One Purpose
Driving One Accelo
All Our Firsts
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1st
Steel Service Centre in India in the Organised Sector
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1st
Steel Service Centre Abroad by an Indian Entity
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1st
Electrical Steel Service Centre in South Asia
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1st
Vehicle Recycling Facility in India in the Organised Space
Glimpse of Accelo Group
Mahindra Steel Service Centre Limited (MSSCL)
is a venture established in 1993 between Mahindra Accelo and Metal One Corporation, Japan. MSSCL operates in mobility and energy components, with operations spanning five facilities located in Pune, Bhopal, Noida, and Chennai.
Mahindra Auto Steel Private Limited (MASPL)
is a venture between Mahindra Accelo and Mitsui & Co. Limited, Japan, formed in 2015. MASPL operates out of a state-of-the-art facility at Chakan, near Pune, and is engaged in the mobility business.
Mahindra Middle-East Electrical Steel Service Centre (FZC) (MME)
is a venture between Mahindra Accelo and Nippon Steel Corporation, Japan, formed in 2004. MME is engaged in the energy component business and has a state-of-the-art facility in Sharjah (UAE).
PT Mahindra Accelo Steel Indonesia (PTMASI)
was formed to expand and add value to our energy component business in Indonesia. PTMASI set up a state-of-the-art plant in Indonesia that became operational in 2022.
Mahindra MSTC Recycling Private Limited (MMRPL)
is a venture between Mahindra Accelo and MSTC Limited, a Government of India Enterprise, established in 2016 to set up environment-friendly recycling centres for end-of-life vehicles. It operates under the brand name ‘CERO.’ Additionally, MMRPL has 7 modern Registered Vehicle Scrapping Facilities (RVSF) and 42 collection centres across India.
Mahindra Electrical Steel Private Limited (MESPL)
is a wholly-owned subsidiary of Mahindra Accelo, set up with a primary focus on trading and processing non-ferrous and ferrous materials, including various grades of steel.
Advancing with
Sustainability in
Mobility
and Energy Solutions
Mahindra Accelo (referred to as ‘MAL’, or ‘our Company’, or ‘We’), an integral part of the Mahindra Group, boasts a rich legacy as one of the oldest businesses within the conglomerate. Initially established as a steel-trading and processing enterprise, we have evolved into a formidable player in high-quality component production.
Our diversification now spans over automobiles, electric vehicles, power solutions, home appliances and pioneering ventures like vehicle recycling. Through strategic realignment, we prioritise enhancing our offerings in the mobility and energy verticals, fuelling our continued growth trajectory.
Our commitment to excellence drives us to deliver unparalleled services, propelling our expansion into new geographies. Leveraging strategic partnerships with global steel mills and trading conglomerates, we have established a strong presence in 11 locations across India, Sharjah (UAE), and Indonesia. Additionally, we have created India wide presence with 42 centres including registered vehicle scrapping facilities for our automotive recycling business - CERO. At the heart of our mission lies a firm commitment to driving the global circular economy forward. Through our relentless efforts, we strive to curtail carbon emissions while providing sustainable, value-added components that contribute to a greener future for all. We drive the growth of the mobility and energy sectors by championing decarbonisation for a sustainable future.
Our Ethos
Our relentless innovation is aimed at uniting the world in a common goal: reducing our collective carbon footprint and paving the way for a sustainable future.
Our Mission
To become the most trusted brand for our customers, prosper as a socially and environmentally responsible business, create a positive and sustainable impact on our stakeholders and achieve excellence through agility.
Our Vision
We will Rise to become a leading Mobility and Energy component player.
Our Purpose
Drive positive change in the lives of our communities. Only when we enable others to rise, will we rise #TogetherWeRise
Core Values
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Professionalism
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Good Corporate Citizenship
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Customer First
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Quality Focus
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Dignity of the Individual
Brand Pillars
- Rise for a More Equal World Climate Change, Inclusion, Ethics
- Rise to be Future-Ready, Customer-Focussed, Technology, Innovation
- Rise to Create Value Entrepreneurship, Scale, Impact
World of Accelo
Largest
Supplier of Electrical Steel Components in India
2.5+ million
Tonnes of Steel Handled
18
State-of-the-Art Facilities Globally
2
Plants are TPM* Certified
42
Cities Covered through Auto Recycling (CERO)
80
Customer Satisfaction Index Score (FY 2023-24)
1st
and the Largest Vehicle Recycler
25
Countries where Accelo Exports its Products
Best Governed
Company Awarded by the ICSI (2021)
44th
Position Among India’s Great Mid-Size Workplaces 2023
4.33/5
MCARES Score (2024)
Among Top 25
Best Workplaces in Manufacturing 2024 & Best Workplaces in Building a Culture of Innovation for All – Mid Size Category
Our Presence
Decarbonising the world requires a strategic global presence. At Mahindra Accelo, we prioritise selecting the right destinations to establish our operations. Our Company’s expansion into key markets like India, Indonesia, and the UAE reflects our commitment to being where our customers need us most. These locations offer unique advantages, such as proximity to major markets, access to skilled talent, and supportive regulatory environments. Additionally, by strategically choosing these destinations, we aim to serve our customers efficiently while contributing to global sustainability goals.
Disclaimer: This map is a generalised illustration only for the ease of the reader to understand the locations, and it is not intended to be used for reference purposes. The representation of political boundaries and the names of geographical features/states do not necessarily reflect the actual position. The Company or any of its directors, officers or employees, cannot be held responsible for any misuse or misinterpretation of any information or design thereof. The Company does not warrant or represent any kind in connection to its accuracy or completeness.
