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 – 1B : SIGNIFICANT ACCOUNTING ESTIMATES & JUDGEMENTS Note - 2 : “PROPERTY, PLANT AND EQUIPMENT”
impairment losses wherein the Company uses judgement Current Year
in considering the probability of default upon initial (₹ in Crore)

Chairman’s Desk
recognition and whether there has been a significant Drainage,

From the
Sewage Right
Land - Land - Buildings, Plant and Office Transport Furniture Railway Producing
increase in credit risk on an ongoing basis throughout Freehold Leasehold Roads Equipment Equipments Equipment & Fixtures Sidings
and Water
Properties
of Use Total
Supply Assets
each reporting period. Also refer Note-40 for impairment etc.
System
analysis and provision. (Refer (Refer (Refer
(Refer J)
A&F) A&F) B&F)
Income Taxes
Gross Block as at
2,962.33 410.57 13,355.12 1,21,787.62 1,434.71 63.21 616.99 164.17 1,232.02 195.91 - 1,42,222.65
The Company uses estimates and judgements based April 1, 2019

About IndianOil
on the relevant facts, circumstances, present and past Additions during
657.73 - 193.29 3,829.21 218.29 7.88 46.43 5.96 44.13 - 6,319.95 11,322.87
the year
experience, rulings, and new pronouncements while

GROSS BLOCK
determining the provision for income tax. A deferred tax Transfers from
construction - - 1,753.42 10,449.77 278.23 11.69 53.64 13.89 0.46 4.07 - 12,565.17
asset is recognised to the extent that it is probable that work-in-progress
future taxable profit will be available against which the Disposals/
deductible temporary differences and tax losses can be Deductions
(102.40) (410.57) (282.55) (4,570.20) (101.52) (3.92) (13.53) (0.37) (0.04) - 4,380.20 (1,104.90)

Description of Capitals
/ Transfers /
utilised. Reclassifications

Gross Block as at
3,517.66 - 15,019.28 1,31,496.40 1,829.71 78.86 703.53 183.65 1,276.57 199.98 10,700.15 1,65,005.79
March 31, 2020

Depreciation &
Amortisation as at - 13.89 2,318.02 21,352.04 725.15 24.91 249.39 35.43 157.02 15.58 - 24,891.43

DEPRECIATION & AMORTISATION

April 1, 2019

Depreciation &
Amortisation during - - 718.21 6,592.63 284.37 7.57 71.69 13.50 48.88 11.10 921.42 8,669.37

Board of Directors, etc.

the year (Refer D)

Disposals/
Deductions
- (13.89) (8.13) (875.11) (70.64) (1.67) (6.62) (0.02) - - 668.31 (307.77)
/ Transfers /
Reclassifications

Depreciation &
Amortisation as at - - 3,028.10 27,069.56 938.88 30.81 314.46 48.91 205.90 26.68 1,589.73 33,253.03
March 31, 2020

Net Block as at
3,517.66 - 11,991.18 1,04,426.84 890.83 48.05 389.07 134.74 1,070.67 173.30 9,110.42 1,31,752.76

Directors’ Report
March 31, 2020

Previous Year
(₹ in Crore)
Drainage,
Sewage Right
Land - Land - Buildings, Plant and Office Transport Furniture Railway Producing
and Water of Use Total
Freehold Leasehold Roads etc. Equipment Equipments Equipment & Fixtures Sidings Properties

Discussion & Analysis

Supply Assets
System

Management’s
Gross Block as at
2,846.26 287.34 11,553.44 1,12,687.61 1,063.08 57.00 529.87 142.36 1,118.95 178.23 - 1,30,464.14
April 1, 2018

Additions during
162.36 111.35 274.56 5,626.22 382.42 9.29 47.33 0.74 27.11 - - 6,641.38
the year

GROSS BLOCK
Transfers from
construction work-in- - 20.81 1,631.16 4,553.59 119.03 0.45 50.47 21.04 86.49 17.68 - 6,500.72
progress

Responsibility Report
Disposals/ Deductions
/ Transfers / (46.29) (8.93) (104.04) (1,079.80) (129.82) (3.53) (10.68) 0.03 (0.53) - - (1,383.59)

Business
Reclassifications

Gross Block as at
2,962.33 410.57 13,355.12 1,21,787.62 1,434.71 63.21 616.99 164.17 1,232.02 195.91 - 1,42,222.65
March 31, 2019

Depreciation &

DEPRECIATION & AMORTISATION

Amortisation as at - 17.69 1,703.20 14,988.59 526.91 20.12 179.94 27.43 110.33 2.28 - 17,576.49
April 1, 2018

Corporate Governance
Depreciation &
Amortisation during - 4.87 636.36 6,398.00 234.20 7.05 68.18 10.15 46.69 13.30 - 7,418.80

Report on
the year (Refer D)

Disposals/ Deductions
/ Transfers / - (8.67) (21.54) (34.55) (35.96) (2.26) 1.27 (2.15) - - - (103.86)
Reclassifications

Depreciation &
Amortisation as at - 13.89 2,318.02 21,352.04 725.15 24.91 249.39 35.43 157.02 15.58 - 24,891.43
March 31, 2019

Financial Statements
Standalone
Net Block as at
2,962.33 396.68 11,037.10 1,00,435.58 709.56 38.30 367.60 128.74 1,075.00 180.33 - 1,17,331.22
March 31, 2019

188 Financial Statements Financial Statements 189