Mumbai: Mahindra & Mahindra (M&M) is the 11th most valuable automobile manufacturer in the world, leaping over many competitors and erstwhile technology collaborators, its Chairman Anand Mahindra said on Wednesday.
In a New Year address to the employees of Mahindra Group, he said that among companies that were part of the NIFTY50 in 2002, M&M has had the highest compounded annual share price growth rate till date, and in just the past year, has soared 77 per cent.
“For the fourth straight year, we were included in the Dow Jones Sustainability Index’s World Index as the highest-ranked automotive OEM,” Anand Mahindra wrote.
Most notable among other businesses, Mahindra Susten exceeded its plans for the year, with a cumulative win pipeline of 3.3GWp, over 60 per cent of its targeted capacity.
“Last Mile Mobility continued its leadership position in the electrification of India’s 3W market, Mahindra Finance’s loan book swelled to over Rs 1.1 lakh crore and tractor business expanded its dominant position in India amid tough competition,” the company’s Chairman informed.
On the EV business, he said that it takes audacity for a traditional SUV company to make a big bet on the future of electric vehicles in an uncertain world.
“And it takes a deep commitment to innovation to forge cutting-edge technology, design, and performance into vehicles that have unique offerings. I hope this will be a portent for the future of every company within the Group,” said Anand Mahindra.
He further stated that India is well positioned to more than fend for itself.
“It is no longer the 99-pound lightweight on the beach. It can demonstrate military might. It can boast of political stability, anchored by its raucous and robust democracy that was on full display in the central elections, when a nation of over a billion people voted seamlessly, peaceably, and effectively,” he noted.
India can enhance its economic potential, by seizing the opportunity offered by shifting affinities and alliances to become a keystone in the global supply chain system.
“We will be less affected by capricious global winds than many other countries. In that context, our Group should have no dearth of opportunities for growth, both domestic and international,” Anand Mahindra told employees.
(IANS)
