MAHINDRA & MAHINDRA LTD (M&M) financials

MAHINDRA & MAHINDRA LTD (M&M) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

Market Cap: ₹3,55,798Cr.
Current Price: ₹2,861
Stock P/E: 21.8
ROE: 23.1%
ROCE: 30.1%
Book Value: ₹598
Dividend Yield: 1.15%
52W High / Low: ₹3,840/2,743

In Jun 2026, MAHINDRA & MAHINDRA LTD (M&M) reported sales ₹41,959 Cr and net profit ₹3,685 Cr.

Annual TTM: sales ₹155,581 Cr, net profit ₹15,874 Cr.

Shareholding: Promoters 18.39% (Sep 2026), FIIs 33.34% (Sep 2026), DIIs 34.19% (Sep 2026), Government 0.14% (Sep 2026), Public 10.50% (Sep 2026).

M&M quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	28,919	30,964	31,609	34,143	35,080	38,942	39,601	41,959
Expenses	23,649	26,070	26,671	29,199	28,560	32,849	33,990	36,809
Operating Profit	5,270	4,894	4,938	4,944	6,520	6,092	5,611	5,150
OPM %	18%	16%	16%	14%	19%	16%	14%	12%
Other Income	677	181	-206	583	649	225	542	776
Interest	55	61	81	56	59	63	72	100
Depreciation	961	1,045	1,306	1,000	1,041	1,052	1,201	1,050
Profit before tax	4,931	3,968	3,345	4,471	6,069	5,202	4,881	4,776
Tax %	22%	25%	27%	23%	26%	24%	23%	23%
Net Profit	3,841	2,964	2,437	3,450	4,521	3,931	3,737	3,685
EPS in Rs	30.89	23.84	19.60	27.74	36.35	31.61	30.05	29.63
Raw PDF	—	—	—	—	—	—	—	—

M&M profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	45,488	44,630	57,787	86,645	101,336	118,625	147,765	155,581
Expenses	39,690	37,672	50,759	74,581	86,206	100,209	125,270	132,208
Operating Profit	5,798	6,957	7,027	12,064	15,130	18,416	22,495	23,373
OPM %	13%	16%	12%	14%	15%	16%	15%	15%
Other Income	-346	-1,888	1,845	-506	1,956	1,712	2,671	2,192
Interest	113	396	226	273	140	250	250	293
Depreciation	2,223	2,370	2,498	3,154	3,488	4,227	4,293	4,343
Profit before tax	3,116	2,303	6,148	8,131	13,458	15,650	20,624	20,929
Tax %	57%	57%	21%	19%	21%	24%	24%	—
Net Profit	1,331	984	4,870	6,549	10,642	11,855	15,639	15,874
EPS in Rs	10.70	7.92	39.17	52.66	85.58	95.33	125.76	127.64
Dividend Payout %	21%	106%	28%	30%	24%	26%	25%	—

M&M balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	596	597	597	598	599	600	600	601
Reserves	33,613	33,871	34,354	37,600	42,758	51,692	60,985	73,724
Borrowings	2,571	3,027	7,786	6,743	5,026	2,051	1,682	1,653
Other Liabilities	15,916	13,007	18,827	21,665	27,398	29,367	36,382	44,624
Total Liabilities	52,697	50,502	61,564	66,606	75,780	83,709	99,649	120,603
Fixed Assets	10,082	10,395	12,011	14,904	16,976	17,805	19,651	19,688
CWIP	2,420	4,009	6,125	5,263	2,785	3,763	3,905	5,308
Investments	22,016	19,938	21,783	24,204	27,087	29,207	35,468	42,032
Other Assets	18,179	16,160	21,645	22,235	28,932	32,934	40,625	53,575
Total Assets	52,697	50,502	61,564	66,606	75,780	83,709	99,649	120,603

M&M cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	4,924	3,678	9,594	6,977	9,129	11,474	16,617	22,758
Cash from Investing Activity	-2,549	-2,576	-14,564	-3,961	-4,753	-5,361	-13,874	-19,733
Cash from Financing Activity	-1,555	-1,015	3,514	-3,166	-3,784	-5,547	-3,355	-3,529
Net Cash Flow	820	86	-1,456	-150	593	566	-612	-504
Free Cash Flow	1,892	-266	6,282	3,685	5,698	6,628	11,968	16,680
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	96%	82%	154%	108%	92%	95%	109%	123%

