Integrated Annual Report 2024-25 180 P. Senior Management Particulars of Senior Management Personnel (“SMP”) as on 31st March, 2025 and changes therein since the close of the previous financial year: Sr. No Name of the SMP of the Company Designation 1. Veejay R Nakra President, Automotive Division (Re-designated as “President Farm Equipment Business” with effect from 5th May, 2025) 2. R. Velusamy President, Automotive Technology and Product Development 3. Ruzbeh Irani President, Group HR 4. Vinod Sahay President, Aerospace & Defence and MTBD & CE (Re-designated with effect from 1st March, 2025) 5. K N Vaidyanathan EVP, Corporate Management Services & Group Chief Internal Auditor 6 Naveen Raju EVP, Group Legal 7 Mohit Kapoor EVP, Group Chief Technology Officer 8. Asha Kharga EVP, Group Customer & Brand 9. Puneet Renjhen EVP, Group Partnerships & Alliances 10. Abanti Sankaranarayanan EVP, Group Public Affairs Changes since the close of the previous financial year 11. Mr. Manoj Bhat* President & Group Chief Financial Officer (upto close of 16th May, 2024) 12. Mr. Amarjyoti Barua** President & Group Chief Financial Officer (with effect from 17th May, 2024) 13. Mr. Narayan Shankar# Company Secretary (upto close of 1st April, 2025) 14. Ms. Divya Mascarenhas## Interim Company Secretary (with effect from 2nd April, 2025) 15. Mr. Hemant Sikka@ President - Farm Equipment Sector (upto close of 4th May, 2025) * Ceased to be the Chief Financial Officer of the Company designated as “Group Chief Financial Officer” and Key Managerial Personnel of the Company and as such a SMP with effect from close of 16th May, 2024, on account of his transition to a new role within the Mahindra Group, as Managing Director and CEO of Mahindra Holidays & Resorts India Limited, with effect from 17th May, 2024. ** Appointed as the Chief Financial Officer, Key Managerial Personnel and SMP of the Company, designated as “President & Group CFO” with effect from 17th May, 2024. # Retired as Company Secretary of the Company with effect from close of 1st April, 2025, pursuant to his reaching the age of superannuation, and consequently ceased to be Compliance Officer under Listing Regulations, Key Managerial Personnel and SMP of the Company with effect from close of 1st April, 2025. ## Appointed as Company Secretary of the Company and Compliance Officer under Listing Regulations (in the Interim capacity) designated as “Interim Company Secretary” and Key Managerial Personnel and SMP of the Company with effect from 2nd April, 2025. @ Ceased to be SMP of the Company with effect from the close of 4th May, 2025 consequent to his resignation on account of his transition to a new role within the Mahindra Group, as the Managing Director and CEO of Mahindra Logistics Limited, a Listed Subsidiary of the Company. II. REMUNERATION TO DIRECTORS A. Remuneration Policy Your Company has a well-defined Policy for Remuneration of the Directors, Key Managerial Personnel and other Employees. This Policy is available on the website of the Company and can be accessed in the Governance section at the Web-link: https:// www.mahindra.com/investor-relations/policies-and-documents. The Board while deciding the basis for determining the compensation, both fixed and variable to the Non-Executive Directors, takes into consideration various factors such as Director’s participation in Board and Committee Meetings during the year, other responsibilities undertaken, such as Membership or Chairmanship of Committees, time spent in carrying out other duties, role and functions as envisaged in Schedule IV of the Act and Listing Regulations and such other factors as the GNRC deems fit. The elements of remuneration package of Executive Directors include salary, benefits, stock options, provident fund, etc. and is decided based on the individual performance as well as performance of the Company, inflation, prevailing industry trends and benchmarks. The Non-Executive Directors are paid remuneration in the form of Commission, and sitting fees for attending the Meetings of the Board of Directors or any Committee thereof, as approved by the Board of Directors. Based on the Shareholders’ approval, Mr. Anand G. Mahindra, as Non-Executive Chairman of the Company is entitled to Remuneration (by way of monthly payment) and Commission apart from sitting fees for attending the Meetings of the Board of Directors or any Committee thereof as approved by the Board of Directors for Non-Executive Directors of the Company and also Reimbursements and Benefits as per the Company’s Policy with effect from 12th November, 2021.
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