- Anish Shah sold 76,357 Mahindra & Mahindra shares to fund ESOP tax payments
- Shah has led Mahindra & Mahindra as CEO and MD since April 2020
- Q1 net profit rose 6.8% YoY to Rs 3,685 crore, beating estimates
Mahindra & Mahindra (M&M) Group CEO and Managing Director Anish Shah has sold 76,357 equity shares of the company, according to an exchange filing.
The company said the majority of the proceeds from the sale will be used by Shah to fund the tax payable upon the exercise of employee stock options (ESOPs) that have vested or will vest during the financial year 2026-27.
Shah has been the Group CEO and Managing Director of Mahindra & Mahindra since April 2020. Under his leadership, the group has continued to operate across its automotive, farm equipment, financial services, technology and other businesses.
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Mahindra & Mahindra Q1 Highlights
Mahindra & Mahindra (M&M) reported a mixed set of earnings for the June quarter, with net profit and revenue beating Street estimates, while operating performance came in below expectations. The company's standalone net profit rose 6.8% year-on-year (YoY) to Rs 3,685 crore in the June quarter of FY27, ahead of the Bloomberg consensus estimate of Rs 3,569 crore. The company had reported a profit of Rs 3,450 crore in the corresponding period last year.
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Topline, also known as revenue, increased 23% YoY to Rs 41,920 crore, marginally exceeding the Street estimate of Rs 41,845 crore. Revenue stood at Rs 34,083 crore in the year-ago quarter.
The company's operating performance, however, fell short of expectations. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 7.9% YoY to Rs 5,111 crore, missing the consensus estimate of Rs 5,353 crore. EBITDA margin contracted to 12.2% from 13.9% a year earlier and was below the estimated 12.8%.
Mahindra & Mahindra Share Price Today
The transaction comes as Mahindra & Mahindra shares have remained under pressure over the past month. The stock closed 0.35% lower at Rs 3,044.5 per share on Tuesday. Mahindra & Mahindra shares have gained 0.5% over the past week but have declined 10.78% in the last one month. The stock is down 19.05% so far this year and has fallen 15.07% over the past one year.
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