SMLMAH · SML Mahindra Ltd · Auto & Truck Manufacturers
SMLMAH · SML Mahindra Ltd · Auto & Truck Manufacturers
As of 05 Nov close
52-week range
27.3% below 52-week high
52-week range: as of 05 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old
Revenue (latest Q)
₹958 Cr
Revenue YoY
PAT YoY
-5.0%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
19.8
P/S (TTM)
3.2
Sector P/E
28.6
Dividend yield
+0.4%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| SMLMAH (this stock) | 37.9 | 19.8 | +5.3% | +30.1% | 0.56 | +0.4% |
| Maruti Suzuki India | 31 | 3.6 | +7.3% | +13.4% | 0 | +1.1% |
| Eicher Motors | 33.6 | 8.8 | +23.1% | +23.0% | 0.02 | +1.1% |
| Hyundai Motor India | 31.3 | 8.7 | +7.0% | +24.7% | 0.05 | +1.0% |
Promoter
stable
FII
rising 2q
MF
0.79% (+0.67pp)
rising 1q
Insider trades
No insider trades in the last 12 months.
Bulk/block deals
| canonicalSymbol | date | buy quantity | buyer count | deal strength | deal types present |
|---|---|---|---|---|---|
| SMLMAH | 2026-07-31 | 81294 | 1 | WEAK | BULK |
News timeline
- loweconomictimes.indiatimes.com· 21 Oct 2026, 06:00 amStocks in news: Reliance Industries, Eternal, IREDA, Yes Bank, Trent and Hindustan Zinc
- lowbusiness-standard.com· 03 Sept 2026, 02:44 pmSML Mahindra shares rally 8% on August sales; eyes 12% market share by FY31
Concalls & investor presentations
AI-generatedKey takeaway: SML Mahindra Limited held its first earnings call since the acquisition by Mahindra in August 2025. Management reported an 18% revenue increase and a 31% rise in profit after tax (PAT) for FY 2026, outpacing industry growth. The company aims to be among the top three players in India's intermediate and light commercial vehicle (ILCV) segment. Management highlighted successful integration efforts, including product development and supply chain management, while noting challenges from geopolitical issues affecting the supply chain. The company also discussed its plans for electric buses and the importance of hydrogen fuel cells for heavy trucks. Management confirmed that SML would not be delisted and emphasized a cautious approach to merging operations. The call concluded with a commitment to future growth and innovation in product offerings, leveraging Mahindra's capabilities.
Management emphasized strong growth and successful integration efforts.
Sourced from an exchange-filed transcript, dated 24 Apr 2026. Summary is RedixFi-generated and distinct from investment advice.
AI Summary of Annual Report
AI-generatedSML Mahindra Limited (SMLMAH) reported a strong recovery in the domestic commercial vehicle (CV) industry in FY2025-26, with a 12.6% growth in total volumes to 1,079,871 vehicles. The company changed its name from SML Isuzu Limited to SML Mahindra Limited in alignment with its new promoter and branding strategy. The company has no subsidiaries, joint ventures, or associate companies. Internal financial controls were found to be adequate, with no material weaknesses identified. The company has implemented robust internal controls, including SAP ERP systems, and has a comprehensive whistle-blower policy. There were no significant regulatory actions, defaults, or liquidity issues noted during the year.
- 12.6% growth in domestic commercial vehicle industry in FY2025-26 with total volumes reaching 1,079,871 vehicles.
- Company name changed from SML Isuzu Limited to SML Mahindra Limited in alignment with new promoter and branding strategy.
- No subsidiaries, joint ventures, or associate companies.
- Adequate internal financial controls with no material weaknesses identified.
- Robust internal controls including SAP ERP systems and comprehensive whistle-blower policy.
Key takeaway: SML Mahindra Limited demonstrated strong performance in the commercial vehicle industry with a notable growth rate, robust internal controls, and no significant regulatory or liquidity issues, indicating a stable and well-managed company.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
Default / Covenant Breach (1 item)
Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.
Default / Covenant Breach
1 occurrenceEarlier (1-3 years ago)
The company has slight delays in depositing some undisputed statutory dues, though no amounts were outstanding for more than six months. There are disputes over some dues pending before the Punjab & Haryana High Court.
Routine disclosures
Contingent Liability
3 occurrencesRecent (last 12 months)
The company has contingent liabilities mentioned in Notes 2 (f), 2 (g), 18 A, 18 B, and 31, which relate to provisions for warranties, contingencies, and contingent liabilities.
Earlier (1-3 years ago)
The company has contingent liabilities related to claims not acknowledged as debts, with future cash outflows determinable only upon receipt of judgments or decisions from pending forums or authorities.
The company has provisions and contingent liabilities discussed in Notes 2 (g), 18 (A), 18 (B), and 31, which involve key assumptions about the likelihood and magnitude of an outflow of resources.
Related-Party Transaction
3 occurrencesRecent (last 12 months)
The company has transactions with related parties including Navodya Enterprises, SPV Traders, Anandam Enterprises, Sapna Gupta, and Sachin Bansal, who are shareholders holding 10% or more shares in the company. These transactions include the purchase of components and spares, dividend paid, availment of services, and reimbursement made to parties.
Earlier (1-3 years ago)
Promoter shareholder Sumitomo Corporation and public shareholder Isuzu Motors sold 43.96% and 15% of the company's equity shares to Mahindra & Mahindra Limited. Additionally, Mahindra & Mahindra announced an open offer to acquire up to 26% of the company's equity shares.
The company had transactions with related parties, including a corporate guarantee charge of Rs. 7,700 lakhs and Rs. 20,000 lakhs from Controlling Enterprise against working capital loan facilities sanctioned by MUFG Bank Ltd. and Mizuho Bank Ltd., respectively.
Statutory dues in dispute
1 occurrenceEarlier (1-3 years ago)
The company has statutory dues under the Income-tax Act,1961 that are disputed and pending before various forums including the Punjab & Haryana High Court and Commissioner of Income Tax (Appeals), with amounts paid under protest and relating to different fiscal years.
Management & Board Governance
1 occurrenceEarlier (1-3 years ago)
Mr. Junya Yamanishi ceased to be the Managing Director of SML Isuzu Limited effective 16 April 2025. Mr. Yasushi Nishikawa was appointed as Managing Director effective 17 April 2025.
Promoter Share Pledge
1 occurrenceRecent (last 12 months)
11.48% of promoter holding pledged (quarter 2026-Q3 as of 2026-07-18).