"Audacity drives us, integrity defines us": Anand Mahindra reflects Mahindra Group's 2024 journey

“Audacity drives us, but integrity defines us,” - with these words, Anand Mahindra, chairman of the Mahindra Group, sets the tone for his year-end address to the Mahindra Family. He reflected on the Group's performance in 2024 and laid out a clear vision for the future.

2024 was marked by notable milestones and steady growth across Mahindra’s diverse business verticals. 

Highlighting the group’s financial achievements, Mahindra pointed out that among companies listed in the NIFTY50 in 2002, Mahindra & Mahindra achieved the highest compounded annual share price growth rate, with a 77% increase over the past year. 

The company also became the 11th most valuable automobile manufacturer globally, underscoring its growing influence on the world stage.

Sustainability remained a key focus, with Mahindra securing its place on the Dow Jones Sustainability Index’s World Index for the fourth consecutive year, ranking as the highest automotive OEM globally.

The group's various sectors delivered strong performances. Mahindra Susten exceeded expectations with a cumulative win pipeline of 3.3GWp, while Mahindra Lifespace Developers continued to expand with sustainable urban projects. Last Mile Mobility maintained its leadership in India’s electric three-wheeler market, addressing growing urban transportation needs.

In financial services, Mahindra Finance surpassed a loan book value of  Rs 1.1 lakh crore, while the Tractor division solidified its market dominance amid fierce competition. Tech Mahindra, meanwhile, advanced its growth agenda, focusing on digital transformation and innovation.

The Automotive division emerged as a standout performer with the launch of two premium electric vehicles (EVs), BE 6 and XEV 9E. These vehicles captured market interest with their design, technology, and performance, exceeding the company’s expectations, he claimed

Anand Mahindra described this achievement as a bold move in an uncertain market: “It takes audacity for a traditional SUV company to make a big bet on the future of electric vehicles. It takes audacity to explore fresh, bold styling and to commit deeply to innovation.”

While reflecting on these successes, Anand Mahindra emphasized that integrity remains the foundation of the Group. Financial achievements, he stressed, are only meaningful when backed by strong ethics and values.

Shifting focus to the global landscape, Mahindra expressed confidence in India’s resilience amid geopolitical uncertainties. He highlighted the country's political stability, economic strength, and rising influence in global supply chains, suggesting that India is positioned to weather global challenges better than most nations.

He concluded with a reflection on the Cambridge Dictionary’s Word of the Year: “Manifest,” interpreting it as the act of visualizing aspirations and bringing them into reality. He remarked, “2024 has shown our ability to convert vision into reality. May this spirit guide us forward.”

Looking ahead to 2025, the Mahindra Group remains focused on audacity, innovation, and integrity. It is ready to tackle challenges and embrace opportunities in a fast-changing world. With clarity of purpose and a commitment to sustainable growth, the Group stands poised to continue its journey forward declared Mahindra.