CONSOLIDATED BALANCE SHEET

for the year ended March 31, 2020

Note PageAs at March 31, 2020

Assets
I Non-current assets
(a) Property, plant and equipment 3 344 1,19,503.98
(b) Capital work-in-progress 18,862.06
(c) Right-of-use assets 5 349 8,549.78
(d) Goodwill on consolidation 6 350 4,054.53
(e) Other intangible assets 7 351 2,442.37
(f ) Intangible assets under development 634.77
(g) Equity accounted investments 8 353 2,168.54
(h) Financial assets
(i) Investments 9 355 684.77
(ii) Loans 10 356 488.71
(iii) Derivative assets 279.64
(iv) Other financial assets 11 357 588.93
(i) Retirement benefit assets 12 358 27,278.45
(j) Non-current tax assets 1,725.67
(k) Deferred tax assets 13 360 1,270.33
(l) Other assets 14 364 3,154.20
Total non-current assets 1,91,686.73
II Current assets
(a) Inventories 15 365 31,068.72
(b) Financial assets
(i) Investments 9 355 3,431.87
(ii) Trade receivables 16 366 7,884.91
(iii) Cash and cash equivalents 17 367 7,541.96
(iv) Other balances with banks 18 368 512.76
(v) Loans 10 356 215.68
(vi) Derivative assets 1,486.06
(vii) Other financial assets 11 357 446.42
(c) Retirement benefit assets 12 358 -
(d) Current tax assets 143.2
(e) Other assets 14 364 3,177.69
Total current assets 55,909.27
III Assets held for sale 19 369 2,823.45
Total assets 2,50,419.45

Equity and liabilities

IV Equity
(a) Equity share capital 20 371 1,144.95
(b) Hybrid perpetual securities 21 374 2,275.00
(c) Other equity 22 374 70,156.35
Equity attributable to owners of the Company 73,576.30
Non-controlling interests 2,586.60
Total equity 76,162.90
V Non-current liabilities
(a) Financial liabilities
(i) Borrowings 24 381 94,104.97
(ii) Derivative liabilities 127.92
(iii) Other financial liabilities 25 386 387.67
(b) Provisions 26 386 4,235.07
(c) Retirement benefit obligations 12 358 3,598.18
(d) Deferred income 27 388 151.3
(e) Deferred tax liabilities 13 360 9,261.38
(f ) Other liabilities 28 389 729.15
Total non-current liabilities 1,12,595.64
VI Current liabilities
(a) Financial liabilities
(i) Borrowings 24 381 19,184.48
(ii) Trade payables 29 389
(a) Total outstanding dues of micro and small enterprises 198.86
(b) Total outstanding dues of creditors other than micro and small enterprises 21,181.99
(iii) Derivative liabilities 729.22
(iv) Other financial liabilities 25 386 9,518.53
(b) Provisions 26 386 1,663.67
(c) Retirement benefit obligations 12 358 141.26
(d) Deferred income 27 388 34.55
(e) Current tax liabilities 609.58
(f ) Other liabilities 28 389 7,050.44
Total current liabilities 60,312.58
VII Liabilities held for sale 19 369 1,348.33
Total equity and liabilities 2,50,419.45
 (` crore)

As at March 31, 2019

1,18,450.97
17,956.51
-
3,996.62
1,994.32
684.7
1,922.95

1,290.36
613.34
108.74
570.06
19,964.19
1,574.78
808.95
4,654.92
1,74,591.41

31,656.10

2,524.86
11,811.00
2,975.53
365.84
239.7
359.11
1,248.56
4.38
133.94
3,529.70
54,848.72
4,142.26
2,33,582.39

1,144.94
 2,275.00
65,505.14
68,925.08
2,364.46
71,289.54

80,342.73
59.82
270.58
4,046.21
2,653.46
906.8
12,459.89
519.23
1,01,258.72

10,802.08

169.74
21,547.22
416.59
16,737.83
1,248.72
120.69
16.51
636.42
7,912.21
59,608.01
1,426.12
2,33,582.39
CONSOLIDATED STATEMENT OF PROFIT AND LOSS
for the year ended March 31, 2020

Note

I Revenue from operations 30

II Other income 31
III Total income
IV Expenses:
(a) Cost of materials consumed
(b) Purchases of stock-in-trade
(c) Changes in inventories of finished and semi-finished goods, stock-in-trade and work-in-progress
(d) Employee benefits expense 32
(e) Finance costs 33
(f ) Depreciation and amortisation expense 34
(g) Other expenses 35

(h) Less: Expenditure (other than interest) transferred to capital and other accounts
Total expenses
V Share of profit/(loss) of joint ventures and associates
VI Profit/(loss) before exceptional items and tax (III-IV+V)
VII Exceptional items: 36 36
(a) Profit on sale of subsidiaries and non-current investments
(b) Provision for impairment of investments/doubtful advances
(c) Provision for impairment of non-current assets
(d) Provision for demands and claims
(e) Employee separation compensation
(f ) Restructuring and other provisions
(g) Fair value gain/(loss) on preference share investments
Total exceptional items
VIII Profit/(loss) before tax (VI+VII)
IX Tax expense: 13
(a) Current tax
(b) Deferred tax
Total tax expense
X Profit/(loss) after tax from continuing operations

XI Profit/(loss) after tax from discontinued operations 37

(a) Profit/(loss) after tax from discontinued operations
(b) Profit/(loss) on disposal of discontinued operations
Profit/(loss) after tax from discontinued operations
XII Profit/(loss) for the year (X+XI)
XIII Other comprehensive income/(loss)
A. Remeasurement
(a) (i) Items that will not be reclassified
gain/(loss) subsequently
on post-employment to profit
defined benefitand loss:
plans 5,474.69

