Mahindra & Mahindra financials

Latest results Q1 FY27 · Apr–Jun 2026
Revenue
₹58,188cr+27.8% on Q1 FY26
Net profit
₹5,998cr+37.0% on Q1 FY26
EBITDA margin
18.2%+0.1 pts on Q1 FY26
EPS
₹48.80+33.4% on Q1 FY26

Quarterly results

Every quarter ›
₹ croreQ1 FY27Q1 FY26Change
Revenue58,18845,529+27.8%
EBITDA10,5658,228+28.4%
EBITDA margin18.2%18.1%+0.1 pts
Profit before tax7,2615,166+40.5%
Net profit5,9984,377+37.0%
EPS₹48.80₹36.58+33.4%

Over time

Q1 FY27 · Apr–Jun 2026latest
Revenue₹58,188 crNet profit₹5,998 crNet margin10.3%

Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.

Key numbersby financial year

₹ crore except per share
Tap a line for its trendCurrentlast 12MFY26Mar 2026FY25Mar 2025FY24Mar 2024FY23Mar 2023FY22 and earlierAlpha Plus
3,20,729————
FY22 and earlierEvery year the company has filed comes with Alpha Plus.
25,09725,09726,87118,16517,759
16,39516,39512,05911,31910,716
1,29,6151,29,6151,21,1731,03,20392,247
4,41,641————
2,11,3751,98,6391,59,2111,39,0781,21,269
—+24.8%+14.5%+14.7%—
39,31736,98030,51824,89220,285
18.6%18.6%19.2%17.9%16.7%
31,78229,65824,44520,16815,928
20,24318,62214,07312,27011,374
9.6%9.4%8.8%8.8%9.4%
₹165.27₹153.00₹115.69₹100.83₹92.00
—+32.3%+14.7%+9.6%—
—11,6573,176−5,630−7,074
—−9,605−10,392−9,946−6,305
2,0522,052−7,216−15,576−13,379
Open the chart

From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

M&M₹2,869.90

Mahindra & Mahindra Ltd.

· Auto & Mobility
₹ CrorePeersMARUTIESCORTSBAJAJ-AUTOEICHERMOTTMPVMOTHERSONBOSCHLTDTVSMOTORMcap ₹3.21L Cr
HighlightsEnterprise ValueMultiplesPer ShareAnnuals · FY-end closes
In ₹ Crore except Per Share
12 Months Ending
FY23
31/03/2023
FY24
31/03/2024
FY25
31/03/2025
FY26
31/03/2026
Current/LTM
TTM · last close
Market Capitalization————3,20,728.5
- Cash, Equiv & ST Investments17,759.318,164.726,871.425,097.125,097.1
+ Minority Interest10,716.311,318.812,059.116,394.716,394.7
+ Total Debt92,246.91,03,203.21,21,173.01,29,614.51,29,614.5
Enterprise Value————4,41,640.6
Revenue1,21,268.61,39,078.31,59,210.81,98,638.62,11,374.9
Growth %, YoY—+14.7+14.5+24.8—
EBITDA20,285.324,891.930,518.236,979.939,317.0
Margin %16.7317.9019.1718.6218.60
EBIT15,928.520,168.224,444.529,657.931,782.1
Net Income11,374.512,269.814,073.218,621.720,242.7
Margin %9.388.828.849.379.58
EPS, Adj (current shares)92.00100.83115.69153.00165.27
Growth %, YoY—+9.6+14.7+32.3—
Cash from Operations-7,074.0-5,630.03,175.811,657.4—
Capital Expenditures-6,304.6-9,946.0-10,392.0-9,605.5—
Free Cash Flow-13,378.6-15,575.9-7,216.12,051.92,051.9
Market Cap/EV/multiples pair each (split/bonus-adjusted) FY-end close with the latest filed share count; Current column uses the last close. Market Capitalization is a market-level figure — identical across Consolidated/Standalone (the accounting rows below differ). No consensus estimates → no Est columns. Click any row to chart it.
« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave
Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 240%.

