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f) Excess amount for set-off:

S. No. Particulars Amount (in ₹)

(1) (2) (3)
(i) Two percent of average net profit of the Company as per sub-section (5) of 3,12,22,93,466
Section 135
(ii) Total amount spent for the financial year 3,30,47,63,608
(iii) Excess amount spent for the financial year [(ii)-(i)] 18,24,70,142
(iv) Surplus arising out of the CSR projects or programmes or activities of the 0
previous financial years, if any
(v) Amount available for set-off in succeeding financial years [(iii)-(iv)] 18,24,70,142

7. DETAILS OF UNSPENT CORPORATE SOCIAL RESPONSIBILITY AMOUNT FOR THE PRECEDING THREE FINANCIAL
YEARS

1 2 3 4 5 6 7 8
S. Preceding Amount Balance Amount Amount transferred Amount Defi-
No. Financial transferred Amount in Spent in the to a Fund as remaining ciency,
Year(s) to Unspent Unspent CSR Financial Year specified under to be if any
CSR Account (in ₹) Schedule VII as per spent in

STANDALONE
Account under Section second proviso to succeeding
under 135 (6) (in ₹) Section 135 (5), if financial
Section 135 any years (in ₹)
(6) (in ₹) Amount Date of

FINANCIAL
(in ₹) transfer
1. 2020-21 0 0 2,40,48,01,918 0 NIL NIL -
2. 2021-22 0 0 2,71,13,87,826 0 NIL NIL -

STATEMENTS
3. 2022-23 0 0 3,21,66,10,491 0 NIL NIL -
Total 8,33,28,00,235 -

8. WHETHER ANY CAPITAL ASSETS HAVE BEEN CREATED OR ACQUIRED THROUGH CORPORATE SOCIAL
RESPONSIBILITY AMOUNT SPENT IN THE FINANCIAL YEAR

YES NO
If yes, enter the number of Capital assets created/ acquired: N.A.
Furnish the details relating to such asset(s) so created or acquired through Corporate Social Responsibility
amount spent in the Financial Year:

S. Short particulars of the Pincode Date of Amount Details of entity/ Authority/ beneficiary
No. property or asset(s) of the creation of CSR of the registered owner
[including complete property amount
CSR Registration Name Registered
address and location of or spent
Number, if address
the property] asset(s)
applicable
(1) (2) (3) (4) (5) (6)
N.A.

9. SPECIFY THE REASON(S), IF THE COMPANY HAS FAILED TO SPEND TWO PER CENT OF THE AVERAGE NET PROFIT AS
PER SECTION 135(5): N.A.

Dr. Yatindra Dwivedi Ravindra Kumar Tyagi

Date : 31st July, 2024 Director (Personnel) CMD & Chairman CSR Committee
Place : Gurugram DIN: 10301390 DIN: 09632316

