| Scrip Code | 500520 |
|---|---|
| NSE Symbol | M&M |
| MSEI Symbol | NOTLISTED |
| ISIN | INE101A01026 |
| Name of company | Mahindra & Mahindra Limited |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 11-02-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 24-12-2025 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Third quarter |
| Nature of report standalone or consolidated | Standalone |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Multi segment |
| Description of single segment | |
| Start date and time of board meeting | 11-02-2026 09:50:00 |
| End date and time of board meeting | 11-02-2026 11:34:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Declaration of unmodified opinion |
| Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? | No |
| No. of times funds raised during the quarter | |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | No |
| Please note that there is no default on the Loans taken and Debt securities issued by the Company | |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| 1 | Income | ||
| Revenue from operations | 38,94,165.00 | 1,08,16,443.00 | |
| Other income | 69,780.00 | 2,13,105.00 | |
| Total income | 39,63,945.00 | 1,10,29,548.00 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 25,77,199.00 | 76,61,855.00 |
| (b) | Purchases of stock-in-trade | 1,36,227.00 | 3,81,211.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 2,21,119.00 | 11,408.00 |
| (d) | Employee benefit expense | 1,38,879.00 | 3,98,880.00 |
| (e) | Finance costs | 6,315.00 | 17,806.00 |
| (f) | Depreciation, depletion and amortisation expense | 1,05,160.00 | 3,09,212.00 |
| (f) | Other Expenses | ||
| 1 | Other Expenses | 2,11,497.00 | 6,07,501.00 |
| 2 | Loss from investments related to subsidiaries, associates and joint ventures | 37,503.00 | 57,559.00 |
| Total other expenses | 2,49,000.00 | 6,65,060.00 | |
| Total expenses | 34,33,899.00 | 94,45,432.00 | |
| 3 | Total profit before exceptional items and tax | 5,30,046.00 | 15,84,116.00 |
| 4 | Exceptional items | (9,819.00) | (9,819.00) |
| 5 | Total profit before tax | 5,20,227.00 | 15,74,297.00 |
| 6 | Tax expense | ||
| 7 | Current tax | 1,28,421.00 | 3,83,595.00 |
| 8 | Deferred tax | (1,324.00) | 536.00 |
| 9 | Total tax expenses | 1,27,097.00 | 3,84,131.00 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | 3,93,130.00 | 11,90,166.00 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | 3,93,130.00 | 11,90,166.00 |
| 17 | Other comprehensive income net of taxes | (643.00) | (5,209.00) |
| 18 | Total Comprehensive Income for the period | 3,92,487.00 | 11,84,957.00 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | |||
| Total profit or loss, attributable to non-controlling interests | |||
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | |||
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | |||
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 60,088.00 | 60,088.00 | |
| Face value of equity share capital | 5 | 5 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | 32.72 | 99.09 | |
| Diluted earnings (loss) per share from continuing operations | 32.62 | 98.77 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | 32.72 | 99.09 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 32.62 | 98.77 | |
| 24 | Debt equity ratio | 1.500 | 1.500 |
| 25 | Debt service coverage ratio | 1106.2300 | 2554.0300 |
| 26 | Interest service coverage ratio | 8053.900 | 8158.3600 |
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | 1. Notes to the financial results: Please refer pdf file. Please note that the Board Meeting held on 11th February, 2026 commenced at . and the said Financial Results were approved by the Board at . The Board Meeting is continuing for consideration of other agenda items. 2.'Revenue from Operations' dislclosed above inlcudes' Revenue from Operations' and 'Income from investments related to subsidiaries, associates and joint ventures |
|---|
| Debt equity ratio | Debt The value of Debt-Equity ratio is in times in Financial results Q3 F 26 & 9M F26 however, in XBRL it is pre-requisite to enter in percentage hence, we have updated in % . Actual Debt-Equity ratio (times) is as below- Quarter ended (01.10.2025 to 31.12.2025) : 0.01 Nine Months ended (01.04.2025 to 31.12.2025) : 0.01 |
|---|---|
| Debt service coverage ratio | The value of Debt Service Coverage ratio is in times in Financial results Q3 F 26 & 9M F26 however, in XBRL it is pre-requisite to enter in percentage hence, we have updated in % Actual Debt Service Coverage Ratio is as below- Debt Service Coverage ratio (times) Quarter ended (01.10.2025 to 31.12.2025) : 11.06 Nine months ended (01.04.2025 to 31.12.2025) : 25.54 |
| Interest service coverage ratio | The value of Interest Service Coverage ratio is in times in Financial results Q3 F 26 & 9M F26 however, in XBRL it is pre-requisite to enter in percentage hence, we have updated in % Actual Interest Service Coverage Ratio is as below- Interest Service Coverage ratio (times) Quarter ended (01.10.2025 to 31.12.2025) : 80.54 Nine months ended (01.04.2025 to 31.12.2025) : 81.58 |
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | |||||
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Standalone | Standalone | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| 1 | Automotive | 28,36,148.00 | 78,23,943.00 | ||||
| 2 | Farm Equipment | 10,19,969.00 | 27,92,601.00 | ||||
| 3 | Auto Investments | 0.00845 | 2,468.00 | ||||
| 4 | Farm Investments | 0.00065 | 11,718.00 | ||||
| 5 | Investments in Industrial Businesses and Consumer Services | 41,574.00 | 2,00,093.00 | ||||
| Total Segment Revenue | 38,98,601.00 | 1,08,30,823.00 | |||||
| Less: Inter segment revenue | 4,436.00 | 14,380.00 | |||||
| Revenue from operations | 38,94,165.00 | 1,08,16,443.00 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | Automotive | 2,68,394.00 | 7,18,593.00 | ||||
| 2 | Farm Equipment | 2,06,078.00 | 5,56,299.00 | ||||
| 3 | Auto Investments | (9,717.00) | (23,364.00) | ||||
| 4 | Farm Investments | (26,876.00) | (20,009.00) | ||||
| 5 | Investments in Industrial Businesses and Consumer Services | 42,578.00 | 2,03,242.00 | ||||
| Total Profit before tax | 4,80,457.00 | 14,34,761.00 | |||||
| i. Finance cost | 6,315.00 | 17,806.00 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | (46,085.00) | (1,57,342.00) | |||||
| Profit before tax | 5,20,227.00 | 15,74,297.00 | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | Automotive | 38,84,208.00 | 38,84,208.00 | ||||
| 2 | Farm Equipment | 11,41,973.00 | 11,41,973.00 | ||||
| 3 | Auto Investments | 8,61,848.00 | 8,61,848.00 | ||||
| 4 | Farm Investments | 2,13,806.00 | 2,13,806.00 | ||||
| 5 | Investments in Industrial Businesses and Consumer Services | 17,79,336.00 | 17,79,336.00 | ||||
| Total Segment Asset | 78,81,171.00 | 78,81,171.00 | |||||
| Un-allocable Assets | 32,25,450.00 | 32,25,450.00 | |||||
| Net Segment Asset | 1,11,06,621.00 | 1,11,06,621.00 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | Automotive | 29,15,193.00 | 29,15,193.00 | ||||
| 2 | Farm Equipment | 7,02,018.00 | 7,02,018.00 | ||||
| 3 | Auto Investments | 0.00 | 0.00 | ||||
| 4 | Farm Investments | 8,232.00 | 8,232.00 | ||||
| 5 | Investments in Industrial Businesses and Consumer Services | 0.00 | 0.00 | ||||
| Total Segment Liabilities | 36,25,443.00 | 36,25,443.00 | |||||
| Un-allocable Liabilities | 4,29,784.00 | 4,29,784.00 | |||||
| Net Segment Liabilities | 40,55,227.00 | 40,55,227.00 | |||||
| Disclosure of notes on segments | Textual Information(2) | ||||||
| Textual Information(2) | a) Automotive: This segment comprises of sale of automobiles, two wheelers, spares, construction equipments and related services; b) Farm Equipment: This segment comprises of sale of tractors, implements, spares, powerol and related services; c) Auto Investments: This segment in standalone results comprises of investments in automotive related subsidiaries, associates and joint ventures; d) Farm Investments: This segment in standalone results comprises of investments in farm equipment related subsidiaries, associates and joint ventures; e) 'Industrial Businesses and Consumer Services' segment in consolidated results comprises of all other segments like IT services, Real Estate, Hospitality, Logistics, Steel trading and processing, Renewables, After-market, Defence, Agri, etc. that individually do not meet the reporting thresholds. In the standalone results, the segment 'Investments in Industrial Businesses and Consumer Services' includes investments in the aforesaid businesses and investment in Financial Services business. |
|---|
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Items that will not be reclassified to profit or loss | 6.00 | (9.00) |
| Total Amount of items that will not be reclassified to profit and loss | 6.00 | (9.00) | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | (7.00) | (20.00) |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| 1 | Items that will be reclassified to profit or loss | (876.00) | (6,975.00) |
| Total Amount of items that will be reclassified to profit and loss | (876.00) | (6,975.00) | |
| 4 | Income tax relating to items that will be reclassified to profit or loss | (220.00) | (1,755.00) |
| 5 | Total Other comprehensive income | (643.00) | (5,209.00) |
| Whether results are audited or unaudited | Unaudited |
|---|---|
| Declaration of unmodified opinion or statement on impact of audit qualification | Declaration of unmodified opinion |
| Auditor's opinion | |
| Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results | Yes |
| Sr No. | Audit firm's name | Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI | Certificate valid upto | ||
| 1 | BSR & CO LLP | Yes | 31-07-2028 | ||
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