Mahindra & Mahindra Ltd.

BSE: M&M500520ISIN INE101A01026

Consumer Discretionary
Passenger Cars & Utility Vehicles
BSE SENSEX

BSE listing

Share price

₹3,053.05-26.95 (-0.87%)

as of 18 Sep 2026

52W high: ₹3,840.00
52W low: ₹2,896.30
Off 52W high: -20.49%
1M return: -10.53%
3M return: -0.70%
6M return: -0.40%
1Y return: -16.15%
20D avg volume: 1,14,879
50 DMA: ₹3,271.91
200 DMA: ₹3,313.29

Key ratios Consolidated

Market cap: ₹3,79,656 Cr
Current price: ₹3,053.05
52W high / low: ₹3,840.00 / ₹2,896.30
Face value: ₹5.00
P/E: 18.76
P/B: —
EPS (TTM): ₹162.78
Book value / share: —
ROE: —
ROCE: 16.30%
Operating margin: —
Net margin: —
Debt / equity: 1.18
Net debt: ₹1,25,322 Cr
Interest cover: 3.42
Dividend yield: 1.08%
Dividend / share (TTM): ₹33.00
Payout: 20.27%
Cash conversion cycle: -12.4 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	58,188	54,982	52,100	46,106	45,529	42,599	41,470	37,924	37,218	35,452	35,299	34,436
	1,016	994.84	858.52	675.51	916.92	701.73	411.33	659.22	408.77	355.71	510.52	591.71
	51,943	49,615	46,561	41,192	41,280	39,114	37,097	34,309	33,330	32,172	32,143	31,680
	33,229	31,140	27,816	27,887	26,711	25,172	21,700	21,432	19,807	19,785	19,470	20,509
	2,378	2,336	2,223	2,044	2,067	1,856	2,020	1,945	1,823	1,575	1,948	1,892
	3,388	3,238	3,336	3,112	3,045	2,910	2,883	2,655	2,679	2,639	2,686	2,716
	2,560	2,407	2,405	2,347	2,431	2,397	2,362	2,217	2,108	1,989	1,945	1,835
	1,760	1,943	2,163	1,669	1,548	2,029	1,495	1,302	1,248	1,335	1,123	1,139
	7,902	7,696	6,511	5,955	5,922	6,009	5,227	5,453	5,134	5,495	4,867	5,057
	7,261	6,361	6,397	5,589	5,166	4,187	4,785	4,274	4,296	3,635	3,667	3,347
	0.00	0.00	-292.94	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	7,261	6,361	6,104	5,589	5,166	4,187	4,785	4,274	4,296	3,635	3,667	3,347
	1,631	1,654	1,547	2,094	1,268	1,085	1,468	1,379	1,075	905.06	935.16	1,084
	5,998	5,260	5,021	3,964	4,377	3,542	3,624	3,361	3,546	3,125	2,977	2,484
	48.80	41.77	41.85	32.90	36.58	29.52	28.51	28.43	29.44	24.71	23.86	21.07
Key metrics
	11,581	10,711	10,672	9,605	9,145	8,613	8,642	7,793	7,652	6,960	6,734	6,321
	19.90%	19.50%	20.50%	20.80%	20.10%	20.20%	20.80%	20.50%	20.60%	19.60%	19.10%	18.40%
	10.30%	9.60%	9.60%	8.60%	9.60%	8.30%	8.70%	8.90%	9.50%	8.80%	8.40%	7.20%
	—	4.40%	—	4.10%	—	3.50%	—	—	—	—	—	—
	27.80%	29.10%	25.60%	21.60%	22.30%	20.20%	17.50%	10.10%	—	—	—	—
	37.00%	48.50%	38.50%	17.90%	23.40%	13.30%	21.70%	35.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	2,11,375	1,98,639	1,59,211	1,39,078	1,21,269	90,171	74,278	95,179	1,04,721	93,265
	3,545	3,446	2,181	2,176	1,206	934.51	1,033	1,063	1,086	631.03
	1,89,312	1,78,572	1,43,850	1,26,398	1,11,170	84,013	70,082	93,656	98,526	87,306
	1,20,072	1,13,553	88,111	77,849	68,478	46,265	32,798	45,167	56,120	48,440
	8,982	8,670	7,644	7,221	7,542	6,399	5,474	6,566	5,962	5,017
