1. India Stocks

  2. •

    Consumer Cyclical

  3. •

    Auto - Manufacturers
Mahindra & Mahindra Ltd.

Mahindra & Mahindra Ltd.

MHID.L
Mahindra & Mahindra Ltd.GB flagLondon Stock Exchange
35.10
USD
+1.90
- -
43.64BMarket Cap
Mahindra & Mahindra Ltd.
MHID.L
(London Stock Exchange)

Recent

price

35.10

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
319.94
442.55
520.25
566.18
535.57
692.13
758.2
836.4
947.87
672.77
655.14
796.08
1,069.91
1,218.88
1,423.2
1,771
1,498.19
Revenue per Share
27.55
26.59
34.75
39.53
26.56
29.15
34.16
69.2
48.91
1.15
16.34
59.2
92.41
101.14
115.91
153.1
123.04
Basic EPS, GAAP
-28.03
-27.86
-35.72
-33.11
-31.36
-16.55
-44.74
-48.14
-107.54
-75.63
107.44
28.87
-120.24
-139.8
-64.69
18.37
- -
Free Cash Flow per Basic Share
6.42
7.66
8.46
9.27
10.16
8.63
7.13
7.79
8.63
10.28
2.38
8.83
11.55
16.25
21.05
25.26
- -
Dividend per Share
2.55
83.54
106.52
127.6
146.68
180.5
199.65
261.39
288.01
284.87
308.49
357.63
438.1
523.04
614.7
5
- -
Book Value per Share
134.98
153.19
186.26
218.27
219.72
261.2
286.6
342.87
361.45
344.82
392.02
441.45
517.23
594.26
678.22
847.68
- -
Tangible Book Value per Share
1,152
1,176
1,180
1,181
1,181
1,080
1,082
1,085
1,087
1,104
1,109
1,111
1,113
1,114
1,115
1,117
1,116
Basic Weighted Avg Shares
368,638
520,373
613,640
668,456
632,631
747,618
820,689
907,704
1,030,152
743,041
726,790
884,404
1,190,404
1,358,030
1,587,498
1,977,928
1,671,756
Sales/Revenue/Turnover
16.09
0.16
2.9
4.12
1.15
10.22
9.65
10.96
10.89
13.22
14.18
12.64
13.43
14.44
15.13
14.86
14.95
Operating Margin (%)
10,095
18,032
20,846
21,750
21,276
24,723
29,415
32,799
39,908
49,763
33,671
35,027
43,287
45,363
60,736
73,220
63,734
Depreciation Expense
31,748
31,267
40,992
46,669
31,375
31,484
36,980
75,104
53,155
1,270
18,125
65,773
102,815
112,686
129,291
170,988
137,298
Net Income, GAAP
29.17
33.65
34.67
25.71
39.88
37.33
36.21
22.93
32.17
42.14
30.78
22.53
19.1
23.21
26.24
26.06
25.86
Effective Tax Rate (%)
8.61
6.01
6.68
6.98
4.96
4.21
4.51
8.27
5.16
0.17
2.49
7.44
8.64
8.3
8.14
8.64
8.21
Profit Margin (%)
49,440
70,674
80,931
120,361
55,793
72,677
89,553
99,265
106,627
100,359
206,919
188,597
207,460
227,200
362,513
310,411
- -
Working Capital
120,524
160,399
198,603
254,918
211,210
235,988
301,245
338,092
435,262
522,980
549,066
510,576
579,099
705,336
828,773
771,218
- -
LT Debt
186,207
212,290
252,577
290,400
291,929
324,128
360,949
450,257
483,440
476,610
506,522
568,253
670,821
775,093
890,980
1,094,910
- -
Total Equity
14.2
0.14
2.37
3.47
0.73
8
6.82
8.24
6.9
4.56
5.46
6.52
8.8
8.76
8.89
9.48
- -
Return on Invested Capital (%)
23.07
15.37
13.04
12.23
8.88
9
8.45
11.88
7.82
3.43
5.1
7.74
9.9
9.7
9.68
12.72
17.68
Return on Capital (%)
1,101.26
61.81
36.62
33.78
19.37
17.1
17.99
30.06
17.82
0.4
5.52
17.79
23.24
21.06
20.39
49.47
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
420,720
- -
LT Borrowings
- -
797,072
- -
LT Finance Leases
- -
31,701
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
1,200
- -
Market Capitalization
3,379,695
2,955,191
3,501,378

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
1,265,733
- -
Cash, Cash Equivalents & STI
- -
418,725
- -
Accounts Receivable, Net
- -
82,797
- -
Inventories
- -
203,309
- -
Total Current Liabilities
- -
903,220
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
420,720
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.2%
16.72%
22.89%
Free Cash Flow
-72.45%
-151.17%
-128.44%
Net Income, GAAP
169.62%
75.16%
32.25%
Sales/Revenue/Turnover
11.57%
22.37%
24.59%
Total Cash Common Dividend
34.03%
78.54%
20.1%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
334,064
342,812
352,183
328,971
1,358,030
2025
370,101
376,890
414,650
425,857
1,587,498
2026
454,359
515,800
548,916
- -
1,977,928

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
31.5
21.07
23.86
- -
101.14
2025
29.44
28.43
28.51
29.52
115.91
2026
36.58
41.85
41.77
- -
153.1

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
16.25
2025
- -
- -
- -
- -
21.05
2026
- -
- -
- -
- -
25.26
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Business
Mahindra & Mahindra Limited (M&M) is a multinational automotive manufacturing company that designs, develops, manufactures, and markets a wide range of vehicles, tractors, and related products; its core offerings include utility vehicles such as the Scorpio, XUV700, and Thar SUVs, passenger cars under the Marazzo and Bolero brands, commercial vehicles including light and heavy trucks, buses, and three-wheelers; tractors across various horsepower categories under the Mahindra tractor brand, farm equipment like harvesters and implements; construction equipment such as backhoe loaders, excavators, and motor graders; and aftermarket services including spare parts and maintenance solutions. The company operates through key segments including automotive, farm equipment, services, and defense, serving individual consumers, farmers, fleet operators, governments, and enterprises; it maintains a global footprint with manufacturing facilities and sales in over 100 countries across Asia, Africa, North America, Latin America, Europe, and Australia. Founded in 1945 and headquartered in Mumbai, India, M&M is the flagship company of the Mahindra Group, which encompasses subsidiaries like Mahindra & Mahindra Financial Services, Tech Mahindra, and Swaraj Engines. In recent developments, M&M launched the new BE 6e and XE 7e electric SUVs under its Born Electric platform in late 2024, marking a significant expansion into the electric vehicle market with fast-charging capabilities and advanced features; the company acquired a 100% stake in Dhaksha Unmanned Systems in 2024 to bolster its aerospace and defense capabilities, focusing on unmanned systems and eVTOL technologies. Additionally, M&M announced a strategic partnership with Volkswagen Group's PowerCo in 2024 for localized production of LFP battery cells in India, aiming to support its EV growth and reduce import dependency; in 2025, it expanded its Last Mile Electric Vehicle (LMEV) portfolio with the e-Alfa Plus model, targeting urban mobility and commercial fleets amid India's push for green transportation. These initiatives reflect M&M's shift toward sustainable mobility, with investments exceeding INR 37,000 crore planned for EVs, semiconductor manufacturing, and defense over the next three years.