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

364 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 Reconciliation of loss allowance for Trade Receivables: Other than related to hospitality segment Rupees crores Particulars 2023 2022 Balance as at beginning of the year ........................................................................................................................................................ 398.87 405.43 Additions during the year....................................................................................................................................................................................... 92.63 74.32 Amounts written off during the year............................................................................................................................................................. (68.63) (30.46) Impairment losses reversed/written back................................................................................................................................................... (42.23) (40.73) Foreign exchange translation difference...................................................................................................................................................... (1.79) (4.01) On account of deconsolidation/disposal of subsidiaries.................................................................................................................. (31.19) (5.68) Balance as at end of the year ....................................................................................................................................................................... 347.66 398.87 Related to hospitality segment Rupees crores Particulars 2023 2022 Balance as at beginning of the year ........................................................................................................................................................ 10.58 9.01 Additions during the year....................................................................................................................................................................................... 1.07 1.57 Amounts written off during the year............................................................................................................................................................. (0.22) — Balance as at end of the year ....................................................................................................................................................................... 11.43 10.58 In respect of other financial assets, the maximum exposure to credit risk at the end of the reporting period is the carrying amount of each class of financial assets. (iii) Credit risk related to financial services business Financial services business has a comprehensive framework for monitoring credit quality of its Retail and other loans based on days past due monitoring. Repayment by individual customers and portfolio is tracked regularly and required steps for recovery is taken through follow ups and legal recourse. The following tables set out information about credit quality of loan assets measured at amortised cost: Retail Loans Rupees crores Particulars 2023 2022 Gross carrying value of Retail and SME loan assets Neither Past due nor impaired............................................................................................................................................................................ 71,776.28 49,172.63 Past due but not impaired 30 days past due............................................................................................................................................................................................. 5,294.47 4,727.01 31-90 days past due..................................................................................................................................................................................... 5,999.23 11,243.51 Impaired (more than 90 days)............................................................................................................................................................................. 4,493.92 5,788.62 Total Gross carrying value as at reporting date .......................................................................................................................... 87,563.90 70,931.77 Trade Advances Rupees crores Particulars 2023 2022 Gross carrying amount of trade advances Less than 60 days past due................................................................................................................................................................................. 2,480.06 1,682.21 61-90 days past due................................................................................................................................................................................................. 53.43 64.55 Impaired (more than 90 days)............................................................................................................................................................................ 6.93 60.66 Total Gross carrying value as at reporting date ......................................................................................................................... 2,540.42 1,807.42 36. Financial Instruments (contd.) (b) Credit Risk Management (contd.)