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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Tech Mahindra    TECHM   INE669C01036

TECH MAHINDRA

(TECHM)
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Tech Mahindra : Commits to 22% Reduction in Greenhouse Gas Emissions by 2030 and 50% by 2050; Sets Emission Targets in line with the level of decarbonization required to keep global temperature increase below 2 degrees Celsius as approved by SBTi

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02/12/2019 | 10:56am EST

Dallas, New Delhi -Tech Mahindra Ltd. a leading provider of digital transformation, consulting and business re-engineering services and solutions has committed to reduce its absolute scopes 1 and 2 GHG (Greenhouse Gas) emissions 22% by 2030 and 50% by 2050, from a 2016 base-year. The same has been approved by the Science Based Targets initiative (SBTi).

The SBTi approval confirms that Tech Mahindra's long-term targets are in line with the level of decarbonization required to keep global temperature increase below 2-degreeC, as compared to pre-industrial temperatures, as set out in the Paris Agreement on climate change.

Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, 'Tech Mahindra is committed to the Paris agreement targets and is consciously adopting a strategy which will deliver innovative solutions without adversely affecting the environment. SBT gives us a clear roadmap to optimize our carbon footprint and is enabling us to move towards a low carbon economy that will reduce future climate change risks.'

Tech Mahindra is focusing on improving energy efficiency through process optimization, energy conservation initiatives, increased use of renewable energy and by investing in low emission and green technologies.

Cynthia Cummis, Director of Private Sector Climate Mitigation at World Resources Institute, one of the Science Based Targets initiative partners, said: 'We congratulate Tech Mahindra on setting a science-based target. By aligning their strategy with the goals of the Paris Agreement, they are taking a leading role in the low-carbon transition and positioning their business to thrive as the global economy shifts to a sustainable future.'

The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses and approves companies' targets. Science-based targets provide companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions.

Targets adopted by companies to reduce greenhouse gas emissions are considered 'science-based' if they are in line with the level of decarbonization required to keep global temperature increase below 2 degrees Celsius.

About Tech Mahindra

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise. We are a USD 4.9 billion company with 118,390+ professionals across 90 countries, helping over 930 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is the highest ranked Non-U.S. company in the Forbes Global Digital 100 list (2018) and in the Forbes Fab 50 companies in Asia (2018).

We are part of the USD 21 billionMahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.

Connect with us on www.techmahindra.com || Our Social Media Channels

For more information on Tech Mahindra, please contact:

Tuhina Pandey, Global Corporate Communications

Email :media.relations@techmahindra.com ; tuhina.pandey@TechMahindra.com

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (INR)
Sales 2019 350 B
EBIT 2019 53 608 M
Net income 2019 43 619 M
Finance 2019 49 222 M
Yield 2019 1,98%
P/E ratio 2019 16,69
P/E ratio 2020 14,96
EV / Sales 2019 2,14x
EV / Sales 2020 1,88x
Capitalization 797 B
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Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 851  INR
Spread / Average Target 4,7%
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Managers
NameTitle
Chander Prakash Gurnani Chief Executive Officer, Executive Director & MD
L. Ravichandran President & Chief Operating Officer
Anand Gopal Mahindra Non-Executive Chairman
Manoj Bhat Chief Financial Officer
Meleveetil Damodaran Independent Non-Executive Director
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