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India Monetary Policy RBI MPC Decisions — May 05, 2026

India Monetary Policy & Rate Changes

17 high priority17 total filings analysed

Executive Summary

Across 17 filings in the India Monetary Policy & Rate Changes stream, dominant themes emerge from FY26 results of heavyweights L&T (6 filings) and M&M (6 filings), showcasing robust YoY growth: L&T order inflows +22% to ₹435,590cr, revenues +12% to ₹285,874cr, recurring PAT +18% to ₹17,238cr, order book +28% to ₹740,327cr; M&M revenues +24.6% to ₹197,793cr, PAT +32% to ₹18,622cr led by Auto +29.5%. Dividend hikes signal shareholder returns (L&T +12% to ₹38/sh, M&M +30% to ₹33/sh, TCS ₹31/sh), but mixed sentiments stem from one-offs like L&T's ₹1,155cr provision dragging total PAT and Q4 -3% YoY, plus M&M QoQ segment declines (Farm Eq revenue -12.9%). TCS (3 filings) and TVS (1) focus on steady dividends and upcoming results, while the lone RBI rate change filing (May 5, 2026) lacks details, limiting macro insights. Portfolio-level: 12/17 filings highlight double-digit YoY revenue/PAT growth averaging +20%, contrasting QoQ softness in Q4; infra/auto sectors outperform IT, with capital returns up amid potential rate stability. Implications: Bullish for cyclical plays pre-AGM/dividend catalysts, but monitor Q4 weakness for rate-sensitive capex.

Tracking the trend? Catch up on the prior India Monetary Policy RBI MPC Decisions digest from April 28, 2026.

Investment Signals(10)

  • Larsen & Toubro↓(BULLISH)
    ▲

    Record order inflows +22% YoY to ₹435,590cr, order book +28% to ₹740,327cr all-time high signals multi-year revenue visibility outperforming infra peers

  • Larsen & Toubro↓(BULLISH)
    ▲

    Recurring PAT +18% YoY to ₹17,238cr despite total PAT hit by provision, revenues +12% YoY to ₹285,874cr beats FY25 trends

  • Larsen & Toubro↓(BULLISH)
    ▲

    Final dividend hiked 12% to ₹38/sh from ₹34, record date May 22, 2026 enhances yield vs prior years

  • Mahindra & Mahindra↓(BULLISH)
    ▲

    FY26 revenues +24.6% YoY to ₹197,793cr, PAT +32.3% to ₹18,622cr driven by Auto +29.5-29.7% outpaces sector growth

  • Mahindra & Mahindra↓(BULLISH)
    ▲

    Final dividend +30% to ₹33/sh (660% on ₹5 FV) from ₹25.3, EPS +32% to ₹153.10 signals strong capital allocation

  • Mahindra & Mahindra↓(BULLISH)
    ▲

    Q4 revenues +28.9% YoY to ₹54,892cr, Auto SUV market share +260bps to 25.3%, Farm share +30bps to 43.6%

  • Tata Consultancy Services↓(BULLISH)
    ▲

    Steady final dividend ₹31/sh for FY26, record date May 25, 2026, consistent payout vs IT peers post strong FY

  • Larsen & Toubro↓(BULLISH)
    ▲

    Q4 revenues +11% YoY to ₹82,762cr, recurring Q4 PAT +5% to ₹5,289cr offsets total PAT drag

  • Mahindra & Mahindra↓(BULLISH)
    ▲

    All segments YoY growth (Auto +29.5%, Farm +20.3%), MMFSL PAT +60%, Growth Gems +50% broad-based strength

  • Larsen & Toubro vs M&M(BULLISH)
    ▲

    L&T order book growth +28% dwarfs M&M segment gains, positions infra leader for capex cycle

Risk Flags(8)

Opportunities(8)

  • Larsen & Toubro/Dividend Capture↓(OPPORTUNITY)
    ◆

    Buy before May 22, 2026 record date for ₹38/sh payout (+12% YoY), yield boost amid record order book

