Mahindra & Mahindra Key Ratios
NSE: M&M | BSE: 500520
₹3,150.00
As on 09-Sep-2026IST
Market cap
₹3,91,712 Cr
Revenue (TTM)
₹2,11,375 Cr
P/E Ratio
21.2
P/B Ratio
4
Div. Yield
1 %
Key Ratios and Highlights
| Growth Score (%) | Quarterly | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | QoQ | YoY | 1-Year | 3-Years | 5-Years |
| Revenue | 5.95 | 22.89 | 23.84 | 19.67 | 25.10 |
| EBIT | -4.87 | 8.00 | 25.15 | 25.16 | 26.60 |
| Net Profit | -1.40 | 6.82 | 25.65 | 20.80 | 38.85 |
| EPS | -1.43 | 6.69 | 24.93 | 26.02 | 54.46 |
| Book Value | -- | -- | 20.34 | 19.52 | 16.16 |
| Key Ratios (%) | Average | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | 3-Years | 5-Years | TTM | Mar-26 | Mar-25 |
| EBIT-Margin
| 10.28 | 9.43 | 15.04 | 11.00 | 10.34 |
| Net Margin
| 10.17 | 9.22 | 8.56 | 10.38 | 9.84 |
| Return on equity
| 22.16 | 19.21 | 21.25 | 23.15 | 20.93 |
| Return on Capital
| 28.23 | 23.70 | -- | 30.35 | 27.42 |
| Return on Assets
| 13.49 | 11.45 | 6.18 | 14.20 | 12.93 |
| Debt to Equity (x)
| -- | -- | 0.79 | 0.01 | 0.02 |
Profitability
ROCE
--
--
Earning before interest and taxes / (Average net worth + Average total Debt) * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
--
|
16.29
|
15.12
|
14.88
|
15.02
|
|
Peer Median
|
--
|
30.35
|
24.06
|
13.62
|
--
|
ROE
21.25
Higher than Peers by 1.11
Profit after tax / Average Net worth * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
21.25
|
22.00
|
19.73
|
20.11
|
22.09
|
|
Peer Median
|
20.14
|
23.15
|
39.45
|
12.85
|
--
|
ROA
6.18
Lower than Peers by 5.51
Profit after tax / Average Total assets * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
6.18
|
6.29
|
5.51
|
5.59
|
6.04
|
|
Peer Median
|
11.69
|
11.85
|
12.52
|
5.75
|
--
|
EBIT Margin
15.04
Higher than Peers by 6.23
Operating profit (EBIT) / Net Sales * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
15.04
|
14.57
|
15.11
|
14.01
|
13.09
|
|
Peer Median
|
8.80
|
7.48
|
9.43
|
8.35
|
--
|
Net Margin
8.56
Higher than Peers by 0.59
Net profit / Total Income (Net sales plus other income) * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
8.56
|
9.21
|
8.71
|
8.68
|
9.27
|
|
Peer Median
|
7.96
|
7.57
|
8.50
|
3.97
|
--
|
Cash Profit Margin
--
--
(Net profit + Depreciation) / Gross Sales * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
--
|
12.57
|
12.21
|
11.74
|
12.45
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Revenue Growth
26.18
Higher than Peers by 14.70
Year on year growth in net sales
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
26.18
|
24.59
|
14.80
|
14.03
|
34.49
|
|
Peer Median
|
11.48
|
18.04
|
9.89
|
20.23
|
--
|
EBIT Growth
26.47
Higher than Peers by 6.56
Year on year growth in operating profit (EBIT)
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
26.47
|
20.13
|
23.82
|
22.01
|
43.37
|
|
Peer Median
|
19.91
|
3.32
|
23.38
|
149.33
|
--
|
Net Profit Growth
25.65
Higher than Peers by 12.87
Year on year growth in profit after tax
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
25.65
|
32.32
|
14.70
|
7.87
|
56.82
|
|
Peer Median
|
12.78
|
-2.27
|
11.39
|
253.84
|
--
|
EPS Growth
24.93
Higher than Peers by 6.93
Year on year growth in earnings per share
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
24.93
|
32.10
|
14.58
|
9.49
|
56.10
|
|
Peer Median
|
18.01
|
-1.37
|
11.39
|
230.04
|
--
|
Book Value Growth
--
--
Year on year growth in book value per share
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
--
|
20.67
|
16.45
|
17.44
|
19.63
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Solvency
Debt to Equity
0.79
Higher than Peers by 0.76
Total debt / Net worth
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
