SML Isuzu Limited is an Indian commercial vehicle manufacturer producing light and medium trucks and buses, operating as a joint venture between the SML Group (Shreyans Group, Punjab) and Isuzu Motors of Japan. Based in Ropar, Punjab, it was formerly known as Swaraj Mazda Ltd and competes in the LCV and MCV segment against Tata Motors, Ashok Leyland, and Eicher Motors.
| Full Name | SML Isuzu Limited |
| Formerly | Swaraj Mazda Ltd |
| JV Partners | SML/Shreyans Group (Punjab) + Isuzu Motors Japan (~33%) |
| Listed | BSE: 523594 | NSE: SMLISUZU |
| HQ | Ropar, Punjab |
| Products | LCV/MCV trucks, staff carrier buses, school buses |
Who Owns SML Isuzu?
SML Isuzu Limited is jointly owned by: SML Group (Shreyans Group / Singh family of Punjab) as the Indian promoter, and Isuzu Motors Ltd (Japan) holding approximately 33% equity as the technology and largest institutional partner. SML Isuzu was previously known as Swaraj Mazda Ltd when the Japanese partner was Mazda Corporation; Mazda exited and Isuzu entered, prompting the 2011 rename. See also: Force Motors.
History of SML Isuzu
Swaraj Mazda was set up in 1983 in Punjab as a joint venture to manufacture LCVs using Mazda technology. Its school buses and staff carrier buses became well-known in North India. When Mazda’s global strategy changed (Mazda-Ford alliance), the partner changed to Isuzu Motors — the world’s largest diesel engine manufacturer. The company was renamed SML Isuzu in 2011. Isuzu also has a wholly-owned India subsidiary (Isuzu Motors India) for pick-ups and trucks, making SML Isuzu a parallel entity rather than Isuzu’s primary Indian manufacturer.