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

|26| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Disclosures 49. Financial instruments Disclosure 49.1 Capital Management The Group’s objective when managing capital is to: • Safeguard its ability to continue as going concern so that the Group is able to provide maximum return to stakeholders and benefits for other stakeholders; and • Maintain an optimal capital structure to reduce the cost of capital. The Group maintains its financial framework to support the pursuit of value growth for shareholders, while ensuring a secure financial base. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The capital structure of the Group consists of net debt (borrowings as detailed in note 28 and 29 offset by cash and bank balances) and total equity (Refer Note 25 and 26). The Group’s financial management committees review the capital structure on a regular basis. As part of this review, the committee considers the cost of capital, risks associated with each class of capital requirements and maintenance of adequate liquidity. 49.1.1 Gearing Ratio The gearing ratio is worked out as follows: (` in million) Particulars As at March 31, 2019 As at 31 March, 2018 i) Debt * 1,076,407.43 1,061,576.95 ii) Total cash and bank balances 51,034.18 50,628.41 Less : cash and bank balances required for working capital 4,875.35 8,329.85 Net cash and bank balances 46,158.83 42,298.56 iii) Net Debt 1,030,248.60 1,019,278.39 iv) Total equity 2,362,469.72 2,196,249.33 v) Net Debt to equity ratio 0.44 0.46 * Long term and Short term as disclosed in note 28. ll

|27| Chap. 2 – Ind AS 2 — Inventories Chapter 2 Ind AS 2 — Inventories 1. ACC LIMITED Accounting Policies Inventories Inventories are valued after providing for obsolescence, as follows: a) Raw Materials, Stores and Spare parts, Packing Material and Fuels At lower of cost and net realisable value. However, materials and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. Cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition. Cost is determined on a weighted average basis. b) Work-in-progress, Finished goods and Stock-in-Trade At lower of cost and net realisable value. Cost includes direct materials and labour and a proportion of manufacturing overheads based on normal operating capacity, but excluding borrowing costs. Cost of Stockin-Trade includes cost of purchase and other costs incurred in bringing the inventories to the present location and condition. Cost is determined on a weighted average basis. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of comp6letion and estimated costs necessary to make the sale. 2. ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED Inventories are valued at lower of cost and net realisable value. Stores and Spares: Valued at lower of cost and net realizable value. Cost is determined on a moving weighted average basis. Cost of stores and spares lying in bonded warehouse includes custom duty payable. Stores and Spares which do not meet the definition of property, plant and equipment are accounted as inventories. Costs incurred that relate to future contract activities are recognised as ”Project Work-in-Progress”. Project work-in-progress comprise specific contract costs and other directly attributable overheads including borrowing costs which can be allocated on specific contract cost is, valued at lower of cost and net realisable value. Net Realizable Value in respect of stores and spares is the estimated current procurement price in the ordinary course of the business. Inventories (At lower of cost and Net realisable value) ` in crore Particulars Non-current portion Current portion March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Stores and Spares, Fuel and Lubricants — — 243.79 223.22 Project work in progress (refer note 39) — — 562.89 297.07 — — 806.68 520.29

|28| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 3. ADANI POWER LIMITED Inventories are stated at the lower of cost or net realisable value. Costs include all non-refundable duties and all charges incurred in bringing the goods to their present location and condition. Cost is determined on First in First out (FIFO) for coal inventory and on weighted average basis for other than coal inventory. Net realisable value represents the estimated selling price for inventories less all estimated costs of power generation and costs necessary to make the sale. Disclosure All amounts are in ` Crores, unless otherwise stated Inventories (At lower of cost or net realisable value) As at 31st March, 2019 As at 31st March, 2018 As at 1st April, 2017 Fuel 734.68 337.41 1,152.97 (Includes in transit ` 249.61 Crores (As at 31st March, 2018 ` 131.10 Crores and As at 1st April, 2017 ` 455.04 Crores) Stores and spares 489.40 536.57 595.82 Total 1,224.08 873.98 1,748.79 4. AJANTA PHARMA LIMITED Raw materials and packing materials are valued at lower of cost (on moving weighted average basis) and net realisable value, cost of which includes duties and taxes (net off CENVAT, VAT and GST, wherever applicable). Cost of imported raw materials and packing materials lying in bonded warehouse includes the amount of customs duty/Goods and Services Tax. Finished products including traded goods and work-inprogress are valued at lower of cost and net realisable value. Cost is arrived on weighted average basis.The cost of Inventories have been computed to include all cost of purchases, cost of conversion, appropriate share of fixed production overheads based on normal operating capacity and other related cost incurred in bringing the inventories to their present location and condition. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated cost of completion and selling expenses necessary to make the sale.Slow and non-moving material, products nearing expiry, defective inventory are fully provided for and valued at net realisable value. Goods and materials in transit are valued at actual cost incurred up to the date of balance sheet. Materials and other items held for use in production of inventories are not written down, if the finished products in which they will be used are expected to be sold at or above cost. 5. BAJAJ AUTO LIMITED Cost of inventories have been computed to include all costs of purchases (including materials), cost of conversion and other costs incurred in bringing the inventories to their present location and condition. i) Finished stocks of vehicles and auto spare parts and stocks of work-in-progress are valued at cost of manufacturing or net realisable value whichever is lower. Cost is calculated on a weighted average basis. ii) Stores, packing materials and tools are valued at cost arrived at on a weighted average basis or net realisable value, whichever is lower. iii) Raw materials and components are valued at cost arrived at on a weighted average basis or net realisable value, whichever is lower. iv) Inventory of machinery spares and maintenance materials not being material are expensed in the year of purchase.

|29| Chap. 2 – Ind AS 2 — Inventories v) Goods in transit are stated at actual cost incurred upto the date of Balance Sheet. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale. Disclosure Inventories (` in Crore) Particulars As at 31 March 2019 2018 Raw materials and components (includes in transit ` 53.62 crore (previous year ` 27.98 crore)) 424.26 259.01 Work-in-progress 46.96 26.89 Finished goods 470.41 434.06 Stores, spares and packing material 16.37 18.43 Loose tools 3.51 4.19 961.51 742.58 Amount recognised in profit and loss Write-downs of inventories to net realisable value/reversal of provision for write-down, resulted in net loss/ (gain) of ` (5.12) crore (Previous year – ` 0.62 crore). These were recognised as an expense/(income) during the year in the Statement of Profit and Loss. 6. BHARAT PETROLEUM CORPORATION LIMITED I. Inventories are stated at cost or net realisable value, whichever is lower. Cost of inventories comprises of expenditure incurred in the normal course of business in bringing inventories to their present location including appropriate overheads apportioned on a reasonable and consistent basis and are determined on the following basis: • Crude oil, traded goods and finished products other than lubricants are determined on First in First out basis. • Other raw materials, packages, lubricants and stores and spares are determined on weighted average basis. • The cost of Stock-in-Process is determined at raw material cost plus cost of conversion II. Customs duty on Raw materials/Finished goods lying in bonded warehouse are provided for at the applicable rates except where liability to pay duty is transferred to consignee. III. Excise duty on finished stocks lying at manufacturing locations is provided for at the assessable value applicable at each of the locations based on end use. IV. The net realisable value of finished goods and stock in trade are based on the inter-company transfer prices and final selling prices (applicable at the location of stock) for sale to oil marketing companies and retail consumers respectively. For the purpose of stock valuation, the proportion of sales to oil marketing companies and retail consumers are determined on all India basis and considered for stock valuation at all locations. V. Raw Materials held for use in the production of finished goods are not written down below cost except in cases where raw material prices have declined and it is estimated that the cost of the finished goods will exceed their net realisable value. VI. Obsolete, slow moving, surplus and defective stocks are identified at the time of physical verification of stocks and where necessary, provision is made for such stocks. In case of NRL, threshold of 3 years is being used.

|30| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts VII. In case of BPRL, finished goods of Crude Oil are valued at Cost or Net realisable value, whichever is lower. Cost of finished goods is determined based on direct cost and directly attributable services cost including depreciation and depletion. The value of such inventories includes royalty (wherever applicable). Cost of inventories other than finished goods, includes expenditure incurred in the normal course of business in bringing inventories to their present location Note 13 Inventories (Consolidated) [Refer Note No. 1.12] ` in Crores Particulars As at 31/03/2019 As at 31/03/2018 Raw Materials [Including in transit ` 1,245.76 Crores (Previous year : ` 2,381.78 Crores)] 4,096.79 5,480.51 Work-in-progress 1,254.44 1,012.81 Finished goods 10,642.25 10,341.43 Stock-in-Trade [Including in transit ` 1,040.59 Crores (Previous year: ` 682.22 Crores)] 6,107.07 5,043.26 Stores and Spares [Including in transit ` 8.02 Crores (Previous year : ` 5.50 Crores)] 812.60 642.23 Packaging material 21.72 10.70 Total 22,934.87 22,530.94 The write-down of inventories of the corporation to net realisable value during the year amounted to ` 73.14 Crores (Previous year : ` 155.00 Crores). The reversal of write downs during the year amounted to ` 21.83 Crores (Previous year : ` 3.08 Crores) due to increase in net realisable value of the inventories. The write downs and reversal are included in cost of materials consumed or changes in inventories of finished goods, stock-in-trade and work in progress. 7. COLGATE PALMOLIVE INDIA LIMITED Inventories of raw and packing materials, stores, work-in-progress, finished goods and stock in trade are valued at lower of cost and net realisable value. - Cost is determined using standard cost method that approximates actual cost. - Cost of work-in-progress and finished goods includes materials, labour and manufacturing overheads and other costs incurred in bringing the inventories to their present location and condition. Spares that do not qualify to be recognized as Property, Plant and equipment are included in stores and spares. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale. Disclosure Inventories Raw and Packing Materials (at cost) 49,05.79 50,85.70 Work-in-Progress (at cost) 17,08.40 11,85.82 Finished Goods (lower of cost or Net realisable value) 126,66.90 104,75.88 Stock-in-Trade (lower of cost or Net realisable value) 33,79.18 36,45.11 [includes goods in transit ` 3,59.67 Lakhs,(March 31, 2018: ` 4,38.94 Lakhs)] Stores and Spares (at cost) 21,97.10 22,78.04 248,57.37 226,70.55

|31| Chap. 2 – Ind AS 2 — Inventories 8. DR. REDDY’S LABORATORIES LIMITED Inventories consist of raw materials, stores and spares, work-in-progress and finished goods and are measured at the lower of cost and net realisable value. The cost of all categories of inventories is based on the weighted average method. Cost includes expenditures incurred in acquiring the inventories, production or conversion costs and other costs incurred in bringing them to their existing location and condition. In the case of finished goods and work-in-progress, cost includes an appropriate share of overheads based on normal operating capacity. Stores and spares consists of packing materials, engineering spares (such as machinery spare parts) and consumables (such as lubricants, cotton waste and oils), which are used in operating machines or consumed as indirect materials in the manufacturing process. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses. The factors that the Company considers in determining the provision for slow moving, obsolete and other non-saleable inventory include estimated shelf life, planned product discontinuances, price changes, ageing of inventory and introduction of competitive new products, to the extent each of these factors impact the Company’s business and markets. The Company considers all these factors and adjusts the inventory provision to reflect its actual experience on a periodic basis. 2.8 Inventories Particulars As at 31 March 2019 As at 31 March 2018 Raw materials (includes in transit ` 43; 31 March 2018: ` 18) 8,920 7,279 Work-in-progress 7,201 7,190 Finished goods 7,127 6,875 Stock-in-trade 7,842 5,351 Packing material , stores and spares 2,489 2,394 33,579 29,089 During the year ended 31 March 2019, the Company recorded inventory write-down of ` 4,016 (31 March 2018 : ` 2,946) in the consolidated statement of profit and loss. 9. GMR INFRASTRUCTURE LIMITED Inventories are valued at the lower of cost and net realisable value. Costs incurred in bringing each product to its present location and condition are accounted for as follows: • Raw materials: cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition. • Finished goods and work in progress: cost includes cost of direct materials and labour and a proportion of manufacturing overheads based on the normal operating capacity, but excluding borrowing costs. • Traded goods: cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition. • Contract work in progress: contract work in progress comprising construction costs and other directly attributable overheads is valued at lower of cost and net realisable value. • Cost of inventories is determined on a weighted average basis. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale. • Costs incurred that relate to future activities on the contract are recognised as “Contract work in progress”. • Contract work in progress comprising construction costs and other directly attributable overheads is valued at lower of cost and net realisable value.

|32| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts • Assessment of net realisable value is made in each subsequent period and when the circumstances that previously caused inventories to be written-down below cost no longer exist or when there is clear evidence of an increase in net realisable value because of changed economic circumstances, the write-down, if any, in the past period is reversed to that extent of the original amount written-down so that the resultant carrying amount is the lower of the cost and the revised net realisable value 10. GODREJ PROPERTIES LIMITED Inventories Inventories comprising of completed flats and construction work-in-progress are valued at lower of cost or net realisable value. Construction work-in-progress includes cost of land, premium for development rights, construction costs, allocated interest and expenses incidental to the projects undertaken by the Group 11. GRASIM INDUSTRIES LIMITED Inventories are valued at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale. Raw materials, stores and spare parts, and packing materials are considered to be realisable at cost, if the finished products, in which they will be used, are expected to be sold at or above cost. The cost is computed on weighted-average basis which includes expenditure incurred for acquiring inventories like purchase price, import duties, taxes (net of tax credit) and other costs incurred in bringing the inventory to the present location and condition. Cost of finished goods and work-in-progress includes cost of raw material, cost of conversion based on normal capacity and other costs incurred in bringing the inventories to their present location and condition. The cost of finished goods and work-in-progress is computed on weighted-average basis. In the absence of cost, waste/scrap is valued at estimated net realisable value. Obsolete, defective, slow moving and unserviceable inventories, if any, are duly provided for. Proceeds, in respect of sale of raw materials/stores, are credited to the respective heads. 12. GVK POWER AND INFRASTRUCTURE LIMITED Inventories in the form of stores and spare parts held for use in rendering of services are valued at lower of cost and net realisable value. Cost is determined on a weighted average basis. Costs of purchased inventory are determined after deducting rebates and discounts. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale 13. HERO MOTOCORP LIMITED Inventories are stated at the lower of cost and net realisable value. Cost of inventories includes expenditure incurred in acquiring the inventories, production or conversion costs and other costs incurred in bringing them to their present location and condition. Costs of inventories are determined on a moving weighted average. Finished goods and work-in- progress include appropriate proportion of overheads. Net realisable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale.

