Cash flow Mahindra & Mahindra Limited

Equities

M&M

INE101A01026

Auto & Truck Manufacturers

Market Closed - NSE India S.E. Other stock markets 05:19:42 16/07/2025 pm IST			5-day change	1st Jan Change
3,196.50 ^INR	+2.17%		+1.22%	+6.30%

16/07	Indian Markets End Flat on Wednesday as Public Sector Banks Offset Metal Weakness	MT
16/07	INDIA STOCKS-Indian benchmarks inch lower dragged by auto stocks; HDFC Bank caps losses	RE

1ff23809be2d2c57827302d53.OH8cG5SMiTewaCVpjGZ75UgLpKOmm5aRkuRJZtJvMP4.VDRzIq29zVrBAn0C6ytM0BlYnZv36uTLyKB_XqcLB6pcGi995dnOWu8kEQ

Published financial data: MAHINDRA & MAHINDRA LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	74TCr	90TCr	1,21300Cr	1,22600Cr	1,40500Cr
Finance Div. Revenues	-	-	-	16TCr	18TCr
Gain (Loss) on Sale of Investment, Total (Rev)	-	-	-	-	-
Interest And Invest. Income (Rev)	461.24Cr	418.38Cr	528.01Cr	784.77Cr	1.24TCr
Other Revenues, Total	380.99Cr	355.65Cr	426.73Cr	1.87TCr	873.8Cr
Total Revenues	75TCr	91TCr	1,22200Cr	1,40900Cr	1,60900Cr
Cost of Goods Sold, Total	39TCr	52TCr	75TCr	84TCr	97TCr
Gross Profit	36TCr	39TCr	48TCr	57TCr	64TCr
Selling General & Admin Expenses, Total	8.77TCr	9.7TCr	11TCr	12TCr	13TCr
Depreciation & Amortization - (IS)	3.38TCr	3.5TCr	4.33TCr	4.54TCr	5.56TCr
Other Operating Expenses	13TCr	13TCr	15TCr	17TCr	19TCr
Other Operating Expenses, Total	25TCr	27TCr	31TCr	34TCr	38TCr
Operating Income	11TCr	12TCr	17TCr	22TCr	27TCr
Interest Expense, Total	-5.99TCr	-4.91TCr	-5.7TCr	-7.33TCr	-8.85TCr
Net Interest Expenses	-5.99TCr	-4.91TCr	-5.7TCr	-7.33TCr	-8.85TCr
Income (Loss) On Equity Invest.	1.28TCr	1.86TCr	1.51TCr	1.09TCr	1.51TCr
Other Non Operating Income (Expenses)	73Cr	57Cr	121.54Cr	167.52Cr	296.22Cr
EBT, Excl. Unusual Items	6.5TCr	8.95TCr	13TCr	16TCr	20TCr
Impairment of Goodwill	-192.85Cr	-	-122.13Cr	-33Cr	-79Cr
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	5.54Cr	-	-	-	-
Asset Writedown	-1.25TCr	-175.03Cr	-1TCr	-155Cr	-436.23Cr
Other Unusual Items	282.97Cr	584.36Cr	2.34TCr	-	-
EBT, Incl. Unusual Items	5.35TCr	9.36TCr	14TCr	16TCr	19TCr
Income Tax Expense	1.65TCr	2.11TCr	2.69TCr	3.71TCr	5.01TCr
Earnings From Continuing Operations	3.7TCr	7.25TCr	11TCr	12TCr	14TCr
Earnings Of Discontinued Operations	-2.19TCr	-	-	-	-
Net Income to Company	1.51TCr	7.25TCr	11TCr	12TCr	14TCr
