Cover Page
Cover Page | 12 Months Ended |
Mar. 31, 2023 shares | |
Document information [line items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | TATA MOTORS LTD/FI |
Entity Central Index Key | 0000926042 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Address Country | IN |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity File Number | 001-32294 |
Entity Incorporation, State or Country Code | K7 |
Entity Address, Address Line One | Bombay House |
Entity Address, Address Line Two | 24, Homi Mody Street |
Entity Address, City or Town | Mumbai |
Entity Address, Postal Zip Code | 400 001 |
Document Registration Statement | false |
Document Accounting Standard | International Financial Reporting Standards |
ICFR Auditor Attestation Flag | true |
Auditor Name | KPMG Assurance and Consulting Services LLP |
Auditor Firm ID | 2115 |
Auditor Location | Mumbai, India |
Business Contact [Member] | |
Document information [line items] | |
Entity Address Country | IN |
Entity Address, Address Line One | Bombay House |
Entity Address, Address Line Two | 24, Homi Mody Street |
Entity Address, City or Town | Mumbai |
Entity Address, Postal Zip Code | 400 001 |
City Area Code | 22 |
Contact Personnel Name | Maloy Kumar Gupta |
Contact Personnel Email Address | maloy.gupta@tatamotors.com |
Local Phone Number | 6665 7219 |
Ordinary shares [Member] | |
Document information [line items] | |
Entity Common Stock, Shares Outstanding | 3,321,344,325 |
'A' Ordinary shares [Member] | |
Document information [line items] | |
Entity Common Stock, Shares Outstanding | 508,502,896 |
Consolidated Balance Sheets
Consolidated Balance Sheets ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Current assets: | |||
Cash and cash equivalents | $ 3,880.6 | ₨ 318,869.5 | ₨ 381,590.1 |
Short-term deposits | 546.1 | 44,870.9 | 20,375.8 |
Finance receivables | 2,849.9 | 234,173.1 | 220,953.5 |
Trade receivables | 1,915.3 | 157,379.7 | 124,421.2 |
Investments | 2,292.7 | 188,383 | 227,092.2 |
Other financial assets | 697.5 | 57,310.7 | 59,443.5 |
Inventories | 4,960.4 | 407,597.5 | 352,446 |
Other current assets | 1,166.8 | 95,877.6 | 75,665.7 |
Current income tax assets | 31.6 | 2,592.6 | 2,598.4 |
Assets classified as held for sale | 100.6 | 8,263 | 4,957 |
Total current assets | 18,441.5 | 1,515,317.6 | 1,469,543.4 |
Non-current assets: | |||
Finance receivables | 902.6 | 74,164.2 | 111,358.6 |
Investments | 348.7 | 28,651.9 | 23,209.2 |
Other financial assets | 961.2 | 78,983.1 | 60,228.4 |
Property, plant and equipment | 9,317.4 | 765,611.9 | 789,133.7 |
Right of use assets | 949.4 | 78,010.6 | 66,860.4 |
Goodwill | 102.3 | 8,406 | 8,071.7 |
Intangible assets | 6,470.6 | 531,691.8 | 546,811.7 |
Investments in equity accounted investees | 569 | 46,756.6 | 43,493.9 |
Non-current income tax assets | 189.4 | 15,563.7 | 11,967.9 |
Deferred income taxes | 630.8 | 51,846.7 | 38,708.7 |
Other non-current assets | 1,002.7 | 82,387.9 | 54,215.1 |
Total non-current assets | 21,444.1 | 1,762,074.4 | 1,754,059.3 |
Total assets | 39,885.6 | 3,277,392 | 3,223,602.7 |
Current liabilities: | |||
Accounts payable | 9,253.9 | 760,389.7 | 649,452.8 |
Acceptances | 875.7 | 71,960.1 | 97,799.5 |
Short-term borrowings and current portion of long-term debt | 4,498.3 | 369,646.6 | 419,178.7 |
Other financial liabilities | 1,308.6 | 107,528.6 | 102,549.4 |
Provisions | 1,437.3 | 118,106.6 | 107,664.6 |
Other current liabilities | 1,245.2 | 102,314.9 | 108,242 |
Current income tax liabilities | 153 | 12,542 | 12,538.5 |
Liabilities directly associated with Assets held-for-sale | 31.2 | ||
Total current liabilities | 18,772 | 1,542,488.5 | 1,497,456.7 |
Non-current liabilities: | |||
Long-term debt | 10,792.9 | 886,850 | 977,483.5 |
Other financial liabilities | 1,934 | 158,916 | 112,968.6 |
Deferred income taxes | 171.2 | 14,069.5 | 15,584.4 |
Provisions | 1,606 | 131,966.5 | 129,558.9 |
Other liabilities | 775.8 | 63,746 | 49,986 |
Total non-current liabilities | 15,279.9 | 1,255,548 | 1,285,581.4 |
Total liabilities | 34,051.9 | 2,798,036.5 | 2,783,038.1 |
Equity: | |||
Additional paid-in capital | 2,612.4 | 214,659.5 | 214,138.2 |
Reserves | 1,911.5 | 157,064.3 | 134,538.8 |
Other components of equity | 329.7 | 27,096.4 | 41,420.2 |
Equity attributable to shareholders of Tata Motors Limited | 4,946.8 | 406,480.4 | 397,756 |
Non-controlling interests | 886.9 | 72,875.1 | 42,808.6 |
Total equity | 5,833.7 | 479,355.5 | 440,564.6 |
Total liabilities and equity | 39,885.6 | 3,277,392 | 3,223,602.7 |
Ordinary shares [Member] | |||
Equity: | |||
Ordinary shares | 80.8 | 6,643.2 | 6,641.8 |
'A' Ordinary shares [Member] | |||
Equity: | |||
Ordinary shares | $ 12.4 | ₨ 1,017 | ₨ 1,017 |
Consolidated Income Statements
Consolidated Income Statements ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) $ / shares | Mar. 31, 2023 INR (₨) ₨ / shares | Mar. 31, 2022 INR (₨) ₨ / shares | Mar. 31, 2021 INR (₨) ₨ / shares | |
Statement [line items] | ||||
Revenues | $ 41,377.8 | ₨ 3,400,010.8 | ₨ 2,724,648.4 | ₨ 2,441,151 |
Finance revenues | 513.5 | 42,194.5 | 41,118.5 | 40,480.4 |
Total revenues | 41,891.3 | 3,442,205.3 | 2,765,766.9 | 2,481,631.4 |
Change in inventories of finished goods and work-in-progress | (581.9) | (47,816.2) | 15,904.9 | 46,841.6 |
Purchase of products for sale | 2,714.7 | 223,069.5 | 183,747.7 | 122,500.9 |
Raw materials, components, and consumables | 25,429.9 | 2,089,574.3 | 1,609,556.7 | 1,413,642.9 |
Employee cost | 4,095.9 | 336,561.4 | 308,183.1 | 281,083.7 |
Defined benefit pension plan amendment past service (credit)/cost | (181.9) | (14,950.7) | 848.1 | |
Depreciation and amortization | 2,931.6 | 240,885.7 | 239,317.1 | 229,638.1 |
Other expenses | 8,606.6 | 707,200.9 | 579,491.6 | 470,557.1 |
Provision related to Russia market | 4,286.6 | |||
Restructuring cost/(reversals) at JLR – Assets write downs, employees and third party obligations | (7.4) | (604.5) | 149,943 | |
Reversal of Provision for onerous contracts | (7.4) | (610.3) | (6,630) | |
Expenditure capitalized | (2,243.5) | (184,348.4) | (143,972.1) | (128,491.2) |
Loss/(gains) on sale/write off of assets and others (net) | 64 | 5,258.9 | (555.4) | 3,094.6 |
Other (income)/loss (net) | (371.8) | (30,548.5) | (47,720.8) | (42,368.1) |
Foreign exchange (gain)/loss (net) | (12.7) | (1,040.8) | 805.8 | (18,293.3) |
Interest income | (152.3) | (12,511.8) | (6,252.1) | (4,925.3) |
Interest expense | 1,246.1 | 102,392.3 | 93,263.1 | 80,840.5 |
Share of (profit)/loss of equity accounted investees (net) | (40.9) | (3,363.8) | 740.6 | 3,789.6 |
Net income/(loss) before tax | 428.4 | 35,201.2 | (70,167.3) | (116,727.3) |
Income tax expense | (85.7) | (7,040.6) | (42,204.9) | (25,410.7) |
Net income/(loss) | 342.7 | 28,160.6 | (112,372.2) | (142,138) |
Attributable to: | ||||
Shareholders of Tata Motors Limited | 309.2 | 25,404.8 | (113,699.3) | (142,700.9) |
Non-controlling interests | 33.5 | 2,755.8 | 1,327.1 | 562.9 |
Passenger vehicle segment [member] | ||||
Statement [line items] | ||||
Reversal of Impairment losses in Passenger Vehicle business | ₨ (3,713.5) | |||
Subsidiaries [member] | ||||
Statement [line items] | ||||
Reversal of impairment of assets in subsidiaries | $ (26.1) | ₨ (2,143.9) | ₨ (862.6) | |
Ordinary shares [Member] | ||||
Earnings per share: | ||||
Basic | (per share) | $ 0.1 | ₨ 6.6 | ₨ (29.7) | ₨ (39.2) |
Diluted | (per share) | 0.1 | 6.6 | (29.7) | (39.2) |
'A' Ordinary shares [Member] | ||||
Earnings per share: | ||||
Basic | (per share) | 0.1 | 6.6 | (29.7) | (39.2) |
Diluted | (per share) | $ 0.1 | ₨ 6.6 | ₨ (29.7) | ₨ (39.2) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Statement of comprehensive income [abstract] | ||||
Net income/(loss) | $ 342.7 | ₨ 28,160.6 | ₨ (112,372.2) | ₨ (142,138) |
(i) Items that will not be reclassified subsequently to profit and loss: | ||||
Remeasurement gains / (losses) on defined benefit obligations (net) | (24.1) | (1,980) | 70,834.7 | (72,858.7) |
Share of remeasurement gains / (losses) on defined benefit obligations (net) of equity accounted investees | 0.1 | 4.2 | 19.3 | (15.2) |
Unrealized gains / (losses) on investments (net) | (16.8) | (1,376.5) | 3,924.6 | 4,158.6 |
Share of Unrealized gains / (losses) on investments (net) of equity accounted investees | 0.7 | 58.6 | 28.4 | 45.4 |
Income tax relating to items that will not be reclassified subsequently | 8.9 | 731.9 | (9,637.9) | 13,691.1 |
Items that will not be reclassified subsequently to profit and loss | (31.2) | (2,561.8) | 65,169.1 | (54,978.8) |
(ii) Items that may be reclassified subsequently to profit and loss: | ||||
Currency translation (net) | 93.3 | 7,666 | (3,279) | 37,000.9 |
Gains / (losses) on cash flow hedges (net) | (164) | (13,476.1) | (90,649.9) | 54,427.9 |
Gains on finance receivables held at fair value | 11.9 | 975.2 | 1,981.6 | 2,069 |
Share of other comprehensive income of equity accounted investees (net) | 0.6 | 53 | 2,178.9 | 1,500.1 |
Income tax relating to items that may be reclassified subsequently | (143.7) | (11,807.2) | 20,282.9 | (11,007.8) |
Items that may be reclassified subsequently to profit and loss | (201.9) | (16,589.1) | (69,485.5) | 83,990.1 |
Other comprehensive income/(loss) for the year, net of tax (i+ii) | (233.1) | (19,150.9) | (4,316.4) | 29,011.3 |
Total comprehensive income/(loss) for the year | 109.6 | 9,009.7 | (116,688.6) | (113,126.7) |
Attributable to: | ||||
Shareholders of Tata Motors Limited | 73.7 | 6,056.3 | (118,021.9) | (113,881.2) |
Non-controlling interests | $ 35.9 | ₨ 2,953.4 | ₨ 1,333.3 | ₨ 754.5 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ₨ in Thousands, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Cash flows from operating activities: | ||||
Net income/(loss) | $ 342.7 | ₨ 28,160,600 | ₨ (112,372,200) | ₨ (142,138,000) |
Adjustments for: | ||||
Depreciation and amortization expense | 2,931.6 | 240,885,700 | 239,317,100 | 229,638,100 |
Inventory write-down (net) | 88 | 7,232,000 | 1,253,400 | 1,291,900 |
Allowances for finance receivables | 248.2 | 20,391,500 | 13,075,900 | 9,579,400 |
Defined benefit pension plan amendment past service (credit)/cost | (181.9) | (14,950,700) | 848,100 | |
Provision for employee separation cost | 4,307,600 | |||
Provision related to Russia market | 4,286,600 | |||
Restructuring cost/(reversals) at JLR – Assets write downs, employees and third party obligations | (7.5) | (619,900) | 149,943,000 | |
Impairment losses of Intangible assets under development | 28 | 2,299,500 | ||
Reversal of provision for onerous contracts | (7.4) | (610,300) | (6,630,000) | |
Allowances for trade and other receivables | 9.8 | 806,300 | 1,512,600 | 500,100 |
Share-based payments | 3.7 | 300,300 | 180,500 | 90,400 |
Share of (profit)/loss of equity accounted investees (net) | (40.9) | (3,363,800) | 740,600 | 3,789,600 |
Loss/(gains) on sale/write off of assets and others (net) | 43.2 | 3,549,600 | 941,900 | 3,094,600 |
Marked-to-market (gain)/loss on investments measured at fair value through profit or loss | (11.4) | (932,700) | (528,600) | (199,100) |
Profit on sale of investments (net) | (36.9) | (3,034,400) | (2,137,000) | (1,772,600) |
(Gain)/Loss on change in fair value of commodity derivatives | 189.6 | 15,581,500 | (4,860,400) | (13,657,900) |
Discounting of warranty and other provisions | (17.1) | (1,407,600) | ||
Foreign exchange (gain)/loss (net) | 457.5 | 37,595,000 | (8,217,200) | (43,981,200) |
Income tax expense | 85.7 | 7,040,600 | 42,204,900 | 25,410,700 |
Interest expense | 1,246.1 | 102,392,300 | 93,263,100 | 80,840,500 |
Interest income | (152.3) | (12,511,800) | (6,252,100) | (4,925,300) |
Dividend income | (5.6) | (464,200) | (342,200) | (183,700) |
Cash flows from operating activities before changes in following assets and liabilities | 5,187 | 426,195,600 | 261,204,300 | 292,132,700 |
Trade receivables | (344.4) | (28,301,000) | 2,610,800 | (11,183,500) |
Finance receivables | 75.1 | 6,174,500 | (756,300) | (43,869,400) |
Other financial assets | (89.6) | (7,360,400) | 1,292,600 | (12,755,800) |
Other current assets | (235.7) | (19,367,400) | (12,812,400) | 872,800 |
Inventories | (689.5) | (56,653,600) | 4,687,400 | 37,975,100 |
Other non-current assets | (151.6) | (12,453,500) | (40,309,300) | 37,329,100 |
Accounts payable | 544.2 | 44,717,500 | (51,080,200) | 6,606,500 |
Acceptances | 301 | 24,731,000 | (19,219,700) | 50,875,000 |
Other current liabilities | (38.4) | (3,155,100) | 16,618,200 | 16,375,800 |
Other financial liabilities | (103.7) | (8,517,200) | 3,074,900 | 1,974,000 |
Other non-current liabilities | 184 | 15,120,100 | (39,407,800) | 12,508,600 |
Provisions | 58.5 | 4,805,700 | 36,022,200 | (77,790,200) |
Cash generated from operations | 4,696.9 | 385,936,200 | 161,924,700 | 311,050,700 |
Income tax paid (net) | (386.9) | (31,789,900) | (19,096,400) | (21,045,600) |
Net cash provided by operating activities | 4,310 | 354,146,300 | 142,828,300 | 290,005,100 |
Cash flows from investing activities: | ||||
Deposits with banks/financial institutions | (2,366.6) | (194,466,000) | (128,088,600) | (372,793,600) |
Realization of deposits with banks / financial institutions | 1,993.4 | 163,801,000 | 253,868,600 | 380,859,900 |
Investments in Mutual Fund (purchased)/sold (net) | 482.3 | 39,632,500 | (29,685,400) | (74,328,500) |
Disposal of subsidiary company | 2.4 | 193,700 | (984,500) | |
Investments in other companies | (6.1) | (500,000) | (397,100) | (973,000) |
Proceeds from sale of investments in other companies | 7.2 | 593,300 | 1,035,500 | 2,258,200 |
Deposits of margin money and other restricted deposits | (54.3) | (4,463,100) | (9,942,200) | (19,639,100) |
Realization of margin money and other restricted deposits | 71.5 | 5,872,800 | 18,917,400 | 17,526,900 |
Proceeds from disposal of defence business | 2,340,900 | |||
Investment in Government securities | (345.6) | (28,398,700) | (12,282,100) | |
Proceeds from sale of investments in government securities | 349.6 | 28,728,800 | ||
Investments in equity accounted investees | (99,000) | |||
Dividends received from equity accounted investees | 2.6 | 216,900 | 15,100 | |
Interest received | 118.5 | 9,734,400 | 6,529,400 | 4,275,000 |
Dividend received | 5.6 | 464,200 | 320,100 | 183,700 |
Payments for property, plant and equipment | (1,016.8) | (83,546,500) | (90,394,000) | (117,756,500) |
Proceeds from sale of property, plant and equipment | 34.7 | 2,850,300 | 2,301,000 | 3,505,800 |
Payments for intangible assets | (1,188.7) | (97,677,000) | (61,290,200) | (84,297,500) |
Payments of other assets with a view to resale | (36.3) | (2,982,000) | ||
Net cash used in investing activities | (2,048.4) | (168,308,300) | (47,751,200) | (261,262,600) |
Cash flows from financing activities: | ||||
Proceeds from issue of shares and warrants (net of issue expenses) | 2.4 | 196,000 | 185,900 | 26,025,100 |
Proceeds from issuance of compulsorily convertible preference shares | 456.4 | 37,500,000 | 37,500,000 | |
Dividends paid to non-controlling interests shareholders of subsidiaries (including dividend distribution tax) | (17.1) | (1,408,800) | (983,900) | (287,500) |
Interest paid | (1,212.5) | (99,631,500) | (97,931,800) | (85,002,700) |
Proceeds from issuance of short-term debt | 3,422.8 | 281,254,500 | 168,967,800 | 208,071,500 |
Repayment of short-term debt | (3,772.4) | (309,978,200) | (194,604,500) | (110,789,300) |
Net change in other short-term debt (with maturity up to three months) | (91.7) | (7,537,300) | (19,755,900) | (45,442,700) |
Proceeds from issuance of long-term debt | 1,985.5 | 163,150,600 | 315,212,000 | 296,423,600 |
Repayments of long-term debt | (3,840.8) | (315,594,600) | (233,558,000) | (186,296,100) |
Proceeds/ (payments) from option settlement of long term borrowings | (13) | (1,065,100) | (977,700) | 350,100 |
Repayment of matured fixed deposits | (4,800) | |||
Repayment of lease liability | (108.2) | (8,894,200) | (10,171,900) | (9,813,000) |
Dividend paid (including transferred to IEPF) | (15,300) | (15,700) | ||
Buy back of stake from minority shareholders | (36) | (2,959,200) | ||
Proceeds from issuance /(payment) for acquisition of shares from non-controlling interests | (12.1) | (995,000) | 2,400 | |
Proceeds from issuance of perpetual instrument classified as equity by a subsidiary (net) | 43 | 3,533,800 | 4,762,800 | 7,007,500 |
Net cash (used in)/ provided by financing activities | (3,193.7) | (262,429,000) | (33,801,700) | 99,041,900 |
Net change in cash and cash equivalents | (932.1) | (76,591,000) | 61,275,400 | 127,784,400 |
Effect of foreign exchange on cash and cash equivalents | 168.8 | 13,870,400 | 3,314,600 | 4,537,700 |
Cash and cash equivalents, beginning of the year | 4,643.9 | 381,590,100 | 317,000,100 | 184,678,000 |
Cash and cash equivalents, end of the year | 3,880.6 | 318,869,500 | 381,590,100 | 317,000,100 |
Non-cash transactions: | ||||
Liability towards property, plant and equipment and intangible assets purchased on credit/deferred credit | 482 | 39,606,200 | 45,476,800 | 53,678,400 |
Subsidiaries [member] | ||||
Adjustments for: | ||||
Reversal for impairment in subsidiaries | (26.1) | (2,143,900) | ₨ (862,600) | |
Passenger vehicle segment [member] | ||||
Adjustments for: | ||||
Reversal of impairment losses in Passenger Vehicle business | ₨ (3,713,500) | |||
Ford assets [Member] | ||||
Cash flows from investing activities: | ||||
Payments for property, plant and equipment | $ (101.8) | ₨ (8,362,900) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity ₨ in Millions, $ in Millions | USD ($) | INR (₨) | Share capital [Member] USD ($) | Share capital [Member] INR (₨) | Additional paid-in capital [Member] USD ($) | Additional paid-in capital [Member] INR (₨) | Share Based Payment Reserve [member] USD ($) | Share Based Payment Reserve [member] INR (₨) | Currency translation reserve [Member] USD ($) | Currency translation reserve [Member] INR (₨) | Debt Instruments Through Other Comprehensive Income [Member] USD ($) | Debt Instruments Through Other Comprehensive Income [Member] INR (₨) | Equity Instruments Through Other Comprehensive Income [member] USD ($) | Equity Instruments Through Other Comprehensive Income [member] INR (₨) | Share Based Payment Other Reserve [member] INR (₨) | Hedging reserve [Member] USD ($) | Hedging reserve [Member] INR (₨) | Cost Of Hedging Reserve [member] USD ($) | Cost Of Hedging Reserve [member] INR (₨) | Other components of equity [Member] USD ($) | Other components of equity [Member] INR (₨) | Capital redemption reserve [Member] USD ($) | Capital redemption reserve [Member] INR (₨) | Debenture redemption reserve [Member] USD ($) | Debenture redemption reserve [Member] INR (₨) | Reserve for research and human resource development [Member] USD ($) | Reserve for research and human resource development [Member] INR (₨) | Special reserve [Member] USD ($) | Special reserve [Member] INR (₨) | Earned surplus reserve [Member] USD ($) | Earned surplus reserve [Member] INR (₨) | Retained earnings [Member] USD ($) | Retained earnings [Member] INR (₨) | Reserves [Member] INR (₨) | Equity attributable to shareholders of Tata Motors Limited [Member] USD ($) | Equity attributable to shareholders of Tata Motors Limited [Member] INR (₨) | Non-controlling interests [Member] USD ($) | Non-controlling interests [Member] INR (₨) | Share application money pending allotment USD ($) | Share application money pending allotment INR (₨) |
Balance at the beginning at Mar. 31, 2020 | ₨ 598,034.7 | ₨ 7,195.4 | ₨ 299,787.9 | ₨ 131.4 | ₨ 51,422.5 | ₨ 886.3 | ₨ 391 | ₨ (41,937.1) | ₨ (4,428.7) | ₨ 22.8 | ₨ 10,388.5 | ₨ 1,993.9 | ₨ 4,904.1 | ₨ 451.8 | ₨ 258,591.4 | ₨ 589,801.2 | ₨ 8,233.5 | |||||||||||||||||||||||
Income/(loss) for the year | (142,138) | (142,700.9) | (142,700.9) | 562.9 | ||||||||||||||||||||||||||||||||||||
Other comprehensive income /(loss) for the period | 29,011.3 | 38,269.5 | 1,681.5 | 4,026.1 | 40,346.2 | 3,549.2 | (59,052.8) | 28,819.7 | 191.6 | |||||||||||||||||||||||||||||||
Total comprehensive income/(loss) for the period | (113,126.7) | 38,269.5 | 1,681.5 | 4,026.1 | 40,346.2 | 3,549.2 | (201,753.7) | (113,881.2) | 754.5 | |||||||||||||||||||||||||||||||
Amounts recognized in inventory | 1,242.2 | 368.8 | 873.4 | 1,242.2 | ||||||||||||||||||||||||||||||||||||
Issue of shares pursuant to preferential allotment | 26,025.1 | 462.7 | 25,562.4 | 26,025.1 | ||||||||||||||||||||||||||||||||||||
Shares issued to non-controlling interests | 2.4 | 2.4 | ||||||||||||||||||||||||||||||||||||||
Issue of perpetual instrument classified as equity by a subsidiary | 7,130 | 7,130 | ||||||||||||||||||||||||||||||||||||||
Non-controlling interest on Acquisitions during the period | 25.2 | 25.2 | 25.2 | |||||||||||||||||||||||||||||||||||||
Realized gain on investments held at fair value through Other comprehensive income | (43.6) | 43.6 | ||||||||||||||||||||||||||||||||||||||
Dividend paid (including dividend tax) | (287.5) | 90.4 | (287.5) | |||||||||||||||||||||||||||||||||||||
Share based payments | 90.4 | 90.4 | ||||||||||||||||||||||||||||||||||||||
Transfer (from)/to retained earnings | (1,344) | 887.2 | 456.8 | |||||||||||||||||||||||||||||||||||||
Balance at the end at Mar. 31, 2021 | 519,135.8 | 7,658.1 | 325,350.3 | 221.8 | 89,692 | 2,567.8 | 4,373.5 | ₨ 325,572.1 | (1,222.1) | (6.1) | ₨ 95,405.1 | 22.8 | 9,044.5 | 1,993.9 | 5,791.3 | 451.8 | 57,363.3 | ₨ 74,667.6 | 503,302.9 | 15,832.9 | ||||||||||||||||||||
Income/(loss) for the year | (112,372.2) | (113,699.3) | (113,699.3) | 1,327.1 | ||||||||||||||||||||||||||||||||||||
Other comprehensive income /(loss) for the period | (4,316.4) | (1,131.4) | 1,429.6 | 3,423.4 | (69,638.8) | (176.1) | 61,770.7 | (4,322.6) | 6.2 | |||||||||||||||||||||||||||||||
Total comprehensive income/(loss) for the period | (116,688.6) | (1,131.4) | 1,429.6 | 3,423.4 | (69,638.8) | (176.1) | (51,928.6) | (118,021.9) | 1,333.3 | |||||||||||||||||||||||||||||||
Amounts recognized in inventory | 12,108.4 | 11,061.9 | 1,046.5 | 12,108.4 | ||||||||||||||||||||||||||||||||||||
Issue of shares pursuant to preferential allotment | 4,850 | |||||||||||||||||||||||||||||||||||||||
Issue of perpetual instrument classified as equity by a subsidiary | 4,850 | |||||||||||||||||||||||||||||||||||||||
Dividend paid (including dividend tax) | (1,460.6) | (1,460.6) | ||||||||||||||||||||||||||||||||||||||
Buy back of shares | (2,457.9) | (2,457.9) | ||||||||||||||||||||||||||||||||||||||
Proceeds from Compulsory Convertible Preference Shares (net of Debt issue cost) – classified as equity by subsidiary | 24,710.9 | 24,710.9 | ||||||||||||||||||||||||||||||||||||||
Money received on exercise of stock options by employees | 185.4 | 121.5 | 185.4 | ₨ 63.9 | ||||||||||||||||||||||||||||||||||||
Exercise of stock option by employees | 0.7 | 0.7 | 19.5 | (19.5) | 0.7 | |||||||||||||||||||||||||||||||||||
Share based payments | 180.5 | 180.5 | 180.5 | |||||||||||||||||||||||||||||||||||||
Transfer (from)/to retained earnings | (111,735.9) | (4,933) | 383.9 | 116,285 | ||||||||||||||||||||||||||||||||||||
Balance at the end at Mar. 31, 2022 | 440,564.6 | 7,658.8 | 213,755.4 | 382.8 | $ 1,077.8 | 88,560.6 | 3,997.4 | 7,796.9 | ₨ 214,138.2 | $ (727.7) | (59,799) | 864.3 | 41,420.2 | 22.8 | 4,111.5 | 1,993.9 | 6,175.2 | 451.8 | 121,719.7 | ₨ 134,538.8 | 397,756 | 42,808.6 | 63.9 | |||||||||||||||||
Income/(loss) for the year | $ 342.7 | 28,160.6 | 25,404.8 | 25,404.8 | 2,755.8 | |||||||||||||||||||||||||||||||||||
Other comprehensive income /(loss) for the period | (19,150.9) | 8,068 | 789.2 | (923.7) | (14,301.2) | (11,345.6) | (1,635.2) | (19,348.5) | 197.6 | |||||||||||||||||||||||||||||||
Total comprehensive income/(loss) for the period | 109.6 | 9,009.7 | 8,068 | 789.2 | (923.7) | (14,301.2) | (11,345.6) | 23,769.7 | 6,056.4 | 2,953.4 | ||||||||||||||||||||||||||||||
Amounts recognized in inventory | 3,588.1 | 3,195 | 393.1 | 3,588.1 | ||||||||||||||||||||||||||||||||||||
Amount Reclassified to Profit and Loss | (198.6) | (198.6) | ||||||||||||||||||||||||||||||||||||||
Acquisition of minority | (1,019.7) | (1,217.8) | (1,217.8) | 198.1 | ||||||||||||||||||||||||||||||||||||
Distribution to Minority | (1,408.8) | (1,408.8) | ||||||||||||||||||||||||||||||||||||||
Issue of perpetual instrument classified as equity by a subsidiary | 3,600 | 3,600 | ||||||||||||||||||||||||||||||||||||||
Proceeds from Compulsory Convertible Preference Shares (net of Debt issue cost) – classified as equity by subsidiary | 24,723.8 | 24,723.8 | ||||||||||||||||||||||||||||||||||||||
Money received on exercise of stock options by employees | 194.7 | 234 | 194.7 | (39.3) | ||||||||||||||||||||||||||||||||||||
Exercise of stock option by employees | 1.4 | 1.4 | 37.9 | (37.9) | 1.4 | |||||||||||||||||||||||||||||||||||
Share based payments | 300.3 | 300.3 | 300.3 | 0 | ||||||||||||||||||||||||||||||||||||
Transfer of lapsed Stock options | (13) | 13 | ||||||||||||||||||||||||||||||||||||||
Transfer (from)/to retained earnings | 111,735.9 | (1,998) | 259.9 | 1,738.1 | ||||||||||||||||||||||||||||||||||||
Balance at the end (Previously stated [member]) at Mar. 31, 2023 | $ 2,612.4 | 214,659.5 | $ 1,911.5 | 157,064.3 | ||||||||||||||||||||||||||||||||||||
Balance at the end at Mar. 31, 2023 | $ 5,833.7 | ₨ 479,355.5 | $ 93.2 | ₨ 7,660.2 | $ 2,604.7 | ₨ 214,027.3 | $ 7.7 | ₨ 632.2 | $ 1,176 | ₨ 96,628.6 | $ 55.8 | ₨ 4,588 | $ 83.6 | ₨ 6,873.2 | $ (862.9) | ₨ (70,905.2) | $ (122.8) | ₨ (10,088.2) | $ 329.7 | ₨ 27,096.4 | $ 0.3 | ₨ 22.8 | $ 25.7 | ₨ 2,113.5 | $ 24.3 | ₨ 1,993.9 | $ 78.3 | ₨ 6,435.1 | $ 5.5 | ₨ 451.8 | $ 1,777.1 | ₨ 146,022.6 | $ 4,946.8 | ₨ 406,480.4 | $ 886.9 | ₨ 72,875.1 | $ 0.3 | ₨ 24.6 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Parenthetical) - INR (₨) ₨ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Additional paid-in capital [member] | |||
Transfer from (to) retained earnings | ₨ 111,735.9 | ₨ (111,735.9) | |
Perpetual Securities [Member] | |||
Perpetual securities issued | ₨ 3,600 | ₨ 4,850 | ₨ 7,130 |
Perpetual securities issued, maturity | 10 years | 10 years | 10 years |
Bottom of range [member] | Perpetual Securities [Member] | |||
Perpetual securities issued, interest rate | 9.23% | 8.35% | 9.60% |
Top of range [member] | Perpetual Securities [Member] | |||
Perpetual securities issued, interest rate | 9.30% | 9.10% | 10.50% |
Background and operations
Background and operations | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Background and operations | 1. Background and operations Tata Motors Limited and its subsidiaries and joint operations, (collectively referred to as “the Company” or “Tata Motors”), designs, manufactures and sells a wide range of automotive vehicles. The Company provides financing for the vehicles sold by dealers of the Company in certain markets. The Company also manufactures engines for industrial and marine applications, aggregates such as axles and transmissions for commercial vehicles and factory automation equipment, and provides information technology services. Tata Motors Limited (“Parent Company”) is a public limited company incorporated and domiciled in India and has its registered office at Mumbai, Maharashtra, India. The Company’s subsidiaries include the Jaguar Land Rover business (referred to as JLR or Jaguar Land Rover). As on March 31, 2023, Tata Sons Private Limited (or Tata Sons), together with its subsidiaries and joint ventures, owns The consolidated financial statements were approved by the Board of Directors and authorized for issue on June 12 |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Significant accounting policies | 2. Significant accounting policies a. Statement of compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (referred to as “IFRS”) as issued by the International Accounting Standards Board (referred to as “IASB”). b. Basis of preparation The consolidated financial statements have been prepared on historical cost basis except for certain financial instruments, which are measured at fair value at the end of each reporting period as explained in the accounting policies. Accounting policies are included in the relevant notes to the consolidated financial statements. For accounting policies related to financial assets and financial liabilities, refer note no. 38A. c. Basis of consolidation Subsidiaries The consolidated financial statements include Tata Motors Limited and its subsidiaries. Subsidiaries are entities controlled by the Company. Control exists when the Company (a) has power over the investee, (b) is exposed, or has rights, to variable returns from its involvement with the investee and (c) has the ability to affect those returns through its power to direct relevant activities of the investee. Relevant activities are those activities that significantly affect an entity’s returns. The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements listed above. In assessing control, potential voting rights that currently are exercisable and other contractual arrangements that may influence control are taken into account. The impact of subsidiaries acquired or disposed of during the year are included in the consolidated financial statements from the effective date of acquisition and up to the effective date of disposal, as appropriate. Inter-company transactions and balances including unrealized profits are eliminated on consolidation. Non-controlling non-controlling non-controlling acquisition-by-acquisition non-controlling non-controlling non-controlling non-controlling Changes in the Company’s interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. The carrying amount of the Company’s interests and the non-controlling non-controlling When the Company loses control of a subsidiary, the profit or loss on disposal is calculated as the difference between (i) the aggregate of the fair value of consideration received and the fair value of any retained interest and; (ii) the previous carrying amount of the assets (including goodwill), and liabilities of the subsidiary and any non-controlling Interests in joint arrangements A joint arrangement is an arrangement of which two or more parties have joint control. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Joint operations Certain of the Company’s activities, are conducted through joint operations, which are joint arrangements whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement. The Company recognizes, in the consolidated financial statements, its share of the assets, liabilities, income and expenses of these joint operations incurred jointly with the other partners, along with its share of income from the sale of the output and any assets, liabilities and expenses that it has incurred in relation to the joint operation. Joint ventures A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. The results, assets and liabilities of a joint venture are incorporated in these financial statements using the equity method of accounting as described below. Associates Associates are those entities over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control of those policies. Significant influence is presumed to exist when the Company holds 20 percent or more of the voting power of the investee. If accounting policies of associates differ from those adopted by the Group, the accounting policies of associates are aligned with those of the Group. The results, assets and liabilities of associates are incorporated in these financial statements using the equity method of accounting as described below. Equity method of accounting (equity accounted investees) An interest in an associate or joint venture is accounted for using the equity method from the date the investee becomes an associate or a joint venture and are recognized initially at cost. The carrying value of investment in associates and joint ventures includes goodwill identified on date of acquisition, net of any accumulated impairment losses. The consolidated financial statements include the Company’s share of profits or losses, other comprehensive income and equity movements of equity accounted investments, from the date that significant influence or joint control commences until the date that significant influence or joint control ceases. When the Company’s share of losses exceeds its interest in an equity accounted investments, the carrying amount of that interest (including any long-term interests in the nature of net investments) is reduced to nil and the recognition of further losses is discontinued except to the extent that the Company has incurred constructive or legal obligations or has made payments on behalf of the investee. When the Company transacts with an associate or joint venture of the Company, unrealized profits and losses are eliminated to the extent of the Company’s interest in its associate or joint venture. Dividends are recognised when the right to receive payment is established. d. Business Combinations Acquisitions of subsidiaries and businesses are accounted for using the acquisition method. Acquisition related costs are recognized in profit or loss as incurred. The acquiree’s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition are recognized at their fair value at the acquisition date, except certain assets and liabilities that are required to be measured as per the applicable standard. Purchase consideration in excess of the Company’s interest in the acquiree’s net fair value of identifiable assets, liabilities and contingent liabilities is recognized as goodwill. Excess of the Company’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities over the purchase consideration is recognized, after reassessment of fair value of net assets acquired, in the consolidated income statement. e. Going Concern assessment The Company’s consolidated financial statements have been prepared on a going concern basis. The Company has performed an assessment of its financial position as at March 31, 2023 and forecasts of the Company and JLR for a period of at least twelve months from the date of authorization of these financial statements (the ‘Going Concern Assessment Period’ and the ‘Foreseeable Future’). The Company and JLR have assessed their projected cash flows over the going concern assessment period. In developing these forecasts, the Company and JLR have modelled a base case, which has been further sensitised using severe but plausible downside scenarios. The base case uses the most recent Board-approved forecasts that include the going concern assessment period; taking into account the Group’s expectations of improved semiconductor supply, optimisation of production to prioritise the highest margin products along with the expectations relating to prevailing economic conditions, including the impact of inflationary pressures on material costs. For the Company, the base case has been further sensitized using more severe but plausible scenarios considering external market commentaries and other factors impacting the global economy and automotive industry. For JLR, a reverse stress test against the base case has been carried out to determine the decline in wholesale volume over a 12-month period that would result in a liquidity level that breached the GBP1 billion liquidity financing covenants. The reverse stress test assumes continued supply constraints and optimisation of supply to maximise production of higher margin products. In order to reach a liquidity level that breaches covenants, it would require a sustained decline in wholesale volumes of more than 12-month Covid-19 Based on the evaluation described above, management believes that the Company and JLR have sufficient financial resources available to it at the date of approval of these financial statements and that it will be able to continue as a ‘going concern’ in the foreseeable future and for a period upto at least twelve months from the date of authorisation of these financial statement. f. Use of estimates and judgments The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, expenses and disclosures of contingent assets and liabilities at the date of these financial statements and the reported amounts of revenues and expenses for the years presented. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed at each balance sheet date. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in future periods affected. In particular, information about significant areas of estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the financial statements are included in the following notes: i) Note 13, 16 and 17 – Property, plant and equipment and intangible assets—useful lives and impairment, capitalization of product development costs ii) Note 15 – Impairment of goodwill iii) Note 20 – Recoverability/recognition of deferred tax assets iv) Note 25 – Provision for product warranty v) Note 32 – Measurement of assets and obligations relating to employee benefits vi) Note 4 – Allowances for credit losses for finance receivables vii) Estimated discounts / incentives required to be paid to dealers on retail of vehicles viii) Note 2(e) – Going concern assessment g. Cost recognition Costs and expenses are recognized when incurred and are classified according to their nature. Expenditure are capitalized, where appropriate, in accordance with the policy for internally generated intangible assets and represents employee costs, stores and other manufacturing supplies, and other expenses incurred for construction and product development undertaken by the Company. Material and other cost of sales as reported in the consolidated income statement is presented net of the impact of realized foreign exchange relating to derivatives hedging cost exposures. h. Foreign currency These consolidated financial statements are presented in Indian rupees, which is the functional currency of Tata Motors Limited. Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of transaction. Foreign currency denominated monetary assets and liabilities are re-measured 1.) to the extent of exchange differences on foreign currency borrowings which are capitalized when they are regarded as an adjustment to interest costs. 2.) exchange difference on certain foreign currency borrowings which are designated as hedging instruments against net investment hedges of foreign operation. Exchange difference on such hedges are recognised with foreign currency translation reserve. For the purpose of presenting consolidated financial statements, the assets and liabilities of the Company’s foreign operations (having non-INR Exchange differences arising from the translation of foreign operations previously recognized in currency translation reserve in equity are not reclassified from equity to the consolidated income statement until the disposal of such operation. i. Impairment i) Goodwill Cash generating units to which goodwill is allocated are tested for impairment annually at each balance sheet date, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to that unit and then to the other assets of the unit pro rata on the basis of carrying amount of each asset in the unit. Goodwill impairment loss recognized is not reversed in subsequent period s ii) Equity accounted investments: Joint ventures and associates When necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment as a single asset by comparing its recoverable amount with its carrying amount. Any impairment loss recognised forms part of the carrying amount of the investment. Any reversal of that impairment loss is recognised to the extent that the recoverable amount of the investment subsequently increases. iii) Property, plant and equipment and other intangible assets At each balance sheet date, the Company assesses whether there is any indication that any property, plant and equipment and intangible assets with finite lives may be impaired. Intangible assets with indefinite useful lives and intangible assets not yet available for use, are tested for impairment annually at each balance sheet date, or earlier, if there is an indication that the asset may be impaired. If any such impairment exists the recoverable amount of an asset is estimated to determine the extent of impairment, if any. Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The Company also periodically assesses if there are any triggers for reversal of previously recognised impairment loss. A reversal of impairment loss is recognised if there is a trigger for reversal and the recoverable value exceeds the carrying value. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax 7 If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated income statement. An asset or cash-generating unit impaired in prior years is reviewed at each balance sheet date to determine whether there is any indication of a reversal of impairment loss recognized in prior years. j. Recent accounting pronouncements not yet adopted by the Company New Accounting pronouncements affecting amounts reported and /or disclosures in the financial statements. Accounting Standard Description Applicable date Amendments to IAS 1 Non – current Liabilities with Covenants January 1, 2024 Amendments to IAS 1 Disclosure of Accounting Policies January 1, 2023 Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction January 1, 2023 Amendments to IAS 8 Definition of Accounting Estimates January 1, 2023 Amendments to IAS 1 Classification of Liabilities as Current or Non-Current January 1, 2024 Amendments to IFRS 16 Lease Liability in Sale and Leaseback January 1, 2024 IFRS 17 Insurance Contracts January 1, 2023 Amendments to IAS 1 – Non - current Liabilities with Covenants The amendment clarifies how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. The standard is effective for annual periods beginning on or after January 1, 2024 with early application permitted. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IAS 1 – Disclosure of Accounting Policies The amendments require that an entity discloses its material accounting policies, instead of its significant accounting policies. Further amendments explain how an entity can identify a material accounting policy. Examples of when an accounting policy is likely to be material are added. To support the amendment, the Board has also developed guidance and examples to explain and demonstrate the application of the ‘four – step materiality process’ described in IFRS Practice Statement 2. The standard is effective for annual periods beginning on or after January 1, 2023. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IAS 12 – Deferred Tax related to Assets and Liabilities arising from a Single Transaction The amendments clarify that the initial recognition exemption does not apply to transactions in which equal amounts of deductible and taxable temporary differences arise on initial recognition. The amendments are effective for annual periods beginning on or after January 1, 2023. Early application is permitted. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IAS 8 – Definition of Accounting Estimates The amendments replace the definition of a ‘change in accounting estimates; with a definition of ‘accounting estimates’. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty”. Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty. The amendments clarify that a change in accounting estimate that results from new information or new developments is not the correction of an error. The amendments are effective for annual periods beginning on or after January 1, 2023. Early application is permitted. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IAS 1 – Classification of Liabilities as Current or Non-Current The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current. The amendments are effective for annual periods beginning on or after January 1, 2024. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IFRS 16 - Lease Liability in Sale and Leaseback The amendment clarifies how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale. The amendments are effective for annual periods beginning on or after January 1, 2024. The Company is assessing probable impact in its financial statements on adoption of these amendments. IFRS 17 Insurance Contracts In May 2017, IASB issued IFRS 17 which establishes the principles for recognition, measurement, presentation and disclosure of insurance contracts and supersedes IFRS 4 Insurance Contracts. IFRS 17 requires insurance liabilities to be measured at a current fulfilment value and provides a more uniform measurement and presentation approach for all insurance contracts. The Company has assessed that there will be no impact upon adoption of IFRS 17. k. Convenience translation The consolidated financial statements have been presented in Indian rupees (“Rs.”), Tata Motors Limited’s functional currency. For the convenience of the reader, the financial statements as at and for the year ended March 31, 2023, have been translated into U.S. dollars at US$1.00 = Rs.82.17 based on fixing rate in the City of Mumbai on March 31, 2023, for cable transfers in Indian rupees as published by the Foreign Exchange Dealers’ Association of India (FEDAI). Such translation should not be construed as representation that the rupee amounts have been or could be converted into U.S. dollars at that or any other rate, or at all. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Cash and cash equivalents | 3 Cash and cash equivalents 3A. Accounting policy Cash and cash equivalents comprises cash on hand, demand deposits and highly liquid investments with an original maturity of up to three month that are readily convertible into cash and which are subject to an insignificant risk of changes in value. 3B. Cash and cash equivalents consist of the following: As at March 31, 2023 2023 2022 (In millions) Cash balances US$ 0.9 Rs. 77.2 Rs. 114.7 Balances with banks (including deposits with original maturity of up to three months) 3,879.7 318,792.3 381,475.4 Total US$ 3,880.6 Rs. 318,869.5 Rs. 381,590.1 |
Finance receivables
Finance receivables | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Finance receivables | 4. Finance receivables 4A. Accounting policy Loss allowance in respect of finance receivables is measured at an amount equal to twelve month expected losses if credit risk on such assets has not increased significantly since initial recognition. An allowance equal to lifetime expected losses is provided if credit risk has increased significantly from date of initial recognition or where the financial assets were deemed credit impaired at initial recognition. The allowance is also based on management’s evaluation of many factors, including current economic conditions, observable changes in portfolio performance and historical experience of losses. Credit risk is determined to have increased significantly when a finance receivable becomes thirty days past due. Such impairment loss is recognized in the consolidated income statement. Such increases in credit risk are relative and assessment may include external ratings (where available) or other information such as past due payments. Historic data and forward-looking information are both considered. Objective evidence for a significant increase in credit risk may include where payment is overdue by sixty/ninety or more days as well as other information about significant financial difficulties of the borrower. If the amount of impairment loss decreases in a subsequent period, and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed. The reversal is recognized in the consolidated income statement. 4B. Finance receivables consist of vehicle loans, the details of which are as follows: As at March 31, 2023 2023 2022 (In millions) Finance receivables US$ 3,984.7 Rs. 327,414.4 Rs. 350,386.4 Less: allowance for credit losses 232.2 19,077.1 18,074.3 Total US$ 3,752.5 Rs. 308,337.3 Rs. 332,312.1 Current portion 2,849.9 234,173.1 220,953.5 Non-current 902.6 74,164.2 111,358.6 Total US$ 3,752.5 Rs. 308,337.3 Rs. 332,312.1 Changes in the allowance for credit losses in finance receivables are as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 220.0 Rs. 18,074.3 Rs. 12,476.8 Rs. 6,513.7 Allowances made during the year 248.2 20,391.5 13,075.9 9,579.4 Written off (236.0 ) (19,388.7 ) (7,478.4 ) (3,616.3 ) Balance at the end US$ 232.2 Rs. 19,077.1 Rs. 18,074.3 Rs. 12,476.8 |
Allowance for trade and other r
Allowance for trade and other receivables | 12 Months Ended |
Mar. 31, 2023 | |
Statement [line items] | |
Allowance for trade and other receivables | 5. Allowance for trade and other receivables Accounting Policy Expected credit losses are forward looking and are measured in a way that is unbiased and represents a probability-weighted amount, takes into account the time value of money (values are discounted using the applicable effective interest rate) and uses reasonable and supportable information. The Company adopts the simplified approach permitted in IFRS 9 to apply lifetime expected credit losses to trade receivables and contract assets. Where credit risk is deemed low at the reporting date or to have not increased significantly, credit losses for the next 12 months are calculated. Change in the allowances for trade and other receivables are as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 140.7 Rs. 11,558.1 Rs. 12,743.8 Rs. 13,606.8 Allowances made during the year 9.8 806.3 1,512.6 500.1 Written off (15.7 ) (1,290.4 ) (2,592.2 ) (1,501.6 ) Currency translation 0.1 8.8 (106.1 ) 138.5 Balance at the end US$ 134.9 Rs. 11,082.8 Rs. 11,558.1 Rs. 12,743.8 |
Investments - non-current
Investments - non-current | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Investments - non-current | 6. Investments - non-current As at March 31, 2023 2023 2022 (In millions) (a) Investments - measured at Fair value through Other Comprehensive Income Equity shares (quoted) US$ 78.2 Rs. 6,433.1 Rs. 8,029.1 Equity shares (unquoted) 84.2 6,916.5 6,697.1 Total US$ 162.4 Rs. 13,349.6 Rs. 14,726.2 (b) Investments - measured at Fair value through profit or loss Investment in Government securities (quoted) US$ 1.2 Rs. 94.9 Rs. — Non-cumulative — 4.0 4.0 Cumulative redeemable preference shares (unquoted) 0.2 15.0 15.0 Equity shares (unquoted) 45.1 3,706.4 2,486.0 Convertible debentures (unquoted) 8.2 673.1 551.9 Others (quoted) 0.6 48.9 — Total US$ 55.3 Rs. 4,542.3 Rs. 3,056.9 (c) Investments - measured at amortised cost Investment in Government Securities (quoted) US$ 131.0 10,760.0 5,426.1 US$ 131.0 Rs. 10,760.0 Rs. 5,426.1 Total (a+b+c) US$ 348.7 Rs. 28,651.9 Rs. 23,209.2 |
Investments - current
Investments - current | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Investments - current | 7. Investments - current As at March 31, 2023 2023 2022 (In millions) (a) Investments - measured at Fair value through profit and loss Mutual funds US$ 496.2 Rs. 40,764.8 Rs. 57,526.2 Convertible debentures — — 515.0 Total US$ 496.2 Rs. 40,764.8 Rs. 58,041.2 (b) Investments - measured at amortized cost Quoted: Investment in Government Securities US$ 16.4 Rs. 1,344.4 Rs. 6,856.2 Unquoted: Mutual funds 1,780.1 146,273.8 162,194.8 Total US$ 1,796.5 Rs. 147,618.2 Rs. 169,051.0 Total (a+b) US$ 2,292.7 Rs. 188,383.0 Rs. 227,092.2 |
Other financial assets
Other financial assets | 12 Months Ended |
Mar. 31, 2023 | |
Other financial assets - current | |
Statement [line items] | |
Other financial assets | 8. Other financial assets - current Other financial assets - current consist of the following: As at March 31, 2023 2023 2022 (In millions) Derivative financial instruments US$ 140.9 Rs. 11,574.9 Rs. 19,184.9 Loans to channel partners 14.5 1,192.3 1,208.9 Advances and other receivables recoverable in cash 361.6 29,715.2 23,369.8 Deposits with financial institution 12.2 1,002.3 3,000.0 Inter corporate deposits 0.5 43.0 43.0 Government grant receivables 46.3 3,805.3 5,227.5 Restricted bank deposits 78.1 6,415.1 4,726.0 Finance lease receivables 4.8 391.4 289.2 Others 38.6 3,171.2 2,394.2 Total US$ 697.5 Rs. 57,310.7 Rs. 59,443.5 Restricted bank deposits include Rs.5,040.0 million and Rs.3,167.1 million as at March 31, 2023 and 2022, respectively, held as security in relation to interest and repayment of borrowings. Out of these deposits, Rs.2,338.1 million and Rs.1,807.1 million as at March 31, 2023 and 2022, respectively, are pledged till the maturity of the respective borrowings. |
Other financial assets - noncurrent [Member] | |
Statement [line items] | |
Other financial assets | 9. Other financial assets - Non-current Other financial assets - non-current As at March 31, 2023 2023 2022 (In millions) Derivative financial instruments US$ 326.9 Rs. 26,860.1 Rs. 20,175.9 Loans to channel partners 77.1 6,339.1 7,204.6 Advance and other receivables recoverable in cash 67.9 5,579.2 6,648.2 Margin money with banks 6.5 530.6 3,638.4 Government grants receivables 200.7 16,488.3 12,241.0 Loans to employees 6.0 494.2 289.8 Deposits with financial institution 109.5 9,000.0 — Deposits with banks 23.4 1,921.3 832.4 Restricted deposits 16.3 1,335.3 2,099.8 Finance lease receivables 65.6 5,391.3 4,307.0 Others 61.3 5,043.7 2,791.3 Total US$ 961.2 Rs. 78,983.1 Rs. 60,228.4 Margin money with banks is restricted cash deposits and consists of collateral provided for transfer of finance receivables. Restricted deposits as at March 31, 2023 and 2022, include s million respectively, held as a financial deposit in relation to ongoing legal cases. |
Inventories
Inventories | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Inventories | 10. Inventories 10A. Accounting Policy Inventories (other than those recognized consequent to the sale of vehicles subject to repurchase arrangements) are valued at the lower of cost and net realizable value. Cost of raw materials, components and consumables are ascertained on a first in first out basis. Cost, including fixed and variable production overheads, are allocated to work-in-progress Inventories include vehicles sold subject to repurchase arrangements. These vehicles are carried at cost to the Company and are amortized in changes in inventories of finished goods to their residual values (i.e., estimated second hand sale value) over the term of the arrangement. 10B. Inventories consist of the following: As at March 31, 2023 2023 2022 (In millions) Raw materials, components and consumables US$ 701.3 Rs. 57,623.9 Rs. 57,726.9 Work-in-progress 710.8 58,407.4 55,965.4 Finished goods 3,548.3 291,566.2 238,753.7 Total US$ 4,960.4 Rs. 407,597.5 Rs. 352,446.0 Inventories of finished goods include Rs.40,861.2 million and Rs.35,891.8 million as at March 31, 2023 and 2022, respectively relating to vehicles sold subject to repurchase arrangements. Cost of inventories (including cost of purchased products) recognized as expense during the years ended March 31, 2023, 2022 and 2021, amounted to Rs.2,462,745.6 million, Rs.2,067,617.9 million and Rs.1,823,608.8 million, respectively. During the years ended March 31, 2023, 2022 and 2021, the Company recorded inventory write-down expenses of Rs.7,232.0 million, Rs.1,253.4 million and Rs.1,291.9 million, respectively. |
Other current assets
Other current assets | 12 Months Ended |
Mar. 31, 2023 | |
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Other current assets | 11. Other current assets Other current assets consist of the following: As at March 31, 2023 2023 2022 (In millions) Advances to suppliers and contractors US$ 119.3 Rs. 9,805.9 Rs. 8,152.1 Taxes recoverable, statutory deposits and dues from government 667.8 54,864.8 40,312.8 Prepaid expenses 274.6 22,567.8 20,292.9 Employee benefits 0.1 9.0 — Others 105.0 8,630.1 6,907.9 Total US$ 1,166.8 Rs. 95,877.6 Rs. 75,665.7 |
Other non-current assets
Other non-current assets | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Other non-current assets | 12. Other non-current Other non-current As at March 31, 2023 2023 2022 (In millions) Taxes recoverable, statutory deposits and dues from government US$ 78.5 Rs. 6,447.4 Rs. 6,215.9 Prepaid expenses 93.0 7,644.6 2,825.2 Employee benefits 819.4 67,328.3 43,169.4 Others 11.8 967.6 2,004.6 Total US$ 1,002.7 Rs. 82,387.9 Rs. 54,215.1 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Property, plant and equipment | 13. Property, plant and equipment 13A. Accounting policy Property, plant and equipment are stated at cost of acquisition or construction less accumulated depreciation and impairment, if any. Freehold land is measured at cost and is not depreciated. Heritage assets, comprising antique vehicles purchased by the Company, are not depreciated as they are considered to have a residual value in excess of cost. Residual values are re-assessed Cost includes purchase price, non-recoverable Subsequent Expenditure relating to property, plant and equipment is capitalised only when it is probable that future economic benefits associated with these will flow to the Company and the cost of the item can be measured reliably. Repairs and Maintenance costs are recognized in the statement of profit and loss when incurred. Interest cost incurred for constructed assets is capitalized up to the date the asset is ready for its intended use, based on borrowings incurred specifically for financing the asset or the weighted average rate of all other borrowings, if no specific borrowings have been incurred for the asset. Depreciation is provided on a straight-line basis over estimated useful lives of the assets. Estimated useful lives of the assets are as follows: Type of Asset Estimated useful life Buildings, Roads, Bridge and culverts 4 to 60 years Plant and equipment 3 to 30 years Computers 3 to 6 years Vehicles 3 to 11 years Furnitures and fixtures 3 to 21 years The depreciation period for property, plant and equipment with finite useful lives is reviewed at each year–end. Changes in expected useful lives are treated as changes in accounting estimates. Depreciation is not recorded on capital work-in-progress Capital-work-in-progress An item of property, plant and equipment is derecognized on disposal. Any gain or loss arising from derecognition of an item of property, plant and equipment is included in income statement when it is derecognized. 13B. Land and Plant and Vehicles Computers Furniture Heritage Capital work-in- progress Total (In millions) Cost as at April 1, 2022 Rs. 315,947.4 Rs. 1,451,199.1 Rs. 5,510.3 Rs. 28,882.2 Rs. 17,937.4 Rs. 3,290.0 Rs. 36,653.9 Rs. 1,859,420.3 Additions 6,826.8 51,123.1 550.1 3,322.7 717.3 — 74,857.5 137,397.5 Additions on account of Ford plant acquisition (refer note below) 6,277.1 — — — — — 3,132.2 9,409.3 Transferred to gross block — — — — — — (60,255.3 ) (60,255.3 ) Assets held for sale (6,157.0 ) — — — — (186.5 ) — (6,343.5 ) Write down of assets — — — — — — (1.0 ) (1.0 ) Currency translation 7,560.9 27,574.1 41.4 558.4 372.4 2.4 1,276.3 37,385.9 Disposals/Adjustments (1,508.0 ) (28,649.5 ) (1,122.8 ) (196.4 ) (184.8 ) (379.7 ) — (32,041.2 ) Cost as at March 31, 2023 328,947.2 1,501,246.8 4,979.0 32,566.9 18,842.3 2,726.2 55,663.6 1,944,972.0 Accumulated Depreciation as at April 1, 2022 (80,641.9 ) (952,946.5 ) (3,401.1 ) (19,180.1 ) (12,172.7 ) (1,944.2 ) — (1,070,286.5 ) Depreciation for the year (12,808.2 ) (99,218.5 ) (527.8 ) (2,356.9 ) (925.7 ) — — (115,837.1 ) Assets held for sale 575.6 — — — — — — 575.6 Reversal of impairment loss (refer note 18(c)) — 587.7 — — — — — 587.7 Currency translation (2,421.2 ) (19,836.6 ) (219.9 ) (336.4 ) (244.6 ) — — (23,058.7 ) Disposals/Adjustments 365.6 27,056.3 926.7 167.9 142.4 — — 28,659.0 Accumulated Depreciation as at March 31, 2023 (94,930.1 ) (1,044,357.6 ) (3,222.1 ) (21,705.5 ) (13,200.6 ) (1,944.2 ) — (1,179,360.1 ) Net carrying amount as at March 31, 2023 Rs. 234,017.1 Rs. 456,889.2 Rs. 1,756.9 Rs. 10,861.4 Rs. 5,641.7 Rs. 782.0 Rs. 55,663.6 Rs. 765,611.9 US$ 9,317.4 Land and Plant and Vehicles Computers Furniture Heritage Capital work-in- progress Total (In millions) Cost as at April 1, 2021 Rs. 315,064.9 Rs. 1,356,630.4 Rs. 6,697.1 Rs. 27,432.1 Rs. 18,110.0 Rs. 3,536.9 Rs. 85,087.8 Rs. 1,812,559.1 Additions 6,150.5 124,013.6 549.8 2,273.3 1,215.3 50.8 82,887.8 217,141.1 Transferred to Gross Block — — — — — — (130,754.0 ) (130,754.0 ) Assets held for sale (915.5 ) — — — — (191.6 ) — (1,107.1 ) Write down of assets — — — — — — (722.8 ) (722.8 ) Currency translation (3,918.8 ) (17,141.6 ) (43.8 ) (619.7 ) (643.0 ) (17.4 ) 155.1 (22,229.2 ) Disposals/Adjustments (433.7 ) (12,303.3 ) (1,692.9 ) (203.4 ) (745.0 ) (88.7 ) — (15,467.0 ) Cost as at March 31, 2022 315,947.4 1,451,199.1 5,510.3 28,882.2 17,937.4 3,290.0 36,653.9 1,859,420.3 Accumulated Depreciation as at April 1, 2021 (69,641.1 ) (885,252.8 ) (3,489.9 ) (17,538.9 ) (11,924.7 ) (1,670.9 ) — (989,518.3 ) Depreciation for the year (12,862.1 ) (91,543.2 ) (870.3 ) (2,166.9 ) (1,013.3 ) — — (108,455.8 ) Assets held for sale 608.8 — — — — — — 608.8 Reversal of impairment loss (refer note 18 (c)) — 264.0 0.6 24.6 63.6 — 352.8 Write down of assets — — — — — (273.3 ) (273.3 ) Currency translation 1,077.5 11,583.1 32.6 345.5 151.1 — — 13,189.8 Disposals/Adjustments 175.0 12,002.4 925.9 155.6 550.7 — — 13,809.5 Accumulated Depreciation as at March 31, 2022 (80,641.9 ) (952,946.5 ) (3,401.1 ) (19,180.1 ) (12,172.7 ) (1,944.2 ) — Rs. (1,070,286.5 ) Net carrying amount as at March 31, 2022 Rs. 235,305.5 Rs. 498,252.6 Rs. 2,109.2 Rs. 9,702.1 Rs. 5,764.7 Rs. 1,345.8 Rs. 36,653.9 Rs. 789,133.7 On May 30, 2022, Tata Passenger Electric Mobility Ltd.(TPEML), wholly owned subsidiary of the Company, Ford India Private Limited (“FIPL”) and the Government of Gujarat signed a Memorandum of Understanding for the potential acquisition of FIPL’s Sanand vehicle manufacturing facility, including (i) the land and buildings, (ii) the vehicle manufacturing plant, machinery and equipment, and (iii) the transfer of all eligible employees of FIPL’s Sanand vehicle manufacturing operations. FIPL will operate its powertrain manufacturing facilities by leasing back the land and buildings of the powertrain unit from TPEML. On August 7, 2022, TPEML and FIPL, have signed a Unit Transfer Agreement (UTA) for the acquisition of FIPL’s manufacturing plant situated at Sanand, Gujarat for a total consideration, exclusive of taxes, of Rs.7,257.0 million. Pursuant to the fulfilment of the necessary condition precedents, including receipt of relevant regulatory approvals, the parties have completed the transaction on January 10, 2023 and the Company has acquired the Sanand Property and the Plant and Machinery. Additionally, all the eligible employees were offered employment, and those who have accepted the Company’s offer of employment, have been transferred to the Company and have become employees of the Company with effect from January 10, 2023. |
Leases
Leases | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Leases | 14. Leases 14A. Accounting policy Accounting as a lessee: At inception of a contract, the Company assesses whether a contract is, or contain a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether: • The contract involves the use of an identified asset – this may be specified explicitly or implicitly, and should be physically distinct or represent substantially all of the capacity of a physically distinct asset. If the supplier has a substantive substitution right, then the asset is not identified; • The Company has the right to substantially all of the economic benefits from the use of the asset throughout the period of use; and • The Company has the right to direct the use of the asset. The Company has this right when it has the decision making rights that are most relevant to changing how and for what purposes the asset is used. In rare cases where the decision about how and for what purpose the asset is used is predetermined, the Group has the right to direct the use of the asset if either: • The Company has the right to operate the asset; or • The Company designed the asset in a way that predetermines how and for what purposes it will be used. As a practical expedient, IFRS 16 permits a lessee not to separate non-lease non-lease The Company recognises a right-of-use right-of-use right-of-use right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at commencement date, discounted using the Company’s incremental borrowing rate. The lease liability is measured at amortised cost using the effective interest method. It is re measured when there is a change in future lease payments. The Company has elected not to recognise right-of-use Lease payments include fixed payments, i.e. amounts expected to be payable by the Company under residual value guarantee, the exercise price of a purchase option if the Company is reasonably certain to exercise that option and payment of penalties for terminating the lease if the lease term considered reflects that the Company shall exercise termination option. The Company also recognises a right of use asset which comprises of amount of initial measurement of the lease liability, any initial direct cost incurred by the Company and estimated dilapidation costs. Accounting as a lessor: At the inception of a lease, the lease arrangement is classified as either a finance lease or an operating le as At inception or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of their relative standalone prices. If an arrangement contains lease and non-lease Amounts due from lessees under finance leases are recognised as receivables at the amount of the Company’s net investment in the leases. The Company applies the derecognition and impairment requirements in IFRS 9 to the net investment in the lease. The Group further regularly reviews estimated unguaranteed residual values used in calculating the gross investment in the lease. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company’s net investment outstanding in respect of the leases 14B. Leases as lessee The Company leases a number of buildings, plant and equipment, IT hardware and software assets, certain of which have a renewal and/or purchase option in the normal course of the business. Extension and termination options are included in a number of leases across the Company. The majority of extension and termination options held are exercisable only by the Company and not by the respective lessor. The Company assesses at lease commencement whether it is reasonably certain to exercise the extension or termination option. The Company re-assesses When measuring lease liability, the Company discounted lease payments using its incremental borrowing rate for the year ended March 31, 2023. The weighted-average rate applied is 8.01 % p.a. The following amounts are included in the Consolidated Balance Sheet: As at March 31, 2023 2023 2022 (In millions) Current lease liabilities (Refer Note 23) US$ 107.7 Rs. 8,844.8 Rs. 8,095.4 Non-current 921.1 75,684.9 59,624.4 Total lease liabilities US$ 1,028.7 Rs. 84,529.7 Rs. 67,719.8 The following amounts are recognised in the consolidated income statement: For the year ended March 31, 2023 2023 2022 (In millions) Interest expense on lease liabilities US$ 76.3 Rs. 6,271.9 Rs. 5,417.6 Variable lease payment not included in the measurement of lease liabilities 0.5 39.8 35.7 Expenses related to short-term leases 14.3 1,174.7 1,155.8 Expenses related to low-value low-value 15.2 1,245.5 1,151.4 Income from sub-leasing right-of-use US$ 1.2 Rs. 99.2 Rs. 9.9 Right of use assets consist of the following: (In millions) Land Buildings Plant, and equipments Furniture, Appliances Vehicles Computers & Other Assets Total Cost as at April 1, 2022 Rs. 3,034.9 Rs. 77,858.8 Rs. 15,605.6 Rs. 1,681.9 Rs. 3,133.8 Rs. 4,495.6 Rs. 497.7 Rs. 106,308.3 Additions 59.9 14,440.1 2,525.4 20.2 2,257.1 554.2 — 19,856.9 Disposals/Adjustments (247.4 ) (3,488.4 ) (3,672.2 ) (43.1 ) (1,259.5 ) (3,170.7 ) (173.0 ) (12,054.3 ) Currency translation 37.4 2,220.9 182.7 87.4 31.3 15.8 2.7 2,578.2 Cost as at March 31, 2023 2,884.8 91,031.4 14,641.5 1,746.4 4,162.7 1,894.9 327.4 116,689.1 Accumulated amortisation as at April 1, 2022 (1,198.1 ) (23,132.9 ) (9,083.6 ) (628.6 ) (1,297.5 ) (3,749.8 ) (357.4 ) (39,447.9 ) Amortisation for the year (337.1 ) (7,392.1 ) (2,300.0 ) (136.3 ) (400.8 ) (438.3 ) (69.9 ) (11,074.5 ) Amortisation - considered as employee cost — — — — (593.9 ) — — (593.9 ) Reversal of impairment loss (refer — 2,143.9 — — — — — 2,143.9 Disposals/Adjustments 19.5 3,160.7 3,207.7 43.1 1,172.4 3,154.7 163.3 10,921.4 Currency translation (38.3 ) (397.2 ) (153.7 ) (31.8 ) (7.2 ) 4.2 (3.5 ) (627.5 ) Accumulated amortisation as at March 31, 2023 (1,554.0 ) (25,617.6 ) (8,329.6 ) (753.6 ) (1,127.0 ) (1,029.2 ) (267.5 ) (38,678.5 ) Net carrying amount as at March 31, 2023 Rs. 1,330.8 Rs. 65,413.8 Rs. 6,311.9 Rs. 992.8 Rs. 3,035.7 Rs. 865.7 Rs. 59.9 Rs. 78,010.6 US$ 949.4 (In millions) Land Buildings Plant, and equipments Furniture, Appliances Vehicles Computers & Other Assets Total Cost as at April 1, 2021 Rs. 3,060.1 Rs. 69,650.7 Rs. 14,045.9 Rs. 1,414.8 Rs. 1,753.7 Rs. 4,164.6 Rs. 398.1 Rs. 94,487.9 Additions 10,778.9 1,808.8 331.8 1,493.9 439.7 107.4 14,960.5 Disposals/Adjustments — (1,571.0 ) (121.4 ) — (84.6 ) (70.2 ) — (1,847.2 ) Currency translation (25.2 ) (999.8 ) (127.7 ) (64.7 ) (29.2 ) (38.5 ) (7.8 ) (1,292.9 ) Cost as at March 31, 2022 3,034.9 77,858.8 15,605.6 1,681.9 3,133.8 4,495.6 497.7 106,308.3 Accumulated amortisation as at April 1, 2021 (818.5 ) (17,257.7 ) (6,701.3 ) (292.7 ) (927.4 ) (3,387.7 ) (195.8 ) (29,581.1 ) Amortisation for the year (397.4 ) (7,087.2 ) (2,476.7 ) (350.8 ) (217.8 ) (462.1 ) (168.2 ) (11,160.2 ) Amortisation - considered as employee cost — — — — (208.0 ) — — (208.00 ) Reversal of impairment loss (refer c — 37.6 — — — — — 37.6 Disposals/Adjustments — 864.0 1.6 — 32.5 70.2 — 968.3 Currency translation 17.8 310.4 92.8 14.9 23.2 29.8 6.6 495.5 Accumulated amortisation as at March 31, 2022 (1,198.1 ) (23,132.9 ) (9,083.6 ) (628.6 ) (1,297.5 ) (3,749.8 ) (357.4 ) (39,447.9 ) Net carrying amount as at March 31, 2022 Rs. 1,836.8 Rs. 54,725.9 Rs. 6,522.0 Rs. 1,053.3 Rs. 1,836.3 Rs. 745.8 Rs. 140.3 Rs. 66,860.4 The Company has committed towards leases of Plant, Machinery and Equipments which have not yet commenced for Rs.194.8 million as on March 31, 2023 (Rs.220.0 million as on March 31, 2022). There are no leases with residual value guarantees. 14C. Leases as lessor: There are certain vehicles which are being given to the customers along with operations and maintenance of the same. These are accounted as finance lease as the material risks and rewards are transferred to the lessee. The average effective interest rate contracted approximates 3.7 % and 8.5% (2022: 3.7% and 8.1 %) per annum. The following amounts are included in the Consolidated Balance Sheet: As at March 31, 2023 2023 2022 (In millions) Current lease receivables US$ 4.8 Rs. 391.4 Rs. 289.2 Non-current 65.6 5,391.3 4,307.0 Total lease receivables US$ 70.4 Rs. 5,782.7 Rs. 4,596.2 The following amounts are recognised in the consolidated income statement: For the year ended March 31, 2023 2023 2022 (In millions) Sales Revenue for finance leases US$ 16.9 Rs. 1,389.4 Rs. 2,785.8 Finance income on the net investment in finance leases 5.7 470.3 260.2 The table below provides details regarding the contractual maturities of finance lease receivables as at March 31, 2023 and March 31, 2022: As at March 31, 2023 2023 2022 (In millions) Due in 1st Year US$ 4.8 Rs. 391.4 Rs. 289.2 Due in 2nd Year 5.6 456.8 334.9 Due in 3rd to 5th Year 19.1 1,572.4 1,148.6 Due beyond 5th Year 40.9 3,362.1 2,823.5 Total contractual cash flows US$ 70.4 Rs. 5,782.7 Rs. 4,596.2 |
Goodwill
Goodwill | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Goodwill | 15. Goodwill As at March 31, 2023 2023 2022 (In millions) Balance at the beginning US$ 98.2 Rs. 8,071.7 Rs. 8,037.2 Currency translation 4.1 334.3 34.5 Balance at the end US$ 102.3 Rs. 8,406.0 Rs. 8,071.7 The carrying amount of goodwill has been allocated to CGU as follows: As at March 31, 2023 2023 2022 (In millions) Passenger vehicles - automotive and related activity segment (Tata and other brand vehicles) US$ 12.1 Rs. 990.9 Rs. 990.9 Software consultancy and service 90.2 7,415.1 7,080.8 Total US$ 102.3 Rs. 8,406.0 Rs. 8,071.7 The recoverable amount has been determined based on value in use. Value in use has been determined based on future cash flows, after considering current economic conditions and trends, estimated future operating results, growth rates and anticipated future economic conditions. As at March 31, 2023, the estimated cash flows for a period of 5 years were developed using internal forecasts, and a pre-tax long term |
Intangible assets
Intangible assets | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Intangible assets | 16 Intangible assets 16A. Accounting policy Intangible assets purchased, including those acquired in business combinations, are measured at cost which is the fair value as of the date of acquisition where applicable less accumulated amortization and impairment, if any. Intangible assets with indefinite lives are reviewed annually to determine whether an indefinite-life assessment continues to be supportable. If not, the change in the useful-life assessment from indefinite to finite is made on a prospective basis. For intangible assets with finite lives, amortization is provided on a straight-line basis over the estimated useful lives of the acquired intangible assets as per the estimated amortization period below Type of Asset Estimated amortization period Patents and technological know-how 2 to 12 years Customer related intangibles - Dealer network 20 years Intellectual property rights 3 to 10 years Computer Software 1 to 8 years Product development costs 2 to 10 years The amortization period for intangible assets with finite useful lives is reviewed at each year-end. Capital work-in-progress Internally generated intangible asset Research costs are charged to the consolidated income statement in the year in which they are incurred. Product development costs incurred on new vehicle platform, engines, transmission and new products are recognized as intangible assets, when feasibility has been established, the Company has committed technical, financial and other resources to complete the development and it is probable that asset will generate probable future economic benefits. The probable future economic benefits are assessed using key assumptions such as forecasted sales volumes, margins and capital expenditures. The Company applies judgement in determining at what point in a vehicle program’s life cycle the recognition criteria are satisfied. The cost of an internally generated intangible asset is the sum of directly attributable expenditure incurred from the date when the intangible asset first meets the recognition criteria to the completion of its development. The costs capitalized include the cost of materials, direct labor and directly attributable overhead expenditure incurred up to the date the asset is available for use. Interest cost incurred is capitalized up to the date the asset is ready for its intended use, based on borrowings incurred specifically for financing the asset or the weighted average rate of all other borrowings if no specific borrowings have been incurred for the asset. Capitalized development expenditure is measured at cost less accumulated amortization and accumulated impairment, if any. Amortisation is not recorded on product engineering in progress until development is complete. Derecognition of intangible assets An item of intangible assets is derecognized on disposal or when fully amortized or no longer in use. Any gain or loss arising from derecognition of an item of intangible assets is included in income statement. 16B. Intangible assets consist of the following: Software Patents and Customer Intellectual rights and Product Indefinite life Intangible Assets under Total (In millions) Cost as at April 1, 2022 Rs. 96,958.7 Rs. 17,467.3 Rs. 6,538.4 Rs. 9,178.9 Rs. 1,025,002.8 Rs. 55,966.1 Rs. 64,994.4 Rs. 1,276,106.6 Additions 6,676.0 868.9 — — 64,498.6 — 87,254.4 * 159,297.9 Capitalised product development — — — — — — (66,872.2 ) (66,872.2 ) Write down of assets — — — — — — (1,789.8 ) (1,789.8 ) Currency translation 2,687.4 (79.4 ) 129.3 830.8 27,446.0 — 2,241.7 33,255.8 Fully amortized not in use (277.7 ) (2.1 ) — — (113,797.0 ) — — (114,076.8 ) Cost as at March 31, 2023 Rs. 106,044.4 Rs. 18,254.7 Rs. 6,667.7 Rs. 10,009.7 Rs. 1,003,150.4 Rs. 55,966.1 Rs. 85,828.5 Rs. 1,285,921.5 Accumulated amortization at April 1, 2022 (74,821.8 ) (16,316.2 ) (4,810.1 ) (3,822.3 ) (616,214.6 ) (13,309.9 ) — (729,294.9 ) Amortization for the year (7,202.4 ) (246.2 ) (245.3 ) (286.7 ) (105,993.5 ) — — (113,974.0 ) Currency translation (2,350.3 ) 335.0 (111.2 ) (705.8 ) (22,205.2 ) — — (25,037.5 ) Fully amortized not in use 277.7 2.1 — 113,797.0 — — 114,076.8 Accumulated amortization at March 31, 2023 (84,096.8 ) (16,225.3 ) (5,166.6 ) (4,814.8 ) (630,616.3 ) (13,309.9 ) — (754,229.7 ) Net carrying amount as at March 31, 2023 Rs. 21,947.6 Rs. 2,029.4 Rs. 1,501.1 Rs. 5,194.9 Rs. 372,534.1 Rs. 42,656.2 Rs. 85,828.5 Rs. 531,691.8 US$ 6,470.6 Cost as at April 1, 2021 Rs. 95,999.6 Rs. 17,321.6 Rs. 6,627.8 Rs. 10,292.9 Rs. 1,011,615.9 Rs. 55,966.1 Rs. 122,684.3 Rs. 1,320,508.2 Additions 2,731.4 351.6 — 26.1 112,493.9 — 57,488.3 * 173,091.3 Capitalised product development — — — — — — (114,076.0 ) (114,076.0 ) Write down of assets — — — — — — (918.1 ) (918.1 ) Currency translation (1,241.4 ) (205.9 ) (89.4 ) (912.2 ) 12,538.3 — (184.1 ) 9,905.3 Fully amortized not in use (530.9 ) — — (227.9 ) (111,645.3 ) — — (112,404.1 ) Cost as at March 31, 2022 96,958.7 17,467.3 6,538.4 9,178.9 1,025,002.8 55,966.1 64,994.4 1,276,106.6 Accumulated amortization at April 1, 2021 (69,031.5 ) (16,123.9 ) (4,619.7 ) (3,962.1 ) (598,977.8 ) (13,309.9 ) — (706,024.9 ) Amortization for the year (7,307.5 ) (393.2 ) (258.9 ) (315.7 ) (111,425.9 ) — — (119,701.2 ) Reversal for impairment loss (refer note 18(c)) (0.2 ) — — — — — — (0.2 ) Currency translation 986.5 200.9 68.5 227.6 (17,456.2 ) — — (15,972.7 ) Fully amortized not in use 530.9 — — 227.9 111,645.3 — — 112,404.1 Accumulated amortization at March 31, 2022 (74,821.8 ) (16,316.2 ) (4,810.1 ) (3,822.3 ) (616,214.6 ) (13,309.9 ) — (729,294.9 ) Net carrying amount as at March 31, 2022 Rs. 22,136.9 Rs. 1,151.1 Rs. 1,728.3 Rs. 5,356.6 Rs. 408,788.2 Rs. 42,656.2 Rs. 64,994.4 Rs. 546,811.7 * Additions include allocation of central overheads amounting to Rs.7,826.6 million and Rs . 1. The useful life of trademarks and brands in respect of the acquired Jaguar Land Rover businesses have been determined to be indefinite as the Company expects to generate future economic benefits indefinitely from these assets. 2. During the year ended March 31, 2014, legislation was enacted that allows United Kingdom (UK) companies to elect for the Research and Development Expenditure Credit (RDEC) on qualifying expenditures incurred since April 1, 2013, instead of the existing super-deduction rules. As a result of this election by the Company’s subsidiary in the UK, Rs.7,360.5 million, Rs.3,970.6 million and Rs.4,463.9 million of the RDEC, for the years ended March 31, 2023, 2022 and 2021 respectively, the proportion relating to capitalized product development expenditure, have been off set against these assets. The remaining Rs.9,588.0 million, Rs.3,461.5 million and Rs.3,978.7 million for the years ended March 31, 2023, 2022 and 2021 respectively, have been recognized as miscellaneous income, a component of other income/(loss) (net). |
Impairment assessment of Jaguar
