MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

285 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 6. Fair Value Disclosures (contd.) (b) Financial Instruments not measured using Fair Value i.e. measured using amortized cost Rupees crores Particulars Carrying Value Fair value (Level 2) As at 31 st March, 2023 Non Current Borrowings — Debentures...................................................................................................................................................................................................... 1,471.24 1,409.18 — Term Loans...................................................................................................................................................................................................... 600.00 600.00 — Other loans...................................................................................................................................................................................................... 260.32 222.59 As at 31 st March, 2022 Non Current Borrowings — Debentures...................................................................................................................................................................................................... 3,467.38 3,514.17 — Term Loans...................................................................................................................................................................................................... 1,841.67 1,841.67 — Other loans...................................................................................................................................................................................................... 372.48 319.89 Except for the above, carrying value of Other financial assets/liabilities represent reasonable estimate of fair value. There were no transfers between Level 1 and Level 2 during the year. 39. Related Party Disclosures: (a) Related parties where control exists: Subsidiaries: Sr. No. Name of the entity 1 Mahindra Heavy Engines Limited 2 NBS International Limited 3 Mahindra Automotive Australia Pty. Limited 4 Mahindra Europe S.R.L. 5 Mahindra And Mahindra South Africa (Proprietary) Limited 6 Mahindra West Africa Limited (upto 4 th January, 2023) 7 Mahindra Two Wheelers Limited 8 Automobili Pininfarina GmbH 9 Automobili Pininfarina Americas Inc. 10 Mahindra Automotive North America Inc. 11 Mahindra Vehicle Sales And Service Inc. 12 Mahindra North American Technical Center, Inc. 13 Mahindra Bangladesh Private Limited (upto 13 th March, 2023) 14 Mahindra Electric Automobile Limited (w.e.f. 25 th October, 2022) 15 Gromax Agri Equipment Limited 16 Trringo.Com Limited 17 Mahindra USA Inc. 18 Mitsubishi Mahindra Agricultural Machinery Co., Limited 19 Mitsubishi Agricultural Machinery Sales Co., Limited 20 Ryono Factory Co., Limited 21 Ryono Engineering Co., Limited 22 Dia Computer Service Co., Limited Sr. No. Name of the entity 23 Ryono Asset Management Co., Limited 24 Mahindra Mexico S. De. R. L. (Under Liquidation) 25 Mahindra Do Brasil Industrial Ltda. 26 Erkunt Traktor Sanayii Anonim Şirketi 27 Erkunt Sanayi Anonim Şirketi 28 Sampo Rosenlew Oy (w.e.f. 22 nd July, 2022) 29 Swaraj Engines Limited (w.e.f. 28 th September, 2022) 30 M.I.T.R.A Agro Equipments Private Limited (w.e.f 17 th March, 2023) 31 Kota Farm Services Limited 32 Mahindra Agri Solutions Limited 33 Mahindra EPC Irrigation Limited 34 Mahindra HZPC Private Limited 35 Mahindra Fruits Private Limited 36 Mahindra Fresh Fruits Distribution Holding Company (Europe) B.V. (upto 27 th February, 2023) 37 OFD Holding B.V. (upto 20 th April, 2022) 38 Origin Direct Asia Ltd. (upto 20 th April, 2022) 39 Origin Fruit Direct B.V. (upto 20 th April, 2022) 40 Origin Fruit Services South America Spa (upto 20 th April, 2022) 41 Origin Direct Asia (Shanghai) Trading Co. Ltd. (upto 20 th April, 2022) 42 Merakisan Private Limited (upto 7 th September, 2022) 43 Mahindra First Choice Wheels Limited 38. Financial instruments (contd.)