163
NOTES FORMING PART OF FINANCIAL STATEMENTS
31.
The Company has joint ventures with (a) Fiat Group Automobiles S.p.A., Italy, Fiat India Automobiles Limited (FIAL), for manufacturing passenger cars, engines and
transmissions at Ranjangaon in India and (b) Cummins Inc, USA, Tata Cummins Limited (TCL), for manufacturing engines in India. The Company has an investment of
`
1,567.04 crores
as at March 31, 2014, representing 50% shareholding in FIAL and
`
90.00 crores
as at March 31, 2014 represting 50% shareholding in TCL.
(a) The proportionate share of assets and liabilities as at March 31, 2014 and income and expenditure for the year 2013-2014 of FIAL as per their unaudited financial
statement are given below :
(
`
in crores)
As on
March 31,
2014
As on
March 31,
2013
2013-2014
2012-2013
RESERVES AND SURPLUS
(189.92)
(298.23)
INCOME
Revenue from operations
1,931.54
1,862.27
NON-CURRENT LIABILITIES
Less : Excise duty
(238.96)
(251.78)
Long-term Borrowings
496.39
634.12
Other operating income
160.92
144.29
Other Long term Liabilities
59.88
41.38
Other Income
28.93
89.49
Long-term Provisions
2.35
5.35
1,882.43
1,844.27
CURRENT LIABILITIES
Short-term Borrowings
197.70
108.01
Trade Payables
247.51
627.58
Other Current Liabilities
224.66
263.18
Short-term Provisions
1.66
3.40
EXPENDITURE
1,230.15
1,683.02
Manufacturing and other expenses
1,460.79
1,340.91
NON-CURRENT ASSETS
Depreciation
132.33
165.67
Fixed Assets
1,281.23
1,386.20
Finance Cost
101.19
179.65
Other long-term Loans and Advances
98.55
81.67
Exchange Loss (net) on revaluation of foreign
Other Non-Current Assets
12.40
20.77
currency borrowings, deposits and loan given
69.28
12.74
Current Assets
870.62
793.71
Tax expenses / (credit)
10.53
(0.39)
2,262.80
2,282.35
1,774.12
1,698.58
Claims not acknowledged as debts
7.36
10.46
Capital Commitments
41.65
21.07
(b)The proportionate share of assets and liabilities as at March 31, 2014 and income and expenditure for the year 2013-2014 of TCL as per their audited financial
statement are given below :
(
`
in crores)
As on
March 31,
2014
As on
March 31,
2013
2013-2014
2012-2013
RESERVES AND SURPLUS
Reserves and Surplus
243.15
204.56
INCOME
Revenue from operations
1,046.28
1,258.76
NON-CURRENT LIABILITIES
Less : Excise duty
(110.41)
(139.46)
Long-term Borrowings
52.87
45.22
Other operating income
4.30
5.21
Deferred tax liabilities
30.47
28.72
Other Income
3.49
4.06
Other Long term Liabilities
0.65
-
Long-term Provisions
19.30
18.09
943.66
1,128.57
CURRENT LIABILITIES
Short-term Borrowings
18.72
8.00
Trade Payables
184.07
150.64
EXPENDITURE
Other Current Liabilities
127.88
83.99
Manufacturing and other expenses
896.33
1,074.20
Short-term Provisions
31.06
35.57
Depreciation
31.06
31.98
465.02
370.23
Finance Cost
2.66
6.91
NON-CURRENT ASSETS
Tax expenses / (credit)
(0.31)
5.68
Fixed Assets
555.93
379.30
929.74
1,118.77
Other Long-term Loans
and Advances
72.67
110.56
Othe Non-Current Assets
9.43
8.10
Current Assets
160.13
166.82
798.16
664.78
Claims not acknowledged as debts
240.40
160.74
Capital Commitments
50.19
147.07
Independent Auditors’Report
Balance Sheet
(134-169)
Statement of Profit and Loss
Cash Flow Statement
Notes to Accounts
