I am optimistic that history will indeed repeat itself: Anand Mahindra

M&M is seeking to replicate the success of yesteryears (2002) in terms of profitability and growth and bringing back the sharp focus on financial returns, Anand Mahindra said at the firm’s 74th annual general meeting on Friday.

“Life has led us full circle,” said Mahindra, alluding to 2002. M&M, which till then was a blue-chip stock, had hit a rough patch with its share price plunging to Rs 56 and it was removed from the Nifty companies. That is when it committed to a focus on financial returns. And, it paid off handsomely. It doubled its profits in a year’s time