Meeting Details

The 80th AGM was held on Thursday, 30th July 2026 at 3:00 p.m. IST through Video Conferencing (VC). The meeting was deemed to be conducted at the Registered Office of the Company at Gateway Building, Apollo Bunder, Mumbai – 400 001.

Attendance

All existing Directors of the Company were present except Ms. Padmasree Warrior. The Chairpersons of all committees (Governance, Nomination and Remuneration Committee, Risk Management Committee, Audit Committee, Stakeholders Relationship Committee, and Corporate Social Responsibility Committee) were present. Representatives of the Secretarial Auditor, Cost Auditor, and Statutory Auditors were present. Chief Financial Officer Mr. Amarjyoti Barua and Company Secretary Mr. Sailesh Kumar Daga were present through VC.

Agenda and Resolutions

The following resolutions were transacted at the AGM:

Ordinary Business:

1. Consideration and Adoption of the Audited Standalone Financial Statements for FY ended 31st March 2026 and Reports of Board of Directors and Auditors (Ordinary Resolution)

2. Consideration and Adoption of the Audited Consolidated Financial Statements for FY ended 31st March 2026 and Report of Auditors (Ordinary Resolution)

3. Declaration of Dividend on Ordinary (Equity) Shares (Ordinary Resolution)

4. Re-appointment of Mr. Sat Pal Bhanoo (DIN:10482731) as a Director liable to retire by rotation (Ordinary Resolution)

5. Re-appointment of Mr. Ranjan Pant (DIN:00005410) as a Director liable to retire by rotation (Ordinary Resolution)

Special Business:

6. Ratification of Remuneration payable to M/s. D. C. Dave & Co., Cost Accountants (Firm Registration No. 000611) as Cost Auditors for FY ending 31st March 2027 (Ordinary Resolution)

7. Payment of Remuneration to Mr. Anand G. Mahindra (DIN: 00004695) as Non-Executive Chairman (Special Resolution)

8. Approval of Material Related Party Transactions between the Company and Mahindra Electric Automobile Limited, a Subsidiary (Ordinary Resolution)

9. Approval of Material Related Party Transactions between Mahindra USA Inc. (MUSA), a wholly owned subsidiary, and Mahindra Finance USA LLC (MFUSA), an associate of Mahindra & Mahindra Financial Services Limited, a subsidiary (Ordinary Resolution)

Voting Process

Mr. Dilip Bharadiya, Practicing Company Secretary (Membership No. FCS 7956) was appointed as Scrutiniser to scrutinise the E-voting process. Members were provided with remote E-voting facility from Saturday, 25th July 2026 (9:00 a.m. IST) to Wednesday, 29th July 2026 (5:00 p.m. IST). E-voting was also available during the AGM for members who had not voted remotely.

Shareholder Engagement

The Company Secretary briefed members on regulatory matters and general instructions. The Register of Directors and Key Managerial Personnel, Register of Contracts, Compliance Certificate, and other relevant documents were available electronically for inspection. Registered speaker shareholders sought clarifications on financial statements and resolutions, which were responded to by the Chairman.

Meeting Conclusion

The AGM E-voting lines remained open for 15 minutes after the Q&A session. The meeting concluded at 5:15 p.m. IST. The combined results of E-voting (remote and during AGM) along with the consolidated Scrutiniser's Report will be declared/communicated within prescribed timelines.

Compliance

The AGM was conducted in compliance with MCA General Circulars, SEBI circulars, Companies Act, 2013, and Secretarial Standards issued by ICSI.