Page 285 - Tata Chemical Annual Report_2022-2023

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

` in crore Notes forming part of the Consolidated Financial Statements
Year ended Year ended
Particulars
March 31, 2023 March 31, 2022 2.3 Critical accounting estimates, assumptions
C Cash flows from financing activities 1. Corporate Information and judgements
Proceeds from borrowings 3,892 2,992 Tata Chemicals Limited (the ‘Company’) is a public limited
Repayment of borrowings (5,087) (3,032) company domiciled in India. Its shares are listed on two The preparation of the CFS requires management
Repayment towards lease liabilities (119) (109) stock exchanges in India; the Bombay Stock Exchange to make estimates, assumptions and judgments
Finance costs paid (344) (255) (‘BSE’) and the National Stock Exchange (‘NSE’). The that affect the reported balances of assets and
Payment of dividend to non-controlling interests (100) (96) Company and its subsidiaries (collectively the ‘Group’) is liabilities and disclosures as at the date of the
Bank balances in dividend and restricted account 1 - a diversified business dealing in basic chemistry products Consolidated Financial Statements and the
reported amounts of income and expense for the
Dividends paid (319) (255) and specialty products. The Group also has interests in Joint periods presented.
Net cash used in financing activities (2,076) (755) ventures and an associate.
Net (decrease)/increase in cash and cash equivalents (291) 54 The estimates and associated assumptions are based
Cash and cash equivalents as at April 1 762 689 The Group has a global presence with key subsidiaries in on historical experience and other factors that are
Exchange difference on translation of foreign currency cash and cash equivalents 37 19 United States of America (USA), United Kingdom (UK) and considered to be relevant. Actual results may differ
Cash and cash equivalents as at March 31 (note 15) 508 762 Kenya that are engaged in the manufacture and sale of soda from these estimates under different assumptions
Footnote: ash, industrial salt and related products. The Group has a and conditions.
Reconciliation of borrowings and lease liabilities subsidiary in India that is engaged in Speciality products.
Estimates and underlying assumptions are reviewed
` in crore
Year ended Year ended 2. Summary of basis of compliance, basis on an ongoing basis. Revisions to accounting
March 31, 2023 March 31, 2022 of preparation and presentation, critical estimates are recognised in the period in which
the estimates are revised and future periods
Non-current borrowings (note 19) 5,540 3,725 accounting estimates, assumptions and are affected.
Non-current lease liabilities (note 39) 137 135 judgements and significant accounting
Current borrowings (note 19) 543 3,077 policies The estimates and assumptions that have a significant
Current maturities of lease liabilities (note 39) 76 87 2.1 Basis of compliance risk of causing a material adjustment to the carrying
Liabilities/(Assets) held to hedge non-current borrowings (net) (note 42) (20) 14 The Consolidated Financial Statements (‘CFS’) comply, values of assets and liabilities within the next financial
6,276 7,038 year are discussed below.
Proceeds from borrowings 3,892 2,992 in all material aspects, with Indian Accounting
Repayment of borrowings of continuing operations (5,087) (3,032) Standards (‘Ind AS’) notified under Section 133 of the 2.3.1 Impairment of goodwill, goodwill on consolidation
Repayment towards lease liabilities (119) (109) Companies Act, 2013 (‘the Act’) read with Rule 3 of and other intangible assets
Lease liabilities pertaining to Right-of-use assets (net) 98 45 Companies (Indian Accounting Standards) Rules, 2015 Goodwill and other Intangible assets are tested
Unrealised foreign exchange loss (net) 458 175 and other relevant provisions of the Act. for impairment at least on an annual basis or more
Fair value changes (net) (34) (49) 2.2 Basis of preparation and presentation frequently, whenever circumstances indicate that
Unamortised finance cost 30 21 the recoverable amount of the cash generating unit
Movement of borrowings (net) (762) 43 The Consolidated Financial Statements have been (‘CGU’) is less than its carrying value. The impairment
prepared on the historical cost basis, except for certain
The Statement of Cash Flow is prepared using indirect method as prescribed under Ind AS 7. indicators, the estimation of expected future cash
financial instruments and defined benefit plans which flows and the determination of the fair value of
are measured at fair value at the end of each reporting CGU require the Management to make significant
Notes 1 to 50 are an integral part of these Consolidated Financial Statements
As per our report of even date attached For and on behalf of the Board period. Historical cost is generally based on the fair estimates, assumptions and judgments. These are
For B S R & Co. LLP N. Chandrasekaran Chairman value of the consideration given in exchange for in respect of revenue growth rates and operating
Chartered Accountants (DIN: 00121863) goods and services. Fair value is the price that would
Firm's Registration No: 101248W/W - 100022 Padmini Khare Kaicker Director margins used to calculate projected future cash flows,
(DIN: 00296388) be received to sell an asset or paid to transfer a liability relevant risk-adjusted discount rate, future economic
R. Mukundan Managing Director and CEO in an orderly transaction between market participants and market conditions, etc.
(DIN: 00778253)
Vijay Mathur Nandakumar S. Tirumalai Chief Financial Officer at the measurement date.
Partner (ICAI M. No.: 203896) 2.3.2 Deferred income tax assets and liabilities
Membership No. 046476 Rajiv Chandan Chief General Counsel & Company Secretary All assets and liabilities have been classified as current Significant management judgment is required to
Mumbai, May 3, 2023 (ICSI M. No.: FCS 4312)
or noncurrent as per the Group’s normal operating determine the amount of deferred tax assets that can
cycle and other criteria set out in the Schedule III to be recognised, based upon the likely timing and the
the Act. level of future taxable profits.

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