Related party transactions for H1FY27 disclosed, entries marked approved by audit committee
Mahindra & Mahindra disclosed related party transactions for the half year ended 30 September 2026.
By ScoutQuest · · 2 min read
- Largest sale of goods/services
- Rs. 10,677.32 crore to Mahindra Electric Automobile Ltd, a subsidiary
- Largest purchase of goods/services
- Rs. 2,184.22 crore from Mahindra Logistics Ltd
- Disclosure period
- half year ended 30 September 2026
What the company disclosed
Mahindra & Mahindra has published its related party transaction disclosure for the half year ended 30 September 2026, covering deals between the company and parties connected to it — subsidiaries, associates, joint ventures, and relatives of directors or managers. Each row names the counterparty, its relationship with the company, the type of transaction (sale of goods or services, purchase of goods or services, sale or purchase of fixed assets, interest received) and the value during the reporting period.
Largest sale of goods or services
- Mahindra Electric Automobile Limited, a subsidiary: Rs. 10,677.32 crore
- Mahindra & Mahindra South Africa (Proprietary) Limited, a subsidiary: Rs. 786.96 crore
- Mahindra Last Mile Mobility Limited, a subsidiary: Rs. 720.41 crore
- Mahindra USA Inc., a subsidiary: Rs. 322.18 crore
- NBS International Limited, a subsidiary: Rs. 277.81 crore
- M.I.T.R.A Agro Equipments Private Limited, a subsidiary: Rs. 126.54 crore
- Mahindra Do Brasil Industrial Ltda., a subsidiary: Rs. 115.51 crore
- Ideal Motors Private Limited, a related party of subsidiaries: Rs. 111.36 crore
Largest purchase of goods or services
- Mahindra Logistics Limited, a subsidiary: Rs. 2,184.22 crore
- Swaraj Engines Limited, a subsidiary: Rs. 1,216.34 crore
- Mahindra Accelo Limited, a subsidiary: Rs. 713.06 crore
- Asahi India Glass Limited, a related party of subsidiaries: Rs. 321.51 crore
- Tech Mahindra Limited, an associate: Rs. 215.62 crore
- CIE Automotive India Limited, an associate: Rs. 198.97 crore
- Mahindra Auto Steel Private Limited, a subsidiary: Rs. 169.25 crore
- Golde Pune Automotive India, Pvt Ltd., an associate: Rs. 161.68 crore
Fixed assets and interest
- Purchase of fixed assets from Mahindra Integrated Business Solutions Private Limited: Rs. 106.88 crore
- Purchase of fixed assets from MAM Co., Ltd.: Rs. 91.49 crore
- Interest received from Mahindra Lifespace Developers Limited: Rs. 18.98 crore
- Interest received from Classic Legends Private Limited: Rs. 13.41 crore
- Interest received from Mahindra Defence Systems Limited: Rs. 11.41 crore
Approval status
Every entry carries a value as approved by the audit committee and is marked Approved. For interest received from Mahindra Educational Institutions, the approved value shows as "-" against that column, the ratified value is Rs. 1.66 crore, and the value of the transaction during the reporting period is also Rs. 1.66 crore.
How to read this
A related party transaction is a deal between the company and a business or person connected to it — for example a subsidiary, an associate, or a relative of a director. Because such deals can carry a conflict-of-interest angle, listed companies disclose them periodically with the approved value and the actual value for the period.
The picture here is of continuing commercial dealings — mostly sale and purchase of goods and services — with group companies across vehicle, tractor, logistics, steel, components and overseas distribution businesses, plus interest received on amounts due. Large numbers here reflect the size of the group network rather than a single new event, and the disclosure shows the audit committee has approved the values listed.
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More numbers
- Sale of goods/services to Mahindra Electric Automobile Ltd (subsidiary)10,677.32 (Rs. Crores)
- Purchase of goods/services from Mahindra Logistics Ltd (subsidiary)2,184.22 (Rs. Crores)
- Purchase of goods/services from Swaraj Engines Ltd (subsidiary)1,216.34 (Rs. Crores)
- Sale of goods/services to Mahindra & Mahindra South Africa (Proprietary) Ltd786.96 (Rs. Crores)
- Sale of goods/services to Mahindra Last Mile Mobility Ltd (subsidiary)720.41 (Rs. Crores)
- Purchase of goods/services from Mahindra Accelo Ltd (subsidiary)713.06 (Rs. Crores)
- Purchase of goods/services from Asahi India Glass Ltd321.51 (Rs. Crores)
- Purchase of goods/services from Tech Mahindra Ltd (associate)215.62 (Rs. Crores)
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