Consolidated Cash Flow Statement for the year ended 31st March, 2020 Consolidated Balance Sheet as at 31st

Consolidated Balance Sheet as at 31st March, 2020

For the year ended For the year ended As at As at
31st March, 2020 31st March, 2019 Note 31st March, 2020 31st March, 2019
(` in Crores) (` in Crores) (` in Crores) (` in Crores)
ASSETS
C. Cash Flow from Financing Activities Non-current assets
(a) Property, Plant and Equipment 3A 19632.92 18625.74
Proceeds from issue of share capital 625.30 969.13 (b) Capital work-in-progress 3B 3251.61 4126.18
Repayment of current borrowings – (10.56) (c) Investment Property 3E 385.36 –
(d) Goodwill on consolidation 202.53 202.53
Repayment of non-current borrowings (3.42) (7.07)
(e) Other Intangible assets 3C 525.37 545.92
Payment of lease liabilities (49.35) – (f) Intangible assets under development 3D 4.85 10.24
Interest paid (43.84) (98.06) (g) Right of Use Assets 3F 967.16 –
24969.80 23510.61
Net increase /(decrease) in statutory restricted accounts balances (1.13) 10.75 (h) Financial Assets
Dividend paid (7301.62) (6519.23) (i) Investments 4
(a) Investment in Associates 142.10 157.26
Income tax on dividend paid (1407.42) (1213.60) (b) Investment in Joint Ventures 124.46 121.86
NET CASH USED IN FINANCING ACTIVITIES (8181.48) (6868.64) (c) Others 10448.46 11416.87
10715.02 11695.99
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS 334.16 169.09 (ii) Loans 5 5.27 8.34
OPENING CASH AND CASH EQUIVALENTS 342.88 173.79 (iii) Others 6 615.65 11335.94 2385.17 14089.50
(i) Deferred tax assets (Net) 7 56.29 59.37
CLOSING CASH AND CASH EQUIVALENTS 677.04 342.88 (j) Income Tax Assets (Net) 21A 38.42 28.53
(k) Other non-current assets 8 1461.24 37861.69 2363.13 40051.14
Current assets
Notes: (a) Inventories 9 8879.33 7859.56
1. The above Cash Flow Statement has been prepared under the (b) Biological assets other than bearer plants 10 86.20 84.41
(c) Financial Assets
“Indirect Method” as set out in Ind AS – 7 “Statement of Cash Flows”. (i) Investments 11 17948.33 13347.50
2. CASH AND CASH EQUIVALENTS: (ii) Trade receivables 12 2562.48 4035.28
(iii) Cash and cash equivalents 13 650.35 317.81
Cash and cash equivalents as above 677.04 342.88 (iv) Other Bank Balances 14 6626.99 3834.22
Unrealised gain/ (loss) on foreign currency cash and (v) Loans 5 6.33 6.75
cash equivalents (28.11) (26.93) (vi) Others 6 1818.54 29613.02 1499.68 23041.24
(d) Other current assets 8 926.80 39505.35 762.06 31747.27
Cash credit facilities (Note 20) 1.42 1.86 TOTAL ASSETS 77367.04 71798.41
Cash and cash equivalents (Note 13) 650.35 317.81 EQUITY AND LIABILITIES
Equity
3. Net Cash Flow from Operating Activities includes an amount (a) Equity Share capital 15 1229.22 1225.86
of ` 324.68 Crores (2019 - ` 301.91 Crores) spent towards (b) Other Equity 64044.04 57915.01
Corporate Social Responsibility. Attributable to owners of the parent 65273.26 59140.87
Non-controlling interests 377.47 65650.73 343.47 59484.34
Liabilities
Non-current liabilities
The accompanying notes 1 to 31 are an integral part of the Financial Statements. (a) Financial Liabilities
(i) Borrowings 16 5.90 8.15
In terms of our report attached On behalf of the Board (ii) Lease Liabilities 17A 204.00 –
For S R B C & CO LLP (iii) Other financial liabilities 17B 127.87 337.77 73.41 81.56
(b) Provisions 18 175.37 161.95
Chartered Accountants
Firm Registration Number: 324982E/E300003 S. PURI Chairman & Managing Director (c) Deferred tax liabilities (Net) 7 1627.20 2052.06
(d) Other non-current liabilities 19 16.20 2156.54 6.51 2302.08
Sudhir Soni R. TANDON Director & Chief Financial Officer Current liabilities
Partner R. K. SINGHI Company Secretary (a) Financial Liabilities
(i) Borrowings 20 1.42 1.86
Mumbai, June 26, 2020 Kolkata, June 26, 2020 (ii) Trade payables
Total outstanding dues of micro enterprises
and small enterprises 37.93 55.41
Total outstanding dues of creditors other
than micro enterprises and small enterprises 3591.90 3629.83 3454.17 3509.58
(iii) Lease Liabilities 17A 63.87 –
(iv) Other financial liabilities 17B 1394.88 1187.16
(b) Other current liabilities 19 4072.72 4838.32
(c) Provisions 18 148.18 51.38
(d) Current Tax Liabilities (Net) 21B 248.87 9559.77 423.69 10011.99
TOTAL EQUITY AND LIABILITIES 77367.04 71798.41

