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SML Mahindra Limited (SMLMAH) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹57.3B

SM SML Mahindra Limited SMLMAH · NSE
Price₹3,958
Fair Value₹2,208
Upside-44.2%
Quality60/100
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Evidence: High Range ₹1,228 – ₹2,949

Fair value as of: Jul 3, 2026

From 26 valuation models · updated today

Share price +4.4% over the past month.

Price vs Fair Value (12 months)

₹5,103 ₹1,850 Fair Value ₹2,208 Jun 2025 Jul 2026

12‑month range ₹1,850 – ₹5,103 · fair‑value band ₹1,228 – ₹2,949 · the ₹3,958 price screens above the ₹2,208 fair value. As of Jul 3, 2026.

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Analysis

SML Mahindra Limited (SMLMAH) currently trades at ₹3,958, while our model-based Fair Value estimate is ₹2,208 — implying the stock looks roughly 44.2% overvalued today. We read business quality at 60/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, SML Mahindra Limited generated revenue of ₹28.4B at a net margin of 5.6%. Revenue grew 16.5% year over year. It earns a return on equity of 35.4%. Net debt stands at ₹2.7B. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) ₹28.4B
Revenue growth (YoY) +16.5%
Net margin 5.6%
Return on equity 35.4%
Free cash flow ₹707M FY2026
P/E ratio 35.8
More key figures
Operating margin 8.6%
EPS (TTM) ₹110.58
Dividend yield 0.6%
EPS growth (YoY) +2.3%
Net debt ₹2.7B FY2026

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

About the company

SML Mahindra Limited manufactures and sells commercial vehicles and related parts in India and internationally. The company's products include trucks and buses. It provides special application, cargo, and passenger vehicles. It offers its products through distributors and dealers. The company was formerly known as SML Isuzu Limited and changed its name to SML Mahindra Limited in October 2025. SML Mahindra Limited was incorporated in 1983 and is based in Mohali, India. As of August 1, 2025, SML Isuzu Limited operates as a subsidiary of Mahindra & Mahindra Limited.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

SML Mahindra Limited reported revenue of ₹28.3B in FY2026 versus ₹9.1B in FY2022, a compound +32.6%/yr. Reported net income was ₹1.6B in FY2026.

Revenue +32.6%/yr
FY22 ₹9.1B
FY23 ₹18.1B
FY24 ₹21.8B
FY25 ₹23.8B
FY26 ₹28.3B
Net income
FY22 −₹998M
FY23 ₹198M
FY24 ₹1.1B
FY25 ₹1.2B
FY26 ₹1.6B

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Frequently asked questions

Is SML Mahindra Limited (SMLMAH) undervalued?
As of Jul 3, 2026, our model estimates a fair value of ₹2,208 versus a price of ₹3,958 — about −44% (overvalued). Model-based estimate, not financial advice.
What is the fair value of SMLMAH?
Our model-based fair value for SML Mahindra Limited is ₹2,208 (as of Jul 3, 2026), built from audited fundamentals. The current price is ₹3,958.
What is the quality score of SMLMAH?
SML Mahindra Limited has a Quality Score of 60/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of SML Mahindra Limited (SMLMAH)?
SML Mahindra Limited reported trailing-twelve-month revenue of about ₹28.4B (latest available figure, as of Jul 3, 2026).
What is the net profit margin of SMLMAH?
The net profit margin of SML Mahindra Limited is about 5.6%, meaning it keeps roughly 5.6% of revenue as net income. Based on the latest reported figures.
Does SML Mahindra Limited pay a dividend?
SML Mahindra Limited currently shows a dividend yield of about 0.59% relative to its recent price (as of Jul 3, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.