  • Mahindra & Mahindra/Market Share Gains↓(OPPORTUNITY)
    ◆

    Auto SUV +260bps to 25.3%, Farm +30bps to 43.6%, LCV +60bps; trade pre-AGM July 30 on volume growth

  • TCS/Dividend Play(OPPORTUNITY)
    ◆

    ₹31/sh final dividend, record May 25, AGM June 9; steady IT payout undervalued vs growth cyclicals

  • Larsen & Toubro/Order Book↓(OPPORTUNITY)
    ◆

    +28% to ₹740,327cr provides 2.6x revenue visibility, alpha in infra capex ramp post rates

  • Mahindra & Mahindra/PAT Exclusions↓(OPPORTUNITY)
    ◆

    Underlying FY26 PAT +35% excluding prior land gains, margins +80-150bps in Auto/Farm

  • TVS Motor/Earnings Catalyst↓(OPPORTUNITY)
    ◆

    Board meet May 13 for FY26 results; potential auto sector beat like M&M +25% revenue

  • M&M vs L&T/Relative Strength(OPPORTUNITY)
    ◆

    M&M PAT growth +32% outpaces L&T recurring +18%, auto > infra rotation pre-July record date

  • RBI Rate Watch/May 5 Event(OPPORTUNITY)
    ◆

    Monitor for repo stability benefiting capex (L&T orders) and auto financing (M&M MMFSL GS3 3.41%)

Sector Themes(5)

  • Dividend Hikes Across Large Caps(POSITIVE IMPLICATIONS FOR YIELD STRATEGIES)
    ◆

    3/4 key cos (L&T +12%, M&M +30%, TCS steady ₹31) signal confidence in FY26 cashflows, avg +20% payout growth vs flat IT

  • YoY Growth vs QoQ Softness
    ◆

    12/17 filings show avg revenue +20% YoY (L&T +12%, M&M +25%), but Q4 QoQ declines in 4/6 M&M/L&T (Farm -13%, PAT -3%); capex pause? [CAUTION FOR Q1 FY27]

  • Infra/Auto Outperformance(BULLISH CAPEX CYCLE)
    ◆

    L&T order book +28% leads cyclicals, M&M Auto +29% > Farm +20%; rate-sensitive sectors resilient despite RBI event

  • Mixed Sentiment Dominates(WAIT FOR EARNINGS CALLS)
    ◆

    7/17 mixed (L&T all 6 mixed, M&M 2/6), driven by one-offs/provisions offsetting YoY beats; neutral/positive in 10/17

  • Capital Allocation to Shareholders(ATTRACTIVE FOR INCOME PORTFOLIOS)
    ◆

    Dividend focus (no buybacks noted), record dates cluster May-July 2026; prioritizes returns over reinvestment in maturing FY26

Watch List(7)

  • Larsen & Toubro/AGM↓(MONITOR)
    👁

    June 5, 2026 AGM via VC for dividend approval, e-voting cut-off May 29; watch leadership changes (Vijay Sankar appt May 27) impact

  • Larsen & Toubro/Dividend Record↓(MONITOR)
    👁

    May 22, 2026; post-AGM payment by June 10, track ex-dividend price reaction on order book strength

  • Mahindra & Mahindra/AGM↓(MONITOR)
    👁

    July 30, 2026; approve dividend/remuneration, book closure July 4-30; monitor Farm QoQ recovery guidance

  • Mahindra & Mahindra/Dividend Record↓(MONITOR)
    👁

    July 3, 2026; watch PAT attribution (₹17,099cr owners) and segment margins post Q4 weakness

  • TVS Motor/Board Meeting↓(MONITOR)
    👁

    May 13, 2026 for FY26 results; trading window reopens May 15, potential auto peer comparison to M&M +25%

  • Tata Consultancy Services/AGM↓(MONITOR)
    👁

    June 9, 2026; dividend record May 25, payment June 12; assess IT dividend sustainability

  • RBI/Money Market Operations(MONITOR)
    👁

    Post-May 5, 2026 rate change filing; watch for repo/reverse repo/CRR updates impacting infra/auto borrowing costs

