M&M vs MARUTI
Side-by-side comparison of Mahindra & Mahindra Ltd. and Maruti Suzuki India Ltd.. Descriptive only — not investment advice.
Mahindra & Mahindra Ltd.
Auto
Quality Score: 68/100
Maruti Suzuki India Ltd.
Auto
Quality Score: 62/100
At a glance
| Metric | M&M | MARUTI |
|---|---|---|
| Quality Score | 68/100 | 62/100 |
| P/E (trailing) | 20.0 | 28.7 |
| Forward P/E | 19.0 | 21.7 |
| ROE | +18.8% | +14.4% |
| Profit margin | +8.5% | +8.0% |
| Debt-to-equity | 125.07 | 0.10 |
| Dividend yield | +1.09% | +1.05% |
| 1Y price return | +0.6% | +7.5% |
| From 52w high | -20.8% | -22.9% |
| Analyst rating1 = Strong Buy, 5 = Strong Sell | 1.29 | 1.58 |
Highlighted value = better on the metric (lower for P/E, D/E, drawdown, analyst rating; higher elsewhere). Descriptive only.
Snapshots
Mahindra and Mahindra (M&M) is an Indian auto and farm-equipment conglomerate trading at Rs 3,040.5, with a trailing PE of 19.96 — the lowest among its benchmarked auto peers — and a 5-year earnings CAGR of 44.8%. The stock is 11.3% below its 200-DMA and 20.82% off its 52-week high, with near-flat 1-year price change of 0.6% despite strong reported earnings growth. ROE of 18.75% has been above 15% in 4 of the tracked persistence years, while FCF was positive in only 1 year and the debt trend is rising.
Maruti Suzuki (₹13,395) is India's largest passenger vehicle maker by market share, trading above its 50-DMA (₹13,270) but 9.8% below the 200-DMA (₹14,854) and 22.88% off its 52-week high. Trailing PE of 28.7x compares to a forward PE of 21.7x, reflecting market expectations of earnings recovery. Over 5 years, revenue grew 28.2% while earnings declined 6.4%, and ROE of 14.43% sits below all profitable Auto sector peers.
Pros
- ✓Lowest trailing PE (19.96) among 6 benchmarked auto peers (Bajaj Auto 26.9, Eicher 35.2, Maruti 27.9, Bosch 39.6), with a forward PE of 18.99 representing a further modest compression.
- ✓5-year revenue CAGR of 30.9% and earnings CAGR of 44.8% reflect a multi-year expansion of both the UV/SUV portfolio and the farm-equipment segment.
- ✓May 2026 standalone sales of 99,636 units represented 20% YoY growth, with SUV volumes up 11%, indicating continued demand momentum across key segments.
- ✓Exit from CIE Automotive accelerates a stated portfolio streamlining toward core auto and agri businesses, reducing cross-holding complexity.
- ✓Debt-to-equity of 0.096 is near-zero, with a falling debt trend over the review period — balance sheet leverage is minimal relative to Auto sector norms.
- ✓FCF was positive in 4 of the 5 tracked years, and consistency score of 84 reflects above-average financial discipline across the measurement horizon.
- ✓Forward PE of 21.7x is below the trailing PE of 28.7x and below peer Eicher Motors (38.1x) and Bosch (42.8x), indicating the market is pricing in near-term earnings improvement.
- ✓Recent operational catalysts include India's first flex-fuel car launch, Victoris crossing 1 lakh cumulative unit sales, a planned 22% YoY production ramp in FY27, and ₹925 crore committed to green energy by FY31.
Cons
- ✗FCF was positive in only 1 of the tracked persistence years while the debt trend is classified as rising; D/E of 125.07 (including NBFC subsidiary) constrains self-funded capex capacity during concurrent EV and tractor investment cycles.
- ✗Price is 11.3% below the 200-DMA (Rs 3,427) and 2.7% below the 50-DMA (Rs 3,124.1); the stock has spent an extended period below both moving averages with a 52-week drawdown of 20.82%.
- ✗ROE of 18.75% ranks 4th of 6 among benchmarked auto peers, trailing Bajaj Auto (28.05%), Eicher Motors (23.77%), and Bosch (19.35%).
- ✗Profit margin of 8.46% is modest relative to conglomerate scale; quality score of 52 ranks 3rd of 6 in the auto peer group, held back by FCF scarcity and debt trajectory.
- ✗5-year earnings growth of -6.4% against revenue growth of 28.2% indicates that higher revenues have not translated to profit growth over the historical window.
- ✗ROE of 14.43% (2 of 5 years above 15%) is the weakest among profitable Auto peers, which range from M&M at 18.75% to Bajaj Auto at 28.05%.
- ✗Quality score of 31 ranks 5th of 6 peers, with only TMPV (16) scoring lower; the gap to sector leader Eicher Motors (66) and Bajaj Auto (55) is material.
- ✗The stock remains below its 200-DMA (₹14,854) and is 22.88% off the 52-week high, with resistance levels clustering at ₹13,508, ₹13,797, and ₹13,976 above current price.
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For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Comparison reflects current public data; consult a registered adviser before any investment decision.