Mahindra Group Chairman Anand Mahindra reflected on Mahindra & Mahindra's 35-year long journey in the Sensex, saying the company's focus on "survival" and "continuous improvement" has remained unchanged since India's economic liberalisation in 1991.
Mahindra reacted to a graphic shared on X by market commentator Ishan Tanna, based on a Business Standard analysis on Thursday. The post highlighted that only seven companies have remained part of the Sensex 30 since 1991- Tata Steel, Reliance Industries, Tata Motors, Hindustan Unilever, ITC, Larsen & Toubro (L&T), and Mahindra & Mahindra.
Thanks for sharing this @IshanTanna1
— anand mahindra (@anandmahindra) August 6, 2026
What's even more gratifying: our returns are the highest.
What made this happen?
There's never a simple formula, a ‘silver bullet' that guarantees success & longevity.
All I know is that from '91, we were intensely focused on surviving &… https://t.co/wmfAjNVbTv
According to the graphic, M&M's market capitalisation surged from Rs 130 crore in March 1991 to Rs 4.22 lakh crore in July 2026, delivering a compound annual growth rate (CAGR) of 25.7%.
Responding to the post, Mahindra said what was "even more gratifying" was that M&M had delivered the highest returns among the seven companies. He added that there is no simple formula or "silver bullet" that guarantees long-term success and longevity.
"All I know is that from '91, we were intensely focused on surviving & on continuous improvement so we could compete with the global giants who were rushing into India post liberalisation that year," Mahindra wrote on X.
He added that the same philosophy continues to guide the company today. "And I know that even today, survival & continuous improvement remain our mindset."
He concluded his post by saying, "If there's any business lesson here, it is that it pays to be paranoid!"
ALSO READ: 'Uncertainty Is The Norm': Anand Mahindra Puts M&M In 'Attack Mode' After Record Q1
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