Mahindra & Mahindra Limited has submitted its quarterly compliance certificate to the National Stock Exchange of India Limited and BSE Limited, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018. The certificate covers the company's adherence to dematerialization procedures for the period from 1st January 2026 to 31st March 2026.

Regulatory Filing Details

The compliance certificate was filed on 9th April 2026 by Company Secretary Sailesh Kumar Daga. The submission was made to both major Indian stock exchanges as well as international exchanges including Luxembourg Stock Exchange and London Stock Exchange Plc.

Registrar Confirmation

KFin Technologies Limited, serving as the company's Registrar and Share Transfer Agent, provided the compliance confirmation on 6th April 2026. The registrar confirmed completion of all required dematerialization procedures within the stipulated timeframes.

Compliance Activities Confirmed

KFin Technologies confirmed the following activities were completed during the reporting period:

• Demat Request Processing: All dematerialization requests were confirmed (approved or rejected) within 15 days of receipt from depository participants
• Securities Verification: Confirmation provided to depositories that securities in the certificates were listed on stock exchanges where previously issued securities are traded
• Certificate Cancellation: Physical security certificates were immediately mutilated and cancelled after proper verification
• Register Updates: Depository names were substituted in the register of members as registered owners for approved demat requests

Operational Framework

The certificate demonstrates Mahindra & Mahindra's continued compliance with SEBI's regulatory framework governing depositories and participants. KFin Technologies, operating from its centers in Hyderabad and Mumbai, manages the technical aspects of share transfer and dematerialization processes for the company.

The filing represents routine quarterly compliance reporting, ensuring transparency in the company's share transfer and dematerialization operations while maintaining adherence to SEBI's regulatory requirements for listed companies.

Mahindra & Mahindra Limited has announced its decision to acquire a 26% stake in Neon Hybren Private Limited, a step-down subsidiary, for up to Rs. 11.17 crores. The company approved this acquisition on 9th April 2026 and subsequently executed a Share Subscription and Shareholders Agreement with Neon and Mahindra Susten Private Limited.

Strategic Solar Power Initiative

The acquisition forms part of Neon's plan to establish a Group Captive Power Plant in Punjab, India. The facility will supply power generated from a grid-connected photovoltaic ground-mounted captive power plant to Mahindra & Mahindra on a captive basis. To comply with the Electricity Rules 2005, the company is required to hold at least 26% of Neon's share capital to qualify as a captive user.

Corporate Structure and Ownership Changes

Neon Hybren Private Limited is currently a wholly owned subsidiary of Mahindra Susten Private Limited, which in turn is a subsidiary of Mahindra Holdings Limited. Mahindra Holdings Limited is a wholly owned subsidiary of Mahindra & Mahindra Limited, making Neon a step-down subsidiary of the parent company.

Upon completion of the transaction, Mahindra Susten Private Limited's shareholding in Neon will be diluted from 100% to 74%, while Mahindra & Mahindra will directly hold 26% equity shares. Despite this change, Neon will continue to remain a step-down subsidiary of the company.

Financial Profile of Neon Hybren

Neon Hybren Private Limited was incorporated on 3rd May 2024 and is primarily involved in production and sale of power, generating electricity, and distributed energy services including rooftop solar installations for commercial, industrial, institutional and residential segments.

The company reported nil revenue from operations and a net loss of Rs. 9.23 lakhs for the year ended 31st March 2025, with a net worth of Rs. 10.77 lakhs.

Regulatory Compliance and Transaction Structure

The investment falls within the ambit of Related Party Transactions as per SEBI Listing Regulations and will be conducted on an arm's length basis. The transaction requires no governmental or regulatory approvals and will be executed through cash consideration. The proceeds from this investment will be utilized by Neon for future business operations and general corporate purposes.

The acquisition aligns with Mahindra & Mahindra's renewable energy initiatives and ensures compliance with captive power regulations while maintaining operational control through its subsidiary structure.