5327562022-07-012022-09-305327562022-09-305327562022-01-012022-09-305327562022-07-012022-09-30in-bse-fin:OtherExpenses1Member5327562022-01-012022-09-30in-bse-fin:OtherExpenses1Member5327562022-07-012022-09-30in-bse-fin:ReportableSegments1Member5327562022-07-012022-09-30in-bse-fin:ReportableSegments2Member5327562022-01-012022-09-30in-bse-fin:ReportableSegments1Member5327562022-01-012022-09-30in-bse-fin:ReportableSegments2Member5327562022-07-012022-09-30in-bse-fin:ReportableSegments1Member5327562022-07-012022-09-30in-bse-fin:ReportableSegments2Member5327562022-01-012022-09-30in-bse-fin:ReportableSegments1Member5327562022-01-012022-09-30in-bse-fin:ReportableSegments2Member5327562022-07-012022-09-30in-bse-fin:ReportableSegments1Member5327562022-09-30in-bse-fin:ReportableSegments1Member5327562022-07-012022-09-30in-bse-fin:ReportableSegments2Member5327562022-09-30in-bse-fin:ReportableSegments2Member5327562022-07-012022-09-30in-bse-fin:ReportableSegments1Member5327562022-09-30in-bse-fin:ReportableSegments1Member5327562022-07-012022-09-30in-bse-fin:ReportableSegments2Member5327562022-09-30in-bse-fin:ReportableSegments2Member5327562022-07-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15327562022-01-012022-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15327562022-07-012022-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15327562022-01-012022-09-30ItemsThatWillBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares532756MAHINDCIENOTLISTEDINE536H01010MAHINDRA CIE AUTOMOTIVE LIMITEDEquity2022-01-012022-12-312022-10-182022-09-29INRMillionsThird quarterGeographical2022-10-1815:30:002022-10-1817:00:00Not applicable2022-07-012022-09-30UnauditedConsolidated2723147000013803000027369500000147258600000-1422400003193750000166370000871690000628501000025100440000226906000002269060000575720000-173300005583900000171067000000030000001713670000-660850000105282000000003793170000104.524.52004.524.521.The statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable. <BR> 2. In September 2018, the Board of Directors of Mahindra CIE Automotive Limited decided to dispose off the Forgings business in United Kingdom, corresponding to the Company Stokes Group Limited. Due to that decision, the Company has discontinued the operations of Stokes Group Limited, classifying them as a disposal group, and reclassifying the profit and loss account of the Company to results from discontinued operations in its consolidated result. <BR> 3. The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 18 October, 2022. The results are subjected to Limited Review by the auditors of the Company in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR). <BR> 4.Exceptional Items pertains to onetime payment made to employees opting for early retirement under the Voluntary Retirement Scheme declared in December 2021 in Stampings Division. <BR> 5. the subsidiaries and associated companies forming part of consolidated financial results of Mahindra CIE Automotive Limited (MCIE) are listed in “Annexure A” with the statement. <BR> 6. The Finance Act, 2021 has introduced an amendment to section 32 of the Income Tax Act, 1961, whereby Goodwill of a business will not be considered as a depreciable asset and depreciation on goodwill will not be allowed as deductible expenditure effective April 1, 2020. <BR> In accordance with the requirements of Ind AS 12 - Income Taxes, the Company has recognised tax expense amounting to INR 1,425 million in the year ended 31 March, 2021 as the outcome on the difference between Goodwill as per the books of account and its updated tax base of NIL resulting from the aforementioned amendment, in addition to the current tax expense debited to the statement of profit and loss. This deferred tax liability is not expected to be a cash outflow in the future and its reversal is deemed unlikely as the value of its associated goodwill is expected by value in use. <BR> 7. The company had inadvertently recorded a consolidation adjustment aggregating to INR 1,254.70 millions and INR 892.03 millions relating to 'cost of materials consumed' in 'Other expenses·, in respect of its foreign subsidiaries, in the quarter ended March 31, 2022 and June 30, 2022, respectively. There is no impact of the restatement on total expenditure, profit before tax, profit after tax for the quarters and consequently on the earning per share (EPS). This adjustment has been corrected and the comparative information has been restated in the 'Consolidated Statement of Profit and Loss' for the quarter ended June 30, 2022. Kindly refer the table given in pdf file which summarises the impact on Consolidated Statement of Profit and Loss. <BR> <BR> (Amt in Rs. Milion) <BR> Particulars As previously reported Adjustment Restated <BR> (For quarter ended 30 June 2022) <BR> Cost of Material Consumed 13,829.24 892.03 14,721.27 <BR> Other Expenses 6,819.35 (892.03) 5,927.32 <BR> (For quarter ended 31 March 2022) <BR> Cost of Material Consumed 12,321.54 1,254.70 13,576.24 <BR> Other Expenses 7,384.10 (1,254.70) 6,129.40 <BR> <BR> 8.On 22nd July 2022, the Board of Directors accorded their consent for transfer of a portion of the freehold land situated in Kanhe, Pune which is currently leased to other entities. The carrying value of said asset of INR 8.3 million has been classified as "Asset held for sale". The transaction is expected to be completed in the next 12 months.2022-01-012022-09-30UnauditedConsolidated8001211000077706000080789170000430233700000-3454500009984840000295160000263104000018341730000739306900006858480000068584800001675890000-15700000166019000005198290000000181600005216450000-11960400004020410000000037931700001013.7613.760013.7613.76Other Expenses6285010000Other Expenses18341730000India15428900000Eurpoe11920310000India42257330000Eurpoe3811201000027349210000803693400001177400003572300002723147000080012110000India1626160000Eurpoe812270000India4402120000Eurpoe27696800002438430000717180000016637000029516000022720600006876640000India58983220000Eurpoe47566320000106549540000106549540000India22914260000Eurpoe2856438000051478640000514786400001. Segment information is exclusive of discontinued operations. <BR> 2. India includes Maxico operations.Items that will not be reclassified to profit or loss-1000000-1000000Items that will not be reclassified to profit or loss-2000000-2000000-250000-500000Items that will be reclassified to profit or loss-660100000-660100000Items that will be reclassified to profit or loss-1194540000-119454000000