Cover Page
Cover Page | 12 Months Ended |
Mar. 31, 2022 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Vedanta Limited |
Entity Central Index Key | 0001370431 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Security 12(b) Title | American Depositary Shares |
Entity Address, Address Line One | 1st Floor, ‘C’ wing, Unit 103 |
Entity Address, Address Line Two | Corporate Avenue, Atul Projects |
Entity Address, Address Line Three | Chakala, Andheri (East) |
Entity Address, City or Town | Mumbai |
Entity Address, Country | IN |
Entity Address, Postal Zip Code | 400 093 |
Entity Incorporation, State or Country Code | K7 |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Filer Category | Large Accelerated Filer |
Entity File Number | 001-33175 |
Entity Common Stock, Shares Outstanding | 3,717,504,871 |
ICFR Auditor Attestation Flag | true |
Document Accounting Standard | International Financial Reporting Standards |
Auditor Name | S. R. Batliboi & Co. LLP |
Auditor Firm ID | 1272 |
Auditor Location | Gurugram, India |
No Trading Symbol Flag | true |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | Core-6, 3rd Floor |
Entity Address, Address Line Two | Scope Complex, 7, Lodhi Road |
Entity Address, City or Town | New Delhi |
Entity Address, Country | IN |
Entity Address, Postal Zip Code | 110003 |
City Area Code | 91 |
Local Phone Number | 95-9966-7760 |
Contact Personnel Name | Prerna Halwasiya |
Contact Personnel Email Address | comp.sect@vedanta.co.in |
Consolidated Statements of Prof
Consolidated Statements of Profit or Loss ₨ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2022 INR (₨) ₨ / shares shares | Mar. 31, 2022 USD ($) $ / shares shares | Mar. 31, 2021 INR (₨) ₨ / shares shares | Mar. 31, 2020 INR (₨) ₨ / shares shares | |||
Profit or loss [abstract] | ||||||
Revenue | ₨ 1,311,917 | $ 17,292 | ₨ 868,630 | ₨ 835,446 | ||
Cost of sales | [1] | (855,880) | (11,281) | (635,225) | (829,461) | |
Gross profit | 456,037 | 6,011 | 233,405 | 5,985 | ||
Other operating income | [2] | 17,981 | 237 | 13,094 | 9,863 | |
Distribution expenses | (34,187) | (451) | (20,184) | (18,205) | ||
Administration expenses | (50,204) | (662) | (39,463) | (37,577) | ||
Operating (loss)/profit | 389,627 | 5,135 | 186,852 | (39,934) | ||
Investment and other income | 19,947 | 263 | 32,177 | 25,714 | ||
Finance and other costs | (49,427) | (651) | (52,955) | (54,557) | ||
(Loss)/Profit before tax | 360,147 | 4,747 | 166,074 | (68,777) | ||
Income tax credit/(expense) | (103,068) | (1,359) | (19,084) | 26,677 | ||
(Loss)/Profit for the year | 257,079 | 3,388 | 146,990 | (42,100) | ||
(Loss)/Profit attributable to: | ||||||
Equity holders of the parent | 207,953 | 2,740 | 112,883 | (61,248) | ||
Non-controlling interests | 49,126 | 648 | 34,107 | 19,148 | ||
(Loss)/Profit for the year | ₨ 257,079 | $ 3,388 | ₨ 146,990 | ₨ (42,100) | ||
Earnings/(Loss) per share (in ₹ and US $) | ||||||
Basic | (per share) | ₨ 56.11 | $ 0.74 | ₨ 30.47 | ₨ (16.54) | ||
Diluted | (per share) | ₨ 55.72 | $ 0.73 | ₨ 30.28 | ₨ (16.54) | ||
Weighted average number of equity shares used in computing earnings per share | ||||||
Basic | [3] | 3,706,455,160 | 3,706,455,160 | 3,704,196,924 | 3,702,554,614 | |
Diluted | [3] | 3,732,148,735 | 3,732,148,735 | 3,727,544,981 | 3,702,554,614 | [4] |
[1]Cost of sales for the year ended (i) March 31, 2020 includes net impairment charge of ₹ 146,821 million; (ii) March 31, 2021 includes an asset under construction written off of ₹ 2,440 million; and (iii) March 31, 2022 includes an asset under construction written off of ₹ 701 million ($ 9 million), impairment reversal of ₹ 62,745 million ($ 827 million) and exploration cost written off of ₹ 26,181 million ($ 345 million) (Refer Note 14).[2]includes export incentive and duty drawback amounting to ₹ 4,327 million and ₹ 3,162 million and ₹ 5,182 million ($ 68 million) for the years ended March 31, 2020, March 31, 2021 and March 31, 2022, respectively.[3]After excluding the impact of treasury shares[4]Potential dilutive shares have been considered as anti dilutive for year ended March 31, 2020. |
Consolidated Statements of Pr_2
Consolidated Statements of Profit or Loss (Parenthetical) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Profit or loss [abstract] | ||||
Net impairment charge/ (reversal) on cost of sales | ₨ 26,181 | $ 345 | ₨ 146,821 | |
Asset under construction written off | 701 | 9 | ₨ 2,440 | |
Reversal of impairment loss recognised in profit or loss | ₨ 62,745 | $ 827 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income / (Loss) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Statement of Comprehensive Income/ (Loss) [abstract] | ||||
(Loss)/Profit for the year | ₨ 257,079 | $ 3,388 | ₨ 146,990 | ₨ (42,100) |
Items that will not be reclassified subsequently to profit or loss | ||||
Re-measurement (loss)/gain on defined benefit obligation | (181) | (2) | (5) | (2,118) |
Tax credit/(expense) | 12 | 0 | (104) | 714 |
(Loss)/Gain on fair value of financial asset investment | 145 | 2 | 621 | (738) |
Items that will be reclassified subsequently to profit or loss | ||||
Exchange differences on translation of foreign operations | 8,135 | 107 | 2,558 | 8,217 |
Tax credit/(expense) | 137 | 2 | (610) | 340 |
Gain/(loss) on cash flow hedges recognised during the year | (2,717) | (36) | (2,533) | 1,254 |
Tax (expense)/ credit | 896 | 12 | 862 | (438) |
(Gain)/loss on cash flow hedges recycled to profit or loss | 3,721 | 49 | 1,879 | (327) |
Tax credit/ (expense) | (1,311) | (17) | (606) | 114 |
Total other comprehensive income for the year, net of income tax | 8,837 | 117 | 2,062 | 7,018 |
Total Comprehensive (Loss)/Income for the year | 265,916 | 3,505 | 149,052 | (35,082) |
Total Comprehensive (Loss)/Income attributable to: | ||||
Equity holders of the parent | 216,362 | 2,852 | 114,005 | (52,950) |
Non-controlling interests | 49,554 | 653 | 35,047 | 17,868 |
Total comprehensive income /(loss) for the year | ₨ 265,916 | $ 3,505 | ₨ 149,052 | ₨ (35,082) |
Consolidated Statements of Fina
Consolidated Statements of Financial Position ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
Non-current assets | ||||
Property, plant and equipment | ₨ 1,016,551 | $ 13,399 | ₨ 946,181 | |
Exploration and evaluation assets | 16,642 | 219 | 24,542 | |
Intangible assets | 6,966 | 92 | 7,481 | |
Deferred tax assets | 64,537 | 851 | 73,958 | |
Financial assets investments | 1,472 | 19 | 1,532 | |
Income tax assets | 27,625 | 364 | 27,481 | |
Other non-current assets | 109,810 | 1,447 | 127,727 | |
Total non-current assets | 1,243,603 | 16,391 | 1,208,902 | |
Current assets | ||||
Inventories | 143,253 | 1,888 | 99,509 | |
Income tax assets | 252 | 3 | 69 | |
Trade and other receivables | 212,504 | 2,801 | 130,729 | |
Short-term investments | 235,932 | 3,110 | 281,775 | |
Derivative financial assets | 2,580 | 34 | 701 | |
Restricted cash and cash equivalents | 4,674 | 62 | 1,025 | |
Cash and cash equivalents | 86,709 | 1,143 | 48,537 | |
Total current assets | 685,904 | 9,041 | 562,345 | |
Total assets | 1,929,507 | 25,432 | 1,771,247 | |
Current liabilities | ||||
Borrowings | 168,944 | 2,227 | 189,600 | |
Acceptances | 110,936 | 1,462 | 83,711 | |
Trade and other payables | 356,169 | 4,695 | 306,747 | |
Derivative financial liabilities | 5,308 | 70 | 2,786 | |
Retirement benefits | 1,021 | 13 | 1,135 | |
Provisions | 3,150 | 42 | 2,378 | |
Current tax liabilities | 9,192 | 121 | 2,792 | |
Total current liabilities | 654,720 | 8,630 | 589,149 | |
Net current assets / (liabilities) | 31,184 | 411 | (26,804) | |
Non-current liabilities | ||||
Borrowings | 362,023 | 4,772 | 379,622 | |
Deferred tax liabilities | 52,988 | 698 | 21,894 | |
Retirement benefits | 1,569 | 21 | 1,465 | |
Provisions | 32,282 | 425 | 29,854 | |
Derivative financial liabilities | 57 | 1 | 764 | |
Other non-current liabilities | 18,746 | 248 | 14,450 | |
Total non-current liabilities | 467,665 | 6,165 | 448,049 | |
Total liabilities | 1,122,385 | 14,795 | 1,037,198 | |
Net assets | 807,122 | 10,637 | 734,049 | |
EQUITY | ||||
Share capital | [1],[2],[3],[4] | 3,718 | 49 | 3,718 |
Securities premium | 190,452 | 2,510 | 190,452 | |
Treasury shares | (2,290) | (30) | (3,223) | |
Share based payment reserve | 1,363 | 18 | 1,707 | |
Other components of equity | 126,294 | 1,665 | 117,712 | |
Retained earnings | 316,229 | 4,168 | 274,231 | |
Equity attributable to equity holders of the parent | 635,766 | 8,380 | 584,597 | |
Non-controlling interests | 171,356 | 2,257 | 149,452 | |
Total Equity | ₨ 807,122 | $ 10,637 | ₨ 734,049 | |
[1]Includes 12,193,159 equity shares as at March 31, 2021 and 8,693,406 equity shares as at March 31, 2022 held by Vedanta Limited ESOS Trust.[2]Includes 308,232 equity shares as at March 31, 2021 and 305,832 equity shares as at March 31, 2022 kept in abeyance. These shares are not part of listed equity capital and pending allotment as they are sub-judice.[3]The Company has one class of equity shares having a par value of ₹ 1 per share. Each shareholder is eligible for one vote per share held and dividend as and when declared by the Company.[4]This includes 160,903,244 equity shares in the form of 40,225,811 American Depository Shares (ADS) as at March 31, 2021. The American Depository Shares (ADS) of the Company have been delisted from NYSE effective close of trading on NYSE on November 8, 2021. Refer Group overview section for detailed note. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Cash flows from operating activities | ||||
(Loss)/Profit before tax | ₨ 360,147 | $ 4,747 | ₨ 166,074 | ₨ (68,777) |
Adjustments to reconcile profit/(loss) to net cash provided by operating activities: | ||||
Depreciation and amortisation | 91,148 | 1,201 | 81,178 | 100,490 |
Impairment charge/(reversal) of property, plant and equipment/ exploration and evaluation assets (Refer Note 14) | (62,745) | (827) | 148,022 | |
Assets under construction/capital advances written off (Refer Note 14) | 1,951 | 26 | 2,440 | |
Provision for doubtful debts/advances | 4,612 | 61 | 5,126 | 3,281 |
Exploration costs written off (Refer Note 14) | 26,181 | 345 | 71 | 27 |
Fair value gain on financial assets held for trading/fair value through profit or loss | (2,087) | (28) | (9,340) | (5,574) |
Share based payment expense | 785 | 10 | 575 | 716 |
Loss/(Gain) on sale of property, plant and equipment, net | (1,265) | (17) | (743) | 562 |
Exchange loss/(gain), net | 2,741 | 36 | (1,025) | 3,436 |
Inventory written off | 1,176 | |||
Interest, dividend income and bargain gain | (18,861) | (249) | (22,306) | (17,651) |
Finance and other cost | 47,972 | 632 | 53,135 | 49,768 |
Provision for cost of environmental clearance | 69 | 1 | 2,135 | |
Liabilities written back no longer required | (647) | (9) | (950) | (1,681) |
Provision for legal disputes (including change in law) | 4,219 | 56 | ||
Changes in assets and liabilities: | ||||
(Increase)/Decrease in receivables | (85,445) | (1,126) | (29,250) | 11,479 |
(Increase)/Decrease in inventories | (43,574) | (574) | 13,833 | 19,447 |
Increase/(Decrease) in payables | 51,461 | 679 | 7,515 | (54,748) |
Proceeds from short-term investments | 868,481 | 11,447 | 833,293 | 1,033,449 |
Purchases of short-term investments | (871,350) | (11,485) | (751,598) | (983,579) |
Cash generated from operations | 373,793 | 4,926 | 350,163 | 239,843 |
Interest paid | (52,217) | (688) | (53,499) | (55,682) |
Interest received | 18,682 | 246 | 20,351 | 9,401 |
Dividends received | 15 | 0 | 18 | 181 |
Income tax paid | (57,454) | (757) | (21,081) | (11,350) |
Net cash from operating activities | 282,819 | 3,727 | 295,952 | 182,393 |
Cash flows from investing activities | ||||
Consideration paid for business acquisition (net of cash and cash equivalents acquired) | (448) | (335) | ||
Purchases of property, plant and equipment (including intangibles) | (106,028) | (1,397) | (68,833) | (78,227) |
Proceeds from sale of property, plant and equipment | 3,249 | 43 | 1,678 | 1,455 |
Loans repaid by related parties (Refer Note 35) | 16,227 | 214 | 11,116 | |
Loans to related parties (Refer Note 35) | (76,600) | |||
Proceeds from short-term deposits | 169,601 | 2,235 | 145,633 | 45,634 |
Purchases of short-term deposits | (119,656) | (1,577) | (179,839) | (111,899) |
Proceeds on liquidation of structured investments | 30,774 | |||
Payment towards structured investments | (4,354) | |||
Net changes in restricted cash and cash equivalents | (1) | 0 | (65) | 86 |
Net cash used in investing activities | (36,608) | (482) | (167,358) | (116,866) |
Cash flows from financing activities | ||||
Repayment of working capital loan, net | 8,750 | 115 | (95,925) | (113,658) |
Proceeds from acceptances | 276,131 | 3,639 | 190,993 | 170,398 |
Repayment of acceptances | (248,931) | (3,280) | (211,398) | (149,221) |
Proceeds from other short-term borrowings | 132,428 | 1,745 | 104,895 | 22,344 |
Repayment of other short-term borrowings | (102,309) | (1,348) | (91,279) | (26,837) |
Proceeds from long-term borrowings | 209,156 | 2,757 | 167,070 | 118,256 |
Repayment of long-term borrowings | (287,577) | (3,790) | (95,770) | (89,959) |
Payment of dividends to equity holders of the parent | (166,814) | (2,199) | (35,187) | (14,441) |
Payment of dividends to non-controlling interests, including dividend distribution tax | (26,682) | (352) | (56,029) | |
Loan given to parent and its affiliates in excess of fair value (Refer Note 35) | (5,361) | |||
Payment for acquiring non-controlling interest | (1,074) | |||
Payment of lease liability | (2,318) | (31) | (3,380) | (3,164) |
Net cash used in financing activities | (208,166) | (2,744) | (131,371) | (87,356) |
Effect of exchange rate changes on cash and cash equivalents | 127 | 2 | 716 | 136 |
Net (decrease)/increase in cash and cash equivalents | 38,172 | 503 | (2,061) | (21,693) |
Cash and cash equivalents at the beginning of the year | 48,537 | 640 | 50,598 | 72,291 |
Cash and cash equivalents at the end of the year | ₨ 86,709 | $ 1,143 | ₨ 48,537 | ₨ 50,598 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity ₨ in Millions, $ in Millions | INR (₨) | USD ($) | Share capital [member] INR (₨) | Share capital [member] USD ($) | Securities premium [member] INR (₨) | Securities premium [member] USD ($) | Treasury shares [member] INR (₨) | Treasury shares [member] USD ($) | [5] | Share based payment reserve INR (₨) | Share based payment reserve USD ($) | Translation of foreign operations [member] INR (₨) | Translation of foreign operations [member] USD ($) | Equity Instruments through OCI INR (₨) | Equity Instruments through OCI USD ($) | Cash flow hedges [member] INR (₨) | Cash flow hedges [member] USD ($) | Retained earnings [member] INR (₨) | [2] | Retained earnings [member] USD ($) | [2] | Total [member] INR (₨) | Total [member] USD ($) | Non-controlling interests [member] INR (₨) | Non-controlling interests [member] USD ($) | ||
Beginning balance at Mar. 31, 2019 | ₨ 731,946 | ₨ 3,718 | ₨ 190,452 | ₨ (3,971) | [1] | ₨ 2,493 | ₨ 106,950 | ₨ 1,086 | ₨ (734) | ₨ 281,344 | ₨ 581,338 | ₨ 150,608 | |||||||||||||||
Profit / (loss) for the year | (42,100) | (61,248) | (61,248) | 19,148 | |||||||||||||||||||||||
Other comprehensive income/ (loss) for the year, net of tax | 7,018 | 9,498 | (738) | 464 | (926) | 8,298 | (1,280) | ||||||||||||||||||||
Total comprehensive income /(loss) for the year | (35,082) | 9,498 | (738) | 464 | (62,174) | (52,950) | 17,868 | ||||||||||||||||||||
Stock options cancelled during the year | (519) | 519 | |||||||||||||||||||||||||
Recognition of share based payment | 754 | 754 | 754 | ||||||||||||||||||||||||
Exercise of stock options | 0 | 165 | [1] | (232) | 67 | 0 | 0 | ||||||||||||||||||||
Dividend | (14,441) | (14,441) | (14,441) | ||||||||||||||||||||||||
Acquisition of FACOR (Refer Note 4(a)) | (1,074) | 1,268 | 1,268 | (2,342) | |||||||||||||||||||||||
Change in fair value of put option liability/ conversion option asset/ derecognition of non-controlling interest | (208) | (3,448) | (3,448) | 3,240 | |||||||||||||||||||||||
Ending Balance at Mar. 31, 2020 | 681,895 | 3,718 | 190,452 | (3,806) | [1],[3] | 2,496 | 116,448 | 348 | (270) | 203,135 | 512,521 | 169,374 | |||||||||||||||
Profit / (loss) for the year | 146,990 | 112,883 | 112,883 | 34,107 | |||||||||||||||||||||||
Other comprehensive income/ (loss) for the year, net of tax | 2,062 | 777 | 621 | (212) | (64) | 1,122 | 940 | ||||||||||||||||||||
Total comprehensive income /(loss) for the year | 149,052 | 777 | 621 | (212) | 112,819 | 114,005 | 35,047 | ||||||||||||||||||||
Stock options cancelled during the year | (325) | (920) | 595 | (325) | |||||||||||||||||||||||
Recognition of share based payment | 575 | 575 | 575 | ||||||||||||||||||||||||
Exercise of stock options | 583 | [3] | (444) | (139) | |||||||||||||||||||||||
Dividend | (91,216) | (35,187) | (35,187) | (56,029) | |||||||||||||||||||||||
Acquisition of FACOR (Refer Note 4(a)) | (309) | (309) | |||||||||||||||||||||||||
Change in fair value of put option liability/ conversion option asset/ derecognition of non-controlling interest | (262) | (1,631) | (1,631) | 1,369 | |||||||||||||||||||||||
Effect of fair valuation of inter-company loan | [4] | (5,361) | (5,361) | (5,361) | |||||||||||||||||||||||
Ending Balance at Mar. 31, 2021 | 734,049 | 3,718 | 190,452 | (3,223) | [3],[5] | 1,707 | 117,225 | 969 | (482) | 274,231 | 584,597 | 149,452 | |||||||||||||||
Profit / (loss) for the year | 257,079 | $ 3,388 | 207,953 | 207,953 | 49,126 | ||||||||||||||||||||||
Other comprehensive income/ (loss) for the year, net of tax | 8,837 | 117 | 7,523 | 145 | 914 | (173) | 8,409 | 428 | |||||||||||||||||||
Total comprehensive income /(loss) for the year | 265,916 | 3,505 | 7,523 | 145 | 914 | 207,780 | 216,362 | 49,554 | |||||||||||||||||||
Stock options cancelled during the year | (101) | (342) | 241 | (101) | |||||||||||||||||||||||
Recognition of share based payment | 432 | 432 | 432 | ||||||||||||||||||||||||
Exercise of stock options | 307 | 933 | [5] | (434) | (192) | 307 | |||||||||||||||||||||
Dividend | (193,496) | (166,814) | (166,814) | (26,682) | |||||||||||||||||||||||
Change in fair value of put option liability/ conversion option asset/ derecognition of non-controlling interest | 15 | 983 | 983 | (968) | |||||||||||||||||||||||
Ending Balance at Mar. 31, 2022 | ₨ 807,122 | $ 10,637 | ₨ 3,718 | $ 49 | ₨ 190,452 | $ 2,510 | ₨ (2,290) | [5] | $ (30) | ₨ 1,363 | $ 18 | ₨ 124,748 | $ 1,644 | ₨ 1,114 | $ 15 | ₨ 432 | $ 6 | ₨ 316,229 | $ 4,168 | ₨ 635,766 | $ 8,380 | ₨ 171,356 | $ 2,257 | ||||
[1]Treasury share represents 14,378,261 equity shares (face value of ₹ 1 each) of the Company held by Vedanta Limited ESOS Trust as at March 31, 2020. Treasury shares were purchased pursuant to the Company’s stock option scheme as detailed in Note 29.[2]Retained earnings mainly includes general reserve, debenture redemption reserve, preference share redemption reserve and capital reserve (Refer Note 30)[3]Treasury share represents 12,193,159 equity shares (face value of ₹ 1 each) of the Company held by Vedanta Limited ESOS Trust as at March 31, 2021. Treasury shares were purchased pursuant to the Company’s stock option scheme as detailed in Note 29.[4]An amount of ₹ 3,364 million ($ 46 million) was originally recognized as a transaction with the shareholder and the same was increased by ₹ 5,802 million ($ 79 million) upon revision in terms. Of the same, ₹ 3,805 million ($ 52 million) was reversed on a subsequent modification during the year. Refer note 35(b) for further details.[5]Treasury share represents 8,693,406 equity shares (face value of ₹ 1 each) of the Company held by Vedanta Limited ESOS Trust as at March 31, 2022. Treasury shares were purchased pursuant to the Company’s stock option scheme as detailed in Note 29. |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Parenthetical) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2021 INR (₨) ₨ / shares shares | Mar. 31, 2021 USD ($) | Mar. 31, 2022 ₨ / shares shares | Mar. 31, 2020 ₨ / shares shares | |
Face value of treasury shares | ₨ 1 | ₨ 1 | ₨ 1 | |
Increase of loan amout due to revision of terms | ₨ 5,802 | $ 79 | ||
Shareholder [Member] | ||||
Loans given | 3,364 | 46 | ||
Decrease of loan amount due to subsequent modification | ₨ 3,805 | $ 52 | ||
Treasury shares [member] | Vedanta Limited Employee Stock Option Scheme 2016 [member] | ||||
Number of treasury shares | shares | 12,193,159 | 8,693,406 | 14,378,261 | |
Face value of treasury shares | ₨ 1 | ₨ 1 | ₨ 1 |
Group overview
Group overview | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Group overview | 1. Group overview Vedanta Limited (“the Company” or “the parent”) and its consolidated subsidiaries (collectively, the “Group”) is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil and gas. The Group engages in the exploration, production and sale of zinc, lead, silver, copper, aluminum, iron ore and oil and gas and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and the UAE. The Group is also in the business of commercial power generation, steel manufacturing and port operations in India and manufacturing of glass substrate in South Korea and Taiwan. The Company was incorporated on September 8,1975 under the laws of the Republic of India. The registered office of the Company is situated at 1st Floor, ‘C’ wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai-400092, Maharashtra. The Company’s shares are listed on National Stock Exchange (‘NSE’) and Bombay Stock Exchange (‘BSE’) in India. In June 2007, the Company completed its initial public offering of American Depositary Shares, or ADS, each representing four equity shares, and listed its ADSs on the New York Stock Exchange (‘NYSE’). In July 2009, the Company completed its follow-on offering of an The American Depositary Shares (ADS) of the Company have been delisted from the NYSE effective close of trading on the NYSE on November 8, 2021. This follows the filing by the Company of Form 25 with the Securities and Exchange Commission on October 29, 2021. As a consequence of the delisting becoming effective, termination of the Deposit Agreement under which the ADS were issued (the “Deposit Agreement”) has also become effective close of trading on the NYSE on November 8, 2021. The said action has no impact on the current listing status or trading of the Company’s equity shares on BSE and NSE. The Company will continue to be subject to reporting obligations under the U.S. Securities Exchange Act of 1934 until such time as it can terminate its registration under the said Act. The Company is majority owned by Twin Star Holdings Limited (“Twin Star”), Finsider International Company Limited (“Finsider”), Vedanta Holdings Mauritius II Limited (“VHM2L”), Vedanta Holdings Mauritius Limited (“VHML”), Welter Trading Limited (“Welter”) and Vedanta Netherlands Investments BV (“VNIBV”), which are in turn wholly-owned subsidiaries of Vedanta Resources Limited (“VRL”), a company incorporated in the United Kingdom. VRL, through its subsidiaries, of the Company’s equity as at March 31, 2021 and March 31, 2022, respectively. VRL, through its wholly owned subsidiaries, acquired 541,731,161 equity shares of the Company during the current year, thereby increasing their shareholding in the Company from Details of the Group’s various businesses are as follows: • Zinc India business is owned and operated by Hindustan Zinc Limited (“HZL”). • Zinc international business comprises Skorpion mine and refinery in Namibia operated through THL Zinc Namibia Holdings (Proprietary) Limited (“Skorpion”), Lisheen mine in Ireland operated through Vedanta Lisheen Holdings Limited (“Lisheen”) (Lisheen mine ceased operations in December 2015) and Black Mountain Mining (Proprietary) Limited (“BMM”), whose assets include the operational Black Mountain mine and the Gamsberg mine project located in South Africa. • The Group’s oil and gas business is owned and operated by the Company and its subsidiary, Cairn Energy Hydrocarbons Limited and consists of exploration, development and production of oil and gas. • The Group’s iron ore business is owned by the Company, and its wholly owned subsidiary, i.e., Sesa Resources Limited. It consists of exploration, mining and processing of iron ore, pig iron and metallurgical coke and generation of power for captive use. Pursuant to Honorable Supreme Court of India order, mining operations in the state of Goa are currently suspended. The Group’s iron ore business includes Western Cluster Limited (“WCL”) in Liberia which has iron ore assets and is wholly owned by the Group. WCL’s assets include development rights to Western Cluster and a network of iron ore deposits in West Africa. WCL’s assets have been fully impaired. Subsequent to the Balance Sheet date, WCL has signed a Memorandum of Understanding with Government of Liberia to start its Iron ore mining operations in Liberia, which could not be started earlier due to the outbreak of Ebola epidemic in 2014. Activities to begin the operations are commenced in June 2022. • The Group’s copper business is owned and operated by the Company, Copper Mines of Tasmania Pty Ltd (“CMT”) and Fujairah Gold FZC and is principally one of custom smelting and includes captive power plants at Tuticorin in Southern India. The Group’s copper business in Tamil Nadu, India has received an order from the Tamil Nadu Pollution Control Board (“TNPCB”) on April 9, 2018, rejecting the Company’s application for renewal of consent to operate under the Air and Water Acts for the TPA copper smelter plant in Tuticorin for want of further clarification and consequently the operations were suspended. The Company has filed an appeal with TNPCB Appellate authority against the said order. During the pendency of the appeal, TNPCB through its order dated May 23, 2018 ordered for disconnection of electricity supply and closure of copper smelter plant. Post such order, the state government on May 28, 2018 ordered the permanent closure of the plant. We continue to engage with the Government of India and relevant authorities to enable the restart of operations at Copper India. (Refer Note 3(c)(I)(iii)). Further, the Company’s copper business includes refinery and rod plant at Silvassa consisting of a 133,000 MT of blister/ secondary material processing plant, a 216,000 TPA copper refinery plant and a copper rod mill with an installed capacity of 258,000 TPA. The plant continues to operate , In addition, the Group owns and operates the Mt. Lyell copper mine in Tasmania, Australia through its subsidiary CMT and a precious metal refinery and copper rod plant in Fujairah, UAE through its subsidiary Fujairah Gold FZC. The operations of Mt Lyell copper mine were suspended in January 2014 following a mud slide incident and were put into care and maintenance since July 9, 2014 following a rock fall incident in June 2014. In November 2020, the Group executed an arrangement with a third party for further exploration with an option to fully divest its shareholding in return for royalties on successful mining and production. • The Group’s Aluminium business is owned and operated by the Company and by Bharat Aluminium Company Limited (“BALCO”). The aluminium operations include a refinery and captive power plant at Lanjigarh and a smelter and captive power plants at Jharsuguda both situated in the State of Odisha in Eastern India. BALCO’s partially integrated aluminium operations comprise two bauxite mines, captive power plants, smelting and fabrication facilities in the State of Chhattisgarh in central India. • The Group’s power business is owned and operated by the Company, BALCO and Talwandi Sabo Power Limited (“TSPL”), a wholly owned subsidiary of the Company, which are engaged in the power generation business in India. The Company’s power operations include a thermal coal- based commercial power facility of 600 MW at Jharsuguda in the State of Odisha in Eastern India. BALCO power operations include 600 MW (2 Units of 300 MW each) thermal coal based power plant at Korba, of which a unit of 300 MW was converted to be used for captive consumption vide order from the Central Electricity Regulatory Commission (CERC) dated January 01, 2019. TSPL’s power operations include 1,980 MW (three units of 660 MW each) thermal coal- based commercial power facilities. Power business also includes the wind power plants commissioned by HZL and a power plant at MALCO Energy Limited (“MEL”) (under care and maintenance) situated at Mettur Dam in the State of Tamil Nadu in southern India. • The Group’s other businesses include: (i) ESL Steel Limited (“ESL”). ESL is engaged in the manufacturing and supply of billets, TMT bars, wire rods and ductile iron pipes in Eastern India. (ii) Vizag General Cargo Berth Private Limited (“VGCB”) and Maritime Ventures Private Limited (“MVPL”). Vizag port project includes mechanization of coal handling facilities and upgradation of general cargo berth for handling coal at the outer harbour of Visakhapatnam Port on the east coast of India. MVPL is engaged in the business of rendering logistics inter alia rendering stevedoring, and other allied services in ports and other allied sectors. (iii) AvanStrate Inc. (“ASI”), Ferro Alloys Corporation Limited (“FACOR”) and Desai Cement Company Private Limited (“DCCPL”). ASI, headquartered in Japan , |
Basis of preparation and basis
Basis of preparation and basis of measurement of financial statements | 12 Months Ended |
Mar. 31, 2022 | |
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Basis of preparation and basis of measurement of financial statements | 2. Basis of preparation and basis of measurement of financial statements a) Basis of preparation These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements have been prepared in accordance with the accounting policies set out below and were consistently applied to all periods presented unless otherwise stated. These financial statements are approved for issue by the Board of Directors on August 1, 2022. Certain comparative figures appearing in these consolidated financial statements have been regrouped and/or reclassified to better reflect the nature of those items. The consolidated financial statements are presented in Indian Rupee ( ₹ ₹ b) Basis of Measurement The consolidated financial statements have been prepared on a going concern basis using historical cost convention and on an accrual method of accounting, except for certain financial assets and liabilities which are measured at fair value as explained in the accounting policies below. c) Restatement/Reclassification In the comparative period ended March 31, 2021, some of the acceptances which were previously included under trade and other receivables and trade and other payables amounting to ₹ ₹ million, respectively, have been reclassified to acceptances on the face of the balance sheet. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Mar. 31, 2022 | |
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Significant accounting policies | 3(a) Significant accounting policies A. Basis of consolidation Subsidiaries: The consolidated financial statements incorporate the results of the Company and all its subsidiaries (the “Group”), being the entities that it controls. Control is evidenced where the Group has power over the investee, is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Power is demonstrated through existing rights that give the ability to direct relevant activities, which significantly affect the entity’s returns. The financial statements of subsidiaries are prepared for the same reporting year as the parent company. Where necessary, adjustments are made to the financial statements of subsidiaries to align the accounting policies in line with accounting policies of the Group. For non-wholly non-controlling Liability for put option issued to non-controlling non-controlling For acquisitions of additional interests in subsidiaries, where there is no change in control, the Group recognises a reduction to the non-controlling non-controlling Intra-Group balances and transactions, and any unrealised profits arising from intra-Group transactions are eliminated. Unrealised losses are eliminated unless costs cannot be recovered. Joint arrangements A Joint arrangement is an arrangement of which two or more parties have joint control. Joint control is considered when there is contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in joint arrangements are classified as either joint operations or joint venture. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement, have rights to the assets, and obligations for the liabilities relating to the arrangement. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. The Group has both joint operations and joint ventures. Joint operations The Group has joint operations within its oil and gas segment. It participates in several unincorporated joint operations which involve the joint control of assets used in oil and gas exploration and producing activities. The Group accounts for its share of assets, liabilities, income and expenditure of joint operations in which the Group holds an interest. Liabilities in unincorporated joint operations where the Group is the operator are accounted for at gross values (including share of other partners) with a corresponding receivable from the venture partner. These have been included in the consolidated financial statements under the appropriate headings. Details of joint operations are set out in Note 34(b). Joint venture The Group accounts for its interest in joint venture using the equity method (see Note B below), after initially being recognised at cost in the consolidated statements of financial position. Goodwill arising on the acquisition of joint venture is included in the carrying value of investments in joint venture. B. Investments in associates: An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but, is not control or joint control over those policies. Investments in associates are accounted for using the equity method. Goodwill arising on the acquisition of associates is included in the carrying value of investments in associate. Equity method of accounting Under the equity method of accounting applicable for investments in associates and joint ventures, investments are initially recorded at the cost to the Group and then, in subsequent periods, the carrying value is adjusted to reflect the Group’s share of the post-acquisition profits or losses of the investee, the Group’s share of other comprehensive income of the investee, other changes to the investees net assets and is further adjusted for impairment losses, if any. Dividend received or receivable from associate and joint ventures are recognised as a reduction in carrying amount of the investment. The consolidated statements of profit or loss and consolidated statements of comprehensive income include the Group’s share of investee’s results, except where the investee is generating losses share of such losses in excess of the Group’s interest in that investee are not recognised. Losses recognised under the equity method in excess of the Group’s investment in ordinary shares are applied to the other components of the Group’s interest that forms part of Group’s net investment in the investee in the reverse order of their seniority (i.e., priority in liquidation). If the Group’s share of losses in an associate or joint venture equals or exceeds its interests in the associate or joint venture, the Group discontinues the recognition of further losses. Additional losses are provided for only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the associate/ joint venture. Unrealised gains arising from transactions with associates and joint venture are eliminated against the investment to the extent of the Group’s interest in these entities. Unrealised losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment of the asset transferred. Accounting policies of equity accounted investees are changed where necessary to ensure consistency with the policies adopted by the Group. The carrying amount of equity accounted investments are tested for impairment in accordance with the policy described in Note 3 (a)(I) below. C. Business combinations Business combinations except those under common control are accounted for under the acquisition method. The acquiree’s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition under IFRS 3 (Business Combinations) Excess of fair value of purchase consideration and the acquisition date non-controlling re-assesses Those provisional amounts are adjusted through goodwill during the measurement period, or additional assets or liabilities are recognised, or the amounts at which existing assets or liabilities were recorded are remeasured to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the amounts recognised at that date. These adjustments are called as measurement period adjustments. The measurement period does not exceed twelve months from the acquisition date. Any non-controlling non-controlling Acquisition expenses are charged to the consolidated statements of profit or loss. If the Group acquires a group of assets in a company that does not constitute a business combination in accordance with IFRS 3, the cost of the acquired group of assets is allocated to the individual identifiable assets acquired based on their relative fair value. Common control transactions A business combination involving entities or businesses under common control is a business combination in which all of the combining entities or businesses are ultimately controlled by the same party or parties both before and after the business combination and the control is not transitory. The transactions between entities under common control are scoped out of IFRS 3 and there is no authoritative literature for these transactions under IFRS. As a result, the Group adopted accounting principles similar to the pooling-of-interest D. Revenue recognition Sale of products/ rendering of services (including revenue from contracts with customers) The Group’s revenue from contracts with customers is mainly from the sale of copper, aluminium, iron ore, zinc, oil and gas, power, steel, glass substrate and port operations. Revenue from contracts with customers is recognised when control of the goods or services is transferred to the customer which usually is on delivery of the goods to the shipping agent at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. Revenue is recognised net of discounts, volume rebates, outgoing sales taxes/ goods and service tax and other indirect taxes. Revenues from sale of by-products Certain of the Group’s sales contracts provide for provisional pricing based on the price on the London Metal Exchange (LME) and crude index, as specified in the contract. Revenue in respect of such contracts is recognised when control passes to the customer and is measured at the amount the entity expects to be entitled – being the estimate of the price expected to be received at the end of the measurement period. Post transfer of control of goods, provisional pricing features are accounted in accordance with IFRS 9 ( Financial Instruments) (Revenue from Contracts with Customers) Revenue from oil, gas and condensate sales represent the Group’s share in the revenue from sale of such products, by the joint operations, and is recognised as and when control in these products gets transferred to the customers. In computing its share of revenue, the Group excludes government’s share of profit which gets accounted for when the obligation in respect of the same arises. Revenue from sale of power is recognised when delivered and measured based on rates as per bilateral contractual agreements with buyers and at a rate arrived at based on the principles laid down under the relevant Tariff Regulations as notified by the regulatory bodies, as applicable. Where the Group acts as a port operator, revenues relating to operating and maintenance phase of the port contract are measured at the amount that Group expects to be entitled to for the services provided. A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs part of its obligation by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognised for the earned consideration when that right is conditional on the Group’s future performance. A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration from the customer. If a customer pays consideration before the Group transfers goods or services to the customer, a contract liability is recognised when the payment is received. The advance payments received, plus a specified rate of return/ discount at the prevailing market rates, are settled by supplying respective goods over a period of up to twenty four months under an agreed delivery schedule as per the terms of the respective agreements. As these are contracts that the Group expects and has the ability to fulfil through delivery of a non-financial Interest income Interest income from debt instruments is recognised using the effective interest rate method. The effective interest rate is the rate that discounts estimated future cash receipts through the expected life of the financial asset to the gross carrying amount of a financial asset. When calculating the effective interest rate, the Group estimates the expected cash flows by considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and similar options) but does not consider the expected credit losses. Dividends Dividend income is recognised in the consolidated statements of profit or loss only when the right to receive payment is established, provided it is probable that the economic benefits associated with the dividend will flow to the Group, and the amount of the dividend can be measured reliably. E (a) Property, plant and equipment (i) Mining properties When a decision is taken that a mining properties is viable for commercial production (i.e., when the Group determines that the mining properties will provide sufficient and sustainable return relative to the risks and the Group decided to proceed with the mine development), all further pre-production The stripping cost incurred during the production phase of a surface mine is deferred Deferred stripping costs are included in mining properties After initial recognition, the stripping activity asset is depreciated on a unit of production method over the expected useful life of the identified component of the ore body. In circumstances where a mining property is abandoned, the cumulative capitalised costs relating to the property are written off in the period in which it occurs, i.e., when the Group determines that the mining property will not provide sufficient and sustainable returns relative to the risks and the Group decides not to proceed with the mine development. Commercial reserves are proved and probable reserves as defined by the ‘JORC’ Code, ‘MORC’ code or ‘SAMREC’ Code. Changes in the commercial reserves affecting unit of production calculations are dealt with prospectively over the revised remaining reserves. (ii) Oil and gas assets- (developing/producing assets) For oil and gas assets a successful efforts based accounting policy is followed. Costs incurred prior to obtaining the legal rights to explore an area are expensed immediately to the consolidated statements of profit or loss. All costs incurred after the technical feasibility and commercial viability of producing hydrocarbons has been demonstrated are capitalised within property, plant and equipment—development/producing assets on a field-by-field Net proceeds from any disposal of development/producing assets are credited against the previously capitalised cost. A gain or loss on disposal of a development/producing asset is recognised in the consolidated statements of profit or loss to the extent that the net proceeds exceed or are less than the appropriate portion of the net capitalised costs of the asset. (iii) Other property, plant and equipment The initial cost of property, plant and equipment comprises its purchase price, including import duties and non-refundable If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. All other expenses on existing property, plant and equipment, including day-to-day Gains and losses on disposal of an item of property, plant and equipment, computed as the difference between the net disposal proceeds and the carrying amount of the asset, are included in the consolidated statements of profit or loss when the asset is derecognised. Major inspection and overhaul expenditure is capitalised, if the recognition criteria are met. (iv) Assets under construction Assets under construction are capitalised in the assets under construction account. At the point when an asset is capable of operating in the manner intended by management, the cost of construction is transferred to the appropriate category of property, plant and equipment. Costs associated with the commissioning of an asset and any obligatory decommissioning costs are capitalised until the period of commissioning has been completed and the asset is ready for its intended use. Asset under construction are presented at cost, net of accumulated impairment losses, if any. (v) Depreciation, depletion and amortisation expense Mining properties and other assets in the course of development or construction, freehold land and goodwill are not depreciated or amortised. Mining properties The capitalised mining properties are amortised on a unit-of-production Oil and gas producing facilities All expenditures carried within each field are amortised from the commencement of production on a unit of production basis, which is the ratio of oil and gas production in the period to the estimated quantities of commercial reserves at the end of the period plus the production in the period, generally on a field-by-field Commercial reserves are proven and probable oil and gas reserves, which are defined as the estimated quantities of crude oil, natural gas and natural gas liquids which geological, geophysical and engineering data demonstrate with a specified degree of certainty to be recoverable in future years from known reservoirs and which are considered commercially producible. Costs used in the unit of production calculation comprise the net book value of capitalised costs plus the estimated future field development costs required to access the commercial reserves. Changes in the estimates of commercial reserves or future field development costs are recorded prospectively. The estimates of hydrocarbon reserves and resources have been derived in accordance with the Society of Petroleum Engineers “Petroleum Resources Management System (2018)”. Other assets Depreciation on property, plant and equipment is calculated using the straight-line method (SLM) to allocate their cost, net of their residual values, over their estimated useful lives (determined by the management) as given below. Management’s assessment takes into account, inter alia, the nature of the assets, the estimated usage of the assets, the operating conditions of the assets, past history of replacement and maintenance support. Estimated useful life of assets are as follows: ASSET Useful life (in years) Buildings (residential; factory etc.) 3 - 60 Plant and equipment 15 - 40 Railway sidings 15 Office equipment 3 - 6 Furniture and fixtures 8 - 10 Vehicles 8 - 10 Major inspection and overhaul costs are depreciated over the estimated life of the economic benefit to be derived from such costs. The carrying amount of the remaining previous overhaul cost is charged to the consolidated statements of profit or loss if the next overhaul is undertaken earlier than the previously estimated life of the economic benefit. The Group reviews the residual value and useful life of an asset at least at each financial year end , (b) Exploration and evaluation assets Exploration and evaluation expenditure incurred prior to obtaining the mining right or the legal right to explore are expensed as incurred. Exploration and evaluation expenditure incurred after obtaining the mining right or the legal right to explore are capitalised as exploration and evaluation assets (intangible assets) and stated at cost less impairment, if any. Exploration and evaluation assets are transferred to the appropriate category of property, plant and equipment when the technical feasibility and commercial viability has been determined. Exploration and evaluation assets are assessed for impairment and impairment loss, if any, is recognised prior to reclassification. Exploration expenditure includes all direct and allocated indirect expenditure associated with finding specific mineral resources which includes depreciation and applicable operating costs of related support equipment and facilities and other costs of exploration activities: • Acquisition costs—costs associated with acquisition of licenses and rights to explore, including related professional fees. • General exploration costs—costs of surveys and studies, rights of access to properties to conduct those studies (e.g., costs incurred for environment clearance, defence clearance, etc.), and salaries and other expenses of geologists, geophysical crews and other personnel conducting those studies. • Costs of exploration drilling and equipping exploration and appraisal wells. Exploration expenditure incurred in the process of determining oil and gas exploration well-by-well well-by-well Following appraisal of successful exploration wells, if commercial reserves are established and technical feasibility for extraction demonstrated, then the related capitalised exploration costs are transferred into a single field cost centre within property, plant and equipment—development/ producing assets (oil and gas properties) after testing for impairment. Where results of exploration drilling indicate the presence of hydrocarbons which are ultimately not considered commercially viable, all related costs are written off to the consolidated statements of profit or loss. Expenditure incurred on the acquisition of a licence interest is initially capitalised on a licence-by-licence Net proceeds from any disposal of an exploration asset are initially credited against the previously capitalised costs. Any surplus/ deficit is recognised in the consolidated statements of profit or loss. (c) Other Intangible assets Intangible assets acquired separately are measured on initial recognition at cost. Subsequently, intangibles assets are measured at cost less accumulated amortisation and accumulated impairment losses, if any. The Group recognises port concession rights as “Intangible Assets” arising from a service concession arrangement in which the grantor controls or regulates the services provided and the prices charged and also controls any significant residual interest in the infrastructure such as property, plant and equipment, irrespective whether the infrastructure is existing infrastructure of the grantor or the infrastructure is constructed or purchased by the Group as part of the service concession arrangement. Such an intangible asset is recognised by the Group initially at cost determined as the fair value of the consideration received or receivable for the construction service delivered and is capitalised when the project is complete in all respects. Port concession rights are amortised on straight line basis over the balance of license period. The concession period Any addition to the port concession rights are measured at fair value on recognition. Port concession rights also include certain property, plant and equipment in accordance with IFRIC 12 (Service Concession Arrangements) Intangible assets are amortised over their estimated useful life on a straight line basis. Software is amortised over the estimated useful life ranging from 2-5 16-25 know-how Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the consolidated statements of profit or loss when the asset is derecognised. The amortisation period and the amortisation method are reviewed at least at each financial year end. If the expected useful life of the asset is different from previous estimates, the change is accounted for prospectively as a change in accounting estimate. F. Non-current Non-current Non-current G. Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. (a) Financial Assets – Recognition and subsequent measurement All financial assets are recognised initially at fair value plus, in the case of financial assets not recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition of the financial asset. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace (regular way trades) are recognised on the trade date, i.e., the date that the Group commits to purchase or sell the asset. For purposes of subsequent measurement, financial assets are classified in four categories: Debt instruments at amortised cost A ‘debt instrument’ is measured at amortised cost if both the following conditions are met: a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. After initial measurement, such financial assets are subsequently measured at amortised cost using the Effective Interest Rate (EIR) method. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included in interest income in consolidated statements of profit or loss. The losses arising from impairment are recognised in consolidated statements of profit or loss. Debt instruments at fair value through other comprehensive income (FVOCI) A ‘debt instrument’ is classified as at FVOCI if both of the following criteria are met: a) The objective of the business model is achieved both by collecting contractual cash flows and selling the financial assets, and b) The asset’s contractual cash flows represent SPPI. Debt instruments included within the FVOCI category are measured initially, as well as at each reporting date, at fair value. Fair value movements are recognised in other comprehensive income (OCI). However, interest income, impairment losses and reversals and foreign exchange gain or loss are recognized in the consolidated statements of profit or loss. On derecognition of the asset, cumulative gain or loss previously recognised in other comprehensive income is reclassified from the equity to consolidated statements of profit or loss. Interest earned whilst holding fair value through other comprehensive income debt instrument is reported as interest income using the EIR method. Debt instruments at fair value through profit or loss (FVTPL) FVTPL is a residual category for debt instruments. Any debt instrument which does not meet the criteria for categorization as at amortised cost or as FVOCI is classified as FVTPL. In addition, the Group may elect to designate a debt instrument which otherwise meets amortised cost or FVOCI criteria as FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred to as ‘accounting mismatch’). Debt instruments included within the FVTPL category are measured at fair value with all changes being recognised in consolidated statement of profit or loss. The Group has not designated any debt instrument as FVTPL. Equity Instruments All equity investments in the scope of IFRS 9 are measured at fair value. Equity instruments which are held for trading and contingent consideration recognised by an acquirer in a business combination to which IFRS 3 applies are classified as at FVTPL. For all other equity instruments, the Group may make an irrevocable election to present in other comprehensive income any subsequent changes in the fair value. The Group makes such election on an instrument-by-instrument If the Group decides to classify an equity instrument as at FVOCI, then all fair value changes on the instrument, excluding dividends, are recognised in the OCI. There is no recycling of the amounts from OCI to profit or loss, even on sale of investment. However, the Group may transfer the cumulative gain or loss within equity. For equity instruments which are classified as FVTPL, all subsequent fair value changes are recognised in the consolidated statements of profit or loss. (b) Financial Assets—Derecognition The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. (c) Impairment of Financial Assets In accordance with IFRS 9, the Group applies expected credit loss (“ECL”) model for measurement and recognition of impairment loss on the following financial assets: i) Financial assets that are debt instruments, and are measured at amortized cost, e.g., loans, debt securities and deposits; ii) Financial assets that are debt instruments and iii) Trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of IFRS 15. The Group follows the ‘simplified approach’ for recognition of impairment loss allowance on trade receivables, contract assets and lease receivables. The application of simplified approach does not require the Group to track changes in credit risk. Rather, it recognizes impairment loss allowance based on lifetime ECLs at each reporting date right from its initial recognition. At each reporting date, for recognition of impairment loss on other financial assets and risk exposure, the Group determines whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month 12-month Lifetime ECL is the expected credit loss resulting from all possible default events over the expected life of a financial instrument. The 12-month ECL is the difference between all contractual cash flows that are due to the Group in accordance with the contract and all the cash flows that the entity expects to receive, discounted at the original EIR. ECL impairment (loss allowance)/reversal during the year is recognised as (expense)/income in the consolidated statements of profit or loss. The consolidated statements of financial position presentation for various financial instruments is described below: i) Financial assets measured at amortised cost: ECL is presented as an allowance, i.e., as an integral part of the measurement of those assets. The Group does not reduce impairment allowance from the gross carrying amount. ii) Debt instruments measured at FVOCI: Since financial assets are already reflected at fair value, impairment allowance is not further reduced from its value. Rather, ECL amount is presented as ‘accumulated impairment amount’ in OCI. For assessing increase in credit risk and impairment loss, the Group combines financial instruments on the basis of shared credit risk characteristics with the objective of facilitating an analysis that is designed to enable significant increases in credit risk to be identified on a timely basis. The Group does not have any purchased or originated credit-impaired (POCI) financial assets, i.e., financial assets which are credit impaired on purchase/origination. (d) Financial Liabilities – Recognition and Subsequent measurement Financial liabilities are classified, at initial recognition, at fair value through profit or loss, or as loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognised initially at fair value, and in the case of financial liabilities at amortised cost, net of directly attributable transaction costs. The Group’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, financial guarantee contracts and derivative financial instruments. The measurement of financial liabilities depends on their classification, as described below: Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognised in the consolidated statements of profit or loss. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. For liabilities designated as FVTPL, fair value gains/ losses attributable to changes in own credit risk are recognised in OCI. These gains/ losses are not subsequently transferred to consolidated statements of profit or loss. However, the Group may transfer the cumulative gain or loss within equity. All other changes in fair value of such liability are recognised in the consolidated statements of profit or loss. The Group has not designated any financial liability at fair value through profit or loss. Financial liabil |
Business Combination and Others
Business Combination and Others | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Business Combination and Others | 4. Business Combination and Others Ferro Alloys Corporation Limited—Business Combination During the previous year ended March 31, 2021, the Company acquired control over FACOR under Corporate insolvency resolution process in terms of the Insolvency and Bankruptcy Code, 2016 of India. Based on completion of the closing conditions, the Company concluded the acquisition on September 21, 2020. The Company holds 100% in FACOR, while FACOR holds 90% equity in its subsidiary, Facor Power Limited (FPL). FACOR is in the business of producing Ferro Alloys and owns a Ferro Chrome plant with capacity of 72,000 TPA, two operational Chrome mines and 100 MW of Captive Power Plant through FPL. The acquisition complements the Group’s existing steel business as the vertical integration of ferro manufacturing capabilities has the potential to generate significant efficiencies. FACOR has been included in “Others” for segment reporting purposes. The Company had finalised acquisition accounting during th e If FACOR had been acquired at the beginning of year ended March 31, 2021, the Group revenue would have been ₹ ₹ |
Segment information
Segment information | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Segment information | 5. Segment information Description of segment and principal activities The Group is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil and gas. The Group produces zinc, lead, silver, copper, aluminium, iron ore, oil and gas and commercial power and has a presence across India, South Africa, Namibia, the UAE, Ireland, Australia, Japan, South Korea, Taiwan and Liberia. The Group is also in the business of port operations and manufacturing of glass substrate and steel. The Group has seven Segment Revenue, Profit, Assets and Liabilities include the respective amounts identifiable to each of the segments and amount allocated on a reasonable basis. Unallocated expenditure consists of common expenditure incurred for all the segments and expenses incurred at corporate level. The assets and liabilities that cannot be allocated between the segments are shown as unallocated assets and unallocated liabilities, respectively. The accounting policies of the reportable segments are the same as the Group’s accounting policies described in Note 3. The reportable segments are the segments of the Group for which separate financial information is available. Earnings Before Interest, Taxes, Depreciation and Amortization, Impairment and other items (“Segment profit or EBITDA”) are evaluated regularly by the CODM in deciding how to allocate resources and in assessing performance and is a non-IFRS Transfer prices between operating segments are on arm length basis in a manner similar to transactions with third parties. The following table presents revenue and profit information and certain assets and liabilities information regarding the Group’s reportable segments for the years ended March 31, 2020, March 31, 2021 and March 31, 2022 and as at March 31, 2021 and March 31, 2022: a. Year ended March 31, 2020 Copper Zinc India Zinc International Aluminium Power Iron Oil and Gas Others Elimination Total ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in Revenue Sales 90,517 181,590 31,275 265,445 58,599 34,500 126,608 46,912 — 835,446 Inter-segment sales 9 — — 328 — 130 — 913 (1,380 ) — Segment revenue 90,526 181,590 31,275 265,773 58,599 34,630 126,608 47,825 (1,380 ) 835,446 Cost of sales and expenses (1) (93,420 ) (94,450 ) (27,477 ) (245,837 ) (42,109 ) (26,318 ) (53,925 ) (43,187 ) 1,380 (625,343 ) Segment profit / (loss) (2,894 ) 87,140 3,798 19,936 16,490 8,312 72,683 4,638 — 210,103 Depreciation and amortisation (1,471 ) (22,610 ) (6,329 ) (17,183 ) (5,701 ) (2,413 ) (40,077 ) (4,706 ) — (100,490 ) Impairment (Refer Note14) (6,692 ) — — — — (1,201 ) (135,031 ) (5,098 ) — (148,022 ) Other items* (2,028 ) — (42 ) 1,681 — — — — — (1,525 ) Operating profit / (loss) (13,085 ) 64,530 (2,573 ) 4,434 10,789 4,698 (102,425 ) (5,166 ) — (39,934 ) Investment and other income 25,714 Finance and other costs (54,557 ) Loss before tax (68,777 ) Additions to property, plant and equipments, exploration and evaluation assets and intangible assets** 2,192 46,088 7,552 14,187 671 1,081 45,490 2,373 119,668 (1) Expenses includes Distribution and administrative expenses excluding non cash items disclosed separately. * Other items represent provision for receivables from KCM of ₹ ₹ ₹ ** The total of additions includes ₹ b. Year ended March 31, 2021 Copper Zinc India Zinc International Aluminium Power Iron Oil and Gas Others Elimination Total ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in Revenue Sales 108,879 219,316 27,290 285,756 53,752 44,875 75,308 53,454 — 868,630 Inter-segment sales 18 — — 686 — 409 — 313 (1,426 ) — Segment revenue 108,897 219,316 27,290 286,442 53,752 45,284 75,308 53,767 (1,426 ) 868,630 Cost of sales and expenses (1) (110,650 ) (103,116 ) (19,190 ) (208,919 ) (39,682 ) (27,108 ) (43,142 ) (44,634 ) 1,426 (595,015 ) Segment profit / (loss) (1,753 ) 116,200 8,100 77,523 14,070 18,176 32,166 9,133 — 273,615 Depreciation and amortisation (1,533 ) (24,617 ) (3,211 ) (16,926 ) (5,749 ) (2,208 ) (21,274 ) (5,660 ) — (81,178 ) Asset u construction written off (Refer Note 14) — — — (1,811 ) — — — (629 ) — (2,440 ) Other items* (2,086 ) — (40 ) 950 — — — (2,135 ) — (3,145 ) Operating profit / (loss) (5,372 ) 91,583 4,849 59,736 8,321 15,968 10,892 709 — 186,852 Investment and other income 32,177 Finance and other costs (52,955 ) Profit before tax 166,074 Assets and liabilities Assets Segment assets# 59,570 200,072 60,740 477,070 163,620 33,039 181,108 78,160 — 1,253,379 Financial assets investments 1,532 Deferred tax asset 73,958 Short-term investments 281,775 Cash and cash equivalents (including restricted cash and cash equivalents) 49,563 Income tax assets 27,549 Loans to related party 70,712 Others 12,779 Total assets 1,771,247 Liabilities Segment liabilities# 43,277 47,217 10,672 156,994 18,405 12,269 111,776 21,126 421,736 Borrowings 569,222 Current tax liabilities 2,792 Deferred tax liabilities 21,894 Others 21,554 Total liabilities 1,037,198 Additions to property, plant and equipments, exploration and evaluation assets and intangible assets** 622 25,163 3,754 17,135 267 985 15,192 6,019 69,155 (1) Expenses includes Distribution and administrative expenses excluding non cash items disclosed separately. * Other items represent provision for receivables from KCM of ₹ ₹ ₹ ₹ ** The total of additions includes ₹ ₹ # Restated. Refer Note 2(c) c. Year ended March 31, 2022 Copper Zinc India Zinc International Aluminium Power Iron Oil and Gas Others Elimination Total Total ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars Revenue Sales 151,511 286,241 44,841 508,091 55,005 62,330 124,301 79,597 — 1,311,917 17,292 Inter-segment sales — — 3 718 3,250 1,170 — 118 (5,259 ) — — Segment revenue 151,511 286,241 44,844 508,809 58,255 63,500 124,301 79,715 (5,259 ) 1,311,917 17,292 Cost of sales and expenses (1) (152,642 ) (124,621 ) (29,501 ) (335,435 ) (47,439 ) (40,830 ) (64,415 ) (69,332 ) 5,259 (858,956 ) (11,321 ) Segment profit/(loss) (1,131 ) 161,620 15,343 173,374 10,816 22,670 59,886 10,383 — 452,961 5,971 Depreciation and (1,467 ) (28,082 ) (5,126 ) (19,960 ) (5,700 ) (2,385 ) (22,949 ) (5,479 ) — (91,148 ) (1,201 ) Impairment reversal/(charge)** — — — — — — 62,745 — — 62,745 827 Exploration cost written off** — — — — — — (26,181 ) — — (26,181 ) (345 ) Asset under construction written off** — — — — — — — (701 ) — (701 ) (9 ) Other Items* (2,126 ) (1,342 ) (46 ) (3,757 ) (370 ) — — (69 ) — (8,049 ) (108 ) Operating profit/(loss) (4,724 ) 132,196 10,171 149,657 4,746 20,285 73,501 4,134 — 389,627 5,135 Investment and other income 19,947 263 Finance and other costs (49,427 ) (651 ) Profit before tax 360,147 4,747 Assets and liabilities Assets Segment assets 56,569 2,15,297 69,938 535,182 160,665 46,027 262,757 91,395 — 1,437,830 18,951 Financial assets investments 1,472 19 Deferred tax asset 64,537 851 Short-term investments 235,932 3,110 Cash and cash equivalents (including restricted cash and cash equivalents) 91,383 1,205 Income tax assets 27,877 367 Others 70,476 929 Total assets 1,929,507 25,432 Liabilities Segment liabilities 49,703 50,191 11,594 173,784 17,152 25,171 161,376 26,679 515,650 6,796 Borrowings 530,967 6,999 Current tax liabilities 9,192 121 Deferred tax liabilities 52,988 698 Others 13,588 181 Total liabilities 1,122,385 14,795 Additions to property, plant and equipments, exploration and evaluation assets and intangible assets*** 395 38,284 11,037 35,835 1,067 2,965 17,875 12,812 — 120,469 1,588 (1) Expenses includes Distribution and administrative expenses excluding non cash items disclosed separately. * Other items represent provision for receivables from KCM of ₹ ₹ N ₹ ₹ ₹ ₹ ** Refer Note 14B(1) and 14B(2). *** The total of additions includes ₹ Geographical Segment Analysis The Group’s operations are located in India, Namibia, South Africa, UAE, Liberia, Ireland, Australia, South Korea and Taiwan. The following table provides an analysis of the Group’s sales by geographical market irrespective of the origin of the goods: Year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars in million) India 542,256 536,212 736,192 9,703 Europe 40,224 35,960 210,282 2,772 China 26,942 52,213 96,671 1,274 The United States of America 17,068 11,634 34,871 460 Mexico 6,496 9,318 23,111 305 Malaysia 76,479 71,092 5,480 72 Oth e 125,981 152,201 205,310 2,706 835,446 868,630 1,311,917 17,292 The following is an analysis of the carrying amount of non-current non-current which As at March 31 2021 2022 2022 Carrying amount Carrying Amount Carrying Amount ( ₹ in ( ₹ in (US dollars in million) India 954,629 1,008,838 13,297 South Africa 44,486 51,048 673 Namibia 8,870 9,904 131 Taiwan 10,029 8,928 118 Others 7,883 6,456 85 1,025,897 1,085,174 14,304 Information about major customer No single customer has accounted for more than 10% of the Group’s revenue for the year ended March 31, 2022. (March 31, 2020: No Customer and March 31, 2021: Revenue from one customer amounted to ₹ segment.) Disaggregation of Revenue Below table summarises the disaggregated revenue from contracts with customers: — Year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Oil 109,062 64,798 102,751 1,354 Gas 7,945 6,837 17,119 226 Zinc Metal 157,559 166,343 247,092 3,257 Lead Metal 34,702 38,803 42,400 559 Silver Metal & Bars 24,756 43,949 42,151 556 Iron Ore 14,820 21,734 23,538 310 Metallurgical Coke 553 2,565 4,065 54 Pig Iron 22,394 24,249 41,231 543 Copper Products 73,489 102,049 142,812 1,882 Aluminium Products 254,293 283,944 512,535 6,755 Power 44,064 36,509 38,861 512 Steel Products 37,850 39,663 56,977 751 Ferro Alloys — 2,740 8,300 109 Others 37,465 21,261 31,173 412 Revenue from contracts with customers* 818,952 855,444 1,311,005 17,280 Revenue from contingent rents 16,729 15,147 13,812 182 Loss on provisionally priced contracts under IFRS 9 (Refer Note 6(a)) (12,995 ) (1,961 ) (12,900 ) (170 ) JV partner’s share of the exploration costs approved under the OM (Refer Note 6(b)) 12,760 — — — Total Revenue 835,446 868,630 1,311,917 17,292 * Includes ₹ ₹ ₹ , |
Revenue
Revenue | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Revenue | 6. Revenue For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Sale of products 816,558 851,244 1,295,098 17,070 Sale of services 2,159 2,239 3,007 40 Revenue from contingent rents 16,729 15,147 13,812 182 835,446 868,630 1,311,917 17,292 a) Revenue from sale of products and from sale of services comprises of revenue from contracts with customers of ₹ ₹ ₹ million) for the years ended March 31, 2020, March 31, 2021 and March 31, 2022, respectively, and a net loss on mark-to-market of ₹ ₹ ₹ million) on account of gains/losses relating to sales of product that were provisionally priced as at the beginning of the respective year with the final price settled during the subsequent year s b) Government of India (GoI) vide Office Memorandum (“OM”) No. O-19025/10/2005-ONG-DV ₹ the c) Majority of the Group’s sales are against advances or are against letters of credit/cash against documents/guarantees of banks of national standing. Where sales are made on credit, the amount of consideration does not contain any significant financing component as payment terms are within three months. As per the terms of the contract with its customers, either all performance obligations are to be completed within one year from the date of such contracts or the Group has a right to receive consideration from its customers for all completed performance obligations. Accordingly, the Group has availed the practical expedient available under paragraph 121 of IFRS 15 and dispensed with the additional disclosures with respect to performance obligations that remained unsatisfied (or partially unsatisfied) at the reporting date. Further, since the terms of the contracts directly identify the transaction price for each of the completed performance obligations, in all material respects, there are no elements of transaction price which have not been included in the revenue recognised in the financial statements. Further, there is no material difference between the contract price and the revenue from contract with customers. |
Investment and other income
Investment and other income | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Investment and other income | 7. Investment and other income For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Fair value gain on financial assets held for trading / fair value through profit or loss (FVTPL) (1) 5,574 9,340 2,087 28 Interest and dividend Income: Interest income on financial assets held for trading/FVTPL 10,169 4,779 3,925 52 Interest income on bank deposits at amortized cost 2,183 5,649 5,371 70 Interest income on loans and receivables at amortized cost (Refer Note 35(b)) 4,518 9,806 9,538 126 Other interest income 287 810 21 0 Dividend income on available for sale investments held at FVOCI 17 17 16 0 Dividend income – financial assets held for trading/FVTPL 477 13 2 0 Bargain gain net of acquisition cost — 1,232 — — Foreign exchange gain/ (loss) net 2,489 531 (1,013 ) (13 ) 25,714 32,177 19,947 263 Notes: (1) Income for the year ended March 31, 2020 includes mark to market loss of ₹ million relating to structured investments purchased from Volcan Investments Limited (Refer Note 35(f)). |
Finance and other costs
Finance and other costs | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Finance and other costs | 8. Finance and other costs For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Interest expense on financial liabilities at amortised cost (1) 56,175 51,844 47,124 621 Unwinding of discount on provisions 962 721 777 10 Net foreign exchange loss/(gain) on borrowings and creditors for capital expenditure 4,789 (180 ) 1,455 19 Transaction costs paid to the ultimate parent company (Refer Note 35(f)) — 1,032 — — Other finance costs 2,588 2,502 2,985 39 Net interest on defined benefit arrangements 212 194 212 3 Capitalisation of finance costs (2) (10,169 ) (3,158 ) (3,126 ) (41 ) 54,557 52,955 49,427 651 Notes: (1) Includes interest expense on lease liabilities for the year ended March 31, 2020, March 31, 2021 and March 31, 2022 of ₹ ₹ ₹ ( 2 Interest rate of 7.49%, 6.91% and 7.87% was used to determine the amount of general borrowing costs eligible for capitalization in respect of qualifying asset for the year ended March 31, 2020, March 31, 2021 and March 31, 2022 respectively. |
Income tax expense
Income tax expense | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Income tax expense | 9. Income tax expense Overview of the Indian direct tax regime Indian companies are subject to Indian income tax on a standalone basis. Each entity is assessed for tax on taxable profits determined for each financial year beginning on April 1 and ending on March 31. For each financial year, the respective entities’ profit or loss is subject to the higher of the regular income tax payable or the minimum alternative tax (“MAT”). Statutory income taxes are assessed based on book profits prepared under generally accepted accounting principles in India (“Indian GAAP”) adjusted in accordance with the provisions of the (Indian) Income tax Act, 1961. Such adjustments generally relate to depreciation of fixed assets, disallowances of certain provisions and accruals, deduction for tax holidays and similar exemptions, the use of tax losses carried forward and retirement benefit costs. Statutory income tax is charged at 30 % plus a surcharge and education cess. The combined Indian statutory tax rate for the financial years 2019-20, for the subsidiaries who have opted new tax regime (refer Note 3(c) (I)( viii ). MAT is assessed on book profits adjusted for certain limited items as compared to the adjustments allowed for assessing regular income tax under normal provisions. MAT for financial years 2019-20, 2020-21 2021-22 % plus surcharge and education cess. The combined Indian statutory tax rate of MAT for the financial years 2019-20, 2020-21 2021-22 Business losses in India can be carried forward for a maximum period of eight assessment years immediately succeeding the assessment year to which the loss pertains. Unabsorbed depreciation can be carried forward for an indefinite period. Losses arising out of transfer of capital assets in India can be carried forward for a maximum period of eight assessment years immediately succeeding the assessment year to which the loss pertains. The carried forward long term capital losses can be set-off Income tax returns submitted by companies are regularly subjected to a comprehensive review and challenge (a) Tax charge/ (credit) recognised in the consolidated statement of profit or loss For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Current tax: Current tax on profit for the year 17,911 20,671 63,119 832 Credit in respect of current tax for earlier years (33 ) (14 ) (25 ) (0 ) Total current tax (a) 17,878 20,657 63,094 832 Deferred tax: Reversal and origination of temporary differences (44,562 ) (1,546 ) 40,807 538 Charge/(Credit) in respect 7 (27 ) (833 ) (11 ) Total Deferred Tax (b) (44,555 ) (1,573 ) 39,974 527 Total income tax (credit)/expense for the year (a+b) (26,677 ) 19,084 103,068 1,359 (Loss)/Profit (68,777 ) 166,074 360,147 4,747 Effective income tax rate (%) 38.8 % 11.5% 28.6% 28.6% (b) For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars (Loss)/Profit before tax (68,777 ) 166,074 360,147 4,747 Indian statutory income tax rate 34.94 % 34.94 % 34.94 % 34.94 % Tax at Indian statutory income tax rate (24,033 ) 58,034 125,850 1,659 Non-taxable income (1,406 ) (1,227 ) (1,366 ) (18 ) Tax holidays and similar exemptions (Refer Notes below) (4,934 ) (7,710 ) (19,559 ) (258 ) Effect of tax rates differences of subsidiaries operating at other rates (581 ) (3,625 ) 2,750 36 Tax on distributable reserve of/ dividend from subsidiary # 19,532 8,690 — — Unrecognized tax assets (Net)* (713 ) (31,932 ) 98 1 Change in deferred tax balances due to change in tax law** (17,760 ) (3,125 ) (2,715 ) (36 ) Capital gains/Other income subject to lower tax rate (2,733 ) (1,756 ) (3,435 ) (45 ) Credit in respect of earlier years (26 ) (41 ) (858 ) (11 ) Other permanent differences 5,977 1,776 2,303 31 Total income tax expense/(credit) (26,677 ) 19,084 103,068 1,359 # Consequent to the declaration of dividend (including from accumulated profits) by the subsidiaries, the unabsorbed depreciation as per tax laws have been utilized by Vedanta Limited leading to a deferred tax charge of ₹ 19,532 ₹ 8,690 * In June 2018, the Company acquired majority stake in ESL Steel Limited (“ESL”), which has since been focusing on operational turnaround. Based on management’s estimate of future outlook, financial projections and requirements of IAS 12 (Income taxes), ESL has recognized deferred tax assets of ₹ 31,823 million during the year ended March 31, 2021. During the year ended March 31, 2022, ESL derecognized deferred tax assets on losses expired in the current year amounting to ₹ 1,220 million ($ 16 million). B ased on revised financial forecasts, management is confident of realising the remaining deferred tax assets fully. ** Deferred tax charge for the year ended March 31, 2020 includes deferred tax credit of ₹ million on remeasurement of deferred tax balance as at March 31, 2019. Also, refer Note 3(c)(I)(viii). Certain businesses of the Group within India are eligible for specified tax incentives which are included in the table above as tax holidays and similar exemptions. Most of such tax exemptions are relevant for the companies operating in India. These are briefly described as under: The location based exemption In order to boost industrial and economic development in undeveloped regions, provided certain conditions are met, profits of newly established undertakings located in certain areas in India may benefit from tax holiday under section 80IC of the Income Tax Act, 1961. Such tax holiday works to exempt 100% of the profits for the first five years from the commencement of the tax holiday, and 30 % of profits for the subsequent five years. This deduction is available only for units established up to March 31, 2012. However, such undertaking would continue to be subject to MAT provisions. In the fiscal year ended March 31, 2021, undertaking at Pantnagar, which is part of HZL, was the only unit eligible for deduction at 30% of taxable profit. The location based exemption: SEZ Operations In order to boost industrial development and exports, provided certain conditions are met, profits of undertaking located in Special Economic Zone (‘SEZ’) may benefit from tax holiday. Such tax holiday works to exempt 100% of the profits for the first five years from the commencement of the tax holiday, 50% of profits for five years thereafter and 50 % of the profits for further five years provided the amount allowable in respect of deduction is credited to Special Economic Zone Re-Investment The Group has setup SEZ Operations in its aluminum division of Vedanta Limited where such benefit has been drawn. Sectoral Benefit—Power Plants and Port Operations To encourage the establishment of infrastructure, certain power plants and ports have been offered income tax exemptions of upto 100% of profits and gains for any ten consecutive years within the 15 year period following commencement of operations subject to certain conditions under section 80IA of the Income Tax Act, 1961. The Group currently has total operational capacity of 8.25 Giga Watts (GW) of thermal based power generation facilities and wind power capacity of 274 Mega Watts (MW) and port facilities. However, such undertakings would continue to be subject to MAT provisions. The Group has power plants which benefit from such deductions, at various locations of HZL, Vedanta Limited (where such benefits has been drawn), TSPL and BALCO (where no benefit has been drawn). Further tax incentives exist for certain other infrastructure facilities to exempt 100% of profits and gains for any ten consecutive years within the 20-year The Group operates a zinc refinery in Export Processing Zone, Namibia which has been granted tax exempt status by the Namibian government. In addition, the subsidiaries incorporated in Mauritius are eligible for tax credit to the extent of 80% of the applicable tax rate on foreign source income. The total effect of such tax holidays and exemptions was ₹ ₹ ₹ million) for the years ended March 31, 2020, March 31, 2021 and March 31, 2022, respectively. (c) Deferred tax assets/liabilities The Group has recorded significant amounts of deferred tax. The majority of the deferred tax liabilities represents accelerated tax relief for the depreciation of property plant and equipment, the depreciation of mining reserves and the fair value uplifts created on acquisitions, net of losses carried forward by the Group and unused tax credits in the form of MAT credits carried forward in the Group. Significant components of Deferred tax (assets) and liabilities recognized in the consolidated statement of financial position are as follows: For the year ended March 31, 2020: Opening Charged/ Charged/ Exchange Closing Significant components of deferred tax (assets)/liabilities ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in Property, plant and equipment, exploration and evaluation and other intangible assets 139,548 (61,429 ) — (93 ) 78,026 Voluntary retirement scheme (395 ) 111 — — (284 ) Employee benefits (1,098 ) 6 (714 ) 49 (1,757 ) Fair value of derivative asset/ liability (357 ) (69 ) 324 — (102 ) Fair valuation of other asset/liability 8,471 911 (1 ) 593 9,974 MAT credit entitlement (103,243 ) 11,605 251 129 (91,258 ) Unabsorbed depreciation and business losses (45,655 ) (9,223 ) — — (54,878 ) Other temporary differences (5,947 ) 13,533 (590 ) 289 7,285 Total (8,676 ) (44,555 ) (730 ) 967 (52,994 ) For the year ended March 1 Opening Charged/ Charged/ Charged to Deferred tax Exchange Closing Significant components of deferred tax (assets)/liabilities ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in Property, plant and equipment, e e 78,026 (145 ) — — 498 1,647 80,026 Voluntary retirement scheme (284 ) (246 ) — — — — (530 ) Employee benefits (1,757 ) (222 ) 104 319 — (94 ) (1,650 ) Fair value of derivative asset/ liability (102 ) 93 (256 ) — — — (265 ) Fair valuation of other asset/liability 9,974 (2,422 ) 9 — — (277 ) 7,284 MAT credit entitlement* (91,258 ) 8,621 249 — — 30 (82,358 ) Unabsorbed depreciation and business losses (54,878 ) 7,837 — — — — (47,041 ) Other temporary differences 7,285 (15,089 ) 352 — 104 (182 ) (7,530 ) Total (52,994 ) (1,573 ) 458 319 602 1,124 (52,064 ) For the year ended March 31, 202 2 Opening Charged/ Charged/ Charged to Exchange Closing Closing Significant components of deferred tax (assets)/liabilities ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars Property, plant and equipment, Exploration and e 80,026 27,793 — — 924 108,743 1,433 Voluntary retirement scheme (530 ) 151 — — — (379 ) (5 ) Employee benefits (1,650 ) (2,008 ) (13 ) 102 (114 ) (3,683 ) (49 ) Fair value of derivative asset/ liability (265 ) (207 ) (387 ) — — (859 ) (11 ) Fair valuation of other asset/liability 7,284 (314 ) — — (418 ) 6,552 86 MAT credit entitlement* (82,358 ) 15,047 (75 ) (157 ) (42 ) (67,585 ) (891 ) Unabsorbed depreciation and business losses (47,041 ) 2,077 — — — (44,964 ) (593 ) Other temporary differences (7,530 ) (2,565 ) 741 — (20 ) (9,374 ) (123 ) Total (52,064 ) 39,974 266 (55 ) 330 (11,549 ) (153 ) Deferred tax assets and liabilities have been offset where they arise in the same taxing jurisdiction with a legal right to offset income tax assets against income tax liabilities but not otherwise. Accordingly, the net deferred tax (assets)/liability has been disclosed in the consolidated statement of financial position as follows: As at March 31, 2021 2022 2022 Particulars ( ₹ in ( ₹ in (US dollars Deferred tax assets (73,958 ) (64,537 ) (851 ) Deferred tax liabilities 21,894 52,988 698 Net deferred tax (asset)/ liability (52,064 ) (11,549 ) (153 ) * Recognition of deferred tax assets on MAT credits entitlement is based on the respective legal entity’s present estimates and business plans as per which the same is expected to be utilized within the stipulated fifteen-year period from the date of origination. MAT credit entitlements of ₹ 82,358 million and ₹ 67,585 million ($ 891 million) as at March 31, 2021 and March 31, 2022, respectively, of which ₹ 3,400 million as at March 31, 2021 and ₹ 2,080 million ($ 28 million) as at March 31, 2022 is expected to be utilised in the fourteenth year, fifteen years being the maximum permissible time period to utilise the MAT credits. Deferred tax assets in the Group have been recognized to the extent there are sufficient taxable temporary differences relating to the same taxation authority and the same taxable entity which are expected to reverse. For certain components of the Group, deferred tax assets on carry forward unused tax losses have been recognised to the extent of deferred tax liabilities on taxable temporary differences available. It is expected that any reversals of the deferred tax liability would be offset against the reversal of the deferred tax asset at respective entities. Unused tax losses/ unused tax credit for which no deferred tax asset has been recognised amount to , ₹ ₹ , As at March 31, 2021 Unused tax losses/ unused tax credit Within ₹ in Greater than ₹ in Greater than ₹ in No expiry ₹ in Total ₹ in Unutilized business losses 1,966 22,220 30,753 18,870 73,809 Unabsorbed depreciation 105 1,014 2,979 23,533 27,631 Unused capital losses — 4 — — 4 Unutilised R&D t c — — — 97 97 Total 2,071 23,238 33,732 42,500 101,541 No deferred tax assets have been recognised on these unused tax losses/ unused tax credit as there is no evidence that sufficient taxable profit will be available in future against which these can be utilised by the respective entities. As at March 31, 2022 Unused tax losses/ unused tax credit Within ₹ in Greater than ₹ in Greater than ₹ in No expiry ₹ in Total ₹ in Total Unutilized business losses 311 32,170 31,163 20,052 83,696 1,103 Unabsorbed depreciation — 0 0 14,398 14,398 190 Unused capital losses — 4 — — 4 0 Unutilised R&D t c — — — 99 99 1 Total 311 32,174 31,163 34,549 98,197 1,294 No deferred tax assets have been recognised on these unused tax losses/ unused tax credit as there is no evidence that sufficient taxable profit will be available in future against which these can be utilised by the respective entities. The Group has not recognised any deferred tax liabilities for taxes that would be payable on the Group’s share in unremitted earnings of certain of its subsidiaries because the Group controls when the liability will be incurred and it is probable that the liability will not be incurred in the foreseeable future. The amount of unremitted earnings is ₹ ₹ , (d) Non-current Non-current ₹ ₹ , , (e) 09-10 12-13, 14-15 15-16, 17-18 re-examination ₹ ( ₹ |
