NOTES TO THE STANDALONE FINANCIAL STATEMENTS
1.22 FiRst time adoption – mandatoRy exCeptions, optional exemptions
The Group has prepared the opening consolidated Balance Sheet as per Ind AS as of the transition date by recognising all assets and liabilities whose recognition is required by Ind AS,
- not recognising items of assets or liabilities which are not permitted by lnd AS, - by reclassifying items from previous GAAP to Ind AS as required under Ind AS, and - applying Ind AS in measurement of recognised assets and liabilities.
However, this principle is subject to the certain exception and certain optional exemptions availed by the Group as detailed below .
Classification of debt instruments
The Group has determined the classification of debt instruments in terms of whether they meet the amortised cost criteria or the FVTOCI criteria based on the facts and circumstances that existed as of the transition date.
signiFiCant aCCounting poliCies and notes on
aCCounts to Consolidated FinanCial statements CORPORA
TEOVERVIEW BOARD OFDIRECTORS NOTICE OF THEANNUAL GENERALMEETING DIRECTORS’REPORT MANAGEMENTDISCUSSION &ANALYSIS REPORT ONCORPORATEGOVERNANCE STANDALONEFINANCIALSTATEMENTS CONSOLIDATEDFINANCIALSTATEMENTS
signiFiCant aCCounting poliCies and notes on aCCounts to Consolidated FinanCial statements
past business combinations
The Group has elected not to apply Ind AS 103 Business Combinations retrospectively to past business combinations that occurred before the transition date of April 1, 2015. Consequently,
• the Group has kept the same classification for the past business combinations as in its previous GAAP consolidated financial statements;
• the Group has not recognised assets and liabilities that were not recognised in accordance with previous GAAP in the standalone balance sheet of the acquiree and would also not qualify for recognition in accordance with Ind AS in the balance sheet of the Group;
• The Group has excluded from its opening balance sheet those items recognised in accordance with previous GAAP that do not qualify for recognition as an asset or liability under Ind AS;
• The Group has tested the goodwill for impairment at the transition date based on the conditions as of the transition date;
• The effects of the above adjustments have been given to the measurement of non-controlling interests and deferred tax.
deemed cost for property, plant and equipment and intangible assets
The Group has elected to continue with the carrying value of all of its Property, Plant and Equipment and intangible assets recognised as of the transition date measured as per the previous GAAP and use that carrying value as it’s deemed cost as of the transition date.
determining whether an arrangement contains a lease
The Group has applied Appendix C of Ind AS 17 Determining whether an Arrangement contains a Lease to determine whether an arrangement existing at the transition date contains a lease on the basis of facts and circumstances existing at that date.
long term foreign currency monetary item
The Group has continued with the policy adopted for accounting for exchange differences arising from translation of long- term foreign currency monetary items recognised in the financial statements prepared under previous GAAP for the year ended March 31, 2016.
accounting for joint arrangement
In respect of all the joint ventures which were earlier accounted for using the proportionate consolidation method under previous GAAP, the Group has measured the investments in those joint ventures as the aggregate of corresponding carrying amounts of the assets and liabilities as a deemed cost on the date of transition as per Ind AS 111- Joint Arrangements.
share based payment transaction
The Group has availed the exemption of not applying Ind AS 102- Share based payment to equity instruments that vested before date of transition to Ind AS.