|33| Chap. 2 – Ind AS 2 — Inventories Disclosure Inventories (lower of cost and net realisable value) Particulars As at March 31, 2019 As at March 31, 2018 Raw materials and components 619.86 447.08 Goods in transit of raw materials and components 151.11 111.78 Work in progress 31.73 37.44 Finished goods Two wheelers 278.78 215.68 Spare parts 38.84 37.19 Stores and spares 104.62 89.46 Loose tools 24.59 24.05 Total 1,249.53 962.68 The mode of valuation of inventories has been stated in note no. 3.12. 14. HINDUSTAN CONSTRUCTION COMPANY LIMITED a. Raw material, Stores, Spares, Fuel The stock of construction materials, stores, spares and embedded goods and fuel is valued at cost or net realisable value (‘NRV’), whichever is lower. Cost is determined on weighted average basis and includes all applicable cost of bringing the goods to their present location and condition. Net realisable value is estimated selling price in ordinary course of business less the estimated cost necessary to make the sale. b. Finished Goods (including Traded and Semi-finished goods) Finished Goods, traded goods and semi-finished goods are valued at the lower of the cost and NRV. Cost is determined on weighted average basis and include all applicable cost of bringing the goods in their present location and condition. NRV is the estimated selling price in ordinary course of business less the estimated cost necessary to make the sale c. Project work in progress Land and construction / development expenses are accumulated under “Project work-in-progress” and the same are valued at cost or net realizable value, whichever is lower. Cost of land purchased / acquired by the Group includes purchase / acquisition price plus stamp duty and registration charges. Construction / development expenditure includes cost of development rights, all direct and indirect expenditure incurred on development of land/ construction, attributable interest and financial charges and overheads relating to site management and administration less incidental revenues arising from site operations 15. HINDUSTAN UNILEVER LIMITED Inventories are valued at the lower of cost and net realisable value. Cost is computed on a weighted average basis. Cost of finished goods and work-in-progress include all costs of purchases, conversion costs and other costs incurred in bringing the inventories to their present location and condition. The net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and estimated costs necessary to make the sale. Disclosures below Notes (a) Finished goods includes good purchased for re-sale, as both are stocked together.

|34| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (b) During FY 2018-19 an amount of ` 134 crores (31st March, 2018: ` 174 crores) was charged to the Statement of Profit and Loss on account of damaged and slow moving inventory. The reversal on account of above during the year amounted to ` 6 crores (31st March, 2018: ` 1 crore). Disclosure Inventories As at 31st March, 2019 As at 31st March, 2018 Raw materials [includes in transit: ` 24 crores (31st March, 2018: ` 49 crores)] 859 763 Packing materials 36 65 Work-in-progress 252 249 Finished goods [includes in transit: ` 17 crores (31st March, 2018: ` 21 crores)] (Refer note (a) below) 1,206 1,221 Stores and spares 69 61 TOTAL 2,422 2,359 (a) Finished goods includes good purchased for re-sale, as both are stocked together. (b) During FY 2018-19 an amount of ` 132 crores (31st March, 2018: ` 165 crores) was charged to the Statement of Profit and Loss on account of damaged and slow moving inventory. The reversal on account of above during the year amounted to Nil (31st March, 2018: Nil). 16. INDIAN TOBACCO COMPANY LIMITED Inventories are stated at lower of cost and net realisable value. The cost is calculated on weighted average method. Cost comprises expenditure incurred in the normal course of business in bringing such inventories to its present location and condition and includes, where applicable, appropriate overheads based on normal level of activity. Net realisable value is the estimated selling price less estimated costs for completion and sale. Obsolete, slow moving and defective inventories are identified from time to time and, where necessary, a provision is made for such inventories. Disclosure Inventories* As at 31st March, 2019 As at 31st March, 2018 (` in Crores) (` in Crores) (At lower of cost and net realisable value) Raw materials (including packing materials) 5528.05 5407.07 Work-in-progress 249.88 195.67 Finished goods (manufactured) 1153.56 1097.02 Stock-in-trade (goods purchased for resale) 515.36 412.54 Stores and spares 351.81 316.53 Intermediates - Tissue paper and Paperboards 60.90 66.26 TOTAL 7859.56 7495.09 The above includes goods in transit as under: Raw materials (including packing materials) 191.08 128.56 Stock-in-trade (goods purchased for resale) – 0.72 Stores and spares 2.31 5.52 TOTAL 193.39 134.80

|35| Chap. 2 – Ind AS 2 — Inventories The cost of inventories recognised as an expense includes ` 29.05 Crores (2018 - ` 28.19 Crores) in respect of write-downs of inventory to net realisable value, and the same has been reduced by ` 1.70 Crores (2018 - ` 0.55 Crore) in respect of the reversal of such write-downs. Previous write-downs have been reversed as a result of subsequent increase in realisable value. Inventories of ` 574.91 Crores (2018 - ` 710.52 Crores) are expected to be recovered after more than twelve months. 17. INTERGLOBE AVIATION LIMITED (INDIGO) Inventories primarily includes stores and spares and loose tools (other than those which meet the criteria of property, plant and equipment), fuel and in-flight inventories. Inventories are valued at lower of cost and Net Realisable Value (‘NRV’). Cost of inventories comprise all costs of purchase after deducting nonrefundable rebates and discounts and all other costs incurred in bringing the inventories to their present location and condition. Cost are assigned to individual items of inventory on the weighted average cost basis. NRV for in-flight inventory is the estimated selling price of goods sold less the estimated cost necessary to make the sale. NRV for stores and spares, loose tools and fuel used in rendering of services are not written down below cost except in cases where the price of such materials have declined and it is estimated that the cost of rendering of services will exceed their selling price. Where necessary, due allowance is made for all damaged, obsolete and slow-moving items. The comparison of cost and net realizable value is made on an item by item basis at each reporting date. Disclosure Inventories Particulars As at 31 March 2019 As at 31 March 2018 Valued at lower of cost and net realisable value Stores and spares - Engineering stores and spares 1,952.80 1,141.55 - Goods in transit 60.13 79.74 2,012.93 1,221.29 Loose tools 29.98 27.91 Stock-in-trade - In-flight inventory 71.50 64.95 Fuel - 518.12 Total 2,114.41 1,832.27 18. IRB INFRASTRUCTURE DEVELOPERS LIMITED Inventories are valued as follows: Construction materials, components, stores, spares and tools Lower of cost and net realisable value. Cost is determined on weighted average basis and includes all applicable costs in bringing goods to their present location and condition Land Land of real estate business are valued at lower of cost and net realisable value. Cost includes land, cost of acquisition, legal cost and all other cost to transfer the legal and beneficial ownership of land in the name of the Group. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale

|36| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Note 11 : Inventories (valued at lower of cost and net realisable value) (` in millions) March 31, 2019 March 31, 2018 Construction material* 2,733.28 3,180.98 Land 1,691.58 1,691.58 Total 4,424.86 4,872.56 * Cash credit is secured by way of pari pasu charge on stock 19. JAGRAN PRAKASHAN LIMITED Inventories, comprising raw materials, finished goods and stores and spares, are stated at the lower of cost and net realisable value. Cost of raw materials comprises cost of purchases. Cost of inventories also includes all other costs incurred in bringing the inventories to their present location and condition. Costs of raw materials and stores and spares are assigned to individual items of inventory on the basis of first-in firstout basis and cost of finished goods is determined on direct cost basis. Costs of purchased inventory are determined after deducting rebates and discounts. Net realisable value is the estimated selling price in the ordinary course of business less the estimated. 20. LARSEN & TOUBRO LIMITED Inventories are valued after providing for obsolescence, as under: (i) Raw materials, components, construction materials, stores, spares and loose tools at lower of weighted average cost or net realisable value. However, these items are considered to be realisable at cost if the finished products in which they will be used, are expected to be sold at or above cost. (ii) manufacturing work-in-progress at lower of weighted average cost including related overheads or net realisable value. in some cases, manufacturing work-in-progress are valued at lower of specifically identifiable cost or net realisable value. in the case of qualifying assets, cost also includes applicable borrowing costs vide policy relating to borrowing costs. (iii) Finished goods and stock-in-trade (in respect of goods acquired for trading) at lower of weighted average cost or net realisable value. Cost includes related overheads and excise duty paid/payable on such goods. (iv) Completed property/work-in-progress (including land) in respect of property development activity at lower of specifically identifiable cost or net realisable value. Assessment of net realisable value is made at each subsequent period end and when the circumstances that previously caused inventories to be written-down below cost no longer exist or when there is clear evidence of an increase in net realisable value because of changed economic circumstances, the write-down, if any, in the past period is reversed to the extent of the original amount written-down so that the resultant carrying amount is the lower of the cost and the revised net realisable value NOTE [11] Current Assets: Inventories Particulars As at 31-3-2019 As at 31-3-2018 ` crore ` crore Raw materials [include goods-in-transit ` 53.34 crore (previous year: ` 18.52 crore)] 722.75 529.15 Components [include goods-in-transit ` 31.55 crore (previous year: ` 23.34 crore)] 529.55 474.91

|37| Chap. 2 – Ind AS 2 — Inventories Particulars As at 31-3-2019 As at 31-3-2018 ` crore ` crore Construction materials [include goods-in-transit ` 114.55 crore (previous year: ` 67.32 crore)] 221.57 151.41 Manufacturing work-in-progress 651.70 630.27 Finished goods 301.74 245.25 Stock-in-trade (in respect of goods acquired for trading) [include goods-intransit ` 38.79 crore (previous year: ` 6.31 crore)] 386.27 285.67 Stores and spares [including goods-in-transit ` 2.25 crore (previous year: ` 3.77 crore)] 295.49 209.55 Loose tools [include goods-in-transit ` 0.05 crore (previous year: ` Nil)] 14.66 14.12 Property development projects (including land) 3290.20 2307.47 6413.93 4847.80 Note: During the year ` 468.74 crore (previous year: ` 161.42 crore) was recognised as expense towards write-down of inventories. 21. MAHINDRA LIFESPACE DEVELOPERS LIMITED Inventories are stated at lower of cost and net realisable value. The cost of construction material is determined on the basis of weighted average method. Construction Work-in-Progress includes cost of land, premium for development rights, construction costs and allocated interest & manpower costs and expenses incidental to the projects undertaken by the Group 22. NAVNEET EDUCATION LIMITED f) Inventories Inventories are valued at the lower of cost and net realisable value. Costs incurred in bringing each product to its present location and condition are accounted for as follows: i) Raw Materials (including pen drive, CD), Packing Materials, Stores & Spares are valued at lower of cost and net realizable value. However, materials and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. The Cost comprises of costs of purchase, duties and taxes (other than those subsequently recoverable), conversion cost and other costs after deducting discounts and rebates which are incurred in bringing the inventories to their present location and condition. Cost is determined on the weighted average basis (first- in first-out basis in case of one subsidiary 'lndiannica Learning Private Limited'). Cost also includes the reclassification from equity of any gains or losses on qualifying cash flow hedges relating to purchases of raw material but excludes borrowing costs. ii) Finished Goods and Work in Progress are valued at lower of cost and net realizable value. Cost includes direct materials valued on weighted average basis (first-in first-out basis in case of one subsidiary 'lndiannica Learning Private Limited'), conversion cost (i.e. costs directly related to the units of production), an appropriate proportion of manufacturing overheads based on normal operating capacity and other costs incurred in bringing them to their present location and condition. Net realizable value is the estimated selling price in the ordinary course of business less estimated costs of completion and estimated costs necessary to make the sale. iii) Stocks in trade (Traded goods) are valued at lower of cost and net realizable value. Cost includes direct materials valued on weighted average basis (first-in first-out basis in case of one subsidiary 'lndiannica Learning Private Limited'), and other costs incurred in bringing them to their present location and condition.

