Mahindra Group delivered a robust operating performance across all businesses, except TechM. Auto grows rapidly, Farm remains resilient despite tough market conditions and Growth gems are on track. TechM’s performance was impacted by weak demand and exits from non-core accounts. M&M standalone PAT up 67% Q2, up 79% YTD.

Performance Unleashed

• SUV revenue up 28%; revenue market share at 19.9%, up 90 bps
• #1 in LCVs <3.5T: market share at 49.6%, up 280 bps; highest in last 5 years
• #1 in Tractors: market share at 41.6%, up 150 bps
• #1 in electric 3 wheelers: volumes up 74%; market share at 61.1%
• M&M standalone PAT at INR 3,452 cr
• H1 F24 RoE at 20%; EPS at INR 52.4, up 18%

Key Highlights

Read what our leaders have to say on Q2 and H1 F24 performance