Mahindra & Mahindra Ltd

₹ 1,261 0.54%
25 Nov - 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 156,742 Cr.
  • Current Price 1,261
  • High / Low 1,367 / 671
  • Stock P/E 18.8
  • Book Value 406
  • Dividend Yield 0.92 %
  • ROCE 11.3 %
  • ROE 14.2 %
  • Face Value 5.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 92.7%
  • Company's working capital requirements have reduced from 18.4 days to 11.2 days

Cons

  • Stock is trading at 3.10 times its book value
  • The company has delivered a poor sales growth of 1.48% over past five years.
  • Promoter holding is low: 19.4%
  • Company has a low return on equity of 5.97% 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

Consolidated Figures in Rs. Crores / View Standalone

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
23,936 19,430 16,315 11,969 19,227 21,626 21,456 19,172 21,470 23,594 25,934 28,412 29,870
20,626 16,790 14,738 9,909 15,722 19,103 18,057 18,184 16,578 19,068 21,657 24,016 24,802
Operating Profit 3,310 2,640 1,577 2,060 3,505 2,523 3,399 987 4,892 4,526 4,278 4,397 5,068
OPM % 14% 14% 10% 17% 18% 12% 16% 5% 23% 19% 16% 15% 17%
581 604 -943 521 -244 528 347 565 690 815 1,135 677 1,348
Interest 1,526 1,526 1,561 1,593 1,589 1,516 1,403 1,300 1,285 1,211 1,222 1,219 1,382
Depreciation 1,259 852 834 820 861 847 850 802 852 919 935 960 1,092
Profit before tax 1,106 868 -1,761 168 810 687 1,493 -550 3,445 3,211 3,256 2,894 3,943
Tax % 67% 80% 0% 68% 82% 77% 23% 40% 28% 23% 20% 18% 23%
Net Profit 368 171 -1,754 55 148 160 1,150 -332 2,491 2,485 2,608 2,361 3,021
EPS in Rs 2.80 1.61 -10.74 -0.79 1.09 5.67 0.64 3.41 15.51 15.99 18.00 17.66 22.30
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
36,864 59,399 68,693 74,001 71,448 75,841 83,773 92,094 104,721 75,382 74,278 90,171 107,812
30,762 52,140 59,578 63,830 62,655 65,759 73,038 78,868 89,514 65,224 62,791 75,488 89,543
Operating Profit 6,102 7,259 9,116 10,170 8,793 10,082 10,735 13,226 15,207 10,158 11,487 14,683 18,269
OPM % 17% 12% 13% 14% 12% 13% 13% 14% 15% 13% 15% 16% 17%
521 526 841 773 800 1,399 2,077 4,366 2,676 885 1,152 3,204 3,975
Interest 1,135 1,800 2,297 2,954 3,157 3,368 3,648 3,987 5,021 6,021 6,102 5,018 5,034
Depreciation 972 1,802 2,080 2,170 2,124 2,442 2,813 3,280 3,991 3,367 3,378 3,508 3,906
Profit before tax 4,515 4,184 5,580 5,820 4,313 5,672 6,350 10,326 8,871 1,655 3,158 9,362 13,303
Tax % 29% 34% 35% 26% 40% 37% 36% 23% 32% 119% 52% 23%
Net Profit 3,175 3,060 4,129 5,154 3,381 3,554 4,051 7,958 6,017 -321 1,512 7,253 10,475
EPS in Rs 25.08 25.46 33.38 37.89 25.26 25.35 29.77 60.41 42.76 1.02 14.58 52.91 73.95
Dividend Payout % 22% 24% 19% 18% 23% 21% 22% 11% 17% 205% 54% 20%
Compounded Sales Growth
10 Years: 4%
5 Years: 1%
3 Years: -5%
TTM: 29%
Compounded Profit Growth
10 Years: 8%
5 Years: 13%
3 Years: 7%
TTM: 320%
Stock Price CAGR
10 Years: 10%
5 Years: 12%
3 Years: 33%
1 Year: 48%
Return on Equity
10 Years: 11%
5 Years: 9%
3 Years: 6%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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
294 295 295 295 296 270 271 543 544 554 555 556 556
Reserves 13,990 16,409 19,666 23,012 25,561 26,222 29,467 36,232 39,439 39,415 41,027 46,567 49,956
17,047 23,121 28,711 35,167 37,911 41,553 48,762 55,898 70,848 82,092 80,625 77,605 83,273
19,005 23,623 27,460 29,415 30,608 31,806 35,296 43,696 51,057 43,655 42,762 47,661 58,329
Total Liabilities 50,337 63,448 76,131 87,889 94,376 99,852 113,835 136,369 161,889 165,716 164,968 172,388 192,115
14,708 17,198 18,307 18,381 19,047 20,585 20,989 26,182 28,983 29,689 21,380 26,018 27,965
CWIP 1,408 1,488 1,631 2,191 3,032 2,371 4,279 4,269 4,760 6,856 7,873 6,703 1,720
Investments 4,714 5,347 6,440 8,082 10,027 11,603 14,662 16,018 18,268 19,210 28,778 30,060 32,272
29,506 39,414 49,752 59,234 62,270 65,293 73,905 89,900 109,878 109,960 106,938 109,607 130,157
Total Assets 50,337 63,448 76,131 87,889 94,376 99,852 113,835 136,369 161,889 165,716 164,968 172,388 192,115

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-577 61 -922 -244 1,055 2,385 183 682 -4,347 -1,457 17,909 9,248
-1,388 -2,968 -2,903 -4,524 -4,357 -5,506 -5,875 -5,467 -7,174 -6,870 -19,686 -3,252
1,437 4,256 4,508 5,577 1,669 2,967 6,108 6,314 13,194 6,933 406 -5,883
Net Cash Flow -528 1,349 684 810 -1,633 -154 416 1,529 1,672 -1,394 -1,370 113

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 42 33 28 28 28 28 31 34 30 34 30 26
Inventory Days 99 74 73 68 72 74 64 64 74 106 91 82
Days Payable 126 103 104 96 97 108 107 125 127 142 147 134
Cash Conversion Cycle 15 3 -3 0 3 -6 -11 -27 -23 -3 -26 -27
Working Capital Days 32 28 25 30 31 31 42 37 23 29 15 11
ROCE % 19% 16% 17% 16% 12% 14% 13% 14% 13% 8% 9% 11%

Shareholding Pattern

Numbers in percentages

28 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
19.87 19.89 19.60 19.58 19.44 19.45 19.46 19.46 19.47 19.47 19.45 19.38
33.96 33.88 34.61 34.72 37.90 38.93 40.05 38.92 38.66 37.30 37.94 38.27
27.81 28.12 29.34 30.68 28.24 27.35 26.12 27.08 27.81 28.78 28.93 28.50
0.17 0.17 0.24 0.24 0.24 0.24 0.07 0.07 0.07 0.07 0.07 0.07
13.80 13.58 11.95 10.56 10.02 9.91 10.20 10.40 9.95 10.40 9.66 9.83
4.39 4.35 4.25 4.22 4.15 4.12 4.10 4.07 4.03 3.97 3.95 3.92

Documents

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