183 STATUTORY REPORTS | Management Discussion and Analysis Discussion On Financial Performance With Respect To Operational Performance Overview The financial statements have been prepared in accordance with Ind AS as per the Companies (‘Indian Accounting Standards’) Rules, 2015, as amended and notified under Section 133 of the Companies Act, 2013 (’the Act’) and other relevant provisions of the Act. Financial Information [Standalone] Property, Plant And Equipment And Intangible Assets As at 31st March 2026, the Property, Plant and Equipment and Intangible Assets stood at Rs. 24,996 crore as compared to Rs. 23,556 crore as at 31st March 2025. During the year, the Company incurred capital expenditure of Rs. 6,308 crore as compared to Rs. 5,115 crore in the previous year mainly on new product development and capacity enhancement. Borrowings (Rs. in crore) Borrowings have reduced from Rs. 1,135 crore in the previous year to Rs. 1,056 crore in the current year mainly due to repayments this year. Results Of Operations Income Inventories Raw materials and bought out components as a percentage of cost of materials consumed has decreased due to improved inventory management, better procurement efficiency and lower wastage. Finished goods and stock-in-trade as a percentage of sale of products has decreased due to better inventory management and increase in sales. Trade Receivable: Trade Receivables are Rs. 6,486 crore as at 31st March 2026, as compared to Rs. 5,726 crore as at 31st March 2025. As a percentage of revenue from sales of products and services, trade receivables are lower at 4.5% as at 31st March 2026, as compared to 5.0% for the previous year mainly on account of better collection efforts and higher volume. Borrowings Long-term borrowings Short-term borrowings Total FY26 527 529 1,056 FY25 1,056 79 1,135 Inc./(Dec.) (529) 450 (79) Raw materials and bought out components as a % of cost of materials consumed Finished goods and Stock-in-trade as a % of sales of products FY26 4.5% 3.1% FY25 5.0% 4.4% Particulars Revenue from operations Income from investment related to subsidiaries, associates, and joint ventures Income from Operations Other income FY26 Amount (Rs. in crore) 1,45,576 2,190 1,47,766 2,775 % to Income from Operations 98.5 1.5 100.0 1.9 Amount (Rs. in crore) 1,16,484 2,141 1,18,625 1,712 % to Income from Operations 98.2 1.8 100.0 1.4 % 25.0 2.3 24.6 62.1 FY25 Inc./(Dec.)
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