Credit Rating4 Nov 2026 · 19:43
Mahindra & Mahindra Limited has informed the Exchange about Credit Rating
Markets / Nifty 50 / Automobile and Auto Components
Price
Daily closing prices, adjusted for bonuses and splits
Returns against the Nifty 50
| Return | 1W | 1M | 3M | 6M | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|---|---|
| M&M | +3.2% | +3.6% | −14.3% | −10.3% | −17.3% | +101.6% | +239.3% |
| Nifty 50 | +5.6% | +6.2% | −2.7% | −1.5% | −6.4% | +24.6% | +33.7% |
Price returns, without dividends. Source: NSE end-of-day data.
Check-up
Where M&M sits against the Nifty 50 and its industry. Facts, not advice.
Price return
−17.29%
Over 1 year. The Nifty 50 returned −6.40%, so M&M trailed it by 10.9 percentage points.
Valuation (PE)
19.9
Price is 19.9 times the last four quarters' earnings per share, higher than the Nifty 50's PE of 19.8 and the 4 industry peers' median of 25.2.
Growth
+27.8%
Revenue in Q1 FY27 compared with the same quarter a year earlier. Net profit changed +33.6%.
Profitability (ROE)
19.8%
Profit over the last four quarters as a share of shareholders' equity. Net margin is 8.7%.
Debt
1.39×
Borrowings are 1.39 times shareholders' equity (latest balance sheet, 31 Mar 2026).
Volatility
1.94×
Daily price moves over the last year were 1.94 times as large as the Nifty 50's (annualised volatility 26.8%).
What the latest numbers show
Calculated by stockER from the company's filings and NSE data.
Positives 5
- Revenue up 27.8% from a year ago₹58,188 cr in Q1 FY27, against ₹45,529 cr in Q1 FY26.
- Net profit up 37.0% from a year ago₹5,998 cr in Q1 FY27, against ₹4,377 cr in Q1 FY26.
- Net margin widened to 10.3%From 9.6% in Q1 FY26.
- Operating cash flow of ₹11,657 crCash generated by the business in the year to 31 Mar 2026.
- Mutual fund holding up 2.65 points in a year19.00% on 30 Sep 2026, from 16.35%.
Watch points 2
- Borrowings rose 7.0% in a year₹1,29,614 cr on 31 Mar 2026, against ₹1,21,173 cr a year earlier.
- Foreign institutional holding down 4.69 points in a year33.35% on 30 Sep 2026, from 38.04%.
Financials
Consolidated results as filed with NSE. ₹ crore unless stated.
Revenue
Net profit
EPS (₹)
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 37,924 | 41,470 | 42,599 | 45,529 | 46,106 | 52,100 | 54,982 | 58,188 |
| Other income | 659 | 411 | 702 | 917 | 676 | 859 | 995 | 1,016 |
| Total expenses | 34,309 | 37,097 | 39,114 | 41,280 | 41,192 | 46,561 | 49,615 | 51,943 |
| EBITDA | 7,793 | 8,642 | 8,613 | 9,145 | 9,605 | 10,672 | 10,711 | 11,581 |
| Depreciation | 1,302 | 1,495 | 2,029 | 1,548 | 1,669 | 2,163 | 1,943 | 1,760 |
| Finance cost | 2,217 | 2,362 | 2,397 | 2,431 | 2,347 | 2,405 | 2,407 | 2,560 |
| PBIT | 6,491 | 7,147 | 6,584 | 7,597 | 7,936 | 8,509 | 8,769 | 9,821 |
| Profit before tax | 4,274 | 4,785 | 4,187 | 5,166 | 5,589 | 6,104 | 6,361 | 7,261 |
| Tax | 1,379 | 1,468 | 1,085 | 1,268 | 2,094 | 1,547 | 1,654 | 1,631 |
| Net profit | 3,361 | 3,624 | 3,542 | 4,377 | 3,964 | 5,021 | 5,260 | 5,998 |
| EPS (₹) | 28.43 | 28.51 | 29.52 | 36.58 | 32.90 | 41.85 | 41.77 | 48.80 |
| ₹ crore | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue from operations | 1,21,269 | 1,39,078 | 1,59,211 | 1,98,717 |
| Other income | 1,206 | 2,265 | 2,181 | 3,446 |
| Total expenses | 1,11,170 | 1,26,487 | 1,43,850 | 1,78,650 |
| EBITDA | 22,741 | 27,068 | 32,699 | 40,133 |
| Depreciation | 4,357 | 4,724 | 6,074 | 7,322 |
| Finance cost | 5,830 | 7,488 | 9,083 | 9,591 |
| PBIT | 18,384 | 22,345 | 26,626 | 32,811 |
| Profit before tax | 12,555 | 14,856 | 17,542 | 23,220 |
| Tax | 2,686 | 3,708 | 5,006 | 6,563 |
| Net profit | 11,374 | 12,270 | 14,073 | 18,622 |
| ₹ crore | SEP 2023 | MAR 2024 | SEP 2024 | MAR 2025 | SEP 2025 | MAR 2026 |
|---|---|---|---|---|---|---|
| Total assets | 2,20,773 | 2,36,301 | 2,55,280 | 2,77,586 | 2,92,930 | 3,17,635 |
| Current assets | 96,025 | 98,240 | 1,12,861 | 1,26,573 | 1,34,552 | 1,46,976 |
| Inventories | 17,844 | 18,590 | 19,765 | 20,331 | 24,588 | 22,044 |
| Cash and equivalents | 3,753 | 4,530 | 3,794 | 4,924 | 2,945 | 4,292 |
| Total liabilities | 1,49,730 | 1,58,791 | 1,73,430 | 1,88,488 | 1,94,838 | 2,08,144 |
| Current liabilities | 73,566 | 75,546 | 86,035 | 90,322 | 99,798 | 1,16,099 |
| Borrowings | 99,712 | 1,03,203 | 1,13,269 | 1,21,173 | 1,22,655 | 1,29,614 |
| Shareholders' equity | 71,043 | 77,509 | 81,850 | 89,098 | 98,092 | 1,09,491 |
| Equity attributable to owners | 60,486 | 66,191 | 70,502 | 77,039 | 82,844 | 93,096 |
Balance sheets are filed every half year (September and March).
