ISSUE 4 • 2014ANAND MAHINDRA SPEAKS ABOUT HIS LOVE OF FILM MAKING 34

31

INNOVATING FOR GOOD AT TECH MAHINDRA

Mufaddal Choonia on Mahindra Racing’s new R&D centre 37

VAIDY’S MUSINGS40

RISE FOR GOOD SOCIAL STATUS28 33Empowering the Adivasi Community at Araku Valley and Nurturing a Culture of Innovation at Tech Mahindra with the sZenseEYE

Tweets featuring the Mahindra Group from around the world wide web

NEWS7 INDUSTRY SPOTLIGHT24

Updates from across sectors, including launches, initiatives, awards and recognition.

A focus on the Solar Energy space and Mahindra Susten’s (formerly known as Mahindra EPC) position in it.

ME TEAM

ASSOCIATE EDITORSZARINA HODIWALLA DARIUS LAM

AUTOMOTIVE DIVISIONBonita Fernandes, Rajeev Malik, Nandita Sarkar, Pavithra Kamdadai, KVN Prasad, Venecia Paulose, Neha Dalal and Anita Beri

FARM DIVISIONRujuta Nadkarni, Shruti Chhabra and Phiruzi Kasad

TWO WHEELERPriyanka Koijam

FINANCIAL SERVICESCharandeep Chawla, Sheetal Choksey,Amit Agarwal and Ritesh Gaind

AFTER-MARKETGeethu Menon and Mayank Maini

SYSTECHSwapnil Soudagar

MAHINDRA PARTNERSDesiree D’Cunha

INFRASTRUCTURE & REALTYRishika Mehrotra, Subrata Sengupta andAnurag Vijay

HOSPITALITYDeepali Naair

INFORMATION TECHNOLOGYVrinda Pisharody

DEFENCE SYSTEMSSanjit Tiwari

SUSTAINABILITYPoonam Bagwe

CORPORATE SOCIAL RESPONSIBILITYGilroy Correia and Santanu Bhattacharya

Edited and Published by Mahindra Group Communications for Mahindra & Mahindra Limited, Gateway Building, Apollo Bunder, Mumbai 400 001.

Editorial and Design Consultants:AICL Communications Limited (info@aicl.in)

For employees of the Mahindra Group and for private external circulation only, through the Mahindra Group.

CONTENTSCOVER STORY2

FORGING A GLOBAL PRESENCEThe Mahindra CIE alliance establishes one of the top 25 auto component companies in the world, creating a supply base for Mahindra’s own globally expanding mobility business and also servicing the needs of global OEMs.

SPECIAL FEATURE37RACING AHEADMufaddal Choonia, Chief Executive Officer, Mahindra Racing, talks about the company’s new development centre in Italy and its growing ability to design racing motorcycles.

FOREIGN DESPATCH26DECIPHERING THE PUZZLE CALLED INDIAMatthew Wozny, a 2014 global recruit from Harvard

University, shares his experiences of working at Mahindra and

his impressions about India.

AFTER HOURS34EXPERIENCING THE WORLD IN 8½ MM From studying cinema to investing in films -- Anand Mahindra reminisces about his keen interest in movies.

EDITORIAL

DARIUS LAMAssociate Editor

90 companies, 14 board meetings in 48 hours and 19 transaction agreements. These were just some of the mind boggling numbers involved in the Mahindra-CIE deal, one of the most complex M&A transactions ever executed in India. Our cover story in this issue takes a behind-the-scenes look at the strategy and passion which brought the two companies together. The coming together of Mahindra and CIE has resulted in the formation of one of the Top 25 auto component companies in the world. A true Rise story.

In a very special edition of After Hours, our Chairman, Anand Mahindra, spoke to ME about his passion for cinema and its profound influence on his personal and professional life.

Our Foreign Despatch this time is from India-based Matthew Wozny, a member of Mahindra’s Global Recruit Programme. The affable Matthew writes from the heart and with typical American candour about his experience of living and working in a country that never ceases to amaze him.

From this issue, ME is delighted to introduce a new column by K. N. Vaidyanathan, EVP & Chief Risk Officer of the Mahindra Group, or Vaidy, as he is fondly known. Vaidy’s Musings on life, culture, economics, sport and various other topics are sure to enlighten and educate you.

We also speak to Mufaddal Choonia, CEO of Mahindra Racing, about recent

developments including the opening of their brand new development centre in Italy, which joins Mahindra’s neural network of innovation along with other centres in India, Korea and the US. He also looks forward to the 2015 season including the recent tie-up with the renowned Aspar Team of Spain.

Crossing the road, climbing a flight of stairs and negotiating obstacles while walking are things we usually take for granted. But for the visually-challenged, these are often herculean tasks. Kunal Bhat, Principal Technical Architect at Tech Mahindra is trying to make life a little easier for them with sZenseEYE, the innovative goggles he has created for the visually impaired. You can read all about it in the Rise For Good section on page 31.

And don’t miss the incredible achievements of the ‘Everest Twins’, Nungshi and Tashi Malik, the world’s first twins to scale Mount Everest and the seven tallest peaks in seven continents, all for the cause of the girl child.

After our last issue, many of you wrote to us, expressing appreciation for the new design of your newsletter. A big thank you from the editorial team to all those who sent us their valuable comments and feedback.

We hope to live up to your expectations with this issue as well!

Darius Lam

Dear Readers,

F O R G I N GA G L O B A L P R E S E N C E

THE MAHINDRA CIE ALLIANCE ESTABLISHES ONE OF THE TOP 25 AUTO COMPONENT COMPANIES IN THE WORLD, CREATING A SUPPLY BASE FOR MAHINDRA’S OWN GLOBALLY EXPANDING MOBILITY BUSINESS

AND ALSO SERVICING THE NEEDS OF GLOBAL OEMS.

When Zindagi Na Milegi Dobara (You Only Live Once) released in India back in 2011, it proved to be a blockbuster hit. Zoya Akhtar’s breezy coming-of-age comedy-drama which centred on a road trip by three friends through some of Spain’s most picturesque locales captured the hearts and minds of viewers across the country.

As far as alliances go, the one between Mahindra and CIE has all the ingredients of a Bollywood blockbuster. Boy meets girl. Boy woos girl. Boy and girl decide to tie the knot. The families meet to discuss the alliance, but there are many obstacles along the way that threaten the marriage.

FINDING COMMON BONDSMahindra CIE’s alliance goes back to a time when an unflattering acronym, ‘PIGS’ was coined to describe a group of countries, including Spain, which were facing dire economic straits and the wisdom of the Mahindra Systech team was questioned as it proposed an alliance and a cross investment between Mahindra and CIE.

The movie played an unwitting part in helping tide over objections. Inspired by the film that has boosted Indian tourist arrivals into Spain by 32%, Hemant Luthra, President, Systech Sector quipped, “You can’t do Due Diligence by relying only on lawyers and accountants

working out of an office. You have to get a feel of the country and the pulse of the economy with supporting ‘field research’. And what better way than taking two years to visit every bar and restaurant in Madrid, Barcelona and Bilbao before and after checking out all the golf courses in the company of your prospective partners and their families! It ensures pre merger integration!”

Just when the ‘couple’ thought that the worst was over, Anton Pradera, the Chairman of CIE Automotive – and Mahindra’s biggest supporter - fell ill, followed by Hemant who had to undergo a heart bypass surgery. Both were out of action for several months, but were committed to each other, cherishing a

COVER STORY

2 ISSUE 4 • 2014

common vision and values. Mahindra Systech and CIE waited patiently for each other till they could finally be united in ‘Holy Matrimony’.

“The time spent together helped to build mutual trust and confidence to the point where we figured out that if there was a recession in Spain, the Spanish did not know about it ,” adds Hemant. He should know since he is something of a veteran in the M&A field, having orchestrated the landmark Essar Telecom - Hutchison deal in his previous avatar at Essar and having created the core of Systech through a number of acquisitions in line with the principles of ‘Anandnama’ i.e. investing so as to gain access to Customers, Technology and Management skills.

The marriage, elegantly simple in terms of strategy, epitomises the entrepreneurial spirit of the Mahindra Group and its growing expertise in complex M&A transactions. It showcases the group’s skills in building a business from a clean sheet of paper through acquisitions, and then developing that into a strategic partnership with a global auto component supplier, resulting in strong financial benefits for both companies.

“When CIE first expressed an interest in us, we wrote back explaining our intent to create ‘One Systech’ which included our European companies which was actually not a part of their strategy. In November, they invited us to visit their plants in Spain. We returned,

impressed with their efficiency and strengths in forgings and stampings. In fact, they have never made a quarterly loss since inception in 1996,” says Vikas Sinha, Vice President – Strategy, Mahindra Systech who was then with the Office of Strategy Management at Mahindra.

“They first wanted to form a JV with just our Stampings Division which didn’t seem feasible to us. Things really changed when CIE Chairman, Anton Pradera met Anand Mahindra. There was mutual admiration and respect on both sides which led CIE to dramatically change its approach. They decided to take a stake in One Systech while we took a stake in CIE,” Sinha explained. “We

USAAutometal

MEXICOAutometal

UKStokes forgings

BRAZILAutometal

GERMANYMahindra Forgings Europe

LITHUANIA CIE

SPAINCIE

MOROCCOCIE

FRANCECIE

PORTUGALCIE

CZECH REPCIE

ITALYMetalcastello

ROMANIACIE

INDIAMahindra CIE

RUSSIACIE

CHINACIE

MAHINDRA CIE

COVER STORY

3

CREATING A GLOBAL AUTO COMPONENTS PLAYER

Formed by the merger of Mahindra CIE Automotive, Mahindra Hindoday, Mahindra Gears,MUSCO Stampings & Mahindra Composites

must say we were very lucky to discover that on the other side of the world, there was a company with values and culture similar to ours. There were several other common features between the two groups. Both were diversified in terms of technology and decentralised in nature, with each division functioning autonomously. Both Mahindra and CIE have grown through mergers and acquisitions,” added Pedro.

SYNERGY BETWEEN MAHINDRA AND CIEFor Mahindra, the deal will enable access to new products and global customers, including respected marquees like Volkswagen, Honda, Toyota, Ford, General Motors and Renault which were missing from its client list. Both Mahindra and CIE recognised that the automotive components business was becoming increasingly consolidated and global. International vehicle manufacturers were demanding that vendors follow them around the world.

approached Mahindra because it was aligned with our aspiration to become a truly global company. CIE is very strong in Eastern Europe, the USA and Mexico. We also have several plants in Brazil and a presence in Russia and China but we needed a base in India. This would enable future expansion into South East Asia, particularly Indonesia, Malaysia and Thailand. Moreover, India is also a major player in the automotive industry,” says Pedro Echegaray, CIE Representative in India, as

“Whenever we approach a new market or region, we always look for a strong and successful local partner. We never attempt to enter new geographies on our own because the business culture varies across countries. This is perhaps the most difficult aspect of expansion.”

he explained CIE’s rationale for approaching Mahindra.

“Whenever we approach a new market or region, we always look for a strong and successful local partner. We never attempt to enter new geographies on our own because the business culture varies across countries. This is perhaps the most difficult aspect of expansion. In fact, we had looked at several companies before deciding on Mahindra. I

COVER STORY

4 ISSUE 4 • 2014

1

The Mahindra CIE alliance creates one of the leading LCC auto component companies in the world. The Mahindra Group now has access to a global supplier base for its automotive and tractor businesses, while CIE has gained entry into India, a key growth market where it previously had no presence.