|38| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts iv) Scraps are valued at estimated net realizable value. v) Cost of inventories is arrived at after providing for cost of obsolescence wherever considered necessary. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. 23. NESCO LIMITED Raw materials, work in progress, stores and spares and finished goods are valued at the lower of cost or net realizable value. However, materials and other items held for use in production of inventories are not written down below cost if the finished goods in which they will be incorporated are expected to be sold at or above cost. The comparison of cost and net realizable value is made on an item-by item basis. In determining the cost of raw materials, packing material and stores and spares, weighted average method is used. Cost of work in progress and finished goods comprises direct materials, direct labour, and an appropriate share of manufacturing overheads. Cost of Inventories comprises of costs of purchase, cost of conversion, duties and taxes (other than those refundable), inward freight and all other costs incurred in bringing them to their respective present location and condition. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. 24. PC JEWELLER LIMITED Raw Material Lower of cost or net realisable value. Cost is determined on first in first out (‘FIFO’) basis. Work in progress At cost determined on FIFO basis upto estimated stage of completion. Finished goods Lower of cost or net realisable value. Cost is determined on FIFO basis, includes direct material and labour expenses and appropriate proportion of manufacturing overheads based on the normal capacity for manufactured goods. Net realisable value is the estimated selling price in the ordinary course of business less estimated costs of completion and estimated costs of necessary to make the sale. Disclosure Inventories (` in crores) (valued at lower of cost and net realisable value) As at 31 March 2019 As at 31 March 2018 Raw materials 366.27 672.27 Work-in-progress 1,482.55 2,182.07 Finished goods 3,149.21 2,272.70 Stock-in-trade 14.35 130.55 5,012.38 5,257.59

|39| Chap. 2 – Ind AS 2 — Inventories 25. SADBHAV ENGINEERING LIMITED Project Inventories are valued at lower of cost and net realizable value. Cost comprise all cost of purchase, and other costs incurred in bringing the inventories to their present location and condition. Cost of materials is determined on first-in-first- out basis. Net realizable value is the estimated selling price less estimated cost necessary to make the sale. 26. SHALIMAR PAINTS LIMITED Significant Accounting Policies Inventory Inventory are valued at lower of cost, computed on weighted average basis, or net realizable value. Cost of inventories includes in case of raw material, cost of purchase including taxes and duties net of tax credits/ GST and incidental expenses; in case of work-in-progress, estimated direct cost including taxes and duties net of tax credits/GST and appropriate proportion of administrativ and other overheads; in case of finished goods, estimated direct cost including taxes and duties net of tax credits/GST and appropriate administrative and other overheads including other cost incurred in bringing the inventories to the present location and conditions; and in case of traded goods, cost of purchase and other costs incurred in bringing the inventories to the present location and conditions. The obsolete/damaged items of inventories are valued at estimated realizable value. Notes to Accounts INVENTORIES Particulars As at March 31, 2019 As at March 31, 2018 Raw Material Inventories 1,808.28 1,338.57 Goods in Transit 25.45 4.07 Work- in -Progress 287.15 213.45 Finished Goods Inventories [including trading goods ` 406.77 lakh (P.Y ` 543.51 lakh)] 4,692.33 5,477.60 Goods in Transit 223.03 243.03 Stores & spares 99.50 123.93 TOTAL 7,135.74 7,400.65 Exceptional Items Particulars Year ended March 31, 2019 Year ended March 31, 2018 Provision for insurance claim recoverable [see note (a) below] 412.39 — Disposable Inventories, as scrap [see note (b) below] 1,155.38 — TOTAL 1,567.77 — a) During the year 2017-18, the Company had recorded a insurance claim receivable of ` 1,474.81 lakh related to Howrah Plant on estimate basis pending final assessment by the insurer. In current year, based on the recoverability of insurance claim an amount of ` 412.39 lakh has been reversed. b) Reduction in value of old unusable inventories (resolved by the management to be disposed off as scrap) is, the carrying amount of said inventories and the same is confirmed by the IBBI registered valuer recognised under Companies Act, 2013.

|40| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 52. Fixed assets and inventories, except the said damaged assets, have been verified & valued as per applicable accounting standards as well as existing accounting policies of the Company, with no material discrepancy. 27. TATA COFFEE LIMITED Produce growing on Bearer plant is Biological asset and are fair valued based on the biological transformation, except where on initial recognition quoted market prices are not available and alternate fair value measures are clearly unreliable in which case biological asset is measured at cost less any accumulated depreciation and impairment loss. Tea, Coffee, Pepper and minor crops are designated as agricultural produce as per Ind AS 41 and are measured at their fair value less cost to sell at the point of harvest. Any changes in fair value are recognised in the Statement of Profit and Loss in the year in which they arise upon harvest. The fair valuation so arrived at becomes the cost of Inventory under Ind AS-2. Raw materials, work in progress, traded and finished goods are stated at the lower of cost and net realisable value, net realisable value represents the estimated selling price less all estimated cost of completion and selling expenses. Stores and spares are carried at cost. Provision is made for obsolete, slow-moving and defective stocks, where necessary. Valuations of agricultural produce are derived based on the market rates published by the industrial body for various grades. Disclosure Inventories including Biological Assets ` in Lakhs Particulars 2019 2018 Current Current Stores and spares 1907.17 1700.18 Raw materials 6617.59 3921.97 Raw materials in Transit 1698.21 1653.40 Finished Goods 19390.90 22419.08 Work-in-progress including Growing Produce of ` 445.38 Lakhs (PY ` 575.38 Lakhs) 445.38 594.74 Stock-in-trade 6987.58 2044.64 37046.83 32334.01 The mode of valuation of Inventories has been stated in Note No. 2.2(h) of Significant Accounting Policies. Inventories hypothecated as Security for part of the Working Capital facilities. 28. THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED Significant Accounting Policies Inventories Inventories are valued at lower of cost and net realizable value. Net realizable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale. Cost is determined as follows: i. Raw materials, stores and spares, finished goods and stock-in-trade on a weighted average method. ii. Work-in-progress PSF division

|41| Chap. 2 – Ind AS 2 — Inventories Material cost included in the valuation is determined on the basis of the weighted average rate and cost of conversion and other costs are determined on the basis of average cost of conversion of the preceding month. iii. Real Estate Under Development Real estate under development comprises cost of land, premium for development rights, rates & taxes, construction costs, borrowing costs, overheads and expenses incidental to the projects undertaken by the Group. Cost of land and construction / development costs are charged to Consolidated Statement of Profit and Loss proportionate to area sold and at the time when corresponding revenue is recognized. Notes to Accounts Inventories ` in crores Particulars As at March 31, 2019 As at March 31, 2018 Manufacturing and Retail Raw Materials 34.28 36.16 Raw Materials-in-transit 19.99 42.76 Work-in-progress 9.46 13.18 Finished goods 47.40 51.30 Finished goods-in-transit 2.81 8.39 Stock-in-Trade 47.58 36.34 Stores, Spares and Catalysts 12.76 9.62 Inventory - Manufacturing and Retail - (a) 174.28 197.75 Real Estate Work-in-progress 1,309.21 211.25 Others Transferable Development Rights 345.92 — Floor Space Index 371.11 — Inventory - Real Estate - (b) 2,026.24 211.25 Total (a) + (b) 2,200.52 409.00 a. The cost of inventories recognised as an expense during the current year is ` 1,892.33 crores (2017-18 : ` 1,144.82 crores) b. The value of inventories above is stated after impairment of ` 9.77 crores (March 31, 2018 : ` 9.37 crores) for write down to net realisable value and provision for slow moving and obsolete items. c. Certain Inventories are hypothecated against borrowings, details relating to which have been described in Notes - 21, 24 and 40. d For mode of valuation of inventories [Refer Note 2 (j)] e. In the opinion of the management, the net realisable value of the construction Work-in- progress will not be lower than the costs so included therein. 29. TRIDENT LIMITED Significant Accounting Policies Inventory Raw materials, work in progress, finished goods, process waste, stock-in-trade and stores and spares are valued at cost or net realizable value, whichever is lower. Net realizable value represents the estimated selling price for inventories less all estimated costs of completion and cost necessary to make the sale. The basis of determining cost for various categories of inventories is as follows:

|42| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts - Raw materials: Weighted average cost * - Cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition. - Work in progress: Cost of raw materials plus conversion cost depending upon the stage of completion. Cost is determined on a weighted average basis - Finished goods (including stock in transit): Cost of raw materials plus conversion cost and packing cost. Cost is determined on a weighted average basis. - Process waste is valued at net realizable value. - Stock in trade: Weighted average cost - Cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition. - Stores and spares: Weighted average cost - Cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition. * Includes by products which is valued at net realizable value. Notes to Accounts: NOTE 8. INVENTORIES * (` million) Particulars As at March 31, 2019 As at March 31, 2018 - Raw materials (including ` 65.4 million (previous year ` 143.8 million) in transit) 6,785.4 6,083.3 - Work in progress 1,281.4 1,218.3 - Finished goods (Including ` 397.6 million (previous year ` 161.9 million) in transit) 1,322.9 1,081.8 - Waste 36.9 73.1 - Stock in trade 9.3 2.6 - Stores and spares 684.7 767.1 Total 10,120.6 9,226.2 * At cost or net realizable value, whichever is lower Cost of Inventories recognised as expense includes ` 138.1 million (Previous year ` 66.5 million) in respect of write down of inventories to net realisable value. All inventories of Parent Company have been hypothecated/mortgaged to secure borrowings of the Parent Company. (refer note 17 and 18) 30. ULTRATECH CEMENT LIMITED Accounting Policies Inventories are valued as follows: • Raw materials, fuel, stores & spare parts and packing materials: Valued at lower of cost and net realisable value (NRV). However, these items are considered to be realisable at cost, if the finished products, in which they will be used, are expected to be sold at or above cost. Cost is determined on weighted average basis which includes expenditure incurred for acquiring inventories like purchase price, import duties, taxes (net of tax credit) and other costs incurred in bringing the inventories to their present location and condition. • Work-in- progress (WIP), finished goods, stock-in-trade and trial run inventories: Valued at lower of cost and NRV. Cost of Finished goods and WIP includes cost of raw materials, cost of conversion and other costs incurred in bringing the inventories to their present location and condition. Cost of inventories is computed on weighted average basis.

|43| Chap. 2 – Ind AS 2 — Inventories • Waste / Scrap: Waste / Scrap inventory is valued at NRV. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale. 31. VEDANTA LIMITED Accounting Policies (L) Inventories Inventories and work-in-progress are stated at the lower of cost and net realisable value. Cost is determined on the following basis: • Purchased copper concentrate is recorded at cost on a first-in, first-out (“FIFO”) basis; all other materials including stores and spares are valued on weighted average basis except in Oil and Gas business where stores and spares are valued on FIFO basis. • Finished products are valued at raw material cost plus costs of conversion, comprising labour costs and an attributable proportion of manufacturing overheads based on normal levels of activity and are moved out of inventory on a weighted average basis (except in copper business where FIFO basis is followed) and • By-products and scrap are valued at net realisable value. Net realisable value is determined based on estimated selling price, less further costs expected to be incurred for completion and disposal. 32. WESTLIFE DEVELOPMENT LIMITED Inventories are valued at lower of cost (determined on First in First Out basis) or net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs necessary to make the sale. Disclosure Inventories (valued at lower of cost and net realisable value) (` in Millions) As at March 31, 2019 As at March 31, 2018 Raw materials Food items (includes goods in transit ` 2.00 million (Previous Year ` 17.42 million)) 212.43 195.41 Paper Products (includes goods in transit ` 0.47 million (Previous Year ` 2.51 million)) 78.92 60.36 Toys & premiums 90.17 52.23 Stores, spares & consumables (includes goods in transit ` 0.14 million (Previous Year ` 0.38 million)) 28.42 28.82 Total 409.94 336.82

|44| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 33. ZEE ENTERTAINMENT ENTERPRISES LIMITED Accounting Policies Inventories i) Media Content: Media content i.e. Programs, Film rights, Music rights ((completed (commissioned / acquired) and under production)) including content in digital form are stated at lower of cost / unamortised cost or realisable value. Cost comprises acquisition / direct production cost. Where the realisable value of media content is less than its carrying amount, the difference is expensed. Programs, film rights, music rights are expensed / amortised as under : 1) Programs - reality shows, chat shows, events, game shows and sports rights etc. are fully expensed on telecast / upload. 2) Programs (other than (1) above) are amortised over three financial years starting from the year of first telecast/upload, as per management estimate of future revenue potential 3) Film rights are amortised on a straight-line basis over the licensed period of sixty months from the commencement of rights, whichever is shorter. 4) Music rights are amortised over three financial years starting from the year of commencement of rights, as per management estimate of future revenue potential. 5) Films produced and/or acquired for distribution/sale of rights : Cost is allocated to each right based on management estimate of revenue. Film rights are amortised as under : a) Satellite rights - Allocated cost of right is expensed immediately on sale. b) Theatrical rights - 80% of allocated cost is amortised immediately on theatrical release and balance allocated cost is amortised equally in following six months. c) Intellectual Property Rights (IPRs) - Allocated cost of IPRs are amortised over 5 years subsequent to year in which film is released. d) Music and Other Rights - Allocated cost of each right is expensed immediately on sale. ii) Raw Stock Tapes are valued at lower of cost or estimated net realisable value. Cost is taken on weighted average basis. ll

|45| Chap. 3 – Ind AS 7 — Statement of Cash Flows Chapter 3 Ind AS 7 — Statement of Cash Flows 1. AJANTA PHARMA LIMITED Cash Flow Statements :- Cash flows are reported using the indirect method, whereby net profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flow from operating, investing and financing activities of Company are segregated. Amendment to Ind AS 7: Statement of Cash Flows The amendment to Ind AS 7 requires the entities to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes. These amendments are effective for annual periods beginning on or after 1st April 2017. Application of the amendments will result in additional disclosures provided by the Group. Statement of cash flows: - The transition from previous GAAP to Ind AS has not had a material impact on the statement of cash flows. Under Ind AS, bank overdrafts repayable on demand and which form an integral part of the cash management process are included in cash and cash equivalents for the purpose of presentation of statement of cash flows. Under previous GAAP, bank overdrafts were considered as part of borrowings and movements in bank overdrafts were shown as part of financing activities. Consequently, cash and cash equivalents have reduced by ` 11.58 cr. as at 31st March 2016 (1st April 2015 – ` 12.82 cr.). 2. BAJAJ AUTO LIMITED For presentation in the Statement of Cash Flows, cash and cash equivalents includes cash on hand, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. 3. GODREJ PROPERTIES LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2019. (Currency in INR Crore) Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 (Restated) Cash Flow from Operating Activities Profit before tax 348.20 116.88 Adjustment for: Depreciation and amortisation expense 14.34 16.13 Finance costs 234.03 150.13 Loss /(profit) on sale of property, plant and equipment (net) 7.35 (0.08) Share of (profit)/loss in joint ventures and associate (13.95) 36.55 Share based payments to employees 3.55 3.99 Expenses on amalgamation 0.40 1.07 Interest income (232.40) (138.74)

