Mahindra & Mahindra Financial Services LimitedM&MFINBank / NBFC

Financial Services Credit Services Latest results: Sep 2026 16 quarters of data

₹261.75

MCap ₹36,373 Cr · P/E 10.1

AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.

₹5,936 Cr

Interest Earned · Sep 2026

+32.6% YoY

₹1,202 Cr

Operating Profit · Sep 2026

-20.5% YoY

₹911 Cr

Net Profit · Sep 2026

+60.9% YoY

₹6.54

EPS · Sep 2026

+61.1% YoY

—

Gross NPA % · Sep 2026

—

Net NPA % · Sep 2026

📝 Mahindra & Mahindra Financial Services Limited — results explained

Quarter ended September 2026 (Q2 FY27)

Mahindra & Mahindra Financial Services Limited reported total income of ₹5,962 crore for the quarter ended September 2026 (Q2 FY27), up 18.1% from ₹5,049 crore in the same quarter last year, and up 4.3% sequentially over the June 2026 quarter.

Of this, interest earned contributed ₹5,936 crore and other income ₹26 crore. Net interest income (interest earned minus interest expended of ₹2,523 crore) worked out to ₹3,413 crore.

Net profit rose 60.9% year-on-year to ₹911 crore, from ₹566 crore. Earnings per share (EPS) came in at ₹6.54.

Full year and trailing twelve months

For the full year FY26, Mahindra & Mahindra Financial Services Limited posted total income of ₹21,103 crore, a growth of 13.9% over FY25, with a net profit of ₹2,861 crore (up 26.5% year-on-year).

On a trailing-twelve-month (TTM) basis, total income stands at ₹22,720 crore with a net profit of ₹3,604 crore.

Valuation snapshot

At the current price of ₹261.75, M&MFIN has a market capitalisation of ₹36,373 crore and a trailing P/E of about 10.1.

Within the Credit Services industry, it is the 13th-largest of the 23 companies we track by market value.

Shareholding pattern

As of Sep 2026, promoters held 52.48%, foreign institutional investors (FIIs) 9.96%, domestic institutional investors (DIIs) 31.56%, public shareholders 5.97% of Mahindra & Mahindra Financial Services Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹36,373 Cr

Current Price ?

₹261.8

P/E ?

10.09below ind

Industry P/E ?

13.90

P/B ?

1.32

P/S ?

1.60

P/FCF ?

-2.77

Enterprise Value ?

N/A

EV/EBITDA ?

N/A

PEG ?

0.84

Earnings Yield ?

9.9%

Dividend Yield ?

2.83%

Profitability & Returns

Total Income (TTM) ?

₹22,720 Cr

OPM ?

N/A

Profit after tax (TTM) ?

₹3,604 Cr

EPS (TTM) ?

₹25.93

ROCE ?

N/A

ROE ?

13.1%

ROA ?

2.0%

Gross NPA % ?

N/A

Net NPA % ?

N/A

Growth

Total Income — latest qtr ?

₹5,962 Cr

PAT — latest qtr ?

₹911 Cr

YoY qtr sales growth ?

18.1%

YoY qtr profit growth ?

60.9%

Sales growth (3y) ?

18%

Sales growth (5y) ?

11%

Profit growth (3y) ?

12%

Profit growth (5y) ?

35%

Financial Health

Debt ?

N/A

Debt to Equity ?

N/A

Interest Coverage ?

N/A

Ownership

Promoter holding ?

52.48%

Change in promoter holding ?

-0.01%

FII holding ?

9.96%

DII holding ?

31.56%

Market

Return 3 months ?

-34.3%

Return 6 months ?

-20.0%

🗓️ Quarterly results (16 quarters · ₹ Cr)

