Mahindra & Mahindra Financial Services Management
Management criteria checks 2/4
Mahindra & Mahindra Financial Services' CEO is Raul Rebello, appointed in Apr 2024, has a tenure of 2.08 years. total yearly compensation is ₹39.50M, comprised of 25.3% salary and 74.7% bonuses, including company stock and options. directly owns 0% of the company’s shares, worth ₹133.43K. The average tenure of the management team and the board of directors is 1.2 years and 3 years respectively.
Key information
Raul Rebello
Chief executive officer
₹39.5m
Total compensation
| CEO salary percentage | 25.32% |
| CEO tenure | 2.1yrs |
| CEO ownership | 0.00003% |
| Management average tenure | 1.2yrs |
| Board average tenure | 3yrs |
Recent management updates
Recent updates
Narrative Update • May 10
M&MFIN: Dividend Timeline And Tweaked Assumptions Will Shape Balanced Outlook
Analysts have trimmed their price target on Mahindra & Mahindra Financial Services by about ₹12.55 to ₹348, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E multiples. What's in the News Mahindra & Mahindra Financial Services declared an annual dividend of ₹7.50 per share, with payment scheduled for August 20, 2026, and an ex date and record date of July 13, 2026 (Key Developments).Analysis Article • Apr 26
Mahindra & Mahindra Financial Services (NSE:M&MFIN) Ticks All The Boxes When It Comes To Earnings Growth
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Narrative Update • Apr 21
M&MFIN: Undervalued View Will Hinge On Forthcoming Board Dividend Decision
Analysts have trimmed their price target on Mahindra & Mahindra Financial Services to about ₹361 from around ₹370, reflecting slightly updated assumptions on fair value, discount rate, growth, margins and future P/E multiples. What's in the News A board meeting has been scheduled on Apr 24, 2026 to consider and approve audited standalone and consolidated financial results for the fourth quarter and full year ended Mar 31, 2026 (Key Developments).Narrative Update • Apr 06
M&MFIN: Undervalued Case Will Rely On Upcoming Board And RSU Decisions
Analysts have trimmed their price target on Mahindra & Mahindra Financial Services to about ₹370 from roughly ₹376, citing slightly revised assumptions for fair value, discount rate and forward P/E, while keeping revenue growth and profit margin expectations largely in line with earlier estimates. What's in the News Shareholders are scheduled to vote via postal ballot on 7 February 2026 on appointing Ms. Padmaja Chunduru as an Independent Director for a five year term from 10 November 2025 to 9 November 2030, not liable to retire by rotation (company filing).Narrative Update • Mar 23
M&MFIN: Undervalued Outlook Will Hinge On Upcoming Board And Governance Decisions
Analysts have inched their consolidated price target for Mahindra & Mahindra Financial Services slightly lower from ₹377.00 to about ₹376.47, reflecting updated assumptions around discount rate, profit margin and forward P/E multiples, while keeping revenue growth expectations broadly aligned with earlier views. What's in the News The board has scheduled a meeting for Jan 28, 2026 at 14:00 IST to review and approve unaudited standalone and consolidated financial results for the third quarter and nine months ended Dec 31, 2025, subject to limited review by joint statutory auditors, and to consider other matters (company filing).Narrative Update • Mar 08
M&MFIN: Stable Outlook Will Rely On Upcoming Board And Governance Decisions
Analysts have kept their fair value estimate for Mahindra & Mahindra Financial Services steady at ₹377.00, with only minor tweaks to assumptions such as the discount rate, revenue growth, profit margin, and future P/E helping to refine, rather than materially shift, their overall price target view. What's in the News A board meeting is scheduled for Jan 28, 2026 to consider and approve unaudited standalone and consolidated financial results for the third quarter and nine months ended Dec 31, 2025, along with other matters (company filing).Narrative Update • Feb 21
M&MFIN: Board Changes And New Equity Plan Will Shape Balanced Outlook
