Meanwhile, the company’s wholly owned subsidiary, Mahindra Overseas Investment Company (MOIC), Mauritius along with its wholly owned subsidiary, Erkunt Traktör Sanayii Anonim Şirketi (Erkunt Traktor) has entered into stock purchase agreement to divest their 99.04% stake in Erkunt Sanayi Anonim Şirketi (Erkunt Foundry). The stake will be sold to Hisarlar Makina Sanayi ve Ticaret A.Ş., Oguzhan Sahinkaya and Bunyamin Sarioglu.
The total consideration to be received by the MOICML and Erkunt Traktor is Turkish Lira 1,00,000 (around Rs 2,13,000 at the prevailing foreign exchange rate), post infusion of Turkish Lira 1.2 billion by MOICML (approximately Rs 256 crore at the prevailing foreign exchange rate, for extinguishing external debt and funding the business until closing of the transaction).
Mahindra & Mahindra (M&M) Group enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The company’s consolidated net profit jumped 47% to Rs 4674.64 crore on 24.4% increase in net sales to Rs 51579.95 crore in Q3 FY26 over Q3 FY25.
The counter fell 1.89% to Rs 3,200 on the BSE.
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