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Consumer Durables

MAHINDRA & MAHINDRA LIMITED

Company Background

Mahindra & Mahindra is a core unit of conglomerate Mahindra Group. A major producer of sport utility vehicles, trucks and farm tractors, the company is active in the domestic and international markets.

The conglomerate was founded in 1945 as a steel trading company. It was established by Jagdish Chandra Mahindra, his brother Kailash Chandra Mahindra, partner Ghulam Mohammed and the city now known as Mumbai. J.C. Mahindra was the grandfather of Anand Mahindra, the current chairman.

After India won independence from Britain in 1947, Mohammed entered politics in Pakistan, leaving the management of the company to the Mahindra brothers. The company then began building four-wheel-drive vehicles and, on the strength of the auto business, gradually expanded its empire.

Anand Mahindra studied at Harvard Business School in the U.S. before going to work for a group company. In 1991, he joined the Mahindra & Mahindra management team. He became president in 1997.

The company scored hits with its SUVs in the 2000s, helping to cement its presence in the passenger car business. In 2010, it took over South Korean automaker Ssangyong Motor. It also acquired domestic startups and became the first Indian company to market electric vehicles.

Mahindra Group is also engaged in the agricultural, financial services and Information Technology services sectors. The founding family and group companies own more than 20% of Mahindra & Mahindra.

Business Summary

Mahindra & Mahindra Ltd. is a holding company, which engages in the manufacturing of automotive vehicles. It operates through the following segments: Automotive, Farm Equipment, and Others. The Automotive segment comprises of sale of automobiles, spare parts, and related services. The Farm Equipment segment involves in the sale of tractor and spare parts. The Others segment includes agri, construction equipment, powerol, and spares business unit. The company was founded by Jagdish Chandra Mahindra, Kailash Chandra Mahindra and Ghulam Mohammed on October 2, 1945 and is headquartered in Mumbai, India.

Financial Highlights

Mar 2019 INRUSD
Revenue1,043.66B14,921.65M
Gross Profit247,601M3,540.05M
Operating income110,070.10M1,573.71M
Income before tax75,043.20M1,072.92M
Net income53,154.60M759.97M
EBITDA149,977.80M2,144.29M
Diluted EPS48.690.69
Dividends Per Share8.500.12
Total Assets1,633.91B23,585.93M
Total liabilities1,150.47B16,607.37M
Total equity399,598.90M5,768.29M
Operating cash flow-42,904.70M-613.42M
Currency in INRCurrency in USD

Historical Data

 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 707,235.90M 754,794.30M 831,506.60M 917,458M 1,043.66B
Gross Profit 155,479.50M 188,995.30M 196,987.10M 236,452M 247,601M
Operating income 54,474.50M 77,717.80M 75,057.80M 98,509.80M 110,070.10M
Income before tax 43,127M 48,260M 54,508.60M 92,182.60M 75,043.20M
Net income 31,374.70M 30,660.60M 36,980.40M 75,103.90M 53,154.60M
EBITDA 75,712.80M 102,134.30M 103,185M 131,308.80M 149,977.80M
Diluted EPS 25.34 28.24 34.13 68.86 48.69
Dividends Per Share 6 6 6.50 7.50 8.50
Total Assets 952,491.60M 1,006.32B 1,147.42B 1,372.10B 1,633.91B
Total liabilities 635,005.50M 682,192.30M 786,472.60M 921,852.50M 1,150.47B
Total equity 258,563.80M 264,691.30M 297,144.70M 367,516.70M 399,598.90M
Operating cash flow 9,346.30M 24,607.70M 4,668.40M 7,308.30M -42,904.70M
 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 11,566.82M 11,528.71M 12,399.98M 14,231.64M 14,921.65M
Gross Profit 2,542.86M 2,886.70M 2,937.60M 3,667.85M 3,540.05M
Operating income 890.92M 1,187.05M 1,119.31M 1,528.08M 1,573.71M
Income before tax 705.34M 737.12M 812.86M 1,429.94M 1,072.92M
Net income 513.13M 468.30M 551.47M 1,165.01M 759.97M
EBITDA 1,238.28M 1,559.99M 1,538.76M 2,036.86M 2,144.29M
Diluted EPS 0.41 0.43 0.50 1.06 0.69
Dividends Per Share 0.09 0.09 0.09 0.11 0.12
Total Assets 15,220.07M 15,196.05M 17,670.30M 21,037.61M 23,585.93M
Total liabilities 10,146.89M 10,301.51M 12,111.69M 14,134.13M 16,607.37M
Total equity 4,131.64M 3,996.99M 4,576.03M 5,634.88M 5,768.29M
Operating cash flow 152.85M 375.85M 69.61M 113.36M -613.42M

