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 - 2.1 : CAPITAL WORK IN PROGRESS Note - 2.2 : CONSTRUCTION PERIOD EXPENSES(NET) DURING THE YEAR
(₹ in Crore) (₹ in Crore)

Particulars March 31, 2020 March 31, 2019 Particulars March 31, 2020 March 31, 2019

Chairman’s Desk
From the
Construction Work in Progress - Tangible Assets Employee Benefit Expenses 372.08 342.62

(Including unallocated capital expenditure, materials at site) Repairs and Maintenance 4.12 5.28

Balance as at beginning of the year 15,527.53 9,732.86 Power & Fuel 161.70 33.09

Add: Additions during the year 17,386.24 11,952.09 Rent 8.36 6.80
Insurance 10.14 7.44

About IndianOil
Less: Transfer to Property, Plant and Equipment (Note 2) 12,565.17 6,500.72
Less: Transfer to Statement of Profit and Loss 10.60 1.11 Rates and Taxes 3.19 3.86

Less: Other Allocation/ Adjustment during the year (278.59) (344.41) Travelling Expenses 55.06 39.31

20,616.59 15,527.53 Communication Expenses 1.63 1.22

Less: Provision for Capital Losses 23.90 30.89 Printing and Stationery 0.69 0.65

Description of Capitals
20,592.69 15,496.64 Electricity and Water Charges 25.94 8.53

Capital Stores A Bank Charges 0.09 0.01

Balance as at beginning of the year 4,713.35 2,681.67 Technical Assistance Fees 0.62 2.31

Add: Additions during the year 5,455.56 4,708.43 Exchange Fluctuation 67.67 0.18

Less: Transfer to Statement of Profit and Loss 0.02 0.03 Finance Costs 204.76 3.16

Board of Directors, etc.

Less: Other Allocation/ Adjustment during the year 4,551.53 2,676.72 Depreciation and Amortization on:

5,617.36 4,713.35 Tangible Assets 37.64 8.22

Less: Provision for Capital Losses 12.74 7.60 Intangible Assets 0.03 0.01

5,604.62 4,705.75 Start Up/ Trial Run Expenses (net of revenue) (10.15) -

Capital Goods in Transit Others 66.16 47.87

Directors’ Report
Balance as at beginning of the year 1,049.95 1,037.14 Total Expenses 1,009.73 510.56

Add: Additions during the year 584.61 93.97 Less : Recoveries 23.99 10.94

Less: Transfer to Property, Plant and Equipment as Additions (Note 2) 14.45 32.08 Net Expenditure during the year 985.74 499.62

Less: Other Allocation/ Adjustment during the year 1,008.16 49.08

Discussion & Analysis

611.95 1,049.95

Management’s
Construction Period Expenses pending allocation:
Balance as at beginning of the year 908.18 675.88
Add: Net expenditure during the year (Note - 2.2) 985.74 499.62
1,893.92 1,175.50

Responsibility Report
Less: Transfer to Statement of Profit and Loss 4.04 10.75

Business
Less: Other Allocation/ Adjustment during the year 565.04 256.57
1,324.84 908.18
TOTAL 28,134.10 22,160.52
A. Includes Stock lying with Contractors 466.13 191.06

Corporate Governance
B. Includes Capital Expenditure relating to ongoing Oil & Gas
226.28 122.28
Exploration & Production activities.

Report on
C. Specific borrowing eligible for capitalisation (Rate) 5.66% to 8.12% 5.75% to 8.12%

Financial Statements
Standalone
192 Financial Statements Financial Statements 193