MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 170 Debtors Turnover (times) Inventory Turnover (times) Interest Coverage Ratio (times) Current Ratio (times) Debt Equity Ratio (times) Operating Profit Margin (%) Net Profit Margin (%) Return on Net Worth (%) Particulars 22.6 8.1 66.6 1.4 0.03 14.9% 10.6% 22.4% 23.5 8.7 28.5 1.3 0.11 13.9% 7.6% 16.1% 2023 2024 M&M The key financial ratios of the Company are given as below: Explanation for variation of 25% or more in Key Financial Ratio: Interest Coverage Ratio: The interest coverage ratio is healthier at 66.6 times in FY 2023-24 as against 28.5 times in the previous year primarily due to decrease in finance cost resulting from repayment of borrowings during the year. Debt Equity Ratio (times): The debt equity ratio is at 0.03 in current year as against 0.11 in previous year primarily due to repayment of borrowings during the year. Net profit margin (%): Ratio has improved on account of increase in profit for the year. Return on Net Worth (%): Ratio has improved on account of increase in profit after tax in current year. CONSOLIDATED FINANCIAL POSITION OF THE M&M GROUP st As on 31 March, 2024, for the purpose of consolidation as per Indian Accounting Standards (Ind AS), the Group comprised of the flagship holding company Mahindra & Mahindra Limited, 129 Subsidiaries, 22 Joint Ventures and 29 Associates. The Consolidated Income from operations is Rs. 1,39,078 crores in the current year as compared to Rs. 1,21,362 crores in the previous year, registering an increase of 14.6%. The Consolidated Profit before exceptional items, share of profit of associates and joint ventures and tax for the current year is Rs. 14,856 crores as compared to Rs. 11,305 crores in the previous year, registering an increase of 31.4%. The consolidated profit after tax after non-controlling interest and exceptional items for the year is Rs. 11,269 crores as compared to Rs. 10,282 crores in the previous year, registering an increase of 9.6%. Tech Mahindra Limited, Flagship Company in the IT Sector, reported a consolidated operating revenue of Rs. 51,996 crores in the current year as compared to Rs. 53,290 crores in the previous year, registering a decrease of 2.4%. Its consolidated profit after tax after non-controlling interests is Rs. 2,358 crores as compared to Rs. 4,831 crores in the previous year, registering a decrease of 51.2%. With a new leadership team, Tech Mahindra has embarked on a multi year transformation. The overarching goal is to achieve leadership in the segments it operates in with well defined growth and operational strategy. The positive long-term growth outlook for the technology sector, driven by digital transformation, increasing adoption of newage technologies, and expanding global markets, supports Tech Mahindra's strategic focus.
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