Impairment assessment of Jaguar Land Rover Business | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Impairment assessment of Jaguar Land Rover Business | 17 Impairment assessment of Jaguar Land Rover Business The operations of its subsidiary Jaguar Land Rover (JLR), excluding equity accounted investments, represents a single cash-generating unit (“CGU”). This is because of the closely connected nature of the cash flows and the degree of integrated development and manufacturing activities. In accordance with accounting standard, management have performed an impairment assessment as at January 31, 2023. The date of the assessment was changed from that of the prior year (March 31, 2022) to better align with the business plan cycle. The impairment assessment determined that the CGU recoverable value exceeded the carrying amount by Rs.152,467.2 million (£1,500 million) (2022: Rs.59,654.0 million (£600 million)) and therefore no impairment was identified. While the performance of the business was better in latter part of the year, it was further determined that this improvement in performance and resultant increase in headroom did not require the reversal of the previously recorded impairment loss as the underlying drivers for the increased headroom do not support a reversal, after considering the unwind of the discount rate and the impact of the depreciation. JLR has considered it appropriate to undertake the impairment assessment with reference to the latest business plan that was in effect as at the reporting date. The business plan includes a five-year cash flow forecast and contains growth rates that are primarily a function of the JLR’s Cycle Plan assumptions, historic performance and management’s expectation of future market developments through to 2027/28. In estimating the future cash flows management have given due consideration to the inherent uncertainty of forecast information and have adjusted some of the assumptions in the business plan to take into account possible variations in the amount or timing of the cashflows. In doing so, management has incorporated the following risks into the VIU, as well as other risks that may impact future cash flows: • execution risks associated with our ‘Reimagine’ strategy and the transition to electrified powertrain, with the supporting transformation plan ‘Refocus 2.0’, which includes a dedicated environmental sustainability strategy – ‘Planet Regenerate’ • near-term supply chain challenges related to global chip shortages which has continued to impact JLR in Fiscal 2023: and • economical and geopolitical factors increasing inflationary pressures, driving up material costs in particular. Climate risk JLR recognises that the potential impact of climate risk to areas such as supply chain, operations, and material and compliance costs may result in variations to the timing and amounts of future cash flows. As such climate risk is incorporated into the development of our forecast cash flows in the VIU by reference to our climate change risk assessment. These risks are principally reflected by the risk adjustments related to the variable profit and volumes which would be most affected by climate change events, for example, scarcity of certain commodities driving up costs and therefore adversely impacting variable profit. Key assumptions The approach and key assumptions used to determine the CGU VIU were as follows: The assessment of impairment is based on forecasts of future cashflows which are inherently uncertain and are developed using informed assumptions such as historical trends and market information. The key assumptions are: (i) the recoverable amount is most sensitive; (ii) involve a significant amount of judgement and estimation; and (iii) drive significant changes to the recoverable amount when flexed under reasonably possible outcomes. • Variable profit per unit and volumes • Terminal value capital expenditure • Discount rate The VIU assessment is sensitive to certain assumptions, such as Sales, General & Administration (“SG&A”) costs, due to the relative total value but involve limited judgement and estimation, and significant changes are not considered reasonably possible, and therefore are not considered to be key assumptions. Similarly, certain assumptions which involve greater judgement and estimation, such as growth rate of 1.7% (2022: 1.7%, 2021: 1.9%), but for which even relatively significant changes have a limited impact on the assessment are not regarded as key assumptions. The value of key assumptions used to calculate the recoverable amount are as follows, presented as a % of Gross Vehicle Revenues (“GVR”) to demonstrate: As at March 31, 2023 2022 2021 Forecast period (Yr 1-5) variable profit* (%GVR) 24.9 % 24.4 % 24.0 % Pre-tax 15.6 % 13.4 % 13.6 % Terminal value variable profit (%GVR)* 23.2 % 24.8 % 21.4 % Terminal value capital expenditures (%GVR) 8.1 % 10.0 % 8.9 % * Based on forecast variable profit per unit and volumes Sensitivity to reasonably possible changes to key assumptions Given the inherent uncertainty about the timing and amount of any change in key assumptions, as well as the significant portion of the recoverable amount related to the VIU terminal value, management consider a net impact on terminal period cash flows to be the best means of indicating the sensitivity of key assumptions. JLR considers the variable profit and volumes assumptions to be interdependent as movement in one assumption will impact the other, impacting the overall variable profit. For example, the profit optimisation efforts discussed above will likely result in higher average variable profit per unit with lower volumes whereas a focus on volumes would likely see a reduction in the average variable profit per unit. Consequently, the terminal value variable profit sensitivity below incorporates sensitivity in volumes via the impact on variable profit. The table below shows the amount by which the value assigned to the key assumptions must change for the recoverable amount of the CGU to be equal to its carrying amount: As at March 31, 2023 2022 2021 % Change % Change % Change Forecast period (Yr 1-5) variable profit* (%GVR) -6.0 % -3.1 % -12.7 % Pre-tax 31.4 % 8.7 % 39.2 % Terminal value variable profit (%GVR) -5.5 % -2.1 % -10.1 % Terminal value capital expenditures (%GVR) 17.5 % 5.8 % 24.4 % In each of the four scenarios above, the sensitivity has been performed in isolation with all other assumptions remaining constant. The prior year comparatives have been restated to reflect the amount by which the pre-tax values (previously post-tax) of the assumptions would need to change for the recoverable amount to be equal to the CGU. |
Impairment losses_(reversal) fo
Impairment losses/(reversal) for Passenger Vehicle segment and other provisions | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Impairment losses/(reversal) for Passenger Vehicle segment and other provisions | 18. Impairment losses/(reversal) for Passenger Vehicle segment and other provisions (a) Impairment of Passenger Vehicle segment The Company tests its passenger vehicle cash generating unit (CGU) for impairment at least annually and more frequently when there is an indication of impairment. An impairment loss is recognized if the recoverable amount is lower than the carrying value. The company also periodically assesses if there are any triggers for reversal of previously recognised impairment loss. A reversal of impairment loss is recognised if there is a trigger for reversal and the recoverable value exceeds the carrying value. As at March 31, 2021, the Company identified certain triggers for reversal of the previously recorded impairment based on both external and internal indicators. Accordingly, the Company reassessed its estimates and determined the recoverable value for this CGU considering the significant improvement in the performance and outlook of the business when compared with the assumed performance at the time when the impairment loss was recorded. Based on this reassessment, the Company has reversed the initially recognised impairment for this CGU. The key drivers for this improved performance include: 1 New and Improved product portfolio 2 Product positioning in segments where the Company did not have a presence earlier 3 Revamp of dealer and service network 4 Capacity de-bottlenecking 5 Cost reduction initiatives In addition to the above, the post COVID pent up demand was a tailwind and the changing consumer preference towards personal mobility as well as changes to the economic outlook have improved the outlook on the industry. A combination of these factors enabled the Company to enhance it’s market share to 8.1% for the year ended March 31, 2021. The recoverable value was determined using the Fair value less cost of disposal (“FVLCD”). CGU’s FVLCD has been valued using Comparable Company Market Multiple method (CCM). The average of enterprise value to sales multiple of Comparable Companies applied to actual sales of the CGU for year ended March 31, 2021 has been considered as the FVLCD as per CCM. The fair value of the CGU is as follows: As at March 31, 2021 (in millions) Recoverable amount 146,186.0 The approach and key (unobservable) assumptions used to determine the CGU’s FVLCD were as follows: The carrying value of the CGU was Rs.49,109.9 million as at March 31, 2021, compared with the recoverable value of Rs.146,186.0 million, determined by FVCLD and Rs.105,880.0 million as per VIU. As at March 31, 2021 Enterprise value to Sales multiple 1.27 The impairment loss recognised was subsequently reversed in the year ended March 31, 2021 was as follows: As at March 31, 2021 (in millions) Property, plant and equipment (refer note 13) (1,881.3 ) Right of use assets (refer note 14) (120.5 ) Other intangible assets (refer note 16) (1,711.7 ) Total (3,713.5 ) Sensitivity to key assumptions The change in the following assumptions used in the impairment review would, in isolation, lead to a change in FVCLD as at March 31, 2021 (although it should be noted that these sensitivities do not take account of potential mitigating actions): As at March 31, 2021 (in millions) Decrease in Enterprise value (EV) to Sales multiple by 10% 14,618.6 (b) Other provisions As at March 31, 2021, the Company has reassessed the onerous provision created and based on revised volume projection a reversal of provision aggregating million has been accounted and also made provision for estimated supplier claims of million. During the year ended March 31, 2023, the company completed the negotiations and accordingly reversed Rs.610.3 million and transferred the balance provision to liability. Reversal of Impairment in subsidiaries As part of slump sale (passenger vehicle undertaking), the investments in both these subsidiaries have been transferred to Tata Motors Passenger Vehicle Limited, a wholly owned subsidiary of the Company, w.e.f. January 1, 2022. These subsidiaries have been transferred to Tata Passenger Electric Mobility Ltd., a wholly owned subsidiary of the Company. Considering the business plans for these subsidiaries, the Company reassessed the recoverable value of assets belonging to Tata Motors European Technical Centre PLC (TMETC) and accordingly provision for impairment towards the assets is reversed amounting to Rs.2,143.9 million (£23.57 million). During March 31, 2022, the Company reassessed the recoverable value of TMETC business and accordingly reversed the provision of impairment of |
Investments in equity accounted
Investments in equity accounted investees | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Investments in equity accounted investees | 19. Investments in equity accounted investees: (a) Associates: The Company has no material associates as at March 31, 2023. The aggregate summarized financial information in respect of the Company’s immaterial associates that are accounted for using the equity method is set forth below. As at March 31, 2023 2023 2022 (In millions) Carrying amount of the Company’s interest in associates US$ 161.8 Rs. 13,298.1 Rs. 11,598.1 Year ended March 31, 2023 2023 2022 2021 (In millions) Company’s share of profit/(loss) in associates * US$ 23.4 Rs. 1,920.3 Rs. 1,314.0 Rs. (164.1 ) Company’s share of other comprehensive income in associates — (3.4 ) 51.4 48.9 Company’s share of total comprehensive income in associates US$ 23.3 Rs. 1,916.9 Rs. 1,365.4 Rs. (115.2 ) Fair value of investment in an equity accounted associate for which published price quotation is available, which is a level 1 input, was Rs.2,189.5 million and Rs.2,830.7 million as at March 31, 2023 and 2022, respectively. The carrying amount as at March 31, 2023 and 2022, was Rs.1,513.1 million and Rs.1,407.2 million, respectively. (b) Joint ventures: (i) Details of the Company’s material joint venture as at March 31, 2023 are as follows: Principal place of the business % holding Name of joint venture Principal activity 2023 2022 Chery Jaguar Land Rover Automotive Co. Limited (Chery) Manufacture and assembly of vehicles China 50 % 50 % Chery is a limited liability company, whose legal form confers separation between the parties to the joint arrangement. There is no contractual arrangement or any other facts and circumstances that indicate that the parties to the joint venture have rights to the assets and obligations for the liabilities of the joint arrangement. Accordingly, Chery is classified as a joint venture. Chery is not publicly listed. The following tables sets out the summarised financial information of Chery after adjusting for material differences in accounting policies: As at March 31, 2023 2023 2022 (In millions) Current assets US$ 802.3 Rs. 65,924.5 Rs. 62,539.3 Non-current 1,566.7 128,735.4 143,432.4 Current liabilities (1,454.1 ) (119,480.2 ) (137,225.3 ) Non-current (91.2 ) (7,495.8 ) (4,216.6 ) Total net assets of material joint venture 823.7 67,683.9 64,529.8 The above amounts of assets and liabilities include the following: Cash and cash equivalents 490.3 40,287.9 38,874.2 Current financial liabilities (excluding trade and other payables and provisions) (419.5 ) (34,471.9 ) (44,411.1 ) Other consolidation adjustments (5.9 ) (484.8 ) (468.2 ) Non-current (88.0 ) (7,230.6 ) (3,845.0 ) Share of net assets of material joint venture 411.9 33,842.0 32,264.9 Carrying amount of the Company’s interest in joint venture US$ 406.0 Rs. 33,357.2 Rs. 31,796.7 Year ended March 31, 2023 2023 2022 2021 (In millions) Revenue US$ 1,969.3 Rs. 161,814.2 Rs. 169,884.5 Rs. 180,580.0 Net income/(loss) 34.8 2,856.1 (3,695.9 ) (8,220.9 ) Total comprehensive income for the year 34.8 2,856.1 (3,695.9 ) (8,220.9 ) The above net income includes the following: Depreciation and amortization 206.3 16,953.9 18,423.7 19,898.1 Interest income (11.9 ) (979.9 ) (508.9 ) (720.8 ) Interest expense (net) 16.9 1,386.5 1,730.4 2,030.8 Income tax credit/(expenses) US$ 12.7 Rs. 1,045.6 Rs. 2,035.8 Rs. 3,060.7 Reconciliation of above summarized financial information to the carrying amount of the interest in the joint venture recognized in the consolidated financial statements: As at March 31, 2023 2023 2022 (In millions) Net assets of the joint venture US$ 823.7 Rs. 67,683.9 Rs. 64,529.8 Proportion of the Company’s interest in joint venture 411.9 33,842.0 32,264.9 Other consolidation adjustments (5.9 ) (484.8 ) (468.2 ) Carrying amount of the Company’s interest in joint venture US$ 406.0 Rs. 33,357.2 Rs. 31,796.7 (ii) The aggregate summarized financial information in respect of the Company’s immaterial joint ventures that are accounted for using the equity method is set forth below. Year ended March 31, 2023 2023 2022 2021 (In millions) Carrying amount of the Company’s interest in immaterial joint ventures US$ 1.2 Rs. 101.3 Rs. 99.1 Rs. 100.4 Year ended March 31, 2023 2023 2022 2021 (In millions) Company’s share of profit/(loss) in immaterial joint ventures* US$ — Rs. — Rs. — Rs. — Company’s share of other comprehensive income in immaterial joint ventures — 2.2 (1.3 ) 1.5 Company’s share of total comprehensive income in immaterial joint ventures US$ — Rs. 2.2 Rs. (1.3 ) Rs. 1.5 (c) Summary of carrying amount of the Company’s interest in equity accounted investees: As at March 31, 2023 2023 2022 (In millions) Carrying amount in immaterial associates US$ 161.8 Rs. 13,298.1 Rs. 11,598.1 Carrying amount in material joint venture 406.0 33,357.2 31,796.7 Carrying amount in immaterial joint venture 1.2 101.3 99.1 US$ 569.0 Rs. 46,756.6 Rs. 43,493.9 (d) Summary of Company’s share of profit/(loss) in equity accounted investees: Year ended March 31, 2023 2023 2022 2021 (In millions) Share of profit/(loss) in immaterial associates US$ 23.4 Rs. 1,920.3 Rs. 1,314.0 Rs. (164.1 ) Share of profit/(loss) in material joint venture 17.3 1,428.1 (1,848.0 ) (4,110.5 ) Share of profit/(loss) on other adjustments in material joint venture 0.2 15.4 (206.6 ) 485.0 US$ 40.9 Rs. 3,363.8 Rs. (740.6 ) Rs. (3,789.6 ) (e) Summary of Company’s share of other comprehensive income in equity accounted investees: Year ended March 31, 2023 2023 2022 2021 (In millions) Share of other comprehensive income in immaterial associates US$ 0.8 Rs. 62.9 Rs. 47.7 Rs. 30.2 Currency translation - immaterial associates (0.8 ) (66.3 ) 3.7 18.7 Currency translation - material joint venture 1.4 117.0 2,176.5 1,479.9 Currency translation - immaterial joint ventures — 2.2 (1.3 ) 1.5 US$ 1.4 Rs. 115.8 Rs. 2,226.6 Rs. 1,530.3 * Company’s share of profit/(loss) of the equity accounted investees has been determined after giving effect for the subsequent amortization/depreciation and other adjustments arising on account of fair value adjustments made to the identifiable net assets of the equity accounted investee as at the date of acquisition and other adjustment arising under the equity method of accounting. |
Income taxes
Income taxes | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Income taxes | 20. Income taxes 20A. Accounting policy Income tax expense comprises current and deferred taxes. Income tax expense is recognized in the consolidated income statement except when they relate to items that are recognized outside of profit or loss (whether in other comprehensive income or directly in equity), in which case tax is also recognized outside profit or loss, or where they arise from the initial accounting for a business combination. In the case of a business combination the tax effect is included in the accounting for the business combination. Current income taxes are determined based on respective taxable income of each taxable entity and tax rules applicable for respective tax jurisdictions. Deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying values of assets and liabilities and their respective tax bases, and unutilized business loss and depreciation carry-forwards and tax credits. Such deferred tax assets and liabilities are computed separately for each taxable entity and for each taxable jurisdiction. Deferred tax assets are recognized to the extent it is probable that future taxable income will be available against which the deductible temporary differences, unused tax losses, depreciation carry-forwards and unused tax credits could be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured based on the tax rates that are expected to apply in the period when the asset is realized or the liability is settled, based on the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. Current and Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. The extent to which deferred tax assets can be recognised is based on an assessment of the probability that future taxable income will be available against which the deductible temporary differences and tax loss carry-forwards can be utilised. Deferred tax liabilities on taxable temporary differences arising from investments in subsidiaries, branches and associated companies and interests in joint arrangements are not recognised if the Company is able to control the timing of the reversal and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognised to the extent that it is probable that there will be sufficient taxable profits against which to utilise the benefits of the temporary differences and they are expected to reverse in the foreseeable future. 20B. Income taxes The domestic and foreign components of net income before income tax: Year ended March 31, 2023 2023 2022 2021 (In millions) Net income/(loss) before income taxes India US$ 205.6 Rs. 16,890.6 Rs. (26,380.2 ) Rs. (28,703.4 ) Other than India 222.8 18,310.6 (43,787.1 ) (88,023.9 ) Total US$ 428.4 Rs. 35,201.2 Rs. (70,167.3 ) Rs. (116,727.3 ) The domestic and foreign components of income tax expense: Year ended March 31, 2023 2023 2022 2021 (In millions) Current taxes India US$ 54.4 Rs. 4,469.2 3,397.3 Rs. 1,363.6 Other than India 342.1 28,114.3 23,302.5 15,738.2 Deferred taxes India (182.0 ) (14,962.8 ) (124.3 ) 146.5 Other than India (128.8 ) (10,580.1 ) 15,629.4 8,162.4 Total income tax expense US$ 85.7 Rs. 7,040.6 Rs. 42,204.9 Rs. 25,410.7 The reconciliation of income tax expense calculated as per tax rates applicable to individual entities with income tax expense/(credit) reported in the income statement is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Income/(loss) before income taxes US$ 428.4 Rs. 35,201.2 Rs. (70,167.3 ) Rs. (116,727.3 ) Income tax expense at tax rates applicable to individual entities 125.8 10,340.1 (9,514.7 ) (22,615.8 ) Additional deduction for patent, research and product development cost — — (13.4 ) 16.6 Items (net) not deductible for tax /not liable to tax: - foreign Currency (gain)/loss relating to loans and deposits (net), foreign Currency (gain)/loss arising on account of Integral foreign operations (6.1 ) (498.0 ) (38.3 ) 49.5 - interest and other expenses relating to borrowings for investment 8.8 722.0 638.6 315.7 - Write-down of assets not qualifying for tax relief — — — 4,295.6 - Others (10.7 ) (883.3 ) 1,607.6 634.7 Undistributed earnings of subsidiaries, joint operations and equity accounted investees 73.3 6,022.9 4,072.5 3,109.3 Deferred tax assets not recognized because realization is not probable 84.2 6,921.7 35,281.9 39,658.8 Utilization/credit of unrecognized tax losses, unabsorbed depreciation and other tax benefits (66.6 ) (5,474.5 ) (7,253.4 ) (3,471.6 ) Deferred tax assets recognized on unabsorbed depreciation and others (refer note 3 below) (240.6 ) (19,770.1 ) — — Deferred tax assets recognized on Long term capital loss (18.3 ) (1,504.8 ) — — Previously recognised deferred tax assets written down — — (63.4 ) (1.0 ) Profit on sale of investments in subsidiaries and Others — — — 15.2 Tax on share of (profit)/loss of equity accounted investees (net) 9.2 758.3 (70.1 ) 744.9 Impact of change in rates on moving to new tax regime (refer note 2 below) 63.6 5,223.6 Impact of change in statutory tax rates (refer note below) 2.4 193.2 20.4 929.6 Others 60.7 4,989.5 4,708.0 1,729.2 Profit on sale of passenger vehicle undertaking (Common control transaction) — — 12,829.2 — Income tax expense/(credit) reported in consolidated income statement US$ 85.7 Rs. 7,040.6 Rs. 42,204.9 Rs. 25,410.7 Note: 1 The UK Finance Act 2016 was enacted during the year ended March 31, 2017, which included provisions for a reduction in the UK corporation tax rate to 17% with effect from April 1, 2020. Subsequently a change to the main UK corporation tax rate, announced in 2020, was substantively enacted as at March 31, 2020. The rate applicable from April 1, 2020 now remains at 19% rather than previously enacted reduction to 17%. A further change to the main UK corporation tax rate from 19 to 25 percent with effect from April 1, 2023 was announced in the Budget on March 3 2021, and was substantively enacted on May 24, 2021. Accordingly, JLR UK deferred tax has been provided at a rate of 25% on assets (2022: 25%, 2021: 19%) and 25% on liabilities (2022: 25%, 2021: 19%), recognising the applicable tax rate at the point when the timing difference is expected to reverse. 2 The Parent Company has opted for the New Tax Regime inserted by section 115BAA of the Income Tax Act, 1961 (“Act”) and enacted by the Taxation Laws (Amendment) Ordinance, 2019 (“the Ordinance”) which is applicable from Financial year beginning April 1, 2019. It has accordingly applied the tax rate as applicable under the provision of section 115BAA of the Act, in the financial statement for the year ended March 31, 2023. 3 During the year ended March 31, 2023, the Parent Company recognised Deferred Tax Assets Significant components of deferred tax assets and liabilities for the year ended March 31, 2023 are as follows: Opening Impact of change in tax rates recognised in statement of profit and loss (Refer 2 0 Recognized in profit or loss Recognized in/ reclassified from other comprehensive income MAT Closing balance Other than Translation translation (In millions) Deferred tax assets: Unabsorbed depreciation Rs. 18,589.8 Rs. (7,705.1 ) Rs. 10,415.1 Rs. (1.2 ) Rs. — Rs. — Rs. 21,298.6 Business loss carry forwards (3,306.3 ) — 25,877.6 2,169.3 — — 24,740.6 Other tax losses -Long term capital loss — — 1,504.8 — — — 1,504.8 Expenses deductible in future years: — Provisions, allowances for doubtful receivables and others 31,457.2 (1,130.5 ) (1,699.9 ) 251.2 0.1 — 28,878.1 Compensated absences and retirement benefits (8,288.0 ) (423.4 ) (4,293.9 ) (789.8 ) 397.7 — (13,397.4 ) Minimum alternate tax carry-forward 508.6 — 1,884.5 — — (1,248.0 ) 1,145.1 Property, plant and equipment 108,268.9 — (30,273.1 ) (832.4 ) — — 77,163.4 Derivative financial instruments 13,482.2 (297.9 ) 3,804.0 427.3 (11,660.4 ) — 5,755.2 Unrealized profit on inventory 7,645.1 — 4,052.5 601.2 — — 12,298.8 Others 2,032.5 (278.0 ) 19,818.3 1,952.4 52.4 — 23,577.6 Total deferred tax assets Rs. 170,390.0 Rs. (9,834.9 ) Rs. 31,089.9 Rs. 3,778.0 Rs. (11,210.2 ) Rs. (1,248.0 ) Rs. 182,964.8 Deferred tax liabilities: Property, plant and equipment 11,014.2 (2,851.3 ) 2,517.2 0.8 — — 10,680.9 Intangible assets 113,435.6 (1,720.7 ) (5,143.5 ) 1,956.6 — — 108,528.0 Undistributed earnings in subsidiaries, joint operations and equity accounted investees 18,041.7 2,210.5 1,304.1 * 380.0 — — 21,936.3 Fair valuation of retained interest in a subsidiary subsequent to disposal of controlling equity interest 169.5 — — — — — 169.5 Others 4,604.7 (484.8 ) (119.4 ) 7.3 (134.9 ) 3,872.9 Total deferred tax liabilities Rs. 147,265.7 Rs. (2,846.2 ) Rs. (1,441.6 ) Rs. 2,344.7 Rs. (134.9 ) Rs. — Rs. 145,187.6 Net assets/(liabilities) Rs. 23,124.3 Rs. (6,988.7 ) Rs. 32,531.5 Rs. 1,433.3 Rs. (11,075.3 ) Rs. (1,248.0 ) Rs. 37,777.2 US$ 281.4 US$ (85.1 ) US$ 395.9 US$ 17.4 US$ (134.8 ) US$ (15.2 ) US$ 459.7 Deferred tax assets Rs. 51,846.7 Deferred tax liabilities Rs. (14,069.5 ) Deferred tax assets US$ 630.8 Deferred tax liabilities US$ (171.2 ) * Net of Rs.2,508.3 million reversed on dividend distribution by subsidiaries. As at March 31, 2023, unrecognized deferred tax assets amount to Rs which can be carried forward indefinitely and up to a specified period, respectively. These relate primarily to depreciation carry forwards, other deductible temporary differences and business losses. The deferred tax asset has not been recognized on the basis that its recovery is not probable in the foreseeable future. Unrecognized deferred tax assets expire unutilized based on the year of origination as follows: March 31, In millions 2024 US$ 6.4 Rs. 526.9 2025 63.8 5,245.7 2026 5.5 450.4 2027 39.2 3,222.1 2028 102.5 8,424.3 Thereafter US$ 122.9 Rs. 10,094.8 The Company has not recognized deferred tax liability on undistributed profits of certain subsidiaries amounting to Rs.281,772.0 million and Rs.287,357.3 million as at March 31, 2023 and 2022, respectively, because it is able to control the timing of the reversal of temporary differences associated with such undistributed profits and it is probable that such differences will not reverse in the foreseeable future. Significant components of deferred tax assets and liabilities for the year ended March 31, 2022 are as follows: Opening balance Recognized in profit or loss Recognized in/ reclassified from other comprehensive income Movement due to Closing Translation Other than (In millions) Deferred tax assets: Unabsorbed depreciation Rs. 20,906.9 Rs. (1,543.1 Rs. — Rs. — Rs. (774.0 18,589.8 Business loss carry forwards 18,642.3 (4,817.7 ) 160.4 — (17,291.3 ) (3,306.3 ) Expenses deductible in future years: — Provisions, allowances for doubtful receivables and others 34,812.9 (3,565.3 ) 932.1 0.8 (723.3 ) 31,457.2 Compensated absences and retirement benefits 9,645.5 (9,207.0 ) 3,315.5 (12,042.0 ) — (8,288.0 ) Minimum alternate tax carry-forward 0.5 508.1 — — — 508.6 Property, plant and equipment 77,331.0 33,285.7 (2,347.8 ) — — 108,268.9 Derivative financial instruments (1,162.3 ) (3,077.7 ) (5,902.0 ) 23,624.2 — 13,482.2 Unrealized profit on inventory 10,748.9 (3,082.0 ) (21.8 — — 7,645.1 Others 7,268.4 (5,396.3 ) 119.7 53.2 (12.5 ) 2,032.5 Total deferred tax assets Rs. 178,194.1 Rs. 3,104.7 Rs. (3,743.9 ) Rs. 11,636.2 Rs. (18,801.1 ) 170,390.0 Deferred tax liabilities: Property, plant and equipment Rs. 15,607.5 Rs. 580.7 1.2 — (5,175.2 ) 11,014.2 Intangible assets 112,705.2 16,317.2 (1,960.9 ) — (13,625.9 ) 113,435.6 Undistributed earnings in subsidiaries, joint operations and equity accounted investees 17,643.0 520.0 * (121.3 ) — — 18,041.7 Fair valuation of retained interest in a subsidiary subsequent to disposal of controlling equity interest 169.5 — — — — 169.5 Others 2,424.3 1,191.9 (2.7 ) 991.2 4,604.7 Total deferred tax liabilities Rs. 148,549.5 Rs. 18,609.8 Rs. (2,083.7 ) 991.2 Rs. (18,801.1 ) 147,265.7 Net assets/(liabilities) Rs. 29,644.6 Rs. (15,505.1 ) Rs. (1,660.2 ) Rs. 10,645.0 Rs. — 23,124.3 Deferred tax assets Rs. 38,708.7 Deferred tax liabilities Rs. (15,584.4 ) * Net of Rs.3,552.5 million reversed on dividend distribution by subsidiaries. ** Tata Motors Limited has transferred its Passenger Vehicle Business into a subsidiary. This has resulted in movement of balances at Parent Company. Significant components of deferred tax assets and liabilities for the year ended March 31, 2021 are as follows: Opening Recognized in Recognized in/ reclassified from other comprehensive income Closing balance Translation Other than translation (In millions) Deferred tax assets: Unabsorbed depreciation Rs. 21,867.5 Rs. (944.5 ) Rs. (16.0 ) Rs. (0.1 ) Rs. 20,906.9 Business loss carry forwards 30,926.7 (12,606.6 322.2 — 18,642.3 Expenses deductible in future years: — Provisions, allowances for doubtful receivables and others 44,213.1 (9,714.9 ) 314.5 0.2 34,812.9 Compensated absences and retirement benefits (4,177.3 ) (143.5 ) (1,105.2 ) 15,071.5 9,645.5 Minimum alternate tax carry-forward 671.5 (671.0 ) — — 0.5 Property, plant and equipment 59,417.5 12,223.9 5,689.6 — 77,331.0 Derivative financial instruments 7,756.6 1,779.4 1,057.0 (11,755.3 ) (1,162.3 ) Unrealized profit on inventory 12,167.2 (2,171.8 ) 753.5 — 10,748.9 Others 15,337.1 (8,369.6 ) 316.8 (15.9 ) 7,268.4 Total deferred tax assets Rs. 188,179.9 Rs. (20,618.6 ) Rs. 7,332.4 Rs. 3,300.4 Rs. 178,194.1 Deferred tax liabilities: Property, plant and equipment 12,967.2 2,640.9 (0.6 ) — 15,607.5 Intangible assets 121,935.8 (15,651.6 ) 6,421.0 — 112,705.2 Undistributed earnings in subsidiaries, joint operations and equity accounted investees 15,881.7 952.7 * 808.6 — 17,643.0 Fair valuation of retained interest in a subsidiary subsequent to disposal of controlling equity interest 169.5 — — — 169.5 Others 2,065.8 (251.7 ) (6.9 ) 617.1 2,424.3 Total deferred tax liabilities Rs. 153,020.0 Rs. (12,309.7 ) Rs. 7,222.1 Rs. 617.1 Rs. 148,549.5 Net assets/(liabilities) Rs. 35,159.9 Rs. (8,308.9 ) Rs. 110.3 Rs. 2,683.3 Rs. 29,644.6 Deferred tax assets Rs. 45,203.5 Deferred tax liabilities Rs. (15,558.9 ) * Net of Rs.2,156.6 million reversed on dividend distribution by subsidiaries. |
Debt
Debt | 12 Months Ended |
Mar. 31, 2023 | |
Short-term borrowings and current portion of long-term debt [Member] | |
Statement [line items] | |
Debt | 21. Short-term borrowings and current portion of long-term debt Short-term borrowings and current portion of long-term debt consist of the following: As at March 31, 2023 2023 2022 (In millions) Commercial paper US$ 589.8 Rs. 48,466.2 Rs. 58,571.8 Loans from banks/financial institutions 1,116.1 91,722.1 112,802.0 Inter-corporate deposits 5.8 480.0 2,410.0 Current portion of long-term debt (refer note 22) 2,786.6 228,978.3 245,394.9 Total US$ 4,498.3 Rs. 369,646.6 Rs. 419,178.7 |
Long-term debt [Member] | |
Statement [line items] | |
Debt | 22. Long-term debt Long-term debt consists of the following: As at March 31, 2023 2023 2022 (In millions) Non-convertible US$ 1,377.3 Rs. 113,174.3 Rs. 131,126.3 Perpetual debentures 212.3 17,440.9 17,182.0 Collateralized debt obligations 9.1 748.7 11,825.4 Buyers credit from banks at floating interest rate 310.3 25,500.0 40,583.7 Loan from banks/financial institutions 5,149.4 423,126.5 439,985.5 Senior notes 6,443.6 529,471.2 576,219.0 Others 77.5 6,366.7 5,956.5 Total 13,579.5 1,115,828.3 1,222,878.4 Less: current portion (refer note 21) 2,786.6 228,978.3 245,394.9 Long-term debt US$ 10,792.9 Rs. 886,850.0 Rs. 977,483.5 As at March 31, 2023, Short-term and long-term debt includes secured borrowings of Rs.22,933.9 million (Rs . Following assets are pledged as collateral/security against the borrowings: As at March 31, 2023 2023 2022 (In millions) Other current assets (i.e. Inventory and Trade receivables) US$ 23.0 Rs. 1,892.2 Rs. 8,078.8 Finance receivables 2,770.7 227,666.9 254,877.3 Property, plant and equipment 276.4 22,712.9 58,287.8 Total US$ 3,070.1 Rs. 252,272.0 Rs. 321,243.9 Collateralized debt obligations Collateralised debt obligation represent amount received against finance receivables securitised/assigned, which does not qualify for derecognition. The repayments are due from financial year ending March 31, 2025 to March 31, 2026. Non-convertible The interest rate on non-convertible Perpetual debentures Perpetual debenture amounting to Rs.17,440.9 million included within long-term borrowing in note 22 bear interest rate ranging from 7.30% to 8.75% having simultaneous call/put option after 4/5th year from the date of issuance. Buyers credit The buyers line of credit from banks is repayable within seven years from drawdown dates. Loan from banks / financial institutions Certain of the Company’s loans set limits on and/or require prior lender consent for, among other things, undertaking new projects, issuing new securities, changes in management, mergers, sale of undertakings and investment in subsidiaries. In addition, certain negative covenants may limit Company’s ability to borrow additional funds or to incur additional liens, and/or provide for increased costs in case of breach. Certain of the financing arrangements also include financial covenants to maintain certain debt-to-equity debt-to-earnings Long term loans from banks / financial institutions maturity is ranging from April 2023 to October 2027. Floating Interest rates are based on marginal cost of funds lending rate (MCLR) and LIBOR. A reform of major interest rate benchmarks is being undertaken globally, including the replacement of some interbank offered rates (‘IBORs’) with alternative risk-free rates (‘RFR’) i.e. SONIA. There is no impact of interest rate benchmark reform as at March 31, 2023. This transition will take place in Fiscal 2024. Commercial Paper Commercial paper are unsecured short term papers issued at discount bearing no coupon interest. The yield on commercial paper issued by the Company ranges from 6.70% to 8.65%. Senior notes (Euro MTF listed debt) JLR Entry The senior notes of Jaguar Land Rover Automotive Plc (JLR) are listed on the Euro MTF market, which is a listed market regulated by the Luxembourg Stock Exchange. Details of the tranches of the senior notes outstanding at March 31, 2023 are as follows: Issued on Currency Initial Principal (in millions) Outstanding (in millions) Outstanding (In millions) As at March 31, 2023 2022 Interest rate Redeemable on January 2013 USD 500 500 Rs. — Rs. 37,769.2 5.625 % February 2023 February 2015 GBP 400 400 — 39,715.3 3.875 % March 2023 January 2017 EUR 650 650 58,069.0 * 54,727.3 2.200 % January 2024 October 2017 USD 500 500 40,863.9 37,617.3 4.500 % March 2027 October 2018 EUR 500 500 31,090.9 35,370.2 4.500 % January 2026 November 2019 EUR 500 500 44,568.9 41,981.2 5.875 % November 2024 November 2019 EUR 500 500 45,007.7 42,561.9 6.875 % November 2026 October 2020 USD 700 700 57,153.3 52,552.8 7.750 % October 2025 December 2020 USD 650 650 52,982.4 48,745.8 5.875 % January 2028 July 2021 EUR 500 500 40,807.5 37,567.2 5.500 % July 2029 July 2021 EUR 500 500 44,439.8 41,894.3 4.500 % July 2028 Total Rs. 414,983.4 Rs. 470,502.5 * Classified as other current liabilities being maturity before March 31, 2024. These senior notes are subject to customary covenants and events of default, which include, among other things, restrictions or limitations on the amount of cash which can be transferred outside the Jaguar Land Rover group of companies in the form of dividends, loans or investments. Senior notes (SGX-ST The senior notes of Tata Motors Limited and TML Holdings Pte Ltd are listed on the SGX-ST Issued on Currency Initial amounts (in millions) Outstanding Principal (in millions) Outstanding (In millions) Interest rate Redeemable on As at March 31, 2023 2022 October 2014 USD 250 250 Rs. 20,494.7 Rs. 18,768.6 5.750 % October 2024 June 2021 USD 425 425 34,862.8 31,994.6 4.350 % June 2026 November 2019 USD 300 300 24,592.4 22,739.3 5.875 % May 2025 July 2020 GBP 98 98 9,878.3 9,601.9 4.000 % July 2023 October 2020 USD 300 300 24,659.6 22,612.5 5.500 % June 2024 Total Rs. 114,487.8 Rs. 105,716.9 Reconciliation of movements of liabilities to cash flows arising from financing activities: Short-term Long-term Total Balance at April 1, 2021 Rs. 427,917.4 Rs. 931,019.7 Rs. 1,358,937.1 Proceeds from issuance of debt 168,967.8 315,212.0 484,179.8 Repayment of debt (214,360.4 ) (233,558.0 ) (447,918.4 ) Reclassification of debt 34,104.4 (34,104.4 ) — Foreign exchange (822.4 ) (5,077.1 ) (5,899.5 ) Amortisation / EIR adjustment of prepaid borrowing costs (net) 3,371.9 3,991.3 7,363.2 Balance at March 31, 2022 Rs. 419,178.7 Rs. 977,483.5 Rs. 1,396,662.2 Proceeds from issuance of debt 281,254.5 165,619.3 446,873.8 Repayment of debt (317,515.5 ) (315,594.6 ) (633,110.1 ) Reclassification of debt (16,416.9 ) 16,416.9 — Foreign exchange 1,613.6 41,052.3 42,665.9 Amortisation / EIR adjustment of prepaid borrowing costs (net) 1,532.2 1,872.6 3,404.8 Balance at March 31, 2023 Rs. 369,646.6 Rs. 886,850.0 Rs. 1,256,496.6 US$ 4,498.6 US$ 10,792.9 US$ 15,291.4 |
Other financial liabilities
Other financial liabilities | 12 Months Ended |
Mar. 31, 2023 | |
Other financial liabilities - current [Member] | |
Statement [line items] | |
Other financial liabilities | 23. Other financial liabilities – current Other current financial liabilities consist of the following: As at March 31, 2023 2023 2022 (In millions) Liability towards vehicles sold under repurchase arrangements US$ 367.8 Rs. 30,220.1 Rs. 26,581.4 Interest accrued but not due 204.0 16,764.9 17,468.0 Lease liabilities (Refer note 14) 107.7 8,844.8 8,095.4 Derivative financial instruments 533.3 43,822.3 44,434.2 Others 95.9 7,876.5 5,970.4 Total US$ 1,308.6 Rs. 107,528.6 Rs. 102,549.4 |
Other financial liabilities - non-current [Member] | |
Statement [line items] | |
Other financial liabilities | 24. Other financial liabilities – non-current Other financial liabilities non-current As at March 31, 2023 2023 2022 (In millions) Lease liabilities (Refer note 14) US$ 921.1 Rs. 75,684.9 Rs. 59,624.4 Derivative financial instruments 655.2 53,841.0 34,155.4 Liability towards employee separation scheme 10.8 890.1 1,095.0 Compulsorily convertible preference shares - liability portion 304.2 25,000.0 12,500.0 Others 42.6 3,500.0 5,593.8 Total US$ 1,934.0 Rs. 158,916.0 Rs. 112,968.6 |
Provisions
Provisions | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Provisions | 25. Provisions 25A. Accounting policy A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. When the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows using a pre-tax i) Product warranty expenses The estimated liability for product warranties is recognized when products are sold or when new warranty programmes are initiated. These estimates are established using historical information on the nature, frequency and average cost of warranty claims and management estimates regarding possible future warranty claims, customer goodwill and recall complaints. The timing of outflows will vary depending on when warranty claim will arise, being typically up to six years and for batteries in Electric Vehicles warranty period is typically upto eight years. The Company also has back-to-back ii) Provision for onerous obligations A provision for onerous contracts is recognized when the expected benefits to be derived by the Company from a contract are lower than the unavoidable costs of meeting its obligations under the contract. It is recognized when the Company has entered into a binding legal agreement for the purchase of components from suppliers that exceeds the benefits from the expected future use of the components and the Company sells the finished goods using the components at a loss. iii) Residual risk In certain markets, the Company is responsible for the residual risk arising on vehicles sold by dealers under leasing arrangements. The provision is based on the latest available market expectations of future residual value trends. The timing of the outflows will be at the end of the lease arrangements – being typically up to three years. The potential effects of the COVID-19 iv) Legal and product liability Legal and product liability provision is recorded in respect of compliance with regulations and known litigations which impact the Company. The product liability claim primarily relates to motor accident claims, consumer complaints, dealer/supplier terminations, personal injury claims and compliance with emission and battery disposal regulations. The timing of outflows will vary depending on when claims are received and settled, which is not known with certainty. The assumptions made, especially the assumption about the outcome of legal proceedings, are subject to a high degree of uncertainty. The appropriateness of assumptions is regularly reviewed, based on assessments undertaken both by management and external experts, such as lawyers. If new developments arise in the future that result in a different assessment, provisions are adjusted accordingly. v) Environmental liability Environmental liability relates to various environmental remediation cost such as asbestos removal and land clean up. The timing of when these costs will be incurred is not known with certainty. vi) Restructuring provision The estimated liability for restructuring activities is recognised when the Company has reason to believe there is a legal or constructive obligation arising from restructuring actions taken. This includes amounts payable to employees and legal and constructive obligations made to third parties following the announcement of the Jaguar Land Rover’s Reimagine strategy in the year ending March 31, 2021. The amount provided at the reporting date is calculated based on currently available facts and certain estimates for third party obligations. These estimates are established using historical experience based on the settlement costs for similar liabilities, with proxies being used where no direct comparison exists. The amounts and timing of outflows will vary as and when restructuring obligations are progressed with third parties. 25B. Provisions consist of the following: As at March 31, 2023 2023 2022 (In millions) Current Product warranty US$ 946.2 Rs. 77,752.5 Rs. 67,808.8 Legal and product liability 461.6 37,922.7 25,046.5 Provision for residual risk 11.1 912.5 1,217.5 Provision for environmental liability 7.2 593.8 289.2 Provision for onerous contracts — — 1,179.0 Restructuring Provision 4.3 356.2 11,036.2 Employee related and other provisions 6.9 568.9 1,087.4 * Total-Current US$ 1,437.3 Rs. 118,106.6 Rs. 107,664.6 Non-current Product warranty US$ 1,304.2 R s. 107,166.0 Rs. 109,527.6 Legal and product liability 92.7 7,616.7 3,968.0 Provision for residual risk 9.9 813.0 1,930.5 Provision for environmental liability 32.3 2,658.7 2,258.6 Employee benefits obligations 155.1 12,743.6 11,187.3 Other provisions 11.8 968.5 686.9 Total-Non-current US$ 1,606.0 Rs. 131,966.5 Rs. 129,558.9 * Includes provision towards employee claims in foreign subsidiaries. Year ended March 31, 2023 2023 2023 2023 2023 2023 Product Warranty Legal and product liability Restructuring provision (In millions) Balance at the beginning US$ 2,158.1 Rs. 177,336.5 US$ 353.1 Rs. 29,014.5 US$ 134.3 Rs. 11,036.2 Provision made during the year 1,100.4 90,421.9 792.4 65,109.8 2.6 216.3 Provision used during the year (1,068.0 ) (87,761.3 ) (627.2 ) (51,533.5 ) (129.3 ) (10,627.3 ) Impact of unwind of discounting 13.1 1,077.6 — — — — Currency translation 46.8 3,843.8 36.0 2,948.6 (3.3 ) (269.0 ) Balance at the end US$ 2,250.4 Rs. 184,918.5 US$ 554.3 Rs. 45,539.4 US$ 4.3 Rs. 356.2 Current US$ 946.2 Rs. 77,752.5 US$ 461.6 Rs. 37,922.7 US$ 4.3 Rs. 356.2 Non-current US$ 1,304.2 Rs. 107,166.0 US$ 92.7 Rs. 7,616.7 US$ — Rs. — Year ended March 31, 2023 2023 2023 2023 2023 2023 Onerous Contract Provision for residual risk Provision for (In millions) Balance at the beginning US$ 14.3 Rs. 1,179.0 US$ 38.2 Rs. 3,148.0 US$ 31.0 Rs. 2,547.8 Provision made/(reversed) during the year (5.2 ) (426.5 ) (18.3 ) (1,503.1 ) 9.2 760.0 Provision used during the year (1.7 ) (141.5 ) 0.2 8.3 (1.8 ) (143.8 ) Currency translation — — 0.9 72.3 1.1 88.5 Transfer to Liabilities (7.4 ) (611.0 ) — — — — Balance at the end US$ — Rs. — US$ 21.0 Rs. 1,725.5 US$ 39.5 Rs. 3,252.5 Current US$ — Rs. — US$ 11.1 Rs. 912.5 US$ 7.2 Rs. 593.8 Non-current US$ — Rs. — US$ 9.9 Rs. 813.0 US$ 32.3 Rs. 2,658.7 |
Other current liabilities
Other current liabilities | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Other current liabilities | 26. Other current liabilities Other current liabilities consist of the following: As at March 31, 2023 2023 2022 (In millions) Contract liabilities (refer note 27 below) US$ 764.7 Rs. 62,838.5 Rs. 65,586.5 Statutory dues 463.0 38,041.7 41,437.5 Others 17.5 1,434.7 1,218.0 Total US$ 1,245.2 Rs. 102,314.9 Rs. 108,242.0 Statutory dues include goods and services tax, sales tax, excise duty and other taxes payable. |
Other liabilities - non-current
Other liabilities - non-current | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Other liabilities - non-current | 27. Other liabilities - non-current Other liabilities non-current As at March 31, 2023 2023 2022 (In millions) Employee benefit obligations US$ 34.1 Rs. 2,798.6 Rs. 3,237.4 Contract liabilities (refer note below) 723.1 59,421.8 45,359.0 Others 18.6 1,525.6 1,389.6 Total US$ 775.8 Rs. 63,746.0 Rs. 49,986.0 Note: (a) Statement showing movement of contract liabilities is as follows: Year ended March 31, 2021 2023 2023 2022 (In millions) Opening contract liabilities US$ 1,350.2 Rs. 110,945.5 Rs. 105,836.3 Amount recognized in revenue during the year (698.4 ) (57,391.1 ) (46,061.9 ) Amount received in advance during the year 815.5 67,019.3 53,721.2 Amount refunded to customers during the year (2.3 ) (188.4 ) (1,522.0 ) Currency translation 22.8 1,875.0 (1,028.1 ) Balance at the end US$ 1,487.8 Rs. 122,260.3 Rs. 110,945.5 Performance obligations in respect of amount received for future maintenance service and extended warranty will be fulfilled over a period of 6 years upto March 31, 2029. (b) Contract liabilities comprise of the following As at March 31, 2023 2023 2022 (In millions) Advances received from customers - current US$ 353.1 Rs. 29,015.9 Rs. 34,972.3 Deferred revenue - current 411.6 33,822.6 30,614.2 Deferred revenue -Non-current 723.1 59,421.8 45,359.0 Total contract liabilities US$ 1,487.8 Rs. 122,260.3 Rs. 110,945.5 |
Equity
Equity | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Equity | 28. Equity Ordinary shares and ‘A’ Ordinary shares The movement of number of shares and share capital is as follows: Year ended March 31, Year ended March 31, 2023 2022 2021 Ordinary shares ‘A’ Ordinary shares Ordinary shares ‘A’ Ordinary shares Ordinary shares ‘A’ Ordinary shares No. of shares (In No. of (In No. of shares (In No. of (In No. of shares (In No. of (In Shares at the beginning 3,320,662,007 Rs. 6,641.8 508,502,896 Rs. 1,017.0 3,320,307,765 Rs. 6,641.1 508,502,896 Rs. 1,017.0 3,088,973,894 Rs. 6,178.4 508,502,896 Rs. 1,017.0 Shares issued on exercise of stock options by employees 682,318 1.4 — — 354,242 0.7 — — — — — — Shares issued under Preferential allotment (refer note below) — — — — — — — — 231,333,871 462.7 — — Allotment of shares held in abeyance # — — — — — — — — — — — — Shares at the end 3,321,344,325 Rs. 6,643.2 508,502,896 Rs. 1,017.0 3,320,662,007 Rs. 6,641.8 508,502,896 Rs. 1,017.0 3,320,307,765 Rs. 6,641.1 508,502,896 Rs. 1,017.0 US$ 80.8 US$ 12.4 # Out of shares held in abeyance - Rights issue of 2001, 2008 and 2015. Note: During the year ended March 31, 2021, on exercise of options by Tata Sons Pvt Ltd and on receipt of the balance subscription money of Rs. 26,025.1 million, the The entitlements to 492,559 Ordinary shares of Rs.2 each (shares as at March 31, 2022 and March 31, 2021: 492,559 Ordinary shares of Rs.2 each) and 233,214 ‘A’ Ordinary shares of Rs.2 each (shares as at March 31, 2022 and March 31, 2021: 233,214 ‘A’ Ordinary shares of Rs.2 each) are subject matter of various suits filed in the courts / forums by third parties for which final order is awaited and hence kept in abeyance. Authorized share capital Authorized share capital includes 4,000,000,000 Ordinary shares of Rs.2 each as at March 31, 2023 (4,000,000,000 Ordinary shares and 4,000,000,000 Ordinary shares of Rs.2 each as at March 31,2022 and 2021 ), 1,000,000,000 ‘A’ Ordinary shares of Rs.2 each as at March 31, 2023 (1,000,000,000 ‘A’ Ordinary shares of Rs.2 each as at March 31,2022 and 2021) and 300,000,000 convertible cumulative preference shares of Rs.100 each as at March 31, 2023 (300,000,000 convertible cumulative preference shares of Rs.100 each as at March 31, 2022 and 2021). Issued and subscribed share capital Shares issued includes partly paid up shares of 570 Ordinary shares of Rs.2 each as at March 31, 2023, 2022 and 2021, respectively. Ordinary shares and ‘A’ Ordinary shares: • The Company has two classes of shares – the Ordinary shares and the ‘A’ Ordinary shares both of Rs.2 each (together referred to as shares). In respect of every Ordinary share (whether fully or partly paid), voting rights shall be in the same proportion as the capital paid up on such Ordinary share bears to the total paid up Ordinary share capital of the Company. In case of every ‘A’ Ordinary share, if any resolution is put to vote on a poll or by postal ballot at any general meeting of shareholders, the holder shall be entitled to one vote for every ten ‘A’ Ordinary shares held as per the terms of its issue and if a resolution is put to vote on a show of hands, the holders of ‘A’ Ordinary shares shall be entitled to the same number of votes as available to holders of Ordinary shares. • Under the provisions of the revised Indian Listing Agreement with domestic Indian Stock Exchanges, every listed company is required to provide its shareholders with the facility to exercise their right to vote, by electronic means, either at a general meeting of the Company or by means of a postal ballot. • The dividend proposed by Tata Motors Limited’s Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. Further, the Board of Directors may also announce an interim dividend which would need to be confirmed by the shareholders at the forthcoming Annual General Meeting. The holders of ‘A’ Ordinary shares shall be entitled to receive dividend for each financial year at five percentage point more than the aggregate rate of dividend declared on Ordinary shares for that financial year. • In the event of liquidation, the shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholdings. American Depositary Shares (ADSs) and Global Depositary Shares (GDSs): The Company notified the New York Stock Exchange (the “NYSE”) on November 9, 2022 of its intent to: (i) voluntarily delist its American Depositary Shares (the “ADSs”), each representing five (5) Ordinary Shares of the Company, par value of Rs.2 per share (the “Ordinary Shares”), from the NYSE; (ii) deregister such ADSs, its Ordinary Shares underlying such ADSs, and its ‘A’ Ordinary Shares, par value of Rs.2 per share, issued in connection with the 2015 rights offering by the Company (“‘A’ Ordinary Shares”, and together with the ADSs and the Ordinary Shares underlying such ADSs, the “Securities”) from the U.S. Securities and Exchange Commission (the “SEC”); and (iii) terminate its reporting obligations under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). Accordingly, the Company filled a Form 25 with the SEC on January 13, 2023 to delist its ADSs from the NYSE and the last trading day of the ADSs on the NYSE was January 23, 2023. Once the Company satisfies the conditions for deregistration, the Company will file a Form 15F with the SEC to deregister the Securities and to terminate its reporting obligations under the Exchange Act. Thereafter, all the Company’s reporting obligations under the Exchange Act will be suspended. The deregistration and termination of its reporting obligations under the Exchange Act is effective ninety (90) days after filing of the Company’s Form 15F. |
Other components of equity
Other components of equity | 12 Months Ended |
Mar. 31, 2023 | |
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Other components of equity | 29. Other components of equity (a) The movement of Currency translation reserve is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 1,077.8 Rs. 88,560.6 Rs. 89,692.0 Rs. 51,422.5 Exchange differences arising on translating the net assets of foreign operations (net) 143.4 11,784.2 (4,756.7 ) 40,454.9 Change in effective portion of hedges of net investment in foreign operations (45.9 ) (3,769.1 ) 1,446.4 (3,685.5 ) Net change in translation reserve - equity accounted investees (net) 0.7 52.9 2,178.9 1,500.1 Balance at the end US$ 1,176.0 Rs. 96,628.6 Rs. 88,560.6 Rs. 89,692.0 (b) The movement of gain/(loss) on Equity instruments held as fair value through other comprehensive income(FVTOCI) is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 94.8 Rs. 7,796.9 Rs. 4,373.5 Rs. 391.0 Other Comprehensive income for the year (16.0 ) (1,317.9 ) 3,953.0 4,206.6 Income tax relating to gain/(loss) recognized on equity investments, where applicable 4.8 394.2 (529.6 ) (180.5 ) Profit on sale of equity investments reclassified to retained earnings — — — (43.6 ) US$ 83.6 Rs. 6,873.2 Rs. 7,796.9 Rs. 4,373.5 (c) The movement of Hedging reserve is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ (727.7 ) Rs. (59,799.0 ) Rs. (1,222.1 ) Rs. (41,937.1 ) Gain/(loss) recognized on cash flow hedges (739.3 ) (60,747.4 ) (84,257.9 ) 38,456.8 Income tax relating to gain/loss recognized on cash flow hedges (10.4 ) (848.6 ) 19,568.5 (7,356.4 ) (Gain)/loss reclassified to profit or loss 728.3 59,842.1 (6,213.7 ) 11,455.9 Income tax relating to gain/loss reclassified to profit or loss (152.7 ) (12,547.3 ) 1,264.3 (2,210.1 ) Amount reclassed from Hedge reserve to Inventory on maturity of inventory hedges 48.0 3,944.6 13,656.7 456.1 Income tax on amount reclassed from Hedge reserve to Inventory on maturity of inventory hedges (9.1 ) (749.6 ) (2,594.8 ) (87.3 ) Balance at the end US$ (862.9 ) Rs. (70,905.2 ) Rs. (59,799.0 ) Rs. (1,222.1 ) Of the above balance related to: Continued hedges (851.2 ) (69,945.1 ) (58,838.9 ) (516.8 ) Discontinued hedges (11.7 ) (960.1 ) (960.1 ) (705.4 ) (d) The movement of Cost of Hedging reserve is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 10.5 Rs. 864.3 Rs. (6.1 ) Rs. (4,428.7 ) Gain/(loss) recognized on cash flow hedges (150.5 ) (12,364.5 ) 1,603.0 5,791.9 Income tax relating to gain/loss recognized on cash flow hedges 17.0 1,399.3 (243.3 ) (1,169.8 ) (Gain)/loss reclassified to profit or loss (2.5 ) (206.2 ) (1,879.4 ) (1,254.6 ) Income tax relating to gain/loss reclassified to profit or loss (2.1 (174.2 ) 343.6 181.7 Amounts removed from hedge reserve and recognized in inventory 5.9 484.5 1,292.0 1,077.2 Income tax related to amounts removed from hedge reserve and recognized in inventory (1.1 ) (91.4 ) (245.5 ) (203.8 ) Balance at the end US$ (122.8 ) Rs. (10,088.2 ) Rs. 864.3 Rs. (6.1 ) Of the above balance related to Continued hedges (122.8 ) (10,088.2 ) 864.3 (6.1 ) Discontinued hedges — — — — (e) The movement of gain/(loss) on debt instruments held at fair value through other comprehensive income(FVTOCI) is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 48.6 Rs. 3,997.4 Rs. 2,567.8 Rs. 886.3 Other Comprehensive income for the year 11.9 975.2 1,981.6 2,069.0 (Gain)/loss reclassified to profit or loss (2.4 ) (198.6 ) Income tax relating to gain/(loss) recognized on debt investments, where applicable (2.3 ) (186.0 ) (552.0 ) (387.5 ) Balance at the end US$ 55.8 Rs. 4,588.0 Rs. 3,997.4 Rs. 2,567.8 (f) Summary of Other components of equity: Year ended March 31, 2023 2023 2022 2021 (In millions) Currency translation reserve US$ 1,176.0 Rs. 96,628.6 Rs. 88,560.6 Rs. 89,692.0 Investments reserve 83.6 6,873.2 7,796.9 4,373.5 Hedging reserve (862.9 ) (70,905.2 ) (59,799.0 ) (1,222.1 ) Cost of hedge reserve (122.8 ) (10,088.2 ) 864.3 (6.1 ) Debt reserve 55.8 4,588.0 3,997.4 2,567.8 Total US$ 329.7 Rs. 27,096.4 Rs. 41,420.2 Rs. 95,405.1 |
Notes to reserves and dividends
Notes to reserves and dividends | 12 Months Ended |
Mar. 31, 2023 | |
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Notes to reserves and dividends | 30. Notes to reserves and dividends Additional paid-in The amount received in excess of face value of the equity shares is recognized in additional paid-in Retained earnings Retained earnings are the profits that the Company has earned till date. Capital redemption reserve The Companies Act requires that where a company purchases its own shares out of free reserves or securities premium account, a sum equal to the nominal value of the shares so purchased shall be transferred to a capital redemption reserve account and details of such transfer shall be disclosed in the balance sheet. The capital redemption reserve account may be applied by the company, in paying up unissued shares of the company to be issued to shareholders of the company as fully paid bonus shares. Tata Motors Limited established this reserve pursuant to the redemption of preference shares issued in earlier years. Debenture redemption reserve The Companies Act requires that where a company issues debentures, it shall create a debenture redemption reserve out of profits of the Company available for payment of dividend. The Company is required to maintain a Debenture Redemption Reserve of 25% of the value of debentures issued, either by a public issue or on a private placement basis. The amounts credited to the debenture redemption reserve may not be utilized by the Company except to redeem debentures. No DRR is required for debenture issued after August 16, 2019 Reserve for research and human resource development In terms of Article 9 of the Act on Special Taxation Restriction in Korea, Tata Daewoo Commercial Vehicle Company Limited (TDCV, a subsidiary of Tata Motors Limited) is entitled for deferment of tax in respect of expenditures incurred on product development cost subject to fulfillment of certain conditions, by way of deduction from the taxable income, provided that TDCV appropriates an equivalent amount from “Retained Earnings” to “Reserve for Research and Human Resource Development”. The deferment is for a period of three years and from the fourth year onwards one-third Special reserve The special reserve represents the reserve created by two subsidiaries of Tata Motors Limited pursuant to the Reserve Bank of India Act, 1934 (the “RBI Act”) and related regulations applicable to those companies. Under the RBI Act, a non-banking Earned surplus reserve Under the Korean commercial code, TDCV is required to appropriate at least 10% of cash dividend declared each year to a legal reserve until such reserves equal to 50% of capital stock. This reserve may not be utilized for cash dividends, but may only be used to offset against future deficits, if any, or may be transferred to capital stock. Hedge Reserve Effective portion of fair value gain/(loss) on all financial instruments designated in cash flow hedge relationship are accumulated in hedge reserve. Cost of hedge reserve Fair value gain/(loss) attributable to cost of hedge on all financial instruments designated in cash flow hedge relationship are accumulated in cost of hedge reserve. Dividends Accounting policy Any dividend declared by Tata Motors Limited is based on the profits available for distribution as reported in the statutory financial statements of Tata Motors Limited (standalone) prepared in accordance with Generally Accepted Accounting Principles in India or Ind AS. Indian law permits the declaration and payment of dividend out of profits for the year or previous financial year(s) as stated in the statutory financial statements of Tata Motors Limited (Standalone) prepared in accordance with Generally Accepted Accounting Principles in India, or Ind AS after providing for depreciation in accordance with the provisions of Schedule II to the Companies Act. However, in the absence of the said profits, it may declare dividend out of free reserves, subject to certain conditions as prescribed under the Companies (Declaration and Payment of Dividend) Rules, 2014. Accordingly, in certain years the net income reported in this Financial Statements may not be fully distributable. For the year ended March 31, 2023, the Board of Directors has recommended a final dividend of Rs.2 per share on Ordinary shares and Rs.2.10 per share on ‘A’ Ordinary shares subject to approval from shareholders at the Annual General Meeting . Share-based payments reserve Share-based payments reserve represents amount of fair value, as on the date of grant, of unvested options and vested options not exercised till date, that have been recognized as expense in the income statement till date. Reserve for equity investments through other comprehensive income Fair value gain / (loss) arising on equity investments that are designated as held at fair value through other comprehensive income is included here. Reserve for Debt instruments through other comprehensive income Fair value gain/loss arising on debt investment that are designated as held at fair value through Other comprehensive income is included here. |
Revenue
Revenue | 12 Months Ended |
Mar. 31, 2023 | |
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Revenue | 31. Revenue 31A. Accounting policy The Company generates revenue principally from – a) Sale of products – (i) The Company recognises revenues from sale of products measured at the amount of transaction price (net of variable consideration), when it satisfies its performance obligation at a point in time which is when products are delivered to dealers or when delivered to a carrier for export sales, which is when control including risks and rewards and title of ownership pass to the customer, and when there are no The Company offers sales incentives in the form of variable marketing expense to customers, which vary depending on the timing and customer of any subsequent sale of the vehicle. This sales incentive is accounted for as a revenue reduction and is constrained to a level that is highly probable not to reverse the amount of revenue recognised when any associated uncertainty is subsequently resolved. The Company estimates the expected sales incentive by market and considers uncertainties including competitor pricing, ageing of retailer stock and local market conditions. Revenue is recognised on a bill-and-hold There are certain vehicles which are being given to the customers along with operations and maintenance of the same. These are considered as finance leases and accordingly, revenue is recognised at the lease commencement date at fair value of the leased asset. The cost of sales is reduced for the present value of unguaranteed residual values. In addition, initial direct costs are recognised as cost of sales at the lease commencement date. The consideration received in respect of transport arrangements for delivering of vehicles to the customers are recognized net of their costs within revenues in the consolidated income statement. Revenues are recognized when collectability of the resulting receivable is reasonably assured. b) Sale of services – maintenance service, telematics features and extended warranties for commercial and passenger vehicles, software support services and insurance broking services Income from sale of maintenance services, telematics features and extended warranties, including software services are recognized as income over the relevant period of service or extended warranty. When the Company sells products that are bundled with maintenance service, telematics features or extended period of warranty, such services are treated as a separate performance obligation only if the service or warranty is optional to the customer or includes an additional service component. In such cases, the transaction price allocated towards such maintenance service or extended period of warranty is recognized as a contract liability until the service obligation has been met. The price that is regularly charged for an item when sold separately is the best evidence of its standalone selling price. In the absence of such evidence, the primary method used to estimate standalone selling price is the expected cost plus a margin, under which the Company estimates the cost of satisfying the performance obligation and then adds an appropriate margin based on similar services. The Company operates certain customer loyalty programs under which customer is entitled to reward points on the spend towards Company’s products. The reward points earned by customers can be redeemed to claim discounts on future purchase of certain products or services. Transaction price allocated towards reward points granted to customers is recognized as a deferred income liability and transferred to income when customers redeem their reward points. For certain sale of services wherein performance obligation is satisfied over a period of time, any amount received in advance is recorded as contract liability and recognized as revenue when service is rendered to customers (Refer note 26 and 27 for disclosures on contract liability). Any amount of income accrued but not billed to customers in respect of such contracts is recorded as a contract asset. Such contract assets are transferred to trade receivables on actual billing to customers. Refund liabilities comprise of obligation to customers to pay for discounts and sales incentives. Vehicle sales do not typically include allowances for returns or refunds, although in some markets there is legislative requirement for the Company as an automotive manufacturer to repurchase or reacquire a vehicle if quality issues arise that have been remedied a number of times and where the owner no longer wishes to own the vehicle as a result. Proceeds from sale of vehicles for which the Company or any of its subsidiaries have repurchase obligation in future is recorded as a liability – (i) Proceeds received in excess of agreed buy back price is recognized as Deferred income liability and (ii) the agreed buy back price is recognized as a liability towards vehicles sold under repurchase arrangements. Deferred income liability is recognized on a straight line basis over the term of the agreement. c) Financing revenues – Interest income from financing transactions and income from leasing of vehicles to customers. Finance and service charges are accrued on the unpaid principal balance of finance receivables using the effective interest method. 31B. Revenue consists of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Sale of products - Sale of vehicles US$ 35,984.2 Rs. 2,956,819.0 Rs. 2,263,993.8 Rs. 2,073,997.4 - Sale of spare parts 3,934.2 323,276.4 287,792.9 244,181.9 - Sale of miscellaneous products 1,692.0 139,034.7 126,524.0 99,764.5 Sale of Services 458.0 37,630.8 38,711.2 33,747.3 Total revenue from contract with customers US$ 42,068.4 Rs. 3,456,760.9 Rs. 2,717,021.9 Rs. 2,451,691.1 Realised revenue hedges (690.6 ) (56,750.1 ) 7,626.5 (10,540.1 ) Revenues US$ 41,377.8 Rs. 3,400,010.8 Rs. 2,724,648.4 Rs. 2,441,151.0 |
Employee cost
Employee cost | 12 Months Ended |
Mar. 31, 2023 | |
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Employee cost | 32. Employee cost Employee cost consists of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Salaries, wages and welfare expenses US$ 3,820.4 Rs. 313,926.6 Rs. 279,624.2 Rs. 253,440.4 Contribution to provident fund and other funds 275.5 22,634.8 28,558.9 27,643.3 Total US$ 4,095.9 Rs. 336,561.4 Rs. 308,183.1 Rs. 281,083.7 * The amount of Rs.300.3 million, Rs. million and Rs.90.4 million has accrued in salaries, wages and bonus for the year ended March 31, 2023, 2022 and 2021 respectively towards share based payments. (A) Share based payments Accounting policy The Company recognises compensation expense relating to share based payments in accordance with IFRS-2 As at March 31, 2023, the Group had the following share based payment arrangements. (i) Equity-settled share option plan Tata Motors Limited Employees Stock Option Scheme 2018 The Company has granted stock options to certain employees during the year ended March 31, 2019, under Tata Motors Limited Employee Stock Options Scheme 2018 approved by Nomination and Remuneration Committee (NRC). As per the scheme, the number of shares that will vest is conditional upon certain performance measures determined by NRC. The performance is measured over vesting period of the options granted which ranges from 3 to 5 years. The performance measures under this scheme include growth in sales, earnings and free cash flow. The options granted under this scheme is exercisable by employees till one year from date of its vesting. The Company has granted options at an exercise price of Rs 345/-. Option granted will vest equally each year starting from 3 years from date of grant up to 5 years from date of grant. Number of shares that will vest range from 0.5 to 1.5 per option granted depending on performance measures. Year ended March 31, Reconciliation of outstanding ESOP 2023 2022 Options outstanding at the beginning of the year 6,662,551 6,804,003 Granted during the year — 335,209 Forfeited/Expired during the year (3,045,214 ) (122,419 ) Exercised during the year (753,622 (354,242 ) Options outstanding at the end of the year 2,863,715 6,662,551 Number of shares to be issued for outstanding options (conditional on performance measures) Maximum 4,295,573 9,993,827 Minimum 1,431,858 3,331,276 Share price for options exercised during the year Rs. 372 - 490 Rs. 392 - 530 Remaining contractual life 3 months 3 - 15 months The Company has estimated fair value of options using Black Scholes model. The following assumptions were used for calculation of fair value of options granted. Year ended March 31, Assumption factor 2023 2022 Risk free interest rate 7%-8% 7%-8% Expected life of option 2-4 2-4 Expected volatility 33%-37% 33%-37% Share price Rs. 170.6 Rs. 170.6 Expected volatility during the expected term of the options is based on historical volatility of the observed market prices of the Company’s publicly-traded equity shares during a period equivalent to the expected term of the options. ii) Share-based Long Term Incentive Scheme 2021 The Company has granted Performance Stock Units (“PSUs”) and Employee Stock Options (“ESOs”) to its employees under the Tata Motors Limited Share-based Long Term Incentive Scheme 2021 (“TML SLTI Scheme 2021” or “Scheme”). As per the scheme, the number of shares that will vest is conditional upon certain performance measures determined by NRC. The performance is measured over vesting period of the options granted. The performance measures under this scheme include growth in sales, earnings and free cash flow. The options granted under this scheme is exercisable by employees till one year from date of its vesting. The Company has granted options at an exercise price of Rs 338/- for ESOs and Rs 2/- for PSUs. Option granted will vest after 3 years from date of grant. Number of shares that will vest range from 0.5 to 1.2 per option granted depending on performance measures. Year ended March 31, 2023 2022 ESOs PSUs ESOs PSUs Reconciliation of outstanding ESOs/ PSUs No. of options No. of options No. of options No. of options Outstanding at the beginning of the period 839,650 964,569 — — Granted during the period — 659,186 839,650 964,569 Forfeited during the period (78,822 ) (92,349 ) — — Exercised during the period — — — — Outstanding at the end of the period 760,828 1,531,406 839,650 964,569 Remaining contractual life 28 months 28 months 28 months 28 months The Company has estimated fair value of options using Black Scholes model. The following assumptions were used for calculation of fair value of options granted. Granted during Granted during Year ended March 31, 2022 Assumption factor PSUs ESOs PSUs Risk free interest rate 5.3 % 5.3 % 5.3 % Expected life of option 4 years 3.8 years 3.8 years Expected volatility 52.0 % 50.7 % 50.7 % Share price Rs . 453.4 Rs . 376.4 Rs . 