SML Mahindra sets July 21 for 42nd AGM, ₹23.50 dividend
SML Mahindra Limited will hold its 42nd AGM on July 21, 2026, via video conferencing to approve financial results and a final dividend of ₹23.50 per share. The company reported a 32% rise in net profit to ₹216.79 crores for FY26. Shareholders must submit TDS documents by July 10, 2026, and can vote remotely from July 17 to July 20.
*this image is generated using AI for illustrative purposes only.
SML Mahindra Limited has scheduled its 42nd Annual General Meeting (AGM) for July 21, 2026, at 11:30 AM IST through video conferencing. The Board recommended a final dividend of ₹23.50 per share, aggregating to ₹34.01 crores, subject to shareholder approval. The dividend will be paid to members whose names appear on the register of members as on the record date of July 3, 2026. The company has dispatched the notice and annual report for the financial year 2025-26 to members on June 27, 2026.
The remote e-voting facility will commence on July 17, 2026, at 9:00 AM and conclude on July 20, 2026, at 5:00 PM. The cut-off date for determining eligibility to vote is July 14, 2026. Members attending the AGM who have not cast their vote by remote e-voting shall be eligible to vote through e-voting during the meeting. The facility is provided by National Securities Depository Limited (NSDL).
Shareholders are requested to submit requisite documents for determining the appropriate Tax Deducted at Source (TDS) rate by July 10, 2026, to ensure compliance with the Income Tax Act, 1961. The AGM agenda includes the approval of audited financial statements for FY26 and the re-appointment of Ms. Mahima Chugh, a director liable to retire by rotation.
Financial Performance for FY26
The company reported a revenue from operations of ₹2837.92 crores for FY26, compared to ₹2398.99 crores in the previous year. Net profit for the year stood at ₹216.79 crores, up from ₹163.99 crores in FY25. The net worth of the company increased to ₹519.34 crores as of March 31, 2026.
| Particulars | FY 2025-26 (₹ in crores) | FY 2024-25 (₹ in crores) |
|---|---|---|
| Revenue from operations | 2837.92 | 2398.99 |
| Net Profit | 216.79 | 163.99 |
| Profit Before Tax | 213.95 | 162.38 |
| Profit After Tax | 159.75 | 121.67 |
| Net Worth | 519.34 | 382.66 |
Proposed Related Party Transactions
The company seeks approval for transactions with Mahindra & Mahindra Limited across various categories. The total proposed value is ₹719.51 crores for FY 2026-27.
| Nature of Transaction | Amount (₹ in crores) |
|---|---|
| Sale of Goods | 255.00 |
| Purchase of Goods | 90.00 |
| Purchase of Assets | 15.00 |
| Services Received | 29.51 |
| Services Rendered | 10.00 |
| Borrowings | 320.00 |
| Total | 719.51 |
Historical Stock Returns for SML Mahindra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.61% | -0.22% | +4.23% | +8.54% | +114.85% | +761.71% |
How will the proposed ₹320 crore borrowing from Mahindra & Mahindra impact SML Mahindra's leverage ratios and interest coverage in FY27?
Can the company sustain the 32% revenue growth momentum seen in FY26 given the increased dependency on related party transactions?
What strategic initiatives are driving the margin expansion, and will these be sufficient to offset potential raw material inflation in the coming year?
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