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 and Mahindra Limited, opened the company's 80th AGM by describing the global economic environment as a 'samudra mantan' (great churning), where India and Mahindra have succeeded by extracting 'amrit' (nectar) from the 'poison' of uncertainty. He noted that India is becoming a 'connector economy', positioning itself as a trusted, multi-aligned partner as globalization shifts to selective alliances. Mahindra cited that roughly a quarter of iPhones are now made in India, signaling the country's rising manufacturing role. He highlighted Mahindra's record financial results, the new IQ platform, and patent growth from 56 to over 1,300 in a decade. He announced a prospective investment of ₹15,000 crore over 10 years in Nagpur. Mahindra urged a shift from 'navigation to acceleration', using a Formula E racing metaphor to advocate for 'attack mode': strategic acceleration through uncertainty, backed by preparation and execution.
Key takeaways
India now manufactures approximately a quarter of all iPhones, signaling a shift in global manufacturing.
Mahindra's patents granted jumped from 56 to over 1,300 in the past decade.
Mahindra announced a ₹15,000 crore investment over 10 years in Nagpur, one of its largest prospective investments.
Mahindra advocates an 'attack mode' strategy, using Formula E racing as a model for accelerating strategically through uncertainty.
India should position itself as a 'connector economy', being multi-aligned rather than non-aligned in global partnerships.
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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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Heat. Hey, heat. Hey, heat. 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, Ms. 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, Ms. Nisaba Godridge and Ms. 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 Sha, executive director and CEO auto and farm sector Mr. Rajes Jajurikar. Ms. 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. Ms. Akriti Sha, 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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