When the going gets tough, Mahindra gets going: Chairman on rising stock

New Delhi: Mahindra Group Chairman Anand Mahindra on Thursday hailed teams in his Group companies for charting a new course and getting them back on customary growth trajectory.

Mahindra and Mahindra's stock closed at Rs 2,008 on Thursday.

"In December 2019, when the share price had fallen to around Rs 500, I vividly recall that at our annual leadership conference (M10) held in Mumbai, the then CFO had issued a clarion call for our stock to be “2000 by 2022," Anand Mahindra posted on X platform.

"Little did we know, of course, that a global pandemic lurked around the corner."

The next couple of years were challenging for everyone but for the Mahindra Group, "we lived up to our motto -- When the going gets tough, Mahindra gets going..."

According to the chairman, the company overshot the deadline by two years, “but it’s incredibly gratifying to cross this milestone with many more to come”.

He then thanked Mahindra Group CEO Dr Anish Shah and Executive Director Rajesh Jejurikar and the teams both in M&M and all Group companies “who charted new strategies and worked relentlessly to get us back on our customary growth trajectory”.

Founded in 1945, the Mahindra Group is one of the largest companies with 260,000 employees in over 100 countries.

It has a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world's largest tractor company by volume.

The Group also has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.