anyata€¦ · newage power designation: nagar, p balu "marg, company private independent,...

G AnYATA

'

Disclosures to be provided along with the application for listing

1. Issuer details:

1.1. Details of the issuer:

(i) Name, Address, CIN and PAN

Name The Tata Power Company Limited Address Registered Office: Bombay House, 24, Homi Mody Street, Mumbai - 4.00 001

Corporate Office: Corporate Center, 34, Sant Tukaram Road, Carnac Sunder, Mumbai - 400 009

CIN L28�20MH 1919PLC000567 PAN AAACT0054A

(ii) Line of business:

The principal business of the Company is generation, transmission, distribution and trading of electricity.

(iii) Chief Executive (Managing Director I President/ CEO / CFO):

: Mr. Praveer Sinha CEO and Managing Director CFO : Mr. Ramesh N Subramanyam

(iv) Group affiliation (if any)

The Company is a part of the 'Tata Group'.

1.2. Details of the directors as on 20th March 2020

SI. No.

1.

Name, designation Age Address Director List of other and DIN (in since directorships

years) Mr. N. 56 Floor 21 & 22, 33 11.02.2017 Indian Companies Chandrasekaran South 1. Tata Sons PrivateDesignation: Condominium, LimitedNon-Independent Peddar Road, 2. Tata ConsultancyNon-Executive, Opposite Sterling Services LimitedChairman Apartments, Mumbai 3. Tata Steel LimitedDIN: 00121863 400 026 4. Tata Motors

Limited5. The Indian Hotels

Company Limited6. TCS Foundation7. Reserve Bank of

India8. Tata Consumer

. Products Limited(formerly knownas Tata GlobalBeveragesLimited)

9. The Society andBoard of

I• Governors of theIndian Institute of

TATA POWER

The Tata Power Company Limited

Corporate Centre 34 Sant Tukaram Road Carnac Sunder Mumbai 400 009

Tel 91 22 6717 1000

Registered Office Bombay House, 24 Homi Mody Street, Mumbai 400 001

Website . www.tatapower.com Email : [email protected] CIN : L28920MH 1919PLC000567

.,. TATA

Management, Lucknow

Foreign Companies 1. Jaguar Land

Rover AutomotivePie

2. Ms. Anjali Bansal 48 3302-3202, A Wing, 14.10.2016 Indian Companies Designation: Vivarea, Jacob 1. Siemens LimitedIndependent, Non- Circle, Mahalaxmi, 2. Tata PowerExecutive Director Mumbai RenewableDIN: 00207746 400 030. Energy Limited

3. Apollo TyresLimited

4. Bata India Limited5. Glaxosmithkline

PharmaceuticalsLimited

6. Valtas Limited7. Kotak Mahindra

AssetManagementCompany Limited

8. Tata Power SolarSystems Limited

9. Delhivery PrivateLimited

10. Bombay Chamberof Commerce

Foreign Companies 1. SAB Holdings Pvt

Ltd.,, Mauritius3. Ms. Vjbha u. 51 Flat Nos. 14.10.2016 Indian Companies

Padalkar 2503/04/05/06, 25th 1. HDFC LifeDesignation: Floor, Tower B, InsuranceIndependent, Non- Ashok Tower CHS, Company LimitedExecutive Director Dr. S S Rao Road, 2. HDFC PensionDIN: 01682810 Parel, Mumbai Management

400 012 Company Limited3. HDFC

InvestmentsLimited

Foreign Companies 1. HDFC

International Lifeand Re CompanyLimited

4. Mr. Sanjay V. 51 32/33, Moon reach 1.4.10.2016 Indian Companies Bhandarkar Apartments, Prabha 1. Newage PowerDesignation: Nagar, P Balu "Marg, Company PrivateIndependent, Non- Prabhadevi, Mumbai LimitedExecutive Director 400 025 2. S Chand and'DIN: 01260274 Company Limited

3. Chayya Prakashni

I• Private Limited

4. WalwhanRenewable

.

Energy Limited5. Tata Power

.TATA Renewable Energy Limited

6. HDFC AssetManagementCompany Limited

7. NationalInvestment andInfrastructureFund Limited

8. Vagarai WindfarmLimited

9 . Clean Sustainable .

Solar Energy Private Limited·

5. Mr. K.M. 71 Flat No. 2H, 04.05.2017 Indian Companies Chandrasekhar 'Majestic', GIE 1. KIMS Health CareDesignation: Homes, Near NISH, ManagementIndependent, Non- Akkulam Boat Club LimitedExecutive Director Road, Kuzhivila, 2. KIMS Al ShifaDIN: 06466854 Sreekaryam P.O., Healthcare

Thiruvananthapuram · Private Limited695 017

. 3 . Tata Advanced

Systems Limited 4. Coastal Gujarat

Power Limited6. Mr. Ashok Sinha 67 Flat No. 18, Kailash, 02.05.2019 Indian Companies

Designation: 50, Cumballa Hill, 1. JK CementIndependent, Non- Peddar Road, LimitedExecutive Director Mumbai 400 026 2. Cipla LimitedDIN: 00070477 3. AirAsia (India)

Limited4. Axis Asset

ManagementCompany Limited

5. The Hospital &Nursing HomeBenefitsAssociation

6. Coastal GujaratPower Limited

7. Mr. Hemant 60 Runwal Greens, 24.08.2017 Indian Companies Bhargava Mulund Goregaon 1. ITC LimitedDesignation: UC Link Road, Mulund 2. Larsen & ToubroNominee Director, (West), LimitedNon-Independent, Mumbai - 400 080 3. Voltas LimitedNon-Executive Director DIN: 01922717

8. Mr. Saurabh 50 Flat No.2803, 17.11.2017 Indian Companies Agrawal Imperial Towers, B. 1. Tata Sons PrivateDesignation: Non- B. Nakashe Marg, LimitedIndependent, Non- Tardeo, Mumbai 2. Tata Steel LimitedExecutive Director 400 034 3. Tata CapitalDIN: 02144558 Limited

4. Tata AIA LifeInsuranceCompany Limited

5. Tata AIG General

G TATA

Insurance Company Limited

6. Tata TeleservicesLimited

7. Tata Sky Limited8. Gradis Trading

Private Limited9. Mr. Banmali 56 Ashford Apartment, 17.11.2017 Indian Companies

Agrawala Flat No. 03, 3rd Floor, 1. Tata ProjectsDesignation: Non- 1/26A Ridge Road, LimitedIndependent, Non- Malabar Hill, 2. Tata AdvancedExecutive Director Mumbai 400 006 Systems Limited

I' DIN: 00120029 3. Tata Realty &InfrastructureLimited

4. AirAsia {India)Limited

I' 5. Tata HousingDevelopmentCompany Limited

10. Mr. Praveer Sinha 57 22 A&B, New 01.05.2018 Indian Companies: Designation: CEO & Akashganga CHS 1. Tata Power DelhiManaging Director Ltd., 89, Bhulabhai DistributionDIN: 01785164 Desai Road, Mumbai Limited

400 026 2. Tata Power SolarSystems Limited

3. Tata PowerTrading CompanyLimited

4. Tata PowerRenewableEnergy Limited

Foreign Companies: 1. Resurgent Power

Ventures Pte. Limited

2. AdjaristsqaliNetherlands BV

3. KoromkhetiNetherlands BV

1.3. Details of change in �irectors in last thre.e financial years including any change in the current year:

SI. Name, Designation and DIN Date of Date of Remarks {viz. No. Appointment Cessation. reasons for change

/Resignation (in case of etc) resignation)

1. Mr. Cyrus P. Mistry 23.12.2011 19.12.2016 Resignation Designation: Chairman & Non-Executive Director DIN: 00010178

2. Mr. Piyush G. Mankad 13.08.2014 17.11.2016 Consequent upon Designation: Independent i;>irector attaining 75 years of DIN: 00005001 age, as required by

• TATA

the Retirement Policy adopted by Company

3. Mr. Sanjay V. Bhandarkar 14.10.2016 - NA Designation: Independent DirectorDIN:01260274

4. Ms. Vibha Padalkar 14.10.2016 - NA

Designation: Independent DirectorDIN: 01682810

5. Ms. Anjali Bansal 14.10.2016 - NA

Designation: Independent DirectorDIN: 00207746

6. Mr. S Padmanabhan 16.12.2016 16.11.2017 Resignation Designation: Non-Executive, Non-Independent DirectorDIN:00306299

7. Ms. Sandhya S. Kudtarkar 16.04.2016 16.11.2017 Resignation Designation: Non-Executive, Non-Independent DirectorDIN:00021947

·-

8. Mr. Hemant Bhargava 24.08.2017 - NA Designation: LIC Nominee DirectorDIN: 01922717

9. Mr. K. M. Chandrasekhar 04.05.2017 � NA

Designation: Independent Director DIN: 06466854

10. Mr. Saurabh Agrawal 17.11.2017 - NA

Designation: Non-Executive, Non-Independent DirectorDIN: 02144558

11. Mr. Banmali Agrawala 17.11.2017 - NA

Designation: Non-Executive, Non-Independent DirectorDIN:00120029

12. Mr. Pravin H. Kutumbe 07.09.2015 20.05.2017 Resignation Designation: LIC Nominee DirectorDIN: 01629256

13. Dr. Homiar S. Vachha 13.08.2014 23.04.2017 Consequent upon Designation: Independent Director attaining 75 years of DIN: 00016610 age, as required by the

Retirement Policy adopted by Company

14. Mr. Ashok K. Basu 13.08.2014 24.032017 Consequent upon Designation: Independent Director attaining 75 years of DIN: 01411191 age, as required by the

Retirement Policy adopted by Company

15. Mr. N. Chandrasekaran 11.02.2017 - Nil Designation: Non-,Executive, Non-Independent ChairmanDIN: 00121863

16. Mr. Anil Sardana 01.02.2011 30.04.2018 Resignation Designation: CEO & Managing Director DIN: 00006867

17. Mr. Praveer Sinha 01.05.2018 - Nil Designation: CEO & Managing Director

G TATA

DIN:01785164

18. Mr. Ashok Sethi 07.05.2014 30.04.2019 Superannuation Designation: coo & Executive Director DIN:01741911

19. Mr. Ashok Sinha 02.05.2019 - Nil Designation: Independent Director DIN: 00070477

20. Mr. Nawshir Mirza 29.09.2006 12.08.2019 Completion of term of Designation: Independent Director appointment as DIN: 00044816 Independent Directors

21. Mr. Deepak Satwalekar 12.02.2008 12.08.2019 Completion of term of Designation: lndel?endent Director appointment as DIN: 00009627 Independent Directors

1.4. List of top 10 holders of equity shares of the Company as on 31st December 2019:

SI. Name and Category of Total no. of No.of Total No. Shareholder equity shares Shares in shareholding as

Demat form % of total no. ofequity shares

1. Tata Sons Private Limited 926668205 926668205 34.26 Promoter Company

2. Matthews Pacific Tiger Fund 180316487 180316487 6.67 Foreign Portfolio Investors (Corporate)

3. Life Insurance Corporation of India 167467322 167467322 6.19 Life Insurance Corporation

4. ICICI Prudential Equity Savings Fund 147725940 147725940 5.46 Mutual Fund

5. · First State Investments lcvc- Stewart 73163559 73163559 2.70 Investors Global Emerging MarketsLeaders FundForeign Portfolio Investors(Corporate)

6. Reliance Capital Trustee Co Limited 55286413 55286413 2.04 Mutual Fund

7. The New India Assurance Company 52193839 52193839 1.93 l.'.imited Pubic:: Insurance Companies

8. Franklin India Mutual Funds 30417715 30417715 1.12

9. General Insurance Corporation of 46862960 46862960 1.73 India Pubic Insurance Companies

10. Tata Steel Limited 39122725 39122725 1.45 Promoter Company

Total 1719225165 1719225165 63.56

1.5. Details of the statutory auditor:

Name and address Date of appointment Remarks

.,.. TATA

S R B C & CO. LLP 23rd August 2017 Appointed for a period of five Address: 14th Floor, The Ruby, years w.e.f. 01.04.2017 to 29, Senapati Bapat Marg, 31.03.2022 Dadar (West), Mumbai - 400 028

1.6. Details of the change m statutory auditors m last three financial years mcludmg any change in the current year:

Name, address Date of Date of cessation (in Remarks (viz. appointment/ case of resignation) reasons for change resignation etc)

S R B C & CO. LLP Date of Appointment: Not Applicable Appointed for a period Address: 14th Floor, 23rd August 2017 of five years w.e.f. The. Ruby, 29, 01.04.2017 - to Senapati Bapat Marg, 31.03.2022Dadar (West),

-

Mumbai - 400 028 Deloitte Haskins & Date of Appointment: . Not Applicable Completion of term as Sells LLP 13th August 2014 ·statutory Auditors u/sAddress:- lndiabulls Date of Completion of 139 of the CompaniesFinance Centre, term·: Act, 2013Tower 3, 27th to 32nd 23rd August 2017 Floor, Senapati Bapat Marg, Elphinston Road (w), Mumbai -4Q0 013

1.7. List of top 10 debt securities holders as on 31st December 2019-:

a) 9.15% Secured, Non-Convertible, Non-Cumulative, Redeemable, Taxable, Debentures withSeparately Transferable Redeemable Principal Parts allotted in July 2010

SI. List of top 10 Non Category Amount Face Value Holding of debt No. Convertible Debenture Outstanding securities a s a

holders percentage of total debt securities

outstanding of the issuer

1 ADITYA BIRLA SUN QIB Insurance 45,00,00,000 60,00,000 36 LIFE INSURANCE Company

COMPANY LIMITED Registered with IRDA

2 ICICI PRUDENTIAL QIB Insurance 20,00,00,000 80,00,000 16 LIFE INSURANCE Company


3 GENERAL INSURANCE Fl Govt. 15,00,00,000 25,00,000 10 CORPORATION OF sponsored Fl

INDIA 4 UNITED INDIA Fl Govt. 10,00,00,000 20,00,000 8.33

INSURANCE sponsored Fl COMPANY LIMITED

5 MAGMA HDI GENERAL Body Corporate 10,00,00,000 20,00,000 8.33 INSURANCE Domestic

COMPANY LIMITED 6 NATIONAL INSURANCE Fl Govt. 10,00,00,000 25,00,000 6.67

COMPANY LTD sponsored Fl

G TATA

7 TATA FIXED MATURITY Mutual Fund MF 5,00,00,000 20,00,000 4.17 PLAN - SERIES 55

SCHEME F

8 SBI EQUITY HYBRID Mutual Fund MF 5,00,00,000 20,00,000 4.17 FUND

9 ICICI PRUDENTIAL Mutual Fund MF 4,00,00,000 20,00,000 3.33 ULTRA SHORT TERM

FUND

10 RELIANCE CAPITAL Mutual Fund MF 1,00,00,000 20,00,000 0.83 TRUSTEE CO L TD-A/C NIPPON INDIA FIXED

HORIZON FUND -XXXV - SERIES 9

Total 1,25,00,00,000

b) 9.15% Secured, Non-Convertible, Non-Cumulative, Redeemable, Taxable, Debentures withSeparately Transferable Redeemable Principal Parts allotted in September 2010

SI. List of top 10 Non Category No. Convertible Debenture

holders

1 SBI LIFE INSURANCE Body Corporate CO.LTD Others

2 HDFC LIFE QIB Insurance INSURANCE Company


3 UNITED INDIA Fl Govt. INSURANCE sponsored Fl

COMPANY LIMITED 4 THE KALYAN JANATA Bank Co-

SAHAKARI BANK LTD Operative Scheduled Bank

5 CAPGEMINI BUSINESS Trust SERVICES (INDIA)

LIMITED EMPLOYEES PROVIDENT FUND

TRUST

6 DOMBIVLI NAGARI Bank Co-SAHAKARI BANK LTD Operative

Scheduled Bank 7 LAWRENCE AND Trust

MAYO (I) PVT LTD STAFF

PROVIDENTFUND

Total

c) 11 .40% Perpetual Bonds allotted in June 2011

SI. List of top 10 Non Category No. Convertible Debenture

holders

Amount Face Value Holding of debt Outstanding securities as a

percentage of total debt securities

.


65,01 ,50,000 6,62,500 61.34

6,00,00;000 1,00,000 5.66

30,01 ,00,000 5,62,500 28.31

4,00,00,00Q 4,00,000 3.77

65,00,000 1,62,500 0.61

22,75,000 1,62,500 0.21

. 9,75,000 1,62,500 0.1

1,06,00,00,000

Amount Face Value Holding of debt Outstanding secutities as a


T� �TA outstanding of

the issuer

1 HDFC TRUSTEE Mutual Fund MF 2,50,00,00,000 10,00,000 16.67 COMPANY LTD A/C HDFC CREDIT RISK

DEBT FUND

2 TATA INVESTMENT Body Corporate 1, 15,00,00,000 10,00,000 7.67 CORPORATION Domestic

LIMITED

3 AZIM PREMJI TRUST Body Corporate 1,00,00,00,000 10,00,000 6:67

Domestic

4 TATA CONSULTANCY Trust 67,50,00,000 10,00,000 4.50 SERVICES

EMPLOYEES PROVIDENTFUND

5 NPS TRUST-A/C UTI Trust 59,80,00,000 10,00,000 3.99 RETIREMENT

SOLUTIONS PENSION FUND SCHEME -CENTRAL GOVT

6 HDFC TRUSTEE Mutual Fund MF 54,80,00,000 10,00,000 3.65 COMPANY LIMITED

A/C HDFC INCOMEFUND

7 TRENT LIMITED Body Corporate 50,00,00,000 10,00,000 3.33 Others

8 FRANKLIN INDIA Mutual Fund MF 47,00,00,000 10,00,000 3.13 ULTRA SHORT BOND

FUND

9 NPS TRUST-A/C UTI Trust 40,10,00,000 10,00,000 2.67-RETIREMENT

SOLUTIONS PENSION FUND SCHEME -

STATE GOVT

10 HDFC TRUSTEE Mutual Fund MF 35,00,00,000 10,00,000 2.33 COMPANY LTD. A/C HDFC HYBRID DEBT

FUND .

Total 8, 19,20;00,000

d) 10.75% Unsecured Debentures allotted·in August 2012

SI. List of top 10 Non Category Amount Face Value Holding of debt No. Convertible Debenture Outstanding securities as a



1 SBI LIFE INSURANCE Body Corporate 2,81,10,00,000 10,00,000 18.74 CO.LTD Others

2 HDFC TRUSTEE Mutual Fund MF 2,00,00,00,000 10,00,000 13.33 COMPANY LTD A/C HDFC CREDIT RISK

DEBT FUND

3 LARSEN AND TOUBRO Body Corporate 1,03, 70,00,000 10,00,000 6.91 LIMITED Others

T� ,TA 4 FRANKLIN INDIA LOW Mutual Fund MF 78,00,00,000 10,00,000 5.20

DURATION FUND

5 FRANKLIN INDIA Mutual Fund MF 56,00,00,000 10,00,000 3.73 CREDIT RISK FUND

6 FRANKLIN INDIA Mutual F1,md MF 55,40,00,000 10,00,000 3.69 INCOME

OPPORTUNITIES FUND

7 FRANKLIN INDIA Mutual Fund MF 50,00,00,000 10,00,000 3.33 ULTRA SHORT BOND

FUND 8 UNITED INDIA Fl Govt. 50,00,00,000 10,00,000 3.33

INSURANCE sponsored Fl COMPANY LIMITED

9 VOLTAS LIMITED Body Corporate 50,00,00,000 10,00,000 3.33 Domestic

10 POSTAL LIFE Body Corporate 45,00,00,000 10,00,000 3.00 INSURANCE FUND A/C Central

UTI AMC Government

Total 9,69,20,00,000

e) 9.40% Redeemable, Transferable, Secured, Non-Convertible Debentures allotted in December2012

51. List of top 1.0 Non Category Amount Face Value Holding of debt No. Convertible Debenture Outstanding securities as a



1 RURAL POSTAL LIFE Body Corporate 30,00,00,000 10,00,000 14.29 INSURANCE FUND A/C Central

UTI AMC Government 2 POSTAL LIFE Body Corporate 50,00,00,000 10,00,000 23.81

INSURANCE FUND A/C Central UTI AMC Government

3 RURAL POSTAL LIFE Body Corporate 15,00,00,000 10,00,000 7.14 INSURANCE FUND A/C Central

SBIFMPL Government

4 POSTAL LIFE Body Corporate 30,00,00,000 10,00,000 14.29 INSURANCE FUND A/C Central

SBIFMPL Government

5 SBI LIFE INSURANCE Body Corporate 10,00,00,000 10,00,000 4.76 CO.LTD Others

6 GENERAL INSURANCE Fl Govt. 10,00,00,000 10,00,000 4.76 CORPORATION OF sponsorec! Fl

INDIA 7 THE ORIENTAL QIB Insurance 20,00,00,000 10

!00,000 9.52

INSURANCE COMPANY Company LIMITED Registered with

!RDA8 ECGC LIMITED QIB Insurance 5,00,00,000 10,00,000 2.38

Company Registered with

!RDA

' 9 STANDARD CHARTERED BANK

INDIA STAFF PROVIDENTFUND

Total

Trust 10,00,000 19.05

2, 10,00,00,000

f) 7.99% Unsecured, Redeemable, Non-Convertible Debentures allotted in November 2017


holders percentage of

I' total debt securities


1 SBI LIFE INSURANCE Body Corporate 4,45;00, 00; 000 10,00,000 29.67 CO.LTD Others

2 HDFC BANK LTD Bank Others 4,00,00,00,000 10,00,000 26.67 Scheduled Bank

3 FRANKLIN INDIA Mutual Fund MF 1, 10,00,00,000 10,00,000 7.33 ULTRA SHORT BOND

FUND

4 RELIANCE GENERAL QIB Insurance 55,00,00,000 10,00,000 3.67 INSURANCE COMPANY Company

LIMITED Registered with IRDA

5 HDFC LIFE INSURANCE QIB Insurance 50,00,00,000 10,00,000 3.33 COMPANY LIMITED Company

Registered with _IRDA

6 AXIS BANK LIMITED Bank Others 49,00,00,000 10,00,000 3.27 Scheduled Bank

7 AXIS MUTUAL FUND Mutual Fund MF 45,00,00,000 10,00,000 3.00 TRUSTEE LIMITED A/C

AXIS MUTUAL FUND A/C AXIS CREDIT RISK

FUND

8 HDFC BANK LIMITED TRUST 40,00,00,000 10,00,000 2.67 COVERED EMPLOYEES

PROVIDENT FUND TRUST

9 CHOLAMANDALAM MS QIB Insurance 35,00,00,000 10,00,000 2.33 GENERAL INSURANCE Company

COMPANY LTD Registered with IRDA

10 BNP PARIBAS Bank Foreign 35,00,00,000 10,00,000 2.33 Scheduled

Commercial Bank

Total 12,64,00,00,000

g) 9% SeriesDebentures

Unsecured, Redeemable, Taxable, Listed, Rated, Non-Convertible


holders percentage of total debt

, •ATA securities


1 ICICI PRUDENTIAL Mutual Fund 5,00,00,000 10,00,000 2.00

RETIREMENT FUND- MF PURE DEBT PLAN

2 ICICI PRUDENTIAL Mutual Fund 45,00,00,000 10,00,000 18.00

SHORT TERM FUND MF

3 HDFC TRUSTEE Mutual Fund 75,00,00,000 10,00,000 30.00 COMPANY LTD A/C MF

HDFC SHORT TERM DEBT FUND

4 ADITYA BIRLA SUN QIB Insurance 12,50,00:000 10,00,000 5.00 LIFE INSURANCE Company


5 RELIANCE GENERAL QIB Insurance 12,50,00,000 10,00,000 5.00 INSURANCE COMPANY Company

LIMITED Registered with IRDA

6 NPS TRUST- A/C SBI TRUST 29,00,00,000 10,00,000 11.60 PENSION FUND

SCHEME C - TIER I

7 NPS TRUST- NC SBI TRUST 1,00,00,000 10,00,000 0.40 PENSION FUND

SCHEME C - TIER II 8 NPS TRUST - A/C SBI TRUST 20,00,00,000 10,00,000 8.00

PENSION FUND SCHEME - ATAL

PENSION YOJANA (APY)

9 ICICI PRUDENTIAL Mutual Fund 50,00,00,000 10,00,000 20.00 CREDIT RISK FUND MF

Total 2,50,00,00,000

h) 8.84% Series II Unsecured, Redeemable, Taxable, Listed, Rated, Non-Convertible Debentures

SI. List of top 10 Non Category Am·ount Face Value Holding of debt No. Convertible Debenture Outstanding securities as a



1 ICICI PRUDENTIAL Mutual Fund 50,00,00,000 10,00,000 10.00 SHORT TERM FUND MF

2 ICICI PRUDENTIAL Mutual Fund 1,00,00,000 10,00,000 20.00 FLOATING INTEREST MF

FUND

3 HDFC TRUSTEE Mutual Fund 75,00,000 10,00,000 15.00 COMPANY LTD A/C MF

HDFC SHORT TERM DEBT FUND

4 TATA MUTUAL FUND - Mutual Fund 21,00,000 10,00,000 4.20 TATA HYBRID EQUITY MF

FUND

G TATA

5 FRANKLIN INDIA Mutual Fund 15,00,000 10,00,000 3.00 FLOATING RATE FUND MF

6 FRANKLIN INDIA ULTRA Mutual Fund 1,00,00,000 10,00,000 20.00 SHORT BOND FUND MF

7 FRANKLIN INDIA Mutual Fund 1,20,00,000 10,00,000 2.00 CREDIT RISK FUND MF.

8 IDFC CREDIT RISK Mutual Fund 25,00,000 10,00,000 5.00 FUND MF

9 RELIANCE GENERAL Mutual Fund 22,00,000 10,00,000 4.40 INSURANCE COMPANY MF

LIMITED

10 ICICI PRUDENTIAL Mutual Fund 1,00,00,000 10,00,000 13.00 CREDIT RISK FUND MF

11 BARODA CREDIT RISK Mu�ual Fund 17,00,000 10,00,000 3.40 FUND MF

Total 12,50,00,000

i) 8.84% Series Ill Unsecured, Redeemable, Taxable, Listed, Rated, Ncm-Convertible Debentures

51. List of top 10 Non Category Amount Face Value Holding of debt No. Convertible Debenture Outstanding securities as a



1 FRANKLIN INDIA Mutual Fund 40,00,00,000 10,00,000 5.33 DYNAMIC ACCRUAL MF

FUND

2 FRANKLIN INDIA Mutual Fund . 1,00,00,000 10,00,000 14.67 CREDIT RISK FUND MF

3 SBI EQUITY HYBRID Mutual Fund 75,00,000 10,00,000 33.73 FUND MF

4 SBI MAGNUM INCOME Mutual Fund 21,00,000 10,00,000 8.00 FUND MF

5 SBIMAGNUM Mutual Fund 15,00,000 10,00,000 0.27 CHILDREN'S BENEFIT MF

FUND.

