Description of state of companies affair The consolidated financial statements of your Company include the performance of its subsidiaries, joint ventures and associates (group) and depicts the comprehensive performance of the group relevant for understanding the overall performance of group across the globe. The standalone financial statements of the Company reflect the performance of the Company on standalone basis. The financial statements for the financial year ended on March 31, 2019 and March 31, 2020 have been prepared in accordance with IndAS as prescribed under Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India. During the financial year, the total income of your Company, on a standalone basis, has increased from Rs. 12,550.82 Mn. to Rs. 24,857.60 Mn., recording a growth of approx. 100% over the previous year. The total expenses during the year have increased from Rs. 33,835.65 Mn. to Rs. 46,277.59 Mn. in the current year. During the financial year, your Company has incurred a loss after tax of Rs. 24,511.77 Mn. as compared to the previous financial year loss after tax of Rs. 9,404.67 Mn. On a consolidated basis, the total income of your Company is Rs. 27,427.39 Mn. as compared to Rs. 13,970.06 Mn. in the previous financial year, thereby recording a growth of approx. 100% over the previous year . The total expenses during the year have increased from Rs. 35,980.41 Mn. to Rs. 50,063.11 Mn. in the current year. The Loss after tax for the financial year from Rs. 10,011.15 Mn. to Rs. 23,856.01 Mn. in the financial year under review. Details regarding energy conservation1. Conservation of Energy 2. Steps taken for conservation 3. Steps taken for utilizing alternate sources of energy Details regarding technology absorptionTechnology Absorption: Efforts made for technology absorption Benefits derived Expenditure on Research & Development, if any Details of technology imported, if any Year of import Whether imported technology fully absorbed Areas where absorption of imported technology has not taken place, if any Details regarding foreign exchange earnings and outgo*Foreign Exchange Earnings/ Outgo The Foreign Exchange earned in terms of actual inflows during the financial year: 2,709.79 The Foreign Exchange outgo during the financial year in terms of actual outflows: 2,524.44 *Foreign Exchange Earnings and Outgo are on accrual basis. Disclosures in director’s responsibility statementIn accordance with the provisions of Section 134(5) of the Act, your directors confirm that: a) In the preparation of the annual accounts for the financial year ended on March 31, 2020, the applicable accounting standards have been followed along with proper explanation relating to material departures; b) The directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2020 and the statement of the of the profit /loss of the Company for that period; c) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d) The directors have prepared the annual accounts on a going concern basis; e) The directors have laid down adequate internal financial controls with respect to financial statements; and f) The directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. |