Statement of Profit and Loss for the year ended 31st March, 2014

                      Rs.crores  
                      Previous Year  
Note Page                    
                       
    (1) REVENUE              
21 164   (a) Revenue from operations
  46,309.34         42,317.24
        Less: Excise Duty   4,598.31         4,117.81
            41,711.03         38,199.43
22 165   (b) Other income   787.64         902.04
    TOTAL REVENUE     42,498.67       39,101.47
                       
    (2) EXPENSESS              
23 165   (a) Raw materials consumed   9,677.71         9,877.40
24 165   (b) Purchase of finished, semi-finished and other products   352.63         453.34
25 166   (c) Changes in inventories of finished goods, work-in-progress              
        and stock-in-trade   (155.18)         (404.60)
26 166   (d) Employee benefits expense   3,673.08         3,602.27
27 167   (e) Depreciation and amortisation expense   1,928.70         1,640.38
28 167   (f) Finance costs   1,820.58         1,876.77
29 167   (g) Other expenses   16,375.81         14,420.91
            33,673.33         31,466.47
      (h) Less: Expenditure (other than interest) transferred              
        to capital and other accounts   1,029.92         876.13
    TOTAL EXPENSESS     32,643.41       30,590.34
    (3) PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX     9,855.26     8,511.13
30 168 (4) EXCEPTIONAL ITEMS            
      (a) Provision for diminution in the value of investments/
            
        doubtful advances     (141.76)       (686.86)
      (b) Profit on sale of non-current investments     –       12.33
              (141.76)       (674.53)
    (5) PROFIT BEFORE TAX     9,713.50     7,836.60
                     
    (6) TAX EXPENSE            
      (a) Current tax
  3,098.02       1,770.54
      (b) MAT credit   –       (399.84)
      (c) Deferred tax   203.29         1,402.93
              3,301.31     2,773.63
    (7) PROFIT AFTER TAX     6,412.19     5,062.97
                     
    (8) NOMINAL VALUE PER SHARE (Rs.)     10.00       10.00
31 168 (9) BASIC EARNINGS PER SHARE(Rs.)     64.21       50.28
31 168 (10) DILUTED EARNINGS PER SHARE (Rs.)     64.21       50.28
1-49 144 Notes to Balance Sheet and Statement of Profit and Loss              
 
In terms of our report attached   For and on behalf of the Board  
For DELOITTE HASKINS & SELLS LLP   CYRUS P MISTRY Chairman
Chartered Accountants,   B MUTHURAMAN Vice Chairman
    NUSLI N WADIA  
    ISHAAT HUSSAIN  
    SUBODH BHARGAVA  
N VENKATRAM   JACOBUS SCHRAVEN Directors
Partner   ANDREW ROBB  
    MALLIKA SRINIVASAN  
    D K MEHROTRA  
    O P BHATT  
    KARL-ULRICH KOEHLER  
    KOUSHIK CHATTERJEE Group Executive Director
  A ANJENEYAN   (Finance & Corporate)
Mumbai, 14th May, 2014 Company Secretary T V NARENDRAN Managing Director