Mahindra & Mahindra Limited (MAHMF)

Mahindra & Mahindra Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2024	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Operating Revenue	1,282,768	1,226,273	1,086,549	901,706	742,778	753,819
Other Revenue	191,397	183,057	136,223	7,740	8,422	8,047
Revenue	1,474,165	1,409,330	1,222,772	909,446	751,200	761,867
Revenue Growth (YoY)	10.68%	15.26%	34.45%	21.07%	-1.40%	-27.88%
Cost of Revenue	878,263	843,911	747,030	524,451	388,548	388,714
Gross Profit	595,902	565,419	475,742	384,995	362,653	373,153
Selling, General & Admin	123,376	123,027	112,060	97,016	87,653	102,922
Other Operating Expenses	184,061	174,597	150,743	133,410	129,812	130,268
Operating Expenses	355,636	342,986	306,090	265,453	251,136	266,657
Operating Income	240,266	222,433	169,652	119,542	111,517	106,496
Interest Expense	-81,047	-73,340	-56,995	-49,146	-59,904	-58,950
Earnings From Equity Investments	14,011	10,885	14,516	18,558	12,767	10,273
Other Non Operating Income (Expenses)	1,675	1,675	1,215	570.3	790.1	131.9
EBT Excluding Unusual Items	174,906	161,653	128,388	89,524	65,170	57,950
Impairment of Goodwill	-325.2	-325.2	-1,221	-	-1,929	-6,634
Gain (Loss) on Sale of Assets	-	-	-	-	-	846.6
Asset Writedown	-1,550	-1,550	-10,013	-1,286	-12,594	-4,397
Other Unusual Items	-	-	23,449	5,379	2,830	-881.3
Pretax Income	173,030	159,778	140,602	93,618	53,477	46,884
Income Tax Expense	42,942	37,080	26,858	21,088	16,458	19,756
Earnings From Continuing Operations	130,088	122,698	113,745	72,530	37,019	27,128
Earnings From Discontinued Operations	-	-	-	-	-21,895	-30,338
Net Income to Company	130,088	122,698	113,745	72,530	15,124	-3,210
Minority Interest in Earnings	-11,430	-10,012	-10,930	-6,757	3,001	4,480
Net Income	118,658	112,686	102,815	65,773	18,125	1,270
Net Income to Common	118,658	112,686	102,815	65,773	18,125	1,270
Net Income Growth	6.24%	9.60%	56.32%	262.89%	1326.71%	-97.61%
Shares Outstanding (Basic)	1,115	1,114	1,113	1,111	1,109	1,104
Shares Outstanding (Diluted)	1,119	1,119	1,117	1,116	1,114	1,109
Shares Change (YoY)	0.15%	0.13%	0.16%	0.10%	0.48%	1.60%
EPS (Basic)	106.44	101.14	92.41	59.20	16.34	1.15
EPS (Diluted)	105.98	100.70	91.96	58.83	16.15	1.04
EPS Growth	6.12%	9.51%	56.31%	264.30%	1457.72%	-97.87%
Free Cash Flow	-133,975	-155,759	-133,786	32,078	106,666	-83,530
Free Cash Flow Per Share	-119.68	-139.23	-119.74	28.76	95.72	-75.32
Dividend Per Share	-	21.100	16.250	11.550	8.750	2.350
Dividend Growth	-	29.85%	40.69%	32.00%	272.34%	-72.35%
Gross Margin	40.42%	40.12%	38.91%	42.33%	48.28%	48.98%
Operating Margin	16.30%	15.78%	13.87%	13.14%	14.85%	13.98%
Profit Margin	8.05%	8.00%	8.41%	7.23%	2.41%	0.17%
Free Cash Flow Margin	-9.09%	-11.05%	-10.94%	3.53%	14.20%	-10.96%
EBITDA	268,167	247,497	194,402	140,422	131,066	136,418
EBITDA Margin	18.19%	17.56%	15.90%	15.44%	17.45%	17.91%
D&A For EBITDA	27,901	25,065	24,750	20,880	19,549	29,923
EBIT	240,266	222,433	169,652	119,542	111,517	106,496
EBIT Margin	16.30%	15.78%	13.87%	13.14%	14.85%	13.98%
Effective Tax Rate	24.82%	23.21%	19.10%	22.53%	30.78%	42.14%
Revenue as Reported	1,477,382	1,412,547	1,225,289	911,051	753,109	764,106
Advertising Expenses	-	13,123	12,043	10,429	7,193	17,848

Source: S&P Capital IQ. Standard template. Financial Sources.