Filing Analyses(17)
Larsen & Toubro LimitedBoard Meetingmixedmateriality 9/10

05-05-2026

Larsen & Toubro achieved record group order inflows of ₹435,590 crore (+22% YoY) and consolidated revenues of ₹285,874 crore (+12% YoY) for FY26 ended March 31, 2026, with recurring PAT growing 18% to ₹17,238 crore and order book reaching an all-time high of ₹740,327 crore (+28%). However, total consolidated PAT stood at ₹16,084 crore after a ₹1,155 crore exceptional provision for employee benefits, while Q4 total PAT declined 3% YoY to ₹5,326 crore despite 11% revenue growth to ₹82,762 crore. The board recommended a final dividend of ₹38 per share (up from ₹34), fixed record date as May 22, 2026, and approved key executive appointments and the 81st AGM on June 5, 2026.

  • ·Appointment of Mr. Vijay Sankar as Non-Executive Independent Director w.e.f. May 27, 2026 for 5 years.
  • ·Re-appointment of Mr. Pramit Jhaveri as Non-Executive Independent Director for second 5-year term w.e.f. April 1, 2027.
  • ·Re-appointment of Mr. R. Shankar Raman as President and Whole-time Director - Finance for 2 years w.e.f. October 1, 2026; ceases as CFO June 30, 2026.
  • ·81st AGM on June 5, 2026 at 3:00 p.m. IST via VC/AVM; cut-off date May 29, 2026 for e-voting.
TVS Motor Company LimitedBoard Meetingneutralmateriality 4/10

05-05-2026

TVS Motor Company Limited announced a board meeting scheduled for May 13, 2026, to consider and approve the annual audited financial results (standalone and consolidated) for the year ended March 31, 2026. This intimation complies with Regulation 29(1) and 50(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The trading window for designated persons remains closed from April 1, 2026, to May 15, 2026.

  • ·Scrip codes: 532343 (BSE), TVSMOTOR (NSE), 717506 NCRPS (BSE), TVSMNCRPS (NSE)
  • ·Website: www.tvsmotor.com
  • ·CIN: L35921TN1992PLC022845
Tata Consultancy Services LimitedAgm/Egmneutralmateriality 6/10

05-05-2026

Tata Consultancy Services Limited has scheduled its Annual General Meeting (AGM) for Tuesday, June 9, 2026, to approve the Board-recommended final dividend of ₹31 per equity share of ₹1 each for FY 2025-26 (ended March 31, 2026). The record date for dividend entitlement is Monday, May 25, 2026, with payment scheduled for Friday, June 12, 2026, subject to shareholder approval and tax deduction at source. This follows the Board's recommendation on April 9, 2026.

  • ·Filing reference: TCS/SE/16/2026-27
  • ·Company CIN: L22210MH1995PLC084781
  • ·Dividend payment to beneficial owners based on demat data as of May 25, 2026 close; physical shareholders after valid transmission/transposition by same date
Tata Consultancy Services LimitedCorp. Actionneutralmateriality 6/10

05-05-2026

Tata Consultancy Services Limited (TCS) has scheduled its Annual General Meeting (AGM) for Tuesday, June 9, 2026, following the Board's recommendation on April 9, 2026, of a final dividend of ₹31 per equity share of ₹1 each for FY 2025-26, subject to shareholder approval. The Record Date is fixed as Monday, May 25, 2026, with payment on Friday, June 12, 2026, subject to tax deduction, for shares held in demat or physical form as of the Record Date. No financial performance metrics or comparisons are provided in this intimation.

  • ·Company CIN: L22210MH1995PLC084781
  • ·Equity shares face value: ₹1 each
  • ·Information available on www.tcs.com
Larsen & Toubro LimitedResultmixedmateriality 9/10

05-05-2026

Larsen & Toubro reported robust FY26 performance with record order inflows of ₹435,590 crore (+22% YoY), revenues of ₹285,874 crore (+12% YoY), and recurring PAT of ₹17,238 crore (+18% YoY), alongside an all-time high order book of ₹740,327 crore (+28%). However, total consolidated PAT was ₹16,084 crore impacted by a one-time ₹1,155 crore exceptional provision, and Q4 total PAT declined 3% YoY to ₹5,326 crore despite recurring PAT growth of 5%. The board recommended a final dividend of ₹38 per share (up from ₹34) and approved key leadership appointments.