Consolidated statement of profi
Consolidated statement of profit or loss | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Consolidated statements of profit or loss | 10. CONSOLIDATED STATEMENTS OF PROFIT OR LOSS For the year ended March 31, Notes 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Revenue 6 835,446 868,630 1,311,917 17,292 Other operating income** 9,863 13,094 17,981 237 Investment and other income 7 25,714 32,177 19,947 263 Total Income 871,023 913,901 1,349,845 17,792 (Decrease)/increase in inventories of finished goods and work-in-progress (13,690 ) (7,662 ) 20,340 268 Raw materials and other consumables used* (549,936 ) (524,019 ) (801,046 ) (10,559 ) Employee costs (26,920 ) (28,632 ) (28,119 ) (371 ) Other costs*** (46,185 ) (50,941 ) (76,161 ) (1,004 ) Depreciation and amortisation (100,490 ) (81,178 ) (91,148 ) (1,201 ) Impairment reversal/(charge) (148,022 ) — 62,745 827 Exploration Cost written off — — (26,181 ) (345 ) Asset under construction written off — (2,440 ) (701 ) (9 ) Finance and other costs 8 (54,557 ) (52,955 ) (49,427 ) (651 ) (Loss)/profit before tax (68,777 ) 166,074 360,147 4,747 Income tax credit/(expense) 9 26,677 (19,084 ) (103,068 ) (1,359 ) (Loss)/profit for the year (42,100 ) 146,990 257,079 3,388 * includes power and fuel charges, repairs, royalty, cess, mining and other operating expenses. ** includes export incentive and duty drawback amounting to ₹ ₹ ₹ the s , *** includes rent amounting to ₹ ₹ ₹ |
Exchange gain_ (loss) recognise
Exchange gain/ (loss) recognised in the consolidated statements of profit or loss: | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Exchange gain/ (loss) recognised in the consolidated statements of profit or loss: | 11. Exchange gain/ (loss) recognised in the consolidated statements of profit or loss: For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Cost of sales (4,268 ) (1,937 ) 799 11 Administration cost (Forex on MAT credit entitlements) (1,136 ) 166 (339 ) (4 ) Investment and other income/(loss) 2,489 531 (1,013 ) (13 ) Finance and other costs (4,789 ) 180 (1,455 ) (19 ) Total (7,704 ) (1,060 ) (2,008 ) (25 ) |
Earnings_(Loss) per share ("EPS
Earnings/(Loss) per share ("EPS") | 12 Months Ended |
Mar. 31, 2022 | |
Profit or loss [abstract] | |
Earnings/(Loss) per share ("EPS") | 12. Earnings/(Loss) per share (“EPS”) The following reflects the income and share data used in the basic and diluted earnings/(loss) per share computations: Computation of weighted average number of shares For the year ended March 31, 2020 2021 2022 Weighted average number of ordinary shares for basic earnings per share* 3,702,554,614 3,704,196,924 3,706,455,160 Effect of dilution: Potential ordinary shares relating to share option awards 21,220,860 # 23,348,057 25,693,575 Adjusted weighted average number of ordinary shares for diluted earnings per share 3,702,554,614 # 3,727,544,981 3,732,148,735 Computation of basic and diluted earnings per share Basic earnings/(loss) per share: For the year ended March 31, 2020 2021 2022 2022 ( ₹ in million ( ₹ in million ( ₹ in million (US dollars in million except EPS data) (Loss)/Profit for the year attributable to equity holders of the parent (61,248 ) 112,883 207,953 2,740 Weighted average number of ordinary shares for basic earnings per share* 3,702,554,614 3,704,196,924 3,706,455,160 3,706,455,160 (Loss)/Earnings per share(INR / USD) (16.54 ) 30.47 56.11 0.74 Diluted earnings/(loss) per share: For the year ended March 31, 2020 2021 2022 2022 ( ₹ in million ( ₹ in million ( ₹ in million (US dollars in million except EPS data) (Loss)/Profit for the year attributable to equity holders of the parent (61,248 ) 112,883 207,953 2,740 Adjusted weighted average number of ordinary shares for diluted earnings per share* 3,702,554,614 # 3,727,544,981 3,732,148,735 3,732,148,735 (Loss)/Earnings per share # (16.54 ) 30.28 55.72 0.73 * After excluding the impact of treasury shares # Potential dilutive shares have been considered as anti dilutive for year ended March 31, 2020. Nominal value per share is ₹ |
Dividends
Dividends | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Dividends | 13. Dividends Each equity share holder is entitled to dividends as and when Vedanta Limited declares and pays dividends after obtaining shareholder approval for final dividend and board approval in case of an interim dividend. Dividends are paid in Indian Rupees. Remittance of dividends outside India is governed by Indian law on foreign exchange and is subject to applicable taxes. Distributions made and proposed For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Amounts recognised as distributions to equity share holders: Equity dividend on ordinary shares: Interim dividend for the year: (March 31, 2020: ₹ ₹ ₹ ₹ ₹ a,b,c 14,441 35,187 166,814 2,199 Total 14,441 35,187 166,814 2,199 a) Three interim dividends of ₹ ₹ ₹ b) An interim dividend of ₹ /- per share was c) An interim dividend of ₹ /- per share ₹ /- Subsequent to the balance sheet date, the Board of Directors of the Company in their meeting held on 28 , ₹ /- ₹ ₹ which has been paid subsequently. Further the Board of Directors of the Company in their meeting held on July 19, 2022 have approved second interim dividend of ₹ ₹ FY 2022-23. If profits for a year are insufficient to declare dividends, dividends for that year may be declared and paid out from accumulated profits on the following conditions: • The rate of dividend declared shall not exceed the average of the rates at which dividend was declared by the company in the three years immediately preceding that year; • The total amount to be drawn from such accumulated profits shall not exceed one-tenth paid-up • The amount so drawn shall first be utilised to set off the losses incurred in the financial year in which dividend is declared before any dividend in respect of equity shares is declared; and • The balance of reserves after such withdrawal shall not fall below fifteen per cent of the company’s paid up share capital as appearing in the latest audited financial statement. |
Property, plant and equipment a
Property, plant and equipment and Exploration and evaluation assets | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Property, plant and equipment and Exploration and evaluation assets | 14. Property, plant and equipment and Exploration and evaluation assets Mining Land and Plant and Oil and gas Others ROU (A) Assets under Total Exploration Total Total ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in US dollars Gross Block As at April 1, 2020 233,353 139,044 864,247 1,449,286 15,733 14,150 133,011 2,848,824 136,066 2,984,890 Additions 13,011 1,601 15,121 8,813 1,318 1,082 17,248 58,194 7,003 65,197 Transfers/ Reclassification* 4,569 (1,485 ) 27,130 (81 ) (137 ) 2,529 (32,634 ) (109 ) 81 (28 ) Disposals/ Adjustments (47 ) (327 ) (5,438 ) (69 ) (391 ) (25 ) (2,919 ) (9,216 ) — (9,216 ) Acquisition through business combination (Refer Note 4(a)) 2,202 1,321 — — — — 20 3,543 — 3,543 Exploration cost s — — — — — — — — (70 ) (70 ) Foreign exchange 7,316 1,151 6,932 (29,417 ) 341 (160 ) 722 (13,115 ) (2,611 ) (15,726 ) As at March 31, 2021 260,404 141,305 907,992 1,428,532 16,864 17,576 115,448 2,888,121 140,469 3,028,590 39,918 Additions 11,765 2,046 12,754 8,373 1,263 1,155 73,309 110,665 9,641 120,306 1,586 Transfers/ Reclassification* 20,574 876 29,524 6,915 116 (6,963 ) (49,596 ) 1,446 (1,559 ) (113 ) (1 ) Disposals/ Adjustments (330 ) (933 ) (12,191 ) (116 ) (210 ) (433 ) (2,906 ) (17,119 ) — (17,119 ) (227 ) Exploration costs written off B — — — — — — — — (26,181 ) (26,181 ) (345 ) Foreign exchange 2,663 80 1,862 44,863 76 63 195 49,802 3,807 53,609 707 As at March 31, 2022 295,076 143,374 939,941 1,488,567 18,109 11,398 136,450 3,032,915 126,177 3,159,092 41,638 Accumulated depreciation, depletion, amortisation and impairment As at April 1, 2020 166,478 34,869 291,880 1,356,795 8,949 1,056 21,926 1,881,953 118,144 2,000,097 Charge for the year 16,745 5,197 35,627 20,516 1,734 1,413 — 81,232 — 81,232 Disposals/Adjustments — (236 ) (4,144 ) (69 ) (305 ) — — (4,754 ) — (4,754 ) Transfers/Reclassification* 3 — 352 — (71 ) (2 ) (285 ) (3 ) — (3 ) Asset under construction written off c — — — — — — 2,440 2,440 — 2,440 Foreign exchange 3,376 755 4,377 (27,675 ) 254 (15 ) — (18,928 ) (2,217 ) (21,145 ) As at March 31, 2021 186,602 40,585 328,092 1,349,567 10,561 2,452 24,081 1,941,940 115,927 2,057,867 27,124 Charge for the year 21,104 4,529 39,942 22,887 1,650 612 — 90,724 — 90,724 1,195 Disposals/Adjustments — (294 ) (8,610 ) (116 ) (149 ) (430 ) — (9,599 ) — (9,599 ) (127 ) Transfers/Reclassification* (2 ) 4 559 892 (2 ) (892 ) (570 ) (11 ) — (11 ) (0 ) Impairment Charge/ (reversal) B — — — (53,143 ) — — — (53,143 ) (9,602 ) (62,745 ) (827 ) Assets under construction/capital advances written off B — — — — — — 1,951 1,951 — 1,951 26 Foreign exchange 1,195 54 1,434 41,720 101 (2 ) — 44,502 3,210 47,712 629 As at March 31, 2022 208,899 44,878 361,417 1,361,807 12,161 1,740 25,462 2,016,364 109,535 2,125,899 28,020 Net book value / Carrying amount As at April 1, 2020 66,875 104,175 572,367 92,491 6,784 13,094 111,085 966,871 17,922 984,793 As at March 31, 2021 73,802 100,720 579,900 78,965 6,303 15,124 91,367 946,181 24,542 970,723 As at March 31, 2022 86,177 98,496 578,524 126,760 5,948 9,658 110,988 1,016,551 16,642 1,033,193 13,618 * Transfers/reclassification majorly includes capitalisation of CWIP to respective class of assets. A) Disclosure of Right of Use (ROU) Assets as per IFRS 16 “Leases” Land & Building Plant and Total Total ₹ in million ₹ in million ₹ in million US dollars in million Gross Block As at April 1, 2020 6,811 7,339 14,150 Additions 922 160 1,082 Transfers/Reclassification 2,533 (4 ) 2,529 Deductions (16 ) (9 ) (25 ) Foreign exchange (47 ) (113 ) (160 ) As at March 31, 2021 10,203 7,373 17,576 232 Additions 968 187 1,155 15 Transfers/Reclassification ** (48 ) (6,915 ) (6,963 ) (92 ) Deductions (432 ) (1 ) (433 ) (6 ) Foreign exchange (56 ) 119 63 1 As at March 31, 2022 10,635 763 11,398 150 Accumulated depreciation and impairment As at April 1, 2020 833 223 1,056 Charge for the year 622 791 1,413 Transfers/Reclassification — (2 ) (2 ) Disposals/Adjustments — — — Foreign exchange (12 ) (3 ) (15 ) As at March 31, 2021 1,443 1,009 2,452 32 Charge for the year 523 89 612 8 Transfers/Reclassification ** — (892 ) (892 ) (12 ) Disposals/Adjustments (430 ) — (430 ) (6 ) Foreign exchange (21 ) 19 (2 ) 0 As at March 31, 2022 1,515 225 1,740 22 Net book value / Carrying amount As at April 1, 2020 5,978 7,116 13,094 As at March 31, 2021 8,760 6,364 15,124 As at March 31, 2022 9,120 538 9,658 128 ** During the current year, Company has bought back its ROU RDG Gas Bridge assets in Oil & Gas business which are consequently reclassified to Oil & Gas properties as per the contractual terms. B) 1) During the year ended March 31, 2022, the Group has recognized an impairment reversal of ₹ i) Impairment reversal of ₹ block “RJ CGU” mainly ₹ ( ₹ reversal has been recorded against exploration and evaluation assets. The recoverable amount of the Group’s share in Rajasthan Oil and Gas cash generating unit “RJ CGU” was determined ₹ ) The recoverable amount of the RJ CGU was determined based on the fair value less costs of disposal approach, a level-3 Group’s value-in-use post-tax post-tax Group, ₹ ₹ , ii) Impairment reversal of ₹ KG-ONN-2003/1 increase Group’s ₹ post-tax consolidated financial statements. 2) During the year, the Group has continued with exploration and appraisal work program in its PSC block RJON-90/1 ₹ statements of profit and loss 3) During the year ended March 31, 2021, ESL Steel Limited conducted a detailed physical verification and evaluation of project equipment and material being carried forward as capital work-in-progress ₹ ₹ during work-in-progress, ₹ 4) In relation to a mine in Aluminium business , Group ₹ MoEFCC Group Group 5) During the year ended March 31, 2022, the Group ₹ work-in-progress 6) During the year ended March 31, 2022, ₹ C During the year ended March 31, 2020 and March 31, 2021 the Group had recognized impairment charge of ₹ assets under construction written off ₹ , Ø During the year ended March 31, 2021, the Group ₹ Ø For the year ended March 31, 2020:- 1) Impairment charge of ₹ ₹ ₹ For oil & gas assets, CGU’s identified are on the basis of a production sharing contract (PSC) level, as it is the smallest group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or group of assets. The recoverable amount of the RJ CGU, ₹ level-3 value-in-use post-tax post-tax ₹ ₹ 2) Impairment charge of ₹ million relating to KG-ONN-2003/1 CGU mainly due to the reduction in crude oil price forecast and increase in recoverable reserves. The recoverable amount of the ₹ level-3 post-tax post-tax 3) Impairment charge of ₹ KG-OSN-2009/3, D During the year ended March 31, 2020, the Group has recognized impairment charge of ₹ The net recoverable value of assets and liabilities was assessed at ₹ ₹ ₹ E Refer N F Footnotes: 1. Plant and equipment include refineries, smelters, power plants, aircrafts, ships, river fleets, railway sidings and related facilities. 2. Others includes furniture and fixtures, office equipments and vehicles. 3. During the year ended March 31, 2020, 2021 and 2022, interest capitalized was ₹ ₹ ₹ , 4. Certain property, plant and equipment are pledged as collateral against borrowings, the details related to which have been described in Note 22 on “Borrowings”. 5. Freehold land under Land and buildings the 6. The 206.18 acres land transferred to BALCO by National Thermal Power Corporation Ltd. (NTPC) in June 20 0 2 non-availability sub-judice 7. The Division Bench of the Hon’ble High Court of Chhattisgarh has vide its order dated February 25, 2010, upheld that BALCO is in legal possession of 1,804.67 acres of Government land. Subsequent to the said order, the State Government has decided to issue the lease deed in favour of BALCO after the issue of forest land is decided by the Hon’ble Supreme Court. In the proceedings before the Hon’ble Supreme Court, pursuant to public interest litigations filed, it has been alleged that the land in possession of BALCO is being used in contravention of the Forest Conservation Act, 1980 even though the said land has been in its possession prior to the promulgation of the Forest Conservation Act, 1980 on which its Aluminium complex, allied facilities and township were constructed between 1971-76. The Central Empowered Committee of the Supreme Court has already recommended ex-post facto diversion of the forest land in possession of BALCO. BALCO has also filed two IAs (Interlocutory Application) before the Supreme Court, first challenging the order of the Tehsildar Korba whereby he rejected BALCO’S applications for eviction of illegal encroachers on BALCO’S land on the ground that land matter is subjudice before the Supreme Court and the second application whereby BALCO has challenged the state government’s action for allotment of land to illegal encroachers under the Rajiv Ashray Yojna. The matter is to be listed for hearing in due course. 8. Freehold land under Land and Buildings includes gross block as at March 31, 2021 ₹ ₹ ₹ ₹ respectively 9. Property, plant and equipment and exploration and evaluation assets net block includes share of jointly owned assets with the joint venture partners of ₹ ₹ , 10. Oil and Gas Properties includes development assets under construction of carrying value of ₹ ₹ 11. TSPL’s assets consisting of land (including ROU land), building and plant and equipment ₹ ₹ ₹ ₹ ₹ ₹ , , N 12. Reconciliation of depreciation, depletion and amorti s Year ended March 31, 2020 2021 2022 2022 ₹ in ₹ in ₹ in US dollars Depreciation, depletion and amorti s Property, plant and equipment 100,255 81,232 90,724 1,196 Intangible assets 821 682 703 9 As per property, plant and equipment and intangibles schedule 101,076 81,914 91,427 1,205 Less: Depreciation capitalized — (498 ) (39 ) (1 ) Less: Cost allocated to joint ventures (586 ) (238 ) (240 ) (3 ) Charged to consolidated statement of profit or loss 100,490 81,178 91,148 1,201 |
Intangible assets
Intangible assets | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Intangible assets | 15. Intangible assets Port 1 Software Others Total Total ₹ in million ₹ in million ₹ in million ₹ in million US dollars Gross Block As at April 1, 2020 6,013 3,579 3,617 13,209 Additions 15 78 322 415 Transfers from Property, Plant and Equipment — 28 — 28 Disposals/Adjustments — (64 ) — (64 ) Foreign exchange difference — (28 ) (107 ) (135 ) As at March 31, 2021 6,028 3,593 3,832 13,453 178 Additions 6 157 — 163 2 Transfers from Property, Plant and Equipment 1 112 — 113 1 Disposals/Adjustments — (2 ) — (2 ) 0 Foreign exchange difference — 70 (149 ) (79 ) (1 ) As at March 31, 2022 6,035 3,930 3,683 13,648 180 Accumulated depreciation, depletion, amortization and impairment As at April 1, 2020 1,578 3,096 745 5,419 Charge for the year 230 147 305 682 Transfers from Property, Plant and Equipment — 3 — 3 Disposals/Adjustments — (64 ) — (64 ) Foreign exchange difference — (31 ) (37 ) (68 ) As at March 31, 2021 1,808 3,151 1,013 5,972 79 Charge for the year 230 175 298 703 9 Transfers from Property, Plant and Equipment — 11 — 11 0 Disposals/Adjustments — (2 ) — (2 ) 0 Foreign exchange difference — 62 (64 ) (2 ) 0 As at March 31, 2022 2,038 3,397 1,247 6,682 88 Net book value / Carrying amount As at April 1, 2020 4,435 483 2,872 7,790 As at March 31, 2021 4,220 442 2,819 7,481 As at March 31, 2022 3,997 533 2,436 6,966 92 (1) Vizag General Cargo Berth Private Limited (VGCB), a special The project was to be carried out on a design, build, finance, operate, transfer basis and the concession agreement between Visakhapatnam Port Trust (‘VPT’) and VGCB was signed in June 2010. In October 2010, VGCB was awarded with the concession after fulfilling conditions stipulated as a precedent to the concession agreement. VPT has provided, in lieu of license fee, an exclusive license to VGCB for designing, engineering, financing, constructing, equipping, operating, maintaining, and replacing the project/project facilities and services. The concession period for years from the date of the award. The upgraded capacity is mmtpa and the VPT would be entitled to receive share of the gross revenue as royalty. VGCB is entitled to recover a tariff from the user(s) of the project facilities and services as per its Tariff Authority for Major Ports (TAMP) notification. The tariff rates are linked to the Wholesale Price Index (WPI) and would accordingly be adjusted as specified in the concession agreement every year. The ownership of all infrastructure assets, buildings, structures, berths, wharfs, equipment and other immovable and movable assets constructed, installed, located, created or provided by VGCB at the project site and/or in the port’s assets pursuant to concession agreement would be with VGCB until expiry of this concession agreement. The cost of any repair, replacement or restoration of the project facilities and services shall be borne by VGCB during the concession period. VGCB has to transfer all its rights, titles and interest in the project facilities and services free of cost to VPT at the end of the concession period. Intangible asset of port concession rights represents consideration for construction services. No revenue from construction contract of service concession arrangements on exchanging construction services for the port concession rights was recognized for the year s |
Financial asset investments
Financial asset investments | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Financial asset investments | 16. Financial asset investments Financial asset investments represent investments classified and accounted for at fair value through profit or loss or through other comprehensive income (Refer Note 25) Movements for the year ended March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars As at April 1, 911 1,532 20 Changes in fair value 621 (47 ) (1 ) Exchange difference — (13 ) (0 ) As at March 31, 1,532 1,472 19 Financial asset investment represents quoted investments in equity shares and other investments that present the Group with an opportunity for returns through dividend income and gains in value. These securities are held at fair value. These are classified as non-current |
Trade and other receivables and
Trade and other receivables and Other non-current assets | 12 Months Ended |
Mar. 31, 2022 | |
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Trade and other receivables and Other non-current assets | 17. Trade and other receivables and Other non-current As at March 31, 2021 2021 2021 2022 2022 2022 2022 2022 2022 ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars (US dollars (US dollars Financial Bank Deposits 1 1,153 — 1,153 2,066 — 2,066 27 — 27 Site restoration assets 2 8,220 — 8,220 10,232 — 10,232 135 — 135 Trade receivables 3,7 31,582 34,459 66,041 32,187 49,375 81,562 424 651 1,075 Others 5 15,998 2,395 18,393 16,291 4,152 20,443 215 54 269 Loans to related parties (Refer Note 35) 50,562 20,150 70,712 31,644 22,980 54,624 417 303 720 Receivables from related parties — 1,476 1,476 — 1,510 1,510 — 20 20 Advance recoverable — 39,083 39,083 — 81,754 81,754 — 1,078 1,078 Total—Financial (A) 107,515 97,563 205,078 92,420 159,771 252,191 1,218 2,106 3,324 Non Financial Balance with Government Authorities 6,098 7,294 13,392 7,607 10,841 18,448 100 143 243 Advance for supplies — 12,345 12,345 — 27,062 27,062 — 357 357 Advance to related party 944 2,271 3,215 610 840 1,450 — 19 19 Others 4,6 13,170 11,256 24,426 9,173 13,990 23,163 129 176 305 Total—Non Financial (B) 20,212 33,166 53,378 17,390 52,733 70,123 229 695 924 Total (A+B)* 127,727 130,729 258,456 109,810 212,504 322,314 1,447 2,801 4,248 * Net of allowances of ₹ ₹ 1. Includes ₹ ₹ ₹ ₹ ₹ ₹ ₹ million a ₹ ₹ ₹ mi llion held as margin money against bank guarantee as at March 31, 2021 and March 31, 2022 , . 2. Includes deposit in Site Restoration Fund of ₹ ₹ , 3. In a matter between TSPL and Punjab State Power Corporation Limited (PSPCL) relating to assessment of whether there has been a change in law following the execution of the Power Purchase Agreement, the Appellate Tribunal (APTEL) for Electricity has dismissed the appeal in July 2017 filed by TSPL. TSPL later filed an appeal before the Honorable Supreme Court to seek relief, which is yet to be listed. The outstanding trade receivables in relation to this dispute and other matters is ₹ ₹ , Additionally, trade receivables include ₹ ₹ March 31, 2021 and March 31, 2022, respectively, withheld by GRIDCO (‘GRIDCO’ or ‘the customer’) on account of certain disputes relating to computation of power tariffs pending adjudication by APTEL. Additionally, GRIDCO had raised ₹ on the Company in respect of short supply of power, against which a provision of ₹ million) had been made in previous years. Various minutes of meetings were signed with the customer for computing the short supply claims, which were subject to approval of Odisha State Electricity Regulatory Commission (OERC). Hearing on the subject matter (PPA Amendment Case) was completed in October 2019 and OERC had pronounced the order on June 22, 2020. Further, in August 2020, the Company filed an appeal before APTEL against the said OERC order which was finally admitted on March 22, 2022 for hearing to be scheduled in the future. GRIDCO has also sought review of the said OERC order. The matter has been posted for order by OERC in due course. In the meanwhile, power supply to GRIDCO has resumed and GRIDCO has been making regular payments against monthly energy invoices. 4. Includes claim receivables, advance recoverable (oil and gas business), prepaid expenses, export incentive receivables and receivables from KCM. 5. Includes claims receivables, advance recoverable (oil and gas business) and others. It also includes advance profit petroleum of ₹ ₹ , 6. Includes receivable from KCM (net of provision) ₹ ₹ A provisional liquidator (‘PL’) was appointed to manage the affairs of Konkola Copper Mines plc (KCM) on May 21, 2019, after ZCCM Investments Holdings Plc (ZCCM-IH), an entity majority owned by the Government of Zambia and a 20.6% shareholder in KCM, filed a winding up petition against KCM. KCM’s majority shareholder, Vedanta Resources Holdings Limited (VRHL), and its parent company, VRL, are contesting the winding up petition in the Zambian courts and have also commenced arbitration against ZCCM-IH, consistent with their position that arbitration is the agreed dispute resolution process, together with an application to the South African courts to stay the winding up proceedings consistent with the agreement to arbitrate. Meanwhile , KCM has not been supplying goods to the Company and/ or its subsidiaries, which it was supposed to as per the terms of the advance. The Group has recognised provision for expected credit loss ₹ million and ₹ million ($ million) during the years ended March 31, 2021 and March 31, 2022, respectively. The Group carries provision ₹ million and ₹ million ($ million) as at March 31, 2021 and March 31, 2022, respectively. 7. The total trade receivables as at April 1, 2020 were ₹ |
Inventories
Inventories | 12 Months Ended |
Mar. 31, 2022 | |
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Inventories | 18. Inventories Inventories consist of the following: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Raw materials and consumables 60,555 84,449 1,113 Work-in-progress 30,202 50,469 665 Finished goods 8,752 8,335 110 99,509 143,253 1,888 Inventory held at net realizable value amounted to ₹ ₹ ₹ ₹ million) for the year s |
Short-term investments
Short-term investments | 12 Months Ended |
Mar. 31, 2022 | |
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Short-term investments | 19. Short-term investments Short-term investments consist of the following: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Bank deposits 1 116,730 64,534 851 Other investments 165,045 171,398 2,259 281,775 235,932 3,110 Bank deposits are made for periods of between three months and one year depending on the cash requirements of the companies within the Group and earn interest at the respective fixed deposit rates. Other investments include mutual fund investments and investments in bonds which are recorded at fair value with changes in fair value reported through the consolidated statements of profit or loss. These investments do not qualify for recognition as cash and cash equivalents due to their maturity period and risk of change in value of the investments. Refer Note 25 for further details. 1. Includes ₹ ₹ ₹ ₹ ₹ ₹ ₹ ₹ margin money, ₹ Nil and ₹ 807 million ($ 11 million) held as reserve created against principal portion on loan from banks, ₹ 4,603 million and ₹ ₹ ₹ million) held as margin money against bank guarantee as at March 31, 2021 and March 31, 2022, respectively. |
Restricted cash and cash equiva
Restricted cash and cash equivalents | 12 Months Ended |
Mar. 31, 2022 | |
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Restricted cash and cash equivalents | 20. Restricted cash and cash equivalents Restricted cash and cash equivalents consist of the following: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Cash at banks 1 1,025 4,674 62 1,025 4,674 6 2 1. Cash at banks is restricted in use as it relates to unclaimed dividends of ₹ ₹ , ₹ ₹ , |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Mar. 31, 2022 | |
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Cash and cash equivalents | 21. Cash and cash equivalents Cash and cash equivalents consist of the following: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Cash at banks and in hand 26,604 54,084 713 Short-term deposits* 21,933 32,625 430 48,537 86,709 1,143 * Short-term deposits are made for periods of between one day and three months, depending on the immediate cash requirements of the respective companies, and earn interest at the respective short-term deposit rates. |
Borrowings
Borrowings | 12 Months Ended |
Mar. 31, 2022 | |
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Borrowings | 22. Borrowings Current borrowings consist of: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Banks and financial institutions 36,086 74,215 978 Current maturities of long-term borrowings 153,514 94,729 1,249 Current borrowings (A) 189,600 168,944 2,227 Non-current As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Banks and financial institutions 359,164 371,525 4,897 Non-convertible 165,923 79,368 1,046 Redeemable preference shares 19 19 0 Non-convertible 1,565 314 4 Others 6,465 5,526 74 Non-current 533,136 456,752 6,021 Less: Current maturities of long-term borrowings (153,514 ) (94,729 ) (1,249 ) Non-current 379,622 362,023 4,772 In the event VRL (together with its subsidiaries) ceases to be the Company’s majority shareholder, the Group will be required to immediately repay some of its outstanding long-term debt. The Group’s facilities are subject to certain financial and non- financial covenants. The primary covenants which must be complied with include interest service coverage ratio, current ratio, debt service coverage ratio, total outside liabilities to total net worth, fixed assets coverage ratio, ratio of total term liabilities to net worth and debt/EBITDA, all as defined in the respective loan agreements. The Group has complied with the covenants as per the terms of the loan agreements. Details of Non-convertible As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars 9.20% due February-2030 20,000 20,000 264 7.68% due December-2024 — 9,972 131 9.20% due December-2022 7,487 7,494 99 5.35% due September 2022 - ₹ ₹ 35,163 28,140 371 0.00% due September 2022 - ₹ ₹ 1,666 1,064 14 8.75% due June-2022 12,690 12,698 167 7.50% due March-2022 4,927 — — 8.90% due December-2021 8,991 — — 8.75% due September-2021 2,500 — — 8.50% due April-2021 23,500 — — 9.18% due July-2021 10,000 — — 9.27% due July-2021 9,999 — — 8.50% due June-2021 16,500 — — 8.75% due April-2021 2,500 — — 8.55% due April-2021 10,000 — — Total 165,923 79,368 1,046 Security Details The Group has taken borrowings in various countries towards funding of its acquisitions, capital expenditure and working capital requirements. The borrowings comprise funding arrangements from various banks and financial institutions taken by the parent and its As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Secured borrowings 487,027 427,902 5,640 Unsecured borrowings 82,195 103,065 1,359 Total borrowings 569,222 530,967 6,999 The details of security provided by the Group in various countries, to various banks on the assets of the parent and its subsidiaries are as follows: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Working capital loans (grouped under banks and financial institutions) Secured by first pari passu charge on current assets of Vedanta Limited 6,500 — — Secured by second pari passu charge on fixed assets of TSPL and first pari passu charge on current assets of, both present and future 490 5,150 68 Secured by hypothecation of stock of raw materials, work-in-progress, — 500 7 External commercial borrowings (grouped under banks and financial institutions) The facility is secured by first pari passu charge on all movable property, plant and equipments related to power plants and aluminium smelters of BALCO located at Korba both present and future along with secured lenders 2,188 756 10 First Pari-passu charge by way of hypothecation on the specified movable fixed assets of the Company pertaining to its manufacturing facilities comprising (i) Alumina Refinery having output of 6 MTPA along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Odisha; (ii) Aluminium Smelter having output of 1.6 MTPA along with a 1215 (9*135) MW CPP at Jharsuguda, Odisha. — 11,195 148 The facility is secured by first pari passu charge on all movable property, plant and equipments related to power plant and aluminium smelter located at Korba both present and future along with secured lenders at BALCO 1,686 377 5 As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Non-convertible Secured by the whole of the movable fixed assets of (i) Alumina Refinery having output of 1 MTPA along with co-generation 54,095 20,000 264 Secured by way of charge against all existing assets of FACOR 1,670 1,063 14 Secured by way of first pari passu charge on whole of the movable fixed assets of (i) Alumina Refinery having output of 1 MTPA along with co-generation — 20,192 266 Secured by way of first pari-passu charge on the specific movable fixed assets. The whole of the movable fixed assets both present and future, of the Borrower in relation to the Aluminium division, comprising the following facilities: (i) 1 MTPA alumina refinery alongwith 90 MW co-generation (ii) 1.6 MTPA aluminium smelter plant along with 1215 MW (9*135 MW) power plant in Jharsuguda, Odisha. including its movable plant and machinery, capital work in progress, machinery spares, tools and accessories, and other movable fixed assets — 9,972 131 Other secured non-convertible 75,000 — — Term Loans (grouped under banks and financial institutions) Secured by first pari passu charge on fixed assets of TSPL and second pari passu charge on current assets of TSPL, both present and future 51,400 64,981 856 First pari passu charge by way of hypothecation/ equitable mortgage on the movable/ immovable assets of the Aluminium Division of Vedanta Limited comprising alumina refinery having output of 1 MTPA along with co-generation 18,834 6,248 82 Secured by a pari passu charge by way of hypothecation of all the movable fixed assets of Vedanta Limited pertaining to its Aluminium Division project consisting of (i) Alumina Refinery having output of 1 MTPA (Refinery) along with co-generation 21,935 17,764 234 As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Secured by a pari passu charge by way of hypothecation on the movable fixed assets of the Lanjigarh Refinery Expansion Project including 210 MW Power Project. Lanjigarh Refinery Expansion Project shall specifically exclude the 1 MTPA Alumina Refinery of Vedanta Limited along with 90 MW power plant in Lanjigarh and all its related expansions 4,357 4,018 52 Secured by a pari passu charge by way of hypothecation on the movable fixed assets of Vedanta Limited pertaining to its Aluminium division comprising 1 MTPA Alumina Refinery plant with 90 MW captive power plant at Lanjigarh, Odisha and 1.6 MTPA Aluminium Smelter plant with 1215 MW captive power plant at Jharsuguda, Odisha 12,270 40,193 530 First pari passu charge by way of hypothecation/ equitable mortgage on the movable/ immovable assets of the Aluminium division of Vedanta Limited comprising Alumina Refinery having output of 1 MTPA along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Orissa; Aluminium Smelter having output of 1.6 MTPA along with a 1215 (9x135) MW CPP at Jharsuguda, Orissa and additional charge on Lanjigarh Expansion project, both present and future 10,922 9,985 132 Secured by a pari passu charge by way of hypothecation/ equitable mortgage of the movable/ immovable fixed assets of Vedanta Limited pertaining to its Aluminium division comprising 1 MTPA Alumina Refinery plant with 90 MW captive power plant at Lanjigarh, Odisha and 1.6 MTPA Aluminium Smelter plant with 1215 MW captive power plant at Jharsuguda, Odisha 28,015 69,184 912 Secured by (i) floating charge on borrower collection account and associated permitted investments and (ii) corporate guarantee from Cairn Energy Hydrocarbons Ltd (“ CEHL”) and floating charge on collection account and current assets of CEHL 28,100 16,022 211 Pledge of 49% of shares and other securities and rights to any claims held by THL Zinc Limited in and against BMM 2,198 453 6 The facility is secured by first pari passu charge on all movable property, plant and equipments related to power plants and Aluminium Smelters of BALCO located at Korba both present and future along with secured lenders 1,471 756 10 Secured by first pari passu charge on all present and future movable fixed assets including but not limited to plant and machinery, spares, tools and accessories of BALCO (excluding of coal block assets) by way of a deed of hypothecation 24,996 8,898 117 As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars First ranking pari passu charge by way of hypothecation/mortgage on all fixed/ immovable assets of ESL Steel Limited but excluding any current assets or pledge over any shares. 31,341 27,048 357 Secured by first pari passu charge by way of hypothecation of whole of the movable fixed assets of (i) Alumina Refinery having output of 1.7 to 6 MTPA along with co-generation captive power plant with an aggregate capacity of 90MW at Lanjigarh, Odisha and (ii) Aluminium Smelter having output of 1.6 MTPA along with a 1,215 (9*135) MW CPP at Jharsuguda, Odisha 11,478 6,200 82 First pari-passu charge on the movable fixed and current assets (except for the Concession assets) of VGCB at Visakhapatnam, Andhra Pradesh — 3,750 49 Secured by a first pari passu charge on the identified fixed assets of the Vedanta Limited both present and future, pertaining to its Aluminium business (Jharsuguda Plant, Lanjigarh Plant), 2400 MW power plant assets at Jharsuguda, Copper Plant assets at Silvasa, Iron ore business in the states of Karnataka and Goa, dividends receivable from HZL, a subsidiary of the Vedanta Limited, and the debt service reserve account to be opened for the Facility along with the amount lying to the credit thereof # 85,380 78,212 1,031 Other secured term loans 6,860 — — Others Secured by Fixed asset (platinum) of AvanStrate 5,361 4,985 66 Other secured borrowings 480 — — Total 487,027 427,902 5,640 # During the current year, the Company executed ₹ ₹ ₹ ₹ ₹ Movement in borrowings during the year is provided below: Short term Long term Total Total ( ₹ in ( ₹ in ( ₹ in (US dollars As at April 1, 2020 112,710 466,765 579,475 Cash flow (82,309 ) 71,300 (11,009 ) Other non-cash 5,768 (4,444 ) 1,324 Debt on acquisition through business combination 80 — 80 Foreign currency translation differences (163 ) (485 ) (648 ) As at March 31, 2021 36,086 533,136 569,222 7,503 Cash flow 38,869 (78,421 ) (39,552 ) (521 ) Other non-cash (787 ) 1,373 586 8 Foreign currency translation differences 47 664 711 9 As at March 31, 2022 74,215 456,752 530,967 6,999 * including current maturities of long-term borrowings ** Other non-cash |
Acceptances
Acceptances | 12 Months Ended |
Mar. 31, 2022 | |
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Acceptances | 23. Acceptances Acceptances consist of: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Payable under trade financing arrangements 83,711 110,936 1,462 83,711 110,936 1,462 Acceptances are interest-bearing liabilities and are normally settled within a period of twelve months. These represent arrangements whereby operational suppliers are paid by financial institutions, with the Group recognising the liability for settlement with the institutions at a later date. These acceptances carry an interest ranging from 0.28% - 3.16% p.a. for facilities availed in foreign currency from offshore branches of Indian banks or foreign banks and 4.00% - 8.00% p.a. for facilities availed in rupee from domestic banks. Acceptances availed in foreign currency a re |
Trade and other payables and Ot
Trade and other payables and Other non-current liabilities | 12 Months Ended |
Mar. 31, 2022 | |
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Trade and other payables and Other non-current liabilities | 24. Trade and other payables and Other non-current As at March 31, 2021 Non-Current 2021 2021 2022 Non-current 2022 2022 2022 Non-Current 2022 2022 ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars (US dollars (US dollars Financial Unclaimed/unpaid dividend — 1,014 1,014 — 1,229 1,229 — 16 16 Trade payables — 75,047 75,047 — 104,521 104,521 — 1,378 1,378 Amount due to related party — 4,130 4,130 — 1,655 1,655 — 22 22 Liabilities for capital expenditure 9,365 70,088 79,453 9,621 109,981 119,602 127 1,450 1,577 Profit petroleum payable — 14,677 14,677 — 21,798 21,798 — 287 287 Security deposit and retentions 2 2,223 2,225 2 2,374 2,376 0 31 31 Other liabilities 847 38,808 39,655 1,196 36,103 37,299 16 476 492 Put option liability with non-controlling 1 2,633 — 2,633 2,397 — 2,397 32 — 32 Lease liability 3 1,603 4,808 6,411 1,504 3,236 4,740 20 43 63 Total – Financial 14,450 210,795 225,245 14,720 280,897 295,617 195 3,703 3,898 Non Financial Statutory l — 31,461 31,461 — 31,573 31,573 — 416 416 Amount payable to owned post employment benefit trust — 321 321 — 334 334 — 4 4 Advances from customers 2 — 62,330 62,330 4,026 41,296 45,322 53 544 597 Advance from related party — — — — 20 20 — 0 0 Other payables — 1,840 1,840 — 2,049 2,049 — 28 28 Total – Non Financial — 95,952 95,952 4,026 75,272 79,298 53 992 1,045 14,450 306,747 321,197 18,746 356,169 374,915 248 4,695 4,943 Trade payables are majorly non-interest The fair value of trade and other payables is not materially different from the carrying value presented. 1 The non-controlling sell ₹ 52 ) an 2 Advance from customers are contract liabilities to be settled through delivery of goods. The amount of such balances was ₹ ₹ ₹ , ₹ ₹ ₹ z ₹ ₹ ₹ s , 3. Movement in lease liabilities is as follows: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars As at April 1 6,599 6,411 84 Additions during the year 3,611 1,155 15 Interest on lease liabilities 278 136 2 Payments made (3,380 ) (2,318 ) (31 ) Disposal/adjustments (697 ) (644 ) (7 ) As at March 31 6,411 4,740 63 |
Financial instruments
Financial instruments | 12 Months Ended |
Mar. 31, 2022 | |
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Financial instruments | 25. Financial instruments A. Financial assets and liabilities: The following tables present the carrying value and fair value of each category of financial assets and liabilities as at March 31, 2021 and March 31, 2022. As at March 31, 2021: ( ₹ in million) Financial assets Fair value Fair value Derivatives Amortised Total Total fair Financial assets investments —at fair value 500 1,032 — — 1,532 1,532 Other non—current assets — — — 107,515 107,515 112,534 Trade and other receivable 1,633 * — — 95,930 97,563 97,711 Short term investments —Bank deposits — — — 116,730 116,730 116,730 —Other investments 165,044 — — — 165,044 165,044 Financial instruments (derivatives) 129 — 572 — 701 701 Cash and cash equivalents — — — 48,537 48,537 48,537 Restricted cash and cash equivalents — — — 1,025 1,025 1,025 Total 167,306 1,032 572 369,737 538,647 543,814 * Under IFRS 9, provisionally priced receivables are fair valued at each reporting date. As at March 31, 2021: ( ₹ in million) Financial liabilities Fair value Derivatives Amortised Others* Total Total fair Borrowings — — 569,222 — 569,222 565,941 Acceptances — — 83,711 — 83,711 83,711 Trade and other payables*** 7,066 ** — 215,546 2,633 225,245 225,245 Financial instruments (derivatives) 933 2,618 — — 3,551 3,551 Total 7,999 2,618 868,479 2,633 881,729 878,448 * Includes put option liability accounted for at fair value (Refer Note 24) ** Under IFRS 9, provisionally priced payables are fair valued at each reporting date. *** Includes lease liability of ₹ 6,411 million. As at March 31, 2022: ( ₹ in million) (US dollars in million) Financial assets Fair value Fair value Derivatives Amortised Total Total fair Total Total fair Financial assets investments —at fair value 295 1,177 — — 1,472 1,472 19 19 Other non-current assets — — — 92,420 92,420 94,084 1,218 1,240 Trade and other receivables 5,206 * — — 154,565 159,771 160,771 2,106 2,119 Short term investments —Bank deposits — — — 64,534 64,534 64,534 851 851 —Other investments 171,398 — — — 171,398 171,398 2,259 2,259 Financial instruments (derivatives) 101 — 2,479 — 2,580 2,580 34 34 Cash and cash equivalents — — — 86,709 86,709 86,709 1,143 1,143 Restricted cash and cash equivalents — — — 4,674 4,674 4,674 62 62 Total 177,000 1,177 2,479 402,902 583,558 586,222 7,692 7,727 * Under IFRS 9, provisionally priced receivables are fair valued at each reporting date. As at March 31, 2022: ( ₹ in million) (US dollars in million) Financial liabilities Fair value Derivatives Amortised Others* Total Total fair Total Total fair Borrowings — — 530,967 — 530,967 531,898 6,999 7,011 Acceptances — — 110,936 — 110,936 110,936 1,462 1,462 Trade and other payables*** 10,335 ** 282,885 2,397 295,617 295,617 3,897 3,897 Financial instruments (derivatives) 1,354 4,011 — — 5,365 5,365 71 71 Total 11,689 4,011 924,788 2,397 942,885 943,816 12,429 12,441 * Includes put option liability accounted for at fair value (Refer Note 24) ** Under IFRS 9, provisionally priced payables are fair valued at each reporting date. *** Includes lease liability of ₹ 4,740 million ($ 63 million). Fair value hierarchy The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities • Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices) • Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs) The table below summarizes the categories of financial assets and liabilities as at March 31, 2021 and March 31, 2022 measured at fair value: As at March 31, 2021 (Level 1) (Level 2) (Level 3) ( ₹ in million) Financial assets At fair value through profit or loss — Investments 63,183 101,861 500 — Derivatives financial assets — 129 — — Trade and other receivables — 1,633 — At fair value through other comprehensive income — Financial asset investments held at fair value 925 — 107 Derivatives designated as hedging instruments — Derivatives financial assets — 572 — 64,108 104,195 607 Financial liabilities At fair value through profit or loss —Derivatives financial liabilities — 933 — Trade payable — 7,066 — Derivatives designated as hedging instruments —Derivatives financial liabilities — 2,618 — Trade and other payables- Put option liability with non controlling interest (Refer Note 24) — — 2,633 — 10,617 2,633 As at March 31, 2022 (Level 1) (Level 2) (Level 3) (Level 1) (Level 2) (Level 3) ( ₹ in million) (US dollars in million) Financial assets At fair value through profit or loss — Investments 72,072 99,326 295 950 1,309 4 — Derivatives financial assets — 101 — — 1 — — Trade and other receivables — 5,206 — — 69 — At fair value through other comprehensive income — Financial asset investments held at fair value 1,070 — 107 14 — 1 Derivatives designated as hedging instruments — Derivatives financial assets — 2,479 — — 33 — 73,142 107,112 402 964 1,412 5 Financial liabilities At fair value through profit or loss —Derivatives financial liabilities — 1,354 — — 18 — Trade payable — 10,335 — — 136 — Derivatives designated as hedging instruments —Derivatives financial liabilities — 4,011 — — 53 — Trade and other payables- Put option liability with non controlling interest (Refer Note 24) — — 2,397 — — 32 — 15,700 2,397 — 207 32 The table below summarizes the fair value of trade receivables, other non-current As at March 31, 2021 (Level 2) ( ₹ in million) Financial Assets -Other non-current 112,534 -Trade and other receivables* 97,711 210,245 Financial Liabilities - Borrowings 565,941 565,941 As at March 31, 2022 (Level 2) (Level 2) ( ₹ in million) (US dollars in million) Financial Assets -Other non-current 94,084 1,240 -Trade and other receivables* 160,771 2,119 254,855 3,359 Financial Liabilities -Borrowings 531,898 7,011 531,898 7,011 * Refer N The fair value of the financial assets and liabilities are at the amount that would be received to sell an asset and paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following methods and assumptions were used to estimate the fair values: • Investments traded in active markets are determined by reference to quotes from the financial institutions; for example: Net asset value (NAV) for investments in mutual funds declared by mutual fund house. For other listed securities traded in markets which are not active, the quoted price is used wherever the pricing mechanism is same as for other marketable securities traded in active markets. Other current investments are valued by referring to market inputs including quotes, trades, poll, primary issuances for securities and /or underlying securities issued by the same or similar issuer for similar maturities and movement in benchmark security, etc. • Financial assets forming part of cash and cash equivalents (including restricted cash and cash equivalents), bank deposits, financial liabilities forming part of trade and other payables, acceptances and short-term borrowings being carried at amortised cost. The fair value approximate their carrying amounts largely due to the short-term maturities of these instruments. • Non-current • Quoted financial asset investments: Fair value is derived from quoted market prices in active markets. • Unquoted financial asset investments: Fair value of unquoted securities are determined by reference to discounted cash flows model. • Derivative financial assets/liabilities: The Group executes derivative financial instruments with various counterparties. Interest rate swaps, foreign exchange forward contracts and commodity forward contracts are valued using valuation techniques, which employ the use of market observable inputs. The most frequently applied valuation techniques by the Group include forward pricing and swap models using present value calculations. The models incorporate various inputs including the foreign exchange spot and forward rates, yield curves of the respective currencies, currency basis spreads between the respective currencies, interest rate curves and forward rate curves of the underlying commodity. Commodity contracts are valued using the forward LME rates of commodities actively traded on the listed metal exchange, i.e., London Metal Exchange, United Kingdom (UK). • Other non-current For all other financial instruments, the carrying amount is either the fair value or approximates the fair value. The changes in counterparty credit risk had no material effect on the hedge effectiveness assessment for derivatives designated in hedge relationship and the value of other financial instruments recognised at fair value. The estimated fair value amounts as at March 31, 2021 and March 31, 2022 have been measured as at that date. As such, the fair values of these financial instruments subsequent to reporting date may be different than the amounts reported at each year-end. There were no significant transfers between level 1, level 2 and level 3 during the current year. Risk management framework The Group’s businesses are subject to several risks and uncertainties including financial risks. The Group’s documented risk management polices act as an effective tool in mitigating the various financial risks to which the businesses are exposed to in the course of their daily operations. The risk management policies cover areas such as liquidity risk, commodity price risk, foreign exchange risk, interest rate risk, counterparty credit risk and capital management. Risks are identified at both the corporate and individual subsidiary level with active involvement of senior management. Each operating subsidiary in the Group has in place risk management processes which are in line with the Group’s policy. Each significant risk has a designated ‘owner’ within the Group at an appropriate senior level. The potential financial impact of the risk and its likelihood of a negative outcome are regularly updated. The risk management process is coordinated by the Management Assurance function and is regularly reviewed by the Group’s Audit Committee. The Audit Committee is aided by the other committees of the Board including the Risk Management Committee, which meets regularly to review risks as well as the progress against the planned actions. Key business decisions are discussed at the periodic meetings of the Executive Committee. The overall internal control environment and risk management programme including financial risk management is reviewed by the Audit Committee on behalf of the Board. The risk management framework aims to: • improve financial risk awareness and risk transparency • identify, control and monitor key risks • identify risk accumulations • provide management with reliable information on the Group’s risk situation • improve financial returns Treasury management Treasury management focuses on liability management, capital protection, liquidity maintenance and yield maximization. The treasury policies are approved by the Board. Daily treasury operations of the subsidiary companies are managed by their respective finance teams within the framework of the overall Group treasury policies. Long-term fund raising, including strategic treasury initiatives, are managed jointly by the business treasury team and the central team at corporate treasury while short-term funding for routine working capital requirements is delegated to subsidiary companies. A monthly reporting system exists to inform senior management of investments and debt position, exposure to currency, commodity and interest rate risk and their mitigants including the derivative position. The Group has adequate system of internal control which enables effective monitoring of adherence to Group’s policies. The internal control measures are effectively supplemented by regular internal audits. The Group uses derivative instruments to manage the exposure in foreign currency exchange rates, interest rates and commodity prices. The Group does not acquire or issue derivative financial instruments for trading or speculative purposes. The Group does not enter into complex derivative transactions to manage the treasury and commodity risks. Both treasury and commodities derivative transactions are normally in the form of forward contracts, interest rate and currency swaps and these are in line with the Group’s policies. Commodity price risk The Group is exposed to the movement of base metal commodity prices on the London Metal Exchange. Any decline in the prices of the base metals that the Group produces and sells will have an immediate and direct impact on the profitability of the businesses. As a general policy, the Group aims to sell the products at prevailing market prices. The commodity price risk in import of input commodity such as Copper Concentrate & Alumina, for our copper and aluminium business, is hedged on back-to Whilst the Group aims to achieve average LME prices for a month or a year, average realised prices may not necessarily reflect the LME price movements because of a variety of reasons such as uneven sales during the year and timing of shipments. The Group is also exposed to the movement of international crude oil price and the discount in the price of Rajasthan crude oil to Brent price. Financial instruments with commodity price risk are entered into in relation to following activities: • economic hedging of prices realised on commodity contracts • cash flow hedging of revenues, forecasted highly probable transactions Aluminum The requirement of the primary raw material, alumina, is partly met from own sources and the rest is purchased primarily on negotiated price terms. Sales prices are linked to the LME prices. At present, the Group, on selective basis hedges the aluminium content in outsourced alumina to protect its margins. The Group also executes hedging arrangements for its aluminium sales to realise average month of sale LME prices. Copper The Group’s custom smelting copper operations at Tuticorin is benefitted by a natural hedge except to the extent of a possible mismatch in quotational periods between the purchase of concentrate and the sale of finished copper. The Group’s policy on custom smelting is to generate margins from Treatment charges/Refining charges or “Tc/Rc”, improving operational efficiencies, minimising conversion cost, generating a premium over LME on sale of finished copper, sale of by-products Tc/Rcs are a major source of income for the Indian copper smelting operations. Fluctuations in Tc/Rcs are influenced by factors including demand and supply conditions prevailing in the market for mine output. The Group’s copper business has a strategy of securing a majority of its concentrate feed requirement under long-term contracts with mines. Zinc, Lead and Silver The sales prices are linked to the LME prices. The Group also executes hedging arrangements for its Zinc, Lead and Silver sales to realise average month of sale LME prices. In exceptional circumstances, the Group may enter into strategic hedging with prior approval of the Board. Zinc International Raw material for zinc and lead is mined in South Africa with sales prices linked to the LME prices. Iron ore The Group sells its Iron Ore production from Goa on the prevailing market prices and from Karnataka through e-auction Oil and gas The prices of various crude oils are based upon the price of the key physical benchmark crude oil such as Dated Brent, West Texas Intermediate, and Dubai/Oman, etc. The crude oil prices move based upon market factors like supply and demand. The regional producers price their crude basis these benchmavrk crude with a premium or discount over the benchmark based upon quality differential and competitiveness of various grades. The Group has started hedging variability of crude price for part of the volume through forward contracts. Natural gas markets are evolving differently in important geographical markets. There is no single global market for natural gas. This could be owing to difficulties in large-scale transportation over long distances as compared to crude oil. Globally, there are three main regional hubs for pricing of natural gas, which are USA (Henry Hub Prices), UK (NBP Price) and Japan (imported gas price, mostly linked to crude oil). Provisionally priced financial instruments The value of net financial liabilities linked to commodities (excluding derivatives) accounted for on provisional prices was ₹ ₹ , Set out below is the impact of 10% increase in LME prices on pre-tax pre-tax For the year ended March 31, 2021 ( ₹ in million) Total Effect on pre-tax profit/(loss) Effect on pre-tax equity of a Copper (10,016 ) (1,002 ) — For the year ended March 31, 2022 ( ₹ in million) Total Effect on pre-tax profit/(loss) Effect on pre-tax Copper (8,304 ) (830 ) — For the year ended March 31, 2022 (US dollars in million) Total Effect on pre-tax profit/(loss) Effect on pre-tax Copper (109 ) (11 ) — The above sensitivities are based on volumes, costs, exchange rates and other variables and provide the estimated impact of a change in LME prices on profit and equity assuming that all other variables remain constant. A 10% decrease in LME prices would have an equal and opposite effect on the Group’s financial statements. The impact on pre-tax ₹ ₹ s , a Financial risk The Group’s Board approve s (a) Liquidity The Group requires funds both for short-term operational needs as well as for long-term investment programmes mainly in growth projects. The Group generates sufficient cash flows from the current operations which together with the available cash and cash equivalents short-term investments and structured investment net of deferred consideration payable for such investments provide liquidity both in the short-term as well as in the long-term. Anticipated future cash flows, together with undrawn fund based committed facilities of ₹ ₹ The Group has been rated by CRISIL Limited (CRISIL) and India Ratings and Research Private Limited (India Rating) for its capital market issuance in the form of CPs and NCDs and for its banking facilities in line with Basel II norms. CRISIL after revising the outlook to ‘Positive’ from ‘Stable’ in October 2021, upgraded its rating on the long-term bank facilities and debt instruments of Vedanta Limited to ‘CRISIL AA’ from ‘CRISIL AA-’ India Rating also upgraded Vedanta Limited’s long term issuer ratings to “IND AA” from “IND AA-“with The Group remains committed to maintaining a healthy liquidity, a low gearing ratio and deleveraging and strengthening Group’s balance sheet . The maturity profile of the Group’s financial liabilities based on the remaining period from the balance sheet date to the contractual maturity date is given in the table below. The figures reflect the contractual undiscounted cash obligation of the Group: As at March 31, 2021 Payment due by year <1 year 1 - 3 years 3 - 5 years >5 years Total ( ₹ in million) Acceptances* 84,201 — — — 84,201 Lease Liability* 4,808 601 220 782 6,411 Trade and other payables** 195,508 11,153 0 — 206,661 Bank and other borrowings*** 234,645 220,879 116,726 155,035 727,285 Derivative financial liabilities 2,786 764 — — 3,550 521,948 233,397 116,946 155,817 1,028,108 * Includes committed interest payments ** Includes both Non-current *** Includes Non-current As at March 31, 2022 Payment due by year <1 year 1 - 3 years 3 - 5 years >5 years Total ( ₹ in million) Acceptances* 111,654 — — — 111,654 Lease Liability* 3,236 1,131 86 287 4,740 Trade and other payables** 275,553 11,511 0 — 287,064 Bank and other borrowings*** 190,479 181,905 131,026 116,541 619,951 Derivative financial liabilities 5,308 57 — — 5,365 586,230 194,604 131,112 116,828 1,028,774 US dollars in million 7,727 2,565 1,728 1,540 13,560 * Includes committed interest payments ** Includes both Non-current *** Includes Non-current The Group had access to following funding facilities: As at March 31, 2021 Funding facility Total facility Drawn Un drawn ( ₹ in ( ₹ in ( ₹ in Fund/ Non-fund 727,522 562,322 165,200 As at March 31, 2022 Funding facility Total facility Drawn Un drawn ( ₹ in ( ₹ in ( ₹ in Fund/ Non-fund 811,810 642,266 169,545 As at March 31, 2022 Funding facility Total facility Drawn Un draw (US dollars in million) (US dollars in million) (US dollars in million) Fund/ Non-fund 10,700 8,465 2,235 Collateral The Group has pledged financial instruments with carrying amount of ₹ ₹ , , ₹ ₹ , , (b) Foreign currency risk Fluctuations in foreign currency exchange rates may have an impact on the consolidated statements of profit or loss, the consolidated statements of change in equity and consolidated statements of cash flows where any transaction references more than one currency or where assets/liabilities are denominated in a currency other than the functional currency of the respective consolidated entities. Considering the countries and economic environment in which the Group operates, its operations are subject to risks arising from the fluctuations primarily in the US dollar, Australian dollar, Namibian dollar, AED, ZAR, GBP, INR, JPY and Euro against the functional currencies of its Group. Exposures on foreign currency loans are managed through the Group wide hedging policy, which is reviewed periodically to ensure that the results from fluctuating currency exchange rates are appropriately managed. The Group strives to achieve asset, liability offset of foreign currency exposures and only the net position is hedged. The Group’s presentation currency is Indian Rupee. The majority of the assets are located in India and the Indian Rupee is the functional currency for the Indian operating subsidiaries except for Oil and Gas business. Natural hedges available in the business are identified at each entity level and hedges are placed only for the net exposure. Short-term net exposures are hedged progressively based on their maturity. A more conservative approach has been adopted for project expenditures to avoid budget overruns, where cost of the project is calculated taking into account the hedge cost. The hedge mechanisms are reviewed periodically to ensure that the risk from fluctuating currency exchange rates is appropriately managed. The following analysis is based on the gross exposure as at the reporting date which could affect the consolidated statements of profit or loss. The exposure summarised below is mitigated by some of the derivative contracts entered into by the Group as disclosed under the section on “Derivative financial instruments” The carrying amount of the Group’s financial assets and liabilities in different currencies are as follows: As at March 31, 2021 As at March 31, 2022 As at March 31, 2022 Financial Financial Financial Financial Financial Financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars (US dollars INR 402,393 636,589 391,701 646,234 5,163 8,518 USD 128,023 219,817 178,857 264,636 2,357 3,488 Others 8,231 25,187 13,000 32,015 172 422 Total 538,647 881,593 583,558 942,885 7,692 12,428 The Group’s exposure to foreign currency arises where a Group company holds monetary assets and liabilities denominated in a currency different to the functional currency of that entity, with USD (US Dollar) being the major non-functional The foreign exchange rate sensitivity is calculated by the aggregation of the net foreign exchange rate exposure with a simultaneous parallel foreign exchange rates shift in the currencies by 10 % against the functional currencies of the respective entities. Set out below is the impact of a 10% strengthening in the functional currencies of the respective entities on pre-tax pre-tax For the year ended March 31, 2021 Effect of 10% on pre-tax profit/(loss) Effect of 10% on equity (pre-tax) ( ₹ in million) ( ₹ in million) USD 11,325 — INR (3,072 ) — For the year ended March 31, 2022 Effect of 10% on pre-tax profit/(loss) Effect of 10% (pre-tax) Effect of 10% on pre-tax profit/(loss) Effect of 10% on equity (pre-tax) ( ₹ in million) ( ₹ in million) (US dollars in million) (US dollars in million) USD 9,116 — 120 — INR (4,522 ) — (60 ) — A 10% weakening of the functional currencies of respective businesses would have an equal and opposite effect on the Group’s financial statements. (c) Interest rate risk The Group’s net debt of ₹ ₹ , ₹ ₹ , ₹ ₹ , The Group is exposed to interest rate risk on short-term and long-term floating rate instruments and on the refinancing of fixed rate debt. The Group’s policy is to maintain a balance of fixed and floating interest rate borrowings and the proportion of fixed and floating rate debt is determined by current market interest rates. The borrowings of the Group are principally denominated in Indian Rupees and US dollars with mix of fixed and floating rates of interest. The USD floating rate debt is linked to US dollar LIBOR and INR floating rate debt to Bank’s base rate. The Group has a policy of selectively using interest rate swaps, option contracts and other derivative instruments to manage its exposure to interest rate movements. These exposures are reviewed by appropriate levels of management on a monthly basis. The Group invests cash and liquid investments in short-term deposits and debt mutual funds, some of which generate a tax-free Floating rate financial assets are largely mutual fund investments which have debt securities as underlying assets. The returns from these financial assets are linked to market interest rate movements; however, the counterparty invests in the agreed securities with known maturity tenure and return and hence has manageable risk. The exposure of the Group’s financial assets as at March 31, 2021 to interest rate risk is as follows: Floating rate Fixed rate Non-interest bearing Total financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in Financial assets 312,971 374,148 208,705 895,824 312,971 374,148 208,705 895,824 The exposure of the Group’s financial liabilities as at March 31, 2021 to interest rate risk is as follows: Floating rate Fixed rate Non-interest bearing Total financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in Financial liabilities 322,843 329,629 229,121 881,593 322,843 329,629 229,121 881,593 The exposure of the Group’s financial assets as at March 31, 2022 to interest rate risk is as follows: Floating rate Fixed rate Non-interest bearing Total financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in Financial assets 91,124 245,756 246,679 583,558 91,124 245,756 246,679 583,558 (US dollars in million) 1,201 3,239 3,252 7,692 The exposure of the Group’s financial liabilities as at March 31, 2022 to interest rate risk is as follows: Floating rate Fixed rate Non-interest bearing Total financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in Financial liabilities 355,778 299,870 287,237 942,885 355,778 299,870 287,237 942,885 (US dollars in million) 4,689 3,952 3,787 12,428 Considering the net debt position as at March 31, 2022 and the investment in bank deposits, corporate bonds and debt mutual funds, any increase in interest rates would result in a net loss and any decrease in interest rates would result in a net gain. The sensitivity analysis below has been determined based on the exposure to interest rates for financial instruments at the balance sheet date. The table below illustrates the impact of a 0.5% to 2.0% movement in interest rates on floating rate financial assets/ liabilities (net) on profit/(loss) and equity assuming that the changes occur at the reporting date and has been calculated based on risk exposure outstanding as of date. The year end balances are not necessarily representative of the average debt outstanding during the year. This analysis also assumes that all other variables, in particular foreign currency rates, remain constant. Increase in interest rates Year ended March 31 , 2021 2022 2022 ( ₹ in ( ₹ in (US dollars 0.50% (1,048) (1,323) (17) 1.00% (2,095) (2,647) (35) 2.00% (4,191) (5,293) (70) An equivalent reduction in interest rates would have an equal and opposite effect on the Group’s financial statements. (d) Credit risk Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the Group. The Group has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The Group is exposed to credit risk from trade receivables, contract assets, cash and cash equivalents, short term investments and other financial instruments. Credit risk on receivables is limited as almost all credit sales are against letters of credit and guarantees of banks of national standing. Moreover, given the diverse nature of the Group’s businesses , non-performance N The Group has clearly defined policies to mitigate counterparty risks. For short-term investments, counterparty limits are in place to limit the amount of credit exposure to any one counterparty. This, therefore, results in diversification of credit risk for the Group’s The carrying value of the financial assets represents the maximum credit exposure. The Group’s maximum exposure to credit risk as at March 31, 2021 and March 31, 2022 is ₹ ₹ , The maximum credit exposure on financial guarantees given by the Group for various financial facilities is described in Note 33 on “Commitments, contingencies, and guarantees”. None of the Group’s cash equivalents, including time deposits with banks, are past due or impaired. Regarding trade and other receivables, and other non-current Of the year end trade and other receivables, the following are expected to be realised in the normal course of business and hence not considered impaired: As at March 31 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Neither impaired nor past due 134,386 158,314 2,087 Past due but not impaired Due Less than 1 month 6,116 21,085 278 Due Between 1 - 3 months 2,763 3,694 49 Due Between 3 - 12 months 8,419 3,904 51 Due Greater than 12 months 44,016 52,894 697 195,700 239,891 3,162 Receivables are deemed to be past due or impaired with reference to the Group’s normal terms and conditions of business. These terms and conditions are determined on a case to case basis with reference to the customer’s credit quality and prevailing market conditions. Receivables that are classified as ‘past due’ in the above table are those that have not been settled within the terms and conditions that have been agreed with that customer. The credit quality of the Group’s customers is monitored on an ongoing basis. Where receivables have been impaired, the Group actively seeks to recover the amounts in question and enforce compliance with credit terms. Movement in allowances for Financial Assets (trade and other receivables and other non-current Movements for the year ended March 31, 2021 2022 2022 ( ₹ in million) ( ₹ in million) (US dollars As at April 1, 13,050 15,333 202 Allowance made during the year 2,969 2101 28 Reversals during the year (592 ) (1 ) (0 ) Exploration cost written off 22 — — Foreign Exchange difference (116 ) 140 2 As at March 31, 15,333 17,573 232 Derivative financial instruments The Group uses derivative instruments as part of its management of exposure to fluctuations in foreign currency exchange rates, interest rates and commodity prices. The Group does not acquire or issue derivative financial instruments for trading or speculative purposes. The Group does not enter into complex derivative transactions to manage the treasury and commodity risks. Both treasury and commodities derivative transactions are normally in the form of forward contracts and these are subject to the Group guidelines and policies. The fair values of all derivatives are separately recorded in the consolidated statements of financial position within current and non-current non-current The use of derivatives can give rise to credit and market risk. The Group tries to control credit risk as far as possible by only entering into contracts with reputable banks and financial institutions. The use of derivative instruments is subject to limits, authorities and regular monitoring by appropriate levels of management. The limits, authorities and monitoring systems are periodically reviewed by management and the Board. The market risk on derivatives is mitigated by changes in the valuation of the underlying assets, liabilities or transactions, as derivatives are used only for risk management purposes. Cash flow hedges The Group enters into forward exchange and commodity price contracts for hedging highly probable forecast transaction a |
Provisions
Provisions | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Provisions | 26. Provisions As at March 31, 2021 Non-Current 2021 2021 2022 Non-Current 2022 2022 2022 Non-Current 2022 2022 ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars (US dollars (US dollars Provision for employee benefits 117 1,545 1,662 104 1774 1,878 1 24 25 Provision for restoration, rehabilitation and environmental costs 29,737 275 30,012 32,178 278 32,456 424 4 428 Other provisions — 558 558 — 1,098 1,098 — 14 14 Total 29,854 2,378 32,232 32,282 3,150 35,432 425 42 467 Restoration, Others ( ₹ in ( ₹ in As at April 1, 2020 26,760 541 Additions 2,701 17 Utilised (24 ) — Unused amounts reversed (243 ) — Unwinding of discount 721 — Revision in estimates (122 ) — Exchange differences 219 — As at March 31, 2021 30,012 558 Restoration, Others Restoration, Others ( ₹ in ( ₹ in US dollars (US dollars As at April 1, 2021 30,012 558 396 7 Additions 350 540 5 7 Utilised (45 ) — (1 ) — Unwinding of discount 777 — 10 — Revision in estimates 539 — 7 — Exchange differences 823 — 11 — As at March 31, 2022 32,456 1,098 428 14 (a) Restoration, rehabilitation and environmental costs An obligation to incur restoration, rehabilitation and environmental costs arises when environmental disturbance is caused by the development or ongoing production from a producing field. The provisions for restoration, rehabilitation and environmental liabilities represent the management’s best estimate of the costs which will be incurred in the future to meet the Group’s obligations under existing Indian, Australian, Namibian, South African and Irish law and the terms of the Group’s exploration and other licences and contractual arrangements. Within India, the principal restoration and rehabilitation provisions are recorded within Oil and Gas division where a legal obligation exists relating to the oil and gas fields and where costs are expected to be incurred in restoring the site of production facilities at the end of the producing life of an oil field. The Group recognises the full cost of site restoration as a liability when the obligation to rectify environmental damage arises. These amounts are calculated by considering discount rates within the range of 2% to 10% and become payable on closure of mines and are expected to be incurred over a period of one The lower range of discount rate is at Oil and Gas and Zinc international operations in Ireland and higher range is at Zinc International operations in African c (b) Other provisions Other provisions include provision for disputed cases and claims. |
Retirement benefits
Retirement benefits | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Retirement benefits | 27. Retirement benefits The Group participates in defined contribution and benefit plans, the assets of which are held (where funded) in separately administered funds. For defined contribution plans , For defined benefit plans, the cost of providing benefits under the plans is determined by actuarial valuation separately each year for each plan using the projected unit credit method by independent qualified actuaries as at the year end. Remeasurement gains and losses arising in the year are recognised in full in consolidated statement of comprehensive income for the year. (i) Defined contribution plans The Group contributed a total of ₹ ₹ ₹ , Year ended ₹ Million) Year ended ₹ Million) Year ended ₹ Million) Year ended Employer’s contribution to recognised provident fund and family pension fund 630 978 1,111 15 Employer’s contribution to superannuation 210 208 230 3 Employer’s contribution to National Pension Scheme — 4 45 1 840 1,190 1,386 19 Indian pension plans Central recognised provident fund In accordance with the ‘The Employees’ Provident Funds and Miscellaneous Provisions Act,1952’, employees are entitled to receive benefits under the Provident Fund. Both the employee and the employer make monthly contributions to the plan at a predetermined rate (12% for the year ended March 31, 2021 and March 31, 2022) of an employee’s basic salary and includes contribution made to Family Pension Fund as explained below. All employees have an option to make additional voluntary contributions. These contributions are made to the fund administered and managed by the Government of India (GOI) or to independently managed and approved funds. The Group has no further obligations under the fund managed by the GOI beyond its monthly contributions which are charged to the consolidated statements of profit or loss in the year they are incurred. Family Pension Fund The Family G OI At the age of superannuation, contributions cease and the individual receives a monthly payment based on the level of contributions through the years, and on their salary scale at the time they retire, subject to a maximum ceiling of salary level. The GOI Superannuation Superannuation, another pension scheme applicable in India, is applicable only to executives above certain grade. However, in case of oil and gas (applicable from the second year of employment) and Iron Ore segment, the benefit is applicable to all executives. Vedanta Limited and each relevant Indian subsidiary holds policy with the Life Insurance Corporation of India (“LIC”), to which each of these entities contributes a fixed amount relating to superannuation and the pension annuity is met by the LIC as required, taking into consideration the contributions made. The Group has no further obligations under the scheme beyond its monthly contributions which are charged to the consolidated statements of profit or loss in the year they are incurred. National Pension Scheme National Pension Scheme is a retirement savings account for social security and welfare applicable for executives covered under the superannuation benefit of Vedanta Limited and each relevant Indian subsidiary, on a choice basis. It was introduced to enable employees to select the treatment of superannuation component of their fixed salaries and avail the benefits offered by the National Pension Scheme launched by GOI. Vedanta Limited and each relevant Indian subsidiary holds a corporate account with one of the pension fund managers authorized by the GOI to which each entity contributes a fixed amount relating to superannuation and the pension annuity will be met by the fund manager as per rules of National Pension Scheme. The Group has no further obligations under the scheme beyond its monthly contributions which are charged to the consolidated statement of profit and loss in the year they are incurred. Australian pension scheme The Group also participates in defined contribution superannuation schemes in Australia. The contribution of a proportion of an employee’s salary into a superannuation fund is a compulsory legal requirement in Australia. The employer contributes, into the employee’s fund of choice , Skorpion Zinc Provident Fund, Namibia The Skorpion Zinc Provident Fund is a defined contribution fund and is compulsory to all full time employees under the age of 60. The contribution to the fund is a fixed percentage of 9% per month of pensionable salary, as defined, Normal retirement age is 60 years and benefit payable is the member’s fund credit which is equal to all employer and employee contributions plus interest. The same applies when an employee resigns from Skorpion. The Fund provides disability cover which is equal to the member’s fund credit and a death cover of 2 times annual salary in the event of death before retirement. The Group has no additional liability beyond the contributions that it makes. Accordingly, this scheme has been accounted for on a defined contribution plan Black Mountain (Pty) Limited, South Africa Pension and Provident Funds Black Mountain Mining (Pty) Ltd has two retirement funds, both administered by Alexander Forbes, a registered financial service provider. The purpose of the funds is to provide retirement and death benefits to all eligible employees. Group contributes at a fixed percentage of 10.5% for up to supervisor grade and 15% for others. Membership of both funds is compulsory for all permanent employees under the age of 60 years. The Group has no additional liability beyond the contributions that it makes. Accordingly, this scheme has been accounted for on a defined contribution basis and contributions are charged directly to the consolidated statements of profit or loss in the year they are incurred. (ii) Defined benefit plans (a) Contribution to provident fund trust (the “trusts”) of Iron ore division, BALCO, HZL, Sesa Resources Limited (SRL) and Sesa Mining Corporation Limited (SMCL) The provident funds of Iron ore division, BALCO, HZL, SRL and SMCL are exempted under section 17 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. Conditions for grant of exemption stipulates that the employer shall make good deficiency, if any, between the return guaranteed by the statute and actual earning of the Fund. Based on actuarial valuation in accordance with IAS 19 (Employee Benefits) The Group contributed a total of ₹ ₹ ₹ March 31, 2021 and March 31, 2022, respectively in relation to the independently managed and approved funds and has recognised the same as expense in the consolidated statement of profit or loss. The present value of obligation and the fair value of plan assets of the trust are summarized below. As at ₹ Million) As at ₹ Million) As at ₹ Million) As at Fair value of plan assets of trusts 23,437 24,213 25,317 334 Present value of defined benefit obligations (22,990 ) (23,751 ) (25,102 ) (331 ) Net liability arising from defined benefit obligation Nil Nil Nil Nil Percentage allocation of Plan assets of the trust As at As at As at Assets by category Government Securities 61.68 63.19 58.62 Debentures/Bonds 36.67 34.36 35.54 Equity 1.65 1.63 4.64 Money Market Instruments — 0.82 1.20 The remeasurement loss of ₹ ₹ ₹ s , (b) Post-Retirement Medical Benefits: The Group has a scheme of medical benefits for employees at BMM and BALCO subsequent to their retirement on completion of tenure including retirement on medical grounds and voluntary retirement on contributory basis. The scheme includes employee’s spouses as well. Based on an actuarial valuation conducted as at year-end, ₹ ₹ , ₹ ₹ ₹ , , / ₹ ₹ ₹ , , ₹ ₹ ₹ , , Other Post employment Benefits: India - Gratuity plan In accordance with the Payment of Gratuity Act of 1972, Vedanta Limited and its Indian subsidiaries contribute to a defined benefit plan (the “Gratuity Plan”) covering certain categories of employees. The Gratuity Plan provides a lump sum payment to vested employees at retirement, disability or termination of employment being an amount based on the respective employee’s last drawn salary and the number of years of employment with the Group. Based on actuarial valuations conducted as at year end using the projected unit credit method, a provision is recognised in full for the benefit obligation over and above the funds held in the Gratuity Plan. For entities where the plan is unfunded, full provision is recognised in the consolidated statements of financial position. The Iron ore and oil and gas division of the Company, SRL, SMCL, HZL and FACOR have constituted a trust recognised by Indian Income Tax Authorities for gratuity to employees, contributions to the trust are funded with LIC, ICICI Prudential Life Insurance Company Limited (ICICI) and HDFC Life Insurance Company Limited (HDFC). Principal actuarial assumptions Principal actuarial assumptions used to determine the present value of the Other post-employment benefit plan obligation are as follows: Year ended Year ended Year ended Discount rate 6.8 % 6.9 % 7.2 % Expected rate of increase in compensation level of covered employees 2% to 15 % 2% to 15 % 2% to 15% Mortality table IALM (2012-14) IALM (2012-14) IALM (2012-14) Amount recognised in the consolidated statements of financial position consists of: As at ₹ Million) As at ₹ Million) As at ₹ Million) As at in million) Fair value of plan assets 4,418 4,009 4,411 58 Present value of defined benefit obligations (6,310 ) (5,748 ) (6,004 ) (79 ) Net liability arising from defined benefit obligations (1,892 ) (1,739 ) (1,593 ) (21 ) Amounts recognised in consolidated statements of profit or loss in respect of Other post-employment benefit plan are as follows: Year ended ₹ Million) Year ended ₹ Million) Year ended ₹ Million) Year ended Current service cost 411 395 390 5 Net Interest cost 151 130 124 2 Total charge to consolidated statements of profit or loss 562 525 514 7 Amounts recognised in the consolidated statements of comprehensive income in respect of Other post-employment benefit plan are as follows: Year ended ₹ Million) Year ended ₹ Million) Year ended ₹ Million) Year ended Remeasurements of the net defined benefit obligation Actuarial losses /(gains) arising from changes in financial assumptions 283 11 172 2 Actuarial losses/(gains) arising from experience adjustments 163 (104 ) (47 ) (1 ) Actuarial (gains)/losses arising from changes in demographic (14 ) (2 ) (29 ) (0 ) Actuarial losses on Plan assets (excluding amounts included in net interest cost) 12 58 18 0 Remeasurement of the net defined benefit liability 444 (37 ) 114 1 The movement of the present value of Other post-employment benefit plan obligation is as follows: Year ended ₹ in Million) Year ended ₹ in Million) Year ended ₹ in Million) Year ended At April 1 (5,890 ) (6,310 ) (5,748 ) (76 ) Acquired in business combination — (177 ) — — Current service cost (411 ) (395 ) (390 ) (5 ) Benefits paid 875 1,475 623 8 Interest cost of scheme liabilities (452 ) (436 ) (393 ) (5 ) Actuarial (losses)/gains arising from change in assumptions (432 ) 95 (96 ) (1 ) At March 31, (6,310 ) (5,748 ) (6,004 ) (79 ) The movement in the fair value of Other post-employment benefit plan assets is as follows: Year ended ₹ in Million) Year ended ₹ in Million) Year ended ₹ in Million) Year ended At April 1 3,868 4,418 4,009 53 Acquired in business combination — 160 — — Contributions received 859 184 693 9 Benefits paid (598 ) (1,001 ) (542 ) (7 ) Remeasurement loss arising from return on plan assets (12 ) (58 ) (18 ) (0 ) Interest income 301 306 269 3 At March 31, 4,418 4,009 4,411 58 All the above plan assets of the Group have been invested in the qualified insurance policies. The actual return on plan assets was ₹ ₹ ₹ , The weighted average duration of the defined benefit obligation is 14.3 years, 14.0 years and 13.3 years as at March 31, 2020, March 31, 2021 and March 31, 2022 , The Group expects to contribute ₹ P Sensitivity analysis for defined benefit plans Below is the sensitivity analysis determined for significant actuarial assumptions for the determination of defined benefit obligations and based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period while holding all other assumptions constant. Increase / (Decrease) in Increase / (Decrease) in Year ended ₹ in million) Year ended ₹ in million) Year ended Discount rate Increase by 0.50% (213 ) (229 ) (3 ) Decrease by 0.50% 231 248 3 Expected rate of increase in compensation level of covered employees Increase by 0.50% 208 217 3 Decrease by 0.50% (199 ) (209 ) (3 ) The above sensitivity analysis may not be representative of the actual benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. In presenting the above sensitivity analysis, the present value of defined benefit obligation has been calculated using the projected unit credit method at the end of reporting period, which is the same as that applied in calculating the defined obligation liability recognised in the consolidated statements of financial position. Risk analysis Group is exposed to a number of risks in the defined benefit plans. Most significant risks pertaining to defined benefits plans and management estimation of the impact of these risks are as follows: Investment risk Most of the Indian defined benefit plans are funded with LIC, ICICI and HDFC. The Group does not have any liberty to manage the funds provided to LIC, ICICI and HDFC. The present value of the defined benefit plan obligation is calculated using a discount rate determined by reference to GOI bonds for the Group’s Indian operations. If the return on plan asset is below this rate, it will create a plan deficit. Interest risk A decrease in the interest rate on plan assets will increase the net plan obligation. Longevity risk/ Life expectancy The present value of the defined benefit plan obligation is calculated by reference to the best estimate of the mortality of plan participants both during and at the end of the employment. An increase in the life expectancy of the plan participants will increase the plan obligation. Salary growth risk The present value of the defined benefit plan obligation is calculated by reference to the future salaries of plan participants. An increase in the salary of the plan participants will increase the plan obligation. Code on Social Security, 2020 The Code on Social Security, 2020 (‘Code’) relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Group will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective. |
