Mahindra & Mahindra Limited, a leading Indian multinational automotive manufacturing corporation, has completed a significant transfer of equity shares to its employees under its Employee Stock Option Scheme. The company made this announcement on November 10, 2025, in compliance with listing undertakings to multiple stock exchanges.

Details of the Share Transfer

The transfer involved the Mahindra & Mahindra Employees' Stock Option Trust transferring shares to stock option grantees who had exercised their options. Here are the key details of the transfer:

• Date of Transfer: November 10, 2025
• Total Number of Shares Transferred: 51,040
• Number of Grantees: 113

Top Recipients of Shares

While the transfer benefited 113 employees, some received a significantly larger number of shares. Here are the top five recipients:

Regulatory Compliance

Mahindra & Mahindra demonstrated its commitment to transparency by promptly informing multiple stock exchanges about these transfers. The notifications were sent to:

• National Stock Exchange of India
• BSE Limited
• Luxembourg Stock Exchange
• London Stock Exchange

This action aligns with the company's obligations under various listing agreements and underscores its adherence to corporate governance standards.

Implications of the Share Transfer

The transfer of shares under the Employee Stock Option Scheme serves multiple purposes:

1. Employee Retention: It provides an incentive for key employees to remain with the company.
2. Alignment of Interests: By making employees shareholders, it aligns their interests more closely with those of the company and its other shareholders.
3. Performance Motivation: Stock options can serve as a motivator for employees to contribute to the company's success.

This move by Mahindra & Mahindra reflects a commitment to its human capital, recognizing the role employees play in the company's growth and success.

As the automotive industry evolves, particularly with the shift towards electric vehicles and sustainable mobility solutions, retaining and motivating key talent becomes increasingly important. Mahindra & Mahindra's action in this regard may help position it to navigate the challenges and opportunities in the changing automotive landscape.

Mahindra & Mahindra has reported impressive growth in production, sales, and financial performance for October, while also highlighting a significant increase in October sales for SML Mahindra Ltd (formerly known as SML Isuzu Ltd).

October Performance

Mahindra & Mahindra's total sales surged 24.8% year-on-year in October to 1.18 lakh units, while production increased 5.7% to 94,637 units. The company submitted its data to various stock exchanges, including NSE, BSE, Luxembourg Stock Exchange, and London Stock Exchange. The report covers multiple vehicle categories:

Vehicle Sales Breakdown

• Utility Vehicles: Key models include:
  • Thar/Thar Roxx: 7,970 diesel and 608 petrol units
  • XUV3XO variants
  • Bolero: 7,216 units
  • Scorpio series
  • XUV700 models
• Electric Vehicles: 209 units of Electric Origin SUV
• Three-Wheelers: Various electric models, including Treo with 6,526 passenger units
• Commercial Vehicles: 23,322 total sales

The figures include sales from subsidiary companies Mahindra Electric Automobile Limited and Mahindra Last Mile Mobility Limited.

Quarterly Financial Performance

Mahindra & Mahindra reported strong quarterly results:

• Revenue: Rose 21.3% to Rs 33,421.60 crore
• Net Profit: Up 18% to Rs 4,520.52 crore (exceeding analyst estimates of Rs 3,978.92 crore)

Segment Performance

• Automotive: 13% volume growth
  • Utility vehicles: 146,000 units
  • SUV market share: Increased to 25.7%
• Farm Equipment:
  • Tractor volumes: Rose 32% to 123,000 units
  • Market share: Improved to 43.0%
• Electric Three-Wheelers: Maintained 42.3% market share

SML Mahindra's Growth

SML Mahindra Ltd reported impressive growth:

Strategic Moves

• Mahindra & Mahindra acquired a 58.96% stake in SML Mahindra for ₹555.00 crore
• The acquisition led to a rebranding and is expected to strengthen the company's position in the commercial vehicle market
• SML Mahindra currently holds approximately 16% market share in the intermediate and light commercial vehicle bus segment
• Mahindra & Mahindra sold a 3.45% stake in RBL Bank worth Rs 678 crore at Rs 317 per share

Market Response

SML Mahindra's shares closed 0.32% higher at ₹3,145.00 on the National Stock Exchange, indicating investor confidence in the company's prospects under the new management.

As both Mahindra & Mahindra and SML Mahindra continue to navigate their strategic alignment, the strong October sales figures for both entities suggest a positive trajectory. The coming quarters will be crucial in demonstrating the effectiveness of the new strategic direction and its impact on both companies' financial performance and market positions.