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

59 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS B. CONSOLIDATED FINANCIAL STATEMENTS The Consolidated Financial Statements of the Company, its subsidiaries, associates and joint ventures prepared in accordance with the Companies Act, 2013 and applicable Indian Accounting Standards along with all relevant documents and the Auditors’ Report form part of this Annual Report. The Consolidated Financial Statements presented by the Company include the nancial results of its subsidiary companies, associates and joint ventures. The Consolidated Revenue from operations is Rs. 1,21,269 crores in the current year as compared to Rs. 90,171 crores in the previous year, registering an increase of 34.5%. The consolidated pro t before exceptional items, share of profit of associates and joint ventures and tax for the year is Rs. 11,305 crores as against Rs. 7,092 crores in the previous year, registering an increase of 59.4%. The consolidated pro t after tax after non-controlling interest and exceptional items for the year is Rs. 10,282 crores as against Rs. 6,577 crores in the previous year, registering an increase of 56.3%. The Financial Statements as stated above are also available on the website of the Company and can be accessed at the Web-link: https://www.mahindra.com/resources/FY23/ AnnualReport.zip . Subsidiary, Joint Venture and Associate Companies The Mahindra Group Companies continue to contribute to the overall growth in revenues and overall performance of your Company. Tech Mahindra Limited, Flagship Company in the IT Sector, reported a consolidated operating revenue of Rs. 53,290 crores in the current year as compared to Rs. 44,646 crores in the previous year, registering an increase of 19.4%. Its consolidated profit after tax after non-controlling interests is Rs. 4,831 crores as compared to Rs. 5,566 crores in the previous year, registering a decrease of 13.2%. The Group’s finance company, Mahindra & Mahindra Financial Services Limited, a listed subsidiary of the Company (Mahindra Finance), reported a consolidated operating revenue of Rs. 12,700 crores during the current year as compared to Rs. 11,318 crores in the previous year, registering an increase of 12.2%. The consolidated profit after tax after non-controlling interests for the year is Rs. 2,072 crores as compared to Rs. 1,137 crores in the previous year, registering an increase of 82.2%. Mahindra Lifespace Developers Limited, the listed subsidiary in the business of real estate and infrastructure, reported a consolidated operating revenue of Rs. 607 crores as compared to Rs. 394 crores in the previous year, registering an increase of 54.1%. The consolidated profit after tax after non-controlling interest for the year is Rs. 101 crores as compared to Rs. 154 crores in the previous year, registering a decrease of 34.4%. Mahindra Holidays & Resorts India Limited, the listed subsidiary in the business of timeshare, registered a consolidated operating revenue of Rs. 2,517 crores as compared to Rs. 2,013 crores in the previous year, registering an increase of 25%. The consolidated profit after tax after non-controlling interests for the year is Rs. 115 crores as compared to Rs. 68 crores in the previous year, registering an increase of 69.1%. Mahindra Logistics Limited, a listed subsidiary in the logistics business, reported a consolidated operating revenue of Rs. 5,128 crores as compared to Rs. 4,141 crores in the previous year registering an increase of 23.8%. The consolidated profit after tax after non-controlling interests for the year is Rs. 26 crores as compared to Rs. 18 crores in the previous year, registering an increase of 44.4%. Swaraj Engines Limited*, a listed subsidiary in the business of manufacture of Diesel Engines and its components, reported operating revenue of Rs. 1,422 crores as compared to Rs. 1,138 crores in the previous year registering an increase of 25%. The profit after tax for the year is Rs. 134 crores as compared to Rs. 109 crores in the previous year, registering an increase of 22.9%. * During the year ended 31 st March, 2023, the Controlling status was changed from associate to subsidiary . During the year under review, Mahindra Holidays & Resorts Harihareshwar Limited, Resurgence Solarize Urja Private Limited, V-Link Freight Services Private Limited, Swaraj Engines Limited, Mahindra Electric Automobile Limited, Emergent Solren Private Limited, Guestline Hospitality Management and Developement Services Limited, MLL Global Logistics Limited and M.I.T.R.A Agro Equipments Private Limited became subsidiaries of your Company. Further, MLL Mobility Private Limited (Formerly known as Meru Mobility Tech Private Limited) (“MLL Mobility”), V-Link Fleet Solutions Private Limited (“VFSPL”) and V-Link Automotive Services Private Limited (“VASPL”) have ceased to be wholly owned subsidiaries of MLL Express Services Private Limited (Formerly known as Meru Travel Solutions Private Limited) (“MLL Express”), a wholly owned subsidiary of your Company