Mahindra & Mahindra Financial Services Ltd

M&MFIN

Watchlist

AI Mode

‌

Market Cap

₹ 48,461 Cr

P/E

19.64

‌

‌
‌

‌

‌
‌

Investment Checklist

How to read checklist?

Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

Price

PE Ratio

Price

‌

Overview

Detailed Summary

Mahindra & Mahindra Financial Services Limited (MMFSL) is a leading NBFC primarily involved in financing new and pre-owned vehicles, tractors, and construction equipment, as well as offering services in housing finance, personal loans, and insurance broking.

The company reported a substantial growth of 54% YoY in Profit After Tax (PAT) in Q2FY26, reflecting its robust financial health and strong operational performance.

MMFSL's diversification strategy seems effective as its SME segment and fee-based income grew, strengthening its foothold beyond traditional vehicle financing.

It has notably improved asset quality, with Gross Stage 3 down to 3.94% and successful first ARC transaction in rural housing finance, showcasing its effective risk management.

A strategic milestone was acquiring Mahindra Insurance Brokers Limited as a wholly owned subsidiary, enhancing its comprehensive financial services offering.

Sector

Finance

Industry

Finance - Large

Market Cap

48,461 Cr

Volatility

High Risk

P/E Ratio

19.6

Industry P/E

27.6

PEG Ratio

1.2

P/B Ratio

2.0

52W High

386.95

52W Low

235.46

Sales CAGR

16.01%

18.37%

9.67%

10Y

11.84%

Profit CAGR

16.36%

33.36%

20.94%

10Y

14.89%

ROE

TTM

9.96%

10.40%

8.78%

10Y

9.67%

ROCE

TTM

8.32%

8.27%

8.08%

10Y

9.00%

Technicals

‌

Forecasts

Unlock Premium Features

Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Hold

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SUNDARMFIN	4790.65	53,358 Cr	27.06	3.53	0.73	13.03	8.79	2.32
M&MFIN	348.40	48,461 Cr	19.64	1.96	1.66	9.96	8.32	1.66
MANAPPURAM	286.10	24,217 Cr	53.88	1.90	1.40	3.53	7.94	0.82
CREDITACC	1275.80	20,460 Cr	153.13	2.86	0.00	1.87	7.65	0.48
CGCL	182.35	17,540 Cr	24.47	2.63	0.09	10.74	10.39	2.94
FIVESTAR	576.35	16,975 Cr	15.36	2.49	0.35	16.24	14.39	7.16
MASFIN	327.50	5,924 Cr	17.53	2.11	0.52	12.02	10.18	2.60

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	3,583	3,833	4,100	4,280	4,316	4,465	4,797	4,886	4,991	5,026
Expenses	1,504	1,724	1,456	1,520	1,676	1,830	1,325	2,001	1,964	2,015
Interest	1,597	1,703	1,798	1,861	1,960	2,062	2,175	2,218	2,280	2,198
Financing Profit	482	406	846	900	679	573	1,297	667	746	814
Financing Margin %	13.44	10.59	20.63	21.02	15.73	12.84	27.03	13.65	14.96	16.19
Other Income	67	44	50	68	58	28	19	27	43	39
Depreciation	66	67	69	72	76	79	82	85	86	94
Profit Before Tax	483	383	826	896	661	523	1,233	609	704	759
Tax %	24.98	25.06	24.62	25.13	24.86	25.42	25.58	25.15	24.82	25.12
Net Profit	362	287	623	671	497	390	918	456	529	568
EPS in Rs	2.58	2.02	4.48	4.82	3.57	2.79	6.60	3.29	4.06	4.06
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	7,146	7,884	10,372	11,883	12,111	11,318	12,700	15,797	18,463	19,138
Expenses	3,123	2,547	3,129	4,903	6,046	5,347	4,696	6,204	6,832	7,120
Interest	3,186	3,436	4,432	5,391	5,308	4,417	5,094	6,959	8,415	8,735
Financing Profit	837	1,901	2,810	1,589	757	1,553	2,910	2,633	3,216	3,283
Financing Margin %	11.71	24.11	27.09	13.38	6.25	13.72	22.91	16.67	17.42	17.16
Other Income	54	59	106	159	99	128	176	230	133	117
Depreciation	54	55	76	147	151	152	226	275	321	331
Profit Before Tax	838	1,905	2,841	1,602	706	1,529	2,860	2,588	3,027	3,069
Tax %	36.77	36.15	34.27	32.22	21.81	26.10	25.62	24.93	25.31	25.29
Net Profit	530	1,216	1,867	1,086	780	1,150	2,071	1,943	2,261	2,293
EPS in Rs	3.68	7.72	13.18	6.15	5.96	8.17	14.91	13.89	16.25	18.00
Dividend Payout %	26.67	19.64	21.91	0.00	11.46	39.09	35.74	40.26	35.50	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	113	113	123	123	123	246	247	247	247	247
Reserves	6,356	6,847	9,732	11,146	11,846	15,530	16,650	18,313	19,686	21,282
Borrowings	25,559	32,051	44,986	58,802	65,634	65,101	62,126	81,429	98,319	1,19,093
Other Liabilities	12,979	14,211	3,889	4,505	4,189	4,724	4,787	5,096	5,463	3,483
Total Liabilities	45,007	53,223	58,730	74,576	81,793	85,601	83,809	1,05,085	1,23,716	1,44,105
Fixed Assets	129	133	147	201	455	399	515	871	1,008	1,207
CWIP	0.02	1.14	0.46	0.79	0.56	12	2.10	2.64	105	66
Investments	0.00	0.00	2,378	3,327	5,340	12,126	8,654	10,063	9,598	10,590
Other Assets	44,878	53,088	56,205	71,046	75,996	73,064	74,637	94,148	1,13,004	1,32,242
Total Assets	45,007	53,223	58,730	74,576	81,793	85,601	83,809	1,05,085	1,23,716	1,44,105