The accompanying notes 1 to 31 are an integral part of the Financial Statements.

In terms of our report attached On behalf of the Board
For S R B C & CO LLP
Chartered Accountants S. PURI Chairman & Managing Director
Firm Registration Number: 324982E/E300003
Sudhir Soni
R. TANDON Director & Chief Financial Officer
Partner R. K. SINGHI Company Secretary
Mumbai, June 26, 2020 Kolkata, June 26, 2020

ITC Limited REPORT AND ACCOUNTS 2020 235 230 ITC Limited REPORT AND ACCOUNTS 2020
Consolidated Statement of Profit and Loss for the year ended 31st March, 2020 Consolidated Cash Flow Statement for the year ended 31st March, 2020
Note For the year ended For the year ended For the year ended For the year ended
31st March, 2020 31st March, 2019 31st March, 2020 31st March, 2019
(` in Crores) (` in Crores) (` in Crores) (` in Crores)
I Revenue From Operations 22A, 22B 51393.47 49862.11
A. Cash Flow from Operating Activities
II Other Income 23 2597.89 2173.79
III Total Income (I+II) 53991.36 52035.90 PROFIT BEFORE TAX 20034.57 19149.82
IV EXPENSES ADJUSTMENTS FOR:
Cost of materials consumed 13810.70 13403.01
Depreciation and amortization expense 1644.91 1396.61
Purchases of Stock-in-Trade 4237.90 4220.51
Changes in inventories of finished goods, Stock-in-Trade, Share based payments to employees 112.99 239.70
work-in-progress and intermediates (703.13) (203.19) Finance costs 54.68 45.42
Excise duty 1989.42 1509.43
Employee benefits expense 24 4295.79 4177.88
Interest Income (1522.13) (1312.79)
Finance costs 25 54.68 45.42 Dividend Income (8.31) (8.38)
Depreciation and amortization expense 1644.91 1396.61 Loss on sale of property, plant and equipment - Net 56.68 105.05
Other expenses 26 8502.63 8348.11
Net gain recognised on disposal of subsidiary – (9.40)
Total expenses (IV) 33832.90 32897.78
V Share of profit / (loss) of Associates and Joint Ventures 8.22 11.70 Doubtful and bad debts 37.59 32.56
VI Profit before exceptional items and tax (III-IV+V) 20166.68 19149.82 Doubtful and bad advances, loans and deposits (2.68) 6.01
VII Exceptional Items 28(i) (132.11) – Share of (profit) /loss of associates and joint ventures (8.22) (11.70)
VIII Profit before tax (VI+VII) 20034.57 19149.82 Net (gain) / loss arising on investments mandatorily measured at
IX Tax expense: Fair Value through profit or loss (974.03) (777.35)
Current Tax 27 4846.15 6191.62
Deferred Tax 27 (404.36) 122.30
Foreign currency translations and transactions - Net (9.49) 6.85
X Profit for the year (VIII-IX) 15592.78 12835.90 Impairment of investment in joint venture (0.15) (618.16) – (287.42)
Other Comprehensive Income OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES 19416.41 18862.40
A (i) Items that will not be reclassified to profit or loss:
ADJUSTMENTS FOR:
– Remeasurements of the defined benefit plans 28(vii) (127.57) 10.92
– Equity instruments through other comprehensive income (1349.52) 397.71 Trade receivables, advances and other assets 1411.00 (754.69)
