Shareholding Pattern: Shareholding Pattern Mahindra & Mahindra Ltd. An Examination of Financial Performance for FY (Q4-Mar 2023-2024)

Shareholder Name	Previous Quater Quantity(In Crores)	Current Quater Quantity(In Crores)	Previous Quater Shares(in %)	Current Quater Shares(in %)	Quater to Quater Difference
Promoters	23.50	22.57	19.32	18.59	-0.73 %
Public	93.52	94.26	9.71	9.71	0
DII	31.93	31.71	26.26	26.13	-0.13 %
FII	49.69	50.68	40.87	41.75	+0.88 %
Government	0.09	0.09	0.07	0.07	0

Promoters’ shareholding decreased from 19.32% in December 2023 to 18.59% in March 2024. This reduction indicates that the promoters’ control over Company has weakened during this period.Public shareholding remained consistent, holding steady at 9.71% in both December 2023 and March 2024. This indicates that the Public control over the company did not change during this period. Domestic Institutional Investor’s (DII) shareholding decreased slightly from 26.26% in December 2023 to 26.13% in March 2024 , indicating that domestic institutions reduced their -0.13 stake in the company.FIIs (Foreign Institutional Investors): There was a significant increase from 40.87% in December 2023 to 41.75% in March 2024. This suggests that foreign institutions grew their investments 0.88 in the company during the quarter. During quater from December 2023 to March 2024, Goverenment ownership remained steady at 0.07%.This indicates that the government’s stake in the company remained consistent during this period.

Let’s delve deeper into the statistics of the investors, which could have contributed to the fluctuations in the shareholding pattern.

Shareholder Name	Previous Quarter Quantity (In crores)	Current Quarter Quantity (In crores)	Previous Quarter Shares (in %)	Current Quarter Shares (in %)	Quarter-to-Quarter Difference (%)
LEENA S LABROO $	0	0.156	0	0.13	+0.13%
NISHEETA LABROO	0	0.017	0	0.01	+0.01%
ANEESHA LABROO	0	0.017	0	0.01	+0.01%
UMA R MALHOTRA	0	0.155	0	0.13	+0.13%
DEEPAK VARDE@	0	0.009	0	0.01	+0.01%
PRUDENTIAL MANAGEMENT & SERVICES PRIVATE LIMITED	14.152	13.222	11.64	10.89	-0.75 %
M&M BENEFIT TRUST (Bharat N Doshi , A.K.Nanda, Uday Kotak, M.M.Murugappan and Padmini Khare -Trustees)	0	8.447	0	6.96	+6.96%
Yuthica Mahindra Family Trust (Uma Malhotra, Leena Labroo & Yuthica Mahindra- Trustees)	0	0.099	0	0.08	+0.08%
CHETAN VARDE *+	0	0.037	0	0.03	+0.03%
LEENA S LABROO#@	0.156	0	0.13	0	-0.13%
NISHEETA LABROO@	0.017	0	0.01	0	-0.01%
ANEESHA LABROO@	0.017	0	0.01	0	-0.01%
SUDHA KESHUB MAHINDRA^	0.031	0	0.03	0	-0.03%
UMA R MALHOTRA#@	0.155	0	0.13	0	-0.13%
DEEPAK VARDE*	0.009	0	0.01	0	-0.01%
M&M BENEFIT TRUST (Bharat N Doshi,A.K.Nanda,Uday Kotak, M.M.Murugappan & Padmini Khare-Trustees)	8.447	0	6.95	0	-6.95%
Yuthica Mahindra Family Trust (Uma Malhotra, Leena Labroo and Yuthica Mahindra – Trustees)	0.099	0	0.08	0	-0.08%
CHETAN VARDE**	0.007	0	0.01	0	-0.01%