As part of the transaction, CIE Automotive - through one of its subsidiaries - would acquire from the Mahindra Group its stake in listed and unlisted companies belonging to the Systech auto components business. CIE Automotive would contribute its forgings businesses in Spain and Lithuania, and together consolidate all companies under Mahindra Forgings Limited, which would be rechristened Mahindra CIE. The latter would continue to be listed on the BSE (Bombay Stock Exchange) and the NSE (National Stock Exchange).

M&M has a 13.5% equity stake in CIE Automotive, which is listed in Spain, making it the second largest shareholder in CIE. M&M would also nominate two directors to the

CIE Board. Meanwhile, CIE Automotive has a majority stake in a single listed entity in India that would continue to operate the current Systech automotive components businesses globally, and include CIE’s European forgings operations.

OPERATION PROJECT MOON The seeds of the alliance were now sown and it was time to lay the groundwork for the actual merger activity, code-named Project Moon. Mahindra and CIE engaged in negotiations on valuations until June 2013 with several rounds of discussion and due diligence work being done by both companies. Mahindra’s M&A team, led by S. Durgashankar, Executive Vice President – Mergers & Acquisitions, had its work cut out.

“This was a global alliance with cross investments, making it a very unique and complex deal,” says Durgashankar. “To give you a sense of the complexity, the deal involved 20 Mahindra Group companies in Mauritius, Germany and Italy and 70 CIE companies spread across Spain, Lithuania, France, Brazil,

China, Russia, the Czech Republic, Mexico and Portugal. A total of 14 Board meetings were conducted within a span of 48 hours and 19 transaction agreements were signed,” explains Durgashankar.

The agreement on valuation finally took shape in January 2013. Then came perhaps, the most challenging part of the process, that of executing the actual merger. “The Competition Commissions of three countries – Brazil, Germany and India - were involved. There were two merger schemes, two valuations and two valuers,” says Sinha.

To complicate matters further, MUSCO (Mahindra Ugine Steel Company) was being merged through a de-merger process which implied that the company’s shareholders were not entitled to an open offer, resulting in protests.

In addition, Mahindra had to tackle a growing perception within the larger financial community that the Group had sold out but subsequent developments have had

COVER STORY

5

1 Anand Mahindra, Chairman, Mahindra Group (left) and Anton Pradera (right), Chairman, CIE Automotive at the signing of the global alliance agreement

3 Pedro Echegaray

4 Hemant Luthra

5 Vikas Sinha

2 Pre merger integration

2

3 4 5

analysts eat their words and the deal is now being commended as a masterstroke with Mahindra swapping part of its stake for the second largest shareholding in the parent CIE. In one fell swoop, Mahindra CIE + CIE have together joined the league tables of the top 100 component companies in the world servicing the needs of OEMs across the world. At the same time the partnership has also created a supply base for Mahindra’s own globally expanding mobility business. With the MCIE share price more than doubling to EUR 13 and MCIE quintupling to INR 225 since the merger was announced, the cynics have been silenced.

The marriage has proved to be a great success as the MCIE share price increased from INR 40 in May 2013 to ~INR 210 in February 2015.

“We invested approximately INR 1,100 crores in the deal and the present value of M&M’s shareholding in Mahindra CIE + CIE is around INR 3,000 crores, giving us a profit of INR 2,000 crores. The market value of Mahindra CIE today is ~USD 1.1 billion. Systech is thus, the first start up after Tech Mahindra and Mahindra Finance to reach a billion dollar valuation,” says a visibly proud Luthra.

Apart from valuations and share price, what implications does this deal have on the business?

“This was by far the largest partnership for CIE and complex because it involved many different technologies and countries. It encompassed several listed companies and four anti-trust commissions. Some companies were acquired while others were merged, requiring swap ratios and a lot of legal work. After more than a year of marriage all our expectations have been fulfilled and in fact, exceeded. It’s been a terrific experience,” says Pedro.

BUILDING A SUCCESSFUL FUTURESo what’s next for this landmark alliance? What does the road ahead look like? “We have to deliver growth, through an increase in market share despite the downturn in domestic demand, sustaining the turnaround in Germany while leveraging our cost base to enhance exports. We have to ensure that we create a global winning team,” says K. Ramaswami, Managing Director, Mahindra Forgings.

“Mahindra CIE’s success is the key priority at CIE currently as we are focused on India which is the next growth market. It will also be the base for our expansion into South East Asia. Hence, for the next five years at least, we will be focusing on India,” says Pedro whose personal goal includes travelling across India, a country he finds similar in some aspects to Spain.

“Staying in Mumbai has been a great opportunity for me and my family and it was not as big a change as I expected because we have so much in common. In both cultures, we place a lot of importance on family and children. We share the same values. We have been to Agra, Goa, the Himalayas and New Delhi but there is so much more to see of this beautiful country,” he concludes.

That perhaps best sums up the success of the Mahindra CIE alliance. For in the end, valuations and stock prices can only tell part of the story. Mutual respect, sensitivity, patience and willingness to compromise while seeing the other’s point of view are the key ingredients for a truly successful partnership.

* Courtesy www.travelbizmonitor.com

“CIE’s strong operational expertise in Germany and Italy has had a very positive influence on our German operations, cutting losses and driving efficiencies within a short span of 6 – 9 months. EBITDA margins have also grown from 2 – 3 per cent to 8 – 9 per cent,” says Sanjay Joglekar, EVP & CFO - Systech Sector.

In addition to this, CIE renegotiated rates with Mahindra Forgings’ German customers and leveraged synergies in steel procurement. As productivity improved, the number of temporary workers was also reduced, cutting costs further.

“This alliance will open doors for us in terms of customers, new products and technology,” concludes Sanjay.

“CIE now has the opportunity to do business with customers in India. We are also leveraging synergies in purchasing and raw materials which will create a lot of value for our stakeholders, including suppliers, in the medium to long term. The latter will also get the opportunity to supply to our European customers and employees will also get exposure to a global environment and best practices,” says Pedro, elaborating on the benefits of this deal.

“We had to lay the groundwork for everything in advance and then execute the deal in one stroke,” says Durgashankar.

Tough negotiations on swap ratios

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6 ISSUE 4 • 2014

NEWS

NEWS - CORPORATE

MAHINDRA GROUP AMONG TOP 3 IN INDIA FOR CSRThe Mahindra Group was named among the top three Indian companies for its CSR and sustainability initiatives by Economic Times’ Corporate Dossier, in league with Future scape and IIM Udaipur.

CSR at Mahindra has been a mix of strategic philanthropy, shared values and sustainability. ‘Alternative Thinking -- The Mahindra Approach to Sustainability’ considers sustainability to be an execution philosophy and a mantra to build competitive and future-ready business models.

ANAND MAHINDRA VISITS BRISBANE FACILITIESAnand Mahindra, Chairman, Mahindra Group, recently visited Australia as a member of the CEO delegation, which accompanied the Honourable Prime Minister, Shri Narendra Modi on his official visit. Mr. Mahindra also visited the Mahindra Ag & Auto assembly facility in Brisbane and was briefed about the New Zealand operations of the business by MAAPL NZ distributor, Robert Young. Mahindra Ag & Auto handles the tractor and vehicle business for Australia and nearby countries. The MAAPL Brisbane facility assembles Mahindra Tractors for nationwide distribution.

The Mahindra Group spends about Rs. 160-170 crore annually on various projects. “We have metrics which tell us how locations are doing in terms of efficacy and efficiency,” says Rajeev Dubey, President (Group HR, Corporate Services & After-Market) & Member of the Group Executive Board, Mahindra & Mahindra Ltd.

Anand Mahindra with the Mahindra Ag & Auto team

CORPORATE

7

NEWS - CORPORATE

V. S. PARTHASARATHY WINS CFO INNOVATION ASIA AWARDV. S. Parthasarathy, Chief Financial Officer, Group CIO, EVP – Group M&A & Member of the Group Executive Board, Mahindra & Mahindra Ltd., received the CFO Innovation Asia Award 2014 for Excellence in Mergers & Acquisitions on November 13, 2014. He is the only Indian, and Mahindra is the only Indian company, to make it to the 3rd Annual CFO Innovation Awards.

Accepting the honour, Mr. Parthasarathy said, “I am honoured to be chosen and humbly accept the award on behalf of my company and function. It is truly a Rise moment for the Mahindra Group and is a key plank in our quest to be amongst the 50 most-admired global brands by 2021.”

The Mahindra War Room Season 7 was launched with the theme of ‘Dare to Dream’ inspired by the Group Aspiration of “emerging among the Top 50 most admired global brands by 2021 by enabling people everywhere to Rise”.

The event featured 2,912 teams from 36 participating campuses from across the country. The top 22 teams (including 3 Zonal Winners) were invited to compete in the CEO Round held in Mumbai. The Grand finale was among the top eight teams.

The Grand Jury declared ‘Team Centurions’ from the Symbiosis Institute of Business Management as the National Winners. The Runner Up Award was shared by two teams, ‘Team Bumble Bees’ from the Xavier Labour Relations Institute, Jamshedpur and ‘Team Dare Dreamers’ from the Institute of Management Technology, Ghaziabad.

MAHINDRA WAR ROOM SEASON 7 RESULTS ANNOUNCED

Team Centurions from Symbiosis Institute of Business Management, Pune

Prince Augustin, EVP, Group Human Capital & Leadership Development, addresses the audience

8 ISSUE 4 • 2014

NEWS - MAHINDRA RACING

MAHINDRA TIES UP WITH TEAM ASPARMahindra Racing has tied up with the multiple championship-winning Aspar Racing Team. Mahindra Racing is all set to step in as a full-scale independent constructor in 2015, supporting four customer teams in the most competitive class of the World Championship. Mahindra Racing will supply three motorcycles to the four-time champion Jorge Martinez’s Team Aspar, with the Spanish squad set to become Mahindra Racing’s official team.

Mahindra MGP3O

Mahindra Racing & Team Aspar Join hands for Season 2015 (From Left: SP Shukla, Chairman, Mahindra Racing; Jorge ‘Aspar’ Martinez, Team Owner, Aspar Racing; Mufaddal Choonia, CEO, Mahindra Racing)

Mahindra MGP3O rider Brad Binder on the podium at the German GP

MAHINDRA RACING

MGP3O WINS AT JAPANESE GRAND PRIXOur MGP3O race machine won the third position with team rider Brad Binder at the Japanese Grand Prix, claiming the third podium finish of the year.

Season 2014 has been the most successful year so far with the MGP3O recording three podiums wins – including a best-ever second-place finish by Brad Binder. We have six top four finishes in the 2014 World Championship, and are also placed third in the Constructors’ championship.

9

MAHINDRA SUSTAINABILITY ASSESSORS FELICITATEDThe CII-ITC Sustainability Awards, instituted by the CII-ITC Centre of Excellence for Sustainable Development, honours companies which have successfully incorporated sustainability in their business models. The Centre also felicitates sustainability Assessors from these companies to boost their morale and show appreciation for the work done by them.

Prakash Javadekar (Minister of Environment and Forest, India) honoured Assessors (on the left) from the Mahindra Group at the CII-ITC Award ceremony held on December 19, 2014.

SUSTAINABILITY

MAHINDRA SUSTAINABILITY AWARDS 2014The Third Mahindra Sustainability Awards were presented at the annual Mahindra Rise Awards ceremony held in Mumbai on November 20, 2014.

• The Real Estate Sector won the Grand Master Award for best overall performance, with the highest performance level and score in all three bottom lines.

