XBRL Financial Statements Duly Authenticated As Per Section 134 (Including Board

AURORA INTEGRATED SYSTEMS PRIVATE LIMITED
Standalone Financial Statements for period 01/04/2018 to 31/03/2019

AURORA INTEGRATED SYSTEMS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2018 to 31/03/2019
[700300] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Corporate identity number U72900TG2006PLC077939
Permanent account number of entity AACCT5245K
HARDWARE PARK, PLOT NO 21
, SY NO 1/1, IMARAT KANCHA
RAVIRYALA VILLAGE ,
Address of registered office of company MAHESHWARAM MANDAL
HYDERABAD HYDERABAD ,
TELANGANA , INDIA - 501218
Commercial and
Type of industry Industrial
Registration date 19/09/2006
C o m p a n y
Category/sub-category of company Limited by Shares / Indian
Non-Government Company
Whether company is listed company No
Date of board meeting when final accounts were approved 09/05/2019
1 2 1 2
Period covered by financial statements m o n t h s months
Date of start of reporting period 01/04/2018 01/04/2017

Date of end of reporting period 31/03/2019 31/03/2018
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Lakhs
Type of cash flow statement Indirect Method
Name of registrar and transfer agent Not Applicable
Address and contact details of registrar and transfer agent Not Applicable
Whether company is maintaining books of account and other relevant
Yes
books and papers in electronic form
HARDWARE PARK,
PLOT NO 21 , SY NO 1/1,
IMARAT KANCHA RAVIRYALA
VILLAGE , MAHESHWARAM
Complete postal address of place of maintenance of computer
MANDAL HYDERABAD
servers (storing accounting data) HYDERABAD , TELANGANA ,
I N D I A -
5 0 1 2 1 8
Name of city of place of maintenance of computer servers (storing

accounting data) Hyderabad
Name of state/ union territory of place of maintenance of

computer servers (storing accounting data) Telangana
Pin code of place of maintenance of computer servers (storing

accounting data) 5 0 1 2 1 8
Name of district of place of maintenance of computer servers

(storing accounting data) Hyderabad
ISO country code of place of maintenance of computer servers I N D

(storing accounting data) 9 1
2
Name of country of place of maintenance of computer servers

(storing accounting data) I N D I A
Phone (with STD/ ISD code) of place of maintenance of computer

servers (storing accounting data) 040-66447438
Disclosure of principal product or services [Table] ..(1)

Types of principal product or services [Axis] 1
01/04/2018
to
31/03/2019
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 8803
PRTS OF GOODS OF HDG
Description of product or service category NO.8801 OR 8802
Turnover of product or service category (A) 43,294
Highest turnover contributing product or service (ITC 8 digit) code 88033000
OTHR PRTS OF
Description of product or service AEROPLANES/HELICOPTERS
Turnover of highest contributing product or service 43,294
Footnotes
(A)
Sale of Goods 39671
Sale of Services 3623
TOTAL 43294
[700600] Disclosures - Directors report
Details of shareholding of promoters [Table] ..(1)

Promoters [Axis] 1
01/04/2018
to 31/03/2018
31/03/2019
[shares]
Total number of shares held at end of period [shares] 54,81,71,157
54,81,71,157
Percentage of total shares held at end of period 100.00% 100.00%
Percentage of change in shares held during year 0.00%
Details of shareholding of promoters [Abstract]
Details of shareholding of promoters [LineItems]
TATA SONS PRIVATE
Shareholder’s name LIMITED
[shares]
54,81,71,157
Percentage of shares pledged/encumbered to total shares at end of period 0.00% 0.00%
Percentage of change in shares held during year 0.00%
[shares]
54,81,71,157
[shares]
54,81,71,157
[shares]
54,81,71,157
3
Particulars of holding, subsidiary and associate companies [Table] ..(1)

Particulars of companies [Axis] 1 2 3 4
01/04/2018 01/04/2018 01/04/2018 01/04/2018
to to to to
31/03/2019 31/03/2019 31/03/2019 31/03/2019
Particulars of holding, subsidiary and
associate
companies [Abstract]
associate
companies [LineItems]
TATA LOCKHEED
TATA SONS PRIVATE TATA SIKORSKY M A R T I N TATA BOEING
Name of company LIMITED AEROSPACE LIMITED AEROSTRUCTURES AEROSPACE LIMITED
LIMITED
Hardware Park, Plot No. 21, Hardware Park, Plot No. 21, Hardware Park, Plot No. 21,
Bombay House, 24 Homi Survey No. 1/1, Imarat Survey No. 1/1, Imarat Survey No. 1/1, Imarat
Address of company Mody Street, Mumbai - Kancha, Maheshwaram Kancha, Maheshwaram Kancha, Maheshwaram
400001, Maharashtra, India (M), Raviryala (V), (M), Raviryala (V), (M), Raviryala (V),
Hyderabad - 501218 Hyderabad - 501218 Hyderabad - 501218
Country of incorporation of
INDIA INDIA INDIA
company
CIN of company U99999MH1917PTC000478 U74990TG2008PLC077969 U29268TG2010PLC077940 U74120TG2015PLC101585
Type of company Holding company Subsidiary company Subsidiary company Subsidiary company
Percentage of shares held 100.00% 74.00% 74.00% 51.00%
2 (46) of the Companies 2 (87) (ii) of the Companies 2 (87) (ii) of the Companies 2 (87) (ii) of the Companies
Applicable section Act, 2013 Act, 2013 Act, 2013 Act, 2013

Particulars of companies [Axis] 5 6 7 8
01/04/2018 01/04/2018 01/04/2018 01/04/2018
to to to to
31/03/2019 31/03/2019 31/03/2019 31/03/2019
associate
companies [Abstract]
associate
companies [LineItems]
AURORA INTEGRATED
HELA SYSTEMS NOVA INTEGRATED
Name of company PRIVATE LIMITED SYSTEMS LIMITED
TASEC LIMITED SYSTEMS PRIVATE
LIMITED
8th Floor, NCC Urban
Hardware Park, Plot No. 21,
Plot No. 22-23, Pragati Windsor Building, Sy. No
Survey No. 1/1, Imarat Bombay House, 24, Homi
Industrial Area Near ECIL, 76/2 17/1, Bellary Road,
Address of company Kushaiguda Hyderabad TG
Kancha, Maheshwaram Mody Street, Fort, Mumbai
Yashoda Nagar, Yelahanka
(M), Raviryala (V), MH 400001 INDIA
500062 IN Bengalaru Karnataka
Hyderabad - 501218
560064
Country of incorporation of
INDIA INDIA INDIA INDIA
company
CIN of company U31909TG2004PTC042753 U74990TG2008PLC099481 U72900MH2008PLC188713 U74120KA2006PTC082507
Type of company Subsidiary company Subsidiary company Subsidiary company Subsidiary company
Percentage of shares held 74.00% 100.00% 100.00% 100.00%
2 (87) (ii) of the Companies 2 (87) (ii) of the Companies 2 (87) (ii) of the Companies 2 (87) (ii) of the Companies
Applicable section Act, 2013 Act, 2013 Act, 2013 Act, 2013
4

Particulars of companies [Axis] 9 10
01/04/2018 01/04/2018
to to
31/03/2019 31/03/2019
Particulars of holding, subsidiary and associate companies [Abstract]
Particulars of holding, subsidiary and associate companies [LineItems]
T A S L
TAL MANUFACTURING
Name of company AEROSTRUCTURES
SOLUTIONS LIMITED
PRIVATE LIMITED
Bombay House, 24, Homi PDO Building, Tata Motors
Address of company Mody Street, Fort, Mumbai Campus, Chinchwad,
MH 400001 IN Pune-411033, Maharahstra
Country of incorporation of company INDIA INDIA
CIN of company U29119MH2008PTC187825 U29100PN2000PLC130290
Type of company Subsidiary company Subsidiary company
Percentage of shares held 100.00% 100.00%
2 (87) (ii) of the Companies 2 (87) (ii) of the Companies
Applicable section Act, 2013 Act, 2013
Details of directors signing board report [Table] ..(1)

Directors signing board report [Axis] 1
01/04/2018
to
31/03/2019
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director VIJAY
Last name of director SINGH
Designation of director CHAIRMAN
Director identification number of director 06610802
Date of signing board report 09/05/2019
5
Details of change in promoters’ shareholding [Table] ..(1)

Promoters [Axis] 1
Shareholding at beginning of year
Change in shareholding [Axis] Shareholding [Member]
[Member]
01/04/2018
31/03/2019 31/03/2018 to 31/03/2018
31/03/2019
[shares] [shares]
Total number of shares held at end of period 54,81,71,157
[shares] 54,81,71,157 [shares] 54,81,71,157
54,81,71,157
Percentage of total shares held at end of period 100.00% 100.00% 100.00% 100.00%
[shares] [shares]
[shares] 54,81,71,157 [shares] 54,81,71,157
54,81,71,157
Details of change in promoters’ shareholding
[Abstract]
Details of change in promoters’ shareholding
[LineItems]
TATA SONS PRIVATE
Name of promoter LIMITED
Increase decrease in shareholding during year [shares] 0
Percentage increase decrease in
0.00%
shareholding during year
[shares] [shares]
[shares] 54,81,71,157 [shares] 54,81,71,157
54,81,71,157
Percentage of total shares held at end of
100.00% 100.00% 100.00% 100.00%
period
Percentage increase decrease in shareholding
0.00%
during year
[shares] [shares]
[shares] 54,81,71,157 [shares] 54,81,71,157
54,81,71,157
Percentage increase decrease in
0.00%
shareholding during year
[shares] [shares]
[shares] 54,81,71,157 [shares] 54,81,71,157
54,81,71,157
100.00% 100.00% 100.00% 100.00%
period
Details of indebtedness of company [Table] ..(1)

Secured loans excluding deposits
Indebtedness [Axis] Unsecured loans [Member]
[Member]
01/04/2018 01/04/2018
to 31/03/2018 to 31/03/2018
31/03/2019 31/03/2019
Details of indebtedness of company [Abstract]
Details of indebtedness of company [LineItems]
Changes in indebtedness [Abstract]
Addition in indebtedness 12,763 0
Reduction in indebtedness 0 0
Total changes in indebtedness 12,763 0
Principal amount at end of financial year 26,166 13,403 0 0
Interest due but not paid at end of financial
25 21 0 0
year
Interest accrued but not due at end of
47 7 0 0
financial year
Total indebtedness at end of financial year 26,238 13,431 0 0
6
Details of indebtedness of company [Table] ..(2)

Indebtedness [Axis] Deposits [Member]
01/04/2018
to 31/03/2018
31/03/2019
Details of indebtedness of company [LineItems]
Addition in indebtedness 0
Reduction in indebtedness 0
Total changes in indebtedness 0
Principal amount at end of financial year 0 0
Interest due but not paid at end of financial year 0 0
Interest accrued but not due at end of financial year 0 0
Total indebtedness at end of financial year 0 0
Details of shareholding pattern [Table] ..(1)

Shareholding pattern [Axis] Promoters [Member] Indian [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Details of shareholding pattern [Abstract]
Details of shareholding pattern [LineItems]
Number of demat shares held at end of period [shares] 0 [shares] 0 [shares] 0 [shares] 0
[shares] [shares]
Number of physical shares held end of period 54,81,71,157
[shares] 54,81,71,157
54,81,71,157
[shares] 54,81,71,157
[shares] [shares]
[shares] 54,81,71,157
54,81,71,157
[shares] 54,81,71,157
[shares] [shares]
[shares] 54,81,71,157
54,81,71,157
[shares] 54,81,71,157
[shares] [shares]
[shares] 54,81,71,157
54,81,71,157
[shares] 54,81,71,157

100.00% 100.00% 100.00% 100.00%
period
[shares] [shares]
[shares] 54,81,71,157
54,81,71,157
[shares] 54,81,71,157
[shares] [shares]
[shares] 54,81,71,157
54,81,71,157
[shares] 54,81,71,157

100.00% 100.00% 100.00% 100.00%
period
7
Details of shareholding pattern [Table] ..(2)

Shareholding pattern [Axis] Corporate bodies [Member]
31/03/2019 31/03/2018
Details of shareholding pattern [LineItems]
Number of demat shares held at end of period [shares] 0 [shares] 0
[shares]
Number of physical shares held end of period 54,81,71,157
[shares] 54,81,71,157
[shares]
[shares] 54,81,71,157

[shares]
[shares] 54,81,71,157

[shares]
[shares] 54,81,71,157

[shares]
[shares] 54,81,71,157

[shares]
[shares] 54,81,71,157
Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1)
Product/service 1
Principal business activities of company [Axis]
[Member]
01/04/2018
to
31/03/2019
Details of principal business activities contributing 10% or more of total turnover of company [Abstract]
Details of principal business activities contributing 10% or more of total turnover of company
[LineItems]
Aircraft structural
Name of main product/service assemblies
Aircraft structural
Description of main product/service assemblies
NIC code of product/service 30305
Percentage to total turnover of company 97.00%
Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Material contracts/arrangements/transactions at arm's length basis [Axis] 1 2
01/04/2018 01/04/2018
to to
31/03/2019 31/03/2019
Details of material contracts/arrangements/transactions at arm's length basis [Abstract]
Details of material contracts/arrangements/transactions at arm's length basis
[LineItems]
TATA SIKORSKY TATA BOEING
AEROSPACE AEROSPACE
Name of related party LIMITED - Joint LIMITED - Joint
venture venture
Description of nature of material contracts/arrangements/transactions with Purchase of Raw Sale of Goods and
related party material Tools
Long term Long term
Duration of material contracts/arrangements/transactions with related party agreements - On agreements - On
going going
Amount paid as advances if any for material contracts/arrangements/transactions
(A) 83.88 (B) -424.1
with related party
Footnotes
(A) Advance paid to vendor 83.88
(B) Advance received from customer 424.10
8

01/04/2018
to
31/03/2019
Textual information (1)
Disclosure in board of directors report explanatory [TextBlock] [See below]
Description of state of companies affair [See below]
Disclosure relating to amounts if any which is proposed to carry to any Textual information (3)
reserves [See below]
DIVIDEND
Disclosures relating to amount recommended to be paid as dividend N o

dividend has been
declared
during the year
under review.
Details regarding energy conservation [See below]
Details regarding technology absorption [See below]
Details regarding foreign exchange earnings and outgo [See below]
Disclosures in director’s responsibility statement [See below]
Details of material changes and commitment occurred during period Textual information (8)
affecting financial position of company [See below]
Particulars of loans guarantee investment under section 186 [TextBlock] [See below]
Particulars of contracts/arrangements with related parties under section Textual information (10)
188(1) [TextBlock] [See below]
Details of contracts/arrangements/transactions not at arm's length
basis [Abstract]
Whether there are contracts/arrangements/transactions not at arm's
No
length basis
Details of material contracts/arrangements/transactions at arm's
length basis [Abstract]
Whether there are material contracts/arrangements/transactions at
Yes
arm's length basis
Details of statement indicating manner in which formal
annual evaluation made by board of its performance and of its [See below]
committees and individual directors [TextBlock]
Date of board of directors' meeting in which board's report referred
09/05/2019
to under section 134 was approved
Disclosure of extract of annual return as provided under section 92(3) Textual information (12)
[TextBlock] [See below]
Details of principal business activities contributing 10% or more
of total turnover of company [Abstract]
Particulars of holding, subsidiary and associate companies [Abstract]
Details of shareholding of promoters [Abstract]
Details of change in promoters shareholding [TextBlock] [See below]
Details of change in promoters’ shareholding [Abstract]
Details of shareholding pattern of top 10 shareholders [Abstract]
Details of shareholding pattern of directors and key managerial
N o t
personnel [TextBlock] Applicable
Details of shareholding pattern of directors and key managerial
personnel [Abstract]
Disclosure of statement on declaration given by independent directors Textual information (14)
under section 149(6) [TextBlock] [See below]
Reappointment of independent directors as per section 149(10) [TextBlock] [See below]
Disclosure for companies covered under section 178(1) on
directors appointment and remuneration including other matters .
provided under section 178(3) [TextBlock]
Disclosure of statement on development and implementation of risk Textual information (16)
management policy [TextBlock] [See below]
9
Details on policy development and implementation by company on

corporate social responsibility initiatives taken during year [See below]
[TextBlock]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock] [See below]
CHANGE IN THE
NATURE OF
BUSINESS
Disclosure of change in nature of business [TextBlock] Y o u r
Company has not changed
its nature of Business
during the financial year
under review.
Details of directors or key managerial personnels who were Textual information (19)
appointed or have resigned during year [TextBlock] [See below]
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during [See below]
year [TextBlock]
Details relating to deposits covered under chapter v of companies act Textual information (21)
Details of deposits which are not in compliance with requirements Textual information (22)
of chapter v of act [TextBlock] [See below]
There are no
Details of significant and material orders passed by significant and material
regulators or courts or tribunals impacting going concern orders that were passed
status and company’s operations in future [TextBlock] by the Regulators or
Courts or Tribunals
against your Company
Details regarding adequacy of internal financial controls with Textual information (23)
reference to financial statements [TextBlock] [See below]
Disclosure of contents of corporate social responsibility policy Textual information (24)
Disclosure of appointment and remuneration of director or Textual information (25)
managerial personnel if any, in the financial year [TextBlock] [See below]
Details of remuneration of director or managerial personnel [Abstract]
Disclosure of composition of audit committee and non-acceptance
of any recommendation of audit committee along with reasons [See below]
[TextBlock]
Disclosure of details of establishment of vigil mechanism [TextBlock] [See below]
Disclosure of policy formulated by nomination and remuneration
committee relating to remuneration for directors, key [See below]
managerial personnels and other employees [TextBlock]
Disclosure of report concerns about unethical behaviour,
actual or suspected fraud or violation of company’s code of [See below]
conduct or ethics policy [TextBlock]
Number of meetings of board [pure] 8
Details of signatories of board report [Abstract]
Name of director signing board report [Abstract]
10
Disclosure in board of directors report explanatory [Text Block]
Regd.Off: Hardware Park, Plot No.21, Survey No.1/1, Imarat Kancha, Maheshwaram Mandal,
Raviryala (V) Hyderabad – 501218
(CIN – U72900TG2006PLC077939).
BOARDS’ REPORT
To the Members,
Your Directors take pleasure in presenting the Thirteenth Annual Report on the Business and
Operations of your Company together with the summary of Standalone and Consolidated Financial
Statements for the year ended March 31, 2019 along with the Report of Auditors thereon.
1. INDUSTRY OVERVIEW:
As per the 2019 Global Aerospace and Defence Industry outlook by Deloitte, the Global Aerospace
and Defence Industry is poised to continue its growth trajectory in 2019, primarily driven by the rising
passenger traffic in emerging markets such as China and India and increase in global military
expenditure primarily driven by rising global conflicts, terrorism and increase in defence budgets by
major regional powers such as China, India and Japan.
As per CII outlook on Domestic Aerospace and Defence Industry, India is poised to become the third
largest Aerospace Industry by 2020. India has already established itself as a leading sourcing
destination for Global Aerospace OEMs with high-technology manufacturing environment and skilled
and cost-effective manpower. The growth in the sector is further bolstered by domestic aircraft
demand, liberalization of civil aviation policies, offset requirements and liberal special economic zone
laws. As per the 2019 Global Aerospace and Defence Industry outlook by Deloitte, the commercial
aircraft order backlog is at its peak of more than 14,000, with about 38,000 aircraft expected to be
produced globally over the next 20 years.
In Defence, India has the third-largest armed forces in the world and is one of the largest importers of
Defence equipment globally. With the rise in geo-political tensions, the Indian Government plans to
expand, modernize and enhance operational capability of its armed forces. For the first time defence
budget (excluding defence pension and civil expenditure) will exceed Rs. 3 Lakh Crore, out of which
two-third is revenue expenditure and remaining is capital expenditure. The strategic relationship with
USA got a boost in 2018, with signing of COMCASA (Communications Compatibility and Security
Agreement) which essentially provides legal framework for transfer of communication security
equipment from USA to India. This will facilitate interoperability between armed forces of both
countries. Similarly, India strengthened its relationship with Russia by agreeing to acquire S-400
Triumf, one of the world’s most advanced long range Air Defence systems.
With established capability across the value chain - design, engineering, detailed part manufacturing,
major structural assembly, final assembly and system integration, TASL is well positioned to
capitalize on the opportunities in areas of aero-structures, airborne platform and systems, weapon
systems, sensors and security and, going forward, land mobility.
2. FINANCIAL OVERVIEW:
(Rupees in Crores)
IND-AS Financials Standalone
FY
FY 2018-2019
2017-2018
Total revenue 526.70 422.86
Total expenditure before Depreciation 501.23 352.25
Profit / (Loss) Before Interest, Depreciation, Exceptional items and Tax 25.47 70.61
Less: Finance charges 9.89 5.19

Less: Depreciation & Amortization 18.22 14.70
Add / (Less) : Exceptional items -43.07 51.06
Add / (Less): Share of profit of Joint venture 0.00 0.00
PROFIT / (LOSS) BEFORE TAX 40.43 -0.34
11
Tax expense 6.37 -12.28

Other Comprehensive income 0.02 1.04
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 34.08 12.98
TASL Consolidated revenue has recorded an increase by 44.2% from Rs. 391.02 crores in FY
2017-18 to Rs. 564.02 crores in FY 2018-19.
3. BUSINESS OVERVIEW & OUTLOOK
A.Aero-structures
Aero-structures division has continuously strived to expand its product/customer portfolio and build a
strong order book. Key milestones achieved include 1.5 millionth part delivered for Airbus A320
program to RUAG, 150th Sikorsky S-92 cabin, 100th Lockheed Martin C-130J Empennage and 100th
Chinook CH-47 Crown and Tailcone. The Company has also expanded its infrastructure and
capacities during the year to meet the requirements of three large programs of AH64 Apache
Fuselage, C130J Empennage and Rolls Royce rigid pipes during FY19-20.
Aero-structures unit will continue to work towards enhancing the TATA brand while keeping up with
the group’s highest standard of ethical practices and to achieve its vision “To be the partner of choice
in the Global Aerospace Industry.”
B.Defence and Security (D&S)
TASL D&S Vertical has continued to strengthen strategic partnerships and new tie-ups with Global
Defense OEMs in the FY 2018-19 for missile and sensor systems.
The DPP 2016 has laid emphasis on indigenous design, development and manufacturing through
Indian Private and Public Companies. TASL continues to focus on indigenous capability build up with
its Technology Centre (Tech Centre) which continues to work on ruggedization, integration &
interoperability of subsystems, development of interfaces between disparate technologies, embedded
systems, with aim to address the IDDM (Indigenously Designed, Developed and Manufactured) and
Make-II category projects under the DPP.
The key highlights of the Defence business along with future priorities and risks are given below.
Highlights in FY 2018-19Future prioritiesKey risks

•First Private sector company to deliver 6 Radars to Indian Navy
•TASL has won the contract from National Technical Research Organization for supply, installation
and commission for Shipborne Satellite system on board their dedicated vessel. This win also
catapults TASL into a strategic security organization under NSA.•Integration of Defence Companies
in Tata Group to achieve desired synergy and scale.
•Withdrawal/Delay in award of major ‘Make in India’ programs.
TASL Security business has shown relatively better performance compared to previous Financial
Year. Several measures were taken to improve sales efficiency and cost reduction which resulted in
the Physical Security business ending the year with relatively stronger order book in the second half
of the year. The relatively young Cyber Security business is also showing early green shoots with the
addition of over a dozen new clients during the FY 2018-19.
C.Airborne Platforms and Systems
TASL’s Airborne Platforms and Systems (APS) business unit has been set up for design,
development of Unmanned Aerial Vehicles (UAVs), and carrying out upgrades of aircrafts and their
systems/sub-systems. This requires identifying new technologies for payloads/ sensors and their
integration with the UAVs/Aircrafts for enhanced performance APS Unit is also engaged in Build to
Specs projects for global OEMs.
The key highlights of the APS business along with future priorities and risks are given below.
Highlights in FY 2018-19Future prioritiesKey risks
•Platform development:
Successful trials of indigenously developed small Unmanned Aerial Vehicles to Armed Forces
•Final Assembly:
Among one of the three Indian private companies selected by ISRO for Assembly, Integration and
testing of satellites
•Mission systems/Sub-systems:
Initiated entry into global supply chain with various OEMs•Final Assembly:
Recipient of Expression of Interest from Ministry of Defence for 111 Naval Utility Helicopters under
12
Strategic Partnership program; Exclusive partnership signed with Sikorsky/Lockheed

•High capital investment to engage in IP development
•Evolving regulatory landscape in India
4. ACQUISITION OF TAL MANUFACTURING SOLUTIONS LIMITED

Pursuant to Share Purchase Agreement dated 29th May, 2018, Tata Advanced System Limited
(TASL) has acquired 100% shareholding of TAL Manufacturing Solutions Limited from Tata Motors
Limited effective from 29th March, 2019. This acquisition is part of the Tata Group Strategy to
integrate the Aerospace & Defence Companies under single umbrella to enhance the value to
stakeholders including customers, vendors, banks and employees and shareholders. TAL will
continue its registered office at Pune and having its Aerospace Unit at Nagpur.
Pursuant to Share Purchase Agreement dated 29th May, 2018 and Business Transfer Agreement
dated 26th March, 2019, TAL has sold/transferred the Non-Aerospace Business (IMS, FPS, RAA -
IBU divisions) at Pune to the Tata Motors Ltd at a consideration of Rs.0.10 Crores by transferring all
the assets, liabilities and 244 employees of the said business including few common employees.
5. DEPOSITS FROM PUBLIC
The Company has not accepted any deposits from the public during the year under review. No
amount on account of principal or interest on deposits from public was outstanding as on March 31,
2019.
6. SHARE CAPITAL
As on March 31, 2019, the Authorized Share Capital of the Company is Rs 25,00,00,00,000 (Rupees
Two Thousand Five Hundred Crores Only) and the Paid up share capital is Rs 5,48,17,11,570
(Rupees Five Hundred Forty Eight Crores Seventeen Lakhs Eleven Thousand Five Hundred Seventy
only). The Company is a wholly owned subsidiary of Tata Sons Private Limited.
On April 10, 2019 the Company had allotted 47,03,25,873 equity shares having a face value of
Rs.10/- each at a premium of Rs.1.34/- per share on Rights basis to Tata Sons Private Limited. The
Paid up capital of the Company as on the date of the report is Rs.1018,49,70,300/-(Rupees One
Thousand Eighteen Crore Forty Nine Lakhs Seventy Thousand Three Hundred Only).
7. DIVIDEND
No dividend has been declared during the year under review.
8. TRANSFER TO RESERVES
The Board of Directors has decided to retain the entire amount of Profits in the Profit and Loss
Account.
9. CHANGE IN THE NATURE OF BUSINESS
Your Company has not changed its nature of Business during the financial year under review.
10. DIRECTORS AND KEY MANAGERIAL PERSONNEL
Appointment
In the Annual General Meeting (AGM) held on August 28, 2018 the following Directors were
appointed:
1.Mr. Vijay Singh (DIN 06610802)
2.Mr. Banmali Agrawala (DIN 00120029)
3.Mr. Norman Anil Kumar Browne (DIN 08153434) and
4.Mr. Kesava Menon Chandrasekhar (DIN 06466854)
Further in the Board Meeting held on August 28, 2018, Mr. Vijay Singh was unanimously appointed
as the Chairman of the Company.
Ms. Maya Swaminathan Sinha (DIN: 03056226) was appointed as the Additional Director of the
Company on January 14, 2019. A resolution seeking shareholders’ approval for her appointment
forms a part of the Notice.
Cessation
Mr. Ramadorai Subramanian (DIN 00000002) and Mr. Prakash Manjanath Telang (DIN 00012562),
ceased to be Directors of the Company w.e.f August 28, 2018 on completion of their respective term.
Further Mr. Ashok Sinha (DIN 00070477) and Ms. Radhika Rajan (DIN 00499485) who were
appointed by the Board on March 22, 2018 as Additional Directors of the Company held their
respective offices upto the date of the AGM i.e. August 28, 2018.
The Board places on record its appreciation for their invaluable contribution and guidance.
13
Key Managerial Personnel:

Chief Financial Officer
Mr. A V S Prasad resigned as the Chief Financial Officer of the Company on June 25, 2018. On the
recommendation of the Nomination and Remuneration Committee, the Board in its meeting held on
June 25, 2018 appointed Mr. S G Murali as the Chief Financial Officer of the Company.
Company Secretary
Mr. S R Venkatesan on attaining Superannuation on November 30, 2018 ceased to be the Company
Secretary of the Company. On the recommendation of the Nomination and Remuneration Committee,
the Board in its meeting held on October 12, 2018 appointed Mr. Kaushik Biswas as the Company
Secretary of the Company with effect from December 01, 2018.
11. STATEMENT ON DECLARATION FROM INDEPENDENT DIRECTORS
The Company being a wholly owned Subsidiary of Tata Sons Private Limited, is exempted from the
requirement of appointment of Independent Directors.
12. STATUTORY AUDITORS
Members of the Company at the Annual General Meeting (‘AGM’) held on August 17, 2017 approved
the appointment of M/s Deloitte Haskins & Sells LLP (Firm Registration No.117366W/ W100018),
Chartered Accountants, as the Statutory Auditors of the Company for a period of five years
commencing from the conclusion of the 11th Annual General Meeting held on August 17, 2017 until
the conclusion of 16th Annual General Meeting of the Company to be held in the year 2022.
The requirement of ratification of Statutory Auditors has been done away with vide Companies
(Amendment) Act, 2017, notified on May 7, 2018. Accordingly, the Companies are not required to
ratify the appointment of Statutory Auditors at every AGM. Thus the Notice convening the ensuing
AGM does not carry any resolution on ratification of appointment of Statutory Auditors.
M/s Deloitte Haskins & Sells LLP has confirmed that they are eligible to continue as Statutory
Auditors of the Company to audit the books of accounts of the Company for the Financial Year
ending March 31, 2020 and accordingly M/s Deloitte Haskins & Sells LLP will continue to be the
Statutory Auditors of the Company for Financial Year ending March 31, 2020.
M/s Deloitte Haskins & Sells LLP has audited the book of accounts of the Company for the Financial
Year ended March 31, 2019 and have issued the Auditors’ Report thereon.
There are no qualifications or reservations or adverse remarks or disclaimers in the said Report.
13. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITOR UNDER SECTION 143(12)
There were no frauds reported by the Auditor.
14. SECRETARIAL AUDIT
Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed PI & Associates,
Practicing Company Secretaries (FRN P2014UP035400), to carry out the Secretarial Audit of the
Company. The Report of the Secretarial Audit for FY 2018-19 is attached herewith as Annexure-I.
There are no qualifications, observations or adverse remarks or disclaimers in the said report.
15. COMPLIANCE TO SECRETARIAL STANDARDS
The Directors have devised proper systems to ensure compliance with the provisions of all applicable
Secretarial Standards and that such systems are adequate and operating effectively.
16. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
The details are enclosed as Annexure- II.
17. EVENTS SUBSEQUENT TO THE DATE OF FINANCIAL STATEMENTS TILL THE DATE OF
BOARDS REPORT
The Board vide its circular resolution passed on April 10, 2019 had allotted 47,03,25,873 equity
shares having a face value of Rs.10/- each at a premium of Rs.1.34/- per share on Rights basis to
Tata Sons Private Limited. The Paid up capital of the Company as on the date of the report is
Rs.1018,49,70,300/-(Rupees One Thousand Eighteen Crore Forty Nine Lakhs Seventy Thousand
Three Hundred Only).
TASEC Limited’s 100% equity share capital is held by the Company. The Board in its meeting held
on January 29, 2019 proposed to amalgamate TASEC Limited with the Company considering the
following benefits that are expected to arise from the Amalgamation and the same was approved by
the Shareholders in its Meeting held on March 27, 2019.
14
•Combined business resulting in better resource utilization.

•Single company approach will enable the companies to offer all services through one company
resulting in greater synergy and marketing and improved customer confidence.
•Facilitate to participate in large government/private tenders, bids and enter into competition with
other entities more efficiently and can get greater market share.
•Would get more managerial efficiency which will result in more value creation.
•Reduce the cost and eliminate duplicate facilities and will avoid administrative overheads and the
amalgamation would help in having reduction in overheads expenses.
Further, pursuant to the provisions of Section 233 of the Companies Act, 2013, the Scheme of
Amalgamation between TASEC Limited and the Company was approved by the Regional Director
(South East Region) on 6th May, 2019.
18. DETAILS OF RESEARCH AND DEVELOPMENT ACTIVITY

Airborne Platforms and Systems (APS)
During the FY18-19, TASL APS R&D unit at Bangalore has got the DSIR recognition for In-house
design & development of UAVs and its systems.
During the preceding year, the TASL APS unit had carried out activities to develop various prototype
systems to cater to the requirements of Ministry of Defense which include ruggedization of fixed wing
hand launch UAV, design & development of quadcopters, concept design of Vertical Take Off and
Landing (VTOL) UAV, Development of SWARM algorithms for IAF etc. APS unit is also carrying out
development of several systems such as Autopilot/Mission Computer system, Ground Control
Station, and mission systems integration with Mission Computers. The key technologies associated
with these systems are being indigenized for maximizing the “Make in India” content.
Defence and Security
The Company has applied for the renewal of DSIR recognition of In-house R & D for the unit of Tata
Advanced Systems at Noida. The unit was engaged in Design and Development of subsystems for
SSR radar project relating to Ruggedized Multi-Function Console (MFC), Interface Box, Ruggedized
Utility Rack, COTS based Radar Simulator. Additional Development work towards indigenization of
the systems relating to Design and development of VCM (Versatile Communication Manager), PTP
for CMS for MRSAM
19. EXTRACT OF ANNUAL RETURN
Pursuant to Section 92 and 134 of the Act and rules framed thereunder, the extract of Annual Return
in Form MGT-9 is given in Annexure-III which forms part of this report.
20. INSURANCE
The Company has taken adequate insurance to protect property damage and loss of life.
Furthermore, TASL has adhered to all the contractual obligations in terms of liability insurance as
specified in the contract.
21. BOARD OF DIRECTORS AND MEETINGS
The members of the Company’s Board of Directors are eminent persons of proven competence and
integrity. Besides experience, strong financial acumen, strategic astuteness and leadership qualities,
they have a significant degree of commitment towards the Company and devote adequate time to the
meetings and preparation. The Board meets at regular intervals to discuss and decide on Company /
business policy and strategy apart from other Board business. The Board exhibits strong operational
oversight with regular presentations in every quarterly meetings. The Board / Committee meetings
are pre-scheduled and a tentative annual calendar of the Board and Committee meetings is
circulated to the Directors well in advance to help them plan their schedule and ensure meaningful
participation in the meetings.
Only in case of special and urgent business, if the need arises, the Board’s/Committee’s approval is
taken by passing resolutions through circulation or by calling Board/Board Committee meetings at
short notice, as permitted by law.
The agenda for the Board and Committee meetings includes detailed notes on the items to be
discussed to enable the Directors to take an informed decision. The Board of Directors had held 8
meetings during FY 2018-19. The gap between the Board Meetings was not more than One Hundred
and Twenty Days.
The Meetings of the Board of directors during the year under review on the following dates:
1.April 18, 2018
2.May 11, 2018
15
3.June 25, 2018

4.August 28, 2018
5.October 12, 2018
6.December 19, 2018
7.January 29, 2019
8.March 15, 2019
COMMITTEE MEETINGS:
AUDIT COMMITTEE
The Ministry of Corporate Affairs vide its Notification dated July 05, 2017 & July 13, 2017 amended
Rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014 (“Appointment
Rules”) & Rule 6 of the Companies (Meeting of the Board and its Power) Rules, 2014 (“Meeting
Rules”) of the Companies Act 2013 respectively. Accordingly the Company is exempted from
constituting Audit Committee. However, as a matter of good corporate governance the Board of
Directors have decided to retain the Audit Committee.
The primary objective of the Audit Committee is to monitor and provide effective supervision of the
Management’s financial reporting process, to ensure accurate and timely disclosures, with the
highest levels of transparency, integrity and quality of financial reporting.
All the members of the Committee have deep knowledge in accounts and finance.
The Committee comprises of:
1. Mr. Banmali Agrawala (Chairman)
2. Mr. Vijay Singh
3. Mr. K M Chandrasekhar and
4. Ms. Maya Sinha.
The Committee met 3 times during the year on the following dates:
1. May 11, 2018,
2. December 19, 2018
3. March 15, 2019
NOMINATION AND REMUNERATION COMMITTEE (“NRC”):
The Ministry of Corporate Affairs vide its Notification dated July 05, 2017 & July 13, 2017
Amended Rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014
(“Appointment Rules”) & Rule 6 of the Companies (Meeting of the Board and its Power) Rules, 2014
(“Meeting Rules”) of the Companies Act 2013, respectively. Accordingly, the Company is exempted
from constituting NRC. However, as a matter of good corporate governance the Board of Directors
have decided to retain the NRC.
The objectives of the NRC is to identify persons who are qualified to become directors and who may
be appointed in senior management in accordance with the criteria laid down, recommend to the
Board their appointment and removal and shall carry out evaluation of every director’s performance.
The role and function of NRC includes criteria for determining qualifications, positive attributes and
independence of a Director and recommend to the Board a policy, relating to the remuneration for the
Directors, Key Managerial Personnel and other employees.

2. Mr. Vijay Singh
3. Mr. N A K Browne
The Meeting of the Nomination and Remuneration Committee (“NRC”) was held twice (2) during the
year on the following dates.
1. May 11, 2018

2. February 21, 2019
16
CORPORATE SOCIAL RESPONSIBILITY (‘’CSR’’) COMMITTEE
As per Section135 of the Companies Act 2013, every Company having Net Worth of Rupees Five
Hundred Crores or more, or turnover of Rupees One Thousand Crores or more or a Net Profit of
Rupees Five Crores or more during the immediately preceding financial year shall constitute a
Corporate Social Responsibility Committee of the Board consisting of three or more Directors, out of
which at least one Director shall be an Independent Director. Provided that where a Company is not
required to appoint an Independent Director under sub-section (4) of section 149, it shall have in its
Corporate Social Responsibility Committee of two or more directors. Accordingly, the Company has
constituted CSR Committee and needs to spend in every financial year, at least two per cent of the
average net profits of the company made during the three immediately preceding financial years, in
pursuance of its Corporate Social Responsibility Policy.
As a policy the Committee would evaluate the recommendations from the team on various initiatives
which would be presented to the CSR Committee in line with the CSR Activities as defined by
Schedule VII of the Companies Act 2013 in compliance with Companies (Corporate Social
Responsibility Policy) Rules, 2014.
1. Mr. Vijay Singh (Chairman)

2. Mr. Sukaran Singh
3. Ms. Maya Sinha
4. Mr. K M Chandrasekhar
The Meeting of the Corporate Social Responsibility Committee (“CSR”) was held once during the
year on March 15, 2019.
The report on CSR disclosures as required under Section 135 of the Act read with Rules framed
thereunder is provided in Annexure IV to this Report.
22. DISCLOSURES AS PER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
The Company has adopted zero tolerance for sexual harassment at workplace and has formulated a
policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the
provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 and the rules framed thereunder for prevention and redressal of complaints of
sexual harassment at workplace. Awareness programs were conducted at various locations of the
Company. The Company has complied with provisions relating to the constitution of Internal
Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013. During the year under review, the Company received one complaint of sexual
harassment and the same was resolved. There was no complaint pending as on March 31, 2019.
S No.ParticularsRemarks
1.Number of sexual harassment complaints received in FY 2018-19.1
2.Number of complaints disposed off during FY 2018-19.1
3.Number of cases pending for more than 90 days.0
4.Number of awareness programs or workshops against sexual harassment conducted during the
year.12
5.Nature of action taken by the employer or district officer with respect to the cases.Formal Warning
letter sent to Manpower Service Provider apprising him of the sexual harassment act, committed by
their employee and debarring the employee from entering the plant premises forever.
The Company has complied with the provisions relating to the constitution of Internal Committee
under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013.
23. VIGIL MECHANISM/WHISTLE BLOWER POLICY
Company has an established Vigil Mechanism, which provides a formal platform for all employees to
approach the Management of the Company (Audit Committee in case where the concern involves the
Senior Management) and make protective disclosures to the Management about unethical behavior,
actual or suspected fraud or violation of the Company’s Code of Conduct or ethics policy. The
disclosures reported shall be addressed in the manner and within the time frames prescribed in the
Policy.
17
24. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIALS

STATEMENTS
The Company has aligned its current system of Internal Control over Financial Reporting framework
with the requirements of the Companies Act 2013. The Internal Control framework is intended to
provide a holistic view of the operations with accountability mapped to all relevant functions. The
internal controls are commensurate with the size and nature of business.
The risk control matrix is framed with the objective to provide reasonable assurance pertaining to
recording and presentation of reliable financial and operational information, compliance with the
applicable regulations, safeguard of company assets, execution of transactions as per Delegation of
Authority and related company policies.
The management is assessing the effectiveness of the company’s internal control procedures
through self-review, internal and external audits at regular intervals to ensure sustained effectiveness
of the internal financial controls (IFC). The Board of Directors are of the opinion that the Company
has adequate internal financial control that is operating effectively as of 31st March 2019.
The Statutory Auditors have also assessed the IFC and concluded that the internal financial controls
were adequate and operating effectively.
25. DIRECTORS RESPONSIBILITY STATEMENT
Based on the framework of internal financial controls and compliance systems established and
maintained by the Company, the work performed by the internal, statutory and secretarial auditors
and external consultants, including the audit of internal financial controls over financial reporting by
the statutory auditors and the reviews performed by management and the relevant board committees,
including the audit committee, the Board is of the opinion that the Company’s internal financial
controls were adequate and effective during FY 2019.
Pursuant to Section 134(5) of the Act, the Board of Directors, to the best of its knowledge and ability,
confirm that:
a)in the preparation of the accounts for the financial year ended March 31, 2019, the applicable
accounting standards have been followed and that there are no material departures;
b)the Directors had selected such accounting policies and have applied them consistently and made
judgments and estimated that are reasonable and prudent so as to give a true and fair view of the
state of affairs of the Company at the end of the financial year and of the Profit of the Company for
the period;
c)the Directors had taken proper and sufficient care to the best of their knowledge and ability for the
maintenance of adequate accounting records in accordance with the provisions of the Companies
Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities;
d)the Directors had prepared the annual accounts on a going concern basis; and
e)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.
26. RELATED PARTY TRANSACTIONS:
The details in FORM AOC 2 of the Company Accounts Rules 2014 pursuant to clause (h) of
sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014 is
attached to this Report as Annexure-V.
27. RISK MANAGEMENT POLICY
The Risk Management Policy of the company is approved by the Board in FY 16-17 with the
objective to develop a framework to identify substantial risk elements and mitigation plan for each
identified Risk That Matters (RTMs). The Board of Directors of the Company have formed a risk
management committee to identify, assess, mitigate and monitor the risks using a Risk Management
Plan for the Company. The Committee is also responsible for reviewing and flowing down risks to
respective functions of the Company to ensure adherence to the risk management plan thereby
deploying actions towards risk closure and effectiveness.
The Audit committee has additional oversight in the area of financial risks and controls. The critical
and major risks are identified by businesses and functions and systematically addressed through
mitigation actions on an annual basis. Subsequently, TASL at group level has identified RTM’s that
have been shared with its subsidiaries.
28. ANNUAL EVALUATION OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS
As per the provisions of the Companies Act, 2013 it becomes mandatory for evaluation of
Performance of Board and its Committees. The evaluation process of Board and Committees were
18
conducted on the basis of common template of questionnaire provided by Tata group for all the Tata
Companies.
29. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO UNDER SECTION 134 (3) (m) OF THE COMPANIES ACT, 2013
The disclosures required under Section 134 (3)(m) of the Companies Act, 2013 read with the
Companies (Accounts) Rules, 2014 for the year ended 31st March, 2019 are as follows:
A.CONSERVATION OF ENERGY, TECHNOLOGY ABSORBTION:
FORM A
FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF
ENERGY 2018-2019
PARTICULARS 2018-2019 2017-2018

A. POWER AND FUEL CONSUMPTION
1.ELECTRICITY
a)Purhased
(Unit in kwh) 3211990 329958
Total amount (Rs lakhs) 299.54 307.52
Average Rate / Unit (Rs /kwh) 9.33 9.32
b) Own generation
Through Diesel generator
(Unit in kwh) 155479 202024
Unit per litre of Diesel oil (KWH) 2.8 3.05
Average cost / Unit (Rs / KWH) 0 0
2. FURNACE OIL
Quantity (Kilo litres)
Total Amount (Rs in lakhs)
Average rate
3. Others - LPG etc

Quantity (Tonnes)
Total amount (In lakhs)
Average rate
Adequate
measures
have been
the steps taken or impact on conservation of energy
taken to
conserve
energy.
Conducting
feasibility
analysis for
the steps taken by the company for utilizing alternate sources of energy.
deploying
Solar Roof top
Power system
the capital investment on energy conservation equipments NIL
B . TECHNOLOGY ABSORPTION : (Amount in Rupees Crores)

Research and Development
Defence &
1. Specific Areas in which R&D was carried out by the Company
Aerostructure
a)Raw materials 4.75
19
b) Cost and productivity 21.33

c) Market and new Products 0
d) Energy and Environment 0
2. Benefits Derived Not Applicable
Project under
3. Future plan of action
implementation
4. Expenditure on R&D
a) Capital 4.25
b)Recurring expenditure capitalised 21.83
c)TOTAL 26.08
d)Total R&D Expenditure as a % of Total turnover 5%
Technology, absorption, adoption and innovation Not Applicable
Particulars of Technology imported during last five years Not Applicable
(i)the effort made towards technology absorptionThe Company has not imported any technology
during the previous year. Product development efforts have been undertaken indigenously.
(ii)the benefits derived like product improvement, cost reduction, product development or import
substitutionDuring the preceding year and year ended, the Company had carried out certain
development activities to:
(a) design, development and manufacture of Unmanned Aerial Systems under Airborne Platforms
Program
(b) develop various prototype systems to cater to the requirements of Ministry of Defence.
(c) design and development of tools for GE Project
The Company has carried out certain development activities under above programs to cater the
requirements of Ministry of Defence.
iii) in case of imported technology (important during the last three years reckoned from the beginning
of the financial year)Not Applicable
(a) the details of technology imported
(b) the year of import;
(c) whether the technology been fully absorbed
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof
(iv)the expenditure incurred on Research and DevelopmentRs.26.6 crs incurred towards product
development
C. FOREIGN EXCHANGE EARNING AND OUTGO:
The disclosures required under Section 134 (3)(m) of the Companies Act, 2013 read with the
Companies (Accounts) Rules, 2014 for the year ended March 31, 2018 are as follows:
I.TASL – Standalone: (amount in INR Crores)

ParticularsFY 2018- 19FY 2017- 18
Total Foreign exchange earnings423.07310.58
Total Foreign exchange outgo361.08 167.95
30. MAINTENANCE OF COST RECORDS AS SPECIFIED BY THE CENTRAL GOVERNMENT

UNDER SUB-SECTION (1) OF SECTION 148 OF THE COMPANIES ACT, 2013
The Company maintains the Cost Records pursuant to the Companies (Cost Records and Audit)
Rules, 2014 as amended prescribed by the Central Government under sub-section (1) of Section 148
of the Companies Act, 2013 and the Statutory Auditors of the Company have broadly reviewed the
Cost Records of the Company.
31. SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND
TRIBUNALS
There are no significant and material orders that were passed by the Regulators or Courts or
20
Tribunals against your Company.

32. APPRECIATION
The Directors wish to convey their deep appreciation to all the Employees, Customers, Vendors,
Investors, and Consultants/Advisors of the Company for their sincere and dedicated services as well
as their collective contribution to the Company’s performance.
The Directors also thank the Government of India, Governments of various states in India and
concerned Government departments for their cooperation.
We look forward to their continued support in the future.
For and on behalf of the Board of Directors of

TATA Advanced Systems Limited
VIJAY SINGH
(DIN: 06610802)
CHAIRMAN
Date: 09/05/2019
Place: Mumbai
21
Description of state of companies affair

BUSINESS OVERVIEW & OUTLOOK
A. Aero-structures
Aero-structures division has continuously strived to expand its product/customer portfolio and build a strong order book. Key milestones
achieved include 1.5 millionth part delivered for Airbus A320 program to RUAG, 150th Sikorsky S-92 cabin, 100th Lockheed Martin C-130J
Empennage and 100th Chinook CH-47 Crown and Tailcone. The Company has also expanded its infrastructure and capacities during the year to
meet the requirements of three large programs of AH64 Apache Fuselage, C130J Empennage and Rolls Royce rigid pipes during FY19-20.
Aero-structures unit will continue to work towards enhancing the TATA brand while keeping up with the group’s highest standard of ethical
practices and to achieve its vision “To be the partner of choice in the Global Aerospace Industry.”
B. Defence and Security (D&S)
TASL D&S Vertical has continued to strengthen strategic partnerships and new tie-ups with Global Defense OEMs in the FY 2018-19 for missile
and sensor systems.
The DPP 2016 has laid emphasis on indigenous design, development and manufacturing through Indian Private and Public Companies. TASL
continues to focus on indigenous capability build up with its Technology Centre (Tech Centre) which continues to work on ruggedization,
integration & interoperability of subsystems, development of interfaces between disparate technologies, embedded systems, with aim to address
the IDDM (Indigenously Designed, Developed and Manufactured) and Make-II category projects under the DPP.
The key highlights of the Defence business along with future priorities and risks are given below.
Highlights in FY 2018-19 Future priorities Key risks
· First Private sector company to deliver 6 Radars to Indian Navy · Integration of Defence
· Withdrawal/Delay
· TASL has won the contract from National Technical Research Organization for Companies in Tata Group
in award of major
supply, installation and commission for Shipborne Satellite system on board to achieve desired synergy
‘Make in India’
their dedicated vessel. This win also catapults TASL into a strategic security and scale.
programs.
organization under NSA.
TASL Security business has shown relatively better performance compared to previous Financial Year. Several measures were taken to improve
sales efficiency and cost reduction which resulted in the Physical Security business ending the year with relatively stronger order book in the
second half of the year. The relatively young Cyber Security business is also showing early green shoots with the addition of over a dozen new
clients during the FY 2018-19.
C. Airborne Platforms and Systems
TASL’s Airborne Platforms and Systems (APS) business unit has been set up for design, development of Unmanned Aerial Vehicles (UAVs), and
carrying out upgrades of aircrafts and their systems/sub-systems. This requires identifying new technologies for payloads/ sensors and their
integration with the UAVs/Aircrafts for enhanced performance APS Unit is also engaged in Build to Specs projects for global OEMs.
The key highlights of the APS business along with future priorities and risks are given below.
Highlights in FY 2018-19 Future priorities Key risks
· Platform development:
Successful trials of indigenously
developed small Unmanned Aerial
Vehicles to Armed Forces · High capital
· Final Assembly: · Final Assembly: investment to
Among one of the three Indian private Recipient of Expression of Interest from Ministry of Defence for engage in IP
companies selected by ISRO for 111 Naval Utility Helicopters under Strategic Partnership development
Assembly, Integration and testing of program; Exclusive partnership signed with Sikorsky/Lockheed · Evolving
satellites regulatory
· Mission systems/Sub-systems: landscape in India
22
Initiated entry into global supply chain

with various OEMs
Disclosure relating to amounts if any which is proposed to carry to any reserves

TRANSFER TO RESERVES
The Board of Directors has decided to retain the entire amount of Profits in the Profit and Loss Account.
23
Details regarding energy conservation

CONSERVATION OF ENERGY, TECHNOLOGY ABSORBTION
FORM A
FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO
CONSERVATION OF ENERGY 2018-2019
REMARKS
PARTICULARS 2018-2019 2017-2018 DIFFERENCE FOR
VARIATIONS
1.ELECTRICITY
a)Purhased
Energy
(Unit in kwh) 3211990 329958 -87598 consumption
reduced
by
Total amount (Rs lakhs) 299.54 307.52 -7.98 implementation
of energy
conservation
Average Rate / Unit (Rs /kwh) 9.33 9.32 initiative and
energy
optimization
initiatives
b) Own generation
Optimized nos
of Diesel
Generations
(Unit in kwh) 155479 202024 -46545
operations and
ensuring
Unit per litre of Diesel oil (KWH) 2.8 3.05 0 effective
loading of
Diesel
Average cost / Unit (Rs / KWH) 0 0 0
Generators
2. FURNACE OIL
Quantity (Kilo litres) NOT USED
Average rate
3. Others - LPG etc

Quantity (Tonnes) NOT USED
Average rate
the steps taken or impact on Adequate measures have been

(i)
conservation of energy taken to conserve energy.
the steps taken by the company Conducting feasibility analysis for

(ii) for utilizing alternate sources of deploying Solar Roof top Power
energy. system
24
(iii) the capital investment on energy NIL

conservation equipments
25
Details regarding technology absorption
29. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN

EXCHANGE EARNING AND OUTGO UNDER SECTION 134 (3) (m) OF THE
COMPANIES ACT, 2013
The disclosures required under Section 134 (3)(m) of the Companies Act, 2013 read
with the Companies (Accounts) Rules, 2014 for the year ended 31st March, 2019 are
as follows:
A.CONSERVATION OF ENERGY, TECHNOLOGY ABSORBTION:
FORM A
FORM FOR DISCLOSURE OF PARTICULARS WITH RESPECT TO
CONSERVATION OF ENERGY 2018-2019
PARTICULARS 2018-2019 2017-2018

1.ELECTRICITY
a)Purhased
(Unit in kwh) 3211990 329958
Total amount (Rs lakhs) 299.54 307.52
Average Rate / Unit (Rs /kwh) 9.33 9.32
b) Own generation
(Unit in kwh) 155479 202024
Unit per litre of Diesel oil (KWH) 2.8 3.05
Average cost / Unit (Rs / KWH) 0 0
2. FURNACE OIL
Quantity (Kilo litres)
Average rate
3. Others - LPG etc

Quantity (Tonnes)
Average rate
Adequate measures have

the steps taken or impact on conservation of energy been taken to conserve
energy.
Conducting feasibility analysis
the steps taken by the company for utilizing alternate sources of energy. for deploying Solar Roof top
Power system
the capital investment on energy conservation equipments NIL
B . TECHNOLOGY ABSORPTION : (Amount in Rupees Crores)

Research and Development
1. Specific Areas in which R&D was carried out by the Company Defence & Aerostructure
26
a)Raw materials 4.75

b) Cost and productivity 21.33
c) Market and new Products 0
d) Energy and Environment 0
2. Benefits Derived Not Applicable
3. Future plan of action Project under implementation
4. Expenditure on R&D
a) Capital 4.25
b)Recurring expenditure capitalised 21.83
c)TOTAL 26.08
d)Total R&D Expenditure as a % of Total turnover 5%
Technology, absorption, adoption and innovation Not Applicable
Particulars of Technology imported during last five years Not Applicable
(i)the effort made towards technology absorptionThe Company has not imported any
technology during the previous year. Product development efforts have been
undertaken indigenously.
(ii)the benefits derived like product improvement, cost reduction, product development
or import substitutionDuring the preceding year and year ended, the Company had
carried out certain development activities to:
(a) design, development and manufacture of Unmanned Aerial Systems under
Airborne Platforms Program
(b) develop various prototype systems to cater to the requirements of Ministry of
Defence.
The Company has carried out certain development activities under above programs to
cater the requirements of Ministry of Defence.
iii) in case of imported technology (important during the last three years reckoned
from the beginning of the financial year)Not Applicable
(a) the details of technology imported
(b) the year of import;
(c) whether the technology been fully absorbed
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons
thereof
(iv)the expenditure incurred on Research and DevelopmentRs.26.6 crs incurred
towards product development
27
Details regarding foreign exchange earnings and outgo

C. FOREIGN EXCHANGE EARNING AND OUTGO:
The disclosures required under Section 134 (3)(m) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 for the year
ended March 31, 2018 are as follows:
I. TASL – Standalone: (amount in INR Crores)
Particulars FY 2018- 19 FY 2017- 18
Total Foreign exchange earnings 423.07 310.58
Total Foreign exchange outgo 361.08 167.95
Disclosures in director’s responsibility statement

DIRECTORS RESPONSIBILITY STATEMENT
Based on the framework of internal financial controls and compliance systems established and maintained by the Company, the work performed
by the internal, statutory and secretarial auditors and external consultants, including the audit of internal financial controls over financial reporting
by the statutory auditors and the reviews performed by management and the relevant board committees, including the audit committee, the Board
is of the opinion that the Company’s internal financial controls were adequate and effective during FY 2019.
Pursuant to Section 134(5) of the Act, the Board of Directors, to the best of its knowledge and ability, confirm that:
a) in the preparation of the accounts for the financial year ended March 31, 2019, the applicable accounting standards have been followed and
that there are no material departures;
b) the Directors had selected such accounting policies and have applied them consistently and made judgments and estimated that are
reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the Profit of
the Company for the period;
c) the Directors had taken proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting
records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
d) the Directors had prepared the annual accounts on a going concern basis; and
e) 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.
28
Details of material changes and commitment occurred during period affecting financial position of company
EVENTS SUBSEQUENT TO THE DATE OF FINANCIAL STATEMENTS TILL THE DATE OF BOARDS REPORT
The Board vide its circular resolution passed on April 10, 2019 had allotted 47,03,25,873 equity shares having a face value of Rs.10/- each at a
premium of Rs.1.34/- per share on Rights basis to Tata Sons Private Limited. The Paid up capital of the Company as on the date of the report is
Rs.1018,49,70,300/-(Rupees One Thousand Eighteen Crore Forty Nine Lakhs Seventy Thousand Three Hundred Only).
TASEC Limited’s 100% equity share capital is held by the Company. The Board in its meeting held on January 29, 2019 proposed to amalgamate
TASEC Limited with the Company considering the following benefits that are expected to arise from the Amalgamation and the same was
approved by the Shareholders in its Meeting held on March 27, 2019.
· Combined business resulting in better resource utilization.

