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Mahindra & Mahindra Ltd.

Automobile & AncillariesAutomobiles - Passenger Cars

www.mahindra.com BSE: 500520NSE: M&M

₹2,822.95BSE1.47%

23 Oct, 10:41 AM

₹2,822.95

₹3.55L Cr

19.22

3.61

22.00%

₹2,868.80

₹2,802.70

₹3,840.00

₹2,743.15

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Price Performance

Peer Comparison

Name
Mahindra & Mahindra Ltd. M&M	2,822.95	19.22	3,54,965.30	1.16	5,997.56	37.04%	58,187.57	27.80%	16.29
MARUTISUZUK MARUTI	11,038.80	24.56	3,47,062.71	1.25	3,446.90	-9.11%	52,469.80	35.91%	19.03
HYUNDAI HYUNDAI	1,859.60	31.10	1,51,100.14	1.11	888.62	-35.10%	16,334.63	-0.48%	38.55
TMPV TMPV	262.50	1.25	96,678.54	1.11	859.00	-78.54%	95,799.00	9.26%	0.67
MERCURYEV MERCURYEV	31.75	152.50	603.16	0.00	1.56	-4.18%	33.38	47.93%	2.53
HIND.MOTORS HINDMOTORS	12.80		267.08	0.00					0.00

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Sep 2022	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	29,870.76	37,217.72	37,923.74	41,470.05	42,599.31	45,529.19	46,105.67	52,099.75	54,981.91	58,187.57
Expenses	24,856.00	29,974.60	30,790.34	33,239.32	34,688.37	37,301.39	37,176.58	41,993.21	45,265.47	47,622.62
	5,014.76	7,243.12	7,133.40	8,230.73	7,910.94	8,227.80	8,929.09	10,106.54	9,716.44	10,564.95
	16.79%	19.46%	18.81%	19.85%	18.57%	18.07%	19.37%	19.40%	17.67%	18.16%
	966.23	408.77	659.22	411.33	701.73	916.92	675.51	565.58	994.84	1,016.03
Interest	1,381.70	2,107.69	2,217.02	2,362.16	2,396.52	2,431.19	2,347.03	2,405.30	2,407.33	2,559.91
	1,091.77	1,247.77	1,301.99	1,495.17	2,028.72	1,547.56	1,668.89	2,162.89	1,942.68	1,760.47
	3,943.05	4,620.87	4,739.96	5,091.99	4,626.80	5,644.11	6,057.93	6,568.62	6,914.10	7,628.09
	23.37%	23.27%	29.09%	28.82%	23.45%	22.46%	34.57%	23.55%	23.92%	21.38%
	2,772.73	3,282.63	3,170.72	3,180.58	3,295.17	4,083.32	3,673.32	4,674.64	4,667.57	5,454.54
	24.92	29.44	28.42	28.50	29.52	36.57	32.89	41.84	41.77	48.79

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
	93,333.38	1,26,313.42	1,44,793.80	1,65,068.55	2,06,464.65
	90,170.57	1,21,268.55	1,38,279.30	1,58,749.75	1,97,792.78
EXPENDITURE :
Increase/Decrease in Stock	-861.66	-2,032.31	-1,455.32	-12.18	698.79
Raw Material Consumed	52,767.98	76,019.87	85,070.07	95,754.90	1,22,223.59
Power & Fuel Cost	541.27	830.48	752.73	832.35	966.56
Employee Cost	8,386.74	9,677.95	10,624.33	11,126.17	12,730.62
Other Manufacturing Expenses	3,124.27	3,838.42	3,791.75	4,162.28	5,426.16
General and Administration Expenses	1,105.53	2,251.30	2,435.90	2,603.27	2,860.17
Selling and Distribution Expenses	5,150.58	6,559.86	7,762.05	8,553.27	9,884.22
Miscellaneous Expenses	5,376.14	3,891.56	5,204.83	5,672.57	6,868.57
	75,590.85	1,01,037.13	1,14,186.34	1,28,692.63	1,61,658.68
Operating Profit (Excl OI)	14,579.72	20,231.42	24,092.96	30,057.12	36,134.10
	1,037.64	1,442.85	3,094.76	2,736.85	4,376.29
	15,617.36	21,674.27	27,187.72	32,793.97	40,510.39
Interest	5,018.05	6,012.19	7,607.58	9,178.12	9,675.58
PBDT	10,599.31	15,662.08	19,580.14	23,615.85	30,834.81
	3,507.50	4,356.81	4,723.78	6,073.65	7,322.02
Profit Before Taxation & Exceptional Items	7,091.81	11,305.27	14,856.36	17,542.20	23,512.79
Exceptional Income / Expenses	414.17	1,249.52			-292.94
	9,361.77	14,060.23	15,977.79	19,079.62	25,184.76
Provision for Tax	2,108.76	2,685.75	3,707.97	5,006.45	6,563.05
	7,253.01	11,374.48	12,269.82	14,073.17	18,621.71
Extra items	0.00	0.00	0.00	0.00	0.00
Minority Interest	-675.69	-1,092.98	-1,001.18	-1,144.07	-1,522.86
Consolidated Net Profit	6,577.32	10,281.50	11,268.64	12,929.10	17,098.85
Profit Balance B/F	33,667.96	39,174.21	48,187.61	57,717.86	68,007.89
Appropriations	40,245.28	49,455.71	59,456.25	70,646.96	85,106.74
Equity Dividend %	231.00%	325.00%	422.00%	506.00%	660.00%
	59.14	92.32	101.09	115.82	153.00
Adjusted EPS	59.14	92.32	101.09	115.82	153.00