Analysts have slightly raised their price target for Mahindra & Mahindra Financial Services from ₹375.36 to ₹377.00. They cite updated fair value analysis that incorporates marginal adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions.Narrative Update • Feb 06
M&MFIN: Governance Appointments And New Equity Plan Will Shape A Balanced Outlook
Analysts have lifted their price target for Mahindra & Mahindra Financial Services from ₹342.50 to about ₹375.36, citing updated assumptions around revenue growth, profit margins, the discount rate, and future P/E expectations. What's in the News A special shareholders meeting is scheduled via postal ballot on Feb 7, 2026, to vote on appointing Ms. Padmaja Chunduru as an Independent Director for a five-year term from Nov 10, 2025, to Nov 9, 2030, not liable to retire by rotation (company filing).Narrative Update • Jan 22
M&MFIN: Joint Venture And Governance Moves Will Support A Balanced Outlook
Analysts have nudged their price target for Mahindra & Mahindra Financial Services from ₹335.78 to ₹342.50, reflecting updated assumptions on discount rate, revenue growth, profit margin and future P/E that they view as better aligned with current projections. What's in the News A board meeting is scheduled for Nov 12, 2025, to consider entering into a joint venture agreement with Manulife to form a life insurance company in India, subject to regulatory approvals and the conditions in the joint venture agreement (Key Developments).Narrative Update • Jan 06
M&MFIN: Joint Venture Plans And Board Changes Will Mask Overvaluation
Analysts have raised their price target for Mahindra & Mahindra Financial Services to ₹335.78 from ₹325.31, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples in their models. What's in the News A board meeting is scheduled on January 28, 2026 to consider and approve unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025, subject to limited review by the joint statutory auditors (company filing).Narrative Update • Dec 15
M&MFIN: Joint Venture And Board Changes Will Shape A Balanced Outlook
Analysts have modestly raised their price target on Mahindra & Mahindra Financial Services, lifting the fair value estimate by about Rs 4 to approximately Rs 325 per share. This reflects slightly lower perceived risk and sustained expectations for robust revenue growth, resilient profit margins, and a marginally higher future valuation multiple.Narrative Update • Dec 01
M&MFIN: Upcoming Joint Venture Agreement Is Likely To Weigh On Valuation
Analysts have raised their price target for Mahindra & Mahindra Financial Services from ₹309.69 to ₹321.09. They cite slightly higher projected revenue growth and profit margins as key factors behind the upward adjustment.Narrative Update • Nov 17
M&MFIN: Joint Venture Prospects And Steady Outlook Will Shape Upcoming Performance
Narrative Update on Mahindra & Mahindra Financial Services: Analyst Price Target Revision Analysts have maintained their fair value estimate for Mahindra & Mahindra Financial Services at ₹309.69. Recent recalibrations to the discount rate and future price-to-earnings assumptions did not materially impact the overall valuation.Analysis Article • Nov 11
Mahindra & Mahindra Financial Services Limited (NSE:M&MFIN) Looks Inexpensive But Perhaps Not Attractive Enough
When close to half the companies in India have price-to-earnings ratios (or "P/E's") above 28x, you may consider...Narrative Update • Nov 01
M&MFIN: Future Earnings Will Reflect Improved Margins And Revenue Momentum
Analysts have raised their price target for Mahindra & Mahindra Financial Services from ₹290.25 to ₹309.69, citing slightly stronger projected revenue growth and improved profit margins as key drivers of the revision. What's in the News The Board of Directors will meet on October 28, 2025 at 16:05 IST to consider and approve unaudited standalone and consolidated financial results for the second quarter and half year ended September 30, 2025 (Board Meeting).Narrative Update • Oct 17
Rural Growth And Digital Transformation Will Expand Market Reach
Analysts have slightly raised their price target for Mahindra & Mahindra Financial Services to ₹290.25. They cite improved growth projections and a stable profitability outlook as key drivers of the upward revision.Narrative Update • Oct 03
