49th Annual Report 2021-22

STANDALONE BALANCE SHEET AS AT 31ST MARCH, 2022

[Rs. in Lakhs]
Particulars Note As at As at
No. 31.03.2022 31.03.2021
I ASSETS
(1) Non-current assets
(a) Property, Plant and Equipment 3 2,60,226.79 2,50,120.96
(b) Right of use asset 3 9,493.11 8,031.94
(c) Capital work-in-progress 3 1,78,735.04 1,10,941.76
(d) Other Intangible assets 4 444.85 532.88
(e) Financial Assets
(i) Investments
(a) Investment in Joint Venture 5 41,400.00 41,400.00
(b) Other Investments 6 1,67,801.13 1,62,991.35
(ii) Loans 7 70.87 94.12
(iii) Other Financial assets 8 2,468.93 2,361.86
(f) Non-Current Tax Assets (Net) 9 17,164.13 10,824.20
(g) Other non-current assets 10 11,048.81 19,582.92
Total Non - current assets 6,88,853.66 6,06,881.99
(2) Current assets
(a) Inventories 11 35,313.69 22,572.25
(b) Financial Assets
(i) Other Investments 6 2,273.30 5,142.89
(ii) Trade receivables 12 30,264.19 28,897.01
(iii) Cash and cash equivalents 13 29,771.28 35,520.94
(iv) Bank balance other than (iii) above 14 191.12 176.97
(v) Loans 7 5,121.81 7,650.64
(vi) Other Financial assets 8 1,559.83 2,308.63
(c) Other current assets 10 4,908.72 6,588.66
Total Current assets 1,09,403.94 1,08,857.99
TOTAL ASSETS 7,98,257.60 7,15,739.98
General Information 1
Significant Accounting Policies 2
See accompanying notes forming part of financial statements. 3-49
As per our attached Report of even date. For and on behalf of the Board
For K. C. Mehta & Co. Harshad R. Patel, IAS Pankaj Kumar, IAS
Chartered Accountants Managing Director Chairman
Firm Reg. No. : 106237W DIN No. : 08101424 DIN No. : 00267528
Pritesh Amin Vinayak Kudtarkar S. S. Bhatt
Partner General Manager (Finance) & Company Secretary &
Membership No. 105926 Chief Financial Officer Chief General Manager
(Legal & CC)
Place : Gandhinagar
Date : 24th May, 2022

114
 Gujarat Alkalies and Chemicals Limited

STANDALONE BALANCE SHEET AS AT 31ST MARCH, 2022

(Contd.)
[Rs. in Lakhs]
Particulars Note As at As at
No. 31.03.2022 31.03.2021
II EQUITY AND LIABILITIES
(1) EQUITY
(a) Equity Share capital 15 7,343.84 7,343.84
(b) Other Equity 16 5,83,101.43 5,30,415.02
Total Equity 5,90,445.27 5,37,758.86
(2) LIABILITIES
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings 17 54,896.22 43,330.68
(ii) Lease Liabilities 18 67.24 68.12
(b) Provisions 19 14,901.52 11,252.57
(c) Deferred tax liabilities (Net) 20 64,438.40 62,186.35
Total Non-current liabilities 1,34,303.38 1,16,837.72
Current Liabilities
(a) Financial Liabilities
(i) Borrowings 17 4,437.45 6,361.41
(ii) Lease Liabilities 18 6.11 6.19
(iii) Trade payables
(a) Total outstanding dues of micro enterprises and
small enterprises 21 2,632.39 3,826.04
(b) Total outstanding dues of creditors other than
micro enterprises and small enterprises 21 32,645.68 24,506.01
(iv) Other financial liabilities 22 22,877.02 20,799.64
(b) Other current liabilities 23 7,078.75 2,291.79
(c) Provisions 19 1,763.11 1,283.88
(d) Current Tax Liabilities (Net) 9 2,068.44 2,068.44
Total Current Liabilities 73,508.95 61,143.40
Total Liabilities 2,07,812.33 1,77,981.12
TOTAL EQUITY AND LIABILITIES 7,98,257.60 7,15,739.98
General Information 1
Significant Accounting Policies 2

