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The Mahindra Group's growth story runs parallel to the rise of India. We manufactured robust vehicles that conquered the rugged terrain of a nation that had just earned its independence. We manufactured the tractors that tilled the soil and revolutionised the agricultural sector during the Green Revolution. While Indian industries were grappling with scarce resources
of the pre-liberalised economy, we gauged the opportunities in the developed markets and established Tech Mahindra to ride the Telecom wave. Today, our SUVs are pride possessions and fulfil the growing aspirations of both - the young sports enthusiasts and
the massive utility seeking class that want more from their vehicle without compromising
the comforts of a sedan. Our two wheelers help millions of Indians enjoy the freedom of movement, our pick-up trucks fuel the entrepreneurial spirit of the rural Indian, our defence segment helps secure the nation while Mahindra aerospace caters to the global high fliers
of the country. The time is ripe and the scale just right for Mahindra to usher in the next wave
of transformation. |
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Along with India, Mahindra too is pursuing a dual growth strategy - accelerate growth nationally and enhance market reach internationally. This year, we acquired Ssangyong Motor Company Limited (SYMC), a premier manufacturer of sports utility vehicles and recreational vehicles in Korea. We also leapfrogged our EV technology capability by acquiring a majority stake in Mahindra Reva Electric Vehicles Private Ltd. |
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We take great pleasure in reporting that the Automotive and Farm Divisions
have secured their best performance for the second year in a row which is reflected in the substantial growth in the net income of the Company. |
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| The Mahindra Group's performance across most of its segments has registered an improvement. The Systech segment, which had faced challenges on account of the situation prevailing post the global meltdown of 2009, has shown encouraging improvement on the back of an improved performance in Europe. |
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While we are confident of continuing our robust growth in the coming years, we are also acutely aware of the perils ahead. Inflationary pressures, coupled with rising fuel cost, natural calamities and security issues, may play a substantial role in future business outcomes. We have well-chalked out plans such as streamlining our operations and introducing more fuel efficient technologies to mitigate the impacts of these factors. |