|46| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (Currency in INR Crore) Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 (Restated) Dividend income (0.00) — Profit on sale of investments (net) (61.44) (209.44) Income from Investment measured at FVTPL (95.63) (147.71) Allowance for bad and doubtful debts 20.18 39.95 Liabilities written back (10.89) — Write down of inventories 4.75 100.87 Lease rent from investment property (0.79) (0.37) Operating profit/(loss) before working capital changes 217.70 (30.77) Changes in Working Capital: (Decrease)/Increase in Non-financial Liabilities (1,172.67) 187.73 (Decrease) in Financial Liabilities (71.77) (79.35) Decrease in Inventories 1,632.45 1,124.85 (Increase)/Decrease in Non-financial Assets (0.58) (51.93) (Increase) in Financial Assets (89.01) 72.81 298.42 1,254.11 Taxes Paid (net) (38.06) (68.52) Net Cash Flows generated from operating activities 478.06 1,154.82 Cash Flow from Investing Activities Acquisition of property, plant and equipment, investment property and intangible assets* (74.38) (150.43) Proceeds from sale of property, plant and equipment 0.59 0.14 Investment in debentures of joint ventures (141.33) (102.77) (Purchase) of mutual funds (net) (386.45) (155.54) Sale / (Purchase) of investments in fixed deposits (net) 15.81 (161.75) Investment in joint ventures and associate (503.93) (20.16) Proceeds from sale of investment in joint ventures 0.01 — Proceeds from sale of investment in subsidiaries (refer note (c) below) — 201.24 Acquisiton of subsidiary, net of cash and cash equivalents (refer note (d) below) (42.73) — Loan refunded by/(given) to joint ventures (net) 29.80 (670.37) Loan given to others (net) (8.00) (0.26) Expenses on amalgamation (0.40) (1.07) Dividend received 0.00 — Interest received 129.64 87.17 Lease rent from investment property 0.79 0.37 Net Cash Flows (used in) investing activities (980.58) (973.43) Cash Flow from financing activities Proceeds from issue of equity share capital (net of issue expenses) 999.53 0.06 Proceeds from long-term borrowings — 500.00 Repayment of long-term borrowings — (474.76) Proceeds from /(Repayment of) short-term borrowings (net) 265.49 (221.68)

|47| Chap. 3 – Ind AS 7 — Statement of Cash Flows (Currency in INR Crore) Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 (Restated) Interest paid (294.97) (298.42) Proceeds from sale of treasury shares - 2.63 Payment of unclaimed dividend (0.00) (0.01) Payment of unclaimed fixed deposits (0.27) (0.69) Net Cash Flows generated from/ (used in) financing activities 969.78 (492.87) Net Increase / (Decrease) in Cash and Cash Equivalents 467.26 (311.48) Cash and Cash Equivalents - Opening Balance (499.99) (188.51) Cash and Cash equivalents of subsidiary acquired during the year (refer note (d) below) 9.21 — Cash and Cash Equivalents - Closing Balance (23.52) (499.99) Notes : (a) The above Consolidated Statement of Cash Flows has been prepared under the ‘Indirect Method’ as set out in the Indian Accounting Standard (Ind AS) -7 “Statement of Cash Flows”. (b) Reconciliation of Cash and Cash Equivalents as per the Consolidated Statement of Cash Flows. Cash and Cash Equivalents as per the above comprise of the following: Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 (Restated) Cash and Cash Equivalents (refer note 14) 152.51 126.31 Less: Bank overdrafts repayable on demand (refer note 22) 176.03 626.30 Cash and Cash Equivalents as per the Consolidated Statement of Cash Flows (23.52) (499.99) (c) Effect of disposal of subsidiaries on the financial position of the Group: Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 (Restated) Capital work-in-progress 0.00 476.72 Investments in joint ventures and associate 0.00 0.00 Deferred tax assets (Net) 0.00 0.10 Current non-financial assets 0.00 2.39 Cash and cash equivalents 0.01 0.13 Non current financial liabilities 0.00 456.56 Current financial liabilities 0.06 21.69 Current non-financial liabilities 0.00 0.79 Assets net of Liabilities (0.05) 0.29 Consideration received, satisfied in cash — 136.17 Cash and Cash Equivalents disposed off — (0.13) Net Cash Inflows — 136.04

|48| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (d) Effect of acquisition of full control in Joint Venture on the financial position of the Group: Particulars For the year ended March 31, 2019 Property, plant and equipment 0.03 Intangible assets 0.02 Non-current financial assets 0.10 Deferred tax assets (Net) 1.29 Income tax assets (Net) 5.17 Inventories 106.24 Current financial assets 38.15 Cash and cash equivalents 9.21 Bank balances other than above 0.50 Current non-financial assets 41.93 Current financial liabilities (51.61) Current non-financial liabilities (48.01) Current tax liabilities (4.01) Assets net of liabilities 99.01 Consideration paid, satisfied in cash 42.73 Cash and cash equivalents acquired 9.21 Net Cash outflows 33.52 (e) Changes in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes: Reconciliation of liabilities arising from financing activities Particulars As at April 01, 2018 (Restated) Changes as per the Consolidated Statement of Cash Flows Non Cash Changes As at March 31, 2019 Acquisition Changes from losing control of subsidiary Fair Value Changes Long-term borrowings 500.00 — — — — 500.00 Short-term borrowings 2,570.12 265.49 — — — 2,835.61 Particulars As at April 01, 2017 (Restated) Changes as per the Consolidated Statement of Cash Flows Non Cash Changes As at March 31, 2018 (Restated) Acquisition Changes from losing control of subsidiary Fair Value Changes Long-term borrowings 474.76 25.24 — — — 500.00 Short-term borrowings 3,248.36 (221.68) — (456.56) — 2,570.12 (f) The above Consolidated Statement of Cash Flows include INR 1.78 Crore (Previous Year 2018: INR 2.08 Crore) towards Corporate Social Responsibility (CSR) activities (refer note 49). * During the year, INR Nil (Previous Year 2018: INR 12.79 Crore, INR 64.79 Crore and INR 2.60 Crore) amount of inventories have been transferred to property, plant and equipment, capital work-in-progress and investment property respectively.

|49| Chap. 3 – Ind AS 7 — Statement of Cash Flows 4. KANSAI NEROLAC PAINTS LIMITED Cash and cash equivalent for Cash Flow Statement ` in Crores Year ended 31st March, 2019 Year ended 31st March, 2018 Cash and Cash Equivalents at Beginning of the year the components being: Cash on hand 0.10 0.80 Cheques on hand 29.23 21.79 Balances with Banks on Current, Margin and Fixed Deposit Accounts 33.22 32.42 Bank Overdrafts and Cash Credit (Refer Note 21) (1.89) — Effect of exchange rate fluctuation 0.66 0.61 61.32 55.62 Cash and Cash Equivalents at end of the year the components being: Cash on hand 2.28 0.10 Cheques on hand 25.03 29.23 Balances with Banks on Current, Margin and Fixed Deposit Accounts (Inclusive of balances taken over on acquisition of subsidiaries) 65.22 33.22 Bank Overdrafts and Cash Credit (Refer Note 21) (66.57) (1.89) Effect of exchange rate fluctuation 0.84 0.66 26.80 61.32 Net (Decrease) / Increase as disclosed above (34.52) 5.70 Debt Reconciliation Statement in accordance with Ind AS 7 31st March, 2019 31st March, 2018 Opening Balances Non-Current Borrowing 18.33 28.65 Current Borrowings (Excluding Bank Overdrafts and Cash Credit) 14.94 — Movements Non-Current Borrowing (Note iii) (6.89) (10.32) Current Borrowings (Excluding Bank Overdrafts and Cash Credit) (Note iv) 15.00 14.94 Closing Balances Non-Current Borrowing 11.44 18.33 Current Borrowings (Excluding Bank Overdrafts and Cash Credit) 29.94 14.94 Notes: i. Figures in brackets are outflows/deductions. ii. The above Cash Flow Statement is prepared under the "Indirect Method" as set out in the Indian Accounting Standards (Ind AS-7) – Statement of Cash Flows. iii. The movement of Non-Current Borrowing includes Borrwings acquired of ` 0.86 Crore during the year (Refer Note 43).

|50| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts iv. The movement of Current Borrowing includes Borrwings acquired of ` 51.25 Crores during the year (Refer Note 43). 5. LARSEN & TOUBRO LIMITED 3. Cash and cash equivalents included in the Statement of Cash flows comprise the following: As at 31-3-2019 As at 31-3-2018 ` crore ` crore (a) Cash and cash equivalents disclosed under current assets [Note 14] 6509.49 6834.34 (b) Other bank balances disclosed under current assets [Note 15] 5216.75 1198.39 (c) Cash and bank balances disclosed under non-current assets [Note 9] 290.07 320.31 Total Cash and cash equivalents as per Balance Sheet 12016.31 8353.04 Add: (i) Unrealised exchange (gain)/loss on cash and cash equivalents 13.94 (35.65) Less: (ii) Other bank balances disclosed under current assets [Note 15] 5216.75 1198.39 Less: (iii) Cash and bank balances disclosed under non-current assets [Note 9] 290.07 320.31 Total Cash and cash equivalents as per Statement of Cash Flows 6523.43 6798.69 4. Previous year’s figures have been regrouped/reclassified wherever applicable. Note [62] Disclosure pursuant to Ind AS 7 “Statement of Cash Flows” - Changes in Liabilities arising from financing activities: ` crore Sr. No. Particulars Noncurrent borrowings (note 22) Current borrowings (note 26) Current maturities of long term borrowings (note 27) Total 1 Balance as at 1-4-2017 67340.58 16534.47 10078.90 93953.95 2 Proceeds from Borrowings (net) 14133.39 2680.02 (4172.13) 12641.28 3 Effect of changes in foreign exchange rates 11.23 56.03 (8.64) 58.62 4 Interest accrued (net of interest paid) (326.42) 61.33 1135.32 870.23 5 Other changes (transfer within categories) (8244.02) — 8244.02 – 6 Balance as at 31-3-2018 72914.76 19331.85 15277.47 107524.08 7 Proceeds from Borrowings (net) 8493.76 7765.14 1606.44 17865.34 8 Effect of changes in foreign exchange rates 46.45 210.74 240.30 497.49 9 Interest accrued (net of interest paid) (250.03) 0.11 (81.82) (331.74) 10 Other changes (transfer within categories) (7084.15) 1916.00 5168.15 – 11 Balance as at 31-3-2019 74120.79 29223.84 22210.54 125555.17

|51| Chap. 3 – Ind AS 7 — Statement of Cash Flows Amounts reported in Statement of Cash Flows under financing activities: ` crore Particulars 2018-19 2017-18 Proceeds from non-current borrowings 24181.62 46903.46 Repayments of non-current borrowings (14081.42) (36942.20) Proceeds from other borrowings (net) 7765.14 2680.02 Changes from financing cash flows (as above) (a) 17865.34 12641.28 Repayments on account of liability classified as held for sale (b) — (22.28) Total changes from financing cash flows (a+b) 17865.34 12619.00 6. SHOPPERS STOP LIMITED Accounting Policies 2.14 Cash and cash equivalents Cash and cash equivalents in the balance sheet for the purpose of cash flow statement comprises cash in hand and cash at bank including fixed deposit with original maturity period of three months and short-term highly liquid investments with an original maturity of three months or less net of outstanding bank over drafts as they are considered an integral part of the Group’s cash management. Disclosure CASH FLOWS for the year ended 31 March 2019 ` in lacs For the year ended 31 March 2019 For the year ended 31 March 2018 Cash flows from operating activities Profit before tax from continuing operations 10,991.66 29,141.75 (Loss) before tax from discontinued operations (1.25) (5,939.22) Net (Loss)/ profit after exceptional item and tax 10,990.41 23,202.53 Adjustments to reconcile profit before tax to net cashflow Depreciation and amortisation 14,060.19 11,490.46 Allowance for doubtful debts / advances 148.26 270.65 Share-based payment expense 20.59 10.63 Finance costs 1,378.76 3,768.46 Loss on sale of property, plant and equipment (net) 20.06 52.39 Refundable deposit considered in measurement of minimum lease payments 802.13 821.28 Interest(time value) recognised on interest free lease deposit (690.15) (680.87) Interest income (366.48) (1,458.08) Exceptional items – (21,598.69) Operating Profit before working capital changes 26,363.77 15,878.76 (Increase) / Decrease in inventories (71,561.75) 22,124.62 Decrease in trade receivables 47.48 1,479.02 (Increase) in other financial assets and other non-current assets (170.73) (33,758.01) (Increase) / Decrease in Lease deposits-net (1,482.92) 5,753.89 (Decrease) / Increase in Short-term provisions (74.10) 4.22