Minority Interest	300.1Cr	-675.69Cr	-1.09TCr	-1TCr	-1.14TCr
Net Income - (IS)	1.81TCr	6.58TCr	10TCr	11TCr	13TCr
Net Income to Common Incl Extra Items	1.81TCr	6.58TCr	10TCr	11TCr	13TCr
Net Income to Common Excl. Extra Items	4TCr	6.58TCr	10TCr	11TCr	13TCr
Per Share Items
Net EPS - Basic	16.34	59.2	92.41	101.14	115.91
Basic EPS - Continuing Operations	36.07	59.2	92.41	101.14	115.91
Basic Weighted Average Shares Outstanding	110.94Cr	111.09Cr	111.26Cr	111.42Cr	111.55Cr
Net EPS - Diluted	16.15	58.83	91.96	100.7	115.06
Diluted EPS - Continuing Operations	35.8	58.83	91.96	100.7	115.06
Diluted Weighted Average Shares Outstanding	111.44Cr	111.55Cr	111.73Cr	111.88Cr	111.97Cr
Normalized Basic EPS	39.33	44.28	62.3	81.69	99.54
Normalized Diluted EPS	39.15	44.1	62.04	81.36	99.16
Dividend Per Share	8.75	11.55	16.25	21.1	25.3
Payout Ratio	14.58	14.91	12.5	16.07	18.16
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	13TCr	14TCr	19TCr	25TCr	30TCr
EBITA	11TCr	12TCr	17TCr	22TCr	27TCr
EBIT	11TCr	12TCr	17TCr	22TCr	27TCr
EBITDAR	13TCr	14TCr	20TCr	25TCr	30TCr
Total Revenues (As Reported)	75TCr	91TCr	1,22500Cr	1,41300Cr	1,61400Cr
Effective Tax Rate - (Ratio)	30.78	22.53	19.1	23.21	26.24
Total Current Taxes	2.01TCr	1.87TCr	2.74TCr	3.6TCr	4.85TCr
Total Deferred Taxes	-369.08Cr	240.66Cr	-56Cr	110.58Cr	154.52Cr
Normalized Net Income	4.36TCr	4.92TCr	6.93TCr	9.1TCr	11TCr
Interest Capitalized	-	-	-	119.37Cr	95Cr
Interest on Long-Term Debt	133.51Cr	159.05Cr	184.74Cr	198.39Cr	252.58Cr
Non-Cash Pension Expense	31Cr	48Cr	13Cr	20Cr	12Cr
Supplemental Operating Expense Items
Advertising Expense	719.25Cr	1.04TCr	1.2TCr	1.31TCr	1.43TCr
Selling and Marketing Expenses	719.25Cr	1.04TCr	1.2TCr	1.31TCr	1.43TCr
Research And Development Expense From Footnotes	868.4Cr	909.52Cr	858.48Cr	2.28TCr	2.74TCr
Net Rental Expense, Total	232.79Cr	271.95Cr	323.82Cr	366Cr	345.84Cr
Imputed Operating Lease Interest Expense	136.72Cr	134.72Cr	172.93Cr	216.15Cr	207.59Cr
Imputed Operating Lease Depreciation	96Cr	137.23Cr	150.89Cr	149.85Cr	138.25Cr
Maintenance & Repair Expenses, Total	608.7Cr	641.94Cr	715.4Cr	776.31Cr	963.91Cr
Stock-Based Comp., SG&A Exp. (Total)	142.72Cr	108.42Cr	146.08Cr	130.64Cr	121.91Cr
Total Stock-Based Compensation	142.72Cr	108.42Cr	146.08Cr	130.64Cr	121.91Cr