pRopeRty, plant and equipment : gross Carrying amountDepreciation / Impairmentnet block as at april 1, 2016addition # disposal acquisition through business
combination
other adjustments **
as at march 31, 2017as at april 1, 2016 For the year ***
elimination on disposal
other adjustments **
as at march 31, 2017as at march 31, 2017as at march 31, 2016 assets: 1,426.05 448.54 98.34 0.41 67.10 1,843.76 190.07 246.95 94.73 12.96 355.25 1,488.51 1,235.98 11.01 6.16 0.01 0.06 (0.05) 17.17 1.74 2.06 * * 3.80 13.37 9.27 ehicles 2.26 0.02 0.16 - * 2.13 0.36 0.35 0.09 * 0.61 1.52 1.90 2.20 1.21 0.02 0.01 (0.01) 3.39 0.57 0.73 0.01 * 1.29 2.10 1.63 6.42 2.80 0.05 0.01 (0.01) 9.17 1.82 2.40 0.02 * 4.20 4.97 4.60 3.14 1.94 0.02 - (0.01) 5.05 0.70 0.92 * * 1.62 3.43 2.44 1.13 0.60 - - - 1.73 0.22 0.30 * - 0.52 1.21 0.91 2.65 2.54 * - * 5.19 0.39 0.64 * * 1.03 4.16 2.26 Telephone 0.71 0.27 - * * 0.98 0.24 0.22 * * 0.46 0.52 0.47 Master Tapes 0.01 - - - - 0.01 - - - - - 0.01 0.01 a) 1,455.58 464.08 98.60 0.49 67.02 1,888.58 196.11 254.57 94.85 12.96 368.78 1,519.80 1,259.47 lease: 137.62 - - - (67.46) 70.16 20.86 13.40 - (12.89) 21.37 48.79 116.76 b) 137.62 - - - (67.46) 70.16 20.86 13.40 - (12.89) 21.37 48.79 116.76 1,593.20 464.08 98.60 0.49 (0.44) 1,958.74 216.97 267.97 94.85 0.07 390.15 1,568.59 1,376.23 gross Carrying amountDepreciation / Impairmentnet block
deemed cost as at april 1, 2015
addition # disposal acquisition through business
combination
other adjustments **
as at march 31, 2016as at april 1, 2015
For the y elimination other ear*** on disposal adjustments **
as at march 31, 2016as at march 31, 2016as at april 1, 2015 assets: 1,013.91 418.09 17.01 5.11 5.95 1,426.05 - 200.54 11.34 0.87 190.07 1,235.98 1,013.91 8.25 2.83 0.07 * - 11.01 - 1.77 0.03 * 1.74 9.27 8.25 ehicles 0.85 1.44 0.03 * - 2.26 - 0.36 * * 0.36 1.90 0.85 1.33 0.87 * * - 2.20 - 0.57 * - 0.57 1.63 1.33 3.56 2.88 0.03 0.01 - 6.42 - 1.84 0.02 * 1.82 4.60 3.56 2.12 1.12 0.10 - - 3.14 - 0.73 0.03 - 0.70 2.44 2.12 0.93 0.21 0.01 - - 1.13 - 0.23 0.01 - 0.22 0.91 0.93 1.95 0.77 0.07 * - 2.65 - 0.43 0.04 - 0.39 2.26 1.95 Telephone 0.26 0.45 * * - 0.71 - 0.24 * - 0.24 0.47 0.26 Master Tapes 0.01 - - - - 0.01 - - - - - 0.01 0.01 a) 1,033.17 428.66 17.32 5.12 5.95 1,455.58 - 206.71 11.47 0.87 196.11 1,259.47 1,033.17 lease: 142.95 - - 0.62 (5.95) 137.62 - 21.24 - (0.38) 20.86 116.76 142.95 b) 142.95 - - 0.62 (5.95) 137.62 - 21.24 - (0.38) 20.86 116.76 142.95 1,176.12 428.66 17.32 5.74 - 1,593.20 - 227.95 11.47 0.49 216.97 1,376.23 1,176.12 ` 50,000/- the year the Company has reclassified Assets under Finance Lease amounting to ` 67.46 (March 31, 2016 : ` 5.95) (Gross Block) and ` 12.89 (March 31, 2016 : ` 0.38) (Depreciation) as Owned ` 9.62 (March 31, 2016 : ` 5.28) Company has capitalized exchange gain / (loss) arising on long-term foreign currency loan amounting to ` (1.73) [March 31, 2016: ` 38.37] to the cost of plant and equipments. The Company has also exchange gain / (loss) amounting to ` 0.75 [March 31, 2016: ` 0.86] arising on long-term foreign forward contract undertaken to partially hedge the foreign current loan to the cost of plant and equipments.
t o C onsolida ted F inan C ial st atements (Amount: ` in Crores unless otherwise stated) CoRPoRateoVeRVieW BoaRd oFdiReCtoRs NotiCe oF tHeaNNUal GeNeRalmeetiNG diReCtoRs’RePoRt maNaGemeNtdisCUssioN &aNalYsis RePoRt oNCoRPoRateGoVeRNaNCe staNdaloNeFiNaNCialstatemeNts CoNsolidatedFiNaNCialstatemeNts