Mahindra & Mahindra Financial Services Limited

BSE: M&MFIN532720ISIN INE774D01024

Financial Services
Non Banking Financial Company (NBFC)
BSE 200

BSE listing

Share price

₹353.95+8.15 (+2.36%)

as of 18 Sep 2026

52W high: ₹415.00
52W low: ₹269.60
Off 52W high: -14.71%
1M return: -9.14%
3M return: +20.35%
6M return: +14.84%
1Y return: +23.72%
20D avg volume: 3,24,801
50 DMA: ₹371.02
200 DMA: ₹344.97

Key ratios Consolidated

Market cap: ₹49,198 Cr
Current price: ₹353.95
52W high / low: ₹415.00 / ₹269.60
Face value: ₹2.00
P/E: 15.09
P/B: —
EPS (TTM): ₹23.45
Book value / share: —
ROE: —
ROCE: —
Operating margin: —
Net margin: —
Debt / equity: 2.91
Net debt: ₹77,147 Cr
Interest cover: 1.42
Dividend yield: 2.12%
Dividend / share (TTM): ₹7.50
Payout: 31.98%
Cash conversion cycle: —

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q4 FY24	Q4 FY18	Q3 FY18	Q2 FY18	Q1 FY18
Income statement
	5,718	5,539	5,450	5,026	4,991	4,886	—	2,497	2,182	1,979	1,875
	6.90	20.79	14.48	23.26	22.83	11.21	—	9.56	12.81	6.43	11.54
	4,505	4,317	4,245	4,306	4,330	4,303	—	1,694	1,663	1,810	1,795
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	672.89	641.41	631.48	602.56	634.17	608.14	—	351.29	287.72	259.52	258.61
	2,372	2,220	2,236	2,198	2,280	2,218	—	869.71	873.38	855.12	828.11
	99.14	110.10	96.18	93.93	85.87	84.52	—	15.10	13.85	12.88	13.38
	409.68	425.05	414.31	371.34	357.07	409.68	—	295.76	265.47	212.97	222.28
	1,220	1,243	1,219	743.30	683.43	593.61	—	813.03	531.91	175.11	90.95
	0.00	0.00	-132.95	0.00	0.00	0.00	—	0.00	50.74	0.00	0.00
	1,220	1,243	1,087	743.30	683.43	593.61	—	813.03	582.65	175.11	90.95
	314.74	318.59	278.92	192.66	174.62	153.28	—	299.91	211.39	68.81	30.19
	927.48	940.48	825.60	566.07	528.96	456.19	—	513.11	371.26	106.30	60.76
	6.66	6.75	5.93	4.06	4.06	3.70	—	—	—	—	—
Key metrics
	—	—	—	—	—	—	—	1,698	1,470	1,043	932.44
	—	—	—	—	—	—	—	68.00%	67.30%	52.70%	49.70%
	16.20%	17.00%	15.10%	11.30%	10.60%	9.30%	—	20.50%	17.00%	5.40%	3.20%
	14.60%	13.40%	—	—	—	—	—	—	—	—	—
	75.30%	106.20%	—	—	—	—	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY18
Income statement
	21,733	21,005	18,463	—	8,533
	65.43	81.36	67.36	—	40.35
	17,372	17,198	15,569	—	6,962
	0.00	0.00	0.00	—	—
	0.00	0.00	0.00	—	—
	2,548	2,510	2,355	—	1,157
	9,026	8,934	8,415	—	3,426
	399.35	386.08	321.21	—	55.21
	1,620	1,568	1,347	—	996.48
	4,426	3,889	2,962	—	1,611
	-132.95	-132.95	0.00	—	50.74
	4,293	3,756	2,962	—	1,662
	1,105	964.79	766.04	—	610.30
	3,260	2,861	2,261	—	1,051
	23.40	20.88	18.32	—	—
Key metrics
	—	—	—	—	5,143
	—	—	—	—	60.30%
	15.00%	13.60%	12.20%	—	12.30%
	—	13.80%	—	—	—
	—	26.50%	—	—	—
	—	-13,188	-16,044	—	—
	—	-4.46	-6.90	—	—
	—	2.91	3.33	—	—
	—	77,147	69,923	—	—
Balance sheet
	—	1,58,644	1,44,105	—	—
	—	465.45	1,830	—	—
	—	325.74	246.69	—	—
	—	0.00	0.00	—	—
	—	1,075	1,027	—	—
	—	77,612	71,754	—	—
	—	26,692	21,573	—	—
Cash flow
	—	-12,772	-15,602	—	—
	—	769.52	-1,077	—	—
	—	10,637	17,605	—	—
	—	416.27	441.89	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q4 FY24	Q3 FY19	Q2 FY19	Q1 FY19	Q4 FY18	Q3 FY18
Income statement
	4,972	4,800	4,754	4,473	4,419	4,241	—	2,223	2,103	1,926	2,060	1,834
	1.83	10.11	9.63	16.57	18.38	4.29	—	23.70	45.10	13.84	13.81	12.41
	3,788	3,649	3,575	3,742	3,744	3,489	—	1,727	1,593	1,527	1,405	1,390
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	559.69	519.76	520.34	490.90	523.17	497.58	—	271.59	240.98	263.44	262.43	205.15
	2,208	2,071	2,103	2,066	2,152	2,090	—	1,019	936.66	848.76	755.00	762.89
	89.44	99.09	85.50	83.19	74.90	72.67	—	15.17	14.48	13.27	11.75	10.71
	339.64	367.12	351.47	316.60	305.14	345.34	—	196.53	169.33	108.17	218.56	212.35
	1,186	1,161	1,188	747.53	693.33	755.66	—	519.70	555.80	412.20	668.83	456.31
	0.00	0.00	-117.33	0.00	0.00	0.00	—	—	—	—	—	64.97
	1,186	1,161	1,070	747.53	693.33	755.66	—	519.70	555.80	412.20	668.83	521.28
	287.57	288.36	259.99	178.22	163.83	192.52	—	201.04	174.41	143.15	244.31	179.30
	898.65	872.98	810.44	569.31	529.50	563.14	—	318.65	381.39	269.05	424.52	341.98
	6.47	6.28	5.83	4.10	4.07	4.56	—	5.18	—	—	—	—
Key metrics
	—	—	—	—	—	—	—	1,553	1,507	1,274	1,436	1,295
	—	—	—	—	—	—	—	69.90%	71.60%	66.20%	69.70%	70.60%
	18.10%	18.20%	17.00%	12.70%	12.00%	13.30%	—	14.30%	18.10%	14.00%	20.60%	18.60%
	12.50%	13.20%	—	—	—	—	—	21.20%	—	—	—	—
	69.70%	55.00%	—	—	—	—	—	-6.80%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY18
Income statement
	18,998	18,446	16,019	—	7,147
	38.14	54.69	55.74	—	59.02
	14,754	14,710	12,927	—	5,898
	0.00	0.00	0.00	—	—
	0.00	0.00	0.00	—	—
	2,091	2,054	1,903	—	851.76
	8,448	8,392	7,898	—	3,000
	357.22	342.68	273.42	—	44.19
	1,375	1,340	1,137	—	775.40
	4,283	3,790	3,147	—	1,308
	-117.33	-117.33	0.00	—	64.97
	4,166	3,673	3,147	—	1,373
	1,014	890.40	802.23	—	480.86
	3,151	2,782	2,345	—	891.88
	22.68	20.35	18.99	—	—
Key metrics
	—	—	—	—	4,417
	—	—	—	—	61.80%
	16.59%	15.10%	14.60%	—	12.50%
	—	15.10%	—	—	—
	—	18.60%	—	—	—
	—	-11,596	-15,707	—	—
	—	-4.03	-6.52	—	—
	—	3.00	3.52	—	—
	—	73,849	68,068	—	—
Balance sheet
	—	1,47,905	1,35,548	—	—
	—	391.22	1,667	—	—
	—	86.12	53.02	—	—
	—	0.00	0.00	—	—
	—	939.31	876.38	—	—
	—	74,240	69,735	—	—
	—	24,759	19,812	—	—
Cash flow
	—	-11,206	-15,281	—	—
	—	1,109	-1,011	—	—
	—	8,821	17,648	—	—
	—	390.85	425.10	—	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Sales CAGR 10Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): —
Profit YoY (TTM): —

