Mahindra & Mahindra Ltd
NSE: M&M · Passenger Cars & Utility Vehicles · sector
₹2,853.10NSE close 2026-10-26
Key numbers
Market cap₹3,18,948 cr
Price₹2,853.10
52w high / low₹3,840 / ₹2,744
P/E17.3xSector median 27.6x
P/B3.4xSector median 4.3x
Book value₹832.8
Dividend yield1.06%Sector median 1.12%
ROE21.7%Sector median 21.7%
ROCE15.7%Sector median 17.3%
OPM18.5%Sector median 12.6%
Debt / equity1.39xSector median 0.05x
EV/EBITDA10.1xSector median 14.2x
Interest cover3.6x
Current ratio1.27x
Sales growth 3y+32.7%Sector median +22.2%
Profit growth 3y+37.7%Sector median +38.8%
PEG0.42x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 8 companies in Passenger Cars & Utility Vehicles (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹52,783 cr vs borrowings ₹1,29,614 cr (FY26): borrowings are higher by ₹76,831 cr.
- Operating profit covered interest 3.6x in the last 12 months.
- Other income was 19% of net profit in the last 12 months.
- Dividend paid in 4 of the last 5 financial years.
- Price ₹2,853.10 on 2026-10-26: -25.7% from the 52-week high, +4.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹3,749.10 · low ₹2,523.10
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|
| Revenue | 42,599 | 45,529 | 46,106 | 52,100 | 54,982 | 58,188 |
| EBITDA | 7,911 | 8,228 | 8,929 | 9,814 | 9,716 | 10,565 |
| OPM % | 18.6% | 18.1% | 19.4% | 18.8% | 17.7% | 18.2% |
| Other income | 702 | 917 | 676 | 859 | 995 | 1,016 |
| Net profit | 3,295 | 4,083 | 3,673 | 4,675 | 4,668 | 5,455 |
| EPS (₹) | 29.52 | 36.58 | 32.90 | 41.85 | 41.77 | 48.80 |
| Revenue YoY | +29.1% | +27.8% | ||||
| Profit YoY | +41.6% | +33.6% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 57,446 | 84,960 | 1,01,219 | 1,59,211 | 1,98,639 | 2,11,375 |
| EBITDA | 6,834 | 9,013 | 15,122 | 30,518 | 36,687 | 39,024 |
| Net profit | 4,935 | 6,549 | 10,718 | 12,929 | 17,099 | 18,470 |
| EPS (₹) | 41.28 | 54.70 | 89.42 | 115.91 | 153.10 | 165.32 |
| Revenue growth | +47.9% | +19.1% | +57.3% | +24.8% | – | |
| Profit growth | +32.7% | +63.7% | +20.6% | +32.3% | – | |
| Dividend / share (₹) | – | 11.55 | 16.25 | 21.10 | 25.30 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +32.7% | – | – |
| Net profit | +37.7% | – | – |
| EPS | +40.9% | – | – |
| Share price | – | -1.8% (2y) | -20.2% |
Balance sheet
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Shareholders' equity | 77,039 | 93,096 |
| Borrowings | 1,21,173 | 1,29,614 |
| Cash & equivalents | 42,562 | 52,783 |
| Total assets | 2,77,586 | 3,17,635 |
| Fixed assets | 25,835 | 29,012 |
| Capital work in progress | 3,653 | 2,368 |
| Investments | 5,184 | 4,407 |
| Receivables | 8,280 | 9,064 |
| Inventory | 20,331 | 22,044 |
| Payables | 30,855 | 37,889 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Cash from operations | 3,176 | 11,657 |
| Cash from investing | -18,626 | -17,794 |
| Cash from financing | 15,834 | 5,391 |
| Capex | 10,392 | 9,605 |
| Free cash flow | -7,216 | 2,052 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY25 | FY26 |
|---|---|---|
| ROE % | 16.8% | 18.4% |
| ROCE % | 13.4% | 14.7% |
| Debtor days | 19 | 17 |
| Inventory days | 78 | 65 |
| Payable days | 118 | 113 |
| Cash conversion cycle (days) | -21 | -31 |
| Working capital days | 83 | 57 |
Peers in Passenger Cars & Utility Vehicles
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| MARUTI | ₹3,52,757 cr | 24.6x | 3.3x | 14.1% | 17.3% | 10.7% | +16.0% | 1.21% |
| M&M | ₹3,18,948 cr | 17.3x | 3.4x | 21.7% | 15.7% | 18.5% | +32.7% | 1.06% |
| HYUNDAI | ₹1,51,783 cr | 30.6x | 7.6x | 27.3% | 31.9% | 11.2% | – | 1.12% |
| TMPV | ₹97,173 cr | – | 0.9x | 69.5% | -0.7% | 3.7% | -1.0% | 2.27% |
| FORCEMOT | ₹21,863 cr | 17.5x | 5.2x | 34.6% | 36.2% | 18.4% | – | 0.24% |
| OLECTRA | ₹7,893 cr | 44.5x | 6.4x | 15.8% | 19.7% | 14.0% | +28.5% | – |
| MERCURYEV | ₹593 cr | – | – | – | – | – | – | – |
| HINDMOTORS | ₹139 cr | 31.3x | 4.3x | -12.4% | -12.2% | – | – | – |
Business segments (2026-06-30)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Automotive | ₹34,387 cr | 57.5% | ₹2,645 cr | 7.7% |
| Farm Equipment | ₹12,501 cr | 20.9% | ₹1,781 cr | 14.2% |
| Industrial Businesses and Consumer Services | ₹7,201 cr | 12.0% | ₹1,346 cr | 18.7% |
| Financial Services | ₹5,698 cr | 9.5% | ₹1,224 cr | 21.5% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-03 | Dividend | Final Dividend Rs 33.0 |
| 2025-07-04 | Dividend | Dividend Rs 25.3 |
| 2024-07-05 | Dividend | Final Dividend Rs 21.1 |
| 2023-07-14 | Dividend | Dividend Rs 16.25 |
| 2022-07-14 | Dividend | Dividend Rs 11.55 |
Documents
Links go to the original files on the exchange website.
About the company
| Sector | Consumer Discretionary |
| Industry | Passenger Cars & Utility Vehicles |
| Sub-industry | Passenger Cars & Utility Vehicles |
| Symbol | M&M |
| BSE code | 500520 |
| ISIN | INE101A01026 |
| Face value | ₹5.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-22 from BSE company filings (inline XBRL: Integrated Filing - Finance) + BSE results summary for earlier years; price = NSE close 2026-10-26.