MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 Warm regards, Dr. Anish Shah Managing Director and CEO We are grateful for our shareholders' trust in our journey, a crucial part of our 'infinity loop' of growth. Looking ahead, the horizon holds promising opportunities. The Group is currently engaged in 7 out of 10 high-potential sectors that are propelling India's economic growth. We are excited about shaping the electric SUV category with sustainable and sophisticated products that are designed to delight customers. Our Farm business is positioned well for international growth. Both Mahindra Finance and Tech Mahindra will unlock their full potential. And, our growth gems are targeting an additional 5x growth over the next 5-7 years. We recognise that private capital investment plays a crucial role in maximising the opportunities in India. By outlining a capex plan of INR 37,000 Crores for the next three years, we remain committed to our proven strategy of prudent capital allocation. The Group draws confidence from the cash generation across our businesses, our low debt levels, and a robust balance sheet. Simultaneously, we are committed to investing in 'Tech and Talent,' … these are essential for innovation and nurturing a talented workforce, positioning us as an employer of choice. We remain steadfast in our commitment to our North Star, 'RISE'. Our credo of driving positive change in our communities ensures that sustainability is integral to our business operations, steering us towards a planetpositive future. We have achieved substantial progress to make our operations greener across energy, water, and waste. M&M's share of renewable energy increased to 33% in F24. We have doubled the energy efficiency of our operations since F09, and now use half the energy to manufacture each vehicle. M&M maintained its water positivity status and now has over 85% 'zero waste to landfill' locations. Our tree plantation program, Hariyali, has enriched the landscape with nearly 25 million trees to date. Recognising the immense potential of women in India, we have taken significant steps towards inclusivity and empowerment. A significant step that has set a new industry benchmark is the introduction of a visionary 5 year maternity policy aimed at creating a more equitable and supportive work environment for women. Furthermore, since inception through Nanhi Kali, we have educated around 7,00,000 young girls from disadvantaged homes and skilled around 7,70,000 women to enable them to become job ready through our women's empowerment program. Our actions are governed by robust corporate governance standards that uphold integrity in all facets of our operations, ensuring transparency and accountability. We are grateful for our shareholders' trust in our journey, a crucial part of our 'infinity loop' of growth. We recently surpassed the INR 3 trillion M-Cap level on the bourses. M&M shares soared by over 66% outpacing the nearly 25% appreciation seen in broader market indices. Your belief in our vision and active contribution to our progress are key in this continuous cycle of success. Together, we can unlock infinite possibilities, each one a precious gem waiting to be discovered.
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