MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 314 4. Property, Plant and Equipment (contd.) (b) Right-of-use assets Rupees crores Particulars Land Buildings Vehicles Others (refer note a) Total Cost Balance as at 1st April, 2022..................................................................... 548.24 78.59 212.35 38.61 877.79 Additions during the year ................................................................................ 100.26 44.96 138.88 39.53 323.63 Deductions during the year ............................................................................ — (7.56) (8.10) — (15.66) Balance as at 31st March, 2023............................................................... 648.50 115.99 343.13 78.14 1,185.76 Balance as at 1st April, 2023 ................................................................... 648.50 115.99 343.13 78.14 1,185.76 Additions during the year ................................................................................ 0.24 37.52 174.93 3.64 216.33 Deductions during the year ............................................................................ (1.17) (35.27) (49.55) (2.96) (88.95) Balance as at 31st March, 2024............................................................... 647.57 118.24 468.51 78.82 1,313.14 Accumulated depreciation and impairment Balance as at 1st April, 2022..................................................................... 17.41 45.29 59.04 2.51 124.25 Depreciation expense for the year ........................................................... 8.37 26.99 61.54 8.43 105.33 Deductions during the year ............................................................................ — (7.33) (4.84) (0.04) (12.21) Impairment losses during the year # ...................................................... — — 4.96 — 4.96 Balance as at 31st March, 2023............................................................... 25.78 64.95 120.70 10.90 222.33 Balance as at 1st April, 2023 ................................................................... 25.78 64.95 120.70 10.90 222.33 Depreciation expense for the year ........................................................... 9.71 28.42 92.88 10.99 142.00 Deductions during the year.............................................................................. (0.90) (23.99) (33.37) (0.30) (58.56) Balance as at 31st March, 2024............................................................... 34.59 69.38 180.21 21.59 305.77 Net carrying amount Net carrying amount as at 31st March, 2023 ................................... 622.72 51.04 222.43 67.24 963.43 Net carrying amount as at 31st March, 2024 ............................ 612.98 48.86 288.30 57.23 1,007.37 Notes: a) Others include Plant & Equipment and Furniture & Fixtures. # In the previous year ended 31st March, 2023, impairment losses have been recognised in the Statement of Profit and Loss as part of ‘Exceptional items (net)’. 5. Capital-work-in progress (CWIP) Rupees crores Particulars 2024 2023 Balance at the beginning of the year ............................................................................................................................................................................... 950.27 1,624.27 Additions during the year ................................................................................................................................................................................................................ 3,390.68 2,308.19 Interest capitalisation .......................................................................................................................................................................................................................... 49.63 39.49 Transfer to property, plant and equipment ......................................................................................................................................................................... (2,543.44) (2,952.78) Deletions during the year ................................................................................................................................................................................................................ (1.14) (0.19) Reclassified as held for sale .......................................................................................................................................................................................................... — (11.33) Impairment losses during the year # ...................................................................................................................................................................................... — (57.38) Balance at the end of the year .............................................................................................................................................................................................. 1,846.00 950.27 # In the previous year ended 31st March, 2023, impairment losses have been recognised in the Statement of Profit and Loss as part of ‘Exceptional items (net)’.
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