PRUDENTIAL MANAGEMENT & SERVICES PRIVATE LIMITED faced a downturn in profitability this quarter, witnessing a decline of -0.75 % in profits compared to the previous quarter. Delving into the underlying factors driving this shift is crucial for charting a path towards sustained financial growth.LEENA S LABROO $ had no shares in the previous quarter but now holds 0.13% of shares in the current quarter.NISHEETA LABROO had no shares in the previous quarter but now holds 0.01% of shares in the current quarter.ANEESHA LABROO had no shares in the previous quarter but now holds 0.01% of shares in the current quarter.UMA R MALHOTRA had no shares in the previous quarter but now holds 0.13% of shares in the current quarter.DEEPAK VARDE@ had no shares in the previous quarter but now holds 0.01% of shares in the current quarter.M&M BENEFIT TRUST (Bharat N Doshi , A.K.Nanda, Uday Kotak, M.M.Murugappan and Padmini Khare -Trustees) had no shares in the previous quarter but now holds 6.96% of shares in the current quarter.Yuthica Mahindra Family Trust (Uma Malhotra, Leena Labroo & Yuthica Mahindra- Trustees) had no shares in the previous quarter but now holds 0.08% of shares in the current quarter.CHETAN VARDE *+ had no shares in the previous quarter but now holds 0.03% of shares in the current quarter.LEENA S LABROO#@ had 0.13% of shares in the previous quarter but exited in the current quarter.NISHEETA LABROO@ had 0.01% of shares in the previous quarter but exited in the current quarter.ANEESHA LABROO@ had 0.01% of shares in the previous quarter but exited in the current quarter.SUDHA KESHUB MAHINDRA^ had 0.03% of shares in the previous quarter but exited in the current quarter.UMA R MALHOTRA#@ had 0.13% of shares in the previous quarter but exited in the current quarter.DEEPAK VARDE* had 0.01% of shares in the previous quarter but exited in the current quarter.M&M BENEFIT TRUST (Bharat N Doshi,A.K.Nanda,Uday Kotak, M.M.Murugappan & Padmini Khare-Trustees) had 6.95% of shares in the previous quarter but exited in the current quarter.Yuthica Mahindra Family Trust (Uma Malhotra, Leena Labroo and Yuthica Mahindra – Trustees) had 0.08% of shares in the previous quarter but exited in the current quarter.CHETAN VARDE** had 0.01% of shares in the previous quarter but exited in the current quarter.

Shareholder Name	Previous Quarter Quantity (In Crores)	Current Quarter Quantity (In Crores)	Previous Quater Shares (in %)	Current Quater Shares (in %)	Quater-to-Quater Difference (%)
Resident Individuals holding nominal share capital up to Rs. 2 lakhs	8.302	8.323	6.83	6.86	+ 0.03 %
Resident Individuals holding nominal share capital in excess of Rs. 2 lakhs	1.421	1.385	1.17	1.14	-0.03 %
Non Resident Indians (NRIs)	0.586	0.598	0.48	0.49	+ 0.01 %
Any Other (specify)	0.349	0.328	0.29	0.27	-0.02 %
Clearing Members	0.044	0.029	0.04	0.02	-0.02 %

Spearheading a savvy charge towards increased profitability, Resident Individuals holding nominal share capital up to Rs. 2 lakhs lifts the bar with a remarkable 0.03 % enhancement in net profit, revealing adroit resource allocation and sharpened commercial instincts.Observations indicate a sizeable -0.03 % variance in Resident Individuals holding nominal share capital in excess of Rs. 2 lakhs’s fiscal performance between quarters, necessitating thorough investigation of salient aspects to enable future-proof strategies centered around lasting development.Spearheading a savvy charge towards increased profitability, Non Resident Indians (NRIs) lifts the bar with a remarkable 0.01 % enhancement in net profit, revealing adroit resource allocation and sharpened commercial instincts.Observations indicate a sizeable -0.02 % variance in Any Other (specify)’s fiscal performance between quarters, necessitating thorough investigation of salient aspects to enable future-proof strategies centered around lasting development.Observations indicate a sizeable -0.02 % variance in Clearing Members’s fiscal performance between quarters, necessitating thorough investigation of salient aspects to enable future-proof strategies centered around lasting development.

