M&M share price today

Mahindra & Mahindra Ltd's share price was ₹2,840.30 at the close on 30 October 2026. It has been falling for 4 weeks. That is 10.2% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹2,796 and ₹3,802, and at that close it sat 4% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Mahindra & Mahindra Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 7 weeks running.

Over the last 11 years the share price moved +365% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 11 September 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare), foreign funds (FIIs) cut their stake for 5 quarters in a row and indian funds and insurers (DIIs) raised their stake for 5 quarters in a row.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹58,188 crore, +27.8% on a year earlier.

   Why: Revenue rose because the company sold more SUVs and light commercial vehicles, and electric cars made up a larger share of sales.

   Next results: check whether monthly auto capacity reaches 68,000 by September, including 8,000 EVs, and moves toward 82,000 by year-end.

   From the earnings call on 30 Jul 2026.

2. Foreign funds (FIIs) cut their stake for 5 quarters in a row

   From 38.5% to 33.3% of the company by the September 2026 quarter.

3. Indian funds and insurers (DIIs) raised their stake for 5 quarters in a row

   From 29.6% to 34.2% of the company by the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), M&M reported revenue of ₹58,188 crore, up 27.8% from ₹45,529 crore a year earlier, and a profit of ₹5,998 crore, up 37.0% from ₹4,377 crore.

M&M results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

M&M's management discussed these results on a call held on 30 July 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

M&M closed at ₹2,840.30 on 30 October 2026, down 18.6% from ₹3,487.20 a year earlier (31 October 2025) and up 221.2% over five years. Its highest weekly close since March 2016 was ₹3,802.40 on 2 January 2026.

M&M share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 30 Oct 2026 close. A day's intraday high or low can go beyond these weekly closes.

561 weekly closes from 11 March 2016 to 30 October 2026.

30 Oct 2026: M&M closed at ₹2,840.30, down 0.7% on the week and down 0.7% on the month. 30 Jul 2026: M&M held its results call for April to June 2026. Management guided: Auto monthly capacity of 60,000 ICE SUVs and 8,000 EVs, or 68,000 total, by September.

Earlier

• 3 Jul 2026: ex-date for a dividend of ₹33 a share.
• Results for April to June 2026: Revenue up 27.8% and profit up 37.0% on a year earlier.

M&M paid ₹33 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 1.16% at the ₹2,840.30 close on 30 October 2026. The last was a dividend of ₹33 a share, ex-date 3 July 2026.

M&M dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Mahindra & Mahindra Ltd paid out 22% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 30 July 2026, M&M's management guided: Auto monthly capacity of 60,000 ICE SUVs and 8,000 EVs, or 68,000 total, by September.

“We expect to hit a 15.0% EBITDA margin by the end of FY27 and will then discuss the next phase.”Management, on the call for April to June 2026

What management guided

• Auto monthly capacity of 12,000 EVs and 82,000 total by year-end after 10,000 INGLO capacity; later Chakan and Nagpur phases reach 92,000 and ultimately double current levels by FY31.
• Tech Mahindra operating margin to reach 15.0% by end FY27; opening remarks also referred to end of this fiscal year, so timeframe requires confirmation.
• Mahindra Finance total lending book to reach ₹3 lakh crores by 2031, with a 70/30 mobility and non-wheels mix.
• Mahindra Finance ROA to remain around 2.4% to meet group ROE aspirations.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 30 July 2026.

When M&M reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Check whether monthly auto capacity reaches 68,000 by September, including 8,000 EVs, and progresses toward 82,000 by year-end.

M&M is on 2 of our India lists: Nifty 50 companies and 52 week high & low.

Mahindra & Mahindra Ltd earned ₹5,998 Cr of net profit in the Jun 2026 quarter, +37.0% on the same quarter a year earlier. That is the 8th quarter in a row of profit growth. Full-year FY26 profit was ₹18,622 Cr. Over 10 years profit has grown 18.0% a year on average. That is 10.3% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹4,377 Cr.

For the full year, FY26 profit was ₹18,622 Cr (+32.3% on the year before).

Why profit moved: revenue changed +27.8% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +35.5% and revenue +26.0%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Mahindra & Mahindra Ltd reported ₹58,188 Cr of revenue in the Jun 2026 quarter, +27.8% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 10.1% a year on average. The last full year, FY26, came in at ₹1,98,639 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹2,11,376 Cr.

FY26 revenue was ₹1,98,639 Cr, +24.8% on the year before.

Recent pace: the last four quarters grew +26.0% on average, against 10.1% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +26.2%, against +21.8% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +35.8%, against +29.2% a year (accelerating).

Mahindra & Mahindra Ltd's operating margin was 19.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 12.0% and 19.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +0.1 percentage points on the year while gross margin changed −0.2 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Over the last 3 years, 20% of Mahindra & Mahindra Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹11,657 Cr of operating cash against ₹18,622 Cr of profit. After ₹10,587 Cr of spending on assets, ₹1,070 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 20% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 1.8× depreciation over three years. The next section checks what that spending is building.

Mahindra & Mahindra Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −30 days in FY26, down from −26 days in FY21. It spent ₹33,210 Cr on assets over the last 3 years. Customers take 17 days to pay, and stock sits for 65 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,98,639 Cr, each day of that cycle ties up about ₹544 Cr, so roughly −₹16,326 Cr is tied up in the business at any time.

FY26: customers took 17 days to pay and stock sat for 65 days, about 2.1 months of sales sitting as stock, for a full cycle of −30 days, shorter than FY21's −26.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 65 days. Customers pay about 17 days after that. Suppliers are paid at 112 days. Together that makes the −30-day cycle.

Spending on assets: ₹33,210 Cr over the last 3 years, against ₹18,120 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹7,740 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Mahindra & Mahindra Ltd's P/E is 18.4×, near the low end of its own history: it has been lower only 19% of the time. Its usual P/E (the middle reading) is 24.5×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹148.52.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.