Mahindra Clocks ₹1.59 Lakh Cr Revenue in FY25, Delivers 6300 EVs Till Date

Mahindra delivered an impressive performance in FY25, marked by strong volume growth, record profitability, and increased market share across key segments, notably in SUVs and tractors. The company’s auto and farm equipment businesses played a pivotal role in driving consolidated revenue to ₹1,59,211 crore, reflecting a 14 per cent year-on-year increase. Profit after tax (excluding the impact of KG Mobility) rose by 20 per cent to ₹12,929 crore, underscoring Mahindra’s operational strength and execution efficiency. 

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The SUV segment was a standout performer, with Mahindra reinforcing its leadership position. The company reported a revenue market share of 22.5 per cent for the full year, a 210 basis points gain compared to the previous year. In Q4 FY25 alone, Mahindra sold 253,000 vehicles, marking an 18 per cent growth year-on-year, including 149,000 utility vehicles. Notably, the company launched a new electric SUV (eSUV) that garnered 30,179 bookings on the first day and delivered 6,300 units in the same quarter. This contributed to a 23.5 per cent revenue market share in Q4, a sharp 310 basis point jump. Standalone Auto PBIT (Profit Before Interest and Tax) for FY25 rose by 30 per cent to ₹8,277 crore, with the PBIT margin improving by 110 basis points to 9.5 per cent.

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Mahindra’s Farm Equipment Sector (FES) also delivered record results, achieving its highest-ever annual market share of 43.3 per cent, up 170 basis points from the previous year. Tractor sales rose by 12 per cent to 420,636 units in FY25, while Q4 saw a 23 per cent increase with 87,138 units sold. This led to a quarterly market share of 41.2 per cent, 180 basis points higher than Q4 FY24. The segment’s standalone PBIT grew by 30 per cent to ₹5,371 crore, with full-year margins reaching 18.4 per cent, up 210 basis points. In Q4, margins further improved to 19.4 per cent. However, international farm operations faced challenges, resulting in a ₹654 crore one-time charge due to strategic restructuring in two global markets. 

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Electric mobility is becoming a vital growth lever for Mahindra. The company recorded strong demand for its eSUV and secured leadership in the electric three-wheeler space, holding a 42.9 per cent market share. Over the past three years, Mahindra’s electric three-wheeler volumes have grown 4.5 times. While vehicle sales from Mahindra Electric Automobile Ltd. (MEAL) contributed to the Q4 volume surge, revenues from this entity were not included in the standalone topline, as MEAL operates as a separate legal entity.

Mahindra’s robust financial discipline and execution strategies were evident in its Q4 standalone revenue, which rose 24 per cent to ₹31,609 crore. Standalone profit after tax for the quarter increased by 22 per cent to ₹2,437 crore. The company also generated ₹10,000 crore in cash during the fiscal year, reflecting strong capital allocation and cash flow management. 

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Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd. said, “We continued our outstanding performance for the year in Q4-F25, with significant gain of 310 bps YoY in SUV revenue share, and 480 bps YoY in LCV (< 3.5T) market share. In Tractors, we reached our highest-ever Q4 market share of 41.2%, gaining 180 bps YoY. In F25, our Auto Standalone PBIT margin improved by 110 bps and core tractor PBIT margins improved by 200 bps.”

Looking ahead, Mahindra appears well-positioned for continued growth in FY26, backed by a solid order book, expanding electric vehicle portfolio, and sustained profitability in core sectors. The company announced a dividend of ₹25.3 per share, a 20 per cent increase from the previous year.