DOCSLIB.ORG

Consolidated Financial Statements

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Consolidated Financial Statements Consolidated Financial Statements ` ` Integrated Annual Report 2020-21 Independent Auditors’ Report To the Members of Tata Chemicals Limited income, consolidated changes in equity and consolidated cash flows for the year then ended. Report on the Audit of Consolidated Financial Statements Basis for Opinion Opinion We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our We have audited the Consolidated Financial Statements of responsibilities under those SAs are further described in the Tata Chemicals Limited (hereinafter referred to as the ‘Holding Auditor’s Responsibilities for the Audit of the Consolidated Financial Company”) and its subsidiaries (Holding Company and its Statements section of our report. We are independent of the Group subsidiaries together referred to as “the Group”) and its joint and its joint ventures in accordance with the ethical requirements ventures, which comprise the Consolidated Balance Sheet as at that are relevant to our audit of the Consolidated Financial March 31, 2021, and the consolidated statement of profit and loss Statements in terms of the Code of Ethics issued by the Institute (including other comprehensive income), consolidated statement of Chartered Accountants of India and the relevant provisions of of changes in equity and consolidated statement of cash flows the Act, and we have fulfilled our other ethical responsibilities in for the year then ended, and notes to the Consolidated Financial accordance with these requirements. We believe that the audit Statements, including a summary of significant accounting policies evidence obtained by us along with the consideration of audit and other explanatory information (hereinafter referred to as “the reports of the other auditors referred to in sub paragraph (a) of Consolidated Financial Statements”). the “Other Matters” paragraph below, is sufficient and appropriate In our opinion and to the best of our information and according to provide a basis for our opinion on the Consolidated Financial to the explanations given to us, and based on the consideration Statements. of reports of other auditors on separate Financial Statements of such subsidiaries and joint ventures as were audited by the other Key Audit Matters auditors, the aforesaid Consolidated Financial Statements give the Key audit matters are those matters that, in our professional information required by the Companies Act, 2013 (“Act”) in the judgment, were of most significance in our audit of the Consolidated manner so required and give a true and fair view in conformity Financial Statements of the current period. These matters were with the accounting principles generally accepted in India, of the addressed in the context of our audit of the Consolidated Financial consolidated state of affairs of the Group and its joint ventures as at Statements as a whole, and in forming our opinion thereon, and we March 31, 2021, of its consolidated profit and other comprehensive do not provide a separate opinion on these matters. 216 Integrated Report Statutory Reports Financial Statements 1-59 60-146 Consolidated Description of Key Audit Matter Revenue recognition (refer notes 2.18 and 27 to the Consolidated Financial Statements) The Key Audit Matter How the matter was addressed in our audit Revenue is recognised when the control of the underlying Our audit procedures included: products has been transferred to the customer. Assessing the revenue recognition policies of the Group Revenue is measured based on transaction price, which is the including accounting for sales returns and discounts for consideration, after deduction of estimated accruals for sales compliance with Ind AS; returns and discounts (including rebates and incentives). The Group has manual and automated (information Due to the Group’s sales under various contractual terms and technology – IT) controls on recording revenue and across geographies, delivery to customers in different regions accruals for sales returns and discounts. We tested the might take different time periods and may result in undelivered design, implementation and operating effectiveness of goods at the period end. We consider there to be a risk of these controls. We involved our IT specialists for IT testing. misstatement of the Financial Statements related to transactions In respect of cut-off and fraud risk, we focussed on controls occurring close to the year end, as transactions could be recorded around the timely and accurate recording of year end sales in the wrong financial period (cut-off risk). transactions. For auditing assumptions of discounts and There is also a risk of revenue being overstated due to fraud estimates of sales returns, we focussed on controls around resulting from pressure on the Group to achieve performance the accurate recording of accruals for sales returns and targets at the reporting period end. discounts. The recognition and measurement of discounts involves Fraud and cut-off risk significant assumptions and estimates, particularly the expected Performing testing on selected statistical samples of revenue level of claims of each customer. transactions recorded during the year end. Estimation of sales returns also involves significant judgement and We verified contractual terms of the invoice and tested the estimates. These factors include, for example, climatic conditions transit time to deliver the goods; and the length of time between sales and sales returns, some of Assessing high risk manual journals posted to revenue to which are beyond the control of the Group. identify unusual items. Accordingly, fraud and cut-off risks in revenue recognition Accrual for sales returns and discounts including accruals for sales returns and discounts is a key audit Selecting samples of revenue transactions and verifying matter. accruals for discounts in accordance with the eligibility criteria mentioned in the marketing circulars; Evaluating the Group’s ability to accurately estimate the accrual for sales returns and discounts. Comparing historically recorded accruals to the actual amount of sales returns and discounts. 