– Effective portion of gains / (losses) on designated Inventories and biological assets other than bearer plants (507.99) (359.44)
portion of hedging instruments in a cash flow hedge (1.29) (21.05)
Trade payables, other liabilities and provisions (606.87) 296.14 638.60 (475.53)
– Share of OCI in Associates and Joint Ventures (12.60) (4.54)
(ii) Income tax relating to items that will not be reclassified to CASH GENERATED FROM OPERATIONS 19712.55 18386.87
profit or loss 27 10.14 3.04 Income tax paid (5022.89) (5803.46)
B (i) Items that will be reclassified to profit or loss:
– Exchange differences in translating the financial
NET CASH FROM OPERATING ACTIVITIES 14689.66 12583.41
statements of foreign operations 36.98 (60.23)
B. Cash Flow from Investing Activities
– Effective portion of gains / (losses) on designated
portion of hedging instruments in a cash flow hedge (36.24) 0.85
Purchase of property, plant and equipment, Intangibles etc. (2441.15) (3169.12)
(ii) Income tax relating to items that will be reclassified to
profit or loss 27 10.13 (0.30) Sale of property, plant and equipment 27.02 27.82
XI Other Comprehensive Income [A(i+ii)+B (i+ii)] (1469.97) 326.40 Purchase of current investments (77847.64) (90732.22)
XII Total Comprehensive Income for the year (X+XI) 14122.81 13162.30
Sale/ redemption of current investments 72405.47 92154.09
Profit for the year
Attributable to: Purchase of non-current investments (1987.78) (3454.56)
Owners of the parent 15306.23 12592.33 Redemption proceeds of non-current investments 3429.63 300.29
Non-controlling interests 286.55 243.57 Proceeds on disposal of subsidiary – 17.75
Total Comprehensive Income for the year
Dividend from associates and joint ventures 8.34 4.97
Attributable to:
Owners of the parent 13835.90 12919.28 Dividend from others 8.31 8.38
Non-controlling interests 286.91 243.02 Interest received 1513.35 1183.95
XIII Earnings per equity share (Face Value ` 1.00 each): 28(ii) Investment in bank deposits
(1) Basic (in ` ) 12.47 10.30
(original maturity more than 3 months) (5602.32) (5053.76)
(2) Diluted (in ` ) 12.45 10.24
Redemption/ maturity of bank deposits
(original maturity more than 3 months) 4321.20 3477.97
The accompanying notes 1 to 31 are an integral part of the Financial Statements. Investment in deposit with housing finance companies (712.16) (849.17)
In terms of our report attached On behalf of the Board Redemption/ maturity of deposit with housing finance companies 700.22 537.49
For S R B C & CO LLP Loans given (3.61) (9.60)
Chartered Accountants S. PURI Chairman & Managing Director
Firm Registration Number: 324982E/E300003 Loans realised 7.10 10.04
Sudhir Soni
R. TANDON Director & Chief Financial Officer NET CASH USED IN INVESTING ACTIVITIES (6174.02) (5545.68)
Partner R. K. SINGHI Company Secretary
Mumbai, June 26, 2020 Kolkata, June 26, 2020

ITC Limited REPORT AND ACCOUNTS 2020 231 234 ITC Limited REPORT AND ACCOUNTS 2020