Indian Oil Corporation Limited 3rd Integrated Annual Report 61st Annual Report 2019-20

About the Report

NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS
Note - 11 : CASH AND CASH EQUIVALENTS Note - 14 : EQUITY SHARE CAPITAL
(₹ in Crore) (₹ in Crore)
Particulars March 31, 2020 March 31, 2019 Particulars March 31, 2020 March 31, 2019

Chairman’s Desk
Bank Balances with Scheduled Banks : Authorized:

From the
In Current Account 931.22 341.14 15000000000 Equity Shares of ₹ 10 each 15,000.00 15,000.00
In Fixed Deposit - Maturity within 3 months 407.89 444.74 Issued Subscribed and Paid Up:
1,339.11 785.88 9414158922 (2019: 9414158922) 9414.16 9,414.16
Bank Balances with Non-Scheduled Banks 93.27 129.71 Equity Shares of ₹ 10 each fully paid up

About IndianOil
Cheques, Drafts in hand 1.75 15.16 Less: Equity Shares held under IOC Shares Trust 233.12 233.12
Cash in Hand, Including Imprest 0.48 2.34 233118456 (2019: 233118456)
TOTAL 1434.61 933.09 Equity Shares of ₹ 10 each fully paid up
TOTAL 9,181.04 9,181.04

Description of Capitals
Note - 12 : BANK BALANCES OTHER THAN ABOVE A. Reconciliation of No. of Equity Shares
(₹ in Crore) Opening Balance 9414158922 9711809928
Particulars March 31, 2020 March 31, 2019 Shares bought back - 297651006
Fixed Deposits A 812.34 82.61 Closing Balance 9414158922 9414158922
Earmarked Balances B 48.31 44.58
B. Terms/Rights attached to Equity Shares

Board of Directors, etc.

Blocked Account C 0.74 0.68
Other Bank Balances D 0.01 0.01
The Holding Company has only one class of equity shares having par value of ₹ 10 each and is entitled to one vote per share.
TOTAL 861.40 127.88 In the event of liquidation of the corporation, the holders of equity shares will be entitled to receive the remaining assets of
the Company in proportion to the number of equity shares held.
A. Earmarked in favour of Statutory Authorities. 8.20 8.00

B. Pertains to IOC Shares Trust (Shareholder) has waived its right to receive the dividend w.e.f. March 2, 2020.

- Unpaid Dividend 48.29 44.56

Directors’ Report
C. Details of shareholders holdings more than 5% shares
- Fractional Share Warrants 0.02 0.02

C. There exists restrictions on banking transactions in Libya due to political unrest.

March 31, 2020 March 31, 2019
D. There exists restrictions on repatriation from bank account in Myanmar. Name of Shareholder
Number of Percentage of Number of Percentage of
shares held Holding shares held Holding

Discussion & Analysis

THE PRESIDENT OF INDIA 4848133178 51.50 4912149459 52.18

Management’s
Note - 13 : ASSETS HELD FOR SALE
OIL AND NATURAL GAS CORPORATION LIMITED 1337215256 14.20 1337215256 14.20
(₹ in Crore)
LIFE INSURANCE CORPORATION OF INDIA 610467282 6.48 612921292 6.51
Particulars Note March 31, 2020 March 31, 2019
OIL INDIA LIMITED 485590496 5.16 485590496 5.16
Freehold land A 1.56 1.65
Building 0.30 0.32

Responsibility Report
D. For the period of preceding five years as on the Balance Sheet date, the:
Plant and Equipment 235.11 224.81

Business
Office Equipment B 0.59 0.52 (a) Aggregate number and class of shares allotted as fully paid up pursuant to contract(s) without payment being
Nil
received in cash
Transport Equipment 0.02 0.08
(b) Aggregate number of shares allotted as fully paid up by way of bonus shares:
Furniture and Fixtures 0.03 0.02
- During FY 2016-17 (October 2016) in ratio of 1:1 2427952482

Corporate Governance
Total 237.61 227.40
- During FY 2017-18 (March 2018) in ratio of 1:1 4855904964

Report on
A. The Group has surplus land at various locations such as LPG Plant , Depots and RO’s etc. which is under the process of
disposal. The management intends to sell the land. No impairment was recognised on reclassification of land as held (c) Aggregate number and class of shares bought back - During FY 2018-19 (February 2019) 297651006
for sale as the Group expects that the fair value (estimated based on the recent market prices of similar properties in
similar locations) less costs to sell is higher than the carrying amount.

Financial Statements
B. Includes non current assets retired from active use earlier used in various segments and held for disposal through

Consolidated
tendering process within a year.

During the year, the Group has recognized impairment loss of ₹ 42.32 crore (2019: ₹ 150.36 crore) on write-down of asset
to fair value less costs to sell and the same has been shown in Provision/loss on Other Assets sold or written off under
‘Other Expenses’ in the Statement of Profit and Loss.

340 Financial Statements Financial Statements 341