Page 3 - Mahindra Group

Mahindra group inks pact with Maha govt to set up vehicle-scrapping units

The scrappage centres will be equipped with recycling end-of-life 2/3-wheelers, passenger and commercial vehicles in accordance with all legal and environmental norms

Volume revival in utility vehicles, valuations positive for Mahindra

Margin recovery in UVs, prudent capital allocation should help improve return ratios

Mukesh Ambani ups bet on battery-swapping under agreement with Mahindra

RIL's second agreement to explore battery swapping in six months; may lead to standardisation of battery technology with OEM and fueling operator joining hands

Jio-bp and Mahindra Group sign MoU for EV and low-carbon solutions

The companies aim to explore creation of solutions on battery swapping technology for electric 3-wheelers

Bumper Diwali sales: Not revenge buying but sustainable demand

The confederation said the upswing was not triggered by 'Revenge Buying' but a 'Sustainable' demand trend.

Amazon, Apple, Mahindra join coalition to drive zero-carbon tech demand

The Coalition has been launched at the COP26 Summit being held in Glasgow

Mahindra Finance disburses over Rs 2,000 crore for second time in Aug

Mahindra & Mahindra Financial Services (Mahindra Finance) on Friday said it has disbursed over Rs 2,000 crore for the second time in a row in August. In August 2021, the business continued its momentum with a disbursement of more than Rs 2,000 crore for the second month in a row. The total disbursement at about Rs 2,150 crore delivered 57 per cent year on year growth, albeit on a lower base of August 2020, which was impacted by the first wave of COVID-19, Mahindra Finance said in a release. The collection efficiency was reported at nearly 97 per cent for August 2021, further improving to 95 per cent in July 2021. Collection efficiency in April, May and June was 72 per cent, 67 per cent, 90 per cent, respectively. "With the opening of the economy and improved mobility, the company witnessed a meaningful reduction in the NPA (non-performing assets) contracts during the month as customer cash flows improved. "We believe that this is a very encouraging sign. The company expects this

Mahindra Defence Systems bags Indian Navy contract worth Rs 1,349.95 crore

Mahindra & Mahindra Ltd on Friday said group firm, Mahindra Defence Systems Limited (MDS) has bagged a contract worth Rs 1,349.95 crore for manufacturing of Integrated Anti-Submarine Warfare Defence Suite (IADS) for modern warships of Indian Navy from the Indian government. Competitive bids from Indian companies were invited by the Ministry of Defence (MoD) through open tender wherein the systems fielded were put through detailed trials at sea to prove their capability, Mahindra & Mahindra said in a regulatory filing. Mahindra Defence would be supplying 14 IADS systems for the Indian Navy warships, it added. Commenting on the development, Mahindra Defence Systems Ltd Chairman SP Shukla said, "It is the first major contract with the private sector meant for underwater detection and protection from threats. This contract once again epitomises the success of the Atmanirbhar Bharat initiative." IADS is high-end underwater equipment that uses the latest technology along with a ...

Mahindra Group to financially compute its impact on society: Anand Mahindra

Mahindra and RIL are two Indian firms that joined 61 other global firms to commit to the core Stakeholder Capitalism Metrics released by IBC at the World Economic Forum this Jan

Mahindra & Mahindra Q1 consolidated net loss after tax at Rs 332 cr

Mahindra & Mahindra on Friday reported a consolidated net loss after tax from continuing and discontinued operations at Rs 331.74 crore in the first quarter ended June 30. The company had posted a consolidated net profit after tax from continuing and discontinued operations at Rs 54.64 crore in the first quarter last fiscal, M&M said in a regulatory filing. Consolidated revenue from operations stood at Rs 19,171.91 crore, as against Rs 11,969.04 crore in the same period last fiscal, it added. M&M said it has ceased consolidating Ssangyong Motor Co (SYMC) as a subsidiary from December 28, 2020 and has classified it as discontinued operations for all periods presented. SYMC has applied to the Bankruptcy Court in South Korea for rehabilitation proceedings and has been admitted in the Autonomous Rehabilitation Support (ARS) program. During the quarter, the company said the automotive segment had a revenue of Rs 6,050 crore, while the farm equipment segment clocked revenue of ..

Debt-ridden SsangYong Motor to sell plant site in rehabilitation efforts

The company has been under court receivership since April, as its Indian parent, Mahindra & Mahindra, failed to secure a buyer for its 75 percent stake in the automaker.

Classic Legends to develop electric version of BSA motorcycles in UK

The JV has got a grant from UK govt, which awarded BSA a £4.6-million grant to develop electric bikes

Anand Mahindra objects to Bengaluru being called 'Silicon Valley of India'

Mahindra was reacting to the launch of a non-stop flight between Bengaluru and San Francisco, the latter home to the Silicon Valley.

Mahindra CEO expects car sales to take 2 years to rebound after Covid shock

Anish Shah said sales would rebound by fiscal year 2023 if a majority of the country's population is inoculated and new Covid cases ease

Mahindra lines up Rs 17,000 cr to steer growth over next three years

Mahindra & Mahindra is planning to deploy Rs 17,000 crore over the next three years, including capex on new models and investments in group companies besides its auto and farm sector businesses, a top company official said on Friday. The company plans to launch total 23 models in passenger vehicles segment and light commercial vehicles (LCV) category by 2026 and 37 models in the farm equipment vertical under its Project K2 by 2024-25. Addressing reporters in a virtual earnings call conference, Mahindra Group Managing Director and CEO Anish Shah said out of the Rs 17,000 crore planned to be deployed in the next three years, capital expenditure is at Rs 12,000 crore. It includes Rs 6,000 crore for conventional automotive, Rs 3,000 crore for electric vehicles (EVs) totalling Rs 9,000 crore for the automotive sector. While for the farm equipment sector, capex is at Rs 3,000 crore, he added. "So a total capex of Rs 12,000 crore (in three years). The remaining Rs 5,000 crore is ...

Mahindra Group to open MADE, a design centre for mobility products in UK

The firm will be the second from India to enter UK for designing cars and SUVs, after Tata Motors set up the European Technical Centre in Coventry in 2005

Governance: Putting the 'G' in ESG

A study found that over the 12 months, governance consistently ranked second, behind only a company's products, as a driver of corporate reputation

Anish Shah to take over as MD and CEO of M&M next month, company says

Finance veteran will be the first in Mahindra's history to have complete oversight of group when Anand Mahindra becomes non-executive chairman.

Top headlines: Tatas win in court against Mistry; Air India sale in June

From financial bids for Air India to Mahindra's new chief-here are top headlines this evening

Govt to set up empowered committee for manufacturing in high tech areas

Tata Sons chairman N Chandrasekaran, Bharat Forge Chairman Baba Kalyani, Mahindra Group managing director and CEO Pawan Goenka, among others, will be part of the committee