MAHINDRA & MAHINDRA LIMITED - Quarterly Result Update Q4'25

Mahindra & Mahindra Q4 Results: Revenue and Profit up 20% from last year, beats estimates. Net sales (including other operating income) of Mahindra & Mahindra has increased 20.16% to Rs 42599.31 crore. Sales of Automotive segment has gone up 23.89% to Rs 25,902.39 crore (accounting for 59.21% of total sales). Sales of Farm Equipment segment has gone up 16.83% to Rs 7,933.25 crore (accounting for 18.13% of total sales). Sales of Financial Services segment rose 13.97% to Rs 4,827.12 crore (accounting for 11.03% of total sales). Sales of Industrial Businesses & Consumer Services segment has gone up 10.12% to Rs 5,087.20 crore (accounting for 11.63% of total sales). Inter-segment sales rose Rs 1,101.30 crore to Rs 1,150.65 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 3.40% to Rs 4,306.10 crore. PBIT of Automotive segment rose 10.21% to Rs 2,052.01 crore (accounting for 47.65% of total PBIT). PBIT of Farm Equipment segment rose 24.51% to Rs 942.14 crore (accounting for 21.88% of total PBIT). PBIT of Financial Services segment fell 32.58% to Rs 599.68 crore (accounting for 13.93% of total PBIT). PBIT of Industrial Businesses & Consumer Services segment rose 8.47% to Rs 712.27 crore (accounting for 16.54% of total PBIT). PBIT margin of Automotive segment fell from 8.91% to 7.92%. PBIT margin of Farm Equipment segment rose from 11.14% to 11.88%. PBIT margin of Financial Services segment fell from 21.00% to 12.42%. PBIT margin of Industrial Businesses & Consumer Services segment fell from 14.21% to 14.00%. Overall PBIT margin fell from 11.39% to 9.84%. Operating profit margin has declined from 18.63% to 18.57%, leading to 19.79% rise in operating profit to Rs 7,910.94 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 54.76% to 57.40%. Purchase of finished goods cost fell from 4.36% to 4.23%. Employee cost decreased from 7.31% to 6.63%. Other expenses fell from 15.29% to 13.70%.