Along with the results, the M&M board also recommended a final dividend of Rs 33 per ordinary equity share of face value Rs 5 each for FY26. The record date for the final dividend is Friday, July 3, 2026.
The Scorpio-maker’s revenue from operations came in at Rs 39,601 crore, up 25.3% from Rs 31,609 crore recorded in the corresponding quarter of the previous financial year.
EBITDA for the quarter under review stood at Rs 5,509 crore, a jump of 31% from Rs 4,219 crore posted in Q4FY25, M&M said in an exchange filing.
The company sold 3.06 lakh units during the fourth quarter, up 21% from 2.53 vehicles sold in the same period last year. Tractors came in at 1.19 lakh units, an increase of 36% from about 88,000 units sold in Q4FY25.
On a consolidated basis, profit rose 42% year-on-year (YoY) to Rs 4,667.6 crore, compared with Rs 3,295 crore.
Revenue increased 29.1% to Rs 54,982 crore from Rs 42,599 crore in the same period last year, while EBITDA grew 27.5% to Rs 10,127.3 crore, up from Rs 7,941.5 crore YoY. Rajesh Jejurikar, Executive Director and CEO (Auto and Farm), said SUV revenue share rose by 60 basis points year-on-year in Q4 FY26, helping the company retain its No. 1 position. He added that M&M became the fifth-largest exporter in the PV and CV segments in FY26. In the tractor business, market share increased by 90 basis points in Q4, while the full-year share stood at 43.6%, up 30 basis points.
The company also recorded its highest-ever tractor billing of over 5 lakh units in FY26, supported by strong margin performance.
Anish Shah, Group CEO and Managing Director of the Mahindra Group, said FY26 was a defining year, marked by strong execution and standout performance across several group companies despite geopolitical headwinds and multiple disruptions.
He added that the group’s Growth Gems delivered strong momentum and that the company is well positioned to accelerate even in an uncertain environment.
M&M shares gained over 1.5% to their day’s high of Rs 3,154 on the BSE.