	13,074	12,731	11,126	10,624	9,678	8,387	7,813	11,212	11,564	10,005
	9,720	9,591	9,083	7,488	5,830	5,018	6,102	6,065	5,021	3,987
	7,535	7,322	6,074	4,724	4,357	3,508	3,378	4,976	3,991	3,280
	28,064	26,006	21,824	19,914	17,318	15,453	14,542	19,156	19,052	16,820
	25,607	23,513	17,542	14,856	11,305	7,092	5,229	2,586	7,280	6,590
	-292.94	-292.94	0.00	0.00	1,250	414.17	-1,158	-1,974	224.32	2,628
	25,314	23,220	17,542	14,856	12,555	7,506	4,071	612.03	7,504	9,218
	6,926	6,563	5,006	3,708	2,686	2,109	1,646	1,976	2,854	2,368
	20,243	18,622	14,073	12,270	11,374	7,253	1,512	-321.00	6,017	7,958
	165.32	153.10	115.91	101.14	92.41	59.20	30.17	—	48.91	—
Key metrics
	42,569	40,133	32,699	27,068	22,741	16,032	13,551	11,653	16,516	16,485
	20.14%	20.20%	20.50%	19.50%	18.80%	17.80%	18.20%	12.20%	15.80%	17.70%
	9.58%	9.40%	8.80%	8.80%	9.40%	8.00%	2.00%	-0.30%	5.70%	8.50%
	—	16.30%	14.20%	—	—	—	—	—	—	—
	—	24.80%	14.50%	14.70%	34.50%	21.40%	-22.00%	-9.10%	12.30%	—
	—	32.30%	14.70%	7.90%	56.80%	379.60%	571.10%	-105.30%	-24.40%	—
	—	2,052	-7,216	—	—	—	—	—	—	—
	—	0.63	0.23	—	—	—	—	—	—	—
	—	1.18	1.36	—	—	—	—	—	—	—
	—	1,25,322	1,16,249	—	—	—	—	—	—	—
	—	-12.4	-5.1	—	—	—	—	—	—	—
Balance sheet
	—	3,17,635	2,77,586	—	—	—	—	—	—	—
	—	1,46,976	1,26,573	—	—	—	—	—	—	—
	—	4,292	4,924	—	—	—	—	—	—	—
	—	9,064	8,280	—	—	—	—	—	—	—
	—	22,044	20,331	—	—	—	—	—	—	—
	—	7,350	7,203	—	—	—	—	—	—	—
	—	29,012	25,835	—	—	—	—	—	—	—
	—	37,889	30,855	—	—	—	—	—	—	—
	—	1,16,099	90,322	—	—	—	—	—	—	—
	—	1,29,614	1,21,173	—	—	—	—	—	—	—
	—	56,145	41,466	—	—	—	—	—	—	—
	—	73,470	79,707	—	—	—	—	—	—	—
	—	1,09,491	89,098	—	—	—	—	—	—	—
Cash flow
	—	11,657	3,176	—	—	—	—	—	—	—
	—	-17,794	-18,626	—	—	—	—	—	—	—
	—	5,391	15,834	—	—	—	—	—	—	—
	—	9,605	10,392	—	—	—	—	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	41,959	39,601	38,942	35,080	34,143	31,609	30,964	28,919	27,133	25,436	25,642	25,773
	776.38	643.89	697.80	701.64	731.61	512.54	264.56	677.22	257.55	220.33	383.15	819.12
	37,959	35,364	34,339	29,712	30,403	28,776	27,260	24,666	23,984	23,006	22,905	22,225
	30,680	28,165	25,772	25,796	25,050	23,226	20,279	19,907	18,411	18,328	17,803	18,807
	1,385	1,458	1,362	1,276	1,174	1,195	1,116	1,120	1,152	999.54	958.61	1,077
	1,406	1,301	1,389	1,298	1,302	1,269	1,285	1,153	1,175	1,111	1,134	1,126
	99.73	71.52	63.15	58.99	55.92	81.02	61.42	55.13	52.90	38.68	34.82	32.93
	1,050	1,201	1,052	1,041	999.88	1,306	1,045	961.36	914.62	977.01	817.87	815.83
	2,709	2,569	2,490	2,035	2,125	2,891	2,058	2,007	1,902	2,311	1,852	1,738
	4,776	4,881	5,300	6,069	4,471	3,345	3,968	4,931	3,406	2,650	3,121	4,367
	0.00	0.00	-98.19	0.00	0.00	0.00	—	—	—	—	—	—
	4,776	4,881	5,202	6,069	4,471	3,345	3,968	4,931	3,406	2,650	3,121	4,367
	1,091	1,144	1,271	1,549	1,021	907.88	1,004	1,090	793.59	612.29	666.75	915.33
	3,685	3,737	3,931	4,521	3,450	2,437	2,964	3,841	2,613	2,038	2,454	3,452
