About Mahindra Partners
Mahindra Partners is a publicly listed company based in Mumbai (India). Venture capital firm backed by Mahindra group. It operates on a B2B model. The company has 20,869 employees. Mahindra Partners has completed 1 acquisition, including Babyoye. Its Indian entity Mahindra And Mahindra Limited reported revenue of βΉ204,049 Cr. Its focus areas include Investment Industry, Venture Capital Funds, Captive Funds and Corporate VCs.
Company details
Mahindra Partners functions as a venture capital firm located in Mumbai, India. Backing is received from the Mahindra group, enabling investments in startups and growth-stage companies. Focus is placed on sectors aligned with the groups interests, including technology and manufacturing. Operations involve sourcing deals, due diligence, and portfolio management primarily within the Indian market. The firms online presence is maintained at mahindrapartners.com.
- Headquarters Mumbai, India
- Employees 20,869
- Stage Public
- SectorsFinancial Services
- Website mahindrapartners.com
- Legal Name Mahindra And Mahindra Limited
- Date of Incorporation 02 Oct, 1945
- Jurisdiction Mumbai, Maharashtra, India
- Market Cap₹3,59,380 Cr
M&M · NSE
- Share Price₹2,840.30
-1.72% today
- Revenue₹1,98,639 Cr
FY 2025-26 · +24.8% YoY
- EBITDA₹36,687 Cr
Margin 18.5%
- Net Profit₹17,313 Cr
FY 2025-26 · +33.9% YoY
- P/E (TTM)18.5x
P/B 3.8x
- ROE21.9%
ROCE 15.3%
- Debt / Equity1.46
Interest cover 32.7x
- Employee Count20,869
- Investments & Acquisitions
Associated legal entities of Mahindra Partners
Mahindra Partners operates through Mahindra And Mahindra Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Mahindra And Mahindra Limited Listed CIN L65990MH1945PLC004558 | Active | 02 Oct 1945 | Mumbai, Maharashtra | ₹204,049 Cr | 20,869 | 18 | View details |
Board of directors of Mahindra And Mahindra Limited (Mahindra Partners)
Mahindra And Mahindra Limited is the primary company behind Mahindra Partners. The board of Mahindra And Mahindra Limited currently have 15 directors; the longest-serving is Anand Gopal Mahindra, appointed in 2010. 27 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Anand Gopal Mahindra DIN 00004695 | Director | 01 Aug 2010 | 16 yrs 2 mo | Mahindra And Mahindra Limited |
| Shikha Sanjaya Sharma DIN 00043265 | Director | 08 Aug 2019 | 7 yrs 2 mo | Mahindra And Mahindra Limited |
| Rajesh Ganesh Jejurikar DIN 00046823 | Whole-time director | 07 Aug 2020 | 6 yrs 2 mo | Mahindra And Mahindra Limited |
| Anish Dilip Shah DIN 02719429 | Managing Director | 07 Aug 2020 | 6 yrs 2 mo | Mahindra And Mahindra Limited |
| Muthiah Murugappan Muthiah DIN 07858587 | Director | 08 Aug 2020 | 6 yrs 2 mo | Mahindra And Mahindra Limited |
| Nisaba Adi Godrej DIN 00591503 | Director | 08 Aug 2020 | 6 yrs 2 mo | Mahindra And Mahindra Limited |
| Ranjan Pant DIN 00005410 | Director | 17 May 2024 | 2 yrs 5 mo | Mahindra And Mahindra Limited |
| Amarjyoti Barua DIN 09202472 | CFO | 17 May 2024 | 2 yrs 5 mo | Mahindra And Mahindra Limited |
| Sat Pal Bhanoo DIN 10482731 | Nominee Director | 17 May 2024 | 2 yrs 5 mo | Mahindra And Mahindra Limited |
| Padmasree Warrior DIN 10387032 | Director | 17 May 2024 | 2 yrs 5 mo | Mahindra And Mahindra Limited |
| Feroze Hoshang Baria DIN 03315262 | Deputy Nodal Officer | 12 Nov 2024 | 1 yr 11 mo | Mahindra And Mahindra Limited |
| Sailesh Kumar Daga DIN 00147053 | Nodal Officer | 23 Jul 2025 | 1 yr 3 mo | Mahindra And Mahindra Limited |
| Samina Hamied DIN 00027923 | Director | 07 Oct 2025 | 1 yr | Mahindra And Mahindra Limited |
| Muthu Raju Paravasa Raju Vijay Kumar DIN 05170323 | Director | 07 Oct 2025 | 1 yr | Mahindra And Mahindra Limited |
| Deepak Modi DIN 03496767 | Deputy Nodal Officer | 17 Feb 2026 | 8 mo | Mahindra And Mahindra Limited |
People of Mahindra Partners
486 people are tracked at Mahindra Partners (159 in leadership, 10 in board & advisors, 317 in team); the tracked headcount is 20,869.
