महिंद्रा ग्रुप की दशक भर की विस्तार योजना, FY30 तक ऑटोमोटिव राजस्व को आठ गुना बढ़ाने का लक्ष्य

Auto

Published on 20th November 2025, 5:35 PM

Author

Simar Singh | Whalesbook News Team

Overview

महिंद्रा ग्रुप ने दस साल की विस्तार रणनीति का खुलासा किया है, जिसका नेतृत्व इसकी ऑटोमोटिव डिवीज़न करेगी। FY30 तक व्यवसायों में 15-40% की ऑर्गेनिक ग्रोथ का लक्ष्य रखा गया है। ऑटो सेगमेंट में एसयूवी (SUVs) और एलसीवी (LCVs) से राजस्व में आठ गुना वृद्धि होने की उम्मीद है। यह समूह फार्म इक्विपमेंट, वित्तीय सेवाओं, प्रौद्योगिकी, रियल एस्टेट और अक्षय ऊर्जा में भी महत्वपूर्ण विस्तार की योजना बना रहा है, जिसमें अनुशासित पूंजी आवंटन पर जोर दिया जाएगा।

Mahindra & Mahindra Ltd

₹ 3,7500.89%

21 Nov – close price

🔗mahindra.com•BSE: 500520•NSE: M&M

Market Cap₹ 4,66,361 Cr.

Current Price₹ 3,750

High / Low₹ 3,781

Stock P/E33.3

Book Value₹ 535

Dividend Yield0.67 %

ROCE27.0 %

ROE20.8 %

Face Value₹ 5.00

Sales₹ 1,31,795 Cr.

OPM16.0 %

Mar Cap₹ 4,66,361 Cr.

ABOUT

Mahindra & Mahindra Ltd is one of the most diversified automobile company in India with presence across 2-wheelers, 3-wheelers, PVs, CVs, tractors & earthmovers.It also has presence across financial services, auto components, hospitality, infrastructure, retail, logistics, steel trading and processing, IT businesses, agri, aerospace, consulting services, defence, energy and industrial equipmentthrough its subsidiaries and group companies.It was incorporated in 1945 by Ghulam Mohammad and two Mahindra Brothers (KC & JC Mahindra) and was later renamed as Mahindra & Mahindra in 1948.[1]

KEY POINTS

Market Leadership[1][2]Mahindra & Mahindra operates diverse businesses including Auto, Farm, TechM, and Financial Services. It holds market leadership in SUVs and LCVs, is the#1 tractor manufacturer, and #1 in EV Re

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Maruti Suzuki	15977.00	33.99	502371.87	0.84	3349.00	7.95	42344.20	13.07	21.70	160633.80	12.22	14779.40	3349.00	5.04	11.69	0.00
2.	M & M	3749.60	33.30	466361.40	0.67	4520.52	17.69	35079.82	21.30	27.04	131795.21	16.05	14003.01	4520.52	7.01	12.93	0.02
3.	Hyundai Motor I	2335.90	33.82	189838.02	0.90	1570.25	17.38	17061.03	1.10	54.25	66889.41	13.20	5612.65	1570.25	11.17	19.97	0.05
4.	Tata Motors PVeh	362.25	9.88	133410.99	1.66	76248.00	-214.83	72349.00	-13.52	19.97	392137.00	9.18	13507.54	-3412.33	1.20	7.65	0.61
5.	Force Motors	16901.00	27.15	22270.47	0.24	350.70	159.72	2081.40	7.22	29.99	8624.15	14.46	820.18	350.67	6.35	11.53	0.00
6.	Olectra Greentec	1325.90	76.29	10902.39	0.03	49.43	4.18	656.62	25.39	20.52	1968.13	13.68	142.91	49.55	9.70	7.46	0.33
7.	Mercury EV-Tech	36.99	79.67	702.71	0.00	1.72	7.50	34.01	74.59	5.15	122.86	8.41	8.82	1.72	2.51	3.08	0.03
–	Median: 8 Co.	1830.9	33.91	77840.73	0.46	960.48	7.72	9571.22	10.14	21.11	37756.78	12.71	3216.41	200.11	6.68	9.59	0.03

Quarterly Results

Standalone figures in ₹ crores

	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
Sales	22,105	22,113	22,614	24,403	25,762	25,737	25,434	27,133	28,919	30,964	31,609	34,143	35,080
Expenses	18,513	18,840	19,774	20,852	21,270	22,088	22,006	23,017	23,649	26,154	26,671	29,199	28,612
Operating Profit	3,592	3,273	2,840	3,551	4,492	3,649	3,428	4,116	5,270	4,810	4,938	4,944	6,467
Other Income	-30	-418	-220	663	691	387	224	258	677	265	-206	583	702
Profit before tax	2,707	1,958	1,711	3,341	4,322	3,170	2,624	3,406	4,931	3,968	3,345	4,471	6,069
Tax %	24%	22%	9%	17%	21%	21%	24%	23%	22%	25%	27%	23%	26%
Net Profit	2,068	1,528	1,549	2,759	3,393	2,490	2,000	2,613	3,841	2,964	2,437	3,450	4,521
EPS in Rs	16.63	12.29	12.46	22.19	27.29	20.02	16.08	21.01	30.89	23.84	19.60	27.74	36.35

