184 75 Integrated Annual Report 2019-20

th

Balance Sheet Notes As at

March 31, 2020

I. ASSETS
(1) NON-CURRENT ASSETS
(a) Property, plant and equipment 3 18,870.67
(b) Capital work-in-progress 1,755.51
( c) Right of use assets 4 (a) 669.58
(d) Goodwill 99.09
(e) Other intangible assets 5 (a) 5,568.64
(f) Intangible assets under development 5 (b) 2,739.29
(g) Investments in subsidiaries, joint ventures and associates 7 15,182.29
(h) Financial assets
(i) Investments 9 548.57
(ii) Loans and advances 11 138.46
(iii) Other financial assets 13 1,512.96
(i) Non-current tax assets (net) 727.97
(j) Other non-current assets 15 1,208.08
49,021.11
(2) CURRENT ASSETS
(a) Inventories 17 3,831.92
(b) Investments in subsidiaries and associate (held for sale) 8 -
( c) Financial assets
(i) Investments 10 885.31
(ii) Trade receivables 18 1,978.06
(iii) Cash and cash equivalents 20 2,145.30
(iv) Bank balances other than (iii) above 21 1,386.89
(v) Loans and advances 12 232.14
(vi) Other financial assets 14 1,546.56
(d) Assets classified as held for sale 50 (iv) 191.07
(e) Other current assets 16 1,371.51

13,568.76
TOTAL ASSETS 62,589.87
II. EQUITY AND LIABILITIES
EQUITY
(a) Equity share capital 22 719.54
(b) Other equity 17,668.11
18,387.65
LIABILITIES
(1) NON-CURRENT LIABILITIES
(a) Financial liabilities
(i) Borrowings 24 14,776.51
(ii) Lease liabilities 522.24
(iii) Other financial liabilities 26 854.74
(b) Provisions 28 1,769.74
( c) Deferred tax liabilities (net) 198.59
(d) Other non-current liabilities 31 269.58
18,391.40
(2) CURRENT LIABILITIES
(a) Financial liabilities
(i) Borrowings 25 6,121.36
(ii) Lease liabilities 83.30
(iii) Trade payables
(a) Total outstanding dues of micro and small enterprises 101.56
 (b) Total outstanding dues of creditors other than micro and small enterprises 8,000.69
(iv) Acceptances 2,741.69
(v) Other financial liabilities 27 5,976.35
(b) Provisions 29 1,406.75
( c) Current tax liabilities (net) 31.49
(d) Other current liabilities 32 1,347.63
25,810.82
TOTAL EQUITY AND LIABILITIES 62,589.87
See accompanying notes to financial statements
In terms of our report attached For and on behalf of the Board

Integrated
Report Statutory Reports | Financial Statements > Standalone

Statement of Profit and Loss

Notes
Year ended March 31, 2020
Revenue from operations
Revenue 43,485.76

Other operating revenue

442. 41

43,928.17
I. Total revenue from operations 33
II. Other Income 34
1,383. 05

III. Total Income (I+II)

45,311.22

IV. Expenses
(a) Cost of materials consumed 26,171.85

(b) Purchases of products for sale

5,679. 98

(c) Changes in inventories of finished goods, work-in-progress and products for sale
722. 68

(d) Employee benefits expense 35

4,384. 31

(e) Finance costs 36

1,973. 00

(f) Foreign exchange loss (net)

239. 00

(g) Depreciation and amortisation expense

3,375. 29

830. 24

(h) Product development/Engineering expenses

(i) Other expenses 37
7,720. 75

(j) Amount transferred to capital and other accounts 38 (1,169.46)

Total Expenses (IV)

49,927.64

V. Profit/(loss) before exceptional items and tax (III-IV)

(4,616.42)

VI. Exceptional items

(a) Employee separation cost 2.69
(b) Write off/(reversal) of provision/ impairment of capital work-in-progress and intangibles under 39 (a) (73.03)
development (net)
(c) Provision for loan given to/investment in subsidiary companies/joint venture
385. 62

(d) Profit on sale of investment in a subsidiary company 39 (b) -

(e) Provision for impairment of Passenger Vehicle Business 6 (a)
1,418. 64

777. 00

(f) Provision for Onerous Contracts 6 (b)

(g) Others 39 (c) -

VII. Profit/(loss) before tax (V-VI)

(7,127.34)

VIII. Tax expense (net) 30

(a) Current tax 33.05
(b) Deferred tax
129. 24

Total tax expense

162. 29

(7,289.63)
IX. Profit/(loss) for the year from continuing operations (VII-VIII)
X. Other comprehensive income/(loss):
(A) (i) Items that will not be reclassified to profit or loss:
(a) Remeasurement losses on defined benefit obligations (net)
( 105. 32)

