Godrej Industries Limited

Consolidated Balance Sheet as at March 31, 2018

Amount ` in Crore
Particulars Note No. As at As at
March 31, 2018 March 31, 2017
ASSETS
Non Current Assets
Property, Plant and Equipment 3 2,605.02 2,591.56
Capital Work in Progress 3a 269.83 54.09
Investment Property 3b 140.31 126.21
Goodwill 500.31 500.29
Other Intangible Assets 3c 56.67 63.06
Intangible Assets Under Development 3d 0.68 0.25
Biological Assets other than bearer plants 3e 4.26 4.67
Equity accounted investees 4a 2,899.72 2,480.28
Financial Assets
Investments 4b 756.96 353.67
Trade Receivables 5 13.39 13.33
Loans 6 109.53 101.95
Other Financial Assets 7 12.62 7.76
Deferred Tax Assets (net) 8 293.68 289.32
Other Tax Assets (net) 132.42 152.75
Other Non Current Assets 9 73.72 95.43
Current Assets
Inventories 10 3,429.29 5,020.34
Financial Assets
Investments 11 546.97 369.33
Trade Receivables 12 1,043.91 905.86
Cash and cash equivalents 13a 280.99 179.03
Other Bank balances 13b 192.15 55.90
Loans 14 1,101.22 735.69
Other Financial Assets 15 960.42 835.79
Current Tax Assets (net) 0.99 0.87
Other Current Assets 16 421.20 282.89
TOTAL ASSETS 15,846.26 15,220.32
EQUITY AND LIABILITIES
EQUITY
Equity Share Capital 17 33.63 33.61
Other Equity 18 3,875.26 3,162.01
Equity attributable to shareholders of the Company 3,908.89 3,195.62
Non-controlling interest 1,796.88 1,474.59
TOTAL EQUITY 5,705.77 4,670.21
LIABILITIES
Non Current Liabilities
Financial Liabilities
Borrowings 19 952.29 1,508.26
Other Financial Liabilities 20 - 35.33
Provisions 21 25.32 17.11
Deferred Tax Liabilities (net) 22 242.48 229.25
Other Non Current Liabilities 23 15.45 15.24
Current Liabilities
Financial Liabilities
Borrowings 24 5,311.78 5,592.31
Trade Payables 25 1,685.61 1,691.23
Other Financial Liabilities 26 1,166.08 858.35
Other Current Liabilities 27 639.24 556.48
Provisions 28 40.37 30.94
Current Tax Liabilities (net) 61.87 15.61
TOTAL LIABILITIES 10,140.49 10,550.11
TOTAL EQUITY AND LIABILITIES 15,846.26 15,220.32
Significant Accounting Policies 2
The accompanying notes form an integral part of the consolidated financial statements
As per our Report attached of even date For and on behalf of the Board of Directors of Godrej Industries Limited
CIN No.: L24241MH1988PLC097781
For BSR & Co. LLP A. B. Godrej N. B. Godrej
Chartered Accountants Chairman Managing Director
Firm Regn. No.: 101248W / W-100022 DIN: 00065964 DIN: 00066195
Vijay Mathur N. S. Nabar Clement Pinto Nilufer Shekhawat
Partner Executive Director Chief Financial Officer Company Secretary
M.No.: 046476 & President (Chemicals)
DIN: 06521655
Mumbai, May 23, 2018

