Mahindra and Mahindra Financial Services Limited is a non-banking finance company (NBFC). It was established in 1991 and operates as a rural and semi-rural NBFC based in Mumbai.
M&M Finance is a subsidiary of the Mahindra Group. The company was incorporated as Maxi Motors Financial Services Limited in 1991. It received its certificate of business commencement the same year. In 1992, the company changed its name to Mahindra and Mahindra Financial Services Limited in 1992.
As on March 31, 2023, the promoters hold 52% shares in the company whereas FIIs, DIIs, and Public hold 15%, 25%, and 8% shares respectively.
The market capitalisation of the company is over ₹33,300 crore as of January 11, 2024. M&M Finance share price has gained over 45% in the last three years.
Business operations
M&M Finance has business operations in over 380,000 villages in India and more than 7,000 towns fall within its reach. It has a customer base exceeding 9 million in India.
The company has a diverse product portfolio. It offers various services including vehicle loans for utility vehicles, commercial vehicles, tractors, cars, two-wheelers and used vehicles. It also provides refinancing, housing finance, SME financing, personal loans, fixed deposits, mutual fund distribution, insurance broking, loans against gold and construction equipment loans.
M&M Finance also offers pre-owned vehicle financing for cars, commercial vehicles and tractors. The company's insurance broking segment provides insurance solutions to both retail customers and corporations through its subsidiary, Mahindra Insurance Brokers Limited.
The company offers its services to customers in the United States for buying Mahindra Group products through Mahindra Finance USA LLC. It also provides international services through its subsidiary Mahindra Ideal Finance Limited in Sri Lanka.
M&M Finance established a partnership with Singapore's Manulife Investment Management to venture into the mutual fund business in 2020. It also joined forces with Ideal Finance Limited to extend its financial services into Sri Lanka in the same year.
M&M Finance has a network of 600 branches across India. It operates through 1,386 regular branches in India and 527 smart branches. The smart branches are designed with minimal infrastructure and a smaller staff size compared to the regular branches. The company operates in multiple markets with a presence in 27 states domestically, along with 7 Union Territories. Its international presence extends to 2 countries.
The company has many subsidiaries which include Mahindra Insurance Brokers Limited (MIBL) and Mahindra Rural Housing Finance Limited (MRHFL). MIBL provides 3,600 insurance solutions and on the other hand, MRHFL is India’s largest rural housing finance company.
M&M Financial Services Financial Highlights
- Revenue: M&M Financial Services reported revenue of ₹21,005.37 crore in FY26 vs ₹18,463.10 crore in FY25. It showed an increase of 13.77% on a yearly basis.
- Operating Profit: M&M Financial Services reported an operating profit of ₹3,825.90 crore in FY26 vs ₹3,026.91 crore in FY25. It showed an increase of 26.40% on a year-on-year basis.
- Net Profit: M&M Financial Services reported a net profit of ₹2,861.11 crore in FY26 vs ₹2,260.87 crore in FY25. It showed an increase of 26.55% on a yearly basis.
M&M Financial Services Quarterly Result Highlights
- M&M Financial Services reported revenue of ₹5,717.91 crore in Jun 2026, compared with ₹5,538.73 crore in Mar 2026, representing an increase of 3.24% on a quarter-on-quarter (QoQ) basis.
- M&M Financial Services reported an operating profit of ₹1,242.22 crore in Jun 2026, compared with ₹1,259.07 crore in Mar 2026, representing a decrease of 1.34% on a quarter-on-quarter (QoQ) basis.
- M&M Financial Services reported a profit of ₹927.48 crore in Jun 2026, compared with ₹940.48 crore in Mar 2026, reflecting a decrease of 1.38% on a QoQ basis.
- The earnings per share (EPS) of M&M Financial Services stood at ₹20.88 during Jun 2026.
Data Source: BSE, Company announcements
Securities shown are illustrative, not recommendations. Past performance does not guarantee future results.
