This is a numbers-first look at Mahindra & Mahindra Ltd. (M&M), covering income trends, margins, valuation, and shareholding.
Mahindra & Mahindra Revenue Trend
For FY2026, Mahindra & Mahindra Ltd. recorded revenue of ₹1,98,638 Cr. That's 24.8% higher than the ₹1,59,210 Cr it brought in during FY2025.
Looking at the longer trend, Mahindra & Mahindra Ltd.'s revenue grew from ₹78,016 Cr to ₹1,98,638 Cr at a 9.8% CAGR — moderate, consistent growth.
At ₹1,98,638 Cr in annual revenue, Mahindra & Mahindra Ltd. is one of the major players in the automobiles - 4 wheelers space.
The consistency stands out: 5 consecutive years of growth in top-line revenue.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹1,98,638 Cr | +24.8% |
| FY2025 | ₹1,59,210 Cr | +14.5% |
| FY2024 | ₹1,39,078 Cr | +13.6% |
| FY2023 | ₹1,22,475 Cr | +34.4% |
| FY2022 | ₹91,105 Cr | — |
View Mahindra & Mahindra Ltd.'s full 10-year revenue trend with CAGR analysis →
Mahindra & Mahindra Profitability
A 32.3% improvement in net profit took Mahindra & Mahindra Ltd.'s bottom line to ₹18,622 Cr in FY2026.
Net margin expanded to 9.4% in FY2026, up from 8.8% a year prior.
Per-share earnings moved to ₹152.18 in FY2026 from ₹115.06 in FY2025.
Is Mahindra & Mahindra Undervalued
Mahindra & Mahindra Ltd. shares are currently trading at ₹3,428.60.
Craytheon calculates intrinsic value using the P/E Ratio and EPS Growth models. Both appear in the Valuation Models cards below.
Valuation Models
Mahindra & Mahindra Shareholding Pattern
Promoter holding has remained stable at 18.4% over the past 4 quarters, indicating confidence in the company's direction.
FII holding stands at 34.9%, down from 38.0% in the year-ago quarter.
Domestic investors held 32.6% of the company as of June 2026, up year-over-year from 30.0%.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Jun 2026 | 18.4% | 34.9% | 32.6% | 10.5% |
| Mar 2026 | 18.4% | 36.2% | 31.5% | 10.2% |
| Dec 2025 | 18.4% | 37.5% | 30.4% | 10.0% |
| Sep 2025 | 18.4% | 38.0% | 30.0% | 9.9% |
Track quarterly shareholding changes for Mahindra & Mahindra Ltd. →
Mahindra & Mahindra Balance Sheet
Proportional view as of 3 Aug 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2026 total assets: ₹3,176.35B (up 14.4% YoY from ₹2,775.86B).
Top categories: Other Assets (61.5%), Property, Plant & Equipment (9.9%), Cash & ST Investments (7.9%).
Of the ₹3,176.35B in liabilities and equity, 34.5% is shareholder equity, 42.2% is interest-bearing debt, and 23.4% is operating liabilities. Over the year, debt is up 7.2% and equity is up 22.9%.
Balance sheet composition — FY 2026
| Category | Value |
|---|---|
| Cash & ST Investments | 250.97B |
| Receivables | 92.72B |
| Inventories | 220.44B |
| Property, Plant & Equipment | 313.80B |
| Investments | 195.19B |
| Intangibles & Goodwill | 148.19B |
| Other Assets | 1,955.03B |
| Category | Value |
|---|---|
| Equity | 1,094.91B |
| Short-term Debt | 568.41B |
| Long-term Debt | 771.22B |
| Trade Payables | 378.89B |
| Other Liabilities | 362.92B |
What Stands Out About Mahindra & Mahindra
What should investors take away from Mahindra & Mahindra Ltd.'s (M&M) latest numbers? Here's the summary.
Revenue of ₹1,98,638 Cr in FY2026, up 24.8% year-over-year.
Long-term revenue has been compounding at 9.8% annually over 10 years.
The company is profitable, with a net margin of 9.4% and net income of ₹18,622 Cr.
Unlock Full Analysis
See the full picture — Craytheon tracks 10 years of financial data with interactive charts, growth trends, and three valuation models for Mahindra & Mahindra Ltd..