SML Mahindra Ltd Truck and Bus Division for ₹525 crore

shareholders approved the slump‑sale acquisition of Mahindra & Mahindra’s Truck and Bus Division for ₹525 crore, with 99.99% support from 1.94 million votes polled; e‑voting ended on September 6 and results were declared on September 7. The deal, expected to close in FY27, will consolidate Mahindra Group’s commercial‑vehicle operations above 3.5 tonnes, expand SML’s portfolio and distribution, and is seen as long‑term earnings accretive despite some near‑term margin dilution during integration. Operationally, the company reported August 2026 sales of 1,175 vehicles, up 40% YoY (Cargo +53%, Passenger +31%), and April–August sales up 14% to 8,216 units. Management expects operating margins to recover by Q4 FY27, aided by price hikes and cost actions, and has set a strategic target to lift its CV market share to 10–12% by FY31 (from ~7.2%) and above 20% by FY36, with at least 10% of its bus portfolio electric in a couple of years. Shares have been volatile around ₹6,250–₹6,650 in recent sessions, with a 52‑week high near ₹6,654.