Mahindra & Mahindra has incorporated Novavayu Aerospace Limited (NAL) as a step-down subsidiary to expand its presence in the defence sector. The company received the Certificate of Incorporation from the Ministry of Corporate Affairs on July 30, 2026, confirming that NAL was incorporated on July 29, 2026. This move signals a strategic deepening of Mahindra & Mahindra's capabilities in aerospace manufacturing and related services.

The intimation was issued under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in compliance with SEBI Master Circular No. HO/49/14/14(7)/2025-CFDPOD2/I/3762/2026 dated January 30, 2026. The filing was signed by Sailesh Kumar Daga, Company Secretary, and copied to the Luxembourg Stock Exchange and London Stock Exchange Plc.

NAL is structured as a wholly owned subsidiary of Mahindra Defence Systems Limited (MDSL). MDSL itself is a wholly owned subsidiary of Mahindra Advanced Technologies Limited (MATL), which is a wholly owned subsidiary of Mahindra & Mahindra Limited. This multi-layered ownership structure positions NAL firmly within the group's advanced technology and defence ecosystem. The registered office of NAL is located in Mumbai, Maharashtra.

The primary business objective of Novavayu Aerospace Limited is the manufacture of aircrafts, aerospace products, and undertaking services and activities related thereto. No governmental or regulatory approvals were required for the incorporation of the entity. The consideration for the subscription was cash-based.

Capital Structure and Ownership

NAL was incorporated with an authorised capital of ₹1 crore, divided into 10,00,000 equity shares of ₹10 each. Mahindra Defence Systems Limited, along with its nominee, has subscribed to 1,00,000 equity shares of ₹10 each, aggregating to ₹10 lakh. As a result, NAL remains a wholly owned entity within the Mahindra & Mahindra group structure.

Strategic Implications

The incorporation of Novavayu Aerospace Limited reflects Mahindra & Mahindra's intent to consolidate and expand its defence manufacturing capabilities under a dedicated corporate vehicle. By establishing NAL as a step-down subsidiary through Mahindra Defence Systems Limited and Mahindra Advanced Technologies Limited, the group ensures operational alignment with its existing defence portfolio. The focus on aircraft and aerospace products suggests a targeted approach towards high-value defence contracts and indigenous manufacturing initiatives.

Mahindra & Mahindra Limited concluded its 80th Annual General Meeting (AGM) on July 30, 2026, with shareholders approving the company’s audited financial statements for the fiscal year ended March 31, 2026, and declaring a dividend on equity shares. The meeting, held via video conferencing from the registered office in Mumbai, also addressed governance matters including the re-appointment of directors and the ratification of key related-party transactions.

The proceedings were conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant provisions of the Companies Act, 2013. All existing directors were present except Ms. Padmasree Warrior. Representatives of the statutory auditors, cost auditor, and secretarial auditor attended, alongside Chief Financial Officer Amarjyoti Barua and Company Secretary Sailesh Kumar Daga.

Ordinary Business Resolutions

Shareholders approved the following ordinary resolutions:

Special Resolution

A special resolution was passed to approve the payment of remuneration to Anand G. Mahindra (DIN: 00004695) in his capacity as Non-Executive Chairman of the company.

Voting and Compliance

The meeting was scrutinized by Practicing Company Secretary Dilip Bharadiya (FCS: 7956). Shareholders exercised their voting rights through remote e-voting between July 25 and July 29, 2026, and during the AGM. The combined results of the e-voting, along with the Scrutiniser’s Report, will be communicated within prescribed timelines. The AGM concluded at 5:15 p.m. IST.