Anish Shah's 6-Year Mahindra Reign: Portfolio Clean-up, EV Push, and Market-Cap Surge

• Anish Shah's six-year tenure at Mahindra focused on divesting over a dozen non-core, underperforming businesses like SsangYong Motor Company.
• This strategy freed up capital and management resources for investments in high-growth areas like electric vehicles and renewables.
• Mahindra & Mahindra strengthened its EV platform with institutional capital and acquired SML Isuzu to bolster its core auto business.
• The SUV segment achieved a 22.5% revenue market share in FY25, and the tractor business hit a record 43.3% market share.
• Mahindra & Mahindra Financial Services improved asset quality, with GS3 declining from 9% in FY21 to 3.7% in FY25, alongside loan book expansion.

Key Questions Answered

How will Mahindra's EV push impact its future growth?

Mahindra's EV push is positioning it for significant future growth, evidenced by its No.

What new businesses could Mahindra invest in next?

Mahindra could invest in deep-tech startups like Genrobotics and digital entertainment platforms like Kuku.

Will Mahindra's financial services continue improving asset quality?

Yes, Mahindra Finance's asset quality is improving. Stage-3 assets are estimated between 3.4% and 3.5%, down from 3.7% a year ago. Collection efficiency is steady at 98% for Q4 FY26.