SML Mahindra Limited

NSE: SMLMAH · Capital Goods

₹5,259.50+4.80%06 Nov 2026

Ask the data

Instant answers about SML Mahindra Limited — computed from its filings, no language model

Market cap₹7,616 cr

Current price₹5,259.50

High / Low₹6,826 / ₹2,765

P/E51.8

P/B13.60

Book value₹386.7

ROE26.3%

ROCE36.2%

Debt / equity0.05

Dividend yield0.34%

EPS (TTM)₹101.56

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 18 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	547	720	893	1,036	1,002	881	1,106	1,164	1,369	1,174	1,409	1,154	591	924	1,822	2,196	2,399	2,838
EBITDA	28	56	69	80	70	32	66	85	108	45	74	12	-68	-41	82	179	235	278
Operating margin	5.1%	7.8%	7.8%	7.7%	7.0%	3.6%	5.9%	7.3%	7.9%	3.9%	5.3%	1.0%	-11.6%	-4.5%	4.5%	8.1%	9.8%	9.8%
Interest	18	19	—	8	19	6	6	5	4	11	16	15	23	22	25	30	30	21
Depreciation	6	9	9	10	12	13	20	20	24	28	38	41	46	44	42	48	48	52
Profit before tax	4	30	47	60	48	18	49	68	85	9	24	-38	-133	-100	17	106	162	214
Tax	-1	9	11	18	12	0	12	17	22	1	5	-17	0	-1	-3	-1	41	54
Net profit	5	21	37	42	36	17	37	51	63	8	20	-21	-133	-100	20	108	122	160
EPS ₹	—	—	—	—	—	—	—	—	—	5.87	13.53	-14.55	-92.24	-68.94	13.71	74.54	84.08	110.39
Operating cash flow	—	—	—	—	—	—	—	—	—	—	—	—	—	-19	90	-50	177	156
Capex	—	—	—	—	—	—	—	—	—	—	—	—	—	19	41	42	62	70
Dividend paid	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	0	23	26
Total assets	—	—	—	—	—	—	—	—	—	—	—	—	—	—	937	1,213	1,299	1,397
Equity	—	—	—	—	—	—	—	—	—	—	—	—	—	—	178	286	383	519