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	556.06	556.82	557.38	558.15	558.78
Share Warrants & Outstandings	223.46	260.33	298.76	308.32	506.43
Total Reserves	46,343.12	55,548.64	65,334.41	76,172.39	92,031.14
Reserve excluding Revaluation Reserve	46,343.12	55,548.64	65,334.41	76,172.39	92,031.14
	47,122.64	56,365.79	66,190.55	77,038.86	93,096.35
Minority Interest	9,702.62	10,716.32	11,318.79	12,059.14	16,394.65
Secured Loans	33,081.05	43,067.92	55,972.73	64,160.71	59,019.49
Unsecured Loans	15,544.01	12,359.47	13,768.69	19,621.75	17,423.20
Deferred Tax Assets / Liabilities	61.79	-6.82	193.14	338.96	193.38
Other Long Term Liabilities	9,088.51	9,378.23	9,968.91	10,489.71	11,245.29
Long Term Trade Payables	1.55	0.04
Long Term Provisions	1,497.99	1,815.95	1,763.28	1,982.02	2,582.76
Total Non-Current Liabilities	59,274.90	66,614.79	81,666.75	96,593.15	90,464.12
Trade Payables	19,036.55	23,835.66	25,665.64	30,855.30	37,888.67
Other Current Liabilities	30,521.96	35,866.10	37,284.85	49,240.12	56,468.63
Short Term Borrowings	5,369.61	9,072.18	10,929.64	8,193.11	18,949.89
Short Term Provisions	1,360.21	1,805.47	1,665.52	2,033.48	2,791.37
Total Current Liabilities	56,288.33	70,579.41	75,545.65	90,322.01	1,16,098.56
Total Liabilities	1,72,388.49	2,04,276.31	2,34,721.74	2,76,013.16	3,16,053.68
Gross Block	48,526.15	52,089.81	56,494.80	66,142.54	75,955.29
Less: Accumulated Depreciation	22,507.66	24,949.83	28,332.87	31,506.18	36,977.83
Less: Impairment of Assets			32.52		518.04
Net Block	26,018.49	27,139.98	28,129.41	34,636.36	38,459.42
Capital Work in Progress	3,036.10	1,222.66	3,461.33	3,652.56	2,368.02
Non Current Investments	19,210.55	21,006.50	21,573.46	19,361.10	19,518.97
Long Term Investment	19,210.55	21,006.50	21,573.46	19,361.10	19,518.97
Long Term Loans & Advances	42,166.04	56,635.23	73,549.67	84,108.64	93,854.15
Other Non Current Assets	3,142.60	4,200.58	5,164.26	3,036.15	9,341.99
Total Non-Current Assets	97,240.49	1,12,950.87	1,36,456.10	1,49,439.89	1,68,914.06
Currents Investments	10,849.88	14,265.92	13,634.64	21,947.47	20,804.87
Inventories	11,595.82	16,854.97	18,590.47	20,330.93	22,044.11
Sundry Debtors	6,373.95	7,028.02	7,459.40	8,279.70	9,064.27
Cash and Bank	11,117.61	11,273.43	12,012.75	20,614.84	31,978.58
Other Current Assets	3,321.83	3,691.40	3,506.71	5,094.95	7,121.29
Short Term Loans and Advances	31,888.91	38,155.10	43,036.20	50,305.38	55,963.37
Total Current Assets	75,148.00	91,268.84	98,240.17	1,26,573.27	1,46,976.49
Net Current Assets (Including Current Investments)	18,859.67	20,689.43	22,694.52	36,251.26	30,877.93
Total Assets	1,72,388.49	2,04,276.31	2,34,721.74	2,76,013.16	3,16,053.68
Contingent Liabilities	4,387.34	9,187.38	11,078.63	11,305.61	11,600.31
Total Debt	74,667.18	89,167.01	1,05,224.96	1,25,248.22	1,32,587.26
	421.71	503.80	591.09	687.36	828.50
Adjusted Book Value	421.71	503.80	591.09	687.36	828.50