217 Integrated Annual Report 2020-21 Litigations and claims (refer notes 2.3.5, 2.27, 21 and 47.1 to the Consolidated Financial Statements) The Key Audit Matter How the matter was addressed in our audit The Group operates in various countries exposing it to a variety Our audit procedures included: of different laws, regulations and interpretations thereof. The Obtaining an understanding of actual and potential provisions and contingent liabilities relate to ongoing litigations outstanding litigations and claims against the Group from and claims with various authorities. Litigations and claims may the respective entity’s in-house Legal Counsel and other arise from direct and indirect tax proceedings, legal proceedings, senior personnel of the Group and assessing their responses; including regulatory and other government/department proceedings, as well as investigations by authorities and Assessing status of the litigations and claims based on commercial claims. correspondence between the Group and the various tax/ legal authorities and legal opinions obtained by the Group; Resolution of litigations and claims proceedings may span over multiple years beyond March 31, 2021 due to the complexity Testing completeness of litigations and claims recorded by and magnitude of the legal matters involved and may involve assessing the Group’s legal expenses and the minutes of the protracted negotiation or litigation. Board meetings; The computation of a provision or contingent liability requires Assessing and challenging the Group’s estimate of the significant judgement by the Group because of the inherent possible outcome of litigations and claims. This is based on complexity in estimating future costs. The amount recognised as the applicable tax laws and legal precedence by involving a provision is the best estimate of the expenditure. The provisions our tax specialists in taxation related matters and internal/ and contingent liabilities are subject to changes in the outcomes external legal counsel; of litigations and claims over time as new facts emerge as each Evaluating the Company’s internal control and judgements legal case progresses and positions taken by the Group. made by comparing the estimates of prior year to the actual There is inherent complexity and magnitude of potential outcome; exposures is significant across the Group. Significant judgment is Assessing and testing the adequacy and completeness of necessary to estimate the likelihood, timing and amount of the the Group’s disclosures in respect of litigations and claims. cash outflows, interpretations of the legal aspects, legislations and judgements previously made by the authorities. Accordingly, this is identified as a key audit matter. 218 Integrated Report Statutory Reports Financial Statements 1-59 60-146 Consolidated Impairment evaluation of goodwill and mining rights (refer notes 2.3.1, 2.16, 7 and 8 to the Consolidated Financial Statements) The Key Audit Matter How the matter was addressed in our audit The carrying amount of goodwill and mining rights represents Our audit procedures included the following: 33% of the Group’s total assets. Assessing the identification of relevant Cash Generating The Group tests goodwill for impairment annually, or more Units (CGU) to which goodwill is allocated and to which frequently when there is an indication that the cash generating
Load more

Recommended publications
  • Strategy Embedded Value of Tata Sons in Group
    EQUITY RESEARCH India | Equity Strategy Strategy Exhibit 1 - Value of Tata Group Embedded Value of Tata Sons in Group Cos companies holding in Tata Sons Value of holdings in Tata Sons based Value of holdings in Tata Company Name Market Cap (Rs mn) 6 October 2020 on listed investment (Rs mn) Sons (as % of Mcap) Tata Chemicals 78,478 198,704 253.2 Tata Power 172,069 129,525 75.3 The Indian Hotels Company 120,353 87,347 72.6 Key Takeaway Tata Steel 434,912 240,203 55.2 Tata Motors 445,242 240,203 53.9 Financial troubles at the Shapoorji Palanji (SP) group, which holds an 18% stake in . Tata Consumer Products 463,754 34,065 7.3 Source: Company annual reports, Jefferies Tata Sons – the group hold co – has triggered debate on Tata Sons' worth. Tata Sons’ holdings across 14 listed cos works out to US$100bn+. SP group's reported asking price is c.20% higher. Several listed Tata group cos hold a stake in Tata Sons. For Tata Chem, Indian Hotels, Tata Power, Tata Steel and Tamo the value of investment in Tata Sons is more than 50% of the market cap. This report is intended for [email protected]. Unauthorized distribution prohibited. Stress at the SP group prompting likely Tata Sons breakup. The SP group's weak liquidity situation was made clear recently when on 25th Sep'20 it defaulted on a Union Bank owned Rs2bn commercial paper. Earlier, the group had tried to pledge part of its 18.4% shareholding in Tata Sons to shore up funding for its own businesses; but the same was stayed by the Supreme court (next hearing 28th October).
