annual-report-FY2021

MAHINDRA & MAHINDRA LIMITED 22 Directorships and Committee positions: Mr. Mahindra is an Executive Chairman of Mahindra & Mahindra Limited, Chairman of Tech Mahindra Limited and Classic Legends Private Limited, and Director of Mahindra Holdings Limited, Prudential Management & Services Private Limited, The Mahindra United World College of India, Tech Mahindra Foundation, Araku Originals Private Limited, Naandi Community Water Services Private Limited, Breach Candy Hospital Trust and Invest India. Mr. Mahindra is a Chairman/Member of the following Board Committees: Name of the Company Name of the Committee Position held Mahindra & Mahindra Limited Strategic Investment Committee Chairman Loans & Investment Committee Chairman Sale of Assets Committee Chairman Corporate Social Responsibility Committee Member Stakeholders Relationship Committee Member Remuneration: The remuneration paid to Mr. Mahindra during the Financial Year 2020-21 is Rs. 885.91 lakhs. Attendance at Board Meetings: During the year 1 st April, 2020 to 31 st March, 2021, 7 Board Meetings of the Company were held, and Mr. Anand Mahindra had attended all Meetings. Pursuant to the applicable provisions of the Companies Act, 2013 (“the Act”) read with Schedule V of the Act and Listing Regulations, the payment of remuneration to Mr. Anand G. Mahindra is being placed before the Members at the Annual General Meeting for their approval by way of Special Resolution. Information as required under Schedule V to the Companies Act, 2013: The following additional information as required by Schedule V to the Companies Act, 2013 is given below: I. General Information: (i) Nature of Industry: T he Company is, inter alia, in the business of manufacture of different range of automotive vehicles, agricultural tractors, implements, industrial engines, etc. (ii) Date or expected date of commencement of commercial production: T he Company was incorporated on 2 nd October, 1945 and started assembly of jeep type vehicles in the year 1949. (iii) In case of new companies, expected date of commencement of activities as per project approved by nancial institutions appearing in the prospectus: Not Applicable. (iv) F inancial performance based on given indicators – as per audited nancial results for the year ended 31 st March, 2021: Particulars Rs. in crores Gross Turnover & Other Income 46,262.29 Net pro t as per Statement of Pro t & Loss (After Tax) 268.66 Computation of Net Pro t in accordance with section 198 of the Companies Act, 2013 4,935.98 Net Worth 34,501.92 (v) Foreign investments or collaborators, if any: Not Applicable. II. Information about the appointee: (i) Background details: Refer pro le Section as stated above (ii) Past remuneration during the nancial year ended 31 st March, 2021: Rs. 885.91 lakhs which includes the value of perquisites of Rs. 3.39 lakhs (iii) Recognition or awards: Refer pro le Section stated above (iv) Job Pro le and his suitability: M r. Anand G. Mahindra (DIN: 00004695) will transition to the role of Non-Executive Chairman of the Company with effect from 12 th November, 2021. M r. Anand G. Mahindra was first inducted on the Board of the Company on 23 rd November, 1989. He took over as Managing Director of the Company in April, 1997. In August, 2012, he was appointed as Chairman and designated as Chairman & Managing Director of Mahindra & Mahindra Limited. In November, 2016, Mr. Mahindra was re- designated as Executive Chairman of Mahindra & Mahindra Limited. Taking into consideration his qualification and expertise, Mr. Anand G. Mahindra is best suited for the responsibility as a Non-Executive Chairman. A s Non-Executive Chairman, Mr. Anand Mahindra will serve as mentor and sounding board for the Managing Director and Senior Management especially in the areas of strategic planning, risk mitigation and external interface. He will continue to play an important role in epitomising and building Brand Mahindra. He will be available to provide feedback and counsel to the Managing Director and Senior Management on key issues facing the Company. (v) Remuneration proposed: T he remuneration proposed to be paid to Mr. Anand G. Mahindra as a Non-Executive Chairman with effect from 12 th November, 2021 for a period of 5 (Five) years is given below: 1) T otal Remuneration of Rs. 5,00,00,000 per annum split as under: (a) R emuneration of Rs. 2,50,00,000 per annum by way of monthly payment and (b) C ommission of Rs. 2,50,00,000 per annum.