Valuation Mahindra & Mahindra Limited

Stocks

M&M

INE101A01026

Auto & Truck Manufacturers

Market Closed - NSE India S.E. Other stock markets 04:35:09 15/07/2026 pm IST			5-day change	1st Jan Change
3,082.90 ^INR	-0.34%		-0.63%	-16.89%

10/07	Indian shares set to open higher; TCS in focus after revenue beat	RE
06/07	Alternative-fuel vehicles hit record market share in June after Iran war	RE

Company Valuation: Mahindra & Mahindra Limited

Data adjusted to current consolidation scope

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Market Cap ¹	8,95,511	12,89,016	21,39,707	29,71,769	32,98,371	34,56,978	-	-
Change	-	43.94%	66%	38.89%	10.99%	4.81%	-	-
Enterprise Value (EV) ¹	8,44,884	11,95,155	20,15,830	27,44,319	29,79,287	31,38,269	30,58,110	29,99,705
Change	-	41.46%	68.67%	36.14%	8.56%	5.34%	-2.55%	-1.91%
P/E	19.6x	21.3x	21.6x	27.1x	22.8x	21.8x	19.3x	17.1x
PBR	2.48x	3.2x	4.41x	5.21x	4.79x	4.25x	3.63x	3.11x
PEG	-	0.7x	0.3x	2.6x	0.7x	2.37x	1.5x	1.3x
Capitalization / Revenue	1.56x	1.52x	2.17x	2.55x	2.27x	2.09x	1.89x	1.7x
EV / Revenue	1.47x	1.41x	2.04x	2.36x	2.05x	1.9x	1.67x	1.48x
EV / EBITDA	12x	11.4x	15.6x	16x	14.2x	13.8x	11.8x	10.3x
EV / EBIT	18.4x	16.4x	21.3x	21.3x	17.9x	17.4x	14.7x	12.9x
EV / FCF	22x	25x	32.3x	23.9x	18.1x	27.3x	19.9x	17.1x
FCF Yield	4.55%	4%	3.1%	4.19%	5.52%	3.67%	5.02%	5.86%
Dividend per Share ²	11.55	16.25	21.1	25.3	33	35.47	38.14	45.31
Rate of return	1.43%	1.4%	1.1%	0.95%	1.12%	1.15%	1.23%	1.46%
EPS ²	41.13	54.49	89.08	98.45	129.8	141.7	160.4	180.9
Distribution rate	28.1%	29.8%	23.7%	25.7%	25.4%	25%	23.8%	25%
Net sales ¹	5,74,460	8,49,603	9,87,634	11,64,837	14,55,758	16,51,954	18,28,056	20,28,526
EBITDA ¹	70,423	1,04,424	1,29,194	1,71,226	2,09,774	2,27,909	2,59,205	2,91,490
EBIT ¹	45,912	72,879	94,806	1,28,958	1,66,848	1,80,368	2,07,362	2,33,437
Net income ¹	49,352	65,486	1,07,178	1,18,550	1,56,389	1,70,849	1,93,170	2,16,307
Net Debt ¹	-50,626	-93,860	-1,23,877	-2,27,450	-3,19,084	-3,18,709	-3,98,868	-4,57,273
Reference price ²	806.55	1,158.70	1,921.35	2,665.80	2,954.70	3,093.30	3,093.30	3,093.30
Nbr of stocks (in thousands)	11,10,298	11,12,467	11,13,648	11,14,776	11,16,313	11,17,570	-	-
Announcement Date	28/05/22	26/05/23	16/05/24	05/05/25	05/05/26	-	-	-

¹INR in Million²INR

Estimates

P/E, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
MAHINDRA & MAHINDRA LIMITED	21.83x	1.9x	13.77x	1.15%	3.6TCr
TOYOTA MOTOR CORPORATION	9.52x	1.24x	11.38x	3.59%	21TCr
GENERAL MOTORS COMPANY	6.36x	0.33x	2.62x	0.97%	6.93TCr
HYUNDAI MOTOR COMPANY	9.58x	1.26x	13.66x	2.66%	6.57TCr
FORD MOTOR COMPANY	21.21x	0.28x	3.69x	4.32%	5.55TCr
MERCEDES-BENZ GROUP AG	7.83x	0.09x	0.87x	7.29%	4.77TCr
PORSCHE AG	24.09x	1.32x	7.42x	2.37%	4.53TCr
VOLKSWAGEN AG	3.76x	-0x	-0.01x	7.9%	4.18TCr
BMW AG	7.48x	-0.08x	-0.67x	5.07%	3.98TCr
HONDA MOTOR CO., LTD.	13.58x	0.6x	7.18x	4.62%	3.64TCr
Average	12.52x	0.69x	5.99x	3.99%	6.45TCr
Weighted average by Cap.	11.51x	0.82x	7.37x	3.76%