FINANCIAL STATEMENTS STANDALONE

BALANCE SHEET
AS AT 31 MARCH 2020

` in crores
As at As at
Notes
31 March 2020 31 March 2019*
I ASSETS
Non-current assets
(a) Property, plant and equipment 4 46,117 51,600
(b) Capital work-in-progress 5 23,810 10,099
(c) Right of use 6 4,102 -
(d) Intangible assets 7 323 172
(e) Intangible assets under development 331 344
(f) Investments in subsidiaries, associates and joint ventures 8 4,757 3,980
(g) Financial assets
(i) Investments 9 1,242 1,417
(ii) Loans 10 8,705 7,675
(iii) Other financial assets 11 562 48
(h) Current tax assets (net) 340 217
(i) Other non-current assets 12 2,378 3,475
Total non-current assets 92,667 79,027
Current assets
(a) Inventories 13 9,623 10,815
(b) Financial assets
(i) Trade receivables 14 3,166 6,770
(ii) Cash and cash equivalents 15 3,438 5,366
(iii) Bank balances other than (ii) above 16 7,963 447
(iv) Loans 10 321 136
(v) Derivative Assets 17 275 229
(vi) Other financial assets 11 2,794 2,644
(c) Other current assets 12 1,795 1,991
Total current assets 29,375 28,398
Total assets 122,042 107,425
II EQUITY AND LIABILITIES
Equity
(a) Equity share capital 18 301 301
(b) Other equity 19 38,061 34,592
Total equity 38,362 34,893
Non-current liabilities
(a) Financial liabilities
(i) Borrowings 20 39,247 27,666
(ii) Lease liabilities 6 2,716 -
(iii) Derivative liabilities 27 130 -
(iv) Other financial liabilities 21 1,308 1,030
(b) Provisions 22 322 235
(c) Deferred tax liabilities (net) 23 1,315 3,331
(d) Other non-current liabilities 24 3,048 4,083
Total non-current liabilities 48,086 36,345
Current liabilities
(a) Financial liabilities
(i) Borrowings 25 6,813 5,371
(ii) Trade payables 26
(a) Total outstanding, dues of micro and small enterprises 56 31
(b) Total outstanding, dues of creditors other than micro and small 13,298 13,097
enterprises
(iii) Derivative Liabilities 27 189 332
(iv) Other financial liabilities 28 11,980 15,471
(v) Lease liabilities 6 773
(b) Provisions 22 64 53
(c) Other current liabilities 29 2,302 1,639
(d) Current tax liabilities (net) 119 193
Total current liabilities 35,594 36,187
Total liabilities 83,680 72,532
Total equity and liabilities 122,042 107,425
*Restated pursuant to merger (refer note 52)

See accompanying notes to the Standalone Financial Statements

As per our report of even date
For S R B C & CO LLP For and on behalf of Board of Directors
Chartered Accountants
ICAI Firm Reg. No.: 324982E/E300003

per VIKRAM MEHTA RAJEEV PAI SAJJAN JINDAL

Partner Chief Financial Officer Chairman & Managing Director
Membership No.: 105938 DIN 00017762

LANCY VARGHESE SESHAGIRI RAO M. V. S

Place: Mumbai Company Secretary Jt. Managing Director & Group CFO
Date: 22 May 2020 ICSI Membership No.: FCS 9407 DIN 00029136
Place: Mumbai
Date: 22 May 2020

158
 CORPORATE OVERVIEW 2-8 STATUTORY REPORTS 9-146

STATEMENT OF PROFIT AND LOSS

FOR THE YEAR ENDED 31 MARCH 2020

` in crores
For the year ended For the year ended
Notes
31 March 2020 31 March 2019*
I Revenue from operations 63,546 77,187
Fees for assignment of procurement contract 250 -
Government grant income – VAT/GST incentive relating to earlier years 466 -
Total Revenue from operations 30 64,262 77,187
II Other income 31 628 405
III Total income (I + II) 64,890 77,592
IV Expenses:
Cost of materials consumed 33,073 39,179
Purchases of stock-in-trade 420 499
Changes in inventories of finished goods and work-in-progress 32 (27) (180)
Employee benefits expense 33 1,496 1,435
Finance costs 34 4,022 3,789
Depreciation and amortisation expense 35 3,522 3,421
Other expenses 36 16,783 17,742
Total expenses 59,289 65,885
V Profit before exceptional items and tax (III-IV) 5,601 11,707
VI Exceptional Items 51 1,309 -
VII Profit before tax (V-VI) 4,292 11,707
VIII Tax expense/(credit): 23
Current tax 789 2,356
Deferred tax (1,788) 1,230
(999) 3,586
IX Profit for the year (VII-VIII) 5,291 8,121
X Other comprehensive income
A i) Items that will not be reclassified to profit and loss
(a) Re-measurements of the defined benefit plans (19) (15)
(b) Equity instruments through other comprehensive income (255) 4
ii) Income tax relating to items that will not be reclassified to profit and loss 6 5
Total (A) (268) (6)
B i) Items that will be reclassified to profit and loss
(a) The effective portion of gains and loss on hedging instruments (719) 31
(b) Changes in Foreign Currency Monetary Item translation difference account 87 (50)
(FCMITDA)
ii) Income tax relating to items that will be reclassified to profit and loss 221 7
Total (B) (411) (12)
Total Other comprehensive income/(loss) (A+B) (679) (18)
XI Total comprehensive income/(loss) (IX + X) 4,612 8,103
XII Earnings per equity share of ` 1 each 38
Basic (in `) 22.03 33.77
Diluted (in `) 21.89 33.60
* Restated pursuant to merger (refer note 52)

See accompanying notes to the Standalone Financial Statements

As per our report of even date
For S R B C & CO LLP For and on behalf of Board of Directors
Chartered Accountants
ICAI Firm Reg. No.: 324982E/E300003

per VIKRAM MEHTA RAJEEV PAI SAJJAN JINDAL

Partner Chief Financial Officer Chairman & Managing Director
Membership No.: 105938 DIN 00017762

LANCY VARGHESE SESHAGIRI RAO M. V. S

Place: Mumbai Company Secretary Jt. Managing Director & Group CFO
Date: 22 May 2020 ICSI Membership No.: FCS 9407 DIN 00029136
Place: Mumbai
Date: 22 May 2020

JSW STEEL LIMITED | ANNUAL REPORT 2019-20 159