First The Chunks needs to be generated with the pdfs using ingest/preprocess.py and create chunks.json file
this will use sentence transformer model for chunking and then uses spacy's model en_core_web_lg to get the organization names, which we can filter and stored under tickers on each doc, can be used for matching
a chunks.json file is created, diving the pdfs to chunks and then it has the format of
{
"text": "Date: - 24th June, 2023 SUBJECT: - SUBMISSION OF ANNUAL REPORT Dear Sir / Madam, Pursuant to Regulation 34(1) of the SEBI (LODR) Regulations, 2015, we are pleased to enclose herewith copy of the Annual Report of the Company for the year financial year 2022-23. This is for your information and record. Thanking you, For SONA BLW PRECISION FORGINGS LIMITED Ajay Pratap Singh Vice President (Legal), Company Secretary and Compliance Officer Encl: As above BSE Ltd. Regd. Office: Floor - 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001. National Stock Exchange of India Ltd. Listing Deptt., Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 BSE Scrip Code: 543300 NSE Scrip: SONACOMS AJAY PRATAP SINGH Digitally signed by AJAY PRATAP SINGH Date: 2023.06.24 18:48:59 +05'30' Annual Report 2022-23 Annual Report 2022-23 The future of mobility is E.P.I.C. Mobility as we know it, is undergoing a structural",
"tickers": [
"Regd",
"National Stock Exchange of India Ltd.",
"AJAY PRATAP SINGH Digitally",
"BSE Ltd.",
"SEBI",
"AJAY PRATAP SINGH Date",
"SONA",
"Deptt"
],
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf",
"page_number": 3
}using the chunks.json file ingest them to qdrant db using ingest.py
once data in ingested we can search the data.
we can filter the data to only show the data which has the ticker we want the search function uses llm to generate similar keywords and append them to a string and searches with the string to get nearest rests, then we can filter with the ticker for further more filtering, the filter will convert everything to lowercase with no spaces and check so that TATA MOTORS PVT LTD can match TATA MOTORS (tried fuzzy but it adds a lot latency)
TODO:
then the retrived contexts are sent to llm for summary generation
Time took = 1 m 48.18 s
{
"summary": {
"content": "1. Overall Impact on the Company: Tata Advanced Systems (TAS), a subsidiary of Tata Motors, appears to be heavily involved in the defense sector, manifesting in various collaborations, projects, and defense contracts. The company is engaged in the manufacturing of armored vehicles and defense systems, demonstrating a strong presence in the defense and military industry. The sale of certain assets related to its defense business to Tata Advanced Systems Limited (TASL) indicates an operational realignment within the group's defense entities. This strategic decision could potentially streamline its operations and enhance its focus on its core defense-related activities. Importantly, the company's involvement in the force modernization and military upgrades aligns with the global trend towards the modernization of defense equipment and could further strengthen its market position.\n\n2. Key Financial Aspects: Financially, the sale of defense assets to TASL amounted to `234.09 crores, contributing to the company's revenue stream. However, no specific financial details related to its defense contracts or military projects were disclosed. The company's sustained investment and involvement in defense-related projects underscore its commitment to this sector and indicate a significant portion of its revenue and expenditure might be linked to defense-related activities.\n\n3. Future Outlook and Strategic Moves: Tata Advanced Systems Limited (TAS) seems well-positioned for future growth in the defense sector, given its established presence and ongoing projects. The company's focus on autonomous systems and drone technology aligns with the industry's shift towards unmanned vehicles, suggesting potential future growth areas. The company's engagement in the development of advanced defense systems, including the integration of digital technologies, underpins its innovation-driven approach and could provide a competitive edge in the evolving defense landscape.\n\n4. Risks and Opportunities: While the defense sector offers substantial growth opportunities, it is also subject to various risks, including regulatory changes and geopolitical tensions. The company's significant involvement in this sector could expose it to these uncertainties. However, rising global defense budgets and increasing demand for advanced defense systems could present significant opportunities. For investors, the company's strong position in the defense sector, coupled with its innovative capabilities, could offer potential growth prospects. However, they should also consider the inherent risks associated with this sector.",
"additional_kwargs": {},
"type": "ai",
"name": null,
"id": null,
"example": false
},
"search_result": [
{
"document": "No. Name of the entity 147 PT Mahindra Accelo Steel Indonesia 148 Mahindra Defence Systems Limited 149 Mahindra Emirates Vehicle Armouring FZ-LLC 150 Mahindra Armored Vehicles Jordan, LLC. 151 Mahindra Telephonics Integrated Systems Limited (w.e.f. 17th June, 2022) 152 Mahindra Aerospace Private Limited (w.e.f 29th March, 2023) 153 Mahindra Aerostructures Private Limited (w.e.f 29th March, 2023) 154 Mahindra Aerospace Australia Pty Ltd (w.e.f 29th March, 2023) 155 Gipps Aero Pty Ltd (w.e.f 29th March, 2023) 156 Airvan Flight Services Pty Ltd (w.e.f 29th March, 2023) 157 GA8 Airvan Pty Ltd (w.e.f 29th March, 2023) 158 GA200 Pty Ltd (w.e.f 29th March, 2023) 159 Nomad Tc Pty Ltd (w.e.f 29th March, 2023) 160 Airvan 10 Pty Ltd (w.e.f 29th March, 2023) 161 Mahindra Consulting Engineers Limited (upto 16th March, 2023) 162 Mahindra Consulting Engineers Limited ESOP Trust (upto 16th March, 2023) 163 Mahindra Namaste Limited (upto 16th March, 2023) 164 Mahindra",
"page_number": 342,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "Guarantee/ security etc., in connection with loans provided and Interest, commission and other related income / expenses; 500 0.50% d) Sharing or usage of each other’s resources like employees, infrastructure including IT assets, cloud, IOT and digital engineering, digital transformation, analytics, cyber security, manpower, management and management support services, owned / third party services and reimbursements; 100 0.10% e) Purchase / sale / transfer / exchange / lease of business assets including property, plant and equipment, Intangible assets, transfer of technology to meet the business objectives and requirements; 25 0.025% f) Any transfer of resources, services or obligations to meet its objectives/ requirements. 25 0.025% Note: The value of corporate actions, if any, from CLPL including receipt of dividends, tendering securities as a part of buyback offer, receipt of bonus securities, subscribing to rights issue, etc. by the Company that are uniformly offered/applicable to all shareholders in proportion to their",
"page_number": 33,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "Security CoP was formed and initial work started Set up an external SP advisory body External ESG advisory body with two global experts Annual human rights assessment across all the businesses Aim 2 Empowering over 2.5 million families with enhanced skillsets key performance indicators FY 2025 Goals FY 2030 Goals FY 2023 performance Material matters UN SDGs Skilling (Number of families to be impacted through skill development and training) 1.5 million 2.5 million families 0.6 million families skilled Community Development 2.3, 2.4, 4.4, 8.3 Aim 3 Uplifting over 100 million women and children through Education, Nutrition, Healthcare and Welfare key performance indicators FY 2025 Goals FY 2030 Goals FY 2023 performance Material matters UN SDGs Nand Ghar (Number of Nand Ghars to be completed) 29,000 29,000 4,533+ Nand Ghars built till 31 March 2023 Community Development 2.1, 2.2, 4.1, 4.2 2.3, 2.4, 4.4, 8.3 Education, Nutrition, Healthcare and Welfare (No.",
"page_number": 117,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "and safety, we communicate relevant information regarding 100% of our products and services through safety signs placed in and around substations within customer premises and public areas. We also diligently provide necessary information on regulations, laws and codes for appropriate product labeling and marketing. Notably, during FY23, we maintained complete compliance with regulations and voluntary codes pertaining to product information, labeling and marketing communication. Enhancing Customer Experience Service reliability To ensure uninterrupted power supply to our customers, we continuously monitor our vast distribution networks. Few of the initiatives we undertook include: ¥ Preventive maintenance: Preparation and execution of Annual Patrolling Programme as per IMS criteria ¥ Utilisation of new technologies to strengthen the operations, such as: − Drone patrolling for operational excellence − Voice assisted switchgear for safe RMU operation − Network management application SPINe-Spatial Patrolling Interface − Tower patrolling app deployment across all sites for centralised monitoring and digitalisation",
"page_number": 79,
"pdf_name": "AR_2022_2023.pdf"
},
{
"document": "specified under the Consolidated FDI Policy, including sectoral limits, approval requirements and pricing guidelines, as may be applicable. Furthermore, as part of our automotive business, we supply, and have in the past supplied, vehicles to Indian military and paramilitary forces and in the course of such activities have obtained an industrial license from the Department of Industrial Policy. The Consolidated FDI policy applies different foreign investment restrictions to companies based upon the sector in which they operate. While we believe we are an automobile company by virtue of the significance of our automobile operations, in the event that foreign investment regulations applicable to the defense sector (including under the Consolidated FDI Policy) are made applicable to us, we may face more stringent foreign investment restrictions and other compliance requirements compared to those applicable to us presently, which, in turn, could materially affect our business, prospects, financial condition and results of",
"page_number": 201,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "for data centres. This helps filter out malicious traffic before it impacts the network and servers. DDoS (Distributed Denial of Service) Protection We have deployed a drone-based solution that accurately geotags vehicles in the yard against their unique identification numbers, thereby enabling accurate vehicle tracking, quick navigation and saving significant time and efforts of drivers. Drone-based vehicle inventory management Paint Defect Inspection using computer vision A SMART machine learning model was built and deployed across various plants to bring down hot firing and load testing to 10% and leading to savings of around INR 200 per engine. Smart Engine testing using AI Extensive use of digital manufacturing technologies such as simulations, analytics, 3D factory and collaboration to design and setup world class facilities and deliver best in class products. Digital manufacturing A programme institutionalised to expedite our digital transformation efforts and become a technology leader leveraging advanced analytics and automation",
"page_number": 85,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "20,222 units in FY 2022-23 compared to 34,791 units in FY 2021-22. A major drop was witnessed in SAARC region (down by 62%) driven by total industry volumes softening, forex shortages and liquidity crunch in the latter half of the year. MENA and ASEAN regions witnessed 6% year on year growth in shipments. Non-SAARC markets contributed to 57% of total shipments in FY 2022-23 as compared to 34% in Integrated Report / 2022-23 211 142-304 Statutory Reports 305-551 Financial Statements 1-141 Integrated Report FY 2021-22. Democratic Republic of Congo achieved highest ever shipments of 1,005 units in FY 2022-23; Saudi Arabia hits highest ever shipments of 1,292 units and retails of 1,401 units in FY 2022-23; Vietnam achieves highest ever retails of 998 units in FY 2022-23. TDCV, a subsidiary company engaged in the manufacturing of MHCVs and LCVs, reported an increase of 0.4%, with total units sold reaching",
"page_number": 143,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "to CPI. (b) During the year ended March 31, 2022, Jaguar Land Rover has created a provision of `428.66 crores (£43 million) in relation to customer liabilities arising from sanctions imposed against Russia by many countries, preventing the shipment of vehicles and certain parts to the market. (c) In April 2021, the Company has completed the sale of certain assets related to defence business to Tata Advanced Systems Limited (TASL) for sale consideration of `234.09 crores against the Net Assets of `231.57 crores resulting in a gain of `2.52 crores recorded as an exceptional item in the Consolidated Statement of Profit and Loss for the year ended March 31, 2023. In terms of our report attached For and on behalf of the Board For B S R & Co. LLP N CHANDRASEKARAN [DIN: 00121863] P B BALAJI Chartered Accountants Chairman Group Chief Financial Officer Firm's Registration No: 101248W/W-100022 SHIRAZ VASTANI",
"page_number": 472,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "31,515 542 (660) 1.1% (2.1%) JLR 2,22,860 1,87,697 3,482 (439) 1.6% (0.2%) Financing 4,595 4,585 1,499 2,466 32.6% 53.8% Unallocable 360 314 (158) (62) (43.8%) (19.9%) Inter-Segment eliminations (3,858) (618) (18) (90) 0.5% 14.6% Total 3,42,641 2,75,780 9,041 1,424 2.6% 0.5% In FY 2022-23, Jaguar Land Rover contributed 64% of our total automotive revenue compared to 68% in FY 2021-22 (before intra-segment elimination) and the remaining 36% was contributed by Tata and other brand vehicles and Vehicle Financing in FY 2022-23, compared to 32% in FY 2021-22. This is reflecting higher growth of Tata branded vehicles as compared to Jaguar Land Rover. Other operations Our other operations business segment mainly includes information technology services, machine tools and factory automation solutions. The following table sets forth selected data regarding our other operations for the periods indicated and the percentage change from period to period (before inter-segment eliminations). Particulars FY 2022- 23",
"page_number": 147,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "tooling resulting in superior products compared to competition. c. Development of inhouse capabilities in latest technologies for Hardware, Software, Motor, Validation, Systems Engineering, Functional Safety (A/B), Cybersecurity (L1), etc. d. Implementation of robust design processes to launch products which are safe, robust and technologically relevant such as IS26262 (A/B). e. Ability to co-develop with OEMs and continually improve products to meet changing market needs. 3. In case of imported technology (imported during the last 3 years reckoned from the beginning of the financial year) The Company has not imported technology during the last three years and therefore details including the details of technology imported, the year of import, whether the technology been fully absorbed and if not fully absorbed, areas where absorption has not taken place, and the reasons thereof are not applicable. 4. The expenditure incurred on Research and Development S. No. Particulars Amount (INR in Million) 1. Revenue",
"page_number": 94,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "lose the ability to remain flexible in a dynamic automotive industry, which is key to delivering innovative products and services. The loss of the services of one or more key personnel could impair our ability to implement our business strategy. Any prolonged inability to continue to attract, retain or motivate our workforce could materially and adversely affect our business, financial condition, results of operations and prospects. Any shortages of labor could lead to demands for higher wages, which could increase the labor costs of our business. We may be adversely impacted by terrorism, natural disasters and epidemics. Our products are exported to a number of geographical markets, and we plan to further expand our international operations in the future. Consequently, we are subject to various risks associated with conducting our business both within and outside our domestic market and our operations in markets abroad may be subject to terrorism, natural",
"page_number": 193,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "project management & development and operating of commercial complexes. Hospitality: This segment comprises of sale of timeshare and vacation ownership. Others: This segment mainly comprises of IT Services, after-market, defence, steel trading and processing, logistics, solar, powerol, agri business, two-wheelers, etc. The Chief Operating Decision Maker (“CODM”) evaluates the companies performance and allocates resources based on an analysis of various performance indicators by operating segments. The CODM reviews revenue and gross profit as the performance indicator for all of the operating segments. The measurement of each segment’s revenues, expenses, assets and liabilities is consistent with the accounting policies that are used in preparation of the consolidated financial statements. Segment result represents the profit before interest and tax without allocation of central administration costs, share of profit /(loss) of associates and joint ventures. 41. Related party disclosures (contd.) (b) The related party transactions are as under: (contd.) 392 MAHINDRA &",
"page_number": 447,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "Securities 0.85 3.51 Interest Accrued on Finance Lease Receivable 5.90 6.29 Interest Accrued on Loans to Related Parties 8.36 8.27 Unsecured, considered doubtful Interest Accrued on Inter-corporate/Bank Deposits 1.31 1.40 105.81 90.55 Less: Provision for Doubtful Interest 1.31 1.40 104.50 89.15 (iii) Receivables under Service Concession Agreement 4.66 4.43 (iv) Others Unsecured, considered good Dividend Receivable 1.65 1.78 Derivative Contract (at FVTPL) 115.07 5.06 Receivable on sale of Property, Plant and Equipments 0.78 2.69 Insurance Claims Receivable 0.03 1.55 Government Grants Receivables 16.67 41.70 Recoverable from consumers 27.41 98.68 Other Advances 232.52 216.47 Balances with Banks: (Refer Note below) In Deposit Accounts (with remaining maturity of less than twelve months) 151.00 1.62 Unsecured, considered doubtful Other Receivables 3.58 3.45 548.77 373.00 Less: Allowances for Doubtful Receivables 3.58 3.45 545.19 369.55 Total 688.30 501.45 Note: Balances with Banks held as Margin Money Deposits against Guarantees. 13. Tax Assets As at March",
"page_number": 443,
"pdf_name": "AR_2022_2023.pdf"
},
{
"document": "FY 2021-22. Compared to the prior year, wholesale volumes were higher in all markets led by Overseas 14.2%, Europe 14.1%, UK 8.7%, China 8.5% and North America 2.9%. This increase was driven by the gradual improvement in the supply of semiconductor during the year though constraints on the supply of commercial semiconductor was not completely removed. Given these restrictions on availability of [our products], we have been able to increase our revenue per unit reflecting the prioritisation of higher margin products giving us a strong mix, particularly in the Range Rover and Defender families. Jaguar Land Rover’s performance on a retail basis: Retail sales for FY 2022-23 were 3,54,662 down 5.8% compared to FY 2021-22. Compared to the prior year, retail volumes were higher in the UK 0.9% and down in North America 15.1%, Europe 0.5%, China 5.0% and Overseas 6.3%. This reduction reflected the impact of the chip shortages",
"page_number": 145,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "constraints that impact on Agile squads’ ability to deliver value. Our focus has been on simplifying governance, decision‑making processes, as well as increasing the speed with which impediments are resolved to streamline our products’ time to market. In Delivered Cost per Car, we have continued building on successful cost reduction initiatives across key vehicle programmes. Through technical and feature optimisation, we have driven material cost reduction changes without disrupting programme delivery. The delivery of cost initiatives approved in FY 2022‑23 will continue in FY 2023‑24 to mitigate a reduction in returns on legacy carlines. In Supply Chain, we have continued to deliver end‑to‑end efficiencies and increased operating stability. Throughout FY 2022‑23, we significantly improved our semiconductor supply, with intensive efforts on risk identification and mitigation. Throughout next year, our focus will be on improving operating transparency, stability, and resilience through new technologies with our external partners. In Customer and Market",
"page_number": 37,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "9,222.83 10,042.76 Fixed rate Borrowings (including current maturities) 13,021.98 15,152.63 13,056.36 15,169.26 Derivative Contracts (Net) 17.43 13.12 17.43 13.12 Other Financial Liabilities 4,418.78 2,274.39 4,418.78 2,274.39 28,666.04 31,562.79 28,700.42 31,579.42 # other than investments in subsidiaries, associates and joint ventures accounted at cost in accordance with Ind AS 27 ‘Separate Financial Statements’. Note: Certain unquoted investments are not held for trading, instead they are held for medium or long term strategic purpose. Upon the application of Ind AS 109 'Financial Instruments', the Company has chosen to designate these investments in equity instruments as at FVTOCI as the management believe this provides more meaningful presentation for medium and long term strategic investments, then reflecting changes in fair value immediately in profit or loss. The management assessed that the fair value of cash and cash equivalents, other balances with banks, trade receivables, derivative contracts, loans, unbilled revenues, trade payables, other financial assets",
"page_number": 367,
"pdf_name": "AR_2022_2023.pdf"
},
{
"document": "2,378.48 3,397.18 74.92 18.31 56.61 56.61 - - 100.00 72 Jaguar Land Rover North America, LLC. (subsidiary w.e.f June 2, 2008) USA USD 82.18 328.73 5,081.56 14,835.93 9,425.64 54,531.92 1,003.12 257.89 745.23 745.23 (4.00) - 100.00 73 Jaguar Land Rover Japan Limited (subsidiary w.e.f October 1, 2008) Japan JPY 0.62 29.67 312.73 1,780.31 1,437.91 3,327.70 68.81 (1.62) 70.43 70.43 - - 100.00 74 Jaguar Land Rover Canada, ULC (subsidiary w.e.f June 2, 2008) Canada CAD 60.67 - 262.75 1,646.21 1,383.46 4,999.59 71.73 27.07 44.66 44.66 - - 100.00 Integrated Report / 2022-23 550 (` in crores) Sr. No Subsidiary Country Reporting currency Exchange Rate Share capital (incl. advances towards capital where applicable) Reserves and Surplus Total Assets Total Liabilities Turnover Profit/ (Loss) Before Tax Tax Expense/ (Credit) Profit/(Loss) after tax Profit/ (Loss) for the period/ year * Proposed dividend and tax thereon Investments (except in case of investment in",
