Integrated Annual Report 2024-25 432 45. Segment information Operating Segments The Company is both an operating company, primarily having operations in the Automotive and Farm Equipment segments and a holding company with a portfolio of investments in subsidiaries, associates and joint ventures that operate in segments, like Financial Services, IT services, Real Estate, Hospitality, Logistics, Defence, Renewables, etc. The operational revenue and results of these investments get reflected in the consolidated results of the Company. As part of the group strategy and vision, the Company is focused on operational efficiencies and synergies and driving value creation through partnerships, mergers and acquisitions in order to generate periodic returns from these portfolio of investments/businesses. The CODM (Chief Operating Decision Maker) of the Company therefore manages investments/businesses, allocates capital and measures performance under three key verticals, namely Automotive, Farm Equipment and Services. Pursuant to this, the Group has reported four segments, namely Automotive, Farm Equipment, Financial Services and Industrial Businesses and Consumer Services. Financial Services is part of the Services vertical but reported separately as it meets the required quantitative threshold for separate reporting. Industrial Businesses and Consumer Services segment comprises all other segments that individually do not meet the threshold for separate reporting. Further, the share of profit or loss and investments in associates and joint ventures are reported in their respective segments. Description of the each of the reportable segments is as under: (a) Automotive: This segment comprises of sale of automobiles, two wheelers, spares, construction equipments and related services. (b) Farm Equipment: This segment comprises of sale of tractors, implements, spares, powerol and related services. (c) Financial Services: This segment comprises of offering financial products ranging from retail and other loans, SME finance, housing finance, mutual funds and life and non-life insurance broking services. (d) Industrial Businesses and Consumer Services segment comprises of all other segments like IT services, Real Estate, Hospitality, Logistics, Steel trading and processing, Renewables, After-market, Defence, Agri, etc. that individually do not meet the reporting thresholds. The measurement of each segment’s revenues, expenses, assets and liabilities is consistent with the accounting policies that are used in preparation of the consolidated financial statements. Segment result represents the profit before interest and tax without allocation of corporate income and expenses. Information regarding the Group’s reportable segments is presented below: Rupees crores Particulars Automotive Farm Equipment Services Total Eliminations Consolidated Total Financial Services Industrial Businesses and Consumer Services Revenue External Revenue...................................................................................................... 90,424.08 35,315.81 18,295.83 15,175.10 1,59,210.82 — 1,59,210.82 75,488.31 33,398.87 15,652.02 14,539.07 1,39,078.27 — 1,39,078.27 Inter segment revenue.......................................................................................... 400.50 59.49 — 3,796.33 4,256.32 (4,256.32) — 667.67 75.28 — 3,180.03 3,922.98 (3,922.98) — Total Income from operations..................................................................... 90,824.58 35,375.30 18,295.83 18,971.43 1,63,467.14 (4,256.32) 1,59,210.82 76,155.98 33,474.15 15,652.02 17,719.10 1,43,001.25 (3,922.98) 1,39,078.27 Result Segment result before Share of profit of associates and joint ventures, (net).............................................................................................................. 7,930.96 4,933.56 2,936.80 1,124.85 16,926.17 16,926.17 6,157.20 4,311.64 2,501.11 1,108.70 14,078.65 14,078.65 Segment result after Share of profit of associates and joint ventures, (net).............................................................................................................. 7,797.40 4,946.65 3,002.02 2,717.52 18,463.59 18,463.59 6,057.12 4,326.62 2,557.22 2,259.12 15,200.08 15,200.08 Reconciliation to Profit/(Loss) after tax (a) Unallocable income, net of expenses............................................... 64.59 547.79 (b) Interest expenses not allocable to segments............................ (681.51) (544.06) (c) Interest income not allocable to segments................................. 1,232.95 773.98 Profit before tax......................................................................................................... 19,079.62 15,977.79 Tax expense................................................................................................................... (5,006.45) (3,707.97) Profit after tax............................................................................................................. 14,073.17 12,269.82
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