MAHINDRA & MAHINDRA LIMITED 33 8. Percentage of the Company’s annual consolidated turnover, for the immediately preceding financial year, that is represented by the value of the proposed transaction (and for a related party transaction involving a subsidiary, such percentage calculated on the basis of the subsidiary’s annual turnover on a standalone basis shall be additionally provided) Rs. 30,500 crores constitute 22.06% of the Consolidated Turnover* of the Company. * Turnover includes Revenue from Operations. MEAL was incorporated on 25th October, 2022 and is yet to commence operations, hence it has NIL Turnover for FY 2023-24. Note: The percentage above is based on the Company’s Consolidated Turnover / Subsidiary’s Standalone Turnover for the FY 2023-24 and the actual percentage shall depend upon the turnover of the Company/ Subsidiary as the case may be as per the last audited financial statements of the Company / Subsidiary during the above referred period for which approval is being sought. 9. Transactions undertaken in previous Financial Years ended 31st March, 2023 and 31st March, 2024 Rs. in crores Sr. No. Name of the Company Nature of Transaction FY23 FY24 1. Mahindra Electric Automobile Limited Sale of property, plant & equipment and other intangible assets, sale of goods, rendering of services, investments, other income, reimbursements received, etc. 2,340.93 2,852.50 The royalty received from MEAL for usage of ‘Mahindra’ Brand/ trade name was Rs. 0.43 lacs in FY24. The royalty receivable from MEAL during the period from 1st April, 2024 upto the Seventy Ninth Annual General Meeting of the Company to be held in the year 2025 is expected to be around Rs. 30 crores, which would be well below the permitted statutory ceiling as prescribed under Regulation 23 (1A) of Listing Regulations i.e. 5% of the annual consolidated turnover of the Company. 2) For Item No. 15: Details of the Material Related Party Transactions pertaining to Subsidiaries of the Company: Sr. No. Particulars Disclosures 1. Name of the Related Party; Nature of relationship with the Subsidiary, including nature of its concern or interest (financial or otherwise); and Monetary Value Name of the Subsidiary Name of the Related Party Monetary value Nature of Relationship Mahindra Susten Private Limited ("MSPL") Martial Solren Private Limited ("Martial") Not exceeding Rs. 1,750 Crores MSPL is a subsidiary of Mahindra Holdings Limited ("MHL"). MHL is whollyowned subsidiary of the Company and thus, MSPL is a subsidiary of the Company. Martial, GSPL, FSPL, HHPL, IHPL, LHPL, JHPL, KHPL and MHPL are wholly owned subsidiaries of MSPL which is a subsidiary of MHL and in turn of the Company. Gelos Solren Private Limited (“GSPL”) Not exceeding Rs. 1,500 Crores Furies Solren Private Limited (“FSPL”) Not exceeding Rs. 2,500 Crores Hazel Hybren Private Limited (“HHPL”) Not exceeding Rs. 1,250 Crores Illuminate Hybren Private Limited (“IHPL”) Not exceeding Rs. 1,250 Crores Layer Hybren Private Limited (“LHPL”) Not exceeding Rs. 1,250 Crores Jade Hybren Private Limited (“JHPL”) Not exceeding Rs. 1,250 Crores Kyros Hybren Private Limited (“KHPL”) Not exceeding Rs. 1,250 Crores Migos Hybren Private Limited (“MHPL”) Not exceeding Rs. 1,250 Crores
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