SML MAHINDRA LIMITED

SML Mahindra Limited held its first earnings call since the acquisition by Mahindra in August 2025. Management reported an 18% revenue increase and a 31% rise in profit after tax (PAT) for FY 2026, outpacing industry growth. The company aims to be among the top three players in India's intermediate and light commercial vehicle (ILCV) segment. Management highlighted successful integration efforts, including product development and supply chain management, while noting challenges from geopolitical issues affecting the supply chain. The company also discussed its plans for electric buses and the importance of hydrogen fuel cells for heavy trucks. Management confirmed that SML would not be delisted and emphasized a cautious approach to merging operations. The call concluded with a commitment to future growth and innovation in product offerings, leveraging Mahindra's capabilities.

Management emphasized strong growth and successful integration efforts.