10 Integrated Annual Report 2025-26 MAHINDRA & MAHINDRA LTD. Mahindra & Mahindra Ltd. is the flagship Company of the Mahindra Group. Our core business is mobility products and farm solutions. Since assembling our first vehicle in 1947, we have grown rapidly. Today, we offer a wide range of products and solutions ranging from SUVs, pick-ups, commercial vehicles and tractors to farm machinery, gensets and construction equipment. The Company holds a leadership position in SUVs by revenue market share, tractors and light commercial vehicles (<3.5T) in India. Over the past decade, our patent portfolio grew 20x — from 56 patents granted in FY16 to 1,334 in FY26. Conversion ratio of applications to patents stood at 8% in FY16 and has improved to 65%+ for the applications filed over this period. The growing patent portfolio reflects the Company’s focus on innovation and R&D capabilities, and reaffirms its unwavering commitment to the ‘Make in India’ initiative.
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