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 ESTABLISHING THE GROWTH GEMS þ Robust launch pipeline with 9 launches; 4,000+ Crs GDV acquired þ Customer & inventory adds, curated customer experience þ Integrated logistics play with multiple acquisitions Progress made so far Valuation¹ ($Min) FY20 FY23 Revenue ($ Mn) Unlock Emerging Growth Gems þ 67% market share in 3W EV; IFC investment þ OTPP investment to accelerate scale-up Growth Mindset þ Pivot to decarbonising of Mobility and Energy þ Retail scale-up across multiple formats þ New launches, distribution scale up and exports Emerging <100 734 +630 Mn <200 290 +90 Mn 120 670 +550 Mn 230 660 +430 Mn 200 320 +120 Mn 182 514 +332 Mn 50 141 +91 Mn 56 84 +28 Mn 1. Closing value as of 31 March for corresponding years; 2. F20 Valuation based on rough estimate of Jeeto and 3 Wheelers ICE portfolio; 3. Investment by a wholly owned subsidiary of Ontario Teachers’ Pension Plan Board “OTPP” Note: For FY20: $1 = INR 74.1; For FY23: $1 = INR 81.7 On track to achieve target Through our commitment to Reigniting Value Creation, we successfully steered the Group to reach an ROE of 19.9% in F23. The PAT at consolidated level has seen a signif icant growth as can be seen from the following chart. 66 4,667 FY02 FY14 FY21 +43% -5% FY23 +75% 10,282 3,347 ^ * After Exceptional Items after Non-Controlling Interest | ^ PAT after EI for continuing operations PAT* FY2002-2023 ( J Cr) PAT LENS - HISTORY OF VALUE CREATION WITH ACCELERATING TRAJECTORY For more information about our commitment to Reigniting Value Creation, please refer to our Analyst presentation: https://www.mahindra.com/sites/default/files/2023-05/M-M-Analyst-Meet-2023-Presentations-deck-26 -May-2023.pdf 15