Mahindra & Mahindra Balance Sheet

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Cash & Equivalents	222,654	49,239	45,301	34,934	34,876	33,746
Short-Term Investments	162,016	189,545	109,726	121,249	101,633	125,986
Trading Asset Securities	-	171,909	95,752	108,399	90,417	74,591
Cash & Short-Term Investments	384,669	410,693	250,778	264,582	226,926	234,323
Cash Growth	27.15%	63.77%	-5.22%	16.59%	-3.16%	58.85%
Accounts Receivable	95,416	85,402	76,874	71,989	65,238	60,948
Other Receivables	-	25,508	13,427	8,785	8,117	6,924
Receivables	603,095	557,358	480,902	427,621	365,778	358,674
Inventory	245,885	203,309	185,905	168,550	115,958	96,154
Restricted Cash	-	429.8	387.6	442.4	317.6	335.9
Other Current Assets	111,869	93,943	64,684	52,059	42,501	31,892
Total Current Assets	1,345,518	1,265,733	982,656	913,254	751,480	721,379
Property, Plant & Equipment	304,483	294,874	248,699	215,740	249,384	220,893
Long-Term Investments	201,258	197,067	241,045	230,185	203,181	188,859
Goodwill	25,330	23,739	24,484	25,489	13,404	13,049
Other Intangible Assets	114,609	52,495	51,036	32,214	40,846	38,350
Long-Term Accounts Receivable	2,243	2,565	2,872	2,896	3,138	3,750
Long-Term Deferred Tax Assets	16,182	15,731	15,790	16,155	17,243	17,173
Long-Term Deferred Charges	-	65,761	44,922	44,742	30,283	26,769
Other Long-Term Assets	107,345	61,824	73,666	50,516	43,676	50,277
Total Assets	2,929,300	2,775,863	2,363,007	2,058,918	1,741,128	1,664,625
Accounts Payable	346,219	308,553	256,656	238,357	190,366	155,058
Accrued Expenses	-	65,576	55,800	53,007	45,183	42,212
Short-Term Debt	-	81,931	109,296	90,722	53,696	46,466
Current Portion of Long-Term Debt	458,646	336,545	245,752	248,088	207,661	206,550
Current Portion of Leases	6,800	6,062	6,084	5,973	5,055	5,383
Current Income Taxes Payable	13,745	7,197	5,425	6,160	3,920	4,388
Current Unearned Revenue	-	51,679	36,615	27,486	23,226	19,611
Other Current Liabilities	172,566	45,677	39,828	36,001	33,777	34,793
Total Current Liabilities	997,977	903,220	755,457	705,794	562,883	514,460
Long-Term Debt	798,469	838,973	700,758	555,587	487,686	529,203
Long-Term Leases	33,742	31,701	28,139	28,825	24,326	21,282
Long-Term Unearned Revenue	62,415	61,918	59,465	55,253	52,499	47,660
Pension & Post-Retirement Benefits	-	10,446	9,654	11,933	10,219	11,875
Long-Term Deferred Tax Liabilities	20,440	19,121	17,721	16,086	17,861	14,942
Other Long-Term Liabilities	35,342	19,504	16,720	14,618	17,402	18,681
Total Liabilities	1,948,385	1,884,883	1,587,914	1,388,097	1,172,875	1,158,103
Common Stock	5,584	5,582	5,574	5,568	5,561	5,552
Additional Paid-In Capital	-	29,328	28,249	27,455	26,495	25,351
Retained Earnings	-	731,188	625,797	528,615	436,333	380,062
Comprehensive Income & Other	822,860	4,291	2,286	2,020	2,838	4,855
Total Common Equity	828,444	770,389	661,906	563,658	471,226	415,819
Minority Interest	152,471	120,591	113,188	107,163	97,026	90,703
Shareholders' Equity	980,915	890,980	775,093	670,821	568,253	506,522
Total Liabilities & Equity	2,929,300	2,775,863	2,363,007	2,058,918	1,741,128	1,664,625
Total Debt	1,297,657	1,295,212	1,090,029	929,196	778,424	808,884
Net Cash (Debt)	-912,988	-884,520	-839,250	-664,614	-551,498	-574,561
Net Cash Per Share	-813.68	-789.94	-750.16	-594.83	-494.38	-515.59
Filing Date Shares Outstanding	1,117	1,116	1,115	1,114	1,112	1,110
Total Common Shares Outstanding	1,117	1,116	1,115	1,114	1,112	1,110
Working Capital	347,541	362,513	227,200	207,460	188,597	206,919
Book Value Per Share	741.99	690.12	593.76	506.14	423.71	374.51
Tangible Book Value	688,505	694,155	586,386	505,955	416,976	364,420
Tangible Book Value Per Share	616.66	621.83	526.01	454.32	374.93	328.22
Land	-	13,121	13,071	12,422	11,683	10,282
Buildings	-	79,427	70,561	67,474	65,317	57,273
Machinery	-	351,692	295,513	269,727	283,322	241,483
Construction In Progress	-	36,526	34,613	12,227	30,361	44,776
Leasehold Improvements	-	801.7	697	-	-	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.