05 CONTENTS CONTENTS 01 CHAIRMAN’S MESSAGE 03 GROUP CEO & MD’S MESSAGE 07 PERFORMANCE HIGHLIGHTS 09 GROUP OVERVIEW THE MAHINDRA GROUP BOARD OF DIRECTORS GROUP EXECUTIVE BOARD AWARDS & ACCOLADES 21 RISE TO CREATE VALUE GROUP STRATEGIC OVERVIEW RISK MANAGEMENT OPPORTUNITIES & OUTLOOK 39 GROUP VALUE CREATION MODEL 41 RISE TO BE FUTURE-READY MANUFACTURING CAPABILITIES DIGITAL & AI CAPABILITIES NEW PRODUCTS & MILESTONES 69 RISE FOR A MORE EQUAL WORLD ESG STRATEGY PEOPLE & CULTURE SOCIAL IMPACT 93 CORPORATE INFORMATION 94 STATUTORY REPORTS BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT 302 FINANCIAL STATEMENTS STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Announcement In FY17, Mahindra & Mahindra Ltd. embarked on the journey towards Integrated Reporting in keeping with the commitment to transparency and the highest standards of corporate governance. Since then, our reporting structure has continued to evolve. While staying true to the principles of the IFRS Foundation’s International Integrated Reporting <IR> Framework, we have enhanced the format, clarity, and accessibility of the report to offer a more reader-friendly and connected experience. Integrated Reporting takes corporate disclosures beyond financial performance. It recognises that sustainable value creation relies on multiple interconnected resources. This report outlines how Mahindra & Mahindra Ltd. and Mahindra Group create value by managing the interplay between these six capitals: Financial, Manufactured, Intellectual, Human, Social & Relationship, and Natural. This year’s report is shaped by the theme ‘Acceleration in Uncertainty’, which reflects our commitment to moving decisively and boldly even in a rapidly changing world, harnessing disruption as an opportunity and leading with resilience and purpose. For any other information, please visit www.mahindra.com
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