Employee costs
Employee costs | 12 Months Ended |
Mar. 31, 2022 | |
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Employee costs | 28. Employee costs For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Salaries and wages 30,217 31,260 30,632 404 Contributions to provident and other funds 1,735 2,077 2,259 30 Share based payments 727 597 785 10 JV Employee cost allocation (5,759 ) (5,302 ) (5,557 ) (73 ) 26,920 28,632 28,119 371 |
Share-Based Compensation Plans
Share-Based Compensation Plans | 12 Months Ended |
Mar. 31, 2022 | |
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Share-Based Compensation Plans | 29. Share-Based Compensation Plans The Company offers equity based and cash based option plans to its employees, officers and directors through the Company’s stock option plan introduced in 2016 and Cairn India’s stock option plan now administered by the Company pursuant to its merger with the Company. The Vedanta Limited Employee Stock Option Scheme (ESOS) 2016 The Company introduced an Employee Stock Option Scheme 2016 (“ESOS”), which was approved by the Vedanta Limited shareholders to provide equity settled incentive to all employees of the Company including subsidiary companies. The ESOS scheme includes tenure based, business performance based, sustained individual performance based and market performance based stock options. The maximum value of options that can be awarded to members of the wider management group is calculated by reference to the grade average cost-to-company Options granted during the year ended March 31, 2022 and year ended March 31, 2021 include business performance based, sustained individual performance based, management discretion and fatality multiplier based stock options. Business performances are measured using Volume, Cost, Net Sales Realization, EBITDA, ESG and Carbon footprint or a combination of these for the respective business/ SBU entities. The exercise price of the options is ₹ re-testing The details of share options for the year ended March 31, 2021 is presented below: Financial Year of Grant Exercise Period Options Options Options Options Options Options 2016-17 December 15, 2019-June 14, 2020 1,068,516 — 8,648 1,059,868 — — 2017-18 September 1, 2020-February 28, 2021 7,027,925 — 5,514,169 1,136,816 376,940 376,940 2017-18 October 16, 2020-April 15, 2021 11,126 — 11,126 — — — 2018-19 November 1, 2020-April 30, 2021 11,420,046 — 1,507,806 — 9,912,240 — 2018-19 Cash settled 1,069,156 — 340,300 — 728,856 — 2019-20 November 29, 2022-May 28, 2023 15,881,330 — 2,309,052 — 13,572,278 — 2019-20 Cash settled 1,896,700 — 1,019,249 877,451 — 2020-21 November 06, 2023-May 5, 2024 — 12,711,112 — — 12,711,112 — 2020-21 Cash settled — 1,020,889 — — 1,020,889 — 38,374,799 13,732,001 10,710,350 2,196,684 39,199,766 376,940 The details of share options for the year ended March 31, 2022 is presented below: Financial Grant Exercise Period Options Options Options Options Options Options 2017-18 September 1, 2020-February 28, 2021 376,940 — 23,457 353,483 — — 2018-19 November 1, 2021-April 30, 2022 9,912,240 — 6,906,444 2,682,781 323,015 323,015 2018-19 Cash settled 728,856 — 489,731 239,125 — — 2019-20 November 29, 2022-May 28, 2023 13,572,278 — 2,090,560 — 11,481,718 — 2019-20 Cash settled 877,451 — 197,050 — 680,401 — 2020-21 November 6, 2023-May 5, 2024 12,711,112 — 1,903,591 — 10,807,521 — 2020-21 Cash settled 1,020,889 — 295,966 — 724,923 — 2021-22 November 1, 2024 - April 30, 2025 — 12,083,636 779,037 — 11,304,599 — 2021-22 Cash settled — 864,537 22,770 — 841,767 — 39,199,766 12,948,173 12,708,606 3,275,389 36,163,944 323,015 The fair value of all equity settled options has been determined at the date of grant of the option allowing for the effect of any market-based performance conditions. This fair value, adjusted by the Group’s estimate of the number of options that will eventually vest as a result of non-market The fair value of cash settled options is measured initially and at each reporting date up to and including the settlement date, with changes in fair value recognised in employee benefits expense. Business Performance-Based and Sustained Individual Performance-Based Options: The fair value of stock options following these types of vesting conditions have been estimated using the Black-Scholes-Merton Option Pricing model. The value arrived at under this model has been then multiplied by the expected % vesting based on business performance conditions (only for business performance-based options) and the expected multiplier on account of sustained individual performance (for both type of options). The inputs used in the Black-Scholes-Merton Option Pricing model include the share price considered as of the valuation date, exercise price as per the scheme/ plan of the options, expected dividend yield (estimated based on actual/ expected dividend trend of the company), expected tenure (estimated as the remaining vesting period of the options), the risk-free rate (considered as the zero coupon yield as of the valuation date for a term commensurate with the expected tenure of the options) and expected volatility (estimated based on the historical volatility of the return in C Total Shareholder Returns-Based Options: The fair value of stock options following this type of vesting condition has been estimated using the Monte Carlo Simulation method. This method has been used to simulate the expected share prices for Vedanta Limited and the companies of the comparator group over the vesting period of the options. Based on the simulated prices, the expected pay-off , vis-à-vis C The assumptions used in the calculations of the charge in respect of the ESOS options granted during the year ended March 31, 2021 and March 31, 2022 are set out below: Particulars Year ended March 31, 2021 Year ended March 31, 2022 ESOS 2020 ESOS 2021 Number of o 1,020,889 (cash settled)/ 864,537 (cash settled)/ 12,083,636 (equity settled) Exercise p ₹ ₹ Share p ₹ ₹ Contractual l 2 years and 7 months 3 years Expected volatility 49.28% 49.67% Expected option life 2 years and 7 months 3 years Expected dividends 6.80% 6.80% Risk free interest rate 4.84% 5.02% Expected annual forfeitures 10%p.a. 10%p.a. Fair value per option granted ( n ₹ ₹ Weighted average share price at the date of exercise of stock options was ₹ ₹ , The weighted average remaining contractual life for the share options outstanding was 2.03 years and 1.62 years for the year s , The Company recognized total expense of ₹ ₹ ₹ s , ₹ ₹ s , ₹ ₹ Employee stock option plans of erstwhile Cairn India Limited (CIESOP): The Company has provided CIESOP share based payment scheme to its employees. CIESOP Plan There are no specific vesting conditions under CIESOP plan other than completion of the minimum service period of 3 years from the date of grant. Phantom options are exercisable proportionate to the period of service rendered by the employee subject to completion of one year. The exercise period is 7 years from the vesting date. Details of employees stock option plans is presented below CIESOP Plan Year ended March 31, 2021 Year ended March 31, 2022 Number of Weighted ₹ Number of Weighted ₹ Outstanding at the beginning of the year 5,341,740 288.2 3,315,174 287.30 Granted during the year Nil NA Nil NA Expired during the year (1,082,229) 291.3 Nil NA Exercised during the year Nil NA (483,085) 286.85 Forfeited / cancelled during the year (944,337) 288.0 (1,794,448) 287.70 Outstanding at the end of the year 3,315,174 287.3 1,037,641 286.85 Exercisable at the end of the year 3,315,174 287.3 1,037,641 286.85 Weighted average share price at the date of exercise of stock options was ₹ Scheme Range of ₹ Weighted Weighted ₹ The details of exercise price for stock options outstanding as at March 31, 2021 are: CIESOP Plan 286.85-287.75 0.80 287.30 The details of exercise price for stock options outstanding as at March 31, 2022 are: CIESOP Plan 286.85 0.31 286.85 Employee share option plan of Vedanta Resources Limited In respect of one of the Company’s subsidiary, BMM, the Group has awarded certain cash settled share based options indexed to the valuation of BMM. The total expense recognised on account of cash settled share based plan during the year s ended March 31, 2020, March 31, 2021 and March 31, 2022 is ₹ million, ₹ million and ₹ million ($ million) , respectively , ₹ million and ₹ million ($ million) , respectively Out of the total expense of ₹ ₹ s , ₹ ₹ in s , |
Shareholders' equity
Shareholders' equity | 12 Months Ended |
Mar. 31, 2022 | |
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Shareholders' equity | 30. Shareholders’ equity As at As at ₹ Million) As at As at ₹ Million) As at Authorised Share Capital: Opening and closing balance (equity shares of ₹ 44,020 44,020 44,020 44,020 580 Authorised preference share capital: Opening and closing balance (preference shares of ₹ 3,010 30,100 3,010 30,100 397 Issued, subscribed and paid up Equity shares of ₹ a,b,c,d 3,718 3,718 3,718 3,718 49 a) The Company has one class of equity shares having a par value of ₹ b) This includes 160,903,244 equity shares in the form of 40,225,811 American Depository Shares (ADS) as at March 31, 2021. The American Depository Shares (ADS) of the Company have been delisted from NYSE effective close of trading on NYSE on November 8, 2021. Refer Group overview section for detailed note. c) Includes 308,232 equity shares as at March 31, 2021 and 305,832 equity shares as at March 31, 2022 kept in abeyance. These shares are not part of listed equity capital and pending allotment as they are sub-judice. d) Includes 12,193,159 equity shares as at March 31, 2021 and 8,693,406 equity shares as at March 31, 2022 held by Vedanta Limited ESOS Trust. Securities premium Securities premium is created to record amounts received in excess of the par value of shares in separate account as required by the Indian Companies Act. The securities premium account may be applied by the Company towards the issue of unissued shares of the Company to the members of the Company as fully paid bonus shares, writing off the preliminary expenses of the Company, writing off the expenses of, or the commission paid or discount allowed on any issue of shares or debentures of the Company, providing for the premium payable on the redemption of any redeemable preference shares or of any debentures of the Company; or for the purchase of its own shares or other securities. Retained earnings includes amongst others, general reserve, debenture redemption reserve, preference share redemption reserve and capital reserve. General reserve Under the erstwhile Indian Companies Act, 1956, a general reserve was created through an annual transfer of net income at a specified percentage in accordance with applicable regulations. The purpose of these transfers was to ensure that if a dividend distribution in a given year is more than 10.0% of the paid-up the , ₹ million) as at March 31, 2021 and March 31, 2022. The Board of Directors of the Company, basis the recommendations of the Audit & Risk Management Committee and Committee of Independent Directors of the Company, at its meeting held on October 29, 2021 approved the Scheme of Arrangement (“Scheme”) between the Company and its shareholders under Section 230 and other applicable provisions of the Companies Act, 2013. The Scheme inter alia provides for capital reorganization of the Company, whereby it is proposed to transfer amounts standing to the credit of the General Reserves to the Retained Earnings of the Company with effect from the Appointed Date. The Scheme is subject to receipt of regulatory approvals/ clearances from the Hon’ble National Company Law Tribunal, Mumbai Bench, Securities and Exchange Board of India (through BSE Limited and National Stock Exchange of India Limited), BSE Limited and National Stock Exchange of India Limited (collectively referred to as “Stock Exchanges”) and such other approvals/ clearances as may be applicable. Pursuant to the Scheme, the Company will possess greater flexibility to undertake capital related decisions and reflect a more efficient balance sheet. Debenture redemption reserve As per the earlier provision under the Indian Companies Act 2013 were as a reserve of outstanding redeemable debentures. The amounts credited to the debenture redemption reserve may not be utilized except to redeem debentures. The MCA, vide its Notification dated August 16, 2019, had amended the Companies (Share Capital and Debenture) Rules, 2014, wherein the requirement of creation of Debenture Redemption Reserve has been exempted for certain class of companies, hence, in view of the same, the Company is not required to create Debenture Redemption Reserve. Retained earnings ₹ ₹ of debenture redemption reserve as at March 31, 2021 and March 31, 2022 respectively. Preference share redemption reserve The Indian Companies Act 2013 If profits are used to redeem preference shares, the value of the nominal amount of shares redeemed should be transferred from profits (retained earnings) to the preference share redemption reserve account. This amount should then be utilised for the purpose of redemption of redeemable preference shares. This reserve can be used to issue fully paid-up bonus shares to the shareholders of the Company. Retained earnings s ₹ Capital reserve The balance in capital reserve as at March 31, 2021 and March 31, 2022 is ₹ ₹ , non-controlling non-controlling |
Non-controlling Interests ('NCI
Non-controlling Interests ('NCI') | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Non-controlling Interests (‘NCI') | 31. Non-controlling Details of subsidiaries that have material non-controlling The Group consists of a parent company, Vedanta Limited, incorporated in India and a number of subsidiaries held directly and indirectly by the Group which operate and are incorporated around the world. Note 34 to the financial statements lists the details of shareholdings in the subsidiaries. The Non-controlling As at March 31, 2021 and March 31, 2022, these holdings are 35.08%, 49.00%, 26.00%, 48.37%, 4.51% and 10.00% in HZL, BALCO, BMM, ASI, ESL and FPL, respectively. The principal place of business of HZL, BALCO, ESL and FPL is in India, BMM is in South Africa and ASI is in Japan, South Korea and Taiwan. The table below shows summarized financial information of subsidiaries of the Group that have material non-controlling As at March 31, 2021 ( ₹ in million) HZL BALCO Others Total Current assets 245,694 28,748 41,604 316,046 Non-current 203,262 110,396 134,990 448,648 Current liabilities 77,512 53,990 37,575 169,077 Non-current 45,043 28,874 77,778 151,695 Equity attributable to equity holders of the Parent 211,900 28,703 59,236 299,839 Non-controlling 114,501 27,577 7,374 149,452 * ₹ million (loss) attributable to NCI of ASI transferred to put option liability as at March 31, 2021. As at March 31, 2022 ( ₹ in million) HZL BALCO Others Total Current assets 239,851 30,910 40,911 311,672 Non-current 199,444 110,602 151,829 461,875 Current liabilities 59,544 42,091 42,333 143,968 Non-current 34,002 16,728 81,169 131,899 Equity attributable to equity holders of the Parent 224,460 42,173 64,092 330,725 Non-controlling 121,289 40,520 9,547 171,356 * ₹ As at March 31, 2022 (US dollars In Million) HZL BALCO Others Total Current assets 3,161 407 539 4,107 Non-current 2,629 1,458 2,001 6,088 Current liabilities 785 555 558 1,898 Non-current 448 220 1,070 1,738 Equity attributable to equity holders of the Parent 2,958 556 846 4,360 Non-controlling 1,599 534 124 2,257 For the Year Ended March 31, 2020 ( ₹ In Million) HZL BALCO Others Total Revenue 183,321 87,465 65,667 336,453 Expenses (115,651 ) (89,262 ) (74,126 ) (279,039 ) Profit/(Loss) for the year 67,670 (1,797 ) (8,459 ) 57,414 Profit/( L p 43,933 (916 ) (4,751 ) 38,266 Profit/( L non-controlling 23,737 (881 ) (3,708 ) 19,148 Profit/(Loss) for the year 67,670 (1,797 ) (8,459 ) 57,414 Other comprehensive (loss) income p (649 ) 19 (2,102 ) (2,732 ) Other comprehensive (loss) income non-controlling (351 ) 18 (947 ) (1,280 ) Other comprehensive (loss)/income during the year (1,000 ) 37 (3,049 ) (4,012 ) Total comprehensive income/(loss) attributable to the equity holders of the p 43,284 (897 ) (6,853 ) 35,534 Total comprehensive income/(loss) attributable to non-controlling 23,386 (863 ) (4,655 ) 17,868 Total comprehensive income/(loss) during the year 66,670 (1,760 ) (11,508 ) 53,402 Net cash inflow from operating activities 74,282 1,069 7,017 82,368 Net cash outflow from investing activities (36,247 ) (1,904 ) (6,204 ) (44,355 ) Net cash outflow from financing activities (19,276 ) (886 ) (4,186 ) (24,348 ) Net cash inflow/(outflow) 18,759 (1,721 ) (3,373 ) 13,665 For the Year Ended March 31, 2021 ( ₹ In Million) HZL BALCO Others Total Revenue 220,704 96,879 77,202 394,785 Expenses (141,492 ) (86,221 ) (43,423 ) (271,136 ) Profit for the year 79,212 10,658 33,779 123,649 Profit attributable to equity holders of the p 51,424 5,436 32,682 89,542 Profit attributable to non-controlling 27,788 5,222 1,097 34,107 Profit for the year 79,212 10,658 33,779 123,649 Other comprehensive (loss) income p (28 ) (235 ) 2,866 2,603 Other comprehensive (loss) income non-controlling (15 ) (225 ) 1,180 940 Other comprehensive (loss)/income during the year (43 ) (460 ) 4,046 3,543 Total comprehensive income p 51,396 5,201 35,548 92,145 Total comprehensive income non-controlling 27,773 4,997 2,277 35,047 Total comprehensive income during the year 79,169 10,198 37,825 127,192 Dividends paid/payable to non-controlling (56,029 ) — — (56,029 ) Net cash inflow from operating activities 191,094 13,996 12,708 217,798 Net cash outflow from investing activities (111,459 ) (3,083 ) (5,337 ) (119,879 ) Net cash outflow from financing activities (95,286 ) (11,463 ) (6,763 ) (113,512 ) Net cash (outflow)/inflow (15,651 ) (550 ) 608 (15,593 ) For the Year Ended March 31, 2022 ( ₹ In Million) HZL BALCO Others Total Revenue 287,896 136,070 115,584 539,550 Expenses (191,929 ) (109,491 ) (108,056 ) (409,476 ) Profit for the year 95,967 26,579 7,528 130,074 Profit attributable to equity holders of the parent 62,302 13,555 5,091 80,948 Profit non-controlling 33,665 13,024 2,437 49,126 Profit for the year 95,967 26,579 7,528 130,074 Other comprehensive (loss)/income attributable to the equity holders of the parent (366 ) (85 ) 1,373 922 Other comprehensive (loss) income non-controlling (198 ) (81 ) 707 428 Other comprehensive (loss)/income during the year (564 ) (166 ) 2,080 1,350 Total comprehensive income p 61,936 13,470 6,464 81,870 Total comprehensive income non-controlling 33,467 12,943 3,144 49,554 Total comprehensive income during the year 95,403 26,413 9,608 131,424 Dividends paid/payable to non-controlling (26,682 ) — — (26,682 ) Net cash inflow from operating activities 130,116 36,602 26,683 193,401 Net cash outflow from investing activities (874 ) (1,610 ) (21,947 ) (24,431 ) Net cash outflow from financing activities (116,452 ) (31,714 ) (2,511 ) (150,677 ) Net cash inflow 12,790 3,278 2,225 18,293 For the Year Ended March 31, 2022 (US dollars in million) HZL BALCO Others Total Revenue 3,795 1,793 1,523 7,111 Expenses (2,530 ) (1,443 ) (1,423 ) (5,396 ) Profit for the year 1,265 350 100 1,715 Profit attributable to equity holders of the Parent 821 179 67 1,067 Profit attributable to non-controlling 444 171 33 648 Profit for the year 1,265 350 100 1,715 Other comprehensive (loss)/income attributable to the equity holders of the Parent (5 ) (1 ) 18 12 Other comprehensive (loss) income non-controlling (3 ) (1 ) 10 6 Other comprehensive (loss)/income during the year (8 ) (2 ) 28 18 Total comprehensive income attributable to the equity holders of the Parent 816 178 85 1,079 Total comprehensive income attributable to non-controlling 441 171 41 653 Total comprehensive income during the year 1,257 349 126 1,732 Dividends paid/payable to non-controlling (352 ) — — (352 ) Net cash inflow from operating activities 1,715 482 352 2,549 Net cash outflow from investing activities (12 ) (21 ) (289 ) (322 ) Net cash outflow from financing activities (1,535 ) (418 ) (33 ) (1,986 ) Net cash inflow 168 43 30 241 The effect of changes in ownership interests in subsidiaries that did not result in a loss of control is as follows: For the Year Ended March 31, 2020 ( ₹ In Million) HZL BALCO Others Total Changes in NCI — — (2,342 ) (2,342 ) For the Year Ended March 31, 2021 ( ₹ In Million) HZL BALCO Others Total Changes in NCI — — — — For the Year Ended March 31, 2022 ( ₹ In Million) HZL BALCO Others Total Changes in NCI — — — — For the Year Ended March 31, 2022 (US Dollars In Million) HZL BALCO Others Total Changes in NCI — — — — |
Capital management
Capital management | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Capital management | 32. Capital management The Group’s objectives when managing capital is to safeguard continuity, maintain a strong credit rating and healthy capital ratios in order to support its business and provide adequate return to shareholders through continuing growth. The Group’s overall strategy remains unchanged from the The Group sets the amount of capital required on the basis of annual business and long-term operating plans which include capital and other strategic investments. The funding requirements are met through a mixture of equity, internal fund generation and other borrowings. The Group’s policy is to use current and non-current The Group monitors capital on the basis of the net gearing ratio which is Net debt / Total Capital (equity + net debt). The Group is not subject to any externally imposed capital requirements. Net debt is non-current The following table summarizes the capital of the Group: As at March 31, 2021 2022 2022 ( ₹ in million) ( ₹ in million) (US dollars in million) Equity 734,049 807,122 10,637 Cash and cash equivalentsa 48,537 86,709 1,143 Short term investmentsa 276,494 233,755 3,081 Non-current b 1,107 2,017 27 Total cash (a) 326,138 322,481 4,251 Current borrowings (Note 22) 189,600 168,944 2,227 Non-current 379,622 362,023 4,772 Total debt (b) 569,222 530,967 6,999 Net debt (c=(b-a)) 243,084 208,486 2,748 Total capital (equity+net debt) (d) 977,133 1,015,608 13,385 Gearing ratio (c/d) 0.2 0.2 0.2 a) The constituents of ‘total cash’ for the purpose of capital management disclosure includes only those amounts of restricted funds that are corresponding to liabilities (e.g., margin money deposits). Consequently ₹ ₹ 6,900 N 17, 20 b) Additionally, Non-current ₹ ₹ , |
Commitments, guarantees, contin
Commitments, guarantees, contingencies and other disclosures | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Commitments, guarantees, contingencies and other disclosures | 33. Commitments, guarantees, contingencies and other disclosures In the normal course of business, the Group enters into certain capital commitments and also gives certain financial guarantees. A. Capital commitments The Group has a number of continuing operational and financial commitments in the normal course of business including: • Exploratory mining commitments; • Oil & gas commitments; • Mining commitments arising under production sharing agreements; and • Completion of the construction of certain assets. Estimated amount of contracts remaining to be executed on capital accounts and not provided for: As at, March 31, March 31, March 31, ( ₹ in million) ( ₹ in million) (US dollars Oil & Gas sector Cairn Oil & Gas 15,547 21,690 286 Aluminium sector Lanjigarh Refinery (Phase II) 11,877 28,605 377 Jharsuguda 1.25 MTPA smelter 4,630 15,770 208 BALCO smelter expansion from 0.57 MTPA to 1 MTPA — 46,427 612 Zinc sector Zinc India (mines expansion, solar and smelter) 3,625 5,070 67 Gamsberg mining & milling project 938 2,064 27 Copper sector Tuticorin Smelter 400 KTPA* 29,951 30,514 402 Others 18,722 38,429 506 Total 85,290 188,569 2,485 * currently contracts are under suspension under the force majeure clause as per the contract Committed work programme (Other than capital commitment): As at, March 31, March 31, March 31, ( ₹ in million) ( ₹ in million) (US dollars Oil & Gas sector Cairn Oil and Gas (OALP - Oil and Gas blocks) 56,254 56,149 740 Other Commitments (i) The Power Division of the Group has signed a long term power purchase agreement (PPA) with GRIDCO Limited for supply of 25% of power generated from the power station with additional right to purchase power at (5%/7%) at variable cost as per the conditions referred to in PPA. The PPA has a tenure of twenty five years, expiring in FY 2037. The Group received favorable order from OERC dated October 5, 2021 for conversion of this power station from Independent Power Plant (“IPP”) to Captive Power Plant (“CPP”) w.e.f from January 1, 2022 subject to certain terms and conditions. However, OERC vide order dated February 19, 2022 directed the Company to supply power to GRIDCO from February 19, 2022 onwards. Thereafter, the Company has resumed supplying power to GRIDCO as per their requisition of power. (ii) TSPL has signed a long term power purchase agreement (PPA) with Punjab State Power Corporation Limited (PSPCL) for supply of power generated from the power plant. The PPA has tenure of twenty five years, expiring in FY 2042. B. Guarantees The aggregate amount of indemnities and other guarantees on which the Group does not expect any material losses, was ₹ ₹ , The Group has given guarantees in the normal course of business as stated below: • Guarantees and bonds advanced to the customs authorities in India of ₹ ₹ million) as at March 31, 2021 and March 31, 2022, respectively, relating to the export and payment of import duties on purchases of raw material and capital goods. • Guarantees issued for Group’s share of minimum work programme commitments of ₹ ₹ , • Guarantees of ₹ ₹ • Bank guarantees of ₹ million million) outstanding as at March 31, 2021 and March 31, 2022 has been provided by the Group on behalf of Volcan Investments Limited to Income tax department, India as a collateral in respect of certain tax disputes. • Other guarantees of ₹ ₹ million) as at March 31, 2021 and March 31, 2022, respectively, issued for securing supplies of materials and services, in lieu of advances received from customers, litigation, for provisional valuation of custom duty and also to various agencies, suppliers and government authorities for various purposes. The Group does not anticipate any liability on these guarantees. C. Export Obligations The Indian entities of the Group have export obligations of ₹ ₹ million) as at March 31, 2021 and March 31, 2022, respectively, on account of concessional rates of import duty paid on capital goods under the Export Promotion Capital Goods Scheme and under the Advance License Scheme for the import of raw material laid down by the Government of India. In the event of the Group’s inability to meet its obligations, the Group’s liability would be ₹ ₹ million) as at March 31, 2021 and March 31, 2022, respectively, plus applicable interest. The Group has given bonds of ₹ ₹ The Group discloses the following legal and tax cases as liabilities. Hindustan Zinc Limited: Department of Mines and Geology The Department of Mines and Geology of the State of Rajasthan issued several show cause notices to HZL in August, September and October 2006, aggregating to ₹ ₹ Ravva Joint Operations arbitration proceedings The Ravva Production Sharing Contract (PSC) obliges the contractor parties to pay a proportionate share of ONGC’s exploration, development, production and contract costs in consideration for ONGC’s payment of costs related to the construction and other activities it conducted in Ravva prior to the effective date of the Ravva PSC (the ONGC Carry). The question as to how the ONGC Carry is to be recovered and calculated, along with other issues, was submitted to an International Arbitration Tribunal in August 2002 which rendered a decision on the ONGC Carry in favour of the contractor parties (including Vedanta Limited (Cairn India Limited which subsequently merged with Vedanta Limited, accordingly now referred to as Vedanta Limited)) whereas four other issues were decided in favour of Government of India (GOI) in October 2004 (Partial Award). The GOI then proceeded to challenge the ONGC Carry decision before the Malaysian courts, as Kuala Lumpur was the seat of the arbitration. The Federal Court of Malaysia upheld the Partial Award. As the Partial Award did not quantify the sums, therefore, contractor parties approached the same Arbitration Tribunal to pass a Final Award in the subject matter since it had retained the jurisdiction to do so. The Arbitral Tribunal was reconstituted and the Final Award was passed in October 2016 in Vedanta Limited’s favour. GOI’s challenge of the Final Award has been dismissed by the Malaysian High Court and the next appellate court in Malaysia, i.e., Malaysian Court of Appeal. GOI then filed an appeal at Federal Court of Malaysia. The matter was heard on February 28, 2019 and the Federal Court dismissed GOI’s leave to appeal. The Company has also filed for the enforcement of the Partial Award and Final Award before the Hon’ble Delhi High Court. Currently, the matter is being heard. While the Group does not believe the GOI will be successful in its challenge, if the Arbitral Awards in above matters are reversed and such reversals are binding, the Company would be liable for approximately ₹ ₹ Proceedings related to the Imposition of Entry Tax Vedanta Limited and other Group companies, i.e., Bharat Aluminium Company Limited (BALCO) and Hindustan Zinc Limited (HZL) challenged the constitutional validity of the local statutes and related notifications in the states of Chhattisgarh, Odisha and Rajasthan pertaining to the levy of entry tax on the entry of goods brought into the respective states from outside. Post some contradictory orders of High Courts across India adjudicating on similar challenges, the Supreme Court referred the matters to a nine judge bench. Post a detailed hearing, although the bench rejected the compensatory nature of tax as a ground of challenge, it maintained status quo with respect to all other issues which have been left open for adjudication by regular benches hearing the matters. Following the order of the nine judge bench, the regular bench of the Supreme Court heard the matters. The regular bench remanded the entry tax matters relating to the issue of discrimination against domestic goods bought from other States to the respective High Courts for final determination but retained the issue of jurisdiction for levy on imported goods, for determination by the regular bench of the Supreme Court. Following the order of the Supreme Court, the Group filed writ petitions in respective High Courts. On October 9, 2017, the Supreme Court has held that states have the jurisdiction to levy entry tax on imported goods. With this Supreme Court judgement, imported goods will rank pari passu with domestic goods for the purpose of levy of Entry tax. Vedanta Limited and its subsidiaries have amended their appeals (writ petitions) in Odisha and Chhattisgarh to include imported goods as well. The issue pertaining to the levy of entry tax on the movement of goods into a Special Economic Zone (SEZ) remains pending before the Odisha High Court. The Group has challenged the levy of entry tax on any movement of goods into SEZ based on the definition of ‘local area’ under the Odisha Entry Tax Act which is very clear and does not include a SEZ. In addition, the Government of Odisha further through its SEZ Policy 2015 and the operational guidelines for administration of this policy dated August 22, 2016, exempted the entry tax levy on SEZ operations. During the current period, HZL has, under an Amnesty Scheme, settled the entry tax matter by making a payment of ₹ ₹ The total claims including interest and penalty against Vedanta Limited and its subsidiaries (net of provisions made) are ₹ million and ₹ million ($ million) as at March 31, 2021 and March 31, 2022 respectively. Consequential interest after the date of order amounts to ₹ million and ₹ million ($ million) as at March 31, 2021 and March 31, 2022 respectively. BALCO: Challenge against imposition of Energy Development Cess BALCO challenged the imposition of Energy Development Cess levied on generators and distributors of electrical energy at 10 paise per unit on the electrical energy sold or supplied before the High Court on the grounds that the Cess is effectively on production and not on consumption or sale since the figures of consumption are not taken into account and the Cess is discriminatory since captive power plants are required to pay at the rate of 10 paise while the State Electricity Board is required to pay at 5 paise. The High Court of Chhattisgarh by order dated December 15, 2006 declared the provisions imposing ED Cess on CPPs as discriminatory and therefore ultra vires the Constitution. BALCO has sought refund of Cess paid till March 2006 amounting to ₹ The State of Chhattisgarh moved a Special Leave Petition in the Honorable Supreme Court (the SC) and the SC whilst issuing notice has stayed the refund of the Cess already deposited and the Supreme Court has also directed the State of Chhattisgarh to raise the bills but no coercive action be taken for recovery of the same. Final argument in this matter started before the Supreme Court. In case the Supreme Court overturns the decision of the High Court, the Group would be liable to pay an additional amount of ₹ ₹ was ₹ ₹ BALCO: Electricity Duty The Group operates a 1,200 MW power plant (“the Plant”) which commenced production in July 2015. Based on the Memorandum of Understanding signed between the Group and the Chhattisgarh State Government, the management believes that the Plant is covered under the Chhattisgarh Industrial policy 2004-09 ₹ ₹ The Group carries an accrual for electricity duty of ₹ ₹ ₹ ₹ ₹ Miscellaneous disputes- Income tax The Group is involved in various tax disputes amounting to ₹ ₹ million) as at March 31, 2021 and March 31, 2022, respectively, relating to income tax. It also includes similar matters where initial assessment is pending for subsequent periods and where the Group has made claims and assessments are in progress. These mainly relate to the disallowances of tax holidays and depreciation under the Income-tax Act, 1961 and interest thereon which are pending at various appellate levels. Penalties, if any, may be additional. Based on detailed evaluations and supported by external legal advice, where necessary, the Group believes that it has strong merits and no material adverse impact on the results of operations, cash flows or the financial position of the Group is expected. Miscellaneous disputes- Others The Group is subject to various claims and exposures which arise in the ordinary course of its operations, from indirect tax authorities and others, pertaining to the assessable values of sales and purchases or incomplete documentation supporting the Company’s returns or other claims. The approximate value of claims (excluding the items as set out separately above) against the Group companies ₹ ₹ million) as at March 31, 2021 and March 31, 2022, respectively. Based on evaluations of the matters and legal advice obtained, the Group believes that it has strong merits and no material adverse impact on the results of operations, cash flows or financial position of the Group is expected. Accordingly, no provision is considered at this stage. Except as described above, there are no pending litigations which the Group believes could reasonably be expected to have a material adverse effect on the results of operations, cash flows or the financial position of the Group. |
Interest in Other entities
Interest in Other entities | 12 Months Ended |
Mar. 31, 2022 | |
Investments accounted for using equity method [abstract] | |
Interest in Other entities | 34. Interest in Other entities a) Subsidiarie s The Group’s subsidiaries as at March 31, 2022 are Subsidiaries Principal activities Country of Immediate holding The The Cairn Energy India Pty Limited 1 Exploration for and development and production of oil & gas Australia Cairn India Holdings Limited — — Copper Mines of Tasmania Pty Limited Copper Mining Australia Monte Cello BV 100 100 Thalanga Copper Mines Pty Limited (“TCM”) Copper Mining Australia Monte Cello BV 100 100 Bharat Aluminium Company Limited (“BALCO”) Aluminium mining and smelting India Vedanta Limited 51 51 Desai Cement Company Private Limited a Cement India Sesa Mining Corporation Limited — 100 ESL Steel Limited Manufacturing of Steel & DI Pipe India Vedanta Limited 95.49 95.49 Facor Reality and Infrastructure Limited b Real estate India FACOR 100 100 FACOR Power Ltd 3 Power Generation India FACOR 90 90 Ferro Alloy Corporation Limited (FACOR) 3 Manufacturing of Ferro Alloys and Mining India Vedanta Limited 100 100 Goa Sea Port Private Limited 4 Infrastructure India Sterlite Ports Limited 100 100 Hindustan Zinc Alloys Private Limited c Zinc Mining & Smelting India Hindustan Zinc Limited — 64.92 Hindustan Zinc Limited (“HZL”) Zinc Mining & Smelting India Vedanta Limited 64.92 64.92 MALCO Energy Limited (“MEL”) Power Generation India Vedanta Limited 100 100 Maritime Ventures Private Limited 4 Infrastructure India Sterlite Ports Limited 100 100 Paradip Multi Cargo Berth Private Limited 4 Infrastructure India Vedanta Limited 100 100 Sesa Mining Corporation Limited 4 Iron ore mining India Sesa Resources Limited 100 100 Sesa Resources Limited (“SRL”) Iron ore mining India Vedanta Limited 100 100 Sterlite Ports Limited 4 Infrastructure India Vedanta Limited 100 100 Talwandi Sabo Power Limited (“TSPL”) Power Generation India Vedanta Limited 100 100 Vedanta Zinc Football & Sports Foundation j Sports Foundation India Hindustan Zinc Limited — 64.92 Vizag General Cargo Berth Private Limited Infrastructure India Vedanta Limited 100 100 AvanStrate Inc. (‘ASI’) Manufacturing of LCD Glass Substrate Japan Cairn India Holdings Limited 51.63 51.63 Cairn India Holdings Limited Investment company Jersey Vedanta Limited 100 100 AvanStrate Korea Inc Manufacturing of LCD Glass Substrate Korea Avanstrate (Japan) Inc. 100 100 Western Cluster Limited Iron ore mining Liberia Bloom Fountain Limited 100 100 Bloom Fountain Limited Investment Company Mauritius Vedanta Limited 100 100 CIG Mauritius Holdings Private Limited d Investment Company Mauritius Cairn Energy Hydrocarbons Ltd. 100 100 Subsidiaries Principal activities Country of Immediate holding The The CIG Mauritius Private Limite d d Investment Holding Company and to provide services and resources relevant to oil & gas exploration, production and development Mauritius CIG Mauritius Holding Private Ltd. 100 100 THL Zinc Ltd Investment Company Mauritius THL Zinc Ventures Limited 100 100 THL Zinc Ventures Limited Investment Company Mauritius Vedanta Limited 100 100 Amica Guesthouse (Proprietary) Limited Accomodation and catering services Nambia Skorpion Zinc 100 100 Namzinc (Proprietary) Limited Owns and operates a zinc refinery Nambia Skorpion Zinc 100 100 Skorpion Mining Company (Proprietary) Limited (‘NZ’) Exploration, Nambia Skorpion Zinc 100 100 Skorpion Zinc (Proprietary) Limited (‘SZPL’) Operating (zinc) and investing company Nambia THL Zinc Namibia 100 100 THL Zinc Namibia Holdings (Proprietary) Limited (“VNHL”) Mining and Nambia THL Zinc Ltd 100 100 Killoran Lisheen Finance Limited e Investment company Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Killoran Lisheen Mining Limited Development of a zinc/lead mine Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Lisheen Milling Limited Manufacturingh Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Lisheen Mine Partnership Development and Republic of Ireland 50% each held by 100 100 Vedanta Exploration Ireland Limited e Exploration activities Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Vedanta Lisheen Mining Limited Zinc and lead mining Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Cairn Energy Discovery Limited 1 Oil and gas exploration, development and production Scotland Cairn India Holdings Limited — — Cairn Energy Gujarat Block 1 Limited Oil and gas exploration, development and production Scotland Cairn India Holdings Limited 100 100 Cairn Energy Hydrocarbons Limited Oil and gas Scotlandf Cairn India Holdings Limited 100 100 Cairn Exploration (No. 2) Limited 1 Oil and gas exploration, development and production Scotland Cairn India Holdings Limited — — Black Mountain Mining (Proprietary) Limited Exploration, South Africa THL Zinc Ltd 74 74 Subsidiaries Principal activities Country of Immediate holding The The Cairn South Africa Pty Limited g Oil and gas exploration, development and production South Africa Cairn Energy Hydrocarbons Ltd. 100 — Cairn Lanka Private Limited Oil and gas exploration, development and production Sri Lanka CIG Mauritius Private Ltd. 100 100 AvanStrate Taiwan Inc Manufacturing of LCD Glass Substrate Taiwan Avanstrate (Japan) Inc. 100 100 Lakomasko BV Investment company The Netherlands THL Zinc Holding BV 100 100 Monte Cello BV (“MCBV”) Holding company The Netherlands Vedanta Limited 100 100 THL Zinc Holding BV Investment company The Netherlands Vedanta Limited 100 100 Vedanta Lisheen Holdings Limited Investment company The Netherlands THL Zinc Holding BV 100 100 Fujairah Gold FZC Manufacturing of United Arab Emirates Malco Energy Limited 100 100 Sterlite (USA) Inc. i Investment company United States of America Vedanta Limited 100 — (a) Acquired on November 15, 2021 (b) Passed a resolution for dissolving on March 8, 2022 (c) Incorporated on November 17, 2021 (d) Under Liquidation (e) Dissolved on June 9 (f) Principal place of business is in India (g) Cairn South Africa Pty Limited has been deregistered w.e.f. April 6, 2021 . (h) Activity of the company ceased in February 2016 (i) Liquidated on December 20, 2021 (j) Incorporated on December 21, 2021 1. Cairn Exploration (No. 2) Limited and Cairn Energy Discovery Limited have been dissolved w.e.f. September 22, 2020. Cairn Energy India (Pty) Ltd. was deregistered on August 26, 2020. 2. The Group also has interest in certain trusts which are neither significant nor material to the Group. 3. The Group has filed an application at NCLT Cuttack on September 16, 2021 for the merger of Ferro Alloy Corporation Limited (“FACOR”) and FACOR Power Limited. 4. The Group has filed an application at Mumbai NCLT on September 25, 2021 and at Chennai NCLT on September 29, 2021 for the merger of Maritime Ventures Private Limited, Sterlite Ports Limited, Paradip Multi Cargo Berth Private Limited, Goa Sea Port Private Limited with Sesa Mining Corporation Limited. b) Joint Operations The Group participates in several unincorporated joint operations which involve the joint control of assets used in oil and gas exploration and producing activities which are as follows: Participating Operating Blocks Area As at March 31, As at March 31, India: Ravva block – Exploration and production Krishna Godavari 22.50 22.50 CB-OS/2 Cambay Offshore 60 60 CB-OS/2 Cambay Offshore 40 40 RJ-ON-90/1 Rajasthan Onshore 100 100 RJ-ON-90/1 Rajasthan Onshore 70 70 KG-OSN-2009/3 Krishna Godavari Offshore 100 100 Non-Operating India: KG-ONN-2003/1 Krishna Godavari Onshore 49 49 |
Related party transactions
Related party transactions | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Related party transactions | 35. Related party transactions List of related parties and relationships – A) Entities Controlling the Company (Holding Companies) • Volcan Investments Limited (‘Volcan’) • Volcan Investments Cyprus Limited Intermediate Holding Companies • Vedanta Resources Limited (VRL) • Vedanta Resources Holdings Limited (a) • Twin Star Holdings Limited (a) • Finsider International Company Limited (a) • Westglobe Limited (a) • Welter Trading Limited (a) • Richter Holdings Limited (a) • Vedanta Resources Finance Limited (a) • Vedanta Resources Cyprus Limited (a) • Vedanta Holdings Mauritius II Limited ( a • Vedanta Holdings Jersey Limited (a) • Vedanta Holdings Mauritius Limited (a) • Vedanta UK Investments Limited (a) • Vedanta Netherlands Investments BV (a) B) Fellow subsidiaries (with whom transactions have taken place) • Sterlite Technologies Limited • Sterlite Power Transmission Limited • Sterlite Iron and Steel Company Limited • Sterlite Power Grid Ventures Limited • Twin Star Technologies Limited C) Post Retirement Benefit Plan • Balco Employees Provident Fund Trust • Hindustan Zinc Ltd Employees Contributory Provident Fund Trust • Sesa Group Employees Provident Fund • Sesa Mining Corporation Limited Employees Provident Fund Trust • Sesa Resources Limited Employees Provident Fund Trust • HZL Employee Group Gratuity Trust • Sesa Group Employees Gratuity Fund and Sesa Group Executives Gratuity Fund • Sesa Resources Limited Employees Gratuity Fund • Sesa Mining Corporation Limited Employees Gratuity Fund • HZL Superannuation Trust • Sesa Group Executives Superannuation scheme Fund • Sesa Resources Limited and Sesa Mining Corporation Limited Employees Superannuation Fund • FACOR Superannuation Trust (b) • FACOR Employees Gratuity Scheme (b) D) Associates and Joint Ventures (with whom transactions have taken place) • RoshSkor Township (Pty) Ltd • Goa Maritime Private Limited • Gaurav Overseas Private Limited E) Other Related Parties (with whom transactions have taken place) Enterprises over which key management personnel/their relatives have control or significant influence • Vedanta Medical Research Foundation • Vedanta Foundation • Cairn Foundation • Sesa Community Development Foundation • Janhit Electoral Trust • Fujairah Gold Ghana • Runaya Refining LLP • Minova Runaya Private Limited • Fujairah Metals LLC • Caitlyn India Private Limited (a) These entities are subsidiary companies of VRL and VRL through its subsidiaries holds 69.68% in Vedanta Limited. (b) Acquired during the year ended March 31, 2021. Ultimate controlling party Vedanta Limited is a majority-owned and controlled subsidiary of Vedanta Resources Limited (‘VRL’). Volcan Investments Limited (‘Volcan’) and its wholly owned subsidiary together hold 100 % of the share capital and 100 % of the voting rights of VRL. Volcan is 100 % beneficially owned and controlled by the Anil Agarwal Discretionary Trust (‘Trust’). Volcan Investments Limited, Volcan Investments Cyprus Limited and other intermediate holding companies (except VRL) do not produce Group financial statements. A summary of significant related party transactions for the year ended March 31, 2020, March 31, 2021 and March 31, 2022 are noted below: For the Year ended March 31, 2020 Entities controlling Associates/ Joint Ventures Others Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) Income: (i) Sales 8,554 — 22 8,576 (ii) Other Income a) Interest income /guarantee commission (Refer Note 35(c)) 423 — — 423 b) Outsourcing Service Income 30 — — 30 c) Dividend Income 17 — 39 56 Expenditure and other transactions: (i) Purchases of goods/services 581 — 67 648 (ii) Long Term Incentive Plan (Recovery) (4 ) — (2 ) (6 ) (iii) Management and brand fees expenses 5,257 — — 5,257 (iv) Reimbursement of other expenses (net of recovery) 479 — 1 480 (v) Corporate Social Responsibility Expenditure / donation — — 1,110 1,110 (vi) Contribution to Post retirement employee benefit trust — — 1,117 1,117 (vii) Remuneration to relative of Key Management Personnel (“KMP”) — — 169 169 (viii) Commission/Sitting Fees -To Independent directors — — 42 42 -To KMP — — 40 40 -To relatives of KMP — — 3 3 (ix) Dividend paid. -To Holding companies 7,267 — — 7,267 -To KMP — — 0 0 -To relatives of KMP — — 1 1 Transactions during the year: (i) Loans given / (repaid) 0 (3 ) — (3 ) (ii) Financial guarantee given — — 2 2 (iii) Financial guarantee relinquished — — 255 255 (iv) Investment made/(redeemed) (Refer Note 35 (f)) (44,847 ) — — (44,847 ) For the Year ended March 31, 2021 Entities controlling Associates/ Joint Ventures Others Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) Income: (i) Sales 7,357 — 37 7,394 (ii) Other Income a) Interest income /guarantee commission (Refer Note 35 (b)) 6,697 — — 6,697 b) Outsourcing Service Income 36 — — 36 c) Dividend Income 17 — — 17 Expenditure and other transactions: (i) Purchases of goods/services 760 — 546 1,306 (ii) Long Term Incentive Plan (Recovery) — — — — (iii) Management and brand fees expenses (Refer Note 35 (e)) 9,855 — — 9,855 (iv) Reimbursement of other expenses (net of recovery) 904 — (1 ) 903 (v) Corporate Social Responsibility Expenditure / donation — — 629 629 (vi) Contribution to Post retirement employee benefit trust — — 585 585 (vii) Remuneration to relative of KMP — — 127 127 (viii) Commission/Sitting Fees -To Independent directors — — 35 35 -To KMP — — 15 15 -To relatives of KMP — — 3 3 (ix) Dividend paid. -To Holding companies 17,703 — — 17,703 -To KMP — — 0 0 -To relatives of KMP — — 2 2 (x) Guarantee Commission Expense. (Refer Note 35 (a)) 1,332 — — 1,332 Transactions during the year: (i) Loans given (Net of repayment of ₹ 71,654 — — 71,654 (ii) Financial guarantee given 31,468 — — 31,468 (iii) Financial guarantee relinquished 31,458 — 115 31,573 As at March 31, 2021 Entities controlling Associates/ Others Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) Balances as at year end: (i) Trade Receivables 466 — — 466 (ii) Loans (Refer Note 35 (b), 35(g)) 70,663 49 — 70,712 (iii) Receivable from (Including brand fee prepaid) (Refer Note 35 (a, 9,271 10 23 9,304 (iv) Trade Payables 973 — 215 1,188 (v) Payable to (Including brand fee payable) (Refer N 2,078 — 866 2,943 (vi) Guarantees outstanding given 10 — 47 57 (vii) Banking Limits assigned/utilised/renewed to/for group companies (Refer Note 35 (d)) 1,150 — — 1,150 (viii) Remuneration, Commission and consultancy fees payable to KMP and their relatives — — 61 61 For the Year ended March 31, 2022 Entities controlling Associates/ Joint Ventures Others Total Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) (US dollars in million) Income: (i) Sales 13,947 — 590 14,537 192 (ii) Other Income a) Interest income /guarantee commission (Refer Note 35 (b)) 7,210 — — 7,210 95 b) Outsourcing Service Income 36 — — 36 0 c) Dividend income 15 — — 15 0 d) Miscellaneous income — — 11 11 0 Expenditure and other transactions: (i) Purchases of goods/services 746 — 1,647 2,393 32 (ii) Long Term Incentive Plan (Recovery) — — — — — (iii) Management and brand fees expenses (Refer Note 35 (e)) 16,168 — — 16,168 213 (iv) Reimbursement of other expenses (net of recovery) 133 — 1 134 2 (v) Corporate Social Responsibility Expenditure / donation — — 451 451 6 (vi) Contribution to post retirement employee benefit trust — — 1,135 1,135 15 (vii) Remuneration to relative of KMP — — 228 228 3 (viii) Commission/Sitting Fees -To Independent directors — — 44 44 1 -To KMP — — 16 16 0 -To relatives of KMP — — 3 3 0 (ix) Dividend paid. -To Holding companies 113,460 — — 113,460 1,495 -To KMP — — 1 1 0 -To relatives of KMP — — 9 9 0 (x) Interest and guarantee commission expense. (Refer Note 35 (a)) 1,470 — — 1,470 19 Transactions during the year: (i) Loans given / (repayment thereof) (Refer Note 35 (b)) (16,227 ) — — (16,227 ) (214 ) (ii) Financial guarantee relinquished 10 — 43 53 1 (iii) Investment purchased/(redeemed) during the year — 1 — 1 0 (iv) Loan taken / (repayment thereof) (3 ) — — (3 ) (0 ) As at March 31, 2022 Entities controlling Associates/ Others Total Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) (US dollars in million) Balances as at year end: (i) Trade Receivables 128 — 47 175 2 (ii) Loans (Refer Note 35 (b), 35(g)) 54,571 52 — 54,623 720 (iii) Receivable from (Including brand fee prepaid) (Refer Note 35 (a, 2,943 99 23 3,065 40 (iv) Trade Payables 670 — 307 977 13 (v) Payable to (Including brand fee payable) (Refer N 1,678 — 381 2,059 27 (vi) Guarantees outstanding given — — 4 4 0 (vii) Banking Limits assigned/utilised/renewed to/for group companies (Refer Note 35 (d)) 1,150 — — 1,150 15 (viii) Sitting fee, Remuneration, Commission — — 81 81 1 Remuneration of key management personnel The remuneration of the key management personnel of the Group are set out below in aggregate for each of the categories specified in IAS 24 (Related party disclosures) Year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Short term employee benefits 396 * 277 340 5 Post-employment benefits** 79 10 10 0 Share based payments 12 2 10 0 Total 487 289 360 5 * This includes reimbursement to the parent company for remuneration paid to the then CEO and Whole Time Director of the Company aggregating to ₹ ($ ** Does not include the provision made for gratuity and leave benefits, as they are determined on an actuarial basis for all the employees together. a) RJ-ON-90/1, During the year ended March 31, 2021, the Board of Directors of the Company approved a consideration to be paid for this guarantee at an annual charge of 1.2% of net exploration and development spend, subject to a minimum annual fee of ₹ CEHL. Similarly, VRL has also provided financial and performance guarantee to the Government of India for the Company’s obligations under the Revenue Sharing Contract (‘RSC’) in respect of 51 Blocks awarded under the Open Acreage Licensing Policy (“OALP”) by the Government of India. During the year ended March 31, 2021, the Board of Directors of the Company approved a consideration to be paid for this guarantee consisting of one-time ₹ approximately ₹ ₹ ₹ Accordingly, the Group has recorded a guarantee commission expense of ₹ ₹ ₹ ₹ ₹ pre-payment b) Thereafter, in March 2021, since the credit default swap rates had stabilized, the Group revised the interest rate to 9.6% using a level 2 valuation approach by applying the prevailing US Dollar treasury rates and the company specific credit default swaps. The Group also benchmarked the said rate to the coupon rate on bonds issued to non-related ₹ During the year ended March 31, 2022, the VRL group has repaid ₹ ₹ As of March 31, 2021 and March 31, 2022, loans having contractual value of ₹ ₹ , c) 1, ₹ ($ million), which have maturities ranging from to at coupon ranging from % to % p.a. During the previous year, investments have been disposed off in open market for a consideration of ₹ million ($ million). d) e) re-negotiated ₹ ₹ ₹ million) for the years ended March 31, 2020, March 31, 2021 and March 31, 2022, respectively. During the current year, the agreement was renewed to extend for further period of fifteen years. The Group pays such fee in advance, at the start of the year based on estimated annual turnover. f) ₹ ₹ ₹ g) of ₹ million and ₹ million and Twin Star Holding Limited of ₹ million and ₹ 730 million as at March 31, 2020 and March 31, 2021 , respectively, including accrued interest of ₹ million has been provided for during the year ended March 31, 2021. h) ₹ ($ ₹ million) for 26% stake in Serentica 3 and Serentica 1, respectively, for procuring renewable power over Projects. Subsequent to balance sheet date ₹ |
Subsequent Events
Subsequent Events | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Subsequent Events | 36. Subsequent Events a) Subsequent to the balance sheet date, the Company acquired controlling stake in Athena Chhattisgarh Power Limited (“ACPL”) under the liquidation proceeding of the Insolvency and Bankruptcy Code 2016 for a consideration of ₹ ACPL is building a W (2 Units*600MW) coal-based power plant located at Jhanjgir Champa district, Chhattisgarh. The plant is expected to fulfill the power requirement for the Company’s aluminum business. b) Subsequent to the balance sheet date, in oil and gas business, the GoI, vide its notification no. 05/2022 dated June 30, 2022 has levied Special Additional Excise Duty (SAED) of ₹ per barrel) on crude oil with effect from July 1, 2022, which has been revised to ₹ per barrel) with effect from July 20, 2022. The SAED rate is expected to be revised every fortnight. This is in the nature of cess on windfall gain triggered by increase in crude oil prices over last few months. The Company is also engaging with the Government on this levy, within the framework of contractual agreements of PSC and RSC executed with the GoI. The Company has performed sensitivity analysis to assess the impact of the above SAED on the fair value of assets in the oil and gas business which is determined basis the consensus of analyst recommendations of long term prices, discount rates, production quantity etc. Based on the results of such analysis, management believes that no adjustment to the carrying value of asset is required at this stage. There are no other material adjusting or non-adjusting |
Other matters
Other matters | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Other matters | 37. Other matters (a) i. Call option — HZL Pursuant to the Government of India’s policy of disinvestment, the Group in April 2002 acquired 26% equity interest in HZL from the Government of India. Under the terms of the Shareholder’s Agreement (‘SHA’), the Group had two call options to purchase all of the Government of India’s shares in HZL at fair market value. The Group exercised the first call option on August 29, 2003 and acquired an additional 18.9% of HZL’s issued share capital. The Group also acquired an additional 20% of the equity capital in HZL through an open offer, increasing its shareholding to 64.9%. The second call option provides the Group the right to acquire the Government of India’s remaining 29.5% share in HZL. This call option was subject to the right of the Government of India to sell 3.5% of HZL shares to HZL employees. The Group exercised the second call option on July 21, 2009. The Government of India disputed the validity of the call option and refused to act upon the second call option. Consequently, the Group invoked arbitration which is in the early stages. The next date of hearing is to be notified. The Government of India without prejudice to the position on the Put / Call option issue has received approval from the Cabinet for divestment and the Government is looking to divest through the auction route. Meanwhile, the Supreme Court had, in January 2016, directed status quo pertaining to disinvestment of Government of India’s residual shareholding in a public interest petition filed. On August 13, 2020, the Supreme Court passed an order partially removing the status quo order in place and has allowed the arbitration proceedings to continue via its order passed on November 18, 2021. The Supreme Court of India allowed the GoI’s proposal to divest its entire stake in HZL in the open market in accordance with the rules and regulations of SEBI and also directed the Central Bureau of Investigation to register a regular case in relation to the process followed for the disinvestment of HZL in the year 2002 by the GoI. A review petition has been filed by the GoI against this direction by the Supreme Court. In line with said order, the Group has withdrawn its arbitration proceedings. ii. Call option — BALCO Pursuant to the Government of India’s policy of divestment, the Group in March 2001 acquired 51% equity interest in BALCO from the Government of India. Under the terms of the Shareholder’s Agreement (‘SHA’), the Group had a call option to purchase the Government of India’s remaining ownership interest in BALCO at any point from March 2, 2004. The Group exercised this option on March 19, 2004. However, the Government of India contested the valuation and validity of the option and contended that the clauses of the SHA violate the erstwhile Companies Act, 1956 by restricting the rights of the Government of India to transfer its shares and that as a result such provisions of the SHA were null and void. In the arbitration filed by the Group, the arbitral tribunal by a majority award rejected the claims of the Group on the ground that the clauses relating to the call option, the right of first refusal, the “tag along” rights and the restriction on the transfer of shares violate the erstwhile Companies Act, 1956 and are not enforceable. The Group has challenged the validity of the majority award before the Hon’ble High Court at Delhi and sought for setting aside the arbitration award to the extent that it holds these clauses ineffective and inoperative. The Government of India also filed an application before the High Court to partially set aside the arbitral award in respect of certain matters involving valuation. The matter is to be heard by the Delhi High Court in due course. Meanwhile, the Government of India without prejudice to its position on the Put / Call option issue has received approval from the Cabinet for divestment and the Government is looking to divest through the auction route. On January 9, 2012, the Group offered to acquire the Government of India’s interests in HZL and BALCO for $ 2,071 and $ 238 respectively. This offer was separate from the contested exercise of the call options, and Group proposed to withdraw the ongoing litigations in relation to the contested exercise of the options should the offer be accepted. To date, the offer has not been accepted by the Government of India and therefore, there is no certainty that the acquisition will proceed. In view of the lack of resolution on the options, the non-response (b) The Scheme of Amalgamation and Arrangement amongst Sterlite Energy Limited (‘SEL’), Sterlite Industries (India) Limited (‘Sterlite’), Vedanta Aluminium Limited (‘VAL’), Ekaterina Limited (‘Ekaterina’), Madras Aluminium Company Limited (‘Malco’) and the Group (the “Scheme”) had been sanctioned by the Honorable High Court of Madras and the Honorable High Court of Judicature of Bombay at Goa and was given effect to in the year ended March 31, 2014. Subsequently the above orders of the Honorable High Court of Bombay and Madras have been challenged by Commissioner of Income Tax, Goa and Ministry of Corporate Affairs through a Special Leave Petition before the Honorable Supreme Court and also by a creditor and a shareholder of the Group. The said petitions are currently pending for hearing. (c) The Group purchases bauxite under long term linkage arrangement with Orissa Mining Corporation Ltd (hereafter referred as OMC) at provisional prices of ₹ The last successful e-auction ₹ September September e-auctions. e-auction ₹ ₹ ₹ The Group had then filed a writ petition before Hon’ble High Court of Odisha in September 2020, which issued an interim o ₹ OMC re-conducted the e-auction ₹ ₹ M 2021-22. High Court also Supported by legal opinions obtained, management believes that the provisions of Rule 45 are not applicable to commercial sale of bauxite ore and hence, it is not probable that the Group will have any financial obligation towards the aforesaid commitments over and above the price of ₹ e-auction. However, as an abundant precaution, the Group has recognized purchase of Bauxite from September 2019 onwards at the aforesaid rate of ₹ (d) The Department of Mines and Geology (DMG) of the State of Rajasthan initiated the royalty assessment process from Jan uar y ₹ . Further ₹ million). The Group has challenged the show cause notice and computation mechanism of the royalty itself, and the High Court has granted a stay on the notice and directed DMG not to take any coercive action. State Government has also been directed to not take any coercive action in order to recover such miscomputed dues. The Group has filed a revision application for these demands and the Revenue Authority has granted stay on any recovery related to demand of ₹ (e) Flue-gas Ministry of Environment, Forest and Climate Change (MoEFCC) has revised emission norms for coal-based power plants in India. Accordingly, both captive and independent coal-based power plants in India are required to comply with these revised norms for reduction of sulphur oxide (SOx) emissions for which the current plant infrastructure is to be modified or new equipment have to be installed. Timelines for compliance to the revised norm for various plants in the Group range from December 2023 to December 2024. Different power plants are at different stages of the implementation process. Ministry of Power issued notification dated July 2, 2020 to restrict imports from China. A chinese vendor has communicated their inability to execute the FGD project quoting aforementioned notification and prevailing COVID situation in India. TSPL is proceeding with further steps for retendering the FGD project. TSPL filed a petition before the Punjab State Electricity Regulatory Commission (PSERC) for approval of MoEFCC notification as change in law in terms of Article 13 of PPA on June 30, 2017 enabling it to recover certain costs. PSERC vide its order dated December 21, 2018 has held that MoEFCC notification is not a change in law as it does not impose any new requirements. TSPL had filed an appeal before Hon’ble Appellate Tribunal for Electricity (APTEL) challenging the said order of PSERC. APTEL has pronounced the order August 28, 2020 in favour of TSPL allowing the cost pass through. PSPCL has filed an appeal against this order in Supreme Court. The matter was listed on February 03, 2022 wherein the SC issued notice and directed the respondents to file their respective counter affidavits in the matters. The matter is yet to be heard. (f) In December 2021, MoEFCC ₹ million) as provision for the year ended March 31, 2022, towards estimated costs of legacy fly ash utilization including reclamation costs. |
Supplementary Information on Oi
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) | 12 Months Ended |
Mar. 31, 2022 | |
Extractive Industries [Abstract] | |
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) | In accordance with Codification Topic 932 - Extractive Activities - Oil and gas, this section provides supplemental information on oil and gas exploration and producing activities of the Company for the years ended March 31, 2020, 2021 and 2022. The information included in items (i) through (iii) Method of accounting for costs incurred in oil and gas producing activities and manner of disposing of capitalized costs relating to those activities We follow a successful efforts based accounting policy for oil and gas assets. Costs incurred prior to obtaining the legal rights to explore an area are expensed immediately to the Consolidated statements of profit or loss. Expenditure incurred on the acquisition of a license interest is initially capitalised on a license by license basis. Costs are held, un-depleted, within intangible exploration/appraisal assets until such time as the exploration phase on the license area is complete or commercial reserves have been discovered. Exploration expenditure incurred in the process of determining oil and gas exploration targets is capitalised initially within intangible exploration/appraisal assets and subsequently allocated to drilling activities. Exploration/appraisal drilling costs are initially capitalised on well-by-well basis until the success or otherwise of the well has been established. The success or failure of each exploration/appraisal effort is judged on a well-by-well basis. Drilling costs are written off on completion of a well unless the results indicate that hydrocarbon reserves exist and there is a reasonable prospect that these reserves are commercial. Following appraisal of successful exploration wells, if commercial reserves are established and technical feasibility for extraction demonstrated, then the related capitalised intangible exploration/appraisal costs are transferred into a single field cost center within property, plant and equipment - development/producing assets after testing for impairment. Where results of exploration drilling indicate the presence of hydrocarbons which are ultimately not considered commercially viable, all related costs are written off to the Consolidated statements of profit or loss. All costs incurred after the technical feasibility and commercial viability of producing hydrocarbons has been demonstrated are capitalised within property, plant and equipment - development/producing assets on a field-by-field basis. Subsequent expenditure is capitalised only where it either enhances the economic benefits of the development/producing asset or replaces part of the existing development/producing asset. Any remaining costs associated with the part replaced are expensed. Net proceeds from any disposal of an intangible exploration/appraisal asset are initially credited against the previously capitalised costs. Any surplus proceeds are credited to the Consolidated statements of profit or loss. Net proceeds from any disposal of development/producing assets are credited against the previously capitalised cost. A gain or loss on disposal of a development/producing asset is recognised in the Consolidated statements of profit or loss to the extent that the net proceeds exceed or are less than the appropriate portion of the net capitalised costs of the asset. Capitalized costs relating to oil and gas producing activities The following table summarizes capitalized costs for oil and gas exploration and production activities with the related accumulated depreciation, depletion and amortization, and asset retirement obligation assets: India Sri Lanka South Africa ( ₹ in millions) ( ₹ in millions) ( ₹ in millions) March 31, 2022 Unproved oil and gas properties 43,705 59,571 2,751 Proved oil and gas properties 1,554,729 — — Support equipment 6,740 — 5 Gross Capitalized costs 1,605,174 59,571 2,756 Accumulated depreciation, depletion, and amortization, and valuation allowances (including impairment loss) (1,461,830 ) (59,571 ) (2,756 ) Net Capitalized costs 143,344 — — March 31, 2021 Unproved oil and gas properties 37,333 57,766 2,668 Proved oil and gas properties 1,521,179 — — Support equipment 6,657 Gross Capitalized costs 1,565,169 57,766 2,668 Accumulated depreciation, depletion, and amortization, and valuation allowances (including impairment loss) (1,456,963 ) (57,766 ) (2,673 ) Net Capitalized costs 108,206 — (5 ) March 31, 2020 Unproved oil and gas properties 33,033 58,959 2,728 Proved oil and gas properties 1,542,710 — — Support equipment 6,553 — — Gross Capitalized costs 1,582,296 58,959 2,728 Accumulated depreciation, depletion, and amortization, and valuation allowances (including impairment loss) (1,465,495 ) (58,959 ) (2,728 ) Net Capitalized costs 116,801 — — (i) Costs incurred in oil and gas property acquisition, exploration and development activities Costs incurred are summarized below and include both amounts expensed and capitalized: India Sri Lanka South Africa ( ₹ in millions) ( ₹ in millions) ( ₹ in millions) March 31, 2022 Acquisition of properties Proved Unproved Exploration costs (13,600 ) 6 — Development costs 8,195 — — Total (5,405 ) 6 — March 31, 2021 Acquisition of properties Proved Unproved Exploration costs 6,168 4 1 Development costs 8,640 — — Total 14,808 4 1 March 31, 2020 Acquisition of properties Proved Unproved Exploration costs 3,061 5 9 Development costs 41,677 — — Total 44,738 5 9 * Figures in brackets ( ) represents reversal/ transfers between exploration and development costs. (ii) Results of operations for oil and gas producing activities The Company’s results of operations from oil and gas producing activities for the years ended March 31, 2022, 2021 and 2020 are shown in the following table. Production costs are lifting costs incurred to operate and maintain productive wells and related equipment and facilities, including operating employees’ compensation, materials, supplies, fuel consumed in operations and operating costs related to natural gas processing plants. Exploration expenses include the costs of geological and geophysical activities and non-productive section 80-IB India Sri Lanka South Africa ( ₹ in millions) ( ₹ in millions) ( ₹ in millions) Year ended March 31, 2022 Revenues Sales 124,301 — — Transfers — — — Operating Income 233 — — Total 124,534 — — Production costs (59,565 ) — — Exploration (expenses)/ reversal (26,180 ) (1 ) — Depreciation, depletion and amortization and valuation provisions 39,858 — — (including impairment loss/reversal) — Results before income tax expenses 78,647 (1 ) — Income tax expenses (34,741 ) — — Results of operations from producing activities (excluding corporate overhead and interest costs) 43,906 (1 ) — Year ended March 31, 2021 Revenues Sales 75,308 — — Transfers — — — Operating Income 342 — — Total 75,650 — — Production costs (39,582 ) — — Exploration (expenses)/ reversal (69 ) (1 ) — Depreciation, depletion and amortization and valuation provisions — (including impairment loss/reversal) (21,235 ) — — Results before income tax expenses 14,764 (1 ) — Income tax expenses (3,031 ) — — Results of operations from producing activities (excluding corporate overhead and interest costs) 11,733 (1 ) — — Year ended March 31, 2020 Revenues Sales 126,608 — — Transfers — — — Operating Income 188 — — Total 126,796 — — Production costs (50,251 ) — — Exploration expenses (22 ) (4 ) (1 ) Depreciation, depletion and amortization and valuation provisions (including impairment loss) (175,086 ) — — Results before income tax expenses (98,563 ) (4 ) (1 ) Income tax expenses 33,868 — — Results of operations from producing activities (excluding corporate overhead and interest costs) (64,695 ) (4 ) (1 ) (iii) Reserve quantities information The following tables represent estimates for oil and gas reserves by geographic area as of March 31, 2022, 2021, and 2020. Quantities mentioned below represent proved developed and proved undeveloped reserves together with changes in quantities for the fiscal years 2022, 2021, and 2020. The definitions used for proved, proved developed and proved undeveloped oil and gas reserves are in accordance with United States Securities and Exchange Commission (SEC) Rule 4-10 S-X. 12-month All the proved reserves presented herein are based on PSCs with the GoI. As such, all net reserves are based on an entitlement calculation which converts our share of cost recovery and profit petroleum under each contract to a volume equivalent of net reserves in accordance with SEC guidance on calculating net reserves subject to these agreements A summary of the annual changes in the proved reserves of oil is as follows (in mmbbls): Proved developed and undeveloped reserves India Sri Lanka South Africa Total Reserves at March 31, 2019 126.83 — — 126.83 Revisions of previous estimates 5.40 — — 5.40 Extensions and discoveries 0.04 — — 0.04 Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (28.23 ) — — (28.23 ) Reserves at March 31, 2020 104.04 — — 104.04 Revisions of previous estimates 21.47 — — 21.47 Extensions and discoveries 0.67 — — 0.67 Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (21.88 ) — — (21.88 ) Reserves at March 31, 2021 104.30 — — 104.30 Revisions of previous estimates (10.23 ) — — (10.23 ) Extensions and discoveries — — — — Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (19.00 ) — — (19.00 ) Reserves at March 31, 2022 75.07 — — 75.07 A summary of the annual changes in the proved reserves of natural gas is as follows (in bcf): Proved developed and undeveloped reserves India Sri Lanka South Africa Total Reserves at March 31, 2019 95.37 — — 95.37 Revisions of previous estimates 42.37 — — 42.37 Extensions and discoveries — — — — Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (18.71 ) — — (18.71 ) Reserves at March 31, 2020 119.03 — — 119.03 Revisions of previous estimates 9.21 — — 9.21 Extensions and discoveries — — — — Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (18.46 ) — — (18.46 ) Reserves at March 31, 2021 109.78 — — 109.78 Revisions of previous estimates (14.57 ) — — (14.57 ) Extensions and discoveries 1.12 — — 1.12 Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (20.8 ) — — (20.8 ) Reserves at March 31, 2022 75.53 — — 75.53 Year ending March 31, 2020 Total proved reserves as of March 31, 2019 were 142.72 mmboe. For the year ending March 31, 2020, total revisions of 12.47 mmboe were comprised of an increase of 8.94 mmboe based on technical revisions due to improved production performance and an increase of 3.53 mmboe due to revisions based on commodity prices. These total revisions comprised an increase of 0.06 mmboe for the Cambay block (CB/OS-2), (KG-ONN-2003/1), (RJ-ON-90/1), (PKGM-1). Saraswati-4 Year ending March 31, 2021 Total proved reserves as of March 31, 2020 were 123.88 mmboe. For the year ending March 31, 2021 total revisions of 23.01 mmboe comprised an increase of 9.66 mmboe based on technical revisions due to improved production performance and an increase of 13.35 mmboe due to revisions based on commodity prices. These total revisions comprised an increase of 0.51 mmboe for the Cambay block (CB/OS-2), (KG-ONN-2003/1), (RJ-ON-90/1), (PKGM-1). South-1 Year ending March 31, 2022 Total proved reserves as of March 31, 2021 were 122.60 mmboe. For the year ending March 31, 2022, total revisions of 12.66 mmboe were comprised of an increase of 7.33 mmboe based on technical revisions due to changes in production performance and a decrease of 19.99 mmboe due to revisions based on commodity prices. These total revisions were comprised of an increase of 0.55 mmboe for the Cambay block (CB/OS-2), (KG-ONN-2003/1), (RJ-ON-90/1), (PKGM-1). (AA-ONHP-2018/01). (v) Reserve quantities information (Continued) 2022 2021 2020 Crude Oil Natural gas Crude Oil Natural gas Crude Oil Natural gas (mmbbls) (bcf) (mmbbls) (bcf) (mmbbls) (bcf) Net proved developed reserves: India 64.91 67.77 98.96 98.75 91.49 100.45 Sri Lanka — — — — — — South Africa — — — — — — Total net proved developed reserves 64.91 67.77 98.96 98.75 91.49 100.45 Net proved undeveloped reserves: India 10.17 7.75 5.34 11.02 12.55 18.57 Sri Lanka — — — — — — South Africa — — — — — — Total net proved undeveloped reserves 10.17 7.75 5.34 11.02 12.55 18.57 (v) Standardized measure of discounted future net cash flows relating to proved oil and gas quantities and changes therein The table below shows the standardized measure of future net cash flows relating to proved reserves. The analysis is computed in accordance with Topic 932 – Extractive Activities – Oil and gas, by applying average prices during the 12-month un-weighted first-day-of-the-month year-end year-end year-end Future price changes are limited to those provided by existing contractual arrangements at the end of each reporting year. Future development and production costs are those estimated future expenditures necessary to develop and produce fiscal year-end year-end year-end Pre-tax year-end 80-IB year-by-year (v) Standardized measure of discounted future net cash flows relating to proved oil and gas quantities and changes therein (continued) India ( ₹ Sri Lanka ( ₹ South Africa ( ₹ Total ( ₹ At March 31, 2022 Future cash inflows 489,013 — — 489,013 Future production costs (258,748 ) — — (258,748 ) Future development costs (46,791 ) — — (46,791 ) Future income tax expenses (55,714 ) — — (55,714 ) Undiscounted future net cash flows 127,760 — — 127,760 10 percent midyear annual discount for timing of estimated cash Flows (33,306 ) — — (33,306 ) Standardized measure of discounted future net cash flows 94,454 — — 94,454 At March 31, 2021 Future cash inflows 333,722 — — 333,722 Future production costs (232,675 ) — — (232,675 ) Future development costs (31,722 ) — — (31,722 ) Future income tax expenses (10,603 ) — — (10,603 ) Undiscounted future net cash flows 58,722 — — 58,722 10 percent midyear annual discount for timing of estimated cash Flows (19,577 ) — — (19,577 ) Standardized measure of discounted future net cash flows 39,145 — — 39,145 At March 31, 2020 Future cash inflows 493,984 — — 493,984 Future production costs (301,972 ) — — (301,972 ) Future development costs (28,465 ) — — (28,465 ) Future income tax expenses (43,544 ) — — (43,544 ) Undiscounted future net cash flows 120,003 — — 120,003 10 percent midyear annual discount for timing of estimated cash Flows (33,298 ) — — (33,298 ) Standardized measure of discounted future net cash flows 86,705 — — 86,705 (v) Standardized measure of discounted future net cash flows relating to proved oil and gas quantities and changes therein (continued) India ₹ Sri Lanka ₹ South Africa ₹ Total ₹ Balance at April 1, 2021 39,145 — — 39,145 Sales and transfers of oil and gas, net of production cost (65,680 ) — — (65,680 ) Development cost incurred 10,590 — — 10,590 Net change due to purchases and sales of minerals in place — — — — Net change due to extensions, discoveries and improved recovery less related costs 8 — — 8 Net change due to revisions in quantity estimates (22,829 ) — — (22,829 ) Net change in prices, transfer prices and in production cost 116,478 — — 116,478 Changes in estimated future development costs 45,813 — — 45,813 Accretion of discount 4,974 — — 4,974 Net change in income taxes (34,045 ) — (34,045 ) Timing — — — — Balance at March 31, 2022 94,454 — — 94,454 Balance at April 1, 2020 86,705 — — 86,705 Sales and transfers of oil and gas, net of production cost (35,349 ) — — (35,349 ) Development cost incurred 8,720 — — 8,720 Net change due to purchases and sales of minerals in place — — — — Net change due to extensions, discoveries and improved recovery less related costs 354 354 Net change due to revisions in quantity estimates 12,944 — — 12,944 Net change in prices, transfer prices and in production cost (58,612 ) — — (58,612 ) Changes in estimated future development costs (13,021 ) — — (13,021 ) Accretion of discount 13,026 — — 13,026 Net change in income taxes 24,378 — — 24,378 Timing — — — — Balance at March 31, 2021 39,145 — — 39,145 Balance at April 1, 2019 114,044 — — 114,044 Sales and transfers of oil and gas, net of production cost (80,409 ) — — (80,409 ) Development cost incurred 39,114 — — 39,114 Net change due to purchases and sales of minerals in place — — — — Net change due to extensions, discoveries and improved recovery less related costs 43 — — 43 Net change due to revisions in quantity estimates 13,595 — — 13,595 Net change in prices, transfer prices and in production cost (35,288 ) — — (35,288 ) Changes in estimated future development costs (436 ) — — (436 ) Accretion of discount 18,193 — — 18,193 Net change in income taxes 17,849 — — 17,849 Timing — — — — Balance at March 31, 2020 86,705 — — 86,705 |
Basis of preparation and basi_2
Basis of preparation and basis of measurement of financial statements (Policies) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Basis of preparation | a) Basis of preparation These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements have been prepared in accordance with the accounting policies set out below and were consistently applied to all periods presented unless otherwise stated. These financial statements are approved for issue by the Board of Directors on August 1, 2022. Certain comparative figures appearing in these consolidated financial statements have been regrouped and/or reclassified to better reflect the nature of those items. The consolidated financial statements are presented in Indian Rupee ( ₹ ₹ |
Basis of measurement | b) Basis of Measurement The consolidated financial statements have been prepared on a going concern basis using historical cost convention and on an accrual method of accounting, except for certain financial assets and liabilities which are measured at fair value as explained in the accounting policies below. |
Restatement/Reclassification | c) Restatement/Reclassification In the comparative period ended March 31, 2021, some of the acceptances which were previously included under trade and other receivables and trade and other payables amounting to ₹ ₹ million, respectively, have been reclassified to acceptances on the face of the balance sheet. |
