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Minority interest
The part of a group's subsidiaries owned by outside shareholders, at its book value on the year-end balance sheet. The group's profit and EBITDA count those subsidiaries in full, so EV adds this share to stay comparable.
Example
A group owns 60% of a subsidiary whose book value is ₹500 crore: the outside 40%, ₹200 crore, is added to EV.
Worth knowing
A negative figure (the subsidiaries' accumulated losses) adds nothing.