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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 2022 INRUSD
Revenue901,705.70M12,101.86M
Gross Profit266,283.10M3,573.80M
Operating income111,753.50M1,499.85M
Income before tax75,059.80M1,007.38M
Net income65,773.20M882.74M
EBITDA146,828.50M1,970.59M
Diluted EPS58.830.78
Dividends Per Share11.550.15
Total Assets1,741.12B22,977.60M
Total liabilities1,172.87B15,478.39M
Total equity471,226.40M6,218.75M
Operating cash flow102,346.50M1,373.60M
Currency in INRCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 917,458M 1,043.66B 751,290.30M 735,819.20M 901,705.70M
Gross Profit 236,452M 247,601M 224,918M 202,254.50M 266,283.10M
Operating income 98,509.80M 110,070.10M 96,622.70M 80,277.90M 111,753.50M
Income before tax 92,182.60M 75,043.20M 36,611.50M 40,710.70M 75,059.80M
Net income 75,103.90M 53,154.60M 23,917.90M 33,474.10M 65,773.20M
EBITDA 131,308.80M 149,977.80M 130,289.50M 114,059M 146,828.50M
Diluted EPS 68.86 48.69 1.03 16.14 58.83
Dividends Per Share 7.50 8.50 2.35 8.75 11.55
Total Assets 1,372.10B 1,633.91B 1,670.06B 1,664.62B 1,741.12B
Total liabilities 921,852.50M 1,150.47B 1,193.45B 1,158.10B 1,172.87B
Total equity 367,516.70M 399,598.90M 399,693.10M 415,819.20M 471,226.40M
Operating cash flow 7,308.30M -42,904.70M -9,869.90M 181,072.80M 102,346.50M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 14,231.64M 14,921.65M 10,595.58M 9,912.02M 12,101.86M
Gross Profit 3,667.85M 3,540.05M 3,172.05M 2,724.51M 3,573.80M
Operating income 1,528.08M 1,573.71M 1,362.68M 1,081.40M 1,499.85M
Income before tax 1,429.94M 1,072.92M 516.33M 548.40M 1,007.38M
Net income 1,165.01M 759.97M 337.31M 450.92M 882.74M
EBITDA 2,036.86M 2,144.29M 1,837.49M 1,536.45M 1,970.59M
Diluted EPS 1.06 0.69 0.01 0.21 0.78
Dividends Per Share 0.11 0.12 0.03 0.11 0.15
Total Assets 21,037.61M 23,585.93M 22,075.86M 22,767.60M 22,977.60M
Total liabilities 14,134.13M 16,607.37M 15,775.76M 15,839.73M 15,478.39M
Total equity 5,634.88M 5,768.29M 5,283.36M 5,687.29M 6,218.75M
Operating cash flow 113.36M -613.42M -139.19M 2,439.18M 1,373.60M

Valuation Measures

Mar 2022
PER13.61
ROA3.86%
ROE14.82%
Operating margin12.39%
Profit margin7.29%

Key executives

  • Chief Executive Officer, MD & Director: Anish Dilip Shah
  • President & Group Chief Financial Officer: Manoj Bhat
  • Group Chief Technology Officer & Executive VP: Mohit Kapoor
  • President-Group Legal & Compliance: Zhooben Dossabhoy Bhiwandiwala
  • Secretary, Compliance Officer & Executive VP: Narayan Shankar

Shareholders

  • Prudential Management & Services Pvt Ltd. (11.3%)
  • Life Insurance Corporation of India (Investment Portfolio) (7.2%)
  • Mahindra & Mahindra Benefit Trust (6.7%)
  • First Sentier Investors (Australia) IM Ltd. (5.0%)
  • SBI Funds Management Pvt Ltd. (3.5%)
  • ICICI Prudential Asset Management Co. Ltd. (3.4%)
  • The Vanguard Group, Inc. (2.2%)
  • RBC Global Asset Management (UK) Ltd. (1.8%)
  • BlackRock Fund Advisors (1.5%)
  • 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: +91.22.24901441

Related Companies

  • Mahindra & Mahindra /Meru Travel Solutions Pvt Ltd. / /3 Subs/
  • 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.
  • 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 Corp.
  • Deere & Company
Last Updated on 1 Jul, 2022

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