SML Mahindra Limited reported a 3% year-on-year increase in total sales for June 2026, reaching 1,930 units compared to 1,871 units in the previous year. The growth was driven primarily by a strong performance in the passenger vehicles segment, which offset a significant decline in cargo vehicle sales. For the first quarter of fiscal year 2026-27, total sales rose 10% to 5,438 units from 4,926 units in the corresponding period of the prior year.

Passenger Vehicles Drive Growth

Passenger vehicle sales surged 13% in June 2026 to 1,575 units from 1,391 units in June 2025. This segment also showed robust growth in the April–June quarter, with sales increasing 19% to 4,329 units compared to 3,644 units in the same quarter of the previous fiscal year. The rise in passenger vehicle demand contributed significantly to the company's overall sales volume during the period.

Cargo Vehicles Segment Under Pressure

In contrast, the cargo vehicles segment faced headwinds, with sales dropping 26% to 355 units in June 2026 from 480 units in June 2025. The quarterly performance for cargo vehicles also reflected a downward trend, recording a 13% decline to 1,109 units for the three months ended June 2026, compared to 1,282 units in the prior year's corresponding quarter.

Sales Breakdown: June 2026 and Q1 FY2026-27

The following table details the sales figures for SML Mahindra Limited for the month and quarter ended June 2026:

Regulatory Disclosure

The disclosure was submitted to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Parvesh Madan, Company Secretary & Compliance Officer, signed the filing on behalf of SML Mahindra Limited.

SML Mahindra Limited appointed Vimal Agarwal as its Internal Auditor effective July 1, 2026, succeeding K. N. Vaidyanathan who ceased to hold the position on June 30, 2026. The Board of Directors approved the appointment based on the recommendation of the Audit Committee. This leadership change ensures continuity in the company's internal audit and governance framework.

Mr. K. N. Vaidyanathan ceased to be the Internal Auditor at the close of business hours on June 30, 2026, upon the conclusion of his term as the Group Chief Internal Auditor of Mahindra & Mahindra Limited, the Holding Company. His departure marks the end of his tenure with the firm effective immediately.

Mr. Vimal Agarwal assumes the role of Internal Auditor effective July 1, 2026, concurrently with his appointment as the Group Chief Internal Auditor of Mahindra & Mahindra Limited. He is a Chartered Accountant and MBA with 25 years of experience in finance, governance, and business strategy across multinational corporations and listed Indian entities.

Profile of Vimal Agarwal

Agarwal is recognized for strengthening governance frameworks, enhancing internal controls, and enabling Boards and leadership teams in shaping and executing growth strategies. His career includes leadership roles at PepsiCo India, where he drove financial operations, planning & analytics, and supply chain finance while embedding strong internal controls.

Previously, as CFO of Mahindra Lifespaces, he partnered with business leaders to scale sales and increase market capitalization, leading fundraising, digitalization, and private equity joint ventures. Most recently, as CFO of Mahindra Holidays & Resorts over the last two years, he enabled a comprehensive growth strategy leveraging expertise in financial planning, investor relations, and performance optimization.

Key Appointment Details