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	3.37TCr	3.49TCr	3.49TCr	4.53TCr	4.92TCr
Short Term Investments	13TCr	10TCr	12TCr	12TCr	19TCr
Trading Asset Securities, Total	7.46TCr	9.04TCr	11TCr	9.58TCr	17TCr
Total Cash And Short Term Investments	23TCr	23TCr	26TCr	26TCr	41TCr
Accounts Receivable, Total	6.09TCr	6.52TCr	7.2TCr	7.69TCr	8.54TCr
Other Receivables	692.35Cr	811.71Cr	878.45Cr	1.34TCr	2.55TCr
Notes Receivable	29TCr	29TCr	35TCr	39TCr	45TCr
Total Receivables	36TCr	37TCr	43TCr	48TCr	56TCr
Inventory	9.62TCr	12TCr	17TCr	19TCr	20TCr
Restricted Cash	34Cr	32Cr	44Cr	39Cr	43Cr
Other Current Assets, Total	3.15TCr	4.25TCr	5.21TCr	5.32TCr	9.39TCr
Total Current Assets	72TCr	75TCr	91TCr	98TCr	1,26600Cr
Gross Property Plant And Equipment	39TCr	43TCr	42TCr	47TCr	55TCr
Accumulated Depreciation	-17TCr	-19TCr	-20TCr	-22TCr	-25TCr
Net Property Plant And Equipment	22TCr	25TCr	22TCr	25TCr	29TCr
Long-term Investments	19TCr	20TCr	23TCr	24TCr	20TCr
Goodwill	1.3TCr	1.34TCr	2.55TCr	2.45TCr	2.37TCr
Other Intangibles, Total	3.7TCr	4.08TCr	3.22TCr	5.1TCr	5.25TCr
Accounts Receivable Long-Term	375Cr	313.81Cr	289.59Cr	287.24Cr	256.54Cr
Loans Receivable Long-Term	39TCr	39TCr	53TCr	68TCr	80TCr
Deferred Tax Assets Long-Term	1.72TCr	1.72TCr	1.62TCr	1.58TCr	1.57TCr
Deferred Charges Long-Term	2.81TCr	3.03TCr	4.47TCr	4.49TCr	6.58TCr
Other Long-Term Assets, Total	4.67TCr	4.37TCr	5.05TCr	7.37TCr	6.18TCr
Total Assets	1,66500Cr	1,74100Cr	2,05900Cr	2,36300Cr	2,77600Cr
Liabilities
Accounts Payable, Total	16TCr	19TCr	24TCr	26TCr	31TCr
Accrued Expenses, Total	4.22TCr	4.52TCr	5.3TCr	5.58TCr	6.56TCr
Short-term Borrowings	4.65TCr	5.37TCr	9.07TCr	11TCr	8.19TCr
Current Portion of Long-Term Debt	21TCr	21TCr	25TCr	25TCr	34TCr
Current Portion of Leases	538.27Cr	505.48Cr	597.34Cr	608.37Cr	606.22Cr
Current Income Taxes Payable	438.82Cr	392.02Cr	615.99Cr	542.52Cr	719.68Cr
Unearned Revenue Current, Total	1.96TCr	2.32TCr	2.75TCr	3.66TCr	5.17TCr
Other Current Liabilities	3.6TCr	3.38TCr	3.6TCr	3.98TCr	4.57TCr
Total Current Liabilities	51TCr	56TCr	71TCr	76TCr	90TCr
Long-Term Debt	53TCr	49TCr	56TCr	70TCr	84TCr
Long-Term Leases	2.13TCr	2.43TCr	2.88TCr	2.81TCr	3.17TCr
Unearned Revenue Non Current	4.77TCr	5.25TCr	5.53TCr	5.95TCr	6.19TCr