376.4 Expected volatility during the expected term of the options is based on historical volatility of the observed market prices of the Company’s publicly-traded equity shares during a period equivalent to the expected term of the options. (B) Employee benefits (a) Accounting policy i) Pension plans The Jaguar Land Rover subsidiaries operate several defined benefit pension plans, which are contracted out of the second state pension scheme until April 5, 2016. The assets of the plan are held in separate trustee administered funds. The plans provide for monthly pension after retirement as per salary drawn and service period as set out in rules of each fund. Contributions to the plans by the Jaguar Land Rover subsidiaries group take into consideration the results of actuarial valuations. The plans with a surplus position at the year-end A separate defined contribution plan is available to employees of Jaguar Land Rover. Costs in respect of this plan are charged to the consolidated income statement as incurred. ii) Gratuity Tata Motors Limited and its subsidiaries and joint operations in India have an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The plan provides for a lump-sum Tata Motors Limited and its subsidiaries and joint operations in India account for the liability for gratuity benefits payable in the future based on an actuarial valuation. iii) Superannuation Tata Motors Limited and some of its subsidiaries in India have two superannuation plans, a defined benefit plan and a defined contribution plan. An eligible employee on April 1, 1996 could elect to be a member of either plan. Employees who are members of the defined benefit superannuation plan are entitled to benefits depending on the years of service and salary drawn. The monthly pension benefits after retirement range from 0.75% to 2% of the annual basic salary for each year of service. Tata Motors Limited and such subsidiaries account for superannuation benefits payable in future under the plan based on an actuarial valuation. With effect from April 1, 2003, this plan was amended and benefits earned by covered employees have been protected as at March 31, 2003. Employees covered by this plan are prospectively entitled to benefits computed on a basis that ensures that the annual cost of providing the pension benefits would not exceed 15% of salary. During the year ended March 31, 2015, the employees covered by this plan were given a one-time one- Separate irrevocable trusts are maintained for employees covered and entitled to benefits. Tata Motors Limited and its subsidiaries contribute up to 15% or Rs.150,000, whichever is lower, of the eligible employees’ salary to the trust every year. Such contributions are recognized as an expense when incurred. Tata Motors Limited and such subsidiaries have no further obligation beyond this contribution. iv) Bhavishya Kalyan Yojana (BKY) Bhavishya Kalyan Yojana is an unfunded defined benefit plan for employees of Tata Motors Limited and some of its subsidiaries. The benefits of the plan include pension in certain cases, payable up to the date of normal superannuation had the employee been in service, to an eligible employee at the time of death or permanent disablement, while in service, either as a result of an injury or as certified by the appropriate authority. The monthly payment to dependents of the deceased/disabled employee under the plan equals 50% of the salary drawn at the time of death or accident or a specified amount, whichever is greater. Tata Motors Limited and these subsidiaries account for the liability for BKY benefits payable in the future based on an actuarial valuation. v) Provident fund and family pension In accordance with Indian law, eligible employees of Tata Motors Limited and some of its subsidiaries and joint operations are entitled to receive benefits in respect of provident fund, a defined contribution plan, in which both employees and the Company make monthly contributions at a specified percentage of the covered employees’ salary (currently 12% of employees’ salary). The contributions, as specified under the law, are made to the provident fund and pension fund set up as an irrevocable trust by Tata Motors Limited and its subsidiaries or to respective Regional Provident Fund Commissioner and the Central Provident Fund under the State Pension scheme. The interest rate payable to the members of the trust shall not be lower than the statutory rate of interest declared by the Central Government under the Employees Provident Funds and Miscellaneous Provisions Act, 1952 and shortfall, if any, shall be made good by the Company. The embedded interest rate guarantee is considered to be defined benefit. The provident fund trust and pension trust set up by Tata Motors Limited (the “Company”) have lost its exempt status w.e.f. April 1, 2022, due to incurrence of losses for three consecutive years by the Company, as per its standalone financial statements prepared in accordance with Indian Accounting Standards. Accordingly, the Company has surrendered this exemption and transferred the assets and obligations of the trust to the government managed provident fund. With this transfer of assets and obligations, the Company will no longer be obligated to provide any interest rate guarantee and accordingly, the provident fund is considered as a defined contribution scheme from April 1, 2022. As regards pension, the Company is still maintaining the pension fund, as an ad interim measure, since EPFO has still not accepted the transfer of pension fund/corpus to its statutory pension fund. vi) Severance indemnity Tata Daewoo Commercial Vehicle Company Limited, or TDCV, a subsidiary company incorporated in Korea; has an obligation towards severance indemnity, a defined benefit retirement plan, covering eligible employees. The plan provides for a lump sum payment to all employees with more than one year of employment equivalent to 30 days’ salary payable for each completed year of service. vii) Post-retirement medicare scheme Under this unfunded scheme, employees of Tata Motors Limited and some of its subsidiaries receive medical benefits subject to certain limits on amounts of benefits, periods after retirement and types of benefits, depending on their grade and location at the time of retirement. Employees separated from the Company as part of an Early Separation Scheme, on medical grounds or due to permanent disablement are also covered under the scheme. Tata Motors Limited and such subsidiaries account for the liability for post-retirement medical scheme based on an actuarial valuation. viii) Compensated absences Tata Motors Limited and some of its subsidiaries and joint operations provide for the encashment of leave or leave with pay subject to certain rules. The employees are entitled to accumulate leave subject to certain limits, for future encashment. The liability is provided based on the number of days of unutilized leave at each balance sheet date on the basis of an actuarial valuation. ix) Remeasurement gains and losses Remeasurement comprising actuarial gains and losses, the effect of the asset ceiling and the return on assets (excluding interest) relating to retirement benefit plans, are recognized directly in other comprehensive income in the period in which they arise. Remeasurement recorded in other comprehensive income is not reclassified to consolidated income statement Actuarial gains and losses relating to long-term employee benefits are recognized in the consolidated income statement in the period in which they arise. x) Measurement date The measurement date of retirement plans is March 31. The Present value of the defined benefit liability and the related current service cost and past service cost are measured using Projected Unit Credit Method. The present value of the post - employment benefit obligations depends on a number of factors, it is determined on an actuarial basis using a number of assumptions. The assumptions used in determining the net cost/(income) for pensions include the discount rate, inflation and mortality assumptions. Any changes in these assumptions will impact the carrying amount of post-employment benefit obligations. (b) Employee benefits (i) Defined Benefit Plan Pension and post retirement medical plans The following tables sets out the funded and unfunded status and the amounts recognized in the financial statements for the pension and the post retirement medical plans in respect of Tata Motors, its Indian subsidiaries and joint operations: For the year ended March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2023 2023 2022 (In millions) Change in defined benefit obligations: Defined benefit obligation, beginning of the year US$ 189.0 Rs. 15,521.7 Rs. 13,374.1 US$ 34.4 Rs. 2,831.2 Rs. 1,844.9 Current service cost 13.0 1,065.6 904.7 1.8 144.4 82.1 Interest cost 13.0 1,070.3 883.7 2.3 192.5 115.7 Remeasurements (gains) / losses Actuarial (gains) / losses arising from changes in demographic assumptions (0.3 ) (22.4 ) 68.1 0.1 4.3 69.5 Actuarial (gains) / losses arising from changes in financial assumptions 2.0 165.7 217.3 1.9 156.3 320.0 Actuarial (gains) / losses arising from changes in experience adjustments 4.8 395.9 735.0 2.5 206.9 329.3 Benefits paid from plan assets (9.5 ) (777.7 ) (839.3 ) — — — Benefits paid directly by employer (1.4 ) (116.2 ) (109.0 ) (1.9 ) (153.9 ) (172.4 ) Past service cost plan amendment — — 324.9 5.3 431.9 244.6 Acquisition/(Divestment) 0.7 59.5 (37.8 ) — — (2.5 ) Defined benefit obligation, end of the year US$ 211.3 Rs. 17,362.4 Rs. 15,521.7 US$ 46.4 Rs. 3,813.6 Rs. 2,831.2 Change in plan assets: Fair value of plan assets, beginning of the year US$ 157.3 Rs. 12,918.1 Rs. 12,313.1 US$ — Rs. — Rs. — Interest income 11.6 956.0 831.2 — — — Remeasurements gains / (losses) Return on plan assets, (excluding amount included in net Interest Cost) 0.1 11.0 110.1 — — — Employer’s contributions 23.9 1,962.6 529.5 — — — Benefits paid (9.5 ) (777.7 ) (839.3 ) — — — Acquisition/(Divestment) 0.7 59.7 (26.5 ) Fair value of plan assets, end of the year US$ 184.1 Rs. 15,129.7 Rs. 12,918.1 US$ Rs. — Rs. — As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2023 2023 2022 (In millions) Amount recognized in the balance sheet consists of: Present value of defined benefit obligation US$ 211.3 Rs. 17,362.4 Rs. 15,521.7 US$ 46.4 Rs. 3,813.6 Rs. 2,831.2 Fair value of plan assets 184.1 15,129.7 12,918.1 — — — Net liability (27.2 ) (2,232.7 ) (2,603.6 ) (46.4 ) (3,813.6 ) (2,831.2 ) Asset Ceiling (0.6 ) (48.8 ) (41.9 ) — — — Net liability US$ (27.8 ) Rs. (2,281.5 ) Rs. (2,645.5 ) US$ (46.4 ) Rs. (3,813.6 ) Rs. (2,831.2 ) Amounts in the balance sheet: Non–current assets US$ 4.1 Rs. 339.0 20.7 US$ — Rs. — Rs. — Non–current liabilities (31.9 ) (2,620.3 ) (2,666.2 ) (46.4 ) (3,813.6 ) (2,831.2 ) Net liability US$ (27.8 ) Rs. (2,281.5 ) Rs. (2,645.5 ) US$ (46.4 ) Rs. (3,813.6 ) Rs. (2,831.2 ) Information for funded plans with a defined benefit obligation in excess of plan assets: As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) 2023 2023 2022 (In millions) Defined benefit obligation US$ 54.7 Rs. 4,491.6 Rs. 10,655.3 Fair value of plan assets US$ 49.9 Rs. 4,102.9 Rs. 10,084.3 Information for funded plans with a defined benefit obligation less than plan assets: As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) 2023 2023 2022 (In millions) Defined benefit obligation US$ 129.5 Rs. 10,639.2 Rs. 2,771.3 Fair value of plan assets US$ 134.2 Rs. 11,027.0 Rs. 2,833.9 Information for unfunded plans: As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2023 2023 2022 (In millions) Defined benefit obligation US$ 27.2 Rs. 2,231.6 Rs. 2,095.0 US$ 46.4 Rs. 3,813.6 Rs. 2,831.2 Net pension and post retirement medical cost consist of the following components: Year ended March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2021 2023 2023 2022 2021 (In millions) Service cost US$ 13.0 Rs. 1,065.6 Rs. 904.7 Rs. 901.2 US$ 1.8 144.4 Rs. 82.1 Rs. 78.7 Past Service cost - Plan amendment — — 324.9 — 5.3 431.9 244.6 — Net interest cost / (income) 1.4 114.3 52.5 77.1 2.3 192.5 115.7 108.0 Net periodic cost US$ 14.4 Rs. 1,179.9 Rs. 1,282.1 Rs. 978.3 US$ 9.4 Rs. 768.8 Rs. 442.4 Rs. 186.7 Other changes in plan assets and benefit obligation recognized in other comprehensive income. Year ended March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2021 2023 2023 2022 2021 (In millions) Remeasurements (gains) / losses Return on plan assets, (excluding amount included in net Interest expense) US$ (0.1 ) Rs. (11.0) Rs. (110.1) Rs. (355.9) US$ — Rs. — Rs. — Rs. — Actuarial (gains) / losses arising from changes in demographic assumptions (0.3 ) (22.4 ) 68.1 (24.6 ) 0.1 4.3 69.5 — Actuarial (gains) / losses arising from changes in financial assumptions 2.0 165.7 217.3 (0.6 ) 1.9 156.3 320.0 57.9 Asset ceiling 0.1 6.8 41.9 29.2 — — — — Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities 4.8 395.9 735.0 (129.8 ) 2.5 206.9 329.3 2.8 Total recognized in other comprehensive income US$ 6.5 Rs. 535.0 Rs. 952.2 Rs. (481.7) US$ 4.5 Rs. 367.5 Rs. 718.8 Rs. 60.7 Total recognized in consolidated statement of comprehensive income US$ 20.9 Rs. 1,714.9 Rs. 2,234.3 Rs. 496.6 US$ 13.9 Rs. 1,136.3 Rs. 1,161.2 Rs. 247.4 The assumptions used in accounting for the pension and post retirement medical plans are set out below: As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2022 2021 2023 2022 2021 Discount rate 7.1% - 7.3% 6.50% - 7.10% 6.00% - 6.90% 0.00 % 7.20 % 6.90 % Rate of increase in compensation level of covered employees 6% - 12% 6% - 10% 5.75% - 10.00% NA NA NA Increase in health care cost NA NA NA 0.00 % 6.00 % 6.00 % Plan Assets The fair value of Company’s pension plan asset by category are as follows: As at March 31, 2023 2022 Asset category: Cash and cash equivalents 9.5 % 2.3 % Debt instruments (quoted) 65.1 % 66.1 % Debt instruments (unquoted) 0.0 % 0.1 % Equity instruments (quoted) 7.7 % 7.4 % Deposits with Insurance companies 17.7 % 24.1 % 100.0 % 100.0 % The Company’s policy is driven by considerations of maximizing returns while ensuring credit quality of the debt instruments. The asset allocation for plan assets is determined based on investment criteria prescribed under the Indian Income Tax Act, 1961, and is also subject to other exposure limitations. The Company evaluates the risks, transaction costs and liquidity for potential investments. To measure plan asset performance, the Company compares actual returns for each asset category with published bench marks. The weighted average duration of the defined benefit obligation as at March 31, 2023 is 10.30 years (2022: 11.69 years) The Company expects to contribute Rs.891.8 million to the funded pension plans in Fiscal 2024. The table below outlines the effect on the service cost, the interest cost and the defined benefit obligation in the event of a decrease/increase of 1% in the assumed rate of discount rate, salary escalation and health care cost: Assumption Change in assumption Impact on defined benefit obligation Impact on service cost and interest cost Discount rate Increase by 1% Decrease by Rs.1,699.4 million Decrease by Rs.323.6 million Decrease by 1% Increase by Rs.1,975.8 million Increase by Rs.355.2 million Salary escalation rate Increase by 1% Increase by Rs.1,337.0 million Increase by Rs.306.4 million Decrease by 1% Decrease by Rs.1,194.7 million Decrease by Rs.270.6 million Health care cost Increase by 1% Increase by Rs.514.3 million Increase by Rs.100.4 million Decrease by 1% Decrease by Rs.424.9 million Decrease by Rs.81.4 million On November 4, 2022, the Hon’ble Supreme Court of India, in the case of Employees’ Provident Fund Organisation and Anr. Etc. vs. Sunil Kumar B. and Ors. Etc., passed a judgment upholding the validity of the 2014 amendment to the Employees’ Pension Scheme 1995 and allowed the members of statutory pension fund as on September 1, 2014, to exercise the joint option for contribution into the pension fund beyond the statutory limit. The Hon’ble Supreme Court has clearly laid down that it was not addressing the case of the exempted establishments in the said judgment. The Company has been operating its provident fund and pension scheme as an exempted establishment. The Company has been legally advised that due to the incurrence of losses for three consecutive years, the Company has lost its provident fund and pension fund exemption status w.e.f. April 1, 2022. While the Employees Provident Fund Organization (“EPFO”) has already accepted the transfer of entire Provident Fund/ corpus into its statutory provident fund, the Company is still maintaining the pension fund, as an ad interim measure, since EPFO has still not accepted the transfer of pension fund/ corpus to its statutory pension fund. Pending the transfer of the pension fund, the Company had communicated to its employees that if they wish to avail the option of contributing beyond the statutory limit, they may choose to apply on the EPFO portal to exercise the option, subject to EPFO accepting the joint option. This is also subject to EPFO’s decision on applicability, calculation formula, contribution, amount of higher pension and transfer of corpus from statutory provident fund to the statutory pension fund. The EPFO, in compliance with the Supreme Court judgment, has issued various circulars, calling upon eligible pensioners to exercise joint option, however, with no mention with regard to the treatment of the members of the exempted pension funds. Considering all of the above, and more particularly the fact that the EPFO is in the process of providing clarity on various key elements referred to above, the non-applicability Provident Fund The following tables set out the funded status of the defined benefit provident fund plan of a Joint Operation and the amounts recognized in the Company’s financial statements. For the year ended March 31, 2023 2023 2022 (In millions) Change in benefit obligations: Defined benefit obligations at the beginning US$ 497.2 Rs. 40,854.2 Rs. 45,596.5 Service cost 0.5 41.0 1,268.9 Employee contribution 0.9 73.0 2,923.6 Acquisitions (credit) / cost — — (8,042.8 ) Transfer in / Transfer out 0.2 12.9 — Interest expense 1.1 88.5 3,564.7 Actuarial (gains) / losses arising from changes in experience adjustments 0.2 15.8 (786.2 ) Actuarial (gains) / losses arising from demographic assumptions — — 33.5 Actuarial (gains) / losses arising from changes in financial assumptions (0.5 ) (40.1 ) 1,473.2 Benefits paid (0.7 ) (55.3 ) (3,173.0 ) Balance transferred to government managed provident fund (482.5 ) (39,643.5 ) (2,004.2 ) Defined benefit obligation, end of the year US$ 16.4 Rs. 1,346.5 Rs. 40,854.2 For the year ended March 31, 2023 2023 2022 (In millions) Change in plan assets: Fair value of plan assets at the beginning US$ 505.5 Rs. 41,534.6 Rs. 44,702.1 Acquisition Adjustment — — (8,042.8 ) Transfer in / Transfer out 0.2 12.9 — Interest income 1.0 85.8 3,509.2 Return on plan assets excluding amounts included in interest income (0.4 ) (29.9 ) 2,322.1 Contributions (employer and employee) 1.4 114.1 4,190.3 Benefits paid (0.7 ) (55.3 ) (3,173.0 ) Balance transferred to government managed provident fund (491.2 ) (40,362.6 ) (1,973.3 ) Fair value of plan assets, end of the year US$ 15.8 Rs. 1,299.6 Rs. 41,534.6 For the year ended March 31, 2023 2023 2022 (In millions) Amount recognized in the balance sheet consists of Fair value of plan assets US$ 15.8 Rs. 1,299.6 Rs. 41,534.6 Present value of defined benefit obligation 16.4 1,346.5 40,854.2 (0.6 ) (46.9 ) 680.4 Effect of asset ceiling — — (684.5 ) Net liability US$ (0.6 ) Rs. (46.9 ) Rs. (4.1 ) For the year ended March 31, 2023 2023 2022 (In millions) Net periodic cost for Provident Fund consists of the following components: Service cost US$ 0.5 41.0 1,268.9 Net interest cost / (income) — 2.7 55.5 Net periodic cost US$ 0.5 Rs. 43.7 Rs. 1,324.4 As at March 31 2023 2023 2022 (In millions) Other changes in plan assets and benefit obligation recognised in other comprehensive income Remeasurements Return on plan assets, (excluding amount included in net Interest expense) US$ 0.4 Rs. 29.9 Rs. (2,322.1 ) Actuarial (gains) / losses arising from changes in experience adjustments 0.2 15.8 (786.2 ) Actuarial (gains) / losses arising from changes in financial assumptions (0.5 ) (40.1 ) 1,473.2 Actuarial (gains) / losses arising from demographic assumptions — — 33.5 Reversal of OCI for previous years due to surrender of Provident Fund — — (30.9 ) Adjustments for limits on net asset — — 719.1 Total recognised in other comprehensive income 0.1 5.6 (913.4 ) Total recognized in statement of profit and loss and other comprehensive income US$ 0.6 Rs. 49.3 Rs. 411.0 The assumptions used in determining the present value obligation of the Provident Fund is set out below: As at March 31 2023 2022 Discount rate 7.30 % 7.10 % Expected rate of return on plan assets 8.50 % 8.00 % Remaining term to maturity of portfolio (years) 19.00 13.50 The breakup of the plan assets into various categories is as follows: As at March 31 2023 2022 Central and State government bonds 0.0 % 42.7 % Government debt instruments 50.7 % 0.0 % Other debt instruments 40.1 % 0.0 % Equity instruments 9.2 % 0.0 % Public sector undertakings and Private sector bonds 0.0 % 32.2 % Others 0.0 % 25.1 % Total 100.0 % 100.0 % The asset allocation for plan assets is determined based on investment criteria prescribed under the relevant regulations. As at March 31, 2023, the defined benefit obligation would be affected by approximately Rs.103.7 million on account of a 1 % decrease in the expected rate of return on plan assets. The Company expects to contribute Rs.125.5 million to the defined benefit provident fund plan in fiscal 2024. Severance indemnity plan Severance indemnity is a funded plan of Tata Daewoo Commercial Vehicles Limited (TDCV), a subsidiary of Tata Motors Limited. The following table sets out, the amounts recognized in the financial statements for the severance indemnity plan. For the year ended March 31, 2023 2023 2022 (In millions) Change in defined benefit obligation: Defined benefit obligation, beginning of the year US$ 46.6 Rs. 3,827.5 Rs. 3,110.8 Service cost 6.6 539.0 482.1 Interest cost 1.4 111.9 63.9 Remeasurements (gains) / losses - Actuarial (gains) / losses arising from changes in financial assumptions (4.6 ) (379.7 ) (53.6 ) Actuarial (gains) / losses arising from changes in experience adjustments 0.2 17.5 412.2 Benefits paid from plan assets (0.8 ) (67.6 ) (62.5 ) Benefits paid directly by employer — (4.0 ) (7.9 ) Foreign currency translation 0.5 42.8 (117.5 ) Defined benefit obligation, end of the year US$ 49.9 Rs. 4,087.4 Rs. 3,827.5 Change in plan assets: Fair value of plan assets, beginning of the year US$ 40.9 3,357.1 2,650.6 Interest income 1.3 105.0 63.5 Remeasurements gain / (loss) Return on plan assets, (excluding amount included in net Interest expense) (0.5 ) (41.9 ) (54.7 ) Employer’s contributions 5.6 461.3 862.5 Benefits paid (0.8 ) (67.6 ) (62.5 ) Foreign currency translation 0.5 44.6 (102.3 ) Fair value of plan assets, end of the year US$ 47.0 Rs. 3,858.5 Rs. 3,357.1 As at March 31, 2023 2023 2022 (In millions) Amount recognized in the balance sheet consist of: Present value of defined benefit obligation US$ 49.7 Rs. 4,087.4 Rs. 3,827.5 Fair value of plan assets 47.0 3,858.5 3,357.1 Net liability US$ (2.7 ) Rs. (228.9 ) Rs. (470.4 ) Amounts in the balance sheet: Non- US$ (2.7 ) Rs. (228.9 ) Rs. (470.4 ) Net severance indemnity cost consist of the following components: Year ended March 31, 2023 2023 2022 2021 (In millions) Service cost US$ 6.6 Rs. 539.0 Rs. 482.1 Rs. 546.7 Net interest cost 0.1 6.9 0.4 5.6 Net periodic pension cost US$ 6.7 Rs. 545.9 Rs. 482.5 Rs. 552.3 Other changes in plan assets and benefit obligation recognized in other comprehensive income for severance indemnity plan: As at March 31, 2023 2023 2022 2021 (In millions) Remeasurements (gains) / losses Return on plan assets, (excluding amount included in net Interest expense) US$ 0.5 41.9 Rs. 54.7 Rs. 15.9 Actuarial (gains) / losses arising from changes in financial assumptions (4.6 ) (379.7 ) (53.6 ) (213.5 ) Actuarial (gains) / losses arising from changes in experience adjustments 0.2 17.5 412.2 (196.6 ) Actuarial (gains) / losses arising from changes in demographic assumption — — — 150.4 Total recognized in other comprehensive income US$ (3.9 ) Rs. (320.3 ) Rs. 413.3 Rs. (243.8 ) Total recognized in income statement and other comprehensive income US$ 2.8 Rs. 225.6 Rs. 895.8 Rs. 308.5 The assumptions used in accounting for the Severance indemnity plan is set out below: As at March 31, 2023 2022 2021 Discount rate 3.4 % 2.1 % 1.6 % Rate of increase in compensation level of covered employees 3.9 % 3.5 % 3.5 % The table below outlines the effect on the service cost, the interest cost and the defined benefit obligation in the event of a decrease/increase of 1% in the assumed rate of discount rate, salary escalation rate: Assumption Change in assumption Impact on defined benefit Impact on service cost and interest cost Discount rate Increase by 1% Decrease by Rs.428.0 millions Decrease by Rs.128.0 millions Decrease by 1% Increase by Rs.498.3 millions Increase by Rs.147.1 millions Salary escalation rate Increase by 1% Increase by Rs.490.6 millions Increase by Rs.151.8 millions Decrease by 1% Decrease by Rs.430.0 millions Decrease by Rs.130.8 millions Severance indemnity plans asset allocation by category is as follows: As at March 31, 2023 2022 Deposit with banks 100 % 100 % The weighted average duration of the defined benefit obligation as at March 31, 2023 is 11.57 years (2022: 11.67 years). The Company expects to contribute Rs.58.5 million to the funded severance indemnity plans in Fiscal 2024. Jaguar Land Rover Pension plan Jaguar Land Rover Ltd UK, have pension arrangements providing for qualifying employees with defined benefits related to pay and service as set out in the rules of each fund. The UK defined benefit schemes are administered by a separate fund that is legally separated from the Company. The trustees of the pension schemes are required by law to act in the interest of the fund and of all relevant stakeholders in the scheme, is responsible for the investment policy with regard to the assets of the schemes and all other governance matters. The board of trustees must be composed of representatives of the Company and plan participants in accordance with the plan’s regulations. Through its defined benefit pension plans, the Company is exposed to a number of risks, the most significant of which are detailed below : Asset volatility The plan liabilities are calculated using a discount rate set with references to corporate bond yields; if plan assets under perform compared to the corporate bonds discount rate, this will create or increase a deficit. The defined benefit plans hold a significant proportion of equity type assets, which are expected to outperform corporate bonds in the long-term while providing volatility and risk in the short-term. As the plans mature, the Company intends to reduce the level of investment risk by investing more in assets that better match the liabilities. However, the Company believes that due to the long-term nature of the plan liabilities and the strength of the supporting group, a level |
Other expenses
Other expenses | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Other expenses | 33. Other expenses Other expenses consist of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Stores, spare parts and tools consumed US$ 195.9 Rs. 16,096.3 Rs. 14,460.9 Rs. 12,790.5 Freight and transportation expenses 918.5 75,476.4 62,779.6 57,157.9 Research and product development cost 1,297.5 106,619.6 92,095.0 52,266.2 Warranty and product liability expenses 1,277.5 104,973.3 88,416.3 76,819.4 Allowance for trade and other receivables, and finance receivables 253.9 20,860.1 14,265.9 9,786.3 Works operation and other expenses 3,270.5 268,729.6 213,833.9 189,460.4 Repairs to building and plant and machinery 81.3 6,681.5 4,998.1 4,282.3 Processing charges 217.3 17,858.5 14,064.8 9,656.7 Power and fuel 305.9 25,133.3 21,782.9 11,128.7 Insurance 53.8 4,418.5 4,157.7 3,362.4 Publicity 734.5 60,353.8 48,636.5 43,846.3 Total US$ 8,606.6 Rs. 707,200.9 Rs. 579,491.6 Rs. 470,557.1 |
Other income_(loss) (net)
Other income/(loss) (net) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Other income/(loss) (net) | 34. Other income/(loss) (net) 34A. Accounting policy Other income includes export and other recurring and non-recurring Government grants are recognized in the consolidated income statement, either on a systematic basis when the Company recognizes, as expenses, the related costs that the grants are intended to compensate or, immediately if the costs have already been incurred. Government grants related to assets are netted off from the carrying value of related assets and amortised over the useful life of the asset. Government grants related to income are presented as an offset against the related expenditure, and government grants that are awarded as incentives with no ongoing performance obligations to the Company are recognized as income in the period in which the grant is received. 34B. Other income/(loss) (net) consist of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Miscellaneous income US$ 215.5 Rs. 17,710.8 Rs. 17,624.3 Rs. 13,916.1 Incentives 274.4 22,540.3 13,383.0 12,475.7 Gain / (Loss) on change in fair value of commodity derivatives (172.2 ) (14,148.3 ) 13,705.7 13,820.9 Dividend income from investments measured at FVTOCI 5.6 464.2 342.2 183.7 Profit on sale of investments measured at FVTPL 37.1 3,048.8 2,137.0 1,772.6 Fair value gain/(loss) on investments measured at FVTPL 11.4 932.7 528.6 199.1 Total US$ 371.8 Rs. 30,548.5 Rs. 47,720.8 Rs. 42,368.1 |
Interest expense
Interest expense | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Interest expense | 35. Interest expense Interest expense consists of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Gross interest expense US$ 1,282.4 Rs. 105,375.1 Rs. 99,000.2 Rs. 92,333.4 Less: Interest capitalized * (36.3 ) (2,982.8 ) (5,737.1 ) (11,492.9 ) Total US$ 1,246.1 Rs. 102,392.3 Rs. 93,263.1 Rs. 80,840.5 * Represents borrowing costs capitalized during the year on qualifying assets (property plant and equipment and product development). The weighted average rate for capitalization of interest relating to general borrowings were approximately 5.8%, 5.2% and 5.3% for the years ended March 31, 2023, 2022 and 2021, respectively. |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Commitments and contingencies | 36. Commitments and contingencies In the ordinary course of business, the Company faces claims and assertions by various parties. The Company assesses such claims and assertions and monitors the legal environment on an ongoing basis, with the assistance of external legal counsel, wherever necessary. The Company records a liability for any claims where a potential loss is probable and capable of being estimated and discloses such matters in its financial statements, if material. For potential losses that are considered possible, but not probable, the Company provides disclosure in the financial statements but does not record a liability in its accounts unless the loss becomes probable. The following is a description of claims and assertions where a potential loss is possible, but not probable. The Company believes that none of the contingencies described below would have a material adverse effect on the Company’s financial condition, results of operations or cash flows. Litigation The Company is involved in legal proceedings, both as plaintiff and as defendant. There are claims which the Company does not believe to be of material nature, other than those described below. Income Tax The Company has ongoing disputes with income tax authorities relating to tax treatment of certain items. These mainly include disallowed expenses, the tax treatment of certain expenses claimed by the Company as deductions and the computation of, or eligibility of, the Company’s use of certain tax incentives or allowances. Most of these disputes and/or disallowances, being repetitive in nature, have been raised by the income tax authorities consistently in most of the years. The Company has a right of appeal to the Commissioner of Income Tax (Appeals), or CIT (A), the Dispute Resolution Panel, or DRP, and to the Income Tax Appellate Tribunal, or ITAT, against adverse decisions by the assessing officer, DRP or CIT (A), as applicable. The income tax authorities have similar rights of appeal to the ITAT against adverse decisions by the CIT (A) or DRP. The Company has a further right of appeal to the Bombay High Court or the Supreme Court against adverse decisions by the appellate authorities for matters involving substantial question of law. The income tax authorities have similar rights of appeal. As at March 31, 2023, there are matters and/or disputes pending in appeal amounting to Rs.7,918.2 million, which includes Rs.91.3 million in respect of equity accounted investees (Rs.9,760 million, which includes Rs.72 million in respect of equity accounted investees as at March 31, 2022). Customs, Excise Duty and Service Tax As at March 31, 2023, there are pending litigations for various matters relating to customs, excise duty and service tax involving demands, including interest and penalties, of Rs.4,540.3 million, which includes Rs.40.2 million in respect of equity accounted investees (Rs.6,809 million, which includes Rs.41 million in respect of equity accounted investees as at March 31, 2022). These demands challenged the basis of valuation of the Company’s products and denied the Company’s claims of Central Value Added Tax, or CENVAT, credit on inputs. There are no demands for more than Rs.1,000 million as at March 31, 2023. Sales Tax / VAT The total sales tax demands (including interest and penalty), that are being contested by the Company amount to Rs.11,066.5 million, which includes Rs.105.5 million in respect of equity accounted investees as at March 31, 2023 (Rs.13,981 million, which includes Rs.108 million in respect of equity accounted investees, as at March 31, 2022). The details of the demands for more than Rs.1,000 million are as follows: The Sales Tax Authorities have raised demand of Rs.2,310.9 million (Rs.3,240 million as at March 31, 2022) towards rejection of certain statutory forms for concessional lower/nil tax rate (Form F and Form C) on technical grounds and few other issues such as late submission, single form issued against different months’ / quarters’ dispatches / sales, etc. and denial of exemption from tax in absence of proof of export for certain year. The Company has contended that the benefit cannot be denied on technicalities, which are being complied with. The matter is pending at various levels. The Sales Tax authorities have denied input tax credit and levied interest and penalty thereon due to varied reasons aggregating to Rs.2,674.9 million as at March 31, 2023 (Rs.2,836 million as at March 31, 2022). The reasons for disallowing credit was mainly due to Taxes not paid by Vendors, incorrect method of calculation of set off as per the department, alleged suppression of sales as per the department etc. The matter is contested in appeal. The Sales Tax Authorities have raised demand for Check post /Entry Tax liability at various states amounting to Rs.3,094.7 million (Rs.5,014 million as at March 31, 2022). The Company is contesting this issue. Other Taxes and Dues Other amounts for which the Company may contingently be liable aggregate to Rs.4,028.8 million, which includes Rs.16 million in respect of equity accounted investees as at March 31, 2023 (Rs.2,552 million, which includes Rs.13 million in respect of equity accounted investees, as at March 31, 2022). As at March 31, 2023, property tax amounting to Rs.1,505.8 million (Rs.1,001 million as at March 31, 2022) has been demanded by the local municipal authorities in respect of vacant land of the Company in the plant in Pimpri ((including residential land), Chinchwad and Chikali Pune. The Company had filed Special Leave Petition (SLP) before the Supreme Court against an unfavorable decision of the Bombay High Court. The Hon’ble Supreme Court had disposed of the SLP and remanded the matter back to the local municipal corporation for fresh adjudication. After fresh hearing, the municipal authority again passed the same order as it had passed earlier, which the Company has challenged before the Civil Court. The Civil Court has passed an injunction order restraining the municipal authority from taking any action of recovery. Other claims There are other claims against the Company, the majority of which pertain to government body investigations with regards to regulatory compliances, motor accident claims, product liability claims and consumer complaints. Some of the cases also relate to the replacement of parts of vehicles and/or the compensation for deficiencies in the services by the Company or its dealers. The Hon’ble Supreme Court of India (“SC”) by their order dated February 28, 2019, set out the principles based on which allowances paid to the employees should be identified for inclusion in basic wages for the purposes of computation of Provident Fund contribution. There are interpretative challenges and considerable uncertainty, including estimating the amount retrospectively. Pending the directions from the EPFO, the impact for past periods, if any, is not ascertainable reliably and consequently no financial effect has been provided for in the financial statements. The Company has complied with this on a prospective basis, from the date of the SC order. The Supreme Court of India in a recent judgement has concluded that if a manufacturer issues a credit note to a dealer acting under a warranty given by the manufacturer pursuant to a sale of an automobile, it is the valuable consideration for transfer of property and hence a ‘sale’ within the meaning of the Sales Tax Legislations of the respective sales tax legislations under consideration. The value in the credit note is thus eligible to sales tax levy under the respective sales tax enactments. Thus, the dealers are liable to pay sales tax under the State enactments under consideration. The Company may have the liability if it decides to reimburse the dealers, which will be quantified for each such dealer, basis the documentation provided to the Company. Commitments The Company has entered into various contracts with vendors and contractors for the acquisition of plant and machinery, equipment and various civil contracts of a capital nature amounting to Rs.71,566.5 million as at March 31, 2023 ( The Company has entered into various contracts with vendors and contractors for the acquisition of intangible assets of a capital nature amounting to Rs.5,911.9 million as at March 31, 2023, (Rs.3,358 million as at March 31, 2022), which are yet to be executed. Under the joint venture agreement as at March 31, 2023, the Company has an outstanding commitment of Rs.18,241.3 million (Rs.18,229.8 million as at March 31, 2022). |
Capital Management
Capital Management | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Capital Management | 37. Capital Management The Company’s capital management is intended to create value for shareholders by facilitating the meeting of long-term and short-term goals of the Company. The Company determines the amount of capital required on the basis of annual operating plans and long-term product and other strategic investment plans. The funding requirements are met through equity, convertible and non-convertible The Company monitors the capital structure on the basis of total debt to equity ratio and maturity profile of the overall debt portfolio of the Company. Total debt includes all long and short-term debts as disclosed in notes 21 and 22 to the consolidated financial statements. Equity comprises all components excluding (profit)/loss on cash flow hedges and foreign currency translation reserve. The following table summarizes the capital of the Company: As at March 31, 2023 2023 2022 (In millions) Equity* US$ 5,637.7 Rs. 463,254.4 Rs. 410,673.3 Short-term borrowings and current portion of long-term debt 4,498.3 369,646.6 419,178.7 Long-term debt 10,792.9 886,850.0 977,483.5 Total debt 15,291.2 1,256,496.6 1,396,662.2 Total capital (Debt + Equity) US$ 20,928.9 Rs. 1,719,751.0 Rs. 1,807,335.5 * Details of equity : As at March 31, 2023 2023 2022 (In millions) Total equity as reported in balance sheet US$ 5,833.7 Rs. 479,355.5 Rs. 440,564.6 Currency translation reserve attributable to - Shareholders of Tata Motors Limited (1,176.0 ) (96,628.6 ) (88,560.6 ) - Non-controlling (5.7 ) (465.9 ) (265.4 ) Hedging reserve 862.9 70,905.2 59,799.0 Cost of hedge reserve 122.8 10,088.2 (864.3 ) Equity as reported above US$ 5,637.7 Rs. 463,254.4 Rs. 410,673.3 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Financial Instruments | 38. Financial Instruments 38A. Accounting policy i) Recognition A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments are recognized on the balance sheet when the Company becomes a party to the contractual provisions of the instrument. Initial measurement Initially, a financial instrument is recognised at its fair value. Transaction costs directly attributable to the acquisition or issue of financial instruments are recognised in determining the carrying amount, if it is not classified as at fair value through profit or loss. Transaction costs of financial instruments carried at fair value through profit or loss are expensed in profit or loss. Subsequently, financial instruments are measured according to the category in which they are classified. Classification and measurement – financial assets Classification of financial assets is based on the business model in which the instruments are held as well as the characteristics of their contractual cash flows. The business model is based on management’s intention and past pattern of transactions. Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. The Company reclassifies financial assets when and only when its business model for managing those assets changes. Financial assets are classified into three categories Financial assets at amortized cost: Financial assets at fair value through other comprehensive income (Equity instruments): Dividends from these equity investments are recognized in the consolidated income statement when the right to receive payment has been established. Financial assets at fair value through other comprehensive income (Debt instruments): Financial assets at fair value through profit and loss: Derivatives which are not designated as hedging instruments are recognized at fair value through profit or loss. Classification and measurement – financial liabilities: Financial liabilities are classified as subsequently measured at amortised cost unless they meet the specific criteria to be recognised at fair value through profit or loss. Other financial liabilities are measured at amortised cost using the effective interest method. Subsequent to initial recognition, these are measured at fair value with gains or losses being recognised in profit or loss. Financial guarantee contracts: These are initially measured at their fair values and, are subsequently measured at the higher of the amount of loss allowance determined or the amount initially recognized less, the cumulative amount of income recognized. Equity instruments: ii) Determination of fair value: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. The fair value of a financial instrument on initial recognition is normally the transaction price (fair value of the consideration given or received). In estimating the fair value of an asset or liability, the Group takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Subsequent to initial recognition, the Company determines the fair value of financial instruments that are quoted in active markets using the quoted bid prices (financial assets held) or quoted ask prices (financial liabilities held) and using valuation techniques for other instruments. Valuation techniques include discounted cash flow method and other valuation methods. iii) Derecognition of financial assets and financial liabilities: The Company derecognizes a financial asset only when the contractual rights to the cash flows from the asset expires or it transfers the financial asset and substantially all the risk and rewards of ownership of the asset to another entity. If the Company neither transfers nor retains substantially all the risks and rewards of the ownership and continues to control the transferred asset, the Company recognizes its retained interest in the asset and an associated liability for the amounts it may have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. Any gain or loss arising on derecognition is recognised in profit or loss. When a financial instrument is derecognized, the cumulative gain or loss in equity (if any) is transferred to the consolidated income statement unless it was an equity instrument electively held at fair value through other comprehensive income. In this case, any cumulative gain or loss in equity is transferred to retained earnings. Financial assets are written off when there is no reasonable expectation of recovery. The Company reviews the facts and circumstances around each asset before making a determination. Financial assets that are written off could still be subject to enforcement activities. Financial liabilities are derecognized when these are extinguished, that is when the obligation is discharged, cancelled or has expired. Disclosures on financial instruments 38B. This section gives an overview of the significance of financial instruments for the Company and provides additional information on balance sheet items that contain financial instruments. Financial assets and liabilities The following table presents the carrying amounts and fair value of each category of financial assets and liabilities as at March 31, 2023. (a) Financial assets Cash and other financial assets at amortized cost Non-Derivative Financial assets at fair value Derivatives other than in hedging relationship (at fair value through Derivatives in hedging relationship (at fair value) Total carrying value Total fair value Total carrying value Total fair value (In millions) Cash and cash equivalents Rs. 318,869.5 Rs. — Rs. — Rs. — Rs. 318,869.5 Rs. 318,869.5 US$ 3,880.6 US$ 3,880.6 Short-term deposits 44,870.9 — — — 44,870.9 44,870.9 546.1 546.1 Finance receivables 138,098.9 170,238.4 — — 308,337.3 309,352.8 3,752.5 3,764.8 Trade receivables 157,379.7 — — — 157,379.7 157,379.7 1,915.3 1,915.3 Other investments - non-current 10,760.0 17,891.9 — — 28,651.9 28,651.9 348.7 348.7 Other investments - current 147,618.2 40,764.8 — — 188,383.0 188,383.0 2,292.6 2,292.6 Other financial assets -current 45,735.8 — 6,793.1 4,781.8 57,310.7 57,310.7 697.5 697.5 Other financial assets- non-current 52,123.0 — 10,378.4 16,481.7 78,983.1 78,983.1 961.2 961.2 Total Rs. 915,456.0 Rs. 228,895.1 Rs. 17,171.5 Rs. 21,263.5 Rs. 1,182,786.1 Rs. 1,183,801.6 US$ 14,394.5 US$ 14,406.8 Financial liabilities Other financial liabilities (at amortized cost) Other Derivatives other than in hedging relationship (at fair value) Derivatives in hedging relationship (at fair value) Total carrying value Total fair value Total carrying value Total fair value (In millions) Accounts payable Rs. 760,389.7 Rs. — Rs. — Rs. 760,389.7 Rs. 760,389.7 US$ 9,253.9 US$ 9,253.9 Acceptances 71,960.1 — — 71,960.1 71,960.1 875.7 875.7 Short-term debt (excluding current portion of long-term debt) 140,668.3 — — 140,668.3 140,668.3 1,711.9 1,711.9 Long-term debt (including current portion of long-term debt) (refer note below) 1,115,828.3 — — 1,115,828.3 1,089,877.7 13,579.5 13,263.7 Other financial liabilities -current 63,706.3 5,974.3 37,848.0 107,528.6 107,528.6 1,308.6 1,308.6 Other financial liabilities- non-current 80,075.0 25,000.0 5,808.2 48,032.8 158,916.0 158,916.0 1,934.0 1,934.0 Total Rs. 2,232,627.7 Rs. 25,000.0 Rs. 11,782.5 Rs. 85,880.8 Rs. 2,355,291.0 Rs. 2,329,340.4 US$ 28,663.6 US$ 28,347.8 Note: 1 Includes Rs.77,575.7 million designated as hedged item in fair value hedge relationship. This includes a loss of Rs.6,488.9 million on account of fair value changes attributable to the hedged interest rate risk. 2 Includes Rs.109,166.5 million (GBP1,074 million) designated as hedging instruments in net investment hedge relationship. The following table presents the carrying amounts and fair value of each category of financial assets and liabilities as at March 31, 2022. Financial assets Cash and other financial assets at cost Non-Derivative Derivatives in hedging profit or loss) Derivatives in hedging Total carrying value Total fair value (In millions) Cash and cash equivalents Rs. 381,590.1 Rs. — Rs. — Rs. — Rs. 381,590.1 Rs. 381,590.1 Short-term deposits 20,375.8 — — — 20,375.8 20,375.8 Finance receivables 191,409.2 140,902.9 — — 332,312.1 334,954.9 Trade receivables 124,421.2 — — — 124,421.2 124,421.2 Other investments - non-current 5,426.1 17,783.1 — — 23,209.2 23,209.2 Other investments - current 169,051.0 58,041.2 — — 227,092.2 227,092.2 Other financial assets - current 40,258.6 — 13,334.3 5,850.6 59,443.5 59,443.5 Other financial assets - non-current 40,052.5 — 12,229.9 7,946.0 60,228.4 60,228.4 Total Rs. 972,584.5 Rs. 216,727.2 Rs. 25,564.2 Rs. 13,796.6 Rs. 1,228,672.5 Rs. 1,231,315.3 Financial liabilities Other financial liabilities (at cost) Other Derivatives Derivatives Total carrying value Total fair value (In millions) Accounts payable Rs. 649,452.8 Rs. — Rs. — Rs. 649,452.8 Rs. 649,452.8 Acceptances 97,799.5 — — 97,799.5 97,799.5 Short-term debt (excluding current portion of long-term debt) 173,783.7 — — 173,783.7 173,783.7 Long-term debt (including current portion of long-term debt) (refer note below) 1,222,878.4 — — 1,222,878.4 1,223,740.8 Other financial liabilities - current 58,115.2 3,060.0 41,374.2 102,549.4 102,549.4 Other financial liabilities -non-current 66,313.2 12,500.0 5,297.4 28,858.0 112,968.6 115,880.1 Total Rs. 2,268,342.8 Rs. 12,500.0 Rs. 8,357.4 Rs. 70,232.2 Rs. 2,359,432.4 Rs. 2,363,206.2 Note: 1 Includes Rs.74,735.6 million designated as hedged item in fair value hedge relationship. This includes a loss of Rs.6,780.5 million on account of fair value changes attributable to the hedged interest rate risk. 2 Includes Rs.91,833 million (GBP924 million) designated as hedging instruments in net investment hedge relationship. Fair Value Hierarchy The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Level 1 to Level 3, as described below. Quoted prices in an active market (Level 1): This level of hierarchy includes financial instruments that are measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities. This category consists quoted equity shares, quoted corporate debt instruments and mutual fund investments. Valuation techniques with observable inputs (Level 2): This level of hierarchy includes financial assets and liabilities, measured using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices). This level of hierarchy includes Company’s over-the-counter Valuation techniques with significant unobservable inputs (Level 3): This level of hierarchy includes financial assets and liabilities measured using inputs that are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor based on available market data. The main items in this category are unquoted financial assets, measured at fair value. As at March 31, 2023 Level 1 Level 2 Level 3 Total (In millions) Financial assets measured at fair value Investments Rs. 47,341.7 Rs. — Rs. 11,315.0 Rs. 58,656.7 Derivative assets — 38,435.0 — 38,435.0 Finance receivables — — 170,238.4 170,238.4 Total Rs. 47,341.7 Rs. 38,435.0 Rs. 181,553.4 Rs. 267,330.1 US$ 576.1 US$ 467.7 US$ 2,209.5 US$ 3,253.3 Financial liabilities measured at fair value Derivative liabilities Rs. — Rs. 97,663.3 Rs. — Rs. 97,663.3 Financial Liabilities — — 25,000.0 25,000.0 Total Rs. — Rs. 97,663.3 Rs. 25,000.0 Rs. 122,663.3 US$ — US$ 1,188.6 US$ 304.2 US$ 1,492.8 Costs of certain unquoted equity instruments have been considered as an appropriate estimate of fair value because these investments are subject to a wide range of possible fair value measurements and cost represents the best estimate of fair value within that range. These investments in equity instruments are not held for trading. Instead, they are held for medium or long-term strategic purpose. Upon the application of IFRS 9, the Company has chosen to designate these investments in equity instruments as at FVTOCI as the management believe that this provides a more meaningful presentation for medium or long-term strategic investments, than reflecting changes in fair value in profit or loss. Fair values of forward derivatives and commodity swap contracts are estimated by discounting expected future contractual cash flows using prevailing market interest rate curves. Option contracts are fair valued using standard options pricing methodology, based on prevailing market interest rates and volatility. Reconciliation of financial assets measured at fair value using significant unobservable For the year ended March 31, 2023 2023 2022 Balance at the beginning US$ 1,839.7 Rs. 151,171.9 Rs. 88,578.0 Originated or purchased during the period 857.5 70,464.0 101,887.9 Interest accrued on loans measured at FVOCI (4.7 ) (385.3 ) 398.8 Disposals during the period (460.2 ) (37,813.4 ) (40,748.7 ) Loan loss provision recognised (18.5 ) (1,518.6 ) (1,383.9 ) Fair value changes recognized through OCI (10.1 ) (832.7 ) 2,122.0 Fair value changes recognized through P & L 5.5 453.9 209.1 Foreign exchange translation difference 0.2 13.6 108.7 Balance at the end US$ 2,209.4 Rs. 181,553.4 Rs. 151,171.9 As at March 31, 2022 Level 1 Level 2 Level 3 Total (In millions) Financial assets measured at fair value Investments Rs. 65,555.3 Rs. — Rs. 10,269.0 Rs. 75,824.3 Derivative assets — 39,360.8 — 39,360.8 Finance receivables — — 140,902.9 140,902.9 Total Rs. 65,555.3 Rs. 39,360.8 Rs. 151,171.9 Rs. 256,088.0 Financial liabilities measured at fair value Derivative liabilities Rs. — Rs. 78,589.6 Rs. — Rs. 78,589.6 Financial Liabilities — — 12,500.0 12,500.0 Total Rs. — Rs. 78,589.6 Rs. 12,500.0 Rs. 91,089.6 There have been no transfers between level 1, level 2 and level 3 for the year ended March 31, 2023 and 2022. The following table provides an analysis of fair value of financial instruments that are not measured at fair value on recurring basis, grouped into Level 1 to Level 3 categories As at March 31, 2023 Level 1 Level 2 Level 3 Total (In millions) Financial assets not measured at fair value Finance receivables Rs. — Rs. — Rs. 139,114.4 Rs. 139,114.4 Other investments 158,378.2 — — 158,378.2 Total Rs. 158,378.2 Rs. — Rs. 139,114.4 Rs. 297,492.6 US$ 1,927.4 US$ — US$ 1,693.0 US$ 3,620.4 Financial liabilities not measured at fair value Short-term debt (excluding current portion of long-term debt) Rs. — Rs. 140,668.2 Rs. — Rs. 140,668.2 Long-term debt (including current portion of long-term debt) 424,038.7 665,839.0 — 1,089,877.7 Total Rs. 424,038.7 Rs. 806,507.3 Rs. — Rs. 1,230,546.0 US$ 5,160.5 US$ 9,815.2 US$ — US$ 14,975.7 As at March 31, 2022 Level 1 Level 2 Level 3 Total (In millions) Financial assets not measured at fair value Finance receivables Rs. — Rs. — Rs. 194,052.0 Rs. 194,052.0 Other investments 174,477.1 — — 174,477.1 Total Rs. 174,477.1 Rs. — Rs. 194,052.0 Rs. 368,529.1 Financial liabilities not measured at fair value Short-term debt (excluding current portion of long-term debt) Rs. — Rs. 173,783.8 Rs. — Rs. 173,783.8 Long-term debt (including current portion of long-term debt) 571,882.4 651,858.4 — 1,223,740.8 Total Rs. 571,882.4 Rs. 825,642.2 Rs. — Rs. 1,397,524.6 Other short-term financial assets and liabilities are stated at amortized cost which is approximately equal to their fair value. The fair value of finance receivables has been estimated by discounting expected cash flows using rates at which loans of similar credit quality and maturity would be made and internal assumptions such as expected credit losses and estimated collateral value for repossessed vehicles as at March 31, 2022 and 2021. Since unobservable inputs are applied, finance receivables are classified in Level 3. The fair value of borrowings which have a quoted market price in an active market is based on its market price and for other borrowings the fair value is estimated by discounting expected future cash flows, using a discount rate equivalent to the risk-free rate of return, adjusted for the credit spread considered by the lenders for instruments of similar maturity. Management uses its best judgment in estimating the fair value of its financial instruments. However, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented above are not necessarily indicative of all the amounts that the Company could have realized or paid in sale transactions as of respective dates. As such, the fair value of the financial instruments subsequent to the respective reporting dates may be different from the amounts reported at each year end. Offsetting Certain financial assets and financial liabilities are subject to offsetting where there is currently a legally enforceable right to set off recognized amounts and the Company intends to either settle on a net basis, or to realize the asset and settle the liability, simultaneously. Certain derivative financial assets and financial liabilities are subject to master netting arrangements, whereby in the case of insolvency, derivative financial assets and financial liabilities will be settled on a net basis. The following table discloses the amounts that have been offset, in arriving at the balance sheet presentation and the amounts that are available for offset only under certain conditions as at March 31, 2023: Gross amount recognized Gross amount recognized as set off in the balance sheet Net amount presented in the balance sheet Amounts subject to an enforceable Net amount after offsetting Financial assets Financial instruments Cash collateral (received/ pledged) (In millions) Derivative financial instruments Rs. 38,435.0 Rs. — Rs. 38,435.0 Rs. (20,555.7 ) Rs. — Rs. 17,879.3 Trade receivables 161,552.0 (4,172.3 ) 157,379.7 — — 157,379.7 Cash and cash equivalents 342,856.7 (23,987.2 ) 318,869.5 — — 318,869.5 Total Rs. 542,843.7 Rs. (28,159.5) Rs. 514,684.2 Rs. (20,555.7 ) Rs. — Rs. 494,128.5 US$ 6,606.3 US$ (342.7) US$ 6,263.7 US$ (250.2 ) US$ — US$ 6,013.5 Financial liabilities Derivative financial instruments Rs. 97,663.3 Rs. — Rs.97,663.3 Rs. (20,555.7 ) Rs. — Rs. 77,107.6 Accounts payable 764,562.0 (4,172.3 ) 760,389.7 — — 760,389.7 Loans from banks/financial institutions (short-term) 115,709.3 (23,987.2 ) 91,722.1 — — 91,722.1 Total Rs. 977,934.6 Rs. (28,159.5) Rs. 949,775.1 Rs. (20,555.7 ) Rs. — Rs. 929,219.4 US$ 11,901.4 US$ (342.7) US$ 11,558.7 US$ (250.2 ) US$ — US$ 11,308.5 The following table discloses the amounts that have been offset in arriving at the balance sheet presentation and the amounts that are available for offset only under certain conditions as at March 31, 2022: Gross amount recognized Gross amount recognized as set off in the balance sheet Net amount presented in the balance sheet Amounts subject to an enforceable Net amount after offsetting Financial assets Financial instruments Cash collateral (received/ pledged) (In millions) Derivative financial instruments Rs. 39,360.8 Rs. — Rs. 39,360.8 Rs. (28,168.9) Rs. — Rs. 11,191.9 Trade receivables 124,437.6 (16.4 ) 124,421.2 — — 124,421.2 Cash and cash equivalents 397,299.0 (15,708.9 ) 381,590.1 — — 381,590.1 Total Rs. 561,097.4 Rs. (15,725.3) Rs. 545,372.1 Rs. (28,168.9) Rs. — Rs. 517,203.2 Financial liabilities Derivative financial instruments Rs. 78,589.6 Rs. — Rs. 78,589.6 Rs. (28,168.9) Rs. — Rs. 50,420.7 Accounts payable 649,469.2 (16.4 ) 649,452.8 — — 649,452.8 Loans from banks/financial institutions (short-term) 128,510.9 (15,708.9 ) 112,802.0 — — 112,802.0 Total Rs. 856,569.7 Rs. (15,725.3) Rs. 840,844.4 Rs. (28,168.9) Rs. — Rs. 812,675.5 (b) Transfer of financial assets The Company transfers finance receivables through securitization transactions and direct assignments. In such transactions the Company surrenders control over the receivables, though it continues to act as an agent for the collection of receivables. In most of these transactions, the Company also provides credit enhancements to the transferee. Because of the existence of credit enhancements in such transactions, the Company continues to have the obligation to pay to the transferee, limited to the extent of credit enhancement, even if it does not collect the equivalent amounts from the original asset and continues to retain substantially all risks and rewards associated with the receivables, and hence, such transfer or assignment does not meet the derecognition criteria resulting into the transfer not being recorded as sale. Consequently, the proceeds received from the transfer are recorded as collateralized debt obligation. Further the Company transfers certain trade receivables under the debt factoring arrangements. These do not qualify for derecognition, due to existence of the recourse arrangement. Consequently the proceeds received from transfer are recorded as loans from banks / financial institutions and classified under short-term borrowings. The carrying amount of trade receivables and finance receivables transferred along with the associated liabilities is as follows: As at March 31, 2023 2023 2022 Nature of Asset Carrying Carrying Carrying Carrying Carrying Carrying (In millions) Trade receivables US$ — US$ — Rs. — Rs. — Rs. 318.0 Rs. 318.0 Finance receivables US$ 13.0 US$ 9.1 Rs. 1,069.1 * Rs. 748.7 Rs. 12,464.8 * Rs. 11,817.2 * Net of provision of Rs.26 million and Rs.239.5 million as at March 31, 2023 and 2022, respectively. (c) Cash flow hedges Accounting policy The Company uses foreign currency forward and option contracts to hedge its risks associated with foreign currency fluctuations relating to highly probable forecast transactions and future payments in foreign currency for certain outstanding liabilities denominated in foreign currencies. The Company designates these forward and option contracts in a cash flow hedging relationship by applying hedge accounting principles. The Group also uses interest rate swaps to hedge its variability in cash flows from interest payments arising from floating rate liabilities i.e. when interests are paid according to benchmark market interest rates. Derivative contracts are stated at fair value on the consolidated balance sheet at each reporting date. At inception of the hedge relationship, the Company documents the economic relationship between the hedging instrument and the hedged item, including whether changes in the cash flows of the hedging instrument are expected to offset changes in the cash flows of the hedged item. The Company documents its risk management objective and strategy for undertaking its hedging transactions. The Company designates only the intrinsic value of foreign exchange options in the hedging relationship. The Company designates amounts excluding foreign currency basis spread in the hedging relationship for both foreign exchange forward contracts and cross-currency interest rate swaps. Changes in the fair value of the derivative contracts that are designated and effective as hedges of future cash flows are recognised in the cash flow hedge reserve within other comprehensive income (net of tax), and any ineffective portion is recognised immediately in the consolidated income statement. Amounts accumulated in equity are reclassified to the consolidated income statements in the periods in which the forecasted transaction occurs. Forward element and time value of forwards and options are not considered as part of the hedge. These are treated as cost of hedge and the changes in fair value attributable to time value is recognized in the other comprehensive income along with the changes in fair value determined to be effective portion of the hedge. For hedges of forecast transactions, time value of options and forward element on forward contracts are considered as cost of transaction related hedge and accordingly any changes in their fair value is recognized in other comprehensive income and subsequently reclassified to consolidated income statement when the forecast transaction affects the consolidated income statement or recognized in the carrying value of asset when the forecasted transaction is for purchase of an asset. Effective portion of fair value changes in forward contracts and options designated as hedges against foreign currency fluctuations arising on certain liabilities denominated in foreign currency are recognized in other comprehensive income and reclassified to consolidated income statement when the underlying liabilities affect the consolidated income statement. The time value of options and forward element of forward contracts designated as hedges of underlying foreign currency liabilities are considered as cost of time period related hedged item and accordingly amortized and recognized in the consolidated income statement over the tenure of the contract. The Company also uses interest rate swaps to hedge its variability in cash flows from interest payments arising from floating rate liabilities i.e. when interests are paid according to benchmark market interest rates. Effective portion of fair value changes on such interest rate swaps are recognized in other comprehensive income and accumulated in hedge reserve and reclassified to consolidated income statement when the hedged risk affects the consolidated income statement. Any ineffective portion of the fair value changes of hedging instruments are recognized in the consolidated income statement. The Company has designated certain non-derivative non-derivative Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. Amounts accumulated in equity are reclassified to the consolidated income statement in the periods in which the forecast transactions affect profit or loss or as an adjustment to a non-financial For forecast transactions, any cumulative gain or loss on the hedging instrument recognized in equity is retained there until the forecast transaction occurs. If the forecast transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is immediately transferred to the consolidated income statement for the year. The Company has designated a number of financial instruments in hedging relationship. The Company uses foreign currency forward and option contracts, cross currency interest rate swaps and other currency options to hedge changes in future cash flows as a result of foreign currency and interest rate risk arising from forecasted sales and purchases and repayment of foreign currency bonds. The Company has also designated some of its U.S. dollar denominated bonds as hedging instruments in a cash flow hedging relationship to hedge the changes in future cash flows as a result of foreign currency risk arising from future anticipated sales The Company also has a number of foreign currency options and other currency options, which are entered into as an economic hedge of the financial risks of the Company. These contracts do not meet the hedge accounting criteria , hence the change in fair value of these derivatives are recognized in the income statement. Options are designated on spot discounted basis. The time value of options are identified as cost of hedge. Changes in the time value of options are recognized in cost of hedge reserve to the extent they relate to the hedged item. Changes in the spot intrinsic value of options is recognized in hedge reserve. Changes in fair value arising from own and counterparty credit risk in options and forward exchange contracts are considered ineffective in the hedge relationship and thus the change in fair value of options & forward exchange contracts attributable to changes in credit spread are recognized in the consolidated income statement. Cross currency basis spread was historically included in the hedging relationship. Cross currency basis spread arising from forward exchange contracts is identified as cost of hedge and accordingly changes in fair value attributable to this is recognized in cost of hedge reserve to the extent they relate to the hedged item. Changes in fair value of foreign currency derivative and bonds, to the extent determined to be an effective hedge, is recognized in other comprehensive income and the ineffective portion of the fair value change is recognized in the consolidated income statement. The fair value gain/losses recorded in hedge reserve and cost of hedge reserve is recognized in the consolidated income statement when the forecasted transactions affects profit or loss. The accumulated gain/losses in hedge reserve and cost of hedge reserve are expected to be recognized in the consolidated income statement during the years ending March 31, 2024 to 2026. It is anticipated that the hedged sales will take place over the next one to five years, at which time the amount deferred in equity will be reclassified to revenue in the consolidated income statement. It is anticipated that the hedged purchases will take place over the next one to five years, at which time the amount deferred in equity will be included in the carrying amount of the raw materials. On sale of the finished product, the amount previously deferred in equity and subsequently recognised in inventory will be reclassified to raw materials, components, and consumables in the consolidated income statement. In light of the impact of COVID-19 Year ended March 31, 2023 2023 2022 2021 (In millions) Fair value gain/(loss) on foreign currency derivative contracts recognized in Hedging reserve US$ (961.4 ) Rs (78,995.0 ) Rs. (78,778.3 ) Rs. 65,674.3 Fair value gain/(loss) on foreign currency bonds recognized in Hedging reserve 65.4 5,373.6 (3,824.1 ) (21,527.6 ) Fair value gain/(loss) on cross currency interest rate swaps entered for cash flow hedges of repayment of foreign currency denominated borrowings recognized in Hedging reserve 6.2 509.6 (52.5 ) 294.1 Fair value gain/(loss) on interest rate swaps entered for cash flow hedges of payment of interest on borrowings that are benchmarked to libor — — — (192.10 ) Gain/(loss) recognized in other comprehensive income during the year US$ (889.8 ) Rs. (73,111.8 ) Rs. (82,654.9 ) Rs. 44,248.7 Gain/(loss) reclassified from Hedging reserve and recognized in ‘Revenue’ in the income statement on occurrence of forecast sales US$ (711.7 ) Rs. (58,483.8 ) Rs. 7,626.5 Rs. (10,540.1 ) Gain/(loss) reclassified out of Hedging reserve and recorded in ‘Raw materials, components and consumables’ in the income statement when forecast purchases affect income statement (53.9 ) (4,429.1 ) — (1,533.3 ) Gain/(loss) reclassified from Hedging reserve and recognized in ‘Foreign exchange (gain)/loss (net)’ in the income statement for the case where on account of forecasted transactions are no longer expected to occur (14.3 ) (1,177.7 ) 1,051.0 3,320.1 Gain/(loss) reclassified from cost of Hedge reserve and recognized in ‘Foreign exchange (gain)/loss (net)’ in the income statement for the case where on account of forecasted transactions are no longer expected to occur — 25.6 (0.5 ) — Gain/(loss) reclassified from Hedging reserve and recognized in ‘Foreign exchange (gain)/loss (net)’ in the income statement for repayment of foreign currency denominated borrowings — (583.9 ) (1,448.0 ) Gain/(loss) reclassified from other comprehensive income to the consolidated income statement US$ (779.9 ) Rs. (64,065.0 ) Rs. 8,093.1 Rs. (10,201.3 ) (d) Financial risk management In the course of its business, the Company is exposed primarily to fluctuations in foreign currency exchange rates, interest rates, equity prices, liquidity and credit risk, which may adversely impact the fair value of its financial instruments. The Company has a risk manage |
Segment reporting
Segment reporting | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Segment reporting | 39 Segment reporting 39A. Accounting policy The Company primarily operates in the automotive segment. The automotive segment comprises of four reportable segments i.e. Tata Commercial Vehicles, Tata Passenger Vehicles, Jaguar Land Rover and Vehicle Financing. Other operating segments do not meet the quantitative thresholds for disclosure and have been aggregated. The Company primarily operates in the automotive business. The automotive business includes all activities relating to development, design, manufacture, assembly and sale of vehicles including financing thereof, as well as sale of related parts, accessories and services. The Company provides financing for vehicles sold by dealers in India. The vehicle financing is intended to drive sale of vehicles by providing financing to the dealers’ customers and as such is an integral part of automotive business. The operating results for Vehicle Financing has been adjusted only for finance cost for the borrowings sourced by this segment. a) Automotive: The Automotive business consists of four reportable segments: Tata Commercial Vehicles, Tata Passenger Vehicles, Jaguar Land Rover and Vehicle Financing. b) Others: Others consist of IT services and Insurance broking services. This segment information is provided to and reviewed by the Company’s Chief Operating Decision Maker (CODM). For the year ended/As at March 31, 2023 Automotive and related activity Tata and other brand vehicles * Vehicle Jaguar Land Intra-segment Total Others Inter-segment Total Commercial Passenger Unallocable Total (In millions) Revenues: External revenue Rs. 690,696.0 Rs. 457,342.5 Rs. 1,759.1 Rs. 1,149,797.6 Rs. 43,184.3 Rs. 2,216,002.4 Rs. — Rs. 3,408,984.3 Rs. 33,221.0 Rs. — Rs. 3,442,205.3 US$ 41,891.3 Inter-segment/intra-segment revenue Rs. 14,914.4 Rs. 20,006.9 Rs. 879.9 Rs. 35,801.2 Rs. 1,560.5 Rs. 131.9 Rs. (37,493.6 ) Rs. — Rs. 14,793.9 Rs. (14,793.9 ) Rs. — US$ — Total revenues Rs. 705,610.4 Rs. 477,349.4 Rs. 2,639.0 Rs. 1,185,598.8 Rs. 44,744.8 Rs. 2,216,134.3 Rs. (37,493.6 ) Rs. 3,408,984.3 Rs. 48,014.9 Rs. (14,793.9 ) Rs. 3,442,205.3 US$ 41,891.3 Earnings before other income, interest and tax (a) Rs. 31,387.3 3,610.1 (2,792.3 ) 32,205.1 14,504.2 39,741.6 903.5 87,354.4 7,849.9 183.2 95,387.5 1,161.2 Finance costs pertaining to borrowings sourced by vehicle financing segment — — — — (28,845.3 ) — — (28,845.3 ) — — (28,845.3 ) (351.0 ) Segment results Rs. 31,387.3 3,610.1 (2,792.3 ) 32,205.1 (14,341.1 ) 39,741.6 903.5 58,509.1 7,849.9 183.2 66,542.2 810.2 Share of profit/(loss) of equity accounted investees (net) — 1,851.3 1,851.3 — 1,443.4 — 3,294.7 69.1 — 3,363.8 40.9 Reconciliation to net income/(loss): — — Assets written off/loss on sale of assets and others (net) (5,258.9 ) (64.0 ) Other income/(loss) (net) 30,548.5 371.8 Foreign exchange gain/(loss) (net) 1,040.8 12.7 Interest income 12,511.8 152.3 Interest expense (net) (excluding pertaining to borrowings sourced by vehicle financing segment) (73,547.0 ) (895.5 ) Income tax expense (7,040.6 ) (85.7 ) Net Income/(loss) Rs. 28,160.6 US$ 342.7 Depreciation and amortization Rs. 15,653.8 25,120.7 1,388.0 42,162.5 574.6 Rs. 197,949.9 Rs. — Rs. 240,687.0 Rs. 972.7 Rs. (774.0 ) Rs. 240,885.7 US$ 2,931.6 Capital expenditure Rs. 21,810.6 33,468.4 61.5 55,340.5 363.1 Rs. 121,607.1 Rs. — Rs. 177,310.7 Rs. 630.8 Rs. (622.7 ) Rs. 177,318.8 US$ 2,158.0 Segment assets Rs. 271,652.2 Rs. 180,564.1 Rs. 12,758.3 Rs. 464,974.6 Rs. 356,509.6 Rs. 1,776,973.6 Rs. (23,909.4 ) Rs. 2,574,548.4 Rs. 40,514.4 Rs. (12,267.6 ) Rs. 2,602,795.2 US$ 31,675.7 Assets classified as held for sale 46.6 46.6 1,920.1 6,296.3 — 8,263.0 — 8,263.0 100.6 Investment in equity accounted investees — — 7,160.1 7,160.1 33,494.2 — 40,654.2 6,102.4 46,756.6 569.0 Reconciliation to total assets: Investments 217,034.9 2,641.3 Current and non-current 18,156.3 221.0 Deferred income taxes 51,846.7 630.8 Other unallocated financial assets 1 332,539.2 4,047.2 Total assets Rs. 3,277,392.0 US$ 39,885.6 Segment liabilities Rs. 223,696.4 Rs. 126,188.9 Rs. 12,522.7 Rs. 362,408.0 Rs. 12,413.7 Rs. 1,028,633.5 Rs. (22,573.7 ) Rs. 1,380,881.5 Rs. 22,521.2 Rs. (3,124.6 ) Rs. 1,400,278.1 US$ 17,041.2 Reconciliation to total liabilities: Borrowings 1,256,496.6 15,291.2 Current income tax liabilities 12,542.0 153.0 Deferred income taxes 14,069.5 171.2 Other unallocated financial liabilities 2 114,650.3 1,395.5 Total liabilities Rs. 2,798,036.5 US$ 34,051.9 * Tata and other brand vehicles include Tata Daewoo and Fiat brand vehicles. 1. Includes interest-bearing deposits and accrued interest income. 2. Includes interest accrued and other interest bearing liabilities. a. Earnings before other income, interest and tax is Earnings before share of profit/(loss) of equity accounted investees (net), assets written off/loss on sale of assets and others (net), other income/(loss) (net) foreign exchange gains/(loss) (net), interest income, interest expense (net) and income tax expense. For the year ended/As at March 31, 2022 Tata and other brand vehicles * Vehicle Jaguar Land Intra- Total Others Inter-segment Total Commercial Passenger Unallocable Total (In millions) Revenues: External revenue Rs. 521,107.8 Rs. 309,171.8 Rs. 2,258.6 Rs. 832,538.2 Rs. 42,113.4 Rs. 1,864,426.3 Rs. — Rs. 2,739,077.9 Rs. 26,689.0 Rs. — Rs. 2,765,766.9 Inter-segment/intra-segment revenue Rs. (2,090.5 Rs. 5,280.0 Rs. — Rs. 3,189.5 Rs. 2,090.5 Rs. — Rs. (5,280.0 Rs. — Rs. 11,351.8 Rs. (11,351.8 Rs. — Total revenues Rs. 519,017.3 Rs. 314,451.8 Rs. 2,258.6 Rs. 835,727.7 Rs. 44,203.9 Rs. 1,864,426.3 Rs. (5,280.0 ) Rs. 2,739,077.9 Rs. 38,040.8 Rs. (11,351.8 ) Rs. 2,765,766.9 Earnings before other income, interest and tax (a) Rs. (3,560.7 (13,174.4 ) (1,374.6 ) (18,109.7 ) 23,163.2 (41,623.5 ) — (36,570.0 ) 6,146.4 537.5 (29,886.1 ) Finance costs pertaining to borrowings sourced by vehicle financing segment — — — — (27,189.3 ) — — (27,189.3 ) — — (27,189.3 ) Segment results Rs. (3,560.7 ) (13,174.4 ) (1,374.6 ) (18,109.7 ) (4,026.1 ) (41,623.5 ) — (63,759.3 ) 6,146.4 537.5 (57,075.4 ) Share of profit/(loss) of equity accounted investees (net) — — 1,224.4 1,224.4 — (2,055.7 ) — (831.3 ) 90.7 — (740.6 ) Reconciliation to net income/(loss): — Assets written off/loss on sale of assets and others (net) 555.4 Other income/(loss) (net) 47,720.8 Foreign exchange gain/(loss) (net) (805.8 ) Interest income 6,252.1 Interest expense (net) (excluding pertaining to borrowings sourced by vehicle financing segment) (66,073.8 ) Income tax expense (42,204.9 ) Net Income/(loss) Rs. (112,372.2 ) Depreciation and amortization Rs. 16,863.5 22,306.9 1,499.3 40,669.7 597.0 Rs. 198,037.6 Rs. — Rs. 239,304.3 Rs. 12.8 Rs. — Rs. 239,317.1 Capital expenditure Rs. 19,945.9 6,239.5 10.0 26,195.4 204.3 Rs. 118,549.4 Rs. — Rs. 144,949.1 Rs. 446.7 Rs. — Rs. 145,395.8 Segment assets Rs. 272,906.4 Rs. 142,362.9 Rs. 6,289.8 Rs. 421,559.1 Rs. 385,446.7 Rs. 1,689,542.5 Rs. — Rs. 2,496,548.3 Rs. 34,650.0 Rs. (11,294.3 ) Rs. 2,519,904.0 Assets classified as held for sale 334.5 64.8 399.3 4,499.0 58.7 — 4,957.0 — 4,957.0 Investment in equity accounted investees — — 5,542.5 5,542.5 31,929.9 — 37,472.4 6,021.5 43,493.9 Reconciliation to total assets: Investments 250,301.4 Current and non-current 14,566.3 Deferred income taxes 38,708.7 Other unallocated financial assets 1 351,671.4 Total assets Rs. 3,223,602.7 Segment liabilities Rs. 210,850.4 Rs. 109,216.0 Rs. 2,095.5 Rs. 322,161.9 Rs. 9,662.0 Rs. 913,816.1 Rs. (886.0 ) Rs. 1,244,754.0 Rs. 20,201.5 Rs. (2,697.8 ) Rs. 1,262,257.7 Reconciliation to total liabilities: Borrowings 1,396,662.2 Current income tax liabilities 12,538.5 Deferred income taxes 15,584.4 Other unallocated financial liabilities 2 95,995.3 Total liabilities Rs. 2,783,038.1 * Tata and other brand vehicles include Tata Daewoo and Fiat brand vehicles. 1. Includes interest-bearing deposits and accrued interest income. 2. Includes interest accrued and other interest bearing liabilities. a. Earnings before other income, interest and tax is Earnings before share of profit/(loss) of equity accounted investees (net), assets written off/loss on sale of assets and others (net), other income/(loss) (net) foreign exchange gains/(loss) (net), interest income, interest expense (net) and income tax expense. For the year ended/ As at March 31, 2021 Automotive and related activity Tata and other brand vehicles * Commercial Passenger Unallocable Total Vehicle Jaguar Land Intra- eliminations Total Others Inter- Total (In millions) Revenues: External revenue Rs. 331,779.3 Rs. 165,188.4 Rs. 156.3 Rs. 497,123.9 Rs. 41,801.9 Rs. 1,926,616.6 Rs. — Rs. 2,465,542.5 Rs. 16,088.9 Rs. — Rs. 2,481,631.4 Inter-segment/intra-segment revenue Rs. (2,124.0 Rs. — Rs. — Rs. (2,124.0 Rs. 2,124.0 Rs. — Rs. — Rs. — Rs. 9,987.3 Rs. (9,987.3 Rs. — Total revenues Rs. 329,655.3 Rs. 165,188.4 Rs. 156.3 Rs. 494,999.9 Rs. 43,926.0 Rs. 1,926,616.6 Rs. — Rs. 2,465,542.5 Rs. 26,076.2 Rs. (9,987.3 ) Rs. 2,481,631.4 Earnings before other income, interest and tax (a) Rs. (6,058.8 (11,019.4 ) (4,042.2 ) (21,120.4 ) 26,961.7 (104,041.0 ) — (98,199.7 ) 2,943.4 667.0 (94,589.3 ) Finance costs pertaining to borrowings sourced by vehicle financing segment — — — — (28,514.5 ) — — (28,514.5 ) — — (28,514.5 ) Segment results (6,058.8 ) (11,019.4 ) (4,042.2 ) (21,120.4 ) (1,552.8 ) (104,041.0 ) — (126,714.2 ) 2,943.4 667.0 (123,103.8 ) Share of profit/(loss) of equity accounted investees (net) — — (406.8 ) (406.8 ) — (3,633.2 ) — (4,040.0 ) 250.4 — (3,789.6 ) Reconciliation to net income/(loss): — Assets written off/loss on sale of assets and others (net) (3,094.6 ) Other income/(loss) (net) 42,368.1 Foreign exchange gain/(loss) (net) 18,293.3 Interest income 4,925.3 Interest expense (net) (excluding pertaining to borrowings sourced by vehicle financing segment) (52,326.0 ) Income tax (expense)/credit (25,410.7 ) Net Income/(loss) Rs. (142,138.0 ) Depreciation and amortization Rs. 16,462.1 19,975.5 1,574.9 38,012.5 613.6 Rs. 191,306.9 Rs. — Rs. 229,933.0 Rs. 966.2 Rs. (1,261.1 Rs. 229,638.1 Capital expenditure Rs. 11,805.6 10,018.4 (792.6 ) 21,031.4 284.4 Rs. 157,274.5 Rs. — Rs. 178,590.3 Rs. (391.6 Rs. — Rs. 178,198.7 Segment assets Rs. 239,776.8 Rs. 145,351.1 Rs. 19,413.9 Rs. 404,541.8 Rs. 395,655.5 Rs. 1,755,109.8 Rs. — Rs. 2,555,307.1 Rs. 24,775.8 Rs. (12,698.9 ) Rs. 2,567,384.0 Assets classified as held for sale 2,208.0 2,208.0 — 2,208.0 — 2,208.0 Investment in equity accounted investees — — 4,271.4 4,271.4 31,825.3 — 36,096.7 5,911.2 42,007.9 Reconciliation to total assets: Investments 204,194.8 Current and non-current 18,686.1 Deferred income taxes 45,203.5 Other unallocated financial assets 1 463,110.0 Total assets Rs. 3,342,794.4 Segment liabilities Rs. 179,652.4 Rs. 60,109.9 Rs. 11,061.6 Rs. 250,823.9 Rs. 8,373.2 Rs. 1,105,896.9 Rs. — Rs. 1,365,094.0 Rs. 15,084.6 Rs. (2,714.7 ) Rs. 1,377,463.9 Reconciliation to total liabilities: Borrowings 1,358,937.1 Current income tax liabilities 10,864.4 Deferred income taxes 15,558.9 Other unallocated financial liabilities 2 60,834.3 Total liabilities Rs. 2,823,658.6 * Tata and other brand vehicles include Tata Daewoo and Fiat brand vehicles. 1. Includes interest-bearing deposits and accrued interest income. 2. Includes interest accrued and other interest bearing liabilities. a. Earnings before other income, interest and tax is Earnings before share of profit/(loss) of equity accounted investees (net), assets written off/loss on sale of assets and others (net), other income/(loss) (net) foreign exchange gains/(loss) (net), interest income, interest expense (net) an income tax expense. Entity-wide disclosures Information concerning principal geographic areas is as follows: Net sales to external customers by geographic area by location of customers: Year ended March 31, 2023 2023 2022 2021 (In millions) India US$ 13,814.6 Rs. 1,135,142.0 Rs. 802,655.6 Rs. 497,802.5 United States of America 6,337.0 520,713.6 453,456.8 467,580.8 United Kingdom 4,587.2 376,927.0 324,296.6 369,256.4 Rest of Europe 5,203.2 427,547.0 332,145.9 349,545.8 China 5,427.5 445,975.2 426,459.3 445,784.4 Rest of the World 6,521.8 535,900.5 426,752.7 351,661.5 Total revenues US$ 41,891.3 Rs. 3,442,205.3 Rs. 2,765,766.9 Rs. 2,481,631.4 Non-current non-current (non-financial) As at March 31, 2023 2023 2022 (In millions) India US$ 3,075.8 Rs. 252,739.3 Rs. 238,235.2 United States of America 100.0 8,215.1 8,503.3 United Kingdom 12,028.4 988,369.9 1,020,818.6 Rest of Europe 1,046.6 85,997.8 94,377.1 China 169.1 13,892.1 13,073.7 Rest of the World 419.9 34,506.2 35,869.6 Total US$ 16,839.8 Rs. 1,383,720.3 Rs. 1,410,877.5 Information about product revenues: Year ended March 31, 2023 2023 2022 2021 (In millions) Tata and Fiat vehicles (Refer note below) US$ 13,335.4 Rs. 1,095,766.1 Rs. 782,631.3 Rs. 462,990.0 Tata Daewoo commercial vehicles 669.6 55,021.4 53,096.4 32,498.5 Jaguar Land Rover vehicles 26,968.5 2,216,002.4 1,864,426.3 1,926,418.9 Others 404.3 33,220.9 24,494.4 19,243.6 Sub-total 41,377.8 3,400,010.8 2,724,648.4 2,441,151.0 Finance revenues 513.5 42,194.5 41,118.5 40,480.4 Total revenues US$ 41,891.3 Rs. 3,442,205.3 Rs. 2,765,766.9 Rs. 2,481,631.4 Note:- Tata and Fiat vehicles includes the following:- Year ended March 31, 2023 2023 2022 2021 (In millions) Commercial Vehicles US$ 7,736.1 Rs. 635,674.7 Rs. 471,200.9 Rs. 331,779.3 Passenger Vehicles 4,719.8 387,822.5 282,541.8 159,468.4 Electric Vehicles 846.1 69,520.0 26,630.0 5,720.0 Total revenues excluding unallocable US$ 13,302.0 Rs. 1,093,017.2 Rs. 780,372.7 Rs. 496,967.6 |
Related-party transactions
Related-party transactions | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Related-party transactions | 40. Related-party transactions The Company’s related parties principally includes Tata Sons Private Limited, subsidiaries and joint ventures of Tata Sons Private Limited, the Company’s associates and their subsidiaries, joint operations and joint ventures of the Company. The Company routinely enters into transactions with these related parties in the ordinary course of business. Transactions and balances of the company with its own subsidiaries and the transactions among subsidiaries are eliminated on consolidation. All transactions with related parties are conducted under normal terms of business and all amounts outstanding are unsecured and will be settled in cash. The following table summarizes related-party transactions and balances included in the consolidated financial statements for the year ended/as at March 31, 2023: Associates and its subsidiaries Joint Joint Tata Sons Pvt Ltd, its subsidiaries and joint ventures Total Total (In millions) (A) Transactions Purchase of products Rs.73,536.9 Rs. 5,723.7 Rs. 108,365.1 Rs. 18,317.8 Rs. 205,943.5 US$ 2,506.3 Sale of products 3,256.8 24,476.2 30,278.7 14,864.2 72,875.9 886.9 Services received 220.8 24.4 6.2 24,663.6 24,915.0 303.2 Services rendered 257.2 10,607.4 64.4 2,404.4 13,333.4 162.3 Bills discounted — — — 108,823.7 108,823.7 1,324.4 Purchase of property, plant and equipment 918.5 — — 190.5 1,109.0 13.5 Interest (income)/expense, dividend (income)/paid, (net) 42.3 — (2,112.9 475.8 (1,594.8 (19.4 Finance taken (including loans and equity) 1,430.0 — — — 1,430.0 17.4 Finance taken, paid back (including loans and equity) 1,860.0 — — — 1,860.0 22.6 Repayment towards lease liability — — 310.8 — 310.8 3.8 (B) Balances Amounts receivable in respect of loans and interest thereon — 93.0 — 49.0 142.0 1.7 Amounts payable in respect of loans and interest thereon 480.0 — — 36.7 516.7 6.3 Amount payable in respect of Lease Liability — — 3,028.7 — 3,028.7 36.9 Trade and other receivables 328.5 3,369.8 998.5 3,094.0 7,790.8 94.8 Accounts payable 2,295.7 45.5 7,535.6 4,719.8 14,596.6 177.6 Acceptances — — — 11,561.4 11,561.4 140.7 Provision for amount receivables — 93.0 — — 93.0 1.1 Note: The Company is required, in terms of Regulation 23 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation 2015, to obtain the approval of shareholders for the transaction of sale of products aggregating to Rs.15,460.6 million with Fiat India Automobiles Private Limited, a joint arrangement, which has become a material related party transaction for the year ended March 31, 2023. The Company proposes to take the approval of the shareholders at the forthcoming Annual General Meeting. The following table summarizes related-party transactions and balances included in the consolidated financial statements for the year ended/as at March 31, 2022: Associates Joint Joint Tata Sons Pvt Ltd, its subsidiaries and joint ventures Total (In millions) (A) Transactions Purchase of products Rs. 40,642.2 Rs. 3,988.9 Rs. 55,585.9 Rs. 229.7 Rs. 100,446.7 Sale of products 3,897.9 26,797.3 16,930.0 12,691.0 60,316.2 Services received 109.5 36.7 2.6 18,019.0 18,167.8 Services rendered 125.8 9,861.3 52.3 1,846.3 11,885.7 Bills discounted — — — 79,014.20 79,014.2 Purchase of property, plant and equipment 348.6 — — 97.90 446.5 Sale of property, plant and equipment — — — 2,340.9 2,340.9 Interest (income)/expense, dividend (income)/paid, (net) 58.4 — (45.1 ) 726.6 739.9 Finance taken (including loans and equity) 1,480.0 — — — 1,480.0 Finance taken, paid back (including loans and equity) 1,520.0 — — 12.70 1,532.7 Borrowing towards lease liability — — 542.7 — 542.7 Repayment towards lease liability — — 240.7 — 240.7 (B) Balances Amounts receivable in respect of loans and interest thereon — 93.0 — 44.6 137.6 Amounts payable in respect of loans and interest thereon 910.0 — — 28.8 938.8 Amount payable in respect of Lease Liability — — 2,960.5 — 2,960.5 Trade and other receivables 718.2 2,979.7 838.5 2,658.4 7,194.8 Accounts payable 1,399.5 2.0 1,119.2 2,388.4 4,909.1 Acceptances — — — 15,297.2 15,297.2 Provision for amount receivables — 93.0 — — 93.0 The following table summarizes related-party transactions and balances included in the consolidated financial statements for the year ended/as at March 31, 2021: Associates Joint Joint Tata Sons Total (In millions) (A) Transactions Purchase of products Rs. 19,795.6 Rs. — Rs. 38,686.3 Rs. 277.4 Rs. 58,759.3 Sale of products 1,450.0 27,546.0 11,790.1 9,459.2 50,245.3 Services received 145.7 — 7.4 14,248.9 14,402.0 Services rendered 105.9 10,769.6 44.9 1,700.0 12,620.4 Bills discounted — — — 59,472.30 59,472.3 Purchase of property, plant and equipment 248.2 — — 37.20 285.4 Sale of property, plant and equipment — — — 343.7 343.7 Interest (income)/expense, dividend (income)/paid, (net) 55.0 (0.9 ) 183.7 588.9 826.7 Finance given (including loans and equity) — — — 412.5 412.5 Finance taken (including loans and equity) 2,110.0 — — 26,025.10 28,135.1 Finance taken, paid back (including loans and equity) 1,620.0 — — — 1,620.0 Borrowing towards lease liability — — 1,679.9 — 1,679.9 Repayment towards lease liability — — 141.4 — 141.4 (B) Balances Amounts receivable in respect of loans and interest thereon — 93.9 — 45.9 139.8 Amounts payable in respect of loans and interest thereon 950.0 — — 60.7 1,010.7 Amount payable in respect of Lease Liability — — 2,658.5 — 2,658.5 Trade and other receivables 405.7 4,812.9 — 3,484.6 8,703.2 Accounts payable 653.1 — 1,569.4 2,224.8 4,447.3 Acceptances — — — 9,290.7 9,290.7 Provision for amount receivables — 93.0 — — 93.0 Compensation of key management personnel: Year ended March 31, 2023 2023 2022 2021 (In millions) Short-term benefits US$ 10.0 Rs. 818.7 Rs. 575.9 Rs. 895.4 Post-employment benefits* 0.1 9.9 14.4 133.0 Share based payment US$ 0.7 Rs. 60.2 Rs. 14.2 Rs. 6.8 The compensation of erstwhile CEO and Managing Director is Rs.169.7 million for the year ended March 31, 2022. The compensation of Executive Director is Rs.46.4 million and Rs.33.4 million for the year ended March 31, 2023 and 2022, respectively. The compensation of Group CFO is Rs.134.9 million and Rs.111.7 million for the year ended March 31, 2023 and 2022, respectively The compensation of CEO at Jaguar Land Rover is Rs.586.7 million and Rs.371.8 million for the * Excludes provision for encashable leave and gratuity for certain key management personnel as a separate actuarial valuation is not available. Refer note 32 for information on transactions with post-employment benefit plans. |
Earnings per share ("EPS")
