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 10.5

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.

₹5,164 Cr

Interest Earned · Sep 2026

+23.6% YoY

₹1,162 Cr

Operating Profit · Sep 2026

-22.5% YoY

₹882 Cr

Net Profit · Sep 2026

+54.8% YoY

₹6.34

EPS · Sep 2026

+54.6% 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 ₹5,175 crore for the quarter ended September 2026 (Q2 FY27), up 15.3% from ₹4,489 crore in the same quarter last year, and up 4.1% sequentially over the June 2026 quarter.

Of this, interest earned contributed ₹5,164 crore and other income ₹11 crore. Net interest income (interest earned minus interest expended of ₹2,341 crore) worked out to ₹2,822 crore.

Net profit rose 54.8% year-on-year to ₹882 crore, from ₹569 crore. Earnings per share (EPS) came in at ₹6.34.

Full year and trailing twelve months

For the full year FY26, Mahindra & Mahindra Financial Services Limited posted total income of ₹18,500 crore, a growth of 15.1% over FY25, with a net profit of ₹2,782 crore (up 18.6% year-on-year).

On a trailing-twelve-month (TTM) basis, total income stands at ₹19,720 crore with a net profit of ₹3,464 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 10.5.

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 ?

10.50below ind

Industry P/E ?

13.90

P/B ?

1.42

P/S ?

1.84

P/FCF ?

-3.15

Enterprise Value ?

N/A

EV/EBITDA ?

N/A

PEG ?

0.88

Earnings Yield ?

9.5%

Dividend Yield ?

2.83%

Profitability & Returns

Total Income (TTM) ?

₹19,720 Cr

OPM ?

N/A

Profit after tax (TTM) ?

₹3,464 Cr

EPS (TTM) ?

₹24.92

ROCE ?

N/A

ROE ?

13.6%

ROA ?

2.1%

Gross NPA % ?

N/A

Net NPA % ?

N/A

Growth

Total Income — latest qtr ?

₹5,175 Cr

PAT — latest qtr ?

₹882 Cr

YoY qtr sales growth ?

15.3%

YoY qtr profit growth ?

54.8%

Sales growth (3y) ?

19%

Sales growth (5y) ?

12%

Profit growth (3y) ?

12%

Profit growth (5y) ?

54%

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	2,795	2,934	3,035	3,154	3,373	3,547	3,612	3,745	3,957	4,017	4,165	4,178	4,407	4,800	4,972	5,164	+23.6%	+3.8%
Other Income	97	122	91	87	117	159	148	180	187	228	273	311	356	10	—	11	-96.4%	—
Total Income	2,892	3,057	3,125	3,240	3,490	3,706	3,760	3,925	4,144	4,245	4,438	4,489	4,763	4,810	4,972	5,175	+15.3%	+4.1%
Interest Expended	1,242	1,334	1,450	1,566	1,675	1,735	1,829	1,934	2,046	2,090	2,152	2,066	2,103	2,071	—	2,341	+13.3%	—
Operating Profit	998	944	1,000	943	1,062	1,173	1,135	1,196	1,222	1,213	1,353	1,499	1,658	—	—	1,162	-22.5%	—
Provisions	155	0	526	627	328	341	448	703	9	457	660	751	470	—	—	—	—	—
Profit Before Tax	843	944	474	316	734	832	686	493	1,213	756	693	748	1,070	1,161	1,186	1,162	+55.4%	-2.1%
Net Profit	629	684	353	235	553	619	513	369	899	563	530	569	810	873	899	882	+54.8%	-1.9%
EPS	5.10	5.55	2.86	1.91	4.48	5.01	4.16	2.99	7.28	4.56	4.07	4.10	5.83	6.28	6.47	6.34	+54.6%	-2.0%
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	₹15,331 Cr	₹17,550 Cr	₹19,343 Cr	+14.5%
Other Income	₹743 Cr	₹951 Cr	₹377 Cr	+27.9%
Total Income	₹16,075 Cr	₹18,500 Cr	₹19,720 Cr	+15.1%
Interest Expended	₹7,898 Cr	₹8,392 Cr	₹6,515 Cr	+6.3%
Net Interest Income	₹7,433 Cr	₹9,157 Cr	₹12,828 Cr	+23.2%
Operating Profit	₹4,765 Cr	₹4,510 Cr	₹2,820 Cr	-5.4%
Provisions	₹1,618 Cr	₹1,881 Cr	₹470 Cr	+16.3%
Profit Before Tax	₹3,147 Cr	₹3,672 Cr	₹4,580 Cr	+16.7%
Tax	₹802 Cr	₹602 Cr	₹828 Cr	-25.0%
Net Profit	₹2,345 Cr	₹2,782 Cr	₹3,464 Cr	+18.6%
EPS	₹18.99	₹20.28	₹24.92	+6.8%

🏛️ 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	16,842	17,911	19,565	24,481	25,256	+3.2%
Borrowing	74,946	92,225	112,873	120,335	125,239	+4.1%
Other Liabilities	4,182	4,777	2,862	2,812	2,583	-8.1%
Total Liabilities	96,217	115,159	135,548	147,905	168,187	+13.7%
Fixed Assets	696	826	1,049	1,193	1,151	-3.5%
CWIP	0	105	66	2	4	+95.0%
Investments	9,989	9,651	10,400	6,820	10,709	+57.0%
Other Assets	85,532	104,578	124,033	139,890	156,324	+11.7%
Total Assets	96,217	115,159	135,548	147,905	168,187	+13.7%
Deposits	—	—	—	—	14,831	—

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	-17,485	-18,404	-15,281	-11,206	+26.7%
Cash from Investing Activity	-1,321	1,962	-1,011	1,109	+209.7%
Cash from Financing Activity	18,728	16,503	17,648	8,821	-50.0%
Net Cash Flow	-78	61	1,355	-1,275	-194.1%
Free Cash Flow	-17,834	-18,642	-15,642	-11,535	+26.3%
CFO/OP	-226%	-196%	-128%	-84%	+34.4%

💧 Half-year Cash Flow (latest 1 periods)

Metric	Sep 2026	% Chg
Cash from Operating Activity	-10,858	—
Cash from Investing Activity	-2,933	—
Cash from Financing Activity	18,548	—
Net Cash Flow	4,757	—

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
ROE %	12%	10%	12%	13%	+8.3%

👥 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?