The Debt to Equity Ratio is a company’s total liabilities divided by its shareholder equity. It's the degree to which a company is financing its operations through debt v/s wholly owned funds

Higher than Industry Debt to Equity Ratio

Current ratio measures a company’s ability to pay short-term obligations. Higher is better

Higher than Industry Current Ratio

A higher-than-industry revenue growth represents increased potential for the company to increase their market share

Lower than Industry Revenue Growth

Market share is the percentage of an industry's total sales going to a particular company. It gives a general idea of the size of a company v/s its competitors

Decreasing Market Share

Net income is equal to net earnings (profit) less expenses. This number is an important measure of how profitable the company is

Lower than Industry Net Income

The EBITDA margin is the percent of revenue that the company retains after incurring all the direct and operational costs of the business

Higher than Industry EBITDA Margin

The net profit margin is net income or profit generated as a percentage of revenue and illustrates how much of each rupee in revenue translates to profit

Higher than Industry Net Profit Margin

Y-o-y growth in the total revenue represents increased potential for the company to increase their market share.Total revenue for the current quarter is compared with the same quarter of previous year to reduce the effects of seasonality

Increasing Total Revenue

Y-o-y growth in the net income represents increased profitability of the company.Net profit for the current quarter is compared with the same quarter of previous year to reduce the effects of seasonality

Increasing Net Profit

Increasing EBITDA margin indicates increased profit efficiency without taking into account financial, accounting or tax implications

Increasing EBITDA Margin

Increasing Net profit margins indicates the increasing profit to the shareholders with each unit of revenue

Constant Net Profit Margin

Y-o-y growth in the EBITDA represents how efficiently the company manages its expenses.EBITDA for the current quarter is compared with the same quarter of previous year to reduce the effects of seasonality

Increasing EBIDTA

Mahindra & Mahindra Limited has informed the Exchange about Investor Presentation

Investor Presentation

Mahindra & Mahindra Limited has informed the Exchange about Investor Presentation being made at the Press/Analyst Meet today

We wish to inform that the Company today participated in B&K Investor Conference (physical)and participated in JP Morgan CEO/CFO Connect (virtual) with Several Funds/Investors andthe Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated30th May, 2022 and which is available at the Weblink:https://www.mahindra.com/resources/investor-reports/FY22/Earnings%20Update/MM-Annual-Analyst-Meet-2022-Presentations-deck-30th-May-2022.pdf was shared with them.

We wish to inform that the Company today virtually participated in Nirmal BangVirtual Investor Conference with Several Funds/Investors and the Presentation(s) whichwas sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 30th May, 2022and which is available at the Weblink: https://www.mahindra.com/resources/investorreports/FY22/Earnings%20Update/MM-Annual-Analyst-Meet-2022-Presentations-deck-30th-May-2022.pdf was shared with them.

We wish to inform that the Company today participated in Morgan Stanley VirtualInvestor Conference & CEO Speaker Session with Several Funds/Investors and thePresentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SECdated 30th May, 2022 and which is available at the Weblink:https://www.mahindra.com/resources/investor-reports/FY22/Earnings%20Update/MMAnnual-Analyst-Meet-2022-Presentations-deck-30th-May-2022.pdf was shared with them.

We wish to inform that the Company today virtually participated in Citi Virtual InvestorConference with Several Funds/Investors and the Presentation(s) which was sent to theStock Exchanges vide letter bearing REF:NS:SEC dated 30th May, 2022 and which isavailable at the Weblink: https://www.mahindra.com/resources/investorreports/FY22/Earnings%20Update/MM-Annual-Analyst-Meet-2022-Presentations-deck-30th-May-2022.pdf was shared with them.

We wish to inform that the Company today virtually participated in Nomura VirtualInvestor Conference with Several Funds/Investors and the Presentation(s) which wassent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 30th May, 2022 andwhich is available at the Weblink:https://www.mahindra.com/resources/investorreports/FY22/Earnings%20Update/MM-Annual-Analyst-Meet-2022-Presentationsdeck-30th-May-2022.pdf was shared with them

We wish to inform that the Company today participated in Auto field Trip through BofaSecurities with Several Funds/Investors and the Presentation(s) which was sent to theStock Exchanges vide letter bearing REF:NS:SEC dated 30th May, 2022 and which isavailable at the Weblink:https://www.mahindra.com/resources/investorreports/FY22/Earnings%20Update/MM-Annual-Analyst-Meet-2022-Presentations-deck-30th-May-2022.pdf was shared with them.

