Mandatory Accounting Standards - Ind AS – Extracts from Published Accounts-1

|176| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (` in crores) Particulars Gratuity Medical benefits (unfunded) Pension plan (unfunded) As at 31 March As at 31 March As at 31 March 2019 2018 2019 2018 2019 2018 VII Expenses recognised in the consolidated statement of OCI Actuarial (gain)/loss due to DBO experience 0.19 (0.88) 9.87 9.19 (0.84) 9.29 Actuarial (gain)/loss due to DBO assumption changes 1.86 (15.83) 2.53 (3.73) 0.65 (1.06) Return on plan assets (greater)/less than discount rate (1.83) (3.61) - - - - Actuarial (gains)/ losses recognized in OCI 0.22 (20.32) 12.40 5.46 (0.19) 8.23 (` in crores) Particulars Gratuity (funded) As at 31 March 2019 2018 VIII Categories of plan assets as a percentage of total plan assets Govt. of India Securities (Central and state) 36.70% 36.05% High quality corporate bonds (including Public Sector Bond) 37.60% 39.66% Equity shares of listed companies 13.62% 13.71% Cash (including Special Deposits) 6.64% 8.52% Others 5.44% 2.06% Total 100.00% 100.00% The fair values of the above equity and debt instruments are determined based on quoted market prices in active markets. This policy has been implemented during the current and prior years. The Group’s policy and objective for plan assets management is to maximize return on plan assets to meet future benefit payment requirements while at the same time accepting a low level of risk. The asset allocation for plan assets is determined based on the investment criteria approved under the Income Tax Act, 1961 and is also subject to other exposure limitations. IX A quantitative sensitivity analysis for significant assumption as at 31 March 2019 and 31 March 2018 is as shown below: (As per actuarial valuation report). The sensitivity analysis below has been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant (` in crores) Particulars Gratuity Medical benefits (unfunded) Pension plan (unfunded) As at 31 March As at 31 March As at 31 March 2019 2018 2019 2018 2019 2018 Discount rate Increase (1%) (8.84) (8.41) (11.75) (11.03) (3.07) (3.25) Decrease (1%) 10.03 9.54 13.35 3.74 Salary escalation rate 14.22 3.54 Increase (1%) 7.30 6.97 - - - - Decrease (1%) (6.96) (6.62) - - - - Attrition Rate Increase (5%) 2.97 3.44 (4.76) (4.69) - - Decrease (5%) (4.34) (5.12) 4.04 4.03 - - Post Retirement Mortality Increase (3 years) - - (11.77) (10.82) (5.74) (5.78) Decrease (3 years) - - 12.05 11.04 6.42 6.44

|177| Chap. 9 – Ind AS 19 — Employee Benefits (` in crores) Particulars Gratuity Medical benefits (unfunded) Pension plan (unfunded) As at 31 March As at 31 March As at 31 March 2019 2018 2019 2018 2019 2018 Increase in dearness allowance Increase (1%) - - - - 8.64 9.01 Decrease (1%) - - - - (7.84) (8.17) Healthcare cost increase rate Increase (1%) - - 10.12 9.60 - - Decrease (1%) - - (8.44) (7.99) - - The sensitivity analysis presented above may not be representative of the actual change in the defi benefi obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognized in the balance sheet. There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years. (` in crores) Particulars Gratuity Medical benefits (unfunded) Pension plan (unfunded) As at 31 March 2019 As at 31 March 2019 As at 31 March 2019 IX Maturity profile of defined benefit plan Expected benefit payments for the year ending 31 March 2020 16.07 8.74 14.70 31 March 2021 15.08 8.90 15.44 31 March 2022 17.00 9.09 16.21 31 March 2023 18.55 9.26 17.02 31 March 2024 17.49 9.38 17.87 31 March 2025 to 31 March 2029 95.76 48.84 103.67 Total expected payments 179.95 94.21 184.91 i. Leave plan and Compensated absences For executives Leave unavailed of by eligible employees may be carried forward / encashed by them / their nominees in the event of death or permanent disablement or resignation, subject to a maximum leave of 60 days in addition to accumulaed leave balance available in accumulated quota. During the previous year, this was subject to a maximum leave of 120 days in addition to accumulated leave balance available in accumulated quota. For non-executives Leave unavailed of by eligible employees may be carried forward / encashed by them / their nominees in the event of death or permanent disablement or resignation, subject to a maximum leave of 300 days. The total liability for compensated absences as at the year-end is ` 63.39 crores (31 March 2018: ` 61.43 crores), liability shown under non-current provisions ` 54.08 crores (31 March 2018: ` 52.81crores) and current provisions ` 9.31 crores (31 March 2018: ` 8.62 crores). The amount charged to the Consolidated Statement of Profit and Loss under salaries and related costs in note 26 “Employee benefits” is ` (10.88) crores (2017- 2018: ` (10.98) crores).

|178| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (B) Foreign entities: i. Defined Contribution Plan The Group makes contribution to defined contribution retirement benefit plans under the provisions of section 401(k) of the Internal Revenue Code for USA employees, a Registered Retirement Savings Plan (“RRSP”) for Canadian employees and a Group Stakeholder Pension plan (“GSPP”) for UK employees and other plan in other countries. An amount of ` 44.73 crores (2017- 2018: ` 41.34 crores) is charged to Consolidated Statement of Profit and Loss under Contribution to Provident and other funds in Note 26 “Employee Benefits”. ii. Defined Benefit Pension Plans Pension Plan: The Group has both a contributory and non-contributory defined benefit pension plans covering certain of its employees in Canada. The Group also has an unfunded Supplemental Employee Retirement Plan (“SERP”) covering certain senior executives in Canada. The plan provides for defined benefit based on years of service and final average salary. Health and Life insurance: The Group also assumed a post-retirement health care and life insurance plan. The defined benefit plan in Canada expose the Group to different risks such as: Investment risk The financial situation of the plan is calculated using a prescribed discount rate. If the return on assets is lower than the discount rate, it will create a deficit. Interest rate risk A variation in bond rates will affect the value of the defined benefit obligation and of the assets. Longevity risk A greater increase in life expectancy than the one predicted by the mortality table used will increase the defined benefit obligation. Inflation risk The defined benefit obligation is calculated taking into account an increase in the level of salary and cost of living adjustment. If actual inflation is greater than expected, that would result in an increase in the defined benefit obligation. Health care cost trend risk The defined benefit obligation of the Post-Retirement Benefits (Other than Pension) is calculated taking into account a health care cost trend rate. If the trend is greater than expected, that would result in an increase in the defined benefit obligation for the plan. The most recent actuarial valuations of the plan assets and the present value of the defined benefit obligation in Canada were carried out as at March 31, 2019 by an independent technical expert in Canada. The present value of the defined benefit obligation and the related current service cost and past service cost, were measured using the projected unit credit method. The details in respect of status of funding and the amounts recognised in the consolidated financial statement as for the year ended 31 March 2019 and 31 March 2018 for these defined benefit schemes are as under: Particulars As at 31 March 2019 As at 31 March 2018 I Principal actuarial assumptions: Discount rate used for benefit costs 3.50% 3.60% Discount rate used for benefit obligations 3.30% 3.50% Inflation 2.00% 2.00% Rate of compensation increase 3.00% 3.00% Health Care Cost Trend Rate – Prescription Drugs 4.50% to 7.25% 4.50% to 7.75% Health Care Cost Trend Rate – Other Medical 3.00% 3.00% Asset valuation method Market Value Market Value

|179| Chap. 9 – Ind AS 19 — Employee Benefits Particulars As at 31 March 2019 As at 31 March 2018 Mortality Table CPM Private Sector Mortality Table with generational improvements with scale MI-2017 CPM 2014 Private Sector Mortality Table with generational improvements with scale CPM-B Particulars Pension Plans Health care and Contributory SERP life insurance plans 2019 2018 2019 2018 2019 2018 II Change in the defined benefit obligation Projected defined benefit obligation, beginning of the year 1,065.09 1,077.79 1.13 5.06 1.77 2.08 Current service cost 7.40 10.45 0.04 0.18 - Interest cost 38.27 37.95 0.03 0.20 0.06 0.07 Benefits paid (76.63) (72.00) (0.66) - (0.48) (0.47) Actuarial (gains)/ losses_ Demograhic assumptions 14.79 — — — — — Actuarial (gains)/ losses Financial assumptions 28.45 13.43 0.02 0.01 0.01 — Experience (gain)/loss 0.86 (8.99) 0.02 (4.50) (0.23) — Impact of Minimum Funding requirement — (35.44) — — — Effect of foreign currency rate changes* 21.55 41.90 0.04 0.18 0.06 0.09 Projected benefit obligation at the end of the year 1,099.78 1,065.09 0.62 1.13 1.19 1.77 *Translation adjustment loss/(gain) includes loss of ` 66.45 crores (2017-2018: loss of ` 4.30 crores) which has been taken to foreign currency translation reserve and loss/(gain) of ` (44.80) crores (2017- 2018: loss of ` 37.87 crores) which has been taken to Other Comprehensive Income Particulars Pension Plans Contributory As at 31 March 2019 2018 III Change in Fair value of assets Fair value of plan assets, beginning of the year 1065.09 1,043.62 Actual return on plan assets 38.16 36.62 Contributions 8.67 16.95 Benefits paid (76.63) (72.00) Actuarial gain / (loss) 0.85 2.01 Impact of asset ceiling 42.10 (2.62) Effect of foreign currency rate changes* 21.54 40.51 Fair value of plan assets, end of the year 1,099.78 1,065.09

|180| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts *Translation adjustment gain/ (loss) includes gain of ` 66.33 crores (2017-2018: gain of ` 4.45 crores) which has been taken to Foreign currency translation reserve and gain/(loss) of ` (44.77) crores (2017- 2018: gain of ` 36.06 crores) taken to Other Comprehensive Income. Particulars Pension Plans Health care and Contributory SERP life insurance plans 2019 2018 2019 2018 2019 2018 IV Amount recognised in accumulated Other Comprehensive Income Opening Balance (64.65) (35.77) (2.11) 2.17 0.86 0.78 Expenses as per table VII below 1.22 (28.88) 0.01 (4.28) (0.29) 0.08 Closing balance (63.43) (64.65) (2.10) (2.11) 0.57 0.86 Particulars Pension Plans Health care and Contributory SERP life insurance plans 2019 2018 2019 2018 2019 2018 V Amount recognised in the consolidated balance sheet Present value of obligations 1,099.80 1,065.09 0.62 1.13 1.19 1.77 Fair value of plan assets (1,099.80) (1,065.09) — — Net (asset)/ liability in the consolidated balance sheet — — 0.62 1.13 1.19 1.77 Non-current provisions (refer note 21A) – — 0.62 1.13 1.19 1.77 Particulars Year ended 31 March 2019 Year ended 31 March 2018 VI Pension expenses recognized in the Consolidated Statement of Profit or Loss Current service cost (refer note 25) 7.44 10.63 Net interest cost (refer note 27) 0.20 1.60 Components of defined benefit costs recognised in the consolidated statement of Profit or Loss 7.64 12.23 Particulars Year ended 31 March 2019 Year ended 31 March 2018 VII Pension expenses recognised in the Other Comprehensive Income Net Actuarial (gains)/losses recognised_Demograhic assumptions 14.79 Net Actuarial (gains)/losses due to financial assumptions 28.48 13.44 Experience (gain)/loss 0.65 (13.49) Actuarial (gain)/loss on plan assets (0.85) (2.01) Impact of asset ceiling (42.10) 2.62 Impact of minimum funding requirements — (35.44) Effect of Foreign exchange rate changes (Net) (0.03) 1.80 Expense recognized in the Other Comprehensive Income 0.94 (33.08)

|181| Chap. 9 – Ind AS 19 — Employee Benefits Particulars Year ended 31 March 2019 Year ended 31 March 2018 VIII Categories of plan assets as a percentage of total plan assets Global Equities 7.00% 8.00% Canadian Equities — — International Equities — — US Equities — — Long Term bonds — — Real Return bonds 92.00% 89.00% Overall universe bonds — — Money market securities 1.00% 3.00% Total 100% 100% IX A quantitative sensitivity analysis for significant assumption as at 31 March 2019 and 31 March 2018 is as shown below: (As per actuarial valuation report). The sensitivity analysis below has been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Particulars Year ended 31 March 2019 Year ended 31 March 2018 Discount rate Increase of 1% (126.97) (137.58) Decrease of 1% 156.65 138.57 Inflation rate Increase of 1% 142.15 133.01 Decrease of 1% (117.38) (122.10) Future salary increases Increase of 1% 6.46 10.79 Decrease of 1% (6.00) (9.98) Post retirement Mortality Increase (1 year) 25.77 24.97 Decrease (1 year) (24.81) (24.04) Medical Trend rate Increase of 1% 0.02 0.04 Decrease of 1% (0.02) (0.04) The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognized in the balance sheet. There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.

