Automobile and Auto Components · NIFTY 50

Mahindra & Mahindra Limited

NSEM&M BSE500520 ISININE101A01026 SeriesEQ Listed on NSE · BSE

₹3,399.00 -66.00 (-1.90%) Updated 12 Nov, 8:49 pm IST

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Price, daily close-8.21% in a year

Today

Open: ₹3,425.00
Prev close: ₹3,465.00
Day high: ₹3,429.90
Day low: ₹3,368.00
Volume: 26.24 L
Value traded: ₹891.61 Cr
Upper circuit: ₹3,489.10
Lower circuit: ₹3,285.90
52W high: ₹3,839.90
52W low: ₹2,744.30
1 month: +19.48%
6 months: +1.27%

52W low52W high

Ratios

Key numbers

Worked out from the latest filings (Consolidated) and today's price. TTM = last four quarters.

Market cap₹380,090 Cr

P/E (TTM)19.69

P/B3.88

Book value / share₹875.64

EPS (TTM)₹172.66

ROE19.8%

Dividend yield0.97%

Dividend (12m)₹33.00 / share

Net margin (TTM)8.7%

Operating margin17.8%

Debt / equity1.53

Current ratio1.29

EV / EBITDA12.93

Sales growth (YoY qtr)+24.83%

Profit growth (YoY qtr)+24.90%

Sales CAGR 3Y+17.88%

Profit CAGR 3Y+18.48%

Shares111.82 Cr

Quarterly results

Results for each quarter

Last 12 quarters, consolidated, ₹ crore. Hover a bar to see the number.

Revenue and net profit

35,2992,658

Dec 23

35,4522,754

Mar 24

37,2183,283

Jun 24

37,9243,171

Sep 24

41,4703,181

Dec 24

42,5993,295

Mar 25

45,5294,083

Jun 25

46,1063,673

Sep 25

52,1004,675

Dec 25

54,9824,668

Mar 26

58,1885,455

Jun 26

57,5534,588

Sep 26

Revenue · QoQ (vs last quarter)

—+0.4%+5.0%+1.9%+9.4%+2.7%+6.9%+1.3%+13%+5.5%+5.8%-1.1%

Revenue · YoY (vs a year ago)

————+17%+20%+22%+22%+26%+29%+28%+25%

Net profit · QoQ (vs last quarter)

—+3.6%+19%-3.4%+0.3%+3.6%+24%-10%+27%-0.2%+17%-16%

Net profit · YoY (vs a year ago)

————+20%+20%+24%+16%+47%+42%+34%+25%

RevenueNet profitLine = trend

23.76

Dec 23

24.61

Mar 24

29.32

Jun 24

28.31

Sep 24

28.40

Dec 24

29.04

Mar 25

36.43

Jun 25

32.51

Sep 25

41.69

Dec 25

41.48

Mar 26

48.59

Jun 26

40.90

Sep 26

EPS (₹) · YoY (vs a year ago)

————+20%+18%+24%+15%+47%+43%+33%+26%

EPS (₹)Line = trend

₹ Cr	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
Revenue	35,299	35,452	37,218	37,924	41,470	42,599	45,529	46,106	52,100	54,982	58,188	57,553
Other income	511	356	409	659	411	702	917	676	859	995	1,016	1,187
Total income	35,810	35,807	37,626	38,583	41,881	43,301	46,446	46,781	52,958	55,977	59,204	58,740
Raw material	19,470	19,785	19,807	21,432	21,700	25,172	26,711	27,887	27,816	31,140	33,229	36,909
Purchases	1,948	1,575	1,823	1,945	2,020	1,856	2,067	2,045	2,223	2,336	2,378	2,235
Employee cost	2,686	2,639	2,679	2,655	2,883	2,910	3,045	3,112	3,336	3,238	3,388	3,303
Other expenses	4,867	5,524	5,134	5,453	5,227	6,009	5,922	5,955	6,511	7,696	7,902	6,830
Total expenses	32,143	32,172	33,330	34,309	37,097	39,114	41,280	41,193	46,561	49,615	51,943	51,845
Operating profit	6,224	6,604	7,243	7,133	8,231	7,911	8,228	8,929	9,814	9,716	10,565	10,221
OPM %	17.6%	18.6%	19.5%	18.8%	19.8%	18.6%	18.1%	19.4%	18.8%	17.7%	18.2%	17.8%
Finance cost	1,945	1,989	2,108	2,217	2,362	2,397	2,431	2,347	2,405	2,407	2,560	2,682
Depreciation	1,123	1,335	1,248	1,302	1,495	2,029	1,548	1,669	2,163	1,943	1,760	1,832
Exceptional items	—	—	—	—	—	—	—	—	-293	—	—	—
Profit before tax	3,667	3,635	4,296	4,274	4,785	4,187	5,166	5,589	6,104	6,361	7,261	6,895
Tax	935	905	1,075	1,379	1,468	1,085	1,268	2,094	1,547	1,654	1,631	2,198
Net profit	2,977	3,125	3,546	3,361	3,624	3,542	4,377	3,964	5,021	5,260	5,998	5,167
Profit to shareholders	2,658	2,754	3,283	3,171	3,181	3,295	4,083	3,673	4,675	4,668	5,455	4,588
EPS (₹)	23.76	24.61	29.32	28.31	28.40	29.04	36.43	32.51	41.69	41.48	48.59	40.90

Profit & loss

Results for each year

8 financial years (April to March), consolidated, ₹ crore.

