Mahindra & Mahindra Ltd
NSE: M&M BSE: 500520
₹3379.30
(0.46)%
Mon, 02 Feb 2026, 06:10 am
Market Cap4268.04B
PE Ratio26.74
Dividend0.74
Consumer Durables
Motor Vehicles
24.5Kmahindramahindra ltd History
1945
- Company incorporated.
- Began manufacturing Jeep vehicles under license from Willys Motors Inc.; acted as exclusive distributors.
1955
- Converted to Public Limited Company at Mumbai.
1958
- Entered agreement with Birfield Ltd. to form Mahindra Sintered Products Private Limited.
1968
- Instrumentation & Electronics Division formed by merger of Mahindra Engineering Co.
- Acquired whole paid-up capital of Mahindra Electro-Chemicals Products Ltd.
- Merged wholly-owned subsidiary Mahindra Engineering Co. effective 1st April.
1970
- Changed name to Mahindra & Mahindra Ltd.
1977
- Allotted preference and equity shares on merger with International Tractor Co.
- Merged International Tractor Company effective 1st November.
- Merged with Indian National Diesel Engine Co. during 1977-78.
1978
- Started negotiations with Balania K. Zacharopoulos for Jeep manufacture in Greece.
1979
- Issued 57,22,764 bonus equity shares 1:1.
1983
- Issued 76,30,352 bonus equity shares 2:3.
1984
- Mahindra Spicer Ltd. amalgamated; allotted 1,88,166 shares.
- Entered collaboration with Foramer S.A. for offshore rig; obtained ONGC order.
1985
- Obtained letter of intent for 50,000 EPABX/PAXs with OKI Electric.
- Signed MOU with British Telecom for telecom opportunities.
- MBT became subsidiary with 60% holding; BT subscribed 40%.
1987
- Received approval for Peugeot 504 pick-up manufacture.
- Introduced M-595 tractor.
1988
- Acquired offshore drilling rig Ile d' Amsterdam.
- Received letter of intent for land rig from ONGC.
1989
- Introduced improved CJ 500 jeeps, FJ LCVs, and sporty jeep model.
- Acquired automotive pressing unit at Kanhe from Guest Keen Williams.
1990
- Introduced MDI 2500 A engine and 10-seater vehicle.
- Received ONGC contract extension for rig.
- Issued 48,16,012 convertible debentures/bonds on rights basis.
- Issued debentures/bonds to Mahindra Companies and IFC.
- Issued debentures/bonds to employees.
- Allotted 49,90,354 debentures and 26,20,371 bonds.
- Allotted Rs 20 crore 14% redeemable NCDs.
1991
- Launched XDP 4.90 diesel engine replacement kits.
- Introduced Commander vehicles and Armada.
- Introduced 225 DI tractor.
- Allotted 8,64,049 zero interest bonds to Peugeot India Holding.
- Converted debentures and bonds into 49,90,354 and 34,84,420 equity shares.
- Issued Rs 25 crore 14% NCDs to Infrastructure Leasing.
1992
- Proposed new LCV with larger platform.
- Issued 72,42,719 14.5% NCDs with warrants; 3,62,136 to employees.
1993
- Planned mini bus, MM Deluxe, Armada deluxe, Cabking, CL-Classic pick-ups.
- Mahindra Nissan Allwyn Ltd. amalgamated effective 1st November; allotted 9,73,200 shares.
- Issued 100,47,043 GDRs valued at US $74.75 million.
1994
- Established Mahindra USA Inc. in Texas.
- Allotted 9,73,200 shares to MNAL shareholders; 11,14,682 against warrants; 35,85,874 to Ford; 28,00,000 to promoter group.
1995
- Launched Cabking DI 3150 LCV; Mahindra Classic 4WD; Commander 5-Door Hard Top.
- Launched 365 DI and 585 DI tractors.
- Entered JV with Ford for passenger vehicles company.
- Allotted 22,71,322 equity shares on warrant conversion; issued 407,17,489 bonus shares 2:3.
- Tractor division received ISO 9001 certification.
1996
- Proposed Armada Grand with XD3 diesel engine.
