STATUTORY REPORTS | Board’s Report 109 Employees’ Stock Option and Employees’ Welfare Schemes During the year under review, based on the recommendation of the Governance, Nomination and Remuneration Committee of your Company, the Trustees of Mahindra & Mahindra Employees’ Stock Option Trust have granted Stock Options to employees under the Mahindra & Mahindra Limited Employees Stock Option Scheme 2010 (‘ESOP Scheme 2010’). The Company has in force the following Schemes, which are covered under the provisions of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (‘SEBI SBEB Regulations’): 1. Mahindra & Mahindra Limited Employees Stock Option Scheme 2010 2. M&M Employees Welfare Fund No. 1 3. M&M Employees Welfare Fund No. 2 4. M&M Employees Welfare Fund No. 3 There are no changes made to the above Schemes during the year under review and these Schemes are in compliance with the SEBI SBEB Regulations. Your Company’s Secretarial Auditor, M/s. Parikh and Associates, has certified that the Company’s above-mentioned Schemes have been implemented in accordance with the SEBI SBEB Regulations, and the Resolutions passed by the Members for the ESOP Scheme 2010. Information as required under Regulation 14 read with Part F of Schedule I of the SEBI SBEB Regulations has been uploaded on the Company’s website and can be accessed at the Web-link: https://www.mahindra.com/Annual-Report-FY26 Particulars of Employees and related disclosures The Company had 536 employees who were in receipt of remuneration of not less than Rs. 1,02,00,000 during the year ended 31st March 2026 or not less than Rs. 8,50,000 per month during any part of the year. Details of employee remuneration as required under provisions of section 197(12) of the Companies Act, 2013 read with Rule 5(2) & 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 will be made available during 21 days before the Annual General Meeting in electronic mode to any Shareholder upon request sent at [email protected] Disclosures with respect to the remuneration of Directors, Key Managerial Personnel (KMPs) and employees as required under section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are given as Annexure V to this Report. Industrial Relations The year under review witnessed a very positive Industrial Relations Scenario across all manufacturing locations for the Automotive and Farm Equipment sectors. Your Company remains committed to fostering proactive and employee-centric practices. Various initiatives aimed at building an engaged workforce with an innovative, productive, and competitive shop-floor ecosystem have continued to grow stronger. Some of the initiatives that are undertaken include, development of Self-Managed Team, improving Gender diversity on the shopfloor, Employee of the year, Reward and Recognition for associates, i4-idea generation program, etc. Furthermore, mandatory programs on Code of Conduct, Prevention of Sexual Harassment (POSH), Anti-Bribery and Anti-Corruption (ABAC), and Human Rights are in place to ensure suitable behaviour and governance. Rephrased Mahindra Core Values have been communicated to all associates. With the objectives of building capabilities, developing a future-ready workforce, and fostering workplace togetherness, your Company implements a range of training and engagement programs. These encompass various behavioural and functional training courses such as Total Productive Maintenance, Yashashwini, Behaviouralbased safety, Financial Awareness, and courses on current and future skills like Robotics, Mechatronics, and Electric Vehicle Technology. In its ongoing effort to enhance the employee experience, your Company has been rolling out multiple digital initiatives for automating Employee Life Cycle Management and implemented an integrated Contract Labour Management System (CLMS) to manage punching to billing for contract labours. The Mahindra Skill Excellence (‘MSE’) initiative, aimed at motivating and enhancing the skills and capabilities of shop floor associates in crucial areas such as Welding, Painting, Mechatronics, Vehicle Assembly, Engine Diagnostics, and CNC Machining, continues robustly across all manufacturing plants. Associates from 18 plants across the Auto and Farm Sectors, participated in the MSE competitions during the year.
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