Earnings per share ("EPS") | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Earnings per share ("EPS") | 41. Earnings per share (“EPS”) 41A. Accounting policy Basic earnings per share has been computed by dividing net income by the weighted average number of shares outstanding during the year. Partly paid up shares are included as fully paid equivalents according to the fraction paid up. Diluted earnings per share has been computed using the weighted average number of shares and dilutive potential shares, except where the result would be anti-dilutive. Net income attributable to shareholders of Tata Motors Limited (In millions) Weighted Earnings For the year ended March 31, 2023: Ordinary Shares Basic net earnings/(loss) per share Rs. 22,031.5 3,321,146,115 Rs. 6.6 US$ 268.1 US$ 0.1 Effect of shares kept in abeyance Rs. — 492,559 Rs. — US$ — US$ — Adjustment for Dilutive Shares related to ESOP/PSP Rs. — 1,282,388 Rs. — US$ — US$ — Diluted earnings/(loss) per share Rs. 22,031.5 3,322,921,062 Rs. 6.6 US$ 268.1 US$ 0.1 ‘A’ Ordinary Shares Basic net earnings/(loss) per share Rs. 3,373.3 508,502,896 Rs. 6.6 US$ 41.1 US$ 0.1 Effect of shares kept in abeyance Rs. — 233,214 Rs. — US$ — US$ — Diluted earnings/(loss) per share Rs. 3,373.3 508,736,110 Rs. 6.6 US$ 41.1 US$ 0.1 For the year ended March 31, 2022: Ordinary Shares Basic net earnings/(loss) per share Rs. (98,599.3 ) 3,320,402,491 Rs. (29.7 ) Effect of shares kept in abeyance Rs. # # Rs. # Diluted earnings/(loss) per share Rs. (98,599.3 ) 3,320,402,491 Rs. (29.7 ) ‘A’ Ordinary Shares Basic net earnings/(loss) per share Rs. (15,100.0 ) 508,502,896 Rs. (29.7 ) Effect of shares kept in abeyance Rs. # # Rs. # Diluted earnings/(loss) per share Rs. (15,100.0 ) 508,502,896 Rs. (29.7 ) For the year ended March 31, 2021: Ordinary Shares Basic net earnings/(loss) per share Rs. (122,748.1 ) 3,128,268,742 Rs. (39.2 ) Effect of shares kept in abeyance Rs. # # Rs. # Diluted earnings/(loss) per share Rs. (122,748.1 ) 3,128,268,742 Rs. (39.2 ) ‘A’ Ordinary Shares Basic net earnings/(loss) per share Rs. (19,952.8 ) 508,502,896 Rs. (39.2 ) Effect of shares kept in abeyance Rs. # # Rs. # Diluted earnings/(loss) per share Rs. (19,952.8 ) 508,502,896 Rs. (39.2 ) ‘A’ Ordinary shareholders are entitled to receive dividend at 5 percentage points more than the aggregate rate of dividend determined by Tata Motors Limited on Ordinary shares for the financial year. # Since there is a loss for the year ended March 31, 2022 and 2021 potential equity shares are not considered as dilutive and hence Diluted EPS is same as Basic EPS. |
Held for sale assets and liabil
Held for sale assets and liabilities | 12 Months Ended |
Mar. 31, 2023 | |
Investments accounted for using equity method [abstract] | |
Held for sale assets and liabilities | 42. Held for sale assets and liabilities Certain assets of the Company are classified as “Held for Sale” as they meet the criteria laid out under IFRS. The below table outlines various asse i As at March 31, 2023 2023 2022 (In millions) Property, plant and equipment US$ 77.2 Rs. 6,342.9 Rs. 498.2 Repossessed vehicles related to finance receivable 23.4 1,920.1 4,458.8 Total assets US$ 100.6 Rs. 8,263.0 Rs. 4,957.0 Liabilities directly associated with Assets held-for-sale — — 31.2 Total liabilities US$ — Rs. — Rs. 31.2 |
Loss_(gain) on sale_write off o
Loss/(gain) on sale/write off of assets and others (net) | 12 Months Ended |
Mar. 31, 2023 | |
Assets [abstract] | |
Loss/(gain) on sale/write off of assets and others (net) | 43. Loss/(gain) on sale/write off of assets and others (net) The Company has written off certain property, plant and equipment and intangible assets amounting to Rs.5,164.2 million, Rs.366.5 million and Rs.5,626.8 million for the year ended March 31, 2023, 2022 and 2021 and recorded a loss/(gain) on sale of assets of Rs.94.7 million, Rs.(921.9) million and Rs.(2,532.2) million for the year ended March 31, 2023, 2022 and 2021. |
Restricted Assets
Restricted Assets | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Restricted Assets | 44. Tata Motors Limited (“Parent Company”)—condensed financial information as to financial position, cash flows and results of operations has not been provided, as per the requirements of Rule 12-04 S-X, |
Other note
Other note | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Other note | 45. Project Reimagine was approved by the JLR board on February 11, 2021, which targets the production of more sustainable and fully electric luxury vehicles including the goal of having a fully electric fleet of luxury vehicles by the end of the decade and 100% of sales from pure battery electric vehicles by 2036, as well as striving toward achieving net zero carbon emissions across its supply chain, among other environmentally driven strategies by 2039. This revised strategy, particularly the cancellation of the Modular Longitudinal Architecture (MLA) - Mid architecture, resulted in a charge being recognised comprising the following: (i) Asset write-downs of GBP951.8 million (Rs.96,061.1 million) in relation to models cancelled. (ii) Restructuring costs of GBP533.8 million (Rs.53,881.9 million) includes Costs of GBP526.4 million (Rs.53,122.9 million) accruals to settle legal obligations on work performed to date and provisions for redundancies and other third party obligations and defined benefit past service cost of GBP7.5 million (Rs.759.0 million). |
Provisions Relating to Customer
Provisions Relating to Customer Liability | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Provisions Relating to Customer Liability | 46. During the year ended March 31, 2022, Jaguar Land Rover has created a provision of Rs . |
Significant Investments in Subs
Significant Investments in Subsidiaries | 12 Months Ended |
Mar. 31, 2023 | |
Disclosure of subsidiaries [abstract] | |
Disclosure of subsidiaries [text block] | 47. As per the Securities Subscription Agreement between the Company and India Markets Rio Pte Ltd, an entity affiliated with TPG Rise Climate (the climate investing strategy of TPG’s global impact investing platform TPG Rise) for an aggregate investment of Rs.75,000 million million million |
Subsidiaries
Subsidiaries | 12 Months Ended |
Mar. 31, 2023 | |
Investments accounted for using equity method [abstract] | |
Subsidiaries | 4 8 We had the following subsidiaries as at March 31, 2023: Sr. No. Name of the Subsidiary Company Country of incorporation % of Equity Shareholding (A) DIRECT SUBSIDIARIES 1 TML Business Services Limited India 100.00 2 Tata Motors Insurance Broking and Advisory Services Limited India 100.00 3 TMF Holdings Limited India 100.00 4 TML Holdings Pte. Limited Singapore 100.00 5 Tata Hispano Motors Carrocera S.A. Spain 100.00 6 Tata Hispano Motors Carrocerries Maghreb SA Morocco 100.00 7 Tata Precision Industries Pte. Limited Singapore 78.39 8 Tata Technologies Limited India 76.69 9 Tata Motors Body Solutions Limited (Formerly known as Tata Marcopolo Motors Limited) India 100.00 10 Brabo Robotics and Automation Limited India 100.00 11 Jaguar Land Rover Technology and Business Services India Private Limited (Formerly known as JT Special Vehicles Pvt. Limited) India 100.00 12 TML CV Mobility Solutions Limited India 100.00 13 Tata Passenger Electric Mobility Limited. India 100.00 14 Tata Motors Passenger Vehicles Limited India 100.00 15 TML Smart City Mobility Solutions Limited (Incorporated on May 25, 2022) India 100.00 (B) INDIRECT SUBSIDIARIES (ii) Subsidiaries of Tata Passenger Electric Mobility Limited. 16 Trilix S.r.l. Italy 100.00 17 Tata Motors European Technical Centre PLC UK 100.00 (iii) Subsidiaries of TML Holdings Pte. Ltd. 18 Tata Daewoo Commercial Vehicle Company Limited South Korea 100.00 19 Tata Daewoo Commercial Vehicle Sales and Distribution Company Limited South Korea 100.00 20 Tata Motors (Thailand) Limited Thailand 97.21 21 Tata Motors (SA) (Proprietary) Limited South Africa 60.00 22 PT Tata Motors Indonesia Indonesia 100.00 23 PT Tata Motors Distribusi Indonesia Indonesia 100.00 24 Jaguar Land Rover Automotive Plc UK 100.00 (iv) Subsidiaries of Jaguar Land Rover Automotive Plc 25 Jaguar Land Rover Holdings Limited UK 100.0 (v) Subsidiaries of Jaguar Land Rover Holdings Limited 26 Jaguar Land Rover Limited UK 100.0 27 Jaguar Land Rover Austria GmbH Austria 100.00 28 Jaguar Land Rover Japan Limited Japan 100.00 29 JLR Nominee Company Limited UK 100.00 30 Jaguar Land Rover Deutschland GmbH Germany 100.00 31 Jaguar Land Rover Classic Deutschland GmbH Germany 100.00 32 Jaguar Land Rover North America LLC USA 100.00 33 Jaguar Land Rover Nederland BV Netherlands 100.00 34 Jaguar Land Rover Portugal - Veículos e Peças, Lda. Portugal 100.00 35 Jaguar Land Rover Australia Pty Limited Australia 100.00 36 Jaguar Land Rover Italia Spa Italy 100.00 37 Jaguar Land Rover Korea Company Limited South Korea 100.00 38 Jaguar Land Rover (China) Investment Co. Limited China 100.00 Sr. No. Name of the Subsidiary Company Country of incorporation % of Equity Shareholding 39 Jaguar Land Rover Canada ULC Canada 100.00 40 Jaguar Land Rover France, SAS France 100.00 41 Jaguar Land Rover (South Africa) (Pty) Limited South Africa 100.00 42 Jaguar e Land Rover Brasil Indústria e Comércio de Veículos LTDA Brazil 100.00 43 Limited Liability Company “Jaguar Land Rover” (Russia) Russia 100.00 44 Jaguar Land Rover (South Africa) Holdings Limited UK 100.00 45 Jaguar Land Rover India Limited India 100.00 46 Jaguar Land Rover Espana SL Spain 100.00 47 Jaguar Land Rover Belux NV Belgium 100.00 48 Jaguar Cars South Africa (Pty) Limited South Africa 100.00 49 Jaguar Cars Limited UK 100.00 50 Land Rover Exports Limited UK 100.00 51 Land Rover Ireland Limited Ireland 100.00 52 The Daimler Motor Company Limited UK 100.00 53 Daimler Transport Vehicles Limited UK 100.00 5 4 S.S. Cars Limited UK 100.00 55 The Lanchester Motor Company Limited UK 100.00 56 Shanghai Jaguar Land Rover Automotive Services Company Limited China 100.00 57 Jaguar Land Rover Pension Trustees Limited UK 100.00 58 Jaguar Land Rover Slovakia s.r.o Slovakia 100.00 59 Jaguar Land Rover Singapore Pte. Ltd. Singapore 100.00 60 Jaguar Racing Limited UK 100.00 61 InMotion Ventures Limited UK 100.00 62 In-Car Ventures Limited UK 100.00 63 InMotion Ventures 2 Limited UK 100.00 64 InMotion Ventures 3 Limited UK 100.00 65 Jaguar Land Rover Colombia S.A.S Columbia 100.00 66 Jaguar Land Rover Ireland (Services) Limited Ireland 100.00 67 Jaguar Land Rover Taiwan Company Limited Taiwan 100.00 68 Jaguar Land Rover Servicios México, S.A. de C.V. Mexico 100.00 69 Jaguar Land Rover México, S.A.P.I. de C.V. Mexico 100.00 70 Jaguar Land Rover Hungary KFT Budapest 100.00 71 Jaguar Land Rover Classic USA LLC USA 100.00 72 Jaguar Land Rover Ventures Limited UK 100.00 73 Bowler Motors Limited UK 100.00 74 Jaguar Land Rover (Ningbo) Trading Co. Limited China 100.00 (vi) Subsidiaries of Tata Technologies Limited 75 Tata Technologies Pte Limited Singapore 76.69 76 Tata Technologies (Thailand) Limited Thailand 76.69 77 Tata Manufacturing Technologies (Shanghai) Limited China 76.69 78 INCAT International Plc. UK 76.69 79 Tata Technologies Inc. (Formerly known as INCAT GmbH) Germany 76.69 8 0 Tata Technologies Europe Limited UK 76.69 81 Tata Technologies Nordics AB UK 76.69 82 Tata Technologies Inc. USA 76.74 83 Tata Technologies de Mexico, S.A. de C.V. Mexico 76.74 84 Cambric Limited USA 76.74 85 Tata Technologies SRL Romania Romania 76.74 86 Tata Technologies Limited Employees Stock Option Trust India 76.69 87 INCAT International Limited ESOP 2000 UK 76.69 (vii) Subsidiaries of TMF Holdings Ltd. 88 Tata Motors Finance Solutions Limited India 100.00 89 Tata Motors Finance Limited India 100.00 (vii) Subsidiaries of TML Smart City Mobility Solutions Limited. 90 TML Smart City Mobility Solutions (J&K) Private Limited (Incorporated with effect from October 13, 2022) India 100.00 |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Statement of compliance | a. Statement of compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (referred to as “IFRS”) as issued by the International Accounting Standards Board (referred to as “IASB”). |
Basis of preparation | b. Basis of preparation The consolidated financial statements have been prepared on historical cost basis except for certain financial instruments, which are measured at fair value at the end of each reporting period as explained in the accounting policies. Accounting policies are included in the relevant notes to the consolidated financial statements. For accounting policies related to financial assets and financial liabilities, refer note no. 38A. |
Basis of consolidation | c. Basis of consolidation Subsidiaries The consolidated financial statements include Tata Motors Limited and its subsidiaries. Subsidiaries are entities controlled by the Company. Control exists when the Company (a) has power over the investee, (b) is exposed, or has rights, to variable returns from its involvement with the investee and (c) has the ability to affect those returns through its power to direct relevant activities of the investee. Relevant activities are those activities that significantly affect an entity’s returns. The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements listed above. In assessing control, potential voting rights that currently are exercisable and other contractual arrangements that may influence control are taken into account. The impact of subsidiaries acquired or disposed of during the year are included in the consolidated financial statements from the effective date of acquisition and up to the effective date of disposal, as appropriate. Inter-company transactions and balances including unrealized profits are eliminated on consolidation. Non-controlling non-controlling non-controlling acquisition-by-acquisition non-controlling non-controlling non-controlling non-controlling Changes in the Company’s interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. The carrying amount of the Company’s interests and the non-controlling non-controlling When the Company loses control of a subsidiary, the profit or loss on disposal is calculated as the difference between (i) the aggregate of the fair value of consideration received and the fair value of any retained interest and; (ii) the previous carrying amount of the assets (including goodwill), and liabilities of the subsidiary and any non-controlling Interests in joint arrangements A joint arrangement is an arrangement of which two or more parties have joint control. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Joint operations Certain of the Company’s activities, are conducted through joint operations, which are joint arrangements whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement. The Company recognizes, in the consolidated financial statements, its share of the assets, liabilities, income and expenses of these joint operations incurred jointly with the other partners, along with its share of income from the sale of the output and any assets, liabilities and expenses that it has incurred in relation to the joint operation. Joint ventures A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. The results, assets and liabilities of a joint venture are incorporated in these financial statements using the equity method of accounting as described below. Associates Associates are those entities over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control of those policies. Significant influence is presumed to exist when the Company holds 20 percent or more of the voting power of the investee. If accounting policies of associates differ from those adopted by the Group, the accounting policies of associates are aligned with those of the Group. The results, assets and liabilities of associates are incorporated in these financial statements using the equity method of accounting as described below. Equity method of accounting (equity accounted investees) An interest in an associate or joint venture is accounted for using the equity method from the date the investee becomes an associate or a joint venture and are recognized initially at cost. The carrying value of investment in associates and joint ventures includes goodwill identified on date of acquisition, net of any accumulated impairment losses. The consolidated financial statements include the Company’s share of profits or losses, other comprehensive income and equity movements of equity accounted investments, from the date that significant influence or joint control commences until the date that significant influence or joint control ceases. When the Company’s share of losses exceeds its interest in an equity accounted investments, the carrying amount of that interest (including any long-term interests in the nature of net investments) is reduced to nil and the recognition of further losses is discontinued except to the extent that the Company has incurred constructive or legal obligations or has made payments on behalf of the investee. When the Company transacts with an associate or joint venture of the Company, unrealized profits and losses are eliminated to the extent of the Company’s interest in its associate or joint venture. Dividends are recognised when the right to receive payment is established. |
Business Combinations | d. Business Combinations Acquisitions of subsidiaries and businesses are accounted for using the acquisition method. Acquisition related costs are recognized in profit or loss as incurred. The acquiree’s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition are recognized at their fair value at the acquisition date, except certain assets and liabilities that are required to be measured as per the applicable standard. Purchase consideration in excess of the Company’s interest in the acquiree’s net fair value of identifiable assets, liabilities and contingent liabilities is recognized as goodwill. Excess of the Company’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities over the purchase consideration is recognized, after reassessment of fair value of net assets acquired, in the consolidated income statement. |
Going Concern assessment | e. Going Concern assessment The Company’s consolidated financial statements have been prepared on a going concern basis. The Company has performed an assessment of its financial position as at March 31, 2023 and forecasts of the Company and JLR for a period of at least twelve months from the date of authorization of these financial statements (the ‘Going Concern Assessment Period’ and the ‘Foreseeable Future’). The Company and JLR have assessed their projected cash flows over the going concern assessment period. In developing these forecasts, the Company and JLR have modelled a base case, which has been further sensitised using severe but plausible downside scenarios. The base case uses the most recent Board-approved forecasts that include the going concern assessment period; taking into account the Group’s expectations of improved semiconductor supply, optimisation of production to prioritise the highest margin products along with the expectations relating to prevailing economic conditions, including the impact of inflationary pressures on material costs. For the Company, the base case has been further sensitized using more severe but plausible scenarios considering external market commentaries and other factors impacting the global economy and automotive industry. For JLR, a reverse stress test against the base case has been carried out to determine the decline in wholesale volume over a 12-month period that would result in a liquidity level that breached the GBP1 billion liquidity financing covenants. The reverse stress test assumes continued supply constraints and optimisation of supply to maximise production of higher margin products. In order to reach a liquidity level that breaches covenants, it would require a sustained decline in wholesale volumes of more than 12-month Covid-19 Based on the evaluation described above, management believes that the Company and JLR have sufficient financial resources available to it at the date of approval of these financial statements and that it will be able to continue as a ‘going concern’ in the foreseeable future and for a period upto at least twelve months from the date of authorisation of these financial statement. |
Use of estimates and judgments | f. Use of estimates and judgments The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, expenses and disclosures of contingent assets and liabilities at the date of these financial statements and the reported amounts of revenues and expenses for the years presented. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed at each balance sheet date. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in future periods affected. In particular, information about significant areas of estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the financial statements are included in the following notes: i) Note 13, 16 and 17 – Property, plant and equipment and intangible assets—useful lives and impairment, capitalization of product development costs ii) Note 15 – Impairment of goodwill iii) Note 20 – Recoverability/recognition of deferred tax assets iv) Note 25 – Provision for product warranty v) Note 32 – Measurement of assets and obligations relating to employee benefits vi) Note 4 – Allowances for credit losses for finance receivables vii) Estimated discounts / incentives required to be paid to dealers on retail of vehicles viii) Note 2(e) – Going concern assessment |
Cost recognition | g. Cost recognition Costs and expenses are recognized when incurred and are classified according to their nature. Expenditure are capitalized, where appropriate, in accordance with the policy for internally generated intangible assets and represents employee costs, stores and other manufacturing supplies, and other expenses incurred for construction and product development undertaken by the Company. Material and other cost of sales as reported in the consolidated income statement is presented net of the impact of realized foreign exchange relating to derivatives hedging cost exposures. |
Foreign currency | h. Foreign currency These consolidated financial statements are presented in Indian rupees, which is the functional currency of Tata Motors Limited. Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of transaction. Foreign currency denominated monetary assets and liabilities are re-measured 1.) to the extent of exchange differences on foreign currency borrowings which are capitalized when they are regarded as an adjustment to interest costs. 2.) exchange difference on certain foreign currency borrowings which are designated as hedging instruments against net investment hedges of foreign operation. Exchange difference on such hedges are recognised with foreign currency translation reserve. For the purpose of presenting consolidated financial statements, the assets and liabilities of the Company’s foreign operations (having non-INR Exchange differences arising from the translation of foreign operations previously recognized in currency translation reserve in equity are not reclassified from equity to the consolidated income statement until the disposal of such operation. |
Impairment | i. Impairment i) Goodwill Cash generating units to which goodwill is allocated are tested for impairment annually at each balance sheet date, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to that unit and then to the other assets of the unit pro rata on the basis of carrying amount of each asset in the unit. Goodwill impairment loss recognized is not reversed in subsequent period s ii) Equity accounted investments: Joint ventures and associates When necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment as a single asset by comparing its recoverable amount with its carrying amount. Any impairment loss recognised forms part of the carrying amount of the investment. Any reversal of that impairment loss is recognised to the extent that the recoverable amount of the investment subsequently increases. iii) Property, plant and equipment and other intangible assets At each balance sheet date, the Company assesses whether there is any indication that any property, plant and equipment and intangible assets with finite lives may be impaired. Intangible assets with indefinite useful lives and intangible assets not yet available for use, are tested for impairment annually at each balance sheet date, or earlier, if there is an indication that the asset may be impaired. If any such impairment exists the recoverable amount of an asset is estimated to determine the extent of impairment, if any. Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The Company also periodically assesses if there are any triggers for reversal of previously recognised impairment loss. A reversal of impairment loss is recognised if there is a trigger for reversal and the recoverable value exceeds the carrying value. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax 7 If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated income statement. An asset or cash-generating unit impaired in prior years is reviewed at each balance sheet date to determine whether there is any indication of a reversal of impairment loss recognized in prior years. |
Recent accounting pronouncements not yet adopted by the Company | j. Recent accounting pronouncements not yet adopted by the Company New Accounting pronouncements affecting amounts reported and /or disclosures in the financial statements. Accounting Standard Description Applicable date Amendments to IAS 1 Non – current Liabilities with Covenants January 1, 2024 Amendments to IAS 1 Disclosure of Accounting Policies January 1, 2023 Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction January 1, 2023 Amendments to IAS 8 Definition of Accounting Estimates January 1, 2023 Amendments to IAS 1 Classification of Liabilities as Current or Non-Current January 1, 2024 Amendments to IFRS 16 Lease Liability in Sale and Leaseback January 1, 2024 IFRS 17 Insurance Contracts January 1, 2023 Amendments to IAS 1 – Non - current Liabilities with Covenants The amendment clarifies how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. The standard is effective for annual periods beginning on or after January 1, 2024 with early application permitted. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IAS 1 – Disclosure of Accounting Policies The amendments require that an entity discloses its material accounting policies, instead of its significant accounting policies. Further amendments explain how an entity can identify a material accounting policy. Examples of when an accounting policy is likely to be material are added. To support the amendment, the Board has also developed guidance and examples to explain and demonstrate the application of the ‘four – step materiality process’ described in IFRS Practice Statement 2. The standard is effective for annual periods beginning on or after January 1, 2023. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IAS 12 – Deferred Tax related to Assets and Liabilities arising from a Single Transaction The amendments clarify that the initial recognition exemption does not apply to transactions in which equal amounts of deductible and taxable temporary differences arise on initial recognition. The amendments are effective for annual periods beginning on or after January 1, 2023. Early application is permitted. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IAS 8 – Definition of Accounting Estimates The amendments replace the definition of a ‘change in accounting estimates; with a definition of ‘accounting estimates’. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty”. Entities develop accounting estimates if accounting policies require items in financial statements to be measured in a way that involves measurement uncertainty. The amendments clarify that a change in accounting estimate that results from new information or new developments is not the correction of an error. The amendments are effective for annual periods beginning on or after January 1, 2023. Early application is permitted. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IAS 1 – Classification of Liabilities as Current or Non-Current The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current. The amendments are effective for annual periods beginning on or after January 1, 2024. The Company is assessing probable impact in its financial statements on adoption of these amendments. Amendments to IFRS 16 - Lease Liability in Sale and Leaseback The amendment clarifies how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale. The amendments are effective for annual periods beginning on or after January 1, 2024. The Company is assessing probable impact in its financial statements on adoption of these amendments. IFRS 17 Insurance Contracts In May 2017, IASB issued IFRS 17 which establishes the principles for recognition, measurement, presentation and disclosure of insurance contracts and supersedes IFRS 4 Insurance Contracts. IFRS 17 requires insurance liabilities to be measured at a current fulfilment value and provides a more uniform measurement and presentation approach for all insurance contracts. The Company has assessed that there will be no impact upon adoption of IFRS 17. |
Convenience translation | k. Convenience translation The consolidated financial statements have been presented in Indian rupees (“Rs.”), Tata Motors Limited’s functional currency. For the convenience of the reader, the financial statements as at and for the year ended March 31, 2023, have been translated into U.S. dollars at US$1.00 = Rs.82.17 based on fixing rate in the City of Mumbai on March 31, 2023, for cable transfers in Indian rupees as published by the Foreign Exchange Dealers’ Association of India (FEDAI). Such translation should not be construed as representation that the rupee amounts have been or could be converted into U.S. dollars at that or any other rate, or at all. |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Cash and Cash Equivalents | 3B. Cash and cash equivalents consist of the following: As at March 31, 2023 2023 2022 (In millions) Cash balances US$ 0.9 Rs. 77.2 Rs. 114.7 Balances with banks (including deposits with original maturity of up to three months) 3,879.7 318,792.3 381,475.4 Total US$ 3,880.6 Rs. 318,869.5 Rs. 381,590.1 |
Finance receivables (Tables)
Finance receivables (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Finance Receivables | 4B. Finance receivables consist of vehicle loans, the details of which are as follows: As at March 31, 2023 2023 2022 (In millions) Finance receivables US$ 3,984.7 Rs. 327,414.4 Rs. 350,386.4 Less: allowance for credit losses 232.2 19,077.1 18,074.3 Total US$ 3,752.5 Rs. 308,337.3 Rs. 332,312.1 Current portion 2,849.9 234,173.1 220,953.5 Non-current 902.6 74,164.2 111,358.6 Total US$ 3,752.5 Rs. 308,337.3 Rs. 332,312.1 |
Summary of Changes in Allowance for Credit Losses | Changes in the allowance for credit losses in finance receivables are as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 220.0 Rs. 18,074.3 Rs. 12,476.8 Rs. 6,513.7 Allowances made during the year 248.2 20,391.5 13,075.9 9,579.4 Written off (236.0 ) (19,388.7 ) (7,478.4 ) (3,616.3 ) Balance at the end US$ 232.2 Rs. 19,077.1 Rs. 18,074.3 Rs. 12,476.8 |
Allowance for trade and other_2
Allowance for trade and other receivables (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [line items] | |
Summary of Changes in Allowance for Credit Losses | Changes in the allowance for credit losses in finance receivables are as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 220.0 Rs. 18,074.3 Rs. 12,476.8 Rs. 6,513.7 Allowances made during the year 248.2 20,391.5 13,075.9 9,579.4 Written off (236.0 ) (19,388.7 ) (7,478.4 ) (3,616.3 ) Balance at the end US$ 232.2 Rs. 19,077.1 Rs. 18,074.3 Rs. 12,476.8 |
Trades and other receivables [Member] | |
Statement [line items] | |
Summary of Changes in Allowance for Credit Losses | Change in the allowances for trade and other receivables are as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 140.7 Rs. 11,558.1 Rs. 12,743.8 Rs. 13,606.8 Allowances made during the year 9.8 806.3 1,512.6 500.1 Written off (15.7 ) (1,290.4 ) (2,592.2 ) (1,501.6 ) Currency translation 0.1 8.8 (106.1 ) 138.5 Balance at the end US$ 134.9 Rs. 11,082.8 Rs. 11,558.1 Rs. 12,743.8 |
Investments - non-current (Tab
Investments - non-current (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Other Investments Non current | As at March 31, 2023 2023 2022 (In millions) (a) Investments - measured at Fair value through Other Comprehensive Income Equity shares (quoted) US$ 78.2 Rs. 6,433.1 Rs. 8,029.1 Equity shares (unquoted) 84.2 6,916.5 6,697.1 Total US$ 162.4 Rs. 13,349.6 Rs. 14,726.2 (b) Investments - measured at Fair value through profit or loss Investment in Government securities (quoted) US$ 1.2 Rs. 94.9 Rs. — Non-cumulative — 4.0 4.0 Cumulative redeemable preference shares (unquoted) 0.2 15.0 15.0 Equity shares (unquoted) 45.1 3,706.4 2,486.0 Convertible debentures (unquoted) 8.2 673.1 551.9 Others (quoted) 0.6 48.9 — Total US$ 55.3 Rs. 4,542.3 Rs. 3,056.9 (c) Investments - measured at amortised cost Investment in Government Securities (quoted) US$ 131.0 10,760.0 5,426.1 US$ 131.0 Rs. 10,760.0 Rs. 5,426.1 Total (a+b+c) US$ 348.7 Rs. 28,651.9 Rs. 23,209.2 |
Investments - current (Tables)
Investments - current (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Other Investments current | As at March 31, 2023 2023 2022 (In millions) (a) Investments - measured at Fair value through profit and loss Mutual funds US$ 496.2 Rs. 40,764.8 Rs. 57,526.2 Convertible debentures — — 515.0 Total US$ 496.2 Rs. 40,764.8 Rs. 58,041.2 (b) Investments - measured at amortized cost Quoted: Investment in Government Securities US$ 16.4 Rs. 1,344.4 Rs. 6,856.2 Unquoted: Mutual funds 1,780.1 146,273.8 162,194.8 Total US$ 1,796.5 Rs. 147,618.2 Rs. 169,051.0 Total (a+b) US$ 2,292.7 Rs. 188,383.0 Rs. 227,092.2 |
Other financial assets (Tables)
Other financial assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Other Financial Assets - Current | Other financial assets - current consist of the following: As at March 31, 2023 2023 2022 (In millions) Derivative financial instruments US$ 140.9 Rs. 11,574.9 Rs. 19,184.9 Loans to channel partners 14.5 1,192.3 1,208.9 Advances and other receivables recoverable in cash 361.6 29,715.2 23,369.8 Deposits with financial institution 12.2 1,002.3 3,000.0 Inter corporate deposits 0.5 43.0 43.0 Government grant receivables 46.3 3,805.3 5,227.5 Restricted bank deposits 78.1 6,415.1 4,726.0 Finance lease receivables 4.8 391.4 289.2 Others 38.6 3,171.2 2,394.2 Total US$ 697.5 Rs. 57,310.7 Rs. 59,443.5 |
Summary of Other Financial Assets - Non-current | Other financial assets - non-current As at March 31, 2023 2023 2022 (In millions) Derivative financial instruments US$ 326.9 Rs. 26,860.1 Rs. 20,175.9 Loans to channel partners 77.1 6,339.1 7,204.6 Advance and other receivables recoverable in cash 67.9 5,579.2 6,648.2 Margin money with banks 6.5 530.6 3,638.4 Government grants receivables 200.7 16,488.3 12,241.0 Loans to employees 6.0 494.2 289.8 Deposits with financial institution 109.5 9,000.0 — Deposits with banks 23.4 1,921.3 832.4 Restricted deposits 16.3 1,335.3 2,099.8 Finance lease receivables 65.6 5,391.3 4,307.0 Others 61.3 5,043.7 2,791.3 Total US$ 961.2 Rs. 78,983.1 Rs. 60,228.4 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
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Summary of Inventories | As at March 31, 2023 2023 2022 (In millions) Raw materials, components and consumables US$ 701.3 Rs. 57,623.9 Rs. 57,726.9 Work-in-progress 710.8 58,407.4 55,965.4 Finished goods 3,548.3 291,566.2 238,753.7 Total US$ 4,960.4 Rs. 407,597.5 Rs. 352,446.0 |
Other current assets (Tables)
Other current assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Other Current Assets | Other current assets consist of the following: As at March 31, 2023 2023 2022 (In millions) Advances to suppliers and contractors US$ 119.3 Rs. 9,805.9 Rs. 8,152.1 Taxes recoverable, statutory deposits and dues from government 667.8 54,864.8 40,312.8 Prepaid expenses 274.6 22,567.8 20,292.9 Employee benefits 0.1 9.0 — Others 105.0 8,630.1 6,907.9 Total US$ 1,166.8 Rs. 95,877.6 Rs. 75,665.7 |
Other non-current assets (Table
Other non-current assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Other Non-current Assets | Other non-current As at March 31, 2023 2023 2022 (In millions) Taxes recoverable, statutory deposits and dues from government US$ 78.5 Rs. 6,447.4 Rs. 6,215.9 Prepaid expenses 93.0 7,644.6 2,825.2 Employee benefits 819.4 67,328.3 43,169.4 Others 11.8 967.6 2,004.6 Total US$ 1,002.7 Rs. 82,387.9 Rs. 54,215.1 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Estimated Useful Lives of Assets | Estimated useful lives of the assets are as follows: Type of Asset Estimated useful life Buildings, Roads, Bridge and culverts 4 to 60 years Plant and equipment 3 to 30 years Computers 3 to 6 years Vehicles 3 to 11 years Furnitures and fixtures 3 to 21 years |
Summary of Property, Plant and Equipment | 13B. Land and Plant and Vehicles Computers Furniture Heritage Capital work-in- progress Total (In millions) Cost as at April 1, 2022 Rs. 315,947.4 Rs. 1,451,199.1 Rs. 5,510.3 Rs. 28,882.2 Rs. 17,937.4 Rs. 3,290.0 Rs. 36,653.9 Rs. 1,859,420.3 Additions 6,826.8 51,123.1 550.1 3,322.7 717.3 — 74,857.5 137,397.5 Additions on account of Ford plant acquisition (refer note below) 6,277.1 — — — — — 3,132.2 9,409.3 Transferred to gross block — — — — — — (60,255.3 ) (60,255.3 ) Assets held for sale (6,157.0 ) — — — — (186.5 ) — (6,343.5 ) Write down of assets — — — — — — (1.0 ) (1.0 ) Currency translation 7,560.9 27,574.1 41.4 558.4 372.4 2.4 1,276.3 37,385.9 Disposals/Adjustments (1,508.0 ) (28,649.5 ) (1,122.8 ) (196.4 ) (184.8 ) (379.7 ) — (32,041.2 ) Cost as at March 31, 2023 328,947.2 1,501,246.8 4,979.0 32,566.9 18,842.3 2,726.2 55,663.6 1,944,972.0 Accumulated Depreciation as at April 1, 2022 (80,641.9 ) (952,946.5 ) (3,401.1 ) (19,180.1 ) (12,172.7 ) (1,944.2 ) — (1,070,286.5 ) Depreciation for the year (12,808.2 ) (99,218.5 ) (527.8 ) (2,356.9 ) (925.7 ) — — (115,837.1 ) Assets held for sale 575.6 — — — — — — 575.6 Reversal of impairment loss (refer note 18(c)) — 587.7 — — — — — 587.7 Currency translation (2,421.2 ) (19,836.6 ) (219.9 ) (336.4 ) (244.6 ) — — (23,058.7 ) Disposals/Adjustments 365.6 27,056.3 926.7 167.9 142.4 — — 28,659.0 Accumulated Depreciation as at March 31, 2023 (94,930.1 ) (1,044,357.6 ) (3,222.1 ) (21,705.5 ) (13,200.6 ) (1,944.2 ) — (1,179,360.1 ) Net carrying amount as at March 31, 2023 Rs. 234,017.1 Rs. 456,889.2 Rs. 1,756.9 Rs. 10,861.4 Rs. 5,641.7 Rs. 782.0 Rs. 55,663.6 Rs. 765,611.9 US$ 9,317.4 Land and Plant and Vehicles Computers Furniture Heritage Capital work-in- progress Total (In millions) Cost as at April 1, 2021 Rs. 315,064.9 Rs. 1,356,630.4 Rs. 6,697.1 Rs. 27,432.1 Rs. 18,110.0 Rs. 3,536.9 Rs. 85,087.8 Rs. 1,812,559.1 Additions 6,150.5 124,013.6 549.8 2,273.3 1,215.3 50.8 82,887.8 217,141.1 Transferred to Gross Block — — — — — — (130,754.0 ) (130,754.0 ) Assets held for sale (915.5 ) — — — — (191.6 ) — (1,107.1 ) Write down of assets — — — — — — (722.8 ) (722.8 ) Currency translation (3,918.8 ) (17,141.6 ) (43.8 ) (619.7 ) (643.0 ) (17.4 ) 155.1 (22,229.2 ) Disposals/Adjustments (433.7 ) (12,303.3 ) (1,692.9 ) (203.4 ) (745.0 ) (88.7 ) — (15,467.0 ) Cost as at March 31, 2022 315,947.4 1,451,199.1 5,510.3 28,882.2 17,937.4 3,290.0 36,653.9 1,859,420.3 Accumulated Depreciation as at April 1, 2021 (69,641.1 ) (885,252.8 ) (3,489.9 ) (17,538.9 ) (11,924.7 ) (1,670.9 ) — (989,518.3 ) Depreciation for the year (12,862.1 ) (91,543.2 ) (870.3 ) (2,166.9 ) (1,013.3 ) — — (108,455.8 ) Assets held for sale 608.8 — — — — — — 608.8 Reversal of impairment loss (refer note 18 (c)) — 264.0 0.6 24.6 63.6 — 352.8 Write down of assets — — — — — (273.3 ) (273.3 ) Currency translation 1,077.5 11,583.1 32.6 345.5 151.1 — — 13,189.8 Disposals/Adjustments 175.0 12,002.4 925.9 155.6 550.7 — — 13,809.5 Accumulated Depreciation as at March 31, 2022 (80,641.9 ) (952,946.5 ) (3,401.1 ) (19,180.1 ) (12,172.7 ) (1,944.2 ) — Rs. (1,070,286.5 ) Net carrying amount as at March 31, 2022 Rs. 235,305.5 Rs. 498,252.6 Rs. 2,109.2 Rs. 9,702.1 Rs. 5,764.7 Rs. 1,345.8 Rs. 36,653.9 Rs. 789,133.7 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary Of Break Up Of Lease Liabilities Included In Consolidated Balance Sheet | The following amounts are included in the Consolidated Balance Sheet: As at March 31, 2023 2023 2022 (In millions) Current lease liabilities (Refer Note 23) US$ 107.7 Rs. 8,844.8 Rs. 8,095.4 Non-current 921.1 75,684.9 59,624.4 Total lease liabilities US$ 1,028.7 Rs. 84,529.7 Rs. 67,719.8 |
Summary Of Lease Liabilities Amounts Recognised In The Consolidated Statement Of Cash Flow | The following amounts are recognised in the consolidated income statement: For the year ended March 31, 2023 2023 2022 (In millions) Interest expense on lease liabilities US$ 76.3 Rs. 6,271.9 Rs. 5,417.6 Variable lease payment not included in the measurement of lease liabilities 0.5 39.8 35.7 Expenses related to short-term leases 14.3 1,174.7 1,155.8 Expenses related to low-value low-value 15.2 1,245.5 1,151.4 Income from sub-leasing right-of-use US$ 1.2 Rs. 99.2 Rs. 9.9 |
Summary Of Quantitative Information About Right to use Assets | Right of use assets consist of the following: (In millions) Land Buildings Plant, and equipments Furniture, Appliances Vehicles Computers & Other Assets Total Cost as at April 1, 2022 Rs. 3,034.9 Rs. 77,858.8 Rs. 15,605.6 Rs. 1,681.9 Rs. 3,133.8 Rs. 4,495.6 Rs. 497.7 Rs. 106,308.3 Additions 59.9 14,440.1 2,525.4 20.2 2,257.1 554.2 — 19,856.9 Disposals/Adjustments (247.4 ) (3,488.4 ) (3,672.2 ) (43.1 ) (1,259.5 ) (3,170.7 ) (173.0 ) (12,054.3 ) Currency translation 37.4 2,220.9 182.7 87.4 31.3 15.8 2.7 2,578.2 Cost as at March 31, 2023 2,884.8 91,031.4 14,641.5 1,746.4 4,162.7 1,894.9 327.4 116,689.1 Accumulated amortisation as at April 1, 2022 (1,198.1 ) (23,132.9 ) (9,083.6 ) (628.6 ) (1,297.5 ) (3,749.8 ) (357.4 ) (39,447.9 ) Amortisation for the year (337.1 ) (7,392.1 ) (2,300.0 ) (136.3 ) (400.8 ) (438.3 ) (69.9 ) (11,074.5 ) Amortisation - considered as employee cost — — — — (593.9 ) — — (593.9 ) Reversal of impairment loss (refer — 2,143.9 — — — — — 2,143.9 Disposals/Adjustments 19.5 3,160.7 3,207.7 43.1 1,172.4 3,154.7 163.3 10,921.4 Currency translation (38.3 ) (397.2 ) (153.7 ) (31.8 ) (7.2 ) 4.2 (3.5 ) (627.5 ) Accumulated amortisation as at March 31, 2023 (1,554.0 ) (25,617.6 ) (8,329.6 ) (753.6 ) (1,127.0 ) (1,029.2 ) (267.5 ) (38,678.5 ) Net carrying amount as at March 31, 2023 Rs. 1,330.8 Rs. 65,413.8 Rs. 6,311.9 Rs. 992.8 Rs. 3,035.7 Rs. 865.7 Rs. 59.9 Rs. 78,010.6 US$ 949.4 (In millions) Land Buildings Plant, and equipments Furniture, Appliances Vehicles Computers & Other Assets Total Cost as at April 1, 2021 Rs. 3,060.1 Rs. 69,650.7 Rs. 14,045.9 Rs. 1,414.8 Rs. 1,753.7 Rs. 4,164.6 Rs. 398.1 Rs. 94,487.9 Additions 10,778.9 1,808.8 331.8 1,493.9 439.7 107.4 14,960.5 Disposals/Adjustments — (1,571.0 ) (121.4 ) — (84.6 ) (70.2 ) — (1,847.2 ) Currency translation (25.2 ) (999.8 ) (127.7 ) (64.7 ) (29.2 ) (38.5 ) (7.8 ) (1,292.9 ) Cost as at March 31, 2022 3,034.9 77,858.8 15,605.6 1,681.9 3,133.8 4,495.6 497.7 106,308.3 Accumulated amortisation as at April 1, 2021 (818.5 ) (17,257.7 ) (6,701.3 ) (292.7 ) (927.4 ) (3,387.7 ) (195.8 ) (29,581.1 ) Amortisation for the year (397.4 ) (7,087.2 ) (2,476.7 ) (350.8 ) (217.8 ) (462.1 ) (168.2 ) (11,160.2 ) Amortisation - considered as employee cost — — — — (208.0 ) — — (208.00 ) Reversal of impairment loss (refer c — 37.6 — — — — — 37.6 Disposals/Adjustments — 864.0 1.6 — 32.5 70.2 — 968.3 Currency translation 17.8 310.4 92.8 14.9 23.2 29.8 6.6 495.5 Accumulated amortisation as at March 31, 2022 (1,198.1 ) (23,132.9 ) (9,083.6 ) (628.6 ) (1,297.5 ) (3,749.8 ) (357.4 ) (39,447.9 ) Net carrying amount as at March 31, 2022 Rs. 1,836.8 Rs. 54,725.9 Rs. 6,522.0 Rs. 1,053.3 Rs. 1,836.3 Rs. 745.8 Rs. 140.3 Rs. 66,860.4 |
Summary of Additional Information about Leasing Activities for Lessor | The following amounts are included in the Consolidated Balance Sheet: As at March 31, 2023 2023 2022 (In millions) Current lease receivables US$ 4.8 Rs. 391.4 Rs. 289.2 Non-current 65.6 5,391.3 4,307.0 Total lease receivables US$ 70.4 Rs. 5,782.7 Rs. 4,596.2 The following amounts are recognised in the consolidated income statement: For the year ended March 31, 2023 2023 2022 (In millions) Sales Revenue for finance leases US$ 16.9 Rs. 1,389.4 Rs. 2,785.8 Finance income on the net investment in finance leases 5.7 470.3 260.2 |
Summary of Maturity Analysis of Finance Lease Payments Receivable | The table below provides details regarding the contractual maturities of finance lease receivables as at March 31, 2023 and March 31, 2022: As at March 31, 2023 2023 2022 (In millions) Due in 1st Year US$ 4.8 Rs. 391.4 Rs. 289.2 Due in 2nd Year 5.6 456.8 334.9 Due in 3rd to 5th Year 19.1 1,572.4 1,148.6 Due beyond 5th Year 40.9 3,362.1 2,823.5 Total contractual cash flows US$ 70.4 Rs. 5,782.7 Rs. 4,596.2 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Goodwill | As at March 31, 2023 2023 2022 (In millions) Balance at the beginning US$ 98.2 Rs. 8,071.7 Rs. 8,037.2 Currency translation 4.1 334.3 34.5 Balance at the end US$ 102.3 Rs. 8,406.0 Rs. 8,071.7 The carrying amount of goodwill has been allocated to CGU as follows: As at March 31, 2023 2023 2022 (In millions) Passenger vehicles - automotive and related activity segment (Tata and other brand vehicles) US$ 12.1 Rs. 990.9 Rs. 990.9 Software consultancy and service 90.2 7,415.1 7,080.8 Total US$ 102.3 Rs. 8,406.0 Rs. 8,071.7 |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Intangible Assets | 16B. Intangible assets consist of the following: Software Patents and Customer Intellectual rights and Product Indefinite life Intangible Assets under Total (In millions) Cost as at April 1, 2022 Rs. 96,958.7 Rs. 17,467.3 Rs. 6,538.4 Rs. 9,178.9 Rs. 1,025,002.8 Rs. 55,966.1 Rs. 64,994.4 Rs. 1,276,106.6 Additions 6,676.0 868.9 — — 64,498.6 — 87,254.4 * 159,297.9 Capitalised product development — — — — — — (66,872.2 ) (66,872.2 ) Write down of assets — — — — — — (1,789.8 ) (1,789.8 ) Currency translation 2,687.4 (79.4 ) 129.3 830.8 27,446.0 — 2,241.7 33,255.8 Fully amortized not in use (277.7 ) (2.1 ) — — (113,797.0 ) — — (114,076.8 ) Cost as at March 31, 2023 Rs. 106,044.4 Rs. 18,254.7 Rs. 6,667.7 Rs. 10,009.7 Rs. 1,003,150.4 Rs. 55,966.1 Rs. 85,828.5 Rs. 1,285,921.5 Accumulated amortization at April 1, 2022 (74,821.8 ) (16,316.2 ) (4,810.1 ) (3,822.3 ) (616,214.6 ) (13,309.9 ) — (729,294.9 ) Amortization for the year (7,202.4 ) (246.2 ) (245.3 ) (286.7 ) (105,993.5 ) — — (113,974.0 ) Currency translation (2,350.3 ) 335.0 (111.2 ) (705.8 ) (22,205.2 ) — — (25,037.5 ) Fully amortized not in use 277.7 2.1 — 113,797.0 — — 114,076.8 Accumulated amortization at March 31, 2023 (84,096.8 ) (16,225.3 ) (5,166.6 ) (4,814.8 ) (630,616.3 ) (13,309.9 ) — (754,229.7 ) Net carrying amount as at March 31, 2023 Rs. 21,947.6 Rs. 2,029.4 Rs. 1,501.1 Rs. 5,194.9 Rs. 372,534.1 Rs. 42,656.2 Rs. 85,828.5 Rs. 531,691.8 US$ 6,470.6 Cost as at April 1, 2021 Rs. 95,999.6 Rs. 17,321.6 Rs. 6,627.8 Rs. 10,292.9 Rs. 1,011,615.9 Rs. 55,966.1 Rs. 122,684.3 Rs. 1,320,508.2 Additions 2,731.4 351.6 — 26.1 112,493.9 — 57,488.3 * 173,091.3 Capitalised product development — — — — — — (114,076.0 ) (114,076.0 ) Write down of assets — — — — — — (918.1 ) (918.1 ) Currency translation (1,241.4 ) (205.9 ) (89.4 ) (912.2 ) 12,538.3 — (184.1 ) 9,905.3 Fully amortized not in use (530.9 ) — — (227.9 ) (111,645.3 ) — — (112,404.1 ) Cost as at March 31, 2022 96,958.7 17,467.3 6,538.4 9,178.9 1,025,002.8 55,966.1 64,994.4 1,276,106.6 Accumulated amortization at April 1, 2021 (69,031.5 ) (16,123.9 ) (4,619.7 ) (3,962.1 ) (598,977.8 ) (13,309.9 ) — (706,024.9 ) Amortization for the year (7,307.5 ) (393.2 ) (258.9 ) (315.7 ) (111,425.9 ) — — (119,701.2 ) Reversal for impairment loss (refer note 18(c)) (0.2 ) — — — — — — (0.2 ) Currency translation 986.5 200.9 68.5 227.6 (17,456.2 ) — — (15,972.7 ) Fully amortized not in use 530.9 — — 227.9 111,645.3 — — 112,404.1 Accumulated amortization at March 31, 2022 (74,821.8 ) (16,316.2 ) (4,810.1 ) (3,822.3 ) (616,214.6 ) (13,309.9 ) — (729,294.9 ) Net carrying amount as at March 31, 2022 Rs. 22,136.9 Rs. 1,151.1 Rs. 1,728.3 Rs. 5,356.6 Rs. 408,788.2 Rs. 42,656.2 Rs. 64,994.4 Rs. 546,811.7 * Additions include allocation of central overheads amounting to Rs.7,826.6 million and Rs . 1. The useful life of trademarks and brands in respect of the acquired Jaguar Land Rover businesses have been determined to be indefinite as the Company expects to generate future economic benefits indefinitely from these assets. 2. During the year ended March 31, 2014, legislation was enacted that allows United Kingdom (UK) companies to elect for the Research and Development Expenditure Credit (RDEC) on qualifying expenditures incurred since April 1, 2013, instead of the existing super-deduction rules. As a result of this election by the Company’s subsidiary in the UK, Rs.7,360.5 million, Rs.3,970.6 million and Rs.4,463.9 million of the RDEC, for the years ended March 31, 2023, 2022 and 2021 respectively, the proportion relating to capitalized product development expenditure, have been off set against these assets. The remaining Rs.9,588.0 million, Rs.3,461.5 million and Rs.3,978.7 million for the years ended March 31, 2023, 2022 and 2021 respectively, have been recognized as miscellaneous income, a component of other income/(loss) (net). |
Summary of Estimated Useful Lives of Intangible Assets | For intangible assets with finite lives, amortization is provided on a straight-line basis over the estimated useful lives of the acquired intangible assets as per the estimated amortization period below Type of Asset Estimated amortization period Patents and technological know-how 2 to 12 years Customer related intangibles - Dealer network 20 years Intellectual property rights 3 to 10 years Computer Software 1 to 8 years Product development costs 2 to 10 years |
Impairment assessment of Jagu_2
Impairment assessment of Jaguar Land Rover Business (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary Of Key Assumptions Used To Calculate The Recoverable Amount | As at March 31, 2023 2022 2021 Forecast period (Yr 1-5) variable profit* (%GVR) 24.9 % 24.4 % 24.0 % Pre-tax 15.6 % 13.4 % 13.6 % Terminal value variable profit (%GVR)* 23.2 % 24.8 % 21.4 % Terminal value capital expenditures (%GVR) 8.1 % 10.0 % 8.9 % * Based on forecast variable profit per unit and volumes |
Summary Of Value Assigned To The Key Assumptions Must Change For The Recoverable Amount Of The CGU | As at March 31, 2023 2022 2021 % Change % Change % Change Forecast period (Yr 1-5) variable profit* (%GVR) -6.0 % -3.1 % -12.7 % Pre-tax 31.4 % 8.7 % 39.2 % Terminal value variable profit (%GVR) -5.5 % -2.1 % -10.1 % Terminal value capital expenditures (%GVR) 17.5 % 5.8 % 24.4 % In each of the four scenarios above, the sensitivity has been performed in isolation with all other assumptions remaining constant. The prior year comparatives have been restated to reflect the amount by which the pre-tax values (previously post-tax) of the assumptions would need to change for the recoverable amount to be equal to the CGU. |
Impairment losses_(reversal) _2
Impairment losses/(reversal) for Passenger Vehicle segment and other provisions (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Impairment Of Passenger Vehicle Segment And Other Provisions [Line Items] | |
Summary of recoverable amount of cash generating unit | The fair value of the CGU is as follows: As at March 31, 2021 (in millions) Recoverable amount 146,186.0 |
Summary of approach and key assumptions used to determine cgu fvlcd | As at March 31, 2021 Enterprise value to Sales multiple 1.27 |
Summary of Impairment of Passenger Vehicle Segment and Other Provisions | The impairment loss recognised was subsequently reversed in the year ended March 31, 2021 was as follows: As at March 31, 2021 (in millions) Property, plant and equipment (refer note 13) (1,881.3 ) Right of use assets (refer note 14) (120.5 ) Other intangible assets (refer note 16) (1,711.7 ) Total (3,713.5 ) |
Summary of value of key assumptions used to calculate the aggregate impairment loss recognised | The change in the following assumptions used in the impairment review would, in isolation, lead to a change in FVCLD as at March 31, 2021 (although it should be noted that these sensitivities do not take account of potential mitigating actions): As at March 31, 2021 (in millions) Decrease in Enterprise value (EV) to Sales multiple by 10% 14,618.6 |
Investments in equity account_2
Investments in equity accounted investees (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [line items] | |
Summary of Investments in Equity Accounted Investees | (c) Summary of carrying amount of the Company’s interest in equity accounted investees: As at March 31, 2023 2023 2022 (In millions) Carrying amount in immaterial associates US$ 161.8 Rs. 13,298.1 Rs. 11,598.1 Carrying amount in material joint venture 406.0 33,357.2 31,796.7 Carrying amount in immaterial joint venture 1.2 101.3 99.1 US$ 569.0 Rs. 46,756.6 Rs. 43,493.9 (d) Summary of Company’s share of profit/(loss) in equity accounted investees: Year ended March 31, 2023 2023 2022 2021 (In millions) Share of profit/(loss) in immaterial associates US$ 23.4 Rs. 1,920.3 Rs. 1,314.0 Rs. (164.1 ) Share of profit/(loss) in material joint venture 17.3 1,428.1 (1,848.0 ) (4,110.5 ) Share of profit/(loss) on other adjustments in material joint venture 0.2 15.4 (206.6 ) 485.0 US$ 40.9 Rs. 3,363.8 Rs. (740.6 ) Rs. (3,789.6 ) (e) Summary of Company’s share of other comprehensive income in equity accounted investees: Year ended March 31, 2023 2023 2022 2021 (In millions) Share of other comprehensive income in immaterial associates US$ 0.8 Rs. 62.9 Rs. 47.7 Rs. 30.2 Currency translation - immaterial associates (0.8 ) (66.3 ) 3.7 18.7 Currency translation - material joint venture 1.4 117.0 2,176.5 1,479.9 Currency translation - immaterial joint ventures — 2.2 (1.3 ) 1.5 US$ 1.4 Rs. 115.8 Rs. 2,226.6 Rs. 1,530.3 |
Chery Jaguar Land Rover Automotive Co. Limited [member] | |
Statement [line items] | |
Summary of Joint Venture | (i) Details of the Company’s material joint venture as at March 31, 2023 are as follows: Principal place of the business % holding Name of joint venture Principal activity 2023 2022 Chery Jaguar Land Rover Automotive Co. Limited (Chery) Manufacture and assembly of vehicles China 50 % 50 % Chery is a limited liability company, whose legal form confers separation between the parties to the joint arrangement. There is no contractual arrangement or any other facts and circumstances that indicate that the parties to the joint venture have rights to the assets and obligations for the liabilities of the joint arrangement. Accordingly, Chery is classified as a joint venture. Chery is not publicly listed. The following tables sets out the summarised financial information of Chery after adjusting for material differences in accounting policies: As at March 31, 2023 2023 2022 (In millions) Current assets US$ 802.3 Rs. 65,924.5 Rs. 62,539.3 Non-current 1,566.7 128,735.4 143,432.4 Current liabilities (1,454.1 ) (119,480.2 ) (137,225.3 ) Non-current (91.2 ) (7,495.8 ) (4,216.6 ) Total net assets of material joint venture 823.7 67,683.9 64,529.8 The above amounts of assets and liabilities include the following: Cash and cash equivalents 490.3 40,287.9 38,874.2 Current financial liabilities (excluding trade and other payables and provisions) (419.5 ) (34,471.9 ) (44,411.1 ) Other consolidation adjustments (5.9 ) (484.8 ) (468.2 ) Non-current (88.0 ) (7,230.6 ) (3,845.0 ) Share of net assets of material joint venture 411.9 33,842.0 32,264.9 Carrying amount of the Company’s interest in joint venture US$ 406.0 Rs. 33,357.2 Rs. 31,796.7 Year ended March 31, 2023 2023 2022 2021 (In millions) Revenue US$ 1,969.3 Rs. 161,814.2 Rs. 169,884.5 Rs. 180,580.0 Net income/(loss) 34.8 2,856.1 (3,695.9 ) (8,220.9 ) Total comprehensive income for the year 34.8 2,856.1 (3,695.9 ) (8,220.9 ) The above net income includes the following: Depreciation and amortization 206.3 16,953.9 18,423.7 19,898.1 Interest income (11.9 ) (979.9 ) (508.9 ) (720.8 ) Interest expense (net) 16.9 1,386.5 1,730.4 2,030.8 Income tax credit/(expenses) US$ 12.7 Rs. 1,045.6 Rs. 2,035.8 Rs. 3,060.7 |
Summary of Reconciliation of Financial Information to Carrying Amount of Interest in Joint Venture | Reconciliation of above summarized financial information to the carrying amount of the interest in the joint venture recognized in the consolidated financial statements: As at March 31, 2023 2023 2022 (In millions) Net assets of the joint venture US$ 823.7 Rs. 67,683.9 Rs. 64,529.8 Proportion of the Company’s interest in joint venture 411.9 33,842.0 32,264.9 Other consolidation adjustments (5.9 ) (484.8 ) (468.2 ) Carrying amount of the Company’s interest in joint venture US$ 406.0 Rs. 33,357.2 Rs. 31,796.7 |
Immaterial joint ventures [Member] | |
Statement [line items] | |
Summary of Financial Information of Immaterial Associates Accounted for using the Equity Method | The Company has no material associates as at March 31, 2023. The aggregate summarized financial information in respect of the Company’s immaterial associates that are accounted for using the equity method is set forth below. As at March 31, 2023 2023 2022 (In millions) Carrying amount of the Company’s interest in associates US$ 161.8 Rs. 13,298.1 Rs. 11,598.1 Year ended March 31, 2023 2023 2022 2021 (In millions) Company’s share of profit/(loss) in associates * US$ 23.4 Rs. 1,920.3 Rs. 1,314.0 Rs. (164.1 ) Company’s share of other comprehensive income in associates — (3.4 ) 51.4 48.9 Company’s share of total comprehensive income in associates US$ 23.3 Rs. 1,916.9 Rs. 1,365.4 Rs. (115.2 ) |
Summary of Joint Venture | (ii) The aggregate summarized financial information in respect of the Company’s immaterial joint ventures that are accounted for using the equity method is set forth below. Year ended March 31, 2023 2023 2022 2021 (In millions) Carrying amount of the Company’s interest in immaterial joint ventures US$ 1.2 Rs. 101.3 Rs. 99.1 Rs. 100.4 Year ended March 31, 2023 2023 2022 2021 (In millions) Company’s share of profit/(loss) in immaterial joint ventures* US$ — Rs. — Rs. — Rs. — Company’s share of other comprehensive income in immaterial joint ventures — 2.2 (1.3 ) 1.5 Company’s share of total comprehensive income in immaterial joint ventures US$ — Rs. 2.2 Rs. (1.3 ) Rs. 1.5 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Domestic and Foreign Components of Net Income Before Income Tax | The domestic and foreign components of net income before income tax: Year ended March 31, 2023 2023 2022 2021 (In millions) Net income/(loss) before income taxes India US$ 205.6 Rs. 16,890.6 Rs. (26,380.2 ) Rs. (28,703.4 ) Other than India 222.8 18,310.6 (43,787.1 ) (88,023.9 ) Total US$ 428.4 Rs. 35,201.2 Rs. (70,167.3 ) Rs. (116,727.3 ) |
Summary of Domestic and Foreign Components of Income Tax Expense | The domestic and foreign components of income tax expense: Year ended March 31, 2023 2023 2022 2021 (In millions) Current taxes India US$ 54.4 Rs. 4,469.2 3,397.3 Rs. 1,363.6 Other than India 342.1 28,114.3 23,302.5 15,738.2 Deferred taxes India (182.0 ) (14,962.8 ) (124.3 ) 146.5 Other than India (128.8 ) (10,580.1 ) 15,629.4 8,162.4 Total income tax expense US$ 85.7 Rs. 7,040.6 Rs. 42,204.9 Rs. 25,410.7 |
Summary of Reconciliation of Estimated Income Tax to Income Tax Expense | The reconciliation of income tax expense calculated as per tax rates applicable to individual entities with income tax expense/(credit) reported in the income statement is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Income/(loss) before income taxes US$ 428.4 Rs. 35,201.2 Rs. (70,167.3 ) Rs. (116,727.3 ) Income tax expense at tax rates applicable to individual entities 125.8 10,340.1 (9,514.7 ) (22,615.8 ) Additional deduction for patent, research and product development cost — — (13.4 ) 16.6 Items (net) not deductible for tax /not liable to tax: - foreign Currency (gain)/loss relating to loans and deposits (net), foreign Currency (gain)/loss arising on account of Integral foreign operations (6.1 ) (498.0 ) (38.3 ) 49.5 - interest and other expenses relating to borrowings for investment 8.8 722.0 638.6 315.7 - Write-down of assets not qualifying for tax relief — — — 4,295.6 - Others (10.7 ) (883.3 ) 1,607.6 634.7 Undistributed earnings of subsidiaries, joint operations and equity accounted investees 73.3 6,022.9 4,072.5 3,109.3 Deferred tax assets not recognized because realization is not probable 84.2 6,921.7 35,281.9 39,658.8 Utilization/credit of unrecognized tax losses, unabsorbed depreciation and other tax benefits (66.6 ) (5,474.5 ) (7,253.4 ) (3,471.6 ) Deferred tax assets recognized on unabsorbed depreciation and others (refer note 3 below) (240.6 ) (19,770.1 ) — — Deferred tax assets recognized on Long term capital loss (18.3 ) (1,504.8 ) — — Previously recognised deferred tax assets written down — — (63.4 ) (1.0 ) Profit on sale of investments in subsidiaries and Others — — — 15.2 Tax on share of (profit)/loss of equity accounted investees (net) 9.2 758.3 (70.1 ) 744.9 Impact of change in rates on moving to new tax regime (refer note 2 below) 63.6 5,223.6 Impact of change in statutory tax rates (refer note below) 2.4 193.2 20.4 929.6 Others 60.7 4,989.5 4,708.0 1,729.2 Profit on sale of passenger vehicle undertaking (Common control transaction) — — 12,829.2 — Income tax expense/(credit) reported in consolidated income statement US$ 85.7 Rs. 7,040.6 Rs. 42,204.9 Rs. 25,410.7 |
Summary of Significant Components of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities for the year ended March 31, 2023 are as follows: Opening Impact of change in tax rates recognised in statement of profit and loss (Refer 2 0 Recognized in profit or loss Recognized in/ reclassified from other comprehensive income MAT Closing balance Other than Translation translation (In millions) Deferred tax assets: Unabsorbed depreciation Rs. 18,589.8 Rs. (7,705.1 ) Rs. 10,415.1 Rs. (1.2 ) Rs. — Rs. — Rs. 21,298.6 Business loss carry forwards (3,306.3 ) — 25,877.6 2,169.3 — — 24,740.6 Other tax losses -Long term capital loss — — 1,504.8 — — — 1,504.8 Expenses deductible in future years: — Provisions, allowances for doubtful receivables and others 31,457.2 (1,130.5 ) (1,699.9 ) 251.2 0.1 — 28,878.1 Compensated absences and retirement benefits (8,288.0 ) (423.4 ) (4,293.9 ) (789.8 ) 397.7 — (13,397.4 ) Minimum alternate tax carry-forward 508.6 — 1,884.5 — — (1,248.0 ) 1,145.1 Property, plant and equipment 108,268.9 — (30,273.1 ) (832.4 ) — — 77,163.4 Derivative financial instruments 13,482.2 (297.9 ) 3,804.0 427.3 (11,660.4 ) — 5,755.2 Unrealized profit on inventory 7,645.1 — 4,052.5 601.2 — — 12,298.8 Others 2,032.5 (278.0 ) 19,818.3 1,952.4 52.4 — 23,577.6 Total deferred tax assets Rs. 170,390.0 Rs. (9,834.9 ) Rs. 31,089.9 Rs. 3,778.0 Rs. (11,210.2 ) Rs. (1,248.0 ) Rs. 182,964.8 Deferred tax liabilities: Property, plant and equipment 11,014.2 (2,851.3 ) 2,517.2 0.8 — — 10,680.9 Intangible assets 113,435.6 (1,720.7 ) (5,143.5 ) 1,956.6 — — 108,528.0 Undistributed earnings in subsidiaries, joint operations and equity accounted investees 18,041.7 2,210.5 1,304.1 * 380.0 — — 21,936.3 Fair valuation of retained interest in a subsidiary subsequent to disposal of controlling equity interest 169.5 — — — — — 169.5 Others 4,604.7 (484.8 ) (119.4 ) 7.3 (134.9 ) 3,872.9 Total deferred tax liabilities Rs. 147,265.7 Rs. (2,846.2 ) Rs. (1,441.6 ) Rs. 2,344.7 Rs. (134.9 ) Rs. — Rs. 145,187.6 Net assets/(liabilities) Rs. 23,124.3 Rs. (6,988.7 ) Rs. 32,531.5 Rs. 1,433.3 Rs. (11,075.3 ) Rs. (1,248.0 ) Rs. 37,777.2 US$ 281.4 US$ (85.1 ) US$ 395.9 US$ 17.4 US$ (134.8 ) US$ (15.2 ) US$ 459.7 Deferred tax assets Rs. 51,846.7 Deferred tax liabilities Rs. (14,069.5 ) Deferred tax assets US$ 630.8 Deferred tax liabilities US$ (171.2 ) * Net of Rs.2,508.3 million reversed on dividend distribution by subsidiaries. Significant components of deferred tax assets and liabilities for the year ended March 31, 2022 are as follows: Opening balance Recognized in profit or loss Recognized in/ reclassified from other comprehensive income Movement due to Closing Translation Other than (In millions) Deferred tax assets: Unabsorbed depreciation Rs. 20,906.9 Rs. (1,543.1 Rs. — Rs. — Rs. (774.0 18,589.8 Business loss carry forwards 18,642.3 (4,817.7 ) 160.4 — (17,291.3 ) (3,306.3 ) Expenses deductible in future years: — Provisions, allowances for doubtful receivables and others 34,812.9 (3,565.3 ) 932.1 0.8 (723.3 ) 31,457.2 Compensated absences and retirement benefits 9,645.5 (9,207.0 ) 3,315.5 (12,042.0 ) — (8,288.0 ) Minimum alternate tax carry-forward 0.5 508.1 — — — 508.6 Property, plant and equipment 77,331.0 33,285.7 (2,347.8 ) — — 108,268.9 Derivative financial instruments (1,162.3 ) (3,077.7 ) (5,902.0 ) 23,624.2 — 13,482.2 Unrealized profit on inventory 10,748.9 (3,082.0 ) (21.8 — — 7,645.1 Others 7,268.4 (5,396.3 ) 119.7 53.2 (12.5 ) 2,032.5 Total deferred tax assets Rs. 178,194.1 Rs. 3,104.7 Rs. (3,743.9 ) Rs. 11,636.2 Rs. (18,801.1 ) 170,390.0 Deferred tax liabilities: Property, plant and equipment Rs. 15,607.5 Rs. 580.7 1.2 — (5,175.2 ) 11,014.2 Intangible assets 112,705.2 16,317.2 (1,960.9 ) — (13,625.9 ) 113,435.6 Undistributed earnings in subsidiaries, joint operations and equity accounted investees 17,643.0 520.0 * (121.3 ) — — 18,041.7 Fair valuation of retained interest in a subsidiary subsequent to disposal of controlling equity interest 169.5 — — — — 169.5 Others 2,424.3 1,191.9 (2.7 ) 991.2 4,604.7 Total deferred tax liabilities Rs. 148,549.5 Rs. 18,609.8 Rs. (2,083.7 ) 991.2 Rs. (18,801.1 ) 147,265.7 Net assets/(liabilities) Rs. 29,644.6 Rs. (15,505.1 ) Rs. (1,660.2 ) Rs. 10,645.0 Rs. — 23,124.3 Deferred tax assets Rs. 38,708.7 Deferred tax liabilities Rs. (15,584.4 ) * Net of Rs.3,552.5 million reversed on dividend distribution by subsidiaries. ** Tata Motors Limited has transferred its Passenger Vehicle Business into a subsidiary. This has resulted in movement of balances at Parent Company. Significant components of deferred tax assets and liabilities for the year ended March 31, 2021 are as follows: Opening Recognized in Recognized in/ reclassified from other comprehensive income Closing balance Translation Other than translation (In millions) Deferred tax assets: Unabsorbed depreciation Rs. 21,867.5 Rs. (944.5 ) Rs. (16.0 ) Rs. (0.1 ) Rs. 20,906.9 Business loss carry forwards 30,926.7 (12,606.6 322.2 — 18,642.3 Expenses deductible in future years: — Provisions, allowances for doubtful receivables and others 44,213.1 (9,714.9 ) 314.5 0.2 34,812.9 Compensated absences and retirement benefits (4,177.3 ) (143.5 ) (1,105.2 ) 15,071.5 9,645.5 Minimum alternate tax carry-forward 671.5 (671.0 ) — — 0.5 Property, plant and equipment 59,417.5 12,223.9 5,689.6 — 77,331.0 Derivative financial instruments 7,756.6 1,779.4 1,057.0 (11,755.3 ) (1,162.3 ) Unrealized profit on inventory 12,167.2 (2,171.8 ) 753.5 — 10,748.9 Others 15,337.1 (8,369.6 ) 316.8 (15.9 ) 7,268.4 Total deferred tax assets Rs. 188,179.9 Rs. (20,618.6 ) Rs. 7,332.4 Rs. 3,300.4 Rs. 178,194.1 Deferred tax liabilities: Property, plant and equipment 12,967.2 2,640.9 (0.6 ) — 15,607.5 Intangible assets 121,935.8 (15,651.6 ) 6,421.0 — 112,705.2 Undistributed earnings in subsidiaries, joint operations and equity accounted investees 15,881.7 952.7 * 808.6 — 17,643.0 Fair valuation of retained interest in a subsidiary subsequent to disposal of controlling equity interest 169.5 — — — 169.5 Others 2,065.8 (251.7 ) (6.9 ) 617.1 2,424.3 Total deferred tax liabilities Rs. 153,020.0 Rs. (12,309.7 ) Rs. 7,222.1 Rs. 617.1 Rs. 148,549.5 Net assets/(liabilities) Rs. 35,159.9 Rs. (8,308.9 ) Rs. 110.3 Rs. 2,683.3 Rs. 29,644.6 Deferred tax assets Rs. 45,203.5 Deferred tax liabilities Rs. (15,558.9 ) * Net of Rs.2,156.6 million reversed on dividend distribution by subsidiaries. |
Summary of Unrecognized Deferred Tax Assets Expire Unutilized based on Year of Origination | Unrecognized deferred tax assets expire unutilized based on the year of origination as follows: March 31, In millions 2024 US$ 6.4 Rs. 526.9 2025 63.8 5,245.7 2026 5.5 450.4 2027 39.2 3,222.1 2028 102.5 8,424.3 Thereafter US$ 122.9 Rs. 10,094.8 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Short-term borrowings and current portion of long-term debt [Member] | |
Statement [line items] | |
Summary of Debt | Short-term borrowings and current portion of long-term debt consist of the following: As at March 31, 2023 2023 2022 (In millions) Commercial paper US$ 589.8 Rs. 48,466.2 Rs. 58,571.8 Loans from banks/financial institutions 1,116.1 91,722.1 112,802.0 Inter-corporate deposits 5.8 480.0 2,410.0 Current portion of long-term debt (refer note 22) 2,786.6 228,978.3 245,394.9 Total US$ 4,498.3 Rs. 369,646.6 Rs. 419,178.7 |
Long-term debt [Member] | |
Statement [line items] | |
Summary of Debt | Long-term debt consists of the following: As at March 31, 2023 2023 2022 (In millions) Non-convertible US$ 1,377.3 Rs. 113,174.3 Rs. 131,126.3 Perpetual debentures 212.3 17,440.9 17,182.0 Collateralized debt obligations 9.1 748.7 11,825.4 Buyers credit from banks at floating interest rate 310.3 25,500.0 40,583.7 Loan from banks/financial institutions 5,149.4 423,126.5 439,985.5 Senior notes 6,443.6 529,471.2 576,219.0 Others 77.5 6,366.7 5,956.5 Total 13,579.5 1,115,828.3 1,222,878.4 Less: current portion (refer note 21) 2,786.6 228,978.3 245,394.9 Long-term debt US$ 10,792.9 Rs. 886,850.0 Rs. 977,483.5 |
Summary of assets are pledged as collateral against the borrowings | Following assets are pledged as collateral/security against the borrowings: As at March 31, 2023 2023 2022 (In millions) Other current assets (i.e. Inventory and Trade receivables) US$ 23.0 Rs. 1,892.2 Rs. 8,078.8 Finance receivables 2,770.7 227,666.9 254,877.3 Property, plant and equipment 276.4 22,712.9 58,287.8 Total US$ 3,070.1 Rs. 252,272.0 Rs. 321,243.9 |
Summary of the reconciliation of movements of liabilities to cash flows arising from financing activities | Reconciliation of movements of liabilities to cash flows arising from financing activities: Short-term Long-term Total Balance at April 1, 2021 Rs. 427,917.4 Rs. 931,019.7 Rs. 1,358,937.1 Proceeds from issuance of debt 168,967.8 315,212.0 484,179.8 Repayment of debt (214,360.4 ) (233,558.0 ) (447,918.4 ) Reclassification of debt 34,104.4 (34,104.4 ) — Foreign exchange (822.4 ) (5,077.1 ) (5,899.5 ) Amortisation / EIR adjustment of prepaid borrowing costs (net) 3,371.9 3,991.3 7,363.2 Balance at March 31, 2022 Rs. 419,178.7 Rs. 977,483.5 Rs. 1,396,662.2 Proceeds from issuance of debt 281,254.5 165,619.3 446,873.8 Repayment of debt (317,515.5 ) (315,594.6 ) (633,110.1 ) Reclassification of debt (16,416.9 ) 16,416.9 — Foreign exchange 1,613.6 41,052.3 42,665.9 Amortisation / EIR adjustment of prepaid borrowing costs (net) 1,532.2 1,872.6 3,404.8 Balance at March 31, 2023 Rs. 369,646.6 Rs. 886,850.0 Rs. 1,256,496.6 US$ 4,498.6 US$ 10,792.9 US$ 15,291.4 |
Long-term debt [Member] | Luxembourg Stock Exchange [Member] | |
Statement [line items] | |
Summary of Debt | Details of the tranches of the senior notes outstanding at March 31, 2023 are as follows: Issued on Currency Initial Principal (in millions) Outstanding (in millions) Outstanding (In millions) As at March 31, 2023 2022 Interest rate Redeemable on January 2013 USD 500 500 Rs. — Rs. 37,769.2 5.625 % February 2023 February 2015 GBP 400 400 — 39,715.3 3.875 % March 2023 January 2017 EUR 650 650 58,069.0 * 54,727.3 2.200 % January 2024 October 2017 USD 500 500 40,863.9 37,617.3 4.500 % March 2027 October 2018 EUR 500 500 31,090.9 35,370.2 4.500 % January 2026 November 2019 EUR 500 500 44,568.9 41,981.2 5.875 % November 2024 November 2019 EUR 500 500 45,007.7 42,561.9 6.875 % November 2026 October 2020 USD 700 700 57,153.3 52,552.8 7.750 % October 2025 December 2020 USD 650 650 52,982.4 48,745.8 5.875 % January 2028 July 2021 EUR 500 500 40,807.5 37,567.2 5.500 % July 2029 July 2021 EUR 500 500 44,439.8 41,894.3 4.500 % July 2028 Total Rs. 414,983.4 Rs. 470,502.5 |
Long-term debt [Member] | Singapore Stock Exchange [Member] | |
Statement [line items] | |
Summary of Debt | The senior notes of Tata Motors Limited and TML Holdings Pte Ltd are listed on the SGX-ST Issued on Currency Initial amounts (in millions) Outstanding Principal (in millions) Outstanding (In millions) Interest rate Redeemable on As at March 31, 2023 2022 October 2014 USD 250 250 Rs. 20,494.7 Rs. 18,768.6 5.750 % October 2024 June 2021 USD 425 425 34,862.8 31,994.6 4.350 % June 2026 November 2019 USD 300 300 24,592.4 22,739.3 5.875 % May 2025 July 2020 GBP 98 98 9,878.3 9,601.9 4.000 % July 2023 October 2020 USD 300 300 24,659.6 22,612.5 5.500 % June 2024 Total Rs. 114,487.8 Rs. 105,716.9 |
Other financial liabilities (Ta
Other financial liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Other financial liabilities - current [Member] | |
Statement [line items] | |
Summary of Other Financial Liabilities | Other current financial liabilities consist of the following: As at March 31, 2023 2023 2022 (In millions) Liability towards vehicles sold under repurchase arrangements US$ 367.8 Rs. 30,220.1 Rs. 26,581.4 Interest accrued but not due 204.0 16,764.9 17,468.0 Lease liabilities (Refer note 14) 107.7 8,844.8 8,095.4 Derivative financial instruments 533.3 43,822.3 44,434.2 Others 95.9 7,876.5 5,970.4 Total US$ 1,308.6 Rs. 107,528.6 Rs. 102,549.4 |
Other financial liabilities - non-current [Member] | |
Statement [line items] | |
Summary of Other Financial Liabilities | Other financial liabilities non-current As at March 31, 2023 2023 2022 (In millions) Lease liabilities (Refer note 14) US$ 921.1 Rs. 75,684.9 Rs. 59,624.4 Derivative financial instruments 655.2 53,841.0 34,155.4 Liability towards employee separation scheme 10.8 890.1 1,095.0 Compulsorily convertible preference shares - liability portion 304.2 25,000.0 12,500.0 Others 42.6 3,500.0 5,593.8 Total US$ 1,934.0 Rs. 158,916.0 Rs. 112,968.6 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Provisions | 25B. Provisions consist of the following: As at March 31, 2023 2023 2022 (In millions) Current Product warranty US$ 946.2 Rs. 77,752.5 Rs. 67,808.8 Legal and product liability 461.6 37,922.7 25,046.5 Provision for residual risk 11.1 912.5 1,217.5 Provision for environmental liability 7.2 593.8 289.2 Provision for onerous contracts — — 1,179.0 Restructuring Provision 4.3 356.2 11,036.2 Employee related and other provisions 6.9 568.9 1,087.4 * Total-Current US$ 1,437.3 Rs. 118,106.6 Rs. 107,664.6 Non-current Product warranty US$ 1,304.2 R s. 107,166.0 Rs. 109,527.6 Legal and product liability 92.7 7,616.7 3,968.0 Provision for residual risk 9.9 813.0 1,930.5 Provision for environmental liability 32.3 2,658.7 2,258.6 Employee benefits obligations 155.1 12,743.6 11,187.3 Other provisions 11.8 968.5 686.9 Total-Non-current US$ 1,606.0 Rs. 131,966.5 Rs. 129,558.9 * Includes provision towards employee claims in foreign subsidiaries. Year ended March 31, 2023 2023 2023 2023 2023 2023 Product Warranty Legal and product liability Restructuring provision (In millions) Balance at the beginning US$ 2,158.1 Rs. 177,336.5 US$ 353.1 Rs. 29,014.5 US$ 134.3 Rs. 11,036.2 Provision made during the year 1,100.4 90,421.9 792.4 65,109.8 2.6 216.3 Provision used during the year (1,068.0 ) (87,761.3 ) (627.2 ) (51,533.5 ) (129.3 ) (10,627.3 ) Impact of unwind of discounting 13.1 1,077.6 — — — — Currency translation 46.8 3,843.8 36.0 2,948.6 (3.3 ) (269.0 ) Balance at the end US$ 2,250.4 Rs. 184,918.5 US$ 554.3 Rs. 45,539.4 US$ 4.3 Rs. 356.2 Current US$ 946.2 Rs. 77,752.5 US$ 461.6 Rs. 37,922.7 US$ 4.3 Rs. 356.2 Non-current US$ 1,304.2 Rs. 107,166.0 US$ 92.7 Rs. 7,616.7 US$ — Rs. — Year ended March 31, 2023 2023 2023 2023 2023 2023 Onerous Contract Provision for residual risk Provision for (In millions) Balance at the beginning US$ 14.3 Rs. 1,179.0 US$ 38.2 Rs. 3,148.0 US$ 31.0 Rs. 2,547.8 Provision made/(reversed) during the year (5.2 ) (426.5 ) (18.3 ) (1,503.1 ) 9.2 760.0 Provision used during the year (1.7 ) (141.5 ) 0.2 8.3 (1.8 ) (143.8 ) Currency translation — — 0.9 72.3 1.1 88.5 Transfer to Liabilities (7.4 ) (611.0 ) — — — — Balance at the end US$ — Rs. — US$ 21.0 Rs. 1,725.5 US$ 39.5 Rs. 3,252.5 Current US$ — Rs. — US$ 11.1 Rs. 912.5 US$ 7.2 Rs. 593.8 Non-current US$ — Rs. — US$ 9.9 Rs. 813.0 US$ 32.3 Rs. 2,658.7 |
Other current liabilities (Tabl
Other current liabilities (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Other Current Liabilities | Other current liabilities consist of the following: As at March 31, 2023 2023 2022 (In millions) Contract liabilities (refer note 27 below) US$ 764.7 Rs. 62,838.5 Rs. 65,586.5 Statutory dues 463.0 38,041.7 41,437.5 Others 17.5 1,434.7 1,218.0 Total US$ 1,245.2 Rs. 102,314.9 Rs. 108,242.0 |
Other liabilities - non-curre_2
Other liabilities - non-current (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Other liabilities - Non-Current | Other liabilities non-current As at March 31, 2023 2023 2022 (In millions) Employee benefit obligations US$ 34.1 Rs. 2,798.6 Rs. 3,237.4 Contract liabilities (refer note below) 723.1 59,421.8 45,359.0 Others 18.6 1,525.6 1,389.6 Total US$ 775.8 Rs. 63,746.0 Rs. 49,986.0 Note: (a) Statement showing movement of contract liabilities is as follows: Year ended March 31, 2021 2023 2023 2022 (In millions) Opening contract liabilities US$ 1,350.2 Rs. 110,945.5 Rs. 105,836.3 Amount recognized in revenue during the year (698.4 ) (57,391.1 ) (46,061.9 ) Amount received in advance during the year 815.5 67,019.3 53,721.2 Amount refunded to customers during the year (2.3 ) (188.4 ) (1,522.0 ) Currency translation 22.8 1,875.0 (1,028.1 ) Balance at the end US$ 1,487.8 Rs. 122,260.3 Rs. 110,945.5 Performance obligations in respect of amount received for future maintenance service and extended warranty will be fulfilled over a period of 6 years upto March 31, 2029. (b) Contract liabilities comprise of the following As at March 31, 2023 2023 2022 (In millions) Advances received from customers - current US$ 353.1 Rs. 29,015.9 Rs. 34,972.3 Deferred revenue - current 411.6 33,822.6 30,614.2 Deferred revenue -Non-current 723.1 59,421.8 45,359.0 Total contract liabilities US$ 1,487.8 Rs. 122,260.3 Rs. 110,945.5 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Movement of Number of Shares and Share Capital | The movement of number of shares and share capital is as follows: Year ended March 31, Year ended March 31, 2023 2022 2021 Ordinary shares ‘A’ Ordinary shares Ordinary shares ‘A’ Ordinary shares Ordinary shares ‘A’ Ordinary shares No. of shares (In No. of (In No. of shares (In No. of (In No. of shares (In No. of (In Shares at the beginning 3,320,662,007 Rs. 6,641.8 508,502,896 Rs. 1,017.0 3,320,307,765 Rs. 6,641.1 508,502,896 Rs. 1,017.0 3,088,973,894 Rs. 6,178.4 508,502,896 Rs. 1,017.0 Shares issued on exercise of stock options by employees 682,318 1.4 — — 354,242 0.7 — — — — — — Shares issued under Preferential allotment (refer note below) — — — — — — — — 231,333,871 462.7 — — Allotment of shares held in abeyance # — — — — — — — — — — — — Shares at the end 3,321,344,325 Rs. 6,643.2 508,502,896 Rs. 1,017.0 3,320,662,007 Rs. 6,641.8 508,502,896 Rs. 1,017.0 3,320,307,765 Rs. 6,641.1 508,502,896 Rs. 1,017.0 US$ 80.8 US$ 12.4 # Out of shares held in abeyance - Rights issue of 2001, 2008 and 2015. |
Other components of equity (Tab
Other components of equity (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [line items] | |
Summary of Other Components of Equity | (f) Summary of Other components of equity: Year ended March 31, 2023 2023 2022 2021 (In millions) Currency translation reserve US$ 1,176.0 Rs. 96,628.6 Rs. 88,560.6 Rs. 89,692.0 Investments reserve 83.6 6,873.2 7,796.9 4,373.5 Hedging reserve (862.9 ) (70,905.2 ) (59,799.0 ) (1,222.1 ) Cost of hedge reserve (122.8 ) (10,088.2 ) 864.3 (6.1 ) Debt reserve 55.8 4,588.0 3,997.4 2,567.8 Total US$ 329.7 Rs. 27,096.4 Rs. 41,420.2 Rs. 95,405.1 |
Currency translation reserve [Member] | |
Statement [line items] | |
Summary of Other Components of Equity | (a) The movement of Currency translation reserve is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 1,077.8 Rs. 88,560.6 Rs. 89,692.0 Rs. 51,422.5 Exchange differences arising on translating the net assets of foreign operations (net) 143.4 11,784.2 (4,756.7 ) 40,454.9 Change in effective portion of hedges of net investment in foreign operations (45.9 ) (3,769.1 ) 1,446.4 (3,685.5 ) Net change in translation reserve - equity accounted investees (net) 0.7 52.9 2,178.9 1,500.1 Balance at the end US$ 1,176.0 Rs. 96,628.6 Rs. 88,560.6 Rs. 89,692.0 |
Gain/(loss) on Equity instruments held as fair value through other comprehensive income [Member] | |
Statement [line items] | |
Summary of Other Components of Equity | (b) The movement of gain/(loss) on Equity instruments held as fair value through other comprehensive income(FVTOCI) is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 94.8 Rs. 7,796.9 Rs. 4,373.5 Rs. 391.0 Other Comprehensive income for the year (16.0 ) (1,317.9 ) 3,953.0 4,206.6 Income tax relating to gain/(loss) recognized on equity investments, where applicable 4.8 394.2 (529.6 ) (180.5 ) Profit on sale of equity investments reclassified to retained earnings — — — (43.6 ) US$ 83.6 Rs. 6,873.2 Rs. 7,796.9 Rs. 4,373.5 |
Hedging reserve [Member] | |
Statement [line items] | |
Summary of Other Components of Equity | (c) The movement of Hedging reserve is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ (727.7 ) Rs. (59,799.0 ) Rs. (1,222.1 ) Rs. (41,937.1 ) Gain/(loss) recognized on cash flow hedges (739.3 ) (60,747.4 ) (84,257.9 ) 38,456.8 Income tax relating to gain/loss recognized on cash flow hedges (10.4 ) (848.6 ) 19,568.5 (7,356.4 ) (Gain)/loss reclassified to profit or loss 728.3 59,842.1 (6,213.7 ) 11,455.9 Income tax relating to gain/loss reclassified to profit or loss (152.7 ) (12,547.3 ) 1,264.3 (2,210.1 ) Amount reclassed from Hedge reserve to Inventory on maturity of inventory hedges 48.0 3,944.6 13,656.7 456.1 Income tax on amount reclassed from Hedge reserve to Inventory on maturity of inventory hedges (9.1 ) (749.6 ) (2,594.8 ) (87.3 ) Balance at the end US$ (862.9 ) Rs. (70,905.2 ) Rs. (59,799.0 ) Rs. (1,222.1 ) Of the above balance related to: Continued hedges (851.2 ) (69,945.1 ) (58,838.9 ) (516.8 ) Discontinued hedges (11.7 ) (960.1 ) (960.1 ) (705.4 ) |
