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Results Accelerates Alternative Accelerates Results S U S T A I N A B I L I T Y R E V I E W 2 0 1 1 - 1 2 Alternative Thinking has helped us achieve more in less. Enabled us to rise above set standards and set new ones. It propelled us to overcome the gravity of the macro-economic and the micro-economic factors and soar higher through innovations in products and processes. Alternative Thinking empowered teams and accelerated achievements. It has sharpened our competitive edge by helping us forge stronger bonds with environment and society. In a nutshell, at Mahindra, Alternative Thinking has established itself as the proven direction to grow: Faster Higher Stronger In today's world when ideas and opportunities circle the globe at the speed of light, alternative thinking assists us to spot trends and big opportunities before they become obvious to everyone; to make decisions without delay; to execute quickly at every level; and to anticipate emerging needs of the marketplace. But speed isn't about being frazzled and out of breath. Speed is the Alternative Thinking natural condition. Every minute we has helped us traverse can take out of manufacturing time, our 5-year Sustainability stocking time, get-to-market time Roadmap in just 3-years. and customer response time; saves and creates value and wealth. It is helping us gain rst mover advantage in While our rst roadmap had many sunrise areas. humble goals, these encouraging results have inspired us to set more aggressive sustainability targets in Faster our forthcoming roadmap. 1 2 3 4 5 While the target was 10 certications the on-ground results were 30 certications. While the target was to reduce specic energy consumption by 2% in three years and 5% in ve, we clocked an impressive 17.13% at the end of the third. Similar success was chalked up in water consumption with a 13.45% reduction in three years against targets of 2% in three years and 5% in ve. Alternative thinking has instilled in us the condence to aim and Alternative Thinking achieve higher. No more do we aspire has helped us raise to achieve targets, we strive to surpass the bar and over- them. And thanks to Alternative achieve most goals set Thinking, when we breast the tape in our roadmap. we emerge inspired not tired. The congruence of generating economic, social and environmental wealth has lent higher purpose to Higher each member of Mahindra. 1 2 3 4 5 Over this ve year sustainability journey powered by the engine of Alternative Thinking, we have ingrained resource efciency as a top business priority. We have nurtured and helped blossom an innate ability to transform challenges into opportunities and forged stronger bonds not Alternative Thinking only with our customers and has helped us build a shareholders but also with the environment and society. strong, resilient and robust organisation The uninching belief in our ready to take on the core values, our unrelenting challenges of the future. commitment to social empowerment and unwavering practice of sound governance has Stronger made us a stronger organisation. 1 2 3 4 5 INDEX MESSAGE FROM CHAIRMAN & MANAGING DIRECTOR 01 MESSAGE FROM CHAIRMAN, GROUP SUSTAINABILITY COUNCIL 03 REPORTING PROCESS 05 GROUP PROFILE 10 SUSTAINABILITY AND US 37 DRIVEN BY OUR PEOPLE 47 PRODUCT PERFORMANCE 63 ECONOMIC PERFORMANCE 79 ENVIRONMENTAL PERFORMANCE 89 SOCIAL PERFORMANCE 120 ANNEXURES 149 Message from Chairman & Managing Director 5th Sustainability Report 2011-12 It gives me great pleasure to report that in four out of seven commitments, we have passed the five year goals in three years time. To me, this underlines our commitment to improve our environmental and social responsibilities Since its inception, the Mahindra Group Sustainability Report has always begun as we grow. with a message from Mr. Keshub Mahindra. On his retirement as Non-executive Director this year, I would like to pay tribute to his unflinching commitment to a sustainable future and the glorious heritage he has bequeathed us of dedication towards the principles of strong corporate governance, good corporate citizenship and impeccable values. These will stand us in good stead while pursuing our aspiration to become a globally admired brand by 2021. 01 In 2008-09, we had created a Sustainability Roadmap for each Lastly, I must touch upon the RISE of the businesses covered in the Sustainability Report in that philosophy that we articulated last year - year. This roadmap articulated goals over 3 and 5 year time our promise to touch the lives of all our horizons, with seven commitments. It gives me great pleasure stakeholders and the communities at large. to report that in four out of seven commitments, we have It is inspiring and fulfilling to see the way passed the five year goals in three years time. To me, this this idea has caught the imagination of so underlines our commitment to improve our environmental many people. Not only has it ignited and social responsibilities as we grow. internal business transformation among our employees, it has also inspired people It is no surprise therefore that the year 2011-12 has been yet across all walks of life, especially the another year of achievement on all aspects of the triple bottom younger generation, to take up new line. Our profits were creditable, with the Group PAT rising challenges and translate their inner dreams from INR 38,172.83 million to INR 54,103 million. More into action. The 'Spark the Rise' campaign importantly, we also devoted time, resources and energy launched during the year, showed an towards the planet and the people. overwhelming response from over 267,648 people who were eager to connect and act, On the environment front, our foray in renewable energy and recorded 1,470 projects wherein materialised, as Mahindra Solar One commissioned its first people made commitments to take 5 MW solar power plant, as a part of the Jawaharlal Nehru responsibility for a better future of National Solar Mission. This project holds the distinction of communities. generating the highest output per MW of any solar plant in India. This is a small beginning that reiterates our belief that The international business environment, creating shared value for communities and corporates is the the global climate and the social weather way of the future. across the world are currently throwing up significant challenges and businesses will On the product front, the global debut of the XUV5OO was a have to adopt new paradigms if they hope resounding success. This product is not only chic and beautifully to continue to thrive in the times to come. designed but fuel-friendly, in accordance with our emphasis on At the Mahindra Group, powered by sustainability. Our commitment to inclusive growth and Alternative Thinking, we will continue to delivering Farm-Tech Prosperity was further strengthened see change as an opportunity. The best is through a variety of new agri-initiatives that impact the lives of yet to come. farmers, enabling them to RISE above their current realm of possibility. Our financial services expanded into products I would like to end by reiterating the designed specifically for rural financial inclusion. Our real promise made by Mr. Keshub Mahindra, in estate business is looking at making affordable and sustainable one of our earlier Sustainability Reports, housing, a priority area. And these are just a few high points of that we are committed to the cause of our our performance; many more are detailed in this report. people, our country and our planet. We will continue to live by the ethos and principles I believe this is only the beginning of our sustainability journey. of responsible business practices and we Our sustainability goals are not destinations - they are check thank all our stakeholders for supporting us posts that enable us to increase our efforts, to reinvest new in this endeavour. opportunities and to renew commitments for a better tomorrow. Our performance so far, will encourage us to set higher targets and to achieve faster sustainable growth. Anand Mahindra Chairman & Managing Director, Mahindra & Mahindra Limited 9th August, 2012 02 Message from Chairman, Group Sustainability Council 5th Sustainability Report 2011-12 This year we are proud to present a report card, which shows that we have successfully managed to cross the first important milestone in this journey - to have all our businesses commit to the principles of At Mahindra, we see sustainability as a competitive advantage. Since sustainability. we embarked on this journey in 2007-08, we have learnt a lot and have progressed from intentions to commitments to actions. The principles of sustainability have taken firm root in our businesses and by applying 'Alternative Thinking', we have enabled ourselves to accelerate results across the economic, social and environmental bottom lines. 03 Mahindra Group comprises many companies bound together by These approaches have also brought us a common purpose and core values. The businesses are diversified recognition from financial rating agencies across 18 key industry verticals spread across 5 continents and and technical experts in the area of climate nearly 100 countries. The challenge of adopting a unified change. During the year under review, approach that would suit all our businesses was addressed by Mahindra & Mahindra Limited was ranked creating a cohesive structure for defining common principles and No. 1 in the S&P CRISIL Sustainability Index management of the journey. Our Group Sustainability Council among the 50 best performing stocks in the developed a common set of commitments for businesses to chart Indian market as measured on the way forward. environmental, social and governance parameters. The Company also secured first The first approach was to commit to a roadmap with a seven- place in the Green Business Leadership point agenda.
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