|720| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars L&T-MHPS Boilers Private Limited L&T Special Steels and Heavy Forgings Private Limited L&T Infrastructure Development Projects Limited (consolidated) 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 Other comprehensive income (net of NCI) 8.02 14.31 (0.02) 1.21 24.71 (0.67) Total comprehensive income (net of NCI) 287.98 255.78 (213.91) (269.09) 613.41 (404.85) (d) Financial Information in respect of individually not material joint venture/associate ` crore Particulars As at 31-3-2019 As at 31-3-2018 Aggregate carrying amount of investment in individually not material joint venture/associate 630.32 565.98 Aggregate amounts of the Group’s share of: Profit/(loss) for the year 66.11 77.20 Other comprehensive income for the year (17.80) 11.53 Total comprehensive income for the year 48.31 88.73 (e) Carrying amount of investments in joint ventures/associates ` crore Particulars As at 31-3-2019 As at 31-3-2018 Non-material associates 88.52 71.10 Non-material joint ventures 541.80 494.87 Sub-total 630.32 565.97 Material joint ventures 2011.97 1915.62 Total 2642.29 2481.59 (f) Share in profit /(loss) of joint ventures/associates (net) ` crore Particulars 2018-19 2017-18 Non-material associates 17.72 18.67 Non-material joint ventures 48.39 58.53 Sub-total 66.11 77.20 Material joint ventures (87.11) (513.06) Total (21.00) (435.86) ll
|721| Chap. 30 – Ind AS 112 – Interest in other entities Chapter 30 Ind AS 112 – Interest in other entities 1. BHARAT PETROLEUM CORPORATION LIMITED a) Notes to Accounts NOTE 7 INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD (CONSOLIDATED) Information of interest of the Corporation in its equity accounted investees: ` in Crores Particulars Note reference 31/03/2019 31/03/2018 Interest in Associates See Note (A) below 2,810.93 2,609.55 Interest in Joint Ventures See Note (B) below 15,277.81 14,984.53 Investment accounted for using equity method 18,088.74 17,594.08 [A] Interest in Associates (I) List of material Associates of the Company S. No. Name Proportion of Ownership Interest Country of Incorporation 31/03/2019 31/03/2018 1. Indraprastha Gas Limited (Refer Note (i)) India 22.50% 22.50% 2. Petronet LNG Limited (Refer Note (ii)) India 12.50% 12.50% Note (i) Indraprastha Gas Limited (IGL) was set up in December, 1998 for implementing the project for supply of Compressed Natural Gas (CNG) to the household and automobile sectors in Delhi. The paid up share capital of the Company is ` 140 Crores (Previous year ` 140 Crores). BPCL invested ` 31.50 Crores in IGL for 22.5% stake in its equity. IGL is a listed Company with the public holding 55% of the paid up share capital of the Company. Note (ii) Petronet LNG Limited (PLL) was formed in April, 1998 for importing LNG and setting up LNG terminals with facilities like jetty, storage, regasification etc. to supply Natural Gas to various industries in the country. The paid up capital of the company is ` 1,500 Crores (Previous year ` 1,500 Crores). PLL was promoted by four public sector companies viz. BPCL, Indian Oil Corporation Limited (IOC), Oil and Natural Gas Limited (ONGC) and GAIL (India) Limited (GAIL). Each of the promoters holds 12.5% of the equity capital of PLL. PLL is a listed Company. BPCL’s equity investment in PLL currently stands at ` 98.75 Crores. Fair Value of material listed Associates ` in Crores S. No. Name 31/03/2019 31/03/2018 1. Indraprastha Gas Limited 4,795.89 4,391.90 2. Petronet LNG Limited 4,696.88 4,336.87 In respect of Petronet LNG Limited, the same has been classified as an associate, as the Corporation has the right to nominate a director on the Board of Directors of the company and this right allows the Corporation to participate in financial and operating policies.
|722| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts The following table comprises the financial information of the Corporation’s material Associates (in which corporation is having significant value of investments) and their respective carrying amount. ` in Crores 31/03/2019 Indraprastha Gas Limited Petronet LNG Limited Summarised financial information Non Current Assets 3,940.91 9,287.54 Current Assets (excluding cash and cash equivalent) 2,163.25 5,735.22 Cash and cash equivalent 71.15 226.58 Non Current liabilities (excluding trade and other payables and provisions) 316.43 2,523.32 Trade and other payables and provisions (Non-Current) 19.55 11.08 Current liabilities (excluding trade and other payables and provisions) 1,046.99 1,172.37 Trade and other payables and provisions (Current) 486.30 1,311.99 Net Assets 4,306.04 10,230.58 Group's share of net assets 968.86 1,278.82 Carrying amount of interest in Associate 968.86 1,278.82 Revenue (including Interest Income) 6,482.22 38,841.22 Depreciation and Amortisation 201.07 411.24 Other Expense 5,101.56 35,101.98 Finance Cost 2.27 98.92 Share of Profit of Equity accounted investees (JV), net of tax 91.59 79.63 Profit before tax 1,268.91 3,308.71 Tax Expense 431.84 1,078.15 Profit after tax 837.07 2,230.56 Other Comprehensive Income (0.94) (2.03) Total Comprehensive Income 836.13 2,228.53 Group's share of profit 188.34 278.82 Group's share of OCI (0.21) (0.25) Group's share of total comprehensive Income 188.13 278.57 Dividend received from the Associate 31.50 187.50 ` in Crores 31/03/2018 Indraprastha Gas Limited Petronet LNG Limited Summarised Financial information Non Current Assets 3,313.88 8,726.75 Current Assets (excluding cash and cash equivalent) 1,578.91 6,313.48 Cash and cash equivalent 203.68 704.30 Non Current liabilities (excluding trade and other payables and provisions) 260.38 3,065.21 Trade and other payables and provisions (Non-Current) 12.83 7.81
|723| Chap. 30 – Ind AS 112 – Interest in other entities 31/03/2018 Indraprastha Gas Limited Petronet LNG Limited Current liabilities (excluding trade and other payables and provisions) 836.82 1,278.22 Trade and other payables and provisions (Current) 339.49 1,582.00 Net Assets 3,646.95 9,811.29 Group's share of net assets 820.56 1,226.41 Carrying amount of interest in Associate 820.56 1,226.41 Revenue (including Interest Income) 5,105.47 30,916.02 Depreciation and Amortisation 181.29 411.65 Other Expense 3,898.44 27,286.27 Finance Cost 1.69 162.99 Share of Profit of Equity accounted investees (JV), net of tax 71.89 32.59 Profit before tax 1,095.94 3,087.70 Tax Expense 374.22 977.26 Profit after tax 721.72 2,110.44 Other Comprehensive Income (0.28) 0.52 Total Comprehensive Income 721.44 2,110.96 Group's share of profit 162.38 263.80 Group's share of OCI (0.06) 0.07 Group's share of total comprehensive Income 162.32 263.87 Dividend received from the Associate 15.75 46.88 (II) Details of all individually immaterial Associates ` in Crores Particulars 31/03/2019 31/03/2018 Aggregate carrying amount of its interest in Associates 563.25 562.58 Share of Total Comprehensive Income from Associates (57.41) (66.93) [B] Interest in Joint Ventures (I) List of material Joint Ventures of the Group S. No. Name Proportion of Ownership Interest Country of Incorporation 31/03/2019 31/03/2018 1 Bharat Oman Refineries Limited (Refer Note (i)) India 50.00% 50.00% Note (i) Bharat Oman Refineries Limited is a Joint Venture Company of BPCL with Oman Oil Company S.A.O.C. (OOC). BPCL and OOC have an equity stake of 50% each in BORL’s paid up share capital of ` 1,777.23 Crores as on 31st March 2019 (Previous year ` 1,777.23 Crores). BPCL has also subscribed to Share Warrants of BORL of ` 1,585.68 Crores and invested in Compulsory Convertible Debentures of ` 1000 Crores. The following table comprises the financial information of the Corporation’s material Joint Venture (in which corporation is having significant value of investments) and their respective carrying amount.
|724| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts ` in Crores Bharat Oman Refineries Limited 31/03/2019 31/03/2018 Summarised financial information Non Current Assets 12,139.68 11,653.02 Current Assets (excluding cash and cash equivalent) 6,399.72 4,660.74 Cash and cash equivalent 1.30 1.28 Non Current liabilities (excluding trade and other payables and provisions) 8,715.63 8,028.51 Trade and other payables and provisions (Non-Current) 11.64 10.46 Current liabilities (excluding trade and other payables and provisions) 2,686.63 1,857.73 Trade and other payables and provisions (Current) 2,701.99 2,100.32 Net Assets 4,424.81 4,318.02 Group's share of net assets 2,212.41 2,159.01 Adjustments Investment in Share Warrants 779.39 779.39 Investment in Compulsorily Convertible Debentures 500.00 500.00 Inter-company profit eliminations (148.08) (156.80) Carrying amount of interest in Joint Ventures 3,343.72 3,281.60 Revenue (excluding interest income) 31,641.05 31,332.28 Interest Income 2.65 20.77 Depreciation and Amortisation 619.98 530.96 Finance Cost 653.68 617.61 Other Expense 30,199.75 28,685.94 Profit before tax 170.29 1,518.54 Tax Expense 63.58 534.83 Profit after Tax 106.71 983.71 Other Comprehensive Income 0.08 (0.03) Total Comprehensive Income 106.79 983.68 Group's share of profit 53.36 491.86 Group's share of OCI 0.04 (0.02) Group's share of total comprehensive Income 53.40 491.84 Dividend received from the Joint Venture - - (II) Details of all individually immaterial Joint Ventures ` in Crores Particulars 31/03/2019 31/03/2018 Aggregate carrying amount of its interest in Joint Ventures 11,934.09 11,689.48 Share of Total Comprehensive Income from Joint Ventures (801.70) 922.24
|725| Chap. 30 – Ind AS 112 – Interest in other entities 2. DLF LIMITED 46. INFORMATION ABOUT ASSOCIATES AND JOINT VENTURES (i) Joint ventures and associates S. No. Name of Entity Associates/ joint ventures/ joint operations Principal activities Principal place of business/ Country of Incorporation Proportion of ownership (%) as at 31 March 2019 Proportion of ownership (%) as at 31 March 2018 1. Banjara Hills Hyderabad Complex Joint operations Real Estate Developers India 50.00 50.00 2. DLF Gayatri Home Developers Private Limited Joint venture Real Estate Developers India 50.00 50.00 3. DLF Midtown Private Limited Joint venture Real Estate Developers India 50.00 50.00 4. DLF SBPL Developers Private Limited Joint venture Real Estate Developers India 50.00 50.00 5. DLF Urban Private Limited Joint venture Real Estate Developers India 50.00 50.00 6. GSG DRDL Consortium Joint operations Real Estate Developers India 50.00 50.00 7. Fairleaf Real Estate Private Limited [formerly YG Realty Private Limited] Joint venture Real Estate Developers India 50.00 50.00 8. DESIGNPLUS GROUP (JV) Comprising investment in Designplus Associates Services Private Limited (JV) alongwith its following subsidiary: Joint venture Real Estate Designer India 42.49 42.49 8.1 Spazzio Projects and Interiors Private Limited (JV) Joint venture Real Estate Designer India - - 9. DLF Homes Panchkula Private Limited Associate Real Estate Developers India 39.54 39.54 10. Joyous Housing Limited Joint venture Real Estate Developers India 37.50 37.50 11. Arizona Globalservices Private Limited Associate Real Estate Developers India - - 12. Aadarshini Real Estate Developers Private Limited [w.e.f. 19 March 2019] Joint venture Real Estate Developers India 67.00 - 13. DCCDL GROUP Comprising investment in DLF Cyber City Developers Limited alongwith its following subsidiaries [w.e.f 26 December, 2017] Joint venture Real Estate Developers India 66.66 66.66 i) Caraf Builders & Constructions Private Limited [now merged with DLF Cyber City Developers Limited (w.e.f. 27 September 2018)] Joint venture Real Estate Developers India - -
|726| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts S. No. Name of Entity Associates/ joint ventures/ joint operations Principal activities Principal place of business/ Country of Incorporation Proportion of ownership (%) as at 31 March 2019 Proportion of ownership (%) as at 31 March 2018 ii) DLF Assets Private Limited Joint venture Real Estate Developers India - - iii) DLF City Centre Limited Joint venture Real Estate Developers India - - iv) DLF Emporio Limited Joint venture Real Estate Developers India - - v) DLF Info City Developers (Chandigarh) Limited Joint venture Real Estate Developers India - - vi) DLF Info City Developers (Kolkata) Limited Joint venture Real Estate Developers India - - vii) DLF Power & Services Limited Joint venture Maintenance Company India - - viii) DLF Promenade Limited Joint venture Real Estate Developers India - - ix) Richmond Park Property Management Services Limited Joint venture Real Estate Developers India - - (ii) Summarised financial information for joint ventures Summarised financial information of the joint ventures, based on their consolidated Ind AS financial statements and reconciliation with the carrying amount of the investment in consolidated financial statements are set-out below: a) Summarised Balance sheet (` in lakhs) Particulars DLF Gayatri Home Developers Private Limited DLF Midtown Private Limited 31 March 2019 31 March 2018 31 March 2019 31 March 2018 Cash and cash equivalents 1.94 9.33 32.76 386.97 Other assets 476.90 476.90 193,272.18 197,778.60 Current assets (A) 478.84 486.23 193,304.94 198,165.57 Non-current assets (B) - - 9.68 8.75 Current financial liabilities (excluding trade payables and provisions) 738.19 649.77 3,519.19 2,747.36 Trade payables and provisions 5.84 5.52 37.32 11.46 Current liabilities (C) 744.03 655.29 3,556.51 2,758.82 Non-current financial liabilities (excluding trade payables and provisions) - - 86,201.36 116,660.28 Non-current liabilities (D) - - 86,201.36 116,660.28 Net assets (A+B-C-D) (265.19) (169.06) 103,556.75 78,755.22 Equity 1.00 1.00 2,248.20 2,248.20 Proportion of the Group’s ownership 50% 50% 50% 50% Carrying amount of the investment (132.54) (84.46) 41,920.23 72,200.61