    [Show full text]
  • Govt Unlikely to Trim GST on Automobiles
    FRIDAY • AUGUST 27, 2021 MUMBAI ₹10 • Pages 10 • Volume 28 • Number 238 AUTO FOCUS DATA FOCUS RAISING THE RED FLAG On the 50th anniversary of the Covid­related health claims in just the The independent auditors of Tata Sons original Countach, Lamborghini’s first five months of FY22 have already have expressed concerns over AirAsia futuristic hybrid makes its debut p7 topped claims of whole of FY21 p2 India’s ability to sustain as a going concern p2 Bengaluru Chennai Coimbatore Hubballi Hyderabad Kochi Kolkata Madurai Malappuram Mangaluru Mumbai Noida Thiruvananthapuram Tiruchirapalli Tirupati Vijayawada Visakhapatnam Regd. TN/ARD/14/09-11, RNI No. 55320/94 Boeing MAX 737 HIGHER FAMILY PENSION, NPS Govt unlikely to trim to fly again in India PSBs to make ₹21,300­crore OUR BUREAU New Delhi, August 26 The Directorate­General of GST on automobiles Civil Aviation (DGCA) on additional provision yearly Top official says sop Thursday allowed Boeing MAX­8 aircraft to fly again in To soften impact, not needed as sales the country. On account of two have picked up, no fatal accidents, the regulator will seek special RBI had halted operation of this dispensation to inventory build­up type of planes with effect from March 2019. spread it over 5 years OUR BUREAU As on date, SpiceJet is the New Delhi, August 26 only Indian carrier using Boe­ SHISHIR SINHA The government is unlikely to ing 737 MAXaircraft; it has 13 in New Delhi, August 26 ation of the 11 th bi­partite set­ 2018, it was decided that for a oblige any time soon the auto­ Tax burden a single­class configuration Public sector banks will have tlement on wage revision of Central government em­ mobile industry’s demand for each with capacity to carry 189 to set aside an additional public sector bank employ­ ployee, the mandatory con­ ■ lowering the Goods & Services All automobiles attract GST between 18% and 28% passengers.
    [Show full text]
  • Public Disclosures March 2021 -Breaklink.Xlsx
    PERIODIC DISCLOSURES FORM NL-31 RELATED PARTY TRANSACTIONS TATA AIG GENERAL INSURANCE COMPANY LIMITED IRDAI Registration No. 108, dated January 22, 2001 ( ₹ in Lakhs) CONSIDERATION PAID / RECEIVED NATURE OF RELATIONSHIP WITH CORRESPONDING UP TO THE SL.NO. NAME OF THE RELATED PARTY DESCRIPTION OF TRANSACTION FOR THE UP TO THE THE COMPANY QUARTER OF THE QUARTER OF THE QUARTER QUARTER PRECEEDING YEAR PRECEEDING YEAR 1 AIG MEA INVESTMENTS AND SERVICES LLC JOINT VENTURE PROMOTER SHARE CAPITAL RECEIVED - - - 2,261 2 AIG MEA INVESTMENTS AND SERVICES LLC JOINT VENTURE PROMOTER SECURITIES PREMIUM RECEIVED - - - 2,939 3 AirAsia (India) Limited FELLOW SUBSIDIARIES PREMIUM BOOKED 5 6 0 0 4 ARROW INFRAESTATE PRIVATE LIMITED FELLOW SUBSIDIARIES PREMIUM BOOKED - 4 - - 5 AURORA INTEGRATED SYSTEM PRIVATE LIMITED FELLOW SUBSIDIARIES PREMIUM BOOKED 0 1 0 1 6 DHARAMSHALA ROPEWAY LIMITED FELLOW SUBSIDIARIES PREMIUM BOOKED - 22 10 21 7 EWART INVESTMENTS LIMITED FELLOW SUBSIDIARIES PREMIUM BOOKED 4 4 3 3 8 GURGAON CONSTRUCT WELL PRIVATE LIMITED FELLOW SUBSIDIARIES PREMIUM BOOKED - 2 - - 9 GURGAON REALTECH LIMITED FELLOW SUBSIDIARIES PREMIUM BOOKED 9 23 5 20 10 INFINITI RETAIL LIMITED FELLOW SUBSIDIARIES CLAIMS INCURRED 190 257 17 205 11 INFINITI RETAIL LIMITED FELLOW SUBSIDIARIES PREMIUM BOOKED 129 133 442 621 12 INTERNATIONAL INFRABUILD PRIVATE LIMITED FELLOW SUBSIDIARIES PREMIUM BOOKED - 7 - - 13 INTERNATIONAL INFRABUILD PRIVATE LIMITED FELLOW SUBSIDIARIES CLAIMS INCURRED 1 1 - - 14 KRIDAY REALTY PRIVATE LIMITED FELLOW SUBSIDIARIES PREMIUM BOOKED - 1 0 1 15 TATA ADVANCED SYSTEMS LIMITED FELLOW SUBSIDIARIES AMOUNT DUE TO THE ENTITY 0 1 - - 16 MMP MOBI WALLET PAYMENT SYSTEMS LIMITED (W.E.F. 02.02.2017) FELLOW SUBSIDIARIES COST OF SERVICES - - - (0) 17 MMP MOBI WALLET PAYMENT SYSTEMS LIMITED (W.E.F.