Basis of consolidation | A. Basis of consolidation Subsidiaries: The consolidated financial statements incorporate the results of the Company and all its subsidiaries (the “Group”), being the entities that it controls. Control is evidenced where the Group has power over the investee, is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Power is demonstrated through existing rights that give the ability to direct relevant activities, which significantly affect the entity’s returns. The financial statements of subsidiaries are prepared for the same reporting year as the parent company. Where necessary, adjustments are made to the financial statements of subsidiaries to align the accounting policies in line with accounting policies of the Group. For non-wholly non-controlling Liability for put option issued to non-controlling non-controlling For acquisitions of additional interests in subsidiaries, where there is no change in control, the Group recognises a reduction to the non-controlling non-controlling Intra-Group balances and transactions, and any unrealised profits arising from intra-Group transactions are eliminated. Unrealised losses are eliminated unless costs cannot be recovered. Joint arrangements A Joint arrangement is an arrangement of which two or more parties have joint control. Joint control is considered when there is contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in joint arrangements are classified as either joint operations or joint venture. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement, have rights to the assets, and obligations for the liabilities relating to the arrangement. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. The Group has both joint operations and joint ventures. Joint operations The Group has joint operations within its oil and gas segment. It participates in several unincorporated joint operations which involve the joint control of assets used in oil and gas exploration and producing activities. The Group accounts for its share of assets, liabilities, income and expenditure of joint operations in which the Group holds an interest. Liabilities in unincorporated joint operations where the Group is the operator are accounted for at gross values (including share of other partners) with a corresponding receivable from the venture partner. These have been included in the consolidated financial statements under the appropriate headings. Details of joint operations are set out in Note 34(b). Joint venture The Group accounts for its interest in joint venture using the equity method (see Note B below), after initially being recognised at cost in the consolidated statements of financial position. Goodwill arising on the acquisition of joint venture is included in the carrying value of investments in joint venture. |
Investments in associates | B. Investments in associates: An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but, is not control or joint control over those policies. Investments in associates are accounted for using the equity method. Goodwill arising on the acquisition of associates is included in the carrying value of investments in associate. Equity method of accounting Under the equity method of accounting applicable for investments in associates and joint ventures, investments are initially recorded at the cost to the Group and then, in subsequent periods, the carrying value is adjusted to reflect the Group’s share of the post-acquisition profits or losses of the investee, the Group’s share of other comprehensive income of the investee, other changes to the investees net assets and is further adjusted for impairment losses, if any. Dividend received or receivable from associate and joint ventures are recognised as a reduction in carrying amount of the investment. The consolidated statements of profit or loss and consolidated statements of comprehensive income include the Group’s share of investee’s results, except where the investee is generating losses share of such losses in excess of the Group’s interest in that investee are not recognised. Losses recognised under the equity method in excess of the Group’s investment in ordinary shares are applied to the other components of the Group’s interest that forms part of Group’s net investment in the investee in the reverse order of their seniority (i.e., priority in liquidation). If the Group’s share of losses in an associate or joint venture equals or exceeds its interests in the associate or joint venture, the Group discontinues the recognition of further losses. Additional losses are provided for only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the associate/ joint venture. Unrealised gains arising from transactions with associates and joint venture are eliminated against the investment to the extent of the Group’s interest in these entities. Unrealised losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment of the asset transferred. Accounting policies of equity accounted investees are changed where necessary to ensure consistency with the policies adopted by the Group. The carrying amount of equity accounted investments are tested for impairment in accordance with the policy described in Note 3 (a)(I) below. |
Business combination | C. Business combinations Business combinations except those under common control are accounted for under the acquisition method. The acquiree’s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition under IFRS 3 (Business Combinations) Excess of fair value of purchase consideration and the acquisition date non-controlling re-assesses Those provisional amounts are adjusted through goodwill during the measurement period, or additional assets or liabilities are recognised, or the amounts at which existing assets or liabilities were recorded are remeasured to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the amounts recognised at that date. These adjustments are called as measurement period adjustments. The measurement period does not exceed twelve months from the acquisition date. Any non-controlling non-controlling Acquisition expenses are charged to the consolidated statements of profit or loss. If the Group acquires a group of assets in a company that does not constitute a business combination in accordance with IFRS 3, the cost of the acquired group of assets is allocated to the individual identifiable assets acquired based on their relative fair value. Common control transactions A business combination involving entities or businesses under common control is a business combination in which all of the combining entities or businesses are ultimately controlled by the same party or parties both before and after the business combination and the control is not transitory. The transactions between entities under common control are scoped out of IFRS 3 and there is no authoritative literature for these transactions under IFRS. As a result, the Group adopted accounting principles similar to the pooling-of-interest |
Revenue recognition | D. Revenue recognition Sale of products/ rendering of services (including revenue from contracts with customers) The Group’s revenue from contracts with customers is mainly from the sale of copper, aluminium, iron ore, zinc, oil and gas, power, steel, glass substrate and port operations. Revenue from contracts with customers is recognised when control of the goods or services is transferred to the customer which usually is on delivery of the goods to the shipping agent at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. Revenue is recognised net of discounts, volume rebates, outgoing sales taxes/ goods and service tax and other indirect taxes. Revenues from sale of by-products Certain of the Group’s sales contracts provide for provisional pricing based on the price on the London Metal Exchange (LME) and crude index, as specified in the contract. Revenue in respect of such contracts is recognised when control passes to the customer and is measured at the amount the entity expects to be entitled – being the estimate of the price expected to be received at the end of the measurement period. Post transfer of control of goods, provisional pricing features are accounted in accordance with IFRS 9 ( Financial Instruments) (Revenue from Contracts with Customers) Revenue from oil, gas and condensate sales represent the Group’s share in the revenue from sale of such products, by the joint operations, and is recognised as and when control in these products gets transferred to the customers. In computing its share of revenue, the Group excludes government’s share of profit which gets accounted for when the obligation in respect of the same arises. Revenue from sale of power is recognised when delivered and measured based on rates as per bilateral contractual agreements with buyers and at a rate arrived at based on the principles laid down under the relevant Tariff Regulations as notified by the regulatory bodies, as applicable. Where the Group acts as a port operator, revenues relating to operating and maintenance phase of the port contract are measured at the amount that Group expects to be entitled to for the services provided. A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs part of its obligation by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognised for the earned consideration when that right is conditional on the Group’s future performance. A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration from the customer. If a customer pays consideration before the Group transfers goods or services to the customer, a contract liability is recognised when the payment is received. The advance payments received, plus a specified rate of return/ discount at the prevailing market rates, are settled by supplying respective goods over a period of up to twenty four months under an agreed delivery schedule as per the terms of the respective agreements. As these are contracts that the Group expects and has the ability to fulfil through delivery of a non-financial Interest income Interest income from debt instruments is recognised using the effective interest rate method. The effective interest rate is the rate that discounts estimated future cash receipts through the expected life of the financial asset to the gross carrying amount of a financial asset. When calculating the effective interest rate, the Group estimates the expected cash flows by considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and similar options) but does not consider the expected credit losses. Dividends Dividend income is recognised in the consolidated statements of profit or loss only when the right to receive payment is established, provided it is probable that the economic benefits associated with the dividend will flow to the Group, and the amount of the dividend can be measured reliably. |
Property, plant and equipment | E (a) Property, plant and equipment (i) Mining properties When a decision is taken that a mining properties is viable for commercial production (i.e., when the Group determines that the mining properties will provide sufficient and sustainable return relative to the risks and the Group decided to proceed with the mine development), all further pre-production The stripping cost incurred during the production phase of a surface mine is deferred Deferred stripping costs are included in mining properties After initial recognition, the stripping activity asset is depreciated on a unit of production method over the expected useful life of the identified component of the ore body. In circumstances where a mining property is abandoned, the cumulative capitalised costs relating to the property are written off in the period in which it occurs, i.e., when the Group determines that the mining property will not provide sufficient and sustainable returns relative to the risks and the Group decides not to proceed with the mine development. Commercial reserves are proved and probable reserves as defined by the ‘JORC’ Code, ‘MORC’ code or ‘SAMREC’ Code. Changes in the commercial reserves affecting unit of production calculations are dealt with prospectively over the revised remaining reserves. (ii) Oil and gas assets- (developing/producing assets) For oil and gas assets a successful efforts based accounting policy is followed. Costs incurred prior to obtaining the legal rights to explore an area are expensed immediately to the consolidated statements of profit or loss. All costs incurred after the technical feasibility and commercial viability of producing hydrocarbons has been demonstrated are capitalised within property, plant and equipment—development/producing assets on a field-by-field Net proceeds from any disposal of development/producing assets are credited against the previously capitalised cost. A gain or loss on disposal of a development/producing asset is recognised in the consolidated statements of profit or loss to the extent that the net proceeds exceed or are less than the appropriate portion of the net capitalised costs of the asset. (iii) Other property, plant and equipment The initial cost of property, plant and equipment comprises its purchase price, including import duties and non-refundable If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. All other expenses on existing property, plant and equipment, including day-to-day Gains and losses on disposal of an item of property, plant and equipment, computed as the difference between the net disposal proceeds and the carrying amount of the asset, are included in the consolidated statements of profit or loss when the asset is derecognised. Major inspection and overhaul expenditure is capitalised, if the recognition criteria are met. (iv) Assets under construction Assets under construction are capitalised in the assets under construction account. At the point when an asset is capable of operating in the manner intended by management, the cost of construction is transferred to the appropriate category of property, plant and equipment. Costs associated with the commissioning of an asset and any obligatory decommissioning costs are capitalised until the period of commissioning has been completed and the asset is ready for its intended use. Asset under construction are presented at cost, net of accumulated impairment losses, if any. (v) Depreciation, depletion and amortisation expense Mining properties and other assets in the course of development or construction, freehold land and goodwill are not depreciated or amortised. Mining properties The capitalised mining properties are amortised on a unit-of-production Oil and gas producing facilities All expenditures carried within each field are amortised from the commencement of production on a unit of production basis, which is the ratio of oil and gas production in the period to the estimated quantities of commercial reserves at the end of the period plus the production in the period, generally on a field-by-field Commercial reserves are proven and probable oil and gas reserves, which are defined as the estimated quantities of crude oil, natural gas and natural gas liquids which geological, geophysical and engineering data demonstrate with a specified degree of certainty to be recoverable in future years from known reservoirs and which are considered commercially producible. Costs used in the unit of production calculation comprise the net book value of capitalised costs plus the estimated future field development costs required to access the commercial reserves. Changes in the estimates of commercial reserves or future field development costs are recorded prospectively. The estimates of hydrocarbon reserves and resources have been derived in accordance with the Society of Petroleum Engineers “Petroleum Resources Management System (2018)”. Other assets Depreciation on property, plant and equipment is calculated using the straight-line method (SLM) to allocate their cost, net of their residual values, over their estimated useful lives (determined by the management) as given below. Management’s assessment takes into account, inter alia, the nature of the assets, the estimated usage of the assets, the operating conditions of the assets, past history of replacement and maintenance support. Estimated useful life of assets are as follows: ASSET Useful life (in years) Buildings (residential; factory etc.) 3 - 60 Plant and equipment 15 - 40 Railway sidings 15 Office equipment 3 - 6 Furniture and fixtures 8 - 10 Vehicles 8 - 10 Major inspection and overhaul costs are depreciated over the estimated life of the economic benefit to be derived from such costs. The carrying amount of the remaining previous overhaul cost is charged to the consolidated statements of profit or loss if the next overhaul is undertaken earlier than the previously estimated life of the economic benefit. The Group reviews the residual value and useful life of an asset at least at each financial year end , (b) Exploration and evaluation assets Exploration and evaluation expenditure incurred prior to obtaining the mining right or the legal right to explore are expensed as incurred. Exploration and evaluation expenditure incurred after obtaining the mining right or the legal right to explore are capitalised as exploration and evaluation assets (intangible assets) and stated at cost less impairment, if any. Exploration and evaluation assets are transferred to the appropriate category of property, plant and equipment when the technical feasibility and commercial viability has been determined. Exploration and evaluation assets are assessed for impairment and impairment loss, if any, is recognised prior to reclassification. Exploration expenditure includes all direct and allocated indirect expenditure associated with finding specific mineral resources which includes depreciation and applicable operating costs of related support equipment and facilities and other costs of exploration activities: • Acquisition costs—costs associated with acquisition of licenses and rights to explore, including related professional fees. • General exploration costs—costs of surveys and studies, rights of access to properties to conduct those studies (e.g., costs incurred for environment clearance, defence clearance, etc.), and salaries and other expenses of geologists, geophysical crews and other personnel conducting those studies. • Costs of exploration drilling and equipping exploration and appraisal wells. Exploration expenditure incurred in the process of determining oil and gas exploration well-by-well well-by-well Following appraisal of successful exploration wells, if commercial reserves are established and technical feasibility for extraction demonstrated, then the related capitalised exploration costs are transferred into a single field cost centre within property, plant and equipment—development/ producing assets (oil and gas properties) after testing for impairment. Where results of exploration drilling indicate the presence of hydrocarbons which are ultimately not considered commercially viable, all related costs are written off to the consolidated statements of profit or loss. Expenditure incurred on the acquisition of a licence interest is initially capitalised on a licence-by-licence Net proceeds from any disposal of an exploration asset are initially credited against the previously capitalised costs. Any surplus/ deficit is recognised in the consolidated statements of profit or loss. (c) Other Intangible assets Intangible assets acquired separately are measured on initial recognition at cost. Subsequently, intangibles assets are measured at cost less accumulated amortisation and accumulated impairment losses, if any. The Group recognises port concession rights as “Intangible Assets” arising from a service concession arrangement in which the grantor controls or regulates the services provided and the prices charged and also controls any significant residual interest in the infrastructure such as property, plant and equipment, irrespective whether the infrastructure is existing infrastructure of the grantor or the infrastructure is constructed or purchased by the Group as part of the service concession arrangement. Such an intangible asset is recognised by the Group initially at cost determined as the fair value of the consideration received or receivable for the construction service delivered and is capitalised when the project is complete in all respects. Port concession rights are amortised on straight line basis over the balance of license period. The concession period Any addition to the port concession rights are measured at fair value on recognition. Port concession rights also include certain property, plant and equipment in accordance with IFRIC 12 (Service Concession Arrangements) Intangible assets are amortised over their estimated useful life on a straight line basis. Software is amortised over the estimated useful life ranging from 2-5 16-25 know-how Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the consolidated statements of profit or loss when the asset is derecognised. The amortisation period and the amortisation method are reviewed at least at each financial year end. If the expected useful life of the asset is different from previous estimates, the change is accounted for prospectively as a change in accounting estimate. |
Non-current assets held for sale | F. Non-current Non-current Non-current |
Financial instruments | G. Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. (a) Financial Assets – Recognition and subsequent measurement All financial assets are recognised initially at fair value plus, in the case of financial assets not recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition of the financial asset. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace (regular way trades) are recognised on the trade date, i.e., the date that the Group commits to purchase or sell the asset. For purposes of subsequent measurement, financial assets are classified in four categories: Debt instruments at amortised cost A ‘debt instrument’ is measured at amortised cost if both the following conditions are met: a) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and b) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. After initial measurement, such financial assets are subsequently measured at amortised cost using the Effective Interest Rate (EIR) method. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included in interest income in consolidated statements of profit or loss. The losses arising from impairment are recognised in consolidated statements of profit or loss. Debt instruments at fair value through other comprehensive income (FVOCI) A ‘debt instrument’ is classified as at FVOCI if both of the following criteria are met: a) The objective of the business model is achieved both by collecting contractual cash flows and selling the financial assets, and b) The asset’s contractual cash flows represent SPPI. Debt instruments included within the FVOCI category are measured initially, as well as at each reporting date, at fair value. Fair value movements are recognised in other comprehensive income (OCI). However, interest income, impairment losses and reversals and foreign exchange gain or loss are recognized in the consolidated statements of profit or loss. On derecognition of the asset, cumulative gain or loss previously recognised in other comprehensive income is reclassified from the equity to consolidated statements of profit or loss. Interest earned whilst holding fair value through other comprehensive income debt instrument is reported as interest income using the EIR method. Debt instruments at fair value through profit or loss (FVTPL) FVTPL is a residual category for debt instruments. Any debt instrument which does not meet the criteria for categorization as at amortised cost or as FVOCI is classified as FVTPL. In addition, the Group may elect to designate a debt instrument which otherwise meets amortised cost or FVOCI criteria as FVTPL. However, such election is allowed only if doing so reduces or eliminates a measurement or recognition inconsistency (referred to as ‘accounting mismatch’). Debt instruments included within the FVTPL category are measured at fair value with all changes being recognised in consolidated statement of profit or loss. The Group has not designated any debt instrument as FVTPL. Equity Instruments All equity investments in the scope of IFRS 9 are measured at fair value. Equity instruments which are held for trading and contingent consideration recognised by an acquirer in a business combination to which IFRS 3 applies are classified as at FVTPL. For all other equity instruments, the Group may make an irrevocable election to present in other comprehensive income any subsequent changes in the fair value. The Group makes such election on an instrument-by-instrument If the Group decides to classify an equity instrument as at FVOCI, then all fair value changes on the instrument, excluding dividends, are recognised in the OCI. There is no recycling of the amounts from OCI to profit or loss, even on sale of investment. However, the Group may transfer the cumulative gain or loss within equity. For equity instruments which are classified as FVTPL, all subsequent fair value changes are recognised in the consolidated statements of profit or loss. (b) Financial Assets—Derecognition The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. (c) Impairment of Financial Assets In accordance with IFRS 9, the Group applies expected credit loss (“ECL”) model for measurement and recognition of impairment loss on the following financial assets: i) Financial assets that are debt instruments, and are measured at amortized cost, e.g., loans, debt securities and deposits; ii) Financial assets that are debt instruments and iii) Trade receivables or any contractual right to receive cash or another financial asset that result from transactions that are within the scope of IFRS 15. The Group follows the ‘simplified approach’ for recognition of impairment loss allowance on trade receivables, contract assets and lease receivables. The application of simplified approach does not require the Group to track changes in credit risk. Rather, it recognizes impairment loss allowance based on lifetime ECLs at each reporting date right from its initial recognition. At each reporting date, for recognition of impairment loss on other financial assets and risk exposure, the Group determines whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month 12-month Lifetime ECL is the expected credit loss resulting from all possible default events over the expected life of a financial instrument. The 12-month ECL is the difference between all contractual cash flows that are due to the Group in accordance with the contract and all the cash flows that the entity expects to receive, discounted at the original EIR. ECL impairment (loss allowance)/reversal during the year is recognised as (expense)/income in the consolidated statements of profit or loss. The consolidated statements of financial position presentation for various financial instruments is described below: i) Financial assets measured at amortised cost: ECL is presented as an allowance, i.e., as an integral part of the measurement of those assets. The Group does not reduce impairment allowance from the gross carrying amount. ii) Debt instruments measured at FVOCI: Since financial assets are already reflected at fair value, impairment allowance is not further reduced from its value. Rather, ECL amount is presented as ‘accumulated impairment amount’ in OCI. For assessing increase in credit risk and impairment loss, the Group combines financial instruments on the basis of shared credit risk characteristics with the objective of facilitating an analysis that is designed to enable significant increases in credit risk to be identified on a timely basis. The Group does not have any purchased or originated credit-impaired (POCI) financial assets, i.e., financial assets which are credit impaired on purchase/origination. (d) Financial Liabilities – Recognition and Subsequent measurement Financial liabilities are classified, at initial recognition, at fair value through profit or loss, or as loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognised initially at fair value, and in the case of financial liabilities at amortised cost, net of directly attributable transaction costs. The Group’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts, financial guarantee contracts and derivative financial instruments. The measurement of financial liabilities depends on their classification, as described below: Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognised in the consolidated statements of profit or loss. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. For liabilities designated as FVTPL, fair value gains/ losses attributable to changes in own credit risk are recognised in OCI. These gains/ losses are not subsequently transferred to consolidated statements of profit or loss. However, the Group may transfer the cumulative gain or loss within equity. All other changes in fair value of such liability are recognised in the consolidated statements of profit or loss. The Group has not designated any financial liability at fair value through profit or loss. Financial liabilities at amortised cost (Loans, Borrowings and Trade and Other payables) After initial recognition, interest-bearing loans and borrowings and trade and other payables are subsequently measured at amortised cost using the EIR method. Gains and losses are recognised in consolidated statements of profit or loss when the liabilities are derecognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance and other costs in the consolidated statements of profit or loss. (e) Financial Liabilities – Derecognition A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the consolidated statements of profit or loss. (f) Embedded Derivatives An embedded derivative is a component of a hybrid (combined) instrument that also includes a non-derivative non-financial If the hybrid contract contains a host that is a financial asset within the scope of IFRS 9, the Group does not separate embedded derivatives. Rather, it applies the classification requirements contained in IFRS 9 to the entire hybrid contract. Derivatives embedded in all other host contracts are accounted for as separate derivatives and recorded at fair value if their economic characteristics and risks are not closely related to those of the host contracts and the host contracts are not held for trading or designated at fair value through profit or loss. These embedded derivatives are measured at fair value with changes in fair value recognised in the consolidated statements of profit or loss, unless designated as effective hedging instruments. (g) 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 Group are recognised at the proceeds received, net of direct issue costs. (h) Offsetting of Financial Instruments Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statements of financial position if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. (i) Derivative Financial Instruments and Hedge Accounting Initial recognition and subsequent measurement In order to hedge its exposure to foreign exchange, interest rate, and commodity price risks, the Group enters into forward, option, swap contracts and other derivative financial instruments. The Group does not hold derivative financial instruments for speculative purposes. Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into and are subsequently re-measured Any gains or losses arising from changes in the fair value of derivatives are taken directly to the consolidated statements of profit or loss, except for the effective portion of cash flow hedges, which is recognised in OCI and later reclassified to the consolidated statements of profit or loss when the hedge item affects profit or loss or treated as basis adjustment if a hedged forecast transaction subsequently results in the recognition of a non-financial non-financial For the purpose of hedge accounting, hedges are classified as: • Fair value hedges when hedging the exposure to changes in the fair value of a recognised asset or liability or an unrecognised firm commitment; • Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset or liability or a highly probable forecast transaction or the foreign currency risk in an unrecognised firm commitment; or • Hedges of a net investment in a foreign operation. At the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which the Group wishes to apply hedge accounting. The documentation includes the Group’s risk management objective and strategy for undertaking hedge, the hedging/economic relationship, the hedged item or transaction, the nature of the risk being hedged, hedge ratio and how the Group will assess the effectiveness of changes in the hedging instrument’s fair value in offsetting the exposure to changes in the hedged item’s fair value or cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in fair value or cash flows and are assessed on an ongoing basis to determine that they actually have been highly effective throughout the financial reporting periods for which they were designated. Hedges that meet the strict criteria for hedge accounting are accounted for, as described (1) Fair value hedges Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in the consolidated statements of profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. When an unrecognised firm commitment is designated as a hedged item, the subsequent cumulative change in the fair value of the firm commitment attributable to the hedged risk is recognised as an asset or liability with a corresponding gain or loss recognised in the consolidated statements of profit or loss. Hedge accounting is discontinued when the Group revokes the hedge relationship, the hedging instrument or hedged item expires or is sold, terminated, or exercised or no longer meets the criteria for hedge accounting and the unamortised fair value is recognised immediately in statement of profit or loss. (2) Cash flow hedges The effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow hedge reserve, while any ineffective portion is recognised immediately in the consolidated statements of profit or loss. Amounts recognised in OCI are transferred to the consolidated statements of profit or loss when the hedged transaction affects profit or loss, such as when the hedged financial income or financial expense is recognised or when a forecast sale occurs. When the hedged item is the cost of a non-financial non-financial non-financial If the hedging instrument expires or is sold, terminated or exercised without replacement or rollover (as part of the hedging strategy), or if its designation as a hedge is revoked, or when the hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss previously recognised in OCI remains separately in equity until the forecast transaction occurs or the foreign currency firm commitment is met. (3) Hedges of a net investment Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a way similar to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognised in OCI while any gains or losses relating to the ineffective portion are recognised in the consolidated statements of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is reclassified to the consolidated statements of profit or loss. |
Borrowing costs | H. Borrowing costs Borrowing cost includes interest expense as per EIR and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost. Borrowing costs directly relating to the acquisition, construction or production of a qualifying capital project under construction are capitalised and added to the project cost during construction until such time that the assets are substantially ready for their intended use, i.e., when they are capable of commercial production. Borrowing costs relating to the construction phase of a service concession arrangement is capitalised as part of the cost of the intangible asset. Where funds are borrowed specifically to finance a qualifying capital project, the amount capitalised represents the actual borrowing costs incurred. Where surplus funds are available out of money borrowed specifically to finance a qualifying capital project, the income generated from such short-term investments is deducted from the total capitalised borrowing cost. If any specific borrowing remains outstanding after the related asset is ready for its intended use or sale, that borrowing then becomes part of general borrowing. Where the funds used to finance a project form part of general borrowings, the amount capitalised is calculated using a weighted average of rates applicable to relevant general borrowings of the Group during the year. All other borrowing costs are recognised in the consolidated statements of profit or loss in the year in which they are incurred. Capitalisation of interest on borrowings related to construction or development projects is ceased when substantially all the activities that are necessary to make the assets ready for their intended use are complete or when delays occur outside of the normal course of business. EIR is the rate that discounts the estimated future cash payments or receipts over the expected life of the financial liability or a shorter period, where appropriate, to the amortised cost of a financial liability. When calculating the effective interest rate, the Group estimates the expected cash flows by considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and similar options). |
Impairment | I. Impairment Non-financial Impairment charges and reversals are assessed at the level of cash-generating units. A cash-generating unit (CGU) is the smallest identifiable group of assets that generate cash inflows that are largely independent of the cash inflows from other assets or group of assets. The Group assesses at each reporting date, whether there is an indication that an asset may be impaired. The Group conducts an internal review of asset values annually, which is used as a source of information to assess for any indications of impairment or reversal of previously recognised impairment losses. Internal and external factors, such as worse economic performance than expected, changes in expected future prices, costs and other market factors are also monitored to assess for indications of impairment or reversal of previously recognised impairment losses. If any such indication exists or in case of goodwill where annual testing of impairment is required, then an impairment review is undertaken and the recoverable amount is calculated as the higher of fair value less costs of disposal and the asset’s value in use. Fair value less costs of disposal is the price that would be received to sell the asset in an orderly transaction between market participants and does not reflect the effects of factors that may be specific to the Group and not applicable to entities in general. Fair value for mineral and oil and gas assets is generally determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset, including any expansion prospects and its eventual disposal, using assumptions that an independent market participant may take into account. These cash flows are discounted at an appropriate post-tax Value in use is determined as the present value of the estimated future cash flows expected to arise from the continued use of the asset in its present form and its eventual disposal. The cash flows are discounted using a pre-tax The carrying amount of the CGU is determined on a basis consistent with the way the recoverable amount of the CGU is determined. The carrying value is net of deferred tax liability recognised in the fair value of assets acquired in the business combination. If the recoverable amount of an asset or CGU is estimated to be less than its carrying amount, the carrying amount of the asset or CGU is reduced to its recoverable amount and impairment loss is recognised in the consolidated statements of profit or loss. Any reversal of the previously recognised impairment loss is limited to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had previously been recognised except if initially attributed to goodwill. Exploration and evaluation assets: In assessing whether there is any indication that an exploration and evaluation asset may be impaired, the Group considers, as a minimum, the following indicators: • the period for which the Group has the right to explore in the specific area has expired during the period or will expire in the near future, and is not expected to be renewed; • substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned; • exploration for and evaluation of mineral resources in the specific area have not led to the discovery of commercially viable quantities of mineral resources and the Group has decided to discontinue such activities in the specific area; • sufficient data exist to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation asset is unlikely to be recovered in full from successful development or by sale; • reserve information prepared annually by external experts. When a potential impairment is identified, an assessment is performed for each area of interest in conjunction with the group of operating assets (representing a cash-generating unit) to which the exploration and evaluation assets is attributed. Exploration areas in which reserves have been discovered but require major capital expenditure before production can begin, are continually evaluated to ensure that commercial quantities of reserves exist or to ensure that additional exploration work is under way or planned. To the extent that capitalised expenditure is no longer expected to be recovered, it is charged to the consolidated statements of profit or loss. |
Leases | J. Leases The Group assesses at contract inception, all arrangements to determine whether they are, or contain, a lease i.e., if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. (a) Group as a lessor Leases in which the Group does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income from operating lease is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised over the lease term on the same basis as rental income. Contingent rents are recognised as revenue in the period in which they are earned. Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer (b) Group as a lessee The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value right-of-use (i) Right-of-use The Group recognises right-of-use Right-of-use right-of-use right-of-use Right-of-use (ii) Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (in some instances, in-substance In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is generally not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. The Group’s lease liabilities are included in trade and other payables. (iii) Short-term leases and leases of low-value The Group applies the short-term lease recognition exemption to its short-term leases of equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value low-value |
Government grants | K. Government grants Grants and subsidies from the government are recognised when there is reasonable assurance that (i) the Group will comply with the conditions attached to them, and (ii) the grant/subsidy will be received. When the grant or subsidy relates to revenue, it is recognised as income on a systematic basis in the consolidated statements of profit or loss over the periods necessary to match them with the related costs which they are intended to compensate. Government grants relating to tangible fixed assets are deducted in calculating the carrying amount of the assets and recognised in the consolidated statements of profit or loss over the expected useful lives of the respective assets as reduced depreciation expense. When loans or similar assistance are provided by governments or related institutions, with an interest rate below the current applicable market rate, the effect of this favourable interest is regarded as a government grant. The loan or assistance is initially recognised and measured at fair value and the government grant is measured as the difference between the initial carrying value of the loan and the proceeds received. The loan is subsequently measured as per the accounting policy applicable to financial liabilities. |
Inventories | L. Inventories Inventories and work-in-progress Cost is determined on the following basis: • Purchased copper concentrate is recorded at cost on a first-in, first-out • Finished products are valued at raw material cost plus costs of conversion, comprising labour costs and an attributable proportion of manufacturing overheads based on normal levels of activity and are moved out of inventory on a weighted average basis (except in copper business where FIFO basis is followed); and • By-products Net realisable value is determined based on estimated selling price, less further costs expected to be incurred for completion and disposal. |
Taxation | M. Taxation Tax expense represents the sum of current tax and deferred tax. Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the reporting date and includes any adjustment to tax payable in respect of previous years. Subject to the exceptions below, deferred tax is provided using the balance sheet method on all temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes and on carry forward of unused tax credits and unused tax losses: • tax payable on the future remittance of the past earnings of subsidiaries where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future; • deferred income tax is not recognised on initial recognition as well as on the impairment of goodwill which is not deductible for tax purposes or on the initial recognition of an asset or liability in a transaction that is not a business combination and at the time of the transaction, affects neither the accounting profit nor taxable profit (tax loss); and • deferred tax assets (including MAT credit entitlement) are recognised only to the extent that it is more likely than not that they will be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Tax relating to items recognised outside the consolidated statements of profit or loss is recognised either in other comprehensive income or equity. The carrying amount of deferred tax assets (including MAT credit entitlement) is reviewed at each reporting date and is adjusted to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the asset to be recovered. Unrecognised deferred tax assets are re-assessed Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current income tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority. Deferred tax is provided on temporary differences arising on acquisitions that are categorised as Business Combinations. Deferred tax is recognised at acquisition as part of the assessment of the fair value of assets and liabilities acquired. Subsequently deferred tax is charged or credited in the consolidated statements of profit or loss/other comprehensive income as the underlying temporary difference is reversed. Further, management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Group reflects the effect of uncertainty for each uncertain tax treatment by using either most likely method or expected value method, depending on which method predicts better resolution of the treatment. |
Retirement benefits schemes | N. Retirement benefit schemes The Group operates or participates in a number of defined benefit and defined contribution schemes, the assets of which (where funded) are held in separately administered funds. For defined benefit schemes, the cost of providing benefits under the plans is determined by actuarial valuation each year, separately for each plan, using the projected unit credit method by third party qualified actuaries. Remeasurements , included Past service costs are recognised in the consolidated statements of profit or loss on the earlier of: • the date of the plan amendment or curtailment, and • the date that the Group recognises related restructuring costs. Net interest is calculated by applying a discount rate to the net defined benefit liability or asset at the beginning of the period. Defined benefit costs are split into current service cost, past service cost, net interest expense or income and remeasurement, and gains and losses on curtailments and settlements. Current service cost and past service costs are recognised within cost of sales and administrative expenses and distribution expenses. Net interest expense or income is recognised within finance and other costs. For defined contribution schemes, the amount charged to the consolidated statements of profit or loss in respect of pension costs and other post-retirement benefits is the contributions payable in the year, recognised as and when the employee renders related services. |
Share based payments | O. Share-based payments Certain employees (including executive directors) of the Group receive part of their remuneration in the form of share-based payment transactions, whereby employees render services in exchange for shares or rights over shares (‘equity-settled transactions’). The cost of equity-settled transactions with employees is measured at fair value of share awards at the date at which they are granted. The fair value of share awards is determined with the assistance of an external valuer and the fair value at the grant date is expensed on a proportionate basis over the vesting period based on the Group’s estimate of shares that will eventually vest. The estimate of the number of awards likely to vest is reviewed at each reporting date up to the vesting date at which point the estimate is adjusted to reflect the current expectations. The resultant increase in equity is recorded in share-based payment reserve. In case of cash-settled transactions, a liability is recognised for the fair value of cash-settled transactions. The fair value is measured initially and at each reporting date up to and including the settlement date, with changes in fair value recognised in employee benefits expense. The fair value is expensed over the period until the vesting date with recognition of a corresponding liability. The fair value is determined with the assistance of an external valuer. |
Provisions, contingent liabilities and contingent assets | P. Provisions, contingent liabilities and contingent assets The assessments undertaken in recognising provisions and contingencies have been made in accordance with the applicable IFRS. Provisions represent liabilities for which the amount or timing is uncertain. Provisions are recognised when the Group has a present obligation (legal or constructive), as a result of past events, and it is probable that an outflow of resources, that can be reliably estimated, will be required to settle such an obligation. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows to net present value using an appropriate pre-tax A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence Contingent assets are not recognised but disclosed in the financial statements when an inflow of economic benefit is probable. The Group has significant capital commitments in relation to various capital projects which are not recognised in the consolidated statements of financial position. |
Restoration, rehabilitation and environmental costs | Q. Restoration, rehabilitation and environmental costs An obligation to incur restoration, rehabilitation and environmental costs arises when environmental disturbance is caused by the development or ongoing production of a mine or oil fields. Such costs, discounted to net present value, are provided for and a corresponding amount is capitalised at the start of each project as soon as the obligation to incur such costs arises. These costs are charged to the consolidated statements of profit or loss over the life of the operation through the depreciation of the asset and the unwinding of the discount on the provision. The cost estimates are reviewed periodically and are adjusted to reflect known developments which may have an impact on the cost estimates or life of operations. The cost of the related asset is adjusted for changes in the provision due to factors such as updated cost estimates, changes to lives of operations, new disturbance and revisions to discount rates. The adjusted cost of the asset is depreciated prospectively over the lives of the assets to which they relate. The unwinding of the discount is shown as finance and other costs in the consolidated statements of profit or loss. Costs for the restoration of subsequent site damage which is caused on an ongoing basis during production are provided for at their net present value and charged to the consolidated statements of profit or loss as extraction progresses. Where the costs of site restoration are not anticipated to be material, they are expensed as incurred. |
Accounting for foreign currency transactions and translations | R. Accounting for foreign currency transactions and translations The functional currency for each entity in the Group is determined as the currency In the financial statements of individual group companies, transactions in currencies other than the respective functional currencies are translated into their functional currencies at the exchange rates ruling at the date of the transaction. Monetary assets and liabilities denominated in other currencies are translated into functional currencies at exchange rates prevailing on the reporting date. Non-monetary All exchange differences are included in the consolidated statements of profit or loss except those where the monetary item is designated as an effective hedging instrument of the currency risk of designated forecasted sales or purchases, which are recognised in the other comprehensive income. Exchange differences which are regarded as an adjustment to interest costs on foreign currency borrowings are capitalised as part of borrowing costs in qualifying assets. For the purposes of the consolidation of financial statements, items in the consolidated statements of profit or loss of those businesses for which the Indian Rupees is not the functional currency are translated into Indian Rupees at the average rates of exchange during the year/ exchange rates as on the date of transaction. The related consolidated statements of financial position is translated into Indian rupees at the rates as at the reporting date. Exchange differences arising on translation are recognised in the consolidated statements of other comprehensive income. On disposal of such entities the deferred cumulative exchange differences recognised in equity relating to that particular foreign operation are recognised in the consolidated statements of profit or loss. |
Earnings per share | S. Earnings per share The Group presents basic and diluted earnings per share (“EPS”) data for its equity shares. Basic EPS is calculated by dividing the profit or loss attributable to equity shareholders of the Company 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 potentially dilutive equity shares. |
Treasury Shares | T. Treasury shares The Group has created an Employee Benefit Trust (EBT) for providing share-based payment to its employees. The Group uses EBT as a vehicle for distributing shares to employees under the employee remuneration schemes. The EBT buys shares of the Company from the market for giving shares to employees. The shares held by EBT are treated as treasury shares. Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group’s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognised in equity. Share options, whenever exercised, are satisfied with treasury shares. |
Current and non-current classification | U. Current and non-current The Group presents assets and liabilities in the consolidated statements of financial position based on current / non-current • it is expected to be realized in, or is intended for sale or consumption in, the Group’s normal operating cycle; • it is held primarily for the purpose of being traded; • it is expected to be realized within 12 months after the reporting date; or • it is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least 12 months after the reporting date. All other assets are classified as non-current. A liability is classified as current when it satisfies any of the following criteria: • it is expected to be settled in the Group’s normal operating cycle; • it is held primarily for the purpose of being traded; • it is due to be settled within 12 months after the reporting date; or • the Group does not have an unconditional right to defer settlement of the liability for at least All other liabilities are classified as non-current. Deferred tax assets and liabilities are classified as non-current |
Acceptances | V. Acceptances The Group enters into arrangements whereby banks and financial institutions make direct payments to suppliers for raw materials and project materials. The banks and financial institutions are subsequently repaid by the Group at a later date providing working capital timing benefits. These are normally settled between twelve months (for raw materials) to thirty-six thirty-six |
Cash and cash equivalents and restricted cash and cash equivalents | W. Cash and cash equivalents and restricted cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand, and short-term money market deposits which have a maturity of three months or less from the date of acquisition that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value and are unrestricted as to withdrawal and usage. For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, and additionally includes unpaid dividend account. Restricted cash and cash equivalents in the consolidated statements of financial position comprise cash at bank and in hand, and short-term deposits which have a maturity of three months or less from the date of acquisition and are restricted as to withdrawal and usage. |
Application of new and revised standards | 3(b) Application of new and revised standards The Group has adopted, with effect from April 1, 2021, the following new and revised standards and interpretations. Their adoption did not had any material impact on the amounts reported in the consolidated financial statements. 1. Amendments to IFRS 3 regarding recognition under acquisition method; 2. Amendments to IFRS 7 ( Financial Instruments Disclosure ) ( Financial Instruments: Recognition and Measurement ) ( Insurance Contracts ) ( Leases: IFRS Foundation ) 3. Conceptual framework for financial reporting under IFRS issued by IASB; 4. Amendments to IFRS 16 regarding COVID-19 Standards issued but not yet effective The new and amended standards that are issued, but not yet effective, up to the date of issuance of the Group’s financial statements are noted below: New pronouncement Fiscal year beginning Reference to the Conceptual Framework – Amendments to IFRS 3 January 1, 2022 Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 ( Property, Plant and Equipment: IFRS Foundation January 1, 2022 Onerous Contracts – Costs of Fulfilling a Contract – Amendments to IAS 37 ( Provisions, Contingent Liabilities and Contingent Assets January 1, 2022 AIP IFRS 9 ( Financial Instruments January 1, 2022 Classification of Liabilities as Current or Non-current - Amendments to IAS 1 ( Presentation of Financial Statements January 1, 2023 Definition of Accounting Estimates - Amendments to IAS 8 ( Accounting Policies, Changes in Accounting Estimates and Errors January 1, 2023 Disclosure of Accounting Policies - Amendments to IAS 1 and IFRS Practice Statement 2 ( Making materiality judgements January 1, 2023 The amendments are not expected to have a material impact on the Group. The Group has not early adopted any amendments which has been notified but is not yet effective. |
Significant accounting estimates and judgements | 3(c) Significant accounting estimates and judgements The preparation of consolidated financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions, that affect the application of accounting policies and the reported amounts of assets, liabilities, income, expenses and disclosures of contingent assets and liabilities at the date of these consolidated financial statements and the reported amounts of revenues and expenses for the years presented. These judgments and estimates are based on management’s best knowledge of the relevant facts and circumstances, having regard to previous experience, but actual results may differ materially from the amounts included in the financial statements. 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 and future periods affected. The information about significant areas of estimation uncertainty and critical judgements in applying accounting policies that have the most significant effect on the amounts recognised in the financial statements are as given below: I. Significant Estimates: (i) Carrying value of exploration and evaluation assets Exploration assets are assessed by comparing the carrying value to higher of fair value less cost of disposal or value in use if there are impairment indicators as contained in IFRS 6 ( Exploration for any Evaluation of Mineral resources Details of carrying values and impairment charge/ reversal and the assumptions used are disclosed in Note 14. (ii) Recoverability of deferred tax and other income tax assets The Group has carried forward tax losses, unabsorbed depreciation and MAT credit that are available for offset against future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that taxable profit will be available against which the unused tax losses or tax credits can be utilized. This involves an assessment of when those assets are likely to reverse, and a judgement as to whether or not there will be sufficient taxable profits available to offset the assets. This requires assumptions regarding future profitability, which is inherently uncertain. To the extent assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognised in respect of deferred tax assets and consequential impact in the consolidated statements of profit or loss. Details of total deferred tax assets recognised in these financial statements including MAT credit entitlements are disclosed in Note 9. (iii) Copper operations in Tamil Nadu, India TNPCB had issued a closure order of the Tuticorin Copper smelter, against which the Group had filed an appeal with the National Green Tribunal (“NGT”). NGT had, on August 8, 2013, ruled that the Copper smelter could continue its operations subject to implementation of recommendations of the Expert Committee appointed by the NGT. The TNPCB has filed an appeal against the order of the NGT before the Hon’ble Supreme Court of India. In the meanwhile, the application for renewal of Consent to Operate (“CTO”) for existing copper smelter was rejected by the TNPCB in April 2018. The Group has filed an appeal before the TNPCB Appellate Authority challenging the Rejection Order. During the pendency of the appeal, the TNPCB vide its order dated May 23, 2018 ordered closure of existing copper smelter plant with immediate effect. Further, the Government of Tamil Nadu issued orders on the same date with a direction to seal the existing copper smelter plant permanently. The Group believes these actions were not taken in accordance with the procedure prescribed under applicable laws. Subsequently, the Directorate of Industrial Safety and Health passed orders dated May 30, 2018 directing the immediate suspension and revocation of the Factory License and the Registration Certificate for the existing smelter plant. The Group appealed this before the NGT. NGT vide its order on December 15, 2018 has set aside the impugned orders and directed the TNPCB to pass fresh orders for renewal of consent and authorization to handle hazardous substances, subject to appropriate conditions for protection of environment in accordance with law. The State of Tamil Nadu and TNPCB approached the Hon’ble Supreme Court in Civil Appeals on January 2, 2019 challenging the judgement of the NGT dated December 15, 2018 and the previously passed judgement of NGT dated August 8, 2013. The Supreme Court vide its judgement dated February 18, 2019 set aside the judgements of NGT dated December 15, 2018 and August 8, 2013 solely on the basis of maintainability and directed the Group to file an appeal in High court. The Group had filed a writ petition before Madras High Court challenging the various orders passed against the Group in 2018 and 2013. On August 18, 2020, the Madras High Court delivered the judgement wherein it dismissed all the Writ Petitions filed by the Group. The Group has approached the Supreme Court and challenged the said High Court order by way of a Special Leave Petition (“SLP”) to Appeal and filed an interim relief for care & maintenance of the plant or trial run for certain period. The Matter was then listed on December 2, 2020 before the Supreme Court, which after having heard both sides concluded that at this stage the interim relief in terms of trial run could not be allowed. The hearing on care & maintenance could not be listed at the Supreme Court. Further, considering the voluminous nature of documents and pleadings, the matter shall be finally heard on merits. As per the Group’s assessment, it is in compliance with the applicable regulations The Group has carried out an impairment analysis for existing plant assets during the year ended March 31, 2022 considering the key variables and concluded that there exists no impairment. The Group has done an additional sensitivity analysis with commencement of operations of the existing plant w.e.f. April 1, 2025 and noted that the recoverable amount of the assets would still be in excess of their carrying values. The carrying value of the assets as at March 31, ₹ ₹ Expansion Project: Separately, the Group filed a fresh application for renewal of the Environmental Clearance (EC) for the proposed Copper Smelter Plant 2 (Expansion Project) on March 12, 2018 before the Expert Appraisal Committee of the Ministry of Environment and Forests and Climate Change (“MoEFCC”) wherein a sub-committee In the meantime, the Madurai Bench of the High Court of Madras, in a Public Interest Litigation, held vide its order dated May 23, 2018 that the application for renewal of the EC for the Expansion Project shall be processed after a mandatory public hearing, and in the interim, ordered the Group to cease construction and all other activities on site for the proposed Expansion Project with immediate effect. The MoEFCC has delisted the expansion project since the matter is sub-judice. acres of the land allotted for the proposed Expansion Project. Further, the TNPCB issued orders on June 7, 2018 directing the withdrawal of the Consent to Establish (“CTE”) which was valid till March 31, 2023. The Group has approached the Madras High Court by way of writ petition challenging the cancellation of lease deeds by SIPCOT pursuant to which an interim stay has been granted. The Group has also filed Appeals before the TNPCB Appellate Authority challenging withdrawal of CTE by the TNPCB, the matter is pending for adjudication. Considering the delay in existing plant matter and delay in getting the required approval for expansion project, management has recorded a provision for impairment of ₹ f ₹ ₹ million) in fiscal years ending March 31, 2021 and as at March 31, 2022, respectively, approximating its recoverable value. Property, plant and equipment of ₹ ₹ material. On June 17, 2022, Board of Directors of the Company adopted a resolution to explore various options to potentially sell, in whole or in part, its Copper plant and associated facilities at Tuticorin. Accordingly, an Expression of Interest in this regard has been released on June 20, 2022. However, these evaluations are only exploratory in nature and no firm commitments have been executed at this stage. iv) PSC Extension Rajasthan Block The Group operates an oil and gas production facility in Rajasthan under a Production Sharing Contract (“PSC”). The management is of the opinion that the Group is eligible for an automatic extension of the PSC for Rajasthan (“RJ”) block on the same terms w.e.f. May 15, 2020 while Government of India (“GOI”), in October 2018, accorded its approval for extension of the PSC under the Pre-NELP (“Pre-NELP years. As per the said policy and extension letter, the Group is required to comply with certain conditions and pay an % Profit Petroleum (“PP”) to GOI. The Group had challenged the applicability of the Pre NELP-Policy to the RJ block. The Division Bench of the Delhi High Court in March 2021 set aside the single judge order of May 2018 which allowed automatic extension of PSC. Nevertheless, GOI in their submissions to the Delhi High Court has not objected to Vedanta obtaining 10-year extension of RJ PSC. The legal dispute only relates to % PP rather than Vedanta’s right to obtain 10-year % PP claimed from May 15, 2020 to GoI. The Group has also filed an SLP in the Hon’ble Supreme Court against above Delhi High Court order and revised date for SLP listing is awaited. In parallel, the Group is in discussion with the ministry of petroleum and natural gas (“MoPNG”) on execution of a PSC addendum. One of the conditions for extension of PSC relates to notification of certain audit exceptions raised for FY 2016 -17 de-linked . The Directorate General of Hydrocarbons (“DGH”), in May 2018, has raised a demand on the Group and its subsidiary for the period up to March 31, 2017 for Government’s additional share of PP based on its computation of disallowance of cost incurred in excess of the initially approved Field Development Plan (“FDP”) of pipeline project for ₹ re-allocation ₹ re-allocation ₹ up to ₹ On April 28, 2022, DGH up to US $ 259 million for above mentioned matters. Demand of US $ 202 million previously raised in May 2018 in respect of disallowance of costs incurred in excess of initially approved FDP of pipeline project has been removed as the revised pipeline project cost over the initial approved FDP was approved in September 2021. The Group believes that it has sufficient, as well as reasonable, basis pursuant to the PSC provisions and related approvals, supported by legal advice, for having claimed such costs and for allocating common costs between different DAs. In the Group’s opinion, these computations of the aforesaid demand / audit exceptions are not appropriate, and the accounting adjustments sought for issues pertaining to Year 2007 and onwards are based on assumptions that are not in consonance with the approvals already in place. The Group’s view is also supported by independent legal opinion and the Group has been following the process set out in PSC to resolve these aforesaid matters. The Group has also invoked the PSC process for resolution of disputed exceptions and has issued notice for arbitration and an arbitration tribunal (“Tribunal”) stands constituted. Further, on September 23, 2020, the GOI had filed an application for interim relief before Delhi High Court seeking payment of all disputed dues. The matter was heard on September 25, 2020 wherein the Delhi High Court has not passed any ex parte orders. The matter is now listed for hearing on August 29, 2022. Also, on Vedanta’s application under section 17 of the Arbitration and Conciliation Act, 1996, the Tribunal in December 2020 ordered that GOI should not take any action to enforce any of the amounts at issue in this arbitration against the Claimants (the Company and CIHL) during the arbitral period. The GOI has challenged the said order before the Delhi High Court under the said Act. This matter is also scheduled for hearing. The Group has also filed application under Sec 151 of Code of Civil Procedure (CPC) read with Section 9 of the Arbitration & Conciliation Act 1996 requesting Delhi High Court to direct GOI to extend the PSC for 10 years without insisting upon a payment of disputed dues under audit exceptions which have been already referred to arbitration. On April 12, 2022, basis the application, Delhi High Court has issued notice to GOI intimating application filed by the Group. The matter is yet to be heard. In management’s view, the above-mentioned condition on demand raised by the DGH for additional petroleum linked to PSC extension is untenable and has not resulted in creation of any liability and cannot be a ground for non-extension. Simultaneously, the Group is also pursuing with the GOI for executing the RJ PSC addendum at the earliest. In view of extenuating circumstances surrounding COVID-19 (v) ESL had filed application for renewal of Consent to Operate (CTO) on August 24, 2017 for the period of five years which was denied by Jharkhand State Pollution Control Board (‘JSPCB’) on August 23, 2018, as JSPCB awaited response from MoEFCC over a 2012 show-cause notice. After a personal hearing towards the show cause notice, the MoEFCC also revoked the EC on September 20, 2018. The Hon’ble High Court of Jharkhand granted stay against both the above orders and allowed the continuous running of the plant operations under regulatory supervision of the JSPCB. The Jharkhand High Court on September 16, 2020 passed an order vacating the interim stay in place beyond September 23, 2020 while listing the matter for final hearing. ESL urgently filed a petition in the Supreme Court, and on September 22, 2020, ESL was granted permission to run the plant till further orders. The Forest Advisory Committee (FAC) of MoEFCC granted the Stage 1 clearance and the MoEFCC approved the related Terms of Reference (“TOR”) on August 25, 2020. ESL presented its proposal before the Expert Appraisal Committee (“EAC”) after completing the public consultation process and the same has been recommended for grant of EC subject to Forest Clearance (“FC”) by the EAC in its 41st meeting dated July 29 and 30, 2021. Vide letter dated August 25, 2021, the MoEFCC rejected the EC “as of now” due to stay granted by Madras High Court vide order dated July 15, 2021 in a Public Interest Litigation filed against the Standard Operating Procedure which was issued by the MoEFCC for regularization of violation case on July 7, 2021. The Hon’ble Supreme Court of India vide order dated December 9, 2021 decided the matter by directing MoEFCC to process the EC application of ESL as per the applicable law within a period of three months. The MoEFCC vide its letter dated February 2, 2022 has deferred the grant of EC till FC Stage-II is granted to ESL. ESL has submitted its reply against the MoEFCC letter vide letter dated February 11, 2022 for reconsidering the decision of linking EC with FC as the grant of FC Stage-II is not a condition precedent for grant of EC. As per Stage 1 clearance, the Group is required to provide non-forest ₹ million as part of cost of sales in the financial statements for the year ended March 31, 2021 with respect to the costs to be incurred by it for obtaining EC and additional ₹ ) has been provided against final order relating to wildlife conservation plan received during the current year. (vi) Oil and Gas reserves Significant technical and commercial judgements are required to determine the Group’s estimated oil and natural gas reserves. Reserves considered for computing depletion are proved reserves for acquisition costs and proved and developed reserves for successful exploratory wells, development wells, processing facilities, distribution assets, estimated future abandonment cost and other related costs. Reserves for this purpose are considered on working interest basis which are reassessed at least annually. Changes in reserves as a result of change in management assumptions (see vii below) (vii) Carrying value of developing/producing oil and gas assets Management performs impairment tests on the Group’s developing/producing oil and gas assets where indicators of impairment are identified in accordance with IAS 36. The impairment assessments are based on a range of estimates and assumptions, including: Estimates/ assumptions Basis Future production proved and probable reserves, production facilities, resource estimates and expansion projects Commodity prices management’s best estimate benchmarked with external sources of information, to ensure they are within the range of available analyst forecast Discount to price management’s best estimate based on historical prevailing discount and updated sales contracts Extension of PSC granted till 2030 on the expected commercial terms (Refer Note 3(c)(I)(iv) Discount rates cost of capital risk-adjusted for the risk specific to the asset/ CGU Any subsequent changes to cash flows due to changes in the above-mentioned factors could impact the carrying value of the assets. Details of carrying values and impairment charge and the assumptions used are disclosed in Note 14. (viii) Impact of Taxation Laws (Amendment) Act, 2019 Pursuant to the introduction of Section 115BAA of the Income Tax Act, 1961 which is effective April 1, 2019, companies in India have the option to pay corporate income tax at the rate of 22% plus applicable surcharge and cess as against the earlier rate of 30% plus applicable surcharge and cess, subject to certain conditions like, the Company has to forego all benefits like tax holidays, brought forward losses generated through tax incentives/additional depreciation and outstanding MAT credit. Considering all the provisions under Section 115BAA and based on the expected timing of exercising of the option under Section 115BAA, the Group has remeasured its deferred tax balances as at March 31, 2022. This computation required assessment of assumptions regarding future profitability, which is inherently uncertain. To the extent assumptions regarding future profitability II. Significant Judgements: (i) Determining whether an arrangement contains a lease: The Group has ascertained that the Power Purchase Agreement (PPA) executed between one of the subsidiaries and a state grid qualifies to be an operating lease under IFRS 16. Accordingly, the consideration receivable under the PPA relating to recovery of capacity charges towards capital cost have been recognised as operating lease rentals and in respect of variable cost that includes fuel costs, operations and maintenance, etc. is considered as revenue from sale of products/services. Significant judgement is required in segregating the capacity charges due from the State grid between fixed and contingent payments. The Group has determined that since the capacity charges under the PPA are based on the number of units of electricity made available, which would be subject to variation on account of various factors like availability of coal and water for the plant, there are no fixed minimum payments under the PPA, which requires it to be accounted for on a straight line basis. The contingent rents recognised are disclosed in Note 6. (ii) Contingencies In the normal course of business, contingent liabilities may arise from litigation, taxation and other claims against the Group. A provision is recognised when the Group has a present obligation as a result of past events, and it is probable that the Group will be required to settle that obligation. Where it is management’s assessment that the outcome cannot be reliably quantified or is uncertain, the claims are disclosed as contingent liabilities unless the likelihood of an adverse outcome is remote. Such liabilities are disclosed in the notes but are not provided for in the consolidated financial statements. When considering the classification of legal or tax cases as probable, possible or remote, there is judgement involved. This pertains to the application of the legislation, which in certain cases is based upon management’s interpretation of country specific applicable law, in particular India, and the likelihood of settlement. Management uses in-house Although there can be no assurance regarding the final outcome of the legal proceedings, the Group does not expect them to have a materially adverse impact on the Group’s financial position, profitability or cash flows. These are set out in Note 33. (iii) Revenue recognition and receivable recovery in relation to the power division In certain cases, the Group’s power customers are disputing various contractual provisions of PPA’s. Significant judgement is required in both assessing the tariff to be charged under the PPA in accordance with IFRS 15 and to assess the recoverability of withheld revenue currently accounted for as receivables. In assessing this critical judgment management, considered favourable external legal opinions the Group has obtained in relation to the claims and favourable court judgements in the related matter. In addition, the fact that the contracts are with government owned companies implies the credit risk is low. Refer Note 17. |
Significant accounting polici_2
Significant accounting policies (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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Summary of Estimated useful life of assets | Estimated useful life of assets are as follows: ASSET Useful life (in years) Buildings (residential; factory etc.) 3 - 60 Plant and equipment 15 - 40 Railway sidings 15 Office equipment 3 - 6 Furniture and fixtures 8 - 10 Vehicles 8 - 10 |
Summary of effective date of new pronouncement | The new and amended standards that are issued, but not yet effective, up to the date of issuance of the Group’s financial statements are noted below: New pronouncement Fiscal year beginning Reference to the Conceptual Framework – Amendments to IFRS 3 January 1, 2022 Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 ( Property, Plant and Equipment: IFRS Foundation January 1, 2022 Onerous Contracts – Costs of Fulfilling a Contract – Amendments to IAS 37 ( Provisions, Contingent Liabilities and Contingent Assets January 1, 2022 AIP IFRS 9 ( Financial Instruments January 1, 2022 Classification of Liabilities as Current or Non-current - Amendments to IAS 1 ( Presentation of Financial Statements January 1, 2023 Definition of Accounting Estimates - Amendments to IAS 8 ( Accounting Policies, Changes in Accounting Estimates and Errors January 1, 2023 Disclosure of Accounting Policies - Amendments to IAS 1 and IFRS Practice Statement 2 ( Making materiality judgements January 1, 2023 |
Segment information (Tables)
Segment information (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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Schedule of Revenue and Profit Information and Certain Assets | a. Year ended March 31, 2020 Copper Zinc India Zinc International Aluminium Power Iron Oil and Gas Others Elimination Total ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in Revenue Sales 90,517 181,590 31,275 265,445 58,599 34,500 126,608 46,912 — 835,446 Inter-segment sales 9 — — 328 — 130 — 913 (1,380 ) — Segment revenue 90,526 181,590 31,275 265,773 58,599 34,630 126,608 47,825 (1,380 ) 835,446 Cost of sales and expenses (1) (93,420 ) (94,450 ) (27,477 ) (245,837 ) (42,109 ) (26,318 ) (53,925 ) (43,187 ) 1,380 (625,343 ) Segment profit / (loss) (2,894 ) 87,140 3,798 19,936 16,490 8,312 72,683 4,638 — 210,103 Depreciation and amortisation (1,471 ) (22,610 ) (6,329 ) (17,183 ) (5,701 ) (2,413 ) (40,077 ) (4,706 ) — (100,490 ) Impairment (Refer Note14) (6,692 ) — — — — (1,201 ) (135,031 ) (5,098 ) — (148,022 ) Other items* (2,028 ) — (42 ) 1,681 — — — — — (1,525 ) Operating profit / (loss) (13,085 ) 64,530 (2,573 ) 4,434 10,789 4,698 (102,425 ) (5,166 ) — (39,934 ) Investment and other income 25,714 Finance and other costs (54,557 ) Loss before tax (68,777 ) Additions to property, plant and equipments, exploration and evaluation assets and intangible assets** 2,192 46,088 7,552 14,187 671 1,081 45,490 2,373 119,668 (1) Expenses includes Distribution and administrative expenses excluding non cash items disclosed separately. * Other items represent provision for receivables from KCM of ₹ ₹ ₹ ** The total of additions includes ₹ b. Year ended March 31, 2021 Copper Zinc India Zinc International Aluminium Power Iron Oil and Gas Others Elimination Total ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in Revenue Sales 108,879 219,316 27,290 285,756 53,752 44,875 75,308 53,454 — 868,630 Inter-segment sales 18 — — 686 — 409 — 313 (1,426 ) — Segment revenue 108,897 219,316 27,290 286,442 53,752 45,284 75,308 53,767 (1,426 ) 868,630 Cost of sales and expenses (1) (110,650 ) (103,116 ) (19,190 ) (208,919 ) (39,682 ) (27,108 ) (43,142 ) (44,634 ) 1,426 (595,015 ) Segment profit / (loss) (1,753 ) 116,200 8,100 77,523 14,070 18,176 32,166 9,133 — 273,615 Depreciation and amortisation (1,533 ) (24,617 ) (3,211 ) (16,926 ) (5,749 ) (2,208 ) (21,274 ) (5,660 ) — (81,178 ) Asset u construction written off (Refer Note 14) — — — (1,811 ) — — — (629 ) — (2,440 ) Other items* (2,086 ) — (40 ) 950 — — — (2,135 ) — (3,145 ) Operating profit / (loss) (5,372 ) 91,583 4,849 59,736 8,321 15,968 10,892 709 — 186,852 Investment and other income 32,177 Finance and other costs (52,955 ) Profit before tax 166,074 Assets and liabilities Assets Segment assets# 59,570 200,072 60,740 477,070 163,620 33,039 181,108 78,160 — 1,253,379 Financial assets investments 1,532 Deferred tax asset 73,958 Short-term investments 281,775 Cash and cash equivalents (including restricted cash and cash equivalents) 49,563 Income tax assets 27,549 Loans to related party 70,712 Others 12,779 Total assets 1,771,247 Liabilities Segment liabilities# 43,277 47,217 10,672 156,994 18,405 12,269 111,776 21,126 421,736 Borrowings 569,222 Current tax liabilities 2,792 Deferred tax liabilities 21,894 Others 21,554 Total liabilities 1,037,198 Additions to property, plant and equipments, exploration and evaluation assets and intangible assets** 622 25,163 3,754 17,135 267 985 15,192 6,019 69,155 (1) Expenses includes Distribution and administrative expenses excluding non cash items disclosed separately. * Other items represent provision for receivables from KCM of ₹ ₹ ₹ ₹ ** The total of additions includes ₹ ₹ # Restated. Refer Note 2(c) c. Year ended March 31, 2022 Copper Zinc India Zinc International Aluminium Power Iron Oil and Gas Others Elimination Total Total ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars Revenue Sales 151,511 286,241 44,841 508,091 55,005 62,330 124,301 79,597 — 1,311,917 17,292 Inter-segment sales — — 3 718 3,250 1,170 — 118 (5,259 ) — — Segment revenue 151,511 286,241 44,844 508,809 58,255 63,500 124,301 79,715 (5,259 ) 1,311,917 17,292 Cost of sales and expenses (1) (152,642 ) (124,621 ) (29,501 ) (335,435 ) (47,439 ) (40,830 ) (64,415 ) (69,332 ) 5,259 (858,956 ) (11,321 ) Segment profit/(loss) (1,131 ) 161,620 15,343 173,374 10,816 22,670 59,886 10,383 — 452,961 5,971 Depreciation and (1,467 ) (28,082 ) (5,126 ) (19,960 ) (5,700 ) (2,385 ) (22,949 ) (5,479 ) — (91,148 ) (1,201 ) Impairment reversal/(charge)** — — — — — — 62,745 — — 62,745 827 Exploration cost written off** — — — — — — (26,181 ) — — (26,181 ) (345 ) Asset under construction written off** — — — — — — — (701 ) — (701 ) (9 ) Other Items* (2,126 ) (1,342 ) (46 ) (3,757 ) (370 ) — — (69 ) — (8,049 ) (108 ) Operating profit/(loss) (4,724 ) 132,196 10,171 149,657 4,746 20,285 73,501 4,134 — 389,627 5,135 Investment and other income 19,947 263 Finance and other costs (49,427 ) (651 ) Profit before tax 360,147 4,747 Assets and liabilities Assets Segment assets 56,569 2,15,297 69,938 535,182 160,665 46,027 262,757 91,395 — 1,437,830 18,951 Financial assets investments 1,472 19 Deferred tax asset 64,537 851 Short-term investments 235,932 3,110 Cash and cash equivalents (including restricted cash and cash equivalents) 91,383 1,205 Income tax assets 27,877 367 Others 70,476 929 Total assets 1,929,507 25,432 Liabilities Segment liabilities 49,703 50,191 11,594 173,784 17,152 25,171 161,376 26,679 515,650 6,796 Borrowings 530,967 6,999 Current tax liabilities 9,192 121 Deferred tax liabilities 52,988 698 Others 13,588 181 Total liabilities 1,122,385 14,795 Additions to property, plant and equipments, exploration and evaluation assets and intangible assets*** 395 38,284 11,037 35,835 1,067 2,965 17,875 12,812 — 120,469 1,588 (1) Expenses includes Distribution and administrative expenses excluding non cash items disclosed separately. * Other items represent provision for receivables from KCM of ₹ ₹ N ₹ ₹ ₹ ₹ ** Refer Note 14B(1) and 14B(2). *** The total of additions includes ₹ |
Schedule of Geographical Segment Analysis | The Group’s operations are located in India, Namibia, South Africa, UAE, Liberia, Ireland, Australia, South Korea and Taiwan. The following table provides an analysis of the Group’s sales by geographical market irrespective of the origin of the goods: Year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars in million) India 542,256 536,212 736,192 9,703 Europe 40,224 35,960 210,282 2,772 China 26,942 52,213 96,671 1,274 The United States of America 17,068 11,634 34,871 460 Mexico 6,496 9,318 23,111 305 Malaysia 76,479 71,092 5,480 72 Oth e 125,981 152,201 205,310 2,706 835,446 868,630 1,311,917 17,292 |
Analysis of Carrying Amount of Non-Current Assets, Being Property, Plant and Equipment, Exploration and Evaluation Assets and Other Intangible Assets and Leasehold Land Prepayments Analysed by Geographical Area | The following is an analysis of the carrying amount of non-current non-current which As at March 31 2021 2022 2022 Carrying amount Carrying Amount Carrying Amount ( ₹ in ( ₹ in (US dollars in million) India 954,629 1,008,838 13,297 South Africa 44,486 51,048 673 Namibia 8,870 9,904 131 Taiwan 10,029 8,928 118 Others 7,883 6,456 85 1,025,897 1,085,174 14,304 Information about major customer No single customer has accounted for more than 10% of the Group’s revenue for the year ended March 31, 2022. (March 31, 2020: No Customer and March 31, 2021: Revenue from one customer amounted to ₹ segment.) |