|182| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts The Group expects to contribute ` 13.40 crores (31 March 2018: ` 28.78) to its defined benefit plans in financial year 2019-20. Particulars As at 31 March 2019 X Maturity profile Expected benefit payments for the year ending 31 March 2020 55.09 31 March 2021 54.53 31 March 2022 54.50 31 March 2023 53.94 31 March 2024 53.92 31 March 2025 to 31 March 2029 258.60 Total 530.58 iii. Leave plan and Compensated absences The liability for compensated absences as at the year end is ` 45.73 crores (31 March 2018: ` 45.45 crores) as shown under current provisions. The amount charged to the Consolidated Statement of Profit and Loss under salaries and related costs in note 25 “Employee benefits” is ` 9.22 crores (2017-2018: ` 8.83 crores). 4. THYROCARE TECHNOLOGIES LIMITED i. Short-term employee benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid e.g., under shortterm cash bonus, if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the amount of obligation can be estimated reliably. ii. Share-based payment transactions The grant date fair value of equity settled share based payment awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period that the employees unconditionally become entitled to the awards. The amount recognised as expense is based on the estimate of the number of awards for which the related service and nonmarket vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market vesting conditions at the vesting date. iii. Defined contribution plans A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. The Group makes specified monthly contributions towards Government administered provident fund scheme. Obligations for contributions to defined contribution plans are recognised as an employee benefit expense in profit or loss in the periods during which the related services are rendered by employees. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in future payments is available. iv. Defined benefit plans A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The Group’s net obligation in respect of defined benefit plans is calculated separately for each plan by estimating the amount of future benefit that employees have earned in the current and prior periods, discounting that amount and deducting the fair value of any plan assets. The calculation of defined benefit obligation is performed annually by a qualified actuary using the projected unit credit method. When the calculation results in a potential asset for the Group, the recognised asset is limited to the present value of economic benefits available in the form of any future refunds from the plan or reductions in future contributions to the plan (‘the asset ceiling’). In order to calculate the present value of economic benefits, consideration is given to any minimum funding requirements. Remeasurements of the

|183| Chap. 9 – Ind AS 19 — Employee Benefits net defined benefit liability, which comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognised in OCI. The Group determines the net interest expense (income) on the net defined benefit liability (asset) for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period to the then net defined benefit liability (asset), taking into account any changes in the net defined benefit liability (asset) during the period as a result of contributions and benefit payments. v. Net interest Expense and other expenses related to defined benefit plans are recognised in profit or loss. When the benefits of a plan are changed or when a plan is curtailed, the resulting change in benefit that relates to past service (‘past service cost’ or ‘past service gain’) or the gain or loss on curtailment is recognised immediately in profit or loss. The Group recognises gains and losses on the settlement of a defined benefit plan when the settlement occurs. Other long-term employee benefits The Group’s net obligation in respect of long-term employee benefits other than post-employment benefits is the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value, and the fair value of any related assets is deducted. The obligation is measured on the basis of an annual independent actuarial valuation using the projected unit credit method. Remeasurements gains or losses are recognised in profit or loss in the period in which they arise. vi. Termination benefits Termination benefits are expensed at the earlier of when the Group can no longer withdraw the offer of those benefits and when the Group recognises costs for a restructuring. If benefits are not expected to be settled wholly within 12 months of the reporting date, then they are discounted. l. Provisions (other than for employee benefits) A provision is recognised if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows (representing the best estimate of the expenditure required to settle the present obligation at the balance sheet date) at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. ll

|184| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Chapter 10 Ind AS 20 — Accounting for Government Grants and Disclosure of Government Assistance 1. ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset. Royalty on Cargo Waterfront royalty cargo under the various concession/ sub concession agreement is paid at concessional rate in terms of rate prescribed by respective states Maritime Board (MB) and notified in official gazette of various state Government authorities, wherever applicable. 2. ADANI POWER LIMITED The Group recognises government grants only when there is reasonable assurance that the conditions attached to them will be complied with, and the grants will be received. Where Government grants relates to non-monetary assets, the cost of assets are presented at gross value and grant thereon is recognised as income in the statement of profit and loss over the useful life of the related assets in proportion in which depreciation is charged. Grants related to income are recognised in the statement of profit and loss in the same period as the related cost which they are intended to compensate are accounted for. 3. AMBUJA CEMENT LIMITED Accounting Policies W. Government grants and subsidies I. Grants and subsidies from the Government are recognised when there is reasonable assurance that the grant / subsidy will be received and all attaching conditions will be complied with. II. Where the government grants / subsidies relate to revenue, they are recognised as income on a systematic basis in the statement of profit and loss over the periods necessary to match them with the related costs, which they are intended to compensate. Government grants and subsidies receivable against an expense are deducted from such expense. III. Where the grant or subsidy relates to an asset, it is recognised as income in equal amounts over the expected useful life of the related asset. IV. When the Group receives grants of non-monetary assets, the asset and the grant are recorded at fair value amounts and released to the statement of profit and loss over the expected useful life in a pattern of consumption of the benefit of the underlying asset i.e. by equal annual installments. V. When loans or similar assistance are provided by governments or related institutions, with an interest rate below the current applicable market rate, the effect of this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and measured at fair value and the government grant is measured as the difference between the initial carrying value of the loan and the proceeds received. The loan is subsequently measured as per the accounting policy applicable to financial liabilities.

|185| Chap. 10 – Ind AS 20 — Accounting for Government Grants and Disclosure of Government Assistance Disclosures Note 51 - Government grants (Refer Note 3(W) for accounting policy on government grants and subsidies) Particulars 2018 ` in crore 2017 ` in crore Recognised in consolidated statement of profit and loss Incentives and subsidies (under various incentive schemes of State and Central Governement) 396.53 237.55 Discounting income on interest free VAT loan from State Government 8.81 4.05 Total 405.34 241.60 * There are no unfulfilled conditions or contingencies attached to these grants. 4. APOLLO HOSPITAL ENTERPRISE LIMITED Government grants are not recognised until there is reasonable assurance that the Group will comply with the conditions attaching to them and that the grants will be received. Government grants are recognised in profit or loss on a systematic basis over the periods in which the Group recognises as expenses the related costs for which the grants are intended to compensate. Specifically, government grants whose primary condition is that the Group should purchase, construct or otherwise acquire non-current assets are recognised as deferred revenue in the consolidated balance sheet and transferred to profit or loss on a systematic and rational basis over the useful lives of the related assets. Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Group with no future related costs are recognised in profit or loss in the period in which they become receivable. The benefit of a government loan at a below-market rate of interest is treated as a government grant, measured as the difference between proceeds received and the fair value of the loan based on prevailing market interest rates. 5. BAJAJ AUTO LIMITED Grants from the Government are recognised at their fair value where there is a reasonable assurance that the grant will be received, and the Company will comply with all attached conditions. Government grants relating to income are deferred and recognised in the profit or loss over the period necessary to match them with the costs that they are intended to compensate and presented within other income. Government grants in the nature of export incentives are accounted for in the period of export of goods if the entitlements can be estimated with reasonable accuracy and conditions precedent to claim are reasonably expected to be fulfilled. When loans or similar assistance are provided by Governments or related institutions, with an interest rate below the current applicable market rate, the effect of this favourable interest is regarded as a Government grant. The loan or assistance is initially recognised and measured at fair value and the Government grant is measured as the difference between the initial carrying value of the loan and the proceeds received. The loan is subsequently measured as per the accounting policy applicable to financial liabilities. 6. BHARAT PETROLEUM CORPORATION LIMITED I. Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. II. When the grant relates to an expense item, it is recognized in Consolidated Statement of Profit and Loss on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. III. Government grants relating to Property, Plant and Equipment are presented as deferred income and are credited to the Consolidated Statement of Profit and Loss on a systematic and rational basis over the useful life of the asset.

|186| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 7. CIPLA LIMITED Government grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an asset, it is recognised as income in equal amounts over the expected useful life of the related asset and presented within other income. When loans or similar assistance are provided by the Government or related institutions, with an interest rate below the current applicable market rate, the effect of this favourable interest is regarded as a government grant. Government grants that are receivable on satisfying export or revenue conditions with no future related cost are recognised in the consolidated profit or loss in the period in which such conditions are met. The loan or assistance is initially recognised and measured at fair value and the government grant is measured as the difference between initial carrying value of the loan and the proceeds received. The loan is subsequently measured at amortised cost. Export entitlement from Government authority are recognised in the consolidated profit or loss as other operating revenue when the right to receive credit as per the terms of the scheme is established in respect of the exports made by the Group and where there is no significant uncertainty regarding the ultimate collection of the relevant export proceeds. 8. GMR INFRASTRUCTURE LIMITED Government grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognised as income in equal amounts over the expected useful life of the related asset. When the Group receives grants of non-monetary assets, the asset and the grant are recorded at fair value amounts and released to profit or loss over the expected useful life in a pattern of consumption of the benefit of the underlying asset i.e. by equal annual instalments. When loans or similar assistance are provided by governments or related institutions, with an interest rate below the current applicable market rate, the effect of this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and measured at fair value and the government grant is measured as the difference between the initial carrying value of the loan and the proceeds received. The loan is subsequently measured as per the accounting policy applicable to financial liabilities. 9. GRASIM INDUSTRIES LIMITED Government grants are recognised when there is a reasonable assurance that the same will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised in the Statement of Profit and Loss by way of a deduction to the related expense on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognised as income on a systematic basis over the expected useful life of the related asset. Government grants, that are receivable towards capital investments under State Investment Promotion Scheme, are recognised in the Statement of Profit and Loss when they become receivable. The benefit of a government loan at a below-market rate of interest is treated as a government grant, measured as the difference between proceeds received and the fair value of the loan based on prevailing market interest rates, and is being recognised in the Statement of Profit and Loss. When the Group receives grants of nonmonetary assets, the asset and the grant are recorded at fair value amounts and released to profit or loss over the expected useful life in a pattern of consumption of the benefit of the underlying asset. 10. GVK POWER AND INFRASTRUCTURE LIMITED Accounting Policy Government grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is reduced from the related expense which it is intended to compensate. When the grant relates to an asset, a deferred income is recognised and is released to profit or loss on systematic basis over useful life of the asset and is reduced from the related depreciation and amortisation expenses

|187| Chap. 10 – Ind AS 20 — Accounting for Government Grants and Disclosure of Government Assistance Disclosure Other non current liabilities As at March 31, 2019 As at March 31, 2018 Deferred lease income pertaining to security deposits from concessionaires 68,895 65,411 Deferred Income pertaining to Airport assets (Government Grant) (Refer note below) Advance from customers — — Soft Loan towards Pre-development works 70,504 — Reimbursement of pre-operative expenses 1,738 — 212,596 123,031 A. Government Grant (Airport Development Fees) As at March 31, 2019 As at March 31, 2018 Opening balance 76,257 66,155 Grants during the year 34,871 28,851 Less: Taken to statement of profit and loss (refer note 37) (19,768) (18,749) Closing Balance 91,360 76,257 Government Grant Current Portion (refer note 32) 19,901 18,637 Non-current Portion (refer note 27) 71,459 57,620 91,360 76,257 B. Government Grant (Navi Mumbai Airport) As at March 31, 2019 As at March 31, 2018 Soft loan towards pre-development works Opening balance — — Grants during the year 71,460 — Less: Released against interest (297) — Closing Balance 71,163 — Reimbursement of pre-operative expenses Opening balance — — Grants during the year 3,185 — Less: Released against interest (589) — Closing Balance 2,596 — Total 73,759 Current Portion (refer note 32) 1,517 — Non-current Portion (refer note 27) 72,242 — 73,759 — 11. HERO MOTOCORP LIMITED Government grants are not recognised until there is reasonable assurance that the Company will comply with the conditions attaching to them and that the grants will be received. Government grants are recognised in the Statement of profit and loss on a systematic basis over the periods in which the Company recognises as expenses the related costs, if any, for which the grants are intended to compensate.

