Godrej Industries Limited
Consolidated Balance Sheet as at March 31, 2016
Amount ` in Crore
Note No. Current Year Previous Year
Equity and Liabilities
Shareholders’ Funds
(a) Share Capital 3 33.60 33.59
(b) Reserves and Surplus 4 3,448.54 3,193.66
3,482.14 3,227.25
Minority Interest 1,486.22 1,148.53
Non-Current Liabilities
(a) Long Term Borrowings 5 1,686.70 1,728.16
(b) Deferred Tax Liabilites (Net) 6 116.06 72.96
(c) Other Long Term Liabilities 7 35.61 1.42
(d) Long Term Provisions 8 15.17 15.11
1,853.54 1,817.65
Current Liabilities
(a) Short Term Borrowings 9 4,883.35 3,723.60
(b) Trade Payables 10 1,799.36 1,793.35
(c) Other Current Liabilities 11 2,160.11 1,698.42
(d) Short Term Provisions 12 35.96 100.15
8,878.78 7,315.52
TOTAL 15,700.68 13,508.95
Assets
Non Current Assets
(a) Fixed Assets 13
(i) Tangible Assets 2,239.53 1,284.28
(ii) Intangible Assets 32.67 35.74
(iii) Capital Work in Progress 349.12 774.01
(iv) Intangible Assets Under Development 2.11 0.67
2,623.43 2,094.70
(b) Goodwill on Consolidation 563.98 517.09
(c) Non Current Investments 14 2,301.40 2,004.13
(d) Deferred Tax Assets (Net) 15 - 4.48
(e) Long Term Loans and Advances 16 370.81 285.33
(f) Other Non-Current Assets 17 68.68 32.00
5,928.30 4,937.73
Current Assets
(a) Current Investments 18 571.77 686.70
(b) Inventories 19 6,172.50 5,355.05
(c) Trade Receivables 20 926.88 633.85
(d) Cash and Bank Balances 21 221.97 242.13
(e) Short Term Loans and Advances 22 1,123.73 1,070.49
(f) Other Current Assets 23 755.53 583.00
9,772.38 8,571.22
TOTAL 15,700.68 13,508.95
Notes to the Consolidated Financial Statements 1 to 48
As per our Report attached
For Kalyaniwalla & Mistry For and on behalf of the Board
Chartered Accountants A. B. Godrej N. B. Godrej
Firm Regn. No. 104607W Chairman Managing Director
Daraius Z. Fraser N. S. Nabar Clement Pinto Nilufer Shekhawat
Partner Executive Director Chief Financial Officer Company Secretary
M. No. 42454 & President (Chemicals)
Mumbai, May 25, 2016.
134
Annual Report 2015-16
Statement of Consolidated Profit and Loss for the year ended March 31, 2016
Amount ` in Crore
Note No. Current Year Previous Year
Revenue from Operations (Gross) 26 10,846.80 9,323.04
Less: Excise Duty 93.65 93.15
10,753.15 9,229.89
Other Income 27 177.10 125.93
Total Revenue 10,930.25 9,355.82
Expenses
(a) Cost of Materials Consumed 28 3,896.08 3,644.76
(b) Purchases of Stock in Trade 2,730.66 2,392.77
(c) Cost of Sales - Property Development 29 2,133.84 1,466.94
(d) Changes in Inventory of Finished Goods, Work in 30 (121.46) (15.64)
Progress and Stock In Trade
(e) Employee Benefits Expense 31 383.64 322.52
(f) Finance Costs 32 273.19 191.73
(g) Depreciation and Amortisation Expense 130.21 93.23
(h) Other Expenses 33 1,099.60 933.13
Total Expenses 10,525.76 9,029.44
Profit Before Exceptional Items and Tax 404.49 326.38
Exceptional Items 34 236.06 192.41
Profit Before Tax 640.55 518.79
Tax Expense
(a) Current Tax 175.40 160.08
(b) MAT Credit Entitlement (27.12) (9.61)
(c) Deferred Tax 44.57 (13.89)
(d) Adjustment for Tax of Previous Years (net) (5.95) (0.03)
Total Tax 186.90 136.55
Profit After Taxation 453.65 382.24
Share of Profit in Associates 265.30 206.58
Profit Before Minority Interest 718.95 588.82
Minority Interest (234.52) (186.35)
Profit for the Year 484.43 402.47
Earnings Per Share (Face Value ` 1 per share) 35
(a) Basic 14.42 12.00
(b) Diluted 14.41 11.98
Notes to the Consolidated Financial Statements 1 to 48
As per our Report attached
For Kalyaniwalla & Mistry For and on behalf of the Board
Chartered Accountants A. B. Godrej N. B. Godrej
Firm Regn. No. 104607W Chairman Managing Director
Daraius Z. Fraser N. S. Nabar Clement Pinto Nilufer Shekhawat
Partner Executive Director Chief Financial Officer Company Secretary
M. No. 42454 & President (Chemicals)
Mumbai, May 25, 2016.
