Mahindra & Mahindra Ltd. – An In-Depth Analysis

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Beginning its journey in 1945, Mahindra & Mahindra Ltd. initially launched as a steel trading enterprise and has since transformed into a global powerhouse, extending its reach to over 100 countries worldwide. Today, it stands proud as the world’s premier tractor company by volume, reinforcing its significant contribution to strengthening India’s agricultural sector. The extensive influence of the company spans multiple industries such as automotive, agriculture, and technology, to name a few.

For Indians, Mahindra is a trusted companion that has been part of their life’s many milestones. From reliable utility vehicles to state-of-the-art tractors, Mahindra’s products have been helping millions of Indians in both urban and rural landscapes to ease their lives and augment their livelihoods. It holds the esteemed position as India’s No. 1 SUV Manufacturer by revenue market share. 

In this detailed blog, we will explore the world of Mahindra & Mahindra Ltd., tracing its historical roots, evolution, significant milestones, and its continuous contribution to India’s growth and development. 

About Mahindra & Mahindra Ltd.

FounderJC and KC Mahindra, Ghulam Mohammed
Founded Year1945
Industry TypeAutomotive, Agribusiness, Aerospace, Two Wheelers, Construction, Defence, Energy, Finance, Hospitality, Information Technology, Leisure and Hospitality
HeadquartersMumbai, Maharashtra, India
Key PeopleAnand Mahindra (Chairman)
Number of Employees260,000+
PresenceOver 100 countries
Market Cap₹1.87 trillion

Overview of Mahindra & Mahindra Ltd.

Mahindra & Mahindra Ltd., part of the esteemed Mahindra Group, is a global giant with an expansive presence in more than 100 countries and a dedicated team of 260,000. Renowned as the world’s foremost tractor company by volume, it supports global agriculture, enhancing its reputation in this critical sector. It also proudly stands as India’s leading SUV manufacturer by revenue market share, underscoring its significant impact on the automotive industry.

The company’s achievements stretch beyond these sectors, making substantial progress in the renewable energy field, and emphasising its dedication to sustainable solutions. This devotion shines in their groundbreaking automotive creation, the Pininfarina Battista, and their exclusive Indian presence in the Formula E All-Electric Car Racing Championship.

Also Read: Maruti Suzuki India Ltd.

Mahindra & Mahindra Ltd. History

1945: JC and KC Mahindra, alongside Ghulam Mohammed, founded ‘Mahindra & Mohammed,’ beginning their venture in the steel trading sector.

1947: Arrival of 75 Jeeps from the USA, marking the company’s start in the automotive sector.

1949: M&M and Mitsubishi solidify an Iron and Steel deal, sourcing 5,000 tons of steel for wagon construction.

1950: M&M announced its public status, listing shares on the Bombay Stock Exchange by 1956.

1961: A partnership with International Harvester, USA, marks M&M’s entry into tractor production.

1962: M&M and Ugine Kuhlmann, France unite to form Mahindra Ugine Steel Company (MUSCO), specialising in alloy manufacturing.

1963: Formation of the International Tractor Company of India, solidifying M&M’s standing in the tractor manufacturing industry.

1964: The Pope arrives in a Mahindra Jeep, highlighting M&M’s growing automotive reputation.

1977: The International Tractor Company of India merges with M&M, enhancing its tractor division.

1979: Tying up with Peugeot, France for the manufacture of XDP 4.90 diesel engines signals M&M’s commitment to automotive innovation.

1983: M&M emerged as a leader in the Indian Tractor Market.

1986: Mahindra British Telecom is formed in a joint venture with British Telecom, UK.

1991: The inception of Mahindra Finance.

1994: The Mahindra Group diversifies into various sectors including Automotive, IT, and Infrastructure Development Services.

1996: Entrance into the hospitality sector with Mahindra Holidays and Resorts, India Ltd.

1997: Anand Mahindra takes on the role of Managing Director.

2002: The inauguration of Mahindra World City in Chennai.

2010 to 2011: Sponsorship of the FIFA World Cup, acquisition of Reva Electric Vehicles, and the launch of Mahindra Rise.

2012 to 2014: The inauguration of Mahindra Research Valley in Chennai and entrance into the FIA Formula E Championships.

2016 to 2018: The acquisition of Sampo Rosenlew and the return of the iconic Jawa to India.

2019 to 2022: The unveiling of the Pininfarina, the relaunch of Thar, and the launch of the XUV 700 Series, marking M&M’s sustained dedication to automotive excellence and innovation.

Major Subsidiaries of Mahindra & Mahindra Ltd.

Tech Mahindra

Tech Mahindra exemplifies Mahindra & Mahindra Ltd.’s innovative edge in information technology and business process outsourcing services. This significant subsidiary collaborates with over 1200 global corporations, including Fortune 500 companies, generating revenue exceeding $6 billion.