Pension & Other Post Retirement Benefits	1.19TCr	1.02TCr	1.19TCr	965.4Cr	1.04TCr
Deferred Tax Liability Non Current	1.49TCr	1.79TCr	1.61TCr	1.77TCr	1.91TCr
Other Non Current Liabilities	2.01TCr	1.74TCr	1.46TCr	1.67TCr	1.95TCr
Total Liabilities	1,15800Cr	1,17300Cr	1,38800Cr	1,58800Cr	1,88500Cr
Common Stock, Total	555.15Cr	556.06Cr	556.82Cr	557.38Cr	558.15Cr
Additional Paid In Capital	2.54TCr	2.65TCr	2.75TCr	2.82TCr	2.93TCr
Retained Earnings	38TCr	44TCr	53TCr	63TCr	73TCr
Comprehensive Income and Other	485.51Cr	283.84Cr	202.01Cr	228.61Cr	429.08Cr
Total Common Equity	42TCr	47TCr	56TCr	66TCr	77TCr
Minority Interest	9.07TCr	9.7TCr	11TCr	11TCr	12TCr
Total Equity	51TCr	57TCr	67TCr	78TCr	89TCr
Total Liabilities And Equity	1,66500Cr	1,74100Cr	2,05900Cr	2,36300Cr	2,77600Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	111.03Cr	111.21Cr	111.36Cr	111.48Cr	111.63Cr
ECS Total Common Shares Outstanding	111.03Cr	111.21Cr	111.36Cr	111.48Cr	111.63Cr
Book Value / Share	374.51	423.71	506.14	593.76	690.12
Tangible Book Value	37TCr	42TCr	51TCr	59TCr	69TCr
Tangible Book Value Per Share	329.43	374.93	454.32	526.01	621.83
Total Debt	81TCr	78TCr	93TCr	1,09000Cr	1,29500Cr
Net Debt	57TCr	55TCr	66TCr	83TCr	88TCr
Debt Equivalent of Unfunded Proj. Benefit Obligation	478.52Cr	451.81Cr	440.98Cr	358.99Cr	371.47Cr
Debt Equivalent Oper. Leases	1.86TCr	2.18TCr	2.59TCr	2.93TCr	2.77TCr
Minority Interest, Total (Incl. Fin. Div)	9.07TCr	9.7TCr	11TCr	11TCr	12TCr
Equity Method Investments, Total	12TCr	13TCr	14TCr	14TCr	14TCr
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	3.36TCr	4.49TCr	7.29TCr	6.34TCr	6.83TCr
Inventories - Work In Process, Total	2.22TCr	2.16TCr	2.67TCr	4.02TCr	5.08TCr
Inventories - Finished Goods, Total	3.8TCr	4.67TCr	6.52TCr	7.89TCr	8.08TCr
Inventories - Others	238.49Cr	278.79Cr	374.12Cr	341.7Cr	341.58Cr
Land - (BS)	1.03TCr	1.09TCr	1.24TCr	1.31TCr	1.31TCr
Buildings, Total	5.73TCr	6.53TCr	6.75TCr	7.13TCr	7.94TCr
Machinery, Total	24TCr	28TCr	27TCr	30TCr	35TCr
Full Time Employees	3L	3L	3L	3L	3L
Assets on Operating Lease - Gross	-	-	-	-	-
Assets on Operating Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	406.78Cr	400.73Cr	348.5Cr	414.36Cr	476.68Cr