|188| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 12. HINDUSTAN CONSTRUCTION COMPANY LIMITED Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all attached conditions. Government grants relating to income are deferred and recognised in the profit and loss over the period necessary to match them with the costs that they are intended to compensate and presented within other income. Government grants relating to the purchase of property, plant and equipment are included in noncurrent liabilities as deferred income and are credited to profit or loss on a straight line basis over the expected lives of the related assets and presented with other income 13. HINDUSTAN PETROLEUM CORPORATION LIMITED I. Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. II. When the grant relates to an expense item, it is recognized in Statement of Profit and Loss on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. III. When the grant relates to property, plant and equipment, the cost of property, plant and equipment is shown at gross value and grant thereon is treated as liability (deferred income) and are credited to statement of profit and loss on a systematic basis over the useful life of the asset 14. HINDUSTAN UNILEVER LIMITED Grant (UIEL) The Company is entitled to the scheme of ”Interest Equalisation on Pre and Post Shipment rupee export credit loan” under which it receives interest subsidy. Grant in the nature of interest is initially recognised and measured at fair value and the grant is measured as the difference between the initial carrying value of the loan and the proceeds received. Such grants are deferred and recognised in the profit or loss over the period necessary to match them with the costs that they are intended to compensate and reduced from corresponding cost. The loan is subsequently measured as per the accounting policy applicable to financial liabilities. Government Grant The Company is entitled to ‘Scheme of budgetary support’ under Goods and Service Tax Regime in respect of eligible manufacturing units located in specified regions. Such grants are measured at amount receivable from the government and are recognised as other operating revenue when there is a reasonable assurance that the Company will comply with all necessary conditions attached to that. Income from such grants is recognised on a systematic basis over the periods to which they relate. Government grant disclosed under Revenue from Operations Note 26 : Revenue From Operations Particulars Year ended 31st March, 2019 Year ended 31st March, 2018 Sale of products (including excise duty*) 38,579 35,474 Sale of services 105 97 Other operating revenue Income from services rendered 297 360 Others (including government grant, scrap sales, export incentives, etc.) 329 307 39,310 36,238 Total government grant recognized ` 173 crores (FY 2017-18 ` 172 crores) * Upto 30th June, 2017

|189| Chap. 10 – Ind AS 20 — Accounting for Government Grants and Disclosure of Government Assistance 15. INDIAN RAILWAY CATERING AND TOURISM CORPORATION LIMITED Accounting Policy y) Grants i. Government grants relating to purchase of property, plant and equipment are included in liabilities a deferred income and credited to profit of loss over the on systemetic basis over the expected life of the related assets and presented within other income. ii. Grants relating to the renevue expenditure are adjusted against the related expenses. The untilized portion of revenue and capital grant is strown as liability. iii. Government grant in the form of Non-monetary asset is recognized at fair value and presented in balance sheet by setting up the grant as deferred income. Disclosure Extract of Note 3.1 to Note No. 3 of Property, Plant and Equipment Note: 3.1 During the F.Y. 2009-10, the Company acquired a Pan India Luxury Tourist Train. The total cost of said train was ` 5,046.57 Lakh. The Tourism Ministry had given capital subsidy of ` 1,237.00 Lakh which has been recognised as deferred grant and amortised in the proportion of the depreciation. Note : 3.2 During the F/Y 2017-18 corporation has transfered ` 464.66 to Investment property from leasehold/ freehold Land. 16. INDIAN TOBACCO COMPANY LIMITED Group entities may receive government grants that require compliance with certain conditions related to the entity’s operating activities or are provided to the entity by way of financial assistance on the basis of certain qualifying criteria. Government grants are recognised when there is reasonable assurance that the grant will be received upon the Group entity complying with the conditions attached to the grant. Accordingly, government grants: (a) related to or used for assets, are deducted from the carrying amount of the asset. (b) related to incurring specific expenditures are taken to the Statement of Profit and Loss on the same basis and in the same periods as the expenditures incurred. (c) by way of financial assistance on the basis of certain qualifying criteria are recognised as they become receivable. In the unlikely event that a grant previously recognised is ultimately not received, it is treated as a change in estimate and the amount cumulatively recognised is expensed in the Statement of Profit and Loss. 17. MATRIMONY.COM LIMITED Significant Accounting Policies Government Grants Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed.

|190| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Disclosures Particulars Year ended March 31, 2019 Year ended March 31, 2018 21 Other income (Continued) ** Government grants At April 1 — — Received during the year 122.88 — Released to the statement of profit and loss (122.88) — At March 31 — — Government grant have been received under Pradhan Mantri Rojgar Protsahan Yojna (‘PMRPY’) scheme for incentivising employers for generation of new employments. 18. MINDTREE LIMITED Accounting Policy Grants from the Government are recognised when there is reasonable assurance that: • the Company will comply with the conditions attached to them; and • the grant will be received. Government grants related to revenue are recognised on a systematic basis in the statement of profit and loss over the periods necessary to match them with the related costs which they are intended to compensate. Such grants are deducted in reporting the related expense. When the grant relates to an asset, it is recognized as income over the expected useful life of the asset. Where the Company receives non-monetary grants, the asset is accounted for on the basis of its acquisition cost. In case a non-monetary asset is given free of cost it is recognised at a fair value. When loan or similar assistance are provided by the government or related institutions, with an interest rate below the current applicable market rate, the effect of this favourable interest is recognized as government grant. The loan or assistance is initially recognized and measured at fair value and the government grant is measured as the difference between the initial carrying value of the loan and the proceeds received. A repayment of government grant is accounted for as a change in accounting estimate. Repayment of grant is recognised by reducing the deferred income balance, if any and the rest of the amount is charged to statement of profit and loss Disclosure 26. Government grants a) The Company has a development center at Gainesville, Florida, US. The state of Florida has offered various incentives targeted to the needs of the development center. The nature and the extent of the government grant is given below: Nature of expenses For the year ended March 31, 2019 March 31, 2018 Grant towards workforce training - 2 Total - 2 19. NATIONAL STEEL AND AGRO INDUSTRY LIMITED Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to revenue, it is recognized in the statement of profit and loss on a systematic basis over the periods to which they relate. When the grant relates to an asset, it is treated as deferred income and recognized in the statement of profit and loss on a systematic basis over the useful life of the asset.

|191| Chap. 10 – Ind AS 20 — Accounting for Government Grants and Disclosure of Government Assistance 20. OIL AND NATURAL GAS CORPORATION LIMITED ccounting Policies 3.10 Government Grant Government grants, including non-monetary grants at fair value, are not recognised until there is reasonable assurance that the Group will comply with the conditions attached to them and that the grants will be received. Government grants are recognised in Consolidated Statement of Profit and Loss on a systematic basis over the periods in which the Group recognises as expenses the related costs for which the grants are intended to compensate. Government grants whose primary condition is that the Group should purchase, construct or otherwise acquire non-current assets and non-monetary grants are recognised and disclosed as 'deferred income' under non-current liability in the Consolidated Balance Sheet and transferred to the Consolidated Statement of Profit and Loss on a systematic and rational basis over the useful lives of the related assets. The benefit of a government loan at a rate below the market rate of interest is treated as a government grant, and is measured as the difference between proceeds received and the fair value of the loan based on prevailing market interest rates. Disclosures 32 Other liabilities Particulars As at March 31, 2019 As at March 31, 2018 Non-current Current Non-current Current Liability for Statutory Payments — 50,935.30 — 50,559.39 Advance from Customers — 9,687.11 — 8,282.31 Contract Liability-Advance MGO (Note 32.4 & 32.5) 236.74 3,212.73 — 888.54 Deferred government grant (Refer note 32.1, 7.3.7 and 28.13.2) 10,449.93 212.09 11,409.98 227.50 Other Liabilities 1,588.48 5,134.86 413.01 6,700.83 Total 12,275.15 69,182.09 11,822.99 66,658.57 32.1 Includes ` 6,795.16 million (Previous year ` 7,615.73 million) net of amortisation in respect of Tapti A series assets, facilities and inventory which were a part of the assets of PMT Joint Operation and surrendered by the JO to the Government of India as per the terms and conditions of the JO Agreement. These assets, facilities and inventory have been transferred by Government of India to the Company free of cost as its nominee. The Company has assessed the fair value of the said assets & facilities at ` 7,156.89 million based on the valuation report by a third party agency, which has been accounted as Oil & gas Asset with a corresponding liability as Deferred Government Grant. Inventory valuing ` 458.84 million has been accounted with a corresponding liability as Deferred Government Grant. During the year Government grant liability has been amortised to Misc. receipt` 820.58 million (previous year ` Nil) to the extent of depletion charged ` 760.24 million (` Nil) on Tapti A series asset and facilities & consumption of inventories ` 60.34 million (previous year ` Nil). 59. Subsidiary OMPL operates in special economic zone (SEZ) in Mangalore, accordingly is eligible for certain economic benefits such as exemptions from GST, custom duty, excise duty, service tax, value added tax, entry tax, etc. which are in the nature of government assistance. These benefits are subject to fulfillment of certain obligations by the Company. 21. PIRAMAL ENTERPRISES LIMITED Accounting Policy Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and the group will comply with all attached conditions.

|192| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Government grants relating to income are deferred and recognised in the profit or loss over the period necessary to match them with the costs that they are intended to compensate and presented within other income. Government grants relating to purchase of property, plant and equipment are included in non-current liabilities as deferred income and are credited to profit or loss on a straight line basis over the expected lives of the related assets and presented within other income. Disclosure 22. OTHER NON-CURRENT LIABILITIES (` in Crores) As at March 31, 2019 As at March 31, 2018 Deferred Government grant related to assets 2.65 3.63 Other grants related to assets 90.93 72.36 Deferred Revenue 21.43 - Total 115.01 75.99 22. RALLIES INDIA LIMITED Government grants and subsidies are recognized when there is reasonable assurance that the Group will comply with the conditions attached to them and the grants / subsidy will be received. Government grants whose primary condition is that the Group should purchase, construct or otherwise acquire capital assets are presented by deducting them from the carrying value of the assets. The grant is recognized as income over the life of a depreciable asset by way of a reduced depreciation charge. Export benefits are accounted for in the year of exports based on eligibility and when there is no uncertainty in receiving the same. Government grants in the nature of promoters’ contribution like investment subsidy, where no repayment is ordinarily expected in respect thereof, are treated as capital reserve. Government grants in the form of nonmonetary assets, given at a concessional rate, are recorded on the basis of their acquisition cost. In case the non-monetary asset is given free of cost, the grant is recorded at a nominal value. Other government grants and subsidies are recognized as income over the periods necessary to match them with the costs for which they are intended to compensate, on a systematic basis. 23. SIYARAM SILK MILLS LIMITED Significant Accounting Policies Government grants and subsidies: i) Grants from the Government are recognized at their fair value where there is reasonable assurance that the grant will be received and the group will comply with all attached conditions. ii) When the grant or subsidy relates to an expense item, it is recognized as income over the periods necessary to match them on a systematic basis to the costs, which it is intended to compensate. iii) Government grants relating to the purchase of property, plant and equipment are included in noncurrent liabilities as deferred income and are credited to Statement of Profit and Loss on a straight-line basis over the expected lives of related assets and presented within other income. Disclosures Particulars Year ended March 31, 2019 Year ended March 31, 2018 30) Other Income : a) Miscellaneous Income 56.32 1 06.80

|193| Chap. 10 – Ind AS 20 — Accounting for Government Grants and Disclosure of Government Assistance Particulars Year ended March 31, 2019 Year ended March 31, 2018 b) Interest Received 2,079.79 1,546.62 c) Rent Received 380.85 492.79 d) Profit on Sale of Assets (Net) 111.36 308.06 e) Exchange Rate Difference (Net) — 25.76 f) Apportioned Income from Government Grant (Refer Note No.45) 186.19 153.57 2,814.51 2,633.60 Particulars AS AT 31-03-2019 AS AT 31-03-2018 23) Other Non Current Liabilities : a) Creditors for Capital Goods 316.98 236.77 b) Government Grant # 1,092.67 516.50 1,409.65 753.27 # Represents unamortised amount of duty saved referred to in note 45. Particulars AS AT 31-03-2019 AS AT 31-03-2018 27) Other Current Liabilities : a) Advance Received from Customer 114.42 336.34 b) Other Payables i) Statutory Dues 247.27 683.47 ii) Employees Dues 2,356.71 2,250.20 iii) Security Deposit 95.90 23.48 iv) Government Grant # 240.17 920.79 v) Others 16.05 112.73 2,956.10 3,990.67 3,070.52 4,327.01 # Represents unamortised amount of duty saved referred to in note 45. Note 45: Export promotion capital goods (EPCG): Export Promotion Capital Goods (EPCG) scheme allows import of certain capital goods including spares at concessional duty subject to an export obligation for the duty saved on capital goods imported under EPCG scheme. The duty saved on capital goods imported under EPCG scheme being Government Grant, is accounted as stated in the Accounting policy on Government Grant. 24. TATA CHEMICALS LIMITED Significant Accounting Policies 1.1 Government grants Government grants and subsidies are recognized when there is reasonable assurance that the Group will comply with the conditions attached to them and the grants and subsidies will be received. Government grants whose primary condition is that the Group should purchase, construct or otherwise acquire noncurrent assets are recognized as deferred revenue in the Consolidated Balance Sheet and transferred to