	30.65	31.10	32.72	37.64	28.73	20.30	24.70	32.01	21.78	17.00	20.47	28.80
Key metrics
	5,926	6,153	6,317	7,169	5,527	4,732	5,074	5,947	4,374	3,666	3,973	5,216
	14.10%	15.50%	16.20%	20.40%	16.20%	15.00%	16.40%	20.60%	16.10%	14.40%	15.50%	20.20%
	8.80%	9.40%	10.10%	12.90%	10.10%	7.70%	9.60%	13.30%	9.60%	8.00%	9.60%	13.40%
	—	6.20%	—	8.50%	—	5.10%	—	—	—	—	—	—
	22.90%	25.30%	25.80%	21.30%	25.80%	24.30%	20.80%	12.20%	—	—	—	—
	6.80%	53.30%	32.60%	17.70%	32.00%	19.60%	20.80%	11.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	1,55,581	1,47,765	1,18,625	1,01,219	84,960	57,446	45,041	45,488	53,614	49,445
	2,820	2,775	1,712	1,938	2,545	2,076	1,221	1,668	1,689	1,036
	1,37,374	1,29,818	1,04,686	89,675	77,945	53,078	41,139	42,026	48,948	44,813
	1,10,414	1,04,784	81,822	71,553	62,226	40,506	25,036	22,874	27,095	23,265
	5,482	5,270	4,583	4,027	3,407	2,375	6,817	8,349	12,112	10,674
	5,395	5,290	4,881	4,416	3,650	3,306	2,859	2,880	2,980	2,841
	293.39	249.58	250.47	138.77	272.78	223.00	370.88	113.23	113.39	112.20
	4,343	4,293	4,227	3,439	3,154	2,451	2,233	2,223	1,860	1,479
	9,803	9,219	8,987	7,421	6,310	4,902	4,177	5,385	5,867	5,614
	21,027	20,722	15,650	13,483	9,560	6,444	5,124	5,130	6,355	5,669
	-98.19	-98.19	0.00	—	-1,430	-208.67	-3,663	-2,014	-29.73	433.61
	20,929	20,624	15,650	13,483	8,131	6,235	1,460	3,116	6,325	6,102
	5,055	4,985	3,795	2,765	1,582	1,300	1,192	1,785	1,529	1,746
	15,874	15,639	11,855	10,718	6,549	4,935	268.66	1,331	4,796	4,356
	132.11	130.18	98.80	89.42	54.70	41.28	2.25	11.16	40.29	—
Key metrics
	25,565	25,166	20,127	17,061	11,558	8,910	4,064	5,452	8,299	7,694
	16.43%	17.00%	17.00%	16.90%	13.60%	15.50%	9.00%	12.00%	15.50%	15.60%
	10.20%	10.60%	10.00%	10.60%	7.70%	8.60%	0.60%	2.90%	8.90%	8.80%
	—	26.00%	23.50%	—	—	—	—	—	—	—
	—	24.60%	17.20%	19.10%	47.90%	27.50%	-1.00%	-15.20%	8.40%	—
	—	31.90%	10.60%	63.70%	32.70%	1,737.00%	-79.80%	-72.30%	10.10%	—
	—	16,451	11,502	—	—	—	—	—	—	—
	—	1.46	1.40	—	—	—	—	—	—	—
	—	0.01	0.03	—	—	—	—	—	—	—
	—	295.31	417.40	—	—	—	—	—	—	—
	—	-31.4	-22.6	—	—	—	—	—	—	—
Balance sheet
	—	1,20,603	99,649	—	—	—	—	—	—	—
	—	59,191	47,664	—	—	—	—	—	—	—
	—	760.78	1,264	—	—	—	—	—	—	—
	—	6,486	5,726	—	—	—	—	—	—	—
	—	10,306	10,333	—	—	—	—	—	—	—
	—	4,223	4,186	—	—	—	—	—	—	—
	—	16,716	15,962	—	—	—	—	—	—	—
	—	29,500	23,406	—	—	—	—	—	—	—
	—	40,438	32,080	—	—	—	—	—	—	—
	—	1,056	1,682	—	—	—	—	—	—	—
	—	529.55	235.40	—	—	—	—	—	—	—
	—	526.54	1,446	—	—	—	—	—	—	—
	—	74,325	61,585	—	—	—	—	—	—	—
Cash flow
	—	22,758	16,617	—	—	—	—	—	—	—
	—	-19,733	-13,874	—	—	—	—	—	—	—
	—	-3,529	-3,355	—	—	—	—	—	—	—
	—	6,308	5,115	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +20.26%
Sales CAGR 5Y: +26.82%
Sales CAGR 10Y: —
Profit CAGR 3Y: +33.67%
Profit CAGR 5Y: +125.42%
Profit CAGR 10Y: —
Sales YoY (TTM): +23.84%
Profit YoY (TTM): +25.07%

