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Mahindra & Mahindra Limited

From Wikipedia, the free encyclopedia

This article is about the company. For the entire conglomerate, see Mahindra Group. For
other uses, see Mahindra (disambiguation).

Mahindra & Mahindra Limited

Type Public (BSE: 500520)

Industry Automotive

Farm Equipment

Founded 1945

Headquarters Mumbai, Maharashtra, India

Key people Keshub Mahindra, Chairman; Anand Mahindra, Vice

Chairman

Revenue   31,957.83 crore (US$7.09 billion)(2010).[1]

Net income   2,871.49 crore (US$637.47 million)(2010).[2]

Employees 16,000+[2]
 Parent Mahindra Group

Website Mahindra.com

Mahindra & Mahindra Limited (BSE: 500520) is the flagship company of the Mahindra

Group, a multinational conglomerate based in Mumbai, India. The company was set up in
1945 in Ludhiana as Mahindra & Mohammed by brothers K.C. Mahindra and J.C. Mahindra
and Malik Ghulam Mohammed.[3] After India gained independence and Pakistan was
formed, Mohammed emigrated to Pakistan where he became the nation's first finance
minister. The company changed its name to Mahindra & Mahindra in 1948. [4]
 Contents

 [hide]

1 History

2 Automotive

3 Farm Equipment

4 Banking & Finance

5 Information Technology

6 Club Mahindra Holidays

7 Mahindra Defence

8 Mahindra Aerospace

9 Infrastructure & Real

Estate

10 Agriculture Farm

Components

11 Healthcare

12 Awards

13 Models

14 Notes

15 References

16 External links

[edit]History

Mahindra & Mahindra was set up as a steel trading company in 1945. It soon expanded into
manufacturing general-purpose utility vehicles, starting with assembly under licence of the
iconic Willys Jeep in India. Soon established as the Jeep manufacturers of India, M&M later
branched out into the manufacture of light commercial vehicles (LCVs) and
agricultural tractors. Today, M&M is the leader in the utility vehicle segment in India with its
flagship UV Scorpio and enjoys a growing global market presence in both the automotive
and tractor businesses.

Over the past few years, M&M has expanded into new industries and geographies. They
entered into the two-wheeler segment by taking over Kinetic Motors in India. [5] M&M also
has controlling stake in REVA Electric Car Company[6] and acquired South
Korea's SsangYong Motor Company in 2011.[7]
The US based Reputation Institute recently ranked Mahindra among the top 10 Indian
companies in its 'Global 200: The World's Best Corporate Reputations' list. [8]

[edit]Automotive

Mahindra Scorpio First Generation

File:Mahindra Bilebao- 08 Marzo 30.jpg

Mahindra Scorpio Pick Up

Mahindra Jeep CJ 340

Mahindra AXE
Mahindra Pick Up (old version)

Mahindra & Mahindra is a major automobile manufacturer of utility vehicles, passenger

cars, pickups, commercial vehicles, and two wheelers. Its tractors are sold on six continents
It has acquired plants in China[9] and the United Kingdom,[10] and has three assembly plants
in the USA. M&M has partnerships with international companies like Renault
SA, France[11] and International Truck and Engine Corporation, USA.

M&M has a global presence[12] and its products are exported to several countries. [13] Its
global subsidiaries include Mahindra Europe Srl. based in Italy, [14] Mahindra USA Inc.,
Mahindra South Africa[15] and Mahindra (China) Tractor Co. Ltd.

M&M made its entry into the passenger car segment with the Logan in April 2007 under the
Mahindra Renault joint venture.[16] M&M will make its maiden entry into the heavy trucks
segment with Mahindra Navistar, the joint venture with International Truck, USA.[17]

M&M's automotive division makes a wide range of vehicles including MUVs, LCVs and
three wheelers. It offers over 20 models including new generation multi-utility vehicles like
the Scorpio and the Bolero. It formerly had a joint venture with Ford called Ford India
Private Limited to build passenger cars.

