SML Mahindra quarterly results and financials

SML Mahindra (SMLMAH)₹5,189−4.04%(9 Nov 2026 close)Commercial Vehicles

Key facts

In the Jun 2026 quarter (standalone), SML Mahindra reported sales of ₹956 Cr, up 13.1% from Jun 2025, and net profit of ₹64.24 Cr, down 4.4% year on year. For the year to Mar 2026, sales were ₹2,836 Cr and net profit ₹161 Cr.

Sales (Jun 2026): ₹956 Cr
Net profit (Jun 2026): ₹64.24 Cr
Sales (FY Mar 2026): ₹2,836 Cr
Net profit (FY Mar 2026): ₹161 Cr
EPS (Jun 2026): ₹44.00
Borrowings (Mar 2026): ₹288 Cr

Company filings, standalone accounts; latest reported quarter Jun 2026

SML Mahindra quarterly results

₹ crore unless stated; each column is a quarter.

SML Mahindra Quarterly results
	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	498	386	679	745	549	331	770	845	554	539	897	956
Expenses	457	363	606	662	503	312	679	739	511	496	804	854
Operating Profit	39.04	22.01	71.02	81.06	44.99	18.01	89.99	105	42.03	41.02	90.05	100
OPM %	8.0%	6.0%	9.9%	10.9%	7.9%	6.0%	11.9%	12.0%	7.9%	8.0%	10.0%	9.9%
Other Income	0.00	0.99	1.99	0.99	1.99	1.99	1.99	1.99	1.99	1.99	2.99	0.99
Interest	7.01	8.01	11.01	8.01	6.01	7.01	9.01	5.01	3.01	6.01	7.01	3.01
Depreciation	12.02	12.03	12.03	12.03	12.02	12.03	12.03	12.03	13.03	13.03	13.02	13.02
Profit before tax	21.05	3.01	50.10	62.15	29.07	1.01	71.16	90.13	28.04	24.06	73.07	85.15
Tax %	0.0%	6.0%	−4.0%	25.0%	24.0%	29.0%	26.0%	25.0%	26.0%	25.0%	25.0%	25.0%
Net Profit	21.06	3.01	52.16	46.14	22.07	1.01	53.14	67.21	21.06	18.05	54.17	64.24
EPS (Rs)	14.58	1.86	36.22	32.12	15.08	0.38	36.66	46.36	14.58	12.13	37.48	44.00

SML Mahindra profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

SML Mahindra Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	1,164	1,354	1,134	1,407	1,153	590	922	1,820	2,193	2,395	2,836	2,947
Expenses	1,075	1,242	1,086	1,330	1,139	658	961	1,735	2,012	2,157	2,551	2,666
Operating Profit	86.98	110	45.03	74.03	12.01	−69.03	−41.02	82.02	179	235	278	273
OPM %	7.0%	8.0%	4.0%	5.0%	1.0%	−12.0%	−4.5%	4.5%	7.9%	9.9%	10.0%	9.3%
Other Income	5.98	3.99	2.99	3.99	4.99	4.99	5.99	2.99	4.99	5.99	7.98	7.96
Interest	5.01	6.01	11.01	16.02	15.02	23.01	22.01	25.01	30.03	30.01	21.03	19.04
Depreciation	20.04	24.06	28.04	38.07	41.10	46.08	44.09	42.11	48.10	48.12	52.08	52.10
Profit before tax	68.14	84.12	9.01	24.03	−38.08	−133	−100	17.02	106	162	214	210
Tax %	25.0%	25.0%	10.0%	20.0%	−45.0%	0.0%	−1.0%	−15.0%	−1.0%	25.0%	25.0%	—
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01	0.00	0.00	—
Net Profit	51.14	63.17	8.03	20.07	−21.08	−133	−100	20.06	108	122	161	158
EPS (Rs)	35.38	43.62	5.88	13.53	−14.56	−92.42	−69.05	13.72	74.69	84.24	110.48	108.19
Dividend payout %	23.1%	18.1%	26.1%	22.1%	0.0%	0.0%	0.0%	0.0%	21.1%	21.1%	21.1%	—

SML Mahindra balance sheet

₹ crore, at each year end.

