Latest news and updates from Mahindra Group

M&M Ltd. announces overall auto sales for November 2023
In December 2023, M&M Ltd. reported a 6% growth in overall auto sales, reaching 60188 vehicles, including exports. The utility vehicles segment experienced robust growth, with 35171 vehicles sold domestically, marking a 24% increase. The total sales in this segment, including exports, amounted to 36349 vehicles. The domestic sales for commercial vehicles stood at 17888. Veejay Nakra, President of the Automotive Division, highlighted the positive performance, particularly the 24% growth in SUV sales. He acknowledged the ongoing supply challenges on specific components and assured collaboration with suppliers to address these challenges in the future. Read more

Farm Equipment Sector’s tractor sales for December 2023
Domestic sales in December 2023 were at 18028 units. Total tractor sales (Domestic + Exports) during December 2023 were at 19138 units. Exports for the month stood at 1110 units. Hemant Sikka, President – FES, attributed the slowdown in domestic sales to reduced agricultural activities typical for December. However, he expressed optimism, citing the anticipated boost in tractor demand due to higher horticulture production and ongoing government support in the agriculture sector. Read more

ESG training for M&M supplier partners
In addition to virtual ESG awareness sessions, M&M conducted its first one-day classroom ESG training programme for supplier partners at Mahindra Towers – Chakan on December 1, 2023. The comprehensive training covered ESG fundamentals, M&M's audit requirements, IT portal details, and addressed the latest regulatory aspects. Delivered in collaboration with the AFS Sustainability team, 68 Participants from over 40 different suppliers took part in the programme. Since its launch in March 2023 M&M and has completed over 140 onsite third-party audits.

MLDL unveils second phase of Happinest Palghar - 2
Spanning 1.86 acres, the development comprises 260 apartments (1 BHK and 2 BHK) and 47 retail shops. A first-of-its-kind residential project in the Mumbai Metropolitan Region (MMR), it features an 'Energy Park' offering over 30 outdoor activities designed for all age groups. The project incorporates Warli art, sustainable construction, and smart design that prioritises natural light and ventilation. Noteworthy features include a Miyawaki forest, ecological pond, jogging tracks among others. Environmental sustainability is a key focus, with IGBC-certified homes incorporating water and power-saving measures, wastewater recycling, and a strategic sourcing approach for reduced carbon footprint within a 250 km radius. Read more

Leadership Talk with T.N. Manoharan
In a Leadership Talk held on December 12, 2023, T.N. Manoharan, Independent Director of M&M Ltd., and Chairman of the Audit Committee & Risk Management Committee, engaged in a dialogue with Chief Ethics Officers and Ethics Counsellors across Mahindra, sharing invaluable insights on the pivotal role of ethics in sustaining a company. Emphasising the need for an ethical foundation, he highlighted the difference between compliance and personal responsibility, urging individuals to internalise ethical values. Mr. Manoharan underscored the constant nature of ethical principles in leadership, emphasising the importance of integrity and personal journeys.

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