Mahindra & Mahindra Shares Rise After Record 35,000-Unit Export Order

Mahindra & Mahindra shares rose on Wednesday after the automaker secured its largest-ever export order for 35,000 Scorpio Pik-Up vehicles to Indonesia, providing support to the stock amid a volatile broader market.

Mahindra & Mahindra Shares Rise on Record Export Order

Mahindra & Mahindra Ltd. emerged as one of the notable gainers on the Nifty 50 on Wednesday, February 4, helping limit broader market losses amid a sharp sell-off in IT stocks. The stock moved higher after the automaker announced its largest-ever export order, reinforcing investor confidence in its global growth strategy.

35,000 Scorpio Pik-Up Vehicles to Be Supplied to Indonesia

The company confirmed that it has secured an order to supply 35,000 units of Scorpio Pik-Up light commercial vehicles to Indonesia’s state-owned enterprise Agrinas Pangan Nusantara in 2026. Mahindra said the size of this order exceeds its total export volumes for FY25, underlining its significance for the company’s overseas operations.

This milestone deal represents one of Mahindra & Mahindra’s most important international commercial vehicle contracts to date.

Vehicles to Support Indonesia’s Food Security Programme

Deployment Under KDKMP Initiative

The Scorpio Pik-Up vehicles will be deployed under Indonesia’s Koperasi Desa/Kelurahan Merah Putih (KDKMP) programme, which aims to strengthen rural infrastructure and logistics. The initiative is part of the country’s broader national food security strategy, focusing on improving farm-to-market connectivity.

Focus on Rural and Intra-Village Logistics

Manufactured at Mahindra’s Nashik plant, the vehicles will be used for first-mile aggregation and intra-village logistics across cooperatives. This deployment reinforces Mahindra’s positioning as a supplier of durable, utility-focused vehicles tailored for emerging markets.

January Auto Sales Show Strong Growth

For January, Mahindra & Mahindra reported total auto sales of 1,04,309 vehicles, marking a 24% year-on-year increase, including exports.

Domestic Sales Performance

• Domestic utility vehicle sales rose 25% to 63,510 units

• Domestic commercial vehicle sales increased 22% to 27,656 units

Export Performance

Exports for the month grew 5% to 3,577 units, compared with 3,404 units in the same period last year. The total sales figure includes SUVs, LCVs (under 3.5 tonnes), three-wheelers, and exports.

Stock Performance and Market Reaction

Shares of Mahindra & Mahindra climbed as much as 2.6% following the announcement of the export order. The stock later settled 1.5% higher at ₹3,581. Over the past 12 months, Mahindra & Mahindra shares have gained 12%, reflecting steady investor confidence in the company’s operational and export growth.

Export Win Strengthens Global Growth Strategy

The record export order highlights Mahindra & Mahindra’s expanding footprint in international markets and its growing role in supplying commercial vehicles for large-scale government and infrastructure programmes. The deal also underscores the increasing importance of exports in supporting the company’s long-term growth amid volatile domestic market conditions.