MAHINDRA LAST MILE MOBILITY LIMITED (MLMML) In the Last Mile Mobility business, Mahindra Last Mile Mobility Limited (MLMML) sold 1,08,661 vehicles (domestic plus exports) in FY25, as against 1,01,011 vehicles in FY24, registering a growth of 7.6%. Throughout the year, MLMML launched four new products: Treo Plus (Metal), Mahindra Zeo, eAlfa Plus, and Alfa Duo. Treo Plus (Metal) scaled up rapidly following its launch in April 2024, further strengthening MLMML’s position in the passenger electric 3W segment. Additionally, with the launch of Mahindra Zeo, MLMML has successfully entered the 4W electric SCV (Small Commercial Vehicle) segment, offering a superior customer value proposition. MLMML has achieved significant milestones this FY, including the cumulative sale of 2,00,000+ EVs and 1,00,000+ Treo vehicles to date. In FY25, MLMML sold 78,524 EVs (domestic plus exports) as against 66,190 EVs in the previous year, achieving a growth of 18.6%. With an unwavering focus on innovation and customer-centric solutions, MLMML is poised to continue growth of sustainable mobility in the 3W and 4W SCV segments. MLMML’s achievements have been recognized with numerous awards, including the Apollo CV Awards for EV of the Year for Mahindra Zeo, as well as the Manufacturing Today Awards for Cost Optimization, Quality, and HR Excellence. In 4W segment, the launch of Mahindra Zeo marked another important milestone in MLMML's journey to strengthen the electric 4W last mile mobility. The Mahindra Zeo aims to electrify the SCV segment with best-in-class performance, range and features. AUTOMOTIVE SECTOR - TRUCK & BUS DIVISION Despite challenging industry conditions (remaining flat over last 3 years), your Company demonstrated resilience, recording flat growth over the previous year with volumes reaching 13,032 units. While the industry witnessed a de-growth of 5%, your Company limited its de-growth to 1%, showcasing its ability to navigate headwinds effectively. A remarkable milestone was achieved as your Company attained cash breakeven and posted EBIDTA-positive results for FY25. The launch of the Furio 8 range of LCV trucks marked a significant breakthrough in our product portfolio. The Furio 8 was honored as the 'Debutant LCV of the Year' at the prestigious Apollo CV Awards 2025, reaffirming our position as a leader in innovation and product excellence. Looking ahead, your Company remains focused on driving continued growth through multiple strategic initiatives across product enhancements, elevating customer experience, and improving operational efficiencies. These efforts are aimed at further strengthening our market presence and delivering value to our stakeholders. MAHINDRA CONSTRUCTION EQUIPMENT (MCE) Your Company, under the Mahindra EarthMaster brand, sold 981 Backhoe Loaders (BHLs), and sold 256 Motor Graders, under the RoadMaster brand. Notably, your Company retained its position as the market leader (~23% Market Share) in the Motor Grader segment, a testament to its robust product offerings and strong customer trust. Moreover, your Company achieved an exceptional milestone in the export markets by recording a significant growth of 124% YoY. A total of 228 units of construction equipment were exported, reflecting the growing acceptance of Mahindra products in international markets and the success of strategic efforts to expand the global footprint. Integrated Annual Report 2024-25 | 144
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