- Launched soft top, FRP versions of CL/MM 550; 8-seater Armada; Commander 650 DI; MM 540/550 XDB.
- Offered $100 million 5% convertible notes into GDRs; 15,73,830 shares issued.
1997
- Zaheerabad plant and R&D division awarded ISO 9002 and 9001 certifications.
- Undertook manufacture of vehicle body dies with Fuji Technica technology; introduced 7 new models.
- Introduced 275 DI TU and 585-C, 585 DI tractors.
- Setting up engineering and product development centre at Thane.
- Signed JV agreement with Mondragon Corporation for iron foundry.
- Entering 50:50 JV with Case for high horsepower tractors.
- M&M-Sealand JV considering Ro-Ro railway service.
- Tied up with Sega and Mitsubishi for family entertainment centres JV.
- Signed agreement with Chemoleums for Mahindra Singlestar lubricating oil.
- Signed wage agreement at Kandivali automotive plant introducing MPS.
1998
- Promoted JV with Infrastructure Leasing, Tidco for industrial park near Chennai.
- Signed productivity wage agreement at Kandivali tractor plant.
- Signed new productivity agreements at Kandivli, Nashik, Zaheerabad plants.
- Mahindra Ford likely to sign MoU for auto kits.
- Mercedes-Benz India and Mahindra Ford signed MoU with DGFT.
- Maersk, M&M, Tidco proposed JV for Colachel hub port.
- Planned 50:50 JV with Punjab government for agro-commodity exchange.
1999
- Set up Mahindra Auto Specialities Ltd for bullet-proofing vehicles; signed MoU with Plasan Sasa.
- Floated JV with TVS group for auto software solutions.
- Planned Mitsubishi models including Pajero.
- Created tier-IT structure under Mahindra Holdings & Financial Ltd.
- Entered three-wheeler market with diesel-driven eight-seater.
2000
- Planned launch of first CNG-powered utility vehicle in Delhi.
- Kandivli tractor plant faced illegal strike.
- Proposed redemption of US $25.378 million bonds.
- Tied up with Citibank for dealer financing.
- Launched eight-seater Marshal DI Deluxe 2000.
- Mahindra Auto Specialities delivered first Neticle Quadro.
- Launched Arjun 605 DI tractor.
- Signed agreement with Renault for Scorpio engines.
- Launched voluntary scheme for tractor division employees.
- Planned launch of 2.5-litre Bolero.
- Launched 39 HP and 40 HP Bhoomi Putra tractors.
- Entered technical alliance with AVL List GmbH for LCVs.
- Planned LCV launch under Loadking name.
- Launched Bolero GLX.
- Planned Scorpio launch.
- Launched Arjun 605 DI in Andhra Pradesh.
- Planned diesel Bolero.
- Planned expansion for new models including Scorpio.
- Planned agricultural implements.
- Launched new generation tractors.
- Launched fourth portal business with $1 million investment.
- Mahindra Intertrade launched steelmartindia.com.
- Fitch assigned Ind AAA rating to Rs 100-crore debenture programme.
- Board approved ESOS and allotted shares to Employee Stock Option Trust.
2001
- Set up Mahindra Shubh Labh farm extension services.
- Mahindra Intertrade entered distribution alliance with Lego.
- Anand G. Mahindra appointed Vice-Chairman and Managing Director.
- Planned three new Bolero variants.
- Nashik plant strike called off.
- Long-term debentures rating revised to AAA.
- Tied up with Renault for Scorpio petrol engines.
- Launched premium Bolero GLX.
2002
- ICICI Bank withdrew nomination of Mr. Inder Chand Jain as director.
- Appointed Mr. David Friedman and Mr. V.K. Chanana as directors.
2003
- Unleashed MaXX Pik-Up utility vehicle.
- Signed agreement with Canara Bank for tractor loans.
- Showcased Bolero XL and XLS in Karnataka.
2004
- Delisted shares from DSE and Pune Stock Exchange.
- Launched Bolero variants in TN.
- Rajeev Dubey joined as Executive VP Human Resources.
- Launched Bolero XL range.
- Entered agreement for majority stake in Bristlecone Inc.
