Mahindra & Mahindra Financial Services Limited

NSEI:M&MFIN Stock Report

Market Cap: ₹326.1b

Mahindra & Mahindra Financial Services Valuation

Is M&MFIN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of M&MFIN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: M&MFIN (₹264.1) is trading above our estimate of fair value (₹130.57)

Significantly Below Fair Value: M&MFIN is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for M&MFIN?

Key metric: As M&MFIN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for M&MFIN. This is calculated by dividing M&MFIN's market cap by their current earnings.
What is M&MFIN's PE Ratio?
PE Ratio15x
Earnings₹21.80b
Market Cap₹326.10b

Price to Earnings Ratio vs Peers

How does M&MFIN's PE Ratio compare to its peers?

The above table shows the PE ratio for M&MFIN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.4x
CHOLAHLDNG Cholamandalam Financial Holdings
13.1xn/a₹269.7b
FIVESTAR Five-Star Business Finance
24.1x16.1%₹234.3b
SUNDARMFIN Sundaram Finance
29.5x13.0%₹461.7b
531213 Manappuram Finance
7.1x11.5%₹159.9b
M&MFIN Mahindra & Mahindra Financial Services
15x17.0%₹326.1b

Price-To-Earnings vs Peers: M&MFIN is good value based on its Price-To-Earnings Ratio (15x) compared to the peer average (18.4x).

Price to Earnings Ratio vs Industry

How does M&MFIN's PE Ratio compare vs other companies in the IN Consumer Finance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
523384 Maha Rashtra Apex
0.6xn/aUS$24.55m
No more companies available in this PE range
M&MFIN 15.0xIndustry Avg. 22.8xNo. of Companies13PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: M&MFIN is good value based on its Price-To-Earnings Ratio (15x) compared to the Indian Consumer Finance industry average (22.8x).

Price to Earnings Ratio vs Fair Ratio

What is M&MFIN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

M&MFIN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15x
Fair PE Ratio21.6x

Price-To-Earnings vs Fair Ratio: M&MFIN is good value based on its Price-To-Earnings Ratio (15x) compared to the estimated Fair Price-To-Earnings Ratio (21.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst M&MFIN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹264.10
₹301.88
+14.3%
10.5%₹360.00₹235.00n/a34
Dec ’25₹273.40
₹303.06
+10.8%
10.7%₹360.00₹235.00n/a34
Nov ’25₹273.40
₹304.09
+11.2%
11.0%₹360.00₹235.00n/a34
Oct ’25₹330.10
₹307.88
-6.7%
12.0%₹380.00₹229.00n/a34
Sep ’25₹314.35
₹302.94
-3.6%
11.7%₹350.00₹229.00n/a35
Aug ’25₹306.45
₹301.71
-1.5%
11.7%₹350.00₹229.00n/a35
Jul ’25₹306.60
₹294.32
-4.0%
12.5%₹355.00₹233.00n/a34
Jun ’25₹267.60
₹293.29
+9.6%
11.6%₹352.00₹233.00n/a34
May ’25₹261.15
₹303.84
+16.3%
12.2%₹360.00₹240.00n/a32
Apr ’25₹286.95
₹304.00
+5.9%
11.4%₹360.00₹235.00n/a33
Mar ’25₹287.75
₹302.79
+5.2%
11.7%₹360.00₹235.00n/a33
Feb ’25₹284.55
₹302.72
+6.4%
11.9%₹360.00₹235.00n/a32
Jan ’25₹275.20
₹298.88
+8.6%
12.7%₹360.00₹218.00n/a33
Dec ’24₹273.65
₹298.32
+9.0%
12.6%₹360.00₹218.00₹273.4034
Nov ’24₹246.90
₹298.26
+20.8%
12.4%₹360.00₹218.00₹273.4035
Oct ’24₹301.35
₹318.76
+5.8%
11.0%₹368.00₹220.00₹330.1034
Sep ’24₹299.15
₹316.61
+5.8%
10.9%₹368.00₹220.00₹314.3533
Aug ’24₹295.85
₹317.13
+7.2%
11.2%₹370.00₹220.00₹306.4532
Jul ’24₹336.45
₹294.83
-12.4%
13.1%₹360.00₹215.00₹306.6029
Jun ’24₹294.05
₹288.83
-1.8%
12.2%₹350.00₹215.00₹267.6030
May ’24₹259.00
₹279.31
+7.8%
13.0%₹350.00₹210.00₹261.1529
Apr ’24₹231.65
₹268.45
+15.9%
16.7%₹350.00₹166.00₹286.9529
Mar ’24₹255.10
₹263.21
+3.2%
16.4%₹350.00₹166.00₹287.7528
Feb ’24₹233.85
₹233.72
-0.05%
15.7%₹315.00₹160.00₹284.5529
Jan ’24₹234.60
₹229.34
-2.2%
15.0%₹315.00₹160.00₹275.2029
Dec ’23₹220.30
₹227.61
+3.3%
14.9%₹315.00₹160.00₹273.6528

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/30 17:55
End of Day Share Price 2024/12/30 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

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 .

Analyst Sources

Mahindra & Mahindra Financial Services Limited is covered by 73 analysts. 29 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Raghav GargAmbit Capital
Kaitav ShahAnand Rathi Shares and Stock Brokers Limited
null nullAsian Markets Securities Private Limited