Mahindra & Mahindra Limited

Automobile and Auto Components · Automobiles

NSE: M&M BSE: 500520

₹2950.00

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Automobiles

The largest companies in the same industry by market cap. This company ranks #2 of 18. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Maruti Suzuki India Limited	376,246	26.8	13.7%	-25.0%	1.17%	68	28	43
Mahindra & Mahindra Limited (this stock)	366,841	22.3	17.0%	-14.8%	1.12%	62	68	10
Bajaj Auto Limited	303,926	28.3	26.3%	26.1%	1.38%	87	42	28
Eicher Motors Limited	196,266	37.4	22.0%	1.8%	—	94	16	25
TVS Motor Company Limited	195,071	48.6	29.7%	18.7%	—	60	30	32
Hyundai Motor India Limited	165,027	33.9	27.1%	-20.0%	1.03%	80	2	30
Hero MotoCorp Limited	104,869	18.7	26.5%	-3.5%	3.53%	88	63	31
Tata Motors Passenger Vehicles Limited	104,401	1667.6	69.5%	-60.5%	1.06%	51	50	10

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹367,136 Cr

EV / EBITDA

14.4x

EV / Sales

2.36x

Market cap / Sales

2.36x

Earnings yield

4.48%

Quarterly Financials

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Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 42,735 Cr, up 22.5% YoY.

↑ Positive

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 3,685 Cr, up 6.8% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	41,959	4,776	3,685	₹30.6500
March 31, 2026	39,601	4,881	3,737	₹31.1000
Dec. 31, 2025	38,942	5,202	3,931	₹32.7200
Sept. 30, 2025	35,080	6,069	4,521	₹37.6400
June 30, 2025	34,143	4,471	3,450	₹28.7300
March 31, 2025	31,609	3,345	2,437	₹20.3000
Dec. 31, 2024	30,964	3,968	2,964	₹24.7000
Sept. 30, 2024	28,919	4,931	3,841	₹32.0100
June 30, 2024	27,133	3,406	2,613	₹21.7800
March 31, 2024	25,436	2,650	2,038	₹17.0000
Dec. 31, 2023	25,642	3,121	2,454	₹20.4700
Sept. 30, 2023	25,773	4,367	3,452	₹28.8000
June 30, 2023	24,368	3,345	2,774	₹23.1500

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	42,735	40,245	39,639	35,781	34,875	32,121	31,228	29,597	27,390	25,656	26,026	26,592	25,026
Operating revenue	41,959	39,601	38,942	35,080	34,143	31,609	30,964	28,919	27,133	25,436	25,642	25,773	24,368
Other income	776	644	698	702	732	513	265	677	258	220	383	819	658
Operating expenses	36,809	34,091	33,224	28,612	29,348	27,389	26,154	23,649	23,017	21,990	22,052	21,376	20,821
Operating profit	5,150	5,509	5,717	6,467	4,795	4,219	4,810	5,270	4,116	3,446	3,590	4,397	3,547
Operating profit margin	12.3%	13.9%	14.7%	18.4%	14.0%	13.3%	15.5%	18.2%	15.2%	13.5%	14.0%	17.1%	14.6%
Depreciation	1,050	1,201	1,052	1,041	1,000	1,306	1,045	961	915	977	818	816	828
Interest	100	72	63	59	56	81	61	55	53	39	35	33	32
Exceptional items, gain / (loss)	—	—	-98	—	—	—	—	—	—	—	—	—	—
Profit before tax	4,776	4,881	5,202	6,069	4,471	3,345	3,968	4,931	3,406	2,650	3,121	4,367	3,345
Tax	1,091	1,144	1,271	1,549	1,021	908	1,004	1,090	794	612	667	915	571
Net profit	3,685	3,737	3,931	4,521	3,450	2,437	2,964	3,841	2,613	2,038	2,454	3,452	2,774
EPS	30.65	31.10	32.72	37.64	28.73	20.30	24.70	32.01	21.78	17.00	20.47	28.80	23.15
Net profit (TTM)	15,874	15,639	14,339	13,372	12,692	11,855	11,456	10,946	10,557	10,718	10,229	9,303	7,941
EPS (TTM)	132.11	130.19	119.39	111.37	105.74	98.79	95.49	91.26	88.05	89.42	85.35	77.64	66.30

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	147,765	20,624	15,639
March 31, 2025	118,625	15,650	11,855
March 31, 2024	101,219	13,483	10,718
March 31, 2023	84,960	8,131	6,549

