389 FINANCIAL STATEMENTS | Consolidated Accounts Rupees crores Note No. 2026 2025 I. ASSETS NON-CURRENT ASSETS Property, plant and equipment..................................................................................................................................................................................... 4 29,012.33 25,834.82 Capital work-in-progress.................................................................................................................................................................................................... 5 2,368.02 3,652.56 Goodwill ....................................................................................................................................................................................................................................... 6 2,534.77 2,373.90 Other Intangible assets...................................................................................................................................................................................................... 7 6,912.32 6,427.64 Intangible assets under development...................................................................................................................................................................... 8 5,371.51 4,645.08 Investments accounted using equity method.................................................................................................................................................... 9 15,112.02 14,176.68 Financial assets (i) Investments.................................................................................................................................................................................................................. 9 4,406.95 5,184.42 (ii) Trade receivables...................................................................................................................................................................................................... 10 207.76 256.54 (iii) Loans................................................................................................................................................................................................................................. 11 89,180.41 79,607.31 (iv) Other financial assets........................................................................................................................................................................................... 12 8,544.32 2,282.79 Deferred tax assets (net).................................................................................................................................................................................................. 13 1,580.96 1,573.11 Income tax assets (net)..................................................................................................................................................................................................... 2,088.81 2,270.77 Other non-current assets................................................................................................................................................................................................. 14 3,174.84 2,727.38 1,70,495.02 1,51,013.00 CURRENT ASSETS Inventories................................................................................................................................................................................................................................... 15 22,044.11 20,330.93 Financial assets (i) Investments.................................................................................................................................................................................................................. 9 20,804.87 21,947.47 (ii) Trade receivables...................................................................................................................................................................................................... 10 9,064.27 8,279.70 (iii) Cash and cash equivalents................................................................................................................................................................................ 16 4,292.24 4,923.89 (iv) Bank balances other than cash and cash equivalents.................................................................................................................. 17 27,686.34 15,690.95 (v) Loans................................................................................................................................................................................................................................. 11 51,137.04 44,644.77 (vi) Other financial assets........................................................................................................................................................................................... 12 4,597.42 3,552.48 Other current assets............................................................................................................................................................................................................ 14 7,350.20 7,203.08 Assets held for sale.............................................................................................................................................................................................................. 163.13 — 1,47,139.62 1,26,573.27 TOTAL ASSETS....................................................................................................................................................................................................................... 3,17,634.64 2,77,586.27 II. EQUITY AND LIABILITIES EQUITY Equity share capital.............................................................................................................................................................................................................. 18 558.78 558.15 Other equity............................................................................................................................................................................................................................... 92,537.57 76,480.71 Equity attributable to owners of the company................................................................................................................................................ 93,096.35 77,038.86 Non-controlling interests................................................................................................................................................................................................... 16,394.65 12,059.14 1,09,491.00 89,098.00 LIABILITIES NON-CURRENT LIABILITIES Financial liabilities (i) Borrowings.................................................................................................................................................................................................................... 20 73,469.93 79,707.19 (ii) Compulsorily convertible preference shares......................................................................................................................................... 42 2,972.76 4,075.27 (iii) Lease liabilities........................................................................................................................................................................................................... 3,651.83 3,170.14 (iv) Other financial liabilities...................................................................................................................................................................................... 22 1,034.76 1,127.76 Provisions..................................................................................................................................................................................................................................... 23 2,582.76 1,982.02 Deferred tax liabilities (net)............................................................................................................................................................................................ 13 1,774.34 1,912.07 Other non-current liabilities............................................................................................................................................................................................ 24 6,558.70 6,191.81 92,045.08 98,166.26 CURRENT LIABILITIES Financial liabilities (i) Borrowings.................................................................................................................................................................................................................... 20 56,144.57 41,465.76 (ii) Lease liabilities........................................................................................................................................................................................................... 696.82 606.22 (iii) Trade payables .......................................................................................................................................................................................................... 21 (a) Total outstanding dues of Micro Enterprises and Small Enterprises.................................................................... 991.18 926.72 (b) Total outstanding dues of creditors other than Micro Enterprises and Small Enterprises..................... 36,897.49 29,928.58 (iv) Other financial liabilities...................................................................................................................................................................................... 22 6,290.08 5,542.63 Other current liabilities...................................................................................................................................................................................................... 24 12,287.05 9,818.62 Provisions.................................................................................................................................................................................................................................... 23 1,809.57 1,313.80 Current tax liabilities (net).............................................................................................................................................................................................. 981.80 719.68 1,16,098.56 90,322.01 TOTAL EQUITY AND LIABILITIES............................................................................................................................................................................ 3,17,634.64 2,77,586.27 The accompanying notes 1 to 50 are an integral part of the Consolidated Financial Statements. Consolidated Balance Sheet | as at 31st March, 2026 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.4146) Mumbai, 5th May, 2026 For Mahindra & Mahindra Limited
RkJQdWJsaXNoZXIy NTE5NzY=