M&M financials and key ratios

Prices at the 29 October 2026 close · figures from the company's filings with NSE

Mahindra & Mahindra (NSE: M&M) had a market capitalisation of ₹3,23,073 crore at the 29 October 2026 close (₹2,890.00 a share), a PE ratio of 17.5 on the last four quarters' profit and a price-to-book ratio of 3.47. In FY26 its consolidated net profit attributable to shareholders was ₹17,099 crore on revenue of ₹1,98,639 crore; in Q1 FY27 (April–June 2026) it was ₹5,455 crore, up 33.6% year on year. Its debt-to-equity ratio was 1.18 on 31 March 2026. Promoters held 18.39% of the shares on 30 September 2026.

Share price used
₹2,890.00 · 29 October 2026 close
Latest balance sheet
31 March 2026
Shareholding pattern
30 September 2026
Share price and live chart
₹2,890.00 · 29 Oct close

M&M at a glance · consolidated

Market cap
₹3,23,073 Crat ₹2,890.00 · 29 Oct close
PE ratio (last 4 quarters)
17.518.9 on FY26 profit
Price to book (PB)
3.47book value ₹832.78 a share
ROE (FY26)
20.1%+2.1 pts vs FY25ROCE 15.3%
Debt to equity
1.18net debt ₹76,831 Cr
Promoter holding
18.39%−0.1 pts vs 30 Jun 202630 September 2026
Dividend yield
1.14%₹33 a share in 12 months
Net worth
₹93,096 Cr+20.8% vs 31 Mar 202531 March 2026
Free cash flow (FY26)
₹2,052 Cr

Questions

What is the M&M PE ratio today?

M&M's PE ratio is 17.5 at the 29 October 2026 close (₹2,890.00 a share): a market capitalisation of ₹3,23,073 crore divided by consolidated net profit attributable to shareholders of ₹18,470 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit attributable to shareholders (₹17,099 crore) it is 18.9.

What is the M&M PB ratio (price to book value)?

M&M's price-to-book (PB) ratio is 3.47 at the 29 October 2026 close: a market capitalisation of ₹3,23,073 crore divided by shareholders' equity (book value) of ₹93,096 crore on 31 March 2026. That is a book value of ₹832.78 per share against a share price of ₹2,890.00.

What is the M&M net worth?

M&M's net worth — shareholders' equity in its consolidated balance sheet — was ₹93,096 crore on 31 March 2026, up 20.8% from ₹77,039 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹3,23,073 crore at the 29 October 2026 close.

What is the M&M market cap?

M&M's market capitalisation was ₹3,23,073 crore (₹3.23 lakh crore) at the 29 October 2026 close: 111.79 crore shares at ₹2,890.00 each.

What is the M&M EPS?

M&M's basic earnings per share (EPS) were ₹153.10 in FY26, against ₹115.91 in FY25. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹165.32.

What is the M&M dividend in 2026 and its record date?

In 2026, M&M has declared one dividend: ₹33 with record date 3 July 2026.

Is M&M debt free?

No. M&M had borrowings of ₹1,29,615 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 1.18. Its cash and current investments were ₹52,783 crore, so its net debt was ₹76,831 crore.

What is the M&M debt to equity ratio?

M&M's debt-to-equity ratio was 1.18 on 31 March 2026: borrowings of ₹1,29,615 crore against total equity of ₹1,09,491 crore. A year earlier, on 31 March 2025, it was 1.36.

What is the M&M dividend yield?

M&M's dividend yield is 1.14% at the 29 October 2026 close: dividends of ₹33 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹2,890.00. They were ₹33 on 3 July 2026.

What is the M&M ROE and ROCE?

In FY26, M&M's return on equity (ROE) was 20.1% and its return on capital employed (ROCE) was 15.3%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 18.1% and ROCE 14.1%.

