485 FINANCIAL STATEMENTS | Consolidated Accounts Part “A” Subsidiaries [as per section 2(87) of the Companies Act, 2013] (Continued) Rupees crores Sr. No. Name of Subsidiary The date since when subsidiary was acquired Reporting currency Exchange rate Share Capital Reserves & Surplus Total Assets Total Liabilities Investments Gross Turnover^ Profit/(Loss) before Tax Provision for Tax Profit/ (Loss) after Tax Proposed Dividend Proportion of ownership interest @ ## 136 Mahindra Logistics Limited 12/12/2007 INR 1.0000 99.22 1,377.17 3,034.45 1,558.06 855.19 5,671.98 58.20 15.18 43.02 24.80 59.58% 137 2 x 2 Logistics Private Limited 22/10/2012 INR 1.0000 9.01 17.89 86.81 59.91 — 111.21 19.30 4.89 14.41 — 32.77% 138 Lords Freight (India) Private Limited 07/08/2014 INR 1.0000 2.36 57.22 102.51 42.93 — 343.46 9.88 2.53 7.35 — 59.58% 139 MLL Express Services Private Limited 05/12/2019 INR 1.0000 596.83 (369.12) 402.84 175.13 — 459.16 (68.27) — (68.27) — 59.58% 140 MLL Mobility Private Limited 05/12/2019 INR 1.0000 0.64 48.29 150.89 101.96 3.00 400.16 9.82 — 9.82 — 59.58% 141 V—Link Freight Services Private Limited 09/09/2022 INR 1.0000 3.02 (3.18) 0.05 0.21 — 4.55 (0.49) — (0.49) — 59.58% 142 Zipzap Logistics Private Limited 22/12/2023 INR 1.0000 0.64 33.84 51.64 17.16 — 219.71 4.91 — 4.91 — 38.19% 143 Mahindra Aerospace Private Limited 28/02/2008 INR 1.0000 1,010.93 (522.39) 488.76 0.22 485.34 0.25 16.40 — 16.40 — 100.00% 144 Mahindra Aerostructures Private Limited 27/01/2011 INR 1.0000 577.84 (303.03) 470.98 196.17 1.05 321.19 1.59 — 1.59 — 100.00% 145 Mahindra Sustainable Energy Private Limited 25/06/2017 INR 1.0000 128.26 (0.23) 128.09 0.06 127.01 0.15 (0.10) — (0.10) — 100.00% 146 Mahindra & Mahindra Contech Limited 16/09/2025 INR 1.0000 0.15 22.27 23.36 0.94 7.88 3.89 1.94 0.48 1.46 — 99.99% 147 New Democratic Electoral Trust 16/09/2025 INR 1.0000 0.10 (0.10) * * — — (0.03) * (0.03) — 58.27% 148 PSL Media & Communications Limited 16/09/2025 INR 1.0000 0.05 2.75 2.83 0.03 0.88 — 0.11 0.03 0.07 — 71.99% 149 Mahindra Construction Company Limited 28/11/2017 INR 1.0000 2.40 (24.46) 0.91 22.97 — — 0.01 0.44 (0.43) — 65.88% Notes * denotes amounts less than Rs. 50,000. ^ Gross turnover means revenue from operations of respective entities. ** denotes companies yet to commence operations # denotes companies where reporting period is different from 1st April, 2025 to 31st March, 2026. The financial year for all other subsidiaries is 1st April, 2025 to 31st March, 2026. $ Based on unaudited financial statements as audit is not required as per their local laws $$ incorporated in current financial year and will prepare its first statutory accounts in next financial year @ excluding shares issued to ESOP Trusts of the respective entities/their holding companies but not allotted to employees ## There are no companies where voting power is different from ownership interests. £ 200 shares are held by investors List of subsidiaries which have ceased to exist during the year on account of Liquidation/Sale/Merger through scheme of arrangement are as under: (a) Sampo Rosenlew Oy (b) MLL Global Logistics Limited (c) Mahindra Aerospace Australia Pty Limited
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