MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 168 Raw materials and bought out components as a % of cost of materials consumed Finished goods and Stock-in-trade as a % of sales of products 4.8% 5.3% F24 7.0% 4.4% F23 INVENTORIES Raw materials and bought out components as a percentage of cost of materials consumed has decreased mainly on account of build-up of inventory last year due to BS6.2 Transition, Shortage of critical components, which has been brought under control during the year with various initiatives taken by the management. However, finished goods and stock-in-trade as a percentage of sales of products has increased mainly due to build up of inventory for on account of new product launches and for the upcoming seasons. TRADE RECEIVABLE st st Trade Receivables are Rs. 4,549 crores as at 31 March, 2024, as compared to Rs. 4,042 crores as at 31 March, 2023. As a percentage of revenue st from sales of products and services, trade receivables are lower at 4.7% as at 31 March, 2024, as compared to 4.9% for the previous year mainly on account of better collection efforts and higher volume. Particulars 94,972 1,923 1,868 2,456 1,01,219 1,938 82,032 1,219 1,709 1,684 86,644 924 93.8 1.9 1.9 2.4 100.0 1.9 94.7 1.4 2.0 1.9 100.0 1.1 15.8 57.8 9.3 45.8 16.8 109.9 F24 Amount Amount % to Income from Operations % to Income from Operations % Increase F23 Sales of products Sale of services Other operating revenue Income from investment related to subsidiaries, associates, and joint ventures Income from operations Other income (Rs. crores) RESULTS OF OPERATIONS INCOME INCOME FROM OPERATIONS The net sales and income from operations of the Company increased by 16.8% as compared to the previous year mainly driven by performance of the Auto business. Sales volume in Auto segment witnessed an increase of 11.7% clocking 7,80,475 vehicles in the current year from 6,98,456 vehicles in the previous year. Increase in volumes combined with higher realisation and increase in investment related income from subsidiaries, associates, and joint ventures led to Income from operations growing by 16.8% as compared to the previous year. st Other income during the year ended 31 March, 2024 at Rs. 1,938 crores is higher than Rs. 924 crores earned in the previous year mainly on account of higher fair value gain on certain non-current investment in the current year.
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