(b) Fair value changes of investments in equity shares

(c) Share of equity accounted investees
(ii) Income tax on items that will not be reclassified subsequently to
profit
B. and loss
(i) Items that will be reclassified subsequently to profit and loss:
(a) Fair
(b) Foreign currency
value changestranslation differences
of cash flow hedges
(c) Share of equity accounted investees
(ii) Income tax on items that will be reclassified subsequently to profit
and loss
Total other comprehensive income/(loss) for the year
XIV Total comprehensive income/(loss) for the year (XII+XIII)

XV Profit/(loss) from continuing operations for the year attributable to:

Owners of the Company
Non-controlling interests

XVI Profit/(loss) from discontinued operations for the year attributable to:
Owners of the Company
Non-controlling interests

XVII Total comprehensive income for the year attributable to:

Owners of the Company
Non-controlling interests

XVIII Earnings per share (for continuing operations) 38

Basic (rs)
Diluted (rs)
XIX Earnings per share (for discontinued operations)
Basic (rs) 38
Diluted (rs)
XX Earnings per share (for continuing and discontinued operations)
Basic (rs) 38
Diluted (rs)
 (` crore)
Page Year ended Year ended
March 31, 2020 March 31, 2019

390 1,39,816.65 1,57,668.99

390 1,843.49 1,420.58
1,41,660.14 1,59,089.57

53,244.21 54,309.07
4,795.78 6,567.98
-565.24 -96.71
391 18,533.58 18,758.87
391 7,533.46 7,660.10
392 8,440.73 7,341.83
392 48,663.26 50,410.72
1,40,645.78 1,44,951.86
2,318.00 1,664.28
1,38,327.78 1,43,287.58
187.97 224.7
3,520.33 16,026.69
393
189.62 180.13
-40.95 -172.12
-3,197.14 -9.57
-196.41 -328.64
-107.37 -35.33
-149.8 244.56
-250 -
-3,752.05 -120.97
-231.72 15,905.72
360
2,084.52 6,728.14
-4,652.93 -9.71
-2,568.41 6,718.43
2,336.69 9,187.29

393
-1,136.25 -88.96
-27.98 -
-1,164.23 -88.96
1,172.46 9,098.33

5,474.69 -683.6
-250.46 -36.65
-3.25 -0.14
-1,019.01 94.83
554.96 508.47
-378.49 161.8
25.94 4.53
78.45 -41.45
4,482.83 7.79
 5,655.29 9,106.12

2,719.58 10,283.45
-382.89 -1,096.16
2,336.69 9,187.29

-1,163.04 -65.12
-1.19 -23.84
-1,164.23 -88.96

6,026.17 10,362.88
-370.88 -1,256.76
5,655.29 9,106.12
395
22.02 88.32
22.02 88.31

395 -10.16 -0.57

-10.16 -0.57

395 11.86 87.75

11.86 87.74
CONSOLIDATED STATEMENT OF CASH FLOWS

A. Cash flows from operating activities:

Profit/(loss) before taxes
Adjustments for:
Depreciation and amortisation expense 8,707.67
Dividend income -35.08
(Gain)/loss on sale of non-current investments -2.01
(Gain)/loss on sale of property, plant and equipment including intangible assets (net of loss o 4.36
Exceptional (income)/expenses 4,901.60
(Gain)/loss on cancellation of forwards, swaps and options 1.26
Interest income and income from current investments -1,547.11
Finance costs 7,580.72
Foreign exchange (gain)/loss 982.07
(Profit)/loss on disposal of discontinued operation 27.98
Share of profit or loss of joint ventures and associates -187.97
Other non-cash items -974.62

Operating profit before changes in non-current/current assets and liabilities

Adjustments for:
Non-current/current financial and other assets 4,631.12
Inventories 1,561.94
Non-current/current financial and other liabilities/provisions -1,996.86

Cash generated from operations 22,274.63

Income taxes paid
Net cash from/(used in) operating activities

B. Cash flows from investing activities:

Purchase of capital assets -10,398.00
Sale of capital assets 385.73
Purchase of non-current investments -61.83
Sale of non-current investments 121.21
(Purchase)/sale of current investments (net) -766.15
Loans given -
Repayment of loans given 8.16
Principal receipts under sublease 67.72
Fixed/restricted deposits with banks (placed)/realised -138.18
Interest received 202.57
Dividend received from associates and joint ventures 56.02
Dividend received from others 46.64
Acquisition of subsidiaries/undertakings -4,432.74
Sale of subsidiaries/undertakings(i) 378.5
Net cash from/(used in) investing activities
Cash flows from financing activities:
Proceeds from issue of equity shares (net of issue expense(ii)) 187.53
Proceeds from long-term borrowings (net of issue expenses) 8,907.35
Repayment of long-term borrowings -7,937.37
Proceeds/(repayments) of short term borrowings (net) 7,666.32
Payment of lease obligations -1,028.99
Amount received/(paid) on utilisation/cancellation of derivatives 10.78
Distribution on hybrid perpetual securities -265.76
Interest paid -7,419.26
Dividend paid -1,506.55
Tax on dividend paid -308.67
Net cash from/(used in) financing activities
Net increase/(decrease) in cash and cash equivalents
Opening cash and cash equivalents (iii)
Effect of exchange rate on translation of foreign currency cash and cash
equivalents
Closing cash and cash equivalents (refer note 17, page 367) (iii) 7,732.34
 (` crore)

Year ended Year ended

March 31, 2020 March 31, 2019

-1,380.44 15,807.12

7,579.32
-26.19
-
-266.4
136.26
-36.95
-1,037.89
7,741.88
-1,150.77
-
-222.27
-684.45
19,458.87 12,032.54
18,078.43 27,839.66

