āagman

Not investment advice. Data and computed figures, for information only.

SML Mahindra Ltd

NSE: SMLMAH
₹6,031.50
−₹107.50 (−1.75%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹8,409 Cr
CMP
₹6,031.50
52-wk High / Low
₹6,899 / 2,749
P/E
53.8
P/B
16.2
Book Value
₹359.0
Div Yield
0.40%
ROCE
31.0%
ROE
35.4%
Face Value
₹10
D/E
0.56

Price+95.7% over Max

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹944
√(22.5 × EPS × book value per share)
ROIC
20.9%
vs 12.3% sector median
Cash flow to profit
0.98
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−197
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
27.8%
ROE × earnings retention ratio
ROE stability
37.1
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.47DII +0.87
Latest quarter vs the previous one
Cash-accrual divergence
0.3%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.3x)
+Promoter holding rose by 15.0pp over the last year
Watch-outs
−Borrowings are up 425.5% since FY2016 (55 to 289)
−Annualised volatility of 59.3% is in the high band (≥45%)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Standalone basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales632499386680746550332771846555539898958
Expenses585459364608665505313681741513498807857
Operating Profit4739227181451890105424190100
OPM %7.4%7.8%5.7%10.4%10.9%8.2%5.4%11.7%12.4%7.6%7.6%10.0%10.4%
Other Income2012122222231
Interest57811867953673
Depreciation12121212121212121213131313
Profit before tax322135062291719028247385
Net Profit322135246221536721185464
EPS (₹)21.9714.571.8536.1532.0615.060.3736.5946.2714.5512.1237.4543.96

Profit & Loss

As of 30 Jun 2026
Standalone · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,1061,1661,3561,1351,4091,1545919241,8222,1962,3992,8382,950
Expenses1,0361,0791,2461,0901,3351,1426609651,7402,0172,1642,5602,676
Operating Profit6987110457412−69−4182179235278273
OPM %6.2%7.5%8.1%4.0%5.3%1.0%−11.7%−4.4%4.5%8.2%9.8%9.8%9.3%
Other Income5643455635687
Interest65611161523222530302118
Depreciation20202428384146444248485253
Profit before tax496884924−38−133−10017106162214210
Net Profit375163820−21−133−10020108122160156
EPS (₹)25.5335.3543.545.8713.52−14.55−92.24−68.9413.7174.5584.08110.39108.08

Balance Sheet

As of 30 Jun 2026
Standalone · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital141414141414141414141414—
Reserves288326389384399370241147163271368505—
Borrowings225541212246185261298265421327289—
Other Liabilities350332341377435289279357494506590588—
Total Liabilities6757277859871,0958597968169371,2131,2991,397—
Fixed Assets138171215365380426389349356340321337—
CWIP2740783527351611115947—
Investments000000000000—
Other Assets5115154925876884294034505698619191,013—
Total Assets6757277859871,0958597968169371,2131,2991,397—

Cash Flows

As of 31 Mar 2026
Standalone · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity69−12121−3355150−47−1990−50177156
Cash from Investing Activity−103−13−89−98−58−47−28−7−42−46−61−66
Cash from Financing Activity1117−3414610−976017−55127−148−89
Net Cash Flow−23−8−21586−15−8−731−321

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %19.020.022.04.06.0−4.0−20.0−16.09.024.027.031.0
ROE %———————————35.4
EPS (₹)25.5335.3543.545.8713.52−14.55−92.24−68.9413.7174.5584.08110.39
Book Value (₹)———————————359.0
Face Value (₹)———————————10
P/E———————————53.8
Div Yield %———————————0.40
NPM %3.34.44.60.71.4−1.8−22.3−10.81.14.95.15.6
OPM %6.07.08.04.05.01.0−12.0−4.54.58.010.010.0
D/E0.070.160.100.530.600.481.021.851.501.480.860.56
P/B———————————16.2

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+9.0%
5 years+37.0%
3 years+16.0%
TTM+18.0%
Compounded profit growth
10 years+12.0%
5 years+26.0%
3 years+100.0%
TTM+10.0%
Stock price CAGR
10 years+16.0%
5 years+57.0%
3 years+67.0%
Last year+81.0%
Return on equity
10 years7.0%
5 years22.0%
3 years38.0%
Last year35.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%58.97%58.97%
FIIs4.19%4.19%5.79%5.29%4.39%3.33%1.70%16.68%15.81%15.24%0.77%1.24%
DIIs3.23%3.23%2.77%1.47%1.45%1.29%0.94%0.00%0.00%0.04%1.56%2.43%
Government————————————
Public48.61%48.61%47.48%49.27%50.19%51.42%53.40%39.34%40.22%40.76%38.71%37.35%
No. of shareholders31,88331,88334,57031,64732,84532,79630,31525,68725,44729,91539,06841,457
Change since Jun 2023 (pp)
Promoters +15.01FIIs −2.95DIIs −0.80Public −11.26

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Monthly Business UpdatesCompliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Monthly Business UpdatesBoard Meeting Intimation for Consideration & Approval Of Unaudited Financial Results Of The Company For The Second Quarter And Half Year Ending On 30Th September, 2026 (FY 2026-27)Closure of Trading Window
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026PPTApr 2026TranscriptApr 2026PPTApr 2026RecordingSep 2020PPTMay 2019PPTAug 2018PPT

Corporate actions

As of 3 Jul 2026
3 Jul 2026DIVIDENDDividend - Rs 23.50 Per Share—
9 Jul 2025DIVIDENDDividend - Rs 18 Per Share—
6 Sep 2024DIVIDENDDividend - Rs 16 Per Share—
19 Sep 2019DIVIDEND Annual General Meeting/Dividend - Rs 3 Per Share—
1 Aug 2018DIVIDEND Annual General Meeting / Dividend- Rs 1.50 Per Share—
14 Sep 2017DIVIDEND Annual General Meeting/Dividend - Rs 8/- Per Share—
28 Jul 2016DIVIDEND Annual General Meeting /Dividend - Rs 8/- Per Share—
27 Aug 2015DIVIDEND Dividend - Rs 6/- Per Share—
27 Aug 2014DIVIDENDAnnual General Meeting / Dividend - Rs 3/- Per Share—
29 Aug 2013DIVIDENDAnnual General Meeting And Dividend Rs.8/- Per Share—
15 Jun 2012DIVIDENDAnnual General Meeting And Dividend - Rs.8/- Per Share—
13 Jul 2011DIVIDENDAnnual General Meeting/Final Dividend Rs.6.50 Per Share And Special Dividend Rs.1.50 Per Share—
3 Sep 2010DIVIDENDAnnual General Meeting And Dividend Rs.4/- Per Share—
9 Feb 2010RIGHTSRights 19:50@Prem Rs.190—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman