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Time of India
7 days ago
- Automotive
- Time of India
Mahindra-SML deal: M&M acquires 58.96% in SML Isuzu for Rs 555 crore, renames it SML Mahindra
Mahindra & Mahindra Ltd (M&M) on Saturday said it has completed the acquisition of a 58.96% controlling stake in commercial vehicle maker SML Isuzu Ltd from Japan's Sumitomo Corporation and Isuzu Motors for Rs 555 crore. Following the buyout, the company has been renamed 'SML Mahindra Ltd', M&M said in a statement. The reconstituted board will be chaired by Mahindra Group veteran Vinod Sahay, who has been appointed Executive Chairman effective August 3, 2025. Dr Venkat Srinivas took charge as Executive Director and CEO from August 1, PTI reported. Both leaders will continue in their existing roles—Sahay as President of Aerospace & Defence, Trucks, Buses & Construction Equipment at Mahindra Group, and Srinivas as Business Head for Mahindra Truck & Bus (MTB) and Construction Equipment (CE). The acquisition also triggers a mandatory open offer to acquire up to 26% stake from public shareholders, in line with SEBI's takeover regulations. M&M said the move is a significant step toward expanding its presence in the >3.5-tonne commercial vehicle (CV) category, where its current market share is just 3%, compared to 54.2% in the sub-3.5-tonne light commercial vehicle segment. The company aims to double its market share in the segment to 6% immediately, with a medium-term goal of 10–12% by FY31 and over 20% by FY36. SML, established in 1983, is a listed firm with nationwide presence and a strong position in the intermediate and light commercial vehicle (ILCV) bus segment, where it commands a 16% market share. The Competition Commission of India had approved the transaction in June. The board's resolution to rename the company as 'SML Mahindra Limited' is subject to clearances from the Registrar of Companies (RoC), Central Registration Centre, Ministry of Corporate Affairs, and shareholders. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
01-08-2025
- Business
- Time of India
Mahindra Farm Equipment sales rise 6% in July
Mahindra & Mahindra's Farm Equipment business reported total tractor sales of 28,708 units in July 2025, marking a 6 per cent increase compared to 27,209 units in July 2024. This includes both domestic and export sales . Domestic and export performance Domestic sales stood at 26,990 units, showing a 5 per cent rise from 25,587 units sold in the same month last year. Export volumes reached 1,718 units, up 6 per cent from 1,622 units a year earlier. Veejay Nakra, President – Farm Equipment Business, Mahindra & Mahindra Ltd. said, 'We have sold 26,990 tractors in the domestic market during the month of July 2025, a growth of 5 per cent over last year. This performance was driven by sustained land preparation activities, supported by robust cash flows in rural markets following the conclusion of Rabi crop harvesting. Additionally, the normal progression of monsoon across most regions further contributed to good demand during the onset of sowing for the Kharif season . In the exports market, we have sold 1,718 tractors, a growth of 6 per cent over last year.' Year-to-date sales as of July 2025 stood at 1,62,797 units, reflecting a 9 per cent increase compared to 1,48,676 units in the corresponding period of FY25. Domestic sales during the same period reached 1,56,189 units, while exports were at 6,608 units.
Business Upturn
01-08-2025
- Automotive
- Business Upturn
Mahindra July sales: Domestic SUV sales up 20%, commercial and export volumes surge
Mahindra reports 26% growth in July; strong domestic SUV, commercial vehicle, and export sales. By News Desk Published on August 1, 2025, 10:08 IST Mahindra & Mahindra Ltd. announced strong performance across both its automotive and farm equipment businesses for the month of July 2025, driven by robust demand for SUVs, commercial vehicles, and tractors. Auto segment highlights Mahindra's total auto sales for July 2025 stood at 83,691 units, marking a 26% year-on-year growth, including exports. In the Utility Vehicles (SUV) category, domestic sales touched 49,871 units, up 20% from July 2024. Overall UV sales, including exports, were 50,835 units. The growth was attributed to the successful launch of the XUV 3XO 'REVX' series and the commencement of deliveries for Pack 2 variants of the BE 6 and XUV 9E models. In the commercial vehicle space: LCV 2–3.5T segment grew 12% YoY to 17,701 units. LCV >3.5T and MHCV segments saw a 20% rise, with 1,107 units sold. Three-wheeler sales, including electric variants, jumped 164% to 9,475 units. Total exports increased by 83% to 2,774 units in July. Farm equipment business Mahindra's Farm Equipment Business (FEB) also posted steady gains. In July 2025, the company sold 26,990 tractors in the domestic market, up 5% from the same period last year. Total tractor sales, including exports, reached 28,708 units, a 6% YoY growth. Exports rose to 1,718 units, up 6% from July 2024. According to the company, sustained land preparation activity, favorable rural cash flows post-Rabi harvest, and a well-progressing monsoon supported tractor demand, especially ahead of the Kharif sowing season. Year-to-date performance (April–July FY26) Auto – UV segment: 2,01,938 units sold domestically (22% growth) FEB – Domestic: 1,56,189 tractors sold (10% growth) FEB – Total (incl. exports): 1,62,797 units sold (9% growth) Mahindra continues to hold leadership positions in both the SUV and tractor markets and is investing in advanced mobility, electric platforms, and last-mile connectivity solutions through its subsidiaries. Ahmedabad Plane Crash News desk at
Economic Times
30-07-2025