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 Annual Report 2017-18

Consolidated Statement of Profit and Loss for the year ended March 31, 2018
Amount ` in Crore
Particulars Note No. Year ended Year ended
March 31, 2018 March 31, 2017
Revenue from Operations 29 9,405.05 8,482.53
Other Income 30 563.78 168.87
Total Income 9,968.83 8,651.40
Expenses
Cost of Materials Consumed 31a 5,063.59 4,730.12
Purchases of Stock in Trade 621.70 515.04
Cost of Property Development 31b 1,464.84 1,073.31
Changes in Inventories of Finished Goods, Stock-in-Trade and Work-in-Progress 32 2.16 (54.06)
Excise Duty 48.56 117.40
Employee Benefits Expenses 33 574.16 474.52
Finance Costs 34 413.15 401.82
Depreciation and Amortization Expenses 35a 175.27 148.14
Other Expenses 35b 1,188.32 985.27
Total Expenses 9,551.75 8,391.56
Profit Before Exceptional Items, Share of Profit of Equity Accounted Investees and Tax 417.08 259.84
Exceptional Items 36 12.05 22.76
Profit Before Share of Profit of Equity Accounted Investees and Tax 429.13 282.60
Share of Profit of Equity Accounted Investees (net of Income Tax) 385.63 343.63
Profit before Tax 814.76 626.23
Tax Expense
Current Tax 161.08 182.65
Deferred Tax 14.24 (18.51)
Prior Period Tax adjustments 8.34 3.27
Total Tax Expenses 183.66 167.41
Profit for the Year 631.10 458.82
Other Comprehensive Income
Items that will not be reclassified to Profit or Loss
Remeasurements of defined benefit plans (10.39) (8.63)
Equity accounted investees' share of other comprehensive income (0.99) (0.24)
Income Tax related to Items that will not be reclassified to Profit or Loss 3.83 1.60
Items that will be reclassified to Profit or Loss
a) Exchange differences on translation of financial statements of foreign operations 10.38 (21.84)
b) Effective portion of (losses)/gains on hedging instruments in cash flow hedges (3.50) 6.38
Income Tax related to Items that will be reclassified to Profit or Loss (0.19) (1.09)
Total Other Comprehensive Income (0.86) (23.82)
Total Comprehensive Income for the Year 630.24 435.00
Profit Attributable to :
a) Owners of the Company 421.37 256.45
b) Non-Controlling Interest 209.73 202.37
Other Comprehensive Income Attributable to :
a) Owners of the Company 3.14 (23.08)
b) Non-Controlling Interest (4.00) (0.74)
Total Comprehensive Income Attributable to :
a) Owners of the Company 424.51 233.37
b) Non-Controlling Interest 205.73 201.63
Earnings Per Equity Shares (Face Value of ` 1 each) 37
Basic 12.48 7.13
Diluted 12.47 7.12
Significant Accounting Policies 2
The accompanying notes form an integral part of the consolidated financial statements
As per our Report attached of even date For and on behalf of the Board of Directors of Godrej Industries Limited
CIN No.: L24241MH1988PLC097781
For BSR & Co. LLP A. B. Godrej N. B. Godrej
Chartered Accountants Chairman Managing Director
Firm Regn. No.: 101248W / W-100022 DIN:00065964 DIN: 00066195
Vijay Mathur N. S. Nabar Clement Pinto Nilufer Shekhawat
Partner Executive Director Chief Financial Officer Company Secretary
M.No.: 046476 & President (Chemicals)
DIN: 06521655
Mumbai, May 23, 2018

121
 Annual Report 2017-18

Consolidated Cash Flow Statement for the year ended March 31, 2018
Amount ` in Crore
Particulars Year ended Year ended
March 31, 2018 March 31, 2017
A. Cash Flow From Operating Activities:
Profit Before Tax 814.76 626.23
Adjustments for:
Depreciation and Amortisation 175.27 148.14
Unrealised Foreign Exchange revaluation (4.02) (12.20)
Profit on Sale of Investments (net) (210.92) (24.01)
(Profit) / Loss on Sale, Write off and Provision of Property, Plant and 1.38 15.78
Equipment (net)
Grant amortisation (1.49) (1.16)
Share issue expense 0.01 -
Expenses on Amalgamation 1.07 1.35
Interest Income (146.22) (107.76)
Interest & Finance Charges 413.15 401.81
Employee Stock Grant Scheme 6.56 9.71
Income from Investment measured at FVTPL (158.98) (3.46)
Bad Debts written off 8.21 7.99
Write down of inventories 100.87 14.27
Share of profit of Equity accounted investees (net of tax) (385.63) (343.63)
Provision / (Write back) for Doubtful Debts and Sundry Balances (net) 46.96 7.43
Liabilities no longer required written back (3.81) (0.28)
Interest unwinding on Financial Instruments (0.68) (2.10)
Prepaid Rent Amortisation of Financial Instrument 0.70 2.03
Exceptional Income (12.05) (22.76)
Inventory lost due to fire 2.63 -
Lease rent from investment property (0.37) -
Operating Profit Before Working Capital Changes 647.40 717.38
Adjustments for :
Increase/ (Decrease) in Non-financial Liabilities 115.99 (134.23)
Increase/ (Decrease) in Financial Liabilities 88.16 139.97
(Increase)/ Decrease in Inventories 1,206.04 55.78
(Increase)/ Decrease in Biological assets other than bearer plants 0.41 4.20
(Increase)/ Decrease in Non-financial Assets (154.20) 98.15
(Increase)/ Decrease in Financial Assets (53.57) (62.54)
Cash Generated from Operations 1,850.23 818.71
Direct Taxes Paid (160.20) (249.31)
Net Cash Generated from Operating Activities 1,690.03 569.40
B. Cash Flow from Investing Activities:
Purchase of Property, Plant and Equipment (483.93) (282.68)
Proceeds from Sale of Property, Plant and Equipment 17.75 13.08
Proceeds from sale of stake in subsidiaries 201.24 1.56
Purchase of Investment (1,738.75) (987.04)
Proceeds from Sale of Investments 1,567.65 1,088.53
Loan given to joint ventures, others (net) (676.19) (222.15)
Intercorporate Deposits / Loans (net) (0.84) 55.40
Expenses on Amalgamation (1.07) (1.35)
Interest Received 95.60 100.16
Dividend Received 0.61 -
Lease rent from investment property 0.37 -
Net Cash (used) in Investing Activities (1,017.56) (234.49)
C. Cash Flow from Financing Activities:
Proceeds from issue of Equity shares 1.85 1.54
Proceeds from sale of Treasury shares - 35.60
Transactions with non-controlling interests 298.98 (23.48)
Redemption of preference shares (0.01) -
Share issue expense (14.27) 0.00
Proceeds from Non Current Borrowings 552.59 992.09
Repayment of Non Current Borrowings (933.13) (346.94)
(Repayment of ) /Proceeds from Current Borrowings (net) (192.34) (567.76)
Interest & Finance Charges Paid (560.83) (618.28)
Dividend Paid (92.61) -
Payment of unclaimed fixed deposits (0.69) (0.73)
Tax on Distributed Profits (18.80) (0.08)
Net Cash (used) in Financing Activities (959.26) (528.04)

