Mahindra & Mahindra Financial Services Ltd. (IN:M&MFIN)
:M&MFIN
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Mahindra & Mahindra Financial Services Ltd.
(M&MFIN)
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Rating:53Neutral
Price Target:
₹307.00
▲(2.42% Upside)
Action:ReiteratedDate:03/29/26
The score is held back mainly by weak and inconsistent cash-flow generation alongside volatile revenue and thin profitability, partially offset by an attractive valuation (low P/E and strong dividend yield). Technical signals are neutral due to missing indicator data.
Positive Factors
Franchise & Distribution
M&MFIN’s specialization in rural and semi-urban vehicle/equipment lending, tied to the Mahindra Group ecosystem, provides durable origination and distribution advantages. Captive dealer channels and brand affinity support steady loan flows, lower acquisition costs, and scalable cross-sell over time.
Negative Factors
Weak Cash Conversion
Multi-year negative operating and free cash flow shows earnings have not reliably converted to cash. This forces greater reliance on external borrowings, heightens funding-cost sensitivity, limits organic funding for loan growth, and increases vulnerability to funding-market dislocations over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Franchise & Distribution
M&MFIN’s specialization in rural and semi-urban vehicle/equipment lending, tied to the Mahindra Group ecosystem, provides durable origination and distribution advantages. Captive dealer channels and brand affinity support steady loan flows, lower acquisition costs, and scalable cross-sell over time.
Read all positive factors
Mahindra & Mahindra Financial Services Ltd. (M&MFIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹444.62B
Dividend Yield2.83%
Average Volume (3M)118.99K
Price to Earnings (P/E)8.4
Beta (1Y)1.50
Revenue Growth13.79%
EPS Growth16.72%
CountryIN
Employees26,662
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)6.29
Shares Outstanding1,389,971,200
10 Day Avg. Volume127,276
30 Day Avg. Volume118,992
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.18
Price to Sales (P/S)0.03
P/FCF Ratio4.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹369.50Price Target Upside23.27% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)24.6
Revenue Forecast (FY)₹115.00B
Mahindra & Mahindra Financial Services Ltd. Business Overview & Revenue Model
Company Description
Mahindra & Mahindra Financial Services Limited, a non-banking financial company, provides asset finance in the rural and semi-urban areas in India. The company offers vehicle financing for auto and utility vehicles, tractors, cars, commercial vehi...
How the Company Makes Money
M&MFIN primarily makes money through a lending-led NBFC model. Its core revenue stream is interest income earned on loans and advances provided to customers, including vehicle and equipment finance (notably in rural-focused segments such as tracto...
Mahindra & Mahindra Financial Services Ltd. Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
52
Neutral
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 197.69B | 90.70B | 81.37B | 124.99B | 112.34B |
| Gross Profit | 8.27B | 90.70B | 81.43B | 73.94B | 68.24B |
| EBITDA | 42.12B | 909.00M | 0.00 | 30.30B | 17.01B |
| Net Income | 1.06B | 22.62B | 19.33B | 20.72B | 11.37B |
Balance Sheet | |||||
| Total Assets | 16.24B | 1.44T | 1.24T | 1.05T | 838.09B |
| Cash, Cash Equivalents and Short-Term Investments | 1.25B | 1.31B | 39.32B | 40.67B | 44.52B |
| Total Debt | 5.20B | 800.21B | 643.30B | 481.02B | 361.12B |
| Total Liabilities | 11.38B | 1.23T | 1.04T | 863.83B | 667.71B |
| Stockholders Equity | 4.86B | 215.29B | 199.33B | 185.60B | 168.96B |
Cash Flow | |||||
| Free Cash Flow | 1.06B | -160.44B | -187.72B | -178.09B | -2.83B |
| Operating Cash Flow | 1.43B | -156.02B | -184.49B | -173.95B | 180.60M |
| Investing Cash Flow | -639.00M | -10.77B | 26.70B | -16.35B | 31.11B |
| Financing Cash Flow | -852.00M | 176.05B | 160.95B | 188.52B | -31.73B |
Mahindra & Mahindra Financial Services Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹1.32T | 27.83 | ― | 0.12% | 22.83% | 18.94% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | ₹513.77B | 26.89 | ― | 0.71% | 13.88% | 29.05% | |
61 Neutral | ₹714.72B | 20.15 | ― | 0.91% | 10.78% | 12.41% | |
61 Neutral | ₹2.25T | 16.37 | ― | 1.08% | 11.01% | 4.86% | |
53 Neutral | ₹444.62B | 8.44 | ― | 2.83% | 13.79% | 16.72% | |
49 Neutral | ₹371.07B | 64.91 | ― | ― | 43.91% | 97.85% |
* Financial Sector Average
IN:M&MFIN
Mahindra & Mahindra Financial Services Ltd.
311.05
62.27
25.03%
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IN:POONAWALLA
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IN:SHRIRAMFIN
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IN:SUNDARMFIN
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.