As per the chairman’s statement, the company exceeded the deadline by two years, yet he expressed immense satisfaction in achieving this milestone and anticipated many more to follow….reports Asian Lite News
Mahindra Group Chairman Anand Mahindra on Thursday hailed teams in his Group companies for charting a new course and getting them back on customary growth trajectory.
Mahindra and Mahindra’s stock closed at Rs 2,008 on Thursday.
“In December 2019, when the share price had fallen to around Rs 500, I vividly recall that at our annual leadership conference (M10) held in Mumbai, the then CFO had issued a clarion call for our stock to be “2000 by 2022,” Anand Mahindra posted on X platform.
“Little did we know, of course, that a global pandemic lurked around the corner.”
The next couple of years were challenging for everyone but for the Mahindra Group, “we lived up to our motto — When the going gets tough, Mahindra gets going…”
According to the chairman, the company overshot the deadline by two years, “but it’s incredibly gratifying to cross this milestone with many more to come”.
He then thanked Mahindra Group CEO Dr Anish Shah and Executive Director Rajesh Jejurikar and the teams both in M&M and all Group companies “who charted new strategies and worked relentlessly to get us back on our customary growth trajectory”.
Founded in 1945, the Mahindra Group is one of the largest companies with 260,000 employees in over 100 countries.
It has a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume.
The Group also has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
Meanwhile, Mahindra Group Chairman Anand Mahindra and his family have pledged Rs 500 crore over the next five years to Mahindra University, starting from the next financial year (FY25) till FY29, it was announced on Wednesday.
The funds would help propel Mahindra University’s mission to strive for interdisciplinary academic excellence and train multi-skilled leaders committed to “inclusive and sustainable progress”, the university said in a statement.
Anand Mahindra also made a personal pledge of Rs 50 crore endowing the Indira Mahindra School of Education in FY25. Named in memory of Indira Mahindra, a teacher and Anand Mahindra’s mother, the school aspires to be a centre of excellence in educational research, practice, and innovations.
The combined pledge of Rs 550 crore is the latest of many education initiatives that Anand Mahindra supports around the country, including the Mahindra United World College India and the Mahindra International School.
In 1996, the entrepreneur started the ‘Nanhi Kali’ programme, which has provided over 700,000 underprivileged girls with access to high-quality education over the past two decades.
Mahindra University was established in May 2020 in Hyderabad. Beginning with the School of Engineering, the university now offers 35 programmes across five schools and four centres at the undergraduate, post-graduate, and doctorate levels. The university has over 4,100 students enrolled, approximately 10 per cent of whom are at the postgraduate level.
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