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 - 2.2 : CONSTRUCTION PERIOD EXPENSES(NET) DURING THE YEAR Note - 3 : INTANGIBLE ASSETS
(₹ in Crore)
Current Year
Particulars March 31, 2020 March 31, 2019 (₹ in Crore)

Chairman’s Desk
Computer

From the
Employee Benefit Expenses 399.41 370.46 Right of Way Licenses Total
Software
Repairs and Maintenance 4.12 5.28
Gross Block as at April 1, 2019 613.18 2,479.53 196.75 3,289.46

GROSS BLOCK
Power & Fuel 163.09 35.41
Additions during the year 306.39 8.36 40.55 355.30
Rent 8.36 6.80
Transfers from Intangible Assets under Development - 318.02 18.09 336.11
Insurance 10.14 7.44

About IndianOil
Disposals/ Deductions / Transfers / Reclassifications/ FCTR - 149.20 (3.76) 145.44
Rates and Taxes 3.19 3.86
Gross Block as at March 31, 2020 (Refer C) 919.57 2,955.11 251.63 4,126.31
Travelling Expenses 57.49 40.54
Total Amortisation as at April 1, 2019 9.36 323.58 110.64 443.58

DEPRECIATION, AMORTISATION
Communication Expenses 1.63 1.22
Amortisation during the year 5.01 257.90 58.57 321.48
Printing and Stationery 0.69 0.65

AND IMPAIRMENT

Description of Capitals
Disposals/ Deductions / Transfers / Reclassifications/ FCTR - 26.54 (0.20) 26.34
Electricity and Water Charges 25.94 8.53
Total Amortisation as at March 31, 2020 14.37 608.02 169.01 791.40
Bank Charges 0.09 0.01
Technical Assistance Fees 0.62 2.31 Total Impairment as at April 1, 2019 0.27 - 0.01 0.28

Exchange Fluctuation 67.67 0.18 Impairment Loss during the year - 365.24 - 365.24

Finance Costs 233.95 44.71 Impairment Loss reversed during the year - 24.60 - 24.60

Board of Directors, etc.

Depreciation and Amortization on: Total Impairment as at March 31, 2020 0.27 389.84 0.01 390.12
Tangible Assets 29.55 8.22 Net Block as at March 31, 2020 904.93 1,957.25 82.61 2,944.79
Intangible Assets 0.03 0.01
Previous Year
Start Up/ Trial Run Expenses (net of revenue) (10.15) - (₹ in Crore)
Others 66.16 47.87 Computer
Right of Way Licenses Total
Software

Directors’ Report
Total Expenses 1,061.98 583.50
Gross Block as at April 1, 2018 319.82 810.16 120.54 1,250.52
Less : Recoveries 23.99 10.94

Gross Block
Additions during the year 293.36 1,632.54 23.47 1,949.37
Net Expenditure during the year 1,037.99 572.56
Transfers from Intangible Assets under Development - 36.00 67.55 103.55
Disposals/ Deductions / Transfers / Reclassifications/ FCTR - 0.83 (14.81) (13.98)

Discussion & Analysis

Gross Block as at March 31, 2019 613.18 2,479.53 196.75 3,289.46

Management’s
Amortisation as at April 1, 2018 2.99 108.83 73.88 185.70

DEPRECIATION, AMORTISATION
Amortisation during the year 6.37 216.48 43.54 266.39

AND IMPAIRMENT
Disposals/ Deductions / Transfers / Reclassifications/ FCTR - (1.73) (6.78) (8.51)

Amortisation as at March 31, 2019 9.36 323.58 110.64 443.58

Responsibility Report
Impairment Losss as at April 1, 2018 0.27 - 0.01 0.28

Business
Impairment Loss during the year - - - -

Impairment Loss reversed during the year - - - -

Impairment Loss as at March 31, 2019 0.27 - 0.01 0.28

Corporate Governance
Net Block as at March 31, 2019 603.55 2,155.95 86.10 2,845.60

Report on
A. Amortisation for the year includes ₹ 0.03 crore (2019: ₹ 0.01 crore) relating to construction period expenses taken to
Note 2.2
B. Additions to Gross Block includes: Net Block of Intangible assets with indefinite useful lifeGiatiumquam cor aut fuga.

Financial Statements
March 31, 2020 March 31, 2019

Consolidated
Right of Way 893.04 586.65

Right of way for laying pipelines are acquired on a perpetual basis.

328 Financial Statements Financial Statements 329