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

331 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2021-22 24. Revenue from Operations Revenue from operations comprises of : Rupees crores Particulars 2022 2021 (a) From contract with customers (as defined under Ind AS 115) Sale of products................................................................................................................................................ 69,084.62 54,154.35 Sale of services.................................................................................................................................................. 8,032.54 6,596.18 Income from long term contracts. .................................................................................................................. 399.46 171.15 Other operating revenue................................................................................................................................. 816.61 586.07 78,333.23 61,507.75 (b) From financial services Interest income of financial services business................................................................................................ 10,923.82 11,757.30 10,923.82 11,757.30 (c) Others Government grant and incentives................................................................................................................... 517.06 695.86 Other operating revenue................................................................................................................................. 396.46 316.87 913.52 1,012.73 Total (a + b + c) ......................................................................................................................................................... 90,170.57 74,277.78 The Group undertakes periodic revalidations in the estimate of variable consideration on account of various economic factors. The amount of revenue recognised from performance obligations satisfied (or partially satisfied) in previous periods is aggregating to Rs. 166.28 crores (2021: Rs. 170.08 crores). The following table includes revenue expected to be recognised in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the reporting date: Rupees crores Particulars 2022 2021 Time Band Less than 1 year......................................................................................................................................................... 2,253.92 1,792.48 Greater than 1 year but less than 5 years.............................................................................................................. 4,663.57 3,371.67 Greater than 5 years................................................................................................................................................. 2,990.27 3,105.64 Total ............................................................................................................................................................................ 9,907.76 8,269.79 The Group applies the practical expedient of Ind AS 115 and does not disclose information about remaining performance obligations that have original expected duration of one year or less. Revenue disclosed above does not include estimated amount of variable consideration that are constrained. Reconciliation of revenue recognised in the consolidated statement of profit and loss with contracted price: Rupees crores Particulars 2022 2021 Revenue from contract with customer as per the contract price......................................................................... 80,262.69 63,103.97 Adjustments made to contract price – Trade discounts, volume rebates, return etc.................................................................................................. (3,162.81) (2,669.69) – Deferment of revenue...................................................................................................................................... (210.69) (225.05) – Recognition of revenue out of opening balance of contract liabilities...................................................... 1,444.04 1,298.52 Revenue from contract with customer as per the consolidated statement of profit and loss . ....................... 78,333.23 61,507.75 Revenue disaggregation as per nature of products and geography has been included in segment information (Refer note 41). 25. Other Income Rupees crores Particulars 2022 2021 Interest Income – On financial assets carried at amortised cost...................................................................................................... 412.38 448.21 – On financial assets carried at FVTOCI................................................................................................................... 4.11 7.65 Dividend income – Mutual funds.......................................................................................................................................................... 1.89 5.38 Net gains/(losses) on financial instruments............................................................................................................. 355.65 380.99 Other non-operating income (net of directly attributable expenses).................................................................. 160.48 190.88 Total ............................................................................................................................................................................ 934.51 1,033.11