Wikipedia

Mahindra Group

For other uses, seeMahindra (disambiguation).

Mahindra Groupis an Indianmultinationalconglomerate,headquartered inMumbai.The group has operations in over 100 countries, with a presence inaerospace,agribusiness,aftermarketautomotivecomponents,construction equipment,defence,energy,farm equipment, finance and insurance, industrial equipment,information technology,leisureandhospitality,logistics,real estate,retailandeducation.[3]The group's flagship companyMahindra & Mahindrahas market leadership in utility vehicles[4]as well as tractors in India.

Mahindra Group
Company typePrivate
IndustryConglomerate
Founded2 October 1945;79 years ago(1945-10-02)
Founder
HeadquartersMumbai,Maharashtra,India
Area served
Worldwide
Key people
Products
RevenueIncreaseUS$23billion[1](FY 2024)
OwnerAnand Mahindra
Number of employees
260,000+ (2024)[2]
Websitewww.mahindra

History

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Mahindra & Mahindra was incorporated as Mahindra & Mohammed in 1945 by the brothersJ. C. MahindraandK. C. Mahindra,andMalik Ghulam MuhammadinLudhiana,Punjabto trade steel. Following thePartition of Indiain 1947, Malik Ghulam Muhammad left the company and emigrated toPakistan,where he became the first finance minister of the new state (and later the third Governor General in 1951). In 1948, K. C. Mahindra changed the company's name toMahindra & Mahindra.

Building on their expertise in thesteel industry,the Mahindra brothers began trading steel with UK suppliers. They won a contract to manufactureWillys Jeepsin India and began producing them in 1947. By 1956, the company was listed on theBombay Stock Exchange,and by 1969 the company became an exporter ofutility vehiclesand spare parts.[5]Like many Indian companies, Mahindra responded to the restrictions of theLicence Rajby expanding into other industries. Mahindra & Mahindra created atractordivision in 1982 and a tech division (nowTech Mahindra) in 1986. It has continued to diversify its operations through both joint ventures andgreenfield investments.[6]

By 1994, the group had become so diverse that it undertook a fundamental reorganization, dividing into six Strategic Business Units:Automotive;Farm Equipment;Infrastructure;TradeandFinancial services;Information Technology;and Automotive Components (known internally as Systech).[7]The newmanaging director,Anand Mahindra,followed this reorganization with a new logo in 2000 and the successful launch of theMahindra Scorpio(a wholly indigenously designed vehicle) in 2002. Along with an overhaul in production and manufacturing methods, these changes helped make the company more competitive,[8]and since then the Group's reputation and revenues have risen noticeably. Currently, Mahindra & Mahindra is one of the 20 largest companies in India[9]In 2009, Forbes ranked Mahindra among the top 200 most reputable companies in the world.[10]

In January 2011, the Mahindra Group launched a new corporate brand, Mahindra Rise, to unify Mahindra's image across industries and geographies.[11]The brand positions Mahindra products and services as aspirational, supporting customers' ambitions to 'Rise.'

In April 2012, the Mahindra Group expressed interest in purchasing the bankrupt automobile companySaab,and placed several bids for Saab, though was outbid by Saab's new ownerNational Electric Vehicle Sweden.[12]

Affiliated companies

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  • Aerospace
  • Aftermarket
  • Mahindra FirstChoice Services
  • Mahindra First Choice Wheels
  • Agribusiness
  • Mahindra Agribusiness Division
  • EPC Mahindra
  • Automotive
  • Components
  • Consulting
  • Mahindra Integrated Business Solutions
  • Mahindra Logisoft
  • Mahindra Special Services Group
  • Defence
  • Mahindra & Mahindra – Military Defence Division
  • Education
  • Energy
  • Farm equipment
  • Financial services
  • Hospitality
  • Information technology
  • Logistics
  • Mahindra Logistics
  • Ecommerce
  • M2ALL
  • Real estate
  • Sports
  • Media

Community initiatives

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The Mahindra Group is extensively involved inphilanthropyand volunteering. It is considered an active participant in the IndianCorporate Social Responsibilityfield and received the Pegasus Award for CSR in 2007.[13]Mahindra engages in philanthropy primarily through the KC Mahindra Trust, which serves as the CSR arm of the group (although many subsidiaries have their own CSR initiatives, notablyTech MahindraandMahindra Satyam).[14]Founded in 1953 by K.C Mahindra, thetrustfocuses primarily on fosteringliteracy in Indiaand promoting higher learning through grants and scholarships.[15]Mahindra operates several vocational schools as well as theMahindra United World College.[16]The KC Mahindra Trust's primary project however isProject Nanhi Kali,which targets the education of youngIndiangirls.[17]The foundation currently supports the education of approximately 153,190 underprivileged girls.[18]Other initiatives include Mahindra Hariyali (a 1 million tree planting campaign)[17]as well as sponsorship of theLifeline Express,a mobile hospital train. Mahindra employees also plan and lead their own service projects through Mahindra's Employee Social Options Plans. In 2009, more than 35,000 employees participated.[19]

The Mahindra Group was responsible for the creation ofMahindra United World College,aUWCcampus located inPune.

