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Last Updated on: 19 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Mahindra & Mahindra Ltd

About the Company - Mahindra & Mahindra Ltd

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Basic Stock Data of Mahindra & Mahindra Ltd

Last Updated: June 19, 2024, 2:34 pm

Market Cap 3,66,717 Cr.
Current Price 2,949
High / Low3,014/1,368
Stock P/E32.4
Book Value 532
Dividend Yield0.71 %
ROCE13.7 %
ROE18.4 %
Face Value 5.00
PEG Ratio0.22

Competitors of Mahindra & Mahindra Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Maruti Suzuki India Ltd 4,03,856 Cr. 12,84513,074/9,25429.9 2,7240.70 %23.7 %18.3 % 5.00
Industry Average403,856.00 Cr12,845.0029.902,724.000.70%23.70%18.30%5.00

Mahindra & Mahindra Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales19,22721,62621,45619,17221,47023,59425,93428,41429,87030,62032,45633,89234,436
Expenses15,72219,10318,05718,18416,57819,06821,65724,01624,80225,36826,79827,64228,706
Operating Profit3,5052,5233,3999874,8924,5264,2784,3995,0685,2535,6586,2495,730
OPM %18%12%16%5%23%19%16%15%17%17%17%18%17%
Other Income-2445283475656908151,1356751,3481,1856621,065812
Interest1,5891,5161,4031,3001,2851,2111,2221,2191,3821,5961,6341,7191,835
Depreciation8618478508028529199359601,0921,1101,1941,1281,139
Profit before tax8106871,493-5503,4453,2113,2562,8943,9433,7323,4924,4683,568
Tax %82%77%23%40%28%23%20%18%23%20%14%18%30%
Net Profit1481601,150-3322,4912,4852,6082,3613,0212,9942,9983,6842,484
EPS in Rs1.095.670.643.4115.5115.9918.0017.6622.3021.5321.2028.2118.88

Mahindra & Mahindra Ltd Quarterly Chart

Mahindra & Mahindra Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales59,39968,69374,00171,44875,84183,77392,094104,72175,38274,27890,171121,269136,082
Expenses52,14059,57863,83062,65565,75973,03878,86889,51465,22462,79175,488100,983112,222
Operating Profit7,2599,11610,1708,79310,08210,73513,22615,20710,15811,48714,68320,28523,861
OPM %12%13%14%12%13%13%14%15%13%15%16%17%18%
Other Income5268417738001,3992,0774,3662,6768851,1523,2043,9613,294
Interest1,8002,2972,9543,1573,3683,6483,9875,0216,0216,1025,0185,8307,132
Depreciation1,8022,0802,1702,1242,4422,8133,2803,9913,3673,3783,5084,3574,583
Profit before tax4,1845,5805,8204,3135,6726,35010,3268,8711,6553,1589,36214,06015,439
Tax %34%35%26%40%37%36%23%32%119%52%23%19%
Net Profit3,0604,1295,1543,3813,5544,0517,9586,017-3211,5127,25311,37412,143
EPS in Rs25.4633.3837.8925.2625.3529.7760.4142.761.0214.5852.9182.6889.67
Dividend Payout %24%19%18%23%21%22%11%17%205%54%20%18%

Mahindra & Mahindra Ltd Profit & Loss Yearly Chart

Mahindra & Mahindra Ltd Growth

Compounded Sales Growth
10 Years:7%
5 Years:6%
3 Years:23%
TTM:15%
Compounded Profit Growth
10 Years:10%
5 Years:17%
3 Years:80%
TTM:20%
Stock Price CAGR
10 Years:18%
5 Years:37%
3 Years:56%
1 Year:112%
Return on Equity
10 Years:13%
5 Years:12%
3 Years:17%
Last Year:18%

Last Updated: June 15, 2024, 4:30 pm

Mahindra & Mahindra Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital295295295296270311543544554555556557557
Reserves16,40919,66623,01225,56126,22229,46736,23239,43939,41541,02746,56755,80959,929
Borrowings23,12128,71135,16737,91141,55348,76255,89870,84882,09280,62577,60592,24799,712
Other Liabilities23,62327,46029,41530,60831,80635,29643,69651,05743,65542,76247,66155,67060,575
Total Liabilities63,44876,13187,88994,37699,852113,835136,369161,889165,716164,968172,388204,283220,773
Fixed Assets17,19818,30718,38119,04720,58520,98926,18228,98329,68921,38026,01827,14030,544
CWIP1,4881,6312,1913,0322,3714,2794,2694,7606,8567,8736,7033,9692,014
Investments5,3476,4408,08210,02711,60314,66216,01818,26819,21028,77830,06035,27233,964
Other Assets39,41449,75259,23462,27065,29373,90589,900109,878109,960106,938109,607137,902154,250
Total Assets63,44876,13187,88994,37699,852113,835136,369161,889165,716164,968172,388204,283220,773