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Automotive & EV – 7 Centres
- Nashik
- Pune – Kanhe (Plant I)
- Pune – Kanhe (Plant II)
- Pune - Chakan (Plant I)
- Pune - Chakan (Plant II)
- Chennai
- Ahmednagar - Supa
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CERO RVSF – 7 Centres
- Greater Noida
- Chennai
- Ahmedabad
- Hyderabad
- Indore
- Guwahati
- Bengaluru
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CERO Collection Centres – 42 Centres
- Greater Noida
- Hyderabad
- Bengaluru
- Ludhiana
- Udaipur
- Mumbai
- Salem
- Madurai
- Nagpur
- Lucknow
- Bhubaneshwar
- Chennai
- Indore
- Amritsar
- Dehradun
- Gandhinagar
- Mangalore
- Anantapur
- Warangal
- Bhopal
- Varanasi
- Nashik
- Pune
- Chandigarh
- Jalandhar
- Shimla
- Vadodara
- Mysore
- Coimbatore
- Vijayawada
- Shillong
- Kanpur
- Ahmedabad
- Guwahati
- Patiala
- Jaipur
- Surat
- Hubli
- Trichy
- Visakhapatnam
- Itanagar
- Kolkata
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Power – 7 Centres (5 Domestic and 2 International)
- Bhopal
- Pune – Kanhe (Plant I)
- Vadodara
- Greater Noida
- Chennai
- Sharjah (UAE)
- Jakarta, Indonesia
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Solar – 1 Centre
- Nashik
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Electrical Stampings – 2 Centres
- Chennai
- Pune - Kanhe (Plant II)
Advancing the Value
Proposition with
Confidence & Clarity
With a legacy spanning decades, we have cultivated a remarkable brand distinguished by our consistent commitment to innovation and fostering enduring relationships with our customers. We vigilantly track market trends and emphasise innovation to deliver tangible value to our clientele. This firm approach enables us to uphold our standing as a trusted partner across key industries.
India faces significant growth opportunities and is well-positioned to witness sustainable and robust advancement in the mobility and energy sectors.
Nations rise when their mobility and energy sectors grow. We help key industries in their progress by exercising control over their use of resources.
₹ 15 lakh crore
India Aims to Double its Auto Industry Size to ₹ 15 lakh crore by 2024
(Source: Invest in Indian Automobile Industry, Auto Sector Growth Trends (investindia.gov.in))
66.52%
The Indian Electric Vehicle Market is Expected to Experience a CAGR of 66.52% between 2022 and 2029, with a Projected Growth from USD 3.21 billion to USD 113.99 billion
(Source: India’s Booming Electric Vehicle Industry – CII Blog)
22.5 million
India is Expected to have 22.5 million End-of-Life Vehicles by 2025
(Source: Feeding on scraps: India’s vehicle scrapping policy finds few takers (the-captable.com))
Third-largest
Producer and the Second-largest Consumer of Electricity Worldwide
280 GW
The Country has Set a Goal to Reach a Solar Capacity of 280 GW by 2030
Our diverse revenue streams drive our growth, notably in the Mobility segment, where our exceptional service and quality have boosted market share. We also lead in automobile recycling in India and supply essential components to the energy and home appliance sectors. As a top supplier of electrical steel components, we prioritise capitalising on increased localisation under PLI schemes.
At MAL, our team is dedicated to consistently pioneering innovative products. This characteristic has helped us to evolve from a mere steel processor to a value-added component manufacturer adept at meeting the industry’s dynamic demands.
89
New Products Developed in the Last Three Years
Our optimal capital structure has strongly positioned us to pursue and realise our growth objectives. We have consistently maintained robust cash reserves and a healthy bank balance, enhancing our liquidity profile significantly.
0.33
Net Debt to Equity Ratio in FY 2023-24
₹ 293.2 crore
EBITDA
Our consistent track record of impressive financial performance is a testament to our Company’s dedication to delivering value to our shareholders. This achievement stems from our well-crafted business strategies, operational excellence, and agility in responding to shifting market dynamics.
19.0%
Revenue Growth (5-year CAGR)
13.3%
PAT Growth (5-year CAGR)
Investments in our cut-to-length line and slitting line at the Chakan plant mark a significant stride in bolstering our capabilities within the mobility sector. These strategic expansions are not merely about scaling up production capacity; they are about positioning ourselves to address the dynamic market demands with heightened efficiency and flexibility.
We are investing in one of the most high-end tandem press and tranfer press lines for manufacturing Skin Panel and Class B Components for EV/ICE 4-wheelers. Further we are installing world-class robots for assemblies for EV/ICE 4-wheelers. These investments mark our entry into Tier 1 Auto Component space for the mobility segment.
These investments underscore our commitment to meeting the evolving needs of our customers, while ensuring we remain at the forefront of the competitive landscape in our industry. By focussing on the key areas of development and innovation, we are primed to navigate market shifts effectively and sustain our growth trajectory.
₹ 273.9 crore
Capex Incurred in FY 2023-24
At the heart of our Company’s success lies the collective expertise and experience of our diverse team of professionals. We are committed to acting in our Company’s best interests and the well-being of our stakeholders. Accordingly, our Board and Management team, which boast diverse backgrounds and areas of expertise, collaborate harmoniously throughout our business operations. Together, we are dedicated to achieving our strategic objectives, which include enhancing profitability, optimising efficiency, and embedding sustainability principles into our operations.
28+
Average Experience of the Senior Leadership Team