| Name | Role | Group |
|---|---|---|
Davesh Thakur | Head - Mahindra Leadership University | Leadership |
Rishabh Sharma | Regional Business Head Scv, North 2- Sales & Customer Care | Leadership |
Balasubramanian R | General Manager 4x4 Vehicle Development| Mahindra & Mahindra Ltd. | Leadership |
Kishore Selvam | Project Head | Leadership |
Prabhat Jha | State Head - Rajasthan West | Leadership |
Ami G. | CFO Farm Equipment Sector | Leadership |
Amey Rajput | Deputy General Manager Strategy | Leadership |
Mansoori Jamaluddin | Deputy General Manager - Exports (middle East) | Leadership |
Ganesh Adiga | Chief Engineer | Leadership |
Niranjan Nilekani | VP - Head BIU & Analytics | Leadership |
Mohit Kapoor | Group Chief Technology Officer | Leadership |
Venu Mandala | Zonal Head - Customer Care - East - Automotive Division | Leadership |
Andy Paulson | Chief Engineer - Vehicle Integration | Leadership |
Kiran Marathe | Executive Secretary To VP (mfg. Opns.) | Leadership |
Velusamy R | President - Automotive Technology & Product Development | Leadership |
Karan Gulati | EA To President And CPO | Leadership |
Jayant Magar | General Manager - I.t. /head - Information Technology | Leadership |
Robin Kumar Das | Zonal Head Automotive Division | Leadership |
Dinesh Bagade | Head - Exports Operations & SCM | Leadership |
Mahesh Soni | Department Head -dgm- Digital Transformation And Innovation | Leadership |
466 more people are available in the full profile.
Complete people profiles for Mahindra Partners
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of Mahindra Partners
Mahindra Partners is a publicly listed company on the NSE with ticker symbol M&M in India, operating in the Automobile sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- Listed onNSE: M&M
- Listed entityMahindra And Mahindra Limited
- Exchange sectorAutomobile
Financials of Mahindra Partners
Exchange-reported figures of Mahindra And Mahindra Limited, the listed company behind Mahindra Partners (NSE: M&M).
