Balance sheet as at 31 March 2021

Particulars Notes 31 March 2021 31 March 2020

Rs in Million Rs in Million
Assets
Non-current assets
Property, plant and equipment 3 16,068.7 16,808.7
Right of Use Assets 40 113.6 119.3
Capital work-in-progress 3 189.1 159.9
Intangible assets 4 2.1 2.3
Financial assets
Security deposits 5 287.7 287.7
Loans 5 1,500.0 -
Other non-current assets 6 331.0 309.1
18,492.2 17,687.0
Current assets
Inventories 7 1,607.1 1,457.6
Financial assets
Security deposits 5 148.9 138.2
Trade receivables 8 333.2 256.7
Cash and bank balances 9 4,302.7 4,697.4
Bank Balances other than Cash and cash equivalents 9 13.8 8.8
Other financial assets 5 808.8 670.9
Other current assets 10 2,747.5 3,011.7
9,962.0 10,241.3
Total assets 28,454.2 27,928.3

Equity and liabilities

Equity
Equity share capital 11 2,266.2 2,266.2
Other equity 12 12,672.7 10,880.2
14,938.9 13,146.4
Non-current liabilities
Financial liabilities
Borrowings 13 1,744.9 2,800.6
Other financial liabilities 14 46.8 39.7
Lease Liability 40 74.5 76.7
Provisions 15 172.1 167.2
Government grants 16 359.4 504.7
Deferred tax liabilities (net) 17 1,937.5 1,902.6
4,335.2 5,491.5
Current liabilities
Financial liabilities
Trade payables 18
- Total outstanding dues of micro enterprises 7.8 4.2
and small enterprises
- Total outstanding dues of creditors other
than micro enterprises and small enterprises 2,698.5 2,580.0
Other current financial liabilities 19 3,253.9 3,270.2
Other current liabilities 20 874.4 618.7
Government grants 16 145.3 145.3
Provisions 15 2,200.2 2,672.0
9,180.1 9,290.4
Total liabilities 13,515.3 14,781.9
Total equity and liabilities 28,454.2 27,928.3
Summary of significant accounting policies 2.1

The accompanying notes are an integral part of the financial statements.

As per our report of even date
For S.N. Dhawan & Co. LLP For and on behalf of the Board of Directors of
Firm Registration No. 000050N/N500045 HeidelbergCement India Limited
Chartered Accountants

Rajeev K Saxena Anil Kumar Sharma Akila Krishnakumar Ramakrishnan Ramamurthy Jamshed Naval Cooper
Partner Chief Financial Officer Chairperson Director Managing Director
Membership No. 077974 DIN:06629992 DIN:00680202 DIN:01527371

Rajesh Relan Sushil Kumar Tiwari

Place: Gurugram Legal Head & Whole-time Director
Date: 28 May 2021 Company Secretary DIN:03265246

98 | HeidelbergCement India Ltd.

 STATUTORY REPORTS FINANCIAL STATEMENTS

Statement of profit and loss for the year ended 31 March 2021
Particulars Notes 31 March 2021 31 March 2020
Rs in Million Rs in Million
Revenue from operations 21 21,166.7 21,696.2
Other income 22 464.6 527.3
Total Income (I) 21,631.3 22,223.5

Expenses
Cost of raw material consumed 23 3,685.5 3,835.9
(Increase) / decrease in inventories of finished goods and 24 39.2 50.6
work-in-progress
Employee benefits expense 25 1,273.4 1,311.9
Depreciation and amortization expense 26 1,110.3 1,086.1
Finance costs 27 508.5 738.5
Other expenses 28 11,102.2 11,219.9
Total Expense (II) 17,719.1 18,242.9
Profit before tax (I) - (II) 3,912.2 3,980.6
Tax expenses
Current tax 729.3 691.7
Deferred tax charge 33.4 608.3
Total tax expense 762.7 1,300.0
Profit for the year (III) 3,149.5 2,680.6
Other comprehensive income
Remeasurement gain / (losses) of net defined benefit plans 4.2 (25.7)
Income tax effect (1.5) 9.0
Other comprehensive income for the year, net of tax (IV) 2.7 (16.7)
Total comprehensive income for the year, net of tax (III) + (IV) 3,152.2 2,663.9
Earnings per share [nominal value of share Rs 10]
Basic and diluted 29 13.90 11.83
Summary of significant accounting policies 2.1

The accompanying notes are an integral part of the financial statements.

