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Last Updated: April 2, 2026, 3:41 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 505192 | NSE: SMLMAH

SML Mahindra Ltd (SML ISUZU Ltd): Intrinsic Value & Share Price Analysis

Fair Value

₹3,250.79Overvalued by 18.12%vs CMP ₹3,970.00

P/E (36.2) × ROE (36.4%) × BV (₹307.00) × DY (0.45%)

₹3,292.00Overvalued by 17.08%vs CMP ₹3,970.00
MoS: -20.6% (Negative)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹9,178.8226%Under (+131.2%)
Graham NumberEarnings₹869.8216%Over (-78.1%)
Earnings PowerEarnings₹375.4513%Over (-90.5%)
DCFCash Flow₹2,503.6613%Over (-36.9%)
Net Asset ValueAssets₹306.188%Over (-92.3%)
EV/EBITDAEnterprise₹1,780.4210%Over (-55.2%)
Earnings YieldEarnings₹1,095.308%Over (-72.4%)
Revenue MultipleRevenue₹1,658.086%Over (-58.2%)
Consensus (8 models)₹3,292.00100%Overvalued
Key Drivers: EPS CAGR 182.4% lifts DCF — verify sustainability. | Wide model spread (₹306–₹9,179) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 182.4%

*Investments are subject to market risks

Investment Snapshot

71
SML Mahindra Ltd (SML ISUZU Ltd) scores 71/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health73/100 · Strong
ROCE 27.1% ExcellentROE 36.4% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money45/100 · Moderate
FII holding down -14.63% (6mo) SellingDII holding up 0.60% MF buyingPromoter holding at 59.0% Stable
Earnings Quality65/100 · Strong
OPM expanding (0% → 9%) Improving
Quarterly Momentum80/100 · Strong
Revenue (4Q): +17% YoY GrowingProfit (4Q): +31% YoY Strong
Industry Rank85/100 · Strong
P/E 36.2 vs industry 31.0 In-lineROCE 27.1% vs industry 22.4% Above peersROE 36.4% vs industry 25.7% Above peers3Y sales CAGR: 37% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

SML Mahindra Ltd (SML ISUZU Ltd) Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
10/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 36.2 vs Ind 31.0 | ROCE 27.1% | ROE 36.4% | CFO/NP N/A
Balance Sheet Stress
0/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.00x | IntCov 0.0x | Current 0.00x | Borrow/Reserve 0.59x
Cash Flow Reliability
43/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹122 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -1.19 pp | DII +0.01 pp | Prom 0.00 pp
Business Momentum
-20
Watch closely
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales -2.9% | Q NP -14.3% | Q OPM 0.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-17.1%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.59xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-1.19 ppLatest FII% minus previous FII%
DII Change+0.01 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-655Latest shareholder count minus previous count
Quarterly Sales Change-2.9%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-14.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change0.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:41 am

Market Cap 5,744 Cr.
Current Price 3,970
Intrinsic Value₹3,292.00
High / Low 5,348/1,442
Stock P/E36.2
Book Value 307
Dividend Yield0.45 %
ROCE27.1 %
ROE36.4 %
Face Value 10.0
PEG Ratio0.20

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for SML Mahindra Ltd (SML ISUZU Ltd)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
SML Mahindra Ltd (SML ISUZU Ltd) 5,744 Cr. 3,970 5,348/1,44236.2 3070.45 %27.1 %36.4 % 10.0
Olectra Greentech Ltd 8,420 Cr. 1,026 1,714/86758.9 1370.04 %20.5 %14.3 % 4.00
Force Motors Ltd 27,318 Cr. 20,733 26,486/7,86028.5 2,6610.19 %30.0 %20.8 % 10.0
Ashok Leyland Ltd 87,585 Cr. 149 215/95.224.3 21.42.10 %14.3 %28.8 % 1.00
Tata Motors Ltd 1,47,974 Cr. 402 538/3246.84 3161.49 %20.0 %28.1 % 2.00
Industry Average55,408.20 Cr5,256.0030.95688.480.85%22.38%25.68%5.40

