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

318 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 Consolidated Cash Flow Statement | for the year ended 31 st March, 2023 Rupees crores 2023 2022 A. CASH FLOW FROM OPERATING ACTIVITIES: Profit Before Exceptional Items, share of profit of associates and joint ventures and tax.......................................................... 11,305.27 7,091.81 Adjustments for: Depreciation, amortisation and impairment expense.......................................................................................................................................... 4,356.81 3,507.50 Loss/(gain) on foreign exchange fluctuation and other adjustments (net)......................................................................................... 59.62 (65.31) Gain due to change in lease arrangements............................................................................................................................................................... — (15.07) Dividend on investments and interest income [excluding Rs. 12,152.00 crores (2022: Rs. 10,923.82 crores) in respect of financial services business]..................................................................................................................................................................... (528.01) (418.38) Interest, commitment and finance charges [excluding Rs. 5,079.63 crores (2022: Rs. 4,392.60 crores) in respect of financial services business]........................................................................................................................................................................... 750.07 625.45 Equity-settled share-based payment expenses....................................................................................................................................................... 139.75 105.25 Net gain on financial instruments measured at fair value.............................................................................................................................. (426.73) (355.65) (Gain)/Loss on property, plant and equipment sold /scrapped /written off (net)............................................................................ (14.89) 39.11 4,336.62 3,422.90 Operating Profit before working capital changes........................................................................................................................................................ 15,641.89 10,514.71 Changes in: Trade and other receivables.................................................................................................................................................................................................. (2,904.47) (2,044.51) Financial services receivable................................................................................................................................................................................................. (18,797.21) (461.61) Inventories.......................................................................................................................................................................................................................................... (5,251.96) (2,172.99) Trade and other payables and provisions.................................................................................................................................................................... 7,012.60 4,972.37 (19,941.04) 293.26 Cash (used in)/generated from operations....................................................................................................................................................................... (4,299.15) 10,807.97 Income taxes paid (net of refunds and interest on refunds).............................................................................................................................. (2,774.87) (1,560.42) Net cash (used in)/from operating activities ........................................................................................................................................................... (7,074.02) 9,247.55 B. CASH FLOW FROM INVESTING ACTIVITIES: Payment to acquire property, plant & equipment and other intangible assets.................................................................................... (6,304.57) (6,039.80) Proceeds from sale of property, plant & equipment and other intangible assets.............................................................................. 137.78 119.94 Payment to acquire investments............................................................................................................................................................................................ (50,164.56) (65,421.47) Proceeds from sale of investments...................................................................................................................................................................................... 46,269.08 65,127.25 Interest received (excluding financial services business)....................................................................................................................................... 463.67 419.57 Dividends received from joint ventures and associates.......................................................................................................................................... 1,391.01 1,245.78 Proceeds from capital reduction/buy-back of shares by joint venture........................................................................................................ 70.93 55.05 Dividends received from others............................................................................................................................................................................................... 5.68 1.25 Bank deposits placed....................................................................................................................................................................................................................... (12,292.91) (7,468.23) Bank deposits matured................................................................................................................................................................................................................... 10,755.17 8,813.19 Net change in earmarked and margin accounts with banks............................................................................................................................... 70.89 175.39 Receivables /Inter corporate deposits placed................................................................................................................................................................ (987.00) (818.28)