The call ran from 3:59 PM to 5:08 PM IST (1 h 9 min).
Key takeaways
Consolidated revenue ₹57,553 Cr (+25%) and PAT ₹4,588 Cr (+25%) on multi-business strength, despite commodity inflation, monsoon deficit and a cut tractor outlook.
| Revenue growth | +25% YoY; operating-led, no one-time monetisation this quarter. |
|---|---|
| Margins | Auto margin 9.8% (Q1 8.9%); consolidated 8.8%; modestly down YoY. |
| Order book | 7XO waits 6-7 months; 9S longest; most others 1.5-2 months. |
| Demand visibility | SUV, LCV, EV demand strong; dealer stocks low; tractors cut to flattish. |
| Management confidence | Confident, candid; resilience emphasised, reiterated 18% ROE target. |
Growth
Revenue +25%, PAT +25%, YTD PAT +29%; operating-led. Auto +55%, farm -9%, with no monetisation this quarter.
Outlook
Auto capacity 82k by end FY27, 92k next year, 132k by FY31. Auto margin to hold near 9% range.
Risks
Tractor industry cut to flattish; commodity inflation (steel +17%, copper +42%, rubber +40%); monsoon deficit; international subs stressed.
Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published . Open it on ALFA Filings ›
The results behind this call
Mahindra & Mahindra Q2 FY27 Results: Net Profit ₹5,167 Cr, Up 30.3% YoY
Mahindra & Mahindra Ltd reported revenue from operations of ₹57,515 Cr (+25.3% YoY) and net profit of ₹5,167 Cr (+30.3% YoY) for Q2 FY27.
- Key figure
- Net profit ₹5,167 Cr · +30.3% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targeting 15% EBIT margins for TechM and doubling Auto production capacity by FY31.
Growth they described
Profits grew 34% YoY; SUV volumes rose 15%. Growth is high-quality, supported by turnaround success and diversified engines.
Call details
| Company | Mahindra & Mahindra Ltd |
|---|---|
| NSE symbol | M&M |
| ISIN | INE101A01026 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 5 November 2026 |
| Time | 4:00 PM IST |
| Length | 1 h 9 min |
Mahindra & Mahindra Ltd: key numbers
- Share price
- ₹3,127.50
- Market cap
- ₹3,88,914 Cr
- Revenue (annual)
- ₹1,98,639 Cr
- Net profit (annual)
- ₹17,099 Cr
- P/E (TTM)
- 20.1×Sector 32.9×
- Promoter holding
- 18.39%-0.06% QoQ
- FII holding
- 33.34%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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