All Competitor Stocks of SML Mahindra Ltd (SML ISUZU Ltd)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 328583632499386680746550332771846555539
Expenses 312540585459364608665505313681741513498
Operating Profit 164347392271814518901054241
OPM % 5%7%7%8%6%10%11%8%6%12%12%8%8%
Other Income 1220121222222
Interest 79578118679536
Depreciation 11101212121212121212121313
Profit before tax -12532213506229171902824
Tax % -86%-7%1%0%6%-4%25%24%29%26%25%26%25%
Net Profit -02732213524622153672118
EPS in Rs -0.0918.5121.9714.571.8536.1532.0615.060.3736.5946.2714.5512.12

Last Updated: February 4, 2026, 3:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 9:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 8811,1061,1661,3561,1351,4091,1545919241,8222,1962,3992,711
Expenses 8501,0361,0791,2461,0901,3351,1426609651,7402,0172,1642,433
Operating Profit 326987110457412-69-4182179235278
OPM % 4%6%7%8%4%5%1%-12%-4%4%8%10%10%
Other Income 5564345563568
Interest 6656111615232225303023
Depreciation 13202024283841464442484851
Profit before tax 18496884924-38-133-10017106162212
Tax % 2%24%25%25%10%20%-45%0%-1%-15%-1%25%
Net Profit 17375163820-21-133-10020108122158
EPS in Rs 12.0225.5335.3543.545.8713.52-14.55-92.24-68.9413.7174.5584.08109.53
Dividend Payout % 25%24%23%18%26%22%0%0%0%0%21%21%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)117.65%37.84%23.53%-87.30%150.00%-205.00%-533.33%24.81%120.00%440.00%12.96%
Change in YoY Net Profit Growth (%)0.00%-79.81%-14.31%-110.83%237.30%-355.00%-328.33%558.15%95.19%320.00%-427.04%

SML Mahindra Ltd (SML ISUZU Ltd) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Last Updated: September 5, 2025, 1:31 pm

Balance Sheet

Last Updated: January 7, 2026, 4:25 pm

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 14141414141414141414141414
Reserves 262288326389384399370241147163271368429
Borrowings 0225541212246185261298265421327254
Other Liabilities 274350332341377435289279357494506590496
Total Liabilities 5516757277859871,0958597968169371,2131,2991,193
Fixed Assets 143138171215365380426389349356340321368
CWIP 9274078352735161111598
Investments 0000000000000
Other Assets 399511515492587688429403450569861919817
Total Assets 5516757277859871,0958597968169371,2131,2991,193

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 16269-12121-3355150-47-1990-50177
Cash from Investing Activity + 22-103-13-89-98-58-47-28-7-42-46-61
Cash from Financing Activity + -1821117-3414610-976017-55127-148
Net Cash Flow 2-23-8-21586-15-8-731-32
Free Cash Flow 14434-791-132-6102-66-3849-87116
CFO/OP 527%109%9%132%-60%80%1,259%67%71%103%-27%76%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow32.0047.0032.0069.00-167.00-172.00-173.00-330.00-339.00-183.00-242.00-92.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

No data available for the Financial Efficiency data table.

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%43.96%58.97%58.97%
FIIs 16.68%15.11%15.28%15.43%15.81%15.32%15.35%15.32%15.24%15.73%1.80%0.61%
DIIs 0.00%0.00%0.00%0.00%0.00%0.07%0.05%0.00%0.04%0.29%0.63%0.64%
Public 39.34%40.92%40.76%40.59%40.22%40.65%40.63%40.72%40.76%40.02%38.60%39.78%
No. of Shareholders 25,68724,11324,88325,02325,44727,36729,46529,44529,91528,71637,37336,718