332 INTEGRATED ANNUAL REPORT (FY 23-24) INTEGRATED ANNUAL REPORT (FY 23-24) 333
 Standalone Financial Statements

Standalone Balance Sheet as at 31 March 2024 Standalone Balance Sheet as at 31 March 2024 (Contd.)
(₹ in crore) (₹ in crore)
Particulars Note As at As at As at Particulars Note As at As at As at
No 31 March 2024 31 March 2023* 01 April 2022* No 31 March 2024 31 March 2023* 01 April 2022*
ASSETS Current liabilities
Non-current assets Financial Liabilities
Property Plant and Equipment 4 161,333.81 170,801.36 178,175.63 Borrowings 28 18,381.67 14,626.22 24,646.10
Capital work-in-progress 5 9,581.16 7,668.13 7,344.46 Lease liabilities 4.18 4.09 2.74
Investment Property 6 1.84 - - Trade payables
Intangible assets 7 1,366.70 1,476.19 1,556.13 (A) total outstanding dues of micro enterprises 29 49.79 48.69 47.19
Intangible assets under development 8 91.01 31.08 31.53 and small enterprises
Financial Assets (B) total outstanding dues of creditors other 29 304.28 276.33 218.95
Investments 9 8,731.63 7,414.95 7,228.53 than micro enterprises and small enterprises
Trade receivables 10A 282.95 695.57 - Other current financial liabilities 30 7,875.60 7,392.53 7,408.90
Loans 10 21,502.52 16,897.29 14,269.78 Other current liabilities 31 2,606.93 3,132.40 3,203.41
Other non-current financial assets 11 4,662.16 4,810.79 4,414.47 Provisions 32 583.36 781.41 932.31
Other non-current assets 12 4,569.56 4,905.63 4,797.73 Current Tax Liabilities (Net) 33 - 34.60 -
212,123.34 214,700.99 217,818.26 29,805.81 26,296.27 36,459.60
Assets Classified as Held for Sale 19A - - 245.00 Deferred Revenue 34 9,461.86 10,163.52 9,514.54
212,123.34 214,700.99 218,063.26 Total Equity and Liabilities 245,421.41 248,216.17 252,057.87
Current assets
* Restated (Refer Note 66(A))
Inventories 13 1,303.73 1,323.55 1,352.60
Financial Assets The accompanying notes (1 to 67) form an integral part of financial statements
Investments 14A 608.26 - -
Trade receivables 14 10,825.80 14,304.13 13,017.04 For and on behalf of the Board of Directors
Cash and cash equivalents 15 2,620.55 4,146.24 2,457.47 Satyaprakash Dash G Ravisankar R K Tyagi
Bank balances other than Cash and cash 16 2,406.18 588.20 513.57 Company Secretary Director (Finance) Chairman & Managing Director
equivalents DIN: 08816101 DIN: 09632316
Loans 17 450.49 455.10 328.27
As per our report of even date
Other current financial assets 18 5,020.57 1,930.57 6,125.77
Other current assets 19 201.89 222.77 210.99 For S. RAMANAND AIYAR & CO For SAGAR & ASSOCIATES For SURESH SURANA & ASSOCIATES LLP For G. D. APTE & CO
23,437.47 22,970.56 24,005.71 Chartered Accountants Chartered Accountants Chartered Accountants Chartered Accountants
FRN : 000990N FRN : 003510S FRN : 121750W/W-100010 FRN : 100515W
Assets Classified as Held for Sale 19A 260.86 260.86 15.86
23,698.33 23,231.42 24,021.57
Regulatory Deferral Account Balances 20 9,599.74 10,283.76 9,973.04 CA Puneet Jain CA Ajay Kumar Mishra CA Avilas Agarwal CA C. M. Dixit
Total Assets 245,421.41 248,216.17 252,057.87 Partner Partner Partner Partner
EQUITY AND LIABILITIES M. No. 520928 M. No. 205468 M. No. 062668 M. No. 17532
Equity
Equity Share capital 21 9,300.60 6,975.45 6,975.45 Date: 22 May 2024
Other Equity 22 77,566.45 75,868.73 69,184.82
Place: Mumbai
86,867.05 82,844.18 76,160.27
Liabilities
Non-current liabilities
Financial Liabilities
Borrowings 23 105,066.95 113,891.29 114,199.40
Lease liabilities 37.24 61.63 27.04
Other non-current financial liabilities 24 3,553.22 3,564.67 3,523.00
Provisions 25 643.11 577.61 517.05
Deferred tax liabilities(Net) 26 9,981.40 10,619.90 11,416.08
Other non-current liabilities 27 4.77 197.10 240.89
119,286.69 128,912.20 129,923.46

334 INTEGRATED ANNUAL REPORT (FY 23-24) INTEGRATED ANNUAL REPORT (FY 23-24) 335
 Standalone Financial Statements

Standalone Statement of Profit and Loss for the year ended 31 March 2024 Standalone Statement of Profit and Loss for the year ended 31 March 2024 (Contd.)
(₹ in crore)

Particulars Note For the year ended For the year ended Particulars Note For the year ended For the year ended
No. 31 March 2024 31 March 2023* No. 31 March 2024 31 March 2023*

Continuing Operations Earnings per equity share from Continuing Operations 60

(Face value of ₹10/- each)
Revenue From Operations 35 42,391.16 42,635.90
including movement in Regulatory Deferral Account 16.54 16.26
Other Income 36 3,424.21 2,591.62 Balances : Basic & Diluted (In ₹)

