M&M Q4 Results 2026: Net Profit Up 42% to ₹4,667 Crore, Declares ₹33 Dividend
Quick Summary
Mahindra & Mahindra Q4 FY26 Results: Net profit increased nearly 42% YoY to ₹4,667.57 crore. Revenue from operations also grew about 29% to ₹54,891.55 crore. The company’s board has recommended a final dividend of ₹33 per share for FY26.
Mahindra & Mahindra Q4 FY26 Results: On 5 May 2026, auto major Mahindra & Mahindra (M&M) reported strong results for the quarter ended 31 March 2026, as both revenue and profit showed sharp year-on-year growth.
Mahindra & Mahindra Q4 FY26 Results Highlights
| Metric | Q4 FY26 | Q3 FY26 | QoQ % | Q4 FY25 | YoY % |
| Revenue from Ops (₹ Cr) | 54,891.55 | 51,579.95 | +6.42% | 42,585.67 | +28.90% |
| Total Income (₹ Cr) | 55,976.75 | 52,958.27 | +5.70% | 43,301.04 | +29.27% |
| EBITDA (₹ Cr) | 9,626.08 | 9,586.74 | +0.41% | 7,897.30 | +21.89% |
| EBITDA Margin % | 17.54% | 18.59% | −1.05 pp | 18.55% | −1.01 pp |
| Net Profit — Owners (₹ Cr) | 4,667.57 | 4,674.64 | −0.15% | 3,295.17 | +41.65% |
Source: Company Filing
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Consolidated revenue from operations came in at ₹54,891.55 crore in Q4 FY26, up ₹12,305.88 crore or 28.90% from ₹42,585.67 crore in Q4 FY25. On a sequential basis, operating revenue grew ₹3,311.60 crore or 6.42% from ₹51,579.95 crore in Q3 FY26.
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Total income for the quarter stood at ₹55,976.75 crore, up ₹12,675.71 crore or 29.27% year-on-year from ₹43,301.04 crore in Q4 FY25. Against Q3 FY26, total income rose ₹3,018.48 crore or 5.70% from ₹52,958.27 crore.
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EBITDA stood at ₹9,626.08 crore in Q4 FY26. That is up ₹1,728.78 crore or 21.89% from ₹7,897.30 crore in Q4 FY25. Sequentially, EBITDA edged up by ₹39.34 crore or 0.41% from ₹9,586.74 crore in Q3 FY26.
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EBITDA margin for Q4 FY26 came in at 17.54%, compared to 18.59% in Q3 FY26 and 18.55% in Q4 FY25.
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Consolidated net profit after tax to owners of the company stood at ₹4,667.57 crore in Q4 FY26, up ₹1,372.40 crore or 41.65% from ₹3,295.17 crore in Q4 FY25. PAT to owners fell marginally by ₹7.07 crore or 0.15% from ₹4,674.64 crore in Q3 FY26.
Mahindra & Mahindra Q4 FY26 Segment wise Performance
Mahindra & Mahindra reported broad-based growth across all segments in Q4 FY26.
Automotive business led the performance with a 32.39% YoY rise, followed by strong growth in farm equipment and industrial businesses.
Overall, total segment revenue increased 29.06% YoY to ₹56,463.75 crore, reflecting solid demand across core business segments.
| Segment | Q4 FY26 (₹ Cr) | Q4 FY25 (₹ Cr) | YoY % |
| Automotive | 34,294.18 | 25,902.39 | +32.39% |
| Farm Equipment | 10,022.10 | 7,933.25 | +26.33% |
| Financial Services | 5,525.29 | 4,827.12 | +14.47% |
| Industrial Businesses & Consumer Services | 6,622.18 | 5,087.20 | +30.17% |
| Total Segment Revenue | 56,463.75 | 43,749.96 | +29.06% |
Mahindra & Mahindra Dividends & M&M Stock Performance
The board has recommended a final dividend of ₹33 per share, up from ₹25.30 per share in FY2024–25, marking an increase of ₹7.70 per share. The record date for the dividend is July 3, 2026.
Following the results, Mahindra & Mahindra shares showed some recovery and were trading 1.81% higher as of 1:54 PM. Over the past one year (May 2025 to May 2026), the stock is up 4.78%, but on a year-to-date basis, it remains down 16%.