We wish to inform that the Company did a Non-Deal Road Show (NDR) with SeveralFunds/Investors in London/Edinburgh which was scheduled for 13th - 15th June, 2022 andthe Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SECdated 30th May, 2022 and which is available at theWeblink:https://www.mahindra.com/resources/investorreports/FY22/Earnings%20Update/MM-Annual-Analyst-Meet-2022-Presentations-deck-30th-May-2022.pdf was shared with them.In addition to the above, a Presentation was made and shared during the Non-Deal RoadShow, which is attached herewith for your records.The same is also being uploaded on the Company￢ﾀﾙs website and can be accessed at link:https://www.mahindra.com/resources/investorreports/FY23/Events%20Update/Investor-Deck-NDR-June-13-15-2022.pdf

This is further to our letter bearing REF:NS:SEC dated 21st June, 2022 wherein we had givenyou an advance intimation of the upcoming Analyst or Institutional Investor Interactions interms of Regulation 30 read with Schedule III of the Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015.We wish to inform that the Company today has Unveiled Scorpio-N (new product) whichincludes presence of Several Funds/Investors/Analysts in Pune.The Live streaming of the unveiling event is available on the website with the link:https://www.youtube.com/watch?v=NmBtoEy4gMo.The replay of unveiling event would be available for limited period of time on the above link.Further, the recording of the unveiling event would be available on the Company￢ﾀﾙs websitewith the link: https://www.mahindra.com/investors/reports-and-filings under ￢ﾀﾘEventsupdate￢ﾀﾙ

This is further to our letter bearing REF:NS:SEC dated 24th June, 2022 wherein we had given youan advance intimation about the Company participating in a Non-Deal Road Show (NDR) withSeveral Funds/Investors in New York on 28th - 29th June, 2022.In this regard we would like to mention that the Presentation(s) which was sent to the StockExchanges vide letter bearing REF:NS:SEC dated 30th May, 2022 and which is available at theWeblink:https://www.mahindra.com/resources/investorreports/FY22/Earnings%20Update/MM-Annual-Analyst-Meet-2022-Presentations-deck-30th-May-2022.pdf would be made at the NDR.In addition to the above, a Presentation, which is enclosed, would also be made and shared duringthe NDR. The same is also being uploaded on the Company￢ﾀﾙs website and can be accessed at theWeblink:https://www.mahindra.com/resources/investorreports/FY23/Events%20Update/Investor-Deck-NDR-June-28-29-2022.pdf

This is further to our letter bearing REF:NS:SEC dated 24th June, 2022 wherein we had given you anadvance intimation about the Company participating in a Non-Deal Road Show (NDR) with SeveralFunds/Investors in New York on 28th - 29th June, 2022 and our letter 28th June, 2022 wherein theadditional Presentation which was to be made during the NDR was submitted.We wish to inform that the Company did a NDR with Several Funds/Investors in New Yorkscheduled for 28th - 29th June, 2022 and the Presentation(s) which were sent to the Stock Exchangesvide letter bearing REF:NS:SEC dated 30th May, 2022 and vide letter bearing REF:NS:SEC dated 28thJune, 2022 were shared with them.The aforesaid Presentation(s) are also available on the Website of the Company at the Weblinks:https://www.mahindra.com/resources/investor-reports/FY22/Earnings%20Update/MM-Annual-Analyst-Meet-2022-Presentations-deck-30th-May-2022.pdf andhttps://www.mahindra.com/resources/investor-reports/FY23/Events%20Update/Investor-Deck-NDR-June-28-29-2022.pdf.

This is further to our letter bearing REF:NS:SEC dated 7th July, 2022 wherein we hadgiven you an advance intimation of upcoming Media cum Analyst Briefing session onthe new EV Strategic Announcement with Several Funds / Investors /Analysts on 8thJuly, 2022 at Mumbai.In this regard, a Presentation, which is enclosed, would be made and shared duringMedia cum Analyst Briefing session on the new EV Strategic Announcement withSeveral Funds / Investors /Analysts.

We wish to inform that the Company has today conducted Media cum AnalystBriefing session on the new EV Strategic Announcement with Several Funds/Investors/Analysts in Mumbai and the Presentation which was sent to the StockExchanges vide letter bearing REF:NS:SEC dated 8th July, 2022 and which isavailable at the Weblink: https://www.mahindra.com/resources/investorreports/FY23/Events%20Update/Briefing-Session-on-EV-strategic-announcement-Analyst-Meet-8-July.pdf was shared with them

We are attaching herewith a presentation being made at the Press/Analyst Meet today.

We wish to inform you that the Company today physically participated in Emkay InvestorConference in Mumbai with Several Funds/Investors and the Presentation which was sent to theStock Exchanges vide letter bearing REF:NS:SEC dated 5th August, 2022 and which is available atthe Weblink: https://www.mahindra.com/resources/investorreports/FY23/Earnings%20Update/M&M-Q1FY23-Earnings-Call-Presentations-deck-5th-August-2022.pdf was shared with them.Please note that the Company has referred to publicly available documents for discussions at theaforesaid Investor Conference.