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	1.81TCr	6.58TCr	10TCr	11TCr	13TCr
Depreciation & Amortization - CF	2.38TCr	2.53TCr	3.01TCr	3.1TCr	3.69TCr
Amortization of Goodwill and Intangible Assets - (CF)	34Cr	36Cr	44Cr	56Cr	46Cr
Depreciation & Amortization, Total	2.42TCr	2.57TCr	3.05TCr	3.16TCr	3.74TCr
Amortization of Deferred Charges, Total - (CF)	951.33Cr	932.2Cr	1.28TCr	1.38TCr	1.82TCr
(Gain) Loss From Sale Of Asset	-11Cr	39Cr	-15Cr	-27Cr	-302.37Cr
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	11Cr	4.84Cr	28Cr	187.52Cr	515.47Cr
Stock-Based Compensation (CF)	132.84Cr	105.25Cr	139.75Cr	128.86Cr	120.15Cr
Net Cash From Discontinued Operations	-2.44TCr	-13Cr	-	-	-
Other Operating Activities, Total	1.61TCr	-1.27TCr	-1.9TCr	-2.55TCr	-1.53TCr
Change In Accounts Receivable	-891.48Cr	-2.04TCr	-2.9TCr	-1.89TCr	-3.78TCr
Change In Inventories	225.74Cr	-2.17TCr	-5.25TCr	-1.75TCr	-1.65TCr
Change In Accounts Payable	7.05TCr	4.97TCr	7.01TCr	4.35TCr	8.49TCr
Change in Other Net Operating Assets	5.79TCr	-461.61Cr	-19TCr	-20TCr	-17TCr
Cash from Operations	17TCr	9.23TCr	-7.07TCr	-5.63TCr	3.18TCr
Capital Expenditure	-5.99TCr	-6.04TCr	-6.3TCr	-9.95TCr	-10TCr
Sale of Property, Plant, and Equipment	1.36TCr	119.94Cr	137.78Cr	273.23Cr	582.96Cr
Cash Acquisitions	-	-42Cr	-586.58Cr	-53Cr	-
Divestitures	178.06Cr	5.72Cr	740.28Cr	20Cr	-
Investment in Marketable and Equity Securities, Total	-15TCr	1.44TCr	-4.37TCr	1.7TCr	-11TCr
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	746.65Cr	1.29TCr	1.84TCr	2.41TCr	2.03TCr
Cash from Investing	-18TCr	-3.23TCr	-8.55TCr	-5.6TCr	-19TCr
Short Term Debt Issued, Total	-	-	516.71Cr	-	-
Long-Term Debt Issued, Total	38TCr	54TCr	56TCr	61TCr	83TCr
Total Debt Issued	38TCr	54TCr	56TCr	61TCr	83TCr
Short Term Debt Repaid, Total	-1.73TCr	-285.21Cr	-	-362.03Cr	-462.16Cr
Long-Term Debt Repaid, Total	-36TCr	-58TCr	-38TCr	-47TCr	-65TCr
Total Debt Repaid	-38TCr	-58TCr	-38TCr	-48TCr	-66TCr
Issuance of Common Stock	58L	92L	53L	51L	73L
Issuance of Preferred Stock	-	-	400Cr	1.6TCr	2.05TCr
Common Dividends Paid	-264.33Cr	-980.44Cr	-1.28TCr	-1.81TCr	-2.35TCr
Common & Preferred Stock Dividends Paid	-264.33Cr	-980.44Cr	-1.28TCr	-1.81TCr	-2.35TCr
Other Financing Activities, Total	627.97Cr	-976.8Cr	-985.72Cr	-1.23TCr	-881.38Cr
Cash from Financing	406.23Cr	-5.88TCr	16TCr	12TCr	16TCr
Foreign Exchange Rate Adjustments	14Cr	-13Cr	34Cr	-12Cr	9.98Cr
Miscellaneous Cash Flow Adjustments	-	-	-352.87Cr	-4.97Cr	-
Net Change in Cash	-1.37TCr	113Cr	5.82Cr	1.04TCr	393.79Cr
Supplemental Items
Cash Interest Paid	809.23Cr	679.5Cr	734.4Cr	596.87Cr	435.97Cr
Cash Income Tax Paid (Refund)	1.85TCr	1.56TCr	2.77TCr	4TCr	4.76TCr
Levered Free Cash Flow	3.31TCr	2.26TCr	-780.21Cr	195.52Cr	2.53TCr
Unlevered Free Cash Flow	7.06TCr	5.33TCr	2.78TCr	4.78TCr	8.06TCr
Change In Net Working Capital	-2.58TCr	-291.16Cr	5.96TCr	3.84TCr	3.88TCr
Net Debt Issued / Repaid	42Cr	-3.93TCr	18TCr	14TCr	17TCr