· Single company approach will enable the companies to offer all services through one company resulting in greater synergy and marketing
and improved customer confidence.
· Facilitate to participate in large government/private tenders, bids and enter into competition with other entities more efficiently and can get
greater market share.
· Would get more managerial efficiency which will result in more value creation.
· Reduce the cost and eliminate duplicate facilities and will avoid administrative overheads and the amalgamation would help in having
reduction in overheads expenses.
Further, pursuant to the provisions of Section 233 of the Companies Act, 2013, the Scheme of Amalgamation between TASEC Limited and the
Company was approved by the Regional Director (South East Region) on 6th May, 2019.
29
Particulars of loans guarantee investment under section 186 [Text Block]

Annexure-II
PARTICULARS OF
LOANS, GUARANTEES
OR INVESTMENTS
UNDER SECTION 186
LOANS
Prevailing
yield of
Purpose for which 1/3/5/10
Date of
Date of the loan is Interest years
S. Special Name of Amount
Date of Loan Board proposed to be (per Security Government
No. resolution, Borrower (INR)
Resolution utilized by the annum) Security at
if any
recipient the time of
extending
the Loan
Nova
Funding
12-03-2019 Not Integrated Not
1 14-03-2019 operational 50000000 8.55% None
20-03-2019 Applicable Systems Applicable
expenditure
Limited
23-08-2018
Funding 8.15%
11-09-2018 Not TASEC Not
2 19-12-2018 operational 90000000 & None
25-01-2019 Applicable Limited Applicable
expenditure 8.55%
31-01-2019
Aurora
FY 18-19 (multiple dates Integrated Funding
Not Not
3 from 10-04-18 to 22-03-2018 Systems operational 113726850 8.15% None
Applicable Applicable
02-02-19) Private expenditure
Limited
INVESTMENTS
Purpose for which
Date of
Date of Name of the investment is Expected
S. Special
Date of Investment Board the proposed to be Amount rate of
No. resolution,
Resolution investee utilized by the return
if any
recipient
Nova
Funding
Not Integrated Not
1 14-03-2019 14-03-2019 operational 50000000
Applicable Systems Applicable
expenditure
Limited
GUARANTEE/SECURITY
Purpose for which
Date of the
Date of Name of
S. Date of providing Special guarantee/security
Board the Amount Commission
No. guarantee/security resolution, is proposed to be
Resolution receipent
if any utilized by the
recipient
NIL
For and on behalf of the

Board of Directors of
TATA Advanced Systems
Limited
30
VIJAY SINGH
CHAIRMAN
(DIN- 06610802)
Date: 09/05/2019
Place: Mumbai
31
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
Annexure - V
FORM NO. AOC-2
(Pursuant to clause (h)

of sub-clause (3) of
section 134 of the Act
and Rule 8 (2) of the
Companies (Accounts)
Rules, 2014)
Form for disclosure of

particulars of
contracts/arrangements
entered into by the
Company with related
parties referred to in
sub-section (1) of
section 188 of the
Companies Act, 2013
including certain arms
length transactions
under third proviso
thereto.
(Amount in INR Lakhs)

Details of contracts or
arrangements or
transactions not at
arm's length basis
Salient terms of
Date(s)
the contracts or Amount
Name(s) of the related of
Nature of Duration of the arrangements paid as
party and nature of approval
contracts/arrangements/transactions. contracts/arrangements/transactions. or transactions advances,
relationship. by the
including the if any.
Board.
value, if any.
0 0 0 NIL - -
Details of contracts or
arrangements or
transactions at arm's
length basis
Salient terms of
Date(s)
the contracts or Amount
Name(s) of the related of
Nature of Duration of the arrangements paid as
party and nature of approval
contracts/arrangements/transactions contracts/arrangements/transactions. or transactions advances,
relationship. by the
including the if any.
Board.
value, if any.
Purchase of Advance
Tata Sikorksy detail parts for paid to
Aerospace Limited Purchase of raw material Long term agreements (on-going) aerostructure vendor -
(Joint Venture) assembly Rs.83.88
programs Lakhs
Advance
Sale of received
sub-assemblies from
32
Tata Boeing Aerospace Sale of Goods and Tools Long term agreements (on-going) for customer
Limited (Joint Venture) aerostructure -
programs Rs.424.10
Lakhs
For and on behalf of

the Board of Directors
of
TATA Advanced
Systems Limited
VIJAY SINGH
CHAIRMAN
Date: 09/05/2019
Place: Mumbai
Details of statement indicating manner in which formal annual evaluation made by board of its performance and of
its committees and individual directors [Text Block]
ANNUAL EVALUATION OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS
As per the provisions of the Companies Act, 2013 it becomes mandatory for evaluation of Performance of Board and its Committees. The
evaluation process of Board and Committees were conducted on the basis of common template of questionnaire provided by Tata group for all the
Tata Companies.
33
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
ANNEXURE-III
Form No. MGT-9
EXTRACT OF ANNUAL RETURN
as on the financial year ended on 31st March,
2019
[Pursuant to section 92(3) of the Companies
Act, 2013 and rule 12(1) of the
Companies (Management and Administration)
Rules, 2014]
I. REGISTRATION AND OTHER DETAILS:

i. CIN U72900TG2006PLC077939
ii. Registration date 19-09-2006
Tata Advanced Systems
iii. Name of the Company
Ltd.
Company limited by shares/
iv. Category/Sub Category of the Company Indian Non-Government
Company
Address of the Registered Office and Contact
v.
details
Hardware Park, Plot No.21,
No.1/1, Imarat Kancha,

Hardware Park, Plot No.21, Survey
Maheshwaram Mandal, Raviryala
(V) Hyderabad - 501218
Telephone - 040-6644-7438
Website -
www.tataadvancedsystems.com
vi. Whether Listed Company Unlisted

Name, Address and contact details of
vii. Not Applicable
Registrar and Transfer Agent, if any
PRINCIPAL BUSINESS ACTIVITIES OF THE

II.
COMPANY:
All the business activities contributing 10% or
more of the total turnover of the Company
shall be stated:
NIC Code
SI. Name and Description of main products / of the % to total turnover
No. services Product/ of the company
service
Aircraft structural
1 Aircraft structural assemblies 30305 97%
assemblies
PARTICULARS OF HOLDING, SUBSIDIARY

III.
AND ASSOCIATE COMPANIES:
34
Holding/
S. No Name and address of the Company CIN/GLN subsidiary % of Applicable
/Associate
sharesheld section
Holding
1 Tata Sons Private Ltd. U99999MH1917PLC000478 100% 2 (46) of the
Company
Bombay House, 24 Homi Mody Street,
Companies
Mumbai - 400001, Maharashtra, India
Act, 2013
Subsidiary
2 Tata Sikorksy Aerospace Limited U74990TG2008PLC077969 74% 2 (87) (ii) of the
Company
Hardware Park, Plot No. 21, Survey No. 1/1,
Imarat Kancha, Maheshwaram (M), Raviryala Companies
(V), Hyderabad - 501218
Act, 2013
Subsidiary
3 Tata Lockheed Martin Aerostructures Limited U29268TG2010PLC077940 74% 2 (87) (ii) of the
Company
Act, 2013
Subsidiary
4 Tata Boeing Aerospace Limited U74120TG2015PLC101585 51% 2 (87) (ii) of the
Company
Act, 2013
Subsidiary
5 HELA Systems Private Limite U31909TG2004PTC042753 74% 2 (87) (ii) of the
Company
Plot No. 22-23, Pragati Industrial Area Near
Companies
ECIL, Kushaiguda Hyderabad TG 500062 IN
Act, 2013
Subsidiary
6 Nova Integrated Systems Limited U74990TG2008PLC099481 100% 2 (87) (ii) of the
Company
Act, 2013
Subsidiary
7 TASEC Limited U72900MH2008PLC188713 100% 2 (87) (ii) of the
Company
Bombay House, 24, Homi Mody Street, Fort,
Companies
Mumbai MH 400001 INDIA
Act, 2013
Subsidiary
8 Aurora Integrated Systems Pvt. Limited U74120KA2006PTC082507 100% 2 (87) (ii) of the
Company
8th Floor, NCC Urban Windsor Building, Sy.
No 76/2 17/1, Bellary Road, Yashoda Nagar, Companies
Yelahanka Bengalaru Karnataka 560064
Act, 2013
Subsidiary
9 TASL Aerostructures Private Limited U29119MH2008PTC187825 100% 2 (87) (ii) of the
Company
Bombay House, 24, Homi Mody Street, Fort,
Companies
Mumbai MH 400001 IN
Act, 2013
Subsidiary
10 TAL Manufacturing Solutions Limited U29100PN2000PLC130290 100% 2 (87) (ii) of the
Company
PDO Building, Tata Motors Campus,
Companies
Chinchwad, Pune-411033, Maharahstra
35
Act, 2013
SHARE HOLDING PATTERN (Equity Share

IV. Capital Breakup as percentage of Total
Equity)
i) Category-wise Share Holding
No. of Shares held
Category of Shareholders No. of Shares held at
at
the beginning of the year the end of the year
Physical % of Total Physical % of Total
Shares Shares
A.Promoters
(1) Indian
a) Individual/HUF
b) Central Govt.
c) State Govt.
d)Bodies Corporate 548171157 100% 548171157 100%
e)Bank/FI's
f) Any Other
Sub-Total (A)(1):- 548171157 100% 548171157 100%
(2) Foreign
a) NRI's-Individuals
b) Other Individuals
c)Bodies Corporate
d)Bank/FI's
e) Any Other
Sub-Total (A)(2):-
Total Shareholding of Promoter (A)=
548171157 100% 548171157 100%
(A)(1)+(A)(2)
B) Public Shareholding
1. Institutions
a) Mutual Funds
b) Banks/FI's
c) Central Govt.
d) State Govt.
e) Ventrure Capital Funds
f) Insurance Companies
g) FII's
h) Foreiegn Venture Capital
i)Others (Specify)
Sub-Total (B)(1):-
2. Non-Institutions
a) Bodies Corporate
i) Indian
ii) Overseas
b) Individuals
i) Individual Shareholders holding nominal
share capital in upto of Rs. 1 Lakh
ii) Individual Shareholders holding nominal
share capital in excess of Rs. 1 Lakh
c) Others
Sub-Total (B)(2):- 0 0
Total Public Shareholding (B)=(B)(1)+(B)(2)
36
C. Shares held by Custodians for ADR's &

GDR's
Grand Total
548171157 100% 548171157 100%
(A+B+C)
ii) Shareholding of Promoters

Shareholding at the Shareholding at the
S.No. Shareholder's Name
beginning of the year end of the year
% of total
Shares of % of total
No. of Shares No. of Shares
the Shares
company
1 Tata Sons Private Limited 548171157 100% 548171157 100%
Total 548171157 100% 548171157 100%
(iii) Change in Promoters' Shareholding (

please specify, if there is no change)
Cumulative
Shareholding at the
S.No. Shareholding
beginning of the year
duringthe year
% of Total
% of Total
Shares of
Tata Sons Private Limited No. of Shares No. of Shares Shares of the
the
Company
Company
1 At the beginning of the year 548171157 100% 548171157 100%
Date wise Increase / (Decrease) in Promoters
2 Shareholding during the year (Fresh equity
issue on rights basis)
3 At the end of the year 548171157 100% 548171157 100%
Total 548171157 100% 548171157 100%
(iv) Shareholding Pattern of top ten

Shareholders (other than Directors, Promoters
and Holders of GDRs and ADRs)
: Not Applicable
(v) Shareholding of Directors and Key
Managerial Personnel
: Not Applicable
V. INDEBTNESS
Indebtedness of the Company including
interest outstanding/accrued but not due for
payment
Secured Loans excluding Unsecured Total
Deposits
deposits Loans Indebtedness
Indebtedness at the beginning of the financial
year
i) Principal Amount 13403 Nil Nil 13403
ii) Interest accrued and due 21 21
37
iii) Interest accrued but not due 7 7

Total (i+ii+iii) 13431 13431
Changes in Indebtedness during the year
(principal)
Addition 12763 Nil Nil 12763
Redution 0 0
Net Change 12763 12763
Indebtedness at the end of the financial year
i) Principal Amount 26166 Nil Nil 26166
ii) Interest due but not paid 25 25
iii) Interest accrued but not due 47 47
Total (i+ii+iii) 26238 26238
VI. REMUNERATION TO DIRECTORS AND

KEY MANAGERIAL PERSONNEL:
A. Remuneration to Managing Director,
Whole-Time Director and/or Manager:
S.No. Particulars of Remuneration
Managing Director (Sukaran
Singh)
1 Gross salary
(a) Salary as per provisions contained in
23770748
section 17(1) of the Income-tax Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax
2758507
Act, 1961
(c) Profits in lieu of salary under section 17(3)
0
Income-tax Act, 1961
2 Stock Option 0
3 Sweat Equity Shares 0
4 Commission 0
- as % 0
-others 0
5 Others (Sitting fees) 0
Total (A) 26529255
Ceiling as per the Act
B. Remuneration to other Directors:

S.No. Particulars of Remuneration Name of Director
1 Independent Directors NIL

•Fee for attending Board Committee Meetings
•Commission
•Others
Total (1)
Prakash
2 Other Non-Executive Directors Ramadorai Subramanian Manjanath
Telang
•Fee for attending Board/Committee Meetings 600000 500000
•Commission
•Others
Total (2) 600000 500000
Total (B)(1)+(2) 31039255
Total Managerial Remuneration (A + B)
Overall Ceiling as per the Act - -
38
Radhika
Other Non-Executive Directors Ashok Sinha
Rajan
•Commission
•Others
Total (2) 400000 400000
Total (B)(1)+(2)
Norman
Other Non-Executive Directors Vijay Singh Anil Kumar
Browne
•Commission
•Others
Total (2) 950000 650000
Total (B)(1)+(2)
Kesava Menon Banmali

Other Non-Executive Directors Maya Sinha
Chandrasekhar Agrawala
•Fee for attending Board/Committee Meetings 650000 160000 200000
•Commission
•Others
Total (2) 650000 160000 200000
Total (B)(1)+(2)
Overall Ceiling as per the Act - - -
C. Remuneration to Key Managerial

Personnel Other than MD/MANAGER/WTD
S.No. Particulars of Remuneration Key Managerial Person
AVS
S R Venkatesan
Prasad
Chief
Company Secretary Finance
Officer
(Upto June
(Upto November 30, 2018)
25, 2018)
Remuneration includes
payment of retiral benefits &
final settlement
1 Gross salary
13734318 4573191
0 54313
Act, 1961
39
Income-tax Act, 1961 0 0

2 Stock Option 0 0
3 Sweat Equity Shares 0 0
4 Commission 0 0
- as % 0 0
-others 0 0
5 Others 0 0
Total 13734318 4627504
Kaushik
Murali Santhana Gopalan
Biswas
Company
Secretary
(w.e.f
(w.e.f June 25, 2018) December
01, 2018)
1 Gross salary
12142308 1602324
397375 0
Act, 1961
0 0
Income-tax Act, 1961
2 Stock Option 0 0
3 Sweat Equity Shares 0 0
4 Commission 0 0
- as % 0 0
-others 0 0
5 Others 0 0
Total 12539683 1602324
PENALITIES/PUNISHMENT/COMPOUNDING
VII.
OF OFFENCES:
Type Section of Brief Details of Authority Appeals Made
Penalty/Punishment/
The Companies Act Description Compounding of [RD/NCLT/Court]
Fees Imposed
A. COMPANY
Penalty NA
Punishment
Compounding
B. DIRECTORS
Penalty NA
Punishment
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty NA
Punishment
Compounding
For and on behalf of the Board of Directors of

40
VIJAY SINGH
CHAIRMAN
(DIN- 06610802)
Date: 09/05/2019
Place: Mumbai
Details of change in promoters shareholding [Text Block]

(iii) Change in Promoters' Shareholding ( please
specify, if there is no change)
Shareholding at Cumulative
S.No. the beginning of Shareholding
the year duringthe year
% of Total % of Total
Tata Sons Private Limited No. of Shares Shares of the No. of Shares Shares of the
Company Company
1 At the beginning of the year 548171157 100% 548171157 100%
Date wise Increase / (Decrease) in Promoters
2 Shareholding during the year (Fresh equity issue
on rights basis)
3 At the end of the year 548171157 100% 548171157 100%
Total 548171157 100% 548171157 100%
Disclosure of statement on declaration given by independent directors under section 149(6) [Text Block]
STATEMENT ON DECLARATION FROM INDEPENDENT DIRECTORS
The Company being a wholly owned Subsidiary of Tata Sons Private Limited, is exempted from the requirement of appointment of Independent
Directors.
Reappointment of independent directors as per section 149(10) [Text Block]

Ms. Maya Swaminathan Sinha (DIN: 03056226) was appointed as the Additional Director of the Company on January 14, 2019. A resolution
seeking shareholders’ approval for her appointment forms a part of the Notice.
41
Disclosure of statement on development and implementation of risk management policy [Text Block]
RISK MANAGEMENT POLICY
The Risk Management Policy of the company is approved by the Board in FY 16-17 with the objective to develop a framework to identify
substantial risk elements and mitigation plan for each identified Risk That Matters (RTMs). The Board of Directors of the Company have formed
a risk management committee to identify, assess, mitigate and monitor the risks using a Risk Management Plan for the Company. The Committee
is also responsible for reviewing and flowing down risks to respective functions of the Company to ensure adherence to the risk management plan
thereby deploying actions towards risk closure and effectiveness.
The Audit committee has additional oversight in the area of financial risks and controls. The critical and major risks are identified by businesses
and functions and systematically addressed through mitigation actions on an annual basis. Subsequently, TASL at group level has identified
RTM’s that have been shared with its subsidiaries.
42
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
ANNEXURE IV
ANNUAL REPORT ON CORPORATE SOCIAL
RESPONSIBILITY ACTIVITIES
A brief outline of the company's CSR policy,

including overview of projects or
1 programsproposed to be undertaken and a
reference to the web-link to the CSR policy and
projects or programs:
As a policy the Committee would evaluate,
recommend and monitor various initiatives which
would be in line with the CSR Activities as
defined under clause (1) of Schedule VII of the
Companies Act 2013. During the year, the
committee recommended the CSR spending
towards activities for promoting education among
children and preventive healthcare amongst local
residents & livelihood enhancement.
2 The Composition of the CSR Committee:

The CSR Committee comprises of
1) Mr. Vijay Singh (Chairman)
2) Mr. Sukaran Singh (MD & CEO) 3) Ms. Maya
Sinha(NED)
4) Mr. K M Chandrasekhar(NED)
Average net profit of the company for last three

3 955.22
financial years
Prescribed CSR Expenditure (two per cent. of the
4 19.11
amount as in item 3 above)
5 Details of CSR spent during the financial year.
(i) Total amount to be spent for the financial year; 19.17
(ii) Amount unspent, if any; 0
(iii) Manner in which the amount spent during the
financial year is detailed below
Projects or
Programs
(1)Local
area or Amount
Amount
other spent on
outlay
(2) Specify the
Sector in which (budget) Amount
S.No. CSR Activity or Project Identified the State Projects or
project is covered Project-wise spent:
and district Sub-heads:
(Rs. In
where (Rs in
lakhs)
projects or lakhs)
programs
was
undertaken
Direct or
through
Direct
implementing
agency *
43
Item (III) in Support

Promoting special education & livelihood Schedule VII of the Education
1 of young 0.11 0.09 Direct
enhancement Companies Act
2013 children at
adopted
homes
Welfare of
orphans
Setting up Homes for Orphans, Old Aged and
2 and aged at 2 2.12 Direct
Underpriveleged
adopted
homes
Support to
TS Police
3 department 17.00 16.96 Direct
in local
surveillance
Total 19.11 19.17
In case the company has failed to spend the two

per cent of the average net profit of the last three
6 financial years or any part thereof, the company NA
shall provide the reasons for not spending the
amount in its Board report.
The Company
confirms that
implementation
A responsibility statement of the CSR committee
and monitoring of
that the implementation and monitoring of CSR
7 CSR Policy is in
Policy, is in compliance with CSR objectives and
compliance with
Policy of the Company.
CSR objectives
and Policy of the
Company.
On behalf of the Board of
Tata Advanced Systems Limited
Vijay Singh
Chairman
Date: 09/05/2019
Place: Mumbai
44
Disclosure of financial summary or highlights [Text Block]

FINANCIAL OVERVIEW:
(Rupees in Crores)
Ind - AS Financials Standalone Consolidated
FY 2018-19 FY 2017-18 FY 2018-19 FY 2017-18
Total Revenue 526.70 422.86 564.02 391.02
Total Expenditure before depreciation 501.23 352.25 555.08 370.17
Profit / (Loss) before Interest, Depreciation, Exceptional items and Tax 25.47 70.61 8.94 20.85
Less: Finance charges 9.89 5.19 12.85 6.91
Less: Depreciation & Amortization 18.22 14.70 19.60 16.87
Add / (Less): Exceptional items (43.07) 51.06 (43.07) 51.06
Add / (Less): share of profit of JV - - 53.21 62.44
Profit / (Loss) Before Tax 40.43 (0.34) 72.77 8.45
Tax expense 6.37 (12.28) 6.37 (18.84)
Profit / (Loss) after tax 34.06 11.94 66.40 27.29
Other comprehensive Income 0.02 1.04 0.33 2.03
Total Comprehensive Income for the period 34.08 12.98 66.73 29.32
TASL Standalone Revenue has recorded an increase by 24.6% from Rs. 422.86 crores in FY 2017-18 to Rs. 526.70 crores in FY 2018-19.
TASL Consolidated revenue has recorded an increase by 44.2% from Rs. 391.02 crores in FY 2017-18 to Rs. 564.02 crores in FY 2018-19.
45
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
DIRECTORS AND KEY MANAGERIAL PERSONNEL
Appointment
In the Annual General Meeting (AGM) held on August 28, 2018 the following Directors were appointed:
1. Mr. Vijay Singh (DIN 06610802)

2. Mr. Banmali Agrawala (DIN 00120029)
3. Mr. Norman Anil Kumar Browne (DIN 08153434) and
4. Mr. Kesava Menon Chandrasekhar (DIN 06466854)
Further in the Board Meeting held on August 28, 2018, Mr. Vijay Singh was unanimously appointed as the Chairman of the Company.
Cessation
Mr. Ramadorai Subramanian (DIN 00000002) and Mr. Prakash Manjanath Telang (DIN 00012562), ceased to be Directors of the Company
w.e.f August 28, 2018 on completion of their respective term.
Further Mr. Ashok Sinha (DIN 00070477) and Ms. Radhika Rajan (DIN 00499485) who were appointed by the Board on March 22, 2018 as
Additional Directors of the Company held their respective offices upto the date of the AGM i.e. August 28, 2018.
Mr. A V S Prasad resigned as the Chief Financial Officer of the Company on June 25, 2018. On the recommendation of the Nomination and
Remuneration Committee, the Board in its meeting held on June 25, 2018 appointed Mr. S G Murali as the Chief Financial Officer of the
Company.
Company Secretary
Mr. S R Venkatesan on attaining Superannuation on November 30, 2018 ceased to be the Company Secretary of the Company. On the
recommendation of the Nomination and Remuneration Committee, the Board in its meeting held on October 12, 2018 appointed Mr. Kaushik
Biswas as the Company Secretary of the Company with effect from December 01, 2018.
Disclosure of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies
during year [Text Block]
ACQUISITION OF TAL MANUFACTURING SOLUTIONS LIMITED
Pursuant to Share Purchase Agreement dated 29th May, 2018, Tata Advanced System Limited (TASL) has acquired 100% shareholding of TAL
Manufacturing Solutions Limited from Tata Motors Limited effective from 29th March, 2019. This acquisition is part of the Tata Group Strategy
to integrate the Aerospace & Defence Companies under single umbrella to enhance the value to stakeholders including customers, vendors, banks
and employees and shareholders. TAL will continue its registered office at Pune and having its Aerospace Unit at Nagpur.
Pursuant to Share Purchase Agreement dated 29th May, 2018 and Business Transfer Agreement dated 26th March, 2019, TAL has
sold/transferred the Non-Aerospace Business (IMS, FPS, RAA - IBU divisions) at Pune to the Tata Motors Ltd at a consideration of Rs.0.10
Crores by transferring all the assets, liabilities and 244 employees of the said business including few common employees.
46
Details relating to deposits covered under chapter v of companies act [Text Block]
DEPOSITS FROM PUBLIC
The Company has not accepted any deposits from the public during the year under review. No amount on account of principal or interest on
deposits from public was outstanding as on March 31, 2019.
Details of deposits which are not in compliance with requirements of chapter v of act [Text Block]
DEPOSITS FROM PUBLIC
The Company has not accepted any deposits from the public during the year under review. No amount on account of principal or interest on
deposits from public was outstanding as on March 31, 2019.
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIALS STATEMENTS
The Company has aligned its current system of Internal Control over Financial Reporting framework with the requirements of the Companies Act
2013. The Internal Control framework is intended to provide a holistic view of the operations with accountability mapped to all relevant
functions. The internal controls are commensurate with the size and nature of business.
The risk control matrix is framed with the objective to provide reasonable assurance pertaining to recording and presentation of reliable financial
and operational information, compliance with the applicable regulations, safeguard of company assets, execution of transactions as per Delegation
of Authority and related company policies.
The management is assessing the effectiveness of the company’s internal control procedures through self-review, internal and external audits at
regular intervals to ensure sustained effectiveness of the internal financial controls (IFC). The Board of Directors are of the opinion that the
Company has adequate internal financial control that is operating effectively as of 31st March 2019.
The Statutory Auditors have also assessed the IFC and concluded that the internal financial controls were adequate and operating effectively.
Disclosure of contents of corporate social responsibility policy [Text Block]

A brief outline of the company's CSR policy, including overview of projects or programsproposed to be undertaken and a
reference to the web-link to the CSR policy and projects or programs:
As a policy the Committee would evaluate, recommend and monitor various initiatives which would be in line with the CSR
Activities as defined under clause (1) of Schedule VII of the Companies Act 2013. During the year, the committee recommended
the CSR spending towards activities for promoting education among children and preventive healthcare amongst local residents
& livelihood enhancement.
47
Disclosure of appointment and remuneration of director or managerial personnel if any, in the financial year [Text
Block]
DIRECTORS AND KEY MANAGERIAL PERSONNEL
Appointment
In the Annual General Meeting (AGM) held on August 28, 2018 the following Directors were appointed:
1. Mr. Vijay Singh (DIN 06610802)

2. Mr. Banmali Agrawala (DIN 00120029)
3. Mr. Norman Anil Kumar Browne (DIN 08153434) and
4. Mr. Kesava Menon Chandrasekhar (DIN 06466854)
Further in the Board Meeting held on August 28, 2018, Mr. Vijay Singh was unanimously appointed as the Chairman of the Company.
Cessation
Mr. Ramadorai Subramanian (DIN 00000002) and Mr. Prakash Manjanath Telang (DIN 00012562), ceased to be Directors of the Company
w.e.f August 28, 2018 on completion of their respective term.
Further Mr. Ashok Sinha (DIN 00070477) and Ms. Radhika Rajan (DIN 00499485) who were appointed by the Board on March 22, 2018 as
Additional Directors of the Company held their respective offices upto the date of the AGM i.e. August 28, 2018.
Mr. A V S Prasad resigned as the Chief Financial Officer of the Company on June 25, 2018. On the recommendation of the Nomination and
Remuneration Committee, the Board in its meeting held on June 25, 2018 appointed Mr. S G Murali as the Chief Financial Officer of the
Company.
Company Secretary
Mr. S R Venkatesan on attaining Superannuation on November 30, 2018 ceased to be the Company Secretary of the Company. On the
recommendation of the Nomination and Remuneration Committee, the Board in its meeting held on October 12, 2018 appointed Mr. Kaushik
Biswas as the Company Secretary of the Company with effect from December 01, 2018.
48
Disclosure of composition of audit committee and non-acceptance of any recommendation of audit committee along
with reasons [Text Block]
Audit Committee
The Ministry of Corporate Affairs vide its Notification dated July 05, 2017 & July 13, 2017 amended Rule 4 of the Companies (Appointment and
Qualification of Directors) Rules, 2014 (“Appointment Rules”) & Rule 6 of the Companies (Meeting of the Board and its Power) Rules, 2014
(“Meeting Rules”) of the Companies Act 2013 respectively. Accordingly the Company is exempted from constituting Audit Committee.
However, as a matter of good corporate governance the Board of Directors have decided to retain the Audit Committee.
The primary objective of the Audit Committee is to monitor and provide effective supervision of the Management’s financial reporting process, to
ensure accurate and timely disclosures, with the highest levels of transparency, integrity and quality of financial reporting.
All the members of the Committee have deep knowledge in accounts and finance.

2. Mr. Vijay Singh
3. Mr. K M Chandrasekhar and
4. Ms. Maya Sinha.
The Committee met 3 times during the year on the following dates:
1. May 11, 2018,

2. December 19, 2018
3. March 15, 2019
Disclosure of details of establishment of vigil mechanism [Text Block]
VIGIL MECHANISM/WHISTLE BLOWER POLICY
Company has an established Vigil Mechanism, which provides a formal platform for all employees to approach the Management of the Company
(Audit Committee in case where the concern involves the Senior Management) and make protective disclosures to the Management about
unethical behavior, actual or suspected fraud or violation of the Company’s Code of Conduct or ethics policy. The disclosures reported shall be
addressed in the manner and within the time frames prescribed in the Policy.
49
Disclosure of policy formulated by nomination and remuneration committee relating to remuneration for directors,
key managerial personnels and other employees [Text Block]
NOMINATION AND REMUNERATION COMMITTEE (“NRC”):
The Ministry of Corporate Affairs vide its Notification dated July 05, 2017 & July 13, 2017
Amended Rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014 (“Appointment Rules”) & Rule 6 of the Companies
(Meeting of the Board and its Power) Rules, 2014 (“Meeting Rules”) of the Companies Act 2013, respectively. Accordingly, the Company is
exempted from constituting NRC. However, as a matter of good corporate governance the Board of Directors have decided to retain the NRC.
The objectives of the NRC is to identify persons who are qualified to become directors and who may be appointed in senior management in
accordance with the criteria laid down, recommend to the Board their appointment and removal and shall carry out evaluation of every director’s
performance.
The role and function of NRC includes criteria for determining qualifications, positive attributes and independence of a Director and recommend
to the Board a policy, relating to the remuneration for the Directors, Key Managerial Personnel and other employees.

2. Mr. Vijay Singh
3. Mr. N A K Browne
The Meeting of the Nomination and Remuneration Committee (“NRC”) was held twice (2) during the year on the following dates.
1. May 11, 2018

2. February 21, 2019
50
Disclosure of report concerns about unethical behaviour, actual or suspected fraud or violation of company’s code of
conduct or ethics policy [Text Block]
DISCLOSURES AS PER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013
The Company has adopted zero tolerance for sexual harassment at workplace and has formulated a policy on prevention, prohibition and redressal
of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 and the rules framed thereunder for prevention and redressal of complaints of sexual harassment at workplace. Awareness
programs were conducted at various locations of the Company. The Company has complied with provisions relating to the constitution of Internal
Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the year under
review, the Company received one complaint of sexual harassment and the same was resolved. There was no complaint pending as on March 31,
2019.
S
Particulars Remarks
No.
Number of sexual harassment

1
complaints received in FY 2018-19.
Number of complaints disposed off

1
during FY 2018-19.
Number of cases pending for more than

0
90 days.
Number of awareness programs or

4. workshops against sexual harassment 12
conducted during the year.
Nature of action taken by the employer Formal Warning letter sent to Manpower Service Provider apprising him of the
5. or district officer with respect to the sexual harassment act, committed by their employee and debarring the employee
cases. from entering the plant premises forever.
The Company has complied with the provisions relating to the constitution of Internal Committee under the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013.
[700500] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)

Directors signing financial statements [Axis] 1 2
01/04/2018 01/04/2018
to to
31/03/2019 31/03/2019
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director VIJAY SUKARAN
Last name of director SINGH SINGH
MANAGING
Designation of director CHAIRMAN
DIRECTOR
Director identification number of director 06610802 01485745
Date of signing of financial statements by director 09/05/2019 09/05/2019
51

01/04/2018
to
31/03/2019
Name of company secretary KAUSIK BISWAS
Permanent account number of company secretary AGXPB6873D
Date of signing of financial statements by company secretary 09/05/2019
Name of chief financial officer MURALI SANTHANA GOPALAN
Permanent account number of chief financial officer ADKPS8432K
Date of signing of financial statements by chief financial officer 09/05/2019
[700400] Disclosures - Auditors report
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Auditor's Clause not
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] favourable remark applicable
[Member] [Member]
01/04/2018 01/04/2018
to to
31/03/2019 31/03/2019
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [LineItems]
Disclosure in auditors report relating to fixed assets (A) As per footnote
Disclosure relating to quantitative details of fixed assets (B) As per footnote
Disclosure relating to physical verification and material discrepancies of fixed
(C) As per footnote
assets
Disclosure relating to title deeds of immovable properties (D) As per footnote
Disclosure in auditors report relating to inventories (E) As per footnote
Disclosure in auditors report relating to loans (F) As per footnote
Disclosure about loans granted to parties covered under section 189 of companies
(G) As per footnote
act
Disclosure relating to terms and conditions of loans granted (H) As per footnote
Disclosure regarding receipt of loans granted (I) As per footnote
Disclosure regarding terms of recovery of loans granted (J) As per footnote
Disclosure in auditors report relating to compliance with Section 185 and 186 of
(K) As per footnote
Companies Act, 2013
Disclosure in auditors report relating to deposits accepted (L) As per footnote
(M) As per
Disclosure in auditors report relating to maintenance of cost records footnote
Disclosure in auditors report relating to statutory dues [TextBlock] (N) As per footnote
Disclosure relating to regularity in payment of undisputed statutory dues
(O) As per footnote
[TextBlock]
Disclosure relating to disputed statutory dues [TextBlock] (P) As per footnote
Disclosure in auditors report relating to default in repayment of financial dues (Q) As per footnote
Disclosure in auditors report relating to public offer and term loans used for
(R) As per footnote
purpose for which those were raised
Disclosure in auditors report relating to fraud by the company or on the
(S) As per footnote
company by its officers or its employees reported during period
Disclosure in auditors report relating to managerial remuneration (T) As per footnote
Disclosure in auditors report relating to Nidhi Company (U) As per footnote
Disclosure in auditors report relating to transactions with related parties (V) As per footnote
Disclosure in auditors report relating to preferential allotment or private (W) As per
placement of shares or convertible debentures footnote
Disclosure in auditors report relating to non-cash transactions with directors
(X) As per footnote
or persons connected with him
Disclosure in auditors report relating to registration under section 45-IA of
(Y) As per footnote
Reserve Bank of India Act, 1934
52
Footnotes
(A)
(i)(a)The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.
(b)The Company has a programme of verification of fixed assets to cover all items in a phased manner over a period of three years
which, in our opinion, provides for physical verification of all the fixed assets at reasonable intervals. Pursuant to the programme, none of
the fixed assets were due for physical verification in the current year.
(c)According to the information and explanations given to us and the records examined by us we report that, the title deeds, comprising
all the immovable properties of land and buildings, which are freehold, are held in the name of the Company as at the balance sheet date.
In respect of immovable properties of land that have been taken on lease, the lease agreements are in the name of the Company, where
the Company is the lessee in the agreement as at the balance sheet date, except the following:
Particulars of the landCarrying amount
(Rs in lakhs)Remarks
Leasehold land504Lease deed in respect of land admeasuring 14.5 acres at Adibatla, Hyderabad is pending registration.
(B) (a)The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.
(C) (b)The Company has a programme of verification of fixed assets to cover all items in a phased manner over a period of three years
which, in our opinion, provides for physical verification of all the fixed assets at reasonable intervals. Pursuant to the programme, none of
the fixed assets were due for physical verification in the current year.
(D)
(c)According to the information and explanations given to us and the records examined by us we report that, the title deeds, comprising
all the immovable properties of land and buildings, which are freehold, are held in the name of the Company as at the balance sheet date.
In respect of immovable properties of land that have been taken on lease, the lease agreements are in the name of the Company, where
the Company is the lessee in the agreement as at the balance sheet date, except the following:
Particulars of the landCarrying amount
(Rs in lakhs)Remarks
Leasehold land504Lease deed in respect of land admeasuring 14.5 acres at Adibatla, Hyderabad is pending registration.
(E) (ii)As explained to us, the inventories were physically verified during the year by the Management at reasonable intervals and no
material discrepancies were noticed on physical verification.
(F)
(iii)According to the information and explanations given to us, the Company has granted loans, unsecured, to Company covered in the
register maintained under Section 189 of the Companies Act, 2013, in respect of which:
a.The terms and conditions of the grant of such loans are, in our opinion, prima facie, not prejudicial to the Company’s interest.
b.The loans granted by the Company are repayable on demand.
c.There is no overdue amount remaining outstanding as at the year-end.
(G)
(iii)According to the information and explanations given to us, the Company has granted loans, unsecured, to Company covered in the
a.The terms and conditions of the grant of such loans are, in our opinion, prima facie, not prejudicial to the Company’s interest.
b.The loans granted by the Company are repayable on demand.
c.There is no overdue amount remaining outstanding as at the year-end.
(H) a.The terms and conditions of the grant of such loans are, in our opinion, prima facie, not prejudicial to the Company’s interest.
(I) c.There is no overdue amount remaining outstanding as at the year-end.
(J) b.The loans granted by the Company are repayable on demand.
(K) (iv)In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of
Sections 185 and 186 of the Companies Act, 2013 in respect of grant of loans, making investments and providing guarantees, as
applicable.
(L) (v)According to the information and explanations given to us, the Company has not accepted any deposit during the year. There are
no unclaimed deposits to which the provisions of Section 73 to 76 or any other relevant provisions of the Companies Act, 2013 apply.
(M) (vi)The maintenance of cost records has been specified by the Central Government under section 148(1) of the Companies Act,
2013. We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Records and Audit)
Rules, 2014, as amended, prescribed by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013, and
are of the opinion that, prima facie, the prescribed cost records have been made and maintained. We have, however, not made a detailed
examination of the cost records with a view to determine whether they are accurate or complete.
(N)
(vii)According to the information and explanations given to us, in respect ofstatutory dues:
(a)The Company has generally been regular in depositing undisputed statutory dues, including Provident Fund, Employees’ State
Insurance, Income-tax, Sales tax, Service tax, , Custom duty, Excise duty, Value added tax, cess and other material statutory dues
applicable to it with the appropriate authorities.
(b)There were no undisputed amounts payable in respect of Provident Fund, Employees’ State Insurance, Income-tax, Sales tax, Service
tax, Customs duty, Excise duty, Value added tax, cess and other material statutory dues in arrears as at March 31, 2019 for a period of
more than six months from the date they became payable.
(c)Details of dues of Income-tax and Value added tax which have not been deposited as on March 31, 2019 on account of disputes are
given below:
Name of StatuteNature of DuesForum where Dispute is PendingPeriod to which the Amount RelatesAmount involved
(Rs in lakhs)Amount unpaid
(Rs in lakhs)
The Income-tax Act, 1961Income-taxCommissioner of Income-tax (Appeals) 2012-13 and 2013-1455
53
Value
added taxValue added taxCommissioner of Commercial taxes2012-13181181
There are no dues of Sales tax, Service tax, Customs Duty and Excise duty as at March 31, 2019 on account of any disputes.
(O)
(a)The Company has generally been regular in depositing undisputed statutory dues, including Provident Fund, Employees’ State
Insurance, Income-tax, Sales tax, Service tax, , Custom duty, Excise duty, Value added tax, cess and other material statutory dues
applicable to it with the appropriate authorities.
(b)There were no undisputed amounts payable in respect of Provident Fund, Employees’ State Insurance, Income-tax, Sales tax, Service
tax, Customs duty, Excise duty, Value added tax, cess and other material statutory dues in arrears as at March 31, 2019 for a period of
more than six months from the date they became payable.
(P)
(c)Details of dues of Income-tax and Value added tax which have not been deposited as on March 31, 2019 on account of disputes are
given below:
Name of StatuteNature of DuesForum where Dispute is PendingPeriod to which the Amount RelatesAmount involved
(Rs in lakhs)Amount unpaid
(Rs in lakhs)
The Income-tax Act, 1961Income-taxCommissioner of Income-tax (Appeals) 2012-13 and 2013-1455
Value
added taxValue added taxCommissioner of Commercial taxes2012-13181181
(Q) (viii)In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment
of loans or borrowings to banks. The Company has not obtained loans from financial institutions and Government, and has not issued any
debentures.
(R) (ix)The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) during the
year. In our opinion and according to the information and explanations given to us, the term loans have been applied by the Company
during the year for the purposes for which they were obtained.
(S) (x)To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no
material fraud on the Company by its officers or employees has been noticed or reported during the year.
(T) (xi)In our opinion and according to the information and explanations given to us, the remuneration paid/provided by the Company to
the Managing Director during the year is in accordance with the requisite approvals mandated by the provisions of Section 197 read with
Schedule V to the Companies Act, 2013, and the commission provided in respect of the Non-Executive Directors is subject to the
approval of shareholders by a special resolution at the ensuing general meeting of the Company.
(U) (xii)The Company is not a Nidhi Company and hence reporting under clause (xii) of the Order is not applicable.
(V) (xiii)In our opinion and according to the information and explanations given to us the Company is in compliance with Section 177
and 188 of the Companies Act, 2013, where applicable, for all transactions with the related parties and the details of related party
transactions have been disclosed in the financial statements etc. as required by the applicable accounting standards.
(W) (xiv)During the year the Company has not made any preferential allotment or private placement of shares or fully or partly
convertible debentures and hence reporting under clause (xiv) of the Order is not applicable.
(X) (xv)In our opinion and according to the information and explanations given to us, during the year the Company has not entered into
any non-cash transactions with its directors or directors of its holding, subsidiary or associate company or persons connected with them
and hence provisions of Section 192 of the Companies Act, 2013 are not applicable.
(Y) (xvi)The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934.
Details regarding auditors [Table] ..(1)

Auditors [Axis] 1
01/04/2018
to
31/03/2019
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
DELOITTE
Name of audit firm HASKINS &
SELLS LLP
Name of auditor signing report SUMIT TRIVEDI
Firms registration number of audit firm 117366W/W100018
Membership number of auditor 209354
Plot No 1 to 4 & 4A
1st, 2nd and 3rd
Address of auditors Floor, Jubilee
Enclave, Madhapur,
Hyderabad 500081
Permanent account number of auditor or auditor's firm AACFD4815A
SRN of form ADT-1 Z99999999
Date of signing audit report by auditors 09/05/2019
Date of signing of balance sheet by auditors 09/05/2019
54

01/04/2018
to
31/03/2019
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
No
contains adverse remarks
Auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report NIL
55
Disclosure in auditor’s report explanatory [Text Block]
INDEPENDENT AUDITOR’S REPORT

To The Members of TATA Advanced Systems Limited
Report on the Audit of the Standalone Financial Statements
Opinion
We have audited the accompanying standalone financial statements of TATA Advanced Systems Limited (“the Company”), which comprise the
Balance Sheet as at March 31, 2019, and the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Cash Flows
and the Statement of Changes in Equity for the year then ended, and a summary of significant accounting policies and other explanatory
information.
In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of report of the
other auditors on separate financial statements/ financial information referred to in the Other Matters section below, the aforesaid standalone
financial statements give the information required by the Companies Act, 2013 (“the Act”) in the manner so required and give a true and fair view
in conformity with the Indian Accounting Standards prescribed under Section 133 of the Act read with the Companies (Indian Accounting
Standards) Rules, 2015, as amended (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company
as at March 31, 2019, and its profit, total comprehensive income, its cash flows and the changes in equity for the year ended on that date.
Basis for Opinion

We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing specified under Section 143(10) of
the Act (SAs). Our responsibilities under those Standards are further described in the Auditor’s Responsibility for the Audit of the Standalone
Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the
Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the standalone financial
statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance
with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us and the audit evidence obtained by the
other auditors in terms of their reports referred to in the Other Matters section below, is sufficient and appropriate to provide a basis for our audit
opinion on the standalone financial statements.
Emphasis of Matter
As explained in Note 52 of the Standalone Financial Statements, the Company has investments in Nova Integrated Systems Limited (Nova) and
Aurora Integrated Systems Private Limited (Aurora), wholly owned subsidiaries of the Company, with a carrying value of investments of ` 12,075
lakhs and ` 2,031 lakhs, respectively, and loans outstanding and interest accrued thereon aggregating ` 502 lakhs and ` 1,340 lakhs to Nova and
Aurora, respectively, as at March 31, 2019, whose financial position as at that date indicate a significant erosion in their respective net-worths.
For the reasons stated in the aforesaid Note, the Management has determined that there is no impairment provision required to the carrying values
of such investments and loans as at March 31, 2019.
Our opinion is not modified in respect of this matter.
Management’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Act with respect to the preparation of these
standalone financial statements that give a true and fair view of the financial position, financial performance including other comprehensive
income, cash flows and changes in equity of the Company in accordance with the Ind AS and other accounting principles generally accepted in
India. This responsibility also includes 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 frauds and other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the standalone financial statement that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
In preparing the standalone financial statements, management is responsible for assessing the Company’s ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to
liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibility for the Audit of the Standalone Financial Statements
Our objectives are to obtain reasonable assurance about whether the standalone financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these standalone financial statements.
56
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We
also:
• Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and
perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal financial control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate
internal financial controls system in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by
the management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained,
whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a
going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures
in the standalone financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a
going concern.
• Evaluate the overall presentation, structure and content of the standalone financial statements, including the disclosures, and whether the
standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the Company to express an opinion on the standalone
financial statements. We are responsible for the direction, supervision and performance of the audit of the financial statements of such entity or
business activities included in the standalone financial statements of which we are the independent auditors. For the other entity or business
activities included in the standalone financial statements, which have been audited by the other auditors, such other auditors remain responsible
for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
Materiality is the magnitude of misstatements in the standalone financial statements that, individually or in aggregate, makes it probable that the
economic decisions of a reasonably knowledgeable user of the standalone financial statements may be influenced. We consider quantitative
materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the
effect of any identified misstatements in the standalone financial statements.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant
audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and
where applicable, related safeguards.
Other Matters
We did not audit the accounts/ financial information of erstwhile TASEC Limited for the year ended March 31, 2019, (refer Note 53 of the
standalone financial statements which describes the Amalgamation of TASEC Limited with TATA Advanced Systems Limited w.e.f April 1,
2018), whose accounts/ financial information reflect total assets of ` 5,027 lakhs as at March 31, 2019 and total revenue of ` 4,277 lakhs for the
year ended on that date, as considered in the standalone financial statements. These accounts/ financial information have been audited by the
other auditors whose reports have been furnished to us, and our opinion in so far as it relates to the amounts and disclosures included in respect of
this entity, and our report in terms of subsection (3) of Section 143 of the Act, in so far as it relates to the aforesaid entity, is based solely on the
report of such other auditors.
Our opinion on the standalone financial statements and our Report on Other Legal and Regulatory Requirements below is not modified in respect
of these matters.
Report on Other Legal and Regulatory Requirements
1. As required by Section 143(3) of the Act, based on our audit and on the consideration of the report of the other auditors on the separate
financial statements/financial information referred to in the Other Matters section above we report, to the extent applicable that:
a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of our audit.
b) In our opinion, proper books of account as required by law have been kept by the Company and its other entity so far as it appears from our
examination of those books and the report of the other auditors.
c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, the Statement of Cash Flows and Statement of
Changes in Equity dealt with by this Report are in agreement with the relevant books of account.
d) In our opinion, the aforesaid standalone financial statements comply with the Ind AS specified under Section 133 of the Act.
e) On the basis of the written representations received from the directors as on March 31, 2019 taken on record by the Board of Directors of the
Company, none of the directors is disqualified as on March 31, 2019 from being appointed as a director in terms of Section 164(2) of the Act.
57
f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of
such controls, refer to our separate Report in “Annexure A”. Our report expresses an unmodified opinion on the adequacy and operating
effectiveness of the Company’s internal financial controls over financial reporting.
g) With respect to the other matters to be included in the Auditor’s Report in accordance with the requirements of Section 197(16) of the Act, as
amended, in our opinion and to the best of our information and according to the explanations given to us, the remuneration paid/provided by the
Company to the Managing Director during the year is in accordance with the provisions of Section 197 of the Act and the commission provided in
respect of Non-Executive Directors is subject to the approval of shareholders by a special resolution at the ensuing general meeting of the
Company.
h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, as amended in our opinion and to the best of our information and according to the explanations given to us:
i. The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements;
ii. The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable
losses, if any, on long-term contracts including derivative contracts;
iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.
2. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”) issued by the Central Government in terms of Section 143(11) of
the Act, we give in “Annexure B” a statement on the matters specified in paragraphs 3 and 4 of the Order.
For DELOITTE HASKINS & SELLS LLP

Chartered Accountants
(F.R.N. 117366W/W100018)
Sumit Trivedi
(Partner)
(Membership No. 209354)
Place: Mumbai
Date: May 9, 2019
ANNEXURE “A” TO THE INDEPENDENT AUDITOR’S REPORT

(Referred to in paragraph 1(f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)
Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013
(“the Act”)
We have audited the internal financial controls over financial reporting of TATA Advanced Systems Limited (“the Company”) as of March 31,
2019 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date which includes
accounts/financial information of the entity merged into the Company.
Management’s Responsibility for Internal Financial Controls
The Company’s management is responsible for establishing and maintaining internal financial controls based on the internal control over financial
reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of
Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the
design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and
efficient conduct of its business, including adherence to Company’s policies, the safeguarding of its assets, the prevention and detection of frauds
and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required
under the Companies Act, 2013.
Auditor’s Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting of the Company based on our
audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the
“Guidance Note”) issued by the Institute of Chartered Accountants of India and the Standards on Auditing prescribed under Section 143(10) of
the Companies Act, 2013, to the extent applicable to an audit of internal financial controls. Those Standards and the Guidance Note require that
we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial
controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.
58
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial
reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of
internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and
operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained and audit evidence obtained by the other auditors, in terms of their report referred to in the
Other Matters Section below, is sufficient and appropriate to provide a basis for our audit opinion on the Company’s internal financial controls
system over financial reporting.
Meaning of Internal Financial Controls Over Financial Reporting
A Company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
A Company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of
management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised
acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls Over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper
management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation
of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial
reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may
deteriorate.
Opinion
In our opinion, to the best of our information and according to the explanations given to us and based on the consideration of the report of the
other auditors on internal financial controls system over financial reporting of the entity referred to in the Other Matters Section below, the
Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls
over financial reporting were operating effectively as at March 31 2019, based on the criteria for internal financial control over financial reporting
established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.
Other Matters
Our aforesaid report under Section 143(3)(i) of the Act on the adequacy and operating effectiveness of the internal financial controls over
financial reporting insofar as it relates to the entity merged into the Company (refer Note 53 of the standalone financial statements), is based on
the corresponding report of the other auditors..
Our opinion is not modified in respect of this matter.

(F.R.N. 117366W/W100018)
Sumit Trivedi
(Partner)
Place: Mumbai
59
Date: May 9, 2019

ANNEXURE “B” TO THE INDEPENDENT AUDITOR’S REPORT
(Referred to in paragraph 2 under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)
(a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed
assets.
(b) The Company has a programme of verification of fixed assets to cover all items in a phased manner over a period of three
years which, in our opinion, provides for physical verification of all the fixed assets at reasonable intervals. Pursuant to the
programme, none of the fixed assets were due for physical verification in the current year.
(c) According to the information and explanations given to us and the records examined by us we report that, the title deeds,
comprising all the immovable properties of land and buildings, which are freehold, are held in the name of the Company as at
the balance sheet date.
(i) In respect of immovable properties of land that have been taken on lease, the lease agreements are in the name of the
Company, where the Company is the lessee in the agreement as at the balance sheet date, except the following:
Carrying
Particulars of the
amount Remarks
land
(` in lakhs)
Lease deed in respect of land admeasuring 14.5 acres at Adibatla, Hyderabad is

Leasehold land 504
pending registration.
(ii) As explained to us, the inventories were physically verified during the year by the Management at reasonable intervals and no material
discrepancies were noticed on physical verification.
(iii) According to the information and explanations given to us, the Company has granted loans, unsecured, to Company covered in the
a. The terms and conditions of the grant of such loans are, in our opinion, prima facie, not prejudicial to the Company’s interest.
b. The loans granted by the Company are repayable on demand.
c. There is no overdue amount remaining outstanding as at the year-end.
(iv) In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of Sections
185 and 186 of the Companies Act, 2013 in respect of grant of loans, making investments and providing guarantees, as applicable.
(v) According to the information and explanations given to us, the Company has not accepted any deposit during the year. There are no
unclaimed deposits to which the provisions of Section 73 to 76 or any other relevant provisions of the Companies Act, 2013 apply.
(vi) The maintenance of cost records has been specified by the Central Government under section 148(1) of the Companies Act, 2013. We
have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Records and Audit) Rules, 2014, as
amended, prescribed by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013, and are of the opinion that,
prima facie, the prescribed cost records have been made and maintained. We have, however, not made a detailed examination of the cost records
with a view to determine whether they are accurate or complete.
(vii) According to the information and explanations given to us, in respect of statutory dues:
(a) The Company has generally been regular in depositing undisputed statutory dues, including Provident Fund, Employees’ State Insurance,
Income-tax, Sales tax, Service tax, , Custom duty, Excise duty, Value added tax, cess and other material statutory dues applicable to it with the
appropriate authorities.
(b) There were no undisputed amounts payable in respect of Provident Fund, Employees’ State Insurance, Income-tax, Sales tax, Service tax,
Customs duty, Excise duty, Value added tax, cess and other material statutory dues in arrears as at March 31, 2019 for a period of more than six
months from the date they became payable.
(c) Details of dues of Income-tax and Value added tax which have not been deposited as on March 31, 2019 on account of disputes are given
below:
60
Amount Amount
Nature of Period to which the Amount
Name of Statute Forum where Dispute is Pending involved unpaid
Dues Relates
(` in lakhs) (` in lakhs)
The Income-tax Act, Commissioner of Income-tax

Income-tax 2012-13 and 2013-14 5 5
1961 (Appeals)
Value Value added Commissioner of Commercial

2012-13 181 181
added tax tax taxes
(viii) In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment of loans
or borrowings to banks. The Company has not obtained loans from financial institutions and Government, and has not issued any debentures.
(ix) The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) during the year. In
our opinion and according to the information and explanations given to us, the term loans have been applied by the Company during the year for
the purposes for which they were obtained.
(x) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no material
fraud on the Company by its officers or employees has been noticed or reported during the year.
(xi) In our opinion and according to the information and explanations given to us, the remuneration paid/provided by the Company to the
Managing Director during the year is in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V
to the Companies Act, 2013, and the commission provided in respect of the Non-Executive Directors is subject to the approval of shareholders by
a special resolution at the ensuing general meeting of the Company.
(xii) The Company is not a Nidhi Company and hence reporting under clause (xii) of the Order is not applicable.
(xiii) In our opinion and according to the information and explanations given to us the Company is in compliance with Section 177 and 188 of
the Companies Act, 2013, where applicable, for all transactions with the related parties and the details of related party transactions have been
disclosed in the financial statements etc. as required by the applicable accounting standards.
(xiv) During the year the Company has not made any preferential allotment or private placement of shares or fully or partly convertible
debentures and hence reporting under clause (xiv) of the Order is not applicable.
(xv) In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any
non-cash transactions with its directors or directors of its holding, subsidiary or associate company or persons connected with them and hence
provisions of Section 192 of the Companies Act, 2013 are not applicable.
(xvi) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934.

