Britannia Industries Limited Annual Report 2023-24 Corporate Overview | Statutory Reports | Financial Statements

STANDALONE BALANCE SHEET STANDALONE STATEMENT OF PROFIT AND LOSS

(All amounts ` in Crores, unless otherwise stated) (All amounts ` in Crores, unless otherwise stated)
As at Note 31 March 2024 31 March 2023
I Assets
For the year ended Note 31 March 2024 31 March 2023
(1) Non-current assets I Revenue from operations
(a) Property, plant and equipment 4 2,365.04 2,220.21 Sale of goods 26 15,938.87 15,285.12
(b) Capital work-in-progress 4 187.48 104.47
(c) Investment property 5 46.75 60.50 Other operating revenues 26 247.21 333.30
(d) Intangible assets 6 9.38 12.75 16,186.08 15,618.42
(e) Financial assets II Other income 27 210.11 220.59
(i) Investments 7 1,080.04 1,525.18
(ii) Loans receivable 8 - 150.00 III Total Income (I+II) 16,396.19 15,839.01
(iii) Other financial assets 9 13.25 12.96
(f) Deferred tax assets (net) 35 35.62 48.31
IV Expenses:
(g) Tax assets (net) 35 60.03 39.63
(h) Other non-current assets 10 53.54 43.75 Cost of materials consumed 28 7,394.74 7,084.09
Total non-current assets 3,851.13 4,217.76 Purchases of stock-in-trade 29 2,033.36 2,453.42
Changes in inventories of finished goods, work-in-progress and stock- in-trade 30 0.01 (82.13)
(2) Current assets
(a) Inventories 11 1,075.44 1,074.62 Employee benefits expense 31 565.28 520.55
(b) Financial assets Finance costs 32 151.40 154.95
(i) Investments 12 1,690.68 1,798.47
(ii) Trade receivables 13 347.05 278.42
Depreciation and amortisation expense 4, 5, 6 271.19 195.10
(iii) Cash and cash equivalents 14 240.85 9.09 Other expenses 33 3,121.87 2,900.70
(iv) Bank balances other than (iii) above 14 56.65 54.76 Total expenses 13,537.85 13,226.68
(v) Loans receivable 15 460.00 560.00
(vi) Other financial assets 16 521.58 449.90 V Profit before exceptional items and tax (III-IV) 2,858.34 2,612.33
(c) Other current assets 17 121.05 163.08 VI Exceptional items [Expense/(Income)] 34 2.90 (227.74)
(d) Assets held-for-sale 48 6.41 32.36 VII Profit before tax (V-VI) 2,855.44 2,840.07
Total current assets 4,519.71 4,420.70
Total assets 8,370.84 8,638.46 VIII Tax expense/(credit) :
II Equity and liabilities (i) Current tax 35 760.70 708.50
(1) Equity (ii) Deferred tax 35 12.69 (7.73)
(a) Equity share capital 18 24.09 24.09
(b) Other equity 19 3,503.43 3,157.06 773.39 700.77
Total equity 3,527.52 3,181.15
(2) Liabilities
IX Profit for the year (VII-VIII) 2,082.05 2,139.30
(A) Non-current liabilities
(a) Financial liabilities X Other comprehensive (loss)/income
(i) Borrowings 20 (a) 904.17 1,551.02 Items that will not be reclassified to profit or loss
(ii) Lease liabilities 20 (b) 0.50 0.76