Shareholder Name	Previous Quarter Quantity (In Crores)	Current Quarter Quantity (In Crores)	Previous Quater Shares (in %)	Current Quater Shares (in %)	Quater-to-Quater Difference (%)
Mutual Funds/	15.875	15.443	13.06	12.72	-0.34 %
AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS BLUECHIP FUND WITH SUB ACCOUNTS	1.382	1.325	1.14	1.09	-0.05 %
UTI – NIFTY EXCHANGE TRADED FUND WITH SUB ACCOUNTS	1.512	1.601	1.24	1.32	+ 0.08 %
HDFC TRUSTEE COMPANY LIMITED-HDFC FLEXI CAP FUND WITH SUB ACCOUNTS	1.880	1.502	1.55	1.24	-0.31 %
SBI NIFTY 50 ETF WITH SUB ACCOUNTS	4.454	4.574	3.66	3.77	+ 0.11 %
Alternate Investment Funds	1.076	0.970	0.88	0.8	-0.08 %
Banks	0.264	0.091	0.22	0.08	-0.14 %
Insurance Companies	12.781	13.209	10.51	10.88	+ 0.37 %
LIFE INSURANCE CORPORATION OF INDIA WITH SUB ACCOUNTS	0	8.080	0	6.66	+6.66%
Provident Funds/ Pension Funds	1.936	1.998	1.59	1.65	+ 0.06 %
NPS TRUST- A/C HDFC PENSION MANAGEMENT COMPANY LTD SCHEME E – TIER I WITH SUB ACCOUNTS	1.936	1.998	1.59	1.65	+ 0.06 %
LIFE INSURANCE CORPORATION OF INDIA WITH SUB ACCOUNTS@@	7.337	0	6.03	0	-6.03%

Mutual Funds/ decreased their stake from 12.72% in the previous quarter to 13.06% in the current quarter. It describes a decrease in stakes over consecutive quarters, specifically by -0.34 %.AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS BLUECHIP FUND WITH SUB ACCOUNTS decreased their stake from 1.09% in the previous quarter to 1.14% in the current quarter. It describes a decrease in stakes over consecutive quarters, specifically by -0.05 %.The latest quarter saw a considerable enhancement in profitability for UTI – NIFTY EXCHANGE TRADED FUND WITH SUB ACCOUNTS, reflecting an uptick of 0.08 % in their net earnings. Such an outcome implies the successful implementation of sound cost optimization techniques and increased income sources, ultimately highlighting the favorable effect of the investor on the corporation’s overall monetary welfare.HDFC TRUSTEE COMPANY LIMITED-HDFC FLEXI CAP FUND WITH SUB ACCOUNTS decreased their stake from 1.24% in the previous quarter to 1.55% in the current quarter. It describes a decrease in stakes over consecutive quarters, specifically by -0.31 %.The latest quarter saw a considerable enhancement in profitability for SBI NIFTY 50 ETF WITH SUB ACCOUNTS, reflecting an uptick of 0.11 % in their net earnings. Such an outcome implies the successful implementation of sound cost optimization techniques and increased income sources, ultimately highlighting the favorable effect of the investor on the corporation’s overall monetary welfare.Alternate Investment Funds decreased their stake from 0.8% in the previous quarter to 0.88% in the current quarter. It describes a decrease in stakes over consecutive quarters, specifically by -0.08 %.Banks decreased their stake from 0.08% in the previous quarter to 0.22% in the current quarter. It describes a decrease in stakes over consecutive quarters, specifically by -0.14 %.The latest quarter saw a considerable enhancement in profitability for Insurance Companies, reflecting an uptick of 0.37 % in their net earnings. Such an outcome implies the successful implementation of sound cost optimization techniques and increased income sources, ultimately highlighting the favorable effect of the investor on the corporation’s overall monetary welfare.The latest quarter saw a considerable enhancement in profitability for Provident Funds/ Pension Funds, reflecting an uptick of 0.06 % in their net earnings. Such an outcome implies the successful implementation of sound cost optimization techniques and increased income sources, ultimately highlighting the favorable effect of the investor on the corporation’s overall monetary welfare.The latest quarter saw a considerable enhancement in profitability for NPS TRUST- A/C HDFC PENSION MANAGEMENT COMPANY LTD SCHEME E – TIER I WITH SUB ACCOUNTS, reflecting an uptick of 0.06 % in their net earnings. Such an outcome implies the successful implementation of sound cost optimization techniques and increased income sources, ultimately highlighting the favorable effect of the investor on the corporation’s overall monetary welfare.LIFE INSURANCE CORPORATION OF INDIA WITH SUB ACCOUNTS had no shares in the previous quarter but now holds 6.66% of shares in the current quarter.LIFE INSURANCE CORPORATION OF INDIA WITH SUB ACCOUNTS@@ had 6.03% of shares in the previous quarter but exited in the current quarter.