|194| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts the Consolidated Statement of Profit and Loss on systematic and rational basis over the useful lives of the related asset. Disclosures 10. Other financial assets Particulars As at March 31, 2019 As at March 31, 2018 Non-Current (a) Fixed deposits with banks 0.69 0.85 (b) Deposit with others 4.77 4.56 (c) Derivatives (note 40) 1.89 17.60 7.35 23.01 Current (a) Claim receivable - Related party (note 43) 0.50 0.13 (b) Derivatives (note 40) 54.65 45.88 (c) Accrued income 53.39 79.70 (d) Advance recoverable - Related party 1.03 16.24 (e) Subsidy receivable (footnote 'i') 224.75 — (f) Others 6.47 5.17 340.79 147.12 Footnote: (i) Subsidy receivable from the Government relates to Phosphatic Fertiliser business and Trading business. Subsidy receivable as at March 31, 2018 is reflected in note 34. 22. Other liabilities ` in crore Particulars As at March 31, 2019 As at March 31, 2018 Non-current (a) Pension payable on employee seperation 0.24 0.29 (b) Deferred income (including government grants) 27.76 29.22 (c) Others 40.25 37.21 68.25 66.72 Current (a) Statutory dues 134.94 105.07 (b) Advance received from customers 92.66 81.67 (c) Deferred income (including government grants and emission trading allowance) 10.34 12.71 (d) Others 11.85 4.64 249.79 204.09

|195| Chap. 10 – Ind AS 20 — Accounting for Government Grants and Disclosure of Government Assistance Footnotes: i. (a) The Department of Fertilizers, Government of India, has notified 'Special Banking Arrangement' scheme to address the concern of delay in subsidy disbursement. This arrangement has been made by the Government with the State Bank of India Consortium (SBI Consortium). Loans under this scheme are secured by hypothecation of subsidy receivables. Fixed interest rate of 7.80% per annum out of which 6.84% per annum shall be borne by the Government and repaid in April 2018. The remaining 0.96% per annum shall be borne by the Company and will be recovered upfront for 60 days from the Company at the time of disbursement of the facility. Balance as at March 31, 2019: ` Nil [2018: ` 307.95 crore]. (b) Cash credit (Secured) of ` Nil (2018: ` 2.13 crore) ii. Subsidy receivables and borrowings related to Phosphatic fertilisers and Trading business along with the related revenue and expenses are disclosed as discontinued operations. These receivables and borrowings are not transferred on disposal of business (note 10). 25. TATA COFFEE LIMITED Government grants including any non-monetary grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. Government grants are recognised in the statement of profit and loss on a systematic basis over the periods in which the related costs, for which the grants are intended to compensate, are recognised as expenses. Government grants related to property, plant and equipment are presented at fair value and grants are recognised as deferred income. 26. TORRENT POWER LIMITED Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all the attached conditions. Government grants relating to income are recognised in profit or loss on a systematic basis over the periods in which the Group recognises as expenses the related costs for which the grants are intended to compensate. Government grants relating to purchase of property, plant and equipment whose primary condition is that the Group should purchase, construct or otherwise acquire property, plant and equipment are recognised as deferred revenue in the consolidated balance sheet and transferred to profit or loss on a systematic and rational basis over the useful lives of the related assets. 27. TVS MOTOR COMPANY LIMITED Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all attached conditions. Government grants receivable as compensation for expenses or financial support are recognized in profit or loss of the period in which it becomes available. Government grants relating to the purchase of property, plant and equipment are included in non-current liabilities as deferred income and are credited to profit or loss on a straight-line basis over the expected lives of the related assets and presented within other income. In case of waiver of duty under EPCG licence, such grant is considered as revenue grant and recognized in statement of profit and loss on completion of export obligation as approved by Regulatory Authorities.

|196| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Government grant shown under Revenue from Operation – export incentives, Other Income for other grants ` in crores Revenue From Operations Particulars Year ended 31st March, 2019 Year ended 31st March, 2018 Sale of products 18,230.59 15,669.43 * Sale of raw materials – 58.20 Sale of services 28.02 16.55 Interest income of financial enterprise 1,457.46 669.70 Other operating revenue# 443.92 287.87 20,159.99 16,701.75 *Includes excise duty upto June 2017. # Includes Government Grants (export incentives) of ` 176.60 crores (last year ` 119.05 crores) Other Income Particulars Year ended 31st March, 2019 Year ended 31st March, 2018 Dividend income - from investments designated as Fair Valued through OCI 0.94 0.60 Interest income 4.36 2.54 Profit on sale of investments (Net) 1.01 – Profit on sale of fixed assets (Net) – 2.63 Changes in fair value of investments (Net) – 58.71 * Fair value changes on derivatives not designated as hedges – 19.04 Bad debts recovered 9.16 4.42 Government grant – 9.67 # Other non-operating income 9.97 2.00 25.44 99.61 * Increase in fair value of investments represents changes in fair value of preference shares held in TVS Motor Services Limited and Other non-current investments. # Relatable to operations of the Company. 28. ULTRATECH CEMENT LIMITED Accounting Policies (l) Government Grants: Government grants, related to assets, are recognised in the Statement of Profit and Loss on a systematic basis over the periods in which the Company recognises the related costs for which the grants are intended to compensate. Government grants related to income under State Investment Promotion Scheme linked with VAT / GST payment, are recognised in the Statement of Profit and Loss in the period in which they become receivable. Government grants are not recognised until there is reasonable assurance that the Company will comply with the conditions attached to them and that the grants will be received.

|197| Chap. 10 – Ind AS 20 — Accounting for Government Grants and Disclosure of Government Assistance The benefit of a government loan at a below-market rate of interest is treated as a government grant, measured as the difference between proceeds received and the fair value of the loan based on prevailing market interest rates and is being recognised in the Statement of Profit and Loss. Disclosures NOTE 58: GOVERNMENT GRANT (Ind AS 20) (a) Other Operating Revenues include Incentives against capital investments, under State Investment Promotion Scheme of ` 398.43 Crores (March 31, 2018 ` 300.72 Crores). (b) Sales Tax deferment loan granted under State Investment Promotion Scheme has been considered as a government grant and the difference between the fair value and nominal value as on date is recognised as an income. Accordingly, an amount of ` 45.49 Crores (March 31, 2018: ` 3.86 Crores) has been recognised as an income. Every year change in fair value is accounted for as an interest expense. (c) Interest, Wages Expenses and Repairs to plant and machinery are net of subsidy received, under State Investment Promotion Scheme of ` Nil Crores (March 31, 2018 ` 5.81 Crores), and ` 1.46 Crores (March 31, 2018 ` 0.98 Crores) respectively. 29. VEDANTA LIMITED Accounting Policies (M) Government grants Grants and subsidies from the government are recognised when there is reasonable assurance that (i) the Group will comply with the conditions attached to them, and (ii) the grant/subsidy will be received. When the grant or subsidy relates to revenue, it is recognised as income on a systematic basis in the consolidated statement of profit and loss over the periods necessary to match them with the related costs, which they are intended to compensate. Where the grant relates to an asset, it is recognised as deferred income and released to income in equal amounts over the expected useful life of the related asset and presented within other income. When the Group receives grants of non-monetary assets, the asset and the grant are recorded at fair value amounts and released to profit or loss over the expected useful life in a pattern of consumption of the benefit of the underlying asset. When loans or similar assistance are provided by governments or related institutions, with an interest rate below the current applicable market rate, the effect of this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and measured at fair value and the government grant is measured as the difference between the initial carrying value of the loan and the proceeds received. The loan is subsequently measured as per the accounting policy applicable to financial liabilities. ll

|198| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Chapter 11 Ind AS 21 — The Effects of Changes in Foreign Exchange Rates 1. ALL CARGO LOGISTICS LIMITED Significant Accounting Policies Foreign currencies The Group’s consolidated financial statements are presented in INR, which is also the parent company’s functional currency. For each entity the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. The Group uses the direct method of consolidation and on disposal of a foreign operation the gain or loss that is reclassified to profit or loss reflects the amount that arises from using this method. Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition. However, for practical reasons, the group uses an average rate if the average approximates the actual rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency closing rates of exchange at the reporting date. Exchange differences arising on settlement or translation of monetary items are recognized in the Statement of Profit and Loss. Exchange differences arising on settlement or translation of monetary items are recognized in profit or loss with the exception of the following: a. Exchange differences arising on monetary items that forms part of a reporting entity’s net investment in a foreign operation are recognized in profit or loss in the separate financial statements of the reporting entity or the individual financial statements of the foreign operation, as appropriate. In the financial statements that include the foreign operation and the reporting entity (e.g. consolidated financial statements when the foreign operation is a subsidiary), such exchange differences are recognized initially in OCI. These exchange differences are reclassified from equity to profit or loss on disposal of the net investment. b. Tax charges and credits attributable to exchange differences on those monetary items are also recorded in OCI Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognized in OCI or profit or loss are also recognized in OCI or profit or loss, respectively). Exchange differences arising on translation / settlement of foreign currency monetary items are recognized as income or expenses in the period in which they arise. Group Companies On consolidation, the assets and liabilities of foreign operations are translated into INR at the rate of exchange prevailing at the reporting date and their statements of profit or loss are translated at exchange rates prevailing at the dates of the transactions. For practical reasons, the group uses an average rate to translate income and expense items, if the average rate approximates the exchange rates at the dates of the transactions. The exchange differences arising on translation for consolidation are recognized in OCI. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is recognized in profit or loss.

|199| Chap. 11 – Ind AS 21 — The Effects of Changes in Foreign Exchange Rates Any goodwill arising in the acquisition/ business combination of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign operation and translated at the spot rate of exchange at the reporting date. Cumulative currency translation differences for all foreign operations are deemed to be zero at the date of transition, viz., 1 April 2015. Gain or loss on a subsequent disposal of any foreign operation excludes translation differences that arose before the date of transition but includes only translation differences arising after the transition date. Nature and Purpose of Reserves a) Foreign currency Translation Reserve Exchange difference arising on translation of assets, liabilities, income and expenses of the Group’s foreign subsidiaries, associates and joint ventures are recognized in other comprehensive income and accumulated separately in foreign currency translation reserve. 2. ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED The Group’s consolidated financial statements are presented in INR, which is also the parent company’s functional currency. For each entity the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. However, for practical reasons, the Group entities use an average rate if the average approximates the actual rate at the date of transaction. The Group uses the direct method of consolidation and on disposal of a foreign operation the gain or loss that is reclassified to profit or loss reflects the amount that arises from using this method. Transactions and balances Transactions in foreign currencies are initially recorded by the Group entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Exchange differences arising on settlement or translation of monetary items are recognized in profit or loss with the exceptions for which below treatment is given as per the option availed under Ind AS 101. i. Exchange differences, arising on long-term foreign currency monetary items related to acquisition of a property, plant and equipment (including funds used for project work-in-progress) recognised in the Indian GAAP financial statements for the period ending immediately before the beginning of the first Ind AS financial reporting period i.e. March 31, 2016 are capitalised / decapitalised to cost of fixed assets and depreciated over the remaining useful life of the asset. ii. Exchange differences arising on other outstanding long term foreign currency monetary items recognised in the Indian GAAP financial statements for the period ending immediately before the beginning of the first Ind AS financial reporting period i.e. March 31, 2016 are accumulated in the “Foreign Currency Monetary Item Translation Difference Account” (FCMITDA) and amortized over the remaining life of the concerned monetary item or financial year 2019-20, whichever is earlier. Nonmonetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Group companies On consolidation, the assets and liabilities of foreign operations are translated into INR at the rate of exchange prevailing at the reporting date and their statements of profit or loss are translated at exchange rates prevailing at the dates of the transactions. For practical reasons, the group uses an average rate to translate income and expense items, if the average rate approximates the exchange rates at the dates of the transactions. The exchange differences arising on translation for consolidation are recognised in OCI. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is recognised in profit or loss.