• Farm Division, Rudrapur won the Progressive Performer Award for outstanding improvements in sustainability related parameters.

• Mahindra Intertrade Kanhe received the Game-Changer Award for a path breaking initiative, ‘Greening the Bluing Process’.

• Ravi Begur from Mahindra Logistics received the Change Agent Award for being the most proactive Sustainability Champion.

MAHINDRA RISE AWARDS 2014The Mahindra Rise Awards 2014 was held at the NCPA, Mumbai, on November 19, 2014. The occasion was graced by Nadir Godrej, Chairman – Godrej Agrovet, Managing Director – Godrej Industries, and also a Board Member of Mahindra & Mahindra Ltd. A new award called ‘Rise Awards for Workmen’ was instituted at this year’s award function. Other Award categories included ESOPs, Safety, The Mahindra Way, Sustainability, Innovation and Veerta (Bravery).

Winners of the Mahindra Sustainability Awards

The award winners on stage

AWARDS & RECOGNITIONS• Mahindra & Mahindra Ltd. received

the Bombay Chamber’s Good Corporate Citizen Award 2013-14, under the Large Corporate Category.

• Mahindra’s Automotive Sector was awarded the ‘Golden Peacock Award for Sustainability’ 2014 at the ‘Golden Peacock Awards Nite’ held in London. The award was presented by Chief Guest, Rt. Hon. Theresa May MP, Secretary of State for the Home Department, Government of UK.

Umesh Joshi (Automotive Division) as Best Debutant Assessor

NEWS - SUSTAINABILITY

Naresh Patil (Group Sustainability) as Member of the Best Team and Best Team Lead for efficiently leading a team of assessors

Anand Marathe (Group Sustainability) as Member of the Best Team for combined efforts in the evaluation and assessment process

10 ISSUE 4 • 2014

NANHI KALI AND VERVE HOST FILM SCREENING Nanhi Kali and Verve co-hosted a special screening of the short film ‘After My Garden Grows’. This 10-minute documentary by Oscar-winning filmmaker Megan Mylan depicts the subject of child marriage through the story of an entrepreneurial teenager in rural India.

NANHI KALI BENEFITS 100,000 GIRLS In October 2014, Project Nanhi Kali met its milestone of educating 100,000 girls across India. Over 10,000 girls have completed Class X and over 80% of them are pursuing higher education or vocational training.

Oscar-winning director Megan Mylan at the special screening at Gateway Building

Harish Chavan, COO, Mahindra & Mahindra, FES, Swaraj Division contributing towards Mahindra Primary Health and Cancer Care Project

Patient post cleft lip surgery at the Lifeline Express Gorakhpur

MAHINDRA SWARAJ TAKES UP CANCER AWARENESS PROJECTMahindra Swaraj launched a cancer awareness project by providing palliative care, i.e. home care services free of cost to the poor and terminally ill cancer patients in 30 villages of Punjab.

This unique project will be executed under the banner of ‘Mahindra Primary Health and Cancer Care project’. Mahindra Swaraj has signed an MoU with Global Cancer Concern India, an NGO working in cancer care. The project is likely to benefit 30,000 families and will start in villages near Landran and Chapparcheri.

One of the important aspects of the envisaged project is to spread awareness about cancer and promote voluntary screening for early detection. The focus area will be the cluster of villages surrounding Rasanheri, Chudiala, Machhli Kalan, Jhanjheri and Bairampur.

LIFELINE EXPRESS KICKS OFF AT GORAKHPURThe Mahindra Group, along with the Government of Uttar Pradesh and the Impact India Foundation, organised the 11th Lifeline Express project at Gorakhpur from November 8-21, 2014 at the Gorakhpur Railway Station.

Cataract, cleft lip and ENT surgeries were conducted and pre-operative and post-operative care was given at the LNM Railway Hospital, Gorakhpur. The Lifeline Train also provided Dental and Epilepsy treatment to patients.

Employees from Mahindra & Mahindra Ltd., Channel Partners (Auto & Farm Dealerships at Gorakhpur) and Mahindra Finance participated in all phases of the Lifeline Express project, investing 372 person hours, cumulatively. Of the 3,524 patients treated, 660 patients received surgical treatment, 1,599 received consultation services and 1,265 received hearing aids and medicines.

NEWS - SUSTAINABILITY

11

TECH MAHINDRA LAUNCHES SWACHH BHARAT CAMPAIGNThe Tech Mahindra Foundation and over 90,000 associates actively supported the Swachh Bharat Campaign across project locations and offices.

The Foundation also launched the Swachh Vidyalaya, or Clean School initiative, a month-long drive to make government schools better and cleaner. C. P. Gurnani, Managing Director and Chief Executive Officer, Tech Mahindra flagged off the initiative in Pune with 15 municipal schools. In Delhi-NCR, Loveleen Kacker, Chief Executive Officer of the Tech Mahindra Foundation, led the drive in Mamoora village.

The Foundation has also worked through the Kagad Kach Patra Kashtakari Panchayat (KKPKP) or the Waste pickers Collective in Pune towards improving the lives of the rag picker communities. In Delhi-NCR, the Foundation works with the Asha Deep Foundation on various education and empowerment programmes for the rag picking communities. The Foundation is also working with Magic Bus to promote various ideas around sanitation, hygiene and preventive health.

MIQ

Cycle 6 Award Recipients with V. S. Parthasarathy and Bishwambhar Mishra

6TH MAHINDRA WAY AWARDS PRESENTEDThe 6th Mahindra Way (TMW) Awards were presented by V. S. Parthasarathy, Chief Financial Officer, Group CIO, EVP – Group M&A & Member of the Group Executive Board, Mahindra & Mahindra Ltd., at the annual Mahindra Rise Awards function. Bishwambhar Mishra, Director-MIQ, introduced the TMW awards. Of the 25 companies assessed in TMW Cycle 6, seven companies that moved up in the TMW stage of maturity were awarded trophies.

NEWS - SUSTAINABILITY & MIQ

K. C. MAHINDRA EDUCATION TRUST GETS INCLUSIVE INDIA AWARD 2013The K. C. Mahindra Education Trust was awarded in the Urban Livelihoods - Corporate Foundation category for its project ‘Mahindra Pride School’ at the ICICI Foundation and CNBC TV18’s Inclusive India Awards held on December 5, 2014 in Mumbai.

Chanda Kochhar, MD & CEO, ICICI Bank and Union Minister Piyush Goyal presenting the award

12 ISSUE 4 • 2014

AUTOMOTIVE, FARM AND TWO WHEELERS

MAHINDRA TWO WHEELERS COMPLETES 51% STAKE ACQUISITION IN PEUGEOT MOTORCYCLES

Dr. Pawan Goenka, Executive Director and President (Automotive & Farm Equipment Sectors) and Mr. Rajesh Jejurikar, Chief Executive – Farm Equipment & Two Wheeler Division at a press conference to announce the acquisition

MAHINDRA TRACTORS ADJUDGED A SUPERBRANDIn a survey conducted by the Superbrands Council, the brand has been conferred the superbrand title for the second time (the first time was in 2009). This honour puts Mahindra in an elite fraternity of brands that enjoy the trust of India’s consumers for producing durable, reliable and high quality products.

NEWS - AUTOMOTIVE, FARM AND TWO WHEELERS

The 50,0001st Yuvraj makes its debut

50,001ST YUVRAJ TRACTOR ROLLED OUTThe 50,001st Yuvraj Tractor was rolled out at the DDPL Rajkot manufacturing facility on October 21, 2014.The tractor was rolled off the assembly line by K. G. Shenoy, Senior Vice President - Manufacturing, Farm Division, in the presence of S. Seshasayee, VP, SCPC – Farm Division, Dr. Dipak Patel, MD – DDPL, Deepak Veerangama (Works Head, DDPL), R. R. Soni (Deputy GM , SCPC – Farm Division) and the Mahindra and DDPL teams.

Mahindra Two Wheelers Ltd. (MTWL) completed the formalities for a 51% stake in Peugeot Motorcycles (PMTC), part of the Euro 54 billion PSA Group based in France. PMTC is a key player in urban mobility in Europe for 116 years and is the oldest motorised two-wheeler motor vehicle manufacturer in the world.

Commenting on the completion of the acquisition, Dr. Pawan Goenka, Executive Director, Mahindra & Mahindra Ltd. said, “At Mahindra, we are committed to the long term growth of Peugeot Motorcycles and are confident that this relationship would be

one of mutual respect, trust and learning. This partnership would enable both MTWL and PMTC to speed up their international expansion by driving synergies and leveraging respective strengths.”

13

NEWS - AUTOMOTIVE, FARM AND TWO WHEELERS

MAHINDRA SWARAJ WINS SILVER AT QUALITY CIRCLE COMPETITIONAn all-women team of diploma engineer trainees at Mahindra’s Swaraj Division represented the company at the International Quality Circle Competition held in Sri Lanka and won a silver medal. The Division’s 161 Quality Circles encourage innovation in order to improve product design, manufacturing processes and culture at the workplace. The Division has also been organising a quality circle competition, Rise Spardha, since 2011.

Swaraj celebrates gender diversity, encouraging women to participate in quality circles and showcase their ideas on public platforms. Employees include girls belonging to small villages in Haryana, who get an opportunity to appear on a public platform and arrive at solutions themselves with confidence. These girls, working in a male dominated domain as Mechanical Engineers, are able to not only cross their village boundaries but also overcome cultural limitations. The exposure that they receive at global competitions also enables them to learn about best practices besides improving their communication and presentation skills.

Gaurav Gill and Musa Sherif conquer the Rally De Bengal in an XUV500

MAHINDRA ADVENTURE WINS RALLY DE BENGAL 2014Mahindra Adventure’s cheetah-inspired XUV500 won the Rally De Bengal, the 4th round of the Indian Rally Championship (IRC) 2014, continuing its domination of this premier national racing series. The team has already won top positions at the previous three rounds of the IRC – the Rally of Maharashtra, Rally of Coimbatore and South India Rally.

Speaking on the occasion, Vivek Nayer, Chief Marketing Officer, Automotive Division, said, “This unprecedented victory by the Mahindra vehicles is a testimony to the tough and rugged Mahindra DNA.”

Proud torch bearers of gender diversity at Swaraj Division

Karun Chandhok visited Mahindra Reva’s manufacturing facility in Bengaluru on November 17, 2014, to promote Formula E, electric vehicles and their advanced technology and engineering. Mentioning that

the high-performance power train and the Formula E car battery will be soon used in road cars, Chetan Maini, CEO of Mahindra Reva Electric Vehicles commented, “The gap is much less between Formula E and regular

road cars, because the technologies are more matured. The technology we use in our road cars is similar to what is incorporated in Formula E vehicles.

Chetan Maini welcomes Karun Chandhok to the Mahindra Reva plant

Karun speaks about EV technology & its incorporation in the Mahindra e2o

Karun & Chetan with Karun’s specially designed No.5 Mahindra e2o

KARUN CHANDHOK VISITS MAHINDRA REVA FACILITY

14 ISSUE 4 • 2014

NEWS - AUTOMOTIVE, FARM AND TWO WHEELERS

SUMMIT DRIVE ORGANISED BY MAHINDRA ADVENTURE The first Mahindra Adventure Summit Drive was organised as part of the Mahindra Adventure Challenge series from September 29 to October 6, 2014. It commenced from Kathmandu, Nepal and travelled to the Everest Base Camp in Tibet.