6 SBI MAGNUM MEDIUM Mutual Fund 1,00,00,000 10,00,000 11.33 DURATION FUND MF

7 SBI CREDIT RISK FUND Mutual Fund 1,20,00,000 10,00,000 12.00 MF

8 SBI DEBT HYBRID FUND Mutual Fund 25,00,000 10,00,000 7.33 MF

'

G TATA

9 SBI EQUITY SAVINGS Mutual Fund 22,00,000 10,00,000

FUND MF

10 ICICI PRUDENTIAL Mutual Fund 1,00,00,000 10,00,000 CREDIT RISK FUND MF

Total 12,50,00,000

j) 8.85% Secured Unlisted Rated Redeemable Non-Convertible Debentures

SI. List of top 10 Non Category Amount Face Value No. Convertible Outstanding

Debenture holders

1 KOTAK MAHINDRA Body 22,00,000 22,00,000 BANK LTD Corporate

Domestic

Total 22,00,000

1.8. List of top 10 CP holders as on 31st December 2019:

SI. Name of CP holder (in Cr) Category of CP Face value of No. holder CP holding

(in Cr)

1 ICICI PRUDENTIAL LIQUID FUND Mutual Fund 850 2 ADITYA BIRLA SUN LIFE TRUSTEE Mutual Fund

PRIVATE LIMITED FUND 750 3 ADITYA BIRLA SUN LIFE TRUSTEE Mutual Fund

PRIVATE LIMITED FUND 725 4 ADITYA BIRLA SUN LIFE TRUSTEE Mutual Fund

PRIVATE LIMITED FUND 700 5 L& T MUTUAL FUND TRUSTEE Mutual Fund

LIMITED-L&T ARBITRAGE OPPORTUNITIES FUND 600

6 FRANKLIN INDIA LIQUID FUND Mutual Fund 400 7 UTI-FUND Mutual Fund 375 8 UTI-FUND Mutual Fund 350 9 UTKARSH SMALL FINANGE BANK Mutual Fund

LTD 100 10 S81 Fund Mutual Fund 100

2. Material Information:

2.1 Details of all default/s and/or delay in payments of interest and principal Nil of CPs, (including technical delay), debt securities, term loans, external commercial borrowings and other financial indebtedness including corporate guarantee issued in the past 5 financial years including in the current financial year.

2.67

4.67

Holding of debt securities as a



100

CP holding· percentage as a percentage of total CP

. outstanding of ttie issuer

17.00%

15.00%

14.50%

14.00%

12.00% 8.00% 7.50% 7.00%

2.00% 2.00%

2.2 Ongoing and/or outstanding material litigation and regulatory strictures, Enclosed as Annexure 1 if any

.,. TATA

2.3 Any material event/ development having implications on the None financials/credit quality including any material regulatory proceedings against the Issuer/promoters, ti:ix litigations resulting i_n material liabilities, corporate restructuring event which may affect the issue or the investor's decision to invest / continue to invest in the CP

3. Details of borrowings of the company, as on 31st December 2019:

3.1 Details of debt securities and CPs Enclosed as Annexure 2

3.2 Details of secured/ unsecured loan facilities/ bank fund based facilities/ Enclosed as Annexure 3 rest of the borrowing, if any, including hybrid debt like foreign currency convertible bonds. (FCCB), optionally convertible debentures / preference shares from banks or financial institutions or financial creditors, as on last quarter

3.3The amount of corporate guarantee or letter of comfort issued by the Enclosed as Annexure 4 issuer along with name of the counterparty {like name of the subsidiary, JV entity, group company, etc) on behalf of whom it has been issued, contingent liability including debt service reserve account (DSRA) guarantees/ any put option etc.

4. Issue Information:

4.1 Details of current -tranche including ISIN, amount, date of issue, Enclosed as Annexure 5 maturity, all credit ratings including unaccepted ratings, date of rating, name of credit rating agency, its validity period (details of credit rating letter issued not older than one month on the date of opening of the issue), details of issuing and paying agent and other conditions, if any.

4.2 CP borrowing limit, supporting board resolution for CP borrowing, The certified true copy of details of CP issued during the last 15 months. the resolution is enclosed

as Annexure 6. Further, the details of CPs issued during last 15 months is enclosed as Annexure 7.

4.3 End-use of funds .

Short Term Cash Flow requirement

4.4 Credit Support/enhancement (if any): None (i) Details of instrument, amount, guarantor company(ii) Copy of the executed guarantee(iii) Net worth of the guarantor company(iv) Names of companies to which guarantor has issued similar guarantee(v) Extent of the guarantee offered by the guarantor company(vi) Conditions under which the guarantee will be invoked

5. Financial Information:

.rt TATA

5.1 Audited/Limited review half yearly consolidated (wherever available) and standalone financial information (Profit & Loss statement, Balance Sheet and Cash Flow statement) along with auditor qualifications, if any, for last three years along with latest available financial results.

In case an issuer is required to prepare financial results for the purpose of consolidated financial results in terms of Regulation 33 of SEBI LODR Regulations, latest available quarterly financial results shall be filed

5.2 Latest audited financials should not be older than six month from the date of application for listing.

l?rovlded that listed iss1:1ers (who have already listed their specified securities and/or 'Non-convertible Debt Securities' (NCDs) and/or 'Non-Convertible Redeemaele Preference·Sl:tares"(NCRPS)) who are in compliance with• SEBI (Listing 001igations and disclosure requirements) Regulations 2015 (hereinafter uSEBI LODR Regulations"), and/or issuers '(who have outstanding listed C0mmercial Paper (CPs)) who are in ,compliance with Annexure ll of CP Circular may file unaudited finaneials with limited review for the- stub period in the current financial year, subject to making necessary disclosures in this regard including risk factors ..

The Annual Reports of the Company are available at the following weblinks of the Company:

FY 2018-19: https://www.tatapower.com/pdf/investorrelations/1OOAnnual-Report-2018-19 .pdf

FY 2017-18: https;l/www.tatapower.com/pdf/investorrelations/99Annual-Report-2017 -18. pdf

FY 2016-17 https:/ /www. tatapower.c,;om/pdf/i nvestorrelations/98Annual-Report�2016-17. pdf

Further, the Unaudited Financial Results alongwith Limited Review Report for the quarter and nine months ended December 31, 2019 are enclosed as Annexure 8 The Unaudited Financial Results alongwith Limited Review Report for the quarter and half year ended September 30, 2019 are enclosed as Annexure 9

6. Asset Liability Management (ALM) Disclosures: Not Applicable

6.1. NBFCs seeking to list (heir CPs shall make disclosures as .specified for NBFCs in SEBI Circular nos. CIR/IMDIDF/ 12 /2014, dated June·17, 2014 and CIR/IMD/DF/ 6 /2015, elated Septemberf5, 2015, as revised from time to time. Further, "Total assets under management", under para 1.a. of Annexure I of-CIR/IMD/DF/6/2015, dated September 15, 2015-shall also include details of off-balance sl:teet assets.

6.2'. HFCs shall make disclosures as specified for NBFCs in SEBI Circular no. CIR/IMD/DF/ 6/2015, dated September 15, 2015, as revised from time to time with appropriate modifications viz. retail housing loan, loan against property, wholesal� loan - developer and others.

For The p•• Company Umtted

Kast ri � undararajan Chie - Corporate Treasury & Investor Relation

Date: 20th March 2020 Place: Mumbai'

fr. TATA

Annexure 1

DETAILS OF INQUIRY, INSPECTIONS AND INVESTIGATIONS

Except as stated below the Issuer and its su_bsidiaries '!re not aware of any outstanding litigation

including suits, criminal or civil prosecutions and taxation related proceedings against the Issuer and Ior its subsidiaries that would have a material adverse effect on the Issuer's business. Furthermore, there are no defaults, non-payment of statutory dues including, institutional/ bank dues and dues

payable to holders of any debentures, bonds and fixed deposits that would have a material adverse effect on the Issuer's business other than unclaimed liabilities against the Issuer as of the date of this Offer Letter.

In determining whether any outstanding litigation against the Issuer and its subsidiaries, other than litigation involving moral turpitude, criminal liability, material violations of statutory regulations or proceedings relating to economic offences, would have a material adverse effect on the Issuer's business, those proceedings which involve a claim of more than 1 % of the Issuer's total net worth as of 31st March 2016 (threshold - approx Rs. 132 crores) in the financial year 2015-16 have been individually described below.

Civil Cases

1. In respect of a standby charges dispute with RIL for the period from April 1, 1999 to March

.31, 2004, the Appellate Tribunal of Electricity(" ATE"), set aside the MERC order dated May

31, 2004 and directed the Issuer to refund to RIL as on March 31, 2004, Rs. 354.00 crore

(including interest of Rs.15.14 crore) and pay interest at 10% per annum thereafter. The

amount payable to RIL upto February 2007 worked out to Rs 454 Crores including an

interest of Rs._100 Crores from 31st March 2014. On appeal filed by the Issuer, the Supreme

Court in its interim order dated February 7, 2007, stayed the ATE order and in accordance

with its directives, the Issuer has furnished a bank guarantee of the sum of Rs. 227 .00 crore

and also deposited Rs. 227 .00 crore with the Registrar General of the Supreme Court which

has been withdrawn by RIL on furnishing the required undertaking to the Court. RIL has

also subsequently filed an appeal before the Supreme Court challenging the ATE order.

Both the appeals have been admitted. The hearing of the matter is under progress in the

Supreme Court. As at March 31, 2015 the accumulated interest is Rs. 185 crore on the

amount of Rs. 227 Crores (computed at 10% p.a).

2. Tata Power (Mumbai Distribution) filed an Appeal under Section 111 of the Electricity Act,

2003 challenging the legality, validity and propriety of the Mid-Term Review Order dated

26.06.2015 passed by Ld. Maharashtra Electricity Regulatory Commission in Case No.18

of 2015. The said appeal was filed before the Hon'ble APTEL on 10th August, 2015 and

was listed for admission hearing on 19th October, 2015. After hearing the counsel for the

parties, the Hon'ble Tribunal was pleased to issue notice, and directed the Respondent to

file its response within two weeks, and Rejoinder by Tata Power in two weeks thereof. The

Hon'ble Tribunal further directed Tata Power to issue Public Notice inviting objections to

the Appeal. Public Notice was published on 30th October, 2015. Next Date of hearing is 21st

December, 2015. Thereafter the matter was listed several times for completion of

arguments by all parties and finally reserved for judgment on 1st June, 2016. Subsequently,

Tata Power-D filed an IA bearing no. 403 of 2016 seeking stay on the pronouncement of

fr. TATA

judgment with the prayer that since the judgment dated 03.06.2016, in Appeal No. 244 and 246 of 2015 (Appeals of Tata Power-G& T), were dismissed by the Appellate Tribunal and have been assailed by filing the Review Petition No. 13 of 2016, the judgment in Appeal No. 245 of 2015, which is reserved, may not be pronounced. The Hon'ble Tribunal was pleased to post the Appeal and Review Petition No.13 of 2016 for fresh arguments on 5th

October, 2016. However, subsequently, the matter kept getting adjourned as the Judicial Member demitted office·and the post in Court II was lying vacant. The matter was listed for hearing on 25th October, 2017, wherein the Tribunal was informed that the IA no. 403 of 2016 has become infructuous. Accordingly, the Tribunal disposed of �he IA and posted the matter for hearing of the main appeal on 11th December, 2017. Total amount at stake in the appeal is approximately Rs. 164.69 crores.

3. · The Company. during the period 17.03.2012 to 31.01.2013 imported coal from variouscountries. The Company classified the imported coal as steam coal under CTH 27011920 and accordingly, paid concessional rate of custom duties as applicable to steam coal. However, the Customs Department contended that the coal imported by the Company is classifiable as bituminous coal and accordingly, the benefit of the exemption notification should not be available to the Company. An amount of Rs. 135 crores was levied for the classification of the coal as bituminous coal, which we have paid under protest with little delay. A penalty of Rs. 24 crores is charged for wrong classification and interest of Rs. 11 crores is charged for delayed payment under protest. In light of the contrary decisions of the CESTAT on the issue of classification of imported coal, the matter was referred to a Larger Bench of CESTAT for resolving the issue. The Larger Bench heard the matter and vide its Order dated 16.01.2017 observed that the issue of classification of steam coal is already pending before the Hon'ble Supreme Court as the appeal filed by Coastal Energy against the adverse order of CESTAT, Bangalore on the said issue has been admitted by the Supreme Court. In view of the matter pending before Hon'ble Supreme Court, the Larger Bench disposed of the references made by the Divisional Benches without any findings on the merit of the case but granted the liberty to approach the Bench (if required), once the decision of the Hon'ble Supreme Court is delivered.

Tax Matters

4. The Bombay High Court has passed an order confirming the demand raised by Dy.Commissioner of Sales Tax and subsequently confirmed by Joint Commissioner of SalesTax (Appeal) Ill as well as Maharashtra Sales Tax Tribunal under rule 8 of the MaharashtraTax on Entry of Goods into Local Areas Rules, 2002 for an amount ofRs. 326,39,94,028 and Rs. 458,96,44,004/- for entry tax to be paid by the Company for thefinancial year 2005-06 and 2008-09 respectively. The Issuer has filed a Special LeavePetition (SLP No. 27901-27903 of 2016) before the Supreme Court of India against theabove decision and demand which is pending before the Supreme Court. Supreme Courthas extended the stay to the disputed demands granted by the Bombay High court fromtime till the submission of response by State Govt. Issuer has made part payments of Rs.33.83 crores and Rs 42.37 crores respectively for the years 2005-06 and FY 2008-09.

5. The Joint Commissioner of Sales Tax - Appeals .( JC Appeals ) has confirmed theassessments orders passed by the Dy Commissioner of Sales Tax under Rule 8 of theMaharashtra Tax on the Entry of goods into Local Areas Rules, 2002 for the followingperiods. The Issuer has filed an appeal against the said orders before the MaharashtraSales Tax Tribunal ( Tribunal ).

.,.. TATA

Period Date of Date of JC Amount of Part

Assessment Appeal order Demands payments made

Order

2006- 07 28-03.2014 30.01.2017 2,610,052,161 273,841,558 2007-08 31-03-2015 30.01.2017 4,959,798,566 390,279,234 2010-11 31.03.2015 28-09-2016 186,000,692 143,085,148 2011-12 31.03.2016 28-09-2016 3,225,540,368 355,595,755

Total 10,981,391,787 1,162,801,695

6. The Deputy Commissioner of Sales Tax issued a demand notice da.ted March 27, 2015,under Rule 8 of the Maharashtra Tax on the 'Entry of goods into Local Areas Rules, 2002for an amount of Rs. 163,39,06,302/- for entry tax to be paid by the Issuer for financial year2009-10. The Issuer submitted an appeal against the said order with the JointCommissioner of Sales Tax (Appeals) V, Mumbai and has made a part payment of anamount of Rs. 15.08 crores. The Joint Commissio.ner has granted ad-interim stay till finaldisposal of the appeal. The matter is still pending adjudication.

7. The Deputy Commissioner of Sales Tax issued a demand notice dated March 27, 2017,under Rule 8 of the Maharashtra Tax on the Entry of goods into Local Areas Rules, 2002for an amount of Rs.166, 77 ,05,324/- for entry tax to be paid by the Issuer for financial year2012-13. The Issuer submitted an appeal before the Joint Commissioner of Sales Tax(Appeals) V, Mumbai against the aforesaid order and has made a part payment of anamount of Rs 38,65,93,822/-. The appeal is pending before Joint Commissioner foradmission.

Seri es

1

2

3

4

5

G TATA

Annexure 2

Details of debt securities as on 31st December 2019:

ISIN Tenor/ Cou Amount issued Date of Period of pon allotment maturity

INE245A07218 9/17/2025 9.15 250,000,000 23"' July 10

INE245A07226 9/17/2025 9.15 200,000,000 23"' July 10

INE245A07234 9/17/2025 9.15 200,000,000 23"' July 10

INE245A07242 9/17/2025 9.15 200,000,000 23"' July 10

INE245A07259 9/17/2025 9.15 200,000,000 23"' July 10

INE245A07267 9/17/2025 9.15 200,000,000 23"' July 10

INE245A07366 7/23/2025 9.15 160,000,000 17'" Sep 10

I NE245A0737 4 7/23/2025 9.15 160,000,000 17'" Sep 10

INE245A07382 7/23/2025 9.15 160,000,000 17th Sep 10

INE245A07390 7/23/2025 9.15 160,000,000 17'" Sep 10

INE245A07408 7/23/2025 9.15 160,000,000 17th Sep 10

INE245A07416 7/23/2025 9.15 260,000,000 17'" Sep 10

INE245A07424 12/28/2022 9.40 2,100,000,000 28th Dec 12

INE245A08091 11/15/2024 7.99 3,000,000,000 16'" Nov 17

INE245A0B109 11/15/2024 7.99 3,000,000,000 15th Nov 17

INE245A08117 11/15/2024 7.99 3,000,000,000 16'" Nov 17

INE245A0B125 11/15/2024 7.99 3,000,000,000 16th Nov 17

INE245A0B133 11/15/2024 7.99 3,000,000,000 16th Nov 17

INE245A08067 11/17/2019 7.99 5,000,000,000 17th Nov 14

INE245A08042 8/21/2072 7.99 15,000,000,000 21"Aug 12

Total 39,410,000,000

Details of commercial papers as on 31st December 2019:

!SIN Tenor/ Coupon Amount Date of Redemption Perio issued allotment date/ d of Schedule

maturi

ty INE245A14CG9 179 6.85% 500 26th Sep 19 23"' Mar 20

INE245A14Cl5 89 6.00% 500 18'" Oct 19 15th Jan 20

INE245A14CJ3 146 6.70% 500 24th Oct 19 1am Mar 20

INE245A14CL9 89 6.08% 500 30'" Oct 19 27th Jan 20

INE245A14CM7 89 5.97% 500 14th Nov 19 11th Feb 20

Redemptlo Credit rating Secured/ n date/ Unsecure

Schedule d 23"' July 21 Care Secured

Ratings/Crisil/lCRA 23"' July 21 Care Secured

RalinCJs/Crisil/lCRA 23"' July 22 Care Secured



Ratinqs/Crisil/lCRA 23rd July 25 Care Secured

Ratings/Crisil/lCRA 17th Sep 20 Care Secured

Ralings/Crisil/lCRA 17'" Sep 21 Care Secured

RatinCJs/Crisil/lCRA 17m Sep 22 Care Secured

Ratings/Crisil/lCRA 17th Sep 23 Care Secured

Ratinqs/Crisil/lCRA 1]tn Sep 24 Care Secured

Ratings/Crisil/1 CRA 17th Sep 25 Care Secured

Ratinqs/Crisil/lCRA 28'" Dec 22 Care Secured

Ratings/Crisil/lCRA 16th Nov 20 Care Unsecured

Ratinqs/Crisil/lCRA 16'" Nov 21 Care Unsecured

Ratings/8rlsil/lCRA 16th Nov 22 Care Unsecured

Ralinas/Crisil/lCRA 16m Nov 22 Care Unsecured

Ratings/Crisil/lCRA 15th Nov 24 Care Unsecured

Ratinas/Crisil/lCRA 17m Nov 19 Care Unsecured

Ratings/Crlsll/lCRA 21st Aug 72 Care Unsecured

Ratings/Crisil/lCRA

Credit Secured/ Securi IPA CRA rating Unsecur ty

ed

A1+ Unsecur NA ICICI ICRNC ed Bank RISIL





G TATA

6 INE245A 14CN5 117 6.44% 300 15th Nov 19 11th Mar 20 A1t Unsecur NA ICICI ICRNC

ed Bank RISIL

7 INE245A14CO3 68 6.20% 200 15th Nov 19 22"" Jan 20 A1+ Unsecur NA ICICI ICRNC

ed Bank RISIL

8 INE245A14CP0 88 5.71% 500 9th Dec 19 oeth Mar 20 A1+ Unsecur NA ICICI ICRNC

ed Bank- RISIL

9 INE245A14CQ8 70 5.56% 500 12m Dec 19 20th Feb 20 A1+ Unsecur NA ICICI ICRNC

ed Bank RISIL

10 INE245A14CR6 176 6.74% 500 17'h Dec 19 10'" June 20 A1+ Unsecur NA ICICI ICRNC

ed Bank RISIL

11 INE245A14CS4 180 6.64% 500 20th Dec 19 17'h June 20 A1+ Unsecur NA ICICI ICRNC

ed Bank RISIL

G TATA

Annexure 3

Details of Short Term facilities as on December 31, 2019 Secured /Unsecured Facilities As on 31st December 19

Lender's Nature of Amount Principal Security if Name/Na security/instr sanctioned amount Applicable me of the ument outstan Bank ding

SBI Fund Based 100 60 Secured

Secured

Fund Based - - -

Unsecured

Non-Fund 1300 655 Secured

Based

Secured

Non-fund 675 - Secured

Based

Unsecured

ICICI Bank Fund Based so - Secured

Secured

Fund Based 350 - Unsecured

Unsecured

Non-Fund 400 - Secured

Based

Secured

Non-fund 1100 600 Unsecured

Based

Unsecured

IDBI Bank Fund Based 100 - Secured

Secured

Fund Based - - -

Unsecured

Non-Fund - - -

Based

Secured

Non-fund 300 2 Unsecured

Based

Unsecured

HDFC Fund Based - - -

Bank Secured

Fund Based 1400 890 Unsecured

Unsecured

- - -

Sched Credit Asset ule Rating. Classificati date if on of applica Payme ble nt

NA NA Standard

- - -

NA NA Standard

NA NA Standard

NA NA Standard

NA NA Standard

NA NA Standard

NA NA Standard

,

NA NA Standard

- - -

- - -

NA NA Standard

- --

NA NA Standard

- - -

& TATA

Non-Fund - - - - - -

Based

Secured

Non-fund

Based

Unsecured

Fund Based - - - - - -

Secured


Unsecured

Non-Fund - - - - - -

Axis Based

Secured

Non-fund 200 - Unsecured NA NA Standard

Based

Unsecured


Secured

Fund Based 25 2 Unsecured NA NA Standard

Unsecured

Citibank Non-Fund - - - - - -

Based

Secured

Non-fund - - - - - -

Based

Unsecured


Secured

Fund Based 225 - Unsecured NA NA Standard

Unsecured

!{otak Non-Fund - - - - - -

Based

Secured

Non-f.und - - - - - -

Based

Unsecured


Secured


Unsecured

Bank of Non-Fund . .

