FROM PUBLISHED ACCOUNTS

DISCLOSURES RELATED TO EXCEPTIONAL
ITEMS

Compiler’s Note

DISCLOSURES RELATED TO EXCEPTIONAL
ITEMS

COMPILER’S NOTE

For the year ended 31^st
March, 2020 many companies have considered losses related to Covid-19 and other
losses / gains as ‘Exceptional’ and made corresponding disclosures. Given below
are ‘Exceptional Disclosures’ by a few companies.

RELIANCE INDUSTRIES LTD. (CONSOLIDATED)

From Notes to Financial
Statements

EXCEPTIONAL ITEM

Covid-19 has significant impact on business operations of the
Company. Further, there is substantial drop in oil prices accompanied with
unprecedented demand destruction. The Company based on its assessment has
determined the impact of such exceptional circumstances on its financial
statements and the same has been disclosed separately as ‘Exceptional Item’ of
Rs. 4,245 crores, net of taxes of Rs. 99 crores, in the Statement of Profit and
Loss for the year ended 31^st March, 2020 [also read with Note C(J)
of Critical Accounting Judgements and Key Sources of Estimation Uncertainty
above].
In addition to the above, the Group has also recognised Rs. 53 crores against
erstwhile subsidiary GAPCO liability and Rs. 146 crores (net of tax Rs. 49
crores) for Adjusted Gross Revenue (AGR) dues of Reliance Jio Infocomm Limited,
as part of exceptional item.

HINDUSTAN UNILEVER LTD. (CONSOLIDATED)

From Notes to Financial
Statements

EXCEPTIONAL ITEMS (NET)

(Rs.
in crores)ear ended

ADANI ENTERPRISES LTD. (CONSOLIDATED)

From Notes to Financial
Statements

36. EXCEPTIONAL ITEMS

(Rs.
in crores)

(a)  During the
current year ended 31^st March, 2020 one of the subsidiaries which is
engaged in oil and natural gas exploration business had written off one of its
blocks due to commercial unviability of the project.

(b)  During the
current year ended 31^st March, 2020 the Company has received a
favourable order from the Hon’ble Supreme Court with respect to its claim of
price escalation in mining business. Pursuant to the favourable order, the
Company recognised cumulative revenue and interest thereon since the financial
year 2013-14.

(c)  As decided in the
Board meeting dated 23^rd February, 2019 and as subsequently approved
by shareholders, the Company has divested its investment in agri-logistics and
thermal energy entities in order to consolidate operations within single
business segment of Adani Group and bring in more focus of efficient
operations. Accordingly, the Company has completed sale of its investment in
these entities on 28^th March, 2019 and has recognised net gain of
Rs. 510.26 crores. The gain is recognised after adjusting impairment of
non-current assets of Rs. 464.63 crores in energy business entities as per
independent valuation reports. During the previous year, the Company also
recognised gain of Rs. 27.56 crores on sale of investment in other subsidiaries
/ associates / jointly controlled entities.

(d)  During the
previous year, two subsidiaries in Australia have recognised impairment of
non-current assets of Rs. 670.80 crores due to continuous delay in regulatory
approval process and various legal challenges.

(e) During the previous year, stamp duty of Rs. 25 crores
was paid on account of Composite Scheme of Arrangement for the demerger of the
renewable power undertaking from the Company.

BRITANNIA INDUSTRIES LTD. (STANDALONE)

From Notes to Financial
Statements

NOTE 34 EXCEPTIONAL ITEMS
[(INCOME) / EXPENSE]

(Rs. in crores)

Note: During the year, in accordance with Ind AS 36 – Impairment
of Assets, the Company has, based on its assessment of the business
performance of Britannia and Associates (Mauritius) Private Limited and its
step-down subsidiaries in the Middle East, reversed Rs. 35 crores provision for
diminution in the value of investments in equity shares. Further, the Company
has provided Rs. 16 crores for diminution in the value of investments in equity
shares of Ganges Valley Foods Private Limited which has shut down its factory
operations and announced a Voluntary Retirement Scheme (VRS) for its employees.

BRITANNIA INDUSTRIES LTD. (CONSOLIDATED)

From Notes to Financial
Statements

EXCEPTIONAL ITEMS pertain to voluntary retirement cost
incurred in one of the subsidiaries of the Company.

