MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2023-24

MESSAGE FROM THE LEADERS	4
COMPANY OVERVIEW	12
The Mahindra Group	12
Mahindra & Mahindra Ltd.	13
Group Snapshot	14
20+ Industries	15
Awards & Accolades	16
The Board of Directors	19
Group Executive Board	20
Global Footprint	22
Manufacturing Plants in India	24
Manufacturing Capabilities	25
RISE TO CREATE VALUE	29
Group Strategic Overview	29
Risks & Opportunities	44
Opportunities & Outlook	45
INPUT-OUTPUT MODEL	46
RISE TO BE FUTURE READY	48
Digital Capabilities	48
Product Launches	54
RISE FOR A MORE EQUAL WORLD	62
ESG Leadership	62
Environment	64
People	75
Social	84
CORPORATE INFORMATION	92
STATUTORY REPORTS	93
Board's Report	94
Management Discussion and Analysis	156
Corporate Governance	181
Business Responsibility Report	239
FINANCIAL STATEMENTS	291
Standalone Accounts	294
Consolidated Accounts	370
Notice	480

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