About Mahindra & Mahindra Limited (M&M)

Mahindra & Mahindra Limited (M&M) is a diversified Indian conglomerate with core operations in the Automotive Sector and Farm Equipment Sector, supported by businesses spanning spares, powertrain, two-wheelers, construction equipment and R&D at Mahindra Research Valley. The Integrated Report for the year ended March 31, 2025 covers these core operations and also includes performance highlights from group businesses to present the wider Group’s impact and reach . The Group operates across India (its country of domicile) and Overseas, with consolidated financial statements covering the parent, its subsidiaries, associates and joint ventures . Marking 80 years, M&M highlights a journey of deliberate growth and value creation “built for scale”, with Auto and Farm sectors reinforcing their leadership and the launch of Electric “Origin” SUVs as a milestone in India’s EV journey .

Mahindra & Mahindra Limited’s (M&M) Business Segments

• Automotive: SUVs, BEVs, lorries (LCVs), and Trucks & Buses, with recent launches and platform innovations such as INGLO (EV architecture) and MAIA (software-defined vehicle platform) .

• Farm Equipment: Tractors and farm machinery, including lightweight small tractor platforms (OJA and Target) and precision-farming solutions .

• Other group businesses referenced in the report include financial services (vehicle and SME financing), real estate development, logistics, holidays and resorts, last mile mobility (electric three-wheelers), defence, aerospace and recycling, among others  .

Mahindra & Mahindra Limited’s (M&M) Geographic Presence 

• Geographies covered: India and Overseas (with income from operations reported across both) .

• Key milestones: The year featured the launch of Electric “Origin” SUVs, continued market-share gains in Auto and Farm, and the Group’s inaugural Investor Day, which was attended by over 200 investors and analysts  .

Mahindra & Mahindra Limited (M&M) Key Management

• Anand G. Mahindra – Chairman

• Anish Shah – Group CEO and Managing Director

• Rajesh Jejurikar – Executive Director and CEO (Auto and Farm Sector)

• Amarjyoti Barua – Group Chief Financial Officer

• Divya Mascarenhas – Interim Company Secretary

Latest Updates on Mahindra & Mahindra Limited (M&M)

• Auto: M&M was No. 1 in SUVs by revenue market share at 22.5%, and No. 1 in LCVs below 3.5T with 51.9%. New launches drew strong interest, including 1,76,000+ Thar ROXX bookings in the first 60 minutes and day-one bookings for BE 6 and XEV 9e; XUV 3XO launched in South Africa to strong response, with South Africa and Australia posting record volumes .

• Farm: The company remained the world’s largest tractor manufacturer by volume, achieved its highest-ever tractor market share at 43.3% (42nd consecutive year of leadership), and expanded the OJA and Target platforms; tractor exports grew 27% year-on-year .

• Last Mile Mobility: Retained No. 1 position in electric three-wheelers with 42.9% market share; launched Treo Plus (Metal), Mahindra Zeo, eAlfa Plus and Alfa Duo; cumulative Treo sales surpassed 1,00,000 units in FY25 .

• Tech Mahindra (associate): Reported US$ 2,680 Million in new deal wins (up 43% year-on-year) and 9.7% EBIT margins, supported by operational initiatives under “Project Fortius” .

• Investor relations: The Group hosted its inaugural Investor Day, with senior management engaging on capital allocation, scaling “Growth Gems” and product strategy, complemented by an R&D centre tour and product launches such as Thar ROXX and BEVs .

• Credit ratings: CRISIL, ICRA, CARE and India Ratings reaffirmed the highest short-term ratings and AAA/Stable long-term ratings for various facilities, reflecting strong financial flexibility and management profile .