Business Responsibility and Sustainability Report for the financial year 2024-25 - Regulation 34(2)(f) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations").
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Tech Mahindra has filed its annual Business Responsibility and Sustainability Report (BRSR) for FY 2024-25, which is part of its Integrated Annual Report. Key highlights include a total workforce of 1,39,271 employees (34.5% women), turnover of ₹4,46,172 crore, and net worth of ₹2,21,397 crore. The company operates 71 national and 223 international offices, with exports contributing 93.3% of total revenue. Voluntary attrition stood at 11.8% in IT services. On the ESG side, the company achieved 100% training coverage on health and safety, zero work-related injuries or fatalities, 90% sustainable sourcing, and reaffirmed its net-zero target by 2035. External assurance was provided by DNV with reasonable assurance on BRSR core indicators. However, the report discloses GST penalties totaling about ₹234 crore (₹231 crore under appeal) for issues like ITC mismatch and SEZ endorsement non-submission. No disciplinary actions were reported for bribery or corruption.
This is a routine annual compliance filing under SEBI regulations, with no new business announcement or direct stock-moving news. The strong sustainability metrics and zero-fatality record are positive for ESG-focused investors, while the disclosed GST penalties are already largely under appeal and not materially significant relative to the company's turnover.