Mahindra 'Firing On All Cylinders'; Aims To Gain Market Share With New EV Launches: Anish Shah

Mahindra Group is continuing to fire on all cylinders for further growth, said Anish Shah, group chief executive officer and managing director, Mahindra Group. Shah gave credits to all the businesses after the strong performance in the first quarter.

Across the businesses, Mahindra & Mahindra Financial Services Ltd., Mahindra Lifespace Developers Ltd., and Mahindra Holidays and Resorts India Ltd. are doing well.  Soon, there will be a strong growth momentum in Mahindra Logistics. It has been a culmination of all of these businesses coming together and delivering really good results, he said.  

In terms of market share, auto leads with 22% growth in a flat market. In SUV revenue market share, automobile space has delivered a 5.7% growth, he said in an interview to NDTV Profit.

Every new launches usually have an impact in some form with the electric vehicles having the most impact. EVs are relatively new which is why it has the most impact on margins because of the investments. PLIs helped Mahindra Group to make the investments, he said.

Mahindra & Mahindra is sure that it will have a stronger presence in the market with a very good set of electric vehicles and ICE vehicles at reasonable margins, he added.

Mahindra Group has a clear strategy for exports which is focus on a few key areas before moving beyond that, Shah explained.

Right now, the group is focusing on India-like markets such as Sri Lanka, Nepal, Bangladesh, South Africa, and Australia. With new product launches, the group is targeting 15–20% market share gain, he said.