Mahindra & Mahindra Limited | Integrated Annual Report 2025-26

409 FINANCIAL STATEMENTS | Consolidated Accounts 5. Capital-work-in progress Rupees crores Particulars 2026 2025 Balance at the beginning of the year................................................................................................................................................................................ 3,652.56 3,461.33 Additions during the year.................................................................................................................................................................................................................. 4,925.51 6,803.78 Acquisitions through business combinations........................................................................................................................................................................ 34.29 — Interest capitalisation........................................................................................................................................................................................................................... 21.25 48.76 Transfer to property, plant and equipment........................................................................................................................................................................... (6,162.83) (6,515.23) Foreign exchange translation differences.............................................................................................................................................................................. (0.42) (7.54) Hyperinflation adjustment................................................................................................................................................................................................................. 6.94 2.26 Impairment losses recognised........................................................................................................................................................................................................ (109.28) (140.80) Balance at the end of the year................................................................................................................................................................................................ 2,368.02 3,652.56 Ageing of capital work in progress Rupees crores Amount in Capital work-in-progress for a period of Particulars Less than 1 year 1-2 years 2-3 years More than 3 years Total As at 31st March, 2026 Projects in progress ................................................................................................................................... 2,078.22 212.76 43.46 33.58 2,368.02 Total ..................................................................................................................................................................... 2,078.22 212.76 43.46 33.58 2,368.02 As at 31st March, 2025 Projects in progress ................................................................................................................................... 3,271.52 301.85 33.51 45.68 3,652.56 Total ..................................................................................................................................................................... 3,271.52 301.85 33.51 45.68 3,652.56

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