M&M share price, P/E, ROE & financials

Mahindra & Mahindra (M&M) had a P/E of 19.0× on 6 Nov 2026, below the industry P/E of 33.1×, and the shares are 14% below their 52-week high. Its ROCE of 17% is the lowest among the 7 largest Auto Manufacturers peers, and sales and net profit grew 17% and 18% a year over 3 years. Its dividend yield is 1.0%, and debt is 1.33× equity. It is a large-cap company with a market cap of ₹3.9 lakh crore, ranked 2nd of 20 Auto Manufacturers companies by market cap; the shares fell 13% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹3,199.90
Day high: ₹3,287.20
Day low: ₹3,130.10
Prev. close: ₹3,127.50
Volume: 85.1 L

Health check

2 good · 2 fair · 2 to check

ReturnsBehind
−12.7% over a year, better than 1 of 7 peers.
Price tagCheaper
P/E 19.0 vs industry 33.1.
GrowthSteady
Sales +17.5%, profit +18.5% a year over 3 years.
ProfitabilityWeak
ROCE 17.1% vs peer median 26.4%.
Balance sheetFair
Debt 1.33× equity, interest covered 3.7×, Piotroski 6 of 9.
Red flagsNone found
No warning signs in the headline numbers.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Auto Manufacturers

19 listed peers. Screen the industry

Large cap

₹3.9L Cr, #2 of 20 in its industry by size.

Defensive

Beta 0.29 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹2,26,586 Cr · profit ₹19,385 Cr

Market cap: ₹3.9L Cr; Large cap
P/E: 19.0; Industry 33.1
Price to book: 3.75; Peers 8.38
Dividend yield: 1.00%
ROE: 20.1%; Peers 26.0%
ROCE: 17.1%; Peers 26.4%
Debt to equity: 1.33; Debt ₹1.5L Cr
EPS (TTM): ₹172.65; Face value ₹5
OPM (TTM): 18.1%; Net margin 8.6%
Sales growth: +25.6%; Latest quarter vs a year ago
Profit growth: +25.8%; Latest quarter vs a year ago
Price to sales: 1.74; EV/EBITDA 11.3

Strengths

Return on equity of 20.1%.
Quarterly profit up 25.8% on a year ago.
Quarterly sales up 25.6% on a year ago.
P/E of 19.0 against an industry P/E of 33.1.

No obvious red flags in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About Mahindra & Mahindra

Mahindra & Mahindra Limited provides mobility products and farm solutions in India and internationally. It operates through Automotive; Farm Equipment; Auto Investments; Farm Investments; and Investments in Industrial Businesses and Consumer Services segments. The Automotive segment provides automobiles, two wheelers, spares, construction equipment and related services. The Farm Equipment segment sells tractors, implements, spares, powerol, and related…

Headquarters: Mumbai
Employees: 26,765
Sector: Consumer Cyclical
ISIN: INE101A01026
Website: mahindra.com

Price range

52 weeks

₹2,744.30₹3,839.90

Today

₹3,130.10₹3,287.20

Avg volume (3M): 23.5 L
1-year return: minus 12.7%
From 52-week high: minus 14.4%

Analyst consensus

35 analysts

Strong buyMean target ₹4,011.83 22.0%

Target range, with today’s price

Low ₹3,237.00High ₹4,650.00

Consensus from Yahoo Finance. Not a recommendation.

