Balance Sheet

as on March 31, 2018

Particulars Notes As on

` in Million
As on March 31, 2017
A. ASSETS
1. Non-current assets
(a) Property, plant and equipment B1
(b) Capital work-in-
progress
(c) Intangible assets B1
(d) Financial assets
i. Investments B2
ii. Loans B3
iii. Other financial assets B4
(e) Other non- B5
current assets
Total non-
current
2. Currentassets
assets
(a) Inventories B6

(b) Financial assets

i. Investments B7
ii. Trade receivables B8
iii. Cash and cash equivalents B9
iv. Bank balances other than (iii) above B10
v. Loans B11
vi. Other financial assets B12
(c) Other current assets B13
Total current assets
Total Assets (1+2)
B. EQUITY AND LIABILITIES
1. Equity
(a) Equity share capital B14
(b) Other equity
Total equity
LIABILITIES
2. Non-current liabilities
(a) Financial liabilities
i. Borrowings B15
ii. Other financial liabilities B16
(b) Provisions B17
(c) Deferred tax liabilities (net) C9
(d) Other non- B18
current liabilities
Total non-
current
3. liabilities
Current liabilities
(a) Financial liabilities
i. Borrowings B19
ii. Trade payables B20
iii. Other financial liabilities B21
(b) Other current liabilities B22
(c) Provisions B23
(d) Current tax liabilities (net) B24
Total current liabilities
 Total Equity and Liabilities (1+2+3)
See accompanying notes forming part of the financial statements
In terms of our report attached For and on behalf of the Board of Directors For
Chartered Accountants
David Jones
ONKAR S. KANWAR NEERAJ KANWAR NIMESH N. KAMPANI
Chairman & Managing Director Vice Chairman & Managing Director Director
Partner GAURAV KUMAR SEEMA THAPAR
Chief Financial Officer
Gurgaon
May 10, 2018

128

Corporate Overvie

Statement of Profit and Loss

for the year ended March 31, 2018
Particulars Notes Year ended

` in Million
Year ended March 31, 2017
 56,793.23 47,709.47
6,717.86 6,214.76
345.45 242.20

16,393.76 10,048.62
19.87 17.11
1,239.53 919.12
1,146.86 1,718.89
82,656.56 66,870.17

17,214.91 17,293.98

13,390.47 3,944.44
5,501.46 3,864.92
2,544.51 1,340.88
60.72 52.93
5,761.64 1,755.15
384.81 342.49
3,910.70 3,295.17
48,769.22 31,889.96
131,425.78 98,760.13

572.05 509.02
72,034.06 52,802.87
72,606.11 53,311.89

18,643.88 8,340.25
131.60 142.64
450.73 391.71
5,443.36 4,927.34
3,433.39 2,884.35
28,102.96 16,686.29

6,474.24 7,840.04
15,125.72 10,407.54
3,193.21 4,961.49
2,341.96 1,293.96
2,651.16 3,229.94
930.42 1,028.98
30,716.71 28,761.95
 131,425.78 98,760.13

n behalf of the Board of Directors For Walker Chandiok & Co LLP

SEEMA THAPAR
Chief Financial Officer Company Secretary

Corporate Overview / Statutory Reports / Financial Statements

1. REVENUE FROM OPERATIONS:
Sales 103,881.26
Other operating income B25 1,664.61
105,545.87
2. OTHER INCOME B26 1,218.49
3. TOTAL INCOME (1 +2) 106,764.36
4. EXPENSES :
(a) Cost of materials consumed B27 62,811.50
(b) Purchase of stock-in-trade B27 2,517.58
(c) Changes in inventories of finished goods, stock-in-trade and work-in-progress B28 125.46
(d) Excise duty on sales C25 2,548.91
(e) Employee benefits expense B27 7,096.78
(f) Finance costs B29 1,375.41
(g) Depreciation and amortisation expense B1 3,643.81
(h) Other expenses B27 17,971.80
Total expenses 98,091.25
5. PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (3 - 4) 8,673.11
6. EXCEPTIONAL ITEMS -
7. PROFIT BEFORE TAX (5 - 6) 8,673.11
8. TAX EXPENSE:
(a) Current tax expense 1,884.66
(b) Deferred tax 564.57
Total 2,449.23
9. NET PROFIT FOR THE YEAR (7 - 8) 6,223.88
10. OTHER COMPREHENSIVE INCOME
I i. Items that will not be reclassified to profit or loss
a. Remeasurements of the defined benefit plans (106.18)
ii. Income tax 36.75
(69.43)
II i. Items that may be reclassified to profit or loss
a. Effective portion of gain / (loss) on designated portion
of hedging instruments in a cash flow hedge 204.43
ii. Income tax (70.75)
133.68
Other comprehensive income (I + II) 64.25
Total comprehensive income for the year (9 + 10) 6,288.13
Earnings per equity share of Re. 1 each - C31
(a) Basic 11.55
(b) Diluted 11.55
See accompanying notes forming part of the financial statements
In terms of our report attached For and on behalf of the Board of Directors For
Chartered Accountants
David Jones
ONKAR S. KANWAR NEERAJ KANWAR NIMESH N. KAMPANI
Chairman & Managing Director Vice Chairman & Managing Director Director
Partner GAURAV KUMAR SEEMA THAPAR
Chief Financial Officer
Gurgaon
May 10, 2018
Apollo Tyres Ltd Annual Report 2017-18
129

