M&M's Big Growth Plan: 27% Capacity Expansion, EV Push & Aerospace Ambitions | Anish Shah | ET Now
ET Now · 06 Nov 2026 · 15 min
Management interview of Mahindra & Mahindra Ltd (M&M), with 9 key numbers discussed.
- Dr. Anish Shah, MD & CEO, Mahindra & Mahindra
Mahindra & Mahindra is expanding auto capacity by 27% this fiscal year to meet robust demand growing at 20-25% year-over-year. The farm equipment sector is expected to remain flat in FY27 following a high base, with a significant recovery anticipated in FY28. While commodity inflation caused margin pressure in Q2 and could spill into Q3, management expects normalization by Q4 or Q1 FY28. The company is also scaling its aerospace business, targeting USD 1bn in annual orders by 2030.