- Automotive
- Economic Times
Mahindra & Mahindra posts 24% rise in net profit as market share expands in auto and farm segments
Mahindra & Mahindra Ltd (M&M) posted a 24% year-on-year rise in consolidated net profit to ₹4,083 crore for the quarter ended June buoyed by robust operational performance of its farm and automotive verticals. ADVERTISEMENT Consolidated revenue expanded 22% to ₹45,529 crore, reflecting broad-based growth across core and group companies. The company's auto segment continued to gain momentum, with SUV volumes rising 22% and revenue market share touching 27.3%, up 5.7 percentage points year-on-year. It also retained its leadership in the light commercial vehicle (LCV) segment under 3.5 tonnes. In the farm equipment space, M&M expanded its tractor market share to 45.2%—the highest ever for a quarter—on the back of a 10% growth in sales volume."This was a strong quarter for cash generation. Despite infusing close to Rs2,500 crores into two subsidiaries via rights issues, our cash balance grew quarter-over-quarter,' Anish Shah, group CEO and managing director said in a quarterly earnings call with Q1FY26, the standalone entity contributed 74.5% to consolidated net sales and 84.5% to consolidated net profit, up by 2.1 and 4.9 percentage points respectively, underlying a stronger relative performance by the standalone business compared to the overall group ADVERTISEMENT "Our auto and farm businesses are firing on all cylinders," said Rajesh Jejurikar, Executive Director & CEO – Auto and Farm Sector. "We've seen significant market share gains in SUVs and tractors while continuing to deliver strong growth across categories."He said that the core tractor business for both domestic and exports, excluding farm machinery and power, achieved a PBIT margin of 20%. ADVERTISEMENT Beyond its core verticals, M&M's subsidiaries also contributed meaningfully. Mahindra Finance grew its assets under management by 15%, while Tech Mahindra reported an improvement in operating performance. Mahindra Lifespaces, Club Mahindra, and Mahindra Logistics also registered healthy traction, reinforcing the company's diversified growth sustained leadership in key product segments, new launches in the pipeline, and a focus on operational discipline, M&M remains well-positioned to build on its momentum through the rest of FY26, the company said. ADVERTISEMENT "Rural sentiment is stronger, particularly in the tractor business, while urban sentiment remains weak. However, fundamentals are solid, and with anticipated rate cuts and improved liquidity, we expect urban sentiment to recover,' said Shah. Jejurikar said M&M plans new establishments in markets like Australia and South Africa and has a strong sales optimism for the festive season. "The auto launch pipeline remains strong, with new variants and models planned for FY26 and FY27,' he said. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
30-07-2025
- Automotive
- Time of India
Mahindra & Mahindra posts 24% rise in net profit as market share expands in auto and farm segments
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mahindra & Mahindra Ltd (M&M) posted a 24% year-on-year rise in consolidated net profit to ₹4,083 crore for the quarter ended June buoyed by robust operational performance of its farm and automotive revenue expanded 22% to ₹45,529 crore, reflecting broad-based growth across core and group company's auto segment continued to gain momentum, with SUV volumes rising 22% and revenue market share touching 27.3%, up 5.7 percentage points year-on-year. It also retained its leadership in the light commercial vehicle (LCV) segment under 3.5 the farm equipment space, M&M expanded its tractor market share to 45.2%—the highest ever for a quarter—on the back of a 10% growth in sales volume."This was a strong quarter for cash generation. Despite infusing close to Rs2,500 crores into two subsidiaries via rights issues, our cash balance grew quarter-over-quarter,' Anish Shah, group CEO and managing director said in a quarterly earnings call with Q1FY26, the standalone entity contributed 74.5% to consolidated net sales and 84.5% to consolidated net profit, up by 2.1 and 4.9 percentage points respectively, underlying a stronger relative performance by the standalone business compared to the overall group"Our auto and farm businesses are firing on all cylinders," said Rajesh Jejurikar, Executive Director & CEO – Auto and Farm Sector. "We've seen significant market share gains in SUVs and tractors while continuing to deliver strong growth across categories."He said that the core tractor business for both domestic and exports, excluding farm machinery and power, achieved a PBIT margin of 20%.Beyond its core verticals, M&M's subsidiaries also contributed meaningfully. Mahindra Finance grew its assets under management by 15%, while Tech Mahindra reported an improvement in operating performance. Mahindra Lifespaces, Club Mahindra, and Mahindra Logistics also registered healthy traction, reinforcing the company's diversified growth sustained leadership in key product segments, new launches in the pipeline, and a focus on operational discipline, M&M remains well-positioned to build on its momentum through the rest of FY26, the company said."Rural sentiment is stronger, particularly in the tractor business, while urban sentiment remains weak. However, fundamentals are solid, and with anticipated rate cuts and improved liquidity, we expect urban sentiment to recover,' said said M&M plans new establishments in markets like Australia and South Africa and has a strong sales optimism for the festive season. "The auto launch pipeline remains strong, with new variants and models planned for FY26 and FY27,' he said.
