Mahindra & Mahindra Q2 Results FY27: PAT Jumps 38.88% to Rs 5,101.62 Cr, Revenue Rs 44,281.88 Cr
- November 5, 2026
- Posted by: Harsh Piplani
- Category: Results
Quick Answer
Mahindra & Mahindra Q2 Results FY27 were declared on 5 November 2026, and the quarterly results show revenue of Rs 44,281.88 Cr, down 3.96% YoY from Rs 46,105.67 Cr. Net profit rose 38.88% YoY to Rs 5,101.62 Cr against Rs 3,673.32 Cr a year earlier. This YoY growth in profit came on a lower revenue base, and the net profit margin moved to 11.5% from 8.0%.
Mahindra & Mahindra Ltd (M&M) Q2 Results FY27 announced on 5 November 2026, covering the company’s financial performance for the July to September quarter. The results date brings revenue of Rs 44,281.88 Cr and net profit (PAT) of Rs 5,101.62 Cr into view. Mahindra & Mahindra Q2 Results FY27 record a 3.96% YoY dip in revenue and a 38.88% YoY rise in net profit.
This Mahindra & Mahindra Q2 Results results analysis covers the financial highlights, business drivers, FY27 outlook and risks, and Univest readers can follow related figures on the Univest Screener. The Financial Highlights table that follows sets this quarter beside the same quarter last year.
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Mahindra & Mahindra Q2 Results FY27: Financial Highlights
| Metric | Q2 FY27 (Sep 26) | Q2 FY26 (Sep 25) | YoY Change |
|---|---|---|---|
| Revenue | Rs 44281.88 Cr | Rs 46105.67 Cr | -3.96% YoY |
| Net Profit (PAT) | Rs 5101.62 Cr | Rs 3673.32 Cr | +38.88% YoY |
Source: company filing for Mahindra & Mahindra Q2 Results FY27, 5 November 2026. Figures in Rs Crore.
Key Takeaways from Mahindra & Mahindra Q2 Results: What Stands Out
- Revenue of Rs 44,281.88 Cr was down 3.96% YoY, compared with Rs 46,105.67 Cr in the same quarter last year.
- Net profit of Rs 5,101.62 Cr rose 38.88% YoY from Rs 3,673.32 Cr, which is YoY growth in profit despite the lower revenue.
- Net profit margin of 11.5% compares with 8.0% in the comparison quarter, as profit rose while revenue eased.
- Return on equity of 22.00% and return on capital employed of 16.29% are the FY26 ratios reported alongside Mahindra & Mahindra Q2 Results FY27.
- Debt at 1.43 times total assets in FY26 is a risk item, and the performance analysis below puts every figure in order.
Mahindra & Mahindra Q2 Results FY27: Performance Analysis
Mahindra & Mahindra reported revenue of Rs 44,281.88 Cr for the July to September 2026 quarter, down 3.96% YoY from Rs 46,105.67 Cr. Net profit moved the other way, rising 38.88% YoY to Rs 5,101.62 Cr from Rs 3,673.32 Cr, so the two lines diverged within the same quarter.
In this Mahindra & Mahindra Q2 Results FY27 results analysis, the divergence shows up in the net profit margin, which stood at 11.5% against 8.0% in the comparison quarter. Revenue was also down 23.9% quarter on quarter from Rs 58,187.57 Cr, so the quarterly results sit on a lower revenue base than the previous quarter.
Investors reading the Mahindra & Mahindra Q2 Results will track whether the YoY growth in net profit carries into later filings. The reported figures confirm what changed but do not establish its cause, which is where the results analysis turns to the business factors.
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Key Business Factors This Quarter
Net Profit Growth – The results analysis points first to net profit, which rose 38.9% YoY to Rs 5,101.62 Cr and is the headline figure of Mahindra & Mahindra Q2 Results FY27 for this quarter.
Net Profit Margin – Net profit margin improved to 11.5% from 8.0% in the comparison quarter, so each rupee of revenue carried more profit than a year earlier. This quarterly results figure links the profit rise to the lower revenue base.
Return Ratios – Return on equity was 22.00% and return on capital employed was 16.29% in FY26, the latest full-year ratios. These ratios describe the earnings base against which the Q2 FY27 net profit should be read.
FY27 Outlook After Mahindra & Mahindra Q2 Results
FY27 full-year results will depend on the quarters still to be reported and on the sector conditions the company discloses. This results analysis therefore treats the Q2 figures as one data point in the year, not as a guide to the full-year outcome for revenue or profit.
With Mahindra & Mahindra Q2 Results FY27 showing net profit of Rs 5,101.62 Cr and revenue of Rs 44,281.88 Cr, readers can compare each later quarter against those two numbers on the Univest Screener. Net profit stands 38.88% higher YoY while revenue is 3.96% lower, and the risks below describe what to watch.