Consolidated

Sales CAGR 3Y: +17.88%
Sales CAGR 5Y: +21.74%
Sales CAGR 10Y: —
Profit CAGR 3Y: +17.86%
Profit CAGR 5Y: +65.22%
Profit CAGR 10Y: —
Sales YoY (TTM): +26.18%
Profit YoY (TTM): +35.82%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 18.44%

Holder	Type	Holding	Previous	Change
PRUDENTIAL MANAGEMENT & SERVICES PRIVATE LIMITED	Promoter Group	10.81%	—	—
M&M BENEFIT TRUST (Anand Mahindra & Ranjan Pant -Trustees)	Promoter Group	6.91%	—	—
LIFE INSURANCE CORPORATION OF INDIA WITH SUB ACCOUNTS	Public	6.45%	—	—
MAHINDRA AND MAHINDRA EMPLOYEES STOCK OPTION TRUST	Public	3.37%	—	—
SBI NIFTY 50 ETF WITH SUB ACCOUNTS	Public	3.09%	—	—
ICICI PRUDENTIAL LARGE CAP FUND WITH SUB ACCOUNTS	Public	2.65%	—	—
NPS TRUST A/C UTI PENSION FUND LIMITED-SCHEME STATE GOVT WITH SUB ACCOUNTS	Public	2.48%	—	—
UTI NIFTY 50 ETF WITH SUB ACCOUNTS	Public	1.72%	—	—
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA ETF NIFTY 50 BEES WITH SUB ACCOUNTS	Public	1.55%	—	—
GOVERNMENT OF SINGAPORE	Public	1.48%	—	—
PARAG PARIKH FLEXI CAP FUND WITH SUB ACCOUNTS	Public	1.44%	—	—
SBI LIFE INSURANCE CO. LTD	Public	1.19%	—	—
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND	Public	1.11%	—	—
GOVERNMENT PENSION FUND GLOBAL	Public	1.07%	—	—
AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS LARGE CAP FUND WITH SUB ACCOUNTS	Public	1.07%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

