34 Integrated Annual Report 2025-26 Classic Legends Launched in 2018, Classic Legends (CLPL) has been at the forefront of reviving iconic motorcycle brands like Jawa, Yezdi, and BSA. CLPL aspires to become a leading player in the premium motorcycle segment in India and globally. The focus is on new and distinctive product launches, distribution expansion and scale up of exports in key markets. In FY26, CLPL revitalised the Yezdi portfolio with the launch of the Yezdi Adventure Dual Headlamp and the new Yezdi Roadster. CLPL expanded its global portfolio by launching BSA Bantam and Scrambler. Bristlecone Headquartered in San Jose, California, Bristlecone is emerging as a high-growth digital supply chain partner, delivering end-to-end transformation across planning, sourcing and fulfilment for global enterprises. Under new leadership, the business has strengthened its strategic focus on SAP-led supply chain modernisation, AI-driven solutions and high-value consulting. Bristlecone is aiming to accelerate growth led by deeper investments in AI and expansion in priority global markets. This aspiration is well-aligned with its current growth momentum and platform investments. Mahindra Manulife Life Insurance Mahindra Manulife represents the next step in Mahindra’s ambition to deepen financial inclusion across India. The new 50:50 life insurance joint venture with Manulife aspires to close the protection gap for rural and semi-urban households, where insurance penetration remains extremely low. Mahindra Accelo Mahindra Accelo is a leading manufacturer of high-end automotive and EV components (Tier 0.5/1 manufacturer), power components, and an end-of-life vehicle recycler (through Cero). As EVs gain traction, Accelo is positioned to capture the next phase of OEM demand with EV-ready capabilities in motor cores, aluminium battery casings, and body-in-white structures. Accelo plans to expand component capacity and enter the small auto component segment. Cero is India’s first and largest government-authorised end-of-life vehicle recycler. With a presence across 58 cities, Cero has set a target of reaching 100+ cities by FY28. All Accelo plants are Zero Waste to Landfill certified. Key highlights from Accelo’s performance in FY26 • The business achieved highest ever revenue of more than ₹6,000 crore, a growth of 5x over the last 6 years. • Cero has recycled 40,000+ vehicles from 2019 to 2026. • Accelo expanded capacity for energy components and installed a new processing line for Auto components. Mahindra First Choice Mahindra First Choice Wheels (MFCW) is India’s leading used automobile platform. It has one of the largest retail footprints, with 100+ stores across India, selling multi-brand used vehicles under the ‘carandbike’ brand. In FY26, MFCW revamped its online platform, carandbike.com, to lay the foundation for its next-gen digital presence. MFCW holds a commanding share in the enterprise services business, with all major banks, NBFCs, fleets, and OEMs among its clients. MFCW has further strengthened its leadership in the aftermarket space primarily through three brands — Autoinspekt, conducting over 3.6 million evaluations annually; Yard Management System that provides vehicle storage and management solutions with a presence across 500+ cities; and eDiig, an online auction platform, facilitating vehicle sales across 1,000+ locations nationwide.
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