Mahindra & Mahindra logo

Mahindra & Mahindra share price

NSE: M&MBSE: 500520AutomobilesLarge Cap

Mahindra & Mahindra Limited · Face value ₹5 · Listed Feb 1956 on BSE, Jan 1996 on NSE
Last close ₹2,858.40up ₹5.30 (0.19%)BSE ₹2,860.00

Share price at the NSE close on 27 Oct 2026. Previous close ₹2,853.10.

27 Oct: open ₹2,853.10, high ₹2,868.70, low ₹2,840.00

52-week range of traded prices to 27 Oct 2026
₹2,744.30Low, 8 Oct 2026₹3,839.90High, 5 Jan 2026
Market cap
₹3,55,450 Cr14th largest listed
P/E
19.24
P/B
3.82
Dividend yield
1.15%
ROE
21.7%
ROCE
13.3%
Debt to equity
1.18
Volume, NSE
18,59,20257.5% delivered

Mahindra & Mahindra share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

−20.9%over a year · Nifty Auto −7.1% · Nifty 500 −8.8%

Results20-session average 25,90,786 shares a day, 59.0% delivered

About Mahindra & Mahindra

Mahindra & Mahindra Limited makes SUVs, pick-ups, commercial vehicles and tractors, as well as farm machinery, gensets (power generators) and construction equipment.1 It sells to urban and rural buyers, farm and other businesses, small and medium enterprises, corporates and government agencies, in India and abroad.2 It is the holding company of the Mahindra Group, whose businesses also include IT services, financial services, renewable energy, hospitality, logistics and real estate.34

Its core business is mobility products and farm solutions; its tractors sell under the Mahindra, Swaraj and Trakstar brands.15 Its listed subsidiaries include Mahindra & Mahindra Financial Services, Mahindra Lifespace Developers (real estate), Mahindra Holidays & Resorts India (vacation ownership) and Mahindra Logistics, and Tech Mahindra is a listed associate.678 The group has 61 manufacturing facilities around the world and a business presence in more than 100 countries; its 49 manufacturing plants in India include contract manufacturing and vehicle scrapping sites.910

It was incorporated in 1945 and assembled its first vehicle in 1947.21 It took control of SML Mahindra, a listed maker of buses, trucks and other commercial vehicles, in Aug 2025 and holds 58.97% of it.11 In Nov 2025 its board approved a 50:50 life insurance joint venture with Manulife in India, subject to approval by the insurance regulator.12 Anand G. Mahindra is its chairman and Anish Shah its group CEO and managing director.13

Mahindra & Mahindra key points

Results

  • Consolidated revenue was ₹58,188 crore in the quarter to Jun 2026, up 28% from ₹45,529 crore a year earlier, and profit after tax was ₹5,455 crore, up 34% from ₹4,083 crore.14
  • For the year to Mar 2026, consolidated income from operations was ₹1,98,639 crore, up 24.8% from ₹1,59,211 crore, and profit after tax after minority shareholders' share was ₹17,099 crore, up 32.3% from ₹12,929 crore.15
  • Consolidated profit after tax by business, ₹ crore161718
    Itemquarter to Jun 2026quarter to Jun 2025
    Automotive2,1291,760
    Farm equipment1,5201,323
    Tech Mahindra411320
    Mahindra Finance486273
    Growth Gems (group businesses being scaled up)13648
    Investments772359
    Investments include a gain on selling CIE shares.
  • It sold 11,17,698 vehicles and 5,26,403 tractors in India and as exports in the year to Mar 2026, up 18.8% and 24.0%, its highest yearly sales of both.19

Market position

  • Its tractor market share, including Gromax, was 44.9% in the quarter to Jun 2026; it says it has been first in the domestic market for 43 consecutive years.2021
  • It ranked first in SUVs by revenue market share, at 25.0%, in the quarter to Jun 2026.22
  • It ranked first in light commercial vehicles under 3.5 tonnes, with 52.0% of the market by volume in the quarter to Jun 2026.23
  • It ranked first in electric SUVs by revenue share, and its last mile mobility business held 39.5% of the electric three-wheeler market, in the quarter to Jun 2026.2425

