₹4,085.2
▼ -9.83 -0.24%
18 Jul 2026
NSE Listed
SML Mahindra Limited (SMLMAH)
Volume: 18,852Avg Vol 1W: 72,064Avg Vol 1M: 80,037.8552W Range:₹2,719₹5,348
Key Ratios
Checked 19h agoMarket Cap₹5,926 Cr
Current Price₹4,085.2
Previous Close₹4,095.03
High / Low (52w)₹5,348 / ₹2,719
Volume18,852
Avg Vol (1W)72,064
Avg Vol (1M)80,037.85
Stock P/E109.32
Book Value₹358.9
Dividend Yield57%
ROE30.76%
ROA11.44%
Revenue (TTM)₹2,846 Cr
Revenue Growth—
Profit Margin5.63%
Total Debt—
Shares Outstanding1 Cr
Face Value₹10
EPS (TTM)₹110.33
P/B11.42
Debt / Equity0.68
50 DMA₹3,921.23
200 DMA₹3,807.41
Day change-0.24%
Price Chart
₹4,085.2▲ 22.42% · 1Y
2025-07-172026-07-16
20-day avg volume: 80K shares
Pros
- Healthy return on equity of 30.8%.
- Pays a dividend yield of 57.0%.
- Company is almost debt-free.
- Revenue grew 22% YoY.
Cons
- Stock trades at a high P/E of 109.
Quarterly Results
| Metric | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹746 Cr | ₹550 Cr | ₹332 Cr | ₹771 Cr | ₹846 Cr | ₹555 Cr | ₹539 Cr | ₹898 Cr |
| EBITDA | ₹70 Cr | ₹34 Cr | ₹8 Cr | ₹80 Cr | ₹95 Cr | ₹31 Cr | ₹29 Cr | ₹80 Cr |
| Net Profit | ₹46 Cr | ₹22 Cr | ₹1 Cr | ₹53 Cr | ₹67 Cr | ₹21 Cr | ₹18 Cr | ₹54 Cr |
| EPS | — | — | — | — | — | — | — | — |
Profit & Loss (Annual)
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,414 Cr | ₹1,159 Cr | ₹596 Cr | ₹930 Cr | ₹1,825 Cr | ₹2,201 Cr | ₹2,405 Cr | ₹2,846 Cr |
| EBITDA | ₹40 Cr | ₹-24 Cr | ₹-110 Cr | ₹-79 Cr | ₹42 Cr | ₹137 Cr | ₹192 Cr | ₹235 Cr |
| Net Profit | ₹20 Cr | ₹-21 Cr | ₹-133 Cr | ₹-100 Cr | ₹20 Cr | ₹108 Cr | ₹122 Cr | ₹160 Cr |
| EPS | 13.53 | -14.55 | -92.24 | -68.94 | 13.71 | 74.54 | 84.08 | 110.39 |
Balance Sheet
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | ₹1,095 Cr | ₹859 Cr | ₹796 Cr | ₹816 Cr | ₹937 Cr | ₹1,213 Cr | ₹1,299 Cr | ₹1,397 Cr |
| Total Liabilities | ₹681 Cr | ₹474 Cr | ₹541 Cr | ₹654 Cr | ₹759 Cr | ₹927 Cr | ₹917 Cr | ₹877 Cr |
| Equity | ₹414 Cr | ₹385 Cr | ₹256 Cr | ₹161 Cr | ₹178 Cr | ₹286 Cr | ₹383 Cr | ₹519 Cr |
| Total Debt | — | — | — | — | — | — | — | — |
Cash Flow
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | ₹-46 Cr | ₹-29 Cr | ₹84 Cr | ₹-48 Cr | ₹178 Cr | ₹209 Cr |
| Investing | ₹-28 Cr | ₹-7 Cr | ₹-42 Cr | ₹-46 Cr | ₹-61 Cr | ₹-66 Cr |
| Financing | ₹60 Cr | ₹17 Cr | ₹-55 Cr | ₹127 Cr | ₹-148 Cr | ₹-89 Cr |
| Free Cash Flow | ₹-46 Cr | ₹-29 Cr | ₹84 Cr | ₹-48 Cr | ₹178 Cr | ₹209 Cr |
Shareholding
Promoter 58.97% Institutions 2.33% Public 38.7%
About SML Mahindra Limited
Automobile · Automobiles - LCVs / HCVs
SML Mahindra Limited manufactures and sells commercial vehicles and related parts in India and internationally. The company's products include trucks and buses. It provides special application, cargo, and passenger vehicles. It offers its products through distributors and dealers. The company was formerly known as SML Isuzu Limited and changed its name to SML Mahindra Limited in October 2025. SML Mahindra Limited was incorporated in 1983 and is based in Mohali, India. As of August 1, 2025, SML Isuzu Limited operates as a subsidiary of Mahindra & Mahindra Limited.