Remeasurements of the net defined benefit (liability)/asset (1.96) 0.30
(iii) Other financial liabilities 21 65.57 60.15
Total non-current liabilities 970.24 1,611.93 Income-tax relating to items not to be reclassified to profit or loss 0.53 (0.08)
(B) Current liabilities Other comprehensive (loss)/income, net of tax (1.43) 0.22
(a) Financial liabilities
(i) Borrowings 20 (a) 1,132.97 1,110.76
(ii) Lease liabilities 20 (b) 2.00 1.17 XI Total comprehensive income for the year (IX+X) 2,080.62 2,139.52
(iii) Trade payables 22
(a) total outstanding dues of micro enterprises and small enterprises 30.67 43.92
(b) total outstanding dues of creditors other than micro enterprises and small enterprises 1,482.47 1,264.84 Earnings per share (face value of ` 1 each) 42
(iv) Other financial liabilities 23 437.14 692.63 Basic [in `] 86.44 88.82
(b) Other current liabilities 24 148.41 157.39
Diluted [in `] 86.44 88.82
(c) Provisions 25 551.19 508.86
(d) Tax liabilities (net) 35 88.23 65.81 Weighted average number of equity shares used in computing earnings per share:
Total current liabilities 3,873.08 3,845.38 - Basic 24,08,68,296 24,08,68,296
Total liabilities 4,843.32 5,457.31
Total equity and liabilities 8,370.84 8,638.46
- Diluted 24,08,68,296 24,08,68,296
Material accounting policies 3 Material accounting policies 3
See accompanying notes to the standalone financial statements See accompanying notes to the standalone financial statements
As per our report of even date attached As per our report of even date attached
for Walker Chandiok & Co LLP for and on behalf of the Board of Directors for Walker Chandiok & Co LLP for and on behalf of the Board of Directors
Chartered Accountants Chartered Accountants
Firm registration number: 001076N/N500013 Nusli N Wadia Varun Berry Firm registration number: 001076N/N500013 Nusli N Wadia Varun Berry
Chairman Executive Vice-Chairman and Managing Director Chairman Executive Vice-Chairman and Managing Director
(DIN: 00015731) (DIN: 05208062) (DIN: 00015731) (DIN: 05208062)
Aasheesh Arjun Singh Rajneet Singh Kohli N.Venkataraman T.V.Thulsidass Aasheesh Arjun Singh Rajneet Singh Kohli N.Venkataraman T.V.Thulsidass
Partner Executive Director and Executive Director and Company Secretary Partner Executive Director and Executive Director and Company Secretary
Chief Executive Officer Chief Financial Officer (Membership number: A20927) Chief Executive Officer Chief Financial Officer (Membership number: A20927)
Membership number: 210122 (DIN: 09743554) (DIN: 05220857) Membership number: 210122 (DIN: 09743554) (DIN: 05220857)
Place : Mumbai Place : Mumbai Place : Mumbai Place : Mumbai
Date : 3 May 2024 Date : 3 May 2024 Date : 3 May 2024 Date : 3 May 2024

