Mahindra & Mahindra (M&M Ltd) has reported a strong operating performance across businesses in Q3 of FY25 with a consolidated PAT of INR 31.81 billion, up 20 percent. Auto and Farm Divisions continue to deliver growth and margins. Profits have been up 16 percent. The Financial services AUM grew at 19 percent and TechMahindra achieved good traction in deal wins, seeing its EBIT improve 480 bps.
Claiming to be Number one in SUVs with revenue market share at 23 percent, up 200 bps, Mahindra & Mahindra reported that SUV volumes in Q3 FY25 rose 20 percent. The company reported that it has retained its number one position in LCVs below 3.5 tonne GVW with a market share of 51.9 percent, up 230 bps. The company also reported that it has retained its number one position in tractors with the market share of 44.2 percent, up 240 bps. 
While the market share of the group in electric vehicles is at 41.8 percent, the market share of MMFSL AUM has increased by 19 percent. TechMahindra EBIT has rose 480 bps with continued focus on margin expansion. The consolidated revenue was reported at INR 414.7 billion, up 17 percent. Consolidated PAT was reported at INR 31.81 billion, up 20 percent. Year-To-Date FY25 RoE was reported at 18.4 percent and EPS at 86.0.
Speaking about the development, Dr Anish Shah, Managing Director and CEO, M&M Ltd. said, “Our businesses continue to demonstrate strength in execution. Auto and Farm delivered solid performance on market share and margins, on the back of focused execution. The transformation at TechMahindra is gathering momentum. MMFSL continues to balance asset quality and growth priorities, with GS under four percent on the back of strong AUM growth. Our Growth Gems are demonstrating steady progress towards their long-term objectives.”
Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector), M&M Ltd, averred, “The launch of our flagship electric origin SUVs, the BE 6 and XEV 9e set a new benchmark in global innovation. Thar ROXX won the Indian Car of the Year (ICOTY) as well as Autocar car of the year. In Q3 F25, we were Number one in SUV revenue market share with 200 bps YoY increase. LCV less than 3.5-tonne volume market share is at 51.9 percent, a gain of 230 bps. The Auto segment PBIT is up by 120 bps YoY. We achieved highest ever Q3 tractor market share at 44.2 percent, a gain of 240 bps YoY, and farm PBIT is up by 260 bps YoY.”
 
 

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Following the inauguration of the Kharkhoda vehicle manufacturing facility, Toshihiro Suzuki, President of Suzuki Motor Corporation, and Hisashi Takeuchi, Managing Director and CEO of Maruti Suzuki India, visited the Japan-India Institute for Manufacturing (JIM) in Manesar and the Institute of Driving and Traffic Research (IDTR) in Bahadurgarh.

At the JIM in Manesar, the leadership team observed the training programmes that focus on technical expertise, manufacturing practices, and safety. Later, they visited the IDTR in Bahadurgarh to review the driving training provided at the facility.

Toshihiro Suzuki, said, “It was the greatest possible honour for Suzuki in India when both the Hon’ble Prime Ministers of India and Japan inaugurated our Kharkhoda plant yesterday. This places even more responsibility on us to recommit and rededicate ourselves to Viksit Bharat. The foundation of this is human development. I immediately decided to visit today our institutes for road safety – IDTR in Bahadurgarh – and for skill development – JIM in Manesar.”

At present, Maruti Suzuki India manages four JIM locations in Mehsana, Gandhinagar, Manesar, and Sonipat. These institutes provide vocational training accredited by the National Council for Vocational Training and the Ministry of Economy, Trade and Industry, Japan. The training follows a system that combines classroom instruction with industry exposure.

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European automotive Group Stellantis recently hosted 300 suppliers in Paris to discuss its faSTLAne 2030 strategy. The convention included supplier partners, regional leadership and global purchasing executives, focusing on collaboration and execution for the European market.

The event outlined the company’s vision for growth and product renewal. Leaders stressed that achieving these goals requires accountability across the value chain.