    [Show full text]
  • Customer at the Centre
    CUSTOMER AT THE CENTRE ANNUAL REPORT 2020-21 CONTENTS 04 Purpose Statement 05 Message from S Padmanabhan 06 Governing Council 07 Leadership Team CUSTOMER STORIES 09 Tata Elxsi 13 Tata Metaliks 16 Tata Motors 18 Tata Motors Finance 21 Tata NYK Shipping 24 Tata Power 28 Tata Power Delhi Distribution CONTENTS 33 Tata Sky 36 Tata Steel Downstream Products 38 Tata Steel UISL 41 Trent TBEXG’S PERFORMANCE HIGHLIGHTS 46 Assessments 53 Capability Building 59 Improvement Interventions 66 One Tata 71 Recognitions 75 Tata Network Forums OUR PURPOSE To Partner with Tata Companies in their Journey of Excellence to Achieve World Class Performance 04 Annual Report 2020-21 CU STOMER AT THE CENTRE S PADMANABHAN, Chairman - Governing Council, Tata Business Excellence Group The year 2020 marked a major outcomes of projects aligned with best practices amongst companies milestone for the business company expectations. has had a great pull, with 68 such excellence journey of the Tata sessions taking place among 30 Group – Tata Consultancy At the JRDQV function on 29 July, companies. Services was recognised as the 2020, Tata Consultancy Services Benchmark Leader, the first won the coveted Benchmark Mentors, BE Heads, Assessors, company to earn this award till Leader recognition. Tata Autocomp Safety Heads and AA Champions date. Systems, Tata Consulting continued to connect through Engineers, Tata Pigments and various meets, which happened As we reflect on the year gone by, Tata Sky were recognised in the virtually last year. In addition to there have been many ups and Emerging Industry Leader category. annual events like JRDQV and downs; we go into the coming Business Excellence Convention, year having great memories In 2020-21, 10 Business Excellence these included Mentors Meet, from the ups and great lessons Assessments, 5 Data Maturity Mentors Presentation to the from the downs.
    [Show full text]
  • TOI TCS Unveils Another Buyback
    Printed from TCS unveils another buyback worth Rs 16k cr, Tata Sons to gain most TNN | Oct 8, 2020, 04.00 AM IST MUMBAI: Tata Consultancy Services (TCS), India’s second most-valued company, will spend Rs 16,000 crore to repurchase its stock “to return capital to shareholders”. Largest stakeholder Tata Sons will be the biggest beneficiary of this programme, which has been announced two weeks after it told the Supreme Court that it was willing to buy the 18.4% stock held in the company by the Mistry family-owned Shapoorji Pallonji (SP) Group. With a 72% stake in TCS, Tata Sons will receive about Rs 11,500 crore from the buyback if it tenders all the shares it is eligible to offer under the programme. Historically, TCS has been the biggest contributor to the Tata Sons kitty as the parent earns huge dividends from the world’s third- largest software services provider’s shares and makes gains through its buyback programmes. The cash transfers from TCS help Tata Sons in its various activities like financing acquisitions (it is currently in the midst of restructuring AirAsia India, working out funding plans to buy SP’s stake following a legal dispute that will be heard on October 28 by the SC and weighing bidding options for Air India, the deadline for which is October 30 but is expected to be extended owing to the pandemic). On Wednesday, the TCS board voted to buy back 5.3 crore shares (1.4% of its capital) at Rs 3,000 each. This is at a 10% premium to Wednesday’s closing price of Rs 2,737 on the BSE.
