MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 384 Consolidated Cash Flow Statement | for the year ended 31st March, 2024 Rupees crores 2024 2023 A. CASH FLOW FROM OPERATING ACTIVITIES: Profit Before Exceptional Items, share of profit of associates and joint ventures and tax.......................................................... 14,856.36 11,305.27 Adjustments for: Depreciation, amortisation and impairment expense.......................................................................................................................................... 4,723.78 4,356.81 (Gain)/loss on foreign exchange fluctuation and other adjustments (net) ........................................................................................ (74.33) 59.62 Loss on fair valuation of compulsorily convertible preference shares ................................................................................................. 43.45 — Income from investments related to subsidiaries, associates and joint ventures ......................................................................... (798.97) (93.41) Loss from investments related to subsidiaries, associates and joint ventures ............................................................................... 32.92 53.87 Dividend on investments and interest income [excluding Rs. 14,587.20 crores (2023: Rs. 12,152.00 crores) in respect of financial services business] ................................................................................................................................................................... (784.77) (515.62) Finance costs [excluding Rs. 6,944.15 crores (2023: Rs. 5,079.63 crores) in respect of financial services business] ...................................................................................................................................................................................................................... 544.06 750.07 Equity-settled share-based payment expenses ..................................................................................................................................................... 128.86 139.75 Gain on financial instruments measured at fair value (net) ......................................................................................................................... (1,069.91) (399.58) (Gain)/Loss on property, plant and equipment sold / scrapped / written off (net) ...................................................................... (60.21) (14.89) 2,684.88 4,336.62 Operating Profit before working capital changes........................................................................................................................................................ 17,541.24 15,641.89 Changes in: Trade and other receivables.................................................................................................................................................................................................. (1,889.81) (2,904.47) Financial services receivable................................................................................................................................................................................................. (19,887.00) (18,797.21) Inventories.......................................................................................................................................................................................................................................... (1,752.64) (5,251.96) Trade and other payables and provisions.................................................................................................................................................................... 4,354.36 7,012.60 (19,175.09) (19,941.04) Cash used in operations ............................................................................................................................................................................................................... (1,633.85) (4,299.15) Income taxes paid (net) ................................................................................................................................................................................................................ (3,996.10) (2,774.87) Net cash flow used in operating activities .............................................................................................................................................................. (5,629.95) (7,074.02) B. CASH FLOW FROM INVESTING ACTIVITIES: Payment to acquire property, plant & equipment and other intangible assets.................................................................................... (9,945.99) (6,304.57) Proceeds from sale of property, plant & equipment and other intangible assets.............................................................................. 273.23 137.78 Payment to acquire investments............................................................................................................................................................................................ (49,926.64) (50,164.56) Proceeds from sale of investments...................................................................................................................................................................................... 50,919.36 46,269.08 Interest received (excluding financial services business)....................................................................................................................................... 703.28 463.67 Dividends received from joint ventures and associates.......................................................................................................................................... 1,200.31 1,391.01 Dividends received from others............................................................................................................................................................................................... 12.38 5.68 Proceeds from buy back of shares/capital reduction by joint venture ...................................................................................................... 27.27 70.93 Bank deposits placed....................................................................................................................................................................................................................... (12,270.39) (12,292.91) Bank deposits matured................................................................................................................................................................................................................... 12,199.41 10,755.17
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