Brands
Mahindra & Mahindra Q3 profit jumps 47 per cent
Revenue rises 26 per cent as autos, farm and services perform
MUMBAI: Mahindra & Mahindra Limited reported a sharp rise in third-quarter earnings, driven by strong performance in its automotive, farm and services businesses.
Consolidated net profit rose 47 per cent year on year to Rs 4,675 crore in the quarter ended December 31, 2025, while revenue from operations increased 26 per cent to Rs 52,100 crore, the company said in a stock exchange filing. Excluding the impact of labour code regulation changes, profit after tax rose 54 per cent on year. Consolidated Pat margin improved to 9 per cent from 7.7 per cent a year earlier.
For the nine months ended December, consolidated Pat stood at Rs 12,431 crore, compared with Rs 9,634 crore in the corresponding period last year.
Shares of Mahindra & Mahindra were trading at Rs 3,697.50, up 0.59 per cent on the day, after paring earlier intraday gains of nearly 3 per cent following the results announcement.
The automotive segment posted consolidated revenue of Rs 30,370 crore in Q3 FY26, up 30 per cent year on year, with Pat rising 42 per cent to Rs 1,993 crore. Quarterly volumes climbed 23 per cent to 3.02 lakh vehicles, including 1.79 lakh utility vehicles. The company retained leadership in SUVs with a revenue market share of 24.1 per cent, up 90 basis points, while light commercial vehicle market share rose to 51.9 per cent.
The farm equipment business reported revenue of Rs 11,501 crore, up 21 per cent, while Pat rose 7 per cent to Rs 1,044 crore. Tractor volumes increased 23 per cent to 1.50 lakh units, though market share eased 20 basis points to 44.0 per cent.
The services segment continued to gain traction, delivering revenue of Rs 11,636 crore, up 21 per cent, with Pat doubling to Rs 1,637 crore. Mahindra Finance reported a 97 per cent rise in Pat, with gross stage-3 assets below 4 per cent. Tech Mahindra’s Ebit margin improved to 13.1 per cent, up 290 basis points. Mahindra Logistics returned to profitability after 11 quarters, while Mahindra Lifespaces posted a five-fold increase in profit.
Group return on equity stood at 20.1 per cent on an annualised basis.
Group CEO and managing director Anish Shah said the company delivered solid operating performance across the group in the December quarter, while group CFO Amarjyoti Barua pointed to the growing contribution from services businesses.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