Financial Highlights
FY 2025-26 Β· ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,98,639 | 1,59,211 | 1,39,078 | 1,21,362 | 90,171 | 74,278 | 75,382 |
| Revenue growth | +24.8% | +14.5% | +14.6% | +34.6% | +21.4% | -1.5% | - |
| EBITDA | 36,687 | 30,518 | 24,892 | 18,583 | 14,513 | 9,839 | 8,712 |
| EBITDA margin | +18.5% | +19.2% | +17.9% | +15.3% | +16.1% | +13.3% | +11.6% |
| Profit before tax | 25,185 | 19,080 | 15,978 | 14,060 | 9,362 | 3,158 | 1,655 |
| Net profit | 17,313 | 12,929 | 11,269 | 9,276 | 6,256 | 2,232 | (306) |
| Net profit margin | +8.7% | +8.1% | +8.1% | +7.6% | +6.9% | +3.0% | -0.4% |
| EPS (βΉ) | 153.00 | 115.82 | 101.09 | 92.32 | 59.14 | 16.32 | 1.15 |
| Balance sheet | |||||||
| Total assets | 2,56,603 | 2,27,424 | 1,95,075 | 1,68,041 | 1,42,586 | 1,39,241 | 1,41,279 |
| Net worth | 96,069 | 81,114 | 68,212 | 56,766 | 47,123 | 41,582 | 39,969 |
| Total debt | 1,33,963 | 1,24,949 | 1,06,626 | 92,247 | 77,605 | 80,625 | 82,092 |
| Cash & bank | 31,979 | 20,615 | 12,013 | 11,273 | 11,118 | 12,852 | 7,911 |
| Net working capital | 67,078 | 56,376 | 45,177 | 40,817 | 34,557 | 36,378 | 33,535 |
| Cash flow | |||||||
| Cash from operations | 11,657 | 3,176 | (5,630) | (7,074) | 9,248 | 17,909 | (1,457) |
| Cash from investing | (17,680) | (18,616) | (5,615) | (8,866) | (3,252) | (19,686) | (6,870) |
| Cash from financing | 5,391 | 15,834 | 12,281 | 15,946 | (5,883) | 406 | 6,933 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 58,188 | 54,982 | 52,100 | 46,106 | 45,529 | 42,599 | 41,470 | 37,924 |
| Revenue growth (YoY) | +27.8% | +29.1% | +25.6% | +21.6% | +22.3% | - | - | - |
| Other income | 1,384 | 1,548 | 1,323 | 1,145 | 1,395 | 1,141 | 719 | 1,126 |
| EBITDA | 10,565 | 9,716 | 9,814 | 8,929 | 8,228 | 7,911 | 8,231 | 7,133 |
| EBITDA margin | +18.4% | +17.7% | +19.0% | +19.5% | +18.1% | +18.6% | +19.8% | +18.9% |
| Depreciation | 1,760 | 1,943 | 2,163 | 1,669 | 1,548 | 2,029 | 1,495 | 1,302 |
| Interest | 2,560 | 2,407 | 2,405 | 2,347 | 2,431 | 2,397 | 2,362 | 2,217 |
| Profit before tax | 7,628 | 6,914 | 6,569 | 6,058 | 5,644 | 4,627 | 5,092 | 4,740 |
| Tax | 1,631 | 1,654 | 1,547 | 2,094 | 1,268 | 1,085 | 1,468 | 1,379 |
| Net profit | 5,998 | 5,260 | 5,021 | 3,964 | 4,377 | 3,542 | 3,624 | 3,361 |
| EPS (βΉ) | 48.59 | 41.48 | 41.69 | 32.51 | 36.43 | 29.04 | 28.40 | 28.31 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,47,765 | 1,18,625 | 1,01,336 | 86,645 | 57,787 | 44,630 | 45,488 |
| Revenue growth | +24.6% | +17.1% | +17.0% | +49.9% | +29.5% | -1.9% | - |
| EBITDA | 22,392 | 18,416 | 15,130 | 9,491 | 6,214 | 3,030 | 2,417 |
| EBITDA margin | +15.2% | +15.5% | +14.9% | +11.0% | +10.8% | +6.8% | +5.3% |
| Profit before tax | 20,624 | 15,650 | 13,458 | 8,131 | 6,148 | 2,303 | 3,116 |
| Net profit | 15,716 | 11,855 | 10,642 | 7,654 | 4,890 | 2,743 | 2,191 |
| Net profit margin | +10.6% | +10.0% | +10.5% | +8.8% | +8.5% | +6.2% | +4.8% |
