Mahindra & Mahindra Financial Services shareholders and shareholding pattern
NSE: M&MFINBSE: 532720FinanceMid Cap
Mahindra & Mahindra Financial Services Limited · Face value ₹2 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Mar 2006
Last close ₹264.80up ₹1.80 (0.68%)BSE ₹264.80
Share price at the NSE close on 29 Oct 2026. Previous close ₹263.00.
29 Oct: open ₹264.00, high ₹266.00, low ₹256.50
52-week range of traded prices to 29 Oct 2026
₹253.40Low, 28 Oct 2026₹415.00High, 10 Aug 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹36,812 Cr203rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 10.23
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 1.34
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 2.83%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 13.8%
- NIMNet interest margin. Net interest income ÷ the average assets that earn interest × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. Net interest margin in the glossary
- 6.76%
- Cost of fundsCost of funds. Interest paid ÷ the average of what the company pays interest on × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. Cost of funds in the glossary
- 7.22%
- Credit costCredit cost. What was set aside for loans that may not be repaid ÷ average loans given × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. Credit cost in the glossary
- 1.89%
- ROAReturn on assets. Profit after tax ÷ average total assets × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. It equals net interest income + other income − operating expenses − provisions + exceptional items − tax + the lines below tax, each on the same base. For the year to Mar 2026. Return on assets in the glossary
- 1.89%
- LeverageAssets per rupee of net worth. Average total assets ÷ average net worth: rupees of assets for each rupee of net worth; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. Assets per rupee of net worth in the glossary
- 6.27times net worth
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 42,80,20054.5% delivered
Mahindra & Mahindra Financial Services' shareholding pattern for Sep 2026, filed on 17 Oct 2026, with every filing from Dec 2016: who owns its shares by group, its promoters by name and its public holders of 1% or more.
Who owns Mahindra & Mahindra Financial Services, filing by filing
Per cent of the company's shares.
Sep 2026 filing
- Promoters52.48%
- Foreign institutions9.96%
- Indian institutions31.56%
- Individuals and others5.97%
- Employee trusts0.04%
Shareholding pattern, per cent, from Sep 2022
- Promoters
- Foreign institutions
- Indian institutions
- Individuals and others
- Employee trusts
| Per cent | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 51.88% | 51.85% | 51.85% | 51.20% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.49% | 52.49% | 52.49% | 52.49% | 52.49% | 52.48% | |
| Indian promoters | 51.88% | 51.85% | 51.85% | 51.20% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 51.19% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.16% | 52.49% | 52.49% | 52.49% | 52.49% | 52.49% | 52.48% |
| Public. Every shareholder outside the promoter group, the employee trusts and the shares held against depositary receipts, as the filing totals them. Public in the glossary | 48.12% | 48.15% | 48.15% | 48.16% | 48.26% | 48.28% | 48.29% | 48.30% | 48.33% | 48.35% | 48.35% | 48.36% | 48.41% | 48.42% | 48.47% | 47.51% | 47.54% | 47.56% | 47.56% | 47.57% | 47.61% | 47.64% | 47.64% | 47.64% | 47.67% | 47.69% | 47.70% | 47.71% | 47.74% | 47.75% | 47.75% | 47.77% | 47.79% | 47.79% | 47.47% | 47.47% | 47.48% | 47.48% | 47.48% | 47.48% |
| Employee trusts | – | – | – | 0.64% | 0.55% | 0.53% | 0.52% | 0.52% | 0.48% | 0.47% | 0.46% | 0.46% | 0.40% | 0.39% | 0.34% | 0.33% | 0.30% | 0.29% | 0.28% | 0.27% | 0.24% | 0.21% | 0.21% | 0.20% | 0.18% | 0.16% | 0.15% | 0.14% | 0.10% | 0.09% | 0.09% | 0.07% | 0.06% | 0.05% | 0.05% | 0.04% | 0.04% | 0.03% | 0.03% | 0.04% |
| Shares in issue | 56,87,64,960 | 56,87,64,960 | 56,87,64,960 | 56,87,64,960 | 61,77,64,960 | 61,77,64,960 | 61,77,64,960 | 61,77,64,960 | 61,77,64,960 | 61,77,64,960 | 61,77,64,960 | 61,77,64,960 | 61,77,64,960 | 61,77,64,960 | 61,77,64,960 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,23,55,29,920 | 1,38,99,71,160 | 1,38,99,71,160 | 1,38,99,71,160 | 1,38,99,71,160 | 1,38,99,71,160 | 1,39,01,91,160 |
| Shares locked inShares locked in. Shares the filing reports as barred from sale until a set day, such as promoters' shares after a public issue or shares allotted to an investor directly. Shares locked in in the glossary | – | – | – | – | 31,62,07,660 | 31,62,07,660 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | – | – | – | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | – | – | – | – | – | – |
| Promoters' shares locked in | – | – | – | – | 31,62,07,660 | 31,62,07,660 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | 2,50,00,000 | – | – | – | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | – | – | – | – | – | – |
Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.
