The export deal that lifted Mahindra shares

Mahindra & Mahindra gave the markets something solid to cheer about, with its shares jumping after the automaker announced its biggest export deal.

What’s happening: the company has secured a deal to supply 35,000 units of its Scorpio Pik-Up to Indonesia’s state-owned Agrinas Pangan Nusantara, a state-owned Indonesian enterprise focused on agriculture and food security, with deliveries scheduled for 2026.

The vehicles will be deployed under Indonesia’s KDKMP programme, a government-backed initiative to strengthen rural logistics, improve farm-to-market connectivity, and support national food security goals. 

They will be manufactured at Mahindra’s Nashik plant and used for first-mile and intra-village transport across cooperatives.

Why it matters: Mahindra said the order is larger than its entire export volume for FY25, marking a major boost to its global business.

The export milestone comes at a time when Mahindra’s broader auto business is already in strong shape. In January, the company reported total auto sales of 1,04,309 vehicles, up 24% year-on-year. Exports for the month also inched up 5% to 3,577 units.