SML Mahindra Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	13.98	13.98	13.97	13.97	13.98	13.99	13.98	13.99	13.99	13.99	13.98	13.98
Reserves	288	326	389	384	399	370	241	147	163	271	368	505
Borrowings	21.92	54.84	40.88	211	245	184	260	297	264	419	326	288
Other Liabilities	350	332	341	377	435	288	279	357	494	507	591	588
Total Liabilities	675	726	785	986	1,093	857	795	815	936	1,212	1,299	1,397
Fixed Assets	137	170	214	364	379	424	388	348	355	339	320	336
CWIP	27.09	40.17	78.33	35.12	27.10	3.01	5.02	16.05	11.04	11.04	59.23	47.17
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	511	515	492	587	688	429	403	450	569	861	920	1,014
Inventories	285	339	295	363	423	269	259	295	421	579	577	660
Trade receivables	104	103	115	117	149	39.05	39.04	79.08	76.05	169	265	270
Cash & equivalents	88.25	36.13	8.03	22.08	30.12	36.15	33.10	14.05	6.02	49.18	20.08	21.08
Total Assets	675	726	785	986	1,093	857	795	815	936	1,212	1,299	1,397

SML Mahindra cash flow

₹ crore, for each year.

SML Mahindra Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	69.18	−12.02	121	−33.07	55.10	150	−47.12	−19.03	90.24	−50.11	177	156
Cash from investing activity	−103	−13.04	−89.25	−98.22	−58.19	−47.16	−28.09	−7.02	−42.12	−46.11	−61.18	−66.23
Cash from financing activity	10.96	16.95	−33.85	145	9.96	−96.57	59.74	16.93	−54.84	127	−148	−88.70
Net cash flow	−23.09	−8.03	−2.01	15.04	8.02	6.02	−15.04	−8.02	−7.02	31.11	−32.13	1.01
Capex	34.01	66.98	120	100	61.99	47.99	19.01	19.02	41.03	42.01	62.05	69.97
Free cash flow	34.11	−79.26	1.01	−132	−6.02	102	−66.14	−38.12	49.14	−87.23	116	86.27
CFO / OP %	109.0%	9.0%	132.0%	−60.0%	80.0%	1,259.0%	67.0%	71.0%	103.0%	−27.0%	76.0%	75.0%

SML Mahindra ratios

Working-capital days and returns, by year.

SML Mahindra Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	34	32	31	38	38	12	24	31	15	28	40	35
Inventory days	129	146	107	158	146	109	202	143	105	125	116	111
Days payable	89	73	69	91	93	66	141	117	72	70	73	67
Cash conversion cycle	73	104	69	104	91	54	84	56	48	81	82	78
Working capital days	29	41	44	41	28	8	−69	−74	−31	−7	17	23
ROCE %	18.9%	19.9%	21.9%	4.0%	6.0%	−4.0%	−20.1%	−16.1%	8.9%	23.9%	26.9%	30.9%

SML Mahindra: frequently asked questions

What are the latest quarterly results of SML Mahindra?

For the Jun 2026 quarter, SML Mahindra reported sales of ₹956 Cr, up 13.1% year on year and net profit of ₹64.24 Cr, down 4.4% year on year. The operating margin was 9.9%.

What is the annual revenue of SML Mahindra?

SML Mahindra's sales for the year to Mar 2026 were ₹2,836 Cr; over the last twelve months they were ₹2,947 Cr.

What is the net profit of SML Mahindra?

Net profit for the year to Mar 2026 was ₹161 Cr, and ₹158 Cr over the last twelve months. Earnings per share over the same trailing period were ₹108.19.

How much debt does SML Mahindra have?

SML Mahindra reported borrowings of ₹288 Cr at Mar 2026, against cash and equivalents of ₹21.08 Cr.

What is the free cash flow of SML Mahindra?

Cash from operations was ₹156 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹86.27 Cr.

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