Mahindra & Mahindra Ltd (M&M), a leading automotive and farm equipment manufacturer and part of the Mahindra Group, reaffirmed its focus on R&D and the ‘Make in India’ initiative, has reported a 20-fold increase in patents granted over the past decade, rising from 56 in FY16 to 1,334 in FY26.
The cumulative number of patent applications filed by the company stood at 2,728 as of March 2026, reflecting a sustained push towards innovation and technological advancement.
Strong R&D momentum
Of the total patents granted, about 60% relate to the automotive business, while the remaining 40% are linked to the farm equipment segment.
The conversion ratio of applications to granted patents has improved significantly, from 8% in FY16 to over 65% for applications filed over the last decade, indicating enhanced efficiency in R&D outcomes.
The patent portfolio also includes filings from its subsidiary Mahindra Electric Automobile Ltd.
Innovation-led growth
M&M said the expansion of its patent portfolio underscores its growing R&D capabilities and has enabled the company to push technological boundaries and deliver enhanced customer experiences.
The company has also received multiple recognitions for innovation, including the CII IP Award for Best Patent Portfolio, the CII Innovation Award (Top 50 Innovative Companies 2025), the CII National Award for Industry-Academia Partnership, the Questel IP Excellence Award and honours at the CMO Asia Awards 2025.
Outlook
The continued focus on innovation and intellectual property development is expected to support M&M’s long-term growth strategy across automotive and farm segments, while strengthening its positioning in emerging mobility and technology-driven markets.