Mahindra & Mahindra Ltd.
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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
Financial Highlights
| Mar 2020 | INR | USD |
| Revenue | 949,261.90M | 13,387.61M |
| Gross Profit | 219,892M | 3,101.17M |
| Operating income | 77,560.30M | 1,093.84M |
| Income before tax | 6,120.30M | 86.31M |
| Net income | 1,270.40M | 17.91M |
| EBITDA | 127,323.20M | 1,795.66M |
| Diluted EPS | 1.03 | 0.01 |
| Dividends Per Share | 2.35 | 0.03 |
| Total Assets | 1,670.06B | 22,075.86M |
| Total liabilities | 1,193.45B | 15,775.76M |
| Total equity | 399,693.10M | 5,283.36M |
| Operating cash flow | -11,161.40M | -157.41M |
| Currency in INR | Currency in USD |
Historical Data
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 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 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 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 | |
| PER | 247.78 |
| ROA | 0.07% |
| ROE | 0.31% |
| Operating margin | 8.17% |
| Profit margin | 0.13% |
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
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- Mahindra Agri Solutions Ltd.
- Mahindra Two Wheelers Europe Holdings SARL
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- 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
Copyright © 2020 FactSet Research Systems Inc. All rights reserved.
Last Updated on 29 Oct, 2020
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