Shareholder Name	Previous Quarter Quantity (In Crores)	Current Quarter Quantity (In Crores)	Previous Quater Shares (in %)	Current Quater Shares (in %)	Quater-to-Quater Difference (%)
Foreign Portfolio Investors Category I	48.082	49.173	39.54	40.51	+ 0.97 %
VANGUARD EMERGING MARKETS STOCK INDEX FUND, A SERIES OF VANGUARD INTERNATIONAL EQUITY INDEX FUNDS	1.272	1.256	1.05	1.03	-0.02 %
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND	1.276	1.289	1.05	1.06	+ 0.01 %
KUWAIT INVESTMENT AUTHORITY FUND 601 WITH SUB ACCOUNTS	1.382	1.301	1.14	1.07	-0.07 %
GOVERNMENT PENSION FUND GLOBAL	1.841	1.709	1.51	1.41	-0.1 %
GOVERNMENT OF SINGAPORE	2.753	2.550	2.26	2.1	-0.16 %
FIRST SENTIER INVESTORS ICVC – STEWART INVESTORS ASIA PACIFIC LEADERS SUSTAINABILITY FUND	2.968	2.740	2.44	2.26	-0.18 %
Foreign Portfolio Investors Category II	1.610	1.508	1.32	1.24	-0.08 %

During this past quarter, there was a noteworthy upswing in profitability for Foreign Portfolio Investors Category I, which experienced a significant increase of 0.97 % in net profit.Profitability dwindled by -0.02 % for VANGUARD EMERGING MARKETS STOCK INDEX FUND, A SERIES OF VANGUARD INTERNATIONAL EQUITY INDEX FUNDS in comparison to the preceding quarter. To secure a foundation for prospective sustainable progress, investigating the factors prompting this decline is vital.During this past quarter, there was a noteworthy upswing in profitability for VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND, which experienced a significant increase of 0.01 % in net profit.Profitability dwindled by -0.07 % for KUWAIT INVESTMENT AUTHORITY FUND 601 WITH SUB ACCOUNTS in comparison to the preceding quarter. To secure a foundation for prospective sustainable progress, investigating the factors prompting this decline is vital.Profitability dwindled by -0.1 % for GOVERNMENT PENSION FUND GLOBAL in comparison to the preceding quarter. To secure a foundation for prospective sustainable progress, investigating the factors prompting this decline is vital.Profitability dwindled by -0.16 % for GOVERNMENT OF SINGAPORE in comparison to the preceding quarter. To secure a foundation for prospective sustainable progress, investigating the factors prompting this decline is vital.Profitability dwindled by -0.18 % for FIRST SENTIER INVESTORS ICVC – STEWART INVESTORS ASIA PACIFIC LEADERS SUSTAINABILITY FUND in comparison to the preceding quarter. To secure a foundation for prospective sustainable progress, investigating the factors prompting this decline is vital.Profitability dwindled by -0.08 % for Foreign Portfolio Investors Category II in comparison to the preceding quarter. To secure a foundation for prospective sustainable progress, investigating the factors prompting this decline is vital.