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NSE:M&M

MAHINDRA & MAHINDRA LTD

Automobile and Auto Components › Automobiles·NIFTY 100NIFTY 200NIFTY 50NIFTY 500+6
₹2,869.90
at close · 28 Oct 2026
▲ 11.50 (+0.40%)
ThemesSolar Energy· growingBatteries & Energy Storage· announced

Latest filings

Next results: Thu, 5 Nov · Financial Results
  1. Mahindra transfers 30,600 shares to ESOP grantees · Compliance
  2. Stake in NDET diluted to 49.63%; NDET ceases to be step-down subsidiary · Ownership Changes
  3. Newspaper Notice on Loss of Share Certificate(s) · Compliance
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Designs, manufactures and sells vehicles under the Mahindra brand, with Automotive contributing 73.9% of segment revenue and Farm Equipment another 24.6%. The Automotive business is anchored in SUVs (Scorpio, Thar, Bolero, the new XUV7XO and the XUV.e/EV Origin electric SUVs) and also includes light commercial vehicles under 3.5T, three-wheelers and exports. Farm Equipment makes tractors, with FY26 tractor volumes crossing 5 lakh units. The Industrial Businesses and Consumer Services segment covers the group's smaller listed stakes (aerospace, logistics, real estate via Mahindra Lifespace and others) and accounts for 1.4% of segment revenue. The Truck and Bus Division, which had FY26 revenue of Rs 2,989 crore, is being divested to listed subsidiary SML Mahindra for Rs 525 crore under a slump sale. The biggest cost line is materials at 57.2% of revenue, followed by other operating expenses at 13.1% and employee cost at 6.4%.

Revenue mix · reported segments
Automotive73.9%
Farm Equipment24.6%
Investments in Industrial Businesses and Consumer Services1.4%
Farm Investments0.1%
Auto Investments0.0%
Operating scale
Tractor market share (FY26)
43.6% (highest ever)FY26
SUV sales (July 2026, domestic)
60,048 units, +20% YoYJuly FY27
Tractor sales (July 2026, domestic)
32,643 units, +21% YoYJuly FY27
EV revenue market share
#1 at 37.7% in Q4 FY26Q4 FY26
EV volume market share
31.4% (#2)FY26
Planned total SUV capacity by FY27 year-end
82,000 (60,000 ICE + 8,000 existing EV + 14,000 new EV)FY27 end
Who pays it
Individual passenger vehicle buyers (SUVs, EVs, three-wheelers), farmers buying tractors, commercial buyers of light commercial vehicles, and export markets
Biggest cost
Materials at 57.2% of revenue (FY26)
Kind of business
Cyclical, asset-heavy automaker with a large tractor business that typically carries stronger margins than the auto core
Where it sits
India's largest tractor maker by share (43.6% in FY26) and SUV portfolio leader whose new XUV7XO is selling at roughly 9,500 units a month at full capacity; #1 revenue market share in passenger EVs in Q4 FY26
Market Cap
₹3.45 L Cr
P / E (TTM)
17.4×
EV / EBITDA
11.1×
Div Yield
0.98%
Growth
21.7%▲
Revenue 5y CAGR
PAT +65.2% · EBITDA +24.3%
Quality
13.9%▲
ROCE (5y median)
ROE 15.8% (5y median) · margin 20.2%
Leverage
1.18·
Debt / Equity · moderate
Net debt ₹1.25 L Cr
Revenue FY21→FY26
2.7×▲
Margin +7.3 pts
₹74,278 Cr → ₹1.99 L Cr
Cash conversion
0.18×▼
Operating cash ÷ profit · 5 yrs
₹11,377 Cr on ₹63,592 Cr
Moves on a normal day
1.01%·
Median daily move
Last 268 sessions · the yardstick for filing-day moves
Where it sits among 20 Automobiles peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#4/16
P/B#7/17
ROCE#10/20
ROE#8/17
Debt / Equity#16/17
EBITDA margin#3/17
Revenue growth#9/16
Profit growth#5/17

Scorecard

Measured from the filed financials, judged against its Automobiles peers · as of FY26 — not investment advice

Strengths
Revenue compounding 22% a year over 5 years
Profit compounding 65% a year over 5 years
Profit grew in every one of the last 5 years
Negative working-capital cycle — the business is funded by its suppliers
Concerns
Carries more debt than its peers — 1.18× equity
higher than 94% of its 17 Automobiles peers
Over 5 years it reported ₹63,592 Cr of profit and ₹11,377 Cr of operating cash — 0.18×
Less than 60p of every ₹1 of profit arrived as cash
EPS grew slower than profit — the share count rose (bonus or dilution)

Charts

How has the market priced it — with filings on the timeline?

M&M · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from MAHINDRA & MAHINDRA LTD's filed financials and exchange disclosures

What does MAHINDRA & MAHINDRA LTD do?

MAHINDRA & MAHINDRA LTD is a Automobiles company listed on NSE and BSE, trading under the symbol M&M.

Is MAHINDRA & MAHINDRA LTD profitable?

Yes. Over the trailing twelve months MAHINDRA & MAHINDRA LTD reported a net profit of ₹20,243 Cr on revenue of ₹2.11 L Cr.

Does MAHINDRA & MAHINDRA LTD pay a dividend?

Yes. The dividend yield is 0.98% at the current price. It paid out 18% of its profit as dividend in FY26.

Is MAHINDRA & MAHINDRA LTD debt-free?

No. It reported borrowings of ₹1.30 L Cr on its 31 Mar 2026 balance sheet, or net debt of ₹1.25 L Cr after cash. Debt stands at 1.18× equity. That is higher than 94% of its 17 Automobiles peers.

Is MAHINDRA & MAHINDRA LTD expensive compared with its peers?

On trailing P/E, MAHINDRA & MAHINDRA LTD ranks 4 of 16 in Automobiles — cheaper than 80% of them, against an industry median of 28.0×. This is a position, not a valuation judgement.

How much does the MAHINDRA & MAHINDRA LTD share price move in a day?

On a typical session MAHINDRA & MAHINDRA LTD moves 1.01% — that is the median absolute close-to-close move across its last 268 trading days. MarketPing measures each filing's price reaction against it.

When are MAHINDRA & MAHINDRA LTD's next results?

Financial Results on Thu, 5 Nov. MarketPing alerts you on WhatsApp the moment the filing lands.

Where can I track MAHINDRA & MAHINDRA LTD's announcements?

Every NSE and BSE filing by MAHINDRA & MAHINDRA LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.