Key Risks to Watch After Mahindra & Mahindra Q2 Results FY27
Revenue Decline
Revenue declined 4.0% YoY to Rs 44,281.88 Cr in the latest quarter. Investors tracking Mahindra & Mahindra Q2 Results FY27 will watch whether later quarters show the same revenue direction, since the profit rise came on a lower revenue base.
High Debt Level
Debt was high at 1.43 times total assets in FY26. This is a balance sheet ratio, so it sits beside the quarterly net profit, and YoY growth in profit does not change the FY26 level.
Sequential Revenue Drop
Revenue was down 23.9% quarter on quarter from Rs 58,187.57 Cr. The sequential fall is separate from the YoY comparison and places this quarter’s revenue well below the previous quarter’s level.
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Conclusion
Mahindra & Mahindra Q2 Results FY27 combine a 3.96% YoY fall in revenue to Rs 44,281.88 Cr with a 38.88% YoY rise in net profit to Rs 5,101.62 Cr. These quarterly results also show a net profit margin of 11.5% and an FY26 debt level of 1.43 times total assets. Readers of the Mahindra & Mahindra Q2 Results should consult a SEBI-registered advisor before acting on any figure.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice. Research Analyst: Uniresearch Global Pvt. Ltd., SEBI Registration No. INH000013776.
Frequently Asked Questions on Mahindra & Mahindra Q2 Results FY27
What are Mahindra & Mahindra Q2 Results FY27?
Ans. These results cover July to September 2026, with revenue of Rs 44,281.88 Cr and net profit of Rs 5,101.62 Cr, while the Financial Highlights section places both beside the year-ago quarter.
What is the results date for Mahindra & Mahindra Q2 Results FY27?
Ans. The results date was 5 November 2026, so the figures describe the July to September quarter, as the opening paragraphs of this article explain alongside the revenue and net profit numbers.
What revenue was reported in Mahindra & Mahindra Q2 Results FY27?
Ans. Mahindra & Mahindra reported revenue of Rs 44,281.88 Cr in Q2 FY27, compared with Rs 46,105.67 Cr a year earlier, which means revenue is lower, as the Financial Highlights table shows.
What net profit was reported in Mahindra & Mahindra Q2 Results FY27?
Ans. Net profit in Q2 FY27 was Rs 5,101.62 Cr against Rs 3,673.32 Cr a year earlier, so the figure is higher, and the Key Takeaways section lists it beside the revenue move.
How much YoY growth did revenue show in Mahindra & Mahindra Q2 Results FY27?
Ans. Revenue showed a 3.96% YoY decline from Rs 46,105.67 Cr to Rs 44,281.88 Cr, while net profit moved up, as the Performance Analysis section explains in more detail.
Did net profit rise or fall in Mahindra & Mahindra Q2 Results?
Ans. Net profit rose in the Mahindra & Mahindra Q2 Results, up 38.88% YoY to Rs 5,101.62 Cr, while revenue fell 3.96% YoY, so the net profit margin moved to 11.5% from 8.0%.
What was the net profit margin in Mahindra & Mahindra Q2 Results FY27?
Ans. The net profit margin was 11.5% in Q2 FY27 against 8.0% in the comparison quarter, which means each rupee of revenue carried more profit, as the Key Business Factors section notes.
What were the return ratios reported with Mahindra & Mahindra Q2 Results?
Ans. Return on equity was 22.00% and return on capital employed was 16.29% in FY26, while the Q2 FY27 net profit of Rs 5,101.62 Cr should be read against them, as the factors section shows.
What business factors shaped Mahindra & Mahindra Q2 Results FY27?
Ans. Business factors for Mahindra & Mahindra Q2 Results FY27 include 38.9% YoY net profit growth, an 11.5% net profit margin and FY26 return ratios, so the Key Business Factors section lists them in that order.
What are the key risks after Mahindra & Mahindra Q2 Results FY27?
Ans. Risks include revenue down 4.0% YoY, debt of 1.43 times total assets in FY26 and revenue down 23.9% quarter on quarter, as the Key Risks section sets out in order.
What is the outlook after Mahindra & Mahindra Q2 Results?
Ans. FY27 full-year results will depend on later quarters, so these results are one data point, while the Outlook section compares future quarters with net profit of Rs 5,101.62 Cr and revenue of Rs 44,281.88 Cr.
Where can I find the complete Mahindra & Mahindra Q2 Results FY27 data?
Ans. The complete data sits in the Financial Highlights table above, while the Univest Screener lets readers follow related figures, so this page remains the reference for the quarterly results and net profit.