The Credit Rating Release is attached18 Sep 2026 · Company Update / Credit Rating
Newspaper Publication regarding Notice of loss of Share Certificate(S).16 Sep 2026 · Company Update / Newspaper Publication
Please refer enclosed15 Sep 2026 · Company Update / Analyst / Investor Meet
Newspaper Publication regarding Special Window for Re-Lodgement of Transfer Request of Physical Shares.11 Sep 2026 · Company Update / Newspaper Publication
Please refer enclosed10 Sep 2026 · Company Update / Analyst / Investor Meet
Please find enclosed Production, Sales and Export figures of the Company for the month of August 20269 Sep 2026 · Company Update / General
Please refer enclosed file.7 Sep 2026 · Company Update / Credit Rating
Please refer to the enclosed file.4 Sep 2026 · Company Update / Analyst / Investor Meet
Please find enclosed3 Sep 2026 · Company Update / General
Please refer to the enclosed file.2 Sep 2026 · Company Update / Analyst / Investor Meet
Please find attached 3 Press Releases issued by the Company1 Sep 2026 · Company Update / Press Release / Media Release
Please refer enclosed file31 Aug 2026 · Company Update / General
Please refer enclosed file.28 Aug 2026 · Company Update / Press Release / Media Release
Please refer enclosed26 Aug 2026 · Company Update / Analyst / Investor Meet
Please refer enclosed20 Aug 2026 · Company Update / General
Please refer enclosed19 Aug 2026 · Company Update / Analyst / Investor Meet
Please refer enclosed file19 Aug 2026 · Company Update / General
Please refer enclosed18 Aug 2026 · Company Update / Analyst / Investor Meet
Newspaper Publication informing about the Transfer of (Ordinary) Equity Shares of the Company to the Investor Education and Protection Fund Authority.18 Aug 2026 · Company Update / Newspaper Publication
Please find attached the Press Release15 Aug 2026 · Company Update / Press Release / Media Release
Please find attached the Press Release14 Aug 2026 · Company Update / Press Release / Media Release
Intimation regarding sale of equity shares received by way of endowment contribution13 Aug 2026 · Company Update / General
Please refer enclosed13 Aug 2026 · Company Update / Analyst / Investor Meet
Please refer enclosed13 Aug 2026 · Company Update / Analyst / Investor Meet
Newspaper Publication regarding Notice of Loss of Share Certificates13 Aug 2026 · Company Update / Newspaper Publication
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Anand Global Mahindra13 Aug 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Intimation regarding endowment contribution of equity shares12 Aug 2026 · Company Update / General
Please refer enclosed10 Aug 2026 · Company Update / Analyst / Investor Meet
Please find enclosed Production, Sales and Export figures of the Company for the month of July 202610 Aug 2026 · Company Update / General
Please refer the updated covering letter file enclosed10 Aug 2026 · Company Update / Press Release / Media Release (Revised)
Please refer the updated covering letter file enclosed10 Aug 2026 · Company Update / General
Please refer the enclosed file10 Aug 2026 · Company Update / Press Release / Media Release
Please refer the enclosed file10 Aug 2026 · Company Update / General
Press release on appointment of Senior Management Personnel9 Aug 2026 · Company Update / Press Release / Media Release
Please refer the enclosed file9 Aug 2026 · Company Update / Change in Management
Please find enclosed7 Aug 2026 · Company Update / General
Please find enclosed the Mahindra Group''s Sustainability Report for the Financial Year 2025-267 Aug 2026 · Company Update / General
Please refer to the enclosed file.6 Aug 2026 · Company Update / General
Please refer enclosed4 Aug 2026 · Company Update / Earnings Call Transcript
Please refer enclosed file4 Aug 2026 · Company Update / General

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 33.0000	3 Jul 2026	3 Jul 2026	—
Dividend - Rs. - 25.3000	4 Jul 2025	4 Jul 2025	—
Final Dividend - Rs. - 21.1000	5 Jul 2024	—	—

Board meetings

30 Jul 2026 Board Meeting - Financial Results