SML Mahindra Ltd

Incorporated in July 1983, SML Isuzu Limited (SML) was formerly incorporated as 'Swaraj Vehicles Limited'. The name of the Company was changed from Swaraj Mazda Limited to SML Isuzu Limited on 3rd January, 2011. SML was jointly promoted by Punjab Tractors Ltd. (PTL) in India and Mazda Motor Corporation & Sumitomo Corporation in Japan. Sumitomo Corporation, Japan, a body corporate, is the Promoter of the Company and holds 43.96% shareholding of the Company.

The company came out with a public issue in May '85 to part-finance its projects. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively holds 44% and 15% shareholding in the Company.

In October 2004, SML's Technical Assistance Agreement with Maza ended. Subsequently on 18th August 2005, Maza sold to Sumitomo Corporation, Japan its entire holding in SML of 1638000 equity shares representing 15.62% of the equity capital of SML. Thus Sumitomo Corporation's equity holdings in the company has gone up to 41.03%. Also in the end of June 2005, PTL has sold to Sumitomo 1573000 equity shares of SML out of PTL's equity holding of 3045000 shares in SML.

During the year 2004-05, SML's market share in the comparable 5 to 10 Ton GVW range (market size 103000 vehicles) was 12%. However SML's market share in the comparable passenger segment was higher at 19%.

SML's plant location is at Nawanshahar in Punjab.

Starting from 2-wheel bases, its model range now spans 5-wheel bases. Carrying capacities have spread from 3.0 ton to 6.0 ton in the goods segment (GVW 5.8 to 8.8 ton) and from 12 to 41 seaters in the passenger segment. The company has also the distinction of producing India's first factory finished buses. In recent years, Swaraj Mazda has successfully introduced India's first 4-wheel drive LCVs and CNG mini-buses. Current variety of specialty vehicles include Police Vans, Ambulances (2 stretchers/4 stretchers), Dental Vans, WaterTankers, Fire Tenders, Dumper Placers, Bottle Carriers etc. On the basis