| EPS (βΉ) | 130.10 | 98.73 | 88.74 | 54.66 | 40.70 | 8.24 | 11.15 |
| Balance sheet | |||||||
| Total assets | 79,429 | 66,142 | 56,782 | 50,695 | 46,761 | 44,643 | 39,116 |
| Net worth | 74,325 | 61,585 | 52,291 | 43,357 | 38,198 | 34,951 | 34,468 |
| Total debt | 1,653 | 1,682 | 2,051 | 5,026 | 6,743 | 7,786 | 3,027 |
| Cash & bank | 18,480 | 10,791 | 5,665 | 4,482 | 3,651 | 6,395 | 4,237 |
| Net working capital | 5,148 | 2,730 | 1,678 | 1,481 | 241 | 850 | 2,974 |
| Cash flow | |||||||
| Cash from operations | 22,758 | 16,617 | 11,474 | 9,129 | 6,977 | 9,594 | 3,678 |
| Cash from investing | (19,733) | (13,874) | (5,361) | (4,753) | (3,961) | (14,564) | (2,576) |
| Cash from financing | (3,529) | (3,355) | (5,547) | (3,784) | (3,166) | 3,514 | (1,015) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 41,959 | 39,601 | 38,942 | 35,080 | 34,143 | 31,609 | 30,964 | 28,919 |
| Revenue growth (YoY) | +22.9% | +25.3% | +25.8% | +21.3% | +25.8% | - | - | - |
| Other income | 776 | 644 | 698 | 702 | 732 | 513 | 265 | 677 |
| Total expenses | 36,809 | 34,091 | 33,322 | 28,612 | 29,348 | 27,389 | 26,154 | 23,649 |
| EBITDA | 5,150 | 5,509 | 5,619 | 6,467 | 4,795 | 4,219 | 4,810 | 5,270 |
| EBITDA margin | +12.3% | +13.9% | +14.6% | +19.4% | +14.1% | +13.5% | +15.8% | +19.1% |
| Depreciation | 1,050 | 1,201 | 1,052 | 1,041 | 1,000 | 1,306 | 1,045 | 961 |
| Interest | 99.73 | 71.52 | 63.15 | 58.99 | 55.92 | 81.02 | 61.42 | 55.13 |
| Profit before tax | 4,776 | 4,881 | 5,202 | 6,069 | 4,471 | 3,345 | 3,968 | 4,931 |
| Tax | 1,091 | 1,144 | 1,271 | 1,549 | 1,021 | 908 | 1,004 | 1,090 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 58,188 | 54,982 | 52,100 | 46,106 | 45,529 | 42,599 | 41,470 | 37,924 |
| Revenue growth (YoY) | +27.8% | +29.1% | +25.6% | +21.6% | +22.3% | - | - | - |
| Other income | 1,384 | 1,548 | 1,323 | 1,145 | 1,395 | 1,141 | 719 | 1,126 |
| EBITDA | 10,565 | 9,716 | 9,814 | 8,929 | 8,228 | 7,911 | 8,231 | 7,133 |
| EBITDA margin | +18.4% | +17.7% | +19.0% | +19.5% | +18.1% | +18.6% | +19.8% | +18.9% |
| Depreciation | 1,760 | 1,943 | 2,163 | 1,669 | 1,548 | 2,029 | 1,495 | 1,302 |
| Interest | 2,560 | 2,407 | 2,405 | 2,347 | 2,431 | 2,397 | 2,362 | 2,217 |
| Profit before tax | 7,628 | 6,914 | 6,569 | 6,058 | 5,644 | 4,627 | 5,092 | 4,740 |
| Tax | 1,631 | 1,654 | 1,547 | 2,094 | 1,268 | 1,085 | 1,468 | 1,379 |
| Net profit | 5,998 | 5,260 | 5,021 | 3,964 | 4,377 | 3,542 | 3,624 | 3,361 |
| EPS (βΉ) | 48.59 | 41.48 | 41.69 | 32.51 | 36.43 | 29.04 | 28.40 | 28.31 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,98,639 | 1,59,211 | 1,39,078 | 1,21,362 | 90,171 | 74,278 | 75,382 |
| Revenue growth | +24.8% | +14.5% | +14.6% | +34.6% | +21.4% | -1.5% | - |
| Other income | 5,411 | 3,718 | 3,298 | 5,664 | 3,375 | 2,799 | 2,331 |
| Total expenses | 1,61,952 | 1,28,693 | 1,14,186 | 1,02,779 | 75,658 | 64,439 | 66,670 |
