MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

222 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Cash Flow Statement | for the year ended 31 st March, 2022 Rupees crores 2022 2021 [Refer note 44 (B)] A. CASH FLOW FROM OPERATING ACTIVITIES: Profit before exceptional items and tax.............................................................................................................. 6,444.13 5,390.73 Adjustments for: Depreciation, amortisation and impairment expense..................................................................................... 2,451.06 2,369.92 Gain on foreign exchange fluctuations (net)................................................................................................... (95.70) (30.08) Dividend on investment and interest income.................................................................................................. (1,743.82) (945.75) Gain arising on financial assets/ liabilities measured at Fair Value through profit or loss (net)................ (182.62) (132.56) Finance costs. ...................................................................................................................................................... 223.00 396.31 Share based payment expenses......................................................................................................................... 81.08 95.02 Loss on property, plant and equipment sold/scrapped/written off (net) ..................................................... 17.90 1.46 Operating profit before working capital changes.............................................................................................. 7,195.03 7,145.05 Changes in: Trade and other receivables. ............................................................................................................................. (1,325.56) (40.08) Inventories........................................................................................................................................................... (1,099.88) (721.31) Trade and other payables and provisions. ....................................................................................................... 2,922.18 4,348.02 496.74 3,586.63 Cash generated from operations.......................................................................................................................... 7,691.77 10,731.68 Income taxes paid (net of refunds and interest on refunds)............................................................................. (598.08) (1,138.05) NET CASH FLOW FROM OPERATING ACTIVITIES (A) ........................................................................................... 7,093.69 9,593.63 B. CASH FLOW FROM INVESTING ACTIVITIES: Payments to acquire property, plant and equipment and intangible assets.................................................... (3,246.91) (3,385.47) Proceeds from sale of property, plant and equipment and intangible assets. ................................................ 61.00 74.20 Payments to acquire non-current investments – subsidiaries............................................................................. (608.56) (4,293.76) Payments to acquire non-current investments – associates. .............................................................................. (16.07) (68.29) Payments to acquire non-current investments – joint ventures. ....................................................................... (129.00) (257.38) Payments to acquire other non-current investments.......................................................................................... (3.33) (37.21) Proceeds from sale of other non current investments ...................................................................................... 4.04 — Payments to acquire current investments............................................................................................................ (71,508.77) (78,881.94) Proceeds from sale of current investments.......................................................................................................... 68,528.19 76,747.71 Share application money paid. ............................................................................................................................. (62.27) — Changes in earmarked balances and margin accounts with banks . ................................................................ 25.84 (30.20) Bank deposits placed. ............................................................................................................................................ (4,262.02) (9,343.65) Bank deposits matured.......................................................................................................................................... 6,422.12 5,813.97 Deposits with Financial Institutions placed . ....................................................................................................... (351.99) (4.19) Deposits with Financial Institutions matured ..................................................................................................... 2.32 — Interest received..................................................................................................................................................... 365.85 268.75 Dividends received. ................................................................................................................................................ 1,363.02 565.04 Receivables/Loans/Inter-corporate deposits given .............................................................................................. (1,808.19) (2,255.98) Receivables/Loans/Inter-corporate deposits refunded ........................................................................................ 309.31 430.50 Exceptional Items: Proceeds from sale of non current investments in subsidiaries, associates, joint ventures ................... 556.53 121.96 NET CASH FLOW USED IN INVESTING ACTIVITIES (B) . ....................................................................................... (4,358.89) (14,535.94)