SML Mahindra quarterly results

Q2 FY27 · Jul–Sep 2026

₹ crore	Q2 FY27	Q2 FY26	Change
Revenue	670	555	+20.7%
EBITDA	28.5	41.9	−32.0%
EBITDA margin	4.3%	7.6%	−3.3 pts
Profit before tax	15.9	28.3	−44.0%
Net profit	11.7	21.1	−44.4%
EPS	₹8.09	₹14.55	−44.4%

Every quarter

₹ crore except per share

Tap a line for its trend	Q2 FY27Sep 2026	Q1 FY27Jun 2026	Q4 FY26Mar 2026	Q3 FY26Dec 2025	Q2 FY26Sep 2025	Q1 FY26Jun 2025	Q4 FY25Mar 2025	Q3 FY25Dec 2024	Q2 FY25Sep 2024	Q1 FY25Jun 2024	Q4 FY24Mar 2024	Q3 FY24Dec 2023	Earlier quartersAlpha Plus

Expenses
	670	958	898	539	555	846	771	332	550	746	680	386	Earlier quartersEvery year the company has filed comes with Alpha Plus.
	1.6	1.2	2.6	1.6	2.1	2.1	1.7	1.6	1.6	1.2	2.0	1.0
	671	959	900	541	557	848	773	333	551	747	682	387
	523	622	624	497	448	570	540	341	363	483	498	412
	25.8	32.0	27.0	22.7	24.1	26.2	24.7	18.8	21.4	23.0	20.4	17.8
	−22.5	89.4	53.2	−119	−52.2	46.1	17.2	−121	40.1	71.7	−3.2	−141
	67.3	68.9	53.7	59.2	56.7	58.0	52.7	50.4	49.0	54.2	50.4	49.5
	0.9	2.7	7.0	5.8	2.9	5.1	8.9	7.1	5.8	8.1	10.7	7.9
	13.4	13.3	13.4	13.3	12.9	12.4	12.1	12.1	12.1	12.1	12.1	12.0
	47.4	44.8	49.2	39.1	36.5	40.3	46.9	24.4	31.8	33.1	42.7	25.6
	656	873	828	517	529	758	702	333	523	685	631	384
	28.5	100	90.4	41.1	41.9	105	90.4	18.3	44.8	81.0	71.2	21.8
	15.2	86.8	77.0	27.8	29.0	92.6	78.4	6.2	32.7	68.9	59.1	9.8
Profit
	15.9	85.3	72.6	23.5	28.3	89.6	71.1	0.8	28.5	62.0	50.4	2.9
	15.9	85.3	72.6	23.5	28.3	89.6	71.1	0.8	28.5	62.0	50.4	2.9
	4.7	24.2	15.3	6.0	6.9	24.2	2.4	0.0	0.8	0.0	0.1	0.0
	−0.6	−2.5	3.1	−0.0	0.3	−1.6	15.8	0.2	5.9	15.6	−2.0	0.2
	4.2	21.7	18.4	6.0	7.2	22.6	18.2	0.2	6.7	15.6	−1.9	0.2
	11.7	63.6	54.2	17.5	21.1	67.0	53.0	0.5	21.8	46.4	52.3	2.7
	11.7	63.6	54.2	17.5	21.1	67.0	53.0	0.5	21.8	46.4	52.3	2.7
	−0.4	−0.4	2.7	1.0	−0.4	−0.4	−1.2	−0.1	−0.1	−0.1	1.2	−0.5
	11.3	63.2	56.9	18.6	20.7	66.6	51.7	0.5	21.7	46.3	53.5	2.2
Per share
	₹8.09	₹43.96	₹37.46	₹12.11	₹14.55	₹46.27	₹36.60	₹0.36	₹15.06	₹32.06	₹36.14	₹1.86
	₹8.09	₹43.96	₹37.46	₹12.11	₹14.55	₹46.27	₹36.60	₹0.36	₹15.06	₹32.06	₹36.14	₹1.86
Other comprehensive income — detail
	−0.4	−0.4	2.7	1.0	−0.4	−0.4	−1.2	—	—	—	—	—
	−0.5	−0.5	3.7	1.4	−0.5	−0.5	−1.7	−0.1	−0.1	−0.1	1.6	−0.6
	−0.1	−0.1	0.9	0.4	−0.1	−0.1	−0.4	—	—	—	—	—
	—	—	—	—	—	—	—	0.0	−0.0	−0.0	0.4	−0.2
	—	—	—	—	—	—	—	−0.0	0.0	0.0	0.0	0.0
Per share — as-filed variants
	₹8.09	₹43.96	₹37.46	₹12.11	₹14.55	₹46.27	₹36.60	₹0.36	₹15.06	₹32.06	₹36.14	₹1.86
	₹8.09	₹43.96	₹37.46	₹12.11	₹14.55	₹46.27	₹36.60	₹0.36	₹15.06	₹32.06	₹36.14	₹1.86
Regulatory disclosures — filed alongside, not part of the P&L
	37.5	—	6.3	—	3.6	—	21.4	—	—	—	—	—
Derived — gross profit (revenue − materials − purchases − Δ inventories)
	143	214	193	139	135	203	190	93.1	126	168	164	96.9
	21.4%	22.3%	21.5%	25.8%	24.3%	24.0%	24.6%	28.1%	22.8%	22.6%	24.2%	25.1%
Adjusted (ex-exceptional items) — derived
	15.9	85.3	72.6	23.5	28.3	89.6	71.1	0.8	28.5	62.0	50.4	2.9
	11.7	63.6	54.2	17.5	21.1	67.0	53.0	0.5	21.8	46.4	52.3	2.7
	₹8.09	₹43.96	₹37.46	₹12.11	₹14.55	₹46.27	₹36.60	₹0.36	₹15.06	₹32.06	₹36.14	₹1.86

