MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 18 RISE TO CREATE VALUE GROUP STRATEGIC OVERVIEW As one of India's most trusted brands over past 80 years, the Mahindra Group has consistently outperformed expectations, earning its place as the best-performing stock in India's NIFTY 50 Index over the last 20 years. In the last four years alone, market capitalisation across the group companies has increased sevenfold, driven by a sharp focus on both fiscal discipline and strong growth. We maintain our steadfast commitment to delivering 15%-20% EPS growth and ROE. 18% st 1 in last 21 years Company TSR% Ranking Mahindra & Mahindra Limited Sun Pharmaceutical Industries Limited Bajaj Holdings & Investment Limited Britannia Industries Limited ABB India Limited 29% 27% 26% 26% 26% 1 2 3 4 5 Note: Govt. undertakings have been excluded from the ranking. Base year is 31 March, 2003, same as considered for last year rankings.
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