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

314 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 Consolidated Statement of Profit and Loss | for the year ended 31 st March, 2023 Rupees crores Note 2023 2022 INCOME Revenue from operations.................................................................................................................................................................................................................................. 24 1,21,268.55 90,170.57 Other income.............................................................................................................................................................................................................................................................. 25 1,206.49 934.51 Total Income ............................................................................................................................................................................................................................................................. 1,22,475.04 91,105.08 EXPENSES Cost of materials consumed .......................................................................................................................................................................................................................... 26 68,477.97 46,265.48 Purchases of stock-in-trade ............................................................................................................................................................................................................................ 7,541.90 6,399.37 Changes in inventories of finished goods, stock-in-trade and work-in-progress......................................................................................................... 27 (2,032.31) (861.66) Employee benefits expense.............................................................................................................................................................................................................................. 28 9,677.95 8,386.74 Finance costs ............................................................................................................................................................................................................................................................ 29 5,829.70 5,018.05 Depreciation, amortisation and impairment expense ................................................................................................................................................................... 30 4,356.81 3,507.50 Other expenses ....................................................................................................................................................................................................................................................... 31 17,317.75 15,297.79 Total Expenses ...................................................................................................................................................................................................................................................... 1,11,169.77 84,013.27 Profit Before Exceptional Items, share of profit of associates and joint ventures and tax ............................................................. 11,305.27 7,091.81 Exceptional items (net)........................................................................................................................................................................................................................................ 32 1,249.52 414.17 Share of profit of associates and joint ventures (net).................................................................................................................................................................. 1,505.44 1,855.79 Profit Before Tax ................................................................................................................................................................................................................................................ 14,060.23 9,361.77 Tax Expense 13 Current tax ................................................................................................................................................................................................................................................................. (2,742.04) (1,868.10) Deferred tax .............................................................................................................................................................................................................................................................. 56.29 (240.66) Profit for the year ............................................................................................................................................................................................................................................. 11,374.48 7,253.01 Other Comprehensive Income/(Loss) A. (i) Items that will not be reclassified to profit or loss (a) Remeasurements of the defined benefit plans ....................................................................................................................................... (154.55) 141.12 (b) Equity instruments through other comprehensive income ............................................................................................................ (45.11) (75.83) (c) Share of other comprehensive income/(loss) of equity accounted investees.................................................................... 11.84 9.97 (ii) Income tax relating to items that will not be reclassified to profit or loss...................................................................................... 35.53 (36.22) B. (i) Items that will be reclassified to profit or loss (a) Exchange differences in translating the financial statements of foreign operations .................................................. (129.76) (287.33) (b) Debt instruments through other comprehensive income ................................................................................................................ (92.64) (1.18) (c) Effective portion of gains/(losses) on designated portion of hedging instruments in a cash flow hedge............... (5.50) 14.82 (d) Share of other comprehensive income/(loss) of equity accounted investees ................................................................... 186.04 136.25 (ii) Income tax relating to items that will be reclassified to profit or loss .............................................................................................. 7.16 (13.07) Total Other Comprehensive Income/(Loss) .................................................................................................................................................................................... (186.99) (111.47) Total Comprehensive Income/(Loss) for the year .................................................................................................................................................................... 11,187.49 7,141.54 Profit /(Loss) for the year attributable to: Owners of the company ................................................................................................................................................................................................................................... 10,281.50 6,577.32 Non-controlling interests .................................................................................................................................................................................................................................. 1,092.98 675.69 11,374.48 7,253.01 Other Comprehensive Income/(Loss) for the year attributable to: Owners of the company ................................................................................................................................................................................................................................... (170.03) (94.79) Non-controlling interests .................................................................................................................................................................................................................................. (16.96) (16.68) (186.99) (111.47) Total Comprehensive Income/(Loss) for the year attributable to: Owners of the company ................................................................................................................................................................................................................................... 10,111.47 6,482.53 Non-controlling interests .................................................................................................................................................................................................................................. 1,076.02 659.01 11,187.49 7,141.54 Earnings per equity share 33 (Face value Rs. 5/- per share) (Rupees) Basic ................................................................................................................................................................................................................................................................................ 92.41 59.20 Diluted ............................................................................................................................................................................................................................................................................ 91.96 58.83 The accompanying notes 1 to 49 are an integral part of the Consolidated Financial Statements Directors: Vikram Singh Mehta Vishakha N. Desai T. N. Manoharan Haigreve Khaitan Shikha Sharma Nisaba Godrej Muthiah Murugappan Vijay Kumar Sharma CP Gurnani (DIN - 00041197) (DIN - 05292671) (DIN - 01186248) (DIN - 00005290) (DIN - 00043265) (DIN - 00591503) (DIN - 07858587) (DIN - 02449088) (DIN - 00018234) In terms of our report attached. For B S R & Co. LLP Chartered Accountants Firm’s Registration No : 101248W/W-100022 Venkataramanan Vishwanath Partner Membership No : 113156 Mumbai, 26 th May, 2023 Anand G. Mahindra Chairman (DIN - 00004695) Anish Shah Managing Director and CEO (DIN - 02719429) Rajesh Jejurikar Executive Director and CEO (Auto and Farm Sector) (DIN - 00046823) Manoj Bhat Group Chief Financial Officer Narayan Shankar Company Secretary (ACS No. 8666) Mumbai, 26 th May, 2023 For Mahindra & Mahindra Limited