|727| Chap. 30 – Ind AS 112 – Interest in other entities (` in lakhs) Particulars DLF SBPL Developers Private Limited DLF Urban Private Limited 31 March 2019 31 March 2018 31 March 2019 31 March 2018 Cash and cash equivalents 2.29 2.44 1,146.30 989.25 Other assets 13.32 13.32 86,239.32 81,241.47 Current assets (A) 15.61 15.76 87,385.62 82,230.72 Non-current assets (B) - - 18.26 12.15 Current financial liabilities (excluding trade payables and provisions) 245.70 200.60 1,276.31 450.77 Trade payables and provisions 7.15 13.58 771.87 1,384.25 Current liabilities (C) 252.85 214.18 2,048.18 1,835.02 Non-current financial liabilities (excluding trade payables and provisions) - - 52,387.17 53,585.49 Trade payables and provisions - - - - Non-current liabilities (D) - - 52,387.17 53,585.49 Net assets (A+B-C-D) (237.24) (198.42) 32,968.53 26,822.36 Equity 1.00 1.00 927.97 927.97 Proportion of the Group’s ownership 50% 50% 50% 50% Carrying amount of the investment (118.61) (99.20) 22,807.72 31,560.15 (` in lakhs) Particulars Fairleaf Real Estate Private Limited [formerly YG Realty Private Limited] Joyous Housing Limited 31 March 2019 31 March 2018 31 March 2019 31 March 2018 Cash and cash equivalents 1,574.57 1,349.08 1,316.17 6,581.95 Other assets 2,268.00 893.69 83,749.06 69,631.04 Current assets (A) 3,842.57 2,242.77 85,065.23 76,212.99 Non-current assets (B) 97,725.17 99,080.59 6,260.84 5,943.81 Current financial liabilities (excluding trade payables and provisions) 20,121.07 15,259.07 7,942.36 5,489.59 Trade payables and provisions 432.10 448.42 534.39 520.64 Current liabilities (C) 20,553.17 15,707.49 8,476.75 6,010.23 Non-current financial liabilities (excluding trade payables and provisions) 68,777.35 75,430.17 79,133.81 72,556.06 Trade payables and provisions 19.26 17.52 2.54 0.82 Non-current liabilities (D) 68,796.61 75,447.69 79,136.35 72,556.88 Net assets (A+B-C-D) 12,217.96 10,168.18 3,712.97 3,589.69 Equity 150.02 150.02 100.00 100.00 Proportion of the Group’s ownership 50% 50% 37.50% 37.50% Carrying amount of the investment 53,529.07 47,166.91 5,499.59 5,458.99
|728| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (` in lakhs) Particulars DCCDL Group Designplus Associates Services Private Limited (consolidated including Spazzio Projects and Interiors Private Limited) 31 March 2019 31 March 2018 31 March 2019 31 March 2018 Cash and cash equivalents 25,964.57 35,153.74 68.85 335.71 Other assets 810,634.34 938,455.55 1,080.48 1,215.37 Current assets (A) 836,598.91 973,609.29 1,149.33 1,551.08 Non-current assets (B) 1,932,141.55 1,852,470.42 336.56 333.98 Current financial liabilities (excluding trade payables and provisions) 263,285.22 205,010.24 185.60 231.69 Trade payables and provisions 23,698.96 25,755.58 278.33 408.22 Current liabilities (C) 286,984.18 230,765.82 463.93 639.91 Non-current financial liabilities (excluding trade payables and provisions) 1,734,179.29 1,818,954.41 30.64 39.36 Trade payables and provisions 1,126.51 1,135.81 138.06 132.65 Non-current liabilities (D) 1,735,305.80 1,820,090.22 168.70 172.01 Net assets (A+B-C-D) 746,450.48 775,223.67 853.26 1,073.14 Equity 226,416.77 226,416.77 29.42 29.42 Proportion of the Group’s ownership 67.00% 66.66% 42.49% 42.49% Carrying amount of the investment* 1,888,893.70 1,804,322.77 4,878.42 4,860.57 * Includes ` 17,473.52 lakhs (previous year: ` 8,205.60 lakhs) adjustment on account of elimination of profit with respect to transactions with DCCDL. (` in lakhs) Particulars Aadarshini Real Estate Developers Private Limited [w.e.f. 19 March 2019] 31 March 2019 31 March 2018 Cash and cash equivalents 1,06,423.95 - Other assets 13.07 - Current assets (A) 106,437.02 - Non-current assets (B) 82,797.32 - Current financial liabilities (excluding trade payables and provisions) 4,011.59 - Trade payables and provisions 66.04 - Current liabilities (C) 4,077.63 - Non-current financial liabilities (excluding trade payables and provisions) 133,545.56 - Trade payables and provisions - - Non-current liabilities (D) 133,545.56 - Net assets (A+B-C-D) 51,611.15 -
|729| Chap. 30 – Ind AS 112 – Interest in other entities Particulars Aadarshini Real Estate Developers Private Limited [w.e.f. 19 March 2019] 31 March 2019 31 March 2018 Equity 7.46 - Proportion of the Group’s ownership 67.00% - Carrying amount of the investment 59,232.11 - b) Summarised Statement of profit and loss: (` in lakhs) Particulars DLF Gayatri Home Developers Private Limited DLF Midtown Private Limited For the year ended 31 March 2019 For the year ended 31 March 2018 For the year ended 31 March 2019 For the year ended 31 March 2018 Revenue - - - - Other income - - - 1.00 Total revenue (A) - - - 1.00 Depreciation and amortisation - - - - Employee benefit expense - - 3.07 - Finance costs 79.19 75.37 287.52 265.45 Other expense 16.95 16.51 22.44 22.35 Total expenses (B) 96.14 91.88 313.03 287.80 Profit/(loss) before tax (C = A-B) (96.14) (91.88) (313.03) (286.80) Tax expense (D) - - - - Profit/(loss) for the year (E = C-D) (96.14) (91.88) (313.03) (286.80) Other comprehensive income (F) - - - - Total comprehensive income (E+F) (96.14) (91.88) (313.03) (286.80) Share of profit/(loss) for the year (48.07) (45.88) (156.52) (143.40) (` in lakhs) Particulars Fairleaf Real Estate Private Limited [formerly YG Realty Private Limited] Joyous Housing Limited For the year ended 31 March 2019 For the year ended 31 March 2018 For the year ended 31 March 2019 For the year ended 31 March 2018 Revenue 15,532.89 13,431.21 - - Other income 763.20 1,043.54 305.07 63.02 Total revenue (A) 16,296.09 14,474.75 305.07 63.02 Cost of Construction - - (10,367.19) (8,352.70) Depreciation and amortisation 2,350.85 2874.56 2.90 11.29 Employee benefit expense 237.34 228.26 202.71 123.11 Finance costs 9,593.47 10089.42 10,494.80 9,029.34
|730| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars Fairleaf Real Estate Private Limited [formerly YG Realty Private Limited] Joyous Housing Limited For the year ended 31 March 2019 For the year ended 31 March 2018 For the year ended 31 March 2019 For the year ended 31 March 2018 Other expense 2,066.80 1956.94 25.02 37.73 Total expenses (B) 14,248.46 15,149.18 358.24 848.77 Profit/(loss) before tax (C = A-B) 2,047.63 (674.43) (53.17) (785.75) Tax expense (D) - - 175.93 413.64 Profit/(loss) for the year (E = C-D) 2,047.63 (674.43) 122.76 (372.11) Other comprehensive income (F) 2.15 1.72 (0.53) (1.50) Total comprehensive income (E+F) 2,049.78 (672.71) 123.29 (373.61) Share of profit/(loss) for the year 1,024.89 (336.36) 46.23 (134.46) (` in lakhs) Particulars DLF SBPL Developers Private Limited DLF Urban Private Limited For the year ended 31 March 2019 For the year ended 31 March 2018 For the year ended 31 March 2019 For the year ended 31 March 2018 Revenue - - - - Other income - - - 0.09 Total revenue (A) - - - 0.09 Finance costs 18.59 15.04 0.07 0.50 Other expense 20.23 21.85 34.03 47.34 Total expenses (B) 38.82 36.89 34.10 47.84 Profit/(loss) before tax (C = A-B) (38.82) (36.89) (34.10) (47.75) Tax expense (D) - - - - Profit/(loss) for the year (E = C-D) (38.82) (36.89) (34.10) (47.75) Other comprehensive income (F) - - - - Total comprehensive income (E+F) (38.82) (36.89) (34.10) (47.75) Share of profit/(loss) for the year (19.41) (18.44) (17.05) (23.88) (` in lakhs) Particulars DCCDL Group Designplus Associates Services Private Limited For the year ended 31 March 2019 For the year ended 31 March 2018 For the year ended 31 March 2019 For the year ended 31 March 2018 Revenue 395,880.01 107,940.49 2,183.78 2,995.12 Other income 112,925.16 30,378.09 100.92 143.57 Total revenue (A) 508,805.17 138,318.58 2,284.70 3,138.69 Cost of facility management expenses 98,072.19 17,847.72 1,215.34 1,455.79
|731| Chap. 30 – Ind AS 112 – Interest in other entities Particulars DCCDL Group Designplus Associates Services Private Limited For the year ended 31 March 2019 For the year ended 31 March 2018 For the year ended 31 March 2019 For the year ended 31 March 2018 Depreciation and amortisation 43,014.19 10,534.47 18.20 17.70 Employee benefit expense 10,426.70 2,544.19 624.35 907.06 Finance costs 172,336.07 42,007.09 12.02 7.43 Other expense 20,933.22 24,105.26 633.65 688.51 Total expenses (B) 344,782.37 97,038.73 2,503.56 3,076.49 Profit/ (loss) before tax (C = A-B) 164,022.80 41,279.85 (218.86) 62.20 Exceptional item - 47.18 - - Tax expense (D) 24,066.60 6,695.63 1.00 (0.71) Profit/ (loss) for the year (E = C-D) 139,956.20 34,631.40 (219.86) 62.91 Other comprehensive income (F) (1.26) 55.35 - - Total comprehensive income (E+F) 139,954.94 34,686.75 (219.86) 62.91 Share of profit/ (loss) for the year 93,293.96 23,129.14 (93.42) 26.73 (` in lakhs) Particulars Aadarshini Real Estate Developers Private Limited [w.e.f. 19 March 2019] For the year ended 31 March 2019 For the year ended 31 March 2018 Revenue - - Other income - - Total revenue (A) - - Depreciation and amortisation - - Employee benefit expense - - Finance costs 0.06 - Other expense 76.19 - Total expenses (B) 76.25 - Profit/ (loss) before tax (C = A-B) (76.25) - Exceptional item - - Tax expense (D) - - Profit/ (loss) for the year (E = C-D) (76.25) - Other comprehensive income (F) - - Total comprehensive income (E+F) (76.25) - Share of profit/ (loss) for the year (50.83) -
|732| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts iii) Summarised financial information for associates Summarised financial information of the associates, based on its consolidated Ind AS financial statements and reconciliation with the carrying amount of the investment in consolidated financial statements are set out below: a) Summarised Balance sheet (` in lakhs) Particulars DLF Homes Panchkula Private Limited Arizona Globalservices Private Limited For the year ended 31 March 2019 For the year ended 31 March 2018 For the year ended 31 March 2019 For the year ended 31 March 2018 Cash and cash equivalents 401.09 186.43 13.99 114.99 Other assets 91,010.37 83,747.49 4,140.21 4,907.91 Current assets (A) 91,411.46 83,933.92 4,154.20 5,022.90 Non-current assets (B) 3,216.10 5,840.75 18,401.11 18,044.80 Current financial liabilities (excluding trade payables and provisions) 109,637.01 81,822.81 43.78 48.45 Trade payables and provisions 17,710.74 14,329.49 210.10 719.78 Current liabilities (C) 127,347.75 96,152.30 253.88 768.23 Non-current financial liabilities (excluding trade payables and provisions) - - 500.00 1,100.00 Trade payables and provisions 36.34 33.30 - - Non-current liabilities (D) 36.34 33.30 500.00 1,100.00 Net assets (A+B-C-D) (32,756.53) (6,410.93) 21,801.43 21,199.47 Equity 6.24 6.24 20,133.00 20,133.00 Proportion of the Group’s ownership 39.54% 39.54% 34.97% 34.97% Carrying amount of the investment 0.00 (3,694.39) 10,311.39 10,363.89 b) Summarised Statement of profit and loss (` in lakhs) Particulars DLF Homes Panchkula Private Limited Arizona Globalservices Private Limited For the year ended 31 March 2019 For the year ended 31 March 2018 For the year ended 31 March 2019 For the year ended 31 March 2018 Revenue 15,013.65 (2,595.31) 1,845.26 1,843.99 Other Income 37.13 51.98 719.53 485.84 Total revenue (A) 15,050.78 (2,543.33) 2,564.79 2,329.83 Cost of Sales 14,844.75 959.67 1,826.98 1,817.82 Depreciation and amortisation 111.74 112.23 1.83 1.00 Employee benefit expense 242.76 45.21 10.38 13.21 Finance costs 6,693.50 5,765.70 11.31 103.70 Other expense 2,950.01 1,486.75 100.21 420.25 Total expenses (B) 24,842.76 8,369.56 1,950.71 2,355.98
