Integrated Report (1-67) Statutory Reports (68-169) Financial Statements (170-367)
Consolidated Statement of Profit and Loss
(` in crores)
Year ended March Year ended March
Notes
31, 2021 31, 2020
I. Revenue from operations 33
(a) Revenue 246,972.17 258,594.36
(b) Other Operating Revenues 2,822.58 2,473.61
Total revenue from operations 249,794.75 261,067.97
II. Other income (includes Government grants) 34 2,643.19 2,973.15
III. Total Income (I+II) 252,437.94 264,041.12
IV. Expenses:
(a) Cost of materials consumed
(i) Cost of materials consumed 141,392.43 152,968.74
(ii) Basis adjustment on hedge accounted derivatives (35.16) (297.27)
(b) Purchase of products for sale 12,250.09 12,228.35
(c) Changes in inventories of finished goods, work-in-progress and products for sale 4,684.16 2,231.19
(d) Employee benefits expense 35 27,648.48 30,438.60
(e) Finance costs 36 8,097.17 7,243.33
(f) Foreign exchange (gain)/loss (net) (1,732.15) 1,738.74
(g) Depreciation and amortisation expense 23,546.71 21,425.43
(h) Product development/engineering expenses 5,226.63 4,188.49
(i) Other expenses 37 40,921.97 57,087.46
(j) Amount transferred to capital and other account (12,849.13) (17,503.40)
Total Expenses (IV) 249,151.20 271,749.66
V. Profit/ (Loss) before exceptional items and tax (III-IV) 3,286.74 (7,708.54)
VI. Exceptional Items:
(a) Defined benefit pension plan amendment past service cost 47 (c) 84.81 -
(b) Employee separation cost 459.90 436.14
(c) Charge associated with change in JLR Strategy 47 (b) 14,994.30 -
(d) Write off/provision (reversal) for tangible/intangible assets (including under development) 47 (h) 114.00 (73.04)
(e) Impairment losses/(Reversal) in Passenger Vehicle Business 8(a) (1,182.41) 1,418.64
(f) Provision/(Reversal) for onerous contracts and related supplier claims 8(b) (663.00) 777.00
(g) Reversal for cost of closure of operation of a subsidary (46.58) (65.62)
(h) Impairment in subsidiaries - 353.20
(i) Provision for loan given to a Joint venture - 25.12
VII. Profit/(Loss) before tax (V-VI) (10,474.28) (10,579.98)
VIII. Tax expense/(credit) (net): 22
(a) Current tax (including Minimum Alternate Tax) 1,710.18 1,893.05
(b) Deferred tax 831.68 (1,497.80)
Total tax expense/(credit) (net) 2,541.86 395.25
IX. Profit/(loss) for the year from continuing operations (VII-VIII) (13,016.14) (10,975.23)
X. Share of profit/(loss) of joint ventures and associates (net) 9 (378.96) (1,000.00)
XI. Profit/(loss) for the year (IX+X) (13,395.10) (11,975.23)
Attributable to:
(a) Shareholders of the Company (13,451.39) (12,070.85)
(b) Non-controlling interests 56.29 95.62
XII. Other comprehensive income/(loss):
(A) (i) Items that will not be reclassified to profit or loss:
(a) Remeasurement gains and (losses) on defined benefit obligations (net) (7,285.87) 8,803.29
(b) Equity instruments at fair value through other comprehensive income (net) 415.86 (132.99)
(c) Share of other comprehensive income in equity accounted investees (net) 3.02 (2.48)
(ii) Income tax (expense)/credit relating to items that will not be reclassified to profit or loss 1,369.11 (1,375.55)
(B) (i) Items that will be reclassified to profit or loss:
(a) Exchange differences in translating the financial statements of foreign operations 3,720.98 2,233.22
(b) Gains and (losses) in cash flow hedges (including forecast inventory purchases) (refer note 24) 5,439.35 2,150.70
(c) Gains and (losses) on finance receivables held at fair value through other comprehensive income (net) 206.90 136.24
(d) Share of other comprehensive income in equity accounted investees (net) 150.01 102.61
(ii) Income tax (expense)/credit relating to items that will be reclassified to profit or loss (1,100.02) (410.57)
Total other comprehensive income/(loss) for the year (net of tax) 2,919.34 11,504.47
Attributable to:
(a) Shareholders of the Company 2,900.19 11,491.97
(b) Non-controlling interests 19.15 12.50
XIII. Total comprehensive income/(loss) for the year (net of tax) (XI+XII) (10,475.76) (470.76)
Attributable to:
(a) Shareholders of the Company (10,551.20) (578.88)
(b) Non-controlling interests 75.44 108.12
XIV. Earnings per equity share (EPS) 45
(a) Ordinary shares (face value of `2 each):
(i) Basic EPS ` (36.99) (34.88)
(ii) Diluted EPS ` (36.99) (34.88)
(b) ‘A’ Ordinary shares (face value of `2 each):
(i) Basic EPS ` (36.99) (34.88)
(ii) Diluted EPS ` (36.99) (34.88)
See accompanying notes to consolidated financial statements
In terms of our report attached For and on behalf of the Board
For B S R & Co. LLP
Chartered Accountants N CHANDRASEKARAN [DIN: 00121863] GUENTER BUTSCHEK [DIN: 07427375]
Firm’s Registration No: 101248W/W-100022 Chairman CEO and Managing Director
Place- Mumbai Place- Austria
SHIRAZ VASTANI VEDIKA BHANDARKAR [DIN: 00033808] P B BALAJI
Partner Director Group Chief Financial Officer
Membership No. 103334 Place- Mumbai Place- Mumbai
UDIN: 21103334AAAAAX9949
Place- Pune H K SETHNA [FCS: 3507]
Company Secretary
Place- Mumbai
Date: May 18, 2021 Date: May 18, 2021
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