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Mahindra & Mahindra announced the production, sales and export figures for month of October 2026 as detailed below:
Oct-26
Oct-25
% change
Production
1,23,752
94,873
30%
Sales
1,26,706
1,18,097
7%
Export
7,241
4,079
78%
Auto shares rallied for eight consecutive trading sessions.
At 11:25 IST, the barometer index, the S&P BSE Sensex advanced 1,275.49 points or 1.55% to 82,368.06. The Nifty 50 index 335.60 points or 1.33% to 25,376.45.
In the broader market, the Nifty MidCap 150 Index rose 1.11% and the Nifty SmallCap 250 Index added 1.63%.
The market breadth was strong. On the BSE, 2,686 shares rose and 765 shares fell. A total of 105 shares were unchanged.
Brent crude for December 2026 settlement rose 86 cents or 0.94% to $92.35 a barrel, recovering on Wednesday after slipping to a two-month low in the previous session.
Buzzing Index:
The Nifty Auto index jumped 1.97 % to 28,476.70. The index zoomed 12.01% in eight consecutive trading sessions.
Mahindra & Mahindra (up 3.9%), Uno Minda (up 3.21%), Tube Investments of India (up 2.66%), Samvardhana Motherson International (up 2.11%), Bharat Forge (up 1.62%), Maruti Suzuki India (up 1.39%), TVS Motor Company (up 1.36%), Hyundai Motor India (up 1.31%), Bosch (up 1.3%) and Tata Motors Passenger Vehicles (up 1.24%) surged.
Global Market:
Dow futures rose 143 points, signalling a strong opening for US stocks.
Most Asian indices traded higher on Wednesday as investors assessed the impact of stronger-than-expected US inflation and rising bond yields. However, sentiment remained cautious following the previous session's sell-off in US technology stocks.
US stocks ended lower on Tuesday after hotter-than-expected inflation data strengthened expectations of another Federal Reserve rate increase in December. The Dow Jones Industrial Average declined 157.86 points or 0.30% to 52,231.89. The S&P 500 dropped 29.01 points or 0.38% to 7,520.93, while the Nasdaq Composite fell 187.26 points or 0.74% to 25,065.87.
Technology stocks led the declines, while semiconductor shares remained under pressure amid renewed volatility in the artificial intelligence trade.
Nvidia fell 5.4% amid reports of an internal investigation into suspected chip shipments to China involving its chief executive, Jensen Huang. The stock has declined 9.6% over the past two sessions.
SoftBank Group dropped 3.3% in Japan after reporting a net loss of $7 billion for the second quarter. The loss was partly attributed to substantial investments in US data centre infrastructure.
CoreWeave was in focus in after-hours trading after reporting its third-quarter results. Revenue surged 168% year-on-year to $3.66 billion, while adjusted EBITDA increased to $2.26 billion from $838 million. The company raised its FY26 revenue guidance to $13 billion-$13.3 billion. It also increased its adjusted operating income guidance to $1.275 billion-$1.375 billion.
Another significant AI-related development involved Anthropic. The artificial intelligence company is pursuing a potential public listing that could raise as much as $64.4 billion and value the company at up to $1.4 trillion.
US consumer inflation rose 0.4% month-on-month in October, following a 0.6% increase in September. Core CPI, which excludes food and energy, increased 0.3%, against the market expectation of 0.2%. Higher shelter costs accounted for more than 30% of the monthly increase in headline inflation.
The US Bureau of Labor Statistics could not publish the usual annual inflation rates for October because it had not collected October 2025 survey data during the previous year's government funding lapse.
Mahindra & Mahindra Ltd gained for a fifth straight session today. The stock is quoting at Rs 3217.3, up 2.87% on the day as on 12:39 IST on the NSE. The benchmark NIFTY is up around 0.64% on the day, quoting at 24694.55. The Sensex is at 80064.14, up 0.95%. Mahindra & Mahindra Ltd has risen around 14.9% in last one month.
Meanwhile, Nifty Auto index of which Mahindra & Mahindra Ltd is a constituent, has risen around 9.19% in last one month and is currently quoting at 27601.75, down 0.56% on the day. The volume in the stock stood at 61.41 lakh shares today, compared to the daily average of 26.5 lakh shares in last one month.
The benchmark November futures contract for the stock is quoting at Rs 3230, up 3.31% on the day. Mahindra & Mahindra Ltd is down 12.82% in last one year as compared to a 3.13% drop in NIFTY and a 2.5% drop in the Nifty Auto index.
The PE of the stock is 23.62 based on TTM earnings ending June 26.
The company also approved subscription to additional equity shares and/or any portion of the rights issue that remains unsubscribed, if any, beyond the company's entitlement, aggregating ~Rs. 595 crore.
Sequentially, net profit declined 15.9% from Rs 5,454.54 crore in Q1 FY27, while income from operations fell 1.1% from Rs 58,187.57 crore in Q1 FY27.
Profit before tax, including the share of profit of associates and joint ventures, rose 21.6% YoY to Rs 7,364.70 crore from Rs 6,057.93 crore. It declined 3.5% sequentially from Rs 7,628.09 crore.
Total expenses increased 25.9% YoY to Rs 51,845.48 crore. Cost of materials consumed increased 32.4% to Rs 36,908.96 crore, employee benefits expense increased 6.1% to Rs 3,303.26 crore. Finance costs rose 14.3% to Rs 2,681.93 crore, depreciation and amortisation increased 9.8% to Rs 1,831.88 crore, and other expenses grew 14.0% to Rs 6,774.60 crore.
On a standalone basis, EBITDA rose 4% YoY to Rs 6,718 crore from Rs 6,467 crore, while revenue increased 26% to Rs 44,282 crore. The EBITDA margin contracted to 15.2% from 18.4% a year ago. Standalone net profit rose 13% YoY to Rs 5,102 crore from Rs 4,521 crore.