Rural Growth And Digital Transformation Will Expand Market Reach
Mahindra & Mahindra Financial Services' analyst price target has been revised downward from ₹304.44 to ₹290.16, as analysts cite slight adjustments to growth estimates and valuation metrics. These changes reflect updated outlooks on revenue growth and profitability.Narrative Update • Sep 16
Rural Growth And Digital Transformation Will Expand Market Reach
The increase in Mahindra & Mahindra Financial Services’ analyst price target to ₹304.44 reflects an improved valuation despite stable future P/E and discount rate metrics. What's in the News Analyst/Investor Day event conducted.Analysis Article • Jun 27
Mahindra & Mahindra Financial Services (NSE:M&MFIN) Will Pay A Larger Dividend Than Last Year At ₹6.50
Mahindra & Mahindra Financial Services Limited ( NSE:M&MFIN ) has announced that it will be increasing its dividend...Analysis Article • Jun 10
Mahindra & Mahindra Financial Services' (NSE:M&MFIN) Shareholders Will Receive A Bigger Dividend Than Last Year
Mahindra & Mahindra Financial Services Limited's ( NSE:M&MFIN ) dividend will be increasing from last year's payment of...Analysis Article • May 09
Mahindra & Mahindra Financial Services' (NSE:M&MFIN) Upcoming Dividend Will Be Larger Than Last Year's
Mahindra & Mahindra Financial Services Limited's ( NSE:M&MFIN ) dividend will be increasing from last year's payment of...Analysis Article • Apr 25
Mahindra & Mahindra Financial Services' (NSE:M&MFIN) Dividend Will Be Increased To ₹6.50
The board of Mahindra & Mahindra Financial Services Limited ( NSE:M&MFIN ) has announced that it will be paying its...Analysis Article • Apr 10
Little Excitement Around Mahindra & Mahindra Financial Services Limited's (NSE:M&MFIN) Earnings
When close to half the companies in India have price-to-earnings ratios (or "P/E's") above 25x, you may consider...Analysis Article • Jan 20
Does Mahindra & Mahindra Financial Services (NSE:M&MFIN) Deserve A Spot On Your Watchlist?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
New Narrative • Dec 19
Decisive Co-Lending With SBI And Diversification Into Mortgages And Insurance Will Enhance Net Margins And Drive Robust Earnings Growth
Efforts to improve asset quality and operational efficiency are poised to enhance margins and bolster earnings.Analysis Article • Sep 16
Earnings Working Against Mahindra & Mahindra Financial Services Limited's (NSE:M&MFIN) Share Price
When close to half the companies in India have price-to-earnings ratios (or "P/E's") above 35x, you may consider...Analysis Article • Jul 04
Mahindra & Mahindra Financial Services (NSE:M&MFIN) Has Announced That It Will Be Increasing Its Dividend To ₹6.30
Mahindra & Mahindra Financial Services Limited's ( NSE:M&MFIN ) dividend will be increasing from last year's payment of...Analysis Article • Jun 20
Mahindra & Mahindra Financial Services' (NSE:M&MFIN) Shareholders Will Receive A Bigger Dividend Than Last Year
Mahindra & Mahindra Financial Services Limited ( NSE:M&MFIN ) has announced that it will be increasing its dividend...Analysis Article • Jun 06
Mahindra & Mahindra Financial Services (NSE:M&MFIN) Will Pay A Larger Dividend Than Last Year At ₹6.30
Mahindra & Mahindra Financial Services Limited ( NSE:M&MFIN ) has announced that it will be increasing its dividend...Analysis Article • May 23
Mahindra & Mahindra Financial Services (NSE:M&MFIN) Is Increasing Its Dividend To ₹6.30
Mahindra & Mahindra Financial Services Limited ( NSE:M&MFIN ) will increase its dividend from last year's comparable...Analysis Article • May 09
Mahindra & Mahindra Financial Services (NSE:M&MFIN) Has Announced That It Will Be Increasing Its Dividend To ₹6.30
Mahindra & Mahindra Financial Services Limited's ( NSE:M&MFIN ) periodic dividend will be increasing on the 22nd of...Analysis Article • Jul 19
Mahindra & Mahindra Financial Services' (NSE:M&MFIN) Upcoming Dividend Will Be Larger Than Last Year's
Mahindra & Mahindra Financial Services Limited's ( NSE:M&MFIN ) dividend will be increasing from last year's payment of...Analysis Article • Jul 05
Mahindra & Mahindra Financial Services' (NSE:M&MFIN) Dividend Will Be Increased To ₹6.00
