- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹38,494 Cr203rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 21 Oct 2026
- 10.7
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 21 Oct 2026
- 1.4
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 2.71%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 21 Oct 2026
- 13.8%
- NIMNet interest margin. Net interest income ÷ the average assets that earn interest × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026.
- 6.76%
- Cost of fundsCost of funds. Interest paid ÷ the average of what the company pays interest on × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026.
- 7.22%
- Credit costCredit cost. What was set aside for loans that may not be repaid ÷ average loans given × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026.
- 1.89%
- ROAReturn on assets. Profit after tax ÷ average total assets × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. It equals net interest income + other income − operating expenses − provisions + exceptional items − tax + the lines below tax, each on the same base. For the year to Mar 2026.
- 1.89%
- LeverageAssets per rupee of net worth. Average total assets ÷ average net worth: rupees of assets for each rupee of net worth; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026.
- 6.27times net worth
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 28,79,07552.4% delivered
Results
Consolidated; ₹ crore, the charts by years to March, the table by quarter. The year to Mar 2021 is not shown: its results were filed at the wrong scale, a power of ten off the company's own year-to-date figures. Income from operations is what the business earns: interest on loans, fees, dividends and the rest.Quarterly results
Quarter to Sep 2026, against the quarter beforeFiled 21 Oct
- Income from operationsIncome from operations. The pill is the change in income from operations against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹5,936 Crup 3.81%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹911 Crdown 1.81%
Income from operations by year
Net profit by year, a loss in red
| ₹ crore | Dec 2024Filed 31 Jan | Mar 2025Filed 9 May | Jun 2025Filed 23 Jul | Sep 2025Filed 28 Oct | Dec 2025Filed 28 Jan | Mar 2026Filed 24 Apr | Jun 2026Filed 21 Jul | Sep 2026Filed 21 Oct |
|---|---|---|---|---|---|---|---|---|
| Income from operations | 4,797 | 4,886 | 4,991 | 5,026 | 5,450 | 5,539 | 5,718 | 5,936 |
| Net profit | 918 | 456 | 529 | 566 | 826 | 940 | 927 | 911 |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Financing activitiesFinancing activities, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹19,775 Crup 15.36%92.8%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1,524 Crup 5.05%7.2%
Valuation
Today, against the company's own history. Not shown, EV/EBITDA: not used for a lender or an insurer.PE ratio and valuation history
At or below today's level on 5% of 2,188 trading days over the last 10 years.
At or below today's level on 14% of 1,124 trading days over the last 5 years.
At or below today's level on 97% of 2,396 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +3.7% | +14.0% | −11.3% | 2.6% |
| 3 years | +9.7% | +7.5% | −0.2% | 2.4% |
| 5 years | +9.9% | – | – | 2.4% |
Mutual funds holding it
133 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 62 of the 84 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 2 more funds filed their first portfolio on record, holding it.Mutual fund holdings
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 1
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 2
- AddedAdded. Funds that held more shares than at the end of the month before.
- 44
- CutCut. Funds that held fewer shares than at the end of the month before.
- 40
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 44
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end.
- 2
| Fund | |||
|---|---|---|---|
 HDFC Mid Cap FundHDFC Mutual Fund | 6,61,18,170 | 2.11% | ₹2,147.8 Cr |
 SBI Contra FundSBI Mutual Fund | 2,70,07,230 | 1.95% | ₹877.3 Cr |
| SBI Balanced Advantage FundSBI Mutual Fund | 1,30,45,930 | 1.05% | ₹423.8 Cr |
 Sundaram Mid Cap FundSundaram Mutual Fund | 1,17,00,000 | 2.74% | ₹380.1 Cr |
 Nippon India Growth Mid Cap FundNippon India Mutual Fund | 1,04,99,100 | 0.68% | ₹341.1 Cr |
 HSBC Midcap FundHSBC Mutual Fund | 1,04,76,724 | 2.03% | ₹340.3 Cr |
| HDFC Large & Mid Cap FundHDFC Mutual Fund | 98,29,103 | 1.12% | ₹319.3 Cr |
| SBI Multi Asset Allocation FundSBI Mutual Fund | 92,32,926 | 1.43% | ₹299.9 Cr |
| SBI Midcap FundSBI Mutual Fund | 78,35,876 | 1.09% | ₹254.5 Cr |
 Bandhan Value FundBandhan Mutual Fund | 55,00,000 | 1.88% | ₹178.7 Cr |
Peers and competitors
Non Banking Financial Company (NBFC), 281 listed companies, priced on 23 Oct 2026. The table lists the 8 companies closest to Mahindra & Mahindra Financial Services in market cap.
