Mahindra & Mahindra Limited (M&M) - Net Assets
Based on the latest financial reports, Mahindra & Mahindra Limited (M&M) has net assets worth Rs980.91 Billion INR as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs2.93 Trillion) and total liabilities (Rs1.95 Trillion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs980.91 Billion |
| % of Total Assets | 33.49% |
| Annual Growth Rate | 19.0% |
| 5-Year Change | 75.9% |
| 10-Year Change | 154.95% |
| Growth Volatility | 16.18 |
Mahindra & Mahindra Limited - Net Assets Trend (2005–2025)
This chart illustrates how Mahindra & Mahindra Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Mahindra & Mahindra Limited (2005–2025)
The table below shows the annual net assets of Mahindra & Mahindra Limited from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | Rs890.98 Billion | +14.95% |
| 2024-03-31 | Rs775.09 Billion | +15.54% |
| 2023-03-31 | Rs670.82 Billion | +18.05% |
| 2022-03-31 | Rs568.25 Billion | +12.19% |
| 2021-03-31 | Rs506.52 Billion | +6.28% |
| 2020-03-31 | Rs476.61 Billion | -1.41% |
| 2019-03-31 | Rs483.44 Billion | +7.37% |
| 2018-03-31 | Rs450.26 Billion | +24.74% |
| 2017-03-31 | Rs360.95 Billion | +3.29% |
| 2016-03-31 | Rs349.47 Billion | +10.07% |
| 2015-03-31 | Rs317.49 Billion | +9.33% |
| 2014-03-31 | Rs290.40 Billion | +14.97% |
| 2013-03-31 | Rs252.58 Billion | +18.61% |
| 2012-03-31 | Rs212.95 Billion | +14.36% |
| 2011-03-31 | Rs186.21 Billion | +47.19% |
| 2010-03-31 | Rs126.51 Billion | +25.26% |
| 2009-03-31 | Rs101.00 Billion | +13.49% |
| 2008-03-31 | Rs88.99 Billion | +36.58% |
| 2007-03-31 | Rs65.16 Billion | +42.44% |
| 2006-03-31 | Rs45.74 Billion | +66.43% |
| 2005-03-31 | Rs27.48 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Mahindra & Mahindra Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 67939720000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Rs679.40 Billion | 88.19% |
| Common Stock | Rs5.58 Billion | 0.72% |
| Other Comprehensive Income | Rs56.08 Billion | 7.28% |
| Other Components | Rs29.32 Billion | 3.81% |
| Total Equity | Rs770.38 Billion | 100.00% |
Mahindra & Mahindra Limited Competitors by Market Cap
The table below lists competitors of Mahindra & Mahindra Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ITC Limited
NSE:ITC
|
$41.57 Billion |
|
Ameriprise Financial Inc
NYSE:AMP
|
$41.60 Billion |
|
Victory Giant Technology Huizhou Co Ltd
SHE:300476
|
$41.68 Billion |
|
Banco BTG Pactual S.A.
SA:BPAC11
|
$41.71 Billion |
|
PT Bank Central Asia Tbk
F:BZG2
|
$41.46 Billion |
|
Aena SA
MC:AENA
|
$41.40 Billion |
|
Adani Power Limited
NSE:ADANIPOWER
|
$41.40 Billion |
|
NTPC Limited
NSE:NTPC
|
$41.28 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Mahindra & Mahindra Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 661,905,500,000 to 770,380,000,000, a change of 108,474,500,000 (16.4%).
- Net income of 129,291,000,000 contributed positively to equity growth.
- Dividend payments of 28,050,000,000 reduced retained earnings.
- Share repurchases of 20,507,300,000 reduced equity.
- New share issuances of 20,507,300,000 increased equity.
