SML Isuzu Limited , a prominent player in the commercial vehicle sector, has announced significant changes to its leadership team and statutory auditors. The changes, approved by the company's Board of Directors, mark a new chapter in SML Isuzu's corporate journey.

New Leadership Appointments

The Board has approved several key appointments and changes:

• Mr. Vinod Kumar Sahay has been appointed as Executive Chairman effective August 3, 2025. Mr. Sahay, previously appointed as an Additional Director and Executive Director, brings extensive experience from his roles at Mahindra Group and Tata Motors.

• Mr. Chandra Shekhar Verma has stepped down from the Chairman role but will continue as a Non-Executive Independent Director.

• Mr. Pushkar Patwardhan has been appointed as CFO-Designate and will assume full CFO responsibilities from October 1, 2025.

• Mr. Ritesh Agrawal has joined as Chief Operating Officer.

Changes in CFO Position

• Mr. Rakesh Bhalla's term as CFO will end on September 30, 2025, after which he will transition to the role of Advisor to Executive Director & CEO.

Organizational Restructuring

Due to organizational restructuring:

• Mr. Sandeep Chandna and Mr. Vikas Sharma have ceased to be Senior Management Personnel but will remain with the company.

Change in Statutory Auditors

• Walker Chandiok & Co LLP has resigned as statutory auditors, citing independence concerns related to non-audit services provided to the holding company Mahindra & Mahindra.

• B S R & Co. LLP has been appointed as the new statutory auditors to fill the vacancy until the next Annual General Meeting (AGM). The board has approved their appointment for a five-year term, subject to shareholder consent.

These changes reflect a significant shift in SML Isuzu's leadership structure and corporate governance. The new leadership team and auditors are expected to guide the company through its next phase of growth and development in the commercial vehicle sector.

SML Isuzu Limited , a prominent player in the commercial vehicle sector, has announced significant changes in its ownership structure alongside impressive sales growth for July 2025.

Ownership Transition

The company has disclosed that Mahindra & Mahindra Limited (M&M) has acquired a controlling stake in SML Isuzu. On August 1, 2025, M&M completed the acquisition of 85,33,053 equity shares, representing 58.96% of SML Isuzu's share capital. This transaction involved the purchase of 43.96% stake from Sumitomo Corporation, Japan, and 15% stake from Isuzu Motors Limited, Japan.

As a result of this change:

• M&M has been classified as the new 'promoter' of SML Isuzu.
• Sumitomo Corporation has ceased to be a 'promoter' of the company.
• The company's name is set to change from "SML Isuzu Limited" to "SML Mahindra Limited", subject to necessary approvals.

Board Restructuring

Following the ownership change, SML Isuzu's board has undergone significant restructuring:

• Mr. Vinod Kumar Sahay and Dr. Venkataraman Srinivas have been appointed as Executive Directors.
• Ms. Mahima Chugh joins as a Non-Executive Non-Independent Director.
• Mr. Arun Kumar Malhotra, Ms. Smita Mankad, and Mr. Ravi Venkatraman have been appointed as Non-Executive Independent Directors.

Concurrently, seven directors, including the Managing Director and CEO, have resigned from their positions.

Strong Sales Performance

Amidst these corporate changes, SML Isuzu has reported robust sales figures for July 2025:

The company witnessed an overall sales growth of 18.60% in July 2025 compared to the same month last year. Cargo vehicles showed a particularly strong performance with a 53.20% year-on-year increase.

For the April-July 2025 period, SML Isuzu's total sales grew by 13.80% compared to the same period in the previous year, with cargo vehicles again leading the growth at 48.10%.

These figures indicate a robust demand for SML Isuzu's products, particularly in the cargo vehicle segment, suggesting a positive outlook for the company as it enters this new phase under Mahindra & Mahindra's leadership.

As SML Isuzu navigates through this transition, the industry will be watching closely to see how the new ownership and management team leverage this sales momentum and potentially integrate with M&M's existing automotive operations.