As per our report of even date

For S.N. Dhawan & Co. LLP For and on behalf of the Board of Directors of
Firm Registration No. 000050N/N500045 HeidelbergCement India Limited
Chartered Accountants

Rajeev K Saxena Anil Kumar Sharma Akila Krishnakumar Ramakrishnan Ramamurthy Jamshed Naval Cooper
Partner Chief Financial Officer Chairperson Director Managing Director
Membership No. 077974 DIN:06629992 DIN:00680202 DIN:01527371

Rajesh Relan Sushil Kumar Tiwari

Place: Gurugram Legal Head & Whole-time Director
Date: 28 May 2021 Company Secretary DIN:03265246

Annual Report 2020-21 | 99

 Statement of change in equity for the year ended 31 March 2021
a. Equity Share Capital:
Equity shares of Rs. 10 each issued, subscribed and fully paid Numbers Rs. in million
At 31 March 2019 226,613,116 2,266.1
At 31 March 2020 226,613,116 2,266.1
At 31 March 2021 226,613,116 2,266.1

Equity shares of Rs. 10 each issued, subscribed and partly paid Numbers Rs. in million
At 31 March 2019 18,193 0.1
At 31 March 2020 18,193 0.1
At 31 March 2021 18,193 0.1

b. Other equity:
For the year ended 31 March 2021 (Rs in Million)
Other Equity (Refer - Note 12) Total
Reserves and Surplus
Particulars Capital Capital Capital Securities Debenture Retained Other
Reserve Subsidy redemption Premium redemption earnings item of
reserve reserve reserve OCI
As at 1 April 2020 672.8 6.4 159.9 3,707.1 710.1 5,656.6 (32.7) 10,880.2
Profit for the year - - - - - 3,149.5 - 3,149.5
Dividend on equity shares - - - - - (1,359.7) - (1,359.7)
Other comprehensive income - - - - - - 2.7 2.7
Total comprehensive income - - - - - 1,789.8 2.7 1,792.5
Transfer from retained earning - - - - - - - -
At 31 March 2021 672.8 6.4 159.9 3,707.1 710.1 7,446.4 (30.0) 12,672.7

For the year ended 31 March 2020

Other Equity (Refer -Note 12) Total
Reserves and Surplus
Particulars Capital Capital Capital Securities Debenture Retained Other
Reserve Subsidy redemption Premium redemption earnings item of
reserve reserve reserve OCI
As at 1 April 2019 672.8 6.4 159.9 3,707.1 710.1 4,205.4 (16.0) 9,445.7
Profit for the year - - - - - 2,680.6 - 2,680.6
Dividend on equity shares - - - - - (1,019.8) - (1,019.8)
Dividend distribution tax on dividend - - - - - (209.6) - (209.6)
Other comprehensive income - - - - - - (16.7) (16.7)
Total comprehensive income - - - - - 1,451.2 (16.7) 1,434.5
Transfer from retained earning - - - - - - - -
At 31 March 2020 672.8 6.4 159.9 3,707.1 710.1 5,656.6 (32.7) 10,880.2
As per our report of even date

For S.N. Dhawan & Co. LLP For and on behalf of the Board of Directors of
Firm Registration No. 000050N/N500045 HeidelbergCement India Limited
Chartered Accountants

Rajeev K Saxena Anil Kumar Sharma Akila Krishnakumar Ramakrishnan Ramamurthy Jamshed Naval Cooper
Partner Chief Financial Officer Chairperson Director Managing Director
Membership No. 077974 DIN:06629992 DIN:00680202 DIN:01527371

Rajesh Relan Sushil Kumar Tiwari

Place: Gurugram Legal Head & Whole-time Director
Date: 28 May 2021 Company Secretary DIN:03265246

100 | HeidelbergCement India Ltd.