-114.54
-1,068.71
3,773.76
4,196.20 2,590.51
30,430.17
-2,105.91 -5,094.22
20,168.72 25,335.95

-9,091.00
466.69
-489.96
462.5
13,093.07
-242.47
260.86
-
418.32
175.43
114.15
34.19
 -34,568.87
156.16
-14,530.35 -29,210.93

-6.03
33,343.63
-21,068.14
-4,008.52
-276.33
-66.64
-265.39
-6,901.39
-1,186.20
-237.69
-1,694.62 -672.7
3,943.75 -4,547.68
3,270.30 7,783.50
518.29 34.48

7,732.34 3,270.30
CONSOLIDATED STATEMENT OF CASH FLOWS

A. Cash flows from operating activities:

Profit/(loss)for:
Adjustments before tax

Depreciation and amortisation expense 9,233.64

Dividend income -41.42
(Gain)/Loss on sale of non-current investments -0.27
(Gain)/loss on sale of property, plant and equipment including intangible -148.03
assets (net of loss on assets scrapped/written off)
Exceptional (income)/expenses 1,043.16
(Gain)/loss on cancellation of forwards, swaps and options 2.72
Interest income and income from current investments -508.02
Finance costs 7,606.71
Foreign exchange (gain)/loss -2,375.23
Share of profit or loss of joint ventures and associates -327.34
Other non-cash items 210.08

Operating profit before changes in non-current/current assets and

liabilities
Adjustments for: Non-current/current financial and other assets 178.35
Inventories 45.68
Non-current/current financial and other liabilities/provisions 16,267.28

Cash generated from operations

Income taxes paid (net of refund)
Net cash from/(used in) operating activities

B. Cash flows from investing activities: -6,978.59

Purchase
Sale of assets
of capital capital assets 444.63
Purchase of non-current investments -70.64
Sale of non-current investments -
(Purchase)/sale of current investments (net) -3,560.04
Repayment of loans given 25.78
Principal receipts under sublease 101.04
Fixed/restricted deposits with banks (placed)/realised 223.8
Interest received 266.28
Dividend received from associates and joint ventures 92.85
Dividend received from others 42.03
Acquisition of subsidiaries/undertakings -
Sale of subsidiaries/undertakings(i) 89.98
Net cash from/(used in) investing activities
 (` crore)

Year ended Year ended

March 31, 2020 March 31, 2019

13,843.69 -1,380.44

8,707.67
-35.08
-2.01
4.36
4,929.58
1.26
-1,547.11
7,580.72
982.07
-187.97
-974.62
14,696.00 19,458.87
28,539.69 18,078.43

4,631.12
1,561.94
-1,996.86
16,491.31 4,196.20
45,031.00 22,274.63
-704.32 -2,105.91
44,326.68 20,168.72

-10,398.00
385.73
-61.83
121.21
-766.15
8.16
67.72
-138.18
202.57
56.02
46.64
-4,432.74
378.5
-9,322.88 -14,530.35
CONSOLIDATED BALANCE SHEET
for the year ended March 31, 2021

Note Page

Assets
I Non-current
(a) assets
Property, plant and equipment 3 364
(b) Capital work-in-progress
(c) Right-of-use assets 4 368
(d) Goodwill on consolidation 5 371
(e) Other intangible assets 6 372
(f ) Intangible assets under development
(g) Equity accounted investments 7 374
(h) Financial assets
(i) Investments 8 375
(ii) Loans 9 376
(iii) Derivative assets
(iv) Other financial assets 10 377
(i) Retirement benefit assets 11 379
(j) Non-current tax assets
(k) Deferred tax assets 12 380
(l) Other assets 13 383
Total non-current assets
II Current assets 14 384
(a)Financial
(b) Inventories
assets
(i) Investments 8 375
(ii) Trade receivables 15 385
(iii) Cash and cash equivalent 16 386
(iv) Other balances with banks 17 387
(v) Loans 9 376
(vi) Derivative assets
(vii) Other financial assets 10 377
(c) Retirement benefit assets 11 379
(d) Current tax assets
(e) Other assets 13 383
Total current assets
III Assets held for sale 18 387
Total assets

Equity and liabilities

IV Equity
(a) Equityshare capital 19 389
(b) Hybrid perpetual securities 20 392
(c) Other equity 21 392
Equity attributable to owners of the Company
Non-controlling interests
Total equity
V Non-current liabilities
(a) Financial liabilities
(i) Borrowings 23 399
(ii) Derivative liabilities
(iii) Other financial liabilities 24 403
(b) Provisions 25 404
(c) Retirement benefit obligations 11 379
(d) Deferred income 26 405
(e) Deferred tax liabilities 12 380
(f ) Other liabilities 27 406
Total non-current liabilities
VI Current liabilities
(a)
(i) Financial liabilities
Borrowings 23 399
(ii) Trade payables 28 406
(a) Total outstanding dues of micro and small enterprises
(b) Total outstanding dues of creditors other than micro and small
enterprises

(iv) Other financial liabilities 24 403

(b) Provisions 25 404
(c) Retirement benefit obligations 11 379
(d) Deferred income 26 405
(e) Current tax liabilities
(f ) Other liabilities 27 406
Total current liabilities
VII Liabilities held for sale 18 387
Total equity and liabilities
 (` crore)

As at March 31, 2021 As at March 31, 2020

1,19,003.50 1,19,503.98
18,128.74 18,862.06
9,450.95 8,549.78
4,344.69 4,054.53
2,976.04 2,442.37
878.66 634.77
2,475.66 2,168.54

