Mahindra & Mahindra
 | |
| Company type | Public |
|---|---|
| BSE: 500520 NSE: M&M | |
| Industry | Automotive, Agriculture, Financial services, Information technology, Hospitality, Real estate |
| Founded | 1945 |
| Founder | Jagdish Chandra Mahindra, Kailash Chandra Mahindra, Malik Ghulam Muhammad |
| Headquarters | Mumbai, Maharashtra, India |
Key people | Anand Mahindra (Chairman) Anish Shah (Managing Director & CEO) |
| Revenue | US$14.8 billion (2024–25)[1] |
Number of employees | 260,000 (2024)[2] |
| Parent | Mahindra Group |
| Subsidiaries | Mahindra & Mahindra Financial Services, Mahindra Electric, Tech Mahindra, Mahindra Holidays & Resorts India, Mahindra Tractors, Swaraj Tractors, Pininfarina, SsangYong Motor |
| Website | www |
Mahindra & Mahindra (M&M) is an Indian multinational conglomerate headquartered in Mumbai, Maharashtra, India. Founded in 1945 by Jagdish Chandra Mahindra, Kailash Chandra Mahindra, and Malik Ghulam Muhammad as a steel trading company, M&M has grown into a leading player in the automotive, agriculture, financial services, IT, hospitality, and real estate sectors.[2] As of 2025, M&M is the flagship company of the Mahindra Group, with a market capitalization of approximately ₹3.8 trillion (US$45 billion) and operations in over 100 countries.[3]
History
Founding and Early Years
Mahindra & Mahindra was established in 1945 as Mahindra & Mohammed in Ludhiana, Punjab, to trade steel and import vehicles.[4] After India’s partition in 1947, Malik Ghulam Muhammad left for Pakistan, and the company was renamed Mahindra & Mahindra. It began assembling Willys jeeps under license, marking its entry into the automotive sector.[2] By the 1960s, M&M expanded into manufacturing tractors, launching Mahindra Tractors.[4]
Growth and Diversification
Under Keshub Mahindra’s leadership (1963–2012), M&M diversified into financial services with Mahindra & Mahindra Financial Services in 1991 and IT through Tech Mahindra in 1986.[5] The company launched its first indigenous SUV, the Mahindra Scorpio, in 2002, which became a market leader.[4] In 2011, M&M acquired a 70% stake in SsangYong Motor, expanding its global automotive presence, and in 2015, it acquired Italian design firm Pininfarina.[6]
Recent Developments
Since 2021, under CEO Anish Shah, M&M has focused on electric vehicles (EVs) and SUVs, overtaking Tata Motors and Hyundai Motor India to become India’s second-largest automaker by retail sales in April 2025, with a 303% growth in car sales from FY2021 to FY2025.[7] In 2022, M&M merged its EV subsidiary, Mahindra Electric, into the parent company and secured a ₹1,925 crore investment from British International Investment for its EV unit.[8] The company is expanding its EV manufacturing, with plans for facilities in Telangana and Kerala.[9][10]
In Q4 FY2025, M&M reported a 13.34% rise in consolidated profit after tax to ₹3,541.85 crore and a 20.39% increase in revenue to ₹42,585.67 crore, driven by strong performance in its automotive and farm equipment sectors.[11] The company declared a dividend of ₹25.30 per share for FY2025.[1]
Operations
M&M operates in multiple sectors:
- Automotive: Produces SUVs like Mahindra Thar, Mahindra Scorpio, and Mahindra XUV700, with a 15.3% volume growth in Q4 FY2025 (319,451 units).[12]
- Farm Equipment: World’s largest tractor manufacturer by volume, with a 43.3% market share in India in FY2025, led by Mahindra Tractors and Swaraj Tractors.[13]