(b) Equity instruments at fair value through other comprehensive income

( 115. 72)
 (ii) Income tax credit relating to items that will not be reclassified to profit or loss 33.71
(B) (i) Items that will be reclassified to profit or loss - losses in cash flow hedges
( 294. 19)

102. 80

(ii) Income tax credit relating to items that will be reclassified to profit or loss
Total other comprehensive loss, net of taxes
( 378. 72)

XI. Total comprehensive income/(loss) for the year (IX+X)

(7,668.35)

XII. Earnings per equity share (EPS) 41

(A) Ordinary shares (face value of < 2 each) :
(i) Basic < (21.06)
(ii) Diluted < (21.06)
(B) ‘A’ Ordinary shares (face value of < 2 each) :
(i) Basic < (21.06)
(ii) Diluted < (21.06)
See accompanying notes to financial statements For and on behalf of the Board
In terms of our report attached
For B S R & Co. LLP N CHANDRASEKARAN [DIN:00121863] GUENTER BUTSCHEK
CharteredAccountants
Firm’s Registration No: 101248W/W-100022 Chairman CEOandManagingDirect
Place- Mumbai Place- Austria
YEZDI NAGPOREWALLA VEDIKA BHANDARKAR [DIN:00033808] P B BALAJI
Partner Director GroupChiefFinancialOffic
Membership No. 049265 Place- Mumbai Place- Mumbai

186 UDIN: 20049265AAAAAP9940 75 Integrated Annual Report 2019-20

th

Place- Mumbai H K SETHNA

Cash Flow Statement Year ended March 31, 2020

Cash flows from operating activities:
Profit/(loss) for the year (7,289.63)
Adjustments for:
Depreciation and amortisation expense 3,375.29
Allowances for trade and other receivables 65.35
Inventory write down (net) 84.50
Provision for loan given to/investment in subsidiary companies/joint venture 385.62
Exceptional item- others -
Provision for impairment of Passenger Vehicle Business 1,418.64
Provision for Onerous Contracts 777.00
Share-based payments 4.70
Marked-to-market loss/(gain) on investments measured at Fair value through profit or loss 0.43
Write off/(reversal) of provision for impairment of capital work-in-progress and intangibles under development (net) (73.03)
Loss on sale of assets (net) (including assets scrapped/written off) 168.04
Profit on sale of investment in a subsidiary company -
Profit on sale of investments at FVTPL (net) (70.16)
Gain on fair value of below market interest loans -
Tax expense (net) 162.29
Finance costs 1,973.00
Interest income (483.72)
Dividend income (241.22)
Foreign exchange loss (net) 182.32
7,729.05
Cash flows from operating activities before changes in following assets and liabilities 439.42

Trade receivables 1,168.02

Loans and advances and other financial assets 53.29
Other current and non-current assets 22.78
Inventories 730.01
Trade payables and acceptances (2,688.95)
Other current and non-current liabilities (1,165.05)
Other financial liabilities 201.38
Provisions (122.95)
Cash generated from/(used in) operations (1,362.05)
Income taxes paid (net) (92.54)
Net cash from/(used in) operating activities (1,454.59)
Cash flows from investing activities:
Payments for property, plant and equipments (2,748.60)
Payments for other intangible assets (1,919.98)
Proceeds from sale of property, plant and equipments 155.16
Redemption of investments in Mutual Fund (net) 358.87
Investments in subsidiary companies (467.00)
(Purchase)/sale of business from/to subsidiary company 25.82
Loan given to joint ventures -
Loan given to subsidiary companies (7.79)
Sale of Investment in a subsidiary company -
Sale of Investment in other companies -
Increase in short term inter corporate deposit (net) (10.07)
Deposits with financial institution (1,000.00)
Realisation of deposits with financial institution 750.00