|733| Chap. 30 – Ind AS 112 – Interest in other entities Particulars DLF Homes Panchkula Private Limited Arizona Globalservices Private Limited For the year ended 31 March 2019 For the year ended 31 March 2018 For the year ended 31 March 2019 For the year ended 31 March 2018 Profit/ (loss) before tax (C=A-B) (9,791.98) (10,912.89) 614.08 (26.15) Tax expense (D) - - (12.13) (24.73) Profit/ (loss) for the year (E = C-D) (9,791.98) (10,912.89) 601.95 (50.88) Other comprehensive income (F) (0.73) 4.27 - - Total comprehensive income (E+F) (9,791.25) (10,908.62) 601.95 (50.88) Share of profit/ (loss) for the year - (4,313.35) 210.50 (17.79) (iv) Other information Contingent liabilities for joint ventures and associates (` in lakhs) Description 31 March 2019 31 March 2018 Contingent liabilities – joint ventures and associates Share of contingent liabilities incurred jointly with other investors of the joint ventures and associates Entity name wise listing DCCDL Group (refer note (a) below) 176,593.32 181,139.56 Joyous Housing Limited 581.25 733.13 Fairleaf Real Estate Private Limited [formerly YG Realty Private Limited] 6.18 6.18 DLF Homes Panchkula Private Limited 85.72 34.66 Total Amount 177,266.47 181,913.53 Dividend income and information related to fair value. No dividends were received from joint ventures and associates during the year ended 31 March 2019 and 31 March 2018. All the joint ventures and associates are either private companies or closely held public companies and hence, no quoted market price available for its shares. Note: a) As per the terms of the SPSHA mentioned in note 43(e), the Group has undertaken to indemnify, defend and hold harmless the Investor against all losses incurred or suffered by DCCDL Group arising out of following matters upto or prior to 25 December 2017 (i.e. Closing Date): i) Income tax demands related to various matters and assessments year upto the closing date of ` 154,590.45 lakhs (31 March 2018: ` 159,037.06 lakhs); ii) Indirect tax demands including service tax and entry tax related to various matters and financial years upto the closing date of ` 20,819.36 lakhs (31 March 2018: ` 20,916.36 lakhs); iii) During earlier years, Chandigarh Administration served a Show Cause Notice to one of the subsidiaries of DCCDL Group alleging that certain portion of IT Park meant to be leased out to IT/ ITES companies was leased out to non IT/ ITES companies. On the said Show Cause Notice, order dated 20 August 2010 was passed by the Estate Officer, Chandigarh to resume the site and the subsidiary company was directed to pay misuse charges of ` 3,962.78 lakhs. The subsidiary company filed an appeal before Chief Administrator, Union Territory, Chandigarh against the order of the Estate Officer, who revoked the resumption order subject to the subsidiary company depositing the rent received on account of renting the office space to Non-IT/ ITES companies
|734| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts amounting to ` 1,352.80 lakhs. The subsidiary company deposited the same under protest and subsequently filed a revision petition before the advisor to the Administrator (U.T.), Chandigarh challenging the deposit of ` 1,352.80 lakhs which is pending disposal. The Group’s liability w.r.t. in this case is restricted to share of profit in DCCDL Group i.e. 66.66%. Based on the advice from independent legal experts and development on the revision, the management is confident that amount so deposited under protest holds good for recovery and hence, no provision is required to be made in these consolidated financial statements at this stage. iv) During the previous years, DLF Utilities Limited (“DUL”) had received a notice from the Dakshin Haryana Bijli Vitran Nigam (“DHBVN”) wherein it had claimed cross subsidy surcharge of ` 3,328.00 lakhs on electricity being supplied by DUL to other companies for the period from 1 April 2011 to 30 September 2012 and had questioned the legality of such electricity supply. DUL filed an appeal to Haryana Electricity Regulatory Commission (“HERC”), wherein HERC vide order dated 11 August 2011 held that the supply of electricity by DUL was legal, however, DUL was liable to pay cross subsidy surcharge. Aggrieved by the said order, DUL filed an appeal before Appellate Tribunal of Electricity (“APTEL”) against the levy of cross subsidy surcharge. APTEL held that the supply of electricity for commercial establishments from the main receiving panel was not in accordance with law and must be discontinued. Further, APTEL also held that the DUL was liable to pay the cross subsidy surcharge and accordingly, a demand of ` 3,328.00 lakhs was received by DUL from DHBVN against the same. Aggrieved by the order of APTEL, DUL filed an appeal before the Hon’ble Supreme Court of India who has stayed the execution of the said order and asked DUL to deposit an amount of ` 284.36 lakhs to DHBVN which has been duly deposited. Based on the advice of the independent legal counsel, the management believes that there is a reasonably strong likelihood of succeeding before the Hon’ble Supreme Court of India and accordingly no adjustment is required to be made in the consolidated financial statements at this stage. i) The land parcel admeasuring 19.5 acres was acquired by the Group from Government of Haryana (‘GoH’) in August, 2006 for development of Cyber City Project, which was earlier acquired by GoH from Gram Panchayat, Nathupur on February, 2004 through proceedings of compulsory acquisition. DCCDL Group had constructed certain portions of its two IT/ IT SEZ buildings of the Cyber City Project as well as entered into third party rights vide lease/ sale of office space in the said buildings. Subsequently, the Hon’ble High Court of Punjab and Haryana, pursuant to a public interest litigation, vide order dated 1 October 2010, quashed the land acquisition proceedings and conveyance deed by GoH and directed the GoH to refund the amount, which was earlier paid by the Group and also directed the Group to remove any construction on the said land. Against the said order, the Group filed a Special Leave Petition in November, 2010 before the Hon’ble Supreme Court of India, who vide order dated 3 January 2012, stayed the order of the High Court and the matter is pending disposal before the Hon’ble Supreme Court of India. Based on the advice of the independent legal counsel, the management believes that there is strong likelihood of succeeding before the Hon’ble Supreme Court of India. ii) The Company along with its subsidiaries had acquired a land parcel admeasuring approximately 30 acres and 7 acres, respectively from EIH Limited (‘EIH’) for development of IT/ ITES project at Silokhera, Gurugram, which EIH acquired from GoH. The Company constructed 2 IT/ ITES SEZ Buildings on the said land, which was sold to one of the subsidiary companies of the DCCDL Group. The Company is constructing another block of buildings on the DCCDL Group’s behalf. The Net Block and Capital Work-in-Progress against Silokhera project appearing in DCCDL Group’s books as at 31 March 2019 amounts to ` 160,785.95 lakhs (gross block of ` 187,490.98 lakhs) and ` 89,122.37 lakhs, respectively.
|735| Chap. 30 – Ind AS 112 – Interest in other entities Subsequently, the Hon’ble High Court of Punjab and Haryana, pursuant to a public interest litigation and vide its order dated 3 February 2011 directed the GoH to carry out the acquisition proceedings again from the notification stage under the Land Acquisition Act, 1894 and directed the Company and its subsidiary to remove all constructions made on the said land. The Company filed a Special Leave Petition before the Hon’ble Supreme Court of India and the Hon’ble Supreme Court of India vide order dated 20 September 2011 stayed the order of the Hon’ble High Court and the matter is currently pending before the Hon’ble Supreme Court of India and the next date of hearing is yet to be notified by the registry. Based on the advice of the independent legal counsel, the management believes that there is a strong likelihood of succeeding before the Hon’ble Supreme Court of India. Pending the final decision on the above matter, no further adjustment has been made in these consolidated financial statements. b) During the year 31 March 2013, Fairleaf Real Estate Private Limited [formerly YG Realty Private Limited] had received a notice of demand under section 156 of the Income-tax Act, 1961 for the Assessment Year 2009-10, wherein, the Assessing Officer (AO) workedout two situations in its Order and disallowed a part of the purchase consideration paid by the Company for acquisition of development rights of ` 38,512.00 lakhs in situation 1 and ` 3,700.00 lakhs in situation II and initiated penalty proceedings. The Appeal is pending before Income Tax Appellant Tribunal (ITAT) claiming that the CIT (A) has erred in disallowing the cost of development rights paid by the Fairleaf Real Estate Private Limited [formerly YG Realty Private Limited]. Based on the advice of the independent legal counsel, the management believes that there is a strong likelihood of succeeding. Pending the final decision on the above matter, no further adjustment has been made in these consolidated financial statements. 3. FUTURE RETAIL LIMITED Interest In Other Entities Subsidiary Companies : S. No. Name of the Group Description of Interest Country of Incorporation Percentage of Interest as on March 31, 2019 1 Travel News Services (India) Private Limited Equity India 100% 2 TNSI Retail Private Limited Equity India 100% 3 Welcome Retail Private Limited Equity India 51% 4 SHME Food Brands Private Limited Equity India 100% Joint Venture Group Information : S. No. Name of the Group Description of Interest Country of Incorporation Percentage of Interest as on December 31, 2018 1 Future Retail LLC Equity Sultanate of Oman 50%
|736| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Group’s Interest in the Joint Venture: (` in crore) Particulars As At March 31,2019 Assets 12.18 Liabilities 8.05 Income - Expenditure (0.49) 4. HINDUSTAN CONSTRUCTION COMPANY LIMITED NOTE 44 INTEREST IN OTHER ENTITIES Joint operations The Group’s share of interest in joint operations as at 31 March 2019 is set out below: Name of the entity % of ownership interest held by the Group Name of the ventures’ partner Principal place of business Principal activities As at March 31, 2019 As at March 31, 2018 HCC- L&T Purulia Joint Venture 57.00 57.00 Larsen and Toubro Limited India Construction Nathpa Jhakri Joint venture 40.00 40.00 Impregilio-Spa, Italy India Construction Kumagai- SkanskaHCC- Itochu Joint Venture 19.60 19.60 Skanska, Kumagai India Construction Alpine- Samsung Joint Venture 33.00 33.00 Itochu, Alpine Meyreder Bau, Samsung Corporation India Construction Alpine- HCC Joint Venture 49.00 49.00 Alpine Meyreder Bau India Construction HCC- Samsung Joint Venture CC-34 50.00 50.00 Samsung C&T Corporation India Construction HCC- Max Joint Venture 40.00 - MAX Group, Bangladesh Bangladesh Construction HCC- HDC Joint Venture 55.00 - Hyundai Development Company India Construction ARGE Prime tower 45.00 45.00 Losinger Construction AG Switzerland Construction Classification of joint arrangements The joint venture agreements in relation to the above mentioned joint operations require unanimous consent from all the parties for all relevant activities. All co-venturers have direct rights to the assets of the joint venture and are also jointly and severally liable for the liabilities incurred by the joint venture. These joint ventures are therefore classified as a joint operation and the Group recognises its direct right to the
|737| Chap. 30 – Ind AS 112 – Interest in other entities jointly held assets, liabilities, revenue and expenses. In respect of these contracts (assessed as AOP under the Income tax laws), the services rendered to the joint ventures are accounted as income on accrual basis. ` crore As at March 31, 2019 As at March 31, 2018 ii) Summarised balance sheet Total assets 70.17 43.09 Total liabilities 136.25 74.01 iii) Contingent liability as at reporting date Contingent liability 5.52 7.05 Capital & other commitment 0.28 - iv) Summarised statement of profit and loss account Revenue from operations 23.25 19.90 Other income 0.92 0.83 Total expenses (including taxes) 39.17 38.39 b) Joint operations on work sharing basis Contracts executed in joint venture under work sharing arrangement (consortium) is set out below. The principal place of business of all these arrangements is in India and they are engaged in construction business. i) HCC Van Oord ACZ Joint Venture xiii) HCC - Halcrow Joint Venture ii) Samsung - HCC Joint Venture xiv) HCC - Laing - Sadbhav iii) L & T - HCC Joint Venture xv) HCC - MEIL - NCC - WPIL Joint Venture iv) HCC - KBL Joint Venture xvi) HCC - DSD - VNR Joint Venture v) HCC - NCC Joint Venture xvii) MEIL - IVRCL - HCC - WPIL Joint Venture vi) HCC - CEC Joint Venture xviii) Alstom Hydro France - HCC Joint Venture vii) HCC - NOVA Joint Venture xix) HCC - MMS (MMRCL) Joint Venture viii) HCC - CPL Joint Venture xx) HCC - LCESPL (Bistan Lift) Joint venture ix) HCC - MEIL - CBE Joint Venture xxi) HCC - HSEPL Joint Venture x) HCC - MEIL - BHEL Joint Venture xxii) HCC - AL FARA'A Joint Venture xi) HCC - MEIL - SEW - AAG Joint Venture xxiii) HCC - URCC Joint Venture xii) HCC - MEIL - SEW Joint Venture Classification of work executed on sharing basis Contracts executed in joint venture under work sharing arrangement (consortium) is accounted to the extent work executed by the Group as that of an independent contract. NOTE 49: INTEREST IN OTHER ENTITIES 49.1 Subsidiaries The Group’s subsidiaries as at 31 March 2019 are set out below. Unless otherwise stated, they have share capital consisting solely of equity shares that are held directly by the Group, and the proportion of ownership interests held equals the voting rights held by the Group. The country of incorporation is also their principal place of business.
