SML Mahindra CEO transitions to new role within group

1 min read Updated on 11 Jun 2026, 12:18 AM

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Anirudha BScanX News Team

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SML Mahindra announced the cessation of Dr. Venkataraman Srinivas as Executive Director and CEO effective June 30, 2026, due to his transition to a new role within the Mahindra Group. The Board approved the change on June 10, 2026, following a recommendation by the Nomination and Remuneration Committee. Consequently, Srinivas will cease to be a Director and Key Managerial Personnel under the Companies Act, 2013 and SEBI Listing Regulations. Executive Chairman Mr. Vinod Kumar Sahay will assume additional responsibilities from July 1, 2026, until a new CEO is appointed. The company confirmed the cessation is not due to any disagreement with the Board or management.

*this image is generated using AI for illustrative purposes only.

SML Mahindra announced that Dr. Venkataraman Srinivas will cease to be the Executive Director and Chief Executive Officer of the company effective June 30, 2026. The decision follows a recommendation by the Nomination and Remuneration Committee and is based on Srinivas's transition to a new role within the Mahindra Group. Consequently, he will cease to be a Director and Key Managerial Personnel of the company under the Companies Act, 2013 and the SEBI Listing Regulations from the said date.

Leadership Transition

The Board of Directors approved the cessation at its meeting held on June 10, 2026. Following the departure, Mr. Vinod Kumar Sahay, the Executive Chairman, will take on additional responsibilities effective July 1, 2026. This interim arrangement will remain in place until the appointment of a new CEO.

Regulatory Disclosures

The company has disclosed that the cessation is not due to any disagreement with the Board or management. The detailed information regarding the change is provided in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The resignation letter from Dr. Venkataraman Srinivas has been submitted to the exchanges.

Detail	Information
Cessation Date	June 30, 2026
Reason	Transition to new role within Mahindra Group
Interim Charge	Mr. Vinod Kumar Sahay, Executive Chairman
Effective Date of Interim Charge	July 1, 2026

Historical Stock Returns for SML Mahindra

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+5.33%	+3.52%	+3.19%	+1.27%	+105.91%	+696.19%

What criteria will the Board prioritize when selecting a permanent successor to Dr. Srinivas?

How might the interim leadership structure under Mr. Sahay influence the company's strategic direction?

What specific new role will Dr. Srinivas assume within the Mahindra Group?

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SML Mahindra sales rise 11.6% in May 2026

1 min read Updated on 09 Jun 2026, 04:32 AM

Reviewed by

Jubin VScanX News Team

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SML Mahindra Limited reported improved operational performance for May 2026 with sales rising to 1,678 units from 1,503 units in the previous year. Production increased to 1,729 units, while exports surged to 89 units compared to 40 units in May 2025.

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SML Mahindra Limited reported an increase in commercial vehicle production, sales, and exports for May 2026, reflecting improved operational performance compared to the same period in the previous year. The company submitted these figures to the stock exchanges on June 8, 2026, detailing its performance in the trucks and buses segment.

The data indicates a rise in total sales volume, which reached 1,678 units in May 2026, up from 1,503 units in May 2025. This growth was supported by a corresponding increase in production activity. Manufacturing output climbed to 1,729 units during the month under review, compared to 1,618 units produced in the corresponding month of the previous fiscal year.

Exports also witnessed a substantial surge during the period. The company shipped 89 units overseas in May 2026, a significant increase from the 40 units exported in May 2025. The filing was signed by Parvesh Madan, Company Secretary & Compliance Officer.