Mahindra & Mahindra Ltd is an India-based company. The company operates in nine segments: automotive segment comprises of sales of automobiles, spare parts and related services; farm equipment segment comprises of sales of tractors, spare parts and related services; information technology (IT) services comprises of services rendered for IT and telecom; financial services comprise of services relating to financing, leasing and hire purchase of automobiles and tractors; steel trading and processing comprises of trading and processing of steel; infrastructure comprise of operating of commercial complexes, project management and development; hospitality segment comprises of sale of timeshare; Systech segment comprises of automotive components and other related products and services, and its others segment comprise of logistics, after-market, two wheelers and investment.
Mahindra & Mahindra Ltd was incorporated on October 2, 1945 with the name Mahindra & Mohammed Ltd. The company was renamed as Mahindra & Mahindra Ltd in the year 1948. The steel trading business was commenced in association with suppliers in UK. In the year 1950, the company commenced the first business with Mitsubishi Corporation and 5000 tons of wagon building plates from Yawata Iron & Steel were supplied.
In the year 1953 Otis Elevator Company (India) was established. A joint venture was made with Rubery Owen & Company Limited, UK and established a company under the name of Mahindra Owen. The company's Machine Tools Division was commenced its operations in the year 1958. In the year 1960, Mahindra Sintered Products Limited was established based on a joint venture with Bir Field (GKN Group, UK). In the year 1962, Mahindra Ugine Steel Company was established as a joint venture between the company and Ugine Kuhlmann, France. In the year 1963, International Tractor Company of India was established as a joint venture with International Harvester Company, USA.
In the year 1965, the company entered into light commercial vehicles segment. They established Vickers Sperry of India Ltd, a joint venture with Sperry Rand Corporation, USA. In the year 1969, the company entered the world market with export of utility vehicles and spare parts.
In the year 1977, International Tractor Company of India merged with the company and became its Tractor Division. In the year 1982, Mahindra brand of tractors were launched and also became the market leader in the Indian tractor market. In the year 1991, the company introduced commander range of vehicles in the market. Also, they established Mahindra Financial Services Ltd as a wholesale fund provider.
In the year 1995, Mahindra Holding & Finance Limited became a subsidiary of the company to carry out business as an investment company. The company made a technical collaboration with Mitsubishi / Samcor to manufacture the Mitsubishi L300. In the year 1996, Mahindra Ford India Limited was established, a joint venture with Ford Motor Company, USA, to manufacture passenger cars. In the year 1999, the company acquired a major stake in Gujarat Tractors and renamed it Mahindra Gujarat Tractors Ltd. Also, Mahindra & Mahindra Financial Services Ltd became a subsidiary of the company.
In the year 2000, the company set up their first satellite tractor plant at Rudrapur. They launched a new age tractor, Mahindra Arjun 605 DI (60 HP) in the market. Also, they launched Bolero GLX (a utility vehicle) launched in response to the needs of urban consumers. In the year 2001, the company launched Champion, a 3-wheeler diesel vehicle. They launched Mahindra MaXX, a multi-utility vehicle positioned with the caption 'Maximum Space, Maximum Comfort'. They made a tie up with Renault for Petrol Engines.
In the year 2002, the company launched Scorpio, a new generation, world-class sports utility vehicle. In the year 2003, they launched Invader, a sporty open top vehicle and MaXX Pik Up. They set up second tractor assembly plant in USA. They ventured into Industrial engine business. Also, they launched India's first Turbo tractor, Mahindra Sarpanch 595 DI Super Turbo.
In the year 2004, the company launched Bolero and Scorpio in Latin American, Middle East and South African markets. They signed an MoU to enter into joint venture with Jiangling Motor Company Group (JMCG) of China, to acquire tractor manufacturing assets from Jiangling Tractor Company, a subsidiary of Jiangling Motor Company Group.
In the year 2005, the company acquired 51% stake in SAR Transmission Private Limited, a company engaged in manufacture of gears and transmission shafts. The company became the became the first Indian auto manufacturer to launch the Common Rail Diesel Engine (CRDe), offering it in the Scorpio. They acquired 80% stake in the joint venture with Jiangling Motors i.e. in Mahindra (China) Tractor Company. They established Mahindra Renault Ltd, a joint venture with Renault to manufacture and market Logan, a mid-sized sedan, in India. Also, they established Mahindra International Ltd, a joint venture with International Truck and Engine Corporation to manufacture trucks & buses in India.
In the year 2006, the company acquired the Stokes Group of UK, the largest automotive forgings company in the UK. They launched the Scorpio V-series. In July 2007, the company launched the Mahindra Pik-Up (double cab) in Chile. In November 1, 2007, a wholly owned affiliate of Navistar International Corporation signed a joint venture agreement with the company to produce diesel engines for medium and heavy commercial trucks and buses in India.
In the year 2008, the company introduced FuelSmart system in Bolero and Scorpio SUVs. They entered into JV with TMI Pacific in Australia. In the year 2009, the company launched Xylo. Also, they launched New, Mighty Muscular Scorpio in the market.
During the year 2009-10, the company hived off Mahindra Defence Systems Division into a wholly owned subsidiary, Mahindra Defence Land Systems Pvt Ltd (now rechristened as Defence Land Systems India Pvt Ltd) with effect from July 1, 2009. Also, the company signed a joint venture agreement on November 30, 2009 with BAE Systems Plc. to form a 74:26 Joint Venture for defence land systems products. The company divested 46.66% of the equity share capital in Mahindra Gears & Transmissions Pvt Ltd in favour of ICICI Venture Fund. As per the scheme of arrangement between the company and Mahindra Shubhlabh Services Ltd, the Agri Inputs Business of along with other common assets and liabilities of MSSL was de-merged and transferred into the company.
During the year 2010-11, the company acquired SYMC, a premier manufacturer of sports utility vehicles and recreational vehicles in Korea. Also, the company acquired 38% of the paid-up equity share capital through a Preferential Allotment in EPC Industrie' Ltd (EPC), a company listed on the Bombay Stock Exchange Limited. In February, 2010, the company had launched Maxximo in a very competitive small 4-wheeler cargo segment (0.75 Ton). In June 2011, Bristlecone International AG became a subsidiary of the company.
Today, the company's operations span 18 key industries that form the foundation of every modern economy: aerospace, aftermarket, agribusiness, automotive, components, construction equipment, consulting services, defense, energy, farm equipment, finance and insurance, industrial equipment, information technology, leisure and hospitality, logistics, real estate, retail, and two wheelers.