New Delhi, Nov. 12 -- Mahindra and Mahindra Ltd's (M&M) plans to improve return on equity (ROE) and ensure appropriate capital allocation across businesses is on track, Anish Shah, group chief financial officer and deputy managing director, M&M, said on Wednesday.

"If you look at 2002 to August 2018, M&M was the best-performing stock on Nifty. The key driver of that was the financial performance. Earnings grew 34% annually. We had an average ROE of 22% and there was a very strong cash generation. So, we are going back to those three metrics to achieve the fiscal discipline we had then," Shah said in an interview about the company's strategic plan of achieving 18% ROE across all business units.

The M&M management is evaluating loss-makin...