Integrated Annual Report 2021-22 Consolidated Balance Sheet as at March 31, 2022 Consolidated Balance Sheet Fore Note) AnNaT32002 Aeataa 2021 ISSETS Non-current assets Property, lant and equipment 2 10578.87 1138628 Capital workinpragress 2 1170.32 22827 Investment property 3 3962.98, 3605.78 Goodil 4 747698 2066.9 ter intangible assess 5 1872937 ssi97.7 Intangible assets under developmen 5 7923 0 Rightotuse assets rion) 1988.82 2001.53 Frnancialasets Investments in join ventures and asso 43) 272935 2670.26 (ther investments ‘ 7081.51 5905.14 Loans towards financing activities 7 4873624 2631.67 Cotner loans 8 25299 173.24 Other financial assets 3 216297 1470.19 5963.68 62840.50 Defevred tx asses (net su) yeso.10 2697.00 other non-curent assets 10 5077.62 5949.67 Sub-total - Non-current assets 1867.75 Irventores 5903.32 5820.54 Fanci assess Investments 2 2979251 3011.23 Trade receivables 3 a6138.92 4229.78 Cash and cash eauivalents 41377024 1373.52 (ther bank balances 5 5182.93, 2867.98 Loans towards financing activites 6 42268.20 41379.03 (ther loans 7 20.24 235.35, (ther financial assets a 3240.04 3251.68 waiar4.i8 3434857 ‘ther current assets 2 0132.89 5799.48 Substotal- Current assets 207350.39 9496059 ‘Groups of asets ssi as held forsale 4540) 330.78 624 TOTAL ASSETS 320048, 92 ETIFERII 494Svervew ssion 3d Anahse 1 Fnancal ms) Statements Consolidated Balance Sheet as at March 31, 2022 (contd.) @ ears arouse tore Note) APaR aT 202 Aaa HTa IO EQUITY AND LABIITIES: Equity Eguity sare apt 2 reroi roa other equry nn _ ness 15587.62 Equity atbutable to ones ofthe Company 2407.86 7s868.53 Non-ontaling interests 12966007 2051.52 TOTAL EQUITY 3373.72 £7970.08 Lables Non-curren ailtes Financ habiies Borrwings 2 ersie21 mire Less labiy 163331 i722 ther finances B ime7 186.78 e362.29 2924.50 Provisions 2 a7 71 Deere tx tbls (et sid 903933 1378.66 ther nomen abies 25 227 «2,70 Sub-total -Non-curren Ii rai se Tbas.s4 Carre lables Financial abies Borrowings 2s 3087696 ass Current matures of long-term borowings 7 3nns6 nea Leas lay 40654 408.10 Trade payables Due to mic enterprises and small enterprises 7531 430.99 ue to others 28 sosee22 4525628 ther fnancal labs 29660232 5170.92 saoosao2 to1965.48 xn cuentas, x0 s4sta.10 31269.62 Provsons n ass. 2398.68 Curent ax abies (ne 1300.82 i702 Sub-total Curren abilities 75s353.20 7404.81 Labiiies assoclted ith grount) of asses hse a ld for sale 3) aE a0 TOTAL LABILTIES 222675.19 Taas3.65 TOTAL EQUITY AND LIABILITIES ma ara CONTINGENT LABILTES 2 a — COMMITMENTS (apt an others) 2 NOTES FORMING PART OF THE FINANCIAL STATEMENTS tt06s ccitne ffeer& Managing Director ‘Bn eoteread) SIVARAM NAR A Company Secretary & Compliance ofcer Membersnp No, #053839 495Invegrated Annual Report 2021-22, Consolidated Statement of Prot and Loss Consolidated Statement of Profit and Loss for the year ended March 31, 2022 Rarore Note aaa 20m Tontinuing operations Income: Revenue fom operations 2 15652123 135878.03 Other income et) 3 2267.08 3429.35, Total income saree 31 EXPENSES: Manufacturing, constuction and operating expenses 36 ‘Cos of raw materia, components consumed s7100.84 1552.05, Construction materials consumed 33506,21 2455823 Purchase of stotcintrage 1069.50 121358 Sores, spares and tools consumed 3081.07 2022.89 Subcontracting charges 207733 2231618 Changes in inventories of finshed goods, work-in-rogras, Slock-insrade and sropery development (2076.60) 33.37 other manufacturing, construction and operating expenses 