Other assets (Current + Non-current)
- Taxes recoverable, statutory deposits and dues from
government decreased to Rs.1,561.81 crores as at March 31,
2019, as compared to Rs.1,978.74 crores as at March 31, 2018.
The above was offset by: - Capital advances which increased to Rs.374.95 crores as at March 31, 2019, as compared to Rs.285.54 crores as at March 31, 2018
- Recoverable form insurance companies increased to Rs.354.56 crores as at March 31, 2019 as compared to Rs.212.96 crores as at March 31, 2018.
Shareholders’ fund was Rs.22,162.52 crores and Rs.20,170.98 crores as at March 31, 2019 and 2018, respectively, an increase of 9.9%.
Reserves increased by 10.2% from Rs.19,491.76 crores as at March 31, 2018 to Rs.21,483.30 crores as at March 31, 2019, mainly due to profits for FY 2018-19.
Borrowings
Current maturities of long-term borrowings represent the amount of loan repayable within one year.
Other financial liabilities
Financial guarantee contracts is Rs.NIL as at March 31, 2019, as compared to Rs.977.26 crores as at March 31, 2018. Further, current maturities of long-term borrowings were Rs.1,102.10 crores as at March 31, 2019 as compared to Rs.2,208.06 crores as at March 31, 2018. Furthermore, interest accrued but not due on borrowings were Rs.373.04 crores as at March 31, 2019 as compared to Rs.500.06 crores as at March 31, 2018. These decreases were offset by increase in deposits and retention money to Rs.397.06 crores as at March 31, 2019, as compared to Rs.186.44 crores as at March 31, 2018.
Trade payables were Rs.10,408.83 crores as at March 31, 2019, as compared to Rs.9,411.05 crores as at March 31, 2018, mainly due to creditors for goods supplied and services received, liabilities for variable marketing expenses etc. The number of day’s payable outstanding is 63 days in FY 2018-19 compared to 68 days in FY 2017-18. The cash conversion cycle as at March 31, 2019 is negative 21 days in FY 2018- 19 as compared to negative 16 days in FY 2017-18.
Acceptanceswere Rs.3,093.28 crores as at March 31, 2019, as compared to Rs.4,814.58 crores as at March 31, 2018.
Provisions (current and non-current) were made towards warranty and employee benefit schemes. Short-term provisions are those, which are expected to be settled during next financial year. The details are as follows:
- Provision for warranty increased to Rs.1,612.37 crores as at March 31, 2019, as compared to Rs.1,103.47 crores as at March 31, 2018, an increase of Rs.508.90 crores, mainly due to increase in volumes, higher warranty cost for BS IV models and also increase of warranty period for certain vehicle models, w.e.f. January 1, 2018.
- The provision for employee benefits obligations were at Rs.739.53 crores as at March 31, 2019, as compared to Rs.655.05 crores as at March 31, 2018.