|52| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts For the year ended 31 March 2019 For the year ended 31 March 2018 Increase in Trade payables, other financial liabilities and other current liabilities 73,409.81 21,886.42 Cash generated from operations 26,531.56 33,368.92 Income taxes paid (net of refunds) (5,647.69) (3,562.32) Net cash from operating activities (A) 20,883.87 29,806.60 Cash flows from Investing activities Purchase of property, plant and equipment (11,368.31) (11,458.49) Proceeds from disposal of property, plant and equipment 39.19 52.03 Proceeds from sale of investment in Joint ventures (Refer note 35) – 2,870.43 Net Proceeds from sale of investments in subsidiary (Refer note 35) – 5,568.62 Purchases of investments in mutual funds (111,990.78) (24,479.72) Proceeds from sale of investments in mutual funds 109,749.21 22,476.17 Interest received 366.48 1,464.39 Net cash used in investing activities (B) (13,204.21) (3,506.57) Cash flows from Financing activities Proceeds from issue of equity shares 1.47 222.79 Securities premium on issue of share capital 104.39 17,918.50 Issue of share capital to minority shareholders – 1,451.07 Dividend and dividend distribution tax (795.60) (753.81) Repayment of long-term borrowings (4,276.78) (19,426.16) Short-term loans (net) – (12,353.97) Finance costs paid (1,375.73) (4,159.83) Net cash used in financing activities (C) (6,342.25) (17,101.41) Net (Decrease) / Increase in cash and cash equivalents (A)+(B)+(C) 1,337.41 9,198.62 Cash and cash equivalents as at beginning of the year (3,299.89) (12,498.51) Cash and cash equivalents as at the end of the year (1,962.48) (3,299.89) 1,337.41 9,198.62 For the year ended 31 March 2019 For the year ended 31 March 2018 Note (i) Components of cash and cash equivalents Cash and Cash Equivalents as at 31 March 2019 (Refer note 10) 1,713.70 534.88 Add: Bank overdraft / Cash credit (3,676.18) (3,834.77) Total cash and cash equivalents (1,962.48) (3,299.89) Note (ii) Reconciliation between the opening and closing balances for liabilities arising from financing activities Particulars Long – term borrowings Short – term borrowings 31 March 2017 including current maturities of long term borrowings 63,110.26 12,353.97 Cash flow (19,426.16) (12,353.97) Non-Cash Changes Borrowings pertaining to subsidiary sold during the year (Net proceeds shown under investing activities) (34,983.99) -

|53| Chap. 3 – Ind AS 7 — Statement of Cash Flows Particulars Long – term borrowings Short – term borrowings Foreign exchange movement – – Classified as current maturity 4,300.03 – Accrual for the period – – 31 March 2018 including current maturities of long term borrowings 8,700.11 – Cash flow (4,276.78) – Non-Cash Changes Foreign exchange movement – – Classified as current maturity 4,221.41 Accrual for the period – – 31 March 2019 including current maturities of long term borrowings 4,423.33 – 7. ULTRATECH CEMENT LIMITED Accounting Policies (w) Cash and cash equivalents: Cash and cash equivalents in the Balance Sheet comprise cash at bank and in hand and short-term deposits with banks that are readily convertible into cash which are subject to insignificant risk of changes in value and are held for the purpose of meeting short-term cash commitments. Consolidated Cash flow statement ` in Crores Particulars As at March 31, 2019 As at March 31, 2018 A. Cash Flow from Operating Activities: Profit Before tax 3,538.37 3,301.47 Adjustments for: Depreciation and Amortisation 2,139.80 1,847.93 Gain on Fair Valuation of Investments (120.36) (263.57) Gain on Fair Valuation of VAT Deferment Loan (45.49) (3.86) Gain on Fair Value movement in Derivative Instruments (30.07) (3.07) Unrealised Exchange Loss 32.19 - Share in (Profit)/Loss on equity accounted investment (0.54) 0.13 Impairment on deconsolidation of subsidiary - 45.46 Impairment in Assets - 74.86 Compensation Expenses under Employees Stock Options Scheme 9.60 7.85 Allowances for credit losses on Advances/debts (net) 12.10 22.93 Bad Debts Written-off 0.66 0.06 Excess Provision written back (net) (50.91) (136.88) Provision for Mines Restoration - (Release)/Charge (6.69) 30.53 Interest and Dividend Income (94.48) (66.11) Finance Costs 1,548.57 1,237.60 (Profit)/Loss on Sale/Retirement of Property, Plant and Equipment (net) (3.33) 5.44 Profit on Sale of Current and Non-Current Investments (net) (122.08) (114.81) Operating Profit before Working Capital Changes 6,807.34 5,985.96 Movements in working capital: Increase in Trade payables and other Liabilities 1,053.66 346.15

|54| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts ` in Crores Particulars As at March 31, 2019 As at March 31, 2018 Increase/(Decrease) in Provisions (63.39) 164.50 (Increase) in Trade receivables (313.39) (454.00) (Increase) in Inventories (241.61) (622.62) (Increase) in Financial and Other Assets (1,372.70) (689.38) Cash generated from Operations 5,869.92 4,730.61 Taxes paid (net of refund) (710.05) (842.89) Net Cash generated from Operating Activities (A) 5,159.87 3,887.72 B. Cash Flow from Investing Activities: Purchase of Property, Plant and Equipment (1,660.67) (2,096.50) Sale of Property, Plant and Equipment 156.76 219.90 Expenditure for Cost of transfer of Assets (52.32) (6.16) Sale of Liquid Investment (net) 122.08 13.80 Purchase of Investments (1,700.00) (3,960.23) Sale of Investments 4,356.35 5,574.22 Investment in Non-Current Bank deposits (1.36) (2.33) Investment in Joint Venture and Associates (7.95) (0.83) Investment in Preference Shares (20.00) - Redemption of Preference Shares 20.00 - Redemption/(Investment) in Other Bank deposits (108.74) 2,052.75 Interest Received 102.10 66.95 Net Cash generated from Investing Activities (B) 1,206.25 1,861.57 C. Cash Flow from Financing Activities: Proceeds from Issue of Share Capital on exercise of ESOS 5.21 15.72 Transaction Cost on cancellation of equity shares of Subsidiary (1.50) - Purchase of Treasury Shares (81.21) - Repayment of Non-Current Borrowings (13,869.21) (6,354.71) Proceeds from Non-Current Borrowings 9,801.03 15,775.12 Repayment of Short-Term Borrowings (net) (69.53) (2,940.74) Repayment of Borrowings transferred from JAL and JCCL, pursuant to Scheme of Arragement - (10,686.55) Interest Paid (1,483.66) (1,209.85) Dividend Paid Including Dividend Distribution Tax (346.16) (334.04) Net Cash used in Financing Activities (C) (6,045.03) (5,735.05) Net Increase in Cash and Cash Equivalents (A + B + C) 321.09 14.24 Cash and Cash Equivalents at the Beginning of the Year 77.19 58.80 Cash and Cash Equivalents transferred from UNCL 38.52 - Effect of Exchange rate fluctuation on Cash and Cash Equivalents 0.45 4.15 Cash and Cash Equivalents at the end of the Year (Refer Note 12) 437.24 77.19 Notes: 1. Cash flow statement has been prepared under the indirect method as set out in Ind AS-7 specified under Section 133 of the Act. 2. Purchase of Property, Plant and Equipment includes movements of capital work-in-progress (including capital advances) during the year.

|55| Chap. 3 – Ind AS 7 — Statement of Cash Flows 3. The Scheme of arrangement between JAL, JCCL and the Company does not involve any cash outflow and the consideration has been discharged through issue of debentures and preference shares. (Refer Note 42) 4. Repayment of Borrowings includes amount paid to financial creditors as per the resolution plan. (Refer Note 41) 5. Changes in liabilities arising from financing activities Particulars As at March 31, 2018 Cash flows Non-Cash change As at March On account 31, 2019 of foreign exchanges rates Others on account of acquisition (Refer note 41) Non-Current Borrowing (including current maturities of Non-Current Borrowing) 16,716.78 (4,068.18) 124.29 7,321.14 20,094.03 Current Borrowing 2,763.44 (69.53) (4.72) 35.13 2,724.32 19,480.22 (4,137.71) 119.57 7,356.27 22,818.35 8. VODAFONE IDEA LIMITED Accounting Policies q) Cash and cash equivalents Cash and cash equivalents in the Consolidated balance sheet comprise of cash at bank and on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value. For the purpose of the statement of consolidated cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral part of the Group’s cash management. Disclosure Consolidated Statement of Cash Flows for the Year Ended March 31, 2019 ` Mn Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 Operating activities Loss before tax (181,754) (64,992) Adjustments to reconcile loss before tax to net cash flows Share in (profit) of joint ventures and associate (net) (1,968) (3,224) Depreciation of property, plant and equipment and investment property 77,984 50,630 Amortisation of intangible assets 67,372 33,461 Share-based payment expense (ESOS) 246 (229) (Gain)/ loss on disposal of property, plant and equipment and intangible assets (net) (91) (274) Accelerated depreciation on account of network re-alignment/ integration (refer note 43) 5,511 - Finance costs (including fair value change in financial instruments) 94,628 48,130

|56| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts ` Mn Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 Provision for gratuity and compensated absences (672) 254 Bad debts/ advances written off 28 59 Allowance for doubtful debts/advances 2,301 1,630 Liabilities/ provisions no longer required written back (652) (223) Gain on sale of ICISL and profit before tax of ICISL up to date of sale (33,766) - Other income (7,311) (3,530) Working capital adjustments Decrease in trade receivables 3,506 1,996 Decrease in inventories 361 221 Increase in other financial and non-financial assets (3,666) (2,483) Increase/ (Decrease) in trade payables 40,872 (4,558) (Decrease)/ Increase in other financial and non-financial liabilities (13,043) 620 Cash flows from operating activities 49,886 57,488 Income tax refund/ (paid) (including TDS) (net) 2,795 (4,164) Net cash flows from operating activities 52,681 53,324 Investing activities Purchase of property, plant and equipment and intangible assets (including CWIP and intangible assets under development) (76,519) (86,508) Payment towards -one time spectrum charges (39,263) Proceeds from sale of property, plant and equipment and intangible assets 659 493 Proceeds from sale of subsidiary (refer note 44(i)) 42,303 - Additional investment in associate (refer note 11)(1) (571) (991) Net purchase from sale of current investments (3,731) (8,385) Interest received 344 17 Dividend received from joint venture (Indus) 2,990 2,657 Net cash flows used in investing activities (73,788) (92,717) Consolidated Statement of Cash Flows for the year ended March 31, 2019 ` Mn Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 Financing activities Proceeds from issue of equity shares on exercise of share options 1 58 Proceeds from allotment of equity share under Qualified Institutional Placement (QIP) (Net of share issue expenses of ` 309 Mn) (refer note 44(vii)) - 34,691 Proceeds from Preferential allotment of equity shares (Net of share issue expenses of ` 35 Mn) (refer note 44(vii)) - 32,465 Stamp duty on issue of shares on amalgamation of VMSL and VInL with the Company (refer note 3) (83) -

|57| Chap. 3 – Ind AS 7 — Statement of Cash Flows ` Mn Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 Payment of interest and finance charges(2) (49,914) (54,900) Proceeds from long term borrowings 58,072 44,950 Repayment of long term borrowings (12,432) (18,015) Proceeds from short term borrowings 33,712 - Repayment of short term borrowings (58,053) - Net cash flows from/ (used in) financing activities (28,697) 39,249 Net decrease in cash and cash equivalents during the year (49,804) (144) Cash and cash equivalents at the beginning of the year (24) 435 Add: Cash and cash equivalent of VInL and its subsidiaries on amalgamation of VMSL and VInL with the Company (net of bank overdraft ` 5,991 Mn (March 31, 2018: Nil)) (refer note 3) 58,307 - Less: Cash and cash equivalents of VMPL (refer note 44(ii)) (921) - Less: Cash and cash equivalents of ICISL (refer note 44(i)) - (296) Less: Cash and Cash Equivalent of IMCSL (refer note 44(v)) - (19) Cash and cash equivalents at the end of the year 7,558 (24) (1) Excludes value of shares allotted on merger of IMCSL, being non-cash transaction. (2) Includes interest payment on deferred payment liabilities forming part of long term borrowings 1. Cash and Cash Equivalents include the following Balance Sheet amounts ` Mn Particulars For the year ended March 31, 2019 For the year ended March 31, 2018 Cash on hand 82 10 Cheques on hand 461 28 Balances with banks In current accounts 6,459 155 In deposit accounts 1,426 - 8,428 193 Less: Bank overdraft which forms an integral part of cash management (refer note 29) (870) (217) 7,558 (24) 2. Disclosure of changes in liabilities arising from financing activities on account of non-cash transactions ` Mn Particulars Borrowing including current maturities Changes in derivative liabilities (net) Interest accrued but not due Balance as at April 1, 2017 550,198 1,885 28,551 (i) Cash flow Items Net proceed/ (repayment) of borrowings 26,935 - - Payment of Interest and finance charges (22,403) (1,759) (30,738)

|58| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts ` Mn Particulars Borrowing including current maturities Changes in derivative liabilities (net) Interest accrued but not due (ii) Non-cash items Foreign exchange (gain)/ loss 81 - (81) Accrued interest on sub-judice matters - - (473) Finance cost accrued (charged to profit and loss/ capitalised) - (42) 52,239 Interest on asset retirement obligation - - (47) Deferred payment liability for spectrum on allotment of Spectrum 3,180 - - Net upfront fees addition/ amortisation 524 - (524) Accrued interest on deferred payment liability for spectrum transferred to borrowing on anniversary date 21,119 - (21,119) Balance as at March 31, 2018 579,634 84 27,808 (i) Cash flow Items Net proceed/ (repayment) of borrowings 21,299 - - Payment of Interest and finance charges (9,023) (70) (40,821) (ii) Non-cash items Addition pursuant to amalgamation of VMSL, VInL and its subsidiaries with the Company (refer note 3) 622,887 (2,453) 26,331 Foreign exchange (gain)/ loss 1,389 - (1,389) Finance cost accrued (charged to profit and loss/ capitalised) - 3,011 94,566 Upfront fees amortisation 907 - (907) Interest on asset retirement obligation - - (9) Accrued interest on finance lease and deferred payment liability for spectrum transferred to borrowing on anniversary date 41,436 - (41,436) Balance as at March 31, 2019 1,258,529 572 64,143 3. The above Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 on Statement of Cash Flows. The accompanying notes are an integral part of the financial statements. ll