| Employee cost | 12,731 | 11,126 | 10,624 | 9,678 | 8,387 | 7,813 | 8,215 |
| EBITDA | 36,687 | 30,518 | 24,892 | 18,583 | 14,513 | 9,839 | 8,712 |
| EBITDA margin | +18.5% | +19.2% | +17.9% | +15.3% | +16.1% | +13.3% | +11.6% |
| Depreciation | 7,322 | 6,074 | 4,724 | 4,357 | 3,508 | 3,378 | 3,367 |
| Interest | 9,591 | 9,083 | 7,488 | 5,830 | 5,018 | 6,102 | 6,021 |
| Profit before tax | 25,185 | 19,080 | 15,978 | 14,060 | 9,362 | 3,158 | 1,655 |
| Tax | 6,563 | 5,006 | 3,708 | 2,686 | 2,109 | 1,646 | 1,976 |
| Net profit | 17,313 | 12,929 | 11,269 | 9,276 | 6,256 | 2,232 | (306) |
| Net profit margin | +8.7% | +8.1% | +8.1% | +7.6% | +6.9% | +3.0% | -0.4% |
| EPS (βΉ) | 153.00 | 115.82 | 101.09 | 92.32 | 59.14 | 16.32 | 1.15 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 3,532 | 4,633 | 2,579 | 957 | 556 | 555 | 554 |
| Reserves & surplus | 92,538 | 76,481 | 65,633 | 55,809 | 46,567 | 41,027 | 39,415 |
| Shareholders' funds (net worth) | 96,069 | 81,114 | 68,212 | 56,766 | 47,123 | 41,582 | 39,969 |
| Minority interest | 16,395 | 12,059 | 11,319 | 10,716 | 9,703 | 9,070 | 7,692 |
| Secured loans | 1,00,092 | 97,330 | 79,933 | 65,727 | 35,398 | 37,064 | 42,631 |
| Unsecured loans | 33,871 | 27,619 | 26,692 | 26,520 | 42,207 | 43,561 | 39,461 |
| Total debt | 1,33,963 | 1,24,949 | 1,06,626 | 92,247 | 77,605 | 80,625 | 82,092 |
| Total liabilities | 2,56,603 | 2,27,424 | 1,95,075 | 1,68,041 | 1,42,586 | 1,39,241 | 1,41,279 |
| Assets | |||||||
| Gross block | 75,955 | 66,143 | 56,462 | 52,090 | 48,526 | 42,658 | 68,602 |
| Net block | 38,459 | 34,636 | 28,129 | 27,140 | 26,018 | 21,380 | 29,689 |
| Capital work in progress | 7,740 | 8,298 | 8,039 | 3,969 | 6,703 | 7,873 | 6,856 |
| Investments | 40,324 | 41,309 | 35,208 | 35,272 | 30,060 | 28,778 | 19,210 |
| Inventories | 22,044 | 20,331 | 18,590 | 16,855 | 11,596 | 9,615 | 11,112 |
| Sundry debtors | 9,064 | 8,280 | 7,459 | 7,028 | 6,374 | 6,008 | 6,928 |
| Cash & bank balances | 31,979 | 20,615 | 12,013 | 11,273 | 11,118 | 12,852 | 7,911 |
| Loans & advances | 63,248 | 55,400 | 46,568 | 41,903 | 35,211 | 33,631 | 31,799 |
| Total current assets | 1,26,335 | 1,04,626 | 84,631 | 77,060 | 64,298 | 62,106 | 57,750 |
| Total current liabilities | 59,257 | 48,250 | 39,454 | 36,242 | 29,741 | 25,728 | 24,215 |
| Net working capital | 67,078 | 56,376 | 45,177 | 40,817 | 34,557 | 36,378 | 33,535 |
| Total assets | 2,56,603 | 2,27,424 | 1,95,075 | 1,68,041 | 1,42,586 | 1,39,241 | 1,41,279 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 4,924 | 4,530 | 3,493 | 3,488 | 3,375 | 4,745 | 6,139 |
| Net cash from operating activities | 11,657 | 3,176 | (5,630) | (7,074) | 9,248 | 17,909 | (1,457) |
| Net cash from investing activities | (17,680) | (18,616) | (5,615) | (8,866) | (3,252) | (19,686) | (6,870) |
| Net cash from financing activities | 5,391 | 15,834 | 12,281 | 15,946 | (5,883) | 406 | 6,933 |