Sales, operating profit and net profit

1.05L15,4315,315

FY19

95,17910,590127

FY20

74,27812,5181,812

FY21

90,17115,0976,577

FY22

1.21L21,53510,282

FY23

1.39L24,89211,269

FY24

1.59L30,51812,929

FY25

1.99L36,68717,099

FY26

Revenue · YoY (vs a year ago)

—-9.1%-22%+21%+34%+15%+14%+25%

Net profit · YoY (vs a year ago)

—-98%+1,327%+263%+56%+9.6%+15%+32%

RevenueOperating profitNet profitLine = trend

₹ Cr	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	104,721	95,179	74,278	90,171	121,269	139,078	159,211	198,639
Other income	1,086	1,063	1,033	935	1,206	2,176	2,181	3,446
Total expenses	98,526	93,656	70,082	84,013	111,170	126,398	143,850	178,572
Employee cost	11,564	11,212	7,813	8,387	9,678	10,624	11,126	12,731
Operating profit	15,431	10,590	12,518	15,097	21,535	24,892	30,518	36,687
OPM %	14.7%	11.1%	16.9%	16.7%	17.8%	17.9%	19.2%	18.5%
Finance cost	5,021	6,065	6,102	5,018	5,830	7,488	9,083	9,591
Depreciation	3,991	4,976	3,378	3,508	4,357	4,724	6,074	7,322
Profit before tax	7,504	612	4,071	7,506	12,555	14,856	17,542	23,220
Tax	2,854	1,976	1,646	2,109	2,686	3,708	5,006	6,563
Tax rate %	38.0%	322.8%	40.4%	28.1%	21.4%	25.0%	28.5%	28.3%
Net profit	6,017	-321	1,512	7,253	11,374	12,270	14,073	18,622
Profit to shareholders	5,315	127	1,812	6,577	10,282	11,269	12,929	17,099
Net margin %	5.1%	0.1%	2.4%	7.3%	8.5%	8.1%	8.1%	8.6%
EPS (₹)	48.70	1.04	16.15	58.83	91.96	100.70	115.06	152.18

Balance sheet

Assets and debt

At each year end (and the latest half year), ₹ crore.

Equity, debt and assets

56,36692,2473,493

Mar 23

66,1911.03L4,530

Mar 24

77,0391.21L4,924

Mar 25

93,0961.30L4,292

Mar 26

97,9171.49L8,166

Sep 26

Shareholders' equity · YoY (vs a year ago)

—+17%+16%+21%—

Shareholders' equityBorrowingsCashLine = trend

₹ Cr	Mar 23	Mar 24	Mar 25	Mar 26	Sep 26
Shareholders' equity	56,366	66,191	77,039	93,096	97,917
Long-term borrowings	57,910	67,720	79,707	73,470	81,014
Short-term borrowings	34,337	35,484	41,466	56,145	68,371
Total borrowings	92,247	103,203	121,173	129,615	149,385
Current liabilities	70,579	75,546	90,322	116,099	135,675
Fixed assets (PPE)	20,351	21,409	25,835	29,012	29,438
Inventories	16,855	18,590	20,331	22,044	24,125
Trade receivables	7,028	7,459	8,280	9,064	9,904
Cash & equivalents	3,493	4,530	4,924	4,292	8,166
Current assets	91,269	98,240	126,573	146,976	174,820
Total assets	205,892	236,301	277,586	317,635	352,268
Debt / equity	1.64	1.56	1.57	1.39	1.53

Cash flow

Cash coming in and going out

For each financial year, ₹ crore. Free cash flow = cash from operations minus spending on fixed assets.

Operating, investing and financing cash

9,248-3,239-5,883

FY22

-7,074-8,90015,946

FY23

-5,630-5,60312,281

FY24

3,176-18,62615,834

FY25

11,657-17,7945,391

FY26

Operations · YoY (vs a year ago)

—-176%+20%+156%+267%

OperationsInvestingFinancingLine = trend

₹ Cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	9,248	-7,074	-5,630	3,176	11,657
Cash from investing	-3,239	-8,900	-5,603	-18,626	-17,794
Cash from financing	-5,883	15,946	12,281	15,834	5,391
Spent on fixed assets	-6,040	-6,305	-9,946	-10,392	-9,605
Free cash flow	3,208	-13,379	-15,576	-7,216	2,052
Net cash flow	126	-28.0	1,049	384	-746

Shareholding

Who holds the shares

Promoter and public holding at each quarter end, as filed with NSE.

