annual-report-FY2021

390 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 31/03/2021 11/08/2008 4,216,792 34.74% 26.28 97.47 32.15 60.39 Tech Mahindra Limited 31/03/2021 31/08/2012 251,548,691 28.81% 985.57 7,163.60 1,275.71 3,152.30 Mahindra & Mahindra Contech Limited 31/03/2021 01/04/2010 70,000 46.66% 1.73 7.30 0.54 0.61 Officemartindia.com Limited 31/03/2021 31/03/2002 749,997 50.00% 0.22 (0.12) * * Kota Farm Services Limited 31/03/2021 15/04/2011 310,000 47.81% 0.30 (0.15) * * P.F. holding BV $ 27/05/2016 26,336,050 40.00% 254.05 122.67 (59.57) (89.36) Carnot Technologies Private Limited 31/03/2021 09/03/2018 16,562 49.51% 18.07 3.19 (1.12) (1.15) Mitsubishi Mahindra Agricultural Machinery co., Ltd. § 01/10/2015 4 33.33% 191.59 68.04 (3.28) (6.55) M.I.T.R.A Agro Equipments Private Limited 31/03/2021 15/02/2018 102,662 40.60% 15.99 9.92 3.89 5.68 Zoomcar Inc $ ^ ≠ 16/02/2018 11,913,048 16.81% — — — — Smartshift Logistics Solutions Private Limited 31/03/2021 28/03/2018 1,040,148 35.76% 173.44 26.41 (49.65) (89.19) Mahindra Ideal Lanka (Private) Limited 31/03/2021 31/05/2018 175,000 35.00% 6.79 5.33 * * Mahindra Sanyo Special Steel Private Limited 31/03/2021 21/06/2018 3,475,264 22.81% 145.13 25.49 (15.68) (53.05) ≠ Investment in Zoomcar Inc. is fully provided for impairment and hence loss for the year has not been considered in consolidation. Notes: There are no associates or Joint ventures which are yet to commence operations. * denotes amount less than Rs. 50,000 †† including participating preference shares $ Based on unaudited financial statements as 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. Vikram Singh Mehta Vishakha N. Desai T. N. Manoharan Haigreve Khaitan Shikha Sharma Nisaba Godrej Muthiah Murugappan Vijay Kumar Sharma CP Gurnani } Directors Anand G. Mahindra Executive Chairman Anish Shah Managing Director and CEO Rajesh Jejurikar Executive Director (Auto and Farm Sectors) Manoj Bhat Group Chief Financial Officer Narayan Shankar Company Secretary Mumbai, 28 th May, 2021