Summary of Disaggregated Revenue from Contracts with Customers | Below table summarises the disaggregated revenue from contracts with customers: — Year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Oil 109,062 64,798 102,751 1,354 Gas 7,945 6,837 17,119 226 Zinc Metal 157,559 166,343 247,092 3,257 Lead Metal 34,702 38,803 42,400 559 Silver Metal & Bars 24,756 43,949 42,151 556 Iron Ore 14,820 21,734 23,538 310 Metallurgical Coke 553 2,565 4,065 54 Pig Iron 22,394 24,249 41,231 543 Copper Products 73,489 102,049 142,812 1,882 Aluminium Products 254,293 283,944 512,535 6,755 Power 44,064 36,509 38,861 512 Steel Products 37,850 39,663 56,977 751 Ferro Alloys — 2,740 8,300 109 Others 37,465 21,261 31,173 412 Revenue from contracts with customers* 818,952 855,444 1,311,005 17,280 Revenue from contingent rents 16,729 15,147 13,812 182 Loss on provisionally priced contracts under IFRS 9 (Refer Note 6(a)) (12,995 ) (1,961 ) (12,900 ) (170 ) JV partner’s share of the exploration costs approved under the OM (Refer Note 6(b)) 12,760 — — — Total Revenue 835,446 868,630 1,311,917 17,292 * Includes ₹ ₹ ₹ , |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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Detailed Information about Revenue | For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Sale of products 816,558 851,244 1,295,098 17,070 Sale of services 2,159 2,239 3,007 40 Revenue from contingent rents 16,729 15,147 13,812 182 835,446 868,630 1,311,917 17,292 a) Revenue from sale of products and from sale of services comprises of revenue from contracts with customers of ₹ ₹ ₹ million) for the years ended March 31, 2020, March 31, 2021 and March 31, 2022, respectively, and a net loss on mark-to-market of ₹ ₹ ₹ million) on account of gains/losses relating to sales of product that were provisionally priced as at the beginning of the respective year with the final price settled during the subsequent year s b) Government of India (GoI) vide Office Memorandum (“OM”) No. O-19025/10/2005-ONG-DV ₹ the c) Majority of the Group’s sales are against advances or are against letters of credit/cash against documents/guarantees of banks of national standing. Where sales are made on credit, the amount of consideration does not contain any significant financing component as payment terms are within three months. As per the terms of the contract with its customers, either all performance obligations are to be completed within one year from the date of such contracts or the Group has a right to receive consideration from its customers for all completed performance obligations. Accordingly, the Group has availed the practical expedient available under paragraph 121 of IFRS 15 and dispensed with the additional disclosures with respect to performance obligations that remained unsatisfied (or partially unsatisfied) at the reporting date. Further, since the terms of the contracts directly identify the transaction price for each of the completed performance obligations, in all material respects, there are no elements of transaction price which have not been included in the revenue recognised in the financial statements. Further, there is no material difference between the contract price and the revenue from contract with customers. |
Investment and other income (Ta
Investment and other income (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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Detailed Information about Investment and Other Income | For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Fair value gain on financial assets held for trading / fair value through profit or loss (FVTPL) (1) 5,574 9,340 2,087 28 Interest and dividend Income: Interest income on financial assets held for trading/FVTPL 10,169 4,779 3,925 52 Interest income on bank deposits at amortized cost 2,183 5,649 5,371 70 Interest income on loans and receivables at amortized cost (Refer Note 35(b)) 4,518 9,806 9,538 126 Other interest income 287 810 21 0 Dividend income on available for sale investments held at FVOCI 17 17 16 0 Dividend income – financial assets held for trading/FVTPL 477 13 2 0 Bargain gain net of acquisition cost — 1,232 — — Foreign exchange gain/ (loss) net 2,489 531 (1,013 ) (13 ) 25,714 32,177 19,947 263 Notes: (1) Income for the year ended March 31, 2020 includes mark to market loss of ₹ million relating to structured investments purchased from Volcan Investments Limited (Refer Note 35(f)). |
Finance and other costs (Tables
Finance and other costs (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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Detailed Information about Finance and Other Costs | For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Interest expense on financial liabilities at amortised cost (1) 56,175 51,844 47,124 621 Unwinding of discount on provisions 962 721 777 10 Net foreign exchange loss/(gain) on borrowings and creditors for capital expenditure 4,789 (180 ) 1,455 19 Transaction costs paid to the ultimate parent company (Refer Note 35(f)) — 1,032 — — Other finance costs 2,588 2,502 2,985 39 Net interest on defined benefit arrangements 212 194 212 3 Capitalisation of finance costs (2) (10,169 ) (3,158 ) (3,126 ) (41 ) 54,557 52,955 49,427 651 Notes: (1) Includes interest expense on lease liabilities for the year ended March 31, 2020, March 31, 2021 and March 31, 2022 of ₹ ₹ ₹ ( 2 Interest rate of 7.49%, 6.91% and 7.87% was used to determine the amount of general borrowing costs eligible for capitalization in respect of qualifying asset for the year ended March 31, 2020, March 31, 2021 and March 31, 2022 respectively. |
Income tax expense (Tables)
Income tax expense (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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Summary of Major Components of Income Tax Expense | (a) Tax charge/ (credit) recognised in the consolidated statement of profit or loss For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Current tax: Current tax on profit for the year 17,911 20,671 63,119 832 Credit in respect of current tax for earlier years (33 ) (14 ) (25 ) (0 ) Total current tax (a) 17,878 20,657 63,094 832 Deferred tax: Reversal and origination of temporary differences (44,562 ) (1,546 ) 40,807 538 Charge/(Credit) in respect 7 (27 ) (833 ) (11 ) Total Deferred Tax (b) (44,555 ) (1,573 ) 39,974 527 Total income tax (credit)/expense for the year (a+b) (26,677 ) 19,084 103,068 1,359 (Loss)/Profit (68,777 ) 166,074 360,147 4,747 Effective income tax rate (%) 38.8 % 11.5% 28.6% 28.6% |
Reconciliation of Income Tax Expense/(Credit) Applicable to Accounting Profit/(Loss) Before Tax at the Statutory Income Tax Rate to Recognized Income Tax Expense/(Credit) for the year at the Group's Effective Tax Rate | (b) For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars (Loss)/Profit before tax (68,777 ) 166,074 360,147 4,747 Indian statutory income tax rate 34.94 % 34.94 % 34.94 % 34.94 % Tax at Indian statutory income tax rate (24,033 ) 58,034 125,850 1,659 Non-taxable income (1,406 ) (1,227 ) (1,366 ) (18 ) Tax holidays and similar exemptions (Refer Notes below) (4,934 ) (7,710 ) (19,559 ) (258 ) Effect of tax rates differences of subsidiaries operating at other rates (581 ) (3,625 ) 2,750 36 Tax on distributable reserve of/ dividend from subsidiary # 19,532 8,690 — — Unrecognized tax assets (Net)* (713 ) (31,932 ) 98 1 Change in deferred tax balances due to change in tax law** (17,760 ) (3,125 ) (2,715 ) (36 ) Capital gains/Other income subject to lower tax rate (2,733 ) (1,756 ) (3,435 ) (45 ) Credit in respect of earlier years (26 ) (41 ) (858 ) (11 ) Other permanent differences 5,977 1,776 2,303 31 Total income tax expense/(credit) (26,677 ) 19,084 103,068 1,359 # Consequent to the declaration of dividend (including from accumulated profits) by the subsidiaries, the unabsorbed depreciation as per tax laws have been utilized by Vedanta Limited leading to a deferred tax charge of ₹ 19,532 ₹ 8,690 * In June 2018, the Company acquired majority stake in ESL Steel Limited (“ESL”), which has since been focusing on operational turnaround. Based on management’s estimate of future outlook, financial projections and requirements of IAS 12 (Income taxes), ESL has recognized deferred tax assets of ₹ 31,823 million during the year ended March 31, 2021. During the year ended March 31, 2022, ESL derecognized deferred tax assets on losses expired in the current year amounting to ₹ 1,220 million ($ 16 million). B ased on revised financial forecasts, management is confident of realising the remaining deferred tax assets fully. ** Deferred tax charge for the year ended March 31, 2020 includes deferred tax credit of ₹ million on remeasurement of deferred tax balance as at March 31, 2019. Also, refer Note 3(c)(I)(viii). |
Schedule of Components of Deferred Tax Assets and Liabilities | (c) Deferred tax assets/liabilities The Group has recorded significant amounts of deferred tax. The majority of the deferred tax liabilities represents accelerated tax relief for the depreciation of property plant and equipment, the depreciation of mining reserves and the fair value uplifts created on acquisitions, net of losses carried forward by the Group and unused tax credits in the form of MAT credits carried forward in the Group. Significant components of Deferred tax (assets) and liabilities recognized in the consolidated statement of financial position are as follows: For the year ended March 31, 2020: Opening Charged/ Charged/ Exchange Closing Significant components of deferred tax (assets)/liabilities ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in Property, plant and equipment, exploration and evaluation and other intangible assets 139,548 (61,429 ) — (93 ) 78,026 Voluntary retirement scheme (395 ) 111 — — (284 ) Employee benefits (1,098 ) 6 (714 ) 49 (1,757 ) Fair value of derivative asset/ liability (357 ) (69 ) 324 — (102 ) Fair valuation of other asset/liability 8,471 911 (1 ) 593 9,974 MAT credit entitlement (103,243 ) 11,605 251 129 (91,258 ) Unabsorbed depreciation and business losses (45,655 ) (9,223 ) — — (54,878 ) Other temporary differences (5,947 ) 13,533 (590 ) 289 7,285 Total (8,676 ) (44,555 ) (730 ) 967 (52,994 ) For the year ended March 1 Opening Charged/ Charged/ Charged to Deferred tax Exchange Closing Significant components of deferred tax (assets)/liabilities ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in Property, plant and equipment, e e 78,026 (145 ) — — 498 1,647 80,026 Voluntary retirement scheme (284 ) (246 ) — — — — (530 ) Employee benefits (1,757 ) (222 ) 104 319 — (94 ) (1,650 ) Fair value of derivative asset/ liability (102 ) 93 (256 ) — — — (265 ) Fair valuation of other asset/liability 9,974 (2,422 ) 9 — — (277 ) 7,284 MAT credit entitlement* (91,258 ) 8,621 249 — — 30 (82,358 ) Unabsorbed depreciation and business losses (54,878 ) 7,837 — — — — (47,041 ) Other temporary differences 7,285 (15,089 ) 352 — 104 (182 ) (7,530 ) Total (52,994 ) (1,573 ) 458 319 602 1,124 (52,064 ) For the year ended March 31, 202 2 Opening Charged/ Charged/ Charged to Exchange Closing Closing Significant components of deferred tax (assets)/liabilities ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars Property, plant and equipment, Exploration and e 80,026 27,793 — — 924 108,743 1,433 Voluntary retirement scheme (530 ) 151 — — — (379 ) (5 ) Employee benefits (1,650 ) (2,008 ) (13 ) 102 (114 ) (3,683 ) (49 ) Fair value of derivative asset/ liability (265 ) (207 ) (387 ) — — (859 ) (11 ) Fair valuation of other asset/liability 7,284 (314 ) — — (418 ) 6,552 86 MAT credit entitlement* (82,358 ) 15,047 (75 ) (157 ) (42 ) (67,585 ) (891 ) Unabsorbed depreciation and business losses (47,041 ) 2,077 — — — (44,964 ) (593 ) Other temporary differences (7,530 ) (2,565 ) 741 — (20 ) (9,374 ) (123 ) Total (52,064 ) 39,974 266 (55 ) 330 (11,549 ) (153 ) |
Net deferred tax (assets)/liability | Accordingly, the net deferred tax (assets)/liability has been disclosed in the consolidated statement of financial position as follows: As at March 31, 2021 2022 2022 Particulars ( ₹ in ( ₹ in (US dollars Deferred tax assets (73,958 ) (64,537 ) (851 ) Deferred tax liabilities 21,894 52,988 698 Net deferred tax (asset)/ liability (52,064 ) (11,549 ) (153 ) * Recognition of deferred tax assets on MAT credits entitlement is based on the respective legal entity’s present estimates and business plans as per which the same is expected to be utilized within the stipulated fifteen-year period from the date of origination. MAT credit entitlements of ₹ 82,358 million and ₹ 67,585 million ($ 891 million) as at March 31, 2021 and March 31, 2022, respectively, of which ₹ 3,400 million as at March 31, 2021 and ₹ 2,080 million ($ 28 million) as at March 31, 2022 is expected to be utilised in the fourteenth year, fifteen years being the maximum permissible time period to utilise the MAT credits. |
Summary of Unused Tax Losses | As at March 31, 2021 Unused tax losses/ unused tax credit Within ₹ in Greater than ₹ in Greater than ₹ in No expiry ₹ in Total ₹ in Unutilized business losses 1,966 22,220 30,753 18,870 73,809 Unabsorbed depreciation 105 1,014 2,979 23,533 27,631 Unused capital losses — 4 — — 4 Unutilised R&D t c — — — 97 97 Total 2,071 23,238 33,732 42,500 101,541 As at March 31, 2022 Unused tax losses/ unused tax credit Within ₹ in Greater than ₹ in Greater than ₹ in No expiry ₹ in Total ₹ in Total Unutilized business losses 311 32,170 31,163 20,052 83,696 1,103 Unabsorbed depreciation — 0 0 14,398 14,398 190 Unused capital losses — 4 — — 4 0 Unutilised R&D t c — — — 99 99 1 Total 311 32,174 31,163 34,549 98,197 1,294 |
Consolidated statement of pro_2
Consolidated statement of profit or loss (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Consolidated Statements of Profit or Loss | The consolidated statements of profit or loss disclosing expenses by nature is presented below: CONSOLIDATED STATEMENTS OF PROFIT OR LOSS For the year ended March 31, Notes 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Revenue 6 835,446 868,630 1,311,917 17,292 Other operating income** 9,863 13,094 17,981 237 Investment and other income 7 25,714 32,177 19,947 263 Total Income 871,023 913,901 1,349,845 17,792 (Decrease)/increase in inventories of finished goods and work-in-progress (13,690 ) (7,662 ) 20,340 268 Raw materials and other consumables used* (549,936 ) (524,019 ) (801,046 ) (10,559 ) Employee costs (26,920 ) (28,632 ) (28,119 ) (371 ) Other costs*** (46,185 ) (50,941 ) (76,161 ) (1,004 ) Depreciation and amortisation (100,490 ) (81,178 ) (91,148 ) (1,201 ) Impairment reversal/(charge) (148,022 ) — 62,745 827 Exploration Cost written off — — (26,181 ) (345 ) Asset under construction written off — (2,440 ) (701 ) (9 ) Finance and other costs 8 (54,557 ) (52,955 ) (49,427 ) (651 ) (Loss)/profit before tax (68,777 ) 166,074 360,147 4,747 Income tax credit/(expense) 9 26,677 (19,084 ) (103,068 ) (1,359 ) (Loss)/profit for the year (42,100 ) 146,990 257,079 3,388 * includes power and fuel charges, repairs, royalty, cess, mining and other operating expenses. ** includes export incentive and duty drawback amounting to ₹ ₹ ₹ the s , *** includes rent amounting to ₹ ₹ ₹ |
Exchange gain_ (loss) recogni_2
Exchange gain/ (loss) recognised in the consolidated statements of profit or loss: (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of exchange gain losses in consolidated statements of profit or loss | For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Cost of sales (4,268 ) (1,937 ) 799 11 Administration cost (Forex on MAT credit entitlements) (1,136 ) 166 (339 ) (4 ) Investment and other income/(loss) 2,489 531 (1,013 ) (13 ) Finance and other costs (4,789 ) 180 (1,455 ) (19 ) Total (7,704 ) (1,060 ) (2,008 ) (25 ) |
Earnings_(Loss) per share ("E_2
Earnings/(Loss) per share ("EPS") (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Profit or loss [abstract] | |
Computation of Weighted Average Number of Shares | The following reflects the income and share data used in the basic and diluted earnings/(loss) per share computations: Computation of weighted average number of shares For the year ended March 31, 2020 2021 2022 Weighted average number of ordinary shares for basic earnings per share* 3,702,554,614 3,704,196,924 3,706,455,160 Effect of dilution: Potential ordinary shares relating to share option awards 21,220,860 # 23,348,057 25,693,575 Adjusted weighted average number of ordinary shares for diluted earnings per share 3,702,554,614 # 3,727,544,981 3,732,148,735 |
Computation of Basic and Diluted Earnings per Share | Computation of basic and diluted earnings per share Basic earnings/(loss) per share: For the year ended March 31, 2020 2021 2022 2022 ( ₹ in million ( ₹ in million ( ₹ in million (US dollars in million except EPS data) (Loss)/Profit for the year attributable to equity holders of the parent (61,248 ) 112,883 207,953 2,740 Weighted average number of ordinary shares for basic earnings per share* 3,702,554,614 3,704,196,924 3,706,455,160 3,706,455,160 (Loss)/Earnings per share(INR / USD) (16.54 ) 30.47 56.11 0.74 Diluted earnings/(loss) per share: For the year ended March 31, 2020 2021 2022 2022 ( ₹ in million ( ₹ in million ( ₹ in million (US dollars in million except EPS data) (Loss)/Profit for the year attributable to equity holders of the parent (61,248 ) 112,883 207,953 2,740 Adjusted weighted average number of ordinary shares for diluted earnings per share* 3,702,554,614 # 3,727,544,981 3,732,148,735 3,732,148,735 (Loss)/Earnings per share # (16.54 ) 30.28 55.72 0.73 * After excluding the impact of treasury shares # Potential dilutive shares have been considered as anti dilutive for year ended March 31, 2020. |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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Summary of distributions made and proposed to equity shareholders | Distributions made and proposed For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Amounts recognised as distributions to equity share holders: Equity dividend on ordinary shares: Interim dividend for the year: (March 31, 2020: ₹ ₹ ₹ ₹ ₹ a,b,c 14,441 35,187 166,814 2,199 Total 14,441 35,187 166,814 2,199 a) Three interim dividends of ₹ ₹ ₹ b) An interim dividend of ₹ /- per share was c) An interim dividend of ₹ /- per share ₹ /- |
Property, plant and equipment_2
Property, plant and equipment and Exploration and evaluation assets (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Disclosure of Property Plant and Equipment | Mining Land and Plant and Oil and gas Others ROU (A) Assets under Total Exploration Total Total ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in ₹ in US dollars Gross Block As at April 1, 2020 233,353 139,044 864,247 1,449,286 15,733 14,150 133,011 2,848,824 136,066 2,984,890 Additions 13,011 1,601 15,121 8,813 1,318 1,082 17,248 58,194 7,003 65,197 Transfers/ Reclassification* 4,569 (1,485 ) 27,130 (81 ) (137 ) 2,529 (32,634 ) (109 ) 81 (28 ) Disposals/ Adjustments (47 ) (327 ) (5,438 ) (69 ) (391 ) (25 ) (2,919 ) (9,216 ) — (9,216 ) Acquisition through business combination (Refer Note 4(a)) 2,202 1,321 — — — — 20 3,543 — 3,543 Exploration cost s — — — — — — — — (70 ) (70 ) Foreign exchange 7,316 1,151 6,932 (29,417 ) 341 (160 ) 722 (13,115 ) (2,611 ) (15,726 ) As at March 31, 2021 260,404 141,305 907,992 1,428,532 16,864 17,576 115,448 2,888,121 140,469 3,028,590 39,918 Additions 11,765 2,046 12,754 8,373 1,263 1,155 73,309 110,665 9,641 120,306 1,586 Transfers/ Reclassification* 20,574 876 29,524 6,915 116 (6,963 ) (49,596 ) 1,446 (1,559 ) (113 ) (1 ) Disposals/ Adjustments (330 ) (933 ) (12,191 ) (116 ) (210 ) (433 ) (2,906 ) (17,119 ) — (17,119 ) (227 ) Exploration costs written off B — — — — — — — — (26,181 ) (26,181 ) (345 ) Foreign exchange 2,663 80 1,862 44,863 76 63 195 49,802 3,807 53,609 707 As at March 31, 2022 295,076 143,374 939,941 1,488,567 18,109 11,398 136,450 3,032,915 126,177 3,159,092 41,638 Accumulated depreciation, depletion, amortisation and impairment As at April 1, 2020 166,478 34,869 291,880 1,356,795 8,949 1,056 21,926 1,881,953 118,144 2,000,097 Charge for the year 16,745 5,197 35,627 20,516 1,734 1,413 — 81,232 — 81,232 Disposals/Adjustments — (236 ) (4,144 ) (69 ) (305 ) — — (4,754 ) — (4,754 ) Transfers/Reclassification* 3 — 352 — (71 ) (2 ) (285 ) (3 ) — (3 ) Asset under construction written off c — — — — — — 2,440 2,440 — 2,440 Foreign exchange 3,376 755 4,377 (27,675 ) 254 (15 ) — (18,928 ) (2,217 ) (21,145 ) As at March 31, 2021 186,602 40,585 328,092 1,349,567 10,561 2,452 24,081 1,941,940 115,927 2,057,867 27,124 Charge for the year 21,104 4,529 39,942 22,887 1,650 612 — 90,724 — 90,724 1,195 Disposals/Adjustments — (294 ) (8,610 ) (116 ) (149 ) (430 ) — (9,599 ) — (9,599 ) (127 ) Transfers/Reclassification* (2 ) 4 559 892 (2 ) (892 ) (570 ) (11 ) — (11 ) (0 ) Impairment Charge/ (reversal) B — — — (53,143 ) — — — (53,143 ) (9,602 ) (62,745 ) (827 ) Assets under construction/capital advances written off B — — — — — — 1,951 1,951 — 1,951 26 Foreign exchange 1,195 54 1,434 41,720 101 (2 ) — 44,502 3,210 47,712 629 As at March 31, 2022 208,899 44,878 361,417 1,361,807 12,161 1,740 25,462 2,016,364 109,535 2,125,899 28,020 Net book value / Carrying amount As at April 1, 2020 66,875 104,175 572,367 92,491 6,784 13,094 111,085 966,871 17,922 984,793 As at March 31, 2021 73,802 100,720 579,900 78,965 6,303 15,124 91,367 946,181 24,542 970,723 As at March 31, 2022 86,177 98,496 578,524 126,760 5,948 9,658 110,988 1,016,551 16,642 1,033,193 13,618 * Transfers/reclassification majorly includes capitalisation of CWIP to respective class of assets. A) Disclosure of Right of Use (ROU) Assets as per IFRS 16 “Leases” Land & Building Plant and Total Total ₹ in million ₹ in million ₹ in million US dollars in million Gross Block As at April 1, 2020 6,811 7,339 14,150 Additions 922 160 1,082 Transfers/Reclassification 2,533 (4 ) 2,529 Deductions (16 ) (9 ) (25 ) Foreign exchange (47 ) (113 ) (160 ) As at March 31, 2021 10,203 7,373 17,576 232 Additions 968 187 1,155 15 Transfers/Reclassification ** (48 ) (6,915 ) (6,963 ) (92 ) Deductions (432 ) (1 ) (433 ) (6 ) Foreign exchange (56 ) 119 63 1 As at March 31, 2022 10,635 763 11,398 150 Accumulated depreciation and impairment As at April 1, 2020 833 223 1,056 Charge for the year 622 791 1,413 Transfers/Reclassification — (2 ) (2 ) Disposals/Adjustments — — — Foreign exchange (12 ) (3 ) (15 ) As at March 31, 2021 1,443 1,009 2,452 32 Charge for the year 523 89 612 8 Transfers/Reclassification ** — (892 ) (892 ) (12 ) Disposals/Adjustments (430 ) — (430 ) (6 ) Foreign exchange (21 ) 19 (2 ) 0 As at March 31, 2022 1,515 225 1,740 22 Net book value / Carrying amount As at April 1, 2020 5,978 7,116 13,094 As at March 31, 2021 8,760 6,364 15,124 As at March 31, 2022 9,120 538 9,658 128 ** During the current year, Company has bought back its ROU RDG Gas Bridge assets in Oil & Gas business which are consequently reclassified to Oil & Gas properties as per the contractual terms. |
Schedule of reconciliation of depreciation, depletion and amortization expense | 12. Reconciliation of depreciation, depletion and amorti s Year ended March 31, 2020 2021 2022 2022 ₹ in ₹ in ₹ in US dollars Depreciation, depletion and amorti s Property, plant and equipment 100,255 81,232 90,724 1,196 Intangible assets 821 682 703 9 As per property, plant and equipment and intangibles schedule 101,076 81,914 91,427 1,205 Less: Depreciation capitalized — (498 ) (39 ) (1 ) Less: Cost allocated to joint ventures (586 ) (238 ) (240 ) (3 ) Charged to consolidated statement of profit or loss 100,490 81,178 91,148 1,201 |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Disclosure of Intangible Assets | Port 1 Software Others Total Total ₹ in million ₹ in million ₹ in million ₹ in million US dollars Gross Block As at April 1, 2020 6,013 3,579 3,617 13,209 Additions 15 78 322 415 Transfers from Property, Plant and Equipment — 28 — 28 Disposals/Adjustments — (64 ) — (64 ) Foreign exchange difference — (28 ) (107 ) (135 ) As at March 31, 2021 6,028 3,593 3,832 13,453 178 Additions 6 157 — 163 2 Transfers from Property, Plant and Equipment 1 112 — 113 1 Disposals/Adjustments — (2 ) — (2 ) 0 Foreign exchange difference — 70 (149 ) (79 ) (1 ) As at March 31, 2022 6,035 3,930 3,683 13,648 180 Accumulated depreciation, depletion, amortization and impairment As at April 1, 2020 1,578 3,096 745 5,419 Charge for the year 230 147 305 682 Transfers from Property, Plant and Equipment — 3 — 3 Disposals/Adjustments — (64 ) — (64 ) Foreign exchange difference — (31 ) (37 ) (68 ) As at March 31, 2021 1,808 3,151 1,013 5,972 79 Charge for the year 230 175 298 703 9 Transfers from Property, Plant and Equipment — 11 — 11 0 Disposals/Adjustments — (2 ) — (2 ) 0 Foreign exchange difference — 62 (64 ) (2 ) 0 As at March 31, 2022 2,038 3,397 1,247 6,682 88 Net book value / Carrying amount As at April 1, 2020 4,435 483 2,872 7,790 As at March 31, 2021 4,220 442 2,819 7,481 As at March 31, 2022 3,997 533 2,436 6,966 92 (1) Vizag General Cargo Berth Private Limited (VGCB), a special The project was to be carried out on a design, build, finance, operate, transfer basis and the concession agreement between Visakhapatnam Port Trust (‘VPT’) and VGCB was signed in June 2010. In October 2010, VGCB was awarded with the concession after fulfilling conditions stipulated as a precedent to the concession agreement. VPT has provided, in lieu of license fee, an exclusive license to VGCB for designing, engineering, financing, constructing, equipping, operating, maintaining, and replacing the project/project facilities and services. The concession period for years from the date of the award. The upgraded capacity is mmtpa and the VPT would be entitled to receive share of the gross revenue as royalty. VGCB is entitled to recover a tariff from the user(s) of the project facilities and services as per its Tariff Authority for Major Ports (TAMP) notification. The tariff rates are linked to the Wholesale Price Index (WPI) and would accordingly be adjusted as specified in the concession agreement every year. The ownership of all infrastructure assets, buildings, structures, berths, wharfs, equipment and other immovable and movable assets constructed, installed, located, created or provided by VGCB at the project site and/or in the port’s assets pursuant to concession agreement would be with VGCB until expiry of this concession agreement. The cost of any repair, replacement or restoration of the project facilities and services shall be borne by VGCB during the concession period. VGCB has to transfer all its rights, titles and interest in the project facilities and services free of cost to VPT at the end of the concession period. Intangible asset of port concession rights represents consideration for construction services. No revenue from construction contract of service concession arrangements on exchanging construction services for the port concession rights was recognized for the year s |
Financial asset investments (Ta
Financial asset investments (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Financial Asset Investments | Financial asset investments represent investments classified and accounted for at fair value through profit or loss or through other comprehensive income (Refer Note 25) Movements for the year ended March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars As at April 1, 911 1,532 20 Changes in fair value 621 (47 ) (1 ) Exchange difference — (13 ) (0 ) As at March 31, 1,532 1,472 19 |
Trade and other receivables a_2
Trade and other receivables and Other non-current assets (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Trade and Other Receivables and Other Noncurrent Assets | As at March 31, 2021 2021 2021 2022 2022 2022 2022 2022 2022 ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars (US dollars (US dollars Financial Bank Deposits 1 1,153 — 1,153 2,066 — 2,066 27 — 27 Site restoration assets 2 8,220 — 8,220 10,232 — 10,232 135 — 135 Trade receivables 3,7 31,582 34,459 66,041 32,187 49,375 81,562 424 651 1,075 Others 5 15,998 2,395 18,393 16,291 4,152 20,443 215 54 269 Loans to related parties (Refer Note 35) 50,562 20,150 70,712 31,644 22,980 54,624 417 303 720 Receivables from related parties — 1,476 1,476 — 1,510 1,510 — 20 20 Advance recoverable — 39,083 39,083 — 81,754 81,754 — 1,078 1,078 Total—Financial (A) 107,515 97,563 205,078 92,420 159,771 252,191 1,218 2,106 3,324 Non Financial Balance with Government Authorities 6,098 7,294 13,392 7,607 10,841 18,448 100 143 243 Advance for supplies — 12,345 12,345 — 27,062 27,062 — 357 357 Advance to related party 944 2,271 3,215 610 840 1,450 — 19 19 Others 4,6 13,170 11,256 24,426 9,173 13,990 23,163 129 176 305 Total—Non Financial (B) 20,212 33,166 53,378 17,390 52,733 70,123 229 695 924 Total (A+B)* 127,727 130,729 258,456 109,810 212,504 322,314 1,447 2,801 4,248 * Net of allowances of ₹ ₹ 1. Includes ₹ ₹ ₹ ₹ ₹ ₹ ₹ million a ₹ ₹ ₹ mi llion held as margin money against bank guarantee as at March 31, 2021 and March 31, 2022 , . 2. Includes deposit in Site Restoration Fund of ₹ ₹ , 3. In a matter between TSPL and Punjab State Power Corporation Limited (PSPCL) relating to assessment of whether there has been a change in law following the execution of the Power Purchase Agreement, the Appellate Tribunal (APTEL) for Electricity has dismissed the appeal in July 2017 filed by TSPL. TSPL later filed an appeal before the Honorable Supreme Court to seek relief, which is yet to be listed. The outstanding trade receivables in relation to this dispute and other matters is ₹ ₹ , Additionally, trade receivables include ₹ ₹ March 31, 2021 and March 31, 2022, respectively, withheld by GRIDCO (‘GRIDCO’ or ‘the customer’) on account of certain disputes relating to computation of power tariffs pending adjudication by APTEL. Additionally, GRIDCO had raised ₹ on the Company in respect of short supply of power, against which a provision of ₹ million) had been made in previous years. Various minutes of meetings were signed with the customer for computing the short supply claims, which were subject to approval of Odisha State Electricity Regulatory Commission (OERC). Hearing on the subject matter (PPA Amendment Case) was completed in October 2019 and OERC had pronounced the order on June 22, 2020. Further, in August 2020, the Company filed an appeal before APTEL against the said OERC order which was finally admitted on March 22, 2022 for hearing to be scheduled in the future. GRIDCO has also sought review of the said OERC order. The matter has been posted for order by OERC in due course. In the meanwhile, power supply to GRIDCO has resumed and GRIDCO has been making regular payments against monthly energy invoices. 4. Includes claim receivables, advance recoverable (oil and gas business), prepaid expenses, export incentive receivables and receivables from KCM. 5. Includes claims receivables, advance recoverable (oil and gas business) and others. It also includes advance profit petroleum of ₹ ₹ , 6. Includes receivable from KCM (net of provision) ₹ ₹ A provisional liquidator (‘PL’) was appointed to manage the affairs of Konkola Copper Mines plc (KCM) on May 21, 2019, after ZCCM Investments Holdings Plc (ZCCM-IH), an entity majority owned by the Government of Zambia and a 20.6% shareholder in KCM, filed a winding up petition against KCM. KCM’s majority shareholder, Vedanta Resources Holdings Limited (VRHL), and its parent company, VRL, are contesting the winding up petition in the Zambian courts and have also commenced arbitration against ZCCM-IH, consistent with their position that arbitration is the agreed dispute resolution process, together with an application to the South African courts to stay the winding up proceedings consistent with the agreement to arbitrate. Meanwhile , KCM has not been supplying goods to the Company and/ or its subsidiaries, which it was supposed to as per the terms of the advance. The Group has recognised provision for expected credit loss ₹ million and ₹ million ($ million) during the years ended March 31, 2021 and March 31, 2022, respectively. The Group carries provision ₹ million and ₹ million ($ million) as at March 31, 2021 and March 31, 2022, respectively. 7. The total trade receivables as at April 1, 2020 were ₹ |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of inventories | Inventories consist of the following: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Raw materials and consumables 60,555 84,449 1,113 Work-in-progress 30,202 50,469 665 Finished goods 8,752 8,335 110 99,509 143,253 1,888 |
Short-term investments (Tables)
Short-term investments (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Short-term Investments | Short-term investments consist of the following: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Bank deposits 1 116,730 64,534 851 Other investments 165,045 171,398 2,259 281,775 235,932 3,110 Bank deposits are made for periods of between three months and one year depending on the cash requirements of the companies within the Group and earn interest at the respective fixed deposit rates. Other investments include mutual fund investments and investments in bonds which are recorded at fair value with changes in fair value reported through the consolidated statements of profit or loss. These investments do not qualify for recognition as cash and cash equivalents due to their maturity period and risk of change in value of the investments. Refer Note 25 for further details. 1. Includes ₹ ₹ ₹ ₹ ₹ ₹ ₹ ₹ margin money, ₹ Nil and ₹ 807 million ($ 11 million) held as reserve created against principal portion on loan from banks, ₹ 4,603 million and ₹ ₹ ₹ million) held as margin money against bank guarantee as at March 31, 2021 and March 31, 2022, respectively. |
Restricted cash and cash equi_2
Restricted cash and cash equivalents (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Restricted Cash and Cash Equivalents | Restricted cash and cash equivalents consist of the following: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Cash at banks 1 1,025 4,674 62 1,025 4,674 6 2 1. Cash at banks is restricted in use as it relates to unclaimed dividends of ₹ ₹ , ₹ ₹ , |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents | Cash and cash equivalents consist of the following: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Cash at banks and in hand 26,604 54,084 713 Short-term deposits* 21,933 32,625 430 48,537 86,709 1,143 * Short-term deposits are made for periods of between one day and three months, depending on the immediate cash requirements of the respective companies, and earn interest at the respective short-term deposit rates. |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Statement [LineItems] | |
Summary of Borrowings | Current borrowings consist of: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Banks and financial institutions 36,086 74,215 978 Current maturities of long-term borrowings 153,514 94,729 1,249 Current borrowings (A) 189,600 168,944 2,227 Non-current As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Banks and financial institutions 359,164 371,525 4,897 Non-convertible 165,923 79,368 1,046 Redeemable preference shares 19 19 0 Non-convertible 1,565 314 4 Others 6,465 5,526 74 Non-current 533,136 456,752 6,021 Less: Current maturities of long-term borrowings (153,514 ) (94,729 ) (1,249 ) Non-current 379,622 362,023 4,772 |
Summary of Non-convertible Debentures Issued by the Group | Details of Non-convertible As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars 9.20% due February-2030 20,000 20,000 264 7.68% due December-2024 — 9,972 131 9.20% due December-2022 7,487 7,494 99 5.35% due September 2022 - ₹ ₹ 35,163 28,140 371 0.00% due September 2022 - ₹ ₹ 1,666 1,064 14 8.75% due June-2022 12,690 12,698 167 7.50% due March-2022 4,927 — — 8.90% due December-2021 8,991 — — 8.75% due September-2021 2,500 — — 8.50% due April-2021 23,500 — — 9.18% due July-2021 10,000 — — 9.27% due July-2021 9,999 — — 8.50% due June-2021 16,500 — — 8.75% due April-2021 2,500 — — 8.55% due April-2021 10,000 — — Total 165,923 79,368 1,046 |
Summary of Borrowings from Funding Arrangements | The Group has taken borrowings in various countries towards funding of its acquisitions, capital expenditure and working capital requirements. The borrowings comprise funding arrangements from various banks and financial institutions taken by the parent and its As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Secured borrowings 487,027 427,902 5,640 Unsecured borrowings 82,195 103,065 1,359 Total borrowings 569,222 530,967 6,999 |
Summary of Security Details | The details of security provided by the Group in various countries, to various banks on the assets of the parent and its subsidiaries are as follows: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Working capital loans (grouped under banks and financial institutions) Secured by first pari passu charge on current assets of Vedanta Limited 6,500 — — Secured by second pari passu charge on fixed assets of TSPL and first pari passu charge on current assets of, both present and future 490 5,150 68 Secured by hypothecation of stock of raw materials, work-in-progress, — 500 7 External commercial borrowings (grouped under banks and financial institutions) The facility is secured by first pari passu charge on all movable property, plant and equipments related to power plants and aluminium smelters of BALCO located at Korba both present and future along with secured lenders 2,188 756 10 First Pari-passu charge by way of hypothecation on the specified movable fixed assets of the Company pertaining to its manufacturing facilities comprising (i) Alumina Refinery having output of 6 MTPA along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Odisha; (ii) Aluminium Smelter having output of 1.6 MTPA along with a 1215 (9*135) MW CPP at Jharsuguda, Odisha. — 11,195 148 The facility is secured by first pari passu charge on all movable property, plant and equipments related to power plant and aluminium smelter located at Korba both present and future along with secured lenders at BALCO 1,686 377 5 As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Non-convertible Secured by the whole of the movable fixed assets of (i) Alumina Refinery having output of 1 MTPA along with co-generation 54,095 20,000 264 Secured by way of charge against all existing assets of FACOR 1,670 1,063 14 Secured by way of first pari passu charge on whole of the movable fixed assets of (i) Alumina Refinery having output of 1 MTPA along with co-generation — 20,192 266 Secured by way of first pari-passu charge on the specific movable fixed assets. The whole of the movable fixed assets both present and future, of the Borrower in relation to the Aluminium division, comprising the following facilities: (i) 1 MTPA alumina refinery alongwith 90 MW co-generation (ii) 1.6 MTPA aluminium smelter plant along with 1215 MW (9*135 MW) power plant in Jharsuguda, Odisha. including its movable plant and machinery, capital work in progress, machinery spares, tools and accessories, and other movable fixed assets — 9,972 131 Other secured non-convertible 75,000 — — Term Loans (grouped under banks and financial institutions) Secured by first pari passu charge on fixed assets of TSPL and second pari passu charge on current assets of TSPL, both present and future 51,400 64,981 856 First pari passu charge by way of hypothecation/ equitable mortgage on the movable/ immovable assets of the Aluminium Division of Vedanta Limited comprising alumina refinery having output of 1 MTPA along with co-generation 18,834 6,248 82 Secured by a pari passu charge by way of hypothecation of all the movable fixed assets of Vedanta Limited pertaining to its Aluminium Division project consisting of (i) Alumina Refinery having output of 1 MTPA (Refinery) along with co-generation 21,935 17,764 234 As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Secured by a pari passu charge by way of hypothecation on the movable fixed assets of the Lanjigarh Refinery Expansion Project including 210 MW Power Project. Lanjigarh Refinery Expansion Project shall specifically exclude the 1 MTPA Alumina Refinery of Vedanta Limited along with 90 MW power plant in Lanjigarh and all its related expansions 4,357 4,018 52 Secured by a pari passu charge by way of hypothecation on the movable fixed assets of Vedanta Limited pertaining to its Aluminium division comprising 1 MTPA Alumina Refinery plant with 90 MW captive power plant at Lanjigarh, Odisha and 1.6 MTPA Aluminium Smelter plant with 1215 MW captive power plant at Jharsuguda, Odisha 12,270 40,193 530 First pari passu charge by way of hypothecation/ equitable mortgage on the movable/ immovable assets of the Aluminium division of Vedanta Limited comprising Alumina Refinery having output of 1 MTPA along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Orissa; Aluminium Smelter having output of 1.6 MTPA along with a 1215 (9x135) MW CPP at Jharsuguda, Orissa and additional charge on Lanjigarh Expansion project, both present and future 10,922 9,985 132 Secured by a pari passu charge by way of hypothecation/ equitable mortgage of the movable/ immovable fixed assets of Vedanta Limited pertaining to its Aluminium division comprising 1 MTPA Alumina Refinery plant with 90 MW captive power plant at Lanjigarh, Odisha and 1.6 MTPA Aluminium Smelter plant with 1215 MW captive power plant at Jharsuguda, Odisha 28,015 69,184 912 Secured by (i) floating charge on borrower collection account and associated permitted investments and (ii) corporate guarantee from Cairn Energy Hydrocarbons Ltd (“ CEHL”) and floating charge on collection account and current assets of CEHL 28,100 16,022 211 Pledge of 49% of shares and other securities and rights to any claims held by THL Zinc Limited in and against BMM 2,198 453 6 The facility is secured by first pari passu charge on all movable property, plant and equipments related to power plants and Aluminium Smelters of BALCO located at Korba both present and future along with secured lenders 1,471 756 10 Secured by first pari passu charge on all present and future movable fixed assets including but not limited to plant and machinery, spares, tools and accessories of BALCO (excluding of coal block assets) by way of a deed of hypothecation 24,996 8,898 117 As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars First ranking pari passu charge by way of hypothecation/mortgage on all fixed/ immovable assets of ESL Steel Limited but excluding any current assets or pledge over any shares. 31,341 27,048 357 Secured by first pari passu charge by way of hypothecation of whole of the movable fixed assets of (i) Alumina Refinery having output of 1.7 to 6 MTPA along with co-generation captive power plant with an aggregate capacity of 90MW at Lanjigarh, Odisha and (ii) Aluminium Smelter having output of 1.6 MTPA along with a 1,215 (9*135) MW CPP at Jharsuguda, Odisha 11,478 6,200 82 First pari-passu charge on the movable fixed and current assets (except for the Concession assets) of VGCB at Visakhapatnam, Andhra Pradesh — 3,750 49 Secured by a first pari passu charge on the identified fixed assets of the Vedanta Limited both present and future, pertaining to its Aluminium business (Jharsuguda Plant, Lanjigarh Plant), 2400 MW power plant assets at Jharsuguda, Copper Plant assets at Silvasa, Iron ore business in the states of Karnataka and Goa, dividends receivable from HZL, a subsidiary of the Vedanta Limited, and the debt service reserve account to be opened for the Facility along with the amount lying to the credit thereof # 85,380 78,212 1,031 Other secured term loans 6,860 — — Others Secured by Fixed asset (platinum) of AvanStrate 5,361 4,985 66 Other secured borrowings 480 — — Total 487,027 427,902 5,640 # During the current year, the Company executed ₹ ₹ ₹ ₹ ₹ |
Summary of Movement in Borrowings | Movement in borrowings during the year is provided below: Short term Long term Total Total ( ₹ in ( ₹ in ( ₹ in (US dollars As at April 1, 2020 112,710 466,765 579,475 Cash flow (82,309 ) 71,300 (11,009 ) Other non-cash 5,768 (4,444 ) 1,324 Debt on acquisition through business combination 80 — 80 Foreign currency translation differences (163 ) (485 ) (648 ) As at March 31, 2021 36,086 533,136 569,222 7,503 Cash flow 38,869 (78,421 ) (39,552 ) (521 ) Other non-cash (787 ) 1,373 586 8 Foreign currency translation differences 47 664 711 9 As at March 31, 2022 74,215 456,752 530,967 6,999 * including current maturities of long-term borrowings ** Other non-cash |
Acceptances (Tables)
Acceptances (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Acceptances | Acceptances consist of: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Payable under trade financing arrangements 83,711 110,936 1,462 83,711 110,936 1,462 |
Trade and other payables and _2
Trade and other payables and Other non-current liabilities (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Trade and Other Payables | As at March 31, 2021 Non-Current 2021 2021 2022 Non-current 2022 2022 2022 Non-Current 2022 2022 ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars (US dollars (US dollars Financial Unclaimed/unpaid dividend — 1,014 1,014 — 1,229 1,229 — 16 16 Trade payables — 75,047 75,047 — 104,521 104,521 — 1,378 1,378 Amount due to related party — 4,130 4,130 — 1,655 1,655 — 22 22 Liabilities for capital expenditure 9,365 70,088 79,453 9,621 109,981 119,602 127 1,450 1,577 Profit petroleum payable — 14,677 14,677 — 21,798 21,798 — 287 287 Security deposit and retentions 2 2,223 2,225 2 2,374 2,376 0 31 31 Other liabilities 847 38,808 39,655 1,196 36,103 37,299 16 476 492 Put option liability with non-controlling 1 2,633 — 2,633 2,397 — 2,397 32 — 32 Lease liability 3 1,603 4,808 6,411 1,504 3,236 4,740 20 43 63 Total – Financial 14,450 210,795 225,245 14,720 280,897 295,617 195 3,703 3,898 Non Financial Statutory l — 31,461 31,461 — 31,573 31,573 — 416 416 Amount payable to owned post employment benefit trust — 321 321 — 334 334 — 4 4 Advances from customers 2 — 62,330 62,330 4,026 41,296 45,322 53 544 597 Advance from related party — — — — 20 20 — 0 0 Other payables — 1,840 1,840 — 2,049 2,049 — 28 28 Total – Non Financial — 95,952 95,952 4,026 75,272 79,298 53 992 1,045 14,450 306,747 321,197 18,746 356,169 374,915 248 4,695 4,943 Trade payables are majorly non-interest The fair value of trade and other payables is not materially different from the carrying value presented. 1 The non-controlling sell ₹ 52 ) an 2 Advance from customers are contract liabilities to be settled through delivery of goods. The amount of such balances was ₹ ₹ ₹ , ₹ ₹ ₹ z ₹ ₹ ₹ s , |
Summary of Movement In Lease Liabilities | Movement in lease liabilities is as follows: As at March 31, 2021 2022 2022 ( ₹ in ( ₹ in (US dollars As at April 1 6,599 6,411 84 Additions during the year 3,611 1,155 15 Interest on lease liabilities 278 136 2 Payments made (3,380 ) (2,318 ) (31 ) Disposal/adjustments (697 ) (644 ) (7 ) As at March 31 6,411 4,740 63 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Carrying Value and Fair Value of Each Category of Financial Assets | The following tables present the carrying value and fair value of each category of financial assets and liabilities as at March 31, 2021 and March 31, 2022. As at March 31, 2021: ( ₹ in million) Financial assets Fair value Fair value Derivatives Amortised Total Total fair Financial assets investments —at fair value 500 1,032 — — 1,532 1,532 Other non—current assets — — — 107,515 107,515 112,534 Trade and other receivable 1,633 * — — 95,930 97,563 97,711 Short term investments —Bank deposits — — — 116,730 116,730 116,730 —Other investments 165,044 — — — 165,044 165,044 Financial instruments (derivatives) 129 — 572 — 701 701 Cash and cash equivalents — — — 48,537 48,537 48,537 Restricted cash and cash equivalents — — — 1,025 1,025 1,025 Total 167,306 1,032 572 369,737 538,647 543,814 * Under IFRS 9, provisionally priced receivables are fair valued at each reporting date. As at March 31, 2022: ( ₹ in million) (US dollars in million) Financial assets Fair value Fair value Derivatives Amortised Total Total fair Total Total fair Financial assets investments —at fair value 295 1,177 — — 1,472 1,472 19 19 Other non-current assets — — — 92,420 92,420 94,084 1,218 1,240 Trade and other receivables 5,206 * — — 154,565 159,771 160,771 2,106 2,119 Short term investments —Bank deposits — — — 64,534 64,534 64,534 851 851 —Other investments 171,398 — — — 171,398 171,398 2,259 2,259 Financial instruments (derivatives) 101 — 2,479 — 2,580 2,580 34 34 Cash and cash equivalents — — — 86,709 86,709 86,709 1,143 1,143 Restricted cash and cash equivalents — — — 4,674 4,674 4,674 62 62 Total 177,000 1,177 2,479 402,902 583,558 586,222 7,692 7,727 * Under IFRS 9, provisionally priced receivables are fair valued at each reporting date. |
Summary of Carrying Value and Fair Value of Each Category of Financial Liabilities | As at March 31, 2021: ( ₹ in million) Financial liabilities Fair value Derivatives Amortised Others* Total Total fair Borrowings — — 569,222 — 569,222 565,941 Acceptances — — 83,711 — 83,711 83,711 Trade and other payables*** 7,066 ** — 215,546 2,633 225,245 225,245 Financial instruments (derivatives) 933 2,618 — — 3,551 3,551 Total 7,999 2,618 868,479 2,633 881,729 878,448 * Includes put option liability accounted for at fair value (Refer Note 24) ** Under IFRS 9, provisionally priced payables are fair valued at each reporting date. *** Includes lease liability of ₹ 6,411 million. As at March 31, 2022: ( ₹ in million) (US dollars in million) Financial liabilities Fair value Derivatives Amortised Others* Total Total fair Total Total fair Borrowings — — 530,967 — 530,967 531,898 6,999 7,011 Acceptances — — 110,936 — 110,936 110,936 1,462 1,462 Trade and other payables*** 10,335 ** 282,885 2,397 295,617 295,617 3,897 3,897 Financial instruments (derivatives) 1,354 4,011 — — 5,365 5,365 71 71 Total 11,689 4,011 924,788 2,397 942,885 943,816 12,429 12,441 * Includes put option liability accounted for at fair value (Refer Note 24) ** Under IFRS 9, provisionally priced payables are fair valued at each reporting date. *** Includes lease liability of ₹ 4,740 million ($ 63 million). |
Summary of Categories of Financial Assets and Liabilities Measured at Fair Value | The table below summarizes the categories of financial assets and liabilities as at March 31, 2021 and March 31, 2022 measured at fair value: As at March 31, 2021 (Level 1) (Level 2) (Level 3) ( ₹ in million) Financial assets At fair value through profit or loss — Investments 63,183 101,861 500 — Derivatives financial assets — 129 — — Trade and other receivables — 1,633 — At fair value through other comprehensive income — Financial asset investments held at fair value 925 — 107 Derivatives designated as hedging instruments — Derivatives financial assets — 572 — 64,108 104,195 607 Financial liabilities At fair value through profit or loss —Derivatives financial liabilities — 933 — Trade payable — 7,066 — Derivatives designated as hedging instruments —Derivatives financial liabilities — 2,618 — Trade and other payables- Put option liability with non controlling interest (Refer Note 24) — — 2,633 — 10,617 2,633 As at March 31, 2022 (Level 1) (Level 2) (Level 3) (Level 1) (Level 2) (Level 3) ( ₹ in million) (US dollars in million) Financial assets At fair value through profit or loss — Investments 72,072 99,326 295 950 1,309 4 — Derivatives financial assets — 101 — — 1 — — Trade and other receivables — 5,206 — — 69 — At fair value through other comprehensive income — Financial asset investments held at fair value 1,070 — 107 14 — 1 Derivatives designated as hedging instruments — Derivatives financial assets — 2,479 — — 33 — 73,142 107,112 402 964 1,412 5 Financial liabilities At fair value through profit or loss —Derivatives financial liabilities — 1,354 — — 18 — Trade payable — 10,335 — — 136 — Derivatives designated as hedging instruments —Derivatives financial liabilities — 4,011 — — 53 — Trade and other payables- Put option liability with non controlling interest (Refer Note 24) — — 2,397 — — 32 — 15,700 2,397 — 207 32 |
Summary of Fair Value of Trade Receivables, Other Non-current Assets And Borrowings Which Are Carried At Amortised Cost | The table below summarizes the fair value of trade receivables, other non-current As at March 31, 2021 (Level 2) ( ₹ in million) Financial Assets -Other non-current 112,534 -Trade and other receivables* 97,711 210,245 Financial Liabilities - Borrowings 565,941 565,941 As at March 31, 2022 (Level 2) (Level 2) ( ₹ in million) (US dollars in million) Financial Assets -Other non-current 94,084 1,240 -Trade and other receivables* 160,771 2,119 254,855 3,359 Financial Liabilities -Borrowings 531,898 7,011 531,898 7,011 |
Schedule of impact of 10% increase in LME prices on pre-tax profit/(loss) for the year and pre-tax equity as a result of changes in the value of the Group's commodity financial instruments | Set out below is the impact of 10% increase in LME prices on pre-tax pre-tax For the year ended March 31, 2021 ( ₹ in million) Total Effect on pre-tax profit/(loss) Effect on pre-tax equity of a Copper (10,016 ) (1,002 ) — For the year ended March 31, 2022 ( ₹ in million) Total Effect on pre-tax profit/(loss) Effect on pre-tax Copper (8,304 ) (830 ) — For the year ended March 31, 2022 (US dollars in million) Total Effect on pre-tax profit/(loss) Effect on pre-tax Copper (109 ) (11 ) — |
Schedule of Contractual Undiscounted Cash Obligations | The maturity profile of the Group’s financial liabilities based on the remaining period from the balance sheet date to the contractual maturity date is given in the table below. The figures reflect the contractual undiscounted cash obligation of the Group: As at March 31, 2021 Payment due by year <1 year 1 - 3 years 3 - 5 years >5 years Total ( ₹ in million) Acceptances* 84,201 — — — 84,201 Lease Liability* 4,808 601 220 782 6,411 Trade and other payables** 195,508 11,153 0 — 206,661 Bank and other borrowings*** 234,645 220,879 116,726 155,035 727,285 Derivative financial liabilities 2,786 764 — — 3,550 521,948 233,397 116,946 155,817 1,028,108 * Includes committed interest payments ** Includes both Non-current *** Includes Non-current As at March 31, 2022 Payment due by year <1 year 1 - 3 years 3 - 5 years >5 years Total ( ₹ in million) Acceptances* 111,654 — — — 111,654 Lease Liability* 3,236 1,131 86 287 4,740 Trade and other payables** 275,553 11,511 0 — 287,064 Bank and other borrowings*** 190,479 181,905 131,026 116,541 619,951 Derivative financial liabilities 5,308 57 — — 5,365 586,230 194,604 131,112 116,828 1,028,774 US dollars in million 7,727 2,565 1,728 1,540 13,560 * Includes committed interest payments ** Includes both Non-current *** Includes Non-current |
Summary of Funding Facilities | The Group had access to following funding facilities: As at March 31, 2021 Funding facility Total facility Drawn Un drawn ( ₹ in ( ₹ in ( ₹ in Fund/ Non-fund 727,522 562,322 165,200 As at March 31, 2022 Funding facility Total facility Drawn Un drawn ( ₹ in ( ₹ in ( ₹ in Fund/ Non-fund 811,810 642,266 169,545 As at March 31, 2022 Funding facility Total facility Drawn Un draw (US dollars in million) (US dollars in million) (US dollars in million) Fund/ Non-fund 10,700 8,465 2,235 |
Summary of Carrying Amount of the Group's Financial Assets and Liabilities in Different Currencies | The carrying amount of the Group’s financial assets and liabilities in different currencies are as follows: As at March 31, 2021 As at March 31, 2022 As at March 31, 2022 Financial Financial Financial Financial Financial Financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars (US dollars INR 402,393 636,589 391,701 646,234 5,163 8,518 USD 128,023 219,817 178,857 264,636 2,357 3,488 Others 8,231 25,187 13,000 32,015 172 422 Total 538,647 881,593 583,558 942,885 7,692 12,428 |
Impact of Strengthening of Functional Currency | Set out below is the impact of a 10% strengthening in the functional currencies of the respective entities on pre-tax pre-tax For the year ended March 31, 2021 Effect of 10% on pre-tax profit/(loss) Effect of 10% on equity (pre-tax) ( ₹ in million) ( ₹ in million) USD 11,325 — INR (3,072 ) — For the year ended March 31, 2022 Effect of 10% on pre-tax profit/(loss) Effect of 10% (pre-tax) Effect of 10% on pre-tax profit/(loss) Effect of 10% on equity (pre-tax) ( ₹ in million) ( ₹ in million) (US dollars in million) (US dollars in million) USD 9,116 — 120 — INR (4,522 ) — (60 ) — |
Schedule of Exposure of Financial Assets and Financial Liabilities to Interest Rate Risk | The exposure of the Group’s financial assets as at March 31, 2021 to interest rate risk is as follows: Floating rate Fixed rate Non-interest bearing Total financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in Financial assets 312,971 374,148 208,705 895,824 312,971 374,148 208,705 895,824 The exposure of the Group’s financial liabilities as at March 31, 2021 to interest rate risk is as follows: Floating rate Fixed rate Non-interest bearing Total financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in Financial liabilities 322,843 329,629 229,121 881,593 322,843 329,629 229,121 881,593 The exposure of the Group’s financial assets as at March 31, 2022 to interest rate risk is as follows: Floating rate Fixed rate Non-interest bearing Total financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in Financial assets 91,124 245,756 246,679 583,558 91,124 245,756 246,679 583,558 (US dollars in million) 1,201 3,239 3,252 7,692 The exposure of the Group’s financial liabilities as at March 31, 2022 to interest rate risk is as follows: Floating rate Fixed rate Non-interest bearing Total financial ( ₹ in ( ₹ in ( ₹ in ( ₹ in Financial liabilities 355,778 299,870 287,237 942,885 355,778 299,870 287,237 942,885 (US dollars in million) 4,689 3,952 3,787 12,428 |
Analysis of Movements in Interest Rates | Increase in interest rates Year ended March 31 , 2021 2022 2022 ( ₹ in ( ₹ in (US dollars 0.50% (1,048) (1,323) (17) 1.00% (2,095) (2,647) (35) 2.00% (4,191) (5,293) (70) |
Summary of Year End Trade and Other Receivable | Of the year end trade and other receivables, the following are expected to be realised in the normal course of business and hence not considered impaired: As at March 31 2021 2022 2022 ( ₹ in ( ₹ in (US dollars Neither impaired nor past due 134,386 158,314 2,087 Past due but not impaired Due Less than 1 month 6,116 21,085 278 Due Between 1 - 3 months 2,763 3,694 49 Due Between 3 - 12 months 8,419 3,904 51 Due Greater than 12 months 44,016 52,894 697 195,700 239,891 3,162 |
Summary of Movement in Allowance for Financial Assets Trade and Other Receivable | Movement in allowances for Financial Assets (trade and other receivables and other non-current Movements for the year ended March 31, 2021 2022 2022 ( ₹ in million) ( ₹ in million) (US dollars As at April 1, 13,050 15,333 202 Allowance made during the year 2,969 2101 28 Reversals during the year (592 ) (1 ) (0 ) Exploration cost written off 22 — — Foreign Exchange difference (116 ) 140 2 As at March 31, 15,333 17,573 232 |
Summary of Fair Value of Derivative Positions Recorded Under Derivative Financial Assets and Derivative Financial Liabilities | The fair value of the Group’s derivative positions recorded under derivative financial assets and derivative financial liabilities are as follows: As at March 31, 2021 As at March 31, 2022 Assets Liabilities Assets Liabilities Assets Liabilities ( ₹ in million) (US dollars in million) Current Cash flow hedges* — Commodity contracts 27 550 2,320 2,064 31 27 — Interest rate swap — 50 10 — 0 — Fair value hedges — Commodity contracts 406 91 112 650 1 9 — Forward foreign currency contracts 139 1,163 37 1,240 0 16 Non — qualifying hedges — Commodity contracts 5 22 18 102 1 1 — Forward foreign currency contracts 124 911 83 1,252 1 17 Non Current Cash flow hedge* — Interest rate swap — 51 — — — — Fair value hedges — — Forward foreign currency contracts — 713 — 57 — 1 Total 701 3,551 2,580 5,365 34 71 * Refer consolidated statement s income/(loss) and |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Current and Non Current Provisions | As at March 31, 2021 Non-Current 2021 2021 2022 Non-Current 2022 2022 2022 Non-Current 2022 2022 ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in ( ₹ in (US dollars (US dollars (US dollars Provision for employee benefits 117 1,545 1,662 104 1774 1,878 1 24 25 Provision for restoration, rehabilitation and environmental costs 29,737 275 30,012 32,178 278 32,456 424 4 428 Other provisions — 558 558 — 1,098 1,098 — 14 14 Total 29,854 2,378 32,232 32,282 3,150 35,432 425 42 467 |
Summary of Provisions | Restoration, Others ( ₹ in ( ₹ in As at April 1, 2020 26,760 541 Additions 2,701 17 Utilised (24 ) — Unused amounts reversed (243 ) — Unwinding of discount 721 — Revision in estimates (122 ) — Exchange differences 219 — As at March 31, 2021 30,012 558 Restoration, Others Restoration, Others ( ₹ in ( ₹ in US dollars (US dollars As at April 1, 2021 30,012 558 396 7 Additions 350 540 5 7 Utilised (45 ) — (1 ) — Unwinding of discount 777 — 10 — Revision in estimates 539 — 7 — Exchange differences 823 — 11 — As at March 31, 2022 32,456 1,098 428 14 (a) Restoration, rehabilitation and environmental costs An obligation to incur restoration, rehabilitation and environmental costs arises when environmental disturbance is caused by the development or ongoing production from a producing field. The provisions for restoration, rehabilitation and environmental liabilities represent the management’s best estimate of the costs which will be incurred in the future to meet the Group’s obligations under existing Indian, Australian, Namibian, South African and Irish law and the terms of the Group’s exploration and other licences and contractual arrangements. Within India, the principal restoration and rehabilitation provisions are recorded within Oil and Gas division where a legal obligation exists relating to the oil and gas fields and where costs are expected to be incurred in restoring the site of production facilities at the end of the producing life of an oil field. The Group recognises the full cost of site restoration as a liability when the obligation to rectify environmental damage arises. These amounts are calculated by considering discount rates within the range of 2% to 10% and become payable on closure of mines and are expected to be incurred over a period of one The lower range of discount rate is at Oil and Gas and Zinc international operations in Ireland and higher range is at Zinc International operations in African c (b) Other provisions Other provisions include provision for disputed cases and claims. |
Retirement benefits (Tables)
Retirement benefits (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Statement [LineItems] | |
Schedule of Defined Contribution Plans | The Group contributed a total of ₹ ₹ ₹ , Year ended ₹ Million) Year ended ₹ Million) Year ended ₹ Million) Year ended Employer’s contribution to recognised provident fund and family pension fund 630 978 1,111 15 Employer’s contribution to superannuation 210 208 230 3 Employer’s contribution to National Pension Scheme — 4 45 1 840 1,190 1,386 19 |
Summary of Present Value of Obligation and Fair Value of Plan Assets | Amount recognised in the consolidated statements of financial position consists of: As at ₹ Million) As at ₹ Million) As at ₹ Million) As at in million) Fair value of plan assets 4,418 4,009 4,411 58 Present value of defined benefit obligations (6,310 ) (5,748 ) (6,004 ) (79 ) Net liability arising from defined benefit obligations (1,892 ) (1,739 ) (1,593 ) (21 ) |
Summary of Actuarial Assumptions Used to Determine Present Value of Other Post-employment benefit plan obligation | Principal actuarial assumptions used to determine the present value of the Other post-employment benefit plan obligation are as follows: Year ended Year ended Year ended Discount rate 6.8 % 6.9 % 7.2 % Expected rate of increase in compensation level of covered employees 2% to 15 % 2% to 15 % 2% to 15% Mortality table IALM (2012-14) IALM (2012-14) IALM (2012-14) |
Summary Of Other Post-Employment Benefit Plan Amounts Recognised in Consolidated Statement of Profit or Loss | Amounts recognised in consolidated statements of profit or loss in respect of Other post-employment benefit plan are as follows: Year ended ₹ Million) Year ended ₹ Million) Year ended ₹ Million) Year ended Current service cost 411 395 390 5 Net Interest cost 151 130 124 2 Total charge to consolidated statements of profit or loss 562 525 514 7 |
Summary of Defined Benefit Schemes Amounts Recognised In Statement of Comprehensive Income | Amounts recognised in the consolidated statements of comprehensive income in respect of Other post-employment benefit plan are as follows: Year ended ₹ Million) Year ended ₹ Million) Year ended ₹ Million) Year ended Remeasurements of the net defined benefit obligation Actuarial losses /(gains) arising from changes in financial assumptions 283 11 172 2 Actuarial losses/(gains) arising from experience adjustments 163 (104 ) (47 ) (1 ) Actuarial (gains)/losses arising from changes in demographic (14 ) (2 ) (29 ) (0 ) Actuarial losses on Plan assets (excluding amounts included in net interest cost) 12 58 18 0 Remeasurement of the net defined benefit liability 444 (37 ) 114 1 |
Summary of Movement Of Present Value Other Post-Employment Benefit Plan Obligation | The movement of the present value of Other post-employment benefit plan obligation is as follows: Year ended ₹ in Million) Year ended ₹ in Million) Year ended ₹ in Million) Year ended At April 1 (5,890 ) (6,310 ) (5,748 ) (76 ) Acquired in business combination — (177 ) — — Current service cost (411 ) (395 ) (390 ) (5 ) Benefits paid 875 1,475 623 8 Interest cost of scheme liabilities (452 ) (436 ) (393 ) (5 ) Actuarial (losses)/gains arising from change in assumptions (432 ) 95 (96 ) (1 ) At March 31, (6,310 ) (5,748 ) (6,004 ) (79 ) |
Summary of Movement in Fair Value of Other Post-Employment Benefit Plan Assets | The movement in the fair value of Other post-employment benefit plan assets is as follows: Year ended ₹ in Million) Year ended ₹ in Million) Year ended ₹ in Million) Year ended At April 1 3,868 4,418 4,009 53 Acquired in business combination — 160 — — Contributions received 859 184 693 9 Benefits paid (598 ) (1,001 ) (542 ) (7 ) Remeasurement loss arising from return on plan assets (12 ) (58 ) (18 ) (0 ) Interest income 301 306 269 3 At March 31, 4,418 4,009 4,411 58 |
Summary of Sensitivity Analysis for Significant Actuarial Assumptions | Below is the sensitivity analysis determined for significant actuarial assumptions for the determination of defined benefit obligations and based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period while holding all other assumptions constant. Increase / (Decrease) in Increase / (Decrease) in Year ended ₹ in million) Year ended ₹ in million) Year ended Discount rate Increase by 0.50% (213 ) (229 ) (3 ) Decrease by 0.50% 231 248 3 Expected rate of increase in compensation level of covered employees Increase by 0.50% 208 217 3 Decrease by 0.50% (199 ) (209 ) (3 ) |
BALCO, HZL, SRL and SMCL Provident Trust Fund [Member] | |
Statement [LineItems] | |
Summary of Present Value of Obligation and Fair Value of Plan Assets | As at ₹ Million) As at ₹ Million) As at ₹ Million) As at Fair value of plan assets of trusts 23,437 24,213 25,317 334 Present value of defined benefit obligations (22,990 ) (23,751 ) (25,102 ) (331 ) Net liability arising from defined benefit obligation Nil Nil Nil Nil |
Summary of Asset Allocation of Plan Assets | Percentage allocation of Plan assets of the trust As at As at As at Assets by category Government Securities 61.68 63.19 58.62 Debentures/Bonds 36.67 34.36 35.54 Equity 1.65 1.63 4.64 Money Market Instruments — 0.82 1.20 |
Employee costs (Tables)
Employee costs (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Employee Cost | For the year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Salaries and wages 30,217 31,260 30,632 404 Contributions to provident and other funds 1,735 2,077 2,259 30 Share based payments 727 597 785 10 JV Employee cost allocation (5,759 ) (5,302 ) (5,557 ) (73 ) 26,920 28,632 28,119 371 |
Share-Based Compensation Plans
Share-Based Compensation Plans (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Statement [LineItems] | |
Schedule of Activity in Employee Stock Option Plan | The details of share options for the year ended March 31, 2021 is presented below: Financial Year of Grant Exercise Period Options Options Options Options Options Options 2016-17 December 15, 2019-June 14, 2020 1,068,516 — 8,648 1,059,868 — — 2017-18 September 1, 2020-February 28, 2021 7,027,925 — 5,514,169 1,136,816 376,940 376,940 2017-18 October 16, 2020-April 15, 2021 11,126 — 11,126 — — — 2018-19 November 1, 2020-April 30, 2021 11,420,046 — 1,507,806 — 9,912,240 — 2018-19 Cash settled 1,069,156 — 340,300 — 728,856 — 2019-20 November 29, 2022-May 28, 2023 15,881,330 — 2,309,052 — 13,572,278 — 2019-20 Cash settled 1,896,700 — 1,019,249 877,451 — 2020-21 November 06, 2023-May 5, 2024 — 12,711,112 — — 12,711,112 — 2020-21 Cash settled — 1,020,889 — — 1,020,889 — 38,374,799 13,732,001 10,710,350 2,196,684 39,199,766 376,940 The details of share options for the year ended March 31, 2022 is presented below: Financial Grant Exercise Period Options Options Options Options Options Options 2017-18 September 1, 2020-February 28, 2021 376,940 — 23,457 353,483 — — 2018-19 November 1, 2021-April 30, 2022 9,912,240 — 6,906,444 2,682,781 323,015 323,015 2018-19 Cash settled 728,856 — 489,731 239,125 — — 2019-20 November 29, 2022-May 28, 2023 13,572,278 — 2,090,560 — 11,481,718 — 2019-20 Cash settled 877,451 — 197,050 — 680,401 — 2020-21 November 6, 2023-May 5, 2024 12,711,112 — 1,903,591 — 10,807,521 — 2020-21 Cash settled 1,020,889 — 295,966 — 724,923 — 2021-22 November 1, 2024 - April 30, 2025 — 12,083,636 779,037 — 11,304,599 — 2021-22 Cash settled — 864,537 22,770 — 841,767 — 39,199,766 12,948,173 12,708,606 3,275,389 36,163,944 323,015 |
Schedule of Exercise Price Range for Employee Stock Option Plans | Scheme Range of ₹ Weighted Weighted ₹ The details of exercise price for stock options outstanding as at March 31, 2021 are: CIESOP Plan 286.85-287.75 0.80 287.30 The details of exercise price for stock options outstanding as at March 31, 2022 are: CIESOP Plan 286.85 0.31 286.85 |
Vedanta Limited Employee Stock Option Scheme 2016 [member] | |
Statement [LineItems] | |
Summary of Assumptions Used in Calculations of Charge in Respect of Employee Stock Option Awards Granted | Particulars Year ended March 31, 2021 Year ended March 31, 2022 ESOS 2020 ESOS 2021 Number of o 1,020,889 (cash settled)/ 864,537 (cash settled)/ 12,083,636 (equity settled) Exercise p ₹ ₹ Share p ₹ ₹ Contractual l 2 years and 7 months 3 years Expected volatility 49.28% 49.67% Expected option life 2 years and 7 months 3 years Expected dividends 6.80% 6.80% Risk free interest rate 4.84% 5.02% Expected annual forfeitures 10%p.a. 10%p.a. Fair value per option granted ( n ₹ ₹ |
CIESOP [member] | |
Statement [LineItems] | |
Summary of Assumptions Used in Calculations of Charge in Respect of Employee Stock Option Awards Granted | Details of employees stock option plans is presented below CIESOP Plan Year ended March 31, 2021 Year ended March 31, 2022 Number of Weighted ₹ Number of Weighted ₹ Outstanding at the beginning of the year 5,341,740 288.2 3,315,174 287.30 Granted during the year Nil NA Nil NA Expired during the year (1,082,229) 291.3 Nil NA Exercised during the year Nil NA (483,085) 286.85 Forfeited / cancelled during the year (944,337) 288.0 (1,794,448) 287.70 Outstanding at the end of the year 3,315,174 287.3 1,037,641 286.85 Exercisable at the end of the year 3,315,174 287.3 1,037,641 286.85 |
Shareholders' equity (Tables)
Shareholders' equity (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Schedule of Classes of Share Capital | As at As at ₹ Million) As at As at ₹ Million) As at Authorised Share Capital: Opening and closing balance (equity shares of ₹ 44,020 44,020 44,020 44,020 580 Authorised preference share capital: Opening and closing balance (preference shares of ₹ 3,010 30,100 3,010 30,100 397 Issued, subscribed and paid up Equity shares of ₹ a,b,c,d 3,718 3,718 3,718 3,718 49 a) The Company has one class of equity shares having a par value of ₹ b) This includes 160,903,244 equity shares in the form of 40,225,811 American Depository Shares (ADS) as at March 31, 2021. The American Depository Shares (ADS) of the Company have been delisted from NYSE effective close of trading on NYSE on November 8, 2021. Refer Group overview section for detailed note. c) Includes 308,232 equity shares as at March 31, 2021 and 305,832 equity shares as at March 31, 2022 kept in abeyance. These shares are not part of listed equity capital and pending allotment as they are sub-judice. d) Includes 12,193,159 equity shares as at March 31, 2021 and 8,693,406 equity shares as at March 31, 2022 held by Vedanta Limited ESOS Trust. |
Non-controlling Interests ('N_2
Non-controlling Interests ('NCI') (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summarized Financial Information of Subsidiaries of the Group that have Material Non-controlling Interests | The table below shows summarized financial information of subsidiaries of the Group that have material non-controlling As at March 31, 2021 ( ₹ in million) HZL BALCO Others Total Current assets 245,694 28,748 41,604 316,046 Non-current 203,262 110,396 134,990 448,648 Current liabilities 77,512 53,990 37,575 169,077 Non-current 45,043 28,874 77,778 151,695 Equity attributable to equity holders of the Parent 211,900 28,703 59,236 299,839 Non-controlling 114,501 27,577 7,374 149,452 * ₹ million (loss) attributable to NCI of ASI transferred to put option liability as at March 31, 2021. As at March 31, 2022 ( ₹ in million) HZL BALCO Others Total Current assets 239,851 30,910 40,911 311,672 Non-current 199,444 110,602 151,829 461,875 Current liabilities 59,544 42,091 42,333 143,968 Non-current 34,002 16,728 81,169 131,899 Equity attributable to equity holders of the Parent 224,460 42,173 64,092 330,725 Non-controlling 121,289 40,520 9,547 171,356 * ₹ As at March 31, 2022 (US dollars In Million) HZL BALCO Others Total Current assets 3,161 407 539 4,107 Non-current 2,629 1,458 2,001 6,088 Current liabilities 785 555 558 1,898 Non-current 448 220 1,070 1,738 Equity attributable to equity holders of the Parent 2,958 556 846 4,360 Non-controlling 1,599 534 124 2,257 For the Year Ended March 31, 2020 ( ₹ In Million) HZL BALCO Others Total Revenue 183,321 87,465 65,667 336,453 Expenses (115,651 ) (89,262 ) (74,126 ) (279,039 ) Profit/(Loss) for the year 67,670 (1,797 ) (8,459 ) 57,414 Profit/( L p 43,933 (916 ) (4,751 ) 38,266 Profit/( L non-controlling 23,737 (881 ) (3,708 ) 19,148 Profit/(Loss) for the year 67,670 (1,797 ) (8,459 ) 57,414 Other comprehensive (loss) income p (649 ) 19 (2,102 ) (2,732 ) Other comprehensive (loss) income non-controlling (351 ) 18 (947 ) (1,280 ) Other comprehensive (loss)/income during the year (1,000 ) 37 (3,049 ) (4,012 ) Total comprehensive income/(loss) attributable to the equity holders of the p 43,284 (897 ) (6,853 ) 35,534 Total comprehensive income/(loss) attributable to non-controlling 23,386 (863 ) (4,655 ) 17,868 Total comprehensive income/(loss) during the year 66,670 (1,760 ) (11,508 ) 53,402 Net cash inflow from operating activities 74,282 1,069 7,017 82,368 Net cash outflow from investing activities (36,247 ) (1,904 ) (6,204 ) (44,355 ) Net cash outflow from financing activities (19,276 ) (886 ) (4,186 ) (24,348 ) Net cash inflow/(outflow) 18,759 (1,721 ) (3,373 ) 13,665 For the Year Ended March 31, 2021 ( ₹ In Million) HZL BALCO Others Total Revenue 220,704 96,879 77,202 394,785 Expenses (141,492 ) (86,221 ) (43,423 ) (271,136 ) Profit for the year 79,212 10,658 33,779 123,649 Profit attributable to equity holders of the p 51,424 5,436 32,682 89,542 Profit attributable to non-controlling 27,788 5,222 1,097 34,107 Profit for the year 79,212 10,658 33,779 123,649 Other comprehensive (loss) income p (28 ) (235 ) 2,866 2,603 Other comprehensive (loss) income non-controlling (15 ) (225 ) 1,180 940 Other comprehensive (loss)/income during the year (43 ) (460 ) 4,046 3,543 Total comprehensive income p 51,396 5,201 35,548 92,145 Total comprehensive income non-controlling 27,773 4,997 2,277 35,047 Total comprehensive income during the year 79,169 10,198 37,825 127,192 Dividends paid/payable to non-controlling (56,029 ) — — (56,029 ) Net cash inflow from operating activities 191,094 13,996 12,708 217,798 Net cash outflow from investing activities (111,459 ) (3,083 ) (5,337 ) (119,879 ) Net cash outflow from financing activities (95,286 ) (11,463 ) (6,763 ) (113,512 ) Net cash (outflow)/inflow (15,651 ) (550 ) 608 (15,593 ) For the Year Ended March 31, 2022 ( ₹ In Million) HZL BALCO Others Total Revenue 287,896 136,070 115,584 539,550 Expenses (191,929 ) (109,491 ) (108,056 ) (409,476 ) Profit for the year 95,967 26,579 7,528 130,074 Profit attributable to equity holders of the parent 62,302 13,555 5,091 80,948 Profit non-controlling 33,665 13,024 2,437 49,126 Profit for the year 95,967 26,579 7,528 130,074 Other comprehensive (loss)/income attributable to the equity holders of the parent (366 ) (85 ) 1,373 922 Other comprehensive (loss) income non-controlling (198 ) (81 ) 707 428 Other comprehensive (loss)/income during the year (564 ) (166 ) 2,080 1,350 Total comprehensive income p 61,936 13,470 6,464 81,870 Total comprehensive income non-controlling 33,467 12,943 3,144 49,554 Total comprehensive income during the year 95,403 26,413 9,608 131,424 Dividends paid/payable to non-controlling (26,682 ) — — (26,682 ) Net cash inflow from operating activities 130,116 36,602 26,683 193,401 Net cash outflow from investing activities (874 ) (1,610 ) (21,947 ) (24,431 ) Net cash outflow from financing activities (116,452 ) (31,714 ) (2,511 ) (150,677 ) Net cash inflow 12,790 3,278 2,225 18,293 For the Year Ended March 31, 2022 (US dollars in million) HZL BALCO Others Total Revenue 3,795 1,793 1,523 7,111 Expenses (2,530 ) (1,443 ) (1,423 ) (5,396 ) Profit for the year 1,265 350 100 1,715 Profit attributable to equity holders of the Parent 821 179 67 1,067 Profit attributable to non-controlling 444 171 33 648 Profit for the year 1,265 350 100 1,715 Other comprehensive (loss)/income attributable to the equity holders of the Parent (5 ) (1 ) 18 12 Other comprehensive (loss) income non-controlling (3 ) (1 ) 10 6 Other comprehensive (loss)/income during the year (8 ) (2 ) 28 18 Total comprehensive income attributable to the equity holders of the Parent 816 178 85 1,079 Total comprehensive income attributable to non-controlling 441 171 41 653 Total comprehensive income during the year 1,257 349 126 1,732 Dividends paid/payable to non-controlling (352 ) — — (352 ) Net cash inflow from operating activities 1,715 482 352 2,549 Net cash outflow from investing activities (12 ) (21 ) (289 ) (322 ) Net cash outflow from financing activities (1,535 ) (418 ) (33 ) (1,986 ) Net cash inflow 168 43 30 241 |
Effect of Changes in Ownership Interests in Subsidiaries that did not Result in a Loss of Control | The effect of changes in ownership interests in subsidiaries that did not result in a loss of control is as follows: For the Year Ended March 31, 2020 ( ₹ In Million) HZL BALCO Others Total Changes in NCI — — (2,342 ) (2,342 ) For the Year Ended March 31, 2021 ( ₹ In Million) HZL BALCO Others Total Changes in NCI — — — — For the Year Ended March 31, 2022 ( ₹ In Million) HZL BALCO Others Total Changes in NCI — — — — For the Year Ended March 31, 2022 (US Dollars In Million) HZL BALCO Others Total Changes in NCI — — — — |
Capital management (Tables)
Capital management (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Capital | The following table summarizes the capital of the Group: As at March 31, 2021 2022 2022 ( ₹ in million) ( ₹ in million) (US dollars in million) Equity 734,049 807,122 10,637 Cash and cash equivalentsa 48,537 86,709 1,143 Short term investmentsa 276,494 233,755 3,081 Non-current b 1,107 2,017 27 Total cash (a) 326,138 322,481 4,251 Current borrowings (Note 22) 189,600 168,944 2,227 Non-current 379,622 362,023 4,772 Total debt (b) 569,222 530,967 6,999 Net debt (c=(b-a)) 243,084 208,486 2,748 Total capital (equity+net debt) (d) 977,133 1,015,608 13,385 Gearing ratio (c/d) 0.2 0.2 0.2 a) The constituents of ‘total cash’ for the purpose of capital management disclosure includes only those amounts of restricted funds that are corresponding to liabilities (e.g., margin money deposits). Consequently ₹ ₹ 6,900 N 17, 20 b) Additionally, Non-current ₹ ₹ , |
Commitments, guarantees, cont_2
Commitments, guarantees, contingencies and other disclosures (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Estimated Amount of Contracts Remaining to be Executed on Capital Accounts | Estimated amount of contracts remaining to be executed on capital accounts and not provided for: As at, March 31, March 31, March 31, ( ₹ in million) ( ₹ in million) (US dollars Oil & Gas sector Cairn Oil & Gas 15,547 21,690 286 Aluminium sector Lanjigarh Refinery (Phase II) 11,877 28,605 377 Jharsuguda 1.25 MTPA smelter 4,630 15,770 208 BALCO smelter expansion from 0.57 MTPA to 1 MTPA — 46,427 612 Zinc sector Zinc India (mines expansion, solar and smelter) 3,625 5,070 67 Gamsberg mining & milling project 938 2,064 27 Copper sector Tuticorin Smelter 400 KTPA* 29,951 30,514 402 Others 18,722 38,429 506 Total 85,290 188,569 2,485 * currently contracts are under suspension under the force majeure clause as per the contract |
Summary of Commitments Related to the Minimum Work Programme | Committed work programme (Other than capital commitment): As at, March 31, March 31, March 31, ( ₹ in million) ( ₹ in million) (US dollars Oil & Gas sector Cairn Oil and Gas (OALP - Oil and Gas blocks) 56,254 56,149 740 |
Interest in Other entities (Tab
Interest in Other entities (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Investments accounted for using equity method [abstract] | |
Summary of Group's Subsidiaries | a) Subsidiarie s The Group’s subsidiaries as at March 31, 2022 are Subsidiaries Principal activities Country of Immediate holding The The Cairn Energy India Pty Limited 1 Exploration for and development and production of oil & gas Australia Cairn India Holdings Limited — — Copper Mines of Tasmania Pty Limited Copper Mining Australia Monte Cello BV 100 100 Thalanga Copper Mines Pty Limited (“TCM”) Copper Mining Australia Monte Cello BV 100 100 Bharat Aluminium Company Limited (“BALCO”) Aluminium mining and smelting India Vedanta Limited 51 51 Desai Cement Company Private Limited a Cement India Sesa Mining Corporation Limited — 100 ESL Steel Limited Manufacturing of Steel & DI Pipe India Vedanta Limited 95.49 95.49 Facor Reality and Infrastructure Limited b Real estate India FACOR 100 100 FACOR Power Ltd 3 Power Generation India FACOR 90 90 Ferro Alloy Corporation Limited (FACOR) 3 Manufacturing of Ferro Alloys and Mining India Vedanta Limited 100 100 Goa Sea Port Private Limited 4 Infrastructure India Sterlite Ports Limited 100 100 Hindustan Zinc Alloys Private Limited c Zinc Mining & Smelting India Hindustan Zinc Limited — 64.92 Hindustan Zinc Limited (“HZL”) Zinc Mining & Smelting India Vedanta Limited 64.92 64.92 MALCO Energy Limited (“MEL”) Power Generation India Vedanta Limited 100 100 Maritime Ventures Private Limited 4 Infrastructure India Sterlite Ports Limited 100 100 Paradip Multi Cargo Berth Private Limited 4 Infrastructure India Vedanta Limited 100 100 Sesa Mining Corporation Limited 4 Iron ore mining India Sesa Resources Limited 100 100 Sesa Resources Limited (“SRL”) Iron ore mining India Vedanta Limited 100 100 Sterlite Ports Limited 4 Infrastructure India Vedanta Limited 100 100 Talwandi Sabo Power Limited (“TSPL”) Power Generation India Vedanta Limited 100 100 Vedanta Zinc Football & Sports Foundation j Sports Foundation India Hindustan Zinc Limited — 64.92 Vizag General Cargo Berth Private Limited Infrastructure India Vedanta Limited 100 100 AvanStrate Inc. (‘ASI’) Manufacturing of LCD Glass Substrate Japan Cairn India Holdings Limited 51.63 51.63 Cairn India Holdings Limited Investment company Jersey Vedanta Limited 100 100 AvanStrate Korea Inc Manufacturing of LCD Glass Substrate Korea Avanstrate (Japan) Inc. 100 100 Western Cluster Limited Iron ore mining Liberia Bloom Fountain Limited 100 100 Bloom Fountain Limited Investment Company Mauritius Vedanta Limited 100 100 CIG Mauritius Holdings Private Limited d Investment Company Mauritius Cairn Energy Hydrocarbons Ltd. 100 100 Subsidiaries Principal activities Country of Immediate holding The The CIG Mauritius Private Limite d d Investment Holding Company and to provide services and resources relevant to oil & gas exploration, production and development Mauritius CIG Mauritius Holding Private Ltd. 100 100 THL Zinc Ltd Investment Company Mauritius THL Zinc Ventures Limited 100 100 THL Zinc Ventures Limited Investment Company Mauritius Vedanta Limited 100 100 Amica Guesthouse (Proprietary) Limited Accomodation and catering services Nambia Skorpion Zinc 100 100 Namzinc (Proprietary) Limited Owns and operates a zinc refinery Nambia Skorpion Zinc 100 100 Skorpion Mining Company (Proprietary) Limited (‘NZ’) Exploration, Nambia Skorpion Zinc 100 100 Skorpion Zinc (Proprietary) Limited (‘SZPL’) Operating (zinc) and investing company Nambia THL Zinc Namibia 100 100 THL Zinc Namibia Holdings (Proprietary) Limited (“VNHL”) Mining and Nambia THL Zinc Ltd 100 100 Killoran Lisheen Finance Limited e Investment company Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Killoran Lisheen Mining Limited Development of a zinc/lead mine Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Lisheen Milling Limited Manufacturingh Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Lisheen Mine Partnership Development and Republic of Ireland 50% each held by 100 100 Vedanta Exploration Ireland Limited e Exploration activities Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Vedanta Lisheen Mining Limited Zinc and lead mining Republic of Ireland Vedanta Lisheen Holdings Limited 100 100 Cairn Energy Discovery Limited 1 Oil and gas exploration, development and production Scotland Cairn India Holdings Limited — — Cairn Energy Gujarat Block 1 Limited Oil and gas exploration, development and production Scotland Cairn India Holdings Limited 100 100 Cairn Energy Hydrocarbons Limited Oil and gas Scotlandf Cairn India Holdings Limited 100 100 Cairn Exploration (No. 2) Limited 1 Oil and gas exploration, development and production Scotland Cairn India Holdings Limited — — Black Mountain Mining (Proprietary) Limited Exploration, South Africa THL Zinc Ltd 74 74 Subsidiaries Principal activities Country of Immediate holding The The Cairn South Africa Pty Limited g Oil and gas exploration, development and production South Africa Cairn Energy Hydrocarbons Ltd. 100 — Cairn Lanka Private Limited Oil and gas exploration, development and production Sri Lanka CIG Mauritius Private Ltd. 100 100 AvanStrate Taiwan Inc Manufacturing of LCD Glass Substrate Taiwan Avanstrate (Japan) Inc. 100 100 Lakomasko BV Investment company The Netherlands THL Zinc Holding BV 100 100 Monte Cello BV (“MCBV”) Holding company The Netherlands Vedanta Limited 100 100 THL Zinc Holding BV Investment company The Netherlands Vedanta Limited 100 100 Vedanta Lisheen Holdings Limited Investment company The Netherlands THL Zinc Holding BV 100 100 Fujairah Gold FZC Manufacturing of United Arab Emirates Malco Energy Limited 100 100 Sterlite (USA) Inc. i Investment company United States of America Vedanta Limited 100 — (a) Acquired on November 15, 2021 (b) Passed a resolution for dissolving on March 8, 2022 (c) Incorporated on November 17, 2021 (d) Under Liquidation (e) Dissolved on June 9 (f) Principal place of business is in India (g) Cairn South Africa Pty Limited has been deregistered w.e.f. April 6, 2021 . (h) Activity of the company ceased in February 2016 (i) Liquidated on December 20, 2021 (j) Incorporated on December 21, 2021 1. Cairn Exploration (No. 2) Limited and Cairn Energy Discovery Limited have been dissolved w.e.f. September 22, 2020. Cairn Energy India (Pty) Ltd. was deregistered on August 26, 2020. 2. The Group also has interest in certain trusts which are neither significant nor material to the Group. 3. The Group has filed an application at NCLT Cuttack on September 16, 2021 for the merger of Ferro Alloy Corporation Limited (“FACOR”) and FACOR Power Limited. 4. The Group has filed an application at Mumbai NCLT on September 25, 2021 and at Chennai NCLT on September 29, 2021 for the merger of Maritime Ventures Private Limited, Sterlite Ports Limited, Paradip Multi Cargo Berth Private Limited, Goa Sea Port Private Limited with Sesa Mining Corporation Limited. |