Mahindra & Mahindra Ltd Reserves and Borrowings Chart

Mahindra & Mahindra Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 61-922-2441,0552,385183682-4,347-1,45717,9099,248-7,074
Cash from Investing Activity -2,968-2,903-4,524-4,357-5,506-5,875-5,467-7,174-6,870-19,686-3,252-8,866
Cash from Financing Activity 4,2564,5085,5771,6692,9676,1086,31413,1946,933406-5,88315,946
Net Cash Flow1,349684810-1,633-1544161,5291,672-1,394-1,3701136

Mahindra & Mahindra Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days332828282831343034302621
Inventory Days7473687274646474106918283
Days Payable1031049697108107125127142147134118
Cash Conversion Cycle3-303-6-11-27-23-3-26-27-13
Working Capital Days282530313142372329159589
ROCE %15%15%14%11%13%12%13%12%7%8%11%13%

Mahindra & Mahindra Ltd Financial Efficiency Indicators Chart

Mahindra & Mahindra Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters19.44%19.45%19.46%19.46%19.47%19.47%19.45%19.38%19.39%19.37%19.37%19.33%
FIIs37.90%38.93%40.05%38.92%38.66%37.30%37.94%38.27%39.16%39.24%40.14%40.26%
DIIs28.24%27.35%26.12%27.08%27.81%28.78%28.93%28.50%27.72%27.66%26.89%26.79%
Government0.24%0.24%0.07%0.07%0.07%0.07%0.07%0.07%0.07%0.07%0.07%0.07%
Public10.02%9.91%10.20%10.40%9.95%10.40%9.66%9.83%9.77%9.81%9.71%9.73%
Others4.15%4.12%4.10%4.07%4.03%3.97%3.95%3.92%3.88%3.85%3.83%3.80%
No. of Shareholders4,10,3464,44,7505,31,3695,81,7795,68,6036,32,8165,81,2886,49,3416,36,9566,47,1416,36,9846,75,621

Mahindra & Mahindra Ltd Shareholding Pattern Chart

No. of Mahindra & Mahindra Ltd Shareholders

Mahindra & Mahindra Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Nifty 50 ETF16,610,0101.672736.914,662,0032024-06-18256.28%
SBI S&P BSE Sensex ETF12,524,6842.062063.574,662,0032024-06-18168.65%
HDFC Flexi Cap Fund - Regular Plan9,078,6673.361324.214,662,0032024-06-1894.74%
SBI Blue Chip Fund5,500,0002.22906.264,662,0032024-06-1817.98%
Axis Bluechip Fund5,454,5212.82898.774,662,0032024-06-1817%
Axis ELSS Tax Saver Fund4,662,0032.32768.184,662,0032024-06-180%
Aditya Birla Sun Life Frontline Equity Fund3,735,5562.53615.534,662,0032024-06-18-19.87%
SBI Long Term Equity Fund3,415,0833.26562.724,662,0032024-06-18-26.75%
ICICI Prudential Balanced Advantage Fund3,433,5921500.824,662,0032024-06-18-26.35%
HDFC Balanced Advantage Fund - Regular Plan3,319,3290.76484.164,662,0032024-06-18-28.8%