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.18	4.39	5.56	6.29	6.48
Return on Total Capital	5.33	5.61	7.17	8.02	8.22
Return On Equity %	7.53	13.5	18.36	16.97	16.89
Return on Common Equity	9.81	14.83	19.87	18.39	18.05
Margin Analysis
Gross Profit Margin %	48.28	42.5	38.88	40.12	39.88
SG&A Margin	11.67	10.67	9.17	8.73	8.02
EBITDA Margin %	17.43	15.44	15.86	17.56	18.45
EBITA Margin %	14.88	13.18	13.87	15.82	16.59
EBIT Margin %	14.83	13.14	13.84	15.78	16.56
Income From Continuing Operations Margin %	4.93	7.98	9.31	8.71	8.75
Net Income Margin %	2.41	7.23	8.41	8	8.04
Net Avail. For Common Margin %	5.33	7.23	8.41	8	8.04
Normalized Net Income Margin	5.81	5.41	5.67	6.46	6.9
Levered Free Cash Flow Margin	4.41	2.49	-0.64	0.14	1.57
Unlevered Free Cash Flow Margin	9.4	5.86	2.28	3.39	5.01
Asset Turnover
Asset Turnover	0.45	0.53	0.64	0.64	0.63
Fixed Assets Turnover	3.06	3.87	5.26	6.07	5.92
Receivables Turnover (Average Receivables)	11.35	14.29	17.67	16.48	17.31
Inventory Turnover (Average Inventory)	3.75	4.93	5.25	4.76	4.97
Short Term Liquidity
Current Ratio	1.4	1.34	1.29	1.3	1.4
Quick Ratio	0.59	0.53	0.49	0.47	0.58
Operating Cash Flow to Current Liabilities	0.32	0.16	-0.1	-0.07	0.04
Days Sales Outstanding (Average Receivables)	32.17	25.54	20.65	22.21	21.09
Days Outstanding Inventory (Average Inventory)	97.36	74.03	69.51	76.86	73.45
Average Days Payable Outstanding	148.95	116.16	97.85	105.18	104.78
Cash Conversion Cycle (Average Days)	-19.43	-16.59	-7.69	-6.1	-10.24
Long Term Solvency
Total Debt/Equity	159.17	136.99	138.52	140.63	145.37
Total Debt / Total Capital	61.42	57.8	58.07	58.44	59.25
LT Debt/Equity	108.4	90.1	87.12	94.04	97.72
Long-Term Debt / Total Capital	41.82	38.02	36.53	39.08	39.83
Total Liabilities / Total Assets	69.57	67.36	67.42	67.2	67.9
EBIT / Interest Expense	1.86	2.43	2.97	3.03	3.01
EBITDA / Interest Expense	2.26	2.96	3.5	3.46	3.43
(EBITDA - Capex) / Interest Expense	1.26	1.73	2.4	2.11	2.26
Total Debt / EBITDA	5.95	5.36	4.66	4.29	4.26
Net Debt / EBITDA	4.22	3.8	3.33	3.26	2.91
Total Debt / (EBITDA - Capex)	10.65	9.17	6.8	7.05	6.48
Net Debt / (EBITDA - Capex)	7.56	6.5	4.87	5.36	4.42
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.4	21.07	34.39	15.26	14.14
Gross Profit, 1 Yr. Growth %	-2.81	6.59	23.43	18.85	13.47
EBITDA, 1 Yr. Growth %	-4	7.14	38.06	27.31	19.92
EBITA, 1 Yr. Growth %	4.44	7.19	41.42	31.1	19.7
EBIT, 1 Yr. Growth %	4.61	7.2	41.47	31.11	19.79
Earnings From Cont. Operations, 1 Yr. Growth %	36.46	95.93	56.82	7.87	14.7
Net Income, 1 Yr. Growth %	1.33T	262.89	56.32	9.6	14.74
Normalized Net Income, 1 Yr. Growth %	7.2	12.49	40.89	31.32	21.98
Diluted EPS Before Extra, 1 Yr. Growth %	26.08	64.34	56.31	9.51	14.26
Accounts Receivable, 1 Yr. Growth %	-12.91	7.04	10.35	6.79	11.09
Inventory, 1 Yr. Growth %	-13.47	20.6	45.35	10.3	9.36
Net Property, Plant and Equip., 1 Yr. Growth %	-18.09	12.9	-13.49	15.28	18.57
Total Assets, 1 Yr. Growth %	-0.33	4.6	18.25	14.77	17.47
Tangible Book Value, 1 Yr. Growth %	8.4	14.42	21.34	15.9	18.38
Common Equity, 1 Yr. Growth %	4.03	13.32	19.62	17.43	16.39
Cash From Operations, 1 Yr. Growth %	-1.24T	-44.56	-176.5	-20.41	-156.41
Capital Expenditures, 1 Yr. Growth %	-13.15	0.84	4.38	57.76	4.48
Levered Free Cash Flow, 1 Yr. Growth %	-355.53	-29.31	-134.49	-126.19	-366.09
Unlevered Free Cash Flow, 1 Yr. Growth %	195.7	-23.19	-47.84	69.74	121.85
Dividend Per Share, 1 Yr. Growth %	272.34	32	40.69	29.85	19.91
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-15.67	9.26	27.56	24.49	14.7
Gross Profit, 2 Yr. CAGR %	-10.24	1.78	14.47	21.19	16.13
EBITDA, 2 Yr. CAGR %	-6.22	1.46	21.62	32.76	23.56
