महिंद्रा ग्रुप 2030 तक 15-40% ऑर्गेनिक ग्रोथ का अनुमान लगाता है, ऑटो में 8 गुना उछाल का लक्ष्य

Transportation

Published on 20th November 2025, 3:02 PM

Author

Abhay Singh | Whalesbook News Team

Overview

महिंद्रा ग्रुप का लक्ष्य वित्त वर्ष 26-30 के बीच 15-40% ऑर्गेनिक ग्रोथ हासिल करना है, जो वित्त वर्ष 22-25 में 25% ग्रोथ के बाद आएगा। समूह ने अपने व्यवसायों में महत्वाकांक्षी योजनाएं बताई हैं, जिसमें महिंद्रा लाइफस्पेस, महिंद्रा लास्ट माइल मोबिलिटी और अन्य प्रमुख खंडों के लिए पांच साल के भीतर 2 अरब डॉलर के मूल्यांकन का लक्ष्य शामिल है। मुख्य ऑटोमोटिव व्यवसाय में 8 गुना वृद्धि होने की उम्मीद है, इलेक्ट्रिक वाहन 6 गुना वृद्धि का लक्ष्य रखते हैं और 2031 तक 10 लाख यूनिट सड़कों पर होंगे। ट्रैक्टर सेगमेंट 3 गुना वृद्धि का लक्ष्य रखता है, और ट्रक सेगमेंट 6 गुना वृद्धि की उम्मीद करता है। टेक महिंद्रा के वित्त वर्ष 27 तक टर्नअराउंड की उम्मीद है।

SML Isuzu Ltd

₹ 2,765-3.47%

21 Nov – close price

🔗smlisuzu.com•BSE: 505192•NSE: SMLMAH

Market Cap₹ 4,000 Cr.

Current Price₹ 2,765

High / Low₹ 4,745

Stock P/E28.3

Book Value₹ 307

Dividend Yield0.65 %

ROCE27.1 %

ROE36.4 %

Face Value₹ 10.0

Sales₹ 2,504 Cr.

OPM10.2 %

Mar Cap₹ 4,000 Cr.

ABOUT

SML ISUZU LIMITED was incorporated as Swaraj Vehicles Ltd in 1983 and was promoted by Punjab Tractors Ltd with technical collaboration Mazda Motor Corporation, Japan, and Sumitomo Corporation, Japan. In 2004, the technical collaboration agreement with Mazda expired 2004 and sold its entire stake to Sumitomo Corporation and in the same time, it signed a technical assistance agreement with Isuzu Motors.In 2011, it was renamed as SML ISUZU and Sumitomo Corporation(Japan) and Isuzu Motors(Japan) own 44% and 15% stake, respectively[1]

KEY POINTS

Product Portfolio Revenue Split FY23The Company primarily operates in the light commercial vehicle (LCV) and medium CV (MCV) segments of the automobile industry.[1]Its key products include:Cargo vehicles (trucks) - 26%Passenger vehicles (buses)- 67%[2]

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Tata Motors	324.10	441.78	119473.88	0.00	-1021.00	40.83	16861.00	8.65	–	0.00	–	-0.08	933.00	–	–	0.57
2.	Ashok Leyland	144.69	25.41	84953.95	2.16	819.70	23.63	12576.86	12.82	14.26	50976.16	19.50	3343.21	781.50	6.75	4.47	4.33
3.	SML Mahindra	2765.30	28.27	4000.27	0.65	21.05	-3.44	555.11	0.98	27.12	2503.62	10.19	141.49	21.05	9.02	9.68	0.57
4.	Atul Auto	449.50	46.14	1246.60	0.00	8.27	69.50	200.17	10.20	6.48	759.08	7.94	27.02	9.17	2.75	2.74	0.32
–	Median: 4 Co.	386.8	37.2	44477.11	0.33	14.66	32.23	6565.99	9.43	14.26	1631.35	10.19	84.26	401.27	6.75	4.47	0.57