Mahindra supports the Mahindra Excellence in Theatre Awards to recognize Indian theater talent, the Mahindra Indo-American Film Festival, and the Mahindra Lucknow Festival. In 2011, it held the first annualMahindra Blues Festivalwith guests including Buddy Guy, Johnny Lang, and Shemekia Copeland at theMehboob Studiosin Mumbai.[20]Mahindra partners with the NBA and Celtic Football Club to bring grassroots basketball and football to India.[21]

Leadership

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Keshub Mahindra was the Chairman Emeritus of Mahindra & Mahindra and a graduate ofWharton Business School,University of Pennsylvania,USA. He joined the company in 1947 and became the chairman in 1963.

During his career he has also been Chairman of Bombay Chamber of Commerce and Industry (1966–67), President of ASSOCHAM (1969–70), Chairman of theIndian Institute of Management Ahmedabad(1975–85); Member of the Foundation Board –International Institute for Management Development(1984–89).

His awards include: Companion – British Institute of Management (1985), Chevalier de la Légion d'honneur (1987), Business India – Businessman of the Year (1989), Honorary Fellowship of All India Management Association (1990), Institute of Company Secretaries of India (ICSI) Lifetime Achievement Award for Excellence in Corporate Governance (2004), Lakshya Business Visionary Award – NITIE (2006), ICFAI Business School (IBS) Kolkata Lifetime Achievement Award presented by the Institute of Chartered Financial Analysts of India (ICFAI) (2007).[22]

At the time of theBhopal Disasterhe was managing director of Union Carbide India Ltd. (In 2010 he was charged and indicted for causing death due to negligence and sentenced to 2 years' imprisonment and Rs 1 Lakh fine.) He was granted bail shortly after being sentenced.[23] [24]

Anand Mahindrais chairman and managing director of Mahindra & Mahindra. He graduated fromHarvard Universityand earned his MBA fromHarvard Business Schoolin 1981.[25]He joined the Mahindra Group in 1981 as an Executive Assistant to the Finance Director of the Mahindra Ugine Steel Company.[26]

See also

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References

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  1. ^"About Us".
  2. ^"Corporate overview".Retrieved9 August2010.
  3. ^"India's Most Reputable Companies".Forbes.20 November 2006.Retrieved9 August2010.
  4. ^"BSE Sensex little changed; Reliance disappoints".In.reuters. 27 July 2009. Archived fromthe originalon 29 July 2009.Retrieved9 August2010.
  5. ^"Mahindra Corporate".Mahindra.Retrieved9 August2010.
  6. ^Oconnor, Ashling (18 June 2007)."Time to put Indias new business challenge on the road".The Times.London. Archived fromthe originalon 12 June 2011.Retrieved12 May2010.
  7. ^"Putt-Putt Tractors, Revved-Up Goals".Forbes.27 October 2006. Archived fromthe originalon 25 October 2012.Retrieved9 August2010.
  8. ^"The Hindu Business Line: Resurgent India strikes back with confidence".Blonnet. 26 April 2006. Archived fromthe originalon 28 May 2006.Retrieved9 August2010.
  9. ^"The 20 Largest Companies in India".Rediff.10 December 2010.Retrieved18 February2011.
  10. ^"World's Most Reputable Companies: The Rankings".Forbes.6 May 2009.Retrieved18 February2011.
  11. ^"Mahindra & Mahindra to use 'Rise' as new brand positioning".Economic Times.17 January 2011.Retrieved18 February2011.
  12. ^"Tata Motors places bid for Saab Automobile: Report – The Times of India".Timesofindia.indiatimes. 6 March 2012.Retrieved8 October2012.
  13. ^"- Moneycontrol".17 December 2007.
  14. ^"Tech Mahindra launches foundation".The Hindu.14 June 2007. Archived fromthe originalon 16 September 2007.
  15. ^Project Nahni Kali Official WebsiteArchived13 April 2009 at theWayback Machine
  16. ^"Education".Mahindra.Retrieved8 October2012.
  17. ^ab"- Moneycontrol".3 October 2007.
  18. ^"Nanhi Kali::".
  19. ^"how-we-help".Mahindra.Retrieved8 October2012.
  20. ^"Alternative content".Mahindra Blues.Retrieved8 October2012.
  21. ^"how-we-help".Mahindra.Retrieved8 October2012.
  22. ^"Mahindra Corporate".Mahindra.Retrieved9 August2010.
  23. ^"Eight convicted over Bhopal gas disaster – ABC News (Australian Broadcasting Corporation)".Abc.net.au. 7 June 2010.Retrieved9 August2010.
  24. ^"UPDATE 2-Ex-Union Carbide officials jailed over Bhopal leak".Reuters. 7 June 2010.Retrieved9 August2010.
  25. ^"Harvard Humanities 2.0".Harvard Gazette.5 October 2010.
  26. ^"Anand Mahindra".Mahindra.Retrieved8 October2012.
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