Mahindra & Mahindra Limited has announced that its ESG (Environmental, Social, and Governance) rating has been assigned as 74, according to a regulatory filing dated December 10, 2025. The company disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ESG Rating Assessment Details

The ESG rating was assigned by NSE Sustainability Ratings Analytics Limited, a SEBI-registered ESG Rating Provider. The assessment was conducted independently by the rating agency, utilizing data pertaining to FY2024-25 that is available in the public domain.

Independent Assessment Clarification

Mahindra & Mahindra emphasized that the company did not engage NSE Sustainability Ratings Analytics Limited for this ESG rating assessment. The rating agency independently prepared the report based on publicly available data pertaining to the company's FY2024-25 performance. This clarification underscores the objective nature of the assessment and demonstrates that the rating was achieved without any direct engagement or influence from the company.

Regulatory Compliance and Transparency

The company has fulfilled its regulatory obligations by informing all relevant stock exchanges about this ESG rating update. The notification was sent to:

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

Additionally, Mahindra & Mahindra has uploaded this information on its official website at www.mahindra.com , ensuring transparency and accessibility for all stakeholders including investors, analysts, and other interested parties.

ESG Rating Significance

The ESG rating of 74 reflects the company's environmental, social, and governance practices during FY2024-25. ESG ratings have become increasingly important for investors and stakeholders as they evaluate companies' sustainability practices and long-term viability. The rating provides insights into various ESG parameters that are typically assessed by rating agencies based on publicly available corporate data.

Tech Mahindra has taken a significant step toward expanding its African operations through the creation of a new subsidiary. The IT services giant's Comviva Group has established Yabx Technologies Tanzania as a step-down subsidiary, marking a strategic move to strengthen the company's foothold in the African technology market.

Strategic Expansion Initiative

The formation of Yabx Technologies Tanzania represents Tech Mahindra's focused approach to capturing opportunities in Africa's growing digital economy. This subsidiary will serve as a dedicated platform for delivering software and analytics services across the continent, positioning the company to better serve local markets and clients.

Subsidiary Structure and Operations

The step-down subsidiary structure allows Tech Mahindra to maintain operational flexibility while ensuring proper governance and strategic alignment with the parent company's objectives. This approach enables localized decision-making while benefiting from the broader organization's resources and expertise.

Service Portfolio Focus

Yabx Technologies Tanzania will concentrate on delivering comprehensive software and analytics services tailored to the African market's specific needs. The subsidiary's mandate includes developing solutions that address local business challenges while leveraging Tech Mahindra's global technology capabilities and industry expertise.

Market Positioning Strategy

The establishment of this subsidiary demonstrates Tech Mahindra's commitment to the African market's long-term potential. By creating a local presence through Yabx Technologies Tanzania, the company aims to build stronger relationships with regional clients and partners while contributing to the continent's digital transformation initiatives.

This strategic move aligns with the broader trend of global technology companies recognizing Africa as an emerging hub for digital innovation and economic growth. The subsidiary structure provides Tech Mahindra with the operational foundation needed to scale its services effectively across multiple African markets.