Business segments

  • Segment results (segment profit after share of associates and joint ventures), ₹ crore2627
    Itemyear to Mar 2026year to Mar 2025
    Automotive10,3837,797
    Farm Equipment5,5174,947
    Financial Services3,7793,002
    Industrial Businesses and Consumer Services3,7052,718
    Total23,38418,464
  • Automotive. Revenue was ₹34,387 crore in the quarter to Jun 2026, up 32% from ₹25,999 crore; electric SUVs were 12.0% of its SUV volumes.2829
  • Farm equipment. Revenue was ₹12,501 crore in the quarter to Jun 2026, up 15% from ₹10,892 crore; the core tractor business earned a 19.2% margin before interest and tax.3031
  • Financial services. Mahindra & Mahindra Financial Services had assets under management (loans it manages) of ₹1,34,096 crore at the end of Mar 2026, up 12.1%.32

Where revenue comes from

  • Consolidated income from operations by customer location, ₹ crore33
    Itemyear to Mar 2026year to Mar 2025
    India1,81,318.521,44,300.26
    Overseas17,320.0314,910.56
  • It exported 41,030 vehicles and 20,473 tractors from India in the year to Mar 2026, up 18.2% and 16.7%.3435

Plants and capacity

  • Its SUV plants could make 64.5k vehicles a month at the end of Mar 2026: 56.5k with petrol or diesel engines and 8k battery electric.36
  • In its presentation of 30 Jul 2026, the company said it plans to raise SUV capacity to 82k vehicles a month by Mar 2027 and to double it in the 5 years from Mar 2026.37
  • The company stated in its annual report for the year to Mar 2026 that it plans an integrated vehicle and tractor plant at Nagpur, Maharashtra, to make over 5 lakh vehicles and 1 lakh tractors a year when fully running, with production scheduled from 2028.38

What the company expects

  • The company stated in its annual report for the year to Mar 2026 that it expects, for the year to Mar 2027, SUV growth in the mid-to-high teens and tractor industry growth in mid-single digits, and plans 7 new tractors and 12 new features.39
  • The company stated in its annual report for the year to Mar 2026 that it plans to launch 10 SUVs with combustion engines, 6 electric SUVs and 10 light commercial vehicles by 2031.40
  • On its earnings call of 30 Jul 2026, the company said its target for return on equity (profit as a share of shareholders' funds) stays at 18%; the annualised figure for the quarter to Jun 2026 was 23%.4142

Recent events

  • On 9 Oct 2026, the company reported that Embraer S.A. of Brazil agreed to buy 51% of Novavayu Aerospace Limited from a subsidiary that wholly owns it, leaving Novavayu an associate of that subsidiary; completion was expected by 1 Dec 2026.4344
  • On 28 Sep 2026, ICRA reaffirmed its AAA (Stable) credit rating on the company's debt; Crisil had reaffirmed its AAA/Stable rating on 18 Sep 2026.4546
  • On 30 Jul 2026, subsidiary Mahindra Last Mile Mobility proposed raising about ₹322 crore from Lightrock, IFC and India-Japan Fund at a valuation of about ₹10,822 crore, in tranches subject to regulatory approvals, cutting the company's stake from 78.11% to an expected 75.79%.47
  • On 29 Jul 2026, the board approved selling the Truck and Bus Division to subsidiary SML Mahindra as a slump sale (the whole business for one price) for ₹525 crore, before agreed adjustments; completion was proposed by 31 Jan 2027, subject to approvals.4849