(F.R.N. 117366W/W100018)
Sumit Trivedi
(Partner)
Place: Mumbai
Date: May 9, 2019
61
[700700] Disclosures - Secretarial audit report
Details of signatories of secretarial audit report [Table] ..(1)

Signatories of secretarial audit report [Axis] 1
01/04/2018
to
31/03/2019
Details of signatories of secretarial audit report [Abstract]
Details of signatories of secretarial audit report [LineItems]
Secretarial auditors
Category of secretarial auditor firm
Name of secretarial audit firm PI & ASSOCIATES
RACHARLA
Name of secretarial auditor signing report RAMAKRISHNA
GUPTA
Firms registration number of secretarial audit firm 6696
Membership number of secretarial auditor 5523
Certificate of practice number of secretarial auditor 6696
Office No. T 202,
Technopolis,
1-10-74/B, Above
Address of secretarial auditors Ratnadeep Super
Market, Chikoti
Gardens, Begumpet,
Hyderabad - 500016.
Permanent account number of secretarial auditor or secretarial auditors firm AAQFP9548J
Date of signing secretarial audit report 09/05/2019

01/04/2018
to
31/03/2019
Disclosure in secretarial audit report explanatory [TextBlock] [See below]
Whether secretarial audit report is applicable on company Yes
Whether secretarial audit report has been qualified or has any
No
observation or other remarks
Secretarial qualifications or observations or other remarks in

secretarial audit report N I L
62
Disclosure in secretarial audit report explanatory [Text Block]

Form No. MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2019
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies (Appointment and Remuneration Personnel) Rules,
2014]
To,
The Members,
Tata Advanced Systems Limited.
Hardware Park, Plot No 21, Sy No 1/1
Imarat Kancha, Raviryala Village
Maheshwaram Mandal, Hyderabad- 501218
Telangana, India
We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by
Tata Advanced Systems Limited (hereinafter called “the Company”). Secretarial Audit was conducted in a manner that provided us a reasonable
basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.
Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company
and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of Secretarial Audit, we
hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on 31st March, 2019 (“the audit
period”) complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and
compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:
We have examined the books, papers, minute books, forms and

returns filed and other records maintained by the Company during the audit period, according to the provisions of:
(i) The Companies Act, 2013 (“the Act”) and the rules made thereunder;
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder (Not applicable to the Company during the Audit
Period);
(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment,
External Commercial Borrowings and Overseas Direct Investment (External Commercial Borrowing and Overseas Direct Investment- Not
applicable to the Company during the Audit Period);
(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’): —
(a) The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015; (Not applicable to the
Company during the Audit Period)
(b) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; (Not applicable to the
Company during the Audit Period)
(c) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015; (Not applicable to the Company during the
Audit Period)
(d) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (Not applicable to the
Company during the Audit Period);
(e) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and
The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 notified on 28 October 2014; (Not applicable to
the Company during the Audit Period)
(f) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 (Not applicable to the Company
during the Audit Period);
(g) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies
Act and dealing with client (Not applicable to the Company during the Audit Period);
(h) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (Not applicable to the Company during the Audit
Period); and
(i) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 (Not applicable to the Company during the Audit
Period).
(vi) In our opinion and to the best of our information and according to the explanations given to us by the company, its officers, agents and
authorized representatives, we hereby report that there are no specific laws which are applicable to the Company.
We have also examined compliance with the applicable clauses of the following:
(i) Secretarial Standards 1 & 2 issued by The Institute of Company Secretaries of India.
63
(ii) The Listing Agreements entered into by the Company with Stock Exchanges (Not applicable to the Company during the Audit Period);
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc.
mentioned above.
We further report that;

The Board of Directors of the Company is duly constituted with proper balance of Executive Directors and Non-Executive Directors. The changes
in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of
the Act.
Adequate notice of at least seven days is given to all directors to schedule the Board Meetings, the agenda and detailed notes on agenda were
generally sent in advance and a system exists for seeking and obtaining further information and clarifications on the agenda items before the
meeting and for meaningful participation at the meeting.
All decisions at Board Meetings and Committee Meetings are carried out unanimously as recorded in the minutes of the meetings of the Board of
Directors or Committee of the Board, as the case may be.
We further report that there are adequate systems and processes in the Company commensurate with the size and operations of the company to
monitor and ensure compliance with applicable laws, rules, regulations and guidelines.
We further report that during the audit period, the Company has;
i. Invested in Nova Integrated Systems Limited (Wholly owned subsidiary), by subscribing to 50,00,000 equity shares of Rs. 10/- each
aggregating to Rs. 5,00,00,000/- (Rupees Five Crores Only);
ii. Acquired 11,50,00,000 equity shares of Rs.10/- each of Tal Manufacturing Solutions Limited from Tata Motors Limited for an aggregate
consideration of Rs. 625,00,00,000/- (Rupees Six Hundred and Twenty Five Crores Only) pursuant to the Share Purchase Agreement amongst
Tata Motors Limited, TAL Manufacturing Solutions Limited and the Company;
iii. Approved the acquisition of 14,16,31,180 equity shares and 1,52,00,000 redeemable preference shares of Tata Advanced Materials Limited
from Tata Industries Limited for an aggregate consideration of Rs. 8,12,00,00,000/- (Rupees Eight Hundred and Twelve Crores Only) pursuant to
the Share Purchase Agreement amongst Tata Advanced Materials Limited, Tata Industries Limited and the Company;
iv. Made an application with the National Company Law Tribunal for acquisition of Strategic Engineering Division of Tata Power Company
Limited pursuant to a scheme of slump sale between Tata Power Company Limited, their respective shareholders and creditors and the Company;
v. Made an application with the National Company Law Tribunal for acquisition of Defence Division of Tata Motors Limited pursuant to a
scheme of slump sale between Tata Motors Limited, their respective shareholders and creditors and the Company;
vi. Increased the Authorized Share Capital of the Company from the present Rs. 7,000,000,000/- (Rupees Seven Hundred Crores Only)
consisting of 700,000,000 (Seventy Crores) Equity Shares of Rs.10/- (Rupees Ten) each to Rs. 25,000,000,000/- (Rupees Two Thousand and Five
Hundred Crores Only) consisting of 2,500,000,000 (Two Hundred Fifty Crores) Equity Shares of Rs.10/- (Rupees Ten) each;
vii. Reappointed Mr. Sukaran Singh (DIN:01485745), as Managing Director and Chief Executive Officer of the Company for a period of 3
years with effect from 1st December, 2017 at the Extra ordinary General Meeting held on 13 July 2018;
viii. Appointed Mr. Banmali Agrawala (DIN: 00120029), Mr. Kesava Menon Chandrasekhar (DIN: 06466854), Mr. Vijay Singh (DIN:
06610802) and Mr. Norman Anil Kumar Browne (DIN: 08153434) as Directors of the Company at the Annual General Meeting held on 28th
August 2018; and
ix. Appointed Mr. Kaushik Biswas (ACS: 14240) as Whole-Time Company Secretary (KMP) of the Company with effect from 01st
December 2018 at the Board Meeting held on 12th October, 2018 pursuant to Section 203 (3) of the Act in place of Mr. S R Venkatesan who
retired with effect from 30th November 2018.
Note: This report is to be read with our letter of even date, which is annexed as “Annexure – A” and forms an integral part of this report

PI & Associates
R. Ramakrishna Gupta
Partner
FCS No.: 5523
C P No.: 6696
Office No. T 202, Technopolis,
1-10-74/B, Above Ratnadeep Super Market,
64
Chikoti Gardens, Begumpet, Hyderabad - 500 016.
Date: 9th May 2019

Place: Hyderabad
Annexure – A”
To,
The Members,
Hardware Park, Plot No 21, Sy No 1/1
Imarat Kancha, Raviryala Village, Maheshwaram Mandal,
Hyderabad – 501218, Telangana, India
Our report of even date is to be read along with this letter:
Maintenance of secretarial records is the responsibility of the management of Tata Advanced Systems Limited (“the Company”). Our
responsibility is to express an opinion on these secretarial records based on our audit.
1. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents
of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in secretarial records. We believe that
the processes and practices, we followed provide a reasonable basis for our opinion.
2. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the company.
3. Wherever required, we have obtained the Management representation about the compliance of laws, rules and regulations and happening of
events etc.
4. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of management.
Our examination was limited to the verification of procedures on test basis.
5. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness with which
the management has conducted the affairs of the company.
6. We have relied up on the information provided by the Management with respect to related party transactions for its compliance.
7. The Company has recorded in its minutes books of the Board, Committee and General Meetings, wherever applicable, that the transactions
with related parties under Section 188 are entered in its ordinary course of business and at arms’ length and accordingly we have relied on such
confirmation with respect to compliance of applicable provisions for the related party transactions executed during the year under review.

PI & Associates
R. Ramakrishna Gupta
Partner
FCS No.: 5523
C P No.: 6696
Office No. T 202, Technopolis,
65
1-10-74/B, Above Ratnadeep Super Market,

Chikoti Gardens, Begumpet, Hyderabad - 500 016.
Date: 9th May 2019

Place: Hyderabad
66
[110000] Balance sheet

31/03/2019 31/03/2018 31/03/2017
Balance sheet [Abstract]
Assets [Abstract]
Non-current assets [Abstract]
Property, plant and equipment 13,418 5,872
Capital work-in-progress 1,945 197
Investment property 0 0
Goodwill 0 0
Other intangible assets 1,592 1,242
Intangible assets under development 4,528 2,402
Biological assets other than bearer plants 0 0
Investments accounted for using equity method 0 0
Non-current financial assets [Abstract]
Non-current investments 93,110 39,275
Trade receivables, non-current 127 73
Loans, non-current 0 0
Other non-current financial assets 521 215
Total non-current financial assets 93,758 39,563
Deferred tax assets (net) 2,053 1,859
Other non-current assets (A) 17,845 (B) 4,289

Total non-current assets 1,35,139 55,424
Current assets [Abstract]
Inventories 15,428 24,630
Current financial assets [Abstract]
Current investments 0 0
Trade receivables, current 8,794 10,700
Cash and cash equivalents 761 2,826
Bank balance other than cash and cash equivalents 3 7,234
Loans, current 1,639 602
Other current financial assets 3,814 2,241
Total current financial assets 15,011 23,603
Current tax assets 218 82
Other current assets 5,319 4,915
Total current assets 35,976 53,230
Non-current assets classified as held for sale 0 0
Regulatory deferral account debit balances and related deferred tax
0 0
Assets
Total assets 1,71,115 1,08,654
Equity and liabilities [Abstract]
Equity [Abstract]
Equity attributable to owners of parent [Abstract]
Equity share capital 54,817.1157 54,817.1157 48,831.52
Other equity 60,798 4,701
Total equity attributable to owners of parent 1,15,615.12 59,518.12
Non controlling interest 0 0
Total equity 1,15,615.12 59,518.12
Liabilities [Abstract]
Non-current liabilities [Abstract]
Non-current financial liabilities [Abstract]
Borrowings, non-current 14,274 2,345
Trade payables, non-current 0 0
Other non-current financial liabilities 0 0
Total non-current financial liabilities 14,274 2,345
Provisions, non-current 1,558 1,163
Deferred tax liabilities (net) 0 0
Deferred government grants, Non-current 0 0
Other non-current liabilities (C) 10,438 (D) 10,510
67
Total non-current liabilities 26,270 14,018

Current liabilities [Abstract]
Current financial liabilities [Abstract]
Borrowings, current 9,860 9,147
Trade payables, current (E) 11,081.88 (F) 11,522.88

Other current financial liabilities 3,482 2,376
Total current financial liabilities 24,423.88 23,045.88
Other current liabilities 4,020 11,658
Provisions, current 783 414
Current tax liabilities (G) 3 0
Deferred government grants, Current 0 0
Total current liabilities 29,229.88 35,117.88
Total liabilities 55,499.88 49,135.88
Total equity and liabilities 1,71,115 1,08,654
Footnotes
(A)
Non current Tax assets (net) 704
Other non current assets 17141
TOTAL 17845
(B)
TOTAL 4289
(C)
Non current tax liabilities (net) 12
Other non current liabilities 10426
TOTAL 10438
(D)
TOTAL 10510
(E)
Trade payables
Outstanding dues of micro enterprises and small enterprises 244
Outstanding dues to creditors other than micro enterprises 10838
TOTAL 11082
(F)
Trade payables
Outstanding dues of micro enterprises and small enterprises 447
Outstanding dues to creditors other than micro enterprises 11076
TOTAL 11523
(G)
Provision for Income tax (net of taxes paid Rs. 275 lakhs (March 31, 2018: Nil) 3
68
[210000] Statement of profit and loss
Earnings per share [Table] ..(1)

Classes of equity share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Statement of profit and loss [Abstract]
Earnings per share [Abstract]
Earnings per share [Line items]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from
[INR/shares] 0.62 [INR/shares] 0.23 [INR/shares] 0.62 [INR/shares] 0.23
continuing operations
Basic earnings (loss) per share from
[INR/shares] 0 [INR/shares] 0
discontinued operations
Total basic earnings (loss) per share [INR/shares] 0.62 [INR/shares] 0.23 [INR/shares] 0.62 [INR/shares] 0.23
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from
[INR/shares] 0.62 [INR/shares] 0.23 [INR/shares] 0.62 [INR/shares] 0.23
continuing operations
Diluted earnings (loss) per share from
discontinued operations
Total diluted earnings (loss) per share [INR/shares] 0.62 [INR/shares] 0.23 [INR/shares] 0.62 [INR/shares] 0.23
69

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Statement of profit and loss [Abstract]
Income [Abstract]
Revenue from operations 51,104 36,896
Other income 1,566 5,390
Total income 52,670 42,286
Expenses [Abstract]
Cost of materials consumed (A) 29,036 (B) 17,322
Purchases of stock-in-trade (C) 1,646 (D) 1,786
Changes in inventories of finished goods, work-in-progress and
-2,945 -2,413
stock-in-trade
Employee benefit expense 11,279 9,992
Finance costs 989 519
Depreciation, depletion and amortisation expense 1,822 1,470
Expenditure on production, transportation and other expenditure
0 0
pertaining to exploration and production activities
Other expenses 11,107 8,538
Total expenses 52,934 37,214
Profit before exceptional items and tax -264 5,072
Exceptional items before tax 4,307 -5,106
Total profit before tax 4,043 -34
Tax expense [Abstract]
Current tax 484 65
Deferred tax 153 -1,293
Total tax expense 637 -1,228
Net movement in regulatory deferral account balances related to
0 0
profit or loss and the related deferred tax movement
Total profit (loss) for period from continuing operations 3,406 1,194
Profit (loss) from discontinued operations before tax 0 0
Tax expense of discontinued operations 0 0
Total profit (loss) from discontinued operations after tax 0 0
Total profit (loss) for period 3,406 1,194
Comprehensive income OCI components presented net of tax [Abstract]
Whether company has other comprehensive income OCI components
Yes Yes
presented net of tax
Other comprehensive income net of tax [Abstract]
Components of other comprehensive income that will not be
reclassified to profit or loss, net of tax [Abstract]
Other comprehensive income, net of tax, gains (losses) on
2 159
remeasurements of defined benefit plans
Other comprehensive income that will not be reclassified to
0 -55
profit or loss, net of tax, others
Total other comprehensive income that will not be reclassified
2 104
to profit or loss, net of tax
Other comprehensive income that will be reclassified to profit
0 0
or loss, net of tax, others
Total other comprehensive income that will be reclassified to
0 0
profit or loss, net of tax
Total other comprehensive income 2 104
Total comprehensive income 3,408 1,298
Comprehensive income OCI components presented before tax [Abstract]
Whether company has comprehensive income OCI components presented
No No
before tax
Other comprehensive income before tax [Abstract]
Total other comprehensive income 2 104
Earnings per share explanatory [TextBlock] [See below]
Earnings per share [Abstract]
Basic earnings (loss) per share from continuing operations [INR/shares] 0.62 [INR/shares] 0.23
Total basic earnings (loss) per share [INR/shares] 0.62 [INR/shares] 0.23
70
Diluted earnings (loss) per share from continuing operations [INR/shares] 0.62 [INR/shares] 0.23
Total diluted earnings (loss) per share [INR/shares] 0.62 [INR/shares] 0.23
Footnotes
(A)
Direct materials 26407
Indirect materials 551
Others 2078
TOTAL 29036
(B)
Direct materials 16234
Indirect materials 468
Others 620
TOTAL 17322
(C) Purchase of equipments for homeland security solutions 1646
(D) Purchase of equipments for homeland security solutions 1786
Earnings per share explanatory [Text Block]
Note 42: Earnings per share
For the year ended

For the year ended
Particulars March 31, 2018
March 31, 2019
(refer note:53)
Profit for the year ended 3,406 1,194
Weighted average number of equity shares (Nos.)* 55,20,36,849 52,14,40,963
Par value per share (Rs.) 10 10
Basic Earning Per Equity Share (Rs.) (not annualised) 0.62 0.23
*(included Share application pending allotment)
71
[210000a] Statement of profit and loss
Other comprehensive income that will not be reclassified to profit or loss, net of tax, others [Table] ..(1)
Other comprehensive income that will not be reclassified to profit or loss, net of tax, others [Axis] 1
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Other comprehensive income that will not be reclassified to profit or loss, net of tax,
others [Abstract]
others [Line items]
Income tax relating Income tax relating to
Description of other comprehensive income that will not be reclassified to profit to items that will not items that will not be
or loss, net of tax, others be reclassified to reclassified to profit
profit or loss or loss
0 -55
others
[400200] Statement of changes in equity
Statement of changes in equity [Table] ..(1)

Equity attributable
to the equity
Components of equity [Axis] Equity [Member]
holders of the
parent [Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 3,406 1,194 3,406
Changes in comprehensive income components 2 104 2
Total comprehensive income 3,408 1,298 3,408
Other changes in equity [Abstract]
Other additions to reserves 0 1,822 0
Deductions to reserves [Abstract]
Other deductions to reserves 646 0 646
Total deductions to reserves 646 0 646
Other changes in equity, others 53,335 0 53,335
Total other changes in equity 52,689 1,822 52,689
Total increase (decrease) in equity 56,097 3,120 56,097
Other equity at end of period 60,798 4,701 1,581 60,798
72

Equity attributable to the equity holders Share application money pending
Components of equity [Axis]
of the parent [Member] allotment [Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
Equity [Abstract]
Profit (loss) for period 1,194 0 0
Total comprehensive income 1,298 0 0
Other additions to reserves 1,822 0 0
Other changes in equity, others 0 (A) 53,335 0
Total other changes in equity 1,822 53,335 0
Total increase (decrease) in equity 3,120 53,335 0
Other equity at end of period 4,701 1,581 53,335 0
(A)
"(II) Share Application money pending allotment
(470,325,873 Equity Shares @ Rs. 11.34)"

Share application
money pending
Components of equity [Axis] Reserves [Member]
allotment
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
Equity [Abstract]
Profit (loss) for period 3,406 1,194
Changes in comprehensive income components 2 104
Other additions to reserves 0 1,822
Other deductions to reserves 646 0
Total deductions to reserves 646 0
Other changes in equity, others 0 0
Total other changes in equity -646 1,822
Total increase (decrease) in equity 2,762 3,120
Other equity at end of period 0 7,463 4,701 1,581
73

Retained earnings
Components of equity [Axis] Securities premium reserve [Member]
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
Equity [Abstract]
Profit (loss) for period 0 0 3,406
Total comprehensive income 0 0 3,408
Other additions to reserves 0 138 0
Other changes in equity, others 0 0 0
Total other changes in equity 0 138 -646
Total increase (decrease) in equity 0 138 2,762
Other equity at end of period 138 (A) 138 0 7,325
Footnotes
(A)
i) Securities premium represents the amount received in excess of the face value of the equity shares issued by the
company, the utilisation of securities premium governed by Companies Act 2013.

Components of equity [Axis] Retained earnings [Member] Other retained earning [Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
Equity [Abstract]
Profit (loss) for period 1,194 3,406 1,194
Changes in comprehensive income components 104 (B) 2 (C) 104
Total comprehensive income 1,298 3,408 1,298
Other additions to reserves 1,684 0 (D) 1,684
Other changes in equity, others 0 0 0
Total other changes in equity 1,684 -646 1,684
Total increase (decrease) in equity 2,982 2,762 2,982
Other equity at end of period 4,563 1,581 7,325 (A) 4,563
74
Footnotes
(A)
ii) Retained earnings represents the Company's undistributed earnings after taxes.
(B)
iii) It represents the actuarial gain/(loss) recognised on the post employment defined benefit plan and the same will not
be transferred to retained earnings.
(C)
iii) It represents the actuarial gain/(loss) recognised on the post employment defined benefit plan and the same will not
be transferred to retained earnings.
(D) Add: Effect of common control business combinations (Refer note: 53)

Other retained
Components of equity [Axis]
earning [Member]
31/03/2017
Equity [Abstract]
Other equity at end of period 1,581

01/04/2018
to
31/03/2019
Disclosure of notes on changes in equity [TextBlock] [See below]
75
Disclosure of notes on changes in equity [Text Block]
a. Equity share capital
Number of
Amount
shares
Balance as at April 1, 2017 488315200 48831.52
Add: Equity shares allotted during the year 59855957 5985.5957
Balance as at March 31, 2018 548171157 54817.1157
Add: Equity shares allotted during the year 0 0
Balance as at March 31, 2019 548171157 54817.1157
b. Other equity
Share application
Reserves
money pending Total
and surplus
allotment
Retained Securities
earnings premium
Balance as at April 1, 2017 1581 0 0 1581
Effect of common control business combinations (refer note: 53) 1684 0 0 1684
Profit for the year 1194 0 0 1194
On issue of equity shares 0 138 0 138
Re-measurement of defined benefit plans (net of tax) 104 0 0 104
Balance as at March 31, 2018 4563 138 0 4701
Reduction in retained earnings on transition to Ind AS 115 - Revenue

-646 0 0 -646
from Contracts with Customers (net of tax) (refer note: 51)
Profit for the year 3406 0 0 3406
Share application money pending allotment 0 0 53335 53335
Re-measurement of defined benefit plans (net of tax) 2 0 0 2
Balance as at March 31, 2019 7325 138 53335 60798
See accompanying notes forming part of these Standalone Financial

Statements
76
77
[320000] Cash flow statement, indirect

01/04/2018 01/04/2017
to to 31/03/2017
31/03/2019 31/03/2018
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before tax 4,043 -34
Adjustments for reconcile profit (loss) [Abstract]
Adjustments for finance costs 989 519
Adjustments for decrease (increase) in inventories -2,535 -2,549
Adjustments for decrease (increase) in trade receivables, current 1,743 -1,653
Adjustments for decrease (increase) in other non-current assets 1,012 -18
Adjustments for other financial assets, non-current -1,901 -727
Adjustments for increase (decrease) in trade payables, non-current 1,323 2,816
Adjustments for increase (decrease) in other current liabilities -7,710 2,521
Adjustments for increase (decrease) in other non-current liabilities -124 -74
Adjustments for depreciation and amortisation expense 1,822 1,470
Adjustments for provisions, non-current 274 -81
Adjustments for other financial liabilities, non-current -4 9
Adjustments for unrealised foreign exchange losses gains -434 251
Adjustments for dividend income 0 4,022
Adjustments for interest income 278 329
Adjustments for fair value losses (gains) 7 -41
Other adjustments to reconcile profit (loss) 124 1,061
Other adjustments for non-cash items (A) -3,246 (B) 3,399

Total adjustments for reconcile profit (loss) -8,938 2,552
Net cash flows from (used in) operations -4,895 2,518
Income taxes paid (refund) 566 475
Net cash flows from (used in) operating activities -5,461 2,043
Cash flows from used in investing activities [Abstract]
Cash flows used in obtaining control of subsidiaries or other businesses (C) 53,835 (D) 1,000
Other cash receipts from sales of equity or debt instruments of other
0 32
entities
Proceeds from sales of property, plant and equipment 9 0
Purchase of property, plant and equipment 14,737 4,959
Cash advances and loans made to other parties (E) 1,037 (F) 65
Dividends received 0 4,022
Interest received 295 214
Other inflows (outflows) of cash 7,229 -5,124
Net cash flows from (used in) investing activities -62,076 -6,880
Cash flows from used in financing activities [Abstract]
Proceeds from changes in ownership interests in subsidiaries (G) 53,335
0
Proceeds from issuing shares 0 6,123

Proceeds from borrowings 14,000 -1,452
Repayments of borrowings 1,911 0
Interest paid 945 512
Other inflows (outflows) of cash (H) 950 (I) 1,677

Net cash flows from (used in) financing activities 65,429 5,836
Net increase (decrease) in cash and cash equivalents before effect of
-2,108 999
exchange rate changes
Effect of exchange rate changes on cash and cash equivalents [Abstract]
Effect of exchange rate changes on cash and cash equivalents 43 38
Net increase (decrease) in cash and cash equivalents -2,065 1,037
Cash and cash equivalents cash flow statement at end of period 761 2,826
(J) 1,789
78
Footnotes
(A)
Exceptional items (to the exten of non cash or non operating) -3811
Allowance for doubtful debts 23
Provision for warranties 144
Provision for liquidated damages 86
Provision for customer claims 11
Provision for onerous contracts 251
Amortization of prepaid lease rent 50
TOTAL -3246
(B)
Exceptional items (to the exten of non cash or non operating) 3174
Provision for warranties 80
Amortization of prepaid lease rent 27
TOTAL 3399
(C) Investment in Subsidiary -53835
(D) Investment in Subsidiary -1000
(E) Loans given to related parties -1037
(F) Loans given to related parties - 65
(G)
Receipt of share application money pending allotment 53335
(H) Net increase in working capital 950
(I) Net increase in working capital 1677
(J)
Cash and cash equivalents at the beginning of the year 1334
Add: Cash and cash eq acquired on Amalgamation 455
TOTAL 1789
[610100] Notes - List of accounting policies

01/04/2018
to
31/03/2019
Disclosure of significant accounting policies [TextBlock] [See below]
Description of accounting policy for measuring inventories [TextBlock] [See below]
79
Disclosure of significant accounting policies [Text Block]
2 Significant accounting policies
2.1 Statement of Compliance
These standalone financial statements which comprise the Balance Sheet, Statement of Profit and Loss,
Statement of Cash flows and Statement of Changes in Equity ("financial statements") have been prepared in
accordance with Indian Accounting Standards (Ind AS) notified under the Section 133 of the Companies Act,
2013 (“the Act”), Companies (Indian Accounting Standards) Rules, 2015 and relevant amendments rules issued
thereafter. Except for the changes below, the Company has consistently applied accounting policies to all periods.
The Company has adopted Ind AS 115 'Revenue from Contracts with Customers' with the date of initial
application being April 1, 2018 . Ind AS 115 establishes a comprehensive framework on revenue recognition. Ind
AS 115 replaces Ind AS 18 Revenue and Ind AS 11 Construction Contracts. The Company has applied modified
retrospective approach, accordingly, the transition adjustment has been accounted in the opening retained
earnings (refer note no.51).
Appendix B to Ind AS 21 'The Effects of Changes in Foreign Exchange Rates': On March 28, 2018, Ministry of
Corporate Affairs ("MCA") has notified the Companies (Indian Accounting Standards) Amendment Rules, 2018
containing Appendix B to Ind AS 21, Foreign currency transactions and advance consideration which clarifies the
date of the transaction for the purpose of determining the exchange rate to use on initial recognition of the related
asset, expense or income, when an entity has received or paid advance consideration in a foreign currency. The
amendment is effective from April 1, 2018.
2.2 Basis of preperation and presentation
These financial statements have been prepared on the historical cost basis, except for certain financial
instruments which are measured at fair values at the end of each reporting period. Historical cost is generally
based on the fair value of the consideration given in exchange for goods and services. Fair value is the price that
would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date, regardless of whether that price is directly observable or estimated using
another valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account
the characteristics of the asset or liability if market participants would take those characteristics into account when
pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in
these financial statements is determined on such a basis, except for share-based payment transactions that are
within the scope of Ind AS 102, leasing transactions that are within the scope of Ind AS 17, and measurements
that have some similarities to fair value but are not fair value, such as net realizable value in Ind AS 2 or value in
use in Ind AS 36.
In addition, for financial reporting purposes, fair value measurement are categorised into level 1, 2 or 3 based on
the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to
the fair value measurement in its entirety, which are described as under:
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can
access at the measurement date.
Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or
liability, either directly or indirectly; and
Level 3 inputs are unobservable for the asset or liability.
80
2.3 Summary of significant accounting policies
2.3.1 Revenue recognition
Sale of products and Services
Effective April 1, 2018, the Company has adopted Ind AS 115 “Revenue from Contracts with Customers”. The
impact of adoption of Ind AS 115 has disclosed in note no.51.
Revenue is recognized upon on transfer of promised goods or services to customers in an amount that reflects
the consideration the Company expects to receive in exchange for those goods or services. Revenue is reduced
for estimated customer returns, rebates and other similar allowances, taxes or duties collected on behalf of the
government. An entity shall recognize revenue when the entity satisfies a performance obligation by transferring a
promised goods or services (i.e. an asset) to a customer. As asset is transferred when the customer obtains
control of that asset.
For performance obligations where control is transferred over time, revenues are recognised by measuring
progress towards completion of performance obligation. The selection of method to measure progress towards
completion require judgement and is based on the nature of the promised goods or services to be provided.
The Company has recognised revenue with respect to cost incurred for certain contracts where revenue is
recognised over time and has enforceable right to receive the consideration to the extent of the work performed.
Advance payments received from customers for which no goods or services transferred or rendered are
presented as ‘Advance from customers'.
Export benefits
Export benefits are recognized on accrual basis when there is reasonable certainty of realization of such
benefits/incentives.
2.3.2 Other income
Dividend income from investments is recognised in the year in which the right to receive the payment is
a)
established.
Interest income from the financial asset is recognised when it is probable that the economic benefits will flow to
the Company and can be measured reliably. Interest income is recognised on a time proportion basis taking into
b) account the amount outstanding and at the effective interest rate applicable, which is the rate exactly discounts
estimated future cash receipts through the expected life of the financial assets to that asset's net carrying amount
on initial recognition.
2.3.3 Leasing
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and
rewards of ownership to the lessee. All other leases are classified as operating leases.
The Company's significant leasing arrangements are in respect of operating leases for premises that are
cancellable in nature. The lease rentals under such agreements are recognised in the Statement of Profit and
Loss as per the terms of the lease. Rental expense from operating leases is generally recognised on a
straight-line basis over the term of the relevant lease. Where the rentals are structured solely to increase in line
with expected general inflation to compensate for the lessor’s expected inflationary cost increases, such increases
are recognised in the year in which such benefits accrue.
81
2.3.4 Functional and presentation currency
Functional and presentation currency items included in the Financial Statements of the Company are measured
using the currency of the primary economic environment in which these entities operate (i.e. the “functional
currency”). The Financial Statements are presented in Indian Rupee (Rs.), the national currency of India, which is
the functional currency of the Company.
2.3.5 Foreign currency
Foreign currency transactions are recorded at exchange rates prevailing on the date of the transaction or at rates
that closely approximate the rate at the date of transactions. The date of transaction for the purpose of
determining the exchange rate on initial recognition of the related asset, expense or income (part of it) is the date
on which the entity initially recognises the non-monetary asset or non-monetary liability arising from payment or
receipt of advance consideration. Foreign currency denominated monetary assets and liabilities are restated into
the functional currency using exchange rates prevailing on the balance sheet date. Gains and losses arising on
settlement and restatement of foreign currency denominated monetary assets and liabilities are recognised in the
statement of profit and loss. Non-monetary assets and liabilities that are measured in terms of historical cost in
foreign currencies are not translated.
2.3.6 Borrowing cost
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are
assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to
the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.
Interest income earned on the temporary investments of specific borrowings pending their expenditure on
qualifying assets deducted from the borrowings costs eligible for capitalisation. All other borrowing costs are
recognised in the statement of profit and loss in the period in which they are incurred.
2.3.7 Dividend distribution
Dividend paid (including income tax there on) is recognised in the period in which the interim dividends are
approved by the Board of Directors, or in respect of the final dividend when approved by the Shareholders.
2.3.8 Employee benefits
(a) Defined Contribution Plans
Contribution paid/ payable to defined contribution plans comprises provident fund for certain employees covered
under the scheme are recognised in the profit or loss each year when employees have rendered services entitling
them to the contributions.
(b) Defined Benefit Plans
The Company’s Gratuity Scheme for its employees is a defined benefit retirement plan. Obligation under the
gratuity scheme is covered under a Scheme of Life Insurance Corporation of India (LIC) and contributions in
respect of such scheme are recognized in the profit or loss. The cost of providing benefits is determined using the
projected unit credit method, with actuarial valuations being carried out at the end of the period.
Defined benefit costs are categorised as follows:
- service cost (including current service cost, past service cost, as well as gains and losses on curtailments and
settlements);
- net interest expense or income; and
82
- remeasurement
The Company presents the first two components of defined benefit costs in profit or loss in the line item
‘Employee benefits expense’. Curtailment gains and losses are accounted for as past service costs. Net interest
is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or
asset.
Remeasurement, comprising actuarial gain and losses, the effect of the changes to the asset celling (is
applicable) and the return on plan assets (excluding net interest), is reflected immediately in the balance sheet
with a charge or credit recognised in the comprehensive income in the period in which they occur.
Re-measurement recognised in other comprehensive income is reflected immediately in retained earnings and is
not reclassified to profit or loss.
(c) Short-Term Employee Benefits
The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services
rendered by employees are recognised during the year when the employees render the service. These benefits
include performance incentive and compensated absences which are expected to occur within twelve months
after the end of the period in which the employee renders the related service. The cost of such compensated
absences is accounted as under:
in case of accumulated compensated absences, when employees render the services that increase their
entitlement of future compensated absences; and
in case of non-accumulating compensated absences, when the absences occur.
(d) Long-term employee benefits
Compensated absences which are not expected to occur within twelve months after the end of the period in which
the employee renders the related services are recognised as an actuarially determined liability at the present
value of the obligation at the balance sheet date.
2.3.9 Earning per share
The Company presents basic and diluted earnings per share (“EPS”) for its equity shares. Basic EPS is
calculated by dividing the profit or loss attributable to equity shareholders by the weighted average number of
equity shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable
to equity shareholders and the weighted average number of equity shares outstanding for the effects of all dilutive
potential equity shares.
2.3.10 Taxation
Income tax expense represent the sum of the current tax and deferred tax.
Current tax
Current tax is determined as the amount of tax payable in respect of taxable income for the year as determined in
accordance with the applicable tax rates and the provisions of Income tax Act, 1961.
Deferred tax
Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the
Financial Statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax
liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally
recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be
available against which those deductible temporary differences can be utilized. Such deferred tax assets and
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liabilities are not recognized if the temporary differences arise from the initial recognition (other than in a business
combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting
profit.
The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to
be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the
period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been
enacted or substantively enacted by the end of the reporting period.
Deferred tax assets include Minimum Alternate Tax (“MAT”) paid in accordance with the tax laws in India, which
gives future economic benefits in the form of availability of set off against future income tax liability. Accordingly,
MAT is recognized as deferred tax asset in the Balance sheet when the asset can be measured reliably and it is
probable that the future economic benefits associated with the asset will be realized.
Current tax and deferred tax for the year
Current and deferred tax are recognised in profit or loss, except when they relate to items that are recognised in
other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised
in other comprehensive income or directly in equity, respectively.
2.3.11 Property, plant and equipment
Property, plant and equipment are stated at cost, less accumulated depreciation and impairment loss, if any. Cost
includes purchase price, attributable expenditure incurred in bringing the asset to its working condition for the
intended use and cost of borrowing till the date of capitalisation in the case of assets involving material investment
and substantial lead time.
Properties in the course of construction for production, supply or administrative purposes are carried at cost, less
any recognised impairment loss. Depreciation of these assets, on the same basis as other property assets,
commences when the assets are ready for their intended use.
Depreciation is provided on the straight-line method as per the useful life mentioned in the below table. The
estimated useful lives and residual values are reviewed at the end of each reporting period, with the effect of any
changes in estimate accounted for on a prospective basis. Depreciation is not recorded on capital
work-in-progress until construction and installation are complete and the asset is ready for its intended use. Land
is not depreciated. Assets costing Rs. 5,000 and below are depreciated in the year of acquisition.
The estimated useful lives are as mentioned below:
Useful
Type of asset lives
(Years)
(A) Tangible assets:
a) Plant & Equipment (Excluding Electrical Installations and

8 - 12
Tools & Test sets)
b) Plant & Equipment - Tools & Test sets 3
c) Plant & Equipment - Electrical Installations 10
d) Office Equipments 5
e) Furniture & Fixture 5
f) Vehicles 4
g) Computers 3
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h) Buildings - (Excluding Roads & Others) 30
i) Buildings - Roads & Others 10
Period
j) Leasehold Improvements of
lease
The useful life is assessed based on technical advice taking into account the nature of the asset, the estimated
usage of the asset, the operation condition of the asset, past history of replacement, maintenance support etc.
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are
expected to arise from the continued use of the asset. Any gain or loss arising on de-recognition of the asset
(calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included
in the profit & loss in the period in which the item is derecognised.
2.3.12 Intangible assets
Software costs and Technical know-how are included in the balance sheet as intangible assets where they are
clearly linked to long term economic benefits for the Company. Intangible assets with finite useful lives that are
acquired separately are carried at cost, net of accumulated amortisation and impairment losses, if any. Cost of an
intangible asset comprises purchase price and attributable expenditure on making the asset ready for its intended
use. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life
and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in
estimate being accounted for on a prospective basis. Assets costing Rs. 5,000 and below are depreciated over a
period of one year.
Internally-generated intangible assets
Expenditure on research activities is recognised as an expense in the period in which it is incurred.
An internally – generated intangible asset arising from development (or from the development phase of an internal
project, new designs, prototypes and technical know-how) is recognized if, and only if, all of the following have
been demonstrated:
The technical feasibility of completing the intangible asset so that it will be available for use or sale;
The intention to complete the intangible asset and use or sell it
The ability to use or sell the intangible asset;
How the intangible asset will generate probable future economic benefits;
The availability of adequate technical, financial and other resources to complete the development and to use or
sell the intangible asset; and
The ability to measure reliably the expenditure attributable to the intangible asset during its development.
The amount initially recognized for internally-generated intangible assets is the sum of the expenditure incurred
from the date when the intangible asset first meets the recognition criteria listed above. Where no
internally–generated intangible asset can be recognized, development expenditure is recognized in profit or loss
in the period in which it is incurred.
The costs capitalized include the cost of materials, direct labour and directly attributable overhead expenditure
from the date when the intangible asset first meets the recognition criteria incurred up to the date the asset is
available for use.
Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated
amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired
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separately.
Useful
Type of asset lives
(Years)
Computer Software 3
Technical know-how / Product development 5
An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or
disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between
the net disposal proceeds and the carrying amount of the asset, are recognised in statement of profit or loss when
the asset is derecognised.
Intangible assets under development
Intangible assets under development represent costs incurred towards development of Internally-generated
intangible assets (such as new Designs, Prototypes and Technical know-how), which are not completed as at the
Balance Sheet date.
Impairment of tangible and intangible assets
The Company assesses at each reporting date whether there is an indication that an asset/cash generating unit
may be impaired. If any indication exists, the Company estimates the recoverable amount of such assets and if
carrying amount exceeds the recoverable amount, impairment is recognised. The recoverable amount is the
higher of the net selling price and its value in use. In assessing value in use, the estimated future cash flows are
discounted to their present value using an appropriate discount factor. When there is indication that previously
recognised impairment loss no longer exists or may have decreased such reversal of impairment loss is
recognised in the profit t or loss.
2.3.13 Inventories
Stores, tools, spares and consumables are valued at or below cost. Inventories are valued at lower of cost and
net realisable value after providing for obsolescence and other losses, where considered necessary. The cost of
inventories comprises cost of raw materials and components, and other costs incurred in bringing the inventories
to their present location and condition. The method of determining cost of various categories of inventories are as
follows:
a) Raw materials - Weighted average method
b) Work-in-progress and finished goods - Weighted average method including appropriate share of overheads.
c) Stores, tools, spares and consumables - Weighted average method
2.3.14 Exceptional item
Significant gains / losses or expenses incurred arising from external events that is not expected to recur are
disclosed as Exceptional item.
2.3.15 Provisions, Contingent liabilities and contingent assets
Provisions are recognised only when there is a present obligation as a result of past events and when a
reasonable estimate of the amount of obligation can be made. The amount recognised as a provision is the best
estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into
account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash
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flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when
the effect of the time value of money is material).
Contingent liabilities are disclosed for (i) possible obligation which will be confirmed only by future events not
wholly within the control of the Company or (ii) present obligations arising from past events where it is not
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probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount
of the obligation cannot be made. Contingent assets are neither recognised nor disclosed in the Financial
Statements.
2.3.16 Segment accounting
The Company identifies primary segments based on the dominant source, nature of risks and returns and the
internal organisation and management structure. The operating segments are the segments for which separate
financial information is available and for which operating profit/loss amount are evaluated regularly by the chief
operating decision maker in deciding how to allocate resources and in assessing performance.
The accounting policies adoptedfor segment reporting are in line with the accounting policies of the Company.
Segment revenue, Segment expenses, segment assets and segment liabilities have been identified to segments
on the basis of their relationship to the operating activities of the segment.
Inter- Segment revenue is accounted on the basis of transactions which are primarily determined based on
market /fair value factors.
Revenue, expenses, assets and liabilities which relate to the company as a whole and are not allocable to
segments on reasonable basis have been included under unallocated revenue/expense/assets/ liabilities.
2.3.17 Financial instruments
Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual
provisions of the instrument.
Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and
financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial
assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the
acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately
in Statement of profit or loss.
For the purposes of subsequent measurement, financial instruments of the Company are classified in the
following categories: non-derivative financial assets comprising amortised cost, debt instruments at fair value
through other Comprehensive Income (FVTOCI), equity instruments at FVTOCI or fair value through profit and
loss account (FVTPL), non-derivative financial liabilities at amortised cost or FVTPL and derivative financial
instruments (under the category of financial assets or financial liabilities) at FVTPL.
The classification of financial instruments depends on the objective of the business model for which it is held.
Management determines the classification of its financial instruments at initial recognition.
A) Financial assets
Recognition and initial measurement
The Company initially recognises loans and advances, deposits, debt securities issues and subordinated liabilities
on the date on which they originate. All other financial instruments (including regular way purchases and sales of
financial assets) are recognised on the trade date, which is the date on which the Company becomes a party to
the contractual provisions of the instrument.
Subsequent measurement of the financial assets
(i) Financial assets carried at amortised cost
A financial asset is subsequently measured at amortised cost if it is held within a business model whose objective
is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding.
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(ii) Financial assets at fair value through other comprehensive income (FVTOCI)
A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a
business model whose objective is achieved by both collecting contractual cash flows and selling financial assets
and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments
of principal and interest on the principal amount outstanding. Further, in case where the company has made an
irrevocable selection based on its business model, for its investments which are classified as equity instruments,
the subsequent changes in fair value are recognized in other comprehensive income.
(iii) Financial assets at fair value through profit or loss (FVTPL)
A financial asset which is not classified in any of the above categories are subsequently fair valued through profit
or loss. The transaction costs directly attributable to the acquisition of financial assets and financial liabilities at
fair value through profit and loss are immediately recognized in the Statement of profit or loss.
(iv) Effective Interest Method
The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating
interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated
future cash receipts (including all fees and points paid or received that form an integral part of the effective
interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument,
or where appropriate, a shorter period, to the gross carrying amount on initial recognition.
Income is recognised on an effective interest basis for debt instruments other than those financial assets
classified as at FVTPL. Interest income is recognised in profit or loss and is included in the “Other Income” line
item.
(v) Impairment of Financial assets
The Company applies the expected credit loss (ECL) model for recognising the impairment loss on financial
assets measured at amortised cost and FVTOCI but are not fair valued through profit and loss. Loss allowance for
trade receivables with no significant financing component is measured at an amount equal to lifetime ECL. For all
other financial assets, ECLs are measured at an amount equal to the 12-month ECL, unless there has been a
significant increase in credit risk from initial recognition, in which case those are measured at lifetime ECL. The
amount of ECLs (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that
is required to be recognized is recognized as an impairment gain or loss in the Statement of Profit or Loss.
(vi) Derecognition of Financial assets
The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expire,
or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to
another party. If the Company neither transfers nor retains substantially all the risks and rewards of ownership
and continues to control the transferred asset, the Company recognises its retained interest in the asset and an
associated liability for amounts it may have to pay. If the Company retains substantially all the risks and rewards
of ownership of a transferred financial asset, the Company continues to recognise the financial asset and also
recognises a collateralised borrowing for the proceeds received.
On derecognition of a financial asset in its entirety, the difference between the asset's carrying amount and the
sum of the consideration received and receivable and the cumulative gain or loss that had been recognised in
other comprehensive income and accumulated in equity is recognised in profit or loss if such gain or loss would
have otherwise been recognised in profit or loss on disposal of that financial asset.
On derecognition of a financial asset other than in its entirety (e.g. when the Company retains an option to
repurchase part of a transferred asset), the Company allocates the previous carrying amount of the financial asset
between the part it continues to recognise under continuing involvement, and the part it no longer recognises on
the basis of the relative fair values of those parts on the date of the transfer. The difference between the carrying
amount allocated to the part that is no longer recognised and the sum of the consideration received for the part no
longer recognised and any cumulative gain or loss allocated to it that had been recognised in other
comprehensive income is recognised in profit or loss if such gain or loss would have otherwise been recognised
in profit or loss on disposal of that financial asset. A cumulative gain or loss that had been recognised in other
comprehensive income is allocated between the part that continues to be recognised and the part that is no
longer recognised on the basis of the relative fair values of those parts.
(vii) Foreign exchange gains and losses:
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The fair value of financial assets denominated in a foreign currency is determined in that foreign currency and
translated at the spot rate at the end of each reporting period.
For foreign currency denominated financial assets measured at amortised cost and FVTPL, the exchange
differences are recognised in profit or loss except for those which are designated as hedging instruments in a
hedging relationship.
B) Financial liabilities and equity instruments
(i) Classification as debt or equity
Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in
accordance with the substance of the Contractual arrangements and the definitions of a financial liability and an
equity instrument.
(ii) Equity Instruments
An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all
of its liabilities. Equity instruments issued by the Company are recognised at the proceeds received, net of direct
issue costs.
(iii) Financial liabilities
All financial liabilities are subsequently measured at amortised cost using the effective interest method or at
FVTPL.
However, financial liabilities that arise when a transfer of a financial asset does not qualify for derecognition or
when the continuing involvement approach applies, financial guarantee contracts issued by the Company, and
commitments issued by the Company to provide a loan at below-market interest rate are measured in accordance
with the specific accounting policies set out below.
(iv) Financial liabilities at FVTPL
Financial liabilities are classified as at FVTPL, when the financial liability is either contingent consideration
recognised by the Company as an acquirer in a business combination to which Ind AS 103 applies or is held for
trading or it is designated as at FVTPL.
A financial liability is classified as held for trading if:
it has been incurred principally for the purpose of repurchasing it in the near term; or
on initial recognition it is part of a portfolio of identified financial instruments that the Company manages together
and has a recent actual pattern of short-term profit-taking; or
it is a derivative that is not designated and effective as a hedging instrument.
A financial liability other than a financial liability held for trading or contingent consideration recognised by the
Company as an acquirer in a business combination to which Ind AS 103 applies, may be designated as at FVTPL
upon initial recognition if:
such designation eliminates or significantly reduces a measurement or recognition inconsistency that would
otherwise arise;
the financial liability forms part of a group of financial assets or financial liabilities or both, which is managed and
its performance is evaluated on a fair value basis, in accordance with the Company's documented risk
management or investment strategy, and information about the group is provided internally on that basis; or
it forms part of a contract containing one or more embedded derivatives, and Ind AS 109 permits the entire
combined contract to be designated as at FVTPL in accordance with IND AS 109
Financial liabilities at FVTPL are stated at fair value, with any gains or losses arising on remeasurement
recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any interest paid on the
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financial liability and is included in the 'Other income' line item.
However, for non-held-for-trading financial liabilities that are designated as at FVTPL, the amount of change in the
fair value of the financial liability that is attributable to changes in the credit risk of that liability is recognised in
other comprehensive income, unless the recognition of the effects of changes in the liability's credit risk in other
comprehensive income would create or enlarge an accounting mismatch in profit or loss, in which case these
effects of changes in credit risk are recognised in profit or loss. The remaining amount of change in the fair value
of liability is always recognised in profit or loss. Changes in fair value attributable to a financial liability's credit risk
that are recognised in other comprehensive income are reflected immediately in retained earnings and are not
subsequently reclassified to profit or loss. Gains or losses on financial guarantee contracts and loan commitments
issued by the Company that are designated by the Company as at fair value through profit or loss are recognised
in profit or loss.
(iv) Financial liabilities subsequently measured at amortized cost:
Financial liabilities that are not held-for-trading and are not designated as at FVTPL are measured at amortized
cost at the end of subsequent accounting periods. The carrying amounts of financial liabilities that are
subsequently measured at amortized cost are determined based on the effective interest method. Interest
expense that is not capitalized as part of costs of an asset is included in the 'Finance costs' line item.
The effective interest method is a method of calculating the amortized cost of financial liability and of allocating
interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated
future cash payments (including all fees and points paid or received that form an integral part of the effective
interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability,
or (where appropriate) a shorter period, to the net carrying amount on initial recognition.
(v) Other financial liabilities
Other financial liabilities (including borrowings and trade and other payables) are subsequently measured at
amortised cost using the effective interest method.
(vi) Foreign exchange gains and losses
For financial liabilities that are denominated in a foreign currency and are measured at amortised cost at the end
of each reporting period, the foreign exchange gains and losses are determined based on the amortised cost of
the instruments and are recognised in 'Other income'.
The fair value of financial liabilities denominated in a foreign currency is determined in that foreign currency and
translated at the spot rate at the end of the reporting period. For financial liabilities that are measured as at
FVTPL, the foreign exchange component forms part of the fair value gains or losses and is recognised in profit or
loss.
(vii) Derecognition of financial liabilities
The Company derecognises financial liabilities when, and only when, the Company's obligations are discharged,
cancelled or have expired. An exchange between a lender of debt instruments with substantially different terms is
accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability.
Similarly, a substantial modification of the terms of an existing financial liability (whether or not attributable to the
financial difficulty of the debtor) is accounted for as an extinguishment of the original financial liability and the
recognition of a new financial liability. The difference between the carrying amount of the financial liability
derecognised and the consideration paid and payable is recognised in profit or loss.
2.3.18 Derivative financial instruments
The Company enters into a variety of derivative financial instruments to manage its exposure to interest rate and
foreign exchange rate risks, including foreign exchange forward contracts, option contracts and interest rate
swaps.
Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are
subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is
recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument,
in which event the timing of the recognition in profit or loss depends on the nature of the hedging relationship and
the nature of the hedged items.
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow
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hedges are recorded in other comprehensive income net of applicable deferred income taxes. The gain or loss
relating to the ineffective portion is recognized immediately in the statement of profit and loss. The cumulative
gain or loss previously recognized in other comprehensive income remains there until the forecast transaction
occurs. When the hedged item is a non-financial asset, the amount recognized in other comprehensive income is
transferred to the carrying amount of the asset when it is recognized. In other cases the amount recognized in
other comprehensive income is transferred to profit or loss in the same period that the hedged item affects profit
or loss. Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated or
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exercised, or no longer qualifies for hedge accounting. If a hedged transaction is no longer expected to occur, the
net cumulative gain or loss recognized in the other comprehensive income is transferred to statement of profit and
loss.
2.3.19 Critical accounting judgments and key sources of estimation uncertainty
In the application of the Company's accounting policies the directors of the Company are required to make
judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical experience and
other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period
of the revision and future periods if the revision affects both current and future periods.
Critical judgments in applying accounting policies
The following are the critical judgments, apart from those involving estimations, that the directors have made in
the process of applying the Company's accounting policies and that have the most significant effect on the
amounts recognized in the Financial Statements.
Revenue recognition
The Company applies judgement to determine whether each product or service promised to a customer are
capable of being distinct, and are distinct in the context of the contract, if not, the promised product or services
are combined and accounted as a single performance obligation. Revenue will be recognised as the customer
obtains control of the product and services promised in the Contract. Given the nature of the product and terms
and conditions in case of certain contracts, the customer obtains control as the Company performs the work
under the contract. Therefore, revenue is recognised over time for such contracts and for other contract at a point
in time. The Company uses the percentage of completion method using the input method (cost expended) to
measure progress towards completion in respect of certain contracts. Percentage of completion method
accounting relies on estimates of total expected contract revenue and costs. This method is followed when
reasonably dependable estimates of the revenues and costs applicable to various elements of the contract can be
made. Key factors that are reviewed in estimating the future cost to complete include estimates of future labour
costs and productivity efficiencies. As the financial reporting of these contracts depends on estimates that are
assessed continually during the term of these contracts, recognised revenue and profit are subject to revision as
the contracts progresses to completion. When estimates indicate that a loss will be incurred, the loss is provided
for in the period in which the loss becomes probable.
Key sources of estimation uncertainty

The following are the key assumptions concerning the future, and other key sources of estimation uncertainty at
the end of the reporting period that may have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next financial year.
Items requiring significant estimate
Assumptions and estimation uncertainty
Useful lives of property, plant and equipment and Intangible assets
The Company reviews the estimated useful lives of property, plant and equipment and the intangible assets at the
end of each reporting period. During the current year, there has been no change in life considered for the assets.
Product development costs are incurred on new Designs, Prototypes and Technical Know-how are recognised as
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intangible assets, when the feasibility has been established, the Company has committed technical, financial and
other resources to complete the development and it is probable that asset will generate probable future economic
benefits.
Estimation of net realisable value of inventories
Inventories are stated at the lower of cost and net realisable value. In estimating the net realisable value of
inventories the Company makes an estimate of future selling prices and costs necessary to make the sale.
Contract assets
Contract asset is recognised when the performance obligations are fulfiled and revenue is recognised over a
period of time. Estimates are involved in determing the percentage of completion of the contract.
Provision for employee benefits
The Company uses actuarial assumptions to determine the obligations for employee benefits at each reporting
period. These assumptions include the discount rate, expected long-term rate of return on plan assets, rate of
increase in compensation levels and mortality rates.
Provision for taxes
Significant judgments are required in determining the provision for income taxes, including the amount expected
to be paid/ recovered for uncertain tax positions.
In assessing the realisability of defered income tax assets, the Management considers whether some portion or
all of the deferred income tax assets will not be realised. The ultimate realisation of deferred income tax assets is
dependent upon the generation of future taxable income during the periods in which the temporary differences
become deductible. The amount of deferred income tax assets considered realisable, however, could be reduced
in the near term if estimates of future taxable income during the carry forward period are reduced.
Impairment of investments in subsidiaries
The Company reviews its carrying value of investments in subsidiaries at cost, annually, or more frequently when
there is an indication for impairment. For the purpose of impairment testing, estimated future cash flows are
discounted to their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and risks specific to the assets for assessing the value in use.
The recoverable amount of an asset is the greater of its value-in-use and its fair value less costs to sell.
Other estimates
The preparation of Financial Statements involves estimates and assumptions that affect the reported amounts of
assets, liabilities, disclosure of contingent liabilities at the date of Financial Statements and the reported amounts
of revenue and expenses for the reporting period.
2.3.20 Operating cycle
Based on the nature of products / activities of the Company and the normal time between acquisition of assets
and their realization in cash or cash equivalents, the Company has determined its operating cycle as 12 months
for the purpose of classification of its assets and liabilities as current and non-current.
2.3.21 New standards and interpretations not yet adopted
Ind AS 116 Leases: On March 30, 2019, Ministry of Corporate Affairs has notified Ind AS 116, Leases. Ind AS
116 which will replace the existing leases Standard, Ind AS 17 Leases, and related Interpretations. The Standard
sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to
a contract i.e., the lessee and the lessor. Ind AS 116 introduces a single lessee accounting model and requires a
lessee to recognize assets and liabilities for all leases with a term of more than twelve months, unless the
underlying asset is of low value. Currently, operating lease expenses are charged to the Statement of Profit and
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Loss. The standard also contains enhanced disclosure requirements for lessees. Ind AS 116 substantially carries
forward the lessor accounting requirements in Ind AS 17.
The effective date for adoption of Ind AS 116 is annual periods beginning on or after 1 April 2019. The standard
permits two possible methods of transition:
• Full retrospective – Retrospectively to each prior period presented applying Ind AS 8 Accounting Policies,
Changes in Accounting Estimates and Errors
• Modified retrospective – Retrospectively, with the cumulative effect of initially applying the Standard recognized
at the date of initial application.
Under modified retrospective approach, the lessee records the lease liability as the present value of the remaining
lease payments, discounted at the incremental borrowing rate and the right of use asset either as:
• Its carrying amount as if the standard had been applied since the commencement date, but discounted at
lessee’s incremental borrowing rate at the date of initial application or
• An amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments related
to that lease recognized under Ind AS 17 immediately before the date of initial application.
Amendment to Ind AS 12 – Income taxes: On 30 March 2019, Ministry of Corporate Affairs issued amendments to
the guidance in Ind AS 12, ‘Income Taxes’, in connection with accounting for dividend distribution taxes.
The amendment clarifies that an entity shall recognise the income tax consequences of dividends in profit or loss,
other comprehensive income or equity according to where the entity originally recognised those past transactions
or events.
Effective date for application of this amendment is annual period beginning on or after 1 April 2019.
Amendment to Ind AS 19 – plan amendment, curtailment or settlement: On 30 March 2019, Ministry of Corporate
Affairs issued amendments to Ind AS 19, ‘Employee Benefits’, in connection with accounting for plan
amendments, curtailments and settlements.
The amendments require an entity:

• to use updated assumptions to determine current service cost and net interest for the remainder of the period
after a plan amendment, curtailment or settlement; and
• to recognise in profit or loss as part of past service cost, or a gain or loss on settlement, any reduction in a
surplus, even if that surplus was not previously recognised because of the impact of the asset ceiling.
The Company is evaluating the effect of the above on its financial statements.
Description of accounting policy for measuring inventories [Text Block]
Inventories
Stores, tools, spares and consumables are valued at or below cost. Inventories are valued at lower of cost and net realisable
value after providing for obsolescence and other losses, where considered necessary. The cost of inventories comprises cost of
raw materials and components, and other costs incurred in bringing the inventories to their present location and condition. The
method of determining cost of various categories of inventories are as follows:
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[610200] Notes - Corporate information and statement of IndAs compliance

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of corporate information notes and other explanatory information Textual information (36)

Statement of Ind AS compliance [TextBlock] [See below] .
Whether there is any departure from Ind AS No No