Where the company sits among the companies nearest its size
| Company | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
 Piramal FinancePIRAMALFIN | 44,354 | 23.4 | 1.4 | – | – | – | 6.5% | – | – | – | 0.59% |
 Sundaram FinanceSUNDARMFIN | 44,233 | 19.9 | 3.0 | – | +13.7% | +15.6% | 15.8% | – | 2.56% | 4.60% | 1.00% |
 Authum Investment & InfrastructureAIIL | 42,185 | 20.1 | 2.9 | 18.4 | −34.5% | −48.8% | 14.2% | 13.3% | – | – | 0.00% |
 HDB Financial ServicesHDBFS | 41,943 | 14.2 | 1.9 | – | – | – | 14.3% | – | – | – | 0.79% |
 Poonawalla FincorpPOONAWALLA | 36,369 | 33.4 | 2.6 | – | +75.1% | +399.2% | 9.2% | – | 1.14% | 7.30% | 0.00% |
 Manappuram FinanceMANAPPURAM | 26,874 | 18.5 | 1.7 | – | +4.8% | +81.2% | 10.2% | – | 1.60% | 10.13% | 0.87% |
 IIFL FinanceIIFL | 22,691 | 9.1 | 1.5 | – | +35.4% | +190.5% | 17.6% | – | 2.32% | 8.82% | 0.75% |
 Capri Global CapitalCGCL | 22,691 | 20.1 | 3.2 | – | +50.1% | +95.2% | 19.6% | – | 3.55% | 8.36% | 0.08% |
Dividends
Per share, by the year it was paid for, and the latest payments.Dividend history and dates
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up.| Ex-date | Type | Per share |
|---|---|---|
| 13 Jul 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹7.50 |
| 15 Jul 2025 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹6.50 |
| 16 Jul 2024 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹6.30 |
| 21 Jul 2023 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹6.00 |
| 20 Jul 2022 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹3.60 |
| 16 Jul 2021 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹0.80 |
Latest announcements
Routine notices left out.Share news and announcements
Oct 2026
21 Oct · Analysts
13 Oct · Analysts
8 Oct · Rating
2 Oct · General Updates
Mahindra & Mahindra Financial Services share price by year
Each calendar year to 2025.Mahindra & Mahindra Financial Services share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 403.00 | +52.1% | 404.40 | 244.25 |
| 2024 | 264.95 | −4.2% | 340.50 | 250.55 |
| 2023 | 276.70 | +17.9% | 343.75 | 218.15 |
| 2022 | 234.60 | +57.5% | 241.15 | 130.60 |
| 2021 | 148.95 | −14.8% | 220.75 | 139.40 |
| 2020 | 174.90 | −45.8% | 398.05 | 113.45 |
| 2019 | 322.45 | −31.9% | 471.80 | 293.25 |
| 2018 | 473.65 | +0.1% | 528.15 | 356.25 |
| 2017 | 473.10 | +75.1% | 479.20 | 267.10 |
| 2016 | 270.25 | +11.6% | 385.60 | 191.60 |
Recent sessions
The last 10 trading days to 23 Oct 2026, as traded on NSE.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 23 Oct 2026 | 288.00 | 289.60 | 271.80 | 276.90 | 277.09 | 28,79,075 | 52.4% |
| 22 Oct 2026 | 289.90 | 290.00 | 268.25 | 287.60 | 280.69 | 1,31,71,893 | 29.8% |
| 21 Oct 2026 | 306.50 | 307.95 | 295.30 | 297.45 | 298.45 | 25,16,245 | 57.4% |
| 19 Oct 2026 | 313.80 | 315.25 | 302.00 | 304.90 | 307.15 | 23,32,226 | 60.4% |
| 16 Oct 2026 | 317.80 | 317.80 | 309.75 | 311.55 | 312.62 | 14,44,372 | 57.1% |
| 15 Oct 2026 | 321.80 | 321.80 | 315.05 | 316.15 | 317.77 | 10,61,098 | 58.9% |
| 14 Oct 2026 | 325.50 | 326.25 | 317.75 | 319.45 | 320.78 | 10,02,203 | 56.2% |
| 13 Oct 2026 | 324.00 | 328.60 | 321.00 | 325.75 | 324.99 | 18,64,834 | 60.0% |
| 12 Oct 2026 | 319.50 | 325.70 | 313.55 | 322.40 | 322.41 | 9,33,698 | 43.9% |
| 9 Oct 2026 | 312.00 | 320.85 | 309.75 | 319.45 | 317.81 | 14,54,193 | 51.4% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 14 May 2025 | Rights issue | – | Shareholders were offered new shares. Noted, not adjusted for. |
| 22 Jul 2020 | Rights issue | – | Shareholders were offered new shares. Noted, not adjusted for. |
| 22 Jul 2020 | Price move | – | A corporate action went ex within three days of this move (Rights 1:1 @ Premium Rs 48/-, ex-date 22 Jul 2020), and its terms do not account for the move. Not adjusted for. |
| 23 Mar 2020 | Price move | – | Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for. |
| 15 Feb 2013 | Split | 0.2000 | Each share became 5. |
About Mahindra & Mahindra Financial Services
Mahindra & Mahindra Financial Services Limited is a non-banking financial company, a lender that is not a bank. Its registered office is in Mumbai, and its corporate office is in Worli, Mumbai. It is primarily engaged in vehicle financing, and it was incorporated in 1991.
Vehicle finance is the core of the business. It covers passenger vehicles, used vehicles, commercial vehicles, tractors, three-wheelers and construction equipment, including vehicles of other automobile manufacturers. Its customers include fleet operators, farmers, businesses, self-employed people and salaried individuals. The company also offers small business finance, with loans against property, equipment finance, working capital finance and supply chain finance. It also offers fixed deposits and distributes insurance.
The company operates through 1,348 offices and branches across 27 States and 7 Union Territories in India, with deep roots in rural and semi-urban markets.
It works through subsidiaries and a joint venture. Mahindra Rural Housing Finance Limited provides housing finance through a network of 500+ branch locations. Mahindra Insurance Brokers Limited provides insurance broking, and a joint venture with Manulife runs a mutual fund business, Mahindra Manulife.
The company belongs to the Mahindra Group, which was founded in 1945 and operates in over 100 countries, with a presence across automotive, farm equipment and financial services, among other businesses. Mahindra & Mahindra Limited is the company's promoter and holding company. A promoter is the person or group that set up a company or controls it.
- Legal name
- Mahindra & Mahindra Financial Services Limited
- NSE symbol
- M&MFIN
- BSE code
- 532720
- ISIN
- INE774D01024
- Industry
- Finance
- Listed
- Mar 2006
- Face value
- ₹2
- CIN
- L65921MH1991PLC059642
- Corporate identity number, the registrar of companies' code for it