    [Show full text]
  • Airasia India Flexit Offer
    AirAsia India ‘FlexIt’ Offer - Make Unlimited Changes to your Booking at no Change Fee Terms and Conditions 1. AirAsia India Limited (“AirAsia India”) is offering an unlimited “change fee” waiver to its customers from 18 April 2021 to 15 May 2021 (both dates inclusive) (“Offer Period”) on selective fare options, through any booking platform, in accordance with the terms and conditions specified herein (“T&Cs”). 2. The Offer is available for all AirAsia India (I5) operated domestic flights, excluding the group bookings made on AirAsia India’s flights. 3. The “change fee” shall be waived off for any changes made to the travel date (only) by the customer for their bookings made during the Offer Period, without any restrictions on the revised travel dates. However, the Offer shall not apply in the event the customer cancels the booking later or changes the sector, in which cases the “cancellation fee” shall be chargeable at currently applicable rates. 4. The Offer is applicable to all domestic travel bookings on selective fare option (i.e. Regular Fares and Premium Flex Fares) for one-way, connecting, and round-trip flights on all AirAsia India operated flights. 5. The Offer is valid for bookings made through all booking channels, including but not limited to AirAsia India’s official website, Mobile App, OTA, and call centre. 6. In order to avail the Offer, the original booking on an AirAsia India operated domestic flight should have been made during the Offer Period. 7. All AirAsia India flight bookings made under this Offer shall be subject to AirAsia India’s Terms and Conditions of Carriage (“CoC”) available at https://www.airasia.co.in/content/air-asia/en/terms-and-conditions.html.
    [Show full text]
  • 20F for 2019
    As filed with the Securities and Exchange Commission on July 30, 2019 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number: 001-32294 TATA MOTORS LIMITED (Exact name of Registrant as specified in its charter) Bombay House 24, Homi Mody Street Republic of India Mumbai 400 001, India (Jurisdiction of incorporation or organization) (Address of principal executive offices) H.K. Sethna Tel.: +91 22 6665 7219 Facsimile: +91 22 6665 7790 Email: [email protected] Address: Bombay House 24, Homi Mody Street Mumbai 400 001, India (Name, Telephone, Facsimile number, Email and Address of company contact person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of Each Exchange On Which Registered Ordinary Shares, par value Rs.2 per TTM New York Stock Exchange share* Securities registered or to be registered pursuant to Section 12(g) of the Act: None (Title of Class) Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: ‘A’ Ordinary Shares, par value Rs.2 per share (Title of Class) Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: 2,887,348,694 Ordinary Shares and 508,502,371 ‘A’ Ordinary Shares, including 323,696,360 Ordinary Shares represented by 64,735,220 American Depositary Shares (“ADSs”), outstanding as of March 31, 2019.
    [Show full text]
  • Acquisitions, Mergers, Joint-Ventures, Alliances, Partnerships and Other Business Combinations, a Study of TATA Sons, Their Jour
    IARJSET ISSN (O) 2393-8021, ISSN (P) 2394-1588 International Advanced Research Journal in Science, Engineering and Technology Vol. 8, Issue 8, August 2021 DOI: 10.17148/IARJSET.2021.8867 Acquisitions, Mergers, Joint-Ventures, Alliances, Partnerships and other Business Combinations, a study of TATA Sons, their journey, impacts and strategies for the Airline Industry Shaheed Khan1, Freeda Maria Swarna M2, R. Kannan3, S. Praveen Kumar3 Research Scholar, Centre for Tourism and Hotel Management, Madurai Kamaraj University, Madurai, India1 Research Scholar, Centre for Tourism and Hotel Management, Madurai Kamaraj University, Madurai, India2 Professor and Director, Centre for Tourism and Hotel Management, Madurai Kamaraj University, Madurai, India 3 Assistant Professor, Centre for Tourism and Hotel Management, Madurai Kamaraj University, Madurai, India4 Abstract: Aviation Industry has held its stead and ensured corporate business across the world. India saw the growth of airlines from the beginning of the twentieth century albeit, in the private sector, India also witnessed Nationalization followed by privatization. With a multitude of domestic and global players, aviation in India grew leaps and bounds. Many private airlines wound up on various accounts, many were born as well. The Government of India ensured that Air India and its subsidiaries which were successful till the 1970s and were losing steam on account of bureaucratic and political apathy was funding the behemoth, which turned out to be a loss-making enterprise. The world of aviation has seen plenty of Acquisitions, Mergers, Joint-ventures, Alliances, Partnerships and other business combinations as researched and studied by Prof. Benjamin Gomes-Casseres in his Remix Strategy. The Research paper is a work in progress which is focusing on the dynamics of what the TATA Sons are doing to ensure a revert back to the business that they originally founded in 1932.
