Any current/future new fundraising through debt or equity?

Mahindra & Mahindra plans a listing of one of its businesses, Last Mile Mobility, which is expected around Fiscal Year 2027 (Calendar Year 2027). The company will discuss its next capital expenditure (CapEx) cycle in July, which will include investments in new products and facilities, particularly from the Nagpur plant. The planned 3-year CapEx cycle is ongoing within previously announced amounts, indicating no immediate large-scale new equity or debt fundraising beyond this. No explicit mention of new debt or equity fundraising is made in the provided excerpts, but the listing of Last Mile Mo

Any current/future capex/capital investment/strategic investment?

CapEx is planned within the current 3-year cycle, with more details to be shared in July. New products, including 10 ICE SUVs and 6 EVs, are being developed, many from the NU_IQ platform. The NU_IQ platform supports both ICE and EV models with high fungibility, enabling flexible production. Significant capacity ramp-up is planned for existing models like the 9S in FY27, with no major new launches until NU_IQ lines begin. Real estate, logistics, and new energy businesses (generators plus solar) are highlighted as value-creating areas with ongoing investments. Aerospace ambitions aim to become a

Future growth expectations in sales/revenue/volumes?

Auto revenue grew 32% in the recent quarter; farm revenue grew 26%, Growth Gems 30%, and Mahindra Finance 14%. For the full year, standalone revenue grew 25% and PAT grew 34%. SUV growth guidance remains mid-to-high teens for the third successive year, despite risks like fuel price increases or commodity costs. Farm machinery volume grew 32%; eyeing continued volume and margin growth. Electric vehicle (EV) penetration reached 9.6%, exceeding 10% in the last two months, signaling a strong growth trend. Long-term EPS growth target is 15-20% annually over the next 5 years. Long-term o

Future growth expectations in earnings/operating earnings/profits/EPS?

Mahindra & Mahindra targets a longer-term EPS growth of 15%-20% annually over the next 5 years (Page 14). The company experienced an exceptional 57% annualized EPS growth over the last five years but does not expect this rate to continue (Page 4). Management emphasizes focusing on sustainable, underlying growth rather than short-term quarterly performance (Page 14). PBIT margins for EVs are improving; the EV portfolio was PBIT positive in Q4, roughly at a 5% margin, about half of the overall auto portfolio margin (Page 12). The company is confident about growing its businesses meaningfully ove

Current/ Expected Orderbook/ Pending Orders?

In the last 12+ months, Mahindra's aerospace business has secured about $1 billion in orders. This is a significant increase compared to $150 million of orders accumulated over the previous 12-15 years. Global OEMs have shown strong interest in Mahindra as a reliable supplier amid supply chain challenges. These OEMs have extended support for acquisitions to help Mahindra scale up, with an emphasis on guaranteed returns over 5 years. The aspiration is to become one of the Top 5 aero structures companies globally within the next 3-5 years. Orderbook growth reflects building a long-term value-cre

IN US

Mahindra & Mahindra LtdQ1 FY27Automobiles

Mahindra & Mahindra Ltd Q1 FY27 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹3,406P/E: 22.6Market Cap: ₹4.3L CrSector: Automobiles

Management growth scorecard

Revenue

N/A

Margin

N/A

Fundraise

N/A

Order

N/A

Capex

N/A

0 of 0 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

→Auto revenue grew 32% in the recent quarter; farm revenue grew 26%, Growth Gems 30%, and Mahindra Finance 14%.
→For the full year, standalone revenue grew 25% and PAT grew 34%.
→SUV growth guidance remains mid-to-high teens for the third successive year, despite risks like fuel price increases or commodity costs.
→Farm machinery volume grew 32%; eyeing continued volume and margin growth.
→Electric vehicle (EV) penetration reached 9.6%, exceeding 10% in the last two months, signaling a strong growth trend.
→Long-term EPS growth target is 15-20% annually over the next 5 years.
→Long-term outlook intends sustainable revenue and profit growth, focusing on execution and product range expansion rather than short-term market share pursuit.
→Aerospace and services segments hold potential but are viewed as long-term growth areas (3-5+ years).

Margin guidance

→Mahindra & Mahindra targets a longer-term EPS growth of 15%-20% annually over the next 5 years (Page 14).
→The company experienced an exceptional 57% annualized EPS growth over the last five years but does not expect this rate to continue (Page 4).
→Management emphasizes focusing on sustainable, underlying growth rather than short-term quarterly performance (Page 14).
→PBIT margins for EVs are improving; the EV portfolio was PBIT positive in Q4, roughly at a 5% margin, about half of the overall auto portfolio margin (Page 12).
→The company is confident about growing its businesses meaningfully over the next decade despite uncertainty, leveraging India's strong consumption, infrastructure, and reform tailwinds (Page 5).
→Group ROE is targeted around 18%, with current performance at 20% (Page 4).

3 more insights locked — sign up free to unlock

Fundraise plans

→Mahindra & Mahindra plans a listing of one of its businesses, Last Mile Mobility, which is expected around Fiscal Year 2027 (Calendar Year 2027).
→The company will discuss its next capital expenditure (CapEx) cycle in July, which will include investments in new products and facilities, particularly from the Nagpur plant.
→The planned 3-year CapEx cycle is ongoing within previously announced amounts, indicating no immediate large-scale new equity or debt fundraising beyond this.
→No explicit mention of new debt or equity fundraising is made in the provided excerpts, but the listing of Last Mile Mobility could be a form of equity capital raising.
→Investments in renewable energy and product development are planned but appear to be within current budgeting frameworks without signaling fresh fundraising requirements.

Order book

→In the last 12+ months, Mahindra's aerospace business has secured about $1 billion in orders.
→This is a significant increase compared to $150 million of orders accumulated over the previous 12-15 years.
→Global OEMs have shown strong interest in Mahindra as a reliable supplier amid supply chain challenges.
→These OEMs have extended support for acquisitions to help Mahindra scale up, with an emphasis on guaranteed returns over 5 years.
→The aspiration is to become one of the Top 5 aero structures companies globally within the next 3-5 years.
→Orderbook growth reflects building a long-term value-creating book rather than focusing on current revenue levels.

Capex plans

→CapEx is planned within the current 3-year cycle, with more details to be shared in July.
→New products, including 10 ICE SUVs and 6 EVs, are being developed, many from the NU_IQ platform.
→The NU_IQ platform supports both ICE and EV models with high fungibility, enabling flexible production.
→Significant capacity ramp-up is planned for existing models like the 9S in FY27, with no major new launches until NU_IQ lines begin.
→Real estate, logistics, and new energy businesses (generators plus solar) are highlighted as value-creating areas with ongoing investments.
→Aerospace ambitions aim to become a Top 5 global aero structures company, with potential acquisitions considered if return thresholds are met.
→Strategic investments in AI aim to embed capabilities internally across businesses, with 15 targeted transformative projects underway.
→The listing of Last Mile Mobility is planned as part of value creation from group companies.

How does Mahindra & Mahindra Ltd rank vs peers in Automobiles?

Pro feature

1Mahindra & Mahindra Ltd

See full Automobiles sector rankings

Want more stocks like Mahindra & Mahindra Ltd?

Build an AI portfolio filtered by sector, market cap, and growth rank. Takes 2 minutes.

Build my portfolio