Consolidated Statement of Profit and Loss |
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(₹ In Crore) |
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Particulars |
Note No. |
For the year ended 31 March |
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2023 |
2022 |
|||||
|
||||||
Revenue from contracts with customers |
35,391.52 |
32,135.98 |
||||
Other operating revenue |
1,063.86 |
1,008.73 |
||||
Revenue from operations |
36,455.38 |
33,144.71 |
||||
Other income |
1,187.52 |
1,284.14 |
||||
Total income |
37,642.90 |
34,428.85 |
||||
|
||||||
Expenses |
||||||
Cost of raw materials and components consumed |
24,073.13 |
22,169.88 |
||||
Purchase of traded goods |
2,148.45 |
1,971.98 |
||||
Changes in inventories of finished goods, work-in-progress and traded goods |
(100.33) |
187.96 |
||||
Employee benefits expense |
1,484.47 |
1,362.79 |
||||
Finance costs |
39.51 |
8.66 |
||||
Depreciation and amortisation expense |
285.85 |
269.76 |
||||
Other expenses |
2,426.95 |
2,215.49 |
||||
Expenses, included in above items, capitalised |
(27.82) |
(13.31) |
||||
Total expenses |
30,330.21 |
28,173.21 |
||||
|
||||||
Share of profits of associate |
529.29 |
579.53 |
||||
|
||||||
Profit before exceptional items and tax |
7,841.98 |
6,835.17 |
||||
|
||||||
Exceptional items |
– |
(816.51) |
||||
|
||||||
Profit before tax |
7,841.98 |
7,651.68 |
||||
|
||||||
Tax expense |
||||||
Current tax |
1,854.89 |
1,667.11 |
||||
Deferred tax |
(73.12) |
(181.30) |
||||
Total tax expense |
1,781.77 |
1,485.81 |
||||
|
||||||
Profit after tax |
6,060.21 |
6,165.87 |
||||
|
||||||
Profit attributable to non-controlling interest |
– |
– |
||||
|
||||||
Profit for the year |
6,060.21 |
6,165.87 |
||||
Other comprehensive income |
||||||
Items that will not be reclassified to profit or loss |
||||||
Actuarial gains/(losses) of defined benefit plans |
(2.11) |
17.94 |
||||
Tax impact on above |
0.53 |
(4.52) |
||||
Actuarial gains/(losses) of defined benefit plans – share of associate of subsidiary |
– |
2.39 |
||||
Changes in fair value of FVTOCI equity instruments |
337.14 |
605.59 |
||||
Tax impact on above |
(36.42) |
(67.61) |
||||
Items that will be reclassified to profit or loss |
||||||
Valuation gains/(losses) on derivative hedging instruments |
(80.53) |
(40.87) |
||||
Tax impact on above |
20.27 |
10.29 |
||||
Other adjustments – share of associate of subsidiary |
12.11 |
21.13 |
||||
Change in foreign currency translation reserve of subsidiary |
301.92 |
(113.98) |
||||
Other comprehensive income (net of tax) |
552.91 |
430.36 |
||||
|
||||||
Total comprehensive income for the year |
6,613.12 |
6,596.23 |
||||
|
||||||
Profit attributable to: |
||||||
Owners of the Company |
6,060.21 |
6,165.87 |
||||
Non-controlling interest |
– |
– |
||||
6,060.21 |
6,165.87 |
|||||
|
||||||
Total comprehensive income attributable to: |
||||||
Owners of the Company |
6,613.12 |
6,596.23 |
||||
Non-controlling interest |
– |
– |
||||
6,613.12 |
6,596.23 |
|||||
|
||||||
Basic and diluted Earnings per share (in ₹) |
212.5 |
213.2 |
||||
(Nominal value per share ₹ 10) |
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Summary of significant accounting policies followed by the Group |
The accompanying notes are an integral part of the consolidated financial statements |
On behalf of the Board of Directors |
|
As per our report of even date |
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For S R B C & CO LLP Chartered Accountants ICAI Firm Registration Number: 324982E/E300003 |
Niraj Bajaj Chairman |
|
Dinesh Thapar Chief Financial Officer |
Rajiv Bajaj Managing Director |
|
per Arvind Sethi Partner Membership Number: 089802 Pune: 25 April 2023 |
Dr. J Sridhar Company Secretary |
Anami N. Roy Chairman – Audit Committee (DIN: 01361110) |