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Mahindra Group

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Mahindra Group
Company typePrivate
IndustryConglomerate
Founded1945; 79 years ago (1945)
FounderJagdish Chandra Mahindra
Kailash Chandra Mahindra
Malik Ghulam Muhammad
HeadquartersMumbai, Maharashtra, India
Area served
Worldwide
Key people
Anand Mahindra (Chairman & MD)
Keshub Mahindra (Chairman emeritus)
ProductsAerospace
Aftermarket
Agribusiness
Automotive
Clean energy
Construction equipment
Consulting
Defense
Financial services
Hospitality
Industrial equipment
Information technology
Logistics
Real estate
Retail
Steel
RevenueIncrease US$17.8 billion (2016)[1]
Increase US$373 million (2009)[2]
Number of employees
200,000 (2015)[2]
SubsidiariesMahindra & Mahindra,
SsangYong Motors,
Mahindra Aerospace,
Mahindra Engineering Services (Merged with Tech Mahindra in 2014),
Mahindra & Mahindra Financial Services Limited,
Mahindra Gujarat
Mahindra Systech,
Tech Mahindra,
Mahindra Lifespace Developers,
Mahindra Ugine Steel Company
Mahindra First Choice Services
Mahindra Intertrade Limited
Websitewww.mahindra.com

The Mahindra Group is an Indian multinational conglomerate holding company headquartered at Mahindra Towers in Mumbai, India, with operations in over 100 countries around the globe. The group has 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 two wheelers. It is considered to be one of the most reputable Indian industrial houses[3] with market leadership in utility vehicles[4] as well as tractors in India.

History

Mahindra & Mohammed was incorporated 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 also 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 had entered the world market as an exporter of utility vehicles and spare parts.[5] 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 ever since through both joint ventures and greenfield investments.[6]

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).[7] 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. Together with an overhaul in production and manufacturing methods, these changes helped make the company more competitive,[8] and since then the Group's reputation and revenues have risen noticeably. Currently, Mahindra & Mahindra is one of the 20 largest companies in India[9] In 2009, Forbes ranked Mahindra among the top 200 most reputable companies in the world.[10]

In January 2011, the Mahindra Group launched a new corporate brand, Mahindra Rise, to unify Mahindra's image across industries and geographies.[11] The brand positions Mahindra products and services as aspirational, supporting customers' ambitions to 'Rise.'

In April 2012, the Mahindra Group showed interest in purchasing the bankrupt automobile company Saab, and actually placed several bids for Saab, though was outbid by Saab's new owner National Electric Vehicle Sweden.[12]

Major business ventures

  • Aerospace
  • Aftermarket
  • Mahindra First Choice Services
  • Mahindra First Choice Wheels
  • Agribusiness
  • Mahindra Agribusiness Division
  • EPC Mahindra
  • Automotive
  • Components
  • 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
  • Consulting
  • Mahindra Consulting Engineers
  • Mahindra Logisoft
  • Mahindra Special Services Group
  • Defence
  • Mahindra & Mahindra - Millatary Defence Division
  • Defence Land Systems
  • Education
  • Energy
  • Farm Equipment
  • Financial Services
  • Hospitality
  • Industrial Equipment
  • Mahindra Conveyor Systems
  • Information Technology
  • Logistics
  • Mahindra Logistics
  • Luxury Boats
  • Mahindra Marine Private Limited
  • Real Estate
  • Retail
  • Mahindra Retail
  • Sports
  • Mahindra Racing
  • Mahindra-NBA Partnership
  • Mahindra-Celtic Football Club Partnership
  • Defunct

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.[15] 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).[16] Founded in 1953 by K.C Mahindra, the trust focuses primarily on fostering literacy in India and promoting higher learning through grants and scholarships.[17] Mahindra operates several vocational schools as well as the Mahindra United World College.[18] The KC Mahindra Trust’s primary project however is Project Nanhi Kali, which targets the education of young Indian girls.[19] The foundation currently supports the education of approximately 51000 underprivileged girls.[20] Other initiatives include Mahindra Hariyali (a 1 million tree planting campaign)[19] 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.[21]

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

Mahindra also 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 like Buddy Guy, Johnny Lang, and Shemekia Copeland at the Mehboob Studios in Mumbai.[22] Mahindra also partners with the NBA and Celtic Football Club to bring grassroots basketball and football to India.[23]

Leadership

Keshub Mahindra, the Chairman Emeritus of Mahindra & Mahindra, is 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 held many key positions, served on the Board of Directors of several organisations, and continues to be a member of many organizations and committees. He has also held many other important positions, such as 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 Management Institute, Geneva (1984–89); Chairman, India Nominating Committee 'Single Nation Programme', Eisenhower Exchange Fellowships, USA (1998–2005).

