SML Mahindra505192Governance policy update

Fair disclosure code for unpublished price sensitive information amended, effective 19th October 2026

SML Mahindra has amended its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information, effective 19th October 2026.

By ScoutQuest · Mon 19 Oct 2026, 6:40 PM IST · 4 min read

Effective Date: 19th October 2026
Code in Force From: 15th day of May, 2015

The company has revised the internal rulebook it uses to decide how and when it shares price-sensitive information with the market. This is a process and governance update.

What was announced

SML Mahindra has amended its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information.
The amendment is effective from 19th October 2026, the date of the letter.
The revised code is enclosed with the update and will also be available on the company's website.
The code states it comes into force from 15th day of May, 2015, with other applicable amendments as specified by SEBI from time to time.

What the code is about

Unpublished Price Sensitive Information, or UPSI, is information about the company that is not yet public and which, once it becomes public, is likely to materially affect the price of the company's securities. The code lays down how such information is handled and disclosed.

The code lists the kinds of information it treats as UPSI

Financial results and dividends.
Change in capital structure.
Mergers, de-mergers, acquisitions, delistings, disposals and expansion of business, and award or termination of orders or contracts not in the normal course of business.
Changes in key managerial personnel, and resignation of the Statutory Auditor or Secretarial Auditor.
Change in rating, other than ESG rating.
Fund raising proposed to be undertaken.
Agreements that may impact the management or control of the company.
Fraud or defaults by the company, its promoter, director, key managerial personnel or subsidiary, or arrest of such persons, in India or abroad.
Resolution plan, restructuring or one-time settlement relating to loans or borrowings from banks or financial institutions.
Insolvency-related events, including admission of a winding-up petition or an application to initiate corporate insolvency resolution, and approval or rejection of a resolution plan.
Initiation of a forensic audit and receipt of the final report.
Action or orders by regulatory, statutory, enforcement or judicial bodies against the company, its directors, key managerial personnel, promoter or subsidiary.
Outcome of litigation or disputes that may impact the company.
Guarantees or indemnity, or becoming a surety, for a third party outside the normal course of business.
Grant, withdrawal, surrender, cancellation or suspension of key licences or regulatory approvals.

Principles of fair disclosure the company commits to

Prompt public disclosure of UPSI once credible and concrete information comes into being.
Uniform and universal dissemination of UPSI, to avoid selective disclosure.
Prompt dissemination if UPSI is disclosed selectively, inadvertently or otherwise, so that it becomes generally available.
Confirming, denying or clarifying reported events or information in mainstream media where rumours of an impending specific material event are circulating, as soon as reasonably possible and not later than twenty four hours from the reporting, where applicable.
Information shared with analysts and research personnel is not UPSI.
Building best practices to post transcripts or records of meetings with analysts and investor conferences on the official website.
Handling all UPSI on a need-to-know basis.

Who oversees it

A senior officer is designated as Chief Investor Relations Officer (CIRO) to deal with dissemination and disclosure of UPSI.
The CIRO is responsible for timely, adequate, uniform and universal disclosure, for continuous disclosure requirements, and for coordinating disclosure to stock exchanges, analysts, shareholders and media.
Disclosure of UPSI may normally be approved in advance by the CIRO; in case of doubt, the CIRO consults the Managing Director, Executive Director(s), Chief Financial Officer or the Board's Disclosure Committee.
If UPSI is accidentally disclosed without prior approval, the person responsible informs the CIRO immediately, and the CIRO promptly disseminates it to make it generally available.
On market rumours, the CIRO decides whether the reported information is material and whether it points to rumours of an impending specific material event, and the company then confirms, denies or clarifies to the stock exchanges as required, including the current stage of the event if confirmed.
No person other than those authorised by the CIRO is to disclose information relating to the securities to analysts, research personnel and institutional investors.

How to read this

This is an update to an internal disclosure policy, not an announcement about earnings, orders or operations. It tells you the process the company follows before information reaches the market, including the twenty four hours window it has set itself for responding to reported rumours where applicable.

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