CONSOLIDATED ACCOUNTS 379 Consolidated Balance Sheet | as at 31st March, 2024 Rupees crores Note No. 2024 2023 I. ASSETS NON-CURRENT ASSETS Property, plant and equipment....................................................................................................................................................................................................... 4 21,408.60 20,351.33 Capital work-in-progress...................................................................................................................................................................................................................... 5 3,461.33 1,222.66 Goodwill........................................................................................................................................................................................................................................................... 6 2,448.37 2,548.90 Other intangible assets........................................................................................................................................................................................................................ 7 4,272.44 4,239.75 Intangible assets under development........................................................................................................................................................................................ 8 4,577.97 2,745.92 Investments accounted using equity method...................................................................................................................................................................... 9 13,800.71 14,380.57 Financial assets (i) Investments................................................................................................................................................................................................................................... 9 7,772.75 6,625.93 (ii) Trade receivables....................................................................................................................................................................................................................... 10 270.66 282.60 (iii) Loans.................................................................................................................................................................................................................................................. 11 67,783.65 52,772.75 (iv) Other financial assets............................................................................................................................................................................................................ 12 4,297.97 3,353.97 Deferred tax assets (net).................................................................................................................................................................................................................... 13 1,578.99 1,615.46 Income tax assets (net)....................................................................................................................................................................................................................... 2,129.91 1,802.88 Other non-current assets................................................................................................................................................................................................................... 14 4,231.74 2,623.61 1,38,035.09 1,14,566.33 CURRENT ASSETS Inventories..................................................................................................................................................................................................................................................... 15 18,590.47 16,854.97 Financial assets (i) Investments................................................................................................................................................................................................................................... 9 13,634.64 14,265.92 (ii) Trade receivables....................................................................................................................................................................................................................... 10 7,459.40 7,028.02 (iii) Cash and cash equivalents................................................................................................................................................................................................. 16 4,530.10 3,493.41 (iv) Bank balances other than cash and cash equivalents................................................................................................................................... 17 7,482.65 7,780.02 (v) Loans.................................................................................................................................................................................................................................................. 11 39,060.13 34,684.81 (vi) Other financial assets............................................................................................................................................................................................................ 12 2,102.43 1,951.70 Other current assets.............................................................................................................................................................................................................................. 14 5,380.35 5,209.99 Assets held for sale................................................................................................................................................................................................................................ 25.47 56.60 98,265.64 91,325.44 TOTAL ASSETS......................................................................................................................................................................................................................................... 2,36,300.73 2,05,891.77 II. EQUITY AND LIABILITIES EQUITY Equity share capital................................................................................................................................................................................................................................ 18 557.38 556.82 Other equity................................................................................................................................................................................................................................................. 65,633.17 55,808.97 Equity attributable to owners of the company.................................................................................................................................................................. 66,190.55 56,365.79 Non-controlling interests..................................................................................................................................................................................................................... 11,318.79 10,716.32 77,509.34 67,082.11 LIABILITIES NON-CURRENT LIABILITIES Financial liabilities (i) Borrowings..................................................................................................................................................................................................................................... 20 67,719.69 55,027.39 (ii) Compulsorily convertible preference shares.......................................................................................................................................................... 42 2,021.73 400.00 (iii) Lease liabilities .......................................................................................................................................................................................................................... 2,813.92 2,882.50 (iv) Trade payables ........................................................................................................................................................................................................................... Total outstanding dues of creditors other than micro enterprises and small enterprises........................................................... 21 — 0.04 (v) Other financial liabilities....................................................................................................................................................................................................... 22 1,208.50 970.45 Provisions....................................................................................................................................................................................................................................................... 23 1,763.28 1,815.95 Deferred tax liabilities (net).............................................................................................................................................................................................................. 13 1,772.13 1,608.64 Other non-current liabilities.............................................................................................................................................................................................................. 24 5,946.49 5,525.28 83,245.74 68,230.25 CURRENT LIABILITIES Financial liabilities (i) Borrowings..................................................................................................................................................................................................................................... 20 35,483.54 33,739.62 (ii) Lease liabilities............................................................................................................................................................................................................................ 608.37 597.34 (iii) Trade payables ........................................................................................................................................................................................................................... 21 (a) Total outstanding dues of micro enterprises and small enterprises.................................................................................... 459.70 363.63 (b) Total outstanding dues of creditors other than micro enterprises and small enterprises................................... 25,205.94 23,472.03 (iv) Other financial liabilities....................................................................................................................................................................................................... 22 4,480.96 4,424.94 Other current liabilities........................................................................................................................................................................................................................ 24 7,641.62 6,176.38 Provisions....................................................................................................................................................................................................................................................... 23 1,123.00 1,189.48 Current tax liabilities (net)................................................................................................................................................................................................................. 542.52 615.99 75,545.65 70,579.41 TOTAL EQUITY AND LIABILITIES............................................................................................................................................................................................... 2,36,300.73 2,05,891.77 The accompanying notes 1 to 51 are an integral part of the Consolidated Financial Statements Directors: Vikram Singh Mehta T. N. Manoharan Haigreve Khaitan Shikha Sharma Nisaba Godrej Muthiah Murugappan (DIN - 00041197) (DIN - 01186248) (DIN - 00005290) (DIN - 00043265) (DIN - 00591503) (DIN - 07858587) In terms of our report attached. For B S R & Co. LLP Chartered Accountants Firm’s Registration No. : 101248W/W-100022 Venkataramanan Vishwanath Partner Membership No. : 113156 Bengaluru, 16th May, 2024 Anand G. Mahindra Chairman (DIN - 00004695) Anish Shah Managing Director and CEO (DIN - 02719429) Rajesh Jejurikar Executive Director and CEO (Auto and Farm Sector) (DIN - 00046823) Manoj Bhat Group Chief Financial Officer Narayan Shankar Company Secretary (ACS No. 8666) Mumbai, 16th May, 2024 For Mahindra & Mahindra Limited
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