Mahindra & Mahindra Ltd

₹ 1,320 0.66%
27 Jan - close price
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]

  • Market Cap 164,126 Cr.
  • Current Price 1,320
  • High / Low 1,367 / 671
  • Stock P/E 26.1
  • Book Value 331
  • Dividend Yield 0.87 %
  • ROCE 15.1 %
  • ROE 13.8 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 51.8%

Cons

  • Stock is trading at 3.99 times its book value
  • The company has delivered a poor sales growth of 5.45% over past five years.
  • Promoter holding is low: 19.4%
  • Company has a low return on equity of 9.46% 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
11,076 12,345 9,144 5,589 11,590 14,057 13,356 11,765 13,314 15,243 17,124 19,613 20,839
9,685 10,696 8,009 5,016 9,533 11,671 11,401 10,133 11,654 13,438 15,178 17,272 18,343
Operating Profit 1,391 1,650 1,135 573 2,057 2,386 1,955 1,631 1,661 1,805 1,946 2,341 2,496
OPM % 13% 13% 12% 10% 18% 17% 15% 14% 12% 12% 11% 12% 12%
828 -394 -2,466 163 -766 -652 -635 128 851 525 363 198 1,078
Interest 30 22 33 77 118 104 96 71 42 53 56 70 64
Depreciation 540 554 584 581 587 604 590 559 581 631 680 681 776
Profit before tax 1,649 679 -1,948 78 587 1,025 635 1,129 1,888 1,645 1,573 1,788 2,735
Tax % 26% 55% -28% 13% 72% 48% 61% 24% 24% 18% 18% 20% 24%
Net Profit 1,213 307 -2,502 68 162 531 245 857 1,433 1,353 1,292 1,430 2,090
EPS in Rs 9.75 2.47 -20.13 0.55 1.30 4.27 1.97 6.89 11.53 10.88 10.39 11.50 16.81
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
23,460 31,847 40,441 40,508 38,445 40,875 44,054 48,686 53,614 45,488 44,630 57,446 72,819
20,006 28,083 35,732 35,787 34,271 36,255 39,539 42,462 46,974 39,690 37,672 50,404 64,231
Operating Profit 3,454 3,764 4,709 4,722 4,173 4,620 4,515 6,224 6,640 5,798 6,957 7,042 8,588
OPM % 15% 12% 12% 12% 11% 11% 10% 13% 12% 13% 16% 12% 12%
552 580 640 770 1,185 919 1,894 1,470 1,659 -346 -1,888 1,867 2,164
Interest 72 163 191 259 214 186 160 112 113 113 396 223 243
Depreciation 414 576 711 863 975 1,068 1,526 1,479 1,860 2,223 2,370 2,451 2,768
Profit before tax 3,520 3,606 4,447 4,369 4,169 4,284 4,723 6,102 6,325 3,116 2,303 6,235 7,741
Tax % 24% 20% 25% 14% 20% 25% 23% 29% 24% 57% 57% 21%
Net Profit 2,662 2,879 3,353 3,758 3,321 3,205 3,643 4,356 4,796 1,331 984 4,935 6,165
EPS in Rs 21.68 23.45 27.31 30.51 26.74 25.80 29.33 35.04 38.58 10.70 7.92 39.70 49.58
Dividend Payout % 25% 26% 23% 22% 21% 22% 21% 20% 21% 21% 106% 28%
Compounded Sales Growth
10 Years: 6%
5 Years: 5%
3 Years: 2%
TTM: 39%
Compounded Profit Growth
10 Years: 6%
5 Years: 10%
3 Years: 2%
TTM: 56%
Stock Price CAGR
10 Years: 11%
5 Years: 12%
3 Years: 32%
1 Year: 52%
Return on Equity
10 Years: 14%
5 Years: 11%
3 Years: 9%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
294 295 295 295 296 296 297 595 596 597 597 598 598
Reserves 10,020 11,810 14,364 16,496 18,959 22,127 26,489 29,699 33,613 33,871 34,354 38,363 40,532
2,404 3,581 3,489 4,045 3,728 2,917 2,851 2,958 2,571 3,027 7,786 6,734 4,945
6,822 8,085 9,306 10,452 9,961 10,159 10,332 14,195 15,916 13,007 18,827 21,436 26,048
Total Liabilities 19,540 23,770 27,454 31,289 32,945 35,500 39,968 47,447 52,697 50,502 61,564 67,130 72,123
3,133 4,293 4,958 5,877 5,929 7,596 7,771 7,859 10,082 10,395 12,011 14,549 19,093
CWIP 774 795 863 1,228 2,179 1,562 2,040 3,129 2,420 4,009 6,125 5,018 1,318
Investments 8,926 10,297 11,833 11,380 13,138 13,547 17,908 20,583 22,016 19,938 21,783 25,110 25,817
6,708 8,385 9,799 12,803 11,698 12,794 12,248 15,876 18,179 16,160 21,645 22,454 25,894
Total Assets 19,540 23,770 27,454 31,289 32,945 35,500 39,968 47,447 52,697 50,502 61,564 67,130 72,123

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
2,980 2,735 4,146 3,728 3,219 5,470 3,971 7,027 4,924 3,678 9,594 7,094
-3,733 -1,804 -2,896 -2,362 -2,423 -3,538 -3,221 -5,110 -2,549 -2,576 -14,564 -4,359
-384 -306 -1,222 -824 -1,585 -2,007 -1,056 -1,033 -1,555 -1,015 3,514 -2,885
Net Cash Flow -1,137 625 28 542 -788 -75 -305 884 820 86 -1,456 -150

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 20 22 20 23 24 22 24 24 27 24 18 19
Inventory Days 38 37 29 35 32 33 31 29 37 39 58 51
Days Payable 89 74 67 75 70 83 78 92 92 78 129 111
Cash Conversion Cycle -31 -15 -18 -18 -14 -27 -23 -39 -29 -15 -53 -41
Working Capital Days -29 -19 -20 -18 -24 -23 -15 -23 -16 -11 -50 -25
ROCE % 29% 25% 26% 23% 18% 18% 16% 18% 18% 14% 14% 15%

Shareholding Pattern

Numbers in percentages

19 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
19.89 19.60 19.58 19.44 19.45 19.46 19.46 19.47 19.47 19.45 19.38 19.39
33.88 34.61 34.72 37.90 38.93 40.05 38.92 38.66 37.30 37.94 38.27 39.16
28.12 29.34 30.68 28.24 27.35 26.12 27.08 27.81 28.78 28.93 28.50 27.72
0.17 0.24 0.24 0.24 0.24 0.07 0.07 0.07 0.07 0.07 0.07 0.07
13.58 11.95 10.56 10.02 9.91 10.20 10.40 9.95 10.40 9.66 9.83 9.77
4.35 4.25 4.22 4.15 4.12 4.10 4.07 4.03 3.97 3.95 3.92 3.88

* 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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