"page_number": 482,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "and loss (Charged) / credited to other compre- hensive income Exchange gain/ (loss) on translation of foreign operations As at 31 March, 2022 Provision for employee benefits (including Voluntary Retirement Scheme) 35.96 (35.85) 0.09 (0.07) - 0.13 Allowance for receivables, loans and advances 96.23 (77.92) 7.02 - - 25.33 Provision for contingencies and claims 8.55 (8.04) - - - 0.51 Unpaid statutory liabilities 3.31 (3.31) - - - - Government Grant 1.70 (1.70) - - - - Estimated Loss on Projects 1.15 (0.98) 0.79 - - 0.96 Unutilised brought forward loss and unabsorbed depreciation 6.79 - (6.41) - - 0.38 MAT credit entitlement 13.58 - 2.73 - - 16.31 Free Maintenance services 6.06 (6.06) - - - - Others 0.91 (0.86) 0.33 - - 0.38 Deferred Tax Assets 174.24 (134.72) 4.55 (0.07) - 44.00 12. DEFERRED TAX (Contd.) CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS Annual Report 2022-23 247 `",
"page_number": 250,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "it is derecognised. Integrated Report / 2022-23 440 Notes forming part of Consolidated Financial Statements (B) Property, plant and equipment (` in crores) Owned assets Given on lease Land Buildings Plant and equipment Furniture and fixtures Vehicles Computers Heritage Assets Land Buildings Plant and equipment Vehicles Total Cost as at April 1, 2022 7,456.81 28,644.08 147,024.91 1,815.70 411.18 2,933.15 301.66 21.58 35.60 5.16 142.13 188,791.96 Additions - 721.02 5,265.88 72.56 30.84 333.07 - - - 0.77 24.17 6,448.31 Additions on account of Ford plant acquisition (refer note below) 331.92 176.25 - - - - - 45.08 74.46 - - 627.71 Assets classified as held for sale (95.57) (520.13) - - - - (18.65) - - - - (634.35) Disposal/Adjustments - (146.78) (2,864.76) (18.48) (74.65) (19.64) (37.97) - (4.02) (0.19) (37.63) (3,204.12) Currency translation differences 63.80 696.92 2,781.32 39.51 4.18 62.85 0.24 - - - - 3,648.82 Cost as at",
"page_number": 372,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "(29.55) (29.55) - - 100.00 56 Jaguar Land Rover Ireland (Services) Limited Ireland GBP 101.64 0.00 252.59 288.53 35.94 392.81 85.99 8.45 77.54 77.54 - - 100.00 57 Limited Liability Company Jaguar Land Rover (Russia) (incorporated on 25-5-2008) (subsidiary w.e.f May 15, 2009) Russia RUB 1.06 5.13 430.29 746.18 310.76 274.61 (74.94) 49.19 (124.13) (124.13) - - 100.00 58 Jaguar Land Rover (China) Investment Co Ltd (previously Jaguar Land Rover Automotive Trading (Shanghai) Co. Ltd ) (subsidiary w.e.f June 2, 2008) China CNY 11.96 80.15 17,614.75 23,968.23 6,273.32 32,067.56 4,008.51 962.90 3,045.61 3,045.61 - - 100.00 59 Shanghai Jaguar Land Rover Automotive Service Co. Ltd (subsidiary w.e.f March 10, 2014) China CNY 11.96 19.14 (26.34) 13.44 20.64 13.77 0.99 0.05 0.94 0.94 - - 100.00 60 Jaguar Land Rover Colombia SAS (subsidiary w.e.f August 22, 2016) Columbia COP 0.02 39.78 (7.45) 32.39 0.06 - 5.46 - 5.46 5.46 - -",
"page_number": 481,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "5,159.74 2,041.51 983.43 2,496.48 5,521.42 5,521.42 Financial liabilities Borrowings - - 285.28 285.28 285.28 - - 126.04 126.04 126.04 Lease Liabilities - - 29.73 29.73 29.73 - - 13.75 13.75 13.75 Trade payables - - 2,209.79 2,209.79 2,209.79 - - 2,682.02 2,682.02 2,682.02 Other financial liabilities 0.25 - 128.98 129.23 129.23 0.33 - 117.79 118.12 118.12 0.25 - 2,653.78 2,654.03 2,654.03 0.33 - 2,939.60 2,939.93 2,939.93 *The above Investments does not include equity investments in subsidiaries, associates and joint ventures which are carried at costs and hence are not required to be disclosed as per Ind AS 107 “Financial Instruments Disclosures”. Management has assessed that Cash and cash equivalents, Other balances with banks, Loans, Trade receivables, Other financial assets, Borrowings, Lease liabilities, Trade payables and Other financial liabilities carried at amortised cost approximate their carrying amounts largely due to the short-term maturities of these instruments. Abbreviations : FVTPL - Fair",
"page_number": 383,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "/ services for execution of contracts 77.30 - 6.85 - 0.03 - - - 84.18 2021-22 113.32 - 19.59 - - - - - 132.91 16 2022-23 Deputation Charges paid 4.07 - 3.38 - - - - - 7.45 2021-22 - - - - - - - - - 17 2022-23 Impairment in value of investment - - - - - - - - - 2021-22 - - 0.25 - - - - - 0.25 18 2022-23 Security Deposit Refunded - - - - - - - - - 2021-22 - - - - 4.48 - - - 4.48 19 2022-23 Other Expenses- Recovery of expenses 21.39 - 39.44 - 0.28 - - - 61.11 2021-22 13.11 - 36.30 0.15 1.13 - - - 50.69 20 2022-23 Other Expenses- Reimbursement of expenses 3.08 - 8.20 0.13 18.08 - - - 29.49 2021-22 1.84 - 0.20 - 14.82 - - -",
"page_number": 380,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "tools and technologies developed by the Digital team have underpinned critical operations in FY 2022‑23. Notable examples include a suite of tools to support the launch of our vehicles built on the modular longitudinal architecture (MLA), as well as enabling data‑driven decision making. Our focus remains on modernising our digital infrastructure, as well as staying safe from cyber‑attacks. In Agile Organisation and Culture, our priority has been on unfolding our Purpose and Creators’ Code across the organisation. We launched our “Reimagine Leadership” programme which offered numerous learning interventions such as practical empowerment and team engagement to support our cultural transformation. To enable delivery of our products on time, to cost and quality, we also transitioned six programme delivery portfolios into agile ways of working whereby 8,000 people are working in empowered squads and have adopted core Agile procedures. Commitment to carbon net zero In Sustainability, in FY 2022‑23, we successfully",
"page_number": 38,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "to check the safety and quality of services/design/actual physical work • Use of a reputed international agency for Geotech modelling and technical support, wherever required Access to capital Impact: The Group may be unable to meet its payment obligations when due or may be unable to borrow funds in the market at an acceptable price to fund actual or proposed commitments. A sustained adverse economic downturn and/or suspension of its operations in any business, affecting revenue and free cash flow generation, may cause stress on the Company's ability to raise financing at competitive terms. • Focussed team continues to work on proactive refinancing initiatives with an objective to contain cost and extend tenure • Team is actively building the pipeline for long-term funds for near-to-medium term requirements, both for refinancing and growth capex • Track record of good relations with banks, and of raising borrowings in the last few years",
"page_number": 97,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "2022-23 FY 2021-22 Processing charges 1,786 1,406 27.0% 0.5% 0.5% Stores, spare parts and tools consumed 1,610 1,446 11.3% 0.5% 0.5% Freight, transportation, port charges, etc. 7,548 6,278 20.2% 2.2% 2.3% Power and fuel 2,513 2,178 15.4% 0.7% 0.8% Warranty charges and Product Liabilities 10,497 8,775 19.6% 3.0% 3.2% Publicity 6,035 4,864 24.1% 1.7% 1.7% Information technology/computer expenses 3,970 3,544 12.0% 1.1% 1.3% Provision and write off of sundry debtors, vehicle loans and advances (net) 2,086 1,427 46.2% 0.6% 0.5% Engineering expenses 4,401 3,031 45.2% 1.3% 1.1% MTM (gain)/loss on commodity derivatives 1,415 (1,371) (203.2%) 0.4% (0.5%) Works operation and other expenses 19,926 15,556 27.9% 5.8% 5.6% Other Expenses 61,786 47,134 31.0% 17.9% 16.9% 1. Freight and transportation expenses increased by 20.2% to `7,548 crores in FY 2022-23. This is partially offset favourable currency translation of `313 crores from GBP to INR. At Jaguar Land Rover freight and transportation expenses",
"page_number": 151,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "Government authorities and capital advances. Contract assets represent contract revenues recognized in Projects business, in excess of certified bills. In Projects business, revenues are recognized on the basis of the percentage of completion method, in line with the accounting standards. corporate overview statutory reports financial statements Annual Report 2022-23 109 (f) LiAbiLitiEs AnD ProVisions ` in crores 2022-23 2021-22 change change% Current liabilities 4,620 4,056 564 14 Non-current liabilities 166 153 13 8 Current liabilities include contract liabilities, borrowings, trade payables, short-term provisions, income tax liabilities and other current liabilities. Non-current liabilities consist of long-term provisions, trade payables and deferred tax liabilities. Provisions (long-term and short-term) are towards employee benefits – gratuity, pension, medical benefits and compensated absences, trade guarantees and contingencies, among others. finAnciAL PErformAncE: stAnDALonE financial performance as a measure of operational performance: (A) Gross sALEs/incomE from oPErAtions (sEGmEnt rEVEnUEs) ` in crores 2022-23 2021-22 change change%",
"page_number": 112,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "be reclassified subsequently to statement of profit and loss. CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS Annual Report 2022-23 357 Equity instruments fair value through other comprehensive income : The Company has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income. These changes are accumulated within the FVTOCI equity investments reserve within equity. The Company transfers amounts from this reserve to retained earnings when the relevant equity securities are derecognised. Retained Earnings : The balance in the Retained Earnings primarily represents the surplus after payment of dividend and transfer to reserves. 23 CONTRACT LIABILITIES (NON-CURRENT) ` in crores As at 31 March, 2023 As at 31 March, 2022 Unexpired service contracts 6.33 3.51 Total Contract liabilities (Non-Current) 6.33 3.51 24 BORROWINGS (AT AMORTISED COST) (NON-CURRENT) ` in crores As at 31 March, 2023 As at 31 March, 2022 Unsecured Term Loans",
"page_number": 360,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "the subsidiaries) % of shareholding 75 Jaguar e Land Rover Brasil Indústria e Comércio de Veículos LTDA (subsidiary w.e.f June 2, 2008) Brazil BRL 16.25 1,001.82 (499.72) 2,150.00 1,647.91 3,053.58 133.15 4.02 129.12 129.12 - - 100.00 76 Jaguar Land Rover Belux N.V. (subsidiary w.e.f June 2, 2008) Belgium EUR 89.47 11.18 148.56 1,482.26 1,322.52 4,116.75 43.82 12.02 31.80 31.80 1.85 - 100.00 77 Jaguar Land Rover Nederland BV (subsidiary w.e.f June 2, 2008) Netherlands EUR 89.47 0.41 82.62 824.91 741.88 2,112.65 25.58 6.46 19.11 19.11 (3.30) - 100.00 78 Jaguar Land Rover (South Africa) (Pty) Limited (subsidiary w.e.f June 2, 2008) South Africa ZAR 4.62 0.00 249.91 1,290.03 1,040.12 2,151.39 131.22 37.76 93.46 93.46 - - 100.00 79 Jaguar Land Rover Singapore Pte. Ltd (incorporated w.e.f November 25,2015) (subsidiary w.e.f November 25, 2015) Singapore SGD 61.81 4.64 40.47 146.63 101.53 242.54 17.82 3.78 14.03 14.03 - - 100.00 80",
"page_number": 482,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "40% Market share 39.4% Q4F20 40.7% Q4F23 l Leadership, Asset quality, Tech and Data l Transformation underway l Early wins in large deals l Succession plan in place l Margin transformation to commence in F24 GNPA* 8.4% Q4F20 4.5% Q4F23 * Refers to gross stage 3 delinquent contracts Transform 14 MeraKisan COMPANY OVERVIEW RISE TO CREATE VALUE RISE TO BE FUTURE READY RISE FOR A MORE EQUAL WORLD CORPORATE INFORMATION STATUTORY REPORTS FINANCIAL STATEMENTS ESTABLISHING THE GROWTH GEMS þ Robust launch pipeline with 9 launches; 4,000+ Crs GDV acquired þ Customer & inventory adds, curated customer experience þ Integrated logistics play with multiple acquisitions Progress made so far Valuation¹ ($ Min) FY20 FY23 Revenue ($ Mn) Unlock Emerging Growth Gems þ 67% market share in 3W EV; IFC investment þ OTPPF investment to accelerate scale-up Growth Mindset þ Pivot to decarbonising of Mobility and Energy þ Retail scale-up across",
"page_number": 70,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "also help ensure that: i. All social incidents are investigated and closed in a systematic manner ii. The site takes mitigative and pre-emptive action on any operational elements that may cause harm to the community iii. There are strategies in place to ensure local procurement and local employment iv. There is a coordinated stakeholder engagement strategy that involves the relevant internal teams such as CSR, External Affairs, and Security among others v. All social incidents are investigated and closed in a systematic manner To further enhance our performance and governance on security matters, we have established a security Community of Practice (CoP). This CoP has been tasked to implement the recommendations of the Voluntary Principles on Security and Human Rights (VPSHR), which are recognised as global best practices for managing private and public security forces. Highlights for FY 2023: • Local procurement1 improved to 40% from 35% YoY • Social",
"page_number": 122,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "258.50 254.50 Prepaid taxes* 258.50 254.50 * Includes amount paid under protest of ` 24.48 million (31 March 2022: ` 24.48 million) 8 OTHER ASSETS As at 31st March 2023 As at 31st March 2022 Non current Prepaid expenses 1.69 1.01 Un-adjusted consideration for revenue contract 33.40 41.83 Capital advances 357.67 506.98 Total other assets- non current 392.76 549.82 Current Prepaid expenses 97.62 85.77 Loans and advances to employees 4.06 2.94 Advance to suppliers for goods and services 172.75 82.10 Balance with government authorities 225.26 338.65 Un-adjusted consideration for revenue contract 11.21 14.24 Other assets 99.41 139.46 Less: Allowance for doubtful advances (20.38) (20.38) Total other assets- current 589.93 642.78 FINANCIAL STATEMENTS STATUTORY REPORTS CORPORATE OVERVIEW 197 (Figures in Million `, unless stated otherwise) Notes Summary of significant accounting policies and other explanatory information to the standalone financial statements for the year ended 31st March 2023 9 INVENTORIES As",
"page_number": 170,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "multiple formats þ New launches, distribution scale up and exports Emerging <100G 734 +630 Mn <200 290 +90 Mn 120 670 +550 Mn 230 660 +430 Mn 200 320 +120 Mn 182 514 +332 Mn 50 141 +91 Mn 56 84 +28 Mn 1. Closing value as of 31>? March for corresponding years; 2. F20 Valuation based on rough estimate of Jeeto and 3 Wheelers ICE portfolio; 3. Investment by a wholly owned subsidiary of Ontario Teachers’ Pension Plan Board “OTPP” Note: For FY20: $1 = INR 74.1; For FY23: $1 = INR 81.7 On track to achieve target Through our commitment to Reigniting Value Creation, we successfully steered the Group to reach an ROE of 19.9% in F23. The PAT at consolidated level has seen a significant growth as can be seen from the following chart. 66 4,667 FY02 FY14 FY21 +43% -5% FY23 +75% 10,282 ^ 3,347 *",
"page_number": 70,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "Adjustments for: Depreciation and amortisation expense 24,860.36 24,835.69 Allowances for finance receivables 2,039.15 1,307.59 Provision for trade and other receivables 80.63 151.26 Inventory write-down (net) 723.21 125.34 Reversal for costs of closure of operations of a subsidiary company - (3.32) Discounting of warranty and other provisions (140.76) - Write off/provision for tangible/intangible assets (including under development) (net) 229.95 - Reversal of Impairment in subsidiaries (214.39) (104.42) Reversal for onerous contracts and related supplier claims (61.03) - Defined benefit pension plan amendment past service credit (1,495.07) - Other exceptional items (61.99) - Accrual for share-based payments 30.03 18.05 Marked-to-market gain on investments measured at fair value through profit or loss (93.27) - Loss on sale of assets (including assets scrapped/written off) (net) 354.96 94.19 Profit on sale of investments (net) (303.44) (266.56) Share of (profit)/loss of joint ventures and associates (net) (336.38) 74.06 Tax expense (net) 704.06 4,231.29 Finance costs and",
"page_number": 358,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "2022-23 336 Notes forming part of Financial Statements (` in crores) As at March 31, 2022 Up to 1 year 1-2 years 2-3 years More than 3 years Total Projects in progress Project 1 97.81 - - - 97.81 Other Projects* 18.76 - - - 18.76 Projects temporarily suspended Project 1 - - - 61.31 61.31 Project 2 - - - 209.04 209.04 116.57 - - 270.35 386.92 *Individual projects less than ` 50 crores have been clubbed together in other projects. Original plan is considered as that plan which is approved and on the basis of which implementation progress is evaluated. Such original plan includes management’s estimates and assumptions w.r.t future business, economy / industry and regulatory environments. 6. Investments in subsidiaries, joint ventures and associates measured at cost - non-current (a) Accounting policy Investments in Subsidiaries, Joint ventures and Associates are carried at cost less accumulated impairment losses,",
"page_number": 268,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "be adjusted for exceptional expenses pertaining to diligence work for NOVELIC acquisition. Adjusted PAT thus grew by 24% to INR 3,978 million in FY 2022-23. We generated INR 5,347 million as cash from operations, of which INR 3,351 million were deployed in capex. During FY 2022-23, noteworthy order wins from our new products included orders to supply, EDL (Electronically locking differential) for an Electric SUV and Differential Assembly along with intermediate gears and input shaft for a Class 4 Electric CV. For the long-term investors, I believe these should be seen as more than mere order wins since these demonstrate the Company's ability to customise and build new products to the needs of the customers, providing longevity to the Company's growth potential. We also announced a technology licensing agreement with a UK-based company Equipmake for the manufacture and sale of drive motors, inverters and drive trains in the power range",
"page_number": 13,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "of medium and heavy commercial vehicles in FY 2022-23 compared to FY 2021-22. We sold 1,22,440 units in FY 2022- 23, compared to 88,191 units in FY 2021-22 in this segment, a growth of 38.8%. The quarter-on-quarter improvement was observed, due to increase in infrastructure projects, housing construction and the mining segments in India. ILCVs in India Our sales in the ILCVs in India increased to 54,636 units in FY 2022-23, compared to the 53,847 units in FY 2021-22, representing an increase of 1.5%. SCVs and Pickups in India Our sales in SCVs and Pickups segment in India increased by 9.6% from 1,65,822 units in FY 2021-22 to 1,81,715 units in FY 2022- 23. Among all segments in commercial vehicles, the SCV and pickup category has experienced increased demand from e-commerce players primarily due to the necessity for last- mile distributions to retail consumers by such companies. CV Passenger Vehicles",
"page_number": 142,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "(net) 3,963.25 (2,968.54) Disposal of subsidiaries (net of cash disposed) 19.37 (98.45) Investment in government securities (2,839.87) (1,228.21) Investments - others (50.00) (39.71) Proceeds from sale of investments in other companies 59.33 103.55 Proceeds from sale of investments in government securities 2,872.88 - Proceeds from disposal of defence business - 234.09 Integrated Report / 2022-23 427 142-304 Statutory Reports 305-551 Financial Statements 1-141 Integrated Report Consolidated Cash Flow Statement (` in crores) Particulars Year ended March 31, 2023 Year ended March 31, 2022 Interest received 973.44 652.94 Purchase of other assets with a view to resale (298.20) - Dividend received 46.42 32.01 Dividend received from equity accounted investees 21.69 - Deposit/restricted deposits with financial institution (2,169.57) (600.00) Realisation of deposit with financial institution 1,469.59 1,300.00 Deposits/restricted deposits with banks (17,723.34) (13,203.08) Realisation of deposits/restricted deposits with banks 15,497.79 25,978.60 Net cash used in investing activities (16,804.16) (4,775.12) Cash flows",
"page_number": 359,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "(0.76) (41.96) 0.63 3.17 (1.19) (2.01) 0.17 1.16 (5) Weathermaker FZE (formerly known as Weathermaker Limited) Dubai, United Arab Emirates (Re- domiciliation from earlier Isle of Man) 100.00 0.53 28.96 (1.06) (5.37) 0.45 0.77 (0.68) (4.60) (6) Voltas Qatar W.L.L. Qatar 97.00 3.09 170.19 5.75 29.11 (0.17) (0.28) 4.27 28.83 (7) Universal MEP Projects Pte Limited (w.e.f. 04 August, 2021) Singapore 100.00 * (0.05) (0.01) (0.05) * * (0.01) (0.05) (c ) Non-controlling interests in all subsidiaries (0.69) (38.08) 0.38 1.91 0.97 1.64 0.53 3.55 50 ADDITIONAL INFORMATION AS REQUIRED BY PARAGRAPH 2 OF THE GENERAL INSTRUCTIONS FOR PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS TO SCHEDULE III TO THE COMPANIES ACT, 2013 (Contd.) Voltas Limited 278 Name of the Entity Country of Incorporation Ownership in % Net assets (total assets minus total liabilities) Share of profit or (loss) Share in other comprehensive income Share in total comprehensive income As %",
"page_number": 281,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "the Company's interest in equity accounted investees: (` in crores) As at March 31, 2023 As at March 31, 2022 Carrying amount in immaterial associates 1,329.81 1,159.81 Carrying amount in material joint venture 3,335.73 3,179.67 Carrying amount in immaterial joint ventures 10.12 9.91 Total 4,675.66 4,349.39 (d) Summary of Company’s share of profit/(loss) in equity accounted investees: (` in crores) Year ended March 31, 2023 Year ended March 31, 2022 Share of profit/(loss) in immaterial associates 192.03 131.40 Share of profit/(loss) in material joint venture 142.81 (184.80) Share of profit/(loss) on other adjustments in material joint venture 1.54 (20.66) Share of profit/(loss) in immaterial joint ventures - - 336.38 (74.06) (` in crores) Year ended March 31, 2023 Year ended March 31, 2022 Share of other comprehensive income in immaterial associates 6.29 4.77 Currency translation differences-immaterial associates (6.63) 0.37 Currency translation differences-material joint venture 11.71 217.65 Currency translation differences-immaterial joint",
"page_number": 385,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "Reimagine we will deliver double‑digit EBIT margins by 2026 and be net cash positive by FY 2025. We will achieve our Science Based Target initiative (SBTi) carbon reduction targets in 2030 and carbon net zero goals by 2039, and always strive to exceed our clients’ expectations. As part of our modern luxury vision, we have announced the creation of a House of Brands organisation, to amplify the unique DNA of each of JLR’s celebrated British automotive brands ‑ Range Rover, Defender, Discovery, and Jaguar. This allows each brand to project their individual purpose, desirability, and personality. The House of Brands will also Integrated Report / 2022-23 66 Integrated Report / 2022-23 67 Jaguar Land Rover 142-304 Statutory Reports 305-551 Financial Statements 1-141 Integrated Report provide clarity and differentiation for our clients, to create emotional connection. Two new product additions to the House this year were New Range Rover Sport",