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-4,957	-6,467	-8,510	-12,078	-3,115	5,826	18	-17,395	-18,449	-15,602
Cash from Investing Activity	-440	-97	243	-1,213	-2,689	-8,348	3,112	-1,635	2,670	-1,077
Cash from Financing Activity	5,431	6,766	8,174	13,490	6,050	2,548	-3,173	18,852	16,095	17,605
Net Cash Flow	34	202	-93	199	245	26	-43	-179	317	927

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	52.25%	52.24%	52.23%	52.23%	52.21%	52.20%	52.20%	52.19%	52.19%	52.18%	52.51%	52.51%
FIIs	16.12%	14.87%	13.94%	14.11%	12.74%	11.97%	10.09%	10.20%	10.49%	10.68%	9.47%	9.60%
DIIs	23.80%	25.22%	26.99%	25.87%	26.99%	28.64%	30.70%	31.59%	31.18%	31.33%	31.96%	32.30%
Public	7.83%	7.68%	6.84%	7.79%	8.07%	7.19%	7.00%	6.02%	6.14%	5.81%	6.06%	5.59%
Total Shareholders	1,93,555	1,86,265	1,85,705	2,19,510	2,39,372	2,27,512	2,24,273	2,11,051	2,24,415	2,17,620	2,27,483	2,22,526

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Nov 28, 2025	R sundar	Insider - Designated Person	Disposal	363.00	0.16 Cr	4,500	—
Nov 27, 2025	Mahesh rajaraman	Insider - Designated Person	Acquisition	349.85	0.25 Cr	7,268	—
Nov 27, 2025	Manish sinha	Insider - Designated Person	Acquisition	349.85	0.36 Cr	10,326	—
Nov 27, 2025	Deepa ranjeet	Insider - Designated Person	Acquisition	349.85	0.23 Cr	6,527	—
Nov 27, 2025	Brijbala mohanlal batwal	Insider - KMP	Acquisition	349.85	0.13 Cr	3,749	—
Nov 27, 2025	Kapil toshniwal	Insider - Designated Person	Acquisition	349.85	0.11 Cr	3,208	—
Nov 27, 2025	Debasish kar	Insider - Designated Person	Acquisition	349.85	0.15 Cr	4,244	—
Nov 27, 2025	Debasish kar	Insider - Designated Person	Disposal	318.75	0.06 Cr	2,000	0.00
Nov 27, 2025	Sandeep mandrekar	Insider - Designated Person	Acquisition	349.85	0.41 Cr	11,750	—
Nov 27, 2025	Mahindra & mahindra financial...	Insider - Other	Disposal	349.85	2.28 Cr	65,128	0.00

Projection

Unlock Premium Features

Get In-depth insights on EPS and Revenue forecasts

Actions

Action Type

‌
‌

Announcements

Last 7 days

Newest

Sentiment

Credit Rating

3 days ago

Credit Ratings Reaffirmed by Mahindra Finance

Mahindra Finance announced reaffirmation of its credit ratings from CRISIL Ratings Limited and India Ratings & Research.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Showing 1 - 8 of 40

AI Mode

Get instant AI-powered insights about company performance, financials, and strategy. Ask questions about trends, competition, and developments while receiving responses backed by official documents and market data, with clear attribution to source documents.

AI Mode

Overview

Detailed Summary

The company reported a substantial growth of 54% YoY in Profit After Tax (PAT) in Q2FY26, reflecting its robust financial health and strong operational performance.

MMFSL's diversification strategy seems effective as its SME segment and fee-based income grew, strengthening its foothold beyond traditional vehicle financing.

It has notably improved asset quality, with Gross Stage 3 down to 3.94% and successful first ARC transaction in rural housing finance, showcasing its effective risk management.

A strategic milestone was acquiring Mahindra Insurance Brokers Limited as a wholly owned subsidiary, enhancing its comprehensive financial services offering.

Sector

Finance

Industry

Finance - Large

Market Cap

48,461 Cr

Volatility

High Risk

P/E Ratio

19.6

Industry P/E

27.6

PEG Ratio

1.2

P/B Ratio

2.0

52W High

386.95

52W Low

235.46

Sales CAGR

16.01%

18.37%

9.67%

10Y

11.84%

Profit CAGR

16.36%

33.36%

20.94%

10Y

14.89%

ROE

TTM

9.96%

10.40%

8.78%

10Y

9.67%

ROCE

TTM

8.32%

8.27%

8.08%

10Y

9.00%