- Delisted equity shares from Madras Stock Exchange.
- Tied up with Barchinkar for tractors in Iran.
- Accord with Castrol.
- Rolled out India's first turbo tractor.
- HSBC Global Investment Fund acquired equity shares.
- Andhra Bank joined for tractor financing.
- Opened assembly line in Uruguay.
- Forayed into South African automobile market.
- Hemant Luthra to head MSAT Sector.
- Dena Bank inked MoU for tractor loans.
2005
- US top dealer became largest tractor dealer.
- Forayed into Australian tractor market.
- Launched CRDe fitted Scorpio conforming to BS III norms.
- Executed JV agreement with Renault.
- Unveiled Scorpio in Malaysia.
- Inked MoU with Renault for Rs 550 crore car plant in Nashik.
- Introduced new pick-up vehicle.
- Unveiled 3-wheeler cargo carrier Champion Alfa.
- Inked JV with International Truck & Engine Corporation.
- Entered agreement with Plexion Technologies, Mauritius.
- Signed MOU with Saigal family for tractor exports to Pakistan.
- Issued bonus shares in 1:1 ratio.
2006
- Unleashed Scorpio Pik-Up in South Africa.
- Unveiled three-wheeler car.
- Hingna unit entered new wage agreement.
- Signed agreement with ITMCo for tractors in Iran.
- Joined hands with Renault for passenger car plant.
- Inked deal with Global Vehicles USA Inc.
2007
- Acquired German Forging Company Schoneweiss & Co. GmbH.
- Unveiled new Bolero in Gujarat.
- Launched SUVs and pick-up trucks for US market from 2009.
- Unveiled Mahindra Pik-Up in Australia.
- Unveiled Axe FAV defence vehicle.
2008
- Acquired Italian design house GRD Italy.
2009
- Unveiled fourth generation Scorpio.
- Signed MOU with State Bank of Bikaner and Jaipur for vehicle finance.
- Launched luxury sedan Xylo.
- Entered retail space with Mom & Me.
- Sold 1,788 Xylos in two weeks.
- Received order for 15,000 Xylo in three months.
2010
- Hiked product prices by up to Rs 18,000.
- Bidder for majority stake in Ssangyong Motor Company.
- Entered heavy commercial vehicle segment with Navistar Inc.
- Launched mini-truck Maxximo.
- Tied up with Mitsubishi Agricultural Machinery.
- Mahindra Tractors sold one-lakh tractors.
- Mahindra Finance launched loan against gold in Kerala.
- Mahindra FirstChoice tied up with TVS group.
- Split face value of shares from Rs 10 to Rs 5.
2011
- Launched Genio pick-up.
- Entered Micro Irrigation Business.
- Mahindra Satyam signed ERP contract with Omran.
- Signed strategic alliance with Cisco Systems.
- Completed acquisition of majority stake in SsangYong Motor Company.
- Dr. Pawan Goenka appointed Chairman of SsangYong Motor Company.
- Launched Verito.
- Launched New Bolero SUV.
- Launched XUV500 SUV.
2012
- Planned assembly plant and Rs 800 crore investment for Ssangyong.
- Won arbitration award and class action suit against Global Vehicles.
- Entered Kenyan passenger vehicles market with XUV500, Scorpio, Genio, and Maxximo.
- Signed agreement with Telephonics for Mahindra-Telephonics Integrated Systems JV.
- Mahindra Ugine inked JV with Sanyo Special Steel and Mitsui as Mahindra Sanyo Special Steel Pvt Ltd.
2013
- Inked partnership with Snapdeal.com for two-wheelers.
- Launched new visual identity.
- Launched Verito Executive edition.
- Launched MPOWER training program at IIM Ahmedabad.
- Unveiled Maxximo Plus Mini-truck in Bengaluru and Chennai.
- Expanded dealership network.
- Launched Bolero Maxi Truck Plus in Ahmedabad.
- Mahindra Two Wheelers won 3 awards at CMO Asia Manufacturing Excellence Awards.
2014
- Introduced 'Yoga Seats' in Quanto Compact SUV.
- Signed MoU with Government of Bhutan for electric vehicles.
