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

333 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2021-22 29. Finance Cost Rupees crores Particulars 2022 2021 Interest expense on Financial liabilities at amortised cost.................................................................................... 4,755.55 5,856.84 Interest on lease liabilities........................................................................................................................................ 159.05 133.51 Other borrowing cost. .............................................................................................................................................. 103.45 111.87 Total ............................................................................................................................................................................ 5,018.05 6,102.22 Out of the above, finance cost related to: – financial services business. ............................................................................................................................... 4,392.60 5,265.45 – others................................................................................................................................................................. 625.45 836.77 Total ............................................................................................................................................................................ 5,018.05 6,102.22 Other borrowing cost mainly includes discounting charges and unwinding of discount on financial liabilities other than lease liability. 30. Depreciation, Amortisation and Impairment Expense Rupees crores Particulars 2022 2021 Depreciation of property, plant and equipment.................................................................................................... 2,052.35 1,921.33 Depreciation of right-of-use assets.......................................................................................................................... 482.49 460.87 Amortisation of intangible assets............................................................................................................................ 967.82 984.93 Impairment of property, plant & equipment, intangible and intangible under development. ........................ 4.84 10.98 Total ............................................................................................................................................................................ 3,507.50 3,378.11 31. Other Expenses Rupees crores Particulars 2022 2021 Stores consumed........................................................................................................................................................ 273.86 183.68 Tools consumed......................................................................................................................................................... 57.09 45.79 Power & fuel.............................................................................................................................................................. 541.27 429.56 Rent including lease rentals @................................................................................................................................. 271.95 232.79 Insurance.................................................................................................................................................................... 183.15 181.46 Repairs and maintenance......................................................................................................................................... 641.94 608.70 Advertisement. .......................................................................................................................................................... 556.16 356.82 Commission on sales / contracts (net). .................................................................................................................... 241.96 227.12 Freight outward. ....................................................................................................................................................... 3,865.75 3,049.13 Sales promotion expenses. ....................................................................................................................................... 486.71 362.43 Travelling and conveyance expenses....................................................................................................................... 371.99 219.00 Cost of projects.......................................................................................................................................................... 558.30 374.95 Subcontracting, hire and service charges................................................................................................................ 1,593.08 1,310.28 Provision for expected credit losses including write offs (net) $.......................................................................... 2,758.51 4,139.62 Miscellaneous expenses. ........................................................................................................................................... 3,051.24 2,820.59 Total ............................................................................................................................................................................ 15,452.96 14,541.92 @ Short term leases and low value leases recongised as an expense for the year ended 31 st March 2022 is aggregating to Rs. 250.52 crores (2021: Rs. 204.58 crores) and Rs. 21.43 crores (2021: Rs. 28.21 crores) respectively. $ Break-up of expected credit loss recognised during the year is as follows :- Rupees crores Particulars 2022 2021 Expected credit loss on: – Trade receivables............................................................................................................................................... 38.04 96.93 – Contract assets. ................................................................................................................................................. 0.84 0.70 – Financial services receivable............................................................................................................................. 2,725.50 4,017.37 – Other financial assets. ...................................................................................................................................... (5.87) 24.62 Total ............................................................................................................................................................................ 2,758.51 4,139.62