Movements of cost of hedging reserve which included time value of options forward element of forward contracts and foreign currency basis spread [Member] | |
Statement [line items] | |
Summary of Other Components of Equity | (d) The movement of Cost of Hedging reserve is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 10.5 Rs. 864.3 Rs. (6.1 ) Rs. (4,428.7 ) Gain/(loss) recognized on cash flow hedges (150.5 ) (12,364.5 ) 1,603.0 5,791.9 Income tax relating to gain/loss recognized on cash flow hedges 17.0 1,399.3 (243.3 ) (1,169.8 ) (Gain)/loss reclassified to profit or loss (2.5 ) (206.2 ) (1,879.4 ) (1,254.6 ) Income tax relating to gain/loss reclassified to profit or loss (2.1 (174.2 ) 343.6 181.7 Amounts removed from hedge reserve and recognized in inventory 5.9 484.5 1,292.0 1,077.2 Income tax related to amounts removed from hedge reserve and recognized in inventory (1.1 ) (91.4 ) (245.5 ) (203.8 ) Balance at the end US$ (122.8 ) Rs. (10,088.2 ) Rs. 864.3 Rs. (6.1 ) Of the above balance related to Continued hedges (122.8 ) (10,088.2 ) 864.3 (6.1 ) Discontinued hedges — — — — |
Reserve of gains and losses from investments in Debt instruments [Member] | |
Statement [line items] | |
Disclosure Of Detailed Information About Other Components Of Equity Explanatory [Text Block] | (e) The movement of gain/(loss) on debt instruments held at fair value through other comprehensive income(FVTOCI) is as follows: Year ended March 31, 2023 2023 2022 2021 (In millions) Balance at the beginning US$ 48.6 Rs. 3,997.4 Rs. 2,567.8 Rs. 886.3 Other Comprehensive income for the year 11.9 975.2 1,981.6 2,069.0 (Gain)/loss reclassified to profit or loss (2.4 ) (198.6 ) Income tax relating to gain/(loss) recognized on debt investments, where applicable (2.3 ) (186.0 ) (552.0 ) (387.5 ) Balance at the end US$ 55.8 Rs. 4,588.0 Rs. 3,997.4 Rs. 2,567.8 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of revenue | 31B. Revenue consists of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Sale of products - Sale of vehicles US$ 35,984.2 Rs. 2,956,819.0 Rs. 2,263,993.8 Rs. 2,073,997.4 - Sale of spare parts 3,934.2 323,276.4 287,792.9 244,181.9 - Sale of miscellaneous products 1,692.0 139,034.7 126,524.0 99,764.5 Sale of Services 458.0 37,630.8 38,711.2 33,747.3 Total revenue from contract with customers US$ 42,068.4 Rs. 3,456,760.9 Rs. 2,717,021.9 Rs. 2,451,691.1 Realised revenue hedges (690.6 ) (56,750.1 ) 7,626.5 (10,540.1 ) Revenues US$ 41,377.8 Rs. 3,400,010.8 Rs. 2,724,648.4 Rs. 2,441,151.0 |
Employee cost (Tables)
Employee cost (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [line items] | |
Summary of Employee Cost | Employee cost consists of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Salaries, wages and welfare expenses US$ 3,820.4 Rs. 313,926.6 Rs. 279,624.2 Rs. 253,440.4 Contribution to provident fund and other funds 275.5 22,634.8 28,558.9 27,643.3 Total US$ 4,095.9 Rs. 336,561.4 Rs. 308,183.1 Rs. 281,083.7 * The amount of Rs.300.3 million, Rs. million and Rs.90.4 million has accrued in salaries, wages and bonus for the year ended March 31, 2023, 2022 and 2021 respectively towards share based payments. |
Summary of Equity Settled Share Based Payments | Year ended March 31, Reconciliation of outstanding ESOP 2023 2022 Options outstanding at the beginning of the year 6,662,551 6,804,003 Granted during the year — 335,209 Forfeited/Expired during the year (3,045,214 ) (122,419 ) Exercised during the year (753,622 (354,242 ) Options outstanding at the end of the year 2,863,715 6,662,551 Number of shares to be issued for outstanding options (conditional on performance measures) Maximum 4,295,573 9,993,827 Minimum 1,431,858 3,331,276 Share price for options exercised during the year Rs. 372 - 490 Rs. 392 - 530 Remaining contractual life 3 months 3 - 15 months Year ended March 31, 2023 2022 ESOs PSUs ESOs PSUs Reconciliation of outstanding ESOs/ PSUs No. of options No. of options No. of options No. of options Outstanding at the beginning of the period 839,650 964,569 — — Granted during the period — 659,186 839,650 964,569 Forfeited during the period (78,822 ) (92,349 ) — — Exercised during the period — — — — Outstanding at the end of the period 760,828 1,531,406 839,650 964,569 Remaining contractual life 28 months 28 months 28 months 28 months |
Summary of Estimated Fair Value of Options Using Black Scholes Model. | The following assumptions were used for calculation of fair value of options granted. Year ended March 31, Assumption factor 2023 2022 Risk free interest rate 7%-8% 7%-8% Expected life of option 2-4 2-4 Expected volatility 33%-37% 33%-37% Share price Rs. 170.6 Rs. 170.6 Granted during Granted during Year ended March 31, 2022 Assumption factor PSUs ESOs PSUs Risk free interest rate 5.3 % 5.3 % 5.3 % Expected life of option 4 years 3.8 years 3.8 years Expected volatility 52.0 % 50.7 % 50.7 % Share price Rs . 453.4 Rs . 376.4 Rs . 376.4 |
Summary of Net Periodic Cost | Net severance indemnity cost consist of the following components: Year ended March 31, 2023 2023 2022 2021 (In millions) Service cost US$ 6.6 Rs. 539.0 Rs. 482.1 Rs. 546.7 Net interest cost 0.1 6.9 0.4 5.6 Net periodic pension cost US$ 6.7 Rs. 545.9 Rs. 482.5 Rs. 552.3 |
Pension and post retirement medical plans [Member] | |
Statement [line items] | |
Summary of Amounts Recognized in Financial Statements | The following tables sets out the funded and unfunded status and the amounts recognized in the financial statements for the pension and the post retirement medical plans in respect of Tata Motors, its Indian subsidiaries and joint operations: For the year ended March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2023 2023 2022 (In millions) Change in defined benefit obligations: Defined benefit obligation, beginning of the year US$ 189.0 Rs. 15,521.7 Rs. 13,374.1 US$ 34.4 Rs. 2,831.2 Rs. 1,844.9 Current service cost 13.0 1,065.6 904.7 1.8 144.4 82.1 Interest cost 13.0 1,070.3 883.7 2.3 192.5 115.7 Remeasurements (gains) / losses Actuarial (gains) / losses arising from changes in demographic assumptions (0.3 ) (22.4 ) 68.1 0.1 4.3 69.5 Actuarial (gains) / losses arising from changes in financial assumptions 2.0 165.7 217.3 1.9 156.3 320.0 Actuarial (gains) / losses arising from changes in experience adjustments 4.8 395.9 735.0 2.5 206.9 329.3 Benefits paid from plan assets (9.5 ) (777.7 ) (839.3 ) — — — Benefits paid directly by employer (1.4 ) (116.2 ) (109.0 ) (1.9 ) (153.9 ) (172.4 ) Past service cost plan amendment — — 324.9 5.3 431.9 244.6 Acquisition/(Divestment) 0.7 59.5 (37.8 ) — — (2.5 ) Defined benefit obligation, end of the year US$ 211.3 Rs. 17,362.4 Rs. 15,521.7 US$ 46.4 Rs. 3,813.6 Rs. 2,831.2 Change in plan assets: Fair value of plan assets, beginning of the year US$ 157.3 Rs. 12,918.1 Rs. 12,313.1 US$ — Rs. — Rs. — Interest income 11.6 956.0 831.2 — — — Remeasurements gains / (losses) Return on plan assets, (excluding amount included in net Interest Cost) 0.1 11.0 110.1 — — — Employer’s contributions 23.9 1,962.6 529.5 — — — Benefits paid (9.5 ) (777.7 ) (839.3 ) — — — Acquisition/(Divestment) 0.7 59.7 (26.5 ) Fair value of plan assets, end of the year US$ 184.1 Rs. 15,129.7 Rs. 12,918.1 US$ Rs. — Rs. — As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2023 2023 2022 (In millions) Amount recognized in the balance sheet consists of: Present value of defined benefit obligation US$ 211.3 Rs. 17,362.4 Rs. 15,521.7 US$ 46.4 Rs. 3,813.6 Rs. 2,831.2 Fair value of plan assets 184.1 15,129.7 12,918.1 — — — Net liability (27.2 ) (2,232.7 ) (2,603.6 ) (46.4 ) (3,813.6 ) (2,831.2 ) Asset Ceiling (0.6 ) (48.8 ) (41.9 ) — — — Net liability US$ (27.8 ) Rs. (2,281.5 ) Rs. (2,645.5 ) US$ (46.4 ) Rs. (3,813.6 ) Rs. (2,831.2 ) Amounts in the balance sheet: Non–current assets US$ 4.1 Rs. 339.0 20.7 US$ — Rs. — Rs. — Non–current liabilities (31.9 ) (2,620.3 ) (2,666.2 ) (46.4 ) (3,813.6 ) (2,831.2 ) Net liability US$ (27.8 ) Rs. (2,281.5 ) Rs. (2,645.5 ) US$ (46.4 ) Rs. (3,813.6 ) Rs. (2,831.2 ) |
Summary of Information for Funded and Unfunded Plans | Information for funded plans with a defined benefit obligation in excess of plan assets: As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) 2023 2023 2022 (In millions) Defined benefit obligation US$ 54.7 Rs. 4,491.6 Rs. 10,655.3 Fair value of plan assets US$ 49.9 Rs. 4,102.9 Rs. 10,084.3 Information for funded plans with a defined benefit obligation less than plan assets: As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) 2023 2023 2022 (In millions) Defined benefit obligation US$ 129.5 Rs. 10,639.2 Rs. 2,771.3 Fair value of plan assets US$ 134.2 Rs. 11,027.0 Rs. 2,833.9 Information for unfunded plans: As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2023 2023 2022 (In millions) Defined benefit obligation US$ 27.2 Rs. 2,231.6 Rs. 2,095.0 US$ 46.4 Rs. 3,813.6 Rs. 2,831.2 |
Summary of Net Periodic Cost | Net pension and post retirement medical cost consist of the following components: Year ended March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2021 2023 2023 2022 2021 (In millions) Service cost US$ 13.0 Rs. 1,065.6 Rs. 904.7 Rs. 901.2 US$ 1.8 144.4 Rs. 82.1 Rs. 78.7 Past Service cost - Plan amendment — — 324.9 — 5.3 431.9 244.6 — Net interest cost / (income) 1.4 114.3 52.5 77.1 2.3 192.5 115.7 108.0 Net periodic cost US$ 14.4 Rs. 1,179.9 Rs. 1,282.1 Rs. 978.3 US$ 9.4 Rs. 768.8 Rs. 442.4 Rs. 186.7 |
Summary of Remeasurements (Gains)/Losses Recognized in Other Comprehensive Income | Other changes in plan assets and benefit obligation recognized in other comprehensive income. Year ended March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2023 2022 2021 2023 2023 2022 2021 (In millions) Remeasurements (gains) / losses Return on plan assets, (excluding amount included in net Interest expense) US$ (0.1 ) Rs. (11.0) Rs. (110.1) Rs. (355.9) US$ — Rs. — Rs. — Rs. — Actuarial (gains) / losses arising from changes in demographic assumptions (0.3 ) (22.4 ) 68.1 (24.6 ) 0.1 4.3 69.5 — Actuarial (gains) / losses arising from changes in financial assumptions 2.0 165.7 217.3 (0.6 ) 1.9 156.3 320.0 57.9 Asset ceiling 0.1 6.8 41.9 29.2 — — — — Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities 4.8 395.9 735.0 (129.8 ) 2.5 206.9 329.3 2.8 Total recognized in other comprehensive income US$ 6.5 Rs. 535.0 Rs. 952.2 Rs. (481.7) US$ 4.5 Rs. 367.5 Rs. 718.8 Rs. 60.7 Total recognized in consolidated statement of comprehensive income US$ 20.9 Rs. 1,714.9 Rs. 2,234.3 Rs. 496.6 US$ 13.9 Rs. 1,136.3 Rs. 1,161.2 Rs. 247.4 |
Summary of Assumptions Used | The assumptions used in accounting for the pension and post retirement medical plans are set out below: As at March 31, Pension benefits (Gratuity, Superannuation, BKY/PSY) Post retirement medical benefits 2023 2022 2021 2023 2022 2021 Discount rate 7.1% - 7.3% 6.50% - 7.10% 6.00% - 6.90% 0.00 % 7.20 % 6.90 % Rate of increase in compensation level of covered employees 6% - 12% 6% - 10% 5.75% - 10.00% NA NA NA Increase in health care cost NA NA NA 0.00 % 6.00 % 6.00 % |
Summary of Sensitivity Analysis | The table below outlines the effect on the service cost, the interest cost and the defined benefit obligation in the event of a decrease/increase of 1% in the assumed rate of discount rate, salary escalation and health care cost: Assumption Change in assumption Impact on defined benefit obligation Impact on service cost and interest cost Discount rate Increase by 1% Decrease by Rs.1,699.4 million Decrease by Rs.323.6 million Decrease by 1% Increase by Rs.1,975.8 million Increase by Rs.355.2 million Salary escalation rate Increase by 1% Increase by Rs.1,337.0 million Increase by Rs.306.4 million Decrease by 1% Decrease by Rs.1,194.7 million Decrease by Rs.270.6 million Health care cost Increase by 1% Increase by Rs.514.3 million Increase by Rs.100.4 million Decrease by 1% Decrease by Rs.424.9 million Decrease by Rs.81.4 million |
Summary of Fair Value by Category | The fair value of Company’s pension plan asset by category are as follows: As at March 31, 2023 2022 Asset category: Cash and cash equivalents 9.5 % 2.3 % Debt instruments (quoted) 65.1 % 66.1 % Debt instruments (unquoted) 0.0 % 0.1 % Equity instruments (quoted) 7.7 % 7.4 % Deposits with Insurance companies 17.7 % 24.1 % 100.0 % 100.0 % |
Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] | |
Statement [line items] | |
Summary of Amounts Recognized in Financial Statements | The following table sets out, the amounts recognized in the financial statements for the severance indemnity plan. For the year ended March 31, 2023 2023 2022 (In millions) Change in defined benefit obligation: Defined benefit obligation, beginning of the year US$ 46.6 Rs. 3,827.5 Rs. 3,110.8 Service cost 6.6 539.0 482.1 Interest cost 1.4 111.9 63.9 Remeasurements (gains) / losses - Actuarial (gains) / losses arising from changes in financial assumptions (4.6 ) (379.7 ) (53.6 ) Actuarial (gains) / losses arising from changes in experience adjustments 0.2 17.5 412.2 Benefits paid from plan assets (0.8 ) (67.6 ) (62.5 ) Benefits paid directly by employer — (4.0 ) (7.9 ) Foreign currency translation 0.5 42.8 (117.5 ) Defined benefit obligation, end of the year US$ 49.9 Rs. 4,087.4 Rs. 3,827.5 Change in plan assets: Fair value of plan assets, beginning of the year US$ 40.9 3,357.1 2,650.6 Interest income 1.3 105.0 63.5 Remeasurements gain / (loss) Return on plan assets, (excluding amount included in net Interest expense) (0.5 ) (41.9 ) (54.7 ) Employer’s contributions 5.6 461.3 862.5 Benefits paid (0.8 ) (67.6 ) (62.5 ) Foreign currency translation 0.5 44.6 (102.3 ) Fair value of plan assets, end of the year US$ 47.0 Rs. 3,858.5 Rs. 3,357.1 As at March 31, 2023 2023 2022 (In millions) Amount recognized in the balance sheet consist of: Present value of defined benefit obligation US$ 49.7 Rs. 4,087.4 Rs. 3,827.5 Fair value of plan assets 47.0 3,858.5 3,357.1 Net liability US$ (2.7 ) Rs. (228.9 ) Rs. (470.4 ) Amounts in the balance sheet: Non- US$ (2.7 ) Rs. (228.9 ) Rs. (470.4 ) |
Summary of Remeasurements (Gains)/Losses Recognized in Other Comprehensive Income | Other changes in plan assets and benefit obligation recognized in other comprehensive income for severance indemnity plan: As at March 31, 2023 2023 2022 2021 (In millions) Remeasurements (gains) / losses Return on plan assets, (excluding amount included in net Interest expense) US$ 0.5 41.9 Rs. 54.7 Rs. 15.9 Actuarial (gains) / losses arising from changes in financial assumptions (4.6 ) (379.7 ) (53.6 ) (213.5 ) Actuarial (gains) / losses arising from changes in experience adjustments 0.2 17.5 412.2 (196.6 ) Actuarial (gains) / losses arising from changes in demographic assumption — — — 150.4 Total recognized in other comprehensive income US$ (3.9 ) Rs. (320.3 ) Rs. 413.3 Rs. (243.8 ) Total recognized in income statement and other comprehensive income US$ 2.8 Rs. 225.6 Rs. 895.8 Rs. 308.5 |
Summary of Assumptions Used | The assumptions used in accounting for the Severance indemnity plan is set out below: As at March 31, 2023 2022 2021 Discount rate 3.4 % 2.1 % 1.6 % Rate of increase in compensation level of covered employees 3.9 % 3.5 % 3.5 % |
Summary of Sensitivity Analysis | The table below outlines the effect on the service cost, the interest cost and the defined benefit obligation in the event of a decrease/increase of 1% in the assumed rate of discount rate, salary escalation rate: Assumption Change in assumption Impact on defined benefit Impact on service cost and interest cost Discount rate Increase by 1% Decrease by Rs.428.0 millions Decrease by Rs.128.0 millions Decrease by 1% Increase by Rs.498.3 millions Increase by Rs.147.1 millions Salary escalation rate Increase by 1% Increase by Rs.490.6 millions Increase by Rs.151.8 millions Decrease by 1% Decrease by Rs.430.0 millions Decrease by Rs.130.8 millions |
Summary of Fair Value by Category | Severance indemnity plans asset allocation by category is as follows: As at March 31, 2023 2022 Deposit with banks 100 % 100 % |
Jaguar Land Rover Pension plan [member] | |
Statement [line items] | |
Summary of Amounts Recognized in Financial Statements | The following table sets out the disclosure pertaining to employee benefits of Jaguar Land Rover Limited As at March 31, Pension benefits 2023 2023 2022 (In millions) Change in defined benefit obligation: Defined benefit obligation, beginning of the year US$ 9,101.0 Rs. 747,837.1 Rs. 849,619.6 Service cost 96.2 7,902.8 11,823.1 Interest cost 250.1 20,551.3 17,946.0 Remeasurements (gains) / losses Actuarial (gains) / losses arising from changes in demographic assumptions 0.1 5.8 1,045.6 Actuarial (gains) / losses arising from changes in financial assumptions (2,777.6 ) (228,239.2 ) (71,812.3 ) Actuarial (gains) / losses arising from changes in experience adjustments 183.8 15,099.7 (274.9 ) Past service cost/(credit) (181.9 ) (14,950.7 ) 2.0 Benefits paid (440.4 ) (36,191.4 ) (51,317.1 ) Member contributions 1.5 120.1 189.4 Premium Paid — — (225.0 ) Foreign currency translation 62.2 5,112.5 (9,159.3 ) Defined benefit obligation, end of the year US$ 6,295.0 Rs. 517,248.0 Rs. 747,837.1 Change in plan assets: Fair value of plan assets, beginning of the year US$ 9,596.6 Rs. 788,556.2 Rs. 810,714.6 Interest Income 288.9 23,737.6 17,333.1 Remeasurements gains / (losses) Return on plan assets, (excluding amount included in net Interest expense) (2,611.3 ) (214,573.0 ) 927.5 Employer’s contributions 192.9 15,848.3 24,184.8 Members contributions 1.5 120.1 189.4 Benefits paid (440.4 ) (36,191.4 ) (51,317.1 ) Premium paid — — (225.00 ) Expenses paid (30.7 ) (2,519.0 ) (2,719.3 ) Foreign currency translation 86.2 7,080.0 (10,531.8 ) Fair value of plan assets, end of the year US$ 7,083.7 Rs. 582,058.8 Rs. 788,556.2 The actual return on the schemes’ assets for the year ended March 31, 2023 was Rs.190,835.4 million (2022: Rs. 17,796.8 million) As at March 31, Pension benefits 2023 2023 2022 (In millions) Amount recognized in the balance sheet consist of: Present value of defined benefit obligation US$ 6,295.0 Rs. 517,248.0 Rs. 747,837.1 Fair value of plan Assets 7,083.7 582,058.8 788,556.2 Net (liability)/Assets US$ 788.7 Rs. 64,810.8 Rs. 40,719.1 Amount recognized in the balance sheet consist of: Non- US$ 815.2 Rs. 66,989.2 Rs. 43,169.6 Non -current liabilities (26.5 ) (2,178.4 ) (2,450.5 ) Net (liability)/Assets US$ 788.7 Rs. 64,810.8 Rs. 40,719.1 |
Summary of Net Periodic Cost | Net pension and post retirement cost consist of the following components: Year ended March 31, Pension benefits 2023 2023 2022 2021 (In millions) Current service cost US$ 96.2 Rs. 7,902.8 Rs. 11,823.1 Rs. 12,715.2 Past service cost/(credit) (181.9 ) (14,950.7 ) 2.0 1,559.8 Administrative expenses 30.7 2,519.0 2,719.3 2,159.5 Net interest cost / (income) (including onerous obligations) (38.8 ) (3,186.3 ) 612.9 (395.9 ) Net periodic pension cost US$ (93.8 ) Rs. (7,715.2 ) Rs. 15,157.3 Rs. 16,038.6 |
Summary of Remeasurements (Gains)/Losses Recognized in Other Comprehensive Income | Amount recognized in other comprehensive income Year ended March 31, Pension benefits 2023 2023 2022 2021 (In millions) Remeasurements (gains) / losses Actuarial (gains) / losses arising from changes in demographic assumptions US$ 0.1 Rs. 5.8 Rs. 1,045.6 Rs. (2,035.0 ) Actuarial (gains) / losses arising from changes in financial assumptions (2,777.6 ) (228,239.2 ) (71,812.3 ) 84,311.8 Actuarial (gains) / losses arising from changes in experience adjustments 183.8 15,099.7 (274.9 ) (7,263.6 ) Return on plan assets, (excluding amount included in net Interest expense) 2,611.3 214,573.0 (927.5 ) (2,151.0 ) Total recognized in other comprehensive income US$ 17.6 Rs. 1,439.3 Rs. (71,969.1 ) Rs. 72,862.2 Total recognized in income statement and other comprehensive income US$ (76.2 ) Rs. (6,275.9 ) Rs. (56,811.8 ) Rs. 88,900.8 |
Summary of Assumptions Used | The assumptions used in accounting for the pension plans are set out below: As at March 31, Pension benefits 2023 2022 2021 Discount rate 4.8 % 2.8 % 2.1 % Expected rate of increase in benefit revaluation of covered employees 1.9 % 2.2 % 2.1 % RPI Inflation rate 2.9 % 3.5 % 3.1 % CPI Inflation rate 1.7 % 0.0 % 0.0 % The assumed life expectations on retirement at age 65 are (years) Retiring today: Males 21.5 21.6 21.0 Females 23.8 23.8 23.3 Retiring in 20 years: Males 22.9 23.0 22.4 Females 25.7 25.7 25.2 |
Summary of Sensitivity Analysis | The sensitivity analysis below is based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the pension liability recognized within the consolidated balance sheet. Assumption Change in assumption Impact on defined benefit obligation Impact on service cost and interest cost Discount rate Increase / decrease by 0.25% Decrease/increase by Rs.19,383.7 million Decrease/increase by Rs . Inflation rate Increase / decrease by 0.25% Increase/decrease by Rs.10,581.2 million Increase/decrease by Rs.162.6 million Mortality rate Increase /decrease by 1 year Increase/decrease by Rs.14,738.5 million Increase/decrease by Rs.142.3 million |
Summary of Fair Value by Category | As at March 31, 2023 2022 Quoted * Unquoted Total Quoted * Unquoted Total (In millions) Equity Instruments Information Technology — — — — 12,661.0 12,661.0 Energy — — — — 1,808.7 1,808.7 Manufacturing — — — — 9,495.7 9,495.7 Financials — — — — 4,069.6 4,069.6 Others — — — — 17,182.1 17,182.1 — — — — 45,217.1 45,217.1 Debt Instruments Government Bonds # 186,050.7 (34,457.6 151,593.1 180,264.6 6,504.7 186,769.3 Corporate Bonds (Investment Grade) 78,063.2 25,411.2 103,474.4 114,277.3 30,845.6 145,122.9 Corporate Bonds (Non Investment Grade) — 77,148.4 77,148.4 — 96,739.0 96,739.0 264,113.9 68,102.0 332,215.9 294,541.9 134,089.3 428,631.2 Property Funds UK — 29,375.3 29,375.3 — 30,503.1 30,503.1 Other — 23,378.3 23,378.3 — 23,881.5 23,881.5 — 52,753.6 52,753.6 — 54,384.6 54,384.6 Cash and Cash equivalents 5,285.5 25,817.8 31,103.3 7,496.5 36,041.0 43,537.5 Other Hedge Funds — 31,713.2 31,713.2 — 50,268.5 50,268.5 Private Markets — 109,573.1 109,573.1 — 99,244.4 99,244.4 Alternatives — 18,905.9 18,905.9 — 45,893.8 45,893.8 — 160,192.2 160,192.2 — 195,406.7 195,406.7 Derivatives Foreign exchange contracts — 1,728.0 1,728.0 — (3,459.9 ) (3,459.9 ) Interest Rate and inflation — 4,065.8 4,065.8 — 24,839.0 24,839.0 Equity protection derivatives — — — — — — — 5,793.8 5,793.8 — 21,379.1 21,379.1 Total 269,399.4 312,659.4 582,058.8 302,038.4 486,517.8 788,556.2 * determined on the basis of quoted prices for identical assets or liabilities in active markets. # As at March 31, 2023, the schemes held Gilt Repos. The net value of these transactions is included in the value of government bonds in the table above. The value of the funding obligation for the Repo transactions is Rs.49,501.1 million at March 31, 2023 (2022: Rs.145,357 million). |
Defined Benefit Provident Fund Plan [Member] | |
Statement [line items] | |
Summary of Information for Funded and Unfunded Plans | The following tables set out the funded status of the defined benefit provident fund plan of a Joint Operation and the amounts recognized in the Company’s financial statements. For the year ended March 31, 2023 2023 2022 (In millions) Change in benefit obligations: Defined benefit obligations at the beginning US$ 497.2 Rs. 40,854.2 Rs. 45,596.5 Service cost 0.5 41.0 1,268.9 Employee contribution 0.9 73.0 2,923.6 Acquisitions (credit) / cost — — (8,042.8 ) Transfer in / Transfer out 0.2 12.9 — Interest expense 1.1 88.5 3,564.7 Actuarial (gains) / losses arising from changes in experience adjustments 0.2 15.8 (786.2 ) Actuarial (gains) / losses arising from demographic assumptions — — 33.5 Actuarial (gains) / losses arising from changes in financial assumptions (0.5 ) (40.1 ) 1,473.2 Benefits paid (0.7 ) (55.3 ) (3,173.0 ) Balance transferred to government managed provident fund (482.5 ) (39,643.5 ) (2,004.2 ) Defined benefit obligation, end of the year US$ 16.4 Rs. 1,346.5 Rs. 40,854.2 For the year ended March 31, 2023 2023 2022 (In millions) Change in plan assets: Fair value of plan assets at the beginning US$ 505.5 Rs. 41,534.6 Rs. 44,702.1 Acquisition Adjustment — — (8,042.8 ) Transfer in / Transfer out 0.2 12.9 — Interest income 1.0 85.8 3,509.2 Return on plan assets excluding amounts included in interest income (0.4 ) (29.9 ) 2,322.1 Contributions (employer and employee) 1.4 114.1 4,190.3 Benefits paid (0.7 ) (55.3 ) (3,173.0 ) Balance transferred to government managed provident fund (491.2 ) (40,362.6 ) (1,973.3 ) Fair value of plan assets, end of the year US$ 15.8 Rs. 1,299.6 Rs. 41,534.6 For the year ended March 31, 2023 2023 2022 (In millions) Amount recognized in the balance sheet consists of Fair value of plan assets US$ 15.8 Rs. 1,299.6 Rs. 41,534.6 Present value of defined benefit obligation 16.4 1,346.5 40,854.2 (0.6 ) (46.9 ) 680.4 Effect of asset ceiling — — (684.5 ) Net liability US$ (0.6 ) Rs. (46.9 ) Rs. (4.1 ) For the year ended March 31, 2023 2023 2022 (In millions) Net periodic cost for Provident Fund consists of the following components: Service cost US$ 0.5 41.0 1,268.9 Net interest cost / (income) — 2.7 55.5 Net periodic cost US$ 0.5 Rs. 43.7 Rs. 1,324.4 As at March 31 2023 2023 2022 (In millions) Other changes in plan assets and benefit obligation recognised in other comprehensive income Remeasurements Return on plan assets, (excluding amount included in net Interest expense) US$ 0.4 Rs. 29.9 Rs. (2,322.1 ) Actuarial (gains) / losses arising from changes in experience adjustments 0.2 15.8 (786.2 ) Actuarial (gains) / losses arising from changes in financial assumptions (0.5 ) (40.1 ) 1,473.2 Actuarial (gains) / losses arising from demographic assumptions — — 33.5 Reversal of OCI for previous years due to surrender of Provident Fund — — (30.9 ) Adjustments for limits on net asset — — 719.1 Total recognised in other comprehensive income 0.1 5.6 (913.4 ) Total recognized in statement of profit and loss and other comprehensive income US$ 0.6 Rs. 49.3 Rs. 411.0 |
Summary of Assumptions Used | The assumptions used in determining the present value obligation of the Provident Fund is set out below: As at March 31 2023 2022 Discount rate 7.30 % 7.10 % Expected rate of return on plan assets 8.50 % 8.00 % Remaining term to maturity of portfolio (years) 19.00 13.50 |
Summary of Fair Value by Category | The breakup of the plan assets into various categories is as follows: As at March 31 2023 2022 Central and State government bonds 0.0 % 42.7 % Government debt instruments 50.7 % 0.0 % Other debt instruments 40.1 % 0.0 % Equity instruments 9.2 % 0.0 % Public sector undertakings and Private sector bonds 0.0 % 32.2 % Others 0.0 % 25.1 % Total 100.0 % 100.0 % |
Other expenses (Tables)
Other expenses (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Other Expenses | Other expenses consist of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Stores, spare parts and tools consumed US$ 195.9 Rs. 16,096.3 Rs. 14,460.9 Rs. 12,790.5 Freight and transportation expenses 918.5 75,476.4 62,779.6 57,157.9 Research and product development cost 1,297.5 106,619.6 92,095.0 52,266.2 Warranty and product liability expenses 1,277.5 104,973.3 88,416.3 76,819.4 Allowance for trade and other receivables, and finance receivables 253.9 20,860.1 14,265.9 9,786.3 Works operation and other expenses 3,270.5 268,729.6 213,833.9 189,460.4 Repairs to building and plant and machinery 81.3 6,681.5 4,998.1 4,282.3 Processing charges 217.3 17,858.5 14,064.8 9,656.7 Power and fuel 305.9 25,133.3 21,782.9 11,128.7 Insurance 53.8 4,418.5 4,157.7 3,362.4 Publicity 734.5 60,353.8 48,636.5 43,846.3 Total US$ 8,606.6 Rs. 707,200.9 Rs. 579,491.6 Rs. 470,557.1 |
Other income_(loss) (net) (Tabl
Other income/(loss) (net) (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Other Income/(Loss) (Net) | 34B. Other income/(loss) (net) consist of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Miscellaneous income US$ 215.5 Rs. 17,710.8 Rs. 17,624.3 Rs. 13,916.1 Incentives 274.4 22,540.3 13,383.0 12,475.7 Gain / (Loss) on change in fair value of commodity derivatives (172.2 ) (14,148.3 ) 13,705.7 13,820.9 Dividend income from investments measured at FVTOCI 5.6 464.2 342.2 183.7 Profit on sale of investments measured at FVTPL 37.1 3,048.8 2,137.0 1,772.6 Fair value gain/(loss) on investments measured at FVTPL 11.4 932.7 528.6 199.1 Total US$ 371.8 Rs. 30,548.5 Rs. 47,720.8 Rs. 42,368.1 |
Interest expense (Tables)
Interest expense (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Interest Expense | Interest expense consists of the following: Year ended March 31, 2023 2023 2022 2021 (In millions) Gross interest expense US$ 1,282.4 Rs. 105,375.1 Rs. 99,000.2 Rs. 92,333.4 Less: Interest capitalized * (36.3 ) (2,982.8 ) (5,737.1 ) (11,492.9 ) Total US$ 1,246.1 Rs. 102,392.3 Rs. 93,263.1 Rs. 80,840.5 * Represents borrowing costs capitalized during the year on qualifying assets (property plant and equipment and product development). |
Capital Management (Tables)
Capital Management (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Capital | The following table summarizes the capital of the Company: As at March 31, 2023 2023 2022 (In millions) Equity* US$ 5,637.7 Rs. 463,254.4 Rs. 410,673.3 Short-term borrowings and current portion of long-term debt 4,498.3 369,646.6 419,178.7 Long-term debt 10,792.9 886,850.0 977,483.5 Total debt 15,291.2 1,256,496.6 1,396,662.2 Total capital (Debt + Equity) US$ 20,928.9 Rs. 1,719,751.0 Rs. 1,807,335.5 * Details of equity : As at March 31, 2023 2023 2022 (In millions) Total equity as reported in balance sheet US$ 5,833.7 Rs. 479,355.5 Rs. 440,564.6 Currency translation reserve attributable to - Shareholders of Tata Motors Limited (1,176.0 ) (96,628.6 ) (88,560.6 ) - Non-controlling (5.7 ) (465.9 ) (265.4 ) Hedging reserve 862.9 70,905.2 59,799.0 Cost of hedge reserve 122.8 10,088.2 (864.3 ) Equity as reported above US$ 5,637.7 Rs. 463,254.4 Rs. 410,673.3 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Statement [line items] | |
Summary of Carrying Amounts and Fair Value of Each Category of Financial Assets and Liabilities | The following table presents the carrying amounts and fair value of each category of financial assets and liabilities as at March 31, 2023. (a) Financial assets Cash and other financial assets at amortized cost Non-Derivative Financial assets at fair value Derivatives other than in hedging relationship (at fair value through Derivatives in hedging relationship (at fair value) Total carrying value Total fair value Total carrying value Total fair value (In millions) Cash and cash equivalents Rs. 318,869.5 Rs. — Rs. — Rs. — Rs. 318,869.5 Rs. 318,869.5 US$ 3,880.6 US$ 3,880.6 Short-term deposits 44,870.9 — — — 44,870.9 44,870.9 546.1 546.1 Finance receivables 138,098.9 170,238.4 — — 308,337.3 309,352.8 3,752.5 3,764.8 Trade receivables 157,379.7 — — — 157,379.7 157,379.7 1,915.3 1,915.3 Other investments - non-current 10,760.0 17,891.9 — — 28,651.9 28,651.9 348.7 348.7 Other investments - current 147,618.2 40,764.8 — — 188,383.0 188,383.0 2,292.6 2,292.6 Other financial assets -current 45,735.8 — 6,793.1 4,781.8 57,310.7 57,310.7 697.5 697.5 Other financial assets- non-current 52,123.0 — 10,378.4 16,481.7 78,983.1 78,983.1 961.2 961.2 Total Rs. 915,456.0 Rs. 228,895.1 Rs. 17,171.5 Rs. 21,263.5 Rs. 1,182,786.1 Rs. 1,183,801.6 US$ 14,394.5 US$ 14,406.8 Financial liabilities Other financial liabilities (at amortized cost) Other Derivatives other than in hedging relationship (at fair value) Derivatives in hedging relationship (at fair value) Total carrying value Total fair value Total carrying value Total fair value (In millions) Accounts payable Rs. 760,389.7 Rs. — Rs. — Rs. 760,389.7 Rs. 760,389.7 US$ 9,253.9 US$ 9,253.9 Acceptances 71,960.1 — — 71,960.1 71,960.1 875.7 875.7 Short-term debt (excluding current portion of long-term debt) 140,668.3 — — 140,668.3 140,668.3 1,711.9 1,711.9 Long-term debt (including current portion of long-term debt) (refer note below) 1,115,828.3 — — 1,115,828.3 1,089,877.7 13,579.5 13,263.7 Other financial liabilities -current 63,706.3 5,974.3 37,848.0 107,528.6 107,528.6 1,308.6 1,308.6 Other financial liabilities- non-current 80,075.0 25,000.0 5,808.2 48,032.8 158,916.0 158,916.0 1,934.0 1,934.0 Total Rs. 2,232,627.7 Rs. 25,000.0 Rs. 11,782.5 Rs. 85,880.8 Rs. 2,355,291.0 Rs. 2,329,340.4 US$ 28,663.6 US$ 28,347.8 Note: 1 Includes Rs.77,575.7 million designated as hedged item in fair value hedge relationship. This includes a loss of Rs.6,488.9 million on account of fair value changes attributable to the hedged interest rate risk. 2 Includes Rs.109,166.5 million (GBP1,074 million) designated as hedging instruments in net investment hedge relationship. The following table presents the carrying amounts and fair value of each category of financial assets and liabilities as at March 31, 2022. Financial assets Cash and other financial assets at cost Non-Derivative Derivatives in hedging profit or loss) Derivatives in hedging Total carrying value Total fair value (In millions) Cash and cash equivalents Rs. 381,590.1 Rs. — Rs. — Rs. — Rs. 381,590.1 Rs. 381,590.1 Short-term deposits 20,375.8 — — — 20,375.8 20,375.8 Finance receivables 191,409.2 140,902.9 — — 332,312.1 334,954.9 Trade receivables 124,421.2 — — — 124,421.2 124,421.2 Other investments - non-current 5,426.1 17,783.1 — — 23,209.2 23,209.2 Other investments - current 169,051.0 58,041.2 — — 227,092.2 227,092.2 Other financial assets - current 40,258.6 — 13,334.3 5,850.6 59,443.5 59,443.5 Other financial assets - non-current 40,052.5 — 12,229.9 7,946.0 60,228.4 60,228.4 Total Rs. 972,584.5 Rs. 216,727.2 Rs. 25,564.2 Rs. 13,796.6 Rs. 1,228,672.5 Rs. 1,231,315.3 Financial liabilities Other financial liabilities (at cost) Other Derivatives Derivatives Total carrying value Total fair value (In millions) Accounts payable Rs. 649,452.8 Rs. — Rs. — Rs. 649,452.8 Rs. 649,452.8 Acceptances 97,799.5 — — 97,799.5 97,799.5 Short-term debt (excluding current portion of long-term debt) 173,783.7 — — 173,783.7 173,783.7 Long-term debt (including current portion of long-term debt) (refer note below) 1,222,878.4 — — 1,222,878.4 1,223,740.8 Other financial liabilities - current 58,115.2 3,060.0 41,374.2 102,549.4 102,549.4 Other financial liabilities -non-current 66,313.2 12,500.0 5,297.4 28,858.0 112,968.6 115,880.1 Total Rs. 2,268,342.8 Rs. 12,500.0 Rs. 8,357.4 Rs. 70,232.2 Rs. 2,359,432.4 Rs. 2,363,206.2 Note: 1 Includes Rs.74,735.6 million designated as hedged item in fair value hedge relationship. This includes a loss of Rs.6,780.5 million on account of fair value changes attributable to the hedged interest rate risk. 2 Includes Rs.91,833 million (GBP924 million) designated as hedging instruments in net investment hedge relationship. |
Summary of Reconciliation of Financial Assets Measured At Fair Value Using Significant Unobservable Inputs | Reconciliation of financial assets measured at fair value using significant unobservable For the year ended March 31, 2023 2023 2022 Balance at the beginning US$ 1,839.7 Rs. 151,171.9 Rs. 88,578.0 Originated or purchased during the period 857.5 70,464.0 101,887.9 Interest accrued on loans measured at FVOCI (4.7 ) (385.3 ) 398.8 Disposals during the period (460.2 ) (37,813.4 ) (40,748.7 ) Loan loss provision recognised (18.5 ) (1,518.6 ) (1,383.9 ) Fair value changes recognized through OCI (10.1 ) (832.7 ) 2,122.0 Fair value changes recognized through P & L 5.5 453.9 209.1 Foreign exchange translation difference 0.2 13.6 108.7 Balance at the end US$ 2,209.4 Rs. 181,553.4 Rs. 151,171.9 |
Summary of Amounts that have been Offset and Amounts that are Available for Offset | The following table discloses the amounts that have been offset, in arriving at the balance sheet presentation and the amounts that are available for offset only under certain conditions as at March 31, 2023: Gross amount recognized Gross amount recognized as set off in the balance sheet Net amount presented in the balance sheet Amounts subject to an enforceable Net amount after offsetting Financial assets Financial instruments Cash collateral (received/ pledged) (In millions) Derivative financial instruments Rs. 38,435.0 Rs. — Rs. 38,435.0 Rs. (20,555.7 ) Rs. — Rs. 17,879.3 Trade receivables 161,552.0 (4,172.3 ) 157,379.7 — — 157,379.7 Cash and cash equivalents 342,856.7 (23,987.2 ) 318,869.5 — — 318,869.5 Total Rs. 542,843.7 Rs. (28,159.5) Rs. 514,684.2 Rs. (20,555.7 ) Rs. — Rs. 494,128.5 US$ 6,606.3 US$ (342.7) US$ 6,263.7 US$ (250.2 ) US$ — US$ 6,013.5 Financial liabilities Derivative financial instruments Rs. 97,663.3 Rs. — Rs.97,663.3 Rs. (20,555.7 ) Rs. — Rs. 77,107.6 Accounts payable 764,562.0 (4,172.3 ) 760,389.7 — — 760,389.7 Loans from banks/financial institutions (short-term) 115,709.3 (23,987.2 ) 91,722.1 — — 91,722.1 Total Rs. 977,934.6 Rs. (28,159.5) Rs. 949,775.1 Rs. (20,555.7 ) Rs. — Rs. 929,219.4 US$ 11,901.4 US$ (342.7) US$ 11,558.7 US$ (250.2 ) US$ — US$ 11,308.5 The following table discloses the amounts that have been offset in arriving at the balance sheet presentation and the amounts that are available for offset only under certain conditions as at March 31, 2022: Gross amount recognized Gross amount recognized as set off in the balance sheet Net amount presented in the balance sheet Amounts subject to an enforceable Net amount after offsetting Financial assets Financial instruments Cash collateral (received/ pledged) (In millions) Derivative financial instruments Rs. 39,360.8 Rs. — Rs. 39,360.8 Rs. (28,168.9) Rs. — Rs. 11,191.9 Trade receivables 124,437.6 (16.4 ) 124,421.2 — — 124,421.2 Cash and cash equivalents 397,299.0 (15,708.9 ) 381,590.1 — — 381,590.1 Total Rs. 561,097.4 Rs. (15,725.3) Rs. 545,372.1 Rs. (28,168.9) Rs. — Rs. 517,203.2 Financial liabilities Derivative financial instruments Rs. 78,589.6 Rs. — Rs. 78,589.6 Rs. (28,168.9) Rs. — Rs. 50,420.7 Accounts payable 649,469.2 (16.4 ) 649,452.8 — — 649,452.8 Loans from banks/financial institutions (short-term) 128,510.9 (15,708.9 ) 112,802.0 — — 112,802.0 Total Rs. 856,569.7 Rs. (15,725.3) Rs. 840,844.4 Rs. (28,168.9) Rs. — Rs. 812,675.5 |
Summary of Carrying Amount of Trade Receivables and Finance Receivables Sold Along with Associated Liabilities | The carrying amount of trade receivables and finance receivables transferred along with the associated liabilities is as follows: As at March 31, 2023 2023 2022 Nature of Asset Carrying Carrying Carrying Carrying Carrying Carrying (In millions) Trade receivables US$ — US$ — Rs. — Rs. — Rs. 318.0 Rs. 318.0 Finance receivables US$ 13.0 US$ 9.1 Rs. 1,069.1 * Rs. 748.7 Rs. 12,464.8 * Rs. 11,817.2 * Net of provision of Rs.26 million and Rs.239.5 million as at March 31, 2023 and 2022, respectively. |
Summary of Gain (Loss) from Cash Flow Hedges Recognized in Other Comprehensive Income and Income Statement | Year ended March 31, 2023 2023 2022 2021 (In millions) Fair value gain/(loss) on foreign currency derivative contracts recognized in Hedging reserve US$ (961.4 ) Rs (78,995.0 ) Rs. (78,778.3 ) Rs. 65,674.3 Fair value gain/(loss) on foreign currency bonds recognized in Hedging reserve 65.4 5,373.6 (3,824.1 ) (21,527.6 ) Fair value gain/(loss) on cross currency interest rate swaps entered for cash flow hedges of repayment of foreign currency denominated borrowings recognized in Hedging reserve 6.2 509.6 (52.5 ) 294.1 Fair value gain/(loss) on interest rate swaps entered for cash flow hedges of payment of interest on borrowings that are benchmarked to libor — — — (192.10 ) Gain/(loss) recognized in other comprehensive income during the year US$ (889.8 ) Rs. (73,111.8 ) Rs. (82,654.9 ) Rs. 44,248.7 Gain/(loss) reclassified from Hedging reserve and recognized in ‘Revenue’ in the income statement on occurrence of forecast sales US$ (711.7 ) Rs. (58,483.8 ) Rs. 7,626.5 Rs. (10,540.1 ) Gain/(loss) reclassified out of Hedging reserve and recorded in ‘Raw materials, components and consumables’ in the income statement when forecast purchases affect income statement (53.9 ) (4,429.1 ) — (1,533.3 ) Gain/(loss) reclassified from Hedging reserve and recognized in ‘Foreign exchange (gain)/loss (net)’ in the income statement for the case where on account of forecasted transactions are no longer expected to occur (14.3 ) (1,177.7 ) 1,051.0 3,320.1 Gain/(loss) reclassified from cost of Hedge reserve and recognized in ‘Foreign exchange (gain)/loss (net)’ in the income statement for the case where on account of forecasted transactions are no longer expected to occur — 25.6 (0.5 ) — Gain/(loss) reclassified from Hedging reserve and recognized in ‘Foreign exchange (gain)/loss (net)’ in the income statement for repayment of foreign currency denominated borrowings — (583.9 ) (1,448.0 ) Gain/(loss) reclassified from other comprehensive income to the consolidated income statement US$ (779.9 ) Rs. (64,065.0 ) Rs. 8,093.1 Rs. (10,201.3 ) |
Summary of effect of changes in foreign exchange rates | The table below outlines the effect change in foreign currencies exposure for the year ended March 31, 2023: Change in assumption Impact on Company’s financial assets Impact on Company’s net income before tax for financial liabilities Appreciation in foreign currencies by 10% Increase by Rs.40,672.1 million Decrease by Rs.(116,548.2) million Depreciation in foreign currencies by 10% Decrease by Rs.(40,672.1) million Increase by Rs.116,548.2 million * Others mainly include currencies such as the Russian rouble, Singapore dollars, Swiss franc, Australian dollars, South African rand, Thai baht, Japanese Yen and Korean won. The table below outlines the effect change in foreign currencies exposure for the year ended March 31, 2022: Change in assumption Impact on Company’s financial assets Impact on Company’s net income before tax for financial liabilities Appreciation in foreign currencies by 10% Increase by Rs.35,265.7 million Decrease by Rs.(102,136.4) million Depreciation in foreign currencies by 10% Decrease by Rs.(35,265.7) million Increase by Rs.102,136.4 million The table below outlines the effect change in foreign currencies exposure for the year ended March 31, 2021: Change in assumption Impact on Company’s net income before tax for Impact on Company’s net income before tax for financial liabilities Appreciation in foreign currencies by 10% Increase by Rs.36,873.3 million Decrease by Rs.(113,312.3) million Depreciation in foreign currencies by 10% Decrease by Rs.(36,873.3) million Increase by Rs.113,312.3 million |
Summary of Contractual Maturities of Financial Liabilities | The table below provides undiscounted contractual maturities of financial liabilities, including estimated interest payments as at March 31, 2023: Carrying amount Due in 1 st Due in 2 nd Due in 3 rd th Due after 5 th Total contractual cash flows (In millions) Financial liabilities Accounts payable and acceptances Rs. 832,349.8 Rs. 832,349.8 Rs. — Rs. — Rs. — Rs. 832,349.8 US$ 10,129.6 Borrowings and interest thereon 1,273,261.5 386,411.5 413,893.6 481,256.3 108,782.4 1,390,343.8 16,920.3 Lease liabilities 84,529.7 14,801.2 11,418.4 32,606.9 79,324.3 138,150.8 1,681.3 Other financial liabilities 67,486.7 41,780.6 28,629.5 19,953.9 — 90,364.0 1,099.7 Derivative liabilities 97,663.3 47,259.4 4,489.2 29,016.8 396.8 81,162.2 987.7 Total Rs. 2,355,291.0 Rs. 1,322,602.5 Rs. 458,430.7 Rs. 562,833.9 Rs. 188,503.5 Rs. 2,532,370.6 US$ 30,818.6 Contractual maturities of borrowings includes cash flows relating to collateralized debt obligations. This represents the amount received against the transfer of finance receivables in securitization transactions and/or direct assignments, which do not qualify for derecognition. The liability of the Company in such cases is limited to the extent of credit enhancements provided. The contractual maturities of such collateralized debt obligations are as follows: Carrying Due in st Due in nd Due in rd th Total contractual cash flows (In millions) Collateralized debt obligations Rs. 748.7 Rs. 769.2 Rs. — Rs. — Rs. 769.2 US$ 9.4 |
Summary of Fair Value of Derivative Financial Instruments | The fair value of derivative financial instruments is as follows: As at March 31, 2023 2023 2022 (In millions) Foreign currency forward exchange contracts and options US$ (762.7 ) Rs. (62,669.0 ) Rs. (53,493.3 ) Commodity Derivatives (59.8 ) (4,916.2 ) 12,098.5 Others including interest rate and currency swaps 101.7 8,356.9 2,166.0 Total US$ (720.8 ) Rs. (59,228.3 ) Rs. (39,228.8 ) |
Summary of Changes in Foreign Currency Forward Exchange Contracts and Options Due to 10% Appreciation/Depreciation of Foreign Currency | Following table provides sensitivity analysis in relation to derivative contracts: As at March 31, 2023 2023 2022 2021 (In millions) 10% depreciation of foreign currency: Gain/(loss) in hedging reserve US$ 1,659.9 Rs. 136,394.1 Rs. 95,506.1 Rs. 47,227.0 Gain/(loss) in statement of Profit and loss US$ (491.9 ) Rs. (40,422.9 ) Rs. (33,529.9 ) Rs. (22,584.4 ) 10% Appreciation of foreign currency: Gain/(loss) in hedging reserve US$ (1,626.0 ) Rs. (133,606.9 ) Rs. (111,364.2 ) Rs. (54,535.1 ) Gain/(loss) in statement of Profit and loss US$ 694.0 Rs. 57,029.6 Rs. 48,574.9 Rs. 29,797.7 |
Disclosure on Detailed Financials Instruments Designated as Hedging Instrument in Cashflow Hedge | Disclosure on Financials instruments designated as hedging instrument in cashflow hedge The details of cash flow hedges entered by the Company to hedge interest rate risk arising on floating rate borrowings and by one of the Company’s subsidiaries to hedge the currency fluctuation of its functional currency (GBP) against foreign currencies to hedge future cash flows arising from revenue and cost of materials is as follows: Outstanding contracts Average strike rate Nominal amounts Carrying value (in GBP) (in millions) (in millions) As at March 31, As at March 31, As at March 31, 2023 2022 2023 2023 2022 2023 2023 2022 Foreign currency forwards Cash flow hedges - USD Sell - USD/ Buy - GBP <1 year 0.7530 0.7604 US$ 3,703.3 Rs. 280,678.9 Rs. 286,513.9 US$ (252.9 ) Rs. (19,166.7 ) Rs. 470.3 Between 1-5 0.7580 0.7361 5,631.5 426,822.8 371,259.9 (315.4 ) (23,907.9 ) (7,696.4 ) Cash flow hedges - Chinese Yuan Sell - Chinese Yuan / Buy - GBP <1 year 0.1140 0.1094 3,586.1 271,799.2 280,236.8 (153.0 ) (11,596.7 ) (23,349.9 ) Between 1-5 0.1160 0.1123 6,563.1 497,434.4 350,103.6 (247.6 ) (18,763.6 ) (12,487.6 ) Cash flow hedges -Euro Buy - Euro / Sell - GBP <1 year 0.8920 0.8875 (2,660.3 ) (201,632.8 ) 287,560.3 26.9 2,035.9 (11,058.9 ) Between 1-5 0.9130 0.8860 (55.1 ) (4,175.6 ) 124,646.1 0.6 48.8 (467.3 ) Cash flow hedges - Other <1 year — — 979.2 74,219.0 93,992.9 (7.6 ) (576.3 ) (1,679.8 ) Between 1-5 — — 1,137.4 86,209.0 86,513.3 (2.2 ) (168.7 ) (2,776.9 ) Cash flow hedges of foreign exchange risk on recognized debt Cross currency interest rate swaps Buy - USD / Sell - GBP Between 1-5 1.3000 1.3000 894.6 67,800.6 7,578.9 103.0 7,806.8 1,548.8 >5 years — 0.7592 US$ — — 37,743.2 US$ — Rs. — Rs. 91.3 Buy - Euro / Sell - GBP >5 years 0.8912 0.8912 597.6 45,294.4 44,304.6 (67.1 ) (5,082.2 ) (3,829.7 ) Buy - USD / Sell - INR <1 year 73.81 71.16 14.6 1,107.2 10,671.5 1.8 134.0 663.8 Between 1-5 71.86 71.86 94.8 7,186.0 8,293.2 10.8 821.2 14.7 >5 years 83.52 83.52 US$ 582.8 44,173.1 40,736.5 US$ 42.1 3,188.4 4,325.0 Total foreign currency derivative instruments US$ 21,069.6 Rs. 1,596,916.2 Rs. 2,030,154.7 US$ (860.6 ) Rs. (65,227.0 ) Rs. (56,232.6 ) Debt instruments denominated in foreign currency USD Between 1-5 0.63 — 1,430.9 108,455.0 — (1,299.5 ) (98,493.8 ) — Total debt instruments denominated in foreign currency US$ 1,430.9 108,455.0 — US$ (1,299.5 ) (98,493.8 ) — Average strike rate Nominal amounts Carrying value (USD in million) (in millions) as at March 31 as at March 31 as at March 31 2023 2022 2023 2022 2023 2023 2022 Interest rate swaps linked to LIBOR >5 years 2.86 % 2.86 % US$ 237.5 US$ 237.5 US$ 8.0 Rs. 609.7 Rs. (203.1 ) Total derivatives designated in hedge relationship US$ (852.6 ) Rs. (64,617.3 ) Rs. (56,435.7 ) Non derivatives designated in hedge relationship Average strike rate Nominal amounts Carrying value (GBP in millions) (in millions) as at March 31 as at March 31 as at March 31 2023 2022 2023 2022 2023 2023 2022 Net Investment Hedge - GBP — — 1,074.0 923.7 US$ — Rs. — Rs. — |
Foreign currency exchange rate risk [member] | |
Statement [line items] | |
Summary of Foreign Currency Exposure | The following table sets forth information relating to foreign currency exposure (other than risk arising from derivatives disclosed at clause (iv) below) as at March 31, 2023: U.S. dollar Euro Chinese GBP Canadian Others* Total (In millions) Financial assets Rs. 164,872.4 Rs. 127,209.7 Rs. 53,406.1 Rs. 14,954.7 Rs. 9,182.1 Rs. 37,095.5 Rs. 406,720.5 Financial liabilities Rs. 473,803.5 Rs. 485,246.5 Rs. 119,828.5 Rs. 48,359.9 Rs. 3,530.1 Rs. 34,714.0 Rs. 1,165,482.5 * Others mainly include currencies such as the Russian rouble, Singapore dollars, Swiss franc, Australian dollars, South African rand, Thai baht, Japanese Yen and Korean won. The following table set forth information relating to foreign currency exposure (other than risk arising from derivatives disclosed at clause (iv) below) as at March 31, 2022: U.S. dollar Euro Chinese GBP Canadian Others* Total (In millions) Financial assets Rs. 168,327.4 Rs. 103,507.9 Rs. 39,109.4 Rs. 1,442.6 Rs. 11,908.4 Rs. 28,361.2 Rs. 352,656.9 Financial liabilities Rs. 452,541.9 Rs. 421,914.3 Rs. 114,459.1 Rs. 5,198.1 Rs. 2,714.2 Rs. 24,536.5 Rs. 1,021,364.1 The following table set forth information relating to foreign currency exposure (other than risk arising from derivatives disclosed at clause (iv) below) as at March 31, 2021: U.S. dollar Euro Chinese GBP Japanese Yen Others* Total (In millions) Financial assets Rs. 181,174.9 Rs. 113,988.0 Rs. 34,468.8 Rs. 7,817.4 Rs. 4,761.5 Rs. 26,522.2 Rs. 368,732.8 Financial liabilities Rs. 480,423.3 Rs. 433,444.1 Rs. 120,331.7 Rs. 56,714.0 Rs. 13,253.5 Rs. 28,956.2 Rs. 1,133,122.8 * Others mainly include currencies such as the Russian rouble, Singapore dollars, Swiss franc, Australian dollars, South African rand, Thai baht, Japanese Yen and Korean won. |
Not measured at fair value on recurring basis [Member] | |
Statement [line items] | |
Summary of Fair Value of Financial Assets and Liabilities | The following table provides an analysis of fair value of financial instruments that are not measured at fair value on recurring basis, grouped into Level 1 to Level 3 categories As at March 31, 2023 Level 1 Level 2 Level 3 Total (In millions) Financial assets not measured at fair value Finance receivables Rs. — Rs. — Rs. 139,114.4 Rs. 139,114.4 Other investments 158,378.2 — — 158,378.2 Total Rs. 158,378.2 Rs. — Rs. 139,114.4 Rs. 297,492.6 US$ 1,927.4 US$ — US$ 1,693.0 US$ 3,620.4 Financial liabilities not measured at fair value Short-term debt (excluding current portion of long-term debt) Rs. — Rs. 140,668.2 Rs. — Rs. 140,668.2 Long-term debt (including current portion of long-term debt) 424,038.7 665,839.0 — 1,089,877.7 Total Rs. 424,038.7 Rs. 806,507.3 Rs. — Rs. 1,230,546.0 US$ 5,160.5 US$ 9,815.2 US$ — US$ 14,975.7 As at March 31, 2022 Level 1 Level 2 Level 3 Total (In millions) Financial assets not measured at fair value Finance receivables Rs. — Rs. — Rs. 194,052.0 Rs. 194,052.0 Other investments 174,477.1 — — 174,477.1 Total Rs. 174,477.1 Rs. — Rs. 194,052.0 Rs. 368,529.1 Financial liabilities not measured at fair value Short-term debt (excluding current portion of long-term debt) Rs. — Rs. 173,783.8 Rs. — Rs. 173,783.8 Long-term debt (including current portion of long-term debt) 571,882.4 651,858.4 — 1,223,740.8 Total Rs. 571,882.4 Rs. 825,642.2 Rs. — Rs. 1,397,524.6 |
Measured at fair value [Member] | |
Statement [line items] | |
Summary of Fair Value of Financial Assets and Liabilities | The main items in this category are unquoted financial assets, measured at fair value. As at March 31, 2023 Level 1 Level 2 Level 3 Total (In millions) Financial assets measured at fair value Investments Rs. 47,341.7 Rs. — Rs. 11,315.0 Rs. 58,656.7 Derivative assets — 38,435.0 — 38,435.0 Finance receivables — — 170,238.4 170,238.4 Total Rs. 47,341.7 Rs. 38,435.0 Rs. 181,553.4 Rs. 267,330.1 US$ 576.1 US$ 467.7 US$ 2,209.5 US$ 3,253.3 Financial liabilities measured at fair value Derivative liabilities Rs. — Rs. 97,663.3 Rs. — Rs. 97,663.3 Financial Liabilities — — 25,000.0 25,000.0 Total Rs. — Rs. 97,663.3 Rs. 25,000.0 Rs. 122,663.3 US$ — US$ 1,188.6 US$ 304.2 US$ 1,492.8 As at March 31, 2022 Level 1 Level 2 Level 3 Total (In millions) Financial assets measured at fair value Investments Rs. 65,555.3 Rs. — Rs. 10,269.0 Rs. 75,824.3 Derivative assets — 39,360.8 — 39,360.8 Finance receivables — — 140,902.9 140,902.9 Total Rs. 65,555.3 Rs. 39,360.8 Rs. 151,171.9 Rs. 256,088.0 Financial liabilities measured at fair value Derivative liabilities Rs. — Rs. 78,589.6 Rs. — Rs. 78,589.6 Financial Liabilities — — 12,500.0 12,500.0 Total Rs. — Rs. 78,589.6 Rs. 12,500.0 Rs. 91,089.6 |
Trade receivables and finance receivables [Member] | |
Statement [line items] | |
Summary of Aging of Trade and Finance Receivables | The ageing of trade receivables and finance receivables as of balance sheet date is given below. The age analysis have been considered from the due date. As at March 31, 2023 2023 2023 2023 2023 2023 2022 2022 2022 Trade receivables Gross Allowance Net Gross Allowance Net Gross Allowance Net (In millions) Period (in months) Not due US$ 1,739.5 US$ (14.7 ) US$ 1,724.8 Rs. 142,943.5 Rs. (1,210.7 ) Rs. 141,732.8 Rs. 102,955.3 Rs. (509.5 ) Rs. 102,445.8 Overdue up to 3 months 53.7 (0.1 ) 53.6 4,410.0 (9.0 ) 4,401.0 13,500.4 (347.4 ) 13,153.0 Overdue 3-6 39.0 (2.6 ) 36.4 3,204.5 (213.6 ) 2,990.9 2,067.2 (161.9 ) 1,905.3 Overdue more than 6 months 183.0 (82.5 ) 100.5 15,034.2 (6,779.2 ) 8,255.0 * 14,414.0 (7,496.9 ) 6,917.1 * Total US$ 2,015.2 US$ (99.9 ) US$ 1,915.3 Rs. 165,592.2 Rs. (8,212.5 ) Rs. 157,379.7 Rs. 132,936.9 Rs. (8,515.7 ) Rs. 124,421.2 Trade receivables overdue more The Company makes allowances As at March 31, 2023 2023 2023 2023 2023 2023 2022 2022 2022 Finance receivables # Gross Allowance Net Gross Allowance Net Gross Allowance Net (In millions) Period (in months) Not due* US$ 3,681.0 US$ (136.0 ) US$ 3,545.0 Rs. 302,461.3 Rs. (11,171.6 ) Rs. 291,289.7 Rs. 331,186.7 Rs. (12,223.3 ) Rs. 318,963.4 Overdue up to 3 months 59.8 (2.3 ) 57.5 4,910.2 (187.8 ) 4,722.4 5,463.0 (160.8 ) 5,302.2 Overdue more than 3 months 243.9 (93.9 ) 150.0 20,042.9 (7,717.7 ) 12,325.2 13,736.7 (5,690.2 ) 8,046.5 Total US$ 3,984.7 US$ (232.2 ) US$ 3,752.5 Rs. 327,414.4 Rs. (19,077.1 ) Rs. 308,337.3 Rs. 350,386.4 Rs. (18,074.3 ) Rs. 332,312.1 # Finance receivables originated in India. * Allowance in the “Not due” category includes allowance against installments pertaining to impaired finance receivables which have not yet fallen due. |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Segment Reporting | For the year ended/As at March 31, 2023 Automotive and related activity Tata and other brand vehicles * Vehicle Jaguar Land Intra-segment Total Others Inter-segment Total Commercial Passenger Unallocable Total (In millions) Revenues: External revenue Rs. 690,696.0 Rs. 457,342.5 Rs. 1,759.1 Rs. 1,149,797.6 Rs. 43,184.3 Rs. 2,216,002.4 Rs. — Rs. 3,408,984.3 Rs. 33,221.0 Rs. — Rs. 3,442,205.3 US$ 41,891.3 Inter-segment/intra-segment revenue Rs. 14,914.4 Rs. 20,006.9 Rs. 879.9 Rs. 35,801.2 Rs. 1,560.5 Rs. 131.9 Rs. (37,493.6 ) Rs. — Rs. 14,793.9 Rs. (14,793.9 ) Rs. — US$ — Total revenues Rs. 705,610.4 Rs. 477,349.4 Rs. 2,639.0 Rs. 1,185,598.8 Rs. 44,744.8 Rs. 2,216,134.3 Rs. (37,493.6 ) Rs. 3,408,984.3 Rs. 48,014.9 Rs. (14,793.9 ) Rs. 3,442,205.3 US$ 41,891.3 Earnings before other income, interest and tax (a) Rs. 31,387.3 3,610.1 (2,792.3 ) 32,205.1 14,504.2 39,741.6 903.5 87,354.4 7,849.9 183.2 95,387.5 1,161.2 Finance costs pertaining to borrowings sourced by vehicle financing segment — — — — (28,845.3 ) — — (28,845.3 ) — — (28,845.3 ) (351.0 ) Segment results Rs. 31,387.3 3,610.1 (2,792.3 ) 32,205.1 (14,341.1 ) 39,741.6 903.5 58,509.1 7,849.9 183.2 66,542.2 810.2 Share of profit/(loss) of equity accounted investees (net) — 1,851.3 1,851.3 — 1,443.4 — 3,294.7 69.1 — 3,363.8 40.9 Reconciliation to net income/(loss): — — Assets written off/loss on sale of assets and others (net) (5,258.9 ) (64.0 ) Other income/(loss) (net) 30,548.5 371.8 Foreign exchange gain/(loss) (net) 1,040.8 12.7 Interest income 12,511.8 152.3 Interest expense (net) (excluding pertaining to borrowings sourced by vehicle financing segment) (73,547.0 ) (895.5 ) Income tax expense (7,040.6 ) (85.7 ) Net Income/(loss) Rs. 28,160.6 US$ 342.7 Depreciation and amortization Rs. 15,653.8 25,120.7 1,388.0 42,162.5 574.6 Rs. 197,949.9 Rs. — Rs. 240,687.0 Rs. 972.7 Rs. (774.0 ) Rs. 240,885.7 US$ 2,931.6 Capital expenditure Rs. 21,810.6 33,468.4 61.5 55,340.5 363.1 Rs. 121,607.1 Rs. — Rs. 177,310.7 Rs. 630.8 Rs. (622.7 ) Rs. 177,318.8 US$ 2,158.0 Segment assets Rs. 271,652.2 Rs. 180,564.1 Rs. 12,758.3 Rs. 464,974.6 Rs. 356,509.6 Rs. 1,776,973.6 Rs. (23,909.4 ) Rs. 2,574,548.4 Rs. 40,514.4 Rs. (12,267.6 ) Rs. 2,602,795.2 US$ 31,675.7 Assets classified as held for sale 46.6 46.6 1,920.1 6,296.3 — 8,263.0 — 8,263.0 100.6 Investment in equity accounted investees — — 7,160.1 7,160.1 33,494.2 — 40,654.2 6,102.4 46,756.6 569.0 Reconciliation to total assets: Investments 217,034.9 2,641.3 Current and non-current 18,156.3 221.0 Deferred income taxes 51,846.7 630.8 Other unallocated financial assets 1 332,539.2 4,047.2 Total assets Rs. 3,277,392.0 US$ 39,885.6 Segment liabilities Rs. 223,696.4 Rs. 126,188.9 Rs. 12,522.7 Rs. 362,408.0 Rs. 12,413.7 Rs. 1,028,633.5 Rs. (22,573.7 ) Rs. 1,380,881.5 Rs. 22,521.2 Rs. (3,124.6 ) Rs. 1,400,278.1 US$ 17,041.2 Reconciliation to total liabilities: Borrowings 1,256,496.6 15,291.2 Current income tax liabilities 12,542.0 153.0 Deferred income taxes 14,069.5 171.2 Other unallocated financial liabilities 2 114,650.3 1,395.5 Total liabilities Rs. 2,798,036.5 US$ 34,051.9 * Tata and other brand vehicles include Tata Daewoo and Fiat brand vehicles. 1. Includes interest-bearing deposits and accrued interest income. 2. Includes interest accrued and other interest bearing liabilities. a. Earnings before other income, interest and tax is Earnings before share of profit/(loss) of equity accounted investees (net), assets written off/loss on sale of assets and others (net), other income/(loss) (net) foreign exchange gains/(loss) (net), interest income, interest expense (net) and income tax expense. For the year ended/As at March 31, 2022 Tata and other brand vehicles * Vehicle Jaguar Land Intra- Total Others Inter-segment Total Commercial Passenger Unallocable Total (In millions) Revenues: External revenue Rs. 521,107.8 Rs. 309,171.8 Rs. 2,258.6 Rs. 832,538.2 Rs. 42,113.4 Rs. 1,864,426.3 Rs. — Rs. 2,739,077.9 Rs. 26,689.0 Rs. — Rs. 2,765,766.9 Inter-segment/intra-segment revenue Rs. (2,090.5 Rs. 5,280.0 Rs. — Rs. 3,189.5 Rs. 2,090.5 Rs. — Rs. (5,280.0 Rs. — Rs. 11,351.8 Rs. (11,351.8 Rs. — Total revenues Rs. 519,017.3 Rs. 314,451.8 Rs. 2,258.6 Rs. 835,727.7 Rs. 44,203.9 Rs. 1,864,426.3 Rs. (5,280.0 ) Rs. 2,739,077.9 Rs. 38,040.8 Rs. (11,351.8 ) Rs. 2,765,766.9 Earnings before other income, interest and tax (a) Rs. (3,560.7 (13,174.4 ) (1,374.6 ) (18,109.7 ) 23,163.2 (41,623.5 ) — (36,570.0 ) 6,146.4 537.5 (29,886.1 ) Finance costs pertaining to borrowings sourced by vehicle financing segment — — — — (27,189.3 ) — — (27,189.3 ) — — (27,189.3 ) Segment results Rs. (3,560.7 ) (13,174.4 ) (1,374.6 ) (18,109.7 ) (4,026.1 ) (41,623.5 ) — (63,759.3 ) 6,146.4 537.5 (57,075.4 ) Share of profit/(loss) of equity accounted investees (net) — — 1,224.4 1,224.4 — (2,055.7 ) — (831.3 ) 90.7 — (740.6 ) Reconciliation to net income/(loss): — Assets written off/loss on sale of assets and others (net) 555.4 Other income/(loss) (net) 47,720.8 Foreign exchange gain/(loss) (net) (805.8 ) Interest income 6,252.1 Interest expense (net) (excluding pertaining to borrowings sourced by vehicle financing segment) (66,073.8 ) Income tax expense (42,204.9 ) Net Income/(loss) Rs. (112,372.2 ) Depreciation and amortization Rs. 16,863.5 22,306.9 1,499.3 40,669.7 597.0 Rs. 198,037.6 Rs. — Rs. 239,304.3 Rs. 12.8 Rs. — Rs. 239,317.1 Capital expenditure Rs. 19,945.9 6,239.5 10.0 26,195.4 204.3 Rs. 118,549.4 Rs. — Rs. 144,949.1 Rs. 446.7 Rs. — Rs. 145,395.8 Segment assets Rs. 272,906.4 Rs. 142,362.9 Rs. 6,289.8 Rs. 421,559.1 Rs. 385,446.7 Rs. 1,689,542.5 Rs. — Rs. 2,496,548.3 Rs. 34,650.0 Rs. (11,294.3 ) Rs. 2,519,904.0 Assets classified as held for sale 334.5 64.8 399.3 4,499.0 58.7 — 4,957.0 — 4,957.0 Investment in equity accounted investees — — 5,542.5 5,542.5 31,929.9 — 37,472.4 6,021.5 43,493.9 Reconciliation to total assets: Investments 250,301.4 Current and non-current 14,566.3 Deferred income taxes 38,708.7 Other unallocated financial assets 1 351,671.4 Total assets Rs. 3,223,602.7 Segment liabilities Rs. 210,850.4 Rs. 109,216.0 Rs. 2,095.5 Rs. 322,161.9 Rs. 9,662.0 Rs. 913,816.1 Rs. (886.0 ) Rs. 1,244,754.0 Rs. 20,201.5 Rs. (2,697.8 ) Rs. 1,262,257.7 Reconciliation to total liabilities: Borrowings 1,396,662.2 Current income tax liabilities 12,538.5 Deferred income taxes 15,584.4 Other unallocated financial liabilities 2 95,995.3 Total liabilities Rs. 2,783,038.1 * Tata and other brand vehicles include Tata Daewoo and Fiat brand vehicles. 1. Includes interest-bearing deposits and accrued interest income. 2. Includes interest accrued and other interest bearing liabilities. a. Earnings before other income, interest and tax is Earnings before share of profit/(loss) of equity accounted investees (net), assets written off/loss on sale of assets and others (net), other income/(loss) (net) foreign exchange gains/(loss) (net), interest income, interest expense (net) and income tax expense. For the year ended/ As at March 31, 2021 Automotive and related activity Tata and other brand vehicles * Commercial Passenger Unallocable Total Vehicle Jaguar Land Intra- eliminations Total Others Inter- Total (In millions) Revenues: External revenue Rs. 331,779.3 Rs. 165,188.4 Rs. 156.3 Rs. 497,123.9 Rs. 41,801.9 Rs. 1,926,616.6 Rs. — Rs. 2,465,542.5 Rs. 16,088.9 Rs. — Rs. 2,481,631.4 Inter-segment/intra-segment revenue Rs. (2,124.0 Rs. — Rs. — Rs. (2,124.0 Rs. 2,124.0 Rs. — Rs. — Rs. — Rs. 9,987.3 Rs. (9,987.3 Rs. — Total revenues Rs. 329,655.3 Rs. 165,188.4 Rs. 156.3 Rs. 494,999.9 Rs. 43,926.0 Rs. 1,926,616.6 Rs. — Rs. 2,465,542.5 Rs. 26,076.2 Rs. (9,987.3 ) Rs. 2,481,631.4 Earnings before other income, interest and tax (a) Rs. (6,058.8 (11,019.4 ) (4,042.2 ) (21,120.4 ) 26,961.7 (104,041.0 ) — (98,199.7 ) 2,943.4 667.0 (94,589.3 ) Finance costs pertaining to borrowings sourced by vehicle financing segment — — — — (28,514.5 ) — — (28,514.5 ) — — (28,514.5 ) Segment results (6,058.8 ) (11,019.4 ) (4,042.2 ) (21,120.4 ) (1,552.8 ) (104,041.0 ) — (126,714.2 ) 2,943.4 667.0 (123,103.8 ) Share of profit/(loss) of equity accounted investees (net) — — (406.8 ) (406.8 ) — (3,633.2 ) — (4,040.0 ) 250.4 — (3,789.6 ) Reconciliation to net income/(loss): — Assets written off/loss on sale of assets and others (net) (3,094.6 ) Other income/(loss) (net) 42,368.1 Foreign exchange gain/(loss) (net) 18,293.3 Interest income 4,925.3 Interest expense (net) (excluding pertaining to borrowings sourced by vehicle financing segment) (52,326.0 ) Income tax (expense)/credit (25,410.7 ) Net Income/(loss) Rs. (142,138.0 ) Depreciation and amortization Rs. 16,462.1 19,975.5 1,574.9 38,012.5 613.6 Rs. 191,306.9 Rs. — Rs. 229,933.0 Rs. 966.2 Rs. (1,261.1 Rs. 229,638.1 Capital expenditure Rs. 11,805.6 10,018.4 (792.6 ) 21,031.4 284.4 Rs. 157,274.5 Rs. — Rs. 178,590.3 Rs. (391.6 Rs. — Rs. 178,198.7 Segment assets Rs. 239,776.8 Rs. 145,351.1 Rs. 19,413.9 Rs. 404,541.8 Rs. 395,655.5 Rs. 1,755,109.8 Rs. — Rs. 2,555,307.1 Rs. 24,775.8 Rs. (12,698.9 ) Rs. 2,567,384.0 Assets classified as held for sale 2,208.0 2,208.0 — 2,208.0 — 2,208.0 Investment in equity accounted investees — — 4,271.4 4,271.4 31,825.3 — 36,096.7 5,911.2 42,007.9 Reconciliation to total assets: Investments 204,194.8 Current and non-current 18,686.1 Deferred income taxes 45,203.5 Other unallocated financial assets 1 463,110.0 Total assets Rs. 3,342,794.4 Segment liabilities Rs. 179,652.4 Rs. 60,109.9 Rs. 11,061.6 Rs. 250,823.9 Rs. 8,373.2 Rs. 1,105,896.9 Rs. — Rs. 1,365,094.0 Rs. 15,084.6 Rs. (2,714.7 ) Rs. 1,377,463.9 Reconciliation to total liabilities: Borrowings 1,358,937.1 Current income tax liabilities 10,864.4 Deferred income taxes 15,558.9 Other unallocated financial liabilities 2 60,834.3 Total liabilities Rs. 2,823,658.6 * Tata and other brand vehicles include Tata Daewoo and Fiat brand vehicles. 1. Includes interest-bearing deposits and accrued interest income. 2. Includes interest accrued and other interest bearing liabilities. a. Earnings before other income, interest and tax is Earnings before share of profit/(loss) of equity accounted investees (net), assets written off/loss on sale of assets and others (net), other income/(loss) (net) foreign exchange gains/(loss) (net), interest income, interest expense (net) an income tax expense. |
Summary of Information Concerning Principal Geographic Areas | Net sales to external customers by geographic area by location of customers: Year ended March 31, 2023 2023 2022 2021 (In millions) India US$ 13,814.6 Rs. 1,135,142.0 Rs. 802,655.6 Rs. 497,802.5 United States of America 6,337.0 520,713.6 453,456.8 467,580.8 United Kingdom 4,587.2 376,927.0 324,296.6 369,256.4 Rest of Europe 5,203.2 427,547.0 332,145.9 349,545.8 China 5,427.5 445,975.2 426,459.3 445,784.4 Rest of the World 6,521.8 535,900.5 426,752.7 351,661.5 Total revenues US$ 41,891.3 Rs. 3,442,205.3 Rs. 2,765,766.9 Rs. 2,481,631.4 Non-current non-current (non-financial) As at March 31, 2023 2023 2022 (In millions) India US$ 3,075.8 Rs. 252,739.3 Rs. 238,235.2 United States of America 100.0 8,215.1 8,503.3 United Kingdom 12,028.4 988,369.9 1,020,818.6 Rest of Europe 1,046.6 85,997.8 94,377.1 China 169.1 13,892.1 13,073.7 Rest of the World 419.9 34,506.2 35,869.6 Total US$ 16,839.8 Rs. 1,383,720.3 Rs. 1,410,877.5 |
Summary of Information About Product Revenues | Information about product revenues: Year ended March 31, 2023 2023 2022 2021 (In millions) Tata and Fiat vehicles (Refer note below) US$ 13,335.4 Rs. 1,095,766.1 Rs. 782,631.3 Rs. 462,990.0 Tata Daewoo commercial vehicles 669.6 55,021.4 53,096.4 32,498.5 Jaguar Land Rover vehicles 26,968.5 2,216,002.4 1,864,426.3 1,926,418.9 Others 404.3 33,220.9 24,494.4 19,243.6 Sub-total 41,377.8 3,400,010.8 2,724,648.4 2,441,151.0 Finance revenues 513.5 42,194.5 41,118.5 40,480.4 Total revenues US$ 41,891.3 Rs. 3,442,205.3 Rs. 2,765,766.9 Rs. 2,481,631.4 |
Summary of Major Customers | Tata and Fiat vehicles includes the following:- Year ended March 31, 2023 2023 2022 2021 (In millions) Commercial Vehicles US$ 7,736.1 Rs. 635,674.7 Rs. 471,200.9 Rs. 331,779.3 Passenger Vehicles 4,719.8 387,822.5 282,541.8 159,468.4 Electric Vehicles 846.1 69,520.0 26,630.0 5,720.0 Total revenues excluding unallocable US$ 13,302.0 Rs. 1,093,017.2 Rs. 780,372.7 Rs. 496,967.6 |
Related-party transactions (Tab
Related-party transactions (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Related-party Transactions and Balances Included in Consolidated Financial Statements | The following table summarizes related-party transactions and balances included in the consolidated financial statements for the year ended/as at March 31, 2023: Associates and its subsidiaries Joint Joint Tata Sons Pvt Ltd, its subsidiaries and joint ventures Total Total (In millions) (A) Transactions Purchase of products Rs.73,536.9 Rs. 5,723.7 Rs. 108,365.1 Rs. 18,317.8 Rs. 205,943.5 US$ 2,506.3 Sale of products 3,256.8 24,476.2 30,278.7 14,864.2 72,875.9 886.9 Services received 220.8 24.4 6.2 24,663.6 24,915.0 303.2 Services rendered 257.2 10,607.4 64.4 2,404.4 13,333.4 162.3 Bills discounted — — — 108,823.7 108,823.7 1,324.4 Purchase of property, plant and equipment 918.5 — — 190.5 1,109.0 13.5 Interest (income)/expense, dividend (income)/paid, (net) 42.3 — (2,112.9 475.8 (1,594.8 (19.4 Finance taken (including loans and equity) 1,430.0 — — — 1,430.0 17.4 Finance taken, paid back (including loans and equity) 1,860.0 — — — 1,860.0 22.6 Repayment towards lease liability — — 310.8 — 310.8 3.8 (B) Balances Amounts receivable in respect of loans and interest thereon — 93.0 — 49.0 142.0 1.7 Amounts payable in respect of loans and interest thereon 480.0 — — 36.7 516.7 6.3 Amount payable in respect of Lease Liability — — 3,028.7 — 3,028.7 36.9 Trade and other receivables 328.5 3,369.8 998.5 3,094.0 7,790.8 94.8 Accounts payable 2,295.7 45.5 7,535.6 4,719.8 14,596.6 177.6 Acceptances — — — 11,561.4 11,561.4 140.7 Provision for amount receivables — 93.0 — — 93.0 1.1 Note: The Company is required, in terms of Regulation 23 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation 2015, to obtain the approval of shareholders for the transaction of sale of products aggregating to Rs.15,460.6 million with Fiat India Automobiles Private Limited, a joint arrangement, which has become a material related party transaction for the year ended March 31, 2023. The Company proposes to take the approval of the shareholders at the forthcoming Annual General Meeting. The following table summarizes related-party transactions and balances included in the consolidated financial statements for the year ended/as at March 31, 2022: Associates Joint Joint Tata Sons Pvt Ltd, its subsidiaries and joint ventures Total (In millions) (A) Transactions Purchase of products Rs. 40,642.2 Rs. 3,988.9 Rs. 55,585.9 Rs. 229.7 Rs. 100,446.7 Sale of products 3,897.9 26,797.3 16,930.0 12,691.0 60,316.2 Services received 109.5 36.7 2.6 18,019.0 18,167.8 Services rendered 125.8 9,861.3 52.3 1,846.3 11,885.7 Bills discounted — — — 79,014.20 79,014.2 Purchase of property, plant and equipment 348.6 — — 97.90 446.5 Sale of property, plant and equipment — — — 2,340.9 2,340.9 Interest (income)/expense, dividend (income)/paid, (net) 58.4 — (45.1 ) 726.6 739.9 Finance taken (including loans and equity) 1,480.0 — — — 1,480.0 Finance taken, paid back (including loans and equity) 1,520.0 — — 12.70 1,532.7 Borrowing towards lease liability — — 542.7 — 542.7 Repayment towards lease liability — — 240.7 — 240.7 (B) Balances Amounts receivable in respect of loans and interest thereon — 93.0 — 44.6 137.6 Amounts payable in respect of loans and interest thereon 910.0 — — 28.8 938.8 Amount payable in respect of Lease Liability — — 2,960.5 — 2,960.5 Trade and other receivables 718.2 2,979.7 838.5 2,658.4 7,194.8 Accounts payable 1,399.5 2.0 1,119.2 2,388.4 4,909.1 Acceptances — — — 15,297.2 15,297.2 Provision for amount receivables — 93.0 — — 93.0 The following table summarizes related-party transactions and balances included in the consolidated financial statements for the year ended/as at March 31, 2021: Associates Joint Joint Tata Sons Total (In millions) (A) Transactions Purchase of products Rs. 19,795.6 Rs. — Rs. 38,686.3 Rs. 277.4 Rs. 58,759.3 Sale of products 1,450.0 27,546.0 11,790.1 9,459.2 50,245.3 Services received 145.7 — 7.4 14,248.9 14,402.0 Services rendered 105.9 10,769.6 44.9 1,700.0 12,620.4 Bills discounted — — — 59,472.30 59,472.3 Purchase of property, plant and equipment 248.2 — — 37.20 285.4 Sale of property, plant and equipment — — — 343.7 343.7 Interest (income)/expense, dividend (income)/paid, (net) 55.0 (0.9 ) 183.7 588.9 826.7 Finance given (including loans and equity) — — — 412.5 412.5 Finance taken (including loans and equity) 2,110.0 — — 26,025.10 28,135.1 Finance taken, paid back (including loans and equity) 1,620.0 — — — 1,620.0 Borrowing towards lease liability — — 1,679.9 — 1,679.9 Repayment towards lease liability — — 141.4 — 141.4 (B) Balances Amounts receivable in respect of loans and interest thereon — 93.9 — 45.9 139.8 Amounts payable in respect of loans and interest thereon 950.0 — — 60.7 1,010.7 Amount payable in respect of Lease Liability — — 2,658.5 — 2,658.5 Trade and other receivables 405.7 4,812.9 — 3,484.6 8,703.2 Accounts payable 653.1 — 1,569.4 2,224.8 4,447.3 Acceptances — — — 9,290.7 9,290.7 Provision for amount receivables — 93.0 — — 93.0 |
Summary of Compensation and Other Transactions with Key Management Personnel | Compensation of key management personnel: Year ended March 31, 2023 2023 2022 2021 (In millions) Short-term benefits US$ 10.0 Rs. 818.7 Rs. 575.9 Rs. 895.4 Post-employment benefits* 0.1 9.9 14.4 133.0 Share based payment US$ 0.7 Rs. 60.2 Rs. 14.2 Rs. 6.8 |
Earnings per share ("EPS") (Tab
Earnings per share ("EPS") (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Text block [abstract] | |
Summary of Earnings Per Share | Net income attributable to shareholders of Tata Motors Limited (In millions) Weighted Earnings For the year ended March 31, 2023: Ordinary Shares Basic net earnings/(loss) per share Rs. 22,031.5 3,321,146,115 Rs. 6.6 US$ 268.1 US$ 0.1 Effect of shares kept in abeyance Rs. — 492,559 Rs. — US$ — US$ — Adjustment for Dilutive Shares related to ESOP/PSP Rs. — 1,282,388 Rs. — US$ — US$ — Diluted earnings/(loss) per share Rs. 22,031.5 3,322,921,062 Rs. 6.6 US$ 268.1 US$ 0.1 ‘A’ Ordinary Shares Basic net earnings/(loss) per share Rs. 3,373.3 508,502,896 Rs. 6.6 US$ 41.1 US$ 0.1 Effect of shares kept in abeyance Rs. — 233,214 Rs. — US$ — US$ — Diluted earnings/(loss) per share Rs. 3,373.3 508,736,110 Rs. 6.6 US$ 41.1 US$ 0.1 For the year ended March 31, 2022: Ordinary Shares Basic net earnings/(loss) per share Rs. (98,599.3 ) 3,320,402,491 Rs. (29.7 ) Effect of shares kept in abeyance Rs. # # Rs. # Diluted earnings/(loss) per share Rs. (98,599.3 ) 3,320,402,491 Rs. (29.7 ) ‘A’ Ordinary Shares Basic net earnings/(loss) per share Rs. (15,100.0 ) 508,502,896 Rs. (29.7 ) Effect of shares kept in abeyance Rs. # # Rs. # Diluted earnings/(loss) per share Rs. (15,100.0 ) 508,502,896 Rs. (29.7 ) For the year ended March 31, 2021: Ordinary Shares Basic net earnings/(loss) per share Rs. (122,748.1 ) 3,128,268,742 Rs. (39.2 ) Effect of shares kept in abeyance Rs. # # Rs. # Diluted earnings/(loss) per share Rs. (122,748.1 ) 3,128,268,742 Rs. (39.2 ) ‘A’ Ordinary Shares Basic net earnings/(loss) per share Rs. (19,952.8 ) 508,502,896 Rs. (39.2 ) Effect of shares kept in abeyance Rs. # # Rs. # Diluted earnings/(loss) per share Rs. (19,952.8 ) 508,502,896 Rs. (39.2 ) |
Subsidiaries (Tables)
Subsidiaries (Tables) | 12 Months Ended |
Mar. 31, 2023 | |
Investments accounted for using equity method [abstract] | |
Disclosure of Detailed Information of Percentage of Control in Subsidiaries | Sr. No. Name of the Subsidiary Company Country of incorporation % of Equity Shareholding (A) DIRECT SUBSIDIARIES 1 TML Business Services Limited India 100.00 2 Tata Motors Insurance Broking and Advisory Services Limited India 100.00 3 TMF Holdings Limited India 100.00 4 TML Holdings Pte. Limited Singapore 100.00 5 Tata Hispano Motors Carrocera S.A. Spain 100.00 6 Tata Hispano Motors Carrocerries Maghreb SA Morocco 100.00 7 Tata Precision Industries Pte. Limited Singapore 78.39 8 Tata Technologies Limited India 76.69 9 Tata Motors Body Solutions Limited (Formerly known as Tata Marcopolo Motors Limited) India 100.00 10 Brabo Robotics and Automation Limited India 100.00 11 Jaguar Land Rover Technology and Business Services India Private Limited (Formerly known as JT Special Vehicles Pvt. Limited) India 100.00 12 TML CV Mobility Solutions Limited India 100.00 13 Tata Passenger Electric Mobility Limited. India 100.00 14 Tata Motors Passenger Vehicles Limited India 100.00 15 TML Smart City Mobility Solutions Limited (Incorporated on May 25, 2022) India 100.00 (B) INDIRECT SUBSIDIARIES (ii) Subsidiaries of Tata Passenger Electric Mobility Limited. 16 Trilix S.r.l. Italy 100.00 17 Tata Motors European Technical Centre PLC UK 100.00 (iii) Subsidiaries of TML Holdings Pte. Ltd. 18 Tata Daewoo Commercial Vehicle Company Limited South Korea 100.00 19 Tata Daewoo Commercial Vehicle Sales and Distribution Company Limited South Korea 100.00 20 Tata Motors (Thailand) Limited Thailand 97.21 21 Tata Motors (SA) (Proprietary) Limited South Africa 60.00 22 PT Tata Motors Indonesia Indonesia 100.00 23 PT Tata Motors Distribusi Indonesia Indonesia 100.00 24 Jaguar Land Rover Automotive Plc UK 100.00 (iv) Subsidiaries of Jaguar Land Rover Automotive Plc 25 Jaguar Land Rover Holdings Limited UK 100.0 (v) Subsidiaries of Jaguar Land Rover Holdings Limited 26 Jaguar Land Rover Limited UK 100.0 27 Jaguar Land Rover Austria GmbH Austria 100.00 28 Jaguar Land Rover Japan Limited Japan 100.00 29 JLR Nominee Company Limited UK 100.00 30 Jaguar Land Rover Deutschland GmbH Germany 100.00 31 Jaguar Land Rover Classic Deutschland GmbH Germany 100.00 32 Jaguar Land Rover North America LLC USA 100.00 33 Jaguar Land Rover Nederland BV Netherlands 100.00 34 Jaguar Land Rover Portugal - Veículos e Peças, Lda. Portugal 100.00 35 Jaguar Land Rover Australia Pty Limited Australia 100.00 36 Jaguar Land Rover Italia Spa Italy 100.00 37 Jaguar Land Rover Korea Company Limited South Korea 100.00 38 Jaguar Land Rover (China) Investment Co. Limited China 100.00 Sr. No. Name of the Subsidiary Company Country of incorporation % of Equity Shareholding 39 Jaguar Land Rover Canada ULC Canada 100.00 40 Jaguar Land Rover France, SAS France 100.00 41 Jaguar Land Rover (South Africa) (Pty) Limited South Africa 100.00 42 Jaguar e Land Rover Brasil Indústria e Comércio de Veículos LTDA Brazil 100.00 43 Limited Liability Company “Jaguar Land Rover” (Russia) Russia 100.00 44 Jaguar Land Rover (South Africa) Holdings Limited UK 100.00 45 Jaguar Land Rover India Limited India 100.00 46 Jaguar Land Rover Espana SL Spain 100.00 47 Jaguar Land Rover Belux NV Belgium 100.00 48 Jaguar Cars South Africa (Pty) Limited South Africa 100.00 49 Jaguar Cars Limited UK 100.00 50 Land Rover Exports Limited UK 100.00 51 Land Rover Ireland Limited Ireland 100.00 52 The Daimler Motor Company Limited UK 100.00 53 Daimler Transport Vehicles Limited UK 100.00 5 4 S.S. Cars Limited UK 100.00 55 The Lanchester Motor Company Limited UK 100.00 56 Shanghai Jaguar Land Rover Automotive Services Company Limited China 100.00 57 Jaguar Land Rover Pension Trustees Limited UK 100.00 58 Jaguar Land Rover Slovakia s.r.o Slovakia 100.00 59 Jaguar Land Rover Singapore Pte. Ltd. Singapore 100.00 60 Jaguar Racing Limited UK 100.00 61 InMotion Ventures Limited UK 100.00 62 In-Car Ventures Limited UK 100.00 63 InMotion Ventures 2 Limited UK 100.00 64 InMotion Ventures 3 Limited UK 100.00 65 Jaguar Land Rover Colombia S.A.S Columbia 100.00 66 Jaguar Land Rover Ireland (Services) Limited Ireland 100.00 67 Jaguar Land Rover Taiwan Company Limited Taiwan 100.00 68 Jaguar Land Rover Servicios México, S.A. de C.V. Mexico 100.00 69 Jaguar Land Rover México, S.A.P.I. de C.V. Mexico 100.00 70 Jaguar Land Rover Hungary KFT Budapest 100.00 71 Jaguar Land Rover Classic USA LLC USA 100.00 72 Jaguar Land Rover Ventures Limited UK 100.00 73 Bowler Motors Limited UK 100.00 74 Jaguar Land Rover (Ningbo) Trading Co. Limited China 100.00 (vi) Subsidiaries of Tata Technologies Limited 75 Tata Technologies Pte Limited Singapore 76.69 76 Tata Technologies (Thailand) Limited Thailand 76.69 77 Tata Manufacturing Technologies (Shanghai) Limited China 76.69 78 INCAT International Plc. UK 76.69 79 Tata Technologies Inc. (Formerly known as INCAT GmbH) Germany 76.69 8 0 Tata Technologies Europe Limited UK 76.69 81 Tata Technologies Nordics AB UK 76.69 82 Tata Technologies Inc. USA 76.74 83 Tata Technologies de Mexico, S.A. de C.V. Mexico 76.74 84 Cambric Limited USA 76.74 85 Tata Technologies SRL Romania Romania 76.74 86 Tata Technologies Limited Employees Stock Option Trust India 76.69 87 INCAT International Limited ESOP 2000 UK 76.69 (vii) Subsidiaries of TMF Holdings Ltd. 88 Tata Motors Finance Solutions Limited India 100.00 89 Tata Motors Finance Limited India 100.00 (vii) Subsidiaries of TML Smart City Mobility Solutions Limited. 90 TML Smart City Mobility Solutions (J&K) Private Limited (Incorporated with effect from October 13, 2022) India 100.00 |
Background and Operations - Add
Background and Operations - Additional Information (Detail) - Tata Sons Private Limited [Member] | 12 Months Ended |
Mar. 31, 2023 | |
Ordinary shares [Member] | |
Disclosure of background and operations [line items] | |
Percentage of shares of Tata Motors Limited owned by Tata Sons Limited | 46.32% |
'A' Ordinary shares [Member] | |
Disclosure of background and operations [line items] | |
Percentage of shares of Tata Motors Limited owned by Tata Sons Limited | 7.66% |
Significant Accounting Polici_3
Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Bottom of range [member] | |
Disclosure of summary of significant accounting policies [line items] | |
Percentage of sustained decline wholesale volumes | 65% |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) |
Cash and cash equivalents [abstract] | ||||||
Cash balances | $ 0.9 | ₨ 77.2 | ₨ 114.7 | |||
Balances with banks (including deposits with original maturity of up to three months) | 3,879.7 | 318,792.3 | 381,475.4 | |||
Total | $ 3,880.6 | ₨ 318,869.5 | $ 4,643.9 | ₨ 381,590.1 | ₨ 317,000.1 | ₨ 184,678 |
Finance Receivables - Summary o
Finance Receivables - Summary of Finance Receivables (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of financial assets [line items] | |||
Finance receivables | $ 3,752.5 | ₨ 308,337.3 | ₨ 332,312.1 |
Current portion | 2,849.9 | 234,173.1 | 220,953.5 |
Non-current portion | 902.6 | 74,164.2 | 111,358.6 |
Cost [Member] | |||
Disclosure of financial assets [line items] | |||
Finance receivables | 3,984.7 | 327,414.4 | 350,386.4 |
Allowance for credit losses [Member] | |||
Disclosure of financial assets [line items] | |||
Finance receivables | $ 232.2 | ₨ 19,077.1 | ₨ 18,074.3 |
Finance Receivables - Summary_2