Five expedition-ready vehicles (2 Thars, 2 XUV500s and 1 Rexton) from the Mahindra stable were driven from Kathmandu in Nepal through the Tibetan highlands to reach the Everest Base Camp. The participants got the opportunity to go off-roading on the high altitude of the Tibetan plains.

The Mahindra Transport Excellence Awards which recognise, reward and celebrate unrecognised heroes of the Indian Transport industry entered its 4th season this year. The entries campaign kicked off in early August 2014, resulting in 2,300 entries for various categories. The two new categories

Mahindra Adventure Challenge participants with their tough & rugged Mahindra UVs at Everest Base Camp

MPOWER MENTORS SUMMIT HOSTED AT IIM-AMahindra hosted the Mpower Mentors Summit at IIM Ahmedabad (IIM-A), from November 8 to 10, 2014.

The programme saw 20 transport industry doyens participating. The participants collectively owned a fleet of over 3,000 trucks, clocking more than Rs. 3,000 crores of annual turnover together and, more significantly, touching thousands of lives through their transport businesses.

The two-day course covered various topics and aimed to develop an agenda for further professionalisation of Indian transport and facilitate the mentors of the Indian transport industry to guide and enable their protégés to take charge.

MPower Mentors Summit participants

The who’s who of Indian Transport at the valedictory ceremony of the Mahindra MPower Mentors Summit

R. C. Mangal, Sr. VP (Sales & Marketing) inaugurates M/s Horizon Entrade, MTBD’s dealership in Guwahati

– Spares Retailers and Safety (based on the recommendation of the Ministry of Road Transport & Highways) – also received a phenomenal response. The other categories are Highway Dhaba, CV Mechanic, CV Financiers, Fleet Owner, Young Transport Personality and Lady Transport Personality.

The total number of awards to be conferred is 34, of which 10 will be national runners-up, 9 regional runners-up and 15 national runners-up, respectively.

MAHINDRA TRANSPORT EXCELLENCE AWARDS SEASON 4

15

NEWS - AUTOMOTIVE, FARM AND TWO WHEELERS

MAHINDRA USA PARTNERS WITH INTIMIDATOR TO OFFER UTVMahindra USA has teamed up with Intimidator Inc. to manufacture an all-new line of utility vehicles, the Mahindra mPACT™ XTV. The rollout of the UVs will begin with six models available through Mahindra’s dealer network. Mahindra dealers were given a sneak preview of the new utility vehicles at Mahindra’s Regional Dealer Meetings in October.

The Mahindra mPACT™ XTV is designed to provide superior performance and deliver impressive work and transport capabilities. This XTV line up offers category-leading cargo box and towing capacity. Each model offers spacious, comfortable seating and is loaded with features, all backed by an industry-leading three-year powertrain and one year bumper-to-bumper warranty.

The Mahindra mPACT™ XTV

SSANGYONG DONATES VEHICLES FOR MEDICAL SUPPORT IN GHANA In November, Ssangyong Motor donated the Rexton and Korando Sports to support the Government of South Korea’s medical support project for developing countries. These vehicles, which boast outstanding driving performance on rugged roads, will be used as medical transportation in Ghana, Africa, under the project organised by the Seoul National Dental Hospital and supported by the Ministry of Science, ICT and Future Planning.

SSANGYONG HOLDS 2014 GLOBAL DISTRIBUTOR CONFERENCESsangyong Motor held the largest-ever Global Distributor Conference in Paris, France, from October 1, 2014. About 130 dealers from 65 countries attended the conference and shared the business vision, product strategies and marketing plans.

SSANGYONG STARTS ‘GET IT LUV’ KORANDO ROAD SHOWSsangyong Motor started the ‘Get It LUV’ Korando Road Show in October 2014 nationwide to promote the Korando family brand and attract customer interest. Four models, including the Korando C, Korando Sports, and Korando Turismo Chateau, with various accessories for leisure and outdoor activities, crossed the country, traversing six major cities in 40 days.

1

2

3

1 The Ssangyong team donates vehicles for medical support work in Ghana

2 Participants at the Ssangyong Global Distributor Conference

3 The ‘Get It LUV’ Korando Road Show

“Our partnership with Intimidator brings together two companies with shared vision, an innovative approach to product design and a passionate commitment to quality. Mahindra is dedicated to investing in the future through new product development to provide our dealers and customers with products that continue our tradition of delivering the unmatched value they have come to expect from Mahindra,” said Mani Iyer, President, Mahindra USA.

16 ISSUE 4 • 2014

MAHINDRA USA ANNOUNCES ITS FIFTH NORTH AMERICAN FACILITYMahindra USA announced the opening of its new Midwest Authorized Distribution Center, its fifth center, in mid-February 2015. The new 15-acre facility is a joint project with long-time Mahindra partner, Kansas Machine Works (KMW), located in Lyons, Kansas. This Assembly and Distribution Center will serve Iowa, Kansas, Missouri, Minnesota, North Dakota and South Dakota with the ability to ship 150 tractors per month once fully operational.

“The addition of a fifth distribution facility underscores our continued commitment to investing in infrastructure to support the Mahindra product line and brand growth. There is a focused effort to provide our dealers with fast response times to meet their growing market requirements,” said Mani Iyer, President, Mahindra USA. “Mahindra is the fastest growing tractor brand in North America because of our emphasis on dealer-first and customer-first philosophy.”

The new Midwest Authorized Distribution Center is declared open!

NEWS - AUTOMOTIVE, FARM AND TWO WHEELERS

TRENDWATCHBY DARIUS LAM

GREAT EXPECTATIONS

The start of a new year brings with it the hope of a fresh beginning; new resolutions are made, new ambitions set and there is a feeling that things can only get better. This is particularly true of the Indian automotive industry, which sees a spurt in demand with the arrival of a new model year, particularly among passenger cars and two wheelers.

The industry is certainly ready for some good news, having been through a difficult 2014 when demand was restrained thanks to sluggish economic growth and a wait-and-watch attitude from buyers. The green shoots of growth are, however, clearly visible with volumes rising steadily during the last few months of 2014, given the stable new

government which is determined to drive economic growth. Other positives include the gradual increase in GDP growth, and a declining trend in fuel prices and interest rates.

Sales of passenger cars have been on the up trend with volumes growing by 4.9% to 1.35 million units during April to December last year. This is 1.1% higher than the growth during April to November, indicating a gradual revival in demand due to rising consumer confidence. Fiat, Honda, Hyundai, Isuzu, Maruti, Nissan and Toyota showed positive growth during this period.

Utility Vehicle demand also saw a slight uptick during December, with cumulative growth at 5.5%, compared to 5.2% earlier. However, this segment is likely to remain under pressure given that the excise duty rates moved back up to their pre-concession levels during January.

The gradual revival in economic growth is having a particularly positive impact on the heavy truck segment with volumes rising by 16.5% to 135,000 units during April to December. The government’s growth-focused agenda should help drive demand for trucks during 2015 and beyond.

On the other hand, weak demand from rural and semi urban markets resulted in two wheeler sales moving on a downward path. Volumes grew by 11% to 12.14 million units during April to December, which was a 0.8% decline over the previous period. Harley Davidson, Hero, Honda, Kawasaki, Yamaha, Royal Enfield, Triumph and TVS grew during this period.

To conclude, the overall direction of the automotive industry remains positive with most segments showing moderate growth. The arrival of the 2015 model year and faster overall economic growth should help to drive volumes during the coming months.

17

NEWS - FINANCIAL SERVICES

FINANCIAL SERVICES

AWARDS & RECOGNITION• Mahindra Finance was recognised

for its Strong Commitment to HR Excellence by CII at the 5th National HR Excellence Awards, 2014. The ceremony was hosted in New Delhi on December 5, 2014.

• Mahindra Rural Housing Finance Limited (MRHFL) was awarded the Skoch Order of Merit on November 20, 2014 for Nurturing Creativity & Innovation. The Award considers corporate entities that have contributed significantly to India’s growth through an exemplary, sustainable and balanced business performance.

• Ramesh Iyer was adjudged the Best CEO - Financial Services Sector (Mid Cap) by Business Today at a ceremony held in New Delhi on November 28, 2014. Mr. Iyer was also shortlisted in the Top 5 list for overall Best CEO category.

LAUNCH OF MANTHAN – A MENTORING INITIATIVE FOR TALENT DEVELOPMENTManthan, a mentoring initiative was launched in September. The programme allows leaders of Mahindra Finance to work with high potential employees to build a relationship by offering guidance, support and encouragement. The initiative aims to provide a platform for both mentors and mentees to help them establish a reciprocal relationship through dialogue and collaborative learning.

FSS MARATHON RUNOn November 23, 2014, employees of the Financial Services Sector participated in the RISE RUN. The Marathon embodies all the three pillars of RISE. Subsequently, the RISE RUN has been conducted in all eight of the company’s zones, pan India.

IMPACT MODEL HUNT ORGANISEDThe Financial Services Sector organised a model hunt for IMPACT, the programme which addresses Integrity, Manners, Personality, Appearance, Compassion and Trust. To impart IMPACT values and internalise these behaviours in our employees, it launched the IMPACT Model Hunt. The Model Hunt received over a 100 nominations from which 12 finalists were shortlisted. The finale was held in Mumbai.

The winners of the IMPACT Model Hunt

The FSS Marathon Run is flagged off

18 ISSUE 4 • 2014

NEWS - AFTER-MARKET

AFTER-MARKET

MAHINDRA FIRST CHOICE WHEELS CREATES AUTO REMARKETING FORUM

India’s leading automobile exchange platform for used vehicle exchange

A mobile-based software for used vehicle inspections;

A platform to support clients in their vehicle life cycle management

A unique warranty product for customers planning to buy used cars.

India’s largest automotive pricing portal which includes IBB Trade (a platform where multiple dealers compete for vehicle trade-in), IBB Tractor (a pricing portal for used tractors), IBB Residual (price forecasts for up to five years), IBB Vincheck (a portal to check and identify the make, model, year and month of manufacture of the vehicle), IBB Agent (a portal for status of Registration Certificate (RC) transfer)

A comprehensive used vehicle inspection service

The Indian used car market is poised for discontinuous growth. From the current level of 3 million units which exchange hands annually, it is expected that the used car market will grow to a level of about 2.5 times the size of the new car market by FY19.

With a view to take this to the next level, Mahindra First Choice Wheels has created India’s first Auto Remarketing Forum, a forum targeted for the used vehicle industry in general. The first meeting of this Forum

Zirakpur franchise launch, Directors of Swami Auto Care with Y. V. S. Vijay Kumar, CEO, Mahindra First Choice Services

MAHINDRA FIRST CHOICE SERVICES OPENS 13 WORKSHOPS Mahindra First Choice Services expanded its pan-India network to 47 with 13 new Franchisee Owned Franchisee Operated (FOFO) workshops at Kolhapur, Moga, Aurangabad, Ambur, Thanjavur, Trichy, Coimbatore, Kurnool, Zirakpur, Chakan, Thane, Neyveli and Madurai.

Anand Mahindra, Chairman, Mahindra & Mahindra Ltd., & Ramesh Iyer, Managing Director, Mahindra & Mahindra Financial Services, with participants of the Auto Remarketing Forum

was held on November 26, 2014 at Gateway House, Colaba, Mumbai and saw industry stalwarts from across domains come together.

This forum also saw the launch of several products which use technology to ease used vehicle operations. These products are smart, simple, standalone tools that solve many challenges for every kind of customer including Consumers, Dealers, Financiers, Leasing companies and Manufacturers.