- Financial Services: Mahindra & Mahindra Financial Services reported ₹18,463.10 crore in revenue for FY2025, with assets under management growing 17%.[14]
- IT and Other Services: Tech Mahindra provides IT services, while Mahindra Holidays & Resorts India operates in hospitality.[2]
M&M’s manufacturing facilities are located in Maharashtra, Tamil Nadu, Telangana, and internationally in South Korea and Italy.[2]
Sustainability and Innovation
M&M is a leader in sustainable mobility, with 380% growth in patents issued in FY2023.[15] Its EV portfolio includes models like the Mahindra XUV400, and it aims to electrify various vehicle segments.[16] The company targets carbon neutrality by 2040 and has implemented initiatives to reduce water and energy consumption across its plants.[2]
Social Responsibility
Through the Mahindra Foundation, M&M supports education, healthcare, and women’s empowerment in rural India. Programs like Nanhi Kali focus on girls’ education, impacting over 450,000 students.[5] The company also invests in community development near its manufacturing facilities.[2]
Financial Performance
In FY2025, M&M’s standalone revenue grew 18% to ₹116,483.68 crore, with a 21.85% increase in profit after tax to ₹2,437.14 crore in Q4 FY2025.[1] Consolidated profit rose 13.34% to ₹3,541.85 crore, with revenue up 20.39% to ₹42,585.67 crore.[11] The company generated ₹10,000 crore in cash, enabling strategic investments.[13] M&M’s farm equipment segment saw a 23% volume growth, and its auto segment maintained market leadership with a 15% revenue increase.[13]
External Links
References
- ↑ 1.0 1.1 1.2 "M&M Q4 result: Net profit rises 21% to Rs 2,437 crore, dividend declared". Business Standard. 5 May 2025. Retrieved 30 May 2025.
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 2.6 "About Mahindra". Mahindra & Mahindra. Retrieved 30 May 2025.
- ↑ "Mahindra & Mahindra: 80 years of driving India's growth". Livemint. 10 May 2025. Retrieved 30 May 2025.
- ↑ 4.0 4.1 4.2 "Mahindra & Mahindra: A legacy of innovation and leadership". Hindustan Times. 15 October 2023. Retrieved 30 May 2025.
- ↑ 5.0 5.1 "Mahindra & Mahindra: Growth and diversification". Forbes India. 20 August 2024. Retrieved 30 May 2025.
- ↑ "Mahindra to buy Italy's Pininfarina for 25 mln euros". Reuters. 14 December 2015. Retrieved 30 May 2025.
- ↑ "Mahindra set to report strong earnings after overtaking key rivals". Livemint. 5 May 2025. Retrieved 30 May 2025.
- ↑ "M&M: British International Investment to invest Rs 1,925 cr in EV unit". CNBC-TV18. 7 July 2022. Retrieved 30 May 2025.
- ↑ @IndianTechGuide (10 August 2024). "Mahindra & Mahindra in talks with Kerala government for EV unit". X. Retrieved 30 May 2025.
- ↑ @MinisterKTR (10 February 2023). "Mahindra & Mahindra to establish EV facility in Telangana". X. Retrieved 30 May 2025.
- ↑ 11.0 11.1 "Q4 Results Highlights: Mahindra & Mahindra sees 20% rise in net profit". The Hindu BusinessLine. 5 May 2025. Retrieved 30 May 2025.
- ↑ "M&M Q4 Results 2025 Preview: Net profit may rise up to 21% YoY". Livemint. 5 May 2025. Retrieved 30 May 2025.
- ↑ 13.0 13.1 13.2 "Mahindra & Mahindra Q4 Results: Revenue up 25% from last year". CNBC-TV18. 5 May 2025. Retrieved 30 May 2025.
- ↑ "Mahindra & Mahindra Financial Services consolidated net profit declines 31.79% in March 2025 quarter". Business Standard. 23 April 2025. Retrieved 30 May 2025.
- ↑ @MahindraRise (3 May 2024). "Mahindra & Mahindra leads in patents". X. Retrieved 30 May 2025.
- ↑ @autocarpro (22 April 2021). "Mahindra & Mahindra bets big on electric mobility". X. Retrieved 30 May 2025.