Mahindra and Mahindra Limited

BSE: 500520 NSE: M&M
Mahindra and Mahindra Limited - automotive in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN L65990MH1945PLC004558 Incorporated 02 October 1945 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Listed - NSE: M&M · BSE: 500520 Public Limited Company automotive Fortune India 500 · #18 India's Most Valuable · #15 Nifty 50
Data last updated
Market Cap
₹3,88,914 Cr
M&M · NSE
Share Price
₹3,287.20
+5.11% 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)
19.1x
P/B 4.0x
ROE
21.9%
ROCE 15.3%
Debt / Equity
1.46
Interest cover 32.7x

About Mahindra and Mahindra Limited

Data last updated:

Mahindra and Mahindra Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the commercial vehicles and fleet segment of the automotive sector. It was incorporated on 02 October 1945 and has been in existence for over 81 years.

Mahindra and Mahindra is ranked #18 on the Fortune India 500 (2025) and #15 among India's most valuable companies (2025). It is part of the Nifty 50, Sensex, Nifty 500 and BSE 500 indices. Its director Anand Mahindra and family are #41 among India's richest people (2026).

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L65990MH1945PLC004558. Its GSTIN is 27AAACM3025E1ZZ (Maharashtra). The company holds 97 GST registrations, of which 60 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 500520 and NSE: M&M.

The company has an authorised share capital of ₹15,460 Cr and a paid-up capital of ₹621.76 Cr. It was formerly known as Mahindra and Mohammed Ltd. It is led by directors including Anish Dilip Shah (Managing Director) and Rajesh Ganesh Jejurikar (Whole-Time Director).

Its last annual general meeting (AGM) was held on 30 July 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Gateway Building Apollo Bunder, Mumbai, Maharashtra, India – 400001.

As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹1,98,639 Cr, a growth of 24.8% compared to the previous year. For the same year it recorded a net profit of ₹17,313 Cr (net margin 8.7%) and EBITDA of ₹36,687 Cr (EBITDA margin 18.5%). The net worth stands at ₹96,069 Cr (up 18.4% YoY). Total assets are valued at ₹2,56,603 Cr (up 12.8% YoY).

The company has about 20,869 employees on its provident fund (EPFO) records. Its group structure includes 36 subsidiaries.

The company is associated with 19 brands, including Machine Pulse, Mahindra Solarize, Krish-e, Mahindra DiiSense, Mahindra Powerol and others. As per MCA filings, the company has open charges of ₹702.93 Cr and satisfied charges of ₹3,014.28 Cr on record. Court records list 6,145 cases involving the company, including 2,898 filed by the company and 3,253 filed against it; 1,096 cases are pending. The company has 83 deals on record (47 market trades, 18 secondary share transfers, 13 funding rounds), with disclosed funding of ₹4,170.16 Cr; the latest was in March 2026. The company has 50 MSME Form 1 returns on record between 2007 and 2024, listing 20,690 overdue payments to 1,114 micro and small suppliers.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mahindra.com.

Company details

CIN L65990MH1945PLC004558
Registration Number 004558
Incorporation Date 02 October 1945
ROC Mumbai
Listing Status Listed - Listed on NSE (M&M); Listed on BSE (500520)
Company Status Active
Date of Last AGM 30 July 2026
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant

CIN history

Mahindra and Mahindra has one previous CIN (Corporate Identification Number): U65990MH1945PTC004558. The current CIN is L65990MH1945PLC004558, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L65990MH1945PLC004558Current
U65990MH1945PTC004558Previous
Key People
Anish Dilip Shah Managing Director Rajesh Ganesh Jejurikar Whole-Time Director Nisaba Godrej Director

Recognitions & Rankings of Mahindra and Mahindra

Fortune India 500 2025 edition
Rank#18
Total income
₹1,62,941 Cr
Profit
₹12,929 Cr
Last year #21
India's Most Valuable Companies 2025 edition · Source: Hurun India
Rank#15
Valuation
₹3,85,190 Cr
Revenue
₹1,61,392 Cr
2024 #13 2023 #21 2022 #26
Stock market indices
Nifty 50 Sensex Nifty 500 BSE 500

Contact details

Mahindra and Mahindra Limited's registered office is in Mumbai, Maharashtra. Its website is mahindra.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    mahindra.com
  • Social Media
  • Registered Address
    Gateway Building Apollo Bunder, Mumbai, Maharashtra, India – 400001
  • Industry
    Automotive, Commercial Vehicles & Fleet

To see the full contact details of Mahindra and Mahindra Limited, buy the company report.

