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

72 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS During the year under review, your Company spent Rs. 97,07,68,887 on CSR activities. The amount equal to 2% of the average net pro t for the past three nancial years required to be spent on CSR activities was Rs. 96,84,63,072. The Board has considered the Impact Assessment Reports at its meeting held on 28 th May, 2022. The detailed Annual Report on the CSR activities undertaken by your Company in the Financial Year 2022 along with the Executive Summary for Impact Assessment Reports of the applicable projects, is annexed herewith and marked as Annexure VI. The complete Impact Assessment Reports of the applicable projects can be accessed at the Web-link: https://www.mahindra.com/resources/FY22/AnnualReport.zip Sustainability During the year under review, the 14 th Sustainability Report for the year 2020-21 was released. The Report was externally assured by KPMG and prepared in accordance with the GRI Standards-Core option. By implementing Mahindra Sustainability Framework, your Company continued the focus on the Environmental, Social and Governance (ESG) parameters ensuring a common language for sustainability across the Group. This framework defines sustainability as “Building enduring business by rejuvenating the environment and enabling stakeholders to rise”. Under the three pillars People, Planet and Profit of Sustainability Framework; various actions have been implemented across the Group. The ESG information is disclosed under Dow Jones Sustainability Index (DJSI) and Carbon Disclosure Project (CDP). In DJSI, your Company has achieved position in both World and Emerging Market Index. In CDP Climate and CDP Water, your Company has achieved level A. Your Company has committed to Science Based Target, an initiative to restrict average global temperature rise in alignment of Paris Climate Change Agreement. The Group is committed to become Carbon Neutral by 2040. Dr. Anish Shah, Managing Director & CEO of your Company participated in the First Movers Coalition dialogue with US Special Presidential Envoy on Climate organised by World Economic Forum. He also attended CEO climate leaders meeting organized by World Economic Forum on building the net-zero economy and carbon removals. The Sustainability performance for your Company for the Financial Year 2021-22 will be elaborated in detail in the GRI Report which is under preparation and will be ready for release shortly. Your Company was recognized for its leadership position on the ESG dimensions during the year under review, by way of the following: • Part of DJSI yearbook 2022. Top 15 percentile of an industry gets featured in the yearbook. • Inclusion in CDP Supplier Engagement Leader Board 2021. • Part of Power list of top 50 India’s Most Sustainable Companies 2021-22, by Business World. Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo The information pertaining to conservation of energy, technology absorption, foreign exchange earnings and outgo as required under section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is attached as Annexure VII and forms part of this Report. N. SECRETARIAL Share Capital During the year under review, the Authorised Share Capital of the Company was increased from Rs. 4,075 crores divided into 810,00,00,000 Ordinary (Equity) Shares of Rs. 5 each and 25,00,000 Unclassified shares of Rs. 100 each to Rs. 10,575 crores divided into 1810,00,00,000 Ordinary (Equity) Shares of Rs. 5 each and 25,00,000 Unclassified shares of Rs. 100 each and 150,00,00,000 Preference Shares of Rs. 10 each pursuant to the Scheme of Merger by Absorption of Mahindra Vehicle Manufacturers Limited with the Company becoming effective from 1 st July, 2021. The Authorised Share Capital of the Company further stands increased to Rs. 11,681.5 crores divided into 2031,30,00,000 Ordinary (Equity) Shares of Rs. 5 each and 25,00,000 Unclassified shares of Rs. 100 each and 150,00,00,000 Preference Shares of Rs. 10 each pursuant to the Scheme of Merger by Absorption of Mahindra Engineering and Chemical Products Limited, Retail Initiative Holdings Limited and Mahindra Retail Limited with the Company becoming effective from 29 th April, 2022.