MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

98 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS • Organizing various competitions to engage employees like ECO warrior, posters, slogans, suggestions and quiz. • Sustainability awareness for family members of Employees. • Enhance learning through digital platforms like E learning, Webinars. • Awareness creation through e-mailers, wall papers, etc. (ii) The steps taken by the Company for utilising alternate sources of energy F or the year under review, your Company has sourced 18.8 MWp Solar power and 11.3 MW Wind power contributing to 12.3% of total power consumption which mitigates 32,686 tons of CO2. Y our Company has set a target to increase the share of renewable energy to around 50% by Financial Year 2025. (iii) The capital investment on energy conservation equipments F or the year under review, your Company implemented various projects towards Energy Conservation, to the tune of Rs. 29.30 crores. (Rs. 7.10 crores as Capex/Revex, Rs. 16 crores through the Group captive route and Rs. 6.20 crores through the OPEX route). These projects include Energy efficient motors, EC blower, BLDC air circulators, compressor heat recovery, energy efficient pumps, VFD’s and many more energy conservation initiatives. (B) Technology Absorption (i) The efforts made towards technology absorption: Y our Company is committed towards technology driven innovation and inculcating an innovation driven culture within the organisation. D uring the year under review, your Company continued to work on advanced technologies, upgradation of existing technology and capability development in the critical areas for current and future growth. I n Automotive Sector, the Team has been introduced to focus specifically on technology development and its related processes. The Sector is committed to expand its vision on advance technology, focussing on customer experience and customer safety but not limited to green vehicle active safety systems, advanced driver assistance systems, advanced automotive electronics, light weighting technologies, enhanced vehicle dynamics and connected vehicle technologies. In Farm Equipment Sector, technology areas such as best in class mileage with high max torque 3-cylinder engine, high precision hydraulics, smart combine harvesters, smart connected implements, hill farming and new electronic architecture were given special emphasis. This would help in making the Company’s products retain their competitive edge in the market in the coming years. Y our Company continues to invest in technology development and patent acquisitions. For the year under review, your Company filed a total of 149 patent applications. Cumulatively, your Company has filed 1,740 patent applications so far. The Company’s total patent granted portfolio stands at 297 across multiple geographies and has significantly grown over last few years. 0 50 100 150 200 250 300 Upto F18 F22 F21 F20 F19 62 75 125 202 297 Number of Patents Granted - Cumula ve Fiscal Years Number of Granted Patents Technical Capability Building: Your Company has been continuously reskilling engineers in emerging technology areas of electric, connected, autonomous vehicle technologies, smart agricultural implements, precision farming, etc. The product design engineers are also trained in technologies like data science, AI, IoT, Mechatronics etc., and are encouraged to leverage the power of these technologies in the new products.