19

INFORMATION TECHNOLOGY

ODISHA CM INAUGURATES TECH MAHINDRA’S NEW IT BLOCKThe Chief Minister of Odisha, Shri Naveen Patnaik, inaugurated the new IT Block in Bhubaneshwar. The new building is based on modern architecture completely controlled through an Integrated Building Management System and has increased the total capacity of the Bhubaneshwar facility to 1,111 seats.

TECH MAHINDRA ACQUIRES LIGHTBRIDGE COMMUNICATIONS Tech Mahindra has signed an agreement to acquire global Network Services leader Lightbridge Communications Corporation (LCC). Headquartered in McLean, Virginia, LCC is one-of-the world’s largest independent global providers of Network Engineering Services to the Telecommunications industry, with more than 5,000 employees in over 50 countries. With annual revenues of more than USD 400 million, LCC has built 350 networks and designed more than 350,000 cell sites for over 400 customers worldwide. The acquisition positions Tech Mahindra as the pre-eminent partner for network services globally.

Tech Mahindra and Mahindra Engineering Services leadership team at the merger announcement ceremony

C. P. Gurnani, MD & CEO, Tech Mahindra, & Kenneth Young, CEO, LCC

NEWS - IINFORMATION TECHNOLOGY

TECH MAHINDRA COMPLETES MES MERGERThe merger of MES (Mahindra Engineering Services) and Tech Mahindra was completed as of December 8, 2014. MES is a leading engineering services provider to the global automotive and manufacturing industries. Headquartered in Pune, with branches and subsidiaries in the US, Germany and UK, it brings an Associate base of over 1,350 experienced engineers. The combined engineering breadth, depth and geographic scale will further strengthen Tech Mahindra’s leadership position in the engineering space.

20 ISSUE 4 • 2014

INFRASTRUCTURE AND REALTY

SKOCH ORDER OF MERIT FOR MWC, JAIPURMahindra World City (MWC), Jaipur was conferred the Skoch Order of Merit during the 38th Skoch Summit in New Delhi on November 20, 2014 for its Project – Women Empowerment: Parda to Prosperity.

FILTER COFFEE PERFORMS AT MWC, CHENNAIFilter Coffee, a young and zestful band performed live at MWC, Chennai on November 18, 2014 as part of the City’s Courtyard Performances initiative. The band enthralled the 300-plus audience with a unique fusion of Indian Classical/Carnatic music, textured sounds and electronic grooves.

“MWC, Chennai has been envisioned as a world-class integrated township offering a high standard of living to those working and living here. Courtyard Performances is our newest initiative in this space,” said S. Chandru, COO, Mahindra World City Developers.

MAHINDRA LIFESPACES ENTERS WEEKEND HOMES SEGMENTMahindra Lifespaces forayed into the weekend homes segment with The Serenes in October 2014. The first project of The Serenes is located in Alibaug, a favoured weekend destination for Mumbai’s elite. Tucked away just 0.7 km off Nagaon beach, this exclusive lifestyle villa project offers a private retreat. Designed by SAV, a well-known London-based architectural and design studio, the project comprises 49 villas, and is inspired by the ocean and the distinctive white sands of Alibaug.

Abhinav Singh, Manager (HR) MWC Jaipur (right) receives the award from Sameer Kochhar, Chairman, Skoch Group

Excitement galore at ‘Cubs of Cubbon’ Kids’ Nature Festival by Mahindra Lifespaces

3,4 BHK Luxury Weekend Villas at Alibaug

MAHINDRA LIFESPACES ORGANISES CUBS OF CUBBON FESTIVALMahindra Lifespaces organised Bengaluru’s first ever Cubs of Cubbon Festival at Bal Bhavan, Cubbon Park on December 7, 2014. The open-to-all festival presented children with an opportunity to connect with nature by providing over 30 nature-based workshops.

Over 3,000 children with their families participated in the event. More than 15,000 footfalls were received throughout the day. The Festival received appreciation and positive feedback from happy parents who flooded its Facebook and Twitter accounts. The #Cubs of Cubbon hashtag, used to promote the event across social media, generated over 82 lakh impressions in only seven days.

NEWS - INFRASTRUCTURE AND REALTY

21

MAHINDRA PARTNERS

NEWS - MAHINDRA PARTNERS

MAHINDRA LOGISTICS PARTNERS WITH IVC Mahindra Logistics partnered with Indian Vehicle Carriers Pvt. Ltd. (IVC) to form a new company called ‘2x2 Logistics’ aimed at launching assetised operations in automotive outbound logistics. Mahindra Logistics will have a majority stake in the new company, which will initially invest in 100 specially-designed car carriers to serve automobile and two-wheeler OEMs.

MAHINDRA SUSTEN – THE LARGEST SOLAR EPCMahindra Susten (formerly known as Mahindra EPC) is set to become the largest Solar EPC company in India in FY2015, having secured 210 MW of Solar EPC project orders. Mahindra Susten’s solar development arm has additionally secured 40 MW of orders at the recently concluded bidding, 10 MW under the Andhra Pradesh State Policy and 30 MW in Telangana State Policy at the highest tariffs.

MUMBAI MANTRA LAUNCHES ‘CINERISE 100’Mumbai Mantra, the Mahindra Group’s media and entertainment division launched its screenwriting initiative – ‘Mumbai Mantra CineRise 100’ in June 2014. Through this initiative, Mumbai Mantra aims to nurture 100 aspiring screenwriters and help them to pitch their scripts to potential producers, financiers, film festivals and agents. The second phase has been successfully kicked off with screenwriting workshops conducted by veteran screenwriter and academic, Anjum Rajabali.

‘Mumbai Mantra CineRise 100’ 2014

Super Auto Forge 1.06 MW Solar PV plant at Bommakottai, Tamil NaduSigning of the JV between MLL and IVC

22 ISSUE 4 • 2014

MAHINDRA HOLIDAYS

MAHINDRA DEFENCE

NEWS - MAHINDRA HOLIDAYS & MAHINDRA DEFENCE

Mahindra Special Services Group (MSSG) is honoured to have the opportunity to assist the UP Police in its endeavour to implement an integrated CCTV surveillance system in Lucknow.

MSSG will design and implement the surveillance network comprising 280 IP CCTVs, Automatic Number Plate Recognition System (ANPR), Video Analytics, Mobile Surveillance System, Command Control Centre and Data Centre. The project will cover 70 important locations in Lucknow, with a special focus on entry and exit points

NEW MILESTONE FOR MAHINDRA SPECIAL SERVICES GROUP

in the city, VVIP areas, and all critical and sensitive locations. The contract will have two phases. The first phase is the Implementation phase where MSSG along with its partners, will implement the Smart Surveillance System. In the Operation phase, MSSG will be responsible for maintaining the Surveillance System.

LAUNCH OF CLUB MAHINDRA TEDDY TRAVELOGUESMahindra Holidays announced the launch of Club Mahindra Teddy Travelogues, India’s first crowd sourced travel e-zine for children and by children. This is an industry-first initiative which compiles stories, thoughts and opinions written by kids.

Actor Tisca Chopra unveiled the first issue of the e-zine on December 18, 2014, along with Arun Nanda, Chairman, Mahindra Holidays, and Mumbai winner, Siri Parashar, a seven-year-old travel enthusiast from Thane. At the event, Mr. Nanda inspired the audience with tales of how he stays young at heart.

DEFENCE MINISTER VISITS MDS SIMULATORThe Honourable Defence Minister, Govt. of India, Shri Manohar Parrikar, visited the MDS Full Flight Simulator pertaining to one of the latest induction aircraft of the Indian Air Force. Also in attendance were the Air Chief and the Commander-in-Chief, Western Air Command, IAF. The Minister conducted a ‘sortie’ to understand the capability of the aircraft through the Simulator.

Deepali Naair, CMO, MHRIL, Celebrity Tisca Chopra, Prize winner Siri Parashar & Arun Nanda, Chairman, Mahindra Holidays at the launch of Teddy Travelogues

23

INDUSTRY SPOTLIGHT

BUILDING A CASE FOR SOLAR ENERGYGlobally 1,758 GW of renewable energy capacity is installed. Hydropower constitutes 74% of this; Wind, Bio-power and Solar PV are the other leading contributors. The contribution of renewables is on the rise, with 1,353 GW of renewable capacity being added only in the last 5 years. This incidentally accounts for 38% of the total capacity addition across the world during the same time. The share of Renewables in the total energy consumption is expected to go up from 9% (1.1 Billion TOE) in 2013 to 15% (2.6 Billion TOE) by 2035.

HELPING BUILD THE NEW, CLEAN AND SMART INDIA WITH A PROVEN TRACK RECORD OF:

Largest Solar EPC FY15

Patented products portfolio – MACXTM

First to commission plants in both batches of the National Solar Mission

Recognised as the highest generating plants consistently for the past 18 months and recipient of the Prime Minister’s award

ISO 9001-2008 I ISO 14001-2004 I OHSAS 18001-2007

Enhanced offerings in the Cleantech domain (going beyond solar)

Increasing per capita

consumption of electricity

Limited access

to electricity

Climate Change and Carbon Emissions

WHY DOES INDIA NEED MORE

RE IN THE ENERGY MIX?

CURRENT STATUS OF RENEWABLES IN INDIA

22 GW 3 GW 41 GW 8 GW

CURRENT INSTALLED CAPACITY OF 255 GW OF WHICH RE IS ~74 GW (NOV 2014)

Wind Solar Hydro Other RE* projects

*(Small Hydro Power / Biomass Power & Gasification / Bagasse Co-generation / Waste to Power)

Energy security

Mahindra Susten (formerly known as Mahindra EPC)

24 ISSUE 4 • 2014

EXPONENTIAL GROWTH FOR SOLAR IN INDIAAbundant resources: Irradiance levels greater than 5 kWh/m2 per day for over 330 sunny days

Abundant land availability

Reducing capex (~Rs. 15 Cr./MW in FY11 to ~Rs. 6.5 Cr./MW in FY15) and approaching Grid parity (i.e. Solar PV cost per unit at par with conventional grid tariffs)

Maturing technology with track record of 3 GW solar installations in India

Aggressive government incentives and fiscal benefits with revised targets of 100,000 MW of Solar power by 2022 (33x rise from current installed capacity)

OUR IMPACT:

5,000 acres of land and infrastructure developed

1,20,000 Local jobs created

1.5 Bn Units of electricity generated p.a.

55,20,000 MT of CO2 displaced

25 Lakh Rural Homes electrified every day

GROWTH STORY OF SOLAR IN INDIA (IN MW)

Solar is the best RE source for India given: Modularity I Scalability I Low gestation period I Approaching Grid parity

INDUSTRY SPOTLIGHT

OUR ROADMAP 2020:

1,000 MW of Renewable Asset development

40 Mn Sq. Ft. of Green Design-Build Projects

100 MW of Distributed solar installations

25

FY10 FY17eFY16eFY15eFY14FY13FY12FY11

6 85 284

1388819

1335

3350

6250

SHARE OF RENEWABLES (INCLUDING HYDRO) IN ELECTRICITY PRODUCTION

Source: https://yearbook.enerdata.net/#renewable-in-electricity-production-share-by-region.html

Norway

Brazil

Spain

Italy

Germany

USA

Japan

97.9

77.1

40.8

38.8

25.4

13.7

13.4

%

India 16.8

GOAL:

To become the most admirable Green Solutions company in India

China 20.7

25

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! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ?! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ?

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! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ?! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ?

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! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ?! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ?

! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ?! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ?

! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ?