Open the chart

From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

SMLMAH₹4,825.00

SML Mahindra Ltd.

· Capital Goods & Defence

Annual Quarterly₹ CrorePeersASHOKLEY EICHERMOT SKIPPER SKFINDUS SUBROS SHAKTIPUMP SURYAROSNI TDPOWERSYSMcap ₹6,982 Cr

View

In ₹ Crore except Per Share 3 Months Ending	Q3 FY24 31/12/2023	Q4 FY24 31/03/2024	Q1 FY25 30/06/2024	Q2 FY25 30/09/2024	Q3 FY25 31/12/2024	Q4 FY25 31/03/2025	Q1 FY26 30/06/2025	Q2 FY26 30/09/2025	Q3 FY26 31/12/2025	Q4 FY26 31/03/2026	Q1 FY27 30/06/2026	Q2 FY27 30/09/2026
Revenue from Operations	386.1	679.6	746.1	549.7	331.8	771.4	845.9	555.1	539.3	897.7	957.5	669.8
Other Income	1.0	2.0	1.2	1.6	1.6	1.7	2.1	2.1	1.6	2.6	1.2	1.6
Total Income	387.1	681.6	747.3	551.3	333.4	773.1	848.0	557.2	540.8	900.2	958.7	671.4
Expenses
+ Cost of Materials Consumed	412.4	498.1	483.1	362.7	341.1	539.6	570.3	448.1	496.6	624.2	622.4	523.3
+ Purchases of Stock-in-Trade	17.8	20.4	23.0	21.4	18.8	24.7	26.2	24.1	22.7	27.0	32.0	25.8
+ Changes in Inventories	-141.0	-3.2	71.7	40.1	-121.1	17.2	46.1	-52.2	-119.3	53.2	89.4	-22.5
+ Employee Benefit Expense	49.5	50.4	54.2	49.0	50.4	52.7	58.0	56.7	59.2	53.7	68.9	67.3
+ Finance Costs	7.9	10.7	8.1	5.8	7.1	8.9	5.1	2.9	5.8	7.0	2.7	0.9
+ Depreciation & Amortisation	12.0	12.1	12.1	12.1	12.1	12.1	12.4	12.9	13.3	13.4	13.3	13.4
+ Other Expenses	25.6	42.7	33.1	31.8	24.4	46.9	40.3	36.5	39.1	49.2	44.8	47.4
Total Expenses	384.3	631.2	685.3	522.7	332.7	702.0	758.4	529.0	517.3	827.6	873.5	655.5
EBITDA	21.8	71.2	81.0	44.8	18.3	90.4	105.0	41.9	41.1	90.4	100.1	28.5
EBIT	9.8	59.1	68.9	32.7	6.2	78.4	92.6	29.0	27.8	77.0	86.8	15.2
Profit
PBT before Exceptional Items	2.9	50.4	62.0	28.5	0.8	71.1	89.6	28.3	23.5	72.6	85.3	15.9
Pretax Income	2.9	50.4	62.0	28.5	0.8	71.1	89.6	28.3	23.5	72.6	85.3	15.9
+ Current Tax	0.0	0.1	0.0	0.8	0.0	2.4	24.2	6.9	6.0	15.3	24.2	4.7
+ Deferred Tax	0.2	-2.0	15.6	5.9	0.2	15.8	-1.6	0.3	-0.0	3.1	-2.5	-0.6
Tax Expense	0.2	-1.9	15.6	6.7	0.2	18.2	22.6	7.2	6.0	18.4	21.7	4.2
Net Income	2.7	52.3	46.4	21.8	0.5	53.0	67.0	21.1	17.5	54.2	63.6	11.7
+ Net Income — Continuing Ops	2.7	52.3	46.4	21.8	0.5	53.0	67.0	21.1	17.5	54.2	63.6	11.7
+ Other Comprehensive Income	-0.5	1.2	-0.1	-0.1	-0.1	-1.2	-0.4	-0.4	1.0	2.7	-0.4	-0.4
Total Comprehensive Income	2.2	53.5	46.3	21.7	0.5	51.7	66.6	20.7	18.6	56.9	63.2	11.3
Per Share
Basic EPS	1.86	36.14	32.06	15.06	0.36	36.60	46.27	14.55	12.11	37.46	43.96	8.09
Diluted EPS	1.86	36.14	32.06	15.06	0.36	36.60	46.27	14.55	12.11	37.46	43.96	8.09
Other Comprehensive Income — detail
