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Recognised in the Unlisted Segment within the Medium Category at the 21st edition of the ICSI National Awards
Mumbai, December 21, 2021: Mahindra Intertrade, a wholly-owned subsidiary of Mahindra & Mahindra Ltd. has won the prestigious ‘Best Governed Company’ in Unlisted Segment within the Medium Category at the 21st edition of the Institute of Company Secretaries of India (ICSI) National Awards. The award was presented by Shri Amit Shah, Hon’ble Minister of Home Affairs, in a glittering ceremony held in Mumbai.
The award recognised the company’s remarkable performance, forward-looking disclosures in its annual report, technology-driven growth in traditional businesses, expansion to exciting futuristic businesses, focus on customer and employee-centric practices, governance ethos and sensitised approach towards CSR and sustainable development. The jury for the award washeaded by the Hon’ble Mr. Justice P Sathasivam, Former Chief Justice of India. Additionally, the Company Secretary of the Company, Romali Malvankar, was conferred with the Governance Professional of the Year award in the Unlisted Medium Category.
Mahindra Intertrade is the Mahindra Group’s steel solutions and recycling arm. It is India’s largest independent steel service centre network with presence at eight locations in India and two steel service centres outside the country (Sharjah and Indonesia). Engaged in supplying high quality processed steel for the Automotive, Power transformer and Home appliance industries, Mahindra Intertrade has recently made investments in Automotive recycling and Electric vehicle motors industries.
On the recognition, Bharat Doshi, Chairman, Mahindra Intertrade Ltd., said, “Mahindra Intertrade continues to Rise responsibly with high standards of Corporate Governance, as you would expect from a Mahindra group company. This award is a testament to the way this company is governed and run by senior management, the role played by the Board of Directors in nurturing Good Governance and the way each and every individual performs tasks in a transparent manner.”
Adding to this, Sumit Issar, Managing Director, Mahindra Intertrade Ltd., said, “The company is well on its path to sustainable and responsible growth on the back of a robust business model and transparent conduct of business.”
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership positionin farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
About ICSI awards
The Institute of Company Secretaries of India (ICSI) is a premier professional body established under an Act of Parliament, namely, The Company Secretaries Act, 1980. The Institute has been recognising and awarding companies for imbibing and inculcating good governance practices by bestowing the ‘ICSI National Awards for Excellence in Corporate Governance’ since the last 20 years. The awardees across these diverse segments are selected through a rigorous comprehensive evaluation process. The selection of winners is guided by an eminent Jury comprising distinguished experts from varied walks of life and is usually chaired by a former Chief Justice of India. At ICSI, each year, companies are recognised for implementing best practices in Corporate Governance.
About Mahindra Intertrade
Mahindra Intertrade is India’s largest independent steel service centre network with presence at eight locations in India and two steel service centres outside India. The company is an exciting mix of traditional core businesses and futuristic businesses. Backed by state-of-the-art processing and manufacturing facilities and investments in technology enabled differentiators, Mahindra Intertrade has been on the growth trajectory since last couple of decades. The company plans to enter the high-end BLDC motors for Home appliance and motors for Electric vehicle industries. It also has aggressive plans to expand its presence in the Automotive recycling business from 11 locations currently to more than 25 locations in next 1-2 years.
For further enquiries, please contact:
Ms. Priya Zutshi
Senior Manager – Group Communication Mahindra