Mahindra & Mahindra Complete Financial Statements

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11 Years of Data
2025 - 2015

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Export complete financial statements for Mahindra & Mahindra (M&M). Downloads include all available records across all periods. For market performance, see the M&M stock price today .

Profitability Ratios

Net Profit Margin 8.43% 2025 data
EBITDA Margin 20.95% 2025 data
Operating Margin 19.00% 2025 data
Return on Assets 1.43% 2025 data
Return on Equity 4.45% 2025 data

Balance Sheet Ratios

Current Ratio 1.29 2025 data
Debt to Equity 3.12 2025 data
Equity Ratio 32.10% 2025 data
Asset Turnover 0.17 2025 data

Year-over-Year Growth Analysis

Comparing Sept 2024 vs Sept 2025
Revenue Growth
+21.2%
Year-over-Year
Net Profit Growth
+17.9%
Year-over-Year
EBITDA Growth
+22.8%
Year-over-Year
Expense Growth
+20.7%
Year-over-Year
Assets Growth
+17.5%
Year-over-Year
Equity Growth
+15.0%
Year-over-Year
Liabilities Growth
+17.5%
Year-over-Year
Operating Cash Flow Growth
+156.4%
Year-over-Year
Investing Cash Flow Growth
-231.5%
Year-over-Year
Financing Cash Flow Growth
+28.9%
Year-over-Year

Income Statement

Periods ₹ Crores
Particulars Sept 2025 Mar 2025 Jun 2025 Sept 2024 Mar 2024 Jun 2024 Dec 2024 Sept 2023 Mar 2023 Jun 2023 Dec 2023 Sept 2022 Mar 2022 Jun 2022 Dec 2022 Sept 2021 Mar 2021 Jun 2021 Dec 2021 Sept 2020 Mar 2020 Jun 2020 Dec 2020 Sept 2019 Mar 2019 Jun 2019 Dec 2019 Sept 2018 Jun 2018 Dec 2018
Revenue 47,030 43,727 46,831 38,815 36,124 37,743 42,184 35,093 33,027 34,475 35,974 31,219 27,070 29,087 31,804 22,196 22,123 19,785 24,409 19,753 16,692 12,491 22,300 24,517 27,428 26,713 20,044 26,496 26,921 26,794
Expenses 37,177 34,688 37,301 30,790 28,848 29,975 33,239 28,706 26,798 27,646 29,075 24,802 21,657 24,016 25,368 16,614 18,378 18,233 19,068 16,492 16,058 9,909 19,249 20,626 23,198 22,606 16,799 21,870 22,109 22,572
EBITDA 9,854 9,038 9,530 8,024 7,276 7,769 8,944 6,387 6,229 6,829 6,899 6,417 5,413 5,071 6,436 5,581 3,746 1,552 5,341 3,260 634 2,582 3,051 3,891 4,230 4,108 3,245 4,626 4,812 4,223
Operating Profit Margin % 19.00% 19.00% 18.00% 18.00% 18.00% 19.00% 20.00% 16.00% 17.00% 17.00% 17.00% 17.00% 16.00% 15.00% 17.00% 23.00% 14.00% 5.00% 19.00% 14.00% 2.00% 17.00% 11.00% 14.00% 15.00% 13.00% 14.00% 14.00% 15.00% 14.00%
Depreciation 1,669 2,029 1,548 1,302 1,335 1,248 1,495 1,139 1,194 1,128 1,123 1,092 935 961 1,110 852 850 802 919 861 834 820 847 1,259 1,087 1,241 852 993 902 1,014
Interest 2,347 2,397 2,431 2,217 1,989 2,108 2,362 1,835 1,634 1,719 1,945 1,382 1,222 1,219 1,596 1,285 1,403 1,300 1,211 1,589 1,561 1,593 1,516 1,526 1,437 1,425 1,526 1,195 1,094 1,295
Profit Before Tax 6,058 4,627 5,644 4,740 4,030 4,621 5,092 3,568 3,492 4,468 3,912 3,943 3,256 2,894 3,732 3,445 1,493 -550 3,211 810 -1,761 168 687 1,106 1,706 1,442 868 2,437 2,815 1,914
Tax 2,094 1,085 1,268 1,379 905 1,075 1,468 1,084 493 784 935 922 648 533 738 954 343 -218 726 662 -7 114 528 737 790 548 697 728 930 405
Net Profit 3,964 3,542 4,377 3,361 3,125 3,546 3,625 2,484 2,998 3,684 2,977 3,021 2,608 2,361 2,994 2,491 1,150 -332 2,485 148 -1,754 55 160 368 915 894 171 1,709 1,885 1,508
Earnings Per Share (₹) 32.90 29.52 36.58 28.43 24.71 29.44 28.51 21.07 23.68 31.50 23.86 24.93 20.13 19.74 24.05 17.35 9.64 3.82 17.89 1.22 -12.04 -0.88 6.35 3.14 6.38 8.25 1.80 14.77 15.71 12.06

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Balance Sheet

Years Annual Data ₹ Crores
Particulars 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
ASSETS
Total Assets 277,586 236,301 205,892 174,113 166,463 167,007 163,392 137,211 114,742 100,632 94,844
Current Assets 126,573 98,266 91,325 75,148 72,138 64,045 69,406 59,076 48,788 43,911 39,750
Fixed Assets 34,636 28,129 27,140 26,019 21,380 29,689 28,983 26,182 20,989 20,585 19,047
Capital Work in Progress 8,298 8,039 3,969 6,703 7,873 6,857 4,760 4,270 4,279 2,371 3,032
Investments 41,309 35,208 35,272 30,060 28,778 19,210 18,268 16,018 14,662 11,603 2,128
Other Assets 193,344 164,924 139,511 111,331 108,433 111,251 111,381 90,742 74,812 66,073 70,637
LIABILITIES
Total Liabilities 277,586 236,301 205,892 174,113 166,463 167,007 163,392 137,211 114,742 100,632 94,844
Current Liabilities 98,166 83,246 68,230 60,999 64,364 65,336 56,438 43,036 38,815 31,576 29,363
Non-Current Liabilities
SHAREHOLDERS' EQUITY
Total Equity 89,098 77,509 67,082 56,825 50,652 47,661 48,344 45,026 36,095 32,413 31,749
Share Capital 558 557 557 556 555 554 544 543 271 270 296
Reserves & Surplus 76,481 65,633 55,809 46,567 41,027 39,415 39,439 36,232 29,467 26,222 25,561

Cash Flow Statement

Periods ₹ Crores
Particulars March 2025 March 2024 March 2023 March 2022 March 2021 March 2020 March 2019 March 2018 March 2017 March 2016 March 2015
Operating Activities 3,176 -5,630 -7,074 9,248 17,909 -1,457 -4,347 682 183 2,385 1,055
Investing Activities -18,616 -5,615 -8,866 -3,252 -19,686 -6,870 -7,174 -5,467 -5,875 -5,506 -4,358
Financing Activities 15,834 12,281 15,946 -5,883 406 6,933 13,194 6,315 6,108 2,967 1,669
Net Cash Flow 394 1,037 6 113 -1,370 -1,394 1,672 1,529 416 -154 -1,633