Mahindra & Mahindra quarterly results and financials

Mahindra & Mahindra (M&M)₹3,291+0.70%(9 Nov 2026 close)Passenger Cars & Utility Vehicles

Key facts

In the Jun 2026 quarter (consolidated), Mahindra & Mahindra reported sales of ₹58,342 Cr, up 27.7% from Jun 2025, and net profit of ₹5,991 Cr, up 37.0% year on year. For the year to Mar 2026, sales were ₹1.99 L Cr and net profit ₹18,620 Cr.

Sales (Jun 2026): ₹58,342 Cr
Net profit (Jun 2026): ₹5,991 Cr
Sales (FY Mar 2026): ₹1.99 L Cr
Net profit (FY Mar 2026): ₹18,620 Cr
EPS (Jun 2026): ₹43.82
Borrowings (Mar 2026): ₹1.37 L Cr

Company filings, consolidated accounts; latest reported quarter Jun 2026

Mahindra & Mahindra quarterly results

₹ crore unless stated; each column is a quarter.

Mahindra & Mahindra Quarterly results
	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	34,537	35,396	35,577	37,338	38,054	41,592	42,719	45,683	46,277	52,243	55,160	58,342
Expenses	28,699	29,066	28,858	29,963	30,770	33,233	34,654	37,090	37,131	41,910	44,868	47,354
Operating Profit	5,714	6,209	6,590	7,221	7,118	8,218	7,919	8,392	8,923	10,129	10,096	10,801
OPM %	17.0%	18.0%	19.0%	19.0%	19.0%	20.0%	19.0%	18.0%	19.0%	20.0%	18.0%	19.0%
Other Income	810	754	749	732	1,124	718	1,108	1,208	1,133	974	1,136	1,119
Interest	1,838	1,950	1,991	2,113	2,222	2,365	2,401	2,434	2,350	2,408	2,411	2,564
Depreciation	1,143	1,127	1,340	1,252	1,305	1,499	2,034	1,553	1,673	2,171	1,949	1,765
Profit before tax	3,563	3,911	4,025	4,620	4,738	5,086	4,625	5,638	6,048	6,560	6,911	7,623
Tax %	30.0%	24.0%	22.0%	23.0%	29.0%	29.0%	23.0%	22.0%	35.0%	24.0%	24.0%	21.0%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	−23.03	−143	−7.02	−262	−304	−207
Net Profit	2,483	2,978	3,123	3,546	3,358	3,621	3,542	4,374	3,963	5,016	5,259	5,991
EPS (Rs)	18.86	21.37	22.16	26.37	25.51	25.56	26.49	32.85	29.53	37.58	37.54	43.82

Mahindra & Mahindra profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Mahindra & Mahindra Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	76,024	84,023	92,357	1,04,954	75,550	74,556	90,507	1,21,694	1,39,570	1,59,660	1,99,284	2,12,023
Expenses	65,752	73,040	78,823	89,498	65,188	62,799	75,479	1,01,085	1,14,226	1,28,677	1,61,705	1,71,262
Operating Profit	10,051	10,710	13,189	15,170	10,141	11,469	14,639	20,291	24,838	30,428	36,868	39,950
OPM %	13.0%	13.0%	14.0%	15.0%	13.0%	15.0%	16.1%	17.0%	18.0%	19.0%	19.0%	18.8%
Other Income	1,397	2,073	4,359	2,672	884	1,150	3,198	3,913	3,292	3,710	5,113	4,362
Interest	3,374	3,654	3,991	5,031	6,035	6,117	5,024	5,844	7,496	9,096	9,609	9,734
Depreciation	2,448	2,822	3,292	4,001	3,376	3,386	3,518	4,367	4,742	6,090	7,344	7,558
Profit before tax	5,666	6,340	10,318	8,859	1,652	3,154	9,351	14,038	15,956	19,071	25,175	27,142
Tax %	37.0%	36.0%	23.0%	32.0%	119.0%	52.0%	23.0%	19.0%	23.0%	26.0%	26.0%	—
Exceptional items	27.05	285	1,784	149	434	−420	322	1,009	0.00	0.00	−214	−779
Net Profit	3,554	4,047	7,950	6,019	−321	1,510	7,253	11,364	12,264	14,071	18,620	20,230
EPS (Rs)	25.33	29.78	60.37	42.77	1.03	14.57	52.86	82.60	90.64	103.95	137.53	148.47
Dividend payout %	20.9%	22.0%	10.9%	17.0%	204.9%	54.0%	20.0%	18.0%	21.0%	22.0%	21.9%	—

Mahindra & Mahindra balance sheet

₹ crore, at each year end.

