Mahindra & Mahindra Ltd

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Mahindra & Mahindra Ltd

₹ 2,060 0.08%
25 Apr 9:43 a.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 ₹ 2,56,179 Cr.
  • Current Price ₹ 2,060
  • High / Low ₹ 2,133 / 1,208
  • Stock P/E 23.8
  • Book Value ₹ 383
  • Dividend Yield 0.80 %
  • ROCE 20.4 %
  • ROE 18.2 %
  • Face Value ₹ 5.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 54.8%

Cons

  • Promoter holding has decreased over last quarter: -0.73%
  • Promoter holding is low: 18.6%
  • Company has a low return on equity of 13.4% over last 3 years.

* 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
14,057 13,356 11,765 13,314 15,349 17,238 19,813 22,105 22,113 22,614 24,368 25,773 25,642
11,671 11,401 10,133 11,654 13,546 15,302 17,391 18,513 18,840 19,774 20,821 21,244 22,052
Operating Profit 2,386 1,955 1,631 1,661 1,803 1,936 2,422 3,592 3,273 2,840 3,547 4,529 3,590
OPM % 17% 15% 14% 12% 12% 11% 12% 16% 15% 13% 15% 18% 14%
-652 -635 128 851 517 355 99 -30 -418 -220 658 687 383
Interest 104 96 71 42 54 56 70 64 69 70 32 33 35
Depreciation 604 590 559 581 645 693 695 791 829 839 828 816 818
Profit before tax 1,025 635 1,129 1,888 1,621 1,541 1,755 2,707 1,958 1,711 3,345 4,367 3,121
Tax % 48% 61% 24% 24% 18% 18% 20% 24% 22% 9% 17% 21% 21%
531 245 857 1,433 1,335 1,269 1,404 2,068 1,528 1,549 2,774 3,452 2,454
EPS in Rs 4.27 1.97 6.89 11.53 10.74 10.20 11.29 16.63 12.29 12.46 22.31 27.76 19.73
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
31,847 40,441 40,508 38,445 40,875 44,054 48,686 53,614 45,488 44,630 57,787 84,960 98,397
28,083 35,732 35,787 34,271 36,255 39,539 42,462 46,974 39,690 37,672 50,759 74,518 83,891
Operating Profit 3,764 4,709 4,722 4,173 4,620 4,515 6,224 6,640 5,798 6,957 7,027 10,442 14,506
OPM % 12% 12% 12% 11% 11% 10% 13% 12% 13% 16% 12% 12% 15%
580 640 770 1,185 919 1,894 1,470 1,659 -346 -1,888 1,845 1,116 1,508
Interest 163 191 259 214 186 160 112 113 113 396 226 273 170
Depreciation 576 711 863 975 1,068 1,526 1,479 1,860 2,223 2,370 2,498 3,154 3,300
Profit before tax 3,606 4,447 4,369 4,169 4,284 4,723 6,102 6,325 3,116 2,303 6,148 8,131 12,544
Tax % 20% 25% 14% 20% 25% 23% 29% 24% 57% 57% 21% 19%
2,879 3,353 3,758 3,321 3,205 3,643 4,356 4,796 1,331 984 4,870 6,549 10,229
EPS in Rs 23.45 27.31 30.51 26.74 25.80 29.33 35.04 38.58 10.70 7.92 39.17 52.66 82.26
Dividend Payout % 26% 23% 22% 21% 22% 21% 20% 21% 21% 106% 28% 30%
Compounded Sales Growth
10 Years: 8%
5 Years: 12%
3 Years: 23%
TTM: 21%
Compounded Profit Growth
10 Years: 9%
5 Years: 13%
3 Years: 50%
TTM: 57%
Stock Price CAGR
10 Years: 14%
5 Years: 26%
3 Years: 38%
1 Year: 70%
Return on Equity
10 Years: 14%
5 Years: 12%
3 Years: 13%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 295 295 295 296 296 297 595 596 597 597 598 599 599
Reserves 11,810 14,364 16,496 18,959 22,127 26,489 29,699 33,613 33,871 34,354 37,600 42,758 47,037
3,581 3,489 4,045 3,728 2,917 2,851 2,958 2,571 3,027 7,786 6,743 5,026 1,920
8,085 9,306 10,452 9,961 10,159 10,332 14,195 15,916 13,007 18,827 21,665 27,398 30,066
Total Liabilities 23,770 27,454 31,289 32,945 35,500 39,968 47,447 52,697 50,502 61,564 66,606 75,780 79,622
4,293 4,958 5,877 5,929 7,596 7,771 7,859 10,082 10,395 12,011 14,904 16,976 18,820
CWIP 795 863 1,228 2,179 1,562 2,040 3,129 2,420 4,009 6,125 5,263 2,785 1,450
Investments 10,297 11,833 11,380 13,138 13,547 17,908 20,583 22,016 19,938 21,783 24,204 27,087 28,150
8,385 9,799 12,803 11,698 12,794 12,248 15,876 18,179 16,160 21,645 22,235 28,932 31,202
Total Assets 23,770 27,454 31,289 32,945 35,500 39,968 47,447 52,697 50,502 61,564 66,606 75,780 79,622

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
2,735 4,146 3,728 3,219 5,470 3,971 7,027 4,924 3,678 9,594 6,977 9,129
-1,804 -2,896 -2,362 -2,423 -3,538 -3,221 -5,110 -2,549 -2,576 -14,564 -3,961 -4,753
-306 -1,222 -824 -1,585 -2,007 -1,056 -1,033 -1,555 -1,015 3,514 -3,166 -3,784
Net Cash Flow 625 28 542 -788 -75 -305 884 820 86 -1,456 -150 593

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 22 20 23 24 22 24 24 27 24 18 19 17
Inventory Days 37 29 35 32 33 31 29 37 39 58 51 50
Days Payable 74 67 75 70 83 78 92 92 78 129 111 97
Cash Conversion Cycle -15 -18 -18 -14 -27 -23 -39 -29 -15 -53 -41 -29
Working Capital Days -19 -20 -18 -24 -23 -15 -23 -16 -11 -50 -22 -13
ROCE % 25% 26% 23% 18% 18% 16% 18% 18% 14% 14% 15% 20%

Shareholding Pattern

Numbers in percentages

25 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
19.46% 19.46% 19.47% 19.47% 19.45% 19.38% 19.39% 19.37% 19.37% 19.33% 19.33% 18.58%
40.05% 38.92% 38.66% 37.30% 37.94% 38.27% 39.16% 39.24% 40.14% 40.26% 40.86% 41.75%
26.12% 27.08% 27.81% 28.78% 28.93% 28.50% 27.72% 27.66% 26.89% 26.79% 26.26% 26.13%
0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
10.20% 10.40% 9.95% 10.40% 9.66% 9.83% 9.77% 9.81% 9.71% 9.73% 9.71% 9.70%
4.10% 4.07% 4.03% 3.97% 3.95% 3.92% 3.88% 3.85% 3.83% 3.80% 3.77% 3.75%
No. of Shareholders 5,31,3695,81,7795,68,6036,32,8165,81,2886,49,3416,36,9566,47,1416,36,9846,75,6216,90,0067,21,672

* 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.

Click on the line-items to see the names of individual entities.

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