Comprehensive company report
Mahindra and Mahindra Limited - one report that includes everything
  • Company details, directors and signatories
  • Historical financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included

Brands

Mahindra and Mahindra operates multiple associated brands including Machine Pulse, Mahindra Solarize, and Krish-e. Each brand links to its own profile.

BrandDescriptionWebsite
Machine Pulse
Offers cloud-based big data analytics and decision science solutions.machinepulse.com
Mahindra Solarize
Offers solar rooftop and water pump solutions for sustainable energy needs.mahindrasolarize.com
Krish-e
Offers an app-based platform providing advisory services to farmers.krishe.co.in
Mahindra Powerol
Manufacturing of gensets and power solutions for energy needs in industrial and other sectors.mahindrapowerol.com
Mahindra Susten
Turnkey EPC services for solar power plants are provided.mahindrasusten.com
Mahindra
Diversified operations span automotive, agriculture, and financial services.mahindra.com
Meru
Ride-hailing services are facilitated via an app-based platform.meru.in
Carnot
Farm analytics and tractor telematics solutions are provided for agriculture.carnot.co.in
Mahindra Last Mile Mobility
Manufacturer of petrol, CNG, diesel and electric last mile mobility 3 & 4 wheelers, passenger, and cargo vehiclesmahindralastmilemobility.com
Mahindra Electric Automobile
Electric cars are manufactured and developed by Mahindra Electric Automobile.mahindraelectricautomobile.com
Mahindra Waste To Energy Solutions
Waste-to-energy solutions and management services are provided.mahindrawastetoenergy.com
Mahindra Electric
Electric three-wheelers are manufactured for urban logistics and last-mile delivery.mahindraelectric.com
Mahindra Partners
Venture capital firm backed by Mahindra groupmahindrapartners.com
Swaraj Tractors
Tractor manufacturing and agricultural equipment services in India.swarajtractors.com
Mahindra Construction Equipment
Manufactures high-quality heavy earth moving equipment.mahindraconstructionequipment.com
Mahindra Truck and Bus Division
Manufactures trucks for commercial and industrial use.mahindratruckandbus.com
Mahindra DiiSense
Tractor manufacturing, agricultural implements, and digital tracking services are offered by Mahindra.mahindradigisense.com
AdventuRush
Adventure tourism services and customized trips in India.adventurush.com
Mahindra Farm Equipment
Mahindra Farm Equipment is engaged in providing farm mechanization solutions globally.mahindrafarmequipment.com

Business activity

The main business activity of Mahindra and Mahindra is manufacturing. In detail, this covers manufacture of motor vehicles, trailers and semi-trailers.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturing29Manufacture of motor vehicles, trailers and semi-trailers

To see the full business activity and turnover split of Mahindra and Mahindra Limited, buy the company report.