Last updated

All 49 sources, each with its page
  1. 1. Annual report, 4 Jul 2026, page 9
  2. 2. Annual report, 4 Jul 2026, page 128
  3. 3. Annual report, 4 Jul 2026, page 97
  4. 4. Annual report, 4 Jul 2026, page 9
  5. 5. Annual report, 4 Jul 2026, page 86
  6. 6. Annual report, 4 Jul 2026, page 54
  7. 7. Annual report, 4 Jul 2026, page 55
  8. 8. Annual report, 4 Jul 2026, page 57
  9. 9. Annual report, 4 Jul 2026, page 27
  10. 10. Annual report, 4 Jul 2026, page 26
  11. 11. Annual report, 4 Jul 2026, page 55
  12. 12. Annual report, 4 Jul 2026, page 55
  13. 13. Annual report, 4 Jul 2026, page 51
  14. 14. Investor presentation, 30 Jul 2026, page 44
  15. 15. Annual report, 4 Jul 2026, page 97
  16. 16. Investor presentation, 30 Jul 2026, page 45
  17. 17. Earnings call, 30 Jul 2026, page 3
  18. 18. Annual report, 4 Jul 2026, page 19
  19. 19. Annual report, 4 Jul 2026, page 86
  20. 20. Investor presentation, 30 Jul 2026, page 20
  21. 21. Annual report, 4 Jul 2026, page 90
  22. 22. Investor presentation, 30 Jul 2026, page 29
  23. 23. Investor presentation, 30 Jul 2026, page 34
  24. 24. Investor presentation, 30 Jul 2026, page 31
  25. 25. Investor presentation, 30 Jul 2026, page 41
  26. 26. Annual report, 4 Jul 2026, page 98
  27. 27. Annual report, 4 Jul 2026, page 98
  28. 28. Investor presentation, 30 Jul 2026, page 42
  29. 29. Investor presentation, 30 Jul 2026, page 31
  30. 30. Investor presentation, 30 Jul 2026, page 26
  31. 31. Investor presentation, 30 Jul 2026, page 24
  32. 32. Annual report, 4 Jul 2026, page 54
  33. 33. Annual report, 4 Jul 2026, page 239
  34. 34. Annual report, 4 Jul 2026, page 52
  35. 35. Annual report, 4 Jul 2026, page 53
  36. 36. Investor presentation, 30 Jul 2026, page 38
  37. 37. Investor presentation, 30 Jul 2026, page 38
  38. 38. Annual report, 4 Jul 2026, page 25
  39. 39. Annual report, 4 Jul 2026, page 92
  40. 40. Annual report, 4 Jul 2026, page 23
  41. 41. Earnings call, 30 Jul 2026, page 6
  42. 42. Investor presentation, 30 Jul 2026, page 17
  43. 43. Exchange filing, 9 Oct 2026, page 1
  44. 44. Exchange filing, 9 Oct 2026, page 2
  45. 45. Exchange filing, 28 Sep 2026, page 2
  46. 46. Exchange filing, 18 Sep 2026, page 1
  47. 47. Exchange filing, 30 Jul 2026, page 1
  48. 48. Exchange filing, 29 Jul 2026, page 1
  49. 49. Exchange filing, 29 Jul 2026, page 2

Results

Consolidated; ₹ crore.Mahindra & Mahindra quarterly results

Revenue growth, 12 months
+26.2%
Net profit growth, 12 months
+34.5%

Quarter to Jun 2026, against the quarter before

Revenue
₹58,188 Crup 5.83%
Net profit
₹5,998 Crup 14.02%
Net margin
10.3%

Revenue by quarter

₹37,924 CrSep 24₹41,470 CrDec 24₹42,599 CrMar 25₹45,529 CrJun 25₹46,106 CrSep 25₹52,100 CrDec 25₹54,982 CrMar 26₹58,188 CrJun 26
Peak revenue ₹58,188 Cr, quarter to Jun 2026; lowest ₹37,924 Cr, quarter to Sep 2024

Net profit by quarter, a loss in red

₹3,361 CrSep 24₹3,624 CrDec 24₹3,542 CrMar 25₹4,377 CrJun 25₹3,964 CrSep 25₹5,021 CrDec 25₹5,260 CrMar 26₹5,998 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue37,92441,47042,59945,52946,10652,10054,98258,188
Net profit3,3613,6243,5424,3773,9645,0215,2605,998
Net margin8.9%8.7%8.3%9.6%8.6%9.6%9.6%10.3%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Automotive₹1,17,834 Crup 29.74%57.7%
  • Farm Equipment₹42,568 Crup 20.33%20.9%
  • Industrial Businesses and Consumer Services₹22,749 Crup 19.91%11.1%
  • Financial Services₹20,949 Crup 14.50%10.3%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2021: days before it are of the company before the change.Mahindra & Mahindra PE ratio and valuation

Price to earnings

At or below today's level on 34% of 2,278 trading days over the last 10 years.

