M&M maintains a dominant position in the below-3.5T segment, where its market share improved by 290bp to 51.9% in FY25.

(Photo source: Mahindra Group website) M&M has identified nine businesses as its growth gems and has set an ambitious target of achieving five times growth in five-seven years for each of these segments. Any incremental value unlocked in any or all of the growth gems in the coming years is likely to provide additional returns for M&M shareholders.

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