MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

105 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Sr. No. Details of Technology Imported Year of Import Status of Technology Absorption 120. Hydraulic Compression Stopper @ 2023 In the process of Absorption 121. Pillar to Pillar 3-Screen Display & HMI @ 2023 In the process of Absorption 122. OTA Updates - Software Defined Vehicle @ 2023 In the process of Absorption 123. OTT Entertainment Apps - Software Defined Vehicle @ 2023 In the process of Absorption 124. DOMS - Software Defined Vehicle @ 2023 In the process of Absorption 125. Ambient Lighting @ 2023 In the process of Absorption 126. Animation and Start up Sequencing @ 2023 In the process of Absorption 127. Ice Cube Theme in Head lamp @ 2023 In the process of Absorption @ Areas where Technology not fully absorbed, reasons thereof: A ll imported technologies ‘In the process of Absorption’ would be absorbed as per the respective Technology Absorption Schedule. (iv) The expenditure incurred on Research and Development: Th e Company spent Rs. 2,780.57 crores (including Rs. 1,940.96 crores on Capital Expenditure) for Research & Development work during the year, which was approximately 3% of the total turnover. (C) Foreign Exchange Earnings and Outgo Foreign Exchange earnings and outgo during the year under review are as follows: (Rs. in crores) Total Foreign Exchange Earned and Outgo For the Financial Year ended 31 st March, 2023 For the Financial Year ended 31 st March, 2022 Foreign Currency Earnings 4,466.66 3,328.15 Foreign Exchange Outgo 7,048.74 2,789.11 For and on behalf of the Board ANAND G. MAHINDRA Chairman DIN: 00004695 Mumbai, 26 th May, 2023