Whether there are reclassifications to comparative amounts No No
Disclosure of significant accounting policies [TextBlock] [See below]
Disclosure of corporate information notes and other explanatory information [Text Block]
General Information
TATA Advanced Systems Limited ("the Company") is a unlisted public limited Company incorporated in India with its registered
office in Hyderabad, Telangana. The Company's main object is to engage in and conduct business of scientific, technical and
research and development activities, manufacturing, testing and experimenting equipment, components, etc., in the field of
Advanced Defense Technologies, Security Systems, Aerospace, Aero structures and Airborne Systems.
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Statement of Ind AS compliance [Text Block]
Statement of Compliance
These standalone financial statements which comprise the Balance Sheet, Statement of Profit and Loss, Statement of Cash
flows and Statement of Changes in Equity ("financial statements") have been prepared in accordance with Indian Accounting
Standards (Ind AS) notified under the Section 133 of the Companies Act, 2013 (“the Act”), Companies (Indian Accounting
Standards) Rules, 2015 and relevant amendments rules issued thereafter. Except for the changes below, the Company has
consistently applied accounting policies to all periods.
The Company has adopted Ind AS 115 'Revenue from Contracts with Customers' with the date of initial application being April 1,
2018 . Ind AS 115 establishes a comprehensive framework on revenue recognition. Ind AS 115 replaces Ind AS 18 Revenue and
Ind AS 11 Construction Contracts. The Company has applied modified retrospective approach, accordingly, the transition
adjustment has been accounted in the opening retained earnings (refer note no.51).
Appendix B to Ind AS 21 'The Effects of Changes in Foreign Exchange Rates': On March 28, 2018, Ministry of Corporate Affairs
("MCA") has notified the Companies (Indian Accounting Standards) Amendment Rules, 2018 containing Appendix B to Ind AS
21, Foreign currency transactions and advance consideration which clarifies the date of the transaction for the purpose of
determining the exchange rate to use on initial recognition of the related asset, expense or income, when an entity has received
or paid advance consideration in a foreign currency. The amendment is effective from April 1, 2018.
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Disclosure of significant accounting policies [Text Block]
2 Significant accounting policies
2.1 Statement of Compliance
These standalone financial statements which comprise the Balance Sheet, Statement of Profit and Loss,
Statement of Cash flows and Statement of Changes in Equity ("financial statements") have been prepared in
accordance with Indian Accounting Standards (Ind AS) notified under the Section 133 of the Companies Act,
2013 (“the Act”), Companies (Indian Accounting Standards) Rules, 2015 and relevant amendments rules issued
thereafter. Except for the changes below, the Company has consistently applied accounting policies to all periods.
The Company has adopted Ind AS 115 'Revenue from Contracts with Customers' with the date of initial
application being April 1, 2018 . Ind AS 115 establishes a comprehensive framework on revenue recognition. Ind
AS 115 replaces Ind AS 18 Revenue and Ind AS 11 Construction Contracts. The Company has applied modified
retrospective approach, accordingly, the transition adjustment has been accounted in the opening retained
earnings (refer note no.51).
Appendix B to Ind AS 21 'The Effects of Changes in Foreign Exchange Rates': On March 28, 2018, Ministry of
Corporate Affairs ("MCA") has notified the Companies (Indian Accounting Standards) Amendment Rules, 2018
containing Appendix B to Ind AS 21, Foreign currency transactions and advance consideration which clarifies the
date of the transaction for the purpose of determining the exchange rate to use on initial recognition of the related
asset, expense or income, when an entity has received or paid advance consideration in a foreign currency. The
amendment is effective from April 1, 2018.
2.2 Basis of preperation and presentation
These financial statements have been prepared on the historical cost basis, except for certain financial
instruments which are measured at fair values at the end of each reporting period. Historical cost is generally
based on the fair value of the consideration given in exchange for goods and services. Fair value is the price that
would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date, regardless of whether that price is directly observable or estimated using
another valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account
the characteristics of the asset or liability if market participants would take those characteristics into account when
pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in
these financial statements is determined on such a basis, except for share-based payment transactions that are
within the scope of Ind AS 102, leasing transactions that are within the scope of Ind AS 17, and measurements
that have some similarities to fair value but are not fair value, such as net realizable value in Ind AS 2 or value in
use in Ind AS 36.
In addition, for financial reporting purposes, fair value measurement are categorised into level 1, 2 or 3 based on
the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to
the fair value measurement in its entirety, which are described as under:
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can
access at the measurement date.
Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or
liability, either directly or indirectly; and
Level 3 inputs are unobservable for the asset or liability.
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2.3 Summary of significant accounting policies
2.3.1 Revenue recognition
Effective April 1, 2018, the Company has adopted Ind AS 115 “Revenue from Contracts with Customers”. The
impact of adoption of Ind AS 115 has disclosed in note no.51.
Revenue is recognized upon on transfer of promised goods or services to customers in an amount that reflects
the consideration the Company expects to receive in exchange for those goods or services. Revenue is reduced
for estimated customer returns, rebates and other similar allowances, taxes or duties collected on behalf of the
government. An entity shall recognize revenue when the entity satisfies a performance obligation by transferring a
promised goods or services (i.e. an asset) to a customer. As asset is transferred when the customer obtains
control of that asset.
For performance obligations where control is transferred over time, revenues are recognised by measuring
progress towards completion of performance obligation. The selection of method to measure progress towards
completion require judgement and is based on the nature of the promised goods or services to be provided.
The Company has recognised revenue with respect to cost incurred for certain contracts where revenue is
recognised over time and has enforceable right to receive the consideration to the extent of the work performed.
Advance payments received from customers for which no goods or services transferred or rendered are
presented as ‘Advance from customers'.
Export benefits
Export benefits are recognized on accrual basis when there is reasonable certainty of realization of such
benefits/incentives.
2.3.2 Other income
Dividend income from investments is recognised in the year in which the right to receive the payment is
a)
established.
Interest income from the financial asset is recognised when it is probable that the economic benefits will flow to
the Company and can be measured reliably. Interest income is recognised on a time proportion basis taking into
b) account the amount outstanding and at the effective interest rate applicable, which is the rate exactly discounts
estimated future cash receipts through the expected life of the financial assets to that asset's net carrying amount
on initial recognition.
2.3.3 Leasing
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and
rewards of ownership to the lessee. All other leases are classified as operating leases.
The Company's significant leasing arrangements are in respect of operating leases for premises that are
cancellable in nature. The lease rentals under such agreements are recognised in the Statement of Profit and
Loss as per the terms of the lease. Rental expense from operating leases is generally recognised on a
straight-line basis over the term of the relevant lease. Where the rentals are structured solely to increase in line
with expected general inflation to compensate for the lessor’s expected inflationary cost increases, such increases
are recognised in the year in which such benefits accrue.
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2.3.4 Functional and presentation currency
Functional and presentation currency items included in the Financial Statements of the Company are measured
using the currency of the primary economic environment in which these entities operate (i.e. the “functional
currency”). The Financial Statements are presented in Indian Rupee (Rs.), the national currency of India, which is
the functional currency of the Company.
2.3.5 Foreign currency
Foreign currency transactions are recorded at exchange rates prevailing on the date of the transaction or at rates
that closely approximate the rate at the date of transactions. The date of transaction for the purpose of
determining the exchange rate on initial recognition of the related asset, expense or income (part of it) is the date
on which the entity initially recognises the non-monetary asset or non-monetary liability arising from payment or
receipt of advance consideration. Foreign currency denominated monetary assets and liabilities are restated into
the functional currency using exchange rates prevailing on the balance sheet date. Gains and losses arising on
settlement and restatement of foreign currency denominated monetary assets and liabilities are recognised in the
statement of profit and loss. Non-monetary assets and liabilities that are measured in terms of historical cost in
foreign currencies are not translated.
2.3.6 Borrowing cost
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are
assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to
the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.
Interest income earned on the temporary investments of specific borrowings pending their expenditure on
qualifying assets deducted from the borrowings costs eligible for capitalisation. All other borrowing costs are
recognised in the statement of profit and loss in the period in which they are incurred.
2.3.7 Dividend distribution
Dividend paid (including income tax there on) is recognised in the period in which the interim dividends are
approved by the Board of Directors, or in respect of the final dividend when approved by the Shareholders.
2.3.8 Employee benefits
Contribution paid/ payable to defined contribution plans comprises provident fund for certain employees covered
under the scheme are recognised in the profit or loss each year when employees have rendered services entitling
them to the contributions.
The Company’s Gratuity Scheme for its employees is a defined benefit retirement plan. Obligation under the
gratuity scheme is covered under a Scheme of Life Insurance Corporation of India (LIC) and contributions in
respect of such scheme are recognized in the profit or loss. The cost of providing benefits is determined using the
projected unit credit method, with actuarial valuations being carried out at the end of the period.
- service cost (including current service cost, past service cost, as well as gains and losses on curtailments and
settlements);
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- remeasurement
The Company presents the first two components of defined benefit costs in profit or loss in the line item
‘Employee benefits expense’. Curtailment gains and losses are accounted for as past service costs. Net interest
is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or
asset.
Remeasurement, comprising actuarial gain and losses, the effect of the changes to the asset celling (is
applicable) and the return on plan assets (excluding net interest), is reflected immediately in the balance sheet
with a charge or credit recognised in the comprehensive income in the period in which they occur.
Re-measurement recognised in other comprehensive income is reflected immediately in retained earnings and is
not reclassified to profit or loss.
The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services
rendered by employees are recognised during the year when the employees render the service. These benefits
include performance incentive and compensated absences which are expected to occur within twelve months
after the end of the period in which the employee renders the related service. The cost of such compensated
absences is accounted as under:
in case of accumulated compensated absences, when employees render the services that increase their
entitlement of future compensated absences; and
Compensated absences which are not expected to occur within twelve months after the end of the period in which
the employee renders the related services are recognised as an actuarially determined liability at the present
value of the obligation at the balance sheet date.
2.3.9 Earning per share
The Company presents basic and diluted earnings per share (“EPS”) for its equity shares. Basic EPS is
calculated by dividing the profit or loss attributable to equity shareholders by the weighted average number of
equity shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable
to equity shareholders and the weighted average number of equity shares outstanding for the effects of all dilutive
potential equity shares.
2.3.10 Taxation
Current tax
Current tax is determined as the amount of tax payable in respect of taxable income for the year as determined in
accordance with the applicable tax rates and the provisions of Income tax Act, 1961.
Deferred tax
Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the
Financial Statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax
liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally
recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be
available against which those deductible temporary differences can be utilized. Such deferred tax assets and
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liabilities are not recognized if the temporary differences arise from the initial recognition (other than in a business
combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting
profit.
The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to
be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the
period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been
enacted or substantively enacted by the end of the reporting period.
Deferred tax assets include Minimum Alternate Tax (“MAT”) paid in accordance with the tax laws in India, which
gives future economic benefits in the form of availability of set off against future income tax liability. Accordingly,
MAT is recognized as deferred tax asset in the Balance sheet when the asset can be measured reliably and it is
probable that the future economic benefits associated with the asset will be realized.
Current and deferred tax are recognised in profit or loss, except when they relate to items that are recognised in
other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised
in other comprehensive income or directly in equity, respectively.
2.3.11 Property, plant and equipment
includes purchase price, attributable expenditure incurred in bringing the asset to its working condition for the
intended use and cost of borrowing till the date of capitalisation in the case of assets involving material investment
and substantial lead time.
Properties in the course of construction for production, supply or administrative purposes are carried at cost, less
any recognised impairment loss. Depreciation of these assets, on the same basis as other property assets,
commences when the assets are ready for their intended use.
Depreciation is provided on the straight-line method as per the useful life mentioned in the below table. The
estimated useful lives and residual values are reviewed at the end of each reporting period, with the effect of any
changes in estimate accounted for on a prospective basis. Depreciation is not recorded on capital
work-in-progress until construction and installation are complete and the asset is ready for its intended use. Land
is not depreciated. Assets costing Rs. 5,000 and below are depreciated in the year of acquisition.
Useful
Type of asset lives
(Years)

8 - 12
Tools & Test sets)
f) Vehicles 4
g) Computers 3
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Period
lease
The useful life is assessed based on technical advice taking into account the nature of the asset, the estimated
usage of the asset, the operation condition of the asset, past history of replacement, maintenance support etc.
expected to arise from the continued use of the asset. Any gain or loss arising on de-recognition of the asset
(calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included
in the profit & loss in the period in which the item is derecognised.
2.3.12 Intangible assets
Software costs and Technical know-how are included in the balance sheet as intangible assets where they are
clearly linked to long term economic benefits for the Company. Intangible assets with finite useful lives that are
acquired separately are carried at cost, net of accumulated amortisation and impairment losses, if any. Cost of an
intangible asset comprises purchase price and attributable expenditure on making the asset ready for its intended
use. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life
and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in
estimate being accounted for on a prospective basis. Assets costing Rs. 5,000 and below are depreciated over a
period of one year.
project, new designs, prototypes and technical know-how) is recognized if, and only if, all of the following have
been demonstrated:
The availability of adequate technical, financial and other resources to complete the development and to use or
sell the intangible asset; and
The amount initially recognized for internally-generated intangible assets is the sum of the expenditure incurred
from the date when the intangible asset first meets the recognition criteria listed above. Where no
internally–generated intangible asset can be recognized, development expenditure is recognized in profit or loss
in the period in which it is incurred.
The costs capitalized include the cost of materials, direct labour and directly attributable overhead expenditure
from the date when the intangible asset first meets the recognition criteria incurred up to the date the asset is
available for use.
amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired
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separately.
Useful
Type of asset lives
(Years)
Computer Software 3
An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or
disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between
the net disposal proceeds and the carrying amount of the asset, are recognised in statement of profit or loss when
the asset is derecognised.
Intangible assets under development represent costs incurred towards development of Internally-generated
intangible assets (such as new Designs, Prototypes and Technical know-how), which are not completed as at the
Balance Sheet date.
The Company assesses at each reporting date whether there is an indication that an asset/cash generating unit
may be impaired. If any indication exists, the Company estimates the recoverable amount of such assets and if
carrying amount exceeds the recoverable amount, impairment is recognised. The recoverable amount is the
higher of the net selling price and its value in use. In assessing value in use, the estimated future cash flows are
discounted to their present value using an appropriate discount factor. When there is indication that previously
recognised impairment loss no longer exists or may have decreased such reversal of impairment loss is
recognised in the profit t or loss.
2.3.13 Inventories
Stores, tools, spares and consumables are valued at or below cost. Inventories are valued at lower of cost and
net realisable value after providing for obsolescence and other losses, where considered necessary. The cost of
inventories comprises cost of raw materials and components, and other costs incurred in bringing the inventories
to their present location and condition. The method of determining cost of various categories of inventories are as
follows:
2.3.14 Exceptional item
Significant gains / losses or expenses incurred arising from external events that is not expected to recur are
disclosed as Exceptional item.
2.3.15 Provisions, Contingent liabilities and contingent assets
Provisions are recognised only when there is a present obligation as a result of past events and when a
reasonable estimate of the amount of obligation can be made. The amount recognised as a provision is the best
estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into
account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash
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flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when
the effect of the time value of money is material).
Contingent liabilities are disclosed for (i) possible obligation which will be confirmed only by future events not
wholly within the control of the Company or (ii) present obligations arising from past events where it is not
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probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount
of the obligation cannot be made. Contingent assets are neither recognised nor disclosed in the Financial
Statements.
2.3.16 Segment accounting
The Company identifies primary segments based on the dominant source, nature of risks and returns and the
internal organisation and management structure. The operating segments are the segments for which separate
financial information is available and for which operating profit/loss amount are evaluated regularly by the chief
operating decision maker in deciding how to allocate resources and in assessing performance.
The accounting policies adoptedfor segment reporting are in line with the accounting policies of the Company.
Segment revenue, Segment expenses, segment assets and segment liabilities have been identified to segments
on the basis of their relationship to the operating activities of the segment.
Inter- Segment revenue is accounted on the basis of transactions which are primarily determined based on
market /fair value factors.
Revenue, expenses, assets and liabilities which relate to the company as a whole and are not allocable to
segments on reasonable basis have been included under unallocated revenue/expense/assets/ liabilities.
2.3.17 Financial instruments
Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual
provisions of the instrument.
Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and
financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial
assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the
acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately
in Statement of profit or loss.
For the purposes of subsequent measurement, financial instruments of the Company are classified in the
following categories: non-derivative financial assets comprising amortised cost, debt instruments at fair value
through other Comprehensive Income (FVTOCI), equity instruments at FVTOCI or fair value through profit and
loss account (FVTPL), non-derivative financial liabilities at amortised cost or FVTPL and derivative financial
instruments (under the category of financial assets or financial liabilities) at FVTPL.
The classification of financial instruments depends on the objective of the business model for which it is held.
Management determines the classification of its financial instruments at initial recognition.
A) Financial assets
Recognition and initial measurement
The Company initially recognises loans and advances, deposits, debt securities issues and subordinated liabilities
on the date on which they originate. All other financial instruments (including regular way purchases and sales of
financial assets) are recognised on the trade date, which is the date on which the Company becomes a party to
the contractual provisions of the instrument.
Subsequent measurement of the financial assets
(i) Financial assets carried at amortised cost
A financial asset is subsequently measured at amortised cost if it is held within a business model whose objective
is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding.
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(ii) Financial assets at fair value through other comprehensive income (FVTOCI)
A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a
business model whose objective is achieved by both collecting contractual cash flows and selling financial assets
and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments
of principal and interest on the principal amount outstanding. Further, in case where the company has made an
irrevocable selection based on its business model, for its investments which are classified as equity instruments,
the subsequent changes in fair value are recognized in other comprehensive income.
(iii) Financial assets at fair value through profit or loss (FVTPL)
A financial asset which is not classified in any of the above categories are subsequently fair valued through profit
or loss. The transaction costs directly attributable to the acquisition of financial assets and financial liabilities at
fair value through profit and loss are immediately recognized in the Statement of profit or loss.
(iv) Effective Interest Method
The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating
interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated
future cash receipts (including all fees and points paid or received that form an integral part of the effective
interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument,
or where appropriate, a shorter period, to the gross carrying amount on initial recognition.
Income is recognised on an effective interest basis for debt instruments other than those financial assets
classified as at FVTPL. Interest income is recognised in profit or loss and is included in the “Other Income” line
item.
(v) Impairment of Financial assets
The Company applies the expected credit loss (ECL) model for recognising the impairment loss on financial
assets measured at amortised cost and FVTOCI but are not fair valued through profit and loss. Loss allowance for
trade receivables with no significant financing component is measured at an amount equal to lifetime ECL. For all
other financial assets, ECLs are measured at an amount equal to the 12-month ECL, unless there has been a
significant increase in credit risk from initial recognition, in which case those are measured at lifetime ECL. The
amount of ECLs (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that
is required to be recognized is recognized as an impairment gain or loss in the Statement of Profit or Loss.
(vi) Derecognition of Financial assets
The Company derecognises a financial asset when the contractual rights to the cash flows from the asset expire,
or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to
another party. If the Company neither transfers nor retains substantially all the risks and rewards of ownership
and continues to control the transferred asset, the Company recognises its retained interest in the asset and an
associated liability for amounts it may have to pay. If the Company retains substantially all the risks and rewards
of ownership of a transferred financial asset, the Company continues to recognise the financial asset and also
recognises a collateralised borrowing for the proceeds received.
On derecognition of a financial asset in its entirety, the difference between the asset's carrying amount and the
sum of the consideration received and receivable and the cumulative gain or loss that had been recognised in
other comprehensive income and accumulated in equity is recognised in profit or loss if such gain or loss would
have otherwise been recognised in profit or loss on disposal of that financial asset.
On derecognition of a financial asset other than in its entirety (e.g. when the Company retains an option to
repurchase part of a transferred asset), the Company allocates the previous carrying amount of the financial asset
between the part it continues to recognise under continuing involvement, and the part it no longer recognises on
the basis of the relative fair values of those parts on the date of the transfer. The difference between the carrying
amount allocated to the part that is no longer recognised and the sum of the consideration received for the part no
longer recognised and any cumulative gain or loss allocated to it that had been recognised in other
comprehensive income is recognised in profit or loss if such gain or loss would have otherwise been recognised
in profit or loss on disposal of that financial asset. A cumulative gain or loss that had been recognised in other
comprehensive income is allocated between the part that continues to be recognised and the part that is no
longer recognised on the basis of the relative fair values of those parts.
(vii) Foreign exchange gains and losses:
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The fair value of financial assets denominated in a foreign currency is determined in that foreign currency and
translated at the spot rate at the end of each reporting period.
For foreign currency denominated financial assets measured at amortised cost and FVTPL, the exchange
differences are recognised in profit or loss except for those which are designated as hedging instruments in a
hedging relationship.
B) Financial liabilities and equity instruments
(i) Classification as debt or equity
Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in
accordance with the substance of the Contractual arrangements and the definitions of a financial liability and an
equity instrument.
(ii) Equity Instruments
An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all
of its liabilities. Equity instruments issued by the Company are recognised at the proceeds received, net of direct
issue costs.
(iii) Financial liabilities
All financial liabilities are subsequently measured at amortised cost using the effective interest method or at
FVTPL.
However, financial liabilities that arise when a transfer of a financial asset does not qualify for derecognition or
when the continuing involvement approach applies, financial guarantee contracts issued by the Company, and
commitments issued by the Company to provide a loan at below-market interest rate are measured in accordance
with the specific accounting policies set out below.
(iv) Financial liabilities at FVTPL
Financial liabilities are classified as at FVTPL, when the financial liability is either contingent consideration
recognised by the Company as an acquirer in a business combination to which Ind AS 103 applies or is held for
trading or it is designated as at FVTPL.
A financial liability is classified as held for trading if:
it has been incurred principally for the purpose of repurchasing it in the near term; or
on initial recognition it is part of a portfolio of identified financial instruments that the Company manages together
and has a recent actual pattern of short-term profit-taking; or
it is a derivative that is not designated and effective as a hedging instrument.
A financial liability other than a financial liability held for trading or contingent consideration recognised by the
Company as an acquirer in a business combination to which Ind AS 103 applies, may be designated as at FVTPL
upon initial recognition if:
such designation eliminates or significantly reduces a measurement or recognition inconsistency that would
otherwise arise;
the financial liability forms part of a group of financial assets or financial liabilities or both, which is managed and
its performance is evaluated on a fair value basis, in accordance with the Company's documented risk
management or investment strategy, and information about the group is provided internally on that basis; or
it forms part of a contract containing one or more embedded derivatives, and Ind AS 109 permits the entire
combined contract to be designated as at FVTPL in accordance with IND AS 109
Financial liabilities at FVTPL are stated at fair value, with any gains or losses arising on remeasurement
recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any interest paid on the
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financial liability and is included in the 'Other income' line item.
However, for non-held-for-trading financial liabilities that are designated as at FVTPL, the amount of change in the
fair value of the financial liability that is attributable to changes in the credit risk of that liability is recognised in
other comprehensive income, unless the recognition of the effects of changes in the liability's credit risk in other
comprehensive income would create or enlarge an accounting mismatch in profit or loss, in which case these
effects of changes in credit risk are recognised in profit or loss. The remaining amount of change in the fair value
of liability is always recognised in profit or loss. Changes in fair value attributable to a financial liability's credit risk
that are recognised in other comprehensive income are reflected immediately in retained earnings and are not
subsequently reclassified to profit or loss. Gains or losses on financial guarantee contracts and loan commitments
issued by the Company that are designated by the Company as at fair value through profit or loss are recognised
in profit or loss.
(iv) Financial liabilities subsequently measured at amortized cost:
Financial liabilities that are not held-for-trading and are not designated as at FVTPL are measured at amortized
cost at the end of subsequent accounting periods. The carrying amounts of financial liabilities that are
subsequently measured at amortized cost are determined based on the effective interest method. Interest
expense that is not capitalized as part of costs of an asset is included in the 'Finance costs' line item.
The effective interest method is a method of calculating the amortized cost of financial liability and of allocating
interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated
future cash payments (including all fees and points paid or received that form an integral part of the effective
interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability,
or (where appropriate) a shorter period, to the net carrying amount on initial recognition.
(v) Other financial liabilities
Other financial liabilities (including borrowings and trade and other payables) are subsequently measured at
amortised cost using the effective interest method.
(vi) Foreign exchange gains and losses
For financial liabilities that are denominated in a foreign currency and are measured at amortised cost at the end
of each reporting period, the foreign exchange gains and losses are determined based on the amortised cost of
the instruments and are recognised in 'Other income'.
The fair value of financial liabilities denominated in a foreign currency is determined in that foreign currency and
translated at the spot rate at the end of the reporting period. For financial liabilities that are measured as at
FVTPL, the foreign exchange component forms part of the fair value gains or losses and is recognised in profit or
loss.
(vii) Derecognition of financial liabilities
The Company derecognises financial liabilities when, and only when, the Company's obligations are discharged,
cancelled or have expired. An exchange between a lender of debt instruments with substantially different terms is
accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability.
Similarly, a substantial modification of the terms of an existing financial liability (whether or not attributable to the
financial difficulty of the debtor) is accounted for as an extinguishment of the original financial liability and the
recognition of a new financial liability. The difference between the carrying amount of the financial liability
derecognised and the consideration paid and payable is recognised in profit or loss.
2.3.18 Derivative financial instruments
The Company enters into a variety of derivative financial instruments to manage its exposure to interest rate and
foreign exchange rate risks, including foreign exchange forward contracts, option contracts and interest rate
swaps.
Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are
subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is
recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument,
in which event the timing of the recognition in profit or loss depends on the nature of the hedging relationship and
the nature of the hedged items.
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow
109
hedges are recorded in other comprehensive income net of applicable deferred income taxes. The gain or loss
relating to the ineffective portion is recognized immediately in the statement of profit and loss. The cumulative
gain or loss previously recognized in other comprehensive income remains there until the forecast transaction
occurs. When the hedged item is a non-financial asset, the amount recognized in other comprehensive income is
transferred to the carrying amount of the asset when it is recognized. In other cases the amount recognized in
other comprehensive income is transferred to profit or loss in the same period that the hedged item affects profit
or loss. Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated or
110
exercised, or no longer qualifies for hedge accounting. If a hedged transaction is no longer expected to occur, the
net cumulative gain or loss recognized in the other comprehensive income is transferred to statement of profit and
loss.
2.3.19 Critical accounting judgments and key sources of estimation uncertainty
In the application of the Company's accounting policies the directors of the Company are required to make
judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical experience and
other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period
of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgments, apart from those involving estimations, that the directors have made in
the process of applying the Company's accounting policies and that have the most significant effect on the
amounts recognized in the Financial Statements.
Revenue recognition
The Company applies judgement to determine whether each product or service promised to a customer are
capable of being distinct, and are distinct in the context of the contract, if not, the promised product or services
are combined and accounted as a single performance obligation. Revenue will be recognised as the customer
obtains control of the product and services promised in the Contract. Given the nature of the product and terms
and conditions in case of certain contracts, the customer obtains control as the Company performs the work
under the contract. Therefore, revenue is recognised over time for such contracts and for other contract at a point
in time. The Company uses the percentage of completion method using the input method (cost expended) to
measure progress towards completion in respect of certain contracts. Percentage of completion method
accounting relies on estimates of total expected contract revenue and costs. This method is followed when
reasonably dependable estimates of the revenues and costs applicable to various elements of the contract can be
made. Key factors that are reviewed in estimating the future cost to complete include estimates of future labour
costs and productivity efficiencies. As the financial reporting of these contracts depends on estimates that are
assessed continually during the term of these contracts, recognised revenue and profit are subject to revision as
the contracts progresses to completion. When estimates indicate that a loss will be incurred, the loss is provided
for in the period in which the loss becomes probable.

The following are the key assumptions concerning the future, and other key sources of estimation uncertainty at
the end of the reporting period that may have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next financial year.
Assumptions and estimation uncertainty
The Company reviews the estimated useful lives of property, plant and equipment and the intangible assets at the
end of each reporting period. During the current year, there has been no change in life considered for the assets.
Product development costs are incurred on new Designs, Prototypes and Technical Know-how are recognised as
111
intangible assets, when the feasibility has been established, the Company has committed technical, financial and
other resources to complete the development and it is probable that asset will generate probable future economic
benefits.
Inventories are stated at the lower of cost and net realisable value. In estimating the net realisable value of
inventories the Company makes an estimate of future selling prices and costs necessary to make the sale.
Contract assets
Contract asset is recognised when the performance obligations are fulfiled and revenue is recognised over a
period of time. Estimates are involved in determing the percentage of completion of the contract.
The Company uses actuarial assumptions to determine the obligations for employee benefits at each reporting
period. These assumptions include the discount rate, expected long-term rate of return on plan assets, rate of
increase in compensation levels and mortality rates.
Provision for taxes
Significant judgments are required in determining the provision for income taxes, including the amount expected
to be paid/ recovered for uncertain tax positions.
In assessing the realisability of defered income tax assets, the Management considers whether some portion or
all of the deferred income tax assets will not be realised. The ultimate realisation of deferred income tax assets is
dependent upon the generation of future taxable income during the periods in which the temporary differences
become deductible. The amount of deferred income tax assets considered realisable, however, could be reduced
in the near term if estimates of future taxable income during the carry forward period are reduced.
The Company reviews its carrying value of investments in subsidiaries at cost, annually, or more frequently when
there is an indication for impairment. For the purpose of impairment testing, estimated future cash flows are
discounted to their present value using a pre-tax discount rate that reflects current market assessments of the
time value of money and risks specific to the assets for assessing the value in use.
The recoverable amount of an asset is the greater of its value-in-use and its fair value less costs to sell.
Other estimates
The preparation of Financial Statements involves estimates and assumptions that affect the reported amounts of
assets, liabilities, disclosure of contingent liabilities at the date of Financial Statements and the reported amounts
of revenue and expenses for the reporting period.
2.3.20 Operating cycle
Based on the nature of products / activities of the Company and the normal time between acquisition of assets
and their realization in cash or cash equivalents, the Company has determined its operating cycle as 12 months
for the purpose of classification of its assets and liabilities as current and non-current.
2.3.21 New standards and interpretations not yet adopted
Ind AS 116 Leases: On March 30, 2019, Ministry of Corporate Affairs has notified Ind AS 116, Leases. Ind AS
116 which will replace the existing leases Standard, Ind AS 17 Leases, and related Interpretations. The Standard
sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to
a contract i.e., the lessee and the lessor. Ind AS 116 introduces a single lessee accounting model and requires a
lessee to recognize assets and liabilities for all leases with a term of more than twelve months, unless the
underlying asset is of low value. Currently, operating lease expenses are charged to the Statement of Profit and
112
Loss. The standard also contains enhanced disclosure requirements for lessees. Ind AS 116 substantially carries
forward the lessor accounting requirements in Ind AS 17.
The effective date for adoption of Ind AS 116 is annual periods beginning on or after 1 April 2019. The standard
permits two possible methods of transition:
• Full retrospective – Retrospectively to each prior period presented applying Ind AS 8 Accounting Policies,
Changes in Accounting Estimates and Errors
• Modified retrospective – Retrospectively, with the cumulative effect of initially applying the Standard recognized
at the date of initial application.
Under modified retrospective approach, the lessee records the lease liability as the present value of the remaining
lease payments, discounted at the incremental borrowing rate and the right of use asset either as:
• Its carrying amount as if the standard had been applied since the commencement date, but discounted at
lessee’s incremental borrowing rate at the date of initial application or
• An amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments related
to that lease recognized under Ind AS 17 immediately before the date of initial application.
Amendment to Ind AS 12 – Income taxes: On 30 March 2019, Ministry of Corporate Affairs issued amendments to
the guidance in Ind AS 12, ‘Income Taxes’, in connection with accounting for dividend distribution taxes.
The amendment clarifies that an entity shall recognise the income tax consequences of dividends in profit or loss,
other comprehensive income or equity according to where the entity originally recognised those past transactions
or events.
Amendment to Ind AS 19 – plan amendment, curtailment or settlement: On 30 March 2019, Ministry of Corporate
Affairs issued amendments to Ind AS 19, ‘Employee Benefits’, in connection with accounting for plan
amendments, curtailments and settlements.

• to use updated assumptions to determine current service cost and net interest for the remainder of the period
after a plan amendment, curtailment or settlement; and
• to recognise in profit or loss as part of past service cost, or a gain or loss on settlement, any reduction in a
surplus, even if that surplus was not previously recognised because of the impact of the asset ceiling.
[610300] Notes - Accounting policies, changes in accounting estimates and errors

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of changes in accounting policies, accounting estimates and errors
[TextBlock]
Disclosure of initial application of standards or interpretations
[TextBlock]
Whether initial application of an Ind AS has an effect on the
No No
current period or any prior period
Disclosure of voluntary change in accounting policy [TextBlock]
Whether there is any voluntary change in accounting policy No No
Explanation of new Ind AS not applied [See below]
Disclosure of changes in accounting estimates [TextBlock]
Whether there are changes in acounting estimates during the year No No
113
Explanation of new Ind AS not applied
New standards and interpretations not yet adopted
Ind AS 116 Leases: On March 30, 2019, Ministry of Corporate Affairs has notified Ind AS 116, Leases. Ind AS 116 which will
replace the existing leases Standard, Ind AS 17 Leases, and related Interpretations. The Standard sets out the principles for the
recognition, measurement, presentation and disclosure of leases for both parties to a contract i.e., the lessee and the lessor. Ind
AS 116 introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities for all leases with a
term of more than twelve months, unless the underlying asset is of low value. Currently, operating lease expenses are charged
to the Statement of Profit and Loss. The standard also contains enhanced disclosure requirements for lessees. Ind AS 116
substantially carries forward the lessor accounting requirements in Ind AS 17.
The effective date for adoption of Ind AS 116 is annual periods beginning on or after 1 April 2019. The standard permits two
possible methods of transition:
• Full retrospective – Retrospectively to each prior period presented applying Ind AS 8 Accounting Policies, Changes in
Accounting Estimates and Errors
• Modified retrospective – Retrospectively, with the cumulative effect of initially applying the Standard recognized at the date of
initial application.
Under modified retrospective approach, the lessee records the lease liability as the present value of the remaining lease
payments, discounted at the incremental borrowing rate and the right of use asset either as:
• Its carrying amount as if the standard had been applied since the commencement date, but discounted at lessee’s incremental
borrowing rate at the date of initial application or
• An amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments related to that lease
recognized under Ind AS 17 immediately before the date of initial application.
Amendment to Ind AS 12 – Income taxes: On 30 March 2019, Ministry of Corporate Affairs issued amendments to the guidance
in Ind AS 12, ‘Income Taxes’, in connection with accounting for dividend distribution taxes.
The amendment clarifies that an entity shall recognise the income tax consequences of dividends in profit or loss, other
comprehensive income or equity according to where the entity originally recognised those past transactions or events.
Amendment to Ind AS 19 – plan amendment, curtailment or settlement: On 30 March 2019, Ministry of Corporate Affairs issued
amendments to Ind AS 19, ‘Employee Benefits’, in connection with accounting for plan amendments, curtailments and
settlements.

• to use updated assumptions to determine current service cost and net interest for the remainder of the period after a plan
amendment, curtailment or settlement; and
• to recognise in profit or loss as part of past service cost, or a gain or loss on settlement, any reduction in a surplus, even if that
surplus was not previously recognised because of the impact of the asset ceiling.
114
[400600] Notes - Property, plant and equipment
Disclosure of additional information about property plant and equipment [Table] ..(1)
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of additional information about
property plant and equipment [Abstract]
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child
Refer to child member Straight line method Straight line method
equipment member
Useful lives or depreciation rates, property, Refer to child
Refer to child member NIL NIL
plant and equipment member
Whether property, plant and equipment are
No No No No
stated at revalued amount
Classes of property, plant and equipment [Axis] Buildings [Member] Office building [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned and leased assets [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Straight line method Straight line method Refer to child member
equipment member
Useful lives or depreciation rates, property, Refer to child Refer to child
Refer to child member Refer to child member
plant and equipment member member
No No No No
Classes of property, plant and equipment [Axis] Office building [Member] Other building [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
equipment member
10/30 years 10/30 years Refer to child member
No No No No
115
Classes of property, plant and equipment [Axis] Other building [Member] Plant and equipment [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
equipment member
10/30 years 10/30 years Refer to child member
No No No No
Classes of property, plant and equipment [Axis] Factory equipments [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
equipment member
Refer to child member 8-12/3/10 years 8-12/3/10 years
No No No No
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
equipment member
Refer to child member 5 years 5 years
No No No No
116
Classes of property, plant and equipment [Axis] Vehicles [Member] Motor vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned and leased assets [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Depreciation method, property, plant and Refer to child Refer to child
equipment member member
Useful lives or depreciation rates, property, Refer to child Refer to child
plant and equipment member member
No No No No
Classes of property, plant and equipment [Axis] Motor vehicles [Member] Office equipment [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
equipment member
4 years 4 years Refer to child member
No No No No
Classes of property, plant and equipment [Axis] Office equipment [Member] Computer equipments [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
equipment member
5 years 5 years Refer to child member
No No No No
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of additional information about property plant and equipment [Abstract]
Disclosure of additional information about property plant and equipment [Line items]
Depreciation method, property, plant and equipment Straight line method Straight line method
Useful lives or depreciation rates, property, plant and equipment 3 years 3 years
Whether property, plant and equipment are stated at revalued amount No No
117
Disclosure of detailed information about property, plant and equipment [Table] ..(1)
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2018 01/04/2017
31/03/2019 31/03/2018 to to
31/03/2019 31/03/2018
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 9,118 1,166
equipment
Acquisitions through business
combinations, property, plant and 0 337
equipment
Disposals and retirements, property,
Disposals, property, plant and
849 56
equipment
Total disposals and retirements,
849 56
property, plant and equipment
Total increase (decrease) in property,
8,269 1,447
plant and equipment
Property, plant and equipment at end of
13,418 5,872 22,508 14,239
period
118
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Carrying amount accumulated depreciation and gross carrying amount Gross carrying
Accumulated depreciation and impairment [Member]
[Axis] amount [Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1,466 1,257
loss
Total Depreciation property plant and
1,466 1,257
equipment
Impairment loss recognised in profit
or loss, property, plant and -163 229
equipment
Increase (decrease) through transfers and
other changes, property, plant and
Increase (decrease) through other
changes, property, plant and 0 365
equipment
Total increase (decrease) through
transfers and other changes, property, 0 365
plant and equipment
580 52
equipment
580 52
723 1,799
plant and equipment
12,792 9,090 8,367 6,568
period
119
Carrying amount [Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
combinations, property, plant and 0 0 0
equipment
equipment
0 0
loss
0 0
equipment
or loss, property, plant and 0 0
equipment
equipment
plant and equipment
0 0 0
equipment
0 0 0
0 0 0
plant and equipment
52 52 52 52
period
120
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
combinations, property, plant and 0
equipment
equipment
0 0
loss
0 0
equipment
equipment
equipment
transfers and other changes, property, 0
plant and equipment
0 0 0
equipment
0 0 0
0 0 0
plant and equipment
52 52 0 0
period
121
Owned and leased
assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying amount depreciation and
[Axis] impairment
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
0 0
loss
0 0
equipment
equipment
equipment
plant and equipment
0 0
equipment
0 0
0 0
plant and equipment
0 52 52 52
period
122
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
0
loss
0
equipment
or loss, property, plant and 0
equipment
changes, property, plant and 0
equipment
plant and equipment
0 0 0
equipment
0 0 0
0 0 0
plant and equipment
52 52 52 0
period
123
Classes of property, plant and equipment [Axis] Land [Member] Buildings [Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
combinations, property, plant and 1,956 210
equipment
equipment
0 -175 -158
loss
0 -175 -158
equipment
or loss, property, plant and 0 0 0
equipment
changes, property, plant and 0 0 -173
equipment
transfers and other changes, property, 0 -173
plant and equipment
0 10 119
equipment
0 10 119
0 1,771 -240
plant and equipment
0 0 4,745 2,974
period
124
Classes of property, plant and equipment [Axis] Buildings [Member]
Carrying amount accumulated depreciation and gross carrying amount Carrying amount
[Axis] [Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
192 160
equipment
192 160
1,764 50
plant and equipment
3,214 6,910 5,146 5,096
period
125
Owned assets
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
combinations, property, plant and 1,956
equipment
equipment
175 158
loss
175 158
equipment
equipment
equipment
plant and equipment
182 41 192
equipment
182 41 192
-7 290 1,764
plant and equipment
2,165 2,172 1,882 6,910
period
126
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
175 158
loss
175 158
equipment
equipment
equipment
plant and equipment
160 182 41
equipment
160 182 41
50 -7 290
plant and equipment
5,146 5,096 2,165 2,172
period
127
Buildings
Classes of property, plant and equipment [Axis] Office building [Member]
[Member]
Owned assets
[Member]
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
-175 -149
loss
-175 -149
equipment
equipment
equipment
plant and equipment
0 119
equipment
0 119
1,781 -250
plant and equipment
1,882 4,745 2,964 3,214
period
128
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
175
loss
175
equipment
equipment
equipment
plant and equipment
0 160 0
equipment
0 160 0
1,956 -142 175
plant and equipment
6,910 4,954 5,096 2,165
period
129
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
149 -175 -149
loss
149 -175 -149
equipment
equipment
changes, property, plant and 0 0 0
equipment
plant and equipment
41 0 119
equipment
41 0 119
108 1,781 -250
plant and equipment
1,990 1,882 4,745 2,964
period
130
[Axis] [Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
0 160
equipment
0 160
1,956 -142
plant and equipment
3,214 6,910 4,954 5,096
period
131
Other building
[Member]
Owned and leased
assets [Member]
[Axis] [Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
175 149 0
loss
175 149 0
equipment
equipment
equipment
plant and equipment
0 41 10
equipment
0 41 10
175 108 -10
plant and equipment
2,165 1,990 1,882 0
period
132
Classes of property, plant and equipment [Axis] Other building [Member]
amount [Axis]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
-9
loss
-9
equipment
equipment
changes, property, plant and -173
equipment
transfers and other changes, property, -173
plant and equipment
0 192 0
equipment
0 192 0
10 -192 192
plant and equipment
10 0 0 192
period
133
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
0 9
loss
0 9
equipment
equipment
equipment
plant and equipment
182 0
equipment
182 0
-182 182
plant and equipment
0 0 182 0
period
134
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
0 -9
loss
0 -9
equipment
equipment
changes, property, plant and 0 -173
equipment
plant and equipment
10 0 192
equipment
10 0 192
-10 10 -192
plant and equipment
0 10 0 0
period
135
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
0 9
loss
0 9
equipment
equipment
equipment
plant and equipment
0 182 0
equipment
0 182 0
192 -182 182
plant and equipment
192 0 0 182
period
136
Other building
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
[Member]
Owned assets
[Member]
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
-916 -830
loss
-916 -830
equipment
or loss, property, plant and 163 -229
equipment
equipment
plant and equipment
230 -117
equipment
230 -117
5,318 -510
plant and equipment
0 7,495 2,177 2,687
period
137
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
916
loss
916
equipment
or loss, property, plant and -163
equipment
equipment
plant and equipment
460 -130 230
equipment
460 -130 230
5,841 562 523
plant and equipment
12,765 6,924 6,362 5,270
period
138
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
830
loss
830
equipment
equipment
equipment
-13 460 -130
equipment
-13 460 -130
1,072 5,841 562
plant and equipment
4,747 3,675 12,765 6,924
period
139
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
916 830
loss
916 830
equipment
equipment
equipment
plant and equipment
230 -13
equipment
230 -13
523 1,072
plant and equipment
6,362 5,270 4,747 3,675
period
140
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
combinations, property, plant and 6,301 432 6,301
equipment
equipment
-916 -830
loss
-916 -830
equipment
equipment
equipment
plant and equipment
230 -117 460
equipment
230 -117 460
5,318 -510 5,841
plant and equipment
7,495 2,177 2,687 12,765
period
141
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
916 830
loss
916 830
equipment
equipment
equipment
plant and equipment
-130 230 -13
equipment
-130 230 -13
562 523 1,072
plant and equipment
6,924 6,362 5,270 4,747
period
142
Owned and leased
assets [Member]
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
-916 -830
loss
-916 -830
equipment
equipment
equipment
plant and equipment
230 -117
equipment
230 -117
5,318 -510
plant and equipment
3,675 7,495 2,177 2,687
period
143
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
916
loss
916
equipment
or loss, property, plant and -163
equipment
equipment
plant and equipment
460 -130 230
equipment
460 -130 230
5,841 562 523
plant and equipment
12,765 6,924 6,362 5,270
period
144
Classes of property, plant and equipment [Axis] Factory equipments [Member] Furniture and fixtures [Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
830 -28 -26
loss
830 -28 -26
equipment
equipment
equipment
plant and equipment
-13 1 1
equipment
-13 1 1
1,072 118 14
plant and equipment
4,747 3,675 175 57
period
145
[Axis] [Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
6 2
equipment
6 2
141 59
plant and equipment
43 416 275 216
period
146
Owned assets
[Member]
[Axis] [Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
28 26 -28
loss
28 26 -28
equipment
equipment
equipment
transfers and other changes, property, 0 20 0
plant and equipment
5 1 1
equipment
5 1 1
23 45 118
plant and equipment
241 218 173 175
period
147
amount [Axis]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
-26
loss
-26
equipment
equipment
equipment
plant and equipment
1 6 2
equipment
1 6 2
14 141 59
plant and equipment
57 43 416 275
period
148
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
28 26
loss
28 26
equipment
equipment
equipment
plant and equipment
5 1
equipment
5 1
23 45
plant and equipment
216 241 218 173
period
149
Classes of property, plant and equipment [Axis] Vehicles [Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
-18 -19
loss
-18 -19
equipment
equipment
equipment
plant and equipment
20 2 35
equipment
20 2 35
-33 39 -30
plant and equipment
26 59 20 121
period
150
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
18 19
loss
18 19
equipment
equipment
equipment
plant and equipment
14 15 12
equipment
14 15 12
66 3 27
plant and equipment
151 85 95 92
period
151
Owned and leased
assets [Member]
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
35 14
equipment
35 14
-30 66
plant and equipment
65 121 151 85
period
152
Motor vehicles
[Member]
Owned and leased
assets [Member]
[Axis] [Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
18 19 -18
loss
18 19 -18
equipment
equipment
equipment
plant and equipment
15 12 20
equipment
15 12 20
3 27 -33
plant and equipment
95 92 65 26
period
153
Classes of property, plant and equipment [Axis] Motor vehicles [Member]
amount [Axis]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
-19
loss
-19
equipment
equipment
equipment
plant and equipment
2 35 14
equipment
2 35 14
39 -30 66
plant and equipment
59 20 121 151
period
154
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
18 19
loss
18 19
equipment
equipment
equipment
plant and equipment
15 12
equipment
15 12
3 27
plant and equipment
85 95 92 65
period
155
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
-18 -19
loss
-18 -19
equipment
equipment
equipment
plant and equipment
20 2 35
equipment
20 2 35
-33 39 -30
plant and equipment
26 59 20 121
period
156
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
18 19
loss
18 19
equipment
equipment
equipment
plant and equipment
14 15 12
equipment
14 15 12
66 3 27
plant and equipment
151 85 95 92
period
157
Motor vehicles
Classes of property, plant and equipment [Axis] Office equipment [Member]
[Member]
Owned assets
[Member]
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
-70 -52
loss
-70 -52
equipment
equipment
equipment
plant and equipment
1 -1
equipment
1 -1
35 151
plant and equipment
65 261 226 75
period
158
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
70
loss
70
equipment
equipment
equipment
plant and equipment
11 -15 10
equipment
11 -15 10
95 256 60
plant and equipment
611 516 260 350
period
159
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
52 -70 -52
loss
52 -70 -52
equipment
equipment
equipment
transfers and other changes, property, 39 0 -39
plant and equipment
-14 1 -1
equipment
-14 1 -1
105 35 151
plant and equipment
290 185 261 226
period
160
[Axis] [Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
11 -15
equipment
11 -15
95 256
plant and equipment
75 611 516 260
period
161
Computer
Classes of property, plant and equipment [Axis] Office equipment [Member] equipments
[Member]
Owned and leased
assets [Member]
[Axis] [Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
70 52 -128
loss
70 52 -128
equipment
equipment
equipment
plant and equipment
10 -14 0
equipment
10 -14 0
60 105 109
plant and equipment
350 290 185 299
period
162
amount [Axis]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
-119
loss
-119
equipment
equipment
equipment
plant and equipment
0 7 1
equipment
0 7 1
57 230 244
plant and equipment
190 133 1,148 918
period
163
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
128 119
loss
128 119
equipment
equipment
equipment
plant and equipment
7 1
equipment
7 1
121 187
plant and equipment
674 849 728 541
period
164
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
-128 -119
loss
-128 -119
equipment
equipment
equipment
plant and equipment
0 0 7
equipment
0 0 7
109 57 230
plant and equipment
299 190 133 1,148
period
165
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
128 119
loss
128 119
equipment
equipment
equipment
plant and equipment
1 7 1
equipment
1 7 1
244 121 187
plant and equipment
918 674 849 728
period
166
Computer
Classes of property, plant and equipment [Axis] equipments Leasehold improvements [Member]
[Member]
Owned assets
[Member]
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
-131 -53
loss
-131 -53
equipment
equipment
equipment
plant and equipment
7 0
equipment
7 0
228 137
plant and equipment
541 365 137 0
period
167
Classes of property, plant and equipment [Axis] Leasehold improvements [Member]
Accumulated
[Axis] impairment
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
[Abstract]
equipment
equipment
131
loss
131
equipment
equipment
equipment
plant and equipment
138 24 131
equipment
138 24 131
228 210 0
plant and equipment
485 257 47 120
period
168
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
[Abstract]
equipment
equipment
53 -131 -53
loss
53 -131 -53
equipment
equipment
equipment
transfers and other changes, property, 44 0 -44
plant and equipment
24 7 0
equipment
24 7 0
73 228 137
plant and equipment
120 47 365 137
period
169
[Axis] [Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
[Abstract]
equipment
equipment
138 24
equipment
138 24
228 210
plant and equipment
0 485 257 47
period
Carrying amount accumulated depreciation and gross carrying amount [Axis] Accumulated depreciation and impairment [Member]
01/04/2018 01/04/2017
to to 31/03/2017
31/03/2019 31/03/2018
Disclosure of detailed information about property, plant and equipment
[Abstract]
Disclosure of detailed information about property, plant and
equipment [Line items]
Reconciliation of changes in property, plant and equipment
[Abstract]
Changes in property, plant and equipment [Abstract]
Depreciation, property, plant and equipment [Abstract]
Depreciation recognised in profit or loss 131 53
Total Depreciation property plant and equipment 131 53
Impairment loss recognised in profit or loss, property,
0 0
plant and equipment
Increase (decrease) through transfers and other
changes, property, plant and equipment [Abstract]
Increase (decrease) through other changes, property,
0 44
plant and equipment
Total increase (decrease) through transfers and
0 44
other changes, property, plant and equipment
Disposals and retirements, property, plant and equipment
[Abstract]
Disposals, property, plant and equipment 131 24
Total disposals and retirements, property, plant and
131 24
equipment
Total increase (decrease) in property, plant and equipment 0 73
Property, plant and equipment at end of period 120 120 47
170

01/04/2018
to
31/03/2019
Disclosure of property, plant and equipment [TextBlock] [See below]
Disclosure of detailed information about property, plant and equipment Textual information (41)
171
Disclosure of property, plant and equipment [Text Block]
Property, plant and equipment
includes purchase price, attributable expenditure incurred in bringing the asset to its working condition for the intended
use and cost of borrowing till the date of capitalisation in the case of assets involving material investment and substantial
lead time.
Properties in the course of construction for production, supply or administrative purposes are carried at cost, less any
recognised impairment loss. Depreciation of these assets, on the same basis as other property assets, commences
when the assets are ready for their intended use.
Depreciation is provided on the straight-line method as per the useful life mentioned in the below table. The estimated
useful lives and residual values are reviewed at the end of each reporting period, with the effect of any changes in
estimate accounted for on a prospective basis. Depreciation is not recorded on capital work-in-progress until construction
and installation are complete and the asset is ready for its intended use. Land is not depreciated. Assets costing Rs.
5,000 and below are depreciated in the year of acquisition.
Useful
Type of asset lives
(Years)

8 - 12
Tools & Test sets)
f) Vehicles 4
g) Computers 3
Period
lease
The useful life is assessed based on technical advice taking into account the nature of the asset, the estimated usage of
the asset, the operation condition of the asset, past history of replacement, maintenance support etc.
172
expected to arise from the continued use of the asset. Any gain or loss arising on de-recognition of the asset (calculated
as the difference between the net disposal proceeds and the carrying amount of the item) is included in the profit & loss
in the period in which the item is derecognised.
173
Disclosure of detailed information about property, plant and equipment [Text Block]
TATA Advanced Systems

Limited
Notes forming part of

Standalone Financial
Statements
(in Indian Rupees (Lakhs) ,

unless otherwise stated)
Note- 3
A. Property, plant and

equipment
Carrying Amount
As at
March
As at
31,
Particulars March
2018
31, 2019
(refer
note:53)
Freehold Land 52 52
Building 4745 2964
Plant & Equipment 7495 2177
Furniture & Fixtures 175 57
Vehicles 26 59
Office Equipments 261 226
Computers 299 190
Leasehold improvements 365 137
Demo Center 0 10
Total 13418 5872
Cost
Furniture
Freehold Plant & Office Leasehold Demo
Particulars Building & Vehicles Computers Total
Land Equipment equipment improvements Center
fixtures
Balance as at April 01,
174
2017 52 5096 6362 216 85 260 674 47 0 12792
Add: Effect of common

control business
0 0 0 27 32 61 83 134 192 529
combinations (Refer note:
53)
Additions 0 18 432 34 48 180 162 100 0 974
Deletions/Reclassification
0 160 -130 2 14 -15 1 24 0 56
(Refer note (ii))
Balance as at March 31,

52 4954 6924 275 151 516 918 257 192 14239
2018
Additions 0 1956 6301 147 5 106 237 366 0 9118
Deletions 0 0 460 6 35 11 7 138 192 849

52 6910 12765 416 121 611 1148 485 0 22508
2019
Accumulated depreciation
and amortisation
Furniture
Freehold Plant & Office Leasehold Demo
Particulars Building & Vehicles Computers Total
Land Equipment equipment improvements Center
fixtures
Balance as at April 01,

0 1882 3675 173 65 185 541 47 0 6568
2017
Add: Effect of common

control business
0 0 0 20 20 39 69 44 173 365
combinations (Refer note:
53)
Depreciation charge for

0 149 830 26 19 52 119 53 9 1257
the year
Impairment (Refer note (i)

0 0 229 0 0 0 0 0 0 229
)
Deletions/Reclassification
0 41 -13 1 12 -14 1 24 0 52
(Refer note (ii))

0 1990 4747 218 92 290 728 120 182 8367
2018
Depreciation charge for

0 175 916 28 18 70 128 131 0 1466
the year
Impairment (Refer note (i)

0 0 -163 0 0 0 0 0 0 -163
)
Deletions 0 0 230 5 15 10 7 131 182 580

0 2165 5270 241 95 350 849 120 0 9090
2019
175
Notes:
i) During the financial year
2017-18 the Company has
made provision for
impairment of tangible
assets Rs. 229 lakhs
relating to the termination
of a customer contract and
during the financial year
2018-19 the Company has
entered into a settlement
agreement and has
transferred the relevant
tangible assets amounting
to Rs. 163 lakhs to
customer, the impairment
provision was reversed.
ii) Includes reclassification

of assets inter-se.
[612100] Notes - Impairment of assets

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of impairment of assets [TextBlock]
Disclosure of impairment loss and reversal of impairment loss [TextBlock]
Whether there is any impairment loss or reversal of impairment loss
No No
during the year
Disclosure of information for impairment loss recognised or reversed
for individual Assets or cash-generating unit [TextBlock]
Whether impairment loss recognised or reversed for individual Assets
No No
or cash-generating unit
[400700] Notes - Investment property

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of investment property [TextBlock]
Disclosure of detailed information about investment property [TextBlock]
N o t
N o t
Depreciation method, investment property, cost model Applicable
Applicable
N o t N o t
Useful lives or depreciation rates, investment property, cost model Applicable Applicable
176
[400800] Notes - Goodwill
Disclosure of reconciliation of changes in goodwill [Table] ..(1)

Carrying amount accumulated amortization and impairment and gross carrying amount [Axis] Carrying amount [Member]
31/03/2019 31/03/2018
Disclosure of reconciliation of changes in goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill at end of period 0 0

31/03/2019 31/03/2018
Disclosure of goodwill [TextBlock]
Disclosure of reconciliation of changes in goodwill [Abstract]
Goodwill at end of period 0 0
[400900] Notes - Other intangible assets
Disclosure of detailed information about other intangible assets [Table] ..(1)

Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and gross
carrying amount [Axis]
01/04/2018 01/04/2017
31/03/2019 31/03/2018 to to
31/03/2019 31/03/2018
Disclosure of detailed information about other
intangible assets [Abstract]
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
822 1,274
combinations
Acquisitions through business combinations 0 64
Increase (decrease) through
transfers and other changes, other
0
changes
transfers and other changes, Other 0
intangible assets
Disposals and retirements, other
Disposals 62 583
Total Disposals and retirements,
62 583
Other intangible assets
Total increase (decrease) in Other
760 755
intangible assets
Other intangible assets at end of period 1,592 1,242 2,874 2,114
177

Classes of other intangible assets [Axis] Company other intangible assets [Member]
[Member]
Carrying amount accumulated amortization and impairment and gross Gross carrying
Accumulated amortization and impairment [Member]
carrying amount [Axis] amount [Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
assets [Abstract]
Amortisation other intangible assets 468 232
0 60
changes
transfers and other changes, Other 0 60
intangible assets
Disposals 58 150
58 150
410 142
intangible assets
Other intangible assets at end of period 1,359 1,282 872 730
178

Classes of other intangible assets [Axis] Computer software [Member]
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
assets [Abstract]
397 566 397
combinations
Acquisitions through business combinations 0 64 0
Amortisation other intangible assets -310 -149
0 -60
changes
transfers and other changes, Other 0 -60
intangible assets
Disposals 4 2 62
4 2 62
83 419 335
intangible assets
Other intangible assets at end of period 660 577 158 1,741
179

[Member]
Carrying amount accumulated amortization and impairment and gross Accumulated amortization and
carrying amount [Axis] impairment [Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
assets [Abstract]
566
combinations
Acquisitions through business combinations 64
0 0 60
changes
transfers and other changes, Other 0 0 60
intangible assets
Disposals -6 58 -8
-6 58 -8
636 252 217
intangible assets
Other intangible assets at end of period 1,406 770 1,081 829
180

Internally
generated and
other than
Sub classes of other intangible assets [Axis] internally Intangible assets other than internally generated [Member]
generated
intangible assets
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and gross amortization and
carrying amount [Axis] impairment
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
assets [Abstract]
397 566
combinations
0 -60
changes
transfers and other changes, Other 0 -60
intangible assets
Disposals 4 2
4 2
83 419
intangible assets
Other intangible assets at end of period 612 660 577 158
181

Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Accumulated
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
assets [Abstract]
397 566
combinations
Amortisation other intangible assets 310
0 0
changes
intangible assets
Disposals 62 -6 58
62 -6 58
335 636 252
intangible assets
Other intangible assets at end of period 1,741 1,406 770 1,081
182

Classes of other intangible assets [Axis] Computer software [Member] Other intangible assets [Member]
Internally generated and other than
Intangible assets other than internally
Sub classes of other intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
assets [Abstract]
425 708
combinations
Amortisation other intangible assets 149 -158 -83
60 0 0
changes
intangible assets
Disposals -8 0 431
-8 0 431
217 267 194
intangible assets
183

Classes of other intangible assets [Axis] Other intangible assets [Member]
[Member]
Carrying amount accumulated amortization and impairment and gross Carrying amount
carrying amount [Axis] [Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
assets [Abstract]
425 708
combinations
0
changes
intangible assets
Disposals 0 589
0 589
425 119
intangible assets
Other intangible assets at end of period 471 1,133 708 589
184

Internally
Internally generated and other than internally generated generated
intangible assets [Member] intangible assets
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
assets [Abstract]
425
combinations
0 0
changes
intangible assets
Disposals 0 158 0
0 158 0
158 -75 425
intangible assets
Other intangible assets at end of period 201 43 118 1,133
185

Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
assets [Abstract]
708
combinations
0 0 0
changes
intangible assets
Disposals 589 0 158
589 0 158
119 158 -75
intangible assets
186

Other intangible
Classes of other intangible assets [Axis] Know-how [Member]
assets [Member]
Internally
generated Internally generated and other than internally generated
intangible assets intangible assets [Member]
[Member]
Accumulated
[Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
assets [Abstract]
425 708
combinations
0 0
changes
intangible assets
Disposals 0 431
0 431
267 194
intangible assets
187

[Member]
Accumulated
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
assets [Abstract]
425 708
combinations
Amortisation other intangible assets 158
0 0
changes
intangible assets
Disposals 0 589 0
0 589 0
425 119 158
intangible assets
Other intangible assets at end of period 1,133 708 589 201
188

Internally generated intangible assets
[Member]
[Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
assets [Abstract]
425 708
combinations
Amortisation other intangible assets 83 -158 -83
0 0 0
changes
intangible assets
Disposals 158 0 431
158 0 431
-75 267 194
intangible assets
189

Carrying amount accumulated amortization and impairment and gross Carrying amount
carrying amount [Axis] [Member]
01/04/2018 01/04/2017
31/03/2017 to to 31/03/2017
31/03/2019 31/03/2018
assets [Abstract]
425 708
combinations
0
changes
intangible assets
Disposals 0 589
0 589
425 119
intangible assets
Other intangible assets at end of period 471 1,133 708 589

Carrying amount accumulated amortization and impairment and gross carrying amount
[Axis]
01/04/2018 01/04/2017
to to 31/03/2017
31/03/2019 31/03/2018
Disclosure of detailed information about other intangible assets
[Abstract]
Disclosure of detailed information about other intangible assets
[Line items]
Reconciliation of changes in other intangible assets [Abstract]
Increase (decrease) through transfers and other
changes, other intangible assets [Abstract]
Increase (decrease) through other changes 0 0
Total increase (decrease) through transfers and
0 0
other changes, Other intangible assets
Disposals and retirements, other intangible assets
[Abstract]
Disposals 0 158
Total Disposals and retirements, Other intangible assets 0 158
Total increase (decrease) in Other intangible assets 158 -75
Other intangible assets at end of period 201 43 118
190
Disclosure of additional information about other intangible assets [Table] ..(1)

Intangible assets other than internally
generated [Member]
[Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of additional information about other
other intangible assets [Line items]
Refer to child
Amortisation method, other intangible assets member
Useful lives or amortisation rates, other Refer to child

Refer to child member 3 years 3 years
intangible assets member
Whether other intangible assets are stated at
No No No No
revalued amount

Classes of other intangible assets [Axis] Other intangible assets [Member] Know-how [Member]
Internally generated and other than Internally generated and other than
Sub classes of other intangible assets [Axis] internally generated intangible assets internally generated intangible assets
[Member] [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of additional information about other
other intangible assets [Line items]
Refer to child Refer to child
Amortisation method, other intangible assets member
Refer to child member
member
Useful lives or amortisation rates, other Refer to child Refer to child

intangible assets member member
Whether other intangible assets are stated at
No No No No
revalued amount

Internally generated intangible assets
[Member]
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of additional information about other intangible assets [Abstract]
Disclosure of additional information about other intangible assets [Line items]
Amortisation method, other intangible assets Straight line method Straight line method
Useful lives or amortisation rates, other intangible assets 5 years 5 years
Whether other intangible assets are stated at revalued amount No No

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of other intangible assets [TextBlock] [See below]
Disclosure of detailed information about other intangible assets Textual information (43)
Disclosure of intangible assets with indefinite useful life [TextBlock]
Whether there are intangible assets with indefinite useful life No No
191
Disclosure of other intangible assets [Text Block]
Intangible assets
Software costs and Technical know-how are included in the balance sheet as intangible assets where they are clearly
linked to long term economic benefits for the Company. Intangible assets with finite useful lives that are acquired
separately are carried at cost, net of accumulated amortisation and impairment losses, if any. Cost of an intangible asset
comprises purchase price and attributable expenditure on making the asset ready for its intended use. Amortisation is
recognised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method
are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a
prospective basis. Assets costing Rs. 5,000 and below are depreciated over a period of one year.
project, new designs, prototypes and technical know-how) is recognized if, and only if, all of the following have been
demonstrated:
The availability of adequate technical, financial and other resources to complete the development and to use or sell the
intangible asset; and
The amount initially recognized for internally-generated intangible assets is the sum of the expenditure incurred from the
date when the intangible asset first meets the recognition criteria listed above. Where no internally–generated intangible
asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred.
The costs capitalized include the cost of materials, direct labour and directly attributable overhead expenditure from the
date when the intangible asset first meets the recognition criteria incurred up to the date the asset is available for use.
amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired separately.
Useful
Type of asset lives
(Years)
Computer Software 3
192
An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or disposal.
Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal
proceeds and the carrying amount of the asset, are recognised in statement of profit or loss when the asset is
derecognised.
Intangible assets under development represent costs incurred towards development of Internally-generated intangible
assets (such as new Designs, Prototypes and Technical know-how), which are not completed as at the Balance Sheet
date.
The Company assesses at each reporting date whether there is an indication that an asset/cash generating unit may be
impaired. If any indication exists, the Company estimates the recoverable amount of such assets and if carrying amount
exceeds the recoverable amount, impairment is recognised. The recoverable amount is the higher of the net selling price
and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value
using an appropriate discount factor. When there is indication that previously recognised impairment loss no longer
exists or may have decreased such reversal of impairment loss is recognised in the profit t or loss.
193
Disclosure of detailed information about other intangible assets [Text Block]
Note 3B : Intangible assets
Carrying Amount
As at
As at
March 31, 2018
Particulars March 31,
2019
(refer note:53)
Computer software - acquired

660 577
Technical know-how / Product development costs

932 665
Total
1,592 1,242
Cost
Technical
Computer know-how /
Particulars software - Product Total
acquired development
costs
Balance as at April 01, 2017

770 589 1,359
Add: Effect of common control business combinations (Refer note: 53)

64 - 64
Additions
566 708 1,274
Deletions / Reclassifications (refer notes (i) and (ii) below)

(6) 589 583
Balance as at March 31, 2018

1,406 708 2,114
Additions
397 425 822
Deletions
62 - 62

1,741 1,133 2,874
Accumulated amortisation and impairment
194
Computer Technical
Particulars software - know-how / Total
acquired Product
development
costs
Balance as at April 01, 2017

612 118 730
Add: Effect of common control business combinations (Refer note: 53)

60 - 60
Amortisation expenses
149 83 232
Deletions / Reclassifications (refer notes (i) and (ii) below)

(8) 158 150

829 43 872
Amortisation expenses
310 158 468
Deletions
58 - 58

1,081 201 1,282
Notes:
i) Deletions during the Financial Year 2017-18 in technical know-how

represents the intangible assets cost Rs. 589 lakhs relating to the termination
of a customer contract whose accumulated depreciation is Rs. 157 lakhs and
net amount written off Rs. 432 lakhs.
ii) Reclassification of assets inter-se.
[401000] Notes - Biological assets other than bearer plants

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of biological assets, agriculture produce at point of
harvest and government grants related to biological assets
[TextBlock]
N o t N o t
Depreciation method, biological assets other than bearer plants, at cost Applicable Applicable
N o t N o t
Useful lives or depreciation rates, biological assets other than bearer
Applicable Applicable
plants, at cost
195
[611100] Notes - Financial instruments
Disclosure of financial assets [Table] ..(1)

Financial assets at amortised cost, class Other financial assets at amortised cost
Classes of financial assets [Axis]
[Member] class [Member]
Categories of financial assets [Axis] Financial assets, category [Member] Financial assets, category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 1,08,741 63,131 1,08,741 63,131
Financial assets, at fair value 0 0 0 0
Description of other financial assets at Refer to child Refer to child
amortised cost class member member

Classes of financial assets [Axis] Other financial assets at amortised cost class 1 [Member]
Financial assets at amortised cost,
Categories of financial assets [Axis] Financial assets, category [Member]
category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Financial assets 1,639 602 1,639 602
Description of other financial assets at Refer to child Loan to related
Refer to child member Loan to related parties
amortised cost class member parties

category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Financial assets 633 360 633 360
Description of other financial assets at Refer to child
Refer to child member Security Deposit Security Deposit
amortised cost class member

category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Deposits having Deposits having
Refer to child member maturity more than maturity more than 12
12 months months
196

category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Financial assets 8,921 10,773 8,921 10,773
Refer to child member Trade receivables Trade receivables

category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Financial assets 764 10,060 (A) 764 (B) 10,060
Cash and Cash Cash and Cash
Refer to child member Equivalent and other Equivalent and other
balances balances
Footnotes
(A)
Cash and Cash equivalent 761
Other Bank Balances 3
TOTAL 764
(B)
Cash and Cash equivalent 2826
TOTAL 10060

category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Description of other financial assets at Refer to child Receivables related Receivables related
amortised cost class member parties parties
197

category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Refer to child member Interest accrued Interest accrued

category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Refer to child member Unbilled revenue Unbilled revenue

category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Description of other financial assets at Refer to child Others Receivable Others Receivable and
amortised cost class member and Lease receivable Lease receivable

category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Description of other financial assets at Refer to child INVESTMENTS INVESTMENTS AT
amortised cost class member AT COST COST
198

Financial assets at fair value, class Other financial assets at fair value class
Classes of financial assets [Axis]
[Member] [Member]
Categories of financial assets [Axis] Financial assets, category [Member] Financial assets, category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Description of other financial assets at fair Refer to child Refer to child
value class member member

Classes of financial assets [Axis] Other financial assets at fair value class 1 [Member]
category [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Description of other financial assets at fair Refer to child
Refer to child member Derivative Assets Derivative Assets
value class member
Disclosure of financial liabilities [Table] ..(1)

Classes of financial liabilities [Axis] Financial liabilities at amortised cost, class [Member]
Financial liabilities at amortised cost,
Categories of financial liabilities [Axis] Financial liabilities, category [Member]
category [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 38,698 25,391 (A) 38,698 (B) 25,391
Financial liabilities, at fair value 0 0 0 0
Footnotes
(A) Refer Note 50.1 Financial instruments by category
(B) Refer Note 50.1 Financial instruments by category
199

01/04/2018
to
31/03/2019
Disclosure of financial instruments [TextBlock] [See below]
Disclosure of financial assets [TextBlock]
Disclosure of financial liabilities [TextBlock]
Disclosure of financial liabilities [Abstract]
Disclosure of credit risk [TextBlock] [See below]
Disclosure of reconciliation of changes in loss allowance and
explanation of changes in gross carrying amount for financial
instruments [TextBlock]
Disclosure of reconciliation of changes in loss allowance
and explanation of changes in gross carrying amount for
financial instruments [Abstract]
Disclosure of credit risk exposure [TextBlock]
Disclosure of credit risk exposure [Abstract]
Disclosure of provision matrix [TextBlock]
Disclosure of provision matrix [Abstract]
Disclosure of financial instruments by type of interest rate [TextBlock]
Disclosure of financial instruments by type of interest rate [Abstract]
200
Disclosure of financial instruments [Text Block]
Note 50: Financial Instruments - Fair Value & Financial Risk

Management
50.1 Financial instruments by category
Carrying amounts
As at
As at
Particulars Hierarchy March 31, 2018
March 31, 2019
(refer note:53)
Financial assets measured at fair value
Derivative assets Level 2

28 35
Financial assets measured at cost
Investments Level 2
93,110 39,275
Financial assets measured at amortised cost
Investments Level 2 * *
Loan to related parties Level 2

1,639 602
Security deposit Level 2

633 360
Deposits having original maturity more than 12 months Level 2

5 3
Trade receivables Level 2

8,921 10,773
Cash and cash equivalents Level 2

761 2,826
Other bank balances Level 2

3 7,234
Receivables related parties Level 2

8 8
Interest accrued on security deposit Level 2

4 -
Interest accrued on loan to related parties Level 2

203 130
201
Interest accrued on fixed deposit Level 2

1 95
Unbilled revenue Level 2

761 59
Lease receivables Level 2

- 26
Other receivables Level 2

2,692 1,740
Total financial assets

1,08,769 63,166
Financial liabilities measured at amortised cost
Long term borrowings Level 2

14,274 2,345
Short term borrowings Level 2

9,860 9,147
Trade payables Level 2

11,082 11,523
Current maturities of long term debt Level 2

2,032 1,911
Payable on purchase of fixed assets Level 2

1,362 417
Interest accrued and due on borrowings Level 2

25 21
Interest accrued but not due on borrowings Level 2

47 7
Other liabilities Level 2

16 20
Total financial liabilities

38,698 25,391
Carrying amounts of cash and cash equivalents, trade

receivables, trade payables, other financial assets and liabilities
as at March 31, 2019 and March 31, 2018 approximate their fair
values because of their short-term nature.
50.2 Valuation techniques and significant unobservable inputs in

measuring level 2 fair values
Financial instruments measured at fair value - Interest rate

swaps
Significant
202
Valuation technique unobservable

inputs
Swap models : the fair value is calculated as the present value of

the estimated future cash flows. Estimates of future floating-rate
cash flows are based on quoted swap rates, futures prices and
Not
interbank borrowing rates. Estimated cash flows are discounted
applicable
using a yield curve constructed from similar sources and which
reflects the relevant benchmark interbank rate used by market
participants for this purpose when pricing interest rate swaps.
Financial instruments measured at amortised cost - borrowings
Significant
inputs
Discounted cash flows: the valuation model considers the

Not
present value of expected payments, discounted using the
applicable
relevant risk-adjusted discount rate at each reporting date.
Disclosure of credit risk [Text Block]
50.4 Credit Risk Management
Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in a financial loss. The
company has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, when
appropriate, as a means of mitigating the risk of financial loss from default. The company regularly monitors its counterparty
limits by reviewing the outstanding balance and ageing of the same, as case to case basis.
The credit risk on cash and bank balances, derivative financial instruments is limited because the counter parties are banks
with high credit rating assigned and credit worthy banking institutions.
[611300] Notes - Regulatory deferral accounts

31/03/2019 31/03/2018
Disclosure of regulatory deferral accounts [TextBlock]
Total regulatory deferral account debit balances and related
0 0
deferred tax assets
203
[400400] Notes - Non-current investments
Details of non-current investments [Table] ..(1)

Classification of non-current investments [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Class of non-current investments Other investments Other investments Other investments Other investments
Unquoted Eq shares Unquoted Eq shares Unquoted Eq shares Unquoted Eq shares
Nature of non-current investments Rs 10 each Rs 10 each Rs 10 each Rs 10 each
Non-current investments 12,075 11,575 5 5
NOVA
N O V A T A S L T A S L
Name of body corporate in whom investment has INTEGRATED
INTEGRATED AEROSTRUCTURES AEROSTRUCTURES
been made SYSTEMS
SYSTEMS LIMITED PRIVATE LIMITED PRIVATE LIMITED
LIMITED
Details of whether such body corporate is
Wholly owned Wholly owned Wholly owned Wholly owned
subsidiary, associate, joint venture or Subsidiary company Subsidiary company Subsidiary company Subsidiary company
controlled special purpose entity
Number of shares of non-current investment [shares]
[shares] 11,57,47,190 [shares] 50,000 [shares] 50,000
made in body corporate 12,07,47,190

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Investment in Investment in Investment in Investment in
Type of non-current investments subsidiaries equity subsidiaries equity subsidiaries equity subsidiaries equity
instruments instruments instruments instruments
Non-current investments 2,031 2,031 53,335 0
AURORA AURORA T A L T A L
Name of body corporate in whom investment has INTEGRATED INTEGRATED MANUFACTURING MANUFACTURING
been made SYSTEMS PRIVTE SYSTEMS PRIVTE SOLUTIONS SOLUTIONS
LIMITED LIMITED LIMITED LIMITED
Wholly owned Wholly owned Wholly owned Wholly owned
subsidiary, associate, joint venture or Subsidiary company Subsidiary company Subsidiary company Subsidiary company
Number of shares of non-current investment
[shares] 38,570 [shares] 38,570 [shares] 11,50,00,000 [shares] 0
made in body corporate
204

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Investment in other Investment in other Investment in other Investment in other
Type of non-current investments Indian companies Indian companies Indian companies Indian companies
equity instruments equity instruments equity instruments equity instruments
Non-current investments 3,800 3,800 12,187 12,187
TATA LOCKHEED TATA LOCKHEED
TATA SIKORSKY TATA SIKORSKY
Name of body corporate in whom investment has MARTIN MARTIN
AEROSPACE AEROSPACE
been made AEROSTRUCTURES AEROSTRUCTURES
LIMITED LIMITED
LIMITED LIMITED
Investment in Joint Investment in Joint Investment in Joint Investment in Joint
subsidiary, associate, joint venture or venture venture venture venture
Number of shares of non-current investment
[shares] 3,79,99,999 [shares] 3,79,99,999 [shares] 12,18,739 [shares] 12,18,739
made in body corporate

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Investment in other Investment in other Investment in other Investment in other
Type of non-current investments Indian companies Indian companies Indian companies Indian companies
equity instruments equity instruments equity instruments equity instruments
Non-current investments 7,650 7,650 2,027 2,027
TATA BOEING TATA BOEING HELA SYSTEMS
Name of body corporate in whom investment has HELA SYSTEMS
AEROSPACE AEROSPACE PRIVATE
been made PRIVATE LIMITED
LIMITED LIMITED LIMITED
Investment in Joint Investment in Joint Investment in Joint Investment in Joint
subsidiary, associate, joint venture or venture venture venture venture
Number of shares of non-current investment [shares]
[shares] 7,65,00,000 [shares] 1,48,000 [shares] 1,48,000
made in body corporate 76,50,00,000

01/04/2018
to 31/03/2018
31/03/2019
Disclosure of notes on non-current investments explanatory [TextBlock] [See below]
Aggregate amount of quoted non-current investments 0 0
Market value of quoted non-current investments 0 0
Aggregate amount of unquoted non-current investments 93,110 39,275
Aggregate provision for diminution in value of non-current investments 0 0
205
Disclosure of notes on non-current investments explanatory [Text Block]
Note 4 : Investments
As at
As at
March 31, 2019
(refer note:53)
Unquoted Equity instruments
Investment in subsidiaries at cost
Wholly Owned Subsidiary Companies*
Nova Integrated Systems Limited - 120,747,190 (March 31, 2018 : 115,747,190 ) Equity
shares of Rs.10 each fully paid up 12,075 11,575
TASL Aerostructures Private Limited - 50,000 (March 31, 2018 : 50,000 ) Equity shares of
Rs.10 each fully paid up 5 5
Aurora Integrated Systems Private Limited - 38,570 (March 31, 2018: 38,570) Equity
Shares of Rs. 10 each fully paid up 2,031 2,031
TAL Manufacturing Solutions Limited- 115,000,000 (March 31, 2018: NIL) Equity Shares
of Rs. 10 each fully paid up 53,335 -
67,446 13,611
Investment in Joint ventures at cost
TATA Sikorsky Aerospace Limited - 37,999,999 (March 31, 2018 : 37,999,999) Equity
TATA Lockheed Martin Aerostructures Limited - 1,218,739 (March 31, 2018 :1,218,739)
Equity shares of Rs.1000 each fully paid up 12,187 12,187
TATA Boeing Aerospace Limited -76,500,000 (March 31, 2018: 76,500,000 ) Equity
HELA Systems Private Limited - 148,000 (March 31, 2018 : 148,000) Equity shares of
Rs.10 each fully paid up 2,027 2,027
25,664 25,664
Total
93,110 39,275
* TASEC Limited was amalgamated into the Company (refer note: 53)
206
[611600] Notes - Non-current asset held for sale and discontinued operations
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of non-current assets held for sale and discontinued operations
[TextBlock]
Net cash flows from (used in) operating activities, continuing
-5,461 2,043
operations
Net cash flows from (used in) operating activities -5,461 2,043
Net cash flows from (used in) investing activities, continuing
-62,076 -6,880
operations
Net cash flows from (used in) investing activities -62,076 -6,880
Net cash flows from (used in) financing activities, continuing
65,429 5,836
operations
Net cash flows from (used in) financing activities 65,429 5,836
[400100] Notes - Equity share capital
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Name of shareholder [Member] Shareholder 1 [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Eq Shares Rs 10 Eq Shares Rs 10
Type of share each each
Eq shares Rs 10 each Eq shares Rs 10 each
Disclosure of shareholding more than five per cent in

company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Eq Shares Rs 10 Eq Shares Rs 10
Type of share each each
Eq shares Rs 10 each Eq shares Rs 10 each
Refer to child Refer to child TATA SONS PRIVATE TATA SONS PRIVATE
Name of shareholder member member LIMITED LIMITED
CIN of shareholder U99999MH1917PTC000478 U99999MH1917PTC000478
Country of incorporation or residence of
INDIA INDIA
shareholder
[shares] [shares]
Number of shares held in company 54,81,71,157 54,81,71,157
[shares] 54,81,71,157 [shares] 54,81,71,157
Percentage of shareholding in company 100.00% 100.00% 100.00% 100.00%
207
Disclosure of classes of equity share capital [Table] ..(1)

Equity shares 1
Classes of equity share capital [Axis] Equity shares [Member]
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line
items]
Eq Shares Rs 10
Type of share each
[shares] [shares] [shares]
Number of shares authorised 250,00,00,000 70,00,00,000 250,00,00,000
Value of shares authorised 2,50,000 70,000 2,50,000
Number of shares issued 54,81,71,157 54,81,71,157 54,81,71,157
Value of shares issued 54,817.12 54,817.12 54,817.12
Number of shares subscribed and fully paid 54,81,71,157 54,81,71,157 54,81,71,157
Value of shares subscribed and fully paid 54,817.12 54,817.12 54,817.12
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
Total number of shares subscribed 54,81,71,157 54,81,71,157 54,81,71,157
Total value of shares subscribed 54,817.12 54,817.12 54,817.12
Value of shares paid-up [Abstract]
Number of shares paid-up 54,81,71,157 54,81,71,157 54,81,71,157
Value of shares called 54,817.12 54,817.12 54,817.12
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0
Calls unpaid by officers 0 0 0
Total calls unpaid by directors and
0 0 0
officers
Calls unpaid by others 0 0 0
Total calls unpaid 0 0 0
Forfeited shares 0 0 0
Forfeited shares reissued 0 0 0
Value of shares paid-up 54,817.12 54,817.12 54,817.12
Par value per share [INR/shares] 10
Amount per share called in case shares not fully
[INR/shares] 0
called
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued as rights [shares] 0 [shares] 5,98,55,957 [shares] 0
Total aggregate number of shares issued
[shares] 0 [shares] 5,98,55,957 [shares] 0
during period
Total increase (decrease) in number of
[shares] 0 [shares] 5,98,55,957 [shares] 0
shares outstanding
Number of shares outstanding at end of period 54,81,71,157 54,81,71,157
[shares] 48,83,15,200
54,81,71,157
Reconciliation of value of shares outstanding
[Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during
period [Abstract]
Amount of rights issue during period 0 5,985.6 0
Total aggregate amount of increase
0 5,985.6 0
in equity share capital during period
Total increase (decrease) in share capital 0 5,985.6 0
Equity share capital at end of period 54,817.1157 54,817.1157 48,831.52 54,817.1157
208
Rights preferences and restrictions attaching

(A) As per footnote
to class of share capital
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
[shares] [shares] (B) [shares]
Shares in company held by holding company 54,81,71,157 54,81,71,157 54,81,71,157
Total shares in company held by holding company
or ultimate holding company or by its 54,81,71,157 54,81,71,157 54,81,71,157
subsidiaries or associates
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Total application money received for
allotment of securities and due for refund 0 0 0
and interest accrued thereon
Eq Shares Rs 10
Type of share each
(A) b) Terms and rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one
vote per share. The dividend proposed by the Board of directors is subject to the approval of shareholders in the ensuing Annual General
Meeting, except in the case of interim dividend. In the event of liquidation of the Company, the holders of Equity Shares will be entitled
to receive remaining assets of the Company, after distribution of all preferential amounts if any, in proportion of their shareholding.
(B) Shares held by Holding company
TATA Sons Private Limited (the Holding Company) and its nominees 548171157
209
Disclosure of classes of equity share capital [Table] ..(2)

Classes of equity share capital [Axis] Equity shares 1 [Member]
01/04/2017
to 31/03/2017
31/03/2018
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line items]
Type of share Eq Shares Rs 10 each
Number of shares authorised [shares] 70,00,00,000
Value of shares authorised 70,000
Number of shares issued [shares] 54,81,71,157
Value of shares issued 54,817.12
Number of shares subscribed and fully paid [shares] 54,81,71,157
Value of shares subscribed and fully paid 54,817.12
Number of shares subscribed but not fully paid [shares] 0
Value of shares subscribed but not fully paid 0
Total number of shares subscribed [shares] 54,81,71,157
Total value of shares subscribed 54,817.12
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 54,81,71,157
Value of shares called 54,817.12
Calls unpaid [Abstract]
Calls unpaid by directors and officers [Abstract]
Calls unpaid by directors 0
Calls unpaid by officers 0
Total calls unpaid by directors and officers 0
Calls unpaid by others 0
Total calls unpaid 0
Forfeited shares 0
Forfeited shares reissued 0
Value of shares paid-up 54,817.12
Par value per share [INR/shares] 10
Amount per share called in case shares not fully called [INR/shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Increase in number of shares outstanding [Abstract]
Number of shares issued as rights [shares] 5,98,55,957
Total aggregate number of shares issued during period [shares] 5,98,55,957
Total increase (decrease) in number of shares outstanding [shares] 5,98,55,957
[shares]
Number of shares outstanding at end of period [shares] 54,81,71,157
48,83,15,200
Reconciliation of value of shares outstanding [Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during period [Abstract]
Amount of rights issue during period 5,985.6
Total aggregate amount of increase in equity share capital during period 5,985.6
Total increase (decrease) in share capital 5,985.6
Equity share capital at end of period 54,817.1157 48,831.52
Rights preferences and restrictions attaching to class of share capital (A) As per footnote
Shares in company held by holding company or ultimate holding company or by its
subsidiaries or associates [Abstract]
(B) [shares]
Shares in company held by holding company 54,81,71,157
Total shares in company held by holding company or ultimate holding company
[shares] 54,81,71,157
or by its subsidiaries or associates
Details of application money received for allotment of securities and due for
refund and interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund and
interest accrued thereon [Abstract]
Total application money received for allotment of securities and due for
0
refund and interest accrued thereon
Type of share Eq Shares Rs 10 each
(A) b) Terms and rights attached to equity shares
210
The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one
vote per share. The dividend proposed by the Board of directors is subject to the approval of shareholders in the ensuing Annual General
Meeting, except in the case of interim dividend. In the event of liquidation of the Company, the holders of Equity Shares will be entitled
to receive remaining assets of the Company, after distribution of all preferential amounts if any, in proportion of their shareholding.
(B) Shares held by Holding company
TATA Sons Private Limited (the Holding Company) and its nominees 548171157
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of notes on equity share capital explanatory [TextBlock] [See below]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Whether reduction in capital done during year No No
Whether money raised from public offering during year No No
211
Disclosure of notes on equity share capital explanatory [Text Block]

Note 18 : Equity share capital
As at
As at
March 31, 2019
(refer note:53)
Authorised :
2500,000,000 fully paid Equity Shares of Rs. 10 each

2,50,000 70,000
(March 31, 2018: 700,000,000)
2,50,000 70,000
Issued, Subscribed and Fully Paid-up:
548,171,157 fully paid Equity Shares of Rs. 10 each

54,817 54,817
(March 31, 2018: 548,171,157 )
54,817 54,817
a) Reconciliation of number of shares outstanding at the beginning and at the end

of the reporting year
Particulars For the year ended
March 31, 2018
March 31, 2019
(refer note:53)
Number of shares
At the beginning of the year

54,81,71,157 48,83,15,200
Issued during the year

- 5,98,55,957
Outstanding at the end of the year

54,81,71,157 54,81,71,157
Amount in Rs (in lakhs)
At the beginning of the year

54,817 48,832
Issued during the year

- 5,985
Outstanding at the end of the year

54,817 54,817
b) Terms and rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per
share. Each holder of equity shares is entitled to one vote per share. The dividend
proposed by the Board of directors is subject to the approval of shareholders in the
ensuing Annual General Meeting, except in the case of interim dividend. In the
event of liquidation of the Company, the holders of Equity Shares will be entitled to
receive remaining assets of the Company, after distribution of all preferential
amounts if any, in proportion of their shareholding.
c) No of shares held by Holding Company

As at
As at
March 31, 2019
(refer note:53)
TATA Sons Private Limited (the Holding Company) and its nominees
54,81,71,157 54,81,71,157
d) Details of shares held by each share holder holding more than 5% shares:
212
As at As at
March 31, 2019
(refer note:53)
Number of shares
TATA Sons Private Limited (the Holding Company) and its nominees
54,81,71,157 54,81,71,157
Percentage of holding
TATA Sons Private Limited (the Holding Company) and its nominees 100% 100%
[400300] Notes - Borrowings
Classification of borrowings [Table] ..(1)

Classification based on current non-current [Axis] Non-current [Member]
Classification of borrowings [Axis] Borrowings [Member]
Secured/Unsecured borrowings
Subclassification of borrowings [Axis] Secured borrowings [Member]
[Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 14,274 2,345 14,274 2,345
Nature of security [Abstract]
Refer to child
Nature of security member
Terms of repayment of term loans and other loans member
member

Classification of borrowings [Axis] Term loans [Member] Term loans from banks [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Borrowings 14,274 2,345 14,274 2,345
member
member
213

Foreign currency term loans from banks
Classification of borrowings [Axis] Rupee term loans from banks [Member]
[Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Borrowings 6,700 0 7,574 2,345
Nature of security (A) As per footnote (B) As per footnote (C) As per footnote (D) As per footnote
Terms of repayment of term loans and other loans (E) As per footnote (F) As per footnote (G) As per footnote (H) As per footnote
214
Footnotes
(A)
"1.Security
i) Kotak Mahindra Bank:
First Charge on present and future movable fixed assets of the company excluding the assets pertaining to Pilatus project which were
exclusively charged to Axis Bank
Second pari-passu charge on present and future current assets of the company
ii) Axis Bank:
Primary- Movable fixed assets and current assets of the Pilatus project both present and future.
Collateral- Second pari-passu charge on all of the Company's movable fixed assets and current assets including but not limited to Plant
& Machinery, Book debts, operating cash flow, receivables, commissions, revenue present and future
iii) HDFC Bank:
Primary: Plant & Machinery - Pari-passu charge on the plant & machinery specific to the GE project
Factory Land & Building - pari-passu charge on the land and building specific of the GE project."
"iv) ICICI Bank:
First pari-passu charge on movable fixed and current assets (present & future) pertaining to GE project
Second pari-passu charge on the movable fixed and current assets other than assets pertaining to GE contract (present & future) of the
borrower
v) Federal Bank:
First charge on Pari-passu basis over the movable fixed and current assets (present & future) of the GE engines project of the company."
(B)
"1.Security
ii) Axis Bank:
iii) HDFC Bank:
"iv) ICICI Bank:
borrower
v) Federal Bank:
(C)
"1.Security
ii) Axis Bank:
iii) HDFC Bank:
"iv) ICICI Bank:
borrower
v) Federal Bank:
(D)
"1.Security
ii) Axis Bank:
215
iii) HDFC Bank:
"iv) ICICI Bank:
borrower
v) Federal Bank:
(E)
"2. Terms of Repayment:
iii) HDFC Bank: INR 6700 lakhs repayable in 48 equated monthly instalments with a moratorium of 3 years from the date of first
disbursement of loan, the first instalment is to be paid from 10th Jan 2020.
3. Rate of Interest
Interest rate varying from 6 months LIBOR + 220 bps to 6 months LIBOR + 240 bps and interest rate swap with spread of 183 bps.
For rupee term loans from bank, interest rate is 8.85% p.a."
(F)
iii) HDFC Bank: INR 6700 lakhs repayable in 48 equated monthly instalments with a moratorium of 3 years from the date of first
disbursement of loan, the first instalment is to be paid from 10th Jan 2020.
3. Rate of Interest
(G)
i) Kotak Mahindra Bank: USD 6,413,476 repayable in 48 equated monthly instalments from 30th April, 2016 with a moratorium for the
financial years 2014-15 and 2015-16. The outstanding loan amount payable in USD 1,603,369 as at March 31, 2019 having outstanding
monthly instalments of 12.
ii) Axis Bank: USD 4,002,941 repayable in 12 equated quarterly instalments with a moratorium period of 2 years from the date of first
disbursement of loan, the first instalment is to be paid from October 31, 2017. The outstanding loan payable in USD 2,001,471 as at
March 31, 2019 having outstanding quarterly instalments of 6.
iv) ICICI Bank: USD 6,785,792 repayable in 16 equated quarterly instalments with a moratorium of 3 years from the date of first
disbursement of loan, the first instalment is to be paid from 15th August 2021.
v) Federal Bank: USD 3,497,025 repayable in 16 equated quarterly instalments with a moratorium of 3 years from the date of first
disbursement of loan, the first instalment is to be paid from 19th February 2022.
3. Rate of Interest
(H)
i) Kotak Mahindra Bank: USD 6,413,476 repayable in 48 equated monthly instalments from 30th April, 2016 with a moratorium for the
financial years 2014-15 and 2015-16. The outstanding loan amount payable in USD 1,603,369 as at March 31, 2019 having outstanding
monthly instalments of 12.
ii) Axis Bank: USD 4,002,941 repayable in 12 equated quarterly instalments with a moratorium period of 2 years from the date of first
disbursement of loan, the first instalment is to be paid from October 31, 2017. The outstanding loan payable in USD 2,001,471 as at
March 31, 2019 having outstanding quarterly instalments of 6.
iv) ICICI Bank: USD 6,785,792 repayable in 16 equated quarterly instalments with a moratorium of 3 years from the date of first
disbursement of loan, the first instalment is to be paid from 15th August 2021.
v) Federal Bank: USD 3,497,025 repayable in 16 equated quarterly instalments with a moratorium of 3 years from the date of first
disbursement of loan, the first instalment is to be paid from 19th February 2022.
3. Rate of Interest
216

Classification based on current non-current [Axis] Non-current [Member] Current [Member]
Working capital loans from banks
Classification of borrowings [Axis] Borrowings [Member]
[Member]
Secured/Unsecured borrowings
Subclassification of borrowings [Axis] Secured borrowings [Member]
[Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Borrowings 0 0 9,860 9,147
Nature of security . .
Refer to child
Terms of repayment of term loans and other loans . .
member

Classification based on current non-current [Axis] Current [Member]
Classification of borrowings [Axis] Borrowings [Member] Term loans [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Borrowings 9,860 9,147 0 0
member
member

Classification of borrowings [Axis] Term loans from banks [Member] Rupee term loans from banks [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Borrowings 0 0 0 0
Refer to child
Refer to child member . .
Refer to child
Refer to child member . .
217

Foreign currency term loans from banks Working capital loans from banks
Classification of borrowings [Axis]
[Member] [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Borrowings 0 0 (A) 9,860 (B) 9,147
Nature of security . . . .
Terms of repayment of term loans and other loans . . (C) As per footnote (D) As per footnote
Footnotes
(A)
Secured - at amortized cost
From Banks - Working capital facilities
In foreign currency 7427
In Indian Rupees 2433
TOTAL 9860
(B)
From Banks - Working capital facilities
In foreign currency 6814
In Indian Rupees 2333
TOTAL 9147
(C) The above borrowings are secured on 1st pari-passu basis by way of hypothecation of the Company's current assets and 2nd
pari-passu charge on all the present and future movable property, plant and equipment of the Company.
(D) The above borrowings are secured on 1st pari-passu basis by way of hypothecation of the Company's current assets and 2nd
pari-passu charge on all the present and future movable property, plant and equipment of the Company.
01/04/2018
to
31/03/2019
Disclosure of notes on borrowings explanatory [TextBlock] [See below]
218
Disclosure of notes on borrowings explanatory [Text Block]
Note 20 : Borrowings - Non-Current
As at
As at
March 31, 2019
(refer note:53)
Non-current
Foreign currency term loan from banks (refer note 1 & 2 - (i),(ii),(iv) and (v) below)
7,574 2,345
Rupee term loan from banks (refer note 1 & 2 - (iii) below)
6,700 -
Total
14,274 2,345
1.Security
First Charge on present and future movable fixed assets of the company excluding
the assets pertaining to Pilatus project which were exclusively charged to Axis
Bank
ii) Axis Bank:
Primary- Movable fixed assets and current assets of the Pilatus project both
present and future.
Collateral- Second pari-passu charge on all of the Company's movable fixed
assets and current assets including but not limited to Plant & Machinery, Book
debts, operating cash flow, receivables, commissions, revenue present and future
iii) HDFC Bank:
Primary: Plant & Machinery - Pari-passu charge on the plant & machinery specific
to the GE project
Factory Land & Building - pari-passu charge on the land and building specific of
the GE project.
iv) ICICI Bank:

First pari-passu charge on movable fixed and current assets (present & future)
pertaining to GE project
Second pari-passu charge on the movable fixed and current assets other than
assets pertaining to GE contract (present & future) of the borrower
v) Federal Bank:
First charge on Pari-passu basis over the movable fixed and current assets
(present & future) of the GE engines project of the company.
2. Terms of Repayment:
i) Kotak Mahindra Bank: USD 6,413,476 repayable in 48 equated monthly

instalments from 30th April, 2016 with a moratorium for the financial years 2014-15
and 2015-16. The outstanding loan amount payable in USD 1,603,369 as at March
31, 2019 having outstanding monthly instalments of 12.
ii) Axis Bank: USD 4,002,941 repayable in 12 equated quarterly instalments with a
219
moratorium period of 2 years from the date of first disbursement of loan, the first
instalment is to be paid from October 31, 2017. The outstanding loan payable in
USD 2,001,471 as at March 31, 2019 having outstanding quarterly instalments of
6.
iii) HDFC Bank: INR 6700 lakhs repayable in 48 equated monthly instalments with
a moratorium of 3 years from the date of first disbursement of loan, the first
instalment is to be paid from 10th Jan 2020.
iv) ICICI Bank: USD 6,785,792 repayable in 16 equated quarterly instalments with
a moratorium of 3 years from the date of first disbursement of loan, the first
instalment is to be paid from 15th August 2021.
v) Federal Bank: USD 3,497,025 repayable in 16 equated quarterly instalments

with a moratorium of 3 years from the date of first disbursement of loan, the first
instalment is to be paid from 19th February 2022.
3. Rate of Interest
Interest rate varying from 6 months LIBOR + 220 bps to 6 months LIBOR + 240
bps and interest rate swap with spread of 183 bps.
For rupee term loans from bank, interest rate is 8.85% p.a.
Note 24 : Borrowings - Current
As at
As at
March 31, 2019
(refer note:53)
Current
From banks- Working capital facilities
(a) In Foreign Currency

7,427 6,814
(b) In Indian Rupees

2,433 2,333
Total
9,860 9,147
The above borrowings are secured on 1st pari-passu basis by way of hypothecation of
the Company's current assets and 2nd pari-passu charge on all the present and future
movable property, plant and equipment of the Company.
220
[612700] Notes - Income taxes
Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(1)
Other temporary
Temporary difference, unused tax losses and unused tax credits [Axis] Temporary differences [Member] differences
[Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
Deferred tax relating to items credited (charged)
347 198 347
directly to equity
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets -2,841 -2,255 -2,841
Deferred tax liabilities -788 -396 -788
Net deferred tax liability (assets) 2,053 1,859 422 2,053
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 2,841 2,255 2,841
Net deferred tax liabilities -788 -396 -788
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
-153 1,294 -153
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
-153 1,294 -153
Deferred tax relating to items
347 198 347
credited (charged) directly to equity
Aggregated income tax relating to
components of other comprehensive -55
income
Total increase (decrease) in deferred
194 1,437 194
tax liability (assets)
Deferred tax liability (assets) at end of
2,053 1,859 422 2,053
period
Refer to child
Description of other temporary differences Refer to child member Refer to child member
member
221
Temporary difference, unused tax losses and unused tax credits [Axis] Other temporary differences [Member] Other temporary differences 1 [Member]
01/04/2017 01/04/2018 01/04/2017
to 31/03/2017 to to
31/03/2018 31/03/2019 31/03/2018
198
directly to equity
Deferred tax assets -2,255 -600 -600
Deferred tax liabilities -396 0 0
Net deferred tax liability (assets) 1,859 422 600 600
[Abstract]
Net deferred tax assets 2,255 600 600
Net deferred tax liabilities -396 0
1,294
[Abstract]
1,294
198
income
1,437 0 0
1,859 422 600 600
period
Description of other temporary differences Refer to child member Deferred Tax Asset Deferred Tax Asset
222
Other temporary Other temporary
Temporary difference, unused tax losses and unused tax credits [Axis] differences 1 Other temporary differences 2 [Member] differences 3
[Member] [Member]
01/04/2018 01/04/2017 01/04/2018
31/03/2017 to to to
31/03/2019 31/03/2018 31/03/2019
347 158
directly to equity
Deferred tax assets -505 -158 -1,736
Deferred tax liabilities 0 0 0
Net deferred tax liability (assets) 600 505 158 1,736
[Abstract]
Net deferred tax assets 505 158 1,736
Net deferred tax liabilities 0
239
[Abstract]
239
347 158
347 158 239
600 505 158 1,736
period
DFA - Transition DTA Recognised in
DFA - Transition
Description of other temporary differences impact of IND-AS
impact of IND-AS 115
Profit and Loss
115 account
223
Other temporary
Temporary difference, unused tax losses and unused tax credits [Axis] differences 3 Other temporary differences 4 [Member]
[Member]
01/04/2017 01/04/2018 01/04/2017
to to to 31/03/2017
31/03/2018 31/03/2019 31/03/2018
Deferred tax assets -1,497 0
Deferred tax liabilities 0 -178 -178
Net deferred tax liability (assets) 1,497 -178 -178 -178
[Abstract]
Net deferred tax assets 1,497 0
Net deferred tax liabilities 0 -178 -178
1,552
[Abstract]
1,552
income
1,497 0 0
1,497 -178 -178 -178
period
DTA Recognised in
Description of other temporary differences Profit and Loss Deferred Tax Lilability Deferred Tax Lilability
account
224
Temporary difference, unused tax losses and unused tax credits [Axis] Other temporary differences 5 [Member]
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Deferred tax relating to items credited (charged) directly to equity 40
Disclosure of temporary difference, unused tax losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused tax losses and unused tax credits [Line
items]
Deferred tax assets 0 0
Deferred tax liabilities -610 -218
Net deferred tax liability (assets) -610 -218
Net deferred tax assets and liabilities [Abstract]
Net deferred tax assets 0
Net deferred tax liabilities -610 -218
Deferred tax expense (income) recognised in profit or loss -392 -258
Reconciliation of changes in deferred tax liability (assets) [Abstract]
Changes in deferred tax liability (assets) [Abstract]
Deferred tax expense (income) recognised in profit or loss -392 -258
Deferred tax relating to items credited (charged) directly to equity 40
Total increase (decrease) in deferred tax liability (assets) -392 -218
Deferred tax liability (assets) at end of period -610 -218
DTL - Recognised DTL - Recognised in
Description of other temporary differences in Profit and loss Profit and loss
account account

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of income tax [TextBlock] [See below]
Major components of tax expense (income) [Abstract]
Current tax expense (income) and adjustments for current tax of prior
periods [Abstract]
Current tax expense (income) 484 65
Total current tax expense (income) and adjustments for current tax
484 65
of prior periods
Total tax expense (income) 484 65
Current and deferred tax relating to items charged or credited directly
to equity [Abstract]
Disclosure of temporary difference, unused tax losses and unused tax
credits [TextBlock]
Disclosure of temporary difference, unused tax losses and unused tax
credits [Abstract]
Net deferred tax assets and liabilities [Abstract]
Reconciliation of changes in deferred tax liability (assets)
[Abstract]
Changes in deferred tax liability (assets) [Abstract]
Reconciliation of accounting profit multiplied by applicable tax rates
[Abstract]
Accounting profit 4,043 -34
Tax expense (income) at applicable tax rate 484 65
Total tax expense (income) 484 65
Reconciliation of average effective tax rate and applicable tax rate
[Abstract]
Accounting profit 4,043 -34
Applicable tax rate 48400.00% 6500.00%
Total average effective tax rate 48400.00% 6500.00%
225
Disclosure of income tax [Text Block]
Taxation
Current tax
Current tax is determined as the amount of tax payable in respect of taxable income for the year as determined in accordance
with the applicable tax rates and the provisions of Income tax Act, 1961.
Deferred tax
Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the Financial
Statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally
recognized for all taxable temporary differences. Deferred tax assets are generally recognized for all deductible temporary
differences to the extent that it is probable that taxable profits will be available against which those deductible temporary
differences can be utilized. Such deferred tax assets and liabilities are not recognized if the temporary differences arise from the
initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable
profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no
longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets
and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset
realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax assets include Minimum Alternate Tax (“MAT”) paid in accordance with the tax laws in India, which gives future
economic benefits in the form of availability of set off against future income tax liability. Accordingly, MAT is recognized as
deferred tax asset in the Balance sheet when the asset can be measured reliably and it is probable that the future economic
benefits associated with the asset will be realized.
Current and deferred tax are recognised in profit or loss, except when they relate to items that are recognised in other
comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other
comprehensive income or directly in equity, respectively.
Note 7: Deferred tax assets/(liabilities)(net)

As at As at
Particulars March 31, March 31, 2018
2019 (refer note:53)
Deferred tax assets

Unabsorbed depreciation 155 161
Provision for employee benefits 533 415
Provision for doubtful Debts/Taxes 22 24
MAT Credit 2048 1580
Others 83 75
2841 2255
Deferred tax liabilities
Others -9 12
Discounting on provision for Warranty 18 6
Property, plant, equipment and Intangible
226
assets (including Intangible assets under 779 378

development)
-788 -396
Net deferred tax assets/ (liabilities) 2053 1859
Opening
Recognised in
Opening Balance - Effect of common Recognised Closing
Particulars profit and loss
Balance control business combinations in OCI Balance
account
(Refer note: 53)
2017-2018
Deferred tax assets
Unabsorbed depreciation 267 0 -106 0 161
Provision for employee benefits 308 47 115 -55 415
Provision for doubtful Debts/Taxes 0 0 24 0 24
Provision for liquidated damages 0 111 -111 0 0
Others 23 0 52 0 75
Derivative liability 2 0 -2 0 0
MAT credit 0 0 1580 0 1580
600 158 1552 -55 2255
MTM Gain on derivatives 0 0 12 0 12
Gain on fair valuation of current investments 0 2 -2 0 0
Discounting on provision for Warranty 0 0 6 0 6
assets (including Intangible assets under 178 -42 242 0 378
development)
178 -40 258 0 396
Net deferred tax assets/ (liabilities) 422 198 1294 -55 1859
Recognised in
Opening Transition impact of Ind AS 115 Recognised Closing
Particulars profit and loss
Balance (refer note 51) in OCI Balance
account
2018-2019
Deferred tax assets
Unabsorbed depreciation 161 0 -6 0 155
Provision for employee benefits 415 0 118 0 533
Provision for doubtful Debts/Taxes 24 0 -2 0 22
Others 75 0 8 0 83
Contract assets 0 347 -347 0 0
MAT credit 1580 0 468 0 2048
2255 347 239 0 2841
Derivatives assets 12 0 -21 0 -9
Discounting on provision for Warranty 6 0 12 0 18
assets (including Intangible assets under 378 0 401 0 779
development)
396 0 392 0 788
Net deferred tax assets/ (liabilities) 1859 347 -153 0 2053
Note:
227
7a. Reconciliation of tax expense and the

accounting profit multiplied by India’s tax
rate:
As at As at
Profit before tax 4043 -34
Tax at the Indian tax rate of 21.55%

871.2665 0
(2017-18 : 34.944%)
Tax effect of amounts which are not

deductible (taxable) in calculating taxable -684 -197
income
Adjustments:
Previously unrecognised tax assets now
recouped to reduce current tax expenses 0 474
unrecognised
Adjustments for tax credits of prior periods 0 -1515
Effect of changes in tax rates 0 10
Effect of prior period taxes 297 0
Effect of deferred tax 153 0
Tax expenses as per Financial Statements 637.2665 -1228
7b. Unused tax losses and tax credits on

which no deferred tax asset has been
created
As at As at
Unused tax losses for which no deferred tax
3013 3781
asset has been created (A)
Potential tax benefit on (A) @ 34.94%

1052.7422 1321.0814
(2017-18 : 34.94%) (B)
0 0
Potential tax benefit (B) 1052.7422 1321.0814
[611000] Notes - Exploration for and evaluation of mineral resources

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of exploration and evaluation assets [TextBlock]
Whether there are any exploration and evaluation activities No No
228
[611900] Notes - Accounting for government grants and disclosure of government assistance
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of accounting for government grants and disclosure of government
assistance [TextBlock]
Whether company has received any government grant or government assistance No No
[401100] Notes - Subclassification and notes on liabilities and assets
Other current liabilities, others [Table] ..(1)

Other current liabilities, others [Axis] 1
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Subclassification and notes on liabilities and assets [Abstract]
Disclosure of other current liabilities notes [Abstract]
Other current liabilities [Abstract]
Other current liabilities, others 617 472
Other current liabilities, others [Abstract]
Other current liabilities, others [Line items]
Statutory Liabilities Statutory Liabilities
Description of other current liabilities, others payable payable
Other current liabilities, others 617 472
Disclosure of breakup of provisions [Table] ..(1)

Classification based on current non-current [Axis] Non-current [Member] Current [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Subclassification and notes on liabilities and assets
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [Line items]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 513 320 2 4
Provision leave encashment 875 780 135 128
Total provisions for employee benefits 1,388 1,100 137 132
CSR expenditure provision 0 0 0 0
Other provisions (A) 170 (B) 63 (C) 646 (D) 282
Total provisions 1,558 1,163 783 414
229
Footnotes
(A) Provision for warranties (Refer note 29c)
(B) Provision for warranties (Refer note 29c)
(C)
Provision for claims (Refer note 29a) 169
Provision for liquidated damages (Refer note 29b) 176
Provision for warranties (Refer note 29c) 50
Provision for onerous contracts (Refer note 29d) 251
TOTAL 646
(D)
Provision for claims (Refer note 29a) 158
Provision for liquidated damages (Refer note 29b) 107
Provision for warranties (Refer note 29c) 17
Provision for onerous contracts (Refer note 29d) 0
TOTAL 282
Details of loans [Table] ..(1)

Classification of loans [Axis] Loans [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Secured considered good [Member]
[Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Loans notes [Abstract]
Disclosure of loans [Abstract]
Details of loans [Line items]
Loans , gross 0 0 0 0
Allowance for bad and doubtful loans 0 0 0 0
Total loans 0 0 0 0
Details of loans due by directors, other
officers or others [Abstract]
Loans due by directors 0 0 0 0
Loans due by other officers 0 0 0 0
Total loans due by directors, other
0 0 0 0
officers or others
Details of loans due by firms or
companies in which any director
is partner or director [Abstract]
Loans due by firms in which any director
0 0 0 0
is partner
Loans due by private companies in
0 0 0 0
which any director is director
0 0 0 0
which any director is member
Total loans due by firms or
companies in which any director 0 0 0 0
is partner or director
230

Classification of assets based on security [Axis] Unsecured considered good [Member] Doubtful [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Total loans 0 0 0 0
0 0 0 0
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0

Classification of loans [Axis] Loans to related parties [Member]
Classification of assets based on security [Axis] Secured considered good [Member] Unsecured considered good [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Total loans 0 0 0 0
0 0 0 0
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0
231

Loans given other related parties
[Member]
Classification of assets based on security [Axis] Doubtful [Member] Secured considered good [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Total loans 0 0 0 0
0 0 0 0
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0

Classification of loans [Axis] Loans given other related parties [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Total loans 0 0 0 0
0 0 0 0
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0
232

[Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Loans , gross 1,639 602 0 0
Total loans 1,639 602 0 0
0 0 0 0
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0

31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Loans , gross 1,639 602 0 0
0 0 0 0
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0
233

Classification of assets based on security [Axis] Secured considered good [Member] Unsecured considered good [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Loans , gross 0 0 1,639 602
Total loans 0 0 1,639 602
0 0 0 0
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0

Loans given other related parties
[Member]
Classification of assets based on security [Axis] Doubtful [Member] Secured considered good [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Total loans 0 0 0 0
0 0 0 0
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0
234

Classification of loans [Axis] Loans given other related parties [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Loans , gross 1,639 602 0 0
0 0 0 0
officers or others
0 0 0 0
is partner
0 0 0 0
0 0 0 0
Other non-current financial assets, others [Table] ..(1)

Classification of other non-current financial assets others [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Other non-current financial assets notes [Abstract]
Other non-current financial assets [Abstract]
Other non-current financial assets, others 488 177 5 3
Other non-current financial assets, others
[Abstract]
Other non-current financial assets, others
[Line items]
Deposits having
Deposits having
Description other non-current financial Security Deposit at Security Deposit at original maturity
original maturity more
assets, others cost cost more than 12
than 12 months
months
Other non-current financial assets, others 488 177 5 3
235
Other current financial liabilities, others [Table] ..(1)

Other current financial liabilities, others [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 1,362 417 16 20
Other current financial liabilities, others
[Abstract]
Other current financial liabilities, others
[Line items]
Payable on purchase Payable on purchase
Description of other current financial
of property, plant of property, plant and Other liabilities Other liabilities
liabilities, others and equipment equipment
Other current financial liabilities,
1,362 417 16 20
others
Other non-current assets, others [Table] ..(1)

Other non-current assets, others [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Other non-current assets notes [Abstract]
Other non-current assets [Abstract]
Other non-current assets, others 704 755 63 55
Other non-current assets, others [Abstract]
Other non-current assets, others [Line items]
Income tax
Description of other non-current assets, Income tax payments
payments (Net of Prepaid expenses Prepaid expenses
others (Net of provisions)
provisions)
Other non-current assets, others 704 755 63 55
Other non-current assets, others [Table] ..(2)

Other non-current assets, others [Axis] 3 4
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Other non-current assets notes [Abstract]
Other non-current assets [Abstract]
Other non-current assets, others 1,424 1,473 11,456 0
Other non-current assets, others [Abstract]
Other non-current assets, others [Line items]
Description of other non-current assets, Prepayment for Prepayment for
Contract Assets Contract Assets
others leasehold land leasehold land
Other non-current assets, others 1,424 1,473 11,456 0
236
Classification of inventories [Table] ..(1)

Classification of inventories [Axis] Company inventories [Member] Raw materials [Member]
01/04/2018 01/04/2017
31/03/2019 31/03/2018 to to
31/03/2019 31/03/2018
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 15,428 24,630 8,266 18,314
Goods in transit 424 370
lower of cost and net lower of cost and net
Mode of valuation realisable value realisable value

Classification of inventories [Axis] Work-in-progress [Member] Finished goods [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Inventories 6,749 5,825 385 475
Goods in transit 0 0 0 0
lower of cost and net lower of cost and net lower of cost and net lower of cost and net
Mode of valuation realisable value realisable value realisable value realisable value

Classification of inventories [Axis] Stores and spares [Member]
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Inventories 28 16
Goods in transit 0 0
valued at or below valued at or below
Mode of valuation cost cost
Other current financial assets others [Table] ..(1)

Other current financial assets others [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others 8 8 203 130
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Receivables from Receivables from Interest accrued on Interest accrued on
Description other current financial assets
Related parties Related parties (Refer Loans to related Loans to related
others (Refer Note: 46) Note: 46) parties parties
237

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
items]
Description other current financial assets Interest accrued on Interest accrued on Interest accrued on Interest accrued on
others Fixed Deposits Fixed Deposits Security Deposits Security Deposits

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Other current financial assets others 0 26 2,692 1,740
items]
Other receivables Other receivables
(includes export (includes export
incentive receivable, incentive receivable,
Description other current financial assets
Lease receivables Lease receivables receivable on receivable on
others technical assistance technical assistance
and management and management
services services
Other current financial assets others 0 26 2,692 1,740
Other current assets others [Table] ..(1)

Other current assets others [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Other current assets notes [Abstract]
Other current assets [Abstract]
Other current assets, others 1,782 1,049 49 50
Other current assets others [Abstract]
Other current assets others [Line items]
Balances with Balances with
Prepayment of Prepayment of
Description of other current assets others Government Government
Leasehold land Leasehold land
Authorities Authorities
Other current assets, others 1,782 1,049 49 50
238

