Company Results

Mahindra & Mahindra reported strong vehicle sales for February, highlighting continued momentum in India’s fast-growing utility vehicle segment. Demand for popular models such as the Mahindra Scorpio-N, Mahindra Thar, and Mahindra XUV700 remained robust, supported by healthy rural consumption and improving supply chains. The company also recorded stable performance in its commercial vehicle segment and maintained steady export volumes.

Non-banking financial company Aye Finance has reported a sharp rise in profitability for the third quarter, with net profit increasing by 87 percent to Rs. 43 crore. The robust performance was driven primarily by strong loan disbursements to micro and small enterprises, improved asset quality, and expanding credit demand from underserved segments of the economy. The results underscore the growing importance of specialized lenders focused on financing small businesses that often lack access to traditional banking channels.

Proptech platform Square Yards reported a robust 47 percent year-on-year increase in revenue for the third quarter, reaching Rs. 526 crore, reflecting sustained momentum in India’s residential real estate market. The performance underscores growing demand for integrated property advisory and transaction services, particularly in high-growth urban corridors. The company attributed the expansion to stronger homebuyer sentiment, digital lead conversion, and cross-border investment flows.

Bajaj Auto reported a 27 percent year-on-year increase in total vehicle sales for February, reflecting resilient demand in both domestic and international markets. The strong performance underscores sustained momentum in the two-wheeler and commercial vehicle segments, supported by improving rural consumption and stable export recovery. The company’s diversified product portfolio and expanding global footprint contributed to volume growth despite competitive pressures and macroeconomic uncertainties.

VE Commercial Vehicles (VECV) reported a 23.4% year-on-year increase in total sales in February 2026, signaling sustained strength in India’s commercial vehicle sector. The growth was supported by higher demand for medium and heavy-duty trucks, alongside stable momentum in light commercial vehicles. Industry analysts attribute the expansion to accelerating infrastructure spending, improved freight movement and a steady replacement cycle among fleet operators.

Ashok Leyland reported a 24% year-on-year increase in total sales for February, reflecting resilient demand in India’s commercial vehicle segment. The growth was driven by steady momentum in medium and heavy commercial vehicles, alongside stable performance in light commercial vehicles. Analysts attribute the rise to sustained infrastructure activity, improved freight movement and replacement demand across fleet operators. The February data underscores improving business confidence and economic activity, particularly in logistics and construction sectors.

Arohan Financial Services reported a sharp rise in third-quarter profit, reflecting improved asset quality, disciplined cost management and steady expansion in its lending portfolio. The microfinance-focused non-banking financial company benefited from resilient rural demand and enhanced operational efficiencies during the quarter. Analysts attribute the earnings acceleration to stronger collections, calibrated credit disbursement and improved risk underwriting standards.

Hyundai Motor India posted a 12.6% year-on-year increase in total vehicle sales in February, reflecting sustained consumer demand and improved supply chain stability. The automaker’s performance was driven by strong domestic bookings and steady export volumes, underscoring the continued appeal of its sport utility vehicle (SUV) portfolio and compact models. The February numbers indicate resilience in India’s passenger vehicle market despite inflationary pressures and cautious urban spending.

Honda Cars India recorded a 30% year-on-year decline in sales in February, reflecting softer domestic demand and intensifying competition in the passenger vehicle segment. The downturn comes amid evolving consumer preferences favoring SUVs and feature-rich utility vehicles, areas where competitive pressure remains high. Industry analysts attribute the decline to portfolio transition cycles, fluctuating export volumes and broader market recalibration.

Hero MotoCorp posted a robust 44% year-on-year increase in sales for February, reflecting a sharp rebound in both rural and urban markets. The country’s largest two-wheeler manufacturer benefited from improved supply chain stability, healthy dealer inventories and sustained demand for commuter motorcycles and scooters. Industry analysts view the performance as a sign of strengthening consumer sentiment and seasonal momentum ahead of the upcoming festive cycle.