| ₹ crore | 6M to SEP 2022 | 12M to MAR 2025 | 6M to SEP 2025 | 12M to MAR 2026 |
|---|---|---|---|---|
| From operations | −5,129 | 3,176 | 1,203 | 11,657 |
| From investing | −2,147 | −18,626 | −2,579 | −17,794 |
| From financing | 7,714 | 15,834 | −651 | 5,391 |
| Capital expenditure | 2,995 | 10,392 | 3,957 | 9,605 |
| Free cash flow | −8,124 | −7,216 | −2,754 | 2,052 |
Cash flow statements are filed every half year; figures are for the period shown.
EBITDA here is profit before tax plus finance cost and depreciation. Annual figures add up the four quarters of each financial year. Source: company filings on NSE (XBRL).
Peers
Automobile and Auto Components companies in the Nifty 50.
| Company | Price | Market cap | PE | PB | ROE | Div. yield | 1Y return |
|---|---|---|---|---|---|---|---|
| Mahindra & Mahindra Ltd.M&M | ₹2,961.90 | ₹3.68 lakh cr | 19.9 | 3.96 | 19.8% | 1.11% | −17.3% |
| Maruti Suzuki India Ltd.MARUTI | ₹11,995.00 | ₹3.77 lakh cr | 28.0 | 3.46 | 12.3% | 1.17% | −22.0% |
| Bajaj Auto Ltd.BAJAJ-AUTO | ₹10,608.00 | ₹2.92 lakh cr | 22.3 | 7.96 | 35.7% | 1.41% | +21.2% |
| Eicher Motors Ltd.EICHERMOT | ₹7,420.00 | ₹2.04 lakh cr | 35.3 | 8.12 | 23.0% | 1.11% | +7.1% |
| Tata Motors Passenger Vehicles Ltd.TMPV | ₹278.50 | ₹1.03 lakh cr | 1.3 | 0.92 | 70.7% | 1.08% | −31.5% |
Price comparison
Change in price from the start of the period
M&MNifty 50MARUTIBAJAJ-AUTO
Events
Dividends, bonuses and splits from NSE's corporate actions.
Dividend paid in 5 of the last 5 calendar years (2022–2026)Over the last 12 months: ₹33.00 per share (adjusted for bonuses and splits), a yield of 1.11% at today's price.
Past dividends
Dividend
Dividend - Rs 33 Per SharePer share
₹33.00Ex-date
3 Jul 2026
Dividend - Rs 33 Per SharePer share
₹33.00Ex-date
3 Jul 2026
Dividend
Dividend - Rs 25.30 Per SharePer share
₹25.30Ex-date
4 Jul 2025
Dividend - Rs 25.30 Per SharePer share
₹25.30Ex-date
4 Jul 2025
Dividend
Annual General Meeting/Dividend - Rs 21.10 Per SharePer share
₹21.10Ex-date
5 Jul 2024
Annual General Meeting/Dividend - Rs 21.10 Per SharePer share
₹21.10Ex-date
5 Jul 2024
Dividend
Annual General Meeting/Dividend - Rs 16.25 Per SharePer share
₹16.25Ex-date
14 Jul 2023
Annual General Meeting/Dividend - Rs 16.25 Per SharePer share
₹16.25Ex-date
14 Jul 2023
Dividend
Annual General Meeting/Dividend - Rs 11.55 Per SharePer share
₹11.55Ex-date
14 Jul 2022
Annual General Meeting/Dividend - Rs 11.55 Per SharePer share
₹11.55Ex-date
14 Jul 2022
Dividend
Annual General Meeting/Dividend - Rs 8.75 Per SharePer share
₹8.75Ex-date
15 Jul 2021
Annual General Meeting/Dividend - Rs 8.75 Per SharePer share
₹8.75Ex-date
15 Jul 2021
Dividend
Annual General Meeting/Dividend - Rs 2.35 Per SharePer share
₹2.35Ex-date
16 Jul 2020
Annual General Meeting/Dividend - Rs 2.35 Per SharePer share
₹2.35Ex-date
16 Jul 2020
Dividend
Annual General Meeting/Dividend - Rs 8.50 Per SharePer share
₹8.50Ex-date
18 Jul 2019
Annual General Meeting/Dividend - Rs 8.50 Per SharePer share
₹8.50Ex-date
18 Jul 2019
Bonuses, splits and other actions
Bonus 1:1Ex-date
21 Dec 2017
21 Dec 2017
Fv Split Rs.10 To Rs.5Ex-date
29 Mar 2010
29 Mar 2010
Agm/Div-Rs.10/- Per Sharepurpose RevisedEx-date
9 Jul 2009
9 Jul 2009
Filings and updates
The company's own announcements to NSE: results, dividends, presentations and board decisions.