Total Income 45,815.37 45,227.52 excluding movement in Regulatory Deferral Account 17.15 15.98
Balances : Basic & Diluted (In ₹)
EXPENSES
Earnings per equity share from Discontinued Operations 60 0.10 0.23
Employee benefits expense 37 2,376.88 2,400.35
(Face value of ₹10/- each): Basic & Diluted (In ₹)
Finance costs 38 9,046.87 9,707.20
Earnings per equity share from Continuing and 60
Depreciation and amortization expense 39 12,558.19 12,858.52 Discontinued Operations (Face value of ₹10/- each)

Other expenses 40 3,259.46 3,274.50 including movement in Regulatory Deferral Account 16.64 16.49
Balances : Basic & Diluted (In ₹)
Total expenses 27,241.40 28,240.57
excluding movement in Regulatory Deferral Account 17.25 16.21
Profit before Tax and Regulatory Deferral Account Balances 18,573.97 16,986.95 Balances : Basic & Diluted (In ₹)
Tax expense:
* Restated (Refer Note 66(A))
Current tax - Current Year 3,238.91 2,948.58
The accompanying notes (1 to 67) form an integral part of financial statements
- Earlier Years (2.48) (73.76)

Deferred tax 26 (604.45) (755.98) For and on behalf of the Board of Directors

2,631.98 2,118.84 Satyaprakash Dash G Ravisankar R K Tyagi

Company Secretary Director (Finance) Chairman & Managing Director
Profit for the period before Regulatory Deferral Account 15,941.99 14,868.11
DIN: 08816101 DIN: 09632316
Balances
As per our report of even date
Net movement in Regulatory Deferral Account Balances- 41 (564.51) 256.43
Income/(Expenses) (net of tax) For S. RAMANAND AIYAR & CO For SAGAR & ASSOCIATES For SURESH SURANA & ASSOCIATES LLP For G. D. APTE & CO
Chartered Accountants Chartered Accountants Chartered Accountants Chartered Accountants
Profit from Continuing Operations 15,377.48 15,124.54
FRN : 000990N FRN : 003510S FRN : 121750W/W-100010 FRN : 100515W
Profit before Tax from Discontinued Operations 116.27 227.74

Tax expense of discontinued operations 19.14 16.74 CA Puneet Jain CA Ajay Kumar Mishra CA Avilas Agarwal CA C. M. Dixit
Profit from Discontinued Operations (refer note 65) 97.13 211.00 Partner Partner Partner Partner
M. No. 520928 M. No. 205468 M. No. 062668 M. No. 17532
Profit for the period 15,474.61 15,335.54

Other Comprehensive Income Date: 22 May 2024

Continuing Operations Place: Mumbai

Items that will not be reclassified to profit or loss (net of tax) 42 (231.94) (108.04)

Discontinued Operations (refer note 65)

Items that will not be reclassified to profit or loss (net of tax) (0.95) 1.34

Total Comprehensive Income from Continuing Operations 15,145.54 15,016.50

Total Comprehensive Income from Discontinued Operation 96.18 212.34

(refer note 65)

Total Comprehensive Income for the period 15,241.72 15,228.84

336 INTEGRATED ANNUAL REPORT (FY 23-24) INTEGRATED ANNUAL REPORT (FY 23-24) 337
 Standalone Financial Statements

Standalone Statement of Changes in Equity for the year ended 31 March 2024 Statement of Changes in Equity for the year ended 31 March 2024 (Contd.)

B. Other Equity (contd.)

A. Equity Share Capital
(₹ in crore) (₹ in crore)
Reserves and Surplus Other Compre-
As at 01 April 2023 6,975.45
hensive Income
Changes during the year (refer note 21) 2,325.15
Securi- Bond Re- Self In- General Retained Equity instru-
As at 31 March 2024 9,300.60 Particulars Total
ties Pre- demption surance Reserve Earnings ments through
As at 01 April 2022 6,975.45 mium Reserve Reserve other compre-
Changes during the year - hensive income

As at 31 March 2023 6,975.45 As at 01 April 2022 7,834.43 5,532.80 853.09 50,352.82 4,110.89 492.09 69,176.12
Add/(Less): Ind AS 12 Adjustments 8.70 8.70
7,834.43 5,532.80 853.09 50,352.82 4,119.59 492.09 69,184.82
B. Other Equity
(₹ in crore) Profit for the year 15,335.54 15,335.54
Other Comprehensive Income 17.22 (123.92) (106.70)
Reserves and Surplus Other Compre-
Total Comprehensive Income 15,352.76 (123.92) 15,228.84
hensive Income
Adjustments during the year
-