Summary of Joint Operations | b) Joint Operations The Group participates in several unincorporated joint operations which involve the joint control of assets used in oil and gas exploration and producing activities which are as follows: Participating Operating Blocks Area As at March 31, As at March 31, India: Ravva block – Exploration and production Krishna Godavari 22.50 22.50 CB-OS/2 Cambay Offshore 60 60 CB-OS/2 Cambay Offshore 40 40 RJ-ON-90/1 Rajasthan Onshore 100 100 RJ-ON-90/1 Rajasthan Onshore 70 70 KG-OSN-2009/3 Krishna Godavari Offshore 100 100 Non-Operating India: KG-ONN-2003/1 Krishna Godavari Onshore 49 49 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Text block [abstract] | |
Summary of Significant Transactions with Related Parties | A summary of significant related party transactions for the year ended March 31, 2020, March 31, 2021 and March 31, 2022 are noted below: For the Year ended March 31, 2020 Entities controlling Associates/ Joint Ventures Others Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) Income: (i) Sales 8,554 — 22 8,576 (ii) Other Income a) Interest income /guarantee commission (Refer Note 35(c)) 423 — — 423 b) Outsourcing Service Income 30 — — 30 c) Dividend Income 17 — 39 56 Expenditure and other transactions: (i) Purchases of goods/services 581 — 67 648 (ii) Long Term Incentive Plan (Recovery) (4 ) — (2 ) (6 ) (iii) Management and brand fees expenses 5,257 — — 5,257 (iv) Reimbursement of other expenses (net of recovery) 479 — 1 480 (v) Corporate Social Responsibility Expenditure / donation — — 1,110 1,110 (vi) Contribution to Post retirement employee benefit trust — — 1,117 1,117 (vii) Remuneration to relative of Key Management Personnel (“KMP”) — — 169 169 (viii) Commission/Sitting Fees -To Independent directors — — 42 42 -To KMP — — 40 40 -To relatives of KMP — — 3 3 (ix) Dividend paid. -To Holding companies 7,267 — — 7,267 -To KMP — — 0 0 -To relatives of KMP — — 1 1 Transactions during the year: (i) Loans given / (repaid) 0 (3 ) — (3 ) (ii) Financial guarantee given — — 2 2 (iii) Financial guarantee relinquished — — 255 255 (iv) Investment made/(redeemed) (Refer Note 35 (f)) (44,847 ) — — (44,847 ) For the Year ended March 31, 2021 Entities controlling Associates/ Joint Ventures Others Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) Income: (i) Sales 7,357 — 37 7,394 (ii) Other Income a) Interest income /guarantee commission (Refer Note 35 (b)) 6,697 — — 6,697 b) Outsourcing Service Income 36 — — 36 c) Dividend Income 17 — — 17 Expenditure and other transactions: (i) Purchases of goods/services 760 — 546 1,306 (ii) Long Term Incentive Plan (Recovery) — — — — (iii) Management and brand fees expenses (Refer Note 35 (e)) 9,855 — — 9,855 (iv) Reimbursement of other expenses (net of recovery) 904 — (1 ) 903 (v) Corporate Social Responsibility Expenditure / donation — — 629 629 (vi) Contribution to Post retirement employee benefit trust — — 585 585 (vii) Remuneration to relative of KMP — — 127 127 (viii) Commission/Sitting Fees -To Independent directors — — 35 35 -To KMP — — 15 15 -To relatives of KMP — — 3 3 (ix) Dividend paid. -To Holding companies 17,703 — — 17,703 -To KMP — — 0 0 -To relatives of KMP — — 2 2 (x) Guarantee Commission Expense. (Refer Note 35 (a)) 1,332 — — 1,332 Transactions during the year: (i) Loans given (Net of repayment of ₹ 71,654 — — 71,654 (ii) Financial guarantee given 31,468 — — 31,468 (iii) Financial guarantee relinquished 31,458 — 115 31,573 For the Year ended March 31, 2022 Entities controlling Associates/ Joint Ventures Others Total Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) (US dollars in million) Income: (i) Sales 13,947 — 590 14,537 192 (ii) Other Income a) Interest income /guarantee commission (Refer Note 35 (b)) 7,210 — — 7,210 95 b) Outsourcing Service Income 36 — — 36 0 c) Dividend income 15 — — 15 0 d) Miscellaneous income — — 11 11 0 Expenditure and other transactions: (i) Purchases of goods/services 746 — 1,647 2,393 32 (ii) Long Term Incentive Plan (Recovery) — — — — — (iii) Management and brand fees expenses (Refer Note 35 (e)) 16,168 — — 16,168 213 (iv) Reimbursement of other expenses (net of recovery) 133 — 1 134 2 (v) Corporate Social Responsibility Expenditure / donation — — 451 451 6 (vi) Contribution to post retirement employee benefit trust — — 1,135 1,135 15 (vii) Remuneration to relative of KMP — — 228 228 3 (viii) Commission/Sitting Fees -To Independent directors — — 44 44 1 -To KMP — — 16 16 0 -To relatives of KMP — — 3 3 0 (ix) Dividend paid. -To Holding companies 113,460 — — 113,460 1,495 -To KMP — — 1 1 0 -To relatives of KMP — — 9 9 0 (x) Interest and guarantee commission expense. (Refer Note 35 (a)) 1,470 — — 1,470 19 Transactions during the year: (i) Loans given / (repayment thereof) (Refer Note 35 (b)) (16,227 ) — — (16,227 ) (214 ) (ii) Financial guarantee relinquished 10 — 43 53 1 (iii) Investment purchased/(redeemed) during the year — 1 — 1 0 (iv) Loan taken / (repayment thereof) (3 ) — — (3 ) (0 ) |
Summary of Significant Receivables From and Payables To Related Parties | As at March 31, 2021 Entities controlling Associates/ Others Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) Balances as at year end: (i) Trade Receivables 466 — — 466 (ii) Loans (Refer Note 35 (b), 35(g)) 70,663 49 — 70,712 (iii) Receivable from (Including brand fee prepaid) (Refer Note 35 (a, 9,271 10 23 9,304 (iv) Trade Payables 973 — 215 1,188 (v) Payable to (Including brand fee payable) (Refer N 2,078 — 866 2,943 (vi) Guarantees outstanding given 10 — 47 57 (vii) Banking Limits assigned/utilised/renewed to/for group companies (Refer Note 35 (d)) 1,150 — — 1,150 (viii) Remuneration, Commission and consultancy fees payable to KMP and their relatives — — 61 61 As at March 31, 2022 Entities controlling Associates/ Others Total Total ( ₹ in million) ( ₹ in million) ( ₹ in million) ( ₹ in million) (US dollars in million) Balances as at year end: (i) Trade Receivables 128 — 47 175 2 (ii) Loans (Refer Note 35 (b), 35(g)) 54,571 52 — 54,623 720 (iii) Receivable from (Including brand fee prepaid) (Refer Note 35 (a, 2,943 99 23 3,065 40 (iv) Trade Payables 670 — 307 977 13 (v) Payable to (Including brand fee payable) (Refer N 1,678 — 381 2,059 27 (vi) Guarantees outstanding given — — 4 4 0 (vii) Banking Limits assigned/utilised/renewed to/for group companies (Refer Note 35 (d)) 1,150 — — 1,150 15 (viii) Sitting fee, Remuneration, Commission — — 81 81 1 |
Summary of Remuneration of Key Management Personnel | Remuneration of key management personnel The remuneration of the key management personnel of the Group are set out below in aggregate for each of the categories specified in IAS 24 (Related party disclosures) Year ended March 31, 2020 2021 2022 2022 ( ₹ in ( ₹ in ( ₹ in (US dollars Short term employee benefits 396 * 277 340 5 Post-employment benefits** 79 10 10 0 Share based payments 12 2 10 0 Total 487 289 360 5 * This includes reimbursement to the parent company for remuneration paid to the then CEO and Whole Time Director of the Company aggregating to ₹ ($ ** Does not include the provision made for gratuity and leave benefits, as they are determined on an actuarial basis for all the employees together. |
Supplementary Information on _2
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Extractive Industries [Abstract] | |
Summary in tabular form of capitalized costs relating to oil and gas producing activities | The following table summarizes capitalized costs for oil and gas exploration and production activities with the related accumulated depreciation, depletion and amortization, and asset retirement obligation assets: India Sri Lanka South Africa ( ₹ in millions) ( ₹ in millions) ( ₹ in millions) March 31, 2022 Unproved oil and gas properties 43,705 59,571 2,751 Proved oil and gas properties 1,554,729 — — Support equipment 6,740 — 5 Gross Capitalized costs 1,605,174 59,571 2,756 Accumulated depreciation, depletion, and amortization, and valuation allowances (including impairment loss) (1,461,830 ) (59,571 ) (2,756 ) Net Capitalized costs 143,344 — — March 31, 2021 Unproved oil and gas properties 37,333 57,766 2,668 Proved oil and gas properties 1,521,179 — — Support equipment 6,657 Gross Capitalized costs 1,565,169 57,766 2,668 Accumulated depreciation, depletion, and amortization, and valuation allowances (including impairment loss) (1,456,963 ) (57,766 ) (2,673 ) Net Capitalized costs 108,206 — (5 ) March 31, 2020 Unproved oil and gas properties 33,033 58,959 2,728 Proved oil and gas properties 1,542,710 — — Support equipment 6,553 — — Gross Capitalized costs 1,582,296 58,959 2,728 Accumulated depreciation, depletion, and amortization, and valuation allowances (including impairment loss) (1,465,495 ) (58,959 ) (2,728 ) Net Capitalized costs 116,801 — — |
Summary of costs incurred expended and capitalized oil and natural gas | Costs incurred are summarized below and include both amounts expensed and capitalized: India Sri Lanka South Africa ( ₹ in millions) ( ₹ in millions) ( ₹ in millions) March 31, 2022 Acquisition of properties Proved Unproved Exploration costs (13,600 ) 6 — Development costs 8,195 — — Total (5,405 ) 6 — March 31, 2021 Acquisition of properties Proved Unproved Exploration costs 6,168 4 1 Development costs 8,640 — — Total 14,808 4 1 March 31, 2020 Acquisition of properties Proved Unproved Exploration costs 3,061 5 9 Development costs 41,677 — — Total 44,738 5 9 * Figures in brackets ( ) represents reversal/ transfers between exploration and development costs. |
Summary in tabular form of operating profit after tax from oil and natural gas producing activities excluding overheads and interest costs | India Sri Lanka South Africa ( ₹ in millions) ( ₹ in millions) ( ₹ in millions) Year ended March 31, 2022 Revenues Sales 124,301 — — Transfers — — — Operating Income 233 — — Total 124,534 — — Production costs (59,565 ) — — Exploration (expenses)/ reversal (26,180 ) (1 ) — Depreciation, depletion and amortization and valuation provisions 39,858 — — (including impairment loss/reversal) — Results before income tax expenses 78,647 (1 ) — Income tax expenses (34,741 ) — — Results of operations from producing activities (excluding corporate overhead and interest costs) 43,906 (1 ) — Year ended March 31, 2021 Revenues Sales 75,308 — — Transfers — — — Operating Income 342 — — Total 75,650 — — Production costs (39,582 ) — — Exploration (expenses)/ reversal (69 ) (1 ) — Depreciation, depletion and amortization and valuation provisions — (including impairment loss/reversal) (21,235 ) — — Results before income tax expenses 14,764 (1 ) — Income tax expenses (3,031 ) — — Results of operations from producing activities (excluding corporate overhead and interest costs) 11,733 (1 ) — — Year ended March 31, 2020 Revenues Sales 126,608 — — Transfers — — — Operating Income 188 — — Total 126,796 — — Production costs (50,251 ) — — Exploration expenses (22 ) (4 ) (1 ) Depreciation, depletion and amortization and valuation provisions (including impairment loss) (175,086 ) — — Results before income tax expenses (98,563 ) (4 ) (1 ) Income tax expenses 33,868 — — Results of operations from producing activities (excluding corporate overhead and interest costs) (64,695 ) (4 ) (1 ) |
Summary in tabular form of annual changes in the proved reserves of oil | A summary of the annual changes in the proved reserves of oil is as follows (in mmbbls): Proved developed and undeveloped reserves India Sri Lanka South Africa Total Reserves at March 31, 2019 126.83 — — 126.83 Revisions of previous estimates 5.40 — — 5.40 Extensions and discoveries 0.04 — — 0.04 Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (28.23 ) — — (28.23 ) Reserves at March 31, 2020 104.04 — — 104.04 Revisions of previous estimates 21.47 — — 21.47 Extensions and discoveries 0.67 — — 0.67 Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (21.88 ) — — (21.88 ) Reserves at March 31, 2021 104.30 — — 104.30 Revisions of previous estimates (10.23 ) — — (10.23 ) Extensions and discoveries — — — — Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (19.00 ) — — (19.00 ) Reserves at March 31, 2022 75.07 — — 75.07 |
Summary in tabular form of annual changes in the proved reserves of natural gas | A summary of the annual changes in the proved reserves of natural gas is as follows (in bcf): Proved developed and undeveloped reserves India Sri Lanka South Africa Total Reserves at March 31, 2019 95.37 — — 95.37 Revisions of previous estimates 42.37 — — 42.37 Extensions and discoveries — — — — Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (18.71 ) — — (18.71 ) Reserves at March 31, 2020 119.03 — — 119.03 Revisions of previous estimates 9.21 — — 9.21 Extensions and discoveries — — — — Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (18.46 ) — — (18.46 ) Reserves at March 31, 2021 109.78 — — 109.78 Revisions of previous estimates (14.57 ) — — (14.57 ) Extensions and discoveries 1.12 — — 1.12 Improved Recovery — — — — Sales of reserves — — — — Purchases of reserves — — — — Production for the year (20.8 ) — — (20.8 ) Reserves at March 31, 2022 75.53 — — 75.53 |
Summary of net proved developed and undeveloped reserves | 2022 2021 2020 Crude Oil Natural gas Crude Oil Natural gas Crude Oil Natural gas (mmbbls) (bcf) (mmbbls) (bcf) (mmbbls) (bcf) Net proved developed reserves: India 64.91 67.77 98.96 98.75 91.49 100.45 Sri Lanka — — — — — — South Africa — — — — — — Total net proved developed reserves 64.91 67.77 98.96 98.75 91.49 100.45 Net proved undeveloped reserves: India 10.17 7.75 5.34 11.02 12.55 18.57 Sri Lanka — — — — — — South Africa — — — — — — Total net proved undeveloped reserves 10.17 7.75 5.34 11.02 12.55 18.57 |
Summary of standardized measure of discounted future net cash flows relating to proved oil and gas quantities and changes | India ( ₹ Sri Lanka ( ₹ South Africa ( ₹ Total ( ₹ At March 31, 2022 Future cash inflows 489,013 — — 489,013 Future production costs (258,748 ) — — (258,748 ) Future development costs (46,791 ) — — (46,791 ) Future income tax expenses (55,714 ) — — (55,714 ) Undiscounted future net cash flows 127,760 — — 127,760 10 percent midyear annual discount for timing of estimated cash Flows (33,306 ) — — (33,306 ) Standardized measure of discounted future net cash flows 94,454 — — 94,454 At March 31, 2021 Future cash inflows 333,722 — — 333,722 Future production costs (232,675 ) — — (232,675 ) Future development costs (31,722 ) — — (31,722 ) Future income tax expenses (10,603 ) — — (10,603 ) Undiscounted future net cash flows 58,722 — — 58,722 10 percent midyear annual discount for timing of estimated cash Flows (19,577 ) — — (19,577 ) Standardized measure of discounted future net cash flows 39,145 — — 39,145 At March 31, 2020 Future cash inflows 493,984 — — 493,984 Future production costs (301,972 ) — — (301,972 ) Future development costs (28,465 ) — — (28,465 ) Future income tax expenses (43,544 ) — — (43,544 ) Undiscounted future net cash flows 120,003 — — 120,003 10 percent midyear annual discount for timing of estimated cash Flows (33,298 ) — — (33,298 ) Standardized measure of discounted future net cash flows 86,705 — — 86,705 |
Summary of change in standardized measure of discounted future net cash flows | India ₹ Sri Lanka ₹ South Africa ₹ Total ₹ Balance at April 1, 2021 39,145 — — 39,145 Sales and transfers of oil and gas, net of production cost (65,680 ) — — (65,680 ) Development cost incurred 10,590 — — 10,590 Net change due to purchases and sales of minerals in place — — — — Net change due to extensions, discoveries and improved recovery less related costs 8 — — 8 Net change due to revisions in quantity estimates (22,829 ) — — (22,829 ) Net change in prices, transfer prices and in production cost 116,478 — — 116,478 Changes in estimated future development costs 45,813 — — 45,813 Accretion of discount 4,974 — — 4,974 Net change in income taxes (34,045 ) — (34,045 ) Timing — — — — Balance at March 31, 2022 94,454 — — 94,454 Balance at April 1, 2020 86,705 — — 86,705 Sales and transfers of oil and gas, net of production cost (35,349 ) — — (35,349 ) Development cost incurred 8,720 — — 8,720 Net change due to purchases and sales of minerals in place — — — — Net change due to extensions, discoveries and improved recovery less related costs 354 354 Net change due to revisions in quantity estimates 12,944 — — 12,944 Net change in prices, transfer prices and in production cost (58,612 ) — — (58,612 ) Changes in estimated future development costs (13,021 ) — — (13,021 ) Accretion of discount 13,026 — — 13,026 Net change in income taxes 24,378 — — 24,378 Timing — — — — Balance at March 31, 2021 39,145 — — 39,145 Balance at April 1, 2019 114,044 — — 114,044 Sales and transfers of oil and gas, net of production cost (80,409 ) — — (80,409 ) Development cost incurred 39,114 — — 39,114 Net change due to purchases and sales of minerals in place — — — — Net change due to extensions, discoveries and improved recovery less related costs 43 — — 43 Net change due to revisions in quantity estimates 13,595 — — 13,595 Net change in prices, transfer prices and in production cost (35,288 ) — — (35,288 ) Changes in estimated future development costs (436 ) — — (436 ) Accretion of discount 18,193 — — 18,193 Net change in income taxes 17,849 — — 17,849 Timing — — — — Balance at March 31, 2020 86,705 — — 86,705 |
Group overview - Additional inf
Group overview - Additional information (Detail) | 1 Months Ended | 12 Months Ended | ||
Jul. 31, 2019 shares | Mar. 31, 2022 TPA MW Mines MT shares | Mar. 31, 2021 shares | Jul. 31, 2009 shares | |
Disclosure of general information [line items] | ||||
Number of shares issued | shares | 160,903,244 | |||
Power plant capacity | MW | 1,215 | |||
Ferro alloys corporation limited [Member] | ||||
Disclosure of general information [line items] | ||||
Power plant capacity | MW | 100 | |||
Capacity of the plant | TPA | 72,000 | |||
Number of chrome mines owned | Mines | 2 | |||
DCCPL [Member] | ||||
Disclosure of general information [line items] | ||||
Capacity of Three Ball Mills | TPA | 218,000 | |||
Vedanta Resources Limited [member] | ||||
Disclosure of general information [line items] | ||||
Ownership interest percentage of associate | 69.68% | 55.10% | ||
Number of shares acquired | shares | 541,731,161 | |||
Percentage of share holdings in company | 69.68% | 55.10% | ||
American depositary shares [member] | ||||
Disclosure of general information [line items] | ||||
Number of shares issued | shares | 131,906,011 | |||
Number of equity share each ADS comprise | shares | 4 | |||
Copper segment [member] | Tuticorin [member] | ||||
Disclosure of general information [line items] | ||||
Capacity smelter plant | TPA | 400,000 | |||
Copper segment [member] | Silvassa [Member] | ||||
Disclosure of general information [line items] | ||||
Capacity of blister secondary material processing plant | MT | 133,000 | |||
Capacity of refinery plant | TPA | 216,000 | |||
Capacity of rod mill | TPA | 258,000 | |||
Power segment [member] | Jharsuguda, India [member] | ||||
Disclosure of general information [line items] | ||||
Capacity smelter plant | MW | 600 | |||
Power segment [member] | Bharat aluminium company limited [member] | ||||
Disclosure of general information [line items] | ||||
Capacity smelter plant | MW | 600 | |||
Power segment [member] | Talwandi Sabo Power Limited TSPL [member] | ||||
Disclosure of general information [line items] | ||||
Capacity smelter plant | MW | 1,980 |
Basis of preparation and basi_3
Basis of preparation and basis of measurement of financial statements - Additional Information (Detail) | 12 Months Ended | |
Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of basis of preparation of financial statements [abstract] | ||
Noon buying rate | 75.87 | |
Trade and other receivables reclassified to acceptances | ₨ 136,000,000 | |
Trade and other payables reclassified to acceptances | ₨ 2,684,000,000 |
Significant accounting polici_3
Significant accounting policies - Summary of Estimated Useful Life of Assets (Detail) | 12 Months Ended |
Mar. 31, 2022 | |
Buildings (residential; factory etc.) [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of assets | 3 - 60 |
Plant and equipment [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of assets | 15 - 40 |
Railway sidings [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of assets | 15 |
Office equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of assets | 3 - 6 |
Furniture and fixtures [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of assets | 8 - 10 |
Vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of assets | 8 - 10 |
Significant accounting polici_4
Significant accounting policies - Summary of effective date of new pronouncement (Detail) | 12 Months Ended |
Mar. 31, 2022 | |
Reference to the Conceptual Framework – Amendments to IFRS 3 [member] | |
Disclosure Of Effective Date Of New Pronouncement [Line Items] | |
Effective date | Jan. 01, 2022 |
Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 [member] | |
Disclosure Of Effective Date Of New Pronouncement [Line Items] | |
Effective date | Jan. 01, 2022 |
Onerous Contracts – Costs of Fulfilling a Contract – Amendments to IAS 37 [member] | |
Disclosure Of Effective Date Of New Pronouncement [Line Items] | |
Effective date | Jan. 01, 2022 |
AIP IFRS 9 Financial Instruments – Fees in the ‘10 per cent' test for derecognition of financial liabilities [member] | |
Disclosure Of Effective Date Of New Pronouncement [Line Items] | |
Effective date | Jan. 01, 2022 |
Classification of Liabilities as Current or Non-current - Amendments to IAS 1 [member] | |
Disclosure Of Effective Date Of New Pronouncement [Line Items] | |
Effective date | Jan. 01, 2023 |
Definition of Accounting Estimates - Amendments to IAS 8 [member] | |
Disclosure Of Effective Date Of New Pronouncement [Line Items] | |
Effective date | Jan. 01, 2023 |
Disclosure of Accounting Policies - Amendments to IAS 1 and IFRS Practice Statement 2 [member] | |
Disclosure Of Effective Date Of New Pronouncement [Line Items] | |
Effective date | Jan. 01, 2023 |
Significant accounting polici_5
Significant accounting policies - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||||||||||
Apr. 30, 2022 INR (₨) | Sep. 30, 2021 INR (₨) | Apr. 04, 2021 | Mar. 30, 2021 | May 29, 2018 a | Apr. 07, 2017 | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | Mar. 31, 2017 INR (₨) | Mar. 31, 2017 USD ($) | Mar. 31, 2022 USD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Concession period for Port concession rights | 30 years from the date of the award | 30 years from the date of the award | |||||||||||
Alloted land for future expansion cancelled due to dispute | a | 342.22 | ||||||||||||
Mining related inventory | ₨ 143,253 | ₨ 99,509 | $ 1,888 | ||||||||||
Carrying amount of assets | 1,929,507 | 1,771,247 | 25,432 | ||||||||||
Carrying value of existing plant assets at copper | ₨ 17,281 | ₨ 18,257 | 228 | ||||||||||
DGH demand relating to audit exceptions | ₨ 259 | ||||||||||||
Statutory income tax rate | 34.94% | 34.94% | 34.94% | 34.94% | |||||||||
Effective From First April Two Thousand And Nineteen [Member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Statutory income tax rate | 22% | 22% | |||||||||||
Before First Of April Two Thousand And Ninteen [Member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Statutory income tax rate | 30% | 30% | |||||||||||
Vedantha limited and subsidaries limited [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Cost Incurred In Field Development Plan | ₨ 202 | ||||||||||||
Development area [member] | Rajasthan block [member] | Vedantha limited and subsidaries limited [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Period Of Block Extension Not Objected By Court | 10-year | 10-year | |||||||||||
Production sharing contract [member] | Development area [member] | Rajasthan block [member] | Government of India [Member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Costs incurred field development plan | ₨ 15,240 | $ 202 | |||||||||||
Vedanta limited and subsidaries [member] | Development area [member] | Rajasthan block [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Increase in GOI share of profit oil | 10% | ||||||||||||
Common costs field development plan | 27,520 | 364 | |||||||||||
Perod of RJ block extenson | 10 years | ||||||||||||
Revised common costs field development plan | ₨ 34,650 | $ 458 | |||||||||||
Legal Dispute On Percentage Increase In Share Of Profit Petroleum. | 10% | 10% | |||||||||||
Vedanta limited and subsidaries [member] | Development area [member] | Rajasthan block [member] | May 15, 2020 till 31st Dec 2020 [Member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Percentage Of Additional Profit Petroleum Paid Due To Government | 10% | ||||||||||||
Vedanta limited and subsidaries [member] | Development area [member] | Rajasthan block [member] | January 01, 2021 to March 31, 2021 | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Percentage Of Additional Profit Petroleum Paid Due To Government | 10% | ||||||||||||
Vedanta limited and subsidaries [member] | Production sharing contract [member] | Development area [member] | Rajasthan block [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Common costs field development plan | ₨ 27,520 | $ 364 | |||||||||||
ESL Steel Limited [Member] | Other environment related provision [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Provision for environment clearance | ₨ 69 | $ 1 | ₨ 2,135 | ||||||||||
ESL Steel Limited [Member] | Wildlife Conservation Plan [Member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Additional Provision Provided Against Final Order Relating To Conservation Plan | ₨ 69 | $ 1 | |||||||||||
Top of range [member] | Raw materials [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Bank acceptances liabilities maturity period | 12 months | 12 months | |||||||||||
Top of range [member] | Project materials [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Bank acceptances liabilities maturity period | 36 months | 36 months | |||||||||||
Software [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Useful life of other intangible assets | 2-5 years | 2-5 years | |||||||||||
Mining rights [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Useful life of other intangible assets | 16-25 years | 16-25 years | |||||||||||
Technological know-how and brand [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Useful life of other intangible assets | ten years | ten years | |||||||||||
Assets Under Expansion [member] | |||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||
Mining related inventory | ₨ 3,007 | 40 | |||||||||||
Impairment loss | ₨ 6,692 | ||||||||||||
Carrying amount of assets | 410 | ₨ 965 | 5 | ||||||||||
Carrying value of existing and expansion plant assets | ₨ 12,129 | $ 160 |
Business Combination and Othe_2
Business Combination and Others - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Sep. 21, 2020 TPA MW Mines | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | |
Statement [LineItems] | |||
Thermal power capacity | MW | 100 | ||
Ferro Alloys Corporation Limited [Member] | |||
Statement [LineItems] | |||
Proportion of ownership interest in subsidiary | 90% | ||
Capacity of the plant | TPA | 72,000 | ||
Number of chrome mines owned | Mines | 2 | ||
Revenue of combined entity as if combination occurred at beginning of period | ₨ 870,867 | $ 11,907 | |
Profit of combined entity as if combination occurred at beginning of period | ₨ 166,237 | $ 2,273 | |
Percentage of equity stake acquired | 100% | 100% |
Segment Information - Additiona
Segment Information - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) Segments | Mar. 31, 2022 USD ($) Segments | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of operating segments [line items] | ||||
Number of reportable segments | Segments | 7 | 7 | ||
Revenue | ₨ 1,311,917 | $ 17,292 | ₨ 868,630 | ₨ 835,446 |
One Major Customer [Member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | ₨ | ₨ 104,164 | |||
Other Customers [Member] | ||||
Disclosure of operating segments [line items] | ||||
Percentage of entity's revenue | 10% | 10% |
Segment Information - Schedule
Segment Information - Schedule of Revenue and Profit Information and Certain Assets (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 USD ($) | ||||
Disclosure of operating segments [line items] | |||||||||
Revenue | ₨ 1,311,917 | $ 17,292 | ₨ 868,630 | ₨ 835,446 | |||||
Depreciation and amortisation | (91,148) | (1,201) | (81,178) | (100,490) | |||||
Impairment reversal/(charge) | 62,745 | 827 | 0 | (148,022) | |||||
Cost of sales and expenses | (858,956) | (11,321) | (595,015) | (625,343) | |||||
Other items | (8,049) | (108) | (3,145) | (1,525) | |||||
Exploration Cost written off | (26,181) | (345) | 0 | 0 | |||||
Asset under construction written off | (701) | (9) | (2,440) | 0 | |||||
Segment profit/(loss) | 389,627 | 5,135 | 186,852 | (39,934) | |||||
Investment and other income | 19,947 | 263 | 32,177 | 25,714 | |||||
Finance and other costs | (49,427) | (651) | (52,955) | (54,557) | |||||
(Loss)/Profit before tax | 360,147 | 4,747 | 166,074 | (68,777) | |||||
Financial assets investments | 1,472 | 1,532 | 911 | $ 19 | $ 20 | ||||
Deferred tax asset | 64,537 | 73,958 | 851 | ||||||
Short-term investments | 235,932 | 281,775 | 3,110 | ||||||
Cash and cash equivalents (including restricted cash and cash equivalents) | 91,383 | 49,563 | 1,205 | ||||||
Income tax assets | 27,877 | 27,549 | 367 | ||||||
Loans to related party | 70,712 | ||||||||
Others | 70,476 | 12,779 | 929 | ||||||
Total assets | 1,929,507 | 1,771,247 | 25,432 | ||||||
Borrowings | 530,967 | [1] | 569,222 | [1] | 579,475 | 6,999 | [1] | $ 7,503 | |
Current tax liabilities | 9,192 | 2,792 | 121 | ||||||
Deferred tax liabilities | 52,988 | 21,894 | 698 | ||||||
Others | 13,588 | 21,554 | 181 | ||||||
Total liabilities | 1,122,385 | 1,037,198 | 14,795 | ||||||
Additions to property, plant and equipments, exploration and evaluation assets and intangible assets | 120,469 | 1,588 | 69,155 | 119,668 | |||||
Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 1,311,917 | 17,292 | 868,630 | 835,446 | |||||
Segment profit/(loss) | 452,961 | $ 5,971 | 273,615 | 210,103 | |||||
Total assets | 1,437,830 | 1,253,379 | 18,951 | ||||||
Total liabilities | 515,650 | 421,736 | $ 6,796 | ||||||
Copper segment [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 151,511 | 108,879 | 90,517 | ||||||
Depreciation and amortisation | (1,467) | (1,533) | (1,471) | ||||||
Impairment reversal/(charge) | (6,692) | ||||||||
Cost of sales and expenses | (152,642) | (110,650) | (93,420) | ||||||
Other items | (2,126) | (2,086) | (2,028) | ||||||
Segment profit/(loss) | (4,724) | (5,372) | (13,085) | ||||||
Additions to property, plant and equipments, exploration and evaluation assets and intangible assets | 395 | 622 | 2,192 | ||||||
Copper segment [member] | Elimination of intersegment amounts [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 0 | 18 | 9 | ||||||
Copper segment [member] | Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 151,511 | 108,897 | 90,526 | ||||||
Segment profit/(loss) | (1,131) | (1,753) | (2,894) | ||||||
Total assets | 56,569 | 59,570 | |||||||
Total liabilities | 49,703 | 43,277 | |||||||
Zinc India segment [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 286,241 | 219,316 | 181,590 | ||||||
Depreciation and amortisation | (28,082) | (24,617) | (22,610) | ||||||
Cost of sales and expenses | (124,621) | (103,116) | (94,450) | ||||||
Other items | (1,342) | 0 | |||||||
Segment profit/(loss) | 132,196 | 91,583 | 64,530 | ||||||
Additions to property, plant and equipments, exploration and evaluation assets and intangible assets | 38,284 | 25,163 | 46,088 | ||||||
Zinc India segment [member] | Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 286,241 | 219,316 | 181,590 | ||||||
Segment profit/(loss) | 161,620 | 116,200 | 87,140 | ||||||
Total assets | 215,297 | 200,072 | |||||||
Total liabilities | 50,191 | 47,217 | |||||||
Zinc International Segment [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 44,841 | 27,290 | 31,275 | ||||||
Depreciation and amortisation | (5,126) | (3,211) | (6,329) | ||||||
Cost of sales and expenses | (29,501) | (19,190) | (27,477) | ||||||
Other items | (46) | (40) | (42) | ||||||
Segment profit/(loss) | 10,171 | 4,849 | (2,573) | ||||||
Additions to property, plant and equipments, exploration and evaluation assets and intangible assets | 11,037 | 3,754 | 7,552 | ||||||
Zinc International Segment [member] | Elimination of intersegment amounts [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 3 | ||||||||
Zinc International Segment [member] | Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 44,844 | 27,290 | 31,275 | ||||||
Segment profit/(loss) | 15,343 | 8,100 | 3,798 | ||||||
Total assets | 69,938 | 60,740 | |||||||
Total liabilities | 11,594 | 10,672 | |||||||
Aluminium segment [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 508,091 | 285,756 | 265,445 | ||||||
Depreciation and amortisation | (19,960) | (16,926) | (17,183) | ||||||
Cost of sales and expenses | (335,435) | (208,919) | (245,837) | ||||||
Other items | (3,757) | 950 | 1,681 | ||||||
Asset under construction written off | (1,811) | ||||||||
Segment profit/(loss) | 149,657 | 59,736 | 4,434 | ||||||
Additions to property, plant and equipments, exploration and evaluation assets and intangible assets | 35,835 | 17,135 | 14,187 | ||||||
Aluminium segment [member] | Elimination of intersegment amounts [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 718 | 686 | 328 | ||||||
Aluminium segment [member] | Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 508,809 | 286,442 | 265,773 | ||||||
Segment profit/(loss) | 173,374 | 77,523 | 19,936 | ||||||
Total assets | 535,182 | 477,070 | |||||||
Total liabilities | 173,784 | 156,994 | |||||||
Power segment [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 55,005 | 53,752 | 58,599 | ||||||
Depreciation and amortisation | (5,700) | (5,749) | (5,701) | ||||||
Cost of sales and expenses | (47,439) | (39,682) | (42,109) | ||||||
Other items | (370) | ||||||||
Segment profit/(loss) | 4,746 | 8,321 | 10,789 | ||||||
Additions to property, plant and equipments, exploration and evaluation assets and intangible assets | 1,067 | 267 | 671 | ||||||
Power segment [member] | Elimination of intersegment amounts [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 3,250 | 0 | |||||||
Power segment [member] | Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 58,255 | 53,752 | 58,599 | ||||||
Segment profit/(loss) | 10,816 | 14,070 | 16,490 | ||||||
Total assets | 160,665 | 163,620 | |||||||
Total liabilities | 17,152 | 18,405 | |||||||
Iron Ore Segment [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 62,330 | 44,875 | 34,500 | ||||||
Depreciation and amortisation | (2,385) | (2,208) | (2,413) | ||||||
Impairment reversal/(charge) | (1,201) | ||||||||
Cost of sales and expenses | (40,830) | (27,108) | (26,318) | ||||||
Segment profit/(loss) | 20,285 | 15,968 | 4,698 | ||||||
Additions to property, plant and equipments, exploration and evaluation assets and intangible assets | 2,965 | 985 | 1,081 | ||||||
Iron Ore Segment [member] | Elimination of intersegment amounts [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 1,170 | 409 | 130 | ||||||
Iron Ore Segment [member] | Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 63,500 | 45,284 | 34,630 | ||||||
Segment profit/(loss) | 22,670 | 18,176 | 8,312 | ||||||
Total assets | 46,027 | 33,039 | |||||||
Total liabilities | 25,171 | 12,269 | |||||||
Oil and gas segment [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 124,301 | 75,308 | 126,608 | ||||||
Depreciation and amortisation | (22,949) | (21,274) | (40,077) | ||||||
Impairment reversal/(charge) | 62,745 | (135,031) | |||||||
Cost of sales and expenses | (64,415) | (43,142) | (53,925) | ||||||
Exploration Cost written off | (26,181) | ||||||||
Segment profit/(loss) | 73,501 | 10,892 | (102,425) | ||||||
Additions to property, plant and equipments, exploration and evaluation assets and intangible assets | 17,875 | 15,192 | 45,490 | ||||||
Oil and gas segment [member] | Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 124,301 | 75,308 | 126,608 | ||||||
Segment profit/(loss) | 59,886 | 32,166 | 72,683 | ||||||
Total assets | 262,757 | 181,108 | |||||||
Total liabilities | 161,376 | 111,776 | |||||||
All other segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 79,597 | 53,454 | 46,912 | ||||||
Depreciation and amortisation | (5,479) | (5,660) | (4,706) | ||||||
Impairment reversal/(charge) | (5,098) | ||||||||
Cost of sales and expenses | (69,332) | (44,634) | (43,187) | ||||||
Other items | (69) | (2,135) | |||||||
Asset under construction written off | (701) | (629) | |||||||
Segment profit/(loss) | 4,134 | 709 | (5,166) | ||||||
Additions to property, plant and equipments, exploration and evaluation assets and intangible assets | 12,812 | 6,019 | 2,373 | ||||||
All other segments [member] | Elimination of intersegment amounts [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 118 | 313 | 913 | ||||||
All other segments [member] | Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | 79,715 | 53,767 | 47,825 | ||||||
Segment profit/(loss) | 10,383 | 9,133 | 4,638 | ||||||
Total assets | 91,395 | 78,160 | |||||||
Total liabilities | 26,679 | 21,126 | |||||||
Elimination [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Cost of sales and expenses | 5,259 | 1,426 | 1,380 | ||||||
Elimination [member] | Elimination of intersegment amounts [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | (5,259) | (1,426) | (1,380) | ||||||
Elimination [member] | Operating segments [member] | |||||||||
Disclosure of operating segments [line items] | |||||||||
Revenue | ₨ (5,259) | ₨ (1,426) | ₨ (1,380) | ||||||
[1]Additionally, Non-current bank deposits of ₹ 1,107 million and ₹ 2,017 million ($ 27 million) as at March 31, 2021 and March 31, 2022 respectively have been included to form part of ‘total cash’ in the capital management disclosures. |
Segment Information - Schedul_2
Segment Information - Schedule of Revenue and Profit Information and Certain Assets (Parenthetical) (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of transactions between related parties [line items] | ||||
Unallocated forex on MAT credit entitlements | ₨ 339 | $ 4 | ₨ 166 | ₨ 1,136 |
Liabilities Written Off | (647) | (9) | (950) | (1,681) |
Other environment related provision [member] | ESL Steel Limited [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Provision for environment clearance | 69 | 1 | 2,135 | |
Legacy Fly Ash Utilization [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Provision for environment clearance | 2,877 | 38 | ||
Charge For Settlement Of Entry Tax Dispute Under Amnesty Scheme [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Provision for environment clearance | 1,342 | 18 | ||
For Inoperable Mining Project [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Provision for environment clearance | 1,250 | 16 | ||
All other segments [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Additions through business combination | 3,543 | |||
Elimination [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Additions | 199 | 3 | 18 | 34 |
Konkola Copper Mines ('KCM')[member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Receivables Written Off | ₨ 2,172 | $ 29 | 2,127 | 2,070 |
Liabilities Written Off | ₨ 950 | ₨ 1,681 |
Segment Information - Schedul_3
Segment Information - Schedule of Geographical Segment Analysis (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of geographical areas [line items] | ||||
Revenue | ₨ 1,311,917 | $ 17,292 | ₨ 868,630 | ₨ 835,446 |
India [member] | ||||
Disclosure of geographical areas [line items] | ||||
Revenue | 736,192 | 9,703 | 536,212 | 542,256 |
Europe [Member] | ||||
Disclosure of geographical areas [line items] | ||||
Revenue | 210,282 | 2,772 | 35,960 | 40,224 |
China [member] | ||||
Disclosure of geographical areas [line items] | ||||
Revenue | 96,671 | 1,274 | 52,213 | 26,942 |
The United States of America [Member] | ||||
Disclosure of geographical areas [line items] | ||||
Revenue | 34,871 | 460 | 11,634 | 17,068 |
Mexico | ||||
Disclosure of geographical areas [line items] | ||||
Revenue | 23,111 | 305 | 9,318 | 6,496 |
Malaysia [member] | ||||
Disclosure of geographical areas [line items] | ||||
Revenue | 5,480 | 72 | 71,092 | 76,479 |
Others [member] | ||||
Disclosure of geographical areas [line items] | ||||
Revenue | ₨ 205,310 | $ 2,706 | ₨ 152,201 | ₨ 125,981 |
Segment Information - Analysis
Segment Information - Analysis of Carrying Amount of Non-Current Assets, Being Property, Plant and Equipment, Exploration and Evaluation Assets and Other Intangible Assets and Leasehold Land Prepayments Analysed by Geographical Area (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of geographical areas [line items] | |||
Non current assets | ₨ 1,085,174 | $ 14,304 | ₨ 1,025,897 |
India [member] | |||
Disclosure of geographical areas [line items] | |||
Non current assets | 1,008,838 | 13,297 | 954,629 |
South Africa [member] | |||
Disclosure of geographical areas [line items] | |||
Non current assets | 51,048 | 673 | 44,486 |
Namibia [member] | |||
Disclosure of geographical areas [line items] | |||
Non current assets | 9,904 | 131 | 8,870 |
Taiwan [member] | |||
Disclosure of geographical areas [line items] | |||
Non current assets | 8,928 | 118 | 10,029 |
Others [member] | |||
Disclosure of geographical areas [line items] | |||
Non current assets | ₨ 6,456 | $ 85 | ₨ 7,883 |
Segment Information - Summary o
Segment Information - Summary of Disaggregated Revenue from Contracts with Customers (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | ₨ 1,311,005 | $ 17,280 | ₨ 855,444 | ₨ 818,952 |
Revenue from contingent rents | 13,812 | 182 | 15,147 | 16,729 |
Loss on provisionally priced contracts under IFRS 9 (Refer Note 6(a)) | (12,900) | (170) | (1,961) | (12,995) |
JV partner's share of the exploration costs approved under the OM (Refer Note 6(b)) | 12,760 | |||
Total revenue | 1,311,917 | 17,292 | 868,630 | 835,446 |
Oil [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 102,751 | 1,354 | 64,798 | 109,062 |
Gas [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 17,119 | 226 | 6,837 | 7,945 |
Zinc Metal [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 247,092 | 3,257 | 166,343 | 157,559 |
Lead Metal [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 42,400 | 559 | 38,803 | 34,702 |
Silver Metal & Bars [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 42,151 | 556 | 43,949 | 24,756 |
Iron Ore [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 23,538 | 310 | 21,734 | 14,820 |
Metallurgical Coke [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 4,065 | 54 | 2,565 | 553 |
Pig Iron [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 41,231 | 543 | 24,249 | 22,394 |
Copper Products [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 142,812 | 1,882 | 102,049 | 73,489 |
Aluminium products [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 512,535 | 6,755 | 283,944 | 254,293 |
Power [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 38,861 | 512 | 36,509 | 44,064 |
Steel Products [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 56,977 | 751 | 39,663 | 37,850 |
Ferro Alloys [Member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | 8,300 | 109 | 2,740 | |
Others [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Revenue from contracts with customers | ₨ 31,173 | $ 412 | ₨ 21,261 | ₨ 37,465 |
Segment Information - Summary_2
Segment Information - Summary of Disaggregated Revenue from Contracts with Customers (Parenthetical) (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Sale of services | ₨ 3,007 | $ 40 | ₨ 2,239 | ₨ 2,159 |
Performance obligations satisfied over time [member] | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Sale of services | ₨ 3,007 | $ 40 | ₨ 2,239 | ₨ 2,159 |
Revenue - Detailed Information
Revenue - Detailed Information about Revenue (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Revenue [abstract] | ||||
Sale of products | ₨ 1,295,098 | $ 17,070 | ₨ 851,244 | ₨ 816,558 |
Sale of services | 3,007 | 40 | 2,239 | 2,159 |
Revenue from contingent rents | 13,812 | 182 | 15,147 | 16,729 |
Total revenue | ₨ 1,311,917 | $ 17,292 | ₨ 868,630 | ₨ 835,446 |
Revenue - Detailed Informatio_2
Revenue - Detailed Information about Revenue (Parenthetical) (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Revenue [abstract] | ||||
Revenue | ₨ 1,311,005 | $ 17,280 | ₨ 855,444 | ₨ 818,952 |
Net mark-to-market gains (losses) | ₨ 12,900 | $ 170 | ₨ 1,961 | 12,995 |
Share of revenue of joint operations | ₨ 12,760 |
Investment and other income - D
Investment and other income - Detailed Information about Investment and Other Income (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | ||
Disclosure of detailed information about investment and other income [abstract] | |||||
Fair value gain on financial assets held for trading / fair value through profit or loss (FVTPL) | [1] | ₨ 2,087 | $ 28 | ₨ 9,340 | ₨ 5,574 |
Interest and dividend Income: | |||||
Interest income on financial assets held for trading/FVTPL | 3,925 | 52 | 4,779 | 10,169 | |
Interest income on bank deposits at amortized cost | 5,371 | 70 | 5,649 | 2,183 | |
Interest income on loans and receivables at amortized cost (Refer Note 35(b)) | 9,538 | 126 | 9,806 | 4,518 | |
Other interest income | 21 | 0 | 810 | 287 | |
Dividend income on available for sale investments held at FVOCI | 16 | 0 | 17 | 17 | |
Dividend income - financial assets held for trading/FVTPL | 2 | 0 | 13 | 477 | |
Bargain gain net of acquisition cost | 0 | 0 | 1,232 | 0 | |
Foreign exchange gain/ (loss) net | (1,013) | (13) | 531 | 2,489 | |
Investment and other income | ₨ 19,947 | $ 263 | ₨ 32,177 | ₨ 25,714 | |
[1]Income for the year ended March 31, 2020 includes mark to market loss of ₹ 3,624 million relating to structured investments purchased from Volcan Investments Limited (Refer Note 35(f)). |
Investment and other income -_2
Investment and other income - Detailed Information about Investment and Other Income (Parenthetical) (Detail) ₨ in Millions | 12 Months Ended |
Mar. 31, 2020 INR (₨) | |
Volcan Investments Limited [member] | |
Disclosure of transactions between related parties [line items] | |
Mark to market gain/(loss) | ₨ 3,624 |
Finance and other costs - Detai
Finance and other costs - Detailed Information about Finance and Other Costs (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | ||
Finance and other costs [abstract] | |||||
Interest expense on financial liabilities at amortised cost | [1] | ₨ 47,124 | $ 621 | ₨ 51,844 | ₨ 56,175 |
Unwinding of discount on provisions | 777 | 10 | 721 | 962 | |
Net foreign exchange loss/(gain) on borrowings and creditors for capital expenditure | 1,455 | 19 | (180) | 4,789 | |
Transaction costs paid to the ultimate parent company | 1,032 | ||||
Other finance costs | 2,985 | 39 | 2,502 | 2,588 | |
Net interest on defined benefit arrangements | 212 | 3 | 194 | 212 | |
Capitalisation of finance costs | [2] | (3,126) | (41) | (3,158) | (10,169) |
Finance and other costs | ₨ 49,427 | $ 651 | ₨ 52,955 | ₨ 54,557 | |
[1]Includes interest expense on lease liabilities for the year ended March 31, 2020, March 31, 2021 and March 31, 2022 of ₹ 247 million, ₹ 278 million and ₹ 136 million ($ 2 million)[2]Interest rate of 7.49%, 6.91% and 7.87% was used to determine the amount of general borrowing costs eligible for capitalization in respect of qualifying asset for the year ended March 31, 2020, March 31, 2021 and March 31, 2022 respectively. |
Finance and other costs - Det_2
Finance and other costs - Detailed Information about Finance and Other Costs (Parenthetical) (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Finance and other costs [abstract] | ||||
Capitalisation interest rate relating to general borrowings | 7.87% | 7.87% | 6.91% | 7.49% |
Interest expense on lease liabilities | ₨ 136 | $ 2 | ₨ 278 | ₨ 247 |
Income tax expense - Additional
Income tax expense - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2022 INR (₨) GW MW | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | Mar. 31, 2022 USD ($) GW MW | Sep. 21, 2020 MW | |
Disclosure Of Income Tax Expense [line items] | ||||||
Statutory income tax rate | 30% | 30% | ||||
Combined Statutory income tax rate | 34.94% | 34.94% | 34.94% | 34.94% | ||
Minimum alternative tax rate | 15% | 15% | 15% | 15% | ||
Combined minimum alternative tax rate | 17.47% | 17.47% | 17.47% | 17.47% | ||
Thermal power capacity | 100 | |||||
Maximum Tax Credit | 80% | 80% | ||||
Effect of tax holiday amount and similar exemptions | ₨ 19,559 | $ 258 | ₨ 7,710 | ₨ 4,934 | ||
Unused tax credits for which no deferred tax asset recognised | 98,197 | 101,541 | $ 1,294 | |||
Non-current tax assets | ₨ 27,625 | 27,481 | 364 | |||
Subsidiaries [member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Combined Statutory income tax rate | 25.17% | 25.17% | ||||
Previous Years Claims Under Section 80 A And 80 IC Of The Income Tax Act [Member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Contingent asset | ₨ 113,690 | 112,710 | 1,498 | |||
Pantnagar [member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Tax exemption rate | 30% | 30% | ||||
Group [member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Unremitted earnings | ₨ 369,475 | ₨ 322,395 | $ 4,870 | |||
The first five years from the commencement of the tax holiday [Member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Tax exemption rate | 100% | 100% | ||||
The first five years from the commencement of the tax holiday [Member] | Indian Operations in Special Economic Zone [member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Tax exemption rate | 100% | 100% | ||||
For the subsequent five years for location based exemption [Member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Tax exemption rate | 30% | 30% | ||||
For the subsequent five years for location based exemption [Member] | Indian Operations in Special Economic Zone [member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Tax exemption rate | 50% | 50% | ||||
For Further Five Years [Member] | Indian Operations in Special Economic Zone [member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Tax exemption rate | 50% | 50% | ||||
For any ten consecutive years within the 15 year period following commencement of the power plant's operation [Member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Thermal power capacity | GW | 8.25 | 8.25 | ||||
Wind power capacity | 274 | 274 | ||||
For any ten consecutive years within the 15 year period following commencement of the power plant's operation [Member] | Bottom of range [member] | ||||||
Disclosure Of Income Tax Expense [line items] | ||||||
Tax exemption rate | 100% | 100% |
Income tax expense - Summary of
Income tax expense - Summary of Major Components of Income Tax Expense (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Current tax: | ||||
Current tax on profit for the year | ₨ 63,119 | $ 832 | ₨ 20,671 | ₨ 17,911 |
Credit in respect of current tax for earlier years | (25) | 0 | (14) | (33) |
Total current tax (a) | 63,094 | 832 | 20,657 | 17,878 |
Deferred tax: | ||||
Reversal and origination of temporary differences | 40,807 | 538 | (1,546) | (44,562) |
Charge/(Credit) in respect of Deferred tax for earlier years | (833) | (11) | (27) | 7 |
Total Deferred Tax (b) | 39,974 | 527 | (1,573) | (44,555) |
Total income tax (credit)/expense for the year | 103,068 | 1,359 | 19,084 | (26,677) |
(Loss)/Profit before tax | ₨ 360,147 | $ 4,747 | ₨ 166,074 | ₨ (68,777) |
Effective income tax rate (%) | 28.60% | 28.60% | 11.50% | 38.80% |
Income tax expense - Detailed I
Income tax expense - Detailed Information about Reconciliation of Accounting Profit Loss Before Tax at Statutory Income Tax Rate (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | ||
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||||
(Loss)/Profit before tax | ₨ 360,147 | $ 4,747 | ₨ 166,074 | ₨ (68,777) | |
Indian statutory income tax rate | 34.94% | 34.94% | 34.94% | 34.94% | |
Tax at Indian statutory income tax rate | ₨ 125,850 | $ 1,659 | ₨ 58,034 | ₨ (24,033) | |
Non-taxable income | (1,366) | (18) | (1,227) | (1,406) | |
Tax holidays and similar exemptions (Refer Notes below) | (19,559) | (258) | (7,710) | (4,934) | |
Effect of tax rates differences of subsidiaries operating at other rates | 2,750 | 36 | (3,625) | (581) | |
Tax on distributable reserve of/ dividend from subsidiary | [1] | 8,690 | 19,532 | ||
Unrecognized tax assets (Net) | [2] | 98 | 1 | (31,932) | (713) |
Change in deferred tax balances due to change in tax law | [3] | (2,715) | (36) | (3,125) | (17,760) |
Capital gains/Other Income subject to lower tax rate | (3,435) | (45) | (1,756) | (2,733) | |
Credit in respect of earlier years | (858) | (11) | (41) | (26) | |
Other permanent differences | 2,303 | 31 | 1,776 | 5,977 | |
Total income tax (credit)/expense for the year | ₨ 103,068 | $ 1,359 | ₨ 19,084 | ₨ (26,677) | |
[1]Consequent to the declaration of dividend (including from accumulated profits) by the subsidiaries, the unabsorbed depreciation as per tax laws have been utilized by Vedanta Limited leading to a deferred tax charge of ₹ 19,532 million and ₹ 8,690 million for the year ended March 31, 2020 and March 31, 2021, respectively.[2]In June 2018, the Company acquired majority stake in ESL Steel Limited (“ESL”), which has since been focusing on operational turnaround. Based on management’s estimate of future outlook, financial projections and requirements of IAS 12 (Income taxes), ESL has recognized deferred tax assets of ₹ 31,823 million during the year ended March 31, 2021. During the year ended March 31, 2022, ESL derecognized deferred tax assets on losses expired in the current year amounting to ₹ 1,220 million ($ 16 million). Based on revised financial forecasts, management is confident of realising the remaining deferred tax assets fully.[3]Deferred tax charge for the year ended March 31, 2020 includes deferred tax credit of ₹ 16,512 million on remeasurement of deferred tax balance as at March 31, 2019. Also, refer Note 3(c)(I)(viii). |
Income tax expense - Detailed_2
Income tax expense - Detailed Information about Reconciliation of Accounting Profit Loss Before Tax at Statutory Income Tax Rate (Parenthetical) (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Reconciliation of accounting profit multiplied by applicable tax rates [Line Items] | ||||
Deferred tax credit | ₨ 16,512 | |||
Derecognized deferred tax assets on losses | ₨ 1,220 | $ 16 | ||
Deferred tax expense | ₨ 39,974 | $ 527 | ₨ (1,573) | (44,555) |
ESL Steel Limited [Member] | ||||
Reconciliation of accounting profit multiplied by applicable tax rates [Line Items] | ||||
Deferred tax assets Recognized | 31,823 | |||
Vedanta Limited [member] | ||||
Reconciliation of accounting profit multiplied by applicable tax rates [Line Items] | ||||
Deferred tax expense | ₨ 8,690 | ₨ 19,532 |
Income tax expense - Schedule o
Income tax expense - Schedule of Components of Deferred Tax Assets and Liabilities (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Opening balance | ₨ (52,064) | ₨ (52,994) | ₨ (8,676) | |
Charged/(credited) to statement of profit or loss | 39,974 | (1,573) | (44,555) | |
Charged/(credited) to Other comprehensive income | 266 | 458 | (730) | |
Charged to Equity | (55) | 319 | ||
Deferred tax on acquisition through business combination | 602 | |||
Exchange difference arising on translation of foreign operation | 330 | 1,124 | 967 | |
Total | (11,549) | $ (153) | (52,064) | (52,994) |
Property, plant and equipment, exploration and evaluation and other intangible assets | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Opening balance | 80,026 | 78,026 | 139,548 | |
Charged/(credited) to statement of profit or loss | 27,793 | (145) | (61,429) | |
Deferred tax on acquisition through business combination | 498 | |||
Exchange difference arising on translation of foreign operation | 924 | 1,647 | (93) | |
Total | 108,743 | 1,433 | 80,026 | 78,026 |
Voluntary retirement scheme [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Opening balance | (530) | (284) | (395) | |
Charged/(credited) to statement of profit or loss | 151 | (246) | 111 | |
Total | (379) | (5) | (530) | (284) |
Employee benefits [Member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Opening balance | (1,650) | (1,757) | (1,098) | |
Charged/(credited) to statement of profit or loss | (2,008) | (222) | 6 | |
Charged/(credited) to Other comprehensive income | (13) | 104 | (714) | |
Charged to Equity | 102 | 319 | ||
Exchange difference arising on translation of foreign operation | (114) | (94) | 49 | |
Total | (3,683) | (49) | (1,650) | (1,757) |
Fair value of derivative assets/ liabilities [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Opening balance | (265) | (102) | (357) | |
Charged/(credited) to statement of profit or loss | (207) | 93 | (69) | |
Charged/(credited) to Other comprehensive income | (387) | (256) | 324 | |
Total | (859) | (11) | (265) | (102) |
Fair valuation of other assets/liabilities [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Opening balance | 7,284 | 9,974 | 8,471 | |
Charged/(credited) to statement of profit or loss | (314) | (2,422) | 911 | |
Charged/(credited) to Other comprehensive income | 9 | (1) | ||
Exchange difference arising on translation of foreign operation | (418) | (277) | 593 | |
Total | 6,552 | 86 | 7,284 | 9,974 |
MAT credits entitlement [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Opening balance | (82,358) | (91,258) | (103,243) | |
Charged/(credited) to statement of profit or loss | 15,047 | 8,621 | 11,605 | |
Charged/(credited) to Other comprehensive income | (75) | 249 | 251 | |
Charged to Equity | (157) | |||
Exchange difference arising on translation of foreign operation | (42) | 30 | 129 | |
Total | (67,585) | (891) | (82,358) | (91,258) |
Unabsorbed depreciation/business loss [Member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Opening balance | (47,041) | (54,878) | (45,655) | |
Charged/(credited) to statement of profit or loss | 2,077 | 7,837 | (9,223) | |
Total | (44,964) | (593) | (47,041) | (54,878) |
Other temporary differences [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Opening balance | (7,530) | 7,285 | (5,947) | |
Charged/(credited) to statement of profit or loss | (2,565) | (15,089) | 13,533 | |
Charged/(credited) to Other comprehensive income | 741 | 352 | (590) | |
Deferred tax on acquisition through business combination | 104 | |||
Exchange difference arising on translation of foreign operation | (20) | (182) | 289 | |
Total | ₨ (9,374) | $ (123) | ₨ (7,530) | ₨ 7,285 |
Income tax expense - Net deferr
Income tax expense - Net deferred tax (assets)/liability (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | Mar. 31, 2019 INR (₨) |
Deferred tax assets and liabilities [abstract] | |||||
Deferred tax assets | ₨ (64,537) | $ (851) | ₨ (73,958) | ||
Deferred tax liabilities | 52,988 | 698 | 21,894 | ||
Net deferred tax (asset)/ liability | ₨ (11,549) | $ (153) | ₨ (52,064) | ₨ (52,994) | ₨ (8,676) |
Income tax expense - Net defe_2
Income tax expense - Net deferred tax (assets)/liability (Parenthetical) (Detail) - Unused tax credits [member] ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Statement [line items] | |||
Minimum alternate tax credit entitled to be carried forward | ₨ 67,585 | $ 891 | ₨ 82,358 |
Upto the fourteenth and fifteenth year [member] | |||
Statement [line items] | |||
Minimum alternate tax credit entitled to be carried forward | ₨ 2,080 | $ 28 | ₨ 3,400 |
Income Tax Expense - Summary _2
Income Tax Expense - Summary of Unused Tax Losses (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | ₨ 98,197 | $ 1,294 | ₨ 101,541 |
Unutilized business losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 83,696 | 1,103 | 73,809 |
Unabsorbed Depreciation [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 14,398 | 190 | 27,631 |
Unused capital losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 4 | 0 | 4 |
Unutilised R&D tax credit [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 99 | $ 1 | 97 |
Not later than one year [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 311 | 2,071 | |
Not later than one year [member] | Unutilized business losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 311 | 1,966 | |
Not later than one year [member] | Unabsorbed Depreciation [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 105 | ||
Later than one year and not later than five years [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 32,174 | 23,238 | |
Later than one year and not later than five years [member] | Unutilized business losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 32,170 | 22,220 | |
Later than one year and not later than five years [member] | Unabsorbed Depreciation [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 0 | 1,014 | |
Later than one year and not later than five years [member] | Unused capital losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 4 | 4 | |
Later than five years [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 31,163 | 33,732 | |
Later than five years [member] | Unutilized business losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 31,163 | 30,753 | |
Later than five years [member] | Unabsorbed Depreciation [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 0 | 2,979 | |
No Expiry [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 34,549 | 42,500 | |
No Expiry [member] | Unutilized business losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 20,052 | 18,870 | |
No Expiry [member] | Unabsorbed Depreciation [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | 14,398 | 23,533 | |
No Expiry [member] | Unutilised R&D tax credit [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Unused tax credits for which no deferred tax asset recognised | ₨ 99 | ₨ 97 |
Summary of Consolidated Stateme
Summary of Consolidated Statement of Profit Loss Nature of Expense (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | ||
Operating expenses from mining business [abstract] | |||||
Revenue | ₨ 1,311,917 | $ 17,292 | ₨ 868,630 | ₨ 835,446 | |
Other operating income | [1] | 17,981 | 237 | 13,094 | 9,863 |
Investment and other income | 19,947 | 263 | 32,177 | 25,714 | |
Total Income | 1,349,845 | 17,792 | 913,901 | 871,023 | |
(Decrease)/increase in inventories of finished goods and work-in-progress | 20,340 | 268 | (7,662) | (13,690) | |
Raw materials and other consumables used | [2] | (801,046) | (10,559) | (524,019) | (549,936) |
Employee costs | (28,119) | (371) | (28,632) | (26,920) | |
Other costs | [3] | (76,161) | (1,004) | (50,941) | (46,185) |
Depreciation and amortisation | (91,148) | (1,201) | (81,178) | (100,490) | |
Impairment reversal/(charge) | 62,745 | 827 | 0 | (148,022) | |
Exploration Cost written off | (26,181) | (345) | 0 | 0 | |
Asset under construction written off | (701) | (9) | (2,440) | 0 | |
Finance and other costs | (49,427) | (651) | (52,955) | (54,557) | |
(Loss)/Profit before tax | 360,147 | 4,747 | 166,074 | (68,777) | |
Income tax credit/(expense) | (103,068) | (1,359) | (19,084) | 26,677 | |
(Loss)/profit for the year | ₨ 257,079 | $ 3,388 | ₨ 146,990 | ₨ (42,100) | |
[1]includes export incentive and duty drawback amounting to ₹ 4,327 million and ₹ 3,162 million and ₹ 5,182 million ($ 68 million) for the years ended March 31, 2020, March 31, 2021 and March 31, 2022, respectively.[2]includes power and fuel charges, repairs, royalty, cess, mining and other operating expenses.[3]includes rent amounting to ₹ 415 million, ₹ 474 million and ₹ 380 million for the years ended March 31, 2020, March 31, 2021 and March 31, 2022, respectively representing expense on short term/ low value leases. |
Summary of Consolidated State_2
Summary of Consolidated Statement of Profit Loss Nature of Expense (Parenthetical) (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Operating expenses from mining business [abstract] | ||||
Export incentive and duty drawback | ₨ 5,182 | $ 68 | ₨ 3,162 | ₨ 4,327 |
Short term lease rental expenses | ₨ 380 | ₨ 474 | ₨ 415 |
Exchange gain_ (loss) recogni_3
Exchange gain/ (loss) recognised in the consolidated statements of profit or loss: - Summary of exchange gain/(loss) recognised (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | ||
Disclosure Of Finance Expense and Income [line items] | |||||
Cost of sales | [1] | ₨ 855,880 | $ 11,281 | ₨ 635,225 | ₨ 829,461 |
Administration cost (Forex on MAT credit entitlements) | 50,204 | 662 | 39,463 | 37,577 | |
Investment and other income/(loss) | 19,947 | 263 | 32,177 | 25,714 | |
Finance and other costs | 49,427 | 651 | 52,955 | 54,557 | |
(Loss)/Profit before tax | 360,147 | 4,747 | 166,074 | (68,777) | |
Exchange gain (loss) [member] | |||||
Disclosure Of Finance Expense and Income [line items] | |||||
Cost of sales | 799 | 11 | (1,937) | (4,268) | |
Administration cost (Forex on MAT credit entitlements) | (339) | (4) | 166 | (1,136) | |
Investment and other income/(loss) | (1,013) | (13) | 531 | 2,489 | |
Finance and other costs | (1,455) | (19) | 180 | (4,789) | |
(Loss)/Profit before tax | ₨ (2,008) | $ (25) | ₨ (1,060) | ₨ (7,704) | |
[1]Cost of sales for the year ended (i) March 31, 2020 includes net impairment charge of ₹ 146,821 million; (ii) March 31, 2021 includes an asset under construction written off of ₹ 2,440 million; and (iii) March 31, 2022 includes an asset under construction written off of ₹ 701 million ($ 9 million), impairment reversal of ₹ 62,745 million ($ 827 million) and exploration cost written off of ₹ 26,181 million ($ 345 million) (Refer Note 14). |
Earnings_(Loss) per Share ("E_3
Earnings/(Loss) per Share ("EPS") - Computation of Weighted Average Number of Shares (Detail) - shares | 12 Months Ended | ||||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |||
Earnings per share [abstract] | |||||
Weighted average number of ordinary shares for basic earnings per share | [1] | 3,706,455,160 | 3,704,196,924 | 3,702,554,614 | |
Effect of dilution | |||||
Potential ordinary shares relating to share option awards | 25,693,575 | 23,348,057 | 21,220,860 | [2] | |
Adjusted weighted average number of ordinary shares for diluted earnings per share | [1] | 3,732,148,735 | 3,727,544,981 | 3,702,554,614 | [2] |
[1]After excluding the impact of treasury shares[2]Potential dilutive shares have been considered as anti dilutive for year ended March 31, 2020. |
Earnings_(Loss) per Share ("E_4
Earnings/(Loss) per Share ("EPS") - Computation of Basic and Diluted Earnings per Share (Detail) ₨ / shares in Units, $ / shares in Units, ₨ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2022 INR (₨) ₨ / shares shares | Mar. 31, 2022 USD ($) $ / shares shares | Mar. 31, 2021 INR (₨) ₨ / shares shares | Mar. 31, 2020 INR (₨) ₨ / shares shares | |||
Basic earnings/(loss) per share: | ||||||
Profit/(Loss) for the year attributable to equity holders of the parent | ₨ 207,953 | $ 2,740 | ₨ 112,883 | ₨ (61,248) | ||
Weighted average number of ordinary shares for basic earnings per share | [1] | 3,706,455,160 | 3,706,455,160 | 3,704,196,924 | 3,702,554,614 | |
(Loss)/Earnings per share(INR / USD) | (per share) | ₨ 56.11 | $ 0.74 | ₨ 30.47 | ₨ (16.54) | ||
Diluted earnings/(loss) per share: | ||||||
(Loss)/Profit for the year attributable to equity holders of the parent | ₨ 207,953 | $ 2,740 | ₨ 112,883 | ₨ (61,248) | ||
Adjusted weighted average number of ordinary shares for diluted earnings per share | [1] | 3,732,148,735 | 3,732,148,735 | 3,727,544,981 | 3,702,554,614 | [2] |
(Loss)/Earnings per share(INR / USD) | (per share) | ₨ 55.72 | $ 0.73 | ₨ 30.28 | ₨ (16.54) | ||
[1]After excluding the impact of treasury shares[2]Potential dilutive shares have been considered as anti dilutive for year ended March 31, 2020. |
Earnings_(Loss) per Share ("E_5
Earnings/(Loss) per Share ("EPS") - Additional Information (Detail) - ₨ / shares | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Earnings per share [abstract] | |||
Nominal value per share | ₨ 1 | ₨ 1 | ₨ 1 |
Dividends - Summary of Dividend
Dividends - Summary of Dividends paid and Proposed (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | ||
Dividends Paid [abstract] | |||||
Interim dividend for the year: (March 31, 2020: ₹ 3.90/- per share, March 31, 2021: ₹ 9.50/- per share, March 31, 2022: ₹ 13.50/-, ₹ 18.50/- and 13/- per share) | [1],[2],[3] | ₨ 166,814 | $ 2,199 | ₨ 35,187 | ₨ 14,441 |
Total | ₨ 166,814 | $ 2,199 | ₨ 35,187 | ₨ 14,441 | |
[1]An interim dividend of ₹ 3.90/- per share was declared during the year ended March 31, 2020. The right to interim dividend of ₹ 3.90/- per share was waived by ESOS Trust.[2]An interim dividend of ₹ 9.50/- per share was declared during the year ended March 31, 2021.[3]Three interim dividends of ₹ 13.50/-, ₹ 18.50/- and ₹ 13/- per share were declared during the year ended March 31, 2022. |
Dividends - Summary of Divide_2
Dividends - Summary of Dividends paid and Proposed (Parenthetical) (Detail) - INR (₨) ₨ / shares in Units, ₨ in Millions | 12 Months Ended | ||||
Jul. 19, 2022 | Apr. 28, 2022 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of Dividends [line items] | |||||
Dividends paid | ₨ 193,496 | ₨ 91,216 | ₨ 14,441 | ||
Face value of treasury shares | ₨ 1 | ₨ 1 | ₨ 1 | ||
Events After Reporting Period [Member] | |||||
Disclosure of Dividends [line items] | |||||
Dividend per share | ₨ 31.5 | ||||
Dividends paid | ₨ 116,838 | ||||
Face value of treasury shares | ₨ 1 | ||||
Percenatge Of Dividend Paid On Face Value | 3,150% | ||||
Dividend one [member] | |||||
Disclosure of Dividends [line items] | |||||
Dividend per share | 13.5 | 9.5 | 3.9 | ||
Dividend two [member] | |||||
Disclosure of Dividends [line items] | |||||
Dividend per share | 18.5 | ||||
Dividend Three [Member] | |||||
Disclosure of Dividends [line items] | |||||
Dividend per share | 13 | ||||
Second interim dividend [member] | Events After Reporting Period [Member] | |||||
Disclosure of Dividends [line items] | |||||
Dividend per share | ₨ 19.5 | ||||
Face value of treasury shares | ₨ 1 | ||||
Percenatge Of Dividend Paid On Face Value | 1,950% | ||||
Employee Stock Option Plan [member] | Dividend one [member] | |||||
Disclosure of Dividends [line items] | |||||
Dividend per share | 13.5 | ₨ 9.5 | ₨ 3.9 | ||
Employee Stock Option Plan [member] | Dividend two [member] | |||||
Disclosure of Dividends [line items] | |||||
Dividend per share | 18.5 | ||||
Employee Stock Option Plan [member] | Dividend Three [Member] | |||||
Disclosure of Dividends [line items] | |||||
Dividend per share | ₨ 13 |
Property, plant and equipment_3
Property, plant and equipment and Exploration and evaluation assets - Disclosure of Property Plant and Equipment (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | ₨ 946,181 | |||
Asset under construction written off C | 701 | $ 9 | ₨ 2,440 | ₨ 0 |
Assets under construction/capital advances written off (Refer Note 14) | 1,951 | 26 | 2,440 | |
Ending balance | 1,016,551 | 13,399 | 946,181 | |
Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 3,028,590 | 39,918 | 2,984,890 | |
Additions | 120,306 | 1,586 | 65,197 | |
Transfers/Reclassifications | (113) | (1) | (28) | |
Disposals/Adjustments | (17,119) | (227) | (9,216) | |
Acquisition through business combination | 3,543 | |||
Exploration costs written off | (26,181) | (345) | (70) | |
Foreign exchange | 53,609 | 707 | (15,726) | |
Ending balance | 3,159,092 | 41,638 | 3,028,590 | 2,984,890 |
Gross carrying amount [member] | Exploration and evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 140,469 | 136,066 | ||
Additions | 9,641 | 7,003 | ||
Transfers/Reclassifications | (1,559) | 81 | ||
Exploration costs written off | (26,181) | (70) | ||
Foreign exchange | 3,807 | (2,611) | ||
Ending balance | 126,177 | 140,469 | 136,066 | |
Gross carrying amount [member] | Right-of-use assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 17,576 | 14,150 | ||
Additions | 1,155 | 1,082 | ||
Transfers/Reclassifications | (6,963) | 2,529 | ||
Disposals/Adjustments | (433) | (25) | ||
Foreign exchange | 63 | (160) | ||
Ending balance | 11,398 | 17,576 | 14,150 | |
Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 2,057,867 | 27,124 | 2,000,097 | |
Charge for the year | 90,724 | 1,195 | 81,232 | |
Transfers/Reclassifications | (11) | 0 | (3) | |
Disposals/Adjustments | (9,599) | (127) | (4,754) | |
Impairment Charge/ (reversal) | (62,745) | (827) | ||
Asset under construction written off C | 2,440 | |||
Assets under construction/capital advances written off (Refer Note 14) | 1,951 | 26 | ||
Foreign exchange | 47,712 | 629 | (21,145) | |
Ending balance | 2,125,899 | 28,020 | 2,057,867 | 2,000,097 |
Accumulated depreciation, amortisation and impairment [member] | Exploration and evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 115,927 | 118,144 | ||
Impairment Charge/ (reversal) | (9,602) | |||
Foreign exchange | 3,210 | (2,217) | ||
Ending balance | 109,535 | 115,927 | 118,144 | |
Accumulated depreciation, amortisation and impairment [member] | Right-of-use assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 2,452 | 1,056 | ||
Charge for the year | 612 | 1,413 | ||
Transfers/Reclassifications | (892) | (2) | ||
Disposals/Adjustments | (430) | |||
Foreign exchange | (2) | (15) | ||
Ending balance | 1,740 | 2,452 | 1,056 | |
Net book value of property plant and equipment after Exploration & Evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 970,723 | 984,793 | ||
Ending balance | 1,033,193 | $ 13,618 | 970,723 | 984,793 |
Net book value of property plant and equipment after Exploration & Evaluation assets [member] | Exploration and evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 24,542 | 17,922 | ||
Ending balance | 16,642 | 24,542 | 17,922 | |
Net book value of property plant and equipment after Exploration & Evaluation assets [member] | Right-of-use assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 15,124 | 13,094 | ||
Ending balance | 9,658 | 15,124 | 13,094 | |
Mining properties [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 260,404 | 233,353 | ||
Additions | 11,765 | 13,011 | ||
Transfers/Reclassifications | 20,574 | 4,569 | ||
Disposals/Adjustments | (330) | (47) | ||
Acquisition through business combination | 2,202 | |||
Foreign exchange | 2,663 | 7,316 | ||
Ending balance | 295,076 | 260,404 | 233,353 | |
Mining properties [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 186,602 | 166,478 | ||
Charge for the year | 21,104 | 16,745 | ||
Transfers/Reclassifications | (2) | 3 | ||
Foreign exchange | 1,195 | 3,376 | ||
Ending balance | 208,899 | 186,602 | 166,478 | |
Mining properties [member] | Net book value of property plant and equipment after Exploration & Evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 73,802 | 66,875 | ||
Ending balance | 86,177 | 73,802 | 66,875 | |
Land and buildings [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 141,305 | 139,044 | ||
Additions | 2,046 | 1,601 | ||
Transfers/Reclassifications | 876 | (1,485) | ||
Disposals/Adjustments | (933) | (327) | ||
Acquisition through business combination | 1,321 | |||
Foreign exchange | 80 | 1,151 | ||
Ending balance | 143,374 | 141,305 | 139,044 | |
Land and buildings [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 40,585 | 34,869 | ||
Charge for the year | 4,529 | 5,197 | ||
Transfers/Reclassifications | 4 | |||
Disposals/Adjustments | (294) | (236) | ||
Foreign exchange | 54 | 755 | ||
Ending balance | 44,878 | 40,585 | 34,869 | |
Land and buildings [member] | Net book value of property plant and equipment after Exploration & Evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 100,720 | 104,175 | ||
Ending balance | 98,496 | 100,720 | 104,175 | |
Plant and equipment [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 907,992 | 864,247 | ||
Additions | 12,754 | 15,121 | ||
Transfers/Reclassifications | 29,524 | 27,130 | ||
Disposals/Adjustments | (12,191) | (5,438) | ||
Foreign exchange | 1,862 | 6,932 | ||
Ending balance | 939,941 | 907,992 | 864,247 | |
Plant and equipment [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 328,092 | 291,880 | ||
Charge for the year | 39,942 | 35,627 | ||
Transfers/Reclassifications | 559 | 352 | ||
Disposals/Adjustments | (8,610) | (4,144) | ||
Foreign exchange | 1,434 | 4,377 | ||
Ending balance | 361,417 | 328,092 | 291,880 | |
Plant and equipment [member] | Net book value of property plant and equipment after Exploration & Evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 579,900 | 572,367 | ||
Ending balance | 578,524 | 579,900 | 572,367 | |
Oil and Gas Properties[member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 1,428,532 | 1,449,286 | ||
Additions | 8,373 | 8,813 | ||
Transfers/Reclassifications | 6,915 | (81) | ||
Disposals/Adjustments | (116) | (69) | ||
Foreign exchange | 44,863 | (29,417) | ||
Ending balance | 1,488,567 | 1,428,532 | 1,449,286 | |
Oil and Gas Properties[member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 1,349,567 | 1,356,795 | ||
Charge for the year | 22,887 | 20,516 | ||
Transfers/Reclassifications | 892 | |||
Disposals/Adjustments | (116) | (69) | ||
Impairment Charge/ (reversal) | (53,143) | |||
Foreign exchange | 41,720 | (27,675) | ||
Ending balance | 1,361,807 | 1,349,567 | 1,356,795 | |
Oil and Gas Properties[member] | Net book value of property plant and equipment after Exploration & Evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 78,965 | 92,491 | ||
Ending balance | 126,760 | 78,965 | 92,491 | |
Others [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 16,864 | 15,733 | ||
Additions | 1,263 | 1,318 | ||
Transfers/Reclassifications | 116 | (137) | ||
Disposals/Adjustments | (210) | (391) | ||
Foreign exchange | 76 | 341 | ||
Ending balance | 18,109 | 16,864 | 15,733 | |
Others [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 10,561 | 8,949 | ||
Charge for the year | 1,650 | 1,734 | ||
Transfers/Reclassifications | (2) | (71) | ||
Disposals/Adjustments | (149) | (305) | ||
Foreign exchange | 101 | 254 | ||
Ending balance | 12,161 | 10,561 | 8,949 | |
Others [member] | Net book value of property plant and equipment after Exploration & Evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 6,303 | 6,784 | ||
Ending balance | 5,948 | 6,303 | 6,784 | |
Asset under Construction [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 115,448 | 133,011 | ||
Additions | 73,309 | 17,248 | ||
Transfers/Reclassifications | (49,596) | (32,634) | ||
Disposals/Adjustments | (2,906) | (2,919) | ||
Acquisition through business combination | 20 | |||
Foreign exchange | 195 | 722 | ||
Ending balance | 136,450 | 115,448 | 133,011 | |
Asset under Construction [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 24,081 | 21,926 | ||
Transfers/Reclassifications | (570) | (285) | ||
Impairment Charge/ (reversal) | 0 | |||
Asset under construction written off C | 2,440 | |||
Assets under construction/capital advances written off (Refer Note 14) | 1,951 | |||
Ending balance | 25,462 | 24,081 | 21,926 | |
Asset under Construction [member] | Net book value of property plant and equipment after Exploration & Evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 91,367 | 111,085 | ||
Ending balance | 110,988 | 91,367 | 111,085 | |
Property Plant and Equipment Gross [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 2,888,121 | 2,848,824 | ||
Additions | 110,665 | 58,194 | ||
Transfers/Reclassifications | 1,446 | (109) | ||
Disposals/Adjustments | (17,119) | (9,216) | ||
Acquisition through business combination | 3,543 | |||
Foreign exchange | 49,802 | (13,115) | ||
Ending balance | 3,032,915 | 2,888,121 | 2,848,824 | |
Property Plant and Equipment Gross [member] | Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 1,941,940 | 1,881,953 | ||
Charge for the year | 90,724 | 81,232 | ||
Transfers/Reclassifications | (11) | (3) | ||
Disposals/Adjustments | (9,599) | (4,754) | ||
Impairment Charge/ (reversal) | (53,143) | |||
Asset under construction written off C | 2,440 | |||
Assets under construction/capital advances written off (Refer Note 14) | 1,951 | |||
Foreign exchange | 44,502 | (18,928) | ||
Ending balance | 2,016,364 | 1,941,940 | 1,881,953 | |
Property Plant and Equipment Gross [member] | Net book value of property plant and equipment after Exploration & Evaluation assets [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 946,181 | 966,871 | ||
Ending balance | ₨ 1,016,551 | ₨ 946,181 | ₨ 966,871 |
Property, plant and equipment_4
Property, plant and equipment and Exploration and evaluation assets - Disclosure of Property Plant and Equipment (Parenthetical) (Detail) - INR (₨) ₨ in Millions | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Oil and gas block [member] | Assets Under Construction [member] | KG-ONN-2003/1 [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment charge | ₨ 2,440 | |
Oil and gas segment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment charge | ₨ 135,031 |
Property, plant and equipment_5
Property, plant and equipment and Exploration and evaluation assets - Disclosure of Right of Use (ROU) Assets as per IFRS 16 "Leases" (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | ||||
Gross carrying amount [member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Beginning balance | ₨ 17,576 | $ 232 | ₨ 14,150 | |||
Additions | 1,155 | 15 | 1,082 | |||
Transfers/ Reclassification | [1] | (6,963) | (92) | 2,529 | ||
Deductions | (433) | (6) | (25) | |||
Foreign exchange | 63 | 1 | (160) | |||
Ending balance | 11,398 | 150 | 17,576 | |||
Gross carrying amount [member] | Land and buildings [member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Beginning balance | 10,203 | 6,811 | ||||
Additions | 968 | 922 | ||||
Transfers/ Reclassification | [1] | (48) | 2,533 | |||
Deductions | (432) | (16) | ||||
Foreign exchange | (56) | (47) | ||||
Ending balance | 10,635 | 10,203 | ||||
Gross carrying amount [member] | Plant and equipment [member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Beginning balance | 7,373 | 7,339 | ||||
Additions | 187 | 160 | ||||
Transfers/ Reclassification | [1] | (6,915) | (4) | |||
Deductions | (1) | (9) | ||||
Foreign exchange | 119 | (113) | ||||
Ending balance | 763 | 7,373 | ||||
Accumulated depreciation, amortisation and impairment [member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Beginning balance | 2,452 | 32 | 1,056 | |||
Transfers/ Reclassification | (892) | [1] | (12) | [1] | (2) | |
Charge for the year | 612 | 8 | 1,413 | |||
Disposals/Adjustments | (430) | (6) | 0 | |||
Foreign exchange | (2) | 0 | (15) | |||
Ending balance | 1,740 | 22 | 2,452 | |||
Accumulated depreciation, amortisation and impairment [member] | Land and buildings [member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Beginning balance | 1,443 | 833 | ||||
Charge for the year | 523 | 622 | ||||
Disposals/Adjustments | (430) | 0 | ||||
Foreign exchange | (21) | (12) | ||||
Ending balance | 1,515 | 1,443 | ||||
Accumulated depreciation, amortisation and impairment [member] | Plant and equipment [member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Beginning balance | 1,009 | 223 | ||||
Transfers/ Reclassification | (892) | [1] | (2) | |||
Charge for the year | 89 | 791 | ||||
Disposals/Adjustments | 0 | |||||
Foreign exchange | 19 | (3) | ||||
Ending balance | 225 | 1,009 | ||||
Carrying amounts [member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Beginning balance | 15,124 | 13,094 | ||||
Ending balance | 9,658 | $ 128 | 15,124 | |||
Carrying amounts [member] | Land and buildings [member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Beginning balance | 8,760 | 5,978 | ||||
Ending balance | 9,120 | 8,760 | ||||
Carrying amounts [member] | Plant and equipment [member] | ||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||
Beginning balance | 6,364 | 7,116 | ||||
Ending balance | ₨ 538 | ₨ 6,364 | ||||
[1]During the current year, Company has bought back its ROU RDG Gas Bridge assets in Oil & Gas business which are consequently reclassified to Oil & Gas properties as per the contractual terms. |
Property, plant and equipment_6
Property, plant and equipment and Exploration and evaluation assets - Schedule of reconciliation of depreciation, depletion and amortization expense (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Depreciation, depletion and amortisation expense on | ||||
Property, plant and equipment and intangibles | ₨ 91,148 | $ 1,201 | ₨ 81,178 | ₨ 100,490 |
Less: Depreciation capitalized | (39) | (1) | (498) | |
Less: Cost allocated to joint ventures | (240) | (3) | (238) | (586) |
Charged to consolidated statement of profit or loss | 91,148 | 1,201 | 81,178 | 100,490 |
Property, plant and equipment [member] | ||||
Depreciation, depletion and amortisation expense on | ||||
Property, plant and equipment and intangibles | 90,724 | 1,196 | 81,232 | 100,255 |
Intangible assets [member] | ||||
Depreciation, depletion and amortisation expense on | ||||
Property, plant and equipment and intangibles | 703 | 9 | 682 | 821 |
Property Plant And Equipment And Intangibles [Member] | ||||
Depreciation, depletion and amortisation expense on | ||||
Property, plant and equipment and intangibles | ₨ 91,427 | $ 1,205 | ₨ 81,914 | ₨ 101,076 |
Property, plant and equipment_7
Property, plant and equipment and Exploration and Evaluation Assets - Additional Information (Detail) ₨ in Millions | 12 Months Ended | |||||||
Feb. 25, 2010 a | Mar. 31, 2022 INR (₨) bbl a | Mar. 31, 2022 USD ($) bbl a | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) bbl | Mar. 31, 2020 USD ($) bbl | Mar. 31, 2022 USD ($) | Mar. 31, 2021 USD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Change in crude oil per barrel | $ | $ 1 | $ 1 | ||||||
Change in discount rate | 1% | 1% | 1% | 1% | ||||
Impairment reversal | ₨ (26,181) | $ (345,000,000) | ₨ (146,821) | |||||
Property plant and equipment | 1,016,551 | ₨ 946,181 | $ 13,399,000,000 | |||||
Recoverable value of other assets and liabilities of ASI | 15,360 | |||||||
Property, plant and equipment, interest capitalized | 3,126 | 3,158 | 10,169 | 41,000,000 | ||||
Share of jointly owned assets with JV partners, property, plant and equipment and exploration and evaluation assets net block | 129,253 | 98,412 | 1,704,000,000 | |||||
Property Plant And Equipment Written Off | 701 | 9,000,000 | 2,440 | 0 | ||||
Capital work-in-progress recognised loss | 242 | 3,000,000 | ||||||
Volume of production [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Change in recoverable value | 170 | |||||||
Discount rate, measurement input [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Change in recoverable value | 480 | |||||||
AvanStrate Inc. [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment charge | 5,098 | |||||||
Talwandi Sabo Power Limited TSPL [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Land | 3,908 | 3,942 | 52,000,000 | |||||
Buildings | 1,646 | 1,781 | 22,000,000 | |||||
Machinery | 80,514 | 84,505 | 1,061,000,000 | |||||
PSC block RJON-90/1 block and RSC blocks [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment charge | ₨ 26,181 | $ 345,000,000 | ||||||
Rajasthan [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Recoverable amount | 105,109 | |||||||
Impairment charge | ₨ 127,164 | |||||||
Bidhan bagh unit [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Number of quarters | a | 40 | 40 | ||||||
Oil and gas block [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Short term price of oil | bbl | 86 | 86 | 38 | 38 | ||||
Long term price of oil | bbl | 68 | 68 | 57 | 57 | ||||
Percentage increase in price | 2% | 2% | 2% | 2% | ||||
Post-tax nominal discount rate | 9.88% | 9.88% | 10.35% | 10.35% | ||||
Recoverable amount | ₨ 103,259 | $ 1,361,000,000 | ||||||
Impairment reversal | 61,598 | 812,000,000 | ||||||
Oil and gas block [member] | Crude price assumptions by $ 1/bb [member] | Rajasthan Oil and Gas cash generating unit [Member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Change in recoverable value | 2,042 | 27,000,000 | ₨ 3,370 | |||||