  • ·81st AGM scheduled for June 5, 2026 at 3:00 p.m. IST via VC/AVM.
  • ·Record date for final dividend: May 22, 2026.
  • ·Cut-off date for e-voting at AGM: May 29, 2026.
  • ·Mr. Vijay Sankar appointed as Independent Director w.e.f. May 27, 2026 for 5 years.
  • ·Mr. Pramit Jhaveri re-appointed as Independent Director w.e.f. April 1, 2027 for 5 years.
  • ·Mr. R. Shankar Raman re-appointed as Whole-time Director - Finance w.e.f. October 1, 2026 for 2 years; ceases as CFO June 30, 2026.
Tata Consultancy Services LimitedCorp Actionpositivemateriality 7/10

05-05-2026

Tata Consultancy Services Limited (TCS) has scheduled its Annual General Meeting (AGM) for Tuesday, June 9, 2026, following the Board's recommendation on April 9, 2026, for a final dividend of ₹31 per equity share of ₹1 each for FY 2025-26. The Record Date for dividend entitlement is fixed as Monday, May 25, 2026, with payment scheduled for Friday, June 12, 2026, subject to shareholder approval and tax deduction. This intimation complies with Regulation 42 of SEBI LODR Regulations.

  • ·Financial Year ended March 31, 2026
  • ·Company CIN: L22210MH1995PLC084781
  • ·Symbol: TCS (NSE), Scrip Code: 532540 (BSE)
Larsen & Toubro LimitedCorp Actionmixedmateriality 10/10

05-05-2026

Larsen & Toubro achieved record order inflows of ₹435,590 crore (+22% YoY) and revenues of ₹285,874 crore (+12% YoY) for FY26 ended March 31, 2026, with recurring PAT of ₹17,238 crore (+18% YoY) and order book at all-time high ₹740,327 crore (+28% over March 2025); however, total consolidated PAT was ₹16,084 crore after a ₹1,155 crore one-time provision, Q4 revenues grew 11% YoY to ₹82,762 crore but total Q4 PAT declined 3% YoY to ₹5,326 crore. The board recommended final dividend of ₹38 per share (up from ₹34 previous year final) and approved AGM on June 5, 2026 along with key executive appointments and re-appointments.

  • ·Final dividend record date: May 22, 2026; payment tentatively by June 10, 2026 post-AGM.
  • ·81st AGM: June 5, 2026 at 3:00 p.m. IST via VC/AVM; e-voting cut-off: May 29, 2026.
  • ·Mr. Vijay Sankar appointment effective May 27, 2026 for 5 years.
  • ·Mr. Pramit Jhaveri re-appointment effective April 1, 2027 for 5 years.
  • ·Mr. R. Shankar Raman re-appointment effective October 1, 2026 for 2 years; ceases CFO June 30, 2026.
  • ·Mr. P. Ramakrishnan CFO appointment effective July 1, 2026.
Larsen & Toubro LimitedAgm/Egmmixedmateriality 10/10

05-05-2026

Larsen & Toubro achieved record group order inflows of ₹435,590 crore (+22% YoY) and revenues of ₹285,874 crore (+12% YoY) for FY26 ended March 31, 2026, with recurring PAT at ₹17,238 crore (+18% YoY) and order book at ₹740,327 crore (+28% YoY). However, total consolidated PAT was ₹16,084 crore impacted by a one-time ₹1,155 crore exceptional provision, and Q4 total PAT declined 3% YoY to ₹5,326 crore despite recurring PAT growth of 5% to ₹5,289 crore. The board recommended a final dividend of ₹38 per share (up from ₹34), announced the 81st AGM on June 5, 2026, and approved key executive appointments.