135
Godrej Industries Limited
Consolidated Cash Flow Statement for the year ended March 31, 2016
Amount ` in Crore
Current Year Previous Year
A. Cash Flow from Operating Activities :
Profit Before Tax 640.55 518.79
Adjustments for :
Depreciation 130.21 93.23
Unrealised Foreign Exchange Revaluation (1.27) 1.90
Profit on Sale of Investments (net) (316.14) (261.01)
Profit on Sale of Fixed Assets (net) 4.81 (3.44)
Share Issue Expenses 0.05 -
Write Off of Fixed Assets 0.25 -
Dividend Income (0.02) (0.07)
Interest Income (33.50) (36.97)
Interest & Finance Charges 273.19 191.73
Employee Stock Grant Scheme Compensation 9.41 7.12
(Write back) / Provision for Diminution in Value of Investments (24.03) 8.12
ESOP Loan Write Back (11.00) -
Provision for Doubtful Debts /Advances 9.00 10.08
Others 3.99 (0.91)
Operating Profit Before Working Capital Changes 685.50 528.57
Adjustments for :
Inventories (698.01) (1,050.21)
Trade Receivables (262.42) (70.64)
Other Current Assets 127.06 (219.07)
Non Current Assets (25.92) (24.72)
Trade Payables (63.84) (196.78)
Other Current Liabilities 396.45 158.62
Non Current Liabilities (2.16) 3.18
Cash Generated / Used In Operations 156.66 (871.05)
Direct Taxes Paid (201.08) (178.51)
Net Cash Used in Operating Activities (44.42) (1,049.56)
B. Cash Flow from Investing Activities :
Purchase of Fixed Assets (397.39) (495.52)
Proceeds from Sale of Fixed Assets 8.91 11.92
Purchase of Investments (Current and Non - Current) (1,247.85) (1,286.75)
Proceeds from Sale of Investments - Long term 209.73 256.78
Proceeds from Sale of Investments - Others 1,078.45 1,025.14
Intercorporate Deposits / Loans (net) (31.41) 4.91
Interest Received 38.25 25.35
Dividend Received 0.00 0.06
Other Income 0.50 -
Net Cash Used in Investing Activities (340.81) (458.11)
136
Annual Report 2015-16
Consolidated Cash Flow Statement for the year ended March 31, 2016 (Contd.)
Amount ` in Crore
Current Year Previous Year
C. Cash Flow from Financing Activities :
Proceeds from Issue of Equity Shares 2.59 0.40
Capital (withdrawn) / contribution into Limited Liability Partnership (31.64) 1.30
Share Issue Expenses (0.05) -
Proceeds from Borrowings 3,311.32 2,419.03
Repayment of Borrowings (2,460.66) (733.11)
Bank Overdrafts (net) 20.82 (5.06)
Interest & Finance Charges Paid (272.48) (189.34)
Dividend Paid (154.97) (60.86)
Merger Expenses (0.19) -
Tax on Distributed Profits (31.34) (22.89)
Net Cash Generated from Financing Activities 383.40 1,409.47
Net Decrease in Cash and Cash Equivalents (1.83) (98.20)
Cash and Cash Equivalents (Opening Balance) 187.91 286.67
Add : Cash and Cash Equivalents taken over pursuant to Business 18.79 0.18
Acquisition
Less : Cash and Cash Equivalents on Demerger (0.52) -
Less : Cash and Cash Equivalents on consolidation of ESOP Trusts - (0.74)
Cash and Cash Equivalents (Closing Balance) 204.35 187.91
(including share in jointly controlled entities - ` 20.94 crore; previous year -
` 13.55 crore)
Notes : Current year Previous year
1. Cash and Cash Equivalents
Cash on Hand and Balances with Banks 221.97 242.13
Closing balances of Fixed deposit (more than 3 months but less than 12 (17.06) (53.87)
months)
Other bank balances (0.56) (0.35)
Cash and Cash Equivalents 204.35 187.91
2. The figures of previous year have been regrouped / restated wherever necessary to conform to current
year’s presentation.
As per our Report attached
For Kalyaniwalla & Mistry For and on behalf of the Board
Chartered Accountants A. B. Godrej N. B. Godrej
Firm Regn. No. 104607W Chairman Managing Director
Daraius Z. Fraser N. S. Nabar Clement Pinto Nilufer Shekhawat
Partner Executive Director Chief Financial Officer Company Secretary
M. No. 42454 & President (Chemicals)
Mumbai, May 25, 2016.
137