- - - - - -

America Based

Secured

Non-fund - - - - - -

Based

Unsecured

lnduslnd Fund Based - - - - - -

Secured

G TATA

Fund Based 100 - Unsecured NA NA Sta"ndard

Unsecured

Non-Fund - - - - - -

Based

Secured

Non-fund 390 206 Unsecured NA NA Standard

Based

Unsecured

Fund Based - - Secured NA NA Standard

Secured

Fund Based 190 - Unsecured NA NA Standard

Unsecured

Non-Fund - - - - - -

DBS Based

Secured

Non-fund - - - - - -

Based

Unsecured


Secured


Unsecured

IDFC Non-Fund - - - - - -

Bank Based

Secured

Non-fund 500 - Unsecured NA NA Standard

Based

Unsecured


Secured


Unsecured

Standard Non-Fund - - - - - -

Chartered Based

Secured

Non-fund - - - - - -

Based

Unsecured

.r. TATA

Annexure 4

Name of the Company --eorrowtngs Longterm AmountlnFC lnclrac:t Exposure. Borrowings+

Current MIIIUtltles

Bhira Investments Ltd. Tenn Loans from Banks 1,451.01 USO 245,750,000 USD204.75

Khopoli Investments Ltd. Term Loans from Banks 1,823.07 USO 257,250,000 USO 257.25

Trust Energy Resources Pt Tenn Loans from Banks 483.60 USD68248084 USO 68.24

Tata Power Renewable NCO 1075 NA 1,075.00 Enerav Limited

Tata Power Renewable HDFC Loan 500 NA 500.00 Enerciv Limited

Tata Power Renewable Axis Loan 500 NA 500.00 Energy Limited

WREL NCO 1,240.00 NA 1,240.00

WREL Welspun Renewable Energy Pvt NA -

Ltd (KN) Refinanced Thru YBL WREL OD/BG 31.00 NA 31.00

Coastal Gujarat Power Ltd State Bank of India -BG 68.46 NA 68.46 Coastal Gularal Power ltd State Bank of India - LC 882.17 NA 882.17 Coastal Gujarat Power Ltd ICICI ( Buvers credlV LC) 926.86 NA 926.86 Coastal Gujarat Power Ltd Axis Bank (OD) 64.47 NA 64.47 Coastal Gujarat Power Ltd lndusind Bank Ltd - NA -

Coastal Gujarat Power Ltd lndusind Bank Ltd 239.99 NA 239.99 Coastal Gujarat Power Ltd LC's assigned from TPCL Limit 64.00 NA 64.00

Coastal Gujarat Power Ltd IDFC Sub Debt NA -

Coastal Gujarat Power Ltd IDFC Sub Debt NA -

Coastal GujaraLPower Ltd short term 200.00

Coastal Guiarat Power Ltd TATA CAPITAL NA -

Coastal Gujarat Power Ltd IFCI NA -

Coastal Gujarat Power Ltd . HDFC Ltd 500.00 NA 500.00 Coastal Guiarat Power Ltd NCO 3,100.00 NA 3,100.00 Coastal Gujarat Power Ltd NCO 1,224.00

Coas\al Gujarat Power Ltd GP 350.00

TPSSL (short term loans) Commercial Papers 275.00 NA 275.00

Chirasthayee Saurya Limited Term Loans from Banks 272.12 NA 272.12

Energy Eastern pie Letter of Credit 0 USO 59 Millions USO 59 Millions

Details of current tranche:

Issue reference

ISIN

Amount

Date of Issue

Maturity Date

Credit Rat_ings Issued by CRA Credit Rating Date of Rating Validity Period Details of issuing and payirig agent

.,.. TATA

Annexure 5

: TPCP0180

: INE245A14DB8

: � 5,00,00,00,000/

: 20th March 2020

: 22nd May 2020

( 1) (2) ICRA CRISIL

A1+ A1+ 06th March 2020 06th March 2020

3 months 60 calendar days ICICI Bank Limited, ICICI Centre 163, H.T. Parekh Marg, Churchgate, Mumbai -400 020

• TATA

Certified True Copy of Resolution passed by the Committee of Executive Directors of the Board on 71h August 2018

'RESOLVED that approval be and is hereby granled•to the Company to issue Commercial Paper (CP.s) such that outstanding at.any point of time Is not more than f'7,000 crore (rollover of existing CPs for a tenor of upto 12 months) and al .an all-inclusive cost not exceeding the lowest working capital facility available for the Company i.e. 6.15%.

FURTHER RESOLVED that .approval be and Is hereby granted to the Company to incur necessary casts towards charges, stamp duty, commission, fees, etc. for issuance of such CPs.

FURTHER RESOLVED lhat Mr. Ramesh N. Subramanyarn, Chief Financial omc·er, Mr. Kaslurf Soundararajan; ,Chief-Corparale Treasury & Investor Relations, Mr. Anand Agarwal. Financial Controller & Chief - Subs. Fin .. and Mr. Arun Viswanathan, Group Head-Treasury of the Company be and are hereby �.eve rally aul�orlzed to:

i) negotiate and llnallze, with any Issuing and Paying Agent (IPA) the modalities of the Issueincluding the interest rate, appoint the Registrar and Transfer Agent (RTA) and finalize allother related matters connected with the Issue and subsequent roll-over and Issuesincluding entering fnlo agreements, if requlreci, with the IPA and RTA and to do all such acts.deeds, mal1er and things as may be necessary In connection with the Issue of the CPs andto execute and sign the CP agreements with issuing and paying agent(s), standbyagreemen,l and/or any Q!her connected documents; and

ii) to sign all forms. agreements, other deegs, documents, undertakings, cleclaration. lettersand such other papers as may be necessary, desirable and expedient In connection with theissue.

FURTHER RESOLVED that the Common Seat of the Campany be affixed to any such documents, if required, in accordance with its Articles of Association.

FURTHER RESOLVED that In terms of Article 179 of the Company's Articles of Association, the following Officers of the Company be and are hereby severally authorized to sign as 'Authorized Signatory' any of the above documents to which the Common Seal of the ,Comp�ny is·afflxed, along with a Director of the Company:

Mr. Ramesh N. Subramanyam, Chief Financial Officer Mr. Kasturl Soundararajan Chief-Corporate Treasury & Investor Relations Mr. Anand Agarwal, Chief-Strate·gio Finance Mr. Jeraz E. Mahernosh, Group Head - Secretarial

FURTHER RESOLVED that lhe Company be and is hereby authorized to take its Common Seal out of Its Registered Office to any destination for the purpose of affixatlon thereof an any such documents."

For The Jata Power Company Limited

. rt-M.��d-

TATA POWER

Company Secretary FCS Na.3606

The Tata Power Company Limited Bombay House,

24, Homi Mody Street, ·Mumbai 400 001

The Tola.Power Company Limited

Heqlc,r�1�d·orfice fio111bay Hous� 24 Harni Mod/ Street MurntJJi ➔UO OtJ 1

Annexure 6

SI. ISIN No.

1 INE245A14Al.9 2 INE245A14AJ7 3 INE245A14AL3 4 INE245A14AK5

5 INE245A14AM1 6 INE245A14AN9

7 INE245A14AO7 8 INE245A14AP4 9 INE245A14AR0

10 I NE245A 14AQ2 11 INE245A14AS8

12 INE245A14AT6 13 INE245A14AU4 14 INE245A14AV2 15 INE245A14AW0 16 INE245A14AX8 17 INE245A14AY6 18 INE245A14AZ3 19 INE245A14BA4 20 INE245A14B82 21 INE245A14BC0 22 .INE245A14BD8 23 INE245A148E6 24 INE245A14BF3 25 INE245A14BG1 26 INE245A14BH9 27 INE245A14Bl7 28 INE245A 14BJ5 29 INE245A14BK3 30 INE245A14BL1 31 INE245A14BM9 32 INE245A14BN7 33 INE245A14BO5 34 INE245A14BP2 35 INE245A14BQ0 36 INE245A14BR8 37 INE245A14BS6 38 INE245A14BT4 39 INE245A14BU2 40 INE245A14BV0 41 INE245A14BW8 42 INE245A14BX6 43 INE245A14BY4 44 INE245A 14BZ1 45 INE245A14CA2 46 INE245A14CB0 47 INE245A14CC8

48 INE245A14CD6 49 INE245A14CE4 50 INE245A14CF1 51 INE245A14CG9 52 INE245A14CH7 53 INE245A14Cl5 54 INE245A14CJ3 55 INE245A14CK1 56 INE245A 14Cl9 57 INE245A14CM7 58 INE245A 14CN5 59 INE245A14CO3 60 INE245A14CP0

Date of Issue

4'" Dec 18 13th Dec 18

19th Dec 18 26th Dec 18

10'" Jan 19 15'" Jan 19

24th Jan 19 29'" Jan 19 31" Jan 19 31st Jan 19 11th Feb 19

14th Feb 19 22nd Feb 19 28th Feb 19 1st Mar 19

15th Mar 19 18th Mar 19 20'" Mar 19 29th Mar 19 10'" Apr 19 22"" Ap 19 26th Ap 19 T" May 19

13th May 19 20'" May 19 21st May 19

2T" May 19 29'h May 19 6'" June 19 13'" June 19 18th June 19 24'" June 19 2rn June 19 9th July 19

12th July 1918th July 19 23"' July 19 26"' July 19 30th July 19 01st Aua 19 13'h Auo 19 20th Aug 1923'" Aug 19 29'" Aug 19 9th Sept 19 13'" Sep 19

. 1T" Sep 19

20th Sep 19 23"' Sep 19 24th Sep 19 26th Sep 19 27'" Sep 19 18'" Oct 19 24th Oct 19 29th Oct 19 30th Oct 19 14'" Nov 19 15th Nov 19 15th Nov 19 9'" Dec 19

Amount (in

crore)

500 500

600 500

500 500

500 200 300 300 500

300 500 300 500 500 500 500 400 400 500

500 300 300 500 200 500 300 500 500 500 500 500 500 500 500 500 300 500 500 300 500 300 500 500. 500 500

500 500 500

500 300 500 500 500 500 500 300 200 500

.,.. TATA

Annexure 7

Date of Amount IPA CRA Rating Maturity outstandin

(in crore) 27'" Feb 19 - ICICI Bank IC RA/CRIS IL A1+ 12'" Mar 19 - ICICI Bank ICRA/CRISIL A1+

18th Mar19 - ICICI Bank IC RA/CRIS IL A1+ 22"" Mar 19 - ICICI Bank ICRA/CRISIL A1+

19'"June 19 - ICICI Bank ICRA/CRISIL A1+ 2T" Mar 19 - ICICI Bank ICRA/CRISIL A1+

23'" April 19 - ICICI Bank ICRA/CRISIL A1+ 29"' April 19 - ICICI Bank ICRA/CRISIL A1+ 30th April 19 - ICICI Bank ICRA/CRISIL A1+ 25'hJune19 - ICICI Bank ICRA/CRISIL A1+ 11'" April 19 - ICICI Bank ICRA/CRISIL A1+

14"' Mav 19 - ICICI Bank ICRA/CRISIL A1+ 22"" May 19 - ICICI Bank ICRA/CRISIL A1+ 28th May 19 - ICICI Bank ICRA/CRISIL A1+

· 30th Mav 19 - ICICI Bank ICRA/CRISIL A1+ 14'"Jun 19 - ICICI Bank ICRA/CRISIL A1+

orn Jun 19 - ICICI Bank · ICRA/CRISIL A1+ 30th Julv 19 - ICICI Bank ICRA/CRISIL A1+ 21st June 19 - ICICI Bank ICRA/CRISIL A1+ 28'"June 19 - ICICI Bank ICRA/CRISIL A1+ 19th July 19 - ICICI Bank ICRA/CRISIL A1+

24'" Julv 19 - ICICI Bank ICRA/CRISIL A1+ 26'" July 19 - ICICI Bank ICRA/CRISIL A1+ 15'" July 19 - ICICI Bank ICRA/CRISIL A1+ 10th July 19 - ICICI Bank ICRA/CRISIL A1+ 5'" July 19 - ICICI Bank ICRA/CRISIL A1+

14th Aug 19 - ICICI Bank ICRA/CRISIL A1+ 26th Auq 19 - ICICI Bank ICRA/CRISIL A1+ 21stAug 19 - .ICICI Bank ICRA/CRISIL A1+ 30th Aua 19 - ICICI Bank ICRA/CRISIL A1+ 09'"Aug 19 - ICICI Bank ICRA/CRISIL A1+ 10'" Sep 19 - ICICI Bank ICRA/CRISIL A1+ 18'" Sep 19 - ICICI Bank ICRA/CRISIL A1+ 23'" Sep 19 - ICICI Bank ICRA/CRISIL A1+ 27'" Sep 19 - ICICI Bank ICRA/CRISIL A1+ 13th Sep 19 - ICICI Bank ICRA/CRISIL A1+ 25'" Sep 19 - ICICI Bank ICRA/CRISIL A1+ 30th Sep 19 - ICICI Bank ICRA/CRISIL A1+ 25'" Oct 19 - ICICI Bank ICRA/CRISIL A1+

30'"-Oct 19 - ICICI Bank ICRA/CRISIL A1+ 14'n ·act 19 - ICICI Bank ICRA/CRlSIL A1+ 21st Oct 19 - ICICI Bank ICRA/CRISIL A1+

1r" Oct 19 - ICICI Bank ICRA/CRISIL A1+ 29'" Oct 19 - ICICI Bank ICRA/CRISIL A1+

06th Dec 19 - ICICI Bank ICRA/CRISIL A1+ 29th Nov 19 - ICICI Bank ICRA/CRISIL A1+ 13th Dec 19 - ICICI Bank ICRA/CRISIL A1+

18th Dec 19 - ICICI Bank IC RA/CRIS IL A1+ 22nd Nov 19 - ICICI Bank ICRA/CRISIL A1+ 23'" Dec 19 - ICICI Bank ICRA/CRISIL A1+ 23"' Mar20 500 ICICI Bank ICRA/CRISIL A1+ 15th Nov 19 - ICICI Bank ICRA/CRISIL A1+

15'" Jan 20 - ICICI Bank ICRA/CRISIL A1+ 18th Mar 20 - ICICI Bank ICRA/CRISIL A1+ 10'" Dec 19 - ICICI Bank ICRA/CRISIL A1+ 2'71" Jan 20 - ICICI Bank ICRA/CRISIL A1+ 11'" Feb 20 - ICICI Bank ICRA/CRISIL A1+ 11'" Mar 20 - ICICI Bank ICRA/CRISIL A1+ 22"" Jan 20 - ICICI Bank ICRA/CRISIL A1+ 06th Mar 20 - ICICI Bank ICRA/CRISIL A1+

.,. TATA

61 INE245A14CQ8 12th Dec 19 500 201" Feb 20 - IClCI Bank ICRNCRlSIL A1+

62 INE245A14CR6 17'" Dec 19 500 10th June 20 500 ICICI Bank lCRNCRISlL A1+

63 INE245A 14CS4 20th Dec 19 500 17th June 19 500 lClCI Bank ICRNCRlSIL A1+

64 INE245A14CT2 14th Jan 20 500 09th April 20 500 IClCl Bank ICRNCRISlL A1+

65 INE245A14CUO 21" Jan 20 500 17th April 20 500 ICICI Bank lCRNCRISIL A1+

66 INE245A14CV8 24th Jan 20 500 27'" May 20 500 ICICI Bank ICRNCRISIL A1+

67 INE245A14CW6 03"' Feb 20 500 29th April 20 500 · ICICI Bank ICRNCRISIL A1+

68 INE245A14CX4 10th Feb 20 500 08th May 20 500 ICICI Bank ICRNCRISIL A1+

69 INE245A14CY2 05'" Mar 20 500 02nd June 20 500 lClCI Bank ICRNCRISIL A1+

70 INE245A14CZ9 09., Mar20 500 08th June 20 500 ICICI Bank ICRNCRISIL A1+

71 INE245A 14CZ9 11'" Mar 20 100 08thJune 20 100 ICICI Bank ICRNCRISIL A1+

72 INE245A14DA0 17'" Mar 20 500 18th May 20 500 ICICI Bank ICRNCRISIL A1+

1.

2..

3,

4.

5.

6. 7, 8 .

9. 10.

11 ,

12. 13. 14,

15

16,

17. 18.

Tl\TI\ POWER The Tata Power Company Limited

Bombay House, 24 Homi Mody Street, Mumbai 400 001 Website: wwwJatapower.com

CIN: L28920MH1919PLC000567

STATEMENT OF CONSOLIDATED FINANCIAL RES UL TS FOR THE QUARTER/NINE MONTHS ENDED 31ST DECEMBER, 2019

Particulars (Refer Notes Below)

lncorne i) Revenue from Operations [Refer Note 3, 4 (c) and 8] ii) Other Income Total Income Expenses i) Cost of power purchased ii) Cost of fuel [Refer Note 4 (c)] iii) Transmission charges iv) Raw material consumed v) Purchase of finished goods and spares vi) Decrease/( Increase) in stock-in-trade and work-in-progress vii) Employee benefits expense viii) Finance costs (Refer Note 2) ix) Depreciation and Amortisation expenses (Refer Note 2) x) Other expenses Total Expenses Profit/(Loss) before Regulatory Deferral Balances, Exceptional Items, Tax and Share of Profit of Associates and Joint Ventures (1-2)

Add/(Less): Net movement in Regulatory Deferral Balances Addl(Less): Net movement in Regulatory Deferral Balances in respect of earlier years Addl(Less): Deferred Tax Recoverable/(Payable) (Refer Note 3) Profitl(Loss) before Exceptional Items, Tax and Share of Profit of Associates and Jolnt Ventures (3+4)

Share of Profit of Associates and Joint Ventures accounted for using the Equity Method Profit before Exceptional Items and Tax (5+6) Addl(Less): Exceptional Items

Standby Litigation [Refer Note 4 (a)] Reversal of Impairment for Investment in Joint Venture & related obligation [Refer Note 4 (b)] Provision for Contingencies [Refer Note 4 (c)] Gain on Sale of Investment in Associates [Refer Note 4 (d)] Impairment in respect of Other Property, Plant and Equipment and Goodwill [Refer Note 4 (e)]

Profit before Tax (7+8) Tax Expense/(Credit) (Refer Note 3, 6 and 9)

Current Tax Deferred Tax Deferred Tax Expense In respect of earlier years

Net Profit for the Period from Continuing Operations (9-10) Profit/(Loss) before tax from Discontinued Operations Tax Expense/(Credit) on Discontinued Operations Profitl(Loss) for the Period from Discontinued Operations Profit for the Period (11+12) Other Comprehensive lncome/(Expenses) including Discontinued Operations (i) Items that will not be reclassified to profit or loss (ii) Tax relating to items that will not be reclassified to profit or loss

(iii) Share of Other Comprehensive lncomel(Expense) that will not be reclassified to profit or loss of Associates and Joint Ventures accounted for using the Equity Method

(iv) Items that will be reclassified to profit and loss (v) Income tax relating to items that will be reclassified to profit or loss

(vi) Share of Other Comprehensive lncomel(Expense) that will be reclassified to profit or loss of Associates and Joint Ventures accounted for using the Equity Method

Total Comprehensive Income (13+14)

Profit/(Loss) for the Period attributable to: Owners of the Company Non-controlling Interests

Others Comprehensive lncome/(Expense) attributable to: Owners of the Company Non-controlling Interests

Total Comprehensive Income attributable to: Owners of the Company Non-<:antrolling Interests

Paid-up equity share capital (Face Value: ~ 11- per share) Total Reserves Basic and Diluted Earnings Per Equity Share (of' 1/- each) (f) (i) From Continuing Operations before net movement in regulatory deferral balances (Refer Note 3) (ii) From Continuing Operations after net movement in regulatory deferral balances (iii) From Discontinued Operations (iv) Total Operations after net movement in regulatory deferral balances

SIGNED FOR IDENTIFICATION

BY <1 SR BC & CO LLP

MUMBAI

Quarter ended Nine months ended 31-Dec-19 I 30-Se<>-19 31-De<:-18 I 31-Dec-1 9 J1 -DeC-18 I [l)naudlled) (Unaudited) (Unaudited) I (Unaudll@d) (Unaudlledl I

({ crorel

7,071 .0J 7,677,82 7,982.61 22.515.57 22,651 22 65.01 226.21 14.B1 399.14 209.18

7,136.04 7,904 .0l 7 ,997 .~2 22,914.71 22,860.40

1,576.51 1,719.78 1,446.21 4,932.29 4.880 .48 2,497 .58 2,330.1 2 3,189.87 7,496.38 8,400.92.

53.50 53.62 49.47 160.65 199.95 212,t6 375.66 364.37 748.63 892.80

807 25.13 149.61 76.17 279,73 (11.25) (6.95) 13.31 (16.i'll) (37.68) 307.n 359,59 339.2d 1,075.04 1.014.57

1,129.24 1,129.95 1,01 3.96 3,403.07 3,061 .34 671.87 654.44 602.74· 1.5146 26 1,789.68 561 .72 664.84 552.93 1,680.14 1,623.59

7,067 .17 7.206 .18 7,721 .71 21,501.84 22,105.38

68.87 697.85 275.71 1,412.87 755.02 19.55 (438.35) (136.01 ) (677.29) (683.50)

- . 274.26 80.67 89.37 63.95 228.53 146.42

169.09 348.87 203.65 964.11 492.20

179.99 193.1 1 252.62 613.80 1,054-33 349.08 541.98 456.27 1,577.91 1.546.53

. - (328.97) . - - 235.00 . - - - - . - - - - 1.897.24

- -349.08 541 .98 456.27 1,483.94 3,443 .77

72.50 100.65 192.98 430.76 375.1 3 45.08 85.01 (0.49) 215.4< 5801 7

(27.!14) - 10.00 (27.94) 10,00 259.« 356.32 253.78 865.70 2,478 .47 (21.21 ) (8.47) (52.24~ (Sg,10 (1 54.58)

(7.41 (2.96) (18 .. 2.5 (20.65 (54.01 ) (13.BO) (5..51) (33.99) (38 .45) (100.57) 245.!14 350.81 219.79 827.25· 2,377.90

(8 .02) (74.04) 8.20 (72.86) (7.8 1) 0 .57 19.68 0.08 20.30 (2.30)

(0.89] (0.96) (2.051 (3.94) 8.41 46.71 70.35 (107. 13) 103.40 207.15

- - -

Z3. 79 140.GI (194.77 156.46 71.7 1 62.16 155.64 f2.95.671 203.36 277.16

307.80 506.45 (75.88) 1,030.61 2,655 .06

176.Be 270.17 141 .86 600.30 2,178.17 66.78 80.64 77.93 226.95 199.73

62.63 156.62 (2.95.54) 205.03 277.55 (0 ,47) (0 .98 ) (0. 13) (1 .67) (0.39)

241 .49 426.79 (153.68) 805.33 2,455.72 66.31 79.66 77.80 225.28 199.34

270.50 270.50 270.50 270.50 270.50

0.31 1,64 0.66 2.96 8.57 0.55 0 .80 0.49 1.88 7.94

(0.05) (0 .02) (0.1 2) (0.14) (0.37) ().50 o .. 1a 0.37 1.74 7.57

Year ended 31 -Mar-19

Audited

29,881.06 395.83

30,276.89

6,359.53 11 ,640.02

248.23 91 9.35 345.22

24.37 1,339.05 4,1 70.00 2,393.13 2,260.15

29,699.05

577.84 (340 .19)

274.26 169.20 681.11

1.287.02 1,968,13

--(45:00)

1,897.24 (106.41' 3,713.96

524.66 544.02

18,91 2,626.37 (191 .82) (65.98)

(125.84) 2,500.53

(51 ,76) 7.1 5

(1 ,37) 187.18

23.24 164.44

2.664.97

2,251 .08 249.47

11!4.1!7 (0.43}

2,41 5.93 249.04

270.50 16.450.66

7.9() 8.15

(0.46) 7.69

Annexure 8

TATA POWER The Tata Power Company Limited

Bombay House, 24 Homi Mody Street, Mumbai 400 001 Website: www tatapower:com

CIN: L28920MH1919PLC000567

CONSOLIDATED SEGMENT INFORMATION


Segment Revenue [Refer Note 3, 4 (c) and 8] Generation Renewables Transmission and Distribution Others

Less: Inter Segment Revenue Total Segment Revenue

Discontinued Operations # Revenue/Income from Operations {including Net movement in Regulatory Deferral Balances}

Segment Results Generation Renewables Transmission and Distribution Others

Total Segment Results

Less: Finance Costs Less: Exceptional Item - Generation [Refer Note 4(a) & 4(c)] Less: Exceptional Item - Transmission and Distribution [Refer Note 4(e)] Add/( Less): Exceptional Item - Unallocable lncome/(Expense) [Refer Note 4 (b) & 4 (d)] Add/(Less): Unallocable Income/ (Expenses) (Net) Profit before tax from Continuing Operations Loss before tax from Discontinuing Operations

