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

261 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 14. Cash & Cash Equivalents and Bank Balances Rupees crores Particulars 2023 2022 a) Cash and cash equivalents Balances with banks – On Current accounts......................................................................................................................................................................................................................... 547.79 384.75 – Fixed deposits with original maturity less than 3 months.................................................................................................................................... 656.73 261.72 1,204.52 646.47 Cheques, drafts on hand (including in transit).................................................................................................................................................................... 105.51 70.70 Cash on hand.............................................................................................................................................................................................................................................. 0.08 0.09 Total Cash and cash equivalents ............................................................................................................................................................................................ 1,310.11 717.26 b) Bank Balances other than Cash and Cash Equivalents Earmarked balances with banks................................................................................................................................................................................................... 17.18 17.16 Balances with banks on margin accounts............................................................................................................................................................................. 9.78 9.71 Fixed deposits............................................................................................................................................................................................................................................ 3,144.68 2,906.44 Total Other Bank balances .......................................................................................................................................................................................................... 3,171.64 2,933.31 15. Assets held for sale In April, 2022 , the Company agreed to sell 34,75,264 Equity shares of Rs. 10 each in Sanyo Special Steel Manufacturing India Private Limited (Formerly known as Mahindra Sanyo Special Steel Private Limited) (‘SSSMIPL’) aggregating 22.81% of paid-up Equity Share Capital of SSSMIPL to Sanyo Special Steel Co., Ltd (“Sanyo”). The investment has been classified as ‘Asset Held for Sale’ as at 31 st March, 2023. The sale has been completed subsequent to 31 st March, 2023 before the financial statements have been approved for issue by the Board. On 22 nd March, 2023, the Company has approved to sell/transfer assets and/or business pertaining to the Last Mile Mobility Business of the Company to a new company to be incorporated as a wholly owned subsidiary of the Company. The transaction is subject to customary approvals. Accordingly, the identified assets and liabilities have been classified as ‘Held for Sale’ as at 31 st March, 2023 in the Standalone Balance sheet. 16. Equity Share Capital Rupees crores Particulars 2023 2022 Authorised: 22,31,30,00,000 (2022: 1810,00,00,000) Ordinary (Equity) Shares of Rs. 5 each............................................................................ 11,156.50 9,050.00 25,00,000 Unclassified Shares of Rs. 100 each (2022: 25,00,000)................................................................................................................ 25.00 25.00 150,00,00,000 Preference Shares of Rs. 10 each (2022: 150,00,00,000)............................................................................................... 1,500.00 1,500.00 12,681.50 10,575.00 Issued and Subscribed and Paid-up: 1,24,35,28,831 (2022: 1,24,31,92,544) Ordinary (Equity) Shares of Rs. 5 each fully paid up................................................... 621.77 621.60 Less: 4,54,10,607 (2022: 4,65,91,301) Ordinary (Equity) Shares of Rs. 5 each fully paid up issued to M&M ESOP Trust but not yet allotted to employees.............................................................................................................................................................................................. 22.72 23.30 Adjusted Issued, Subscribed and Paid-up Share Capital .................................................................................................................................... 599.05 598.30 a. Reconciliation of number of Ordinary (Equity) Shares and amount outstanding: Particulars 2023 2022 No. of Shares Rupees Crores No. of Shares Rupees Crores Issued, Subscribed and Paid-up : At the beginning of the year ..................................................................................................... 1,24,31,92,544 621.60 1,24,31,92,544 621.60 Add: Shares issued under scheme of arrangement................................................... 3,36,287 0.17 — — 1,24,35,28,831 621.77 1,24,31,92,544 621.60 Less: Shares issued to M&M ESOP Trust but not allotted to employees...... 4,54,10,607 22.72 4,65,91,301 23.30 Adjusted Issued, Subscribed and Paid-up Share Capital ................................... 1,19,81,18,224 599.05 1,19,66,01,243 598.30