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

332 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 26. Cost of Materials Consumed Rupees crores Particulars 2022 2021 Opening inventory.................................................................................................................................................... 3,357.03 3,863.48 Add: Purchases........................................................................................................................................................... 47,523.54 32,857.55 50,880.57 36,721.03 Less: Adjustment on account of disposal/deconsolidation of subsidiary.............................................................. (20.06) (501.09) 50,860.51 36,219.94 Less: Closing Inventory.............................................................................................................................................. 4,491.90 3,357.03 Foreign currency translation difference.................................................................................................................. (103.13) (65.35) Total ............................................................................................................................................................................ 46,265.48 32,797.56 27. Changes in inventories of finished goods, work-in-progress and stock-in-trade Rupees crores Particulars 2022 2021 Inventories at the beginning of the year Finished goods produced.......................................................................................................................................... 2,717.90 3,468.99 Work-in-progress....................................................................................................................................................... 360.17 484.04 Stock-in-trade. ........................................................................................................................................................... 935.93 1,223.23 Manufactured Components...................................................................................................................................... 148.95 130.33 4,162.95 5,306.59 Less: Inventories on disposal/deconsolidation of subsidiary Finished goods produced.......................................................................................................................................... (10.77) (575.21) Work-in-progress....................................................................................................................................................... (13.16) (155.66) Stock-in-trade. ........................................................................................................................................................... (2.99) (241.70) Manufactured Components...................................................................................................................................... — (11.40) (26.92) (983.97) Less: Inventories at the end of the year Finished goods produced.......................................................................................................................................... 3,268.45 2,717.90 Work-in-progress....................................................................................................................................................... 277.02 360.17 Stock-in-trade. ........................................................................................................................................................... 1,110.29 935.93 Manufactured Components...................................................................................................................................... 290.16 148.95 4,945.92 4,162.95 Foreign currency translation difference.................................................................................................................. (51.77) (24.08) Net (increase)/decrease in inventories .................................................................................................................... (861.66) 135.59 28. Employee Benefits Expense Rupees crores Particulars 2022 2021 Salaries and wages, including bonus....................................................................................................................... 7,277.66 6,806.34 Contribution to provident and other funds........................................................................................................... 517.48 464.77 Share based payment expenses. .............................................................................................................................. 108.42 142.72 Staff welfare expenses.............................................................................................................................................. 483.18 399.43 Total ............................................................................................................................................................................ 8,386.74 7,813.26