|738| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Name of the entity Country of incorporation Ownership interest held by the group (%) ^ Ownership interest held by non controlling interests (%) Principal activities March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Western Securities Limited India 97.87 97.87 2.13 2.13 Insurance auxlliary services HCC Real Estate Limited India 100.00 100.00 - - Real Estate Development Panchkutir Developers Limited India 100.00 100.00 - - Real Estate Development HCC Mauritius Enterprises Limited Mauritius 100.00 100.00 - - Investment company HCC Construction Limited India 100.00 100.00 - - Construction Highbar Technologies Limited India 100.00 100.00 - - Information Technology Consulting HCC Infrastructure Company Limited India 100.00 100.00 - - Toll Management HCC Mauritius Investments Limited Mauritius 100.00 100.00 - - Investment company Lavasa Corporation Limited (upto 30 August 2018) India 68.70^^ 68.70 31.30^^ 31.30 Township development HRL (Thane) Real Estate Limited India 100.00 100.00 - - Real Estate Development HRL Township Developers Limited India 100.00 100.00 - - Real Estate Development Nashik Township Developers Limited India 100.00 100.00 - - Real Estate Development Maan Township Developers Limited India 100.00 100.00 - - Real Estate Development Charosa Wineries Limited (upto 6 February 2019) India - 100.00 - - Wineries Powai Real Estate Developer Limited India 100.00 100.00 - - Real Estate Development HCC Realty Limited India 100.00 100.00 - - Real Estate Development HCC Aviation Limited India 100.00 100.00 - - Aircraft services HCC Operation and Maintenance Limited India 100.00 100.00 - - Operation and Maintenance of Road
|739| Chap. 30 – Ind AS 112 – Interest in other entities Name of the entity Country of incorporation Ownership interest held by the group (%) ^ Ownership interest held by non controlling interests (%) Principal activities March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Dhule Palesner Operations & Maintenance Limited India 100.00 100.00 - - Operation and Maintenance of Road HCC Power Limited India 100.00 100.00 - - Power Development HCC Energy Limited India 100.00 100.00 - - Power Development Lavasa Hotel Limited India 100.00 ^^ 100.00 - ^^ - Hotel (Hospitality) Lakeshore Watersports Company Limited India 100.00 ^^ 100.00 - ^^ - Watersport operations Dasve Convention Center Limited India 100.00 ^^ 100.00 - ^^ - Hospitality services Dasve Business Hotel Limited India 100.00 ^^ 100.00 - ^^ - Entertainment and Hospitality Dasve Hospitality Institutes Limited India 100.00 ^^ 100.00 - ^^ - Educational services Lakeview Clubs Limited India 100.00 ^^ 100.00 - ^^ - Clubs Dasve Retail Limited India 100.00 ^^ 100.00 - ^^ - Retail and leasing business Full Spectrum Adventure Limited India 90.91 ^^ 90.91 9.09 ^^ 9.09 Adventure Sports Lavasa Bamboocrafts Limited India 100.00 ^^ 100.00 - ^^ - Manufacturing and sale of bamboo articles My City Technology Limited India 63.00 ^^ 63.00 37.00 ^^ 37.00 Information and Communication Technology Reasonable Housing Limited India 100.00 ^^ 100.00 - ^^ - Housing business Future City Multiservices Sez Limited India 100.00 ^^ 100.00 - ^^ - Development of SEZ Verzon Hospitality Limited India 100.00 ^^ 100.00 - ^^ - Hostel services Rhapsody Commercial Space Limited India 100.00 ^^ 100.00 - ^^ - Leasing business
|740| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Name of the entity Country of incorporation Ownership interest held by the group (%) ^ Ownership interest held by non controlling interests (%) Principal activities March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Valley View Entertainment Limited India 100.00 ^^ 100.00 - ^^ - Entertainment services Warasgaon Tourism Limited India 100.00 ^^ 100.00 - ^^ - Transport and Tourism Our Home Service Apartments Limited India 100.00 ^^ 100.00 - ^^ - Hotel (Hospitality) Warasgaon Power Supply Limited India 100.00 ^^ 100.00 - ^^ - Infrastructure - BOT basis Sahyadri City Management Limited India 100.00 ^^ 100.00 - ^^ - City management Hill City Service Apartments Limited India 100.00 ^^ 100.00 - ^^ - Hotel (Hospitality) Kart Racers Limited India 89.90 ^^ 89.90 10.10 ^^ 10.10 Adventure Sports Warasgaon Infrastructure Providers Limited India 100.00 ^^ 100.00 - ^^ - Infrastructure services Nature Lovers Retail Limited India 100.00 ^^ 100.00 - ^^ - Retail services Warasgaon Valley Hotels Limited India 100.00 ^^ 100.00 - ^^ - Hotel (Hospitality) Rosebay Hotels Limited India 100.00 ^^ 100.00 - ^^ - Hotel (Hospitality) Mugaon Luxury Hotels Limited India 100.00 ^^ 100.00 - ^^ - Hotel (Hospitality) Warasgaon Assets Maintenance Limited India 100.00 ^^ 100.00 - ^^ - InfrastructureBOT basis Hill View Parking Services Limited India 100.00 ^^ 100.00 - ^^ - Parking services Steiner AG Switzerland 100.00 100.00 - - Real Estate Development Steiner Promotions et Participations SA Switzerland 100.00 100.00 - - Real Estate Development Steiner (Deutschland) GmbH Germany 100.00 100.00 - - Real Estate Development VM + ST AG Switzerland 100.00 100.00 - - Real Estate Development
|741| Chap. 30 – Ind AS 112 – Interest in other entities Name of the entity Country of incorporation Ownership interest held by the group (%) ^ Ownership interest held by non controlling interests (%) Principal activities March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Steiner Leman SAS France 100.00 100.00 - - Real Estate Development Eurohotel SA Switzerland 95.00 95.00 5.00 5.00 Real Estate Development Steiner India Limited India 100.00 100.00 - - Real Estate Construction Manufakt8048 AG Switzerland 100.00 100.00 - - Real Estate Development Green Hills Residences Limited India 100.00 ^^ 100.00 - ^^ - Hostel Services ^ including through subsidiary companies ^^ 49.1(i) Pursuant to initiation of the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (‘IBC’) against Lavasa Corporation Limited (LCL), effective 30 August 2018, the Holding Company has lost control / significant influence over LCL and its subsidiaries, associates and joint ventures. Accordingly, the above entities cease to be subsidiaries, associate and joint ventures of the Holding Company. 49.2 Non-controlling interests (NCI) The following table summarises the information relating to each of the subsidiaries that has NCI. The amounts disclosed for each subsidiary are before intra-group eliminations ` crore Particulars Western Securities Limited Lavasa Corporation Limited Full Spectrum Adventure Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 NCI percentage 2.13% 2.13% - ^ 31.30% - ^ 9.09% Summarised balance sheet Current assets (A) 0.31 0.29 - ^ 2,144.02 - ^ 0.57 Non-current assets (B) 1.83 2.31 - ^ 2,662.76 - ^ 3.34 Current liabilities (C) 0.00* 0.20 - ^ 6,020.81 - ^ 24.09 Non-current liabilities (D) 0.50 0.51 - ^ 636.80 - ^ 0.02 Net assets (A+B-C-D) 1.64 1.89 - ^ (1,850.83) - ^ (20.20) Net assets attributable to NCI 0.03 0.04 - ^ (579.31) - ^ (1.84) Summarised statement of profit and loss Revenue 0.20 0.20 - ^ 64.94 - ^ 1.95 Profit/(loss) for the year (0.21) 0.09 - ^ (943.44) - ^ (3.31) Other comprehensive income/(loss) (0.03) (0.07) - ^ (0.01) - ^ 0.00* Total comprehensive income (0.24) 0.02 - ^ (943.45) - ^ (3.31) Profit/(loss) allocated to NCI (0.00)* 0.00* - ^ (295.30) - ^ (0.30)
|742| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars Western Securities Limited Lavasa Corporation Limited Full Spectrum Adventure Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 OCI allocated to NCI (0.00)* (0.00)* - ^ 0.00* - ^ 0.00* Total comprehensive income allocated to NCI (0.00)* 0.00* - ^ (295.30) - ^ (0.30) Summarised cash flows Cash flow from operating activities (0.44) 0.05 - ^ (5.44) - ^ 0.46 Cash flow from investing activities 0.50 (0.07) - ^ (36.06) - ^ - Cash flow from financing activities - - - ^ 39.63 - ^ (0.54) Net increase/ (decrease) in cash and cash equivalents 0.06 (0.02) - ^ (1.87) - ^ (0.08) ` crore Particulars Kart Racers Limited My City Technology Euro hotel SA Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 NCI percentage - ^ 10.10% - ^ 37.00% 5.00% 5.00% Summarised balance sheet Current assets (A) - ^ - - ^ 13.31 0.23 0.12 Non-current assets (B) - ^ - - ^ 0.38 - - Current liabilities (C) - ^ 0.23 - ^ 4.92 0.75 9.65 Non-current liabilities (D) - ^ - - ^ 0.00* - - Net assets (A+B-C-D) - ^ (0.23) - ^ 8.77 (0.52) (9.53) Net assets attributable to NCI - ^ (0.02) - ^ 3.24 (0.03) (0.48) Summarised statement of profit and loss Revenue - ^ - - ^ 0.46 - - Profit/(loss) for the year - ^ (0.03) - ^ (1.66) 0.25 (2.08) Other comprehensive income - ^ - - ^ 0.00* - - Total comprehensive income - ^ (0.03) - ^ (1.66) 0.25 (2.08) Profit/(loss) allocated to NCI - ^ (0.00)* - ^ (0.62) 0.01 (0.10) OCI allocated to NCI - ^ - - ^ 0.00* - - Total comprehensive income allocated to NCI - ^ (0.00)* - ^ (0.62) 0.01 (0.10) Summarised cash flows Cash flow from operating activities - ^ - - ^ (0.15) 0.11 0.09 Cash flow from investing activities - ^ - - ^ 0.15 - - Cash flow from financing activities - ^ - - ^ - - - Net increase/ (decrease) in cash and cash equivalents - ^ - - ^ (0.01) 0.11 0.09 ^- Refer note 49.1(i)
|743| Chap. 30 – Ind AS 112 – Interest in other entities 49.3 Interest in associates and joint venture ` crore Note Carrying amount as at March 31, 2019 March 31, 2018 Interest in associates See (A) below 20.28 30.83 Interest in joint ventures See (B) below 140.01 344.16 160.29 374.99 (A) Interest in associates The Group’s associates as at 31 March 2019 are set out below. Unless otherwise stated, they have share capital consisting solely of equity shares that are held directly by the Group, and the proportion of ownership interests held equals the voting rights held by the Group. The country of incorporation is also their principal place of business. ` crore Name of the entity Country of incorporation Ownership interest (%) Carrying amount as at ^^ Principal activities 31 March 2019 31 March 2018 Warasgaon Lake View Hotels Limited India 24.56^ - 12.13 Hospitality Knowledge Vistas Limited India 49.00^ - 13.19 Education Evostate AG Switzerland 30.00 3.39 0.18 Real estate development MCR Managing Corporate Real Estate AG Switzerland 30.00 3.28 9.49 Real estate development Projektentwicklungsgesellschaft Parking Kunstmuseum AG Switzerland 39.00 6.49 3.51 Real estate development Highbar Technocrat Limited India 49.00 7.12 5.52 IT services 20.28 44.02 Less: Impairment allowance - (13.19) Total 20.28 30.83 ^Refer note 49.1(i) ^^Unlisted entity- no quoted price available Refer note 49.4 for the summarised financial information of associates. The information disclosed reflects the amount presented in the financial statement of the relevant associates and not Group’s share of those amounts. They have been amended to reflect adjustments made by the Group when using the equity method, including fair value adjustments at the time of acquisition and modifications for difference in accounting policies. Group share of capital commitment and contingent liability in relation to its interest in associates is Nil. (B) Interest in joint ventures The Group’s joint ventures as at 31 March 2019 are set out below. Unless otherwise stated, they have share capital consisting solely of equity shares that are held directly by the Group, and the proportion of ownership interests held equals the voting rights held by the Group. The country of incorporation is also their principal place of business.
