Page 212 - Tata Chemical Annual Report_2022-2023

Integrated Annual Report 2022-23 01-83 84-192 193-365
Integrated Report Statutory Reports Financial Statements
Standalone

` in crore Notes forming part of the Standalone Financial Statements
Year ended Year ended
Particulars
March 31, 2023 March 31, 2022 estimates, assumptions and judgments that
C Cash flows from financing activities 1. Corporate information affect the reported balances of assets and
Repayment towards lease liabilities (3) (5) Tata Chemicals Limited (the ‘Company’) is a public liabilities and disclosures as at the date of
Finance costs paid (12) (10) limited company domiciled in India. Its shares are listed the Standalone Financial Statements and the
Bank balances in dividend and restricted account 1 - on two stock exchanges in India; the Bombay Stock reported amounts of income and expense for
Dividends paid (318) (255) Exchange (‘BSE’) and the National Stock Exchange the periods presented.
Net cash used in financing activities (332) (270) (‘NSE’). The Company is a diversified business dealing
Net decrease in cash and cash equivalents (5) (43) in basic chemistry products and specialty products. The The estimates and associated assumptions are
Cash and cash equivalents as at April 1 18 61 Company has a global presence with key subsidiaries in based on historical experience and other factors
United States of America (‘USA’), United Kingdom (‘UK’)
Cash and cash equivalents as at March 31 (note 14) 13 18 that are considered to be relevant. Actual results
and Kenya that are engaged in the manufacture and sale
Footnote: of soda ash, industrial salt and related products. may differ from these estimates considering
different assumptions and conditions.
Reconciliation of lease liabilities 2. Summary of basis of compliance, basis
` in crore of preparation and presentation, critical Estimates and underlying assumptions are
Year ended Year ended accounting estimates, assumptions and reviewed on an ongoing basis. Revisions to
Particulars
March 31, 2023 March 31, 2022 judgements and significant accounting policies accounting estimates are recognised in the
Lease liabilities - current(note 33) - 3 2.1 Basis of compliance period in which the estimates are revised and
- 3 future periods are affected.
Repayment towards lease liabilities (3) (5) The Standalone Financial Statements comply,
in all material aspects, with Indian Accounting
Movement of lease liabilities (net) (3) (5) The estimates and assumptions that have a
Standards (‘Ind AS’) notified under Section 133 significant risk of causing a material adjustment
The Statement of Cash Flow is prepared using indirect method as prescribed under Ind AS 7. of the Companies Act, 2013 (‘the Act’) read with to the carrying values of assets and liabilities
Rule 3 of the Companies (Indian Accounting within the next financial year are discussed below.
Notes 1 to 43 are an integral part of these Standalone Financial Statements
As per our report of even date attached For and on behalf of the Board Standards) Rules, 2015 and other relevant
For B S R & Co. LLP N. Chandrasekaran Chairman provisions of the Act. 2.3.1 Deferred income tax assets and liabilities
Chartered Accountants (DIN: 00121863)
Firm's Registration No: 101248W/W - 100022 Padmini Khare Kaicker Director 2.2 Basis of preparation and presentation Significant management judgment is required to
(DIN: 00296388) determine the amount of deferred tax assets that
R. Mukundan Managing Director and CEO The Standalone Financial Statements have been can be recognised, based upon the likely timing
(DIN: 00778253) prepared on the historical cost basis, except
Vijay Mathur Nandakumar S. Tirumalai Chief Financial Officer and the level of future taxable profits.
Partner (ICAI M. No.: 203896) for certain financial instruments and defined
Membership No. 046476 Rajiv Chandan Chief General Counsel & Company Secretary benefit plans which are measured at fair value The amount of total deferred tax assets could
Mumbai, May 3, 2023 (ICSI M. No.: FCS 4312)
at the end of each reporting period. Historical change if management estimates of projected
cost is generally based on the fair value of the future taxable income or if tax regulations
consideration given in exchange for goods and undergo a change.
services. Fair value is the price that would be
received to sell an asset or paid to transfer a 2.3.2 Useful lives of property, plant and equipment
liability in an orderly transaction between market (‘PPE’) and intangible assets
participants at the measurement date. Management reviews the estimated useful
lives and residual value of PPE and Intangibles
All assets and liabilities have been classified as at the end of each reporting period. Factors
current or non-current as per the Company’s such as changes in the expected level of usage,
normal operating cycle and other criteria set out technological developments and product life-
in the Schedule III to the Act. cycle, could significantly impact the economic
useful lives and the residual values of these
2.3 Critical accounting estimates, assumptions assets. Consequently, the future depreciation
and judgements charge could be revised and may have an impact
The preparation of the Standalone Financial on the profit of the future years.
Statements requires management to make

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