987.38 684.77
336.57 488.71
162.66 279.64
214.93 588.93
20,019.47 27,278.45
1,845.34 1,725.67
1,578.02 1,270.33
2,872.70 3,154.20
1,85,275.31 1,91,686.73

33,276.38 31,068.72

7,218.89 3,431.87
9,539.84 7,884.91
5,532.08 7,541.96
250.1 512.76
64.72 215.68
498.79 1,486.06
1,420.97 446.42
0.42 -
156.74 143.2
2,153.44 3,177.69
60,112.37 55,909.27
99.53 2,823.45
2,45,487.21 2,50,419.45

1,197.61 1,144.95
775 2,275.00
72,266.16 70,156.35
74,238.77 73,576.30
 3,269.68 2,586.60
77,508.45 76,162.90

72,408.79 94,104.97
71.41 127.92
522.7 387.67
4,691.92 4,235.07
3,499.79 3,598.18
144.26 151.3
9,241.42 9,261.38
6,531.34 729.15
97,111.63 1,12,595.64

9,492.11 19,184.48

484.66 198.86
25,482.83 21,181.99
510.01 729.22
14,403.11 9,518.53
4,725.32 1,663.67
166.84 141.26
63.98 34.55
4,424.44 609.58
11,113.83 7,050.44
70,867.13 60,312.58
- 1,348.33
2,45,487.21 2,50,419.45
CONSOLIDATED STATEMENT OF PROFIT AND LOSS
for the year ended March 31, 2021

Note Page

I. Revenue from operations 29 104

II. Other income 30 407
III. Total income
IV. Expenses:
(a) Cost of materials consumed
(b) Purchases of stock-in-trade
(c) Changes in inventories of finished and semi-finished goods, stock-in- trade and work-in-progress
(d) Employee benefits expense 31 408
(e) Finance costs 32 408
(f ) Depreciation and amortisation expense 33 409
(g) Other expenses 34 409

(h) Less: Expenditure (other than interest) transferred to capital and other accounts
Total expenses
V. Share of profit/(loss) of joint ventures and associates
VI. Profit/(loss) before exceptional items and tax (III-IV+V)
VII. Exceptional items: 35 410
(a) Profit on sale of subsidiaries and non-current investments
(b) Provision for impairment of investments/doubtful advances
(c) Provision for impairment of non-current assets
(d) Provision for demands and claims
(e) Employee separation compensation
(f ) Restructuring and other provisions
(g) Gain/(loss) on non-current investments classified as fair value through profit and loss (net)
Total exceptional items
VIII Profit/(loss) before tax (VI+VII)
IX. Tax expense: 12 380
(a) Current tax
(b) Deferred tax
Total tax expense
X. Profit/(loss) for the year (VIII-IX)
XI. Other comprehensive income/(loss)
A. (i) Items that will not be reclassified subsequently to profit and loss:
(a) Remeasurement gain/(loss) on post-employment defined benefit plans
(b) Fair value changes of investments in equity shares
(c) Share of equity accounted investees
(ii) Income tax on items that will not be reclassified subsequently
toForeign
(a) profit and loss translation differences
currency
(b) Fair value changes of cash flow hedges
(c) Share of equity accounted investees
(ii) Income tax on items that will be reclassified subsequently to profit and loss
Total other comprehensive income/(loss) for the year
XII. Total comprehensive income/(loss) for the year (X+XI)

XIII. Profit/(loss) for the year attributable to:

Owners of the Company
Non-controlling interests
XIV. Total comprehensive income for the year attributable to:
Owners of the Company
Non-controlling interests

XV. Earnings per share 36 410

Basic (₹)
Diluted(₹)
 (` crore)
Year ended Year ended
March 31, 2020 March 31, 2019
1,56,294.18 1,48,971.71
895.6 1,821.99
1,57,189.78 1,50,793.70

46,187.96 53,592.83
9,235.42 10,504.20
1,516.77 -490.05
19,908.81 19,152.23
7,606.71 7,580.72
9,233.64 8,707.67
50,706.65 50,702.93
1,44,395.96 1,49,750.53
1,765.69 2,318.00
1,42,630.27 1,47,432.53
327.34 187.97
14,886.85 3,549.14

15.81 202.99
70.23 -40.95
-723.41 -4,372.44
- -196.41
-443.55 -107.37
87.5 -165.4
-49.74 -250
-1,043.16 -4,929.58
13,843.69 -1,380.44

4,288.27 2,113.63
1,365.63 -4,666.53
5,653.90 -2,552.90
8,189.79 1,172.46

-9,418.17 5,474.69
354.38 -250.46
1.68 -3.25
1,779.97 -1,019.01
-205.82 554.96
332.83 -378.49
18.09 25.94
-73.97 78.45
-7,211.01 4,482.83
978.78 5,655.29

7,490.22 1,556.54
699.57 -384.08
8,189.79 1,172.46
281.33 6,026.17
697.45 -370.88
978.78 5,655.29

63.78 11.86
63.78 11.86
 CONSOLIDATED BALANCE SHEET
as at March 31, 2022
As at March 31, 2022
Note Page As at March 31, 2021

Assets
I Non-current assets

(a) Property, plant and equipment 3 422 1,16,166.46 1,19,003.50

(b) Capital work-in-progress 3 426 21,227.62 18,128.74
(c) Right-of-use assets 4 428 8,337.70 9,450.95
(d) Goodwill on consolidation 5 431 4,311.20 4,344.69
(e) Other intangible assets 6 433 4,472.47 2,976.04
(f ) Intangible assets under development 6 435 817.93 878.66
(g) Advance against equity 1,210.00 -
(h) Equity accounted investments 7 436 2,961.65 2,475.66
(i) Financial assets
(i) Investments 8 438 1,653.78 987.38
(ii) Loans 9 439 72.44 91.93
(iii) Derivative assets 318.15 162.66
(iv) Other financial assets 10 440 442.64 459.57
(j) Retirement benefit assets 11 441 20,397.96 20,019.47
(k) Non-current tax assets 3,785.01 1,845.34
(l) Deferred tax assets 12 442 3,023.93 1,578.02
(m) Other assets 13 445 3,690.05 2,872.70