In the Auto business, consolidated revenue increased 39.0% YoY to Rs 37,756 crore, while profit before interest and tax (PBIT) rose 30.8% to Rs 3,319 crore. The PBIT margin stood at 8.8%, compared with 9.3% a year ago and 7.7% in Q1 FY27. Consolidated PAT increased 55% YoY to Rs 2,388 crore. Standalone Auto PBIT rose 14.6% YoY to Rs 2,614 crore, while the margin stood at 7.7% against 9.2% a year ago.
Total vehicle volumes increased 26.4% YoY and 8.7% QoQ to 3,30,896 units. This included 53,103 units sold by Last Mile Mobility and 22,864 battery electric vehicles sold by Mahindra Electric Automobile, compared with 12,404 units a year ago. Utility vehicle volumes stood at 1,83,000 units. The company retained its number one position in SUVs with a 24.3% revenue market share.
In the Farm business, consolidated revenue declined 6.4% YoY to Rs 9,572 crore, while PBIT fell 14.4% to Rs 1,376 crore. The PBIT margin stood at 14.4%, compared with 15.7% a year ago and 14.2% in Q1 FY27. Consolidated PAT declined 9% YoY to Rs 1,053 crore, which the company attributed to a shift in the festive season.
Tractor volumes fell 5.6% YoY and 26.6% QoQ to 1,16,027 units, while market share stood at 41.5%. Standalone Farm PBIT declined 14.4% YoY to Rs 1,441 crore. Its margin contracted to 16.8% from 19.7% a year ago.
In the Services business, revenue increased 17.6% YoY to Rs 11,821 crore, while PBIT rose 27.2% to Rs 1,998 crore. The PBIT margin improved to 16.9% from 15.6% a year ago. The group's share of Services PAT increased 18% YoY to Rs 1,147 crore.
Mahindra Finance's assets under management grew 15% YoY, while Stage 3 assets stood at 3.42% of loans. Its PAT increased 61% YoY. Tech Mahindra's PAT rose 33% YoY, while its EBIT margin improved 260 basis points to 14.8%. Mahindra Lifespaces' residential pre-sales increased 41% YoY to Rs 1,100 crore. Mahindra Holidays reported an occupancy rate of 76%, up 220 basis points, while Mahindra Logistics' revenue rose 24% YoY to Rs 2,095 crore.
Group CEO and managing director Anish Shah said the group's growth reflected resilience and disciplined execution across businesses. He added that the Farm business was affected by the shift in the festive season.
Mahindra & Mahindra is a Mumbai-headquartered conglomerate with interests in automotive, farm equipment, financial services, IT services, real estate, hospitality and logistics. It is a market leader in India's SUV, light commercial vehicle (below 3.5 tonnes) and tractor segments, based on the company's market share measures.
Mahindra & Mahindra has sold 1,31,109 units in month of October 2026 compared to 1,20,142 units in October 2025, recording a growth of 9%.
Total sales include domestic sales of 1,24,007 units (up 7% YoY) and exports of 7,102 units (up 77% YoY).
The company sold 73,338 passenger vehicle units (up 2% YoY) and 50,669 commercial vehicle and three-wheeler units (up 14% YoY) during the month.
According to Dr. Velusamy R, President, Automotive Business, Mahindra & Mahindra, “October was a landmark month for us, with SUV sales topping at 73338 units and total vehicle sales of 131109, both the highest we have ever clocked in a month. The festive season, together with a refreshed portfolio, kept demand strong across SUVs, pick-ups and three-wheelers. Our first CNG vehicle, the XUV 3XO ZNG has also seen strong traction with customers.”
Mahindra's Trucks & Buses business comprises of Mahindra Truck & Bus division (MTBD) and SML Mahindra (SML).
According to Vinod Sahay, Executive Chairman – SML, President – Aerospace, Advanced Technologies, Trucks, Buses & CE, M&M, “October sustained the strong momentum built through Q2, supported by festive season demand, healthy freight movement and continued infrastructure-led activity across key sectors. While rising commodity and input costs warrant close monitoring, the underlying demand drivers, including infrastructure investments, replacement demand and economic activity, provide confidence in the outlook for the months ahead.”
Mahindra & Mahindra Farm Equipment Business achieved tractors sales of 64,846 units in month of October 2026 compared to 73,660 units in October 2025, a degrowth of 12%.
Total tractor sales include domestic tractors sales of 62,626 units (down 13% YoY) and exports of 2,220 units (up 40% YoY) during the month.
Commenting on the performance, Veejay Nakra, President – Farm Equipment Business, Mahindra & Mahindra said, “We have sold 62,626 tractors in the domestic market during October. The volume decline was primarily due to festive calendar shift, with Diwali moving to November this year from October last year. In the export markets, we have sold 2,220 tractors.”
Mahindra & Mahindra Ltd is down for a fifth straight session today. The stock is quoting at Rs 2852.4, down 0.31% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.22% on the day, quoting at 22650.05. The Sensex is at 73281.69, up 0.22%.Mahindra & Mahindra Ltd has lost around 4.76% in last one month.Meanwhile, Nifty Auto index of which Mahindra & Mahindra Ltd is a constituent, has eased around 6.27% in last one month and is currently quoting at 24862.3, down 0.01% on the day. The volume in the stock stood at 11.02 lakh shares today, compared to the daily average of 26.82 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 2855.6, up 0.54% on the day. Mahindra & Mahindra Ltd tumbled 21.02% in last one year as compared to a 12.77% slide in NIFTY and a 8.81% fall in the Nifty Auto index.
The PE of the stock is 21.67 based on TTM earnings ending June 26.