Mahindra and Mahindra latest Indian business to move towards Integrated Reporting
Commenting on this move towards Integrated Reporting, Mr Keshub Mahindra, Chairman Emeritus, Mahindra Group said, “I am happy to note that Mahindra & Mahindra is launching its first Integrated Report this year. I consider this as an important milestone in our continuous endeavour to be in communication with our stakeholders.”
Mr Anand Mahindra, Chairman, Mahindra Group added, “From this year onwards, we are publishing an integrated report, which will comprehensively communicate how Mahindra achieves long-term value creation, within the challenging and complex contemporary world.”
In the integrated report, Mahindra and Mahindra state, “For a cohesive view about an organisation’s performance and its ability to create value consistently, one needs to look at the five other capitals along with financial capital – manufactured capital, intellectual capital, human capital, social and relationship capital, and natural capital. Cognizant of these shifts, we have decided to publish an Integrated Report.”
This move towards Integrated Reporting follows a recommendation in February 2017 by the Securities Exchange Board of India (SEBI) to the top 500 listed companies in India, calling on them to consider using the International <IR> Framework. Currently championed by big name Indian market leaders including Tata Steel, WIPRO, Infosys and Reliance Industries as well as Mahindra and Mahindra, the call by SEBI is expected to see a big boost in the number of Indian companies moving towards Integrated Reporting in the next year.
Richard Howitt, CEO, IIRC added, “The IIRC welcomes this significant move by Mahindra Group and I congratulate them on the publication of their first integrated report. Integrated Reporting is fast becoming the global norm for corporate reporting, recognised by international investors. Efforts towards its widespread adoption in India will accelerate the country and its companies towards fully realizing the opportunities for foreign investment and international trade. This is particularly encouraging following the release of a memorandum by SEBI calling on the top 500 Indian companies to adopt Integrated Reporting, which we believe will enable Mahindra and Mahindra and others to further understand and communicate their full value creation potential.”