Quarterly performance

last 75 quarters · ₹ crore

showing latest 8 of 75 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18	JUN '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	MAR '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	177	166	175	163	205	43	136	157	155	188	219	193	195	222	282	239	249	248	301	263	263	197	279	284	203	170	224	339	234	212	322	383	269	194	318	463	305	230	371	358	227	221	368	453	295	232	430	471	234	177	272	29	120	184	258	100	233	342	410	328	583	632	499	386	680	746	550	332	771	846	555	539	898	958	670
Operating profit	13	13	15	13	14	-8	9	11	13	15	17	11	16	19	23	18	21	21	20	21	23	9	18	18	7	-3	10	35	8	2	21	43	13	3	27	61	18	9	20	18	5	-2	24	40	1	-8	41	36	-15	-18	9	-36	-18	-9	-5	-17	-16	2	6	16	43	47	39	22	71	81	45	18	90	105	42	41	90	100	29
Operating margin	7.1%	8.0%	8.7%	7.9%	7.1%	-18.2%	6.3%	6.9%	8.4%	8.1%	7.7%	5.9%	8.4%	8.4%	8.1%	7.5%	8.5%	8.3%	6.7%	8.0%	8.7%	4.6%	6.3%	6.4%	3.3%	-1.6%	4.3%	10.4%	3.3%	0.9%	6.4%	11.1%	4.7%	1.3%	8.5%	13.2%	5.9%	4.0%	5.3%	5.1%	2.0%	-0.8%	6.6%	8.7%	0.5%	-3.2%	9.5%	7.7%	-6.3%	-10.5%	3.2%	-124.1%	-15.3%	-5.0%	-2.0%	-17.3%	-6.9%	0.7%	1.4%	4.9%	7.4%	7.4%	7.9%	5.6%	10.5%	10.9%	8.1%	5.5%	11.7%	12.4%	7.6%	7.6%	10.1%	10.5%	4.3%
Other income	—	—	—	—	—	—	—	—	—	—	2	—	-2	—	—	—	—	—	3	2	2	2	4	1	1	1	1	2	3	2	2	2	2	2	2	1	2	2	0	0	0	1	2	1	1	1	1	1	2	1	2	1	2	1	1	0	4	1	0	1	2	2	0	1	2	1	2	2	2	2	2	2	3	1	2
Interest	3	3	3	3	4	6	6	6	5	4	4	2	—	3	2	1	1	2	3	3	4	6	6	2	1	2	1	0	0	3	2	1	1	1	3	1	1	1	2	2	3	4	1	4	4	4	4	5	4	4	3	6	7	6	5	5	6	4	4	7	9	5	7	8	11	8	6	7	9	5	3	6	7	3	1
Depreciation	1	1	1	1	1	2	2	2	2	2	2	2	2	2	2	2	3	3	3	3	3	3	3	3	3	3	3	5	5	4	6	5	5	5	5	6	6	6	6	7	7	8	7	9	10	10	10	10	10	10	11	12	12	12	11	11	11	10	11	11	10	12	12	12	12	12	12	12	12	12	13	13	13	13	13
Profit before tax	9	10	11	9	10	-16	1	3	6	8	13	7	12	10	18	14	18	16	12	17	17	1	13	14	4	-7	6	32	5	-4	15	39	9	-2	22	56	13	4	12	10	-5	-13	18	27	-11	-20	28	23	-27	-31	-3	-52	-35	-26	-20	-33	-30	-11	-9	-1	25	32	21	3	50	62	29	1	71	90	28	24	73	85	16
Tax	3	3	4	3	3	-5	-2	1	2	2	4	2	3	0	6	4	6	4	4	5	4	-1	3	4	0	-3	-1	8	2	-1	2	10	3	-1	5	15	4	1	3	3	-2	-3	3	7	-3	-5	6	6	-9	-13	-1	0	0	0	0	0	-1	0	0	-1	-2	0	0	0	-2	16	7	0	18	23	7	6	18	22	4
Net profit	6	6	7	6	6	-10	3	2	5	6	9	5	9	10	12	10	12	12	8	12	13	2	9	10	4	-4	8	23	4	-3	13	29	6	-1	17	41	10	3	9	7	-3	-10	15	20	-8	-15	22	17	-18	-18	-2	-52	-35	-26	-20	-33	-29	-11	-9	-0	27	32	21	3	52	46	22	1	53	67	21	18	54	64	12
EPS ₹	5.90	6.00	6.40	5.80	5.80	-10.00	3.00	2.00	4.40	5.60	7.70	3.50	6.40	6.70	8.70	6.80	8.20	8.20	5.72	8.46	8.94	1.25	6.54	7.06	2.67	-3.05	5.34	16.18	2.43	-1.89	8.81	20.08	4.39	-0.63	11.51	28.42	6.69	2.18	6.11	4.67	-2.33	-6.74	10.27	13.90	-5.35	-10.23	15.21	11.51	-12.31	-12.36	-1.39	-36.11	-23.99	-18.24	-13.90	-23.11	-20.11	-7.90	-6.34	-0.09	18.52	21.97	14.57	1.86	36.14	32.06	15.06	0.36	36.60	46.27	14.55	12.11	37.46	43.96	8.09
Revenue YoY	—	—	—	—	15.9%	-74.2%	-22.3%	-3.5%	-24.4%	339.4%	61.4%	23.0%	25.8%	18.0%	28.5%	23.8%	27.2%	11.3%	6.7%	9.9%	5.7%	-20.6%	-7.3%	8.1%	-22.8%	-13.6%	-19.6%	19.1%	15.1%	24.8%	43.3%	13.2%	15.1%	-8.4%	-1.1%	20.9%	13.3%	18.3%	16.7%	-22.8%	-25.5%	-3.6%	-0.8%	26.6%	30.1%	4.6%	16.7%	4.2%	-20.8%	-23.8%	-36.6%	-93.9%	-48.5%	4.2%	-5.0%	247.8%	93.2%	32.5%	76.4%	—	70.4%	—	21.5%	17.8%	16.5%	18.1%	10.3%	-14.1%	13.5%	13.4%	1.0%	62.5%	16.4%	13.2%	20.7%
Profit YoY	—	—	—	—	-1.6%	-266.7%	-53.9%	-65.6%	-24.6%	—	186.7%	142.9%	102.2%	64.4%	40.6%	94.1%	27.6%	22.0%	-33.5%	23.6%	8.9%	-84.7%	14.1%	-16.6%	-70.1%	-344.2%	-18.1%	129.4%	-9.3%	—	64.6%	24.1%	81.2%	—	30.8%	41.5%	52.4%	—	-46.9%	-83.6%	-134.7%	-409.8%	68.0%	197.5%	—	—	47.9%	-17.2%	—	—	-109.1%	-413.7%	—	—	—	—	—	—	—	—	—	—	—	—	95.3%	45.9%	3.4%	-80.2%	1.2%	44.3%	-3.4%	3209.4%	2.4%	-5.0%	-44.4%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 68 periods

