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Mahindra & Mahindra Financial Services
Mahindra & Mahindra Financial Services (M&MFIN) investor relations material
Mahindra & Mahindra Financial Services Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 25/26 earnings summary28 Jan, 2026
Executive summary
Completed business transformation project with 95% digital onboarding, 100% collections, and visible step-up in profitability and asset quality stabilization, with GS3 ratio below 4% for eight consecutive quarters.
PAT up 76% year-over-year for nine months, with Q3 ROA at 2.5% and nine-month ROA at 1.9%.
Unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, were approved by the Board on January 28, 2026, with a clean review report from joint statutory auditors.
The group includes subsidiaries in insurance broking, rural housing finance, and joint ventures in asset management and trusteeship.
Pivoting to growth, supported by investments in products, channels, systems, and a strong capital base.
Financial highlights
Q3FY26 standalone PAT at ₹907 crore, up 1% YoY (excluding labor code impact), and 59% QoQ; 9MFY26 PAT up 76% YoY (adjusted).
Standalone revenue from operations for Q3 FY26 was ₹4,753.69 crore, up from ₹4,143.00 crore in Q3 FY25; nine-month revenue was ₹13,645.63 crore.
NIM for nine months expanded to 7.1% from 6.6% last year; Q3 NIM at 7.5% (includes one-time items).
Fee and other income rose to 1.4% of assets for nine months, up from 1.1% last year.
Disbursements for Q3FY26 at ₹17,612 crore, up 7% YoY; 9MFY26 disbursements at ₹43,934 crore, up 4% YoY.
Outlook and guidance
Confident in maintaining credit cost within 1.5%-1.7% range, with GS2 and GS3 stocks expected to remain range-bound.
Targeting mid- to high-teens CAGR loan book growth over the medium term, with diversification into mortgages and SME.
Aims to reduce Wheels business share from 88% to 70% by FY2030, increasing contribution from other asset categories.
ROA target remains at 2%, with a long-term goal of 15% ROE.
Focus on defending and growing leadership in vehicle finance, expanding SME, leasing, and fee income, and sustaining risk levels.
New Labour Codes: Recurring cost impact?
ECL model calibration: Key changes & impact?
Subsidiary's large stressed loan transfer rationale?
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Latest summaries
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- 6 FebJ
Strong growth, digital innovation, and margin expansion drive robust multi-year financial outlook. - 6 Feb004020
Operating profit rose on cost savings and high-value sales, with major US expansion underway. - 6 FebJOUT
Net sales up 31%, gross margin at 36.6%, and net loss narrowed to $3.3 million. - 6 FebPECO
Record 2025 occupancy and 7% Core FFO growth; 2026 targets 5.5% FFO growth and strong acquisitions. - 6 FebPROV
Q2 FY2026 net income rose 65% year-over-year, with higher margins and strong credit quality. - 6 FebNVDA
AI-driven digital twins and accelerated computing are set to revolutionize industrial design and manufacturing. - 6 FebCDP
2025 FFO/share rose 5.8% to $2.72, with strong leasing and investment; 2026 guidance signals more growth. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRINet loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high.
- 6 FebCRINet loss deepened on lower sales and higher costs, but major new contracts and restructuring are underway.
Next Mahindra & Mahindra Financial Services earnings date
Q4 25/2621 Apr, 2026
Mahindra & Mahindra Financial Services
Next Mahindra & Mahindra Financial Services earnings date
Q4 25/2621 Apr, 2026
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Frequently asked questions
Mahindra & Mahindra Financial Services Limited is an India-based non-banking financial company (NBFC) that provides financial products and services primarily in rural and semi-urban areas. The company offers loans for utility vehicles, tractors, commercial vehicles, and two-wheelers, along with personal loans, SME financing, insurance broking, and mutual fund distribution. It serves individual and enterprise customers through an extensive network across India. The company is part of the Mahindra Group. Mahindra & Mahindra Financial Services Limited is headquartered in Mumbai, India, and its shares are listed on the NSE.
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