join a company built on courage, fairness, and opportunity- a bold and inclusive call at a time when the world was still grappling with war, economic uncertainty, and social division.

Anand Mahindra, Chairman, Mahindra Group said, “Eighty years ago, the Mahindra Group was born with a crystal-clear purpose: to help build our nascent nation. Our founders pledged to develop industry, create livelihoods, and enable communities to rise from the violent throes of the struggle for independence into a brighter future. Today, we once again are in turbulent times, and we have the opportunity to renew that pledge to strive together to propel India towards technological self-reliance and global respect.”

Speaking on the occasion, Dr Anish Shah, Group CEO & MD, Mahindra Group, said: “Our founders were ahead of their time. Their first ad did not talk about products or profits, it highlighted the “principles which will guide their activities”: entrepreneurship, integrity, diversity, and a fearless optimism about India’s future. Eighty years later, those principles continue to guide us as we innovate, empower communities, and drive positive change across the world.”

From assembling the first Willys jeeps in post-war India to becoming a global federation of companies spanning mobility, technology, finance, hospitality, and renewable energy, Mahindra has remained true to its founding purpose of “Rise” – The Mahindra Group rise only when the Mahindra Group enable others to rise. Today, the Group operates in over 100 countries, serving millions while championing sustainability, technology, gender diversity, skilling, and rural prosperity.

The original 1945 advertisement reflects the timeless Mahindra spirit: that talent knows no boundaries, and opportunity should be open to all. As the Mahindra Group celebrate 80 years, the Mahindra Group is not just honouring Mahindra’s past, the Mahindra Group is reaffirming Mahindra’s commitment to creating a future that is as inclusive and entrepreneurial as Mahindra’s beginnings. Mahindra remains deeply anchored in its values and steadfast in Mahindra’s commitment to performance, even amid global uncertainty. Mahindra’s growth is propelled by the India story, the Mahindra Group operate in 70% of the country’s GDP and the Mahindra Group is aligned with the opportunities this dynamic economy offers.

As Mahindra enters its ninth decade, the Group continues to lead with purpose-driven growth, focussing on ensuring that the values of Mahindra’s founders are carried ahead for generations to come. Today, the Mahindra Group is so much more than just a collection of companies. It is a platform for possibilities, a space where people, businesses, and partners come together to Rise.

At the core of this platform are Mahindra’s associates-the people who bring Mahindra’s vision to life every single day. Their agility, boldness, and collaborative spirit drive everything the Mahindra Group do. For Mahindra, growth is not just about profits, it is about impact. Mahindra’s associates are the champions of this belief.

Mahindra’s programs — Kaabil, Nanhi Kali, Mahindra’s initiatives with local communities and high impact sustainability efforts are living examples of this philosophy. Through Kaabil, the Mahindra Group empower women with the skills they need to secure meaningful livelihoods. Through Nanhi Kali, the Mahindra Group uplift underprivileged girls by ensuring access to holistic education so they can shape their own futures.

The current geopolitical and economic landscape is challenging, with persistent headwinds across continents. Yet, the Mahindra Group believes that India stands uniquely poised to emerge as a global manufacturing powerhouse. With its growing infrastructure, young workforce, and favourable policies, India’s opportunity to lead the world in manufacturing has never been greater. The Mahindra Group aspires to be a globally recognized brand and have made significant strides toward that goal.

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In the Utility Vehicles segment, Mahindra sold 56,233 vehicles in the domestic market, a growth of 10% and overall, 58,714 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 26,728, a growth of 18%. The Billing numbers of SUVs for September were subdued due to availability of trailers in the last 10 days of the month.

According to Nalinikanth Gollagunta, CEO, Automotive Division, M&M Ltd., “In September, we achieved SUV sales of 56,233 units, a growth of 10%, and total vehicle sales of 100,298 units, a 16% growth compared to the same month last year. 

Thanks to the impetus from GST 2.0 and the preceding weeks’ pent-up demand, we have seen robust growth in dealer reported customer retails during the first nine days of Navratri*, with over 60% growth in the SUV segment and over 70% growth in the CV segment compared to the first nine days of Navratri last year. 

The surge in festive demand has placed significant constraints on availability of trailers. We are working to improve dispatches to our dealer network within the constraints.”

Note- Total vehicle sales of 100,298 units include SUVs, LCVs (<3.5T), 3-wheelers, and export volumes

* Dealer reported customer retail estimates for first nine days of Navratri compared to first nine days of Navratri last year

** Above UV Sales includes sales made by subsidiary company Mahindra Electric Automobile Limited

*** Above Sales Includes sales made by subsidiary company Mahindra Last Mile Mobility Limited

****Above Sales includes Bolero Maxx PUP HD 1.9 & HD 2.0

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Consequent to the above, the Board of Directors of SML has been reconstituted. The board of Directors of SML has appointed Mr. Vinod Sahay, President – Aerospace & Defence, Trucks, Buses & CE – Mahindra Group, as Executive Chairman of SML Isuzu, effective August 3, 2025.

