SML Mahindra Limited·COMMERCIAL VEHICLE 34.83·Agricultural, Commercial & Construction Vehicles Companies

2026-10-22 NSE BSE Web 10% Result 19 Oct

Price

4,951

-10%
O:5200
H:5200
L:4951
C:4951

52W Range

27496898.5
+80%/-28%

Market Cap

₹7,164.91 Cr

Traded: ₹164.71 Cr (2.30%) 0.0x

Free Float: ₹2,635.97 Cr (6.25% of FF traded)

Volume · 60D trend

3.28 L 0.0x

Delivery: % 0.0x

View Delivery Data

Returns

1W:+0% 1M:-21% 3M:-4% 6M:+23% 12M:+2%

RS Score

SEEM
NOUS
BNF
SMA Score

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Valuation

P/E48.7
P/B12.8
P/S2.3
EV/EBIT1.0

Business Strength

ROE0.0%
ROCE-17.6%
OPM9.8%
NPM5.6%

Growth (3Y CAGR)

EPS+31.3%
Sales+16.0%
Profit+100.0%
3Y Return+52.0%

Balance Sheet

Debt/Equity0.5
Debt280 Cr
Pledge0.0%
CWIP/Fixed Asset6.4%

Cash Position

CFO/NP97.5%
FCF86.1 Cr
FCF 3Y Avg115 Cr
Cash/MCap--

Others

Div Yield0.0%
Div Payout21.0%
Cash Conv. Cycle78 days
Tradeable Free Float36.8%
SMLMAH4,951 -10.00% NSEBSE10% 19 Oct
NOUS
BNF
MCap7.2K Cr
Vol3.28 L
RVol
Del%
TVal164.71 Cr
RS
SEEM

MTF Exposure Trend

60 sessions · funded amount, % of FF, daily delta

Current
₹ 98.77 Cr
3.75% FF
60d high
₹ 135.68 Cr
60d low
₹ 91.81 Cr
60d mean
₹ 109.74 Cr
vs mean
▼ 9.99%

Growth Trends

Metric10Y5Y3Y1YTTMTrend
Sales
+9.0%
+37.0%
+16.0%
--
+18.0%
Stable
ROE
+7.0%
+22.0%
+38.0%
--
--
Accelerating
Return
+14.0%
+51.0%
+52.0%
+99.0%
--
Accelerating
Profit
+12.0%
+26.0%
+100.0%
--
+31.0%
Stable

Quarterly Results

Sep 2026

19 Oct
Rev
▼670 Cr
+21% YoY--
OPM4.3%
NPM--
PAT
-44% YoY▼12 Cr
EPS
--▼8.1

Jun 2026

20 Jul
Rev
▲958 Cr
+13% YoY--
OPM10.0%
NPM--
PAT
-5% YoY▲64 Cr
EPS
--▲44.0

Mar 2026

PDF
Rev
▲898 Cr
+16% YoY+67% QoQ
OPM10.0%
NPM6.0%
PAT
+2% YoY▲54 Cr
EPS
+2% YoY▲37.5

Dec 2025

PDF
Rev
▼539 Cr
+63% YoY-3% QoQ
OPM8.0%
NPM3.3%
PAT
+3209% YoY▼18 Cr
EPS
+3176% YoY▼12.1

Sep 2025

PDF
Rev
▼555 Cr
+1% YoY-34% QoQ
OPM8.0%
NPM3.8%
PAT
-3% YoY▼21 Cr
EPS
-3% YoY▼14.6

Jun 2025

PDF
Rev
▲846 Cr
+13% YoY+10% QoQ
OPM12.0%
NPM7.9%
PAT
+44% YoY▲67 Cr
EPS
+44% YoY▲46.3

Mar 2025

PDF
Rev
▲771 Cr
+13% YoY+132% QoQ
OPM12.0%
NPM6.9%
PAT
+1% YoY▲53 Cr
EPS
+1% YoY▲36.6

Dec 2024

PDF
Rev
▼332 Cr
-14% YoY-40% QoQ
OPM6.0%
NPM0.3%
PAT
-80% YoY▼1 Cr
EPS
-80% YoY▼0.4

Sep 2024

PDF
Rev
▼550 Cr
+10% YoY-26% QoQ
OPM8.0%
NPM4.0%
PAT
+3% YoY▼22 Cr
EPS
+3% YoY▼15.1

