Tech Mahindra Limited shareholders approved the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026, at the 39th Annual General Meeting held on July 17, 2026. The meeting, conducted via video conferencing, also confirmed the interim dividend and declared the final dividend for FY26. Additionally, Dr. Anish Shah received approval for his re-appointment as a Non-Executive Director. However, a resolution regarding the appointment of Mr. Krishnam Parasramka was excluded from voting following a court order.

The voting process, supervised by Scrutinizer Mr. Jayavant B. Bhavé, utilized remote e-voting from July 13 to July 16 and e-voting during the meeting. A total of 7,70,911 shareholders were eligible as of the cut-off date of July 10, 2026. The proceedings complied with Regulation 44(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Results Summary

All four ordinary resolutions were passed with a requisite majority. The adoption of financial statements and dividend declarations received overwhelming support, while the re-appointment of Dr. Anish Shah saw 96.9984% of votes in favour.

Legal Constraints on Appointment

The resolution for the appointment of Mr. Krishnam Parasramka, proposed by Café Networks Limited under Section 160 of the Companies Act, 2013, was not taken up for voting. The company received an ad-interim order dated July 14, 2026, from the Civil Court at Kolkata, restraining the company from conducting a poll or declaring results for this specific item. Consequently, the resolution was excluded from the voting process in compliance with the court order.

Tech Mahindra has extended the timeline for completing the acquisition of a 20% equity stake in its subsidiary, Tech Mahindra Arabia Limited, to August 31, 2026. The extension was mutually agreed upon between Tech Mahindra London Limited (TMLL), a wholly-owned subsidiary, and Midad Company Limited (Midad) on July 16, 2026, as certain conditions precedent for the transaction are still underway.

The acquisition is being pursued pursuant to the exercise of a put option by Midad. Upon completion, Tech Mahindra and TMLL will collectively hold 100% shareholding in Tech Mahindra Arabia Limited. The transaction is classified as a related party transaction under Regulation 2(1)(zc) of the SEBI Listing Regulations and is being conducted on an arm's length basis.

Transaction Details

The acquisition involves the purchase of 200 equity shares of 1000 SAR each, representing the remaining 20% stake in the Saudi Arabia-based entity. The cost of acquisition is set at SAR 83.7 million, approximately equivalent to ₹206.2 crore based on an exchange rate of ₹24.64 per SAR. The consideration will be paid in cash.

Regulatory and Financial Context

Completion of the transaction is subject to approvals from the General Authority for Competition (GAC) in the Kingdom of Saudi Arabia. Tech Mahindra Arabia Limited operates in the IT services sector, providing digital system integration and consulting services for the energy, utilities, banking, and telecom sectors.

For the financial year ended March 31, 2025, the target entity reported a turnover of SAR 181.6 million and a net worth of SAR 86.57 million. The company's turnover has grown from SAR 161.34 million in FY2022-23 to SAR 181.56 million in FY2024-25.