FINANCIAL STATEMENTS | Standalone Accounts 329 Particulars Face Value Per Unit (Rupees) 2026 2025 Number Rupees crores Number Rupees crores (C) Designated and measured at FVTOCI In Other Companies Equity shares.................................................................................................... 1.76 2.22 Preference shares ........................................................................................ * 0.03 1.76 2.25 Investments in Equity Instruments-Quoted (Total) .................. 8,609.80 5,741.57 Unquoted (A) At Cost (i) In Subsidiary Companies Equity shares Gromax Agri Equipment Limited ......................................... 10 59,73,218 4.29 59,73,218 4.29 Kota Farm Services Limited ................................................... 10 2,73,420 — 2,73,420 — Mahindra & Mahindra Contech Limited ........................... 10 35,000 0.04 35,000 0.04 Mahindra Agri Solutions Limited ......................................... 10 12,74,42,973 443.38 12,74,42,973 443.38 Mahindra and Mahindra South Africa (Proprietary) Limited .................................................................................................... ZAR 1 5,20,00,000 28.54 5,20,00,000 28.54 Mahindra Automotive Australia Pty. Limited ............... AUD 1 45,75,000 21.16 45,75,000 21.16 Mahindra Automotive Mauritius Limited ........................ -Ordinary shares ............................................................................. EUR 1 13,30,05,001 1,075.42 13,30,05,001 1,075.42 -Ordinary shares ............................................................................. NA *** 1,379.65 *** 1,028.55 Mahindra Aerospace Private Limited ................................ 10 1,01,09,27,684 1,205.49 91,23,89,607 1,106.96 Mahindra Construction Company Limited ..................... 10 9,00,000 — 9,00,000 — Mahindra Defence Systems Limited .................................. 10 — — 1,67,23,655 292.95 Mahindra do Brasil Industrial Ltda.(quotas) ................. BRL 1 6,09,10,950 97.80 6,09,10,950 97.80 Mahindra Electric Automobile Limited .................................. 10 4,30,83,18,199 6,950.49 3,97,58,73,755 5,454.49 Mahindra eMarket Limited ....................................................... 10 3,59,865 0.02 3,59,865 0.02 Mahindra Holdings Limited ...................................................... 10 2,70,53,71,700 2,705.37 2,70,53,71,700 2,705.37 Mahindra Overseas Investment Company (Mauritius) Limited – Ordinary shares ........................................................................... US $ 1 30,14,29,209 1,893.69 30,14,29,209 1,893.69 – Ordinary shares ........................................................................... NA 56,65,99,032 1,295.58 38,60,43,477 1,017.97 Mahindra Sustainable Energy Private Limited............. 10 12,82,55,200 128.26 12,34,35,200 123.44 Mahindra Two Wheelers Europe Holdings S.a.r.l.: – Class A Shares .............................................................................. EUR 1 1,49,00,000 188.71 1,49,00,000 188.71 – Class B Shares ............................................................................. EUR 0.05 1,60,00,00,000 633.90 1,60,00,00,000 633.90 – Class C Shares .............................................................................. EUR 0.03 53,33,33,300 135.16 53,33,33,300 135.16 – Class D Shares ............................................................................. EUR 0.02 1,65,00,00,000 286.35 1,65,00,00,000 286.35 Mahindra USA Inc. – Class A Shares .............................................................................. US $ 0.25 45,60,00,000 755.08 45,60,00,000 755.08 – Class B Shares ............................................................................. US $ 0.16 67,25,00,000 795.94 67,25,00,000 795.94 Mahindra Accelo Limited ............................................................ 10 2,71,00,007 710.71 2,71,00,007 710.71 Mahindra Integrated Business Solutions Private Limited 10 82,79,511 178.84 82,79,511 178.84 Mitsubishi Mahindra Agricultural Machinery Co., Limited: .................................................................................................. – Equity share ................................................................................... NA 1 42.53 1 42.53 – Class A Shares .............................................................................. NA 445 506.52 3 149.06 M.I.T.R.A. Agro Equipments Private Limited .................. 10 2,63,126 89.02 2,63,126 89.02 NBS International Limited ........................................................ 10 4,45,50,476 45.30 4,45,50,476 45.30 8. Investments (contd.) A. Non-current investments (contd.)
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