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Other current assets, others 571 450 2,207 0
Description of other current assets others Prepaid expenses Prepaid expenses Contract Assets Contract Assets
Other current assets, others 571 450 2,207 0

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Other current assets, others 0 44 0 -44
Amount paid to Amount paid to VAT Less: Provision for Less: Provision for
Description of other current assets others VAT Authorities Authorities Doubtful recovery Doubtful recovery
Other current assets, others 0 44 0 -44
Details of advances [Table] ..(1)

Classification of advances [Axis] Advances [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 4,198 2,006 4,198 2,006
Details of advance due by directors other
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
0 0 0 0
Total advance due by firms or
239

Classification of advances [Axis] Capital advances [Member] Advances given suppliers [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Advances 4,198 1,990 0 16
0 0 0 0
officers or others
0 0 0 0
director is partner
0 0 0 0
0 0 0 0

Classification of advances [Axis] Advances [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Advances 710 3,366 710 3,366
0 0 0 0
officers or others
0 0 0 0
director is partner
0 0 0 0
0 0 0 0
240

Classification of advances [Axis] Advances given suppliers [Member] Advances given employees [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Advances 672 3,310 38 56
0 0 0 0
officers or others
0 0 0 0
director is partner
0 0 0 0
0 0 0 0
241
Subclassification of trade receivables [Table] ..(1)

[Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line
items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 127 73 0 0
Allowance for bad and doubtful debts 0 0 0 0
Total trade receivables 127 73 0 0
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Total trade receivables due by
0 0
Details of trade receivables due by firms
or companies in which any director is
partner or director [Abstract]
Trade receivables due by firms in
0 0
which any director is partner
Trade receivables due by private
companies in which any director is 0 0
director
member
firms or companies in which any 0 0
director is partner or director
242

31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
items]
Trade receivables, gross 127 73 0 0
Total trade receivables 127 73 0 0
[Abstract]
Trade receivables due by directors 0 0 0 0
Trade receivables due by other officers 0 0 0 0
0 0 0 0
0 0 0 0
companies in which any director is 0 0 0 0
director
member
firms or companies in which any 0 0 0 0
243

[Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
items]
Trade receivables, gross 8,858 10,815 0 0
Total trade receivables 8,794 10,700 0 0
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
0 0
0 0
director
member
firms or companies in which any 0 0
244

31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
items]
Trade receivables, gross 8,794 10,700 64 115
Total trade receivables 8,794 10,700 0 0
[Abstract]
Trade receivables due by directors 0 0 0 0
Trade receivables due by other officers 0 0 0 0
0 0 0 0
0 0 0 0
director
member
firms or companies in which any 0 0 0 0
Other non-current liabilities others [Table] ..(1)

Other non-current liabilities others [Axis] 1
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Other non-current liabilities [Abstract]
Other non-current liabilities others 12 12
Other non-current liabilities others [Abstract]
Other non-current liabilities others [Line items]
Provision for Provision for Income
Description of other non-current liabilities others Income Tax Tax
Other non-current liabilities others 12 12
245

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of subclassification and notes on liabilities and assets
explanatory [TextBlock]
Disclosure of notes on trade receivables explanatory [TextBlock] [See below]
Disclosure of notes on other non-current financial assets [TextBlock] [See below]
Derivative assets 28 35
Total other non-current financial assets 521 215
Disclosure of notes on other non-current assets explanatory Textual information (52)
Advances, non-current 4,198 2,006
Total other non-current assets (A) 17,845 (B) 4,289

Disclosure of inventories Explanatory [TextBlock] [See below]
Description of accounting policy for measuring inventories Textual information (54)
Disclosure of notes on cash and bank balances explanatory [TextBlock] [See below]
Fixed deposits with banks 0 0
Other balances with banks (C) 761 (D) 1,362

Total balance with banks 761 1,362
Cash on hand 0 0
Others 0 1,464
Total cash and cash equivalents 761 2,826
Bank balance other than cash and cash equivalents 3 7,234
Total cash and bank balances 764 10,060
Remittance in
Remittance in
Nature of other cash and cash equivalents Transit
Transit
Balances held with banks to extent held as margin money 0 500

Total balances held with banks to extent held as
margin money or security against borrowings, 0 500
guarantees or other commitments
Bank deposits with more than 12 months maturity 0 0
Disclosure of notes on other current financial assets explanatory Textual information (56)
Unbilled revenue 761 59
Security deposits 145 183
Total other current financial assets 3,814 2,241
Disclosure of notes on other current assets explanatory [TextBlock] [See below]
Advances, current 710 3,366
Total other current assets 5,319 4,915
Disclosure of notes on other non-current financial liabilities Textual information (58)
explanatory [TextBlock] [See below]
Total other non-current financial liabilities 0 0
Disclosure of notes on provisions explanatory [TextBlock] [See below]
Provision for
Provision for warranties (non-current
Nature of other provisions warranties (non-current a n d
and current) current)
Disclosure of notes on other non-current liabilities explanatory Textual information (60)

Advances received 10,426 10,498
Total other non-current liabilities (E) 10,438 (F) 10,510

Disclosure of notes on other current financial liabilities Textual information (61)
explanatory [TextBlock] [See below]
Current maturities of long-term debt 2,032 1,911
246
Interest accrued on borrowings (G) 72 (H) 28

Interest accrued on public deposits 0 0
Interest accrued others 0 0
Unpaid dividends 0 0
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Debentures claimed but not paid 0 0
Public deposit payable, current 0 0
Total other current financial liabilities 3,482 2,376
Disclosure of other current liabilities notes explanatory [TextBlock] [See below]
Advance received from customers 3,403 11,186
Total other advance 3,403 11,186
Current liabilities portion of share application money pending
0 0
allotment
Total other current liabilities 4,020 11,658
Footnotes
(A)
TOTAL 17845
(B)
TOTAL 4289
(C)
Balances with Bank
In Current Accounts 301
In EEFC Accounts 460
TOTAL 761
(D)
Balances with Bank
In Current Accounts 441
In EEFC Accounts 921
TOTAL 1362
(E)
TOTAL 10438
(F)
TOTAL 10510
(G)
Interest accrued and due on borrowings 25
Interest accrued but not due on borrowings 47
TOTAL 72
(H)
Interest accrued and due on borrowings 21
Interest accrued but not due on borrowings 7
TOTAL 28
247
Disclosure of notes on trade receivables explanatory [Text Block]

i) The average credit period on sales of goods is generally 30 to 90 days. No interest is recovered on trade receivables for payments received after
the due date.
ii) The credit period towards trade receivables generally varies for each customer.
iii) The concentration of risk with respect to trade receivables is reasonably low based on past trend of the Company in recoverability of dues and
very immaterial amount of bad debts written off, except few normal delays in recoverability
Disclosure of notes on other non-current financial assets [Text Block]
Note 6 : Other non-current financial assets
As at
As at
March 31, 2019
(refer note:53)
Security Deposit at cost 488 177
Deposits having original maturity more than 12 months 5 3
Derivative assets - FVTPL 28 35
Total 521 215
248
Disclosure of notes on other non-current assets explanatory [Text Block]
Note 9 : Other non-current assets
As at
As at
March 31, 2019
(refer note:53)
Capital advances 4,198 1,990
Other trade/commercial advances - 16
Prepaid expenses 63 55
Prepayment for leasehold land * 1,424 1,473
Contract assets 11,456 -
Total 17,141 3,534
* In respect of land admeasuring 14.5 acres, lease deed is pending for execution.
Disclosure of inventories Explanatory [Text Block]
Note 10 : Inventories
As at
As at
March 31, 2019
(refer note:53)
Raw material * 8,266 18,314
Work-in-progress 6,749 5,825
Finished goods 385 475
Stores, tools, spares and consumables 28 16
Total 15,428 24,630
* Includes Raw materials in transit Rs. 424 lakhs (March 31, 2018: Rs. 370 lakhs)
249
Description of accounting policy for measuring inventories [Text Block]
Inventories
Stores, tools, spares and consumables are valued at or below cost. Inventories are valued at lower of cost and net realisable
value after providing for obsolescence and other losses, where considered necessary. The cost of inventories comprises cost of
raw materials and components, and other costs incurred in bringing the inventories to their present location and condition. The
method of determining cost of various categories of inventories are as follows:
250
Disclosure of notes on cash and bank balances explanatory [Text Block]
Note 13 : Cash and cash equivalents
As at
As at
March 31, 2019
(refer note:53)
Cash on Hand * *
Balance with banks
(i) In current accounts 301 441
(ii) In EEFC accounts 460 921
Deposits having original maturity less than 3 months - -
Remittance in Transit - 1,464
Total 761 2,826
* amount less than Rs. One lakh
Note 14 : Other bank balances
As at
As at
March 31, 2019
(refer note:53)
Deposits having original maturity more than 3 Months but less than 12 months 3 6,734
Margin Money deposit - 500
Total 3 7,234
251
Disclosure of notes on other current financial assets explanatory [Text Block]
Note 16 : Other current financial assets
As at
As at
March 31, 2019
(refer note:53)
Receivables from Related parties (refer note: 46)

8 8
Security deposit
145 183
Interest accrued on:
Loans to related parties

203 130
Fixed deposits
1 95
Security deposits
4 -
Unbilled revenue
761 59
Lease receivables
- 26
Other receivables (includes export incentives receivable, receivables on account of technical

assistance and management services) 2,692 1,740
Total
3,814 2,241
252
Disclosure of notes on other current assets explanatory [Text Block]
Note 17 : Other current assets
As at
As at
March 31, 2019
(refer note:53)
Unsecured, Considered Good
Employee advances 38 56
Other trade/commercial advances* 672 3,310
Balances with Government Authorities (refer note below) 1,782 1,049
Prepayment for leasehold land 49 50
Contract assets 2,207 -
Unsecured, Considered Doubtful
Amounts paid to VAT authority - 44
Less: Provision for doubtful recovery - (44)
Total 5,319 4,915
* includes advance paid to related parties (refer note no. 46)
Balances with Government authorities
As at
As at
March 31, 2019
(refer note:53)
(i) GST / Service tax credit receivable 1,782 1,048
(ii) VAT receivable - 1
Total 1,782 1,049
253
Disclosure of notes on other non-current financial liabilities explanatory [Text Block]
Note 20 : Borrowings
As at
As at
March 31, 2019
(refer note:53)
Non-current
Foreign currency term loan from banks (refer note 1 & 2 - (i),(ii),(iv) and (v)
below) 7,574 2,345
Rupee term loan from banks (refer note 1 & 2 - (iii) below)
6,700 -
Total
14,274 2,345
1.Security
First Charge on present and future movable fixed assets of the company
excluding the assets pertaining to Pilatus project which were exclusively
charged to Axis Bank
ii) Axis Bank:
Primary- Movable fixed assets and current assets of the Pilatus project both
present and future.
Collateral- Second pari-passu charge on all of the Company's movable fixed
assets and current assets including but not limited to Plant & Machinery, Book
debts, operating cash flow, receivables, commissions, revenue present and
future
iii) HDFC Bank:
Primary: Plant & Machinery - Pari-passu charge on the plant & machinery
specific to the GE project
Factory Land & Building - pari-passu charge on the land and building specific of
the GE project.
iv) ICICI Bank:

First pari-passu charge on movable fixed and current assets (present & future)
pertaining to GE project
Second pari-passu charge on the movable fixed and current assets other than
assets pertaining to GE contract (present & future) of the borrower
v) Federal Bank:
First charge on Pari-passu basis over the movable fixed and current assets
(present & future) of the GE engines project of the company.
i) Kotak Mahindra Bank: USD 6,413,476 repayable in 48 equated monthly

instalments from 30th April, 2016 with a moratorium for the financial years
2014-15 and 2015-16. The outstanding loan amount payable in USD 1,603,369
as at March 31, 2019 having outstanding monthly instalments of 12.
ii) Axis Bank: USD 4,002,941 repayable in 12 equated quarterly instalments

with a moratorium period of 2 years from the date of first disbursement of loan,
254
the first instalment is to be paid from October 31, 2017. The outstanding loan
payable in USD 2,001,471 as at March 31, 2019 having outstanding quarterly
instalments of 6.
iii) HDFC Bank: INR 6700 lakhs repayable in 48 equated monthly instalments
instalment is to be paid from 10th Jan 2020.
iv) ICICI Bank: USD 6,785,792 repayable in 16 equated quarterly instalments

instalment is to be paid from 15th August 2021.
v) Federal Bank: USD 3,497,025 repayable in 16 equated quarterly instalments

instalment is to be paid from 19th February 2022.
3. Rate of Interest
Interest rate varying from 6 months LIBOR + 220 bps to 6 months LIBOR + 240
bps and interest rate swap with spread of 183 bps.
Note 21 : Provisions
As at
As at
March 31, 2019
(refer note:53)
Provision for employee benefits (refer note 48)
Gratuity
513 320
Compensated absences
875 780
Provision for Warranties (refer note below 29c)

170 63
Total
1,558 1,163
255
Disclosure of notes on provisions explanatory [Text Block]
As at
As at
March 31, 2019
(refer note:53)
Gratuity 513 320
Compensated absences 875 780
Provision for Warranties (refer note below 29c) 170 63
Total 1,558 1,163
As at
As at
March 31, 2019
(refer note:53)
Provision for compensated absences (refer note 48) 135 128
Provision for gratuity (refer note 48) 2 4
Provision for claims (refer note below 29a) 169 158
Provision for liquidated damages (refer note below 29b) 176 107
Provision for warranties (refer note below 29c) 50 17
Provision for onerous contracts (refer note below 29d) 251 -
Total 783 414
Note 29a: Provision for claims
As at
As at
March 31, 2019
(refer note:53)
Opening balance 158 68
Add: additions made during the year 14 97
Less: utilized/reversals made during the year (3) (7)
256
Total 169 158
Note 29b: Provision for liquidated damages
As at
As at
March 31, 2019
(refer note:53)
Less: utilized/reversals made during the year (17) (323)
Total 176 107
Note 29c: Provision for warranties (non-current and current)
As at
As at
March 31, 2019
(refer note:53)
Opening balance 80 -
Less: utilized/reversals made during the year (4) -
Total 220 80
Out of the above -
Current 50 17
Non-current 170 63
Note 29d: Provision for Onerous Contracts
As at
As at
March 31, 2019
(refer note:53)
Opening balance - -
Add: additions made during the year 251
Total 251 -
257
Disclosure of notes on other non-current liabilities explanatory [Text Block]
Note 23 : Other non-current liabilities
As at
As at
March 31, 2019
(refer note:53)
Advance from customers 10,426 10,498
Total 10,426 10,498
Disclosure of notes on other current financial liabilities explanatory [Text Block]
Note 26 : Other current financial liabilities
As at
As at
March 31, 2019
(refer note:53)
Current maturities of long term debt 2,032 1,911
Interest accrued and due on borrowings 25 21
Interest accrued but not due on borrowings 47 7
Payables on purchase of property, plant and equipment 1,362 417
Other liabilities 16 20
Total 3,482 2,376
258
Disclosure of other current liabilities notes explanatory [Text Block]
Note 27 : Other current liabilities
As at
As at
March 31, 2019
(refer note:53)
Advance from customers 3,403 11,186
Statutory liabilities payable 617 472
Total 4,020 11,658
259
[401200] Notes - Additional disclosures on balance sheet

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of additional balance sheet notes explanatory [TextBlock] [See below]
Description of estimates and critical accounting estimates explanatory Textual information (64)
Additional balance sheet notes [Abstract]
Contingent liabilities and commitments [Abstract]
Classification of contingent liabilities [Abstract]
Total contingent liabilities 0 0
Classification of commitments [Abstract]
Nature of other commitments [See below]
Total contingent liabilities and commitments 0 0
Details regarding dividends [Abstract]
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
shareholders
Disclosure of information on derivative instruments [Abstract]
Disclosure of category wise quantitative data about outstanding Textual information (66)
derivative instruments explanatory [TextBlock] [See below]
Details of deposits [Abstract]
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Details of share application money received and paid [Abstract]
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year [pure] 0 [pure] 0
Number of person share application money received during year [pure] 0 [pure] 0
Number of person share application money paid as at end of year [pure] 0 [pure] 0
Number of person share application money received as at end of year [pure] 0 [pure] 0
Share application money received and due for refund 0 0
Details regarding cost records and cost audit[Abstract]
Details regarding cost records and cost audit explanatory [TextBlock] [See below]
Details regarding cost records [Abstract]
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, Yes Yes
2014
Aircraft
If yes, Central Excise Tariff Act, heading in which product/ Structural
Aircraft
service is covered under cost records Assembly
Structural Assembly
Details regarding cost audit [Abstract]

Whether audit of cost records of company has been mandated
Yes Yes
under Rules specified in SN 1
Aircraft Aircraft
If yes, Central Excise Tariff Act, heading in which product/ Structural Structural
service is covered under cost audit Assembly Assembly
Net worth of company 0 0

Details of unclaimed liabilities [Abstract]
Unclaimed share application refund money 0 0
260
Unclaimed matured debentures 0 0

Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Financial parameters balance sheet items [Abstract]
Investment in subsidiary companies 67,446 13,611
Investment in government companies 0 0
Amount due for transfer to investor education and protection fund
0 0
(IEPF)
Gross value of transactions with related parties 0 0
Number of warrants converted into equity shares during period [pure] 0 [pure] 0
Number of warrants converted into preference shares during period [pure] 0 [pure] 0
Number of warrants converted into debentures during period [pure] 0 [pure] 0
Number of warrants issued during period (in foreign currency) [pure] 0 [pure] 0
Number of warrants issued during period (INR) [pure] 0 [pure] 0
261
Disclosure of additional balance sheet notes explanatory [Text Block]

Notes forming part of the Standalone Financial Statements
(in Indian Rupees (Lakhs) , unless otherwise stated)
Note 40: Contingent liabilities and Commitments

As at
As at
March 31,
2018
2019
(refer note:53)
Contingent liabilities
(a) Claims against the Company not acknowledged as debt (refer note 44) 593 593
(b) Taxation matters:
- Where the Company is in the appeal
(i) Value Added Tax (DVAT) 181 181
(ii) Income - Tax 4 0
- Where the Department is in the appeal
Income - Tax 111 111
(c) Others
Amount not
(i) Customer claims (refer note (i) below) 0
ascertainable
(ii) Others 318 0
Commitments
Estimated amount of capital contracts remaining to be executed (net of advance)
- tangible assets 6437 4008
- intangible assets 128 223
(i) During the year ended March 31, 2018, the Company terminated an agreement with a
customer and entered into a standstill agreement with the customer to settle the claims
amicably. The Company had raised a claim for USD 25.35 Million on the customer who had
also raised a claim on the Company aggregating Euro 26 Million. The Company had
provided for all the related assets/ receivables and disclosed the same as Exceptional item
in the Statement of Profit and Loss during the year ended March 31, 2018.
Subsequent to the year end, all claims were settled between the customer and the
Company. In pursuance of the settlement agreement, compensation for damages was
received by the Company and accordingly, advances from customers, provision for vendor
claims, provision for inventory etc, were adjusted after returning the covered materials and
tools and the net impact of Rs. 4,307 lakhs (credit) was accounted by the Company in the
Statement of Profit and Loss.
Note 40(a) - Proposed mergers and acquisitions
(i) The Tata Power Company Limited – Strategic Engineering Division (“SED”)
The Company has entered into scheme/arrangement to acquire Strategic Engineering
Division of Tata Power Company Limited for purchase consideration of Rs. 49,600 lakhs
(excluding contingent consideration of Rs. 119,000 lakhs) and the scheme has been filed to
get requisite approvals with respective regulatory authorities.
(ii) TATA Motors Limited – Defence undertaking

The Company has entered into the scheme/arrangement to acquire Defence undertaking of
TATA Motors Limited for purchase consideration of Rs. 10,000 lakhs (excluding contingent
consideration of Rs. 175,000 lakhs) and the scheme has been filed to get requisite
approvals with respective regulatory authorities.
(iii) TATA Advanced Materials Limited

During the year, the Board of Directors have approved the acquisition of shares of TATA
Advanced Materials Limited from TATA Industries Limited for purchase consideration of Rs.
81,200 lakhs vide share purchase agreement dated May 09, 2018.
262
(iv) Tata Advanced Systems Limited (TASL) entered a share purchase agreement dated
May 29, 2018 with Tata Motors Limited (TML) to acquire shares of TAL Manufacturing
Solutions Limited (TAL) and acquired the shares on March 29, 2019. As per the aforesaid
agreement, TASL should replace the corporate guarantee provided by TML to The Boeing
Company (Boeing) on behalf of TAL for USD 100 million.
As part of TAL acquistion TML has agreed to continue the guarantee of USD 100 million,
given to Boeing on behalf of TAL till the same is replaced by TASL post TAL acquisition.
TASL has entered into an indemnity agreement on March 29, 2019 with TML for USD 100
million to indemnify for any claims on TML by Boeing till the guarantee is replaced by TASL.
Note 41: Disclosures required under Section 22 of the Micro, Small and Medium Enterprises
Development Act, 2006
As at
As at
March 31,
2018
2019
(refer note:53)
Principal amount due to suppliers under MSMED Act at the year end. 244 447
Interest accrued and due to suppliers under MSMED Act on the above amount, unpaid at
- -
the year end.
Payment made to suppliers (other than interest) beyond the appointed date during the year - -
Interest paid to suppliers under section 16 of MSMED Act during the year - -
Interest due and payable to suppliers under MSMED Act for payments already made - -
Interest accrued and not paid to suppliers under MSMED Act up to the year end. - -

For the year
For the year
ended
ended
March 31,
2018
2019
(refer note:53)
Profit for the year ended 3406 1194
Weighted average number of equity shares (Nos.)* 552036849.11 521440962.50
Note 43a : CSR expenditure

Expenses incurred on Corporate Social Responsibility (CSR) programs under Section 135
of Companies Act 2013 are charged to the Statement of Profit and Loss under other
expenses (Note: 38) Rs. 19 lakhs (March 31, 2018: Rs. 26 lakhs).
Note 43b : Intangible under development
The Company has carried out certain development activities related to:
(a) design, development and manufacture of Unmanned Aerial Systems under Airborne
Platforms Program
(b) develop various prototype systems to cater to the requirements of Ministry of Defence.
On completion of such development activities, the same have been capitalised as
"Technical Know-How" and the same have been disclosed under the head " Intangibles" in
Note 3B. The Management being of the view that the aforesaid development activities shall
provide economic benefits to the Company in near future, the balance expenditure
aggregating to Rs. 4,431 lakhs for aforesaid development activities have been allocated to
cost of “Intangible Assets Under Development” and are carried forward for future
capitalisation.
For the year
For the year
ended
ended
March 31,
2018
2019
(refer note:53)
263

Add: transferred from Statement of Profit and Loss during the year
Salaries and wages 1307 812
Materials consumed 475 235
Direct Services 457 0
Rent 69 69
Power and fuel 10 16
Depreciation (refer note: 37) 112 19
Other expenses 135 500
4856 2999
Less: Intangible asset capitalised during the year 425 708
Closing balance* 4431 2291
* Intangible assets under development also includes acquired software pending deployment.
Note 44:
The Company received a notice from Telangana State Industrial Infrastructure Corporation
(TSIIC) of Rs. 593 lakhs (as at March 31, 2018 - Rs. 593 lakhs) payable for the land
reserved and allotted to the Company at Aerospace and Precision Engineering Special
Economic Zone at Adibatla, Hyderabad. However, the Company is contesting the notice and
is of the opinion that there would be no liability in this regard.
Note 45: Operating lease

Details of leasing arrangements
As Lessee
The Company has entered into an operating leases, lease expenses recognised in the
statement of Profit and Loss as at March 31, 2019: Rs. 475 lakhs (March 31, 2018: Rs. 292
lakhs)
(i) Operating Lease Obligations
As at
As at
March 31,
2018
2019
(refer note:53)
Future minimum lease payments
not later than one year 639 277
later than one year but not later than 5 years 2504 607
later than 5 years 3831 1949
(ii) Disclosure in Respect of Assets given on Finance Lease:

Later
than
one
year
Not later than
Particulars Total but
1 year
less
than
5
years
Gross Investment 0 0 0
25 25 0
Less: Unearned Finance Income 0 0 0
2 2 0
Present Value of Minimum Lease Rental 0 0 0
23 23 0

Notes forming part of Standalone Financial Statements
264
Note 49: Capital Management

The Company manages its capital to ensure that the Company will be able to
continue as going concern while maximising the return to stakeholders through
the optimisation of the debt and equity balance. Further, the Company ensures
optimal credit risk profile to maintain/enhance credit rating. The Company is not
exposed to any externally imposed capital requirement. The capital structure of
the Company consists of debt, equity and other reserves of the Company. The
Company maintains its financial framework to support the pursuit of value growth
for shareholders, while ensuring a secure financial base.
The Company's risk management committee reviews the capital structure of the
company on an annual basis and determines the amount of capital required on
the basis of annual business plan coupled with long term and short term strategic
investment and expansion plans. As a part of this review, the risk management
committee considers the loss of capital and risks associated with each class of
capital. The funding needs are met through cash generated from operations,
long term and short term bank borrowings. The Company monitors the capital
structure on the basis of net debt to equity ratio and maturity profile of the overall
debt portfolio of the Company.
The table below summarises the net debt, Equity and net debt to equity ratio of
the Company
As at
As at March 31,
2019 (refer
note:53)
Long term borrowings 14274 2345
Current maturities of long term borrowings 2032 1911
Short term borrowings 9860 9147
Cash and cash equivalents -761 -2826
Other bank balances -3 -7234
Net Debt (A) 25402 3343
Total Equity (B)* 115615 59518
Net debt to equity ratio (times) (A/B) 0.22 0.06

* Includes share application money received on March 29, 2019 for Rs 53,335
lakhs pending allotment
Note 50: Financial Instruments - Fair Value & Financial Risk Management
50.1 Financial instruments by category
Carrying
amounts
As at
March
As at
31,
Particulars Hierarchy March 31,
2018
2019
(refer
note:53)
Financial assets measured at fair value
Derivative assets Level 2 28 35
Financial assets measured at cost

Investments Level 2 93110 39275
Financial assets measured at amortised cost

Investments Level 2 * *
Loan to related parties Level 2 1639 602
Security deposit Level 2 633 360
265
Deposits having original maturity more than 12 months Level 2 5 3

Trade receivables Level 2 8921 10773
Cash and cash equivalents Level 2 761 2826
Other bank balances Level 2 3 7234
Receivables related parties Level 2 8 8
Interest accrued on security deposit Level 2 4 0
Interest accrued on loan to related parties Level 2 203 130
Interest accrued on fixed deposit Level 2 1 95
Unbilled revenue Level 2 761 59
Lease receivables Level 2 0 26
Other receivables Level 2 2692 1740
Total financial assets 108769 63166
Financial liabilities measured at amortised cost

Long term borrowings Level 2 14274 2345
Short term borrowings Level 2 9860 9147
Trade payables Level 2 11082 11523
Current maturities of long term debt Level 2 2032 1911
Payable on purchase of fixed assets Level 2 1362 417
Interest accrued and due on borrowings Level 2 25 21
Interest accrued but not due on borrowings Level 2 47 7
Other liabilities Level 2 16 20
Total financial liabilities 38698 25391
Carrying amounts of cash and cash equivalents, trade receivables, trade

payables, other financial assets and liabilities as at March 31, 2019 and March
31, 2018 approximate their fair values because of their short-term nature.
50.2 Valuation techniques and significant unobservable inputs in measuring level
2 fair values
Financial instruments measured at fair value - Interest rate swaps

Significant
inputs
Swap models : the fair value is calculated as the present value of the estimated
future cash flows. Estimates of future floating-rate cash flows are based on
quoted swap rates, futures prices and interbank borrowing rates. Estimated cash Not
flows are discounted using a yield curve constructed from similar sources and applicable
which reflects the relevant benchmark interbank rate used by market participants
for this purpose when pricing interest rate swaps.
Financial instruments measured at amortised cost - borrowings

Significant
inputs
Discounted cash flows: the valuation model considers the present value of
Not
expected payments, discounted using the relevant risk-adjusted discount rate at
applicable
each reporting date.
50.3 Financial Risk Management

50.3.1 Objective
In the course of its business, the Company is exposed primarily to a number of
different financial risks arising from natural business exposure as well as its use
of financial instruments including market risks (relating to interest rates and
foreign currency exchange rate) , credit risk and liquidity risk. The exposure to
these risks and the companies risk management have been summarised as
below :
266
50.3.2 Market Risk

Market risk is the risk of any loss in future earnings, in realisable fair values or in
future cash flows that may result from a change in the price of a financial
instrument. The value of a financial instrument may change as a result of
changes in interest rates, foreign currency exchange rates, equity price
fluctuations, liquidity and other market changes. Future specific market
movements cannot be normally predicted with reasonable accuracy. The
Company is exposed to the following significant market risks:
i) Foreign currency risk
ii) Interest rate risk
50.3.2.1 Foreign Currency Risk Management

The company is exposed to foreign currency risk to the extent there is a
mismatch between the currency in which sales, purchases, receivables and
borrowings are denominated and the functional currency of the company. The
fluctuation in foreign currency exchange rates may have a potential impact on the
statement of profit and loss and equity, where any transaction references more
than one currency or where assets/liabilities are denominated in a currency other
than the functional currency of the Company.
Considering the economic environment in which the company operates, the
functional currency of the company is determined as Indian Rupees and the
exchange risk primarily relates to fluctuation of USD and other currencies against
the company's functional currency. The company, as per its risk management
strategy, evaluates its overall currency exposure and tries to ensure that its net
exposure is kept at an acceptable level.
(Amount
Exposure to foreign currency risk in
Lakhs)
As at
March
As at
31,
Particulars Currency March 31,
2018
2019
(refer
note:53)
Assets:
EEFC accounts in foreign currency USD 7 14
Receivables CHF 0 *
Receivables USD 72.06821 98
Liabilities:
Packing Credit facilities in foreign currency USD -107 -91
Foreign Currency Term loans USD -139 -65
Buyers Credit facilities in Foreign Currency USD 0 -14
Payables USD -59 -57.16
Payables EURO -2 -4
Payables GBP * *
Payables JPY -6 0
Payables CHF -3 0
Interest accrued & due on loans USD * *
Interest Accrued but not due on Loans USD * 0
* Amount less than one lakh
The INR equivalents of the above foreign currency exposure is as under
As at
March
As at
31,
Particulars Currency March 31,
2018
2019
(refer
note:53)
Assets:
EEFC accounts in foreign currency USD 460 921
267
Receivables USD 5001 6387

Receivables CHF 0 7
Liabilities:
Packing Credit facilities in foreign currency USD -7426 -5912
Foreign Currency Term loans USD -9606 -4256
Buyers Credit facilities in Foreign Currency USD 0 -902
Payables USD -4001.735469 -3286
Payables EURO -186.3435102 -341
Payables JPY -3.58164576 *
Payables GBP -25.63659602 0
Payables CHF -177.6455251 0
Interest accrued & due on loans USD -25 -21
Interest Accrued but not due on Loans USD -47 0
* Amount less than Rs. One lakh
Sensitivity analysis
The company's exposure to foreign currency mainly arises on account of
transactions undertaken in currency other than its functional currency viz. USD,
Euro, CHF and GBP.
Method and assumptions used in preparing sensitivity analysis

The following table details the company's sensitivity to 10% increase and
decrease in USD and other foreign currencies against the company's functional
currency. 10% represents the sensitivity rate used when reporting foreign
currency risk internally to the key managerial personnel and represents
management's assessment of the reasonably possible change in the foreign
exchange rates. The sensitivity analysis considers only outstanding foreign
currency denominated monetary items and adjusts their translation at the year
end for a 10% change in foreign currency rate.
A negative number below indicates a decrease in profit when the USD and other
foreign currencies strengthen against the functional currency. For a 10%
weakening of INR and other foreign currencies against the functional currency,
there would be a comparable positive impact on the profit.
This analysis assumes that all other variables, in particular interest rates, remain
constant.
March 31, March 31,

Particulars
2019 2018
On Equity as at the end of the reporting period
Impact of INR 10% strengthening against US Dollar 1564.47 707.00
Impact of INR 10% strengthening against other currencies 38.96 34.10
Impact of INR 10% weakening against US Dollar -1564.47 -706.90

Impact of INR 10% weakening against other currencies -38.96 -34.10
On profit or loss for the year

Impact of INR 10% strengthening against US Dollar 1564.47 707.00
Impact of INR 10% strengthening against other currencies 38.96 34.10
Impact of INR 10% weakening against US Dollar -1564.47 -706.90

Impact of INR 10% weakening against other currencies -38.96 -34.10
Note: Other currencies include Euro , Great Britain Pound ("GBP"), Swiss Franc
("CHF")
In management's opinion, the sensitivity analysis is unrepresentative of the
268
inherent foreign exchange risk because the exposure at the end of the reporting
period doesnot represent the exposure during the year.
50.3.2.2 Interest Rate Risk Management

The Company draws working capital demand loans, avails cash credit, foreign
currency borrowings including buyers credit, Foreign Currency Term loans
(FCTL), Packing Credit etc. for meeting its funding requirements.
The company 's borrowings primarily carry a variable rate of interest as interest
rates on these borrowings are exposed to changes in respective benchmark
rates. The Company manages the interest rate risk by maintaining appropriate
mix/portfolio of the borrowings. Interest rate risk is measured by using the cash
flow sensitivity for changes in variable interest rates. Any movement in the
reference rates could have an impact on the Company’s cash flows as well as
costs. The company, as a part of its risk management strategy, has entered into
an interest rate swap to fix its interest rate on one of its foreign currency loans.
If interest rate had been 100 basis points higher/lower and all other variables
were held constant, the company's profit for the period ended March 31, 2019
would decrease/increase by Rs. 198 lakhs (March 31, 2018 Rs. 131 lakhs).
50.3.2.3 Derivative contracts (Interest Rate Swap) outstanding as at Balance

Sheet date:
The company has entered into Interest Rate Swaps (Derivatives) to hedge foreign
currency exposure w.r.t. variable component in the Interest rate (i.e. 6months
LIBOR) of foreign currency term loans.
As at
As at March
No of March 31,
Particulars Buy / Sell
Contracts 31, 2018
2019 (refer
note:53)
Interest Rate Swaps:
i) Kotak Bank
a) Outstanding notional Principal amount - in USD (in millions) 1 Buy 1.60 3.21
b) Outstanding notional principal amount - in INR (in lakhs) 1109.07 2086.00
ii) Axis Bank

iii) ICICI Bank

50.4 Credit Risk Management

Credit risk refers to the risk that counterparty will default on its contractual
obligations resulting in a financial loss. The company has adopted a policy of only
dealing with creditworthy counterparties and obtaining sufficient collateral, when
appropriate, as a means of mitigating the risk of financial loss from default. The
company regularly monitors its counterparty limits by reviewing the outstanding
balance and ageing of the same, as case to case basis.
The credit risk on cash and bank balances, derivative financial instruments is
limited because the counter parties are banks with high credit rating assigned and
credit worthy banking institutions.

269
50.5 Liquidity Risk Management

Liquidity risk refers to the risk that the Company cannot meet its financial
obligations. The objective of liquidity risk management is to maintain
sufficient liquidity and ensure that funds are available for use as per
requirements.
The Company has obtained fund and non-fund based working capital lines
from various banks. The Company invests its surplus funds in bank
deposits which are highly liquid and carry no or low market risk.
The table below provides details regarding the contractual maturities of

financial liabilities including estimated interest payments as
at March 31, 2019:
More
Less Between Between
Carrying Contractual than
Particulars than 1 to 2 2 to 5
amount cash flows 5
1 year years years
years
Non-derivative financial liabilities
Long term borrowings 14274 14274 0 462 8356 5456
Current maturities of long term borrowings 2032 2032 2032 0 0 0
Short term borrowings 9860 9860 9860 0 0 0
Trade payables 11082 11082 11082 0 0 0
Payable on purchase of fixed assets 1362 1362 1362 0 0 0
Interest accrued and due on borrowings 25 25 25 0 0 0
Interest accrued but not due on borrowings 47 47 47 0 0 0
Other liabilities 16 16 16 0 0 0
38698 38698 24424 462 8356 5456
Carrying
Particulars
amount
Derivative financial assets
Interest rate swap 28
Non-derivative financial assets

Loan to related parties 1639
Non Interest Bearing

Investments 93110
Trade receivables 8921
Cash and cash equivalents 761
Receivable from related parties 8
Interest on security deposit 4
Interest on loan to related parties 203
Interest on fixed deposit 1
Unbilled revenue 761
Security deposit 633
Deposits having original maturity more than 12 months 5
Other receivables 2692
Total 108769
The table below provides details regarding the contractual maturities of

financial liabilities including estimated interest payments as at March 31,
2018:
More
Less Between Between
Carrying Contractual than
270
Particulars amount cash flows than 1 to 2 2 to 5 5

1 year years years years
Non-derivative financial liabilities
Long term borrowings 2345 2345 0 1911 434 0
Current maturities of long term borrowings 1911 1911 1911 0 0 0
Short term borrowings 9147 9147 9147 0 0 0
Trade payables 11523 11523 11523 0 0 0
Interest accrued and due on borrowings 21 21 21 0 0 0
Interest accrued but not due on borrowings 7 7 7 0 0 0
Payable on purchase of fixed assets 417 417 417 0 0 0
Other liabilities 20 20 20
25391 25391 23046 1911 434 0
Carrying
Particulars
amount
Derivative financial assets
Interest rate swap 35
Non-derivative financial assets

Loan to related parties 602
Investments 39275
Receivable from related parties 8
Interest on security deposit 0
Interest on loan to related parties 130
Interest on fixed deposit 95
Unbilled revenue 59
Lease receivables 26
Security deposit 360
Deposits having original maturity more than 12 months 3
Other receivables 1740
Total 63166
50.6 Financing facilities

The company has access to Financing facilities (Fund and non fund
based) of which Rs. 14,977 lakhs (as at March 31, 2018: Rs. 6352 Lakhs )
were unused at the end of the reporting period. The company expects to
meet its other obligations from operating cash flow and proceeds of
maturing financial assets.
Note 51: Transition to Ind AS 115: Revenue from contract with customers
As at
Particulars April 1,
2018
(i) Impact on retained earnings to the opening balance -646
The details of cumulative effect to opening balance are as below:
a) Revenue recognised on contracts where performance obligations are
12865
satisfied over time as per Ind AS 115
b) Cost incurred on the above contracts -13858
c) Net profit (a-b) -993
d) Deferred tax asset 347
e) Net amount to be recognised in opening retained earnings -646
271
(ii) Adjustment made in balance sheet

a) Recognition of contract assets 12865
b) Derecognition of Inventory 13858
c) Deferred tax asset 347
Note 52: Assessment of impairment in the value of investment in the

subsidiary companies:
Nova Integrated Systems Limited (Nova) and Aurora Integrated Systems
Private Limited (Aurora) are wholly owned subsidiaries of the Company,
with a carrying value of investments of Rs.12,075 lakhs and Rs. 2,031
lakhs, respectively (refer Note 4 of the Standalone Financial Statements),
and loans outstanding and interest accrued thereon aggregating Rs. 502
lakhs and Rs. 1,340 lakhs, to Nova and Aurora, respectively. There has
been significant erosion in the net-worths of these Companies as at March
31, 2019, and they have been incurring continuing losses. These
companies are further dependent on the Company for continuous financial
support.
The Company has carried out an impairment assessment as at March 31,
2019 relating to its investments in these companies. The impairment
assessment, is based on the expected cash flows considering the
assumptions (refer below) and business projections, which have been
approved by the Board of Directors of these subsidiaries. Such impairment
assessment considers the strategic nature of these investments, the
specialised and peculiar nature of the developing Indian Defense industry,
and the long-term gestation period of Defense procurements. Based on the
above, the Management has determined that there is no impairment
provision required to the carrying values of the investments and the loans
given in respect of the aforesaid companies as at March 31, 2019.
Key Assumptions used by the Management in impairment testing of these
Companies:
a) Terminal Growth Rate - 5% for Nova and 0% for Aurora

b) Discount Rate* - 15% for Nova and 17.80% for Aurora
* the above discount rate is based on expected Weighted Average Cost of

Capital (WACC) of the Company.
Note 3B : Intangible assets

Carrying Amount
As at As at
Computer software - acquired 660 577
Technical know-how / Product development costs 932 665
Total 1592 1242
Cost
Technical
Computer know-how /
costs
Balance as at April 01, 2017 770 589 1359
Add: Effect of common control business combinations (Refer note: 53) 64 0 64
Additions 566 708 1274
Deletions / Reclassifications (refer notes (i) and (ii) below) -6 589 583
Balance as at March 31, 2018 1406 708 2114
Additions 397 425 822
272
Deletions 62 0 62
Accumulated amortisation and impairment

Technical
Computer know-how /
costs
Balance as at April 01, 2017 612 118 730
Add: Effect of common control business combinations (Refer note: 53) 60 0 60
Amortisation expenses 149 83 232
Deletions / Reclassifications (refer notes (i) and (ii) below) -8 158 150
Amortisation expenses 310 158 468
Deletions 58 0 58
Notes:
i) Deletions during the Financial Year 2017-18 in technical know-how represents the
intangible assets cost Rs. 589 lakhs relating to the termination of a customer contract whose
accumulated depreciation is Rs. 157 lakhs and net amount written off Rs. 432 lakhs.
ii) Reclassification of assets inter-se.
As at As at
Unquoted Equity instruments
12075 11575
shares of Rs.10 each fully paid up
5 5
Rs.10 each fully paid up
Aurora Integrated Systems Private Limited - 38,570 (March 31, 2018: 38,570) Equity Shares
2031 2031
of Rs. 10 each fully paid up
TAL Manufacturing Solutions Limited- 115,000,000 (March 31, 2018: NIL) Equity Shares of
53335 0
Rs. 10 each fully paid up
67446 13611
TATA Sikorsky Aerospace Limited - 37,999,999 (March 31, 2018 : 37,999,999) Equity
3800 3800
shares of Rs.10 each fully paid up
TATA Lockheed Martin Aerostructures Limited - 1,218,739 (March 31, 2018 :1,218,739)
12187 12187
Equity shares of Rs.1000 each fully paid up
TATA Boeing Aerospace Limited -76,500,000 (March 31, 2018: 76,500,000 ) Equity Shares
7650 7650
of Rs. 10 each fully paid up
HELA Systems Private Limited - 148,000 (March 31, 2018 : 148,000) Equity shares of Rs.10
2027 2027
each fully paid up
25664 25664
Total 93110 39275
* TASEC Limited was amalgamated into the Company (refer note: 53)
Note 5 : Trade Receivables (refer notes: 12 (i) to (iii))

As at As at
273
(a) Trade Receivables considered good - secured 0 0

(b) Trade Receivables considered good - unsecured 127 73
(c) Trade Receivables which have significant increase in credit risk 0 0
(d) Trade Receivables- credit impaired 0 0
Total 127 73
Note 6 : Other non-current financial assets

As at As at
Security Deposit at cost 488 177
Deposits having original maturity more than 12 months 5 3
Derivative assets - FVTPL 28 35
Total 521 215
Note 8: Non-current & Current tax assets (net)

As at As at
A) Non-current tax assets (net)
Income tax payments [Net of provision Rs. 1,468 lakhs (March 31 2018: Rs. 1,000 lakhs )] 704 755
Total 704 755
B) Current tax assets (net)
Income tax payments [Net of provision Rs. Nil (March 31, 2018: Rs. Nil)] 218 82
Total 218 82
Note 9 : Other non-current assets

As at As at
Capital advances 4198 1990
Other trade/commercial advances 0 16
Prepayment for leasehold land * 1424 1473
Contract assets 11456 0
Total 17141 3534
* In respect of land admeasuring 14.5 acres, lease deed is pending for execution.
Note 10 : Inventories
As at As at
Raw material * 8266 18314
Work-in-progress 6749 5825
Stores, tools, spares and consumables 28 16
Total 15428 24630
* Includes Raw materials in transit Rs. 424 lakhs (March 31, 2018: Rs. 370 lakhs)
As at As at
Investments in units of mutual funds (Unquoted)
TATA Income Plus Fund Plan A- Growth Option * *
Number of units - 898.076 (March 31, 2018 : 898.076)
274
Face value: Rs. 10 each (March 31, 2018: Rs. 10 each)

Total * *
Aggregate amount of unquoted investments * *
* Amount is less than Rs One lakh
Note 12 : Trade receivables (refer note below (i) to (iii))

As at As at
(a) Trade Receivables considered good - secured 0 0
(b) Trade Receivables considered good - unsecured 8794 10700
(c) Trade Receivables which have significant increase in credit risk 0 0
(d) Trade Receivables- credit impaired 64 115
Less: allowance for doubtful debts(refer note 12.a) -64 -115
Total 8794 10700
Note:
i) The average credit period on sales of goods is generally 30 to 90 days. No interest is
recovered on trade receivables for payments received after the due date.
ii) The credit period towards trade receivables generally varies for each customer.
iii) The concentration of risk with respect to trade receivables is reasonably low based on
past trend of the Company in recoverability of dues and very immaterial amount of bad debts
written off, except few normal delays in recoverability
12.a. Movement in allowance for doubtful debts

As at As at
Additions during the year 23 115
Reversal/written off during the year -74 0
Closing balance 64 115
Note 13 : Cash and cash equivalents

As at As at
Cash on Hand * *
Balance with banks
(i) In current accounts 301 441
(ii) In EEFC accounts 460 921
Deposits having original maturity less than 3 months 0 0
Remittance in Transit 0 1464
Total 761 2826
* amount less than Rs. One lakh
Note 14 : Other bank balances

As at As at
Deposits having original maturity more than 3 Months but less than 12 months 3 6734
Margin Money deposit 0 500
Total 3 7234
Note 15 : Loans
As at As at
March 31, March 31, 2018
Particulars
275

At amortised cost
(a) Loans Receivables considered good - secured 0 0
(b) Loans Receivables considered good - unsecured 1639 602
(c) Loans Receivables which have significant increase in credit risk 0 0
(d) Loans Receivables- credit impaired 0 0
Total 1639 602
Note 16 : Other current financial assets

As at As at
Receivables from Related parties (refer note: 46) 8 8
Security deposit 145 183
Interest accrued on:
Loans to related parties 203 130
Fixed deposits 1 95
Unbilled revenue 761 59
Lease receivables 0 26
Other receivables (includes export incentives receivable, receivables on account of technical
2692 1740
assistance and management services)
Total 3814 2241
Non financial assets

Note 17 : Other current assets
As at As at
Unsecured, Considered Good
Employee advances 38 56
Other trade/commercial advances* 672 3310
Balances with Government Authorities (refer note below) 1782 1049
Prepayment for leasehold land 49 50
Contract assets 2207 0
Unsecured, Considered Doubtful
Amounts paid to VAT authority 0 44
Less: Provision for doubtful recovery 0 -44
Total 5319 4915
* includes advance paid to related parties (refer note no. 46)
Balances with Government authorities

As at As at
(i) GST / Service tax credit receivable 1782 1048
(ii) VAT receivable 0 1
Total 1782 1049
Note 18 : Equity share capital

As at
276
As at March 31,
2019 (refer
note:53)
Authorised :
2500,000,000 fully paid Equity Shares of Rs. 10 each 250000 70000
(March 31, 2018: 700,000,000)
250000 70000
Issued, Subscribed and Fully Paid-up:
548,171,157 fully paid Equity Shares of Rs. 10 each 54817 54817
(March 31, 2018: 548,171,157 )
54817 54817
a) Reconciliation of number of shares outstanding at the beginning and at the end of the reporting year
For the
Particulars year
ended
March 31,
March 31, 2018
2019 (refer
note:53)
Number of shares
At the beginning of the year 548171157 488315200
Issued during the year 0 59855957
Outstanding at the end of the year 548171157 548171157
Amount in Rs (in lakhs)
At the beginning of the year 54817 48832
Issued during the year 0 5985
Outstanding at the end of the year 54817 54817
b) Terms and rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of
equity shares is entitled to one vote per share. The dividend proposed by the Board of directors is
subject to the approval of shareholders in the ensuing Annual General Meeting, except in the case of
interim dividend. In the event of liquidation of the Company, the holders of Equity Shares will be entitled
to receive remaining assets of the Company, after distribution of all preferential amounts if any, in
proportion of their shareholding.
c) No of shares held by Holding Company

As at
As at March 31,
2019 (refer
note:53)
TATA Sons Private Limited (the Holding Company) and its nominees 548171157 548171157
d) Details of shares held by each share holder holding more than 5% shares:
As at
As at March 31,
2019 (refer
note:53)
Number of shares
Percentage of holding
Note 19 : Other equity
277
As at As at
Particulars March 31, March 31,
2019 2018
(refer
note:53)
(I) Reserves & surplus
(A) Securities premium (refer note below: (i))
Add: Additions during the year 0 138
(B) Retained earnings (refer note below: (ii))
Add: Effect of common control business combinations (Refer note: 53) 0 1684
Less: Transitional impact of Ind AS 115 as on April 01, 2018 (refer note no. 51) -646 0
Add: Profit for the year 3406 1194
Add: Re-measurement of the defined benefit plans (refer note below: (iii)) 2 104
(II) Share Application money pending allotment
53335 0
(470,325,873 Equity Shares @ Rs. 11.34)
Total 60798 4701
Note:
i) Securities premium represents the amount received in excess of the face value of the equity shares
issued by the company, the utilisation of securities premium governed by Companies Act 2013.
ii) Retained earnings represents the Company's undistributed earnings after taxes.
iii) It represents the actuarial gain/(loss) recognised on the post employment defined benefit plan and the
same will not be transferred to retained earnings.
As at
As at March 31,
2019 (refer
note:53)
Non-current
Foreign currency term loan from banks (refer note 1 & 2 - (i),(ii),(iv) and (v) below) 7574 2345
Rupee term loan from banks (refer note 1 & 2 - (iii) below) 6700 0
Total 14274 2345
1.Security
First Charge on present and future movable fixed assets of the company excluding the assets pertaining
to Pilatus project which were exclusively charged to Axis Bank
ii) Axis Bank:
Collateral- Second pari-passu charge on all of the Company's movable fixed assets and current assets
including but not limited to Plant & Machinery, Book debts, operating cash flow, receivables,
commissions, revenue present and future
iii) HDFC Bank:
Factory Land & Building - pari-passu charge on the land and building specific of the GE project.
iv) ICICI Bank:
Second pari-passu charge on the movable fixed and current assets other than assets pertaining to GE
contract (present & future) of the borrower
v) Federal Bank:
First charge on Pari-passu basis over the movable fixed and current assets (present & future) of the GE
engines project of the company.
278
i) Kotak Mahindra Bank: USD 6,413,476 repayable in 48 equated monthly instalments from 30th April,
2016 with a moratorium for the financial years 2014-15 and 2015-16. The outstanding loan amount
payable in USD 1,603,369 as at March 31, 2019 having outstanding monthly instalments of 12.
ii) Axis Bank: USD 4,002,941 repayable in 12 equated quarterly instalments with a moratorium period of
2 years from the date of first disbursement of loan, the first instalment is to be paid from October 31,
2017. The outstanding loan payable in USD 2,001,471 as at March 31, 2019 having outstanding
quarterly instalments of 6.
iii) HDFC Bank: INR 6700 lakhs repayable in 48 equated monthly instalments with a moratorium of 3
years from the date of first disbursement of loan, the first instalment is to be paid from 10th Jan 2020.
iv) ICICI Bank: USD 6,785,792 repayable in 16 equated quarterly instalments with a moratorium of 3
years from the date of first disbursement of loan, the first instalment is to be paid from 15th August
2021.
v) Federal Bank: USD 3,497,025 repayable in 16 equated quarterly instalments with a moratorium of 3
years from the date of first disbursement of loan, the first instalment is to be paid from 19th February
2022.
3. Rate of Interest
Interest rate varying from 6 months LIBOR + 220 bps to 6 months LIBOR + 240 bps and interest rate
swap with spread of 183 bps.
As at
As at March 31,
2019 (refer
note:53)
Gratuity 513 320
Compensated absences 875 780
Provision for Warranties (refer note below 29c) 170 63
Total 1558 1163
Note 22 : Non-current tax liablities (net)

As at
As at March 31,
2019 (refer
note:53)
Provision for Income Tax [net of taxes paid Rs. 593 lakhs (March 31, 2018: Rs. 593 lakhs )] 12 12
Total 12 12
Note 23 : Other non-current liabilities

As at
As at March 31,
2019 (refer
note:53)
Advance from customers 10426 10498
Total 10426 10498
As at
As at March 31,
2019 (refer
note:53)
279
Current
From banks- Working capital facilities
(a) In Foreign Currency 7427 6814
(b) In Indian Rupees 2433 2333
Total 9860 9147
The above borrowings are secured on 1st pari-passu basis by way of hypothecation of the Company's
current assets and 2nd pari-passu charge on all the present and future movable property, plant and
equipment of the Company.
Note 25 : Trade payables

As at
As at March 31,
2019 (refer
note:53)
Acceptances 0 1627
Other than acceptances
(a) total outstanding dues of micro enterprises and small enterprises 244 447
(b) total outstanding dues of creditors other than micro enterprises and small enterprises 10838 9449
Total 11082 11523
Note 26 : Other current financial liabilities

As at
As at March 31,
2019 (refer
note:53)
Current maturities of long term debt 2032 1911
Interest accrued and due on borrowings 25 21
Interest accrued but not due on borrowings 47 7
Payables on purchase of property, plant and equipment 1362 417
Other liabilities 16 20
Total 3482 2376
Note 27 : Other current liabilities

As at
As at March 31,
2019 (refer
note:53)
Advance from customers 3403 11186
Statutory liabilities payable 617 472
Total 4020 11658
Note 28: Current tax liabilities

As at
As at March 31,
2019 (refer
note:53)
Provision for Income tax (net of taxes paid Rs. 275 lakhs (March 31, 2018: Nil) 3 0
Total 3 0
As at
As at March 31,
280
2019 (refer
note:53)
Provision for compensated absences (refer note 48) 135 128
Provision for gratuity (refer note 48) 2 4
Provision for claims (refer note below 29a) 169 158
Provision for liquidated damages (refer note below 29b) 176 107
Provision for warranties (refer note below 29c) 50 17
Provision for onerous contracts (refer note below 29d) 251 0
Total 783 414
Note 29a: Provision for claims

As at
As at March 31,
2019 (refer
note:53)
Less: utilized/reversals made during the year -3 -7
Total 169 158
Note 29b: Provision for liquidated damages

As at
As at March 31,
2019 (refer
note:53)
Less: utilized/reversals made during the year -17 -323
Total 176 107
Note 29c: Provision for warranties (non-current and current)

As at
As at March 31,
2019 (refer
note:53)
Less: utilized/reversals made during the year -4 0
Total 220 80
Out of the above -
Current 50 17
Non-current 170 63
Note 29d: Provision for Onerous Contracts

As at
As at March 31,
2019 (refer
note:53)
Opening balance 0 0
Add: additions made during the year 251
Total 251 0
281
Description of estimates and critical accounting estimates explanatory [Text Block]
Critical accounting judgments and key sources of estimation uncertainty
In the application of the Company's accounting policies the directors of the Company are
required to make judgments, estimates and assumptions about the carrying amounts of
assets and liabilities that are not readily apparent from other sources. The estimates and
associated assumptions are based on historical experience and other factors that are
considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if the
revision affects only that period, or in the period of the revision and future periods if the
revision affects both current and future periods.
The following are the critical judgments, apart from those involving estimations, that the
directors have made in the process of applying the Company's accounting policies and that
have the most significant effect on the amounts recognized in the Financial Statements.
Revenue recognition
The Company applies judgement to determine whether each product or service promised to
a customer are capable of being distinct, and are distinct in the context of the contract, if
not, the promised product or services are combined and accounted as a single performance
obligation. Revenue will be recognised as the customer obtains control of the product and
services promised in the Contract. Given the nature of the product and terms and conditions
in case of certain contracts, the customer obtains control as the Company performs the
work under the contract. Therefore, revenue is recognised over time for such contracts and
for other contract at a point in time. The Company uses the percentage of completion
method using the input method (cost expended) to measure progress towards completion in
respect of certain contracts. Percentage of completion method accounting relies on
estimates of total expected contract revenue and costs. This method is followed when
reasonably dependable estimates of the revenues and costs applicable to various elements
of the contract can be made. Key factors that are reviewed in estimating the future cost to
complete include estimates of future labour costs and productivity efficiencies. As the
financial reporting of these contracts depends on estimates that are assessed continually
during the term of these contracts, recognised revenue and profit are subject to revision as
the contracts progresses to completion. When estimates indicate that a loss will be
incurred, the loss is provided for in the period in which the loss becomes probable.