At the 2008 Delhi Auto Show, Mahindra executives said the company is pursuing an
aggressive product expansion program that would see the launch of several new platforms
and vehicles over the next three years, including an entry-level SUV designed to seat five
passengers and powered by a small turbodiesel engine. [18] True to their word, Mahindra &
Mahindra launched the Mahindra Xylo in January 2009, and as of June 2009, the Xylo has
sold over 15000 units.[19]

Also in early 2008, Mahindra commenced its first overseas CKD operations with the launch
of the Mahindra Scorpio in Egypt,[20] in partnership with the Bavarian Auto Group. This was
soon followed by assembly facilities in Brazil. Vehicles assembled at the plant in Bramont,
Manaus, include Scorpio Pik Ups in single and double cab pick-up body styles as well
as SUVs.[21]

Mahindra & Mahindra has controlling stakes in Reva electric and has submitted letter of
Intent for South Korea's Ssangyong [22]

Mahindra plans to sell the diesel SUVs and pickup trucks starting in late 2010 in North
America[23] through an independent distributor, Global Vehicles USA, based inAlpharetta,
Georgia.[24] Mahindra announced it will import pickup trucks from India in knockdown kit
(CKD) form to circumvent the Chicken tax.[25] CKDs are complete vehicles that will be
assembled in the U.S. from kits of parts shipped in crates. [25] On 18 October 2010, however,
it was reported that Mahindra had indefinitely delayed the launch of vehicles into the North
American market, citing legal issues between it and Global Vehicles after Mahindra
retracted its contract with Global Vehicles earlier in 2010, due to a decision to sell the
vehicles directly to consumers instead of through Global Vehicles. [26]. However, a November
2010 report quoted John Perez, the CEO ofGlobal vehicles USA, as estimating that he
expects Mahindra’s small diesel pickups to go on sale in the U.S. by spring 2011, although
legal complications remain, and Perez, while hopeful, admits that arbitration could take
more than a year.[27] Later reports suggest that the delays may be due to an Manindra
scrapping the original model of the truck and replacing it with an upgraded one before
selling them to Americans[28]

In 2010, India's Mahindra & Mahindra Limited was named as the preferred bidder to acquire
the bankruptcy-protected SsangYong Motor Company.[2] Mahindra is expected to gain a
controlling stake in the company by March 2011 and the planned acquisition has been
approved by South Korea's Free Trade Commission[29]

 Mahindra Bolero
 Mahindra Bolero Camper
 Mahindra Bolero Inspira
 Mahindra Bolero Stinger Concept
 Mahindra Scorpio
 Mahindra Scorpio Getaway
 Mahindra Scorpio First
 Mahindra Xylo
 Mahindra Legend
 Mahindra MM550 XD
 Mahindra-Renault Logan (in cooperation with Renault)[30]
 Mahindra Axe
 Mahindra Major
 Mahindra Souvenir Concept
 Mahindra Commander
 Mahindra DI
 Mahindra Cab Chassis[31]

[edit]Farm Equipment
M&M is one of the leading tractor brands in the world by volume. It is also the largest
manufacturer of tractors in India [32] with sustained market leadership of over 25 years. It
designs, develops, manufactures, and markets tractors as well as farm
implements. Mahindra Tractors(China) Co. Ltd. manufactures tractors for the growing
Chinese market and is a hub for tractor exports to the USA and other nations. M&M has a
100% subsidiary, Mahindra USA, which assembles products for the American market.

[edit]Banking & Finance

 Kotak Mahindra Bank

The Kotak Mahindra group is a financial organization established in 1985 in India. It was
previously known as the Kotak Mahindra Finance Limited, a non-banking financial
company. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company
was given the license to carry on banking business by the Reserve Bank of India (RBI).
Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to
a bank. The bank is headed by K.M. Gherda as Chairman and Uday Kotak as Executive
Vice Chairman & Managing Director. Shankar Acharya is the chairman of board of Directors
in the company. The Bank has its registered office at Nariman Bhavan, Nariman Point,
Mumbai.

 Mahindra Financial Services

Mahindra & Mahindra Financial Services Ltd (Mahindra Finance) is one of 's leading non-
banking finance companies focused on providing finance for utility vehicles, tractors and
cars in the rural and semi-urban sector. Mahindra Finance currently has the largest network
of over 436 branches . It has entered into more than 600,000 customer contracts and has
disbursements of around Rs. 21000crore since inception.