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	410	328	583	632	499	386	680	746	550	332	771	846	555
Expenses	405	312	540	585	459	364	608	665	505	313	681	741	513
Operating Profit	6	16	43	47	39	22	71	81	45	18	90	105	42
Other Income	0	1	2	2	0	1	2	1	2	2	2	2	2
Profit before tax	-9	-1	25	32	21	3	50	62	29	1	71	90	28
Tax %	0%	-86%	-7%	1%	0%	6%	-4%	25%	24%	29%	26%	25%	26%
Net Profit	-9	-0	27	32	21	3	52	46	22	1	53	67	21
EPS in Rs	-6.34	-0.09	18.51	21.97	14.57	1.85	36.15	32.06	15.06	0.37	36.59	46.27	14.55

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	881	1,106	1,166	1,356	1,135	1,409	1,154	591	924	1,822	2,196	2,399	2,504
Expenses	850	1,036	1,079	1,246	1,090	1,335	1,142	660	965	1,740	2,017	2,164	2,248
Operating Profit	32	69	87	110	45	74	12	-69	-41	82	179	235	255
Other Income	5	5	6	4	3	4	5	5	6	3	5	6	8
Interest	6	6	5	6	11	16	15	23	22	25	30	30	24
Depreciation	13	20	20	24	28	38	41	46	44	42	48	48	50
Profit before tax	18	49	68	84	9	24	-38	-133	-100	17	106	162	190
Net Profit	17	37	51	63	8	20	-21	-133	-100	20	108	122	141
EPS in Rs	12.02	25.53	35.35	43.54	5.87	13.52	-14.55	-92.24	-68.94	13.71	74.55	84.08	97.78
Dividend Payout %	25%	24%	23%	18%	26%	22%	0%	0%	0%	0%	21%	21%	–

Compounded Sales Growth

10 Years:8%

5 Years:16%

3 Years:37%

TTM:6%

Compounded Profit Growth

10 Years:12%

5 Years:51%

3 Years:48%

TTM:15%

Stock Price CAGR

10 Years:8%

5 Years:45%

3 Years:60%

1 Year:73%

Return on Equity

10 Years:4%

5 Years:1%

3 Years:34%

Last Year:36%

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	14	14	14	14	14	14	14	14	14	14	14	14	14
Reserves	262	288	326	389	384	399	370	241	147	163	271	368	429
Borrowings	0	22	55	41	212	246	185	261	298	265	421	327	254
Other Liabilities	274	350	332	341	377	435	289	279	357	494	506	590	496
Total Liabilities	551	675	727	785	987	1,095	859	796	816	937	1,213	1,299	1,193
Fixed Assets	143	138	171	215	365	380	426	389	349	356	340	321	368
Gross Block	227	236	283	239	417	469	554	561	564	610	638	659	–
Accumulated Depreciation	84	98	112	24	52	90	128	173	215	254	298	338	–
CWIP	9	27	40	78	35	27	3	5	16	11	11	59	8
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	399	511	515	492	587	688	429	403	450	569	861	919	817
Total Assets	551	675	727	785	987	1,095	859	796	816	937	1,213	1,299	1,193

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	162	69	-12	121	-33	55	150	-47	-19	90	-50	177
Cash from Investing Activity	22	-103	-13	-89	-98	-58	-47	-28	-7	-42	-46	-61
Cash from Financing Activity	-182	11	17	-34	146	10	-97	60	17	-55	127	-148
Net Cash Flow	2	-23	-8	-2	15	8	6	-15	-8	-7	31	-32

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	34	34	32	31	38	38	12	24	31	15	28	40
Inventory Days	133	129	146	107	158	146	109	202	143	105	125	116
Days Payable	90	90	74	70	92	94	67	142	118	73	71	74
Cash Conversion Cycle	77	73	104	69	104	91	54	84	56	48	81	82
Working Capital Days	47	29	41	44	41	28	8	-69	-74	-31	-7	17
ROCE %	7%	19%	20%	22%	4%	6%	-4%	-20%	-16%	9%	24%	27%

Shareholding Pattern
Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	43.96%	43.96%	43.96%	43.96%	43.96%	43.96%	43.96%	43.96%	43.96%	43.96%	43.96%	58.97%
FIIs	16.69%	16.68%	15.11%	15.28%	15.43%	15.81%	15.32%	15.35%	15.32%	15.24%	15.73%	1.80%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.05%	0.00%	0.04%	0.29%	0.63%
Public	39.35%	39.34%	40.92%	40.76%	40.59%	40.22%	40.65%	40.63%	40.72%	40.76%	40.02%	38.60%