Page 214 - Tata_Chemicals_yearly-reports-2019-20

35. Earnings per share

As at As at
March 31, 2020 March 31, 2019
(Restated)
Basic and Diluted earnings per share (`)
From continuing operations (`) 26.37 24.76
From discontinued operations (`) 242.13 8.79
Total Basic and Diluted earnings per share (`) 268.50 33.56

Footnotes:
The earnings and weighted average numbers of equity shares used in the calculation of basic and diluted earnings per share are as follows.
(a) Earnings used in the calculation of basic and diluted earnings per share: ` in crore ` in crore
Profit for the year from continuing operations 671.82 630.81
Profit for the year from discontinued operations 6,168.40 224.03
6,840.22 854.84

(b) Weighted average number of equity shares used in the calculation of basic and No. of shares No. of shares
diluted earnings per share:
Weighted average number of equity shares used in the calculation of basic and 25,47,56,278 25,47,56,278
diluted earnings per share from continuing operations and from discontinued operations

36. Business combination
The Board of Directors of the Company has approved the Scheme of Merger by Absorption ('Scheme') under the provisions of
Section 234 read with Sections 230 to 232 of the Companies Act, 2013 for the merger of Bio Energy Venture - 1 (Mauritius) Pvt. Ltd., a
wholly owned subsidiary of the Company, with the Company.

The Hon'ble National Company Law Tribunal ('NCLT'), Mumbai Bench on April 23, 2020 approved the Scheme of Merger by Absorption
of Bio Energy Venture-1 (Mauritius) Pvt. Ltd. ('Bio'), a wholly owned subsidiary of the Company, with the Company ('Scheme'), with an
Appointed Date of April 1, 2019. In accordance with Ind AS 103, being a common control transaction, previous periods have been
restated with effect from April 1, 2018, being earliest period presented. The impact of amalgamation on the Standalone Statement
of Profit and Loss is immaterial.

Bio Energy Venture - 1 (Mauritius) Pvt. Ltd was an investment holding company which "interalia" held investments in step down
subsidiaries. As per the Scheme, all assets, liabilities and reserves of Bio Energy Venture - 1 (Mauritius) Pvt. Ltd appearing as at April 1,
2018 are recognised in the books of the Company at their respective carrying values, as detailed below. On account of this merger,
Tata Chemicals International Pte. Limited is now direct wholly owned subsidiary of the Company.

Pursuant to the Scheme coming into effect, the inter-company investments (including equity and preference shares) held between
the Company and Bio shall stand cancelled. Further, the difference between the net assets transferred from Bio and the amount of
such inter-company investments cancelled, has been transferred to capital reserve in accordance with the Scheme and Ind AS 103.

212 I INTEGRATED ANNuAL REPORT 2019-20