Mahindra & Mahindra Ltd ROCE Trend

Mahindra & Mahindra Ltd EPS Trend

Mahindra & Mahindra Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue5.005.005.005.005.00
Basic EPS (Rs.)100.0192.4159.2016.33-1.15
Diluted EPS (Rs.)101.0991.9658.8316.15-1.04
Cash EPS (Rs.)142.38127.7480.0732.5518.21
Book Value[Excl.RevalReserv]/Share (Rs.)695.30602.37510.96456.20429.94
Book Value[Incl.RevalReserv]/Share (Rs.)695.30602.37510.96456.20429.94
Revenue From Operations / Share (Rs.)1247.611088.94810.80668.99680.00
PBDIT / Share (Rs.)242.82192.99140.43132.48128.28
PBIT / Share (Rs.)200.44153.86108.89102.0697.91
PBT / Share (Rs.)133.27112.7467.4936.6733.03
Net Profit / Share (Rs.)100.0188.6248.532.12-12.16
NP After MI And SOA / Share (Rs.)101.0992.3259.1416.321.15
PBDIT Margin (%)19.4617.7217.3119.8018.86
PBIT Margin (%)16.0614.1213.4215.2514.39
PBT Margin (%)10.6810.358.325.484.85
Net Profit Margin (%)8.018.135.980.31-1.78
NP After MI And SOA Margin (%)8.108.477.292.440.16
Return on Networth / Equity (%)17.0218.2413.954.350.31
Return on Capital Employeed (%)13.8912.6610.279.859.60
Return On Assets (%)4.764.993.771.080.07
Long Term Debt / Equity (X)1.020.971.031.321.31
Total Debt / Equity (X)1.561.571.581.431.56
Asset Turnover Ratio (%)0.620.670.490.390.42
Current Ratio (X)1.301.291.341.401.19
Quick Ratio (X)1.051.061.131.220.98
Inventory Turnover Ratio (X)4.396.085.233.322.93
Dividend Payout Ratio (NP) (%)0.0012.4914.8814.46893.49
Dividend Payout Ratio (CP) (%)0.008.779.705.0532.48
Earning Retention Ratio (%)0.0087.5185.1285.54-793.49
Cash Earning Retention Ratio (%)0.0091.2390.3094.9567.52
Interest Coverage Ratio (X)3.613.693.112.412.36
Interest Coverage Ratio (Post Tax) (X)2.492.481.991.591.47
Enterprise Value (Cr.)316693.68217230.66162866.82144051.4293890.38
EV / Net Operating Revenue (X)2.281.791.811.941.25
EV / EBITDA (X)11.7010.1110.439.796.60
MarketCap / Net Operating Revenue (X)1.541.060.991.190.41
Retention Ratios (%)0.0087.5085.1185.53-793.49
Price / BV (X)3.242.291.902.120.79
Price / Net Operating Revenue (X)1.541.060.991.190.41
EarningsYield0.050.070.070.020.00

Mahindra & Mahindra Ltd Profitability Ratios (%)

Mahindra & Mahindra Ltd Liquidity Ratios

Mahindra & Mahindra Ltd Liquidity Ratios (%)

Mahindra & Mahindra Ltd Interest Coverage Ratios (%)

Mahindra & Mahindra Ltd Valuation Ratios

Fair Value

Fair Value: 3,194.09

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 8.31% compared to the current price 2949

Intrinsic Value: 7,819.09

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 165.14% compared to the current price ₹2949

Last 5 Year EPS CAGR: 144.80%

*Investments are subject to market risks

Strength and Weakness of Mahindra & Mahindra Ltd Stock

StrengthWeakness
  1. The stock has a low average Cash Conversion Cycle of -11.08, which is a positive sign.
  2. The company has shown consistent growth in sales (86.31 cr) and profit (6.85 cr) over the years.
  1. The stock has a low average ROCE of 12.00%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 39.58, which may not be favorable.
  3. The company has higher borrowings (59,557.85) compared to reserves (35,288.85), which may suggest financial risk.

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FAQ

What is the latest fair value of Mahindra & Mahindra Ltd?

The latest fair value of Mahindra & Mahindra Ltd is ₹3194.09.

What is the Market Cap of Mahindra & Mahindra Ltd?

The Market Cap of Mahindra & Mahindra Ltd is 3,66,717 Cr..

What is the current Stock Price of Mahindra & Mahindra Ltd as on 19 June 2024?

The current stock price of Mahindra & Mahindra Ltd as on 19 June 2024 is ₹2,949.

What is the High / Low of Mahindra & Mahindra Ltd stocks in FY 2024?

In FY 2024, the High / Low of Mahindra & Mahindra Ltd stocks is 3,014/1,368.

What is the Stock P/E of Mahindra & Mahindra Ltd?

The Stock P/E of Mahindra & Mahindra Ltd is 32.4.

What is the Book Value of Mahindra & Mahindra Ltd?

The Book Value of Mahindra & Mahindra Ltd is 532.

What is the Dividend Yield of Mahindra & Mahindra Ltd?

The Dividend Yield of Mahindra & Mahindra Ltd is 0.71 %.

What is the ROCE of Mahindra & Mahindra Ltd?

The ROCE of Mahindra & Mahindra Ltd is 13.7 %.

What is the ROE of Mahindra & Mahindra Ltd?

The ROE of Mahindra & Mahindra Ltd is 18.4 %.

What is the Face Value of Mahindra & Mahindra Ltd?

The Face Value of Mahindra & Mahindra Ltd is 5.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Mahindra & Mahindra Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE