“It has been an incredible year on all dimensions,” Shah stated. “Our performance far surpassed our audacious goals. Together, we have turned challenges into opportunities and aspirations into accomplishments.”
Under Shah’s leadership, Mahindra Group accelerated its growth trajectory, achieving remarkable outcomes across its diverse portfolio. The company operates in sectors covering nearly 70% of India’s GDP, maintaining a balanced presence across auto, farm, and services. This equilibrium has significantly contributed to overall profitability.
Additionally, M&M stock price surged by 77% in 2024, outperforming Nifty50 and Sensex peers.
Shah attributed the success to Mahindra’s core principles: Purpose, People, and Customer Centricity. “At the heart of everything we do are our values and our RISE philosophy… driving positive change in the lives of our communities,” he said.
Looking to 2025, Shah urged employees to aim higher. “We will continue to lead with Purpose, to set audacious goals, and work with determination to achieve them,” he concluded, wishing employees and their families a prosperous new year.
Earlier, it was reported that Mahindra & Mahindra is among the companies set to receive incentives worth ₹246 crore for FY24, likely to be paid during the fourth quarter of the current fiscal, as claimed under the PLI scheme.
As of September 2024, the PLI scheme has already facilitated an investment of ₹20,715 crore in the sector, leading to incremental sales of ₹10,472 crore, as per a government official.