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Godrej Industries Limited

Consolidated Cash Flow Statement for the year ended March 31, 2018
Amount ` in Crore
Particulars Year ended Year ended
March 31, 2018 March 31, 2017
Net Increase / (Decrease) in Cash and Cash Equivalents (286.79) (193.12)
Cash and Cash Equivalents (Opening Balance) (75.52) 117.60
Cash and Cash Equivalents (Closing Balance) (362.31) (75.52)

Notes:
1. The Cash Flow Statement has been prepared under the indirect method as set out in Indian Accounting Standard (Ind
AS 7) Statement of Cash Flows.
Amount ` in Crore
2 Particulars Year ended Year ended
March 31, 2018 March 31, 2017
Cash and Cash Equivalents
Cash on Hand and Balances with Banks 280.99 179.03
Bank Overdraft repayable on Demand (643.30) (254.55)
Cash and Cash Equivalents (362.31) (75.52)

3 Effect of disposal of subsidiary on the financial position of the Group

Amount ` in Crore
Particulars Year ended
March 31, 2018
Capital work-in-progress 476.72
Investments in joint ventures and associate 0.00
Deferred tax assets (net) 0.10
Current Non-Financial Assets 2.39
Cash and cash equivalents 0.13
Non Current Financial Liabilities 456.56
Current Financial Liabilities 21.69
Current Non-Financial Liabilities 0.79
Assets net of Liabilities 0.29
Consideration received, satisfied in cash 136.17
Cash and Cash Equivalents disposed of (0.13)
Net Cash Inflows 136.04
4 Reconciliation of liabilities arising from financing activities
Amount ` in Crore
Particulars As at Cash Non Cash As at
March 31, 2017 Flow Changes March 31, 2018
Non Current Borrowings (including current maturities of long 1,960.45 (353.70) (20.54) 1,586.21
term debt)
Current Borrowings 5,336.35 (219.18) (454.29) 4,662.88
Total Borrowings 7,296.80 (572.88) (474.83) 6,249.09

As per our Report attached of even date For and on behalf of the Board of Directors of Godrej Industries Limited
CIN No.: L24241MH1988PLC097781
For BSR & Co. LLP A. B. Godrej N. B. Godrej
Chartered Accountants Chairman Managing Director
Firm Regn. No.: 101248W / W-100022 DIN: 00065964 DIN: 00066195
Vijay Mathur N. S. Nabar Clement Pinto Nilufer Shekhawat
Partner Executive Director Chief Financial Officer Company Secretary
M.No.: 046476 & President (Chemicals)
DIN: 06521655
Mumbai, May 23, 2018

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