M&M shareholding pattern (%)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters	18.48%	18.45%	18.43%	18.43%	18.43%	18.45%	18.44%	18.39%
FIIs	38.92%	38.30%	38.53%	38.04%	37.49%	36.23%	34.89%	33.34%
DIIs	29.22%	29.77%	29.57%	29.95%	30.39%	31.37%	32.58%	34.19%
Government	0.07%	0.08%	0.08%	0.08%	0.12%	0.21%	0.13%	0.14%
Public	9.66%	9.78%	9.77%	9.93%	10.03%	10.25%	10.47%	10.50%
Others	3.63%	3.60%	3.58%	3.55%	3.52%	3.50%	3.47%	3.45%
No. of Shareholders	8,55,175	8,95,699	8,64,189	8,81,154	8,85,061	9,41,478	9,89,776	9,94,602

M&M key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	27	24	18	19	17	16	18	16
Inventory Days	37	39	58	51	50	48	44	34
Days Payable	92	78	129	111	97	92	99	97
Cash Conversion Cycle	-29	-15	-53	-41	-30	-27	-38	-47
Working Capital Days	-19	-18	-51	-27	-23	-16	-26	-35
ROCE %	18%	14%	14%	15%	21%	26%	27%	30%

M&MUpdated 24 Oct 2026, 11:29

Mahindra & Mahindra Ltd

M&MUpdated 24 Oct 2026, 11:29

Market Cap

₹3,55,798Cr.

Current Price

₹2,861

High / Low

₹3,840/2,743

Stock P/E

21.8

ROE23.1%

ROCE30.1%

Book Value₹598

Face Value₹5.00

Dividend Yield1.15%

About

Mahindra & Mahindra Ltd is one of the most diversified automobile company in India with presence across 2-wheelers, 3-wheelers, PVs, CVs, tractors & earthmovers.It also has presence across financial services, auto components, hospitality, infrastructure, retail, logistics, steel trading and processing, IT businesses, agri, aerospace, consulting services, defence, energy and industrial equipmentthrough its subsidiaries and group companies.It was incorporated in 1945 by Ghulam Mohammad and two Mahindra Brothers (KC & JC Mahindra) and was later renamed as Mahindra & Mahindra in 1948.[1]

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	24403	33	20852	663	840	3341	17	2759	22.19
Sep 2023	25762	33	21270	691	828	4322	21	3393	27.29
Dec 2023	25737	35	22088	387	831	3170	21	2490	20.02
Mar 2024	25434	40	22006	224	988	2624	24	2000	16.08
Jun 2024	27133	53	23017	258	915	3406	23	2613	21.01
Sep 2024	28919	55	23649	677	961	4931	22	3841	30.89
Dec 2024	30964	61	26070	181	1045	3968	25	2964	23.84
Mar 2025	31609	81	26671	-206	1306	3345	27	2437	19.6
Jun 2025	34143	56	29199	583	1000	4471	23	3450	27.74
Sep 2025	35080	59	28560	649	1041	6069	26	4521	36.35
Dec 2025	38942	63	32849	225	1052	5202	24	3931	31.61
Mar 2026	39601	72	33990	542	1201	4881	23	3737	30.05
Jun 2026	41959	100	36809	776	1050	4776	23	3685	29.63

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	38445	214	34271	1185	975	4169	20	3321	26.74
Mar 2016	40875	186	36255	919	1068	4284	25	3205	25.8
Mar 2017	44054	160	39539	1894	1526	4723	23	3643	29.33
Mar 2018	48686	112	42462	1470	1479	6102	29	4356	35.04
Mar 2019	53614	113	46974	1659	1860	6325	24	4796	38.58
Mar 2020	45488	113	39690	-346	2223	3116	57	1331	10.7
Mar 2021	44630	396	37672	-1888	2370	2303	57	984	7.92
Mar 2022	57787	226	50759	1845	2498	6148	21	4870	39.17
Mar 2023	86645	273	74581	-506	3154	8131	19	6549	52.66
Mar 2024	101336	140	86206	1956	3488	13458	21	10642	85.58
Mar 2025	118625	250	100209	1712	4227	15650	24	11855	95.33
Mar 2026	147765	250	125270	2671	4293	20624	24	15639	125.76
TTM	155581	293	132208	2192	4343	20929	—	15874	127.64

