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Integrated report Statutory reportS Financial StatementS
Consolidated

Notes forming part of the Consolidated Financial Statements

1. Corporate Information operating cycle and other criteria set out in the
Schedule III to the act.
tata Chemicals limited (the ‘Company’ ) is a public limited
company domiciled in India. Its shares are listed on two Figures for the year ended March 31, 2019
stock exchanges in India; the Bombay Stock exchange have been restated on account of demerger of
(‘BSe’) and the national Stock exchange (‘nSe’). the consumer products business (note 36).
Company and its subsidiaries (collectively the ‘group’)
is a diversified businesses dealing in basic chemistry 2.3 Critical accounting estimates, assumptions
products and specialty products. the group has a global and judgements
presence with key subsidiaries in united States of america the preparation of the CFS requires management
(uSa), united Kingdom (uK) and Kenya that are engaged to make estimates, assumptions and judgments
in the manufacture and sale of soda ash, industrial salt that affect the reported balances of assets and
and related products. during the year, the Company has liabilities and disclosures as at the date of the
demerged consumer products business as per Scheme of Consolidated Financial Statements and the
arrangement amongst tata Consumer products limited reported amounts of income and expense for the
(formerly tata global Beverages limited) (“tCpl”) and the periods presented.
Company and their respective shareholders and creditors
(note 36). the estimates and associated assumptions are
based on historical experience and other factors
2. Summary of basis of compliance, basis that are considered to be relevant. actual results
of preparation and presentation, critical may differ from these estimates under different
accounting estimates, assumptions and assumptions and conditions.
judgements and significant accounting
policies estimates and underlying assumptions are
reviewed on an ongoing basis. revisions to
2.1 Basis of compliance accounting estimates are recognised in the period
in which the estimates are revised and future
the Consolidated Financial Statements (‘CFS’) periods are affected.
comply, in all material aspects, with Indian
accounting Standards (‘Ind aS’) notified under the estimates and assumptions that have a
Section 133 of the Companies act, 2013 (‘the act’) significant risk of causing a material adjustment to
read with rule 3 of Companies (Indian accounting the carrying values of assets and liabilities within
Standards) rules, 2015 and other relevant the next financial year are discussed below.
provisions of the act.
2.3.1 Impairment of goodwill and goodwill on
2.2 Basis of preparation and presentation consolidation and intangible assets
the Consolidated Financial Statements have been goodwill and Intangible assets are tested for
prepared on the historical cost basis, except for impairment at least on an annual basis or more
certain financial instruments and defined benefit frequently, whenever circumstances indicate that
plans which are measured at fair value at the end the recoverable amount of the cash generating
of each reporting period. Historical cost is generally unit (‘Cgu’) is less than its carrying value. the
based on the fair value of the consideration given impairment indicators, the estimation of expected
in exchange for goods and services. Fair value is the future cash flows and the determination of the fair
price that would be received to sell an asset or paid value of Cgu require the Management to make
to transfer a liability in an orderly transaction between significant estimates, assumptions and judgments.
market participants at the measurement date. these are in respect of revenue growth rates and
operating margins used to calculate projected
all assets and liabilities have been classified as future cash flows, relevant risk-adjusted discount
current or noncurrent as per the group’s normal rate, future economic and market conditions, etc.

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