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

385 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 40. Investment in Joint Arrangements and Associates (contd.) Summarised financial information in respect of the Group’s material associate is set out below Rupees crores Particulars Tech Mahindra Limited - Consolidated 2023 2022 Current assets Cash and cash equivalents.................................................................................................................................................................................................................................. 4,056.30 3,788.90 Other assets................................................................................................................................................................................................................................................................... 20,376.40 20,666.76 Total current assets.................................................................................................................................................................................................................................................. 24,432.70 24,455.66 Total Non-current assets....................................................................................................................................................................................................................................... 21,720.56 20,415.09 Current liabilities Financial liabilities....................................................................................................................................................................................................................................................... 9,167.40 8,875.54 Other Liabilities............................................................................................................................................................................................................................................................ 5,384.00 4,859.70 Total current liabilities............................................................................................................................................................................................................................................ 14,551.40 13,735.24 Total Non-current liabilities................................................................................................................................................................................................................................. 3,207.20 3,754.40 Non-controlling interest......................................................................................................................................................................................................................................... 470.20 495.40 Revenue from Operations..................................................................................................................................................................................................................................... 53,290.19 44,645.98 Interest Income............................................................................................................................................................................................................................................................ 105.00 90.40 Depreciation and amortisation.......................................................................................................................................................................................................................... 1,956.70 1,520.40 Impairment of Goodwill and non-current assets................................................................................................................................................................................. 237.03 — Interest Cost................................................................................................................................................................................................................................................................... 325.60 162.60 Income tax expense.................................................................................................................................................................................................................................................. 1,588.50 1,822.00 Profit /(Loss) for the year.................................................................................................................................................................................................................................... 4,856.96 5,630.08 Other Comprehensive Income/(Loss) for the year.............................................................................................................................................................................. 314.80 231.20 Total Other Comprehensive Income for the year................................................................................................................................................................................ 5,171.76 5,861.28 Tech Mahindra Limited’s Principal Activity - Information Technology (IT) and IT Enabled Services Reconciliation of the above summarised financial information to the carrying amount of the interest in the associate recognised in the consolidated financial statements: Rupees crores Particulars Tech Mahindra Limited - Consolidated 2023 2022 Closing Net assets.................................................................................................................................................................................................................................................... 27,924.46 26,885.71 Group’s share in %.................................................................................................................................................................................................................................................... 28.21% 28.28% Group’s share (Rs)..................................................................................................................................................................................................................................................... 7,877.49 7,603.28 Goodwill............................................................................................................................................................................................................................................................................ 540.45 540.83 Carrying amount........................................................................................................................................................................................................................................................ 8,417.94 8,144.11 Market Value................................................................................................................................................................................................................................................................. 27,350.21 37,219.47