Particulars Securi- Bond Re- Self In- General Retained Equity instru- Total Transfer to General Reserve 8,000.00 (8,000.00) -
ties Pre- demption surance Reserve Earnings ments through
mium Reserve Reserve other compre- Transfer from Bond (1,364.63) 1,364.63 -
hensive income Redemption Reserve
Transfer to Self Insurance 299.42 (299.42) -
As at 01 April 2023 7,834.43 4,168.17 1,047.96 58,457.37 3,989.19 371.61 75,868.73
Reserve
Profit for the year 15,474.61 15,474.61 Transfer from Self Insurance (104.55) 104.55 - -
Reserve
Other Comprehensive Income (33.96) (198.93) (232.89)
Final Dividend F.Y. 2021-22 (1,569.48) (1,569.48)
Total Comprehensive Income 15,440.65 (198.93) 15,241.72
Interim Dividend F.Y. 2022-23 (6,975.45) (6,975.45)
Adjustments during the year
-
Other Adjustments (3.44) 3.44 -
Transfer to General Reserve 6,000.00 (6,000.00) - As at 31 March 2023 7,834.43 4,168.17 1,047.96 58,457.37 3,989.19 371.61 75,868.73

Transfer from Bond (1,247.15) 1,247.15 - The accompanying notes (1 to 67) form an integral part of financial statements
Redemption Reserve Refer to Note No 22 for nature and movement of Reserve and Surplus.
Utilised for issue of bonus (2,325.15) (2,325.15)
equity shares
For and on behalf of the Board of Directors
Transfer to Self Insurance 301.53 (301.53) -
Satyaprakash Dash G Ravisankar R K Tyagi
Reserve
Company Secretary Director (Finance) Chairman & Managing Director
Transfer from Self Insurance (108.86) 108.86 - - DIN: 08816101 DIN: 09632316
Reserve
As per our report of even date
Final Dividend F.Y. 2022-23 (3,313.34) (3,313.34)
For S. RAMANAND AIYAR & CO For SAGAR & ASSOCIATES For SURESH SURANA & ASSOCIATES LLP For G. D. APTE & CO
Interim Dividend F.Y. 2023-24 (7,905.51) (7,905.51) Chartered Accountants Chartered Accountants Chartered Accountants Chartered Accountants
FRN : 000990N FRN : 003510S FRN : 121750W/W-100010 FRN : 100515W
As at 31 March 2024 5,509.28 2,921.02 1,240.63 64,566.23 3,156.61 172.68 77,566.45

CA Puneet Jain CA Ajay Kumar Mishra CA Avilas Agarwal CA C. M. Dixit

Partner Partner Partner Partner
M. No. 520928 M. No. 205468 M. No. 062668 M. No. 17532