EBITA, 2 Yr. CAGR %	-4.21	5.86	23.12	36.38	25.27
EBIT, 2 Yr. CAGR %	-4.19	5.95	23.15	36.41	25.32
Earnings From Cont. Operations, 2 Yr. CAGR %	-21.56	63.51	75.29	30.06	11.23
Net Income, 2 Yr. CAGR %	-41.61	619.54	138.17	30.89	12.14
Normalized Net Income, 2 Yr. CAGR %	-3.61	9.94	25.89	36.02	26.56
Diluted EPS Before Extra, 2 Yr. CAGR %	-14.27	43.94	60.28	30.84	11.86
Accounts Receivable, 2 Yr. CAGR %	-16.55	-3.45	8.68	8.55	8.92
Inventory, 2 Yr. CAGR %	-11.22	2.15	32.4	26.62	9.83
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.4	-3.84	-1.17	-0.14	16.91
Total Assets, 2 Yr. CAGR %	0.94	2.11	11.21	16.5	16.11
Tangible Book Value, 2 Yr. CAGR %	2.04	11.16	17.83	18.59	17.13
Common Equity, 2 Yr. CAGR %	1.98	8.58	16.43	18.52	16.91
Cash From Operations, 2 Yr. CAGR %	95.74	151.76	-34.83	-21.97	-33
Capital Expenditures, 2 Yr. CAGR %	-9.67	-6.41	2.6	28.33	28.39
Levered Free Cash Flow, 2 Yr. CAGR %	32.73	32.06	-50.62	-70.6	84.01
Unlevered Free Cash Flow, 2 Yr. CAGR %	143.95	49.48	-36.7	-5.34	69.21
Dividend Per Share, 2 Yr. CAGR %	1.46	121.7	36.28	35.16	24.78
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-6.73	-4.87	17.06	23.33	20.94
Gross Profit, 3 Yr. CAGR %	-3.02	-4.95	8.39	15.96	18.56
EBITDA, 3 Yr. CAGR %	0.57	-1.94	12.43	23.6	28.34
EBITA, 3 Yr. CAGR %	2.17	-0.52	16.59	25.86	30.57
EBIT, 3 Yr. CAGR %	2.16	-0.5	16.67	25.88	30.63
Earnings From Cont. Operations, 3 Yr. CAGR %	-22.52	6.43	61.25	49.1	24.73
Net Income, 3 Yr. CAGR %	-37.74	7.36	332.55	83.88	25.27
Normalized Net Income, 3 Yr. CAGR %	0.05	1.56	19.42	27.68	31.17
Diluted EPS Before Extra, 3 Yr. CAGR %	-19.59	6.5	47.95	41.17	25.06
Accounts Receivable, 3 Yr. CAGR %	-10.46	-9.33	0.95	8.05	9.39
Inventory, 3 Yr. CAGR %	0.99	-1.68	14.9	24.58	20.58
Net Property, Plant and Equip., 3 Yr. CAGR %	-0.81	0.35	-7.17	4.03	5.74
Total Assets, 3 Yr. CAGR %	6.65	2.14	7.23	12.39	16.82
Tangible Book Value, 3 Yr. CAGR %	4.96	5.88	14.46	17.18	18.52
Common Equity, 3 Yr. CAGR %	4.18	5.63	12.14	16.76	17.8
Cash From Operations, 3 Yr. CAGR %	190.15	28.55	69.33	-30.34	-29.97
Capital Expenditures, 3 Yr. CAGR %	0.47	-6.29	-2.94	18.42	19.83
Levered Free Cash Flow, 3 Yr. CAGR %	138.53	6.34	-15.59	-60.61	3.77
Unlevered Free Cash Flow, 3 Yr. CAGR %	47.94	65.06	5.23	-11.71	14.76
Dividend Per Share, 3 Yr. CAGR %	5.27	10.76	90.51	34.1	29.87
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-0.31	1.5	5.71	5.93	16.12
Gross Profit, 5 Yr. CAGR %	3.18	2.24	3.63	4.67	11.45
EBITDA, 5 Yr. CAGR %	5.37	5.24	8.53	10.7	16.82
EBITA, 5 Yr. CAGR %	6.66	6.54	10.11	12.86	20.06
EBIT, 5 Yr. CAGR %	6.62	6.51	10.11	12.88	20.13
Earnings From Cont. Operations, 5 Yr. CAGR %	0.82	12.36	7.41	15.32	38.99
Net Income, 5 Yr. CAGR %	-10.46	12.21	6.48	16.22	152.07
Normalized Net Income, 5 Yr. CAGR %	6.99	7.56	9.73	14.15	22.23
Diluted EPS Before Extra, 5 Yr. CAGR %	4.85	11.6	5.96	15.64	32.3
Accounts Receivable, 5 Yr. CAGR %	0.94	-1.95	-3.25	-2.56	4.06
Inventory, 5 Yr. CAGR %	1.07	5.47	12.54	8.79	12.84
Net Property, Plant and Equip., 5 Yr. CAGR %	3.32	4.31	-0.96	0.15	1.8
Total Assets, 5 Yr. CAGR %	10.59	8.7	8.46	7.66	10.7
Tangible Book Value, 5 Yr. CAGR %	8.64	9.53	9.85	10.79	15.52
Common Equity, 5 Yr. CAGR %	9.43	9.64	8.92	10.61	14.02
Cash From Operations, 5 Yr. CAGR %	47.51	119.05	59.66	5.31	16.86
Capital Expenditures, 5 Yr. CAGR %	7.5	3.74	1.32	6.26	8.55
Levered Free Cash Flow, 5 Yr. CAGR %	43.39	101.32	26.15	-36.42	14.27
Unlevered Free Cash Flow, 5 Yr. CAGR %	36.66	18.42	5	32.14	27.56
Dividend Per Share, 5 Yr. CAGR %	7.84	12.18	16.72	19.94	60.85

Cash flow Mahindra & Mahindra Limited

Equities

M&amp;M

INE101A01026

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M&M