- Mahindra Defence Naval Systems inaugurated Chakan plant.
- Mahindra Integrated Business Solutions signed MoU with CARE Advisory.
- Mahindra Logistics acquired majority stake in LORDS Freight India Pvt. Ltd.
- Planned launch of global scooter GUSTO.
2015
- Mahindra Two Wheelers and Peugeot Motorcycles completed strategic partnership.
- Inaugurated extended automotive manufacturing facility at Zaheerabad.
- Entered strategic partnership with Mitsubishi Heavy Industries in agricultural machinery.
- Launched mini-truck Jeeto.
- Set up Africa-focused business unit.
- Launched New Thar CRDe.
- Signed MOU with Government of Tamil Nadu.
- Launched TUV300 SUV.
- Announced start of strategic partnership with Mitsubishi Agricultural Machinery.
- Introduced automatic transmission for XUV500.
- Acquired Pininfarina S.p.A.
2016
- Inaugurated Bio-CNG plant in Mahindra World City, Chennai.
- Launched Premium Pick up Imperio.
- Launched KUV100 at Rs 4.42 lakh.
- Launched new mHawk diesel engine variant.
- Mahindra Powerol launched 125kVA diesel generators.
- Entered Global Combine Harvester Business.
- Launched new range of 5 Agri Specialist Tractors Mahindra YUVO.
- Launched electric car in other European markets.
- Launched New Bolero with mHAWK D70 engine.
- Launched eSupro, India’s first all-electric cargo and passenger van.
- Opened spare parts warehouse in Jaipur.
2017
- Introduced DiGiSENSE in Arjun Novo.
- Launched new product variants.
- KUV100 crossed 50K cumulative sales.
- Launched first driverless tractor.
- Partnered with Uber for electric vehicle deployment.
- Issued bonus shares in 1:1 ratio.
2018
- Mahindra Electric launched VR drive experience for e2oPlus.
- Mahindra Aero added Botswana’s Major Blue Air as customer for 10-seater turboprop aircraft.
- Launched new off-road vehicle ROXOR.
- Launched new tractor platform.
- Bolero sales reached 10 lakh units.
- Reported best ever tractor sales in 2017-18.
- Joined Rs 1-trillion market cap club.
- Launched XUV500 variant.
- Launched TUV300 Plus at Rs 9.59 lakh.
2019
- Launched HerDrive campaign.
- Launched eight-seater Marazzo variant.
- Launched e-mobility service in Mumbai.
2020
- XUV300 received 5-star adult safety rating in Global NCAP test.
- Launched locally assembled Scorpio pick-up vehicle in Kenya.
- Launched Marazzo with BS-VI powertrain at Rs 11.25 lakh.
- Launched new potato planting machinery in select states.
- Mahindra Electric launched cargo 3-wheeler Treo Zor.
2021
- Tech Mahindra ranked amongst 2021 Global 100 Most Sustainable Corporations.
- Mahindra Lifespace Developers tied up with SBI for home loan approvals.
2022
- Entered e-cart segment with launch of Electric 3-wheeler e Alfa Cargo.
- Announced strategic partnership with Hero Electric in electric mobility.
- Overall auto sales jumped 89% year-on-year in February to 54,455 vehicles.
2023
- Acquired stake in Emergent Solren Private Limited.
- Received approval for merger by absorption of Mahindra Heavy Engines Limited, Mahindra Two Wheelers Limited, and Trringo.com Limited.
- Launched new Compact Light Weight Tractor Range 'Swaraj Target'.
- Announced plans to scale up electric three-wheelers and small commercial vehicles.
2024
- Informed exchange about scheme of merger by absorption of Mahindra Heavy Engines Limited, Mahindra Two Wheelers Limited, and Trringo.com Limited with Mahindra & Mahindra Limited.
- Signed MOU with Ministry of Skill Development and Entrepreneurship for Drone Didi Yojna pilots.
- Conducted pilots at NSTI Hyderabad and Noida to skill 500 women.
- Update on scheme of merger by absorption of Mahindra Heavy Engines Limited, Mahindra Two Wheelers Limited, and Trringo.com Limited.
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