MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 404 12. Other financial assets Rupees crores Particulars Non Current Current 2024 2023 2024 2023 Measured at amortised cost Bank deposits......................................................................................................................................................... 2,363.99 1,988.32 — — Balances with banks on margin accounts......................................................................................... 1.85 13.20 — — Security deposit .................................................................................................................................................. 279.81 246.77 71.86 66.87 Interest accrued on investment, other loans and other financial assets.................... 31.79 9.74 527.11 436.03 Government grant receivable..................................................................................................................... 1,438.77 1,044.09 815.62 442.42 Corporate Fixed Deposit................................................................................................................................. 150.00 — — — Others.......................................................................................................................................................................... 17.07 23.65 667.91 985.45 Measured at fair value Foreign currency forwards and options, interest rate swaps & commodity derivatives ............................................................................................................................................................. — — 19.93 20.93 Derivatives on interest over subsidiaries and joint ventures............................................... 14.69 28.20 — — Total............................................................................................................................................................................. 4,297.97 3,353.97 2,102.43 1,951.70 Others mainly includes receivables for oil royalty income, scrap sales and other recoverable expenses. 13. Income taxes (a) Income tax recognised in profit or loss Rupees crores Particulars 2024 2023 Current Tax In respect of current year.................................................................................................................................................................................................... 3,668.88 3,022.74 In respect of prior years........................................................................................................................................................................................................ (30.30) (217.25) Unrecognised tax losses of previous year used to reduce current tax expense ....................................................................... (41.19) (63.45) Total current tax expense/ (income)..................................................................................................................................................................... 3,597.39 2,742.04 Deferred Tax In respect of current year origination and reversal of temporary differences.............................................................................. 129.09 (68.61) Effect of utilisation/(recognition) of deferred tax on capital losses...................................................................................................... 70.60 (41.70) Write down/reversal of deferred tax assets/ liabilities .................................................................................................................................. (20.86) — In respect of prior years........................................................................................................................................................................................................ (68.25) 54.02 Total deferred tax expense/(income) .................................................................................................................................................................. 110.58 (56.29) Total income tax expense/(income) ...................................................................................................................................................................... 3,707.97 2,685.75
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