What is the M&M book value per share?

M&M's book value per share was ₹832.78 on 31 March 2026: shareholders' equity of ₹93,096 crore divided by the 111.79 crore shares in issue, up 20.7% from ₹690.13 a year earlier. The share price at the 29 October 2026 close was ₹2,890.00.

What is the M&M shareholding pattern?

On 30 September 2026, M&M's shares were held by promoters 18.39%, foreign portfolio investors (FII/FPI) 33.35%, domestic institutions (DII) 34.24% (including mutual funds at 19.00%) and retail and other non-institutional investors 10.50%. Over the year, FII holding was down 4.69 percentage points from 38.04% and DII holding was up 4.28 percentage points from 29.96%.

What is the M&M promoter holding?

Promoters held 18.39% of M&M on 30 September 2026, down 0.06 percentage points from 18.45% the previous quarter and down 0.05 percentage points from 18.44% a year earlier, according to the shareholding pattern filed with NSE.

What is the M&M free cash flow?

In FY26, M&M generated ₹11,657 crore of cash from operations and spent ₹9,605 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹2,052 crore. In FY25 it was −₹7,216 crore.

What are the M&M latest quarterly results?

M&M's latest results are for Q1 FY27 (April–June 2026), filed on 30 July 2026: consolidated net profit attributable to shareholders ₹5,455 crore, up 33.6% from ₹4,083 crore in Q1 FY26; revenue from operations ₹58,188 crore, up 27.8% year on year.

What is the M&M revenue and profit in FY26?

In FY26 (April 2025–March 2026), M&M's consolidated net profit attributable to shareholders was ₹17,099 crore, up 32.3% from ₹12,929 crore in FY25, on revenue from operations of ₹1,98,639 crore (up 24.8%). Over three years, from FY23, net profit was up 66.3%.

When are the M&M next results?

M&M will announce its Q2 FY27 results (July–September 2026) on Thursday, 5 November 2026, the date of the board meeting it has notified to the exchanges.

How does the M&M PE ratio compare with its peers?

At the 29 October 2026 closing prices, on FY26 net profit attributable to shareholders, M&M's PE ratio is 18.9, the third highest of the four: Maruti Suzuki 24.5, Escorts Kubota 12.2 and Bajaj Auto 26.6, a peer average of 21.1. Each is the company's market capitalisation at that price divided by its FY26 net profit.

How does M&M compare with its peers?

On FY26 consolidated figures, against Maruti Suzuki, Escorts Kubota and Bajaj Auto: M&M's operating margin of 14.9% is the second highest of the four (Maruti Suzuki 8.0%, Escorts Kubota 10.8%, Bajaj Auto 19.7%; peer average 12.8%); its return on equity of 20.1% is the third highest of the four (Maruti Suzuki 14.4%, Escorts Kubota 21.1%, Bajaj Auto 29.0%; peer average 21.5%); its revenue growth over three years of 17.9% a year is the second highest of the four (Maruti Suzuki 16.0% a year, Escorts Kubota 11.0% a year, Bajaj Auto 19.9% a year; peer average 15.6% a year).

M&M vs Maruti Suzuki: how do they compare?

In FY26, M&M earned net profit attributable to shareholders of ₹17,099 crore on revenue of ₹1,98,639 crore, against ₹14,680 crore on ₹1,83,316 crore for Maruti Suzuki. M&M's operating margin was 14.9% (Maruti Suzuki 8.0%) and its return on equity 20.1% (Maruti Suzuki 14.4%). At the 29 October 2026 close, M&M's market capitalisation was ₹3,23,073 crore against ₹3,59,233 crore for Maruti Suzuki, and its PE ratio on FY26 profit 18.9 against 24.5.

Where do these M&M figures come from?

From Mahindra & Mahindra's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.

Consolidated figures from the company's filings with NSE; prices are NSE closing prices.