Mahindra & Mahindra Financial Services quarterly results and financials

Mahindra & Mahindra Financial Services (M&MFIN)₹280.25−2.03%(9 Nov 2026 close)Non Banking Financial Company (NBFC)

Key facts

In the Sep 2026 quarter (consolidated), Mahindra & Mahindra Financial Services reported revenue of ₹5,925 Cr, up 18.2% from Sep 2025, and net profit of ₹908 Cr, up 60.9% year on year. For the year to Mar 2026, revenue were ₹20,998 Cr and net profit ₹2,850 Cr.

Revenue (Sep 2026): ₹5,925 Cr
Net profit (Sep 2026): ₹908 Cr
Revenue (FY Mar 2026): ₹20,998 Cr
Net profit (FY Mar 2026): ₹2,850 Cr
EPS (Sep 2026): ₹6.53
Borrowings (Mar 2026): ₹1.28 L Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Mahindra & Mahindra Financial Services quarterly results

₹ crore unless stated; each column is a quarter.

Mahindra & Mahindra Financial Services Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	4,091	4,269	4,308	4,453	4,789	4,877	4,983	5,012	5,435	5,528	5,705	5,925
Interest	1,799	1,864	1,961	2,064	2,178	2,222	2,282	2,199	2,238	2,224	2,375	2,526
Net interest income	2,292	2,404	2,347	2,389	2,612	2,655	2,701	2,812	3,197	3,304	3,330	3,399
Expenses	1,451	1,514	1,671	1,824	1,319	1,996	1,957	2,008	1,908	1,979	2,027	2,119
Financing Profit	848	902	681	574	1,302	669	748	816	1,306	1,335	1,316	1,287
Financing Margin %	21.1%	21.0%	16.0%	13.0%	27.0%	14.0%	15.1%	16.0%	24.1%	24.0%	23.0%	22.1%
Other Income	50.01	68.02	57.97	27.99	19.01	27.02	42.97	39.01	−99.91	37.01	29.01	48.02
Depreciation	68.98	72.02	75.92	78.96	81.91	84.97	85.96	93.89	95.99	110	98.91	109
Profit before tax	824	895	660	522	1,232	608	703	757	1,104	1,257	1,240	1,222
Tax %	25.1%	25.1%	25.1%	25.1%	26.1%	25.1%	25.1%	25.1%	25.1%	25.1%	25.1%	26.1%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−98.85	0.00	0.00	0.00
Net Profit	621	668	495	389	914	455	527	564	823	937	924	908
EPS (Rs)	4.47	4.81	3.57	2.81	6.61	3.28	3.79	4.05	5.94	6.74	6.65	6.53
Gross NPA %	4.0%	3.4%	3.6%	3.8%	3.9%	3.7%	3.9%	3.9%	3.8%	3.4%	3.5%	—
Net NPA %	1.5%	1.3%	1.5%	1.6%	2.0%	1.8%	1.9%	1.9%	1.8%	1.4%	1.5%	—
Provision coverage (approx., excl. write-offs) %	61.7%	62.4%	59.0%	58.5%	49.1%	50.1%	50.4%	52.0%	52.1%	57.8%	57.1%	—

Mahindra & Mahindra Financial Services profit and loss

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

Mahindra & Mahindra Financial Services 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
Revenue	6,568	7,170	7,893	10,405	11,962	12,348	11,394	12,801	15,920	18,485	20,998	22,592
Interest	2,872	3,191	3,439	4,435	5,394	5,315	4,424	5,099	6,972	8,431	8,949	9,362
Net interest income	3,695	3,979	4,454	5,970	6,568	7,032	6,970	7,702	8,949	10,054	12,049	13,230
Expenses	2,450	3,112	2,540	3,119	4,887	6,027	5,327	4,677	6,181	6,813	7,845	8,032
Financing Profit	1,263	882	1,932	2,875	1,706	1,031	1,660	3,049	2,806	3,281	4,238	5,244
Financing Margin %	19.0%	12.1%	24.1%	28.1%	14.1%	8.0%	14.1%	24.0%	18.0%	18.0%	20.0%	23.2%
Other Income	12.01	11.99	32.98	49.02	46.96	57.01	47.03	−7.99	64.02	77.05	−17.01	14.13
Depreciation	45.95	54.02	54.96	75.96	147	151	152	226	275	321	386	414
Profit before tax	1,221	836	1,904	2,838	1,600	933	1,548	2,800	2,585	3,020	3,819	4,823
Tax %	36.1%	37.1%	36.1%	34.1%	32.1%	16.1%	26.1%	26.1%	25.1%	25.1%	25.1%	—
Exceptional items	0.00	0.00	0.00	0.99	0.00	108	15.99	−38.97	4.99	4.99	−98.98	−98.85
Net Profit	784	528	1,211	1,861	1,082	777	1,146	2,063	1,935	2,254	2,850	3,591
EPS (Rs)	6.02	3.99	8.54	13.13	7.72	5.55	8.17	14.89	13.89	16.26	20.52	25.86
Dividend payout %	29.0%	27.0%	21.1%	22.1%	0.0%	13.1%	39.1%	36.0%	40.0%	35.0%	37.1%	—

