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

Industrial Relations The year under review witnessed a very positive Industrial Relations scenario across all manufacturing locations for the Automotive and Farm Equipment Sectors. The Company amicably concluded LTS for 8 plants, which were due with an increase in productivity ranging between 8.25-11.1%, while the wage increase is given keeping the regional parity and industry benchmark. These LTS will remain valid for 3.5 years fromdate of signoff. The Company's focus continues towards propagating proactive and employee centric practices. Bonus settlements were amicably agreed upon at all locations. A Healthy Work Environment Signicant emphasis was laid on improving health and wellness of employees through annual medical check-ups, screening camps, health promotional activities and awareness. Balanced nutritious food has become a way of life at Mahindra over the past few years. The Company maintains an 'Employee Health Index' at an individual level and this has been a useful tool in identifying employees who require focussed counselling and monitoring. The 'Wellness App' is available to employees for quick access to critical health related information. During the unprecedented COVID-19 pandemic, the organization has reacted promptly to the health concerns of employees. Our employees' health has always been the Company's priority. The sustained e orts towards building a transformational work culture resulted in zero production loss in the last financial year and helped create a collaborative, healthy and productive work environment. Open Door Policy Proactive and employee-centric shop oor practices, a focus on transparent communication of business goals, an effective concern resolution mechanism, and a rm belief that employees are the most valuable assets, are the cornerstones of the Company's employee relations approach. An 'open door policy' with constant dialogue to create win-win situations, have helped build trust and harmony. Mahindra Skill Excellence The Mahindra Skill Excellence is an internal platform that aims at holistic skill enhancement programme for the shop oor associates. Over the years it has matured and in the current year 2,800 associates have participated from across all its manufacturing units. In continuation of the earlier achievements, this year also, one of our employees has been adjudged with a silver medal at the National Skill Competition and a couple of employees of our Dealerships based in Nagpur and Wayanad have also receivedmedals in the same skill. The Company had a total of 21,297 permanent employees st on its rolls as on 31 March, 2022. Various awareness sessions on driving employees towards a healthy and better lifestyle, Post Covid care, emotional wellbeing, Mindfulness, etc. were touched upon by experts during the exclusive sessions for employees and their family members. Health and Wellness always remained priority of the Company's philosophy. INTERNAL CONTROL SYSTEMS Your Company maintains adequate internal control systems commensurate with the nature of its business and size and complexity of its operations. These are regularly tested for their effectiveness by Statutory as well as Internal Auditors. Your Company's Internal Financial Controls are deployed through the Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organisations of the Treadway Commission (COSO), that addresses material risks in your Company's operations and Financial reporting objectives. COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 132