same fiscal quarter as Sep bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026	YoY %	QoQ %
Interest Earned	3,134	3,282	3,369	3,485	3,693	3,866	3,923	4,054	4,265	4,324	4,468	4,477	4,710	5,539	5,718	5,936	+32.6%	+3.8%
Other Income	219	267	268	378	444	467	432	425	534	573	545	573	755	37	—	26	-95.4%	—
Total Income	3,353	3,549	3,637	3,863	4,137	4,333	4,355	4,479	4,799	4,897	5,013	5,049	5,464	5,576	5,718	5,962	+18.1%	+4.3%
Interest Expended	1,373	1,477	1,597	1,703	1,798	1,861	1,960	2,062	2,175	2,218	2,280	2,198	2,236	2,220	—	2,523	+14.8%	—
Operating Profit	1,058	1,018	1,062	1,016	1,160	1,250	1,197	1,247	1,313	1,290	1,379	1,511	1,696	—	—	1,202	-20.5%	—
Provisions	182	84	593	646	347	370	555	738	96	697	695	768	476	—	—	—	—	—
Profit Before Tax	884	934	483	383	826	896	661	523	1,233	609	704	759	1,105	1,259	1,242	1,223	+61.2%	-1.5%
Net Profit	664	675	362	287	623	671	497	390	918	456	529	566	826	940	927	911	+60.9%	-1.8%
EPS	5.36	5.52	2.91	2.28	5.05	5.43	4.03	3.15	7.43	3.70	4.06	4.06	5.93	6.75	6.66	6.54	+61.1%	-1.8%
Gross NPA %	5.93%	4.49%	4.35%	4.29%	3.97%	3.40%	3.56%	3.83%	3.93%	3.69%	3.85%	3.94%	3.80%	3.41%	—	—	—	—
Net NPA %	2.52%	1.87%	1.78%	1.71%	1.52%	1.28%	1.46%	1.59%	2.00%	1.84%	1.91%	1.89%	1.82%	1.44%	—	—	—	—
Capital Adequacy Ratio	23.43%	—	21.16%	—	18.35%	—	18.50%	—	17.81%	—	20.62%	—	19.82%	—	—	—	—	—

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Interest Earned	₹16,566 Cr	₹19,194 Cr	₹21,902 Cr	+15.9%
Other Income	₹1,964 Cr	₹1,909 Cr	₹818 Cr	-2.8%
Total Income	₹18,530 Cr	₹21,103 Cr	₹22,720 Cr	+13.9%
Interest Expended	₹8,415 Cr	₹8,934 Cr	₹6,979 Cr	+6.2%
Net Interest Income	₹8,151 Cr	₹10,260 Cr	₹14,923 Cr	+25.9%
Operating Profit	₹5,047 Cr	₹4,586 Cr	₹2,897 Cr	-9.1%
Provisions	₹2,085 Cr	₹1,940 Cr	₹476 Cr	-7.0%
Profit Before Tax	₹3,027 Cr	₹3,826 Cr	₹4,829 Cr	+26.4%
Tax	₹766 Cr	₹646 Cr	₹906 Cr	-15.6%
Net Profit	₹2,261 Cr	₹2,861 Cr	₹3,604 Cr	+26.5%
EPS	₹18.31	₹20.80	₹25.88	+13.6%

🏛️ Balance Sheet (latest 5 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026	% Chg
Equity Capital	247	247	247	278	278	-0.0%
Reserves	18,313	19,686	21,282	26,361	27,209	+3.2%
Borrowing	81,429	100,215	119,093	128,370	134,879	+5.1%
Other Liabilities	5,096	3,567	3,483	3,635	3,225	-11.3%
Total Liabilities	105,085	123,716	144,105	158,644	180,292	+13.6%
Fixed Assets	871	1,008	1,207	1,334	1,278	-4.2%
CWIP	3	106	66	2	4	+95.0%
Investments	10,063	9,598	10,590	7,407	11,340	+53.1%
Other Assets	94,148	113,004	132,242	149,902	167,669	+11.9%
Total Assets	105,085	123,716	144,105	158,644	180,292	+13.6%
Deposits	—	—	—	—	14,700	—

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	-17,395	-18,449	-15,602	-12,772	+18.1%
Cash from Investing Activity	-1,635	2,671	-1,077	770	+171.5%
Cash from Financing Activity	18,852	16,095	17,605	10,637	-39.6%
Net Cash Flow	-179	317	927	-1,365	-247.2%
Free Cash Flow	-17,794	-18,719	-15,975	-13,120	+17.9%
CFO/OP	-207%	-181%	-126%	-91%	+27.8%

💧 Half-year Cash Flow (latest 1 periods)

Metric	Sep 2026	% Chg
Cash from Operating Activity	-12,276	—
Cash from Investing Activity	-2,939	—
Cash from Financing Activity	20,003	—
Net Cash Flow	4,787	—

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
ROE %	12%	10%	11%	12%	+9.1%

👥 Shareholding (latest 5 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Sep 2026	% Chg
Promoters	52.49%	52.49%	52.49%	52.49%	52.48%	-0.0%
FIIs	9.33%	9.59%	9.11%	9.40%	9.96%	+6.0%
DIIs	32.33%	32.29%	32.34%	32.09%	31.56%	-1.7%
Public	5.79%	5.58%	6.02%	5.98%	5.97%	-0.2%
Others	0.05%	0.04%	0.04%	0.03%	—	—
No. of Shareholders	2,27,141	2,22,526	2,43,019	2,36,252	2,29,567	-2.8%