Mahindra Electric Mobility Ltd

Mahindra Electric Mobility Ltd solidifies the group’s commitment to sustainable mobility, leading the electric vehicle market in India. As the first in India to launch electric three-wheelers, it actively enhances the nation’s EV infrastructure, aligning with global environmental goals.

Mahindra Lifespace Developers Ltd

Mahindra Lifespace Developers Ltd is a notable name in real estate, focusing on eco-friendly and innovative residential and commercial projects. It’s setting new benchmarks in sustainable infrastructure, with its developments spanning across various cities, positively transforming urban landscapes.

Mahindra Finance

Mahindra Finance stands as a prominent non-banking finance company in India. It offers diverse financial products and services, including loans and insurance, with an extensive network of over 1,386 branches nationwide, ensuring comprehensive service availability to a broad customer base.

Club Mahindra Holidays

In hospitality, Club Mahindra Holidays revolutionises vacation experiences, offering a wide array of resorts globally. It guarantees delightful holidays with exceptional facilities, underlining its significant contribution to the group’s diverse sectors.

Mahindra Tractors 

Mahindra Tractors, under the Mahindra & Mahindra Farm Equipment Sector, is the world’s top tractor company by volume. It supports agricultural advancement with a wide array of advanced tractors and farming equipment, highlighting the group’s essential role in enhancing agricultural productivity.

Also Read: Larsen & Toubro Ltd

Major Acquisitions by Mahindra & Mahindra Ltd.

Peugeot Motorcycles

In 2015, a significant event for Mahindra & Mahindra Ltd. was marked by the acquisition of a controlling stake in Peugeot Motorcycles, a subsidiary of the PSA Group, and a respected entity in European scooter manufacturing. This acquisition enabled M&M to enhance its two-wheeler range with the addition of stylish and technologically superior scooters like the Django and Metropolis, known for their modern aesthetics and innovative features.

Sampo Rosenlew

To strengthen its global standing in the agri-machinery industry, Mahindra & Mahindra Ltd. purchased a 35% share in the Finnish firm Sampo Rosenlew in 2016. Sampo Rosenlew, renowned for its superior combine harvesters and forest machinery, has played a crucial role in the advancement and efficiency of agricultural and forestry management. In 2022, Mahindra & Mahindra (M&M) increased its ownership to 100% in Sampo Rosenlew Oy by purchasing the remaining shares for more than ₹35 crore.

Automobili Pininfarina

2018 saw Mahindra & Mahindra Ltd. delving into the high-end car market with the acquisition of Automobili Pininfarina, an esteemed Italian luxury car manufacturer. Known for the Battista, the world’s first luxury electric high-performance GT, Automobili Pininfarina epitomises exceptional design and extraordinary performance.

Products/Brands under Mahindra & Mahindra Ltd.

1. Mahindra Thar

Mahindra Thar, launched in 2010, has always made heads turn with its bold, rugged design and unmatched all-terrain capability. In 2020, Mahindra relaunched the Thar with a more refined and feature-rich design, receiving rave reviews for its timeless design infused with modernity. Known for its high power, the Thar offers both petrol and diesel engine options. It is celebrated for bringing advanced off-roading capabilities to the general public, enabling more people to explore the great outdoors with confidence and style.

2. Mahindra Scorpio

Launched in 2002, the Mahindra Scorpio revolutionised the SUV market in India with its robust design and affordable pricing. It quickly became one of the most popular vehicles in its segment. The Scorpio has seen multiple upgrades over the years, enhancing its appeal with modern technology and improved performance. In 2022, Mahindra launched the Scorpio-N, known as the Big Daddy of SUVs, which combines advanced technology, superior comfort, and intuitive safety features, further solidifying its position in the market.

3. Mahindra XUV 700 Series

The XUV 700 Series, launched in 2021, is a powerhouse SUV known for its high-end technology, robust performance, and world-class safety. It stands out with its sci-fi engineering, promising a spirited performance to car enthusiasts. The XUV 700 series has solidified Mahindra’s position as a manufacturer that focuses not only on design and performance but also on ensuring optimum safety and cutting-edge technology for its customers.

4. Mahindra Tractors

As the world’s largest tractor company by volume, Mahindra Tractors has a significant impact on agriculture globally. Established in 1961, in collaboration with International Harvester, USA, Mahindra Tractors has consistently provided technologically advanced tractors and farming solutions to enhance agricultural productivity. In 2004, Mahindra Tractors won the prestigious Deming Prize, solidifying its reputation for quality and innovation.


Originating in 1945 with the Jeep assembly, Mahindra & Mahindra Ltd. now leads in electric vehicle innovation with the groundbreaking Pininfarina Battista. The company firmly holds a commitment to forward motion and ecological sustainability, evident in its global impact across diverse sectors including IT, finance, and renewable energy in over 100 countries. Introducing advanced vehicles like the Thar and XUV 700 Series aligns with consumer demands and technological progress.  As an industrial leader, it stands ready to take on forthcoming challenges, firmly dedicated to global progress and the betterment of society and the environment.

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