Total non-current assets 1,92,888.99 1,85,275.31

II Current assets
(a) Inventories 14 446 48,824.39 33,276.38
(b) Financial assets
(i) Investments 8 438 8,524.42 7,218.89
(ii) Trade receivables 15 447 12,246.43 9,539.84
(iii) Cash and cash equivalents 16 448 15,604.68 5,532.08
(iv) Other balances with banks 17 449 294.25 250.1
(v) Loans 9 439 5.84 5.59
(vi) Derivative assets 1,172.74 498.79
(vii) Other financial assets 10 440 2,011.62 1,480.10
(c) Retirement benefit assets 11 441 1.25 0.42
(d) Current tax assets 61.63 156.74
(e) Other assets 13 445 3,508.82 2,153.44

Total current assets 92,256.07 60,112.37

III Assets held for sale 18 450 300.54 99.53

Total assets 2,85,445.60 2,45,487.21

Equity and liabilities

IV Equity
(a) Equity share capital 19 451 1,221.21 1,197.61
(b) Hybrid perpetual securities 20 455 - 775
(c) Other equity 21 455 1,13,221.83 72,266.16

Equity attributable to owners of the Company 1,14,443.04 74,238.77

Non-controlling interests 2,655.42 3,269.68

Total equity 1,17,098.46 77,508.45

V Non-current liabilities
(a) Financial liabilities
(i) Borrowings 23 463 44,764.07 65,698.01
(ii) Lease Liabilities 5,696.46 6,710.78
(iii) Derivative liabilities 10.35 71.41
(iv) Other financial liabilities 24 467 989.57 522.7
(b) Provisions 25 468 4,825.98 4,691.92
(c) Retirement benefit obligations 11 441 3,413.71 3,499.79
(d) Deferred income 26 470 137.16 144.26
(e) Deferred tax liabilities 12 442 12,325.78 9,241.42
(f ) Other liabilities 27 470 5,596.06 6,531.34

Total non-current liabilities 77,759.14 97,111.63

VI Current liabilities
(a) Financial liabilities
(i) Borrowings 23 463 24,064.61 14,968.97
(ii) Lease Liabilities 1,036.21 1,123.65
(iii) Trade payables 28 471
(a) Total outstanding dues of micro and small enterprises 897.5 484.66
(b) Total outstanding dues of creditors other than micro and small enterprises 35,867.37 25,482.83
(iv) Derivative liabilities 196.91 510.01
(v) Other financial liabilities 24 467 8,381.41 7,802.60
(b) Provisions 25 468 2,768.49 4,725.32
(c) Retirement benefit obligations 11 441 158.22 166.84
(d) Deferred income 26 470 130.45 63.98
(e) Current tax liabilities 1,382.70 4,424.44
(f ) Other liabilities 27 470 15,513.02 11,113.83

Total current liabilities 90,396.89 70,867.13

VII Liabilities held for sale 18 450 191.11 -
Total equity and liabilities 2,85,445.60 2,45,487.21
Notes forming part of the consolidated financ 1-55
 5,782.18

26,835.99
 CONSOLIDATED STATEMENT OF PROFIT AND LOSS
for the year ended March 31, 2022
(₹ crore)

Note Year ended March 31, 2022

I Revenue from operations 29 2,43,959.17

II Other income 30 784.89

III Total income 2,44,744.06

IV Expenses:
(a) Cost of materials consumed 75763.70
(b) Purchases of stock-in-trade 15312.91
(c) Changes in inventories of finished and semi-finished goods, stock-in-trade and work-in-progress -7597.87
(d) Employee benefits expense 31 23264.10
(e) Finance costs 32 5462.20
(f ) Depreciation and amortisation expense 33 9100.87
(g) Other expenses 34 76616.28

1,97,922.19
(h) Less: Expenditure (other than interest) transferred to capital and other accounts 2889.90

Total expenses 1,95,032.29

V Share of profit/(loss) of joint ventures and associates 649.16

VI Profit/(loss) before exceptional items and tax (III-IV+V) 50360.93

VII Exceptional items: 35
(a) Profit on sale of subsidiaries and non-current investments 724.84
(b) Profit on sale of non current assets 30.83
(c) Provision for impairment of investments/doubtful advances (net) -99.74
(d) Provision for impairment of non-current assets -252.68
(e) Employee separation compensation -330.81
(f ) Restructuring and other provisions -256.24
(g) Gain/(loss) on non-current investments classified as fair value through profit and loss (net) 49.74

Total exceptional items -134.06

VIII Profit/(loss) before tax (VI+VII) 50226.87
IX Tax expense: 12
(a) Current tax 7049.88
(b) Deferred tax 1427.67

Total tax expense 8477.55

X Profit/(loss) for the year (VIII-IX) 41749.32
XI Other comprehensive income/(loss)
A. (i) Items that will not be reclassified subsequently to profit and loss:
(a) Remeasurement gain/(loss) on post-employment defined benefit plans 486.03
(b) Fair value changes of investments in equity shares 684.07
(c) Share of equity accounted investees 0.85

(ii) Income tax on items that will not be reclassified subsesquently to profit and loss -203.02

B. (i) Items that will be reclassified subsequently to profit and loss :

(a) Foreign currency translation differences -369.99
(b) Fair value changes of cash flow hedges 930.65
(c) Share of equity accounted investees -29.36

