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 - 8 : OTHER ASSETS (NON FINANCIAL) (Unsecured, Considered Good unless Note - 9 : INVENTORIES
otherwise stated) (₹ in Crore)
(₹ in Crore)
Particulars March 31, 2020 March 31, 2019
Non Current Current

Chairman’s Desk
Particulars

From the
March 31, 2020 March 31, 2019 March 31, 2020 March 31, 2019 In Hand :

Advances for Capital Expenditure Raw Materials 15,185.55 19,638.15

To Others Stock in Process 5,713.98 6,366.96

Secured, Considered Good 10.42 3.20 - - Finished Products 27,537.00 25,015.10

Stock in Trade 6,474.69 8,144.61

About IndianOil
Unsecured, Considered Good 1,280.98 1,484.48 - -
Unsecured, Considered Doubtful - 0.09 - - Stores, Spares etc. 4,752.28 4,219.20

1,291.40 1,487.77 - - Less : Provision for Losses 224.88 205.69

Less: Provision for Doubtful Advances - 0.09 - - 4,527.40 4,013.51

1,291.40 1,487.68 - - Barrels and Tins 63.18 74.84

Description of Capitals
Advances Recoverable 59,501.80 63,253.17

From Related Parties In Transit :

Unsecured, Considered Good 486.23 264.05 22.49 22.48 Raw Materials 4,913.47 10,889.93

From Others Finished Products 599.11 938.27

Secured, Considered Good - - 0.01 - Stock in Trade 1,775.24 1,808.23

Board of Directors, etc.

Unsecured, Considered Good 0.28 - 2,576.57 2,668.30 Stores, Spares etc. 221.14 236.88

Unsecured, Considered Doubtful - - 6.76 4.96 7,508.96 13,873.31

0.28 - 2,583.34 2,673.26 TOTAL 67,010.76 77,126.48

Less : Provision for Doubtful Advances - - 6.76 4.96 Amount of write down of inventories carried at NRV and recognised as Expense. 1,455.71 460.99

0.28 - 2,576.58 2,668.30 Amount of write down of inventories carried at NRV and recognised as Exceptional Item. 11,304.64

Directors’ Report
486.51 264.05 2,599.07 2,690.78 Valuation of inventories are done as per point no. 7 of significant accounting policies (Note - 1).

Claims Recoverable: For hypothecation details refer Note-21.

From Related Parties

Unsecured, Considered Good - - 8.22 1.99 Note - 10 : TRADE RECEIVABLES (At amortised cost)
Unsecured, Considered Doubtful - - 2.61 2.61 (₹ in Crore)

Discussion & Analysis

Management’s
- - 10.83 4.60 Particulars March 31, 2020 March 31, 2019

From Others From Related Parties

Unsecured, Considered Good - - 759.86 916.75 Unsecured, Considered Good 167.23 181.82

Unsecured, Considered Doubtful - - 149.89 170.06 167.23 181.82

Responsibility Report
- - 909.75 1,086.81 From Others

Less : Provision for Doubtful Claims - - 152.50 172.67 Secured Considered Good 13.64 149.65

Business
- - 757.25 914.14 Unsecured, Considered Good 13,091.48 15,492.89
768.08 918.74 Credit Impaired 134.77 139.68
Balance/ Deposits with Government Authorities 13,239.89 15,782.22

Corporate Governance
Unsecured, Considered Good - - 453.25 478.32 TOTAL 13,407.12 15,964.04

Report on
Less : Allowance for Doubtful Debts 147.64 156.51
Gold / Other Precious Metals - - 67.92 69.00 TOTAL 13,259.48 15,807.53
Less : Provision for Diminution in value - - 10.72 11.47
- - 57.20 57.53

Financial Statements
Deferred Expenses 1,057.25 743.10 299.16 180.19

Consolidated
Prepaid Rentals 52.66 1,448.40 7.01 53.97
Others - - 14.83 0.36
TOTAL 2,887.82 3,943.23 4,198.60 4,379.89

338 Financial Statements Financial Statements 339