  • ·81st AGM scheduled for June 5, 2026 at 3:00 p.m. IST via VC/AVM; Record Date for dividend: May 22, 2026; Cut-off for e-voting: May 29, 2026.
  • ·Appointment of Mr. Vijay Sankar as Independent Director w.e.f. May 27, 2026 for 5 years.
  • ·Re-appointment of Mr. Pramit Jhaveri as Independent Director w.e.f. April 1, 2027 for second 5-year term.
  • ·Re-appointment of Mr. R. Shankar Raman as Whole-time Director - Finance w.e.f. October 1, 2026 for 2 years; ceases as CFO June 30, 2026.
  • ·International orders: 58% of FY26 inflows, 67% of Q4 inflows, 52% of order book.
Larsen & Toubro LimitedCorp. Actionmixedmateriality 9/10

05-05-2026

Larsen & Toubro reported record group order inflows of ₹435,590 crore for FY26, up 22% YoY, with revenues at ₹285,874 crore (+12% YoY) and recurring PAT of ₹17,238 crore (+18% YoY); order book hit ₹740,327 crore (+28% over Mar 2025). However, Q4 FY26 total consolidated PAT declined 3% YoY to ₹5,326 crore due to a ₹1,155 crore exceptional provision, despite recurring PAT growth of 5% to ₹5,289 crore. The board recommended a final dividend of ₹38 per share (up from ₹34) and approved key leadership appointments ahead of the 81st AGM on June 5, 2026.

  • ·Record date for dividend: May 22, 2026.
  • ·81st AGM: June 5, 2026 at 3:00 p.m. IST via VC/AVM; cut-off for e-voting: May 29, 2026.
  • ·Mr. Vijay Sankar appointed Non-Executive Independent Director w.e.f. May 27, 2026 for 5 years.
  • ·Mr. Pramit Jhaveri re-appointed Non-Executive Independent Director w.e.f. April 1, 2027 for 5 years.
  • ·Mr. R. Shankar Raman re-appointed President & Whole-time Director-Finance w.e.f. Oct 1, 2026 for 2 years; ceases as CFO June 30, 2026.
  • ·Sanmar Group turnover: approx. US$1.6 billion.
Larsen & Toubro LimitedCompany Updatemixedmateriality 9/10

05-05-2026

Larsen & Toubro achieved record Group order inflows of ₹435,590 crore (+22% YoY) and revenues of ₹285,874 crore (+12% YoY) for FY26 ended March 31, 2026, with order book at an all-time high of ₹740,327 crore (+28% over March 2025). Recurring PAT grew 18% YoY to ₹17,238 crore, but total consolidated PAT was ₹16,084 crore due to a one-time ₹1,155 crore provision; Q4 revenues rose 11% to ₹82,762 crore while total PAT declined 3% YoY to ₹5,326 crore. The Board recommended a final dividend of ₹38 per share (up from ₹34 prior year).

  • ·Final dividend record date: May 22, 2026; payment post-AGM tentatively by June 10, 2026.
  • ·81st AGM on June 5, 2026 at 3:00 p.m. IST via VC/AVM; cut-off date May 29, 2026 for e-voting.
  • ·Appointment of Mr. Vijay Sankar as Independent Director w.e.f. May 27, 2026 for 5 years.
  • ·Re-appointment of Mr. Pramit Jhaveri as Independent Director w.e.f. April 1, 2027 for 5 years.
  • ·Re-appointment of Mr. R. Shankar Raman as President & Whole-time Director - Finance w.e.f. Oct 1, 2026 for 2 years; ceases as CFO June 30, 2026.
UnknownRate Changeneutralmateriality 1/10

05-05-2026

RBI released Money Market Operations as on May 04, 2026, categorized as a Rate Change event in the banking sector, announced on May 05, 2026. The provided filing excerpt contains no specific details on repo/reverse repo/CRR/SLR changes, monetary policy stance, or any numerical data due to truncated table. No positive or negative metrics disclosed.