16322.62 12983 56 Fnance cost af financial services business and finance lease aii 5952.54 7691.04 9973851 6700.90 ployee benefits expense 7 2973353 2475054 Sales, sminisrtion an other expenses 38 3831.89 8903.45, inance costs 38 3125.70 pene Depreciation, amortisation, impairment and obsolescence 2947.95 04.21, Total Expenses TaAsTT58 Waiase Profit before exceptional items and tax 1441073 2235.80 Tax expense: sit) Currant tax 4512.08 3993.39 Deferred tax 295.48) 57.43 4716.61 4910.82 Net profit after tax (before exceptional tems) from continuing operations ToI98.12 328.58 113.79 3585.78 Tac expense on 2x sta) Current tax 27 aaa Deferred tax e 2277 Exceptional ems (net of a8) 48 96,93 Net profit after tax from continuing operations TOIT OS Share in pris) ater tax of jintventresassciates (net) 30 128.18 Profit for the yea from continuing operations Toais.24 Discontinued operations Profit before tax rom discontinued operations 45%) 4 Tax expense of discontinued operations S13) A Net profit after tax from discontinued operations Net profit after tax from continuing operations & discontinued operations ToaIS aE Other comprehensive income A Items that wil not be reclassified to profit or loss: Equity struments through Other comprehensive income - 55.05 Income tox (expenss}income on equity struments rough Other 5805 infos) on remeasurements of the net defined benefit plans 105.88 57.40 Income 10 (expansesyincome on remessuremants ofthe net defined berafiplans 2553 113.68) 038 aan Share in Other comprehensive income of jintventuesassoiates (net 56.18 6178) tems that willbe reclassified to profit of less: Debt instruments through Other comprehensive income 7951) 123.68 Income tax lexpensesincome on debt instruments tough Other Comorenensve ncome 23.02 ona) (56.48) 92.55 Carried forward - Other comprehensive income T.08 T3835 496° a Financial ® LARSEN & TOUBRO statements Svervew ssion ad Anahse Consolidated Statement of Profit and Loss for the year ended March 31, 2022 (contd) Serore Note 2 2020-71 rough Toward Other comprehensive aco Bo.08 Tass Exchange diferences in translating the financal statements of foreign ‘operations Income tax fexpensestincome on exchange aifferences in translating ‘the nancial siatements of fore gn operations par 88 Efective portion of gainsflosses) on hedging instruments ina cash ‘low hedge 426.78 Income tax fexpensestincome on effective orton of guinsiosses) on hedging instruments ina cashflow hedge (11850) size —SSSS(87.96 Cost of hedging reserve 3.06 nae Income tax (expensasyincome on cost of hedsing reserve 7 2.98) Share in Other comprehensive income of joint venturesiassocats (net) Other comprehensive income for the year (net of tax) 1854537 Total comprehensive income for the year Ta75.65 Profit forthe year atibutable to: ‘Owners ofthe Company 3669.33 1582.93 Non-contralinginceests 174995 1338.35 Tosi9.24 38 other comprehensive income fo the year atvibutable to ‘Owners ofthe Company 32938 112949 Non-controlngieests 108.97 324.88 3835 145437 “otal comprenensive income forthe year attbtable to ‘Owners ofthe Company 8998.71 2712.42 Non-contoling interests 1358.88 T0857 59 Earnings per share (EPS) of 2 each from continuing operations: Basic eamings per equity share @) 55 sir 23.82 Diluted earnings per eouty share (© 55 6165 23.80 Earnings per share (EPS) of ¢2 each from discontinued operations: Basic earnings per equity share) 38 s st.67 Diutd earnings per ecuty share) 55 s sest Earnings per share (EPS) of 2 each from