Segment Assets Generation Renewables Transmission and Distribution Others Unallocable • Assets classified as held for sale #

Total Assets

Segment Liabilities Generation Renewables Transmission and Distribution Others Unallocable• Liabilities classified as held for sale#

Total Llabilltles

Quarter ended 31-Dec-19 30-Seo-19 Unaudited /Unaudited)

3,664.24 3,396.38 878.50 1,165.37

3,101.12 3,207.63 75.02 53.40

7,718.88 7,822.78 (537.48) 1507.35\

7,181.40 7,315.43 47.21 85.38

7,228.61 7,400.81

714.56 585.23 308.30 417.55 455.61 501 11

25.31 1.44 1,503.78 1,505.33

(1,129.24) (1,129.95) - -

-

- -

(25.46) 166.60 349.08 541.98 (2121) (8.47)

40,871.96 40,812,86 19,285.34 18,954,39 17,506.62 17,433,99

716.77 536,29 6,375.25 6,563 75 2189.31 2 149.68

86,945.25 86,450.96

3,842.06 3,248.57 1,231.12 1,366.17 5,109.60 4,788.65

114.38 125.20 54,956.46 55,426.90

986.21 1 012.99 66,239.83 65.968.48

� aore Nine months ended Year ended

31-Dec-18 31-Dec-19 31-Dec-18 31-Mar-19 /Unaudited) I /Unaudited) I (Unaudited} /Audited)

4,305.72 10,948.67 11,346.98 15,645.16 877.33 3,009.52 2,905.41 3,610.39

3,005.76 9,458.22 9,460.93 12,398.17 60.75 184.24 175.37 234.03

8,249.56 23,600.65 23,888.69 31,887.75 1319.70\ 11,540.45) 11,496.26) (1.904.11)

7,929.86 22,060.20 22,392.43 29,983.64 24.31 165.52 79.88 143.59

7,954.17 22,225.72 22,472.31 30,127.23

663.29 2,115.52 1,928.95 2,486.61 252.09 1,174 91 1,069.32 1,426.85 622.61 1,475.98 1,621,73 2,126.99

16.73 36.28 41.57 53.95 1,554.72 4,802.69 4,661.57 6,094.40

(1,013.96) (3,403.07) (3,061.34) (4,170.00) - (328.97) - (45.00) - - (106.41) - 235.00 1,897.24 1,897.24

(84.49) 178.29 (53.70) 43.73 456.27 1,483.94 3,443.77 3,713.96 (52.24) 159.10) 1154.581 1191.82)

41,353.50 40,871.96 41,353.50 39,842.59 16,787.11 19,285,34 16,787.11 18,315.93 16,959.28 17,506 62 16,959,28 17,338.05

465.36 716.77 465.36 477.45 5,490.98 6,375 25 5,490.98 6,040.26 2 057.28 2189,31 2.057.28 2 064.30

83,113.51 86,945.25 83,113.51 84,078.58

4,696.88 3,842.06 4,696.88 4,149.69 1,403.50 1,231.12 1,403.50 1,588.46 5,075.41 5,109.60 5,075.41 4,846.36

112.54 114.38 112.54 138.16 50,417.71 54,956.46 50,417.71 52,001.82

989.30 986.21 989.30 966.27 62,695.34, 66,239.83 62,695.34 63,690.78

Generation: Comprises of generation of power from hydroelectric sources and thermal sources (coal, gas and oil) from plants owned and operated under lease arrangement and related ancillary services. It also comprises of coal - mining, trading, shipping and related infra business. Renewables: Comprises of generation of power from renewable energy sources i,e. wind and solar. It also comprises EPC and maintenance services with respect to solar.

Transmission and Distribution: Comprises of transmission and distribution network, sale of power to retail customers through distribution network and related ancillary services. It also comprises of power trading business Others: Comprises of project management contracts/infrastructure management services, property development, lease rent of oil tanks, satellite communication and investment business

RECONCILIATION OF REVENUE

Particulars

Revenue from Operations [Refer Note 3, 4(c) and 8] Add/(Less): Net movement in Regulatory Deferral Balances Add/(Less): Net movement in Regulatory Deferral Balances in respect of earlier years Add/(Less): Deferred Tax Recoverable/(Payable) (Refer Note 3) Add/(Less): Unallocable Revenue Total Segment Revenue Discontinued Operations- Others# Total Segment Revenue as reported above

# Pertains to Strategic Engineering Division being classified as Discontinued Operations. • Includes assets held for sale other than Strategic Engineering Division.


BY CP SR BC & CO LLP

MUMBAI

31-Dec-19 IUnau.ditedl

7,071.03 19.55

-

80.67 10,15

7,181.40 47,21

7,228.61

a uarter ended 30-Sep-19

/Unaudited\ 7,677.82 (438,35)

-

89.37 (13.41)

7,315.43 85.3B

7,400.81

Nine months ended Year ended 31-Dec-18 31-Dec-19 31-Dec-18 31-Mar-19

(Unaudited\ /Unaudited) /Unaudited) I Audited) 7,982.61 22,515.57 22,651.22 29,881.06 (136.01) (677,29) (683.50) (340.19)

- - 274.26 274,26 63.95 228.53 146,42 169.20 19.31 (6.61) 4.03 10.69)

7,929.86 22,060.20 22,392.43 29,983.64 24.31 165.52 79.BB 14359

7,954.17 22,225.72 22,472.31 30,127.23

NOTES TO THE CONSOLIDATED FINANCIAL RESULTS - Q3 FY20

1.

2.

3.

4.

The above Consolidated financial results of The Tata Power Company Limited (the Group) were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 29th January, 2020. The Group has applied Ind AS 116 'Leases" (Ind AS 116) using modified retrospective approach, under which the cumulative effect of initial application is recognized as at 1st April, 2019. On adoption of Ind AS 116, the Group has recognized 'Right-of-use' assets amounting to � 3,786 crore (including reclassification of lease prepayment from other assets amounting to � 341 crore) and 'Lease liabilities' amounting to � 3,469 crore (including reclassification of lease liability from trade payables amounting to � 24 crore) as at 1st April, 2019. Had the Group continued to apply previous lease accounting standard, finance costs and depreciation would have been lower by� 227 crore (Quarter ended 31st December, 2019, � 82 crore) and� 137 crore (Quarter ended 31st December, 2019 � 63 crore) respectively and other expenses and profit before tax from continuing operations would have been higher by� 288 (Quarter ended 31st December, 2019 � 120 crore) crore and� 76 crore (Quarter ended 31st December, 2019 � 25 crore) respectively for the period ended 31st December, 2019. There is no impact on retained earnings as at 1st April, 2019.

In the regulated operations of the Group where tariff recovered from consumers is determined on cost plus return on equity, the Income tax cost is pass through cost and accordingly the Group recognizes Deferred tax recoverable/ payable against any Deferred tax expense I income. Until previous year, the same was presented under 'Tax Expenses' in the financial results. During the period ended 31st December, 2019, pursuant to an opinion by the Expert Advisory Committee of The Institute of Chartered Accountants of India, the same has now been included in 'Revenue from Operations' in case of Generation and Transmission business and 'Net Movement in Regulatory Deferral Balances' in case of Distribution business. There is no impact in the Other equity and Profit / (Loss) on account of such change in presentation. Impact of this restatement in the comparative period is as follows:

(� Crore) Particulars Quarter ended Nine months Year ended

ended

31-Dec-18 31-Dec-18 31-Mar-19

Revenue from Operations - Increase/ (Decrease) 275.89 322.81 322.42Movement in Net Regulatory Deferral Balances - Income/ (Expense) 63.95 146.42 169.20Tax (expense) / credit (339.84} (469.23) (491.62) Basic and diluted EPS from continuing operations before movement in regulatory deferral balances - Increase/ (Decrease) (0.16) (0.36) (0.40)

Exceptional Items: a. With respect to standby litigation with Adani Electricity Mumbai Limited (Adani Electricity), the Hon'ble

Supreme Court during the period ended 31st December, 2019, has upheld Appellate Tribunal for Electricity(APTEL) order dated 20th December, 2006 directing the Group to pay � 354 crore along with interest at10% per annum from 1st April, 2004 up to the date of payment. Consequently, the Group has recognizedan expense of � 329 crore net of amount recoverable from customers including adjustment with consumerreserves.

b. During the period ended 31st December, 2019, pursuant to debt restructuring of Adjaristsqali Georgia LLC(AGL) (a joint venture entity), significant progress towards execution of long term power purchaseagreement with Government of Georgia and receipt of insurance claims, the Group has reversed provisionfor financial guarantee obligation and impairment towards its investments in AGL amounting to � 235 crore.

c. During the year ended 31st March, 2019, the Group had decided to avail Government of Maharashtraamnesty scheme with respect to entry tax litigation for settlement of arrears of tax, interest and penalty.Accordingly, the Group has recognized provision towards settlement including provision towards penalty of

� 45 crore. Further during the quarter ended 30th June, 2019, the Group has received final settlement orderunder the said scheme and pursuant to the said order, the Group has reversed the excess provision relateclto entry tax under the head 'Cost of Fuel' and corresponding recovery from customers under the head'Revenue from operations' amounting to � 68 crore.

d. During the year ended 31st March, 2019, the Group had sold its investments in Tata CommunicationLimited and Panatone Finvest Limited (Associate Companies) and recognized a gain on sale of investmentsamounting to � 1,897 crore.

e. During the year ended 31st March, 2019, the Group had recognized an impairment amounting to� 106crore against carrying amount of its Rithala power plant and classified the said plant as asset held for sale.

5. From the current period, the Group has changed its organization structure into various operating verticals forefficient monitoring and pursuing growth. Consequently, reporting to Chief Operating Decision Maker (CODM)has been changed which has resulted into change in the composition of reportable segments. Accordingly,corresponding information for comparative periods have been restated in the segment results.


BY CP

MUMBAI

6.

7.

8.

9.

10.

Pursuant to the amendment in Indian Accounting Standard (Ind AS) 12 "Income Taxes• effective from 1st April 2019, the Group has recognized the income tax consequence on interest on perpetual securities in the profit and loss which was earlier recognized directly in other equity and has restated the figures for previous periods presented. Accordingly, the profit after tax for the year ended 31st March, 2019, for the period and quarter ended 31st December, 2018 is higher by Rs. 60 crores, Rs. 45 crores and Rs.15 crores respectively as compared to previous periods financial results published by the Group. There is no impact on the "Total Reserves" of the Group. Pursuant to the enactment of the Taxation Law (Amendment) Act, 2019 ('Act') which is effective from April 1, 2019, domestic companies have the option to pay income tax at 22% plus applicable surcharge and cess ('new tax regime') subject to certain conditions. Group is in the process of evaluating the option available in the Act. Pending evaluation, most of the Group Companies have not given any effect of the Act in the financial results.

Revenue from operations for the quarter and period ended 31st December 2018 includes regulatory assets on deferred tax liability expected to be recovered from customers amounting to � 272 crore recognized pursuant to extension of power purchase agreement (PPA) for its generating plants for five years w.e.f 1st April 2019.

During the period, the Group has recognized Deferred Tax Liability of� 111 crore on its share of undistributed profit of Joint Ventures.

Resurgent Power Ventures Pte Limited, a joint venture of the Group, has during the quarter ended December 31, 2019, acquired 77% stake (on a fully diluted basis) in Prayagraj Power Generation Company Limited ('PPGCL') at an enterprise valuation of aprox. � 7,000 crores. PPGCL owns and operates 1,980 MW thermal power station located in the state of Uttar Pradesh. The acquisition has been recognised on provisional basis in accordance with Ind AS 103 'Business Combination'

11. Financial Information of the standalone audited financial results of the Holding Company is as follows:(f crore'

Particulars Quarter ended Nine months ended Year ended

31-Dec-19 30-Sep-19 31-Dec -18 31-Dec-19 31-Dec-18 31-Mar-19ContinuinQ Operations Revenue from operations 1,932.22 1,993.21 2,274.80 5,961.97 6,085.81 8,255.25 Profit before regulatory deferral balances, exceptional items and tax 173.79 352.09 545.40 1,141.78 1,183.61 1,325.59 Profit before exceptional items and tax : (2.87) 171.64 389.47 601.67 1,072.11 1,179.01 Profit before tax (2.87) 171.64 389.47 507.70 2,285.10 2,347.00 Net Profit/(Loss) for the period from continuinq operations (20.74) 160.12 304.76 496.51 1,800.11 1,894.54 Discontinued Operations Profit/(Loss) before tax from discontinued operations (21.21) (8.47) (52.24) (59.10) (154.58) (191.82) Profit/(Loss) for the period from discontinued operations (13.80) (5.51) (33.99) (38.45) (100.57) (125.84) Profit/(Loss) for the period 6.94 154.61 270.77 458.06 1,699.54 1,768.70 Other Comprehensive lncome/(Expense) net of tax (8.84) (45.21) (3.33) (45.40) (15.85) {44.64) Total Comprehensive Income (1.90) 109.40 267.44 412.66 1,683.69 1,724.06 Paid-up equity share capital (Face Value: � 1/- per share) 270.50 Total Reserves 13,919.10

12.

13.

Figures for the previous periods/year are re-classified/re-arranged/re-grouped, wherever necessary.

The standalone audited financial results of the Holding Company are available for Investors at www.tatapower.com, www.nseindia.com and www.bseindia.com.

Date: 29th January, 2020


BY

(8

MUMBAI

•T•T.I\TI\

For and on behalf of the Board of THE TATA POWER COMPANY LIMITED

PRAVEER SINHA CEO & Managing Director

DIN 01785164

SR BC & CO LLP 12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West)

Chartered Accountants Mumbai - 400 028, India

Tel : +91 22 6819 8000

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial

Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors


1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of The TataPower Company Limited (the "Holding Company") and its subsidiaries (the Holding Company and itssubsidiaries together referred to as "the Group"), its associates and joint ventures for the quarter endedDecember 31, 2019 and year to date from April 1, 2019 to December 31, 2019 (the "Statement")attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the"Listing Regulations"). ,

2. This Statement, which is the responsibility of the Holding Company's Management and approved by theHolding Company's Board of Directors, has been prepared in accordance with the recognition andmeasurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim FinancialReporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevantrules issued thereunder and other accounting principles generally accepted in India. Our responsibilityis to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements(SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of theEntity" issued by the Institute of Chartered Accountants of India. This standard requires that we planand perform the review to obtain moderate assurance as to whether the Statement is free of materialmisstatement. A review of interim financial information consists of making inquiries, primarily ofpersons responsible for financial and accounting matters, and applying analytical and other reviewprocedures. A review is substantially less in scope than an audit conducted in accordance withStandards on Auditing and consequently does not enable us to obtain assurance that we would becomeaware of all significant matters that might be identified in an audit. Accordingly, we do not express anaudit opinion.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMDl/44/2019 datedMarch 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of theListing Regulations, to the extent applicable.

4. The Statement includes the results of its subsidiaries, associates and joint ventures as per Annexure I

5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based onthe consideration of the review / audit reports of other auditors referred to in paragraph 6 below,nothing has come to our attention that causes us to believe that the accompanying Statement, preparedin accordance with recognition and measurement principles laid down in the aforesaid Indian AccountingStandards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read withrelevant rules issued thereunder and other accounting principles generally accepted in India, has notdisclosed the information required to be disclosed in terms of the Listing Regulations, including the!•, �! in which it is to be disclosed, or that it contains any material misstatement.

� 0 ' �,.,. ,<)'\

'%1 / ,·-o \\ *( MU B I)*)

iO.\. :,) �%'-----/ t

f?!iiJ A �

SR BC & CO LLP, a Limited Liability Partne"rship with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street, Block 'B', 3rd Fleer. Kolkata-700 016

SR 8 C& CO LLP Chartered Accountants

The Tata Power Company Limited Page 2 of 4

6. The accompanying Statement includes audited / unaudited interim financial statements / financialinformation / financial results of five subsidiaries, whose interim financial statements / financialinformation / financial results reflect Group's share of total revenues of Rs. 1,982.12 crores and Rs.7,003.40 crores, Group's share of total net profit after tax of Rs. 97 .25 crores and Rs. 318.48 crores,Group's share of total comprehensive income of Rs. 96.28 crores and Rs. 315.08 crores, for the quarterended December 31, 2019 and for the period from April 1, 2019 to December 31, 2019, respectively,as considered in the Statement, which have been reviewed / audited by their respective independentauditors. The Statement also includes the Group's share of net profit after tax of Rs. 154.62 crores andRs. 506.11 crores and total comprehensive income of Rs. 154.35 crores and Rs. 502. 90 crores, for thequarter ended December 31, 2019 and for the period from December 31, 2019, respectively, asconsidered in the Statement, in respect of one associate and four joint ventures, whose interim financialstatements / financial information / financial results have been reviewed by their respectiveindependent auditors. The independent auditor's reports on interim financial statements / financialinformation / financial results of these entities have been furnished to us by the Management and ourconclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of thesesubsidiaries, joint ventures and associates is based solely on the report of such auditors and proceduresperformed by us as stated in paragraph 3 above.

7. The accompanying Statement of unaudited consolidated financial results include unaudited interimfinancial statements/ financial information/ financial results in respect of nine subsidiaries, which havenot been reviewed / audited by their auditors, whose interim financial statements / financialinformation/ financial results reflect Group's share of total revenues of Rs. 11.72 crores and Rs. 46.95crores, Group's share of total net profit after tax of Rs. 0.20 crores and Rs. 5.39 crores, Group's shareof total comprehensive income of Rs. 0.20 crores and Rs. 5.39 crores, for the quarter ended December31, 2019 and for the period from April 1, 2019 to December 31, 2019, respectively, as considered inthe Statement. The Statement also includes the Group's share of net profit/ (loss) after tax of Rs. 0.06crores and Rs. (0.01) crores and total comprehensive income/ (loss) of Rs. 0.06 crores and Rs. (0.01)crores, for the quarter ended December 31, 2019 and for the period from April 1, 2019 to December31, 2019, respectively, as considered in the Statement, in respect of one associate and thirteen jointventures, based on their interim financial statements / financial information / financial results whichhave not been reviewed/ audited by any auditor. These unaudited interim financial statements/ financialinformation / financial results and other unaudited financial information have been approved andfurnished to us by the Management and our conclusion on the Statement, in so far as it relates to theaffairs of these subsidiaries, joint ventures and associates, is based solely on such unaudited interimfinancial statement / financial results and other unaudited financial information. According to theinformation and explanations given to us by the Management, these interim financial statements /financial information / financial results are not material to the Group.

Our conclusion on the Statement in respect of matters stated in para 6 and 7 above is not modified withrespect to our reliance on the work done and the reports of the other auditors and the financial results/ financial information certified by the Management.

For S R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E 300003

per Partne Membership No.: 112773

UDIN: 20112773AAAAAS2664

Mumbai January 29, 2020

SR BC& CO LLP Chartered Accountants


Annexure - 1 to Limited Review Report

No Name of Entities

A Subsidiaries (Direct)

1 Af-Taab Investments Company Limited

2 Tata Power Solar Systems Limited

3 Tata Power Trading Company Limited 4 Nelco Limited 5 Maithon Power Limited

6 Tata Power Renewable Energy Limited 7 TP Renewable Microgrid Limited

(Formerly known as Industrial Power Utility Limited)

8 Coastal Gujarat Power Limited

9 Bhira Investments Pte Limited (Formerly known as Bhira Investments Limited)

10 Bhivpuri Investments Limited

11 Khopoli Investments Limited

12 Trust Energy Resources Pte. Limited

13 Tata Power Delhi Distribution Limited

14 Tata Power Jamshedpur Distribution Limited 15 Tata Power International Pte. Limited

16 TP Ajmer Distribution Limited

17 Tata Power Green Energy Limited

B Subsidiaries (Indirect)

1 NDPL Infra Limited 2 Energy Eastern Pte. Limited (Merged with Trust

Energy Resources Pte. Limited w.e.f June 10, 2019)

3 Tatanet Services Limited

4 Supa Windfarms Limited

5 Nivade Windfarms Limited

6 Poolavadi Windfarms Limited

7 lndo Rama Renewables Jath Limited

8 Walwhan Renewable Energy Ltd

9 Clean Sustainable Solar Energy Private Limited

10 Dreisatz Mysolar24 Private Limited

11 Ml Mysolar24 Private Limited

12 Northwest Energy Private Limited

13 Solarsys Renewable Energy Private Limited

14 Walwhan Solar Energy GJ Limited

15 Walwhan Solar Raj Limited

16 Walwhan Solar BH Limited

17 Walwhan Solar MH Limited

18 Walwhan Wind RJ Limited

19 Walwhan Solar AP Limited

20 Walwhan Solar KA Limited

c Walwhan Solar MP Limited

u

---�

ActQ

Country of

Incorporation

India

India

India

India

India

India India

India

Singapore

Mauritius

Mauritius

Singapore

India

India

Singapore

India

India

India Singapore

India India

India

India

India

India

India India

India

India

India

India

India

India

India

India

India

India

India

SR BC & CO LLP Chartered Accountants


Page 4 of 4

No Name of Entities

22 Walwhan Solar PB Limited

23 Walwhan Energy RJ Limited

24 Walwhan Solar TN Limited

25 Walwhan Solar RJ Limited

26 Walwhan Urja Anjar Limited

27 Chirasthayee Saurya Limited

28 Nelco Network Products Limited

29 Vagarai Windfarm Limited

30 Walwhan Urja India Limited

31 Far Eastern Natural Resources LLC

C Joint Ventures (Direct)

1 Tubed Coal Mines Limited

2 Mandakini Coal Company Limited

3 Industrial Energy Limited

4 Powerlinks Transmission Limited

5 Dugar Hydro Power Limited

D Joint Ventures (Indirect)

1 PT Mitratama Perkasa

2 PT Kaltim Prima Coal

3 lndoCoal Resources (Cayman) Limited

4 PT lndocoal Kaltim Resources

5 Candice Investments Pte. Ltd.

6 PT Nusa Tambang Pratama

7 PT Marvel Capital Indonesia

8 PT Dwikarya Prima Abadi

9 PT Kalimantan Prima Power

10 PT Baramulti Sukessarana Tbk

11 Adjaristsqali Netherlands B. V

12 Koromkheti Netherlands B. V

13 lndoCoal KPC Resources (Cayman) Limited

14 Resurgent Power Ventures Pte Ltd.

15 Renascent Ventures Private Limited

16 Prayagraj Power Generation Company Limited

E Associates

1 Yashmun Engineers Limited

2 Dagachhu Hydro Power Corporation Limited

Country of

Incorporation

India

India

India

India

India

India

India

India

India

Russia

India

India

India

India

India

Indonesia

Indonesia

Cayman Islands

Indonesia

Singapore

Indonesia

Indonesia

Indonesia

Indonesia

Indonesia

Netherlands

Netherlands

Indonesia

Singapore

India

India

India

Bhutan

(A) 1. 2.

(B) 1.

2.

3. 4.

5. 6.

7. 8

9.

10.

11.

12, 13. 14,

15. 16.


Bombay House, 24 Homi Mody Street, Mumbai 400 001 Website: www tatapower.com

CIN: L28920MH1919PLC000567

STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER/NINE MONTHS ENDED 31ST DECEMBER, 2019

Particulars

Generation Sales

(Refer Notes Below)

Income i) Revenue from Operations (Refer Note 3, 4c and 8) ii) Other Income Total Income Expenses i) Cost of Power Purchased ii) Cost of Fuel (Refer Note 4c) iii) Transmission Charges iv) Employee Benefits Expense v) Finance Costs (Refer Note 2) vi) Depreciation and Amortisation Expenses (Refer Note 2) vii) Other Expenses Total Expenses Profit Before Regulatory Deferral Balances, Exceptional Items and Tax (1-2) Add/ (Less): Net Movement in Regulatory Deferral Balances Add/ (Less): Net Movement in Regulatory Deferral Balances in respect of eartier years Add/ (Less): Deferred Tax Recoverable/(Payable) (Refer Note 3) Profit Before Exceptional Items and Tax (3+4) Add/(Less): Exceptional Items

Reversal of Impairment of Non-current Investments and related obligation (Refer Note 4b) Standby Litigation (Refer Note 4a) Provision for Contingencies (Refer Note 4c) Gain on Sale of Investment in Associates (Refer Note 4d)

Profit Before Tax (5+v) Tax Expense/(Credit) (Refer Note 3 and 6)

Current Tax Deferred Tax Deferred Tax in respect of earlier years

Net Profltl(Loss) for the period from Continuing Operations (7-8) Profit/(Loss) before tax from Discontinued Operations Tax Expense/(Credlt) on Discontinued Operations Proflt/(Loss) for the period from Discontinued Operations Profitl(Loss) for the period (9+10) Other Comprehensive lncomel(Expenses) including Discontinued Operations (i) Items that will not be reclassified to profit or loss (ii) Tax relating to items that will not be reclassrfied to profrt �r loss Other Comprehensive lncome/(Expenses) (Net of Tax) Total Comprehensive Income (11+12) Paid-up Equfty Share Capital (Face Value: f 1/- per share)

Total Reserves Basic and Diluted Earnings Per Equity Share (off 1/- each) (f) (i) From Continuing Operations before net movement in regulatory deferral balances

(Refer Note 3) (ii) From Continuing Operations after net movement in regulalory deferral balances (iii) From Discontinued Operations (iv) Total Operations after net movement in regulatory deferral balances


BY CF-

SR Br. & CO LLP

MUMi:.lAI

31-Dec-19 MUs

2,812 2,853

(Audfted)

1,932.22 1.32

1,933.54

121.63 680.44

53.50 156.68 378.43 188.45 180.64

1,759.75 173.79

(225.96) .