The following are the key assumptions concerning the future, and other key sources of
estimation uncertainty at the end of the reporting period that may have a significant risk of
causing a material adjustment to the carrying amounts of assets and liabilities within the
next financial year.
Assumptions and estimation

uncertainty
The Company reviews the

estimated useful lives of
and the intangible assets at
the end of each reporting
282
period. During the current
283
year, there has been no

change in life considered for
the assets.
Product development costs

are incurred on new Designs,
Prototypes and Technical
Know-how are recognised as
intangible assets, when the
feasibility has been
Intangible assets under development established, the Company has
committed technical, financial
and other resources to
complete the development
and it is probable that asset
will generate probable future
economic benefits.
Inventories are stated at the

lower of cost and net
realisable value. In estimating
the net realisable value of
inventories the Company
makes an estimate of future
selling prices and costs
necessary to make the sale.
Contract asset is recognised

when the performance
obligations are fulfiled and
revenue is recognised over a
Contract assets
period of time. Estimates are
involved in determing the
percentage of completion of
the contract.
The Company uses actuarial

assumptions to determine the
obligations for employee
benefits at each reporting
period. These assumptions
include the discount rate,
expected long-term rate of
return on plan assets, rate of
increase in compensation
levels and mortality rates.
Significant judgments are

required in determining the
provision for income taxes,
including the amount expected
to be paid/ recovered for
uncertain tax positions.
In assessing the realisability of

defered income tax assets,
the Management considers
whether some portion or all of
the deferred income tax
assets will not be realised.
The ultimate realisation of
Provision for taxes deferred income tax assets is
dependent upon the
generation of future taxable
income during the periods in
which the temporary
differences become
284
deductible. The amount of

deferred income tax assets
considered realisable,
however, could be reduced in
the near term if estimates of
future taxable income during
the carry forward period are
reduced.
The Company reviews its

carrying value of investments
in subsidiaries at cost,
annually, or more frequently
when there is an indication for
impairment. For the purpose
of impairment testing,
estimated future cash flows
are discounted to their present
value using a pre-tax discount
rate that reflects current
market assessments of the
time value of money and risks
specific to the assets for
assessing the value in use.
The recoverable amount of an

asset is the greater of its
value-in-use and its fair value
less costs to sell.
Other estimates
The preparation of Financial Statements involves estimates and assumptions that affect the
reported amounts of assets, liabilities, disclosure of contingent liabilities at the date of
Financial Statements and the reported amounts of revenue and expenses for the reporting
period.
Nature of other commitments

Provisions, Contingent liabilities and contingent assets
"Provisions are recognised only when there is a present obligation as a result of past events and when a reasonable estimate of the amount of
obligation can be made. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at
the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the
cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value
of money is material).
Contingent liabilities are disclosed for (i) possible obligation which will be confirmed only by future events not wholly within the control of the
Company or (ii) present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the
obligation or a reliable estimate of the amount of the obligation cannot be made. Contingent assets are neither recognised nor disclosed in the
Financial Statements."
285
Disclosure of category wise quantitative data about outstanding derivative instruments explanatory [Text Block]
50.3.2.3 Derivative contracts (Interest Rate Swap) outstanding as at

Balance Sheet date:
The company has entered into Interest Rate Swaps (Derivatives) to

hedge foreign currency exposure w.r.t. variable component in the
Interest rate (i.e. 6months LIBOR) of foreign currency term loans.
Buy As at
No of As at
Particulars / March 31, 2018
Contracts March 31, 2019
Sell (refer note:53)
Interest Rate Swaps:
i) Kotak Bank
a) Outstanding notional Principal amount - in USD (in millions) Buy

1 2 3
b) Outstanding notional principal amount - in INR (in lakhs)

1,109 2,086
ii) Axis Bank

1 2 3

1,384 2,170
iii) ICICI Bank

3 7 -

4,694 -
286
Details regarding cost records and cost audit explanatory [Text Block]
maintenance of cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013
The Company maintains the Cost Records pursuant to the Companies (Cost Records and Audit) Rules, 2014 as amended prescribed by the
Central Government under sub-section (1) of Section 148 of the Companies Act, 2013 and the Statutory Auditors of the Company have broadly
reviewed the Cost Records of the Company.
[611800] Notes - Revenue

01/04/2018
to
31/03/2019
Disclosure of revenue [TextBlock] [See below]
287
Disclosure of revenue [Text Block]
Revenue recognition
Effective April 1, 2018, the Company has adopted Ind AS 115 “Revenue from Contracts with Customers”. The impact of adoption
of Ind AS 115 has disclosed in note no.51.
Revenue is recognized upon on transfer of promised goods or services to customers in an amount that reflects the consideration
the Company expects to receive in exchange for those goods or services. Revenue is reduced for estimated customer returns,
rebates and other similar allowances, taxes or duties collected on behalf of the government. An entity shall recognize revenue
when the entity satisfies a performance obligation by transferring a promised goods or services (i.e. an asset) to a customer. As
asset is transferred when the customer obtains control of that asset.
For performance obligations where control is transferred over time, revenues are recognised by measuring progress towards
completion of performance obligation. The selection of method to measure progress towards completion require judgement and
is based on the nature of the promised goods or services to be provided.
The Company has recognised revenue with respect to cost incurred for certain contracts where revenue is recognised over time
and has enforceable right to receive the consideration to the extent of the work performed.
Advance payments received from customers for which no goods or services transferred or rendered are presented as ‘Advance
from customers'.
Export benefits
Export benefits are recognized on accrual basis when there is reasonable certainty of realization of such benefits/incentives.
Other income
Dividend income from investments is recognised in the year in which the right to receive the payment is established.
Interest income from the financial asset is recognised when it is probable that the economic benefits will flow to the Company
and can be measured reliably. Interest income is recognised on a time proportion basis taking into account the amount
outstanding and at the effective interest rate applicable, which is the rate exactly discounts estimated future cash receipts
through the expected life of the financial assets to that asset's net carrying amount on initial recognition.
[612400] Notes - Service concession arrangements

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of service concession arrangements [TextBlock]
Whether there are any service concession arrangments No No
288
[612000] Notes - Construction contracts

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of notes on construction contracts [TextBlock]
Whether there are any construction contracts No No
[612600] Notes - Employee benefits
Disclosure of defined benefit plans [Table] ..(1)

Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Defined benefit plans categories [Axis] 1
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [Line items]
GRATUITY PLAN GRATUITY PLAN
Description of type of plan FUNDED AND FUNDED AND
UNFUNDED UNFUNDED
GRATUITY PLAN GRATUITY PLAN
Description of nature of benefits provided by plan FUNDED AND FUNDED AND
UNFUNDED UNFUNDED
Surplus (deficit) in plan [Abstract]
Defined benefit obligation, at present value 1,242 1,073
Plan assets, at fair value 727 749
Net surplus (deficit) in plan -515 -324
Actuarial assumption of discount rates 7.30% 7.50%
289
Disclosure of net defined benefit liability (assets) [Table] ..(1)

Present value of
defined benefit
Net defined benefit liability (assets) [Axis] Net defined benefit liability (assets) [Member]
obligation
[Member]
Defined benefit plans categories [Axis] 1 1
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
Disclosure of net defined benefit liability
(assets) [Abstract]
Disclosure of net defined benefit liability
(assets) [Line items]
GRATUITY PLAN
Description of type of plan Refer to child member Refer to child member FUNDED AND
UNFUNDED
Changes in net defined benefit liability
(assets) [Abstract]
Current service cost, net defined
-183 -208 -183
benefit liability (assets)
Interest expense (income), net defined
-23 -18 -23
Gain (loss) on remeasurement, net
defined benefit liability (assets)
[Abstract]
Actuarial losses (gains) arising from
changes in demographic assumptions,
-2 -159 -2
net defined benefit liability
(assets)
Total loss (gain) on
remeasurement, net defined -2 -159 -2
Past service cost and gains (losses)
arising from settlements, net defined
benefit liability (assets) [Abstract]
Past service cost, net defined
0 -4 0
Net past service cost and gains
(losses) arising from settlements,
0 -4 0
net defined benefit liability
(assets)
Contributions to plan, net defined
benefit liability (assets) [Abstract]
Contributions to plan by employer,
net defined benefit liability -6 -5 -6
(assets)
Contributions to plan by plan
participants, net defined -22 0 -22
Total contributions to plan, net
-28 -5 -28
changes, net defined benefit -15 14 -15
liability (assets)
Total increase (decrease) in net
-191 -52 -191
Net defined benefit liability (assets) at
-515 -324 -272 -515
end of period
290
Disclosure of net defined benefit liability (assets) [Table] ..(2)

Present value of defined benefit obligation
Net defined benefit liability (assets) [Axis]
[Member]
Defined benefit plans categories [Axis] 1
01/04/2017
to 31/03/2017
31/03/2018
Disclosure of net defined benefit liability (assets) [Abstract]
Disclosure of net defined benefit liability (assets) [Line items]
GRATUITY PLAN FUNDED
Description of type of plan AND UNFUNDED
Changes in net defined benefit liability (assets) [Abstract]
Current service cost, net defined benefit liability (assets) -208
Interest expense (income), net defined benefit liability (assets) -18
Gain (loss) on remeasurement, net defined benefit liability (assets)
[Abstract]
Actuarial losses (gains) arising from changes in demographic
-159
assumptions, net defined benefit liability (assets)
Total loss (gain) on remeasurement, net defined benefit liability
-159
(assets)
Past service cost and gains (losses) arising from settlements, net
defined benefit liability (assets) [Abstract]
Past service cost, net defined benefit liability (assets) -4
Net past service cost and gains (losses) arising from settlements,
-4
net defined benefit liability (assets)
Contributions to plan, net defined benefit liability (assets) [Abstract]
Contributions to plan by employer, net defined benefit liability (assets) -5
Contributions to plan by plan participants, net defined benefit
0
liability (assets)
Total contributions to plan, net defined benefit liability (assets) -5
Increase (decrease) through other changes, net defined benefit liability
14
(assets)
Total increase (decrease) in net defined benefit liability (assets) -52
Net defined benefit liability (assets) at end of period -324 -272

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018

Disclosure of employee benefits [TextBlock] [See below] .
Disclosure of defined benefit plans [TextBlock]

Whether there are any defined benefit plans Yes Yes
Disclosure of net defined benefit liability (assets) [TextBlock]
291
Disclosure of employee benefits [Text Block]
Notes forming part of the Standalone Financial Statements
Note 48: Employee benefits
A. Defined Contribution Plans
The Company makes provident fund contributions to defined contribution plans for all
its employees. Under the scheme, the Company is required to contribute a specified
percentage of the payroll costs to fund the benefits. The Company recognised Rs.
458 lakhs (as at March 31, 2018 Rs. 348 lakhs) for provident fund contributions and
Rs. 27 lakhs (as at March 31, 2018 Rs. 30 lakhs) for Employees State Insurance
Scheme Contribution.
B. Defined Benefit Plan
The actuarial valuation of the present value of the defined benefit obligation has been
carried out as at March 31, 2019 and March 31, 2018. The following table sets out
the amounts recognized in the Financial Statements as at March 31, 2019 and March
31, 2018 for the above mentioned defined benefit plans:
Expenses recognised in the statement of profit and loss and other comprehensive
income
Gratuity
Particulars
Plan
For the
year
For the year ended
ended March
March 31, 31,
2019 2018
(refer
note:53)
Funded Unfunded Funded Unfunded
Expenses recognised in the statement of profit and loss consists of:
Employee benefits expenses:
Current service costs 166 17 183 25
Net interest expenses 20 3 14 4
292
Past service cost 0 0 2.71 1
186 20 199.71 30
Expenses recognised in the statement of other comprehensive income (OCI):
Actuarial (gain)/loss arising from changes in experience adjustments 79 -11 137 -7
Actuarial (gain)/loss arising from changes in assumption changes -82 1 -266 -29
Return on plan assets (greater)/less than discount rate 11 0 6 0
8 -10 -123 -36
The current service cost and the net interest expense for the year are included under
'Employee benefit expenses' in the statement of Profit and Loss account. Similarly,
the remeasurements of net defined benefit plans is included under 'Other
comprehensive income'
Change in net position of defined benefit obligations
Gratuity
Particulars
Plan
As at
March
As at
31,
March 31,
2018
2019
(refer
note:53)
Net asset / (liability) recognised at the beginning of the year -266.71 -57.29 -209 -63
Current service costs -166 -17 -183 -25
Net interest on net defined benefit (liability)/asset -20 -3 -14 -4
Past Service Cost 0 0 -2.71 -1.29
Remeasurements recognised in OCI -8 10 123 36
Employer contributions 6 5 0
Acquisitions credit / (cost) -15 0 14 0
Benefits paid 0 22 0 0
Net asset / (liability) recognised at the end of the year -469.71 -45.29 -266.71 -57.29
Change in defined benefit obligations
Gratuity
Particulars
Plan
As at
March
31,
293
2018
As at
March 31,
2019
294
(refer
note:53)
Obligation at the beginning of the year 1015.71 57.29 947 62
Current service costs 166 17 183 25
Interest cost on the DBO 73 3 65 5
Past Service Cost 0 0 2.71 1.29
Actuarial (gain)/loss arising from changes in experience adjustments 79 -11 137 -7
Actuarial (gain)/loss arising from changes in assumption changes 0 1 3 -29
Actuarial (gain)/loss arising from financial assumptions -82 0 -269 0
Benefits paid from plan assets -70 0 -39 0
Benefits directly paid by company 0 -22 0 0
Acquisition credit / (cost) 15 0 -14 0
Obligation at the end of the year 1196.71 45.29 1015.71 57.29
Change in plan assets
Gratuity
Particulars
Plan
As at
March
As at
31,
March 31,
2018
2019
(refer
note:53)
Fair value of plan assets at the beginning of the year 749 738
Interest income on plan assets 53 51
Employer contributions 6 5
Return on plan assets greater /(lesser) than discount rate -11 -6
Benefits paid from plan assets -70 -39
Fair value of plan assets at the end of the year 727 749
Amounts recognised in the balance sheet consists of
Gratuity
Particulars
Plan
As at
295
March
31,
2018
As at
March 31,
2019
296
(refer
note:53)
Present value of defined benefit obligation 1242 1073
Fair value of plan assets -727 -749
515 324
Recognised as:
Retirement benefit liability - current 2 4
Retirement benefit liability - non-current 513 320
The fair value of plan assets by category are as below:
Gratuity
Particulars
Plan
As at
March
As at
31,
March 31,
2018
2019
(refer
note:53)
Insurer managed funds 1 1
The fair value of insurer managed funds are not based on quoted prices
The key assumptions used in accounting for gratuity are as below
Gratuity
Particulars
Plan
As at
March
As at
31,
March 31,
2018
2019
(refer
note:53)
Discount rate 0.073 0.075
8% to
Rate of escalation in salary 8% to 9%
10%
Indian
Assured
Lives
Mortality rate
Mortality
(2006-08)
Ult
Attrition rate 0.11 0.11
Significant actuarial assumptions for determination of defined benefit obligation

include discount rate, expected salary increase and attrition rate. The sensitivity
297
analysis below has been determined based on reasonably possible changes of the
respective assumptions occurring at the end of the reporting period while holding all
other assumptions constant.
Sensitivity analysis for Gratuity
Gratuity
Particulars
Plan
As at
March
As at
31,
March 31,
2018
2019
(refer
note:53)
Discount rate
Increase by 1% -100.17 -89
Decrease by 1% 115.16 103
Rate of escalation in salary
Increase by 1% 112.4 100
Decrease by 1% -99.73 -88
Attrition rate
Increase by 1% -30.11 -32
Decrease by 1% 35 35
Expected Gratuity benefits payments for the year ending
Gratuity
Particulars
Plan
As at
March
As at
31,
March 31,
2018
2019
(refer
note:53)
Weighted average duration of Defined benefit obligation 8 years 8 years
Expected cash flows
1. Expected employer contributions in the next year 470 266
2. Expected benefit payments
Year 1 101 101
Year 2 114.57 93
298
Year 3 128.53 107
Year 4 154.3 123
Year 5 179.81 152
Beyond 5 Years 1202 1029
C. Other long term employee benefits
Compensated absences
The leave benefit scheme is treated as a other long term benefit under Ind AS 19 and
the actuarial gains/losses are recognised immediately through the Statement of Profit
and Loss Account.
Leave
Particulars
Encashment
As at
March
As at
31,
March 31,
2018
2019
(refer
note:53)
Discount rate 0.073 0.075
Salary escalation rate 0.09 0.1
Withdrawal rate 0.11 0.11
Indian
Assured
Lives
Mortality rate
Mortality
(2006-08)
ult
[612800] Notes - Borrowing costs

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of borrowing costs [TextBlock]
Whether any borrowing costs has been capitalised during the year No No
299
[700100] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Key managerial personnels and directors [Axis] 1 2 3 4
01/04/2018 01/04/2018 01/04/2018 01/04/2018
to to to to
31/03/2019 31/03/2019 31/03/2019 31/03/2019
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
MURALI MAYA
BANMALI
Name of key managerial personnel or director AGRAWALA
SANTHANA SUKARAN SINGH SWAMINATHAN
GOPALAN SINHA
Director identification number of key managerial
00120029 01485745 03056226
personnel or director
Permanent account number of key managerial
ADKPS8432K ASIPS0378R
Designation of key managerial personnel or director Director CFO Managing Director Additional Director
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Salary key managerial personnel or director 0 121.42 237.71 0
Perquisites key managerial personnel or
0 3.97 27.58 0
director
Profits in lieu of salary key managerial
0 0 0 0
0 125.39 265.29 0
director
Sitting fees key managerial personnel or
1.6 0 0 2
director
Stock option key managerial personnel or
0 0 0 0
director
Sweat equity key managerial personnel or
0 0 0 0
director
Commission as percentage of profit key
0 0 0 0
managerial personnel or director
Other commission key managerial personnel or
0 0 0 0
director
Other compensation key managerial personnel or
0 0 0 0
director
Total key managerial personnel or director
1.6 125.39 265.29 2
remuneration
300
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(2)
Key managerial personnels and directors [Axis] 5 6 7 8
01/04/2018 01/04/2018 01/04/2018 01/04/2018
to to to to
31/03/2019 31/03/2019 31/03/2019 31/03/2019
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
KESAVA MENON NORMAN ANIL
Name of key managerial personnel or director CHANDRASEKHAR
VIJAY SINGH KAUSIK BISWAS
KUMAR BROWNE
Director identification number of key managerial
06466854 06610802 08153434
Permanent account number of key managerial
AGXPB6873D
Designation of key managerial personnel or director Director Director Company Secretary Director
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration
[Abstract]
director [Abstract]
Salary key managerial personnel or director 0 0 16.02 0
Perquisites key managerial personnel or
0 0 0 0
director
Profits in lieu of salary key managerial
0 0 0 0
0 0 16.02 0
director
Sitting fees key managerial personnel or
6.5 9.5 0 6.5
director
Stock option key managerial personnel or
0 0 0 0
director
Sweat equity key managerial personnel or
0 0 0 0
director
Commission as percentage of profit key
0 0 0 0
managerial personnel or director
Other commission key managerial personnel or
0 0 0 0
director
Other compensation key managerial personnel or
0 0 0 0
director
Total key managerial personnel or director
6.5 9.5 16.02 6.5
remuneration
[612200] Notes - Leases
Disclosure of finance lease and operating lease by lessee [Table] ..(1)

Later than one year and not later than
Maturity [Axis] Not later than one year [Member]
five years [Member]
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of finance lease and operating lease by
lessee [Abstract]
Disclosure of finance lease and operating lease
by lessee [Line items]
Minimum finance lease payments payable (A) 639 (B) 277 2,505 607
Footnotes
(A) Refer Note : 45 Operating lease obligations
(B) Refer Note : 45 Operating lease obligations
301
Disclosure of finance lease and operating lease by lessee [Table] ..(2)

Maturity [Axis] Later than five years [Member]
31/03/2019 31/03/2018
Disclosure of finance lease and operating lease by lessee [Abstract]
Disclosure of finance lease and operating lease by lessee [Line items]
Minimum finance lease payments payable 3,831 1,949

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Textual information (70) Textual information (71)
Disclosure of leases [TextBlock] [See below] [See below]
Whether company has entered into any lease agreement Yes Yes
Disclosure of finance lease and operating lease by lessee [TextBlock]
Whether any operating lease has been converted to financial lease or
No No
vice-versa
302
Disclosure of leases [Text Block]
As Lessee
The Company has entered into an operating

leases, lease expenses recognised in the
statement of Profit and Loss as at March 31,
2019: Rs. 475 lakhs (March 31, 2018: Rs. 292
lakhs)
As at
As at
March 31, 2019
(refer note:53)
not later than one year

639 277
later than one year but not later than 5 years

2,504 607
later than 5 years

3,831 1,949
(ii) Disclosure in Respect of Assets given on

Finance Lease:
Later than one year but less

Particulars Total Not later than 1 year
than 5 years
Gross Investment
- - -
25.00 25.00 -
Less: Unearned Finance Income

- - -
2.00 2.00 -
Present Value of Minimum Lease Rental

- - -
23.00 23.00 -
303
304
Disclosure of leases [Text Block]
As Lessee
The Company has entered into an operating

leases, lease expenses recognised in the
statement of Profit and Loss as at March 31,
2019: Rs. 475 lakhs (March 31, 2018: Rs. 292
lakhs)
As at
As at
March 31, 2019
(refer note:53)
not later than one year

639 277
later than one year but not later than 5 years

2,504 607
later than 5 years

3,831 1,949
(ii) Disclosure in Respect of Assets given on

Finance Lease:
Later than one year but less

Particulars Total Not later than 1 year
than 5 years
Gross Investment
- - -
25.00 25.00 -
Less: Unearned Finance Income

- - -
2.00 2.00 -
Present Value of Minimum Lease Rental

- - -
23.00 23.00 -
305
[612300] Notes - Transactions involving legal form of lease

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of arrangements involving legal form of lease [TextBlock]
Whether there are any arrangements involving legal form of lease No No
[612900] Notes - Insurance contracts

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of insurance contracts [TextBlock]
Whether there are any insurance contracts as per Ind AS 104 No No
[613100] Notes - Effects of changes in foreign exchange rates

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of effect of changes in foreign exchange rates [TextBlock]
Whether there is any change in functional currency during the year No No
Description of presentation currency INR
[500100] Notes - Subclassification and notes on income and expenses
Miscellaneous other operating revenues [Table] ..(1)

Miscellaneous other operating revenues [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues 4,259 2,153 857 1,650
Miscellaneous other operating revenues [Abstract]
Miscellaneous other operating revenues
[LineItems]
Description of miscellaneous other operating
Revenue - Tooling Revenue - Tooling Export incentives Export incentives
revenues
Miscellaneous other operating revenues 4,259 2,153 857 1,650
306

Miscellaneous other operating revenues [Axis] 3 4
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Miscellaneous other operating revenues 2,119 2,130 0 1
Miscellaneous other operating revenues
[LineItems]
Technical assistance Technical assistance Freight and Freight and insurance
Description of miscellaneous other operating
and management and management insurance recovered recovered from
revenues services services from customers customers
Miscellaneous other operating revenues 2,119 2,130 0 1

Miscellaneous other operating revenues [Axis] 5
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Miscellaneous other operating revenues 575 3,620
Miscellaneous other operating revenues [LineItems]
Revenue from other Revenue from other
Description of miscellaneous other operating revenues services services
Miscellaneous other operating revenues 575 3,620
307

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from operations [Abstract]
Disclosure of notes on revenue from operations explanatory [TextBlock] [See below]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 39,671 25,141
Revenue from sale of services 3,623 2,201
Other operating revenues 7,810 9,554
Other operating revenues 7,810 9,554
Total revenue from operations other than finance company 51,104 36,896
Total revenue from operations 51,104 36,896
Disclosure of notes on other operating revenues explanatory [TextBlock] [See below]
Miscellaneous other operating revenues 7,810 9,554
Total other operating revenues 7,810 9,554
Total other operating revenues 7,810 9,554
Miscellaneous other operating revenues 7,810 9,554
Disclosure of other income [Abstract]
Disclosure of notes on other income explanatory [TextBlock] [See below]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on fixed deposits, current investments 191 266
Interest on other current investments (A) 87 (B) 63

Total interest income on current investments 278 329
Total interest income 278 329
Dividend income [Abstract]
Dividend income non-current investments [Abstract]
Dividend income non-current investments from subsidiaries 0 4,022
Total dividend income non-current investments 0 4,022
Total dividend income 0 4,022
Net gain/loss on sale of investments [Abstract]
Net gain/loss on sale of current investments 0 (C) 1
Total net gain/loss on sale of investments 0 1
Other non-operating income [Abstract]
Net gain (loss) on foreign currency fluctuations treated as other
income [Abstract]
Net gain (loss) on foreign currency translation 345 576
Total net gain/loss on foreign currency fluctuations treated as
345 576
other income
Surplus on disposal, discard, demolishment and destruction of
0 1
depreciable property, plant and equipment
Liabilities written off (D) 124 (E) 74
Miscellaneous other non-operating income (F) 819 (G) 387
Total other non-operating income 1,288 1,038
Total other income 1,566 5,390
Disclosure of finance cost [Abstract]
Disclosure of notes on finance cost explanatory [TextBlock] [See below]
Interest expense [Abstract]
Interest expense non-current loans [Abstract]
Interest expense non-current loans, banks (H) 973 (I) 519
Total interest expense non-current loans 973 519
Other interest charges (J) 1 0
Total interest expense 974 519
Other borrowing costs 15 0
308
Total finance costs 989 519

Employee benefit expense [Abstract]
Disclosure of notes on employee benefit expense explanatory [TextBlock] [See below]
Salaries and wages 9,599 8,536
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Salary to directors 0 0
Total remuneration to directors 0 0
Remuneration to manager [Abstract]
Salary to manager 0 0
Total remuneration to manager 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 634 551
Total contribution to provident and other funds 634 551
Gratuity 20 30
Staff welfare expense 1,026 875
Total employee benefit expense 11,279 9,992
Depreciation, depletion and amortisation expense [Abstract]
Disclosure of notes on depreciation, depletion and amortisation Textual information (77)
expense explanatory [TextBlock] [See below]
Depreciation expense (K) 1,354 (L) 1,247

Amortisation expense (M) 468 (N) 223
Total depreciation, depletion and amortisation expense 1,822 1,470
Breakup of other expenses [Abstract]
Disclosure of notes on other expenses explanatory [TextBlock] [See below]
Consumption of stores and spare parts 305 0
Power and fuel 393 347
Rent 0 0
Repairs to building 152 94
Repairs to machinery 264 107
Insurance 277 211
Rates and taxes excluding taxes on income [Abstract]
Other cess taxes 79 79
Total rates and taxes excluding taxes on income 79 79
Printing stationery 39 38
Information technology expenses 199 194
Travelling conveyance 1,317 652
Legal professional charges 3,072 2,304
Training recruitment expenses 148 128
Safety security expenses 131 106
Directors sitting fees (O) 208 (P) 48

Advertising promotional expenses 287 136
After sales service expenses 40 29
Cost repairs maintenance other assets 419 302
Cost lease rentals 521 355
Cost technical services 934 945
Net provisions charged [Abstract]
Provision warranty claims created 144 80
Other provisions created (Q) 351 (R) 145

Total net provisions charged 495 225
Loss on disposal of intangible Assets 0 0
Loss on disposal, discard, demolishment and destruction of
36 0
depreciable property plant and equipment
Payments to auditor [Abstract]
Payment for audit services 18 13
Payment for taxation matters 5 0
Payment for company law matters 12 1
Payment for other services 2 16
Payment for reimbursement of expenses 0 0
Total payments to auditor 37 30
309
Payments to cost auditor [Abstract]

Payment for cost audit charges 0 0
Total payments to cost auditor 0 0
CSR expenditure 19.17 26
Miscellaneous expenses (S) 1,734.83 (T) 2,182

Total other expenses 11,107 8,538
Breakup of expenditure on production, transportation and other
expenditure pertaining to exploration and production activities
[Abstract]
Total expenditure on production, transportation and other
0 0
expenditure pertaining to exploration and production activities
Current tax [Abstract]
Current tax pertaining to current year 484 65
Total current tax 484 65
310
Footnotes
(A)
Loans given to related parties 83
Security Deposits 4
TOTAL 87
(B)
Loans given to related parties 61
Security Deposits 2
TOTAL 63
(C)
Profit on redemption of current investments 1
(D) Liabilities / Provisions no longer payable written back 124
(E)
Liabilities / Provisions no longer payable written back 74
(F)
Income from resource sharing 554
IT Infra sharing 122
Net gain on financial instruments designated at FVTPL 0
Other Miscellaneous Income 143
TOTAL 819
(G)
Income from resource sharing 253
IT Infra sharing 44
Net gain on financial instruments designated at FVTPL 41
Other Miscellaneous Income 49
TOTAL 387
(H)
Interest expenses on:
Working capital facilities 613
Interest on foreign currency term loan 244
Interest on Rupee loan 116
TOTAL 973
(I)
Interest expenses on:
Working capital facilities 312
Interest on foreign currency term loan 207
Interest on Rupee loan 0
TOTAL 519
(J) Interest on delayed payment of statutory dues 1

(K)
Depreciation of Property, Plant and equipment 1466
Less: Depreciation transferred to assets under development 112
NET 1354
(L)
Depreciation of Property, Plant and equipment 1257
Less: Depreciation transferred to assets under development 10
NET 1247
(M)
Amortisation of Intangible Assets 468

Less: Amortisation transferred to assets under development 0
NET 468
(N)
Amortisation of Intangible Assets 232
Less: Amortisation transferred to assets under development 9
NET 223
(O)
Directors sitting fees 53
Commission to Non-Executive Directors 155
TOTAL 208
(P)
Directors sitting fees 48
311
Commission to Non-Executive Directors 0

TOTAL 48
(Q)
TOTAL 351
(R)
TOTAL 145
(S)
Factory Expenses 268
Jobwork 69
Outsourced Manpower cost 654
Obsolete stocks written-off 88
Brand Subscription fee 127
Net loss on financial instruments at FVTPL 7
TOTAL 1735
(T)
Factory Expenses 248
Jobwork 53
Outsourced Manpower cost 399
Obsolete stocks written-off 1062
Brand Subscription fee 102
Net loss on financial instruments at FVTPL 0
TOTAL 2182
Disclosure of notes on revenue from operations explanatory [Text Block]
Note 30 : Revenue from operations
For the year ended

For the year ended
March 31, 2019
(refer note:53)
Sale of goods 39,671 25,141
Sale of services 3,623 2,201
Other operating revenue (refer note below) 7,810 9,554
Total 51,104 36,896
312
Disclosure of notes on other operating revenues explanatory [Text Block]
Note: Other operating revenue:
For the year ended

For the year ended
March 31, 2019
(refer note:53)
Revenue - tooling 4,259 2,153
Export incentives 857 1,650
Technical assistance and management services 2,119 2,130
Freight and Insurance recovered from customers - 1
Revenue from other services 575 3,620
Total 7,810 9,554
313
Disclosure of notes on other income explanatory [Text Block]
Note 31 : Other income
For the year ended

For the year ended
March 31, 2019
(refer note:53)
Interest income (refer note below) 278 329
Dividend income - 4,022
Income from resource sharing 554 253
Net gain on foreign currency transactions and translations 345 576
Liabilities/Provisions no longer payable written back 124 74
Profit on sale of property, plant and equiment (net) - 1
IT Infra Sharing 122 44
Net gain on financial instruments designated at FVTPL - 41
Profit on redemption of current investments - 1
Other miscellaneous income 143 49
Total 1,566 5,390
Note: Interest income comprises:

For the year ended
For the year ended
March 31, 2019
(refer note:53)
Interest income on:
Loan given to related party 83 61
Total 278 329
314
Disclosure of notes on finance cost explanatory [Text Block]
Note 36 : Finance cost
For the year ended

For the year ended
March 31, 2019
(refer note:53)
Interest expense
(i) Working capital facilities 613 312
(ii) Interest on foreign currency term loan 244 207
(iii) Interest on rupee term loan 116 -
(iv) Interest on delayed payment of statutory dues 1 -
(iii) Other borrowing costs 15 -
Total 989 519
315
Disclosure of notes on employee benefit expense explanatory [Text Block]
Employee benefits
Contribution paid/ payable to defined contribution plans comprises provident fund for certain employees covered under the
scheme are recognised in the profit or loss each year when employees have rendered services entitling them to the
contributions.
The Company’s Gratuity Scheme for its employees is a defined benefit retirement plan. Obligation under the gratuity scheme is
covered under a Scheme of Life Insurance Corporation of India (LIC) and contributions in respect of such scheme are recognized
in the profit or loss. The cost of providing benefits is determined using the projected unit credit method, with actuarial valuations
being carried out at the end of the period.
- service cost (including current service cost, past service cost, as well as gains and losses on curtailments and settlements);
- remeasurement
The Company presents the first two components of defined benefit costs in profit or loss in the line item ‘Employee benefits
expense’. Curtailment gains and losses are accounted for as past service costs. Net interest is calculated by applying the
discount rate at the beginning of the period to the net defined benefit liability or asset.
Remeasurement, comprising actuarial gain and losses, the effect of the changes to the asset celling (is applicable) and the return
on plan assets (excluding net interest), is reflected immediately in the balance sheet with a charge or credit recognised in the
comprehensive income in the period in which they occur. Re-measurement recognised in other comprehensive income is
reflected immediately in retained earnings and is not reclassified to profit or loss.
The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by
employees are recognised during the year when the employees render the service. These benefits include performance incentive
and compensated absences which are expected to occur within twelve months after the end of the period in which the employee
renders the related service. The cost of such compensated absences is accounted as under:
in case of accumulated compensated absences, when employees render the services that increase their entitlement of future
compensated absences; and
Compensated absences which are not expected to occur within twelve months after the end of the period in which the employee
renders the related services are recognised as an actuarially determined liability at the present value of the obligation at the
balance sheet date.
316
Disclosure of notes on depreciation, depletion and amortisation expense explanatory [Text Block]
Note 37 : Depreciation and amortization expense
For the year ended

For the year ended
March 31, 2019
(refer note:53)
Depreciation of property, plant and equipment (refer note no. 3A)

1,466 1,257
Amortisation of intangible assets (refer note no. 3B)

468 232
Less:
Depreciation / amortisation expenses transferred to intangible assets

under development: (refer note: 43b)
- Property, plant and equipment

112 10
- Intangible assets
- 9
Total
1,822 1,470
317
Disclosure of notes on other expenses explanatory [Text Block]
Note 38 : Other Expenses
For the year ended

For the year ended
March 31, 2019
(refer note:53)
Repairs and maintenance
Buildings
152 94
Plant and machinery

264 107
Others
419 302
Power & fuel expenses

393 347
Factory expenses
268 248
Lease rent
521 355
Insurance
277 211
Rates and taxes

79 79
Job work
69 53
Legal & professional expenses

3,072 2,304
Payment to auditors (refer note below)

37 30
Printing & stationery

39 38
Telephone & internet expenses

199 194
Stores, spares and consumables

305 -
Travel and conveyance

1,317 652
318
Advertisement and business promotion 287 136
Outsourced manpower cost

654 399
Director sitting fee

53 48
Obsolete stock written-off

88 1,062
Brand subscription fee

127 102
CSR contribution (refer note 43a)

19 26
Installation services
934 945
Stipend trainee
148 128
Security expenses
131 106
Customer claims
40 29
Provision for customer claims

14 97
Provision for onerous contracts

251 -
Loss on sale/retirement of property, plant and equipment (net)

36 -
Net loss on financials instruments designated at FVTPL

7 -
Provision for warranty

144 80
Provision for liquidated damages

86 48
Allowance for doubtful debts

23 41
Commission to Non-Executive Directors*

155 -
Miscellaneous expenditure
499 277
Total
11,107 8,538
* Subject to approval of shareholders by a Special Resoultion in the

ensuing General Meeting
319
Note: Payment to auditors
For the year ended

For the year ended
March 31, 2019
(refer note:53)
Payment to Auditor's comprises:
i) For audit
18 13
ii) For limited review

5 -
iii) For other services

2 16
iv) For certification

12 1
v) Reimbursement of expenses *
-
Total
37 30
*Amount less than Rs. One lakh
[613200] Notes - Cash flow statement

01/04/2018 01/04/2017
to to 31/03/2017
31/03/2019 31/03/2018
Disclosure of cash flow statement [TextBlock] [See below]
Cash and cash equivalents cash flow statement 761 2,826
(A) 1,789
Cash and cash equivalents 761 2,826
Income taxes paid (refund), classified as operating activities 566 475
Total income taxes paid (refund) 566 475
Footnotes
(A)
Cash and cash equivalents at the beginning of the year 1334
Add: Cash and cash eq acquired on Amalgamation 455
TOTAL 1789
320
Disclosure of cash flow statement [Text Block]
For the year

For the year ended
ended
March 31, 2018
March 31, 2019
(refer note:53)
Cash flow from operating activities
Profit before tax

4,043 (34)
Adjustments for:
Depreciation and amortization expense

1,822 1,470
Exceptional items (to the extent of non cash or non operating)

(3,811) 3,174
Net (gain)/loss on foreign currency transaction

(434) 251
Interest Income
(278) (329)
Dividend received from joint ventures

- (4,022)
Liabilities/provisions no longer required written back

(124) (74)
Loss / (gain) on sale of property, plant and equipment

36 (1)
Obsolete inventory written off

88 1,062
Net (gain)/loss on financial instruments designated at FVTPL

7 (41)
Allowance for doubtful debts

23 41
Provision for warranties

144 80
Provision for liquidated damages

86 48
Provision for customer claims

11 29
321
Provision for onerous contracts

251 -
Amortization of prepaid lease rent

50 27
Finance costs
989 519
2,903 2,200
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories
(2,535) (2,549)
Trade receivables
1,743 (1,653)
Other financial assets

(1,901) (727)
Other assets
1,012 (18)
Trade payables
1,323 2,816
Other liabilities
(7,710) 2,521
Provisions
274 (81)
Other financial liabilities

(4) 9
Cash generated from operations

(4,895) 2,518
Income taxes paid (net of refunds)

(566) (475)
Net cash flow from / (used in) operating activities (A)

(5,461) 2,043
Cash flow from investing activities
Capital expenditure on property, plant and equipment

(14,737) (4,959)
Proceeds from sale of property, plant and equipment *

9
322
Proceeds from sale of current investments

- 32
Interest income received

295 214
Investment in subsidiary
(53,835) (1,000)
Loans given to related parties

(1,037) (65)
Dividend received from subsidiary

- 4,022
Other bank balances (security deposits having maturity for more than 3 months)
- Deposits placed
- (23,983)
- Deposits matured
7,231 18,862
Deposits having original maturity more than 12 months
- Deposits placed
(2) (3)
Net cash flow used in investing activities (B)

(62,076) (6,880)
Cash flow from financing activities
Proceeds from issue of equity shares (including securities premium)

- 6,123
Receipt of share application money pending allotment

53,335 -
Proceeds of long term borrowings

14,000 (1,452)
Repayment of long term borrowings

(1,911) -
Net increase in working capital

950 1,677
Interest expenses paid

(945) (512)
Net cash flow from financing activities (C )

65,429 5,836
Net (decrease)/ increase in cash and cash equivalents (A+B+C)

(2,108) 999
323
Cash and cash equivalents at the beginning of the year 2,826 1,334
Add: Cash and cash equivalents as on April 1, 2017 acquired on Amalgamation

(refer note 53) 455
Effect of exchange differences on restatement of foreign currency cash and cash

equivalents 43 38
Cash and cash equivalents at the end of the year (refer note 13)
761 2,826
[500200] Notes - Additional information statement of profit and loss

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Additional information on profit and loss account explanatory [TextBlock] [See below]
Changes in inventories of finished goods (A) 90 (B) -475
Changes in inventories of work-in-progress (C) -3,035 (D) -1,938
Total changes in inventories of finished goods, work-in-progress and
-2,945 -2,413
stock-in-trade
Exceptional items before tax 4,307 -5,106
Total exceptional items 4,307 -5,106
Details of nature of exceptional items [See below] [See below]
Domestic sale manufactured goods 39,671 25,141
Domestic sale traded goods 0 0
Total domestic turnover goods, gross 39,671 25,141
Total revenue from sale of products 39,671 25,141
Domestic revenue services 3,623 2,201
Export revenue services 0 0
Total revenue from sale of services 3,623 2,201
Capital expenditure in foreign currency 0 0
Gross value of transaction with related parties 0 0
Bad debts of related parties 0 0
324
Footnotes
(A)
Opening Stock 475
Closing Stock 385
NET 90
(B)
Opening Stock 0
Closing Stock 475
NET - 475
(C)
Opening Stock
Work in progress 5825
Less: Transitional impact of IND AS 115 as at April 1, 2018 -2011
Less: WIP Stock scrapped - 100
TOTAL 3714
Closing stock 6749
NET - 3035
(D)
Opening Stock
Work in progress 3887
Less: Transitional impact of IND AS 115 as at April 1, 2018 - 0
Less: WIP Stock scrapped - 0
TOTAL 3887
Closing stock 5825
NET - 1938
325
Additional information on profit and loss account explanatory [Text Block]

Note 30 : Revenue from operations
For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Sale of goods 39671 25141
Sale of services 3623 2201
Other operating revenue (refer note below) 7810 9554
Total 51104 36896
Note: Other operating revenue:

For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Revenue - tooling 4259 2153
Export incentives 857 1650
Technical assistance and management services 2119 2130
Freight and Insurance recovered from customers 0 1
Revenue from other services 575 3620
Total 7810 9554
Note 31 : Other income

For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Interest income (refer note below) 278 329
Dividend income 0 4022
Income from resource sharing 554 253
Net gain on foreign currency transactions and translations 345 576
Liabilities/Provisions no longer payable written back 124 74
Profit on sale of property, plant and equiment (net) 0 1
IT Infra Sharing 122 44
Net gain on financial instruments designated at FVTPL 0 41
Profit on redemption of current investments 0 1
Other miscellaneous income 143 49
Total 1566 5390
Note: Interest income comprises:

For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Interest income on:
Loan given to related party 83 61
Total 278 329
Note 32 : Cost of materials consumed
326
For the year

For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Direct materials 26407 16234
Indirect materials 551 468
Others 2078 620
Total 29036 17322
Note 33 : Purchases of stock-in-trade

For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Purchase of equipments for homeland security solutions 1646 1786
Total 1646 1786
Note 34 : Changes in inventories of finished goods, work-in-progress

For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Closing Stock:
Work in progress 6749 5825
(A) 7134 6300
Opening Stock:
Work in progress 5825 3887
Less: Transitional impact of Ind AS 115 as at April 01, 2018 -2011 0
Less: WIP Stock scrapped -100 0
3714 3887
(B) 4189 3887
Changes in Inventories of finished goods, work-in-progress (B-A) -2945 -2413
Note 35 : Employee benefits expense

For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Salaries, wages, allowance, and other benefits 9599 8536
Contribution to provident and other funds 634 551
Gratuity expenses 20 30
Staff welfare expenses 1026 875
Total 11279 9992
Note 36 : Finance cost

For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Interest expense
(i) Working capital facilities 613 312
(ii) Interest on foreign currency term loan 244 207
(iii) Interest on rupee term loan 116 0
(iv) Interest on delayed payment of statutory dues 1 0
327
(iii) Other borrowing costs 15 0

Total 989 519
Note 37 : Depreciation and amortization expense

For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Depreciation of property, plant and equipment (refer note no. 3A) 1466 1257
Amortisation of intangible assets (refer note no. 3B) 468 232
Less:
Depreciation / amortisation expenses transferred to intangible assets under development:
(refer note: 43b)
- Property, plant and equipment 112 10
- Intangible assets 0 9
Total 1822 1470
Note 38 : Other Expenses
For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Repairs and maintenance
Buildings 152 94
Plant and machinery 264 107
Others 419 302
Power & fuel expenses 393 347
Factory expenses 268 248
Lease rent 521 355
Insurance 277 211
Rates and taxes 79 79
Job work 69 53
Legal & professional expenses 3072 2304
Payment to auditors (refer note below) 37 30
Printing & stationery 39 38
Telephone & internet expenses 199 194
Stores, spares and consumables 305 0
Travel and conveyance 1317 652
Advertisement and business promotion 287 136
Outsourced manpower cost 654 399
Director sitting fee 53 48
Obsolete stock written-off 88 1062
Brand subscription fee 127 102
CSR contribution (refer note 43a) 19 26
Installation services 934 945
Stipend trainee 148 128
Security expenses 131 106
Customer claims 40 29
Provision for customer claims 14 97
Provision for onerous contracts 251 0
Loss on sale/retirement of property, plant and equipment (net) 36 0
Net loss on financials instruments designated at FVTPL 7 0
Provision for warranty 144 80
Provision for liquidated damages 86 48
Allowance for doubtful debts 23 41
328
Commission to Non-Executive Directors* 155 0

Miscellaneous expenditure 499 277
Total 11107 8538
* Subject to approval of shareholders by a Special Resoultion in the ensuing General Meeting
Note: Payment to auditors

For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
Payment to Auditor's comprises:
i) For audit 18 13
ii) For limited review 5 0
iii) For other services 2 16
iv) For certification 12 1
v) Reimbursement of expenses * 0
Total 37 30
Note 39 : Exceptional items
For the year
For the year
ended
Particulars ended
March 31, 2018
March 31, 2019
(refer note:53)
i) (Reversal)/Provision for obsolete inventory -2209 2439
ii) (Reversal)/Provision of supplier claims for purchases -1325 1627
iii) Impairement of tangible assets 0 229
iv) Provision for impairment of tangible assets (net off impairment written off Rs. 66 lakhs) -163 0
v) Provision for dobutful receivables 0 74
vi) Intangible assets written off 0 432
vii) Trade payables written back -114 0
viii) Compensation received on settlement -496 0
ix) Other expenses 0 626
x) Reversal of liquidated damages provided for in an earlier year 0 -321
Total -4307 5106
329
Details of nature of exceptional items
For the year ended

For the year ended
March 31, 2019
(refer note:53)
i) (Reversal)/Provision for obsolete inventory

(2,209) 2,439
ii) (Reversal)/Provision of supplier claims for purchases

(1,325) 1,627
iii) Impairement of tangible assets

- 229
iv) Provision for impairment of tangible assets (net off impairment written
off Rs. 66 lakhs) (163) -
v) Provision for dobutful receivables

- 74
vi) Intangible assets written off

- 432
vii) Trade payables written back

(114) -
viii) Compensation received on settlement

(496) -
ix) Other expenses

- 626
x) Reversal of liquidated damages provided for in an earlier year

- (321)
Total
(4,307) 5,106
330
Details of nature of exceptional items
For the year ended

For the year ended
March 31, 2019
(refer note:53)
i) (Reversal)/Provision for obsolete inventory

(2,209) 2,439
ii) (Reversal)/Provision of supplier claims for purchases

(1,325) 1,627
iii) Impairement of tangible assets

- 229
iv) Provision for impairment of tangible assets (net off impairment written
off Rs. 66 lakhs) (163) -
v) Provision for dobutful receivables

- 74
vi) Intangible assets written off

- 432
vii) Trade payables written back

(114) -
viii) Compensation received on settlement

(496) -
ix) Other expenses

- 626
x) Reversal of liquidated damages provided for in an earlier year

- (321)
Total
(4,307) 5,106
331
[611200] Notes - Fair value measurement

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of assets [TextBlock]
Whether assets have been measured at fair value No No
Disclosure of fair value measurement of liabilities [TextBlock]
Whether liabilities have been measured at fair value No No
Disclosure of fair value measurement of equity [TextBlock]
Whether equity have been measured at fair value No No
[613300] Notes - Operating segments
Disclosure of reportable segments [Table] ..(1)

Entity's reportable segments [Axis] Reportable segments 1 [Member] Reportable segments 2 [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of reportable segments [Abstract]
Disclosure of reportable segments [Line items]
Nature of reportable segment AEROSTRUCTURES AEROSTRUCTURES DEFENCE DEFENCE
Revenue primary reportable segment 45,381 34,032 5,723 2,863
Revenues from transactions with other
680 4,708 608 361
operating segments of the same entity
Total revenues from external customers and
transactions with other reportable segments 46,061 38,740 6,331 3,224
of same enterprise reportable segment
Profit (loss) before tax reportable segment 10,266 4,997 -3,408 -3,015
Profit (loss) reportable segment 10,266 0 -3,408 0
Assets reportable segment 1,32,578 70,923 34,861 27,750
Liabilities reportable segment 24,369 30,891 4,031 4,155
Disclosure of reportable segments [Table] ..(2)

Entity's reportable segments [Axis] Reportable segments 3 [Member]
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of reportable segments [Abstract]
Disclosure of reportable segments [Line items]
Unallocable Income Unallocable Income /
Nature of reportable segment / Expense Expense
Revenue primary reportable segment 0 0
Revenues from transactions with other operating segments of the same entity 0
Total revenues from external customers and transactions with other
0 0
reportable segments of same enterprise reportable segment
Profit (loss) before tax reportable segment 0 0
Profit (loss) reportable segment 0 0
Assets reportable segment 0 0
Liabilities reportable segment 0 0
332

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of entity's operating segments [TextBlock] [See below]
Disclosure of reportable segments [TextBlock]
Whether there are any reportable segments Yes Yes
Disclosure of major customers [TextBlock]
Whether there are any major customers No No
333
Disclosure of entity's operating segments [Text Block]
(in Indian Rupees (Lakhs), unless otherwise stated)
Note 47: Operating Segments
The Company has identified two main reportable segments -(i)

Aerostructures and (ii) Defence & Security considering that the chief
operating decision maker reviews both the segments separately to
make decisions about the resources to be allocated and assess its
performance.The accounting policies adopted for segment reporting are
in line with the accounting policy of the Company with following
additional policies for segment reporting.
Segment Information:
Unallocable
Particulars Aerostructures* Defence*^ Total ^
/ Others
Revenue from operations 45381 5723 0 51104
34032.29361 2863.46019 0 36895.7538
Other income 680 608 1288
4708.476152 361.3228712 5069.799023
Segment revenue 0
Segment Expense 0
Inter Segment Expense 0
334
Segment results before exceptional items 5959 -3408 0 2551
10424 -3336 0 7088
Exceptional Item -4307 0 0 -4307
5427 -321 0 5106
Segment results after exceptional items 10266 -3408 0 6858
4997 -3015 0 1982
Unallocable Income / (Expenses)
Other Income - Interest income 0 0 0 278
0 0 0 320
Other Expenses 0 0 -2105
0 0 -1817
Less: Finance costs 0 0 -989
0 0 -519
Profit before Extraordinary Items & Tax
Profit Before Tax 0 0 0 4043
0 0 0 -34
Less: Tax expense 0 0 0 637
0 0 0 -1228
335
Profit after tax 0 0 0 3406
0 0 0 1194
Segment assets
- As at March 31, 2019 132578 34861 0 167439
- As at March 31, 2018 70923 27750 0 98673
Segment liabilities
- As at March 31, 2019 24369 4031 0 28400
- As at March 31, 2018 30891 4155 0 35046
Unallocated - assets
- As at March 31, 2019 0 0 0 3676
- As at March 31, 2018 0 0 0 9981
Unallocated - liabilities
- As at March 31, 2019 0 0 0 934
- As at March 31, 2018 0 0 0 687
Borrowings
- As at March 31, 2019 0 26166
- As at March 31, 2018 0 13403
Capital expenditure
- As at March 31, 2019 10406 3408 0 13814
- As at March 31, 2018 894 2572 0 3466
Unallocated Capital expenditure
- As at March 31, 2019 0 0 0
336
- As at March 31, 2018 0 0 0 0
Segment depreciation 1273 549 0 1822
1172 298 0 1470
Note : figures in italics relate to previous year
* The reportable Segments are further described below :

- The Aerostructures Segment includes, manufacturing and assembly of
Aerostructures and tooling and related services.
- Defence Segment includes, Defence & Security Products, UAV
systems and related services.
^ Refer note 53 which describes the merger of TASEC Limited with the
Company.
Expenditure 0
Exceptional item 0
[610700] Notes - Business combinations
Disclosure of detailed information about business combination [Table] ..(1)

Business combinations [Axis] 1
01/04/2018
to
31/03/2019
Disclosure of detailed information about business combination [Abstract]
Disclosure of detailed information about business combination [Line items]
Name of acquiree TASEC LIMITED
Date of acquisition 01/04/2018
Percentage of voting equity interests acquired 100.00%
Acquisition-date fair value of total consideration transferred [Abstract]
Cash transferred 0
Total consideration transferred, acquisition-date fair value 0
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities
assumed [Abstract]
Financial assets recognised as of acquisition date 5,872
Financial liabilities recognised as of acquisition date 3,446
Net identifiable assets acquired (liabilities assumed) 2,426
Name of acquiree TASEC LIMITED
337

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018

Disclosure of business combinations [TextBlock] [See below] .
Whether there is any business combination Yes No

Disclosure of detailed information about business combinations [TextBlock]
Disclosure of reconciliation of changes in goodwill [TextBlock]
Whether there is any goodwill arising out of business combination No No
Disclosure of transactions recognised separately from acquisition
of assets and assumption of liabilities in business combination
[TextBlock]
Disclosure of acquired receivables [TextBlock]
Whether there are any acquired receivables from business combination No No
Disclosure of contingent liabilities in business combination [TextBlock]
Whether there are any contingent liabilities in business combination No No
338
Disclosure of business combinations [Text Block]
Note 53: Amalgamation of TASEC Limited
The Board of Directors of the Company at its meeting held on January 29, 2019 had approved a Scheme of
Amalgamation (“the Scheme”) of its wholly owned subsidiary TASEC Limited (“the Transferor Company”) with TATA
Advanced Systems Limited (“the Transferee Company”/"the Company") with an appointed date of April 1, 2018. The
Office of the Regional Director (“ROC”), South East Region, Hyderabad has passed an order approving the said scheme
on May 6, 2019 and thereafter the Transferee Company and Transferor Company filed the copy of the approved copy of
the Scheme with the Registrar of Companies on May 7, 2019. The Company has given effect to the Scheme and since
the above transaction results in a common control business combination the amalgamation has been accounted under
the ‘pooling of interests’ method based on the carrying value of the assets and liabilities of the Transferor Company as
included in the Consolidated Balance Sheet of the Company as at the beginning of April 1, 2017.
Considering the requirements of Ind AS 103 - Business Combinations, the accounting for the transaction has been given
effect retrospectively by the Company. Accordingly, the financial statements for the corresponding periods in 2017-18
have been restated to give effect of the above Scheme.
Summary of net assets as at April 1, 2017
Particulars Amount
Assets
Non-current assets
Property, plant and equipment 163
Intangible assets 4
Financial assets - others 58
Deferred tax assets (net) 198
Current assets
Investments 32
Other bank balances 7
Financial assets - others 1286
Other current assets 340
Total (A) 5872
Liabilities
Non-current liabilities
Long-term provisions 129
339
Current liabilities
Borrowings 903
Trade payables 1193
Financial liabilities - others 10
Other current liabiltiies 787
Short-term Provisions 394
Current tax liabilities (net) 30
Total (B) 3446
Net Assets at book values as at April 1, 2017 (C) = (A) - (B) 2426
Less: Carrying value of investments in TASEC Limited (D) 742
Adjustment to Retained Earnings (E) = (C) - (D) 1684
Summary of profit and loss account for the year ended March 31, 2018
Particulars Amount
Revenue from operations 2743
Other income 13
Total income (A) 2756
Purchases of stock-in-trade 1786
Changes in inventories of finished goods and work-in-progress -288
Employee benefits expense 1199
Finance costs 141
Depreciation and amortisation expense 120
Other expenses 1544
Total expenses (B) 4502
Loss before exceptional items (C) = (A) - (B) -1746
Exceptional items (D) -321
Loss after exceptional items (E) = (C) - (D) -1425
Tax Expense
Deferred tax (F) 69
Loss for the year (G) = (E) - (F) -1494
340
Other comprehensive income
Items that will not be reclassified to profit or loss
(i) Re-measurements of the net defined benefits plans -35
(ii) Income tax relating to items that will not be reclassified to profit or loss 12
Other comprehensive loss, net of tax (H) = (i) + (ii) -23
Total comprehensive loss for the year (I) = (G) - (H) -1471
[611500] Notes - Interests in other entities
Disclosure of joint ventures [Table] ..(1)

Joint ventures [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of joint ventures [Abstract]
Disclosure of joint ventures [Line
items]
TATA SIKORSKY TATA SIKORSKY M A R T I N MARTIN
Name of joint venture AEROSPACE LIMITED AEROSPACE LIMITED AEROSTRUCTURES AEROSTRUCTURES
LIMITED LIMITED
Country of incorporation of joint
venture
CIN of joint venture U74990TG2008PLC077969 U74990TG2008PLC077969 U29268TG2010PLC077940 U29268TG2010PLC077940
Proportion of ownership interest in
joint 74.00% 74.00% 74.00% 74.00%
venture
Proportion of voting rights held in
joint 74.00% 74.00% 74.00% 74.00%
venture

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
items]
TATA BOEING TATA B O E I N G HELA SYSTEMS HELA SYSTEMS
Name of joint venture AEROSPACE LIMITED AEROSPACE LIMITED PRIVATE LIMITED PRIVATE LIMITED
venture
CIN of joint venture U74120TG2015PLC101585 U74120TG2015PLC101585 U31909TG2004PTC042753 U31909TG2004PTC042753
joint 51.00% 51.00% 74.00% 74.00%
venture
joint 51.00% 51.00% 74.00% 74.00%
venture
341
Disclosure of details of subsidiaries [Table] ..(1)

Subsidiaries [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of subsidiaries [Abstract]
Disclosure of subsidiaries [Line
items]
AURORA INTEGRATED T A S L AURORA INTEGRATED
TATA BOEING
Name of subsidiary SYSTEMS PRIVATE
AEROSPACE LIMITED
AEROSTRUCTURES SYSTEMS PRIVATE
LIMITED PRIVATE LIMITED LIMITED
Principal place of business of
Hyderabad INDIA Mumbai INDIA
subsidiary
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
subsidiary
Permanent account number of
subsidiary AAGCA1724L AAFCT5584J AADCT1064D AAGCA1724L
company
CIN of subsidiary company U74120KA2006PTC082507 U74120TG2015PLC101585 U29119MH2008PTC187825 U74120KA2006PTC082507
Section under which company
Section 2(87)(ii) Section 2(87)(ii) Section 2(87)(ii) Section 2(87)(ii)
became subsidiary
Whether subsidiary has filed
No No No No
balance sheet
Reason if no filing has been made
by In process of filing Filed In process of filing Filed
subsidiary
Whether financial year of
subsidiary
No No No No
different from financial year of
holding company
Financial year of subsidiary
[Abstract]
Start date of accounting period
of 01/04/2018 01/04/2017 01/04/2018 01/04/2017
subsidiary
End date of accounting period of
31/03/2019 31/03/2018 31/03/2019 31/03/2018
subsidiary
Description of reason why using
different reporting date or period
NA NA
for
subsidiary
Percentage of shareholding in
100.00% 51.00% 100.00% 100.00%
subsidiary
Key information about subsidiary
[Abstract]
Reporting currency of subsidiary
INR INR INR INR
Exchange rate as applicable for RBI rate for INR

