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Consumer Durables

Mahindra & Mahindra Ltd.

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 2020 INRUSD
Revenue949,261.90M13,387.61M
Gross Profit219,892M3,101.17M
Operating income77,560.30M1,093.84M
Income before tax6,120.30M86.31M
Net income1,270.40M17.91M
EBITDA127,323.20M1,795.66M
Diluted EPS1.030.01
Dividends Per Share2.350.03
Total Assets1,670.06B22,075.86M
Total liabilities1,193.45B15,775.76M
Total equity399,693.10M5,283.36M
Operating cash flow-11,161.40M-157.41M
Currency in INRCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 754,794.30M 831,506.60M 917,458M 1,043.66B 949,261.90M
Gross Profit 188,995.30M 196,987.10M 236,452M 247,601M 219,892M
Operating income 77,717.80M 75,057.80M 98,509.80M 110,070.10M 77,560.30M
Income before tax 48,260M 54,508.60M 92,182.60M 75,043.20M 6,120.30M
Net income 30,660.60M 36,980.40M 75,103.90M 53,154.60M 1,270.40M
EBITDA 102,134.30M 103,185M 131,308.80M 149,977.80M 127,323.20M
Diluted EPS 28.24 34.13 68.86 48.69 1.03
Dividends Per Share 6 6.50 7.50 8.50 2.35
Total Assets 1,006.32B 1,147.42B 1,372.10B 1,633.91B 1,670.06B
Total liabilities 682,192.30M 786,472.60M 921,852.50M 1,150.47B 1,193.45B
Total equity 264,691.30M 297,144.70M 367,516.70M 399,598.90M 399,693.10M
Operating cash flow 24,607.70M 4,668.40M 7,308.30M -42,904.70M -11,161.40M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 11,528.71M 12,399.98M 14,231.64M 14,921.65M 13,387.61M
Gross Profit 2,886.70M 2,937.60M 3,667.85M 3,540.05M 3,101.17M
Operating income 1,187.05M 1,119.31M 1,528.08M 1,573.71M 1,093.84M
Income before tax 737.12M 812.86M 1,429.94M 1,072.92M 86.31M
Net income 468.30M 551.47M 1,165.01M 759.97M 17.91M
EBITDA 1,559.99M 1,538.76M 2,036.86M 2,144.29M 1,795.66M
Diluted EPS 0.43 0.50 1.06 0.69 0.01
Dividends Per Share 0.09 0.09 0.11 0.12 0.03
Total Assets 15,196.05M 17,670.30M 21,037.61M 23,585.93M 22,075.86M
Total liabilities 10,301.51M 12,111.69M 14,134.13M 16,607.37M 15,775.76M
Total equity 3,996.99M 4,576.03M 5,634.88M 5,768.29M 5,283.36M
Operating cash flow 375.85M 69.61M 113.36M -613.42M -157.41M

Valuation Measures

Mar 2020
PER247.78
ROA0.07%
ROE0.31%
Operating margin8.17%
Profit margin0.13%

Key executives

  • Chief Executive Officer, Executive Director & MD: Pawan Kumar Goenka
  • Deputy MD, Chief Financial Officer & Director: Anish Dilip Shah
  • Chief Technology Officer & Executive VP: Mohit Kapoor
  • Secretary, Compliance Officer & Executive VP: Narayan Shankar
  • President-Group Mergers & Acquisitions: Subramaniam Durgashankar

Shareholders

  • Prudential Management & Services Pvt Ltd. (11.3%)
  • Life Insurance Corp of India (10.2%)
  • Mahindra & Mahindra Benefit Trust (6.7%)
  • First Sentier Investors (Australia) IM Ltd. (4.1%)
  • SBI Funds Management Pvt Ltd. (2.8%)
  • ICICI Prudential Asset Management Co. Ltd. (2.4%)
  • The Caisse de depot et placement du Quebec (1.8%)
  • The Vanguard Group, Inc. (1.8%)
  • RBC Global Asset Management (UK) Ltd. (1.6%)
  • Norges Bank Investment Management (1.4%)

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 Bangladesh Pvt Ltd.
  • Mahindra Telecom Energy Management Services Ltd.
  • Mahindra do Brasil Industrial Ltda.
  • Mahindra & Mahindra Ltd. Staff Provident Fund
  • Mahindra Waste to Energy Solutions Ltd.
  • Hindustan Tractors Ltd.
  • Mahindra Automotive Mauritius Ltd.
  • Mahindra Automotive Australia Pty Ltd.
  • Trringo.com Ltd.
  • Meru Travel Solutions Pvt Ltd.
  • Koncept Automobiles Pvt Ltd.
  • Classic Legends Pvt Ltd.
  • Mahindra Agri Solutions Ltd.
  • Mahindra Two Wheelers Europe Holdings SARL
  • Mahindra eMarket Ltd.
  • Mahindra Trucks & Buses Ltd.
  • Mahindra Investments International Pvt. Ltd.
  • Mahindra Defence Naval Systems Pvt Ltd.
  • Mahindra Electoral Trust Co.
  • Mahindra Reva Electric Vehicles Ltd.
  • Mahindra Defence Systems Ltd.
  • Mahindra Intratrade Ltd.
  • Navistar International Corp. /Joint Ventures (2)/
  • Mahindra Vehicle Manufacturers Ltd.
  • Mahindra Partners
  • Crest Geartech Pvt Ltd.
  • Defence Land Systems India Pvt Ltd.
  • Mahindra Construction Co. Ltd.
  • Vayugrid Marketplace Services Pvt Ltd.
  • Mahindra Holdings Ltd.

Competitors

  • KIA Motors Corporation
  • LVMC Holdings Co. Ltd.
  • Great Wall Motor Co., Ltd. Class H
  • Deere & Company
Last Updated on 29 Oct, 2020

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