MD & CEO’S MESSAGE Dear Shareholders, Former President Dr. APJ Abdul Kalam, affectionately referred to as the Missile Man of India, left an enduring legacy on the world with his profound wisdom. His memorable quote, "If you want to shine like a sun, first burn like a sun," encapsulates the essence of perseverance. Just as the sun persists through clouded skies, India has stood resilient amidst tumult, global conflicts, and economic adversities. Mirroring the sun's resilience, India has achieved an impressive growth rate of over 8% in the past fiscal year. Much like India's achievements, at the Mahindra Group, we have consistently pursued innovation to unlock new opportunities, represented by the “infinity loop” on the cover of our annual report. In F24, the Group achieved its highest-ever profit with our businesses firing on all cylinders. Reflecting on F24, the automotive business sustained its growth trajectory and retained its position as the #1 SUV player by revenue. Our Farm business showed resilience in a year marked by a monsoon shortfall, gaining 40bps market share in a declining industry. Mahindra Finance made significant progress in its turnaround plan, reducing delinquencies to under 4%, increasing assets by 24% to over INR 1,00,000 Crores and revamping processes leveraging technology and data. The turnaround at Tech Mahindra has commenced, with a sharp focus on growth and margins. Our Growth Gems have enhanced valuation by 4x over the past 4 years to $4.2 billion.
RkJQdWJsaXNoZXIy NTE5NzY=