Indian Oil Corporation Limited 3rd Integrated Annual Report 61st Annual Report 2019-20

About the Report

NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS
Note - 33 B : INTEREST IN JOINT VENTURE & ASSOCIATES (Contd...) Note - 33 B : INTEREST IN JOINT VENTURE & ASSOCIATES (Contd...)

Place of % of Ownership Carrying Amount II.A. Summarised Balance Sheet of M/s Indian Oil Petronas Private Limited:
Name of entity (₹ in Crore)
Business Interest (₹ in crore)

Chairman’s Desk
Particulars March 31, 2020 March 31, 2019

From the
Petronet India Limited ( under liquidation) India 18.00% 0.47
Current assets 900.98 865.93
Note - The financials of Joint Operations as mentioned in Note 34 have been included in the financial statements of Indian
Current liabilities 113.81 156.56
Oil Corporation Ltd & Subsidiary Companies and in respect of other Joint Ventures/Associates of Subsidiary Companies, the
same has been included in the financial statements of respective subsidiary company. Non-current assets 876.87 804.16
Non-current liabilities 217.89 157.57

About IndianOil
B. Summarised Financials of Material Joint Venture:
Net assets 1,446.15 1,355.96
I.A. Summarised Balance Sheet of M/s Indian Oiltanking Limited:
(₹ in Crore) Proportion of the Group’s ownership 723.08 677.99

Particulars March 31, 2020 March 31, 2019 Carrying amount of the investment 650.64 605.74

Current assets 987.53 998.88 The above amounts of assets and liabilities include the followings

Description of Capitals
Current liabilities 577.50 720.32
Cash and cash equivalents 153.54 15.99
Non-current assets 3,052.28 3,196.78
Current Financial Liabilities 84.82 131.04
Non-current liabilities 2,191.65 2,340.26
Non-current financial liabilities 137.69 50.08
Net assets 1,270.66 1,135.08
Proportion of the Group’s ownership 627.50 560.55 II.B. Summarised Statement of Profit and Loss of M/s Indian Oil Petronas Private Limited:

Board of Directors, etc.

(₹ in Crore)
Carrying amount of the investment 628.37 561.41
Particulars 2019-2020 2018-2019
The above amounts of assets and liabilities include the followings Revenue From Operations 2,114.41 1,884.28
Cash and cash equivalents 90.36 57.15 Other Income 52.82 46.54
Current Financial Liabilities 465.99 563.57 Revenue From Operations 2,167.23 1,930.82
Non-current financial liabilities 2,099.74 2,268.73 Cost of Material/Service Consumed 1,476.13 1,301.77

Directors’ Report
Employee Benefits Expense 17.42 14.50
I.B. Summarised Statement of Profit and Loss of M/s Indian Oiltanking Limited:
(₹ in Crore) Finance Costs 18.27 11.73

Particulars 2019-2020 2018-2019 Depreciation and amortization expense 48.73 40.58

Revenue From Operations 531.31 598.62 Other Expenses 176.77 165.71

Discussion & Analysis

Other Income 122.41 72.31 Profit/(loss) Before tax 429.91 396.53

Management’s
Revenue From Operations 653.72 670.93 Tax expense:

Cost of Material/Service Consumed 11.53 29.45 Current Tax 108.68 135.02

Employee Benefits Expense 58.50 48.21 Deferred Tax (27.93) 4.89

Finance Costs 220.55 235.54 Profit (Loss) for the year 349.16 256.62

Responsibility Report
Depreciation and amortization expense 29.75 29.73 Other Comprehensive Income (0.52) (0.02)

Business
Other Expenses 204.45 224.85 Total comprehensive income 348.64 256.60

Profit/(loss) Before tax 128.94 103.15 Group's Share in above:

Tax expense: Profit (Loss) for the period 174.58 128.31

Current Tax 11.47 2.24 Other Comprehensive Income (0.26) (0.01)

Corporate Governance
Deferred Tax (16.39) (29.73) Total comprehensive income 174.32 128.30

Report on
Profit (Loss) for the year 133.86 130.66 Dividend received 107.20 26.80

Other Comprehensive Income 1.72 15.63

Total comprehensive income 135.58 146.29
Group's Share in above:

Financial Statements
Consolidated
Profit (Loss) for the period 66.11 64.53
Other Comprehensive Income 0.85 7.79
Total comprehensive income 66.96 72.32
Dividend received - 9.90

364 Financial Statements Financial Statements 365