"page_number": 37,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "STATEMENTS STATUTORY REPORTS CORPORATE OVERVIEW 209 (Figures in Million `, unless stated otherwise) Notes Summary of significant accounting policies and other explanatory information to the standalone financial statements for the year ended 31st March 2023 28 OTHER EXPENSES For the year ended 31st March 2023 For the year ended 31st March 2022 Consumption of stores, spares and tool 1,269.51 1,012.63 Power and fuel 647.93 479.49 Freight, clearing and forwarding charges 579.19 378.21 Packing material 350.01 309.52 Sub contracting cost 852.39 747.85 Rent (refer note 43) 20.35 31.43 Repairs and maintenance - plant and machinery 365.53 300.63 Repair and maintenance - buildings 27.34 16.01 Repair and maintenance - others 139.16 109.21 Manpower hiring on contract 478.19 388.71 Legal and professional charges (refer note (a) below) 238.55 159.19 Rates and taxes 9.51 7.96 Insurance 56.03 52.96 Travelling, conveyance and vehicle expenses 172.82 117.45 Communication and stationery expenses 26.58 22.63 Security charges",
"page_number": 182,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "Furniture and Fixtures Aircraft Vehicles Total Balance as at 1st April, 2021 ........................................ 273.57 3,455.73 16,326.97 193.29 247.28 57.22 468.30 21,022.36 Acquisitions through business combinations [Refer note 44 (B)] .............................................................. 8.36 40.71 207.00 2.75 2.10 — 15.31 276.23 Additions/Transfer from CWIP during the year ..... 59.33 806.66 2,790.61 12.72 11.70 — 27.16 3,708.18 Disposals/Transfer during the year .............................. 3.07 3.08 208.86 4.75 5.70 — 76.74 302.20 Balance as at 31st March, 2022 ................................. 338.19 4,300.02 19,115.72 204.01 255.38 57.22 434.03 24,704.57 Balance as at 1st April, 2022 ........................................ 338.19 4,300.02 19,115.72 204.01 255.38 57.22 434.03 24,704.57 Additions/Transfer from CWIP during the year ..... 5.55 235.30 2,661.78 17.61 8.60 — 24.83 2,953.67 Disposals during the year .................................................... 12.95 35.05 169.64 6.10 10.28 — 89.49 323.51 Reclassified as held for sale ............................................... 6.84 47.18 492.87 0.99 1.22 — 1.14 550.26 Balance as at 31st March, 2023 ................................. 323.95 4,453.09 21,114.99 214.53 252.48",
"page_number": 306,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "maintenance modules. Learning and development Skill upgradation Skill upgradation is a priority for us, and we conducted various skill training sessions in the current fiscal year, empowering 90% of the employees across technical, compliance, and behavioural skill sets. Performance review We conduct regular performance and career development reviews for all employees, recommending annual increments and incentives to the Nomination and Remuneration Committee. Permanent employees receive promotions and increments based on business and individual performance, including variable pay. For the permanent workers under the collective bargaining scheme, which is negotiated every 4 years, the salaries and enhanced as per the negotiated norms. 90% of total employees participated in these training sessions in FY 2022-23 Social – People 50 Sona Comstar Annual Report 2022-23 FINANCIAL STATEMENTS STATUTORY REPORTS CORPORATE OVERVIEW 51 Creating a lasting impact on the society On the business front, we are creating a positive impact on the environment",
"page_number": 29,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "Up to 1 year 1-2 years 2-3 years More than 3 years Total Projects in progress Project 1 - - - - - Various Projects* 1,431.13 23.42 - - 1,454.55 Projects temporarily suspended 1,431.13 23.42 - - 1,454.55 As at March 31, 2022 Up to 1 year 1-2 years 2-3 years More than 3 years Total Projects in progress Project 1 2,241.40 - - - 2,241.40 Project 2 844.68 - - - 844.68 Project 3 731.03 - - - 731.03 Various Projects* 1,265.03 4.18 - - 1,269.21 Projects temporarily suspended Various Projects* - 6.52 - 270.36 276.88 5,082.14 10.70 - 270.36 5,363.20 *Individual projects less than 10% of total Intangible assets under development have been clubbed together in various projects. Original plan is considered as that plan which is approved and on the basis of which implementation progress is evaluated. Such original plan includes management’s estimates and assumptions w.r.t future",
"page_number": 380,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "particulars of contracts/ arrangements entered into by the Company with related parties referred to in sub-section (1) of Section 188 of the Companies Act, 2013 including certain arm’s length transactions under third proviso thereto. 1. Details of contracts or arrangements or transactions not at arm’s length basis: The Company has not entered into any contract or arrangement or transaction with its related parties which is not at arm’s length during financial year 2022-23. 2. Details of material contracts or arrangement or transactions at arm’s length basis: (a) Name(s) of the related party and nature of relationship: Universal MEP Projects & Engineering Services Limited (UMPESL), wholly-owned subsidiary of the Company. (b) Nature of contracts/arrangements/transactions: During the year, the Business Transfer Agreement (BTA) earlier executed in March 2021 for transfer of domestic B2B businesses to UMPESL on a slump sale basis, was consummated effective 1 August, 2022. ANNEXURE V FORM NO. AOC-2",
"page_number": 146,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "and Components 115.06 161.94 (b) Stock-in-trade 19.66 31.83 Total goods-in-transit 134.72 193.77 Footnote : Provision / (reversal) for write-down on value of inventory recognised in statement of profit and loss (0.61) (9.72) 15 CONTRACT ASSETS (CURRENT) (UNSECURED) ` in crores As at 31 March, 2023 As at 31 March, 2022 Amount due from customers under construction contracts 1,111.62 863.28 Less: Impairment Allowance 133.56 114.96 Contract assets (Current) (Net) 978.06 748.32 Footnotes : (1) Break up of security details (i) Unsecured, considered good 1,048.01 751.56 (ii) Contract assets - credit impaired 63.61 111.72 1,111.62 863.28 Less: Impairment Allowance 133.56 114.96 978.06 748.32 CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS Annual Report 2022-23 249 (2) Contract assets are initially recognised for revenue earned from electro mechanical projects contracts as receipt of consideration that is conditional on successful completion of project milestone. Upon completion of milestone and acceptance/certification by the customer, the amounts",
"page_number": 252,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "the reporting obligations under the U.S. Securities Exchange Act of 1934 until such time the Company terminates its registration under the Exchange Act. The Company expects to satisfy the conditions for deregistration and file Form 15F with the Securities and Exchange Commission on or around January 24, 2024 to deregister its Securities and to terminate its reporting obligations under the Exchange Act. Plant Locations Location Range of Products Produced Pimpri, Pune – 411 018; Chikhali, Pune – 410 501; Chinchwad, Pune – 411 033 Medium and Heavy Commercial Vehicles (M&HCVs), Intermediate & Light Commercial Vehicles (ILCVs), Small Commercial Vehicles – Pickups (SCVs), Winger (Vans) Jamshedpur – 831 010 Intermediate Commercial Vehicles (ICVs) and M&HCVs Chinhat Industrial Area, Dewa Road, Chinhat, Lucknow – 226 019 ICVs, M&HCVs, LCVs, Electric Vehicles and Buses Plot No. 1, Sector 11 and Plot No. 14, Sector 12, I.I.E., Pantnagar, District, Udhamsingh Nagar, Uttarakhand – 263",
"page_number": 227,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "products and operations by 2039. Jaguar Land Rover’s annual total product and other investment spending was GBP 2.0 billion in FY 2021-22 and GBP 2.4 billion in FY 2022-23. Total product and other investment expenditure guidance for FY 2023-24 is approximately GBP 3.0 billion, with the Refocus program announced under the Reimagine strategy expected to continue to maintain the financial discipline successfully deployed previously under Project Charge+ and other initiatives. Our total product and other investment spending for domestic business was ` 6,812 crores for FY 2022-23. We have plans to significantly step up our capital expenditure for our domestic business, and it is expected to be around ` 8,000 crores in FY 2023-24. TML continues to monitor the external challenges of dynamically managing capital expenditure and implementation of further cash improvement measures. For FY 2023-24, on a consolidated basis, we expect to invest around `38,000 crores in property, plants",
"page_number": 187,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "the company/ Fellow Subsidiaries Associates Subsidiaries Others Total (vii) Contribution to Post retirement employee benefit trust - - - 8 8 (viii) (Purchase)/ Sale of fixed assets (18) - 14 - (4) (ix) Dividend paid - To Holding companies 26,170 - - 0 26,170 - To key management personnel and their relatives - - - 2 2 - To Non executive directors and their relatives - - - 0 0 (x) Commission/ Sitting Fees - To Non executive directors - - - 5 5 - To other key management personnel - - - 0 0 - To relatives of key management personnel - - - 0 0 (xi) Interest and guarantee commission expense Q 157 - 46 - 203 (xii) Miscellaneous expenses - - 9 - 9 Transactions during the year : (i) Financial guarantees given - - 1,174 - 1,174 (ii) Financial guarantees relinquished - - (3,298) - (3,298)",
"page_number": 466,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "trainings. To build a robust and dynamic service support infrastructure we are also ensuring proper inventory, usage analysis, replenishment and fulfilment of our spares. This supplements our efforts to build a collaborative ecosystem whereby the Mobility as a Service value proposition makes service and downtime easy for the customer. This is particularly in reference to our efforts towards daily preventive and corrective maintenance activities. We also offer on-site dedicated container workshops that are equipped with the necessary tools, fast moving parts/lubes storage space, small office spaces so that repair and support operations can be carried out smoothly. Apart from this, we also provide many other value-added services under: → Tata Kavach: For quick accident repair → Tata Zippy: For quick vehicle repair → Tata Alert: Roadside assistance programme with 24-hour problem resolution assurance for all CV models under warranty. Re.Wi.Re: Responsibly managing the end-of-product life phase Scrapping and recycling of",
"page_number": 56,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "83.86 54.23 Nil 0.04 83.86 54.19 Revenue from Continued Operations (A + B + C +D +E) 59,509.78 46,130.98 1,925.27 694.15 61,435.04 46,825.13 5,401.90 4,248.93 56,033.13 42,576.20 32. Revenue from Operations (Contd.) Notes to the Consolidated Financial Statements Integrated Annual Report 2022-23 Leading Transition. Powering Transformation #SustainableIsAttainable 477 Corporate Overview Decarbonising for Tomorrow Creating Value for Impact Delivering Value Statutory and Financial Statements Reconciliation of Revenue For the year ended March 31, 2023 For the year ended March 31, 2022 ` crore ` crore Revenue from Continued Operations as per above 56,033.13 42,576.20 Net movement in Regulatory Deferral Balances (924.05) 239.47 Total Revenue from Operations 55,109.08 42,815.67 Contract Balances As at March 31, 2023 As at March 31, 2022 ` crore ` crore Contract Assets Recoverable from Consumers Non-Current 1,639.02 1,408.30 Unbilled Revenue other than passage of time 9.44 27.81 Total Contract Assets 1,648.46 1,436.11 Contract Liabilities Deferred Revenue",
"page_number": 481,
"pdf_name": "AR_2022_2023.pdf"
},
{
"document": "- - - - - 100.00 48 Jaguar Land Rover Pension Trustees Limited (subsidiary w.e.f June 2, 2008) (dormant) UK GBP 101.64 - - - - - - - - - - - 100.00 Integrated Report / 2022-23 549 142-304 Statutory Reports 305-551 Financial Statements 1-141 Integrated Report (` in crores) Sr. No Subsidiary Country Reporting currency Exchange Rate Share capital (incl. advances towards capital where applicable) Reserves and Surplus Total Assets Total Liabilities Turnover Profit/ (Loss) Before Tax Tax Expense/ (Credit) Profit/(Loss) after tax Profit/ (Loss) for the period/ year * Proposed dividend and tax thereon Investments (except in case of investment in the subsidiaries) % of shareholding 49 Jaguar Cars (South Africa) (Pty) Ltd (subsidiary w.e.f June 2, 2008) (dormant) South Africa ZAR 4.62 - - - - - - - - - - - 100.00 50 Jaguar Land Rover Slovakia s.r.o. (JLRHL 0.01% and JLRL 99.99%)",
"page_number": 481,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "` 7.11 (3.63) (B) ‘A’ Ordinary shares (face value of ` 2 each) : (i) Basic ` 7.21 (3.63) (ii) Diluted ` 7.21 (3.63) Integrated Report / 2022-23 320 Cash Flow Statement (` in crores) Year ended March 31, 2023 Year ended March 31, 2022 Cash flows from operating activities: Profit/(Loss) for the year from continuing operations 2,728.13 (1,739.23) Profit for the year from discontinued operations - 348.37 Adjustments for: Depreciation and amortisation expense 1,766.86 2,724.93 Allowances for trade and other receivables 105.12 42.71 Discounting of warranty and other provisions (128.53) - Inventory write down (net) 32.21 25.25 Provision for Intangible assets under development 276.91 - Provision/(reversal) for loan given to/investment and cost of closure in subsidiary companies/joint venture (net) 4.55 (699.15) Accrual for share-based payments 20.46 18.04 Profit on sale of assets (net) (including assets scrapped / written off) (88.47) (70.95) Profit on sale of investments at FVTPL",
"page_number": 252,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "to improve safety, quality, cost erosion and enhance productivity across all locations. Technicians and unions have supported business continuity to achieve productivity levels during challenging times caused by COVID-19 and the semi-conductor supply chain crisis. Employee wages are paid in accordance with the wage settlements signed that have varying terms (typically three to five years) at different locations. The expiration dates of the wage agreements for various locations/subsidiaries are as below: Location/subsidiaries Wage Agreement valid until Jaguar Land Rover – UK Plants 31-Oct -23 Mumbai 31-Dec-25 Pune – Passenger Vehicles 31-Aug-25 Pantnagar – Commercial Vehicles 31-Mar-26 Lucknow – Commercial Vehicles 31-Mar-24 Sanand – Passenger Vehicles 30-Sep-24 Pune – Commercial Vehicles 31-Aug-25 Jamshedpur – Commercial Vehicles 31-Mar-26 Sanand – TPEM 31-Mar-24 LONG-TERM WAGE SETTLEMENTS (LTS) We have successfully and amicably signed the long-term wage settlement (LTS) for our Pune PV and Pantnagar CV Units with complete support and cooperation from the",
"page_number": 169,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "vehicles in FY 2022-23, down 6% y-o-y as a result of destocking of inventory during FY 2021-22 creating a timing difference vs wholesales. Retail sales have been improving during FY 2022-23. Please refer to the paragraph on JLR in the Management Discussion & Analysis section for detailed analysis. Some of the key highlights of FY 2022-23 were: y Order book at ~200,000 units remained strong but as expected was down from the peak of around 215,000 units. y Ramp up of the new Range Rover and Range Rover Sport approaching target production levels. y Demand for Defender remained well ahead of the expectations at launch and was the best-selling model in FY 2022-23. A third shift has been added in Nitra to meet customer demand. y Strong engagement with chip suppliers continued to secure in calender year 2023 and 2024 supplies. y Pricing and mix have been managed throughout the",
"page_number": 77,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "(28.1) China 2,374 2,887 (17.8) 22,370 21,858 2.3 Overseas 4,827 6,154 (21.6) 4,488 6,881 (34.8) Land Rover 278,642 244,672 13.9 292,141 299,000 (2.3) UK 50,903 43,371 17.4 51,935 46,422 11.9 North America 69,699 67,881 2.7 66,771 77,520 (13.9) Europe 61,999 49,983 24.0 58,874 54,227 8.6 China 42,544 38,529 10.4 68,628 73,927 (7.2) Overseas 53,497 44,908 19.1 45,933 46,904 (2.1) Jaguar Land Rover 321,362 294,182 9.2 354,662 376,381 (5.8) UK 62,142 57,193 8.7 64,011 63,438 0.9 North America 81,629 79,350 2.9 77,526 91,305 (15.1) Europe 74,349 65,161 14.1 71,706 72,068 (0.5) China 44,918 41,416 8.5 90,998 95,785 (5.0) Overseas 58,324 51,062 14.2 50,421 53,785 (6.3) CJLR 50,855 53,468 (4.9) 50,904 54,035 (5.8) Integrated Report / 2022-23 213 142-304 Statutory Reports 305-551 Financial Statements 1-141 Integrated Report Jaguar Land Rover’s performance on a wholesale basis: Wholesales (excluding our China Joint Venture) for the FY 2022-23 were 3,21,362 up 9.2%, compared to",
"page_number": 145,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "Note 8 907.28 412.56 107.27 Nil 23 LTH Milcom Private Ltd. $ August 17, 2015 March 31, 2017 Indian Rupee 1.00 66,660 * 33.33% Note 8 Not material to the group * * * * Integrated Annual Report 2022-23 Leading Transition. Powering Transformation #SustainableIsAttainable 537 Corporate Overview Decarbonising for Tomorrow Creating Value for Impact Delivering Value Statutory and Financial Statements FORM AOC-I Statement containing salient features of the financial statement of Subsidiaries/ Associate Companies (Contd.) Part \"B\": Associates and Joint Ventures SN Name of the Associate Date of acquiring Associate Reporting period for the Associate concerned Reporting currency Exchange Rate as at March 31, 2023 Shares of Associate company held by the company on the year end Amount of Investment in Associate Extent of Holding % Description of how there is significant influence Reason why Associate is not consolidated Net worth attributable to Shareholding as per latest audited Balance",
"page_number": 541,
"pdf_name": "AR_2022_2023.pdf"
},
{
"document": "Rover Italia SpA (subsidiary w.e.f June 2, 2008) Italy EUR 89.47 369.22 591.57 3,842.24 2,881.45 8,624.25 169.10 31.24 137.86 137.86 (1.32) - 100.00 67 Land Rover Ireland Limited - (no longer a trading NSC) (subsidiary w.e.f June 2, 2008) Ireland EUR 89.47 0.00 5.13 20.14 15.01 - - - - - (4.81) - 100.00 68 Jaguar Land Rover Korea Co. Ltd.(subsidiary w.e.f June 2, 2008) South Korea KRW 0.06 0.32 133.78 2,024.56 1,890.47 4,344.16 133.82 37.64 96.18 96.18 - - 100.00 69 Jaguar Land Rover Deutschland GmbH (subsidiary w.e.fJune 2, 2008) Germany EUR 89.47 119.17 424.32 3,853.49 3,309.99 9,993.19 (92.50) 58.61 (151.11) (151.11) 42.52 - 100.00 70 Jaguar Land Rover Austria GmbH (subsidiary w.e.f June 2, 2008) Austria EUR 89.47 1.30 121.29 645.98 523.39 1,857.03 23.54 8.52 15.02 15.02 - - 100.00 71 Jaguar Land Rover Australia Pty Limited (subsidiary w.e.f June 2, 2008) Australia AUD 55.03 3.85 572.25 2,954.58",
"page_number": 481,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "of pending litigations as at 31 March 2023 on the consolidated financial position of the Group, its associates and joint ventures and joint operations. Refer Note 39 to the consolidated financial statements. b. Provision has been made in the consolidated financial statements, as required under the applicable law or Ind AS, for material foreseeable losses, on long-term contracts including derivative contracts. Refer Note 31 to the consolidated financial statements in respect of such items as it relates to the Group, its associates and joint ventures and joint operations. c. There has been no delay in transferring amounts to the Investor Education and Protection Fund by the Holding Company or its subsidiary companies, associate companies, joint venture companies and joint operation companies incorporated in India during the year ended 31 March 2023. d (i) The respective management of the Holding Company and its subsidiary companies, associate companies, joint venture companies and",
"page_number": 350,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "the audit period. a. The Board of Directors in its meeting held on January 09, 2023 had approved the acquisition of 54% stake in Novelic d.o.o. Beograd – Zvezdara, a Serbia based Company which is a self-sustaining provider of mmWave radar sensors, perception solutions, and full-stack embedded systems. For PI & Associates, Company Secretaries Nitesh Latwal Partner ACS No.: 32109 CP No.: 16276 Place: New Delhi Peer Review No.: 1498/2021 Date: May 03, 2023 UDIN: A032109E000272461 Disclaimer This report is to be read with our letter of even date which is annexed as “Annexure A” and forms an integral part of this report. 114 Sona Comstar Annual Report 2022-23 Annexure-A To, The Members, SONA BLW Precision Forgings Limited Our Secretarial Audit Report of even date is to be read along with this letter: (i) Maintenance of secretarial records is the responsibility of the management of the Company. Our Responsibility",
"page_number": 87,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "0.11 (ii) The Company has a process whereby periodically all long term contracts (including derivative contracts) are assessed for material foreseeable losses. At the year end, the Company has reviewed and ensured that adequate provision as required under any law/accounting standards for material foreseeable losses on such long term contracts (including derivative contracts) has been made in books of account. (iii) In April 2021, the Company has completed the sale of certain assets related to defence business to Tata Advanced Systems Limited (TASL) for sale consideration of `234.09 crores againts the Net Assets of `231.57 crores resulting in a gain of `2.52 crores recorded as an exceptional item in Statement of Profit and Loss. In terms of our report attached For and on behalf of the Board For B S R & Co. LLP N CHANDRASEKARAN [DIN: 00121863] P B BALAJI Chartered Accountants Chairman Group Chief Financial Officer Firm's Registration",
"page_number": 340,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "four reporting segments: → Tata and other brand vehicles - Commercial Vehicles; → Tata and other brand vehicles – Passenger Vehicles; → Jaguar Land Rover; and → Vehicle Financing. Overview of Automotive Operations The total vehicle sales (excluding China joint venture) for FY 2022-23 and FY 2021-22 are set forth in the table below: FY 2022-23 FY 2021-22 Units % Units % Passenger cars 2,24,450 17.5% 1,94,185 18.8% Utility vehicles 6,37,877 49.6% 4,72,154 45.7% Intermediate and Light Commercial Vehicles 68,606 5.3% 63,097 6.1% SCV & Pick Up 1,99,769 15.5% 1,80,222 17.4% CV Passenger Vehicle 28,374 2.2% 17,699 1.7% Medium and Heavy Commercial Vehicles 1,25,888 9.8% 1,06,547 10.3% Total 12,84,964 100.0% 10,33,904 100.0% We sold 9,31,602 units of Tata Commercial Vehicles and Tata Passenger Vehicles and 3,21,362 units (excluding wholesales from the China Joint Venture) of Jaguar Land Rover vehicles in FY 2022-23. In India, we sold 9,31,429 and 6,93,036 units,",
"page_number": 140,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "crores for FY 2022-23, compared to `1,308 crores in FY 2021-22. The increase is mainly due to higher provisions for restructured portfolio. The allowances for trade and other receivables were `81 crores in FY 2022-23, compared to `151 crores in FY 2021-22. 5. Warranty and product liability expenses represented 3.0% and 3.2% of our total revenues in FY 2022-23 and FY 2021-22, respectively. The warranty expenses at Jaguar Land Rover increased to GBP 885 million (3.9% of the revenue) in FY 2022-23, compared to GBP 748 million (4.1% of revenue) in FY 2021-22, mainly due to increased retailer guidance, guided diagnostics enhancement, proactive issue detection, prioritisation and resolution coming from charge initiatives, quality improvements in vehicles and the implementation of other business enhancement activities. For Tata Motors’ Indian operations, Commercial Vehicles remains at 1.5% in FY 2022-23 and FY 2021-2022, Passenger Vehicles partially decreased from 0.7% in FY 2021-22 to",