| Net change in cash | (632) | 394 | 1,037 | 5.82 | 113 | (1,370) | (1,394) |
| Closing cash | 31,979 | 20,615 | 12,013 | 11,273 | 11,118 | 12,852 | 7,911 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +24.8% | +14.5% | +14.6% | +34.6% | +21.4% | -1.5% | - |
| EBITDA growth | +20.2% | +22.6% | +34.0% | +28.1% | +47.5% | +12.9% | - |
| PBT growth | +32.0% | +19.4% | +13.6% | +50.2% | +196.4% | +90.9% | -81.4% |
| Net income growth | +33.9% | +14.7% | +21.5% | +48.3% | +180.3% | +829.1% | - |
| Revenue CAGR (3Y) | +17.9% | +20.9% | +23.3% | +17.2% | -4.9% | -6.9% | -3.5% |
| EBITDA CAGR (3Y) | +25.5% | +28.1% | +36.3% | +28.7% | -0.8% | -9.4% | -6.7% |
| Profitability & leverage | |||||||
| Net income margin | +9.4% | +8.8% | +8.8% | +9.4% | +8.0% | +2.0% | -0.4% |
| Return on capital employed | +15.3% | +14.1% | +13.8% | +13.7% | +10.9% | +7.9% | +6.9% |
| Return on net worth | +21.9% | +19.7% | +20.0% | +22.0% | +16.4% | +4.7% | -1.9% |
| Debt / equity | 1.46 | 1.55 | 1.59 | 1.63 | 1.78 | 2.00 | 1.91 |
| Long-term debt / equity | 0.90 | 1.03 | 1.03 | 1.05 | 1.19 | 1.31 | 1.20 |
| Interest cover | 32.66 | 37.16 | 37.13 | 40.98 | 45.60 | 94.45 | 112.65 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.80 | 2.60 | 2.56 | 2.41 | 1.98 | 1.34 | 1.15 |
| Inventory turnover | 9.38 | 8.18 | 7.85 | 8.53 | 8.50 | 7.17 | 6.47 |
| Debtors turnover | 22.91 | 20.23 | 19.20 | 18.11 | 14.57 | 11.48 | 9.66 |
| EPS (βΉ) | 153.00 | 115.82 | 101.09 | 92.32 | 59.14 | 16.32 | 1.15 |
| Dividend per share (βΉ) | 33.00 | 25.30 | 21.10 | 16.25 | 11.55 | 8.75 | 2.35 |
| Book value per share (βΉ) | 833.03 | 690.13 | 593.77 | 506.14 | 423.72 | 374.51 | 360.55 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 41,959 | 39,601 | 38,942 | 35,080 | 34,143 | 31,609 | 30,964 | 28,919 |
| Revenue growth (YoY) | +22.9% | +25.3% | +25.8% | +21.3% | +25.8% | - | - | - |
| Other income | 776 | 644 | 698 | 702 | 732 | 513 | 265 | 677 |
| Total expenses | 36,809 | 34,091 | 33,322 | 28,612 | 29,348 | 27,389 | 26,154 | 23,649 |
| EBITDA | 5,150 | 5,509 | 5,619 | 6,467 | 4,795 | 4,219 | 4,810 | 5,270 |
| EBITDA margin | +12.3% | +13.9% | +14.6% | +19.4% | +14.1% | +13.5% | +15.8% | +19.1% |
| Depreciation | 1,050 | 1,201 | 1,052 | 1,041 | 1,000 | 1,306 | 1,045 | 961 |
| Interest | 99.73 | 71.52 | 63.15 | 58.99 | 55.92 | 81.02 | 61.42 | 55.13 |
| Profit before tax | 4,776 | 4,881 | 5,202 | 6,069 | 4,471 | 3,345 | 3,968 | 4,931 |
| Tax | 1,091 | 1,144 | 1,271 | 1,549 | 1,021 | 908 | 1,004 | 1,090 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,47,765 | 1,18,625 | 1,01,336 | 86,645 | 57,787 | 44,630 | 45,488 |
| Revenue growth | +24.6% | +17.1% | +17.0% | +49.9% | +29.5% | -1.9% | - |
| Other income | 2,775 | 1,712 | 1,956 | 2,067 | 2,658 | 2,039 | 3,035 |
| Total expenses | 1,25,374 | 1,00,209 | 86,206 | 77,154 | 51,573 | 41,600 | 43,071 |
| Employee cost | 5,290 | 4,881 | 4,463 | 3,650 | 3,330 | 3,252 | 2,880 |