Financials of Mahindra and Mahindra Limited

FY 2025-26 filings available

Mahindra and Mahindra Limited reported revenue of ₹1,98,639 Cr (up 24.8% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹1,98,639 Cr
+24.8% YoY
EBITDA
₹36,687 Cr
+20.2% YoY
Profit After Tax
₹17,313 Cr
+33.9% YoY
Net Worth
₹96,069 Cr
+18.4% YoY
Total Assets
₹2,56,603 Cr
+12.8% YoY
Total Debt
₹1,33,963 Cr
+7.2% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,98,6391,59,2111,39,0781,21,36290,17174,27875,382
Revenue growth+24.8%+14.5%+14.6%+34.6%+21.4%-1.5%-
EBITDA36,68730,51824,89218,58314,5139,8398,712
EBITDA margin+18.5%+19.2%+17.9%+15.3%+16.1%+13.3%+11.6%
Profit before tax25,18519,08015,97814,0609,3623,1581,655
Net profit17,31312,92911,2699,2766,2562,232(306)
Net profit margin+8.7%+8.1%+8.1%+7.6%+6.9%+3.0%-0.4%
EPS (₹)153.00115.82101.0992.3259.1416.321.15
Balance sheet
Total assets2,56,6032,27,4241,95,0751,68,0411,42,5861,39,2411,41,279
Net worth96,06981,11468,21256,76647,12341,58239,969
Total debt1,33,9631,24,9491,06,62692,24777,60580,62582,092
Cash & bank31,97920,61512,01311,27311,11812,8527,911
Net working capital67,07856,37645,17740,81734,55736,37833,535
Cash flow
Cash from operations11,6573,176(5,630)(7,074)9,24817,909(1,457)
Cash from investing(17,680)(18,616)(5,615)(8,866)(3,252)(19,686)(6,870)
Cash from financing5,39115,83412,28115,946(5,883)4066,933
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue57,55358,18854,98252,10046,10645,52942,59941,470
Revenue growth (YoY)+24.8%+27.8%+29.1%+25.6%+21.6%+22.3%--
Other income1,6571,3841,5481,3231,1451,3951,141719
EBITDA10,22110,5659,7169,8148,9298,2287,9118,231
EBITDA margin+17.8%+18.4%+17.7%+19.0%+19.5%+18.1%+18.6%+19.8%
Depreciation1,8321,7601,9432,1631,6691,5482,0291,495
Interest2,6822,5602,4072,4052,3472,4312,3972,362
Profit before tax7,3657,6286,9146,5696,0585,6444,6275,092
Tax2,1981,6311,6541,5472,0941,2681,0851,468
Net profit5,1675,9985,2605,0213,9644,3773,5423,624
EPS (₹)40.9048.5941.4841.6932.5136.4329.0428.40
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,47,7651,18,6251,01,33686,64557,78744,63045,488
Revenue growth+24.6%+17.1%+17.0%+49.9%+29.5%-1.9%-
EBITDA22,39218,41615,1309,4916,2143,0302,417
EBITDA margin+15.2%+15.5%+14.9%+11.0%+10.8%+6.8%+5.3%
Profit before tax20,62415,65013,4588,1316,1482,3033,116
Net profit15,71611,85510,6427,6544,8902,7432,191
Net profit margin+10.6%+10.0%+10.5%+8.8%+8.5%+6.2%+4.8%
EPS (₹)130.1098.7388.7454.6640.708.2411.15
Balance sheet
Total assets79,42966,14256,78250,69546,76144,64339,116
Net worth74,32561,58552,29143,35738,19834,95134,468
Total debt1,6531,6822,0515,0266,7437,7863,027
Cash & bank18,48010,7915,6654,4823,6516,3954,237
Net working capital5,1482,7301,6781,4812418502,974
Cash flow
Cash from operations22,75816,61711,4749,1296,9779,5943,678
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)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue44,28241,95939,60138,94235,08034,14331,60930,964
Revenue growth (YoY)+26.2%+22.9%+25.3%+25.8%+21.3%+25.8%--
Other income1,062776644698702732513265
Total expenses37,56436,80934,09133,32228,61229,34827,38926,154
EBITDA6,7185,1505,5095,6196,4674,7954,2194,810
EBITDA margin+15.8%+12.3%+13.9%+14.6%+19.4%+14.1%+13.5%+15.8%
Depreciation1,0741,0501,2011,0521,0411,0001,3061,045
Interest66.7299.7371.5263.1558.9955.9281.0261.42
Profit before tax6,6384,7764,8815,2026,0694,4713,3453,968
Tax1,5361,0911,1441,2711,5491,0219081,004