Annual report 2025–26Open (PDF / ZIP)
Annual report 2024–25Open (PDF / ZIP)
Annual report 2023–24Open (PDF / ZIP)
Annual report 2022–23Open (PDF / ZIP)
Annual report 2021–22Open (PDF / ZIP)
Analysts/Institutional Investor Meet/Con. Call Updates15 Oct 2026 · 18:50
Mahindra & Mahindra Limited has informed the Exchange about Schedule of Analyst Meet Q2F27
Analysts/Institutional Investor Meet/Con. Call Updates13 Oct 2026 · 12:53
Mahindra & Mahindra Limited has informed the Exchange about Participation in Investor Meeting
Analysts/Institutional Investor Meet/Con. Call Updates30 Sep 2026 · 19:21
Mahindra & Mahindra Limited has informed the Exchange about Schedule of Investor Meet
Analysts/Institutional Investor Meet/Con. Call Updates21 Sep 2026 · 18:27
Mahindra & Mahindra Limited has informed the Exchange about Participation in Analyst/Investor Meeting
Analysts/Institutional Investor Meet/Con. Call Updates15 Sep 2026 · 19:06
Mahindra & Mahindra Limited has informed the Exchange about Schedule of meet
Analysts/Institutional Investor Meet/Con. Call Updates4 Sep 2026 · 16:11
Mahindra & Mahindra Limited has informed the Exchange about Schedule of Analyst or Institutional Investor meet
Analysts/Institutional Investor Meet/Con. Call Updates2 Sep 2026 · 15:11
Mahindra & Mahindra Limited has informed the Exchange about
Press Release1 Sep 2026 · 08:57
Mahindra & Mahindra Limited has informed the Exchange regarding a press release dated September 01, 2026, titled "Three Press Releases issued by Mahindra & Mahindra Limited ".
Press Release28 Aug 2026 · 16:46
Mahindra & Mahindra Limited has informed the Exchange regarding a press note dated August 28, 2026, titled "Mahindra expands Battery-as-a-Service across its entire Electric Origin SUV Portfolio".
Analysts/Institutional Investor Meet/Con. Call Updates20 Aug 2026 · 21:21
Mahindra & Mahindra Limited has informed the Exchange about Update on Analyst/Investor Meeting
Analysts/Institutional Investor Meet/Con. Call Updates18 Aug 2026 · 17:45
Mahindra & Mahindra Limited has informed the Exchange about Schedule of investor meet
Frequently asked questions
What is the share price of Mahindra & Mahindra Ltd. (M&M)?
M&M closed at ₹2,961.90 on NSE on 4 Nov 2026, +1.85% on the day. stockER shows end-of-day prices, updated after the market closes.
What is the market cap of M&M?
₹3.68 lakh cr, based on 124.35 crore shares and the latest closing price. That makes it #18 by size in the Nifty 50.
What are the PE and PB ratios of M&M?
PE 19.94 on earnings per share of ₹148.53 over the last four quarters; PB 3.96 on the latest reported equity.
What is the 52-week high and low of M&M?
High ₹3,839.90 on 5 Jan 2026, low ₹2,744.30 on 8 Oct 2026 (adjusted for bonuses and splits).
What is the dividend yield of M&M?
1.11%: dividends of ₹33.00 per share with ex-dates in the last 12 months, divided by the latest price.
What return has M&M given?
1 year −17.3%, 3 years +101.6%, 5 years +239.3% (price only, dividends not included).
Which sector is M&M in?
NSE classifies Mahindra & Mahindra Ltd. under Automobile and Auto Components. Other Nifty 50 companies in it: BAJAJ-AUTO, EICHERMOT, MARUTI, TMPV.
Who owns M&M?
On 30 Sep 2026, promoters held 18.39% and the public 78.16%.
How can I buy M&M shares?
Through a SEBI-registered stockbroker with a demat and trading account. stockER is an information site only: it doesn't sell shares or recommend buying or selling any of them.