annual-report-FY2020

392 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Part “B” Details of Associates/Joint Ventures [as per Section 2(6) of the Companies Act, 2013] Rupees crores Name of Associates/Joint Ventures Audited Balance Sheet Date Date of Acquistion No. of Equity shares held †† Proportion of ownership interest Cost of Investments Networth attributable to Shareholding as per latest audited Balance Sheet Profit/(Loss) for the year Considered in Consolidation Not considered in consolidation Swaraj Engines Limited 31/03/2020 11/08/2008 42,16,792 34.76% 26.28 81.99 24.69 46.35 Tech Mahindra Limited 31/03/2020 31/08/2012 25,15,48,691 28.89% 985.57 6,301.80 1,165.13 2,867.85 Mahindra & Mahindra Contech Limited 31/03/2020 01/04/2010 70,000 46.66% 1.73 6.77 0.51 0.58 Officemartindia.com Limited 31/03/2020 31/03/2002 7,49,997 50.00% 0.22 (0.12) * * Kota Farm Services Limited 31/03/2020 15/04/2011 3,10,000 47.81% 0.27 (0.14) * * P.F. holding BV $ 27/05/2016 1,83,36,050 40.00% 137.82 125.89 (84.99) (127.48) Sampo Rosenlew Oy 31/03/2020 01/07/2016 1,872 48.98% 110.49 (2.38) (26.48) (27.59) Carnot Technologies Private Limited 31/03/2020 9/03/2018 7,370 23.66% 6.07 1.32 0.14 0.47 Mitsubishi Mahindra Agricultural Machinery co., Ltd. § 01/10/2015 4 33.33% 191.59 67.13 (149.08) (298.20) M.I.T.R.A Agro Equipments Private Limited 31/03/2020 15/02/2018 1,02,662 40.60% 15.99 6.03 1.33 1.94 Zoomcar Inc $ 16/02/2018 1,19,13,048 16.81% — (19.09) (44.59) (220.65) Smartshift Logistics Solutions Private Limited (earlier known as Resfeber Labs Private Limited) 31/03/2020 28/03/2018 10,62,702 44.29% 173.44 34.33 (43.07) (54.18) Mahindra Ideal Lanka Private Limited 31/03/2020 31/05/2018 1,75,000 35.00% 6.79 5.84 (1.02) (1.89) Mahindra Sanyo Special Steel Private Limited 31/03/2020 21/06/2018 34,75,264 22.81% 145.13 41.20 (19.34) (65.45) Notes to Part B: - No associates/ Joint ventures are yet to commence operations. * denotes amount less than Rs. 50,000. †† including participating preference shares. $ Based on unaudited financial statements since audit is not required as per their local laws. § In addition to JPY750 million Common Stock (which represents 33.33% of the Common stock),the Company owns the entire JPY 2,250 million “Class A” shares (shares with no voting rights); “Class A” shares have rights over dividend and liquidation on an equal basis with Common Stock. Nadir B. Godrej M. M. Murugappan Dr. Vishakha N. Desai Vikram Singh Mehta T. N. Manoharan Vijay Kumar Sharma Haigreve Khaitan Shikha Sharma CP Gurnani } Directors In terms of our report attached. For B S R & Co. LLP Chartered Accountants Firm’s Registration No : 101248W/W-100022 Jamil Khatri Partner Membership No : 102527 Mumbai, 12 th June, 2020 Anand G. Mahindra Executive Chairman Dr. Pawan Goenka Managing Director and CEO Dr. Anish Shah Deputy Managing Director and Group CFO Rajesh Jejurikar Executive Director (Auto and Farm Sectors) Narayan Shankar Company Secretary Mumbai, 12 th June, 2020