M&M shares rise nearly 2% on biggest-ever export order for 35,000 Scorpio Pik Ups

Mahindra & Mahindra Share Price Today: Shares of Mahindra & Mahindra Ltd (M&M) were trading higher on Wednesday after the company announced a large export order from Indonesia. At around 12:53 pm, M&M shares were up Rs 63.10, or 1.79 per cent, at Rs 3,591 on the NSE.

The automaker said it will supply 35,000 units of Scorpio Pik Up vehicles in 2026 to Agrinas Pangan Nusantara, an Indonesian state-owned enterprise, under the Koperasi Desa/Kelurahan Merah Putih (KDKMP) Project. The vehicles will be deployed to strengthen logistics for cooperatives being set up across Indonesia.

Boost to Mahindra’s international operations

Commenting on the development, Nalinikanth Gollagunta, CEO, Automotive Division, Mahindra & Mahindra Ltd, said the committed volumes would significantly boost Mahindra’s international business, adding as much as the company’s total export volumes achieved in FY25. The partnership, he said, aligns with Mahindra’s focus on strengthening logistics networks that connect farmers directly to markets.

The Scorpio Pik Up vehicles will be manufactured at Mahindra’s Nashik facility. The model is globally recognised for its durability, payload capacity and low operating costs, and has been tailored to operate across challenging rural terrains, including farm tracks and rough roads.

Mahindra said the vehicles will support the Koperasi ecosystem by enabling first-mile aggregation, which involves transporting produce from farms to cooperatives, and facilitating intra-village logistics, ensuring efficient movement of goods within cooperative networks.

Founded in 1945, the Mahindra Group operates in over 100 countries and holds leadership positions in farm equipment, utility vehicles, information technology and financial services in India. The group said the Indonesia partnership reflects its broader commitment to ESG-led growth, rural prosperity and long-term value creation.