continuing operations & ‘discontinued operations: Basic earnings per equity share @) 55 e171 249 Diluted earnings per eauty share) 55 61.65 evar Face value per equity share @®) 2.00 2.00 [NOTES FORMING PART OF THE FINANCIAL STATEMENTS 11065, Inte of our repor stached Finns Regisrat on No.1 7366W-100018 (Chet Execcive offer & Managing Decor by thehana | Yow 02255387) SAN ve GAONKAR Menbessis No, 29826 itole-tine Decor & Chie Financal fier Indepenaent vector {o1n c00'9798), awoorereaa SIVARAM NAIR ‘Muri May 12,2022 497Integrated Annual Report 2021-22, Consolidated Statement of changes in Equity Consolidated Statement of Changes in Equity for the year ended March 31, 2022 ‘A. Equity share capital ae 3207 Particulars Namber of Tarore Number of Tee shares shares ie, ented dy pda guy ae ouanang ate baganng ttheye «TADS S287 THOS? 1Aases2002 TE ‘id. tae sued on exes of enpyee sek options ding tne ye sud, ube an ly aid us equi shares ouancing ache en te yr 00 665275 ona 8. other equity toe ja te oe age eae Taly facie incase! alate ugh etal suey Aeted —cney Hedging trugh ugh “SYgey ani ream ineg: tn aene at ohe S9ee ree conga cate Selon sel Rises ata me an ie a ae OS 66S ON SD Fete 13s as Cte agri temeSee 8 B wigs Rue ‘Wal ogreenie came ere yd) a Ws ed iy ss as as sores, tne ee ei desig : = asi ma ‘ ape sae 8 pm mes st vidi pss) pe eins es Iowa stl ne atl wirncsinh aces 8373201 498ed Sta Financial ® LARSEN & TOUBRO statements Consolidated Statement of Changes in Equity for the year ended March 31, 2022 (contd) nn Se nt gm HE sy td wy Sa Sy nt fe sx" me oe 4 ss) es ee a Sa AE Sacro t313.202 In terms of our repor staches For BELOIT HASKINS & SELS LP Firms Regstatn No 17S66WMW-100016, Chet Execcve Offer & Managing Director bythe hana ot Ton o2255380) ANU PLGAONKAR Parner A SHANKAR AAMAN Mm. carale SIVARAM NAIR & 499Integrated Annual Report 2021-22, Consoldated Statement of Cath Flows Consolidated Statement of Cash Flows for the year ended March 31, 2022 crore woaraz___ 2020-24 1. Cash flow from operating activites Profit before tax excluding exceptional tems) from: Continuing operations s4aio.73 1223580 biscont nued operations = 10790.50 Profit before tax including discontinued operations (excluding exceptional items) T44I073__ 2302630 ‘Adjustments fo: Dividend receives (412) 8.7) Depreciation, amortisation, impalement and obsolescence 2947, 2904.21 Exchange difference on items grouped under fnancingtinvesting acti (108.09) s.47) Effect of exchange rate changes on cash and cash equivalents (4125) 7498 Unrealised (ganiloss on finance leases = (14.55) Finance costs 312570 3913.44 Invest income 1053.65) (1375.68) (Profitioss on sale of fixed assets (net) (1760) 28.81) (Proftoss on salar valuation of investments (nt) (aao.1a) 118.7) (Gainyloss on disposal of discontinued operations = (90707.92) Employee stock aption-iscount 1353113787 Non-cash items related to discontinued operations E 3.13 (Gainyoss on disposal of subs dary (165) - Irnpaiement of investment in debs instruments 1200 151.26 Inmpaitment recognised on non-curent assets held for sale Z 9.23 (Gainless on de-ecogrition of lease labiltyhigh-of-use assets ase Incerest expensesiincome) related to discontinued operations B 1.16 ‘Operating profit before working capital changes 7a95908 —16346.93 Adjustments for (increaseyidecrease in trade ard other eceivables (9833.40) 3011.81 (increase\decrease in inventories (74.33) 34880, Incteasedecrease in rade payables ans customer advances 965971 2219.78 ‘Cash generated from operations before financing activities Ta711.08 —21927.12 (Increaseyidecrease in loans and advances towards financing actvitias so046s 4617.71 ‘Cash generated from operations TaTis71_36546.83 Direct taxes refuncpaic) inet] 4552.13) 471.01) Net cash (used in)/from operating activities, 19163.58 25073.82 8. Cash flow from investing ac Purchase of fixed assets (110.63) (1807.70), Sale of fixed assets 7075 885.36 Purchase of non-current investments 2156.24) (1873.24) Sale of non-current investments 102608 240.19 (@arcnaseisle of curent investments (net) 1437.04 (16841.55) Change in other bank balance and cash not avaiable for immesiate use 272933) 688.10 Deposistoans given to associates, joint ventures and th parties (148.03) (151.59) Interest received 96855 1273.47 Dividend receive from joint ventures 1562317438 Dividend received from other investments 42 28.47 Consideration received on disposal of subsidiaries 100573 295.78 Net proceedsf(oayments} for transfer of discontinued operations (ret of tx) (952) 11530.82 Consideration paid on acquistion of subsidiaries (ras) (121.77) {Cash and cash equivalents acquired pursuant to acquisition of subsidiaries 991 707 {Cash and cash equivalents of subsicivies discharged pursuant to (divestment}cassification to hel forsale___(58.07) 13.68 Net cash (used in)/from investing activities Bes? 68) 5658.52) 500statements ° a Financial ® LARSEN & TOUBRO Consolidated Statement of Cash Flows for the year ended March 31, 2022 (contd.) crore ora 2020-21 © Gash flow from financing activites Proceeds fom issue of share capital (cluding share application money) [net 1097 15.85 Proceeds ftom non-cuttent borrowings [Nate $0] 24654.13 3258.60 Repayment of non-current borrowings [Note 50 (5806.44) 28838.86) Proceeds from/repayment of ther borrowings inet (Note 50) 2739.13 (615120) Payment (ofom non-controling interest (net (101959) 796.02 Settlement of derivative contacts related to borrowings 143.82 66.73 Dividends paid (2528.38) (3650.89) Repayment of lease Habit [Note 50] (40720) (381.64) Interest pid on lease failty (15559) (20357) Interest paid including cashflows on account of interest rate swaps) 2812.33) (3184.42) [Net cash (used in)/from financing activities Gistsi.4s)_(15274.38) [Net (decrease)/increase in cash and cash equivalents (A + 8 + C) 31442 2140.82 ‘Cash and cash equivalents at beginning of the year [Note 14] 9337352 1132457 Effect of exchange rate changes on cash and cash equivalents 3230 (80.11) ‘Cash and cash equivalents for discontinued operations (clasified as held for sale) x (1.38) ‘Cash and cash equivalents at end of the year [Note 14] qav7oaa 15373 52 1. Statement of Ch Flaws hasbeen prepared under the indirect method se set out inthe Ian Accounting Standard ind AS) 7 “Statement of Cash Flows” a5 specie in the Companies nd an Accounting Standards) Rules, 2015, 2. fired ase include property, lant and equipment, investment oroperty and intangible assets adjusted for movement of a capital work-in-progress for propery, plant and eaulsment and investment property and (0) Intanalbe asses underdevelopment during the Yeo. 3. Previous year's figures have been regroupedecastedwinerever applicable hed ‘Chartered Accountants — 5. N. SUBRARMANYAN Finns Regia No 173660 Chie execvive Offer & Managing Decor bythe hana ot Tow on2ss3ai1 Membership No, 39826 \ihole-time Director & Chet Finarcal OFfcer Indecent {DIN 00078788), BIN corte Company Secetay& Compliance ofcer Memoeriip No, #53839