GLAXO SMITHKLINE PHARMACEUTICALS LTD. (CONSOLIDATED)

From Notes to Financial
Statements

EXCEPTIONAL ITEMS (NET)

(Rs.
in lakhs)

Notes:

(a) The Ultimate Holding Company has been contacted by
regulatory authorities regarding the detection of geno-toxic nitrosamine NDMA
in ranitidine products. Based on the information received and correspondence
with regulatory authorities, the Ultimate Holding Company made the decision to
suspend the release, distribution and supply of all dose forms of ranitidine
hydrochloride products to all markets, including India, as a precautionary
action. The Group manufactures Ranitidine Hydrochloride IP Tablets 150 mg. and
300 mg. (Zinetac) for supply to the Indian market. Further, as a precautionary
action, the Group made the decision to initiate a voluntary pharmacy / retail
level recall of the Zinetac products from the Indian market.

Consequently, the Group recognised provisions of Rs.
108,08.80 lakhs relating to estimates of loss on account of sales returns,
stocks withdrawn and inventories held including incidental costs thereto and
other related costs.

(b) Rs. 59,14.63 lakhs (previous year Rs. 20,07.75 lakhs) is
on account of restructuring of manufacturing and commercial organisation and
Rs. 17,00.00 lakhs is a charge on account of outstanding litigation matter.

TATA CHEMICALS LTD.
(STANDALONE)

Discontinued Operations

(I)  Disposal of consumer products business

The National Company Law
Tribunal (‘NCLT’), Mumbai and NCLT, Kolkata on 10^th January, 2020
and 8^th January, 2020, respectively, sanctioned the Scheme of
Arrangement amongst Tata Consumer Products Limited (formerly Tata Global
Beverages Limited) (‘TCPL’) and the Company and their respective shareholders
and creditors (‘the Scheme’) for the demerger of the Consumer Products Business
Unit (‘CPB’) of the Company to TCPL. The Scheme became effective on 7^th
February, 2020 upon filing of the certified copies of the NCLT Orders
sanctioning the Scheme with the respective jurisdictional Registrar of
Companies. Pursuant to the Scheme becoming effective, the CPB is demerged from
the Company and transferred to and vested in TCPL with effect from 1^st
April, 2019, i.e., the Appointed Date.

As per the clarification
issued by Ministry of Corporate Affairs vide Circular No. 09/2019 dated
21^st August, 2019 (MCA Circular), the Company has recognised the
effect of the demerger on 1^st April, 2019 and debited the fair value
as at 1^st April, 2019 of demerged undertaking, i.e. fair value of
net assets of CPB to be distributed to the shareholders of the Company,
amounting to Rs. 6,307.97 crores to the retained earnings in the Statement of
Changes in Equity as dividend distribution. The difference in the fair value
and the carrying amount of net assets of CPB as at 1^st April, 2019
is recognised as gain on demerger of CPB in the Statement of Profit and Loss as
an exceptional item, amounting to Rs. 6,220.15 crores (net of transaction cost)
during the year ended 31^st March, 2020. Accordingly, the operations
of CPB have been reclassified as discontinued operations for the year ended 31^st
March, 2020. Accordingly, the operations of CPB have been reclassified as
discontinued operations for the year ended 31^st March, 2019 and
comparative information in the Statement of Profit and Loss account has been
restated in accordance with Ind AS 105.

TATA CONSUMER PRODUCTS LTD.

Exceptional Items (Net)

(Rs.
crores)

IIFL FINANCE LTD. (STANDALONE)

Exceptional Items

(i)  During the year
ended 31^st March, 2020 the Company has transferred its mortgage loan
business undertaking with its respective assets and liabilities as a going
concern on a slump sale basis to IIFL Home Finance Limited (formerly known as
‘India Infoline Housing Finance Limited’), a wholly-owned subsidiary of the
Company, w.e.f. 30^th June, 2019. The profit on sale aggregating to
Rs. 15.04 million has been disclosed as exceptional item.

(ii)  During the year
ended 31^st March, 2020 the Company has transferred its microfinance
business undertaking with its respective assets and liabilities as a going
concern on a slump sale basis to Samasta Microfinance Limited as a subsidiary
Company w.e.f. 31^st October, 2019. The profit on sale aggregating to
Rs. 31.02 million has been disclosed as exceptional item.