Mahindra and Mahindra groups ltd. CEO Anish Shah is planning to revive the company’s growth in FY21. The company is famous for producing heavy machinery vehicles and is planning to build electric cars for the betterment of the future in the upcoming times.
Shah worked as the financial officer of M&M groups before taking the position of CEO. He mentions in an interview that the company is planning to make growths as of now rather than doing something revolutionary. In the past few years, the growth has been stagnant, which has not made any good progress.
Shah, 51, has a job for him. The group’s $ 19 billion SUV market share dropped to 13%, up from 50% seven years ago. It has failed to combat the failed investment and epidemic in the automotive industry, which has led to it reporting a quarterly loss last year, for the first time in nearly two decades. Last week, plans to work with Ford Motor Co. were completed.
Anish Shah is also creating a road map for the growth of the company. The 76-year old company is losing in its financial aspects, and Anish is currently planning to revive that. “We will note all the losses and will make sure it does not happen any further,” mentions Anish.
Investors seem to be there. Mahindra shares have increased by 11% so far this year, making more than 3.9% of the S&P BSE Sensex benchmark profit. Since one in three cars sold in India is an SUV, getting a share in the market is essential to Mahindra, who earns more than 60% of his income from the automotive business. Shaka bets on its new Thar model, a four-wheeled drive reminiscent of its original Scorpio success. The new model has a waiting list starting early next year, in contrast to the humble adoption of its smaller van like the Marazzo or a smaller SUV like the KUV obtained from local customers.