49.30 (2.87)

-

-

-

(2.87)

8.82 (4.49)

(27.94) 20.74

(21.21) (7.41)

(13.80) 6.94

(8.84)

(8.84 11-901

270.50

0.34 (0_08) (0.05) (0.13)

Quarter ended Nine months ended 30-Seo-19 31-Dec-18 31-Dec-19 31-Dec-18

MUs MUs MUs MUs

3,054 2,990 9,046 9,402 3,051 3.041 9.171 9.428

(? In c:rore) (Audited) (Audfted) (Audited) (Audited)

1,993.21 2.274.80 5,961.97 6,085.81 121.07 70.71 496.48 416.73

2,114.28 2,345.51 6,458.45 6,502.54

121.19 99.71 398.58 325.53 707.34 788.98 2,099.20 2,283.09

53.50 48.92 160.50 199.31 154.50 147.18 458.43 443.45 385.38 379.12 1,150.77 1,056.02 162.07 157.25 513,57 472.13 178.21 178.97 535.62 539.40

1,762.19 1,800.11 5,316.67 5,318.93 352.09 545.40 1,141.78 1,183.61

(233.27) (195.64) (676.85) (468.20) . . 274.26

52.82 39 71 136.74 82.44 171.64 389.47 601.67 1,072.11

- . 235.00 .

- . (328.97) . - -

. - - 1,212.�

. - (93_97) 1,212.99 171.64 389.47 507.70 2,285.10

29.33 99.09 38.15 99.09 (17,81) (24.38) 0.98 375.90

10.00 (27.!)4 10.00 160.12 304.76 496.51 1,800.11 (8.47) (52.24) (59.10) (154,58) (2.961 (18.25) {20,65' (54.011 (5.51) (33.99) (38.45) (100.57)

154.61 270.TT 458.06 1,699.54

(63.81) (3.33) (64.00) (13.33) 18.60 - 18.60 (2-52

(45.21 (3.33 (4M01 (15.851 109.40 267.44 412.611 1,683.69 270.50 270.50 270.50 270.50

0.81 1.34 2.66 6.44 0_38 0.96 1.36 6.17

(0.02) (0.12) (0.14) (0.37) 0.36 0,84 1.22 5.80

Year ended 31-Mar-19

MUs

12,186 12.105

(Audlledl

8,255.25 51 6.35

8,771.60

457.02 3,168.27

248.23 637.57

1,500.35 632.70 801.87

7,446.01 1,325.59 (519.03)

274.26 98.19

1,179.01

(45.00) 1,212-99 1,167.99 2,347.00

110.88 331.58

10.00 1,894.54 (191.82)

(65.98) (125.84) 1,768.70

(52.01) 7.37

(44.1;4 1,724_Q6

270.50

13,919.10

6.72 6.36

(0.46) 5.90

Particulars (Refer Note 5)

Segmenl Revenue (Refer Note 3)

Generation (Refer Note 8) Renewables Transmission and Distribution Others

l1Les,): lr,ter SPl.iment R'evenLH!· Total Segmanl Revenue

Olsccntlnt.red 0n4'mtioos- Others It


Bombay House, 24 Homi Mody Street, Mumbai 400 001 Website: www.tatapower,com

CIN: L28920MH1919PLC000567

STANDALONE SEGMENT INFORMATION

Quarter ended 31-Dec-19 30-Sep-19

(Audited) (Audited)

1,084.96 1,100.98 55.98 117.12

971.08 1,059.85 7,73 7,57

2,119.75 2,285,52 1387.48 1478.591 1,732.27 1,806.93

47.21 85.38 Rovcinue / Income from Operations '1ncludlng Net Movement in Rc-guh1t0ry Ooro.rral Balances) 1,779.48 1,892.31

Segment Results Generation (Refer Note 8) 171.66 175.71 Renewables 11.27 69.83 Transmission and Distribution 203.6-1 214,76 Olhe"' 3.42 3.49

Tola! Segment Results 390.19 463.79

(Lass); Finance Costs (378.43) (385.38) Addl(Less): Exceptional Item - Generation (Refer Note 4a and 4c) Ad<ll(L1!5S): Exceptional Item - Unallocable (Refer Note 4b and 4d) A.ddl!lessl: Unanocable JncomeJIExoonsel /Not\ 114.63\ 93,23 Proflt/(Loss) Before Ta,c from Continuing Opc:irations (2.87) 171.64 profltl{Loss) Before Tax from Discontinued Operations (21.21) (8.47)

Se9mont Assets Generation 4,988.72 4,859.32 Renewables 819.51 846.31 Transmission and Distribution 6,182.02 6,158.64 Others 172.83 180.32 Unallocable• 23,029.96 23,316.74 Assets classified as held for sate# 2,189 22 2. 149.68

Total Assets 37,382.26 37,511.01

Sogment LiabilltJes Generation 644.81 563.97 Renewables 18.87 20.84 Transmission and Distribution 1,443.95 1,308.18 Others 14.60 23.81 Unallocable' 18,694,31 18,913.85 Liabilities classrfied as held for sale# 986-21 1,012.99

Total Llabllltles 21,802.75 21,843,64

f ere e r

Nine months ended Year ended 31-Dec-18 31-Dec-19 31-Oec-18 31-Mar-19

(Audited\ (Audited\ (Audited) (Audite<j)

1,506.84 3,341.34 3,830.53 5,263.76 40.89 243.27 229.91 271,40

999.07 3,120.31 3,300.33 4,320.33 4 49 23.31 1.9.39 34.83

2,551.29 6,728.23 7,380.16 9,890.32 /447.59' 11,342.62 11,436.30 (1 825.72 2,103.70 5,385.61 5,943.86 8,064.60

24.31 165.52 79.88 143_59

2,128.01 5,551.13 6,023.74 8,208.19

499.34 563.51 895.68 1,142,85 (6.11) 10592 90,57 82.71

224.51 644.83 815.11 1,049.88 0.49 11.31 8.31 19.42

718.23 1,325.57 1,809,67 2,294.86

(379.12) (1,150.77} (1,056.02) (1,500,35) - (328.97) (45.00) - 235.00 1,212.99 1,212.99

50.36 426.87 318.46 384.50 389.47 507.70 2,285.10 2,347.00 (52.24\ (59.10) (154.58) (191.82)

5,640.08 4,988,72 5,640.0B 5,786.70 894.61 819,51 894.61 857,35

6,369.98 6,182.02 6,369.98 6,427.64 130.88 172.83 130.88 153.51

22,719,17 23,029.96 22,719,17 22,845.08 2 066.44 2.189.22 2006.-1� 2,064.30

37,821.16 37,382.26 37,821.16 38,134.58

1,404.63 644.81 1,404.63 1,360.67 19.30 18.87 19.30 18.50

1,490.58 1,443.95 1,490.58 1,365.92 3.92 14 60 3_92 31.56

18,257.78 18,694.31 18,257.78 18,702.06 989.30 986,21 999_30 966.27

22,165.51 21,802.75 22,165.51 22.44-4.98

Generation: Comprises of generation of power from hydroelectric sources and thermal sources (coal, gas and oil} from plants owned and operated under lease arrangement and related ancillary services.

Renewable.s: Comprises of generation of power from renewable energy sources i.e. wind and solar and related ancHlary services�

Tren�mi:.5ion ond Oi�lribution: Comprites of tram:mission and di&tribution network, sale of power to retail customers through distribution network ;:ind related ancillary services.

Others: Comprises of project management contracts/infrastructure management services, property development and lease rent of oil tanks


Particulars

Revenue lrom Operations Add�Less): Net Movement in Regulatory Deferral Balances Add/(.Less): Net Movement in Regulatory Deferral Balances in respect of earlier

years Add/(L6s): Deferred Tax Recoverable/(Payable) (Refer Note 3) Addl(Less): UnaHocable Revenue TataJ Segment Revenue Dis.continued Operations- Others# Tolol Segment Revenue as raportod above

# Pertains to Strategic Engineering Division being classified as Discontinued Operations. • Includes amount classified as held for sale other than Strategic Engineering Division_


BY (Y SR BC & CO LLP

MUMBAI

Quarter ended 31-Dec-19 30-Sep-19 (Audited) {Audited\

1.932.22 1,993.21 (225.96) (233.27)

49.30 52.82 (23.29) (5.8:J)

1,732.27 1,606.!)J 47.21 8�.38

1,779.48 1,892.31

31-Dec-18 IA_udltedl

2,274,80 (195.64)

39,71 (15.17)

2,103.70 24.31

2,128.01

t'aore Nine months ended Year ended

31-Dec-19 31-Dec-18 31-Mar-19 {Audited} (Audiled) (Audited)

5,961.<:17 6,08S.B1 e,.55.25 (676.85) (468-20) (519.0J)

274,26 274.26 136.74 82,41 98.19 (:lli.25} (30.451 (4•t07)

5.385,61 5,943.86 8,064_60 165.52 79.88 143.59

5,551.13 6,023.74 8,208.19

NOTES TO STANDALONE FINANCIAL RESULTS - QJ FY 20

1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meetingheld on 29th January, 2020.

2. The Company has applied Ind AS 116 'Leases" (Ind AS 116) using modified retrospective approach, underwhich the cumulative effect of initial application is recognized as at 1st April, 2019. On adoption of Ind AS 116,the Company has recognized 'Right-of-use' assets amounting to t 407 crore (including reclassification of leaseprepayment from other assets amounting to � 206 crore) and 'Lease liabilities' amounting to � 225 crore(including reclassification of lease liability from trade payables amounting to� 24 crore) as at 1st April, 2019.

Had the Company continued to apply previous lease accounting standard, finance costs and depreciation would have been lower by � 12 crore (Quarter ended 31st December, 2019: t 10 crore) and � 34 crore (Quarter ended 31st December, 2019: t 28 crore) respectively and other expenses and profit before tax from continuing operations would have been higher by� 44 crore (Quarter ended 31st December, 2019: � 37 crore) and� 2 crore (Quarter ended 31st December, 2019: � 1 crore) respectively for the period 31st December, 2019. There is no impact on retained earnings as at 1st April, 2019.

3. In the regulated operations of the Company where tariff recovered from consumers is determined on cost plusreturn on equity, the Income tax cost is pass through cost and accordingly the Company recognizes Deferredtax recoverable I payable against any Deferred tax expense / income. Until previous year, the same waspresented under 'Tax Expenses' in the financial results. During the period, pursuant to an opinion by the ExpertAdvisory Committee of The Institute of Chartered Accountants of India, the same has now been included in'Revenue from Operations' in case of Generation and Transmission business and 'Net Movement in RegulatoryDeferral Balances' in case of Distribution business. There is no impact in the Other equity and Profit I (Loss) onaccount of such change in presentation. Impact of this restatement in the comparative period is as follows:

Particulars

Revenue from Operations - Increase I

(Decrease)

Movement in Net Regulatory Deferral Balances -

Income/ (Expense)

Tax ( exr:iense) / credit

Basic and diluted EPS from continuing operations before movement in regulatory deferral balances - Increase/ (Decrease)

4. Exceptional items:

Quarter

ended

31-Dec-18

275.89

39.71

(315.60)

(0.10)

(� crore) Nine months Year

ended ended

31-Dec-18 31-Mar-19

322.81 322.42

82.44 98.19

(405.25) (420.61)

(0.20) (0.23)

a. With respect to standby litigation with Adani Electricity Mumbai Limited (Adani Electricity), the Hon'bleSupreme Court during the period ended 31st December, 2019, has upheld Appellate Tribunal for Electricity(APTEL) order dated 20th December, 2006 directing the Company to pay � 354 crore along with interest at10% per annum from 1st April, 2004 up to the date of payment. Consequently, the Company has recognizedan expense of � 329 crore net of amount recoverable from customers including adjustment with consumerreserves.

b. During the period ended 31st December, 2019, pursuant to debt restructuring of Adjaristsqali Georgia LLC(a joint venture of Tata Power International PTE Limited ('TPIPL')), significant progress towards executionof long term power purchase agreement with Government of Georgia and receipt of insurance claims, theCompany has reversed provision for financial guarantee obligation and impairment towards its investmentin wholly owned subsidiary TPIPL amounting to � 235 crore.

c. During the year ended 31st March, 2019, the Company had decided to avail Government of Maharashtraamnesty scheme with respect to entry tax litigation for settlement of arrears of tax, interest and penalty.Accordingly, the Company recognized provision towards settlement including provision towards penalty of

� 45 crore. Further during the quarter ended 30th June,2019, the Company has received final settlementorder under the said scheme and pursuant to the said order, the Company has reversed the excess provisionrelated to entry tax under the head 'Cost of Fuel' and corresponding recovery from customers under thehead 'Revenue from operations' amounting to � 68 crore.


BY (;>

s R sY&co LLP

MUMBAI

NOTES TO ST AND ALONE FINANCIAL RES UL TS - Q3 FY 20

ct. During the year ended 31st March, 2019, the Company had sold its investments in Tata Communication Limited and Panatone Finvest Limited (Associate Companies) and recognized a gain on sale of investments amounting to i!' 1,213 crore.

5. From the current period, the Company has changed its organization structure into various operating verticals forefficient monitoring and pursuing growth. Consequently, reporting to Chief Operating Decision Maker has beenchanged which has resulted into change in the composition of reportable segments. Accordingly, correspondinginformation for comparative periods has been restated in the segment results.

6. Pursuant to the amendment in Indian Accounting Standard (Ind AS) 12 "Income Taxes" effective from 1st April2019, the Company has recognized the income tax consequence on interest on perpetual securities in the profitand loss which was earlier recognized directly in other equity and has restated the figures for previous periodspresented. Accordingly, the profit after tax for the year ended 31st March, 2019, for the period and quarter ended31st December, 2018 is higher by, 60 crores, i!' 45 crores and� 15 crores respectively as compared to previousperiods financial results published by the Company. There is no impact on the "Total Reserves" of the Company.

7. Pursuant to the enactment of the Taxation Law(Amendment) Act, 2019 ('Act') which is effective from April 1, 2019,domestic companies have the option to pay income tax at 22% plus applicable surcharge and cess ('new taxregime') subject to certain conditions. Company is in the process of evaluating the option available in the Act.Pending evaluation, Company has not given any effect of the Act in the financial results.

8. Revenue from operations for the quarter and period ended 31st December, 2018 includes regulatory assets ondeferred tax liability expected to be recovered from customers amounting to i!' 272 crore recognized pursuant toextension of power purchase agreement for its generating plants for five years w.e.f 1 st April 2019.

9. Figures for the previous periods/year are re-classified/re-arranged/re-grouped, wherever necessary

Date: 29th January, 2020


BY (P_ SR BC & CO LLP

MUMBAI

.r. TAT.I\


f> ___ _ PRAVEER SINHA

CEO & Managing Director DIN 01785164


12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028. India

Tel : +91 22 6819 8000

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial

Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015 as amended

To



Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly standalone financial results of The Tata Power Company Limited (the "Company"), for the quarter ended December 31, 2019 and the year to date results for the period from April 1, 2019 to December 31, 2019 (the "Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

i. is presented in accordance with the requirements of the Listing Regulations in this regard;and

ii. gives a true and fair view in conformity with the recognition and measurement principles laiddown in the applicable Indian Accounting Standards and other accounting principles generallyaccepted in India of the total comprehensive (loss) / income (comprising of net profit andother comprehensive loss and other financial information of the Company for the quarterended December 31, 2019 and year to date results for the period from April 1, 2019 toDecember 31, 2019.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the standalone financial results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Standalone Financial Results

These quarterly standalone financial results as well as the year to date standalone financial results have been prepared on the basis of the interim condensed standalone Ind AS financial statements. The Board of Directors of the Company are responsible for the preparation of the Statement that gives a true and fair view of the net profit and other comprehensive loss of the Company and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS -34), 'Interim Financial Reporting' prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles

enerally accepted in India and in compliance with Regulation 33 of the Listing Regulations. --=-"r"""�

,o<

'\ (._ r ,-v

*!MU B J*

l\ ;� ��

5 RB C & CO LLP, a Limited Liability Partn�rshlp with LLP Identity No_ AAB-4318 Regd. Office: 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 016



Page 2 of 3

This responsibility also includes maintenance of adequate accounting records in accordance with

the provisions of the Act for safeguarding of the assets of the Company and for preventing and

detecting frauds and other irregularities; selection and application of appropriate accounting

policies; making judgments and estimates that are reasonable and prudent; and the design,

implementation and maintenance of adequate internal financial controls, that were operating

effectively for ensuring the accuracy and completeness of the accounting records, relevant to the

preparation and presentation of the Statement that give a true and fair view and are free from

material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's

ability to continue as a going concern, disclosing, as applicable, matters related to going concern

and using the going concern basis of accounting unless the Board of Directors either intends to

liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting

process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole are

free from material misstatement, whether due to fraud or error, and to issue an auditor's report

that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee

that an audit conducted in accordance with SAs will always detect a material misstatement when

it exists. Misstatements can arise from fraud or error and are considered material if, individually

or in the aggregate, they could reasonably be expected to influence the economic decisions of

users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain

professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud

or error, design and perform audit procedures responsive to those risks, and obtain audit

evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not

detecting a material misstatement resulting from fraud is higher than for one resulting from

error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or

the override of internal control.• Obtain an understanding of internal control relevant to the audit in order to design audit

procedures that are appropriate in the circumstances but not for the purpose of expressing

an opinion on the operating effectiveness of the Company's internal control.• Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by the Board of Directors.• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of

accounting and, based on the audit evidence obtained, whether a material uncertainty exists

related to events or conditions that may cast significant doubt on the Company's ability to

continue as a going concern. If we conclude that a material uncertainty exists, we are required

to draw attention in our auditor's report to the related disclosures in the standalone financial

results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are

based on the audit evidence obtained up to the date of our auditor's report. However, future

events or conditions may cause the Company to cease to continue as a going concern.• Evaluate the overall presentation, structure and content of the Statement, including the

disclosures, and whether the Statement represents the underlying transactions and events in

a manner that achieves fair presentation.�'--+'�



We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

For S R B C & CO LLP Chartered Accountants ICAI Firm Registration Number: 324982E/E300003

per Abli' Partner Membership No.: 112773

UDIN: 20112773AAAAAR9682

Mumbai January 29, 2020


Bombay House, 24 Homi Mody Street, Mumbai 400 001 Website: www�tatapower.com

CIN: L28920MH1919PLC000567

EXTRACT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST, DECEMBER 2019

Quarter Quarter Quarter Nine months Nine months ended ended ended ended ended

Sr.No. Consolidated 31-Dec-19 30-Sep-19 31-Dec-18 31-Dec-19 31-Dec-18 (Unaudited) (Unaudited} (Unaudited) (Unaudited) (Unaudited)

a. Total Income from operations 7,071.03 7,677.82 7,982.61 22,515.57 22,651.22 b. Profit/ (Loss) before Exceptional items and tax 349.08 541.98 456.27 1,577.91 1,546.53 C. Profit/ {Loss) before Tax 349.08 541.98 456.27 1,483.94 3,443.77 d. Profit /(Loss) for the period/year 245.64 350.81 219.79 827.25 2,377.90 e. Total Comprehensive Income 307.80 506.45 (75.88) 1,030.61 2,655.06 f. Paid-up Equity Share Capital (Face Value: , 1/- per share) 270.50 270.50 270.50 270.50 270.50 g. Total Reserves h. Earnings Per Equity Share (of, 1 /- each) {not annualised)

Basic and Diluted: (In t) (i) From Continuing Operations before net movement in

regulatory deferral balances 0.31 1.64 0.66 2.96 8.57 (ii) From Continuing Operations after net movement in

regulatory deferral balances 0.55 0.80 0.49 1.88 7.94 (iii) From Discontinued Operations (0.05) (0.02) (0.12) (0.14) (0,37) (iv) Total Operations after net movement in regulatory

deferral balances 0.50 0.78 0.37 1.74 7.57

Notes: 1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 29th January, 2020. 2. Financial Information of the standalone financial results of the Company is as follows:

Quarter Quarter ended ended

Sr.No. Standalone 31-Dec-19 30-Sep-19 (Audited) (Audited)

a. Total Income from operations 1,932.22 1,993.21 b. Profit/ (Loss) before Exceptional items and tax (2.87) 171.64 c. Profit / (Loss) before Tax (2.87) 171.64 d. Profit / (Loss) for the period/year 6.94 154.61 e. Total Comprehensive Income (1.90) 109.40 f. Paid-up Equity Share Capital (Face Value: , 1/- per share) 270.50 270.50 g. Total Reserves h. Earnings Per Equity Share (of, 1/- each) {not annualised)

Basic and Diluted: (In t) (i) From Continuing Operations before net movement in

regulatory deferral balances 0.34 0.81 {ii) From Continuing Operations after net movement in

regulatory deferral balances (0.08) 0.38 (iii) From Discontinued Operations (0.05) (0.02) (iv) Total Operations after net movement in regulatory

deferral balances (0.13) 0.36

Quarter Nine months Nine months ended ended ended

31-Dec-18 31-Dec-19 31-Dec-18 /Audited) (Audited) (Audited)

2,274.80 5,961.97 6,085.81 389.47 601.67 1,072.11 389.47 507.70 2,285.10 270.77 458.06 1,699.54 267.44 412.66 1,683.69 270.50 270.50 270.50

1.34 2.66 6.44

0.96 1.36 6.17 (0.12) (0.14) (0.37)

0.84 1.22 5.80

,arore Year ended

31-Mar-19 (Audited}

29,881.06 1,968.13 3,713.96 2,500.53 2,664.97

270.50 16,450.66

7.90

8.15 (0.46)

7.69

, crore Year ended

31-Mar-19 (Audited)

8,255.25 1,179.01 2,347.00 1,768.70 1,724.06

270.50 13,91g.10

6.72

6.36 (0.46)

5.90

3. The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results is available on the Stock Exchange websites www.nseindia.com and www.bseindia.com and on the Company's website www.tatapower.com.

