Mahindra & Mahindra Limited (M&M.NS) stock analysis
In our weekly check, Mahindra & Mahindra Limited is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 17 pass, warnings: 4, red flags: 4.
About Mahindra & Mahindra Limited
Mahindra & Mahindra Limited is a Consumer Cyclical company (Auto - Manufacturers) based in India, listed on NSE as M&M.NS.
What our checks show for M&M.NS
Red flags
- Operating profit does not cover the interest bill (0x): interest is paid from cash or new debt.
- The gross margin fell by 5.1 points, to 35.9%: costs are rising faster than prices.
- The dividend takes 1566% of profit: little cushion if profit falls.
- The stock has fallen as much as 75% from a peak. Would you have held through that?
Warning signs
- Net debt is 3.2x a year of EBITDA (debt/equity 1.47). That limits room in a downturn and raises refinancing risk.
- Analysts expect only about 2.1% a year of growth in revenue.
- The net margin is only 8.9%: little room if costs rise.
- Free cash flow is only 2.4% of revenue.
Strengths
- The net margin rose by 1.4 points over 5 years, to 8.9%.
- Revenue grew 17.5% a year over the last 3 years.
- Earnings per share grew 18.3% a year over the last 3 years.
- Net profit grew 18.5% a year over the last 3 years.
- A large company: market value $36.19 billion.
- Beta 0.34: the stock usually moves less than the market.
Next earnings report: 2026-11-04
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Questions
What grade does Mahindra & Mahindra Limited (M&M.NS) have?
In our weekly check, Mahindra & Mahindra Limited is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 17 pass, warnings: 4, red flags: 4. The grade is a risk check, not a buy or sell recommendation.
What are the main risks of M&M.NS stock?
This week's biggest flags for Mahindra & Mahindra Limited: Weak interest cover, Gross margin falling, Dividend stretched. In total 8 of 25 checks show a warning or a red flag.
What does Mahindra & Mahindra Limited do?
Mahindra & Mahindra Limited is a Consumer Cyclical company (Auto - Manufacturers) based in India, listed on NSE as M&M.NS.
When does Mahindra & Mahindra Limited report earnings next?
The next earnings report is expected on 2026-11-04. We re-run the checks every week, so the grade can change after it.
The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.
Updated 2026-10-24
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