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MAHINDRA & MAHINDRA
PE (Price/Earnings) Ratio

The Current P/E Ratio of MAHINDRA & MAHINDRA is 22.97.

Share Price ₹3,396.4Jul 31,2026
Market Cap ₹422,336.1 Cr
Earnings-TTM₹18,388.4 CrTTM-Consolidated Results
Price/Earnings22.97xCalculated 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 [ ₹422,336.1 Cr] as on Jul 31,2026

(/) Earnings [ ₹18,388.4 Cr] based on TTM-Consolidated Results

(=) P/E Ratio [ 22.97x ]

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 22.97 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 22.97x.

- MAHINDRA & MAHINDRA 's p/e ratio for fiscal years ending Mar2026 to Mar2022 averaged 17.50x.

- 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 Mar2025 at 23.02x.

- 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 18,388.4022.97422,336.1
MARUTI SUZUKI INDIA LTD13,986.3032.01447,690.0
HYUNDAI MOTOR INDIA LTD4,950.9135.81177,296.0
TATA MOTORS PASSENGER VEHICLES LTD-443.00-282.45125,126.0
MERCURY EVTECH LTD5.55120.00666.2

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

Top 10 Industry PeersPE Ratio
Min industry PE -282.45x
Max industry PE 120.00x
Median industry PE 32.01x
Average industry PE -14.33x



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