Date: 29th January, 2020 Place: Mumbai



DIN 01785164

1

2

3

,,

5

6 7 8

9 10

11

12 13 14

15

16,

17. 18

TATA POWER The Tata Power Company L1rn1ted

Bombay House, 24 Homi Mody Street, Mumbai 400 001 Websile: www talapower com

CIN. L28920MH1919PLC000567

STATEMElllT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER/HALF YEAR ENDED 30TH SEPTEMBER 2019


1ncomo i) Revenue from Operations [Refer Note 3, 4 (c)] ii) Other Income Total Income Expenses i) Cost of power purchased ii) Cost of fuel (Refer Note 4 (c)] iii) Transmission charges iv) Raw material consumed v) Purchase of finished goods and spares vi ) Decrease/(lncrease) in stock-in-trade and work-in-progress vii) Employee benefits expense viii) Finance costs ix) Depreciation and Amortisation e>Cpenses x) Other expenses Total Expenses Prolit/(Loss) before Regulatory Deferral Balances, Exceptional Items, Tax and Share of Profit of Associates and Joint Ventures (1 ·2)

Add/( Less): Net movement in Regulatory Deferral Balances Addl(Less) : Net movement in Regulatory Deferral Balances in respect of ear1ier years Addl(Less) : Deferred Tax Recoverable/(Payable) (Refer Note 3) Profrt/(Loss) before Exceptional Items, Tax and Share of Profit of Associates and Joint Ventures (3+4] Share of Profit of Associates and Joint Ventures accounted for using the Equity Method Profit before Exceptional Items and Tax (5+6) Add/(Less): Exceptional Items

Provision lowards Standby Litiqation [Refer Note 4 (a)] Reversal of lmpaiITTlent for Investment in Joint Venture & related obligation [Refer Note 4 (b)j Provision for Contin9encv [Refer Note 4 (c)] Gain on Sale of Investment in Associates [Refer Nole 4 (d)] Impairment in respect of Other Property, Plant and Equipment and Goodwill [Refer Note 4 (e)]

Profit before Tax (7+8) Tax Expense/(Credit)

Current Tax Deferred Tax (Refer Note 7) Deferred Tax Expense In respect of ear1ier years

Net Profit for the Penod from Continuing Operations (9-10) Profit/(Loss) before tax from Discontinued Operations Tax Expense/(Creditl on Discontinued Operations Profit/(Loss) for the Period from Discontinued Operations Profit for the Penod (11+12) Other Comprehensive Income/( Expenses) including Discontinued Operations (1) Items that will not be reclassified to profit or loss (ii) Tax relating to items that will not be reclassified to profit or loss (iii) Share of Other Comprehensive lncome/(Expense) that will not be reclassified to profit or loss of

Associates and Joint Venlures accounted for using the Equity Method (iv) Items that will be reclassified to profit and loss

lvl Income tax relating to items that will be reclassified to profit or loss (vi) Share of Other Comprehensive lncome/(Expense) that will be reclassified to profit or loss of

Associates and Joint Ventures accounted for using the Equity Method

Total Comprehensive Income (13+14)

Profit/(Loss) for the Period atlributable to: Owners of the Company Non-controlling Interests

Others Comprehensive lncome/(Expense) attributable to: Owners of the Company Non-controlling Interests

Total Comprehensive Income al tribulable to: Owners of the Company Non-<:antrolling Interests

Paid-up equity share capital (Face Value: f 1/· per share) Total Reserves Basic and Diluted Eamin!ls Per Equity Share (off 1/- each) (f) (i) From Continuing Operations before net movement in regulalory deferral balances (Refer Note 3) (ii) From Continuing Operations after nel movement in regulalory deferral balances (iii) From Discontinued Operations (iv) Total Operations after net movement in regu latory deferral balances

SIGNED FOR IDENTIFICATION BY

SR BC & CO LLP MUMBAI

30-Sep-19 (Unnudlle<I)

7,677 82 226 21

7,904.03

1,719 i'8 2.330 12

5362 37556 25 13 (695)

359 59 1 129 95

654 d4 564.84

7,206.18

697.85 (438.35 )

-89.37

348.87

19311 541.98

541 .98

10065 85 01

356.32 (8 47) (2 !l6)

(5.51) 350.81

(7404) 19&8

(096) 70 35

14061 155.64 506.45

270 17 80.64

15662 (098)

426 79 79 66

270,50

1.64 0.80

(002) 0.78

Quar\er ended Half-Year endei::I 30.Jun-19 30-Sep-18 JO·Sep-19 30-Seo-18

I Unatld1!edl [Unauditea) (Unoudlled) IUnaud!led) 1>crore)

7,766 72 7,353 41 15,444 54 14,668 61 107 92 104 60 334 13 194 37

7,874.64 7,458.01 15,nS.67 14,862.98

1.536 00 1,705 02 3,355 78 3,434 27 2.568 68 2,653 22 4,99B ea 5,211 05

53 S3 70 03 107 15 150 48 160 81 317 86 5J6,,, 52843

42.97 30 95 68 10 13012 1 41 (77 06) (5.54) (50 99)

34768 341 26 707 27 675 33 11 43.SB 1,03-142 2273.83 2,047 38

619 95 596.97 1 274.39 1 1!16.94 553.58 564 45 1 118.42 1.07066

7,228.49 7,238.12 14,434.67 14,383.67

646.15 219.89 1,344.00 479.31 (258 49) (372,72) (69684] (547 ,49)

274.28 - 2i4.26 5849 24.34 147.86 82.47

446.15 145.77 795.02 288.55

240 iO 432.81 433.81 801 71 686.85 578 .58 1,228.83 1,090.26

(328.97) . (328 97) . 23500 . 235 00

1.897 24 .

592.88 578.58 1,134.86 2,987.50

257 61 (064) 358 26 18215 8533 152 94 170 34 610.29

. 249.94 426.28 606.26 2,195.06 (29.42] (51 04) (3789) (102 34) (10 28) (18.12) (13.24) (35.76) (19.14) (32.92) (24.65) (66.58) 230.80 393.36 581.61 2,128.48

9.20 (7 33) (64 BJ) (1601 ) 005 (236) 19 73 (238)

(2,09) 3 33 (305) 1046 (13 66) 164 13 5669 314 28

. .

(7.94) 253 48 132.67 286.•8 11 4.44 411 .25 141.20 572.83 216.36 804.61 722.81 2,701 .31

151 27 335 77 421 44 2,006 68 79 53 57 59 160 17 121 80

(K22) 411 53 142.40 57309 (0.22) (028) (1.20) (0.26)

137 05 747 30 56384 2,579 77 79 31 57 31 15897 121 54

270.50 270 50 270 so 270,50

1 01 1 44 2.65 7 91 0.53 1 26 1.33 7 45

(0.07) (0.13) (0 09) (0.25) 0.46 1 13 1 24 720

Year ended 31-Mar-1 9

Audited

29.BSI 06 39583

30,276.89

6,3-59.53 11 ,64002

248 23 919 ,35 345.22

24 37 1,339 05 4.170 00 2,393 13 2 260 15

29,699.05

577.84 (340 19)

274.26 16920 681.11

1.287.02 1,968.13

(45.00) 1,897 24 (106.4 1) 3,713.96

584 78 544 02

18 91 2,566.25 ( 191 82)

(65.98) (125.84) 2,440.41

(51 1a1 715

(1.37) 187 18

2324 164.44

2,604.85

2, 190 94 249.47

164 87 (043)

2,355 81 24904

270.50 16.•50 66

7.90 815

(046) 7 69

Annexure 9


Bombay House, 24 Homi Mody Street, Mumbai 400 001 Website: www.tatapower.com

GIN No.: L28920MH1919PLC000567

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES 't crore

As at As at Particulars 30-Sep-19 31-Mar-19

(U.naudited) Audited

A. ASSETS 1. Non-current Assets

(a) Property, Plant and Equipment (Refer Note 2) 45,534,52 41, 101,50 (b) Capital Work-in-Progress 1,294.06 2,575.70 (c) Goodwill 1,641.57 1,641.57 (d) Other Intangible Assets 1,527.41 1,561.82 (e) Investments accounted for using the Equity method [Refer Note 4(b) 11,420.52 11,989.69 (f) Financial Assets

(i) Other Investments 651.76 861.41 (ii) Trade Receivables 5.76 192.99 (iii) Loans 88.48 90.56 (iv) Finance Lease Receivables 569.96 565.62 (v) Other Financial Assets 361.31 316.75

(g) Non-current Tax Assets (Net) 272.14 238.01 (h) Deferred Tax Assets (Net) 83.86 89.49 (i) Other Non-current Assets 802.84 1,358.07

Total Non-current Assets 64,254.19 62.583.18

2. Current Assets (a) Inventories 1,520.70 1.706.42 (b) Financial Assets

(i) Investments 564.20 166.98 (ii) Trade Receivables 4,853.17 4.445.26 (iii) Unbilled Revenue 1,033.04 837.85 (iv) Cash and Cash Equivalents 1,055.66 645.45 (v) Bank Balances other than (iv) above 371.03 142 00 (vi) Loans 24.31 87.18 (vii) Finance Lease Receivables 30.82 37.90 (viii) Other Financial Assets 272.44 241 59

(c) Current Tax Assets (Net) 19.41 2.67 (d) Other Current Assets 1,390.28 1,881.85

Total Current Assets 11.135.06 10,195.15 Assets Classified as Held For Sale 5,788.50 5,542 12 Total Assets before Regulatory Deferral Account 81,177.75 78,320.45 Regulatory Deferral Account - Assets 5,273.21 5,758.13

TOTAL ASSETS 86,450.96 84,078.58

B. EQUITY AND LIABILITIES Equity

(a) Equity Share Capital 270.50 270.50 (b) Unsecured Perpetual Securities 1,500.00 1,500.00 (c) Other Equity 16.518.55 16.450.66

Equity attributable to Shareholders of the Company 18.289.05 18,221.16 Non-controlling Interests 2,193.43 2,166.66 Total Equity 20,482.48 20,387.82

Liabilities 1. Non-current Liabilities

(a) Financial Liabilities (i) Borrowings 32.155.79 31,139.23 (ii) Lease Liability (Refer Note 2) 3,007.96 -

(iii) Trade Payables 23.69 22.75 (iv) Other Financial Liabilities 714.59 687.31

(b) Non-current Tax Liabilities (Net) 3.74 3.74 (c) Deferred Tax Liabilities (Net) 1,205.40 1,056.81 (d) Provisions 348.12 333.60 (e) Other Non-current Liabilities 1,911.31 1,873.75

Total Non-current Liabilities 39,370.60 35,117.19 2. Current Liabilities

(a) Financial Liabilities(i) Borrowings 12,751.46 13,875.38 (ii) Lease liability (Refer Note 2) 268.81 -

(iii) Trade Payables 4,777.34 5,481.49 (iv) Other Financial liabilities [Refer Note 4(a)] 6,336.81 6,480.79

(b) Current Tax Liabilities (Net) 141.86 150,22 Provisions 137.37 93.55

SIGNED FOR IDEN I ICATI� Other Current liabilities 1,137.61 1,499.64 BY Total Current Liabilities 25,551.26 27,581.07

Lii: oilities directly associated with Assets Classified as Held For Sale 1,046.62 992.50 To al Liabilities before Regulatory Deferral Account 65,968.48 63.690.76

�fi SR BC & CID LP Re gulatory Deferral Account - Liability - -

MIJMBA TOTAL EQUITY AND LIABILITIES 86,450.96 84,078.58

-

TI\TI\ POWER The Tata Power Company Umiled

Bombay House, 24 Homi Mody Slreet, Mumbai 400 001 Website: www talapower .com

CIN No : L.26920MH191 9PLC000567 UNAUDITED CONSOLIDATED CASH FLOW STATEMENT

Half-year ended Half-year ended 30th September, 201 9 loth September, 201 8

, crore f c:rore A. Cash Flow from Operating Activities

ProfiU(Loss) before tax rrom Continuing Operations 1 1 3< M 2,967 50 ProfiV(Loss) before tax from Disconlinued Operations (37 69) (102 34)

Adjustments to reconcile Profit Before Tax to Net Cash Flows Depreciation and Amortisation Expense 1 274 39 1 , 1 66 94 Transfer to Contingency Reserve 9 00 7 00 Reversal of lmpainnent of Non-Current Investments and related obligation (235 00) Nil Gain/(Loss) on disposal of Property, Plant and Equipment (Net) 1 56 1 5 76 Finance Cost (Net of Capita lization) 2,291 92 2,065 26 Interest Income ( 1 0 1 66) (37 79) Dividend Income (94 40) ( 1 5 1 4) (Gain)/loss on sale/fair value of current inveslment measured at fa i r value throuQh profit and Joss (33 66) (24 66) Gain on Sale of Investment in Associate accounted for using the equity method Nil ( 1 .697 24) Allowances for Doubtful Debts and Advances (Nel} 8 61 21 .51 Other adjustments 6 05 7 81 Delayed Payment Charges (48 26) (12 77) Amortisalion of Service Line Contnbulions and Capital Grants (44 30) (40 56) Guarantee Commission from Joinl Ventures (4 87) (7 27) Share of Net Profit of Associates and Joint Ventures accounted for using lhe equity method (433 61 ) (60 1 7 1 ) Amortisation of Deferred Revenue (39 43) (95 65) Effect of Exchange Fluctuation (Net) (8 22) 16.64)

2.547 70 364 47 J.644 57 3,249 63

Working Capital Adjustments: Adjustments for increase/(decrease) in Assets: Inventories 161 34 (31 1 63) Trade Receivables (41 7 1 6) ( 1 ,261 53) Unbilled Revenue (222 61) (96 05) Finance Lease Receivables 2 74 4 56 Loans-Current (5 1 9) 0 20 Loans-Non Current 7 66 (1 92) other currenl assets 405 69 236 75 other non-current assets 1 93 39 3 10 00 other Financial Assets - Current 1 70 1 28 46 other Financial Assets - Non-Current (40 94) (48 94) Regulatory Deferral Account - Assets 464 92 744 1 0 Current Investments ( 12 03) 1 19 19 Movement in Operating Asset 579 69 ( 188 79)

Adjustments for (increase)/decrease in Liabil ities: Trade Payables (959 25) (637 47) Other Current Liabililies 176 77 (21 6 66) Other Non-current Liabilities 66 37 (5 1 37) Other Financial Liabi l ities - Current 1 96 45 (55 20) Other Financial Liabilities - Non-current 21 1 9 (2 1 4) Regulatory Deferral Account - Liability N i l (465 00) Currenl Provisions (21 53) (1 62) Non-current Provisions 12 29 1 52 Movement in Operating Liabil ity (50 1 ,7 1 1 ( 1 ,450 1 4 )

C a s h Flow from/(used i n ) Operations 3 .1Z2 &5 1 , 6 1 0 70 Income-tax Paid ( 398 8 1 ) (239 66)

Net Cash Flow rrom Operating Activities A J,J2l.14 1 ,371 ,0Z Net cash nows froml(used) in operating actMUes from Conlinuing Operations 3.266 9 1 1 .423 63 Net cash nows from/(used) in operating activities from Discontinued Operah'ons 54 93 (52 61 )

B. Cash Flow from Investing Activities Capilal expendilute on Property. Plant and Equipment (includ ing capital advances) (992,75) (691 48) Proceeds from sale of Property, Plant and Equipment ( including property, plant and equipment classified as held for sale) 34 74 15 7 1 Purchase o f Current Investments (8,658 J4) (16,796 80) Proceeds from sale of Current Investments 8,4 90,1!4 16 ,794 52 Consideration transferred on business combinations NII (1 1 95) PUrt hHt ol ��on,a1rrenl ,n-ve:ument s (BO JJ) (40 29) Proceeds from sale of Non-current Investments { Including advance and investments classified as held for sa le) 4.15 22 2,424 17 Inter-corporate Deposits (Net) a8 gz 19 66 Interest received 82 66 46 1 5 Delayed Paymenl Charges received J5 lJ 1 2 64 Guarantee Commission received (2 82) 9 02 Dividend received 1 ,464 77 21 9 40 Bank Balance not Considered as Cash and Cash Equivalents (23& 43) (5 66)

Net Cash Flow used in lnve5tfng ActJvlUes B 473.81 1 ,795.1 1 Net cash flows frornl(used} in investing activities m>m Continuing Operations •87 03 1 ,647 1 3 Net cash flows lrorn!(used) in investing activities m>m Discontinued Operations 1 1 3 22) (52 02)

C. Cash Flow from Financing Activities Increase in Capital/Service Line Contributions 38.75 34 SJ Proceeds from Non-current Borrowings ,.202.02 7 , 1 02 36 Repayment of Non-current Borrowings (3,71 7 98 ) (9,523 60) Proceeds from Current Borrowings 26, 1 04 89 18 ,977 65 Repayment of Current Borrowings 126,964 ,69) (15 ,651 63) Finance Cost Paid (2 ,061 ,461 (1 ,936 01) Lease Liability (5.40) Nil Dividend Paid (4114.32) (392 54) Additional Income-lax. on Dividend Paid (65 61 ) (66. 17) Distribution on Unsecured Perpetual Securities (64.80 (64.60)

Net Cash Flow from/(used in) Financing Activlt'les C I J,078.a0) (3,744.41 ) Net cash lfows froml(used} in financing aC1iv;ties from Continuing Operations (3,033.92) (3,671 .56) Net cash flows froml(used) in nnancing acfWifies from Discontinued Operations (44.88) 1 27.1 5 Net Increase in Cash and Cash Equivalents (A+B+C) 71 8.85 (578.28) Cash and Cash Equivalents as at 1st April (Opening Balance) 81 .52 944.52 Effect of Exchange Fluctuation on Cash and Cash Equivalents 10 ,15 70.43 Cash and Cash Eauivalents as at 30th September IClosina Balance) 790.52 436,67

Cash and cash equivalents include: As ;1t Aul 30th September, 201 9 30th September, 201 8

r croro f crore (a) Balances with banks

rsi

ev GNED FOR I DENTIFICA1i18N

Accounts 570 3 1 1 33.91 1L Accoun:15 )52.30 595.06

(b) Cheques or I-land 3 1 74 47. 1 4(c) Cash on Ha d 1 .31 1 .40 (di Bank OvertJ afl (257 SS) (345.65) (e) Cash cntdi1 f,/,1 ( 1 9.55)

S R B C & CQ

LL Y:ash and c 5h equivalents related to continuing operations 787,76 41 2.31

� M!J ,1/18;£\ I

(a) Bank Ov�td aft (0 02) (0.24) (b) In Current A counts 2.76 24.60 __,.. ___ -- - ·- M1 equivalents related to discontinued operations 2.74 24.36

790.52 436.67


Bombay House, 24 Homi Mody Street, Mumbai 400 001 Website: www tatapower com

CIN : L28920MH 1919PLC000567

CONSOLIDATED SEGMENT INFORMATION

Quarter ended Particulars 30-Seo-19 30-Jun-19

(Refer Notes Below) I (Unaudited) (Unaudited)

Segment Revenue (Refer Note 3) Generation 3,396.38 3,888 05 Renewables 1,165.37 965 65 Transmission and Distribution 3,207.63 3,149.47 Others 53.40 55.82

7,822.78 8,058.99 Less: Inter Segment Revenue (507.35) 1495.62' Total Segment Revenue 7,315.43 7,563 37

Discontinued Operations # 85.38 32.93 Revenue/Income from Operations {including Net movement in Regulatory

7,400.81 7,596.30 Deferral Balances}

Segment Results Generation 585.23 815.73 Renewables 417 55 449 06 Transmission and Distribution 501.11 519.26 Others 1.44 9.53

Total Segment Results 1,505 33 1,793.58

Less: Finance Costs (1,129.95) (1,143.88) Less: Exceptional Item - Generation [Refer Note 4(a) & 4(c)] - (328.97) Less: Exceptional Item - Transmission and Distribution [Refer Note 4(e)] - .

Add/(Less): Exceptional Item - Unallocable lncome/(Expense) [Refer Note 4 (b) & 4 (d)] . 235.00 Add/(Less): Unallocable Income / (Expenses) (Net) 166.60 37 15 Profit before tax from Continuing Operations 541.98 592.88

Loss before tax from Discontinuing Operations (8.471 (29.42)

Segment Assets Generation 40,812 86 41,110 46 R·enewables 18,954 39 19,212.69 Transmission and Distribution 17,433 99 18,109.16 Others 536.29 725.03 Unallocable • 6,563.75 6,115 53 Assets classified as held for sale # 2.149.68 2,085.88

Total Assets 86,450.96 87,358.75

Segment Liabilities Generation 3,248.57 4,010.68 Renewables 1,366 17 1,157 07 Transmission and Distribution 4,788 65 4,940 05 Others 125.20 114.80 Unallocable • 55,426.90 56,084.99 Liabilities classified as held for sale # 1 012.99 1058 19

Total Liabilities 65,968.48 67,365.78

t crore Half-Year ended Year ended

30-Sep-18 30-Sep-19 30-Seo-18 31-Mar-19 (Unaudited) I/Unaudited\ (Unaudited) (Audited)

3,515 89 7,284 43 7,041 26 15,645 16 1,090 83 2,131 02 2,028 08 3,610 39 3,224 83 6,357 10 6.455.17 12,398.17

56.72 109 22 114.62 234.03 7,888.27 15,881 77 15,639.13 31,887.75

(619-451 11,002 97) (1, 176_56) (1,904.11) 7,268 82 14,878.80 14,462 57 29,983,64

35 35 118.31 55 57 143,59

7,304.17 14,997.11 14,518.14 30,127.23

633 57 1,400 96 1,265 66 2,486.61 417 17 866,61 817.23 1,426,85 519.25 1,020.37 999.12 2,126.99

14 11 10.97 24 84 53.95 1,584.10 3,298.91 3, 106,85 6,094.40

(1,034.42) (2,273 83) {2,047 38) (4,170.00) - (328,97) - (45.00) - - - (106.41) - 235 00 1,897 24 1,897.24

2.8.90 203-75 30.79 43.73 578.58 1,134.86 2,987.50 3,713.96

(51.04) (37.891 (102.34) (191.82}

40,703 69 40,812 86 40,703,69 39,842 59 16,979 92 18,954 39 16,979,92 18,315.93 16,853 61 17,433 99 16,853.61 17,338.05

431,89 536,29 431.89 477.45 5,871 88 6,563.75 5,871.88 6,040.26 2 066.44 2. 1 49.68 2.066.44 2 064.30

82,907.43 86,450.96 82,907.43 84,078.58

4,126 93 3,248.57 4,126.93 4, 149,69 1,059 82 1,366.17 1,059,82 1,588.46 4,702.92 4,788.65 4,702,92 4,846.36

111.55 125.20 111,55 138.16 51,290.13 55,426.90 51.290, 13 52,001 ,82

1,023.42 1,012.99 1.023.42 966.27 62,314.77 65,968.48 62,314.77 63,690.76

Generation: Comprises of generation of power from hydroelectric sources and thermal sources (coal, gas and oil) from plants owned and operated under lease arrangement and related ancillary services. It also comprises of coal - mining, trading, shipping and related infra business Renewables: Comprises of generation of power from renewable energy sources i,e wind and solar It also comprises EPC and maintenance services with respect to solar

Transmission and Distribution: Comprises of transmission and distribution network. sale of power to retail customers through distribution network and related ancillary services. It also comprises of power trading business Others: Comprises of project management contracts/infrastructure management services, property development, lease rent of oil tanks, satellite communication and investment business

# Pertains to Strategic Engineering Division being classified as Discontinued Operations * Includes assets held for sale other than Strategic Engineering Division,


Particulars

Revenue from Operations [Refer Note 3, 4(c)] Add/(Less): Net movement in Regulatory Deferral Balances Add/(Less): Net movement in Regulatory Deferral Balances in respect of earlier years Add/(Less): Deferred Tax Recoverable/(Payable) (Refer Note 3) Add/(Less): Unallocable Revenue Total Segment Revenue

Discontinued Operations- Others# Total Segment Revenue as reported above


BY

SR BC & CO LLP

MUMBAI

30-Sep-19 /Unaudited)

7,677.82 (438 35)

-

89.37 /13 41)

7,315.43 85.38

7,400.81

Qu.acte.r ended 30-Jun-19

(Unaudited) 7,766 72 (258 49)

-

58.49 /3.35\

7,563 37 32 .. 93

7,596.30

Half-Year ended Year ended 30-Sep-18 30-Sep-19 30-Sep-18 31-Mar-19

/Unaudited) {Unaudited) /Unaudited) (Audited) 7,353.41 15,444.54 14,668.61 29,881 06 (372.72) (696.84) (547.49) (340.19)

274.26 - 274,26 274 26 24.34 147,86 82.47 169,20

/10.47) /16,76) (15.28) (0,69) 7,268 82 14,878 80 14,462 57 29,983,64

35.35 118.31 55.57 143,59 7,304.17 14,997.11 14,518.14 30,127.23

NOTES TO THE CONSOLI DA TED FINANCIAL RES UL TS - Q2 FY20

1.

2.

3.

4.

The above Consolidated financial results of The Tata Power Company Limited (the Group) were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 8th November, 2019.

The Group has applied Ind AS 116 'Leases" (Ind AS 116) using modified retrospective approach, under which the cumulative effect of initial application is recognized as at 1st April, 2019. On adoption of Ind AS 116, the Group has recognized 'Right-of-use' assets amounting to � 3,622 crore (including reclassification of lease prepayment from other assets amounting to� 341 crore) and 'Lease liabilities' amounting to � 3,281 crore as at 1st April, 2019. Had the Group continued to apply previous lease accounting standard, during the half year and quarter ended 30th September, 2019, finance costs and depreciation would have been lower by� 145 crore (Quarter ended 30th September, 2019: � 79 crore) and � 7 4 crore (Quarter ended 30th September, 2019:

� 52 crore) respectively and other expenses and profit before tax from continuing operations would have been higher by � 168 (Quarter ended 30th September, 2019: � 99 crore) crore and � 51 crore (Quarter ended 30th September, 2019: � 32 crore) respectively. There is no impact on retained earnings as at 1st April, 2019.

