MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 26 Key Highlights Significant Portfolio Manages an IPP portfolio exceeding 1.5 GWp, with an annual generation capacity of over 2.6 billion units. Strategic Partnerships Enhanced financial robustness and strategic advisory by onboarding Ontario Teachers' Pension Plan (OTPP) as a strategic investor with a 39.99% stake. Achievements in F24 New Order Wins Secured new orders totalling approximately 2 GWp, which significantly contributes to the planned growth and expansion targets. Record InvIT Listing Achieved the largest InvIT listing in India, marking a significant milestone in the financial landscape. MAHINDRA ACCELO Mahindra Accelo Ltd. is a leading player in the manufacturing of automotive components, EV components, and automotive recycling. In the energy sector, it is a key supplier of power components, electrical stampings, and purlins. Accelo utilises advanced technology to provide high-end Body-in-White (BiW) components using blanking lines and India's first high-speed progressive stampings. Products are supplied to major automotive OEMs from four locations across India. Accelo has been preparing for the upcoming EV penetration in India. It has established capability to provide critical components to the EV industry in India and globally with world class presses which have some of the highest level of automation seen in the global component industry. With strategic advancements in automation and sustainability practices, Accelo is set to enhance operational efficiencies and expand its service offerings, aligning with the Group's goals of sustainability and innovation. Accelo also operates CERO, India's first and largest Governmentauthorised recycler of motor vehicles, promoting zero tolerance towards pollution and unsafe practices in vehicle recycling. Strategic Imperatives Aim to become the largest supplier of auto components in India by enhancing manufacturing capabilities and leveraging technological advancements. Additionally, become the largest player in organised vehicle recycling by F28. Key Highlights Industry Leadership Recognised as a leading mobility and energy components company and a market leader in high-end transformer components. Pioneering Recycling Established as India's largest vehicle recycling company, CERO operates with 32 collection centers and 9 Registered Vehicle Scrapping Facilities across 41 cities in India. Achievements in F24 Ÿ Achieved highest ever revenue of approximately INR 4,600 Crores in F24 through volume growth and addition of new customers. Ÿ Successfully augmented capabilities with EV component lines now fully operational.
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