Integrated Annual Report 2025-26 330 Particulars Face Value Per Unit (Rupees) 2026 2025 Number Rupees crores Number Rupees crores Resurgence Solarize Urja Private Limited .................... 10 42,90,000 4.29 25,94,800 2.59 Sampo Rosenlew Oy .................................................................... NA — — 9,30,807 641.33 Officemartindia.com Limited ................................................... 10 7,49,997 — 7,49,997 — Mahindra Last Mile Mobility Limited ................................. 10 90,10,50,000 901.05 86,00,50,000 860.05 PSL Media & Communications Limited ........................... 5 19,750 0.01 — — Mahindra Investment Company Mauritius Limited (Formerly known as Mahindra-BT Investment Company (Mauritius) Limited ................................................................................................................. USD 1 1,18,80,000 191.08 — — Mahindra Advanced Technologies Limited .................... 10 1,36,11,60,400 436.13 — — 23,129.80 20,808.64 (ii) In Associate Companies Equity shares PF Holdings B.V. ................................................................................... EUR 1 2,63,36,050 254.05 2,63,36,050 254.05 PSL Media & Communications Limited ............................... — — — 19,750 0.01 Blue Planet Integrated Waste Solutions Limited ......... 10 — — 60,00,000 5.94 ReNew Sunlight Energy Private Limited ........................... 10 1,60,74,000 16.07 1,60,74,000 16.07 Gelos Solren Private Limited ..................................................... 10 7,79,870 27.49 — — 297.61 276.07 (iii) In Joint Venture Companies Equity shares Carnot Technologies Private Limited ................................ 10 10,544 14.95 10,544 14.95 Classic Legends Private Limited ........................................... 10 47,63,24,923 561.71 45,27,95,511 525.71 Mahindra Ideal Lanka (Private) Limited ........................... LKR 1000 — — 1,75,000 6.79 Smartshift Logistics Solutions Private Limited .......... 10 2,77,68,400 71.56 2,77,68,400 71.56 Mahindra Investment Company Mauritius Limited (Formerly known as Mahindra-BT Investment Company (Mauritius) Limited .................................................................................................... USD 1 — — 67,71,600 123.62 648.22 742.63 Preference shares (classified as equity instruments) Compulsorily Convertible Cumulative Preference shares: Carnot Technologies Private Limited – Series A ............................................................................................. 100 6,663 5.77 6,663 5.77 – Series B ............................................................................................. 100 2,298 3.00 2,298 3.00 – Series C ............................................................................................. 100 1,613 2.50 1,613 2.50 – Seed ..................................................................................................... 100 4,480 5.85 4,480 5.85 Compulsorily Convertible Cumulative Participating Preference Shares: Smartshift Logistics Solutions Private Limited: – 0.01% Series C ............................................................................ 100 3,15,788 64.38 3,15,788 64.38 – 0.01% Series C1 ........................................................................ 100 1,84,529 37.50 1,84,529 37.50 – 0.01% Series B ............................................................................ 10 1,53,195 31.03 1,53,195 31.03 150.03 150.03 798.25 892.66 (iv) In Trust Securities M&M Benefit Trust ........................................................................ 1,189.42 1,189.42 M&M Fractional Entitlement Trust .................................... 0.01 0.01 Sunrise Initiatives Trust ............................................................. 62.30 62.30 New Democratic Electoral Trust ......................................... 0.02 0.02 1,251.75 1,251.75 8. Investments (contd.) A. Non-current investments (contd.)
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