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 06 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue57,55358,18854,98252,10046,10645,52942,59941,470
Revenue growth (YoY)+24.8%+27.8%+29.1%+25.6%+21.6%+22.3%--
Other income1,6571,3841,5481,3231,1451,3951,141719
EBITDA10,22110,5659,7169,8148,9298,2287,9118,231
EBITDA margin+17.8%+18.4%+17.7%+19.0%+19.5%+18.1%+18.6%+19.8%
Depreciation1,8321,7601,9432,1631,6691,5482,0291,495
Interest2,6822,5602,4072,4052,3472,4312,3972,362
Profit before tax7,3657,6286,9146,5696,0585,6444,6275,092
Tax2,1981,6311,6541,5472,0941,2681,0851,468
Net profit5,1675,9985,2605,0213,9644,3773,5423,624
EPS (₹)40.9048.5941.4841.6932.5136.4329.0428.40
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,98,6391,59,2111,39,0781,21,36290,17174,27875,382
Revenue growth+24.8%+14.5%+14.6%+34.6%+21.4%-1.5%-
Other income5,4113,7183,2985,6643,3752,7992,331
Total expenses1,61,9521,28,6931,14,1861,02,77975,65864,43966,670
Employee cost12,73111,12610,6249,6788,3877,8138,215
EBITDA36,68730,51824,89218,58314,5139,8398,712
EBITDA margin+18.5%+19.2%+17.9%+15.3%+16.1%+13.3%+11.6%
Depreciation7,3226,0744,7244,3573,5083,3783,367
Interest9,5919,0837,4885,8305,0186,1026,021
Profit before tax25,18519,08015,97814,0609,3623,1581,655
Tax6,5635,0063,7082,6862,1091,6461,976
Net profit17,31312,92911,2699,2766,2562,232(306)
Net profit margin+8.7%+8.1%+8.1%+7.6%+6.9%+3.0%-0.4%
EPS (₹)153.00115.82101.0992.3259.1416.321.15
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital3,5324,6332,579957556555554
Reserves & surplus92,53876,48165,63355,80946,56741,02739,415
Shareholders' funds (net worth)96,06981,11468,21256,76647,12341,58239,969
Minority interest16,39512,05911,31910,7169,7039,0707,692
Secured loans1,00,09297,33079,93365,72735,39837,06442,631
Unsecured loans33,87127,61926,69226,52042,20743,56139,461
Total debt1,33,9631,24,9491,06,62692,24777,60580,62582,092
Total liabilities2,56,6032,27,4241,95,0751,68,0411,42,5861,39,2411,41,279
Assets
Gross block75,95566,14356,46252,09048,52642,65868,602
Net block38,45934,63628,12927,14026,01821,38029,689
Capital work in progress7,7408,2988,0393,9696,7037,8736,856
Investments40,32441,30935,20835,27230,06028,77819,210
Inventories22,04420,33118,59016,85511,5969,61511,112
Sundry debtors9,0648,2807,4597,0286,3746,0086,928
Cash & bank balances31,97920,61512,01311,27311,11812,8527,911
Loans & advances63,24855,40046,56841,90335,21133,63131,799
Total current assets1,26,3351,04,62684,63177,06064,29862,10657,750
Total current liabilities59,25748,25039,45436,24229,74125,72824,215
Net working capital67,07856,37645,17740,81734,55736,37833,535
Total assets2,56,6032,27,4241,95,0751,68,0411,42,5861,39,2411,41,279
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash4,9244,5303,4933,4883,3754,7456,139
Net cash from operating activities11,6573,176(5,630)(7,074)9,24817,909(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 activities5,39115,83412,28115,946(5,883)4066,933
Net change in cash(632)3941,0375.82113(1,370)(1,394)
Closing cash31,97920,61512,01311,27311,11812,8527,911
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 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 / equity1.461.551.591.631.782.001.91
Long-term debt / equity0.901.031.031.051.191.311.20
Interest cover32.6637.1637.1340.9845.6094.45112.65
Efficiency & per share
Fixed asset turnover2.802.602.562.411.981.341.15
Inventory turnover9.388.187.858.538.507.176.47
Debtors turnover22.9120.2319.2018.1114.5711.489.66
