Mahindra & Mahindra Ltd.

Mahindra Towers,
Dr. G. M. Bhosale Marg,
Worli, Mumbai 400 018 India

Tel: +91 22 2490 1441

Fax: +91 22 2490 0833
www.mahindra.com
REF:NS:SEC:
6th December, 2023

National Stock Exchange of India Limited BSE Limited

"Exchange Plaza", 5th Floor, Phiroze Jeejeebhoy Towers,
Plot No.C/1, G Block Dalal Street, Fort,
Bandra-Kurla Complex Mumbai 400001.
Bandra (East), Mumbai 400051.

Bourse de Luxembourg London Stock Exchange Plc

Societe de la Bourse de Luxembourg 10 Paternoster Square
Societe Anonyme/R.C.B. 6222, London EC4M 7LS.
B.P. 165, L-2011 Luxembourg.

Sub: SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015-

Additional Presentation for future Meeting(s) with Analyst/Institutional Investor

Please find attached the Additional Presentation which the Company would use for future
Investor Meeting(s), which is also available on the Website of the Company, at the Weblink:
https://www.mahindra.com/sites/default/files/2023-12/Additional-Presentation-deck-6-
Dec-2023.pdf

Kindly take the same on record.

Yours faithfully,
For MAHINDRA & MAHINDRA LIMITED
NARAYAN Digitally signed by
NARAYAN SHANKAR

SHANKAR Date: 2023.12.06

15:03:03 +05'30'

NARAYAN SHANKAR
COMPANY SECRETARY

Encl.: a/a

Regd. Office: Gateway Building, Apollo Bunder, Mumbai 400 001, India | Tel: +91 22 6897 5500 | Fax:
+91 22 22875485 | Email: group.communications@mahindra.com | mahindra.com |
CIN No. L65990MH1945PLC004558
Mahindra & Mahindra Limited

1
 MAHINDRA DNA

DIGNITY
ENTREPRENEURSHIP

ETHICS

DIVERSITY

MERITOCRACY

2
2
 OUR REFRESHED PURPOSE

Drive positive change in the

lives of our communities.
Only when we enable others
to rise will we rise.

#Together we rise
3
3
 H I S T O RY O F VA L U E C R E AT I O N

PAT Lens: History of value creation with accelerating trajectory

PAT* (Rs. Cr.) FY ’02- ‘23

3X in 2 years
CAGR

+75%
10,282
CAGR

-5%
CAGR
4,667
3,347^
+43%
66

FY02 FY14 FY21 FY23

4 * After Exceptional Items after Non-Controlling Interest

4 ^ PAT after EI for continuing operations 4
 S T R AT E G I C I M P E R AT I V E S

FY25 - 27
FY22 - 24
FY21
Deliver Scale
Capitalize on Market
Leadership
Pivot
Unlock full potential
Capital to growth
Allocation 5X growth challenge

Disciplined capital
allocation

18% RoE 15-20% EPS growth

5
5
 3 BLOCKBUSTER SUV LAUNCHES

THAR XUV 700 SCORPIO-N

53,000 bookings 50,000 bookings 100,000 bookings
in 30 DAYS in 3 HOURS in 30 MINUTES

6
ELECTRIC SUV – UPCOMING PORTFOLIO

7
 S U M M A RY … O U R A S P I R AT I O N

Deliver Scale Consistent delivery on commitments

ROE % Commitment
1 Leverage market leadership
19.9%
+6.1 pts
: Differentiated offering in SUVs
13.8%
: Leading product innovation
18%

2 Unlock full potential 0.3%

: Diversified portfolio & stable asset quality
FY19 FY20 FY23
: Grow new age offerings while executing well
EPS (INR)
92
3 Growth Gems 5X
~1.9X
49
15-20%

4 Disciplined Capital Allocation 1

FY19 FY20 FY23

8
8
THANK YOU

23
9 9
Appendix

10
 Mahindra Group Sustainability Mandate
Ambition: Global ESG Leader
Greening Ourselves
1. Net Zero on Scope 1+2
emissions (RE usage & energy
efficiency)
Net Zero on water and waste
2.
(reuse, reduce & recycle)
Adopting material circularity
3.
(reduce, recycle & green material)
Leading on Reporting & Incubator for Green
Disclosures Technology
Vision: Together we Rise for Planet Positive
Decarbonizing Our Industries
(addressing Scope 3)
4. Transition to green portfolio
(EVs in auto, LMM & Logistics;
Green Buildings & Resorts; Green
Energy - solar, hybrid, storage)
Supporting transition to net-
5.
zero supply chain (e.g.-
Logistics)
Industry circularity
6.
(e.g.- auto recycling)
Enablers
Leadership positioning
through Communication Climate Advocacy
Rejuvenating Nature
7. Promoting regenerative
agriculture (via improved farming
techniques)
Afforestation at scale
8.
(Hariyali program)
Biodiversity conservation
9. (impact assessment and
restoration)
Active voice for Practical capability
building Plan
11
 CAPITALIZE ON MARKET LEADERSHIP … AUTO & FARM

AUTO FARM

Leverage strong SUV brand portfolio Build a domestic fortress

Establish leadership on E SUVs Significantly grow international business

Build a CV Moat Pioneering technology leadership

Go global Scale Farm Machinery India exponentially

12
12
 UNLOCK FULL POTENTIAL … MAHINDRA FINANCE & TECH M

MAHINDRA FINANCE Tech Mahindra

Improve asset quality Drive 300 bps margin expansion

Digital transformation Lead the market and drive 5G proliferation

Growth through diversification Grow new age offerings

High-impact Ecosystem partnerships Drive synergy from portfolio companies

1. At consolidated level
13 2. SUV Revenue market share
3. Does not include M&A 13
 5X CHALLENGE = SIGNIFICANT VALUE CREATION

FY22 & FY23 – …and establishing growth gems

What does 5X mean?
Progress made so far
On track to achieve target

67% market share in 3W EV; IFC investment 3.7 Bn

Unlock OTPP investment to accelerate scale-up 1.5 Bn

Robust launch pipeline with 9 launches; 4000+ Crs GDV acquired 3.4 Bn

Customer & inventory adds, curated customer experience 3.3 Bn

Growth Gems

Growth
Mindset
Integrated logistics play with multiple acquisitions 1.6 Bn

Pivot to decarbonizing of Mobility and Energy > 1 Bn

Retail scale-up across multiple formats >1 Bn

Emerging New launches, distribution scale up and exports > 1 Bn

Preferred component supplier for Aerospace OEMs > 1 Bn

14 1. Closing value as of 31-March for corresponding years; 2. F20 Valuation based on rough estimate of Jeeto and 3 Wheelers ICE portfolio Total = ~17 Bn
14 Note: For FY20: $1 = INR 74.1; For FY23: $1 = INR 81.7