CONSOLIDATED ACCOUNTS 449 Name of the Entity Place of Incorporation and Place of Operation Proportion of ownership interest* As at 31st March, 2024 2023 PSL Media & Communications Limited............................................................................................................................................... India 40.00% 40.00% The East India Company Group Limited BVI #.............................................................................................................................. Singapore 18.62% 18.62% Medwell Ventures Private Limited (upto 19th April, 2023).................................................................................................. India — 31.45% Blue Planet Integrated Waste Solutions Limited (formerly known as Mahindra Waste To Energy Solutions Limited) (w.e.f 28th December, 2023) ^^.................................................................................................................... India 20.00% — The financial statements of the Associates are drawn upto 31st March, 2024 other than for CIE Automotive S.A. & The East India Company Group Limited BVI where it is upto 31st December, 2023. * excluding shares issued to ESOP Trusts of the respective entities / their holding companies but not allotted to employees. # Entities have been treated as Associate even though the Group holds less than 20% of the voting power in these entities as it has influence over the entity due to the board representation. ^ During the year ended March 2024, the Controlling status was changed from associate to subsidiary. ^^ During the year ended March 2024, the Controlling status was changed from subsidiary to associate. All of the above associates/joint ventures are accounted for using the equity method in consolidated financial statements. Summarised financial information in respect of the Group’s material associate is set out below: Rupees crores Particulars Tech Mahindra Limited - Consolidated 2024 2023 Current assets Cash and cash equivalents................................................................................................................................................................................................................ 4,347.10 4,056.30 Other assets................................................................................................................................................................................................................................................. 19,078.20 20,376.40 Total current assets................................................................................................................................................................................................................................ 23,425.30 24,432.70 Total Non-current assets..................................................................................................................................................................................................................... 19,998.30 21,720.56 Current liabilities Financial liabilities..................................................................................................................................................................................................................................... 7,942.90 9,167.40 Other Liabilities.......................................................................................................................................................................................................................................... 5,904.10 5,384.00 Total current liabilities.......................................................................................................................................................................................................................... 13,847.00 14,551.40 Total Non-current liabilities............................................................................................................................................................................................................... 2,429.80 3,207.20 Non-controlling interest....................................................................................................................................................................................................................... 477.40 470.20 Revenue from Operations................................................................................................................................................................................................................... 51,995.46 53,290.19 Interest Income.......................................................................................................................................................................................................................................... 154.00 105.00 Depreciation and amortisation........................................................................................................................................................................................................ 1,817.10 1,956.70 Impairment of Goodwill and non-current assets............................................................................................................................................................... 458.20 237.03 Interest Cost................................................................................................................................................................................................................................................. 392.20 325.60 44. Investment in Joint Arrangements and Associates (Continued)
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