Finance Receivables - Summary of Changes in Allowance for Credit Losses in Finance Receivables (Detail) - Finance receivables [member] ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of financial assets [line items] | ||||
Balance at the beginning | $ 220 | ₨ 18,074.3 | ₨ 12,476.8 | ₨ 6,513.7 |
Allowances made during the year | 248.2 | 20,391.5 | 13,075.9 | 9,579.4 |
Written off | (236) | (19,388.7) | (7,478.4) | (3,616.3) |
Balance at the end | $ 232.2 | ₨ 19,077.1 | ₨ 18,074.3 | ₨ 12,476.8 |
Allowance for Trade and Other_3
Allowance for Trade and Other Receivables - Summary of Change in Allowances for Trade and Other Receivables (Detail) - Trade and other receivables [Member] ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of financial assets [line items] | ||||
Balance at the beginning | $ 140.7 | ₨ 11,558.1 | ₨ 12,743.8 | ₨ 13,606.8 |
Allowances made during the year | 9.8 | 806.3 | 1,512.6 | 500.1 |
Written off | (15.7) | (1,290.4) | (2,592.2) | (1,501.6) |
Currency translation | 0.1 | 8.8 | (106.1) | 138.5 |
Balance at the end | $ 134.9 | ₨ 11,082.8 | ₨ 11,558.1 | ₨ 12,743.8 |
Investments - non-current - Su
Investments - non-current - Summary of Other Investments Non current (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of financial assets [line items] | |||
Equity shares | $ 162.4 | ₨ 13,349.6 | ₨ 14,726.2 |
Investments—measured at Fair value through profit and loss | 55.3 | 4,542.3 | 3,056.9 |
Investments—measured at amortized cost | 131 | 10,760 | 5,426.1 |
Total (a+b+c) | 348.7 | 28,651.9 | 23,209.2 |
Quoted equity shares [Member] | |||
Disclosure of financial assets [line items] | |||
Equity shares | 78.2 | 6,433.1 | 8,029.1 |
Unquoted equity shares [Member] | |||
Disclosure of financial assets [line items] | |||
Equity shares | 84.2 | 6,916.5 | 6,697.1 |
Investments—measured at Fair value through profit and loss | 45.1 | 3,706.4 | 2,486 |
Non-cumulative redeemable preference shares (unquoted) [Member] | |||
Disclosure of financial assets [line items] | |||
Investments—measured at Fair value through profit and loss | 0 | 4 | 4 |
Cumulative redeemable preference shares (unquoted) [Member] | |||
Disclosure of financial assets [line items] | |||
Investments—measured at Fair value through profit and loss | 0.2 | 15 | 15 |
Convertible Debentures (unquoted) [Member] | |||
Disclosure of financial assets [line items] | |||
Investments—measured at Fair value through profit and loss | 8.2 | 673.1 | 551.9 |
Unquoted Others [Member] | |||
Disclosure of financial assets [line items] | |||
Investments—measured at Fair value through profit and loss | 0.6 | 48.9 | |
Quoted Investment In Government Securities [Member] | |||
Disclosure of financial assets [line items] | |||
Investments—measured at Fair value through profit and loss | 1.2 | 94.9 | |
Investments—measured at amortized cost | $ 131 | ₨ 10,760 | ₨ 5,426.1 |
Investments - current - Summary
Investments - current - Summary of Other Investments current (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of financial assets [line items] | |||
Investments—measured at Fair value through Other Comprehensive Income | $ 496.2 | ₨ 40,764.8 | ₨ 58,041.2 |
Investments—measured at Fair value through profit and loss | 1,796.5 | 147,618.2 | 169,051 |
Total (a+b) | 2,292.7 | 188,383 | 227,092.2 |
Mutual funds [Member] | |||
Disclosure of financial assets [line items] | |||
Investments—measured at Fair value through profit and loss | 496.2 | 40,764.8 | 57,526.2 |
Convertible Debentures [member] | |||
Disclosure of financial assets [line items] | |||
Investments—measured at Fair value through profit and loss | 0 | 0 | 515 |
Quoted Investment In Government Securities [Member] | |||
Disclosure of financial assets [line items] | |||
Investments—measured at amortized cost | 16.4 | 1,344.4 | 6,856.2 |
Unquoted Mutual Funds [Member] | |||
Disclosure of financial assets [line items] | |||
Investments—measured at amortized cost | $ 1,780.1 | ₨ 146,273.8 | ₨ 162,194.8 |
Other financial assets - curren
Other financial assets - current - Summary of Other Financial Assets - Current (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of financial assets [abstract] | |||
Derivative financial instruments | $ 140.9 | ₨ 11,574.9 | ₨ 19,184.9 |
Loans to channel partners | 14.5 | 1,192.3 | 1,208.9 |
Advances and other receivables recoverable in cash | 361.6 | 29,715.2 | 23,369.8 |
Deposits with financial institution | 12.2 | 1,002.3 | 3,000 |
Inter corporate deposits | 0.5 | 43 | 43 |
Government grant receivables | 46.3 | 3,805.3 | 5,227.5 |
Restricted bank deposits | 78.1 | 6,415.1 | 4,726 |
Finance lease receivables | 4.8 | 391.4 | 289.2 |
Others | 38.6 | 3,171.2 | 2,394.2 |
Total | $ 697.5 | ₨ 57,310.7 | ₨ 59,443.5 |
Other financial assets - curr_2
Other financial assets - current - Additional Information (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) |
Disclosure of financial assets [line items] | |||
Restricted bank deposits held as security in relation to interest and repayment of borrowings | ₨ 5,040 | ₨ 3,167.1 | |
Restricted bank deposits pledged till the maturity of the respective borrowings | 252,272 | $ 3,070.1 | 321,243.9 |
Restricted bank deposits [Member] | |||
Disclosure of financial assets [line items] | |||
Restricted bank deposits pledged till the maturity of the respective borrowings | ₨ 2,338.1 | ₨ 1,807.1 |
Other Financial Assets Non-curr
Other Financial Assets Non-current - Summary of Other Financial Assets (Non-current) (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of financial assets [abstract] | |||
Derivative financial instruments | $ 326.9 | ₨ 26,860.1 | ₨ 20,175.9 |
Loans to channel partners | 77.1 | 6,339.1 | 7,204.6 |
Advance and other receivables recoverable in cash | 67.9 | 5,579.2 | 6,648.2 |
Margin money with banks | 6.5 | 530.6 | 3,638.4 |
Government grants receivables | 200.7 | 16,488.3 | 12,241 |
Loans to employees | 6 | 494.2 | 289.8 |
Deposits with financial institution | 109.5 | 9,000 | 0 |
Deposits with banks | 23.4 | 1,921.3 | 832.4 |
Restricted deposits | 16.3 | 1,335.3 | 2,099.8 |
Finance lease receivables | 65.6 | 5,391.3 | 4,307 |
Others | 61.3 | 5,043.7 | 2,791.3 |
Total | $ 961.2 | ₨ 78,983.1 | ₨ 60,228.4 |
Other Financial Assets Non-cu_2
Other Financial Assets Non-current - Additional Information (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of financial assets [line items] | |||
Restricted deposits held in relation to legal cases | $ 16.3 | ₨ 1,335.3 | ₨ 2,099.8 |
Legal cases [Member] | |||
Disclosure of financial assets [line items] | |||
Restricted deposits held in relation to legal cases | ₨ 542.4 | ₨ 641.4 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Classes of current inventories [abstract] | |||
Raw materials, components and consumables | $ 701.3 | ₨ 57,623.9 | ₨ 57,726.9 |
Work-in-progress | 710.8 | 58,407.4 | 55,965.4 |
Finished goods | 3,548.3 | 291,566.2 | 238,753.7 |
Total | $ 4,960.4 | ₨ 407,597.5 | ₨ 352,446 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | |
Disclosure of inventories [line items] | |||||
Finished goods | ₨ 238,753.7 | $ 3,548.3 | ₨ 291,566.2 | ||
Cost of inventories (including cost of purchased products) recognized as expense | ₨ 2,462,745.6 | 2,067,617.9 | ₨ 1,823,608.8 | ||
Inventory write-down expenses | ₨ 7,232 | 1,253.4 | ₨ 1,291.9 | ||
Vehicles sold subject to repurchase arrangements [Member] | |||||
Disclosure of inventories [line items] | |||||
Finished goods | ₨ 35,891.8 | ₨ 40,861.2 |
Other Current Assets - Summary
Other Current Assets - Summary of Other Current Assets (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Miscellaneous current assets [abstract] | |||
Advances to suppliers and contractors | $ 119.3 | ₨ 9,805.9 | ₨ 8,152.1 |
Taxes recoverable, statutory deposits and dues from government | 667.8 | 54,864.8 | 40,312.8 |
Prepaid expenses | 274.6 | 22,567.8 | 20,292.9 |
Employee benefits | 0.1 | 9 | |
Others | 105 | 8,630.1 | 6,907.9 |
Total | $ 1,166.8 | ₨ 95,877.6 | ₨ 75,665.7 |
Other Non-current Assets - Summ
Other Non-current Assets - Summary of Other Non-current Assets (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Miscellaneous non-current assets [abstract] | |||
Taxes recoverable, statutory deposits and dues from government | $ 78.5 | ₨ 6,447.4 | ₨ 6,215.9 |
Prepaid expenses | 93 | 7,644.6 | 2,825.2 |
Employee benefits | 819.4 | 67,328.3 | 43,169.4 |
Others | 11.8 | 967.6 | 2,004.6 |
Total | $ 1,002.7 | ₨ 82,387.9 | ₨ 54,215.1 |
Property, Plant and Equipment -
Property, Plant and Equipment - Summary of Estimated Useful Lives of the Assets (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Bottom of range [member] | Buildings [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 4 years |
Bottom of range [member] | Plant and equipment [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 3 years |
Bottom of range [member] | Computer equipment [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 3 years |
Bottom of range [member] | Vehicles [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 3 years |
Bottom of range [member] | Fixtures and fittings [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 3 years |
Top of range [member] | Buildings [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 60 years |
Top of range [member] | Plant and equipment [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 30 years |
Top of range [member] | Computer equipment [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 6 years |
Top of range [member] | Vehicles [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 11 years |
Top of range [member] | Fixtures and fittings [member] | |
Schedule of Estimated useful lives of the assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 21 years |
Property, Plant and Equipment_2
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | ₨ 789,133.7 | ||
Ending balance | $ 9,317.4 | 765,611.9 | ₨ 789,133.7 |
Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 1,859,420.3 | 1,812,559.1 | |
Additions | 137,397.5 | 217,141.1 | |
Transferred to Gross Block | (60,255.3) | (130,754) | |
Assets held for sale | (6,343.5) | (1,107.1) | |
Additions on account of Ford plant acquisition | 9,409.3 | ||
Currency translation | 37,385.9 | (22,229.2) | |
Write down of assets | (1) | (722.8) | |
Disposals/Adjustments | (32,041.2) | (15,467) | |
Ending balance | 1,944,972 | 1,859,420.3 | |
Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (1,070,286.5) | (989,518.3) | |
Assets held for sale | 575.6 | 608.8 | |
Depreciation for the year | (115,837.1) | (108,455.8) | |
Reversal of impairment loss | 587.7 | 352.8 | |
Currency translation | (23,058.7) | 13,189.8 | |
Write down of assets | (273.3) | ||
Disposals/Adjustments | 28,659 | 13,809.5 | |
Ending balance | (1,179,360.1) | (1,070,286.5) | |
Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 789,133.7 | ||
Ending balance | $ 9,317.4 | 765,611.9 | 789,133.7 |
Land and buildings [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 315,947.4 | 315,064.9 | |
Additions | 6,826.8 | 6,150.5 | |
Assets held for sale | (6,157) | (915.5) | |
Additions on account of Ford plant acquisition | 6,277.1 | ||
Currency translation | 7,560.9 | (3,918.8) | |
Disposals/Adjustments | (1,508) | (433.7) | |
Ending balance | 328,947.2 | 315,947.4 | |
Land and buildings [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (80,641.9) | (69,641.1) | |
Assets held for sale | 575.6 | 608.8 | |
Depreciation for the year | (12,808.2) | (12,862.1) | |
Currency translation | (2,421.2) | 1,077.5 | |
Disposals/Adjustments | 365.6 | 175 | |
Ending balance | (94,930.1) | (80,641.9) | |
Land and buildings [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 235,305.5 | ||
Ending balance | 234,017.1 | 235,305.5 | |
Plant and equipment [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 1,451,199.1 | 1,356,630.4 | |
Additions | 51,123.1 | 124,013.6 | |
Currency translation | 27,574.1 | (17,141.6) | |
Disposals/Adjustments | (28,649.5) | (12,303.3) | |
Ending balance | 1,501,246.8 | 1,451,199.1 | |
Plant and equipment [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (952,946.5) | (885,252.8) | |
Depreciation for the year | (99,218.5) | (91,543.2) | |
Reversal of impairment loss | 587.7 | 264 | |
Currency translation | (19,836.6) | 11,583.1 | |
Disposals/Adjustments | 27,056.3 | 12,002.4 | |
Ending balance | (1,044,357.6) | (952,946.5) | |
Plant and equipment [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 498,252.6 | ||
Ending balance | 456,889.2 | 498,252.6 | |
Vehicles [member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 5,510.3 | 6,697.1 | |
Additions | 550.1 | 549.8 | |
Currency translation | 41.4 | (43.8) | |
Disposals/Adjustments | (1,122.8) | (1,692.9) | |
Ending balance | 4,979 | 5,510.3 | |
Vehicles [member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (3,401.1) | (3,489.9) | |
Depreciation for the year | (527.8) | (870.3) | |
Reversal of impairment loss | 0.6 | ||
Currency translation | (219.9) | 32.6 | |
Disposals/Adjustments | 926.7 | 925.9 | |
Ending balance | (3,222.1) | (3,401.1) | |
Vehicles [member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,109.2 | ||
Ending balance | 1,756.9 | 2,109.2 | |
Computers [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 28,882.2 | 27,432.1 | |
Additions | 3,322.7 | 2,273.3 | |
Currency translation | 558.4 | (619.7) | |
Disposals/Adjustments | (196.4) | (203.4) | |
Ending balance | 32,566.9 | 28,882.2 | |
Computers [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (19,180.1) | (17,538.9) | |
Depreciation for the year | (2,356.9) | (2,166.9) | |
Reversal of impairment loss | 24.6 | ||
Currency translation | (336.4) | 345.5 | |
Disposals/Adjustments | 167.9 | 155.6 | |
Ending balance | (21,705.5) | (19,180.1) | |
Computers [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 9,702.1 | ||
Ending balance | 10,861.4 | 9,702.1 | |
Furniture and fixtures [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 17,937.4 | 18,110 | |
Additions | 717.3 | 1,215.3 | |
Currency translation | 372.4 | (643) | |
Disposals/Adjustments | (184.8) | (745) | |
Ending balance | 18,842.3 | 17,937.4 | |
Furniture and fixtures [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (12,172.7) | (11,924.7) | |
Depreciation for the year | (925.7) | (1,013.3) | |
Reversal of impairment loss | 63.6 | ||
Currency translation | (244.6) | 151.1 | |
Disposals/Adjustments | 142.4 | 550.7 | |
Ending balance | (13,200.6) | (12,172.7) | |
Furniture and fixtures [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 5,764.7 | ||
Ending balance | 5,641.7 | 5,764.7 | |
Heritage Assets [Member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 3,290 | 3,536.9 | |
Additions | 0 | 50.8 | |
Assets held for sale | (186.5) | (191.6) | |
Currency translation | 2.4 | (17.4) | |
Disposals/Adjustments | (379.7) | (88.7) | |
Ending balance | 2,726.2 | 3,290 | |
Heritage Assets [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (1,944.2) | (1,670.9) | |
Depreciation for the year | 0 | ||
Write down of assets | (273.3) | ||
Ending balance | (1,944.2) | (1,944.2) | |
Heritage Assets [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 1,345.8 | ||
Ending balance | 782 | 1,345.8 | |
Capital work in progress [member] | Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 36,653.9 | 85,087.8 | |
Additions | 74,857.5 | 82,887.8 | |
Transferred to Gross Block | (60,255.3) | (130,754) | |
Additions on account of Ford plant acquisition | 3,132.2 | ||
Currency translation | 1,276.3 | 155.1 | |
Write down of assets | (1) | (722.8) | |
Ending balance | 55,663.6 | 36,653.9 | |
Capital work in progress [member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation for the year | 0 | ||
Ending balance | 0 | ||
Capital work in progress [member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 36,653.9 | ||
Ending balance | ₨ 55,663.6 | ₨ 36,653.9 |
Property, Plant and Equipment_3
Property, Plant and Equipment - Additional Information (Detail) ₨ in Millions | Aug. 07, 2022 INR (₨) |
Ford India Private Limited [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Payment for assets acquisition | ₨ 7,257 |
Leases - Summary of Break Up of
Leases - Summary of Break Up of Lease Liabilities Included in Consolidated Balance Sheet (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure Of Quantitative Information About Lease Liabilities [Abstract] | |||
Current lease liabilities (Refer Note 23) | $ 107.7 | ₨ 8,844.8 | ₨ 8,095.4 |
Non-current lease liabilities (Refer Note 24) | 921.1 | 75,684.9 | 59,624.4 |
Total lease liabilities | $ 1,028.7 | ₨ 84,529.7 | ₨ 67,719.8 |
Leases - Summary of Amounts Rec
Leases - Summary of Amounts Recognized In The Consolidated Income Statement (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure Of Quantitative Information About Lease Liabilities Amounts Recognized In The Consolidated Income Statement [Abstract] | |||
Interest expense on lease liabilities | $ 76.3 | ₨ 6,271.9 | ₨ 5,417.6 |
Variable lease payment not included in the measurement of lease liabilities | 0.5 | 39.8 | 35.7 |
Expenses related to short-term leases | 14.3 | 1,174.7 | 1,155.8 |
Expenses related to low-value assets, excluding short-term leases of low-value assets | 15.2 | 1,245.5 | 1,151.4 |
Income from sub-leasing of right-of-use assets | $ 1.2 | ₨ 99.2 | ₨ 9.9 |
Leases - Summery of Quantitativ
Leases - Summery of Quantitative Information About Right of use Assets (Detail) ₨ in Thousands, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | ₨ 66,860,400 | ||
Ending balance | $ 949.4 | 78,010,600 | ₨ 66,860,400 |
Net carrying amount | $ 949.4 | 66,860,400 | |
Cost [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 106,308,300 | 94,487,900 | |
Additions | 19,856,900 | 14,960,500 | |
Disposals/adjustments | (12,054,300) | (1,847,200) | |
Currency translation | 2,578,200 | (1,292,900) | |
Ending balance | 116,689,100 | 106,308,300 | |
Net carrying amount | 106,308,300 | ||
Accumulated depreciation and amortization [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (39,447,900) | (29,581,100) | |
Amortisation for the year | (11,074,500) | (11,160,200) | |
Amortisation—considered as employee cost | (593,900) | (208,000) | |
Reversal of impairment loss | 2,143,900 | 37,600 | |
Disposals/adjustments | 10,921,400 | 968,300 | |
Currency translation | (627,500) | 495,500 | |
Ending balance | (38,678,500) | (39,447,900) | |
Net carrying amount | (39,447,900) | ||
Land [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 1,836,800 | ||
Ending balance | 1,330,800 | 1,836,800 | |
Net carrying amount | 1,836,800 | ||
Land [member] | Cost [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 3,034,900 | 3,060,100 | |
Additions | 59,900 | ||
Disposals/adjustments | (247,400) | ||
Currency translation | 37,400 | (25,200) | |
Ending balance | 2,884,800 | 3,034,900 | |
Net carrying amount | 3,034,900 | ||
Land [member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (1,198,100) | (818,500) | |
Amortisation for the year | (337,100) | (397,400) | |
Disposals/adjustments | 19,500 | ||
Currency translation | (38,300) | 17,800 | |
Ending balance | (1,554,000) | (1,198,100) | |
Net carrying amount | (1,198,100) | ||
Buildings [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 54,725,900 | ||
Ending balance | 65,413,800 | 54,725,900 | |
Net carrying amount | 54,725,900 | ||
Buildings [Member] | Cost [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 77,858,800 | 69,650,700 | |
Additions | 14,440,100 | 10,778,900 | |
Disposals/adjustments | (3,488,400) | (1,571,000) | |
Currency translation | 2,220,900 | (999,800) | |
Ending balance | 91,031,400 | 77,858,800 | |
Net carrying amount | 77,858,800 | ||
Buildings [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (23,132,900) | (17,257,700) | |
Amortisation for the year | (7,392,100) | (7,087,200) | |
Reversal of impairment loss | 2,143,900 | 37,600 | |
Disposals/adjustments | 3,160,700 | 864,000 | |
Currency translation | (397,200) | 310,400 | |
Ending balance | (25,617,600) | (23,132,900) | |
Net carrying amount | (23,132,900) | ||
Plant Machinery and Equipment [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 6,522,000 | ||
Ending balance | 6,311,900 | 6,522,000 | |
Net carrying amount | 6,522,000 | ||
Plant Machinery and Equipment [member] | Cost [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 15,605,600 | 14,045,900 | |
Additions | 2,525,400 | 1,808,800 | |
Disposals/adjustments | (3,672,200) | (121,400) | |
Currency translation | 182,700 | (127,700) | |
Ending balance | 14,641,500 | 15,605,600 | |
Net carrying amount | 15,605,600 | ||
Plant Machinery and Equipment [member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (9,083,600) | (6,701,300) | |
Amortisation for the year | (2,300,000) | (2,476,700) | |
Disposals/adjustments | 3,207,700 | 1,600 | |
Currency translation | (153,700) | 92,800 | |
Ending balance | (8,329,600) | (9,083,600) | |
Net carrying amount | (9,083,600) | ||
Furniture, Fixtures and Office Appliances [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 1,053,300 | ||
Ending balance | 992,800 | 1,053,300 | |
Net carrying amount | 1,053,300 | ||
Furniture, Fixtures and Office Appliances [member] | Cost [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 1,681,900 | 1,414,800 | |
Additions | 20,200 | 331,800 | |
Disposals/adjustments | (43,100) | ||
Currency translation | 87,400 | (64,700) | |
Ending balance | 1,746,400 | 1,681,900 | |
Net carrying amount | 1,681,900 | ||
Furniture, Fixtures and Office Appliances [member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (628,600) | (292,700) | |
Amortisation for the year | (136,300) | (350,800) | |
Disposals/adjustments | 43,100 | ||
Currency translation | (31,800) | 14,900 | |
Ending balance | (753,600) | (628,600) | |
Net carrying amount | (628,600) | ||
Vehicles [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 1,836,300 | ||
Ending balance | 3,035,700 | 1,836,300 | |
Net carrying amount | 1,836,300 | ||
Vehicles [member] | Cost [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 3,133,800 | 1,753,700 | |
Additions | 2,257,100 | 1,493,900 | |
Disposals/adjustments | (1,259,500) | (84,600) | |
Currency translation | 31,300 | (29,200) | |
Ending balance | 4,162,700 | 3,133,800 | |
Net carrying amount | 3,133,800 | ||
Vehicles [member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (1,297,500) | (927,400) | |
Amortisation for the year | (400,800) | (217,800) | |
Amortisation—considered as employee cost | (593,900) | (208,000) | |
Disposals/adjustments | 1,172,400 | 32,500 | |
Currency translation | (7,200) | 23,200 | |
Ending balance | (1,127,000) | (1,297,500) | |
Net carrying amount | (1,297,500) | ||
Computer and other IT assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 745,800 | ||
Ending balance | 865,700 | 745,800 | |
Net carrying amount | 745,800 | ||
Computer and other IT assets [member] | Cost [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 4,495,600 | 4,164,600 | |
Additions | 554,200 | 439,700 | |
Disposals/adjustments | (3,170,700) | (70,200) | |
Currency translation | 15,800 | (38,500) | |
Ending balance | 1,894,900 | 4,495,600 | |
Net carrying amount | 4,495,600 | ||
Computer and other IT assets [member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (3,749,800) | (3,387,700) | |
Amortisation for the year | (438,300) | (462,100) | |
Disposals/adjustments | 3,154,700 | 70,200 | |
Currency translation | 4,200 | 29,800 | |
Ending balance | (1,029,200) | (3,749,800) | |
Net carrying amount | (3,749,800) | ||
Other Assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 140,300 | ||
Ending balance | 59,900 | 140,300 | |
Net carrying amount | 140,300 | ||
Other Assets [member] | Cost [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 497,700 | 398,100 | |
Additions | 107,400 | ||
Disposals/adjustments | (173,000) | ||
Currency translation | 2,700 | (7,800) | |
Ending balance | 327,400 | 497,700 | |
Net carrying amount | 497,700 | ||
Other Assets [member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | (357,400) | (195,800) | |
Amortisation for the year | (69,900) | (168,200) | |
Disposals/adjustments | 163,300 | ||
Currency translation | (3,500) | 6,600 | |
Ending balance | ₨ (267,500) | (357,400) | |
Net carrying amount | ₨ (357,400) |
Leases - Additional Information
Leases - Additional Information (Detail) - INR (₨) ₨ in Millions | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Incremental borrowing rate applied to lease liabilities | 8.01% | |
Lease commitment for plant and machinery | ₨ 194.8 | ₨ 220 |
Lessee operating lease term of contract | 12 months | |
Minimum [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Average effective interest rate under finance lease | 3.70% | 3.70% |
Maximum [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Average effective interest rate under finance lease | 8.50% | 8.10% |
Plant Machinery and Equipment [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Lease assets | ₨ 0.3 |
Leases - Summary of Additional
Leases - Summary of Additional Information about Leasing Activities for Lessor Included in Consolidated Balance Sheet (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure Of Quantitative Information About Leases For Lessor [Line Items] | |||
Current lease receivables | $ 4.8 | ₨ 391.4 | ₨ 289.2 |
Non-current lease receivables | 65.6 | 5,391.3 | 4,307 |
Total lease receivables | $ 70.4 | ₨ 5,782.7 | ₨ 4,596.2 |
Leases - Summary of Additiona_2
Leases - Summary of Additional Information about Leasing Activities for Lessor Recognised in the Consolidated Income Statement (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure Of Quantitative Information About Leases For Lessor [Line Items] | |||
Sales Revenue for finance leases | $ 16.9 | ₨ 1,389.4 | ₨ 2,785.8 |
Finance income on the net investment in finance leases | $ 5.7 | ₨ 470.3 | ₨ 260.2 |
Leases - Summary of Maturity An
Leases - Summary of Maturity Analysis of Finance Lease Payments Receivable (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total contractual cash flows | $ 70.4 | ₨ 5,782.7 | ₨ 4,596.2 |
Due in 1st Year [member] | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total contractual cash flows | 4.8 | 391.4 | 289.2 |
Due in 2nd Year [member] | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total contractual cash flows | 5.6 | 456.8 | 334.9 |
Due in 3rd to 5th Year [member] | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total contractual cash flows | 19.1 | 1,572.4 | 1,148.6 |
Due beyond 5th Year [member] | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total contractual cash flows | $ 40.9 | ₨ 3,362.1 | ₨ 2,823.5 |
Goodwill - Summary of Goodwill
Goodwill - Summary of Goodwill (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure of reconciliation of changes in goodwill [abstract] | |||
Balance at the beginning | $ 98.2 | ₨ 8,071.7 | ₨ 8,037.2 |
Currency translation | 4.1 | 334.3 | 34.5 |
Balance at the end | $ 102.3 | ₨ 8,406 | ₨ 8,071.7 |
Goodwill - Summary of Carrying
Goodwill - Summary of Carrying Amount of Goodwill (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) |
Disclosure of information for cash-generating units [line items] | |||||
Goodwill | $ 102.3 | ₨ 8,406 | $ 98.2 | ₨ 8,071.7 | ₨ 8,037.2 |
Tata and Other Brand Vehicles [member] | |||||
Disclosure of information for cash-generating units [line items] | |||||
Goodwill | 12.1 | 990.9 | 990.9 | ||
Software consultancy and service [Member] | |||||
Disclosure of information for cash-generating units [line items] | |||||
Goodwill | $ 90.2 | ₨ 7,415.1 | ₨ 7,080.8 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - Goodwill [Member] | Mar. 31, 2023 |
Disclosure of reconciliation of changes in goodwill [line items] | |
Estimated cash flows, pre-tax discount rate | 14.99% |
Estimated cash flows, growth rate | 5% |
Intangible assets - Summary of
Intangible assets - Summary of Estimated Useful Lives of Intangible Assets (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Customer-related intangible assets [member] | |
Schedule of Estimated useful lives of the acquired intangible assets [Line Items] | |
Estimated amortization period | 20 years |
Bottom of range [member] | Patents and technologicalknowhow [Member] | |
Schedule of Estimated useful lives of the acquired intangible assets [Line Items] | |
Estimated amortization period | 2 years |
Bottom of range [member] | Intellectual Property Rights [member] | |
Schedule of Estimated useful lives of the acquired intangible assets [Line Items] | |
Estimated amortization period | 3 years |
Bottom of range [member] | Computer Software [member] | |
Schedule of Estimated useful lives of the acquired intangible assets [Line Items] | |
Estimated amortization period | 1 year |
Bottom of range [member] | Product Develpoment Costs [Member] | |
Schedule of Estimated useful lives of the acquired intangible assets [Line Items] | |
Estimated amortization period | 2 years |
Top of range [member] | Patents and technologicalknowhow [Member] | |
Schedule of Estimated useful lives of the acquired intangible assets [Line Items] | |
Estimated amortization period | 12 years |
Top of range [member] | Intellectual Property Rights [member] | |
Schedule of Estimated useful lives of the acquired intangible assets [Line Items] | |
Estimated amortization period | 10 years |
Top of range [member] | Computer Software [member] | |
Schedule of Estimated useful lives of the acquired intangible assets [Line Items] | |
Estimated amortization period | 8 years |
Top of range [member] | Product Develpoment Costs [Member] | |
Schedule of Estimated useful lives of the acquired intangible assets [Line Items] | |
Estimated amortization period | 10 years |
Intangible Assets - Summary o_2
Intangible Assets - Summary of Intangible Assets (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | ₨ 546,811.7 | ||
Write down of assets | $ (28) | (2,299.5) | |
Ending balance | 6,470.6 | 531,691.8 | ₨ 546,811.7 |
Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 1,276,106.6 | 1,320,508.2 | |
Additions | 159,297.9 | 173,091.3 | |
Capitalised product development | (66,872.2) | (114,076) | |
Write down of assets | (1,789.8) | (918.1) | |
Currency translation | 33,255.8 | 9,905.3 | |
Fully amortized not in use | (114,076.8) | (112,404.1) | |
Ending balance | 1,285,921.5 | 1,276,106.6 | |
Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (729,294.9) | (706,024.9) | |
Amortization for the year | (113,974) | (119,701.2) | |
Reversal for impairment loss | (0.2) | ||
Currency translation | (25,037.5) | (15,972.7) | |
Fully amortized not in use | 114,076.8 | 112,404.1 | |
Ending balance | (754,229.7) | (729,294.9) | |
Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 546,811.7 | ||
Ending balance | $ 6,470.6 | 531,691.8 | 546,811.7 |
Software [Member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 96,958.7 | 95,999.6 | |
Additions | 6,676 | 2,731.4 | |
Currency translation | 2,687.4 | (1,241.4) | |
Fully amortized not in use | (277.7) | (530.9) | |
Ending balance | 106,044.4 | 96,958.7 | |
Software [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (74,821.8) | (69,031.5) | |
Amortization for the year | (7,202.4) | (7,307.5) | |
Reversal for impairment loss | (0.2) | ||
Currency translation | (2,350.3) | 986.5 | |
Fully amortized not in use | 277.7 | 530.9 | |
Ending balance | (84,096.8) | (74,821.8) | |
Software [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 22,136.9 | ||
Ending balance | 21,947.6 | 22,136.9 | |
Patents and technical know-how [member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 17,467.3 | 17,321.6 | |
Additions | 868.9 | 351.6 | |
Currency translation | (79.4) | (205.9) | |
Fully amortized not in use | (2.1) | ||
Ending balance | 18,254.7 | 17,467.3 | |
Patents and technical know-how [member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (16,316.2) | (16,123.9) | |
Amortization for the year | (246.2) | (393.2) | |
Currency translation | 335 | 200.9 | |
Fully amortized not in use | 2.1 | ||
Ending balance | (16,225.3) | (16,316.2) | |
Patents and technical know-how [member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 1,151.1 | ||
Ending balance | 2,029.4 | 1,151.1 | |
Customer related [Member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 6,538.4 | 6,627.8 | |
Currency translation | 129.3 | (89.4) | |
Ending balance | 6,667.7 | 6,538.4 | |
Customer related [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (4,810.1) | (4,619.7) | |
Amortization for the year | (245.3) | (258.9) | |
Currency translation | (111.2) | 68.5 | |
Ending balance | (5,166.6) | (4,810.1) | |
Customer related [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 1,728.3 | ||
Ending balance | 1,501.1 | 1,728.3 | |
Intellectual property rights and other intangibles [Member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 9,178.9 | 10,292.9 | |
Additions | 26.1 | ||
Currency translation | 830.8 | (912.2) | |
Fully amortized not in use | (227.9) | ||
Ending balance | 10,009.7 | 9,178.9 | |
Intellectual property rights and other intangibles [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (3,822.3) | (3,962.1) | |
Amortization for the year | (286.7) | (315.7) | |
Currency translation | (705.8) | 227.6 | |
Fully amortized not in use | 227.9 | ||
Ending balance | (4,814.8) | (3,822.3) | |
Intellectual property rights and other intangibles [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 5,356.6 | ||
Ending balance | 5,194.9 | 5,356.6 | |
Product development costs [Member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 1,025,002.8 | 1,011,615.9 | |
Additions | 64,498.6 | 112,493.9 | |
Currency translation | 27,446 | 12,538.3 | |
Fully amortized not in use | (113,797) | (111,645.3) | |
Ending balance | 1,003,150.4 | 1,025,002.8 | |
Product development costs [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (616,214.6) | (598,977.8) | |
Amortization for the year | (105,993.5) | (111,425.9) | |
Currency translation | (22,205.2) | (17,456.2) | |
Fully amortized not in use | 113,797 | 111,645.3 | |
Ending balance | (630,616.3) | (616,214.6) | |
Product development costs [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 408,788.2 | ||
Ending balance | 372,534.1 | 408,788.2 | |
Indefinite life trademarks and brands [Member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 55,966.1 | 55,966.1 | |
Ending balance | 55,966.1 | 55,966.1 | |
Indefinite life trademarks and brands [Member] | Accumulated depreciation and amortization [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (13,309.9) | (13,309.9) | |
Ending balance | (13,309.9) | (13,309.9) | |
Indefinite life trademarks and brands [Member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 42,656.2 | ||
Ending balance | 42,656.2 | 42,656.2 | |
Intangible assets under development [member] | Cost [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 64,994.4 | 122,684.3 | |
Additions | 87,254.4 | 57,488.3 | |
Capitalised product development | (66,872.2) | (114,076) | |
Write down of assets | (1,789.8) | (918.1) | |
Currency translation | 2,241.7 | (184.1) | |
Ending balance | 85,828.5 | 64,994.4 | |
Intangible assets under development [member] | Net carrying amount before capital work-in-progress [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 64,994.4 | ||
Ending balance | ₨ 85,828.5 | ₨ 64,994.4 |
Intangible Assets - Summary o_3
Intangible Assets - Summary of Intangible Assets (Parenthetical) (Detail) - INR (₨) ₨ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | |||
Allocation of central overheads cost amount | ₨ 7,826.6 | ₨ 5,294.1 | |
Off set against assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Capitalized Contract cost | 7,360.5 | 3,970.6 | ₨ 4,463.9 |
Other income/(loss) (net) [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Capitalized Contract cost | ₨ 9,588 | ₨ 3,461.5 | ₨ 3,978.7 |
Impairment assessment of Jagu_3
Impairment assessment of Jaguar Land Rover Business - Additional Information (Detail) ₨ in Millions, £ in Millions | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 GBP (£) | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 GBP (£) | Mar. 31, 2021 |
Statement [Line Items] | |||||
Recoverable value | ₨ 152,467.2 | £ 1,500 | ₨ 59,654 | £ 600 | |
Percentage of long term growth rate | 1.70% | 1.70% | 1.70% | 1.70% | 1.90% |
Impairment assessment of Jagu_4
Impairment assessment of Jaguar Land Rover Business - Summary Of Key Assumptions Used To Calculate The Recoverable Amount (Detail) | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Statement [Line Items] | ||||
Forecast period (Yr 1-5) variable profit* (%GVR) | [1] | 24.90% | 24.40% | 24% |
Terminal value variable profit (%GVR) | [1] | 23.20% | 24.80% | 21.40% |
Terminal value capital expenditures (%GVR) | 8.10% | 10% | 8.90% | |
Pre-tax discount rate | 15.60% | 13.40% | 13.60% | |
% Change | ||||
Statement [Line Items] | ||||
Forecast period (Yr 1-5) variable profit* (%GVR) | [1] | (6.00%) | (3.10%) | (12.70%) |
Pre-tax discount rate | 31.40% | 8.70% | 39.20% | |
% Change | Cash-generating units [member] | ||||
Statement [Line Items] | ||||
Terminal value variable profit (%GVR) | (5.50%) | (2.10%) | (10.10%) | |
Terminal value capital expenditures (%GVR) | 17.50% | 5.80% | 24.40% | |
[1]Based on forecast variable profit per unit and volumes |
Impairment losses_(reversal) _3
Impairment losses/(reversal) for Passenger Vehicle segment and other provisions - Additional information (Detail) £ in Thousands, € in Millions, ₨ in Millions, $ in Millions | 12 Months Ended | ||||||||
Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2023 GBP (£) | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 GBP (£) | Mar. 31, 2022 EUR (€) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 GBP (£) | Mar. 31, 2022 GBP (£) | |
Impairment Of Passenger Vehicle Segment And Other Provisions [Line Items] | |||||||||
Recoverable value | ₨ 152,467.2 | ₨ 59,654 | £ 1,500,000 | £ 600,000 | |||||
Reversal for impairment in subsidiaries | 610.3 | $ 7.4 | ₨ 6,630 | ||||||
Cash-generating units [member] | VIU [member] | |||||||||
Impairment Of Passenger Vehicle Segment And Other Provisions [Line Items] | |||||||||
Recoverable value | ₨ 105,880 | ||||||||
Passenger vehicle segment [member] | |||||||||
Impairment Of Passenger Vehicle Segment And Other Provisions [Line Items] | |||||||||
Percentage increase in market share | 8.10% | ||||||||
Reversal of provision for impairment of assets | ₨ 3,713.5 | ||||||||
Passenger vehicle segment [member] | Cash-generating units [member] | |||||||||
Impairment Of Passenger Vehicle Segment And Other Provisions [Line Items] | |||||||||
Recoverable value | 49,109.9 | ||||||||
Reversal of onerous contract provision | 7,770 | ||||||||
Passenger vehicle segment [member] | Cash-generating units [member] | FVCLD [member] | |||||||||
Impairment Of Passenger Vehicle Segment And Other Provisions [Line Items] | |||||||||
Recoverable value | 146,186 | ||||||||
Passenger vehicle segment [member] | Cash-generating units [member] | Provision For Supplier Claims [Member] | |||||||||
Impairment Of Passenger Vehicle Segment And Other Provisions [Line Items] | |||||||||
Provision made during the period for estimated supplier claims | ₨ 1,140 | ||||||||
Tata motors european technical center plc [member] | |||||||||
Impairment Of Passenger Vehicle Segment And Other Provisions [Line Items] | |||||||||
Reversal of provision for impairment of assets | ₨ 2,143.9 | £ 23,570 | 381.8 | £ 3,800 | |||||
Trilix [member] | |||||||||
Impairment Of Passenger Vehicle Segment And Other Provisions [Line Items] | |||||||||
Reversal of provision for impairment of assets | ₨ 480.8 | € 5.6 |
Impairment losses_(reversal) _4
Impairment losses/(reversal) for Passenger Vehicle segment and other provisions - Summary of recoverable amount of cash generating unit (Detail) ₨ in Millions, £ in Millions | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 GBP (£) | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 GBP (£) | Mar. 31, 2021 INR (₨) |
Disclosure of information for cash-generating units [line items] | |||||
Recoverable amount | ₨ 152,467.2 | £ 1,500 | ₨ 59,654 | £ 600 | |
Passenger vehicle segment [member] | Cash-generating units [member] | |||||
Disclosure of information for cash-generating units [line items] | |||||
Recoverable amount | ₨ 49,109.9 | ||||
FVCLD [member] | Passenger vehicle segment [member] | Cash-generating units [member] | |||||
Disclosure of information for cash-generating units [line items] | |||||
Recoverable amount | ₨ 146,186 |
Impairment losses_(reversal) _5
Impairment losses/(reversal) for Passenger Vehicle segment and other provisions - Summary of approach and key assumptions used to determine CGU FVLCD (Detail) | Mar. 31, 2021 |
Passenger vehicle segment [member] | |
Disclosure Of Approach And Key Assumptions Used To Determine CGU FVLCD [Line Items] | |
Enterprise value to sales multiple | 1.27 |
Impairment losses_(reversal) _6
Impairment losses/(reversal) for Passenger Vehicle segment and other provisions - Summary of Impairment of Passenger Vehicle Segment and Other Provisions (Detail) - Passenger vehicle segment [member] ₨ in Millions | 12 Months Ended |
Mar. 31, 2021 INR (₨) | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |
Impairment Charge | ₨ (3,713.5) |
Property, plant and equipment [member] | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |
Impairment Charge | (1,881.3) |
Right-of-use assets [member] | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |
Impairment Charge | (120.5) |
Other intangible assets [member] | |
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |
Impairment Charge | ₨ (1,711.7) |
Impairment losses_(reversal) _7
Impairment losses/(reversal) for Passenger Vehicle segment and other provisions - Summary of value of key assumptions used to calculate the aggregate impairment loss recognised (Detail) ₨ in Millions | 12 Months Ended |
Mar. 31, 2021 INR (₨) | |
Decrease in enterprise value to sales multiple by ten percentage [member] | |
Disclosure of value of key assumptions used to calculate the aggregate impairment loss recognised [line items] | |
Impairment Charge | ₨ 14,618.6 |
Impairment losses_(reversal) _8
Impairment losses/(reversal) for Passenger Vehicle segment and other provisions - Summary of value of key assumptions used to calculate the aggregate impairment loss recognised (parenthetical) (Detail) | 12 Months Ended |
Mar. 31, 2021 | |
Decrease in enterprise value to sales multiple by ten percentage [member] | |
Disclosure of value of key assumptions used to calculate the aggregate impairment loss recognised [line items] | |
Percentage decrease in key assumptions to determine aggregate impairment loss | 10% |
Investments in Equity Account_3
Investments in Equity Accounted Investees - Summary of Financial Information of Immaterial Associates Accounted for using the Equity Method (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 INR (₨) | |
Disclosure of associates [line items] | |||||
Company's share of other comprehensive income in associates | $ 1.4 | ₨ 115.8 | ₨ 2,226.6 | ₨ 1,530.3 | |
Immaterial associates [Member] | |||||
Disclosure of associates [line items] | |||||
Carrying amount of the Company's interest in associates | 161.8 | 11,598.1 | ₨ 13,298.1 | ||
Company's share of profit/(loss) in associates | 23.4 | 1,920.3 | 1,314 | (164.1) | |
Company's share of other comprehensive income in associates | (3.4) | 51.4 | 48.9 | ||
Company's share of total comprehensive income in associates | $ 23.3 | ₨ 1,916.9 | ₨ 1,365.4 | ₨ (115.2) |
Investments in Equity Account_4
Investments in Equity Accounted Investees - Additional Information (Detail) - INR (₨) ₨ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of significant investments in associates and joint ventures [line items] | ||
Fair value of investment in an equity accounted associate for which published price quotation is available | ₨ 2,189.5 | ₨ 2,830.7 |
Carrying amount of investment in an equity accounted associate for which published price quotation is available | ₨ 1,513.1 | ₨ 1,407.2 |
Investments in Equity Account_5
Investments in Equity Accounted Investees - Summary of Material Joint Venture (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||||||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2020 INR (₨) | |
Disclosure of joint ventures [line items] | ||||||||
Current assets | $ 18,441.5 | ₨ 1,515,317.6 | ₨ 1,469,543.4 | |||||
Non-current assets | 21,444.1 | 1,762,074.4 | 1,754,059.3 | |||||
Current liabilities | (18,772) | (1,542,488.5) | (1,497,456.7) | |||||
Non-current liabilities | (15,279.9) | (1,255,548) | (1,285,581.4) | |||||
Cash and cash equivalents | 3,880.6 | ₨ 317,000.1 | 318,869.5 | $ 4,643.9 | 381,590.1 | ₨ 184,678 | ||
Revenue | 41,891.3 | ₨ 3,442,205.3 | ₨ 2,765,766.9 | 2,481,631.4 | ||||
Net income/(loss) | 342.7 | 28,160.6 | (112,372.2) | (142,138) | ||||
Total comprehensive income for the year | 109.6 | 9,009.7 | (116,688.6) | (113,126.7) | ||||
Depreciation and amortization | 2,931.6 | 240,885.7 | 239,317.1 | 229,638.1 | ||||
Interest income | (152.3) | (12,511.8) | (6,252.1) | (4,925.3) | ||||
Interest expense (net) | 1,246.1 | 102,392.3 | 93,263.1 | 80,840.5 | ||||
Income tax expense/(credit) | $ 85.7 | ₨ 7,040.6 | ₨ 42,204.9 | 25,410.7 | ||||
Chery Jaguar Land Rover Automotive Co. Limited [member] | ||||||||
Disclosure of joint ventures [line items] | ||||||||
Principal place of the business | China | China | ||||||
% holding | 50% | 50% | 50% | |||||
Current assets | $ 802.3 | 65,924.5 | 62,539.3 | |||||
Non-current assets | 1,566.7 | 128,735.4 | 143,432.4 | |||||
Current liabilities | (1,454.1) | (119,480.2) | (137,225.3) | |||||
Non-current liabilities | (91.2) | (7,495.8) | (4,216.6) | |||||
Total net assets of material joint venture | 823.7 | 67,683.9 | 64,529.8 | |||||
Cash and cash equivalents | 490.3 | 40,287.9 | 38,874.2 | |||||
Current financial liabilities (excluding trade and other payables and provisions) | (419.5) | (34,471.9) | (44,411.1) | |||||
Other consolidation adjustments | (5.9) | (484.8) | (468.2) | |||||
Non-current financial liabilities (excluding trade and other payables and provisions) | (88) | (7,230.6) | (3,845) | |||||
Share of net assets of material joint venture | 411.9 | 33,842 | 32,264.9 | |||||
Carrying amount of the Company's interest in joint venture | 406 | ₨ 33,357.2 | ₨ 31,796.7 | |||||
Revenue | 1,969.3 | ₨ 161,814.2 | ₨ 169,884.5 | 180,580 | ||||
Net income/(loss) | 34.8 | 2,856.1 | (3,695.9) | (8,220.9) | ||||
Total comprehensive income for the year | 34.8 | 2,856.1 | (3,695.9) | (8,220.9) | ||||
Depreciation and amortization | 206.3 | 16,953.9 | 18,423.7 | 19,898.1 | ||||
Interest income | (11.9) | (979.9) | (508.9) | (720.8) | ||||
Interest expense (net) | 16.9 | 1,386.5 | 1,730.4 | 2,030.8 | ||||
Income tax expense/(credit) | $ 12.7 | ₨ 1,045.6 | ₨ 2,035.8 | ₨ 3,060.7 |
Investments in Equity Account_6
Investments in Equity Accounted Investees - Summary of Reconciliation of Financial Information to Carrying Amount of Interest in Joint Venture (Detail) - Chery Jaguar Land Rover Automotive Co. Limited [member] ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of joint ventures [line items] | |||
Net assets of the joint venture | $ 823.7 | ₨ 67,683.9 | ₨ 64,529.8 |
Proportion of the Company's interest in joint venture | 411.9 | 33,842 | 32,264.9 |
Other consolidation adjustments | (5.9) | (484.8) | (468.2) |
Carrying amount of the Company's interest in joint venture | $ 406 | ₨ 33,357.2 | ₨ 31,796.7 |
Investments in Equity Account_7
Investments in Equity Accounted Investees - Summary of Financial Information of Immaterial Joint Ventures Accounted for using the Equity Method (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 USD ($) | |
Disclosure of joint ventures [line items] | |||||
Company's share of other comprehensive income in immaterial joint ventures | ₨ 115.8 | $ 1.4 | ₨ 2,226.6 | ₨ 1,530.3 | |
Immaterial joint ventures [Member] | |||||
Disclosure of joint ventures [line items] | |||||
Carrying amount of the Company's interest in immaterial joint ventures | 101.3 | 99.1 | 100.4 | $ 1.2 | |
Company's share of profit/(loss) in immaterial joint ventures | 0 | 0 | |||
Company's share of other comprehensive income in immaterial joint ventures | 2.2 | 0 | (1.3) | 1.5 | |
Company's share of total comprehensive income in associates | ₨ 2.2 | $ 0 | ₨ (1.3) | ₨ 1.5 |
Investments in Equity Account_8
Investments in Equity Accounted Investees - Summary of Investments in Equity Accounted Investees (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 INR (₨) | |
Disclosure of joint ventures [line items] | |||||
Carrying amount of interest in equity accounted investees | $ 569 | ₨ 43,493.9 | ₨ 46,756.6 | ||
Share of profit/(loss) of equity accounted investees | 40.9 | ₨ 3,363.8 | (740.6) | ₨ (3,789.6) | |
Share of other comprehensive income in immaterial associates | 0.8 | 62.9 | 47.7 | 30.2 | |
Share of other comprehensive income in equity accounted investees | 1.4 | 115.8 | 2,226.6 | 1,530.3 | |
Chery Jaguar Land Rover Automotive Co. Limited [member] | |||||
Disclosure of joint ventures [line items] | |||||
Carrying amount in joint venture | 406 | 31,796.7 | 33,357.2 | ||
Share of profit/(loss) in joint venture | 17.3 | 1,428.1 | (1,848) | (4,110.5) | |
Other adjustments in material joint venture [member] | |||||
Disclosure of joint ventures [line items] | |||||
Carrying amount in joint venture | 406 | 31,796.7 | 33,357.2 | ||
Share of profit/(loss) in joint venture | 0.2 | 15.4 | (206.6) | 485 | |
Share of other comprehensive income, currency translation differences | 1.4 | 117 | 2,176.5 | 1,479.9 | |
Immaterial joint ventures [Member] | |||||
Disclosure of joint ventures [line items] | |||||
Carrying amount in joint venture | 1.2 | 99.1 | 100.4 | 101.3 | |
Share of profit/(loss) in joint venture | 0 | 0 | |||
Share of other comprehensive income, currency translation differences | 0 | 2.2 | (1.3) | 1.5 | |
Share of other comprehensive income in equity accounted investees | 0 | 2.2 | (1.3) | 1.5 | |
Immaterial associates [Member] | |||||
Disclosure of joint ventures [line items] | |||||
Carrying amount in immaterial associates | 161.8 | 11,598.1 | ₨ 13,298.1 | ||
Share of profit/(loss) in immaterial associates | 23.4 | 1,920.3 | 1,314 | (164.1) | |
Share of other comprehensive income, currency translation differences | $ (0.8) | (66.3) | 3.7 | 18.7 | |
Share of other comprehensive income in equity accounted investees | ₨ (3.4) | ₨ 51.4 | ₨ 48.9 |
Income Taxes - Summary of Domes
Income Taxes - Summary of Domestic and Foreign Components of Net Income Before Income Tax (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of geographical areas [line items] | ||||
Net income/(loss) before income taxes | $ 428.4 | ₨ 35,201.2 | ₨ (70,167.3) | ₨ (116,727.3) |
India [Member] | ||||
Disclosure of geographical areas [line items] | ||||
Net income/(loss) before income taxes | 205.6 | 16,890.6 | (26,380.2) | (28,703.4) |
Other than India [Member] | ||||
Disclosure of geographical areas [line items] | ||||
Net income/(loss) before income taxes | $ 222.8 | ₨ 18,310.6 | ₨ (43,787.1) | ₨ (88,023.9) |
Income Taxes - Summary of Dom_2
Income Taxes - Summary of Domestic and Foreign Components of Income Tax Expense (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Deferred taxes | ||||
Deferred taxes | $ 395.9 | ₨ 32,531.5 | ₨ (15,505.1) | ₨ (8,308.9) |
Income tax expense/(credit) reported | 85.7 | 7,040.6 | 42,204.9 | 25,410.7 |
India [Member] | ||||
Current taxes | ||||
Current taxes | 54.4 | 4,469.2 | 3,397.3 | 1,363.6 |
Deferred taxes | ||||
Deferred taxes | (182) | (14,962.8) | (124.3) | 146.5 |
Other than India [Member] | ||||
Current taxes | ||||
Current taxes | 342.1 | 28,114.3 | 23,302.5 | 15,738.2 |
Deferred taxes | ||||
Deferred taxes | $ (128.8) | ₨ (10,580.1) | ₨ 15,629.4 | ₨ 8,162.4 |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation of Estimated Income Tax to Income Tax Expense (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | ||||
Income/(loss) before income taxes | $ 428.4 | ₨ 35,201.2 | ₨ (70,167.3) | ₨ (116,727.3) |
Income tax expense at tax rates applicable to individual entities | 125.8 | 10,340.1 | (9,514.7) | (22,615.8) |
Additional deduction for patent, research and product development cost | (13.4) | 16.6 | ||
Items (net) not deductible for tax /not liable to tax: | ||||
- foreign Currency (gain)/loss relating to loans and deposits (net), foreign | (6.1) | (498) | (38.3) | 49.5 |
- interest and other expenses relating to borrowings for investment | 8.8 | 722 | 638.6 | 315.7 |
- Write-down of assets not qualifying for tax relief | 4,295.6 | |||
- Others | (10.7) | (883.3) | 1,607.6 | 634.7 |
Undistributed earnings of subsidiaries, joint operations and equity accounted investees | 73.3 | 6,022.9 | 4,072.5 | 3,109.3 |
Deferred tax assets not recognized because realization is not probable | 84.2 | 6,921.7 | 35,281.9 | 39,658.8 |
Utilization/credit of unrecognized tax losses, unabsorbed depreciation and other tax benefits | (66.6) | (5,474.5) | (7,253.4) | (3,471.6) |
Deferred tax assets recognized on unabsorbed depreciation and others | (240.6) | (19,770.1) | ||
Deferred tax assets recognized on Long term capital loss | (18.3) | (1,504.8) | ||
Previously recognised deferred tax assets written down | (63.4) | (1) | ||
Profit on sale of investments in subsidiaries and Others | 15.2 | |||
Tax on share of (profit)/loss of equity accounted investees (net) | 9.2 | 758.3 | (70.1) | 744.9 |
Impact of change in rates on moving to new tax regime | 63.6 | 5,223.6 | ||
Impact of change in statutory tax rates | 2.4 | 193.2 | 20.4 | 929.6 |
Others | 60.7 | 4,989.5 | 4,708 | 1,729.2 |
Profit on sale of passenger vehicle undertaking (Common control transaction | 12,829.2 | |||
Income tax expense/(credit) reported | $ 85.7 | ₨ 7,040.6 | ₨ 42,204.9 | ₨ 25,410.7 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||||
Apr. 01, 2020 | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2017 | Mar. 31, 2023 INR (₨) | |
Disclosure of income taxes [line items] | ||||||
Unrecognized deferred tax liability on undistributed profits of certain subsidiaries | ₨ 287,357.3 | ₨ 281,772 | ||||
Deferred tax assets | $ 630.8 | ₨ 38,708.7 | ₨ 45,203.5 | 51,846.7 | ||
Deductible Temporary Differences On Unabsorbed Depreciation [Member] | ||||||
Disclosure of income taxes [line items] | ||||||
Deferred tax assets | 16,154.2 | |||||
United Kingdom [Member] | ||||||
Disclosure of income taxes [line items] | ||||||
Tax rate | 17% | |||||
Tax Rate Effect Of Deferred Tax On Assets | 25% | 25% | 19% | |||
Tax Rate Effect Of Deferred Tax On Liabilities | 25% | 25% | 19% | |||
Scenario plan [Member] | United Kingdom [Member] | After Amendment [Member] | ||||||
Disclosure of income taxes [line items] | ||||||
Tax rate | 19% | |||||
Scenario plan [Member] | United Kingdom [Member] | After Amendment [Member] | Top of range [member] | ||||||
Disclosure of income taxes [line items] | ||||||
Tax rate | 25% | |||||
Scenario plan [Member] | United Kingdom [Member] | After Amendment [Member] | Bottom of range [member] | ||||||
Disclosure of income taxes [line items] | ||||||
Tax rate | 19% | |||||
Scenario plan [Member] | United Kingdom [Member] | Before Amendment [Member] | ||||||
Disclosure of income taxes [line items] | ||||||
Tax rate | 17% | |||||
Indefinitely [Member] | ||||||
Disclosure of income taxes [line items] | ||||||
Unrecognized deferred tax assets | 150,945.1 | |||||
Specified period [Member] | ||||||
Disclosure of income taxes [line items] | ||||||
Unrecognized deferred tax assets | ₨ 27,964.2 |
Income Taxes - Summary of Signi
Income Taxes - Summary of Significant Components of Deferred Tax Assets and Liabilities (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 INR (₨) | |
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | $ 281.4 | ₨ 23,124.3 | ₨ 29,644.6 | ₨ 35,159.9 | |
Impact of change in tax rates recognised in statement of profit and loss | (85.1) | (6,988.7) | |||
Recognized in profit or loss | 395.9 | 32,531.5 | (15,505.1) | (8,308.9) | |
MAT utilization | (15.2) | (1,248) | |||
Closing balance | 459.7 | 37,777.2 | 23,124.3 | 29,644.6 | |
Deferred tax assets | 630.8 | 38,708.7 | 45,203.5 | ₨ 51,846.7 | |
Deferred tax liabilities | (171.2) | (15,584.4) | (15,558.9) | (14,069.5) | |
Undistributed earnings in subsidiaries, joint operations and equity accounted investees, reversed on dividend distribution by subsidiaries | 2,508.3 | 3,552.5 | 2,156.6 | ||
Unabsorbed Depreciation [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 18,589.8 | 20,906.9 | 21,867.5 | ||
Impact of change in tax rates recognised in statement of profit and loss | (7,705.1) | ||||
Recognized in profit or loss | 10,415.1 | (1,543.1) | (944.5) | ||
Movement due to common control business combination | (774) | ||||
Closing balance | 21,298.6 | 18,589.8 | 20,906.9 | ||
Business loss carry forwards [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | (3,306.3) | 18,642.3 | 30,926.7 | ||
Recognized in profit or loss | 25,877.6 | (4,817.7) | (12,606.6) | ||
Recognized in/reclassified from other comprehensive income | 160.4 | ||||
Movement due to common control business combination | (17,291.3) | ||||
Closing balance | 24,740.6 | (3,306.3) | 18,642.3 | ||
Other tax losses -Long term capital loss [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in profit or loss | 1,504.8 | ||||
Closing balance | 1,504.8 | ||||
Expenses deductible - Provisions, allowances for doubtful receivables and others [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 31,457.2 | 34,812.9 | 44,213.1 | ||
Impact of change in tax rates recognised in statement of profit and loss | (1,130.5) | ||||
Recognized in profit or loss | (1,699.9) | (3,565.3) | (9,714.9) | ||
Movement due to common control business combination | (723.3) | ||||
Closing balance | 28,878.1 | 31,457.2 | 34,812.9 | ||
Compensated absences and retirement benefits [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | (8,288) | 9,645.5 | (4,177.3) | ||
Impact of change in tax rates recognised in statement of profit and loss | (423.4) | ||||
Recognized in profit or loss | (4,293.9) | (9,207) | (143.5) | ||
Closing balance | (13,397.4) | (8,288) | 9,645.5 | ||
Minimum alternate tax carry-forward [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 508.6 | 0.5 | 671.5 | ||
Recognized in profit or loss | 1,884.5 | 508.1 | (671) | ||
MAT utilization | (1,248) | ||||
Closing balance | 1,145.1 | 508.6 | 0.5 | ||
Property, plant and equipment [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 108,268.9 | 77,331 | 59,417.5 | ||
Recognized in profit or loss | (30,273.1) | 33,285.7 | 12,223.9 | ||
Closing balance | 77,163.4 | 108,268.9 | 77,331 | ||
Derivative financial instruments [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 13,482.2 | (1,162.3) | 7,756.6 | ||
Impact of change in tax rates recognised in statement of profit and loss | (297.9) | ||||
Recognized in profit or loss | 3,804 | (3,077.7) | 1,779.4 | ||
Closing balance | 5,755.2 | 13,482.2 | (1,162.3) | ||
Unrealized profit on inventory [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 7,645.1 | 10,748.9 | 12,167.2 | ||
Recognized in profit or loss | 4,052.5 | (3,082) | (2,171.8) | ||
Closing balance | 12,298.8 | 7,645.1 | 10,748.9 | ||
Others [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 2,032.5 | 7,268.4 | 15,337.1 | ||
Impact of change in tax rates recognised in statement of profit and loss | (278) | ||||
Recognized in profit or loss | 19,818.3 | (5,396.3) | (8,369.6) | ||
Movement due to common control business combination | (12.5) | ||||
Closing balance | 23,577.6 | 2,032.5 | 7,268.4 | ||
Deferred tax assets [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 170,390 | 178,194.1 | 188,179.9 | ||
Impact of change in tax rates recognised in statement of profit and loss | (9,834.9) | ||||
Recognized in profit or loss | 31,089.9 | 3,104.7 | (20,618.6) | ||
MAT utilization | (1,248) | ||||
Movement due to common control business combination | (18,801.1) | ||||
Closing balance | 182,964.8 | 170,390 | 178,194.1 | ||
Deferred tax assets | 630.8 | 38,708.7 | 45,203.5 | 51,846.7 | |
Property, plant and equipment [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 11,014.2 | 15,607.5 | 12,967.2 | ||
Impact of change in tax rates recognised in statement of profit and loss | (2,851.3) | ||||
Recognized in profit or loss | 2,517.2 | 580.7 | 2,640.9 | ||
Movement due to common control business combination | (5,175.2) | ||||
Closing balance | 10,680.9 | 11,014.2 | 15,607.5 | ||
Intangible assets [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 113,435.6 | 112,705.2 | 121,935.8 | ||
Impact of change in tax rates recognised in statement of profit and loss | (1,720.7) | ||||
Recognized in profit or loss | (5,143.5) | 16,317.2 | (15,651.6) | ||
Movement due to common control business combination | (13,625.9) | ||||
Closing balance | 108,528 | 113,435.6 | 112,705.2 | ||
Undistributed earnings in subsidiaries, joint operations and equity accounted investees [member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 18,041.7 | 17,643 | 15,881.7 | ||
Impact of change in tax rates recognised in statement of profit and loss | 2,210.5 | ||||
Recognized in profit or loss | 1,304.1 | 520 | 952.7 | ||
Closing balance | 21,936.3 | 18,041.7 | 17,643 | ||
Fair valuation of retained interest in a subsidiary subsequent to disposal of controlling equity interest [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 169.5 | 169.5 | 169.5 | ||
Closing balance | 169.5 | 169.5 | 169.5 | ||
Others [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 4,604.7 | 2,424.3 | 2,065.8 | ||
Impact of change in tax rates recognised in statement of profit and loss | (484.8) | ||||
Recognized in profit or loss | (119.4) | 1,191.9 | (251.7) | ||
Closing balance | 3,872.9 | 4,604.7 | 2,424.3 | ||
Deferred tax liabilities [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Opening balance | 147,265.7 | 148,549.5 | 153,020 | ||
Impact of change in tax rates recognised in statement of profit and loss | (2,846.2) | ||||
Recognized in profit or loss | (1,441.6) | 18,609.8 | (12,309.7) | ||
Movement due to common control business combination | (18,801.1) | ||||
Closing balance | 145,187.6 | 147,265.7 | 148,549.5 | ||
Deferred tax liabilities | (171.2) | (15,584.4) | (15,558.9) | ₨ (14,069.5) | |
Translation [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 17.4 | 1,433.3 | (1,660.2) | 110.3 | |
Translation [Member] | Unabsorbed Depreciation [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | (1.2) | (16) | |||
Translation [Member] | Business loss carry forwards [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 2,169.3 | 322.2 | |||
Translation [Member] | Expenses deductible - Provisions, allowances for doubtful receivables and others [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 251.2 | 932.1 | 314.5 | ||
Translation [Member] | Compensated absences and retirement benefits [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | (789.8) | 3,315.5 | (1,105.2) | ||
Translation [Member] | Property, plant and equipment [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | (832.4) | (2,347.8) | 5,689.6 | ||
Translation [Member] | Derivative financial instruments [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 427.3 | (5,902) | 1,057 | ||
Translation [Member] | Unrealized profit on inventory [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 601.2 | (21.8) | 753.5 | ||
Translation [Member] | Others [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 1,952.4 | 119.7 | 316.8 | ||
Translation [Member] | Deferred tax assets [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 3,778 | (3,743.9) | 7,332.4 | ||
Translation [Member] | Property, plant and equipment [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 0.8 | 1.2 | (0.6) | ||
Translation [Member] | Intangible assets [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 1,956.6 | (1,960.9) | 6,421 | ||
Translation [Member] | Undistributed earnings in subsidiaries, joint operations and equity accounted investees [member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 380 | (121.3) | 808.6 | ||
Translation [Member] | Others [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 7.3 | (2.7) | (6.9) | ||
Translation [Member] | Deferred tax liabilities [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 2,344.7 | (2,083.7) | 7,222.1 | ||
Other Than Translation [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | $ (134.8) | (11,075.3) | 10,645 | 2,683.3 | |
Other Than Translation [Member] | Unabsorbed Depreciation [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | (0.1) | ||||
Other Than Translation [Member] | Expenses deductible - Provisions, allowances for doubtful receivables and others [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 0.1 | 0.8 | 0.2 | ||
Other Than Translation [Member] | Compensated absences and retirement benefits [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 397.7 | (12,042) | 15,071.5 | ||
Other Than Translation [Member] | Derivative financial instruments [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | (11,660.4) | 23,624.2 | (11,755.3) | ||
Other Than Translation [Member] | Others [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | 52.4 | 53.2 | (15.9) | ||
Other Than Translation [Member] | Deferred tax assets [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | (11,210.2) | 11,636.2 | 3,300.4 | ||
Other Than Translation [Member] | Others [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | (134.9) | 991.2 | 617.1 | ||
Other Than Translation [Member] | Deferred tax liabilities [Member] | |||||
Changes in deferred tax assets and liabilities [line items] | |||||
Recognized in/reclassified from other comprehensive income | ₨ (134.9) | ₨ 991.2 | ₨ 617.1 |
Income Taxes - Summary of Unrec
Income Taxes - Summary of Unrecognized Deferred Tax Assets Expire Unutilized based on Year of Origination (Detail) - Mar. 31, 2023 ₨ in Millions, $ in Millions | INR (₨) | USD ($) |
2024 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognized deferred tax assets | ₨ 526.9 | $ 6.4 |
2025 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognized deferred tax assets | 5,245.7 | 63.8 |
2026 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognized deferred tax assets | 450.4 | 5.5 |
2027 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognized deferred tax assets | 3,222.1 | 39.2 |
2028 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognized deferred tax assets | 8,424.3 | 102.5 |
Thereafter [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognized deferred tax assets | ₨ 10,094.8 | $ 122.9 |
Short-term Borrowings and Curre
Short-term Borrowings and Current Portion of Long-term Debt - Summary of Short-term Borrowings and Current Portion of Long-term Debt (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Borrowings [abstract] | |||
Commercial paper | $ 589.8 | ₨ 48,466.2 | ₨ 58,571.8 |
Loans from banks/financial institutions | 1,116.1 | 91,722.1 | 112,802 |
Inter-corporate deposits | 5.8 | 480 | 2,410 |
Current portion of long-term debt (refer note 22) | 2,786.6 | 228,978.3 | 245,394.9 |
Total | $ 4,498.3 | ₨ 369,646.6 | ₨ 419,178.7 |
Long-term Debt - Summary of Lon
Long-term Debt - Summary of Long-term Debt (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Borrowings [abstract] | |||
Non-convertible debentures | $ 1,377.3 | ₨ 113,174.3 | ₨ 131,126.3 |
Perpetual debentures | 212.3 | 17,440.9 | 17,182 |
Collateralized debt obligations | 9.1 | 748.7 | 11,825.4 |
Buyers credit from banks at floating interest rate | 310.3 | 25,500 | 40,583.7 |
Loan from banks/financial institutions | 5,149.4 | 423,126.5 | 439,985.5 |
Senior notes | 6,443.6 | 529,471.2 | 576,219 |
Others | 77.5 | 6,366.7 | 5,956.5 |
Total | 13,579.5 | 1,115,828.3 | 1,222,878.4 |
Less: current portion (refer note 21) | 2,786.6 | 228,978.3 | 245,394.9 |
Long-term debt | $ 10,792.9 | ₨ 886,850 | ₨ 977,483.5 |
Long-term Debt - Summary of ass
Long-term Debt - Summary of assets are pledged as collateral against the borrowings (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) |
Disclosure Of Collateral [Line Items] | |||
Financial assets pledged as collateral for liabilities | ₨ 252,272 | $ 3,070.1 | ₨ 321,243.9 |
Other Current Assets [Member] | |||
Disclosure Of Collateral [Line Items] | |||
Financial assets pledged as collateral for liabilities | 1,892.2 | 23 | 8,078.8 |
Finance Receivables [Member] | |||
Disclosure Of Collateral [Line Items] | |||
Financial assets pledged as collateral for liabilities | 227,666.9 | 2,770.7 | 254,877.3 |
Property,plant and equipment [member] | |||
Disclosure Of Collateral [Line Items] | |||
Financial assets pledged as collateral for liabilities | ₨ 22,712.9 | $ 276.4 | ₨ 58,287.8 |
Long-term Debt - Additional Inf
Long-term Debt - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure of detailed information about borrowings [line items] | |||
Short Term Debt | $ 1,711.9 | ₨ 140,668.3 | ₨ 173,783.7 |
Long-term debt | $ 10,792.9 | 886,850 | 977,483.5 |
Long-term borrowings [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Long-term debt | 111,533.6 | 151,366.9 | |
Bottom of range [member] | Long-term borrowings [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Maturity | May 2022 | ||
Top of range [member] | Long-term borrowings [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Maturity | May 2029 | ||
Loans from banks/financial institutions (short-term) [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Short Term Debt | ₨ 22,933.9 | ₨ 48,012.5 | |
Loans from banks/financial institutions (short-term) [member] | Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Commercial paper issued interest rate | 6.70% | ||
Loans from banks/financial institutions (short-term) [member] | Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Commercial paper issued interest rate | 8.65% | ||
Buyers credit from banks at floating interest rate [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Maturity | seven years | ||
Non-convertible debentures [Member] | Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 6.56% | 6.56% | |
Non-convertible debentures [Member] | Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 11.33% | 11.33% | |
Perpetual Debentures [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Non-current portion of non-current notes and debentures issued | ₨ 17,440.9 | ||
Perpetual Debentures [Member] | Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 7.30% | 7.30% | |
Perpetual Debentures [Member] | Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 8.75% | 8.75% |
Long-term Debt - Summary of Det
Long-term Debt - Summary of Details of Tranches of Senior Notes Listed on the Euro MTF Market (Detail) ₨ in Millions, £ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 GBP (£) | Mar. 31, 2023 EUR (€) | Mar. 31, 2022 INR (₨) | |
Disclosure of detailed information about borrowings [line items] | |||||
Outstanding | $ 6,443,600,000 | ₨ 529,471.2 | ₨ 576,219 | ||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Outstanding | 414,983.4 | 470,502.5 | |||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 5.500% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | July 2021 | ||||
Currency | EUR | ||||
Initial Principal amounts | 500 | ||||
Outstanding Principal amounts | 500 | ||||
Outstanding | ₨ 40,807.5 | 37,567.2 | |||
Interest rate | 5.50% | 5.50% | 5.50% | 5.50% | |
Redeemable on | July 2029 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 4.500% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | July 2021 | ||||
Currency | EUR | ||||
Initial Principal amounts | ₨ 500 | ||||
Outstanding Principal amounts | 500 | ||||
Outstanding | ₨ 44,439.8 | 41,894.3 | |||
Interest rate | 4.50% | 4.50% | 4.50% | 4.50% | |
Redeemable on | July 2028 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 5.625% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | January 2013 | ||||
Currency | USD | ||||
Initial Principal amounts | $ | $ 500,000,000 | ||||
Outstanding Principal amounts | $ | $ 500,000,000 | ||||
Outstanding | ₨ 0 | 37,769.2 | |||
Interest rate | 5.625% | 5.625% | 5.625% | 5.625% | |
Redeemable on | February 2023 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 3.875% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | February 2015 | ||||
Currency | GBP | ||||
Initial Principal amounts | £ | £ 400 | ||||
Outstanding Principal amounts | £ | £ 400 | ||||
Outstanding | ₨ 0 | 39,715.3 | |||
Interest rate | 3.875% | 3.875% | 3.875% | 3.875% | |
Redeemable on | March 2023 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 2.200% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | January 2017 | ||||
Currency | EUR | ||||
Initial Principal amounts | € | € 650,000,000 | ||||
Outstanding Principal amounts | € | € 650,000,000 | ||||
Outstanding | ₨ 58,069 | 54,727.3 | |||
Interest rate | 2.20% | 2.20% | 2.20% | 2.20% | |
Redeemable on | January 2024 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 4.500% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | October 2017 | ||||
Currency | USD | ||||
Initial Principal amounts | $ | $ 500,000,000 | ||||
Outstanding Principal amounts | $ | $ 500,000,000 | ||||
Outstanding | ₨ 40,863.9 | 37,617.3 | |||
Interest rate | 4.50% | 4.50% | 4.50% | 4.50% | |
Redeemable on | March 2027 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 4.500% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | October 2018 | ||||
Currency | EUR | ||||
Initial Principal amounts | € | € 500,000,000 | ||||
Outstanding Principal amounts | € | € 500,000,000 | ||||
Outstanding | ₨ 31,090.9 | 35,370.2 | |||
Interest rate | 4.50% | 4.50% | 4.50% | 4.50% | |
Redeemable on | January 2026 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 5.875% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | November 2019 | ||||
Currency | EUR | ||||
Initial Principal amounts | € | € 500,000,000 | ||||
Outstanding Principal amounts | € | € 500,000,000 | ||||
Outstanding | ₨ 44,568.9 | 41,981.2 | |||
Interest rate | 5.875% | 5.875% | 5.875% | 5.875% | |
Redeemable on | November 2024 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 6.875% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | November 2019 | ||||
Currency | EUR | ||||
Initial Principal amounts | € | € 500,000,000 | ||||
Outstanding Principal amounts | € | € 500,000,000 | ||||
Outstanding | ₨ 45,007.7 | 42,561.9 | |||
Interest rate | 6.875% | 6.875% | 6.875% | 6.875% | |
Redeemable on | November 2026 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 7.750% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | October 2020 | ||||
Currency | USD | ||||
Initial Principal amounts | $ | $ 700,000,000 | ||||
Outstanding Principal amounts | $ | $ 700,000,000 | ||||
Outstanding | ₨ 57,153.3 | 52,552.8 | |||
Interest rate | 7.75% | 7.75% | 7.75% | 7.75% | |
Redeemable on | October 2025 | ||||
Jaguar Land Rover Automotive Plc [Member] | Luxembourg Stock Exchange [Member] | 5.875% senior notes [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Issued on | December 2020 | ||||
Currency | USD | ||||
Initial Principal amounts | $ | $ 650,000,000 | ||||
Outstanding Principal amounts | $ | $ 650,000,000 | ||||
Outstanding | ₨ 52,982.4 | ₨ 48,745.8 | |||
Interest rate | 5.875% | 5.875% | 5.875% | 5.875% | |
Redeemable on | January 2028 |
Long-term Debt - Summary of D_2
Long-term Debt - Summary of Details of Tranches of Senior Notes Listed on the SGX-ST Market (Detail) ₨ in Millions, £ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 GBP (£) | Mar. 31, 2022 INR (₨) | |
Disclosure of detailed information about borrowings [line items] | ||||
Outstanding | $ 6,443.6 | ₨ 529,471.2 | ₨ 576,219 | |
Singapore Stock Exchange [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Outstanding | ₨ | 114,487.8 | 105,716.9 | ||
TML Holdings Pte Ltd [Member] | Singapore Stock Exchange [Member] | 5.750% senior notes 1 [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Issued on | October 2014 | |||
Currency | USD | |||
Initial Principal amounts | $ 250 | |||
Outstanding Principal amounts | $ 250 | |||
Outstanding | ₨ | ₨ 20,494.7 | 18,768.6 | ||
Interest rate | 5.75% | 5.75% | 5.75% | |
Redeemable on | October 2024 | |||
TML Holdings Pte Ltd [Member] | Singapore Stock Exchange [Member] | 5.350% senior notes [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Issued on | June 2021 | |||
Currency | USD | |||
Initial Principal amounts | $ 425 | |||
Outstanding Principal amounts | $ 425 | |||
Outstanding | ₨ | ₨ 34,862.8 | 31,994.6 | ||
Interest rate | 4.35% | 4.35% | 4.35% | |
Redeemable on | June 2026 | |||
TML Holdings Pte Ltd [Member] | Singapore Stock Exchange [Member] | 5.875% senior notes [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Issued on | November 2019 | |||
Currency | USD | |||
Initial Principal amounts | $ 300 | |||
Outstanding Principal amounts | $ 300 | |||
Outstanding | ₨ | ₨ 24,592.4 | 22,739.3 | ||
Interest rate | 5.875% | 5.875% | 5.875% | |
Redeemable on | May 2025 | |||
TML Holdings Pte Ltd [Member] | Singapore Stock Exchange [Member] | 4.000% senior notes [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Issued on | July 2020 | |||
Currency | GBP | |||
Initial Principal amounts | £ | £ 98 | |||
Outstanding Principal amounts | £ | £ 98 | |||
Outstanding | ₨ | ₨ 9,878.3 | 9,601.9 | ||
Interest rate | 4% | 4% | 4% | |
Redeemable on | July 2023 | |||
TML Holdings Pte Ltd [Member] | Singapore Stock Exchange [Member] | 5.500% senior notes [Member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Issued on | October 2020 | |||
Currency | USD | |||
Initial Principal amounts | $ 300 | |||
Outstanding Principal amounts | $ 300 | |||
Outstanding | ₨ | ₨ 24,659.6 | ₨ 22,612.5 | ||
Interest rate | 5.50% | 5.50% | 5.50% | |
Redeemable on | June 2024 |
Long-term Debt - Summary of the
Long-term Debt - Summary of the reconciliation of movements of liabilities to cash flows arising from financing activities (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Balance at beginning | ₨ 1,396,662.2 | ₨ 1,358,937.1 | |
Proceeds from issuance of debt | 446,873.8 | 484,179.8 | |
Repayment of debt | (633,110.1) | (447,918.4) | |
Foreign exchange | 42,665.9 | (5,899.5) | |
Amortisation / EIR adjustment of prepaid borrowing costs (net) | 3,404.8 | 7,363.2 | |
Balance at end | 1,256,496.6 | $ 15,291.4 | 1,396,662.2 |
Short-term borrowings [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Balance at beginning | 419,178.7 | 427,917.4 | |
Proceeds from issuance of debt | 281,254.5 | 168,967.8 | |
Repayment of debt | (317,515.5) | (214,360.4) | |
Reclassification of debt | (16,416.9) | 34,104.4 | |
Foreign exchange | 1,613.6 | (822.4) | |
Amortisation / EIR adjustment of prepaid borrowing costs (net) | 1,532.2 | 3,371.9 | |
Balance at end | 369,646.6 | 4,498.6 | 419,178.7 |
Long-term borrowings [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Balance at beginning | 977,483.5 | 931,019.7 | |
Proceeds from issuance of debt | 165,619.3 | 315,212 | |
Repayment of debt | (315,594.6) | (233,558) | |
Reclassification of debt | 16,416.9 | (34,104.4) | |
Foreign exchange | 41,052.3 | (5,077.1) | |
Amortisation / EIR adjustment of prepaid borrowing costs (net) | 1,872.6 | 3,991.3 | |
Balance at end | ₨ 886,850 | $ 10,792.9 | ₨ 977,483.5 |
Other Financial Liabilities - C
Other Financial Liabilities - Current - Summary of Other Current Financial Liabilities (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Categories of current financial liabilities [abstract] | |||
Liability towards vehicles sold under repurchase arrangements | $ 367.8 | ₨ 30,220.1 | ₨ 26,581.4 |
Interest accrued but not due | 204 | 16,764.9 | 17,468 |
Lease liabilities | 107.7 | 8,844.8 | 8,095.4 |
Derivative financial instruments | 533.3 | 43,822.3 | 44,434.2 |
Others | 95.9 | 7,876.5 | 5,970.4 |
Total | $ 1,308.6 | ₨ 107,528.6 | ₨ 102,549.4 |
Other Financial Liabilities - N
Other Financial Liabilities - Non-current - Summary of Other Financial Liabilities Non-current (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Categories of non-current financial liabilities [abstract] | |||
Lease liabilities | $ 921.1 | ₨ 75,684.9 | ₨ 59,624.4 |
Derivative financial instruments | 655.2 | 53,841 | 34,155.4 |
Liability towards employee separation scheme | 10.8 | 890.1 | 1,095 |
Compulsorily convertible preference shares - liability portion | 304.2 | 25,000 | 12,500 |
Others | 42.6 | 3,500 | 5,593.8 |
Total | $ 1,934 | ₨ 158,916 | ₨ 112,968.6 |
Provisions - Summary of Provisi
Provisions - Summary of Provisions (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Current | ||||
Current provisions | $ 1,437.3 | ₨ 118,106.6 | ₨ 107,664.6 | |
Non-current | ||||
Non-current provisions | 1,606 | 131,966.5 | 129,558.9 | |
Product warranty [Member] | ||||
Current | ||||
Current provisions | 946.2 | 77,752.5 | 67,808.8 | |
Non-current | ||||
Non-current provisions | 1,304.2 | 107,166 | 109,527.6 | |
Balance at the beginning | 2,158.1 | ₨ 177,336.5 | ||
Provision made during the year | 1,100.4 | 90,421.9 | ||
Provision used during the year | (1,068) | (87,761.3) | ||
Impact of unwind of discounting | 13.1 | 1,077.6 | ||
Currency translation | 46.8 | 3,843.8 | ||
Balance at the end | 2,250.4 | 184,918.5 | ||
Current | 946.2 | 77,752.5 | ||
Non-current | 1,304.2 | 107,166 | ||
Legal and product liability [Member] | ||||
Current | ||||
Current provisions | 461.6 | 37,922.7 | 25,046.5 | |
Non-current | ||||
Non-current provisions | 92.7 | 7,616.7 | 3,968 | |
Balance at the beginning | 353.1 | 29,014.5 | ||
Provision made during the year | 792.4 | 65,109.8 | ||
Provision used during the year | (627.2) | (51,533.5) | ||
Impact of unwind of discounting | 0 | 0 | ||
Currency translation | 36 | 2,948.6 | ||
Balance at the end | 554.3 | 45,539.4 | ||
Current | 461.6 | 37,922.7 | ||
Non-current | 92.7 | 7,616.7 | ||
Provision for residual risk [Member] | ||||
Current | ||||
Current provisions | 11.1 | 912.5 | 1,217.5 | |
Non-current | ||||
Non-current provisions | 9.9 | 813 | 1,930.5 | |
Balance at the beginning | 38.2 | 3,148 | ||
Provision made/(reversed) during the year | (18.3) | (1,503.1) | ||
Provision used during the year | 0.2 | 8.3 | ||