smlmahindra.com ↗Efficiency & Working Capital
ROCE28.4%
Interest Coverage11.3
Dividend Payout—
Debtor Days35 d
Inventory Days85 d
Payable Days52 d
Cash Conversion Cycle68 d
Working Capital Days120 d
Shareholding Details
As of 2026-03-31
Promoter59%
FII0.8%
DII1.6%
Institutions2.3%
Public38.7%
Promoter Pledge0%
No. of Shareholders39,068
Shareholding Pattern
Quarterly — figures in %. Latest 12 quarters.
| Period | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 44% | 44% | 44% | 44% | 44% | 44% | 44% | 44% | 44% | 59% | 59% | 59% |
| FIIs | 15.1% | 15.3% | 15.4% | 15.8% | 15.3% | 15.3% | 15.3% | 15.2% | 15.7% | 1.8% | 0.6% | 0.8% |
| DIIs | 0% | 0% | 0% | 0% | 0.1% | 0% | 0% | 0% | 0.3% | 0.6% | 0.6% | 1.6% |
| Public | 40.9% | 40.8% | 40.6% | 40.2% | 40.6% | 40.6% | 40.7% | 40.8% | 40% | 38.6% | 39.8% | 38.7% |
| Promoter Pledge | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| No. of Shareholders | 24,113 | 24,883 | 25,023 | 25,447 | 27,367 | 29,465 | 29,445 | 29,915 | 28,716 | 37,373 | 36,718 | 39,068 |
Returns History (ROE / ROCE / ROA)
| Period | ROE | ROCE | ROA | P/E |
|---|---|---|---|---|
| 202603 | — | — | — | — |
Major Shareholders (>1%)
| Name | Category | Stake | Shares |
|---|---|---|---|
| Mahindra & Mahindra Limited | Shareholding of Promoter and Promoter Group | 59% | 85,33,726 |
| Sachin Bansal (partner Of Navodaya Enterprises) | Public Shareholding | 4.9% | 7,09,387 |
| Sachin Bansal (partner Of Spv Enterprises) | Public Shareholding | 4.1% | 5,97,152 |
| Sachin Bansal (partner Of Anandam Enterprises) | Public Shareholding | 3.3% | 4,71,000 |
| Vanaja Sundar Iyer | Public Shareholding | 1.8% | 2,55,286 |
| Sspl Securities Private Limited | Public Shareholding | 1% | 1,50,000 |
| Mahindra Steel Service Centre Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra First Choice Wheels Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Gromax Agri Equipment Limited (formerly Known As Mahindra Gujarat Tractor Limited) | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra Agri Solutions Limited (formerly Known As Mahindra Shubhlabh Services Limited) | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra Accelo Limited (formerly Known As Mahindra Intertrade Limited) | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra Holidays & Resorts India Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra Hotels And Residences India Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra Holdings Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Nbs International Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra & Mahindra Financial Services Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra Insurance Brokers Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra Rural Housing Finance Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Bristlecone India Private Limited (formerly Know As Bristlecone India Limited, Name Changed W.e.f. 2 | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra Lifespace Developers Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra Infrastructure Developers Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra World City (jaipur) Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra World City Developers Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Mahindra World City (maharashtra) Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Knowledge Township Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
