Anand Mahindra's address to shareholders at M&M's 80th AGM.
What Anand Mahindra said
Written from the verified transcript and checked against it. Every figure links to the moment it was said.
Anand Mahindra, chairman of Mahindra & Mahindra, opened the 80th AGM by welcoming shareholders and introducing directors. He reflected on the past year, describing the global situation as a 'samudra mantan' (great churning) and asserting that both India and the company had extracted 'amrit' (nectar) from it. He noted that India is gaining relevance in global manufacturing, citing that approximately a quarter of all iPhones are now made in India. He highlighted the company's achievements, including patents granted rising from 56 to over 1,300 in a decade, and a planned investment of 15,000 crores over 10 years in Nagpur. He acknowledged external recognition, such as being named outstanding company of the year at the India business leadership awards and listed among the world's top 50 companies by Time magazine. He warned of ongoing uncertainty, referencing West Asia events, and urged a shift to 'attack mode,' a strategic acceleration concept from Formula E racing, to navigate the fog of uncertainty.
Key takeaways
Patents granted to Mahindra & Mahindra have grown from 56 to over 1,300 in the last decade.
Mahindra announced a prospective investment of 15,000 crores over 10 years in Nagpur.
Approximately a quarter of all iPhones are now manufactured in India.
Mahindra was listed among the world's top 50 companies by Time magazine.
Mahindra was named outstanding company of the year at the India business leadership awards.
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Heat. Heat. There are no algorithms here. There are no set strategies that you follow and get complete outcomes. It's about people. It's about you. It's about what you set for yourself, what targets that you stretch for yourself to do. And then last year as all of you know we created an even more outrageous ambition more outrageous aspiration that in the next 10 years we would be one of the top 50 most admired brands in the world. Still sounds almost surreal but that's where we want to be.
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Good afternoon ladies and gentlemen. I want to welcome you all to the 80th annual general meeting of the shareholders of the company and it's my privilege to address all of you as chairman of Mahindra and Mahindra Limited. Since the requisite quorum is present through video conferencing for the annual general meeting, I as the chairman call the meeting to order. Now let me introduce the directors of your company. Lead independent director and chairperson of the governance nomination and remuneration committee and risk management committee. Miss Shikha Sharma chairman of the audit committee Mr. MP Vijay Kumar, chairman of the stakeholders relationship committee and the corporate social responsibility committee Mr. Mutaya Murugapan other independent directors Miss Nisaba Godridge and Miss Samina Hammed. non-executive non-independent directors Mr. Ranjan Pant Mr. Satpal Bhanu, nominee director from the LIC of India and wholetime directors group CEO and managing director Dr. Anish Shah, executive director and CEO auto and farm sector Mr. Rajes Jajurikar. Miss Padmashri Warrior, independent director of the company is unable to attend the annual general meeting today. Mr. Kusal Leheri, authorized representative from BSR and Company LLP, the statutory auditors. Miss Akriti Shah, authorized representative from Paric and Associates, the secretarial auditors and Mr. Duchan Dav partner, Mrs. DC Dav and Company, the cost auditor are also present at the meeting. Mr. Sesh Kumar Daga the company secretary of the company is also participating in the meeting through video conferencing. And now I would like to invite Sesh to take us through the regulatory matters and general instructions pertaining to this annual general meeting. Over to you Sesh.
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