+ Other Comprehensive Income	—	—	—	—	—	-1.2	-0.4	-0.4	1.0	2.7	-0.4	-0.4
+ Items NOT to be Reclassified to P&L	-0.6	1.6	-0.1	-0.1	-0.1	-1.7	-0.5	-0.5	1.4	3.7	-0.5	-0.5
+ Tax on Items NOT to be Reclassified	—	—	—	—	—	-0.4	-0.1	-0.1	0.4	0.9	-0.1	-0.1
+ Tax on Items NOT to be Reclassified — alt tag	-0.2	0.4	-0.0	-0.0	0.0	—	—	—	—	—	—	—
+ Tax on Items to be Reclassified — alt tag	0.0	0.0	0.0	0.0	-0.0	—	—	—	—	—	—	—
Per Share — as-filed variants
Basic EPS — Continuing Operations	1.86	36.14	32.06	15.06	0.36	36.60	46.27	14.55	12.11	37.46	43.96	8.09
Diluted EPS — Continuing Operations	1.86	36.14	32.06	15.06	0.36	36.60	46.27	14.55	12.11	37.46	43.96	8.09
Regulatory Disclosures — filed alongside, not part of the P&L
Related-party Transactions — During the Period	—	—	—	—	—	21.4	—	3.6	—	6.3	—	37.5
Derived — Gross Profit (Revenue − Materials − Purchases − Δ Inventories)
Gross Profit	96.9	164.3	168.3	125.5	93.1	190.0	203.3	135.1	139.3	193.2	213.8	143.1
Gross Margin %	25.10	24.17	22.56	22.83	28.06	24.63	24.03	24.34	25.83	21.53	22.32	21.37
Adjusted (ex-Exceptional Items) — derived
Pretax Income (Adjusted, as filed)	2.9	50.4	62.0	28.5	0.8	71.1	89.6	28.3	23.5	72.6	85.3	15.9
Net Income Adj (tax-effected)	2.7	52.3	46.4	21.8	0.5	53.0	67.0	21.1	17.5	54.2	63.6	11.7
EPS Adj	1.86	36.14	32.06	15.06	0.36	36.60	46.27	14.55	12.11	37.46	43.96	8.09
Other Filed Concepts — mapped but not yet placed in the schedule
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00
Paid Up Equity Capital	14.5	14.5	14.5	14.5	14.5	14.5	14.5	14.5	14.5	14.5	14.5	14.5

As filed, sign as filed — read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown, so depth follows the filer: pre-Ind-AS, insurance and NBFC blocks stay hidden unless they were actually reported. Alternate tags for the same idea (e.g. two spellings of a deferred-tax element) are kept as separate lines rather than merged, because merging them would be a guess. Ratios, per-share figures and counts render as raw numbers, not ₹ Crore. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: Q2 FY27 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.

SML Mahindra Q2 FY27 results (July–September 2026)

Filed with NSE on Monday, 19 October 2026 at 4:27 pm IST

SML Mahindra (NSE: SMLMAH) reported its Q2 FY27 results (July–September 2026) on Monday, 19 October 2026 at 4:27 pm IST. Consolidated net profit was ₹11.7 crore, down 44.4% from ₹21.1 crore in Q2 FY26 and down 81.6% from ₹63.6 crore in Q1 FY27. Revenue from operations was ₹670 crore, up 20.7% year on year and down 30.1% from the previous quarter.