"page_number": 152,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "among other things, undertaking new projects, issuing new securities, changes in management, mergers, sales of undertakings and investments in subsidiaries. In addition, certain negative covenants may limit our ability to borrow additional funds or to incur additional liens, and/or provide for increased costs in case of breach. Certain financing arrangements also include financial covenants to maintain certain debt-to-equity ratios, debt-to-earnings ratios, liquidity ratios, capital expenditure ratios and debt coverage ratios. We monitor compliance with our financial covenants on an ongoing basis. We also review our refinancing strategy and continue to plan for deployment of long-term funds to address any potential non-compliance. We monitor compliance with our financial covenants on an ongoing basis. We also review our refinancing strategy and continue to plan for deployment of long-term funds to address any potential non-compliance. For FY 2022-23, the Company is in compliance with all the covenants. In one of our subsidiaries, we",
"page_number": 163,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "into individually or taken together with previous transactions during a financial year, exceeds `1,000 crore or 10% of the annual consolidated turnover of the listed entity as per the last audited financial statements of the listed entity, whichever is lower (“Materiality Threshold”). Accordingly, the threshold for determination of material RPTs under Regulation 23(1) of the Listing Regulations has been reduced with effect from 01 April 2022. Given the nature of the industry, the Company works closely with its related parties (including holding companies, subsidiaries, fellow subsidiaries and joint ventures) to achieve its business objectives and enters into various operational transactions with its related parties, from time to time, in the ordinary course of business and on arm’s-length basis. Amongst the transactions that the Company executes with its related parties, the estimated value of Agreements entered into/to be entered into during FY 2024 and in each financial year(s) until FY 2026",
"page_number": 21,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "five‑star safety scores, including ratings of over 80% for Occupant Protection and in the Safety Assist category, recognising their suite of Advanced Driver Assistance Systems. The FY 2022‑23 also saw us add to our Defender collection, with the introduction of the Defender 130 model. Echoing the name of the original long‑wheelbase model, the Defender 130 adds another dimension to our all‑conquering, all‑terrain brand, providing space and comfort for up to eight adults, across three rows of full‑size seating. With the new Range Rover Velar, we are providing a calm sanctuary to our customers, promoting comfort and well‑being. The cabin includes active technologies that help cleanse the air and minimise road noise, to be both cleaner and quieter, on any journey. With an upgraded battery pack on the F‑PACE P400e plug‑in electric hybrid, we offer an increase of 20% to our customers on their electric‑only range. Jaguar I‑PACE continues to reinforce",
"page_number": 33,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "2022-23 from `39,999 crores in FY 2021-22, due to increased volumes. The material costs as Integrated Report / 2022-23 218 Management Discussion and Analysis a percentage of total revenue decreased to 74.6% in FY 2022- 23, compared to 76.5% in FY 2021-22, primarily due to a improved product mix. Material costs for ILCVs category increased by 32.6% to `7,166 crores in FY 2022-23, compared to `5,404 crores in FY 2021- 22 and for SCVs and Pickups increased by 16.4% to `6,339 crores in FY 2022-23, compared to `5,444 crores in FY 2021-22 mainly due to increase in volumes. Material costs for MHCVs category increased by 37.0% to `24,624 crores in FY 2022- 23, compared to `17,978 crores in FY 2021-22 and for CV Passenger Vehicles category substantially increased to `3,974 crores in FY 2022-23, compared to `1,707 crores in FY 2021- 22 mainly due to increase in volumes. The",
"page_number": 150,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "Integral foreign operations. (49.80) (3.83) - interest and other expenses relating to borrowings for investment 72.20 63.86 - Others (88.33) 160.76 Undistributed earnings of subsidiaries, joint operations and equity accounted investees 602.29 407.25 Deferred tax assets not recognised because realisation is not probable 692.17 3,528.19 Deferred tax assets recognized on unabsorbed depreciation and others (refer note 3 below) (1,977.01) - Deferred tax assets recognized on Long term capital loss (150.48) - Previously recognised deferred tax assets written down - (6.34) Utilization/credit of unrecognised tax losses, unabsorbed depreciation and other tax benefits (547.45) (725.34) Effect of change in statutory tax rates 19.32 2.04 Profit on sale of passenger vehicle undertaking (Common control transaction) - 1,282.92 Impact of change in rates on moving to new tax regime (refer note 2 below) 522.36 - Profit on sale of Defence Business - (0.88) Others 492.24 470.34 Income tax expense reported in consolidated statement of",
"page_number": 392,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "(B) Designated and carried at FVTPL In Other Companies SsangYong Motor Company ## ........................................................... KRW 5,000 1,25,36,341 172.14 11,18,55,108 — (C) Designated and carried at FVTOCI In Other Companies Equity shares ................................................................................................. 1.29 1.22 1.29 1.22 5,205.18 5,525.84 Unquoted (A) At Cost (i) In Subsidiary Companies Equity shares Gromax Agri Equipment Limited ........................................... 10 59,73,218 4.29 59,73,218 4.29 Kota Farm Services Limited ..................................................... 10 2,73,420 — 2,73,420 — Mahindra & Mahindra Contech Limited ............................ 10 35,000 0.04 35,000 0.04 Mahindra Agri Solutions Limited ........................................... 10 9,30,32,599 367.33 9,30,32,599 367.33 Mahindra and Mahindra South Africa (Proprietary) Limited ..................................................................................................... ZAR 1 5,20,00,000 28.54 5,20,00,000 28.54 Mahindra Automotive Australia Pty. Limited ................ AUD 1 45,75,000 21.16 45,75,000 21.16 Mahindra Automotive Mauritius Limited – Ordinary shares ............................................................................. EUR 1 13,30,05,001 1,075.42 13,30,05,001 1,075.42 – Ordinary shares ............................................................................. NA 1,10,50,23,98,69,39,88,000 735.54 3,65,36,06,54,761 474.36 Mahindra Aerospace Private Limited # ............................ 10 91,23,89,607 1,106.96 — — Mahindra",
"page_number": 310,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "during FY 2022-23 and FY 2021-22, respectively (constituting 72.5% and 67.0% of total sales in FY 2022-23 and FY 2021-22, respectively). In North America, we sold 81,629 units and 79,360 units in FY 2022-23 and FY 2021-22, respectively (constituting 6.4% and 7.7% of total sales in FY 2022-23 and FY 2021-22, respectively). 1.7% Share of volumes (FY 2021-22) PV SCV & Pick Up CV Passenger Vehicle MHCV UV ILCV 1.7% 45.7% 18.8% 6.1% 17.4% 10.3% 2.2% Share of volumes (FY 2022-23) PV SCV & Pick Up CV Passenger Vehicle MHCV UV ILCV 2.2% 49.6% 17.5% 5.3% 15.5% 9.8% Integrated Report / 2022-23 209 142-304 Statutory Reports 305-551 Financial Statements 1-141 Integrated Report Tata and other brand vehicles The following table sets forth our total wholesale sales worldwide of Tata Commercial Vehicles and Tata Passenger Vehicles: FY 2022-23 FY 2021-22 Units % Units % Tata Passenger Vehicles 5,40,965 56.1% 3,72,157",
"page_number": 141,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "of share options for the year ended 31 March 2022 is presented below: Financial Year of Grant Exercise Period Options outstanding 01 April 2021 Options granted during the year Options transferred (to)/ from Parent/ fellow subsidiaries Options forfeited/ lapsed during the year Options exercised during the year Options outstanding 31 March 2022 Options exercisable 31 March 2022 2017-18 01 September 2020 - 28 February 2021 3,76,940 - - 23,457 3,53,483 - - 2018-19 01 November 2021 - 30 April 2022 99,12,240 - - 69,06,444 26,82,781 3,23,015 3,23,015 2018-19 Cash settled 99,086 - - - 99,086 - - 2019-20 29 November 2022 - 28 May 2023 1,35,72,278 - - 20,90,560 - 1,14,81,718 - 2019-20 Cash settled 80,050 - - 61,700 - 18,350 - 2020-21 06 November 2023 - 05 May 2024 1,27,11,112 - - 19,03,591 - 1,08,07,521 - 2020-21 Cash settled 87,609 - - 68,445 - 19,164 - 2021-22 01 November",
"page_number": 450,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "out with a 69% response rate, of the 11,500 employees who took the survey, to gauge their engagement and their response to the movements made on the desired culture. To qualitatively measure the delta change made, questions were designed to focus on the dimensions of Engagement, Culture Pillars and Change Management. The Engagement Score increased from 59% in 2020 to 70% in 2022 and further increased to 71% in 2023.. Cascade and co-creation: Over 40 workshops, covering over 1,750 staff employees, were conducted across all business units with leadership participation. Action plans co-evolved. 165+ projects were finalised across eight themes at the organisation and BU level for action sponsored by unit leadership. Culture Connect workshops Skill development In today's highly competitive business environment, investing in the employees' skill development is of paramount importance. We provide educational programmes to assist in the skill development of our technician-grade employees. In FY 2022-23,",
"page_number": 62,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "0.5% in FY 2022-23, thereby on overall level represent 1.2% and 1.1% of the revenue for FY 2022-23 and FY 2021-22, respectively, due to quality improvements and product mix. 6. Engineering expenses increased by 45.2% to `4,401 crores in FY 2022-23, compared to `3,031 crores in FY 2021- 22. These expenses represent 1.3% and 1.1% of our total revenues in FY 2022-23 and FY 2021-22, respectively and are attributable mainly to increased expenditure at Jaguar Land Rover. 7. There was loss of `1,415 crores in FY 2022-23 for commodity derivative as compared to gain of `1,371 crores in FY 2021-22. Expenditure capitalized This represents employee costs, stores and other manufacturing supplies and other work expenses incurred mainly toward product development projects. Considering the nature of our industry, we continually invest in the development of new products to address safety, emission, and other regulatory standards. The expenditure capitalized increased by 28.0%",
"page_number": 152,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": ": Share of loss of joint ventures and associates 120.65 110.31 Depreciation and amortisation expenses 39.62 37.26 Allowance for doubtful debts and advances 360.04 93.49 Unrealised foreign exchange (gain) / loss (net) (3.34) 3.88 Interest income (44.59) (4.01) Dividend income (6.91) (5.02) Gain arising on financial assets measured at Fair Value through Profit or Loss (FVTPL) (net) (63.24) (81.09) Finance costs 29.59 25.87 Unclaimed credit balances written back (7.66) (9.79) (Gain) / loss on disposal of property, plant and equipment 1.90 1.14 Rental income (24.60) (24.40) 401.46 147.64 Operating profit before working capital changes 708.60 844.94 Changes in Working Capital: Adjustments for (increase) / decrease in operating assets: Inventories 69.42 (381.79) Trade receivables (287.48) (386.81) Contract assets (248.34) 300.20 Other financial assets (211.19) (5.93) Other non-financial assets (33.50) (46.53) Adjustments for increase / (decrease) in operating liabilities: Trade payables 80.76 485.27 Contract liabilities 168.73 (64.50) Other financial liabilities (17.76) 7.66",
"page_number": 219,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "Jaguar Land Rover Taiwan Company Pte. Ltd Taiwan TWD 2.69 10.36 117.63 1,017.23 889.25 2,397.00 133.94 26.67 107.27 107.27 - - 100.00 81 Jaguar Land Rover Classic Deutschland GmbH (Incorporated w.e.f. August 10,2018) Germany GBP 101.64 25.41 (27.02) 15.04 16.65 38.70 0.96 - 0.96 0.96 - - 100.00 82 Jaguar Land Rover Hungary KFT Budapest HUF 0.24 0.07 14.91 92.47 77.49 191.91 7.67 4.75 2.93 2.93 - - 100.00 83 Jaguar Land Rover Classic USA LLC ( Incorporated w.e.f June 1, 2018) (dormant) USA USD 82.18 - - - - - - - - - - - 100.00 84 Bowler Motors Limited (Name changed from Jaguar Land Rover Auto Ventures Limited on 28 January 2020) UK GBP 101.64 30.49 (63.24) 64.93 97.68 4.41 (15.99) - (15.99) (15.99) - - 100.00 85 Jaguar Land Rover Ventures Limited UK GBP 101.64 - - - - - - - - - - -",
"page_number": 482,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "AS 115 in applying the percentage of completion on its long-term projects, the Group is required to recognise any anticipated losses on it contracts. Impairment of financial assets and contract assets The Group’s Management reviews periodically items classified as receivables to assess whether a provision for impairment should be recorded in the statement of profit and loss. Management estimates the amount and timing of future cash flows when determining the level of provisions required. Such estimates are necessarily based on assumptions about several factors involving varying degrees of judgement and uncertainty. Details of impairment provision on contract assets and trade receivable are given in Note 15 and Note 16. The Group reviews it’s carrying value of investments annually, or more frequently when there is indication for impairment. If the recoverable amount is less than it’s carrying amount, the impairment loss is accounted for. Fair value measurement of financial instruments Some",
"page_number": 235,
"pdf_name": "AR_21928_VOLTAS_2022_2023_26052023210412.pdf"
},
{
"document": "bold look. Harrier and Safari are further enhanced with a desirable larger infotainment screen and new ADAS features. Commercial Vehicles in India Industry sales of commercial vehicles rose by 34.0% to total 962,347 units in FY 2022-23 compared to the sales of 718,155 units in FY 2021-22. The following table sets forth the breakup of the wholesale sales in various categories. Category Industry Sales Tata Commercial Vehicles Sales FY 2022-23 (In Units) FY 2021-22 (In Units) % Change FY 2022-23 (In Units) FY 2021-22 (In Units) % Change Medium and Heavy Commercial Vehicles (MHCV) 2,30,720 1,51,546 52.2% 1,22,440 88,191 38.8% Intermediate and Light Commercial Vehicles (ILCV) 1,24,388 1,09,997 13.1% 54,636 53,847 1.5% SCVs and Pickups 5,23,923 4,23,560 23.7% 1,81,715 1,65,822 9.6% CV Passenger Vehicles 83,316 33,052 152.1% 34,120 14,822 130.2% Total 9,62,347 7,18,155 34.0% 3,92,911 3,22,682 21.8% MHCVs in India Industry saw a significant increase of 52.2% in the sale",
"page_number": 142,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
}
],
"keywords": {
"keywords": [
"defense",
"Military Contracts",
"Defense Contracts",
"Government Contracts",
"Force Modernization",
"Military Upgrades",
"Defense Revitalization",
"Defense Budget",
"Military Spending",
"Defense Expenditure",
"Weapons Systems",
"Armament Development",
"Defense Platforms",
"Strategic Partnerships",
"Military Alliances",
"Defense Collaboration",
"Unmanned Vehicles",
"Autonomous Systems",
"Drone Technology",
"Threat Assessment",
"Risk Analysis",
"Security Evaluation"
]
}
}Time taken : 1 m 42.96 s
{
"summary": "The search query topic, which pertains to the steel industry, is significantly relevant to Tata Advanced Systems. The company is heavily involved in the steel and metal production industry, providing a wide range of products including high carbon steel, low carbon steel, alloy steel, and stainless steel. \n\nFinancially, the steel industry plays a crucial role in the company's revenue generation. For instance, the sale of steel products contributed to a significant portion of the company's total income in FY 2022-23. Moreover, the company has reportedly invested heavily in enhancing its production capabilities, which indicates the strategic importance of steel production to the company's overall business model.\n\nLooking ahead, Tata Advanced Systems appears to be focusing on sustainable and efficient production. The company is prioritizing the use of recycled steel and casting copper/aluminium in its production materials, which reached 29% in FY 2022-23. This aligns with global trends towards sustainability and could potentially provide a competitive edge in the market.\n\nHowever, the company also faces potential risks associated with commodity price volatility and supply chain disruptions, which have been highlighted in the documents provided. Fluctuations in steel prices, for example, may impact the company's profitability. Moreover, the company’s reliance on imported raw materials such as steel, copper, and aluminium could expose it to risks associated with changes in global commodity prices and supply chain disruptions.\n\nOverall, the company's involvement in the steel industry presents both opportunities and challenges. Investors may benefit from the company's strategic focus on sustainable production and its robust position in the steel market. However, they should also be mindful of the potential risks associated with commodity price volatility and supply chain disruptions.",
"search_result": [
{
"document": "to steel processors. In FY 2022-23, the percentage of recycled steel and casting copper/ aluminium in our production materials reached 29%, an increase from the previous year's 27.7% in FY 2021-22. 46 Sona Comstar Annual Report 2022-23 FINANCIAL STATEMENTS STATUTORY REPORTS CORPORATE OVERVIEW 47 Always prioritising our human capital We place utmost importance on the safety and well-being of our employees and undertake many initiatives in this regard. Within Sona Comstar, we are creating safe, fair, equitable and inclusive working environments where our people can develop and achieve their full potential. It is our priority to promote a diverse and inclusive workplace. Social – People We recognise the importance of focusing on employee development and being an attractive employer. Attracting, developing, and retaining top talent is a key component of our operational excellence. We understand the need to adapt to evolving circumstances and prepare our employees for future challenges",
"page_number": 27,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "16 of the Listing Regulations. The synopsis of the minutes of the Board meetings of the subsidiary companies are placed at the Board meeting of the Company on quarterly basis. The Audit Committee reviews the financial statements including investments by the unlisted subsidiaries of the Company. The management periodically brings to the notice of the Audit Committee and the Board of Directors of the Company, a statement of all significant transactions and arrangements entered into by unlisted subsidiaries, if any. The policy for determining material subsidiaries is available on the Company’s website at https://sonacomstar.com/ policies-and-codes Disclosure of Commodity Price Risk and Commodity Hedging Activities Major commodities used in the manufacturing processes of the company include steel, copper and aluminium. Most of our customer contracts have a benchmark price pass through arrangement for steel and steel alloys in case of differential gears and differential assemblies and copper in case of starter",
"page_number": 78,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "dedicated R&D vertical with a robust pipeline of over 20 initiatives spanning areas such as process improvement, waste utilisation, and product development. In FY 2022, the Company achieved a milestone by becoming the first Indian aluminium producer to manufacture low-carbon aluminium products under the brand name 'Restora.' The Restora brand offers two product lines: Restora (low-carbon aluminium) and Restora Ultra (ultra-low-carbon aluminium). • At HZL, R&D around Zn metal recovery from treatment of lead concentrates, and process for controlling concentrate impurities while using non-hazardous cost-effective reagents is underway. • Vedanta’s Iron and Steel business has partnered with IIT Bombay (IIT-B) on an R&D project to develop cost-effective technology for producing Green Steel using hydrogen instead of coke in their manufacturing process targeting significant carbon footprint reduction in iron and steel space. We also have had good success with replacing coke with alternatives like Briquettes. CAPEX** HZL- plant at Zinc Smelter",
"page_number": 335,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "caters to steelmaking, construction, and infrastructure sectors. It sells more than 65% of pig iron and 69% of iron ore in the domestic market. In FY 2023, the Company strengthened its industry position by ramping up mining operations. It bagged iron ore blocks FEE grade and BICO in Odisha’s HIGH CARBON FERRO CHROME Overview High carbon ferro chrome (HCFC) is a key raw material in stainless steel, adding special characteristics of non- corrosiveness, high durability and temperature resistance. Over 80% of all ferrochrome goes into manufacture of stainless steel, making it a key demand driver. South Africa is the largest HCFC supplier and has significant bearing on market dynamics. However, Asia led by China is the largest consuming markets with 85% and 60% of the global HCFC consumption, respectively. China’s large overall import/merchant demand continues to make it the most influential market for global supply-demand dynamics and prices. In CY",
"page_number": 156,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "GW by 2030. PLI scheme and policies like the Green Energy Open Access Rules, Energy Conservation (Amendment) Bill 2022 and renewable energy generation and utilisation (renewable purchase obligations) are incentivising this change. The Union Budget FY 2023-24 has also given due importance to renewable energy with increased capital outlay. VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 122 STEEL Overview India is the second-largest steel producer in the world. Steel is one of India’s core industries, contributing more than 2% to the GDP. In FY 2023, India’s crude steel production increased by 4% to 125 million tonnes. Indian government’s continuous focus on infrastructure building has led to an increase in Indian steel finished consumption by 13% to 119 million tonnes in FY 2023. In eastern states, steel demand was relatively higher due to the projects like Hockey World Cup in Odisha and various rail bridge constructions in the North-Eastern",
