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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Defence Minister Rajnath Singh inaugurated the Shaurya Vijay Yatra 2026 at the National War Memorial in New Delhi, marking the commencement of nationwide observances for Kargil Vijay Diwas. The 13-day expedition, organised by Jawa Yezdi Motorcycles, features 28 riders traversing a 1,900-kilometre route to the Kargil War Memorial in Dras, Ladakh. The group comprises serving and retired defence personnel alongside their families, united under the rallying cry of ‘One Ride, One Nation, One Salute’ to honour the bravery and ultimate sacrifices of the 1999 Kargil War heroes.

The motorcycle contingent is scheduled to pass through significant military landmarks including Chandimandir, Rezang La and the Leh War Memorials before its scheduled arrival on 26 July. A central element of the journey involves transporting an urn filled with sacred soil from the National War Memorial to Kargil, symbolising the enduring valour of India's warriors across generations. The riders will also pay personal tributes to Veer Naris, acknowledging the resilience of the war widows.

Senior military leadership, including Chief of Defence Staff General N S Raja Subramani and Army Chief General Dhiraj Seth, joined the Defence Minister at the ceremonial start, alongside veterans and senior officials. The presence of the National Cadet Corps underscored the event's focus on inspiring youth to remember the nation's gallant soldiers and embrace the core principles of duty and selfless service.

During his address, the Defence Minister commemorated the soldiers whose courage upheld the nation's honour, framing the Kargil victory as a testament to India's steadfast sovereignty. He specifically recalled the contributions of Param Vir Chakra recipients Captain Vikram Batra, Lieutenant Manoj Kumar Pandey and Subedar Majors Yogendra Singh Yadav and Sanjay Kumar. Initiated in 2021, this tribute ride has evolved into a cherished tradition, with each kilometre travelled serving as a poignant reminder that the nation's freedom is preserved by those who place their country above all else.

Anupam Thareja, Co-Founder, Classic Legends, said, "Shaurya Vijay Yatra is our way of remembering the heroes of Kargil and their families. We started this tribute with the belief that remembering their sacrifices and being grateful is a shared responsibility. Through this journey, we remain committed to keeping their memories alive for future generations. Alongside the Indian Army, we are honoured to undertake this tribute and pay homage to our bravehearts."

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Tata Motors, one of the leading automotive manufacturers, has shared an update on its Kaushalya Programme, an industry-led training initiative ahead of World Youth Skills Day.

The programme has enrolled more than 23,000 participants and achieved a 100 percent placement rate for over 5,000 graduates, including more than 50 international placements.

The initiative, launched in 2021, operates across manufacturing facilities in Pune, Jamshedpur, Lucknow, Pantnagar, Sanand and Dharwad. It provides a sponsored Diploma in Mechatronics through an earn-and-learn model. Participants receive training in areas such as automobile engineering, manufacturing technology, automation, IoT and Industry 4.0. Women account for 21 percent of the participants, with 25 percent of trainees from affirmative action categories.

Sitaram Kandi, Chief Human Resources Officer, Tata Motors, said, “India's manufacturing competitiveness and mobility ambitions will be shaped by the quality of its workforce. Through Kaushalya, we are investing in the next generation of skilled professionals by creating opportunities that combine technical education, industry exposure and real-world experience. The programme is helping young people build meaningful careers while strengthening the talent pipeline required for an increasingly advanced and technology-driven automotive industry. The strong placement outcomes achieved by our trainees demonstrate the effectiveness of industry-academia collaboration in creating skills that are relevant, employable and future-ready. We remain committed to expanding the programme's reach and empowering more young people to participate in India's growth story.”

Programme graduates have secured positions across the Tata ecosystem and at other companies, such as Tata Steel Downstream Products, Tata Advanced Systems, Zydus, JSW Greentech, Subros, Spinny and Wipro. About 50 graduates have also been placed at a Jaguar Land Rover facility in Nitra, Slovakia.

Anita Kende Bethekar, a programme trainee currently placed with Jaguar Land Rover, said, “Coming from a remote tribal village in Maharashtra, a global career in the automotive industry once felt beyond reach. Tata Motors’ Kaushalya programme equipped me with the skills, exposure and confidence to pursue opportunities I had never imagined. Today, I am proud to be the first girl from my village and neighbouring region to hold a passport and build a career with Jaguar Land Rover in Slovakia. This achievement is not just mine; it is a source of pride for my family, my community and every young girl who dares to dream beyond her circumstances.”