|59| Chap. 4 – Ind AS 8 — Accounting Policies, Changes in Accounting Estimates and Errors Chapter 4 Ind AS 8 — Accounting Policies, Changes in Accounting Estimates and Errors 1. ADANI POWER LIMITED New and amended standards The Group applied Ind AS 115 for the first time. The nature and effect of the changes as a result of adoption of these new accounting standards are described below. Several other amendments and interpretations apply for the first time in March 2019, but do not have an impact on the financial statements of the Group. The Group has not early adopted any standards or amendments that have been issued but are not yet effective. Ind AS 115 Revenue from Contracts with Customers Ind AS 115 was issued on 28th March, 2018 and supersedes Ind AS 11 Construction Contracts and Ind AS 18 Revenue and it applies, with limited exceptions, to all revenue arising from contracts with its customers. Ind AS 115 establishes a five-step model to account for revenue arising from contracts with customers and requires that revenue be recognised at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer. The Group typically generate and supply power for a singular rate based on a unit of generation at a specified facility over the term of the agreement. In these type of arrangements, volume reflects total energy generation measured in kWhs which can vary period to period depending on system and resource availability. The contract rate per unit of generation (kWhs) is generally fixed at contract inception; however, certain pricing arrangements can provide at the time-of-delivery, seasonal or market index adjustment mechanisms over time. The customer is invoiced monthly equal to the volume of energy delivered multiplied by the applicable contract rate. The Group considers power supplied under the PPAs to be distinct performance obligations. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied under Ind AS 115. The Group views the sale of power as a series of distinct goods that is substantially the same and has the same pattern of transfer measured by the output method. Although the Group views power supplied under the PPAs to be performance obligations satisfied at a point in time, measurement of satisfaction and transfer of control to the customer in a bundled arrangement coincides with a pattern of revenue recognition with the underlying energy generation. Accordingly, the Group applied the practical expedient in Ind AS 115 as the right to consideration corresponds directly to the value provided to the customer to recognize revenue at the billable amount for its PPA contracts. The Group adopted Ind AS 115 using the modified retrospective method of adoption. The adoption of the standard did not have any material impact on the financial statements of the Group. Amendment to Ind AS 20 Government grant related to non-monetary assets The amendment clarifies that where the government grant related to asset, including non-monetary grant at fair value, it shall be presented in balance sheet either by setting up the grant as deferred income or by deducting the grant in arriving at the carrying amount of the asset. Prior to the amendment, Ind AS 20 “Accounting for Government Grants” did not allow the option to present asset related grant by deducting the grant from the carrying amount of the asset. These amendments do not have any impact on the consolidated financial statements as the Group continues to present grant relating to asset by setting up the grant as deferred income.

|60| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 2. COAL INDIA LIMITED Accounting Policies Judgements, Estimates and Assumptions Materiality W.e.f 01.04.2018 Errors/omissions discovered in the current year relating to prior periods are treated as immaterial and adjusted during the current year, if all such errors and omissions in aggregate does not exceed 0.50% of total revenue from Operations (net of statutory levies) as per last audited financial statement of CIL Consolidated. Disclosures The reconciliation between Total Comprehensive Income (TCI) for the quarter/year ended 31.03.2018 and now restated, as per Ind AS 8, is as under: (` in Crore) For the quarter ended March, 2018 For the Year ended March, 2018 Total Comprehensive income attributable to Owners of the company - reported earlier 1534.06 7652.85 Adjustment for Prior year items: Cost of Materials Consumed 4.18 16.24 Employee Benefit expenses 2.66 11.76 Repairs 0.11 0.46 Contractual Expenses 2.94 9.69 Depreciation/Amortisation/Impairment expenses 1.00 4.20 Finance Cost 0.20 1.20 Other Expenses 0.12 0.32 Income Tax (3.92) (15.34) Net Increase(Decrease) in Total Comprehensive income 7.29 28.53 Total Comprehensive income attributable to Owners of the company - now restated 1541.35 7681.38 EPS (Basic & diluted) now restated 2.10 11.34 EPS (Basic & diluted) reported earlier 2.09 11.31 Reconciliation of Other Equity as at 31.03.2018:- Particulars Amount (` in crore) Other Equity as at 31.03.2018 reported earlier (Audited) 13639.16 Adjustment for prior year items: Increase in retained earnings as on 01.04.2017 for incomes/expenses relating to years prior to FY 2017-18 (net of tax) 303.64 Increase in the profits for FY 2017-18 for incomes/expenses relating to FY 2017-18 (Refer above table) 28.53 Other Equity as at 31.03.2018 now restated 13971.33

|61| Chap. 4 – Ind AS 8 — Accounting Policies, Changes in Accounting Estimates and Errors 3. COLGATE PALMOLIVE INDIA LIMITED Standards issued but not yet effective Ind AS 116 Leases Ind AS 116 was issued on March 30, 2019 and it replaces existing standard on leases i.e. Ind AS 17, Leases with effect from accounting periods beginning on or after 1 April 2019. Ind AS 116 sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model similar to the accounting for finance leases under Ind AS 17. The standard includes two recognition exemptions for lessees – leases of ‘low-value’ assets (e.g., personal computers) and short-term leases (i.e., leases with a lease term of 12 months or less). At the commencement date of a lease, a lessee will recognise a liability to make lease payments (i.e., the lease liability) and an asset representing the right to use the underlying asset during the lease term (i.e., the right-of-use asset). Lessees will be required to separately recognise the interest expense on the lease liability and the depreciation expense on the right-of-use asset. Lessees will be also required to remeasure the lease liability upon the occurrence of certain events (e.g., a change in the lease term, a change in future lease payments resulting from a change in an index or rate used to determine those payments). The lessee will generally recognise the amount of the remeasurement of the lease liability as an adjustment to the right-of-use asset. Lessor accounting under Ind AS 116 is substantially unchanged from today’s accounting under Ind AS 17. Lessors will continue to classify all leases using the same classification principle as in Ind AS 17 and distinguish between two types of leases: operating and finance leases. Ind AS 116, which is effective for annual periods beginning on or after 1 April 2019, requires lessees and lessors to make more extensive disclosures than under Ind AS 17. Transition to Ind AS 116 The Company plans to adopt Ind AS 116 with modified retrospective method i.e. no change to prior period financial statements and will apply the standard to contracts or arrangements that were previously identified as leases applying Ind AS 17. The Company elects to use the exemptions proposed by the standard on lease contracts for which the lease terms ends within 12 months as of the date of initial application, and lease contracts for which the underlying asset is of low value. The Company is evaluating the requirements of the new standard and assessing the impact on the financial statements. 4. GILLETTE INDIA LIMITED Standards issued but not yet effective In March 2019, the Ministry of Corporate Affairs (MCA) issued the Companies (Indian Accounting Standards) Amendment Rules, 2019 and Companies (Indian Accounting Standards) Second Amendment Rules, 2019, notifying Ind AS 116 ‘Leases’ and amendments to certain IND AS. The Standard / amendments are applicable to the Company with effect from July 1, 2019. (i) Ind AS 116: Leases The standard changes the recognition, measurement, presentation and disclosure of leases. It requires: — Lessees to record all leases on the balance sheet with exemptions available for low value and short-term leases. — At the commencement of a lease, a lessee will recognise lease liability and an asset representing the right to use the asset during the lease term (right-of-use asset). — Lessees will subsequently reduce the lease liability when paid and recognise depreciation on the right-of-use asset.

|62| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts — A lease liability is remeasured upon the occurrence of certain events such as a change in the lease term or a change in an index or rate used to determine lease payments. The remeasurement normally also adjusts the right-of-use asset. — The standard has no impact on the actual cash flows of a Company. However, operating lease payments currently expensed as operating cash outflows will instead be capitalised and presented as financing cash outflows in the statement of cash flows. The Company has reviewed all relevant contracts to identify leases and preparations for this standard are substantially complete. This review included: • an assessment about whether the contract depends on a specific asset, • whether the company obtains substantially all the economic benefits from the use of that asset; and • whether the Company has the right to direct the use of that asset. (ii) Other Amendments the MCA has notified below amendments which are effective July 1, 2019: • Appendix C to Ind AS 12, Income taxes. • Amendments to Ind AS 109, Financial Instruments. • Amendments to Ind AS 19, Employee Benefits. Based on Preliminary work, the Company does not expect these amendments to have any significant impact on its Financial statements. 5. HINDUSTAN UNILEVER LIMITED EXCEPTIONAL ITEMS (Net) Year ended 31st March, 2019 Year ended 31st March, 2018 i) Profit on disposal of surplus properties — 10 ii) Profit on disposal of joint venture — 46 Total exceptional income (A) — 56 i) Fair valuation of contingent consideration payable on business combination (57) (48) ii) Acquisition and disposal related cost (30) — iii) Restructuring and other costs (140) (70) Total exceptional expenditure (B) (227) (118) Exceptional items (net) (A+B) (227) (62) 6. INDIA MART INTERMESH LIMITED CHANGES IN ACCOUNTING POLICY AND DISCLOSURES New and amended standard The company applied Ind AS 115 for the first time. The nature and effect of the changes as a result of adoption of the new accounting standard is described below. Several other amendments and interpretations apply for the first time which are effective as of April 1, 2018, but do not have an impact on the financial statements of the Company. The Company has not early adopted any standards, interpretations or amendments that have been issued but are not yet effective.

|63| Chap. 4 – Ind AS 8 — Accounting Policies, Changes in Accounting Estimates and Errors Ind AS 115 Revenue from Contacts with customers Ind AS 115 supersedes Ind AS 11 Construction contracts, Ind AS 18 Revenue and it applies, with limited exceptions, to all revenue arising from contracts with customers. Ind AS 115 establishes a five-step model to account for revenue arising from contracts with customers and requires that revenue be recognised at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring good or services to a customer. Ind AS 115 requires entities to exercise judgment, taking into consideration all of the relevant facts and circumstances when applying each step of the model to contracts with their customers. The Standard also specifies the accounting for the incremental costs of obtaining a contract and the costs directly related to fulfilling a contract. In addition, the standard requires extensive disclosures. The Company adopted Ind AS 115 using the modified retrospective method with the date of initial application as of April 1, 2018. Under this method, the standard can be applied either to all contracts at the date of initial application or only to contracts that are not completed at this date. Further, cumulative effect of applying the new standard is recognised at the date of initial application with no restatement of the comparative periods presented. Therefore, the comparative information has not been restated and continues to be reported under Ind AS 18. The Company elected to apply the standard to the contracts that are not completed as at April 1, 2018. Apart from providing more extensive disclosures on the Company’s revenue transactions, the application of Ind AS 115 has not had a material impact on the financial position and/or financial performance of the Company. Amendments to Ind AS 12 Recognition of Deferred Tax Assets for Unrealised Losses. The amendments clarify that an entity needs to consider whether tax laws restrict the sources of taxable profits against which it may make deductions on the reversal of that deductible temporary difference. Furthermore, the amendments provide guidance on how an entity should determine future taxable profits and explain the circumstances in which taxable profit may include the recovery of some assets for more than their carrying amount. These amendments are effective for annual periods beginning on or after April 1, 2018. These amendments do not have any impact on the Company. Amendments to Ind 112 Disclosure of Interests in Other Entities: Clarification of the scope of disclosure requirements in Ind AS 112 The amendments clarify that the disclosure requirements in Ind AS 112, other than those in paragraphs B10–B16, apply to an entity’s interest in a subsidiary, a joint venture or an associate (or a portion of its interest in a joint venture or an associate) that is classified (or included in a disposal group that is classified) as held for sale. These amendments are effective for annual periods beginning on or after April 1, 2018 on a retrospective basis. Since, the Company has not classified its interest in subsidiaries as held for sale therefore, the amendment is not applicable to the Company. Transfers of Investment Property — Amendments to Ind AS 40 The amendments clarify when an entity should transfer property, including property under construction or development into, or out of investment property. The amendments are effective for annual periods beginning on or after April 1, 2018 on a prospective basis. The Company does not have any investment property. Therefore, the amendment is not applicable to the Company. Ind AS 28 Investments in Associates and Joint Ventures – Clarification that measuring investees at fair value through profit or loss is an investment-by investment choice The amendments clarify that

