The company's board of directors approved the leadership change at its meeting held on 10 June 2026, based on the recommendation of the Nomination and Remuneration Committee, SML Mahindra said in a regulatory filing.

Consequent to his cessation as Executive Director and CEO, Srinivas will also cease to be a Director and Key Managerial Personnel of the company under the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

To ensure continuity in leadership, the board has entrusted additional responsibilities to Executive Chairman Vinod Kumar Sahay with effect from July 1, 2026. Sahay will oversee the company's executive functions until a new Chief Executive Officer is appointed.

The company said the change is part of an internal leadership transition within the Mahindra Group. No further details regarding his new role were disclosed.

SML Mahindra clarified that the cessation is not due to resignation, removal or any governance-related matter, but solely on account of his movement to another role within the group.

SML Mahindra (formerly known as SML Isuzu) is primarily engaged in the business of the manufacture and sale of commercial vehicles and their parts.

The company reported a marginal 2.36% year-on-year (YoY) rise in standalone net profit to Rs 54.20 crore for the fourth quarter ended 31st March 2026, compared with Rs 52.95 crore in the corresponding quarter last year. Revenue from operations rose 16.39% YoY to Rs 897.65 crore in the quarter ended 31 March 2026.

The counter slipped 0.85% to Rs 3,733.45 on the BSE.