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Sales CAGR 10Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): —
Profit YoY (TTM): —

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: 52.49%

Holder	Type	Holding	Previous	Change
MAHINDRA & MAHINDRA LIMITED	Promoter	52.49%	—	—
Life Insurance Corporation of India, LIC-P&GS Fund, LICI Funds	Public	10.26%	—	—
HDFC Mutual Fund Multiple Accounts	Public	5.65%	—	—
SBI Mutual Fund Multiple Accounts	Public	4.77%	—	—
HDFC Life Insurance Company Limited	Public	2.24%	—	—
SBI Life Insurance Company Limited	Public	1.41%	—	—
Bandhan Mutual Fund Multiple Accounts	Public	1.17%	—	—
Ashish Dhawan	Public	1.05%	—	—
Sundaram Mutual Fund Multiple Accounts	Public	1.02%	—	—
Mahindra Knowledge Park Mohali Limited	Promoter Group	0.00%	—	—
Mahindra Industrial Park Private Limited (formerly known as Industrial Cluster Private Limited)	Promoter Group	0.00%	—	—
Mahindra Hotels and Residences India Limited	Promoter Group	0.00%	—	—
Holiday Club Canarias Resort Management S.L.U	Promoter Group	0.00%	—	—
Mahindra Automotive Australia Pty. Ltd.	Promoter Group	0.00%	—	—
Marvel Solren Private Limited	Promoter Group	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

