On A Fast Track
Starting out as an executive assistant in the summer of 1991, to running a group with a current net worth of $18 billion, Anand Mahindra is a true visionary who transformed the family’s industrial business into a global conglomerate.
FY 2016-17 was a red letter year for the Mahindra group that boasts expansive amalgamation of 154 subsidiaries, with interests ranging from auto and finance to defence and technology, operating in more than 100 countries today. Mahindra & Mahindra (M&M), the group’s flagship company, India’s largest vehicle manufacturer and the group’s highest grosser, launched 16 vehicles in 2017, including the country’s first electric sedan, eVerito. M&M crossed the 50,000 mark in exports, consistently maintaining a 15 per cent CAGR growth rate for seven consecutive years.
As the company’s profit jumped 16.3 per cent to Rs 3,888.89 crore and revenue increased 7.7 per cent to Rs 41,895.4 crore compared with the previous year, Mahindra took home a salary of Rs 7.67 crore in 2017. According to the company’s annual report, this was an increase of 16.38 per cent from the previous fiscal, adding to Mahindra’s fortunes.
Talking about Mahindra’s acquisitions, the company made its entry into Turkey by acquiring Hisarlar, a farm equipment company, for a whopping Rs 800 crore. Global expansion has been the group’s priority as it generates more than 40 per cent sales outside of India and is planning to spike that figure further.
For instance, in a bid to get greater access to the South American market, M&M formed a joint venture with a local player in Brazil for its tractor business. Having tall plans in terms of launching new products and localisations, Mahindra has identified Mexico, Brazil, Argentina and Chile as the four key South American markets for its tractor business, spending millions of dollars on branding.
The group’s other subsidiaries including Tech Mahindra, Mahindra Finance, Mahindra Lifespace Developers, Mahindra Holidays continued to contribute to the overall growth.
Mahindra has no shortage of ideas for the business. He sees US President Donald Trump’s protectionist policy as an opportunity for India and announced doubling of investments in the US.
