By investing Rs 112.74 crores in various CSR initiatives in 2023-24, the company continues to drive positive change, ensuring that its growth story benefits all sections of society, particularly the underprivileged and the environment.

NEW DELHI (India CSR): In the fiscal year 2023-24, Mahindra & Mahindra Ltd. showcased its unwavering dedication to corporate social responsibility (CSR), aligning its efforts with the Group’s RISE Philosophy. The company made substantial investments in projects aimed at nation-building priorities and local developmental needs, focusing on key areas such as the empowerment of underprivileged girls, women’s economic empowerment, and environmental conservation.

Financial Overview

According to the Integrated Annual Report 2023-24, Mahindra & Mahindra Ltd. reported an average net profit of Rs 5,616,45,08,849.36 as per subsection (5) of section 135. Consequently, the 2% mandatory CSR expenditure amounted to Rs 112,32,90,176.99.

CSR Spending Breakdown

The total CSR obligation for the year was Rs 112,32,90,176.99. The company’s actual expenditure on CSR projects, both ongoing and new, totaled Rs 107,71,10,967.00. Administrative overheads accounted for Rs 4,51,07,529.67, and impact assessment expenses were Rs 52,14,095.00. This culminated in a total CSR spending of Rs 112,74,32,591.67, exceeding the required amount slightly.

CSR Policy and Governance

Mahindra & Mahindra Ltd.’s CSR policy is meticulously designed to address both national and local developmental needs. The policy is publicly accessible on the company’s website. The CSR Committee, reconstituted multiple times throughout the year, oversees the implementation and monitoring of CSR activities. As of August 2024, the committee includes Muthiah Murugappan (Chairman), Anand G. Mahindra, Dr. Anish Shah, and Padmasree Warrior.

Flagship CSR Initiatives

In line with the company’s commitment to the UN Sustainable Development Goals (SDGs) and the Indian Government’s CSR framework, Mahindra & Mahindra Ltd. focused on several key initiatives:

Empowering Underprivileged Girls: The company invested heavily in educational and vocational programs aimed at uplifting underprivileged girls, providing them with equal opportunities for a brighter future.
Women’s Economic Empowerment: Initiatives to support women’s economic independence were a major focus, promoting skills development and entrepreneurship among women in various communities.
Environmental Conservation: The company undertook numerous projects aimed at environmental sustainability, including tree plantation drives, cleanliness campaigns, and awareness programs on environmental issues.

Employee Engagement

Mahindra & Mahindra Ltd. emphasizes employee participation in CSR activities. Through programs like Esops and MySeva, employees dedicated 59,485 person-hours to various social causes. The second edition of Mahindra Volunteering Day saw 12,183 volunteers contributing 33,345 person-hours to diverse activities, from blood donation drives to health check-up camps.

Impact and Future Goals

The company’s CSR activities have brought about significant social, economic, and environmental changes, aligning with its purpose of driving positive change in communities. The investments in CSR projects have not only met regulatory requirements but have also propelled Mahindra & Mahindra Ltd. to achieve higher social impact and contribute to the nation’s progress.

Mahindra & Mahindra Ltd. CSR Spending Key Information for 2023-24

Parameter	Details
Average Net Profit (As per Section 135)	Rs 5,616,45,08,849.36
2% of Average Net Profit	Rs 112,32,90,176.99
Surplus from Previous Financial Year	NIL
Amount Required to be Set-Off	NIL
Total CSR Obligation	Rs 112,32,90,176.99
Amount Spent on CSR Projects (Ongoing & New)	Rs 107,71,10,967.00
Amount Spent on Administrative Overheads	Rs 4,51,07,529.67
Amount Spent on Impact Assessment	Rs 52,14,095.00
Total Amount Spent for Financial Year	Rs 112,74,32,591.67
CSR Applicability (As per Section 135 of Companies Act, 2013)	Yes
Turnover	Rs 98,763.43 crores
Net Worth	Rs 52,276.56 crores
CSR Initiatives Focus Areas	Empowering underprivileged girls, women’s economic empowerment, and environmental conservation
Employee Volunteering (Total Hours)	59,485 person-hours
Mahindra Volunteering Day (Total Volunteers & Hours)	12,183 volunteers, 33,345 person-hours
Key Social Impact Areas	Education, employment, decision-making roles for women, environmental conservation
CSR Committee (As of August 2024)	Mr. Muthiah Murugappan (Chairman), Mr. Anand G. Mahindra, Dr. Anish Shah, Ms. Padmasree Warrior
Link to CSR Policy	Mahindra CSR Policy