EPS (₹)153.00115.82101.0992.3259.1416.321.15
Dividend per share (₹)33.0025.3021.1016.2511.558.752.35
Book value per share (₹)833.03690.13593.77506.14423.72374.51360.55
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue44,28241,95939,60138,94235,08034,14331,60930,964
Revenue growth (YoY)+26.2%+22.9%+25.3%+25.8%+21.3%+25.8%--
Other income1,062776644698702732513265
Total expenses37,56436,80934,09133,32228,61229,34827,38926,154
EBITDA6,7185,1505,5095,6196,4674,7954,2194,810
EBITDA margin+15.8%+12.3%+13.9%+14.6%+19.4%+14.1%+13.5%+15.8%
Depreciation1,0741,0501,2011,0521,0411,0001,3061,045
Interest66.7299.7371.5263.1558.9955.9281.0261.42
Profit before tax6,6384,7764,8815,2026,0694,4713,3453,968
Tax1,5361,0911,1441,2711,5491,0219081,004
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,47,7651,18,6251,01,33686,64557,78744,63045,488
Revenue growth+24.6%+17.1%+17.0%+49.9%+29.5%-1.9%-
Other income2,7751,7121,9562,0672,6582,0393,035
Total expenses1,25,3741,00,20986,20677,15451,57341,60043,071
Employee cost5,2904,8814,4633,6503,3303,2522,880
EBITDA22,39218,41615,1309,4916,2143,0302,417
EBITDA margin+15.2%+15.5%+14.9%+11.0%+10.8%+6.8%+5.3%
Depreciation4,2934,2273,4883,1542,4982,3702,223
Interest250250140273226396113
Profit before tax20,62415,65013,4588,1316,1482,3033,116
Tax4,9853,7952,8151,5821,2781,3191,785
Net profit15,71611,85510,6427,6544,8902,7432,191
Net profit margin+10.6%+10.0%+10.5%+8.8%+8.5%+6.2%+4.8%
EPS (₹)130.1098.7388.7454.6640.708.2411.15
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital601600600599598597597
Reserves & surplus73,72460,98551,69242,75837,60034,35433,871
Shareholders' funds (net worth)74,32561,58552,29143,35738,19834,95134,468
Secured loans0.000.000.000.002.5694.250.00
Unsecured loans1,6531,6822,0515,0266,7407,6923,027
Total debt1,6531,6822,0515,0266,7437,7863,027
Total liabilities79,42966,14256,78250,69546,76144,64339,116
Assets
Gross block46,81343,55340,20736,21531,57727,31222,666
Net block19,68819,65117,80516,97614,90412,01110,395
Capital work in progress5,3083,9053,7632,7855,2636,1254,009
Investments42,03235,46829,20727,08724,20421,78319,938
Inventories10,30610,3339,7188,8815,9704,7833,401
Sundry debtors6,4865,7264,5684,0423,0392,2032,999
Cash & bank balances18,48010,7915,6654,4823,6516,3954,237
Loans & advances9,5987,7257,0917,6915,6642,9412,315
Total current assets44,87034,57427,04125,09618,32416,32212,952
Total current liabilities39,72231,84425,36323,61418,08315,4729,978
Net working capital5,1482,7301,6781,4812418502,974
Total assets79,42966,14256,78250,69546,76144,64339,116
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash1,2641,8761,3107178682,3242,238
Net cash from operating activities22,75816,61711,4749,1296,9779,5943,678
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)566593(150)(1,456)85.93
Closing cash18,48010,7915,6654,4823,6516,3954,237
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 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 / equity0.020.030.070.140.200.160.08
Long-term debt / equity0.020.030.040.100.180.130.06
Interest cover1.381.771.214.316.0960.0158.25
Efficiency & per share
Fixed asset turnover3.272.832.652.561.961.792.11
Inventory turnover14.3211.8310.9011.6710.7510.9112.57
Debtors turnover24.2023.0523.5424.4722.0517.1613.10
EPS (₹)130.1098.7388.7454.6640.708.2411.15
Dividend per share (₹)33.0025.3021.1016.2511.558.752.35
Book value per share (₹)618.33512.88436.04361.88319.22292.53288.91