Mahindra & Mahindra Financial Services Limited ( NSE:M&MFIN ) has announced that it will be increasing its dividend...Analysis Article • Jun 21
Mahindra & Mahindra Financial Services' (NSE:M&MFIN) Shareholders Will Receive A Bigger Dividend Than Last Year
Mahindra & Mahindra Financial Services Limited ( NSE:M&MFIN ) will increase its dividend from last year's comparable...Analysis Article • May 29
Mahindra & Mahindra Financial Services' (NSE:M&MFIN) Dividend Will Be Increased To ₹6.00
Mahindra & Mahindra Financial Services Limited ( NSE:M&MFIN ) will increase its dividend from last year's comparable...Analysis Article • May 15
Mahindra & Mahindra Financial Services (NSE:M&MFIN) Has Announced That It Will Be Increasing Its Dividend To ₹6.00
Mahindra & Mahindra Financial Services Limited ( NSE:M&MFIN ) has announced that it will be increasing its dividend...Analysis Article • May 01
Mahindra & Mahindra Financial Services' (NSE:M&MFIN) Dividend Will Be Increased To ₹6.00
Mahindra & Mahindra Financial Services Limited's ( NSE:M&MFIN ) dividend will be increasing from last year's payment of...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | ₹29b |
| Dec 31 2025 | n/a | n/a | ₹24b |
| Sep 30 2025 | n/a | n/a | ₹25b |
| Jun 30 2025 | n/a | n/a | ₹23b |
| Mar 31 2025 | ₹40m | ₹10m | ₹23b |
| Dec 31 2024 | n/a | n/a | ₹25b |
| Sep 30 2024 | n/a | n/a | ₹22b |
| Jun 30 2024 | n/a | n/a | ₹21b |
| Mar 31 2024 | ₹39m | ₹8m | ₹19b |
Compensation vs Market: Raul's total compensation ($USD412.89K) is below average for companies of similar size in the Indian market ($USD664.78K).
Compensation vs Earnings: Raul's compensation has been consistent with company performance over the past year.
CEO
Raul Rebello (47 yo)
2.1yrs
Tenure
₹39,500,000
Compensation
Mr. Raul Ignatius Rebello serves as a Director in the Board of Directors at Mahindra Manulife Investment Management Pvt. Ltd. He is Non-Executive Non-Independent Chairman since January 20, 2025 and was Add...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Executive Director | 2.1yrs | ₹39.50m | 0.000030% ₹ 133.4k | |
| Chief Financial Officer of Financial Services Sector | 1.2yrs | no data | no data | |
| Chief Operating Officer | less than a year | no data | no data | |
| Chief Compliance Officer | 1.8yrs | no data | no data | |
| Chief Legal Officer | less than a year | no data | no data | |
| Head of Marketing and Corporate Communication | 1.2yrs | no data | no data | |
| Chief Human Resource Officer of Financial Services Sector | 2.8yrs | no data | no data | |
| Executive VP & Group Chief Technology Officer - Mahindra Group | no data | no data | no data | |
| Head of IT Function & Chief Digital Officer of Financial Services Sector | no data | no data | no data | |
| Chief Risk Officer of Financial Services Sector | 1.8yrs | no data | no data | |
| Chief Business Officer – Mortgages | less than a year | no data | no data | |
| Chief Executive Officer of AI Division - Mahindra & Mahindra Ltd. | 1.3yrs | no data | no data |
1.2yrs
Average Tenure
Experienced Management: M&MFIN's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Executive Director | 3yrs | ₹39.50m | 0.000030% ₹ 133.4k | |
| Independent Director | 7.1yrs | ₹10.50m | no data | |
| Independent Director | 2yrs | ₹4.40m | no data | |
| Independent Director | 3.3yrs | ₹10.00m | no data | |
| Non-Executive Non-Independent Director | less than a year | no data | no data | |
| Non-Executive Chairman | 10.2yrs | no data | no data | |
| Independent Director | 1.3yrs | no data | no data | |
| Independent Director | 5.2yrs | ₹9.00m | no data | |
| Non-Executive Non-Independent Director | 2.8yrs | no data | no data | |
| Non-Executive Non-Independent Director | 2.9yrs | ₹7.30m | no data |
3.0yrs
Average Tenure
60yo
Average Age
Experienced Board: M&MFIN's board of directors are not considered experienced ( 3 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/14 12:35 |
| End of Day Share Price | 2026/05/14 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Mahindra & Mahindra Financial Services Limited is covered by 52 analysts. 28 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Pradeep Agrawal | 360 ONE Capital Market Private Limited |
| Raghav Garg | Ambit Capital |
| null null | Anand Rathi Shares and Stock Brokers Limited |