Shareholding Pattern Chart

No. of Shareholders

SML Mahindra Ltd (SML ISUZU Ltd): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Revenue From Operations [Net]2378.702179.671807.31912.28580.18
Other Operating Revenues20.3016.2614.2811.8911.30
Total Operating Revenues2398.992195.931821.59924.17591.48
Other Income6.055.413.125.964.49
Total Revenue2405.052201.341824.71930.13595.97
Cost Of Materials Consumed1726.481754.801491.83723.98440.92
Purchase Of Stock-In Trade87.8578.4178.4854.4037.17
Changes In Inventories Of FG,WIP And Stock-In Trade7.79-135.89-109.12-20.92-7.42
Employee Benefit Expenses206.26195.69172.45132.78133.47
Finance Costs29.8830.3525.0421.5123.34
Depreciation And Amortisation Expenses48.3547.5242.4343.5346.17
Other Expenses136.06124.00106.3175.1355.69
Total Expenses2242.672094.891807.431030.40729.34
Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax162.38106.4517.28-100.27-133.37
Profit/Loss Before Tax162.38106.4517.28-100.27-133.37
Current Tax3.620.000.000.000.00
Deferred Tax37.39-1.50-2.320.000.12
Tax For Earlier Years-0.310.08-0.24-0.510.00
Total Tax Expenses40.70-1.43-2.56-0.510.12
Profit/Loss After Tax And Before ExtraOrdinary Items121.67107.8819.84-99.76-133.49
Profit/Loss From Continuing Operations121.67107.8819.84-99.76-133.49
Profit/Loss For The Period121.67107.8819.84-99.76-133.49
Basic EPS (Rs.) 84.0874.5413.71-68.94-92.24
Diluted EPS (Rs.) 84.0874.5413.71-68.94-92.24
Equity Share Dividend23.150.000.000.000.00
Equity Dividend Rate (%)180.00160.000.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

SML Mahindra Ltd. is a Public Limited Listed company incorporated on 26/07/1983 and has its registered office in the State of Punjab, India. Company's Corporate Identification Number(CIN) is L50101PB1983PLC005516 and registration number is 005516. Currently Company is involved in the business activities of Manufacture of motor vehicles. Company's Total Operating Revenue is Rs. 2398.99 Cr. and Equity Capital is Rs. 14.48 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto - LCVs/HCVsVillage Asron, Distt. Shahid Bhagat Singh Nagar, Nawanshahr Punjab 144533Contact not found
Management
NamePosition Held
Mr. Vinod Kumar SahayExecutive Chairman
Mr. Chandra Shekhar VermaIndependent Director
Dr. Venkataraman SrinivasExecutive Director & CEO
Mr. Ravi VenkatramanIndependent Director
Mr. Arun Kumar MalhotraIndependent Director
Mr. Smita MankadIndependent Director
Mr. Mahima ChughNon Exe.Non Ind.Director

FAQ

What is the intrinsic value of SML Mahindra Ltd (SML ISUZU Ltd) and is it undervalued?

As of 05 April 2026, SML Mahindra Ltd (SML ISUZU Ltd)'s intrinsic value is ₹3292.00, which is 17.08% lower than the current market price of ₹3,970.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (36.4 %), book value (₹307), dividend yield (0.45 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of SML Mahindra Ltd (SML ISUZU Ltd)?

SML Mahindra Ltd (SML ISUZU Ltd) is trading at ₹3,970.00 as of 05 April 2026, with a FY2026-2027 high of ₹5,348 and low of ₹1,442. The stock is currently in the middle of its 52-week range. Market cap stands at ₹5,744 Cr..

How does SML Mahindra Ltd (SML ISUZU Ltd)'s P/E ratio compare to its industry?

SML Mahindra Ltd (SML ISUZU Ltd) has a P/E ratio of 36.2, which is above the industry average of 30.95. The premium over industry average may reflect growth expectations or speculative interest.

Is SML Mahindra Ltd (SML ISUZU Ltd) financially healthy?

Key indicators for SML Mahindra Ltd (SML ISUZU Ltd): ROCE of 27.1 % indicates efficient capital utilization; ROE of 36.4 % shows strong shareholder returns. Dividend yield is 0.45 %.

Is SML Mahindra Ltd (SML ISUZU Ltd) profitable and how is the profit trend?

SML Mahindra Ltd (SML ISUZU Ltd) reported a net profit of ₹122 Cr in Mar 2025 on revenue of ₹2,399 Cr. Compared to ₹-100 Cr in Mar 2022, the net profit shows an improving trend.

Does SML Mahindra Ltd (SML ISUZU Ltd) pay dividends?

SML Mahindra Ltd (SML ISUZU Ltd) has a dividend yield of 0.45 % at the current price of ₹3,970.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in SML Mahindra Ltd (SML ISUZU Ltd). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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