(ii) Income tax on items that will be reclassified subsesquently to profit and loss -193.81

Total other comprehensive income/(loss) for the year 1305.42

XII Total comprehensive income/(loss) for the year (X+XI) 43054.74
XIII Profit/(loss) from for the year attributable to:
Owners of the Company 40153.93
Non-controlling interests 1595.39

41749.32
XIV Total comprehensive income for the year attributable to:
Owners of the Company 41468.40
Non-controlling interests 1586.34

43054.74
XV Earnings per share 36
Basic (₹) 332.35
Diluted(₹) 332.09

XVI Notes forming part of the consolidated financial statements 1-55

 Comparitive Commonsize
Year ended March 31, 2021
2022.00% 2021.00% CHANGE IN AMOUNT %
1,56,477.40
100.00% 100.00% -8748177.00% -55.91%
895.60
0.32% 0.57% 11071.00% 12.36%
1,57,373.00 #VALUE! #VALUE! #VALUE! #VALUE!
#VALUE! #VALUE! 0.00% #DIV/0!
45292.49
#VALUE! #VALUE! -3047121.00% -67.28%
9808.32
#VALUE! #VALUE! -550459.00% -56.12%
1516.77
#VALUE! #VALUE! 911464.00% 600.92%
19908.81
#VALUE! #VALUE! -335529.00% -16.85%
7606.71
#VALUE! #VALUE! 214451.00% 28.19%
9233.64
#VALUE! #VALUE! 13277.00% 1.44%
51212.44
#VALUE! #VALUE! -2540384.00% -49.60%
1,44,579.18 #VALUE! #VALUE! #VALUE! #VALUE!
1765.69
#VALUE! #VALUE! -112421.00% -63.67%
1,42,813.49 #VALUE! #VALUE! #VALUE! #VALUE!
327.34
#VALUE! #VALUE! -32182.00% -98.31%
14886.85 #VALUE! #VALUE! -3547408.00% -238.29%
#VALUE! #VALUE! 0.00% #DIV/0!
15.81
#VALUE! #VALUE! -70903.00% -4484.69%
-
#VALUE! #VALUE! #VALUE! #VALUE!
70.23
#VALUE! #VALUE! 16997.00% 242.02%
-723.41
#VALUE! #VALUE! -47073.00% 65.07%
-443.55
#VALUE! #VALUE! -11274.00% 25.42%
87.50
#VALUE! #VALUE! 34374.00% 392.85%
-49.74
#VALUE! #VALUE! -9948.00% 200.00%
-1043.16 #VALUE! #VALUE! -90910.00% 87.15%
13843.69 #VALUE! #VALUE! -3638318.00% -262.81%
#VALUE! #VALUE! 0.00% #DIV/0!
4288.27
#VALUE! #VALUE! -276161.00% -64.40%
1365.63
#VALUE! #VALUE! -6204.00% -4.54%
5653.90 #VALUE! #VALUE! -282365.00% -49.94%
8189.79 #VALUE! #VALUE! -3355953.00% -409.77%
#VALUE! #VALUE! 0.00% #DIV/0!
#VALUE! #VALUE! 0.00% #DIV/0!
-9418.17
#VALUE! #VALUE! -990420.00% 105.16%
354.38
#VALUE! #VALUE! -32969.00% -93.03%
1.68
#VALUE! #VALUE! 83.00% 49.40%
1779.97
#VALUE! #VALUE! 198299.00% 111.41%
#VALUE! #VALUE! 0.00% #DIV/0!
-205.82
#VALUE! #VALUE! 16417.00% -79.76%
332.83
#VALUE! #VALUE! -59782.00% -179.62%
 18.09
#VALUE! #VALUE! 4745.00% 262.30%
-73.97
#VALUE! #VALUE! 11984.00% -162.01%
-7211.01 #VALUE! #VALUE! -851643.00% 118.10%
978.78 #VALUE! #VALUE! -4207596.00% -4298.82%
#VALUE! #VALUE! 0.00% #DIV/0!
7490.22
#VALUE! #VALUE! -3266371.00% -436.08%
699.57
#VALUE! #VALUE! -89582.00% -128.05%
8189.79 #VALUE! #VALUE! -3355953.00% -409.77%
#VALUE! #VALUE! 0.00% #DIV/0!
281.33
#VALUE! #VALUE! -4118707.00% -14640.13%
697.45
#VALUE! #VALUE! -88889.00% -127.45%
978.78 #VALUE! #VALUE! -4207596.00% -4298.82%
#VALUE! #VALUE! 0.00% #DIV/0!
63.78
#VALUE! #VALUE! -26857.00% -421.09%
63.78
#VALUE! #VALUE! -26831.00% -420.68%
#VALUE! #VALUE! 0.00% #DIV/0!
 CONSOLIDATED BALANCE SHEET
as at March 31, 2023
(I crore)
Note Page As at March 31,
2023 As at March 31, 2022

Assets
I Non-current assets
(a) Property, plant and equipment 3 F163 118,696.74 116,166.46
(b) Capital work-in-progress 3 F166 30,307.90 21,227.62
(c) Right-of-use assets 4 F169 9,222.52 8,337.70
(d) Goodwill 5 F172 5,601.65 4,311.20
(e) Other intangible assets 6 F174 13,100.55 4,472.47
(f ) Intangible assets under development 6 F176 905.12 817.93

