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

269 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 24. Revenue from Operations Rupees crores Particulars 2023 2022 (a) From contract with customers for goods and services Sale of products......................................................................................................................................................................................................................... 82,032.35 55,536.64 Sale of services........................................................................................................................................................................................................................... 1,218.96 1,138.19 Other operating revenue^.................................................................................................................................................................................................... 817.34 612.64 84,068.65 57,287.47 (b) From other sources of revenue Other operating revenue – Government grant and incentives.............................................................................................................................................................................. 800.81 421.58 – Others............................................................................................................................................................................................................................................ 90.80 77.89 891.61 499.47 Total Revenue from Operations ............................................................................................................................................................................................. 84,960.26 57,786.94 Reconciliation of revenue recognised in the Statement of Profit and Loss with contracted price Rupees crores Particulars 2023 2022 Revenue from contract with customer as per the contract price...................................................................................................................... 87,158.14 58,935.39 Less: Trade discounts, volume rebates, returns etc. ..................................................................................................................................................... (3,089.49) (1,647.92) Revenue from contract with customer as per the statement of Profit and Loss ...................................................................... 84,068.65 57,287.47 Revenue disaggregation as per nature of products and services and geography has been included in segment information (refer note 42). ^ Other operating revenue mainly includes income from oil royalty and scrap sales. 25. Other Income Rupees crores Particulars 2023 2022 (a) Interest Income – On Financial Assets measured at Amortised Cost.......................................................................................................................................... 291.56 353.83 – On Financial Assets at Fair Value Through Other Comprehensive Income................................................................................... 89.35 4.11 (b) Dividend Income – On equity investments in subsidiaries, associates and JV’s..................................................................................................................... 1,607.14 1,363.02 (c) Net Gain arising on financial assets/ liabilities measured at Fair Value through profit or loss......................................... 304.30 182.64 (d) Other non operating income (net of directly attributable expenses).................................................................................................. 252.82 150.15 Total Other Income ............................................................................................................................................................................................................................ 2,545.17 2,053.75 26. Cost of materials consumed Rupees crores Particulars 2023 2022 Opening inventories.............................................................................................................................................................................................................................. 2,544.76 1,919.70 Acquisitions through business combinations [Refer note 44 (B)]........................................................................................................................ — 47.94 Add: Purchases......................................................................................................................................................................................................................................... 64,150.58 41,306.99 66,695.34 43,274.63 Less: Closing inventories.................................................................................................................................................................................................................... 4,381.05 2,544.76 Less: Reclassified as held for sale.............................................................................................................................................................................................. 88.09 — Total Cost of materials consumed ........................................................................................................................................................................................ 62,226.20 40,729.87