- Other comprehensive income increased equity by 3,802,500,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs129.29 Billion | +16.78% |
| Dividends Paid | Rs28.05 Billion | -3.64% |
| Share Repurchases | Rs20.51 Billion | -2.66% |
| Share Issuances | Rs20.51 Billion | +2.66% |
| Other Comprehensive Income | Rs3.80 Billion | +0.49% |
| Other Changes | Rs3.43 Billion | +0.45% |
| Total Change | Rs- | 16.39% |
Book Value vs Market Value Analysis
This analysis compares Mahindra & Mahindra Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.65x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 131.14x to 4.65x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | Rs24.40 | Rs3200.20 | x |
| 2006-03-31 | Rs37.86 | Rs3200.20 | x |
| 2007-03-31 | Rs47.60 | Rs3200.20 | x |
| 2008-03-31 | Rs60.35 | Rs3200.20 | x |
| 2009-03-31 | Rs59.73 | Rs3200.20 | x |
| 2010-03-31 | Rs85.55 | Rs3200.20 | x |
| 2011-03-31 | Rs119.08 | Rs3200.20 | x |
| 2012-03-31 | Rs136.57 | Rs3200.20 | x |
| 2013-03-31 | Rs162.55 | Rs3200.20 | x |
| 2014-03-31 | Rs189.35 | Rs3200.20 | x |
| 2015-03-31 | Rs208.88 | Rs3200.20 | x |
| 2016-03-31 | Rs263.63 | Rs3200.20 | x |
| 2017-03-31 | Rs273.23 | Rs3200.20 | x |
| 2018-03-31 | Rs337.20 | Rs3200.20 | x |
| 2019-03-31 | Rs366.29 | Rs3200.20 | x |
| 2020-03-31 | Rs360.39 | Rs3200.20 | x |
| 2021-03-31 | Rs373.14 | Rs3200.20 | x |
| 2022-03-31 | Rs422.42 | Rs3200.20 | x |
| 2023-03-31 | Rs504.48 | Rs3200.20 | x |
| 2024-03-31 | Rs591.64 | Rs3200.20 | x |
| 2025-03-31 | Rs687.89 | Rs3200.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Mahindra & Mahindra Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.78%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.23%
- • Asset Turnover: 0.57x
- • Equity Multiplier: 3.60x
- Recent ROE (16.78%) is above the historical average (14.11%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 28.58% | 7.12% | 1.02x | 3.92x | Rs4.43 Billion |
| 2006 | 34.12% | 10.04% | 0.93x | 3.64x | Rs8.98 Billion |
| 2007 | 31.23% | 8.63% | 0.88x | 4.09x | Rs10.31 Billion |
| 2008 | 25.49% | 6.43% | 0.94x | 4.21x | Rs9.55 Billion |
| 2009 | 19.96% | 5.25% | 0.85x | 4.45x | Rs7.01 Billion |
| 2010 | 24.33% | 7.85% | 0.89x | 3.50x | Rs14.60 Billion |
| 2011 | 22.23% | 8.62% | 0.73x | 3.51x | Rs17.46 Billion |
| 2012 | 18.25% | 5.88% | 0.81x | 3.81x | Rs13.83 Billion |
| 2013 | 20.54% | 6.68% | 0.80x | 3.83x | Rs21.03 Billion |
| 2014 | 0.22% | 4.42% | 0.01x | 3.79x | Rs-22.80 Billion |
| 2015 | 0.20% | 4.42% | 0.01x | 3.67x | Rs-25.35 Billion |
| 2016 | 0.17% | 4.13% | 0.01x | 3.78x | Rs-28.14 Billion |
| 2017 | 0.19% | 4.38% | 0.01x | 3.86x | Rs-29.17 Billion |
| 2018 | 0.31% | 8.11% | 0.01x | 3.73x | Rs-35.62 Billion |
| 2019 | 0.19% | 5.03% | 0.01x | 4.09x | Rs-39.22 Billion |
| 2020 | 0.00% | 0.17% | 0.01x | 4.18x | Rs-39.95 Billion |
| 2021 | 4.36% | 2.46% | 0.44x | 4.00x | Rs-23.46 Billion |
| 2022 | 13.96% | 7.34% | 0.51x | 3.69x | Rs18.65 Billion |
| 2023 | 18.24% | 8.54% | 0.58x | 3.65x | Rs46.45 Billion |
| 2024 | 17.02% | 8.21% | 0.58x | 3.57x | Rs46.50 Billion |
| 2025 | 16.78% | 8.23% | 0.57x | 3.60x | Rs52.25 Billion |
Industry Comparison
This section compares Mahindra & Mahindra Limited's net assets metrics with peer companies in the Auto Manufacturers industry.
Industry Context
- Industry: Auto Manufacturers
- Average net assets among peers: $97,718,808,171
- Average return on equity (ROE) among peers: -127.05%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mahindra & Mahindra Limited (M&M) | Rs980.91 Billion | 28.58% | 1.99x | $41.55 Billion |
| Ather Energy Limited (ATHERENERG) | $2.25 Billion | -153.00% | 2.64x | $920.27 |
| Bajaj Auto Limited (BAJAJ-AUTO) | $298.60 Billion | 20.65% | 0.18x | $29.52 Billion |
| Eicher Motors Limited (EICHERMOT) | $16.34 Billion | 4.12% | 0.41x | $21.33 Billion |
| FORCE MOTORS LTD (FORCEMOT) | $141.52 Million | -1057.75% | 76.76x | $3.19 Billion |
| Hero MotoCorp Limited (HEROMOTOCO) | $167.81 Billion | 16.75% | 0.43x | $11.32 Billion |
| Hindustan Motors Limited (HINDMOTORS) | $-302.67 Million | 0.00% | 0.00x | $46.19 Million |
| Maruti Suzuki India Limited (MARUTI) | $370.90 Billion | 20.25% | 0.40x | $45.74 Billion |
| Ola Electric Mobility Ltd (OLAELEC) | $19.71 Billion | -10.11% | 0.07x | $1.85 Billion |
| SML Isuzu Limited (SMLISUZU) | $4.03 Billion | 15.65% | 0.94x | $491.77 Million |
About Mahindra & Mahindra Limited
Mahindra & Mahindra Limited provides mobility products and farm solutions in India and internationally. It operates through five segments: Automotive; Farm Equipment; Auto Investments; Farm Investments; and Investments in Industrial Businesses and Consumer Services. The company offers commercial vehicles, trucks, buses, vans, passenger cars, utility vehicles, and electric vehicles (EV), as well a… Read more