    [Show full text]
  • Airasia Flight Fare Offer
    Airasia Flight Fare Offer apprizeStormless his Travis rove so never periodically! veils so damaginglyBedewed and or kingdomlesstitivating any Frankassassinator scintillates remorsefully. his tubing Retaliatory dowers fissuring Algernon forehanded. impregnate some arvos and Hand on is rarely measured and even staff often weighed It does happen that some airlines are very strict before the majority of airlines only weigh checked luggage. Each focus is allowed one bounds of cabin baggage AND 1 laptop is OR 1 handbag on-board seven main cabin baggage shall no exceed 56cm x 36cm x 23cm and does fire weigh more than 7kg This baggage should health be able or fit inside the hush in pursue of bullet or no overhead compartment. AirAsia India Wikipedia. Meals are not included in an AirAsia Low average ticket however odd a lounge of loose Pack Premium Flex and Premium Flatbed fares The culinary offering. The unlimited flight offer must represent another increase or repackaging of a normal promotion that offers heavily discounted fares free travel in one. 5 Easy Ways To Avoid Paying Excess Baggage Charges At The. Cheap Flight Tickets Sale book Domestic & International IndiGo. AirAsia India has offered to tax base cell for equity one-way flight whether for 50000 frontline doctors under its RedPass initiative across its. Offer Details Makemytrip is Great Indian Getaway Where livestock Are starting Makemytrip Air Asia Sale could You order Book Your Flight here At. Star Alliance and Living Map Partnership Offers Touchless Digital Airport Connections. Hand the Air India. After GoAir AirAsia has announced big monsoon discount on its domestic flights on selected routes The low rate airline has come up bin a.
    [Show full text]
  • 100Th Annual Report FY19
    Dear Shareholders, It gives me immense pleasure to share with you our performance for the year and perspectives on the way forward. FY 2018-19 was marked by steady growth in power demand, led by an improvement in the overall economic environment in India. Over the next decade, the Indian economy is set WRJURZDWDUHFRUGSDFHDQGDNH\HQDEOHURIWKLVJURZWKZLOOEH,QGLD¶VDELOLW\WRIXO¿OLWV electricity needs. We expect the growth momentum in the Indian power sector to continue, led by government’s infrastructure push and various structural policy reforms, which should augur well for the country’s power demand growth. Your Company’s consolidated PAT for FY 2019 was at ` 2,441 crore compared to ` FURUHLQWKHSUHYLRXV\HDUPDLQO\GXHWRORZHUSUR¿WVIURPFRDOFRPSDQLHV7KH SUR¿WDELOLW\RIFRDOFRPSDQLHVGXULQJWKH\HDUZDVDGYHUVHO\DIIHFWHGGXHWRGRPHVWLF market pricing obligation in Indonesia and increased fuel prices. All our subsidiaries and operating divisions have reported robust performance despite sectoral challenges. Our renewable power business added 200 MW in the current year and with another 400 MW in the pipeline. The solar EPC business possesses a healthy order book of ` 1,360 crore. We also launched residential solar rooftop solutions in several cities and installed 65 EV charging points across the country. The Trombay PPA with BEST and Tata Power’s Mumbai discom received an extension for 5 years. Through the Resurgent platform, the Company is in the process of acquiring the 1,980 MW Prayagraj power plant in Uttar Pradesh. Regarding Coastal Gujarat Power Limited, further to the recommendations by a High Powered Committee set up by the Government of Gujarat, we are in discussion with various state governments and state discoms and expect a compensatory tariff for it soon.
