Date: 25th June 2026

Operations and Business Activities

  • Main Activity: Financial and Credit leasing activities (91.24% of turnover)
  • Other financial activities: 8.76% of turnover
  • International operations: Joint Venture in USA (Mahindra Finance USA LLC) and subsidiary in Sri Lanka (Mahindra Ideal Finance Limited) - not within BRSR boundary
  • Markets served: Rural and semi-urban India with no export contribution

Workforce Statistics

Total Employees: 27,117

  • Permanent Employees: 22,637 (Male: 21,301, Female: 1,336)
  • Other than Permanent Employees: 4,480 (Male: 4,044, Female: 436)
  • Differently-abled Employees: 33 (Male: 29, Female: 4)
  • No workers employed as per BRSR framework definition

Gender Representation:

  • Board of Directors: 20% women (2 out of 10)
  • Key Management Personnel: 33.33% women (1 out of 3)
  • Permanent Employees: 5.9% women

Turnover Rates (Permanent Employees):

  • FY2026: 25.55% overall (Male: 25.50%, Female: 26.28%)
  • FY2025: 30.97% overall (Male: 31.92%, Female: 26.21%)
  • FY2024: 26.45% overall (Male: 26.78%, Female: 19.62%)

Subsidiary and Associate Companies

  • Mahindra & Mahindra Limited (Holding Company): 52.49% shares
  • Mahindra Insurance Brokers Limited (Subsidiary): 100% shares
  • Mahindra Rural Housing Finance Limited (Subsidiary): 98.43% shares
  • Mahindra Manulife Investment Management Private Limited (Subsidiary): 51% shares
  • Mahindra Manulife Trustee Private Limited (Subsidiary): 51% shares
  • Mahindra Finance CSR Foundation (Subsidiary): 100% shares
  • Mahindra Ideal Finance Limited, Sri Lanka (Subsidiary): 58.20% shares
  • Mahindra Finance USA LLC (Joint Venture): 49% shares

CSR Applicability

  • CSR applicable under Section 135 of Companies Act, 2013: Yes

Grievance Redressal (FY2025-26)

  • Communities: 0 complaints filed, 0 pending
  • Investors: 3 complaints filed, 0 pending
  • Shareholders: 3 complaints filed, 0 pending
  • Employees & Workers: 0 complaints filed, 0 pending
  • Customers: 52,574 complaints filed, 911 pending
  • Value Chain Partners: 0 complaints filed, 0 pending

Material Responsible Business Conduct Issues

1. Emissions and Climate Change (Risk & Opportunity)

  • Risks: Operational, reputational and financial risks from climate hazards
  • Opportunities: Cheaper energy efficiency technology and green financial solutions
  • Approach: SBTi targets, energy efficiency tech, green tariff programs, EV integration

2. Human Capital (Risk & Opportunity)

  • Risks: Lack of skilled talent, high attrition, reduced productivity
  • Opportunities: Upskilling, diverse workforce promoting innovation
  • Approach: Skill-building, mental wellbeing partnerships, inclusive workplace practices

3. Diversity, Equity & Inclusion (Opportunity)

  • Approach: PRARAMBH Train-and-Employ program, second-career hiring, women representation increased from 3.7% in FY2023 to 5.9% in FY2026

4. Customer Well-being (Risk & Opportunity)

  • Approach: 365-day customer call center, centralized resolution team, CSAT and NPS monitoring

5. Business Ethics (Risk & Opportunity)

  • Approach: Anti-fraud, anti-bribery policies, mandatory annual training, 98% employee coverage

6. Board Governance (Risk & Opportunity)

  • Approach: Board subcommittees, approved policies, townhall communications

7. Risk & Control System (Risk)

  • Approach: Risk management strategies, Business Continuity Plan, ICAAP process

8. Responsible Products and Services (Opportunity)

  • Approach: EV financing, affordable housing through MRHFL, financial inclusion products

Sustainability Performance Targets and Progress

Scope 1 & 2 Emission Reduction Target: 50.4% reduction by FY2032 (baseline FY2023)

  • Scope 1 Emissions: Increased 83% since FY2023 (3,679.35 tCO2e in FY2026)
  • Scope 2 Emissions: Reduced 18% since FY2023 (11,545.23 tCO2e in FY2026)

Scope 3 Emission Reduction Target: 58.1% per employee by FY2032 (baseline FY2023)

  • Scope 3 Emissions: Reduced 43% compared to baseline (0.318 tCO2e per capita)

Other Targets:

  • 100% waste recycling: Target met in FY2025 and FY2026

Governance Structure

  • Highest authority for business responsibility: Mr. Raul Rebello (MD & CEO)
  • CSR Board Sub-Committee: Oversees ESG governance with 4 directors (3 independent + MD)
  • No independent external assessment of policies conducted

Principle-wise Performance Disclosures

Principle 1 (Ethics, Transparency, Accountability)

  • Training coverage: Board (100%), KMP (33.33%), Employees (98.24%)
  • RBI penalties: ₹71.30 lakhs for FPC/KYC non-adherence, ₹11.50 lakhs for FPC/Internal Ombudsman issues
  • Accounts payable days: 57 days (FY2026) vs 49 days (FY2025)
  • Related party transactions: Purchases 39%, Sales 4%, Investments 22%

Principle 2 (Sustainable Goods and Services)

  • Capex investments in environmental improvements: 9% of total capex
  • Sustainable sourcing: 27% of major vendors provide sustainable products

Principle 3 (Employee Well-being)

  • Health insurance coverage: 100% for permanent employees
  • Accident insurance: 100% for permanent employees, 76% for other employees
  • Maternity benefits: 100% coverage for female employees
  • Paternity benefits: 100% coverage for male permanent employees
  • Day care facilities: 87.7% coverage for permanent employees
  • Retirement benefits: PF (100%), Gratuity (100%), ESI (17.83%)
  • Return to work after parental leave: 95.24% overall, 38.30% for females
  • Training coverage: Health & safety (94.52%), Skill upgradation (99.05%)
  • Safety performance: Zero lost time injuries, zero fatalities

Principle 5 (Human Rights)

  • Human rights training: 82.67% employee coverage
  • POSH complaints: 4 filed, 0 pending, 0 upheld
  • No cases of child labor, forced labor, or discrimination

Principle 6 (Environmental Protection)

  • Energy consumption: 112,289.73 GJ total (3.87% renewable)
  • Energy intensity: 6.07 per rupee of turnover
  • Water consumption: 8,339.87 kL (100% third-party sourced)
  • GHG emissions: Scope 1 - 4,578.75 tCO2e, Scope 2 - 11,545.23 tCO2e
  • Waste generation: 13.51 metric tonnes (100% recycled)
  • Environmental compliance: Fully compliant with all applicable laws

Principle 8 (Inclusive Growth)

  • MSME sourcing: 18.41% of total procurement
  • Job creation: Semi-urban (13.39%), Urban (27.29%), Metropolitan (59.26%)
  • CSR spending in aspirational districts: Multiple projects across 62 districts

Principle 9 (Consumer Responsibility)

  • Customer complaints: 52,574 filed, 911 pending
  • Data breaches: Zero instances
  • Data privacy: Comprehensive policies aligned with DPDP 2023 rules

Assurance and Verification

  • Assurance provider: SGS India Private Limited
  • Assurance level: Reasonable assurance for BRSR Core, Limited assurance for non-Core
  • Assurance standard: ISAE 3000 (Revised) and ISAE 3410
  • Conclusion: BRSR Core indicators fairly stated; no material misstatements in non-Core indicators