In the regulated operations of the Group where tariff recovered from consumers is determined on cost plus return on equity, the Income tax cost is pass through cost and accordingly the Group recognizes Deferred tax recoverable/ payable against any Deferred tax expense/ income. Until previous year, the same was presented under 'Tax Expenses' in the Financial Results. During the half year ended 30th September, 2019, pursuant to an opinion by the Expert Advisory Committee of The Institute of Chartered Accountants of India, the same has now been included in 'Revenue from Operations' in case of Generation and Transmission Divisions and 'Net Movement in Regulatory Deferral Balances' in case of Distribution Division. There is no impact in the Other equity and Profit I (Loss) on account of such change in presentation. Impact of this restatement in the comparative period is as follows:

(t Crore) Particulars Quarter ended Half vear ended Year ended

30-Sep-18 30-Sep-18 31-Mar-19

Revenue from Operations - Increase/ 34.49 46.92 322.42(Decrease) Movement in Net Regulatory Deferral Balances - 24.34 82.47 169.20Income/ (Expense) Tax (expense)/ credit (58.83) (129.39) (491.62)Basic and diluted EPS from continuing operations (0.06) (0.20) (0.40) before movement in regulatory deferral balances-Increase/ (Decrease)

Exceptional items:

a. With respect to standby litigation with Adani Electricity Mumbai Limited (Adani Electricity), the Hon'bleSupreme Court during the half year ended 30th September, 2019, has upheld Appellate Tribunal forElectricity (APTEL) order dated 20th December, 2006 directing the Group to pay t 354 crore along withinterest at 10% per annum from 1st April, 2004 up to the date of payment. Consequently, the Group hasrecognized an expense of � 329 crore net of amount recoverable from customers including adjustmentwith consumer reserves.

b. During the quarter ended 30th June, 2019, pursuant to debt restructuring of Adjaristsqali Georgia LLC(AGL) (a joint venture entity), significant progress towards execution of long term power purchaseagreement with Government of Georgia and receipt of insurance claims, the Group has reversed provisionfor financial guarantee obligation and impairment towards its investments in AGL amounting to � 235crore.

c. During the year ended 31st March, 2019, the Group had decided to avail Government of Maharashtraamnesty scheme with respect to entry tax litigation for settlement of arrears of tax, interest and penalty.Accordingly, the Group has recognized provision towards settlement including provision towards penaltyoft 45 crore. Further during the quarter ended 30th June, 2019, the Group has received final settlementorder under the said scheme and pursuant to the said order, the Group has reversed the excess provisionrelated to entry tax under the head 'Cost of Fuel' and corresponding recovery from customers under thehead 'Revenue from operations' amounting to � 68 crore.

d. During the year ended 31st March, 2019, the Group had sold its investments in Tata Communicationr.S:;:l:::G=-:N'::ID::-;:F::::O:;:R-:l=-o=EN�T

=1:-:l

l4.--,im�,-.!:'...,i\l

..:,... nd Panatone Finvest Limited (Associate Companies) and recognized a gain on sale ofBY investme ts amounting to� 1,897 crore.

RB C &to LDo1ring t e year ended 31st March, 2019, the Group had recognized an impairment amounting to� 106

·MUMBAIe�ore ag inst carrying amount of its Rithala power plant and classified the said plant as asset held for

5.

6,

7.

8.

From the current period, the Group has changed its organization structure into various operating verticals for efficient monitoring and pursuing growth. Consequently, reporting to Chief Operating Decision Maker (CODM) has been changed which has resulted into change in the composition of reportable segments. Accordingly, corresponding information for comparative periods have been restated in the segment results.

Pursuant to the Taxation Law (Amendment) Ordinance, 2019 ('Ordinance') issued by Ministry of Law and Justice (Legislative Department) on September 20, 2019 which is effective from April 1, 2019, domestic companies have the option to pay income tax at 22% plus applicable surcharge and cess ('new tax regime') subject to certain conditions. Group is in the process of evaluating the option available in the Ordinance. Pending evaluation, most of the Group Companies have not given any effect of the Ordinance in the financial results.

During the quarter the Group has recognized Deferred Tax Liability oft 75 crore on its share of undistributed profit of Joint Ventures.

Financial Information of the standalone audited financial results of the Holding Company is as follows:

(f crore Particulars Quarter ended Half-year ended Year

ended 30-Sep-19 30-Jun-19 30-Sep-18 30-Sep-19 30-Sep-18 31-Mar-19

Continuing Operations Revenue from operations 1,993.21 2,036.54 1,852.90 4029.75 3811.01 8,255.25 Profit before regulatory deferral balances, exceptional items and 352.09 615.90 250.29 967.99 638.21 1,325.59 tax Profit before exceptional items and 171.64 432.90 359.05 604.54 682.64 1,179.01 tax Profit before tax 171.64 338.93 359.05 510.57 1,895.63 2,347.00 Net Profit/(Loss) for the period 160.12 315.65 298.29 475.77 1,465.72 1,834.42 from continuinq operations Discontinued Operations Profit/(Loss) before tax from (8.47) (29.42) (51.04) (37.89) (102.34) (191.82) discontinued operations Profit/(Loss) for the period from (5.51) (19.14) (32.92) (24.65) (66.58) (125.84) discontinued operations Profit/(Loss) for the period 154.61 296.51 265.37 451.12 1,399.14 1,708.58 Other Comprehensive (45.21) 8.65 0.65 (36.56) (12.52) (44.64) lncome/(Expense) net of tax Total Comprehensive Income 109.40 305.16 266.02 414.56 1,386.62 1,663.94 Paid-up equity share capital (Face 270.50 270.50 270.50 270.50 270.50 270.50 Value: t 1/- per share)

9.

10.

Total Reserves 13,919.10

Figures for the previous periods/year are re-classified/re-arranged/re-grouped, wherever necessary.

The standalone audited financial results of the Holding Company are available for Investors at www.tatapower.com, www.nseindia.com and www.bseindia.com.

Date: 8th November, 2019


BY

�,:x_ S R B C & CO LLP

MUMBAI

•T•TATA


...._ PRAVEER SINHA CEO & Managing Director

DIN 01785164


12th Floor, The Ruby 29 Senapati 8apat Marg Dadar (West) Mumbai - 400 028, India

Tel : +91 22 6819 8000

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015, as amended

Review Report to



1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of TheTata Power Company Limited (the "Parent") and its subsidiaries (the Parent and its subsidiariestogether referred to as "the Group"), its associates and joint ventures for the quarter endedSeptember 30, 2019 and year to date from April 1, 2019 to September 30, 2019 (the "Statement")attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the"Listing Regulations").

2. This Statement, which is the responsibility of the Parent Company's Management and approved by theParent Company's Board of Directors, has been prepared in accordance with the recognition andmeasurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim FinancialReporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevantrules issued thereunder and other accounting principles generally accepted in India. Our responsibilityis to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements(SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of theEntity" issued by the Institute of Chartered Accountants of India. This standard requires that we planand perform the review to obtain moderate assurance as to whether the Statement is free of materialmisstatement. A review of interim financial information consists of making inquiries, primarily ofpersons responsible for financial and accounting matters, and applying analytical and other reviewprocedures. A review is substantially less in scope than an audit conducted in accordance withStandards on Auditing and consequently does not enable us to obtain assurance that we would becomeaware of all significant matters that might be identified in an audit. Accordingly, we do not express anaudit opinion.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMDl/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

4. The Statement includes the results of the entities as per Annexure I

5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothinghas come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian AccountingStandards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read withrelevant rules issued thereunder and other accounting principles generally accepted in India, has notdisclosed the information required to be disclosed in terms of the Listing Regulations, including themanner in which it is to be disclosed, or that it contains any material misstatement.

SR BC & CO LLP, a Limited Liability Partnership with LLP Identity No, AAB-4318 Regd Office: 22, Camac Street. Block 'B', 3rd Floor, Kolkata-700 016

SR 8 C & CO LLP Chartered Accountants


6. The accompanying Statement includes unaudited interim financial statements/ financial informationand other unaudited financial information of five subsidiaries, whose interim financial statements /financial information reflect Group's share of total assets of Rs. 10,590.13 crore as at September 30,2019 and Group's share of total revenues of Rs. 2,551.18 crores and Rs. 5,021.28 crores, Group'sshare of total net profits after tax of Rs. 105.88 crores and Rs. 221.24 crores, Group's share of totalcomprehensive income of Rs. 103.88 crores and Rs. 218.80 crores, for the quarter ended September30, 2019 and for the period from April 1, 2019 to September 30, 2019, respectively, and net cashinflows of Rs. 50.22 crores for the period from April 1, 2019 to September 30, 2019, as considered inthe Statement, which have been reviewed / audited by their respective independent auditors. TheStatement also includes the Group's share of net profit after tax of Rs. 148.38 crores and Rs 354.88crores and total comprehensive income of Rs. 147.48 crores and Rs. 351.94 crores, for the quarterended September 30, 2019 and for the period from April 1, 2019 to September 30, 2019, respectively,as considered in the Statement, in respect of one associate and five joint ventures, whose interimfinancial statements / financial information have been reviewed by their respective independentauditors. The independent auditor's reports on interim financial statements / financial information ofthese entities have been furnished to us by the Management and our conclusion on the Statement, inso far as it relates to the amounts and disclosures in respect of these subsidiaries, joint ventures andassociates is based solely on the report of such auditors and procedures performed by us as stated inparagraph 3 above.

7. The accompanying Statement of unaudited consolidated financial results include unaudited interimfinancial statements/ financial information and other unaudited financial information in respect of ninesubsidiaries, which have not been reviewed by their auditors, whose interim financial statements /financial information reflect Group's share of total assets of Rs. 452.65 crores as at September 30,2019, Group's share of total revenues of Rs. 12.89 crores and Rs. 35.23 crores, Group's share of totalnet profit / (loss) after tax of Rs. (2.57) crores and Rs. 5.19 crores, Group's share of totalcomprehensive income / (loss) of Rs. (2.57) crores and Rs. 5.19 crores, for the quarter endedSeptember 30, 2019 and for the period from April 1, 2019 to September 30, 2019, respectively, andnet cash inflows of Rs. 0.81 crores for the period from April 1, 2019 to September 30, 2019, asconsidered in the Statement. The Statement also includes the Group's share of net loss after tax ofRs. 0.82 crores and Rs 3.47 crores and total comprehensive loss of Rs. 0.82 crores and Rs. 3.47crores, for the quarter ended September 30, 2019 and for the period from April 1, 2019 to September30, 2019, respectively, as considered in the Statement, in respect of twelve joint ventures, based ontheir interim financial statements / financial information which have not been reviewed / audited byany auditor. These unaudited interim financial statements/ financial information and other unauditedfinancial information have been approved and furnished to us by the Management and our conclusionon the Statement, in so far as it relates to the affairs of these subsidiaries and joint ventures, is basedsolely on such unaudited interim financial statements and other unaudited financial information.According to the information and explanations given to us by the Management, these interim financialstatements I financial information are not material to the Group.Our conclusion on the Statement in respect of matters stated in para 6 and 7 above is not modifiedwith respect to our reliance on the work done and the reports of the other auditors and the financialresults/ financial information certified by the Management.

For S R B C & CO LLPChartered AccountantsICAI Firm registration number: 324982E/E 300003

per Ati ·. Partner Membership No.: 112773

UDIN: 19112773AAAAHP7177 Mumbai November 8, 2019



Page 3 of 4

Annexure - 1 to Limited Review Report

No Name of Entities

A Subsidiaries (Direct)

1 Af-Taab Investments Company Limited

2 Tata Power Solar Systems Limited

3 Tata Power Trading Company Limited

4 Neice Limited

5 Maithon Power Limited

6 Tata Power Renewable Energy Limited

7 TP Renewable Microgrid Limited

(Formerly known as Industrial Power Utility Limited)

8 Coastal Gujarat Power Limited

9 Bhira Investments Pte Limited

(Formerly known as Bhira Investments Limited)

10 Bhivpuri Investments Limited

11 Khopoli Investments Limited

12 Trust Energy Resources Pte. Limited

13 Tata Power Delhi Distribution Limited

14 Tata Power Jamshedpur Distribution Limited

15 Tata Power International Pte. Limited

16 TP Ajmer Distribution Limited

17 Tata Power Green Energy Limited

B Subsidiaries (Indirect)

1 NDPL Infra Limited

2 Energy Eastern Pte. Limited (Merged with Trust

Energy Resources Pte. Limited w.e.f June 10, 2019)

3 Tatanet Services Limited

4 Supa Windfarms Limited

5 Nivade Windfarms Limited

6 Poolavadi Windfarms Limited

7 lndo Rama Renewables Jath Limited

8 Walwhan Renewable Energy Ltd

9 Clean Sustainable Solar Energy Private Limited

10 Dreisatz Mysolar24 Private Limited

11 Ml Mysolar24 Private Limited

12 Northwest Energy Private Limited

13 Solarsys Renewable Energy Private Limited

14 Walwhan Solar Energy GJ Limited

15 Walwhan Solar Raj Limited

16 Walwhan Solar BH Limited

17 Walwhan Solar MH Limited

18 Walwhan Wind RJ Limited

19 Walwhan Solar AP Limited

20 Walwhan Solar KA Limited

21 Walwhan Solar MP Limited

22 Walwhan Solar PB Limited

23 Walwhan Energy RJ Limited

24 Walwhan Solar TN Limited

Country of

Incorporation

India

India

India

India

India

India

India

India

Singapore

Mauritius

Mauritius

Singapore

India

India

Singapore

India

India

India

Singapore

India

India

India

India

India

India

India

India

India

India

India

India

India

India

India

India

India

India

India

India

India

India



Page 4 of 4

25 Walwhan Solar RJ Limited

26 Walwhan Urja Anjar Limited

27 Chirasthayee Saurya Limited

28 Nelco Network Products Limited

29 Vagarai Windfarm Limited

30 Walwhan Urja India Limited

31 Far Eastern Natural Resources LLC

C Joint Ventures (Direct)

1 Tubed Coal Mines Limited

2 Mandakini Coal Company Limited

3 Industrial Energy Limited

4 Powerlinks Transmission Limited

5 Dugar Hydro Power Limited

D Joint Ventures (Indirect)

1 PT Mitratama Perkasa

2 PT Kaltim Prima Coal

3 lndoCoal Resources (Cayman) Limited

4 PT lndocoal Kaltim Resources

5 Candice Investments Pte. Ltd.

6 PT Nusa Tambang Pratama

7 PT Marvel Capital.Indonesia

8 PT Dwikarya Prima Abadi

9 PT Kalimantan Prima Power

10 PT Baramulti Sukessarana Tbk

11 Adjaristsqali Netherlands B. V

12 Koromkheti Netherlands B. V

13 lndoCoal KPC Resources (Cayman) Limited

14 Resurgent Power Ventures Pte Ltd.

15 Renascent Ventures Private Limited.

E Associates

1 Yashmun Engineers Limited

2 Dagachhu Hydro Power Corporation Limited

India

India

India

India

India

India

Russia

India

India

India

India

India

Indonesia

Indonesia

Cayman Islands

Indonesia

Singapore

Indonesia

Indonesia

Indonesia

Indonesia

Indonesia

Netherlands

Netherlands

Indonesia

Singapore

India

India

Bhutan

(A) 1

2

(B) 1

2

3

4

5

6

7 8

9

10 11

12

13

14

15, 16

17

18

TATA POWER The Tala Power Company Limiled

Bombay House, 24 Homi Mody Street, Mumbai 400 001 Website: www latapower com

CIN L28920MH1919PLC000567

STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER/HALF-YEAR ENDED 30TH SEPTEMBER, 2019

Particulars

Generation

Sales

(Refer Noles Below)

Income

i) Revenue from Operations (Refer Note 3 and 4c)

ii) Other Income (Refer Nole 6)

Total Income Expenses

i) Cost of Power Purchased ii) Cost of Fuel (Refer Note 4c) iii) Transmission Charges

iv) Employee Benefits Expense

v) Finance Costs (Refer Note 2)

vi) Depreciation and Amortisation Expenses (Refer Note 2) vii) Other Expenses

Total Expenses Profit Before Regulatory Deferral Balances, Exceptional Items and Tax (1-2)

Add I (Less): Net Movement in Regulatory Deferral Balances Add I (Less): Net Movement in Regulatory Deferral Balances in respect of eartier years

Add/ (Less): Deferred Tax Recoverable/(Payable) (Refer Note 3) Profit Before Exceptional Items and Tax (3+4)

Add/(Less): Exceptional Items Reversal of Impairment of Non-current Investments and related obligation

(Refer Note 4bl Standby Litigalion (Refer Note 4a)

Provision for Contingencies (Refer Nole 4c) Gain on Sale of Investment in Associates (Refer Note 4d)

Profit Before Tax (5+6) Tax Expense/(Credit) (Refer Note 3)

Current Tax

Deferred Tax Deferred Tax Expense in respect of ear1ier years

Net Profit/(Loss) for the period from Continuing Operations (7-8) ProfiU(Loss) before lax from Discontinued Operations

Tax Expense/(Credit) on Discontinued Operations

Profit/(Loss) for the Period from Discontinued Operations Proflt/(Loss) for the Period (9+10) Other Comprehensive lncome/(Expenses) Including Discontinued Operations

(1) Items that will not be reclassified lo profit or loss

(ii) Tax relating to items Iha! will not be reclassified to profit or loss

Other Comprehensive tncome/(Expenses) (Net of Tax) Total Comprehensive Income (11+12)

Paid-up Equity Share Capital (Face Value: f 1/- per share)

Total Reserves Basic and Diluted Earnings Per Equity Share (off 1/- each) (f)

(i) From Continuing Operations before net movement in regulatory deferral balances (Refer Note 3)

(ii) From Continuing Operations after net movement in regulalory deferral balances (iii) From Discontinued Operations (iv) Total Operations after net movement in regulalory deferral balances

Debt Service Coverage Ratio (no of times)

With Exceptional llem

Without Exceptional Item

Interest Service Coverage Ratio (no. of limes)

With Exceptional Item

Without Exceptional Item


BY

SRBC &CO LLP

MUMBAI

30-Sep-19

MUs

3,054

3,051

(Audited)

1,993 21

121 07

2,114.28

12119 707 34

53 50

154 50 385 38

162 07

178 21

1,762.19 352.09

(233 27)

52 82

171.64

-

171.64

29 33

(17 81)

160.12 (8 47)

(2 96)

(5.51) 154.61

(63 81) 18 60

(45.21

109.40 270 50

0 81 0 38

(0 02) 0 38

Quarter ended Half-year ended

30-Jun-19 30-Seo-18 30-Sep-19 30-Seo-18 MUs MUs MUs MUs

3,180 3,378 6,234 6,412

3,267 3,182 6 318 6,387 (f in crore)

(Audited) (Audiled) (Audited) (Audited)

2,036 54 1,852 90 4,029 75 3,811 01

374 09 143 09 49516 346 02

2,410.63 1,995.99 4,524.91 4,157.03

155 76 76 69 276 95 225 83 711 42 759 21 1,418 76 1,494 11

53 50 69 94 107 00 150 39

147 27 150 97 301 77 296 29 386 96 332 83 772 34 676 90

163 05 157 83 325 12 314 88

176 77 198 23 354 98 360 42

1,794.73 1,745.70 3,556.92 3,518.82

615.90 250.29 967.99 638.21 (217 62) (170 84) (450 89) (272 56)

274 26 27426

34 62 5 34 87 44 42 73

432.90 359.05 604.54 682.64

235 00 235 00

(328 97) (328 97) -

1,212 99

(93 97) (93 97) 1,212 99

338.93 359.05 5.10.57 1,895.63

(73 52) 29 33

23 28 13428 5 47 429 91 -

315.65 298.29 475.77 1,465.72

(29 42) (51 04) (37 89) (102 34)

(10 281 (18 121 (13 24) (35 76)

(19.14) (32.92) (24.65) (66.58) 296.51 265.37 451.12 1,399.14

8 65 3 17 (55 16) (10 00) - (2 52) 18 60 (2 52)

8.65 0.65 (36.56) (12.52

305.16 266.02 414.58 1 �86.62 270 50 270.50 270.50 270.50

1 50 0 74 2 31 5 10 1 06 1,00 1 44 5 21

(0 07) (0 12) (0.09) (0 25) 0 99 o 88 1 35 4 96

0 89 1 01

0 95 o 57

1 60 3 58

1.72 1 84

Year ended

31-Mar-19

MUs

12,186

12,105

(Audited)

8,255 25

516 35

8,771.60

457 02

3,168 27

248 23 637 57

1,500 35 632 70 801 87

7,446.01 1,325.59 (519 03)

274 26

98 19

1,179.01

(45 00) 1 212 99 1167 99

2,347.00

171 00

331 58

10 00

1,834.42 (191 82)

(65 98}

(125.84) 1,708.58

(52 01) 7 37

{44.64 1,663.94

270 50

13.919 10

6 72 6 36

(0 46)

5 90

111

0 81

2.40 1 64

SIGNED FOB JDENTIFICATION BY

� :S�Bt&COLLP I MUMBAI

to

TATA POWER The Tala Power Company Limited

Bombay House, 24 Homi Mody Street. Mumbai 400 001

Website: www talapower com

CIN L28920MH1919PLC000567

AUDITED STANDALONE STATEMENT OF ASSETS AND LIABILITIES

Particulars

A. ASSETS

1. Non-current assets

a) Property, plant and equipment (Refer Note 2)

b) Capital Work-in-Progress

c) Intangible Assets

d) Financial Assets

(i) Investments (Refer Note 4b)

(ii) Trade Receivables

(iii) Loans

(iv) Finance Lease Receivables

(v) Other Financial Assets

e) Non-current Tax Assets (Net)

f) Other Non-current Assets

Total - Non-current assets

2, Current assets

a) Inventories

b) Financial Assets

(i) Investments

(ii) Trade Receivables

(iii) Unbilled Revenue

(iv) Cash and Cash Equivalents

(v) Bank Balances other than (iv) above (vi) Loans

(vii) Finance Lease Receivables

(viii) Other Financial Assets c) Other Current Assets

Total - Current assets

Assets Classified as Held For Sale Total Assets before Regulatory Deferral Account

Regulatory Deferral Account - Assets

TOTAL -ASSETS

B. EQUITY AND LIABILITIES

Equity

a) Equity Share Capital

b) Unsecured Perpetual Securities c) Other Equity

Liabilities

1 Non-current liabilities

a) Financial Liabilities

(i) Borrowings

(ii) Lease Liabilities (Refer Note 2)

(iii) Trade Payables

Total Equity

(a) Total outstanding dues of micro enterprises and small

enterprises

(b) Total outstanding dues of creditors other than micro enterprises and small enterprises

(iv) Other Financial Liabilities

b) Deferred Tax Liabilities (Net)

c) Provisions

d) Other Non-current liabilities

2, Current liabilities

a) Financial Liabilities

(i) Borrowings

(ii) Lease Liabilities (Refer Note 2)

(iii) Trade payables

Total - Non-current llabilltles

(a) Total outstanding dues of micro enterprises and small

enterprises

(b) Total outstanding dues of trade payables other than micro enterprises and small enterprises

(iv) Other Financial Liabilities

b) Current Tax Liabilities (Net) c) Provisions

d) Other Current Liabilities

Total - Current liabilities

Liabilities Classified as Held For Sale

Total Liabilities before Regulatory Deferral Account Regulatory Deferral Account - Liability

TOTAL - EQUITY AND LIABILITIES

As at

30-Sep-19 (Audited)

7,490 61

435 87

64 84

21,246 95

Nil

47 04

550 99

35.96

111.56

582.13

_30,565 95

506.04

304 45

1,113 47

96.28

30.22

96 96

234 58

30 12

19 89 801 73

3,233 74

3,011.73

36,811.42 699 59

37,511.01

270 50

1,500 00

13.896 87

15,667 37

8,120.81

28 88

Nil

23.69

17 63

572,12

198 34

162,51

9,123.98

7,696.44

8.07

2 80

865 43

2,514.35

107 67

59 42

445 09

11,699.27

1,020.39

21,843 64 Nil

37,511.01

z crore

As at

31-Mar-19 (Audited)

7,545.96

368.10

83.89

21,270.77

185.76

51.35

554.27

2.89

68.65

977.10

31,108 74

579.51

42.00

1,256.44

41,56

75.94

19.85

119.20

37,58

96.06 952.11

3,220,25

2,806.59

37,135,58 999.00

38,134.58

270,50

1,500,00

13.919,10

15,689.60

8,749.72

Nil

Nil

22.75

42,76

583,49

195,55

183,54

9,777.81

6,731,80

Nil

3 96

1,098.18

2,895 43 107 67

14 74

849 12

11,700.90

966,27

22,444,98 NII

311,134.blS

TATA POWER The Ta1a PDIW!r Company L1mrled

Bombay House '.?4 Hom1 Mody Slreet Mumbai 400 001

Weos1le wwwtilla�=

;;:;r, t!,��I.H'P\�AI

Audited Standalone Cash Flow Statement

A. Cash now from operating activities Prolit/(los.s) berore lax from continuing operations ProfiU(loss) before tax from discontinued operations Adjuslments to reconcile profil before Lax lo net cash flows:

Depreciation and amortisation expense Interest income Interest on income-tax refund Delayed payment charges Discount amortised/accrued on bonds (net) Dividend income Finance cost (net of capitalisation) (Gain)/loss on disposal of property, plant and equipment (net) (Gain)/loss on sale/fair value of current investment measured at fair value lhrough profit and loss (Gain)/loss on sale of non- current investments (including fair value change) Guarantee commission from subsidiaries and joint ventures Amortisation of service line contnbutions Transfer to contingency reserve Allowance for doubtful debts and advances (net) Gain on sale of investment in associates Reversal of impainnent of non-current investments and related obligation Liabilities/ provisions no longer required written back Effect of exchange flucluation (net)

Working Capital adjustments: Adjustments for (increase) / decrease in assets:

Inventories Trade receivables Fin.11.-noe lea50 ro�rt.'.-.bleo; Loans- current Loans-non current Other current assets Other non-current assels Unbilled revenue Olher financial assets - current Other financial assets - non-current Regulatory deferral account - assets

Adjuslmenls for increase I (decrease) in liabilities: Trade payables Other currenl liabililies Other non-current liabilities Current provisions Non-current provisions Other financial liabilities - current Other financial liabillties - non current Regulatory deferral account¥ liability

Cash flow from/(used in) operations Income tax paid (net of refund received)

Net cash nows from/(used) in operating activities A -Net cash nows froml(usedJ in operating activities from continuing operations •Net cash nows froml(used} in operating activities from Clisconlinuea Operations

B. Cash flow from investing activities Capital expenditure on property, plant and equipment (including capilal advances) Proceeds from sale of property, plant and equipment (including property, planl and equipment classfied as held for sale) Purchase of non current investments Proceeds rrom sale of non-currenl investments (including investments classified as held for sale) (Purchase)lproceeds from/ to sale or current investments (net) Interest received Delayed payment charges received Loans given Loans repaid Dividend received Guarantee commission received Bank balance not considered as cash and cash equivalents

Net cash flow fromllused) in investing activities B •Net cash flows froml(used) in inves1ing activities from continuing operations

-Net cash f1ows froml(used} in investing activities from discontinued operations C. Cash Flow from fin•nclng activities

Proceeds from non-current borrowings Repayment of non-current borrowings Proceeds from currenl borrowings Repayment or current borrowings Interest and other borrowing costs Dividends paid Distribution on unsecured perpetual securities Increase in capital/service line contributions Lease liabilily

Net Cash Flow from/(used) in financing activities C -Net cash f1ows froml(used) in financing activities from continuing operations -Net cash flows from/(used) in financing activities from discontinued operations

Net increase/(decrease) in cash and cash equivalents (A+B+Ct Cash and cash equivalents as at 1st April(opening balance) Cash Bnd cash eatilvalt!!nl.s. .u;; at JDth Si,ph,mller lcloslnq balam::IC!)

