BOARD’S REPORT 89 Dividend Distribution Policy The Dividend Distribution Policy containing the requirements mentioned in Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) is attached as Annexure I and forms part of this Annual Report. The Dividend Distribution Policy of the Company is also uploaded on the Company’s website at the following Weblink: https://www.mahindra.com/investor-relations/policiesand-documents. B. CONSOLIDATED FINANCIAL STATEMENTS The Consolidated Financial Statements of the Company, its subsidiaries, associates and joint ventures prepared in accordance with the Companies Act, 2013 and applicable Indian Accounting Standards along with all relevant documents and the Auditors’ Report form part of this Annual Report. The Consolidated Financial Statements presented by the Company include the financial results of its subsidiaries, associates and joint ventures. The Consolidated Revenue from operations is Rs. 1,38,279 crores in the current year as compared to Rs. 1,21,269 crores in the previous year, registering an increase of 14%. The consolidated profit before exceptional items, share of profit of associates and joint ventures and tax for the year is Rs. 14,856 crores as against Rs. 11,305 crores in the previous year, registering an increase of 31.4%. The consolidated profit after tax after non-controlling interest and exceptional items for the year is Rs. 11,269 crores as against Rs. 10,282 crores in the previous year, registering an increase of 9.6%. The Financial Statements as stated above are also available on the website of the Company and can be accessed at the Web-link: https://www.mahindra.com/resources/FY24/ AnnualReport.zip. Subsidiaries, Joint Ventures and Associate Companies The Mahindra Group entities continue to play a pivotal role in driving the overall revenue growth and performance of your Company. Tech Mahindra Limited, Flagship Company in the IT Sector, reported a consolidated operating revenue of Rs. 51,996 crores in the current year as compared to Rs. 53,290 crores in the previous year, registering a decrease of 2.4%. Its consolidated profit after tax after non-controlling interests is Rs. 2,358 crores as compared to Rs. 4,831 crores in the previous year, registering a decrease of 51.2%. The Group’s finance company, Mahindra & Mahindra Financial Services Limited, a listed subsidiary of the Company (Mahindra Finance), reported a consolidated operating revenue of Rs. 15,797 crores during the current year as compared to Rs. 12,700 crores in the previous year, registering an increase of 24.4%. The consolidated profit after tax after non-controlling interests for the year is Rs. 1,933 crores as compared to Rs. 2,072 crores in the previous year, registering a decrease of 6.7%. Mahindra Lifespace Developers Limited, a listed subsidiary in the business of real estate and infrastructure, reported a consolidated operating revenue of Rs. 212 crores as compared to Rs. 607 crores in the previous year, registering a decrease of 65.1%. The consolidated profit after tax after non‑controlling interest for the year is Rs. 98 crores as compared to Rs. 101 crores in the previous year, registering a decrease of 3%. Mahindra Holidays & Resorts India Limited, a listed subsidiary in the business of timeshare, registered a consolidated operating revenue of Rs. 2,705 crores as compared to Rs. 2,517 crores in the previous year, registering an increase of 7.5%. The consolidated profit after tax after non-controlling interests for the year is Rs. 116 crores as compared to Rs. 115 crores in the previous year, registering an increase of 0.9%. Mahindra Logistics Limited, a listed subsidiary in the logistics business, reported a consolidated operating revenue of Rs. 5,506 crores as compared to Rs. 5,128 crores in the previous year registering an increase of 7.4%. The consolidated loss after tax after non-controlling interests for the year is Rs. 55 crores as compared to a profit of Rs. 26 crores in the previous year, registering a decrease of 311.5%. Swaraj Engines Limited, a listed subsidiary in the business of manufacturing of Diesel Engines and its components, reported operating revenue of Rs. 1,419 crores as compared to Rs. 1,422 crores in the previous year registering a decrease of 0.2%. The profit after tax for the year is Rs. 138 crores as compared to Rs. 134 crores in the previous year, registering an increase of 3%. During the year under review, Mahindra Last Mile Mobility Limited, Illuminate Hybren Private Limited (formerly known as Icarus Hybren Private Limited), Hazel Hybren Private Limited, Gelos Solren Private Limited, Furies Solren Private Limited, Kyros Hybren Private Limited, Jade Hybren Private Limited,
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