Date: 22 May 2024

Place: Mumbai

338 INTEGRATED ANNUAL REPORT (FY 23-24) INTEGRATED ANNUAL REPORT (FY 23-24) 339
 Standalone Financial Statements

Standalone Statement of Cash Flows for the year ended 31 March 2024 Standalone Statement of Cash Flows for the year ended 31 March 2024 (Contd.)
(₹ in crore) (₹ in crore)
Particulars For the year ended For the year ended Particulars For the year ended For the year ended
31 March 2024 31 March 2023 31 March 2024 31 March 2023
A. CASH FLOW FROM OPERATING ACTIVITIES Direct taxes paid (3,247.77) (2,797.04)
Profit Before Tax & Regulatory Deferral Account Balances 18,690.24 17,214.69 Net Cash from Operating Activities 34,790.13 37,839.42
(including discontinued operations)
B. CASH FLOW FROM INVESTING ACTIVITIES
Add: Net movement in Regulatory Deferral Account Balances (564.51) 256.43
Property, Plant & Equipment and Capital Work in Progress (5,511.80) (4,404.60)
(net of tax)
(Including Advances for Capital Expenditure)
Add: Tax on Net movement in Regulatory Deferral Account (119.51) 54.29
Receipt of Grant 0.29 0.35
Balances
Investment in Mutual Funds (2,080.00) -
Profit Before Tax (including net movement in Regulatory 18,006.22 17,525.41
Deferral Account Balances) Sale of Mutual Funds 1,483.92 -
Adjustment for : Investments in Subsidiaries, JVs & others (Net) (1,042.69) (358.83)
Depreciation & amortization expenses 12,601.43 12,939.88 Loans & Advances to Subsidiaries, JVs & Associates (Including (4,650.02) (3,089.78)
repayments)
Transfer from Grants in Aid (311.41) (315.33)
Financial lease receipts 217.59 132.33
Deferred revenue - Advance against Depreciation (130.24) (151.56)
Bank balances other than cash and cash equivalents (1,913.50) (45.53)
Provisions 200.76 65.18
Interest received on Deposits, Bonds and Loans to Subsidiaries & 1,748.70 1,200.14
Changes in fair value of financial instruments through profit or (13.05) (27.90)
JVs, PG InvIT etc
loss
Surcharge received 275.95 192.79
Net Loss on Disposal / Write off of Property, Plant & Equipment 19.99 22.09
Dividend received 1,038.02 671.71
Deferred Foreign Currency Fluctuation Asset 415.85 (159.19)
Net Cash from/(used in) Investing Activities (10,433.54) (5,701.42)
Deferred Income from Foreign Currency Fluctuation (273.94) 1,116.10
C. CASH FLOW FROM FINANCING ACTIVITIES
Regulatory Deferral Account Debit Balances 684.02 (310.72)
Proceeds from non current borrowings 8,053.00 9,140.44
Finance Costs 9,062.58 9,744.25
Repayment of non current borrowings (13,440.72) (15,540.65)
Provisions Written Back (95.65) (29.93)
Proceeds/repayment of current borrowings 70.91 (6,857.62)
FERV loss / (gain) 41.97 268.20
Repayment of Lease Liabilities (Including interest) (6.25) (8.82)
Gain on sale/Change in Fair Value of Current Investment (9.46) -
Measured at FVPL Finance Costs paid (9,339.19) (8,637.65)
Interest income on Deposits, Bonds and loans to Subsidiaries & (1,739.17) (1,265.48) Dividend paid (11,218.85) (8,544.93)
Joint Ventures (JVs), PG InvIT etc Expenses paid towards issue of bonus shares (1.18) -
Surcharge income (131.25) (163.54) Net Cash used in Financing Activities (25,882.28) (30,449.23)
Income from finance lease (72.25) (150.80) D. Net change in Cash and Cash equivalents (A+B+C) (1,525.69) 1,688.77
Dividend income (1,038.17) (671.71) E. Cash and Cash equivalents (Opening balance) 4,146.24 2,457.47
19,212.01 20,909.54 F. Cash and Cash equivalents (Closing balance) (Refer Note 2,620.55 4,146.24
Operating profit before Changes in Assets and Liabilities 37,218.23 38,434.95 No 15)*
Adjustment for Changes in Assets and Liabilities: The accompanying notes (1 to 67) form an integral part of financial statements.
(Increase)/Decrease in Inventories 9.51 25.96 * Includes ₹ 622.93 crore (Previous Year ₹ 1048.54 crore) held in designated accounts which is not available for use
(Increase)/Decrease in Trade Receivables 3,364.35 (1,847.06) by the Company.

(Increase)/Decrease in Other Financial Assets (2,850.22) 4,216.70 Refer Note No. 65 'Discontinued Operations' for further disclosures on tranfer of Telecom business.

(Increase)/Decrease in Other Non-current Assets (18.68) 1.25

Further Notes:
(Increase)/Decrease in Other Current Assets (14.04) (6.12) 1. Cash and cash equivalents consist of cheques, drafts, stamps in hands, balances with banks and deposits with
Increase/(Decrease) in Liabilities & Provisions 328.75 (189.22) original maturity of upto three months.
819.67 2,201.51 2. Previous year figures have been re-grouped / re-arranged wherever necessary.

Cash generated from operations 38,037.90 40,636.46 3. Reconciliation between the opening and closing balances in the balance sheet for liabilities arising from
financing activities.

340 INTEGRATED ANNUAL REPORT (FY 23-24) INTEGRATED ANNUAL REPORT (FY 23-24) 341