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

330 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 22. Provisions Rupees crores Particulars Non Current Current 2022 2021 2022 2021 Provision for employee benefits....................................................................... 1,021.88 1,187.50 336.91 330.88 Provision for warranties..................................................................................... 441.44 386.55 423.55 416.46 Provision for service coupons............................................................................ 29.80 19.29 81.54 79.95 Provision for others............................................................................................ 4.87 7.54 126.19 247.05 Total ..................................................................................................................... 1,497.99 1,600.88 968.19 1,074.34 Provision for warranty relates to provision made in respect of sale of certain products, the estimated cost of which is accrued at the time of sale. The products are generally covered under a free warranty period ranging from 6 months to 5 years. The movement in provision for warranty and service coupon is as follows : Rupees crores Particulars Provision for warranty Provision for service coupons 2022 2021 2022 2021 Opening Balance............................................................................................... 803.01 1,636.08 99.24 131.82 Additional net provisions recognised during the year.................................. 455.06 401.90 117.24 47.34 Amounts utilised during the year.................................................................... (409.42) (541.10) (108.24) (87.20) Unwinding of discount..................................................................................... 24.33 30.39 3.10 7.28 Disposal / deconsolidation of subsidiary......................................................... (1.62) (804.35) — — Foreign exchange translation differences....................................................... (6.37) 80.09 — — Closing Balance . ................................................................................................ 864.99 803.01 111.34 99.24 23. Other Non-Financial Liabilities Rupees crores Particulars Non Current Current 2022 2021 2022 2021 Statutory dues (other than income taxes)....................................................... — — 2,206.89 1,568.83 Contract Liabilities.............................................................................................. 5,249.92 4,766.00 2,322.62 1,961.06 Others.................................................................................................................. — — 392.21 337.18 Total ..................................................................................................................... 5,249.92 4,766.00 4,921.72 3,867.07 Contract Liabilities represents deferred revenue and advance received from customers. Significant changes in Contract Liabilities during the year are as follows:- Rupees crores 2022 2021 Recognition of revenue arising from contract liabilities....................................................................................... 1,444.04 1,298.52