Q2 FY26 results (a year earlier): 18 October 2025
Q3 FY27 results due by: 14 February 2027

Q2 FY27 at a glance · consolidated

Net profit: ₹11.7 Cr−44.4% vs Q2 FY26−81.6% vs Q1 FY27
Revenue from operations: ₹670 Cr+20.7% vs Q2 FY26−30.1% vs Q1 FY27
Operating margin (EBIT): 2.3%−3.0 pts vs Q2 FY26−6.8 pts vs Q1 FY27EBIT ₹15.2 Cr
EBITDA: ₹28.5 Cr−32.0% vs Q2 FY26−71.5% vs Q1 FY27margin 4.3%
Earnings per share (basic): ₹8.09−44.4% vs Q2 FY26−81.6% vs Q1 FY27
Net profit margin: 1.7%−2.0 pts vs Q2 FY26−4.9 pts vs Q1 FY27

Questions

What was SML Mahindra's net profit in Q2 FY27?

Consolidated net profit was ₹11.7 crore, down 44.4% from ₹21.1 crore in Q2 FY26 and down 81.6% from ₹63.6 crore in Q1 FY27.

What was SML Mahindra's revenue in Q2 FY27?

Revenue from operations was ₹670 crore, up 20.7% year on year and down 30.1% from the previous quarter.

What was SML Mahindra's EPS in Q2 FY27?

Basic earnings per share were ₹8.09, against ₹14.55 in Q2 FY26.

How were SML Mahindra's Q2 FY27 results?

Revenue grew from a year earlier while net profit fell: revenue was up 20.7% at ₹670 crore, and net profit was down 44.4% at ₹11.7 crore. The operating margin was 2.3%, down 3.0 percentage points from 5.2% a year earlier. Against Q1 FY27, net profit was down 81.6% and revenue down 30.1%.

What was SML Mahindra's operating margin in Q2 FY27?

Operating profit (EBIT — revenue less operating expenses, before finance costs and other income) was ₹15.2 crore, a margin of 2.3%, against 9.1% in Q1 FY27 and 5.2% in Q2 FY26. EBITDA was ₹28.5 crore, 4.3% of revenue.

What was SML Mahindra's net profit in the first half of FY27?

Consolidated net profit for the first half of FY27 (April–September 2026) was ₹75.3 crore, down 14.4% from ₹88 crore in the same months a year earlier. Revenue from operations was ₹1,627 crore, up 16.2%.

What is SML Mahindra's net profit margin?

SML Mahindra's net profit margin was 1.7% in Q2 FY27 (net profit as a share of revenue from operations), against 3.8% in Q2 FY26 (down 2.0 percentage points). For FY26 as a whole it was 5.6%.

What was SML Mahindra's net profit in FY26?

Consolidated net profit was ₹160 crore in FY26 (April 2025–March 2026), up 31.3% from ₹122 crore in FY25. It was ₹108 crore in FY24 and ₹19.8 crore in FY23: up 705.4% over three years, 100.4% a year on average.

What was SML Mahindra's revenue in FY26?

Revenue from operations was ₹2,838 crore in FY26 (April 2025–March 2026), up 18.3% from ₹2,399 crore in FY25. It was ₹2,196 crore in FY24 and ₹1,822 crore in FY23: up 55.8% over three years, 15.9% a year on average.

How has SML Mahindra's profit changed over the last four quarters?

Net profit by quarter: ₹17.5 crore in Q3 FY26, ₹54.2 crore in Q4 FY26, ₹63.6 crore in Q1 FY27 and ₹11.7 crore in Q2 FY27. That is ₹147 crore over the four quarters, up 3.9% from ₹141 crore in the four quarters before. Revenue from operations: ₹539 crore, ₹898 crore, ₹958 crore and ₹670 crore.

When did SML Mahindra announce its Q2 FY27 results?

On Monday, 19 October 2026 at 4:27 pm IST, in its results filing to the stock exchanges. A year earlier it reported Q2 FY26 on 18 October 2025.

When will SML Mahindra announce its Q3 FY27 results?

Q3 FY27 covers October–December 2026. Listed companies must publish quarterly results within 45 days of the quarter's end (SEBI listing rules, Regulation 33), so the results are due by 14 February 2027. The company tells the exchanges the date of the board meeting at least two working days before it.

Where do these SML Mahindra figures come from?

From SML Mahindra's own consolidated results filings to NSE, in ₹ crore as filed (Q2 FY27 on 19 October 2026). Growth compares the same consolidated figures a year and a quarter earlier.

Consolidated figures from the company's filings to NSE. Every company's results dates this season are in the Q2 FY27 results calendar, part of Alpha Plus.