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STANDALONE STATEMENT OF CHANGES IN EQUITY
(All amounts ` in Crores, unless otherwise stated)
Equity share Other equity Total
capital Reserves and Surplus equity
attributable
Particulars Securities Retained Capital Capital Debenture Remeasurement to equity
premium earnings reserve redemption redemption of the net holders
reserve reserve defined benefit of the
(liability)/asset Company
Balance as at 1 April 2023 24.09 244.98 2,907.69 0.43 3.96 - - 3,181.15
Britannia Industries Limited

Changes in equity for the year ended 31 March 2024

Dividends - - (1,734.25) - - - - (1,734.25)
Other comprehensive loss for the year, net of tax - - - - - - (1.43) (1.43)
Transfer to retained earnings from remeasurement of the - - (1.43) - - - 1.43 -
net defined benefit (liability)/asset
Profit for the year - - 2,082.05 - - - - 2,082.05
Balance as at 31 March 2024 24.09 244.98 3,254.06 0.43 3.96 - - 3,527.52

Equity share Other equity Total

capital Reserves and Surplus equity
attributable
Particulars Securities Retained Capital Capital Debenture Remeasurement to equity
premium earnings reserve redemption redemption of the net holders
reserve reserve defined benefit of the
(liability)/asset Company
Balance as at 1 April 2022 24.09 244.98 1,953.48 0.43 3.96 180.24 (4.64) 2,402.54
Changes in equity for the year ended 31 March 2023
Dividends - - (1,360.91) - - - - (1,360.91)
Utilization on repayment of bonus debentures - - 180.24 - - (180.24) - -
Other comprehensive income for the year, net of tax - - - - - - 0.22 0.22
Transfer to retained earnings from remeasurement of the - - (4.42) - - - 4.42 -
net defined benefit (liability)/asset
Profit for the year - - 2,139.30 - - - - 2,139.30
Balance as at 31 March 2023 24.09 244.98 2,907.69 0.43 3.96 - - 3,181.15
See accompanying notes to the standalone financial statements
See accompanying notes to the standalone financial statements
As per our report of even date attached
for Walker Chandiok & Co LLP for and on behalf of the Board of Directors
Chartered Accountants
Firm registration number: 001076N/N500013 Nusli N Wadia Varun Berry
Chairman Executive Vice-Chairman and Managing Director
(DIN: 00015731) (DIN: 05208062)
Aasheesh Arjun Singh Rajneet Singh Kohli N.Venkataraman T.V.Thulsidass
Partner Executive Director and Executive Director and Company Secretary
Chief Executive Officer Chief Financial Officer (Membership number: A20927)
Membership number: 210122 (DIN: 09743554) (DIN: 05220857)
Annual Report 2023-24

Place : Mumbai Place : Mumbai

Date : 3 May 2024 Date : 3 May 2024
Changes in
and loss

Bad debts

Inventories
Adjustments for :

Interest paid
Finance costs
For the year ended

Interest income
Profit before tax

intangible assets

Interest received
Trade receivables
Dividend income

Dividend received
Investment in joint venture

Proceeds from lease liabilities

Cash flow from investing activities

Cash flow from financing activities

Cash flow from operating activities

Income-tax paid, net of refund

Change in other bank balances

Interest paid on lease liabilities

Inter- corporate deposits placed
Inter-corporate deposits redeemed
Cash generated from operating activities

Principal payment of lease liabilities

Purchase of non-current investments
Other financial assets and other assets

Repayment of non-current borrowings

Depreciation and amortisation expense

Net cash generated from operating activities

Profit on sale of investment (Refer note 34)

Sale / (Purchase) of current investments, net

Profit on sale of property, plant and equipment

Proceeds from sale of equity shares in subsidiary

Net cash generated from / (used in) investing activities

Proceeds from sale / redemption of non-current investments
Trade payables, other financial liabilities, other liabilities and provisions

Acquisition of property, plant and equipment, capital work-in-progress and

Proceeds from sale of property, plant and equipment and assets held-for-sale
Net gain on financial asset measured at fair value through statement of profit
STANDALONE STATEMENT OF CASH FLOWS

(105.00)
(0.14)
1.01
(0.44)
(152.05)
506.76
-
162.39
(1.89)
860.00
(610.00)
-
-
474.75
294.22
(190.90)
64.52
(546.33)
2,233.73
(758.15)
2,991.88
0.20
(20.40)
(68.63)
(0.82)
3,081.53
151.40
-
(170.90)
-
-
(0.46)
(25.14)
271.19
2,855.44

(52.50)
(0.12)
2.69
(1.36)
(182.10)
(1,386.44)
21.14
159.07
(12.44)
938.00
(850.00)
262.05
(214.91)
(1,179.51)
443.27
(341.40)
77.76
(689.47)
2,442.05
(714.42)
3,156.47
330.06
(79.83)
(29.52)
177.02
2,758.74
154.95
4.95
(151.58)
(15.03)
(227.74)
(0.68)
(41.30)
195.10
2,840.07
31 March 2024 31 March 2023
(All amounts ` in Crores, unless otherwise stated)

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Corporate Overview | Statutory Reports | Financial Statements
Britannia Industries Limited Annual Report 2023-24 Corporate Overview | Statutory Reports | Financial Statements

NOTES TO STANDALONE FINANCIAL STATEMENTS

STANDALONE STATEMENT OF CASH FLOWS (CONTINUED)

