HEALTH AND SAFETY We uphold rigorous safety standards and continuously refine processes in line with technological advancements and industry best practices. The Employee Health Index serves as an individualized monitoring tool, helping to identify employees who may require focused counselling and support. Expert-led awareness sessions on lifestyle improvement, mental and emotional well-being, nutrition, and mindfulness are regularly conducted for employees and their families, reinforcing Mahindra’s commitment to holistic wellness. MAHINDRA SKILL EXCELLENCE Designed to focus on holistic development of shop floor associates, this program prepares employees to meet evolving industry demands. In FY25 alone, 2,758 associates across manufacturing units participated, underscoring the program’s role in driving workforce capability and excellence. Through these efforts, Mahindra continues to cultivate a workplace that balances innovation, inclusivity, and well-being, ensuring employees are equipped to thrive in a dynamic environment. The Company had a total of 25,222 Permanent employees on its rolls as on 31st March, 2025. INTERNAL CONTROL SYSTEMS Your Company maintains adequate internal control systems commensurate with the nature of its business and size and complexity of its operations. These are regularly tested for their effectiveness by Statutory as well as Management Auditors. Your Company's Internal Financial Controls are deployed through the Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organisations of the Treadway Commission (COSO), that addresses material risks in your Company's operations and Financial reporting objectives. The framework is a combination of entity-level controls (including Enterprise Risk Management, Legal Compliance Framework, Internal Audit and Anti-Fraud Mechanisms such as Ethics Framework, Code of Conduct, Whistle-Blower Policy, etc.), process level controls, information technology-based controls, period end financial reporting and closing controls. Further, the Internal Control Systems have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information. In the highly networked IT environment of the Company, validation of IT Security receives focussed attention from IT specialists and Statutory Auditors. The Chief Internal Auditor reports administratively to the Chairman of the Board and functionally to the Audit Committee. The Internal Audit function develops an audit plan for the Company, which covers, inter alia, corporate, core business operations, as well as support functions. The Audit Committee reviews the annual internal audit plan. Significant audit observations are presented to the Audit Committee, together with the status of the management actions and the progress of the implementation of the recommendations. The Audit Committee reviews the adequacy and effectiveness of the Company's internal control environment and monitors the implementation of audit recommendations. During the year, the Company has taken steps to review and document the adequacy and operating effectiveness of internal controls. Nonetheless, your Company recognises that any internal control framework, no matter how well designed, has inherent limitations and accordingly, regular audits and review processes ensure that such systems are reinforced on an ongoing basis. Your Company's Management has carried out the evaluation of design and operative effectiveness of these controls and noted no significant deficiencies/material weaknesses that might impact financial statements as at the Balance Sheet date. Integrated Annual Report 2024-25 | 156
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