Cash and Cash Equ1valenls mcluae:

(a) Balances wilh banks In current accounts

(b) Bank overdraft (c) Cash credit

Cash and cash equivalents related to continuinq operations (a) Balances with banks

In current accounts (b) Book overdraft

Cash and cash equivalents related to discontinued operations


BY

SR 8 C & CO LLP

MUMBAI

Half-year ended 30th September, 2019

f erore

,10.57 (37.89)

325 12 (82 43) (10 96) (17 37)

(0 03) (305 97)

790 43 (9 00)

(6 57) (9 06)

(50 10) (3 95)

9 00 (5 36)

Nil (235 00)

0 12 1 07

IU,9'

!62.62

69 09 148 57

10 74 (2 39)

4 31 13913

119 4 2(82 35)

(3 10) (33 75) 299 41

,,1.oa

l,52B.70

(458.10) 111.34

1.22 (13.53)

1.70 (93.62) (24.21)

Nil r,os.20

1.05450 r•a 111

1,006.33 951,40 S<m

(337.BS)

10.62 \85 60\

24B,53 (271 50)

!0.i7 4 4 1

(1,797 331 I 884 33

387 13 42H

175.0il 170,ltl) (5714) (13.221

642 35 (1,4Z.B,9ll) 17.752.60

116,854.05) (721,3/l) (351,99)

(84,BO) 3 64

IB.62/

!1,050,!IS) f.006,07)

(4' 55) 111us1

7U6 (3S.12)

Asat 3Dth September, 2019

"crore

30.2< (llS 2BI

NII (JO 06)

2.85 (Q 02>

2,94 ll>,HJ

Halt-year ended 30th September, 2018

"crore

1,1195.Eil 1,102.341

314.88 ( 44 82)

(319) (114)

(273 18) 694 82 (5 4 0)

(4 77) (0 88)

(12 19) (3 66)

7 00 7 90

(1,212 99) Nil Nil

11 74 1525.61) 1.2.7:61

(20.37) (14 39)

4 58 (0 56)

0 1B 33 59

336 15 58 47 (415)

0 75 508 88

902.9J l,17.D.5:.l

(200 BS) (216 71)

(66 49) 10 04 (6 28)

2 32 (2 30}

(4115 00) 1985.271 1120) 27

(59,53) 1,146.7 .. 1,196 JS

(52611

(320.37)

II :t-1 (3,480 99)

2158.60 14.77 eo Bl

3 19 (1,591,381

1.725.77 478 08

1 t.92 (40.,l9)

(952.92) (900.90)

(52 021

?.801 ,90 (4,465 61) 10.2311.80 (7.4�3.03)

(729 51) (349.26)

(BUO) 4 71

NII 1266.20) (J93.35/

127 15 17J.38) (50,661

(1l4.041

Asat 30th September, 2018

, crore

13 91 (72 33) (89 98)

(148 40)

24 80 (0 24) 24 38

,, ....• ,



CIN L28920MH1919PLC000567

STANDALONE SEGMENT INFORMATION

Quarter ended Particulars 30-Sep-19 30-Jun-19

(Refer Nole 5) (Audited) (Audited)

Segment Revenue (Refer Note 3) Generation 1,100 98, 1,155 40 Renewables 117 12 70 17 Transmission and Distribution 1,059 85 1 089 38 Others 7 57 8 01

2,285 52 2,322 96 (Less): Inter Seament Revenue (478 591 (476 55) Total Segment Revenue 1,806,93 1,846.41

Discontinued Ooerations- Others# 85 38 32 93

Revenue / Income from Operations (including Net Movement in Regulatory Deferral Balances) 1,892.31 1,879.34

Segment Results Generation 175 71 216 14 Renewables 69 83 24 82 Transmission and Distribution 214 76 226 23 Others 3 49 4 40

Total Segment Results 463 79 471 59

(Less): Finance Costs (385 38) (386 96) Add/(Less): Exceptional Item - Generation (Refer Note 4a and 4c) (328 97 ) Add/(Less): Exceptional Item - Unallocable (Refer Note 4b and 4d) 235 00 Add/(Less): Unallocable lncomel(Exoensel /Nell 93-23 34827 Profit/(Loss) Before Tax from Continuing Operations 171.64 338.93

Profit/(Loss) Before Tax from Discontinued Operations (8.47) (29.42)

Segment Assets

Generation 4,859.32 5,452 61 Renewables 846 31 85655 Transmission and Distribution 6,158 64 6,511 95 Others 180 32 154 66 Unallocable• 23,316 74 23,321 63 Assets classified as held for sale # 2,149 68 2 085 88

Total Assets 37,511.01 38,383.28

Segment Liabilities

Generation 563 97 1,138 57 Renewables 20 84 15 75 Transmission and Distribution 1,30818 1,303 76 Others 23 81 13 43 Unallocable• 18,913 85 19,280 67 Liabilities classified as held for sale# 1 012.99 105819

Total Liabilities 21,843.64 22,810.37

Helf• yaar ended Year ended 30-Sep-18 30-Sep-19 30-Sep-18 31-Mar-19

(Audited) (Audited\ (Audited) (Audited}

1,129 68 2,256 38 2,323 69 5,263 76 118 23 187 29 189 02 271 40

1,201 29 2,149 23 2,301 26 4,320 33 8 04 15,58 14 90 3483

2,457 24 4,608 48 4,828 87 9,890 32 (502 54) (95514) (988 71\ (1,825 72} 1,954.70 3,653.34 3,840,16 8,064,60

35 35 118 31 55.57 143 59

1,990.05 3,771.65 3,895.73 8,208.19

142 05 391 85 396 34 1,142 85 72 80 94 65 96 68 82 71

374 86 440 99 590 60 1,049 88 3 65 7.8-9 7 82 19 42

593 36 935 38 1,091 44 2,294 86

(332 83) (772 34) (676 90) (1,500 35) (328 97) - (45 00)

235 00 1,212 99 1,212 99 9B.52 441.50 268 10 384 50

359.05 510.57 1,895.63 2,347.00 (51.04) (37.89} (102.34) (191.82)

5,158 62 4,859 32 5,158 62 5,786 70 918 46 846 31 918 46 857 35

6,388 04 6,158 64 6,388 04 6,427 64 143 85 180 32 143 85 153 51

23,020 43 23,316 74 23.020 43 22,845 08 2 066 44 2,149 68 2,066 44 2.064 30

37,695.84 37,511.01 37,695.84 38,134.58

1,13564 563 97 1,13564 1,360 67 14 27 20 84 14 27 18 so

1,350 80 1,308 18 1,350 80 1,365 92 10 12 23 81 10 12 31 56

18 693 60 18,913 85 18,693 60 18,702 06 1 023-42 1,012-99 102342 966 27

22,227.85 21,843.64 22,227.85 22,444.98

Generation: Comprises of generation of power from hydroelectric sources and thermal sources (coal, gas and oil) from plants owned and operated under lease arrangement and related ancillary services

Renewables: Comprises of generation of power from renewable energy sources i e wind and solar

Transmission and Distribution: Comprises of transmission and distribution network, sale of power to retail customers through distribution network and related ancillary services

Others: Comprises of project management contracts/infrastructure management services, property development and lease rent of oil tanks


Particulars

Revenue from Operations-

Addl(Les:s) Net Movement in Regulatory Deferral Balances Add/(Less): Net Movement in Regulatory Deferral Balances in respect of earlier

years Add/(Less): Deferred Tax Recoverable/(Payable) (Refer Note 3) Add/(Less): Unallocable Revenue Total Segment Revenue

Discontinued Operations- Others # Total Segment Revenue as reported above

# Pertains to Strategic Engineering Division being classified as Discontinued Operations. • Includes amount classified as held for sale other than Strategic Engineering Division


BY

SR BC & CO LLP

MUMBAI

Querter ended 30-Sep-19 30-Jun-19 (Audited) (Audited)

1,993.21 2,036 54 (233 27) (217 62)

52,82 34 62 (5 83) (7 13)

1,806 93 1,84641 85 38 32 93

1,892.31 1,879.34

30-Sep-18 (Audited)

1,852.90 (170 84)

274 26 534

(6 96) 1,954 70

35 35 1,990.05

Half-year ende<I 30-Sep-19 30-Sep-18 (Audited) (Audited)

4,029 75 3,811.01 (450 89) (272 56)

- 274 26 87 44 42 73

(12 96) (15 28)

3,653 34 3,840 16 118 31 55 57

3,771.65 3,895.73

f crore Year ended 31-Mar-19 (Audited)

8,255 25 (519 03)

274 26 9819

(44 07) 8,064 60

143 59 8,208.19

NOTES TO STANDALONE FINANCIAL RESULTS-Q2 FY 20

1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meetingheld on 8th November, 2019.

2. The Company has applied Ind AS 116 'Leases" (Ind AS 116) using modified retrospective approach, underwhich the cumulative effect of initial application is recognized as at 1st April, 2019. On adoption of Ind AS 116,the Company has recognized 'Right-of-use' assets amounting to� 249 crore (including reclassification of leaseprepayment from other assets amounting to � 206 crore) and 'Lease liabilities' amounting to � 43 crore as at1st April, 2019. Had the Company continued to apply previous lease accounting standard, during the half yearand quarter ended 30th September, 2019, finance costs and depreciation would have been lower by � 2 crore(Quarter ended 30th September, 2019: � 1 crore) and� 6 crore (Quarter ended 30th September, 2019: � 3crore) respectively and other expenses and profit before tax from continuing operations would have been higherby t 7 crore (Quarter ended 30th September, 2019: � 4 crore) and� 1 crore (Quarter ended 30th September,2019: � Nil) respectively. There is no impact on retained earnings as at 1st April, 2019.

3. In the regulated operations of the Company where tariff recovered from consumers is determined on cost plusreturn on equity, the Income tax cost is pass through cost and accordingly the Company recognizes Deferredtax recoverable / payable against any Deferred tax expense / income. Until previous year, the same waspresented under 'Tax Expenses' in the Financial Results. During the period, pursuant to an opinion by the ExpertAdvisory Committee of The Institute of Chartered Accountants of India, the same has now been included in'Revenue from Operations' in case of Generation and Transmission Divisions and 'Net Movement in RegulatoryDeferral Balances' in case of Distribution Division. There is no impact in the Other equity and Profit/ (Loss) onaccount of such change in presentation. Impact of this restatement in the comparative period is as follows:

4.

Particulars

Revenue from Operations - Increase/ (Decrease)

Movement in Net Regulatory Deferral Balances -

Income/ (Expense)

Tax (expense)/ credit

Basic and diluted EPS from continuing operations before movement in regulatory deferral balances- Increase/ (Decrease)

Exceptional items:

Quarter ended 30-Sep-18

34.49

5.34

(39.83)

(0.01)

(� crore) Half year Year

ended ended 30-Sep-18 31-Mar-19

46.92 322.42

42.73 98.19

(89.65) (420.61)

(0.10) (0.23)

a. With respect to standby litigation with Adani Electricity Mumbai Limited (Adani Electricity), the Hon'bleSupreme Court during the half year ended 30th September, 2019, has upheld Appellate Tribunal forElectricity (APTEL) order dated 20th December, 2006 directing the Company to pay � 354 crore along withinterest at 10% per annum from 1st April, 2004 up to the date of payment. Consequently, the Company hasrecognized an expense of� 329 crore net of amount recoverable from customers including adjustment withconsumer reserves.

b. During the quarter ended 30th June, 2019, pursuant to debt restructuring of Adjaristsqali Georgia LLC (ajoint venture of Tata Power International PTE Limited ('TPIPL')), significant progress towards execution oflong term power purchase agreement with Government of Georgia and receipt of insurance claims, theCompany has reversed provision for financial guarantee obligation and impairment towards its investmentin wholly owned subsidiary TPIPL amounting to � 235 crore.

c. During the year ended 31st March, 2019, the Company had decided to avail Government of Maharashtraamnesty scheme with respect to entry tax litigation for settlement of arrears of tax, interest and penalty.Accordingly, the Company recognized provision towards settlement including provision towards penalty of

� 45 crore. Further during the quarter ended 30th June,2019, the Company has received final settlementorder under the said scheme and pursuant to the said order, the Company has reversed the excess provisionrelated to entry tax under the head 'Cost of Fuel' and corresponding recovery from customers under thehead 'Revenue from operations' amounting to � 68 crore.

d. During the year ended 31st March, 2019, the Company had sold its investments in Tata CommunicationLimited and Panatone Finvest Limited /Associ:::1tF> C:nmn:::1ni� s) and recognized a gain on sale of investmentsamounting to � 1,213 crore. SIGNED FOR IDENTIFICATION

BY

- - - - - l"I .-- In

5. From the current period, the Company has changed its organization structure into various operating verticals forefficient monitoring and pursuing growth. Consequently, reporting to Chief Operating Decision Maker has beenchanged which has resulted into change in the composition of reportable segments. Accordingly, correspondinginformation for comparative periods has been restated in the segment results.

6. During the quarter ended 30th June, 2019, pursuant to Advance Pricing Agreement with Income TaxDepartment, the Company has recognized guarantee commission income of� 38 crore from its subsidiariesand joint ventures pertaining to earlier years.

7. Pursuant to the Taxation Law (Amendment) Ordinance, 2019 ('Ordinance') issued by Ministry of Law and Justice(Legislative Department) on September 20, 2019 which is effective from April 1, 2019, domestic companieshave the option to pay income tax at 22% plus applicable surcharge and cess ('new tax regime') subject tocertain conditions Company is in the process of evaluating the option available in the Ordinance. Pendingevaluation, Company has not given any effect of the Ordinance in the financial results.

8. (a) Debt Service Coverage Ratio = (Profit before tax + interest expenses + depreciation and amortizationexpenses)/ (interest expenses+ scheduled principal repayment of long-term loans) •(b) Interest Service Coverage Ratio = (Profit before tax+ interest expenses)/ Interest expenses

• For the purpose of computation, scheduled principal repayment of long-term loans does not includepre-payments including prepayment by exercise of call/put option.

9. Figures for the previous periods/year are re-classified/re-arranged/re-grouped, wherever necessary

SIGNED FOR IDENTIFICATION BY

�'I-S R B C & CO LLP

MUMBAI

Date: 8th November, 2019

.r. T.I\TI\


p __ PRAVEER SINHA

CEO & Managing Director DIN 01785164

SR BC& CO LLP 12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West)

Chartered Accountants Mumbai - 400 028, India

Tel : +91 22 6819 8000

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended

To The Board of Directors The Tata Power Company Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly standalone financial results of The Tata Power Company Limited (the "Company"), for the quarter ended September 30, 2019 and the year to date results for the period from April 1, 2019 to September 30, 2019 (the "Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

(the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

i. is presented in accordance with the requirements of the Listing Regulations in thisregard; and

ii. gives a true and fair view in conformity with the recognition and measurement principleslaid down in the applicable Indian Accounting Standards and other accounting principlesgenerally accepted in India of the total comprehensive income (comprising of net profitand other comprehensive loss) and other financial information of the Company for the

quarter ended September 30, 2019 and year to date results for the period from April 1,2019 to September 30, 2019.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10). of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the

Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India

together with the ethical requirements that are relevant to our audit of the standalone financial results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other

ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Standalone Financial Results

These quarterly standalone financial results as well as the year to date standalone financial results have been prepared on the basis of the interim condensed financial statements. The Board of

Directors of the Company are responsible for the preparation of the Statement that gives a true and fair view of the net profit and other comprehensive loss of the Company and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS -34), 'Interim Financial Reporting' prescribed under Section 133

of the Act read with relevant rules issued thereunder and other accounting principles generally

��:::::a;;;...-ccepted in India and in compliance with Regulation 33 of the Listing Regulations.

SR BC & CO LLP, a Limited Liability Partnership with LLP Identity No, AAB-4318

Regd. Office: 22, Camac Street. Blork 'B', 3rd Floor, Kolkala-700 016



Page 2 of 3

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and

detecting frauds and other irregularities; selection and application of appropriate accounting

policies; making judgments and estimates that are reasonable and prudent; and the design,

implementation and maintenance of adequate internal financial controls, that were operating

effectively for ensuring the accuracy and completeness of the accounting records, relevant to the

preparation and presentation of the Statement that give a true and fair view and are free from

material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's

ability to continue as a going concern, disclosing, as applicable, matters related to going concern

and using the going concern basis of accounting unless the Board of Directors either intends to

liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting

process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole are

free from material misstatement, whether due to fraud or error, and to issue an auditor's report

that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee

that an audit r::onducted in accordance with SAs will always detect a material misstatement when

it exists. Misstatements can arise from fraud or error and are considered material if, individually

or in the aggregate, they could reasonably be expected to influence the economic decisions of

users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain

professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to

fraud or error, design and perform audit procedures responsive to those risks, and obtain

audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk

of not detecting a material misstatement resulting from fraud is higher than for one

resulting from error, as fraud may involve collusion, forgery, intentional omissions,

misrepresentations, or the override of internal control.• Obtain an understanding of internal control relevant to the audit in order to design audit

procedures that are appropriate in the circumstances but not for the purpose of expressing

an opinion on the operating effectiveness of the Company's internal control.• Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by the Board of Directors.• Conclude on the appropriateness of the Board of Directors' use of the going concern basis

of accounting and, based on the audit evidence obtained, whether a material uncertainty

exists related to events or conditions that may cast significant doubt on the Company's

ability to continue as a going concern. If we conclude that a material uncertainty exists,

we are required to draw attention in our auditor's report to the related disclosures in the

standalone financial results or, if such disclosures are inadequate, to modify our opinion.

Our conclusions are based on the audit evidence obtained up to the date of our auditor's

report. However, future events or conditions may cause the Company to cease to continue

as a going concern.• Evaluate the overall presentation, structure and content of the Statement, including the

disclosures, and whether the Statement represents the underlying transactions and

events in a manner that achieves fair presentation.



We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

For S R B C & CO LLP Chartered Accountants ICAI Firm Registration Number: 324982E/E300003

per Abhi hek Agarwal Partner Membership No.: 112773

UDIN: 19112773AAAAH02969

Mumbai November 8, 2019

Sr.No

a, b, C,

d. e, f g, h,

Notes: 1, 2,

Sr.No.

a. b, C,

d, e, f. g. h,



CIN: L28920MH1919PLC000567

EXTRACT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER/HALF YEAR ENDED 30TH, SEPTEMBER 2019

Quarter Quarter Quarter Half-Year Half-Year ended ended ended ended ended

Consolidated 30-Sep-19 30-Jun-19 30-Sep-18 30-Sep-19 30-Seo-1B (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)

Total Income from operations 7,677.82 7,766 72 7,353 41 15,444 54 14,66B 61 Profit/ (Loss) before Exceptional items and tax 541.98 686 85 578 5B 1,228 B3 1,090 26 Profit/ (Loss) before Tax 541.9B 592,88 578.58 1,134.86 2,987 50 Profit/ (Loss) for the period/year 350.81 230 80 393 36 581 61 2,128 48 Total Comprehensive Income 506 45 216 36 804 61 722.81 2,701 31 Paid-up Equity Share Capital (Face Value: { 1 /- per share) 270.50 270 50 270 50 270 50 270 50 Total Reserves Earnings Per Equity Share (of { 1/- each) (not annualised) Basic and Diluted: (In {) (i) From Continuing Operations before net movement in

regulatory deferral balances 1-64 1 01 1.44 2 65 7 91 (ii) From Continuing Operations after net movement in

regulatory deferral balances 0 80 0,53 1.26 1 33 7 45 (iii) From Discontinued Operations (0 02) (0 07) (0,13) (0 09) (0,25) (iv) Total Operations after net movement in regulatory

deferral balances 0 78 0.46 1.13 1 24 7 20

{ crore Year ended

31-Mar-19 (Audited)

29,881 06 1,968 13 3,713 96 2,440 41 2,604 85

270.50 16,450.66

7.90

8 15 (0.46)

7 69

The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 8th November, 2019, Financial Information of the standalone financial results of the Company is as follows:

f crore Quarter Quarter Quarter Half-Year Half-Year Year ended ended ended ended ended ended

Standalone 30-Sep-19 30-Jun-19 30-Sep-1B 30-Seo-19 30-Seo-18 31-Mar-19 (Audited) (Audited) (Audited) (Audited) (Audited) (Audited)

Total Income from operations 1,993 21 2,036 54 1,852.90 4,029 75 3,811.01 8,255.25 Profit I (Loss) before Exceptional items and tax 171 64 432 90 359.05 604 54 682,64 1,179.01 Profit I (Loss) before Tax 171.64 338.93 359.05 510 57 1,895,63 2,347,00 Profit I (Loss) for the period/year 154 61 296 51 265,37 451.12 1,399,14 1,708,58 Total Comprehensive Income 109.40 305 16 266 02 414 56 1,386,62 1,663.94 Paid-up Equity Share Capital (Face Value: � 1 /- per share) 270.50 270 50 270 50 270 50 270,50 270,50 Total Reserves 13,919.10 Earnings Per Equity Share (of� 1 /- each) (not annualised) Basic and Diluted: (In �) (i) From Continuing Operations before net movement in

regulatory deferral balances 0.81 1.50 0.74 2,31 5.10 6.72 (ii) From Continuing Operations after net movement in

regulatory deferral balances 0 38 1.06 1,00 1.44 5,21 6 36 (iii) From Discontinued Operations (0.02) (0.07) (0.12) (0.09) (0,25) (0.46) (iv) Total Operations after net movement in regulatory

deferral balances 0,36 0,99 0,88 1.35 4,96 5,90

3. The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015 The full format of the Quarterly Financial Results is available on the Stock Exchange websites www nseindia com and www.bseindia com and on the Company's website www tatapower.com.

Date: 8th November, 2019 Place: Mumbai



DIN 01785164

anyata€¦ · newage power designation: nagar, p balu "marg, company private independent,...

Documents