	JUN '08	SEP '08	DEC '08	MAR '09	JUN '09	SEP '09	DEC '09	MAR '10	JUN '10	SEP '10	DEC '10	MAR '11	JUN '11	SEP '11	DEC '11	MAR '12	JUN '12	SEP '12	DEC '12	MAR '13	JUN '13	SEP '13	DEC '13	MAR '14	JUN '14	SEP '14	DEC '14	MAR '15	JUN '15	SEP '15	DEC '15	MAR '16	JUN '16	SEP '16	DEC '16	MAR '17	JUN '17	SEP '17	DEC '17	MAR '18	JUN '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	27.7%	34.6%	35.8%	37.8%	42.9%	37.3%	36.6%	31.8%	37.2%	31.9%	35.7%	30.8%	30.1%	26.3%
ROCE	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	16.7%	22.0%	23.0%	19.5%	24.2%	28.6%	28.1%	27.3%	30.8%	30.9%	34.0%	29.4%	28.5%	36.2%
Net margin	3.7%	3.6%	1.4%	0.9%	0.1%	-0.1%	2.5%	3.0%	3.2%	3.7%	4.0%	4.1%	4.4%	4.4%	4.5%	4.0%	4.2%	4.2%	3.4%	3.6%	3.4%	2.6%	2.0%	2.0%	3.3%	3.1%	3.2%	3.3%	3.7%	3.8%	4.0%	4.4%	5.1%	5.2%	5.4%	4.6%	2.3%	1.3%	0.2%	0.7%	1.7%	1.3%	0.9%	1.4%	1.1%	0.4%	0.2%	-1.8%	-12.6%	-17.9%	-19.1%	-22.6%	-17.3%	-14.1%	2.5%	3.9%	3.9%	4.9%	5.3%	5.2%	5.2%	5.1%	5.7%	5.7%	5.8%	5.6%	5.3%	4.8%
EBITDA margin	7.9%	7.9%	5.9%	5.1%	4.8%	5.0%	7.5%	7.8%	7.5%	7.5%	7.6%	7.8%	8.1%	8.1%	8.1%	7.7%	7.8%	7.9%	7.1%	7.0%	6.6%	5.3%	4.2%	3.6%	5.2%	5.2%	5.4%	5.9%	6.3%	6.6%	6.7%	7.3%	8.3%	8.5%	8.8%	7.9%	5.1%	4.3%	3.4%	3.9%	5.2%	4.7%	4.3%	5.3%	5.0%	4.0%	3.4%	1.0%	-8.5%	-10.7%	-9.0%	-11.6%	-7.5%	-6.1%	5.7%	7.1%	7.2%	8.1%	9.2%	9.3%	9.3%	9.8%	10.3%	10.2%	10.3%	9.8%	9.3%	8.5%
Debt / equity	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.45	1.08	1.08	1.46	1.46	0.87	0.87	0.84	0.84	0.56	0.56	0.54	0.54	0.05
Interest coverage	4.39	4.14	1.93	1.23	0.92	0.77	1.91	2.61	3.22	—	—	—	—	8.65	10.64	8.94	8.21	6.43	3.99	3.61	3.52	3.21	3.28	4.00	9.11	9.58	9.57	9.38	9.92	10.21	13.43	14.21	18.58	19.30	20.73	22.16	7.83	3.54	1.30	1.90	3.16	2.61	2.08	2.51	2.20	1.26	0.59	-1.62	-6.20	-5.47	-4.46	-4.71	-3.98	-3.86	2.82	3.77	3.80	4.51	5.10	5.43	5.47	6.43	8.07	8.91	10.37	11.32	12.40	13.01
Asset turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.09	2.22	2.28	1.81	1.91	2.28	2.23	1.85	1.92	2.10	2.27	2.03	2.11	2.63

