annual-report-FY2020

303 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2019-20 Consolidated Cash Flow Statement | for the year ended 31 st March, 2020 Rupees crores 2020 2019 A. CASH FLOW FROM OPERATING ACTIVITIES : Profit before exceptional items and tax.............................................................................................................. 2,585.92 7,280.00 Adjustments for :  Depreciation, amortisation and impairment expense..................................................................................... 4,976.29 3,990.77  Loss/(Gain) on foreign exchange fluctation (net)............................................................................................ 202.94 (34.22)  Dividend on investments and interest income [excluding Rs. 11,525.88 crores (2019: Rs. 9,962.80 crores) in respect of financial services business].......................................................................................................... (530.38) (509.87)  Interest, commitment and finance charges [excluding Rs. 5,349.32 crores (2019: Rs. 4,386.16 crores) in respect of financial services business]............................................................................................................... 715.33 635.19  Equity-settled share-based payment expenses................................................................................................. 174.47 143.04  Net gain on financial instruments measured at fair value............................................................................. (296.49) (408.88)  (Gain)/Loss on property, plant and equipment sold/scrapped/written off (net)........................................... (53.96) 16.31 5,188.20 3,832.34 Operating Profit before working capital changes.............................................................................................. 7,774.12 11,112.34 Changes in :  Trade and other receivables.............................................................................................................................. 2,415.01 (278.30)  Financial services receivable............................................................................................................................... (3,924.73) (13,433.40)  Inventories........................................................................................................................................................... 1,316.36 (2,276.20)  Trade and other payables and provisions........................................................................................................ (6,775.09) 3,465.67 (6,968.45) (12,522.23) Cash generated from/(used in) operations.......................................................................................................... 805.67 (1,409.89) Income taxes paid (net of refunds)...................................................................................................................... (2,256.60) (2,937.40) Net cash flow from operating activities .............................................................................................................. (1,450.93) (4,347.29) B. CASH FLOW FROM INVESTING ACTIVITIES : Payment to acquire property, plant & equipment and other intangible assets.............................................. (6,896.02) (7,340.01) Proceeds from sale of property, plant & equipment and other intangible assets........................................... 101.90 141.54 Payment to acquire investments........................................................................................................................... (1,98,567.80) (1,96,473.58) Proceeds from sale of investments....................................................................................................................... 1,98,131.58 1,95,897.54 Interest received (excluding financial services business)..................................................................................... 372.38 314.37 Dividends received from joint ventures and associates...................................................................................... 695.76 444.60 Proceeds from buy-back of shares by associate.................................................................................................. 446.31 — Dividends received from others............................................................................................................................ 26.28 21.09 Bank deposits placed............................................................................................................................................. (3,341.68) (2,751.76) Bank deposits matured.......................................................................................................................................... 2,583.41 2,250.65 Net change in earmarked and margin account.................................................................................................. (150.53) (69.99) Purchase of investment in joint ventures and associates................................................................................... (418.27) (319.38) Purchase consideration paid on acquisition of subsidiaries net of cash acquired........................................... (58.74) 4.97 Consideration received on disposal of subsidiaries............................................................................................. 174.59 — Consideration received on disposal of joint ventures and associates............................................................... — 711.79 Net cash used in investing activities .................................................................................................................... (6,900.83) (7,168.17)