MMMahindra & Mahindra500520Automobiles

Mahindra and Mahindra reported Q2 results largely in line, with farm equipment revenue growing 0.6% against expectations of a decline, and cut industry tractor growth outlook to flattish

By ScoutQuest · Thu 5 Nov 2026, 3:36 PM IST · 1 min read

Revenue growth

27 percent

EBITDA growth

2.2 percent

Margins

11.6 percent

Farm equipment revenue growth

0.6 percent

Planned charging stations by year end

250 ultra-fast chargers

Heard on business television between 15:45:27 - 15:48:27 IST.

• Revenue grew 27%, EBITDA growth came in at 2.2% versus an expected 1%, margins at 11.6%, in line with street estimates but lower year-on-year.
• Farm equipment segment revenue grew 0.6% versus a feared 5% decline.
• Company cut its industry-wide tractor growth outlook from around 5% to flattish, but expects its own core tractor segment to grow mid-to-high teens in FY27.
• Margin pressure expected in Q3, normalizing by Q4 and further improving from FY28.
• Company plans to scale up ultra-fast EV charging stations to around 250 by year-end and launch five new products from June 2027, and expects double-digit LCV industry growth in FY27.

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