Mahindra & Mahindra restructures defence units

26 Jun 2025 , 11:31 AM

Mahindra & Mahindra Limited announced that it has completed a series of share purchase agreements to restructure its defence business by transferring stakes between its wholly owned subsidiaries. 

The company announced that Mahindra Defence Systems Ltd will offload its entire stake in Mahindra Emirates Vehicle Armouring FZ LLC and Mahindra Telephonics Integrated Systems to Mahindra Advanced Technologies. Additionally, Mahindra & Mahindra will also sell its entire stake in MDSL to MATL.

The company has signed all the agreements on June 25, 2025. It expects to close these transactions by September 2023.

After completion of this transaction, MEVA and MTISL will become direct subsidiaries of MATL. On the other hand, MDSL will become an indirect subsidiary of Mahindra & Mahindra through MATL. Mahindra Armored Vehicles Jordan LLC, MEVA’s subsidiary, will also shift under MATL’s ownership.

MEVA announced that it logged an operational revenue of ₹90.09 Crore for FY25. The business contributed a marginal 0.06% to the overall turnover of the company. 

The value of MEVA’s sale was ₹33.66 Crore. MTISL sale was for about ₹4.53 Crore. MSDL’s transfer via a non-cash share exchange was valued at ₹1,218.16 Crore.

As per the company, these changes are part of an internal realignment and do not constitute any court-approved Scheme of Arrangement.

At around 11.03 AM, Mahindra & Mahindra was trading 0.53% lower at ₹3,198.40 per piece, against the previous close of ₹3,215.50 on NSE. The counter touched an intraday high and low of ₹3,238, and ₹3,194.40 respectively.

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