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MAHINDRA & MAHINDRA
PE (Price/Earnings) Ratio

The Current P/E Ratio of MAHINDRA & MAHINDRA is 32.44.

Share Price ₹3,602.9Dec 19,2025
Market Cap ₹448,020.6 Cr
Earnings-TTM₹13,812.6 CrTTM-Consolidated Results
Price/Earnings32.44xCalculated as Market Cap/Earnings
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Definition & Calculation of PE (Price/Earnings) ratio of MAHINDRA & MAHINDRA

Price-to-Earnings ratio, P/E Multiple, or P/E Ratio is an important valuation multiple that is defined as:

P/E = Market Capitalization / Net Income

or, using per-share numbers:

P/E = Stock Price / Earnings Per Share (EPS)

Applying the above formula, P/E ratio of MAHINDRA & MAHINDRA is calculated as :

Current Market Cap [ ₹448,020.6 Cr] as on Dec 19,2025

(/) Earnings [ ₹13,812.6 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 32.44x ]

P/E Ratio indicates the multiple of earnings investors are willing to pay to own one share of the company.

Thus, for MAHINDRA & MAHINDRA , the investors are currently willing to pay 32.44 times earnings to own 1 share of the company.

PE Multiples are the most widely used valuation multiple in practice.

Since P/E ratio uses Net Income in the calculation, P/E multiples are not always reliable for valuing companies with negative earnings.

In such cases, you may consider using Price to Book ratio or Price to Sales ratio of MAHINDRA & MAHINDRA !

P/E ratios, also, would not adjust for differences in the capital structure between companies.

The chart below summarizes the trend in P/E Ratio of MAHINDRA & MAHINDRA over the last five years.

Historical PE (Price/Earnings) ratio chart of MAHINDRA & MAHINDRA


PE Ratio Performance Analysis for MAHINDRA & MAHINDRA

- MAHINDRA & MAHINDRA 's latest p/e ratio is 32.44x.

- MAHINDRA & MAHINDRA 's p/e ratio for fiscal years ending Mar2025 to Mar2021 averaged 23.38x.

- MAHINDRA & MAHINDRA 's operated at median p/e ratio of 19.01x from fiscal years ending March 2018 to 2022.

- Looking back at the last 5 fiscal years, MAHINDRA & MAHINDRA 's p/e ratio peaked in Mar2021 at 48.71x.

- MAHINDRA & MAHINDRA 's p/e ratio hit its five-year low in Mar2023 of 12.55x.


How does MAHINDRA & MAHINDRA 's P/E Ratio benchmark against top 10 peers in Automobiles - Passenger Cars Industry?

Peer Comparison (Automobiles - Passenger Cars Industry)Earnings-TTM (Cr)PE RatioMarket Cap
MAHINDRA & MAHINDRA 13,812.6032.44448,020.6
MARUTI SUZUKI INDIA LTD14,537.6035.52516,413.0
MERCURY EVTECH LTD9.0880.65732.5

Automobiles - Passenger Cars Industry Benchmark (Top 10) PE Analysis vs MAHINDRA & MAHINDRA 's P/E Ratio

Top 10 Industry PeersPE Ratio
Min industry PE 32.44x
Max industry PE 80.65x
Median industry PE 35.52x
Average industry PE 49.54x



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