Mahindra & Mahindra Ltd

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Mahindra & Mahindra Ltd

₹ 2,924 -0.82%
21 Nov 4:00 p.m.
mahindra.com BSE: 500520 NSE: M&M
About

Mahindra & Mahindra Ltd is one of the most diversified automobile company in India with presence across 2-wheelers, 3-wheelers, PVs, CVs, tractors & earthmovers.

It also has presence across financial services, auto components, hospitality, infrastructure, retail, logistics, steel trading and processing, IT businesses, agri, aerospace, consulting services, defence, energy and industrial equipment through its subsidiaries and group companies.

It was incorporated in 1945 by Ghulam Mohammad and two Mahindra Brothers (KC & JC Mahindra) and was later renamed as Mahindra & Mahindra in 1948.[1]

Key Points

Global Presence
The group has a presence across 22 industries, 100+ countries and operates 150+ entities on a consolidated basis. [1]

Website BSE NSE
  • Market Cap ₹ 3,63,713 Cr.
  • Current Price ₹ 2,924
  • High / Low ₹ 3,222 / 1,535
  • Stock P/E 30.6
  • Book Value ₹ 567
  • Dividend Yield 0.72 %
  • ROCE 13.6 %
  • ROE 18.4 %
  • Face Value ₹ 5.00
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Pros

  • Company has been maintaining a healthy dividend payout of 19.3%

Cons

  • Stock is trading at 5.16 times its book value
  • Promoter holding is low: 18.5%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Automobile Industry: Automobiles - Passenger Cars

Part of BSE Sensex Nifty 50 BSE 500 BSE 100 BSE 200

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
21,470 23,594 25,934 28,414 29,870 30,621 32,456 33,892 34,436 35,299 35,452 37,218 37,924
16,578 19,068 21,657 24,016 24,802 25,368 26,798 27,642 28,706 29,075 28,848 29,975 30,790
Operating Profit 4,892 4,526 4,278 4,399 5,068 5,254 5,658 6,249 5,730 6,224 6,604 7,243 7,133
OPM % 23% 19% 16% 15% 17% 17% 17% 18% 17% 18% 19% 19% 19%
690 815 1,135 675 1,348 1,184 662 1,065 812 756 750 733 1,126
Interest 1,285 1,211 1,222 1,219 1,382 1,596 1,634 1,719 1,835 1,945 1,989 2,108 2,217
Depreciation 852 919 935 960 1,092 1,110 1,194 1,128 1,139 1,123 1,335 1,248 1,302
Profit before tax 3,445 3,211 3,256 2,894 3,943 3,732 3,492 4,468 3,568 3,912 4,030 4,621 4,740
Tax % 28% 23% 20% 18% 23% 20% 14% 18% 30% 24% 22% 23% 29%
2,491 2,485 2,608 2,361 3,021 2,994 2,998 3,684 2,484 2,977 3,125 3,546 3,361
EPS in Rs 15.51 15.99 18.00 17.66 22.30 21.53 21.20 28.21 18.88 21.38 22.15 26.40 25.50
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
68,693 74,001 71,448 75,841 83,773 92,094 104,721 75,382 74,278 90,171 121,269 139,078 145,893
59,578 63,830 62,655 65,759 73,038 78,868 89,514 65,224 62,791 75,488 100,983 114,186 118,688
Operating Profit 9,116 10,170 8,793 10,082 10,735 13,226 15,207 10,158 11,487 14,683 20,285 24,892 27,204
OPM % 13% 14% 12% 13% 13% 14% 15% 13% 15% 16% 17% 18% 19%
841 773 800 1,399 2,077 4,366 2,676 885 1,152 3,204 3,961 3,298 3,365
Interest 2,297 2,954 3,157 3,368 3,648 3,987 5,021 6,021 6,102 5,018 5,830 7,488 8,259
Depreciation 2,080 2,170 2,124 2,442 2,813 3,280 3,991 3,367 3,378 3,508 4,357 4,724 5,007
Profit before tax 5,580 5,820 4,313 5,672 6,350 10,326 8,871 1,655 3,158 9,362 14,060 15,978 17,303
Tax % 35% 26% 40% 37% 36% 23% 32% 119% 52% 23% 19% 23%
4,129 5,154 3,381 3,554 4,051 7,958 6,017 -321 1,512 7,253 11,374 12,270 13,009
EPS in Rs 33.38 37.89 25.26 25.35 29.77 60.41 42.76 1.02 14.58 52.91 82.68 90.62 95.43
Dividend Payout % 19% 18% 23% 21% 22% 11% 17% 205% 54% 20% 18% 21%
Compounded Sales Growth
10 Years: 7%
5 Years: 6%
3 Years: 23%
TTM: 11%
Compounded Profit Growth
10 Years: 10%
5 Years: 17%
3 Years: 80%
TTM: 10%
Stock Price CAGR
10 Years: 17%
5 Years: 40%
3 Years: 48%
1 Year: 90%
Return on Equity
10 Years: 13%
5 Years: 12%
3 Years: 17%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 295 295 296 270 311 543 544 554 555 556 557 557 558
Reserves 19,666 23,012 25,561 26,222 29,467 36,232 39,439 39,415 41,027 46,567 55,809 65,633 69,944
28,711 35,167 37,911 41,553 48,762 55,898 70,848 82,092 80,625 77,605 92,247 108,647 116,844
27,460 29,415 30,608 31,806 35,296 43,696 51,057 43,655 42,762 47,661 55,670 59,884 67,934
Total Liabilities 76,131 87,889 94,376 99,852 113,835 136,369 161,889 165,716 164,968 172,388 204,283 234,722 255,280
18,307 18,381 19,047 20,585 20,989 26,182 28,983 29,689 21,380 26,018 27,140 28,129 35,328
CWIP 1,631 2,191 3,032 2,371 4,279 4,269 4,760 6,856 7,873 6,703 3,969 8,039 4,544
Investments 6,440 8,082 10,027 11,603 14,662 16,018 18,268 19,210 28,778 30,060 35,272 35,208 34,411
49,752 59,234 62,270 65,293 73,905 89,900 109,878 109,960 106,938 109,607 137,902 163,345 180,997
Total Assets 76,131 87,889 94,376 99,852 113,835 136,369 161,889 165,716 164,968 172,388 204,283 234,722 255,280