Statement of Changes in Equity

OTHER EQUITY
` in Million
Reserves and surplus (refer note C4) Items of other comprehensive income
Particulars
Securities premium reserve
General reserve
Capital reserve on AMHPL
merger
Debenture redemption
reserve
Capital subsidy
Capital redemption
reserve
Capital reserve on forefeiture of
shares
Retained earnings
Effective portion of cash flow
hedge
Revaluation
surplus
Actuarial gain / (loss)
Total

Balance as on March 31, 2016 6,085.71 11,006.63 1,383.68 375.00 25.50 44.40 0.07 27,
Profit for the year 8,027.58 8,027.58

Other comprehensive income (OCI) (11

for the year

Income tax on OCI items 41.07

Total comprehensive income for

the year
8,027.58 (77.59) 8.85 7,958.84
Transaction with owners in their
capacity as owners
Payment of dividend ( ` 2 per share) (1,018.05) (1,018.05)

Tax on dividend (207.25) (207.25)

Transfer from retained earnings 1,000.00 219.12 (1,219.12) -

Transfer to retained earnings (125.00) 125.00 -

Balance as on March 31, 2017 6,085.71 12,006.63 1,383.68 469.12 25.50 44.40 0.07 32,
Profit for the year 6,223.88 6,223.88

Other comprehensive income (OCI) 204

for the year

Income tax on OCI items (70.75)

Total comprehensive income

for the year
6,223.88 133.68 (69.43) 6,288.13
Security premium on issue of shares, net 14,781.01 14,781.01

Transaction with owners in their

capacity as owners
Payment of dividend ( ` 3 per share) (1,527.07) (1,527.07)

Tax on dividend (310.88) (310.88)

Transfer from retained earnings 1,000.00 410.19 (1,410.19) -

Transfer to retained earnings (250.00) 250.00 -

Balance as on March 31, 2018 20,866.72 13,006.63 1,383.68 629.31 25.50 44.40 0.07 35,957.30 57.45 31.22 31.78 72,034.06

In terms of our report attached

For Walker Chandiok & Co LLP
Chartered Accountants
David Jones
ONKAR S. KANWAR NEERAJ KANWAR NIMESH N. KAMPANI
Chairman & Managing Director Vice Chairman & Managing Director Director
Partner GAURAV KUMAR
Chief Financial Officer Company Secretary
Gurgaon
May 10, 2018
 103,881.26 98,066.22
1,664.61 1,170.67
105,545.87 99,236.89
1,218.49 1,353.34
106,764.36 100,590.23

62,811.50 53,132.29
2,517.58 2,209.55
125.46 (3,181.54)
2,548.91 9,899.20
7,096.78 6,207.81
1,375.41 887.84
3,643.81 2,881.99
17,971.80 17,696.75
98,091.25 89,733.89
8,673.11 10,856.34
- -
8,673.11 10,856.34

1,884.66 2,310.28
564.57 518.48
2,449.23 2,828.76
6,223.88 8,027.58

(106.18) 13.53
36.75 (4.68)
(69.43) 8.85

204.43 (118.66)
(70.75) 41.07
133.68 (77.59)
64.25 (68.74)
6,288.13 7,958.84

11.55 15.77
11.55 15.77

of the Board of Directors For Walker Chandiok & Co LLP

EMA THAPAR
Chief Financial Officer Company Secretary
 44.40 0.07 27,023.40 1.36 31.22 92.36 46,069.33

(118.66) 13.53 (105.13)

41.07 (4.68) 36.39

8.85 7,958.84

(1,018.05)

44.40 0.07 32,731.56 (76.23) 31.22 101.21 52,802.87

204.43 (106.18) 98.25

(70.75) 36.75 (34.00)

(69.43) 6,288.13
14,781.01

(1,527.07)

