annual-report-FY2020

288 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS (ii) Items in respect of which the Company has succeeded in appeal, but the Income-tax Department is pursuing/likely to pursue in appeal/reference and exclusive of the effect of similar matters in respect of assessments remaining to be completed: – Income-tax matters: Rs. 99.09 crores (2019: Rs. 80.39 crores). (c) In respect of (a) & (b) above, it is not practicable for the Company to estimate the closure of these issues and the consequential timings of cash flows, if any. (B) Commitments: The estimated amount of contracts remaining to be executed on capital account and not provided for as at 31 st March, 2020 is Rs. 1,783.55 crores (2019: Rs. 1,587.42 crores) and other commitment as at 31 st March, 2020 is Rs. 58.30 crores (2019: Rs. 5.46 crores). 40. Other information: (A) Research and Development expenditure (a) In recognised Research and Development units: (i) Expensed to Profit or Loss, including certain expenditure based on allocations made by the Company, aggregate Rs. 687.18 crores (2019: Rs. 812.27 crores) [excluding depreciation and amortisation of Rs. 1,006.27 crores (2019: Rs. 833.10 crores)]. (ii) Development expenditure incurred during the year Rs. 1,626.52 crores (2019: Rs. 1,299.35 crores). (iii) Capitalisation of assets Rs. 259.88 crores (2019: Rs. 165.10 crores). (b) In other units: (i) Expensed to Profit or Loss, including certain expenditure based on allocations made by the Company, aggregate Rs. 118.56 crores (2019: Rs. 97.50 crores) [excluding depreciation and amortisation of Rs. 86.05 crores (2019: Rs. 34.53 crores)] . (ii) Development expenditure incurred during the year Rs. 251.19 crores (2019: Rs. 189.56 crores). (iii) Capitalisation of assets Rs. 52.55 crores (2019: Rs. 126.52 crores). (B) The Scheme of merger by absorption of the wholly-owned subsidiary, Mahindra Vehicle Manufacturers Limited with the Company has been filed with the National Company Law Tribunal (NCLT). The Appointed Date of the Scheme would be 1 st April, 2019 or such other date as may be approved. The Scheme will be given effect upon receipt of requisite approvals/ consent. (C) Subsequent events The Company has borrowed an amount of Rs. 5,718.00 crores by way of term loans, issue of non convertible debentures, commercial papers etc. subsequent to the reporting date. 41. Previous year’s figures have been regrouped/reclassified wherever necessary. Signatures to Notes 1 to 41 39. Contingent Liability & Commitments (contd.) Nadir B. Godrej M. M. Murugappan Dr. Vishakha N. Desai Vikram Singh Mehta T. N. Manoharan Vijay Kumar Sharma Haigreve Khaitan Shikha Sharma CP Gurnani } Directors In terms of our report attached. For B S R & Co. LLP Chartered Accountants Firm’s Registration No : 101248W/W-100022 Jamil Khatri Partner Membership No : 102527 Mumbai, 12 th June, 2020 Anand G. Mahindra Executive Chairman Dr. Pawan Goenka Managing Director and CEO Dr. Anish Shah Deputy Managing Director and Group CFO Rajesh Jejurikar Executive Director (Auto and Farm Sectors) Narayan Shankar Company Secretary Mumbai, 12 th June, 2020