| EBITDA | 22,392 | 18,416 | 15,130 | 9,491 | 6,214 | 3,030 | 2,417 |
| EBITDA margin | +15.2% | +15.5% | +14.9% | +11.0% | +10.8% | +6.8% | +5.3% |
| Depreciation | 4,293 | 4,227 | 3,488 | 3,154 | 2,498 | 2,370 | 2,223 |
| Interest | 250 | 250 | 140 | 273 | 226 | 396 | 113 |
| Profit before tax | 20,624 | 15,650 | 13,458 | 8,131 | 6,148 | 2,303 | 3,116 |
| Tax | 4,985 | 3,795 | 2,815 | 1,582 | 1,278 | 1,319 | 1,785 |
| Net profit | 15,716 | 11,855 | 10,642 | 7,654 | 4,890 | 2,743 | 2,191 |
| Net profit margin | +10.6% | +10.0% | +10.5% | +8.8% | +8.5% | +6.2% | +4.8% |
| EPS (βΉ) | 130.10 | 98.73 | 88.74 | 54.66 | 40.70 | 8.24 | 11.15 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 601 | 600 | 600 | 599 | 598 | 597 | 597 |
| Reserves & surplus | 73,724 | 60,985 | 51,692 | 42,758 | 37,600 | 34,354 | 33,871 |
| Shareholders' funds (net worth) | 74,325 | 61,585 | 52,291 | 43,357 | 38,198 | 34,951 | 34,468 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 2.56 | 94.25 | 0.00 |
| Unsecured loans | 1,653 | 1,682 | 2,051 | 5,026 | 6,740 | 7,692 | 3,027 |
| Total debt | 1,653 | 1,682 | 2,051 | 5,026 | 6,743 | 7,786 | 3,027 |
| Total liabilities | 79,429 | 66,142 | 56,782 | 50,695 | 46,761 | 44,643 | 39,116 |
| Assets | |||||||
| Gross block | 46,813 | 43,553 | 40,207 | 36,215 | 31,577 | 27,312 | 22,666 |
| Net block | 19,688 | 19,651 | 17,805 | 16,976 | 14,904 | 12,011 | 10,395 |
| Capital work in progress | 5,308 | 3,905 | 3,763 | 2,785 | 5,263 | 6,125 | 4,009 |
| Investments | 42,032 | 35,468 | 29,207 | 27,087 | 24,204 | 21,783 | 19,938 |
| Inventories | 10,306 | 10,333 | 9,718 | 8,881 | 5,970 | 4,783 | 3,401 |
| Sundry debtors | 6,486 | 5,726 | 4,568 | 4,042 | 3,039 | 2,203 | 2,999 |
| Cash & bank balances | 18,480 | 10,791 | 5,665 | 4,482 | 3,651 | 6,395 | 4,237 |
| Loans & advances | 9,598 | 7,725 | 7,091 | 7,691 | 5,664 | 2,941 | 2,315 |
| Total current assets | 44,870 | 34,574 | 27,041 | 25,096 | 18,324 | 16,322 | 12,952 |
| Total current liabilities | 39,722 | 31,844 | 25,363 | 23,614 | 18,083 | 15,472 | 9,978 |
| Net working capital | 5,148 | 2,730 | 1,678 | 1,481 | 241 | 850 | 2,974 |
| Total assets | 79,429 | 66,142 | 56,782 | 50,695 | 46,761 | 44,643 | 39,116 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1,264 | 1,876 | 1,310 | 717 | 868 | 2,324 | 2,238 |
| Net cash from operating activities | 22,758 | 16,617 | 11,474 | 9,129 | 6,977 | 9,594 | 3,678 |
| Net cash from investing activities | (19,733) | (13,874) | (5,361) | (4,753) | (3,961) | (14,564) | (2,576) |
| Net cash from financing activities | (3,529) | (3,355) | (5,547) | (3,784) | (3,166) | 3,514 | (1,015) |
| Net change in cash | (504) | (612) | 566 | 593 | (150) | (1,456) | 85.93 |
| Closing cash | 18,480 | 10,791 | 5,665 | 4,482 | 3,651 | 6,395 | 4,237 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +24.6% | +17.1% | +17.0% | +49.9% | +29.5% | -1.9% | - |