See accompanying notes forming part of financial statements. 3-49

As per our attached Report of even date. For and on behalf of the Board
For K. C. Mehta & Co. Harshad R. Patel, IAS Pankaj Kumar, IAS
Chartered Accountants Managing Director Chairman
Firm Reg. No. : 106237W DIN No. : 08101424 DIN No. : 00267528
Pritesh Amin Vinayak Kudtarkar S. S. Bhatt
Partner General Manager (Finance) & Company Secretary &
Membership No. 105926 Chief Financial Officer Chief General Manager
(Legal & CC)
Place : Gandhinagar
Date : 24th May, 2022

115
 49th Annual Report 2021-22

STANDALONE STATEMENT OF PROFIT AND LOSS FOR THE

YEAR ENDED 31ST MARCH, 2022 [Rs. in Lakhs]
Particulars Note Year Ended Year Ended
No. 31.03.2022 31.03.2021
I. Revenue from operations 24 3,75,873.59 2,42,948.06
II. Other Income 25 4,638.98 6,745.70
III. Total Income (I + II) 380,512.57 2,49,693.76
IV. Expenses:
Cost of materials consumed 26 1,27,854.17 92,620.03
Purchase of Stock-in-Trade 513.14 1,657.13
Changes in inventories of finished goods, stock-in-trade and work-in-progress 27 (306.34) (836.16)
Employee benefits expense 28 27,193.41 23,319.66
Finance costs 29 614.63 1,546.16
Depreciation and amortisation expense 30 19,778.39 17,436.06
Power, Fuel & Other Utilities 31 73,904.94 49,607.54
Other expenses 32 48,097.28 40,762.92
Total Expenses 2,97,649.62 2,26,113.34
V. Profit before Tax (III - IV) 82,862.95 23,580.42
VI. Tax expense 33
(a) Current tax 26,946.97 5,661.72
(b) Deferred tax (456.44) 1,682.26
(c) Net Tax Adjustment of earlier year 174.35 (448.64)
26,664.88 6,895.34
VII. Profit for the year ( V - VI ) 56,198.07 16,685.08
VIII. Other Comprehensive Income
Items that will not be reclassified to profit or loss
Acturial Gain / (Loss) on Gratuity (2,157.80) (251.89)
Deferred Tax Assets / (liabilities) on defined benefit obligation - Gratuity 754.02 88.02
Investment adjustment - FVTOCI 4,809.78 74,609.05
Deferred Tax Assets / (liabilities) on net fair value gain on
investment in equity instruments at FVTOCI (1,042.71) (7,246.86)
Total Other Comprehensive Income (VIII) 2,363.29 67,198.32
IX. Total Comprehensive Income ( VII + VIII ) 58,561.36 83,883.40
X. Earning per equity share (face value Rs.10/-each): 34
(1) Basic (Rs.) 76.53 22.72
(2) Diluted (Rs.) 76.53 22.72

General Information 1
Significant Accounting Policies 2

See accompanying notes forming part of financial statements. 3-49

As per our attached Report of even date. For and on behalf of the Board
For K. C. Mehta & Co. Harshad R. Patel, IAS Pankaj Kumar, IAS
Chartered Accountants Managing Director Chairman
Firm Reg. No. : 106237W DIN No. : 08101424 DIN No. : 00267528
Pritesh Amin Vinayak Kudtarkar S. S. Bhatt
Partner General Manager (Finance) & Company Secretary &
Membership No. 105926 Chief Financial Officer Chief General Manager
(Legal & CC)
Place : Gandhinagar
Date : 24th May, 2022