|744| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts ` crore Name of the entity Country of incorporation Ownership interest (%) Carrying amount as at ^^ Principal activities 31 March 2019 31 March 2018 Nirmal BOT India 100.00 - - Toll management Whistling Thrush Facilities Services Limited India 51.00^ - - Facility management services Starlit Resort Limited India 26.00^ - 3.89 Hospitality Ecomotel Hotel Limited India 40.00^ - 6.00 Hospital health care services Andromeda Hotels Limited India 40.03^ - 2.90 Hospitality Apollo Lavasa Health Corporation Limited India 49.00^ - 25.08 Hospital health care services Bona Sera Hotels Limited India 26.00^ - - Hospitality Spotless Laundry Services Limited India 76.02^ - - Laundry services HCC Concessions Limited India 85.45 137.23 292.81 Concessionaries services Baharampore-Farakka Highways Ltd India 85.45 0.00* 0.45 Toll management Farakka-Raiganj Highways Ltd India 85.45 0.00* 8.92 Toll management Raiganj-Dalkhola Highways Ltd India 86.91 2.78 4.11 Toll management 140.01 344.16 ^Refer note 49.1(i) ^^Unlisted entity- no quoted price available Refer Note 49.5 for the table below provide summarised financial information of joint ventures. The information disclosed reflects the amount presented in the financial statement of the relevant joint ventures and not Group’s share of those amounts. They have been amended to reflect adjustments made by the Group when using the equity method, including fair value adjustments at the time of acquisition and modifications for difference in accounting policies. Though the Group’s investment in below mentioned entities exceed 50% of the total share capital, these entities have been classified as joint venture. The management has assessed whether or not the group has control over these entities based on whether the group has practical ability to direct relevant activities unilaterally. In these cases, based on specific shareholders agreement, the management concluded that the group does not have practical ability to direct the relevant activities unilaterally but has such ability along with the other shareholders. The details in respect of these entities are as under: Name of the entity (%) of share holding as at 31 March 2019 HCC Concessions Limited 85.45 Baharampore-Farakka Highways Limited 85.45 Farakka-Raiganj Highways Limited 85.45 Raiganj-Dalkhola Highways Limited 86.91
|745| Chap. 30 – Ind AS 112 – Interest in other entities Group share of capital commitment and contingent liability in relation to its interest in joint ventures is as below: As at March 31, 2019 As at March 31, 2018 Contingent liability Claims not acknowledged as debts by the Group 2,433.28 2,083.23 Income Tax liability that may arise in respect of which Group is in appeals 7.60 8.55 Sales Tax Liability that may arise in respect of which Group is in appeals 13.44 15.32 Corporate guarantees given to banks 1,053.78 944.23 Commitments Capital commitment (net of advances) 318.01 43.51 Note 49.4 Table below provides summarised financial information for associates: ` crore Particulars Warasgaon Lake View Limited Highbar Technocrat Limited Evostate AG Hotels Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Summarised balance sheet Current assets (A) - ^ 1.97 32.43 30.83 86.39 0.11 Non-current assets (B) - ^ 112.36 3.63 1.09 - 0.69 Current liabilities (C) - ^ 18.56 17.77 19.25 86.51 0.05 Non-current liabilities (D) - ^ 44.00 3.40 0.51 - - Net assets (A+B-C-D) - ^ 51.77 14.89 12.16 (0.12) 0.75 Summarised statement of profit and loss Revenue - ^ 14.37 61.03 50.49 - - Profit/(loss) for the year (A) - ^ 8.30 5.81 5.39 (0.76) (0.08) Other comprehensive income (B) - ^ - 0.07 (0.03) - - Total comprehensive income (A+B) - ^ 8.30 5.88 5.36 (0.76) (0.08) ` crore Particulars MCR Managing Corporate Real Estate AG Projektentwickl ungsge sells chaft AG March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Summarised balance sheet Current assets (A) 19.16 84.17 20.83 28.32 Non-current assets (B) - - - - Current liabilities (C) 7.89 39.53 3.99 14.81 Non-current liabilities (D) - 12.84 - - Net assets (A+B-C-D) 11.27 31.80 16.84 13.51 Summarised statement of profit and loss Revenue 7.40 0.29 30.93 -
|746| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars MCR Managing Corporate Real Estate AG Projektentwickl ungsge sells chaft AG March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Profit/(loss) for the year (A) 5.55 (1.24) 18.94 (1.90) Other comprehensive income (B) - - - - Total comprehensive income (A+B) 5.55 (1.24) 18.94 (1.90) ^Refer note 49.1(i) Note 49.5 Table below provide summarised financial information for joint ventures: ` crore Particulars Raiganj-Dalkhola Highways Ltd Baharampore-Farakka Highways Ltd Farakka-Raiganj Highways Ltd HCC Concessions Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Summarised balance sheet Cash and cash equivalents 0.03 0.02 1.82 11.56 1.46 7.08 19.08 36.83 Other assets 267.42 90.00 82.25 26.74 33.60 29.66 1,709.70 98.47 Current assets (A) 267.45 90.02 84.07 38.30 35.06 36.74 1,728.78 135.30 Non-current assets (B) 0.64 178.07 979.41 965.44 1,592.15 1,600.59 1,597.16 3,181.27 Financial liabilities (excluding trade and other payable and provision) 94.33 61.24 100.92 93.80 433.72 398.54 2,205.82 655.56 Other liabilies 0.07 0.05 134.19 118.17 31.71 9.32 148.39 135.95 Current liabilities (C) 94.40 61.29 235.11 211.97 465.43 407.86 2,354.21 791.51 Financial liabilities (excluding trade and other payable and provision) 69.36 89.11 691.35 657.30 992.89 998.92 766.41 2,154.14 Other liabiliies - - - - 71.31 38.10 0.86 38.92 Non-current liabilities (D) 69.36 89.11 691.35 657.30 1,064.20 1,037.02 767.27 2,193.06 Net assets (A+B-C-D) 104.33 117.69 137.02 134.47 97.58 192.45 204.47 332.00 Summarised statement of profit and loss Revenue (A) - - 170.95 263.62 157.88 313.50 336.69 690.58 Depreciation and amortization - - 33.01 33.02 51.21 51.21 84.43 115.67 Finance Cost 12.10 11.47 40.49 54.55 86.65 89.22 195.13 209.45 Other Expenses 1.27 0.38 94.90 179.49 114.88 223.88 220.95 407.18 Total Expenses (B) 13.37 11.85 168.40 267.06 252.74 364.31 500.51 732.30
|747| Chap. 30 – Ind AS 112 – Interest in other entities Particulars Raiganj-Dalkhola Highways Ltd Baharampore-Farakka Highways Ltd Farakka-Raiganj Highways Ltd HCC Concessions Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Profit before tax (C=A-B) (13.37) (11.85) 2.55 (3.44) (94.86) (50.81) (163.82) (41.72) Tax Expense (D) - - - - - - 4.38 (0.00)* Profit for the year (E=C-D) (13.37) (11.85) 2.55 (3.44) (94.86) (50.81) (168.20) (41.72) Other comprehensive income (F) - - - - - - 0.04 0.01 Total comprehensive income (G= E+F) (13.37) (11.85) 2.55 (3.44) (94.86) (50.81) (168.16) (41.71) ` crore Particulars Andromeda Hotels Limited Whistling Thrush Facilities Services Limited Starlit Resort Limited Apollo Lavasa Health Corporation Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Summarised balance sheet Cash and cash equivalents - ^ 0.00* - ^ 0.00* - ^ 0.00* - ^ 0.00* Other assets - ^ - - ^ 6.15 - ^ 2.19 - ^ 0.87 Current assets (A) - ^ 0.00* - ^ 6.15 - ^ 2.19 - ^ 0.87 Non-current assets (B) 12.73 1.12 14.28 75.62 Financial liabilities (excluding trade and other payable and provision) - ^ - - ^ 1.40 - ^ 0.00* - ^ 0.00* Other liabilies - ^ 0.11 - ^ 7.41 - ^ 1.37 - ^ 24.45 Current liabilities (C) - ^ 0.11 - ^ 8.81 - ^ 1.37 - ^ 24.45 Financial liabilities (excluding trade and other payable and provision) - ^ 5.05 - ^ - - ^ 0.00* - ^ - Other liabiliies - ^ - - ^ - - ^ 0.03 - ^ - Non-current liabilities (D) - ^ 5.05 - ^ - - ^ 0.03 - ^ - Net assets (A+B-C-D) - ^ 7.57 - ^ (1.54) - ^ 15.07 - ^ 52.04 Summarised statement of profit and loss Revenue (A) - ^ - - ^ 0.07 - ^ 3.47 - ^ 0.59 Depreciation and amortization - ^ 0.00* - ^ 0.00* - ^ - - ^ 0.82
|748| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars Andromeda Hotels Limited Whistling Thrush Facilities Services Limited Starlit Resort Limited Apollo Lavasa Health Corporation Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Finance cost - ^ 0.06 - ^ 0.22 - ^ 0.00* - ^ 1.69 Other expenses - ^ 0.01 - ^ 0.14 - ^ 3.42 - ^ 1.86 Total expenses (B) - ^ 0.07 - ^ 0.36 - ^ 3.42 - ^ 4.37 Profit before tax (C=A-B) - ^ (0.07) - ^ (0.29) - ^ 0.05 - ^ (3.78) Tax expense (D) - ^ - - ^ - - ^ - - ^ - Profit for the year (E=C-D) - ^ (0.07) - ^ (0.29) - ^ 0.05 - ^ (3.78) Other comprehensive income (F) - ^ - - ^ - - ^ - - ^ - Total comprehensive income (G= E+F) - ^ (0.07) - ^ (0.29) - ^ 0.05 - ^ (3.78) ` crore Particulars Spotless Laundry Limited Ecomotel Hotel Limited Bona Sera Hotels Services Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Summarised balance sheet Cash and cash equivalents - ^ 0.01 - ^ 0.18 - ^ 0.00* Other assets - ^ 0.06 - ^ 1.62 - ^ 7.10 Current Assets (A) - ^ 0.07 - ^ 1.80 - ^ 7.10 Non-Current Assets (B) 8.46 15.46 7.43 Financial liabilities (excluding trade and other payable and provision) - ^ 28.41 - ^ 5.70 - ^ 0.00* Other liabilies - ^ 2.27 - ^ 4.58 - ^ 14.34 Current liabilities (C) - ^ 30.68 - ^ 10.28 - ^ 14.34 Financial liabilities (excluding trade and other payable and provision) - ^ - - ^ - - ^ 0.00* Other liabiliies - ^ - - ^ 0.07 - ^ 0.19 Non-current liabilities (D) - ^ - - ^ 0.07 - ^ 0.19 Net assets (A+B-C-D) - ^ (22.15) - ^ 6.91 - ^ (0.00)* Summarised statement of profit and loss Revenue (A) - ^ 0.07 - ^ 11.28 - ^ 12.03 Depreciation and amortization - ^ 1.46 - ^ 1.59 - ^ 0.86 Finance cost - ^ 3.61 - ^ 1.99 - ^ 0.69 Other expenses - ^ 3.43 - ^ 10.06 - ^ 10.03 Total expenses (B) - ^ 8.50 - ^ 13.64 - ^ 11.58 Profit before tax (C=A-B) - ^ (8.43) - ^ (2.36) - ^ 0.45
|749| Chap. 30 – Ind AS 112 – Interest in other entities Particulars Spotless Laundry Limited Ecomotel Hotel Limited Bona Sera Hotels Services Limited March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Tax expense (D) - ^ - - ^ - - ^ 0.16 Profit for the year( E=C-D) - ^ (8.43) - ^ (2.36) - ^ 0.29 Other comprehensive income (F) - ^ - - ^ 0.03 - ^ - Total comprehensive income (G= E+F) - ^ (8.43) - ^ (2.33) - ^ 0.29 ^Refer note 49.1(i) 5. OIL AND NATURAL GAS CORPORATION LIMITED Disclosures 4. The consolidated financial statements represents consolidation of accounts of “Oil and Natural Gas Corporation Limited”, its subsidiaries, Joint venture entities and Associates as detailed below: S. No. Name of the Company Country of Incorporation Proportion of ownership interest as at Status of Audit as on 31.03.2019 March 31, 2019 March 31, 2018 A Subsidiaries 1 ONGC Videsh Limited (OVL) India 100% 100% Audited 1.1 ONGC Nile Ganga B.V. The Netherlands Class A : 100% Class B : 100% Class C : 55% Class A : 100% Class B : 100% Class C : 55% Audited 1.1 (i) ONGC Campos Ltda. Brazil 100% 100% Audited 1.1 (ii) ONGC Nile Ganga (Cyprus) Ltd. (liquidated w.e.f. July 12, 2017) Cyprus NA NA NA 1.1 (iii) ONGC Nile Ganga (San Cristobal) B.V. The Netherlands 100% 100% Audited 1.1 (iv) ONGC Caspian E&P B.V. The Netherlands 100% 100% Audited 1.2 ONGC Narmada Limited Nigeria 100% 100% Unaudited 1.3 ONGC Amazon Alaknanda Limited Bermuda 100% 100% Audited 1.4 Imperial Energy Limited Cyprus 100% 100% Audited 1.4 (i) Imperial Energy Tomsk Limited Cyprus 100% 100% Audited 1.4 (ii) Imperial Energy (Cyprus) Limited Cyprus 100% 100% Audited 1.4 (iii) Imperial Energy Nord Limited Cyprus 100% 100% Audited 1.4 (iv) Biancus Holdings Limited Cyprus 100% 100% Audited 1.4 (v) Redcliffe Holdings Limited Cyprus 100% 100% Audited
|750| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts S. No. Name of the Company Country of Incorporation Proportion of ownership interest as at Status of Audit as on 31.03.2019 March 31, 2019 March 31, 2018 1.4 (vi) Imperial Frac Services (Cyprus) Limited Cyprus 100% 100% Audited 1.4 (vii) San Agio Investments Limited Cyprus 100% 100% Audited 1.4 (viii) LLC Sibinterneft Russia 55.90% 55.90% Audited 1.4 (ix) LLC Allianceneftegaz Russia 100% 100% Audited 1.4 (x) LLC Nord Imperial Russia 100% 100% Audited 1.4 (xi) LLC Rus Imperial Group Russia 100% 100% Audited 1.4 (xii) LLC Imperial Frac Services* Russia 100% 100% Audited 1.5 Carabobo One AB Sweden 100% 100% Audited 1.5 (i) Petro Carabobo Ganga B.V. The Netherlands 100% 100% Audited 1.6 ONGC (BTC) Limited Cayman Islands 100% 100% Unaudited 1.7 Beas Rovuma Energy Mozambique Ltd. Mauritius 60% 60% Audited 1.8 ONGC Videsh Rovuma Ltd. (OVRL) Mauritius 100% 100% Audited 1.9 ONGC Videsh Atlantic Inc. (OVAI) Texas 100% 100% Audited 1.10 ONGC Videsh Singapore Pte Ltd. Singapore 100% 100% Audited 1.10 (i) ONGC Videsh Vankorneft Pte Ltd. Singapore 100% 100% Audited 1.11 Indus East Mediterranean Exploration Ltd. Israel 100% 100% Unaudited 2 Mangalore Refinery and Petrochemicals Ltd. (MRPL)@@@ India 80.29% 80.29% Audited 3 Hindustan Petroleum Corporation Ltd (HPCL)** India 51.11% 51.11% Audited 3.1 Prize Petroleum Company Ltd$ India 100% 100% Audited 3.1.1 Prize Petroleum International PTE Ltd. India 100% 100% Audited 3.2 HPCL Bio Fuels Ltd. India 100% 100% Audited 3.3 HPCL Middle East FZCO$$ Dubai 100% 100% Audited 4 ONGC Mangalore Petrochemicals Ltd. (OMPL)@@@ India 89.95% 89.95% Audited 5 Petronet MHB Ltd (PMHBL)*** India 49.44% 49.44% Audited