 STATUTORY REPORTS FINANCIAL STATEMENTS

Cash flow statement for the year ended 31 March 2021

Particulars Notes 31 March 2021 31 March 2020
Rs in Million Rs in Million
Cash flow from operating activities
Profit before tax 3,912.2 3,980.6
Non-cash adjustment to reconcile profit before tax to net cash flows:
Depreciation and amortization expense 1,110.3 1,086.1
Property, plant and equipment written off 27.8 17.7
Profit on sale of property, plant and equipment (net) (27.6) -
Unrealized foreign exchange loss / (gain) 4.1 6.7
Provision / liabilities no longer required written back (72.3) (84.2)
Government grants (145.3) (145.3)
Interest expenses 483.2 705.0
Interest income (218.0) (296.1)
Operating profit before working capital changes 5,074.4 5,270.5
Movements in working capital:
Increase / (decrease) in trade payables and other payables 565.4 (177.8)
Increase / (decrease) in provisions and gratuity (462.7) 274.0
Decrease / (increase) in trade receivables (76.5) (3.5)
Decrease / (increase) in inventories (149.5) 216.6
Decrease / (increase) in other current and non-current assets 115.5 (241.8)
Cash generated from operations 5,066.6 5,338.0
Direct taxes paid (net of refunds) (672.1) (750.6)
Net cash flow from operating activities (A) 4,394.5 4,587.4
Cash flows from investing activities
Purchase of property, plant and equipment including capital (484.6) (435.4)
work-in-progress and capital advances
Proceeds from sale of property, plant and equipment 29.1 0.1
Loan to fellow subsidiary (1,500.0) -
Increase in other bank balances (unpaid dividend) (5.0) (2.8)
Interest received 228.6 297.1
Net cash flow used in investing activities (B) (1,731.9) (141.0)
Cash flows from financing activities
Repayments of borrowings (1,250.0) (1,250.0)
Dividend and Tax Paid there on (1,354.7) (1,226.6)
Lease repayment (70.8) (70.3)
Interest paid (363.3) (591.3)
Net cash flow used in financing activities (c) (3,038.8) (3,138.2)
Net increase / (decrease) in cash and cash equivalents (A + B + C) (376.2) 1,308.2
Cash and cash equivalents at the beginning of the year 4,678.9 3,370.7
Cash and cash equivalents at the end of the year 9 4,302.7 4,678.9
Notes:
1. The Statement of Cash flows has been prepared under the indirect method as set out in Ind AS-7 specified under Section 133
of the Act.
2. Changes in liabilities arising from financing activities:
Particulars 31 March Cash Non Cash 31 March
2020 flows changes 2021
Non-Current Borrowing (including current 4,050.6 (1,250.0) 144.3 2,944.9
maturities of Non-Current Borrowing) 31 March Cash Non Cash 31 March
2019 flows changes 2020
5,168.2 (1,250.0) 132.4 4,050.6
Summary of significant accounting policies Note 2.1
The accompanying notes are an integral part of the financial statements.
As per our report of even date
For S.N. Dhawan & Co. LLP For and on behalf of the Board of Directors of
Firm Registration No. 000050N/N500045 HeidelbergCement India Limited
Chartered Accountants
Rajeev K Saxena Anil Kumar Sharma Akila Krishnakumar Ramakrishnan Ramamurthy Jamshed Naval Cooper
Partner Chief Financial Officer Chairperson Director Managing Director
Membership No. 077974 DIN:06629992 DIN:00680202 DIN:01527371
Rajesh Relan Sushil Kumar Tiwari
Place: Gurugram Legal Head & Whole-time Director
Date: 28 May 2021 Company Secretary DIN:03265246 Annual Report 2020-21 | 101