This has reference to our earlier intimations dated 7th July, 2022 and 12th August, 2022 regarding:-￢ﾞﾢ Sale/Transfer/Hiving off of identified assets relating to the 4 (Four) Wheel Passenger ElectricVehicles Business of the Company to a new EV company to be incorporated as a wholly ownedsubsidiary of the Company (￢ﾀﾘEVCo￢ﾀﾙ) and￢ﾞﾢ Advance intimation of the upcoming Media/ Institutional Investors Meeting.We wish to inform that the Company has today organized a Global Showcase of Born Electric Visionincluding Showcasing of Future EV Products, in the presence of Media/ Institutional Investors in Banbury,UK.In furtherance of the same, please find enclosed a Press Release (PR) issued by the Company in this regard.The streaming of the Born Electric Vision event would be available at the following link:https://www.youtube.com/watch?v=quOHHVVYWlo for a limited period of time.Further, the recording of the event would be available on the Company￢ﾀﾙs website and can be accessed at thefollowing link: https://www.mahindra.com/investors/reports-and-filings under ￢ﾀﾘEvents update￢ﾀﾙ and2022-23 year drop down.The video and pictures of the products would be available at the following link:https://drive.google.com/drive/folders/14lfioaIUjm3VrcTM4uVtETvdfhrgzLFv?usp=sharing

This is further to our letter bearing REF:NS:SEC dated 15th August, 2022, wherein we had given you an advance intimation about the Company participating in Non-Deal Roadshow (NDR)/Investor Conference in Singapore on 16th - 18th August, 2022.We wish to inform you that the Company did a NDR/Investor Conference with Several Funds/Investors in Singapore scheduled for 16th - 18th August, 2022 and the Presentations which were sent to the Stock Exchanges vide our letters bearing REF:NS:SEC dated 5th August, 2022 and REF:NS:SEC dated 15th August, 2022 were shared with them.

We wish to inform you that the Company today physically participated in Spark Capital InvestorConference with Several Funds/Investors and the Presentation(s) which was sent to the StockExchanges vide letter bearing REF:NS:SEC dated 5th August, 2022 and which is available at theWeblink : https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/M&MQ1FY23-Earnings-Call-Presentations-deck-5th-August-2022.pdf was shared with them.

We wish to inform you that the Company today physically participated in Elara Capital Investors Conference in Mumbai with Several Funds/Investors and the Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 5th August, 2022 and which is available at the Weblink: https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/M&M-Q1FY23-Earnings-Call-Presentations-deck-5th-August-2022.pdf was shared with them.

We wish to inform you that the Company today virtually participated in Citi Virtual Investor Conference in Mumbai with Several Funds/Investors and the Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 5th August, 2022 and which is available at the Weblink : https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/M&M-Q1FY23-Earnings-Call-Presentations-deck-5th-August-2022.pdf was shared with them.

We wish to inform you that the Company today conducted M&M EV Day Event in Mumbai with Analyst/Investors and the Presentation which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 12th September, 2022 was shared with them.The aforesaid Presentation is also available on the Website of the Company at the Weblink: https://www.mahindra.com/resources/investor-reports/FY23/Events%20Update/EV-Day-Strategy-Presentation-for-Investors-12-Sept-2022.pdf

We wish to inform you that the Company today virtually participated in InCred Capital Virtual Investor Conference in Mumbai with Several Funds/Investors and the Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 5th August, 2022 and which is available at the Weblink:https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/M&M-Q1FY23-Earnings-Call-Presentations-deck-5th-August-2022.pdf was shared with them.Please note that the Company has referred to publicly available documents for discussions at the aforesaid Investor Conference.

We wish to inform you that the Company today virtually participated in CLSA Virtual Investor Conference in Mumbai with Several Funds/Investors and the Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 5th August, 2022 and which is available at the Weblink:https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/M&M-Q1FY23-Earnings-Call-Presentations-deck-5th-August-2022.pdf was shared with them.Please note that the Company has referred to publicly available documents for discussions at the aforesaid Investor Conference.

In this regard we would like to mention that the Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 5th August, 2022 and which is available at the Weblink:https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/M&M-Q1FY23-Earnings-Call-Presentations-deck-5th-August-2022.pdf would be made at the Motilal Oswal Investor Conference & CEO track Session to be held today.In addition to the above, a Presentation, which is enclosed, would also be made and shared during the Motilal Oswal Investor Conference & CEO track Session to be held today. The same is also being uploaded on the Company￢ﾀﾙs website and can be accessed at the Weblink: https://www.mahindra.com/resources/investor-reports/FY23/Events%20Update/Investor-Deck-CEO-track-Sep-2022.pdf