|200| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 3. AJANTA PHARMA LIMITED In case of foreign operations whose functional currency is different from the parent company’s functional currency, the assets and liabilities of such foreign operations, including goodwill and fair value adjustments arising upon acquisition, are translated to the reporting currency at exchange rates at the reporting date. The income and expenses of such foreign operations are translated to the reporting currency at the monthly average exchange rates prevailing during the year. Resulting foreign currency differences are recognized in other comprehensive income/ (loss) and presented within equity as part of FCTR. When a foreign operation is disposed of, in part or in full, the relevant amount in the FCTR is reclassified to the Consolidated Statement of Profit and Loss as a part of gain or loss on disposal. 4. BHARAT PETROLEUM CORPORATION LIMITED I. Monetary items Transactions in foreign currencies are initially recorded at their respective exchange rates at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at exchange rates prevailing on the reporting date. Exchange differences arising on settlement or translation of monetary items (except for long term foreign currency monetary items outstanding as of 31st March 2016) are recognized in Consolidated Statement of Profit and Loss either as profit or loss on foreign currency transaction and translation or as borrowing costs to the extent regarded as an adjustment to borrowing costs. The Group has elected to continue the policy adopted under Previous GAAP for accounting the foreign exchange differences arising on settlement or translation of long-term foreign currency monetary items outstanding as of 31st March 2016 i.e. foreign exchange differences arising on settlement or translation of long-term foreign currency monetary items relating to acquisition of depreciable assets are adjusted to the carrying cost of the assets and depreciated over the balance life of the asset and in other cases, if any, accumulated in “Foreign Currency Monetary Item Translation Difference Account” and amortized over the balance period of the liability. II. Non – Monetary items Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. III. In case of Group companies of BPRL, the results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: Assets and liabilities are translated at the closing rate at the date of that balance sheet. Income and expenses are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions) and All resulting exchange differences are recognised in other comprehensive income. On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognised in other comprehensive income. When a foreign operation is sold, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale. Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the closing rate

|201| Chap. 11 – Ind AS 21 — The Effects of Changes in Foreign Exchange Rates 5. BHARTI AIRTEL LIMITED Accounting policies 2.5 Foreign currency transactions a. Functional and presentation currency The items included in financial statements of each of the Group’s entities are measured using the currency of primary economic environment in which the entity operates (i.e. ‘functional currency’). The financial statements are presented in Indian Rupees which is the functional and presentation currency of the Company. b. Transactions and balances Transactions in foreign currencies are initially recorded in the relevant functional currency at the rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the closing exchange rate prevailing as at the reporting date with the resulting foreign exchange differences, on subsequent re-statement / settlement, recognised in the statement of profit and loss within finance costs / finance income. Non-monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the exchange rate prevalent, at the date of initial recognition (in case they are measured at historical cost) or at the date when the fair value is determined (in case they are measured at fair value) – the resulting foreign exchange difference, on subsequent re-statement / settlement, recognised in the statement of profit and loss, except to the extent that it relates to items recognised in the other comprehensive income or directly in equity. The equity items denominated in foreign currencies are translated at historical cost. c. Foreign operations The assets and liabilities of foreign operations (including the goodwill and fair value adjustments arising on the acquisition of foreign entities) are translated into Rupees at the exchange rates prevailing at the reporting date whereas their statements of profit and loss are translated into Rupees at monthly average exchange rates and the equity is recorded at the historical rate. The resulting exchange differences arising on the translation are recognised in other comprehensive income and held in foreign currency translation reserve (‘FCTR’), a component of equity. On disposal of a foreign operation (that is, disposal involving loss of control), the component of other comprehensive income relating to that particular foreign operation is reclassified to profit or loss. 6. CHAMBAL FERTILISERS AND CHEMICALS LIMITED The foreign exchange risk of the Company arises mainly out of import of fertilisers and foreign currency borrowings. The major part of the long term borrowings of the Company comprises of External Commercial Borrowings/ Foreign currency Term Loans availed for financing of new Urea plant of the Company. The repayment of these borrowings will commence during the Financial Year 2019-20. The payment of subsidy on Urea produced and sold from new Urea plant is governed by New Investment Policy – 2012 of the Government of India. The revenue of the Company from new Urea Plant is linked to US Dollars in terms of New Investment Policy 2012. Accordingly, the Company has natural hedge against fluctuation of foreign exchange rates and did not enter into transactions to hedge foreign exchange risk in respect of aforesaid foreign currency borrowings. In order to mitigate the foreign exchange risk in respect of imported fertilisers, the Company continuously monitors its foreign exchange exposure and hedges its foreign exchange risk in this regard, to the extent considered necessary, through forward contracts and option structures. As on March 31, 2019, the major portion of foreign exchange exposure of the Company in respect of imported fertilisers was hedged by the Company through foreign exchange hedging transactions. The details of foreign currency risk and hedging activities are also given in the Notes to Financial Statements.

|202| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 7. GMR INFRASTRUCTURE LIMITED Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition. However, for practical reasons, the group uses an average rate if the average approximates the actual rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss with the exception of the following: • Exchange differences arising on monetary items that forms part of a reporting entity’s net investment in a foreign operation are recognised in profit or loss in the separate financial statements of the reporting entity or the individual financial statements of the foreign operation, as appropriate. In the financial statements that include the foreign operation and the reporting entity (e.g., consolidated financial statements when the foreign operation is a subsidiary), such exchange differences are recognised initially in OCI. These exchange differences are reclassified from equity to profit or loss on disposal of the net investment. • Exchange differences arising on monetary items that are designated as part of the hedge of the Group’s net investment of a foreign operation. These are recognised in OCI until the net investment is disposed of, at which time, the cumulative amount is reclassified to profit or loss. • Tax charges and credits attributable to exchange differences on those monetary items are also recorded in OCI. • Exchange differences arising on translation of long term foreign currency monetary items recognised in the financial statements before the beginning of the first Ind AS financial reporting period in respect of which the Group has elected to recognise such exchange differences in equity or as part of cost of assets as allowed under Ind AS 101-“First time adoption of Indian Accounting Standard” are recognised directly in equity or added/ deducted to/ from the cost of assets as the case may be. Such exchange differences recognised in equity or as part of cost of assets is recognised in the statement of profit and loss on a systematic basis. 8. HCL TECHNOLOGIES LIMITED The Group’s consolidated financial statements are presented in Indian Rupee (`), which is also the parent company’s functional currency. For each entity, the Group determines the functional currency, and items included in the financial statements of each entity are measured using that functional currency. The Group uses the direct method of consolidation and on disposal of a foreign operation the gain or loss that is reclassified to the statement of profit and loss reflects the amount that arises from using this method. Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency spot rates at the date of the transaction. Foreign currency denominated monetary assets and liabilities are translated to the relevant functional currency at exchange rates in effect at the balance sheet date. Exchange differences arising on settlement or translation of monetary items are recognized in the statement of profit and loss. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of initial transaction. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchange rate prevalent at the date when the fair value was determined. Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net profit for the year. Revenue, expenses and cash-flow items denominated in foreign currencies are translated into the relevant functional currencies using the exchange rate in effect on the date of the transaction.

|203| Chap. 11 – Ind AS 21 — The Effects of Changes in Foreign Exchange Rates The translation of foreign operations from respective functional currency into INR (the reporting currency) for assets and liabilities is performed using the exchange rates in effect at the balance sheet date, and for revenue, expenses and cash flows is performed using an appropriate daily weighted average exchange rate for the respective years. The exchange differences arising on translation for consolidation are reported as a component of ‘other comprehensive income (loss)’. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is recognized in the statement of profit and loss. 9. HEALTHCARE GLOBAL ENTERPRISE LIMITED The Group’s exchange risk arises mainly from its foreign currency borrowings. As a result, depreciation of Indian rupee relative to these foreign currencies will have a significant impact on the financial performance of the Group. The exchange rate between the Indian rupee and these foreign currencies has changed substantially in recent periods and may continue to fluctuate substantially in the future. 10. JAGRAN PRAKASHAN LIMITED Functional and presentation currency Items included in the financial statements of the Group are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The financial statements are presented in Indian rupee (`), which is Group’s functional and presentation currency. Transactions and balances Effective April 1, 2018, the Group has adoptedAppendix B to Ind AS 21, Foreign Currency Transactions and Advance Consideration which clarifies the date of transaction for the purpose of determining the exchange rate to be used on initial recognition of the related asset, expense or income when an entity has received or paid advance consideration in a foreign currency. The effect on account of adoption of this amendment is insignificant Foreign exchange differences regarded as an adjustment to borrowing costs are presented in the Statement of Profit and Loss, within finance costs. All other foreign exchange gains and losses are presented in the Statement of Profit and Loss on a net basis within other gains/(losses). Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equity instruments held at fair value through profit or loss are recognised in profit or loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equity investments classified as FVTOCI are recognized in other comprehensive income. 11. KANSAI NEROLAC PAINTS LIMITED a) Significant Accounting Policies Foreign Currency Transactions Functional currency is the currency of the primary economic environment in which the Group operates whereas presentation currency is the currency in which the Consolidated Financial Statements are presented. Indian Rupee is the functional as well as presentation currency for the Group. A foreign currency transaction is recorded, on initial recognition in the functional currency, by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. At the end of each reporting period, foreign currency monetary items are translated using the closing rate whereas non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction; and non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured.

|204| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts At the end of each reporting period, foreign currency monetary items are translated using the closing rate whereas non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction; and non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured. Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition during the period or in previous Consolidated Financial Statements are recognized in the Consolidated Statement of Profit and Loss in the period in which they arise. When a gain or loss on a non-monetary item is recognized in Other Comprehensive Income, any exchange component of that gain or loss is recognized in Other Comprehensive Income. Conversely, when a gain or loss on a non-monetary item is recognized in Consolidated Statement of Profit and Loss, any exchange component of that gain or loss is recognized in Consolidated Statement of Profit and Loss. b) Nature and Purpose of Reserves Foreign currency translation Reserve These comprise of all exchange differences arising from translation of financial statements of foreign subsidiaries. c) Notes to Accounts Foreign Currency Translation Reserve Foreign Currency Translation Reserve As at 31st March, 2019 As at 31st March, 2018 Opening Balance (0.68) (0.62) Exchange differences on translation of foreign operations (0.79) (0.06) Closing Balance (1.47) (0.68) 12. MAHINDRA LIFESPACE DEVELOPERS LIMITED Transactions in foreign currencies i.e. other than the Group’s functional currency are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Exchange differences on monetary items are recognised in profit or loss in the period in which they arise except for: • Exchange differences on foreign currency borrowings relating to assets under construction for future productive use, which are included in the cost of those assets when they are regarded as an adjustment to interest costs on those foreign currency borrowings; and • Exchange differences on transactions entered to hedge certain foreign currency risks. 13. METROPOLIS HEALTHCARE LIMITED Foreign currency transactions: Foreign currency transactions are recorded on initial recognition in the functional currency using the exchange rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate at the reporting date. Non-monetary items that are measured based on historical cost in a foreign currency are translated using the exchange rate at

|205| Chap. 11 – Ind AS 21 — The Effects of Changes in Foreign Exchange Rates the date of the initial transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rate at the date the fair value is determined. Exchange differences arising on the settlement or translation of monetary items are recognised in profit or loss in the year in which they arise except exchange differences arising from the translation of items which are recognised in other comprehensive income Foreign operations: The assets and liabilities of foreign operations (subsidiaries, associates, joint arrangements) including goodwill and fair value adjustments arising on acquisition, are translated into Indian `, the functional currency of the Company, at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Indian ` at the exchange rates at the dates of the transactions or an average rate if the average rate approximates the actual rate at the date of the transaction When a foreign operation is disposed of in its entirety or partially such that control, significant influence or joint control is lost, the cumulative amount of exchange differences related to that foreign operation recognised in OCI is reclassified to profit or loss as part of the gain or loss on disposal. If the Group disposes of part of its interest in a subsidiary but retains control, then the relevant proportion of the cumulative amount is re-allocated to NCI. When the Group disposes of only a part of its interest in an associate or a joint venture while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to profit or loss. 14. OIL AND NATURAL GAS CORPORATION LIMITED Accounting Policies 3.21 Foreign Exchange Transactions Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in Indian Rupees (`), which is the Company’s functional currency and the Group’s presentation currency. Transactions in currencies other than the respective entities’ functional currency (foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated using mean exchange rate prevailing on the last day of the reporting period. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the date of transaction. Exchange differences on monetary items are recognised in the consolidated Statement of Profit and Loss in the period in which they arise except for exchange differences on foreign currency borrowings relating to assets under construction for future productive use, which are included in the cost of those assets when they are regarded as an adjustment to interest costs on those foreign currency borrowings. Exchange differences on monetary items are recognised in the consolidated statement of profit and loss in the period in which they arise except for exchange differences on monetary item that forms part of a Group’s net investment in a foreign operation are recognised initially in other comprehensive income and reclassified from equity to the consolidated statement of profit and loss on repayment of the monetary items. Exchange difference arising in respect of long term foreign currency monetary items is recognised in the statement of profit and loss except for the exchange difference related to long term foreign currency monetary items recognized as at March 31, 2016, in so far as, these related to the acquisition of depreciable assets, are adjusted against the cost of such assets and depreciate the said adjustment, over the balance life of asset and in other cases amortised over the balance period of the long term foreign currency monetary assets or liabilities. On the disposal of a foreign operation (i.e. a disposal of the Group’s entire interest in a foreign operation, a disposal involving loss of control over a subsidiary that includes a foreign operation, or a partial disposal of an interest in a joint arrangement or an associate that includes a foreign operation of which the retained

|206| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts interest becomes a financial asset), all of the exchange differences accumulated in equity in respect of that operation attributable to the owners of the Company are reclassified to the consolidated statement of profit and loss. In addition, in relation to a partial disposal of a subsidiary that includes a foreign operation that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences are re-attributed to noncontrolling interests and are not recognised in the consolidated statement of profit and loss. For all other partial disposals (i.e. partial disposals of associates or joint arrangements that do not result in the Group losing significant influence or joint control), the proportionate share of the accumulated exchange differences is reclassified to the consolidated statement of profit and loss. Goodwill and fair value adjustments to identifiable assets acquired and liabilities assumed through acquisition of a foreign operation are treated as assets and liabilities of foreign operation and translated at rate of exchange prevailing at the end of each reporting period. Exchange differences arising are recognised in other comprehensive income. Entities with functional currency other than presentation currency are translated to the presentation currency in Indian Rupees (`). The Group has applied the following principles for translating its results and financial position from functional currency to presentation currency (`): • Assets and liabilities (excluding equity share capital and other equity) for each balance sheet presented (i.e. including comparatives) has been translated at the closing rate at the date of that balance sheet; • Equity share capital including equity component of compound financial instruments have been translated at exchange rates at the dates of transaction. Capital reserve has been translated at exchange rate at the dates of transaction. Other reserves have been translated using average exchange rates of the period to which it relates; • Income and expenses for each consolidated statement of profit and loss presented have been translated at exchange rates at the dates of transaction except for certain items average rate for the period is used. 15. ONE97 COMMUNICATION LIMITED Accounting Policies 2.5 Summary of significant accounting policies Functional and presentation currency Items included in the Consolidated Financial Statements of the Group are measured using the currency of the primary economic environment in which it operates i.e. the "functional currency". The Group's financial statements are presented in INR, which is also the Holding Company's functional currency. Transactions and balances Transactions in foreign currencies are initially recorded by the Group's entities at their respective functional currency at exchange rates prevailing at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Exchange differences arising on settlement or translation of monetary items are recognised in profit or loss. Non-monetary items that are measured in te1ms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions . Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognised in other comprehensive income ("OCI") or consolidated statement of profit and loss, are also recognised in OCI or consolidated statement of profit and loss, respectively).