LowestHighest
Its median21.81Industry median20.50
Price to book

At or below today's level on 67% of 1,970 trading days since Nov 2018.

LowestHighest
Its median3.08Industry median3.19
Dividend yield

At or below today's level on 87% of 2,474 trading days over the last 10 years.

LowestHighest
Its median0.91%Industry median0.77%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+12.0%+32.1%−16.1%1.1%
3 years+37.7%+18.3%+15.5%1.1%
5 years+31.2%+56.5%−16.9%1.2%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 3 and 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the years to Mar 2021 and Mar 2023.

Shareholding

Per cent of all the company's shares, counting those held against depositary receipts traded abroad, from the filing for Sep 2026.Mahindra & Mahindra shareholding pattern

Shareholding by group

  • Promoters18.07%
  • Foreign institutions32.77%
  • Indian institutions33.65%
  • Governments0.07%
  • Individuals and others10.32%
  • Employee trusts3.39%
  • Depositary receipts1.74%
Holder
PRUDENTIAL MANAGEMENT & SERVICES PRIVATE LIMITEDPromoter10.63%
LIFE INSURANCE CORPORATION OF INDIA WITH SUB ACCOUNTSInsurance companies6.93%
M&M BENEFIT TRUST (Anand Mahindra & Ranjan Pant -Trustees)Promoter6.79%
MAHINDRA AND MAHINDRA EMPLOYEES STOCK OPTION TRUSTEmployee benefit trusts3.28%
NPS TRUST- A/C HDFC PENSION FUND MANAGEMENT LIMITED SCHEME E - TIER I WITH SUB ACCOUNTSProvident and pension funds2.50%
GOVERNMENT OF SINGAPOREForeign portfolio investors, category I1.48%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 0.02% of their shares. Since Jun 2026: promoters −0.07 pts, foreign institutions −1.53 pts, Indian institutions +1.55 pts, mutual funds +0.82 pts.

Mutual fund holdings

581 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 196 of the 293 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 6 more funds filed their first portfolio on record, holding it.All 581 funds holding Mahindra & Mahindra

Bought for the first time
1
Bought again
5
Added
173
Cut
120
Held unchanged
276
Sold out
11
Fund
PPFAS Mutual Fund logoParag Parikh Flexi Cap FundPPFAS Mutual Fund1,91,22,2253.89%₹5,641.1 Cr
SBI Mutual Fund logoSBI Nifty 50 ETFSBI Mutual Fund1,73,28,6112.52%₹5,111.9 Cr
SBI Mutual Fund logoSBI BSE Sensex ETFSBI Mutual Fund1,20,30,9843.07%₹3,546.0 Cr
ICICI Prudential Mutual Fund logoICICI Prudential Large Cap FundICICI Prudential Mutual Fund65,01,0872.51%₹1,917.8 Cr
UTI Mutual Fund logoUTI Nifty 50 ETFUTI Mutual Fund59,42,7752.52%₹1,753.1 Cr
UTI Mutual Fund logoUTI BSE Sensex ETFUTI Mutual Fund56,69,0403.07%₹1,670.9 Cr
Nippon India Mutual Fund logoNippon India ETF Nifty 50 BeESNippon India Mutual Fund55,62,9962.52%₹1,641.1 Cr
Nippon India Mutual Fund logoNippon India Large Cap FundNippon India Mutual Fund43,24,8112.49%₹1,275.8 Cr
Axis Mutual Fund logoAxis Large Cap FundAxis Mutual Fund38,13,6393.85%₹1,125.0 Cr
ICICI Prudential Mutual Fund logoICICI Prudential Nifty 50 ETFICICI Prudential Mutual Fund36,47,5752.52%₹1,076.0 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.Mahindra & Mahindra insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade
  • Others: no market trade · 6 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Mahindra & Mahindra competitors and peers

