Memory chip shortage could disrupt production
Memory chip shortages are driving premiums and pose a supply chain risk across the entire portfolio, not just EVs. Management is mitigating with inventory buildup but acknowledges severity.
MM / Q3-FY26 / risks
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Mahindra & Mahindra · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Commodity inflation may pressure margins
Precious metals and other commodities are inflating; hedges cover only part of the exposure. Management has taken a 1% price increase but may need more if inflation persists.
Farm subsidy-led demand may normalize
Maharashtra's tractor subsidy added ~35,000 units this year; its withdrawal could flatten demand in FY27, though other states may compensate.
International farm subsidiaries continue to drag
Impairments in Japan and Turkey impacted farm profitability. Restructuring will take time, with trailing costs expected through FY27.