annual-report-FY2020

62 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Indian Accounting Standards along with all relevant documents and the Auditors’ Report form part of this Annual Report. The Consolidated Financial Statements presented by the Company include the nancial results of its subsidiary companies, associates and joint ventures. The Financial Statements as stated above are also available on the website of the Company and can be accessed at the Web-link: https://www.mahindra.com/ resources/FY20/AnnualReport.zip Subsidiary, Joint Venture and Associate Companies The Mahindra Group Companies continue to contribute to the overall growth in revenues and overall performance of your Company. Tech Mahindra Limited, Flagship Company in the IT Sector, has reported a consolidated operating revenue of Rs. 36,868 crores in the current year as compared to Rs. 34,742 crores in the previous year, an increase of 6%. Its consolidated pro t after tax after non-controlling interests is Rs. 4,033 crores as compared to Rs. 4,298 crores in the previous year, a decrease of 6%. The Group’s nance company, Mahindra & Mahindra Financial Services Limited (Mahindra Finance), reported a consolidated operating income of Rs. 11,883 crores during the current year as compared to Rs. 10,372 crores in the previous year, a growth of 15%. The consolidated pro t after tax after non-controlling interests for the year is Rs. 1,075 crores as compared to Rs. 1,827 crores in the previous year. Mahindra Lifespace Developers Limited, the subsidiary in the business of real estate and infrastructure registered a consolidated operating income of Rs. 611 crores as compared to Rs. 593 crores in the previous year. The consolidated loss after non-controlling interest for the year is Rs. 193 crores as compared to profit of Rs. 120 crores in the previous year. Mahindra Holidays & Resorts India Limited, the subsidiary in the business of timeshare registered a consolidated operating income of Rs. 2,372 crores as compared to Rs. 2,239 crores in the previous year. The consolidated loss after non-controlling interests for the year is Rs. 132 crores as compared to profit of Rs. 60 crores in the previous year. Mahindra Logistics Limited, a listed subsidiary in the logistics business has registered a consolidated operating income of Rs. 3,471 crores as compared to Rs. 3,851 crores in the previous year. The consolidated pro t after tax after non-controlling interests for the year is Rs. 55 crores as compared to Rs. 86 crores in the previous year. Ssyangyong Motor Company, the Korean subsidiary of the Company has reported revenues of Rs. 19,972 crores in the current scal year as compared to Rs. 24,184 crores in the previous year. The loss for the year is Rs. 3,029 crores as compared to loss of Rs. 345 crores in the previous year. The consolidated group pro t before exceptional item and tax for the year is Rs. 2,586 crores as against Rs. 7,280 crores in the previous year. The consolidated pro t after tax after non-controlling interest and exceptional items for the year is Rs. 127 crores as against Rs. 5,315 crores in the previous year. During the year under review, Mahindra Finance CSR Foundation, Merakisan Private Limited, Mahindra Bangladesh Private Limited, MSPL International DMCC, Meru Travel Solutions Private Limited, Meru Mobility Tech Private Limited, V-Link Automotive Services Private Limited, V-Link Fleet Solutions Private Limited and Fifth Gear Ventures Limited became subsidiaries of your Company. During the year under review, Orizonte Business Solutions Limited, Mahindra International UK Ltd, Mahindra Defence Naval Systems Limited, Åre Villas 1 AB, Åre Villas 2 AB and Cleansolar Renewable Energy Private Limited ceased to be subsidiaries of your Company. Subsequent to the year end, Graphic Research Design s.r.l. and Divine Solren Private Limited ceased to be subsidiaries of your Company. During the year under review, Machinepulse Tech Private Limited changed its name to Mahindra Teqo Private Limited, Passeport Sante SL changed its name to Holiday Club Canarias Vacation Club SLU and Mahindra Graphic Research Design s.r.l changed its name to Graphic Research Design s.r.l. Subsequent to the year end, Mahindra Asset Management Company Private Limited changed its name to Mahindra Manulife Investment Management Private Limited and Mahindra Trustee Company Private Limited changed its name to Mahindra Manulife Trustee Private Limited. A Report on the performance and nancial position of each of the subsidiaries, associates and joint venture companies included in the Consolidated Financial Statement and their contribution to the overall performance of the Company, is provided in Form AOC-1 and forms part of this Annual Report. The Policy for determining material subsidiaries as approved by the Board is uploaded on the Company’s website and can be accessed at the Web-link: https:// www.mahindra.com/resources/FY20/AnnualReport.zip