Dr. Pawan Goenka's Speech

Here is what our Executive Director and President (Automotive & Farm

Equipment Sectors) Dr. Pawan Goenka has to say

Friends,

Over the past couple of days, you may have come across a news item quoting

me as having mentioned that M&M may exit the Trucks business. Let me categorically state that this report is totally incorrect and in fact irresponsible. As I have said on many occasions in the past, I once again reaffirm to all of you that M&M is fully committed to making its Truck & Bus business a success and will do that is needed for the same. We are in the process of beefing up our product portfolio, expanding our network and making long term investments in the brand. All this is aimed at building the business stronger. In fact, with the demerger of Truck and Bus business in to M&M we would be further leveraging the synergies with the Automotive & Farm Equipment sectors on a significant scale and make our presence in the CV industry much more profound going ahead.*

Please join us in making the Truck & Bus business a force to reckon with and attain substantial share of market in times to come!

Dr. Pawan Goenka

Executive Director and President (Automotive & Farm Equipment Sectors)

Mahindra & Mahindra Ltd.