| Type | Privately held company |
|---|---|
| Industry | Conglomerate |
| Founded | 1945 |
| Founder(s) | Jagdish Chandra Mahindra Kailash Chandra Mahindra Ghulam Mohammed |
| Headquarters | Mumbai, Maharastra, India |
| Area served | Worldwide |
| Key people | Keshub Mahindra (Chairman) Anand Mahindra (VC & MD) |
| Products | Aerospace, aftermarket, agribusiness, automotive, components, construction equipment, consulting services, defense, energy, farm equipment, financial services, industrial equipment, information technology, hospitality, logistics, retail, real estate |
| Revenue | US$ 12.5 billion (2011)[1] |
| Profit | US$ 373 million (2009)[2] |
| Employees | 137,000 (2011)[2] |
| Subsidiaries | Mahindra & Mahindra, Mahindra Aerospace, Mahindra Engineering Services, Mahindra & Mahindra Financial Services Limited, Mahindra Systech, Tech Mahindra, Mahindra Satyam, Mahindra Lifespace Developers, Mahindra Ugine Steel Company |
| Website | www.mahindra.com |
The Mahindra Group is an Indian multinational conglomerate company headquartered at Mahindra Towers in Mumbai, India, with operations in over 100 countries across the globe. The group has a presence in aerospace, agribusiness, aftermarket, automotive, components, construction equipment, defense, 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. The Mahindra Group has a global presence with operations on every continent except Antarctica.[5]
Contents |
Mahindra & Mohammed was originally incorporated in 1945 by the brothers JC and KC Mahindra and Ghulam Mohammad 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. In 1948, KC 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.[6] 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.[7]
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).[8] 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,[9] and since then the Group's reputation and revenues have risen noticeably. Currently, Mahindra & Mahindra is one of the 20 largest companies in India [10] In 2009, Forbes ranked Mahindra among the top 200 most reputable companies in the world. [11]
In January 2011, the Mahindra Group launched a new corporate brand, Mahindra Rise, to unify Mahindra's image across industries and geographies. [12] The brand positions Mahindra products and services as aspirational, supporting customers' ambitions to 'Rise.'
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 51000 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 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.[20] Mahindra also partners with the NBA and Celtic Football Club to bring grassroots basketball and soccer to India.[21]
Keshub Mahindra, the Chairman of Mahindra & Mahindra, is a graduate from Wharton, University of Pennsylvania, USA. He joined the company in 1947 and became the chairman in 1963.
During his long career he has held many key positions, served on the Board of Directors of several organizations, and been 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), Indian Business School (IBS) Kolkata Lifetime Achievement Award presented by the Institute of Chartered Financial Analysts of India (ICFAI)(2007)[22]
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. [23] [24] [25]
Anand Mahindra is Vice 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. 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.[26] Anand is a notable public figure with a considerable following on Twitter and serves on many boards and committees.
|title= specified when using {{Cite web}}". http://www.mahindra.com/Who-We-Are/Overview.
|
||||||||||||||