|64| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts • An entity that is a venture capital organisation, or other qualifying entity, may elect, at initial recognition on an investment-by-investment basis, to measure its investments in associates and joint ventures at fair value through profit or loss. • If an entity, that is not itself an investment entity, has an interest in an associate or joint venture that is an investment entity, the entity may, when applying the equity method, elect to retain the fair value measurement applied by that investment entity associate or joint venture to the investment entity associate’s or joint venture’s interests in subsidiaries. This election is made separately for each investment entity associate or joint venture, at the later of the date on which: (a) the investment entity associate or joint venture is initially recognised; (b) the associate or joint venture becomes an investment entity; and (c) the investment entity associate or joint venture first becomes a parent. The amendments are effective from April 1, 2018 and should be applied on retrospective basis. Since the Company does not have any investment in associates and joint ventures therefore, these amendments are not applicable to the Company. Appendix B to Ind AS 21 Foreign Currency Transactions and Advance Consideration The Appendix clarifies that, in determining the spot exchange rate to use on initial recognition of the related asset, expense or income (or part of it) on the derecognition of a non-monetary asset or non-monetary liability relating to advance consideration, the date of the transaction is the date on which an entity initially recognises the non-monetary asset or non-monetary liability arising from the advance consideration. If there are multiple payments or receipts in advance, then the entity must determine the transaction date for each payment or receipt of advance consideration. The Appendix is effective for annual periods beginning on or after April 1, 2018 on a retrospective basis. However, since the Company’s current practice is in line with the Interpretation, these do not have any effect on Company’s financial statements. Recently issued accounting pronouncements IND AS 116 Leases The Ministry of Corporate Affairs on March 30, 2019 notified the new leasing standard, viz., Ind AS 116 Leases. Ind AS 116 is applicable for the financial year beginning on or after April 1, 2019 for companies preparing there financial statements in accordance with the Indian Accounting Standards notified under the Companies (Indian Accounting Standards) Rules, 2015. The new standard will require lessees to recognize most leases on their balance sheets. Lessees will use a single accounting model for all leases, with limited exemptions. An entity has an option to adopt Ind AS 116 using either the full retrospective method or the modified retrospective method. An entity that elects the modified retrospective method would apply Ind AS 116 retrospectively to only the current period by recognising the cumulative effect of initially applying Ind AS 116 as an adjustment to the opening balance of retained earnings (or other components of equity) at the date of initial application. Under the modified retrospective method, Ind AS 116 would be applied either to all contracts at the date of initial application or only to contracts that are not completed at this date. An entity would need to disclose how it applied the modified retrospective method. The Company is under process to evaluate the impacts of the new standard on financial statements. 7. INDIAN RAILWAY CATERING AND TOURISM CORPORATION LIMITED NOTE :- 54 PRIOR PERIOD ITEMS 54.1 Prior Period Transactions are as follows: Amount (` in Lakh) Nature 2018-19 Income from License Fee 657.21 Income from License Fee-Food Plaza (39.79)

|65| Chap. 4 – Ind AS 8 — Accounting Policies, Changes in Accounting Estimates and Errors Amount (` in Lakh) Nature 2018-19 Scrap Sale Rail Neer (21.21) Income from Duty credit licence under "Served from India Scheme" (240.44) Income from Advertisement/SBI CO-Branded Cards & Loyalty Cards 6.81 Travel and Tour Revenue (418.74) Income from sale of Rail Neer 114.48 Business Development/Marketing Exp. (28.37) Travel & Tour Expenses (11.00) Expenses of Catering Services (277.38) Expenses of Tourism (49.20) Travel & Tour revenue 73.53 Total (234.09) 54.2 Correction of Prior Period transactions with impact on profit. 54.2.1 Impact on Balance Sheet Items is as follows: Amount (` in Lakh) Line Items Impact on 2017-18 Prior to st 1 April 2017 Total Current Trade Receivable 298.76 73.53 372.29 Other Current Asset Duty Credit License (240.44) (240.44) Total Assets 58.32 73.53 131.85 Current Trade Payable 39.37 39.37 Other Financial Liabilities 308.69 17.89 326.58 Total Liability 308.69 57.26 365.95 Net Assets (Equity) -250.37 16.27 (234.09) 54.2.2 Impact on Statement of Profit and Loss Amount (` in Lakh) Nature 2017-18 Income from License Fee 657.21 Income from License Fee-Food Plaza (39.79) Scrap Sale Rail Neer (21.21) Income from Duty credit licence under "Served from India Scheme" (240.44) Income from Advertisement/SBI CO-Branded Cards & Loyalty Cards 6.81 Travel and Tour Revenue (418.74) Income from sale of Rail Neer 114.48 Total Revenue 58.32 Expenses of Tourism 45.23 Expenses of Catering Services 263.46 Total Expenses 308.69 Profit before Tax (250.37)

|66| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 54.2.3 Impact of Prior Period Errors in Earning Per Share (Basic & Diluted): AMOUNT (` in Lakh) Year 2018-19 2017-18 Impact on Profit attributable to Equity Share Holders (Rs. in Lakhs) 234.09 (250.37) Weighted average nos. of Equity Shares (In Lakhs) 1,600.00 1,600.00 Impact on Earnings Per Share (Basic & Diluted) 0.15 -0.16 8. LARSEN & TOUBRO LIMITED IND AS 8 – Accounting Policies, Change in Accounting Estimates & Errors NOTE [65] The financial services business of the Group has changed its accounting policy in respect of provision for expected credit loss to adopt more prudent norms for determining stage 3 (credit impaired) assets and its classification of loans into at amortised cost or at fair value through profit or loss (FVTPL) or at fair value through other comprehensive income (FVTOCI). Accordingly, the Balance Sheet as at April 1, 2017 has been restated. The impact of the change amounting to ` 753.49 crore (net of tax) has been debited to the opening retained earnings as on April 1, 2017 as below. The impact on the financial results for 2017-18 is not material. ` crore Particulars As at April 1, 2017 As at March 31, 2017 Impact of change Remarks Assets Loan towards financing activities 70261.24 72061.24 (1800.00) Additional provision as per expected credit loss (ECL) method on change in accounting policy Deferred tax assets (net) 2359.10 1736.15 622.94 Deferred tax assets on additional ECL provision Total (1177.06) Equity and Liabilities Other equity 49276.44 50029.93 (753.49) Net impact on retained earnings (Group share) Non-controlling interests 3140.03 3563.60 (423.57) Share of Noncontrolling interests on additional ECL provision (net of tax) Total (1177.06) 9. TVS MOTOR COMPANY LIMITED Use of estimates The preparation of financial statements requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and notes thereto. The management believes that these estimates and assumptions are reasonable and prudent. However, actual results could differ from these estimates. Any revision to accounting estimates is recognised prospectively in the current and future period. This note provides an overview of the areas that involved a higher degree of judgment or complexity, and of items which are more likely to be materially adjusted due to estimates and assumptions turning out to be different than those originally assessed. Detailed information about each of these estimates and judgments

|67| Chap. 4 – Ind AS 8 — Accounting Policies, Changes in Accounting Estimates and Errors is included in the relevant notes together with information about the basis of calculation for each affected line item in the financial statements. Significant Estimates and judgments The areas involving critical estimates or judgments are: i) Estimation of fair value of unlisted securities ii) Defined benefit obligation iii) Estimation of useful life of Property, Plant and Equipment iv) Estimation and evaluation of provisions and contingencies relating to tax litigations v) Estimation of impairment of goodwill. 10. VEDANTA LIMITED (B) Reclassification/ Restatement (i) The Group has revised the presentation of forward premium relating to derivative instruments to present it along with the mark-to-market gain/loss on these instruments, as these more appropriately reflect the substance of the forward premiums on derivative transactions. As a result of the change, forward premium expense amounting to ` 671 Crore (for the year ended March 31, 2019: ` 341 Crore) has been reclassified from ‘Finance cost’ to ‘other income/ other expenses’ for the comparative year ended March 31, 2018. Similarly, net cash flows from operating activities in the consolidated statement of cash flows has reduced by an equivalent amount with corresponding effect on the net cash used in financing activities. (ii) The classification of export incentives from government has also been revised to present it under ‘other operating income’, as the revised classification is more appropriate. As a result of the change, export incentives amounting to ` 418 Crore has been reclassified from ‘revenue’ to ‘other operating income’ for the comparative year ended March 31, 2018. Similarly, scrap sales and miscellaneous income amounting to ` 177 Crore and ` 217 Crore respectively have also been reclassified from ‘revenue’ to ‘other operating income’ for the comparative year ended March 31, 2018. (iii) In the comparative period, the Group acquired equity stake in AvanStrate Inc. (ASI). As permitted by Ind AS 103, the Group had used provisional fair values that were determined as at March 31, 2018 for consolidation. In the current year, these fair values were finalised. Hence, the comparative year amounts have been restated accordingly. Please refer note 4(b) for further details. None of the above had any effect on the equity as at April 01, 2017. 3(b) APPLICATION OF NEW AND REVISED STANDARDS (A) The Group has adopted with effect from April 1, 2018, the following new standards and amendments: • Ind AS 115: Revenue from contracts with customers The Group has adopted Ind AS 115 Revenue from Contracts with customers with effect from April 1, 2018 which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The standard replaces most of the current revenue recognition guidance. The core principle of the new standard is for companies to recognize revenue when the control of the goods and services is transferred to the customer as against the transfer of risk and rewards. As per the Group’s current revenue recognition practices, transfer of control happens at the same point as transfer of risk and rewards thus not effecting the revenue recognition. The amount of revenue recognised reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. Under this standard, services provided post transfer of control of goods are treated as separate performance obligation and requires proportionate revenue to be deferred along with associated costs and to be recognized over the period of service. The Group provides shipping and insurances services after the date of transfer

|68| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts of control of goods and therefore has identified it as a separate performance obligation. As per the result of evaluation of contracts of the relevant revenue streams, it is concluded that the impact of this change is immaterial to the Group and hence no accounting changes have been done. The Group has products which are provisionally priced at the date revenue is recognised. Revenue in respect of such contracts are recognised when control passes to the customer and is measured at the amount the Group expects to be entitled – being the estimate of the price expected to be received at the end of the measurement period. Post transfer of control of goods, subsequent movements in provisional pricing are accounted for in accordance with Ind AS 109 “Financial Instruments” rather than Ind AS 115 and therefore the Ind AS 115 rules on variable consideration do not apply. These ‘provisional pricing’ adjustments i.e. the consideration received post transfer of control has been included in total revenue from operations on the face of the consolidated statement of profit and loss. The accounting for revenue under Ind AS 115 does not, therefore, represent a substantive change from the Group’s previous practice for recognising revenue from sales to customers. Further, export incentives received from Government that were included within ‘other operating revenue’ are now included within ‘other operating income’. The Group has adopted the modified transitional approach as permitted by the standard under which the comparative financial information is not restated. The accounting changes required by the standard are not having material effect on the recognition or measurement of revenues and no transitional adjustment is recognised in retained earnings at April 1, 2018. Additional disclosures as required by Ind AS 115 have been included in these financial statements. Previous period accounting policy: Revenue Recognition Revenues are measured at the fair value of the consideration received or receivable, net of discounts, volume rebates, outgoing sales taxes/ goods & service tax and other indirect taxes excluding excise duty. Excise duty is a liability of the manufacturer which forms part of the cost of production, irrespective of whether the goods are sold or not. Since the recovery of excise duty flows to the Group on its own account, revenue includes excise duty. Sale of goods/rendering of services Revenues from sales of goods are recognised when all significant risks and rewards of ownership of the goods sold are transferred to the customer which usually is on delivery of the goods to the shipping agent. Revenues from sale of by-products are included in revenue. Certain of the Group’s sales contracts provide for provisional pricing based on the price on The London Metal Exchange (“LME”) and crude index, as specified in the contract, when shipped. Final settlement of the price is based on the applicable price for a specified future period. The Group’s provisionally priced sales are marked to market using the relevant forward prices for the future period specified in the contract and is adjusted in revenue. Revenue from oil, gas and condensate sales represents the Group’s share of oil, gas and condensate production, recognized on a direct entitlement basis, when significant risks and rewards of ownership are transferred to the buyers. Direct entitlement basis represents entitlement to variable physical volumes of hydrocarbons, representing recovery of the costs incurred and a stipulated share of the production remaining after such cost recovery. The stipulated share of production is arrived after reducing government’s share of profit petroleum which is accounted for when the obligation in respect of the same arises. Revenue from sale of power is recognised when delivered and measured based on rates as per bilateral contractual agreements with buyers and at rates arrived at based on the principles laid down under the relevant Tariff Regulations as notified by the regulatory bodies, as applicable. • Amendment to Ind AS 23: Borrowing Cost The amendment clarifies that an entity considers any borrowings made specifically for the purpose of obtaining a qualifying asset as part of the general borrowings, when substantially all of the activities necessary to prepare that asset for its intended use or sale are complete. The amendment is applicable

|69| Chap. 4 – Ind AS 8 — Accounting Policies, Changes in Accounting Estimates and Errors to borrowing costs incurred on or after the beginning of the annual reporting period in which the entity first applies those amendments. The amendment is effective from April 1, 2019. Since this amendment is clarificatory in nature, the Group has applied the amendment prospectively from the current reporting year i.e. for the borrowing costs incurred on or after April 01, 2018. Based on the Amendment, the Group has now capitalized certain borrowing costs on general borrowings. This has resulted in capitalization of interest expense of ` 545 Crore for the year ended March 31, 2019 and a corresponding increase in depreciation of ` 3 Crore. The consequent incremental impact on profit for the year net of tax was ` 369 Crore and on the basic and diluted earnings per share was ` 1.00/ share and ` 0.99/ share respectively. The change did not have any significant impact on the Group’s consolidated balance sheet and the consolidated statement of cash flows. (B) Standards issued but not yet effective The following standards/ amendments to standards have been issued but are not yet effective up to the date of issuance of the Group’s Financial Statements. Except specifically disclosed below, the Group is evaluating the requirements of these standards, improvements and amendments and has not yet determined the impact on the financial statements. I. Ind AS 116 – Lease Ind AS 116, Leases, replaces the existing standard on accounting for leases, Ind AS 17, with effect from April 1, 2019. This standard introduces a single lessee accounting model and requires a lessee to recognize a ‘right of use asset’ (ROU) and a corresponding ‘lease liability’ for all leases. Lease costs will be recognised in the consolidated statement of profit and loss over the lease term in the form of depreciation on the ROU asset and finance charges representing the unwinding of the discount on the lease liability. In contrast, the accounting requirements for lessors remain largely unchanged. The Group acts as a lessee in lease arrangements mainly involving office premises and other properties. The Group has elected to apply the modified retrospective approach on transition, and accordingly the comparative figures will not be restated. For contracts in place at this date, the Group will continue to apply its existing definition of leases under current accounting standards (“grandfathering”), instead of reassessing whether existing contracts are or contain a lease at the date of application of the new standard. Further, as permitted by Ind AS 116, the Group will not bring leases of low value assets or short-term leases with 12 or fewer months remaining on to consolidated balance sheet. Transition to Ind AS 116 does not have a material effect on the Group’s Financial Statements. II. Amendments to standards The following amendments are applicable to the Group from April 01, 2019. The impacts of these are currently expected to be immaterial: Reference Name / Brief Annual Improvements to Ind AS (2018) The amendments comprise of changes in Ind AS 103, Ind AS 111 and Ind AS 12 Ind AS 19 Employee benefits - Plan Amendment, Curtailment or Settlement Ind AS 28 Investments in Associates and Joint Ventures - Long-term Interests in Associates and Joint Ventures Ind AS 109 Financial Instruments - Prepayment Features with Negative Compensation Ind AS 12 Income Taxes - Uncertainty over Income Tax Treatments ll

