Our revenue for CY23 was 5.2% higher compared to the revenue from the previous year; domestic business grew by 9.2%. The automotive business registered strong growth though the industrial business slowed down slightly while exports lagged due to external economic headwinds.

EBIT went up 2.9% from CY22 to CY23 following sustained quality of earnings due to efficient utilisation of resources and productivity measures.

* Earnings Before Interest & Tax (before exceptional item),

Our PAT for the year stood at H9,090 crore, up 3.4%, while PAT margins reduced marginally due to adverse sales mix.

In line with PAT, EPS was up marginally over the previous year.

We continued our endeavours to optimise working capital management, utilisation of plant capacities, and capital expenditure practices, which resulted in a healthy Free Cash Flow (before cash in and outflows for M&A activities) of `4,620 million during CY23, up by 22.6% as compared to the previous year.

¹ Before cash in and outflows for M&A activities

As part of our commitment to expanding our business, we invested `5,531 million in Capex, up from `4,990 million in the previous year. Although this year saw slightly slower growth, we continued our expansion plans focusing on mid-to long-term growth potential.

¹ Capex Gross

We remained focused on maximising shareholder value during CY23 and achieved a dividend payout of `26 per equity share (with a face value of `2).

¹ 5-year CAGR

This year’s dividend payout ratio stands at 45%. This ratio has been gradually increasing and is in line with our target dividend payout range of 30-50% of the annual standalone PAT.