Page 237 - Tata_Chemicals_yearly-reports-2017-18

(II) Disposal of Phosphatic Fertilisers business and Trading business of bulk and non-bulk fertilisers
The Group has entered into an agreement with IRC Agrochemicals Private limited (‘IRC’) and Indorama Holdings BV, Netherlands
(Parent company of IRC) to transfer its Phosphatic Fertilisers business and Trading business (which comprises of manufacturing
facilities for phosphatic fertilisers at Haldia Plant), by way of a slump sale for a consideration of ` 375.00 crore (subject to
certain adjustments). The effect of the transfer will be reflected in the financial information of the period in which the deal is
consummated post receipt of all the requisite regulatory approvals.
The financial performance and cash flows for Urea Business (till the date of sale) and Phosphatic Fertilisers business and Trading
business of bulk and non-bulk fertilisers:
(a) Analysis of profit from discontinued operations
` in crore
Particulars Year ended Year ended
31 March, 2018 31 March, 2017 Integrated Report
Profit for the year from discontinued operations
Revenue from operations (footnote ‘i’) 4,086.91 4,616.80
Other income 0.34 0.04
4,087.25 4,616.84
Expenses
Depreciation 12.58 40.28
Other expenses 3,636.95 4,390.97
Profit before exceptional item and tax 437.72 185.59
Exceptional gain (net)
Profit on sale of discontinued operation 1,279.39 -
Impairment of assets (footnote 'ii') (65.40) - Statutory Reports
Profit before tax 1,651.71 185.59
Tax expense 167.60 72.12
Tax on sale of discontinued operations 341.62 -
Profit after tax 1,142.49 113.47
Footnotes:
(i) Revenue from operations includes subsidy income of ` 1,979.51 crore (2017: ` 2,012.42 crore)
(ii) The shortfall between the carrying value of net PPE and the recoverable value.

(b) Net cash flows attributable to the discontinued operations
` in crore
Particulars Year ended Year ended
31 March, 2018 31 March, 2017 Financial Statements
Net cash (outflows)/inflows from operating activities 240.47 3.25
Net cash used in investing activities (29.58) (26.93)
Net cash (outflows)/inflows from financing activities (209.99) 23.88
Net cash inflows 0.90 0.20

Consolidated Financial Statements 235