Audited Financial Results for the fourth quarter and financial year ended 31st March, 2026
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 20 Apr 2026, 05:18 PM IST · BSE ID: 6fc59657-2e10-4f08-ac56-1f1622e0ef09
View Original BSE Filing (PDF)
💡
In Simple Terms
SML Mahindra reported full-year profits jumped 31% to Rs. 159.75 Crores with revenue growth of 18%, and declared a dividend of Rs. 23.50 per share.
🤖 AI Summary
- FY26 net profit Rs. 159.75 Crores, up 31.3% from Rs. 121.67 Crores in FY25
- Revenue from operations Rs. 2,837.92 Crores, up 18.3% YoY from Rs. 2,398.99 Crores
- Final dividend approved at 235% or Rs. 23.50 per share for FY26
- Unmodified audit opinion issued by M/s B S R & Co. LLP on FY26 results
- 42nd AGM scheduled 21 July 2026; dividend record date 3 July 2026
🔢 Key Numbers — exact figures from BSE filing, not rounded
Net Profit FY26
Rs. 159.75 Crores
31.3%
Revenue from Operations FY26
Rs. 2,837.92 Crores
18.3%
Final Dividend per Share
Rs. 23.50
Profit Before Tax FY26
Rs. 213.95 Crores
31.8%
Non-Current Borrowings
Rs. 10.65 Crores
-83.0%
Total Equity
Rs. 519.34 Crores
35.7%
Earnings Per Share FY26
Rs. 110.39
31.3%
Finance Costs FY26
Rs. 20.74 Crores
-30.6%
🏢 How This Affects the Company
Revenue expanded 18.3% to Rs. 2,837.92 Crores, reflecting sustained demand in trucks and buses segment. Growth outpaced profit expansion marginally, signalling cost discipline.
Net profit surged 31.3% to Rs. 159.75 Crores. Other equity strengthened to Rs. 504.86 Crores from Rs. 368.18 Crores. Non-current borrowings fell to Rs. 10.65 Crores from Rs. 62.55 Crores, showing deleveraging.
Inventories increased to Rs. 660.68 Crores from Rs. 577.99 Crores, indicating higher working capital deployment. Trade receivables marginally rose to Rs. 270.21 Crores from Rs. 265.25 Crores.
Current borrowings at Rs. 269.50 Crores remain elevated relative to operating cash generation. Interest coverage improved: finance costs fell to Rs. 20.74 Crores from Rs. 29.88 Crores YoY despite higher debt.
👥 What This Means For Shareholders
✅
Action Required
Ensure shares held in demat format by record date 3 July 2026 to receive final dividend of Rs. 23.50 per share.
👤
Who Is Affected
All registered shareholders as on record date 3 July 2026 are eligible for final dividend. Payment will be processed after 21 July 2026 AGM in permitted modes.
🔍
Management Signal
Board's approval of 235% dividend coupled with 83% debt reduction signals confidence in sustainable cash flows and capital allocation discipline.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
42nd AGM on 21 July 2026 — watch for any updates on dividend declaration and shareholder approvals
Dividend payment processing — track dividend dispatch after 21 July 2026 in permitted modes to shareholders
Q1 FY27 results — confirm if 18.3% revenue growth and 31.3% profit momentum sustains into new fiscal year
MEDIUM RISK
Inventory surge 14.2% YoY to Rs. 660.68 Crores signals potential demand headwinds or supply chain build. Current liabilities structurally higher than ideal for working capital stability.
💡 Investor Takeaway
FY26 delivered net profit of Rs. 159.75 Crores (up 31.3% YoY) on revenue of Rs. 2,837.92 Crores (up 18.3% YoY). Unmodified audit opinion confirms quality. Dividend of Rs. 23.50 per share approved. Debt reduced significantly to Rs. 10.65 Crores from Rs. 62.55 Crores.
⚖️ Strengths & Concerns
✅ Positives
- Net profit growth of 31.3% significantly outpaced 18.3% revenue growth, reflecting operational leverage and margin expansion
- Debt reduction: non-current borrowings cut 83% from Rs. 62.55 Crores to Rs. 10.65 Crores; finance costs down 30.6%
⚠️ Concerns
- Inventory surge to Rs. 660.68 Crores from Rs. 577.99 Crores (14.2% increase) strains working capital efficiency
- Current liabilities at Rs. 789.71 Crores remain 152% of current assets Rs. 988.72 Crores; tight liquidity structure
📅 Company Track Record
Prior year FY25 net profit was Rs. 121.67 Crores on revenue of Rs. 2,398.99 Crores. Q4 FY26 audited profit was Rs. 54.20 Crores. Company has maintained consistent dividend distribution and strengthened equity base from Rs. 382.66 Crores to Rs. 519.34 Crores year-on-year.
Based on publicly available historical data. For context only.