Mahindra & Mahindra’s May sales rise 17%, production up 28% YoY

Mahindra & Mahindra Ltd (M&M) reported a 17% year-on-year rise in total sales for May 2025, with volumes reaching 80,458 units compared to 69,011 units in May last year.Production also saw a significant 28% jump, totalling 89,626 units against 70,261 units a year ago. However, exports declined 27% on-year to 2,671 units from 3,652 units in May 2024.
Ahead of the announcement, shares of M&M closed 2.02% higher at ₹3,105.05 on the BSE.

On June 05, HSBC maintained a ‘Buy’ rating on the stock, citing up to 14% upside potential from current levels. It expects M&M’s profitability in the electric vehicle (EV) segment to surprise positively over the next 12–18 months, aided by sales momentum in tractors, SUVs, and battery EVs.Also Read:  M&M’s EV business can spring a positive surprise, taking the shares higher: HSBCMargin improvement supported by production-linked incentive (PLI) benefits could bring EV profitability in line with internal combustion engine (ICE) models.In its Q4 results, M&M had reported a 24.5% increase in revenue and a 19.6% rise in net profit year-on-year, supported by higher volumes across both automotive and farm equipment segments. EBITDA rose 39%, with margins improving to 14.9%.

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