116
 Gujarat Alkalies and Chemicals Limited

STANDALONE STATEMENT OF CASH FLOW

FOR THE YEAR ENDED 31ST MARCH, 2022 [Rs. in Lakhs]
Particulars 2021-22 2020-21
A Cash Flow from Operating Activities 73,483.16 42,117.23
B Cash Flow from Investing Activities (80,543.47) (33,244.83)
C Cash Flow from Financing Activities 1,174.42 22,606.65
D Effect of unrealised exchange differences on translation of
foreign currency cash and cash equivalents 136.23 (197.12)
E Cash and Cash Equivalents at the beginning of the year 35,520.94 4,239.01
F Cash and Cash Equivalents at the end of the year 29,771.28 35,520.94
G Total Cash Flow During the year (A+B+C+D) Or (F-E) (5,749.66) 31,281.93
A CASH FLOW FROM OPERATING ACTIVITIES :
Net Profit / (Loss) Before Tax 82,862.95 23,580.42
Adjustments For :
Addition / (Deduction)
Depreciation and Amortisation Expenses 19,778.39 17,436.06
Interest Income (1,694.33) (4,472.36)
Dividend Received (1,918.93) (1,574.60)
Interest Expense 614.63 819.84
Net (Profit) / Loss on Sale of Property Plant & Equipment 40.94 31.96
Net (Gain) / Loss arising from Financial Assets designated as FVTPL (962.56) 2,253.92
Unrealised exchange (gain)/loss 22.46 (57.09)
Provision for Expected credit loss allowances 31.93 342.11
Provision for Gratuity/Leave 2,189.95 826.47
Stores and Spares W/off 805.36 66.96
Sub Total 18,907.84 15,673.27
Operating Profit Before Working Capital Changes 1,01,770.79 39,253.69
Decrease or (Increase) in Assets :
Trade Receivables (1,441.07) 8,139.42
Loans 52.08 68.11
Other Assets 1,617.98 (206.13)
Other Financial Assets 352.79 (879.94)
Inventories (13,546.80) 988.23
Increase / (Decrease) in Liabilities :
Trade Payables and Other Current Liabilities 11,795.08 (2,008.14)
Provisions 151.59 192.51
Other Financial Liabilities 3,772.17 1,873.49
Cash Generated from Operations Before Tax 1,04,524.61 47,421.24
Direct Taxes Paid (31,041.45) (5,304.01)
Net Cash Flow generated from Operating Activities : ( Total - A ) 73,483.16 42,117.23

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 49th Annual Report 2021-22

STANDALONE STATEMENT OF CASH FLOW

FOR THE YEAR ENDED 31ST MARCH, 2022 (Contd.) [Rs. in Lakhs]
Particulars 2021-22 2020-21
B CASH FLOW FROM INVESTING ACTIVITIES :
Payment for Property, Plant & Equipment (31,312.11) (15,692.24)
Payment for Intangible Assets (16.21) (58.88)
Proceeds from disposal of Property, Plant & Equipment 110.50 350.64
Payment for Capital Work-in-progress (59,559.88) (63,714.97)
Payment for Investment in Joint Venture - (5,400.00)
Payment for Investments - (21,006.05)
Proceed from Sale of Investment 3,832.13 11,730.39
Interest Received 1,983.27 5,471.68
Dividend Received 1,918.93 1,574.60
Proceeds/Payment for Deposit (0.10) -
Proceeds/Payment for Short Term Deposits 2,500.00 53,500.00
Net Cash used in Investment Activities - (Total - B) (80,543.47) (33,244.83)
C CASH FLOW FROM FINANCING ACTIVITIES :
Interest and Finance charges paid (596.47) (871.15)
Dividend paid (5,889.00) (5,888.07)
Unpaid Dividend 14.05 13.12
Proceeds from Non-Current Borrowings 13,812.50 36,054.17
Repayment of Non-Current Borrowings (6,285.07) (6,506.50)
Proceeds/Repayment from/of Current Borrowings (Net) 125.05 (188.28)
Repayment of Lease Liabilities (0.95) (6.64)
Repayment of Lease Liabilities - Interest (5.69) -
Net Cash used in Financing Activities - (Total - C) 1,174.42 22,606.65
D EFFECT OF UNREALISED EXCHANGE DIFFERENCES ON TRANSLATION
OF FOREIGN CURRENCY CASH AND CASH EQUIVALENTS 136.23 (197.12)
E CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR :
Cash and Cheques on Hand 3.34 3.51
Balances with Banks 2,517.60 4,235.50
Balances with Financial Institution 33,000.00 -
Net Cash and Cash Equivalents at the beginning of the year (Total - E) 35,520.94 4,239.01
F CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR :
Cash and Cheques on Hand 3.61 3.34
Balances with Banks 4,767.67 2,517.60
Balances with Financial Institution 25,000.00 33,000.00
Net Cash and Cash Equivalents at the end of the year (Total - F) 29,771.28 35,520.94
G TOTAL CASH FLOW DURING THE YEAR (A+B+C+D) OR (F-E) (5,749.66) 31,281.93
Note :-
1 The Cash Flow Statement has been prepared under the ‘Indirect Method’ set out in Ind AS -7 “Statement of Cash Flows”.
2 Changes in liability arising from financial activities:
Long term Borrowings 2021-22 2020-21
Opening Balance 49,666.88 20,267.63
Cash in flow - Receipt of New Borrowings 13,812.50 36,054.17
Cash out Flow - Repayment of Borrowings (6,285.07) (6,506.50)
Foreign Exchange and non-cash movement (net off) 1,989.10 (148.42)
Closing Balance 59,183.41 49,666.88
3 Previous Year’s figures have been regrouped / rearranged to confirm to the current years presentation, wherever necessary.
See accompanying notes forming part of financial statements. 1-49.
As per our attached Report of even date. For and on behalf of the Board
For K. C. Mehta & Co. Harshad R. Patel, IAS Pankaj Kumar, IAS
Chartered Accountants Managing Director Chairman
Firm Reg. No. : 106237W DIN No. : 08101424 DIN No. : 00267528
Pritesh Amin Vinayak Kudtarkar S. S. Bhatt
Partner General Manager (Finance) & Company Secretary &
Membership No. 105926 Chief Financial Officer Chief General Manager
(Legal & CC)
Place : Gandhinagar
Date : 24th May, 2022
118
 Gujarat Alkalies and Chemicals Limited