MATTHEW WOZNYGlobal Recruit,

Mahindra Group Strategy Office

FOREIGN DESPATCH

DECIPHERING

CALLEDTHE PUZZLE

MATTHEW WOZNY, A 2014 GLOBAL RECRUIT FROM HARVARD UNIVERSITY, SHARES HIS EXPERIENCES OF WORKING AT MAHINDRA AND HIS IMPRESSIONS ABOUT INDIA.

Diwali celebrations in October at Mahindra Towers, Worli

Matthew outside Safdarjung’s Tomb in Delhi

K. N. Vaidyanathan (Chief Risk Officer) and Matthew participating in a Cleanliness Drive

26 ISSUE 4 • 2014

FOREIGN DESPATCH

Hi! I’m Matthew Wozny, a Global Recruit just out of Harvard University. Six months ago, I left my hometown – the City That Never Sleeps (New York) – and moved to the City of Dreams (Mumbai) to start working at Mahindra.

I’m often asked why I came here. It’s not complicated: I entered India to challenge myself. To wrestle with and learn from a culture entirely different from my own. To use that culture for facilitating introspection and gaining clarity on what I want to do when I go back. To stand out. Back in the USA, I’d have the luxury of home and family; here, I knew I’d have nothing unless I wanted it and pursued it. I came here to be hungry again.

What an adventure these past six months have been! I’ve walked during the monsoon – with drenched sneakers, not sandals, mind you – looking for a store Google Maps just couldn’t locate, praying the weather might soon change. I’ve spent one very hot October standing, feeling sweat slipping down my spine, and wishing the monsoon rain would come back. I’ve taken the Virar Fast local train (accidentally) from Churchgate but managed, somehow, to squeeze out at Bandra Station. Those who saw me jump off the platform in time -- I swear to you -- say it was nothing short of a miracle.

I’ve eaten food that not only made my mouth water, but my forehead, eyes, and even my nose! I’ve had a monkey jump on my back in Sanjay Gandhi National Park. And a python cross my path at night, on kilometre 80 of a 100 kilometre run. I’ve seen empty tombs in Delhi that filled me with awe. And I’ve celebrated upbeat festivals in the streets and at the office together with this celebratory country. I’ve experienced things I would never have experienced back home.

India is a country of sensory overload. The congestion of traffic, the smell of fish and fruit, the honking, the chinks and thumps of construction, the population density, the smog and the sun – it all just kind of hits you. You all already know this. And I had been told this before coming, but I didn’t internalize it until I experienced it myself.

On the one hand, this overload has been difficult to navigate. I’ve realized Indians are jacks of all trades when it comes to languages, and of the many they know, I only speak one. English. I’ve found group conversations

at work and with friends, where there are constant switches between Hindi, English, and many regional dialects, sometimes difficult to follow and participate in. The perennial reincarnation of street names, landmarks, and stores means I’m directing rickshaws with broken Hindi and even worse English.

On the other hand, this overload means that regular meetings, which can feel tiring back home, are interrupted with tea and biscuits, text messaging and calls, observations and jokes. It means that I hear the howl of dogs and see the glaring eyes of a family of Matheran monkeys in the seconds before I go to sleep. On the other hand, it means that India does not allow for even one dull moment.

There are things I love about India: its food, its rich cultural heritage, its chattiness, its penchant to share and explain itself openly. Yet, there are other things about India that I hate. Six months in, I still hate its deep socioeconomic and gender inequality, and I’m discouraged by its lack of cleanliness, though I’m proud to work at a company which is trying to solve some of these problems.

Then there’s the time zone difference. I wake up to missed basketball games, emails from friends, and media coverage of national news back home. There’s only a two hour pocket at best each week to talk to and catch up with friends and family. Time zone differences are tough. It’s a tortuous daily reminder of how far away I really am from what matters to me most.

It’s at those times that I appreciate the extended family culture here. Mumbaikars meet me with openness and introduce me

I’ve eaten food that not only made my mouth water, but my

forehead, eyes, and even my nose! I’ve had a monkey jump on my back in Sanjay Gandhi National Park and

a python cross my path at night. I’ve experienced things I would never

have experienced back home.

to friends freely. Families tack onto me the moniker of ‘adopted son’ when speaking with co-workers or guests about me. At the Office of Risk Management, we share food and stories about our successes and those of our families. We support each other in projects and the resulting feeling is one of family. And this seamless switch between the professional and the personal, I think, builds trust in a way that I don’t think would happen in the United States.

I’ve still got one and a half years left to learn from this country and contribute to Mahindra. As I transition soon into a sector, I can’t wait to accrue new, defining experiences.

Perhaps I’ll soon have a go at cricket.

Matthew, Rudra Chauhan and Manmohan Singh complete a 100K Oxfam race finishing 2nd

The risk management team with Matthew

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RISE FOR GOOD

Empowering the Adivasi Community at Araku ValleyIt’s 4 pm on a weekday afternoon and Indigo Deli, a chic restaurant in Mumbai’s tourist hub of Colaba is buzzing with young executives, tourists and families. As servers hurriedly rush from one table to the next, the aroma of freshly ground coffee wafts through the room, softly swirling from table to table. But the beans that result in the delicious espresso, cappuccino and macchiato served here have an unlikely source located many miles away.

The lush valley of Araku is a hill station situated in the state of Andhra Pradesh, gently cradled between the Galikonda, Raktakonda, Sunkarimetta and Chitamogondi mountains. Home to various tribes, the valley is one of the least polluted and commercialised tourist destinations in South India. The Araku Valley is renowned

for its picturesque coffee plantations, and India’s first tribal growers’ organic coffee brand, Araku Emerald, was launched here in 2007. Thousands of tribals in the area are engaged in coffee cultivation as farm hands or small farmers.

The Adivasi community in Araku already had a robust centuries-old food cropping pattern that is subsistent by nature. But a traditional production system is inadequate without technological improvements and resource planning to feed an increasing population. Additionally, modern life mandates sufficient cash income for health, educational and other aspirational needs. In consultation with the Adivasi community, the Naandi Foundation evolved a horticultural development template on marginal, degraded community lands to enrich their local nutrition, their ecosystem and augment the community’s disposable income.

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RISE FOR GOOD

LENDING A HELPING HANDThe Naandi Foundation is one of the fastest growing social sector organisations in India which has enabled marginalised communities to break the vicious circle of poverty. Naandi began the first integrated development programme in the Araku region. To counter challenges like low female literacy, high infant and maternal mortality and low agricultural productivity, they opened community schools and also helped the Adivasi farmer community to form the largest organic coffee cooperative in the world -- the Small And Marginal Farmers Mutually Aided Cooperative Society (SAMTFMACS).

Naandi Foundation’s work in the Araku region began over 15 years ago and embraces the Adivasi values of caring for the community and the forests. This makes the programme a success today as it continues to impact 1,00,000 Adivasi lives.

The farmers grow arabica coffee bio-dynamically, using bio-fertilisers, bio-pesticides and encouraging natural predators such as spiders and ladybirds to keep pests under control. Coffee is harvested and processed and then exported with an international organic and fair-trade certification. Farmers also grow food crops to provide a nutritionally rich food basket for the family which includes varieties like papaya, mangoes, mud apples (chikoo) and oranges.

‘Fair trade’ coffee grown organically and mostly exported overseas, is now a viable livelihood option and brings the coffee-growers annual incomes of Rs. 100,000 plus. The coffee cooperative ploughs back the profits into village development projects like healthcare, ambulances and drinking water.

The youth of these hills have also been united through sport, especially volleyball. The 240 youth teams created here have helped youth congregate and engage in the larger development agenda.

The Araku Coffee brand is therefore, all about creating a holistic approach to livelihood for the Adivasi community.

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RISE FOR GOOD

The successful implementation of the Haryali project has been due to Naandi’s established cooperative partnerships with farmer groups and extensive consultations with village assemblies. In these participatory meetings, the purpose of this programme, its major objectives and possible impact was explained. The project includes non-forest, degraded plots which have been jointly identified for each village.

Facilitated by the Naandi staff, farmers joined in a group based analysis to sketch each of the 341 villages showing details concerning different land use and land use changes over the last 20 years and identification of the planting plots. Such an assets’ inventory / land use sketch is the first of its kind for the region. Naandi then identified an active tribal farmer in each village as a Village Horticulture Coordinator (VHC) who has been trained to function as a key resource for driving the programme agenda. The VHC, along with local village leaders and programme farmers formed the Village Development Committee (VDC) in each village. The VDC has mobilised the farmers to share the responsibilities of clearing the land, digging the pits, applying the manure, collecting and planting the

ENHANCING BIODIVERSITYThe large-scale replication of the Araku model into the neighbouring mandals caught the attention of the Global Livelihoods Fund, an innovative carbon offset fund based in France, which has given grants to the community to enhance biodiversity in the Araku Valley. The farmers have planted over 3 million saplings of 18 varieties of fruit and timber trees apart from cultivating coffee, vegetables and black pepper.

The project - called Mahindra Hariyali - seeks to transform a degraded landscape into a ’functional forest’, improving food security and generating additional income for the community. The project envisages planting of 6 million trees (3 million fruit and timber trees and 3 million inter-cropped companion species) across 341 villages covering 6,000 Ha of land and involving15,000 Adivasi families in six years from 2010 to 2015.

Building on the success of the past 5 years, the Mahindra Group remains committed to social and environmental responsibility and has extended its support to grow a further 3 million trees and coffee saplings over the next 3 years.

saplings, harvesting water, constructing tree guards, fencing the plots and nurturing and protecting the young saplings. This has created a sense of ownership among the farmers.

Needing minimal or no external inputs and utilising local and naturally available material to produce high-quality produce, the programme encourages sustainable agro-forestry farming which has a long-term impact. It integrates people with tree-planting in a mutually beneficial relationship.

The community now has multiple agri-options that eliminate the risk of economic distress with assured nutritional crops, support for coffee production and marketing and a diverse and resilient agro-forest.

Poverty is not an absence of wealth but rather an absence of efficient social and economic institutions. Haryali aims to address this issue and subsequently restore prosperity to the Araku region. Both the coffee cooperative and the biodiversity programme are founded on the concept of shared value, of finding a way out of poverty, and the way for good, resonating with the philosophy of Mahindra Rise.

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RISE FOR GOOD

INNOVATIONA CULTURE OFNURTURING

SOMETIMES SERENDIPITY STRIKES IN THE UNLIKELIEST OF PLACES. FOR KUNAL BHAT, PRINCIPAL TECHNICAL ARCHITECT, TECH MAHINDRA, IT STRUCK ON A DIMLY LIT STAIRCASE ON THE WAY TO THE OFFICE CANTEEN. LOST IN THOUGHT, HE BUMPED INTO A WALL. WHAT MANY WOULD HAVE DISMISSED AS A MILDLY IRRITATING MOMENT HOWEVER, RESULTED IN A PROFOUND EPIPHANY FOR THIS YOUNG INNOVATOR.

“At Tech Mahindra, we encourage employees to participate in periodic contests with innovative ideas. The Intrapreneurship contest was one such contest in which I intended to submit an idea. I was engrossed in thinking really hard to find an appropriate solution while walking down the stairs to the canteen, when I walked straight into the wall. That proved to be the insight I was seeking. I realised that I – with all my visual faculties intact - was so busy thinking that I didn’t ‘see’ the wall. Hence, what do visually impaired people experience in similar situations? The idea for sZenseEYE then took root in my mind,” reminisces Kunal.