INR INR RBI rate for INR Applicable
subsidiary Applicable
Share capital of subsidiary 4 150 5 0.04
Reserves and surplus of
-71 -11.84 -12 0.23
subsidiary
Total assets of subsidiary 1,289 229.36 0 12.31
Total liabilities of subsidiary 1,356 91.2 0 12.04
Investment of subsidiary 0 60.5 0 0
Turnover of subsidiary 9 48.27 0 0.63
Profit before tax of subsidiary -96 -0.46 -1 -0.46
Provision for tax of subsidiary 0 0 0 0
Profit after tax of subsidiary -96 -0.46 -1 -0.46
Proposed dividend of subsidiary 0 0 0 0
Current assets of subsidiary 300 5
Non-current assets of subsidiary 989 0
Current liabilities of subsidiary 1,354 12
Non-current liabilities of
2 0
subsidiary
342
Revenue of subsidiary 60 0
Comprehensive income of
2 0
subsidiary
Proportion of ownership interests
held by 0.00% 0.00%
non-controlling interests
Proportion of voting rights held by
0.00% 0.00%
Profit (loss), attributable to
0 0
Non-controlling interests of
0 0
subsidiary
Dividends paid to non-controlling
0 0
interests
TATA BOEING
AEROSPACE LIMITED
subsidiary
subsidiary
subsidiary AAGCA1724L AAFCT5584J AADCT1064D AAGCA1724L
company
343

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of subsidiaries [Line
items]
T A S L
NOVA INTEGRATED TAL MANUFACTURING NOVA INTEGRATED
Name of subsidiary SYSTEMS LIMITED
AEROSTRUCTURES
SOLUTIONS LIMITED SYSTEMS LIMITED
PRIVATE LIMITED
Hyderabad INDIA Pune INDIA
subsidiary
subsidiary
subsidiary AACCH0670G AADCT1064D AABCT1342E AACCH0670G
company
CIN of subsidiary company U74990TG2008PLC099481 U29119MH2008PTC187825 U29100PN2000PLC130290 U74990TG2008PLC099481
Section under which company
Section 2(87)(ii) Section 2(87)(ii) Section 2(87)(ii) Section 2(87)(ii)
became subsidiary
Whether subsidiary has filed
No No No No
balance sheet
Reason if no filing has been made
by In process of filing Filed In process of filing Filed
subsidiary
Whether financial year of
subsidiary
No No No No
different from financial year of
holding company
Financial year of subsidiary
[Abstract]
Start date of accounting period of
01/04/2018 01/04/2017 01/04/2018 01/04/2017
subsidiary
End date of accounting period of
31/03/2019 31/03/2018 31/03/2019 31/03/2018
subsidiary
Description of reason why using
different reporting date or period
NA NA
for
subsidiary
Percentage of shareholding in
100.00% 100.00% 100.00% 100.00%
subsidiary
Key information about subsidiary
[Abstract]
Reporting currency of subsidiary INR INR INR INR
Exchange rate as applicable for RBI rate for INR
INR RBI rate for INR Applicable INR
subsidiary Applicable
Share capital of subsidiary 12,075 0.05 11,500 115.75
Reserves and surplus of
-12,565 -0.11 4,612 -105.86
subsidiary
Total assets of subsidiary -12,565 0.05 4,612 46.37
Total liabilities of subsidiary 8,907 0.11 47,360 36.48
Investment of subsidiary 0 0 0 0
Turnover of subsidiary 3,660 0 0 7.64
Profit before tax of subsidiary -1,989 -0.01 0 -12.97
Provision for tax of subsidiary 0 0 0 0
Profit after tax of subsidiary -1,989 -0.01 0 -12.97
Proposed dividend of subsidiary 0 0 0 0
Current assets of subsidiary 5,796 24,796
Non-current assets of subsidiary 2,527 38,676
Current liabilities of subsidiary 4,839 23,401
Non-current liabilities of
4,068 0
subsidiary
Revenue of subsidiary 4,242 0
344
Comprehensive income of
9 0
subsidiary
Proportion of ownership interests
held by 0.00% 0.00%
Proportion of voting rights held by
0.00% 0.00%
Profit (loss), attributable to
0 0
Non-controlling interests of
0 0
subsidiary
Dividends paid to non-controlling
0 0
interests
T A S L
AEROSTRUCTURES
PRIVATE LIMITED
subsidiary
subsidiary
subsidiary AACCH0670G AADCT1064D AABCT1342E AACCH0670G
company
345

Subsidiaries [Axis] 5
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of subsidiaries [Line items]
Name of subsidiary TASEC LIMITED TASEC LIMITED
Principal place of business of subsidiary India INDIA
Country of incorporation or residence of subsidiary INDIA INDIA
Permanent account number of subsidiary company AADCT1062F AADCT1062F
CIN of subsidiary company U72900MH2008PLC188713 U72900MH2008PLC188713
Section under which company became subsidiary Section 2(87)(ii) Section 2(87)(ii)
Whether subsidiary has filed balance sheet No No
Reason if no filing has been made by subsidiary Business combination Filed
Whether financial year of subsidiary different from financial year of holding
No No
company
Financial year of subsidiary [Abstract]
Start date of accounting period of subsidiary 01/04/2018 01/04/2017
End date of accounting period of subsidiary 31/03/2019 31/03/2018
Description of reason why using different reporting date or period for
NA
subsidiary
Percentage of shareholding in subsidiary 100.00% 100.00%
Key information about subsidiary [Abstract]
Reporting currency of subsidiary INR INR
Exchange rate as applicable for subsidiary INR RBI rate for INR Applicable
Share capital of subsidiary 0 0.13
Reserves and surplus of subsidiary 0 9.41
Total assets of subsidiary 0 49.49
Total liabilities of subsidiary 0 39.95
Investment of subsidiary 0 0
Turnover of subsidiary 0 27.43
Profit before tax of subsidiary 0 -14.27
Provision for tax of subsidiary 0 0.69
Profit after tax of subsidiary 0 -14.96
Proposed dividend of subsidiary 0 0
Current assets of subsidiary 0
Non-current assets of subsidiary 0
Current liabilities of subsidiary 0
Non-current liabilities of subsidiary 0
Revenue of subsidiary 0
Comprehensive income of subsidiary 0
Proportion of ownership interests held by non-controlling interests 0.00%
Proportion of voting rights held by non-controlling interests 0.00%
Profit (loss), attributable to non-controlling interests 0
Non-controlling interests of subsidiary 0
Dividends paid to non-controlling interests 0
346

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of interests in other entities [TextBlock]
Disclosure of interests in subsidiaries [TextBlock]
Disclosure of subsidiaries [TextBlock]
Whether company has subsidiary companies Yes Yes
Number of subsidiary companies [pure] 5 [pure] 5
Whether company has subsidiary companies which are yet to commence
No No
operations
Whether company has subsidiary companies liquidated or sold during
No No
year
Disclosure of interests in associates [TextBlock]
Disclosure of associates [TextBlock]
Whether company has invested in associates No No
Whether company has associates which are yet to commence operations No No
Whether company has associates liquidated or sold during year No No
Disclosure of interests in joint arrangements [TextBlock]
Disclosure of joint ventures [TextBlock]
Whether company has invested in joint ventures Yes Yes
Whether company has joint ventures which are yet to commence
No No
operations
Whether company has joint ventures liquidated or sold during year No No
Disclosure of interests in unconsolidated structured entities [TextBlock]
Disclosure of unconsolidated structured entities [TextBlock]
Whether there are unconsolidated structured entities No No
Disclosure of investment entities [TextBlock]
Disclosure of information about unconsolidated subsidiaries [TextBlock]
Whether there are unconsolidated subsidiaries No No
Disclosure of information about unconsolidated structured entities
controlled by investment entity [TextBlock]
Whether there are unconsolidated structured entities controlled by
No No
investment entity
[611400] Notes - Separate financial statements
Disclosure of subsidiaries [Table] ..(1)

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018

TATA BOEING
AEROSPACE LIMITED
AAGCA1724L AAFCT5584J AADCT1064D AAGCA1724L
subsidiary company
subsidiary
subsidiary
100.00% 51.00% 100.00% 100.00%
subsidiary
100.00% 51.00% 100.00% 100.00%
subsidiary
347

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
T A S L
AEROSTRUCTURES
PRIVATE LIMITED
AACCH0670G AADCT1064D AABCT1342E AACCH0670G
subsidiary company
subsidiary
subsidiary
100.00% 100.00% 100.00% 100.00%
subsidiary
100.00% 100.00% 100.00% 100.00%
subsidiary

Subsidiaries [Axis] 5
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Proportion of ownership interest in subsidiary 100.00% 100.00%
Proportion of voting rights held in subsidiary 100.00% 100.00%

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
items]
TATA SIKORSKY TATA SIKORSKY M A R T I N MARTIN
Name of joint venture AEROSPACE LIMITED AEROSPACE LIMITED AEROSTRUCTURES AEROSTRUCTURES
LIMITED LIMITED
CIN of joint venture U74990TG2008PLC077969 U74990TG2008PLC077969 U29268TG2010PLC077940 U29268TG2010PLC077940
venture
joint 74.00% 74.00% 74.00% 74.00%
venture
joint 74.00% 74.00% 74.00% 74.00%
venture
348

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
items]
TATA BOEING TATA B O E I N G HELA SYSTEMS HELA SYSTEMS
Name of joint venture AEROSPACE LIMITED AEROSPACE LIMITED PRIVATE LIMITED PRIVATE LIMITED
CIN of joint venture U74120TG2015PLC101585 U74120TG2015PLC101585 U31909TG2004PTC042753 U31909TG2004PTC042753
venture
joint 51.00% 51.00% 74.00% 74.00%
venture
joint 51.00% 51.00% 74.00% 74.00%
venture

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of separate financial statements [TextBlock]
Disclosure of subsidiaries [TextBlock]
Disclosure of joint ventures [TextBlock]
Method used to account for investments in subsidiaries [See below] [See below]
Method used to account for investments in joint ventures [See below] [See below]
Method used to account for investments in subsidiaries

349
Method used to account for investments in subsidiaries

Method used to account for investments in joint ventures

TATA Sikorsky Aerospace Limited - 37,999,999 (March 31, 2018 : 37,999,999) Equity shares of
TATA Lockheed Martin Aerostructures Limited - 1,218,739 (March 31, 2018 :1,218,739) Equity
TATA Boeing Aerospace Limited -76,500,000 (March 31, 2018: 76,500,000 ) Equity Shares of Rs.
10 each fully paid up 7,650 7,650
HELA Systems Private Limited - 148,000 (March 31, 2018 : 148,000) Equity shares of Rs.10 each
fully paid up 2,027 2,027
25,664 25,664
Method used to account for investments in joint ventures

TATA Sikorsky Aerospace Limited - 37,999,999 (March 31, 2018 : 37,999,999) Equity shares of
TATA Lockheed Martin Aerostructures Limited - 1,218,739 (March 31, 2018 :1,218,739) Equity
TATA Boeing Aerospace Limited -76,500,000 (March 31, 2018: 76,500,000 ) Equity Shares of Rs.
10 each fully paid up 7,650 7,650
HELA Systems Private Limited - 148,000 (March 31, 2018 : 148,000) Equity shares of Rs.10 each
fully paid up 2,027 2,027
25,664 25,664
350
[610800] Notes - Related party
Disclosure of transactions between related parties [Table] ..(1)

Categories of related parties [Axis] Parent [Member] Subsidiaries [Member]
Related party [Axis] 1 2
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
TATA SONS PRIVATE TATA SONS PRIVATE Nova Integrated Nova Integrated
Name of related party LIMITED LIMITED Systems Limited Systems Limited
Country of incorporation or residence of
INDIA INDIA
related party
CIN of related party U99999MH1917PTC000478 U99999MH1917PTC000478
Brand subscription fees, Brand subscription fees,
Receipt of share application Receipt of share application
money, Reimbursement of money, Reimbursement of T e x t u a l
Description of nature of transactions with Textual information
expenditure by the company expenditure by the company information (89)
related party (90) [See below]
to , Transfer of gratuity and to , Transfer of gratuity and [See below]
leave encashment from leave encashment from
group companies group companies
Description of nature of related party
Holding company Holding company Subsidiaries Subsidiaries
relationship
Related party transactions [Abstract]
Revenue from sale of goods related party
8,505 3,182
transactions
Services received related party transactions (A) 1 (B) 6 (C) 39
Revenue from rendering of services related
(D) 632 (E) 276
party transactions
Other related party transactions
(F) 127 (G) 102 (H) 1,000 (I) 1,000
contribution made
(J) 53,339 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 (K) 7 (L) 80
Amounts receivable related party transactions 0 0 (M) 1,011 (N) 263
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction
351
Footnotes
(A)
Other services availed 1
(B)
resource sharing 0
(C)
resource sharing 11
(D)
Insurance cost sharing 8
Other services rendered 170
Technical and manpower assistance 454
(E)
(F)
brand subscription fee 127
(G)
brand subscription fee 102
(H)
Investment in share capital 500
loans given 500
(I)
Investment in share capital 1000
(J)
Receipt of share application money 53335
Transfer of gratuity and leave encashment from 4
(K)
Trade and other payables 7
(L)
(M)
Loans receivables 500
Trade & other receivables 511
(N)
352

Categories of related parties [Axis] Subsidiaries [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TASL Aurora Integrated Aurora Integrated
TASL Aerostructures
Name of related party Aerostructures
Private Limited
Systems Private Systems Private
Private Limited Limited Limited
Purchase of Goods ,
Purchase of Goods ,
Purchase of
Purchase of property,
property, plant and
plant and equipment
Description of nature of transactions with equipment and
and intangible asset ,
related party intangible asset ,
Loans given, Services
Loans given,
rendered , Interest
Services rendered ,
income
Interest income
Subsidiaries Subsidiaries Subsidiaries Subsidiaries
relationship
Purchases of goods related party transactions 8
Purchases of property and other assets,
57
(A) 17 (B) 8
party transactions
(C) 537 (D) 65
contribution made
0 0 0 0
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 (E) 9 (F) 1,145 (G) 784
0 0 0 0
0 0 0 0
transaction
transaction
353
Footnotes
(A)
Other services rendered
(B)
(C)
loans given 537
(D)
loans given 65
(E)
(F)
(G)
354

Categories of related parties [Axis] Subsidiaries [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TAL Manfacturing TAL Manfacturing TASEC Limited TASEC Limited
Solutions Limited Solutions Limited (merged with the (merged with the
Name of related party (subsidiary w.e.f. (subsidiary w.e.f. Company - refer Company - refer note
March 29, 2019) March 29, 2019) note 53) 53)
Reimbursement of Reimbursement of
expenditure by the expenditure by the
Description of nature of transactions with company to, company to,
related party Reimbursement of Reimbursement of
expenditure by other expenditure by other
group Companies group Companies
Subsidiaries Subsidiaries Subsidiaries Subsidiaries
relationship
0 0 0 0
Amounts payable related party transactions (A) 58 0 0 0
Amounts receivable related party transactions (B) 74 0 0 0
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
(B)
355

Categories of related parties [Axis] Joint ventures where entity is venturer [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Lockheed
TATA Lockheed
Martin TATA Sikorsky TATA Sikorsky
Name of related party Aerostructures
Martin Aerostructures
Aerospace Limited Aerospace Limited
Limited
Limited
Description of nature of transactions with Textual information Textual information Textual information Textual information
related party (91) [See below] (92) [See below] (93) [See below] (94) [See below]
Joint Ventures Joint Ventures Joint Ventures Joint Ventures
relationship
Purchases of goods related party transactions 11,589 6,787
12
Services received related party transactions 0 (A) 1
(B) 1,395 (C) 834 (D) 237 (E) 264
party transactions
Other related party transactions income 0 (F) 4,022
(G) 5 (H) 21 (I) 18 (J) 38
contribution made
(K) 19 (L) 49 (M) 43 (N) 44
Amounts payable related party transactions (O) 6 (P) 22 (Q) 1,381 (R) 1,726
Amounts receivable related party transactions (S) 164 (T) 165 (U) 229 (V) 2,824
0 0 0 0
0 0 0 0
transaction
transaction
356
Footnotes
(A)
(B)
I.T Infrastructure Sharing 40
Staff transportation 0
(C)
(D)
(E)
(F)
dividend received 4022
(G)
Transfer of gratuity and leave encashment to 5
(H)
(I)
(J)
(K)
(L)
(M)
(N)
357
(O)
(P)
(Q)
(R)
(S)
(T)
(U)
Advance to vendors 84
(V)
358

Categories of related parties [Axis] Joint ventures where entity is venturer [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Boeing TATA Boeing HELA Systems HELA Systems
Name of related party Aerospace Limited Aerospace Limited Private Limited Private Limited
Description of nature of transactions with Textual information Textual information
Services rendered Services rendered
related party (95) [See below] (96) [See below]
Joint Ventures Joint Ventures Joint Ventures Joint Ventures
relationship
24
(A) 1,550 (B) 2,135 0 (C) 2
party transactions
(D) 13 (E) 1
contribution made
(F) 5 (G) 74 (H) 2 0
Amounts payable related party transactions (I) 431 (J) 1,549 0 0
Amounts receivable related party transactions (K) 1,078 (L) 1,400 0 (M) 2
0 0 0 0
0 0 0 0
transaction
transaction
359
Footnotes
(A)
Engineering Design services 0
(B)
Engineering Design services 623
(C)
(D)
(E)
(F)
(G)
(H)
(I)
Advance from customers 424
(J)
Advance from customers 1466
(K)
(L)
(M)
360

Categories of related parties [Axis] Key management personnel of entity or parent [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Mr.S Ramadorai - Mr.S Ramadorai - Mr.Ashok Sinha - Mr.Ashok Sinha -
Name of related party Director (upto Director (upto August Director (upto Director (upto August
August 27, 2018) 27, 2018) August 27, 2018) 27, 2018)
Description of nature of transactions with
Sitting fees Sitting fees Sitting fees Sitting fees
related party
Description of nature of related party Key Management Key Management Key Management Key Management
relationship Personnel Personnel Personnel Personnel
Services received related party transactions (A) 7 (B) 10 (C) 5 (D) 11
0 0 0 0
Amounts payable related party transactions 0 0 0 (E) 1
Amounts receivable related party transactions 0 0 0 0
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A) Sitting fees 7
(B) Sitting fees 10
(C) Sitting fees 5
(D) Sitting fees 11
(E)
Sitting fee payable to Directors 1
361

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Ms.Radhika Rajan - Ms.Radhika Rajan - Mr.P M Telang - Mr.P M Telang -
Name of related party Director (upto Director (upto August Director (upto Director (upto August
August 27, 2018) 27, 2018) August 27, 2018) 27, 2018)
related party
0 0 0 0
Amounts payable related party transactions 0 (E) 1 0 (F) 1
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A) Sitting fees 5
(B) Sitting fees 10
(C) Sitting fees 6
(D) Sitting fees 11
(E)
(F)
362

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Mr.Banmali
Mr.Vijay Singh - Mr.Vijay Singh - Mr.Banmali Agrawala
Agrawala - Director
Name of related party Director (w.e.f. Director (w.e.f.
(w.e.f. August 28,
- Director (w.e.f.
August 28, 2018) August 28, 2018) August 28, 2018)
2018)
related party
Services received related party transactions (A) 11 0 (B) 2 0
0 0 0 0
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A) Sitting fees 11
(B) Sitting fees 2
363

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Mr.Norman Anil Mr.Norman Anil M r . K M Mr.KM
Kumar Browne - Kumar Browne - Chandrasekhar - Chandrasekhar -
Name of related party Director (w.e.f. Director (w.e.f. Director (w.e.f. Director (w.e.f.
August 28, 2018) August 28, 2018) August 28, 2018) August 28, 2018)
related party
Services received related party transactions (A) 8 0 (B) 8 0
0 0 0 0
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A) Sitting fees 8
(B) Sitting fees 8
364

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Ms.Maya Ms.Maya
Mr.Sukaran Singh - Mr.Sukaran Singh -
Swaminathan Sinha Swaminathan Sinha
Name of related party (w.e.f. January 14, (w.e.f. January 14,
CEO and Managing CEO and Managing
Director Director
2019) 2019)
Sitting fees Sitting fees
related party
Services received related party transactions (A) 2 0
0 0 0 0
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A) Sitting fees 2
365

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Mr.AVS Prasad - Mr.AVS Prasad - Mr.S G Murali -
Mr.S G Murali - Chief
Chief Financial Chief Financial Chief Financial
Name of related party Officer (upto June Officer (upto June 24, Officer (w.e.f June
Financial Officer
(w.e.f June 25, 2018)
24, 2018) 2018) 25, 2018)
0 0 0 0
0 0 0 0
0 0 0 0
transaction
transaction

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Mr.S.R Venkatesan - Mr.S.R Venkatesan - Mr.Kaushik Biswas Mr.Kaushik Biswas -
Company Secretary Company Secretary - C o m p a n y Company Secretary
Name of related party (upto November 30, (upto November 30, Secretary (w.e.f (w.e.f December 01,
2018) 2018) December 01, 2018) 2018)
0 0 0 0
0 0 0 0
0 0 0 0
transaction
transaction
366

Categories of related parties [Axis] Other related parties [Member]
01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Consultancy TATA Consultancy TATA Consulting TATA Consulting
Name of related party Services Limited Services Limited Engineers Limited Engineers Limited
Purchase of
Purchase of property, Purchase of
property, plant and Purchase of property,
Description of nature of transactions with plant and equipment property, plant and
equipment and plant and equipment
related party and intangible asset, equipment and
intangible asset, and intangible asset
Services availed intangible asset
Services availed
Fellow Subsidiaries Fellow Subsidiaries Fellow Subsidiaries Fellow Subsidiaries
relationship
71 90
Services received related party transactions (A) 343 (B) 528
0 0 0 0
Amounts payable related party transactions (C) 10 (D) 53 (E) 5 0
Amounts receivable related party transactions 0 0 0 (F) 15
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
resource sharing 240
software design & engineering services 103
(B)
resource sharing 100
(C)
(D)
(E)
(F)
367

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Capital TATA Capital
Name of related party Infiniti Retail Ltd Infiniti Retail Ltd Financial Services Financial Services
Limited Limited
Services availed Services availed
related party
relationship
Services received related party transactions 0 (A) 1 (B) 40 (C) 23
0 0 0 0
Amounts payable related party transactions 0 0 0 (D) 2
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
(B)
(C)
(D)
368

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
Indian Rotorcraft Indian Rotorcraft TATA Teleservices TATA Teleservices
Name of related party Limited Limited Limited Limited
Purchase of
Description of nature of transactions with property, plant and
plant and equipment
related party equipment and
and intangible asset
intangible asset
relationship
219
0 0 0 0
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
Communication services 34
(B)
369

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA
TATA Capital Forex TATA Capital Forex T A T A
Communication
Limited (Ceased to Limited (Ceased to be Communication
Name of related party be Subsidiary from Subsidiary from
Collaboration
Collaboration Service
Service Private
October 31, 2017) October 31, 2017) Private Limited
Limited
related party
relationship
Services received related party transactions 0 (A) 61 (B) 79
0 0 0 0
Amounts payable related party transactions 0 0 (C) 13 (D) 32
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
forex purchase for business travel 61
(B)
(C)
(D)
370

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA T A T A
TATA SIA Airlines TATA SIA Airlines
Name of related party Limited Limited
Communications Communications
Limited Limited
Purchase of
property, plant and
Description of nature of transactions with plant and equipment
Services rendered Services rendered equipment and
related party and intangible asset,
intangible asset,
Services availed
Services availed
relationship
57
Services received related party transactions (A) 43
(B) 224 (C) 193
party transactions
0 0 0 0
Amounts receivable related party transactions (D) 15 (E) 67 0 0
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
(B)
(C)
(D)
(E)
371

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Technologies TATA Technologies TATA Services TATA Services
Name of related party Limited Limited Limited Limited
Services availed Services availed Services availed Services availed
related party
Description of nature of related party Other Group Other Group Other Group Other Group
relationship companies companies companies companies
Services received related party transactions 0 (A) 19 (B) 58 (C) 66
0 0 0 0
Amounts payable related party transactions 0 (D) 4 (E) 2 (F) 3
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
resource sharing 17
(B)
resource sharing 54
(C)
resource sharing 53
(D)
(E)
(F)
372

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA HAL
TATA H A L The Indian Hotels The Indian Hotels
Name of related party Technologies
Technologies Limited Limited Limited
Limited
related party
0 0 0 0
Amounts payable related party transactions (E) 5 (F) 7 (G) 8 (H) 12
0 0 0 0
0 0 0 0
transaction
transaction
373
Footnotes
(A)
resource sharing 6
(B)
resource sharing 36
(C)
(D)
(E)
(F)
(G)
(H)
374

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Motors TATA Motors
Name of related party Voltas Limited Voltas Limited
Limited Limited
Purchase of
property, plant and
Description of nature of transactions with plant and equipment Purchase of equity Purchase of equity
equipment and
related party and intangible asset, shares from, shares from,
intangible asset,
Services availed
Services availed
141
Provision of guarantees or collateral by
(C) 69,171
entity related party transactions
Commitments made by entity, related party
(D) 61
transactions
(E) 53,335
contribution made
0 0 0 0
Amounts payable related party transactions (F) 9 (G) 1 (H) 69,171 0
Amounts receivable related party transactions 0 (I) 1 0 0
0 0 0 0
0 0 0 0
transaction
transaction
375
Footnotes
(A)
(B)
(C) Indemnity given 69171

(D)
(E)
purchase of equity shares from 53335
(F)
(G)
(H)
Outstanding Indemnity (refer note 40 (a)(iv)) 69171
(I)
376

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Advanced
TATA Advanced
Materials Limited
The TATA Power The TATA Power Materials Limited
Name of related party Company Limited Company Limited
(Subsidiary of
(Subsidiary of TATA
TATA Industries
Industries Ltd)
Ltd)
Description of nature of transactions with expenditure by other expenditure by other
expenditure by other expenditure by other
related party group Companies, group Companies,
group Companies group Companies
Services rendered Services rendered
0 (B) 6
party transactions
0 0 (C) 57 0
Amounts receivable related party transactions (D) 15 0 0 (E) 6
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
(B)
(C)
(D)
(E)
377

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Industries
TATA Industries
Limited (ceased to
Limited (ceased to be
be subsidiary and
subsidiary and became
Name of related party became a joint
a joint venture for
TATA Elxsi Limited TATA Elxsi Limited
venture for TATA
TATA Sons w.e.f.
Sons w.e.f.
27.03.2019)
27.03.2019)
related party
Services received related party transactions (A) 20 (B) 20 (C) 23
0 0 0 0
Amounts payable related party transactions (D) 2 (E) 2 0 0
Amounts receivable related party transactions 0 0 (F) 12 0
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
resource sharing 20
(B)
resource sharing 20
(C)
(D)
(E)
(F)
378

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Chemicals TATA Chemicals
Name of related party Limited Limited
TATA Steel Limited TATA Steel Limited
Services rendered, Services rendered,
Description of nature of transactions with Services availed, Services availed,
Provision for Provision for
related party Services rendered Services rendered
liquidated damages liquidated damages
(B) 9 (C) 41 (D) 1,268 (E) 831
party transactions
0 0 0 0
Amounts receivable related party transactions 0 (F) 5 (G) 903 (H) 1,997
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
(B)
Technical and manpower assistance
(C)
(D)
(E)
(F)
(G)
(H)
379

01/04/2018 01/04/2017 01/04/2018 01/04/2017
to to to to
31/03/2019 31/03/2018 31/03/2019 31/03/2018
[Abstract]
TATA Global TATA Global TATA Projects TATA Projects
Name of related party Beverages Limited Beverages Limited Limited Limited
related party
0 0 0 0
0 0 0 0
0 0 0 0
transaction
transaction
Footnotes
(A)
380

Related party [Axis] 35
01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of transactions between related parties [Abstract]
Disclosure of transactions between related parties [Line items]
TATA AIG General TATA AIG General
Name of related party Insurance Company Insurance Company
Limited Limited
Services availed, Services availed,
Services rendered, Services rendered,
Description of nature of transactions with related party Insurance claims Insurance claims
received received
Other Group Other Group
Description of nature of related party relationship companies companies
Revenue from rendering of services related party transactions (C) 22
Other related party transactions contribution received (D) 137 0
Outstanding balances for related party transactions [Abstract]
Amounts payable related party transactions 0 0
Amounts receivable related party transactions (E) 41 (F) 5
Outstanding commitments made by entity, related party transactions 0 0
Outstanding commitments made on behalf of entity, related party transactions 0 0
Provisions for doubtful debts related to outstanding balances of related party
0 0
transaction
Expense recognised during period for bad and doubtful debts for related party
0 0
transaction
Footnotes
(A)
insurance services 358
(B)
insurance services 351
(C)
Technical and manpower assistance
(D)
Insurance claims received 137
(E)
(F)

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of related party [TextBlock] [See below]
Whether there are any related party transactions during year Yes Yes
Disclosure of transactions between related parties [TextBlock]
Whether entity applies exemption in Ind AS 24.25 No No
Whether company is subsidiary company Yes Yes
Section under which company is subsidiary Section 2(87)(ii) Section 2(87)(ii)
381
Description of nature of transactions with related party

Investment in share capital, Purchase of Goods , Reimbursement of expenditure by the company to, Reimbursement of expenditure by other group
Companies , Loans given , Services availed, Services rendered , Interest income

Investment in share capital, Purchase of Goods , Reimbursement of expenditure by the company to, Reimbursement of expenditure by other group
Companies , Loans given , Services availed, Services rendered , Interest income

Purchase of property, plant and equipment and intangible asset , Reimbursement of expenditure by the company to , Reimbursement of
expenditure by other group Companies , Dividend received, Services rendered , Transfer of gratuity and leave encashment from group companies

Purchase of property, plant and equipment and intangible asset , Reimbursement of expenditure by the company to , Reimbursement of
expenditure by other group Companies , Dividend received, Services rendered , Transfer of gratuity and leave encashment from group companies

Purchase of Goods, Reimbursement of expenditure by the company to , Reimbursement of expenditure by other group Companies, Services
rendered , Transfer of gratuity and leave encashment from group companies

Purchase of Goods, Reimbursement of expenditure by the company to , Reimbursement of expenditure by other group Companies, Services
rendered , Transfer of gratuity and leave encashment from group companies

Purchase of property, plant and equipment and intangible asset , Reimbursement of expenditure by the company to, Reimbursement of
expenditure by other group Companies , Sale of Goods, Services rendered , Transfer of gratuity and leave encashment from group companies

Purchase of property, plant and equipment and intangible asset , Reimbursement of expenditure by the company to, Reimbursement of
expenditure by other group Companies , Sale of Goods, Services rendered , Transfer of gratuity and leave encashment from group companies
382
Disclosure of related party [Text Block]
Notes forming part of the Standalone Financial

Statements
(in Indian Rupees (Lakhs) , unless otherwise

stated)
Note 46 : Related Party Transactions
Details of related parties:
Description of relationship
Holding Company
TATA Sons Private Limited
Subsidiaries
Nova Integrated Systems Limited
TASL Aerostructures Private Limited
Aurora Integrated Systems Private Limited
TAL Manfacturing Solutions Limited (subsidiary

w.e.f. March 29, 2019)
TASEC Limited (merged with the Company - refer

note 53)
Fellow Subsidiaries
TATA Consultancy Services Limited
TATA Consulting Engineers Limited
Infiniti Retail Ltd
TATA Capital Financial Services Limited
Indian Rotorcraft Limited
TATA Teleservices Limited
383
TATA Capital Forex Limited (Ceased to be

Subsidiary from October 31, 2017)
TATA Communication Collaboration Service

Private Limited
TATA SIA Airlines Limited
TATA Communications Limited
Joint Ventures
TATA Lockheed Martin Aerostructures Limited
TATA Sikorsky Aerospace Limited
TATA Boeing Aerospace Limited
HELA Systems Private Limited
Other Group companies
TATA Technologies Limited
TATA Services Limited
TATA HAL Technologies Limited
The Indian Hotels Limited
Voltas Limited
TATA Motors Limited
The TATA Power Company Limited
TATA Advanced Materials Limited (Subsidiary of

TATA Industries Ltd)
TATA Industries Limited (ceased to be subsidiary

and became a joint venture for TATA Sons w.e.f.
27.03.2019)
TATA Elxsi Limited
TATA Chemicals Limited
TATA Steel Limited
TATA Global Beverages Limited
TATA Projects Limited
TATA AIG General Insurance Company Limited
384
Key Management Personnel
Mr.S Ramadorai - Director (upto August 27, 2018)
Mr.Ashok Sinha - Director (upto August 27, 2018)
Ms.Radhika Rajan - Director (upto August 27,

2018)
Mr.P M Telang - Director (upto August 27, 2018)
Mr.Vijay Singh - Director (w.e.f. August 28, 2018)
Mr.Banmali Agrawala - Director (w.e.f. August 28,

2018)
Mr.Norman Anil Kumar Browne - Director (w.e.f.

August 28, 2018)
Mr.KM Chandrasekhar - Director (w.e.f. August 28,

2018)
Ms.Maya Swaminathan Sinha (w.e.f. January 14,

2019)
Mr.Sukaran Singh - CEO and Managing Director
Mr.AVS Prasad - Chief Financial Officer (upto June

24, 2018)
Mr.S G Murali - Chief Financial Officer (w.e.f June

25, 2018)
Mr.S.R Venkatesan - Company Secretary (upto

November 30, 2018)
Mr.Kaushik Biswas - Company Secretary (w.e.f

December 01, 2018)
Details of related party transactions during the year

ended March 31, 2019 and March 31, 2018 and
balances outstanding as at March 31, 2018 and
March 31, 2019
Other Key
Holding Fellow Joint
Particulars Subsidiaries Group Management
Company Subsidiaries Ventures
companies Personnel
Transactions
Brand subscription fee 127 0 0 0 0 0
-102 0 0 0 0 0
Investment in share capital 0 500 0 0 0 0
385
0 -1000 0 0 0 0
Purchase of equity shares 0 0 0 0 53335 0
0 0 0 0 0 0
Receipt of share application money 53335 0 0 0 0 0
0 0 0 0 0 0
Purchase of goods 0 0 0 11589 0 0
0 -8 0 -6787 0 0
Purchase of property, plant and equipment and

0 0 380 36 141 0
intangible asset
0 -57 -57 0 0 0
Reimbursement of expenditure incurred by the

0 58 0 24 0 0
Company
0 -4 0 -7 0 0
0 0
Reimbursement of expenditure on behalf of the

0 66 0 175 64 0
Company
0 -8 0 -87 0 0
Dividend received 0 0 0 0 0 0
0 0 0 -4022 0 0
Sale of goods 0 0 0 8505 0 0
0 0 0 -3182 0 0
Loans given 0 1037 0 0 0 0
0 -65 0 0 0 0
386
Services availed 1 6 497 0 648 0
(*) -39 -1048 -1 -212 0
Services rendered 0 649 224 3182 1299 0
0 -284 -193 -3235 -878 0
Interest Income 0 84 0 0 0 0
0 -61 0 0 0 0
Receipt of Gratuity and Leave Encashment from

4 0 0 69 0 0
Group Companies
0 0 0 -167 0 0
0 0
Transfer of Gratuity and Leave Encashment to

0 0 0 36 0 0
Group Companies
0 0 0 -60 0 0
Insurance claim received 0 0 0 0 137 0
0 0 0 0 0 0
Provision for liquidated damages 0 0 0 0 61 0
0 0 0 0 0 0
Director's sitting fees 0 0 0 0 0 54
0 0 0 0 0 -42
Commission to Non-Executive Directors ^ 0 0 0 0 0 155
0 0 0 0 0 0
Indemnity given 0 0 0 0 69171.3 0
0 0 0 0 0 0
387
Remuneration to Key Management Personnel 0 0 0 0 0 679
(Short-term employee benefits) 0 0 0 0 0 -418
^ Subject to approval of shareholders by a Special

Resoultion in the ensuing General Meeting
Other Key
Holding Fellow Joint
Particulars Subsidiaries Group Management
Company Subsidiaries Ventures
companies Personnel
Balances
Trade and other payables - As at March 31, 2019 0 65 28 1394 26 0
- As at March 31, 2018 0 -80 -57 -1831 -59 0
Advance from customers - As at March 31, 2019 0 0 0 424 0 0
- As at March 31, 2018 0 0 0 -1466 0 0
Loans receivable - As at March 31, 2019 0 1639 0 0 0 0
- As at March 31, 2018 0 -600 0 0 0 0
Trade & other receivables - As at March 31, 2019 0 593 15 1387 975 0
- As at March 31, 2018 0 -326 -73 -1669 -2003 0
Advances to vendors - As at Mar 31, 2019 0 0 0 84 53 0
- As at March 31, 2018 0 0 -20 -2722 0 0
Other advances / other current assets - As at

0 0 0 0 0 0
March 31, 2019
- As at March 31, 2018 0 -130 0 0 0 0
Sitting Fee to Directors - As at March 31, 2019 0 0 0 0 0 0
- As at March 31, 2018 0 0 0 0 0 -3
388
Commission to Non-Executive Directors - As at

March 31, 2019 0 0 0 0 0 155
- As at March 31, 2018 0 0 0 0 0 0
Outstanding Indemnity (refer note 40(a)(iv)) - As at

0 0 0 0 69171 0
March 31, 2019
- As at March 31, 2018 0 0 0 0 0 0
Disclosure in respect of transactions with related

parties:
For the year

For the
ended
year
March 31,
Particulars ended
2018
March
(refer
31, 2019
note:53)
A Material transactions details
(i) Brand subscription fee
TATA Sons Private Limited 127 102
(ii) Investment in share capital
Nova Integrated Systems Limited 500 1000
(iii) Receipt of share application money from
(iv) Purchase of equity shares from
TATA Motors Limited 53335 0
(v) Purchase of goods
TATA Sikorsky Aerospace Limited 11589 6787
Nova Integrated Systems Limited 0 *
Aurora Integrated Systems Private Limited 0 8
389
(vi) Purchase of property, plant and equipment and

intangible asset
TATA Lockheed Martin Aerostructures Limited 12 0
TATA Boeing Aerospace Limited 24 0
TATA Consultancy Services Limited 71 0
TATA Consulting Engineers Limited 90 0
Voltas Limited 141 0
Indian Rotorcraft Limited 219 0
TATA Communications Limited 0 57
(vii) Reimbursement of expenditure by the Company to
TATA Lockheed Martin Aerostructures Limited 3 *
TATA Sikorsky Aerospace Limited 21 *
TAL Manfacturing Solutions Limited 58 0
Reimbursement of expenditure by other group

(viii)
Companies
TATA Advanced Materials Limited 49 0
The TATA Power Company Limited 15 0
(ix) Dividend received
390
(x) Sale of goods
(xi) Loans given
(xii) Services availed
(a) Resource sharing
TATA Industries Limited 20 20
TATA Services Limited 54 53
TATA HAL Technologies Limited 6 36
TATA Technologies Limited 0 17
For the year

For the
ended
year
March 31,
Particulars ended
2018
March
(refer
31, 2019
note:53)
(b) Insurance services
TATA AIG General Insurance Company Limited 358 351
(c) Software design & engineering services
(d) Forex purchase for business travel
391
TATA Capital Forex Limited 0 61
(e) Communication Services
TATA Teleservices Limited 34 64
TATA Communication Collaboration Service

1 0
Private Limited
(f) Other services availed
TATA Capital Financial Services Limited 40 23
TATA Projects Limited 0 2
The Indian Hotels Limited 95 36
Infiniti Retail Limited 0 1
TATA Chemicals Limited 0 2
TATA Elxsi Limited 23 0
Voltas Limited 6 9
(xiii) Services rendered
(a) Technical & manpower assistance
392
HELA Systems Private Limited 0 2
TATA SIA Airlines Limited 224 193
TATA Steel Limited 1268 831
(b) IT infrastructure sharing
(c) Staff transportation
(d) Insurance Cost Sharing
HELA Systems Private Limited 0 *
(e) Engineering design/services
For the year

ended
393
March 31,
For the
year
ended
Particulars
March
31, 2019
394
2018
(refer
note:53)
(f) Other services rendered
TATA Lockheed Martin Aerostructures Limited 0 *
(xiv) Interest income
Transfer of gratuity and leave encashment from

(xv)
group companies
Hela Systems Private Limited 2 0
Transfer of gratuity and leave encashment to

(xvi)
group companies
(xvii) Insurance claim received
(xviii) Provision for liquidated damages
395
Tata Steel Limited 61 0
(xix) Remuneration to Key Management Personnel
Short-term employee benefits 679 418
(xx) Commission to Non-executive Directors
Commission to Non-executive Directors 155 0
(xxi) Sitting fee to Directors
Mr.S Ramadorai 7 10
Mr.Ashok Sinha 5 11
Ms.Radhika Rajan 5 10
Mr.P M Telang 6 11
Mr.Vijay Singh 11 0
Mr.Banmali Agrawala 2 0
Mr.K M Chandrasekhar 8 0
Mr.Norman Anil Kumar Browne 8 0
Ms.Maya Swaminathan Sinha 2 0
(xxii) Indemnity given
Tata Motors Limited 69171 0
Disclosure in respect of outstanding balances
As at
As at March 31,
Particulars March 2018
31, 2019 (refer
note:53)
II Material Outstanding balances
(i) Trade and other payables
396
NOVA Integrated Systems Limited 7 80
TATA Industries Limited 2 2
TATA Capital Financial Services Limited 0 2
Infiniti Retail Limited 0 *
The Indian Hotels Limited 8 12
TATA Chemicals Limited 0 *
Voltas Limited 9 1
(ii) Advance from customers
(iii) Loans receivables
(iv) Trade & other receivables
HELA Systems Private Limited 0 2
397
TASL Aerostructures Private Limited 0 9
Voltas Limited 0 1
The TATA Power Company Limited 15 0
TATA Steel Limited 903 1997
TATA SIA Airlines Limited 15 67
TATA Global Bevarages 0 *
(v) Advance to vendors
TATA Technologies Limited * 0
TATA Elxsi Limited 12 0
(vi) Other current assets
(vii) Commission to Non-executive Directors 155 0
(viii) Sitting fee payable to Directors
Mr.Ashok Sinha 0 1
Ms.Radhika Rajan 0 1
Mr.P M Telang 0 1
(ix) Outstanding Indemnity (refer note 40 (a)(iv))
398
Tata Motors Limited 69171 0
Note: The closing balances of related parties

include provision for expenses accounted during
the year.
[611700] Notes - Other provisions, contingent liabilities and contingent assets
Disclosure of other provisions [Table] ..(1)

Other provisions,
Classes of other provisions [Axis] Other provisions, others [Member]
others 1 [Member]
01/04/2018 01/04/2017 01/04/2018
to to 31/03/2017 to
31/03/2019 31/03/2018 31/03/2019
Disclosure of other provisions [Abstract]
Disclosure of other provisions [Line items]
Reconciliation of changes in other provisions
[Abstract]
Changes in other provisions [Abstract]
Additional provisions, other provisions
[Abstract]
New provisions, other provisions 144 80 144
Total additional provisions, other
144 80 144
provisions
Unused provision reversed, other
4 0 4
provisions
Total changes in other provisions 140 80 140
Other provisions at end of period 220 80 0 220
Warranties Current
Description of other provisions, others Refer to child member Refer to child member
and Non Current
Disclosure of other provisions [Table] ..(2)

Classes of other provisions [Axis] Other provisions, others 1 [Member]
01/04/2017
to 31/03/2017
31/03/2018
Disclosure of other provisions [Abstract]
Disclosure of other provisions [Line items]
Reconciliation of changes in other provisions [Abstract]
Changes in other provisions [Abstract]
Additional provisions, other provisions [Abstract]
New provisions, other provisions 80
Total additional provisions, other provisions 80
Unused provision reversed, other provisions 0
Total changes in other provisions 80
Other provisions at end of period 80 0
Warranties Current and Non
Description of other provisions, others Current
399

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of other provisions, contingent liabilities and contingent assets Textual information (98)
Disclosure of other provisions [TextBlock]

Disclosure of contingent liabilities [TextBlock] [See below] .
Whether there are any contingent liabilities No No

Textual information
Description of other contingent liabilities others (100) [See below]
400
Disclosure of other provisions, contingent liabilities and contingent assets [Text Block]
As at
As at
March 31, 2019
(refer note:53)
(a) Claims against the Company not acknowledged as debt (refer note
44) 593 593
(i) Value Added Tax (DVAT)

181 181
(ii) Income - Tax

4 -
Income - Tax
111 111
(c) Others
(i) Customer claims (refer note (i) below) Amount not ascertainable
-
(ii) Others
318 -
Commitments
Estimated amount of capital contracts remaining to be executed (net of

advance)
- tangible assets
6,437 4,008
- intangible assets
128 223
(i) During the year ended March 31, 2018, the Company terminated an
agreement with a customer and entered into a standstill agreement
with the customer to settle the claims amicably. The Company had
raised a claim for USD 25.35 Million on the customer who had also
raised a claim on the Company aggregating Euro 26 Million. The
Company had provided for all the related assets/ receivables and
disclosed the same as Exceptional item in the Statement of Profit and
Loss during the year ended March 31, 2018.
Subsequent to the year end, all claims were settled between the
customer and the Company. In pursuance of the settlement
401
agreement, compensation for damages was received by the Company

and accordingly, advances from customers, provision for vendor
claims, provision for inventory etc, were adjusted after returning the
covered materials and tools and the net impact of Rs. 4,307 lakhs
(credit) was accounted by the Company in the Statement of Profit and
Loss.
402
Disclosure of contingent liabilities [Text Block]
As at
As at
March 31, 2019
(refer note:53)
44) 593 593

181 181
(ii) Income - Tax

4 -
Income - Tax
111 111
(c) Others
-
(ii) Others
318 -
Commitments

advance)
- tangible assets
6,437 4,008
- intangible assets
128 223
403

Loss.
404
Description of other contingent liabilities others
As at
As at
March 31, 2019
(refer note:53)
44) 593 593

181 181
(ii) Income - Tax

4 -
Income - Tax
111 111
(c) Others
-
(ii) Others
318 -
Commitments

advance)
- tangible assets
6,437 4,008
- intangible assets
128 223
405

Loss.
[700200] Notes - Corporate social responsibility
Disclosure of net profits for last three financial years [Table] ..(1)
Financial year 1 Financial year 2 Financial year 3
Net profits for last three financial years [Axis]
[Member] [Member] [Member]
01/04/2018 01/04/2018 01/04/2018
to to to
31/03/2019 31/03/2019 31/03/2019
Disclosure of net profits for last three financial years [Abstract]
Disclosure of net profits for last three financial years [LineItems]
Description of financial year 2017-2018 2016-2017 2015-2016
Profit before tax of financial year -34 3,988 574.31
Net profit computed u/s 198 and adjusted as per rule 2(1)(f)
3,256.76 1,131.74 -1,522.85
of Companies (CSR Policy) Rules, 2014
Classification of CSR spending [Table] ..(1)

Classification of CSR spending [Axis] 1 2 3
01/04/2018 01/04/2018 01/04/2018
to to to
31/03/2019 31/03/2019 31/03/2019
Disclosure of CSR spending [Abstract]
Details of CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [Line
items]
Promoting special
Setting up Homes for Setting up Homes for
education &
CSR project or activity identified livelihood
Orphans, Old Aged Orphans, Old Aged
and Underpriveleged and Underpriveleged
enhancement
Sector in which project is covered Special education Setting up orphanage Setting up orphanage
Support Education of Welfare of orphans Support to TS Police
Whether projects or programs undertaken in local area or other young children at and aged at adopted department in local
adopted homes homes surveillance
Name of state or union territory where projects or programs
Telangana Telangana Telangana
was undertaken
Name of district where projects or programs was undertaken Local area Local area Local area
Budget amount outlay project or program wise 0.11 2 17
Amount spent on projects or programs [Abstract]
Direct expenditure on projects or programs 0.09 2.12 16.96
Total amount spent on projects or programs 0.09 2.12 16.96
Mode of amount spent Directly by company Directly by company Directly by company
406

01/04/2018
to
31/03/2019
Textual information
Disclosure of corporate social responsibility explanatory [TextBlock] (101) [See below]
Whether provisions of corporate social responsibility are applicable on
Yes
company
Textual information
Disclosure of composition of CSR committee [TextBlock] (102) [See below]
Whether company has written CSR policy Yes
Textual information
Details CSR policy [TextBlock] (103) [See below]
Disclosure overview of projects or programs proposed to be Textual information
undertaken CSR policy (104) [See below]
Average net profit for last three financial years 955.22
Prescribed CSR expenditure 19.1
Amount CSR to be spent for financial year 19.11
Amount CSR spent for financial year 19.17
Amount spent in local area 19.17
Amount spent on purposes other than construction/acquisition
19.17
of any asset in cash
Total amount spent on purposes other than
19.17
construction/acquisition of any asset
Amount unspent CSR 0
Disclosure manner in which amount CSR spent during financial year Textual information
explanatory [TextBlock] (105) [See below]
Details of implementing agency Direct
Disclosure responsibility statement of CSR committee that
Textual information
implementation and monitoring of CSR policy is in compliance (106) [See below]
with CSR policy of company
407
Disclosure of corporate social responsibility explanatory [Text Block]
ANNEXURE IV


Sinha(NED)

3 955.22
financial years
4 19.11
Projects or
Programs
(1)Local
area or Amount
Amount
other spent on
outlay
(2) Specify the
(Rs. In
where (Rs in
lakhs)
projects or lakhs)
programs
was
undertaken
Direct or
through
Direct
implementing
agency *
Support
Item (III) in Education
Promoting special education & livelihood Schedule VII of the of young
408
1 enhancement Companies Act children at 0.11 0.09 Direct

2013 adopted
homes
Welfare of
orphans
Underpriveleged
adopted
homes
Support to
TS Police
in local
surveillance
Total 19.11 19.17

The Company
confirms that
implementation
and monitoring of
7 CSR Policy is in
compliance with
CSR objectives
and Policy of the
Company.
Vijay Singh
Chairman
Date: 09/05/2019
Place: Mumbai
Disclosure of composition of CSR committee [Text Block]

The Composition of the CSR Committee:
2) Mr. Sukaran Singh (MD & CEO)
3) Ms. Maya Sinha(NED)
409
Details CSR policy [Text Block]
ANNEXURE IV


Sinha(NED)

3 955.22
financial years
4 19.11
Projects or
Programs
(1)Local
area or Amount
Amount
other spent on
outlay
(2) Specify the
(Rs. In
where (Rs in
lakhs)
projects or lakhs)
programs
was
undertaken
Direct or
through
Direct
implementing
agency *
Support
Item (III) in Education
410
1 Promoting special education & livelihood Schedule VII of the of young 0.11 0.09 Direct
enhancement Companies Act children at
2013 adopted
homes
Welfare of
orphans
Underpriveleged
adopted
homes
Support to
TS Police
in local
surveillance
Total 19.11 19.17

The Company
confirms that
implementation
and monitoring of
7 CSR Policy is in
compliance with
CSR objectives
and Policy of the
Company.
Vijay Singh
Chairman
Date: 09/05/2019
Place: Mumbai
Disclosure overview of projects or programs proposed to be undertaken CSR policy

As a policy the Committee would evaluate, recommend and monitor various initiatives which would be in line with the CSR
Activities as defined under clause (1) of Schedule VII of the Companies Act 2013. During the year, the committee recommended
the CSR spending towards activities for promoting education among children and preventive healthcare amongst local residents
& livelihood enhancement.
411
Disclosure manner in which amount CSR spent during financial year explanatory [Text Block]
Projects or Programs
Amount outlay Amount spent on
(1)Local area or other
CSR Activity or Sector in which (budget) the Projects or Amount
S.No. (2) Specify the State and
Project Identified project is covered Project-wise (Rs. Sub-heads: (Rs in spent:
district where projects or
In lakhs) lakhs)
programs was undertaken
Direct or
through
Direct
implementing
agency *
Item (III) in
Promoting special Support Education of
Schedule VII of
1 education & livelihood young children at adopted 0.11 0.09 Direct
the Companies
enhancement homes
Act 2013
Setting up Homes for
Welfare of orphans and
2 Orphans, Old Aged 2 2.12 Direct
aged at adopted homes
and Underpriveleged
Support to TS Police
3 department in local 17.00 16.96 Direct
surveillance
Total 19.11 19.17
Disclosure responsibility statement of CSR committee that implementation and monitoring of CSR policy is in
compliance with CSR policy of company
A responsibility statement of the CSR committee that the The Company confirms that implementation and
implementation and monitoring of CSR Policy, is in compliance with monitoring of CSR Policy is in compliance with CSR
CSR objectives and Policy of the Company. objectives and Policy of the Company.
[610500] Notes - Events after reporting period

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of events after reporting period [TextBlock]
Disclosure of non-adjusting events after reporting period [TextBlock]
Whether there are non adjusting events after reporting period No No
[612500] Notes - Share-based payment arrangements

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of share-based payment arrangements [TextBlock]
Whether there are any share based payment arrangement No No
412
[613000] Notes - Earnings per share

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Textual information
Disclosure of earnings per share [TextBlock] (107) [See below]
Basic earnings (loss) per share from continuing operations [INR/shares] 0.62 [INR/shares] 0.23
Total basic earnings (loss) per share [INR/shares] 0.62 [INR/shares] 0.23
Diluted earnings (loss) per share from continuing operations [INR/shares] 0.62 [INR/shares] 0.23
Total diluted earnings (loss) per share [INR/shares] 0.62 [INR/shares] 0.23
Profit (loss), attributable to ordinary equity holders of parent entity
[Abstract]
Profit (loss) from continuing operations attributable to ordinary
3,406 1,194
equity holders of parent entity
Profit (loss), attributable to ordinary equity holders of parent entity 0 0
Profit (loss), attributable to ordinary equity holders of parent
0 0
entity including dilutive effects
Weighted average shares and adjusted weighted average shares [Abstract]
Weighted average number of ordinary shares outstanding [shares] 55,20,36,849 [shares] 52,14,40,963
Disclosure of earnings per share [Text Block]
For the year ended

For the year ended
March 31, 2019
(refer note:53)
Profit for the year ended 3,406 1,194
Weighted average number of equity shares (Nos.)* 55,20,36,849 52,14,40,963
413
[610900] Notes - First time adoption

01/04/2018 01/04/2017
to to
31/03/2019 31/03/2018
Disclosure of first-time adoption [TextBlock]
Whether company has adopted Ind AS first time No No
414

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AURORA INTEGRATED SYSTEMS PRIVATE LIMITED

Standalone Financial Statements for period 01/04/2018 to 31/03/2019

[700300] Disclosure of general information about company

Date of start of reporting period 01/04/2018 01/04/2017

Name of city of place of maintenance of computer servers (storing

Name of state/ union territory of place of maintenance of

Pin code of place of maintenance of computer servers (storing

Name of district of place of maintenance of computer servers

ISO country code of place of maintenance of computer servers I N D

Name of country of place of maintenance of computer servers

Phone (with STD/ ISD code) of place of maintenance of computer

Disclosure of principal product or services [Table] ..(1)

[700600] Disclosures - Directors report

Details of shareholding of promoters [Table] ..(1)

Particulars of holding, subsidiary and associate companies [Table] ..(1)

Particulars of holding, subsidiary and associate companies [Table] ..(2)

Particulars of holding, subsidiary and associate companies [Table] ..(3)

Details of directors signing board report [Table] ..(1)

Details of change in promoters’ shareholding [Table] ..(1)

Details of indebtedness of company [Table] ..(1)

Details of indebtedness of company [Table] ..(2)

Details of shareholding pattern [Table] ..(1)

Percentage of total shares held at end of

Percentage of total shares held at end of

Details of shareholding pattern [Table] ..(2)

Percentage of total shares held at end of period 100.00% 100.00%

Percentage of total shares held at end of period 100.00% 100.00%

Percentage of total shares held at end of period 100.00% 100.00%

Percentage of total shares held at end of period 100.00% 100.00%

Percentage of total shares held at end of period 100.00% 100.00%

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Unless otherwise specified, all monetary values are in Lakhs of INR

Disclosures relating to amount recommended to be paid as dividend N o

Details on policy development and implementation by company on

Textual information (1)

Disclosure in board of directors report explanatory [Text Block]

Less: Finance charges 9.89 5.19

Tax expense 6.37 -12.28

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 34.08 12.98

Highlights in FY 2018-19Future prioritiesKey risks

Strategic Partnership program; Exclusive partnership signed with Sikorsky/Lockheed

4. ACQUISITION OF TAL MANUFACTURING SOLUTIONS LIMITED

Key Managerial Personnel:

•Combined business resulting in better resource utilization.

18. DETAILS OF RESEARCH AND DEVELOPMENT ACTIVITY

3.June 25, 2018

The Committee comprises of:

1. Mr. Banmali Agrawala (Chairman)

1. May 11, 2018

CORPORATE SOCIAL RESPONSIBILITY (‘’CSR’’) COMMITTEE

The Committee comprises of:

1. Mr. Vijay Singh (Chairman)

24. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIALS

PARTICULARS 2018-2019 2017-2018

3. Others - LPG etc

B . TECHNOLOGY ABSORPTION : (Amount in Rupees Crores)

b) Cost and productivity 21.33

2. Benefits Derived Not Applicable

Technology, absorption, adoption and innovation Not Applicable

Particulars of Technology imported during last five years Not Applicable

C. FOREIGN EXCHANGE EARNING AND OUTGO:

I.TASL – Standalone: (amount in INR Crores)

30. MAINTENANCE OF COST RECORDS AS SPECIFIED BY THE CENTRAL GOVERNMENT