7.45 31.22 31.78 72,034.06

For and on behalf of the Board of Directors

GAURAV KUMAR SEEMA THAPAR
 Corporate Overvie

Cash-Flow Statement - Indirect Method

for the year ended March 31, 2018
Year ended March 31, 2018
Year ended March 31, 2017
` in Million
A CASH FLOW FROM OPERATING ACTIVITIES
(i) Net profit before tax 8,673.11
Add: Adjustments for:

Depreciation and amortisation expenses 3,643.81

(Profit)/loss on sale of property, plant and equipment (net) (1.85)
(Profit) on sale of Investments (0.47)
Dividend from non-current and current investments (45.82)
Provision for constructive liability 95.66
Provision for compensated absences (21.14)
22.50
Provision for superannuation
(140.68)
Change in fair value of investments
(23.31)
Liabilities / provisions no longer required written back (788.13)
Unwinding of deferred income 1,375.41
Finance cost (440.87)
Interest income -
Provision for contingencies (77.68)
Provision for estimated loss on derivatives (56.95) 3,540.48
Unrealised (gain)/loss on foreign exchange fluctuations 12,213.59
(ii) Operating profit before working capital changes
Changes in working capital

Adjustments for (increase) / decrease in operating assets:

Inventories 79.07
Trade receivables (1,553.20)
Loan and advances given (current and non current) (4,016.14)
Other financial assets (current and non current) (60.10)
Other current assets (615.53) (6,165.90)

Adjustments for increase / (decrease) in operating liabilities:

Trade payables 4,714.45
Other financial liabilities 187.79
Other liabilities (current and non current) 983.46
Provisions (616.78) 5,268.92
(iii) Cash generated from operations 11,316.61
Less: Direct taxes paid (net of refund) 1,983.22
Net cash generated from operating activities
9,333.39
B CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment (12,432.20)
Proceeds from sale of property, plant and equipment 311.98
Investments in mutual funds (49.41)
Investment in non-current investment (6,350.62)
Inter corporate deposits matured, net -
Investments in inter corporate deposits, net (9,250)
45.82
Dividends received (current and non current investments)
183.93
Interest received
(27,540.49)
Net cash used in investing activities

Apollo Tyres Ltd Annual Report 2017-18

131
 Corporate Overview / Statutory Reports / Financial Statements

Method

10,856.34

2,881.99
33.96
-
(84.59)
(10.96)
(22.64)
-
-
(63.90)
(329.87)
887.84
(384.73)
365.00
4.93
(244.98) 3,032.05
13,888.39

(7,096.49)
(951.48)
(1,797.15)
26.02
(676.59) (10,495.69)

2,138.16
(53.65)
(69.92)
462.03 2,476.62
5,869.32
2,570.83

3,298.49

(15,584.12)
78.74
(2,222.64)
(3.44)
3,300.00
-
78.50
399.15
(13,953.81)
Cash-Flow Statement - Indirect Method
for the year ended March 31, 2018 (Contd.)
Year ended March 31, 2018
Year ended March 31, 2017
` in Million
C CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issue of shares (net) 14,761.49
Proceeds from non-current borrowings 10,588.11
Repayment of non-current borrowings (1,647.28)
Current borrowings (net) (1,437.61)
Payment of dividend (including dividend tax) (1,837.95)
Finance charges paid (1,088.48)
19,338.28
Net cash generated from financing activities
Net (decrease) / increase in cash and cash equivalents
Cash and cash equivalents as at the beginning of the year 1,131.17
Less: Cash credits as at the beginning of the year 1,340.88
(Gain) / loss on re-statement of foreign currency cash and cash equivalents 71.58
1,269.30
0.65

Adjusted cash and cash equivalents as at

1,269.95
beginning of the year
Cash and cash equivalents as at the end of the year 2,544.51
Less: Cash credits as at the end of the year 143.39
(Gain)/loss on re-statement of foreign currency cash and cash equivalents
2,401.12
-

Adjusted cash and cash equivalents as at the end of the

year 2,401.12

See accompanying notes forming part of the financial statements

In terms of our report attached For and on behalf of the Board of Directors For
Chartered Accountants
David Jones
ONKAR S. KANWAR NEERAJ KANWAR NIMESH N. KAMPANI
Chairman & Managing Director Vice Chairman & Managing Director Director
Partner GAURAV KUMAR SEEMA THAPAR
Chief Financial Officer
Gurgaon
May 10, 2018

132
Method

-
8,000.00
(1,281.85)
4,129.21
(1,225.30)
(561.58)
9,060.48

(1,594.84)
2,867.68
2.55
2,865.13
(0.34)

2,864.79

1,340.88
71.58
1,269.30
0.65

1,269.95

f of the Board of Directors For Walker Chandiok & Co LLP

EEMA THAPAR
Chief Financial Officer Company Secretary