Mahindra & Mahindra Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	297	270	311	543	545	554	555	557	558	557	558	559
Reserves	25,599	26,284	29,504	36,284	39,524	39,516	41,078	46,690	55,923	65,754	76,580	92,708
Borrowings	37,965	41,592	48,860	55,957	70,939	82,259	80,702	77,685	92,724	1,08,874	1,29,227	1,37,096
Other Liabilities	30,630	31,839	35,329	43,738	51,097	43,572	42,819	47,738	55,415	59,850	69,910	86,235
Total Liabilities	94,490	99,987	1,14,003	1,36,523	1,62,106	1,65,902	1,65,154	1,72,668	2,04,619	2,35,037	2,76,275	3,16,599
Fixed Assets	19,113	20,661	21,050	26,282	29,055	29,762	21,440	26,115	27,225	28,207	34,765	38,568
CWIP	3,036	2,373	4,288	4,277	4,770	6,862	7,882	6,715	3,977	8,054	8,307	7,750
Investments	10,068	11,649	14,725	16,080	18,341	19,265	28,880	30,179	35,375	35,360	41,475	40,497
Other Assets	62,274	65,304	73,940	89,885	1,09,940	1,10,011	1,06,954	1,09,659	1,38,042	1,63,413	1,91,728	2,29,785
Inventories	8,457	9,117	8,882	9,344	12,210	11,111	9,623	11,598	16,865	18,589	20,352	22,053
Trade receivables	5,464	5,803	7,180	8,474	8,657	6,913	5,996	6,354	7,007	7,437	8,259	9,035
Cash & equivalents	4,927	4,537	4,667	6,561	8,762	7,936	12,889	11,139	11,303	12,044	20,670	32,067
Total Assets	94,490	99,987	1,14,003	1,36,523	1,62,106	1,65,902	1,65,154	1,72,668	2,04,619	2,35,037	2,76,275	3,16,599

Mahindra & Mahindra cash flow

₹ crore, for each year.

Mahindra & Mahindra Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	1,050	2,377	182	679	−4,330	−1,452	17,838	9,210	−7,047	−5,611	3,162	11,606
Cash from investing activity	−4,364	−5,516	−5,886	−5,478	−7,193	−6,883	−19,739	−3,259	−8,884	−5,626	−18,644	−17,719
Cash from financing activity	1,664	2,960	6,089	6,296	13,152	6,912	405	−5,862	15,908	12,250	15,795	5,375
Net cash flow	−1,630	−154	416	1,528	1,669	−1,392	−1,368	113	5.99	1,036	394	−631
Capex	4,771	4,183	5,039	5,925	7,357	6,919	6,011	6,063	6,321	9,984	10,426	9,635
Free cash flow	−3,662	−1,729	−4,784	−5,106	−11,555	−8,249	13,278	3,329	−13,252	−15,295	−6,638	2,544
CFO / OP %	31.0%	42.9%	20.0%	25.0%	−9.0%	8.0%	172.0%	74.0%	−21.0%	−7.0%	26.0%	47.9%

Mahindra & Mahindra ratios

Working-capital days and returns, by year.

Mahindra & Mahindra Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	28	28	31	34	30	34	30	26	21	20	19	17
Inventory days	73	75	65	65	75	107	92	83	84	82	79	66
Days payable	96	107	106	124	126	141	146	133	117	111	117	111
Cash conversion cycle	3	−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	−40
ROCE %	11.0%	13.0%	12.0%	13.0%	12.0%	7.0%	8.0%	11.0%	13.0%	14.0%	14.0%	15.0%

Mahindra & Mahindra: frequently asked questions

What are the latest quarterly results of Mahindra & Mahindra?

For the Jun 2026 quarter, Mahindra & Mahindra reported sales of ₹58,342 Cr, up 27.7% year on year and net profit of ₹5,991 Cr, up 37.0% year on year. The operating margin was 19.0%.

What is the annual revenue of Mahindra & Mahindra?

Mahindra & Mahindra's sales for the year to Mar 2026 were ₹1.99 L Cr; over the last twelve months they were ₹2.12 L Cr.

What is the net profit of Mahindra & Mahindra?

Net profit for the year to Mar 2026 was ₹18,620 Cr, and ₹20,230 Cr over the last twelve months. Earnings per share over the same trailing period were ₹148.47.

How much debt does Mahindra & Mahindra have?

Mahindra & Mahindra reported borrowings of ₹1.37 L Cr at Mar 2026, against cash and equivalents of ₹32,067 Cr.

What is the free cash flow of Mahindra & Mahindra?

Cash from operations was ₹11,606 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹2,544 Cr.

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