Mahindra & Mahindra enterprise value

Share price at each year-end

Tap a line for its trend	Currentlast 12M	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus


3,20,729	—	—	—	—	FY22 and earlierEvery year the company has filed comes with Alpha Plus.
25,097	25,097	26,871	18,165	17,759
16,395	16,395	12,059	11,319	10,716
1,29,615	1,29,615	1,21,173	1,03,203	92,247
4,41,641	—	—	—	—
1,04,517	1,04,517	94,302	85,038	74,488
₹3,951.83	—	—	—	—

2,39,106	2,39,106	2,10,271	1,80,713	1,59,329
54.2%	54.2%	57.6%	57.1%	57.9%
0.29×	—	—	—	—

2.09×	—	—	—	—
11.23×	—	—	—	—
13.90×	—	—	—	—
215.23×	—	—	—	—
2,11,375	1,98,639	1,59,211	1,39,078	1,21,269
39,317	36,980	30,518	24,892	20,285
31,782	29,658	24,445	20,168	15,928
—	11,657	3,176	−5,630	−7,074
2,052	2,052	−7,216	−15,576	−13,379
—	1,955	−7,341	−15,725	−13,536
—	9,605	10,392	9,946	6,305

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

alphave

M&M₹2,869.90

Mahindra & Mahindra Ltd.

· Auto & Mobility

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HighlightsEnterprise Value Multiples Per 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 Investments	17,759.3	18,164.7	26,871.4	25,097.1	25,097.1
+ Minority Interest	10,716.3	11,318.8	12,059.1	16,394.7	16,394.7
+ Total Debt	92,246.9	1,03,203.2	1,21,173.0	1,29,614.5	1,29,614.5
Enterprise Value	—	—	—	—	4,41,640.6
Net Debt (memo)	74,487.5	85,038.5	94,301.6	1,04,517.4	1,04,517.4
EV per Share	—	—	—	—	3,951.83

Total Capital	1,59,329.0	1,80,712.6	2,10,271.0	2,39,105.5	2,39,105.5
Total Debt/Total Capital	57.90	57.11	57.63	54.21	54.21
Total Debt/EV	—	—	—	—	0.29

EV/Sales	—	—	—	—	2.09
EV/EBITDA	—	—	—	—	11.23
EV/EBIT	—	—	—	—	13.90
EV/Free Cash Flow	—	—	—	—	215.23
Reference Items — Trailing FY Values
Sales	1,21,268.6	1,39,078.3	1,59,210.8	1,98,638.6	2,11,374.9
EBITDA	20,285.3	24,891.9	30,518.2	36,979.9	39,317.0
EBIT	15,928.5	20,168.2	24,444.5	29,657.9	31,782.1
Operating Cash Flow	-7,074.0	-5,630.0	3,175.8	11,657.4	—
Free Cash Flow	-13,378.6	-15,575.9	-7,216.1	2,051.9	2,051.9
FCFF (free cash flow to the firm)	-13,535.7	-15,724.9	-7,340.6	1,954.7	—
Capital Expenditure	6,304.6	9,946.0	10,392.0	9,605.5	—

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%.