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As at 31 March 2011, the Group’s liabilities have contractual maturities which are summarised below:
Current
Non-Current
Within 6 months 6 to 12 months 1 to 5 years More than 5 years
Trade payable 6,574.06 - - -
Other short-term liabilities 919.88 - - -
Employee benefit obligations - - - 141.02
Provisions - 44.24 - -
The above contractual maturities reflect the gross cash out flows, not discounted at the current values thereby these values
will differ to the carrying values of the liabilities at the date of statement of financial position.
NOTE DD - CAPITAL MANAGEMENT POLICIES AND PROCEDURES
The Group’s capital management objectives are:
to ensure the Group’s ability to continue as a going concern; and
to provide an adequate return to shareholders by pricing products and services commensurately with the level of risk.
The Group monitors capital on the basis of the carrying amount of equity plus its subordinated loan, less cash and cash
equivalents as presented on the face of the statement of financial position. Capital for the reporting periods under review
is summarised as follows:
The Group’s goal in capital management is to maintain a capital-to-overall financing structure ratio as low as possible.
The Group sets the amount of capital in proportion to its overall financing structure, i.e. equity and financial liabilities other
than its subordinated loan. The Group manages the capital structure and makes adjustments to it in the light of changes
in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital
structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new
shares, or sell assets to reduce debt.
31 March 2011
Total equity 20,639.38
Add: Subordinated loan -
Less: Cash and cash equivalents 1,948.72
Capital 18,690.66
Total equity 20,639.38
Add: Borrowings 21,116.45
Overall financing 41,755.83
Capital to overall financing ratio 0.45
NOTE EE - TRANSITION TO INTERNATIONAL FINANCIAL REPORTING STANDARDS
The transition from Indian GAAP to IFRS has been made in accordance with the principles laid down in IFRS 1, First-time
Adoption of International Financial Reporting Standards. As elaborated in Note A-2.2, the Group has voluntarily elected to
use IFRS as permitted by the SEBI Circular along with the additional exemptions provided therein. Accordingly, the Group
has transitioned to IFRS with 1 April 2010 being the date of transition.
1. First-time adoption exemptions applied
Upon transition, IFRS 1 permits certain exemptions from full retrospective application. The Group has applied the
mandatory exceptions and certain optional exemptions, as set out below.
Mandatory exceptions adopted by the Group
i. Financial assets and liabilities that had been de-recognised before 1 April 2010 under Indian GAAP have not been
recognised under IFRS.
ii. The Group has used estimates under IFRS that are consistent with those applied under Indian GAAP (with adjustment
for accounting policy differences) unless there is objective evidence those estimates were in error.
Optional exemptions applied by the Group
i. The Group has elected not to apply IFRS 3R Business Combinations retrospectively to business combinations that
occurred before the date of transition 1 April 2010.
ii. The Group has elected to use fair value as deemed cost at the date of transition for some items of property, plant and
equipment (see Note H).
iii. The Group has elected to use facts and circumstances existing at the date of transition to determine whether an
arrangement contains a lease. No such assessment was done under Indian GAAP.
iv. The Group has elected to designate some financial assets as available-for sale at the date of transition. The Group
has not taken the exemption to designate some financial instruments at fair value through profit or loss.
v. The Group has elected to recognise all cumulative actuarial gains and losses for its defined benefit plans at the date
of transition. Further, the Group has elected to use the exemption not to disclose defined benefit plan surplus/deficit
and experience adjustment before the date of transition.
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