We wish to inform you that the Company today participated in Motilal Oswal Investor Conference & CEO Track Session in Mumbai with Several Funds/Investors and the Presentation(s) which were sent to the Stock Exchanges vide letters bearing REF:NS:SEC dated 5th August, 2022 and bearing REF:NS:SEC dated 19th September, 2022 were shared with them.The aforesaid Presentation(s) are also available on the Website of the Company at the Weblinks:https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/M&M-Q1FY23-Earnings-Call-Presentations-deck-5th-August-2022.pdf and https://www.mahindra.com/resources/investor-reports/FY23/Events%20Update/Investor-Deck-CEO-track-Sep-2022.pdf

We wish to inform you that the Company today participated in JP Morgan Investor Conference & Keynote Speech at Delhi with Several Funds/Investors and the Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 5th August, 2022 and which is available at the Weblink:https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/M&M-Q1FY23-Earnings-Call-Presentations-deck-5th-August-2022.pdf was shared with them.

We are enclosing a presentation being made at the Press/Analyst Meet today.

This is further to our letters bearing REF:NS:SEC dated  8th & 9th November, 2022, wherein we had given you an advance intimation of the upcoming Analyst or Institutional Investor Meeting in terms of Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.We wish to inform you that the Company today virtually conducted M&M Q2FY23 Earnings con-call with Several Funds/Investors/Analysts with respect to the Unaudited Standalone and Consolidated Financial Results of the Company for the Second Quarter and Half year ended 30th September, 2022 and the Presentation(s) which were made to them are attached herewith for your records.The same is also being uploaded on the Company￢ﾀﾙs website and can be accessed at the following link :               https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/MM-Q2FY23-Earnings-Call-Presentations-deck-11th-November-2022.pdfFurther, the Audio Recording of the aforesaid Earnings con-call with Several Funds/Investors/ Analysts is available on the Company￢ﾀﾙs website and can be accessed at:https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/AUDIO-MM-Q2FY23-Earnings-Call-11th-Nov-2022-final.mp3

We wish to inform you that the Company today participated in CLSA Investor Conference with Several Funds/Investors in Mumbai and the Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 11th November, 2022 and which is available at the Weblink: https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/MM-Q2FY23-Earnings-Call-Presentations-deck-11th-November-2022.pdf was shared with them

With reference to the captioned subject , we wish to inform you that we have noticed an inadvertent error that has crept in Page Number 26 of the Presentation(s) enclosed to our letters bearing REF:NS:SEC dated 11th November, 2022 wherein the date of XUV.e8 was inadvertently mentioned as ￢ﾀﾜApr 2024￢ﾀﾝ instead of ￢ﾀﾜDec 2024￢ﾀﾝ.A copy of the revised Presentation after rectifying this error is attached and this letter and the revised presentation may kindly be treated as an addendum to our Letters dated 11th November, 2022.

We wish to inform you that the Company participated in Morgan Stanley Investor Conference with Several Funds/Investors in Singapore which was scheduled for 17th - 18th November, 2022 and the Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 11th November, 2022 and which is available at the Weblink:https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/MM-Q2FY23-Earnings-Call-Presentations-deck-11th-November-2022.pdf was shared with them.

We wish to inform you that pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Schedule of Analyst or Institutional Investor Meeting(s) with the Company

We wish to inform you that the Company today participated in Kotak Investor Conference with Several Funds/Investors in Mumbai and the Presentation(s) which was sent to the Stock Exchanges vide letter bearing REF:NS:SEC dated 11th November, 2022 and which is available at the Weblink: https://www.mahindra.com/resources/investor-reports/FY23/Earnings%20Update/MM-Q2FY23-Earnings-Call-Presentations-deck-11th-November-2022.pdf was shared with them

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Mahindra and Mahindra Limited is engaged in the manufacturing of passenger cars, commercial vehicles and tractors.

Mahindra and Mahindra Ltd

Mahindra and Mahindra Ltd

Scorecard

Financial Statements

What is an income statement?

Income Statement

Lower than Industry Revenue Growth
A higher-than-industry revenue growth represents increased potential for the company to increase their market share

Decreasing Market Share
Market share is the percentage of an industry's total sales going to a particular company. It gives a general idea of the size of a company v/s its competitors

Company Updates

Mahindra and Mahindra Ltd

Scorecard

Financial Statements

What is an income statement?

Income Statement

Lower than Industry Revenue GrowthA higher-than-industry revenue growth represents increased potential for the company to increase their market share

Decreasing Market ShareMarket share is the percentage of an industry's total sales going to a particular company. It gives a general idea of the size of a company v/s its competitors

Company Updates

Lower than Industry Revenue Growth
A higher-than-industry revenue growth represents increased potential for the company to increase their market share

Decreasing Market Share
Market share is the percentage of an industry's total sales going to a particular company. It gives a general idea of the size of a company v/s its competitors