(g) Advance against equity 1,210.00

(h) Equity accounted investments 7 F177 3,233.33 2,961.65
(i) Financial assets
(i) Investments 8 F179 1,546.92 1,653.78
(ii) Loans 9 F181 64.74 72.44
(iii) Derivative assets 318.15
(iv) Other financial assets 10 F183 510.88 442.64
(j) Retirement benefit assets 11 F185 6,990.83 20,397.96
(k) Non-current tax assets 4,369.03 3,785.01
(l) Deferred tax assets 12 F186 2,625.96 3,023.93
(m) Other assets 13 F189 3,776.63 3,690.05
Total non-current assets 201,356.20 192,888.99
II Current assets
(a) Inventories 14 F190 54,415.33 48,824.39
(b) Financial assets
(i) Investments 8 F179 3,630.06 8,524.42
(ii) Trade receivables 15 F191 8,257.24 12,246.43
(iii) Cash and cash equivalents 16 F192 12,129.90 15,604.68
(iv) Other balances with banks 17 F193 1,227.36 294.25
(v) Loans 9 F181 1.84 5.84
(vi) Derivative assets 561.46 1,172.74
(vii) Other financial assets 10 F183 1,435.51 2,011.62
(c) Retirement benefit assets 11 F185 - 1.25
(d) Current tax assets 117.69 61.63
(e) Other assets 13 F189 4,829.75 3,508.82
Total current assets 86,606.14 92,256.07
III Assets held for sale 18 F193 59.4 300.54
Total assets 288,021.74 285,445.60

Note Page As at March 31,

As at March 31, 2022
2023
Equity and liabilities
IV Equity
(a) Equity share capital 19 F194 1,221.24 1,221.21
(b) Other equity 21 F198 101,860.86 113,221.83
Equity attributable to owners of the Company 103,082.10 114,443.04

Non-controlling interests 2,093.11 2,655.42

Total equity 105,175.21 117,098.46
V Non-current liabilities
(a) Financial liabilities
(i) Borrowings 23 F206 51,446.33 44,764.07
(ii) Lease Liabilities 5,811.08 5,696.46
(iii) Derivative liabilities - 10.35
(iv) Other financial liabilities 24 F212 1,871.51 989.57
(b) Provisions 25 F213 4,775.84 4,825.98
(c) Retirement benefit obligations 11 F185 2,931.37 3,413.71
(d) Deferred income 26 F215 132.36 137.16
(e) Deferred tax liabilities 12 F186 14,115.64 12,325.78
(f ) Other liabilities 27 F216 4,467.27 5,596.06
Total non-current liabilities 85,551.40 77,759.14
VI Current liabilities
(a) Financial liabilities
(i) Borrowings 23 F206 26,571.37 24,064.61
(ii) Lease Liabilities 1,064.27 1,036.21
(iii) Trade payables 28 F217
(a) Total outstanding dues of micro and small 1,170.33 897.5
enterprises
(b) Total outstanding dues of creditors other than 36,662.21 35,867.37
micro and small enterprises

(iv) Derivative liabilities 1,630.53 196.91

(v) Other financial liabilities 24 F212 9,590.21 8,381.41
(b) Provisions 25 F213 3,882.73 2,768.49
(c) Retirement benefit obligations 11 F185 162.47 158.22
(d) Deferred income 26 F215 91.93 130.45
(e) Current tax liabilities 1,923.98 1,382.70
(f ) Other liabilities 27 F216 14,545.10 15,513.02
Total current liabilities 97,295.13 90,396.89
VII Liabilities held for sale 18 F193 - 191.11
Total equity and liabilities 288,021.74 285,445.60
Notes forming part of the Jan-54
consolidated financial statements
13,357.26 15,898.93

32,190.81 43,431.68
 CONSOLIDATED STATEMENT OF PROFIT AND LOSS
for the year ended March 31, 2023
(I crore)
Note Page Year ended
March 31, Year ended March 31, 2022 Year ended March 31, 2021
2023
I Revenue from operations 29 F218 243,352.69 243,959.17 1,56,477.40

II Other income 30 F219 1,037.48 784.89 895.60

III Total income 244,390.17 244,744.06 1,57,373.00
IV Expenses:
(a) Cost of materials consumed 101,483.08 75,763.70 45292.49
(b) Purchases of stock-in-trade 15,114.11 15,312.91 9808.32
(c) Changes in inventories of finished and semi-finished good -3,358.89 -7,597.87 1516.77
(d) Employee benefits expense 31 F219 22,419.32 23,264.10 19908.81

(e) Finance costs 32 F220 6,298.70 5,462.20 7606.71

(f ) Depreciation and 33 F220 9,335.20 9,100.87 9233.64
amortisation expense

(g) Other expenses 34 F220 80,518.87 76,616.28 51212.44

231,810.39 197,922.19 1,44,579.18
Less: Expenditure (other than finance cost) transferred to 5,123.96 2,889.90 1765.69
capital account

Total expenses 226,686.43 195,032.29 1,42,813.49

V Share of profit/(loss) of joint ventures and 418.12 649.16 327.34
associates
VI Profit/(loss) before exceptional items and tax 18,121.86 50,360.93 14886.85
(III-IV+V)

VII Exceptional items: 35 F221

(a) Profit on sale of subsidiaries and non-current 66.86 724.84 15.81
investments

(b) Profit on sale of non current assets - 30.83 -

(c) Provision for impairment of investments/ doubtful 83.68 -99.74 70.23

advances (net)

(d) Provision for impairment of non-current assets (net) 25.37 -252.68 -723.41

(e) Employee separation compensation -91.94 -330.81 -443.55

(f ) Restructuring and other provisions -1.7 -256.24 87.50

(g) Gain/(loss) on non-current investments classified as fair 30.99 49.74 -49.74

value through profit and loss (net)