Mahindra & Mahindra Financial Services balance sheet

₹ crore, at each year end.

Mahindra & Mahindra Financial Services 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	112	113	113	122	122	122	245	246	246	246	246	277
Reserves	5,812	6,342	6,826	9,709	11,114	11,838	15,507	16,624	18,292	19,659	21,247	26,326
Borrowings	29,142	33,934	40,525	44,863	58,616	65,495	65,013	61,963	81,250	98,040	1,18,872	1,28,073
Other Liabilities	3,442	4,472	5,592	3,870	4,483	4,169	4,701	4,764	5,072	5,437	3,466	3,618
Total Liabilities	38,508	44,861	53,057	58,564	74,336	81,625	85,466	83,596	1,04,860	1,23,382	1,43,831	1,58,294
Fixed Assets	119	129	133	147	201	454	398	514	869	1,007	1,205	1,325
CWIP	0.00	0.00	1.01	0.00	1.01	1.01	12.05	2.01	3.01	105	66.28	7.02
Investments	655	1,201	1,377	2,382	3,334	5,348	12,150	8,674	10,080	9,616	10,598	7,415
Other Assets	37,734	43,531	51,545	56,035	70,799	75,822	72,905	74,405	93,908	1,12,653	1,31,962	1,49,547
Trade receivables	14.96	19.93	22.94	55.83	53.83	52.81	54.88	64.84	97.69	172	246	325
Cash & equivalents	496	608	606	480	997	1,537	4,053	4,849	4,082	3,470	5,870	7,600
Total Assets	38,508	44,861	53,057	58,564	74,336	81,625	85,466	83,596	1,04,860	1,23,382	1,43,831	1,58,294

Mahindra & Mahindra Financial Services cash flow

₹ crore, for each year.

Mahindra & Mahindra Financial Services 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	−3,962	−4,946	−6,455	−8,488	−12,062	−3,108	5,819	17.98	−17,359	−18,407	−15,582	−12,743
Cash from investing activity	33.89	−438	−96.60	242	−1,209	−2,681	−8,325	3,100	−1,629	2,664	−1,073	767
Cash from financing activity	3,911	5,437	6,778	8,193	13,506	6,063	2,550	−3,179	18,892	16,120	17,639	10,655
Net cash flow	−28.94	33.91	202	−92.73	199	245	25.94	−42.86	−179	316	925	−1,361
Capex	44.91	54.89	62.87	69.91	136	118	45.91	301	412	323	441	415
Free cash flow	−4,020	−5,027	−6,548	−8,614	−12,243	−3,240	5,801	−277	−17,863	−18,785	−16,023	−13,164

Mahindra & Mahindra Financial Services ratios

Working-capital days and returns, by year.

Mahindra & Mahindra Financial Services 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
ROE %	16.0%	12.1%	8.1%	14.0%	17.0%	9.0%	5.0%	7.1%	12.1%	10.0%	11.1%	12.0%

Mahindra & Mahindra Financial Services: frequently asked questions

What are the latest quarterly results of Mahindra & Mahindra Financial Services?

For the Sep 2026 quarter, Mahindra & Mahindra Financial Services reported revenue of ₹5,925 Cr, up 18.2% year on year and net profit of ₹908 Cr, up 60.9% year on year.

What is the annual revenue of Mahindra & Mahindra Financial Services?

Mahindra & Mahindra Financial Services' revenue for the year to Mar 2026 were ₹20,998 Cr; over the last twelve months they were ₹22,592 Cr.

What is the net profit of Mahindra & Mahindra Financial Services?

Net profit for the year to Mar 2026 was ₹2,850 Cr, and ₹3,591 Cr over the last twelve months. Earnings per share over the same trailing period were ₹25.86.

What is the free cash flow of Mahindra & Mahindra Financial Services?

Cash from operations was −₹12,743 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹13,164 Cr.

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