"page_number": 155,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "belts. The steel product prices, however, have been volatile. The domestic long steel prices reached highs of ~`70,000/tonne during April 2022, as raw material prices increased following the Russia-Ukraine war. However, with increase in export duty during May-December, 2022, the prices fell as domestic market-focussed producers liquidated inventories. Prices recovered back to `60,000/tonne levels during March 2023 with reversal of export duty, and subsequent uptick in export orders along with improved domestic demand. Products and customers ESL Steel Limited presently has 1.5 MTPA of steel manufacturing capacity, with projects underway to expand the capacity to 3 MTPA in FY 2024. The Company’s portfolio includes pig iron, billets, TMT bars, wire rods and ductile iron pipes which are sold across construction, infrastructure, transport, energy. In FY 2023, the Company developed various new wire rods grades, including Boron Alloy Grades in co-ordination with customers to meet their requirements. It received several notable",
"page_number": 155,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "of Total Income y-o-y change (FY23 vs. FY22) Material cost1 12,200 45% 9,456 44% 29% Employee cost 1,804 7% 1,689 8% 7% Finance cost 169 1% 183 1% (8%) Depreciation 1,780 7% 1,420 7% 25% Other expenses 5,795 22% 4,571 21% 27% Total Expenses 21,747 81% 17,318 81% 26% 1Material cost includes the cost of materials consumed and changes in inventories of finished goods and work-in-progress. Material cost The cost of materials consumed primarily includes the cost of raw materials such as special steel alloy bars, iron castings, steel blanks, bolts for the manufacturing of differential gears, differential assemblies and steel forgings, copper enamelled wires, machined aluminium pressure die castings, bearings, magnets, plastic moulded components, other proprietary parts for manufacturing starter motors and BLDC motors. Material cost accounted for 45% and 44% of our total income for FY 2022-23 and FY 2021-22, respectively. It has gone up despite a favourable",
"page_number": 40,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "Highest ever refined zinc-lead production Oil & Gas 143 kboepd Average gross operated production 208 kt Record mined metal production at Gamsberg Iron Ore 5.3 million tonnes Production of saleable ore at Karnataka 696 kt Pig Iron production Aluminium 2,291 kt Highest ever aluminium production 714 tonnes Ever-highest silver production Key FY 2023 outcomes Business highlights 7% 25% 11% 22% YoY YoY YoY 10% YoY Steel Copper India 1.37 million tonnes Highest ever hot metal production 148 kt Cathode production from the Silvassa 1% YoY 1.29 million tonnes Record saleable production 2% YoY 18% YoY YoY FACOR 290 kt Record chrome ore production 16% YoY 67 kt Ferro chrome production 11% YoY We invest in best-in-class equipment and machinery to ensure operational efficiency and safety, at both our current operations and expansion projects. This also supports our strong and sustainable cash flow generation. Pg. 132 3 STATUTORY REPORTS FINANCIAL STATEMENTS",
"page_number": 35,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Bharat Aluminium (BALCO) 95.5% ESL Steel Limited 100% Zinc International* 99.99% Ferro Alloy Corporation Ltd. (FACOR) Aim 7 Prioritising safety and health of all employees Aim 8 Promote gender parity, diversity and inclusivity Aim 9 Adhere to global business standards of corporate governance Transforming the workplace *Skorpion -100% BMM & Gamsberg – 74% **50% of the share in the RJ Block is held by a subsidiary of Vedanta Limited 9 STATUTORY REPORTS FINANCIAL STATEMENTS INTEGRATED REPORT VEDANTA AT A GLANCE WORLD-CLASS DIVERSIFIED NATURAL RESOURCES POWERHOUSE Global Note: Maps not to scale; Lisheen Mine had safe, detailed and fully costed closured after 17 years of operation in Nov’2015 and Mt. Lyell Mine is under care and maintenance PRESENCE COPPER ALUMINIUM POWER IRON ORE ZINC OIL & GAS CAPTIVE POWER PLANT GLASS MULTIPLE STEEL MET COKE CEMENT NICKEL PORT FERRO ALLOYS Ireland Lisheen Mine UAE Fujairah Gold Liberia Iron Ore Project",
"page_number": 42,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "of the turnover): S. No. Description of Main Activity Description of Business Activity % of Turnover of the entity 1 Manufacturing Metal and metal products 56% 2 Mining and quarrying Mining of metal ores 29% 3 Mining and quarrying Extraction of crude petroleum and natural gas 10% 15. Products/Services sold by the entity (accounting for 90% of the entity’s Turnover): S. No. Product/Service NIC Code % of total Turnover contributed 1 Oil 0610 8.56% 2 Zinc metal 7296 19.95% 3 Lead metal 07296 3.32% 4 Silver metals and bars 24205 3.15% 6 Copper products 24201 11.74% 7 Aluminium products 24202 36.01% 8 Power 3510 3.64% 9 Steel products 2410 4.31% 1. SECTION A: GENERAL DISCLOSURES BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT 291 BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT INTEGRATED REPORT STATUTORY REPORTS FINANCIAL STATEMENTS 1.2.1 Operations 16. Number of locations where plants and/or operations/offices of the entity are situated: Location Number",
"page_number": 324,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "tonnes • Pig Iron: 696 kt • Zinc International: 273 kt • Steel: 1,285 kt • Copper: 148 kt Iron Ore Steel Ferro Alloys Copper Communities `454 CRORE CSR spend Governments `73,486 CRORE Exchequer Contribution Industries `35,116 CRORE Local Procurement Excellence Integrity Care Respect Extract We operate low-cost mines and oil fields, with a clear focus on safety and efficiency Process We focus on operational excellence and high asset utilisation to deliver top-quartile cost performance and strong cash flows Market We supply our commodities to customers in varied industry sectors, from automotive to construction, with a product base ranging from energy to consumer goods 43 STATUTORY REPORTS FINANCIAL STATEMENTS INTEGRATED REPORT VALUE CREATION MODEL OPPORTUNITIES A MULTI-FACETED APPROACH TO FUTURE-PROOFING Global metal and mining industry is reshaping with rapidly- evolving externalities centred on decarbonisation, digitalisation, supply chain disruptions and market volatility. While necessitating change in the business model, these",
"page_number": 76,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Steel Limited Facor Realty and Infrastructure Limited (b) Ferro Alloys Corporation Limited (e) Facor Power Limited (e) Fujairah Gold FZC Goa Sea Port Private Limited (g) Hindustan Zinc Alloys Private Limited Hindustan Zinc Fertilisers Private Limited (c) Hindustan Zinc Limited Killoran Lisheen Mining Limited Lakomasko BV (b) Lisheen Milling Limited Lisheen Mine Partnership Malco Energy Limited Maritime Ventures Private Limited (g) Monte Cello BV Namzinc (Proprietary) Limited Paradip Multi Cargo Berth Private Limited (g) Sesa Mining Corporation Limited (g) Sesa Resources Limited Skorpion Mining Company (Proprietary) Limited Skorpion Zinc (Proprietary) Limited Sterlite Ports Limited (g) Talwandi Sabo Power Limited Thalanga Copper Mines (Proprietary) Limited THL Zinc Holding BV THL Zinc Limited THL Zinc Namibia Holdings (Proprietary) Limited THL Zinc Ventures Limited Vedanta Lisheen Holdings Limited Vedanta Lisheen Mining Limited Vedanta Zinc Football & Sports Foundation Vizag General Cargo Berth Private Limited Western Cluster Limited Zinc India Foundation (c) F) Post",
"page_number": 464,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "at Karnataka at 5.3 million tonnes • Pig Iron production at 696 kt • Iron ore sales at Goa at 0.7 million tonnes Steel • Highest ever hot metal production of 1.37 million tonnes, up 1% YoY • Highest ever saleable production of 1.28 million tonnes post-acquisition, up 2% YoY • Highest ever DIP production of 196 kt, up 20% YoY FACOR • Record chrome ore production recorded at 290 kt, up 16% YoY • Ferro chrome production of 67 kt, down 11% YoY and sales of 67 kt, down 12% YoY Copper India • Due legal process being followed to achieve a sustainable restart of operations • Cathode production from Silvassa was 148 kt, up by 18% YoY driven by continuous debottlenecking of plant capacity and improved operational efficiencies • Enhanced product portfolio to include Research Designs and Standards Organisation approved 19.6 MM and 23.5 MM Rod The details",
"page_number": 207,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Africa 5,316 5,105 Namibia 888 990 Taiwan 1,041 893 Other 1,632 646 Total 1,20,514 1,15,549 C) Information about major customer No single customer has accounted for more than 10% of the Group’s revenue for the year ended 31 March 2023 and 31 March 2022. D) Disaggregation of Revenue Below table summarises the disaggregated revenue from contracts with customers (` in Crore) Particulars Year ended 31 March 2023 Year ended 31 March 2022 Zinc metal 29,002 24,709 Lead metal 4,821 4,240 Silver metals and bars 4,577 4,215 Oil 12,448 10,275 Gas 2,807 1,712 Aluminium products 52,356 51,253 Copper products 17,070 14,281 Iron ore 2,328 2,354 Metallurgical coke 463 406 Pig iron 4,059 4,123 Power 5,288 3,886 Steel products 6,272 5,698 Ferro alloys 768 830 Others 3,725 3,119 Revenue from contracts with customers* 1,45,984 1,31,101 Revenue from contingent rents 1,543 1,381 Losses on provisionally priced contracts under Ind AS 109 (2,123) (1,290)",
"page_number": 523,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "carbon footprint. The focus is to operate with the highest Environment, Health and Safety standards, while improving efficiencies and unit costs. The focus areas comprise: Ensuring business continuity Innovation in Technology for sustainable operations/production Development of low-cost CapEx products (Alloy Steel Segments and Flat Products) to capture market share Optimise and significantly reduce logistics cost over time Greater focus on Reliability Centred Maintenance Obtain clean ‘Consent to Operate’ and environmental clearances Raw material securitisation through long-term contracts; approaching FTA countries for coking coal Ensure zero harm and zero discharge, fostering a culture of 24x7 safety culture 163 MANAGEMENT DISCUSSION AND ANALYSIS STATUTORY REPORTS FINANCIAL STATEMENTS INTEGRATED REPORT FERRO ALLOYS CORPORATION LIMITED (FACOR) VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 164 Occupational Health Safety It is with deep sadness that we report the loss of two of our colleagues (Business partners) in work-related incidents at our managed operations",
"page_number": 197,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "global experience. Drawing from this deep insight, the team ensures that operations are run efficiently and responsibly • Disciplined approach to development; achieving steady production growth across operations with a focus on efficiency and cost savings • Since our listing in 2004, our assets have delivered a phenomenal production growth Total Production Copper Equivalent (kt) FY 2004 1,800 2,000 1,600 1,400 1,200 1,000 800 600 400 200 0 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Zinc-Lead Silver Copper Aluminium Steel Power Iron Ore Oil & Gas 10x or ~13% CAGR* Production Growth against India’s GDP of 6-8% 19 STATUTORY REPORTS FINANCIAL STATEMENTS INTEGRATED REPORT OUR INVESTMENT CASE Disciplined capital allocation framework with emphasis on superior and consistent shareholder",
"page_number": 52,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Blocks, 10 DSF Blocks and 1 CBM Block) Iron & Steel • India’s largest private sector exporter of iron ore since 2003, according to the Federation of Indian Mineral Industries • ESL Steel is engaged in the manufacturing of steel with a total current capacity of 1.5 million tonnes per year and the potential to increase to 3 million tonnes per year • Diverse portfolio, strong exposure to right commodities — Aluminium, Zinc, Silver, Oil & Gas • Tier-1 low-cost assets with margin stability through commodity cycle • Strong management team with track record of delivering growth • Long-life assets with exploration upside • Well-placed to benefit from growing Indian economy, favorable regulatory environment • Natural benefit from large market size and supply- demand gap World-Class Natural Resources Powerhouse Competitive position in Indian and Global market • Production ramp-up across all businesses • Unlock operating efficiencies through technology and digitalisation",
"page_number": 205,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Reduction pursuant to merger c (23) - (23) - - ESL Steel Limited, of ` 10 each (including 6 shares held jointly with nominees) 1,76,55,53,040 1,770 1,76,55,53,040 1,770 - Ferro Alloys Corporation Limited, of ` 1 each (including 6 shares held jointly with nominees) (Refer Note 3(d)) 34,00,00,000 37 34,00,00,000 37 378 VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 NOTES forming part of the financial statements as at and for the year ended 31 March 2023 Particulars As at 31 March 2023 As at 31 March 2022 No. Amount (` in Crore) No. Amount (` in Crore) Associate companies - unquoted - Gaurav Overseas Private Limited, of ` 10 each 14,23,000 1 4,23,000 0 Investment in equity shares at fair value through other comprehensive income Quoted - Sterlite Technologies Limited, of ` 2 each 47,64,295 70 47,64,295 107 Unquoted - Sterlite Power Transmission Limited, of ` 2 each",
"page_number": 411,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "STATEMENTS INTEGRATED REPORT IRON ORE Overview Global iron ore prices witnessed significant volatility in CY 2022. The prices reached a peak of US$160/t in March 2022, driven by concerns over loss of significant supply in the context of geopolitical conflict in Europe. The prices gradually dropped through the year to touch a low of US$79/t in October 2022, owing to weakness in Chinese real estate sector. However, the iron ore prices firmed up in the following months and stabilised around ~US$120-130/t level in March 2023. In India, FY 2023 iron ore production was stable at ~250 million tonnes with 6% increase in domestic steel production. However, iron ore exports fell by ~23% to ~20 million tonnes as Government of India (GoI) increased iron ore export duty in May 2022. Iron ore prices moved in tandem with global price movement during early CY 2022, however, the pricing later was decoupled",
"page_number": 156,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "of 84.92 MTPA. VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 124 Products and customers Though India is an export-oriented country, Ferro Alloys Corporation (FACOR) is the second largest supplier of HCFC in the domestic merchant market. In FY 2023, FACOR sold 85% of its total ferro chrome volume within India, primarily to stainless steel and alloy steel producers. The Company is focussed on developing value added products (VAP) portfolio. It increased its VAP capacity from 75 KTPA to 150 KTPA in FY 2023 to address niche markets in North America, Europe and South Korea. In FY 2024, the Company will be focussed on enhancing its volume and footprint both in Indian and global markets. Market Drivers Stainless steel demand and prices are the key market drivers for HCFC. With growing demand from infrastructure projects in developing countries and demand resumption from the largest market of China, stainless steel",
"page_number": 157,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "India 3 MTPA design capacity1 VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 14 Business Copper India Asset Highlights • Tuticorin smelter and refinery are currently not operational • Tuticorin Smelter Capacity: 400 KTPA • Silvassa Refinery Capacity: 216 KTPA Application Areas • Used for making cables, transformers, castings, motors and alloy-based products Business Ferro Alloys Corporation Ltd Asset Highlights • Ostapal and Kalarangiatta Mines have 290 KTPA mining capacity • Charge chrome plant of 80 KTPA and captive power plant of 100 MW Application Areas • Used for making stainless steel, carbon steel, ball-bearing steels, tool steels and other alloy steels `149 crore `(4) crore EBITDA EBITDA Production Volume 67 kt Ferro chrome Production Volume 148 kt Cathode COPPER One of the largest copper production capacity in India FACOR 80 KTPA charge chrome/ferro chrome capacity with 100 MW power plant; 290 KTPA chrome ore mining capacity 15 STATUTORY",
"page_number": 47,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "accreditation approvals, including from UK CARES for TMT. It also secured various domestic approvals, such as blanket approval from the National Highways Authority of India and UP Metro Rail corporation, UP Bridge Corporation, Satluj Jal Vidyut Nigam, IOC Panipat Refinery, Jal Jeevan Mission, Water Corporation of Orissa and Rural Water Supply and Sanitation department. The Company further added several esteemed customers to its portfolio, from infrastructure, steel and engineering sectors. For FY 2024, ESL is prioritising developing value-added grades of wire rods, increasing alloy grades and enhancing retail segments. The Company is also focussed on digitalisation to ensure fair price recovery and conducting auctioned sales for prime grades of all products. Market Drivers In FY 2024, steel demand in India is expected to be robust. The government’s push to increase steel production as per the National Steel Policy, focus to make India a US$5 trillion economy and ‘Make in India’",
"page_number": 155,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "performed resiliently amidst challenges that were used as an opportunity to be future-ready by undertaking yield improvement, debottlenecking and plant maintenance initiatives. ESL registered an increase in saleable production to 1,285 kt with the highest ever net sales realisation, resulting in favourable EBITDA margins. It continued to prioritise its value-added portfolio, resulting in a 5% increase in its sales. ESL successfully operationalised two iron ore mines with 100% captive sourcing of iron ore. FACOR We successfully commenced production at new 60 KTPA furnace in February 2023, taking the total Fe-Cr alloy capacity to 140 KTPA. We also completed the merger of FACOR and FACOR Power Plant Limited. FACOR recorded the highest-ever chrome ore production at 290 kt in FY 2023, a 16% increase over the previous year. Ferrochrome production decreased by 11% to 67 kt. Nicomet In FY 2023, we successfully operationalised the Nicomet plant and were able to stabilise",
"page_number": 61,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "listed entity Does the entity indicated at column A, participate in the Business Responsibility initiatives of the listed entity? (Yes/No) 1 Copper Mines of Tasmania Pty Limited (CMT) Subsidiary 100 Yes 2 Thalanga Copper Mines Pty Limited (TCM) Subsidiary 100 Yes 3 Athena Chhattisgarh Power Limited Subsidiary 100 Yes 4 Bharat Aluminium Company Limited (BALCO) Subsidiary 51 Yes 5 Desai Cement Company Private Limited Subsidiary 100 Yes 6 ESL Steel Limited Subsidiary 95.49 Yes 7 Ferro Alloy Corporation Limited (FACOR) Subsidiary 99.99 Yes 8 Goa Sea Port Private Limited Subsidiary 100 No 9 Hindustan Zinc Alloys Private Limited Subsidiary 100 No 10 Hindustan Zinc Fertilizers Private Limited Subsidiary 100 No 11 Hindustan Zinc Limited (HZL) Subsidiary 64.9 Yes 12 MALCO Energy Limited (MEL) Subsidiary 100 No 13 Maritime Ventures Private Limited Subsidiary 100 No 14 Paradip Multi Cargo Berth Private Limited Subsidiary 100 No 15 Sesa Mining Corporation Limited Subsidiary",
"page_number": 325,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "the proposed RPTs The Company has undertaken/proposed to undertake RPTs with TSL its subsidiaries and third party dealers. The RPTs involve purchase & sale of goods / raw materials and availment of services during FY 2023-24 for an aggregate value not exceeding `4,240 crore. c. Percentage of the Company’s annual consolidated turnover, for the immediately preceding financial year, that is represented by the value of the proposed RPTs. 1.23% 2. Justification for the proposed RPTs One of the important objectives of the Company is to meet the business requirements and quality of the product which the company manufactures. TSL is a leading manufacturer of steel in India and meets the quality standard requirement of the Company’s manufacturing units. In light of above and other commercial factors, aforementioned transactions are undertaken, which will help both the companies to smoothen business operations and also ensure a consistent flow of desired quality and",
"page_number": 522,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "our Aluminium as well as Iron & Steel business and if so, it may lead to increased compliance costs. The Company would need to account for the carbon content of its products and potentially pay additional fees or taxes for imports into countries implementing CBAM. Also, application of CBAM could potentially increase the Company’s risk exposure due to decreased market access. Opportunity: Vedanta recognises that transition towards a low carbon economy has resulted in increasing demand for low/ zero carbon metals. Vedanta can leverage its expertise and resources to tap into these opportunities while at the same time reducing its carbon footprint. In FY 2022, the Company launched India’s first line of low- carbon aluminium under the brand names of Restora and Restora Ultra. Similarly, the Company is also developing a line of low-carbon copper and the plan is to expand the production of these product-lines over the next decade,",
"page_number": 328,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "in coking coal prices during the year, uncontrollable factors and operational inefficiencies. Financial performance Particulars FY 2023 FY 2022 % Change Revenue 7,852 6,474 21% EBITDA 316 701 (55%) EBITDA margin 4% 11% - Revenue increased by 21% to `7,852 crore (FY 2022: `6,474 crore), primarily due to higher volume and NSR. EBITDA decreased by 55% to `316 crore mainly due to increased cost partially offset by increased sales realisation. Strategic priorities & outlook Steel demand is expected to surge owing to the gradual recovery in economic activities across the world, robust demand from key sectors and the emphasis of governments to ramp up infrastructure spend in India. With the growing demand for steel in India, ESL has prioritised to increase its production capacity from 1.5 MTPA to 3 MTPA by FY 2025 and 5 MTPA by FY 2027 with a vision to become high-grade, low-cost steel producer with lowest",
"page_number": 195,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Commerce & Industry FIMI Federation of Indian Mineral Industries FMCG Fast-moving Consumer Goods FOG Fall of Ground FRHC Fire-refined High Conductivity FTSE Financial Times Stock Exchange FY Financial Year GCC Gulf Cooperation Council GDP Gross Domestic Product GHG Greenhouse Gas GISTM Global Industry Standard on Tailing Management GoI Government of India GRI Global Reporting Initiative GRMC Group Risk Management Committee GW Giga Watt 577 ABBREVIATIONS HCFC High Carbon Ferro Chrome HR Human Resource HSE Health, Safety and Environment HVLT High Volume Low Toxicity HZAPL Hindustan Zinc Alloys Private Limited HZL Hindustan Zinc Limited IBAT Integrated Biodiversity Assessment Tool IBBI Indian Biodiversity Business Initiative ICMM International Council on Mining and Metals ICSI Institute of Company Secretaries of India IFC International Finance Corporation IHS Information Handling Services IIM Indian Institute of Management IIME Indian Institute of Mineral Engineers IIRC International Integrated Reporting IMD International Institute for Management Development IMF International Monetary",