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	40,508	38,445	40,875	44,054	48,686	53,614	45,488	44,630	57,787	86,645	101,336	118,625	131,795
Expenses	35,787	34,271	36,255	39,539	42,462	46,974	39,690	37,672	50,759	74,581	86,206	100,209	110,636
Operating Profit	4,722	4,173	4,620	4,515	6,224	6,640	5,798	6,957	7,027	12,064	15,130	18,416	21,159
Other Income	770	1,185	919	1,894	1,470	1,659	-346	-1,888	1,845	-506	1,956	1,712	1,344
Interest	259	214	186	160	112	113	113	396	226	273	140	250	257
Depreciation	863	975	1,068	1,526	1,479	1,860	2,223	2,370	2,498	3,154	3,488	4,227	4,391
Profit before tax	4,369	4,169	4,284	4,723	6,102	6,325	3,116	2,303	6,148	8,131	13,458	15,650	17,854
Net Profit	3,758	3,321	3,205	3,643	4,356	4,796	1,331	984	4,870	6,549	10,642	11,855	13,372
EPS in Rs	30.51	26.74	25.80	29.33	35.04	38.58	10.70	7.92	39.17	52.66	85.58	95.33	107.53
Dividend Payout %	22%	21%	22%	21%	20%	21%	21%	106%	28%	30%	24%	26%	–

Compounded Sales Growth

10 Years:12%

5 Years:21%

3 Years:27%

TTM:23%

Compounded Profit Growth

10 Years:15%

5 Years:40%

3 Years:34%

TTM:28%

Stock Price CAGR

10 Years:19%

5 Years:40%

3 Years:45%

1 Year:24%

Return on Equity

10 Years:15%

5 Years:17%

3 Years:21%

Last Year:21%

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	295	296	296	297	595	596	597	597	598	599	600	600	601
Reserves	16,496	18,959	22,127	26,489	29,699	33,613	33,871	34,354	37,600	42,758	51,692	60,985	65,890
Borrowings	4,045	3,728	2,917	2,851	2,958	2,571	3,027	7,786	6,743	5,026	2,051	1,682	1,614
Other Liabilities	10,452	9,961	10,159	10,332	14,195	15,916	13,007	18,827	21,665	27,398	29,367	36,382	40,963
Total Liabilities	31,289	32,945	35,500	39,968	47,447	52,697	50,502	61,564	66,606	75,780	83,709	99,649	109,068
Fixed Assets	5,877	5,929	7,596	7,771	7,859	10,082	10,395	12,011	14,904	16,976	17,805	19,651	22,441
Gross Block	10,796	11,739	13,799	15,477	16,878	20,518	22,666	27,312	31,577	36,215	40,207	43,553	–
Accumulated Depreciation	4,919	5,809	6,203	7,706	9,019	10,437	12,272	15,301	16,673	19,239	22,403	23,901	–
CWIP	1,228	2,179	1,562	2,040	3,129	2,420	4,009	6,125	5,263	2,785	3,763	3,905	1,272
Investments	11,380	13,138	13,547	17,908	20,583	22,016	19,938	21,783	24,204	27,087	29,207	35,468	37,375
Other Assets	12,803	11,698	12,794	12,248	15,876	18,179	16,160	21,645	22,235	28,932	32,934	40,625	47,981
Total Assets	31,289	32,945	35,500	39,968	47,447	52,697	50,502	61,564	66,606	75,780	83,709	99,649	109,068

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	3,728	3,219	5,470	3,971	7,027	4,924	3,678	9,594	6,977	9,129	11,474	16,617
Cash from Investing Activity	-2,362	-2,423	-3,538	-3,221	-5,110	-2,549	-2,576	-14,564	-3,961	-4,753	-5,361	-13,874
Cash from Financing Activity	-824	-1,585	-2,007	-1,056	-1,033	-1,555	-1,015	3,514	-3,166	-3,784	-5,547	-3,355
Net Cash Flow	542	-788	-75	-305	884	820	86	-1,456	-150	593	566	-612

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	23	24	22	24	24	27	24	18	19	17	16	18
Inventory Days	35	32	33	31	29	37	39	58	51	50	48	44
Days Payable	75	70	83	78	92	92	78	129	111	97	92	99
Cash Conversion Cycle	-18	-14	-27	-23	-39	-29	-15	-53	-41	-30	-27	-38
Working Capital Days	-18	-25	-26	-19	-28	-19	-18	-51	-27	-23	-16	-26
ROCE %	23%	18%	18%	16%	18%	18%	14%	14%	15%	21%	26%	27%

Shareholding Pattern
Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	19.39%	19.37%	19.37%	19.33%	19.33%	18.58%	18.55%	18.53%	18.48%	18.45%	18.43%	18.43%
FIIs	39.16%	39.24%	40.14%	40.26%	40.86%	41.75%	41.90%	41.18%	38.92%	38.30%	38.53%	38.04%
DIIs	27.72%	27.66%	26.89%	26.79%	26.26%	26.13%	26.18%	27.04%	29.22%	29.77%	29.57%	29.95%
Public	9.77%	9.81%	9.71%	9.73%	9.71%	9.70%	9.57%	9.44%	9.66%	9.78%	9.77%	9.93%