To see the full year-wise statements and ratios of Mahindra and Mahindra Limited, buy the company report.

Board of directors of Mahindra and Mahindra Limited

Mahindra and Mahindra has 11 current directors and 26 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Rajesh Ganesh Jejurikar
Also directs: Classic Legends Private Limited, Mahindra Electric Automobile Limited, Mahindra Last Mile Mobility Limited
Whole-Time Director07 Aug 20206 Years 3 MonthsCurrent
Nisaba Godrej
Also directs: Anbg Enterprise LLP, Lusitano Real Estate LLP, Evrotas Real Estate LLP and 5 more
Director08 Aug 20206 Years 2 MonthsCurrent
Muthiah Murugappan
Also directs: Uw Design LLP, Boat Club Ventures LLP, E.I.D Parry (India) Limited and 3 more
Director08 Aug 20206 Years 2 MonthsCurrent
Anand Gopal Mahindra
Also directs: Gotham Park Projects LLP, Tech Mahindra Limited, Araku Originals Private Limited and 5 more
Director01 Aug 201016 Years 3 MonthsCurrent
Anish Dilip Shah
Also directs: Tech Mahindra Limited, Tech Mahindra Foundation, Mahindra Electric Automobile Limited and 4 more
Managing Director07 Aug 20206 Years 3 MonthsCurrent
Shikha Sanjaya Sharma
Also directs: Tech Mahindra Limited, Tata Consumer Products Limited, Piramal Finance Limited and 3 more
Director08 Aug 20197 Years 2 MonthsCurrent
Showing 6 of 11 current directors. View all directors

Auditor

Mahindra and Mahindra Limited is audited by B S R & Co. LLP for the financial year 2026.

Auditor firmFinancial yearFirm registration number
B S R & Co. LLPFY 2026101248W/W-100022

Shareholding

Shareholding for the quarter ended Sep 2026: promoters hold 18.40%, foreign institutional investors hold 34.90%, domestic institutional investors hold 32.70% and retail and other public shareholders hold 14.00%.

Promoters: 18.40%DII (Domestic Institutional): 32.70%FII (Foreign Institutional): 34.90%Retail & Others: 14.00%
Sep 2026
QUARTER
18.40% Promoters
32.70% DII (Domestic Institutional)
34.90% FII (Foreign Institutional)
14.00% Retail & Others
Promoter holding - history
Now 18.40% · Sep 2026High 18.40% · Dec 2025Low 18.40% · Dec 2025
17%17.8%18.5%19.3%20%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 18.40%Mar 2026: 18.40%Jun 2026: 18.40%Sep 2026: 18.40%18.40%18.40%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters18.40%18.40%18.40%18.40%
Public81.60%81.60%81.60%81.60%

Charges & borrowings

Open charges
₹702.93 Cr
Satisfied charges
₹3,014.28 Cr
Breakdown by lending institutions
State Bank of India₹650.00 Cr
Others₹52.72 Cr
Ind. Finance Corp. of India₹0.21 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
06 Mar 2025101066260Others₹7.12 CrOpen
11 Jan 2024100851683Others₹11.05 CrOpen
08 Jan 2024100851687Others₹10.8 CrOpen
29 Dec 2020100405640Others₹23.75 CrOpen
27 Apr 198790168101Ind. Finance Corp. of India₹21 LakhOpen

To see the full charge records of Mahindra and Mahindra Limited, buy the company report.

Total charge records: 54 View all charges

Deals & funding

Mahindra and Mahindra Limited has 83 deals on record (47 market trades, 18 secondary share transfers, 13 funding rounds), with disclosed funding of ₹4,170.16 Cr; the latest was in March 2026.

Total deals
83
Market trades
47
Secondary share transfers
18
Funding rounds
13
Debt financings
3
Disclosed funding
₹4,170.16 Cr

Deals on record (5 of 83)

WhenDealAmountParties
Nov 2025Market trade₹100.08 CrBuyer: Pi Opportunities Aif V LLP
Seller: Premjiinvest
Apr 2025Market trade₹97.36 CrBuyer: Pi Opportunities Aif V LLP
Seller: Premjiinvest
Jul 2022AcquisitionUndisclosedBuyer: Evco Automobiles Private Limited
Seller: Mahindra and Mahindra Limited
Apr 2020Debt financing₹1,000 CrInvestors: Icici Prudential Corporate Bond Fund, Icici Prudential Short Term Fund, HDFC Bank Limited
Apr 2020Debt financing₹1,000 CrInvestors: Axis Bank Limited

To see the full deal history of Mahindra and Mahindra Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

Credit ratings & regulatory alerts

Mahindra and Mahindra Limited was last rated by Care on 10 Oct 2022.

