MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 364 Particulars 2024 2023 Net Capital Turnover (times) (Revenue from operations) / [Average working capital (Current assets less Current liabilities) for the period]............................................................................................................................................................................................................................ 11.14 10.72 Net Profit margin (%) (Net Profit for the period / Revenue from operations).............................................................................................................. 10.59% 7.56% Return on Capital Employed (%) (Profit before interest and tax / (Average Total Equity + Average Total Debt for the period)...................... 26.75% 18.13% Return on Investment (%) (Income earned on investments / Average Investment for the period)......................................................................... 7.45% 5.75% Explanatory notes: (i) Cost of materials consumed for the purpose of Inventory turnover ratio includes Purchases of stock-in-trade and Changes in inventories of finished goods, stock-in-trade and work-in-progress. (ii) Investments includes current and non-current investments including Fixed deposits, Mutual funds, Corporate deposits, Inter corporate deposits excluding investments in Equity instruments. Explanation for change in the ratios by more than 25%: (i) 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. (ii) Debt Service Coverage Ratio (times): The debt service coverage ratio is at 47.87 in current year as against 4.69 in previous year primarily due to repayment of borrowings during the year. (iii) Return on Equity (%): Ratio has improved on account of increase in profit after tax in current year. (iv) Net profit margin (%): Ratio has improved on account of increase in profit for the year. (v) Return on Capital Employed (%): Ratio has improved on account of increase in profit after tax in current year and repayment of borrowing (vi) Return on Investment (%): The return on investment is at 7.45% in current year as against 5.75% in previous year due to higher mark to market gain on invested surplus and higher yields on investments during the year. b. Quarterly returns / statements filed by the Company with banks are in agreement with the books of accounts. c. Transaction with Struck off Companies: Rupees crores Name of the Struck off Company Receivables Payables Other Outstanding Balances - Assets Other Outstanding Balances - Liabilities Number of Shares held by Struck off Companies Argus Media Private Limited — * — — — Asmita Fire Safety Private Limited * — — — — Babace Pneumatics Private Limited — * — — — Badri Sarraf Fin & Mutual Benefit Co Limited — — — — 796 BKG Securities Private Limited — — — — 32 C Cube Sports Private Limited — 0.01 — — — Dimensions Engineering Technologies Private Limited — 0.01 — — — Dreams Comtrade Private Limited — — — — 2 Elegant Finvest Private Limited — — — — 4 Enffluence Technologies Private Limited — 0.02 — — — Frontline Corporate Finance Limited — — — — 1,944 Garlick Designing & Cons Private Limited — — — — 264 49. Additional regulatory information: (contd.) a. Ratios: (contd.)
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