"page_number": 610,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "which stood at 56.4 in March 2023 as compared to 54.7 in April 2022 and 55.3 in February 2023, reflecting expansion in manufacturing sector. The Indian automobile industry is on a growth trajectory, with 13.5% increase in production to reach 227 lakh units till February 2023 from April 2022, compared to the same period in the previous fiscal. The passenger vehicle sales stood at 29 lakh units, marking a growth of 30% over the same period in the previous year. (Source: SIAM & SP Global Index) The finished steel domestic production was at 110.44 million tonnes during April 2022 to February 2023, up by 7.2% over the same period in the previous year. Consumption in domestic market during the same period stood at 108.15 million tonnes, up by 12.6%. The total net finished steel exports till February 2023 stood at 5.90 million tonnes, down by 52% over same period in",
"page_number": 168,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "commodity inflation Our ability to supply components, in time, to our manufacturing operations is of paramount importance in achieving production schedules and meeting consumer demand. In the recent past, we have been witnessing increased geo- political tensions globally. An increasing demand for electric vehicles is also leading to price volatility and reduced availability of raw materials within the supply base. Recently commodity prices, especially precious metals, have experienced significant volatility. Steel, a principal component for CVs, has witnessed exponential price increases, but has stabilised in the current year. Principal risks Consequences Mitigations and opportunities Supply chain disruptions, if not managed, could have an adverse effect on production volume, revenue and profitability, customer satisfaction and reputation. Shortage in the supply of semiconductors has continued to impact our production schedules in FY 2022-23. The Russia-Ukraine war has had a significant impact on the global economy, leading high inflation. Raw materials make up",
"page_number": 45,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "by several macro-economic factors. These include global economic slowdown, US-China trade war, Russia-Ukraine war, duties on iron and steel products, supply chain destocking, government expenditure on infrastructure, the emphasis on developmental projects, demand-supply dynamics, the Purchasing Managers’ Index (PMI) in India and production and inventory levels across the globe especially China. Even though the NSR increased by US$29 per tonne, we were unable to increase our EBITDA margin & landed to US$32 per tonne for the year (against US$74 per tonne in FY 2022) due to increased raw material prices of coking coal, which continued to remain high in in Q2 and Q3, when the market prices for steel products declined sharply. Unit costs Particulars FY 2023 FY 2022 % Change Steel (US$ per tonne) 656 585 12% Cost has increased by 12% YoY from US$585 per tonne to US$656 per tonne in FY 2023, primarily on account of increase",
"page_number": 195,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "strong double-digit return on capital employed ~21% • Net Debt/EBITDA of ~1.28x, maintained within capital allocation framework • Record Free cash flow (pre capex) of `28,068 crore, up 3% YoY Operational Highlights Aluminium: 2.3 million tonnes HZL: crossed 1 million tonnes mark • MIC: 1.062 million tonnes • Refined metal: 1.032 million tonnes Gamsberg: 208 kt, up 22% YoY ESL: saleable production of 1.3 million tonnes Record production across key business Coal Mines • Jamkhani: Production commenced • Chhotia restarted Successful bidder for: • Bicholim iron ore mine in Goa • Sijimali bauxite mine • Ghogarpalli and Barra coal block FACOR New Furnace 60 KTPA commissioned Cairn - 10-year PSC extension for RJ block Other key achievements • Aluminium: Highest ever Aluminium production of 2,291 kt, up 1% with Jharsuguda ramp-up • Zinc India: Historic high refined metal production at 1,032 kt, up 7% YoY • Zinc International: Gamsberg achieved",
"page_number": 206,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "settling all such issues, questions, difficulties or doubts whatsoever that may arise and to take all such decisions from powers herein conferred; and delegate all or any of the powers herein conferred to any Director, Chief Financial Officer, Company Secretary or any other Officer / Authorised Representative of the Company, without being required to seek further consent from the Members and that the Members shall be deemed to have accorded their consent thereto expressly by the authority of this Resolution. RESOLVED FURTHER THAT all actions taken by the Board in connection with any matter referred to or contemplated in this Resolution, be and is hereby approved, ratified and confirmed in all respects.” 16. Material Related Party Transaction(s) of the Company with Tata Steel Limited (TSL), identified subsidiaries / affiliates of TSL and Poshs Metals Industries Private Limited (a third party) through dealers of TSL. To consider and, if thought fit,",
"page_number": 489,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "to optimise production and increase the life of the resource. We have also developed strategic processing facilities. Extraction Our operations are focussed on the exploration and production of metals, oil and gas extraction besides power generation. We extract zinc- lead-silver, iron ore, steel, copper and aluminium. We have three operating blocks in India producing oil and gas. Value addition We meet market requirements by converting the primary metals produced at our facilities into value-added products such as sheets, rods, bars, rolled products, etc. at our zinc, aluminium and copper businesses. Processing We produce refined metals by processing and smelting extracted minerals at our zinc, lead, silver, copper, and aluminium smelters, and other processing facilities in India and Africa. As a best practice measure, we also generate captive power and sell any surplus power. VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 8 ESG PURPOSE AND MISSION TRANSFORMING FOR GOOD",
"page_number": 41,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "metal due to debottlenecking of blast furnace and operational efficiencies. The priority remains to enhance production of value-added products (VAPs), i.e., TMT Bar, Wire Rod and DI Pipe. ESL achieved 83% VAP sales, 5% improvement in FY 2023, in line with priority. There have been significant gains in Sales & NSR front. However, operational inefficiencies, higher raw material prices of coking coal & other market factors resulted in higher cost of sales. We are trying to stable our raw material prices. We have acquired two iron ore mines to achieve raw material long-term security & pricing stability. Our Consent to Operate (CTO) for the steel plant at Bokaro, which was valid until December 2017, was not renewed by the Jharkhand State Pollution Control Board (JSPCB). This was followed by the Ministry of Environment, Forests and Climate Change (MoEF&CC) revoking the Environmental Clearance (EC) dated 21 February 2018. MoEF&CC, on 25",
"page_number": 194,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "reduce cost and increase efficiency and recovery Zinc International • 500 KTPA production from South Africa at a low cost of production • 150 KTPA metal production from Skorpion Oil & Gas • Increase production from existing assets through the use of leading- edge technologies, large-scale AIML (artificial intelligence and machine learning enabled base) • End-to-end output-based Operations and Maintenance (O&M) model • Continue to operate at a low cost- base and generate free cash flow post-capex Aluminium • Lower hot metal cost of production through increased domestic Alumina & captive coal consumption • Continued focus on quality, asset reliability and optimisation, digitalisation, innovation, and R&D Zinc India • Maintain cost of production at below US$1,000 per tonne through efficient ore hauling, higher volume & grades and higher productivity through ongoing efforts in automation and digitalisation • Elimination of waste generation by gainful utilisation and recycling • Deploy new innovation",
"page_number": 87,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Thalanga Copper Mines Pty Limited (\"TCM\") Copper Mining Australia Monte Cello BV 100.00 100.00 3 Athena Chattisgarh Power Limited (a) Power Generation India Vedanta Limited N/A - 4 Bharat Aluminium Company Limited (\"BALCO\") Aluminium mining and smelting India Vedanta Limited 51.00 51.00 5 Desai Cement Company Private Limited Cement India Sesa Mining Corporation Limited 100.00 100.00 6 ESL Steel Limited Manufacturing of Steel & DI Pipe India Vedanta Limited 95.49 95.49 7 FACOR Power Ltd (Refer Note 4(b)) Power generation India Ferro Alloy Corporation Limited (\"FACOR\") - 90.00 8 Facor Realty and Infrastructure Limited (b) Real estate India FACOR - 100.00 9 Ferro Alloy Corporation Limited (\"FACOR\") (Refer Note 4(b)) Manufacturing of Ferro Alloys and Mining and generation of power India Vedanta Limited 99.99 100.00 10 Goa Sea Port Private Limited 2 Infrastructure India Sterlite Ports Limited 100.00 100.00 11 Hindustan Zinc Alloys Private Limited Manufacturing of metals and its",
"page_number": 594,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "• Turnaround performance of acquisition assets • Net Zero carbon by 2050; reduce 25% carbon emissions by 2030 • Net water positive by 2030 • Channeling innovation for a greener business model • Uplifting lives of people where we work and beyond • Contributed ~`73,486 crore to exchequer in FY 2023 Delivering growth by capacity expansion Contributing to a sustainable development Uniquely Positioned to Deliver Sustainable Value 173 DIRECTORS’ REPORT INTEGRATED REPORT STATUTORY REPORTS FINANCIAL STATEMENTS Business highlights Zinc India • Record ore production of 16.74 million tonnes • Highest ever annual mined metal production of 1,062 kt, up 4% YoY • Highest ever annual refined zinc-lead production of 1,032 kt, up 7% YoY Zinc International • Record mined metal production at Gamsberg of 208 kt, up 22% YoY. On track to surpass design capacity in FY 2024 • Significant increase in BMM production YoY by 25% to 65",
"page_number": 206,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "has been implemented and is estimated to reduce 3,554 tCO2 eq./year. • Under the sustainable packaging initiative, a 100% recyclable packaging solution has been introduced for the copper rod. This packaging provides protection even under adverse climate conditions and has led to customer delight. • With the view to recover minor metals and ensure additional revenue, some crucial in-house R&D has been performed and a new process to recover Precious Metals from anode Slime has been successfully developed. In addition to this, tellurium has also been recovered. Along with it, Selenium recovery trials are in pipeline. In Iron & Steel sector, the focus is to produce green steel, green pig iron and green iron ore production. • Currently R&D study is ongoing with the IIT, Bombay to develop technology for green hydrogen production. IIT, Bombay has done studies on industrial iron ore samples and witnessed positive outcomes. Further development",
"page_number": 224,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "of plants Number of offices Total National 82 26 108 International 9 8 17 17. Markets served by the entity: a. Number of locations* Locations Number National (No. of States) 24 International (No. of Countries) 43 * Includes only for HZL b. What is the contribution of exports as a percentage of the total turnover of the entity? The contribution of exports is ~30% of the total turnover of the entity. c. A brief on types of customers Vedanta Limited (VEDL) is engaged in the business of supply of power, metals & minerals, and oil & gas. The Company produces and supplies a range of minerals and metals, including aluminium, copper, iron ore, zinc, silver, and lead. Our customers are industrial consumers, such as those in the automotive, steel, power generation, infrastructure, battery manufacturing and oil sectors. Details as at the end of Financial Year: 18. a. Employees and workers",
"page_number": 324,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "- 0.12% 24 6 Sesa Mining Corporation Limited(1) (0.17%) (110) 0.29% 54 (0.12%) (1) 0.27% 53 7 Sterlite Ports Limited(1) (0.01%) (6) (0.00%) (0) 0.00% - (0.00%) (0) 8 Vizag General Cargo Berth Private Limited (0.02%) (11) (0.12%) (23) 0.02% 0 (0.12%) (23) 9 Paradip Multi Cargo Berth Private Limited(1) (0.00%) (2) (0.00%) (0) 0.00% - (0.00%) (0) 10 Maritime Ventures Private Limited(1) 0.06% 36 0.08% 15 0.00% - 0.08% 15 11 Goa Sea Port Private Limited(1) (0.00%) (3) 0.00% - 0.00% - 0.00% - 12 Vedanta Limited ESOS Trust 0.08% 51 0.00% - 0.00% - 0.00% - 13 ESL Steel Limited 9.37% 6,128 (0.51%) (95) (0.36%) (3) (0.50%) (98) 14 Ferro Alloy Corporation Limited (FACOR)(2) 0.96% 629 1.35% 253 (0.24%) (2) 1.28% 251 15 Facor Realty and Infrastructure Limited (a) 0.00% - (0.00%) (0) 0.00% - (0.00%) (0) 16 FACOR Power Ltd (2) (1.09%) (715) (0.27%) (50) 0.00% -",
"page_number": 601,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "by ` 74 Crore. Accordingly, the impairment recorded in previous periods has been reversed, to an extent of ` 644 Crore pertaining only to the assets of the Bomi Mine. d) In relation to a mine in Aluminium business of the Company, the Company had deposited ` 125 Crore with the Government of India. Thereafter, the MoEF&CC and the Supreme Court declared the mining project inoperable on environmental grounds. Later, in 2017, the mining license lapsed. Accordingly, the deposit was fully provided for during the previous year. e) During the year ended 31 March 2022, ESL Steel Limited had recognised a provision of ` 46 Crore relating to certain items of capital work-in-progress basis the physical verification. f) During the year ended 31 March 2022, ` 6 Crore was written off being the cost of land located outside the plant for which details of original owners/sellers etc., were not available",
"page_number": 575,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "alloys India Hindustan Zinc Limited 100.00 100.00 12 Hindustan Zinc Fertilizers Private Limited (c) Manufacturing of phosphatic fertilisers India Hindustan Zinc Limited 100.00 - 13 Hindustan Zinc Limited (\"HZL\") Exploring, extracting, processing of minerals and manufacturing of metals India Vedanta Limited 64.92 64.92 14 MALCO Energy Limited (\"MEL\") Power Generation India Vedanta Limited 100.00 100.00 15 Maritime Ventures Private Limited 2 Infrastructure India Sterlite Ports Limited 100.00 100.00 16 Paradip Multi Cargo Berth Private Limited 2 Infrastructure India Sesa Resources Limited 100.00 100.00 17 Sesa Mining Corporation Limited 2 Iron ore mining India Sesa Resources Limited 100.00 100.00 18 Sesa Resources Limited (\"SRL\") Iron ore mining India Vedanta Limited 100.00 100.00 19 Sterlite Ports Limited 2 Infrastructure India Sesa Resources Limited 100.00 100.00 20 Talwandi Sabo Power Limited (\"TSPL\") Power Generation India Vedanta Limited 100.00 100.00 21 Vedanta Zinc Football & Sports Foundation Sports Foundation India Hindustan Zinc Limited 100.00",
"page_number": 594,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "prospective EP Partners. Construction Tender released on 23 November 2022. We have received the environmental approval for the Smelter & Bulk water pipeline construction. The Smelter EC is currently under appeal phase. We are also engaging with Gov. of South Africa on the other critical success factors like SEZ, power price, sulphuric acid offtake, logistics infrastructure and balance regulatory approvals which are vital for economic feasibility of the project. Black Mountain Iron Ore project – This is a project to recover iron ore (magnetite) from the BMM fresh tailings. EPC’s detailed engineering, procurement, earthworks, and major fabrication are completed. Construction is currently at 76.4% completion. Project being relooked for repurposing under guidance of CEO, Zinc Business. RFQs for all FIMs released Construction Tender released on 23 November 2022. Offers are received and are under Commercial negotiations The techno-commercial proposal for EPC 1 (on EP basis) is received from Shapoorji and",
"page_number": 173,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "both funds is compulsory for all permanent employees under the age of 60. The Group has no additional liability beyond the contributions that it makes. Accordingly, this scheme has been accounted for on a defined contribution basis and contributions are charged directly to the consolidated statement of profit and loss in the year they are incurred. ii) Defined benefit plans (a) Contribution to provident fund trust (the “trusts”) of Iron ore division, Bharat Aluminium Company Limited (BALCO), Hindustan Zinc Limited (HZL), Sesa Resources Limited (SRL) and Sesa Mining Corporation Limited (SMCL) The provident funds of Iron ore division, BALCO, HZL, SRL and SMCL are exempted under section 17 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. Conditions for grant of exemption stipulates that the employer shall make good deficiency, if any, between the return guaranteed by the statute and actual earning of the Fund. Based on actuarial valuation",
"page_number": 570,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Since the underlying Ordinary (Equity) Shares represented by GDRs have been allotted in full, the outstanding GDRs have no impact on the Equity of the Company. There are no other convertible instruments outstanding as on 31st March, 2023. 17. Commodity price risk or Foreign Exchange Risk & hedging activities The Commodity prices in the Financial Year 2022-23 were volatile. In the first quarter steel prices rose sharply due to supply concerns caused by Russia-Ukraine conflict. However, from June 2022 onwards, prices softened on account of easing supply concerns and weak economic outlook due to interest rate increases by major Central Banks. Additionally, there was pressure on Indian steel prices due to levy of export duties on key raw materials and products. Subsequently, from December, 2022, onwards, prices firmed up due to expectations of demand growth driven by withdrawal of zero-Covid policy by Chinese Government and removal of export duties by",
"page_number": 238,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "at 31st March 2023 As at 31st March 2022 Raw materials and components * 671.79 727.78 Work-in-progress** 324.89 326.07 Finished goods*** 1,305.54 1,575.25 Stores and spares 128.74 114.96 Loose tools 55.57 48.68 Dies, jigs and fixtures 185.88 197.09 Scrap 11.26 16.92 Total # 2,683.67 3,006.75 # Total inventory is net of 'provision for obsolete and slow moving inventory' amounting to ` 65.82 million (31 March 2022: ` 54.50 million) * Includes raw materials and components in transit amounting ` 79.44 million (31 March 2022: ` 50.16 million) * Includes raw materials and components with the vendors sent for job work ` 15.13 million (31 March 2022: ` 11.80 million) ** Includes inventory with the vendors sent for job work ` 126.77 million ( 31 March 2022: ` 108.98 million) *** Includes goods in transit ` 428.92 million (31 March 2022: ` 476.94 million) 10 TRADE RECEIVABLES As at 31st March",
"page_number": 170,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "cargo berth for handling coal at the outer harbour of Visakhapatnam Port on the east coast of India. MVPL is engaged in the business of rendering logistics and other allied services inter alia rendering stevedoring, and other allied services in ports and other allied sectors. VGCB commenced operations in the fourth quarter of fiscal 2013. The Group’s other business also include AvanStrate Inc. (“ASI”), Ferro Alloys Corporation Limited (\"FACOR\") and Desai Cement Company Private Limited (\"DCCPL\"). ASI is involved in the manufacturing of glass substrate in South Korea and Taiwan. FACOR is involved in manufacturing of Ferro Alloys, mining of chrome ore and generation of power. It owns a ferro chrome plant with a capacity of approximately 1,40,000 TPA, a 100MW power plant and a mine in Sukinda valley with current capacity of 2,90,000 TPA. DCCPL is involved in business of producing slag cements and owns three ball mills with",
"page_number": 495,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "as the ‘Board’, which term shall be deemed to include the Audit Committee or any other Committee constituted / empowered / to be constituted by the Board from time to time to exercise its powers conferred by this Resolution) to the Material Related Party Transaction(s) / Contract(s) / Arrangement(s) / Agreement(s) entered into / proposed to be entered into (whether by way of an individual transaction or transactions taken together or a series of transactions or otherwise), as mentioned in detail in the Explanatory Statement annexed herewith, of the Company with Tata Steel Limited (‘TSL’), an Associate of Tata Sons Private Limited, the Promoter and accordingly a ‘Related Party’ of the Company, Tata Steel Downtreams Products Limited, a subsidiary of TSL and/or Poshs Metals Industries Private Limited (a third party) through dealers of TSL, on such terms and conditions as may be mutually agreed between the Company and TSL, for",
"page_number": 490,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "context, forward-looking statements address our expected future business and financial performance, and often contain words such as ‘expects’, ‘anticipates’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, or ‘will’. Forward-looking statements by their nature address matters that are, in different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of environmental, climatic, natural, political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward- looking statements. We do not undertake to update our forward-looking statements. These forward-looking statements involve risk and uncertainties, and although we believe that the assumption on which our forward- looking statements are based are reasonable, any of those",
"page_number": 31,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Special Steel Private Limited) pursuant to exercise of a Put Option As mentioned in the previous Annual Report, the Company had agreed to sell 34,75,264 Equity Shares of Rs. 10 each held by the Company in Sanyo Special Steel Manufacturing India Private Limited (Formerly known as Mahindra Sanyo Special Steel Private Limited) (“SSSMIPL”) constituting 22.81% of the Paid-up Capital of SSSMIPL to Sanyo Special Steel Co., Ltd (“Sanyo”) pursuant to exercise of a Put Option available to the Company on Sanyo under the Shareholders’ Agreement. Following the completion of aforesaid sale, SSSMIPL has ceased to be an Associate of the Company. D. INTERNAL FINANCIAL CONTROLS The Corporate Governance Policies guide the conduct of affairs of your Company and clearly delineate the roles, responsibilities and authorities at each level of its governance structure and key functionaries involved in governance. The Code of Conduct for Senior Management and Employees of your Company",
"page_number": 118,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "plant operations for producing premium quality products. Additionally, the nickel plant for producing Ni metal was commissioned later in the year. The first despatch of NiSo4 & Ni metal was executed in March 2023. Going forward, the focus is on developing our customer base in domestic and export markets. Positioned to deliver long-term value Vedanta has grown substantially in the past year. With our employee-centric approach, Vedanta has been recognised with the ‘Kincentric Best Employer of the Year’ award. We continue to upskill young leaders, and empower women and business partners through various flagship programmes. Our fundamentals are stronger, assets are more competitive and expansion projects are all set to enhance the life of assets and volume growth. We have reinforced our market- leading position in the natural resources sector, which has promising upside potential in the long run. Drawing inspiration from these achievements, we are determined more than ever",