(All amounts ` in Crores, unless otherwise stated) 1 Corporate Information

For the year ended 31 March 2024 31 March 2023 Britannia Industries Limited (the ‘Company’) is a company domiciled in India, with its registered office situated at
Repayment of bonus debentures - (720.95) 5/1A, Hungerford Street, Kolkata, West Bengal - 700017. The Company has been incorporated under the provisions of
Proceeds from non-current borrowings 200.00 1,010.00 Indian Companies Act and its equity shares are listed on the National Stock Exchange (NSE) and the Bombay Stock
(Repayment of) / Proceeds from working capital borrowings, net* (719.64) 255.76 Exchange (BSE) in India. The Company is primarily involved in manufacturing and sale of various food products.
Dividends paid (1,732.47) (1,359.24) 2 Basis of preparation
Net cash used in financing activities (2,508.73) (1,047.82)
A. Statement of compliance
Net change in cash and cash equivalents 231.76 7.79
Cash and cash equivalents at beginning of the year (net of bank overdraft) 9.09 1.30 The financial statements of the Company have been prepared in accordance with Indian Accounting Standards
Cash and cash equivalents at end of the year 240.85 9.09 (Ind AS) as per the Companies (Indian Accounting Standards) Rules 2015, as amended, notified under Section
Note: 133 of Companies Act, 2013, (the ‘Act’) and other relevant provisions of the Act.
Cash and cash equivalents at the end of the year [Refer note 14] 240.85 9.09 The standalone financial statements were authorised for issue by the Company’s Board of Directors on 3 May
240.85 9.09 2024.
Details of the Company’s accounting policies are included in Note 3.
Debt reconciliation statement in accordance with Ind AS 7
Current borrowings and Current lease liabilities B. Current and Non-current Classification
Opening balance 1,006.93 759.24 The Company has ascertained its operating cycle as 12 months for the purpose of current / non-current
(Repayment)/Proceeds from borrowings, net (718.81) 247.69 classification of assets and liabilities. This is based on the nature of products and the time between acquisition
Closing balance 288.12 1,006.93 of assets for processing and their realisation in cash and cash equivalents.
C. Functional and presentation currency
Non - current borrowings, Non-current lease liabilities and Current maturities of
long-term debt These standalone financial statements are presented in Indian Rupees (`), which is also the Company’s functional
Opening balance 1,656.78 1,419.50 currency. All amounts have been rounded-off to two decimal places to the nearest crores, unless otherwise
indicated.
(Repayment)/Proceeds from borrowings, net 94.74 237.28
Closing balance 1,751.52 1,656.78 D. Basis of measurement
* Bank Overdraft is shown under cash and cash equivalent as per requirement of IND AS 7, hence proceeds from borrowings The standalone financial statements have been prepared on the historical cost basis except for the following
under financing activity is excluding the movement in bank overdraft. items:
Items Measurement basis
Material accounting policies [Refer note 3]
Certain financial assets and liabilities Fair value
See accompanying notes to the standalone financial statements Cash-settled Phantom Option Scheme Fair value
As per our report of even date attached
for Walker Chandiok & Co LLP for and on behalf of the Board of Directors Net defined benefit (liability) / asset Fair value of plan assets less present value of defined benefit
Chartered Accountants obligations
Firm registration number: 001076N/N500013 Nusli N Wadia Varun Berry
Chairman Executive Vice-Chairman and Managing Director
(DIN: 00015731) (DIN: 05208062) E. Use of estimates and judgements
Aasheesh Arjun Singh Rajneet Singh Kohli N.Venkataraman T.V.Thulsidass
Partner Executive Director and Executive Director and Company Secretary
In preparing these standalone financial statements, the Company has made judgements, estimates and
Chief Executive Officer Chief Financial Officer (Membership number: A20927) assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities,
Membership number: 210122 (DIN: 09743554) (DIN: 05220857) income and expenses. Actual results may differ from these estimates.
Place : Mumbai Place : Mumbai
Date : 3 May 2024 Date : 3 May 2024 Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised prospectively.
Judgements
Information about judgements made in applying accounting policies that have the most significant effects on the
amounts recognised in the standalone financial statements is included in the following notes:
- Note 3(e) and 37 - leases: whether an arrangement contains a lease and lease classification

151 152