|751| Chap. 30 – Ind AS 112 – Interest in other entities S. No. Name of the Company Country of Incorporation Proportion of ownership interest as at Status of Audit as on 31.03.2019 March 31, 2019 March 31, 2018 B Joint Ventures 1 Mangalore SEZ Ltd (MSEZ) India 26.86% 26.86% Audited 2 ONGC Petro additions Ltd. (OPaL) India 49.36% 49.36% Audited 3 ONGC Tripura Power Company Ltd. (OTPC) India 50.00% 50.00% Audited 4 ONGC Teri Biotech Ltd. (OTBL) India 49.98% 49.98% Audited 5 Dahej SEZ Limited (DSEZ) India 50.00% 50.00% Unaudited 6 Indradhanush Gas Grid Ltd (IGGL) India 20.00% - Audited 7 ONGC Mittal Energy Limited (OMEL) (through OVL) Cyprus 49.98% 49.98% Unaudited 8 SUDD Petroleum Operating Company(through OVL) Mauritius 24.13% 24.13% Unaudited 9 Mansarovar Energy Colombia Ltd. (through OVL) Colombia 50.00% 50.00% Audited 10 Himalaya Energy Syria BV(through OVL) Netherlands 50.00% 50.00% Audited 11 Shell MRPL Aviation Fuels & Services Limited (SMASL) (through MRPL) India 50.00% 50.00% Audited 12 North East Transmission Company Ltd. (NETC) (through OTPC) India 13.00% 13.00% Audited 13 Mangalore STP Limited (through MSEZ) India 18.80% 18.80% Audited 14 MSEZ Power Ltd (through MSEZ) India 26.86% 26.86% Audited 15 Adani Petronet Dahej Port Pvt Ltd (APPPL) (through PLL) India 3.25% 3.25% Audited 16 India LNG Transport Co Pvt. Ltd (through PLL) India 3.25% 3.25% Audited 17 HPCL Rajasthan refinery Ltd. (through HPCL) India 74.00% 74.00% Audited 18 HPCL Mittal Energy Ltd. (through HPCL) India 48.99% 48.99% Audited 19 Hindustan Colas Pvt. Ltd. (through HPCL) India 50.00% 50.00% Audited 20 South Asia LPG Co. Private Ltd. (through HPCL) India 50.00% 50.00% Audited 21 Bhagyanagar Gas Ltd. (through HPCL)@@ India 24.99% 24.99% Audited 22 Godavari Gas Pvt Ltd. (through HPCL) India 26.00% 26.00% Audited
|752| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts S. No. Name of the Company Country of Incorporation Proportion of ownership interest as at Status of Audit as on 31.03.2019 March 31, 2019 March 31, 2018 23 Petronet India Ltd. (through HPCL)@ India 16.00% 16.00% Unaudited 24 Aavantika Gas Ltd. (through HPCL) India 49.99% 49.98% Audited 25 Ratnagiri Refinery & Petrochemical Ltd. (through HPCL) India 25.00% 25.00% Audited 26 HPCL Shapoorji Energy Pvt. Ltd. (through HPCL) India 50.00% 50.00% Audited 27 Mumbai Aviation Fuel Farm Facility Pvt Ltd. (through HPCL) India 25.00% 25.00% Audited 28 HPOIL Gas Pvt Ltd (through HPCL) $$$ India 50.00% - Audited C Associates 1 Pawan Hans Ltd. (PHL) India 49.00% 49.00% Unaudited 2 Petronet LNG Limited (PLL) India 12.50% 12.50% Audited 3 JSC Vankorneft (through OVL) Russia 26.00% 26.00% Audited 4 Tamba BV (through OVL) Netherland 27.00% 27.00% Audited 5 South East Asia Gas Pipeline Company Limited (through OVL) Hong Kong 8.35% 8.35% Audited 6 Petrolera Indovenezolana SA (through OVL) Venezuela 40.00% 40.00% Audited 7 Petro Carabobo SA (through OVL) Venezuela 11.00% 11.00% Audited 8 Carabobo Ingenieria Y Construcciones, S.A (through OVL) Venezuela 37.93% 37.93% Audited 9 Mozambiquae LNG I Co PTE Ltd. (through OVL) Singapore 16.00% 16.00% Unaudited 10 Falcon Oil & Gas B.V. (through OVL) Netherlands 40.00% 40.00% Audited 11 GSPL India Gasnet Ltd.(through HPCL) India 11.00% 11.00% Audited 12 GSPL India Transco Ltd. (through HPCL) India 11.00% 11.00% Audited * As at February 16, 2018 other shareholder has surrendered own shares to the Company LLC Imperial Frac Service. As of March 31, 2019, Imperial Frac Services (Cyprus) Limited continues to hold 50% of the shares in LLC Imperial Frac Service. ** During the previous year 2017-18, the company had acquired 51.11% shareholding held by the President of India (778,845,375 equity shares of face value ` 10 per share) in Hindustan Petroleum Corporation Limited (HPCL), at ` 473.97 per share for a total cash consideration of ` 369,150.00 million. By virtue of
|753| Chap. 30 – Ind AS 112 – Interest in other entities this investment, HPCL had become a subsidiary of the Company. The acquisition being a common control transaction has been accounted as stated at note 3.4 of significant group accounting policies. *** Pursuant to acquisition of HPCL, effective ownership interest in Petronet MHB Limited (joint venture) has been increased up to 65.44% and accordingly PMHBL has been reclassified from a joint venture to a subsidiary. $ Prize Petroleum Company Limited has wholly owned subsidiary namely Prize Petroleum International PTE Limited. HPCL – Mittal Energy Limited has a 100% subsidiary namely HPCL – Mittal Pipelines Limited. $$HPCL Middle East FZCO, a 100% Subsidiary of HPCL was incorporated as a Free Zone Company under Dubai Airport Free Zone for Trading in Lubricants & Grease, Petrochemicals and Refined Oil Products in Middle East and Africa. $$$HPOIL Gas Pvt. Ltd. was incorporated on 30th November 2018 with Oil India Ltd. (OIL) and Hindustan Petroleum Corporation Ltd (HPCL) holding equity in the ratio 50%: 50%. @ Petronet India Ltd. in which HPCL holds 16% stake has commenced voluntary winding up on 30th August 2018. @@ As of 31st March 2014, paid up equity capital of BGL was ` 0.05 million, in which HPCL and GAIL were holding 24.99% each. Balance 50.02% of shares were held by Kakinada Seaports Ltd (KSPL) on warehousing basis. In addition, each one of HPCL and GAIL had paid `2 24.90 million as Advance against Equity / Share application money (totaling to ` 449.80 million) in earlier years. On 20th August 2014, BGL allotted 22,487,500 shares on preferential basis to each of HPCL and GAIL towards the money paid earlier. Meanwhile there are certain issues pending adjudication with another shareholder. Accordingly, keeping in view financial prudence, HPCL’s share has been considered at 24.99% (considered as 24.99% in F.Y. 2017-18). @@@ Increase in effective holding due to acquisition of HPCL by ONGC wherein HPCL holds 16.96% in MRPL. Ujjwala Plus Foundation, a joint venture of Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) with fund contribution in the ratio 50%: 25%: 25%, respectively was incorporated on 21st July, 2017 as a not-for-profit Private Company Limited by Guarantee (without Share Capital) under Section 8 of the Companies Act 2013. Ujjwala Plus Foundation has not been considered for consolidation being a not-for-profit company. 13. Investment (` in million) Particulars As at March 31, 2019 As at March 31, 2018 13.1 Investment in Joint Ventures and Associates (i) Associates 225,010.80 230,623.74 (ii) Joint Ventures 105,502.53 92,063.91 Sub-Total 330,513.33 322,687.65 13.2 Other Investments (i) Investment in Other Equity Instruments (Refer note 13.2.(i)) 260,586.17 277,694.14 (ii) Investment in securities (Refer note 13.2.(ii)) 27,057.79 22,960.74 (iii) Investment in Compulsorily Convertible Preference Share (Refer note 13.2.(iii)) 116.72 9.74 Sub-Total 287,760.68 300,664.62 Total investments 618,274.01 623,352.27
|754| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 13.1 Investment in Joint Ventures and Associates (` in million) Particulars As at March 31, 2019 As at March 31, 2018 No. (in million) Amount No. (in million) Amount Investment in Equity instruments (i) Associates (Refer note 13.1.9) (a) Pawan Hans Limited (Unquoted – Fully paid up) (Face Value ` 10,000 per share) (Refer note 13.1.5) 0.27 5,106.45 0.27 5,385.51 (b) Petronet LNG Limited (Quoted – Fully paid up) (Face Value ` 10 per share) 187.50 12,788.23 187.50 12,264.12 (c) Petro Carabobo S.A (Unquoted– Fully paid up) (Face Value Bolivar 10 per share) 1.13 7,331.02 0.01 4,204.68 (d) Carabobo Ingenieria Y Construcciones, S.A (Unquoted– Fully paid up) *** (Face Value Boliver 1 per share) 0.00 0.29 0.00 0.27 (e) Petrolera Indovenezolana SA (Unquoted– Fully paid up) (Face Value $ 4.65 per share) 0.04 28,749.77 0.04 26,578.48 (f) South East Asia Gas Pipeline Ltd (Unquoted– Fully paid up) (Face Value $ 1 per share) 0.02 1,140.17 0.02 1,009.21 (g) Tamba BV (Unquoted– Fully paid up) ***(Face Value Euro 10 per share) 0.00 8,805.72 0.00 23,271.09 (h) JSC Vankorneft, Russia (Unquoted– Fully paid up) (Face Value Rouble 1 per share) 3.09 141,362.84 3.09 141,187.63 (i) Mozambiqiue LNGI (Unquoted– Fully paid up) (Face Value $ 1000 per share) *** 0.00 29.94 0.00 - (j) Falcon Oil & Gas BV (Unquoted– Fully paid up) (Face Value $ 1 per share) *** 0.00 18,784.00 0.00 15,863.30 (k) GSPL India Transco Ltd (Unquoted – Fully paid up) (Face Value ` 10 per share) 41.91 427.68 41.91 426.59 (l) GSPL India Gasnet Ltd (Unquoted – Fully paid up) (Face Value ` 10 per share) 50.82 484.69 42.57 432.86 Total Investments in Associates 225,010.80 230,623.74 (` in million) Particulars As at March 31, 2019 As at March 31, 2018 No. (in million) Amount No. (in million) Amount (ii) Joint Ventures (Refer Note 13.1.10) (a) Mangalore SEZ Limited (Unquoted – Fully paid up) (Face Value ` 10 per share) 13.48 203.23 13.48 190.26 (b) ONGC Petro Additions Limited (Unquoted – Fully paid up) (Face Value ` 10 per share) (Refer note 13.1.3 & 13.1.4) 997.98 11,210.13 997.96 9,302.47 (c) ONGC Teri Biotech Limited (Unquoted– Fully paid up) (Face Value ` 10 per share) 0.02 274.73 0.02 241.45
|755| Chap. 30 – Ind AS 112 – Interest in other entities Particulars As at March 31, 2019 As at March 31, 2018 No. (in million) Amount No. (in million) Amount (d) ONGC Tripura Power Company Limited (Unquoted – Fully paid up) (Face Value ` 10 per share) 560.00 6,667.10 560.00 6,407.32 (e) Dahej SEZ Limited (Unquoted– Fully paid up) (Face Value ` 10 per share) 23.02 1,172.29 23.02 1,318.86 (f) Indradhanush Gas Grid Limited (Unquoted– Fully paid up) (Face Value ` 10 per share)(Refer note 13.1.2) 5.00 25.76 - - (g) Shell MRPL Aviation Fuels and Services Limited (Unquoted–Fully paid up) (Face Value ` 10 per share) 15.00 282.50 15.00 301.18 (h) ONGC Mittal Energy Limited (Unquoted– Fully paid up) (Face Value $ 1 per share) 24.99 1,729.56 24.99 1,622.35 (i) Mansarovar Energy Colombia Limited (Unquoted– Fully paid up) (Face Value $ 1 per share) 0.01 18,661.68 0.01 21,401.35 (j) Himalaya Energy Syria BV (Unquoted– Fully paid up) (Face Value Euro 1 per share) 0.05 216.74 0.05 261.80 (k) HPCL-Mittal Energy Limited (Unquoted– Fully paid up) (Face Value ` 10 per share) 3,939.56 51,526.21 3,939.56 45,172.99 (l) Hindustan Colas Pvt. Ltd. (Unquoted– Fully paid up) (Face Value ` 10 per share) 4.73 1,485.34 4.73 1,248.85 (m) HPCL Rajasthan Refinery Ltd. (Unquoted– Fully paid up) (Face Value ` 10 per share) (refer note 13.1.7) 890.41 8,800.53 188.74 1,729.10 (n) Petronet India Ltd. (Unquoted– Fully paid up) (Face Value ` 0.10 per share) (refer note 13.1.8) 16.00 4.19 16.00 4.36 (o) South Asia LPG Co. Pvt. Ltd. (Unquoted– Fully paid up) (Face Value ` 10 per share) 50.00 1,251.70 50.00 1,278.56 (p) Bhagyanagar Gas Ltd. (Unquoted– Fully paid up) (Face Value ` 10 per share) 43.65 1,455.63 43.65 1,407.66 (q) Aavantika Gas Ltd. (Unquoted– Fully paid up) (Face Value ` 10 per share) 29.56 980.10 29.55 850.07 (r) HPCL Shapoorji Energy Pvt. Ltd. (Unquoted– Fully paid up) (Face Value ` 10 per share) 24.00 227.07 20.00 188.22 (s) Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (Unquoted– Fully paid up) (Face Value ` 10 per share) 48.29 770.22 41.89 533.16 (t) Ratnagiri Refinery & Petrochemical Limited. (Unquoted – Fully paid up) (Face Value ` 10 per share) 25.00 162.71 25.00 202.98 (u) Godavari Gas Pvt. Ltd. (Unquoted– Fully paid up) (Face Value ` 10 per share) 8.19 76.99 2.60 23.27 (v) HPOIL Gas Pvt. Ltd. (Unquoted– Fully paid up) (Face Value ` 10 per share) 5.00 47.68 - -
|756| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars As at March 31, 2019 As at March 31, 2018 No. (in million) Amount No. (in million) Amount (w) Sudd Petroleum Operating Company*** (Unquoted– Fully paid up) (Face Value $ 1 per share) 0.00 - 0.00 - Less: Aggregate amount of impairment (1,729.56) (1,622.35) Total Investment in Joint ventures 105,502.53 92,063.91 Total Investment in Joint Ventures and Associates 330,513.33 322,687.65 *** Number of shares Particulars Year ended March 31, 2019 Year ened March, 31 2018 No. of Shares No. of Shares Tamba B.V. 1620 1620 Carabobo Ingenieria y Construcciones, S.A. 275 275 Mozambique LNGI Co. Pte. Ltd. 500 500 Falcon Oil & Gas BV 40 40 Sudd Petroleum Operating Company 241.25 241.25 13.1.1 The Company is restrained from diluting the investment in the respective companies till the sponsored loans are fully repaid as per the covenants in the respective loan agreements of the respective companies. 13.1.2 During the year, the company has subscribed 5,000,000 nos. equity share of Indradhanush Gas Grid Ltd. (IGGL), a Joint Venture company, having face value of ` 10 per share. 13.1.3 During the year the Company has acquired 24,993 nos. of equity shares of ONGC Petro additions Ltd (OPaL) at the face value from other individual shareholders of the Company. 13.1.4 During the year, the Company has subscribed to additional 636,000,000 nos. Share Warrants of ONGC Petro additions Limited, entitling the Company to exchange each warrant with Equity Share of Face Value of ` 10/- each after a balance payment of ` 0.25 for each share within thirty six months issued on December 12, 2018. During 2015-16, the Company had subscribed to 1,922,000,000 Share Warrants of ONGC Petro additions Limited, entitling the Company to exchange each warrant with Equity Share of Face Value of ` 10/- each after a balance payment of ` 0.25 per equity share within forty eight months of subscription of the Share warrants issued on August 25, 2015. The Company had entered into an arrangement for backstopping support towards repayment of principal and cumulative coupon amount for compulsorily convertible debentures amounting to ` 77,780.00 million (Previous year ` 77,780.00 million) issued by ONGC Petro Additions Limited and interest accrued for the year ending March 31, 2019 amounting to ` 5,117.73 million (Previous year ` 4,670.19 million). 13.1.5 During the year, the Company has exercised option to exit Pawan Hans Limited by offloading entire 49% stake holdings of the Company as a preferred option, along with the strategic sale proposal being perused by the Government of India. As at March 31, 2019, the proposed strategic sale transaction is yet to be consummated as the buyer has not been identified. In view of the uncertainty in the completion of the transaction, the investment in Pawan Hans Limited has not been classified as Non-current Asset Held for Sale and accordingly the Company continues to classify Pawan Hans Limited as an Associate Company.