Valuation Measures

Mar 2019
PER13.73
ROA3.53%
ROE13.85%
Operating margin10.54%
Profit margin5.09%

Key executives

  • Managing Director & Executive Director: Pawan Kumar Goenka
  • Group Chief Financial & Information Officer: Vankipuram Srinivasa Parthasarathy
  • Secretary, Compliance Officer & Executive VP: Narayan Shankar
  • President-Group Mergers & Acquisitions: Subramaniam Durgashankar
  • President-Agri Business: Ashok Sharma

Shareholders

  • Prudential Management & Services Pvt Ltd. (11.3%)
  • Life Insurance Corp. of India (10.7%)
  • Mahindra & Mahindra Benefit Trust (6.7%)
  • Colonial First State Asset Management (Australia) Ltd. (3.6%)
  • SBI Funds Management Pvt Ltd. (2.3%)
  • The Caisse de depot et placement du Quebec (1.8%)
  • The Vanguard Group, Inc. (1.6%)
  • BlackRock Fund Advisors (1.6%)
  • GIC Pte Ltd. (Investment Management) (1.4%)
  • ICICI Prudential Asset Management Co. Ltd. (1.3%)

Contact Details

  • Website:http://www.mahindra.com
  • Address: Mahindra Towers, Dr. G. M. Bhosale Marg, Mumbai, 400018, India
  • Phone: +91.22.24975074

Related Companies

  • Mahindra & Mahindra Ltd. Staff Provident Fund
  • Mahindra Waste To Energy Solutions Ltd.
  • Hindustan Tractors Ltd.
  • Mahindra Automotive Mauritius Ltd.
  • Mahindra Automotive Australia Pty Ltd.
  • Astra Solren Pvt Ltd.
  • Neo Solren Pvt Ltd.
  • Brightsolar Renewable Energy Pvt Ltd.
  • Mahindra MSTC Recycling Pvt Ltd.
  • Divine Solren Pvt Ltd.
  • Koncept Automobiles Pvt Ltd.
  • Erkunt Traktor Sanayii AS
  • Classic Legends Pvt Ltd.
  • Mahindra Agri Solutions Ltd.
  • Mahindra Two Wheelers Europe Holdings S.a.r.l.
  • Mahindra Trucks & Buses Ltd.
  • Mahindra Investments International Pvt. Ltd.
  • Mahindra Heavy Engines Pvt. Ltd.
  • Mahindra Defence Naval Systems Pvt Ltd.
  • Mahindra Tractor Assembly, Inc.
  • Mahindra Electoral Trust Co.
  • Mahindra Reva Electric Vehicles Ltd.
  • Mahindra Defence Systems Ltd.
  • Mahindra Racing
  • Mahindra Intratrade Ltd.
  • Navistar International Corp. /Joint Ventures (2)/
  • Mahindra Vehicle Manufacturers Ltd.
  • National Electric Vehicle Sweden AB
  • Mahindra Partners
  • Crest Geartech Pvt Ltd.

Competitors

  • KIA Motors Corporation
  • Deere & Company
Last Updated on 19 Sep, 2019

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