SML Mahindra share price today

SML Mahindra Ltd's share price was ₹4,908.20 at the close on 3 November 2026. It has been rising for 75 weeks. That is 4.7% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹2,765 and ₹6,824, and at that close it sat 53% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today SML Mahindra Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 11 years the share price moved +630% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

2. Indian funds and insurers (DIIs) raised their stake for 7 quarters in a row

   From 0% to 2.7% of the company by the September 2026 quarter.

3. Lowest operating margin in 16 quarters

   Operating margin was 4.3% in the September 2026 quarter, against 8% a year earlier.

For July to September 2026 (the quarter ended 30 September 2026), SML Mahindra reported revenue of ₹670 crore, up 20.7% from ₹555 crore a year earlier, and a profit of ₹12.0 crore, down 42.9% from ₹21.0 crore.

SML Mahindra results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 20 April 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

SML Mahindra closed at ₹4,908.20 on 3 November 2026, up 61.7% from ₹3,035.60 a year earlier (31 October 2025) and up 573.3% over five years. Its highest weekly close since February 2016 was ₹6,824.10 on 25 September 2026.

SML Mahindra share price: then and now

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

563 weekly closes from 26 February 2016 to 3 November 2026.

3 Nov 2026: SML Mahindra closed at ₹4,908.20, up 1.3% on the week and down 21.5% on the month. Results for July to September 2026: Revenue up 20.7% and profit down 42.9% on a year earlier.

Earlier

• 3 Jul 2026: ex-date for a dividend of ₹23.50 a share.
• 20 Apr 2026: SML Mahindra held its results call for January to March 2026.

SML Mahindra paid ₹23.50 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.48% at the ₹4,908.20 close on 3 November 2026. The last was a dividend of ₹23.50 a share, ex-date 3 July 2026.

SML Mahindra dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. SML Mahindra Ltd paid out 21% of its profit as dividends in FY26, and it paid a dividend in 9 of its last 13 reported years.

From the NSE corporate-actions record, read 4 November 2026.

On the call for January to March 2026, held on 20 April 2026, SML Mahindra's management spoke about the quarter; the main points are below.

“The main thesis behind this acquisition was growth. We are two challenger brands which have come together and ultimately the aim is to become a top three player”Amarjyoti Barua, Mahindra Group CFO, on the call for January to March 2026

Source: the call transcript.

From the call for January to March 2026, 20 April 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

SML Mahindra is not on any of our India lists this week.

SML Mahindra Ltd earned ₹12.0 Cr of net profit in the Sep 2026 quarter, −42.9% on the same quarter a year earlier. Full-year FY26 profit was ₹160 Cr. Over 10 years profit has grown 12.1% a year on average. That is 1.8% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹160 Cr (+31.1% on the year before).

Why profit moved: revenue changed +20.7% on a year earlier and the margin moved −3.7 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +413.6% and revenue +28.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

SML Mahindra Ltd reported ₹670 Cr of revenue in the Sep 2026 quarter, +20.7% on the same quarter a year earlier. That is the 7th quarter in a row with growth on the year before. Over 10 years it has grown 9.3% a year on average. The last full year, FY26, came in at ₹2,838 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹3,065 Cr.

FY26 revenue was ₹2,838 Cr, +18.3% on the year before.

Recent pace: the last four quarters grew +28.2% on average, against 9.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +22.4%, against +13.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +4.2%, against +9.7% a year (rolling over).

SML Mahindra Ltd's operating margin was 4.3% in the Sep 2026 quarter, 3.7 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between −12.0% and 10.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −3.3 percentage points on the year while gross margin changed −3.0 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold.

Over the last 3 years, 73% of SML Mahindra Ltd's reported profit came in as cash from its operations, so most of the profit is real cash. In FY26 it brought in ₹156 Cr of operating cash against ₹160 Cr of profit. After ₹56.0 Cr of spending on assets, ₹100 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 73% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets.

SML Mahindra Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 78 days in FY26, down from 84 days in FY21. It spent ₹165 Cr on assets over the last 3 years. Customers take 35 days to pay, and stock sits for 111 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,838 Cr, each day of that cycle ties up about ₹7.8 Cr, so roughly ₹606 Cr is tied up in the business at any time.

FY26: customers took 35 days to pay and stock sat for 111 days, about 3.7 months of sales sitting as stock, for a full cycle of 78 days, shorter than FY21's 84.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 111 days. Customers pay about 35 days after that. Suppliers are paid at 68 days. Together that makes the 78-day cycle.

Spending on assets: ₹165 Cr over the last 3 years, against ₹148 Cr of depreciation (the yearly wear and tear on existing assets). So it is building a little beyond replacing what wears out. Work still in progress is ₹47.0 Cr (FY26): assets paid for that are not earning yet.

In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean.

SML Mahindra Ltd's P/E is 48.3×, in the middle of its own history: higher than 61% of past readings. Its usual P/E (the middle reading) is 38.0×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.