Shareholding pattern

As of Sep 2026%

Holder	Share
Promoters	18.39%
FIIs	33.34%
DIIs	34.19%
Government	0.14%
Public	10.5%
Others	3.45%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Government	Public	Others
Dec 2023	19.33%	40.86%	26.26%	0.07%	9.71%	3.77%
Mar 2024	18.58%	41.75%	26.13%	0.07%	9.7%	3.75%
Jun 2024	18.55%	41.9%	26.18%	0.07%	9.57%	3.73%
Sep 2024	18.53%	41.18%	27.04%	0.07%	9.44%	3.69%
Dec 2024	18.48%	38.92%	29.22%	0.07%	9.66%	3.63%
Mar 2025	18.45%	38.3%	29.77%	0.08%	9.78%	3.6%
Jun 2025	18.43%	38.53%	29.57%	0.08%	9.77%	3.58%
Sep 2025	18.43%	38.04%	29.95%	0.08%	9.93%	3.55%
Dec 2025	18.43%	37.49%	30.39%	0.12%	10.03%	3.52%
Mar 2026	18.45%	36.23%	31.37%	0.21%	10.25%	3.5%
Jun 2026	18.44%	34.89%	32.58%	0.13%	10.47%	3.47%
Sep 2026	18.39%	33.34%	34.19%	0.14%	10.5%	3.45%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2015	296	18959	3728	9961	32945	5929	2179	13138	11698	32945
Mar 2016	296	22127	2917	10159	35500	7596	1562	13547	12794	35500
Mar 2017	297	26489	2851	10332	39968	7771	2040	17908	12248	39968
Mar 2018	595	29699	2958	14195	47447	7859	3129	20583	15876	47447
Mar 2019	596	33613	2571	15916	52697	10082	2420	22016	18179	52697
Mar 2020	597	33871	3027	13007	50502	10395	4009	19938	16160	50502
Mar 2021	597	34354	7786	18827	61564	12011	6125	21783	21645	61564
Mar 2022	598	37600	6743	21665	66606	14904	5263	24204	22235	66606
Mar 2023	599	42758	5026	27398	75780	16976	2785	27087	28932	75780
Mar 2024	600	51692	2051	29367	83709	17805	3763	29207	32934	83709
Mar 2025	600	60985	1682	36382	99649	19651	3905	35468	40625	99649
Mar 2026	601	73724	1653	44624	120603	19688	5308	42032	53575	120603

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	3219	-2423	-1585	-788
Mar 2016	5470	-3538	-2007	-75
Mar 2017	3971	-3221	-1056	-305
Mar 2018	7027	-5110	-1033	884
Mar 2019	4924	-2549	-1555	820
Mar 2020	3678	-2576	-1015	86
Mar 2021	9594	-14564	3514	-1456
Mar 2022	6977	-3961	-3166	-150
Mar 2023	9129	-4753	-3784	593
Mar 2024	11474	-5361	-5547	566
Mar 2025	16617	-13874	-3355	-612
Mar 2026	22758	-19733	-3529	-504

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	24	22	24	24	27	24	18	19	17	16	18	16
Inventory Days	32	33	31	29	37	39	58	51	50	48	44	34
Days Payable	70	83	78	92	92	78	129	111	97	92	99	97
Cash Conversion Cycle	-14	-27	-23	-39	-29	-15	-53	-41	-30	-27	-38	-47
Working Capital Days	-25	-26	-19	-28	-19	-18	-51	-27	-23	-16	-26	-35
ROCE %	18%	18%	16%	18%	18%	14%	14%	15%	21%	26%	27%	30%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of MAHINDRA & MAHINDRA LTD (M&M)?

The reported market capitalisation for MAHINDRA & MAHINDRA LTD (M&M) is ₹3,55,798Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of M&M?

The current price shown for MAHINDRA & MAHINDRA LTD (M&M) on Fincrux is ₹2,861 with a 52-week high/low of ₹3,840/2,743.

What is the P/E ratio of MAHINDRA & MAHINDRA LTD (M&M)?

The stock P/E for MAHINDRA & MAHINDRA LTD (M&M) is 21.8 on Fincrux, with ROE at 23.1% and ROCE at 30.1%.

What were M&M latest quarterly results?

For Jun 2026, MAHINDRA & MAHINDRA LTD (M&M) reported sales ₹41,959 Cr and net profit ₹3,685 Cr (figures in ₹ crore unless noted).

What are M&M annual sales and net profit?

For TTM, MAHINDRA & MAHINDRA LTD (M&M) shows sales of ₹155,581 Cr and net profit of ₹15,874 Cr on the Fincrux profit & loss statement.

Who owns MAHINDRA & MAHINDRA LTD (M&M)?

Latest shareholding for MAHINDRA & MAHINDRA LTD (M&M) on Fincrux: Promoters 18.39% (Sep 2026), FIIs 33.34% (Sep 2026), DIIs 34.19% (Sep 2026), Government 0.14% (Sep 2026), Public 10.50% (Sep 2026).

Where can I find MAHINDRA & MAHINDRA LTD (M&M) financials?

MAHINDRA & MAHINDRA LTD (M&M) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show M&M balance sheet and cash flow?

Yes. The MAHINDRA & MAHINDRA LTD (M&M) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 24 October 2026 at 11:29