Soham Ravindra Manmode, a trainee placed with Tata Motors Customer Support, said, “Coming from a financially challenged family in a small town, building a career in the automotive industry once felt like a distant dream. Tata Motors’ Kaushalya Programme changed that by enabling me to learn, earn and gain real-world industry experience simultaneously. The skills, confidence and exposure I acquired through the programme helped me build a rewarding career with Tata Motors. Today, I take pride in supporting my family and contributing to India's automotive growth story.”

Tata Motors intends for the programme to produce more than 5,000 industry-ready trainees each year to support the manufacturing and automotive sectors.

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The Indian automotive sector recorded 20 deals worth USD 717 million in Q2 2026 according to the latest findings by Grant Thornton Bharat's Automotive Dealtracker.

While transaction volumes reached their lowest level since Q2 2023, deal values saw a marginal decline of 4 percent quarter-on-quarter. Excluding public market activity, the sector saw 18 Mergers & Acquisitions (M&As) and Private Equity / Venture Capital (PE/VC) transactions valued at USD 479 million.

M&A activity comprised five deals worth USD 138 million, with KPIT Technologies' USD 120 million acquisition of Cymotive Technologies representing the period's focus on software and cybersecurity. PE/VC activity included 13 deals worth USD 341 million, led by Rapido’s USD 240 million fundraise and JBM Ecolife Mobility’s USD 47 million investment.

Saket Mehra, Partner and Auto & EV Industry Leader, Grant Thornton Bharat, said, "While deal activity slowed during the quarter, investment remained focused on businesses driving the future of mobility. We are seeing continued interest in EVs, mobility platforms and automotive technologies, with investors becoming more selective and backing companies that have demonstrated scale, differentiated capabilities and a clear growth path. As the sector evolves, technology-led investments are expected to continue shaping deal activity."

The key findings from the report include: Mobility-as-a-Service accounted for USD 298 million of the total sector deal value. Electric vehicles represented 54 percent of PE transactions. Auto tech made up 87 percent of M&A value. The five largest PE deals represented 96 percent of the total PE value.

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Vijaybhoomi University and the Nettur Technical Training Foundation (NTTF) have introduced a training programme that allows employees at Tata Motors to earn university-recognised diplomas while working.

The initiative, marked by a convocation at Tata Motors’ Pimpri-Chinchwad plant, aligns with the National Education Policy 2020 by integrating vocational skills with higher education frameworks.

Under this partnership, NTTF Mechatronics programme graduates receive a Technical Diploma aligned with the National Higher Education Qualification Framework. Learners may subsequently progress to an Advanced Technical Diploma and a B.Tech in Mechatronics without leaving their jobs.

Sanjay Padode, President, Vijaybhoomi University, said, "A university should recognise learning wherever it genuinely happens. Many of these learners have developed advanced technical capability on the shopfloor through structured training and disciplined practice. Our role is to connect that learning with nationally recognised higher education so that they can continue to grow academically without stepping away from their careers."

Ravi Tennety, Managing Director, NTTF, said, "For more than 60-years, NTTF has prepared young people for careers in manufacturing and technology. This partnership gives our learners an opportunity to build on that foundation through formal higher education while continuing to contribute to industry. It creates new possibilities for lifelong learning."

Prof Ravikesh Srivastava, Vice Chancellor, Vijaybhoomi University, said, "India has spoken for many years about integrating skills, industry and higher education. What we are seeing today is one working model of how that integration can happen in practice. It is built on academic quality, industry relevance and learner mobility."

Sitaram Kandi, Chief Human Resources Officer, Tata Motors, said, "Manufacturing is changing rapidly, and so must the way we develop our people. Technical skills acquired on the shopfloor deserve opportunities for continuous academic progression, without requiring employees to step away from work. This collaboration between Tata Motors, NTTF and Vijaybhoomi University creates a pathway where learning, work and career advancement reinforce one another. It recognises that capability is built not only in classrooms but also through disciplined practice, problem-solving and real production environments. By enabling our employees and apprentices to earn nationally recognised university qualifications while continuing to contribute on the shopfloor, we are investing not only in individual growth but also in building a future-ready manufacturing workforce for India."

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