Team sZenseEYE1 Umesh Joglekar – Principal Architect2 Anand Kumar – Tech Lead3 Rajendra Athalye – Sr. Technical

ArchitectKunal Bhat – Principal Technical Architect

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left, a couple of feet away, and another to the right, about four feet away, the HF mechanism on the left quadrant will vibrate with a lesser frequency compared to the right, thus giving the user a ‘feel’ of how the world within a radius of five feet is organised around him/her. This allows the user to get a continuous ‘feel’ of things in his/her surroundings. He or she will also be able to anticipate obstacles and take preventive measures to avoid potential collisions.

For Kunal, the journey to creating sZenseEYE proved to be an interesting and educative one. “We faced several challenges in product development, right from initial feasibility to actually programming the technology. I had to first convince myself that the idea would work before I could present it to the management. This meant I had to wear the hat of an engineer and hard core developer. In fact, the first prototype was handcrafted by me.” Kunal also had to learn some very tough technology, including micro-electronics, PCBA assembly, computer vision and android assembly in a very limited time frame.

Tech Mahindra management was suitably impressed with the prototype and gave

Kunal’s innovation helped him win the contest, earning him the moniker of Tech Mahindra’s very first ‘Intrapreneur’.

The name was coined keeping in mind the core functions and principles of the concept. ‘sZense’ is similar to ‘sense’ and implies ‘sensory feedback’. ‘Zen’ is Japanese for inner vision which refers to the spatial maps created within and ‘EYE’ refers to the camera on the user’s mobile phone, or the virtual eye. sZenseEYE is similar to ‘sensei’ which means to ‘ guide’ in Japanese. Thus, sZenseEYE is a guide that uses a virtual eye to provide the user with inner vision through the sense of touch.

To put it simply, sZenseEYE combines the simple smart phone camera with a specialised ‘smart glass’. The phone camera scans the user’s environment and detects potential objects of collision. It then calculates their distance from the user and transmits this information to the smart glass. The smart glass is equipped with a spider frame consisting of a Haptic* Feedback (HF) mechanism which then gets activated.

For example, if there’s a chair to the user’s

Kunal the green signal to develop the product further.

For the next version, this young ‘Intrapreneur’ plans to incorporate features such as location and direction feedback, audio feedback, inter-device communication, cloud based analysis, context-sensitive analysis and collective intelligence.

Over the next one year, Tech Mahindra intends to make sZenseEYE a part of its corporate social responsibility activity and is running a pilot in Bangalore along with two voluntary organisations. Six visually impaired people from two non-governmental organisations have volunteered to carry out the user trials for sZenseEYE.

Tech Mahindra is actively looking at this as an investment, says Sirisha Voruganti, global head — innovation. “Any big company will look at the next leap in technology or rather, at spaces where the next billion dollars will come from,” she explains.

The world may be an intimidating place for most visually challenged people but thanks to the efforts of people like Kunal, it might get a bit easier to traverse it with sZenseEYE.

• image process • depth analysis & object identification

• GPS & navigation • voice feedback

• standard voice commands • proximity sensing

• input signal processing

• fuzzy analysis

• haptic feedback

• proximity sensor processing

GPS navigationBluetooth

RISE FOR GOOD

The sZenseEYE Concept

32 ISSUE 4 • 2014

RAJESH MEHTA @rajeshpm2109

Back from Mahabaleshwar. Wonderful weather and people. Strawberries everywhere. Stay at club Mahindra lovely and memorable.

A @AashiiChoudhary

Beloved #MahindraBolero .. Somewhere in #LahaulValley, on the way to #KunzumLa@anandmahindra

VISHAL SINGH @vishalksingh9

Thanks #Mahindra 4 making such a fantastic machine; making it easier 4 us 2 ‘get lost’ so often. #MahindraAdventure

@MAHINDRABLUES is now the largest Blues community in the world! Here’s to living, loving and sharing the Blues!

PERFORMANCE FACTORY @officialPF Jan 21 Nashik, Maharashtra

@anandmahindra Feels #Proud to see an #Indian Brand supporting Motorcycle racing ! Kudos Team #MAHINDRA

33

“MY LOVE FOR MOVIES and filmmaking goes back to my childhood days,” says the Chairman of the Mahindra Group. “In fact, not too many people know this but my mother, Indira, in addition to being a college history teacher, was also a stage and film actor. She came to Bombay to join the movie industry but after making one film with director Kishore Sahu, she met my father and left the industry.

However, her interest in cinema endured. In the 1960’s, while I was in school in Mumbai, she had a very dear friend called Abad Karanjia who was the resident film critic at The Times of India. Abad’s husband, B. K. Karanjia, was the erstwhile editor of Screen magazine.

Abad would invite my mother for special movie premieres screened at the Eros Preview Theatre and I would often accompany her. It was Abad’s extensive knowledge of film that fuelled my interest in films and filmmaking.

My father was also very fond of film and was most thrilled when I finally told him that this was the profession I wished to pursue. In fact, he was quite disappointed when I chose corporate life as he had envisaged a lifetime of free movie tickets!” he laughs.

AFTER HOURS

MOST PEOPLE KNOW HIM AS THE VISIONARY LEADER OF ONE OF INDIA’S MOST RESPECTED AND DIVERSIFIED BUSINESS GROUPS, AS AN ARTICULATE SHARPSHOOTER WITH A KEEN EYE ON THE BOTTOMLINE AND AS THE MAN WHO DREAMS BIG AND ASPIRES TO MAKE

MAHINDRA ONE OF THE TOP 50 MOST ADMIRED BRANDS IN THE WORLD. BUT LONG BEFORE THE

BOARDROOM BECKONED, ANAND MAHINDRA WAS CONSUMED WITH A PASSION OF A VERY

DIFFERENT KIND.

FROM STUDYING CINEMA TO INVESTING IN FILMS ANAND MAHINDRA REMINISCES ABOUT HIS KEEN

INTEREST IN MOVIES.

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AFTER HOURS

However, the Indian education system at the time was not very focused on the liberal arts and it was a while before Anand could realise his dream. “I graduated at the head of my class in boarding school and at that time, if you were a good student, you were more or less destined to study science, join an IIT and become an engineer. So, I joined Agarwal’s Classes to study for the IIT entrance exams. But one morning I realised this was not the path I wanted to pursue. I had excelled in science but that was more due to my ‘beating the exam system’ rather than out of a genuine passion for the field.

I quit and joined Elphinstone College to study economics and I was there for all of one week during which time all we did was sit at the back of the class and make funny sounds to annoy the professor! I knew I wasn’t going to learn much there!

I was still very interested in film but it was a bit too radical a choice of profession for the times, so I opted for architecture which was viewed as a respectable midpoint between science and the arts and a credible way to earn a living.

I joined the Sir J. J. College of Architecture but as fate would have it, the college went on strike soon after and I found myself

part of protest marches organised to get government recognition for the institution. After the initial excitement wore off, I found myself back to square one and decided to leave India to pursue studies overseas.”

Anand was accepted at four colleges to study architecture, Cornell, the Rhode Island School of Design, the Illinois Institute of Technology and Harvard, which became his ultimate choice. “Harvard had a terrific school of architecture but no degree course in the subject, which turned out to be a blessing as that meant that I was not forced to specialise in a single subject. That’s the beauty of a Liberal Arts degree and studying at Harvard, I felt like a child playing in a sandbox! There was so much to explore. I took courses in a wide array of subjects that interested me including physics, math and science, in addition to Architecture.”

Incidentally, filmmaker, Mira Nair and screenwriter and photographer, Sooni Taraporevala who later collaborated to make the Oscar nominated Salaam Bombay, were among his contemporaries at Harvard. Anand went on to major in Visual and Environmental Studies which covered various disciplines including photography, art, drawing and film.

His thesis film saw him travel back to India. “I was at an age when one questions the meaning and purpose of life and it was this existentialism that fuelled my drive to make this movie. I was greatly influenced by the French New Wave or Nouvelle Vague, so my film had a strong flavour of Cinema Realite. I filmed myself journeying to Rishikesh to meet a Sadhu, Bankhandi Baba who was in a sense, an exile like myself. Just as he had renounced the world to live the life of an ascetic, I too had left my native land in search of distant shores. I wanted to understand the role of isolation and search for meaning while in exile.

In the film, aside from a few yogic asanas and aphorisms, I learnt very little from the Sadhu and I then decide to travel to the Kumbh Mela which happened to be taking place that same year. And when I see the large numbers of people who came seeking salvation, I realise that the answers to my questions lie in the eternal flow of the river Ganga.

The Ganga and the metaphor of the river is what ultimately unites us all in our quest for a higher purpose and meaning in life.”

Completing the film gave young Anand a great sense of satisfaction and purpose,

“Film was a chance for me to prove that I could carve out my own space.”

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making it a time in his life that he looks back on with great pride. It also gave him the opportunity to disprove those who thought that his professional achievements were directly linked to the legacy he had inherited. “People often ask me why I chose filmmaking. I have always been something of a non-conformist and in a sense, I was rebelling against my circumstances. Film was a chance for me to prove that I could carve out my own space and this is something that has given me a great deal of confidence in my innate abilities and stood me in good stead throughout my life.”

Yet, this pride and satisfaction was tinged with sadness as a portion of the film was irretrievably lost. “My sponsor for the film was the Head of the Department of Anthropology and Filmmaking at Harvard. He was making a movie on Nathdwara and I helped man the camera at Udaipur during his shoot. He left India before I did and decided to take back some of the footage of my film so he could begin processing it.

A week later I received a letter from him informing me that his bag had been stolen at Milan airport and that in spite of an extensive search, the footage could not be retrieved. I was completely devastated. Unfortunately, this was long before the days of digital footage which meant that I will never know exactly what footage was lost. However, when I look back, I realise that my ability to withstand loss had been forged to some extent by this experience.”

The lure of the arc lights has not dimmed, and Anand’s passion for cinema continues, finding expression in his professional life. In 2013, he invested in Epic TV, a niche channel, which showcases content based on India’s history, folklore and mythology in a contemporary format. This was followed by the launch of Cinestaan Entertainment along with Rohit Khattar, a creative entrepreneur with interests in hospitality and entertainment, with plans to produce films.

“The key is to try and raise the quality standards of media and entertainment in India. With Epic TV we intend to harvest and mine our rich folklore, while with Cinestaan the main focus is to back outstanding directors and encourage them to enhance the standard of filmmaking in India. In fact, we recently signed a three-film agreement with Rakeysh Omprakash Mehra who is one of India’s most creative directors.”

Anand also did a stint on the Board of Trustees of the Sundance Institute, a global non-profit organisation founded by acclaimed Hollywood actor Robert Redford. Sundance seeks to discover and support independent film and theatre artists in the United States and around the world, and to introduce audiences to their work.

“Sundance proved to be an outstanding experience. The institute has been shaped by the philosophy of Robert Redford whose intent was to create an alternative space for filmmakers in America to make offbeat, independent cinema, as he felt Hollywood was getting too commercialised. Apart from the festival, I have been inspired by the way in which they create an ecosystem for filmmakers. It’s very business-like in nature and resonates with the Mahindra philosophy of Rise. My daughters were most pleased of all as they felt I was finally part of a ‘cool’ board!

Is there any one film or director that has greatly influenced him? “There are several actually. I was very influenced by the French New Wave, especially the cinema of directors like Alain Resnais, Jean Renoir, Francois Truffaut and Jean-Luc Godard. But I have to say Frederico Fellini’s 8½ and Claude LeLouch’s A Man And A Woman are two of my favourite films. Andrei Tarkovsky’s Andrei Rublev and Orson Welles’ Citizen Kane are two other masterpieces that have also had a profound influence on me.”