Jun 2024

PDF
Rev
▲746 Cr
+18% YoY+10% QoQ
OPM11.0%
NPM6.2%
PAT
+46% YoY▼46 Cr
EPS
+46% YoY▼32.1

Mar 2024

PDF
Rev
▲680 Cr
+17% YoY+76% QoQ
OPM10.0%
NPM7.7%
PAT
+95% YoY▲52 Cr
EPS
+95% YoY▲36.1

Dec 2023

PDF
Rev
▼386 Cr
+18% YoY-23% QoQ
OPM6.0%
NPM0.8%
PAT
+2162% YoY▼3 Cr
EPS
--▼1.9

Sep 2023

PDF
Rev
▼499 Cr
+21% YoY-21% QoQ
OPM8.0%
NPM4.2%
PAT
+330% YoY▼21 Cr
EPS
--▼14.6

Jun 2023

PDF
Rev
▲632 Cr
+26% YoY+8% QoQ
OPM7.0%
NPM5.1%
PAT
+1259% YoY▲32 Cr
EPS
--▲22.0

Mar 2023

PDF
Rev
583 Cr
+70% YoY--
OPM7.0%
NPM4.6%
PAT
+335% YoY27 Cr
EPS
--18.5

Revenue & Margin Trends

Annual

Quarterly

Balance Sheet Health

Leverage

Debt / Equity0.56
Interest Coverage5.3x
Promoter Pledge0.0%
Borrowings289 Cr

Efficiency

Receivable Days35 days
Inventory Days111 days
Payable Days68 days
Cash Conversion cycle78 days

Cash Position

Operating Cash Flow156 Cr
Investing Cash Flow-66 Cr
Financing Cash Flow-89 Cr
Free Cash Flow86 Cr

Detailed Financials

Sep 2026PDF ↗
Jun 2026PDF ↗
Mar 2026PDF ↗
Dec 2025PDF ↗
Sep 2025PDF ↗
Jun 2025PDF ↗
Mar 2025PDF ↗
Dec 2024PDF ↗
Sep 2024PDF ↗
Jun 2024PDF ↗
Mar 2024PDF ↗
Dec 2023PDF ↗
Sep 2023PDF ↗
Jun 2023PDF ↗
Mar 2023PDF ↗
Sales670958898539555846771332550746680386499632583
Expenses641857807498513741681313505665608364459585540
Operating Profit29100904142105901845817122394743
Other Income213222222121022
Interest1376359768118759
Depreciation131313131312121212121212121210
Profit Before Tax1685732428907112962503213225
Tax %26.0%25.0%25.0%25.0%26.0%25.0%26.0%29.0%24.0%25.0%-4.0%6.0%0.0%1.0%-7.0%
Net Profit1264541821675312246523213227
Exceptional Items------------------------------
EPS (Rs)8.144.037.512.114.646.336.60.415.132.136.11.914.622.018.5
Sales Growth (YoY)20.7%13.2%16.4%62.5%1.0%13.4%13.4%-14.1%10.3%18.1%16.5%17.8%21.5%26.3%70.4%
Sales Growth (QoQ)----66.6%-2.9%-34.4%9.7%132.2%-39.6%-26.3%9.7%76.2%-22.6%-21.0%8.4%--
OP Growth (YoY)-31.0%-4.8%0.0%127.8%-6.7%29.6%26.8%-18.2%15.4%72.3%65.1%--------
OP Growth (QoQ)-71.0%11.1%119.5%-2.4%-60.0%16.7%400.0%-60.0%-44.4%14.1%222.7%-43.6%-17.0%9.3%--
Profit Growth (YoY)-44.4%-5.0%2.4%3209.4%-3.4%44.3%1.2%-80.2%3.4%45.9%95.3%2161.5%330.0%1259.0%335.0%
EPS Growth (YoY)----2.4%3175.7%-3.4%44.3%1.2%-80.0%3.4%45.9%95.3%--------
EPS Growth (QoQ)----209.0%-16.7%-68.5%26.5%9789.2%-97.5%-53.0%-11.3%1854.0%-87.3%-33.7%18.7%--
OP Margin----10.0%7.6%7.6%12.4%11.7%5.4%8.2%10.9%10.4%5.7%7.8%7.4%7.4%
Net Margin----6.0%3.3%3.8%7.9%6.9%0.3%4.0%6.2%7.7%0.8%4.2%5.1%4.6%
Material Cost %79.0%78.0%78.0%74.0%76.0%76.0%75.0%72.0%77.0%77.0%76.0%75.0%77.0%81.0%80.0%
Employee Cost %10.0%7.0%6.0%11.0%10.0%7.0%7.0%15.0%9.0%7.0%7.0%13.0%9.0%8.0%8.0%
P/S2.343.002.03------------------------
P/E48.7356.5536.10------------------------
P/B12.8217.0411.11------------------------