|207| Chap. 11 – Ind AS 21 — The Effects of Changes in Foreign Exchange Rates Group companies On consolidation, the assets and liabilities of foreign operations are translated into INR at the rate of exchange prevailing at the reporting date and their consolidated statements of profit and loss are translated at exchange rates prevailing at the dates of the transactions. The exchange differences arising on translation for consolidation are recognised in OCI. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is recognised in profit or loss. 16. RELIANCE INDUSTRIES LIMITED Foreign Currencies Transactions and Translation Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of Transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency’s closing rates of exchange at the reporting date. Exchange differences arising on settlement or translation of monetary items are recognised in Consolidated Statement of Profit and Loss except to the extent of exchange differences which are regarded as an adjustment to interest costs on foreign currency borrowings that are directly attributable to the acquisition or construction of qualifying assets, are capitalised as cost of assets. Additionally, exchange gains or losses on foreign currency borrowings taken prior to April 1, 2016, which are related to the acquisition or construction of qualifying assets are adjusted in the carrying cost of such assets. Non-monetary items that are measured in terms of historical cost in a foreign currency are recorded using the exchange rates at the date of the transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e. translation Differences on items whose fair value gain or loss is recognised in Other Comprehensive Income or Statement of Profit and Loss are also recognised in Other Comprehensive Income or Statement of Profit and Loss, respectively). In case of an asset, expense or income where a non-monetary advance is paid/received, the date of transaction is the date on which the advance was initially recognised. If there were multiple payments or receipts in advance, multiple dates of transactions are determined for each payment or receipt of advance consideration. 17. SIYARAM SILK MILLS LIMITED a) Significant Accounting Policies Foreign Exchange Transaction: Functional and presentation currency The Group’s financial statements are presented in INR, which is also The Group’s functional currency and presentation currency. Transactions and balances Transactions in foreign currencies are initially recorded in the functional currency, using the spot an exchange rate at the date of the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Exchange differences that arise on settlement of monetary items or on reporting at each balance sheet date of the Group’s monetary items at the closing rate are recognized as income or expenses in the period which they arise. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e. translation, differences on items whose fair value gain or loss is recognized in OCI or profit or loss are also recognized in OCI or profit or loss, respectively).

|208| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Group Companies The results and financial position of foreign operations that have a functional currency different form the presentation currency are translated into the presentation currency as follows: - Assets and liabilities are translated at the closing rate at the date of that balance sheet. - Income and expenses are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions). On Consolidation, exchange differences arising from the translation of any net investment in foreign entity are recognized in other comprehensive income and all resulting exchange differences are recognized in other comprehensive income. b) Nature and purpose of Reserve: Foreign Currency Translation Reserve: Exchange difference arising on translation of the foreign operations are recognized in other comprehensive income as described in accounting policy and accumulated in a separate reserve within equity. The cumulative amount is reclassified to profit or loss when the net investment is disposed of. 18. TATA CONSULTANCY SERVICES LIMITED Foreign currency transactions are recorded at exchange rates prevailing on the date of the transaction. Foreign currency denominated monetary assets and liabilities are retranslated at the exchange rate prevailing on the balance sheet date and exchange gains and losses arising on settlement and restatement are recognised in the consolidated statement of profit and loss. Non-monetary assets and liabilities that are measured in terms of historical cost in foreign currencies are not retranslated. Assets and liabilities of entities with functional currency other than the functional currency of the Company have been translated using exchange rates prevailing on the balance sheet date. Statement of profit and loss of such entities has been translated using weighted average exchange rates. Translation adjustments have been reported as foreign currency translation reserve in the statement of changes in equity. 19. ULTRATECH CEMENT LIMITED Accounting Policies (t) Foreign Currency transactions: Transactions in currencies other than the Company’s functional currency (i.e. foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are translated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate as at the date of initial transactions. Exchange differences on monetary items are recognised in the Statement of Profit and Loss in the period in which they arise except for: • exchange differences on foreign currency borrowings relating to assets under construction for future productive use, which are included in the cost of those assets when they are regarded as an adjustment to interest costs on those foreign currency borrowings; • exchange differences relating to qualifying effective cash flow hedges and qualifying net investment hedges in foreign operations which are recognised in OCI.

|209| Chap. 11 – Ind AS 21 — The Effects of Changes in Foreign Exchange Rates (u) Foreign operations: The assets and liabilities of foreign operations including goodwill and fair value adjustments arising on acquisition are translated into INR, the functional currency of the Company, at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into INR at the exchange rates at the dates of the transactions or an average rate if the average rate approximates the actual rate at the date of the transaction. Exchange differences are recognized in OCI and accumulated in equity (as exchange differences on translating the financial statements of a foreign operation), except to the extent that the exchange differences are allocated to NCI. When a foreign operation is disposed of in its entirety or partially such that control, significant influence or joint control is lost, the cumulative amount of exchange differences related to that foreign operation recognized in OCI is reclassified to Statement of Profit and Loss as part of the gain or loss on disposal. If the Group disposes of part of its interest in a subsidiary but retains control, then the relevant proportion of the cumulative amount is re-allocated to NCI. When the Group disposes of only a part of its interest in an associate or a joint venture while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to Statement of Profit and Loss. 20. VEDANTA LIMITED Accounting Policies (S) Accounting for foreign currency transactions and translations The functional currency for each entity in the Group is determined as the currency of the primary economic environment in which it operates. For all principal operating subsidiaries, the functional currency is normally the local currency of the country in which it operates with the exception of oil and gas business operations which have a US dollar functional currency as that is the currency of the primary economic environment in which it operates. The financial statements are presented in Indian rupee (`). In the financial statements of individual group companies, transactions in currencies other than the respective functional currencies are translated into their functional currencies at the exchange rates ruling at the date of the transaction. Monetary assets and liabilities denominated in other currencies are translated into functional currencies at exchange rates prevailing on the reporting date. Non-monetary assets and liabilities denominated in other currencies and measured at historical cost or fair value are translated at the exchange rates prevailing on the dates on which such values were determined. All exchange differences are included in the consolidated statements of profit and loss except those where the monetary item is designated as an effective hedging instrument of the currency risk of designated forecasted sales or purchases, which are recognized in the other comprehensive income. Exchange differences which are regarded as an adjustment to interest costs on foreign currency borrowings, are capitalized as part of borrowing costs in qualifying assets. For the purposes of the consolidated financial statements, items in the consolidated statements of profit and loss of those businesses for which the Indian Rupees is not the functional currency are translated into Indian Rupees at the average rates of exchange during the year/ exchange rates as on the date of transaction. The related consolidated balance sheet are translated into Indian rupees at the rates as at the reporting date. Exchange differences arising on translation are recognised in the other comprehensive income. On disposal of such entities the deferred cumulative exchange differences recognised in equity relating to that particular foreign operation are recognised in the consolidated statement of profit and loss. The Group had applied paragraph 46A of AS 11 under Previous GAAP. Ind AS 101 gives an option, which has been exercised by the Group, whereby a first time adopter can continue its Indian GAAP policy for accounting for exchange differences arising from translation of long-term foreign currency monetary items recognised in the Indian GAAP financial statements for the period ending immediately before the beginning of the first Ind AS financial reporting period. Hence, foreign exchange gain/loss on long-term foreign currency monetary items recognized upto March 31, 2016 has been deferred/capitalized. Such exchange

|210| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts differences arising on translation/settlement of long-term foreign currency monetary items and pertaining to the acquisition of a depreciable asset are amortized over the remaining useful lives of the assets. Exchange differences arising on translation/ settlement of long-term foreign currency monetary items, acquired post April 01, 2016, pertaining to the acquisition of a depreciable asset are charged to the consolidated statement of profit and loss. 21. WIPRO LIMITED Transactions and balances Transactions in foreign currency are translated into the respective functional currencies using the exchange rates prevailing at the date of the transaction. Foreign exchange gains and losses resulting from the settlement of such transactions and from translation at the exchange rates prevailing at the reporting date of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statement of income and reported within foreign exchange gains/(losses), net, within results of operating activities except when deferred in other comprehensive income as qualifying cash flow hedges and qualifying net investment hedges. Gains/(losses), net relating to translation or settlement of borrowings denominated in foreign currency are reported within finance expense. Non-monetary assets and liabilities denominated in foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of transaction. Translation differences on non-monetary financial assets measured at fair value at the reporting date, such as equities classified as financial instruments measured at fair value through other comprehensive income are included in other comprehensive income, net of taxes. Foreign operations For the purpose of presenting consolidated financial statements, the assets and liabilities of the Company’s foreign operations that have a functional currency other than Indian rupees are translated into Indian rupees using exchange rates prevailing at the reporting date. Income and expense items are translated at the average exchange rates for the period. Exchange differences arising, if any, are recognized in other comprehensive income and held in foreign currency translation reserve (FCTR), a component of equity, except to the extent that the translation difference is allocated to non-controlling interest. When a foreign operation is disposed of, the relevant amount recognized in FCTR is transferred to the consolidated statement of income as part of the profit or loss on disposal. Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the exchange rate prevailing at the reporting date. ll

|211| Chap. 12 – Ind AS 23 – Borrowing Cost Chapter 12 Ind AS 23 – Borrowing Cost 1. ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs. 2. ADANI POWER LIMITED Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, that necessarily take a substantial period of time to get ready for their intended use or sale, are capitalised as part of the cost of the asset, until such time as the assets are substantially ready for their intended use or sale. Interest income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred. Borrowing cost consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing cost. 3. TORRENT POWER LIMITED The amendments clarify that if a specific borrowing remains outstanding after the related qualifying asset is ready for its intended use or sale, it becomes part of general borrowings. The effective date for adoption of amendments as per Companies (Indian Accounting Standards) Second Amendment Rules, 2019 is annual periods beginning on or after 1st April, 2019. The Group will adopt the standard on 1st April, 2019 and is in the process of evaluating the impact on account of above amendment on its financial statements and will accordingly consider the same from period beginning 1st April, 2019. Borrowing costs that are directly attributable to the acquisition and construction of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use, such as new projects and / or specific assets created in the existing business, are capitalized up to the date of completion and ready for their intended use. Income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. Other borrowing costs are charged to the consolidated statement of profit and loss in the period of their accrual. 1. Adjustments during the year include capitalisation of borrowing costs of ` 7.28 Crore (Previous year – ` 75.77 Crore), which are directly attributable to purchase / construction of qualifying assets in accordance with Ind AS - 23 “Borrowing Costs” 2. Capital work-in-progress include borrowing costs of ` 2.67 Crore (31st March, 2018 – ` 70.71 Crore), which are directly attributable to purchase / construction of qualifying assets in accordance with Ind AS - 23 “Borrowing Costs”.

