As we draw the curtain on yet another impactful and inspiring year at MMA, it gives me immense pleasure to present this special AGM edition of Business Mandate, released on the momentous occasion of the MMA 69th AGM and Awards Function. This special issue is not just a reflection of the year gone by—it is a celebration of relentless pursuit, visionary leadership, and the collective spirit that defines the MMA community.
MMA continues to grow from strength to strength, solidifying its position as India’s top-ranked management association and setting the benchmark in promoting excellence, innovation, and inclusivity in management practices. Our commitment to the founding vision remains unwavering—delivering high-impact, multidisciplinary programs that enrich professionals and serve society at large.
This year’s highlights speak volumes about this commitment. The launch of “Turning Points: Management Lessons from Legends – Volume 2” marks a milestone in our intellectual journey. This powerful compilation of 22 curated insights, drawn from our vast MMA Lecture archives and enhanced with embedded videos, offers timeless lessons in leadership, strategy, and resilience. Now available on Amazon, it is a must-have for aspiring and seasoned leaders alike.
We also take pride in the launch of our 11th chapter at Vellore, the award of the ISO Certification recognising our process excellence, and the growing footprint of our digital outreach. Each initiative stands as a testament to the teamwork, dedication, and visionary contributions of our members, past presidents, Management Committee leaders, and the hardworking MMA Secretariat.
At the heart of this issue lies our most celebrated event—the 23rd MMA Awards for Managerial Excellence. This year’s recipients—MRF Limited, Baettr India Pvt Ltd, Cholamandalam Investment and Finance Co. Ltd, and Vellore Institute of Technology (VIT)—exemplify the spirit of innovation, integrity, and performance. Chosen through a rigorous, scientific selection process crafted by Deloitte, our awards partner, these organisations stand as shining examples of leadership in their respective domains.
Leadership in the Age of Relentless Disruption
As we mark the 69th Annual General Meeting of Madras Management Association, we find ourselves at a defining moment in history—one where the contours of leadership are being redrawn in real time. Across Corporate India, boardrooms are abuzz with conversations that reflect the complexity and volatility of our times. From disruptive tariffs and fragile supply chains to simmering geopolitical tensions, the canvas on which leaders operate today is filled with uncertainty and unprecedented change.
The planning cycles that once gave us comfort have become shorter and less predictable. Organisations are no longer simply looking for functional expertise in their leaders; they seek professionals who exhibit resilience under pressure, strategic composure during economic shocks, and the agility to pivot when faced with crises. Today’s leaders must be tech-savvy, fluent in ambiguity, and capable of uniting diverse teams under a shared, human-centric vision.
The core challenge, then, is not just to manage change, but to lead through it.
This shift calls for a mind-set rooted in entrepreneurial spirit, speed, and global sensibilities. Strategy is no longer a static blueprint; it is a living framework that must adapt continuously. In this new era, the ability to foster a culture of innovation, experimentation, and emotional intelligence will separate great leaders from good ones.
Recognising this reality, MMA has curated a rich calendar of programs focused on developing such future-ready leadership. In this special AGM edition of Business Mandate, we spotlight some of the most insightful and thought-provoking articles of the recent events at MMA.
Don’t miss our in-depth feature on “From Boardrooms to Banyan Trees: A Journey of Conscious Leadership”—a session that beautifully captures the essence of reflective, purposeful leadership. Equally inspiring is our coverage of “Masterclass on Entrepreneurship” by Mr. C.K. Ranganathan, an invigorating exploration of the entrepreneurial journey, followed by a powerful interaction with participants. His insights on innovation, risk-taking, and resilience offer practical lessons for leaders at every stage of their careers.
At MMA, our endeavour remains steadfast: to be a catalyst for meaningful leadership transformation. We believe that the right content can fuel courage, spark introspection, and guide our members through ambiguity with confidence and clarity.
I invite you to immerse yourself in this edition—not just to read, but to reflect, recharge, and reimagine your own journey as a leader.
Healing Forward: Technology, Wellness & the Human Touch
The global health sector is in the midst of a transformative shift—one that extends far beyond hospital corridors and into the very fabric of society. As rising costs, unequal access, and inconsistent health outcomes challenge systems across the world, innovation is stepping in as both a disruptor and a unifier.
Today, we are witnessing a new age in healthcare—one where empathy and technology converge to redefine patient care. From advanced diagnostics to wearable devices, AI-powered screenings to robotic surgeries, the healthcare experience is becoming more proactive, predictive, and profoundly patient-centric. Weight-loss medications like Ozempic, which have garnered viral popularity—thanks in part to celebrity endorsements on social media—are just one example of how swiftly medical innovations are capturing public imagination and shifting consumer behaviour.
Yet, at the heart of this revolution lies a powerful reminder: technology is not a replacement for compassion, but a complement to it.
At MMA, we recognise the importance of equipping our community with knowledge that goes beyond the headlines. In line with this vision, we recently hosted an insightful event titled “Immunity Intelligence: Wellness Strategies for High-Performance Living.” This session featured four distinguished medical professionals who shared science-backed wellness strategies tailored for today’s high-performance lifestyles. Their guidance underscored a vital truth: immunity is not just a medical concept—it’s a strategic advantage in modern living.
I invite you to watch the session recording and reflect on how the intersection of wellness, performance, and purpose can shape both personal and professional growth.