[edit]Information Technology

 Tech Mahindra
Tech Mahindra specializes in solutions for communications industry is a telecom-focused
system integration and IT solutions company from India.

 Mahindra Satyam
Mahindra Satyam is a leading global business and information technology services
company

 Bristlecone
It provides a range of services focused on the entire supply chain spectrum, including
strategy and process consulting, systems implementation and business process
outsourcing, to leading companies globally. mahindra is generaaly a low base company it
gets his roots from the asian companies

[edit]Club Mahindra Holidays

Mahindra Holidays commenced its operations in 1996, offering family lifestyle holidays in
India and abroad, though a vacation ownership product. The company is a Business
Superbrand '08 and its brand Club Mahindra, a consumer validated Superbrand '09.

[edit]Mahindra Defence

 Mahindra Special Services

Mahindra Special Services Group was established in 2001 as a separate division under
Mahindra & Mahindra and since then has been a leading player in the field of information
security. Mahindra Special Services Group helps organisations retain and enhance
competitive advantage through information security & de-risking strategies.

 Mahindra Defence Systems

Mahindra Defence Systems belongs to the Specialty Businesses of the Mahindra Group.
Mahindra Defence Systems oversees the requirements of India's defence and security
forces
[edit]Mahindra Aerospace
Main article: Mahindra Aerospace

It is the first Indian private firm to make smaller civil aircraft for the Indian general aviation
market.[33]

 Gippsland Aeronautics
 Aerostaff Australia
[edit]Infrastructure & Real Estate
A pioneer of Special Economic Zones (SEZ) in India, Mahindra World City has the
distinction of creating India’s first Integrated Business City and also Corporate India’s
first operational Special Economic Zone.

[edit]Agriculture Farm Components

Mahindra for long has been into farm implements but recently it took its implement
business to new levels by making a separate division for it named 'APPLITRAC'. As a
matter of fact Mahindra Applitrac will be first organised farm implement manufacturer in
the country.Mahindra plans to take farm mechanization in India to all new levels by
offering complete crop specific crop solution . some of the crop specific implements
introdeced by mahindra recently in Indian market are: Rice transplanter for paddy.
Sickle sword and cane thumper for sugarcane. besides their are a range of other
implements including Combine Harversters,baler,rotavators and seed drills. Mahindra
have also launched its range of construction implements which includes loader,dozer
and back hoe.

[edit]Healthcare

[edit]Awards

1. Bombay Chamber Good Corporate Citizen Award for 2006-07 [34]

2. Businessworld FICCI-SEDF Corporate Social Responsibility Award – 2007
3. Deming Prize [35]
4. Japan Quality Medal in 2007[36]
[edit]

trStrategy For Overall Overhaul At Mahindra & Mahindra

In all businesses today, aligning human resource management with business strategy has become
an important element to succeed. And Mahindra & Mahindra group is no different. Organisational
restructuring, managing key resource requirements, performance management systems, career and
succession planning have all been re-aligned to form synergy with the company’s overall business
strategy.

A Choudhari, executive vice president, human resources & corporate services, Mahindra &
Mahindra group told FE that the re-alignment was necessitated by changing dynamics in the
business environment. He said that the objective was to grow leadership positions in the UV and
tractor market and developing successful businesses in relatively new business areas like IT,
financial services, realty and infrastructure development and also service industries like Time share
(Club Mahindra). “Keeping in mind the new business objectives the challenge was to re-orient the
human resource management towards these objectives,” said Mr Choudhari.

Organisational Restructuring
For the group, organisational restructuring posed the greatest challenge keeping in mind the
changing dynamics in the business especially the tractor and automotive division. In the last three
years, the emphasis was development of the long term strategy and fixing clear business goals.
Taking the example of tractors, the long term goal was to be the largest manufacturer in the world.
Thus the process began by changing internal benchmarks of excellence to global standards.
Benchmarking all business processes from product development to customer care and commercial
controls to JUSA (Japanese Union of Scientists and Engineers) was implemented.

