Mahindra Ranks 3rd Among Top 100 Emerging Market MNCs on Business Transparency
Mumbai, July 19, 2016: Mahindra & Mahindra Ltd has ranked third on business transparency among the top 100 fastest-growing companies based in 15 emerging market countries, and operating in 185 countries around the world, according to a recent report by Transparency International.
The report assessed the public disclosure practices of these multi nationals on key elements including anti-corruption programmes, company structures & holdings, and key financial information disclosed for each country.
M&M consistently ranked in the top percentile on all three parameters, with a transparency index score of 6.7, against the average of 3.4 for all companies. This strong performance demonstrates Mahindra’s commitment toward high corporate governance and disclosure standards.
The ranking also reinforces Mahindra’s commitment toward its core values which include transparency and speak to the efforts made by the company in enhancing the level of public disclosure of its key financial and qualitative information.
Transparency International is an independent, and respected not -for -profit global organisation based in Berlin, Germany. It is dedicated to work toward a corruption free society, publishing reports and studies to enhance awareness about transparency and create concerted action to achieve this goal.
This is the third recognition for Mahindra in succession - earlier in separate polls of Finance Asia and Institutional Investor, two respected financial magazines, M&M had been ranked among the top 2 companies in Investor Relations practices, implying that the perception of global investors converges with that of the studies of independent organisations.
Commenting on the Transparency International report, Mr. V S Parthasarathy, Group CFO, Mahindra Group said, "These findings which place us right at the top when it comes to transparency, are a tribute to the management and employees who together have weaved the strong fabric of corporate governance into Mahindra. The Finance Asia and Institutional Investor poll results and this latest recognition from Transparency International show that Mahindra has a strong commitment toward high disclosure standards.”
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles,information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheelerindustries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times.In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets category in 2013.
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