205 / 220
203
Note 29.10 Offsetting financial assets and liabilities
The below Note presents the recognised financial instruments that are offset or subject to enforceable master netting
arrangements and other similar Agreements, but not offset as at March 31, 2018 and March 31, 2017.
a) Collateral against borrowings
The Group has hypothecated | mortgaged financial instruments as collateral against its borrowings. Refer Note 17 for
further information on financial and non-financial collateral hypothecated | mortgaged as security against borrowings.
b) Master netting arrangements – not currently enforceable
Agreements with derivative counterparties are based on an ISDA Master Agreement. Under the terms of these
arrangements, only where certain credit events occur (such as default), the net position owing | receivable to a single
counterparty in the same currency will be taken as owing and all the relevant arrangements terminated. As the Group
does not presently have a legally enforceable right of set-off, these amounts have not been offset in the Balance Sheet.
Note 29.11 Earnings per share
Earning per share (EPS) - The numerators and denominators used to calculate basic and diluted EPS:
Particulars
2017-18
2016-17
Profit for the year attributable to the Equity Shareholders
`
cr
281.24
323.35
Basic | Weighted average number of equity shares outstanding during
the year
Number
2,96,61,733 2,96,61,733
Nominal value of equity share
`
10
10
Basic and diluted EPS
`
94.82
109.01
Note 29.12 Leases
a) Operating lease
The Group has taken various residential and office premises under operating lease or leave and license Agreements. These
are generally cancellable having a term between 11 months and 3 years and have no specific obligation for renewal.
Payments are recognised in the Statement of Profit and Loss under 'Rent' in Note 28.
b) Finance lease
The Group has taken on lease a parcel of land from Gujarat Industrial Development Corporation for a period of 99 years
with an option to extend the lease by another 99 years on expiry of lease at a rental that is 100% higher than the current
rental. However, the Group has no specific obligation for renewal. The Group has considered that such a lease of land
transfers substantially all of the risks and rewards incidental to ownership of land, and it has thus accounted for the same
as Finance lease.
Note 29.13 Rounding off
Figures less than
`
50,000 have been shown at actual in brackets.
Note 29.14 Interests in other entities
a) Subsidiary companies
The subsidiary companies of the Group at March 31, 2018 are set out below. Unless otherwise stated, they have Share
capital consisting solely of equity shares that are held directly by the Group, and the proportion of ownership interests
held equals the voting rights held by the Group. The country of incorporation or registration is also their principal place
of business.
Notes
to the Consolidated Financial Statements