Oil and gas block [member] | Discount rate by 1% [member] | Rajasthan Oil and Gas cash generating unit [Member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Change in recoverable value | ₨ 3,111 | $ 41,000,000 | 4,940 | |||||
Oil and gas block [member] | KG ONN 2003/1 | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Short term price of oil | bbl | 86 | 86 | ||||||
Long term price of oil | bbl | 68 | 68 | ||||||
Percentage increase in price | 2% | 2% | ||||||
Post-tax nominal discount rate | 10.63% | 10.63% | 11.10% | 11.10% | ||||
Recoverable amount | ₨ 1,022 | $ 13,000,000 | ||||||
Recoverable amount | 2,048 | ₨ 1,496 | 27,000,000 | |||||
Impairment charge | 2,551 | |||||||
Oil and gas segment [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment charge | 135,031 | |||||||
Oil and gas segment [member] | Rajasthan Oil and Gas cash generating unit [Member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment reversal | 52,121 | 687,000,000 | ||||||
Gross carrying amount [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Property plant and equipment | 3,159,092 | 3,028,590 | 2,984,890 | 41,638,000,000 | $ 39,918,000,000 | |||
Exploration and evaluation assets [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment charge | 10,416 | |||||||
Exploration and evaluation assets [member] | Gross carrying amount [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Property plant and equipment | 126,177 | 140,469 | 136,066 | |||||
Exploration and evaluation assets in RJ CGU [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment reversal | 9,477 | 125,000,000 | ||||||
Oil and Gas Properties[member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment charge | 116,748 | |||||||
Oil and Gas Properties[member] | Gross carrying amount [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Property plant and equipment | 1,488,567 | 1,428,532 | 1,449,286 | |||||
Development Assets Under Construction [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Property plant and equipment | 31,978 | 41,324 | 421,000,000 | |||||
Exploration cost in KG-OSN-2009/3 [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment charge | 5,316 | |||||||
Land and buildings [member] | Gross carrying amount [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Property plant and equipment | 143,374 | 141,305 | ₨ 139,044 | |||||
Freehold Land | 3,200 | 2,884 | 42,000,000 | |||||
Land and buildings [member] | Accumulated impairment [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Freehold Land | 2,731 | 2,545 | 36,000,000 | |||||
Land [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Property Plant And Equipment Written Off | 57 | 1,000,000 | ||||||
ESL Steel Limited [Member] | Gross carrying amount [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Property plant and equipment | 8,107 | |||||||
Impairment loss | 459 | 6,000,000 | 629 | |||||
Aluminium Product [Member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment loss | 62,745 | $ 827,000,000 | ||||||
Deposits | ₨ 1,250 | $ 17,000,000 | ||||||
Aluminum Product [Member] | Assets Under Construction [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Impairment loss | ₨ 1,811 | |||||||
Bharat aluminum company limited [member] | ||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||
Area of land | a | 1,804.67 |
Intangible Assets (Detail)
Intangible Assets (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | ₨ 7,481 | ₨ 7,790 | |
Ending Balance | 6,966 | $ 92 | 7,481 |
Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 13,453 | 178 | 13,209 |
Additions | 163 | 2 | 415 |
Transfers from Property, Plant and Equipment | 113 | 1 | 28 |
Disposals/Adjustments | (2) | 0 | (64) |
Foreign exchange difference | (79) | (1) | (135) |
Ending Balance | 13,648 | 180 | 13,453 |
Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 5,972 | 79 | 5,419 |
Charge for the year | 703 | 9 | 682 |
Transfers from Property, Plant and Equipment | 11 | 0 | 3 |
Disposals/Adjustments | (2) | 0 | (64) |
Foreign exchange difference | (2) | 0 | (68) |
Ending Balance | 6,682 | $ 88 | 5,972 |
Port concession rights [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 4,220 | 4,435 | |
Ending Balance | 3,997 | 4,220 | |
Port concession rights [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 6,028 | 6,013 | |
Additions | 6 | 15 | |
Transfers from Property, Plant and Equipment | 1 | ||
Ending Balance | 6,035 | 6,028 | |
Port concession rights [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 1,808 | 1,578 | |
Charge for the year | 230 | 230 | |
Foreign exchange difference | 0 | ||
Ending Balance | 2,038 | 1,808 | |
Software licenses [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 442 | 483 | |
Ending Balance | 533 | 442 | |
Software licenses [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 3,593 | 3,579 | |
Additions | 157 | 78 | |
Transfers from Property, Plant and Equipment | 112 | 28 | |
Disposals/Adjustments | (2) | (64) | |
Foreign exchange difference | 70 | (28) | |
Ending Balance | 3,930 | 3,593 | |
Software licenses [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 3,151 | 3,096 | |
Charge for the year | 175 | 147 | |
Transfers from Property, Plant and Equipment | 11 | 3 | |
Disposals/Adjustments | (2) | (64) | |
Foreign exchange difference | 62 | (31) | |
Ending Balance | 3,397 | 3,151 | |
Other intangible assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 2,819 | 2,872 | |
Ending Balance | 2,436 | 2,819 | |
Other intangible assets [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 3,832 | 3,617 | |
Additions | 322 | ||
Foreign exchange difference | (149) | (107) | |
Ending Balance | 3,683 | 3,832 | |
Other intangible assets [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning Balance | 1,013 | 745 | |
Charge for the year | 298 | 305 | |
Foreign exchange difference | (64) | (37) | |
Ending Balance | ₨ 1,247 | ₨ 1,013 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - Other intangible assets [member] - Vizag General Cargo Berth Private Limited [member] | 12 Months Ended |
Mar. 31, 2022 MillionTonnesPerAnnum | |
Disclosure of detailed information about intangible assets [line items] | |
Concession period | 30 years |
Berth capacity | 10.18 |
Percentage of gross revenue as royalty | 38.10% |
Financial Asset Investments - S
Financial Asset Investments - Summary of Financial Asset Investments (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
Disclosure of financial assets [abstract] | |||
Beginning balance | ₨ 1,532 | $ 20 | ₨ 911 |
Changes in fair value | (47) | (1) | 621 |
Exchange difference | (13) | 0 | 0 |
Ending balance | ₨ 1,472 | $ 19 | ₨ 1,532 |
Trade and other receivables a_3
Trade and other receivables and Other non-current assets - Summary of Trade and Other Receivables (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Apr. 01, 2020 INR (₨) | |
Disclosure of detailed information about financial instruments [line items] | |||||
Trade receivables | ₨ 58,047 | ||||
Total—Financial (A) | ₨ 94,084 | $ 1,240 | ₨ 112,534 | ||
Total (A+B) | [1] | 322,314 | 4,248 | 258,456 | |
Financial receivables assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Bank Deposits | [2] | 2,066 | 27 | 1,153 | |
Site restoration assets | [3] | 10,232 | 135 | 8,220 | |
Trade receivables | [4],[5] | 81,562 | 1,075 | 66,041 | |
Others | [6] | 20,443 | 269 | 18,393 | |
Loans to related parties (Refer Note 35) | 54,624 | 720 | 70,712 | ||
Receivables from related parties | 1,510 | 20 | 1,476 | ||
Advance recoverable | 81,754 | 1,078 | 39,083 | ||
Total—Financial (A) | 252,191 | 3,324 | 205,078 | ||
Non financial receivables assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Balance with Government Authorities | 18,448 | 243 | 13,392 | ||
Advance for supplies | 27,062 | 357 | 12,345 | ||
Advance to related party | 1,450 | 19 | 3,215 | ||
Others | [7],[8] | 23,163 | 305 | 24,426 | |
Total - Non Financial (B) | 70,123 | 924 | 53,378 | ||
Non-current assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Total (A+B) | [1] | 109,810 | 1,447 | 127,727 | |
Non-current assets [member] | Financial receivables assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Bank Deposits | [2] | 2,066 | 27 | 1,153 | |
Site restoration assets | [3] | 10,232 | 135 | 8,220 | |
Trade receivables | [4],[5] | 32,187 | 424 | 31,582 | |
Others | [6] | 16,291 | 215 | 15,998 | |
Loans to related parties (Refer Note 35) | 31,644 | 417 | 50,562 | ||
Total—Financial (A) | 92,420 | 1,218 | 107,515 | ||
Non-current assets [member] | Non financial receivables assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Balance with Government Authorities | 7,607 | 100 | 6,098 | ||
Advance to related party | 610 | 944 | |||
Others | [7],[8] | 9,173 | 129 | 13,170 | |
Total - Non Financial (B) | 17,390 | 229 | 20,212 | ||
Current Assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Total (A+B) | [1] | 212,504 | 2,801 | 130,729 | |
Current Assets [member] | Financial receivables assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Trade receivables | [4],[5] | 49,375 | 651 | 34,459 | |
Others | [6] | 4,152 | 54 | 2,395 | |
Loans to related parties (Refer Note 35) | 22,980 | 303 | 20,150 | ||
Receivables from related parties | 1,510 | 20 | 1,476 | ||
Advance recoverable | 81,754 | 1,078 | 39,083 | ||
Total—Financial (A) | 159,771 | 2,106 | 97,563 | ||
Current Assets [member] | Non financial receivables assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Balance with Government Authorities | 10,841 | 143 | 7,294 | ||
Advance for supplies | 27,062 | 357 | 12,345 | ||
Advance to related party | 840 | 19 | 2,271 | ||
Others | [7],[8] | 13,990 | 176 | 11,256 | |
Total - Non Financial (B) | ₨ 52,733 | $ 695 | ₨ 33,166 | ||
[1]Net of allowances of ₹ 26,171 million and ₹ 30,585 million ($ 403 million) as at March 31, 2021 and March 31, 2022, respectively.[2]Includes ₹ 302 million and ₹ 2 million ($ 0 million) under lien with banks, ₹ 46 million and ₹ 49 million ($ 1 million) under lien with Others, ₹ 42 million and ₹ 386 million ($ 5 million) held as margin money, ₹ 214 million and ₹ 200 million ($ 3 million) held as principal reserve created against principal payment on loans from banks and ₹ Nil and ₹ 610 million ($ 8 million) held as margin money against bank guarantee as at March 31, 2021 and March 31, 2022 respectively.[3]Includes deposit in Site Restoration Fund of ₹ 8,220 million and ₹ 10,232 million ($ 135 million) as at March 31, 2021 and March 31, 2022 respectively.[4]In a matter between TSPL and Punjab State Power Corporation Limited (PSPCL) relating to assessment of whether there has been a change in law following the execution of the Power Purchase Agreement, the Appellate Tribunal (APTEL) for Electricity has dismissed the appeal in July 2017 filed by TSPL. TSPL later filed an appeal before the Honorable Supreme Court to seek relief, which is yet to be listed. The outstanding trade receivables in relation to this dispute and other matters is ₹ 16,047 million and ₹ 17,252 Million ($ 227 million) as at March 31, 2021 and March 31, 2022 respectively. The Group, based on external legal opinion and its own assessment of the merits of the case, remains confident that it is highly probable that the Supreme court will uphold TSPL’s appeal and has thus continued to treat these balances as recoverable. Additionally, trade receivables include ₹ 13,230 million and ₹ 12,927 million ($ 171 million) as at March 31, 2021 and March 31, 2022, respectively, withheld by GRIDCO (‘GRIDCO’ or ‘the customer’) on account of certain disputes relating to computation of power tariffs pending adjudication by APTEL. Additionally, GRIDCO had raised claims of ₹ 5,137 million ($68 Million) on the Company in respect of short supply of power, against which a provision of ₹ 2,180 Million ($29 million) had been made in previous years. Various minutes of meetings were signed with the customer for computing the short supply claims, which were subject to approval of Odisha State Electricity Regulatory Commission (OERC). Hearing on the subject matter (PPA Amendment Case) was completed in October 2019 and OERC had pronounced the order on June 22, 2020. Further, in August 2020, the Company filed an appeal before APTEL against the said OERC order which was finally admitted on March 22, 2022 for hearing to be scheduled in the future. GRIDCO has also sought review of the said OERC order. The matter has been posted for order by OERC in due course. In the meanwhile, power supply to GRIDCO has resumed and GRIDCO has been making regular payments against monthly energy invoices.[5]The total trade receivables as at April 1, 2020 were ₹ 58,047 million (net of provision for expected credit loss).[6]Includes claims receivables, advance recoverable (oil and gas business) and others. It also includes advance profit petroleum of ₹ Nil million and ₹ 272 million ($ 4 million) as at March 31, 2021 and March 31, 2022 respectively.[7]Includes claim receivables, advance recoverable (oil and gas business), prepaid expenses, export incentive receivables and receivables from KCM.[8]Includes receivable from KCM (net of provision) ₹ 2,210 million and ₹ Nil ($ Nil ) as at March 31, 2021 and March 31, 2022, respectively. A provisional liquidator (‘PL’) was appointed to manage the affairs of Konkola Copper Mines plc (KCM) on May 21, 2019, after ZCCM Investments Holdings Plc (ZCCM-IH), an entity majority owned by the Government of Zambia and a 20.6% shareholder in KCM, filed a winding up petition against KCM. KCM’s majority shareholder, Vedanta Resources Holdings Limited (VRHL), and its parent company, VRL, are contesting the winding up petition in the Zambian courts and have also commenced arbitration against ZCCM-IH, consistent with their position that arbitration is the agreed dispute resolution process, together with an application to the South African courts to stay the winding up proceedings consistent with the agreement to arbitrate. Meanwhile, KCM has not been supplying goods to the Company and/ or its subsidiaries, which it was supposed to as per the terms of the advance. The Group has recognised provision for expected credit loss of ₹ 2,127 million and ₹ 2,172 million ($ 29 million) during the years ended March 31, 2021 and March 31, 2022, respectively. The Group carries provision of ₹ 4,234 million and ₹ 6,444 million ($ 85 million) as at March 31, 2021 and March 31, 2022, respectively. |
Trade and other receivables a_4
Trade and other receivables and Other non-current assets - Summary of Trade and Other Receivables (Parenthetical) (Detail) ₨ in Millions, $ in Millions | May 21, 2019 | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Apr. 01, 2020 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | |||||
Fixed deposit under lien with banks | ₨ 2 | $ 0 | ₨ 302 | ||
Principal reserve created against bank principal payments | 200 | 3 | 214 | ||
Margin money included in trade and other receivables | 386 | 5 | 42 | ||
Deposit in Site Restoration Fund | 10,232 | 135 | 8,220 | ||
Trade receivables | ₨ 58,047 | ||||
Deposits Held As Resticted Balance | 610 | 8 | 0 | ||
Net of allowance | 30,585 | 403 | 26,171 | ||
Konkola Copper Mines [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Trade and other receivables held back by customer | 0 | 0 | 2,210 | ||
Advance to related party | 2,172 | 29 | 2,127 | ||
Provision for advances made to related parties | 6,444 | 85 | 4,234 | ||
Konkola Copper Mines [Member] | ZCCM Investment Holdings Limited [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Percentage of equity holding | 20.60% | ||||
Customer A [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Other deposits | 49 | 1 | 46 | ||
Power Purchase Agreement outstanding trade receivables | 17,252 | 227 | 16,047 | ||
Provision against claims raised in respect of short supply of power | 2,180 | 29 | |||
Advance petroleum profit | 272 | 4 | 0 | ||
Trade receivables | 12,927 | 171 | ₨ 13,230 | ||
Total claims raised in respect of short supply of power | ₨ 5,137 | $ 68 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Classes of current inventories [abstract] | |||
Raw materials and consumables | ₨ 84,449 | $ 1,113 | ₨ 60,555 |
Work-in-progress | 50,469 | 665 | 30,202 |
Finished goods | 8,335 | 110 | 8,752 |
Total | ₨ 143,253 | $ 1,888 | ₨ 99,509 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2022 USD ($) | |
Classes of current inventories [abstract] | ||||
Inventory held at net realizable value | ₨ 27,069 | ₨ 23,985 | $ 357 | |
Write down of inventory | ₨ 1,723 | $ 23 | ₨ 1,594 |
Short-term investments - Summar
Short-term investments - Summary of Short-term Investments (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Miscellaneous current assets [abstract] | |||
Bank deposits | ₨ 64,534 | $ 851 | ₨ 116,730 |
Other investments | 171,398 | 2,259 | 165,045 |
Total | ₨ 235,932 | $ 3,110 | ₨ 281,775 |
Short-term investments - Summ_2
Short-term investments - Summary of Short-term Investments (Parenthetical) (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Statement [LineItems] | |||
Fixed deposit under lien with banks | ₨ 8,238 | $ 109 | ₨ 6,568 |
Deposits under lien with others | 215 | 3 | 213 |
Deposit held as collateral in respect of closure cost | 400 | 5 | 465 |
Deposits held as margin money | 436 | 6 | 2,726 |
Interest reserve created against interest payment on loans from banks | 1,563 | 21 | 4,603 |
Deposits held as restricted balance | 566 | 7 | |
Reserve held against prinicipal portion of loans from banks | ₨ 807 | $ 11 |
Restricted cash and cash equi_3
Restricted cash and cash equivalents - Summary of Restricted Cash and Cash Equivalents (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
Miscellaneous current assets [abstract] | ||||
Cash at banks | [1] | ₨ 4,674 | $ 62 | ₨ 1,025 |
[1]Cash at banks is restricted in use as it relates to unclaimed dividends of ₹ 1,006 million and ₹ 4,654 million ($ 61 million) as at March 31, 2021 and March 31, 2022, respectively. It also includes earmarked escrow amount of ₹ 19 million and ₹ 20 million ($ 0 million) which relates to unclaimed redeemable preference shares as at March 31, 2021 and March 31, 2022, respectively. |
Restricted cash and cash equi_4
Restricted cash and cash equivalents - Summary of Restricted Cash and Cash Equivalents (Parenthetical) (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of Restricted Cash and Cash Equivalents [line items] | |||
Unclaimed dividends | ₨ 4,654 | $ 61 | ₨ 1,006 |
Escrow deposits | ₨ 20 | $ 0 | ₨ 19 |
Cash and cash equivalents - Sum
Cash and cash equivalents - Summary of Cash and Cash Equivalents (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
Cash and cash equivalents [abstract] | ||||
Cash at banks and in hand | ₨ 54,084 | $ 713 | ₨ 26,604 | |
Short-term deposits | [1] | 32,625 | 430 | 21,933 |
Cash and cash equivalents | ₨ 86,709 | $ 1,143 | ₨ 48,537 | |
[1]Short-term deposits are made for periods of between one day and three months, depending on the immediate cash requirements of the respective companies, and earn interest at the respective short-term deposit rates. |
Borrowings - Summary of Current
Borrowings - Summary of Current Borrowings (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about borrowings [abstract] | |||
Banks and financial institutions | ₨ 74,215 | $ 978 | ₨ 36,086 |
Current maturities of long-term borrowings | 94,729 | 1,249 | 153,514 |
Current borrowings | ₨ 168,944 | $ 2,227 | ₨ 189,600 |
Borrowings - Summary of Non-Cur
Borrowings - Summary of Non-Current Borrowings (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about borrowings [abstract] | |||
Banks and financial institutions | ₨ 371,525 | $ 4,897 | ₨ 359,164 |
Non-convertible debentures | 79,368 | 1,046 | 165,923 |
Redeemable preference shares | 19 | 0 | 19 |
Non-convertible bonds | 314 | 4 | 1,565 |
Others | 5,526 | 74 | 6,465 |
Non-current borrowings | 456,752 | 6,021 | 533,136 |
Less: Current maturities of long-term borrowings | (94,729) | (1,249) | (153,514) |
Non-current borrowings, net of current maturities | ₨ 362,023 | $ 4,772 | ₨ 379,622 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2022 USD ($) | |
Union Bank Of India Limited Agreement [Member] | |||
Statement [line items] | |||
Credit Facility Maximum Borrowing Capacity | ₨ 80,000 | $ 1,054 | |
Credit Facility Outstanding Borrowing Capacity | 78,400 | 1,033 | |
Syndicated Loan Facility Agreement [Member] | |||
Statement [line items] | |||
Credit Facility Maximum Borrowing Capacity | ₨ 100,000 | ₨ 100,000 | $ 1,318 |
Ownership interest in subsidiary | 5.77% | 14.82% | |
Percentage of equity interest owned | 50.10% | 50.10% | |
Credit Facility Outstanding Borrowing Capacity | ₨ 86,500 |
Borrowings - Summary of Non-con
Borrowings - Summary of Non-convertible Debentures Issued by the Group (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | ₨ 79,368 | $ 1,046 | ₨ 165,923 |
9.20% due February 2030 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 20,000 | 264 | 20,000 |
7.68% due February 2024 | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 9,972 | 131 | |
9.20% due December 2022 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 7,494 | 99 | 7,487 |
8.75% due June 2022 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 12,698 | 167 | 12,690 |
8.90% due December 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 8,991 | ||
8.75% due September 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 2,500 | ||
5.35% due September 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 28,140 | 371 | 35,163 |
9.18% due July 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 10,000 | ||
9.27% due July 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 9,999 | ||
8.50% due June 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 16,500 | ||
8.75% due April 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 2,500 | ||
8.50% due April 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 23,500 | ||
8.55% due April 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 10,000 | ||
0.00% due September 2021 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | ₨ 1,064 | $ 14 | 1,666 |
7.50% due March-2022 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | ₨ 4,927 |
Borrowings - Summary of Non-c_2
Borrowings - Summary of Non-convertible Debentures Issued by the Group (Parenthetical) (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | ₨ 79,368 | $ 1,046 | ₨ 165,923 |
5.35% due September 2022 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 7,030 | ||
5.35% due September 2023 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 21,110 | ||
0.00% due September 2022 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | 554 | ||
0.00% due September 2023 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-convertible debentures | ₨ 510 |
Borrowings - Summary of Borrowi
Borrowings - Summary of Borrowings from Funding Arrangements (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about borrowings [abstract] | |||
Secured borrowings | ₨ 427,902 | $ 5,640 | ₨ 487,027 |
Unsecured borrowings | 103,065 | 1,359 | 82,195 |
Total borrowings | ₨ 530,967 | $ 6,999 | ₨ 569,222 |
Borrowings - Summary of Securit
Borrowings - Summary of Security Details (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2022 INR (₨) a | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
Disclosure of detailed information about borrowings [line items] | |||
Secured borrowings | ₨ 427,902 | $ 5,640 | ₨ 487,027 |
Working capital loans [member] | Vedanta Limited [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by first pari passu charge on current assets of Vedanta Limited | ||
Secured borrowings | ₨ | 6,500 | ||
Working capital loans [member] | TSPL [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by second pari passu charge on fixed assets of TSPL and first pari passu charge on current assets of, both present and future | ||
Secured borrowings | ₨ 5,150 | 68 | 490 |
Working capital loans [member] | BALCO [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by hypothecation of stock of raw materials, work-in-progress, semi-finished, finished products, consumable stores and spares, bills receivables, book debts and all other movables, both present and future in BALCO. The charges rank pari passu among banks under the multiple banking arrangements, for fund based facilities | ||
Secured borrowings | ₨ 500 | 7 | |
External commercial borrowings [member] | BALCO Korba [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | The facility is secured by first pari passu charge on all movable property, plant and equipments related to power plants and aluminium smelters of BALCO located at Korba both present and future along with secured lenders | ||
Secured borrowings | ₨ 756 | 10 | 2,188 |
External commercial borrowings [member] | Power Plant And Aluminium Smelter Located At Balco Korba Member [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | The facility is secured by first pari passu charge on all movable property, plant and equipments related to power plant and aluminium smelter located at Korba both present and future along with secured lenders at BALCO | ||
Secured borrowings | ₨ 377 | 5 | 1,686 |
External commercial borrowings [member] | First Ranking Pari Passu Charge By Way Of Hypothecation On Specified Movable Fixed Assets Pertaining To Manufacturing Facilities Comprising [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | First Pari-passu charge by way of hypothecation on the specified movable fixed assets of the Company pertaining to its manufacturing facilities comprising (i) Alumina Refinery having output of 6 MTPA along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Odisha; (ii) Aluminium Smelter having output of 1.6 MTPA along with a 1215 (9*135) MW CPP at Jharsuguda, Odisha. | ||
Secured borrowings | ₨ 11,195 | 148 | |
Non-convertible debentures [member] | Lanjigarh 2 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by the whole of the movable fixed assets of (i) Alumina Refinery having output of 1 MTPA along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Odisha and (ii) Aluminium Smelter having output of 1.6 MTPA along with a 1,215 (9*135) MW CPP at Jharsuguda, Odisha. Additionally, secured by way of mortgage on the freehold land comprising of 18.9 acres situated at Jharsuguda, Odisha | ||
Secured borrowings | ₨ 20,000 | 264 | 54,095 |
Non-convertible debentures [member] | FACOR Existing assets [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by way of charge against all existing assets of FACOR | ||
Secured borrowings | ₨ 1,063 | 14 | 1,670 |
Non-convertible debentures [member] | Other secured non convertible debentures [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Other secured non-convertible debentures | ||
Secured borrowings | ₨ 0 | 0 | 75,000 |
Non-convertible debentures [member] | Power Plant Lanjigarh And Jharsuguda Odisha [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by way of first pari-passu charge on the specific movable fixed assets. The whole of the movable fixed assets both present and future, of the Borrower in relation to the Aluminium division, comprising the following facilities: | ||
Secured borrowings | ₨ 9,972 | 131 | 0 |
Non-convertible debentures [member] | Tuticorin District Power Plant [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by way of first pari passu charge on whole of the movable fixed assets of (i) Alumina Refinery having output of 1 MTPA along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Odisha and (ii) Aluminum Smelter having output of 1.6 MTPA along with a 1,215 (9*135) MW CPP at Jharsuguda, Odisha. Additionally, secured by way of mortgage on the freehold land comprising 85 cents situated at Tuticorin District, Tamil Nadu | ||
Secured borrowings | ₨ 20,192 | 266 | 0 |
Area Of Comprising Free hold Land | a | 85 | ||
Term Loans [member] | BALCO2 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by first pari passu charge on all present and future movable fixed assets including but not limited to plant and machinery, spares, tools and accessories of BALCO (excluding of coal block assets) by way of a deed of hypothecation | ||
Secured borrowings | ₨ 8,898 | 117 | 24,996 |
Term Loans [member] | TSPL [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by first pari passu charge on fixed assets of TSPL and second pari passu charge on current assets of TSPL, both present and future | ||
Secured borrowings | ₨ 64,981 | 856 | 51,400 |
Term Loans [member] | BALCO [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | The facility is secured by first pari passu charge on all movable property, plant and equipments related to power plants and Aluminium Smelters of BALCO located at Korba both present and future along with secured lenders | ||
Secured borrowings | ₨ 756 | 10 | 1,471 |
Term Loans [member] | Aluminium Division [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | First pari passu charge by way of hypothecation/ equitable mortgage on the movable/ immovable assets of the Aluminium Division of Vedanta Limited comprising alumina refinery having output of 1 MTPA along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Orissa; aluminium smelter having output of 1.6 MTPA along with a 1215 (9x135) MW CPP at Jharsuguda, Orissa, both present and future | ||
Secured borrowings | ₨ 6,248 | 82 | 18,834 |
Term Loans [member] | Refinery expansion Project [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by a pari passu charge by way of hypothecation of all the movable fixed assets of Vedanta Limited pertaining to its Aluminium Division project consisting of (i) Alumina Refinery having output of 1 MTPA (Refinery) along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Orissa (Power Plant); and (ii) Aluminium Smelter having output of 1.6 MTPA along with a 1215 (9x135) MW CPP at Jharsuguda, Orissa (Smelter) (the Refinery, Power Plant and Smelter). Also, a first pari passu charge by way of equitable mortgage on the land pertaining to the mentioned project of aluminium division | ||
Secured borrowings | ₨ 17,764 | 234 | 21,935 |
Term Loans [member] | Lanjigarh Expansion Project [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by a pari passu charge by way of hypothecation on the movable fixed assets of the Lanjigarh Refinery Expansion Project including 210 MW Power Project. Lanjigarh Refinery Expansion Project shall specifically exclude the 1 MTPA Alumina Refinery of Vedanta Limited along with 90 MW power plant in Lanjigarh and all its related expansions | ||
Secured borrowings | ₨ 4,018 | 52 | 4,357 |
Term Loans [member] | Aluminium Division of Vedanta Limited 1 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by a pari passu charge by way of hypothecation on the movable fixed assets of Vedanta Limited pertaining to its Aluminium division comprising 1 MTPA Alumina Refinery plant with 90 MW captive power plant at Lanjigarh, Odisha and 1.6 MTPA Aluminium Smelter plant with 1215 MW captive power plant at Jharsuguda, Odisha | ||
Secured borrowings | ₨ 40,193 | 530 | 12,270 |
Term Loans [member] | Aluminium Division of Vedanta Limited 2 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | First pari passu charge by way of hypothecation/ equitable mortgage on the movable/ immovable assets of the Aluminium division of Vedanta Limited comprising Alumina Refinery having output of 1 MTPA along with co-generation captive power plant with an aggregate capacity of 90 MW at Lanjigarh, Orissa; Aluminium Smelter having output of 1.6 MTPA along with a 1215 (9x135) MW CPP at Jharsuguda, Orissa and additional charge on Lanjigarh Expansion project, both present and future | ||
Secured borrowings | ₨ 9,985 | 132 | 10,922 |
Term Loans [member] | Aluminium Division of Vedanta Limited3 [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by a pari passu charge by way of hypothecation/ equitable mortgage of the movable/ immovable fixed assets of Vedanta Limited pertaining to its Aluminium division comprising 1 MTPA Alumina Refinery plant with 90 MW captive power plant at Lanjigarh, Odisha and 1.6 MTPA Aluminium Smelter plant with 1215 MW captive power plant at Jharsuguda, Odisha | ||
Secured borrowings | ₨ 69,184 | 912 | 28,015 |
Term Loans [member] | Cairn Energy Hydrocarbons Limited [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by (i) floating charge on borrower collection account and associated permitted investments and (ii) corporate guarantee from Cairn Energy Hydrocarbons Ltd (“ CEHL”) and floating charge on collection account and current assets of CEHL | ||
Secured borrowings | ₨ 16,022 | 211 | 28,100 |
Term Loans [member] | THL Zinc Namibia Holdings (Proprietary) Limited [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Pledge of 49% of shares and other securities and rights to any claims held by THL Zinc Limited in and against BMM | ||
Secured borrowings | ₨ 453 | 6 | 2,198 |
Term Loans [member] | Secured by a First Pari Passu Charge on the Identified Fixed Assets of the Vedanta Limited Including Dividends Receivable from Hindustan Zinc Limited [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by a first pari passu charge on the identified fixed assets of the Vedanta Limited both present and future, pertaining to its Aluminium business (Jharsuguda Plant, Lanjigarh Plant), 2400 MW power plant assets at Jharsuguda, Copper Plant assets at Silvasa, Iron ore business in the states of Karnataka and Goa, dividends receivable from HZL, a subsidiary of the Vedanta Limited, and the debt service reserve account to be opened for the Facility along with the amount lying to the credit thereof# | ||
Secured borrowings | ₨ 78,212 | 1,031 | 85,380 |
Term Loans [member] | Secured By Movable Assets Of Aluminium Refinery Aggregate Capacity Of Ninety Megawatts Along With One Thousand Two Hundred And Fifteen Megawatt CPP Vedanta Limited Jharsaguda Orissa [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by first pari passu charge by way of hypothecation of whole of the movable fixed assets of (i) Alumina Refinery having output of 1.7 to 6 MTPA along with co-generation captive power plant with an aggregate capacity of 90MW at Lanjigarh, Odisha and (ii) Aluminium Smelter having output of 1.6 MTPA along with a 1,215 (9*135) MW CPP at Jharsuguda, Odisha | ||
Secured borrowings | ₨ 6,200 | 82 | 11,478 |
Term Loans [member] | Other Secured Term Loans [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Other secured term loans | ||
Secured borrowings | ₨ 0 | 0 | 6,860 |
Term Loans [member] | First Ranking Pari Passu Charge By Way Of Hypothecationmortgage On All Fixed Immovable Assets Of Electrosteel Steels Limited But Excluding Any Current Assets Or Pledge Over Any Shares [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | First ranking pari passu charge by way of hypothecation/mortgage on all fixed/ immovable assets of ESL Steel Limited but excluding any current assets or pledge over any shares. | ||
Secured borrowings | ₨ 27,048 | 357 | 31,341 |
Term Loans [member] | VGCB At Visakhapatnam Andhra Pradesh [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | First pari-passu charge on the movable fixed and current assets (except for the Concession assets) of VGCB at Visakhapatnam, Andhra Pradesh | ||
Secured borrowings | ₨ 3,750 | 49 | 0 |
Other Banks And Financial Institutions [member] | AvanStrate Inc. [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Secured by Fixed asset (platinum) of AvanStrate | ||
Secured borrowings | ₨ 4,985 | 66 | 5,361 |
Other Banks And Financial Institutions [member] | Hypothecation Of Raw Materials Finished Goods And Semifinished Goods Of Vedanta Limited [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Security details description | Other secured borrowings | ||
Secured borrowings | ₨ 0 | $ 0 | ₨ 480 |
Borrowings - Summary of Secur_2
Borrowings - Summary of Security Details (Parenthetical) (Detail) | 12 Months Ended |
Mar. 31, 2022 MTPA MW | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 1,215 |
External commercial borrowings [member] | Alumina Smelter Plant Jharsuguda Odisha [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 1.6 |
External commercial borrowings [member] | Alumina Refinery Lanjigarh Odisha [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 90 |
Aluminum power plant capacity | 6 |
Non-convertible debentures [member] | Lanjigarh 3 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 90 |
Aluminum power plant capacity | 1,215 |
Non-convertible debentures [member] | Power Plant Lanjigarh Odisha [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 1 |
Non-convertible debentures [member] | Power Plant Lanjigarh Odisha [Member] | Captive Power Plant [member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 90 |
Non-convertible debentures [member] | Alumina Smelter Plant Jharsuguda Odisha [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 1.6 |
Non-convertible debentures [member] | Alumina Smelter Plant Jharsuguda Odisha [Member] | Captive Power Plant [member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 1,215 |
Non-convertible debentures [member] | Alumina Refinery Lanjigarh Odisha 2 [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 90 |
Aluminum power plant capacity | 1 |
Non-convertible debentures [member] | Alumina Smelter Plant Jharsuguda Odisha 2 [Member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 1,215 |
Aluminum power plant capacity | 1.6 |
Non-convertible debentures [member] | MTPA [member] | Jharsuguda aluminium [member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 1.6 |
Term Loans [member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 1,215 |
Term Loans [member] | Refinery expansion Project [member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 1,215 |
Term Loans [member] | Aluminium Division of Vedanta Limited 2 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 1,215 |
Term Loans [member] | Jharsaguda Power Plant 3 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 1,215 |
Term Loans [member] | Jharsaguda Power Plant 3 [member] | Captive Power Plant [member] | |
Disclosure of detailed information about borrowings [line items] | |
Power plant capacity | MW | 90 |
Term Loans [member] | MTPA [member] | Aluminium Division [member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 1.6 |
Term Loans [member] | MTPA [member] | Refinery expansion Project [member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 1.6 |
Term Loans [member] | MTPA [member] | Aluminium Division of Vedanta Limited 2 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 1.6 |
Term Loans [member] | MTPA [member] | Jharsaguda Power Plant 3 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 1.6 |
Term Loans [member] | Bottom of range [member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 1.7 |
Term Loans [member] | Top of range [member] | |
Disclosure of detailed information about borrowings [line items] | |
Aluminum power plant capacity | 6 |
Borrowings - Summary of Movemen
Borrowings - Summary of Movement in Borrowings (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |||
Disclosure of detailed information about borrowings [line items] | |||||
Beginning balance | ₨ 569,222 | [1] | $ 7,503 | ₨ 579,475 | |
Cash flow | (39,552) | (521) | (11,009) | ||
Other non-cash changes | [2] | 586 | 8 | 1,324 | |
Debt on acquisition through business combination | 80 | ||||
Foreign currency translation differences | 711 | 9 | (648) | ||
Ending balance | [1] | 530,967 | $ 6,999 | 569,222 | |
Short term borrowings [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Beginning balance | 36,086 | 112,710 | |||
Cash flow | 38,869 | (82,309) | |||
Other non-cash changes | [2] | (787) | 5,768 | ||
Debt on acquisition through business combination | 80 | ||||
Foreign currency translation differences | 47 | (163) | |||
Ending balance | 74,215 | 36,086 | |||
Long term borrowings [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Beginning balance | [3] | 533,136 | 466,765 | ||
Cash flow | [3] | (78,421) | 71,300 | ||
Other non-cash changes | [2],[3] | 1,373 | (4,444) | ||
Foreign currency translation differences | [3] | 664 | (485) | ||
Ending balance | [3] | ₨ 456,752 | ₨ 533,136 | ||
[1]Additionally, Non-current bank deposits of ₹ 1,107 million and ₹ 2,017 million ($ 27 million) as at March 31, 2021 and March 31, 2022 respectively have been included to form part of ‘total cash’ in the capital management disclosures.[2]Other non-cash changes comprises of amortisation of borrowing costs, foreign exchange difference on borrowings.[3]including current maturities of long-term borrowings |
Acceptances - Summary of Accept
Acceptances - Summary of Acceptances (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Miscellaneous current liabilities [abstract] | |||
Payable under trade financing arrangements | ₨ 110,936 | $ 1,462 | ₨ 83,711 |
Acceptances | ₨ 110,936 | $ 1,462 | ₨ 83,711 |
Acceptances - Additional Inform
Acceptances - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2022 | |
Bottom of range [member] | |
Disclosure Of Acceptances And Guarantees By Counterparty [Line Items] | |
Percentage Of Interest Rate On Acceptance From Indian Or Foreign Bank | 0.28% |
Percentage Of Interest Rate On Acceptance From Domestic Bank | 4% |
Top of range [member] | |
Disclosure Of Acceptances And Guarantees By Counterparty [Line Items] | |
Percentage Of Interest Rate On Acceptance From Indian Or Foreign Bank | 3.16% |
Percentage Of Interest Rate On Acceptance From Domestic Bank | 8% |
Trade and other payables and _3
Trade and other payables and Other non-current liabilities - Summary of Trade and Other Payables (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2021 USD ($) | Mar. 31, 2020 INR (₨) |
Financial | |||||
Unclaimed/unpaid dividend | ₨ 1,229 | $ 16 | ₨ 1,014 | ||
Trade payables | 104,521 | 1,378 | 75,047 | ||
Amount due to related party | 1,655 | 22 | 4,130 | ||
Liabilities for capital expenditure | 119,602 | 1,577 | 79,453 | ||
Profit petroleum payable | 21,798 | 287 | 14,677 | ||
Security deposit and retentions | 2,376 | 31 | 2,225 | ||
Other liabilities | 37,299 | 492 | 39,655 | ||
Put option liability with non-controlling interests | 2,397 | 32 | 2,633 | ||
Lease liability | 4,740 | 63 | 6,411 | $ 84 | ₨ 6,599 |
Financial liabilities | 295,617 | 3,898 | 225,245 | ||
Non Financial | |||||
Statutory liabilities | 31,573 | 416 | 31,461 | ||
Amount payable to owned post employment benefit trust | 334 | 4 | 321 | ||
Advances from customers | 45,322 | 597 | 62,330 | ||
Advance from related party | 20 | 0 | |||
Other payables | 2,049 | 28 | 1,840 | ||
Total - Non Financial | 79,298 | 1,045 | 95,952 | ||
Trade and other payables | 374,915 | 4,943 | 321,197 | ||
Non current [member] | |||||
Financial | |||||
Liabilities for capital expenditure | 9,621 | 127 | 9,365 | ||
Security deposit and retentions | 2 | 0 | 2 | ||
Other liabilities | 1,196 | 16 | 847 | ||
Put option liability with non-controlling interests | 2,397 | 32 | 2,633 | ||
Lease liability | 1,504 | 20 | 1,603 | ||
Financial liabilities | 14,720 | 195 | 14,450 | ||
Non Financial | |||||
Advances from customers | 4,026 | 53 | |||
Advance from related party | 0 | ||||
Other payables | 0 | 0 | |||
Total - Non Financial | 4,026 | 53 | |||
Trade and other payables | 18,746 | 248 | 14,450 | ||
Current [member] | |||||
Financial | |||||
Unclaimed/unpaid dividend | 1,229 | 16 | 1,014 | ||
Trade payables | 104,521 | 1,378 | 75,047 | ||
Amount due to related party | 1,655 | 22 | 4,130 | ||
Liabilities for capital expenditure | 109,981 | 1,450 | 70,088 | ||
Profit petroleum payable | 21,798 | 287 | 14,677 | ||
Security deposit and retentions | 2,374 | 31 | 2,223 | ||
Other liabilities | 36,103 | 476 | 38,808 | ||
Lease liability | 3,236 | 43 | 4,808 | ||
Financial liabilities | 280,897 | 3,703 | 210,795 | ||
Non Financial | |||||
Statutory liabilities | 31,573 | 416 | 31,461 | ||
Amount payable to owned post employment benefit trust | 334 | 4 | 321 | ||
Advances from customers | 41,296 | 544 | 62,330 | ||
Advance from related party | 20 | 0 | |||
Other payables | 2,049 | 28 | 1,840 | ||
Total - Non Financial | 75,272 | 992 | 95,952 | ||
Trade and other payables | ₨ 356,169 | $ 4,695 | ₨ 306,747 |
Trade and other payables and _4
Trade and other payables and Other non-current liabilities - Summary of Trade and Other Payables (Parenthetical) (Detail) ₨ / shares in Units, $ / shares in Units, ₨ in Millions, $ in Millions | 12 Months Ended | ||||||
Mar. 31, 2022 INR (₨) ₨ / shares | Mar. 31, 2022 USD ($) $ / shares | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | Apr. 01, 2021 INR (₨) | Apr. 01, 2020 INR (₨) | Apr. 01, 2019 INR (₨) | |
Disclosure of financial liabilities [line items] | |||||||
Contract liability | ₨ 62,330 | ₨ 80,570 | ₨ 91,949 | ||||
Contract liability revenue recognised | ₨ 62,206 | $ 820 | ₨ 78,782 | ₨ 84,886 | |||
Trade and other payable [member] | |||||||
Disclosure of financial liabilities [line items] | |||||||
Repayment of outstanding advance from related party | ₨ 0 | $ 0 | ₨ 45 | ₨ 6,499 | |||
Bottom of range [member] | |||||||
Disclosure of financial liabilities [line items] | |||||||
Put option exercise price | (per share) | ₨ 52 | $ 0.757 | |||||
Top of range [member] | |||||||
Disclosure of financial liabilities [line items] | |||||||
Trade payables settlement period | 180 days | 180 days |
Trade and other payables and _5
Trade and other payables and Other non-current liabilities - Summary of Movement In Lease Liabilities (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Trade and other current payables [abstract] | ||||
Beginning balance, As at April 01 | ₨ 6,411 | $ 84 | ₨ 6,599 | |
Additions during the year | 1,155 | 15 | 3,611 | |
Interest on lease liabilities | 136 | 2 | 278 | ₨ 247 |
Payments made | (2,318) | (31) | (3,380) | (3,164) |
Disposal/adjustments | (644) | (7) | (697) | |
Ending balance, As at March 31, | ₨ 4,740 | $ 63 | ₨ 6,411 | ₨ 6,599 |
Financial Instruments - Summary
Financial Instruments - Summary of Carrying Value and Fair Value of Each Category of Financial Assets (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2021 USD ($) | Mar. 31, 2020 INR (₨) | |
Disclosure of financial assets [line items] | ||||||
Financial assets investments - at fair value | ₨ 1,472 | $ 19 | ₨ 1,532 | $ 20 | ₨ 911 | |
Other non-current assets | 94,084 | 1,240 | 112,534 | |||
Short term investments -Bank deposits | 64,534 | 851 | 116,730 | |||
Derivative financial assets | 2,580 | 34 | 701 | |||
Cash and cash equivalents | 86,709 | 1,143 | 48,537 | |||
Restricted cash and cash equivalents | 4,674 | 62 | 1,025 | |||
Carrying amount [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Financial assets investments - at fair value | 1,472 | 19 | 1,532 | |||
Other non-current assets | 92,420 | 1,218 | 107,515 | |||
Trade and other receivables | 159,771 | 2,106 | 97,563 | |||
Short term investments -Bank deposits | 64,534 | 851 | 116,730 | |||
Other investments | 171,398 | 2,259 | 165,044 | |||
Derivative financial assets | 2,580 | 34 | 701 | |||
Cash and cash equivalents | 86,709 | 1,143 | 48,537 | |||
Restricted cash and cash equivalents | 4,674 | 62 | 1,025 | |||
Financial assets | 583,558 | 7,692 | 538,647 | |||
Financial assets at fair value, class [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Financial assets investments - at fair value | 1,472 | 19 | 1,532 | |||
Trade and other receivables | 160,771 | 2,119 | 97,711 | |||
Short term investments -Bank deposits | 64,534 | 851 | 116,730 | |||
Other investments | 171,398 | 2,259 | 165,044 | |||
Derivative financial assets | 2,580 | 34 | 701 | |||
Cash and cash equivalents | 86,709 | 1,143 | 48,537 | |||
Restricted cash and cash equivalents | 4,674 | 62 | 1,025 | |||
Financial assets | 586,222 | $ 7,727 | 543,814 | |||
Financial assets at fair value through profit or loss, category [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Financial assets investments - at fair value | 295 | 500 | ||||
Trade and other receivables | [1] | 5,206 | 1,633 | |||
Other investments | 171,398 | 165,044 | ||||
Derivative financial assets | 101 | 129 | ||||
Financial assets | 177,000 | 167,306 | ||||
Financial Asset Measured At Fair Value through Other Comprehensive Income Category [Member] | ||||||
Disclosure of financial assets [line items] | ||||||
Financial assets investments - at fair value | 1,177 | 1,032 | ||||
Financial assets | 1,177 | 1,032 | ||||
Financial assets at amortised cost, category [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Other non-current assets | 92,420 | 107,515 | ||||
Trade and other receivables | 154,565 | 95,930 | ||||
Short term investments -Bank deposits | 64,534 | 116,730 | ||||
Cash and cash equivalents | 86,709 | 48,537 | ||||
Restricted cash and cash equivalents | 4,674 | 1,025 | ||||
Financial assets | 402,902 | 369,737 | ||||
Derivatives used for hedging [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Derivative financial assets | 2,479 | 572 | ||||
Financial assets | ₨ 2,479 | ₨ 572 | ||||
[1]Under IFRS 9, provisionally priced receivables are fair valued at each reporting date. |
Financial Instruments - Summa_2
Financial Instruments - Summary of Carrying Value and Fair Value of Each Category of Financial Liabilities (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2021 USD ($) | Mar. 31, 2020 INR (₨) | |||
Disclosure of financial liabilities [line items] | ||||||||
Borrowings | ₨ 530,967 | [1] | $ 6,999 | [1] | ₨ 569,222 | [1] | $ 7,503 | ₨ 579,475 |
Acceptances | 110,936 | 1,462 | 83,711 | |||||
Derivative financial liabilities | 5,308 | 70 | 2,786 | |||||
Financial liabilities | 295,617 | 3,898 | 225,245 | |||||
Carrying amount [member] | ||||||||
Disclosure of financial liabilities [line items] | ||||||||
Borrowings | 530,967 | 6,999 | 569,222 | |||||
Acceptances | 110,936 | 1,462 | 83,711 | |||||
Trade and other payables | 295,617 | 3,897 | 225,245 | |||||
Derivative financial liabilities | 5,365 | 71 | 3,551 | |||||
Financial liabilities | 942,885 | 12,429 | 881,729 | |||||
Financial liabilities at fair value, class [member] | ||||||||
Disclosure of financial liabilities [line items] | ||||||||
Borrowings | 531,898 | 7,011 | 565,941 | |||||
Acceptances | 110,936 | 1,462 | 83,711 | |||||
Trade and other payables | 295,617 | 3,897 | 225,245 | |||||
Derivative financial liabilities | 5,365 | 71 | 3,551 | |||||
Financial liabilities | 943,816 | $ 12,441 | 878,448 | |||||
Derivatives used for hedging [member] | ||||||||
Disclosure of financial liabilities [line items] | ||||||||
Derivative financial liabilities | 4,011 | 2,618 | ||||||
Financial liabilities | 4,011 | 2,618 | ||||||
Financial liabilities at amortised cost, category [member] | ||||||||
Disclosure of financial liabilities [line items] | ||||||||
Borrowings | 530,967 | 569,222 | ||||||
Acceptances | 110,936 | 83,711 | ||||||
Trade and other payables | 282,885 | 215,546 | ||||||
Financial liabilities | 924,788 | 868,479 | ||||||
Other Financial Liability [member] | ||||||||
Disclosure of financial liabilities [line items] | ||||||||
Trade and other payables | 2,397 | 2,633 | ||||||
Financial liabilities | 2,397 | 2,633 | ||||||
Financial liabilities at fair value through profit or loss, category [member] | ||||||||
Disclosure of financial liabilities [line items] | ||||||||
Trade and other payables | 10,335 | 7,066 | ||||||
Derivative financial liabilities | 1,354 | 933 | ||||||
Financial liabilities | ₨ 11,689 | ₨ 7,999 | ||||||
[1]Additionally, Non-current bank deposits of ₹ 1,107 million and ₹ 2,017 million ($ 27 million) as at March 31, 2021 and March 31, 2022 respectively have been included to form part of ‘total cash’ in the capital management disclosures. |
Financial Instruments - Summa_3
Financial Instruments - Summary of Carrying Value and Fair Value of Each Category of Financial Liabilities (Parenthetical) (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2021 USD ($) | Mar. 31, 2020 INR (₨) |
Disclosure of financial liabilities [line items] | |||||
Lease liability | ₨ 4,740 | $ 63 | ₨ 6,411 | $ 84 | ₨ 6,599 |
Financial liabilities at fair value, class [member] | |||||
Disclosure of financial liabilities [line items] | |||||
Lease liability | ₨ 4,740 | $ 63 | ₨ 6,411 |
Financial Instruments - Summa_4
Financial Instruments - Summary of Categories of Financial Assets and Liabilities Measured at Fair Value (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | ₨ 295,617 | $ 3,898 | ₨ 225,245 |
At fair value [member] | Level 1 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 73,142 | 964 | 64,108 |
At fair value [member] | Level 2 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 107,112 | 1,412 | 104,195 |
Financial liabilities | 15,700 | 207 | 10,617 |
At fair value [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 402 | 5 | 607 |
Financial liabilities | 2,397 | 32 | 2,633 |
At fair value [member] | Investments [member] | Level 1 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 72,072 | 950 | 63,183 |
At fair value [member] | Investments [member] | Level 2 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 99,326 | 1,309 | 101,861 |
At fair value [member] | Investments [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 295 | 4 | 500 |
At fair value [member] | Derivatives used for hedging [member] | Level 2 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivatives designated as hedging instruments - Derivatives financial assets | 2,479 | 33 | 572 |
Financial assets | 101 | 1 | 129 |
Derivatives designated as hedging instruments - Derivatives financial liabilities | 4,011 | 53 | 2,618 |
Financial liabilities | 1,354 | 18 | 933 |
At fair value [member] | Financial assets available-for-sale, category [member] | Level 1 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial asset investments held at fair value | 1,070 | 14 | 925 |
At fair value [member] | Financial assets available-for-sale, category [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial asset investments held at fair value | 107 | 1 | 107 |
At fair value [member] | Trade and other payable [member] | Level 3 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 2,397 | 32 | 2,633 |
At fair value [member] | Trade Payables [member] | Level 2 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | 10,335 | 136 | 7,066 |
At fair value [member] | Trade and Other Receivable [Member] | Level 2 of fair value hierarchy [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | ₨ 5,206 | $ 69 | ₨ 1,633 |
Financial Instruments - Summa_5
Financial Instruments - Summary of Fair Value of Trade Receivables, Other Non-current Assets And Borrowings Which Are Carried At Amortised Cost (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2021 USD ($) | Mar. 31, 2020 INR (₨) | |||
Financial Assets | ||||||||
Other non-current assets | ₨ 94,084 | $ 1,240 | ₨ 112,534 | |||||
Disclosure of financial liabilities [abstract] | ||||||||
Borrowings | 530,967 | [1] | 6,999 | [1] | 569,222 | [1] | $ 7,503 | ₨ 579,475 |
Financial liabilities | 295,617 | 3,898 | 225,245 | |||||
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | ||||||||
Financial Assets | ||||||||
Other non-current assets | 94,084 | 1,240 | 112,534 | |||||
Trade and other receivables | 160,771 | 2,119 | 97,711 | |||||
Financial assets | 254,855 | 3,359 | 210,245 | |||||
Disclosure of financial liabilities [abstract] | ||||||||
Borrowings | 531,898 | 7,011 | 565,941 | |||||
Financial liabilities | ₨ 531,898 | $ 7,011 | ₨ 565,941 | |||||
[1]Additionally, Non-current bank deposits of ₹ 1,107 million and ₹ 2,017 million ($ 27 million) as at March 31, 2021 and March 31, 2022 respectively have been included to form part of ‘total cash’ in the capital management disclosures. |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||||||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 USD ($) | Mar. 31, 2020 INR (₨) | |||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||
Transfers between Level 1, Level 2 and Level 3 | ₨ 0 | |||||||||
Net provisionally priced financial liabilities | 5,129 | ₨ 5,440 | $ 70 | |||||||
Undrawn fund based committed facilities | 141,020 | 1,859 | ||||||||
Cash and short-term investments | 327,315 | 4,315 | ||||||||
Cash, bank and current investments | [1] | 322,481 | 326,138 | 4,251 | ||||||
Pledged financial instruments with carrying amout | 271,943 | 219,900 | 3,584 | |||||||
Pledged inventories | 114,663 | 76,541 | 1,511 | |||||||
Net debt | 208,486 | 243,084 | 2,748 | |||||||
Debt | 530,967 | [2] | 569,222 | [2] | 6,999 | [2] | $ 7,503 | ₨ 579,475 | ||
Maximum exposure to credit risk | 583,558 | 538,647 | 7,692 | |||||||
Interest rate risk [member] | ||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||
Cash, bank and current investments | 322,481 | 326,138 | 4,250 | |||||||
Net debt | 208,486 | 243,084 | 2,748 | |||||||
Debt | 530,967 | 569,222 | $ 6,999 | |||||||
Copper sector [member] | ||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||
Effect on pre-tax profit/(loss) of a 10% increase in LME | (830) | $ (11) | (1,002) | |||||||
Copper sector [member] | India [member] | ||||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||||
Effect on pre-tax profit/(loss) of a 10% increase in LME | ₨ (1,295) | $ (17) | ₨ (874) | |||||||
[1]The constituents of ‘total cash’ for the purpose of capital management disclosure includes only those amounts of restricted funds that are corresponding to liabilities (e.g. margin money deposits). Consequently, restricted funds of ₹ 6,352 million and ₹ 6,900 million ($ 91 million) as at March 31, 2021 and March 31, 2022 respectively have been excluded from ‘total cash’ in the capital management disclosures. (Refer Notes 17, 19 and 20).[2]Additionally, Non-current bank deposits of ₹ 1,107 million and ₹ 2,017 million ($ 27 million) as at March 31, 2021 and March 31, 2022 respectively have been included to form part of ‘total cash’ in the capital management disclosures. |
Financial Instrument - Changes
Financial Instrument - Changes in Value of the Group's Commodity Financial Instruments (Detail) - Copper sector [member] ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2022 USD ($) | |
Disclosure of detailed information about financial instruments [line items] | ||||
Total exposure | ₨ (8,304) | ₨ (10,016) | $ (109) | |
Effect on pre-tax profit/(loss) of a 10% increase in the LME | (830) | $ (11) | (1,002) | |
Effect on pre-tax equity of a 10% increase in the LME | ₨ 0 | $ 0 | ₨ 0 |
Financial Instruments - Schedul
Financial Instruments - Schedule of Contractual Undiscounted Cash Obligations (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [line items] | |||
Acceptances | ₨ 111,654 | ₨ 84,201 | |
Lease liability | 4,740 | 6,411 | |
Trade and other payables | 287,064 | 206,661 | |
Borrowings | 619,951 | 727,285 | |
Derivative financial liabilities | 5,365 | 3,550 | |
Financial liabilities | 1,028,774 | $ 13,560 | 1,028,108 |
Not later than one year [member] | |||
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [line items] | |||
Acceptances | 111,654 | 84,201 | |
Lease liability | 3,236 | 4,808 | |
Trade and other payables | 275,553 | 195,508 | |
Borrowings | 190,479 | 234,645 | |
Derivative financial liabilities | 5,308 | 2,786 | |
Financial liabilities | 586,230 | 7,727 | 521,948 |
Later than one year and not later than three years [member] | |||
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [line items] | |||
Lease liability | 1,131 | 601 | |
Trade and other payables | 11,511 | 11,153 | |
Borrowings | 181,905 | 220,879 | |
Derivative financial liabilities | 57 | 764 | |
Financial liabilities | 194,604 | 2,565 | 233,397 |
Later than three years and not later than five years [member] | |||
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [line items] | |||
Lease liability | 86 | 220 | |
Trade and other payables | 0 | 0 | |
Borrowings | 131,026 | 116,726 | |
Financial liabilities | 131,112 | 1,728 | 116,946 |
Later than five years [member] | |||
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [line items] | |||
Lease liability | 287 | 782 | |
Borrowings | 116,541 | 155,035 | |
Financial liabilities | ₨ 116,828 | $ 1,540 | ₨ 155,817 |
Financial Instruments - Summa_6
Financial Instruments - Summary of Funding Facilities (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about financial instruments [abstract] | |||
Total facility | ₨ 811,810 | $ 10,700 | ₨ 727,522 |
Drawn | 642,266 | 8,465 | 562,322 |
Un drawn | ₨ 169,545 | $ 2,235 | ₨ 165,200 |
Financial Instruments - Summa_7
Financial Instruments - Summary of Exposure to Currency Risk (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | ₨ 295,617 | $ 3,898 | ₨ 225,245 |
Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 583,558 | 7,692 | 538,647 |
Financial liabilities | 942,885 | 12,428 | 881,593 |
Currency risk [member] | India, Rupees | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 391,701 | 5,163 | 402,393 |
Financial liabilities | 646,234 | 8,518 | 636,589 |
Currency risk [member] | United States of America, Dollars | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 178,857 | 2,357 | 128,023 |
Financial liabilities | 264,636 | 3,488 | 219,817 |
Currency risk [member] | Other Currencies [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 13,000 | 172 | 8,231 |
Financial liabilities | ₨ 32,015 | $ 422 | ₨ 25,187 |
Financial Instrument - Function
Financial Instrument - Functional Currencies of Respective Entities on Pre-tax Profit/ (Loss) and Pre-tax Equity (Detail) - Currency risk [member] ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
United States of America, Dollars | |||
Disclosure of detailed information about financial instruments [line items] | |||
Effect on pre-tax profit/(loss) of a 10% strengthening in currency | ₨ 9,116 | $ 120 | ₨ 11,325 |
India, Rupees | |||
Disclosure of detailed information about financial instruments [line items] | |||
Effect on pre-tax profit/(loss) of a 10% strengthening in currency | ₨ (4,522) | $ (60) | ₨ (3,072) |
Financial Instruments - Exposur
Financial Instruments - Exposure of the Group's Financial Assets/Liabilities to Interest Rate Risk (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities | ₨ 295,617 | $ 3,898 | ₨ 225,245 |
Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 583,558 | 7,692 | 895,824 |
Financial liabilities | 942,885 | 12,428 | 881,593 |
Floating interest rate [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 91,124 | 1,201 | 312,971 |
Financial liabilities | 355,778 | 4,689 | 322,843 |
Fixed interest rate [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 245,756 | 3,239 | 374,148 |
Financial liabilities | 299,870 | 3,952 | 329,629 |
Non interest bearing [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets | 246,679 | 3,252 | 208,705 |
Financial liabilities | ₨ 287,237 | $ 3,787 | ₨ 229,121 |
Financial Instruments - Analysi
Financial Instruments - Analysis of Movements in Interest Rates (Detail) - Interest rate risk [member] ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
0.50% increase in interest rate [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Borrowings interest rate | 0.50% | 0.50% | |
Increase in interest expense due to potential increase in interest rate | ₨ (1,323) | $ (17) | ₨ (1,048) |
1.00% increase in interest rate [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Borrowings interest rate | 1% | 1% | |
Increase in interest expense due to potential increase in interest rate | ₨ (2,647) | $ (35) | (2,095) |
2.00% increase in interest rate [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Borrowings interest rate | 2% | 2% | |
Increase in interest expense due to potential increase in interest rate | ₨ (5,293) | $ (70) | ₨ (4,191) |
Financial Instrument - Summary
Financial Instrument - Summary of Year End Trade and Other Receivable (Detail) - Credit risk [member] ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade and other receivable | ₨ 239,891 | $ 3,162 | ₨ 195,700 |
Financial assets neither past due nor impaired [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade and other receivable | 158,314 | 2,087 | 134,386 |
Financial assets past due but not impaired [member] | Not later than one month [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade and other receivable | 21,085 | 278 | 6,116 |
Financial assets past due but not impaired [member] | Later than one month and not later than three months [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade and other receivable | 3,694 | 49 | 2,763 |
Financial assets past due but not impaired [member] | Later than three months and not later than one year [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade and other receivable | 3,904 | 51 | 8,419 |
Financial assets past due but not impaired [member] | Later than one year [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade and other receivable | ₨ 52,894 | $ 697 | ₨ 44,016 |
Financial Instruments - Summa_8
Financial Instruments - Summary of Movement in Allowance for Financial Assets Trade and Other Receivable (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
Disclosure of detailed information about financial instruments [abstract] | |||
Beginning balance | ₨ 15,333 | $ 202 | ₨ 13,050 |
Allowance made during the year | 2,101 | 28 | 2,969 |
Reversals during the year | (1) | 0 | (592) |
Exploration cost written off | 22 | ||
Foreign Exchange difference | 140 | 2 | (116) |
Ending balance | ₨ 17,573 | $ 232 | ₨ 15,333 |
Financial Instrument - Summar_2
Financial Instrument - Summary of Fair Value of Derivative Positions Recorded Under Derivative Financial Assets and Derivative Financial Liabilities (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | |||
Current derivative financial assets | ₨ 2,580 | $ 34 | ₨ 701 |
Current derivative financial liabilities | 5,308 | 70 | 2,786 |
Nonurrent derivative financial liabilities | 57 | 1 | 764 |
Derivative financial assets | 2,580 | 34 | 701 |
Derivative financial liabilities | 5,365 | 71 | 3,551 |
Cash flow hedges [member] | Commodity contracts [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Current derivative financial assets | 2,320 | 31 | 27 |
Current derivative financial liabilities | 2,064 | 27 | 550 |
Cash flow hedges [member] | Interest Rate Swaps [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Current derivative financial assets | 10 | 0 | |
Current derivative financial liabilities | 50 | ||
Nonurrent derivative financial liabilities | 51 | ||
Fair value hedges [member] | Commodity contracts [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Current derivative financial assets | 112 | 1 | 406 |
Current derivative financial liabilities | 650 | 9 | 91 |
Fair value hedges [member] | Forward foreign currency contracts [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Current derivative financial assets | 37 | 0 | 139 |
Current derivative financial liabilities | 1,240 | 16 | 1,163 |
Nonurrent derivative financial liabilities | 57 | 1 | 713 |
Non-qualifying hedges [member] | Commodity contracts [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Current derivative financial assets | 18 | 1 | 5 |
Current derivative financial liabilities | 102 | 1 | 22 |
Non-qualifying hedges [member] | Forward foreign currency contracts [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Current derivative financial assets | 83 | 1 | 124 |
Current derivative financial liabilities | ₨ 1,252 | $ 17 | ₨ 911 |
Provisions - Summary of Current
Provisions - Summary of Current and Non Current Provisions (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2021 USD ($) | Mar. 31, 2020 INR (₨) |
Disclosure of total provisions [line items] | |||||
Non-Current | ₨ 32,282 | $ 425 | ₨ 29,854 | ||
Current | 3,150 | 42 | 2,378 | ||
Total | 35,432 | 467 | 32,232 | ||
Employee benefits provision [member] | |||||
Disclosure of total provisions [line items] | |||||
Non-Current | 104 | 1 | 117 | ||
Current | 1,774 | 24 | 1,545 | ||
Total | 1,878 | 25 | 1,662 | ||
Provision for restoration, rehabilitation and environmental costs [member] | |||||
Disclosure of total provisions [line items] | |||||
Non-Current | 32,178 | 424 | 29,737 | ||
Current | 278 | 4 | 275 | ||
Total | 32,456 | 428 | 30,012 | $ 396 | ₨ 26,760 |
Miscellaneous other provisions [member] | |||||
Disclosure of total provisions [line items] | |||||
Current | 1,098 | 14 | 558 | ||
Total | ₨ 1,098 | $ 14 | ₨ 558 | $ 7 | ₨ 541 |
Provisions - Summary of Provisi
Provisions - Summary of Provisions (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
Disclosure of total provisions [line items] | |||
Beginning balance | ₨ 32,232 | ||
Ending balance | 35,432 | $ 467 | ₨ 32,232 |
Provision for restoration and rehabilitation and environmental costs [member] | |||
Disclosure of total provisions [line items] | |||
Beginning balance | 30,012 | 396 | 26,760 |
Additions | 350 | 5 | 2,701 |
Utilised | (45) | (1) | (24) |
Unused amounts reversed | (243) | ||
Unwinding of discount | 777 | 10 | 721 |
Revision in estimates | 539 | 7 | (122) |
Exchange differences | 823 | 11 | 219 |
Ending balance | 32,456 | 428 | 30,012 |
Miscellaneous other provisions [member] | |||
Disclosure of total provisions [line items] | |||
Beginning balance | 558 | 7 | 541 |
Additions | 540 | 7 | 17 |
Ending balance | ₨ 1,098 | $ 14 | ₨ 558 |
Provisions - Summary of Provi_2
Provisions - Summary of Provisions (Parenthetical) (Detail) - Provision for restoration and rehabilitation and environmental costs [member] | 12 Months Ended |
Mar. 31, 2022 | |
Bottom of range [member] | |
Disclosure of other provisions [line items] | |
Discount rate on provision for restoration, rehabilitation and environmental liabilities | 2% |
Estimate period for cost expected to be incurred | 1 year |
Top of range [member] | |
Disclosure of other provisions [line items] | |
Discount rate on provision for restoration, rehabilitation and environmental liabilities | 10% |
Estimate period for cost expected to be incurred | 30 years |
Retirement benefits - Additiona
Retirement benefits - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) Funds | Mar. 31, 2022 USD ($) Funds | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | Mar. 31, 2022 USD ($) | |
Disclosure of defined contribution and benefit schemes [line items] | |||||
Contribution to defined contribution plans | ₨ 1,386 | $ 19 | ₨ 1,190 | ₨ 840 | |
Percentage of employee and employer contributions to Provident Fund as per Indian Provident Fund Act | 12% | 12% | 12% | 12% | |
Percentage of employer contribution to family pension plan | 8.33% | 8.33% | 8.33% | 8.33% | |
Remeasurement (loss)/gain on post-retirement benefit recorded in OCI | ₨ (181) | $ (2) | ₨ (5) | ₨ (2,118) | |
Other employees [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Actual return on plan assets | ₨ 251 | $ 3 | ₨ 248 | ₨ 289 | |
Weighted average duration of the defined benefit obligation | 13 years 3 months 18 days | 13 years 3 months 18 days | 14 years | 14 years 3 months 18 days | |
Expected contribution to defined benefit obligations in 2021 | ₨ 540 | $ 7 | |||
BMM BALCO Post-retirement Medical Benefit Plans [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Post retirement medical benefits | 997 | ₨ 861 | $ 13 | ||
Remeasurement (loss)/gain on post-retirement benefit recorded in OCI | 67 | 1 | (23) | ₨ 150 | |
Current service cost of defined benefit obligation | 12 | 0 | 10 | 13 | |
BMM BALCO Post-retirement Medical Benefit Plans [member] | Finance costs [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Post retirement medical benefits | 87 | 64 | 61 | $ 1 | |
BALCO, HZL, SRL and SMCL Provident Trust Fund [Member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Contribution to Defined benefit plan | 471 | 6 | 482 | 471 | |
Remeasurement (loss)/gain on post-retirement benefit recorded in OCI | ₨ 55 | ₨ 1,524 | |||
Black Mountain (Pty) Limited, South Africa Pension and Provident Funds [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Number of retirement funds | 2 | 2 | |||
Black Mountain (Pty) Limited, South Africa Pension and Provident Funds [member] | Employees up to supervisor grade [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Percentage of employer contribution to defined contribution fund | 10.50% | 10.50% | |||
Black Mountain (Pty) Limited, South Africa Pension and Provident Funds [member] | Employees other than Supervisors [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Percentage of employer contribution to defined contribution fund | 15% | 15% | |||
Skorpion Zinc Provident Fund [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Percentage of employer contribution to defined contribution fund | 9% | 9% | |||
Percentage of employee contribution to defined contribution fund | 7% | 7% | |||
Description of type of plan | The Skorpion Zinc Provident Fund is a defined contribution fund and is compulsory to all full time employees under the age of 60. | The Skorpion Zinc Provident Fund is a defined contribution fund and is compulsory to all full time employees under the age of 60. | |||
Description of nature of benefits provided by plan | The Fund provides disability cover which is equal to the member’s fund credit and a death cover of 2 times annual salary in the event of death before retirement. | The Fund provides disability cover which is equal to the member’s fund credit and a death cover of 2 times annual salary in the event of death before retirement. | |||
Skorpion Zinc Provident Fund [member] | Top of range [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Percentage of additional contribution to defined contribution fund | 12% | 12% | |||
AUSTRALIA | Employees under industrial agreement [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Percentage of employer contributions to the superannuation scheme | 10% | 10% | 9.50% | ||
AUSTRALIA | Other employees [member] | |||||
Disclosure of defined contribution and benefit schemes [line items] | |||||
Percentage of employer contributions to the superannuation scheme | 13% | 13% | 12.50% |
Retirement benefits - Schedule
Retirement benefits - Schedule of Defined Contribution Plans (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of defined contribution plans [abstract] | ||||
Employer's contribution to recognised provident fund and family pension fund | ₨ 1,111 | $ 15 | ₨ 978 | ₨ 630 |
Employer's contribution to superannuation | 230 | 3 | 208 | 210 |
Employer's contribution to National Pension Scheme | 45 | 1 | 4 | |
Contribution to defined contribution plans | ₨ 1,386 | $ 19 | ₨ 1,190 | ₨ 840 |
Retirement benefits - Summary
Retirement benefits - Summary of Present Value of Obligation and the Fair Value of Plan Assets of the Trust (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) |
Gratuity Plans [member] | ||||
Disclosure of defined contribution and benefit schemes [line items] | ||||
Fair value of plan assets | ₨ 4,411 | $ 58 | ₨ 4,009 | ₨ 4,418 |
Present value of defined benefit obligations | (6,004) | (79) | (5,748) | (6,310) |
Net liability arising from defined benefit obligations | (1,593) | (21) | (1,739) | (1,892) |
BALCO, HZL, SRL and SMCL Provident Trust Fund [Member] | ||||
Disclosure of defined contribution and benefit schemes [line items] | ||||
Fair value of plan assets | 25,317 | 334 | 24,213 | 23,437 |
Present value of defined benefit obligations | (25,102) | (331) | (23,751) | (22,990) |
Net liability arising from defined benefit obligations |
Retirement benefits - Summary o
Retirement benefits - Summary of Asset Allocation of Plan Assets (Detail) - BALCO, HZL, SRL and SMCL Provident Trust Fund [Member] | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Government Securities [member] | |||
Disclosure of defined contribution and benefit schemes [line items] | |||
Plan asset allocation percentage | 58.62% | 63.19% | 61.68% |
Debentures and bonds [member] | |||
Disclosure of defined contribution and benefit schemes [line items] | |||
Plan asset allocation percentage | 35.54% | 34.36% | 36.67% |
Equity [member] | |||
Disclosure of defined contribution and benefit schemes [line items] | |||
Plan asset allocation percentage | 4.64% | 1.63% | 1.65% |
Money Market Instruments [Member] | |||
Disclosure of defined contribution and benefit schemes [line items] | |||
Plan asset allocation percentage | 1.20% | 0.82% |
Retirement benefits - Summary_2
Retirement benefits - Summary of Actuarial Assumptions Used to Determine Present Value of Other Post-employment benefit plan obligation (Detail) | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of actuarial assumptions [line items] | |||
Discount rate | 7.20% | 6.90% | 6.80% |
Mortality table | IALM (2012-14) | IALM (2012-14) | IALM (2012-14) |
Bottom of range [member] | |||
Disclosure of actuarial assumptions [line items] | |||
Expected rate of increase in compensation level of covered employees | 2% | 2% | 2% |
Top of range [member] | |||
Disclosure of actuarial assumptions [line items] | |||
Expected rate of increase in compensation level of covered employees | 15% | 15% | 15% |
Retirement benefits - Summary_3
Retirement benefits - Summary Of Other Post-Employment Benefit Plan Amounts Recognised in Consolidated Statement of Profit or Loss (Detail) - Defined benefit pension plans [member] ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of defined contribution and benefit schemes [line items] | ||||
Current service cost | ₨ 390 | $ 5 | ₨ 395 | ₨ 411 |
Net Interest cost | 124 | 2 | 130 | 151 |
Total charge to consolidated statements of profit or loss | ₨ 514 | $ 7 | ₨ 525 | ₨ 562 |
Retirement benefits - Summary_4
Retirement benefits - Summary of Defined Benefit Schemes Amounts Recognised In Statement of Comprehensive Income (Detail) - Defined benefit pension plans [member] ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Remeasurements of the net defined benefit obligation:- | ||||
Actuarial losses /(gains) arising from changes in financial assumptions | ₨ 172 | $ 2 | ₨ 11 | ₨ 283 |
Actuarial losses/(gains) arising from experience adjustments | (47) | (1) | (104) | 163 |
Actuarial (gains)/losses arising from changes in demographic assumptions | (29) | 0 | (2) | (14) |
Actuarial losses on Plan assets (excluding amounts included in net interest cost) | 18 | 0 | 58 | 12 |
Remeasurement of the net defined benefit liability | ₨ 114 | $ 1 | ₨ (37) | ₨ 444 |
Retirement benefits - Summary_5
Retirement benefits - Summary of Movement Of Present Value Other Post-Employment Benefit Plan Obligation (Detail) - Present value of defined benefit obligation [member] ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of net defined benefit liability (asset) [line items] | ||||
Beginning balance | ₨ (5,748) | $ (76) | ₨ (6,310) | ₨ (5,890) |
Acquired in business combination | (177) | |||
Current service cost | (390) | (5) | (395) | (411) |
Benefits paid | 623 | 8 | 1,475 | 875 |
Interest cost of scheme liabilities | (393) | (5) | (436) | (452) |
Actuarial (losses)/gains arising from change in assumptions | (96) | (1) | 95 | (432) |
Ending balance | ₨ (6,004) | $ (79) | ₨ (5,748) | ₨ (6,310) |
Retirement benefits - Summary_6
Retirement benefits - Summary of Movement in Fair Value of Other Post-Employment Benefit Plan Assets (Detail) - Plan assets [member] ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of fair value of plan assets [line items] | ||||
Beginning balance | ₨ 4,009 | $ 53 | ₨ 4,418 | ₨ 3,868 |
Acquired in business combination | 160 | |||
Contributions received | 693 | 9 | 184 | 859 |
Benefits paid | (542) | (7) | (1,001) | (598) |
Remeasurement loss arising from return on plan assets | (18) | 0 | (58) | (12) |
Interest income | 269 | 3 | 306 | 301 |
Ending balance | ₨ 4,411 | $ 58 | ₨ 4,009 | ₨ 4,418 |
Retirement benefits - Summary_7
Retirement benefits - Summary of Sensitivity Analysis for Actuarial Assumptions (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Actuarial assumption of discount rates [member] | |||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |||
Increase by 0.50% | ₨ (229) | $ (3) | ₨ (213) |
Decrease by 0.50% | 248 | 3 | 231 |
Actuarial assumption of expected rates of salary increases [member] | |||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |||
Increase by 0.50% | 217 | 3 | 208 |
Decrease by 0.50% | ₨ (209) | $ (3) | ₨ (199) |
Retirement benefits - Summary_8
Retirement benefits - Summary of Sensitivity Analysis for Actuarial Assumptions (Parenthetical) (Detail) | Mar. 31, 2022 |
Actuarial assumption of discount rates [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase in assumption | 0.50% |
Decrease in assumption | 0.50% |
Actuarial assumption of expected rates of salary increases [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase in assumption | 0.50% |
Decrease in assumption | 0.50% |
Employee Cost - Summary Of Empl
Employee Cost - Summary Of Employee Cost (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of other notes [abstract] | ||||
Salaries and wages | ₨ 30,632 | $ 404 | ₨ 31,260 | ₨ 30,217 |
Contributions to provident and other funds | 2,259 | 30 | 2,077 | 1,735 |
Share based payments | 785 | 10 | 597 | 727 |
JV Employee cost allocation | (5,557) | (73) | (5,302) | (5,759) |
Employee Cost | ₨ 28,119 | $ 371 | ₨ 28,632 | ₨ 26,920 |
Share-Based Compensation Plan_2
Share-Based Compensation Plans - Additional Information (Detail) ₨ / shares in Units, ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) yr ₨ / shares | Mar. 31, 2022 USD ($) yr | Mar. 31, 2021 INR (₨) ₨ / shares | Mar. 31, 2020 INR (₨) | Mar. 31, 2022 USD ($) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Expense recognised on account of cash settled share based plan | ₨ 138 | $ 2 | ₨ 63 | ₨ 5 | |
Share based compensation liability | ₨ 192 | 72 | $ 3 | ||
Vedanta Limited Employee Stock Option Scheme 2016 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Exercise price of awards | ₨ 1 | ||||
Performance period of awards | performance period is three years, with no re-testing being allowed. | performance period is three years, with no re-testing being allowed. | |||
Share-based payment transactions expense recognized | ₨ 432 | $ 6 | ₨ 575 | 754 | |
Weighted average share price at date of exercise of stock options | ₨ 339.32 | ₨ 131.08 | |||
Weighted average remaining contractual life of Options | 1 year 7 months 13 days | 1 year 7 months 13 days | 2 years 10 days | ||
CIESOP [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Exercise price of awards | ₨ 0 | ||||
Performance period of awards | 3 years from the date of grant | 3 years from the date of grant | |||
Exercise period | yr | 7 | 7 | |||
Weighted average share price at date of exercise of stock options | ₨ 375.89 | ||||
Weighted average remaining contractual life of Options | 3 months 21 days | 3 months 21 days | 9 months 18 days | ||
Employee share option plan of Vedanta Resources Plc [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Expense recognised on account of cash settled share based plan | ₨ 235 | $ 3 | ₨ 221 | ₨ 221 | |
Share based compensation liability | 1,125 | 860 | $ 15 | ||
Expense recognised on account of equity settled share based plan | 805 | 11 | 859 | ||
Share based payments capitalised | ₨ 20 | $ 0 | ₨ 262 |
Share-Based Compensation Plan_3
Share-Based Compensation Plans - Schedule of Activity in Employee Stock Option Plan (ESOS) (Detail) - Vedanta Limited Employee Stock Option Scheme 2016 [member] - shares | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Options outstanding, Beginning balance | 39,199,766 | 38,374,799 |
Options granted during the year | 12,948,173 | 13,732,001 |
Options forfeited/lapsed during the year | 12,708,606 | 10,710,350 |
Options exercised during the year | 3,275,389 | 2,196,684 |
Options outstanding, Ending balance | 36,163,944 | 39,199,766 |
Options exercisable | 323,015 | 376,940 |
December 15, 2019 - June 14, 2020 [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | December 15, 2019-June 14, 2020 | |
Options outstanding, Beginning balance | 1,068,516 | |
Options forfeited/lapsed during the year | 8,648 | |
Options exercised during the year | 1,059,868 | |
September 1, 2020 - February 28, 2021 [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | September 1, 2020-February 28, 2021 | September 1, 2020-February 28, 2021 |
Options outstanding, Beginning balance | 376,940 | 7,027,925 |
Options forfeited/lapsed during the year | 23,457 | 5,514,169 |
Options exercised during the year | 353,483 | 1,136,816 |
Options outstanding, Ending balance | 376,940 | |
Options exercisable | 376,940 | |
October 16, 2020 - April 15, 2021 [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | October 16, 2020-April 15, 2021 | |
Options outstanding, Beginning balance | 11,126 | |
Options forfeited/lapsed during the year | 11,126 | |
November 1, 2020 - April 30, 2021 [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | November 1, 2021-April 30, 2022 | November 1, 2020-April 30, 2021 |
Options outstanding, Beginning balance | 9,912,240 | 11,420,046 |
Options forfeited/lapsed during the year | 6,906,444 | 1,507,806 |
Options exercised during the year | 2,682,781 | |
Options outstanding, Ending balance | 323,015 | 9,912,240 |
Options exercisable | 323,015 | |
November 1, 2020 - April 30, 2021 (Cash settled) [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | Cash settled | Cash settled |
Options outstanding, Beginning balance | 728,856 | 1,069,156 |
Options forfeited/lapsed during the year | 489,731 | 340,300 |
Options exercised during the year | 239,125 | |
Options outstanding, Ending balance | 728,856 | |
November 29, 2022-May 28, 2023[member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | November 29, 2022-May 28, 2023 | November 29, 2022-May 28, 2023 |
Options outstanding, Beginning balance | 13,572,278 | 15,881,330 |
Options forfeited/lapsed during the year | 2,090,560 | 2,309,052 |
Options outstanding, Ending balance | 11,481,718 | 13,572,278 |
November 29, 2022-May 28, 2023 (Cash Settled) [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | Cash settled | Cash settled |
Options outstanding, Beginning balance | 877,451 | 1,896,700 |
Options forfeited/lapsed during the year | 197,050 | 1,019,249 |
Options outstanding, Ending balance | 680,401 | 877,451 |
November 06, 2023-May 05, 2024 [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | November 6, 2023-May 5, 2024 | November 06, 2023-May 5, 2024 |
Options outstanding, Beginning balance | 12,711,112 | |
Options granted during the year | 12,711,112 | |
Options forfeited/lapsed during the year | 1,903,591 | |
Options outstanding, Ending balance | 10,807,521 | 12,711,112 |
November 06, 2023-May 05, 2024 (Cash settled) [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | Cash settled | Cash settled |
Options outstanding, Beginning balance | 1,020,889 | |
Options granted during the year | 1,020,889 | |
Options forfeited/lapsed during the year | 295,966 | |
Options outstanding, Ending balance | 724,923 | 1,020,889 |
November 01, 2024 - April 30, 2025 [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | November 1, 2024 - April 30, 2025 | |
Options granted during the year | 12,083,636 | |
Options forfeited/lapsed during the year | 779,037 | |
Options outstanding, Ending balance | 11,304,599 | |
November 01, 2024 - April 30, 2025 (Cash settled) [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Excerise Period | Cash settled | |
Options granted during the year | 864,537 | |
Options forfeited/lapsed during the year | 22,770 | |
Options outstanding, Ending balance | 841,767 |
Share-Based Compensation Plan_4
Share-Based Compensation Plans - Summary of Assumptions Used in Calculations of Charge in Respect of Employee Stock Option Awards Granted (Detail) - Vedanta Limited Employee Stock Option Scheme 2016 [member] | 12 Months Ended | |
Mar. 31, 2022 shares ₨ / shares | Mar. 31, 2021 shares ₨ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of options | shares | 12,948,173 | 13,732,001 |
Exercise price, share options granted | ₨ / shares | ₨ 1 | ₨ 1 |
Share Price at the date of grant | ₨ / shares | ₨ 302.15 | ₨ 228.75 |
Contractual Life | 3 years | 2 years 7 months |
Expected Volatility | 49.67% | 49.28% |
Expected option life | 3 years | 2 years 7 months |
Expected dividends | 6.80% | 6.80% |
Risk free interest rate | 5.02% | 4.84% |
Expected annual forfeitures | 10% | 10% |
Fair value per option granted | ₨ / shares | ₨ 193.97 | ₨ 150.73 |
November 1, 2021-April 30, 2022 (Cash settled) [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of options | shares | 864,537 | 1,020,889 |
November 1, 2021 - April 30, 2022 [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of options | shares | 12,083,636 | 12,711,112 |
Share-Based Compensation Plan_5
Share-Based Compensation Plans - Schedule of Activity in Employee Stock Option Plan (Detail) - CIESOP [member] | 12 Months Ended | |
Mar. 31, 2022 shares ₨ / shares | Mar. 31, 2021 shares ₨ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Options outstanding, Beginning balance | 3,315,174 | 5,341,740 |
Granted during the year | ||