Dr. Venkat Srinivas has been appointed as the Executive Director & Chief Executive Officer of SML Isuzu Ltd., effective August 01, 2025.

The Board of Directors of SML has also approved a change in the name of the company to ‘SML Mahindra Limited’– subject to approvals from RoC, Central Registration Centre, MCA and shareholders of the Company or any other authority as may be necessary.

In April 2025, M&M entered into an agreement to acquire a 58.96% equity stake in SML at INR 650 per share, representing a total investment of INR 555 crore. It is big a step for M&M towards establishing a strong presence in the >3.5T CV segment, where the company has a 3% market share presently, as compared to a 54.2% market share in the Sub-3.5 tonne LCV segment. M&M’s Trucks and Buses Division has made meaningful progress over the past few years. This acquisition will double the market share to 6%, with a plan to increase this to 10 – 12% by FY31 and 20%+ by FY36.

SML, established in 1983, is a listed company with well-recognized brands, strong heritage and pan-India presence in the ‘Trucks & Buses ‘segment. The company has a market leading position in the ‘ILCV [Intermediate and Light Commercial Vehicles] Buses segment, ‘with around 16% market share.

Mr. Vinod Sahay is a member of the Group Executive Board of Mahindra Group. In addition to his new role in SML Isuzu Ltd, he will continue to serve as President – Aerospace & Defence, Trucks, Buses and Construction Equipment sector of Mahindra group. He brings 27 years of extensive business leadership experience in Automotive, Aerospace and Defence industry with vast leadership experience in Commercial Vehicles industry. In over 10 years with Mahindra Group, he has previously served as President & Chief Purchase Officer at Mahindra & Mahindra Ltd, CEO of Mahindra Truck & Bus and Construction Equipment business, and CEO of Mahindra Two Wheelers businesses. 

Dr. Venkat Srinivas, in addition to his new role, will continue to serve as the Business Head for Mahindra Truck & Bus (MTB) and Construction Equipment (CE). He brings 35 years of extensive R&D and leadership experience in the Aerospace and Automotive Engineering domains. Over the 11 years with the Mahindra Group, he has led key initiatives in the Commercial Vehicle (CV) space, including the development of Blazo, Furio, Cruzio, Bolero Maxx Pikup, Zeo EV and strategic platforms like Veero and Global Pik Up.

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Domestic sales in July 2025 were at 26,990 units, as against 25,587 units in July 2024, reflecting a 5% year-on-year growth.

Total tractor sales (Domestic + Exports) during July 2025 were at 28,708 units, as against 27,209 units for the same period last year. Exports for the month stood at 1,718 units.

Commenting on the performance, Veejay Nakra, President – Farm Equipment Business, Mahindra & Mahindra Ltd. said, “We have sold 26,990 tractors in the domestic market during the month of July 2025, a growth of 5% over last year. This performance was driven by sustained land preparation activities, supported by robust cash flows in rural markets following the conclusion of Rabi crop harvesting. Additionally, the normal progression of monsoon across most regions further contributed to good demand during the onset of sowing for the Kharif season. In the exports market, we have sold 1,718 tractors, a growth of 6% over last year.” 

*Exports include CKD

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In the Utility Vehicles segment, Mahindra sold 49,871 vehicles in the domestic market, a growth of 20% and overall, 50,835 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 21,571.

According to Nalinikanth Gollagunta, CEO, Automotive Division, M&M Ltd., “In July, we achieved SUV sales of 49,871 units, a growth of 20%, and total vehicle sales of 83,691 units, a 26% growth compared to the same month last year. Our SUV growth has been supported by the recent launch of XUV 3XO ‘REVX’ Series & the commencement of deliveries for Pack two variants of the BE 6 and XEV 9E models.”

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Bengaluru, April 01, 2025: Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today announced that its overall auto sales for the month of March 2025 stood at 83894 vehicles, a growth of 23%, including exports.

In the Utility Vehicles segment, Mahindra sold 48048 vehicles in the domestic market, a growth of 18% and overall, 50835 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 23951.

The company closed the year with 551487 SUVs, the highest ever in its history, with a growth of 20%YoY. We also closed the year with the highest Vahan registrations with 20% growth (1^st Apr 2024 to 31^st March 2025) helping us to keep our dealer inventory levels within norms.

Some of the other key achievements for the year include being the No1 SUV player and No2 Passenger Vehicle manufacturer by revenue, crossing 50% market share in the LCV<3.5T category and scaling up international operations by 41%YoY. Mahindra also became the only Indian auto company to obtain DJSI Index world leader status this year.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., “In March, we sold a total of 48,048 SUVs, with a growth of 18% and 83894 total vehicles, a 23% growth over last year. We also started the deliveries of our Electric Origin SUVs, where we see a strong continued demand momentum. The year ended on a very positive note with us selling over 5 lakh SUVs in the domestic market for the first time ever.” 

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