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

241 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Cash Flow Statement | for the year ended 31 st March, 2023 Rupees crores 2023 2022 [Refer note 44 (B)] A. CASH FLOW FROM OPERATING ACTIVITIES: Profit before exceptional items and tax............................................................................................................................................................................ 9,560.32 6,356.65 Adjustments for: Depreciation, amortisation and impairment expense.......................................................................................................................................... 3,154.46 2,498.39 Gain on foreign exchange fluctuations (net)............................................................................................................................................................. (58.74) (95.70) Dividend on investment and interest income........................................................................................................................................................... (1,988.05) (1,720.95) Gain arising on financial assets/ liabilities measured at Fair Value through profit or loss (net).......................................... (304.30) (182.64) Finance costs ................................................................................................................................................................................................................................... 272.78 226.18 Share based payment expenses......................................................................................................................................................................................... 106.63 80.47 (Profit)/Loss on property, plant and equipment sold/scrapped/written off (net)............................................................................. (62.97) 21.50 1,119.81 827.25 Operating profit before working capital changes........................................................................................................................................................ 10,680.13 7,183.90 Changes in: Trade and other receivables.................................................................................................................................................................................................. (2,197.80) (1,401.85) Inventories.......................................................................................................................................................................................................................................... (3,083.66) (1,136.94) Trade and other payables and provisions.................................................................................................................................................................... 5,668.58 2,930.05 387.12 391.26 Cash generated from operations............................................................................................................................................................................................. 11,067.25 7,575.16 Income taxes paid (net of refunds and interest on refunds).............................................................................................................................. (1,937.95) (598.43) NET CASH FLOW FROM OPERATING ACTIVITIES (A) ......................................................................................................................................... 9,129.30 6,976.73 B. CASH FLOW FROM INVESTING ACTIVITIES: Payments to acquire property, plant and equipment and intangible assets........................................................................................... (4,354.23) (3,348.95) Proceeds from sale of property, plant and equipment and intangible assets........................................................................................ 922.96 57.40 Payments to acquire non-current investments - subsidiaries............................................................................................................................ (3,144.37) (608.56) Payments to acquire non-current investments - associates............................................................................................................................... — (16.07) Payments to acquire non-current investments - joint ventures....................................................................................................................... (10.20) (129.00) Payments to acquire other non-current investments.............................................................................................................................................. — (3.33) Proceeds from sale of other non current investments.......................................................................................................................................... 47.13 4.04 Payments to acquire current investments....................................................................................................................................................................... (35,880.17) (49,204.85) Proceeds from sale of current investments................................................................................................................................................................... 34,607.61 46,224.29 Share application money paid.................................................................................................................................................................................................... — (62.27) Changes in earmarked balances and margin accounts with banks................................................................................................................ (0.09) 25.84 Bank deposits placed ...................................................................................................................................................................................................................... (3,677.75) (4,262.02) Bank deposits matured................................................................................................................................................................................................................... 3,452.44 6,422.12 Interest received.................................................................................................................................................................................................................................. 305.63 361.77 Dividends received............................................................................................................................................................................................................................. 1,607.14 1,363.02 Receivables/Loans/Inter-corporate deposits given...................................................................................................................................................... (1,332.41) (1,655.18) Receivables/Loans/Inter-corporate deposits refunded............................................................................................................................................. 1,590.11 311.63 Exceptional Items : Proceeds from sale of non current investments in subsidiaries, associates, joint ventures .......................................... 1,112.72 556.53 NET CASH FLOW USED IN INVESTING ACTIVITIES (B) ..................................................................................................................................... (4,753.48) (3,963.59)