Expired during the year | (1,082,229) | |
Exercised during the year | (483,085) | |
Forfeited / cancelled during the year | (1,794,448) | (944,337) |
Options outstanding, Ending balance | 1,037,641 | 3,315,174 |
Exercisable at the end of the year | 1,037,641 | 3,315,174 |
Outstanding at the beginning of the year | ₨ / shares | ₨ 287.3 | ₨ 288.2 |
Expired during the year | ₨ / shares | 291.3 | |
Exercised during the year | ₨ / shares | 286.85 | |
Forfeited / cancelled during the year | ₨ / shares | 287.7 | 288 |
Outstanding at the end of the year | ₨ / shares | 286.85 | 287.3 |
Exercisable at the end of the year | ₨ / shares | ₨ 286.85 | ₨ 287.3 |
Share-Based Compensation Plan_6
Share-Based Compensation Plans - Schedule of Exercise Price Range for Employee Stock Option Plans (Detail) - CIESOP [member] - ₨ / shares | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise price | ₨ 286.85 | ||
Weighted average remaining contractual life of Options | 3 months 21 days | 9 months 18 days | |
Weighted average exercise price | ₨ 286.85 | ₨ 287.3 | ₨ 288.2 |
Bottom of range [member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise price | 286.85 | ||
Top of range [member] | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Range of exercise price | ₨ 287.75 |
Shareholders Equity - Schedule
Shareholders Equity - Schedule of Classes of Share Capital (Detail) ₨ in Millions, shares in Millions, $ in Millions | Mar. 31, 2022 INR (₨) shares | Mar. 31, 2022 USD ($) shares | Mar. 31, 2021 INR (₨) shares | |
Statement [LineItems] | ||||
Equity shares | [1],[2],[3],[4] | ₨ 3,718 | $ 49 | ₨ 3,718 |
Number of shares issued | [1],[2],[3],[4] | 3,718 | 3,718 | 3,718 |
Common stock [member] | ||||
Statement [LineItems] | ||||
Authorised share capital | [3] | 44,020 | 44,020 | 44,020 |
Authorized share capital amount | [3] | ₨ 44,020 | $ 580 | ₨ 44,020 |
Preference shares [member] | ||||
Statement [LineItems] | ||||
Authorised share capital | 3,010 | 3,010 | 3,010 | |
Authorized share capital amount | ₨ 30,100 | $ 397 | ₨ 30,100 | |
[1]Includes 12,193,159 equity shares as at March 31, 2021 and 8,693,406 equity shares as at March 31, 2022 held by Vedanta Limited ESOS Trust.[2]Includes 308,232 equity shares as at March 31, 2021 and 305,832 equity shares as at March 31, 2022 kept in abeyance. These shares are not part of listed equity capital and pending allotment as they are sub-judice.[3]The Company has one class of equity shares having a par value of ₹ 1 per share. Each shareholder is eligible for one vote per share held and dividend as and when declared by the Company.[4]This includes 160,903,244 equity shares in the form of 40,225,811 American Depository Shares (ADS) as at March 31, 2021. The American Depository Shares (ADS) of the Company have been delisted from NYSE effective close of trading on NYSE on November 8, 2021. Refer Group overview section for detailed note. |
Shareholders Equity - Schedul_2
Shareholders Equity - Schedule of Classes of Share Capital (Parenthetical) (Detail) - ₨ / shares | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Statement [LineItems] | |||
Par value | ₨ 1 | ₨ 1 | ₨ 1 |
Common stock [member] | |||
Statement [LineItems] | |||
Par value | 1 | 1 | |
Preference shares [member] | |||
Statement [LineItems] | |||
Par value | ₨ 10 | ₨ 10 |
Shareholders Equity - Additiona
Shareholders Equity - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2022 INR (₨) Vote shares | Mar. 31, 2022 USD ($) shares | Mar. 31, 2021 INR (₨) shares | |
Number of votes for each share held | Vote | 1 | ||
Number of shares issued | 160,903,244 | ||
Dividend distribution, threshold percentage of paid-up capital | 10% | ||
General reserve | ₨ 160,950 | $ 2,121 | ₨ 160,950 |
Minimum obligatory reserve as a percentage of outstanding debentures | 25% | ||
Retained earnings | ₨ 316,229 | $ 4,168 | ₨ 274,231 |
Vedanta Limited Employee Stock Option Scheme 2016 [member] | |||
Number of shares issued | 8,693,406 | 8,693,406 | 12,193,159 |
Sub-judice [member] | |||
Number of shares issued | 305,832 | 305,832 | 308,232 |
Debenture Redemption Reserve [member] | |||
Retained earnings | ₨ 0 | $ 0 | ₨ 5,835 |
Preference share redemption reserve [member] | |||
Retained earnings | 30,869 | 407 | |
Capital reserve [member] | |||
Retained earnings | ₨ 183,680 | $ 2,421 | ₨ 182,697 |
American depository shares [member] | |||
Number of shares issued | 40,225,811 |
Non-controlling Interests ('N_3
Non-controlling Interests ('NCI') and Joint Operations - Additional Information (Detail) | 12 Months Ended | ||||
Jul. 21, 2009 | Apr. 30, 2002 | Mar. 01, 2001 | Mar. 31, 2022 | Mar. 31, 2021 | |
Hindustan Zinc Limited (HZL) [member] | |||||
Disclosure of subsidiaries [line items] | |||||
NCIs holding economic interest | 64.90% | 26% | 35.08% | 35.08% | |
Bharat aluminium company limited [member] | |||||
Disclosure of subsidiaries [line items] | |||||
NCIs holding economic interest | 51% | 49% | 49% | ||
Black Mountain Mining (Proprietary) Limited [member] | |||||
Disclosure of subsidiaries [line items] | |||||
NCIs holding economic interest | 26% | 26% | |||
AvanStrate Inc. [member] | |||||
Disclosure of subsidiaries [line items] | |||||
NCIs holding economic interest | 48.37% | 48.37% | |||
Electrosteel Steels Limited [member] | |||||
Disclosure of subsidiaries [line items] | |||||
NCIs holding economic interest | 4.51% | 4.51% | |||
Facor Power Limited [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
NCIs holding economic interest | 10% | 10% |
Non-controlling Interests ('N_4
Non-controlling Interests ('NCI') and joint operations - Summarized Financial Information of Subsidiaries of the Group that have Material Non-controlling Interests (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | Mar. 31, 2022 USD ($) | |
Disclosure of subsidiaries [line items] | |||||
Current assets | ₨ 685,904 | ₨ 562,345 | $ 9,041 | ||
Non-current assets | 1,243,603 | 1,208,902 | 16,391 | ||
Current liabilities | 654,720 | 589,149 | 8,630 | ||
Non-current liabilities | 467,665 | 448,049 | 6,165 | ||
Equity attributable to equity holders of the Parent | 635,766 | 584,597 | 8,380 | ||
Non-controlling interests | 171,356 | 149,452 | 2,257 | ||
Revenue | 1,311,917 | $ 17,292 | 868,630 | ₨ 835,446 | |
Expenses | (858,956) | (11,321) | (595,015) | (625,343) | |
(Loss)/Profit for the year | 257,079 | 3,388 | 146,990 | (42,100) | |
Profit / (loss) attributable to non-controlling interests | 49,126 | 648 | 34,107 | 19,148 | |
Profit / (loss) for the year | 257,079 | 3,388 | 146,990 | (42,100) | |
Total other comprehensive income for the year, net of income tax | 8,837 | 117 | 2,062 | 7,018 | |
Total comprehensive income / (loss) attributable to the equity holders of the Parent | 216,362 | 2,852 | 114,005 | (52,950) | |
Total comprehensive income / (loss) attributable to non-controlling interests | 49,554 | 653 | 35,047 | 17,868 | |
Total comprehensive income / (loss) during the year | 265,916 | 3,505 | 149,052 | (35,082) | |
Net cash inflow / (outflow) from operating activities | 282,819 | 3,727 | 295,952 | 182,393 | |
Net cash (outflow) / inflow from investing activities | (36,608) | (482) | (167,358) | (116,866) | |
Net cash (outflow) / inflow from financing activities | (208,166) | (2,744) | (131,371) | (87,356) | |
Hindustan Zinc Limited (HZL) [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Current assets | 239,851 | 245,694 | 3,161 | ||
Non-current assets | 199,444 | 203,262 | 2,629 | ||
Current liabilities | 59,544 | 77,512 | 785 | ||
Non-current liabilities | 34,002 | 45,043 | 448 | ||
Equity attributable to equity holders of the Parent | 224,460 | 211,900 | 2,958 | ||
Non-controlling interests | 121,289 | 114,501 | 1,599 | ||
Revenue | 287,896 | 3,795 | 220,704 | 183,321 | |
Expenses | (191,929) | (2,530) | (141,492) | (115,651) | |
(Loss)/Profit for the year | 95,967 | 1,265 | 79,212 | 67,670 | |
Profit / (loss) attributable to equity holders of the Parent | 62,302 | 821 | 51,424 | 43,933 | |
Profit / (loss) attributable to non-controlling interests | 33,665 | 444 | 27,788 | 23,737 | |
Profit / (loss) for the year | 95,967 | 1,265 | 79,212 | 67,670 | |
Other comprehensive income / (loss) attributable to the equity holders of the Parent | (366) | (5) | (28) | (649) | |
Other comprehensive income / (loss) attributable to non-controlling interests | (198) | (3) | (15) | (351) | |
Total other comprehensive income for the year, net of income tax | (564) | (8) | (43) | (1,000) | |
Total comprehensive income / (loss) attributable to the equity holders of the Parent | 61,936 | 816 | 51,396 | 43,284 | |
Total comprehensive income / (loss) attributable to non-controlling interests | 33,467 | 441 | 27,773 | 23,386 | |
Total comprehensive income / (loss) during the year | 95,403 | 1,257 | 79,169 | 66,670 | |
Dividends paid / payable to non-controlling interests, including dividend tax | (26,682) | (352) | (56,029) | ||
Net cash inflow / (outflow) from operating activities | 130,116 | 1,715 | 191,094 | 74,282 | |
Net cash (outflow) / inflow from investing activities | (874) | (12) | (111,459) | (36,247) | |
Net cash (outflow) / inflow from financing activities | (116,452) | (1,535) | (95,286) | (19,276) | |
Net cash (outflow) / inflow | 12,790 | 168 | (15,651) | 18,759 | |
Bharat aluminium company limited [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Current assets | 30,910 | 28,748 | 407 | ||
Non-current assets | 110,602 | 110,396 | 1,458 | ||
Current liabilities | 42,091 | 53,990 | 555 | ||
Non-current liabilities | 16,728 | 28,874 | 220 | ||
Equity attributable to equity holders of the Parent | 42,173 | 28,703 | 556 | ||
Non-controlling interests | 40,520 | 27,577 | 534 | ||
Revenue | 136,070 | 1,793 | 96,879 | 87,465 | |
Expenses | (109,491) | (1,443) | (86,221) | (89,262) | |
(Loss)/Profit for the year | 26,579 | 350 | 10,658 | (1,797) | |
Profit / (loss) attributable to equity holders of the Parent | 13,555 | 179 | 5,436 | (916) | |
Profit / (loss) attributable to non-controlling interests | 13,024 | 171 | 5,222 | (881) | |
Profit / (loss) for the year | 26,579 | 350 | 10,658 | (1,797) | |
Other comprehensive income / (loss) attributable to the equity holders of the Parent | (85) | (1) | (235) | 19 | |
Other comprehensive income / (loss) attributable to non-controlling interests | (81) | (1) | (225) | 18 | |
Total other comprehensive income for the year, net of income tax | (166) | (2) | (460) | 37 | |
Total comprehensive income / (loss) attributable to the equity holders of the Parent | 13,470 | 178 | 5,201 | (897) | |
Total comprehensive income / (loss) attributable to non-controlling interests | 12,943 | 171 | 4,997 | (863) | |
Total comprehensive income / (loss) during the year | 26,413 | 349 | 10,198 | (1,760) | |
Net cash inflow / (outflow) from operating activities | 36,602 | 482 | 13,996 | 1,069 | |
Net cash (outflow) / inflow from investing activities | (1,610) | (21) | (3,083) | (1,904) | |
Net cash (outflow) / inflow from financing activities | (31,714) | (418) | (11,463) | (886) | |
Net cash (outflow) / inflow | 3,278 | 43 | (550) | (1,721) | |
Other Subsidiaries [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Current assets | 40,911 | 41,604 | 539 | ||
Non-current assets | 151,829 | 134,990 | 2,001 | ||
Current liabilities | 42,333 | 37,575 | 558 | ||
Non-current liabilities | 81,169 | 77,778 | 1,070 | ||
Equity attributable to equity holders of the Parent | 64,092 | 59,236 | 846 | ||
Non-controlling interests | 9,547 | 7,374 | 124 | ||
Revenue | 115,584 | 1,523 | 77,202 | 65,667 | |
Expenses | (108,056) | (1,423) | (43,423) | (74,126) | |
(Loss)/Profit for the year | 7,528 | 100 | 33,779 | (8,459) | |
Profit / (loss) attributable to equity holders of the Parent | 5,091 | 67 | 32,682 | (4,751) | |
Profit / (loss) attributable to non-controlling interests | 2,437 | 33 | 1,097 | (3,708) | |
Profit / (loss) for the year | 7,528 | 100 | 33,779 | (8,459) | |
Other comprehensive income / (loss) attributable to the equity holders of the Parent | 1,373 | 18 | 2,866 | (2,102) | |
Other comprehensive income / (loss) attributable to non-controlling interests | 707 | 10 | 1,180 | (947) | |
Total other comprehensive income for the year, net of income tax | 2,080 | 28 | 4,046 | (3,049) | |
Total comprehensive income / (loss) attributable to the equity holders of the Parent | 6,464 | 85 | 35,548 | (6,853) | |
Total comprehensive income / (loss) attributable to non-controlling interests | 3,144 | 41 | 2,277 | (4,655) | |
Total comprehensive income / (loss) during the year | 9,608 | 126 | 37,825 | (11,508) | |
Net cash inflow / (outflow) from operating activities | 26,683 | 352 | 12,708 | 7,017 | |
Net cash (outflow) / inflow from investing activities | (21,947) | (289) | (5,337) | (6,204) | |
Net cash (outflow) / inflow from financing activities | (2,511) | (33) | (6,763) | (4,186) | |
Net cash (outflow) / inflow | 2,225 | 30 | 608 | (3,373) | |
Total Subsidiaries | |||||
Disclosure of subsidiaries [line items] | |||||
Current assets | 311,672 | 316,046 | 4,107 | ||
Non-current assets | 461,875 | 448,648 | 6,088 | ||
Current liabilities | 143,968 | 169,077 | 1,898 | ||
Non-current liabilities | 131,899 | 151,695 | 1,738 | ||
Equity attributable to equity holders of the Parent | 330,725 | 299,839 | 4,360 | ||
Non-controlling interests | 171,356 | 149,452 | $ 2,257 | ||
Revenue | 539,550 | 7,111 | 394,785 | 336,453 | |
Expenses | (409,476) | (5,396) | (271,136) | (279,039) | |
(Loss)/Profit for the year | 130,074 | 1,715 | 123,649 | 57,414 | |
Profit / (loss) attributable to equity holders of the Parent | 80,948 | 1,067 | 89,542 | 38,266 | |
Profit / (loss) attributable to non-controlling interests | 49,126 | 648 | 34,107 | 19,148 | |
Profit / (loss) for the year | 130,074 | 1,715 | 123,649 | 57,414 | |
Other comprehensive income / (loss) attributable to the equity holders of the Parent | 922 | 12 | 2,603 | (2,732) | |
Other comprehensive income / (loss) attributable to non-controlling interests | 428 | 6 | 940 | (1,280) | |
Total other comprehensive income for the year, net of income tax | 1,350 | 18 | 3,543 | (4,012) | |
Total comprehensive income / (loss) attributable to the equity holders of the Parent | 81,870 | 1,079 | 92,145 | 35,534 | |
Total comprehensive income / (loss) attributable to non-controlling interests | 49,554 | 653 | 35,047 | 17,868 | |
Total comprehensive income / (loss) during the year | 131,424 | 1,732 | 127,192 | 53,402 | |
Dividends paid / payable to non-controlling interests, including dividend tax | (26,682) | (352) | (56,029) | ||
Net cash inflow / (outflow) from operating activities | 193,401 | 2,549 | 217,798 | 82,368 | |
Net cash (outflow) / inflow from investing activities | (24,431) | (322) | (119,879) | (44,355) | |
Net cash (outflow) / inflow from financing activities | (150,677) | (1,986) | (113,512) | (24,348) | |
Net cash (outflow) / inflow | ₨ 18,293 | $ 241 | ₨ (15,593) | ₨ 13,665 |
Non-controlling Interests ('N_5
Non-controlling Interests ('NCI') and joint operations - Summarized Financial Information of Subsidiaries of the Group that have Material Non-controlling Interests (Parenthetical) (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of subsidiaries [line items] | |||
Non-controlling interests | ₨ 171,356 | $ 2,257 | ₨ 149,452 |
Put option [member] | ASI [member] | |||
Disclosure of subsidiaries [line items] | |||
Non-controlling interests | ₨ 4,401 | $ 58 | ₨ 5,369 |
Non-controlling Interests ('N_6
Non-controlling Interests ('NCI') and joint operations - Effect of Changes in Ownership Interests in Subsidiaries that did not Result in a Loss of Control (Detail) ₨ in Millions | 12 Months Ended |
Mar. 31, 2020 INR (₨) | |
Disclosure of subsidiaries [line items] | |
Changes in NCI | ₨ (2,342) |
Other Subsidiaries [member] | |
Disclosure of subsidiaries [line items] | |
Changes in NCI | ₨ (2,342) |
Capital Management - Summary of
Capital Management - Summary of Capital (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2021 USD ($) | Mar. 31, 2020 INR (₨) | Mar. 31, 2019 INR (₨) | ||||
Capital management [abstract] | ||||||||||
Equity | ₨ 807,122 | $ 10,637 | ₨ 734,049 | ₨ 681,895 | ₨ 731,946 | |||||
Cash and cash equivalents | 86,709 | 1,143 | 48,537 | |||||||
Short term investments | 233,755 | 3,081 | 276,494 | |||||||
Non-current bank deposits | 2,017 | 27 | 1,107 | |||||||
Total cash (a) | [1] | 322,481 | 4,251 | 326,138 | ||||||
Current borrowings (Note 22) | 168,944 | 2,227 | 189,600 | |||||||
Non-current borrowings (Note 22) | 362,023 | 4,772 | 379,622 | |||||||
Total debt (b) | 530,967 | [2] | 6,999 | [2] | 569,222 | [2] | $ 7,503 | ₨ 579,475 | ||
Net debt (c=(b-a)) | 208,486 | 2,748 | 243,084 | |||||||
Total capital (equity+net debt) (d) | ₨ 1,015,608 | $ 13,385 | ₨ 977,133 | |||||||
Gearing ratio (c/d) | 0.20% | 0.20% | 0.20% | 0.20% | ||||||
[1]The constituents of ‘total cash’ for the purpose of capital management disclosure includes only those amounts of restricted funds that are corresponding to liabilities (e.g. margin money deposits). Consequently, restricted funds of ₹ 6,352 million and ₹ 6,900 million ($ 91 million) as at March 31, 2021 and March 31, 2022 respectively have been excluded from ‘total cash’ in the capital management disclosures. (Refer Notes 17, 19 and 20).[2]Additionally, Non-current bank deposits of ₹ 1,107 million and ₹ 2,017 million ($ 27 million) as at March 31, 2021 and March 31, 2022 respectively have been included to form part of ‘total cash’ in the capital management disclosures. |
Capital Management - Summary _2
Capital Management - Summary of Capital (Parenthetical) (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | |||
Restricted funds | ₨ 6,900 | $ 91 | ₨ 6,352 |
Non-current bank deposits | 2,017 | 27 | 1,107 |
Part Of Total Cash [Member] | |||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items] | |||
Non-current bank deposits | ₨ 2,017 | $ 27 | ₨ 1,107 |
Commitments, guarantees, cont_3
Commitments, guarantees, contingencies and other disclosures - Summary of Estimated Amount of Contracts Remaining to be Executed on Capital Accounts (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | |
Statement [LineItems] | ||||
Estimated amount of contracts remaining executed on capital | ₨ 188,569 | $ 2,485 | ₨ 85,290 | |
Oil And Gas [member] | Cairn Oil And Gas [member] | ||||
Statement [LineItems] | ||||
Estimated amount of contracts remaining executed on capital | 21,690 | 286 | 15,547 | |
Aluminium sector [member] | Lanjigarh Refinery (Phase II) [member] | ||||
Statement [LineItems] | ||||
Estimated amount of contracts remaining executed on capital | 28,605 | 377 | 11,877 | |
Aluminium sector [member] | Jharsuguda 125 MTPA smelter [member] | ||||
Statement [LineItems] | ||||
Estimated amount of contracts remaining executed on capital | 15,770 | 208 | 4,630 | |
Aluminium sector [member] | BALCO Smelter Expansion [Member] | ||||
Statement [LineItems] | ||||
Estimated amount of contracts remaining executed on capital | 46,427 | 612 | ||
Zinc sector [member] | Zinc India [member] | ||||
Statement [LineItems] | ||||
Estimated amount of contracts remaining executed on capital | 5,070 | 67 | 3,625 | |
Zinc sector [member] | Gamsberg mining & milling project [member] | ||||
Statement [LineItems] | ||||
Estimated amount of contracts remaining executed on capital | 2,064 | 27 | 938 | |
Copper sector [member] | Tuticorin Smelter 400 KTPA [member] | ||||
Statement [LineItems] | ||||
Estimated amount of contracts remaining executed on capital | [1] | 30,514 | 402 | 29,951 |
Copper sector [member] | Other [member] | ||||
Statement [LineItems] | ||||
Estimated amount of contracts remaining executed on capital | ₨ 38,429 | $ 506 | ₨ 18,722 | |
[1]currently contracts are under suspension under the force majeure clause as per the contract |
Commitments, guarantees, cont_4
Commitments, guarantees, contingencies and other disclosures - Summary of Commitments Other than Capital Commitment (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Oil And Gas [member] | Cairn [Member] | |||
Statement [LineItems] | |||
Committed work programme | ₨ 56,149 | $ 740 | ₨ 56,254 |
Commitments, guarantees, cont_5
Commitments, guarantees, contingencies and other disclosures - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2022 USD ($) | |
Disclosure of contingent liabilities [line items] | ||||
Amount of indemnities and other guarantees | ₨ 64,490 | ₨ 62,810 | $ 850 | |
Export obligations | 9,500 | 21,653 | 125 | |
Bonds given to custom authorities | 2,069 | 3,534 | 27 | |
Electricity duty net | 8,170 | 8,780 | 108 | |
Consequential Interest After The Date Of Order | ₨ 5,341 | 5,010 | 70 | |
Gridco Limited [Member] | Power Purchase Agreements [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Percentage of power generated | 25% | 25% | ||
Power purchase agreement term | 25 years | 25 years | ||
Gridco Limited [Member] | Power Purchase Agreements [member] | Bottom of range [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Additional right percentage of power generated | 5% | 5% | ||
Gridco Limited [Member] | Power Purchase Agreements [member] | Top of range [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Additional right percentage of power generated | 7% | 7% | ||
Punjab state power corporation limited [member] | Talwandi Sabo Power Limited TSPL [member] | Power Purchase Agreements [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Power purchase agreement term | 25 years | 25 years | ||
Refund sought by the Company of ED cess paid till March 2006 [Member] | Bharat aluminium company limited [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent asset | ₨ 345 | 5 | ||
Vedanta Limited 1 [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Interest amount after date of order | 8,251 | 9,110 | 109 | |
General customs authority [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Bonds issued | 19,154 | 17,750 | 252 | |
Customs and excise duty [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Amount of indemnities and other guarantees | 4,917 | 6,477 | 65 | |
Minimum Work Programme Commitments [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Amount of indemnities and other guarantees | 28,812 | 28,888 | 380 | |
Bid Bond [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Amount of indemnities and other guarantees | 978 | 794 | 13 | |
Agencies Suppliers And Government Authorities [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Amount of indemnities and other guarantees | 28,633 | 25,501 | 377 | |
Ravva Joint Venture arbitration proceedings: ONGC Carry [member] | Vedanta Limited 1 [member] | Government of India [Member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Petroleum profit share | 4,838 | $ 64 | 4,691 | |
Electricity Duty [Member] | Chief Electrical Inspectorate Raipur [Member] | Bharat aluminium company limited [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Payment of Electricity Duty | 2,260 | 30 | 0 | |
Legal proceedings contingent liability [Member] | Refund sought by the Company of ED cess paid till March 2006 [Member] | Bharat aluminium company limited [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liability | 10,517 | 9,650 | 139 | |
Legal proceedings contingent liability [Member] | Imposition of Entry Tax [member] | States of Chhattisgarh, Odish and Rajasthan [member] | Hindustan Zinc Limited (HZL) [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Payment of entry tax obligation under amnesty scheme | 1,342 | 18 | ||
Entry tax obligation settled under amnesty scheme | 2,000 | 26 | ||
Legal proceedings contingent liability [Member] | Department of mines and Geology [Member] | Hindustan Zinc Limited (HZL) [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liability | 3,339 | 3,339 | 44 | |
Legal proceedings contingent liability [Member] | Additional payment on law [member] | Refund sought by the Company of ED cess paid till March 2006 [Member] | Bharat aluminium company limited [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liability | 10,172 | 9,304 | 135 | |
Legal proceedings contingent liability [Member] | Miscellaneous disputes [Member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liability | 46,549 | 47,820 | 614 | |
Tax contingent liability [member] | Volcan Investments Limited [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Amount of indemnities and other guarantees | 1,150 | 1,150 | 15 | |
Tax contingent liability [member] | Other Tax Disputes [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liability | 13,589 | ₨ 19,442 | 179 | |
Tax contingent liability [member] | Electricity Duty [Member] | Chief Electrical Inspectorate Raipur [Member] | Bharat aluminium company limited [member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Contingent liability | 7,311 | $ 99 | ||
Electricity duty demand raised | 8,880 | 117 | ||
Electricity Duty Interest Demand Raised | ₨ 5,880 | $ 78 |
Interest in Other entities - Su
Interest in Other entities - Summary of Group's Subsidiaries (Detail) | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Cairn Energy India Pty Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [1] | Exploration for and development and production of oil & gas | |
Country of Incorporation | [1] | Australia | |
Immediate holding company | [1] | Cairn India Holdings Limited | |
Copper Mines of Tasmania Pty Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Copper Mining | ||
Country of Incorporation | Australia | ||
Immediate holding company | Monte Cello BV | ||
Percentage of holdings | 100% | 100% | |
Thalanga Copper Mines Pty Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Copper Mining | ||
Country of Incorporation | Australia | ||
Immediate holding company | Monte Cello BV | ||
Percentage of holdings | 100% | 100% | |
Bharat aluminium company limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Aluminium mining and smelting | ||
Country of Incorporation | India | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 51% | 51% | |
ESL Steel Limited | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Manufacturing of Steel & DI Pipe | ||
Country of Incorporation | India | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 95.49% | 95.49% | |
Facor Reality and Infrastructure Limited [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [2] | Real estate | |
Country of Incorporation | [2] | India | |
Immediate holding company | [2] | FACOR | |
Percentage of holdings | [2] | 100% | 100% |
Goa Sea Ports Private Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [3] | Infrastructure | |
Country of Incorporation | [3] | India | |
Immediate holding company | [3] | Sterlite Ports Limited | |
Percentage of holdings | [3] | 100% | 100% |
Hindustan Zinc Alloys Private Limited [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [4] | Zinc Mining & Smelting | |
Country of Incorporation | [4] | India | |
Immediate holding company | [4] | Hindustan Zinc Limited | |
Percentage of holdings | [4] | 64.92% | |
Hindustan Zinc Limited (HZL) [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Zinc Mining & Smelting | ||
Country of Incorporation | India | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 64.92% | 64.92% | |
Malco Energy Limited (MEL) [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Power Generation | ||
Country of Incorporation | India | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 100% | 100% | |
Maritime Ventures Private Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [3] | Infrastructure | |
Country of Incorporation | [3] | India | |
Immediate holding company | [3] | Sterlite Ports Limited | |
Percentage of holdings | [3] | 100% | 100% |
Paradip Multi Cargo Berth Private Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [3] | Infrastructure | |
Country of Incorporation | [3] | India | |
Immediate holding company | [3] | Vedanta Limited | |
Percentage of holdings | [3] | 100% | 100% |
Sesa Mining Corporation Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [3] | Iron ore mining | |
Country of Incorporation | [3] | India | |
Immediate holding company | [3] | Sesa Resources Limited | |
Percentage of holdings | [3] | 100% | 100% |
Sesa Resources Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Iron ore mining | ||
Country of Incorporation | India | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 100% | 100% | |
Sterlite Ports Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [3] | Infrastructure | |
Country of Incorporation | [3] | India | |
Immediate holding company | [3] | Vedanta Limited | |
Percentage of holdings | [3] | 100% | 100% |
Talwandi Sabo Power Limited TSPL [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Power Generation | ||
Country of Incorporation | India | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 100% | 100% | |
Vizag General Cargo Berth Private Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Infrastructure | ||
Country of Incorporation | India | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 100% | 100% | |
Killoran Lisheen Finance Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [5] | Investment company | |
Country of Incorporation | [5] | Republic of Ireland | |
Immediate holding company | [5] | Vedanta Lisheen Holdings Limited | |
Percentage of holdings | [5] | 100% | 100% |
Killoran Lisheen Mining Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Development of a zinc/lead mine | ||
Country of Incorporation | Republic of Ireland | ||
Immediate holding company | Vedanta Lisheen Holdings Limited | ||
Percentage of holdings | 100% | 100% | |
Lisheen Milling Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Manufacturingh | ||
Country of Incorporation | Republic of Ireland | ||
Immediate holding company | Vedanta Lisheen Holdings Limited | ||
Percentage of holdings | 100% | 100% | |
Lisheen Mine Partnership [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Development and operation of a zinc/lead mine | ||
Country of Incorporation | Republic of Ireland | ||
Immediate holding company | 50% each held by Killoran Lisheen Mining Limited & Vedanta Lisheen Mining Limited | ||
Percentage of holdings | 100% | 100% | |
Vedanta Exploration Ireland Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [5] | Exploration activities | |
Country of Incorporation | [5] | Republic of Ireland | |
Immediate holding company | [5] | Vedanta Lisheen Holdings Limited | |
Percentage of holdings | [5] | 100% | 100% |
Vedanta Lisheen Holdings Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Investment company | ||
Country of Incorporation | The Netherlands | ||
Immediate holding company | THL Zinc Holding BV | ||
Percentage of holdings | 100% | 100% | |
Vedanta Lisheen Mining Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Zinc and lead mining | ||
Country of Incorporation | Republic of Ireland | ||
Immediate holding company | Vedanta Lisheen Holdings Limited | ||
Percentage of holdings | 100% | 100% | |
Cairn India Holdings Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Investment company | ||
Country of Incorporation | Jersey | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 100% | 100% | |
Western Cluster Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Iron ore mining | ||
Country of Incorporation | Liberia | ||
Immediate holding company | Bloom Fountain Limited | ||
Percentage of holdings | 100% | 100% | |
Bloom Fountain Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Investment Company | ||
Country of Incorporation | Mauritius | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 100% | 100% | |
CIG Mauritius Holdings Private Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [6] | Investment Company | |
Country of Incorporation | [6] | Mauritius | |
Immediate holding company | [6] | Cairn Energy Hydrocarbons Ltd. | |
Percentage of holdings | [6] | 100% | 100% |
CIG Mauritius Private Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [6] | Investment Holding Company and to provide services and resources relevant to oil & gas exploration, production and development | |
Country of Incorporation | [6] | Mauritius | |
Immediate holding company | [6] | CIG Mauritius Holding Private Ltd. | |
Percentage of holdings | [6] | 100% | 100% |
THL Zinc Ltd [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Investment Company | ||
Country of Incorporation | Mauritius | ||
Immediate holding company | THL Zinc Ventures Limited | ||
Percentage of holdings | 100% | 100% | |
THL Zinc Ventures Ltd [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Investment Company | ||
Country of Incorporation | Mauritius | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 100% | 100% | |
Amica Guesthouse (Proprietary) Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Accomodation and catering services | ||
Country of Incorporation | Nambia | ||
Immediate holding company | Skorpion Zinc (Proprietary) Limited | ||
Percentage of holdings | 100% | 100% | |
Namzinc (Proprietary) Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Owns and operates a zinc refinery | ||
Country of Incorporation | Nambia | ||
Immediate holding company | Skorpion Zinc (Proprietary) Limited | ||
Percentage of holdings | 100% | 100% | |
Lakomasko BV [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Investment company | ||
Country of Incorporation | The Netherlands | ||
Immediate holding company | THL Zinc Holding BV | ||
Percentage of holdings | 100% | 100% | |
THL Zinc Holding BV [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Investment company | ||
Country of Incorporation | The Netherlands | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 100% | 100% | |
Cairn Energy Discovery Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [1] | Oil and gas exploration, development and production | |
Country of Incorporation | [1] | Scotland | |
Immediate holding company | [1] | Cairn India Holdings Limited | |
Percentage of holdings | [1] | 0% | 0% |
Cairn Energy Gujarat Block 1 Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [1] | Oil and gas exploration, development and production | |
Country of Incorporation | [1] | Scotland | |
Immediate holding company | [1] | Cairn India Holdings Limited | |
Percentage of holdings | [1] | 100% | 100% |
Cairn Energy Hydrocarbons Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Oil and gas exploration, development and production | ||
Country of Incorporation | Scotlandf | ||
Immediate holding company | Cairn India Holdings Limited | ||
Percentage of holdings | 100% | 100% | |
Cairn Exploration (No 2) Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [1] | Oil and gas exploration, development and production | |
Country of Incorporation | [1] | Scotland | |
Immediate holding company | [1] | Cairn India Holdings Limited | |
Black Mountain Mining (Proprietary) Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Exploration, development, production and sale of zinc, lead, copper and associated mineral concentrates | ||
Country of Incorporation | South Africa | ||
Immediate holding company | THL Zinc Ltd | ||
Percentage of holdings | 74% | 74% | |
Cairn South Africa Pty Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [7] | Oil and gas exploration, development and production | |
Country of Incorporation | [7] | South Africa | |
Immediate holding company | [7] | Cairn Energy Hydrocarbons Ltd. | |
Percentage of holdings | [7] | 100% | |
AvanStrate Korea Inc [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Manufacturing of LCD Glass Substrate | ||
Country of Incorporation | Korea | ||
Immediate holding company | Avanstrate (Japan) Inc. | ||
Percentage of holdings | 100% | 100% | |
Cairn Lanka Private Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Oil and gas exploration, development and production | ||
Country of Incorporation | Sri Lanka | ||
Immediate holding company | CIG Mauritius Private Ltd. | ||
Percentage of holdings | 100% | 100% | |
AvanStrate Taiwan Inc [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Manufacturing of LCD Glass Substrate | ||
Country of Incorporation | Taiwan | ||
Immediate holding company | Avanstrate (Japan) Inc. | ||
Percentage of holdings | 100% | 100% | |
Fujairah Gold FZC [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Manufacturing of Copper Rod and Refining of Precious Metals (Gold & Silver) | ||
Country of Incorporation | United Arab Emirates | ||
Immediate holding company | Malco Energy Limited | ||
Percentage of holdings | 100% | 100% | |
Sterlite (USA) Inc. [member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [8] | Investment company | |
Country of Incorporation | [8] | United States of America | |
Immediate holding company | [8] | Vedanta Limited | |
Percentage of holdings | [8] | 100% | |
Ferro Alloy Corporation Limited (FACOR) [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [9] | Manufacturing of Ferro Alloys and Mining | |
Country of Incorporation | [9] | India | |
Immediate holding company | [9] | Vedanta Limited | |
Percentage of holdings | [9] | 100% | 100% |
Facor Power Limited [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [9] | Power Generation | |
Country of Incorporation | [9] | India | |
Immediate holding company | [9] | FACOR | |
Percentage of holdings | [9] | 90% | 90% |
Desai Cement Company Private Limited [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [10] | Cement | |
Country of Incorporation | [10] | India | |
Immediate holding company | [10] | Sesa Mining Corporation Limited | |
Percentage of holdings | [10] | 100% | |
Vedanta Zinc Football & Sports Foundation [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | [11] | Sports Foundation | |
Country of Incorporation | [11] | India | |
Immediate holding company | [11] | Hindustan Zinc Limited | |
Percentage of holdings | [11] | 64.92% | |
AvanStrate Inc. (‘ASI') [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Manufacturing of LCD Glass Substrate | ||
Country of Incorporation | Japan | ||
Immediate holding company | Cairn India Holdings Limited | ||
Percentage of holdings | 51.63% | 51.63% | |
Skorpion Mining Company (Proprietary) Limited (‘NZ') [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Exploration, development,treatment, production and sale of zinc ore | ||
Country of Incorporation | Nambia | ||
Immediate holding company | Skorpion Zinc (Proprietary) Limited | ||
Percentage of holdings | 100% | 100% | |
Skorpion Zinc (Proprietary) Limited (‘SZPL') [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Operating (zinc) and investing company | ||
Country of Incorporation | Nambia | ||
Immediate holding company | THL Zinc Namibia Holdings (Proprietary) Ltd | ||
Percentage of holdings | 100% | 100% | |
THL Zinc Namibia Holdings (Proprietary) Limited ("VNHL") [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Mining and Exploration and Investment company | ||
Country of Incorporation | Nambia | ||
Immediate holding company | THL Zinc Ltd | ||
Percentage of holdings | 100% | 100% | |
Monte Cello BV ("MCBV") [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Principal activities | Holding company | ||
Country of Incorporation | The Netherlands | ||
Immediate holding company | Vedanta Limited | ||
Percentage of holdings | 100% | 100% | |
[1]Cairn Exploration (No. 2) Limited and Cairn Energy Discovery Limited have been dissolved w.e.f. September 22, 2020. Cairn Energy India (Pty) Ltd. was deregistered on August 26, 2020.[2]Passed a resolution for dissolving on March 8, 2022[3]The Group has filed an application at Mumbai NCLT on September 25, 2021 and at Chennai NCLT on September 29, 2021 for the merger of Maritime Ventures Private Limited, Sterlite Ports Limited, Paradip Multi Cargo Berth Private Limited, Goa Sea Port Private Limited with Sesa Mining Corporation Limited.[4]Incorporated on November 17, 2021[5]Dissolved on June 9, 2021[6]Under Liquidation[7]Cairn South Africa Pty Limited has been deregistered w.e.f. April 6, 2021.[8]Liquidated on December 20, 2021[9]The Group has filed an application at NCLT Cuttack on September 16, 2021 for the merger of Ferro Alloy Corporation Limited (“FACOR”) and FACOR Power Limited.[10]Acquired on November 15, 2021[11]Incorporated on December 21, 2021 |
Interest in Other entities - _2
Interest in Other entities - Summary of Joint Operations (Detail) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Ravva block - Exploration and production [member] | ||
Disclosure of joint ventures [line items] | ||
Area | Krishna Godavari | |
Participating Interest (%) | 22.50% | 22.50% |
CB-OS/2 - Exploration [member] | ||
Disclosure of joint ventures [line items] | ||
Area | Cambay Offshore | |
Participating Interest (%) | 60% | 60% |
CB-OS/2 - Development & production [member] | ||
Disclosure of joint ventures [line items] | ||
Area | Cambay Offshore | |
Participating Interest (%) | 40% | 40% |
RJ-ON-90/1- Exploration [member] | ||
Disclosure of joint ventures [line items] | ||
Area | Rajasthan Onshore | |
Participating Interest (%) | 100% | 100% |
RJ-ON-90/1- Development & production [member] | ||
Disclosure of joint ventures [line items] | ||
Area | Rajasthan Onshore | |
Participating Interest (%) | 70% | 70% |
KG-OSN-2009/3 – Exploration [member] | ||
Disclosure of joint ventures [line items] | ||
Area | Krishna Godavari Offshore | |
Participating Interest (%) | 100% | 100% |
KG-ONN-2003/1 [member] | ||
Disclosure of joint ventures [line items] | ||
Area | Krishna Godavari Onshore | |
Participating Interest (%) | 49% | 49% |
Related Party Transactions - Su
Related Party Transactions - Summary of Related Parties and Relationships (Detail) | 12 Months Ended | |
Mar. 31, 2022 | ||
Volcan Investments Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of ultimate parent of group | Volcan Investments Limited (‘Volcan’) | |
Volcan Investments Cyprus Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of ultimate parent of group | Volcan Investments Cyprus Limited | |
Vedanta Resources Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Vedanta Resources Limited (VRL) | |
Vedanta Resources Holdings Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Vedanta Resources Holdings Limited | [1] |
Twinstar Holdings Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Twin Star Holdings Limited | [1] |
Finsider international company limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Finsider International Company Limited | [1] |
Westglobe limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Westglobe Limited | [1] |
Welter trading limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Welter Trading Limited | [1] |
Richter Holdings Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Richter Holdings Limited | [1] |
Vedanta Resources Finance Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Vedanta Resources Finance Limited | [1] |
Vedanta Resources Cyprus Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Vedanta Resources Cyprus Limited | [1] |
Vedanta Holdings Mauritius II Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Vedanta Holdings Mauritius II Limited | [1] |
Sterlite Technologies Limited | ||
Disclosure of transactions between related parties [line items] | ||
Name of fellow subsidiaries | Sterlite Technologies Limited | |
Sterlite Power Transmission Limited | ||
Disclosure of transactions between related parties [line items] | ||
Name of fellow subsidiaries | Sterlite Power Transmission Limited | |
Sterlite Iron and Steel Company Limited ('SISCOL') [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of fellow subsidiaries | Sterlite Iron and Steel Company Limited | |
Sterlite Power Grid Ventures Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of fellow subsidiaries | Sterlite Power Grid Ventures Limited | |
Twin Star Technologies Limited [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of fellow subsidiaries | Twin Star Technologies Limited | |
Balco employees provident fund trust [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Balco Employees Provident Fund Trust | |
Hindustan Zinc Limited Employees Contributory Provident Fund Trust [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Hindustan Zinc Ltd Employees Contributory Provident Fund Trust | |
Sesa group employees provident fund Trust [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Sesa Group Employees Provident Fund | |
Sesa Mining Corporation Limited Employees provident fund trust [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Sesa Mining Corporation Limited Employees Provident Fund Trust | |
Sesa Resources Limited Employees Provident Fund Trust [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Sesa Resources Limited Employees Provident Fund Trust | |
HZL Employee group Gratuity Trust [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | HZL Employee Group Gratuity Trust | |
Sesa Group Employees Gratuity Fund and Sesa Group Executives Gratuity Fund [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Sesa Group Employees Gratuity Fund and Sesa Group Executives Gratuity Fund | |
Sesa Resources Limited Employees Gratuity Fund [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Sesa Resources Limited Employees Gratuity Fund | |
Sesa Mining Corporation Limited Employees Gratuity Fund [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Sesa Mining Corporation Limited Employees Gratuity Fund | |
HZL Superannuation Trust [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | HZL Superannuation Trust | |
Sesa Group Executives Superannuation scheme Fund [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Sesa Group Executives Superannuation scheme Fund | |
Sesa Resources Limited and Sesa Mining Corporation Limited Employees Superannuation Fund [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | Sesa Resources Limited and Sesa Mining Corporation Limited Employees Superannuation Fund | |
FACOR Superannuation Trust [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | FACOR Superannuation Trust | [2] |
FACOR Employees Gratuity Scheme [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of related parties with post retirement benefit plan relationships | FACOR Employees Gratuity Scheme | [2] |
RoshSkor Township Pty Ltd [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of associates and joint ventures | RoshSkor Township (Pty) Ltd | |
Goa Maritime Private Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of associates and joint ventures | Goa Maritime Private Limited | |
Vedanta Medical Research Foundation [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Vedanta Medical Research Foundation | |
Vedanta Foundation [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Vedanta Foundation | |
Cairn Foundation [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Cairn Foundation | |
Sesa Community Development Foundation [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Sesa Community Development Foundation | |
Janhit Electoral Trust [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Janhit Electoral Trust | |
Fujairah Gold Ghana [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Fujairah Gold Ghana | |
Runaya Refinery LLP [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Runaya Refining LLP | |
Minova Runaya Private Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Minova Runaya Private Limited | |
Vedanta Holdings Mauritius Limited [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Vedanta Holdings Mauritius Limited | [1] |
Vedanta UK Investments Limited [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Vedanta UK Investments Limited | [1] |
Vedanta Netherlands Investments BV [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Vedanta Netherlands Investments BV | [1] |
Gaurav Overseas Private Limited [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of associates and joint ventures | Gaurav Overseas Private Limited | |
Vedanta Holdings Jersey Limited [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of intermediate holding companies | Vedanta Holdings Jersey Limited | [1] |
Fujairah Metals LLC [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Fujairah Metals LLC | |
Caitlyn India Private Limited [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Name of other related parties | Caitlyn India Private Limited | |
[1]These entities are subsidiary companies of VRL and VRL through its subsidiaries holds 69.68% in Vedanta Limited.[2]Acquired during the year ended March 31, 2021. |
Related Party Transactions - _2
Related Party Transactions - Summary of Related Parties and Relationships (Parenthetical) (Detail) | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Vedanta Resources Limited [member] | ||
Disclosure of transactions between related parties [line items] | ||
Percentage of share holdings in company | 69.68% | 55.10% |
Related Party Transactions - _3
Related Party Transactions - Summary of Significant Transactions with Related Parties (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of transactions between related parties [line items] | ||||
Revenue from sale of goods related party transactions | ₨ 14,537 | $ 192 | ₨ 7,394 | ₨ 8,576 |
Interest income /guarantee commission | 7,210 | 95 | 6,697 | 423 |
Outsourcing Service Income | 36 | 0 | 36 | 30 |
Dividend Income | 15 | 0 | 17 | 56 |
Miscellaneous income | 11 | 0 | ||
Purchases of goods/services | 2,393 | 32 | 1,306 | 648 |
Long Term Incentive Plan (Recovery) | (6) | |||
Management and brand fees expenses | 16,168 | 213 | 9,855 | 5,257 |
Reimbursement of other expenses (net of recovery) | 134 | 2 | 903 | 480 |
Corporate Social Responsibility Expenditure / donation | 451 | 6 | 629 | 1,110 |
Contribution to Post retirement employee benefit trust | 1,135 | 15 | 585 | 1,117 |
Remuneration to relative of Key Managerial Personnel | 228 | 3 | 127 | 169 |
Directors' remuneration expense, commission/ sitting fees to independent directors | 44 | 1 | 35 | 42 |
Directors remuneration expense commission sitting fees to key management personnel | 16 | 0 | 15 | 40 |
Directors remuneration expense commission sitting fees to relatives of key management personnel | 3 | 0 | 3 | 3 |
Dividend to holding companies | 113,460 | 1,495 | 17,703 | 7,267 |
Dividend to key management personnel | 1 | 0 | 0 | 0 |
Dividend to relatives of key management personnel | 9 | 0 | 2 | 1 |
Interest and guarantee commission expense | 1,470 | 19 | 1,332 | |
Loans given / (repaid) | (16,227) | (214) | 71,654 | (3) |
Financial guarantee given | 31,468 | 2 | ||
Financial guarantee relinquished | 53 | 1 | 31,573 | 255 |
Investment made/(redeemed) | (44,847) | |||
Investment purchased/(redeemed) during the year | 1 | 0 | ||
Loan taken/(repaid) | (3) | $ 0 | ||
Entities controlling the company/ Fellow Subsidiaries | ||||
Disclosure of transactions between related parties [line items] | ||||
Revenue from sale of goods related party transactions | 13,947 | 7,357 | 8,554 | |
Interest income /guarantee commission | 7,210 | 6,697 | 423 | |
Outsourcing Service Income | 36 | 36 | 30 | |
Dividend Income | 15 | 17 | 17 | |
Purchases of goods/services | 746 | 760 | 581 | |
Long Term Incentive Plan (Recovery) | (4) | |||
Management and brand fees expenses | 16,168 | 9,855 | 5,257 | |
Reimbursement of other expenses (net of recovery) | 133 | 904 | 479 | |
Dividend to holding companies | 113,460 | 17,703 | 7,267 | |
Dividend to key management personnel | ||||
Dividend to relatives of key management personnel | ||||
Interest and guarantee commission expense | 1,470 | 1,332 | ||
Loans given / (repaid) | (16,227) | 71,654 | 0 | |
Financial guarantee given | 31,468 | |||
Financial guarantee relinquished | 10 | 31,458 | ||
Investment made/(redeemed) | (44,847) | |||
Loan taken/(repaid) | (3) | |||
Associates/Joint Ventures | ||||
Disclosure of transactions between related parties [line items] | ||||
Dividend to key management personnel | ||||
Dividend to relatives of key management personnel | ||||
Loans given / (repaid) | (3) | |||
Financial guarantee relinquished | ||||
Investment purchased/(redeemed) during the year | 1 | |||
Other related parties [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Revenue from sale of goods related party transactions | 590 | 37 | 22 | |
Dividend Income | 39 | |||
Miscellaneous income | 11 | |||
Purchases of goods/services | 1,647 | 546 | 67 | |
Long Term Incentive Plan (Recovery) | (2) | |||
Reimbursement of other expenses (net of recovery) | 1 | (1) | 1 | |
Corporate Social Responsibility Expenditure / donation | 451 | 629 | 1,110 | |
Contribution to Post retirement employee benefit trust | 1,135 | 585 | 1,117 | |
Remuneration to relative of Key Managerial Personnel | 228 | 127 | 169 | |
Directors' remuneration expense, commission/ sitting fees to independent directors | 44 | 35 | 42 | |
Directors remuneration expense commission sitting fees to key management personnel | 16 | 15 | 40 | |
Directors remuneration expense commission sitting fees to relatives of key management personnel | 3 | 3 | 3 | |
Dividend to key management personnel | 1 | 0 | 0 | |
Dividend to relatives of key management personnel | 9 | 2 | 1 | |
Financial guarantee given | 2 | |||
Financial guarantee relinquished | ₨ 43 | ₨ 115 | ₨ 255 |
Related Party Transactions - _4
Related Party Transactions - Summary of Significant Transactions with Related Parties (Parenthetical) (Detail) - 12 months ended Mar. 31, 2021 ₨ in Millions, $ in Millions | INR (₨) | USD ($) |
Disclosure of transactions between related parties [line items] | ||
Loans given, net of repayment | ₨ 11,170 | $ 153 |
Related Party Transactions - _5
Related Party Transactions - Summary of Significant Receivables From and Payables To Related Parties (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) |
Disclosure of transactions between related parties [line items] | |||
Trade Receivables | ₨ 175 | $ 2 | ₨ 466 |
Loans given | 54,623 | 720 | 70,712 |
Receivable from (Including brand fee prepaid) | 3,065 | 40 | 9,304 |
Trade Payables | 977 | 13 | 1,188 |
Payable to (Including brand fee payable) | 2,059 | 27 | 2,943 |
Guarantees outstanding given | 4 | 0 | 57 |
Banking Limits assigned/utilised/renewed to/for group companies | 1,150 | 15 | 1,150 |
Remuneration, Commission and consultancy fees payable to KMP and their relatives | 81 | $ 1 | 61 |
Entities controlling the company/ Fellow Subsidiaries | |||
Disclosure of transactions between related parties [line items] | |||
Trade Receivables | 128 | 466 | |
Loans given | 54,571 | 70,663 | |
Receivable from (Including brand fee prepaid) | 2,943 | 9,271 | |
Trade Payables | 670 | 973 | |
Payable to (Including brand fee payable) | 1,678 | 2,078 | |
Guarantees outstanding given | 10 | ||
Banking Limits assigned/utilised/renewed to/for group companies | 1,150 | 1,150 | |
Associates/Joint Ventures [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Loans given | 52 | 49 | |
Receivable from (Including brand fee prepaid) | 99 | 10 | |
Other related parties [member] | |||
Disclosure of transactions between related parties [line items] | |||
Trade Receivables | 47 | ||
Receivable from (Including brand fee prepaid) | 23 | 23 | |
Trade Payables | 307 | 215 | |
Payable to (Including brand fee payable) | 381 | 866 | |
Guarantees outstanding given | 4 | 47 | |
Remuneration, Commission and consultancy fees payable to KMP and their relatives | ₨ 81 | ₨ 61 |
Related Party Transactions - _6
Related Party Transactions - Summary of Remuneration of Key Management Personnel (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |||
Disclosure of transactions between related parties [abstract] | ||||||
Short term employee benefits | ₨ 340 | $ 5 | ₨ 277 | ₨ 396 | [1] | |
Post-employment benefits | [2] | 10 | 0 | 10 | 79 | |
Share based payments | 10 | 0 | 2 | 12 | ||
Total | ₨ 360 | $ 5 | ₨ 289 | ₨ 487 | ||
[1]This includes reimbursement to the parent company for remuneration paid to the then CEO and Whole Time Director of the Company aggregating to ₹ 115 million ($ 2 million) for the year ended March 31, 2020.[2]Does not include the provision made for gratuity and leave benefits, as they are determined on an actuarial basis for all the employees together. |
Related Party Transactions - _7
Related Party Transactions - Summary of Remuneration of Key Management Personnel (Parenthetical) (Detail) - 12 months ended Mar. 31, 2020 ₨ in Millions, $ in Millions | INR (₨) | USD ($) |
CEO and Whole Time Director of the Company | ||
Disclosure of transactions between related parties [line items] | ||
Directors' remuneration expense | ₨ 115 | $ 2 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) ₨ in Millions, £ in Millions, $ in Millions | 12 Months Ended | |||||||||||||||
Jul. 19, 2019 INR (₨) | Jul. 19, 2019 USD ($) | Jul. 19, 2019 GBP (£) | Mar. 31, 2022 INR (₨) Segments | Mar. 31, 2022 USD ($) Segments | Mar. 31, 2021 INR (₨) | Mar. 31, 2021 USD ($) | Mar. 31, 2020 INR (₨) | Apr. 30, 2022 INR (₨) | Apr. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Mar. 31, 2022 GBP (£) | May 31, 2021 INR (₨) | May 31, 2021 USD ($) | Mar. 31, 2020 USD ($) | Mar. 31, 2020 GBP (£) | |
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Investments made/(redeemed) | ₨ (44,847) | |||||||||||||||
Amounts receivable related party transactions | ₨ 3,065 | ₨ 9,304 | $ 40 | |||||||||||||
Loan outstanding, Related party | 56,827 | 70,653 | 749 | |||||||||||||
Accrued interest payable , Related party | 200 | |||||||||||||||
Amount of investment paid to the project | 235,932 | ₨ 281,775 | 3,110 | |||||||||||||
Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Loan amount in excess of the present value of the modified contractual cash flows discounted at the original effective interest rate | 5,361 | $ 73 | ||||||||||||||
Repayment of related party debt | 16,227 | $ 214 | ||||||||||||||
Revised [Member] | Level Two Valuation Approach [Member] | US Dollar Treasury Rates And Credit Default Swap Rates [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Interest rate on borrowings | 9.60% | |||||||||||||||
Revenue Sharing Contract [Member] | Financial And Performance Guarantee [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Guarantee, Pre payments outstanding | ₨ 1,260 | |||||||||||||||
Revenue Sharing Contract [Member] | Financial And Performance Guarantee [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Guarantee percentage on the estimated exploration costs | 2.50% | 2.50% | 2.50% | |||||||||||||
Exploration cost of initial phase | ₨ 75,870 | $ 1,000 | ||||||||||||||
Annual charge as a percenatage of spend | 1% | 1% | ||||||||||||||
Guarantee, Commission expenses | ₨ 1,470 | |||||||||||||||
Guarantee, Pre payments outstanding | ₨ 1,610 | |||||||||||||||
Revenue Sharing Contract [Member] | Financial And Performance Guarantee [Member] | Vedanta Resource Limited [Member] | Ind Rs [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Guarantee, Commission expenses | 1,332 | 0 | ||||||||||||||
Revenue Sharing Contract [Member] | Financial And Performance Guarantee [Member] | Vedanta Resource Limited [Member] | USD [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Guarantee, Commission expenses | $ | $ 19 | |||||||||||||||
Brand License Agreement [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Related party transaction, Brand fee expenses | ₨ 15,530 | $ 205 | ₨ 9,390 | ₨ 3,130 | ||||||||||||
Brand License Agreement [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Percentage of brand fee paid on turnover | 0.75% | |||||||||||||||
Brand License Agreement [Member] | ReNegotiated [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Percentage of brand fee paid on turnover | 2% | 2% | ||||||||||||||
Power Delivery Agreement [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Procuring Renewable Power Term | 25 years | 25 years | ||||||||||||||
Ownership interest in subsidiary | 26% | 26% | ||||||||||||||
Power Delivery Agreement [Member] | BALCO [member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Equity Infusion Shares Value | ₨ 2,300 | 30 | ||||||||||||||
Power Delivery Agreement [Member] | Serentica Renewables India Three Private Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Equity Infusion Shares Value | 2,500 | 33 | ||||||||||||||
Power Delivery Agreement [Member] | Non Adjusting Events After Reporting Period [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Amount of investment paid to the project | ₨ 1,440 | $ 19 | ||||||||||||||
Cairn India Holdings Limited [member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Investment made by Cairn in bonds issued | ₨ 2,110 | 31 | ||||||||||||||
Percentage of voting interest owned | 100% | 100% | 100% | 100% | ||||||||||||
Investment disposed, Consideration on disposal | ₨ 2,117 | $ 29 | ||||||||||||||
Cairn India Holdings Limited [member] | Ind Rs [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Borrowings, maturity | June 2021 | June 2021 | ||||||||||||||
Cairn India Holdings Limited [member] | USD [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Borrowings, maturity | May 2023 | May 2023 | ||||||||||||||
Cairn India Holdings Limited [member] | Revenue Sharing Contract [Member] | Financial And Performance Guarantee [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Provision of guarantees or collateral to entity, related party transactions | ₨ 1,897 | $ 25 | ||||||||||||||
Cairn India Holdings Limited [member] | Revenue Sharing Contract [Member] | Open Acreage Licensing Policy [Member] | Financial And Performance Guarantee [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Number of Blocks awarded | Segments | 51 | 51 | ||||||||||||||
Cairn India Holdings Limited [member] | Anglo American Plc [member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Structured investment acquired, total consideration | ₨ 38,124 | $ 541 | £ 428 | |||||||||||||
Twinstar Holdings Limited [member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Loan outstanding, Related party | ₨ 748 | 49 | ||||||||||||||
Twinstar Holdings Limited [member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Agreed novation amount | ₨ 22,761 | $ 300 | ||||||||||||||
Volcan Investments Limited [member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Investments made/(redeemed) | ₨ 44,847 | $ 639 | £ 519 | |||||||||||||
Amounts receivable related party transactions | ₨ 926 | $ 12 | £ 10 | |||||||||||||
Percentage of equity interest owned | 100% | 100% | ||||||||||||||
Percentage of voting interest owned | 100% | 100% | ||||||||||||||
Anil Agarwal Discretionary Trust [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Percentage of voting interest owned | 100% | 100% | ||||||||||||||
Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Interest rate on borrowings | 10.10% | 10.10% | 10.10% | |||||||||||||
Vedanta Resource Limited [Member] | Revenue Sharing Contract [Member] | Financial And Performance Guarantee [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Guarantee, Pre payments outstanding | $ | $ 17 | |||||||||||||||
Cairn Energy Hydrocarbons Ltd [Member] | Production Sharing Agreement [member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Annual charge as a percenatage of spend | 1.20% | 1.20% | ||||||||||||||
Sterlite Iron And Steel Company Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Loan outstanding, Related party | ₨ 49 | |||||||||||||||
Bottom of range [member] | Revenue Sharing Contract [Member] | Financial And Performance Guarantee [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Annual charges | ₨ 759 | $ 10 | ||||||||||||||
Bottom of range [member] | Brand License Agreement [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Percentage of brand fee paid on turnover | 0.75% | |||||||||||||||
Bottom of range [member] | Cairn India Holdings Limited [member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Interest rate on borrowings | 7.13% | 7.13% | 7.13% | |||||||||||||
Bottom of range [member] | Cairn Energy Hydrocarbons Ltd [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Annual charges | ₨ 379 | 5 | ||||||||||||||
Top of range [member] | Revenue Sharing Contract [Member] | Financial And Performance Guarantee [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Annual charges | ₨ 1,517 | $ 20 | ||||||||||||||
Top of range [member] | Brand License Agreement [Member] | Vedanta Resource Limited [Member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Percentage of brand fee paid on turnover | (1.50%) | |||||||||||||||
Top of range [member] | Cairn India Holdings Limited [member] | ||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||
Interest rate on borrowings | 8.25% | 8.25% | 8.25% |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | Jul. 20, 2022 USD ($) | Jul. 01, 2022 USD ($) MW | Jul. 20, 2022 INR (₨) | Jul. 01, 2022 INR (₨) | Jul. 01, 2022 USD ($) |
Major business combination [member] | Athena Chhattisgarh Power Limited [member] | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Consideration transferred, acquisition-date fair value | ₨ 5,647,000,000 | $ 74,000,000 | |||
Capacity of captive power plant | MW | 1,200 | ||||
Non adjusting events after reporting period [member] | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Excise tax payables | ₨ | ₨ 17,000 | ₨ 23,250 | |||
Change in crude oil per barrel | $ | $ 30 | $ 40 |
Other Matters - Additional Info
Other Matters - Additional Information (Detail) ₨ in Millions, $ in Millions | 1 Months Ended | 5 Months Ended | 12 Months Ended | |||||||||||||||
Apr. 01, 2022 | Mar. 18, 2021 MT | Mar. 09, 2021 MT | Aug. 31, 2020 MT | Jan. 09, 2012 USD ($) | Jul. 21, 2009 | Aug. 29, 2003 | Apr. 30, 2002 | Mar. 01, 2001 | Oct. 31, 2020 MT | Apr. 30, 2019 MT | Mar. 31, 2021 MT | Mar. 31, 2022 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 | Dec. 14, 2020 USD ($) | Dec. 14, 2020 INR (₨) | Jan. 31, 2020 INR (₨) | |
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Cost per unit of the product | 1,707 | |||||||||||||||||
Demand price towards differential pricing and interest | $ 37 | ₨ 2,810 | ||||||||||||||||
Provision For Estimated Costs | $ 38 | 2,877 | ||||||||||||||||
Percentage of average as utilisations | Effective April 1, 2022, the notification has introduced a three-year cycle to achieve average ash utilisation of 100 per cent. The first three-year cycle is extendable by another one year or two years where ash utilisation percentage is in the range of 60-80 per cent or less than 60 per cent, respectively. Further, unutilised accumulated ash, i.e., legacy fly ash stored with such power plants prior to the date of this notification is required to be utilized fully over a ten year period with minimum twenty percent, thirty percent and fifty percent utilisation of annual ash generation in year 1, year 2 and years 3-10 respectively. | |||||||||||||||||
Litigation settlement accrual amount | ₨ | ₨ 19,250 | |||||||||||||||||
Three Year Cycle Period [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Percentage of average ash utilisation | 100% | |||||||||||||||||
Bottom of range [member] | Period Of Cycle Extendable One Year [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Percentage of average ash utilisation | 60% | |||||||||||||||||
Top of range [member] | Period Of Cycle Extendable One Year [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Percentage of average ash utilisation | 80% | |||||||||||||||||
Rule Forty Five Of Minerals Other Than Atomic And Hydro Carbons Energy Minerals Concession Rules Two Thousand And Sixteen [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
E- auction, floor price | 2,011 | |||||||||||||||||
Provisional Price [Member] | Orissa Mining Corporation Ltd [Member] | Long Term Linkage Arrangement [Member] | Bauxite [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Cost per unit of the product | 1,000 | |||||||||||||||||
EAuction Based Price [Member] | Orissa Mining Corporation Ltd [Member] | Long Term Linkage Arrangement [Member] | Bauxite [Member] | Actual Price Discovery Based On E Auction [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Cost per unit of the product | 673 | |||||||||||||||||
Price Mentioned By Court [Member] | Orissa Mining Corporation Ltd [Member] | Long Term Linkage Arrangement [Member] | Bauxite [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Bauxite price | 1,000 | |||||||||||||||||
Price Mentioned By Cuttack High Court [Member] | Orissa Mining Corporation Ltd [Member] | Long Term Linkage Arrangement [Member] | Bauxite [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Bauxite price | 1,000 | |||||||||||||||||
Hindustan Zinc Limited (HZL) [member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Ownership interest in subsidiary | 64.90% | 26% | 35.08% | 35.08% | 35.08% | |||||||||||||
Additional interests acquired | 20% | 18.90% | ||||||||||||||||
Ownership interest to be sold to employees | 3.50% | |||||||||||||||||
Hindustan Zinc Limited (HZL) [member] | Legal proceedings contingent liability [Member] | Additionally Raised [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Guarantees for minimum work programmer commitments amount | $ 42 | ₨ 3,110 | ||||||||||||||||
Hindustan Zinc Limited (HZL) [member] | Legal proceedings contingent liability [Member] | Department of mines and Geology [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Guarantees for minimum work programmer commitments amount | ₨ | ₨ 19,250 | |||||||||||||||||
Hindustan Zinc Limited (HZL) [member] | Government of India [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Ownership interest in subsidiary | 29.50% | |||||||||||||||||
Offer to acquire interests | $ | $ 2,071 | |||||||||||||||||
Bharat aluminium company limited [member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Ownership interest in subsidiary | 51% | 49% | 49% | 49% | ||||||||||||||
Bharat aluminium company limited [member] | Government of India [Member] | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Offer to acquire interests | $ | $ 238 |
Supplementary Information on _3
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) - Summary in Tabular Form of Capitalized Costs Relating To Oil and Gas Producing Activities (Detail) - Oil And Natural Gas Reserve [member] - INR (₨) ₨ in Millions | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
India [member] | |||
Disclosure In Tabular Form Of Capitalized Costs Relating To Oil And Gas Producing Activities [line items] | |||
Net Capitalized costs | ₨ 143,344 | ₨ 108,206 | ₨ 116,801 |
India [member] | Gross carrying amount [member] | |||
Disclosure In Tabular Form Of Capitalized Costs Relating To Oil And Gas Producing Activities [line items] | |||
Unproved oil and gas properties | 43,705 | 37,333 | 33,033 |
Proved oil and gas properties | 1,554,729 | 1,521,179 | 1,542,710 |
Support equipment | 6,740 | 6,657 | 6,553 |
Net Capitalized costs | 1,605,174 | 1,565,169 | 1,582,296 |
India [member] | Accumulated depreciation, depletion, and amortization, and valuation allowances (including impairment loss) [member] | |||
Disclosure In Tabular Form Of Capitalized Costs Relating To Oil And Gas Producing Activities [line items] | |||
Net Capitalized costs | (1,461,830) | (1,456,963) | (1,465,495) |
Sri Lanka [member] | |||
Disclosure In Tabular Form Of Capitalized Costs Relating To Oil And Gas Producing Activities [line items] | |||
Net Capitalized costs | 0 | 0 | 0 |
Sri Lanka [member] | Gross carrying amount [member] | |||
Disclosure In Tabular Form Of Capitalized Costs Relating To Oil And Gas Producing Activities [line items] | |||
Unproved oil and gas properties | 59,571 | 57,766 | 58,959 |
Proved oil and gas properties | 0 | 0 | 0 |
Support equipment | 0 | 0 | |
Net Capitalized costs | 59,571 | 57,766 | 58,959 |
Sri Lanka [member] | Accumulated depreciation, depletion, and amortization, and valuation allowances (including impairment loss) [member] | |||
Disclosure In Tabular Form Of Capitalized Costs Relating To Oil And Gas Producing Activities [line items] | |||
Net Capitalized costs | (59,571) | (57,766) | (58,959) |
South Africa [member] | |||
Disclosure In Tabular Form Of Capitalized Costs Relating To Oil And Gas Producing Activities [line items] | |||
Net Capitalized costs | 0 | (5) | 0 |
South Africa [member] | Gross carrying amount [member] | |||
Disclosure In Tabular Form Of Capitalized Costs Relating To Oil And Gas Producing Activities [line items] | |||
Unproved oil and gas properties | 2,751 | 2,668 | 2,728 |
Proved oil and gas properties | 0 | 0 | 0 |
Support equipment | 5 | 0 | |
Net Capitalized costs | 2,756 | 2,668 | 2,728 |
South Africa [member] | Accumulated depreciation, depletion, and amortization, and valuation allowances (including impairment loss) [member] | |||
Disclosure In Tabular Form Of Capitalized Costs Relating To Oil And Gas Producing Activities [line items] | |||
Net Capitalized costs | ₨ (2,756) | ₨ (2,673) | ₨ (2,728) |
Supplementary Information on _4
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) - Summary of Costs Incurred Expended and Capitalized Oil and Natural Gas (Detail) - Oil And Natural Gas Reserve [member] - INR (₨) ₨ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
India [member] | |||
Disclosure Of Costs Incurred Expended And Capitalized Oil And Natural Gas [line items] | |||
Exploration costs | ₨ (13,600) | ₨ 6,168 | ₨ 3,061 |
Development costs | 8,195 | 8,640 | 41,677 |
Total | (5,405) | 14,808 | 44,738 |
Sri Lanka [member] | |||
Disclosure Of Costs Incurred Expended And Capitalized Oil And Natural Gas [line items] | |||
Exploration costs | 6 | 4 | 5 |
Development costs | 0 | 0 | |
Total | 6 | 4 | 5 |
South Africa [member] | |||
Disclosure Of Costs Incurred Expended And Capitalized Oil And Natural Gas [line items] | |||
Exploration costs | 0 | 1 | 9 |
Development costs | 0 | 0 | |
Total | ₨ 0 | ₨ 1 | ₨ 9 |
Supplementary Information on _5
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) - Summary in Tabular Form of Operating Profit After Tax From Oil and Natural Gas Producing Activities Excluding Overheads and Interest Costs (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2022 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) | |
Revenues | ||||
Total Income | ₨ 1,349,845 | $ 17,792 | ₨ 913,901 | ₨ 871,023 |
Results before income tax expenses | 360,147 | 4,747 | 166,074 | (68,777) |
Income tax expenses | 103,068 | $ 1,359 | 19,084 | (26,677) |
India [member] | ||||
Revenues | ||||
Sales | 124,301 | 75,308 | 126,608 | |
Transfers | 0 | 0 | 0 | |
Operating Income | 233 | 342 | 188 | |
Total Income | 124,534 | 75,650 | 126,796 | |
Production costs | (59,565) | (39,582) | (50,251) | |
Exploration (expenses)/ reversal | (26,180) | (69) | (22) | |
Depreciation, depletion and amortization and valuation provisions | 39,858 | (21,235) | (175,086) | |
Results before income tax expenses | 78,647 | 14,764 | (98,563) | |
Income tax expenses | (34,741) | (3,031) | 33,868 | |
Results of operations from producing activities (excluding corporate overhead and interest costs) | 43,906 | 11,733 | (64,695) | |
Sri Lanka [member] | ||||
Revenues | ||||
Exploration (expenses)/ reversal | (1) | (1) | (4) | |
Results before income tax expenses | (1) | (1) | (4) | |
Results of operations from producing activities (excluding corporate overhead and interest costs) | (1) | (1) | (4) | |
South Africa [member] | ||||
Revenues | ||||
Sales | 0 | 0 | 0 | |
Transfers | 0 | 0 | 0 | |
Operating Income | 0 | 0 | 0 | |
Total Income | 0 | 0 | 0 | |
Exploration (expenses)/ reversal | (1) | |||
Results before income tax expenses | (1) | |||
Results of operations from producing activities (excluding corporate overhead and interest costs) | ₨ 0 | ₨ 0 | ₨ (1) |
Supplementary Information on _6
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) - Summary in Tabular Form of Annual Changes In the Proved Reserves of Oil and Natural Gas (Detail) | 12 Months Ended | ||
Mar. 31, 2022 MMBbls Bcf | Mar. 31, 2021 Bcf MMBbls | Mar. 31, 2020 Bcf MMBbls | |
Oil [Member] | |||
Reserve Quantities [Line Items] | |||
Beginning balance | MMBbls | 104.3 | 104.04 | 126.83 |
Revisions of previous estimates | MMBbls | (10.23) | 21.47 | 5.4 |
Extensions and discoveries | MMBbls | 0 | 0.67 | 0.04 |
Improved Recovery | MMBbls | 0 | 0 | 0 |
Sales of reserves | MMBbls | 0 | 0 | 0 |
Purchases of reserves | MMBbls | 0 | 0 | 0 |
Production for the year | MMBbls | (19) | (21.88) | (28.23) |
Ending balance | MMBbls | 75.07 | 104.3 | 104.04 |
Natural Gas [Member] | |||
Reserve Quantities [Line Items] | |||
Beginning balance | Bcf | 109.78 | 119.03 | 95.37 |
Revisions of previous estimates | Bcf | (14.57) | 9.21 | 42.37 |
Extensions and discoveries | Bcf | 1.12 | 0 | 0 |
Improved Recovery | Bcf | 0 | 0 | 0 |
Sales of reserves | Bcf | 0 | 0 | 0 |
Purchases of reserves | Bcf | 0 | 0 | 0 |
Production for the year | Bcf | (20.8) | (18.46) | (18.71) |
Ending balance | Bcf | 75.53 | 109.78 | 119.03 |
India [member] | Oil [Member] | |||
Reserve Quantities [Line Items] | |||
Beginning balance | MMBbls | 104.3 | 104.04 | 126.83 |
Revisions of previous estimates | MMBbls | (10.23) | 21.47 | 5.4 |
Extensions and discoveries | MMBbls | 0 | 0.67 | 0.04 |
Improved Recovery | MMBbls | 0 | 0 | 0 |
Sales of reserves | MMBbls | 0 | 0 | 0 |
Purchases of reserves | MMBbls | 0 | 0 | 0 |
Production for the year | MMBbls | (19) | (21.88) | (28.23) |
Ending balance | MMBbls | 75.07 | 104.3 | 104.04 |
India [member] | Natural Gas [Member] | |||
Reserve Quantities [Line Items] | |||
Beginning balance | Bcf | 109.78 | 119.03 | 95.37 |
Revisions of previous estimates | Bcf | (14.57) | 9.21 | 42.37 |
Extensions and discoveries | Bcf | 1.12 | 0 | 0 |
Improved Recovery | Bcf | 0 | 0 | 0 |
Sales of reserves | Bcf | 0 | 0 | 0 |
Purchases of reserves | Bcf | 0 | 0 | 0 |
Production for the year | Bcf | (20.8) | (18.46) | (18.71) |
Ending balance | Bcf | 75.53 | 109.78 | 119.03 |
Sri Lanka [member] | Oil [Member] | |||
Reserve Quantities [Line Items] | |||
Beginning balance | MMBbls | 0 | 0 | 0 |
Revisions of previous estimates | MMBbls | 0 | 0 | 0 |
Extensions and discoveries | MMBbls | 0 | 0 | 0 |
Improved Recovery | MMBbls | 0 | 0 | 0 |
Sales of reserves | MMBbls | 0 | 0 | 0 |
Purchases of reserves | MMBbls | 0 | 0 | 0 |
Production for the year | MMBbls | 0 | 0 | 0 |
Ending balance | MMBbls | 0 | 0 | 0 |
Sri Lanka [member] | Natural Gas [Member] | |||
Reserve Quantities [Line Items] | |||
Beginning balance | Bcf | 0 | 0 | 0 |
Revisions of previous estimates | Bcf | 0 | 0 | 0 |
Extensions and discoveries | Bcf | 0 | 0 | 0 |
Improved Recovery | Bcf | 0 | 0 | 0 |
Sales of reserves | Bcf | 0 | 0 | 0 |
Purchases of reserves | Bcf | 0 | 0 | 0 |
Production for the year | Bcf | 0 | 0 | 0 |
Ending balance | Bcf | 0 | 0 | 0 |
South Africa [member] | Oil [Member] | |||
Reserve Quantities [Line Items] | |||
Beginning balance | MMBbls | 0 | 0 | 0 |
Revisions of previous estimates | MMBbls | 0 | 0 | 0 |
Extensions and discoveries | MMBbls | 0 | 0 | 0 |
Improved Recovery | MMBbls | 0 | 0 | 0 |
Sales of reserves | MMBbls | 0 | 0 | 0 |
Purchases of reserves | MMBbls | 0 | 0 | 0 |
Production for the year | MMBbls | 0 | 0 | 0 |
Ending balance | MMBbls | 0 | 0 | 0 |
South Africa [member] | Natural Gas [Member] | |||
Reserve Quantities [Line Items] | |||
Beginning balance | Bcf | 0 | 0 | 0 |
Revisions of previous estimates | Bcf | 0 | 0 | 0 |
Extensions and discoveries | Bcf | 0 | 0 | 0 |
Improved Recovery | Bcf | 0 | 0 | 0 |
Sales of reserves | Bcf | 0 | 0 | 0 |
Purchases of reserves | Bcf | 0 | 0 | 0 |
Production for the year | Bcf | 0 | 0 | 0 |
Ending balance | Bcf | 0 | 0 | 0 |
Supplementary Information on _7
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) - Additional Information (Detail) - MMBbls | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ||||
Tax rate effect from change in tax rate | 10% | |||
Million barrel of oil equivalent [member] | ||||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ||||
Proved developed and undeveloped reserves revisions made during the year | 12.66 | 23.01 | 12.47 | |
Proved developed and undeveloped reserves improved production performance | 7.33 | 9.66 | 8.94 | |
Proved developed and undeveloped reserves revision in commodity prices | 19.99 | 13.35 | 3.53 | |
Proved developed and undeveloped reserves production | 22.46 | 24.96 | 31.35 | |
Proved developed and undeveloped reserves | 87.66 | 122.6 | 123.88 | 142.72 |
Cbos one and two production development and exploration [member] | Million barrel of oil equivalent [member] | ||||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ||||
Proved developed and undeveloped reserves revisions made during the year | 0.55 | 0.51 | 0.06 | |
KG-ONN-2003/1 [member] | Million barrel of oil equivalent [member] | ||||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ||||
Proved developed and undeveloped reserves revisions made during the year | 0 | 0.16 | ||
Rjon ninety exploration development and production [member] | Million barrel of oil equivalent [member] | ||||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ||||
Proved developed and undeveloped reserves revisions made during the year | 13.9 | 21.41 | 12.23 | |
Ravva block - Exploration and production [member] | Million barrel of oil equivalent [member] | ||||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ||||
Proved developed and undeveloped reserves revisions made during the year | 0.68 | 1.09 | 0.34 | |
Saraswati four basement filed [member] | Million barrel of oil equivalent [member] | ||||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ||||
Proved developed and undeveloped reserves extensions discoveries and additions | 0.04 | |||
Nl and rageeshwari south one fields [member] | Million barrel of oil equivalent [member] | ||||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ||||
Proved developed and undeveloped reserves extensions discoveries and additions | 0.67 | |||
Hazarigaon block [member] | Million barrel of oil equivalent [member] | ||||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | ||||
Proved developed and undeveloped reserves extensions discoveries and additions | 0.19 |
Supplementary Information on _8
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) - Summary of Net Proved Developed and Undeveloped Reserves (Detail) | Mar. 31, 2022 MMBbls Bcf | Mar. 31, 2021 Bcf MMBbls | Mar. 31, 2020 Bcf MMBbls |
Oil [Member] | |||
Reserve Quantities [Line Items] | |||
Total net proved developed reserves | MMBbls | 64.91 | 98.96 | 91.49 |
Total net proved undeveloped reserves | MMBbls | 10.17 | 5.34 | 12.55 |
Natural Gas [Member] | |||
Reserve Quantities [Line Items] | |||
Total net proved developed reserves | Bcf | 67.77 | 98.75 | 100.45 |
Total net proved undeveloped reserves | Bcf | 7.75 | 11.02 | 18.57 |
India [member] | Oil [Member] | |||
Reserve Quantities [Line Items] | |||
Total net proved developed reserves | MMBbls | 64.91 | 98.96 | 91.49 |
Total net proved undeveloped reserves | MMBbls | 10.17 | 5.34 | 12.55 |
India [member] | Natural Gas [Member] | |||
Reserve Quantities [Line Items] | |||
Total net proved developed reserves | Bcf | 67.77 | 98.75 | 100.45 |
Total net proved undeveloped reserves | Bcf | 7.75 | 11.02 | 18.57 |
Sri Lanka [member] | Oil [Member] | |||
Reserve Quantities [Line Items] | |||
Total net proved developed reserves | MMBbls | 0 | 0 | 0 |
Total net proved undeveloped reserves | MMBbls | 0 | 0 | 0 |
Sri Lanka [member] | Natural Gas [Member] | |||
Reserve Quantities [Line Items] | |||
Total net proved developed reserves | Bcf | 0 | 0 | 0 |
Total net proved undeveloped reserves | Bcf | 0 | 0 | 0 |
South Africa [member] | Oil [Member] | |||
Reserve Quantities [Line Items] | |||
Total net proved developed reserves | MMBbls | 0 | 0 | 0 |
Total net proved undeveloped reserves | MMBbls | 0 | 0 | 0 |
South Africa [member] | Natural Gas [Member] | |||
Reserve Quantities [Line Items] | |||
Total net proved developed reserves | Bcf | 0 | 0 | 0 |
Total net proved undeveloped reserves | Bcf | 0 | 0 | 0 |
Supplementary Information on _9
Supplementary Information on Oil and Gas Exploration and Production (Unaudited) - Summary of Standardized Measure of Future Net Cash Flows Relating to Reserves (Detail) - INR (₨) ₨ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | |||
Future cash inflows | ₨ 489,013 | ₨ 333,722 | ₨ 493,984 |
Future production costs | (258,748) | (232,675) | (301,972) |
Future development costs | (46,791) | (31,722) | (28,465) |
Future income tax expenses | (55,714) | (10,603) | (43,544) |
Undiscounted future net cash flows | 127,760 | 58,722 | 120,003 |
10 percent midyear annual discount for timing of estimated cash flows | (33,306) | (19,577) | (33,298) |
Standardized measure of discounted future net cash flows | 94,454 | 39,145 | 86,705 |
Beginning balance | 39,145 | 86,705 | 114,044 |
Sales and transfers of oil and gas, net of production cost | (65,680) | (35,349) | (80,409) |
Development cost incurred | 10,590 | 8,720 | 39,114 |
Net change due to purchases and sales of minerals in place | 0 | 0 | 0 |
Net change due to extensions, discoveries and improved recovery less related costs | 8 | 354 | 43 |
Net change due to revisions in quantity estimates | (22,829) | 12,944 | 13,595 |
Net change in prices, transfer prices and in production cost | 116,478 | (58,612) | (35,288) |
Changes in estimated future development costs | 45,813 | (13,021) | (436) |
Accretion of discount | 4,974 | 13,026 | 18,193 |
Net change in income taxes | (34,045) | 24,378 | 17,849 |
Timing | 0 | 0 | 0 |
Ending balance | 94,454 | 39,145 | 86,705 |
India [member] | |||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | |||
Future cash inflows | 489,013 | 333,722 | 493,984 |
Future production costs | (258,748) | (232,675) | (301,972) |
Future development costs | (46,791) | (31,722) | (28,465) |
Future income tax expenses | (55,714) | (10,603) | (43,544) |
Undiscounted future net cash flows | 127,760 | 58,722 | 120,003 |
10 percent midyear annual discount for timing of estimated cash flows | (33,306) | (19,577) | (33,298) |
Standardized measure of discounted future net cash flows | 94,454 | 39,145 | 86,705 |
Beginning balance | 39,145 | 86,705 | 114,044 |
Sales and transfers of oil and gas, net of production cost | (65,680) | (35,349) | (80,409) |
Development cost incurred | 10,590 | 8,720 | 39,114 |
Net change due to purchases and sales of minerals in place | 0 | 0 | 0 |
Net change due to extensions, discoveries and improved recovery less related costs | 8 | 354 | 43 |
Net change due to revisions in quantity estimates | (22,829) | 12,944 | 13,595 |
Net change in prices, transfer prices and in production cost | 116,478 | (58,612) | (35,288) |
Changes in estimated future development costs | 45,813 | (13,021) | (436) |
Accretion of discount | 4,974 | 13,026 | 18,193 |
Net change in income taxes | (34,045) | 24,378 | 17,849 |
Timing | 0 | 0 | 0 |
Ending balance | 94,454 | 39,145 | 86,705 |
Sri Lanka [member] | |||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | |||
Future cash inflows | 0 | 0 | 0 |
Future production costs | 0 | 0 | 0 |
Future development costs | 0 | 0 | 0 |
Future income tax expenses | 0 | 0 | 0 |
Undiscounted future net cash flows | 0 | 0 | 0 |
10 percent midyear annual discount for timing of estimated cash flows | 0 | 0 | 0 |
Standardized measure of discounted future net cash flows | 0 | 0 | 0 |
Beginning balance | 0 | 0 | 0 |
Sales and transfers of oil and gas, net of production cost | 0 | 0 | 0 |
Development cost incurred | 0 | 0 | 0 |
Net change due to purchases and sales of minerals in place | 0 | 0 | 0 |
Net change due to extensions, discoveries and improved recovery less related costs | 0 | 0 | |
Net change due to revisions in quantity estimates | 0 | 0 | 0 |
Net change in prices, transfer prices and in production cost | 0 | 0 | 0 |
Changes in estimated future development costs | 0 | 0 | 0 |
Accretion of discount | 0 | 0 | 0 |
Net change in income taxes | 0 | 0 | 0 |
Timing | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 |
South Africa [member] | |||
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items] | |||
Future cash inflows | 0 | 0 | 0 |
Future production costs | 0 | 0 | 0 |
Future development costs | 0 | 0 | 0 |
Future income tax expenses | 0 | 0 | 0 |
Undiscounted future net cash flows | 0 | 0 | 0 |
10 percent midyear annual discount for timing of estimated cash flows | 0 | 0 | 0 |
Standardized measure of discounted future net cash flows | 0 | 0 | 0 |
Beginning balance | 0 | 0 | 0 |
Sales and transfers of oil and gas, net of production cost | 0 | 0 | 0 |
Development cost incurred | 0 | 0 | 0 |
Net change due to purchases and sales of minerals in place | 0 | 0 | 0 |
Net change due to extensions, discoveries and improved recovery less related costs | 0 | 0 | |
Net change due to revisions in quantity estimates | 0 | 0 | 0 |
Net change in prices, transfer prices and in production cost | 0 | 0 | 0 |
Changes in estimated future development costs | 0 | 0 | 0 |
Accretion of discount | 0 | 0 | 0 |
Net change in income taxes | 0 | 0 | |
Timing | 0 | 0 | 0 |
Ending balance | ₨ 0 | ₨ 0 | ₨ 0 |