Mahindra & Mahindra Financial Services promoters
Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is MAHINDRA & MAHINDRA LIMITED, 52.48%. The filing names 157 more members with no shares.Promoter buying and selling
| Holder | ||
|---|---|---|
| MAHINDRA & MAHINDRA LIMITEDIndian companies, trusts and others | 52.48% | 72,95,82,599 |
No promoter shares are reported as pledged.
Largest public holders of Mahindra & Mahindra Financial Services, filing by filing
Per cent, on the same shares as the split above.Mutual funds holding Mahindra & Mahindra Financial Services
| Holder | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Life Insurance Corporation of India, LIC-P&GS Fund, LICI FundsOther financial institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 9.89% | – | – | – | – | 10.24% | 10.53% | 10.33% | 10.26% | 10.26% | 9.09% |
| HDFC Life Insurance Company LimitedInsurance companies | – | – | – | – | – | – | – | – | – | 2.42% | 2.56% | 2.63% | 2.63% | 2.94% | 2.21% | 2.13% | 2.18% | 1.97% | 2.13% | 2.48% | 2.53% | 2.53% | 2.45% | 2.58% | 2.61% | – | – | – | – | – | – | – | – | 2.53% | 2.59% | 2.56% | 2.61% | 2.51% | 2.24% | 2.23% |
| SBI Life Insurance Company LimitedInsurance companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.07% | 1.59% | 1.55% | 1.41% | 1.26% |
| Ashish DhawanResident individuals, over ₹2 lakh at face value | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% | 1.05% | 1.05% | 1.05% | 1.05% | 1.05% | – |
| Life Insurance Corporation of India, nLIC-P & GS Fund, LICI FundsOther financial institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 10.04% | 10.24% | 10.24% | 10.24% | – | – | – | – | – | – |
| Government Pension Fund GlobalForeign portfolio investors, category I | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.16% | – | 1.90% | 1.90% | 1.95% | 1.55% | – | – | – | – | – | – | – | 1.43% | 1.48% | – | – | – | – | 1.03% | 1.03% | – | – | – | – | – | – |
| HDFC LIFE INSURANCE COMPANY LIMITED, nHDFC Life Insurance Co. Ltd - shareholder solvency margin a/cInsurance companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 2.38% | 2.43% | 2.43% | – | – | – | – | – | – | – |
| HDFC LIFE INSURANCE COMPANY LIMITED, HDFC Life Insurance Co. Ltd - shareholder solvency margin a/cInsurance companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 2.46% | 2.40% | 2.46% | 2.43% | – | – | – | – | – | – | – | – | – | – |
| KOTAK FUNDS - INDIA MIDCAP FUNDForeign portfolio investors, category I | – | – | – | – | – | – | 1.16% | 1.32% | 1.32% | 1.41% | 1.40% | 1.43% | 1.47% | 1.42% | 1.05% | 1.03% | 1.03% | 1.02% | – | – | – | – | – | – | – | – | 1.30% | 1.83% | 1.79% | 1.53% | – | – | – | – | – | – | – | – | – | – |
| Life Insurance Corporation of India, LIC-P & GS FundOther financial institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 5.70% | 6.16% | – | – | 7.33% | 7.33% | 6.38% | 7.18% | – | – | – | – | – | – | – | – | – | – | – |
| HDFC LIFE INSURANCE COMPANY LIMITED, HDFC Life Insurance Co. Ltd - shareholder margin solvency a/cInsurance companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 2.64% | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| TATA AIA LIFE INSURANCE CO LTD-Multiple accountsInsurance companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.13% | 1.09% | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Life Insurance Corporation of IndiaOther financial institutions | 1.06% | 1.06% | 1.06% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 5.70% | – | – | – | 6.31% | 7.16% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| WISHBONE FUND, LTD.Foreign portfolio investors, category II | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.46% | 1.86% | 1.91% | 1.91% | 1.91% | 2.67% | 2.67% | 2.74% | 2.74% | 2.74% | 2.27% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| TATA AIA LIFE INSURANCE CO LTD-WHOLE LIFE