SML Mahindra slips nearly 6% post earnings, dividend announcement; check Q4 numbers

The stock declined as much as 5.59% to ₹4,080 per share on the National Stock Exchange (NSE). At 10:01 am, it was down 4.53% to ₹4,128 apiece.

SML Mahindra Q4 results

SML Mahindra's profit after tax increased 2.36% to ₹54.20 crore in the latest March quarter, as against ₹52.95 crore in the corresponding quarter of last year.

Revenue from operations for the quarter under review advanced 16.36% at ₹897.65 crore from ₹771.38 crore in the March quarter of FY25, it said.

The company also declared a final dividend of ₹23.50 per share for FY26. The record date is fixed as July 3.

During the March quarter of FY26, the company said cargo vehicle volumes stood at 1,592, while passenger vehicles volume were recorded at 3,705, growing 16% year-on-year, adding that market share in the cargo vehicle was down 2% year-on-year at 3.3% while passenger vehicles market share rose 1.7% year-on-year to 16% in the fourth quarter of previous fiscal.

For the full 2025-26 fiscal, the profit was at ₹159.75 crore and revenue at ₹2,837.92 crore, the company said.

Last year in April, Mahindra Group announced acquiring a 58.96% controlling stake in the light and medium commercial vehicle maker SML Isuzu for a total consideration of ₹555 crore. The transaction also triggered an open offer for an additional 26% stake in SML Isuzu as per market regulator SEBI's Takeover norms.

On August 1, 2025, Mahindra completed the acquisition and subsequently the board of directors and key leadership of SML were reconstituted. In October, SML Isuzu was renamed as SML Mahindra Ltd.

"SML Mahindra has grown around 17% as against industry growth of 13%. Our revenue was up 18%, our PAT was up 31% in the year and our rating went two notches up from AA- to AA+. Our experience since August 2025 reconfirms our rationale for the acquisition," said Vinod Sahay, Chairman SML Mahindra at a post-earnings press meet.

"The company is in good shape and poised for future growth. The integration is going as per plan," he said, adding supply chain is well in control and managing even the current crisis.

The company has already completed the roadmap for the integrated product, and aggregate strategy plan and the work has commenced on that, he said.

The company had certain inflationary pressures which it has passed on with some price increase in the first quarter, he said and added that "going forward we will continue to try and mitigate this situation."