MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2023-24

CONSOLIDATED ACCOUNTS 471 Part “A” Subsidiaries [as per section 2(87) of the Companies Act, 2013] (Continued) Rupees crores Sr. No. Name of Subsidiary The date since when subsidiary was acquired Reporting currency Exchange rate Share Capital Reserves & Surplus Total Assets Total Liabilities Investments Gross Turnover ^ Profit/(Loss) before Tax Provision for Tax Profit/ (Loss) after Tax Proposed Dividend and Tax thereon Proportion of ownership interest @ ## 21 Mahindra North American Technical Center, Inc. 18/12/2013 USD83.3700 600.16 (599.04) 206.88 205.76 — 278.12 (13.27) — (13.27) — 100.00% 22 Mahindra Automotive North America Inc. 25/04/2017 USD83.3700 1,620.24 (168.58) 1,469.68 18.02 1,359.80 57.68 (3.54) — (3.54) — 100.00% 23 Mahindra Vehicle Sales and Service Inc. 06/06/2017 USD83.3700 751.05 (760.48) 1.24 10.67 — 0.76 7.79 — 7.79 — 100.00% 24 Mahindra do Brasil Industrial Ltda 14/10/2016 BRL16.6989 101.82 90.52 288.77 96.43 — 515.66 86.38 10.16 76.22 — 100.00% 25 Erkunt Traktor Sanayi Anonim Şirketi # 01/12/2017 TRY2.5803 113.53 464.26 1,059.98 482.19 207.42 1,420.78 187.23 26.43 160.80 — 100.00% 26 Erkunt Sanayi Anonim Şirketi # 01/12/2017 TRY2.5803 3.90 293.75 595.54 297.89 77.42 1,036.44 23.17 26.52 (3.35) — 98.69% 27 Sampo Rosenlew Oy 29/09/2020 EUR90.2355 5.06 23.51 397.75 369.18 33.21 451.46 (63.70) 27.94 (91.64) — 100.00% 28 Swaraj Engines Limited 28/09/2022 INR1.0000 12.15 356.42 556.79 188.22 20.11 1,419.24 184.97 47.10 137.87 115.40 52.12% 29 Carnot Technologies Private Limited 17/03/2022 INR1.0000 0.17 0.42 5.21 4.62 — 24.81 (10.08) (0.20) (9.88) — 73.00% 30 M.I.T.R.A Agro Equipments Private Limited 17/03/2023 INR1.0000 0.26 33.11 42.01 8.64 — 65.23 0.85 1.97 (1.12) — 100.00% 31 Mahindra Solarize Private Limited 06/04/2020 INR1.0000 35.39 (4.03) 131.39 100.03 7.39 232.28 (8.70) 0.11 (8.81) — 100.00% 32 Resurgence Solarize Urja Private Limited 29/08/2022 INR1.0000 9.98 (0.25) 10.87 1.14 — — (0.04) — (0.04) — 100.00% 33 Mahindra Agri Solutions Limited 16/08/2000 INR1.0000 112.05 (113.08) 229.63 230.66 39.17 269.24 (20.37) — (20.37) — 98.98% 34 Mahindra Summit Agriscience Limited 09/10/2018 INR1.0000 158.11 (131.46) 109.25 82.60 — 135.53 (27.83) — (27.83) — 59.39% 35 Mahindra EPC Irrigation Limited 08/09/2011 INR1.0000 27.91 137.37 257.09 91.81 — 262.45 2.43 0.76 1.67 — 54.26% 36 Mahindra Top Greenhouses Private Limited 16/11/2018 INR1.0000 3.00 (2.94) 0.10 0.04 — 1.03 (0.72) — (0.72) — 32.56% 37 Mahindra HZPC Private Limited 25/04/2013 INR1.0000 49.64 (39.78) 80.13 70.27 — 72.41 6.42 — 6.42 — 59.34% 38 Mahindra Fruits Private Limited 09/07/2014 INR1.0000 12.33 (12.21) 0.16 0.04 — — 0.01 — 0.01 — 98.98% 39 Mahindra & Mahindra Financial Services Limited 30/09/1998 INR 1.0000 246.88 17,910.61 1,15,159.21 97,001.72 9,650.82 13,404.14 2,355.47 595.85 1,759.62 778.38 52.20% 40 Mahindra Insurance Brokers Limited 07/04/2004 INR1.0000 10.31 642.26 903.74 251.17 188.51 1,057.66 167.50 43.98 123.52 15.46 52.20% 41 Mahindra Rural Housing Finance Limited 09/04/2007 INR1.0000 122.33 1,365.76 8,230.91 6,742.82 238.51 1,272.02 4.84 1.24 3.60 — 51.62% 42 Mahindra Manulife Investment Management Private Limited 20/06/2013 INR1.0000 382.94 (194.48) 230.75 42.29 149.81 43.97 (27.27) — (27.27) — 26.62%

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