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01 INTEGRATED 73 STATUTORY 178 FINANCIAL
STATEMENTS
REPORTS
REPORT
Standalone

7(b). Goodwill
Goodwill of ` 45.53 crore (2021: ` 45.53 crore) relates to the precipitated silica business. The estimated value in use of the CGU is based
on future Cash Flows of forecasted period of 20 years and discount rate of 13%, which consider the operating and macro-economic
environment in which the entity operates.
An analysis of the sensitivity of the change in key parameters (operating margin, discount rates and long term average growth rate), based
on reasonably probable assumptions, did not result in any probable scenario in which the recoverable amount of the CGU would decrease
below the carrying amount.

8. Investments
As at March 31, 2022 As at March 31, 2021
Holdings Holdings
Particulars Amount Amount
No. of ` in crore No. of ` in crore
securities securities
(a) Investments in equity instruments in subsidiaries and
joint ventures (fully paid up) (footnote "i")
(i) Subsidiaries (at cost)
Quoted
Rallis India Ltd. 9,73,41,610 479.97 9,73,41,610 479.97
Unquoted
Tata Chemicals International Pte. Limited 48,53,07,852 3,123.75 48,53,07,852 3,123.75
Ncourage Social Enterprise Foundation 25,50,000 2.55 25,50,000 2.55
(ii) Investments in preference shares (fully paid up)
Unquoted (at cost)
Direct Subsidiary
Non Cumulative Redeemable Preference Shares of Tata 1,61,00,000 750.16 1,61,00,000 750.16
Chemicals International Pte. Limited
Indirect Subsidiaries
Non Cumulative Redeemable Preference Shares of - - 1,00,00,000 65.18
Gusiute Holdings (UK) Limited
Non Cumulative Redeemable Preference Shares of 1,78,50,000 116.34 1,78,50,000 116.34
Homefield Pvt UK Limited
Less: Impairment # (116.34) (116.34)
(iii) Joint ventures (at cost)
Unquoted
Indo Maroc Phosphore, S.A. , Morocco 2,06,666 166.26 2,06,666 166.26
Tata Industries Ltd. 98,61,303 170.19 98,61,303 170.19
Total investments (i+ii+iii) 4,692.88 4,758.06
(b) Other investments
(i) Investments in equity instruments
(Fair value through Other Comprehensive Income)
Quoted
The Indian Hotels Co. Ltd. 1,18,77,053 283.27 1,06,89,348 118.49
Oriental Hotels Ltd. 25,23,000 15.96 25,23,000 5.75
Tata Investment Corporation Ltd. 4,41,015 59.82 4,41,015 45.67
Tata Steel Ltd. 30,90,051 403.93 30,90,051 250.87
Tata Motors Ltd. 19,66,294 85.29 19,66,294 59.34
Titan Company Ltd. 1,38,26,180 3,506.53 1,38,26,180 2,154.19

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