At MMA, we believe that when technology and compassion meet, healthcare becomes not only scalable and smarter but also deeply human. This issue of Business Mandate captures that very spirit, and I hope it inspires you to embrace wellness as a strategic pillar in your journey forward. Stay informed. Stay inspired. Stay well.
From Corner Office to Exit Door
A troubling trend is unfolding in India Inc. In the first quarter of FY 2025–26 alone, more than 125 Chief Financial Officers (CFOs) have exited listed companies—an increase of nearly 25% over previous years. Even more unsettling is the manner of some departures: sudden exits with vague, often cryptic mentions of “personal reasons.”
Such abrupt resignations inevitably raise red flags around corporate governance, regulatory compliance, and internal controls. Under SEBI regulations, Key Managerial Personnel—including CFOs—are expected to disclose clear and substantive reasons for stepping down. Ambiguity at this level erodes stakeholder trust and undermines the very foundation of transparency that modern businesses are expected to uphold.
Boards must go beyond mere formalities. The onus lies with them to scrutinise, reconcile, and respond—especially when financial irregularities emerge after such exits. Accountability cannot be a deferred responsibility; it must be an integral part of boardroom culture.
At the Madras Management Association, we believe that informed finance leadership is central to the ethical and sustainable growth of organisations. In response to these developments, the MMA CFO Forum is launching a series of monthly sessions focused on high-impact issues facing the finance community today.
We begin with a particularly timely session on “Capital Gains Rewired: What You Must Know Before Filing ITR for FY 2024–25” on 8th July 2025 at MMA Management Centre. This session will decode the latest tax updates, guide professionals on compliance, and help finance teams make better, smarter filing decisions.
I encourage you to nominate your finance team for this and future sessions—because in today’s climate, knowledge isn’t just power—it’s protection.
Axiom-4: One Universe, One Family!
In a proud and momentous milestone for India and humanity, Group Captain Subhanshu Shukla of the Indian Air Force has become the second Indian astronaut to venture into space, following the legendary Wg Cdr Rakesh Sharma. As part of the Axiom-4 mission, his journey represents not only national achievement but the triumph of global collaboration.
India’s participation in Axiom-4 is more than symbolic—it is a powerful step forward in addressing the pressing challenges of our times. From health and food security to developing resilience against climate-induced weather extremes, space research holds the key to unlocking transformative solutions for Earth’s most urgent concerns.
While India prepares for its indigenous crewed mission—Gaganyaan, scheduled for 2027—Axiom-4 reminds us that partnerships across borders are essential for progress. Whether in space or here on Earth, collaboration in science and innovation must transcend boundaries for the collective good of humankind.
On a personal note, it is a moment of pride to see Group Captain Shukla, my colleague from the Indian Air Force, carry the aspirations of over a billion Indians into orbit. I extend my heartfelt wishes to him and the entire team for the continued success of the mission and a safe return to Earth.
Let us take inspiration from this remarkable journey to strengthen our commitment to scientific exploration, international cooperation, and a shared future.
Cool It Now or Pay Later: The Urban Heat Wake-Up Call
Climate science is no longer predictive—it is descriptive of the world we are already living in.
According to the World Meteorological Organization, Asia is warming at twice the global average, and India stands among the most vulnerable. Our cities are turning into heat islands, where rising temperatures are not just an environmental issue but a public health, productivity, and economic crisis in the making.
The time to act is now.
Indian urban centers must reimagine themselves as climate-resilient habitats. This means embedding green spaces, building shaded walkways, restoring water bodies, and investing in sustainable cooling infrastructure. These aren’t just cosmetic interventions—they are essential tools for building more livable, inclusive, and economically competitive cities.
The irony is not lost on us: the science is here, the funds are becoming available, and the solutions are proven. What we lack is the urgency, and perhaps the humility, to design cities for the realities people are already enduring, especially those on the economic and social margins.
At MMA, we believe that business leaders, urban planners, policymakers, and citizens must converge on this issue with unified intent. Cooling our cities is not merely a climate imperative—it’s a human and economic necessity. Let us not wait until the cost is unbearable.
Let’s cool it now. Or pay the price later.
Grey Market, Red Flags: Navigating the IPO Hype
The recent spotlight on the grey market in equity trading comes with more cautionary tales than success stories—especially for retail investors. Several were recently caught off guard, lured by inflated premiums and speculation that ultimately didn’t translate into real value. The message is clear: when it comes to unregulated spaces, proceed with caution.
The grey market, by its very nature, is opaque and dominated by a small circle of insiders with access to scarce pre-IPO shares. This limited supply often leads to wild price swings, creating a distorted perception of value well before a company is officially listed. For retail investors, this environment offers more risk than reward, with little recourse in case of loss.
The Grey Market Premium (GMP) is frequently seen as a shortcut to gauge IPO success. But relying solely on GMP to make investment decisions is both risky and reductive. It is, at best, an informal signal—one that must be assessed in conjunction with a company’s fundamentals, market conditions, promoter credibility, and financial disclosures.
At MMA, our endeavour is to promote financial literacy, transparency, and responsible investing. We encourage our members to look beyond the noise, dig deeper, and make decisions that are informed, not impulsive. After all, in today’s volatile markets, caution is not conservatism—it is wisdom.
Let’s remember: better to be cautious than foolhardy.
As always, we would be happy to hear your views, comments, and suggestions.
Look forward to seeing you at the MMA AGM; your presence would add tremendous value to the occasion!
Happy reading!
