Key Corporate Developments

  • Mahindra completed acquisition of 58.96% controlling stake in SML Isuzu on 1st August, 2025
  • Board of Directors and Key Leadership of SML were reconstituted following the acquisition
  • Company was renamed from SML ISUZU to SML Mahindra on 8th October, 2025

Financial Performance Highlights (F26)

  • Revenue growth: 18% year-over-year
  • PAT: ₹64 Crore, representing 31% growth
  • Dividend declared at 235%
  • Volume growth: 10% year-over-year
  • Company outperformed industry growth (17% vs 13% industry growth)
  • Achieved all-time highest sales and plant production

Market Position

  • ILCV Bus Market Share: 26.6% (2nd biggest player in segment)
  • Market share calculated basis respective segments of ILCV Trucks and ILCV Buses
  • CV Industry reference: >3.5 Tonnage

Strategic Aspirations

  • Goal to become Top 3 in India's ILCV Trucks & Buses with focused play in HCVs
  • Target to create ₹12,500 Crore business by F31 (2025-26 is F26)
  • Market share targets by F31:
  • ILCV Buses (<12T): 12% share (from current 26.6% position)
  • ILCV Trucks (5-18.5T): 6% share
  • HCV Trucks (28-55T): 6% share

Product Portfolio

  • Combined range of special purpose vehicles including:
  • Troop carrier, Ambulance, Water bowser, Dual cab
  • Reefer van, Closed container, Diesel Bowser

Strategic Pillars and Timeline

  • F27-29: Consolidate phase - Seamless integration, execute synergy ideas, evaluate structure, invest in growth
  • F28-32: Scale phase - Launch modern competitive product portfolio, strengthen presence in current markets, expand in new markets, alternate fuels
  • F31-35: Maximize phase - Operating leverage through scale, premium positioning through brand and product strength

Corporate Social Responsibility

  • Support to underprivileged girls in the form of fee & uniform
  • Renovation of school infrastructure in flood affected areas
  • Upgradation of medical infrastructure at government hospitals