Integrated Annual Report 2025-26 372 44. 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. 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. The Company in its standalone financial statement has reported five segments, namely Automotive, Farm Equipment, Auto Investments, Farm Investments and Investments in Industrial Businesses and Consumer Services. The Company has reported the dividend, interest and other investment related income pertaining to the aforesaid investment segments as ‘Income from Investments related to subsidiaries, associates and joint ventures’ as applicable. Similarly, loss pertaining to the aforesaid investment segments is reported as ‘Loss from Investments related to subsidiaries, associates and joint ventures’. Description of each of the reportable segments for all periods presented, 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) Auto Investments: This segment comprises of investments in automotive related subsidiaries, associates and joint ventures; d) Farm Investments: This segment comprises of investments in farm equipment related subsidiaries, associates and joint ventures; e) Industrial Businesses and Consumer Services’ segment: This segment comprises of investments in other than automotive & farm related subsidiaries, associates and joint ventures; The measurement of each segment’s revenues, expenses, assets and liabilities is consistent with the accounting policies that are used in preparation of the financial statements. Segment result represents the profit before interest and tax without allocation of corporate income and expenses. Information regarding the Company’s reportable segments is presented below : Rupees crores Particulars Automotive Farm Equipment Auto Investments Farm Investments Investment in Industrial Businesses and Consumer Services Total Segment Eliminations Total Revenue External Revenue.............................................................................. 1,09,199.57 36,376.20 32.03 117.66 2,039.89 1,47,765.35 — 1,47,765.35 87,287.47 29,196.21 18.83 65.49 2,056.53 1,18,624.53 — 1,18,624.53 Inter Segment Revenue................................................................ 155.36 33.07 — — — 188.43 (188.43) — 155.63 40.45 — — — 196.08 (196.08) — Income from operation.............................................................. 1,09,354.93 36,409.27 32.03 117.66 2,039.89 1,47,953.78 (188.43) 1,47,765.35 87,443.10 29,236.66 18.83 65.49 2,056.53 1,18,820.61 (196.08) 1,18,624.53 Results Segment Result.................................................................................. 10,141.22 7,206.27 (324.41) (203.21) 2,077.17 18,897.04 — 18,897.04 8,277.23 5,371.02 (175.40) (588.19) 2,090.10 14,974.76 — 14,974.76 Less: Finance costs........................................................................... 249.58 250.47 Add: Unallocated corporate income net of unallocated expenses..................................................................... 1,976.75 925.83 Profit before tax............................................................................. 20,624.21 15,650.12 Income Taxes........................................................................................ (4,985.28) (3,795.16) Profit after tax.................................................................................. 15,638.93 11,854.96
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