We started with Integrated Reporting last year in line with our commitment towards transparency and the highest standards of corporate governance. This year, we are including key elements of Integrated Report with the Annual Report to present our shareholders with a broader, more holistic view of how we create and sustain value over the long-term.

An Integrated Report takes corporate reporting beyond just discussing the financial resources, as any value creation activity requires other resources like people, natural resources and business relationships. This report will discuss how Mahindra & Mahindra Ltd. creates value using interlinkages between multiple types of capital.