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Mahindra & Mahindra Overview

Mahindra and Mahindra Ltd is an India-based agency engaged in the mobility merchandise and farm solutions. The Company's segments iinclude Automotive and Farm Equipment. The Automotive phase contains the sale of automobiles, spares, mobility solutions, production system and associated offerings. The Farm Equipment segment accommodates the sale of tractors, implements, spares and associated services It also accommodates of Powerol and spares enterprise unit. The Company offers a range of products and solutions, together with SUV's, pickups, comm...Read More

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Mahindra & Mahindra Key Financials

Market Cap ₹454908 Cr.

Stock P/E 32.3

P/B 5.5

Current Price ₹3658.2

Book Value ₹ 666.7

Face Value 5

52W High ₹3840

Dividend Yield 0.69%

52W Low ₹ 2360.5

Mahindra & Mahindra Share Price

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Volume
Price

Mahindra & Mahindra Quarterly Price

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Mahindra & Mahindra Peer Comparison

Mahindra & Mahindra Quarterly Results

#(Fig in Cr.) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 33892 34436 35299 35452 37218 37924 41470 42599 45529 46106
Other Income 807 592 511 356 409 659 411 702 917 676
Total Income 34699 35027 35810 35807 37626 38583 41881 43301 46446 46781
Total Expenditure 27646 28706 29075 28848 29975 30790 33239 34688 37301 37177
Operating Profit 7053 6321 6735 6960 7652 7793 8642 8613 9145 9605
Interest 1719 1835 1945 1989 2108 2217 2362 2397 2431 2347
Depreciation 1128 1139 1123 1335 1248 1302 1495 2029 1548 1669
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 4207 3347 3667 3635 4296 4274 4785 4187 5166 5589
Provision for Tax 784 1084 935 905 1075 1379 1468 1085 1268 2094
Profit After Tax 3423 2264 2732 2730 3221 2895 3317 3102 3898 3495
Adjustments 86 84 -73 24 61 276 -137 193 185 179
Profit After Adjustments 3508 2348 2658 2754 3283 3171 3181 3295 4083 3673
Adjusted Earnings Per Share 31.5 21.1 23.9 24.7 29.4 28.4 28.5 29.5 36.6 32.9

Mahindra & Mahindra Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 71448 75841 83773 92094 104721 75382 74278 90171 121269 138279 158750 175704
Other Income 552 521 766 631 1086 1029 1098 1038 1443 3095 2737 2706
Total Income 72000 76362 84539 92725 105806 76411 75376 91208 122711 141374 161487 178409
Total Expenditure 62682 65759 73074 78868 89514 62190 60667 75591 101037 114186 128693 142405
Operating Profit 9318 10603 11465 13857 16292 14220 14710 15617 21674 27188 32794 36005
Interest 3157 3368 3648 3987 5021 6021 6102 5018 6012 7608 9178 9537
Depreciation 2124 2442 2813 3280 3991 3367 3378 3508 4357 4724 6074 6741
Exceptional Income / Expenses 275 32 447 2628 224 -1171 -1158 414 1250 0 0 0
Profit Before Tax 4313 5672 6350 10326 8871 4688 5348 9362 14060 15978 19080 19727
Provision for Tax 1720 2118 2300 2368 2854 1976 1646 2109 2686 3708 5006 5915
Profit After Tax 2593 3555 4051 7958 6017 2713 3702 7253 11374 12270 14073 13812
Adjustments 545 -406 -352 -447 -701 -2586 -1889 -676 -1093 -1001 -1144 420
Profit After Adjustments 3137 3148 3698 7510 5315 127 1812 6577 10282 11269 12929 14232
Adjusted Earnings Per Share 26.5 29.1 34.1 69.1 48.9 1.1 16.3 59.1 92.3 101.1 115.8 127.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 15% 21% 16% 8%
Operating Profit CAGR 21% 28% 18% 13%
PAT CAGR 15% 25% 39% 18%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 23% 41% 35% 20%
ROE Average 20% 21% 18% 16%
ROCE Average 15% 15% 13% 13%

Mahindra & Mahindra Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 25856 26493 29738 36775 39983 39969 41582 47123 56366 66191 77039
Minority's Interest 5892 5920 6357 8250 8361 7692 9070 9703 10716 11319 12059
Borrowings 22327 23599 30125 33809 43526 52298 52778 48625 55427 69741 83782
Other Non-Current Liabilities 6568 7197 7784 8385 11409 11748 9869 10650 11187 11925 12811
Total Current Liabilities 33733 36644 39832 49150 58609 54010 51446 56288 70579 75546 90322
Total Liabilities 94376 99852 113835 136369 161889 165716 164745 172388 204276 234722 276013
Fixed Assets 19047 20585 20989 26182 28983 29689 21380 26018 27140 28129 34636
Other Non-Current Assets 35579 35356 44059 51111 63500 71981 71228 71222 85811 108327 114804
Total Current Assets 39750 43911 48788 59012 69406 63949 72138 75148 91269 98240 126573
Total Assets 94376 99852 113835 136369 161889 165716 164745 172388 204276 234722 276013

