Detailing Mahindra’s growth strategy, Dr Shah said, the Group has identified several of its unlisted businesses – including Mahindra Susten, Rural Housing Finance, Powerol, Accelo, Agri, Aftermarket, Classic Legends, Electric, Mobility, and Bristlecone – as growth drivers. Businesses, which have the right to win and the ability to scale, will get more investments.
Underscoring that the list will continue to evolve, Dr Shah said, as subsidiaries show potential for growth and profitability they will be added to this list. As regards the used car business, the Mahindra leader did not rule out a listing of the business describing it as a business with huge potential.
Shah said that Mahindra was hoping to make a complete recovery in the auto segment in the next 3-6 months, subject to a steady supply chain. M&M is looking to strengthen the core of the auto business by leveraging the joint venture with Ford.
“We are ready for the challenge in the SUV segment, we have a 45% market share in the pick-up segment. We have three launches coming up in the large SUV segment over the next 12-15 months,” he said. The company, like other vehicle manufacturers, is also facing supply disruptions due to localized lockdowns.
Commenting on the EV business, Dr Shah said, M&M will remain invested in it but was actively speaking to investors in order to find the right strategic partner. “Electric is here to stay but the timing of the investment has to be right. We are open to a stake sale from the point of view of getting a partner in Mahindra Electric,” he said.