| EBITDA growth | +21.6% | +21.7% | +59.4% | +52.7% | +105.1% | +25.4% | - |
| PBT growth | +31.8% | +16.3% | +65.5% | +32.3% | +166.9% | -26.1% | -50.7% |
| Net income growth | +32.6% | +11.4% | +39.1% | +56.5% | +78.3% | +25.2% | - |
| Revenue CAGR (3Y) | +19.5% | +27.1% | +31.4% | +24.0% | +2.5% | -2.9% | +1.1% |
| EBITDA CAGR (3Y) | +33.1% | +43.6% | +70.9% | +57.8% | +1.1% | -21.3% | -17.4% |
| Profitability & leverage | |||||||
| Net income margin | +10.6% | +10.0% | +10.5% | +7.6% | +8.4% | +2.2% | +2.9% |
| Return on capital employed | +28.7% | +25.9% | +25.3% | +20.2% | +14.0% | +13.8% | +13.5% |
| Return on net worth | +23.0% | +20.8% | +22.3% | +18.8% | +13.3% | +7.9% | +6.4% |
| Debt / equity | 0.02 | 0.03 | 0.07 | 0.14 | 0.20 | 0.16 | 0.08 |
| Long-term debt / equity | 0.02 | 0.03 | 0.04 | 0.10 | 0.18 | 0.13 | 0.06 |
| Interest cover | 1.38 | 1.77 | 1.21 | 4.31 | 6.09 | 60.01 | 58.25 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 3.27 | 2.83 | 2.65 | 2.56 | 1.96 | 1.79 | 2.11 |
| Inventory turnover | 14.32 | 11.83 | 10.90 | 11.67 | 10.75 | 10.91 | 12.57 |
| Debtors turnover | 24.20 | 23.05 | 23.54 | 24.47 | 22.05 | 17.16 | 13.10 |
| EPS (βΉ) | 130.10 | 98.73 | 88.74 | 54.66 | 40.70 | 8.24 | 11.15 |
| Dividend per share (βΉ) | 33.00 | 25.30 | 21.10 | 16.25 | 11.55 | 8.75 | 2.35 |
| Book value per share (βΉ) | 618.33 | 512.88 | 436.04 | 361.88 | 319.22 | 292.53 | 288.91 |
Investments & Acquisitions by Mahindra Partners
Mahindra Partners has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Babyoye.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Online portal for baby products, pregnancy infant-care and mother-care products | babyoye.com | Bengaluru, India | 2010 | Feb 2015 | β’β’β’β’ |
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Frequently Asked Questions about Mahindra Partners
Mahindra Partners is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Mahindra Partners has 20,869 employees.
The primary company behind Mahindra Partners, Mahindra And Mahindra Limited, reported revenue of βΉ204,049 Cr for FY 2026, up 25% year on year.
Mahindra Partners functions as a venture capital firm located in Mumbai, India. Backing is received from the Mahindra group, enabling investments in startups and growth-stage companies. Focus is placed on sectors aligned with the groups interests, including technology and manufacturing. Operations involve sourcing deals, due diligence, and portfolio management primarily within the Indian market. The firms online presence is maintained at mahindrapartners.com.
Yes, Mahindra Partners is publicly traded on NSE under the ticker symbol M&M.
Mahindra Partners has made 1 acquisition, including Babyoye.
Mahindra Partners operates through Mahindra And Mahindra Limited.
The legal entities of Mahindra Partners currently have 16 directors, including Deepak Modi, Ranjan Pant, Rajesh Ganesh Jejurikar and others.