  • ·Event Type: Rate Change
  • ·Date: May 05, 2026
  • ·Sector: banking
Mahindra & Mahindra LimitedAgm/Egmpositivemateriality 10/10

05-05-2026

Mahindra & Mahindra Ltd's Board approved audited consolidated FY26 financial results, showing strong YoY growth with revenue from operations up 24.6% to ₹1,97,792.78 Cr and PAT up 32.3% to ₹18,621.71 Cr, driven by all segments including Automotive (+29.5%) and Farm Equipment (+20.3%). Recommended final dividend of ₹33 (660%) per share (face value ₹5), up from ₹25.3 (506%) last year. While Q4 FY26 revenue grew 28.9% YoY, Farm Equipment revenue declined 12.9% QoQ to ₹10,022.10 Cr with segment results down 19.0% QoQ.

  • ·80th AGM scheduled for 30th July 2026 at 3:00 p.m. IST via VC/OAVM.
  • ·Record date for dividend: 3rd July 2026.
  • ·Book closure: 4th July to 30th July 2026.
  • ·Group Chief Internal Auditor change: K N Vaidyanathan ceases 30th June 2026; Vimal Agarwal appointed 1st July 2026.
  • ·EPS Basic FY26: ₹153.10 (vs ₹115.91 FY25); Diluted: ₹152.18 (vs ₹115.06).
Mahindra & Mahindra LimitedCorp. Actionpositivemateriality 9/10

05-05-2026

Mahindra & Mahindra Limited approved audited consolidated financial results for FY26, reporting revenue from operations of ₹1,97,792.78 Cr, up 24.6% YoY from ₹1,58,749.75 Cr, and profit after tax of ₹18,621.71 Cr, up 32.3% YoY from ₹14,073.17 Cr, driven by growth across all segments including Automotive (+29.7% YoY to ₹1,17,834.13 Cr). The board recommended a final dividend of ₹33 per equity share (660% on ₹5 face value), up from ₹25.3 last year. However, Farm Equipment segment revenue declined 12.9% QoQ to ₹10,022.10 Cr from ₹11,500.69 Cr in Q3 FY26.

  • ·80th AGM scheduled for 30th July 2026 at 3:00 p.m. IST via VC/OAVM.
  • ·Record date for dividend: 3rd July 2026.
  • ·Register of Members and Share Transfer Books closed from 4th July 2026 to 30th July 2026.
  • ·Seeking shareholder approval for remuneration to Mr. Anand G. Mahindra and material related party transactions.
  • ·Group Chief Internal Auditor change: Mr. K N Vaidyanathan ceases 30th June 2026; Mr. Vimal Agarwal appointed 1st July 2026.
  • ·Basic EPS FY26: ₹153.10 (vs ₹115.91 FY25).
Mahindra & Mahindra LimitedResultmixedmateriality 10/10

05-05-2026

Mahindra & Mahindra's Board approved audited consolidated FY26 financial results with revenue from operations at ₹1,97,792.78 Cr, up 24.6% YoY from ₹1,58,749.75 Cr, and profit after tax attributable to owners at ₹17,098.85 Cr, up 32.2% YoY from ₹12,929.10 Cr; Q4 revenue rose 28.9% YoY to ₹54,891.55 Cr. The Board recommended a final dividend of Rs. 33 (660%) per share of Rs. 5 face value, up from Rs. 25.3 (506%) last year. However, Farm Equipment segment revenue declined 12.9% QoQ to ₹10,022.10 Cr, and Industrial Businesses & Consumer Services segment result fell 37.6% QoQ to ₹458.06 Cr.

  • ·80th AGM scheduled for July 30, 2026 via VC/AVM; book closure July 4-30, 2026; record date for dividend July 3, 2026.
  • ·Seeking shareholder approval for remuneration to Anand G. Mahindra and material related party transactions.
  • ·Basic EPS FY26: Rs. 153.10 (vs Rs. 115.91 FY25); Q4 FY26: Rs. 41.77.
  • ·Statutory auditors issued unmodified opinion on FY26 results.
Mahindra & Mahindra LimitedCorp. Actionpositivemateriality 9/10

05-05-2026

Mahindra & Mahindra Ltd reported robust FY26 audited consolidated financial results with revenue from operations surging 24.6% YoY to ₹1,97,792.78 Cr and profit after tax attributable to owners rising 32.2% to ₹17,098.85 Cr, alongside EPS of ₹153.10 (up 32.2% YoY). The Board recommended a final dividend of ₹33 per share (up 30.4% from ₹25.3 prior year), while Q4 FY26 revenue grew 28.9% YoY but Farm Equipment revenue declined 12.9% QoQ and Industrial Businesses segment results fell 37.6% QoQ. All segments showed strong FY YoY growth led by Automotive (+29.5%).

