# Mahindra & Mahindra Ltd (M&M) delivered a strong performance in the fourth quarter of FY26.

*business · news · 2026-05-06 · Business Today*

## Key points

- M&M's Q4 FY26 revenue reached Rs 39,550 crore, surpassing analyst estimates by over Rs 1,400 crore.
- Analysts raised FY27/28 EPS estimates for M&M by 3% citing higher automotive volumes.
- M&M plans to launch 10 new ICE models and six EVs by 2031, expanding its pipeline.
- Projected auto revenue CAGR for M&M is 15% over FY26–28E, while farm revenue growth slows to 5%.
- Target price for M&M was increased from Rs 3,600 to Rs 3,800 based on higher FY28E EPS and investments.

**Companies:** Mahindra & Mahindra Ltd
**Countries:** India

[Read the full story on Business Today](https://www.businesstoday.in/markets/stocks/story/mm-share-price-target-post-robust-q4-upcoming-suv-ev-models-in-focus-529994-2026-05-06)

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