Mahindra Group

Last updated

Mahindra Group
Type Private
Industry Conglomerate
Founded2 October 1945;78 years ago (1945-10-02)
Founder
Headquarters Mumbai, Maharashtra, India
Area served
 Worldwide
Key people
Products
RevenueIncrease2.svgUS$19 billion (2022)
Owner Anand Mahindra
Number of employees
260,000+ (2022) [1]
Subsidiaries
Website www.mahindra.com

Mahindra Group is an Indian multinational conglomerate, headquartered in Mumbai. The group has operations in over 100 countries, with a presence in aerospace, agribusiness, aftermarket automotive components, construction equipment, defence, energy, farm equipment, finance and insurance, industrial equipment, information technology, leisure and hospitality, logistics, real estate, retail and education. [2] The group's flagship company Mahindra & Mahindra has market leadership in utility vehicles [3] as well as tractors in India.

Contents

History

Mahindra & Mahindra was incorporated as Mahindra & Mohammed in 1945 by the brothers J. C. Mahindra and K. C. Mahindra, and Malik Ghulam Muhammad in Ludhiana, Punjab to trade steel. Following the Partition of India in 1947, Malik Ghulam Muhammad left the company and emigrated to Pakistan, where he became the first finance minister of the new state (and later the third Governor General in 1951). In 1948, K. C. Mahindra changed the company's name to Mahindra & Mahindra.

Building on their expertise in the steel industry, the Mahindra brothers began trading steel with UK suppliers. They won a contract to manufacture Willys Jeeps in India and began producing them in 1947. By 1956, the company was listed on the Bombay Stock Exchange, and by 1969 the company became an exporter of utility vehicles and spare parts. [4] Like many Indian companies, Mahindra responded to the restrictions of the Licence Raj by expanding into other industries. Mahindra & Mahindra created a tractor division in 1982 and a tech division (now Tech Mahindra) in 1986. It has continued to diversify its operations through both joint ventures and greenfield investments. [5]

By 1994, the group had become so diverse that it undertook a fundamental reorganization, dividing into six Strategic Business Units: Automotive; Farm Equipment; Infrastructure; Trade and Financial services; Information Technology; and Automotive Components (known internally as Systech). [6] The new managing director, Anand Mahindra, followed this reorganization with a new logo in 2000 and the successful launch of the Mahindra Scorpio (a wholly indigenously designed vehicle) in 2002. Along with an overhaul in production and manufacturing methods, these changes helped make the company more competitive, [7] and since then the Group's reputation and revenues have risen noticeably. Currently, Mahindra & Mahindra is one of the 20 largest companies in India [8] In 2009, Forbes ranked Mahindra among the top 200 most reputable companies in the world. [9]

In January 2011, the Mahindra Group launched a new corporate brand, Mahindra Rise, to unify Mahindra's image across industries and geographies. [10] The brand positions Mahindra products and services as aspirational, supporting customers' ambitions to 'Rise.'

In April 2012, the Mahindra Group expressed interest in purchasing the bankrupt automobile company Saab, and placed several bids for Saab, though was outbid by Saab's new owner National Electric Vehicle Sweden. [11]

Affiliated companies

  • Mahindra FirstChoice Services
  • Mahindra First Choice Wheels
  • Mahindra Agribusiness Division
  • EPC Mahindra
  • Engines Engineering
  • Mahindra Castings
  • Mahindra Composites
  • Mahindra Engineering
  • Mahindra Gears and Transmissions
  • Mahindra Forgings
  • Mahindra Hinoday Ltd
  • Mahindra Intertrade
  • Mahindra Sona Ltd.
  • Mahindra Steel Service Centre
  • Mahindra Systech
  • Mahindra Ugine Steel
  • Metalcastello S.p.A.
  • Mahindra Integrated Business Solutions
  • Mahindra Consulting Engineers
  • Mahindra Logisoft
  • Mahindra Special Services Group
  • Mahindra Conveyor Systems
  • Mahindra Logistics
  • Smart Shift
  • Mahindra Marine Private Limited
  • M2ALL
  • Mahindra Retail

Community initiatives

The Mahindra Group is extensively involved in philanthropy and volunteering. It is considered an active participant in the Indian Corporate Social Responsibility field and received the Pegasus Award for CSR in 2007. [13] Mahindra engages in philanthropy primarily through the KC Mahindra Trust, which serves as the CSR arm of the group (although many subsidiaries have their own CSR initiatives, notably Tech Mahindra and Mahindra Satyam). [14] Founded in 1953 by K.C Mahindra, the trust focuses primarily on fostering literacy in India and promoting higher learning through grants and scholarships. [15] Mahindra operates several vocational schools as well as the Mahindra United World College. [16] The KC Mahindra Trust's primary project however is Project Nanhi Kali, which targets the education of young Indian girls. [17] The foundation currently supports the education of approximately 153,190 underprivileged girls. [18] Other initiatives include Mahindra Hariyali (a 1 million tree planting campaign) [17] as well as sponsorship of the Lifeline Express, a mobile hospital train. Mahindra employees also plan and lead their own service projects through Mahindra's Employee Social Options Plans. In 2009, more than 35,000 employees participated. [19]

The Mahindra Group was responsible for the creation of Mahindra United World College, a UWC campus located in Pune.

Mahindra supports the Mahindra Excellence in Theatre Awards to recognize Indian theater talent, the Mahindra Indo-American Film Festival, and the Mahindra Lucknow Festival. In 2011, it held the first annual Mahindra Blues Festival with guests including Buddy Guy, Johnny Lang, and Shemekia Copeland at the Mehboob Studios in Mumbai. [20] Mahindra partners with the NBA and Celtic Football Club to bring grassroots basketball and football to India. [21]

Leadership

Keshub Mahindra was the Chairman Emeritus of Mahindra & Mahindra and a graduate of Wharton Business School, University of Pennsylvania, USA. He joined the company in 1947 and became the chairman in 1963.

During his career he has also been Chairman of Bombay Chamber of Commerce and Industry (1966–67), President of ASSOCHAM (1969–70), Chairman of the Indian Institute of Management Ahmedabad (1975–85); Member of the Foundation Board – International Institute for Management Development (1984–89).

His awards include: Companion – British Institute of Management (1985), Chevalier de la Légion d'honneur (1987), Business India – Businessman of the Year (1989), Honorary Fellowship of All India Management Association (1990), Institute of Company Secretaries of India (ICSI) Lifetime Achievement Award for Excellence in Corporate Governance (2004), Lakshya Business Visionary Award – NITIE (2006), ICFAI Business School (IBS) Kolkata Lifetime Achievement Award presented by the Institute of Chartered Financial Analysts of India (ICFAI) (2007). [22]

At the time of the Bhopal Disaster he was managing director of Union Carbide India Ltd. (In 2010 he was charged and indicted for causing death due to negligence and sentenced to 2 years' imprisonment and Rs 1 Lakh fine.) He was granted bail shortly after being sentenced. [23] [24]

Anand Mahindra is chairman and managing director of Mahindra & Mahindra. He graduated from Harvard University and earned his MBA from Harvard Business School in 1981. [25] He joined the Mahindra Group in 1981 as an Executive Assistant to the Finance Director of the Mahindra Ugine Steel Company. [26]

See also

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References

  1. ↑ "Corporate overview" . Retrieved 9 August 2010.
  2. ↑ "India's Most Reputable Companies". Forbes.com. 20 November 2006. Retrieved 9 August 2010.
  3. ↑ "BSE Sensex little changed; Reliance disappoints | Reuters". In.reuters.com. 27 July 2009. Retrieved 9 August 2010.
  4. ↑ "Mahindra Corporate". Mahindra.com. Retrieved 9 August 2010.
  5. ↑ Oconnor, Ashling (18 June 2007). "Time to put Indias new business challenge on the road". The Times. London. Retrieved 12 May 2010.
  6. ↑ "Putt-Putt Tractors, Revved-Up Goals". Forbes.com. 27 October 2006. Archived from the original on 25 October 2012. Retrieved 9 August 2010.
  7. ↑ "The Hindu Business Line : Resurgent India strikes back with confidence". Blonnet.com. 26 April 2006. Archived from the original on 28 May 2006. Retrieved 9 August 2010.
  8. ↑ "The 20 Largest Companies in India". Rediff.com. 10 December 2010. Retrieved 18 February 2011.
  9. ↑ "World's Most Reputable Companies: The Rankings". Forbes.com. 6 May 2009. Retrieved 18 February 2011.
  10. ↑ "Mahindra & Mahindra to use 'Rise' as new brand positioning". Economic Times. 17 January 2011. Retrieved 18 February 2011.
  11. ↑ "Tata Motors places bid for Saab Automobile: Report – The Times of India". Timesofindia.indiatimes.com. 6 March 2012. Retrieved 8 October 2012.
  12. ↑ "Sebi grants license to Mahindra Mutual Fund". The Times of India.
  13. ↑ "- Moneycontrol.com". 17 December 2007.
  14. ↑ "Tech Mahindra launches foundation". The Hindu . 14 June 2007. Archived from the original on 16 September 2007.
  15. ↑ Project Nahni Kali Official Website Archived 13 April 2009 at the Wayback Machine
  16. ↑ "Education". Mahindra.com. Retrieved 8 October 2012.
  17. 1 2 "- Moneycontrol.com". 3 October 2007.
  18. ↑ "Nanhi Kali ::".
  19. ↑ "how-we-help". Mahindra.com. Retrieved 8 October 2012.
  20. ↑ "Alternative content". Mahindra Blues. Retrieved 8 October 2012.
  21. ↑ "how-we-help". Mahindra.com. Retrieved 8 October 2012.
  22. ↑ "Mahindra Corporate". Mahindra.com. Retrieved 9 August 2010.
  23. ↑ "Eight convicted over Bhopal gas disaster – ABC News (Australian Broadcasting Corporation)". Abc.net.au. 7 June 2010. Retrieved 9 August 2010.
  24. ↑ "UPDATE 2-Ex-Union Carbide officials jailed over Bhopal leak". Reuters. 7 June 2010. Retrieved 9 August 2010.
  25. ↑ "Harvard Humanities 2.0". Harvard Gazette. 5 October 2010.
  26. ↑ "Anand Mahindra". Mahindra.com. Retrieved 8 October 2012.
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