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	7,091.81	11,305.27	14,856.36	17,542.20	23,512.79
Adjustment	3,422.90	4,336.62	2,684.88	4,507.64	5,425.68
Changes In working Capital	293.26	-19,941.04	-19,175.09	-14,113.34	-11,015.69
Cash Flow after changes in Working Capital	10,807.97	-4,299.15	-1,633.85	7,936.50	17,922.78
Cash Flow from Operating Activities	9,247.55	-7,074.02	-5,629.95	3,175.81	11,657.36
Cash Flow from Investing Activities	-3,225.82	-8,547.26	-5,597.77	-18,626.11	-17,707.39
Cash Flow from Financing Activitie	-5,882.60	15,946.11	12,281.41	15,834.11	5,391.04
Net Cash Inflow / Outflow	139.13	324.83	1,053.69	383.81	-658.99
Opening Cash & Cash Equivalents	3,374.59	3,487.59	3,493.41	4,530.10	4,923.89
Cash & Cash Equivalent of Subsidiaries under liquidations	-13.36	-352.87	-4.97		-87.10
Effect of Foreign Exchange Fluctuations	-12.77	33.86	-12.03	9.98	114.44
Closing Cash & Cash Equivalent	3,487.59	3,493.41	4,530.10	4,923.89	4,292.24

Ratios

Valuation

19.22

3.61

10.63

1.68

148.53

790.36

Profitability

22.00

16.29

6.29

17.50

9.02

Leverage & Liquidity

1.43

1.27

3.60

Returns

1.16

0.70

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26	Sep '26
	18.56	18.54	18.48	18.45	18.44	18.44	18.44	18.45	18.45	18.39
	68.14	68.30	68.20	68.15	68.20	68.07	68.00	67.78	67.60	67.65
	13.30	13.15	13.31	13.38	13.35	13.49	13.56	13.76	13.95	13.96
	81.44	81.46	81.52	81.55	81.56	81.56	81.56	81.55	81.55	81.61
No. of Shareholders	7,56,259	7,99,531	8,55,175	8,95,699	8,64,189	8,81,154	8,85,061	9,41,478	9,89,776	9,94,602

Mutual Funds Invested(602)

Based on each fund's latest monthly portfolio · Sep 2026

A total of 428 active funds hold 12.97% in Mahindra & Mahindra Ltd., contributing to ₹47.59K Cr of holdings

Fund				As of
PP Parag Parikh Flexi Cap Fund - Growth - Direct PlanFlexi Cap Fund	5,641.06	3.89	1,91,22,225	Sep '26
SB SBI Nifty 50 ETFIndex	5,111.94	2.52	1,73,28,611	Sep '26
SB SBI BSE Sensex ETFIndex	3,546.01	3.07	1,20,30,984	Sep '26
IP ICICI Prudential Large Cap Fund - Growth - Direct PlanLarge Cap Fund	1,917.82	2.51	65,01,087	Sep '26
UT UTI Nifty 50 ETFIndex	1,753.12	2.52	59,42,775	Sep '26
UT UTI BSE Sensex ETFIndex	1,670.89	3.07	56,69,040	Sep '26
NI Nippon India ETF Nifty 50 BeESIndex	1,641.08	2.52	55,62,996	Sep '26
NI Nippon India Large Cap Fund - Growth - Direct PlanLarge Cap Fund	1,275.82	2.49	43,24,811	Sep '26
AX Axis Large Cap Fund - Growth - Direct PlanLarge Cap Fund	1,125.02	3.85	38,13,639	Sep '26
IP ICICI Prudential Nifty 50 ETFIndex	1,076.03	2.52	36,47,575	Sep '26