STANDALONE STATEMENT OF CHANGES IN EQUITY FOR THE YEAR

ENDED 31ST MARCH, 2022
[Rs. in Lakhs]
Particulars Equity Retained Earnings Other Total Total
share Capital General Security Retained Compre- Other Equity
capital Reserve Reserve premium Earnings hensive Equity
Income -
Fair value
of equity
instrument
Balance as at April 1, 2020 7,343.84 0.24 2,21,875.08 23,423.18 1,46,157.36 60,950.71 4,52,406.57 459,750.41
Changes due to prior period errors - - - - - - - -
Restated balance as at 7,343.84 0.24 2,21,875.08 23,423.18 1,46,157.36 60,950.71 4,52,406.57 459,750.41
April 1, 2020
Profit for the year - - - - 16,685.08 - 16,685.08 16,685.08
Transfer to general reserve - - 8,342.54 - (8,342.54) - - -
Lease Financial Liabilities - - - - - - - -
Other comprehensive income for - - - - (163.87) 67,362.19 67,198.32 67,198.32
the year
Total Comprehensive income - - 8,342.54 - 8,178.67 67,362.19 83,883.40 83,883.40
for the year
Dividend - - - - (5,874.95) - (5,874.95) (5,874.95)
Dividend distribution tax - - - - - - - -
Balance as at March 31, 2021 7,343.84 0.24 2,30,217.62 23,423.18 1,48,461.08 1,28,312.90 5,30,415.02 537,758.86
Changes due to prior period errors - - - - - - - -
Restated balance as at 7,343.84 0.24 2,30,217.62 23,423.18 1,48,461.08 1,28,312.90 5,30,415.02 537,758.86
April 1, 2021
Profit for the year - - - - 56,198.07 - 56,198.07 56,198.07
Transfer to general reserve - - - - - - - -
Lease Financial Liabilities - - - - - - - -
Other comprehensive income for - - - - (1,403.78) 3,767.07 2,363.29 2,363.29
the year
Total Comprehensive - - - - 54,794.29 3,767.07 58,561.36 58,561.36
income for the year
Dividend - - - - (5,874.95) - (5,874.95) (5,874.95)
Dividend distribution tax - - - - - - - -
Balance as at March 31, 2022 7,343.84 0.24 2,30,217.62 23,423.18 1,97,380.42 1,32,079.97 5,83,101.43 5,90,445.27

As per our attached Report of even date. For and on behalf of the Board
For K. C. Mehta & Co. Harshad R. Patel, IAS Pankaj Kumar, IAS
Chartered Accountants Managing Director Chairman
Firm Reg. No. : 106237W DIN No. : 08101424 DIN No. : 00267528
Pritesh Amin Vinayak Kudtarkar S. S. Bhatt
Partner General Manager (Finance) & Company Secretary &
Membership No. 105926 Chief Financial Officer Chief General Manager
(Legal & CC)
Place : Gandhinagar
Date : 24th May, 2022

119