MID CAPInsurance companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.10% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| VALIANT MAURITIUS PARTNERS OFFSHORE LIMITEDInstitutions Foreign Portfolio Investor | – | 1.19% | 1.26% | 1.04% | – | – | – | 1.06% | – | 1.01% | 1.01% | 1.01% | 1.01% | 1.32% | 1.93% | 1.93% | 1.54% | 1.46% | 1.46% | 1.36% | 1.22% | 1.15% | 1.04% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Life Insurance Corporation of India and Life Insurance Corporation of India - P & GS FUNDFinancial Institution Or Banks | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 5.70% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| LIC OF INDIA ALONG WITH ITS SUB ACCOUNTSFinancial Institution Or Banks | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 2.40% | 3.15% | 4.73% | 5.72% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| BUENA VISTA ASIAN OPPORTUNITIES MASTER FUND LTDInstitutions Foreign Portfolio Investor | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 1.39% | 1.42% | 1.32% | 1.24% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| LIC of IndiaFinancial Institution Or Banks | – | – | – | – | – | – | – | – | – | – | 2.89% | 2.89% | 2.89% | – | 2.89% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| LIFE INSURANCE CORPORATION OF INDIA alongwith its sub accountsFinancial Institution Or Banks | – | – | – | – | – | – | – | – | – | – | – | – | – | 2.89% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| BlackRock Global Funds Asian Dragon FundInstitutions Foreign Portfolio Investor | – | – | 1.18% | 1.26% | 1.83% | 2.00% | 1.84% | 1.62% | 1.54% | 1.43% | 1.17% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| BlackRock Global Funds - Asian Growth Leaders FundInstitutions Foreign Portfolio Investor | – | – | – | 1.13% | 1.27% | 1.47% | 1.54% | 1.56% | 1.47% | 1.51% | 1.07% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| HDFC Standard Life Insurance Company LimitedOther non-institutions | – | – | – | – | 1.17% | – | – | – | 2.29% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Schroder International Selection Fund Emerging AsiaInstitutions Foreign Portfolio Investor | – | – | – | – | – | – | – | – | 1.11% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| HDFC Standard Life Insurance Company Limited along with its sub-accountsOther non-institutions | – | – | – | – | – | 1.48% | 1.68% | 2.11% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Franklin Templeton Investment FundsInstitutions Foreign Portfolio Investor | 3.03% | 3.03% | 2.39% | 1.43% | 1.02% | 1.00% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| MERRILL LYNCH MARKETS SINGAPORE PTE.LTD.Institutions Foreign Portfolio Investor | – | – | 1.03% | 1.17% | 1.17% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| ABU DHABI INVESTMENT AUTHORITY - BGO-EMInstitutions Foreign Portfolio Investor | – | – | – | – | 1.13% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| ARANDA INVESTMENTS (MAURITIUS) PTE LTDInstitutions Foreign Portfolio Investor | 2.49% | 2.49% | 2.49% | 2.37% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| AMANSA HOLDINGS PRIVATE LIMITEDInstitutions Foreign Portfolio Investor | 1.12% | 1.09% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here: each fund's holding is on the Mutual funds tab, from its own portfolio. A dash is a filing that did not name the holder, which includes holding under one per cent.
Who moved in the Sep 2026 filing
Against the Jun 2026 filing. A filing names a public holder only at 1% or more, so a holder no longer named fell under 1% or sold out.
- Indian institutions: Life Insurance Corporation of India, LIC-P&GS Fund, LICI Funds 9.09%, −1.17 pts; SBI Life Insurance Company Limited 1.26%, −0.15 pts; HDFC Life Insurance Company Limited 2.23%, −0.01 pts
- Individuals and others: Ashish Dhawan no longer named, from 1.05%