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Board Report

FY 2020-21  
STATE OF COMPANY AFFAIRS:  
Board Report  
The total income for the financial year under review was  
76,751 crore as against 85,192 crore for the previous  
financial year, registering a decrease of 9.91%, primarily  
due to the disruption caused by the COVID 19 pandemic.  
The profit before tax from continuing operations,  
including exceptional items, was lower at 4,438 crore for  
the financial year under review as against 6,986 crore  
for the previous financial year. The profit after tax from  
continuing operations, excluding exceptional items, was  
2,686 crore for the financial year under review as against  
6,025 crore for the previous financial year, registering a  
decrease of 55%.  
Dear Members,  
The Directors have pleasure in presenting their 76th  
Annual Report and Audited Financial Statements for the  
year ended 31st March 2021.  
FINANCIAL RESULTS:  
Particulars  
2020-21  
2019-20  
crore  
crore  
Profit before depreciation,  
exceptional items and tax  
Less: Depreciation, amortization,  
impairment and obsolescence  
8282.04  
1025.62  
7379.43  
1020.51  
AMOUNT TO BE CARRIED TO RESERVES:  
Profit before exceptional items and  
tax  
Add: Exceptional items  
The Company has not transferred any amount to the  
reserves during the current financial year.  
7256.42  
(2818.65)  
6358.92  
626.99  
DIVIDEND:  
Profit before tax  
Less: Provision for tax  
4437.77  
1751.28  
6985.91  
961.15  
During the Financial Year ended 31st March 2021,  
the Company paid a special dividend of 18/- (900%)  
per equity share as interim dividend amounting to  
2,527.66 crore on successful divestment of Electrical and  
Automation business to Schneider Electric India Private  
Limited.  
Profit for the year from continuing  
operations  
Profit before tax from discontinued  
operations  
Less: Tax expense of discontinued  
operations  
2686.49  
11199.23  
2548.75  
6024.76  
865.38  
210.93  
The Directors recommend payment of a final dividend of  
18/- (900%) per equity share of 2/- each on the share  
capital amounting to 2528.20 crore.  
Net profit after tax from  
discontinued operations  
8650.48  
654.45  
Net profit after tax from continuing  
operations and discontinued  
operations  
Add: Balance brought forward  
from the previous year  
Less: Ind AS 116 transition  
adjustment  
Less: Dividend paid for the  
previous year (*Including dividend  
distribution tax)  
The total dividend for FY 2021, including the special  
dividend, if approved by shareholders, would amount to  
36/- (1800%) per equity share.  
11336.97  
6679.21  
16957.17 15046.99  
3.97  
The Dividend payment is based upon the parameters  
mentioned in the Dividend Distribution Policy approved  
by the Board of Directors of the Company which is in line  
with regulation 43A of the SEBI (Listing Obligations and  
Disclosure Requirements) Regulations, 2015. The Policy  
is attached as Annexure ‘F’ forming a part of this Board  
Report and also uploaded on the Company’s website at  
1123.23 *2754.94  
Less: Interim dividend paid during  
the year  
Less: (Profit)/loss on  
2527.66  
1403.89  
remeasurement of the net defined  
benefits plans/Equity instruments  
through other comprehensive  
income  
CAPITAL AND FINANCE:  
During the year under review, the Company allotted  
6
63,275 equity shares of 2/- each upon exercise of stock  
(32.04)  
512.96  
options by the eligible employees under the Employee  
Stock Option Schemes.  
Balance available for disposal  
(
which the Directors appropriate as  
follows)  
24675.29 17050.44  
The Company’s Authorized Capital increased to  
5,025 crore, pursuant to the approval of the Scheme  
of Amalgamation of L&T Shipbuilding Limited with  
the Company. The authorised share capital of L&T  
Shipbuilding Limited has been added to the authorised  
Less: Debenture Redemption  
Reserve  
93.27  
Balance to be carried forward  
24675.29 16957.17