Currency translation | 0.9 | 72.3 | ||
Transfer to Liabilities | 0 | 0 | ||
Balance at the end | 21 | 1,725.5 | ||
Current | 11.1 | 912.5 | ||
Non-current | 9.9 | 813 | ||
Provision for environmental liability [Member] | ||||
Current | ||||
Current provisions | 7.2 | 593.8 | 289.2 | |
Non-current | ||||
Non-current provisions | 32.3 | 2,658.7 | 2,258.6 | |
Balance at the beginning | 31 | 2,547.8 | ||
Provision made/(reversed) during the year | 9.2 | 760 | ||
Provision used during the year | (1.8) | (143.8) | ||
Currency translation | 1.1 | 88.5 | ||
Transfer to Liabilities | 0 | 0 | ||
Balance at the end | 39.5 | 3,252.5 | ||
Current | 7.2 | 593.8 | ||
Non-current | 32.3 | 2,658.7 | ||
Employee related and other provisions [Member] | ||||
Current | ||||
Current provisions | 6.9 | 568.9 | 1,087.4 | |
Employee benefits obligations [Member] | ||||
Non-current | ||||
Non-current provisions | 155.1 | 12,743.6 | 11,187.3 | |
Other provisions [Member] | ||||
Non-current | ||||
Non-current provisions | 11.8 | 968.5 | 686.9 | |
Provision for onerous contracts [Member] | ||||
Current | ||||
Current provisions | 0 | 0 | 1,179 | |
Non-current | ||||
Balance at the beginning | 14.3 | 1,179 | ||
Provision made/(reversed) during the year | (5.2) | (426.5) | ||
Provision used during the year | (1.7) | (141.5) | ||
Currency translation | 0 | 0 | ||
Transfer to Liabilities | (7.4) | (611) | ||
Balance at the end | 0 | 0 | ||
Current | 0 | 0 | ||
Non-current | 0 | 0 | ||
Restructuring provision [member] | ||||
Current | ||||
Current provisions | 4.3 | 356.2 | ₨ 11,036.2 | |
Non-current | ||||
Balance at the beginning | 134.3 | 11,036.2 | ||
Provision made during the year | 2.6 | 216.3 | ||
Provision used during the year | (129.3) | (10,627.3) | ||
Impact of unwind of discounting | 0 | 0 | ||
Currency translation | (3.3) | (269) | ||
Balance at the end | 4.3 | ₨ 356.2 | ||
Current | 4.3 | 356.2 | ||
Non-current | $ 0 | ₨ 0 |
Other Current Liabilities - Sum
Other Current Liabilities - Summary of Other Current Liabilities (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Miscellaneous current liabilities [abstract] | |||
Contract liabilities | $ 764.7 | ₨ 62,838.5 | ₨ 65,586.5 |
Statutory dues | 463 | 38,041.7 | 41,437.5 |
Others | 17.5 | 1,434.7 | 1,218 |
Total | $ 1,245.2 | ₨ 102,314.9 | ₨ 108,242 |
Other Liabilities - Non-curre_3
Other Liabilities - Non-current - Summary of Other Non-current Liabilities (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Miscellaneous non-current liabilities [abstract] | |||
Employee benefit obligations | $ 34.1 | ₨ 2,798.6 | ₨ 3,237.4 |
Contract liabilities | 723.1 | 59,421.8 | 45,359 |
Others | 18.6 | 1,525.6 | 1,389.6 |
Total | $ 775.8 | ₨ 63,746 | ₨ 49,986 |
Other Liabilities - Non-curre_4
Other Liabilities - Non-current - Summary of Movement of Contract Liabilities (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Miscellaneous non-current liabilities [abstract] | |||
Opening contract liabilities | $ 1,350.2 | ₨ 110,945.5 | ₨ 105,836.3 |
Amount recognized in revenue during the year | (698.4) | (57,391.1) | (46,061.9) |
Amount received in advance during the year | 815.5 | 67,019.3 | 53,721.2 |
Amount refunded to customers during the year | (2.3) | (188.4) | (1,522) |
Currency translation | 22.8 | 1,875 | (1,028.1) |
Balance at the end | $ 1,487.8 | ₨ 122,260.3 | ₨ 110,945.5 |
Other Liabilities - Non-curre_5
Other Liabilities - Non-current - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
Miscellaneous non-current liabilities [abstract] | |
Description of future maintenance service and extended warranty period | Performance obligations in respect of amount received for future maintenance service and extended warranty will be fulfilled over a period of 6 years upto March 31, 2029. |
Performance obligation expected timing for future maintenance service and extended warranty | 6 years |
Other Liabilities - Non-curre_6
Other Liabilities - Non-current - Summary of Contract Liabilities (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) |
Miscellaneous non-current liabilities [abstract] | |||||
Advances received from customers - current | $ 353.1 | ₨ 29,015.9 | ₨ 34,972.3 | ||
Deferred revenue - current | 411.6 | 33,822.6 | 30,614.2 | ||
Deferred revenue -Non-current | 723.1 | 59,421.8 | 45,359 | ||
Total contract liabilities | $ 1,487.8 | ₨ 122,260.3 | $ 1,350.2 | ₨ 110,945.5 | ₨ 105,836.3 |
Equity - Summary of Movement of
Equity - Summary of Movement of Number of Shares and Share Capital (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) shares | Mar. 31, 2023 INR (₨) shares | Mar. 31, 2022 INR (₨) shares | Mar. 31, 2021 INR (₨) shares | |
Ordinary shares [Member] | ||||
Disclosure of classes of share capital [line items] | ||||
Shares at the beginning (in shares) | 3,320,662,007 | 3,320,662,007 | 3,320,307,765 | 3,088,973,894 |
Shares at the beginning | ₨ | ₨ 6,641.8 | ₨ 6,641.1 | ₨ 6,178.4 | |
Shares issued | 682,318 | 682,318 | 354,242 | |
Shares issued | ₨ | ₨ 1.4 | ₨ 0.7 | ||
Shares at the end (in shares) | 3,321,344,325 | 3,321,344,325 | 3,320,662,007 | 3,320,307,765 |
Shares at the end | $ 80.8 | ₨ 6,643.2 | ₨ 6,641.8 | ₨ 6,641.1 |
Ordinary shares [Member] | Preferential Allotment [Member] | ||||
Disclosure of classes of share capital [line items] | ||||
Shares issued | 231,333,871 | |||
Shares issued | ₨ | ₨ 462.7 | |||
'A' Ordinary shares [Member] | ||||
Disclosure of classes of share capital [line items] | ||||
Shares at the beginning (in shares) | 508,502,896 | 508,502,896 | 508,502,896 | 508,502,896 |
Shares at the beginning | ₨ | ₨ 1,017 | ₨ 1,017 | ₨ 1,017 | |
Shares at the end (in shares) | 508,502,896 | 508,502,896 | 508,502,896 | 508,502,896 |
Shares at the end | $ 12.4 | ₨ 1,017 | ₨ 1,017 | ₨ 1,017 |
Equity - Additional Information
Equity - Additional Information (Detail) ₨ / shares in Units, ₨ in Millions | 12 Months Ended | ||||||
Nov. 09, 2022 $ / shares | Mar. 31, 2021 INR (₨) shares | Mar. 31, 2023 $ / shares shares | Mar. 31, 2023 ₨ / shares shares | Mar. 31, 2022 $ / shares shares | Mar. 31, 2022 ₨ / shares shares | Mar. 31, 2021 $ / shares shares | |
Disclosure of classes of share capital [line items] | |||||||
Par value per share | ₨ / shares | ₨ 2 | ||||||
Number of shares issued includes partly paid up shares | 570 | 570 | 570 | 570 | 570 | ||
Class of warrants or rights exercise price | $ / shares | $ 2 | $ 2 | |||||
Number of shares for every depository receipt | 5 | ||||||
Ordinary shares [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Authorized share capital | 4,000,000,000 | 4,000,000,000 | 4,000,000,000 | 4,000,000,000 | 4,000,000,000 | ||
Par value per share | $ / shares | $ 2 | ||||||
Class of warrants or rights number of shares issuable on exercise of warrants | 492,559 | 492,559 | 492,559 | 492,559 | 492,559 | ||
Class of warrants or rights exercise price | $ / shares | $ 2 | ||||||
'A' Ordinary shares [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Authorized share capital | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | ||
Par value per share | $ / shares | $ 2 | ||||||
Class of warrants or rights number of shares issuable on exercise of warrants | 233,214 | 233,214 | 233,214 | ||||
Class of warrants or rights exercise price | $ / shares | $ 2 | $ 2 | |||||
'A' Ordinary shares [Member] | NEW YORK STOCK EXCHANGE, INC. [Member] | Delisting [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Par value per share | $ / shares | $ 2 | ||||||
Number of days from the filing date after which deregistration shall be effective | 90 days | ||||||
Convertible cumulative preference shares [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Authorized share capital | 300,000,000 | 300,000,000 | 300,000,000 | 300,000,000 | 300,000,000 | ||
Par value per share | ₨ / shares | ₨ 100 | ||||||
Convertible Warrants Converted Into Ordinary Shares [Member] | Tata Sons Private Limited [Member] | Preferential Allotment [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Proceeds from equity and convertible warrants | ₨ | ₨ 26,025.1 | ||||||
Warrants Converted Into Equity Shares | 231,333,871 |
Other Components of Equity - Su
Other Components of Equity - Summary of Movement of Currency Translation Reserve (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Balance at the beginning | ₨ 440,564.6 | ₨ 519,135.8 | ₨ 598,034.7 | |
Net change in translation reserve - equity accounted investees (net) | $ 0.6 | 53 | 2,178.9 | 1,500.1 |
Balance at the end | 5,833.7 | 479,355.5 | 440,564.6 | 519,135.8 |
Currency translation reserve [Member] | ||||
Balance at the beginning | 1,077.8 | 88,560.6 | 89,692 | 51,422.5 |
Exchange differences arising on translating the net assets of foreign operations (net) | 143.4 | 11,784.2 | (4,756.7) | 40,454.9 |
Change in effective portion of hedges of net investment in foreign operations | (45.9) | (3,769.1) | 1,446.4 | (3,685.5) |
Net change in translation reserve - equity accounted investees (net) | 0.7 | 52.9 | 2,178.9 | 1,500.1 |
Balance at the end | $ 1,176 | ₨ 96,628.6 | ₨ 88,560.6 | ₨ 89,692 |
Other Components of Equity - _2
Other Components of Equity - Summary of Movement of Gain/(loss) on Equity Instruments Held as Fair Value (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Balance at the beginning | ₨ 440,564.6 | ₨ 519,135.8 | ₨ 598,034.7 | |
Balance at the end | $ 5,833.7 | 479,355.5 | 440,564.6 | 519,135.8 |
Gain/(loss) on Equity instruments held as fair value through other comprehensive income [Member] | ||||
Balance at the beginning | 94.8 | 7,796.9 | 4,373.5 | 391 |
Other Comprehensive income for the year | (16) | (1,317.9) | 3,953 | 4,206.6 |
Income tax relating to gain/(loss) recognized on equity investments, where applicable | 4.8 | 394.2 | (529.6) | (180.5) |
Profit on sale of equity investments reclassified to retained earnings | 0 | 0 | (43.6) | |
Balance at the end | $ 83.6 | ₨ 6,873.2 | ₨ 7,796.9 | ₨ 4,373.5 |
Other Components of Equity - _3
Other Components of Equity - Summary of Movement of Hedging Reserve (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Balance at the beginning | ₨ 440,564.6 | ₨ 519,135.8 | ₨ 598,034.7 | |
Gain/(loss) recognized on cash flow hedges | $ (889.8) | (73,111.8) | (82,654.9) | 44,248.7 |
(Gain)/loss reclassified to profit or loss | 779.9 | 64,065 | (8,093.1) | 10,201.3 |
Balance at the end | 5,833.7 | 479,355.5 | 440,564.6 | 519,135.8 |
Of the above balance related to: | ||||
Equity | 5,833.7 | 519,135.8 | ||
Hedging reserve [Member] | ||||
Balance at the beginning | (727.7) | (59,799) | (1,222.1) | (41,937.1) |
Gain/(loss) recognized on cash flow hedges | (739.3) | (60,747.4) | (84,257.9) | 38,456.8 |
Income tax relating to gain/loss recognized on cash flow hedges | (10.4) | (848.6) | 19,568.5 | (7,356.4) |
(Gain)/loss reclassified to profit or loss | 728.3 | 59,842.1 | (6,213.7) | 11,455.9 |
Income tax relating to gain/loss reclassified to profit or loss | (152.7) | (12,547.3) | 1,264.3 | (2,210.1) |
Amount reclassed from Hedge reserve to Inventory on maturity of inventory hedges | 48 | 3,944.6 | 13,656.7 | 456.1 |
Income tax on amount reclassed from Hedge reserve to Inventory on maturity of inventory hedges | (9.1) | (749.6) | (2,594.8) | (87.3) |
Balance at the end | (862.9) | (70,905.2) | (59,799) | (1,222.1) |
Of the above balance related to: | ||||
Equity | (862.9) | (1,222.1) | ||
Hedging reserve [Member] | Continued Hedges [Member] | ||||
Balance at the beginning | (58,838.9) | (516.8) | ||
Balance at the end | (851.2) | (69,945.1) | (58,838.9) | (516.8) |
Of the above balance related to: | ||||
Equity | (851.2) | (516.8) | ||
Hedging reserve [Member] | Discontinued Hedges [Member] | ||||
Balance at the beginning | (960.1) | (705.4) | ||
Balance at the end | (11.7) | ₨ (960.1) | ₨ (960.1) | (705.4) |
Of the above balance related to: | ||||
Equity | $ (11.7) | ₨ (705.4) |
Other Components of Equity - _4
Other Components of Equity - Summary of Movement of Cost of Hedging Reserve (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Balance at the beginning | ₨ 440,564.6 | ₨ 519,135.8 | ₨ 598,034.7 | |
Gain/(loss) recognized on cash flow hedges | $ (889.8) | (73,111.8) | (82,654.9) | 44,248.7 |
(Gain)/loss reclassified to profit or loss | 779.9 | 64,065 | (8,093.1) | 10,201.3 |
Balance at the end | 5,833.7 | 479,355.5 | 440,564.6 | 519,135.8 |
Of the above balance related to: | ||||
Equity | 5,833.7 | 519,135.8 | ||
Movements of cost of hedging reserve which included time value of options forward element of forward contracts and foreign currency basis spread [Member] | ||||
Balance at the beginning | 10.5 | 864.3 | (6.1) | (4,428.7) |
Gain/(loss) recognized on cash flow hedges | (150.5) | (12,364.5) | 1,603 | 5,791.9 |
Income tax relating to gain/loss recognized on cash flow hedges | 17 | 1,399.3 | (243.3) | (1,169.8) |
(Gain)/loss reclassified to profit or loss | (2.5) | (206.2) | (1,879.4) | (1,254.6) |
Income tax relating to gain/loss reclassified to profit or loss | (2.1) | (174.2) | 343.6 | 181.7 |
Amounts removed from hedge reserve and recognized in inventory | 5.9 | 484.5 | 1,292 | 1,077.2 |
Income tax related to amounts removed from hedge reserve and recognized in inventory | (1.1) | (91.4) | (245.5) | (203.8) |
Balance at the end | (122.8) | (10,088.2) | 864.3 | (6.1) |
Of the above balance related to: | ||||
Equity | (122.8) | (6.1) | ||
Movements of cost of hedging reserve which included time value of options forward element of forward contracts and foreign currency basis spread [Member] | Continued Hedges [Member] | ||||
Balance at the beginning | 864.3 | (6.1) | ||
Balance at the end | (122.8) | ₨ (10,088.2) | 864.3 | (6.1) |
Of the above balance related to: | ||||
Equity | $ (122.8) | (6.1) | ||
Movements of cost of hedging reserve which included time value of options forward element of forward contracts and foreign currency basis spread [Member] | Discontinued Hedges [Member] | ||||
Balance at the beginning | ₨ 0 | |||
Balance at the end | 0 | |||
Of the above balance related to: | ||||
Equity | ₨ 0 |
Other Components of Equity - Di
Other Components of Equity - Disclosure of Detailed Information About Other Components Of Equity Explanatory (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
(Gain)/loss reclassified to profit or loss | $ (779.9) | ₨ (64,065) | ₨ 8,093.1 | ₨ (10,201.3) |
Reserve of gains and losses from investments in Debt instruments [Member] | ||||
Balance at the beginning | 48.6 | 3,997.4 | 2,567.8 | 886.3 |
Other Comprehensive income for the year | 11.9 | 975.2 | 1,981.6 | 2,069 |
(Gain)/loss reclassified to profit or loss | (2.4) | (198.6) | ||
Income tax relating to gain/(loss) recognized on debt investments, where applicable | (2.3) | (186) | (552) | (387.5) |
Balance at the end | $ 55.8 | ₨ 4,588 | ₨ 3,997.4 | ₨ 2,567.8 |
Other Components of Equity - _5
Other Components of Equity - Summary of Other Components of Equity (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) |
Statement of changes in equity [abstract] | ||||
Currency translation reserve | $ 1,176 | ₨ 96,628.6 | ₨ 88,560.6 | ₨ 89,692 |
Investments reserve | 83.6 | 6,873.2 | 7,796.9 | 4,373.5 |
Hedging reserve | (862.9) | (70,905.2) | (59,799) | (1,222.1) |
Cost of hedge reserve | (122.8) | (10,088.2) | 864.3 | (6.1) |
Debt reserve | 55.8 | 4,588 | 3,997.4 | 2,567.8 |
Total | $ 329.7 | ₨ 27,096.4 | ₨ 41,420.2 | ₨ 95,405.1 |
Notes to Reserves and Dividen_2
Notes to Reserves and Dividends - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2023 ₨ / shares | |
Debenture Redemption Reserve percentage | 25% |
Minimum percentage of net profit amount required to be transferred to reserve fund before declaring any dividend | 20% |
Ordinary shares [Member] | |
Dividend declared | ₨ 2 |
'A' Ordinary shares [Member] | |
Dividend declared | ₨ 2.1 |
Tata Daewoo Commercial Vehicle Company Limited [Member] | |
Minimum percentage of cash dividend declared appropriation to legal reserve | 10% |
Percentage of capital stock required until no longer required to appropriate cash dividend declared to legal reserve | 50% |
Revenue - Summary of revenue (D
Revenue - Summary of revenue (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of revenue from contracts with customers [line items] | ||||
Sale of Services | $ 458 | ₨ 37,630.8 | ₨ 38,711.2 | ₨ 33,747.3 |
Total revenue from contract with customers | 42,068.4 | 3,456,760.9 | 2,717,021.9 | 2,451,691.1 |
Realised revenue hedges | (690.6) | (56,750.1) | 7,626.5 | (10,540.1) |
Revenues | 41,377.8 | 3,400,010.8 | 2,724,648.4 | 2,441,151 |
Vehicles [member] | ||||
Disclosure of revenue from contracts with customers [line items] | ||||
Sale of products | 35,984.2 | 2,956,819 | 2,263,993.8 | 2,073,997.4 |
Spare Parts [member] | ||||
Disclosure of revenue from contracts with customers [line items] | ||||
Sale of products | 3,934.2 | 323,276.4 | 287,792.9 | 244,181.9 |
Miscellaneous [member] | ||||
Disclosure of revenue from contracts with customers [line items] | ||||
Sale of products | $ 1,692 | ₨ 139,034.7 | ₨ 126,524 | ₨ 99,764.5 |
Employee Cost - Summary of Empl
Employee Cost - Summary of Employee Cost (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Classes of employee benefits expense [abstract] | ||||
Salaries, wages and welfare expenses | $ 3,820.4 | ₨ 313,926.6 | ₨ 279,624.2 | ₨ 253,440.4 |
Contribution to provident fund and other funds | 275.5 | 22,634.8 | 28,558.9 | 27,643.3 |
Total | $ 4,095.9 | ₨ 336,561.4 | ₨ 308,183.1 | ₨ 281,083.7 |
Employee Cost - Summary of Em_2
Employee Cost - Summary of Employee Cost (Parenthetical) (Detail) - INR (₨) ₨ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Salaries wages and bonus [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Salaries wages and bonus share based compensation | ₨ 300.3 | ₨ 167.3 | ₨ 90.4 |
Employee Cost - Additional Info
Employee Cost - Additional Information (Detail) ₨ / shares in Units, ₨ in Millions, $ in Millions | 2 Months Ended | 12 Months Ended | ||||
May 24, 2023 | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) ₨ / shares | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 INR (₨) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Defined benefit pension plan amendment cost/(credit) | $ 181.9 | ₨ 14,950.7 | ₨ (848.1) | |||
Contribution to defined contribution plans | 13,583.6 | ₨ 12,114.9 | 15,090.5 | |||
Actual return on the schemes' assets | $ 39,885.6 | 3,223,602.7 | 3,342,794.4 | ₨ 3,277,392 | ||
Funding obligations | ₨ 49,501.1 | ₨ 145,357 | ||||
Notes issued | 77,453.3 | |||||
Percentage of annual cost of providing the pension benefits would not exceed salary. | 15% | 15% | ||||
Employer contributions rate | 15% | 15% | ||||
Employer contributions | ₨ 150,000 | |||||
Employee contributions rate | 12% | 12% | ||||
Actuarial Assumption Of Expected Rates Of Return On Plan Assets [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Impact on defined benefit obligation, due to decrease in assumption | ₨ 103.7 | |||||
Change in assumption, decrease | 1% | 1% | ||||
Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Percentage of monthly pension benefits after retirement | 0.75% | 0.75% | ||||
Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Percentage of monthly pension benefits after retirement | 2% | 2% | ||||
Pension and post retirement medical plans [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average duration of defined benefit obligation | 10 years 3 months 18 days | 10 years 3 months 18 days | 11 years 8 months 8 days | |||
Expected contributions to funded plans in Fiscal 2021 | ₨ 891.8 | |||||
Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average duration of defined benefit obligation | 11 years 6 months 25 days | 11 years 6 months 25 days | 11 years 8 months 1 day | |||
Expected contributions to funded plans in Fiscal 2021 | ₨ 58.5 | |||||
Jaguar Pension Plan [Member] | Equalisation Of Guartanteed Minimum Pension Between May Nineteen Ninety And April Nineteen Ninety Seven [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Defined benefit pension plan amendment cost/(credit) | 916.3 | |||||
Jaguar Pension Plan [Member] | Benefit Improvements To Certain Improvements As Part Of The Restructuring Programme [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Defined benefit pension plan amendment cost/(credit) | ₨ 712.7 | |||||
Jaguar Pension Plan [Member] | Change In Indexation For Some Benefits [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Defined benefit pension plan amendment cost/(credit) | ₨ 14,950.7 | |||||
Jaguar Pension Plan [Member] | Males [Member] | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 101% | 111% | 101% | |||
Jaguar Pension Plan [Member] | Males [Member] | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 115% | 117% | 115% | |||
Jaguar Pension Plan [Member] | Females [Member] | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 103% | 101% | 103% | |||
Jaguar Pension Plan [Member] | Females [Member] | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 118% | 112% | 118% | |||
Land Rover Pension Scheme [Member] | Males [Member] | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 105% | 107% | 105% | |||
Land Rover Pension Scheme [Member] | Males [Member] | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 117% | 111% | 117% | |||
Land Rover Pension Scheme [Member] | Females [Member] | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 100% | 101% | 100% | |||
Land Rover Pension Scheme [Member] | Females [Member] | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 116% | 109% | 116% | |||
Jaguar Executive Pension Plan [Member] | Males [Member] | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 93% | |||||
Jaguar Executive Pension Plan [Member] | Males [Member] | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 97% | |||||
Jaguar Executive Pension Plan [Member] | Males [Member] | Weighted Average [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 94% | |||||
Jaguar Executive Pension Plan [Member] | Females [Member] | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 91% | 91% | ||||
Jaguar Executive Pension Plan [Member] | Females [Member] | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 96% | 96% | ||||
Jaguar Executive Pension Plan [Member] | Females [Member] | Weighted Average [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Mortality assumptions scaling factor | 84% | |||||
Jaguar Land Rover Pension plan [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average duration of defined benefit obligation | 14 years 6 months | 14 years 6 months | 17 years 6 months | |||
Allowance for long term improvements, per annum | 1.25% | 1.25% | 1.25% | 1.25% | ||
Contribution rate for defined benefit accrual | 24% | 24% | ||||
Expected net periodic pension cost | ₨ 3,760.9 | |||||
Defined benefit pension plan amendment cost/(credit) | $ 181.9 | ₨ 14,950.7 | ₨ (2) | ₨ (1,559.8) | ||
Actual return on the schemes' assets | ₨ 796.8 | ₨ 190,835.4 | ||||
Jaguar Land Rover Pension plan [member] | Reduction In The Rate Of Contribution [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Contribution rate for defined benefit accrual | 10% | |||||
Jaguar Land Rover Pension plan [member] | Smoothing Parameter [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Allowance for long term improvements, per annum | 7.50% | 7.50% | ||||
Jaguar Land Rover Pension plan [member] | Actuarial Assumption Of Expected Rates Of Return On Plan Assets [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Expected net periodic pension cost | ₨ 3,049.3 | |||||
Defined Benefit Provident Fund Plan [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average duration of defined benefit obligation | 19 years | 19 years | 13 years 6 months | |||
Impact on defined benefit obligation, due to decrease in assumption | ₨ 125.5 | |||||
Employee Stock Options [member] | Share-based Long Term Incentive Scheme 2021 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise Price of options granted | ₨ / shares | ₨ 338 | |||||
Employee Stock Options [member] | Equity Settled Share Option Plan [Member] | Tata Motors Limited Employees Stock Option Scheme 2018 [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise Price of options granted | ₨ / shares | ₨ 345 | |||||
Description Of options granted exercisable For Share based Payment Arrangement | 1 year | 1 year | ||||
Employee Stock Options [member] | Equity Settled Share Option Plan [Member] | Tata Motors Limited Employees Stock Option Scheme 2018 [member] | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Options granted vesting period | 3 years | 3 years | ||||
Number of Shares vest per option | 0.5 | 0.5 | ||||
Employee Stock Options [member] | Equity Settled Share Option Plan [Member] | Tata Motors Limited Employees Stock Option Scheme 2018 [member] | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Options granted vesting period | 5 years | 5 years | ||||
Number of Shares vest per option | 1.5 | 1.5 | ||||
ESO And PSU [Member] | Share-based Long Term Incentive Scheme 2021 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Options granted vesting period | 3 years | 3 years | ||||
Description Of options granted exercisable For Share based Payment Arrangement | 1 year | 1 year | ||||
ESO And PSU [Member] | Share-based Long Term Incentive Scheme 2021 | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of Shares vest per option | 0.5 | 0.5 | ||||
ESO And PSU [Member] | Share-based Long Term Incentive Scheme 2021 | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of Shares vest per option | 1.2 | 1.2 | ||||
PSU [Member] | Share-based Long Term Incentive Scheme 2021 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Exercise Price of options granted | ₨ / shares | ₨ 2 |
Employee Cost - Summary of Equi
Employee Cost - Summary of Equity Settled Share Based Payments (Detail) | 12 Months Ended | |
Mar. 31, 2023 ₨ / shares | Mar. 31, 2022 ₨ / shares | |
Disclosure Of Employee Salaries And Benefit Expenses [line items] | ||
Options outstanding at the beginning of the year | 6,662,551 | 6,804,003 |
Granted during the year | 0 | 335,209 |
Forfeited/Expired during the year | (3,045,214) | (122,419) |
Exercised during the year | (753,622) | (354,242) |
Options Outstanding at the end of the year | 2,863,715 | 6,662,551 |
Remaining contractual life | 3 months | |
Top of range [member] | ||
Disclosure Of Employee Salaries And Benefit Expenses [line items] | ||
Number of shares to be issued for outstanding options (conditional on performance measures) | 4,295,573 | 9,993,827 |
Share price for options exercised during the year | ₨ 490 | ₨ 530 |
Remaining contractual life | 15 months | |
Bottom of range [member] | ||
Disclosure Of Employee Salaries And Benefit Expenses [line items] | ||
Number of shares to be issued for outstanding options (conditional on performance measures) | 1,431,858 | 3,331,276 |
Share price for options exercised during the year | ₨ 372 | ₨ 392 |
Remaining contractual life | 3 months |
Employee Cost - Summary of Esti
Employee Cost - Summary of Estimated Fair Value of Options Granted (Detail) | 12 Months Ended | |
Mar. 31, 2023 yr ₨ / shares | Mar. 31, 2022 yr ₨ / shares | |
Disclosure Of Employee Salaries And Benefit Expenses [line items] | ||
Share Price | ₨ / shares | ₨ 170.6 | ₨ 170.6 |
Bottom of range [member] | ||
Disclosure Of Employee Salaries And Benefit Expenses [line items] | ||
Risk free interest rate | 7% | 7% |
Expected life of option | 2 | 2 |
Expected volatility | 33% | 33% |
Top of range [member] | ||
Disclosure Of Employee Salaries And Benefit Expenses [line items] | ||
Risk free interest rate | 8% | 8% |
Expected life of option | 4 | 4 |
Expected volatility | 37% | 37% |
Employee Cost - Fair value of t
Employee Cost - Fair value of the PSUs and ESO (Details) | 12 Months Ended | |
Mar. 31, 2023 shares | Mar. 31, 2022 shares | |
Statement [Line Items] | ||
No of options, beginning of the period | 6,662,551 | |
No of options Granted | 0 | 335,209 |
No of options Forfeited | (3,045,214) | (122,419) |
No of options Exercised | 753,622 | 354,242 |
No of options, end of the period | 2,863,715 | 6,662,551 |
Remaining contractual life | 3 months | |
ESO [Member] | ||
Statement [Line Items] | ||
No of options, beginning of the period | 839,650 | 0 |
No of options Granted | 0 | 839,650 |
No of options Forfeited | (78,822) | 0 |
No of options Exercised | 0 | 0 |
No of options, end of the period | 760,828 | 839,650 |
Remaining contractual life | 28 months | 28 months |
PSU [Member] | ||
Statement [Line Items] | ||
No of options, beginning of the period | 964,569 | 0 |
No of options Granted | 659,186 | 964,569 |
No of options Forfeited | (92,349) | 0 |
No of options Exercised | 0 | 0 |
No of options, end of the period | 1,531,406 | 964,569 |
Remaining contractual life | 28 months | 28 months |
Employee Cost - Fair value of_2
Employee Cost - Fair value of the PSUs and ESOs has been measured using Black Scholes Option Pricing (Details) | 12 Months Ended | |
Mar. 31, 2023 yr ₨ / shares | Mar. 31, 2022 yr ₨ / shares | |
Statement [Line Items] | ||
Share Price | ₨ 170.6 | ₨ 170.6 |
ESO [Member] | ||
Statement [Line Items] | ||
Risk free interest rate | 5.30% | |
Expected life of option | yr | 3.8 | |
Expected volatility | 50.70% | |
Share Price | ₨ 376.4 | |
PSU [Member] | ||
Statement [Line Items] | ||
Risk free interest rate | 5.30% | 5.30% |
Expected life of option | yr | 4 | 3.8 |
Expected volatility | 52% | 50.70% |
Share Price | ₨ 453.4 | ₨ 376.4 |
Employee Cost - Summary of Chan
Employee Cost - Summary of Change in Defined Benefit Obligations for Pension and Post Retirement Medical Plans (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Pension benefits [Member] | ||||
Change in defined benefit obligations : | ||||
Beginning of the year | ₨ (2,645.5) | |||
Current service cost | $ 13 | 1,065.6 | ₨ 904.7 | ₨ 901.2 |
Interest cost | 1.4 | 114.3 | 52.5 | 77.1 |
Remeasurements (gains) / losses | ||||
Actuarial (gains) / losses arising from demographic assumptions | (0.3) | (22.4) | 68.1 | (24.6) |
Actuarial (gains) / losses arising from changes in financial assumptions | 2 | 165.7 | 217.3 | (0.6) |
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 4.8 | 395.9 | 735 | (129.8) |
End of the year | (27.8) | (2,281.5) | (2,645.5) | |
Pension benefits [Member] | Present value of defined benefit obligation [Member] | ||||
Change in defined benefit obligations : | ||||
Beginning of the year | 189 | 15,521.7 | 13,374.1 | |
Current service cost | 13 | 1,065.6 | 904.7 | |
Interest cost | 13 | 1,070.3 | 883.7 | |
Remeasurements (gains) / losses | ||||
Actuarial (gains) / losses arising from demographic assumptions | (0.3) | (22.4) | 68.1 | |
Actuarial (gains) / losses arising from changes in financial assumptions | 2 | 165.7 | 217.3 | |
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 4.8 | 395.9 | 735 | |
Benefits paid from plan assets | (9.5) | (777.7) | (839.3) | |
Benefits paid directly by employer | (1.4) | (116.2) | (109) | |
Past service cost plan amendment | 0 | 0 | 324.9 | |
Acquisition/(Divestment) | 0.7 | 59.5 | (37.8) | |
End of the year | 211.3 | 17,362.4 | 15,521.7 | 13,374.1 |
Post retirement medical benefits [Member] | ||||
Change in defined benefit obligations : | ||||
Beginning of the year | (2,831.2) | |||
Current service cost | 1.8 | 144.4 | 82.1 | 78.7 |
Interest cost | 2.3 | 192.5 | 115.7 | 108 |
Remeasurements (gains) / losses | ||||
Actuarial (gains) / losses arising from demographic assumptions | 0.1 | 4.3 | 69.5 | 0 |
Actuarial (gains) / losses arising from changes in financial assumptions | 1.9 | 156.3 | 320 | 57.9 |
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 2.5 | 206.9 | 329.3 | 2.8 |
End of the year | (46.4) | (3,813.6) | (2,831.2) | |
Post retirement medical benefits [Member] | Present value of defined benefit obligation [Member] | ||||
Change in defined benefit obligations : | ||||
Beginning of the year | 34.4 | 2,831.2 | 1,844.9 | |
Current service cost | 1.8 | 144.4 | 82.1 | |
Interest cost | 2.3 | 192.5 | 115.7 | |
Remeasurements (gains) / losses | ||||
Actuarial (gains) / losses arising from demographic assumptions | 0.1 | 4.3 | 69.5 | |
Actuarial (gains) / losses arising from changes in financial assumptions | 1.9 | 156.3 | 320 | |
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 2.5 | 206.9 | 329.3 | |
Benefits paid from plan assets | 0 | 0 | ||
Benefits paid directly by employer | (1.9) | (153.9) | (172.4) | |
Past service cost plan amendment | 5.3 | 431.9 | 244.6 | |
Acquisition/(Divestment) | 0 | 0 | (2.5) | |
End of the year | $ 46.4 | ₨ 3,813.6 | ₨ 2,831.2 | ₨ 1,844.9 |
Employee Cost - Summary of Ch_2
Employee Cost - Summary of Change in Plan Assets for Pension and Post Retirement Medical Plans (Detail) - Plan assets [Member] ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure of defined benefit plans [line items] | |||
Beginning of the year | $ 157.3 | ₨ 12,918.1 | ₨ 12,313.1 |
Interest income | 11.6 | 956 | 831.2 |
Remeasurements (gains) / losses – | |||
Return on plan assets, (excluding amount included in net Interest Cost) | 0.1 | 11 | 110.1 |
Employer's contributions | 23.9 | 1,962.6 | 529.5 |
Benefits paid | (9.5) | (777.7) | (839.3) |
Acquisition/(Divestment) | 0.7 | 59.7 | (26.5) |
End of the year | $ 184.1 | ₨ 15,129.7 | ₨ 12,918.1 |
Employee Cost - Summary of Amou
Employee Cost - Summary of Amount Recognized in the Balance Sheet for Pension and Post Retirement Medical Plans (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2023 INR (₨) | |
Pension benefits (Gratuity, Superannuation, BKY/PSY) [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Present value of defined benefit obligation | $ 211.3 | ₨ 15,521.7 | ₨ 17,362.4 | |
Fair value of plan assets | 184.1 | 12,918.1 | 15,129.7 | |
Net liability | (27.2) | (2,603.6) | (2,232.7) | |
Asset Ceiling | (0.6) | ₨ (48.8) | (41.9) | |
Net liability | (27.8) | (2,645.5) | (2,281.5) | |
Amounts in the balance sheet: | ||||
Non-current assets | 4.1 | 20.7 | 339 | |
Non-current liabilities | (31.9) | (2,666.2) | (2,620.3) | |
Net liability | (27.8) | (2,645.5) | (2,281.5) | |
Post retirement medical benefits [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Present value of defined benefit obligation | 46.4 | 2,831.2 | 3,813.6 | |
Fair value of plan assets | 0 | |||
Net liability | (46.4) | (2,831.2) | (3,813.6) | |
Asset Ceiling | ₨ 0 | |||
Net liability | (46.4) | (2,831.2) | (3,813.6) | |
Amounts in the balance sheet: | ||||
Non-current assets | 0 | |||
Non-current liabilities | (46.4) | (2,831.2) | (3,813.6) | |
Net liability | $ (46.4) | ₨ (2,831.2) | ₨ (3,813.6) |
Employee Cost - Summary of Info
Employee Cost - Summary of Information for Funded and Unfunded Plans for Pension and Post Retirement Medical Plans (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Pension benefits (Gratuity, Superannuation, BKY/PSY) [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | $ 211.3 | ₨ 17,362.4 | ₨ 15,521.7 |
Fair value of plan assets | 184.1 | 15,129.7 | 12,918.1 |
Post retirement medical benefits [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | 46.4 | 3,813.6 | 2,831.2 |
Fair value of plan assets | 0 | ||
Funded Plans [member] | Pension benefits (Gratuity, Superannuation, BKY/PSY) [Member] | Defined benefit obligation in excess of plan assets [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | 54.7 | 4,491.6 | 10,655.3 |
Fair value of plan assets | 49.9 | 4,102.9 | 10,084.3 |
Funded Plans [member] | Pension benefits (Gratuity, Superannuation, BKY/PSY) [Member] | Defined benefit obligation less than plan assets [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | 129.5 | 10,639.2 | 2,771.3 |
Fair value of plan assets | 134.2 | 11,027 | 2,833.9 |
Unfunded plans [Member] | Pension benefits (Gratuity, Superannuation, BKY/PSY) [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | 27.2 | 2,231.6 | 2,095 |
Unfunded plans [Member] | Post retirement medical benefits [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | $ 46.4 | ₨ 3,813.6 | ₨ 2,831.2 |
Employee Cost - Summary of Net
Employee Cost - Summary of Net Pension and Post Retirement Medical Cost (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of defined benefit plans [line items] | ||||
Past Service cost - Plan amendment | $ 181.9 | ₨ 14,950.7 | ₨ (848.1) | |
Pension benefits (Gratuity, Superannuation, BKY/PSY) [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Service cost | 13 | 1,065.6 | ₨ 904.7 | 901.2 |
Past Service cost - Plan amendment | 0 | 0 | 324.9 | |
Net interest cost / (income) | 1.4 | 114.3 | 52.5 | 77.1 |
Net periodic cost | 14.4 | 1,179.9 | 1,282.1 | 978.3 |
Post retirement medical benefits [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Service cost | 1.8 | 144.4 | 82.1 | 78.7 |
Past Service cost - Plan amendment | 5.3 | 431.9 | 244.6 | |
Net interest cost / (income) | 2.3 | 192.5 | 115.7 | 108 |
Net periodic cost | $ 9.4 | ₨ 768.8 | ₨ 442.4 | ₨ 186.7 |
Employee Cost - Summary of Othe
Employee Cost - Summary of Other Changes in Plan Assets and Benefit Obligation Recognized in Other Comprehensive Income (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Remeasurements (gains) / losses | ||||
Total recognised in other comprehensive income | $ (24.1) | ₨ (1,980) | ₨ 70,834.7 | ₨ (72,858.7) |
Pension benefits [Member] | ||||
Remeasurements (gains) / losses | ||||
Return on plan assets, (excluding amount included in net Interest expense) | (0.1) | (11) | (110.1) | (355.9) |
Actuarial (gains) / losses arising from changes in demographic assumptions | (0.3) | (22.4) | 68.1 | (24.6) |
Actuarial (gains) / losses arising from changes in financial assumptions | 2 | 165.7 | 217.3 | (0.6) |
Asset Ceiling | 0.1 | 6.8 | 41.9 | 29.2 |
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 4.8 | 395.9 | 735 | (129.8) |
Total recognised in other comprehensive income | 6.5 | 535 | 952.2 | (481.7) |
Total recognized in consolidated statement of comprehensive income | 20.9 | 1,714.9 | 2,234.3 | 496.6 |
Post retirement medical benefits [Member] | ||||
Remeasurements (gains) / losses | ||||
Return on plan assets, (excluding amount included in net Interest expense) | 0 | 0 | ||
Actuarial (gains) / losses arising from changes in demographic assumptions | 0.1 | 4.3 | 69.5 | 0 |
Actuarial (gains) / losses arising from changes in financial assumptions | 1.9 | 156.3 | 320 | 57.9 |
Asset Ceiling | 0 | 0 | ||
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 2.5 | 206.9 | 329.3 | 2.8 |
Total recognised in other comprehensive income | 4.5 | 367.5 | 718.8 | 60.7 |
Total recognized in consolidated statement of comprehensive income | $ 13.9 | ₨ 1,136.3 | ₨ 1,161.2 | ₨ 247.4 |
Employee Cost - Summary of Assu
Employee Cost - Summary of Assumptions Used in Accounting for Pension and Post Retirement Medical Plans (Detail) | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Pension benefits [Member] | Bottom of range [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 7.10% | 6.50% | 6% |
Rate of increase in compensation level of covered employees | 6% | 6% | 5.75% |
Pension benefits [Member] | Top of range [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 7.30% | 7.10% | 6.90% |
Rate of increase in compensation level of covered employees | 12% | 10% | 10% |
Post retirement medical benefits [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 0% | 7.20% | 6.90% |
Increase in health care cost | 0% | 6% | 6% |
Employee Cost - Summary of Fair
Employee Cost - Summary of Fair Value of Company's Pension Plan Assets (Detail) - Pension benefits [Member] | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of fair value of plan assets [line items] | ||
Cash and cash equivalents | 9.50% | 2.30% |
Deposits with Insurance companies | 17.70% | 24.10% |
Total | 100% | 100% |
Level 1 [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Debt instruments | 65.10% | 66.10% |
Equity instruments (quoted) | 7.70% | 7.40% |
Level 2 and 3 of fair value hierarchy [Member] | ||
Disclosure of fair value of plan assets [line items] | ||
Debt instruments | 0% | 0.10% |
Employee Cost - Summary of Sens
Employee Cost - Summary of Sensitivity Analysis for Pension and Post Retirement Medical Plans (Detail) - Pension and post retirement medical plans [Member] ₨ in Millions | Mar. 31, 2023 INR (₨) |
Discount rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption, increase | 1% |
Change in assumption, decrease | 1% |
Impact on defined benefit obligation, due to increase in assumption | ₨ 1,975.8 |
Impact on defined benefit obligation, due to decrease in assumption | 1,699.4 |
Impact on service cost and interest cost, due to increase in assumption | 355.2 |
Impact on service cost and interest cost, due to decrease in assumption | ₨ 323.6 |
Salary escalation rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption, increase | 1% |
Change in assumption, decrease | 1% |
Impact on defined benefit obligation, due to increase in assumption | ₨ 1,337 |
Impact on defined benefit obligation, due to decrease in assumption | 1,194.7 |
Impact on service cost and interest cost, due to increase in assumption | 306.4 |
Impact on service cost and interest cost, due to decrease in assumption | ₨ 270.6 |
Health care cost [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption, increase | 1% |
Change in assumption, decrease | 1% |
Impact on defined benefit obligation, due to increase in assumption | ₨ 514.3 |
Impact on defined benefit obligation, due to decrease in assumption | 424.9 |
Impact on service cost and interest cost, due to increase in assumption | 100.4 |
Impact on service cost and interest cost, due to decrease in assumption | ₨ 81.4 |
Employee Cost - Summary of Ch_3
Employee Cost - Summary of Change in Defined Benefit Obligations for Defined Benefit Provident Fund Plan (Detail) - Defined Benefit Provident Fund Plan [Member] ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Changes in net defined benefit liability (asset) [abstract] | |||
Service cost | $ 0.5 | ₨ 41 | ₨ 1,268.9 |
Interest expense | 0 | 2.7 | 55.5 |
Actuarial (gains) / losses arising from changes in experience adjustments | 0.2 | 15.8 | (786.2) |
Actuarial (gains) / losses arising from demographic assumptions | 0 | 0 | 33.5 |
Actuarial (gains) / losses arising from changes in financial assumptions | (0.5) | (40.1) | 1,473.2 |
Present value of defined benefit obligation [member] | |||
Changes in net defined benefit liability (asset) [abstract] | |||
Beginning of the year | 497.2 | 40,854.2 | 45,596.5 |
Service cost | 0.5 | 41 | 1,268.9 |
Employee contribution | 0.9 | 73 | 2,923.6 |
Acquisitions (credit) / cost | 0 | 0 | (8,042.8) |
Transfer in / Transfer out | 0.2 | 12.9 | 0 |
Interest expense | 1.1 | 88.5 | 3,564.7 |
Actuarial (gains) / losses arising from changes in experience adjustments | 0.2 | 15.8 | (786.2) |
Actuarial (gains) / losses arising from demographic assumptions | 0 | 0 | 33.5 |
Actuarial (gains) / losses arising from changes in financial assumptions | (0.5) | (40.1) | 1,473.2 |
Benefits paid | (0.7) | (55.3) | (3,173) |
Balance transferred to government managed provident fund | (482.5) | (39,643.5) | (2,004.2) |
End of the year | $ 16.4 | ₨ 1,346.5 | ₨ 40,854.2 |
Employee Cost - Summary of Ch_4
Employee Cost - Summary of Change in Plan Assets for Defined Benefit Provident Fund Plan (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Plan assets [member] | |||
Disclosure of defined benefit plans [line items] | |||
Beginning of the year | $ 157.3 | ₨ 12,918.1 | ₨ 12,313.1 |
Acquisition Adjustment | 0.7 | 59.7 | (26.5) |
Interest income | (11.6) | (956) | (831.2) |
Return on plan assets excluding amounts included in interest income | 0.1 | 11 | 110.1 |
End of the year | 184.1 | 15,129.7 | 12,918.1 |
Defined Benefit Provident Fund Plan [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Interest income | 0 | 2.7 | 55.5 |
Return on plan assets excluding amounts included in interest income | 0.4 | 29.9 | (2,322.1) |
Defined Benefit Provident Fund Plan [Member] | Plan assets [member] | |||
Disclosure of defined benefit plans [line items] | |||
Beginning of the year | 505.5 | 41,534.6 | 44,702.1 |
Acquisition Adjustment | 0 | 0 | (8,042.8) |
Transfer in / Transfer out | 0.2 | 12.9 | 0 |
Interest income | 1 | 85.8 | 3,509.2 |
Return on plan assets excluding amounts included in interest income | (0.4) | (29.9) | 2,322.1 |
Contributions (employer and employee) | 1.4 | 114.1 | 4,190.3 |
Benefits paid | (0.7) | (55.3) | (3,173) |
Balance transferred to government managed provident fund | (491.2) | (40,362.6) | (1,973.3) |
End of the year | $ 15.8 | ₨ 1,299.6 | ₨ 41,534.6 |
Employee Cost - Summary of Am_2
Employee Cost - Summary of Amount Recognized in the Balance Sheet for Defined Benefit Provident Fund Plan (Detail) - Defined Benefit Provident Fund Plan [Member] ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of defined benefit plans [line items] | |||
Fair value of plan assets | $ 15.8 | ₨ 1,299.6 | ₨ 41,534.6 |
Present value of defined benefit obligation | 16.4 | 1,346.5 | 40,854.2 |
Total present in recognized in the balance sheet net defined benefit asset | (0.6) | (46.9) | 680.4 |
Effect of asset ceiling | 0 | 0 | (684.5) |
Net liability | $ (0.6) | ₨ (46.9) | ₨ (4.1) |
Employee Cost - Summary of Ne_2
Employee Cost - Summary of Net Periodic Cost Defined Benefit Provident Fund Plan (Detail) - Defined Benefit Provident Fund Plan [Member] ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure of defined benefit plans [line items] | |||
Service cost | $ 0.5 | ₨ 41 | ₨ 1,268.9 |
Net interest cost / (income) | 0 | 2.7 | 55.5 |
Net periodic cost | $ 0.5 | ₨ 43.7 | ₨ 1,324.4 |
Employee Cost - Summary of Reme
Employee Cost - Summary of Remeasurements (Gains)/Losses Recognized in Other Comprehensive Income (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Remeasurements | ||||
Total recognised in other comprehensive income | $ (24.1) | ₨ (1,980) | ₨ 70,834.7 | ₨ (72,858.7) |
Defined Benefit Provident Fund Plan [Member] | ||||
Remeasurements | ||||
Return on plan assets, (excluding amount included in net Interest expense) | 0.4 | 29.9 | (2,322.1) | |
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 0.2 | 15.8 | (786.2) | |
Actuarial (gains) / losses arising from changes in financial assumptions | (0.5) | (40.1) | 1,473.2 | |
Actuarial (gains) / losses arising from demographic assumptions | 0 | 0 | 33.5 | |
Reversal of OCI for previous years due to surrender of Provident Fund | 0 | 0 | (30.9) | |
Adjustments for limits on net asset | 0 | 0 | 719.1 | |
Total recognised in other comprehensive income | 0.1 | 5.6 | (913.4) | |
Total recognized in income statement and other comprehensive income | $ 0.6 | ₨ 49.3 | ₨ 411 |
Employee Cost - Summary of As_2
Employee Cost - Summary of Assumptions Used Defined Benefit Provident Fund Plan (Detail) - Defined Benefit Provident Fund Plan [Member] | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of defined benefit plans [line items] | ||
Discount rate | 7.30% | 7.10% |
Expected rate of return on plan assets | 8.50% | 8% |
Remaining term to maturity of portfolio | 19 years | 13 years 6 months |
Employee Cost - Summary of Fa_2
Employee Cost - Summary of Fair Value of Plan Assets by Category Defined Benefit Provident Fund Plan (Detail) - Defined Benefit Provident Fund Plan [Member] | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of defined benefit plans [line items] | ||
Total | 100% | 100% |
Central And State Government Bonds [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Debt instruments, percentage contributed to fair value of plan assets | 0% | 42.70% |
Alternative [member] | ||
Disclosure of defined benefit plans [line items] | ||
Debt instruments, percentage contributed to fair value of plan assets | 0% | 25.10% |
Government Debt Instruments [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Debt instruments, percentage contributed to fair value of plan assets | 50.70% | 0% |
Other Debt Instruments [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Debt instruments, percentage contributed to fair value of plan assets | 40.10% | 0% |
Equity Instruments [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Debt instruments, percentage contributed to fair value of plan assets | 9.20% | 0% |
Public Sectior Undertaking And Public Sector Undertaking Bonds [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Debt instruments, percentage contributed to fair value of plan assets | 0% | 32.20% |
Employee Cost - Summary of Ch_5
Employee Cost - Summary of Change in Defined Benefit Obligation for Tata Daewoo Commercial Vehicles Limited Severance Indemnity Plan (Detail) - Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of defined benefit plans [line items] | ||||
Service cost | $ 6.6 | ₨ 539 | ₨ 482.1 | ₨ 546.7 |
Interest cost | 0.1 | 6.9 | 0.4 | 5.6 |
Actuarial (gains) / losses arising from changes in financial assumptions | (4.6) | (379.7) | (53.6) | (213.5) |
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 0.2 | 17.5 | 412.2 | (196.6) |
Present value of defined benefit obligation [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Beginning of the year | 46.6 | 3,827.5 | 3,110.8 | |
Service cost | 6.6 | 539 | 482.1 | |
Interest cost | 1.4 | 111.9 | 63.9 | |
Actuarial (gains) / losses arising from changes in financial assumptions | (4.6) | (379.7) | (53.6) | |
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 0.2 | 17.5 | 412.2 | |
Benefits paid from plan assets | (0.8) | (67.6) | (62.5) | |
Benefits paid directly by employer | 0 | (4) | (7.9) | |
Foreign currency translation | 0.5 | 42.8 | (117.5) | |
End of the year | $ 49.9 | ₨ 4,087.4 | ₨ 3,827.5 | ₨ 3,110.8 |
Employee Cost - Summary of Ch_6
Employee Cost - Summary of Change in Plan Assets for Tata Daewoo Commercial Vehicles Limited Severance Indemnity Plan (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Plan assets [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Beginning of the year | $ 157.3 | ₨ 12,918.1 | ₨ 12,313.1 | |
Interest income | 11.6 | 956 | 831.2 | |
Remeasurements gain / (loss) | ||||
Return on plan assets, (excluding amount included in net Interest expense) | (0.1) | (11) | (110.1) | |
Employer's contributions | 23.9 | 1,962.6 | 529.5 | |
Benefits paid | (9.5) | (777.7) | (839.3) | |
End of the year | 184.1 | 15,129.7 | 12,918.1 | ₨ 12,313.1 |
Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Interest income | (0.1) | (6.9) | (0.4) | (5.6) |
Remeasurements gain / (loss) | ||||
Return on plan assets, (excluding amount included in net Interest expense) | 0.5 | 41.9 | 54.7 | 15.9 |
Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] | Plan assets [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Beginning of the year | 40.9 | 3,357.1 | 2,650.6 | |
Interest income | 1.3 | 105 | 63.5 | |
Remeasurements gain / (loss) | ||||
Return on plan assets, (excluding amount included in net Interest expense) | (0.5) | (41.9) | (54.7) | |
Employer's contributions | 5.6 | 461.3 | 862.5 | |
Benefits paid | (0.8) | (67.6) | (62.5) | |
Foreign currency translation | 0.5 | 44.6 | (102.3) | |
End of the year | $ 47 | ₨ 3,858.5 | ₨ 3,357.1 | ₨ 2,650.6 |
Employee Cost - Summary of Am_3
Employee Cost - Summary of Amount Recognized in the Balance Sheet for Tata Daewoo Commercial Vehicles Limited Severance Indemnity Plan (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of defined benefit plans [line items] | |||
Non- current liabilities | $ (34.1) | ₨ (2,798.6) | ₨ (3,237.4) |
Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Present value of defined benefit obligation | 49.7 | 4,087.4 | 3,827.5 |
Fair value of plan assets | 47 | 3,858.5 | 3,357.1 |
Net liability | (2.7) | (228.9) | (470.4) |
Non- current liabilities | $ (2.7) | ₨ (228.9) | ₨ (470.4) |
Employee Cost - Summary of Ne_3
Employee Cost - Summary of Net Severance Indemnity Cost for Tata Daewoo Commercial Vehicles Limited Severance Indemnity Plan (Detail) - Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of net defined benefit liability (asset) [line items] | ||||
Service cost | $ 6.6 | ₨ 539 | ₨ 482.1 | ₨ 546.7 |
Net interest cost | 0.1 | 6.9 | 0.4 | 5.6 |
Net periodic pension cost | $ 6.7 | ₨ 545.9 | ₨ 482.5 | ₨ 552.3 |
Employee Cost - Summary of Ot_2
Employee Cost - Summary of Other Changes in Plan Assets and Benefit Obligation Recognized in Other Comprehensive Income for Tata Daewoo Commercial Vehicles Limited Severance Indemnity Plan (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Remeasurements (gains) / losses | ||||
Total recognised in other comprehensive income | $ (24.1) | ₨ (1,980) | ₨ 70,834.7 | ₨ (72,858.7) |
Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] | ||||
Remeasurements (gains) / losses | ||||
Return on plan assets, (excluding amount included in net Interest expense) | 0.5 | 41.9 | 54.7 | 15.9 |
Actuarial (gains) / losses arising from changes in financial assumptions | (4.6) | (379.7) | (53.6) | (213.5) |
Actuarial (gains) / losses arising from changes in experience adjustments on plan liabilities | 0.2 | 17.5 | 412.2 | (196.6) |
Actuarial (gains) / losses arising from changes in demographic assumption on plan liabilities | 0 | 0 | 0 | 150.4 |
Total recognised in other comprehensive income | (3.9) | (320.3) | 413.3 | (243.8) |
Total recognized in income statement and other comprehensive income | $ 2.8 | ₨ 225.6 | ₨ 895.8 | ₨ 308.5 |
Employee Cost - Summary of As_3
Employee Cost - Summary of Assumptions Used in Accounting for Tata Daewoo Commercial Vehicles Limited Severance Indemnity Plan (Detail) - Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of defined benefit plans [line items] | |||
Discount rate | 3.40% | 2.10% | 1.60% |
Rate of increase in compensation level of covered employees | 3.90% | 3.50% | 3.50% |
Employee Cost - Summary of Se_2
Employee Cost - Summary of Sensitivity Analysis for Tata Daewoo Commercial Vehicles Limited Severance Indemnity Plan (Detail) - Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] ₨ in Millions | Mar. 31, 2023 INR (₨) |
Discount rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption, increase | 1% |
Change in assumption, decrease | 1% |
Impact on scheme liabilities, due to increase in assumption | ₨ 498.3 |
Impact on scheme liabilities, due to decrease in assumption | 428 |
Impact on service cost and interest cost, due to increase in assumption | 147.1 |
Impact on service cost and interest cost, due to decrease in assumption | ₨ 128 |
Salary escalation rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption, increase | 1% |
Change in assumption, decrease | 1% |
Impact on scheme liabilities, due to increase in assumption | ₨ 490.6 |
Impact on scheme liabilities, due to decrease in assumption | 430 |
Impact on service cost and interest cost, due to increase in assumption | 151.8 |
Impact on service cost and interest cost, due to decrease in assumption | ₨ 130.8 |
Employee Cost - Summary of Plan
Employee Cost - Summary of Plan Assets Allocation by Category for Tata Daewoo Commercial Vehicles Limited Severance Indemnity Plan (Detail) | Mar. 31, 2023 | Mar. 31, 2022 |
Severance indemnity of Tata Daewoo Commercial Vehicles Limited [Member] | ||
Disclosure of defined benefit plans [line items] | ||
Deposit with banks | 100% | 100% |
Employee Cost - Summary of Ch_7
Employee Cost - Summary of Change in Plan Assets for Jaguar Land Rover Limited Pension Plan (Detail) ₨ in Thousands, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Remeasurements (gains) / losses | ||||
Defined benefit pension plan amendment cost/(credit) | $ 181.9 | ₨ 14,950,700 | ₨ (848,100) | |
Plan assets [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Beginning of the year | 157.3 | 12,918,100 | ₨ 12,313,100 | |
Interest cost | (11.6) | (956,000) | (831,200) | |
Remeasurements (gains) / losses | ||||
Return on plan assets, (excluding amount included in net Interest expense) | 0.1 | 11,000 | 110,100 | |
Employer's contributions | 23.9 | 1,962,600 | 529,500 | |
Benefits paid | (9.5) | (777,700) | (839,300) | |
End of the year | 184.1 | 15,129,700 | 12,918,100 | 12,313,100 |
Jaguar Land Rover Pension plan [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Beginning of the year | (40,719,100) | |||
Service cost | 96.2 | 7,902,800 | 11,823,100 | 12,715,200 |
Remeasurements (gains) / losses | ||||
Actuarial (gains) / losses arising from demographic assumptions | 0.1 | 5,800 | 1,045,600 | (2,035,000) |
Return on plan assets, (excluding amount included in net Interest expense) | (2,611.3) | (214,573,000) | 927,500 | 2,151,000 |
Actuarial (gains) / losses arising from changes in financial assumptions | (2,777.6) | (228,239,200) | (71,812,300) | 84,311,800 |
Actuarial (gains) / losses arising from changes in experience adjustments | 183.8 | 15,099,700 | (274,900) | (7,263,600) |
Defined benefit pension plan amendment cost/(credit) | 181.9 | 14,950,700 | (2,000) | (1,559,800) |
End of the year | (788.7) | (64,810,800) | (40,719,100) | |
Jaguar Land Rover Pension plan [member] | Present value of defined benefit obligation [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Beginning of the year | 9,101 | 747,837,100 | 849,619,600 | |
Service cost | 96.2 | 7,902,800 | 11,823,100 | |
Interest cost | 250.1 | 20,551,300 | 17,946,000 | |
Remeasurements (gains) / losses | ||||
Actuarial (gains) / losses arising from demographic assumptions | 0.1 | 5,800 | 1,045,600 | |
Actuarial (gains) / losses arising from changes in financial assumptions | (2,777.6) | (228,239,200) | (71,812,300) | |
Actuarial (gains) / losses arising from changes in experience adjustments | 183.8 | 15,099,700 | (274,900) | |
Defined benefit pension plan amendment cost/(credit) | (181.9) | (14,950,700) | 2,000 | |
Benefits paid | (440.4) | (36,191,400) | (51,317,100) | |
Member contributions | 1.5 | 120,100 | 189,400 | |
Premium Paid | 0 | 0 | (225,000) | |
Foreign currency translation | 62.2 | 5,112,500 | (9,159,300) | |
End of the year | 6,295 | 517,248,000 | 747,837,100 | 849,619,600 |
Jaguar Land Rover Pension plan [member] | Plan assets [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Beginning of the year | 9,596.6 | 788,556,200 | 810,714,600 | |
Interest cost | 288.9 | 23,737,600 | 17,333,100 | |
Remeasurements (gains) / losses | ||||
Return on plan assets, (excluding amount included in net Interest expense) | (2,611.3) | (214,573,000) | 927,500 | |
Employer's contributions | 192.9 | 15,848,300 | 24,184,800 | |
Benefits paid | (440.4) | (36,191,400) | (51,317,100) | |
Member contributions | 1.5 | 120,100 | 189,400 | |
Premium Paid | 0 | 0 | (225,000) | |
Expenses paid | (30.7) | (2,519,000) | (2,719,300) | |
Foreign currency translation | 86.2 | 7,080,000 | (10,531,800) | |
End of the year | $ 7,083.7 | ₨ 582,058,800 | ₨ 788,556,200 | ₨ 810,714,600 |
Employee Cost - Summary of Am_4
Employee Cost - Summary of Amount Recognized in the Balance Sheet for Jaguar Land Rover Limited Pension Plan (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of defined benefit plans [line items] | |||
Non -current liabilities | $ (34.1) | ₨ (2,798.6) | ₨ (3,237.4) |
Jaguar Land Rover Pension plan [member] | |||
Disclosure of defined benefit plans [line items] | |||
Present value of defined benefit obligation | 6,295 | 517,248 | 747,837.1 |
Fair value of plan assets | 7,083.7 | 582,058.8 | 788,556.2 |
Net (liability)/Assets | 788.7 | 64,810.8 | 40,719.1 |
Non- current assets | 815.2 | 66,989.2 | 43,169.6 |
Non -current liabilities | (26.5) | (2,178.4) | (2,450.5) |
Net (liability)/Assets | $ 788.7 | ₨ 64,810.8 | ₨ 40,719.1 |
Employee Cost - Summary of Ne_4
Employee Cost - Summary of Net Pension and Post Retirement Cost for Jaguar Land Rover Limited Pension Plan (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of defined benefit plans [line items] | ||||
Defined benefit pension plan amendment cost | $ (181.9) | ₨ (14,950.7) | ₨ 848.1 | |
Jaguar Land Rover Pension plan [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Current service cost | 96.2 | 7,902.8 | ₨ 11,823.1 | 12,715.2 |
Defined benefit pension plan amendment cost | (181.9) | (14,950.7) | 2 | 1,559.8 |
Administrative expenses | 30.7 | 2,519 | 2,719.3 | 2,159.5 |
Net interest cost / (income) (including onerous obligations) | (38.8) | (3,186.3) | 612.9 | (395.9) |
Net periodic pension cost | $ (93.8) | ₨ (7,715.2) | ₨ 15,157.3 | ₨ 16,038.6 |
Employee Cost - Summary of Am_5
Employee Cost - Summary of Amount Recognized in Other Comprehensive Income for Jaguar Land Rover Limited Pension Plan (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Remeasurements (gains) / losses | ||||
Total recognised in other comprehensive income | $ (24.1) | ₨ (1,980) | ₨ 70,834.7 | ₨ (72,858.7) |
Jaguar Land Rover Pension plan [member] | ||||
Remeasurements (gains) / losses | ||||
Actuarial (gains) / losses arising from demographic assumptions | 0.1 | 5.8 | 1,045.6 | (2,035) |
Actuarial (gains) / losses arising from changes in financial assumptions | (2,777.6) | (228,239.2) | (71,812.3) | 84,311.8 |
Actuarial (gains) / losses arising from changes in experience adjustments | 183.8 | 15,099.7 | (274.9) | (7,263.6) |
Return on plan assets, (excluding amount included in net Interest expense) | 2,611.3 | 214,573 | (927.5) | (2,151) |
Total recognised in other comprehensive income | 17.6 | 1,439.3 | (71,969.1) | 72,862.2 |
Total recognized in income statement and statement of other comprehensive income | $ (76.2) | ₨ (6,275.9) | ₨ (56,811.8) | ₨ 88,900.8 |
Employee Cost - Summary of As_4
Employee Cost - Summary of Assumptions Used in Accounting for Jaguar Land Rover Limited Pension Plan (Detail) - Jaguar Land Rover Pension plan [member] - yr | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Disclosure of defined benefit plans [line items] | |||
Discount rate | 4.80% | 2.80% | 2.10% |
Expected rate of increase in benefit revaluation of covered employees | 1.90% | 2.20% | 2.10% |
RPI Inflation rate | 2.90% | 3.50% | 3.10% |
CPI Inflation rate | 1.70% | 0% | 0% |
Retiring today [Member] | Males [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Assumed life expectations on retirement at age 65 are (years) | 21.5 | 21.6 | 21 |
Retiring today [Member] | Females [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Assumed life expectations on retirement at age 65 are (years) | 23.8 | 23.8 | 23.3 |
Retiring in 20 years [Member] | Males [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Assumed life expectations on retirement at age 65 are (years) | 22.9 | 23 | 22.4 |
Retiring in 20 years [Member] | Females [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Assumed life expectations on retirement at age 65 are (years) | 25.7 | 25.7 | 25.2 |
Employee Cost - Summary of Pl_2
Employee Cost - Summary of Plan Assets Allocation by Category for Jaguar Land Rover Limited Pension Plan (Detail) - Jaguar Land Rover Pension plan [member] ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) |
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | ₨ 0 | ₨ 45,217.1 | ||
Debt instruments | 332,215.9 | 428,631.2 | ||
Property funds | 52,753.6 | 54,384.6 | ||
Cash and Cash equivalents | 31,103.3 | 43,537.5 | ||
Other | 160,192.2 | 195,406.7 | ||
Derivatives | 5,793.8 | 21,379.1 | ||
Total | $ 7,083.7 | 582,058.8 | 788,556.2 | |
United Kingdom [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Property funds | 29,375.3 | 30,503.1 | ||
Technology [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 12,661 | ||
Energy [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 1,808.7 | ||
Manufacturing [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 9,495.7 | ||
Financial [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 4,069.6 | ||
Other instruments at fair value asset [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 17,182.1 | ||
Government bonds [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Debt instruments | 151,593.1 | 186,769.3 | ||
Corporate bonds (investment grade) [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Debt instruments | 103,474.4 | 145,122.9 | ||
Corporate bonds (non-investment grade) [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Debt instruments | 77,148.4 | 96,739 | ||
Other [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Property funds | 23,378.3 | 23,881.5 | ||
Hedge funds [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Other | 31,713.2 | 50,268.5 | ||
Private market [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Other | 109,573.1 | 99,244.4 | ||
Alternatives [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Other | 18,905.9 | 45,893.8 | ||
Foreign exchange contracts [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Derivatives | 1,728 | (3,459.9) | ||
Interest Rate and Inflation [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Derivatives | 4,065.8 | 24,839 | ||
Equity Protection Derivatives [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Derivatives | 0 | |||
Level 1 [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | |||
Debt instruments | 264,113.9 | ₨ 294,541.9 | ||
Property funds | 0 | 0 | ||
Cash and Cash equivalents | 5,285.5 | 7,496.5 | ||
Other | 0 | 0 | ||
Derivatives | 0 | 0 | ||
Total | 269,399.4 | 302,038.4 | ||
Level 1 [Member] | United Kingdom [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Property funds | 0 | 0 | ||
Level 1 [Member] | Technology [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | |||
Level 1 [Member] | Energy [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | |||
Level 1 [Member] | Manufacturing [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | |||
Level 1 [Member] | Financial [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | |||
Level 1 [Member] | Other instruments at fair value asset [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | |||
Level 1 [Member] | Government bonds [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Debt instruments | 186,050.7 | 180,264.6 | ||
Level 1 [Member] | Corporate bonds (investment grade) [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Debt instruments | 78,063.2 | ₨ 114,277.3 | ||
Level 1 [Member] | Corporate bonds (non-investment grade) [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Debt instruments | 0 | |||
Level 1 [Member] | Other [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Property funds | 0 | 0 | ||
Level 1 [Member] | Hedge funds [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Other | 0 | 0 | ||
Level 1 [Member] | Private market [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Other | 0 | 0 | ||
Level 1 [Member] | Alternatives [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Other | 0 | 0 | ||
Level 1 [Member] | Foreign exchange contracts [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Derivatives | 0 | 0 | ||
Level 1 [Member] | Interest Rate and Inflation [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Derivatives | 0 | 0 | ||
Level 1 [Member] | Equity Protection Derivatives [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Derivatives | 0 | 0 | ||
Level 2 and 3 of fair value hierarchy [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 45,217.1 | ||
Debt instruments | 68,102 | 134,089.3 | ||
Property funds | 52,753.6 | 54,384.6 | ||
Cash and Cash equivalents | 25,817.8 | 36,041 | ||
Other | 160,192.2 | 195,406.7 | ||
Derivatives | 5,793.8 | 21,379.1 | ||
Total | 312,659.4 | 486,517.8 | ||
Level 2 and 3 of fair value hierarchy [Member] | United Kingdom [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Property funds | 29,375.3 | 30,503.1 | ||
Level 2 and 3 of fair value hierarchy [Member] | Technology [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 12,661 | ||
Level 2 and 3 of fair value hierarchy [Member] | Energy [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 1,808.7 | ||
Level 2 and 3 of fair value hierarchy [Member] | Manufacturing [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 9,495.7 | ||
Level 2 and 3 of fair value hierarchy [Member] | Financial [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 4,069.6 | ||
Level 2 and 3 of fair value hierarchy [Member] | Other instruments at fair value asset [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Equity instruments | 0 | 17,182.1 | ||
Level 2 and 3 of fair value hierarchy [Member] | Government bonds [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Debt instruments | (34,457.6) | 6,504.7 | ||
Level 2 and 3 of fair value hierarchy [Member] | Corporate bonds (investment grade) [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Debt instruments | 25,411.2 | 30,845.6 | ||
Level 2 and 3 of fair value hierarchy [Member] | Corporate bonds (non-investment grade) [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Debt instruments | 77,148.4 | 96,739 | ||
Level 2 and 3 of fair value hierarchy [Member] | Other [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Property funds | 23,378.3 | 23,881.5 | ||
Level 2 and 3 of fair value hierarchy [Member] | Hedge funds [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Other | 31,713.2 | 50,268.5 | ||
Level 2 and 3 of fair value hierarchy [Member] | Private market [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Other | 109,573.1 | 99,244.4 | ||
Level 2 and 3 of fair value hierarchy [Member] | Alternatives [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Other | 18,905.9 | 45,893.8 | ||
Level 2 and 3 of fair value hierarchy [Member] | Foreign exchange contracts [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Derivatives | 1,728 | (3,459.9) | ||
Level 2 and 3 of fair value hierarchy [Member] | Interest Rate and Inflation [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Derivatives | 4,065.8 | ₨ 24,839 | ||
Level 2 and 3 of fair value hierarchy [Member] | Equity Protection Derivatives [Member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Derivatives | ₨ 0 |
Employee Cost - Summary of Se_3
Employee Cost - Summary of Sensitivity Analysis for Jaguar Land Rover Limited Pension Plan (Detail) - Jaguar Land Rover Pension plan [member] ₨ in Millions | 12 Months Ended |
Mar. 31, 2023 INR (₨) | |
Discount rate [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption, increase | 0.25% |
Change in assumption, decrease | 0.25% |
Impact on scheme liabilities, due to increase in assumption | ₨ 19,383.7 |
Impact on scheme liabilities, due to decrease in assumption | (19,383.7) |
Impact on service cost, due to increase in assumption | 294.8 |
Impact on service cost, due to decrease in assumption | ₨ (294.8) |
Actuarial assumption of expected rates of inflation [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption, increase | 0.25% |
Change in assumption, decrease | 0.25% |
Impact on scheme liabilities, due to increase in assumption | ₨ 10,581.2 |
Impact on scheme liabilities, due to decrease in assumption | (10,581.2) |
Impact on service cost, due to increase in assumption | 162.6 |
Impact on service cost, due to decrease in assumption | ₨ (162.6) |
Mortality rates [Member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Change in assumption, increase | 1 year |
Change in assumption, decrease | 1 year |
Impact on scheme liabilities, due to increase in assumption | ₨ 14,738.5 |
Impact on scheme liabilities, due to decrease in assumption | (14,738.5) |
Impact on service cost, due to increase in assumption | 142.3 |
Impact on service cost, due to decrease in assumption | ₨ (142.3) |
Other Expenses - Summary of Oth
Other Expenses - Summary of Other Expenses (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Expenses by nature [abstract] | ||||
Stores, spare parts and tools consumed | $ 195.9 | ₨ 16,096.3 | ₨ 14,460.9 | ₨ 12,790.5 |
Freight and transportation expenses | 918.5 | 75,476.4 | 62,779.6 | 57,157.9 |
Research and product development cost | 1,297.5 | 106,619.6 | 92,095 | 52,266.2 |
Warranty and product liability expenses | 1,277.5 | 104,973.3 | 88,416.3 | 76,819.4 |
Allowance for trade and other receivables, and finance receivables | 253.9 | 20,860.1 | 14,265.9 | 9,786.3 |
Works operation and other expenses | 3,270.5 | 268,729.6 | 213,833.9 | 189,460.4 |
Repairs to building and plant and machinery | 81.3 | 6,681.5 | 4,998.1 | 4,282.3 |
Processing charges | 217.3 | 17,858.5 | 14,064.8 | 9,656.7 |
Power and fuel | 305.9 | 25,133.3 | 21,782.9 | 11,128.7 |
Insurance | 53.8 | 4,418.5 | 4,157.7 | 3,362.4 |
Publicity | 734.5 | 60,353.8 | 48,636.5 | 43,846.3 |
Total | $ 8,606.6 | ₨ 707,200.9 | ₨ 579,491.6 | ₨ 470,557.1 |
Other Income_(Loss) (Net) - Sum
Other Income/(Loss) (Net) - Summary of Other Income/(Loss) (Net) (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure Of Other Income Loss[abstract] | ||||
Miscellaneous income | $ 215.5 | ₨ 17,710.8 | ₨ 17,624.3 | ₨ 13,916.1 |
Incentives | 274.4 | 22,540.3 | 13,383 | 12,475.7 |
Gain / (Loss) on change in fair value of commodity derivatives | (172.2) | (14,148.3) | 13,705.7 | 13,820.9 |
Dividend income from investments measured at FVTOCI | 5.6 | 464.2 | 342.2 | 183.7 |
Profit on sale of investments measured at FVTPL | 37.1 | 3,048.8 | 2,137 | 1,772.6 |
Fair value gain/(loss) on investments measured at FVTPL | 11.4 | 932.7 | 528.6 | 199.1 |
Total | $ 371.8 | ₨ 30,548.5 | ₨ 47,720.8 | ₨ 42,368.1 |
Interest Expense - Summary of I
Interest Expense - Summary of Interest Expense (Net) (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Interest costs [abstract] | ||||
Gross interest expense | $ 1,282.4 | ₨ 105,375.1 | ₨ 99,000.2 | ₨ 92,333.4 |
Less: Interest capitalized | (36.3) | (2,982.8) | (5,737.1) | (11,492.9) |
Total | $ 1,246.1 | ₨ 102,392.3 | ₨ 93,263.1 | ₨ 80,840.5 |
Interest Expense - Additional I
Interest Expense - Additional Information (Detail) | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Interest costs [abstract] | |||
Weighted average rate for capitalization of interest relating to general borrowings | 5.80% | 5.20% | 5.30% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - INR (₨) ₨ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Commitments and contingencies [line items] | ||
Various contracts with vendors and contractors for the acquisition of plant and machinery, equipment and various civil contracts of a capital nature | ₨ 71,566.5 | ₨ 88,475 |
Various contracts with vendors and contractors for the acquisition of intangible assets of a capital nature | 5,911.9 | 3,358 |
Committed to contribute under the joint venture agreement | 18,241.3 | 18,229.8 |
Income tax contingent liability [member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 7,918.2 | 9,760 |
Income tax contingent liability [member] | Investments accounted for using equity method [member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 91.3 | 72 |
Customs, excise duty and service tax contingent liability [member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 4,540.3 | 6,809 |
Customs, excise duty and service tax contingent liability [member] | Investments accounted for using equity method [member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 40.2 | 41 |
Customs, excise duty and service tax demands for more [member] | ||
Commitments and contingencies [line items] | ||
Threshold amount of major contingency cases | 1,000 | |
Other taxes and dues contingent liability [member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 4,028.8 | 2,552 |
Other taxes and dues contingent liability [member] | Investments accounted for using equity method [member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 16 | 13 |
Sales tax contingent liability [Member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 11,066.5 | 13,981 |
Sales tax contingent liability [Member] | Investments accounted for using equity method [member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 105.5 | 108 |
Sales tax demands for more [Member] | ||
Commitments and contingencies [line items] | ||
Threshold amount of major contingency cases | 1,000 | |
Sales Tax Authorities raised demand towards rejection of certain statutory forms for concessional lower/nil tax rate [Member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 2,310.9 | 3,240 |
Sales Tax Authorities denied input tax credit and levied interest and penalty thereon due to varied reasons [Member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 2,674.9 | 2,836 |
Sales tax authorities have raised demand for entry tax liability at various states [member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | 3,094.7 | 5,014 |
Local municipal authorities demand for property tax [member] | ||
Commitments and contingencies [line items] | ||
Estimated effect of contingency | ₨ 1,505.8 | ₨ 1,001 |
Capital Management - Summary of
Capital Management - Summary of Capital (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) |
Total equity as reported in balance sheet | $ 5,833.7 | ₨ 479,355.5 | ₨ 440,564.6 | ₨ 519,135.8 | ₨ 598,034.7 |
Currency translation reserve | 1,176 | 96,628.6 | 88,560.6 | 89,692 | |
Hedging reserve | 862.9 | 70,905.2 | 59,799 | ||
Cost of hedge reserve | 122.8 | 10,088.2 | (864.3) | ||
Equity as reported above | 5,637.7 | 463,254.4 | 410,673.3 | ||
Short-term borrowings and current portion of long-term debt | 4,498.3 | 369,646.6 | 419,178.7 | ||
Long-term debt | 10,792.9 | 886,850 | 977,483.5 | ||
Total debt | 15,291.2 | 1,256,496.6 | 1,396,662.2 | 1,358,937.1 | |
Total capital (Debt + Equity) | 20,928.9 | 1,719,751 | 1,807,335.5 | ||
Equity attributable to shareholders of Tata Motors Limited [Member] | |||||
Total equity as reported in balance sheet | 4,946.8 | 406,480.4 | 397,756 | 503,302.9 | 589,801.2 |
Currency translation reserve | (1,176) | (96,628.6) | (88,560.6) | ||
Non-controlling interests [Member] | |||||
Total equity as reported in balance sheet | 886.9 | 72,875.1 | 42,808.6 | ₨ 15,832.9 | ₨ 8,233.5 |
Currency translation reserve | $ (5.7) | ₨ (465.9) | ₨ (265.4) |
Financial Instruments - Summary
Financial Instruments - Summary of Carrying Amounts and Fair Value of Each Category of Financial Assets and Liabilities (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2020 INR (₨) |
Financial assets | ||||||
Cash and cash equivalents | $ 3,880.6 | ₨ 318,869.5 | $ 4,643.9 | ₨ 381,590.1 | ₨ 317,000.1 | ₨ 184,678 |
Short-term deposits | 546.1 | 44,870.9 | 20,375.8 | |||
Finance receivables | 3,752.5 | 308,337.3 | 332,312.1 | |||
Trade receivables | 1,915.3 | 157,379.7 | 124,421.2 | |||
Other investments - non-current | 348.7 | 28,651.9 | 23,209.2 | |||
Other investments - current | 2,292.6 | 188,383 | 227,092.2 | |||
Other financial assets: | ||||||
- current | 697.5 | 57,310.7 | 59,443.5 | |||
- non-current | 961.2 | 78,983.1 | 60,228.4 | |||
Financial assets not measured at fair value | 14,394.5 | 1,182,786.1 | 1,228,672.5 | |||
Financial liabilities | ||||||
Accounts payable | 9,253.9 | 760,389.7 | 649,452.8 | |||
Acceptances | 875.7 | 71,960.1 | 97,799.5 | |||
Short-term debt (excluding current portion of long-term debt) | 1,711.9 | 140,668.3 | 173,783.7 | |||
Long-term debt (including current portion of long-term debt) (refer note below) | 13,579.5 | 1,115,828.3 | 1,222,878.4 | |||
Other financial liabilities: | ||||||
- current | 1,308.6 | 107,528.6 | 102,549.4 | |||
- non-current | 1,934 | 158,916 | 112,968.6 | |||
Financial liabilities not measured at fair value | 28,663.6 | 2,355,291 | 2,359,432.4 | |||
Measured at fair value [Member] | ||||||
Financial assets | ||||||
Cash and cash equivalents | 3,880.6 | 318,869.5 | 381,590.1 | |||
Short-term deposits | 546.1 | 44,870.9 | 20,375.8 | |||
Finance receivables | 3,764.8 | 309,352.8 | 334,954.9 | |||
Trade receivables | 1,915.3 | 157,379.7 | 124,421.2 | |||
Other investments - non-current | 348.7 | 28,651.9 | 23,209.2 | |||
Other investments - current | 2,292.6 | 188,383 | 227,092.2 | |||
Other financial assets: | ||||||
- current | 697.5 | 57,310.7 | 59,443.5 | |||
- non-current | 961.2 | 78,983.1 | 60,228.4 | |||
Financial assets not measured at fair value | 14,406.8 | 1,183,801.6 | 1,231,315.3 | |||
Financial liabilities | ||||||
Accounts payable | 9,253.9 | 760,389.7 | 649,452.8 | |||
Acceptances | 875.7 | 71,960.1 | 97,799.5 | |||
Short-term debt (excluding current portion of long-term debt) | 1,711.9 | 140,668.3 | 173,783.7 | |||
Long-term debt (including current portion of long-term debt) (refer note below) | 13,263.7 | 1,089,877.7 | 1,223,740.8 | |||
Other financial liabilities: | ||||||
- current | 1,308.6 | 107,528.6 | 102,549.4 | |||
- non-current | 1,934 | 158,916 | 115,880.1 | |||
Financial liabilities not measured at fair value | $ 28,347.8 | 2,329,340.4 | 2,363,206.2 | |||
Cash and other financial assets at amortized cost [member] | ||||||
Financial assets | ||||||
Cash and cash equivalents | 318,869.5 | 381,590.1 | ||||
Short-term deposits | 44,870.9 | 20,375.8 | ||||
Finance receivables | 138,098.9 | 191,409.2 | ||||
Trade receivables | 157,379.7 | 124,421.2 | ||||
Other investments - non-current | 10,760 | 5,426.1 | ||||
Other investments - current | 147,618.2 | 169,051 | ||||
Other financial assets: | ||||||
- current | 45,735.8 | 40,258.6 | ||||
- non-current | 52,123 | 40,052.5 | ||||
Financial assets not measured at fair value | 915,456 | 972,584.5 | ||||
Non-Derivative Financial Assets At Fair Value [member] | ||||||
Financial assets | ||||||
Cash and cash equivalents | 0 | |||||
Short-term deposits | 0 | |||||
Finance receivables | 170,238.4 | 140,902.9 | ||||
Trade receivables | 0 | |||||
Other investments - non-current | 17,891.9 | 17,783.1 | ||||
Other investments - current | 40,764.8 | 58,041.2 | ||||
Other financial assets: | ||||||
- current | 0 | |||||
- non-current | 0 | |||||
Financial assets not measured at fair value | 228,895.1 | 216,727.2 | ||||
Derivatives other than in hedging relationship [Member] | ||||||
Financial assets | ||||||
Cash and cash equivalents | 0 | |||||
Short-term deposits | 0 | |||||
Finance receivables | 0 | |||||
Trade receivables | 0 | |||||
Other investments - non-current | 0 | |||||
Other investments - current | 0 | |||||
Other financial assets: | ||||||
- current | 6,793.1 | 13,334.3 | ||||
- non-current | 10,378.4 | 12,229.9 | ||||
Financial assets not measured at fair value | 17,171.5 | 25,564.2 | ||||
Financial liabilities | ||||||
Accounts payable | 0 | |||||
Acceptances | 0 | |||||
Short-term debt (excluding current portion of long-term debt) | 0 | |||||
Long-term debt (including current portion of long-term debt) (refer note below) | 0 | |||||
