Integrated Annual Report 2025-26 314 Directors: Shikha Sharma Nisaba Godrej Muthiah Murugappan Ranjan Pant Sat Pal Bhanoo M.P. Vijay Kumar Samina Hamied (DIN - 00043265) (DIN - 00591503) (DIN - 07858587) (DIN - 00005410) (DIN - 10482731) (DIN - 05170323) (DIN - 00027923) In terms of our report attached. For B S R & Co. LLP Chartered Accountants Firm’s Registration No: 101248W/W-100022 Venkataramanan Vishwanath Partner Membership No: 113156 Mumbai, 5th May, 2026 Anand G. Mahindra Chairman (DIN - 00004695) Anish Shah Group CEO and Managing Director (DIN - 02719429) Rajesh Jejurikar Executive Director and CEO (Auto and Farm Sectors) (DIN - 00046823) Amarjyoti Barua Group Chief Financial Officer Sailesh Kumar Daga Company Secretary (FCS No.4164) Mumbai, 5th May, 2026 For Mahindra & Mahindra Limited Statement of Profit and Loss | for the year ended 31st March, 2026 Rupees crores Note No. 2026 2025 INCOME Revenue from operations................................................................................................................................................................................ 24 1,45,575.77 1,16,483.68 Income from investments related to subsidiaries, associates and joint ventures ................................................. 25 2,189.58 2,140.85 Income from Operations ............................................................................................................................................................................... 1,47,765.35 1,18,624.53 Other income .......................................................................................................................................................................................................... 26 2,774.94 1,711.87 Total income........................................................................................................................................................................................................... 1,50,540.29 1,20,336.40 EXPENSES Cost of materials consumed.......................................................................................................................................................................... 27 1,04,783.50 81,822.23 Purchases of stock-in-trade........................................................................................................................................................................... 5,270.49 4,583.40 Changes in inventories of finished goods, stock-in-trade and work-in-progress....................................................... 28 712.00 (65.54) Employee benefits expense............................................................................................................................................................................ 29 5,290.29 4,881.48 Finance costs............................................................................................................................................................................................................ 30 249.58 250.47 Depreciation, amortisation and impairment expense................................................................................................................... 31 4,292.68 4,226.78 Loss from investments related to subsidiaries, associates and joint ventures......................................................... 32 677.31 847.91 Other expenses....................................................................................................................................................................................................... 33 8,542.04 8,139.55 Total Expenses...................................................................................................................................................................................................... 1,29,817.89 1,04,686.28 Profit before exceptional items and tax ...................................................................................................................................... 20,722.40 15,650.12 Exceptional items ................................................................................................................................................................................................. 35 (98.19) — Profit before tax................................................................................................................................................................................................. 20,624.21 15,650.12 Tax Expense Current tax.................................................................................................................................................................................................... 21 (5,171.10) (3,678.11) Deferred tax................................................................................................................................................................................................. 21 185.82 (117.05) Profit for the year............................................................................................................................................................................................. 15,638.93 11,854.96 Other comprehensive income / (loss) A. (i) Items that will not be reclassified to profit or loss (a) Remeasurements of the defined benefit plans.......................................................................................... (68.79) (82.71) (b) Equity instruments through other comprehensive income............................................................... (0.49) (6.09) (ii) Income tax relating to items that will not be reclassified to profit or loss....................................... 17.31 20.51 B. (i) Items that will be reclassified to profit or loss (a) Debt instruments through other comprehensive income................................................................... (9.87) 13.63 (b) Effective portion of gains / (losses) on designated portion of hedging instruments in a cash flow hedge........................................................................................................................................................... (24.82) (0.84) (ii) Income tax relating to items that will be reclassified to profit or loss................................................ 8.72 (3.22) Total other comprehensive income / (loss)................................................................................................................................. (77.94) (58.72) Total comprehensive income for the year................................................................................................................................... 15,560.99 11,796.24 Earnings per equity share: (Face value Rs. 5/- per share) (Rupees) Basic................................................................................................................................................................................................................................ 36 130.18 98.80 Diluted........................................................................................................................................................................................................................... 36 129.76 98.45 The accompanying notes 1 to 48 are an integral part of the Financial Statements
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