0.79
|
1.43
|
1.63
|
1.60
|
1.59
|
|
Peer Median
|
0.03
|
0.05
|
0.07
|
0.78
|
--
|
Short term debt to equity ratio
--
--
(Short term borrowings / Net worth)
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
--
|
0.20
|
0.11
|
0.17
|
0.16
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Current Ratio
1.27
Higher than Peers by 0.20
Current Assets / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
1.27
|
1.27
|
1.40
|
1.30
|
1.29
|
|
Peer Median
|
1.07
|
1.25
|
1.01
|
0.88
|
--
|
Quick Ratio
1.08
Higher than Peers by 0.40
(Current Assets - Inventory) / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
1.08
|
1.08
|
1.18
|
1.05
|
1.05
|
|
Peer Median
|
0.68
|
0.76
|
0.74
|
0.68
|
--
|
Interest Coverage
3.60
Lower than Peers by 14.33
Earning before interest and taxes (EBIT) / Interest Expenses
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
3.60
|
3.60
|
3.08
|
3.10
|
3.34
|
|
Peer Median
|
17.93
|
62.84
|
53.13
|
10.27
|
--
|
Operating Efficiency
Debtors to sales
4.29
Higher than Peers by 0.01
Debtors outstanding / Net Sales * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
4.29
|
4.58
|
5.22
|
5.39
|
5.80
|
|
Peer Median
|
4.28
|
3.67
|
4.83
|
6.11
|
--
|
Asset Turnover
0.71
Lower than Peers by 0.60
Sales / Average Total Assets
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
0.71
|
0.70
|
0.65
|
0.66
|
0.67
|
|
Peer Median
|
1.31
|
1.41
|
1.29
|
1.34
|
--
|
Receivable days
--
--
Average Debtors / Sales * 365
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
--
|
15.33
|
17.40
|
18.26
|
19.36
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Inventory Days
--
--
Average Inventory / Sales * 365
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
--
|
37.46
|
43.03
|
44.68
|
41.11
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Payable days
--
--
Average Creditors / Cost of goods sold * 365
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
--
|
95.02
|
100.70
|
101.53
|
98.58
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Cash Conversion Cycle
--
--
Receivable Days + Inventory Days - Payable Days
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
--
|
-42.24
|
-40.26
|
-38.60
|
-38.11
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Valuation
Price / Earnings
21.21
Lower than Peers by 0.07
Current share price divided by earning per share in the last twelve months
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
21.21
|
19.32
|
23.02
|
19.01
|
12.55
|
|
Peer Median
|
21.28
|
27.72
|
27.00
|
27.97
|
--
|
Price / Book Value
3.99
Higher than Peers by 0.39
Current share price divided by book value per share in the latest financial year
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
3.99
|
3.57
|
3.88
|
3.25
|
2.30
|
|
Peer Median
|
3.60
|
4.00
|
4.86
|
4.65
|
--
|
Dividend Yield
1.05
Higher than Peers by 0.00
Dividend per share in the past twelve months divided by current share price
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
1.05
|
1.12
|
0.95
|
1.10
|
1.40
|
|
Peer Median
|
1.04
|
0.98
|
0.84
|
0.80
|
--
|
EV/EBITDA
11.49
--
Enterprise Value (Current Market Capitalisation + Total Debt - Cash & Equivalents) / Earnings before interest, taxes, depreciation and taxes (EBITDA)
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
11.49
|
10.64
|
12.27
|
11.31
|
9.55
|
|
Peer Median
|
--
|
25.85
|
22.00
|
51.34
|
--
|
Market Cap
3,91,712
Lower than Peers by 1,244
Current Share price multiplied by latest total number of shares outstanding
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Mahindra & Mahindra
|
3,91,712
|
3,30,373
|
2,97,640
|
2,14,181
|
1,29,018
|
|
Peer Median
|
3,92,955
|
1,80,169
|
2,64,384
|
3,08,704
|
--
|