Peers · Auto Manufacturers

Compare with peers Screen the whole industry

Company
MARUTIMaruti Suzuki India	12,750.00	plus 0.77%	4,00,863	29.8	3.68	17.2%	12.9%	10.2%	15.9%	21.1%	1.10%	minus 17.7%
M&MMahindra & Mahindra	3,287.20	plus 5.11%	3,94,715	19.0	3.75	17.1%	20.1%	18.2%	17.5%	18.5%	1.00%	minus 12.7%
BAJAJ-AUTOBajaj Auto	10,900.00	plus 1.32%	2,99,536	23.3	8.21	26.1%	35.6%	21.0%	19.5%	21.0%	1.38%	plus 22.9%
TVSMOTORTVS Motor Company	4,491.70	plus 0.94%	2,13,457	55.8	18.81	28.8%	37.2%	14.5%	20.2%	31.4%	0.27%	plus 28.1%
EICHERMOTEicher Motors	7,669.50	minus 0.56%	2,10,544	36.5	8.38	26.4%	23.8%	25.2%	17.5%	23.7%	1.07%	plus 11.3%
HYUNDAIHyundai Motor India	2,130.00	plus 0.42%	1,73,071	37.8	8.50	32.6%	24.1%	10.3%	5.5%	4.9%	0.99%	minus 11.4%
TMCVTata Motors	425.50	minus 0.83%	1,56,704	24.8	10.26	25.5%	26.0%	10.4%	–	–	0.94%	plus 29.2%
HEROMOTOCOHero MotoCorp	5,513.00	minus 0.02%	1,10,349	18.4	4.71	31.9%	26.9%	14.0%	11.7%	26.9%	3.36%	plus 3.9%
Median of 7 peers	–	0.42%	2,10,544	29.8	8.38	26.4%	26.0%	14.0%	16.7%	22.4%	1.07%	11.3%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Jun 25	Dec 25	Mar 26	Jun 26	Sep 26
45,436	51,580	54,892	57,533	57,515
37,117	41,939	44,855	47,360	47,277
8,319	9,641	10,036	10,173	10,238
18.3%	18.7%	18.3%	17.7%	17.8%
1,304	1,789	1,228	1,775	1,640
2,431	2,405	2,407	2,560	2,682
1,548	2,163	1,943	1,760	1,832
–	−293	–	–	–
5,644	6,569	6,914	7,628	7,365
22.5%	23.6%	23.9%	21.4%	29.8%
4,083	4,675	4,668	5,455	4,588
36.43	41.69	41.48	48.59	40.90

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +17.5%
Profit CAGR 3Y: +18.5%
EPS CAGR 3Y: +18.3%
ROE: 20.1%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
1,19,040	1,35,803	1,55,645	1,93,098
–	+14.1%	+14.6%	+24.1%
98,723	1,11,657	1,25,510	1,56,380
20,317	24,146	30,135	36,718
17.1%	17.8%	19.4%	19.0%
2,033	2,124	3,537	4,631
5,699	7,334	8,854	9,354
4,329	4,536	5,558	6,690
1,738	1,578	−181	−121
14,060	15,978	19,080	25,185
19.1%	23.2%	26.2%	26.1%
10,282	11,269	12,929	17,099
–	+9.6%	+14.7%	+32.3%
91.96	100.70	115.06	152.18

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
557	557	558	559
55,809	65,633	76,481	92,538
92,247	1,06,626	1,24,949	1,33,963
57,279	63,485	75,598	90,575
2,05,892	2,36,301	2,77,586	3,17,635
22,878	27,327	30,831	33,129
2,527	5,918	4,996	4,117
8,524	9,983	5,275	7,878
26,458	25,746	41,872	51,340
1,45,505	1,67,327	1,94,611	2,21,171
2,05,892	2,36,301	2,77,586	3,17,635

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
−7,074	−5,630	3,176	11,657
−8,547	−5,598	−18,626	−17,707
15,946	12,281	15,834	5,391
325	1,054	384	−659
−6,305	−9,946	−10,392	−9,605
−13,379	−15,576	−7,216	2,052
−1,285	−1,811	−2,349	−2,821

Shareholding pattern

Source: NSE filings

18.4%

promoters

Promoters18.39%
Public78.16%
Employee trusts3.45%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	18.39%	78.16%	minus 0.06
30 Jun 2026	18.45%	78.08%	0.00
31 Mar 2026	18.45%	78.05%	plus 0.01
31 Dec 2025	18.44%	78.04%	0.00
30 Sep 2025	18.44%	78.01%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you