|212| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 3. The weighted average rate for capitalisation of borrowing cost relating to general borrowing is 8.68% (Previous year 8.55%). 4. ALL CARGO LOGISTICS LIMITED CONSOLIDATED FINANCIAL STATEMENTS Significant Accounting Policies Borrowing costs Borrowing costs includes interest and amortization of ancillary cost over the period of loans which are incurred in connection with arrangements of borrowings. Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs. Notes to Accounts 1) During the year, the Group has capitalised borrowing cost of ` 1,044 lakhs (Previous year: ` 372 lakhs). 5. APOLLO HOSPITALS ENTERPRISE LIMITED Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption value is recognised in the income statement over the period of the borrowings using the effective interest rate method. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date. Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Interest income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred. 6. ASHOKA BUILDCON LIMITED Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalised during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Borrowing cost under Service Concession Arrangements: • Borrowing costs attributable to the construction of qualifying assets under service concession arrangement classified as intangible asset, are capitalised to the date of its intended use. • Borrowing costs attributable to concession arrangement classified as financial assets are charged to Statement of Profit and Loss in the period in which such costs are incurred. Other borrowing costs are charged to Statement of Profit and Loss in the period in which they are incurred.

|213| Chap. 12 – Ind AS 23 – Borrowing Cost 7. AVENUE SUPERMARTS LIMITED CONSOLIDATED FINANCIAL STATEMENTS Significant Accounting Policies Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition or construction of qualifying assets are capitalized during the period of time that is required to complete and prepare the asset for its intended use. Other borrowing costs are expensed in the period in which they are incurred. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization. Borrowing cost consist of interest and other cost that an entity incurs in connection with borrowing of funds. Amendments Amendments to Ind AS 23: Borrowing Costs The amendments clarify that an entity treats as part of general borrowings any borrowing originally made to develop a qualifying asset when substantially all of the activities necessary to prepare that asset for its intended use or sale are complete. An entity applies those amendments to borrowing costs incurred on or after the beginning of the annual reporting period in which the entity first applies those amendments. An entity applies those amendments for annual reporting periods beginning on or after 1st April 2019. Since the group’s current practice is in line with these amendments, the group does not expect any effect on its financial statements. 8. BHARAT PETROLEUM CORPORATION LIMITED I. Borrowing costs consist of interest and other costs incurred in connection with the borrowing of funds. Borrowing costs also include exchange differences to the extent regarded as an adjustment to the borrowing costs. II. Borrowing costs that are attributable to the acquisition or construction of qualifying assets (i.e. an asset that necessarily takes a substantial period of time to get ready for its intended use) are capitalized as a part of the cost of such assets. All other borrowing costs are charged to the Consolidated Statement of Profit and Loss. III. Investment Income earned on the temporary investment of funds of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization. 9. CHAMBAL FERTILISERS AND CHEMICALS LIMITED General and specific borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset that necessarily takes a substantial period of time to get ready for its intended use are capitalized as part of the cost of the respective asset. All other borrowing costs are expensed in the period they occur. Borrowing costs include interest and amortisation of ancillary costs incurred in connection with the arrangement of borrowings. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is de-capitalised from the qualifying assets.

|214| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 10. DLF LIMITED Borrowing costs directly attributable to the acquisition and/ or construction/ production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are charged to the statement of profit and loss as incurred. Borrowing costs consist of interest and other costs that the Group incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs. 11. GMR INFRASTRUCTURE LIMITED Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds including interest expense calculated using the effective interest method, finance charges in respect of assets acquired on finance lease. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs. Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset until such time as the assets are substantially ready for the intended use or sale. All other borrowing costs are expensed in the period in which they occur. 12. GODREJ PROPERTIES LIMITED Amendments to Ind AS 23 Borrowing Costs, clarify that the general borrowings pool used to calculate eligible borrowing costs excludes only borrowings that specifically finance qualifying assets that are still under development or construction. Borrowing Cost Borrowing costs are interest and other costs that the Group incurs in connection with the borrowing of funds and is measured with reference to the effective interest rate applicable to the respective borrowing. Borrowing costs, pertaining to development of long term projects, are transferred to Construction work in progress, as part of the cost of the projects till the time all the activities necessary to prepare these projects for its intended use or sale are complete. All other borrowing costs are recognised as an expense in the period which they are incurred. 13. GRASIM INDUSTRIES LIMITED Borrowing cost includes interest expense, amortisation of discounts, hedge - related cost incurred in connection with foreign currency borrowings, ancillary costs incurred in connection with borrowing of funds and exchange difference, arising from foreign currency borrowings, to the extent they are regarded as an adjustment to the interest cost. Borrowing costs, that are attributable to the acquisition or construction or production of a qualifying asset, are capitalised as part of the cost of such asset till such time the asset is ready for its intended use. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use. All other borrowing costs are recognised as an expense in the period in which they are incurred. Investment income earned on the temporary investment of specific borrowings, pending their expenditure on qualifying assets, is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognized in the Statement of Profit and Loss in the period in which they are incurred. 14. HINDUSTAN CONSTRUCTION COMPANY LIMITED Borrowing costs consist of interest and other costs that the Group incurs in connection with the borrowing of funds. Also, the EIR amortisation is included in finance costs.

|215| Chap. 12 – Ind AS 23 – Borrowing Cost Borrowing costs relating to acquisition, construction or production of a qualifying asset which takes substantial period of time to get ready for its intended use are added to the cost of such asset to the extent they relate to the period till such assets are ready to be put to use. All other borrowing costs are expensed in the Statement of Profit and Loss in the period in which they occur 15. HINDUSTAN PETROLEUM CORPORATION LIMITED I. Borrowing cost consists of interest and other costs incurred in connection with the borrowing of funds. Borrowing cost also includes exchange rate variation to the extent regarded as an adjustment to interest cost. II. Borrowing costs directly attributable to the acquisition or construction of an asset that necessarily takes a substantial period of time to get ready for its intended use are capitalised as part of the cost of the asset till the month in which the asset is ready for intended use. All other borrowing costs are expensed in the period in which they are incurred. 16. INDIABULLS REAL ESTATE LIMITED Amendment to Ind AS 23, Borrowing costs On 30 March 2019, Ministry of Corporate Affairs (“MCA”) issued an amendment to Ind-AS 23 “Borrowing Costs” clarifies that if any specific borrowing remains outstanding after the related asset is ready for its intended use or sale, that borrowing becomes part of the funds that an entity borrows generally when calculating the capitalization rate on general borrowings. This amendment is effective for annual periods beginning on or after 1 April 2019. The Group is evaluating the requirements of the amendments and their impact on the consolidated financial statements. Borrowing costs Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is necessary to complete and prepare the asset for its intended use or sale. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. All other borrowing costs are charged to the statement of profit and loss as incurred. 17. INTERGLOBE AIRWAYS LIMITED (INDIGO) Borrowing costs attributable to the acquisition or construction of a qualifying asset are capitalised as part of the cost of the asset. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. Other borrowing costs are recognised as an expense in the period in which they are incurred. Borrowing cost includes exchange differences to the extent regarded as an adjustment to the borrowing costs. 18. LARSEN & TOUBRO LIMITED Borrowing costs include finance costs calculated using the effective interest method, finance charges in respect of assets acquired on finance lease and exchange differences arising on foreign currency borrowings, to the extent they are regarded as an adjustment to finance costs. in cases where hedging instruments are acquired for protection against exchange rate risk related to borrowings and are accounted as hedging a time-period related hedge item, the borrowing costs also include the amortization of premium element of the forward contract and foreign currency basis spread as applicable, over the period of the hedging instrument. Borrowing costs net of any investment income from the temporary investment of related borrowings that are attributable to the acquisition, construction or production of a qualifying asset are capitalised/inventoried as part of cost of such asset till such time the asset is ready for its intended use or sale. a qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale. all other borrowing costs are recognised in profit or loss in the period in which they are incurred.

|216| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 19. LUPIN LIMITED Borrowing costs are interest and other costs that the Group incurs in connection with the borrowing of funds and is measured with reference to the effective interest rate (EIR) applicable to the respective borrowing. Borrowing costs include interest costs measured at EIR and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost. Borrowing costs, allocated to qualifying assets, pertaining to the period from commencement of activities relating to construction/development of the qualifying asset up to the date of capitalisation of such asset are added to the cost of the assets. Capitalisation of borrowing costs is suspended and charged to the Consolidated Statement of Profit and Loss during extended periods when active development activity on the qualifying assets is interrupted. All other borrowing costs are recognised as an expense in the period which they are incurred. 20. MAHINDRA LIFESPACE DEVELOPERS LIMITED Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Interest income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred. 21. OIL AND NATURAL GAS CORPORATION LIMITED Accounting Policies 3.28 Borrowing Costs Borrowing costs specifically identified to the acquisition or construction of qualifying assets is capitalized as part of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to the Consolidated Statement of Profit and Loss. Amendment to IND AS 23 The amendments clarify that if any specific borrowing remains outstanding after the related asset is ready for its intended use or sale, that borrowing becomes part of the funds that an entity borrows generally when calculating the capitalization rate on general borrowings 22. SIYARAM SILK MILLS LIMITED CONSOLIDATED FINANCIAL STATEMENTS Significant Accounting Policies Borrowing Costs: Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to revenue. Notes to Accounts Capitalised borrowing Cost: Addition to block of Plant and equipment, Building and CWIP includes borrowing cost of ` 101.67 lakhs (Previous year ` 347.81 lakhs) on account of capital expansion for manufacturing plant at Amravati (Maharashtra) and other Capital Expenditure.

|217| Chap. 12 – Ind AS 23 – Borrowing Cost 23. TATA COFFEE LIMITED Borrowing costs consist of interest, ancillary and other costs that the Group incurs in connection with the borrowing of funds and interest relating to other financial liabilities. Borrowing costs also include exchange differences to the extent regarded as an adjustment to the borrowing costs. Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. The Capital Work in Progress includes capital expenditure upto 31st March, 2019 relating to the Plant and Machinery and other equipments of Tata Coffee Vietnam Company Limited. It also includes borrowing costs capitalised of ` 2097.85 Lakhs (Previous Year- ` 356.96 Lakhs). 24. THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS Significant Accounting Policies Borrowing Costs Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognized in Consolidated Statement of Profit and Loss in the period in which they are incurred. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing costs also include exchange differences to the extent regarded as an adjustment to the borrowing costs. Amendments Ind AS 23 – Borrowing Costs The amendments clarify that if any specific borrowing remains outstanding after the related asset are ready for its intended use or sale, that borrowing becomes part of the funds an entity borrows generally when calculating the capitalization rate on general borrowings. The Group does not expect any impact from this amendment. 25. THE RAMCO CEMENTS LIMITED Accounting Policies 4.11 Borrowing Costs 4.11.1 Borrowing costs that are directly attributable to the acquisition, construction, production of a qualifying asset are capitalised as part of the cost of that asset which takes substantial period of time to get ready for its intended use. The Group determines the amount of borrowing cost eligible for capitalisation by applying capitalisation rate to the expenditure incurred on such cost. The capitalisation rate is determined based on the weighted average rate of borrowing cost applicable to the borrowings of the Group which are outstanding during the period, other than borrowings made specifically towards purchase of the qualifying asset. The amount of borrowing cost that the Group capitalises during the period does not exceed the amount of borrowing cost incurred during that period. All other borrowings costs are expensed in the period in which they occur. 4.11.2 Borrowing cost include interest computed using Effective Interest Rate method, amortisation of ancillary costs incurred and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost.

|218| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 26. TRIDENT LIMITED CONSOLIDATED FINANCIAL STATEMENTS Significant Accounting Policies Borrowing costs Borrowing costs include interest and amortization of ancillary costs incurred in relation to borrowings. Borrowing costs, allocated to and utilized for qualifying assets, pertaining to the period from commencement of activities relating to construction/development of the qualifying asset up to the date of capitalisation of such asset are added to the cost of the assets. Qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs. Interest revenue earned on the temporary investment of specific borrowings for qualifying assets pending their expenditure, is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in statement of profit and loss in the period in which they are incurred. Notes to Accounts The amount of borrowing costs capitalised during the year is ` 128.6 million (Previous year ` 27.1 million) at the actual rate of interest on specific borrowings utilised and weighted average interest rate for general borrowings. 27. TVS MOTOR COMPANY LIMITED General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred. Borrowing cost capitalized Borrowing cost capitalised during the year ` 17.25 crores (last year Nil). 28. VEDANTA LIMITED Accounting Policies (W) Borrowing costs Borrowing cost includes interest expense as per effective interest rate (EIR) and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost. Borrowing costs directly relating to the acquisition, construction or production of a qualifying capital project under construction are capitalized and added to the project cost during construction until such time that the assets are substantially ready for their intended use i.e. when they are capable of commercial production. Borrowing costs relating to the construction phase of a service concession arrangement is capitalised as part of the cost of the intangible asset. Where funds are borrowed specifically to finance a project, the amount capitalised represents the actual borrowing costs incurred. Where surplus funds are available out of money borrowed specifically to finance a qualifying capital project, the income generated from such shortterm investments is deducted from the total capitalized borrowing cost. If any specific borrowing remains outstanding after the related asset is ready for its intended use or sale, that borrowing then becomes part of general borrowing. Where the funds used to finance a project form part of general borrowings, the amount capitalised is calculated using a weighted average of rates applicable to relevant general borrowings of the Group during the year.

