MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

99 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS ● Organizing annual Sustainability summit for employees. ● Capability building programs on Energy and Sustainability for employees and Supplier partners. 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 79.93 MWp Solar power and 14.7 MW Wind power contributing to 32% of total power consumption which mitigates 94,273 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. 12.09 crores. Th ese 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. The Automotive Sector is committed to expand its vision on multiple emerging technologies, including electric vehicles, autonomous vehicles, battery technologies, motors for electric vehicles, active safety systems, advanced electronics, technologies for light-weighting, enhanced vehicle dynamics and connected vehicles. In Farm Equipment Sector, technology areas such as best in class mileage, in-house cabin design, emission reduction technologies, compact modular agriculture machines, reduced vibration, high precision hydraulics, smart combine harvesters, smart connected implements, transmission efficiency improvement, automated applications to reduce human efforts, light weight tractors, CNG powered tractor, and Electric tractor 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 as well as protection through patents. For the year under review, your Company filed a total of 170 patent applications. Cumulatively, your Company has filed 2,019 patent applications so far. The Company’s total granted patent portfolio stands at 511 across multiple geographies and has significantly grown over last few years. This includes the portfolio of Mahindra Electric Mobility Limited since it has merged with the Company. 0 100 200 300 400 500 600 Upto F18 F22 F23 F21 F20 F19 85 99 152 232 511 Number of Patents Granted - Cumula ve Fiscal Years Number of Granted Patents 329 Technical Capability Building: Your Company has been continuously investing in reskilling its 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, Design Thinking, etc., and are encouraged to leverage the power of these technologies in new product development.