Integrated
Report Statutory Reports | Financial Statements > Standalone

Cash Flow Statement

Year ended March 31, 2020
Deposits/restricted deposits with banks (3,419.37)
Realisation of deposits/restricted deposits with banks 2,851.53
Interest received 471.35
Dividend received 241.22
Net cash used in investing activities (4,718.86)
Cash flows from financing activities
Proceeds from issue of shares and warrants (net of issue expenses) 3,888.79
Proceeds from long-term borrowings (net of issue expenses) 4,781.55
Repayment of long-term borrowings (1,131.68)
Proceeds from Option settlement of long-term borrowings 190.90
Proceeds from short-term borrowings 9,178.61
Repayment of short-term borrowings (8,003.51)
Net change in other short-term borrowings (with maturity up to three months) 1,311.36
Repayment of lease liabilities (including interest) (193.63)
Dividend paid (3.52)
Interest paid [including discounting charges paid, <371.57 crores (March 31, 2019 <449.04 crores)] (2,269.66)
Net cash from/(used in) financing activities 7,749.21
Net increase/(decrease) in cash and cash equivalents 1,575.76
Cash and cash equivalents as at April 1, (opening balance) 487.40
Exchange fluctuation on foreign currency bank balances 82.14
Cash and cash equivalents as at March 31, (closing balance) 2,145.30

Non-cash transactions:
Liability towards property, plant and equipment and other intangible assets purchased on credit/ 403.02
deferred credit

Increase in liabilities arising from financing activities on account of non-cash transactions :

Exchange differences 660.75
Amortisation / EIR adjustments of prepaid borrowings 10.02
In terms of our report attached For and on behalf of the Board
For B S R & Co. LLP
port 2019-20

(< in crores)
As at March
31, 2019

18,316.61
2,146.96
-
99.09
3,871.13
4,139.63
14,770.81

663.38
143.13
994.39
715.30
1,819.90
47,680.33

4,662.00
257.81

1,175.37
3,250.64
487.40
819.21
200.08
1,279.68
162.24
934.87

13,229.30
60,909.63

679.22
21,483.30
22,162.52

13,914.74
5.07
180.80
1,281.59
205.86
218.24
15,806.30

3,617.72
3.64

134.12
 10,274.71
3,093.28
2,234.34
1,148.69
78.30
2,356.01
22,940.81
60,909.63

185

Year ended March 31, 2020 (< in crores)

Year ended March 31, 2019
43,485.76 68,764.88

442. 41

437.88

43,928.17 69,202.76

1,383. 05

2,554.66

45,311.22
71,757.42

26,171.85 43,748.77

5,679. 98

6,722.32
144.69
722. 68

4,384. 31

4,273.10
1,973. 00

1,793.57
239. 00

215.22

3,375. 29

3,098.64
830. 24

571.76

7,720. 75

9,680.46

(1,169.46) (1,093.11)

49,927.64
69,155.42
(4,616.42) 2,602.00

2.69 4.23
180.66

(73.03)
241.86
385. 62

(332.95)

-
1,418. 64

-
777. 00

-
109.27

-
(7,127.34) 2,398.93

33.05
294.66

129. 24

83.67
378.33
162. 29

(7,289.63) 2,020.60

( 105. 32)

(67.14)
( 115. 72)

55.44
 33.71 18.07
( 294. 19)

(45.72)
102. 80

15.92
( 378. 72)

(23.43)
(7,668.35) 1,997.17

(21.06) 5.94
(21.06) 5.94

(21.06) 6.04
(21.06) 6.04

GUENTER BUTSCHEK [DIN:07427375]

CEOandManagingDirector
Place- Austria
P B BALAJI
GroupChiefFinancialOfficer
Place- Mumbai

port 2019-20
H K SETHNA [FCS:3507]

(< in crores)
Year ended March 31, 2019

2,020.60

3,098.64
170.90
42.13
241.86
109.27
-
-
8.44
(1.90)
180.66
223.94
(332.95)
(69.27)
(13.37)
378.33
1,793.57
(335.87)
(1,526.25)
178.26
4,146.39
6,166.99

164.50
(276.11)
204.77
966.00
(725.29)
323.95
(892.00)
 542.04
6,474.85
(182.22)
6,292.63

(2,790.45)
(1,993.03)
30.25
413.74
(837.98)
(0.10)
(3.75)
(0.50)
532.96
5.18
(2.00)
(500.00)
-

187

(< in crores)
Year ended March 31, 2020
Year ended March 31, 2019
(3,419.37) (827.72)

2,851.53
257.08

471.35
327.16

241.22 1,568.61

(4,718.86) (3,820.55)

3,888.79 -
4,781.55 3,119.71

(1,131.68) (3,823.69)

190.90 -
9,178.61 6,274.19

(8,003.51) (5,153.61)

1,311.36 (588.97)

(193.63) -
(3.52) (2.63)
(2,269.66) (2,354.70)

7,749.21 (2,529.70)
1,575.76
(57.62)

487.40
546.82

82.14 (1.80)
2,145.30 487.40

438.19

403.02

660.75
341.51

10.02 3.21