Mahindra & Mahindra Ltd. | Integrated Annual Report 2024-25

MESSAGE FROM THE LEADERS	4
COMPANY OVERVIEW	12
The Mahindra Group	12
Mahindra & Mahindra Ltd.	13
20+ Industries	14
The Board of Directors	15
Group Executive Board	16
Group Snapshot	16
Awards and Accolades	18
Global Footprint	22
Manufacturing Plants in India	24
Manufacturing Capabilities	25
RISE TO CREATE VALUE	28
Group Strategic Overview	28
Risks & Opportunities	41
Opportunities & Outlook	43
VALUE CREATION MODEL	44
RISE TO BE FUTURE-READY	46
Digital Capabilities	46
Product Launches	52
RISE FOR A MORE EQUAL WORLD	58
ESG Strategy	58
Environmental Stewardship	65
People	71
Social	79
CORPORATE INFORMATION	86
STATUTORY REPORTS	87
Board's Report	88
Management Discussion and Analysis	148
Corporate Governance	173
Business Responsibility and Sustainability Report	225
FINANCIAL STATEMENTS	280
Standalone Accounts	283
Consolidated Accounts	357
Notice	465

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