|757| Chap. 30 – Ind AS 112 – Interest in other entities 13.1.6 Movement of Impairment in value of equity accounted joint venture (` in million) Particulars Year ended March 31, 2019 Year ended March 31, 2018 Balance at beginning of the year 1,622.35 1,620.60 Effect of exchange differences (refer note 13.1.6.1) 107.21 1.75 Balance at end of the year 1,729.56 1,622.35 13.1.6.1 Group’s subsidiary ONGC Videsh Limited has determined its functional currency as US$. Above foreign exchange difference represents differences on account of translation of the consolidated financial statements of the ONGC Videsh Limited from US$ to Group’s presentation currency “`”. Refer note 3.21 and 5.1 (a). In respect of Subsidiary HPCL, 13.1.7 As per the guidelines issued by Department of Public Enterprises (DPE) in August, 2005, the Board of Directors of Navratna Public Sector Enterprises (PSEs) can invest in joint ventures and wholly owned subsidiaries subject to an overall ceiling of 30% of the net worth of the PSE. The company has requested Ministry of Petroleum & Natural Gas (MOP&NG) to confirm its understanding that for calculating this ceiling limit, the amount of investments specifically approved by Government of India (i.e. investment in HPCL Mittal Energy Ltd (HMEL) and HPCL Rajasthan Refinery Limited (HRRL) ) are to be excluded. The Company has calculated the limit of 30% investment in joint ventures and wholly owned subsidiaries, by excluding the investments specifically approved by Government of India. As per financial position as on 31st March 2019, the investments in joint ventures and wholly owned subsidiaries are well within 30% limit. 13.1.8 Petronet India Ltd. is in the process of voluntary winding up w.e.f. August 30,2018. 13.1.9 Details of Associates Name of associate Principal activity Place of incorporation and principal place of business Proportion of ownership interest/ voting rights held by the Company As at March 31, 2019 As at March 31, 2018 (i) Pawan Hans Limited Helicopter services India 49.00% 49.00% (ii) Petronet LNG Limited Liquefied Natural Gas supply India 12.50% 12.50% (iii) Caraboto Ingenieria Y construcciones, S.A Service provider Venezuela 37.93% 37.93% (iv) Petrolera Indovenezolana S.A. Exploration and Production of hydrocarbons Venezuela 40.00% 40.00% (v) South- East Asia Gas Pipeline Company Limited Exploration and Production of hydrocarbons Incorporated in Hong Kong, operations in Myanmar 8.35% 8.35% (vi) Tamba BV Equipment Lease Incorporated in Netherland for BC-10 Project, Brazil 27.00% 27.00%
|758| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Name of associate Principal activity Place of incorporation and principal place of business Proportion of ownership interest/ voting rights held by the Company As at March 31, 2019 As at March 31, 2018 (vii) Petro Carabobo S.A. Exploration and Production of hydrocarbons Venezuela 11.00% 11.00% (viii) JSC Vankorneft Exploration and Production of hydrocarbons Russia 26.00% 26.00% (ix) Mozambiqiue LNG I Company Pte Ltd. Marketing and shipping of liquefied natural gas Incorporated in Singapore having operations in Mozambique 16.00% 16.00% (x) GSPL India Transco Ltd (through HPCL) Design, construct, develop and operate gas pipeline India 11.00% 11.00% (xi) GSPL India Gasnet Ltd. (through HPCL) Design, construct, develop and operate gas pipeline India 11.00% 11.00% (xii) Falcon Oil & Gas BV Exploration and Production of hydrocarbons Incorporated in Netherlands, operations in Abu Dhabi 40.00% 40.00% a) During the year 2017-18, the company had subscribed for additional 152,816 nos. equity shares amounting to ` 1,528.16 million during the year in Pawan Hans Limited and the company continues to holds 49% ownership interest. 13.1.10 Details and financial information of Joint Ventures Name of joint venture Principal activity Place of incorporation and principal place of business Proportion of ownership interest/ voting rights held by the Company As at March 31, 2019 As at March 31, 2018 Mangalore SEZ Limited Special Economic Zone India 26.86% 26.86% Sudd Petroleum Operating Company Exploration and Production of hydrocarbons Incorporated in Mauritius having operations in South Sudan 24.13% 24.13% ONGC Petro Additions Limited Petrochemicals India 49.36% 49.36% ONGC Teri Biotech Limited Bioremediation India 49.98% 49.98% ONGC Tripura Power Company Limited Power Generation India 50.00% 50.00% Dahej SEZ Limited Special Economic Zone India 50.00% 50.00%
|759| Chap. 30 – Ind AS 112 – Interest in other entities Name of joint venture Principal activity Place of incorporation and principal place of business Proportion of ownership interest/ voting rights held by the Company As at March 31, 2019 As at March 31, 2018 Indradhanush Gas Grid Limited (refer note 13.1.2) Pipeline India 20.00% - Shell MRPL Aviation Fuels and Services Limited Trading of aviation fuels India 50.00% 50.00% ONGC Mittal Energy Limited Exploration and Production of hydrocarbons Incorporated in Cyprus having operations in Syria and Nigeria 49.98% 49.98% Mansarovar Energy Colombia Limited Exploration and Production of hydrocarbons Colombia 50% 50% Himalaya Energy Syria BV Exploration and Production of hydrocarbons Incorporated in The Netherlands, having operations in Syria 50% 50% HPCL Rajasthan refinery Ltd. (through HPCL) Refinery India 74.00% 74.00% HPCL Mittal Energy Ltd. (through HPCL) Refining of crude oil and manufacturing of petroleum products. India 48.99% 48.99% Hindustan Colas Pvt. Ltd. (through HPCL) Manufacture and marketing of Bitumen Emulsions & Modified Bitumen. India 50.00% 50.00% South Asia LPG Co. Private Ltd. (through HPCL) Storage of LPG in underground cavern and associated receiving and dispatch facilities at Visakhapatnam. India 50.00% 50.00% Bhagyanagar Gas Ltd. (through HPCL) Distribution and marketing of CNG and Auto LPG in the state of Andhra Pradesh/ Telangana India 24.99% 24.99% Godavari Gas Pvt Ltd. (through HPCL) Distribution and marketing of CNG in East Godavari and West Godavari Districts of Andhra Pradesh India 26.00% 26.00% Petronet India Ltd. (through HPCL) (refer to note 13.1.7) To act as nodal agency for developing identified and prioritized petroleum product pipelines in the country. The company is in the process of closure India 16.00% 16.00%
|760| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Name of joint venture Principal activity Place of incorporation and principal place of business Proportion of ownership interest/ voting rights held by the Company As at March 31, 2019 As at March 31, 2018 Aavantika Gas Ltd. (through HPCL) Distribution and marketing of CNG in the state of Madhya Pradesh. India 49.99% 49.98% Ratnagiri Refinery & Petrochemical Ltd. (through HPCL) To set up a refinery and petrochemical complex of 60 MMTPA (Approx..) along the west coast of India in the State of Maharashtra India 25.00% 25.00% HPCL Shapoorji Energy Pvt. Ltd. (through HPCL) To set up and operate an LNG Re-gasification Terminal at the greenfield port at Chhara (Gujarat) India 50.00% 50.00% Mumbai Aviation Fuel Farm Facility Pvt Ltd. (through HPCL) To design, develop, construct and operate the aviation fuel facility at Chhatrapati Shivaji International Airport, Mumbai India 25.00% 25.00% HPOIL Gas Pvt Ltd (through HPCL) To develop City Gas Distribution network in Ambala and Kurukshetra in the state of Haryana and Kolhapur in the state of Maharashtra. India 50.00% - a) Summarized financial information of Group’s Joint Ventures: Summarized financial information in respect of each of the Group’s joint venture is set out below. The summarized financial information below represents amounts shown in the joint venture’s financial statements prepared in accordance with Ind ASs adjusted by the Group for equity accounting purpose. (` in million) Particulars MSEZ OPaL IGGL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Non-current assets 14,587.22 14,900.42 284,017.32 282,938.25 9.56 - Current assets 2,758.44 2,546.12 20,466.35 21,684.19 203.80 - Non-current liabilities 15,348.63 15,371.19 179,245.02 197,304.07 - - Current liabilities 1,240.46 1,367.08 58,470.59 101,180.76 84.59 - The above amounts of assets and liabilities includes the following: Cash and cash equivalents 180.16 83.96 154.50 113.79 41.63 - Current financials liabilities (Excluding trade payables and provisions) 609.73 834.96 48,139.14 92,410.25 67.47 -
|761| Chap. 30 – Ind AS 112 – Interest in other entities Particulars MSEZ OPaL IGGL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Non-current financials liabilities (Excluding trade payables and provisions) 5,506.29 5,632.18 179,240.87 197,176.27 - - Revenue 2,068.09 1,742.31 97,387.20 55,918.21 - - Profit or (loss) from continuing operations 24.12 36.57 (14,203.00) (22,195.56) (121.22) - Post-tax profit (loss) from discontinued operations - - - - - - Other comprehensive income (0.21) 0.13 6.65 3.61 - - Total comprehensive income 23.91 36.70 (14,196.35) (22,191.95) (121.22) - The above profit (loss) for the year include the following: Depreciation and amortisation 449.74 414.60 11,987.06 11,522.89 0.01 - Interest income 16.30 14.06 115.49 33.57 5.77 - Interest expense 473.62 509.03 18,409.76 21,522.19 - - Income tax expense or income (14.31) 72.60 (7,520.62) (7,254.19) - - Reconciliation of the above summarized financial information to the carrying amount of the interest in JVs recognized in the consolidated financial statements: (` in million) Particulars MSEZ OPaL IGGL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Net assets of the joint venture 756.56 708.27 66,768.06 6,137.61 128.78 - Equity Portion of Compulsorily convertible debentures - - (65,550.31) - - - Net assets of the joint venture attributable to group 756.56 708.27 1,217.75 6,137.61 128.78 - Proportion of the Group's ownership interest in JVs (%) 26.86% 26.86% 49.36% 49.36% 20% - Proportion of the Group's ownership interest in JVs (INR) 203.23 190.26 601.06 3,029.33 25.76 -
|762| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars MSEZ OPaL IGGL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Add: Additional subscription of share warrant - - 12,630.41 9,490.32 - - Less: Unrealised profit - - (2,021.34) (3,217.17) - - Group's share in net assets of the joint venture 203.23 190.26 11,210.13 9,302.47 25.76 - Carrying amount of the Group's interest in JVs 203.23 190.26 11,210.13 9,302.47 25.76 - (` in million) Particulars DSL OTPC OTBL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Non-current assets 6,898.15 7,754.22 31,351.99 32,992.64 22.49 22.66 Current assets 3,302.94 3,157.89 5,730.08 6,076.34 598.25 488.36 Non-current liabilities 6,682.75 6,604.58 19,447.97 21,828.01 1.18 0.95 Current liabilities 1,173.76 1,669.84 4,299.90 4,426.32 69.89 26.97 The above amounts of assets and liabilities includes the following: Cash and cash equivalents 2,531.38 2,545.71 1.72 364.92 2.70 0.42 Current financials liabilities (Excluding trade payables and provisions) 483.54 - 3,751.38 3,963.56 - - Non-current financials liabilities (Excluding trade payables and provisions) - 6,604.58 18,370.45 20,526.16 - - (` in million) Particulars DSL OTPC OTBL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Revenue 578.03 541.20 14,099.74 12,515.67 215.60 177.88 Profit or (loss) from continuing operations 327.66 369.65 2,139.38 1,426.54 66.59 80.92 Post-tax profit (loss) from discontinued operations - - - - - - Other comprehensive income - - 0.44 (1.70) (0.02) (0.08) Total comprehensive income 327.66 369.65 2,139.82 1,424.84 66.57 80.84 The above profit (loss) for the year include the following:
|763| Chap. 30 – Ind AS 112 – Interest in other entities Particulars DSL OTPC OTBL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Depreciation and amortisation 178.56 126.31 1,949.22 1,936.32 0.55 0.65 Interest income 180.56 171.98 207.08 129.15 27.97 26.19 Interest expense 43.07 35.98 1,733.15 2,030.49 - - Income tax expense or income 101.41 100.29 393.86 991.94 27.24 33.54 Reconciliation of the above summarised financial information to the carrying amount of the interest in JVs recognised in the consolidated financial statements: Particulars DSL OTPC OTBL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Net assets of the joint venture 2,344.58 2,637.68 13,334.20 12,814.64 549.67 483.10 Proportion of the Group's ownership interest in JVs (%) 50.00% 50.00% 50.00% 50.00% 49.98% 49.98% Proportion of the Group's ownership interest in JVs (INR) 1,172.29 1,318.86 6,667.10 6,407.32 274.73 241.45 Add: Additional advance against equity - - - - - - Group's share in net assets of the joint venture 1,172.29 1,318.86 6,667.10 6,407.32 274.73 241.45 Carrying amount of the Group's interest in JVs 1,172.29 1,318.86 6,667.10 6,407.32 274.73 241.45 b) Summarized financial information of Group’s associates: Summarized financial information in respect of each of the Group’s associates is set out below. The summarized financial information below represents amounts shown in the associates’ financial statements prepared in accordance with Ind ASs adjusted by the Group for equity accounting purpose. (` in million) Particulars PLL PHL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Non-current assets 92,875.41 87,267.62 8,773.94 9,080.12 Current assets 59,618.00 70,177.79 5,530.27 6,484.93 Non-current liabilities 25,344.00 30,730.22 2,363.93 2,744.40 Current liabilities 24,843.61 28,602.28 1,518.96 1,829.86