⚖️ Peer comparison

Industry: Credit Services · 23 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Total Inc TTM	NP TTM	OPM%	NPM%	ROE%	Inc YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	BAJFINANCE Bajaj Finance	₹926.00	576,334	26.6	90,578	22,067	19.7%	24.4%	17.9%	18.4%	15.2%	21.8%	28.7%
2	SHRIRAMFIN Shriram Finance	₹818.75	192,659	15.1	51,948	12,687	27.4%	24.4%	11.4%	15.1%	4.7%	15.8%	59.2%
3	CHOLAFIN Cholamandalam Investment	₹1,529.90	131,191	20.9	34,925	6,222	12.6%	17.8%	18.0%	20.6%	22.7%	23.4%	40.6%
4	PFC Power Finance	₹317.15	104,663	4.0	115,462	33,642	28.0%	29.1%	25.3%	8.4%	10.2%	-0.2%	0.2%
5	IRFC Indian Railway	₹74.87	97,844	13.3	30,364	7,372	18.9%	24.3%	13.0%	0.7%	7.8%	24.4%	10.2%
6	MUTHOOTFIN Muthoot Finance	₹2,356.90	94,622	7.8	36,237	12,323	33.8%	34.0%	28.1%	54.4%	98.1%	36.5%	35.9%
7	RECLTD REC	₹293.90	77,390	5.1	59,123	15,098	25.2%	25.5%	15.9%	5.7%	2.7%	-1.0%	-21.2%
8	LTF L&T Finance	₹233.35	58,487	12.0	20,052	4,871	12.7%	24.3%	16.6%	12.4%	67.1%	26.5%	32.4%
9	SBICARD SBI Cards	₹542.85	51,660	19.8	21,047	2,608	18.6%	12.4%	15.2%	11.1%	13.1%	3.2%	74.8%
10	PIRAMALFIN PIRAMAL FINANCE	₹1,870.70	44,247	—	—	—	—	—	—	—	—	—	—
11	SUNDARMFIN Sundaram Finance	₹3,875.10	42,710	19.3	10,164	2,220	23.7%	21.8%	14.9%	15.2%	9.5%	12.8%	33.9%
12	HDBFS HDB FINANCIAL	₹496.90	41,187	13.9	19,362	2,960	27.7%	15.3%	13.4%	—	—	10.1%	34.2%
13	M&MFIN Mahindra & Mahindra	₹274.85	38,194	10.6	22,720	3,604	12.8%	15.9%	13.1%	13.9%	26.5%	18.1%	60.9%
14	POONAWALLA Poonawalla Fincorp	₹405.20	35,682	31.6	8,900	1,088	15.8%	12.2%	7.9%	60.9%	652.7%	70.1%	405.2%
15	HUDCO Housing and Urban	₹145.75	29,178	6.9	14,119	4,255	19.2%	30.1%	19.4%	28.8%	48.9%	26.9%	35.1%
16	IREDA Indian Renewable	₹101.85	28,612	14.5	8,915	1,970	17.4%	22.1%	13.7%	23.4%	10.3%	13.9%	1.0%
17	MANAPPURAM Manappuram Finance	₹283.95	26,672	18.1	10,300	1,445	16.2%	14.0%	9.0%	-5.5%	-17.5%	34.2%	341.4%
18	CHOLAHLDNG Cholamandalam Financial	₹1,329.60	24,967	9.4	41,410	6,015	18.6%	14.5%	38.9%	18.3%	15.7%	19.5%	42.0%
19	CGCL Capri Global	₹238.54	22,951	17.5	5,983	1,310	23.2%	21.9%	16.5%	45.9%	98.4%	59.1%	77.3%
20	IIFL IIFL Finance	₹526.00	22,450	9.0	15,302	2,642	20.0%	17.3%	17.1%	30.8%	214.4%	28.4%	92.6%
21	CREDITACC CreditAccess Grameen	₹1,142.40	18,310	11.5	6,779	1,587	29.7%	23.4%	17.8%	5.3%	46.5%	26.2%	298.7%
22	IFCI IFCI	₹58.96	15,886	68.5	2,043	432	32.0%	21.2%	4.8%	3.2%	24.7%	-19.6%	-3.5%
23	KISSHT OnEMI Technology	₹361.35	6,406	16.4	2,611	379	30.3%	14.5%	28.2%	—	—	—	—

❓ Frequently asked questions

What was Mahindra & Mahindra Financial Services Limited's total income in Q2 FY27?

What was Mahindra & Mahindra Financial Services Limited's net profit in Q2 FY27?