Financials of Mahindra & Mahindra Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Mahindra & Mahindra Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +32,45633,89234,43635,29935,45237,21837,92441,47042,59945,52946,10652,10054,982
Expenses +26,79827,64228,70629,07528,84829,97530,79033,23934,65837,30137,16641,93944,855
Operating Profit5,6586,2495,7306,2246,6047,2437,1338,2317,9428,2288,94010,16010,127
OPM %17%18%17%18%19%19%19%20%19%18%19%20%18%
Other Income +6621,0658127567507331,1267191,1101,3951,1349761,137
Interest1,6341,7191,8351,9451,9892,1082,2172,3622,3972,4312,3472,4052,407
Depreciation1,1941,1281,1391,1231,3351,2481,3021,4952,0291,5481,6692,1631,943
Profit before tax3,4924,4683,5683,9124,0304,6214,7405,0924,6275,6446,0586,5696,914
Tax %14%18%30%24%22%23%29%29%23%22%35%24%24%
Net Profit +2,9983,6842,4842,9773,1253,5463,3613,6243,5424,3773,9645,0215,260
EPS in Rs21.2028.2118.8821.3822.1526.4025.5025.5826.5032.8429.5437.5937.53

Financials of Mahindra & Mahindra Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +71,44875,84183,77392,094104,72175,38274,27890,171121,269139,078159,211198,639
Expenses +62,65565,75973,03878,86889,51465,22462,79175,488100,983114,186128,693161,077
Operating Profit8,79310,08210,73513,22615,20710,15811,48714,68320,28524,89230,51837,561
OPM %12%13%13%14%15%13%15%16%17%18%19%19%
Other Income +8001,3992,0774,3662,6768851,1523,2043,9613,2983,7184,536
Interest3,1573,3683,6483,9875,0216,0216,1025,0185,8307,4889,0839,591
Depreciation2,1242,4422,8133,2803,9913,3673,3783,5084,3574,7246,0747,322
Profit before tax4,3135,6726,35010,3268,8711,6553,1589,36214,06015,97819,08025,185
Tax %40%37%36%23%32%119%52%23%19%23%26%26%
Net Profit +3,3813,5544,0517,9586,017-3211,5127,25311,37412,27014,07318,622
EPS in Rs25.2625.3529.7760.4142.761.0214.5852.9182.6890.62103.97137.50
Dividend Payout %23%21%22%11%17%205%54%20%18%21%22%22%

Financials of Mahindra & Mahindra Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital296270311543544554555556557557558559
Reserves25,56126,22229,46736,23239,43939,41541,02746,56755,80965,63376,48192,538
Borrowings +37,91141,55348,76255,89870,84882,09280,62577,60592,247108,647129,025133,963
Other Liabilities +30,60831,80635,29643,69651,05743,65542,76247,66155,67059,88469,95090,575
Total Liabilities94,37699,852113,835136,369161,889165,716164,968172,388204,283234,722276,013317,635
Fixed Assets +19,04720,58520,98926,18228,98329,68921,38026,01827,14028,12934,63643,831
CWIP3,0322,3714,2794,2694,7606,8567,8736,7033,9698,0398,2982,368
Investments10,02711,60314,66216,01818,26819,21028,77830,06035,27235,20841,30940,324
Other Assets +62,27065,29373,90589,900109,878109,960106,938109,607137,902163,345191,771231,112
Total Assets94,37699,852113,835136,369161,889165,716164,968172,388204,283234,722276,013317,635

Financials of Mahindra & Mahindra Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +1,0552,385183682-4,347-1,45717,9099,248-7,074-5,6303,17611,657
Cash from Investing Activity +-4,357-5,506-5,875-5,467-7,174-6,870-19,686-3,252-8,866-5,615-18,616-17,707
Cash from Financing Activity +1,6692,9676,1086,31413,1946,933406-5,88315,94612,28115,8345,391
Net Cash Flow-1,633-1544161,5291,672-1,394-1,37011361,037394-659
Free Cash Flow-3,661-1,729-4,780-5,109-11,546-8,25113,2833,328-13,241-15,303-6,6332,545
CFO/OP31%43%20%25%-9%8%172%74%-21%-7%26%48%

Financials of Mahindra & Mahindra Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days282831343034302621201917
Inventory Days7274646474106918283817865
Days Payable97108107125127142147134118112118112
Cash Conversion Cycle3-6-11-27-23-3-26-27-13-11-21-30
Working Capital Days-5-3-2-8-14-20-11-13-14-8-14-2
ROCE %11%13%12%13%12%7%8%11%13%14%14%15%