06 Integrated Annual Report 2025-26 ABOUT THE REPORT Integrated Report <IR> We believe value creation is not limited to financial performance but is about delivering sustained outcomes for all stakeholders. This Integrated Report outlines how we generate, preserve, and grow value by strategically managing financial and non-financial capital. We remain committed to the principles of integrated reporting, mapping the relationships between inputs, value-creating activities, outputs, and outcomes across six capitals: Financial, Manufactured, Intellectual, Human, Social and Relationship, and Natural. The detailed Statutory Statements and Financial Reports are also part of this document and are in line with the requirements of the Companies Act, 2013 (including the Rules made thereunder), Indian Accounting Standards, Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the applicable Secretarial Standards. This report draws reference from internationally recognised frameworks such as the Integrated Reporting <IR> Framework, GRI Standards, and SEBI BRSR guidelines. The Business Responsibility and Sustainability Report which forms a part of this Integrated Report is aligned with the nine principles of the National Guidelines on Responsible Business Conduct (NGRBC), as articulated by the Ministry of Corporate Affairs. Please note that certain statements in this report with regard to our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Throughout the Report, the terms ‘Mahindra’, ‘Mahindra & Mahindra’, ‘M&M’, and ‘M&M Ltd.’ are used interchangeably to refer to Mahindra & Mahindra Limited. Scope of the Report The reporting period of the Integrated Report is from 1st April 2025 to 31st March 2026. The scope covers Mahindra & Mahindra Ltd.’s Automotive and Farm Equipment Sectors. In addition, this report includes performance highlights and strategic insights from Mahindra Group businesses — a diversified portfolio spanning multiple industries and geographies. Together, they reflect the scale and depth of the Mahindra Group. Through an integrated lens, this report offers a holistic view of how the Group creates and sustains value — for its businesses, its stakeholders, and the wider communities it serves. It presents a cohesive and balanced account of our performance, strategic priorities, and our ability to create long-term value across six interconnected capitals. A visual value creation model, backed by key performance indicators (KPIs), brings these connections to life. Financial Manufactured Intellectual Human Social & Relationship Natural
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