04 Integrated Annual Report 2025-26 Uncertainty will remain a constant. But we have never waited for certainty to act. This requires a commitment to continuous learning and a willingness to challenge established ways of working. Those who move early and decisively will lead. We are determined to be among them. Building a Global Talent Powerhouse At the heart of every enduring institution lie its people. Our aspiration is to build a global talent powerhouse — one that attracts exceptional individuals, nurtures their potential, and creates an environment where they choose to stay and grow. It means a culture that is vibrant and energising, where ideas are encouraged and diverse perspectives valued. It means building a caring meritocracy where performance is recognised and people feel supported to do their best work. Above all, it requires staying anchored in our values. Values that guide decisions, shape behaviours and give our people the confidence to act with clarity, especially in uncertain times. The Path Forward The progress we have made gives us confidence, but the environment ahead demands greater resolve. We are well positioned to accelerate in uncertainty. Across industries, uncertainty is no longer abstract, it is operational. Energy and infrastructure constraints, volatility in commodity prices, and rising logistics and forex costs are reshaping cost structures. The availability of critical inputs from metals such as aluminium to time-sensitive imports remain uneven. At the same time, supply chains are being tested by manpower shortages across partner ecosystems. In this context, our response is not to slow down, but to move forward with greater clarity and discipline. Across our businesses, we are setting our sights on global leadership. This marks a shift from strong performance to a more expansive ambition, one that demands we think bigger, act with conviction and move together as one organisation. Uncertainty will remain a constant. But we have never waited for certainty to act. We will continue to create direction, act with conviction, and build with purpose…guided by our values and strengthened by our people. Thank you for your continued trust and belief in Mahindra. Warm regards,
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