|219| Chap. 12 – Ind AS 23 – Borrowing Cost All other borrowing costs are recognised in the consolidated statement of profit and loss in the year in which they are incurred. Capitalisation of interest on borrowings related to construction or development projects is ceased when substantially all the activities that are necessary to make the assets ready for their intended use are complete or when delays occur outside of the normal course of business. EIR is the rate that exactly discounts the estimated future cash payments or receipts over the expected life of the financial liability or a shorter period, where appropriate, to the amortised cost of a financial liability. When calculating the effective interest rate, the Group estimates the expected cash flows by considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and similar options). 29. VODAFONE IDEA LIMITED Accounting Policies o) Borrowing Costs Borrowing Costs directly attributable to the acquisition or construction of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they are incurred. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Interest income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the finance costs. ll

|220| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Chapter 13 Ind AS 24 – Related Party Disclosures 1. ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED Related Party Disclosures Related parties with whom transactions have been taken place. Joint Venture Entities Adani International Container Terminal Private Limited Adani CMA Mundra Terminal Private Limited Adani NYK Auto Logistics Solutions Private Limited (Incorporated on September 17, 2018) Key Management Personnel and their relatives Mr. Gautam S. Adani - Chairman and Managing Director Mr. Rajesh S. Adani - Director and Brother of Mr. Gautam S. Adani Mr. Karan G. Adani - Chief Executive Officer and son of Mr. Gautam S. Adani Dr. Malay Mahadevia, Wholetime Director Prof. G. Raghuram - Non-Executive Director Mr. Sanjay S. Lalbhai - Non-Executive Director Ms. Radhika Haribhakti - Non-Executive Director Mr. Mukesh Kumar - Non-Executive Director (w.e.f. October 23, 2018) Mr. Gopal Krishna Pillai - Non-Executive Director Mr. Deepak Maheshwari - Chief Financial Officer (w.e.f May 03, 2018) Mr. B. Ravi - Chief Financial Officer (upto February 12, 2018) Mr. Kamlesh Bhagia - Company Secretary (w.e.f August 06, 2018) Ms. Dipti Shah - Company Secretary (upto July 31, 2018) Entities over which (i) Key Management Personnel and their relatives & (ii) entities having significant influence over the Company have control or are under significant influence through voting powers Abbot Point Port Holdings Pte Limited, Singapore Adani Foundation Adani Properties Private Limited Delhi Golf Link Properties Private Limited Adani Townships and Real Estate Company Private Limited Mundra Port Pty Limited, Australia Adani Infrastructure and Developers Private Limited Adani Mundra SEZ Infrastructure Private Limited Shanti Builders Adani Bunkering Private Limited Adani Enterprises Limited Adani Green Energy Limited Adani Green Energy (UP) Limited Adani Gas Limited Adani Trading Service LLP Adani Global FZE

|221| Chap. 13 – Ind AS 24 – Related Party Disclosures Adani Infra (India) Limited Adani Transport Limited Adani Infrastructure Management Services Limited Adani Power Dahej Limited Adani Power (Mundra) Limited Adani Power Limited Adani Power Maharashtra Limited Maharashtra Eastern Grid Power Transmission Company Limited Adani Power Rajasthan Limited Adani Wilmar Limited Kutch Power Generation Limited Belvedere Golf and Country Club Private Limited Gujarat Adani Institute of Medical Science Vishakha Renewable Private Limited Adani-Elbit Advanced Systems India Limited Sunanda Agri Trade Private Limited Adani Skill Development Centre Adani Electricity Mumbai Limited Prayatna Developers Private Limited Udupi Power Corporation Limited Shantigram Estate Management Private Limited Entities over which (i) Key Management Personnel and their relatives & (ii) entities having significant influence over the Company have control or are under significant influence through voting powers Adani Global Pte Limited, Singapore Adani Renewable Energy (KA) Limited Parampujya Solar Energy Private Limited Golden Valley Agrotech Private Limited Wardha Solar (Maharashtra) Private Limited Adani Finserve Private Limited Adani Shipping Pte. Limited, Singapore Vishakha Solar Films Private Limited Adani Estates Private Limited Adani Power (Jharkhand) Limited Mundra LPG Terminal Private Limited (w.e.f December 29, 2018) Adani Dhamra LPG Terminal Private Limited (w.e.f December 29, 2018) Adani Cementation Limited Mundra Solar PV Limited Mundra Solar Technopark Private Limited Terms and conditions of transactions with related parties Outstanding balances of the related parties at the year-end are unsecured and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. For the year ended March 31, 2019, the Company has not recorded any impairment of receivables relating to amounts owed by related parties. This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

|222| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Note: The names and the nature of relationships is disclosed only when the transactions are entered into by the Company with the related parties during the existence of the related party relationship. Aggregate of transactions for the year ended and balances thereof with these parties have been given below (A) Transactions with Related Parties Sr No Particulars For the Year Ended With Joint Ventures With Other Entities* Key Management Personnel and their relatives 1 Income from Port Services / Other Operating Income March 31, 2019 429.15 1,004.39 — March 31, 2018 267.65 782.27 — 2 Sale of Non Financial Assets March 31, 2019 — 184.62 — March 31, 2018 — 117.33 — 3 Lease including Infrastructure Usage Income / Upfront Premium (Includes Reversal) March 31, 2019 11.44 234.61 — March 31, 2018 449.75 17.50 — 4 Income from Development of Container Terminal Infrastructure March 31, 2019 — — — March 31, 2018 2,258.85 — — 5 Interest Income on loans/ deposits/deferred accounts receivable March 31, 2019 133.16 106.08 — March 31, 2018 121.33 83.79 — 6 Purchase of Spares and consumables, Power & Fuel March 31, 2019 — 94.82 — March 31, 2018 — 124.46 — 7 Recovery of expenses (Reimbursement) March 31, 2019 73.81 0.01 — March 31, 2018 19.19 - — 8 Services Availed (including reimbursement of expenses) March 31, 2019 5.37 101.10 — March 31, 2018 — 71.80 — 9 Rent charges paid March 31, 2019 — 8.22 — March 31, 2018 2.08 8.86 — 10 Sales of Scrap and other Miscellaneous Income March 31, 2019 0.26 15.47 — March 31, 2018 0.57 9.01 — 11 Loans Given March 31, 2019 280.80 1.40 — March 31, 2018 472.34 3.77 — 12 Loans Received back March 31, 2019 31.61 — — March 31, 2018 55.72 4.17 — 13 Advance / Deposit Given March 31, 2019 — 125.75 — March 31, 2018 — 18.00 — 14 Advance / Deposit Received Back March 31, 2019 — 110.00 — March 31, 2018 — 10.00 — 15 Investment in equity shares March 31, 2019 3.06 — — March 31, 2018 48.23 — — 16 Purchase of Subsidiaries March 31, 2019 — 965.70 — March 31, 2018 — — —

|223| Chap. 13 – Ind AS 24 – Related Party Disclosures Sr No Particulars For the Year Ended With Joint Ventures With Other Entities* Key Management Personnel and their relatives 17 Donation March 31, 2019 — 59.65 — March 31, 2018 — 62.28 — 18 Sale of assets March 31, 2019 - — — March 31, 2018 345.22 1.40 — 19 Remuneration March 31, 2019 — — 19.19 March 31, 2018 — — 19.76 20 Commission to Directors March 31, 2019 — — 1.00 March 31, 2018 — — 1.00 21 Commission to Non-Executive Directors March 31, 2019 — — 0.36 March 31, 2018 — — 0.36 22 Sitting Fees March 31, 2019 — — 0.27 March 31, 2018 — — 0.13 (B) Balances with Related Parties ` in crore Sr No Particulars As at With Joint Ventures With Other Entities* Key Management Personnel and their relatives 1 Trade Receivable (net of bills discounted, refer note 5 (c)) March 31, 2019 76.02 875.80 — March 31, 2018 1,505.70 955.47 — 2 Loans March 31, 2019 1,489.04 3.25 — March 31, 2018 1,213.37 — — 3 Capital Advances March 31, 2019 0.09 29.75 — March 31, 2018 0.09 152.02 — 4 Trade Payable (including provisions) March 31, 2019 3.17 23.57 — March 31, 2018 3.22 31.07 — 5 Advances and Deposits from Customer/ Sale of Assets March 31, 2019 3.68 14.04 — March 31, 2018 3.68 14.92 — 6 Other Financial & Non-Financial Assets March 31, 2019 170.86 2,191.16 — March 31, 2018 160.13 904.83 — 7 Other Financial & Non-Financial Liabilities March 31, 2019 — 73.46 — March 31, 2018 — 139.95 — 8 Corporate Guarantee March 31, 2019 USD 21.16 Mn — — March 31, 2018 USD 32.10 Million 448 USD 800 Million — 9 Corporate Guarantee (Deed of indemnity received). March 31, 2019 — — — Loan outstanding USD Nil (previous year USD 288 Mn) March 31, 2018 — USD 800 Million * Entities over which (i) Key Management Personnel and their relatives & (ii) entities having significant influence over the Company have control or are under significant influence through voting powers.

|224| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 2. MAHINDRA LIFESPACE DEVELOPERS LIMITED 41. Related Party Disclosures (a) Related Parties where control exists (i) Holding Company Mahindra & Mahindra Limited (b) Other Parties with whom Transactions have taken place during the year (i) Joint Ventures Mahindra World City Developers Limited Mahindra Industrial Park Chennai Limited Mahindra Bloomdale Developers Limited # Mahindra World City (Jaipur) Limited Mahindra Inframan Water Utilities Limited Mahindra Industrial Park Private Limited Mahindra Homes Private Limited Mahindra Happinest Developers Limited (incorporated on 06 September, 2017) # During the year Mahindra Bloomdale Developers Limited (formerly known as Mahindra Bebanco Developers Limited) has become subsidiary of the Company w.e.f. 29th May, 2018 and before that it was Joint Venture of the Company (ii) Fellow Subsidiaries Mahindra Consulting Engineers Limited NBS International Limited Bristlecone India Limited Mahindra First Choice Wheels Limited EPC Industries Limited Mahindra Intertrade Limited Mahindra Integrated Business Solutions Private Limited Mahindra Retail Private Limited Mahindra & Mahindra Contech Limited Mahindra & Mahindra Financial Services Limited Mahindra Defence Systems Limited Mahindra Susten Private Limited Mahindra Holidays & Resorts India Limited (iii) Associate of Holding Company Tech Mahindra Limited Mahindra Knowledge Park Private Limited (iv) Key Management Personnel Mrs Sangeeta Prasad - Managing Director & CEO (From 1st October, 2018) Ms. Anita Arjundas - Managing Director & CEO (Upto 30th September, 2018) Related party transactions The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year:

|225| Chap. 13 – Ind AS 24 – Related Party Disclosures Particulars Holding Company Joint Ventures Key Management Personnel Other Related Parties Year ended March 31, 2019 Year ended March 31, 2018 Year ended March 31, 2019 Year ended March 31, 2018 Year ended March 31, 2019 Year ended March 31, 2018 Year ended March 31, 2019 Year ended March 31, 2018 Sale of Goods Mahindra Happinest Developers Limited — — — 4,718.00 — — — — Rendering of services Mahindra & Mahindra Limited 1,399.55 1,790.88 — — — — — — Mahindra Homes Private Limited — — 1,213.88 1,294.17 — — — — Mahindra Happinest Developers Limited — — 813.71 1,407.77 — — — — Mahindra Industrial Park Private Limited — — 92.80 206.00 — — — — Mahindra World City (Jaipur) Limited — — 113.74 9.93 — — — — Mahindra World City Developers Limited — — - 4.80 — — — — Receiving of Services Mahindra & Mahindra Limited 679.33 839.24 — — — — — — Bristlecone India Limited — — — — — — — 11.24 EPC Industries Limited — — — — — — 2.85 33.84 Mahindra Intertrade Limited — — — — — — 1.95 2.99 Mahindra Integrated Business — — Solutions Private Limited — — — — — — 116.19 55.35 Mahindra Holidays & Resorts India Limited — — — — — — 13.48 12.24 Mahindra World City Developers Limited — — 296.85 — — — — 360.07 Mahindra Retail Private Limited — — — — — — 0.27 0.91 Mahindra World City Jaipur Limited — — — — — — 0.04 — NBS International Ltd — — — — — — 1.44 — Reimbursement made to parties Mahindra & Mahindra Limited 104.68 146.19 — — — — — — Mahindra World City Developers Limited — — — 7.36 — — — — Mahindra World City (Jaipur) Limited — — 3.54 7.88 — — — —