Holding over time

19.3%Dec 23

18.6%Mar 24

18.6%Jun 24

18.5%Sep 24

18.5%Dec 24

18.5%Mar 25

18.4%Jun 25

18.4%Sep 25

18.4%Dec 25

18.5%Mar 26

18.5%Jun 26

18.4%Sep 26

Promoter & groupPublic

Latest (30 Sep 2026)

18.4%promoter

Promoter & group: 18.39%
Public (FIIs, mutual funds, retail…): 78.16%
Employee trusts: 3.45%
Promoter change, last quarter: -0.06 pts

Dividends & news

Latest dividends and announcements

Dividends & corporate actions

Dividend - Rs 33 Per ShareEx 03-Jul-2026
Dividend - Rs 25.30 Per ShareEx 04-Jul-2025
Annual General Meeting/Dividend - Rs 21.10 Per ShareEx 05-Jul-2024
Annual General Meeting/Dividend - Rs 16.25 Per ShareEx 14-Jul-2023
Annual General Meeting/Dividend - Rs 11.55 Per ShareEx 14-Jul-2022
Annual General Meeting/Dividend - Rs 8.75 Per ShareEx 15-Jul-2021
Annual General Meeting/Dividend - Rs 2.35 Per ShareEx 16-Jul-2020
Annual General Meeting/Dividend - Rs 8.50 Per ShareEx 18-Jul-2019

Board meetings

the Quarterly Unaudited Financial results of the Company for the period ended September 2026 and Other business.05-Nov-2026
the financial results for the period ended September 30, 2026 and other business matters05-Nov-2026
the Quarterly Unaudited Financial results of the Company for the period ended June 2026 and Other business.30-Jul-2026
the financial results for the period ended Jun 30, 2026 and other business matters30-Jul-2026
the Yearly Audited Financial results of the Company for the period ended March 2026 and Dividend/Other business.05-May-2026

Filings with NSE

Analysts/Institutional Investor Meet/Con. Call Updates12 Nov
General Updates12 Nov
Analysts/Institutional Investor Meet/Con. Call Updates11 Nov
Analysts/Institutional Investor Meet/Con. Call Updates11 Nov
Acquisition6 Nov
Copy of Newspaper Publication6 Nov
Analysts/Institutional Investor Meet/Con. Call Updates5 Nov

Latest news

Mahindra & Mahindra participates in BOFA India Autos Boardroom Seriesscanx.trade · 12 Nov, 5:37 pm Mahindra & Mahindra total sales up 7% YoY to 126,706 units in Oct 2026scanx.trade · 12 Nov, 5:31 pm Mahindra And Mahindra shares rise up to 5% after Q1 results; should you buy, sell or hold?Moneycontrol.com · 31 Jul, 12:30 pm MAHINDRA & MAHINDRA SHARE PRICEICICI Direct · 3 Dec, 1:30 pm M&M share price target can go up to ₹4,875, projects its biggest bull after new launchesCNBC TV18 · 17 Aug, 12:30 pm Here's Why We Think Mahindra & Mahindra (NSE:M&M) Might Deserve Your Attention TodaySimply Wall St · 1 Jun, 12:30 pm Mahindra & Mahindra stock rating: HSBC bullish, Nomura eyes EV policy tailwinds; check target priceMoneycontrol.com · 30 Jun, 12:30 pm Mahindra & Mahindra FY26 dividend: M&M announces final payout of ₹33/share; key detailsUpstox · 5 May, 12:30 pm

About

About Mahindra & Mahindra Limited

Mahindra & Mahindra Limited is listed on the NSE under the symbol M&M and belongs to the Automobile and Auto Components sector.

Company details

Company name: Mahindra & Mahindra Limited
NSE symbol: M&M
BSE scrip code: 500520
ISIN: INE101A01026
Listed on: NSE, BSE
Series: EQ (normal equity)
Listed on NSE since: 3 Jan 1996
Face value: ₹5 per share
Market lot: 1 share
Shares issued: 111.82 crore
Index: NIFTY 50, NIFTY 500
Sector (NSE): Automobile and Auto Components
Industry: Motor Vehicles
Managing director / CEO: Anish Shah
Chair: Anand Mahindra
Financial year: April to March
Results basis: Consolidated
Website: mahindra.com

Peers

Other Automobile and Auto Components stocks

Prices from NSE via Upstox. Financials from the company's results filed with NSE (XBRL); ratios are our own working. Profile from global-stock-logos (MIT). For information only, not a recommendation to buy or sell.

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Mahindra & Mahindra Limited

Today

Ratios

Quarterly results

Revenue and net profit

Profit & loss

Sales, operating profit and net profit

Balance sheet

Equity, debt and assets

Cash flow

Operating, investing and financing cash

Shareholding

Holding over time

Latest (30 Sep 2026)

Dividends & news

Dividends & corporate actions

Board meetings

Filings with NSE

Latest news

About

Company details

Peers