annual-report-FY2020

104 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Sr. No. Details of Technology Imported Year of Import Status of Technology Absorption 18 Driver knee air bag in IP for better safety 2019 Technology Absorbed 19 EPP Energy absorber 2019 Technology Absorbed 20 Light Weight High Performance Material 2019 Technology Absorbed 21 Heaters in ORVM 2019 Technology Absorbed 22 Selective Catalyst Reduction (SCR) Technology 2020 Technology Absorbed 23 Diesel particulate Filter (DPF) Technology 2020 Technology Absorbed 24 Advanced safety features@ 2020 In the process of Absorption 25 Sequential Turn Indicator@ 2020 In the process of Absorption 26 Adaptive Driving Beam@ 2020 In the process of Absorption 27 Dynamic Bending Lamp@ 2020 In the process of Absorption 28 5-Phase High Efficiency Alternator@ 2020 In the process of Absorption 29 LIN Controlled Switches@ 2020 In the process of Absorption 30 Smart Hydraulics 2020 Technology Absorbed 31 Hill Farming 2020 Technology Absorbed 32 Hydraulic Higher Lift Capacity 2020 Technology Absorbed @ Areas where Technology not fully absorbed, reasons thereof: All imported technologies ‘In the process of Absorption’ would be absorbed as per the respective Technology Absorption Schedule. (iv) The expenditure incurred on Research and Development: The Company spent Rs. 2,974.98 crores (including Rs. 2,169.24 crores on Capital Expenditure) for Research & Development work during the year, which was approximately 6.3% of the total turnover. (C) Foreign Exchange Earnings and Outgo Foreign Exchange earnings and outgo during the year under review are as follows: (Rs. in crores) Total Foreign Exchange Earned and Outgo For the Financial Year ended 31 st March, 2020 For the Financial Year ended 31 st March, 2019 Foreign Currency Earnings 2,237.45 3,063.06 Foreign Exchange Outgo (including remittance of Dividend) 1,096.90 1,005.75 For and on behalf of the Board ANAND G. MAHINDRA Executive Chairman Mumbai, 12 th June, 2020