Rating agencyRated onRating
Care10 Oct 2022

To see the full credit ratings and regulatory alerts of Mahindra and Mahindra Limited, buy the company report.

MSME payment delays

Mahindra and Mahindra Limited has 50 MSME Form 1 returns on record between 2007 and 2024, listing 20,690 overdue payments to 1,114 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (5 of 1,114)

SupplierAmount dueDue sinceReported on
Deccan Auto Limited
Jostick Adhesive Private Limited
Sumeet Packers Private Limited
Radhesham Wellpack Pvt Ltd
Vishwaraj Polychem Private Limited

To see the full MSME payment records of Mahindra and Mahindra Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Group structure & subsidiaries

Mahindra and Mahindra has 36 subsidiary companies. This group structure data is as of FY 2022. The table lists each entity with its relationship and holding.

36
Subsidiary companies
Key subsidiaries
Company NameCINShares held
Mahindra Holidays & Resorts India LimitedL55101TN1996PLC036595
Mahindra Agri Solutions LimitedU01400MH2000PLC125781
≡Mahindra Summit Agriscience LimitedU01400MH2018PLC315558
≡ Mahindra HZPC Private LimitedU01403MH2013PTC242474
≡Mahindra Fruits Private LimitedU01403MH2014PTC255946
¥ Mahindra Steel Service Centre LimitedU27100MH1993PLC070416

To see the full group structure of Mahindra and Mahindra Limited, buy the company report.

Employees & EPFO

Mahindra and Mahindra Limited has a workforce of 20,869 employees on its EPFO records as of Dec 17, 2024, across 11 active EPFO establishments.

Employee count
20,869
Active EPFO establishments
11
Employee growth
2.3%

GST

Mahindra and Mahindra has 97 GST registrations: 60 active and 37 cancelled or inactive. The first 4 active GSTINs are listed below.

Total GSTINs
97
Active
60
Cancelled / inactive
37
GSTINStateStatusRegistered on
27AAACM3025E1ZZMaharashtraActive01 Jul 2017
27AAACM3025E2ZYMaharashtraActive13 Jul 2017
27AAACM3025E3ZXMaharashtraActive17 Jul 2017
27AAACM3025E5ZVMaharashtraActive23 Aug 2017

To see the full GST registrations and return filing status of Mahindra and Mahindra Limited, buy the company report.

Recent activity

Mahindra and Mahindra Limited has 36 board changes on record since 2007: 11 appointments and 25 cessations. The latest: Muthu Raju Paravasa Raju Vijay Kumar was appointed as Director on 07 Oct 2025.

AGM
Mahindra And Mahindra Limited last Annual general meeting of members was held on 30 Jul 2026 as per latest MCA records.
Filing
Mahindra And Mahindra Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Charges
A charge registered on 24 Jun 1998 via Charge ID 80017447 with Icici Limited was fully satisfied on 10 Nov 2025.
Charges
A charge registered on 24 Jun 1998 via Charge ID 80017449 with Icici Limited was fully satisfied on 10 Nov 2025.
Charges
A charge registered on 16 Jan 1997 via Charge ID 80017450 with Icici Limited was fully satisfied on 10 Nov 2025.
Charges
A charge registered on 30 Mar 1990 via Charge ID 80017432 with Icici Limited was fully satisfied on 10 Nov 2025.
Appointed
Muthu Raju Paravasa Raju Vijay Kumar was appointed as Director.
Appointed
Samina Hamied was appointed as Director.
Ceased
Divya Ligory Mascarenhas ceased to be Company Secretary.
Ceased
Narayan Shankar ceased to be Company Secretary.
Charges
A charge with Others amounted to Rs. 7.12 Cr with Charge ID 101066260 was registered on 06 Mar 2025.
Charges
A charge registered on 06 Aug 2001 via Charge ID 80017445 with Bank Of Baroda was fully satisfied on 29 Oct 2024.

148 earlier events are in the company report.

