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

COMPANY OVERVIEW RISE TO CREATE VALUE RISE TO BE FUTURE READY RISE FOR A MORE EQUAL WORLD CORPORATE INFORMATION STATUTORY REPORTS FINANCIAL STATEMENTS RISE TO CREATE VALUE At Mahindra, we constantly push the boundaries of possibilities to create products and technology-led services that enable our customers and stakeholders to Rise. By refreshing our strategy, focussing on customer centricity, delivering accessible technology, innovation and enhancing people capabilities, we continue to drive growth, expand reach and create value. Historically, we have been a leader in value creation for our shareholders. M&M has been the best performing stock in Nifty 50 since 2002, with Total Shareholder Returns of 27%, over the last 20 years. Our action on Capital Allocation and pivot to growth has resulted in spectacular TSR of 57% in the last year, second amongst all Nifty 50 companies. STRATEGIC OVERVIEW Regained #1 position in value creation M&M is best-performing stock in Ni y50 since 2002 1 in last 20 years Company TSR% Ranking Mahindra 27% 1 Britannia 27% 2 Dabur India 26% 3 Bajaj Holdings 26% 4 HCL Tech 25% 5 Sun Pharma 25% 6 NIIT Ltd. 25% 7 HDFC Bank 24% 8 L&T 24% 9 Tata Chemicals 24% 10 2ⁿ in last 1 year Company TSR% Ranking ITC 68% 1 Mahindra 57% 2 Coal India 41% 3 NTPC 34% 4 Britannia 32% 5 Eicher Motors 21% 6 IndusInd Bank 18% 7 L&T 17% 8 ICICI Bank 16% 9 HUL 15% 10 Nifty50 companies considered at the point in time (20, 5, and 1 year back as on 31 March of the corresponding years) Note: TSR stands for Total Shareholder Returns, calculated as capital gains (increase in stock price) + dividends adjusted for stock splits, bonus issues, etc. TSR returns taken as avg. of monthly closing of Jan, Feb and March for the corresponding years. M&M has been the best performing stock in Nifty 50 since 2002, with Total Shareholder Returns of 27%. 13