|70| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Chapter 5 Ind AS 10 — Events after the Reporting Period 1. ACC LIMITED Disclosures Note 53. Dividend distribution and proposed dividend Particulars For the year ended December 31, 2018 For the year ended December 31, 2017 ` Crore ` Crore Cash dividends on equity shares declared and paid: Final dividend for the year ended December 31, 2017: ` 15 per share (Previous year - ` 6 per share for 2016) 281.68 112.67 Dividend distribution tax on final dividend* 57.90 22.94 Interim equity dividend ` Nil per share (Previous year - ` 11 per share) — 206.57 Dividend distribution tax on interim dividend — 42.05 339.58 384.23 Proposed dividends on equity shares: Final cash dividend for the year ended December 31, 2018: ` 14 per share (Previous year - ` 15 per share) 262.90 281.68 Dividend distribution tax on proposed dividend * 54.04 57.34 316.94 339.02 * Dividend distribution tax on proposed dividend for Previous year has been changed due to change in Dividend distribution tax rate w.e.f. April 1, 2018. Proposed dividends on equity shares are subject to approval at the annual general meeting and are not recognised as a liability (including Dividend Distribution Tax thereon) as at December 31. 2. HEIDELBERG CEMENT INDIA LTD. Accounting Policies r) Dividend Distributions The Company recognizes a liability to make payment of dividend to owners of equity when the distribution is authorized and is no longer at the discretion of the Company and is declared by the shareholders. A corresponding amount is recognised directly in equity.

|71| Chap. 5 – Ind AS 10 — Events after the Reporting Period Disclosure Dividend Paid and Proposed (Rs. in million) Particulars 31 March 2019 31 March 2018 Dividend declared and paid during the year: Final Dividend for the year ended on 31 March 2018: ` 2.50 per share (31 March 2017: ` 2.00 per share) 566.5 453.2 Dividend Distribution Tax (DDT)on Final Dividend 116.5 92.3 683.0 545.5 Proposed Dividends on equity shares: Proposed dividend for the year ended on 31 March 2019 ` 3 per share (31 March 2018: ` 2.50 per share) 679.8 566.5 Dividend Distribution Tax (DDT) on proposed dividend 139.7 116.5 819.5 683.0 Dividends would attract dividend distribution tax when declared or paid. Proposed dividends on equity shares are subject to approval at the Annual General Meeting and are not recognised as a liability (including DDT thereon) as at 31 March 2019. 3. INFO EDGE (INDIA) LIMITED Accounting Policy Disclosure b) Dividend Amount (`Mn) Particulars March 31, 2019 March 31, 2018 (i) Interim dividends : 1st interim dividend : ` 2.5 per share (March 31, 2018 ` 2.5 per share) 305.29 303.79 2nd interim dividend : ` 1.5 per share (March 31, 2018 ` 1.5 per share) 183.17 182.35 (ii) Dividends not recognised at the end of the reporting period 244.23 182.65 In addition to the above dividends, since year end the directors have recommended the payment of a final dividend of ` 2 per fully paid equity share (March 31, 2018 - ` 1.50). This proposed dividend is subject to the approval of shareholders in the ensuing annual general meeting. 4. MAHINDRA LIFESPACE DEVELOPERS LIMITED Additional Information to the consolidated Financial Statements Dividend In respect of the current year, the directors proposed dividend of ` 6 per share be paid on equity shares on 22nd April, 2019. This equity dividend is subject to approval by shareholders at the Annual General Meeting and has not been included as a liability in these financial statements. The proposed equity dividend is payable to those shareholders whose names appear on Register of Members as on the book closure date. The total estimated equity dividend to be paid is ` 3,080.95 lakhs. The payment of this dividend is estimated to result in payment of dividend distribution tax of ` 633.41 lakhs @ 20.56% on the amount of dividends grossed up for the related dividend distribution tax.

|72| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 48 - Prior Period Items No material events have occurred after the balance sheet date and upto the approval of the financial statements. 5. PC JEWELLER LIMITED Post reporting date events On 11 May 2019, the Board of Directors of the Parent Company approved the scheme of arrangement for demerger of ‘Export Division’ and subsequent amalgamation of the same with the newly incorporated wholly owned subsidiary company of the Parent Company, namely PCJ Gems & Jewellery Limited under Section 230-232 of the Companies Act, 2013, with effect from the appointed date i.e. 1 April 2019. The aforementioned scheme shall be effective subject to necessary statutory/ regulatory and other approvals to be obtained by both the aforementioned entities. 6. SHOPPERS STOP LIMITED Events after the reporting period The Board of Directors has recommended dividend of ` 0.75 per share for the financial year 2018-19. The payment is subject to the approval of shareholders at the annual general meeting. The Group has evaluated subsequent events from the balance sheet date through 30 April 2019, the date at which the financial statement were available to be issued, and determine that there are no material items to disclose other than those disclosed above. 7. TATA CONSULTANCY SERVICES LIMITED 37) Subsequent events Dividends paid during the year ended March 31, 2019 include an amount of ` 29 per equity share towards final dividend for the year ended March 31, 2018 and an amount of ` 12 per equity share towards interim dividends for the year ending March 31, 2019. Dividends paid during the year ended March 31, 2018 include an amount of ` 27.50 per equity share towards final dividend for the year ended March 31, 2017 and an amount of ` 21 per equity share towards interim dividends for the year ending March 31, 2018. Dividends declared by the Company are based on profits available for distribution. Distribution of dividends out of general reserve and retained earnings is subject to applicable dividend distribution tax. On April 12, 2019, the Board of Directors of the Company have proposed a final dividend of ` 18 per share in respect of the year ending March 31, 2019 subject to the approval of shareholders at the Annual General Meeting. The proposal is subject to the approval of shareholders at the Annual General Meeting, and if approved, would result in a cash outflow of approximately ` 8,142 crore, inclusive of corporate dividend tax of ` 1,388 crore. 8. VODAFONE IDEA LIMITED Accounting Policies These consolidated financial statements for the year ended March 31, 2019 were approved by the Board of Directors and authorised for issue on May 13, 2019. 67 SUBSEQUENT EVENT The board of directors of the Company, in its meeting held on January 23, 2019, had approved a Rights Issue of ` 250,000 Mn. Subsequent to the year end on May 4, 2019, the Company has allotted 19,999,830,911 Equity Shares of face value of ` 10 each to the eligible existing equity shareholders under a Rights Issue at a price of ` 12.50 (including a premium of ` 2.50) per equity share aggregating to ` 249,998 Mn.

|73| Chap. 5 – Ind AS 10 — Events after the Reporting Period 9. WELSPUN INDIA LIMITED Note 39: Events occurring after the reporting date (a) The Hon’ble National Company Law Tribunal, Ahmedabad Bench vide it’s order pronounced on May 10, 2019 (the “Order”) sanctioned the Scheme of Amalgamation of Prasert Multiventure Private Limited (“PMPL”) with Welspun India Limited (“WIL”). The amalgamation of PMPL with WIL is merely a combination of entities and not a “business combination” and hence the amalgamation will be accounted for, effective from the date of filing of the Order with MCA. (b) Refer Note 27(b) for the final dividend recommended by the board of directors which is subject to the approval of shareholders in the ensuing annual general meeting. Note 27 (b) (b) Dividend March 31, 2019 March 31, 2018 Equity Share Final dividend for the year ended March 31, 2018 of ` 0.65 (March 31, 2017 of ` 0.65) per fully paid share (Dividend distribution tax for the year ended March 31, 2018 : ` 134.27 million, March 31, 2017 : ` 132.97 million) 653.07 653.07 Dividend not recognised at the end of the reporting period In addition to the above dividends, since year end the directors have recommended the payment of a final dividend of ` 0.30 per fully paid equity share (March 31, 2018 of ` 0.65). This proposed dividend is subject to the approval of shareholders in the ensuing annual general meeting. 301.42 653.07 10. WIPRO LIMITED 41. Events after the reporting period On April 16, 2019, the Board of Directors approved a proposal to buy back up to 323,076,923 equity shares of the Company for an aggregate amount not exceeding ` 105,000 million, being 5.35% of total paid-up equity share capital as at March 31, 2019, at a price of ` 325 per equity share. Subsequently, vide resolution dated June 1, 2019 the shareholders approved the buyback of equity shares through postal ballot/evoting. The Company will file the draft letter of offer with the Securities and Exchange Board of India in due course for its approval and will open the buyback offer for tendering of shares by the shareholders, following approval from the Securities and Exchange Board of India. The buyback is proposed to be made from all existing shareholders of the Company as on the record date for the buyback, i.e., June 21, 2019, on a proportionate basis under the “tender offer” route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 and the Companies Act, 2013 and rules made thereunder. On June 4, 2019, the Company entered into a definitive agreement to acquire International TechneGroup Incorporated, a global digital engineering and manufacturing solutions company for a consideration of US$ 45 million. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in the quarter ending September 30, 2019. ll

|74| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Chapter 6 Ind AS 12 — Income Taxes 1. ACC LIMITED Accounting Policies (xxii) Taxation Tax expense comprises current tax and deferred income tax and includes any adjustments related to past periods in current and / or deferred tax adjustments that may become necessary due to certain developments or reviews during the relevant period. Current income tax Current income tax is measured at the amount expected to be paid to or recovered from the tax authorities in accordance with the Income Tax Act, 1961 including the relevant Transfer Pricing regulations prescribed thereunder, read with applicable judicial precedents or interpretations, wherever relevant. Current income tax relating to items is recognised outside the Consolidated Statement of Profit and Loss is recognised in correlation to the underlying transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle the asset and the liability on a net basis. Deferred tax Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognised for all taxable temporary differences, except: • When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss, and • In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognised only to the extent that it is probable that sufficient future taxable income will be available against which such deferred tax assets can be realised, except: • When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss • In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred tax assets are recognised only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised. The carrying amount of deferred tax assets are reviewed at each Balance Sheet date. The Group writes down the carrying amount of a deferred tax asset to the extent that it is no longer probable that sufficient future taxable income will be available against which deferred tax asset can be realised. Any such write

|75| Chap. 6 – Ind AS 12 — Income Taxes down is reversed to the extent that it becomes reasonably certain that sufficient future taxable income will be available. Deferred tax assets and liabilities are measured based on the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognised outside Consolidated Statement of Profit and Loss is recognised outside Consolidated Statement of Profit and Loss (either in other comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to income tax levied by the same taxation authority. Minimum alternate tax Deferred tax assets include Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future economic benefits in the form of adjustment to future income tax liability and is considered as an asset if it is probable that future taxable profit will be available against which these tax credits can be utilized. Accordingly, MAT is recognised as deferred tax asset in the Balance Sheet when it is highly probable that future economic benefit associated with it will flow to the Group. MAT credit is reviewed at each Balance Sheet date and written down to the extent the aforesaid convincing evidence no longer exists. Disclosures Note 21. Income tax Refer Note 1 (xxii) for accounting policy on Taxation Reconciliation of tax expense and the accounting profit multiplied by India’s domestic tax rate for December 31, 2018: Particulars Year ended December 31, 2018 Year ended December 31, 2017 ` Crore In % ` Crore In % Profit before share of profit of associates and joint ventures and tax 1,499.79 1,299.14 At India's statutory income tax rate 524.03 34.94% 449.63 34.61% Effect of Allowances for tax purpose Investment allowance on new plant and Machinery under section 32AC (Refer Note 1 below) - - (33.29) (2.56%) Tax Holiday claim under section 80-IA (52.29) (3.49%) (54.92) (4.23%) Effect of Non-Deductible expenses Corporate social responsibility expenses 7.13 0.48% 7.55 0.58% Others (including effect of change in tax rate) 11.63 0.78% 18.23 1.41% Effect of Tax Exempt Income - Dividend (0.38) (0.03%) (1.65) (0.13%) (33.91) (2.26%) (64.08) (4.92%) At the effective income tax rate 490.12 32.68% 385.55 29.68% Tax adjustments for earlier years (Refer Note 2 below) (500.63) (33.38%) - - Income tax expense reported in the Consolidated Statement of Profit and Loss (10.51) (0.70%) 385.55 29.68% The tax rate used for reconciliation above is the corporate tax rate payable by corporate entities in India on taxable profits under Indian tax law.