Automobiles, 27 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Mahindra & Mahindra in market cap.Automobile companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Maruti Suzuki India logoMaruti Suzuki IndiaMARUTI3,59,99126.763.30+29.6%−9.0%12.9%12.5%1.22%
Bajaj Auto logoBajaj AutoBAJAJ-AUTO2,85,52121.847.80+47.9%+56.9%36.9%23.6%1.44%
Eicher Motors logoEicher MotorsEICHERMOT1,96,69534.077.84+28.1%+19.3%24.9%20.7%1.14%
TVS Motor Company logoTVS Motor CompanyTVSMOTOR1,94,16856.6520.30+30.2%+43.7%37.9%18.0%0.29%
Hyundai Motor India logoHyundai Motor IndiaHYUNDAI1,51,23830.557.56+3.6%−10.3%27.3%27.1%1.13%
Hero MotoCorp logoHero MotoCorpHEROMOTOCO1,04,44419.174.83+25.6%+8.2%26.7%29.2%3.55%
Tata Motors Passenger Vehicles logoTata Motors Passenger VehiclesTMPV96,200–0.86−18.6%–––1.15%
Ather Energy logoAther EnergyATHERENERG66,391–15.49––−6.7%−6.5%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Mahindra & Mahindra dividend history

Dividend per share, ₹, restated for later splits and bonuses

6.5Mar 177.5Mar 188.5Mar 192.4Mar 208.8Mar 2112Mar 2216Mar 2321Mar 2425Mar 2533Mar 26
Highest ₹33.00 a share, year to Mar 2026.
Ex-dateTypePer share
3 Jul 2026Final₹33.00
4 Jul 2025Final₹25.30
5 Jul 2024Final₹21.10
14 Jul 2023Final₹16.25
14 Jul 2022Final₹11.55
15 Jul 2021Final₹8.75
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Mahindra & Mahindra announcements

Mahindra & Mahindra share price by year

Each calendar year to 2025.Mahindra & Mahindra share price history

YearClose at year endChangeHighest closeLowest close
20253,709.20+23.3%3,757.302,491.25
20243,007.10+73.9%3,194.301,595.20
20231,729.40+38.4%1,734.451,128.30
20221,249.20+49.2%1,354.05690.55
2021837.15+16.2%960.30728.70
2020720.60+35.6%755.00269.00
2019531.55−33.9%773.35505.70
2018803.85+7.0%983.85707.80
2017751.10+26.8%778.15594.45
2016592.35−6.9%748.93563.30
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
26 Oct 20262,849.602,882.002,816.402,853.102,851.9216,81,68849.8%
23 Oct 20262,853.002,861.202,802.402,861.202,826.2522,94,55956.6%
22 Oct 20262,850.002,873.002,818.202,864.102,848.8217,56,55149.6%
21 Oct 20262,920.002,920.002,840.002,889.002,869.9324,28,22861.4%
19 Oct 20262,930.002,938.602,885.602,907.002,904.4621,42,50354.1%
16 Oct 20262,858.002,934.502,837.002,920.902,897.8425,41,99856.8%
15 Oct 20262,833.002,868.202,798.402,861.702,845.2326,58,56860.0%
14 Oct 20262,878.002,878.002,793.702,793.702,826.9329,45,20360.6%
13 Oct 20262,801.902,864.402,783.502,864.402,836.0926,64,48061.3%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history

Ex-dateEventPrice factorWhat happened
21 Dec 2017Bonus0.5000Holders received 1 bonus share for every 1 held.
29 Mar 2010Split0.5000Each share became 2.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson
Anand Gopal Mahindra
At the end of the quarter to Sep 2026
Managing director and CEO
Anish D Shah
At the end of the quarter to Sep 2026
NSE symbol
M&M
BSE code
500520
ISIN
INE101A01026
Industry
Automobiles
CIN
L65990MH1945PLC004558
Corporate identity number, the registrar of companies' code for it
Incorporated
1945
Registered office
Gateway Building, Apollo Bunder, Mumbai 400001, Maharashtra
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments