| Scrip Code | 500520 |
|---|---|
| NSE Symbol | M&M |
| MSEI Symbol | NOTLISTED |
| ISIN | INE101A01026 |
| Name of company | Mahindra and 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 | Consolidated |
| 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 |
| 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 | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | 52,09,975.00 | 1,43,66,364.00 | |
| Other income | 85,852.00 | 2,45,095.00 | |
| Total income | 52,95,827.00 | 1,46,11,459.00 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 27,81,619.00 | 82,41,348.00 |
| (b) | Purchases of stock-in-trade | 2,22,263.00 | 6,33,403.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 2,10,778.00 | (15,653.00) |
| (d) | Employee benefit expense | 3,33,588.00 | 9,49,239.00 |
| (e) | Finance costs | 2,40,530.00 | 7,18,352.00 |
| (f) | Depreciation, depletion and amortisation expense | 2,16,289.00 | 5,37,934.00 |
| (f) | Other Expenses | ||
| 1 | Loss from investments related to subsidiaries, associates and joint ventures | 5,384.00 | 17,835.00 |
| 2 | Other expenses | 6,45,689.00 | 18,13,849.00 |
| Total other expenses | 6,51,073.00 | 18,31,684.00 | |
| Total expenses | 46,56,140.00 | 1,28,96,307.00 | |
| 3 | Total profit before exceptional items and tax | 6,39,687.00 | 17,15,152.00 |
| 4 | Exceptional items | (29,294.00) | (29,294.00) |
| 5 | Total profit before tax | 6,10,393.00 | 16,85,858.00 |
| 6 | Tax expense | ||
| 7 | Current tax | 1,63,038.00 | 4,96,524.00 |
| 8 | Deferred tax | (8,323.00) | (5,638.00) |
| 9 | Total tax expenses | 1,54,715.00 | 4,90,886.00 |
| 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 | 4,55,678.00 | 11,94,972.00 |
| 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 | 46,469.00 | 1,41,208.00 |
| 16 | Total profit (loss) for period | 5,02,147.00 | 13,36,180.00 |
| 17 | Other comprehensive income net of taxes | 13,109.00 | 37,732.00 |
| 18 | Total Comprehensive Income for the period | 5,15,256.00 | 13,73,912.00 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | 4,67,464.00 | 12,43,128.00 | |
| Total profit or loss, attributable to non-controlling interests | 34,683.00 | 93,052.00 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 4,80,575.00 | 12,77,957.00 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 34,681.00 | 95,955.00 | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 55,864.00 | 55,864.00 | |
| 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 | 41.85 | 111.32 | |
| Diluted earnings (loss) per share from continuing operations | 41.69 | 110.69 | |
| 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 | 41.85 | 111.32 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 41.69 | 110.69 | |
| 24 | Debt equity ratio | 5.00 | 5.00 |
| 25 | Debt service coverage ratio | 605.00 | 1248.00 |
| 26 | Interest service coverage ratio | 3813.00 | 3534.00 |
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | 1. Notes to the financial results: Please refer pdf file. 2.'Revenue from Operations' disclosed above inlcudes 'Revenue from Operations' and 'Income from investments related to subsidiaries, associates and joint ventures'. Quarter ended (01.10.2025 to 31.12.2025) : Rs.52,099.75 crores Revenue from Operations : Rs. 51,579.95 crores Income from investments related to subsidiaries, associates and joint ventures : Rs. 519.80 crores Nine months ended (01.04.2025 to 31.12.2025) : Rs.1,43,663.64 crores Revenue from Operations : Rs. 1,42,901.23 crores Income from investments related to subsidiaries, associates and joint ventures : Rs. 762.41 crores |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | Debt Service Coverage Ratio is as below- Debt Service Coverage ratio (percentage) Quarter ended (01.10.2025 to 31.12.2025): 605 % Nine months ended (01.04.2025 to 31.12.2025): 1248 % In the Consolidated results published, the debt service coverage ratio is expressed as a multiple (times), and not as a percentage. Debt debt service coverage ratio (times) is as below- Quarter ended (01.10.2025 to 31.12.2025): 6.05 Nine months ended (01.04.2025 to 31.12.2025): 12.48 |
| Interest service coverage ratio | Interest Service Coverage Ratio is as below- Interest Service Coverage ratio (percentage) Quarter ended (01.10.2025 to 31.12.2025): 3813% Nine months ended (01.04.2025 to 31.12.2025): 3534% In the Consolidated results published, the interest service coverage ratio is expressed as a multiple (times), and not as a percentage. Interest service coverage ratio (times) is as below- Quarter ended (01.10.2025 to 31.12.2025): 38.13 Nine months ended (01.04.2025 to 31.12.2025): 35.34 |
| 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 | Consolidated | Consolidated | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| 1 | Automotive | 30,37,037.00 | 83,53,995.00 | ||||
| 2 | Farm Equipment | 11,50,069.00 | 32,54,629.00 | ||||
| 3 | Financial Services | 5,43,515.00 | 15,42,403.00 | ||||
| 4 | Industrial Businesses and Consumer Services | 6,20,062.00 | 16,13,375.00 | ||||
| Total Segment Revenue | 53,50,683.00 | 1,47,64,402.00 | |||||
| Less: Inter segment revenue | 1,40,708.00 | 3,98,038.00 | |||||
| Revenue from operations | 52,09,975.00 | 1,43,66,364.00 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | Automotive | 2,60,731.00 | 7,20,731.00 | ||||
| 2 | Farm Equipment | 1,25,874.00 | 4,49,756.00 | ||||
| 3 | Financial Services | 1,09,379.00 | 2,52,919.00 | ||||
| 4 | Industrial Businesses and Consumer Services | 1,19,489.00 | 2,70,298.00 | ||||
| Total Profit before tax | 6,15,473.00 | 16,93,704.00 | |||||
| i. Finance cost | 17,298.00 | 48,054.00 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | (58,687.00) | (1,81,416.00) | |||||
| Profit before tax | 6,56,862.00 | 18,27,066.00 | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | Automotive | 53,83,246.00 | 53,83,246.00 | ||||
| 2 | Farm Equipment | 16,84,244.00 | 16,84,244.00 | ||||
| 3 | Financial Services | 1,49,95,216.00 | 1,49,95,216.00 | ||||
| 4 | Industrial Businesses and Consumer Services | 42,18,209.00 | 42,18,209.00 | ||||
| Total Segment Asset | 2,62,80,915.00 | 2,62,80,915.00 | |||||
| Un-allocable Assets | 36,58,403.00 | 36,58,403.00 | |||||
| Net Segment Asset | 2,99,39,318.00 | 2,99,39,318.00 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | Automotive | 31,35,305.00 | 31,35,305.00 | ||||
| 2 | Farm Equipment | 9,78,475.00 | 9,78,475.00 | ||||
| 3 | Financial Services | 1,26,24,094.00 | 1,26,24,094.00 | ||||
| 4 | Industrial Businesses and Consumer Services | 18,28,014.00 | 18,28,014.00 | ||||
| Total Segment Liabilities | 1,85,65,888.00 | 1,85,65,888.00 | |||||
| Un-allocable Liabilities | 10,22,391.00 | 10,22,391.00 | |||||
| Net Segment Liabilities | 1,95,88,279.00 | 1,95,88,279.00 | |||||
| Disclosure of notes on segments | Textual Information(2) | ||||||
| Textual Information(2) | The reportable segments are as follows: 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)Financial Services: This segment comprises of offering financial products ranging from retail and other loans, SME finance, housing finance, mutual funds and life and non-life insurance broking services; d)'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 consolidated results, the reportable segments also include investments in associates and joint ventures in respective businesses. |
|---|
| 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 | Consolidated | Consolidated |
| 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 | (1,073.00) | 1,195.00 |
| Total Amount of items that will not be reclassified to profit and loss | (1,073.00) | 1,195.00 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | (201.00) | (739.00) |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| 1 | Items that will be reclassified to profit or loss | 13,749.00 | 34,762.00 |
| Total Amount of items that will be reclassified to profit and loss | 13,749.00 | 34,762.00 | |
| 4 | Income tax relating to items that will be reclassified to profit or loss | (232.00) | (1,036.00) |
| 5 | Total Other comprehensive income | 13,109.00 | 37,732.00 |
| 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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