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 9 periods

	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	14	14	14	14	14	14	14	14	14
Other equity / reserves	140	163	215	271	316	368	429	505	545
Total equity	154	178	230	286	330	383	444	519	560
Borrowings	266	258	249	416	286	322	249	280	30
Current liabilities	563	685	602	820	595	772	630	790	525
Non-current liabilities	69	74	88	107	109	145	120	88	81
Total assets	786	937	920	1,213	1,034	1,299	1,193	1,397	1,166
Property, plant & equipment	286	275	265	267	261	263	299	291	285
Capital work-in-progress	3	1	10	3	8	42	8	23	45
Investments	0	0	0	0	1	0	0	0	0
Inventories	313	422	419	580	469	578	595	661	594
Receivables	55	76	76	169	133	265	136	270	97
Cash & equivalents	4	3	4	35	7	3	1	5	4

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY24	FY25	FY26
Cash from operations	-19	90	-50	177	156
Cash from investing	-7	-42	-46	-61	-66
Cash from financing	17	-55	127	-148	-89
Capex	19	41	42	62	70
Free cash flow	-38	49	-92	116	86
Dividends paid	0	0	0	23	26

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹285 cr24%

CWIP

₹45 cr4%

Inventories

₹594 cr51%

Receivables

₹97 cr8%

Cash & equivalents

₹4 cr0%

Other assets

₹141 cr12%

Peer comparison

largest in Capital Goods · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Hindustan Aeronautics Ltd.	3,33,052	4,980.00	35.7	8.12	22.7%
Bharat Electronics Ltd.	2,89,468	396.00	45.2	11.02	24.4%
Tata Motors Ltd.	1,56,797	425.50	24.8	10.26	41.3%
Bharat Heavy Electricals Ltd.	1,45,828	418.80	50.7	5.45	10.8%
ABB India Ltd.	1,43,541	6,774.00	55.7	15.37	27.6%
Siemens Ltd.	1,26,736	3,560.00	28.2	8.02	28.4%
Hitachi Energy India Ltd.	1,23,988	27,800.00	107.8	23.95	22.2%
CG Power and Industrial Solutions Ltd.	1,21,786	773.00	89.1	13.94	15.6%
Polycab India Ltd.	1,18,610	7,871.00	37.6	9.06	24.1%
Cummins India Ltd.	1,12,233	4,048.80	49.8	13.52	27.1%
SML Mahindra Limited	7,616	5,259.50	51.8	13.60	26.3%

StoxGud checklist: Neutral setup · 6/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-13.7%

6 months+35.3%

1 year+74.1%

3Y CAGR+59.3%

5Y CAGR+48.9%

10Y CAGR+15.2%

50-day avg₹5,806.93

200-day avg₹4,601.70

RSI (14)32

FAQs

What is the share price of SML Mahindra Limited?

SML Mahindra Limited (SMLMAH) closed at ₹5,259.50 on NSE on 06 Nov 2026.

What is the market cap of SML Mahindra Limited?

₹7,616 crore at the latest close.

What is the P/E ratio of SML Mahindra Limited?

51.8, on trailing-twelve-month earnings from its filings.

How fast is SML Mahindra Limited growing?

SML Mahindra Limited: revenue has compounded at 15.9% a year over three years; net profit at 100.5% a year. Latest-quarter revenue is up 20.7% year on year, profit down 44.4%.

How profitable is SML Mahindra Limited?

On a trailing-twelve-month basis return on equity is 26.3%, return on capital employed 36.2%, operating margin 8.5%, net margin 4.8%.

How much debt does SML Mahindra Limited have?

SML Mahindra Limited is lightly geared: debt to equity is 0.05 with borrowings of ₹30 cr against cash of ₹4 cr (balance sheet of 2026-09-30). Operating profit covers interest 13.0 times.

Financials parsed from SML Mahindra Limited's own XBRL filings to NSE (standalone), ₹ crore unless marked. Quarterly from SEP '07, annual from FY09, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). † = the company's standalone results as published on BSE, used for quarters before MAR '18 (full years marked † are summed from them); cross-checked against the NSE filings where both exist. Information only, not investment advice.