    [Show full text]
  • Monthly OTP November 2019
    Monthly OTP November 2019 ON-TIME PERFORMANCE AIRLINES Contents On-Time is percentage of flights that depart or arrive within 15 minutes of schedule. Global OTP rankings are only assigned to all Airlines/Airports where OAG has status coverage for at least 80% of the scheduled flights. Regional Airlines Status coverage will only be based on actual gate times rather than estimated times. This may result in some airlines / airports being excluded from this report. If you would like to review your flight status feed with OAG, please email [email protected] MAKE SMARTER MOVES Airline Monthly OTP – November 2019 Page 1 of 1 Home GLOBAL AIRLINES – TOP 50 AND BOTTOM 50 TOP AIRLINE ON-TIME FLIGHTS On-time performance BOTTOM AIRLINE ON-TIME FLIGHTS On-time performance Airline Arrivals Rank No. flights Size Airline Arrivals Rank No. flights Size JH Fuji Dream Airlines 96.5% 1 2,340 155 3H Air Inuit 37.2% 162 1,465 196 GA Garuda Indonesia 95.8% 2 12,736 48 AI Air India 40.1% 161 16,509 38 RC Atlantic Airways Faroe Islands 95.0% 3 210 295 WG Sunwing Airlines Inc. 50.3% 160 905 225 7G Star Flyer 94.0% 4 2,160 164 WO Swoop 53.4% 159 919 222 EW Eurowings 93.4% 5 15,608 40 SG SpiceJet 54.3% 158 18,288 33 SATA International-Azores 6J Solaseed 93.3% 6 2,226 161 S4 54.5% 157 448 260 Airlines S.A. XQ SunExpress 93.3% 7 3,115 135 IW Wings Air 54.7% 156 11,242 55 TA TACA International Airlines 92.8% 8 374 272 JY Intercaribbean Airways Ltd 56.1% 155 1,760 184 FA Safair 92.6% 9 2,250 159 JT Lion Air 58.0% 154 17,320 34 B7 Uni Airways 92.5% 10 4,132 123 BJ Nouvelair
    [Show full text]
  • Cyrus Mistry (11Th
    NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI Company Appeal (AT) No. 254 of 2018 IN THE MATTER OF: Cyrus Investments Pvt. Ltd. ….Appellant Vs. Tata Sons Ltd. & Ors. ….Respondents Present: For Appellant: Mr. C. A. Sundaram, Mr. Arun Kathpalia and Mr. K.G. Raghavan, Sr. Advocates with Mr. Somashekhar Sundresan, Mr. Manik Dogra, Mr. Rohan Jaitley, Ms. Rohini Musa, Mr. Abhishek Venkatraman, Mrs. Sonal Jaitley Bakshi, Mr. Jaiyesh Bakhshi, Mr. Apurva Diwanji, Mr. Ravi Tyagi, Mr. Shubhanshu Gupta, Ms. Sanya Kapoor, Ms. Rini Badoni, Mr. Akshay Doctor, Mr. Devashish, Mr. Parag Sawant and Mr. Gunjan Shah, Advocates. For Respondents: Dr. A.M. Singhvi and Mr. Rajiv Nayyar, Sr. Advocates with Mr. Prateek Seksaria, Ms. Ruby Singh Ahuja, Ms. Tahira Karanjawala, Mr. Anupm Prakash, Mr. Avishkar Singhvi, Mr. Arjun Sharma, Mr. Sahil Monga, Mr. Utkarsh Maria, Mr. L. Nidhiram Sharma and Mr. Baij Nath Patel, Advocates for R-1. Mr. Harish N. Salve, Sr. Advocate with Mr. Dhruv Dewan, Mr. Nitesh Jain, Mr. Rohan Batra, Ms. Reena Choudhary, Ms. Yashna Mehta and Mr. Nitesh Jain, Advocates for R-2. Mr. Amit Sibal, Senior Advocate with Ms. Ruby Singh Ahuja, Ms. Tahira Karanjawala, Mr. Arjun Sharma, Mr. Sahil Monga, Mr. Utkarsh Maria, Advocates for R-3, 5 & 7. Mr. Mohan Parasaran, Sr. Advocate with Mr. ZalAndyarujina, Mr. J.N. Mistry, Ms. Namrata Parikh, Mr. Ashwin Kumar D.S, Mr. Sidharth Sharma, Mr. Saswat Pattnaik, Mr. Aditya 2 Panda, Mr. Kartik Anand and Ms. Aditi Dani, Advocates for R-6, 16 to 22. Mr. Janak Dwarkadas, Sr. Advocate with Mr. Akshay Makhija, Mr.
    [Show full text]