Shareholding Pattern

Shareholders:39.1K (+52.1%)
Current MixMar 2026

Exchange Filings

50
Company Update20 Oct 2026

Newspaper Advertisements - Unaudited Financial Results for the second quarter and half year ended on 30th September, 2026

Company Update19 Oct 2026

Amendment to the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information

Board Meeting19 Oct 2026

Outcome of Board meeting held on 19.10.2026

Result19 Oct 2026

Un-audited Financial Results for the second quarter and half year ended on 30th September, 2026 and copy of the Un-audited Financial Results along with Limited Review Report issued by the ....

Others12 Oct 2026

Outcome of Board Meeting held on October 12, 2026

Company Update12 Oct 2026

Cessation of Mr. Pushkar Patwardhan as CFO with effect from close of 19th October, 2026

Company Update12 Oct 2026

As per file enclosed

Company Update12 Oct 2026

Appointment of Ms. Manaswini Goel, as CFO and Key Managerial Personnel of the Company designated as Interim CFO for a period with effect from 20th Oct, 2026 to 31st December, 2026

Company Update12 Oct 2026

Appointment of Mr. Surender Kalra as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from 1st January, 2027.

Company Update12 Oct 2026

Appointment of Mr. Ashudeep Saddi as Chief Human Resources Officer (CHRO) and Senior Management Personnel of the Company effective 19th October, 2026

Company Update12 Oct 2026

Intimation under Regulation 30(5) of SEBI (LODR) Reg 2015

Company Update08 Oct 2026

Report for the month of September 2026

Company Update07 Oct 2026

Certificate under Reg. 74(5) of SEBI (DP) Regulations, 2018 for quarter ended on 30th September, 2026

Company Update01 Oct 2026

Sales Figures for the month of September 2026

Board Meeting29 Sept 2026

SML Mahindra Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 19/10/2026 ,inter alia, to consider and approve the Unaudited Financial Results ....

Insider Trading / SAST29 Sept 2026

Closure of trading window from 1st October, 2026 to 22nd October, 2026 for the declaration of unaudited financial results of the Company for the second quarter and half year ending on 30th ....

Company Update09 Sept 2026

Newspaper Advertisements- Special window for re-lodgement of transfer request of physical shares

Company Update08 Sept 2026

Report for the month of August 2026

AGM/EGM07 Sept 2026

Outcome of Postal Ballot, Disclosure of Voting Results of Postal Ballot through remote e-voting and Scrutinizer's Report

AGM/EGM07 Sept 2026

Outcome of the Postal Ballot -Scrutinizer Report

Company Update01 Sept 2026

Sales Figures for the month of August 2026

AGM/EGM25 Aug 2026

Additional information to the shareholders - Dissemination of Business Valuation Report and Fairness Opinion referred to in the Postal Ballot Notice dated 7th August 2026

Company Update08 Aug 2026

Newspaper Advertisement - Notice of Postal Ballot and other related information

Company Update08 Aug 2026

Report for the month of July 2026

AGM/EGM07 Aug 2026

Postal Ballot Notice dated 7th August, 2026

Others29 Jul 2026

Acquisition of Mahindra & Mahindra's Truck and Bus Division by the Company on a Slump Sale basis under Business Transfer Agreement

AGM/EGM22 Jul 2026

42nd Annual General Meeting-Voting Results and Consolidated Scrutinizer''s Report

AGM/EGM21 Jul 2026

Proceedings of 42nd Annual General Meeting of SML Mahindra Limited

Company Update21 Jul 2026

Newspaper Advertisements - Unaudited Financial Results for the first quarter ended on 30th June, 2026

Board Meeting20 Jul 2026

A copy of the Un-audited Financial Results along with Limited Review Report issued by the Statutory Auditors of the Company is enclosed herewith

