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

78 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 material circularity and ensuring no waste goes to landfill. To decarbonize the industry, transition to electric vehicles and alternate fuels, enabling supply chain to follow environment friendly practices and end of vehicle recycling are major considered aspects. Beyond the industry boundary, to rejuvenate nature, the Company aims regenerative farming, planting over million trees every year, investing in green technologies like solar, green buildings and micro irrigation. ESG information of the Company has been disclosed under Dow Jones Sustainability Index (DJSI), Carbon Disclosure Project (CDP) and World Economic Forum’s (WEF) stakeholder capitalism metrics. Your Company has committed to Science Based Target, an initiative to restrict average global temperature rise in alignment of Paris Climate Change Agreement. The Mahindra Group is committed to become Carbon Neutral by 2040. Senior leadership of the Company participated in various engagement programs like SEBI Advisory Committee on BRSR, Circular Economy Symposium by FICCI and WEF CEO Climate Alliance. The Sustainability performance for your Company for the Financial Year 2022-23 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: ● Only Automobile Company globally disclosing Core & Expanded metrics as per WEF’s Stakeholder Capitalism Metrics during the year 2022. ● Part of Dow Jones Sustainability World & Emerging Market Indices, for the 2 nd consecutive year thereby being the only Indian automobile company to do so. ● Felicitated by CDP as Supplier Engagement Leader for the year 2022. ● Inclusion in S&P Global Sustainability Yearbook 2023. 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 stood 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. The Authorised Share Capital of the Company further stands increased to Rs. 12,681.5 crores divided into 2231,30,00,000 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 Electric Mobility Limited (“MEML”) with the Company and their respective shareholders (“MEML Scheme”) becoming effective on 2 nd February, 2023. The issued, subscribed and paid-up Share Capital of the Company was increased from Rs. 621.60 crores comprising of 124,31,92,544 Ordinary (Equity) Shares of Rs. 5 each fully paid-up to Rs. 621.76 crores divided into 124,35,28,831 Ordinary (Equity) shares of Rs. 5 each upon allotment of 3,36,287 Ordinary (Equity) shares of Rs. 5 each to the shareholders of MEML on 23 rd February, 2023 pursuant to the MEML Scheme. Compliance with the provisions of Secretarial Standard 1 and Secretarial Standard 2 The applicable Secretarial Standards, i.e. SS-1 and SS‑2, relating to ‘Meetings of the Board of Directors’ and ‘General Meetings’ respectively, have been duly complied by your Company. Annual Return Pursuant to section 134(3)(a) and section 92(3) of the Companies Act, 2013 read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, a copy of the Annual Return is placed on the website of the Company and can be accessed at https://www.mahindra.com/resources/FY23/ AnnualReport.zip .