Other financial liabilities: | ||||||
- current | 5,974.3 | 3,060 | ||||
- non-current | 5,808.2 | 5,297.4 | ||||
Financial liabilities not measured at fair value | 11,782.5 | 8,357.4 | ||||
Derivatives in hedging relationship [Member] | ||||||
Financial assets | ||||||
Cash and cash equivalents | 0 | |||||
Short-term deposits | 0 | |||||
Finance receivables | 0 | |||||
Trade receivables | 0 | |||||
Other investments - non-current | 0 | |||||
Other investments - current | 0 | |||||
Other financial assets: | ||||||
- current | 4,781.8 | 5,850.6 | ||||
- non-current | 16,481.7 | 7,946 | ||||
Financial assets not measured at fair value | 21,263.5 | 13,796.6 | ||||
Financial liabilities | ||||||
Accounts payable | 0 | |||||
Acceptances | 0 | |||||
Short-term debt (excluding current portion of long-term debt) | 0 | |||||
Long-term debt (including current portion of long-term debt) (refer note below) | 0 | |||||
Other financial liabilities: | ||||||
- current | 37,848 | 41,374.2 | ||||
- non-current | 48,032.8 | 28,858 | ||||
Financial liabilities not measured at fair value | 85,880.8 | 70,232.2 | ||||
Other financial liabilities (at amortized cost) | ||||||
Financial liabilities | ||||||
Accounts payable | 760,389.7 | 649,452.8 | ||||
Acceptances | 71,960.1 | 97,799.5 | ||||
Short-term debt (excluding current portion of long-term debt) | 140,668.3 | 173,783.7 | ||||
Long-term debt (including current portion of long-term debt) (refer note below) | 1,115,828.3 | 1,222,878.4 | ||||
Other financial liabilities: | ||||||
- current | 63,706.3 | 58,115.2 | ||||
- non-current | 80,075 | 66,313.2 | ||||
Financial liabilities not measured at fair value | 2,232,627.7 | 2,268,342.8 | ||||
Other Financial Liabilities at Fair Value [Member] | ||||||
Other financial liabilities: | ||||||
- non-current | 25,000 | 12,500 | ||||
Financial liabilities not measured at fair value | ₨ 25,000 | ₨ 12,500 |
Financial Instruments - Summa_2
Financial Instruments - Summary of Carrying Amounts and Fair Value of Each Category of Financial Assets and Liabilities (Parenthetical) (Detail) - Designated hedges [member] ₨ in Millions, £ in Millions | 12 Months Ended | |||
Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2023 GBP (£) | Mar. 31, 2022 GBP (£) | |
Disclosure of detailed information about financial instruments [line items] | ||||
Financial instrument designated as hedging instruments in net investment hedge relationship | ₨ 109,166.5 | ₨ 91,833 | £ 1,074 | £ 924 |
Interest rate risk [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Loss on fair value changes attributable to hedged interest rate risk | 6,488.9 | 6,780.5 | ||
Derivatives in hedging relationship [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities designated as hedged in fair value hedge relationship | ₨ 77,575.7 | ₨ 74,735.6 |
Financial Instruments - Summa_3
Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | ₨ 267,330.1 | $ 3,253.3 | ₨ 256,088 |
Financial liabilities measured at fair value | 122,663.3 | 1,492.8 | 91,089.6 |
Level 1 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 47,341.7 | 576.1 | 65,555.3 |
Financial liabilities measured at fair value | 0 | 0 | |
Level 2 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 38,435 | 467.7 | 39,360.8 |
Financial liabilities measured at fair value | 97,663.3 | 1,188.6 | 78,589.6 |
Level 3 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 181,553.4 | 2,209.5 | 151,171.9 |
Financial liabilities measured at fair value | 25,000 | $ 304.2 | 12,500 |
Derivative financial instruments [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 38,435 | 39,360.8 | |
Financial liabilities measured at fair value | 97,663.3 | 78,589.6 | |
Derivative financial instruments [Member] | Level 1 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 0 | ||
Financial liabilities measured at fair value | 0 | ||
Derivative financial instruments [Member] | Level 2 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 38,435 | 39,360.8 | |
Financial liabilities measured at fair value | 97,663.3 | 78,589.6 | |
Derivative financial instruments [Member] | Level 3 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 0 | ||
Financial liabilities measured at fair value | 0 | ||
Investments [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 58,656.7 | 75,824.3 | |
Investments [Member] | Level 1 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 47,341.7 | 65,555.3 | |
Investments [Member] | Level 2 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 0 | ||
Investments [Member] | Level 3 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 11,315 | 10,269 | |
Finance Receivables [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 170,238.4 | 140,902.9 | |
Finance Receivables [Member] | Level 1 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 0 | ||
Finance Receivables [Member] | Level 2 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 0 | ||
Finance Receivables [Member] | Level 3 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial assets measured at fair value | 170,238.4 | 140,902.9 | |
Financial Liabilities [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities measured at fair value | 25,000 | 12,500 | |
Financial Liabilities [Member] | Level 1 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities measured at fair value | 0 | ||
Financial Liabilities [Member] | Level 2 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities measured at fair value | 0 | ₨ 0 | |
Financial Liabilities [Member] | Level 3 [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Financial liabilities measured at fair value | ₨ 25,000 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 USD ($) | |
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, transfers from Level 2 into Level 1 | ₨ 0 | ₨ 0 | ||
Description of periods when cash flows expected to occur | March 31, 2024 to 2026 | |||
Financial liability | ₨ 2,355,291 | 2,359,432.4 | $ 28,663.6 | |
Maximum exposure to credit risk | ₨ 1,157,370.1 | 1,219,374.6 | ||
Percentage of non-convertible debentures invested in bank deposits | 15% | |||
Commodity derivatives [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Gain (loss) on commodity derivative contracts | ₨ 14,148.3 | 13,705.7 | ₨ 13,820.9 | |
Foreign Currency Derivatives [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Gain (loss) on commodity derivative contracts | ₨ 2,313.9 | ₨ 2,773.2 | ₨ 8,407.4 | |
Variable interest rate [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Percentage of risk sensitivity | 10% | 10% | 10% | 10% |
Gain loss on recognized in profit or loss due to ten percent depreciation of Commodity Prices [member] | Commodity derivatives [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Gain (loss) on commodity derivative contracts | ₨ 5,714.1 | ₨ 5,924.1 | ₨ 3,978.7 | |
Quoted equity shares through other comprehensive and AFS [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Potential risk amount due to change risk | ₨ 6,433.1 | 8,029.1 | 4,993.7 | |
Interest rate risk [member] | Variable interest rate [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Percentage of risk sensitivity | 100% | 100% | ||
Financial liability | ₨ 480,769.4 | 516,114 | 465,893.8 | |
Interest rate risk [member] | Profit and loss [member] | Variable interest rate [member] | Financial liabilities, class [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Potential risk amount due to change risk | ₨ 4,807.7 | ₨ 5,161.1 | ₨ 4,658.9 | |
Equity price risk [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Percentage of risk sensitivity | 10% | 10% | 10% | 10% |
Equity price risk [Member] | Quoted equity shares through other comprehensive and AFS [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Potential risk amount due to change risk | ₨ 643.3 | ₨ 802.9 | ₨ 499.4 |
Financial Instruments - Summa_4
Financial Instruments - Summary of Reconciliation of Financial Assets Measured At Fair Value Using Significant Unobservable Inputs (Detail) - Level 3 [Member] ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | |
Disclosure of detailed information about financial instruments [line items] | |||
Balance at the beginning | $ 1,839.7 | ₨ 151,171.9 | ₨ 88,578 |
Originated or purchased during the period | 857.5 | 70,464 | 101,887.9 |
Interest accrued on loans measured at FVOCI | (4.7) | (385.3) | 398.8 |
Disposals during the period | (460.2) | (37,813.4) | (40,748.7) |
Loan loss provision recognised | (18.5) | (1,518.6) | (1,383.9) |
Fair value changes recognized through OCI | (10.1) | (832.7) | 2,122 |
Fair value changes recognized through P & L | 5.5 | 453.9 | 209.1 |
Foreign exchange translation difference | 0.2 | 13.6 | 108.7 |
Balance at the end | $ 2,209.4 | ₨ 181,553.4 | ₨ 151,171.9 |
Financial Instruments - Summa_5
Financial Instruments - Summary of Fair Value of Financial Instruments Not Measured at Fair Value on Recurring Basis (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Financial assets not measured at fair value | |||
Finance receivables | $ 3,752.5 | ₨ 308,337.3 | ₨ 332,312.1 |
Financial assets not measured at fair value | 14,394.5 | 1,182,786.1 | 1,228,672.5 |
Financial liabilities not measured at fair value | |||
Short-term debt (excluding current portion of long-term debt) | 1,711.9 | 140,668.3 | 173,783.7 |
Long-term debt (including current portion of long-term debt) | 13,579.5 | 1,115,828.3 | 1,222,878.4 |
Financial liabilities not measured at fair value | 28,663.6 | 2,355,291 | 2,359,432.4 |
Not measured at fair value on recurring basis [Member] | |||
Financial assets not measured at fair value | |||
Finance receivables | 139,114.4 | 194,052 | |
Other investments | 158,378.2 | 174,477.1 | |
Financial assets not measured at fair value | 3,620.4 | 297,492.6 | 368,529.1 |
Financial liabilities not measured at fair value | |||
Short-term debt (excluding current portion of long-term debt) | 140,668.2 | 173,783.8 | |
Long-term debt (including current portion of long-term debt) | 1,089,877.7 | 1,223,740.8 | |
Financial liabilities not measured at fair value | 14,975.7 | 1,230,546 | 1,397,524.6 |
Not measured at fair value on recurring basis [Member] | Level 1 [Member] | |||
Financial assets not measured at fair value | |||
Other investments | 158,378.2 | 174,477.1 | |
Financial assets not measured at fair value | 1,927.4 | 158,378.2 | 174,477.1 |
Financial liabilities not measured at fair value | |||
Long-term debt (including current portion of long-term debt) | 424,038.7 | 571,882.4 | |
Financial liabilities not measured at fair value | 5,160.5 | 424,038.7 | 571,882.4 |
Not measured at fair value on recurring basis [Member] | Level 2 [Member] | |||
Financial liabilities not measured at fair value | |||
Short-term debt (excluding current portion of long-term debt) | 140,668.2 | 173,783.8 | |
Long-term debt (including current portion of long-term debt) | 665,839 | 651,858.4 | |
Financial liabilities not measured at fair value | 9,815.2 | 806,507.3 | 825,642.2 |
Not measured at fair value on recurring basis [Member] | Level 3 [Member] | |||
Financial assets not measured at fair value | |||
Finance receivables | 139,114.4 | 194,052 | |
Financial assets not measured at fair value | $ 1,693 | ₨ 139,114.4 | ₨ 194,052 |
Financial Instruments - Summa_6
Financial Instruments - Summary of Amounts that have been Offset and Amounts that are Available for Offset (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | |||
Gross amount recognized, Financial assets | ₨ 542,843.7 | $ 6,606.3 | ₨ 561,097.4 |
Gross amount recognized as set off in the balance sheet, Financial assets | (28,159.5) | (342.7) | (15,725.3) |
Net amount presented in the balance sheet, Financial assets | 514,684.2 | 6,263.7 | 545,372.1 |
Amounts subject to an enforceable master netting arrangement, Financial instruments, Financial assets | (20,555.7) | (250.2) | (28,168.9) |
Net amount after offsetting, Financial assets | 494,128.5 | 6,013.5 | 517,203.2 |
Gross amount recognized, Financial liabilities | 977,934.6 | 11,901.4 | 856,569.7 |
Gross amount recognized as set off in the balance sheet, Financial liabilities | (28,159.5) | (342.7) | (15,725.3) |
Gross amount recognized as set off in the balance sheet, Financial liabilities | 949,775.1 | 11,558.7 | 840,844.4 |
Amounts subject to an enforceable master netting arrangement, Financial instruments, Financial liabilities | (20,555.7) | (250.2) | (28,168.9) |
Net amount after offsetting, Financial liabilities | 929,219.4 | $ 11,308.5 | 812,675.5 |
Derivative financial instruments [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross amount recognized, Financial assets | 38,435 | 39,360.8 | |
Net amount presented in the balance sheet, Financial assets | 38,435 | 39,360.8 | |
Amounts subject to an enforceable master netting arrangement, Financial instruments, Financial assets | (20,555.7) | (28,168.9) | |
Net amount after offsetting, Financial assets | 17,879.3 | 11,191.9 | |
Gross amount recognized, Financial liabilities | 97,663.3 | 78,589.6 | |
Gross amount recognized as set off in the balance sheet, Financial liabilities | 97,663.3 | 78,589.6 | |
Amounts subject to an enforceable master netting arrangement, Financial instruments, Financial liabilities | (20,555.7) | (28,168.9) | |
Net amount after offsetting, Financial liabilities | 77,107.6 | 50,420.7 | |
Trade receivables [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross amount recognized, Financial assets | 161,552 | 124,437.6 | |
Gross amount recognized as set off in the balance sheet, Financial assets | (4,172.3) | (16.4) | |
Net amount presented in the balance sheet, Financial assets | 157,379.7 | 124,421.2 | |
Net amount after offsetting, Financial assets | 157,379.7 | 124,421.2 | |
Cash and cash equivalent [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross amount recognized, Financial assets | 342,856.7 | 397,299 | |
Gross amount recognized as set off in the balance sheet, Financial assets | (23,987.2) | (15,708.9) | |
Net amount presented in the balance sheet, Financial assets | 318,869.5 | 381,590.1 | |
Net amount after offsetting, Financial assets | 318,869.5 | 381,590.1 | |
Accounts payable [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross amount recognized, Financial liabilities | 764,562 | 649,469.2 | |
Gross amount recognized as set off in the balance sheet, Financial liabilities | (4,172.3) | (16.4) | |
Gross amount recognized as set off in the balance sheet, Financial liabilities | 760,389.7 | 649,452.8 | |
Net amount after offsetting, Financial liabilities | 760,389.7 | 649,452.8 | |
Loans from banks/financial institutions (short-term) [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross amount recognized, Financial liabilities | 115,709.3 | 128,510.9 | |
Gross amount recognized as set off in the balance sheet, Financial liabilities | (23,987.2) | (15,708.9) | |
Gross amount recognized as set off in the balance sheet, Financial liabilities | 91,722.1 | 112,802 | |
Net amount after offsetting, Financial liabilities | ₨ 91,722.1 | ₨ 112,802 |
Financial Instruments - Summa_7
Financial Instruments - Summary of Carrying Amount of Trade Receivables and Finance Receivables Sold Along with Associated Liabilities (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2023 USD ($) | |
Disclosure of detailed information about financial instruments [line items] | |||
Provision | ₨ 26 | ₨ 239.5 | |
Trade receivables [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying amount of asset transferred | 318 | ||
Carrying amount of associated liabilities | 318 | ||
Finance receivables [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying amount of asset transferred | 1,069.1 | 12,464.8 | $ 13 |
Carrying amount of associated liabilities | ₨ 748.7 | ₨ 11,817.2 | $ 9.1 |
Financial Instruments - Summa_8
Financial Instruments - Summary of Gain (Loss) from Cash Flow Hedges Recognized in Other Comprehensive Income and Income Statement (Detail) ₨ in Thousands, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Gain/(loss) recognized in Hedging reserve and cost of hedge reserve | $ (889.8) | ₨ (73,111,800) | ₨ (82,654,900) | ₨ 44,248,700 |
Gain/(loss) reclassified from Hedging reserve to the income statement | (779.9) | (64,065,000) | 8,093,100 | (10,201,300) |
Revenue [Member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Gain/(loss) reclassified from Hedging reserve to the income statement | (711.7) | (58,483,800) | 7,626,500 | (10,540,100) |
Raw materials, components and consumables [Member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Gain/(loss) reclassified from Hedging reserve to the income statement | (53.9) | (4,429,100) | (1,533,300) | |
Foreign exchange (gain)/loss (net) [Member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Gain/(loss) reclassified from Hedging reserve to the income statement | (14.3) | (1,177,700) | 1,051,000 | 3,320,100 |
Gain/(loss) reclassified from Cost of Hedging reserve | 0 | (583,900) | (1,448,000) | |
Cost Foreign Exchange Gain Loss Net [Member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Gain/(loss) reclassified from Hedging reserve to the income statement | 0 | 25,600 | (500) | |
Foreign currency derivative contracts [Member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Gain/(loss) recognized in Hedging reserve and cost of hedge reserve | (961.4) | (78,995,000) | (78,778,300) | 65,674,300 |
Foreign currency bonds [Member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Gain/(loss) recognized in Hedging reserve and cost of hedge reserve | 65.4 | 5,373,600 | (3,824,100) | (21,527,600) |
Cross-Currency Interest Rate Swaps [Member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Gain/(loss) recognized in Hedging reserve and cost of hedge reserve | 6.2 | 509,600 | ₨ (52,500) | 294,100 |
Interest rate swaps [Member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Gain/(loss) recognized in Hedging reserve and cost of hedge reserve | $ 0 | ₨ 0 | ₨ (192,100) |
Financial Instruments - Summa_9
Financial Instruments - Summary of Effect of Changes in Foreign Exchange Rates (Detail) - Foreign currency exchange rate risk [member] - Profit and loss [member] - INR (₨) ₨ in Millions | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Appreciation in foreign currencies by 10% [member] | Financial assets, class [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Effect of changes in foreign exchange rates | ₨ 40,672.1 | ₨ 35,265.7 | ₨ 36,873.3 |
Appreciation in foreign currencies by 10% [member] | Financial liabilities, class [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Effect of changes in foreign exchange rates | (116,548.2) | (102,136.4) | (113,312.3) |
Depreciation in foreign currencies by 10% [member] | Financial assets, class [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Effect of changes in foreign exchange rates | (40,672.1) | (35,265.7) | (36,873.3) |
Depreciation in foreign currencies by 10% [member] | Financial liabilities, class [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Effect of changes in foreign exchange rates | ₨ 116,548.2 | ₨ 102,136.4 | ₨ 113,312.3 |
Financial Instruments - Summ_10
Financial Instruments - Summary of Foreign Currency Exposure (Detail) ₨ in Thousands, $ in Millions | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets | ₨ 1,182,786,100 | $ 14,394.5 | ₨ 1,228,672,500 | |
Financial liabilities | 2,355,291,000 | $ 28,663.6 | 2,359,432,400 | |
Foreign currency exchange rate risk [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets | 406,720,500 | 352,656,900 | ₨ 368,732,800 | |
Financial liabilities | 1,165,482,500 | 1,021,364,100 | 1,133,122,800 | |
Foreign currency exchange rate risk [member] | U.S. dollar [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets | 164,872,400 | 168,327,400 | 181,174,900 | |
Financial liabilities | 473,803,500 | 452,541,900 | 480,423,300 | |
Foreign currency exchange rate risk [member] | Euro [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets | 127,209,700 | 103,507,900 | 113,988,000 | |
Financial liabilities | 485,246,500 | 421,914,300 | 433,444,100 | |
Foreign currency exchange rate risk [member] | Chinese Renminbi [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets | 53,406,100 | 39,109,400 | 34,468,800 | |
Financial liabilities | 119,828,500 | 114,459,100 | 120,331,700 | |
Foreign currency exchange rate risk [member] | United Kingdom, Pounds | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets | 14,954,700 | 1,442,600 | 7,817,400 | |
Financial liabilities | 48,359,900 | 5,198,100 | 56,714,000 | |
Foreign currency exchange rate risk [member] | Canada, Dollars | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets | 9,182,100 | 11,908,400 | ||
Financial liabilities | 3,530,100 | 2,714,200 | ||
Foreign currency exchange rate risk [member] | Japanese Yen [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets | 4,761,500 | |||
Financial liabilities | 13,253,500 | |||
Foreign currency exchange rate risk [member] | Other currencies [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets | 37,095,500 | 28,361,200 | 26,522,200 | |
Financial liabilities | ₨ 34,714,000 | ₨ 24,536,500 | ₨ 28,956,200 |
Financial Instruments - Summ_11
Financial Instruments - Summary of aging of Trade and Finance Receivables (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | $ 1,915.3 | ₨ 157,379.7 | ₨ 124,421.2 |
Finance receivables | 3,752.5 | 308,337.3 | 332,312.1 |
Allowance for credit losses [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | (99.9) | (8,212.5) | (8,515.7) |
Finance receivables | (232.2) | (19,077.1) | (18,074.3) |
Not due [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 1,724.8 | 141,732.8 | 102,445.8 |
Finance receivables | 3,545 | 291,289.7 | 318,963.4 |
Not due [Member] | Allowance for credit losses [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | (14.7) | (1,210.7) | (509.5) |
Finance receivables | (136) | (11,171.6) | (12,223.3) |
Overdue up to 3 months [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 53.6 | 4,401 | 13,153 |
Finance receivables | 57.5 | 4,722.4 | 5,302.2 |
Overdue up to 3 months [Member] | Allowance for credit losses [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | (0.1) | (9) | (347.4) |
Finance receivables | (2.3) | (187.8) | (160.8) |
Overdue 3-6 months [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 36.4 | 2,990.9 | 1,905.3 |
Overdue 3-6 months [Member] | Allowance for credit losses [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | (2.6) | (213.6) | (161.9) |
Overdue more than 6 months [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 100.5 | 8,255 | 6,917.1 |
Overdue more than 6 months [Member] | Allowance for credit losses [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | (82.5) | (6,779.2) | (7,496.9) |
Overdue more than 6 months [Member] | Trade receivables [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables overdue more than six months, considered recoverable | 5,741 | 5,144.8 | |
Later than three months [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Finance receivables | 150 | 12,325.2 | 8,046.5 |
Later than three months [member] | Allowance for credit losses [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Finance receivables | (93.9) | (7,717.7) | (5,690.2) |
Cost [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 2,015.2 | 165,592.2 | 132,936.9 |
Finance receivables | 3,984.7 | 327,414.4 | 350,386.4 |
Cost [Member] | Not due [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 1,739.5 | 142,943.5 | 102,955.3 |
Finance receivables | 3,681 | 302,461.3 | 331,186.7 |
Cost [Member] | Overdue up to 3 months [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 53.7 | 4,410 | 13,500.4 |
Finance receivables | 59.8 | 4,910.2 | 5,463 |
Cost [Member] | Overdue 3-6 months [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 39 | 3,204.5 | 2,067.2 |
Cost [Member] | Overdue more than 6 months [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 183 | 15,034.2 | 14,414 |
Cost [Member] | Later than three months [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Finance receivables | $ 243.9 | ₨ 20,042.9 | ₨ 13,736.7 |
Financial Instruments - Summ_12
Financial Instruments - Summary of Contractual Maturities of Financial Liabilities (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of maturity analysis for financial liabilities [line items] | |||
Accounts payable and acceptances, carrying amount | ₨ 832,349.8 | ₨ 747,252.3 | |
Borrowings and interest thereon, carrying amount | 1,273,261.5 | 1,414,130.2 | |
Lease liabilities | 84,529.7 | 67,719.8 | |
Other financial liabilities, carrying amount | 67,486.7 | 51,740.5 | |
Derivative liabilities, carrying amount | 97,663.3 | 78,589.6 | |
Financial liabilities not measured at fair value | $ 28,663.6 | 2,355,291 | 2,359,432.4 |
Accounts payable and acceptances, contractual cash flows | 10,129.6 | 832,349.8 | 747,252.3 |
Borrowings and interest thereon, contractual cash flows | 16,920.3 | 1,390,343.8 | 1,538,821.2 |
Lease liabilities contractual cash flows | 1,681.3 | 138,150.8 | 109,287.4 |
Other financial liabilities, contractual cash flows | 1,099.7 | 90,364 | 74,986.9 |
Derivative liabilities, contractual cash flows | 987.7 | 81,162.2 | 107,095.9 |
Total, contractual cash flows | 30,818.6 | 2,532,370.6 | 2,577,443.7 |
Collateralized debt obligations, carrying amount | 9.1 | 748.7 | 11,825.4 |
Collateralized debt obligations, contractual cash flows | $ 9.4 | 769.2 | 12,563.9 |
Later than one year and not later than two years [Member] | |||
Disclosure of maturity analysis for financial liabilities [line items] | |||
Accounts payable and acceptances, carrying amount | 832,349.8 | 747,252.3 | |
Borrowings and interest thereon, carrying amount | 386,411.5 | 436,646.7 | |
Lease liabilities | 14,801.2 | 13,161.3 | |
Other financial liabilities, carrying amount | 41,780.6 | 32,551.8 | |
Derivative liabilities, carrying amount | 47,259.4 | 50,876.4 | |
Financial liabilities not measured at fair value | 1,322,602.5 | 1,280,488.5 | |
Collateralized debt obligations, carrying amount | 769.2 | 9,117.5 | |
Later than two years and not later than three years [Member] | |||
Disclosure of maturity analysis for financial liabilities [line items] | |||
Accounts payable and acceptances, carrying amount | 0 | ||
Borrowings and interest thereon, carrying amount | 413,893.6 | 316,506.7 | |
Lease liabilities | 11,418.4 | 11,483.4 | |
Other financial liabilities, carrying amount | 28,629.5 | 1,653.4 | |
Derivative liabilities, carrying amount | 4,489.2 | 27,754.6 | |
Financial liabilities not measured at fair value | 458,430.7 | 357,398.1 | |
Collateralized debt obligations, carrying amount | 3,285.8 | ||
Later than three years and not later than five years [Member] | |||
Disclosure of maturity analysis for financial liabilities [line items] | |||
Accounts payable and acceptances, carrying amount | 0 | ||
Borrowings and interest thereon, carrying amount | 481,256.3 | 586,104.1 | |
Lease liabilities | 32,606.9 | 24,914 | |
Other financial liabilities, carrying amount | 19,953.9 | 1,834.4 | |
Derivative liabilities, carrying amount | 29,016.8 | 28,315.5 | |
Financial liabilities not measured at fair value | 562,833.9 | 641,168 | |
Collateralized debt obligations, carrying amount | 160.6 | ||
Later than five years [Member] | |||
Disclosure of maturity analysis for financial liabilities [line items] | |||
Accounts payable and acceptances, carrying amount | 0 | ||
Borrowings and interest thereon, carrying amount | 108,782.4 | 199,563.7 | |
Lease liabilities | 79,324.3 | 59,728.7 | |
Other financial liabilities, carrying amount | 0 | 38,947.3 | |
Derivative liabilities, carrying amount | 396.8 | 149.4 | |
Financial liabilities not measured at fair value | ₨ 188,503.5 | ₨ 298,389.1 |
Financial Instruments - Summ_13
Financial Instruments - Summary of Fair Value of Derivative Financial Instruments (Detail) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) |
Disclosure of detailed information about financial instruments [line items] | |||
Fair value of derivative financial instruments | $ (720.8) | ₨ (59,228.3) | ₨ (39,228.8) |
Foreign currency forward exchange contracts and options [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Fair value of derivative financial instruments | (762.7) | (62,669) | (53,493.3) |
Commodity derivatives [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Fair value of derivative financial instruments | (59.8) | (4,916.2) | 12,098.5 |
Others including interest rate and currency swaps [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Fair value of derivative financial instruments | $ 101.7 | ₨ 8,356.9 | ₨ 2,166 |
Financial Instruments - Summ_14
Financial Instruments - Summary of Changes in Foreign Currency Forward Exchange Contracts and Options Due to 10% Appreciation/Depreciation of Foreign Currency (Detail) - Derivative financial instruments risk management [Member] - Foreign currency forward exchange contracts and options [Member] ₨ in Millions, $ in Millions | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) |
Gain loss on hedging reserve due to ten percent depreciation of foreign currency [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
10% appreciation of foreign currency | ₨ 136,394.1 | $ 1,659.9 | ₨ 95,506.1 | ₨ 47,227 |
Gain loss on recognised in profit or loss due to ten percent depreciation of foreign currency [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
10% appreciation of foreign currency | (40,422.9) | (491.9) | (33,529.9) | (22,584.4) |
Gain loss on hedging reserve due to ten percent appreciation of foreign currency [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
10% appreciation of foreign currency | (133,606.9) | (1,626) | (111,364.2) | (54,535.1) |
Gain loss recognised in profit or loss due to ten percent appreciation of foreign currency [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
10% appreciation of foreign currency | ₨ 57,029.6 | $ 694 | ₨ 48,574.9 | ₨ 29,797.7 |
Financial Instruments - Disclos
Financial Instruments - Disclosure on Detailed Financials Instruments Designated as Hedging Instrument in Cashflow Hedge (Detail) ₨ in Millions, £ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 GBP (£) | Mar. 31, 2022 INR (₨) | Mar. 31, 2022 GBP (£) | |
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ (860.6) | ₨ (65,227) | ₨ (56,232.6) | |||
Nominal amounts | 21,069.6 | 1,596,916.2 | 2,030,154.7 | |||
Derivative financial instruments [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial instruments designated in hedge relationship | (852.6) | (64,617.3) | (56,435.7) | |||
Debt instruments denominated in foreign currency [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | (1,299.5) | (98,493.8) | ||||
Nominal amounts | 1,430.9 | 108,455 | ||||
Less than 1 year [Member] | Cross-Currency Interest Rate Swaps [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ 1.8 | 134 | 663.8 | |||
Average strike rate | 73.81 | 71.16 | ||||
Nominal amounts | $ 14.6 | 1,107.2 | 10,671.5 | |||
Between 1-5 years [Member] | Cross-Currency Interest Rate Swaps [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ 10.8 | 821.2 | 14.7 | |||
Average strike rate | 71.86 | 71.86 | ||||
Nominal amounts | $ 94.8 | 7,186 | 8,293.2 | |||
Later than five years [Member] | Interest Rate Swap Linked To LIBOR [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
>5 years | $ | 237.5 | $ 237.5 | ||||
>5 years | $ 8 | 609.7 | (203.1) | |||
>5 years | 2.86% | 2.86% | ||||
Later than five years [Member] | Cross-Currency Interest Rate Swaps [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ 42.1 | 3,188.4 | 4,325 | |||
Average strike rate | 83.52 | 83.52 | ||||
Nominal amounts | $ 582.8 | 44,173.1 | 40,736.5 | |||
U.S. dollar [Member] | Less than 1 year [Member] | Foreign currency forwards [Member] | Cash flow hedges [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ (252.9) | (19,166.7) | 470.3 | |||
Average strike rate | 0.753 | 0.7604 | ||||
Nominal amounts | $ 3,703.3 | 280,678.9 | 286,513.9 | |||
U.S. dollar [Member] | Between 1-5 years [Member] | Cross-Currency Interest Rate Swaps [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ 103 | 7,806.8 | 1,548.8 | |||
Average strike rate | 1.3 | 1.3 | ||||
Nominal amounts | $ 894.6 | 67,800.6 | 7,578.9 | |||
U.S. dollar [Member] | Between 1-5 years [Member] | Foreign currency forwards [Member] | Cash flow hedges [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ (315.4) | (23,907.9) | (7,696.4) | |||
Average strike rate | 0.758 | 0.7361 | ||||
Nominal amounts | $ 5,631.5 | 426,822.8 | 371,259.9 | |||
U.S. dollar [Member] | Between 1-5 years [Member] | Debt instruments denominated in foreign currency [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ (1,299.5) | (98,493.8) | ||||
Average strike rate | 0.63 | |||||
Nominal amounts | $ 1,430.9 | 108,455 | ||||
U.S. dollar [Member] | Later than five years [Member] | Cross-Currency Interest Rate Swaps [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ 0 | 0 | 91.3 | |||
Average strike rate | 0 | 0.7592 | ||||
Nominal amounts | $ 0 | 0 | 37,743.2 | |||
Chinese Renminbi [Member] | Less than 1 year [Member] | Foreign currency forwards [Member] | Cash flow hedges [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ (153) | (11,596.7) | (23,349.9) | |||
Average strike rate | 0.114 | 0.1094 | ||||
Nominal amounts | $ 3,586.1 | 271,799.2 | 280,236.8 | |||
Chinese Renminbi [Member] | Between 1-5 years [Member] | Foreign currency forwards [Member] | Cash flow hedges [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ (247.6) | (18,763.6) | (12,487.6) | |||
Average strike rate | 0.116 | 0.1123 | ||||
Nominal amounts | $ 6,563.1 | 497,434.4 | 350,103.6 | |||
Euro [Member] | Non Derivatives [Member] | Hedges of net investment in foreign operations [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
>5 years | £ | £ 1,074 | £ 923.7 | ||||
Euro [Member] | Less than 1 year [Member] | Foreign currency forwards [Member] | Cash flow hedges [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ 26.9 | 2,035.9 | (11,058.9) | |||
Average strike rate | 0.892 | 0.8875 | ||||
Nominal amounts | $ (2,660.3) | (201,632.8) | 287,560.3 | |||
Euro [Member] | Between 1-5 years [Member] | Foreign currency forwards [Member] | Cash flow hedges [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ 0.6 | 48.8 | (467.3) | |||
Average strike rate | 0.913 | 0.886 | ||||
Nominal amounts | $ (55.1) | (4,175.6) | 124,646.1 | |||
Euro [Member] | Later than five years [Member] | Cross-Currency Interest Rate Swaps [Member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ (67.1) | (5,082.2) | (3,829.7) | |||
Average strike rate | 0.8912 | 0.8912 | ||||
Nominal amounts | $ 597.6 | 45,294.4 | 44,304.6 | |||
Other currencies [Member] | Less than 1 year [Member] | Foreign currency forwards [Member] | Cash flow hedges [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ (7.6) | (1,679.8) | ||||
Average strike rate | 0 | 0 | ||||
Nominal amounts | $ 979.2 | 93,992.9 | ||||
Other currencies [Member] | Between 1-5 years [Member] | Foreign currency forwards [Member] | Cash flow hedges [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | $ (2.2) | (168.7) | (2,776.9) | |||
Average strike rate | 0 | 0 | ||||
Nominal amounts | $ 1,137.4 | 86,209 | ₨ 86,513.3 | |||
India, Rupees [Member] | Less than 1 year [Member] | Foreign currency forwards [Member] | Cash flow hedges [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Carrying value | (576.3) | |||||
Nominal amounts | ₨ 74,219 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2023 Segments | |
Disclosure of operating segments [abstract] | |
Number of reportable segments | 4 |
Segment Reporting - Summary of
Segment Reporting - Summary of Segment Reporting (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 INR (₨) | |
Revenues: | |||||
Revenues | $ 41,891.3 | ₨ 3,442,205.3 | ₨ 2,765,766.9 | ₨ 2,481,631.4 | |
Earnings Before Other Income, Interest and Tax | 1,161.2 | 95,387.5 | (29,886.1) | (94,589.3) | |
Finance costs pertaining to borrowings sourced by vehicle financing segment | (351) | (28,845.3) | (27,189.3) | (28,514.5) | |
Segment results | 810.2 | 66,542.2 | (57,075.4) | (123,103.8) | |
Share of profit/(loss) of equity accounted investees (net) | 40.9 | 3,363.8 | (740.6) | (3,789.6) | |
Reconciliation to net income/(loss): | |||||
Assets written off/loss on sale of assets and others (net) | (64) | (5,258.9) | 555.4 | (3,094.6) | |
Other income/(loss) (net) | 371.8 | 30,548.5 | 47,720.8 | 42,368.1 | |
Foreign exchange gain/(loss) (net) | 12.7 | 1,040.8 | (805.8) | 18,293.3 | |
Interest income | 152.3 | 12,511.8 | 6,252.1 | 4,925.3 | |
Interest expense (net) (excluding pertaining to borrowings sourced by vehicle financing segment) | (895.5) | (73,547) | (66,073.8) | (52,326) | |
Income tax expense | (85.7) | (7,040.6) | (42,204.9) | (25,410.7) | |
Net income/(loss) | 342.7 | 28,160.6 | (112,372.2) | (142,138) | |
Depreciation and amortization | 2,931.6 | 240,885.7 | 239,317.1 | 229,638.1 | |
Capital expenditure | 2,158 | 177,318.8 | 145,395.8 | 178,198.7 | |
Segment assets | 31,675.7 | 2,519,904 | 2,567,384 | ₨ 2,602,795.2 | |
Assets classified as held for sale | 100.6 | 4,957 | 2,208 | 8,263 | |
Investment in equity accounted investees | 569 | 43,493.9 | 42,007.9 | 46,756.6 | |
Reconciliation to total assets: | |||||
Investments | 2,641.3 | 250,301.4 | 204,194.8 | 217,034.9 | |
Current and non-current income tax assets | 221 | 14,566.3 | 18,686.1 | 18,156.3 | |
Deferred income taxes | 630.8 | 38,708.7 | 45,203.5 | 51,846.7 | |
Other unallocated financial assets | 4,047.2 | 351,671.4 | 463,110 | 332,539.2 | |
Total assets | 39,885.6 | 3,223,602.7 | 3,342,794.4 | 3,277,392 | |
Segment liabilities | 17,041.2 | 1,262,257.7 | 1,377,463.9 | 1,400,278.1 | |
Reconciliation to total liabilities: | |||||
Borrowings | 15,291.2 | 1,396,662.2 | 1,358,937.1 | 1,256,496.6 | |
Current income tax liabilities | 153 | 12,538.5 | 10,864.4 | 12,542 | |
Deferred income taxes | 171.2 | 15,584.4 | 15,558.9 | 14,069.5 | |
Other unallocated financial liabilities | 1,395.5 | 95,995.3 | 60,834.3 | 114,650.3 | |
Total liabilities | 34,051.9 | 2,783,038.1 | 2,823,658.6 | 2,798,036.5 | |
External [Member] | |||||
Revenues: | |||||
Revenues | $ 41,891.3 | 3,442,205.3 | 2,765,766.9 | 2,481,631.4 | |
Others [Member] | |||||
Revenues: | |||||
Revenues | 48,014.9 | 38,040.8 | 26,076.2 | ||
Earnings Before Other Income, Interest and Tax | 7,849.9 | 6,146.4 | 2,943.4 | ||
Segment results | 7,849.9 | 6,146.4 | 2,943.4 | ||
Share of profit/(loss) of equity accounted investees (net) | 69.1 | 90.7 | 250.4 | ||
Reconciliation to net income/(loss): | |||||
Depreciation and amortization | 972.7 | 12.8 | 966.2 | ||
Capital expenditure | 630.8 | 446.7 | (391.6) | ||
Segment assets | 34,650 | 24,775.8 | 40,514.4 | ||
Investment in equity accounted investees | 6,021.5 | 5,911.2 | 6,102.4 | ||
Reconciliation to total assets: | |||||
Segment liabilities | 20,201.5 | 15,084.6 | 22,521.2 | ||
Others [Member] | External [Member] | |||||
Revenues: | |||||
Revenues | 33,221 | 26,689 | 16,088.9 | ||
Others [Member] | Inter-segment/intra-segment [Member] | |||||
Revenues: | |||||
Revenues | 14,793.9 | 11,351.8 | 9,987.3 | ||
Inter-segment Eliminations [Member] | |||||
Revenues: | |||||
Revenues | (14,793.9) | (11,351.8) | (9,987.3) | ||
Earnings Before Other Income, Interest and Tax | 183.2 | 537.5 | 667 | ||
Segment results | 183.2 | 537.5 | 667 | ||
Reconciliation to net income/(loss): | |||||
Depreciation and amortization | (774) | (1,261.1) | |||
Capital expenditure | (622.7) | ||||
Segment assets | (11,294.3) | (12,698.9) | (12,267.6) | ||
Reconciliation to total assets: | |||||
Segment liabilities | (2,697.8) | (2,714.7) | (3,124.6) | ||
Inter-segment Eliminations [Member] | Inter-segment/intra-segment [Member] | |||||
Revenues: | |||||
Revenues | (14,793.9) | (11,351.8) | (9,987.3) | ||
Automotive and related activity [Member] | |||||
Revenues: | |||||
Revenues | 3,408,984.3 | 2,739,077.9 | 2,465,542.5 | ||
Earnings Before Other Income, Interest and Tax | 87,354.4 | (36,570) | (98,199.7) | ||
Finance costs pertaining to borrowings sourced by vehicle financing segment | (28,845.3) | (27,189.3) | (28,514.5) | ||
Segment results | 58,509.1 | (63,759.3) | (126,714.2) | ||
Share of profit/(loss) of equity accounted investees (net) | 3,294.7 | (831.3) | (4,040) | ||
Reconciliation to net income/(loss): | |||||
Depreciation and amortization | 240,687 | 239,304.3 | 229,933 | ||
Capital expenditure | 177,310.7 | 144,949.1 | 178,590.3 | ||
Segment assets | 2,496,548.3 | 2,555,307.1 | 2,574,548.4 | ||
Assets classified as held for sale | 4,957 | 2,208 | 8,263 | ||
Investment in equity accounted investees | 37,472.4 | 36,096.7 | 40,654.2 | ||
Reconciliation to total assets: | |||||
Segment liabilities | 1,244,754 | 1,365,094 | 1,380,881.5 | ||
Automotive and related activity [Member] | External [Member] | |||||
Revenues: | |||||
Revenues | 3,408,984.3 | 2,739,077.9 | 2,465,542.5 | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | |||||
Revenues: | |||||
Revenues | 1,185,598.8 | 835,727.7 | 494,999.9 | ||
Earnings Before Other Income, Interest and Tax | 32,205.1 | (18,109.7) | (21,120.4) | ||
Segment results | 32,205.1 | (18,109.7) | (21,120.4) | ||
Share of profit/(loss) of equity accounted investees (net) | 1,851.3 | 1,224.4 | (406.8) | ||
Reconciliation to net income/(loss): | |||||
Depreciation and amortization | 42,162.5 | 40,669.7 | 38,012.5 | ||
Capital expenditure | 55,340.5 | 26,195.4 | 21,031.4 | ||
Segment assets | 421,559.1 | 404,541.8 | 464,974.6 | ||
Assets classified as held for sale | 399.3 | 2,208 | 46.6 | ||
Investment in equity accounted investees | 5,542.5 | 4,271.4 | 7,160.1 | ||
Reconciliation to total assets: | |||||
Segment liabilities | 322,161.9 | 250,823.9 | 362,408 | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | Unallocable [Member] | |||||
Revenues: | |||||
Revenues | 2,639 | 2,258.6 | 156.3 | ||
Earnings Before Other Income, Interest and Tax | (2,792.3) | (1,374.6) | (4,042.2) | ||
Segment results | (2,792.3) | (1,374.6) | (4,042.2) | ||
Share of profit/(loss) of equity accounted investees (net) | 1,851.3 | 1,224.4 | (406.8) | ||
Reconciliation to net income/(loss): | |||||
Depreciation and amortization | 1,388 | 1,499.3 | 1,574.9 | ||
Capital expenditure | 61.5 | 10 | (792.6) | ||
Segment assets | 6,289.8 | 19,413.9 | 12,758.3 | ||
Assets classified as held for sale | 64.8 | 2,208 | 46.6 | ||
Investment in equity accounted investees | 5,542.5 | 4,271.4 | 7,160.1 | ||
Reconciliation to total assets: | |||||
Segment liabilities | 2,095.5 | 11,061.6 | 12,522.7 | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | Commercial Vehicle [Member] | |||||
Revenues: | |||||
Revenues | 705,610.4 | 519,017.3 | 329,655.3 | ||
Earnings Before Other Income, Interest and Tax | 31,387.3 | (3,560.7) | (6,058.8) | ||
Segment results | 31,387.3 | (3,560.7) | (6,058.8) | ||
Reconciliation to net income/(loss): | |||||
Depreciation and amortization | 15,653.8 | 16,863.5 | 16,462.1 | ||
Capital expenditure | 21,810.6 | 19,945.9 | 11,805.6 | ||
Segment assets | 272,906.4 | 239,776.8 | 271,652.2 | ||
Reconciliation to total assets: | |||||
Segment liabilities | 210,850.4 | 179,652.4 | 223,696.4 | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | Passenger Vehicle [Member] | |||||
Revenues: | |||||
Revenues | 477,349.4 | 314,451.8 | 165,188.4 | ||
Earnings Before Other Income, Interest and Tax | 3,610.1 | (13,174.4) | (11,019.4) | ||
Segment results | 3,610.1 | (13,174.4) | (11,019.4) | ||
Reconciliation to net income/(loss): | |||||
Depreciation and amortization | 25,120.7 | 22,306.9 | 19,975.5 | ||
Capital expenditure | 33,468.4 | 6,239.5 | 10,018.4 | ||
Segment assets | 142,362.9 | 145,351.1 | 180,564.1 | ||
Assets classified as held for sale | 334.5 | ||||
Reconciliation to total assets: | |||||
Segment liabilities | 109,216 | 60,109.9 | 126,188.9 | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | External [Member] | |||||
Revenues: | |||||
Revenues | 1,149,797.6 | 832,538.2 | 497,123.9 | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | External [Member] | Unallocable [Member] | |||||
Revenues: | |||||
Revenues | 1,759.1 | 2,258.6 | 156.3 | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | External [Member] | Commercial Vehicle [Member] | |||||
Revenues: | |||||
Revenues | 690,696 | 521,107.8 | 331,779.3 | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | External [Member] | Passenger Vehicle [Member] | |||||
Revenues: | |||||
Revenues | 457,342.5 | 309,171.8 | 165,188.4 | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | Inter-segment/intra-segment [Member] | |||||
Revenues: | |||||
Revenues | 35,801.2 | 3,189.5 | (2,124) | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | Inter-segment/intra-segment [Member] | Unallocable [Member] | |||||
Revenues: | |||||
Revenues | 879.9 | ||||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | Inter-segment/intra-segment [Member] | Commercial Vehicle [Member] | |||||
Revenues: | |||||
Revenues | 14,914.4 | (2,090.5) | (2,124) | ||
Automotive and related activity [Member] | Tata and other brand vehicles [Member] | Inter-segment/intra-segment [Member] | Passenger Vehicle [Member] | |||||
Revenues: | |||||
Revenues | 20,006.9 | 5,280 | |||
Automotive and related activity [Member] | Vehicle Financing [Member] | |||||
Revenues: | |||||
Revenues | 44,744.8 | 44,203.9 | 43,926 | ||
Earnings Before Other Income, Interest and Tax | 14,504.2 | 23,163.2 | 26,961.7 | ||
Finance costs pertaining to borrowings sourced by vehicle financing segment | (28,845.3) | (27,189.3) | (28,514.5) | ||
Segment results | (14,341.1) | (4,026.1) | (1,552.8) | ||
Reconciliation to net income/(loss): | |||||
Depreciation and amortization | 574.6 | 597 | 613.6 | ||
Capital expenditure | 363.1 | 204.3 | 284.4 | ||
Segment assets | 385,446.7 | 395,655.5 | 356,509.6 | ||
Assets classified as held for sale | 4,499 | 1,920.1 | |||
Reconciliation to total assets: | |||||
Segment liabilities | 9,662 | 8,373.2 | 12,413.7 | ||
Automotive and related activity [Member] | Vehicle Financing [Member] | External [Member] | |||||
Revenues: | |||||
Revenues | 43,184.3 | 42,113.4 | 41,801.9 | ||
Automotive and related activity [Member] | Vehicle Financing [Member] | Inter-segment/intra-segment [Member] | |||||
Revenues: | |||||
Revenues | 1,560.5 | 2,090.5 | 2,124 | ||
Automotive and related activity [Member] | Jaguar Land Rover vehicles [Member] | |||||
Revenues: | |||||
Revenues | 2,216,134.3 | 1,864,426.3 | 1,926,616.6 | ||
Earnings Before Other Income, Interest and Tax | 39,741.6 | (41,623.5) | (104,041) | ||
Segment results | 39,741.6 | (41,623.5) | (104,041) | ||
Share of profit/(loss) of equity accounted investees (net) | 1,443.4 | (2,055.7) | (3,633.2) | ||
Reconciliation to net income/(loss): | |||||
Depreciation and amortization | 197,949.9 | 198,037.6 | 191,306.9 | ||
Capital expenditure | 121,607.1 | 118,549.4 | 157,274.5 | ||
Segment assets | 1,689,542.5 | 1,755,109.8 | 1,776,973.6 | ||
Assets classified as held for sale | 58.7 | 6,296.3 | |||
Investment in equity accounted investees | 31,929.9 | 31,825.3 | 33,494.2 | ||
Reconciliation to total assets: | |||||
Segment liabilities | 913,816.1 | 1,105,896.9 | 1,028,633.5 | ||
Automotive and related activity [Member] | Jaguar Land Rover vehicles [Member] | External [Member] | |||||
Revenues: | |||||
Revenues | 2,216,002.4 | 1,864,426.3 | ₨ 1,926,616.6 | ||
Automotive and related activity [Member] | Jaguar Land Rover vehicles [Member] | Inter-segment/intra-segment [Member] | |||||
Revenues: | |||||
Revenues | 131.9 | ||||
Automotive and related activity [Member] | Intra-segment Eliminations [Member] | |||||
Revenues: | |||||
Revenues | (37,493.6) | (5,280) | |||
Earnings Before Other Income, Interest and Tax | 903.5 | ||||
Segment results | 903.5 | ||||
Reconciliation to net income/(loss): | |||||
Segment assets | (23,909.4) | ||||
Reconciliation to total assets: | |||||
Segment liabilities | (886) | ₨ (22,573.7) | |||
Automotive and related activity [Member] | Intra-segment Eliminations [Member] | Inter-segment/intra-segment [Member] | |||||
Revenues: | |||||
Revenues | ₨ (37,493.6) | ₨ (5,280) |
Segment Reporting - Summary o_2
Segment Reporting - Summary of Information Concerning Principal Geographic Areas (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 INR (₨) | |
Disclosure of geographical areas [line items] | |||||
Revenues | $ 41,891.3 | ₨ 3,442,205.3 | ₨ 2,765,766.9 | ₨ 2,481,631.4 | |
Non-current assets | 16,839.8 | 1,410,877.5 | ₨ 1,383,720.3 | ||
India [Member] | |||||
Disclosure of geographical areas [line items] | |||||
Revenues | 13,814.6 | 1,135,142 | 802,655.6 | 497,802.5 | |
Non-current assets | 3,075.8 | 238,235.2 | 252,739.3 | ||
United States of America [Member] | |||||
Disclosure of geographical areas [line items] | |||||
Revenues | 6,337 | 520,713.6 | 453,456.8 | 467,580.8 | |
Non-current assets | 100 | 8,503.3 | 8,215.1 | ||
United Kingdom [Member] | |||||
Disclosure of geographical areas [line items] | |||||
Revenues | 4,587.2 | 376,927 | 324,296.6 | 369,256.4 | |
Non-current assets | 12,028.4 | 1,020,818.6 | 988,369.9 | ||
Rest of Europe [Member] | |||||
Disclosure of geographical areas [line items] | |||||
Revenues | 5,203.2 | 427,547 | 332,145.9 | 349,545.8 | |
Non-current assets | 1,046.6 | 94,377.1 | 85,997.8 | ||
China [Member] | |||||
Disclosure of geographical areas [line items] | |||||
Revenues | 5,427.5 | 445,975.2 | 426,459.3 | 445,784.4 | |
Non-current assets | 169.1 | 13,073.7 | 13,892.1 | ||
Rest of the World [Member] | |||||
Disclosure of geographical areas [line items] | |||||
Revenues | 6,521.8 | ₨ 535,900.5 | 426,752.7 | ₨ 351,661.5 | |
Non-current assets | $ 419.9 | ₨ 35,869.6 | ₨ 34,506.2 |
Segment Reporting - Summary o_3
Segment Reporting - Summary of Information About Product Revenues (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of products and services [line items] | ||||
Revenues | $ 41,377.8 | ₨ 3,400,010.8 | ₨ 2,724,648.4 | ₨ 2,441,151 |
Finance revenues | 513.5 | 42,194.5 | 41,118.5 | 40,480.4 |
Total revenues | 41,891.3 | 3,442,205.3 | 2,765,766.9 | 2,481,631.4 |
Tata and Fiat vehicles [Member] | ||||
Disclosure of products and services [line items] | ||||
Revenues | 13,335.4 | 1,095,766.1 | 782,631.3 | 462,990 |
Total revenues | 13,302 | 1,093,017.2 | 780,372.7 | 496,967.6 |
Tata Daewoo commercial vehicles [Member] | ||||
Disclosure of products and services [line items] | ||||
Revenues | 669.6 | 55,021.4 | 53,096.4 | 32,498.5 |
Jaguar Land Rover vehicles [Member] | ||||
Disclosure of products and services [line items] | ||||
Revenues | 26,968.5 | 2,216,002.4 | 1,864,426.3 | 1,926,418.9 |
Others [Member] | ||||
Disclosure of products and services [line items] | ||||
Revenues | $ 404.3 | ₨ 33,220.9 | ₨ 24,494.4 | ₨ 19,243.6 |
Segment Reporting - Summary o_4
Segment Reporting - Summary of Major Customers (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of products and services [line items] | ||||
Revenue | $ 41,891.3 | ₨ 3,442,205.3 | ₨ 2,765,766.9 | ₨ 2,481,631.4 |
Tata and Fiat vehicles [Member] | ||||
Disclosure of products and services [line items] | ||||
Revenue | 13,302 | 1,093,017.2 | 780,372.7 | 496,967.6 |
Tata and Fiat vehicles [Member] | Commercial Vehicles [Member] | ||||
Disclosure of products and services [line items] | ||||
Revenue | 7,736.1 | 635,674.7 | 471,200.9 | 331,779.3 |
Tata and Fiat vehicles [Member] | Passenger Vehicles [Member] | ||||
Disclosure of products and services [line items] | ||||
Revenue | 4,719.8 | 387,822.5 | 282,541.8 | 159,468.4 |
Tata and Fiat vehicles [Member] | Electric Vehicles [Member] | ||||
Disclosure of products and services [line items] | ||||
Revenue | $ 846.1 | ₨ 69,520 | ₨ 26,630 | ₨ 5,720 |
Related-party Transactions - Su
Related-party Transactions - Summary of Related-party Transactions and Balances Included in Consolidated Financial Statements (Detail) ₨ in Thousands, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | Mar. 31, 2023 USD ($) | |
Disclosure of transactions between related parties [line items] | |||||
Purchase of products | ₨ 205,943,500 | $ 2,506.3 | ₨ 100,446,700 | ₨ 58,759,300 | |
Sale of products | 72,875,900 | 886.9 | 60,316,200 | 50,245,300 | |
Services received | 24,915,000 | 303.2 | 18,167,800 | 14,402,000 | |
Services rendered | 13,333,400 | 162.3 | 11,885,700 | 12,620,400 | |
Bills discounted | 108,823,700 | 79,014,200 | 59,472,300 | $ 1,324.4 | |
Purchase of property, plant and equipment | 1,109,000 | 13.5 | 446,500 | 285,400 | |
Sale of property, plant and equipment | 2,340,900 | 343,700 | |||
Interest (income)/expense, dividend (income)/paid, (net) | (1,594,800) | (19.4) | 739,900 | 826,700 | |
Finance given (including loans and equity) | 412,500 | ||||
Finance taken (including loans and equity) | 1,430,000 | 1,480,000 | 28,135,100 | 17.4 | |
Finance taken, paid back (including loans and equity) | 1,860,000 | 1,532,700 | 1,620,000 | 22.6 | |
Borrowing towards lease liability | 542,700 | 1,679,900 | |||
Repayment towards lease liability | 310,800 | 3.8 | 240,700 | 141,400 | |
Amounts receivable in respect of loans and interest thereon | 142,000 | 137,600 | 139,800 | 1.7 | |
Amounts payable in respect of loans and interest thereon | 516,700 | 938,800 | 1,010,700 | 6.3 | |
Amount payable in respect of Lease Liability | 3,028,700 | $ 36.9 | 2,960,500 | 2,658,500 | |
Trade and other receivables | 7,790,800 | 7,194,800 | 8,703,200 | 94.8 | |
Accounts payable | 14,596,600 | 4,909,100 | 4,447,300 | 177.6 | |
Acceptances | 11,561,400 | 15,297,200 | 9,290,700 | 140.7 | |
Provision for amount receivables | 93,000 | 93,000 | 93,000 | $ 1.1 | |
Associates and its subsidiaries [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Purchase of products | 73,536,900 | 40,642,200 | 19,795,600 | ||
Sale of products | 3,256,800 | 3,897,900 | 1,450,000 | ||
Services received | 220,800 | 109,500 | 145,700 | ||
Services rendered | 257,200 | 125,800 | 105,900 | ||
Purchase of property, plant and equipment | 918,500 | 348,600 | 248,200 | ||
Interest (income)/expense, dividend (income)/paid, (net) | 42,300 | 58,400 | 55,000 | ||
Finance taken (including loans and equity) | 1,430,000 | 1,480,000 | 2,110,000 | ||
Finance taken, paid back (including loans and equity) | 1,860,000 | 1,520,000 | 1,620,000 | ||
Amounts payable in respect of loans and interest thereon | 480,000 | 910,000 | 950,000 | ||
Trade and other receivables | 328,500 | 718,200 | 405,700 | ||
Accounts payable | 2,295,700 | 1,399,500 | 653,100 | ||
Joint ventures [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Purchase of products | 5,723,700 | 3,988,900 | |||
Sale of products | 24,476,200 | 26,797,300 | 27,546,000 | ||
Services received | 24,400 | 36,700 | |||
Services rendered | 10,607,400 | 9,861,300 | 10,769,600 | ||
Interest (income)/expense, dividend (income)/paid, (net) | (900) | ||||
Amounts receivable in respect of loans and interest thereon | 93,000 | 93,000 | 93,900 | ||
Trade and other receivables | 3,369,800 | 2,979,700 | 4,812,900 | ||
Accounts payable | 45,500 | 2,000 | |||
Provision for amount receivables | 93,000 | 93,000 | 93,000 | ||
Joint operations [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Purchase of products | 108,365,100 | 55,585,900 | 38,686,300 | ||
Sale of products | 30,278,700 | 16,930,000 | 11,790,100 | ||
Services received | 6,200 | 2,600 | 7,400 | ||
Services rendered | 64,400 | 52,300 | 44,900 | ||
Interest (income)/expense, dividend (income)/paid, (net) | (2,112,900) | (45,100) | 183,700 | ||
Borrowing towards lease liability | 542,700 | 1,679,900 | |||
Repayment towards lease liability | 310,800 | 240,700 | 141,400 | ||
Amount payable in respect of Lease Liability | 3,028,700 | 2,960,500 | 2,658,500 | ||
Trade and other receivables | 998,500 | 838,500 | |||
Accounts payable | 7,535,600 | 1,119,200 | 1,569,400 | ||
Tata Sons Pvt Ltd, its subsidiaries and joint ventures [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Purchase of products | 18,317,800 | 229,700 | 277,400 | ||
Sale of products | 14,864,200 | 12,691,000 | 9,459,200 | ||
Services received | 24,663,600 | 18,019,000 | 14,248,900 | ||
Services rendered | 2,404,400 | 1,846,300 | 1,700,000 | ||
Bills discounted | 108,823,700 | 79,014,200 | 59,472,300 | ||
Purchase of property, plant and equipment | 190,500 | 97,900 | 37,200 | ||
Sale of property, plant and equipment | 2,340,900 | 343,700 | |||
Interest (income)/expense, dividend (income)/paid, (net) | 475,800 | 726,600 | 588,900 | ||
Finance given (including loans and equity) | 412,500 | ||||
Finance taken (including loans and equity) | 26,025,100 | ||||
Finance taken, paid back (including loans and equity) | 12,700 | ||||
Amounts receivable in respect of loans and interest thereon | 49,000 | 44,600 | 45,900 | ||
Amounts payable in respect of loans and interest thereon | 36,700 | 28,800 | 60,700 | ||
Trade and other receivables | 3,094,000 | 2,658,400 | 3,484,600 | ||
Accounts payable | 4,719,800 | 2,388,400 | 2,224,800 | ||
Acceptances | ₨ 11,561,400 | ₨ 15,297,200 | ₨ 9,290,700 |
Related-party Transactions - _2
Related-party Transactions - Summary of Compensation of Key Management Personnel (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Disclosure of transactions between related parties [line items] | ||||
Short-term benefits | $ 10 | ₨ 818.7 | ₨ 575.9 | ₨ 895.4 |
Post-employment benefits | 0.1 | 9.9 | 14.4 | 133 |
Share based payment | $ 0.7 | ₨ 60.2 | ₨ 14.2 | ₨ 6.8 |
Related-party Transactions - Ad
Related-party Transactions - Additional Information (Detail) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 INR (₨) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) | |
Related party transaction [line items] | ||||
Sale of products | ₨ 72,875.9 | $ 886.9 | ₨ 60,316.2 | ₨ 50,245.3 |
Fiat India Automobiles Private Limited [Member] | ||||
Related party transaction [line items] | ||||
Sale of products | 15,460.6 | |||
Chief executive officer [member] | ||||
Related party transaction [line items] | ||||
Key management personnel compensation | 586.7 | 371.8 | ||
Managing director and chief executive officer [member] | ||||
Related party transaction [line items] | ||||
Key management personnel compensation | 169.7 | |||
Executive Directors [members] | ||||
Related party transaction [line items] | ||||
Key management personnel compensation | 46.4 | 33.4 | ||
Chief Financial Officer [Member] | ||||
Related party transaction [line items] | ||||
Key management personnel compensation | ₨ 134.9 | ₨ 111.7 |
Earnings Per Share ("EPS") - Su
Earnings Per Share ("EPS") - Summary of Earnings Per Share (Detail) ₨ / shares in Units, $ / shares in Units, ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 INR (₨) ₨ / shares shares | Mar. 31, 2023 USD ($) $ / shares shares | Mar. 31, 2022 INR (₨) ₨ / shares shares | Mar. 31, 2021 INR (₨) ₨ / shares shares | |
Ordinary shares [Member] | ||||
Earnings per share [line items] | ||||
Net income attributable to shareholders, Basic net earnings per share | ₨ 22,031.5 | $ 268.1 | ₨ (98,599.3) | ₨ (122,748.1) |
Net income attributable to shareholders, Effect of shares kept in abeyance | ₨ | 492,559 | |||
Net income attributable to shareholders, Adjustment for Dilutive Shares related to ESOP/PSP | ₨ | ₨ 0 | |||
Net income attributable to shareholders, Adjustment for Dilutive Shares related to ESOP/PSP | 1,282,388 | 1,282,388 | ||
Net income attributable to shareholders, Diluted earnings per share | ₨ 22,031.5 | $ 268.1 | ₨ (98,599.3) | ₨ (122,748.1) |
Weighted average shares, Basic net earnings per share | 3,321,146,115 | 3,321,146,115 | 3,320,402,491 | 3,128,268,742 |
Weighted average shares, Diluted earnings per share | 3,322,921,062 | 3,322,921,062 | 3,320,402,491 | 3,128,268,742 |
Basic net earnings per share | (per share) | ₨ 6.6 | $ 0.1 | ₨ (29.7) | ₨ (39.2) |
Diluted earnings per share | (per share) | ₨ 6.6 | $ 0.1 | ₨ (29.7) | ₨ (39.2) |
'A' Ordinary shares [Member] | ||||
Earnings per share [line items] | ||||
Net income attributable to shareholders, Basic net earnings per share | ₨ 3,373.3 | $ 41.1 | ₨ (15,100) | ₨ (19,952.8) |
Net income attributable to shareholders, Effect of shares kept in abeyance | ₨ | 233,214 | |||
Net income attributable to shareholders, Diluted earnings per share | ₨ 3,373.3 | $ 41.1 | ₨ (15,100) | ₨ (19,952.8) |
Weighted average shares, Basic net earnings per share | 508,502,896 | 508,502,896 | 508,502,896 | 508,502,896 |
Weighted average shares, Diluted earnings per share | 508,736,110 | 508,736,110 | 508,502,896 | 508,502,896 |
Basic net earnings per share | (per share) | ₨ 6.6 | $ 0.1 | ₨ (29.7) | ₨ (39.2) |
Diluted earnings per share | (per share) | ₨ 6.6 | $ 0.1 | ₨ (29.7) | ₨ (39.2) |
Held for sale assets and liab_2
Held for sale assets and liabilities - Summary of Assets and Liablities held for sale (Details) ₨ in Millions, $ in Millions | Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2022 INR (₨) | Mar. 31, 2021 INR (₨) |
Non-current assets: | ||||
Property, plant and equipment | $ 9,317.4 | ₨ 765,611.9 | ₨ 789,133.7 | |
Total assets | 39,885.6 | 3,277,392 | 3,223,602.7 | ₨ 3,342,794.4 |
Non-current liabilities: | ||||
Liabilities directly associated with Assets held-for-sale | 31.2 | |||
Total liabilities | 34,051.9 | 2,798,036.5 | 2,783,038.1 | ₨ 2,823,658.6 |
Assets and liabilities classified as held for sale [member] | ||||
Non-current assets: | ||||
Property, plant and equipment | 77.2 | 6,342.9 | 498.2 | |
Repossessed vehicles related to finance receivable | 23.4 | 1,920.1 | 4,458.8 | |
Total assets | 100.6 | 8,263 | 4,957 | |
Non-current liabilities: | ||||
Liabilities directly associated with Assets held-for-sale | 0 | 0 | 31.2 | |
Total liabilities | $ 0 | ₨ 0 | ₨ 31.2 |
Loss_(gain) on sale_write off_2
Loss/(gain) on sale/write off of assets and others (net) - Additional Information (Detail) - INR (₨) ₨ in Millions | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Assets [abstract] | |||
Assets tangible and intangible written off | ₨ 5,164.2 | ₨ 366.5 | ₨ 5,626.8 |
Gain loss on sale of assets | ₨ 94.7 | ₨ (921.9) | ₨ 2,532.2 |
Restricted Assets - Additional
Restricted Assets - Additional Information (Detail) - INR (₨) ₨ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
Statement [line items] | ||
Restricted net assets not available for distribution | ₨ 0 | ₨ 0 |
Consolidated Subsidaries [Member] | ||
Statement [line items] | ||
Threshold percentage of restricted net assets to consolidated net assets | 25% |
Other note - Additional Informa
Other note - Additional Information (Detail) ₨ in Millions, £ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2023 INR (₨) | Mar. 31, 2023 GBP (£) | Mar. 31, 2021 INR (₨) | |
Statement [line items] | ||||
Assets write-downs (reversals) | ₨ 96,061.1 | £ 951.8 | ||
Restructuring costs | 53,881.9 | 533.8 | ||
Provisions for redundancies and other third party obligations | 53,122.9 | £ 526.4 | ||
Defined benefit past service cost | $ 181.9 | ₨ 14,950.7 | ₨ (848.1) | |
Scenario plan [member] | Two Thousand and Thirty Six [Member] | ||||
Statement [line items] | ||||
Percentage of production of pure battery electric vehicles | 100% | 100% | 100% | |
Jaguar Land Rover [Member] | ||||
Statement [line items] | ||||
Defined benefit past service cost | ₨ 759 | £ 7.5 |
Significant Investments in Su_2
Significant Investments in Subsidiaries - Additional Information (Detail) - INR (₨) ₨ in Millions | 12 Months Ended | ||
Jan. 31, 2023 | Mar. 29, 2022 | Mar. 31, 2023 | |
First Tranche [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proceeds from compulsorily convertible preferred shares | ₨ 37,500 | ||
second Tranche [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proceeds from compulsorily convertible preferred shares | ₨ 37,500 | ||
Tata Passenger Electric Mobility Limited [Member] | |||
Disclosure of subsidiaries [line items] | |||
Proceeds from compulsorily convertible preferred shares | ₨ 75,000 |
Provisions Relating to Custom_2
Provisions Relating to Customer Liability - Additional Information (Detail) - 12 months ended Mar. 31, 2023 ₨ in Millions, £ in Millions | INR (₨) | GBP (£) |
Jaguar Land Rover Limited [Member] | ||
Statement [Line Items] | ||
Provision for russia market | ₨ 4,286.6 | £ 43 |
Investment to Subsidiaries - Su
Investment to Subsidiaries - Summary of Subsidiaries (Detail) | 12 Months Ended |
Mar. 31, 2023 | |
TML Business Services Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | TML Business Services Limited |
Country of incorporation | India |
% of Equity Shareholding | 100% |
Tata Motors Insurance Broking and Advisory Services Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Motors Insurance Broking and Advisory Services Limited |
Country of incorporation | India |
% of Equity Shareholding | 100% |
TMF Holdings Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | TMF Holdings Limited |
Country of incorporation | India |
% of Equity Shareholding | 100% |
TML Holdings Pte. Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | TML Holdings Pte. Limited |
Country of incorporation | Singapore |
% of Equity Shareholding | 100% |
Tata Hispano Motors Carrocera S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Hispano Motors Carrocera S.A. |
Country of incorporation | Spain |
% of Equity Shareholding | 100% |
Tata Hispano Motors Carrocerries Maghreb SA [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Hispano Motors Carrocerries Maghreb SA |
Country of incorporation | Morocco |
% of Equity Shareholding | 100% |
Tata Precision Industries Pte. Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Precision Industries Pte. Limited |
Country of incorporation | Singapore |
% of Equity Shareholding | 78.39% |
Tata Technologies Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies Limited |
Country of incorporation | India |
% of Equity Shareholding | 76.69% |
Tata Motors Body Solutions Limited (Formerly known as Tata Marcopolo Motors Limited) [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Motors Body Solutions Limited (Formerly known as Tata Marcopolo Motors Limited) |
Country of incorporation | India |
% of Equity Shareholding | 100% |
Brabo Robotics and Automation Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Brabo Robotics and Automation Limited |
Country of incorporation | India |
% of Equity Shareholding | 100% |
Jaguar Land Rover Technology and Business Services India Private Limited (Formerly known as JT Special Vehicles Pvt. Limited) [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Technology and Business Services India Private Limited (Formerly known as JT Special Vehicles Pvt. Limited) |
Country of incorporation | India |
% of Equity Shareholding | 100% |
TML CV Mobility Solutions Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | TML CV Mobility Solutions Limited |
Country of incorporation | India |
% of Equity Shareholding | 100% |
Tata Motors Passenger Vehicles Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Motors Passenger Vehicles Limited |
Country of incorporation | India |
% of Equity Shareholding | 100% |
TML Smart City Mobility Solutions Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | TML Smart City Mobility Solutions Limited (Incorporated on May 25, 2022) |
Country of incorporation | India |
% of Equity Shareholding | 100% |
Tata Passenger Electric Mobility Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Passenger Electric Mobility Limited. |
Country of incorporation | India |
% of Equity Shareholding | 100% |
Subsidiaries of Tata Passenger Electric Mobility Limited [member] | Tata Motors European Technical Centre PLC [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Motors European Technical Centre PLC |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Tata Passenger Electric Mobility Limited [member] | Trilix S.r.l. [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Trilix S.r.l. |
Country of incorporation | Italy |
% of Equity Shareholding | 100% |
Subsidiaries of TML Holdings Pte. Ltd. [member] | Tata Daewoo Commercial Vehicle Company Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Daewoo Commercial Vehicle Company Limited |
Country of incorporation | South Korea |
% of Equity Shareholding | 100% |
Subsidiaries of TML Holdings Pte. Ltd. [member] | Tata Daewoo Commercial Vehicle Sales and Distribution Company Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Daewoo Commercial Vehicle Sales and Distribution Company Limited |
Country of incorporation | South Korea |
% of Equity Shareholding | 100% |
Subsidiaries of TML Holdings Pte. Ltd. [member] | Tata Motors (Thailand) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Motors (Thailand) Limited |
Country of incorporation | Thailand |
% of Equity Shareholding | 97.21% |
Subsidiaries of TML Holdings Pte. Ltd. [member] | Tata Motors (SA) (Proprietary) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Motors (SA) (Proprietary) Limited |
Country of incorporation | South Africa |
% of Equity Shareholding | 60% |
Subsidiaries of TML Holdings Pte. Ltd. [member] | PT Tata Motors Indonesia [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | PT Tata Motors Indonesia |
Country of incorporation | Indonesia |
% of Equity Shareholding | 100% |
Subsidiaries of TML Holdings Pte. Ltd. [member] | PT Tata Motors Distribusi Indonesia [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | PT Tata Motors Distribusi Indonesia |
Country of incorporation | Indonesia |
% of Equity Shareholding | 100% |
Subsidiaries of TML Holdings Pte. Ltd. [member] | Jaguar Land Rover Automotive Plc [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Automotive Plc |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Automotive Plc [member] | Jaguar Land Rover Automotive Plc [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Holdings Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Austria GmbH [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Austria GmbH |
Country of incorporation | Austria |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Japan Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Japan Limited |
Country of incorporation | Japan |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | JLR Nominee Company Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | JLR Nominee Company Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Deutschland GmbH [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Deutschland GmbH |
Country of incorporation | Germany |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Classic Deutschland GmbH [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Classic Deutschland GmbH |
Country of incorporation | Germany |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover North America LLC [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover North America LLC |
Country of incorporation | USA |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Nederland BV [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Nederland BV |
Country of incorporation | Netherlands |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Portugal - Veculos e Pecas Lda. [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Portugal - Veículos e Peças, Lda. |
Country of incorporation | Portugal |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Australia Pty Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Australia Pty Limited |
Country of incorporation | Australia |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Italia Spa [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Italia Spa |
Country of incorporation | Italy |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Korea Company Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Korea Company Limited |
Country of incorporation | South Korea |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover (China) Investment Co. Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover (China) Investment Co. Limited |
Country of incorporation | China |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Canada ULC [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Canada ULC |
Country of incorporation | Canada |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover France, SAS [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover France, SAS |
Country of incorporation | France |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover (South Africa) (Pty) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover (South Africa) (Pty) Limited |
Country of incorporation | South Africa |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar e Land Rover Brasil Indstria e Comrcio de Veculos LTDA [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar e Land Rover Brasil Indústria e Comércio de Veículos LTDA |
Country of incorporation | Brazil |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Limited Liability Company "Jaguar Land Rover" (Russia) [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Limited Liability Company “Jaguar Land Rover” (Russia) |
Country of incorporation | Russia |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover (South Africa) Holdings Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover (South Africa) Holdings Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover India Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover India Limited |
Country of incorporation | India |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Espana SL [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Espana SL |
Country of incorporation | Spain |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Belux NV [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Belux NV |
Country of incorporation | Belgium |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Cars South Africa (Pty) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Cars South Africa (Pty) Limited |
Country of incorporation | South Africa |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Cars Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Cars Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Land Rover Exports Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Land Rover Exports Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Land Rover Ireland Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Land Rover Ireland Limited |
Country of incorporation | Ireland |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | The Daimler Motor Company Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | The Daimler Motor Company Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Daimler Transport Vehicles Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Daimler Transport Vehicles Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | S.S. Cars Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | S.S. Cars Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | The Lanchester Motor Company Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | The Lanchester Motor Company Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Shanghai Jaguar Land Rover Automotive Services Company Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Shanghai Jaguar Land Rover Automotive Services Company Limited |
Country of incorporation | China |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Pension Trustees Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Pension Trustees Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Slovakia s.r.o [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Slovakia s.r.o |
Country of incorporation | Slovakia |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Singapore Pte. Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Singapore Pte. Ltd. |
Country of incorporation | Singapore |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Racing Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Racing Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | InMotion Ventures Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | InMotion Ventures Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | In-Car Ventures Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | In-Car Ventures Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | InMotion Ventures 2 Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | InMotion Ventures 2 Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | InMotion Ventures 3 Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | InMotion Ventures 3 Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Colombia S.A.S [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Colombia S.A.S |
Country of incorporation | Columbia |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Ireland (Services) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Ireland (Services) Limited |
Country of incorporation | Ireland |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Taiwan Company Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Taiwan Company Limited |
Country of incorporation | Taiwan |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Servicios Mexico, S.A. de C.V. [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Servicios México, S.A. de C.V. |
Country of incorporation | Mexico |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Mexico, S.A.P.I. de C.V. [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover México, S.A.P.I. de C.V. |
Country of incorporation | Mexico |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Hungary KFT [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Hungary KFT |
Country of incorporation | Budapest |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Classic USA LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Classic USA LLC |
Country of incorporation | USA |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Ventures Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover Ventures Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Bowler Motors Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Bowler Motors Limited |
Country of incorporation | UK |
% of Equity Shareholding | 100% |
Subsidiaries of Jaguar Land Rover Holdings Limited [member] | Jaguar Land Rover Ningbo Trading Co Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Jaguar Land Rover (Ningbo) Trading Co. Limited |
Country of incorporation | China |
% of Equity Shareholding | 100% |
Subsidiaries of Tata Technologies Limited [member] | Tata Technologies Pte Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies Pte Limited |
Country of incorporation | Singapore |
% of Equity Shareholding | 76.69% |
Subsidiaries of Tata Technologies Limited [member] | Tata Technologies (Thailand) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies (Thailand) Limited |
Country of incorporation | Thailand |
% of Equity Shareholding | 76.69% |
Subsidiaries of Tata Technologies Limited [member] | Tata Manufacturing Technologies (Shanghai) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Manufacturing Technologies (Shanghai) Limited |
Country of incorporation | China |
% of Equity Shareholding | 76.69% |
Subsidiaries of Tata Technologies Limited [member] | INCAT International Plc. [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | INCAT International Plc. |
Country of incorporation | UK |
% of Equity Shareholding | 76.69% |
Subsidiaries of Tata Technologies Limited [member] | Tata Technologies Inc. (Formerly known as INCAT GmbH) [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies Inc. (Formerly known as INCAT GmbH) |
Country of incorporation | Germany |
% of Equity Shareholding | 76.69% |
Subsidiaries of Tata Technologies Limited [member] | Tata Technologies Europe Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies Europe Limited |
Country of incorporation | UK |
% of Equity Shareholding | 76.69% |
Subsidiaries of Tata Technologies Limited [member] | Tata Technologies Nordics AB [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies Nordics AB |
Country of incorporation | UK |
% of Equity Shareholding | 76.69% |
Subsidiaries of Tata Technologies Limited [member] | Tata Technologies Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies Inc. |
Country of incorporation | USA |
% of Equity Shareholding | 76.74% |
Subsidiaries of Tata Technologies Limited [member] | Tata Technologies de Mexico, S.A. de C.V. [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies de Mexico, S.A. de C.V. |
Country of incorporation | Mexico |
% of Equity Shareholding | 76.74% |
Subsidiaries of Tata Technologies Limited [member] | Cambric Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Cambric Limited |
Country of incorporation | USA |
% of Equity Shareholding | 76.74% |
Subsidiaries of Tata Technologies Limited [member] | Tata Technologies SRL Romania [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies SRL Romania |
Country of incorporation | Romania |
% of Equity Shareholding | 76.74% |
Subsidiaries of Tata Technologies Limited [member] | Tata Technologies Limited Employees Stock Option Trust [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Technologies Limited Employees Stock Option Trust |
Country of incorporation | India |
% of Equity Shareholding | 76.69% |
Subsidiaries of Tata Technologies Limited [member] | INCAT International Limited ESOP 2000 [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | INCAT International Limited ESOP 2000 |
Country of incorporation | UK |
% of Equity Shareholding | 76.69% |
Subsidiaries of TMF Holdings Ltd. [member] | Tata Motors Finance Solutions Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Motors Finance Solutions Limited |
Country of incorporation | India |
% of Equity Shareholding | 100% |
Subsidiaries of TMF Holdings Ltd. [member] | Tata Motors Finance Limited [member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | Tata Motors Finance Limited |
Country of incorporation | India |
% of Equity Shareholding | 100% |
Subsidiaries of TML Smart City Mobility Solutions Limited [Member] | TML Smart City Mobility Solutions (JK) Private Limited (Incorporated with effect from October 13, 2022) [Member] | |
Disclosure of subsidiaries [line items] | |
Name of the Subsidiary Company | TML Smart City Mobility Solutions (J&K) Private Limited (Incorporated with effect from October 13, 2022) |
Country of incorporation | India |
% of Equity Shareholding | 100% |