Conversion rate crosses 65 per cent; innovation push gains momentum

Mahindra & Mahindra (M&M) has reported a more than 20-fold surge in its patent portfolio over the past decade, underscoring its sustained focus on research and development and its alignment with the ‘Make in India’ initiative. The company’s total granted patents rose from 56 in FY16 to 1,334 in FY26, marking a significant leap in innovation output.

The cumulative number of patent applications filed by the company stood at 2,728 as of March 2026, reflecting a consistent push towards technological advancement and intellectual property creation. Of the total granted patents, 60 per cent are attributed to the Automotive Business, while the remaining 40 per cent relate to the Farm Business, highlighting balanced innovation across core segments.

The company has also significantly improved its conversion rate of applications into granted patents, which has risen from 8 per cent in FY16 to over 65 per cent for applications filed over the last decade, indicating stronger R&D processes and higher-quality filings.

This expansion in patent portfolio mirrors M&M’s growing research capabilities and its emphasis on developing cutting-edge technologies aimed at enhancing customer experience. The portfolio also includes patents filed by its subsidiary, Mahindra Electric Automobile Ltd., further strengthening the Group’s innovation ecosystem.

In addition to its intellectual property growth, the company has garnered multiple recognitions for innovation excellence. Over the past year, M&M received several prestigious honours, including the CII IP Award for Best Patent Portfolio, the CII Innovation Award as one of India’s Top 50 Innovative Companies 2025, the CII National Award for Industry-Academia Partnership, the Questel IP Excellence Award, and recognition at the CMO Asia Awards 2025, reinforcing its position as a leader in innovation-driven growth.