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	19.8%	26.6%	150,540^†	120,336^†	103,300^†	87,529^†	59,503^†	46,262^†	47,156^†	55,303^†	50,438^†	48,439^†
Operating revenue	20.3%	26.8%	147,765	118,625	101,219	84,960	57,431^†	45,041^†	45,488^†	53,614^†	49,403^†	47,096^†
Other income	—	—	2,775^†	1,712^†	2,080^†	2,568^†	2,072^†	1,221^†	1,668^†	1,689^†	1,035^†	1,343^†
Operating expenses	—	—	125,276^†	100,209^†	86,239^†	74,228^†	50,388^†	38,535^†	39,690^†	46,974^†	—	42,252^†
Operating profit	28.0%	28.2%	22,490^†	18,416^†	14,980^†	10,732^†	7,043^†	6,506^†	5,798^†	6,640^†	—	4,845^†
Operating profit margin	—	—	15.2%^†	15.5%^†	14.8%^†	12.6%^†	12.3%^†	14.4%^†	12.7%^†	12.4%^†	—	10.3%^†
Depreciation	—	—	4,293^†	4,227^†	3,439^†	3,124^†	2,451^†	2,233^†	2,223^†	1,860^†	—	1,327^†
Interest	—	—	250^†	250^†	139^†	272^†	223^†	371^†	113^†	113^†	111^†	133^†
Exceptional items, gain / (loss)	—	—	-98^†	0^†	0^†	-1,430^†	-209^†	-3,663^†	-2,014^†	-30^†	434^†	548^†
Profit before tax	36.4%	69.8%	20,624	15,650	13,483	8,131	6,232^†	1,460^†	3,116^†	6,325^†	6,127^†	5,188^†
Tax	—	—	4,985^†	3,795^†	2,765^†	1,595^†	1,300^†	1,192^†	1,785^†	1,529^†	1,754^†	1,232^†
Net profit	33.7%	125.4%	15,639	11,855	10,718	6,549	4,932^†	269^†	1,331^†	4,796^†	4,373^†	3,956^†
EPS	33.2%	125.0%	130.19^†	98.79^†	89.42^†	55.10^†	41.26^†	2.26^†	11.18^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	15.2%^†	15.5%^†	14.8%^†	12.6%^†	12.3%^†	14.4%^†	12.7%^†	12.4%^†	—	10.3%^†
EBIT margin	14.1%^†	13.4%^†	13.5%^†	9.9%^†	11.2%^†	4.1%^†	7.1%^†	12.0%^†	12.6%^†	11.3%^†
PBT margin	14.0%	13.2%	13.3%	9.6%	10.9%^†	3.2%^†	6.9%^†	11.8%^†	12.4%^†	11.0%^†
Net margin	10.6%	10.0%	10.6%	7.7%	8.6%^†	0.6%^†	2.9%^†	8.9%^†	8.9%^†	8.4%^†
Interest coverage	83.64x^†	63.48x^†	98.16x^†	30.91x^†	28.95x^†	4.94x^†	28.52x^†	56.78x^†	56.06x^†	40.13x^†
Dividend payout	19.4%^†	21.4%^†	18.2%^†	21.0%^†	21.2%^†	104.0%^†	76.0%^†	—	—	—
Earnings retention	80.6%^†	78.6%^†	81.8%^†	79.0%^†	78.8%^†	-4.0%^†	24.0%^†	—	—	—
Current ratio	1.46x	1.49x	—	—	—	—	—	—	—	—
Quick ratio	1.21x	1.16x	—	—	—	—	—	—	—	—
Debt to equity	0.01x	0.03x	—	—	—	—	—	—	—	—
Return on equity	21.0%	19.2%	—	—	—	—	—	—	—	—
Return on assets	13.0%	11.9%	—	—	—	—	—	—	—	—
Return on capital employed	26.0%^†	23.5%^†	—	—	—	—	—	—	—	—
Asset turnover	1.23x	1.19x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	22,758	-19,733	-3,529	6,308	16,451
March 31, 2025	16,617	-13,874	-3,355	5,115	11,502
March 31, 2024	11,279	-5,183	-5,538	5,029	6,250
March 31, 2023	9,129	-4,753	-3,784	4,354	4,775
March 31, 2022	7,094	-4,359	-2,885	3,247	3,847

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	120,603	74,325	73,724	530	527	59,191	40,438	761	16,716	10,306
March 31, 2025	99,649	61,585	60,985	235	1,446	47,664	32,080	1,264	15,962	10,333
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.