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-922 -244 1,055 2,385 183 682 -4,347 -1,457 17,909 9,248 -7,074 -5,630
-2,903 -4,524 -4,357 -5,506 -5,875 -5,467 -7,174 -6,870 -19,686 -3,252 -8,866 -5,615
4,508 5,577 1,669 2,967 6,108 6,314 13,194 6,933 406 -5,883 15,946 12,281
Net Cash Flow 684 810 -1,633 -154 416 1,529 1,672 -1,394 -1,370 113 6 1,037

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 28 28 28 28 31 34 30 34 30 26 21 20
Inventory Days 73 68 72 74 64 64 74 106 91 82 83 81
Days Payable 104 96 97 108 107 125 127 142 147 134 118 112
Cash Conversion Cycle -3 0 3 -6 -11 -27 -23 -3 -26 -27 -13 -11
Working Capital Days 25 30 31 31 42 37 23 29 15 95 89 87
ROCE % 15% 14% 11% 13% 12% 13% 12% 7% 8% 11% 13% 14%

Shareholding Pattern

Numbers in percentages

39 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
19.47% 19.47% 19.45% 19.38% 19.39% 19.37% 19.37% 19.33% 19.33% 18.58% 18.55% 18.53%
38.66% 37.30% 37.94% 38.27% 39.16% 39.24% 40.14% 40.26% 40.86% 41.75% 41.90% 41.18%
27.81% 28.78% 28.93% 28.50% 27.72% 27.66% 26.89% 26.79% 26.26% 26.13% 26.18% 27.04%
0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
9.95% 10.40% 9.66% 9.83% 9.77% 9.81% 9.71% 9.73% 9.71% 9.70% 9.57% 9.44%
4.03% 3.97% 3.95% 3.92% 3.88% 3.85% 3.83% 3.80% 3.77% 3.75% 3.73% 3.69%
No. of Shareholders 5,68,6036,32,8165,81,2886,49,3416,36,9566,47,1416,36,9846,75,6216,90,0067,21,6727,56,2597,99,531

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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