MAHINDRA & MAHINDRA LTD. Business Responsibility and Sustainability Report 261 To, The Board of Directors, Mahindra & Mahindra Limited Mumbai, India Mahindra & Mahindra Limited (Corporate Identity Number L65990MH1945PLC004558, hereafter referred to as M&M Ltd or ‘the Company’) has commissioned DNV Business Assurance India Private Limited (‘DNV’, ‘us’ or ‘we’) to undertake an independent assurance of the Company’s disclosures in its Business Responsibility and Sustainability Report (hereafter referred to as ‘BRSR’) for the period 2024-25. The disclosures include the BRSR Core attributes as per Annexure 17A of Master Circular No. SEBI/ HO/CFD/PoD2/CIR/P/0155, dated November 11, 2024. Scope of Work and Boundary The scope of our engagement includes a reasonable level of assurance of the ‘9 BRSR Core Attributes’ for the Financial Year (FY) 2024-25. Boundary for the assessment covers the performance of M&M Ltd’s operations in India that fall under the direct operational control of the Company’s Legal structure. Based on the agreed scope with the Company, the boundary of reasonable assurance covers the operations of M&M Ltd across all locations in India for BRSR core attributes 5-9. For BRSR core attributes 1-4, the boundary is 22 manufacturing plants located India, corporate office & area office. Reporting Criteria and Standards The disclosures have been prepared by M&M Ltd in reference to: • Industry Standard on Reporting of BRSR Core, Circular No.: SEBI/HO/CFD/CFD-PoD-1/P/CIR/2024/177 dated Dec 20, 2024. • BRSR Core (Annexure 17A) and BRSR reporting guidelines (Annexure 16) as per Master Circular No. SEBI/HO/CFD/PoD2/ CIR/P/0155, dated November 11, 2024 and, • The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard. Assurance Methodology/Standard and Level of Assurance This assurance engagement has been carried out in accordance with DNV’s VeriSustainTM protocol, V6.0, which is based on our professional experience and international assurance practice, and the international standard in Assurance Engagements, ISAE 3000 (revised) - Assurance Engagements other than Audits or Reviews of Historical Financial Information. DNV’s VeriSustainTM Protocol, V6.0 has been developed in accordance with the most widely accepted reporting and assurance standards. Responsibility of the Company M&M Ltd has the sole responsibility for the preparation of the BRSR and is responsible for all information disclosed in the BRSR Core attributes. The company is responsible for maintaining processes and procedures for collecting, analyzing and reporting the information and also, ensuring the quality and consistency of the information presented in the Report. M&M Ltd is also responsible for ensuring the maintenance and integrity of its website and any referenced BRSR disclosures on their website. DNV’s Responsibility In performing this assurance work, DNV’s responsibility is to the Management of the Company; however, this statement represents our independent opinion and is intended to inform the outcome of the assurance to the stakeholders of the Company. DNV disclaims any liability or co-responsibility for any decision a person or entity would make based on this assurance statement. Inherent Limitations DNV’s assurance engagement assume that the data and information provided by the Company to us as part of our review have been provided in good faith, is true, complete, sufficient, and authentic, and is free from material misstatements. The assurance scope has the following limitations: • The assurance engagement considers an uncertainty of ±5% based on materiality threshold for estimation/measurement errors and omissions. INDEPENDENT ASSURANCE STATEMENT
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