Tech Mahindra has announced that its step-down subsidiary, HCI Group Australia Pty Ltd, was voluntarily liquidated and deregistered effective May 27, 2026. The subsidiary ceased operations during the financial year 2025-26 as it was under liquidation. The company received the intimation regarding this development on June 23, 2026, at 6.04 p.m. (IST).

The disclosure was made to the stock exchanges in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification detailed the financial impact of the subsidiary's closure during the previous financial year.

HCI Group Australia Pty Ltd reported a revenue of AUD 3.69 Mn for the financial year ended March 31, 2025. However, the subsidiary had a negative net worth of AUD 7.56 Mn during the same period. The financial data indicates that the entity was not operational in the financial year 2025-26 due to the liquidation process.

The liquidation was not part of a slump sale, nor did it involve any agreement for sale or consideration received from buyers. The transaction did not fall within related party transactions and was conducted outside a Scheme of Arrangement. Tech Mahindra confirmed that no buyers were involved as the entity was deregistered following voluntary liquidation.

Financial Details of HCI Group Australia Pty Ltd

Tech Mahindra filed its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26 with the stock exchanges. The report details the company's performance against the National Guidelines on Responsible Business Conduct (NGRBC) and outlines its material sustainability issues and mitigation strategies.

The company has identified ethics and compliance, cyber security, climate change, innovation, and human rights as its material responsible business conduct issues. To address climate risks, Tech Mahindra is targeting net zero greenhouse gas emissions by 2035, supported by a 5-year ESG roadmap. The company reported that its renewable energy mix increased to 26.45% in FY26 from a baseline of 1.77% in FY15-16.

Operational and Employee Metrics

As of March 31, 2026, the company had a total workforce of 140,216 employees, including 8,714 other than permanent employees. The gender diversity stood at 34.6% female representation. The Board of Directors comprised 10 members, with 4 women, representing a 40% diversity ratio.

Sustainability and Assurance

The report disclosed that 93.46% of the company's total turnover was derived from exports. On the environmental front, 100% of the company's value chain partners, assessed by value of business done, were evaluated for environmental impacts. DNV Business Assurance India Private Limited provided reasonable assurance for the BRSR Core indicators and limited assurance for ESG data.

The company confirmed that it did not have any operations in ecologically sensitive areas requiring environmental clearances. Furthermore, there were zero complaints from employees regarding working conditions or health and safety during FY26.