Please find enclosed.17 Sep 2026 · Company Update / Analyst / Investor Meet
Please find enclosed.15 Sep 2026 · Company Update / Analyst / Investor Meet
Please find enclosed15 Sep 2026 · Company Update / General
Re-affirmation of Credit Ratings8 Sep 2026 · Company Update / Credit Rating
Schedule of Investor Conference5 Sep 2026 · Company Update / Analyst / Investor Meet
Allotment of Equity Shares to Mahindra & Mahindra Financial Services Limited Employees'' Stock Option Trust3 Sep 2026 · Company Update / Allotment of ESOP / ESPS
ESG Rating3 Sep 2026 · Company Update / General
Transfer of Equity Shares from Mahindra & Mahindra Financial Services Limited Employee Stock Option Trust to eligible persons.28 Aug 2026 · Company Update / General
Schedule of Investor Conference27 Aug 2026 · Company Update / Analyst / Investor Meet
Schedule of Investor Conference12 Aug 2026 · Company Update / Analyst / Investor Meet
Schedule of Investor Conference10 Aug 2026 · Company Update / Analyst / Investor Meet
Reaffirmation of Credit Ratings7 Aug 2026 · Company Update / Credit Rating
Outcome of Board Meeting - Scheme of Merger5 Aug 2026 · Company Update / Scheme of Arrangement
ESG Rating29 Jul 2026 · Company Update / General
Earnings Call Transcript - Q1 FY2727 Jul 2026 · Company Update / Earnings Call Transcript
Certificate under Regulation 74(5) of SEBI (DP) Regulation, 201824 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Scrutinizer''s report of 36th AGM along with voting results23 Jul 2026 · AGM/EGM / AGM
Scrutinizer''s report of the 36th AGM along with voting results23 Jul 2026 · AGM/EGM / AGM
Newspaper Publication-Extract of Financial Result-Q1 FY202722 Jul 2026 · Company Update / Newspaper Publication
Link for Audio Recording- Q1 FY2027 for Earnings Conference call21 Jul 2026 · Company Update / Analyst / Investor Meet
Proceedings of 36th Annual General Meeting21 Jul 2026 · AGM/EGM / AGM
Credit Rating21 Jul 2026 · Company Update / Credit Rating
Earnings Presentation - Q1 FY202721 Jul 2026 · Company Update / Investor Presentation
Press Release - Financial Results for Q1 FY202721 Jul 2026 · Company Update / Press Release / Media Release
Financial Results for the quarter ended 30th June 202621 Jul 2026 · Result / Financial Results
Outcome of board meeting- Unaudited Standalone and Consolidated Financial Results of the Company for the First Quarter ended 30th June 2026.21 Jul 2026 · Result / Financial Results
Outcome of Board Meeting - Unaudited Standalone and Consolidated Financial Results of the Company for the first quarter ended 30th June 202621 Jul 2026 · Board Meeting / Outcome of Board Meeting
ESG Ratings15 Jul 2026 · Company Update / General
Schedule of Earnings Conference Call - Q1 FY 2714 Jul 2026 · Company Update / Analyst / Investor Meet
Credit Rating10 Jul 2026 · Company Update / Credit Rating
Credit Rating7 Jul 2026 · Company Update / Credit Rating
Credit Rating2 Jul 2026 · Company Update / Credit Rating
Quarterly Business Update - Q1 FY272 Jul 2026 · Company Update / Monthly Business Updates
Transfer of Equity Shares from Mahindra & Mahindra Financial Services Limited Employees Stock Option Trust to eligible persons.30 Jun 2026 · Company Update / General
Mahindra & Mahindra Financial Services Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 21/07/2026 ,inter alia, to consider and approve the ....30 Jun 2026 · Board Meeting / Board Meeting
Trading Window will be closed from 01st July 2026 to 23rd July 2026 (both days inclusive) for the purpose of consideration and approval of Unaudited Financial Results for the quarter ended ....30 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Letter to Member and Debenture holders of the Company providing web-link and QR Code, to access the Notice of the 36th Annual General Meeting and Integrated Annual Report for FY 2025-26.27 Jun 2026 · Company Update / General
Newspaper Advertisement - Notice of 36th Annual General Meeting and e-voting information published today i.e. 27th June 2026.27 Jun 2026 · Company Update / Newspaper Publication
Business Responsibility and Sustainability Report for the financial year 2025-2625 Jun 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Notice of 36th Annual General Meeting and Integrated Annual Report for the financial year 2025-2625 Jun 2026 · Others / Reg. 34 (1) Annual Report

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 7.5000	13 Jul 2026	13 Jul 2026	—
Final Dividend - Rs. - 6.5000	15 Jul 2025	15 Jul 2025	—
Right Issue of Equity Shares	14 May 2025	14 May 2025	—
Final Dividend - Rs. - 6.3000	16 Jul 2024	—	—

Board meetings

21 Jul 2026 Board Meeting - Financial Results