“We are targeting the Deming award through these initiatives, which encompass the entire gamut of
function of the company including the HR function and similarly the automobiles business is
targeting the TPM award from the Japanese Institute of Plant Management,” said Mr Choudhari.

To achieve these objectives the company began a full reassessment of organisation and
management structure with the help of consultants like Mckinsey’s, Arthur Anderson and Korn Ferry.
The outcome was, clear roles and responsibilities were identified and the competency required for
each role was mapped. The officers went through individual assessments of competencies against
the requirement of each role. External consultants as well as internal assessors ran assessment
centres and each individual was then placed based on competency and role fitment.

The restructuring also led to the pruning of the staff. In 2001, there were 3970 officers in 13 grades
and levels which was brought down to 3400 officers in five responsibilities namely strategic,
executive, department/unit head, managerial and operational in 2003. This organisational
restructuring based on business needs was later extended to smaller businesses in the group. For
example, Mahindra Engineering services has recently been established by combining key
engineering and design resources from the Tractors and Automotive division. ”Given the numbers
involved the challenge was to manage expectations, feeling of threat that is intrinsic to such an
exercise, communications and counselling. HR function played an important role as it led the
exercise with co-opera/tion from all line managers,” explained Mr Choudhari.
Managing Key Resource Requirements
The reassessment of organisational requirements brought in gaps in terms of management
resources. While many of the roles were filled through internal promotions and parallel moves,
certain gaps like inability of the senior management to fit in the role due to the rapidly changing
business environment emerged. Therefore the company began inducting senior management
resources from diverse companies like Xerox, Marico, Enron, Hindustan lever Ltd as well as from
engineering, tractor and automobile sectors. This enabled the company to induct a talent pool with
rich background which was suitable to the changing business requirements of the group.

Also in order to bring in young talent keeping in mind the long term objectives, the group has started
a formal Management Trainee Scheme through campus recruitments. The move threw up an
interesting observation, that of acceptability of young blood working initially at operational level jobs
with older experienced people. To avoid the feeling of animosity and in order to build comaraderie,
the group has put in place a Mentoring system, where each management trainee has a senior
executive who plays the role of mentor. The mentor reviews the progress made by the trainee every
two-three months and provides guidance and counselling if the need so arises. Further in order to
encourage existing management resources to seek internal opportunities beyond their immediate
business group, a formal internal advertisement has been established, which puts up vacancies on
the Mahindra intranet.

Management Development
Management development like any other company has also emerged as a special area of focus at
the Mahindra group. The need to enhance internal talent and leadership potential was felt keeping in
mind the changing business scenario. Allen Seqeuira, vice president, corporate human resources
and management development, Mahindra & Mahindra group said that the thrust is on building
leadership development at middle and senior management levels and this objective is being met
through a series of initiatives at all levels including the top management, where the emphasis is on
strategy, leadership and change.

Mr Seqeuira explained that a three tier approach is in place to develop the capabilities of the
management. The management development have been structured to meet the needs at each
responsibility band of management, said Mr Seqeuira. So, if the emphasis in the top management is
on strategy, leadership and change, for the strategic and executive management band, the focus is
on team building, people skills, understanding and managing technology and financial and marketing
orientation. Similarly for department and unit head manage- ment band, the emphasis is on general
management skills, managerial and personal effectiveness and multi functional understanding.

Apart from the in house management development programme, the group also utilises selective
outside programmes for high potential managers. These include management programmes run by
Harvard Business School, London Business School and India School of Business - Hyderabad. “The
idea is to take the management development programme to the lowest level of the hierarchy to bring
out the leadership potential, which is extremely crucial for the company’s growth as it moves ahead,”
said Mr Seqeuira.
Managing Succession
A key HR function at Mahindra group is the career and succession planning. The objective of this
function is to chart out a detailed career path of each individual at the senior most levels. The career
path taps both the strengths and weaknesses and aspiration of each individual executive.

The detailed career planning also leads to identification of incumbents as successor to a specific
responsibility.

“What we try to do,through our succession planning is the early identification of potential successors
and both formally and informally, begin to provide expanded responsibilities so that there is an on-
the-job development of a larger perspective and understanding,” elaborated Mr Choudhari