Corporate Actions

Showing: All

Date	Type	Details	Ex-Date	Record Date
2026-09-24	Board Meeting	Quarterly Results
2026-06-25	Board Meeting	Quarterly Results
2026-05-05	Ex Dividend	Rs.33.0000 per share(660%)Final Dividend	2026-07-03	2026-07-03

Insider Trading

Date	Person	Category	Transaction Type	Shares	Value (₹)

No insider trading data available.

Sector Overview

Automobile & AncillariesAutomobiles - Passenger Cars

Mahindra & Mahindra Ltd. operates in the Automobile & Ancillaries sector under the Automobiles - Passenger Cars industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

13 members across the board and senior leadership

Anand G Mahindra

Chairman

₹6.18 Cr

Mar '26

Anish Shah

Managing Director & Group Chief Executive Officer

₹22.29 Cr

Mar '26

Rajesh Jejurikar

Whole Time Director - Auto and Farm Sector

₹17.99 Cr

Mar '26

Shikha Sharma

Lead Independent Director

₹1.18 Cr

Mar '26

Nisaba Godrej

Non Executive Independent Director

₹1.04 Cr

Mar '26

Muthiah Murugappan

Non Executive Independent Director

₹1.10 Cr

Mar '26

Padmasree Warrior

Non Executive Independent Director

₹1.03 Cr

Mar '26

Ranjan Pant

Non Independent & Non Executive Director

₹1.06 Cr

Mar '26

Sat Pal Bhanoo

Nominee Director - LIC

₹1.01 Cr

Mar '26

Samina Hamied

Non Executive Independent Director

₹49.15 L

Mar '26

MP Vijay Kumar

Non Executive Independent Director

₹53.00 L

Mar '26

Sailesh Kumar Daga

Company Secretary & Compliance Officer

—

Muthu Raju Paravasa Raju Vijay Kumar

Non Executive Independent Director

—

M&M Latest News

News

10 of 10 articles

EQUITY16 Oct 2026 · 11:05

M&M accelerates on launching mainstream CNG passenger vehicle 'XUV 3XO ZNG'

Bookings for the XUV 3XO ZNG will open on October 20, 2026, across authorised dealerships

COMPANY16 Oct 2026 · 10:58

M&M launches mainstream CNG passenger vehicle 'XUV 3XO ZNG'

Bookings for the XUV 3XO ZNG will open on October 20, 2026, across authorised dealerships

EQUITY13 Oct 2026 · 15:02

M&M rises on starting commercial production of zero-till multi-crop seeding machine 'MaxSeeder'

The MaxSeeder is designed to sow a wide variety of crops, including rice, wheat, soybean, maize and cotton

COMPANY13 Oct 2026 · 14:58

M&M starts commercial production of zero-till multi-crop seeding machine 'MaxSeeder'

The MaxSeeder is designed to sow a wide variety of crops, including rice, wheat, soybean, maize and cotton

COMPANY1 Oct 2026 · 16:13

M&M’s trucks & buses business sales jump 53% in September 2026

MTBD has reported total sales of 1,788 units in September 2026, up 87% from 954 units in September 2025

COMPANY1 Oct 2026 · 15:29

M&M’s Farm Equipment Business reports 21% decline in September tractor sales

Exports stood at 1,892 units in September 2026, as compared with 1,165 units in September 2025, registering a growth of 62%

COMPANY1 Oct 2026 · 14:50

M&M reports 15% rise in overall auto sales in September 2026

The company's exports declined 7% to 4,019 units in September 2026 from 4,320 units in the corresponding month last year

EQUITY24 Sept 2026 · 17:33

Mahindra & Mahindra submits board meeting intimation

COMPANY23 Sept 2026 · 10:30

M&M launches Thar OG

Thar OG starts at a price of Rs 10.32 lakh (ex-showroom)

EQUITY21 Sept 2026 · 09:55

M&M moves up on introducing XUV 3XO REVX EDGE

The company has also launched XUV 3XO REVX M(O) with petrol automatic transmission

M&M

₹2,822.95

-1.47%