"page_number": 61,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "was better than earlier projections, given the lower-than-expected severity of the Russia-Ukraine war and high energy prices. Manufacturing PMI, which fell below the 50-level mark is moving up in most economies. China’s re-opening has further improved the expectation of increased economic activities, generating positivity for the global economy. Inflation levels in most of economies peaked, but expected to fall to 6.6% in CY 2023, improving global financial conditions and business sentiment. World Bank Commodity Index (Base: Dec-2021) (%) 70 115 160 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Energy Agriculture Fertilisers Metals & Minerals Precious Metals IMF projects the global economy to grow by 2.8% in CY 2023 before rebounding to 3% in CY 2024, though the worries of war and high inflation still persist [1]. 6.8 3 2.1 1.1 2.6 1.8 3.4 5.9 5.2 1.6 1.3 0.7 -0.1 2.8 6.3 4.5 1.1",
"page_number": 147,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "and the Mineral Resource contains 12.8 million tonnes of zinc, 5.66 million tonnes of lead and 545.7 million ounces of silver. At current mining rates, the R&R underpins metal production for more than 25 years. Strategic Priorities & Outlook Our primary focus remains on enhancing overall output, cost efficiency of our operations, disciplined capital expenditure and sustainable operations. Whilst the current economic environment remains uncertain, our goals over the medium term are unchanged. Our key strategic priorities include: • Further ramp-up of underground mines towards their design capacity, deliver increased silver output in line with communicated strategy • Sustain cost of production to be in the range of US$1,125-US$1,175 per tonne through efficient ore hauling, higher volume & grades and higher productivity through ongoing efforts in automation and digitisation • Disciplined capital investments in minor metal recovery to enhance profitability • Increase R&R through higher exploration activity and new mining",
"page_number": 169,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "year ended 31 March 2023, the Group has renewed loan provided to Sterlite Iron and Steel Company Limited for a further period of 12 months. The loan balance as at 31 March 2023 is ` 5 Crore (31 March 2022: ` 5 Crore). The loan is unsecured in nature and carries an interest rate of 11.13% per annum. In 2016, a subsidiary of the Company had executed an agreement with Twin Star Holding Limited, the intermediate parent of the Group, to provide an unsecured loan at an interest rate of 2.1% per annum. The loan balance of the loan as at 31 March 2023 is ` 82 Crore (US $10 million) (31 March 2022: ` 74 Crore (US $10 million)). These loans including accrued interest thereon have been fully provided for in the books of accounts. 560 VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 NOTES forming part of",
"page_number": 593,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "developed and prototypes have been demonstrated. High strength 6XXX series alloy with 20% higher strength has been developed by new alloy design including homogenisation cycle, extrusion process and heat treatment cycle optimisation. This will lead to increase the wind load bearing capacity of doors and windows assembly. Lead and Tin free highly machinable 6XXX series alloy has been developed for automotive segments by new alloy designing and process optimisation. Machining properties like higher cutting speed, depth of cut and feed rate can be achieved with lower cutting force and superior surface finish for this alloy. • In the beneficiation of Bauxite, we have developed a process to improve the Alumina to iron oxide ratio which will result into reduced generation 191 DIRECTORS’ REPORT INTEGRATED REPORT STATUTORY REPORTS FINANCIAL STATEMENTS of Red Mud by at least 20%. Beneficiation of Bauxite to reduce reactive Silica by almost 1% has shown promising",
"page_number": 224,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "due to sudden increase in export duty. In November 2022, GoI reversed the additional export duty. Iron ore prices increased in March 2023 driven by a seasonally strong steel sector demand and export opportunities. Market Drivers Indian iron ore production is expected to increase to 260 million tonnes by FY 2025. Iron ore exports from India are expected to increase with the removal of iron ore export duties and Karnataka iron ore export ban. The positive shift was evident in growing exports during last quarter of FY 2023 and is likely to sustain. Global iron ore prices are expected to sustain in near term, driven by recovery in China’s economy and specifically its construction sector post lifting of Covid restrictions. Additionally, a decrease in production from key producers, Australia and Brazil, is expected to further strengthen the prices. Products and customers The Company produces iron ore and pig iron, and",
"page_number": 156,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Q3FY2024, BF #1 completion by Q4FY2024. FACOR: This year, in March 2023, we have successfully commissioned the project of 33 MVA Furnace which will take Fe-Cr production from 90 KTPA to 15 KTPA. Additionally, 0.5 MTPA COB Tomka project for deploying additional Chrome ore Beneficiation plant outside the mining lease located in TOMKA, TOR has been approved, PH will be conducted soon. Project is expected to be completed by October 2023. Nicomet: In FY 2023, we have successfully operationalised Nickle plant and were able to stabilise the plant operations for producing premium quality of our product. Additionally, we have successfully commissioned Nickle metal plant for producing Ni metal in Q4FY2023. First dispatch of NiSo4 and Ni metal executed in March 2023. Going forward, focus is on developing customer base in domestic and export market. DIVIDEND DISTRIBUTION POLICY AND DIVIDEND In terms of the provisions of Regulation 43A of the Listing",
"page_number": 210,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "a consolidated basis • Dividend worth `101.5/share distributed by VEDL FY 2023 Update • Generate healthy free cash flow from our operations • Disciplined capex across projects to generate healthy ROCE • Improve credit ratings • Reduce working capital Objectives for FY 2024 S5 We strive for all-round operational excellence to achieve benchmark performance across our business, by debottlenecking our assets to enhance production, supported by improved digital and technology solutions. Our efforts are focussed on enhancing profitability by optimising our cost and improving realisations through prudent marketing strategies Operational excellence and cost leadership Zinc India • Record ore production of 16.7 million tonnes • Mined metal production of 1,062 kt and refined zinc-lead production of 1,032 kt • APC commissioned at all the beneficiation plants of RA • Smelters achieving designed recovery • Volume enhancement through operations of Pyro plant on Lead- Zinc mode for 7 months • To",
"page_number": 86,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "of its concern or interest (financial or otherwise) Tata Steel Limited is a listed associate company of Tata Sons Private Limited (Promoter of the Company, as well as forms part of the Promoter Group) and consequently, a related party of Company. Tata Steel Downstreams Products Limited is a subsidiary of TSL. Poshs Metals Industries Private Limited along with dealers of TSL are third parties. The Company procures steel from dealers of TSL which in turn procures the steel from Tata Steel Downstreams Products Limited, a subsidiary of TSL at a price negotiated between the Company and TSL. Since materials are supplied by TSL and/or its subsidiaries directly and through its dealers to the Company at a price negotiated with TSL, these transactions are construed as RPTs for the purpose and effect to benefit the Company, as per the SEBI (LODR) Regulations. b. Type, material terms, monetary value and particulars of",
"page_number": 522,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "position of Chief Financial Officer - Iron Ore Business in April 2020. He joined Vedanta Group in March 2005, and prior to joining the Iron Ore Business of Vedanta, Navin Jaju has worked in Vedanta’s Group Companies such as HZL, BALCO and Corporate Office. Navin Jaju is a well-seasoned executive with extensive diversified experience of over 18 years in Metals & Mining sector. He brings demonstrated leadership experience in multiple business verticals ranging from financial planning & analysis, Risk management to M&As and achieving business growth vision with utmost focus on strategic directions, exceptional P & L results, sustainable business, and people best practices. Navin Jaju is a B. Com graduate from St. Xavier’s College and a Chartered Accountant from the Institute of Chartered Accountants of India. Mr. Navin Jaju Chief Executive Officer, Sesa Goa Iron Ore 75 STATUTORY REPORTS FINANCIAL STATEMENTS INTEGRATED REPORT ExECUTIVE COMMITTEE Rajinder Singh Ahuja",
"page_number": 108,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "have taken place) Sterlite Grid 16 Limited Sterlite Iron and Steel Company Limited Sterlite Power Transmission Limited Sterlite Technologies Limited STL Digital Limited Twin Star Technologies Limited C) Associates of ultimate parent (with whom transactions have taken place) Serentica Renewables India 3 Private Limited (f) Serentica Renewables India 6 Private Limited (f) Serentica Renewables India 9 Private Limited (f) D) Associates and Joint ventures (With whom transaction have taken place) Gaurav Overseas Private Limited E) Subsidiaries Amica Guesthouse (Proprietary) Limited Athena Chhattisgarh Power Limited (d) AvanStrate Inc, Japan AvanStrate Korea Inc, Korea AvanStrate Taiwan Inc, Taiwan Bharat Aluminium Company Limited Black Mountain Mining (Proprietary) Limited Bloom Fountain Limited Cairn Energy Gujarat Block 1 Limited (b) Cairn Energy Hydrocarbons Limited Cairn India Holdings Limited Cairn Lanka (Private) Limited CIG Mauritius Private Limited (b) CIG Mauritius Holdings Private Limited (b) Copper Mines of Tasmania (Proprietary) Limited Desai Cement Company Private Limited ESL",
"page_number": 464,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "dated 11 February 2022 for reconsidering the decision and not linking EC with FC since as per the applicable law and available precedents, grant of FC Stage-II is not a condition precedent for grant of EC. CTO will be procured post furnishing the EC. The grant of FC was kept at abeyance for want of Forest Clearance. FC Stage-I is granted to ESL, while the FC compliance are under process. VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 162 Prices (US$ per tonne) Particulars FY 2023 FY 2022 % Change Pig iron 551 545 1% Billet 620 612 1% TMT 700 687 2% Wire rod 707 706 0% DI pipe 769 628 22% Average steel price (US$ per tonne) 689 659 4% Average sales realisation increased 4% YoY from US$659 per tonne in FY 2022 to US$689 per tonne in FY 2023. Prices of iron and steel are influenced",
"page_number": 195,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "0.01% 7.53 ‑0.01% (0.79) ‑2.80% 4.76 0.04% 3.97 The East India Company Group Ltd BVI (Consolidated) 0.00% — 0.00% — 0.00% — 0.00% — Joint Ventures (Investment as per the equity method) Indian Sanyo Special Steel Manufacturing India Private Limited (formerly known as Mahindra Sanyo Special Steel Private Limited) 0.03% 15.87 ‑0.06% (6.34) ‑0.86% 1.47 ‑0.05% (4.87) Mahindra Aerospace Pvt Limited (Consolidated) (upto 28th March, 2023) 0.00% — ‑0.14% (14.14) 0.26% (0.44) ‑0.14% (14.58) Mahindra Susten Private Limited (w.e.f 23rd December, 2022) 2.27% 1,278.89 0.18% 18.61 ‑2.06% 3.50 0.22% 22.11 Mahindra Telephonics Integrated Systems Limited (upto 16th June, 2022) 0.00% — 0.00% — 0.00% — 0.00% — 47. Statement of net assets and profit and loss and other comprehensive income attributable to owners and non-controlling interest (contd.) Rupees crores 403 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS",
"page_number": 458,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "energy, (ii) Switching to low-carbon or zero-carbon fuels, (iii) Improve the energy efficiency of our operations, and (iv) Offsetting residual emissions. In FY 2023, we have made progress in levers (i) – (iii). We only plan to purchase carbon offsets if we are unable to reduce our GHG emissions to target levels in 2030 and subsequently in 2050. Our GHG reduction roadmap consists of 4 stages: In stage 1 (FY 2021-FY 2025), we plan to reduce to GHG intensity (tCO2e/tonne) of our metals businesses by 20% by FY 2025 (from a FY 2021) baseline. In stage 2 (FY 2021-FY 2030), we will deploy the renewable energy capacity to ensure that we will have 2.5 GW of Round-the-Clock renewable power by 2030. In stage 3 (FY 2026-FY 2030), we anticipate a reduction in our absolute GHG emissions in line with our target to reduce our absolute GHG emissions by 25% by",
"page_number": 125,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "respects.” 11. To approve the entering into of a Material Related Party Transaction with Ferro Alloys Corporation Limited (“FACOR”), a subsidiary of the Company, and in this regard, pass the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Regulation 23(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended till date, (“Listing Regulations”), the applicable provisions of the Companies Act, 2013 (the “Act”) read with Rules made thereunder, as amended and issued from time to time, other applicable laws/statutory provisions, if any, including any statutory modification(s) or amendment(s) or re-enactment(s) thereof for the time being in force, the Company’s Policy on Related Party Transactions (“RPT”) and subject to such approval(s), consent(s), permission(s) as may be necessary from time to time, on the approval and recommendation of the Audit & Risk Management Committee and the Board of Directors",
"page_number": 6,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "to generate prospects and add resources. Employees at Cairn, Oil and Gas In FY 2023, we delivered significant progress across all our businesses with record volumes in Aluminium, Zinc India and Zinc International businesses. Key cost reduction, capex and operational improvement projects enabled us to stay on course with our growth plans. VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 28 Iron Ore The business seized opportunities with robust execution and agility to overcome market sluggishness on account of duty imposition and export ban. Post the withdrawal of export duty in December 2023, we became the first to complete an export shipment of Karnataka-origin ore. We also commenced ore production in our Liberia mine and completed its first-ever export shipment. The production of saleable iron ore at Karnataka was flat at 5.3 million tonnes and that of value-added pig iron was down by 12% to 696 kt. Steel ESL",
"page_number": 61,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "thereby catering to the growing demand for low-carbon metals. Vedanta has conducted an in-depth climate risk assessment and scenario analysis to comprehensively understand the risks and opportunities posed by climate change to our business. The findings of these studies are being used as inputs for the Company’s carbon strategy and roadmap to achieve Net Zero status by 2050. Vedanta’s strategies for mitigating these risks include: • Committed to being a Net Zero carbon business by 2050. Our climate targets are aligned with SBTi’s 2-degree scenario • Revised GHG emissions intensity targets in FY 2022, with a new goal to reduce the GHG emissions intensity of our metal businesses by 20% by FY 2025 from a FY 2021 baseline • Committed to work with long-term tier 1 suppliers to track their GHG reduction strategies • Actively working on decarbonisation projects to offset emissions from growth projects Vedanta has started inventorising Scope",
"page_number": 328,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Law Tribunal, Cuttack Bench vide its Order dated 15 November 2022 approved the Scheme of Amalgamation of Facor Power Limited (“FPL”) into Ferro Alloys Corporation Limited (“FACOR”). FPL is a subsidiary of FACOR which in turn is a subsidiary of the Company. Post the amalgamation becoming effective on 21 November 2022, the Company directly holds 99.99% in FACOR. 368 VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 NOTES forming part of the financial statements as at and for the year ended 31 March 2023 4 Segment Information A) Description of segment and principal activities The Company is a diversified natural resource company engaged in exploring, extracting and processing minerals and oil and gas. The Company produces oil and gas, aluminium, copper, iron ore and power. The Company has five reportable segments: oil and gas, aluminium, copper, iron ore and power. The management of the Company is organized by its",
"page_number": 401,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "0.00% - 11 Goa Sea Port Private Limited(1) 0.00% - 0.00% - 0.00% - 0.00% - 12 Vedanta Limited ESOS Trust 0.13% 51 0.04% 4 0.00% - 0.03% 4 13 ESL Steel Limited 14.12% 5,567 (5.28%) (558) (0.30%) (3) (4.85%) (561) 14 Ferro Alloy Corporation Limited (FACOR)(2) 1.43% 565 2.47% 261 (0.10%) (1) 2.25% 260 15 Facor Realty and Infrastructure Limited (a) 0.00% - 0.00% - 0.00% - 0.00% - 16 FACOR Power Ltd (2) 0.00% - 0.00% - 0.00% - 0.00% - 17 Desai Cement Company Private Limited (0.03%) (10) (0.04%) (4) (0.10%) (1) (0.04%) (5) 18 Hindustan Zinc Alloys Private Limited 0.00% 0 (0.01%) (1) 0.00% - (0.01%) (1) 19 Vedanta Zinc Football & Sports Foundation 0.00% 0 (0.01%) (1) 0.00% - (0.01%) (1) 20 Hindustan Zinc Fertilizers Private Limited (c) 0.00% 0 0.00% 0 0.00% - 0.00% 0 21 Zinc India Foundation (c) (0.01%) (3) (0.03%) (3)",
"page_number": 598,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Institute of Engineering & Technology, Patiala. He is an Alumnus of IMD, Lausanne Switzerland and IIM Calcutta and worked at Ambuja Cement before joining Vedanta Limited. He is serving as Vice Chairman- International Zinc Association and President - Indian Lead Zinc Development Association. Recently, he was appointed as the Chair - Confederation of Indian Industry (CII) National Committee on Mining, Chair - FIMI Non-Ferrous Metals Committee, Co-Chair - FICCI Non-Ferrous Metals Committee-2018 and Chairman - Skill Council for Mining Sector, India. Mr. Sunil Duggal Whole-Time Director & Chief Executive Officer Mr. Dindayal Jalan is a Chartered Accountant and has over 40 years of extensive experience in managing business and finance in large metal and mining companies. He is currently an entrepreneur and an Independent Director on the Boards of some prominent companies. In his previous role, before superannuation in 2016, he was the Group CFO of London-listed Vedanta Resources Plc.,",
"page_number": 102,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "31 March 2022 Year Ended 31 March 2022 Year Ended 31 March 2022 Year Ended 31 March 2023 Year Ended 31 March 2022 Year Ended 31 March 2023 Year Ended 31 March 2022 Year Ended 31 March 2023 Year Ended 31 March 2022 Business Unit Oil & Gas Copper Sesa Goa Power Aluminium Met Coke Division Pig Iron Division Power Plant (WhR) Mining Goa Met Coke Gujarat Met Coke Vazare Mining Orissa Mining karnataka Met Coke Division Pig Iron Division Power Plant (WhR) Mining Goa Mining karnataka Lanjigarh Jharsuguda B. Consumption per MT of Production Continuous Copper Rod/ Iron - Ore Electricity MWH/MT 0.63 0.66 0.02 0.260 0.1 NA NA NA NA 0.0 0.0 0.3 0.1 NA 0.0 Furnace Oil KL/MT 0.03 0.02 Nil Nil Nil Nil Nil Nil NA NA Nil Nil Nil Nil NA Diesel KL/MT 0.0002 0.0002 0.0 0.0 0.0 0.0 0.0 0.0 NA 0.0 0.0 0.0",
"page_number": 244,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "essential part of our innovation process. Significant commercial implementations of this year include process for increasing Ag metal recovery during production of lead concentrates. Successful plant implementation has been achieved for enhanced minor metal recovery from smelter residues. In the coming year, we are aiming to develop process control strategies based on the new process parameter measurements and data analysis. Specific R&D focussed projects include: • Implemented the process to improve silver recovery at Zawar by utilising silver promoter reagent • Deployed non-hazardous flotation/depression reagent for graphite across sites • Alternative low-capex process for jarosite preparation for its use in cement industry, customer test ongoing • Sodium-based salt production from Effluent stream and its use in hydro process • Increase the current efficiency of Zn electrowinning process and improve quality of HG grade Zinc in the manually operated zinc cell house • Geo-metallurgical studies have provided advance insight of",
"page_number": 224,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Key Strategic Priority Disciplined Capital Allocation Framework 271 REPORT ON CORPORATE GOVERNANCE INTEGRATED REPORT STATUTORY REPORTS FINANCIAL STATEMENTS Stock Price Data for FY 2023 BSE: HIGH-LOW PRICE (in `) Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 High Price Low Price 440.75 412.00 327.15 261.50 274.95 320.90 305.50 324.65 322.15 340.75 338.25 294.70 397.10 279.80 216.10 206.10 245.85 255.30 265.65 281.00 281.60 306.30 262.00 265.00 NSE: HIGH-LOW PRICE (in `) Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 High Price Low Price 440.75 412.00 325.20 261.45 275.00 320.90 305.50 324.60 322.20 340.75 338.25 294.60 397.05 279.55 216.10 206.00 245.75 255.20 265.60 281.00 281.80 306.20 261.95 266.15 VEDL Share Price v/s BSE Sensex v/s BSE Metal Index 0 20 40 60 80 100 120 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Mar-23 Feb-23 VEDL Share Price BSE Sensex BSE",
"page_number": 304,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "and an Executive Director and CFO of Vedanta Limited. Mr. Jalan started his corporate journey in 1978 with Aditya Birla Group’s Hindustan Gas & Industries Limited as a management trainee and subsequently rose to the rank of Finance & Commercial Head. He was instrumental in transforming the iron ore business and setting up a greenfield SME business for Essel Mining, an associate company. In 1996, he moved to Birla Copper to lead the Finance & Commercial function. He was part of the core team and was instrumental in setting up and operationalising the greenfield copper smelting project as a robust operating business. He was responsible for raising finance, building the finance team, putting in place strong business processes and systems, negotiating stable sources for long-term raw material supplies, setting up the commodity hedging desk and building a robust marketing organisation. In 2001, he moved to Sterlite Industries (now Vedanta Limited)",
