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

MESSAGE FROM THE LEADERS MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2021-22 01 Lead ESG Globally Be Future-Ready Outperform Financially FUTURise There is a famous quote by Nobel Prize winner, Dennis Gabor, which says “The future cannot be predicted, but futures can be invented.” As the world stands on the cusp of recovery post the pandemic, multiple headwinds have emerged, pushing the global economy back towards a state of crisis. Slow growth, rising inflation and geopolitical uncer- tainties have left all major economies reeling under this shock. In this context, it is imperative for businesses to assert a point of view on how to best respond and shape the future. At Mahindra, we believe our core purpose of ‘Rise’ is our North Star… driving positive change in the lives of our communities to enable them to Rise. Our purpose is what makes us come to work every day. We have deep conviction that there are no trade-offs between purpose and business outcomes. We will achieve social change and our business will outperform financially. And we will do this by maintaining the highest standards of governance and making our businesses future-ready with technology leadership. The theme of this Integrated Annual Report, FUTURise , embodies the three critical pillars to achieve the scale of our ambition and to thrive in this fast- changing world: Lead ESG, Outperform Financially and Be Future-Ready. When it comes to leading ESG, there are multiple actions that we have already undertaken on this journey. First is to become Planet Positive . We will do this by greening ourselves, decarbonising the industry and rejuvenating nature. Second, becoming People Positive , by living our Rise philosophy with our associates, communities and customers. Lastly, by being Trust Positive through our commitment to our shareholders, partners, and our investors. Our path to value creation for all stakeholders will be realised when we outperform financially. For this, we need to have a clear path to ROE . We must maintain fiscal discipline and cost control, accelerate growth in our core businesses, and focus on value creation by scaling our growth gems, seeding digital platforms and through partnerships. We want to build a future-ready enterprise and technology will play the role of a key enabler. Digitisation will help us elevate customer experience , and new technologies will fuel businesses of the future including our ambitious Born Electric Vehicles. In this report, we celebrate a journey of continued resilience in the year gone by, coupled with optimism for a better future. Alone, we can do so little, together we can do so much. We believe that partnerships and collaborations with our associates, partners and customers are the bedrock for a sustainable business. It is only when we enable others to rise, will we Rise . The future is bright. FUTURise . Dear Shareholder, Anand G. Mahindra Chairman Dr. Anish Shah MD & CEO Anand G. Mahindra Chairman Dr. Anish Shah MD & CEO