CONSOLIDATED STATEMENT OF
PROFIT AND LOSS for the years ended March 31, 2017 and 2016
| (` crore) | ||||||
| Note | Page | Year ended March 31, 2017 |
Year ended March 31, 2016 |
|||
| I | Revenue from operations | 28 | 306 | 1,17,419.94 | 1,06,339.92 | |
| II | Other income | 29 | 306 | 527.47 | 412.22 | |
| III | Total income | 1,17,947.41 | 1,06,752.14 | |||
| IV | Expenses: | |||||
| (a) Raw materials consumed | 32,418.09 | 28,114.90 | ||||
| (b) Purchases of finished, semi-finished and other products | 11,424.94 | 10,581.37 | ||||
| (c) Changes in stock of finished goods, work-in-progress and stock-in-trade | (4,538.13) | 1,925.19 | ||||
| (d) Employee benefits expenses | 30 | 307 | 17,252.22 | 17,587.63 | ||
| (e) Finance costs | 31 | 307 | 5,072.20 | 4,221.41 | ||
| (f) Depreciation and amortisation expense | 32 | 307 | 5,672.88 | 5,306.35 | ||
| (g) Other expenses | 33 | 308 | 44,619.71 | 41,255.47 | ||
| 1,11,921.91 | 1,08,992.32 | |||||
| (h) Less: Expenditure (other than interest) transferred to capital and other accounts | 764.71 | 1,092.97 | ||||
| Total expenses | 1,11,157.20 | 1,07,899.35 | ||||
| V | Share of profit/(loss) of joint ventures and associates | 7.65 | (110.42) | |||
| VI | Profit before exceptional items and tax (III-IV+V) | 6,797.86 | (1,257.63) | |||
| VI | Exceptional items: | 34 | 308 | |||
| (a) Profit/(Loss) on sale of non-current investments | 22.70 | 47.17 | ||||
| (b) Profit on sale of non-current asset | 85.87 | - | ||||
| (c) Provision for impairment of investments/doubtful advances | (125.45) | (72.99) | ||||
| (d) Provision for impairment of non-current assets | (267.93) | (1,530.17) | ||||
| (e) Provision for demands and claims | (218.25) | (880.05) | ||||
| (f) Employee separation compensation | (207.37) | (556.25) | ||||
| (f) Restructuring and other provisions | (3,613.80) | 6,982.67 | ||||
| Total exceptional items | (4,324.23) | 3,990.38 | ||||
| VIII | Profit/(loss) before tax (VI+VII) | 2,473.63 | 2,732.75 | |||
| IX | Tax expense: | |||||
| (a) Current Tax | 1,741.70 | 1,321.02 | ||||
| (b) Deferred Tax | 1,036.31 | (631.06) | ||||
| Total tax expense | 2,778.01 | 689.96 | ||||
| X | Profit/(loss) after tax from continuing operations | (304.38) | 2,042.79 | |||
| XI | Profit/(loss) after tax from discontinued operations | 35 | 309 | |||
| (a) Profit/(loss) after tax from discontinued operations | (778.87) | (2,539.88) | ||||
| (b) Profit/(loss) on disposal of discontinued operations | (3,085.32 | - | ||||
| Profit/(loss) after tax from discontinued operations | (3,864.19) | (2,539.88) | ||||
| XII | Profit/(loss) for the year (A) | (4,168.57) | (497.09) | |||
| XIII | Other Comprehensive Income/(loss) | |||||
| A (i) Items that will not be reclassified subsequently to the consolidated statement of profit and loss | ||||||
| a) Remeasurement gains/(losses) on post employment defined benefit plans | (4,334.54) | 1,979.30 | ||||
| b) Fair value changes of investments in equity shares | 836.92 | (3,167.27) | ||||
| c) Share of equity accounted investees | 3.37 | (0.27) | ||||
| (ii) Income tax on Items that will not be reclassified subsequently to the consolidated statement of profit and loss | 782.34 | (576.02) | ||||
| B (i) Items that will be reclassified subsequently to the consolidated statement of profit and loss | ||||||
| (a) Foreign currency translation differences | 2,045.14 | (263.59) | ||||
| b) Fair value changes of cash flow hedges | 145.33 | 116.91 | ||||
| c) Share of equity accounted investees | (2.17) | 27.69 | ||||
| (ii) Income tax on items that will be reclassified subsequently to the consolidated statement of profit and loss | (39.45) | (14.92) | ||||
| Total Other Comprehensive Income/(loss) (B) | (563.06) | (1,898.17) | ||||
| XIV | Profit/(loss) from continuing operations for the year: | |||||
| Shareholders of the Company | (376.61) | 2,157.10 | ||||
| Non controlling interests | 72.23 | (114.31) | ||||
| (304.38) | 2,042.79 | |||||
| XV | Profit/(loss) from discontinued operations for the year: | |||||
| Shareholders of the Company | (3,864.19) | (2,539.88) | ||||
| Non controlling interests | - | - | ||||
| (3,864.19) | (2,539.88) | |||||
| XVI | Total Comprehensive Income for the year: (A+B) | |||||
| (i) Shareholders of the Company | (4,800.32) | (2,283.21) | ||||
| (ii) Non controlling interests | 68.69 | (112.05) | ||||
| (4,731.63) | (2,395.26) | |||||
| XVII | Earnings per equity share (from continuing operations) | |||||
| Basic and Diluted (`) | 37 | 311 | (4.93) | 19.26 | ||
| XVIII | Earnings per equity share (from discontinued operations) | |||||
| Basic and Diluted (`) | 37 | 311 | (39.84) | (26.18) | ||
| XIX | Earnings per equity share (from continuing and discontinued operations) | |||||
| Basic and Diluted (`) | 37 | 311 | (44.77) | (6.92) | ||
| XX | Notes forming part of the financial statements | 1-48 | ||||
In terms of our report attached
For and on behalf of the Board of Directors
For DELOITTE HASKINS & SELLS LLP
Chartered Accountants
sd/-
N. Chandrasekaran
Chairman
(DIN: 00121863)
sd/-
Ishaat Hussain
Director
(DIN: 00027891)
sd/-
Andrew Robb
Director
(DIN: 01911023)
sd/-
O. P. Bhatt
Director
(DIN: 00548091)
sd/-
Mallika Srinivasan
Director
(DIN: 00037022)
sd/-
Peter Blauwhoff
Director
(DIN: 07728872)
sd/-
N. Venkatram
Partner
sd/-
Aman Mehta
Director
(DIN: 00009364)
sd/-
Deepak Kapoor
Director
(DIN: 00162957)
sd/-
D. K. Mehrotra
Director
(DIN: 00142711)
sd/-
Koushik Chatterjee
Group Executive Director
(Finance, Corporate & Europe)
(DIN: 00004989)
sd/-
T. V. Narendran
Managing Director
(DIN: 03083605)
sd/-
Parvatheesam K.
Company Secretary
(ACS: 15921)
Mumbai, May 16, 2017