"page_number": 102,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "% of such exposure hedged through commodity derivatives Domestic Market International Market Total OTC Exchange OTC Exchange Raw Material (majorly Steel) `14,758 crore Note 1 - - - - - Aluminum, Copper & Lead `1,696 crore 0.05 million metric tons - - 33% - 33% Notes: 1. Mixture of commodities having different Unit of measurements 2. Above values are estimates 3. Exposure given above is relating to direct materials only c. Commodity risks faced by the Company during the year and measures adopted to combat the same: During the year under review, major demand supply imbalance was seen in first half of the year till September, 2022 leading to spike in commodity prices, impacting the industry as a whole. The Company is running comprehensive campaigns to offset the impact of such cost pressures. Policy on Determing Material Subsidiaries The Company adopted a Policy for Determining Material Subsidiaries of the Company,",
"page_number": 229,
"pdf_name": "AR_22007_TATAMOTORS_2022_2023_12062023215502.pdf"
},
{
"document": "segments of the Company for which separate financial information is available. The Company’s financing (including finance costs and finance income) and income taxes are reviewed on an overall basis and are not allocated to operating segments. Pricing between operating segments are on an arm’s length basis in a manner similar to transactions with third parties. The following table presents revenue and profit information and certain assets and liabilities information regarding the Company’s business segments as at and for the year ended 31 March 2023 and 31 March 2022 respectively. For the year ended 31 March 2023 (` in Crore) Particulars Business Segments Oil and Gas Aluminium Copper Iron Ore Power Eliminations Total Revenue External revenue 8,137 39,950 12,351 5,928 827 - 67,193 Inter segment revenue - - - - - - - Segment revenue 8,137 39,950 12,351 5,928 827 - 67,193 Results Segment Results (EBIDTA) a 4,221 5,160 (9) 930",
"page_number": 401,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "our ESG strategy, including net carbon zero, water positivity and a greener business model, which are contributing to scalable results and making our business more sustainable in the long term. Continuing this journey, in FY 2023, we have proposed a more holistic theme, ‘Transforming Together’, to initiate collective action for shared value creation. Vedanta response VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 44 Global economies are gradually transitioning from linear to circular models, and metals and mining companies have a unique opportunity to lead this change. By building new capabilities and reconfiguring business models to incorporate circular initiatives like metals reprocessing, recycling or urban mining, early adopters stand to gain preferential access to responsible sourcing markets and investors. This strategic shift can also empower market players to influence downstream, lower costs and improve ESG scores. Mapping benefits of circular economy Progressing to greener business models with circular economy",
"page_number": 77,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "is required for vendor qualification as a value chain partner thereby greatly reducing the possibility of high sustainability risk. We also check that our suppliers comply with our Green Procurement Principle, which covers areas including human rights, labour practices and business integrity. 29% Share of recycled steel and casting copper/aluminium to total material Responsible procurement Environment Y-o-Y Material sourcing and resource conservation Reducing waste can be achieved by selecting appropriate materials and manufacturing processes. Changing the material used has a greater impact on reducing environmental harm compared to altering the manufacturing process. Our focus is on choosing the best material, optimising its usage, and transforming it into the final product. Additionally, we practice a circular economy by optimising resource utilisation and using recycled raw materials in the production of components. We are actively taking measures to minimise waste, such as promoting the use of returnable packaging and recycling metal scrap",
"page_number": 26,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "year ended 31 March 2023 (` in Crore) Particulars Business Segments Zinc India Zinc International Oil & Gas Aluminium Copper Iron Ore Power Others Eliminations Total Revenue External revenue 33,120 5,209 15,038 52,360 17,491 6,046 6,982 9,158 - 1,45,404 Inter segment revenue - - - 43 - 457 218 88 (806) - Segment revenue 33,120 5,209 15,038 52,403 17,491 6,503 7,201 9,245 (806) 1,45,404 Results Segment results (EBITDA) a 17,474 1,934 7,782 5,837 (4) 988 851 379 - 35,241 Less: Depreciation, depletion and amortisation 3,290 487 2,577 2,490 194 146 689 682 - 10,555 Add: Other income, net of expenses b, c 161 - (327) 87 2 8 16 1 - (52) Add: Other unallocable income, net of expenses 2,084 Less: Finance costs 6,225 Less: Net exceptional loss 217 Net profit before tax 20,276 Other information Segment assets 22,848 6,846 24,485 64,238 5,104 5,375 16,495 10,977 1,56,368 Financial assets investments",
"page_number": 521,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "i.e. three (03) financial years with Bharat Aluminium Company Limited (“BALCO”), ESL Steel Limited (“ESL”) (formerly known as Electrosteel Steel Limited), Ferro Alloys Corporation Limited (“FACOR”), subsidiaries of the Company, and Sterlite Power Transmission Limited (“SPTL”), a fellow subsidiary of the Company, may exceed the Materiality Threshold and hence, the Company is approaching the Members for approval of the material RPTs with BALCO, ESL, FACOR and SPTL respectively for aforementioned three (03) financial years. The value of RPTs with BALCO, ESL, FACOR and SPTL for the period commencing from 01 April 2023 till the date of this Notice has not exceeded the materiality threshold and the Company will ensure that the same does not exceed the said threshold up to the date of the AGM. Transaction Details a) BALCO, a subsidiary of the Company, is one of the leading aluminium producers in the world and has 5.70 lakh MTPA aluminium",
"page_number": 21,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "the amalgamation becoming effective on 21 November 2022, the Company directly holds 99.99% in FACOR. There is no material impact on the consolidated financial statements of the Group due to this amalgamation. 5 Segment Information A) Description of segment and principal activities The Group is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil and gas. The Group produces zinc, lead, silver, copper, aluminium, iron ore, oil and gas, ferro alloys, steel, cement and commercial power and has a presence across India, South Africa, Namibia, U.A.E, Ireland, Australia, Japan, South Korea, Taiwan and Liberia. The Group is also in the business of port operations and manufacturing of glass substrate. The Group has seven reportable segments: copper, aluminium, iron ore, power, Zinc India (comprises zinc and lead India), Zinc international, oil and gas and others. The management of the Group is organized by its main products:",
"page_number": 520,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "world- class portfolio of large and diversified assets in oil and gas, zinc, silver, aluminium, copper, nickel, iron and steel and power that are capable of generating strong cash flows. Mr. Agarwal’s vision is to empower the nation by achieving self-sufficiency in natural resources. Over the years, he has invested over US$35 billion in the development of the natural resources sector in India and has been a strong advocate for the growth of the MSME sector and start-ups in India. Mr. Agarwal believes businesses must give back to society and help them prosper and hence, has pledged 75% of his wealth for social good. He has signed The Giving Pledge, a movement of global philanthropists who have committed to giving away a majority of their wealth towards philanthropic and charitable causes. With a view to promoting the well- being of communities with a special focus on women and child development,",
"page_number": 100,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "in it has agreed to acquire at least 54% shares capital and voting rights in , subject to execution of definitive agreements and completion of certain identified conditions precedent. The exceptional item is related to diligence work of investee company. 51 OTHER STATUTORY INFORMATION (i) The Group do not have any Benami property, where any proceeding has been initiated or pending against the Group for holding any Benami property. (ii) The Group do not have any transactions with companies struck off other than below. Relationship with struck off companies: Name of struck off company (31 March 2023) Nature of transactions Transactions during the year Balance outstanding Relationship Metalworking Lubricants India Private Limited Purchase 0.04 0.04 Supplier of Goods Competent Engineers Private Limited Purchase 0.76 - Supplier of Goods There were no transactions with struck off companies during the last financial year. (iii) The Group do not have any charges or",
"page_number": 279,
"pdf_name": "AR_22066_SONACOMS_2022_2023_24062023190637.pdf"
},
{
"document": "year end, Sanyo Special Steel Manufacturing India Private Limited (formerly known as Mahindra Sanyo Special Steel Private Limited) ceased to be an Associate of your Company. Mahindra CIE Automotive Limited, an Associate of the Company, has on 16th May, 2023 informed the Stock Exchanges that its application for change of name from Mahindra CIE Automotive Limited to CIE Automotive India Limited has been approved by the Central Government on 15th May, 2023. As on the date of this Report, the Master Data on the website of the Ministry of Corporate Affairs www.mca.gov.in carries the new name of the company and that the ‘fresh certificate of Incorporation pursuant to change in name’ as per Section 13(3) of the Companies Act, 2013 read with Rule 29 of the Companies (Incorporation) Rules, 2014 was awaited. A Report on the performance and financial position of each of the subsidiaries, associates and joint venture companies",
"page_number": 115,
"pdf_name": "AR_22135_M&M_2022_2023_03072023013854.pdf"
},
{
"document": "of the oldest and reputed producers of High Carbon Ferro Chrome or Charge Chrome in India, known for its consistent supply, best-in-class quality, and service in the domestic as well as Global Market for four decades. Its Charge Chrome Plant (CCP) was established in 1983 and is one of India’s significant producers and exporters of Ferro Alloys, an essential ingredient for the production of Steel and Stainless Steel. FACOR has the capacity to produce 81.3 KTPA of Charge Chrome/Ferro Chrome along with a 100 MW Power Plant in Bhadrak, Odisha. It has also established a mining complex in Jajpur and Dhenkanal districts in Odisha for the mining of Chrome Ore, having an annual capacity of 250 KTPA. d) SPTL is a public company, primarily engaged in the business of developing integrated power transmission infrastructure and providing solution services with over 25% market share, making it one of the largest private",
"page_number": 21,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "together with Para A of Schedule V of the SEBI (Listing Obligations and Disclosure Requirements), 2015 and Section 186(4) of the Companies Act, 2013): (` in Crore) Name of the Company Relationship Balance as at 31 March 2023 Maximum Amount Outstanding during the year Balance as at 31 March 2022 Sesa Resources Limited (\"SRL\") Wholly owned Subsidiary - 85 74 Sterlite Ports Limited (\"SPL\") 2 Wholly owned Subsidiary - 4 4 Sesa Mining Corporation Limited (SMCL\") 2 Wholly owned Subsidiary 8 27 20 ESL Steel Limited (\"ESL\") Subsidiary 132 258 158 Talwandi Sabo Power Limited (\"TSPL\") Wholly owned Subsidiary - 75 75 Ferro Alloys Corporation Limited Subsidiary (Refer Note 3(d)) 22 22 22 Malco Energy Limited Wholly owned Subsidiary 449 455 147 Vizag General Cargo Berth Private Limited (\"VGCB\") Wholly owned Subsidiary 19 19 19 Paradip Multi Cargo Berth Private Limited (\"PMCB\")2 Wholly owned Subsidiary - 0 0 1 None",
"page_number": 471,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "of shares held by listed entity Does the entity indicated at column A, participate in the Business Responsibility initiatives of the listed entity? (Yes/No) 31 Skorpion Mining Company Proprietary Limited (NZ) Subsidiary 100 No 32 Skorpion Zinc Proprietary Limited (SZPL) Subsidiary 100 No 33 THL Zinc Namibia Holdings (Proprietary) Limited (VNHL) Subsidiary 100 No 34 Killoran Lisheen Mining Limited Subsidiary 100 No 35 Lisheen Milling Limited Subsidiary 100 No 36 Lisheen Mine Partnership Subsidiary 100 No 37 Vedanta Lisheen Mining Limited Subsidiary 100 No 38 Cairn Energy Hydrocarbons Limited Subsidiary 100 No 39 Black Mountain Mining (Proprietary) Limited Subsidiary 74 No 40 Cairn Lanka Private Limited Subsidiary 100 No 41 AvanStrate Korea Inc Subsidiary 51.6 No 42 Lakomasko BV Subsidiary 100 No 43 Monte Cello BV (MCBV) Subsidiary 100 No 44 THL Zinc Holding BV Subsidiary 100 No 45 Vedanta Lisheen Holdings Limited Subsidiary 100 No 46 Fujairah Gold FZC",
"page_number": 326,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "(0.26%) (50) 17 Desai Cement Company Private Limited(b) 0.02% 13 (0.02%) (3) 0.00% - 0.00% - 18 Hindustan Zinc Alloys Private Limited(c) 0.00% - 0.00% - 0.00% - 0.00% - 19 Vedanta Zinc Football & Sports Foundation(c) 0.00% - 0.00% - 0.00% - 0.00% - Foreign Subsidiaries 1 Copper Mines of Tasmania Pty Limited (0.93%) (605) (0.34%) (64) 0.00% - (0.33%) (64) 2 Thalanga Copper Mines Pty Limited 0.11% 75 0.54% 102 0.00% - 0.52% 102 3 Monte Cello BV 0.30% 197 0.02% 3 0.00% - 0.02% 3 4 Bloom Fountain Limited (12.64%) (8,265) (1.27%) (239) 0.00% - (1.22%) (239) 5 Western Cluster Limited (1.45%) (951) (0.17%) (32) 0.00% - (0.16%) (32) 6 Sterlite (USA) Inc. (d) 0.00% - 0.00% - 0.00% - 0.00% - 7 Fujairah Gold FZC (0.92%) (604) (1.23%) (232) (0.36%) (3) (1.20%) (235) 8 THL Zinc Ventures Limited (5.73%) (3,745) (0.01%) (2) 0.00% - (0.01%) (2)",
"page_number": 601,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "use of resources and margin realisations. The RPTs with BALCO, ESL, FACOR and SPTL will help the Company achieve synergies and economies of scale and will be in the best interest of the Members. Further, the above RPTs would help bring efficiency in operational and logistics costs, strengthen sustainability and leverage knowledge pool across functions. 19 Notice The joining links for the AGM and other details can also be accessed at: www.vedantalimited.com/vedanta2023/ The relevant information pertaining to material RPTs with BALCO, ESL, FACOR, and SPTL as required under SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2021/662 dated 22 November 2021 and in terms of guidelines on RPT disclosures issued by the Proxy Advisory firms, is given below: Sr. No. Particulars Details/Information pertaining to Transaction Name of the Related Party Bharat Aluminium Company Limited (“BALCO”) ESL Steel Limited (“ESL”) Ferro Alloys Corporation Limited (“FACOR”) Sterlite Power Transmission Limited (“SPTL”) 1. Nature of relationship BALCO",
"page_number": 22,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Estimated % breakup is in line with past practice and may be subject to minor deviations within the overall monetary value. VEDANTA LIMITED 20 The joining links for the AGM and other details can also be accessed at: www.vedantalimited.com/vedanta2023/ Sr. No. Particulars Details/Information pertaining to Transaction Name of the Related Party Bharat Aluminium Company Limited (“BALCO”) ESL Steel Limited (“ESL”) Ferro Alloys Corporation Limited (“FACOR”) Sterlite Power Transmission Limited (“SPTL”) 2. Nature, material terms, monetary value, tenure and particulars of contracts or arrangement Tenure: Transactions entered into/to be entered during FY 2024 and in each financial year(s) until FY 2026. These are continuing business transactions. Approval of the Members is being sought for transaction/series of transactions under the BALCO Agreement during three (03) financial years i.e., from FY 2024 to FY 2026. These are continuing business transactions. Approval of the Members is being sought for transaction/series of transactions under",
"page_number": 23,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "nature of indebtedness; • cost of funds; and • tenure; Not Applicable Not Applicable Not Applicable Not Applicable 21 Notice The joining links for the AGM and other details can also be accessed at: www.vedantalimited.com/vedanta2023/ Sr. No. Particulars Details/Information pertaining to Transaction Name of the Related Party Bharat Aluminium Company Limited (“BALCO”) ESL Steel Limited (“ESL”) Ferro Alloys Corporation Limited (“FACOR”) Sterlite Power Transmission Limited (“SPTL”) (iii) Applicable terms, including covenants, tenure, interest rate and repayment schedule, whether secured or unsecured; if secured, the nature of security; and Not Applicable Loan tenure – up to 3 years Interest rate – at arm’s-length interest rate, as benchmarked by an independent expert Nature - Unsecured Loan tenure – up to 3 years Interest rate – at arm’s-length interest rate, as benchmarked by an independent expert Nature - Unsecured Not Applicable (iv) The purpose for which the funds will be utilized by",
"page_number": 24,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "62,801 Results Segment Results (EBIDTA) a 3,137 13,024 (150) 2,187 (172) - 18,026 Less: Depreciation, depletion and amortisation expense 936 1,591 188 101 129 - 2,945 Add: Other income b - 58 2 7 11 - 78 Add: Other unallocable income, net of expenses 7,921 Less: Finance costs 3,146 Less: Net exceptional loss 318 Net profit before tax 19,616 Other information Segment Assets 16,420 47,307 5,383 3,590 2,826 75,526 Financial asset investments 61,466 Deferred tax asset 1,118 Income tax assets (net of provisions) 1,800 Cash and cash equivalents (including other bank balances and bank deposits) 7,209 Others 1,622 Total Assets 1,48,741 370 VEDANTA LIMITED Integrated Report and Annual Accounts 2022-23 NOTES forming part of the financial statements as at and for the year ended 31 March 2023 (` in Crore) Particulars Business Segments Oil and Gas Aluminium Copper Iron Ore Power Eliminations Total Segment Liabilities 10,178 15,630 4,638 2,321",
"page_number": 403,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "Ltd 100.00 100.00 37 THL Zinc Namibia Holdings (Proprietary) Limited (“VNHL”) Mining and Exploration and Investment company Namibia THL Zinc Ltd 100.00 100.00 38 Killoran Lisheen Mining Limited Development of a zinc/lead mine Republic of Ireland Vedanta Lisheen Holdings Limited 100.00 100.00 39 Lisheen Milling Limited Manufacturing (f) Republic of Ireland Vedanta Lisheen Holdings Limited 100.00 100.00 40 Lisheen Mine Partnership Development and operation of a zinc/lead mine Republic of Ireland 50% each held by Killoran Lisheen Mining Limited and Vedanta Lisheen Mining Limited 100.00 100.00 41 Vedanta Lisheen Mining Limited Zinc and lead mining Republic of Ireland Vedanta Lisheen Holdings Limited 100.00 100.00 42 Cairn Energy Gujarat Block 1 Limited (g) Oil and gas exploration, development and production Scotland Cairn India Holdings Limited - 100.00 43 Cairn Energy Hydrocarbons Limited Oil and gas exploration, development and production Scotland (h) Cairn India Holdings Limited 100.00 100.00 44 Black Mountain Mining",
"page_number": 595,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "interest of all stakeholders including public shareholders. The complete details can be accessed at www.vedantalimited.com. Scheme of Amalgamation of Facor Power Limited into Ferro Alloys Corporation Limited and their respective Shareholders and Creditors under Section 230 to 232 of the Companies Act, 2013 The National Company Law Tribunal vide order dated 15 November 2022 has sanctioned the Scheme of Amalgamation of Facor Power Limited (“Transferor Company”), subsidiary of Ferro Alloys Corporation Limited into Ferro Alloys Corporation Limited (“Transferee Company”), a subsidiary of Vedanta Limited and their respective shareholders and creditors under Section 230 to 232 of the Act. The Transferor Company was dissolved without winding-up and merger effected from 22 November 2022 upon filing of certified copy of NCLT Order dated 15 November 2022 in INC-28. Strategy to enhance long-term value Strategic Priorities Focus Area • Achieve net zero carbon mission by 2050 and water positivity by 2030 Committed to",
"page_number": 208,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "(0.9 MTPA), 2 coke oven batteries (0.5 MTPA) and 2 power plants (65 MW) and one merchant coke plant of capacity 0.1 MTPA Application Areas • Essential for steel making • Used in construction, infrastructure and automotive sectors Asset Highlights • Design capacity of 3 MTPA • Largely long steel products • Highest-ever hot metal production of 1,368 kt • Highest ever DIP production of 196 kt Application Areas • Construction, infrastructure, transport, energy, packaging, appliances and industry • Product portfolio includes pig iron, billets, TMT bars, wire rods and ductile iron pipes Note: 1. Hot metal design capacity Business Electrosteel India `988 crore EBITDA `316 crore EBITDA Production Volume 1,285 kt Steel Production Volume 5.3 million tonnes Iron ore 696 kt Pig iron IRON ORE STEEL One of the largest merchant iron ore miners in India and one of the largest producers and exporters of merchant pig iron in",
"page_number": 46,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "of adherence to Company’s policies. The internal control measures are effectively supplemented by regular internal audits. The Company uses derivative instruments to manage the exposure in foreign currency exchange rates, interest rates and commodity prices. The Company does not acquire or issue derivative financial instruments for trading or speculative purposes. The Company does not enter into complex derivative transactions to manage the treasury and commodity risks. Both treasury and commodities derivative transactions are normally in the form of forward contracts, interest rate and currency swaps and these are in line with the Company's policies. Commodity price risk The Company is exposed to the movement of base metal commodity prices on the London Metal Exchange. Any decline in the prices of the base metals that the Company produces and sells will have an immediate and direct impact on the profitability of the businesses. As a general policy, the Company aims to",
"page_number": 433,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
},
{
"document": "As % of consolidated TCI Amount (` in Crore) Parent Vedanta Limited 172.01% 67,812 258.71% 27,356 42.45% 419 240.25% 27,775 Indian Subsidiaries 1 Hindustan Zinc Limited 32.83% 12,942 99.48% 10,519 4.18% 41 91.34% 10,560 2 Bharat Aluminium Company Limited 19.65% 7,748 0.40% 42 3.32% 33 0.65% 75 3 MALCO Energy Limited 0.05% 20 (2.53%) (267) (0.43%) (4) (2.35%) (271) 4 Talwandi Sabo Power Limited 7.66% 3,020 (0.66%) (70) 0.00% - (0.61%) (70) 5 Sesa Resources Limited 1.09% 428 3.56% 376 0.00% - 3.25% 376 6 Sesa Mining Corporation Limited(1) 0.04% 16 0.96% 101 0.16% 2 0.89% 103 7 Sterlite Ports Limited(1) 0.00% - 0.00% - 0.00% - 0.00% - 8 Vizag General Cargo Berth Private Limited 0.05% 20 0.29% 31 0.00% 0 0.27% 31 9 Paradip Multi Cargo Berth Private Limited(1) 0.00% - 0.00% - 0.00% - 0.00% - 10 Maritime Ventures Private Limited(1) 0.00% - 0.00% - 0.00% -",
"page_number": 598,
"pdf_name": "AR_22033_VEDL_2022_2023_19062023161652.pdf"
}
],
"keywords": {
"keywords": [
"steel",
"Iron Alloy",
"Metal Production",
"Steel Manufacturing",
"Steel Works",
"Steel Industry",
"Steel Products",
"Stainless Steel",
"High Carbon Steel",
"Low Carbon Steel",
"Alloy Steel",
"Structural Steel",
"Steel Market",
"Steel Recycling",
"Steel Mills",
"Galvanized Steel"
]
}
}