Over the years, he has also received numerous awards, including: NIF-Mody Enterprises Man of the Year Award (1980), Giants International Business Leadership Award (1972–82), Madras Management Association Business Leadership Award (1983), 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)[24]

Mr. Keshub is a "philanthropist who redefined corporate governance by effectively channelising funds into the social sector," notes the group's website.

A blip to the prestigious life and career is the chapter of Union Carbide India Ltd. (of which he was then the chairman) and the Bhopal Gas Tragedy. After the Bhopal Gas Tragedy he was charged and indicted (2010) 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.[25] [26]

Anand Mahindra is Chairman and Managing Director of Mahindra & Mahindra. He graduated magna cum laude from Harvard University and earned his MBA from Harvard Business School in 1981.[27] He joined the Mahindra Group in 1981 as an Executive Assistant to the Finance Director of the Mahindra Ugine Steel Company. His leadership has helped make Mahindra a global company and strong competitor since India's economic liberalization in 1991.[28] Anand is a notable public figure with a considerable following on Twitter and serves on many boards and committees.

Mahindra Group Old Logo

See also

References

  1. ^ "Corporate overview". Mahindra Corp. Retrieved 9 August 2010.
  2. ^ a b Employee strength
  3. ^ "India's Most Reputable Companies". Forbes.com. 20 November 2006. Retrieved 9 August 2010.
  4. ^ "BSE Sensex little changed; Reliance disappoints | Reuters". In.reuters.com. 27 July 2009. Retrieved 9 August 2010.
  5. ^ "Mahindra Corporate". Mahindra.com. Retrieved 9 August 2010.
  6. ^ Oconnor, Ashling (18 June 2007). "Time to put Indias new business challenge on the road". The Times. London. Retrieved 12 May 2010.
  7. ^ "Putt-Putt Tractors, Revved-Up Goals". Forbes.com. 27 October 2006. Retrieved 9 August 2010.
  8. ^ "The Hindu Business Line : Resurgent India strikes back with confidence". Blonnet.com. 26 April 2006. Retrieved 9 August 2010.
  9. ^ "The 20 Largest Companies in India". Rediff.com. 10 December 2010. Retrieved 18 February 2011.
  10. ^ "World's Most Reputable Companies: The Rankings". Forbes.com. 6 May 2009. Retrieved 18 February 2011.
  11. ^ "Mahindra & Mahindra to use 'Rise' as new brand positioning". Economic Times. 17 January 2011. Retrieved 18 February 2011.
  12. ^ "Tata Motors places bid for Saab Automobile: Report - The Times of India". Timesofindia.indiatimes.com. 6 March 2012. Retrieved 8 October 2012.
  13. ^ Mahindra EPC, PR Fonroche to set up two solar plants in RajasthanThe Economic Times, January 19, 2013
  14. ^ "Sebi grants license to Mahindra Mutual Fund". The Times of India.
  15. ^ "- Moneycontrol.com". 17 December 2007.
  16. ^ "Tech Mahindra launches foundation". The Hindu.
  17. ^ Project Nahni Kali Official Website
  18. ^ "Education". Mahindra.com. Retrieved 8 October 2012.
  19. ^ a b "- Moneycontrol.com". 3 October 2007.
  20. ^ "Nanhi Kali ::".
  21. ^ "how-we-help". Mahindra.com. Retrieved 8 October 2012.
  22. ^ "Alternative content". Mahindra Blues. Retrieved 8 October 2012.
  23. ^ "how-we-help". Mahindra.com. Retrieved 8 October 2012.
  24. ^ "Mahindra Corporate". Mahindra.com. Retrieved 9 August 2010.
  25. ^ "Eight convicted over Bhopal gas disaster - ABC News (Australian Broadcasting Corporation)". Abc.net.au. Retrieved 9 August 2010.
  26. ^ "UPDATE 2-Ex-Union Carbide officials jailed over Bhopal leak". Reuters. 7 June 2010. Retrieved 9 August 2010.
  27. ^ "Harvard Humanities 2.0". Harvard Gazette.
  28. ^ "Anand Mahindra". Mahindra.com. Retrieved 8 October 2012.

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