Emanuele Cappellano, COO for Enlarged Europe & European Brands and Head of Stellantis Pro One, said, "Europe is entering a pivotal period as we execute our long-term strategy and bring an exciting wave of products and technologies to market. Success depends on our ability to execute together. Our suppliers are essential partners in that journey, helping us deliver the quality, innovation, and competitiveness our customers expect. By working as one team, we can strengthen our performance and position Stellantis for long-term success in Europe."

A recurring theme was the necessity of collaboration and communication between Stellantis and its supply base to support product launches and operations.

Monica Genovese, Chief Purchasing Officer, Stellantis, said, "Creating value starts with strong partnerships. Our suppliers are critical contributors to every vehicle, every launch, and every customer experience. We are committed to being a Customer of Choice by strengthening engagement, listening to feedback, and working together to solve challenges. The path to achieving our objectives is built on trust, accountability, and a shared commitment to execution."

Quality was identified as a core component of the business strategy, with leaders noting that suppliers influence the customer experience from production to long-term reliability.

Stephane Dubs, Senior Vice-President, Purchasing, Enlarged Europe, Stellantis, said, "Quality is a shared commitment across our entire ecosystem; it is not the responsibility of only one team or one organisation. Every decision we make impacts the customer experience. Together with our suppliers, we must continue to raise the bar on cost competitiveness, quality, responsiveness and execution to strengthen customer loyalty and ensure the success of our brands."

The convention offered suppliers direct access to the company’s purchasing teams to align on future priorities.

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Cars24, one of the leading vehicle buying and selling marketplaces, has removed its traditional levels, grades and job titles, replacing them with a structure called ‘Flatland’. Under this model, all employees share the title of ‘Builder’, shifting the focus from organisational rank to the problems they own and the outcomes they produce.

The company stated that this change is a response to the impact of AI on organisational structure. By removing hierarchy, Cars24 aims to improve decision-making and coordination.

Vikram Chopra, Builder at Cars24, said, “Hierarchy was one of humanity's greatest inventions. It helped organisations scale when information was scarce. AI fundamentally changes that equation. Today, intelligence and context are increasingly available to everyone. The role of an organisation is no longer to move decisions up and down layers. It's to help exceptional people solve exceptional problems together. Flatland is our attempt to build an organisation for that reality.”

Under Flatland, leadership is defined by execution and customer impact rather than position. Policies regarding benefits and assets are no longer linked to rank but to role requirements and universal benefits.

The company reports that it has tested this model over the past 18 months, resulting in a 50 percent YoY increase in revenue per employee in the second half of FY2026 and a contribution of nearly 300 basis points to EBITDA. Cars24 currently operates in India, the UAE and Australia, and reports reaching global profitability this year.

“We don't believe removing titles automatically creates a great culture. Culture comes from behaviour. Flatland simply removes the shortcuts that let people mistake position for contribution. We want the person closest to the problem to feel empowered to solve it regardless of where they joined or how long they've been here,” concluded Chopra.

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Germany-headquartered world’s largest chemical producer BASF has completed the transaction with Carlyle involving its coatings business, which now operates as Surventis.

The deal, which reached an enterprise value of EUR 7.7 billion, concluded on 30 June 2026 following regulatory approval with BASF receiving pre-tax cash proceeds of approximately EUR 5.8 billion.

Under the terms of the agreement, BASF retains a 40 percent equity stake in Surventis, which includes the automotive OEM coatings, automotive refinish coatings and surface treatment operations. This transaction, combined with the divestiture of the decorative paints business in 2025, values the former Coatings division at EUR 8.7 billion.

Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE, said, “This successful closing marks a key milestone in the execution of our Winning Ways strategy aimed at unlocking the value of our standalone businesses. By holding a 40 percent equity stake, we will continue to participate in the future value creation of the coatings business while sharpening BASF’s strategic focus.”

Anup Kothari, Member of the Board of Executive Directors, BASF SE, added, “We are convinced that the new ownership structure provides an excellent foundation for future profitable growth of Surventis. We wish the former BASF Coatings employees every success as they move forward into their future as an independent company.”

BASF has accounted for the coatings business as discontinued operations since September 2025. From July 2026, the 40 percent stake in Surventis will be treated as a financial investment accounted for using the equity method.

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