A few years ago, life seemed to come full circle as his daughter, Aalika, decided to study film. “Aalika wanted to attend the New York Film Academy as opposed to pursuing a conventional degree. I was a bit apprehensive about her decision till my mother reminded me that she and my father had allowed me to find my own way in the world, that they had never questioned my decision to become a filmmaker, which was a fairly radical one for the times. That was a truly humbling moment for me.”

Any dream project? That one movie he would make if he had limitless resources? Anand beams, “An Indian James Bond! Contrary to all my earlier talk of New Wave and art house cinema, I’d love to get a director to make an outstanding Indian version of this spy classic!”

We know who would fit the lead role perfectly!

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Anand with his wife, Anuradha, and parents, Indira and Harish

Graduation Day at Harvard

Anand during his filmmaking days

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AFTER HOURS

36 ISSUE 4 • 2014

RACING AHEAD

Mufaddal Choonia, Chief Executive Officer,

Mahindra Racing, talks about the company’s

new development centre in Italy and its

growing ability to design racing motorcycles.

SPECIAL FEATURE

37

What was the main strategic objective for setting up the new racing R&D centre in Italy?Mahindra Racing has always participated in various motorcycle racing championships around the world as a constructor, i.e. as a company that manufactures racing bikes. Till now, we have had strategic partnerships with a few vendors for technology development of our racing bikes, where the partners took a lead and Mahindra Racing played an important supporting role. Since the 2014 season, roles have been consciously reversed, with Mahindra Racing playing the lead role and its partners, that of a supporting one. This was important from our perspective since we wanted the technological know how and expertise to reside with us so that it could, in future, be used for both Mahindra Racing’s growth and at some stage soon, be useful to Mahindra 2 Wheelers in the development of its high-performance motorcycles. To meet these core objectives, it was mandatory to have our own design, development and manufacturing base in Europe.

What are the unique features of this facility in terms of its design, technology, work processes and so on?This facility is entirely self-sufficient in terms of its capabilities to design, develop, validate and manufacture racing motorcycles. We have the latest design and development tools required for this purpose and it is also a completely integrated facility where a cross-functional team of engineers from design, development and testing, vendor development, quality control and customer care and support are co-located in a compact, but completely self-sufficient centre. This helps us resolve any issues with speed, be it related to performance or reliability, which is core to success in racing. I can attribute this approach to my first assignment in our Group in IDAM, when I was part of the core team that was responsible for the development of the iconic Scorpio. This integrated approach at Mahindra Racing is similar to what we followed at IDAM for the Scorpio.

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3 4

Bike Component Quality Control Tests

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Assembly of customer bikes in progress1 3 4

The Mahindra Racing Team2

&

38 ISSUE 4 • 2014

Tell us about the type of design and development work that will be done at this facility?Everything that is required for the development of a racing motorcycle will be done at this new facility. We have design engineers who are involved in the core design of the engine, chassis and other critical components of the bike like the electrical and electronic components. We also have a development and testing team which tests the prototypes of bikes both in the labs, on the engine / rolling dynos, as well as on the track. This team provides track and lab data to the design team to incorporate improvements that are required in the design either from a performance or reliability perspective. We also have a small prototype shop where we can manufacture some small parts, if required.

With the move to constructor status from 2015 how will this facility help in supporting customers? As a full-scale constructor, we now commercially supply our bikes to other private racing teams. At our development centre in Italy, we have a team of engineers who handle vendor development, quality control and sourcing of parts, just like we do for regular production vehicles. We also have a track support team that is similar to a ’customer care’ team, which works with the customer’s engineers during the race weekends. Our team provides them with relevant data and expertise required, to help them set up their Mahindra MGP3O racing bikes to ensure optimal performance during the race weekends. We also provide spare parts support on track in case customers run out of stock due to any reason. This ensures the Mahindra MGP3O is always ready for ’track duty’. Our development centre thus provides us with a base for all these activities and helps us give greater value to our customers.

How will this centre work with other Mahindra research facilities in India and around the world?This centre is part of the Mahindra Group’s neural network of innovation, which is essentially a group of design and development facilities across the world. Each centre has knowledge in various aspects of automotive design and development. What we have thus created at Mahindra Racing’s centre in Italy is the capability to design high-

performance motorcycles, which will serve the requirements of Mahindra Racing for its future growth, while also supporting any specific needs of Mahindra 2 Wheelers as far as performance motorcycles are concerned.

What are your goals for this new centre in the coming year?The set-up of the centre and recruitment of the core manpower is almost complete. The primary goal for this year is to design and develop the new Mahindra MGP3O to be used for the 2015 and 2016 racing seasons. The challenge is in making an already very competitive machine, even more competitive, while staying within the prescribed technical regulations for the world championship and other national racing series. The team has some exciting ideas, which need to be executed. We will also start work on a new platform for the next generation Mahindra MGP3O in the second half of 2015. We hope to have it ready for the 2017 racing season. The racing business is unique since the deadline for project delivery - the first day of the start of the new racing season - is cast in stone. Manufacturers have to necessarily ensure that the product is ready for delivery to customers on that day, because if it is not, that essentially means losing out on the whole season. In conventional product development one does have some flexibility on product launch dates. This is not the case in racing. So we work on a few projects, but with deadlines which are not possible to miss by even a day.

What we have thus created at Mahindra Racing’s centre in Italy is the capability to design high-performance motorcycles, which will serve the requirements of Mahindra Racing for its future growth

SPECIAL FEATURE

Development Centre Entrance

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VAIDY’S MUSINGS

BLACK & WHITE…& GREY

1 I read somewhere that we don’t use more than 25-40% of the area of the

house on a daily basis. That sounds just about right, doesn’t it? The kitchen is used for maybe 8 out of 24 hours. A bedroom? For 12 out of 24. And bathrooms, 4 out of 24. At best. How I wish my bedroom could become part of my living room when I invite friends over. I know walls have ears; could they grow some legs and move too? Are any walls listening?

2 If there’s one thing I’ve learned in life, it’s that nothing is ever all good or all

bad, all black or all white. What’s happening with oil proves it. Sure, the country will save between USD 50-100 billion a year, and this’ll help improve its fiscal deficit. But, on the other hand, India’s major trading partners, Russia and most of the Middle East, will see economic slowdowns that impact India’s exports.

3 Wouldn’t you know it? The World Cup is around the corner again, and India

is the defending champion. While our recent poor show has dampened fans’ spirits, I can’t help but like our chances. Look: the World Cup isn’t Test cricket. No twenty wickets to be taken. No bowling out opponents even once. One-day cricket is tilted towards batting and batting is India’s edge. Managing a one-day game is Dhoni’s strength. So, it is time for GO INDIA GO.

4 Has anyone noticed how much of a contrast PM Modi has been

to the campaigner Modi? A combative and aggressive performer has given way to a statesman and an idealist. He has repositioned India’s presence on the global map by placing foreign policy front and centre. He has launched idealised slogans of Swachh Bharat, Make in India and Digital India, which will need a longer time to realise. The new Modi has succeeded in managing expectations, ensuring execution efficiency and dealing with the fragile patience of the polity.

5 Whoever said English is simple? Goods sent by ship are called ‘cargo’ while

those sent by road are called ‘shipments’.Who came up with this stuff? And we use ‘right’ to mean everything from ‘correctness’ to ‘capitalism’, from ‘religiousness’ to ‘conservatism’ to even ‘entitlement’. I wonder: Is everything right about the meaning of ‘right’?

6 You know, marketing is what teaches you to distinguish between features and

benefits. Features being the characteristics a manufacturer provides and benefits, what the consumers perceive. In perfume, ‘fragrance’ is the feature, but the benefit is ‘hope’. In Deewar, on the other hand, ‘mere paas maa hai’ was both a sharp feature and a stinging benefit.

7 If I had to equate the Indian market to an animal, it would be a tiger. Don’t you

think so too? Value-conscious consumers do lie low when times are tough, but they remain hungry. Their demand does not disappear – it is just postponed. Then, as soon as the mood swings positive, they pounce, and the Indian market roars in a sharp, surprising turnaround. Running a business in India is certainly not for those who are scared of tigers.

8 I used to enjoy bargaining with vendors. At the end of it, I felt like a boxer

delivering that final knock-out punch. But I then realised how momentary my glee really was. You see, self-doubt would soon take over and I’d ask myself, ‘Could I have bargained more? Would he have sold it for less?’ Lo and behold, I discovered the winner’s curse. Ever since then, no bargaining–and no boxing– for me.

9 The global financial crisis exposed the excesses of the financial world –

excess leverage, excess risks, excess … excesses. Central banks tried to address this by printing money, the world’s biggest coordinated event. Yet this incremental money supply has gone primarily into risky financial assets. Low interest rates have encouraged more borrowing. Have we really solved the problem? What if we’re adding to it?

10 Sleep can be associated with almost anything. Anything, of course, except

speed or energy. After all, it is a state of rest. Then, someone please tell me, how could anyone be ‘fast asleep’? My war with English continues.

Ciao,

VaidyP. S. I was teaching my 9-year old daughter in her

Social Studies subject about 2 kinds of natural

resources: exhaustible and inexhaustible. I asked her,

“Give me an example of an inexhaustible resource.”

Pat came the reply. “STUDIES!” I gave up.

40

VAIDY IS THE FOUNDER, SELF APPOINTED CHAIRMAN AND LONE MEMBER

OF THE AMITABH BACHCHAN FAN CLUB IN HIS SCHOOL IN CHENNAI

(MADRAS THEN) IN 1974, IN THE MIDST OF ANTI-HINDI AGITATION. AND,

WOULD YOU BELIEVE IT, HE IS THE CHIEF RISK OFFICER OF MAHINDRA.

40 ISSUE 4 • 201440

7 PEAKS. 7 CONTINENTS. 2 GIRLS.

TWIN SISTERS CONQUER ALL

THE MAHINDRA GROUP IS PROUD OF THE

SISTERS’ SUCCESS AND RESILIENCE AS THEY

ENCOURAGE WOMEN EVERYWHERE TO RISE

ABOVE THE ORDINARY. THE GROUP HAS,

THEREFORE, SPONSORED THE FIRST LEG OF

THEIR EXPEDITION.

7 SUMMITS

4184 mtsMt McKinley

6562 mtsMt Aconcagua

4802 mtsMt Vinson

5842 mtsMt Elbrus

5895 mtsMt Kilimanjaro

284 mtsMt Carstensz Pyramid

3849 mtsMt Everest

Audacious plans, dauntless courage and

noble ideals mark two sisters’ mission

#Mission2For7. Nungshi (Manipuri for

‘love’) and Tashi (Tibetan for ‘good luck’)

Singh Malik are 23-year old identical

twins from Haryana, India, who have

scaled Mt. Kilimanjaro (Africa),

Mt. Everest (Asia), Mt. Elbrus (Europe),

Mt. Aconcagua (South America),

Mt. Carstensz Pyramid (Australasia),

McKinley (North America) and Mt. Vinson

(Antarctica).

The girls entered the ‘Hall of Fame’ for

mountaineers, the seven summit club,

the Limca Book of Records and the

Guinness Book of World Records (for

being the first siblings and twins in the

world to scale all the 7 tallest peaks)

with this feat.

These intrepid explorers are now aiming

for the ‘Explorers’ Grand Slam’ which

involves skiing to both the North and

South Pole, a feat no South Asian has

achieved so far.