Total exceptional items 113.26 -134.06 -1043.16

VIII Profit/(loss) before tax (VI+VII) 18,235.12 50,226.87 13843.69

IX Tax expense: 12 F186

(a) Current tax 5,361.33 7,049.88 4288.27
(b) Deferred tax 4,798.44 1,427.67 1365.63
Total tax expense 10,159.77 8,477.55 5653.90
X Profit/(loss) for the year (VIII-IX) 8,075.35 41,749.32 8189.79

XI Other comprehensive income/(loss)

A. (i) Items that will not be reclassified subsequently

to profit and loss:

(a) Remeasurement gain/(loss) on post-employment -13,310.57 486.03 -9418.17

defined benefit plans

(b) Fair value changes of investments in equity shares -219.55 684.07 354.38

(c) Share of equity accounted investees 0.47 0.85 1.68

(ii) Income tax on items that will not be reclassified 3,353.56 -203.02 1779.97
subsesquently to profit and loss

B. (i) Items that will be reclassified subsequently to

profit and loss :

(a) Foreign currency translation differences -2,057.74 -369.99 -205.82

(b) Fair value changes of cash flow hedges -2,129.94 930.65 332.83

(c) Share of equity accounted investees 12.28 -29.36 18.09

(ii) Income tax on items that will be reclassified 502.42 -193.81 -73.97
subsesquently to profit and loss

Total other comprehensive income/(loss) for the year -13,849.07 1,305.42 -7211.01

XII Total comprehensive income/(loss) for the year -5,773.72 43,054.74 978.78
(X+XI)

XIII Profit/(loss) for the year attributable to:

Owners of the Company 8,760.40 40,153.93 7490.22

Non-controlling interests -685.05 1,595.39 699.57
8,075.35 41,749.32 8189.79
XIV Total comprehensive income for the year
attributable to:
Owners of the Company -5,107.74 41,468.40 281.33
Non-controlling interests -665.98 1,586.34 697.45
-5,773.72 43,054.74 978.78
XV Earnings per share 36 F222
Basic (I) 7.17 33.24 63.78
Diluted(I) 7.17 33.21 63.78
Notes forming part of the Jan-54
consolidated financial
statements
CONSOLIDATED STATEMENT OF CASH FLOWS (₹ crore)

Year ended March 31, 2022

A. Cash flows from operating activities:

Profit/(loss) before tax 50226.87
Adjustments for:
Depreciation and amortisation expense 9100.87
Dividend income -35.30
(Gain)/Loss on sale of non-current investments -0.22
(Gain)/loss on sale of property, plant and equipment including intangible assets (net of loss on assets scrapped/written of -95.33
Exceptional (income)/expenses 134.06
(Gain)/loss on cancellation of forwards, swaps and options -39.05
Interest income and income from current investments -445.26
Finance costs 5462.20
Foreign exchange (gain)/loss 1579.15
Share of profit or loss of joint ventures and associates -649.16
Other non-cash items 661.56

15673.52
Operating profit before changes in non-current/current assets and liabilities 65900.39
Adjustments for:
Non-current/current financial and other assets -6220.09
Inventories -16916.83
Non-current/current financial and other liabilities/provisions 13519.22

-9617.70
Cash generated from operations 56282.69
Income taxes paid (net of refund) -11901.70

Net cash from/(used in) operating activities 44380.99

B. Cash flows from investing activities:
Purchase of capital assets -10522.20
Sale of capital assets 569.48
Purchase of non-current investments -48.70
Advance against equity paid -1210.00
Sale of non-current investments 62.56
(Purchase)/sale of current investments (net) -1104.05
Repayment of loans given -80.97
Principal receipts under sublease 17.68
Fixed/restricted deposits with banks (placed)/realised -18.26
Interest received 137.38
Dividend received from associates and joint ventures 126.19
Dividend received from others 35.31
Acquisition of subsidiaries/undertakings(i) -53.23
Sale of subsidiaries/undertakings(ii) 1207.58

Net cash from/(used in) investing activities -10881.23

C. Cash flows from financing activities:
Proceeds from issue of equity shares (net of issue expenses) 325.74
Proceeds from long-term borrowings (net of issue expenses) 906.66
Repayment of long-term borrowings -26359.60
Proceeds/(repayments) of short-term borrowings (net) 11532.27
Payment of lease obligations -1310.07
Proceeds from divestment of stake in subsidiary -
Amount received/(paid) on utilisation/cancellation of derivatives 29.90
Repayment of hybrid perpetual securities -775.00
Distribution on hybrid perpetual securities -44.20
Interest paid -4686.67
Dividend paid -3020.12

Net cash from/(used in) financing activities -23401.09

Net increase/(decrease) in cash or cash equivalents 10098.67
Opening cash and cash equivalents(iii) 5532.08
Effect of exchange rate on translation of foreign currency cash and cash equivalents -23.79

Closing cash and cash equivalents (Refer note 16, page 448)(iii) 15606.96

(i) Includes ₹54.18 crore paid in respect of deferred consideration on acquisition of subsidiary.
(ii) Includes Nil (2020-21: ₹84.81 crore) received in respect of deferred consideration on disposal of subsidiary and joint venture.
ded March 31, 2021

13843.69

9233.64
-41.42
-0.27
-148.03
1043.16
2.72
-508.02
7606.71
-2375.23

210.08

14696.00
28539.69

178.35
45.68
16267.28

16491.31
45031.00
-704.32

44326.68

-6978.59
444.63
-70.64
-
-
-3560.04
25.78
101.04
223.80
266.28
92.85
42.03
-
89.98

-9322.88
 3238.95
9800.61
-29168.25
-10008.99
-1283.92
21.06
31.34
-1500.00
-266.25
-6803.69
-1150.53

-37089.67
-2085.87
7732.34
-114.39

5532.08

re.