Promoter Pledges
| Holder | Pledged Shares | % of Holding | As of |
|---|---|---|---|
| Mahindra & Mahindra Limited | 0 | 0% | 2026-03-31 |
| Mahindra Steel Service Centre Limited | 0 | 0% | 2026-03-31 |
| Mahindra First Choice Wheels Limited | 0 | 0% | 2026-03-31 |
| Gromax Agri Equipment Limited (formerly Known As Mahindra Gujarat Tractor Limited) | 0 | 0% | 2026-03-31 |
| Mahindra Agri Solutions Limited (formerly Known As Mahindra Shubhlabh Services Limited) | 0 | 0% | 2026-03-31 |
| Mahindra Accelo Limited (formerly Known As Mahindra Intertrade Limited) | 0 | 0% | 2026-03-31 |
| Mahindra Holidays & Resorts India Limited | 0 | 0% | 2026-03-31 |
| Mahindra Hotels And Residences India Limited | 0 | 0% | 2026-03-31 |
| Mahindra Holdings Limited | 0 | 0% | 2026-03-31 |
| Nbs International Limited | 0 | 0% | 2026-03-31 |
| Mahindra & Mahindra Financial Services Limited | 0 | 0% | 2026-03-31 |
| Mahindra Insurance Brokers Limited | 0 | 0% | 2026-03-31 |
Board of Directors
| Name | Designation | Year |
|---|---|---|
| VINOD KUMAR SAHAY | Chairman / Executive Director / WTD | 2026 |
| C S Verma | Independent Non Exe. Director | 2026 |
| V Ravi | Independent Non Exe. Director | 2026 |
| Arun Malhotra | Independent Non Exe. Director | 2026 |
| SMITA MANKAD | Independent Non Exe. Director | 2026 |
| Mahima Chugh | Non-Exec & Non-Independent Dir | 2026 |
| Parvesh Madan | CS / Compliance Officer / General Manager | 2026 |
Segments — Product
| Segment | Revenue | Share |
|---|---|---|
| Manufacturing of commercial vehicle | ₹0 Cr | — |
Segments — Geography
| Region | Revenue | Share |
|---|---|---|
| Domestic | ₹2,304 Cr | 96% |
| Overseas | ₹95 Cr | 4% |
Capital Structure (₹ Cr)
| Year | Face Value | Authorised | Issued | Paid-up |
|---|---|---|---|---|
| 2026 | ₹10 | 40 | 14 | 14 |
Corporate Actions
| Type | Date | Value | Remark |
|---|---|---|---|
| forthcoming | 2026-07-20 | Board Meetings | — |
| dividend | 2026-07-03 | ₹23.5 (235.0%) | Final |
| dividend | 2026-07-03 | ₹23.5 (235%) | Final |
| dividend | 2025-07-09 | ₹18 (180%) | Final |
Related-Party Transactions (₹ Cr)
| Year | Subsidiaries | Associates | JV | KMP | Others | Total |
|---|---|---|---|---|---|---|
| 2026 | 0 | 0 | 0 | 6 | 0 | 23 |
| 2026 | 0 | 0 | 0 | 6 | 0 | 23 |
| 2026 | 0 | 0 | 0 | 6 | 0 | 23 |
Insider / Designated-Person Trades
3 recent disclosure(s)
Mahindra & Mahindra Limited RevisedAcquisition · 673
Mahindra & Mahindra LimitedAcquisition · 673
Sumitomo CorporationDisposal · 63,62,306
Substantial Acquisitions (SAST)
9 disclosure(s)
Market20/05/2026 · 9,923
Market17/02/2026 · 29,133
Market22/12/2025 · 9,751
Off Market01/08/2025 · 63,62,306
Off Market Transfer01/08/2025 · 85,33,053
Off Market01/08/2025 · 21,70,747
Company Information
Incorporated1983
ChairmanVINOD KUMAR SAHAY
AuditorB S R & Co LLP/Walker Chandiok & Co LLP
Investor Email[email protected]
📍 Village Asron, Shahid Bhagat Singh Nagar(DT), Nawanshahar, Punjab, 144533
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