Report Overview

The 19th annual sustainability report covers Mahindra & Mahindra Limited and all group subsidiaries, providing a holistic view of Environmental, Social and Governance (ESG) performance. The report incorporates Double Materiality assessment principles and has been externally assured by DNV Business Assurance India Private Limited.

Organizational Coverage

The report covers over 90% of Mahindra Group's revenues including Automotive, Farm Equipment & Mobility (M&M Ltd.), Information Technology Services (Tech Mahindra), Hospitality (Mahindra Holidays & Resorts), Financial Services (Mahindra Finance entities), Real Estate (Mahindra Lifespaces), Logistics (Mahindra Logistics), Renewable Energy (Mahindra Susten), Auto Components, and Defence & Aerospace.

Key Financial Performance

Mahindra & Mahindra Ltd. (Standalone):

  • Revenue: INR 1,477,650 million (25% growth over F25)
  • PAT: INR 156,390 million (32% growth over F25)
  • Global sales: 1.65 million vehicles & tractors (20.4% higher than F25)

Subsidiaries Performance:

  • Tech Mahindra: $3,794 million deal wins (highest in 5 years), 12.6% EBIT margins
  • Mahindra Finance: INR 1,340,960 million AUM (up 12%), 100% digital onboarding
  • Mahindra Logistics: INR 69,990 million revenue (up 15%), returned to PAT profitability
  • Mahindra Lifespaces: INR 41,180 million sales (up 25%), net debt-to-equity at -0.27

Environmental Performance

Energy & Emissions:

  • Group renewable electricity share: 35% (up from 27% in F25)
  • Emission intensity per unit revenue reduced by 20%
  • Absolute Scope 1+2 emissions: 321,529 tCO₂e
  • Scope 3 emissions: 123,705,567 tCO₂e (mainly from product use)

Water Management:

  • Group water intensity reduced by 8% per unit revenue
  • 31% of total water withdrawn recycled
  • M&M Ltd. achieved 82% water positivity index

Waste Management:

  • 89% of M&M locations 'zero waste to landfill' certified
  • Generated >200,000 tonnes waste, diverted >90% from landfills

Social Performance

Health & Wellness Initiatives:

  • Way2Wellness App: Health tracking, medical records access, and blood donor connectivity
  • Telemedicine Partnership with Practo: Remote consultations in 12 languages with 7-day follow-ups
  • Mental Health Programs: Expert-led webinars, virtual workshops, and confidential counseling
  • WeRise Initiatives: Wellness Wednesdays, muscle relaxation sessions, and body composition analysis

Workplace Safety:

  • All manufacturing plants ISO 45001:2018 certified
  • FSI - Reportable Accidents improved from 0.017 to 0.008
  • Zero fatalities and zero permanent disabilities
  • Mahindra Lifespaces achieved 11.1 million injury-free man-hours

Supply Chain Sustainability:

  • Total Tier-1 suppliers: 2,726
  • Significant suppliers assessed: 307 covering 93.5% of significant suppliers
  • Third-party onsite ESG audits covered 11.9% of purchase value in F26
  • Zero supplier terminations due to negative impacts

Community Development & CSR

Education Initiatives:

  • Project Nanhi Kali: Supported 194,392 girls in F26
  • 181,037 girls trained in 21st-century skills and sports leadership
  • Skill Bridge program trained 13,355 girls in English fluency and job preparedness

Women Empowerment:

  • Project Kaabil: Empowered 462,704 women through livelihood-focused training
  • 329,423 women trained in employability skills across 22 states
  • 101,212 women farmers trained in agricultural skilling

Environmental Conservation:

  • Project Jal Samriddhi: Created/rejuvenated 853 water harvesting structures
  • 6,010.3 lakh litres water harvesting potential enabled
  • 3,792.7 hectares brought under improved irrigation

Governance Structure

Board Composition:

  • 11 Directors total with 6 Independent Directors (including 4 Women Independent Directors)
  • 55% Independent Directors
  • 9 Board meetings held with 95% average attendance

ESG Governance:

  • Board Committee for CSR oversees ESG agenda
  • Group Sustainability Council provides strategic direction
  • 5-10% of business goals linked to ESG achievements
  • Climate metrics integrated into corporate performance

Awards and Recognitions

  • Ranked #44 on TIME's World's Best Companies 2025
  • Special Jury Award at India Today Group's 'India's most sustainable companies 2026'
  • Top 1% in S&P Global's 2025 Sustainability Yearbook
  • FT New Champions of CSR Award for Outstanding Contribution
  • Golden Peacock Award for Corporate Social Responsibility
  • Maharashtra State Industrial Safety and Health Award 2026

Forward-looking Commitments

  • Carbon neutrality by 2040 (Scope 1 & 2)
  • 100% renewable electricity by 2030
  • 100% improvement in energy productivity by 2030
  • Water positivity across operations
  • Zero waste to landfill
  • Expanding green product portfolio
  • Strengthening supply chain decarbonization