  • ·80th AGM scheduled for July 30, 2026 at 3:00 p.m. IST via Video Conferencing/Other Audio Visual Means
  • ·Record Date for final dividend: July 3, 2026
  • ·Register of Members and Share Transfer Books closed from July 4, 2026 to July 30, 2026
  • ·Statutory Auditors issued unmodified opinion on audited standalone and consolidated financial results
  • ·Seeking shareholder approval for remuneration to Mr. Anand G. Mahindra and material related party transactions at AGM
  • ·Group Chief Internal Auditor change: Mr. K N Vaidyanathan ceases June 30, 2026; Mr. Vimal Agarwal appointed July 1, 2026
Mahindra & Mahindra LimitedBoard Meetingmixedmateriality 10/10

05-05-2026

Mahindra & Mahindra's Board approved audited consolidated FY26 financial results with revenue from operations surging 24.6% YoY to ₹1,97,792.78 Cr and PAT rising 32.3% YoY to ₹18,621.71 Cr, driven by strong Automotive segment growth of 29.7% YoY. The Board recommended a higher final dividend of ₹33 (660%) per share (face value ₹5), up from ₹25.3 (506%) last year. However, Q4 saw QoQ declines including Farm Equipment revenue down 12.9% to ₹10,022.10 Cr and segment results down 19% to ₹1,015.52 Cr, while Industrial Businesses profit fell 37.6% QoQ to ₹458.06 Cr.

  • ·80th AGM scheduled for Thursday, 30th July 2026 at 3:00 p.m. IST via VC/AVM.
  • ·Record date for dividend: Friday, 3rd July 2026.
  • ·Book closure: Saturday, 4th July 2026 to Thursday, 30th July 2026.
  • ·Statutory auditors issued unmodified opinion on FY26 results.
  • ·Seeking shareholder approval for remuneration to Anand G. Mahindra and material related party transactions.
Mahindra & Mahindra LimitedCompany Updatemixedmateriality 9/10

05-05-2026

Mahindra & Mahindra Ltd reported strong Q4 FY26 consolidated revenue growth of 29% to ₹54,982 Cr and PAT up 42% to ₹4,668 Cr, with FY26 revenue up 25% to ₹1,98,639 Cr and PAT up 35%* to ₹17,099 Cr (excluding ₹304 Cr F25 land sale gains; reported +32%). Auto and Farm segments drove performance with PAT growth of 33% and 13% respectively, volume increases of 19% and 24%, and margin expansions of 80 bps and 150 bps, alongside MMFSL PAT up 60%^ (GS3 at 3.41%, down 27 bps) and Growth Gems up 50%. However, Farm growth was offset by international performance, TechM showed modest 14% PAT growth despite margin expansion, and exclusions highlight underlying adjustments.

  • ·Auto SUV revenue market share 25.3% (+260 bps FY26 VPY)
  • ·Farm machinery market share 43.6% (+30 bps FY26 VPY)
  • ·LCV (<3.5T) market share 52.3% (+60 bps FY26 VPY, Bolero Max Pickup 2T classified under LCV 2-3.5T)
  • ·EV penetration 9.6% FY26
  • ·RoE steady at 20% FY26
  • ·Supply chain: INR 100,000 Cr+ purchases, 100,000+ parts, 40+ commodities
  • ·AI expected FY27 outcomes: ₹4100 Cr revenue share, 2-3 pp reduction in time to outcomes, 10% market for NPD uptick in CSAT, ₹10,000 Cr disbursements via agentic acquisitions

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BSE Realty Real Estate Sector Regulatory Filings — April 28, 2026

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