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Mahindra & Mahindra Financial Services Ltd.

BSE: 532720 Sector: Financials
NSE: M&MFIN ISIN Code: INE774D01024
BSE 00:00 | 02 Dec 229.00 8.70
(3.95%)
OPEN

220.10

HIGH

230.40

LOW

219.65

NSE 00:00 | 02 Dec 229.00 8.70
(3.95%)
OPEN

219.75

HIGH

230.40

LOW

219.45

OPEN 220.10
PREVIOUS CLOSE 220.30
VOLUME 300464
52-Week high 235.00
52-Week low 127.95
P/E 12.83
Mkt Cap.(Rs cr) 28,295
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 220.10
CLOSE 220.30
VOLUME 300464
52-Week high 235.00
52-Week low 127.95
P/E 12.83
Mkt Cap.(Rs cr) 28,295
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Mahindra & Mahindra Financial Services Ltd. (M&MFIN) - Chairman Speech

Company chairman speech

Dear Shareholders

2021 was another year of extraordinary global turbulence with therecovery from COVID-19 painting a mixed picture across the globe. During thisunprecedented crisis we remained proactive in our decision-making to build teamresilience preserve business continuity and reinforce customer- centricity. Throughoutthis period we ensured the wellbeing of our people and supported our customers andcommunities. The undeterred spirit of our colleagues has been exemplary and I amextremely proud of how we have all come out of 2021.

The overall Indian economic activity and output has recovered graduallysince then and surpassed the prepandemic levels. As per projections from the InternationalMonetary Fund the Indian economy is expected to deliver a growth of 8.2% in FY2023 and6.9% in FY2024. These estimates have pegged India as one of the fastest growing majoreconomies in the world. We are cognisant of the headwinds brought in by globalgeo-political tensions elevated commodity prices supply chain disruptions and risinginflation and are confident to remain nimble to changes and steer through these muddywaters.

In the last fiscal we revalidated our business model. We took stock ofsome of the challenges we faced especially the volatility regarding the asset quality. Wehave set up mechanisms which shall provide early warning signs to enable us to take timelyaction. We will continue to leverage digital tools and data intelligence to drive scalestable asset quality cost effectiveness and customer experience.

We are currently in the process to drive a multi-year transformationagenda which shall enable us to scale profitably. For this we have built plans to investsignificantly in technology and the right talent. Armed with these resources we plandouble digit growth in our vehicle book. We have witnessed early successes in our newgrowth engines including SME Leasing and Digital FinCo wherein we shall deployincremental capital. We believe the strength to reach out to our large customer databaseenables us to improve our current cross-sell ratios.

We continued to build on our culture of excellence that revolvesaround customer-centricity diversity and inclusivity to meet our aspirations ofdelivering high- performance. The diversity of our people our collaborative culture andour long-standing relationship with our partners have successfully created value for allour stakeholders. ESG is a key focus area for the Group and your Company has demonstratedits resolve to achieve Carbon Neutrality by 2040. Our CSR initiatives are aligned totransform rural lives and drive positive change in the communities around us withHealthcare Education & Livelihood and Environment as our key CSR thrust areas. Wetake pride in our Governance standards wherein transparency and performance are rewarded.I am further glad to convey that Mr. Siddhartha Mohanty Managing Director of LifeInsurance Corporation of India has joined our Board. I remain thankful to yourCompany's Board of Directors for their continued guidance.

With our resilient operating model experienced and strengthenedleadership team strong capital adequacy comfortable liquidity position and robust riskmanagement processes we are confident of pacing ahead to a better future. We remainwell-equipped to leverage the growing opportunities in the Indian financial servicessector and can stay ahead of the changing industry dynamics.

Regards

Dr. Anish Shah

Chairman

.