Is Mahindra & Mahindra (M&M) Halal?
Shariah Screening — 5 Standards
Based on financial data from March 2025
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | 31.2% / 30% | 10.5% / 30% | 2.1% / 30% | 0.8% / 5% | ✗ NOT HALAL |
| DJIM | 31.2% / 33% | 10.5% / 33% | 2.1% / 33% | 0.8% / 5% | ✓ HALAL |
| MSCI | 45.0% / 33% | 15.1% / 33% | 3.0% / 33% | 0.8% / 5% | ✗ NOT HALAL |
| S&P | 31.2% / 33% | 10.5% / 33% | 2.1% / 33% | 0.8% / 5% | ✓ HALAL |
| FTSE | 45.0% / 33% | 15.1% / 33% | 3.0% / 50% | 0.8% / 5% | ✗ NOT HALAL |
Financial Highlights
Profitability
| Gross Margin | 38.9% | |
| Operating Margin | 16.7% | |
| Net Margin | 8.3% |
Cash Flow & Balance Sheet
| Operating Cash Flow | $31.8B |
| Free Cash Flow | -$72.2B |
| Total Debt | $1.2T |
| Debt-to-Equity | 132.3 |
| Total Assets | $2.8T |
Price & Trading
| Last Close | INR 3,128.10 |
| 50-Day MA | INR 3,364.49 |
| 200-Day MA | INR 3,454.02 |
| Avg Volume | 2.7M |
| Beta | 0.3 |
|
52-Week Range
INR 2,425.00
| |
About Mahindra & Mahindra (M&M)
Mahindra & Mahindra Limited provides mobility products and farm solutions in India and internationally. It operates through five segments: Automotive; Farm Equipment; Auto Investments; Farm Investments; and Investments in Industrial Businesses and Consumer Services. The company offers commercial vehicles, trucks, buses, vans, passenger cars, utility vehicles, and electric vehicles (EV), as well as motorcycles; aero and defense products; offers construction equipment, such as rotaries, tillers, loaders, and backhoes under the Mahindra EarthMaster brand; and road construction equipment comprising motor graders under the Mahindra RoadMaster brand. It is also involved in the provision of farm equipment, including tractors under the Mahindra, Swaraj, and Trakstar brands, as well as farm mechanization solutions, such as rotavators, cultivators, harvesters, rice transplanters, balers, sprayers, and implements and attachments; and renewable energy business comprising installation of EV chargers and provision of Li-ion batteries. In addition, the company offers financial services, such as fixed deposits, retail and other loans, leasing, SME finance, housing finance, mutual funds, and life and non-life insurance broking services, as well as vehicle and equipment financing; provides logistics services; power backup solutions, including diesel and gas generators; and technology services comprising business process, integrated engineering, infrastructure and cloud, network, application development and maintenance, supply chain digital transformation, and design services. Further, it engages in the sale of timeshare and vacation ownership through its resorts; develops and sells residential properties, and engages in the development, management, and operation of commercial complexes; and processing and trading of steel for automotive, non-automotive, and power industries. The company has a strategic partnership with Embraer S.A. for the development of C-390 Millennium multi-mission military transport aircraft in India. The company was incorporated in 1945 and is headquartered in Mumbai, India.
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Frequently Asked Questions
Is Mahindra & Mahindra (M&M) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), Mahindra & Mahindra is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is Mahindra & Mahindra's debt ratio?
Mahindra & Mahindra's debt ratio is 31.2% under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%. Under MSCI and FTSE (which use total assets as the denominator), the debt ratio is 45.0%.
What are Mahindra & Mahindra's key financial metrics?
Mahindra & Mahindra has a market capitalization of $3.7T, trailing P/E ratio of 21.8, and revenue of $1.6T. The company maintains a gross margin of 38.9% and a net margin of 8.3%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.