|764| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (` in million) Particulars PLL PHL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Revenue 383,954.30 305,986.24 3,804.08 3,917.24 Profit or (loss) from continuing operations 22,305.60 21,104.39 (724.17) 87.71 Post-tax profit (loss) from discontinued operations - - - - Other comprehensive income (20.30) 5.24 - 3.82 Total comprehensive income 22,285.30 21,109.63 (724.17) 91.53 Reconciliation of the above summarised financial information to the carrying amount of the interest in associates recognised in the consolidated financial statements: (` in million) Particulars PLL PHL As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Net assets of the associates 102,305.80 98,112.92 10,421.32 10,990.79 Proportion of the Group's ownership interest in associates (%) 12.50% 12.50% 49.00% 49.00% Proportion of the Group's ownership interest in associates (INR) 12,788.23 12,264.12 5,106.45 5,385.51 Group's share in net assets of the associates 12,788.23 12,264.12 5,106.45 5,385.51 Carrying amount of the Group's interest in associates 12,788.23 12,264.12 5,106.45 5,385.51 c) Details of financial position of subsidiary company, MRPL’s Joint ventures: (` in million) Particulars (As at March 31, 2019) Current Assets NonCurrent Assets Current Liabilities Non- Current Liabilities Total Revenue Profit or Loss from continuing operations Profit or Loss from discontinued operations Other Comprehensive Income Total Comprehensive Income Shell MRPL Aviation Fuels and Services Limited 3,084.68 94.82 2,602.38 3.36 7,277.44 15.94 - (0.48) 15.46 Total 3,084.68 94.82 2,602.38 3.36 7,277.44 15.94 - (0.48) 15.46 Particulars (As at March 31, 2018) Current Assets NonCurrent Assets Current Liabilities Non- Current Liabilities Total Revenue Profit or Loss from continuing operations Profit or Loss from discontinued operations Other Comprehensive Income Total Comprehensive Income Shell MRPL Aviation Fuels and Services Limited 2,100.75 104.96 1,596.40 1.81 5,491.94 54.18 - (1.62) 52.56 Total 2,100.75 104.96 1,596.40 1.81 5,491.94 54.18 - (1.62) 52.56
|765| Chap. 30 – Ind AS 112 – Interest in other entities d) Additional Financial information related to Joint venture are as under: (` in million) Particulars (As at March 31, 2019) Cash and Cash Equivalents Current Financial Liabilities Non-Current Financial Liabilities Depreciation and Amortisation Interest Income Interest Expense Income Tax Expense or Income Shell MRPL Aviation Fuels and Services Limited 203.48 2,487.63 - 11.36 43.99 13.68 14.06 Total 203.48 2,487.63 - 11.36 43.99 13.68 14.06 Particulars (As at March 31, 2018) Cash and Cash Equivalents Current Financial Liabilities Non-Current Financial Liabilities Depreciation and Amortisation Interest Income Interest Expense Income Tax Expense or Income Shell MRPL Aviation Fuels and Services Limited 195.74 1,457.25 - 10.44 28.36 3.73 27.16 Total 195.74 1,457.25 - 10.44 28.36 3.73 27.16 e) Details of financial position of subsidiary company OVL’s Joint ventures and associates: (` in million) (i) Mansarovar Energy Colombia Limited As at March 31, 2019 As at March 31, 2018 Non-current assets 38,685.43 50,042.91 Current assets 10,465.89 9,207.74 Non-current liabilities 9,061.84 8,696.75 Current liabilities 4,818.14 4,355.28 The above amounts of assets and liabilities includes the following: Cash and cash equivalents 3,314.42 3,076.82 Current financials liabilities (Excluding trade payables and provisions) 1,741.05 1,490.13 Non-current financials liabilities (Excluding trade payables and provisions) 8,823.09 8,495.52 Mansarovar Energy Colombia Limited For the year ended March 31, 2019 For the year ended March 31, 2018 Revenue 21,973.55 18,308.96 Profit or loss from continuing operations (3,777.86) (64.16) Other comprehensive income for the year - 61.94 Total comprehensive income for the year (3,777.86) (2.22) Dividends received from the joint venture during the year 5,140.85 - The above profit (loss) for the year include the following: Depreciation and amortisation 10,427.04 8,259.21 Interest income 757.70 721.05 Interest expense 5.96 5.38 Income tax expense (income) 2,247.74 (40.23)
|766| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (ii) JSC Vankorneft As at March 31, 2019 As at March 31, 2018 Non-current assets 1,98,485.03 2,51,190.74 Current assets 1,78,293.68 1,33,268.20 Non-current liabilities 25,728.81 31,691.61 Current liabilities 48,440.23 48,227.71 The above amounts of assets and liabilities includes the following: Cash and cash equivalents 0.40 0.20 Current financials liabilities (Excluding trade payables and provisions) 15,042.24 31,037.29 Non-current financials liabilities (Excluding trade payables and provisions) 25,688.17 17,708.83 JSC Vankorneft For the year ended March 31, 2019 For the year ended March 31, 2018 Revenue 4,79,998.26 3,81,507.95 Profit or loss from continuing operations 74,913.22 63,076.13 Other comprehensive income for the year - - Total comprehensive income for the year 74,913.22 63,076.13 Dividends received from the associate during the year 20,082.46 - The above profit (loss) for the year include the following: Depreciation and amortisation 40,153.89 27,068.25 Interest income 4,991.48 4,940.64 Interest expense - - Income tax expense (income) 22,894.47 21,052.96 (iii) Petrolera Indovenezolana SA As at March 31, 2019 As at March 31, 2018 Non-current assets 25,543.07 25,624.46 Current assets 2,39,015.19 2,12,801.84 Non-current liabilities (2,822.86) (318.19) Current liabilities 1,92,892.31 1,81,602.19 The above amounts of assets and liabilities includes the following: Cash and cash equivalents 176.63 468.33 Current financials liabilities (Excluding trade payables and provisions) 24,870.66 23,102.21 Non-current financials liabilities (Excluding trade payables and provisions) (2,822.86) (318.19) Petrolera Indovenezolana SA For the year ended March 31, 2019 For the year ended March 31, 2018 Revenue 18,056.16 17,959.43 Profit or loss from continuing operations 13,714.75 1,678.80
|767| Chap. 30 – Ind AS 112 – Interest in other entities Other comprehensive income for the year - - Total comprehensive income for the year 13,714.75 1,678.80 Dividends received from the associate during the year - - The above profit (loss) for the year include the following: Depreciation and amortisation 5,061.68 6,084.00 Interest income 0.01 0.01 Interest expense - - Income tax expense (income) (2,476.72) 1,267.65 (iv) Tamba BV As at March 31, 2019 As at March 31, 2018 Non-current assets 19,112.06 62,632.61 Current assets 10,581.45 22,047.48 Non-current liabilities 5,666.15 6,222.65 Current liabilities 6,408.98 6,334.18 The above amounts of assets and liabilities includes the following: Cash and cash equivalents 4,728.36 906.15 Current financials liabilities (Excluding trade payables and provisions) 1,851.09 4,246.09 Non-current financials liabilities (Excluding trade payables and provisions) 5,666.15 6,222.65 Tamba BV For the year ended March 31, 2019 For the year ended March 31, 2018 Revenue 11,722.22 18,959.11 Profit or loss from continuing operations 8,716.37 12.982.05 Other comprehensive income for the year - - Total comprehensive income for the year 8,716.37 12,982.05 Dividends received from the associate during the year 18,526.71 29,721.22 The above profit (loss) for the year include the following: Depreciation and amortisation - - Interest income 11,722.22 18,826.94 Interest expense 844.81 5,435.70 Income tax expense (income) 2,457.41 601.77 f) Details of financial position of subsidiary company HPCL’s Joint ventures: (` in million) Particulars HMEL 31.03.2019 31.03.2018 Assets: Non-Current Assets 3,18,962.80 2,62,422.80 Current Assets Cash and Cash equivalents 1,476.00 66.70
|768| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars HMEL 31.03.2019 31.03.2018 Other Current Assets (excluding cash and cash equivalents) 96,925.60 88,622.50 Total (A) 4,17,364.40 3,51,112.00 Liabilities: Non-Current Liabilities Non-Current Financial Liabilities (excluding Trade / Other Payables and Provisions) 2,11,722.14 1,64,843.90 Other Non-Current Liabilities 7,989.26 5,797.60 Current Liabilities Current Financial Liabilities (excluding Trade / Other Payables and Provisions) 27,019.91 32,416.20 Other Current Liabilities 65,461.90 55,850.50 Total (B) 3,12,193.21 2,58,908.20 Net Assets included in Financial Statement of Joint Venture / Associate 1,05,171.19 92,203.90 Ownership Interest 48.99% 48.99% Carrying amount of Interest in Joint Venture/Associate 51,526.01 45,173.00 Quoted Market Value of Shares N.A. N.A. (` in million) Other Information 2018-19 2017-18 Revenue 6,23,780.31 3,99,430.60 Dividend Income - - Interest Income 88.00 78.00 Interest Expenses 13,399.00 11,527.40 Depreciation 12,110.00 11,429.30 Income tax expenses 4,558.94 5,556.20 Profit / Loss for the year 14,245.83 17,066.30 Other Comprehensive Income (Net of Tax) (49.00) (4.40) Total Comprehensive Income for the year 14,196.83 17,061.80 Details of all individually immaterial equity accounted investees of subsidiary company HPCL: (` in million) Particulars Other immaterial Joint Ventures Other immaterial Associates As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 As at March 31, 2018 Carrying amount of Investment in equity accounted investees 17,881.52 9,720.26 912.37 859.45 Group's Share of Profit or Loss from Continuing Operations 1,759.22 1,463.29 (29.50) 2.47 Group's share in other comprehensive income 1.38 1.11 (0.08) - Group's share in Total Comprehensive Income 1,760.60 1,464.40 (29.58) 2.47
|769| Chap. 30 – Ind AS 112 – Interest in other entities 27. Non-controlling interests (` in million) Particulars As at March 31, 2019 As at March 31, 2018 Balance at beginning of year 156,059.97 132,919.64 Share of profit for the year 33,919.68 39,620.58 Share of OCI (434.29) 185.69 Additional non-controlling interests arising on acquisition/ disposal of interest - 494.49 Dividend Paid to NCI (7,741.08) (13,670.70) Dividend Tax (1,591.20) (2,783.03) Others 849.02 (706.70) Balance at end of year 181,062.10 156,059.97 27.1 Details of non-wholly owned subsidiaries of the Group that have material non-controlling interest: (` in million) Name of subsidiary Place of incorporation and principal place of business Proportion of ownership interests and voting rights held by non-controlling interests Profit (Loss) allocated to noncontrolling interests Accumulated non- controlling interests As at March 31, 2019 As at March 31, 2018 As at March 31, 2019 For the year ended March 31, 2018 As at March 31, 2019 As at March 31, 2018 HPCL India 48.89% 48.89% 32,710.51 35,290.20 141,698.79 117,740.57 MRPL India 19.71% 19.71% 670.09 3,926.73 19,859.23 20,382.16 PMHBL India 50.56% 50.56% 565.17 422.00 4,026.42 3,461.76 Beas Rovuma Energy Mozambique Limited Incorporated in British Virgin Island, operations in Mozambique 40.00% 40.00% (3.86) (18.34) 14,505.88 13,591.84 Individually immaterial subsidiaries with non-controlling interests 971.77 883.64 Total 181,062.10 156,059.97 27.2 Summarised financial information in respect of each of the Group’s subsidiaries that have material non-controlling interest is set out below. The summarized financial information below represents amounts before intragroup eliminations. (` in million) 1. HPCL As at March 31, 2019 As at March 31, 2018 Non-current assets 637,932.89 531,386.60 Current assets 434,650.40 365,330.79 Non-current liabilities 197,359.00 165,763.77 Current liabilities 571,217.89 475,629.42 Equity attributable to owners of the Company 162,307.61 137,583.64 Non-controlling interests 141,698.79 117,740.57