News

M&M: CLSA on M&M maintains High Conviction Outperform, Target Price Rs 4650; Auto EBIT margin improved 58bps QoQ to 7.7%, while farm EBIT margin declined 176bps to 16.8%, broadly in line with expectations. CLSA retains M&M as its top auto pick, citing UV market-share gains, upcoming launches, BEV traction and capacity expansion. Concerns over tractor-volume growth are viewed as overdone, with the farm segment contributing 30% of FY28 estimated EBIT.
06 Nov 2026 · Exchange Update
M&M: Citi on M&M maintains Buy, Target Price Rs 4330; Q2 results were ahead of expectations, supported by better-than-estimated EBITDA margins. Management remains positive on UV demand, backed by capacity expansion and new launches, while LCV demand is improving. However, FY27 tractor industry growth guidance was reduced to flat from 5% earlier due to weak monsoons and low reservoir levels, particularly in Maharashtra and Karnataka.
06 Nov 2026 · Exchange Update
M&M: Bernstein on M&M maintains Outperform, Target Price Rs 4100; Weaker rainfall, declining reservoir levels and pressure on farm incomes have prompted management to lower FY27 tractor industry growth guidance to flat. Consolidated EBIT grew 19% YoY, compared with just 2% growth in standalone EBIT excluding other income, highlighting the increasing contribution from businesses beyond the core auto and farm segments.
06 Nov 2026 · Exchange Update
M&M: Aims To Boost Auto Production Capacity From 64,500 Units At The Beginning Of The Year To 82,000 By Year-End, 92,000 Next Year, And 132,000 By FY31, With New EV Capacity Hitting 12,000 By Feb-March.
06 Nov 2026 · Exchange Update
M&M: Sets Bold Growth Goals for the Next Ten Years, Targeting 8X Growth in Auto (4X Achieved), 3X in Farm (2X Achieved), 4X to 5X in Financial Services AUM, 14X in Lifespaces Pre-Sales (5X Achieved), and 50X in Aerospace Orders ($1 Billion by FY30, 28X Achieved).
06 Nov 2026 · Exchange Update
M&M: Q2 SL NET PROFIT 51B RUPEES VS 45B (YOY); EST 45B
05 Nov 2026 · Exchange Update

From our blog

Frequently asked questions

Mahindra and Mahindra is an active public limited company based in Mumbai, Maharashtra, India. The company works in commercial vehicles and fleet, within the automotive industry. It was incorporated on 02 October 1945 (81+ years old) and is registered under CIN L65990MH1945PLC004558. Listed on BSE: 500520 and NSE: M&M.

Mahindra and Mahindra reported revenue of ₹1,98,639 Cr for FY 2025-26 (up 24.8% YoY) based on consolidated financials.

Mahindra and Mahindra has 11 current directors:

The latest financial statements of Mahindra and Mahindra on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 July 2026. Year-wise statements from 2015 are in the company report.

The GSTIN of Mahindra and Mahindra is 27AAACM3025E1ZZ, registered in Maharashtra. The company has 97 GST registrations in all, of which 60 are active and 37 are cancelled or inactive. Other active GSTINs include 27AAACM3025E2ZY (Maharashtra), 27AAACM3025E3ZX (Maharashtra), 27AAACM3025E5ZV (Maharashtra).

The CIN (Corporate Identification Number) of Mahindra and Mahindra is L65990MH1945PLC004558. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Mahindra and Mahindra is a listed company as per MCA records. Its shares are listed on both BSE (code: 500520) and NSE (symbol: M&M).

Mahindra and Mahindra has 6,145 court cases on record: 2,898 filed by the company and 3,253 filed against it. 1,096 are pending. Most are in the district courts.

Mahindra and Mahindra was incorporated on 02 October 1945, making it 81+ years old. It is registered with the Registrar of Companies, Mumbai.

Mahindra and Mahindra has 83 deals on record (47 market trades, 18 secondary share transfers, 13 funding rounds), with disclosed funding of ₹4,170.16 Cr; the latest was in March 2026.

Muthu Raju Paravasa Raju Vijay Kumar was appointed as Director on 07 Oct 2025. Samina Hamied was appointed as Director on 07 Oct 2025. Divya Ligory Mascarenhas ceased to be Company Secretary on 16 Jul 2025. Mahindra and Mahindra has 36 board changes on record in total.