Hero Annual Report 2014-15

Consolidated Statement of Profit and Loss

for the year ended March 31, 2015

` Crores

Particulars	Note No.	For the year ended March 31, 2015	For the year ended March 31, 2014
I Revenue from operations	22
(a) Gross sales of products		29,020.98	27,005.26
Less: Excise duty		1,717.65	1,880.35
		27,303.33	25,124.91
(b) Sale of services and other operating revenue		234.70	150.56
Net revenue from operations		27,538.03	25,275.47
II Other income	23	492.11	444.19
III Total Revenue (I + II)		28,030.14	25,719.66
IV Expenses:
(a) Cost of materials consumed	24	19,790.40	18,221.53
(b) Changes in inventories of finished goods and work-in-progress	25	(75.10)	8.36
(c) Employee benefits expenses	26	1,178.72	930.35
(d) Finance costs	27	11.70	11.82
(e) Depreciation and amortization expenses	13	540.45	1,107.37
(f) Other expenses	28	3,147.28	2,576.13
Total Expenses		24,593.45	22,855.56
V Profit before exceptional item and tax (III - IV)		3,436.69	2,864.10
VI Exceptional item - Provision for diminution in value of non current investment (refer note no. 40)		144.73	-
VII Profit before tax after exceptional item (V -VI)		3,291.96	2,864.10
VIII Tax expenses:
(a) Current tax		899.18	828.21
(b) Minimum alternate tax relating to earlier years		-	(28.02)
(c) Minimum alternate tax credit utilised		-	196.37
Net current tax		899.18	996.56
Deferred tax		44.27	(238.39)
		943.45	758.17
IX Profit for the year before share of profit / (loss) of associates and minority interest (VII-VIII)		2,348.51	2,105.93
X Share of profit/(loss) of associates		15.15	(3.62)
XI Less: Minority interest profit/(loss)		(1.04)	(0.35)
XII Profit for the year (IX+X-XI)		2,364.70	2,102.66
XIII Basic and diluted earnings per equity share (of ` 2 each):	29
(a) before exceptional items		125.66	105.29
(b) after exceptional items		118.41	105.29
Accompanying notes forming part of the financial statements	1 & 2

In terms of our report attached For DELOITTE HASKINS & SELLS Chartered Accountants	For and on behalf of the Board of Directors
	Brijmohan Lall Munjal Chairman DIN - 0004134
Jaideep Bhargava Partner	Pawan Munjal Vice Chairman, Managing Director & CEO DIN - 00004223	Pradeep Dinodia Chairman-Audit Committee DIN - 00027995
New Delhi May 7, 2015	Ravi Sud Sr. Vice President & CFO	IIam C. Kamboj Asso. V. P. Legal & Company Secretary

Consolidated Statement of Profit and Loss

I Revenue from operations

II Other income

III Total Revenue (I + II)

IV Expenses:

V Profit before exceptional item and tax (III - IV)

VI Exceptional item - Provision for diminution in value of non current investment (refer note no. 40)

VII Profit before tax after exceptional item (V -VI)

VIII Tax expenses:

IX Profit for the year before share of profit / (loss) of associates and minority interest (VII-VIII)

X Share of profit/(loss) of associates

XI Less: Minority interest profit/(loss)

XII Profit for the year (IX+X-XI)

XIII Basic and diluted earnings per equity share (of ` 2 each):

VI Exceptional item - Provision for diminution in
value of non current investment (refer note no. 40)

IX Profit for the year before share of profit / (loss) of
associates and minority interest (VII-VIII)