Mahindra & Mahindra Ltd.
Price
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What the numbers say
- Good return on equity: 3-year ROE 20.6%.
- Carries leverage: debt-to-equity of 1.43.
- Sales compounded at 17.7% over 3 years.
- Weak cash conversion (CFO/OP 0.09).
- Trades below its industry P/E (18.7 vs 27.8).
Generated automatically from reported financials. These are observations, not a recommendation to buy or sell.
- 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
- 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
- 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
- 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%
- 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
- M&M launches Thar OG
Thar OG starts at a price of Rs 10.32 lakh (ex-showroom)
- M&M introduces XUV 3XO REVX EDGE
The company has also launched XUV 3XO REVX M(O) with petrol automatic transmission
- M&M launches ‘New Veero 1.1 XXL CNG’, ‘Upgraded Veero Diesel’
The New Veero 1.1 XXL CNG is specifically designed for intra-city applications
Company announcements as filed with the exchanges. Reproduced for information — not a view or a recommendation.
| Profit & Loss · ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Net Sales | 1,97,793 | 1,58,750 | 1,38,279 | 1,21,269 | 90,171 |
| Other income | 4,376 | 2,737 | 3,095 | 1,443 | 1,038 |
| Total Income | 2,02,169 | 1,61,487 | 1,41,374 | 1,22,711 | 91,208 |
| Expenditure | 1,61,659 | 1,28,693 | 1,14,186 | 1,01,037 | 75,591 |
| Operating Profit | 40,510 | 32,794 | 27,188 | 21,674 | 15,617 |
| Interest | 9,676 | 9,178 | 7,608 | 6,012 | 5,018 |
| Depreciation | 7,322 | 6,074 | 4,724 | 4,357 | 3,508 |
| Profit before tax | 25,185 | 19,080 | 15,978 | 14,060 | 9,362 |
| Tax | 6,563 | 5,006 | 3,708 | 2,686 | 2,109 |
| Net Profit | 18,622 | 14,073 | 12,270 | 11,374 | 7,253 |
| EPS (₹) | 153.10 | 115.91 | 101.14 | 92.41 | 59.20 |
| Net margin % | 9.4 | 8.9 | 8.9 | 9.4 | 8.0 |
Consolidated figures, as filed with the exchanges. Newest year first. EPS for FY21 is not shown: the value supplied does not agree with the number of shares the company reported for that year, and we would rather show nothing than a figure we cannot reconcile.
| Balance Sheet · ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Equity capital | 559 | 558 | 557 | 557 | 556 |
| Reserves | 92,031 | 76,172 | 65,334 | 55,549 | 46,343 |
| Net worth | 92,590 | 76,731 | 65,892 | 56,105 | 46,899 |
| Total sources | 1,99,762 | 1,85,352 | 1,58,983 | 1,33,704 | 1,16,038 |
| Net block | 38,459 | 34,636 | 28,129 | 27,140 | 26,018 |
| Capital work in progress | 7,740 | 8,298 | 8,039 | 3,969 | 6,703 |
| Investments | 1,43,520 | 1,28,453 | 1,13,922 | 96,108 | 75,369 |
| Inventory | 22,044 | 20,331 | 18,590 | 16,855 | 11,596 |
| Debtors | 9,064 | 8,280 | 7,459 | 7,028 | 6,374 |
| Cash & bank | 31,979 | 20,615 | 12,013 | 11,273 | 11,118 |
| Book value (₹) | 828.50 | 687.36 | 591.09 | 503.80 | 421.71 |
Consolidated figures, as filed with the exchanges. Newest year first.
| Cash Flow · ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| From operations | 11,657 | 3,176 | -5,630 | -7,074 | 9,248 |
| From investing | -17,707 | -18,626 | -5,598 | -8,547 | -3,226 |
| From financing | 5,391 | 15,834 | 12,281 | 15,946 | -5,883 |
| Net change in cash | -659 | 384 | 1,054 | 325 | 139 |
| Free cash flow | -6,050 | -15,450 | -11,228 | -15,621 | 6,022 |
| Closing cash | 4,292 | 4,924 | 4,530 | 3,493 | 3,488 |
Consolidated figures, as filed with the exchanges. Newest year first.
| Ratios | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| ROCE % | 16.3 | 15.1 | 14.9 | 15.0 | 11.9 |
| ROE % | 22.0 | 19.7 | 20.1 | 22.1 | 16.4 |
| PAT margin % | 9.0 | 8.5 | 8.5 | 9.0 | 7.8 |
| EBIT margin % | 16.9 | 17.1 | 16.3 | 15.9 | 15.4 |
| Debt / equity | 1.43 | 1.63 | 1.60 | 1.59 | 1.59 |
| Current ratio | 1.27 | 1.40 | 1.30 | 1.29 | 1.34 |
| Interest cover | 3.60 | 3.08 | 3.10 | 3.34 | 2.87 |
| Sales growth % | 24.6 | 14.8 | 14.0 | 34.5 | 21.4 |
| Dividend per share (₹) | 33.00 | 25.30 | 21.10 | 16.25 | 11.55 |
| Payout % | 21.6 | 21.8 | 20.9 | 17.6 | 19.5 |
Consolidated figures, as filed with the exchanges. Newest year first.
Frequently asked
Mahindra & Mahindra Ltd. (M&M) last traded at ₹2,864.10 on the NSE, down +0.86% on the session. Prices on this page are indicative and for information only.
Mahindra & Mahindra Ltd. has traded between ₹2,744.30 and ₹3,839.90 over the last 52 weeks on the NSE.
Mahindra & Mahindra Ltd. has a market capitalisation of about ₹3,20,080 crore.
Mahindra & Mahindra Ltd. trades at a P/E of 18.7, against an industry P/E of 27.8.
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Who is actually trading it
Delivery against churn, the deals big enough to be reported, what the insiders did, and the benchmarks that hold Mahindra & Mahindra Ltd..
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Exchange filings and end-of-day data, not a live feed. Bulk, block and insider records are published by the exchanges when a threshold is crossed, so they show reportable activity only. For information, not a recommendation to deal, and not a view on any person named above.
Disclosures. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Prices and data on this page are indicative and for information only. Nothing here is investment advice or a recommendation to buy or sell any security. Investors should consider their own objectives, financial situation and risk profile, and may wish to seek independent advice, before investing.
Figures are as reported by the company; consolidated where available. Errors and omissions excepted.
L. F. C. Securities Pvt. Ltd. · Member BSE, NSE, MCX · SEBI Stock Broker INZ000170736 · CDSL IN-DP-281-2016 · AMFI ARN-78991 · Investment Adviser (Non-Individual) INA000011617 · Compliance Officer: Mr. Santosh Patil · santoshp@labdhi.in · 022-35006933 · Investor Grievances: investorgreve@labdhi.in