Mahindra & Mahindra Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 4633 2676 2522 2937 4467 6139 4745 3375 3488 3493 4530
Cash Flow from Operating Activities 1055 2385 183 682 -4347 -1457 17909 9248 -7074 -5630 3176
Cash Flow from Investing Activities -4165 -5799 -5875 -5468 -7168 -6895 -18447 -3226 -8547 -5598 -18626
Cash Flow from Financing Activities 1669 2967 6108 6315 13194 6933 406 -5883 15946 12281 15834
Net Cash Inflow / Outflow -1441 -447 416 1528 1678 -1419 -132 139 325 1054 384
Closing Cash & Cash Equivalent 3000 2522 2937 4467 6139 4745 3375 3488 3493 4530 4924

Mahindra & Mahindra Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 26.53 29.11 34.13 69.14 48.86 1.15 16.32 59.14 92.32 101.09 115.82
CEPS(Rs) 39.88 55.44 63.34 103.45 91.99 54.84 63.77 96.76 141.26 152.44 180.48
DPS(Rs) 12 6 6.5 7.5 8.5 2.35 8.75 11.55 16.25 21.1 25.3
Book NAV/Share(Rs) 217.59 243.67 272.45 336.44 365.37 358.16 372.22 421.71 503.8 591.09 687.36
Core EBITDA Margin(%) 11.69 12.53 12.02 14.18 14.52 16.69 17.69 15.62 16.02 16.64 18.21
EBIT Margin(%) 9.96 11.23 11.24 15.35 13.27 13.55 14.88 15.41 15.89 16.29 17.12
Pre Tax Margin(%) 5.75 7.05 7.14 11.07 8.47 5.93 6.95 10.03 11.13 11.03 11.56
PAT Margin (%) 3.46 4.42 4.55 8.53 5.75 3.43 4.81 7.77 9.01 8.47 8.53
Cash Profit Margin (%) 6.29 7.45 7.71 12.05 9.56 7.69 9.2 11.53 12.45 11.74 12.21
ROA(%) 2.84 3.66 3.79 6.36 4.03 1.66 2.24 4.3 6.04 5.59 5.51
ROE(%) 10.61 13.65 14.5 24.09 15.77 6.83 9.14 16.44 22.09 20.11 19.73
ROCE(%) 12.22 13.72 13.65 16.72 13.65 9.18 9.46 11.92 15.02 14.88 15.12
Receivable days 27.26 25.62 26.7 30.7 29.92 36.04 30.68 24.21 19.36 18.26 17.4
Inventory Days 40.9 39.85 36.92 35.66 37.53 53.84 49.16 41.48 41.11 44.68 43.03
Payable days 75.67 79.75 80.41 87.73 93.62 140.32 128.04 110.89 98.58 101.53 100.7
PER(x) 22.38 20.78 18.82 10.71 13.75 248.69 48.71 13.62 12.55 19.01 23.02
Price/Book(x) 2.73 2.48 2.36 2.2 1.84 0.8 2.14 1.91 2.3 3.25 3.88
Dividend Yield(%) 1.01 0.99 1.01 1.01 1.27 0.82 1.1 1.43 1.4 1.1 0.95
EV/Net Sales(x) 1.44 1.35 1.36 1.41 1.29 1.41 2.07 1.7 1.71 2.22 2.53
EV/Core EBITDA(x) 11.08 9.66 9.92 9.36 8.3 7.47 10.43 9.81 9.55 11.31 12.27
Net Sales Growth(%) -3.45 6.15 10.46 9.93 13.71 -28.02 -1.46 21.4 34.49 14.03 14.8
EBIT Growth(%) -14.86 21.02 10.61 43.14 -2.94 -22.91 6.91 25.59 39.59 17.5 19.81
PAT Growth(%) -40.03 37.1 13.95 96.46 -24.39 -54.91 36.46 95.93 56.82 7.87 14.7
EPS Growth(%) -32.9 9.74 17.24 102.59 -29.33 -97.65 1324.46 262.3 56.1 9.49 14.58
Debt/Equity(x) 1.47 1.58 1.65 1.53 1.78 2.08 1.89 1.59 1.59 1.6 1.63
Current Ratio(x) 1.18 1.2 1.22 1.2 1.18 1.18 1.4 1.34 1.29 1.3 1.4
Quick Ratio(x) 0.93 0.95 1 1.01 0.98 0.98 1.22 1.13 1.05 1.05 1.18
Interest Cover(x) 2.37 2.68 2.74 3.59 2.77 1.78 1.88 2.87 3.34 3.1 3.08
Total Debt/Mcap(x) 0.51 0.55 0.61 0.61 0.85 2.33 0.79 0.75 0.62 0.44 0.38

Mahindra & Mahindra Shareholding Pattern

# Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Promoter 18.88 18.88 18.89 18.15 18.14 18.14 18.14 18.14 18.14 18.14
FII 39.14 39.32 39.96 40.76 40.95 40.29 38.19 37.65 37.92 37.43
DII 26.28 26.23 25.75 25.57 25.66 26.53 28.75 29.35 29.19 29.56
Public 13.21 13.23 13.18 13.14 13 12.87 13.06 13.16 13.14 13.27
Others 2.48 2.34 2.21 2.39 2.25 2.17 1.86 1.69 1.61 1.6
Total 100 100 100 100 100 100 100 100 100 100

Mahindra & Mahindra News

Mahindra & Mahindra Pros & Cons

Pros

  • Company has delivered good profit growth of 38% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 21%
  • Debtor days have improved from 101.53 to 100.7days.

Cons

  • Promoter holding is low: 18.14%.
  • Stock is trading at 5.5 times its book value.
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