Result20 Jul 2026

A copy of the Un-audited Financial Results along with Limited Review Report issued by the Statutory Auditors of the Company is enclosed herewith

Company Update08 Jul 2026

Report for the month of June 2026

Company Update06 Jul 2026

Certificate under Reg. 74(5) of SEBI (DP) Regulations, 2018 for quarter ended June 2026

Company Update01 Jul 2026

Sales Fig for the month of June 2026

Others30 Jun 2026

Outcome of Board Meeting

Company Update30 Jun 2026

Appointment of Mr. Vimal Agarwal as the Internal Auditor of the Company with effect from 1st July, 2026

Company Update30 Jun 2026

Intimation under Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (''Listing Regulations'')

Board Meeting30 Jun 2026

SML Mahindra Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 20/07/2026 ,inter alia, to consider and approve the Unaudited Financial Results ....

Insider Trading / SAST30 Jun 2026

Closure of trading window from 1st July, 2026 to 23rd July, 2026 to consider & approve the Unaudited Financial Results of the Company for the first quarter (FY 2026-27) ending on 30th June, 2026.

Company Update29 Jun 2026

Newspaper Advertisement-42nd Annual General Meeting (AGM) and E-Voting

AGM/EGM27 Jun 2026

Notice of 42nd Annual General Meeting

Company Update27 Jun 2026

Letter to shareholders - Providing the weblink to access the Notice of the 42nd Annual General Meeting and the Annual Report for FY 2025-26.

Others27 Jun 2026

Business Responsibility and Sustainability Report (BRSR) 2026

Others27 Jun 2026

Annual Report 2026

Company Update10 Jun 2026

Cessation of Dr. Venkataraman Srinivas (DIN: 11163042) as Executive Director & Chief Executive Officer of the Company with effect from the close of 30th June, 2026 on account of his transition ....

Company Update10 Jun 2026

Cessation of Dr. Venkataraman Srinivas (DIN: 11163042) as Executive Director & Chief Executive Officer of the Company with effect from the close of 30th June, 2026 on account of his transition ....

Company Update10 Jun 2026

Cessation of Dr. Venkataraman Srinivas (DIN: 11163042) as Executive Director & Chief Executive Officer of the Company with effect from the close of 30th June, 2026 on account of his transition ....

Company Update10 Jun 2026

Cessation of Dr. Venkataraman Srinivas (DIN: 11163042) as Executive Director & Chief Executive Officer of the Company with effect from the close of 30th June, 2026 on account of his transition ....

Others10 Jun 2026

Outcome of Board meeting

Company Update08 Jun 2026

Report for the month of May 2026

Annual Reports

14

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

Credit Ratings

6
icraRating update
28 Nov 2025Report
icraRating update
17 Oct 2025Report
icraRating update
05 May 2025Report
icraRating update
06 Sept 2024Report
icraRating update
14 Aug 2023Report
icraRating update
01 Aug 2022Report

Concalls

14

Apr 2026

30 Apr 2026

Sep 2020

30 Sept 2020

May 2019

31 May 2019

Aug 2018

31 Aug 2018

Jun 2018

30 Jun 2018

Jun 2018

30 Jun 2018

Dec 2017

31 Dec 2017

Nov 2017

30 Nov 2017

Sep 2017

30 Sept 2017

Jun 2017

30 Jun 2017

Mar 2017

31 Mar 2017

Oct 2016

31 Oct 2016

Aug 2016

31 Aug 2016

Jun 2016

30 Jun 2016

Held by ETFs

1 ETFs hold SMLMAH · sorted by weight

#ETFWeight %
1

AONETOTAL

AONEAMC - AONETOTAL

0.02%

Held by Mutual Funds

5 schemes hold SMLMAH · sorted by weight

#SchemeWeight %
1

LIC MF Multi Asset Allocation Fund

LIC Mutual Fund

1.53%
2

Motilal Oswal Nifty Microcap 250 Index Fund

Motilal Oswal Mutual Fund

0.26%
3

Groww Nifty Total Market Index Fund

Groww Mutual Fund

0.01%
4

Motilal Oswal BSE 1000 Index Fund

Motilal Oswal Mutual Fund

0.01%
5

Bandhan Nifty Total Market Index Fund

Bandhan Mutual Fund

0.01%