Mahindra & Mahindra Ltd
Mahindra & Mahindra Q4 FY25 earnings call: Revenue & Margins
Q4 FY25 earnings call: what management guided on revenue, margins and order book.
The short version
Auto segment expects mid to high teens growth, having already achieved 20% growth in SUV volumes with market share up 210 bps to 22.5%. Mahindra & Mahindra has committed to 15% to 20% EPS growth, consistently maintaining an 18% ROE with a 63% annualized growth in ROE historically (Page 6).
From Mahindra & Mahindra Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Auto segment expects mid to high teens growth, having already achieved 20% growth in SUV volumes with market share up 210 bps to 22.5%.
- Farm segment targets further growth beyond current 43.3% market share, with a focus on margin improvements.
- International business aims to finish fiscal 26 with 2X growth.
- Electric vehicles (EVs) show steady strong booking momentum, anticipated volume growth with broader geographic availability (Tier 1, 2, 3 cities).
- New product launches planned: In 2026, 3 ICE products (two mid-cycle refreshes), two born electric products, and two LCVs.
- Capacity expansion planned at about 15% CAGR, but volume growth may not match capacity increase 1:1 due to product replacements.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Mahindra & Mahindra Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Mahindra & Mahindra continues to focus on leveraging existing manufacturing assets and dealer networks to maintain cost efficiency rather than setting up entirely new factories (Page 22).
- There are ongoing cost reduction programs for recently launched ICE products for improved margins (Pages 15-16).
- Capacity expansions are planned but not one-to-one correlated with volume growth since some new capacities will replace existing products (Page 16).
- The company is monitoring and negotiating CAFE norms, expecting about 25% of the portfolio needs to comply by 2027 (Page 26).
- Mahindra is actively seeking strategic acquisitions that deliver scale, strong returns, customer value, and execution capability (Page 24).
2 more points management made on capital expenditure plans
Top-ranked in Automobiles
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Mahindra & Mahindra Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Booking momentum for the EV business is very steady and strong.
- New bookings are ongoing, but there is an average waiting period of about four months currently.
- There is some uncertainty in delivery timelines as committed delivery dates have not yet been shared with customers.
- The company is cautious in ramping up production and deliveries to maintain customer experience quality.
- Initial delivery phases saw skewed capacity toward BE6 variants, but demand skewed 60:40 in favor of the 9E variant.
- Production adjustments initiated 5-6 months ago aim to meet this 9E demand mix by June or July.
2 more points management made on order book & pipeline
Mahindra & Mahindra Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹55.0K Cr, net profit ₹5.3K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What M & M's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
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Frequently Asked Questions
What were Mahindra & Mahindra Ltd Q4 FY25 results?
Auto segment expects mid to high teens growth, having already achieved 20% growth in SUV volumes with market share up 210 bps to 22.5%. Mahindra & Mahindra has committed to 15% to 20% EPS growth, consistently maintaining an 18% ROE with a 63% annualized growth in ROE historically (Page 6).
What is Mahindra & Mahindra Ltd share price analysis?
Mahindra & Mahindra Ltd currently shows a neutral. The stock trades at a P/E of 22.2 with a market cap of ₹426,319 Cr. Investors should review the full earnings analysis for detailed insights.
Is Mahindra & Mahindra Ltd planning capital expenditure?
Mahindra & Mahindra continues to focus on leveraging existing manufacturing assets and dealer networks to maintain cost efficiency rather than setting up entirely new factories (Page 22).
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.