The company posted a 15% year-on-year drop in sales, with volumes falling to 815 units from 932 in the same month last year. Exports halved to 27 units from 58 in August 2024. Production, however, rose 7% to 1,045 units, the company said in a regulatory filing on September 8.
The update comes as the commercial vehicle maker prepares to rebrand itself as SML Mahindra. The board has approved the name change, with final clearances awaited from shareholders and regulators.
The identity shift follows Mahindra & Mahindra’s move earlier this year to acquire a majority stake from promoters Sumitomo and Isuzu at Rs 650 per share. M&M later launched an open offer to raise its stake by an additional 26% at Rs 1,554.6 per share, a deal cleared by the Competition Commission of India (CCI) in June.
On the earnings front, SML Isuzu posted a strong June quarter, with net profit rising 44% to Rs 67 crore. Revenue came in at Rs 846 crore, up 13.4% from Rs 746 crore in the same quarter last year.
The company reported EBITDA of Rs 105 crore, 15% higher than Rs 80.8 crore a year earlier. Margins expanded to 12.4% from 10.8% in the year-ago period.SML Isuzu shares closed at Rs 3,699 on the BSE on Monday, down nearly 2%. The stock has been under pressure recently, sliding 22% over the past nine sessions and managing gains in only one of them.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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