MAHINDRA & MAHINDRA LIMITED 26 7. Details of the Valuation or other external party report (if any) The related party transactions will be in line with the Company’s Policy on Materiality of and Dealing with Related Party Transactions. These transactions will be on an arm’s length basis and in the ordinary course of business. The related party transactions will be supported by the Valuation Report of an Independent valuer, wherever necessary. Arms' Length Basis: The Company ensures that the related party transactions are done on arms’ length basis which are established taking into account various factors including comparable with unrelated parties or on cost plus reasonable margin basis or market price basis, where available, or certified by any independent agency. In case of inter corporate fund based/ non fund based transaction(s), the interest charged will be in compliance with the provisions of section 186 of the Companies Act, 2013. The reimbursements / recoveries would be basis actual cost incurred. Compliance with arm’s length principles is ensured based on the applicable transfer pricing regulations. 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) 1) Rs. 1,400 crores constitutes 0.88% of the Consolidated Turnover* of the Company 2) Rs. 2,450 crores constitutes 1.54% of the Consolidated Turnover* of the Company 3) Rs. 3,750 crores constitutes 2.36% of the Consolidated Turnover* of the Company 4) Rs. 3,750 crores constitutes 2.36% of the Consolidated Turnover* of the Company 5) Rs. 3,050 crores constitutes 1.92% of the Consolidated Turnover* of the Company 6) Rs. 2,000 crores constitutes 1.26% of the Consolidated Turnover* of the Company Mahindra Susten Private Limited ("MSPL") with its subsidiaries^ Value of the proposed transaction p.a. as a % of the annual turnover* of MSPL on standalone basis GSPL 395% FSPL 692% IHPL 1,059% JHPL 1,059% LHPL 861% MHPL 565% * Turnover includes Revenue from Operations. Note: The percentage above is based on the Company’s Consolidated Turnover / Subsidiary’s Standalone Turnover for the FY 2024-25. ^ GSPL, FSPL, IHPL, JHPL, LHPL and MHPL are yet to commence operations and have Nil Turnover for FY 2024-25. 9. Transactions undertaken in previous Financial Year ended 31st March 2024 and 31st March, 2025 Rs. in crores Sr. No. Name of the Company Nature of Transactions FY24 FY25 a. Gelos Solren Private Limited (“GSPL”) Providing fund based and non-fund based support including equity/ debt/ Intercorporate deposits (ICD), Guarantee etc., in connection with loans provided, Interest income, rendering of services and reimbursements from parties 3.62 25.19 b. Furies Solren Private Limited (“FSPL”) Providing fund based and non-fund based support including equity/ debt/ Intercorporate deposits (ICD), Guarantee etc., in connection with loans provided, Interest income, rendering of services and reimbursements from parties 139.40 445.99 c. Illuminate Hybren Private Limited (“IHPL”) Providing fund based and non-fund based support including equity/ debt/ Intercorporate deposits (ICD), Guarantee etc., in connection with loans provided, Interest income and reimbursements from parties 123.14 142.86 d. Jade Hybren Private Limited (“JHPL”) Providing fund based and non-fund based support including equity/ debt/ Intercorporate deposits (ICD), Guarantee etc., in connection with loans provided, Interest income and reimbursements from parties 88.04 57.54 e. Layer Hybren Private Limited (“LHPL”) Providing fund based and non-fund based support including equity/ debt/ Intercorporate deposits (ICD), Guarantee etc., in connection with loans provided, Interest income and reimbursements from parties 25.80 141.02 f. Migos Hybren Private Limited (“MHPL”) Providing fund based and non-fund based support including equity/ debt/ Intercorporate deposits (ICD), Guarantee etc., in connection with loans provided and Interest income 60.20 23.80
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