HAVELLS INDIA LIMITED

Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[700300] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Name of company HAVELLS INDIA LIMITED
Corporate identity number L31900DL1983PLC016304
Permanent account number of entity AAACH0351E
904, 9th Floor, Surya
Kiran Building , K G Marg,
Address of registered office of company Connaught Place , New
Delhi Central Delhi ,
DELHI , INDIA - 110001
Commercial and
Type of industry Industrial
Date of start of reporting period 01/04/2022 01/04/2021
Date of end of reporting period 31/03/2023 31/03/2022
Nature of report standalone consolidated Consolidated
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Crores
Type of cash flow statement Indirect Method

[700600] Disclosures - Directors report

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022
to
31/03/2023
Disclosure in board of directors report explanatory [TextBlock]
Particulars of contracts/arrangements with related parties under section
188(1) [TextBlock]
Details of contracts/arrangements/transactions not at arm's length
basis [Abstract]
Details of contracts/arrangements/transactions not at arm's length
basis [LineItems]
Name of related party
Details of material contracts/arrangements/transactions at arm's
length basis [Abstract]
Details of material contracts/arrangements/transactions at arm's
length basis [LineItems]
Name of related party
Disclosure of extract of annual return as provided under section 92(3)
[TextBlock]
Particulars of holding, subsidiary and associate companies [Abstract]
Particulars of holding, subsidiary and associate companies
[LineItems]
Name of company HAVELLS INDIA LIMITED
Details of shareholding pattern of top 10 shareholders [Abstract]
Details of shareholding pattern of top 10 shareholders [LineItems]
Name of shareholder
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[700400] Disclosures - Auditors report

Details regarding auditors [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Auditors [Axis] 1
01/04/2022
to
31/03/2023
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Price Waterhouse &
Name of audit firm Co Chartered
Accountants LLP
Name of auditor signing report Sougata Mukherjee
Firms registration number of audit firm 304026E/ E-300009
Membership number of auditor 057084
Price Waterhouse &
Co Chartered
Accountants LLP,
Building No. 8, 8th
Address of auditors floor, Tower B,
DLF Cyber City
Gurgaon 122002,
Haryana
Permanent account number of auditor or auditor's firm AAHFP0187A
SRN of form ADT-1 T29335213
Date of signing audit report by auditors 03/05/2023
Date of signing of balance sheet by auditors 03/05/2023

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022
to
31/03/2023
Textual information (1)
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company No
Whether auditors' report has been qualified or has any reservations or
No
contains adverse remarks

2
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (1)

Disclosure in auditor’s report explanatory [Text Block]

Independent auditor’s report

To the Members of Havells India Limited

Report on the Audit of the Consolidated Financial Statements

Opinion

1.We have audited the accompanying consolidated financial statements of Havells India Limited (hereinafter referred to as
the “Holding Company”) and its subsidiaries (Holding Company and its subsidiaries together referred to as “the Group”) (refer
Note 30B to the attached consolidated financial statements), which comprise the consolidated Balance Sheet as at March 31,
2023, and the consolidated Statement of Profit and Loss including Other Comprehensive Income, the consolidated Statement
of Changes in Equity and the consolidated Statement of Cash Flows for the year then ended, and notes to the consolidated
financial statements, including a summary of significant accounting policies and other explanatory information (hereinafter
referred to as “the consolidated financial statements”).

2.In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated
financial statements give the information required by the Companies Act, 2013 (“the Act”) in the manner so required and give
a true and fair view in conformity with the accounting principles generally accepted in India, of the consolidated state of affairs
of the Group, as at March 31, 2023, and consolidated total comprehensive income (comprising of profit and other
comprehensive income), consolidated changes in equity and its consolidated cash flows for the year then ended.

Basis for Opinion

3.We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act.
Our responsibilities under those Standards are further described in the “Auditor’s Responsibilities for the Audit of the
Consolidated Financial Statements” section of our report. We are independent of the Group, in accordance with the ethical
requirements that are relevant to our audit of the consolidated financial statements in India in terms of the Code of Ethics
issued by the Institute of Chartered Accountants of India and the relevant provisions of the Act, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained
and the audit evidence obtained by the other auditors in terms of their reports referred to in sub-paragraph 15 of the Other
Matters section below, other than the unaudited financial statements as certified by the management and referred to in
sub-paragraph 14 of the Other Matters section below, is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

4.Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the
consolidated financial statements of the current period. These matters were addressed in the context of our audit of the
consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion
on these matters. We have determined the matters described below to be the key audit matters to be communicated in our
report.

How our audit addressed the key audit

Key audit matter
matter

Assessment of impairment of goodwill and intangible assets with indefinite Our audit procedures among others,
useful lives included the following:

Refer Note 4 to the consolidated financial a. Understanding and evaluating the

statements. design and operating effectiveness of
internal controls over the impairment

3
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

As at March 31, 2023, the consolidated financial statements includes goodwill assessment process, including preparation
of Rs. 310.47 crores and intangible assets with indefinite useful lives of Rs. of the DCF model;
1,029 crores pertaining to acquisition of Lloyd business in an earlier year.
b. Evaluating the Group's accounting policy
In accordance with the requirements of Indian Accounting Standard (Ind AS) - in respect of impairment assessment of
36 'Impairment of Assets', the management has allocated the said goodwill goodwill and intangible assets with
and intangible assets to the underlying Cash Generating Unit (CGU), and indefinite useful lives;
tested the same for impairment using a Discounted Cash Flow (DCF) model.
Based on such test, the recoverable amount of the CGU is higher than the c. Understanding the cash flow projections
carrying amount of the said assets and accordingly no adjustment for and assumptions used in the DCF model,
impairment is necessary. evaluating the mathematical accuracy and
reading the report of the management’s
We considered this as a key audit matter because of the significant carrying expert;
value of the above mentioned assets and high estimation uncertainty in
d. Together with auditor's valuation
experts, testing the appropriateness of the
DCF model and key assumptions therein
and performing sensitivity analysis over key
assumptions to corroborate that the
recoverable amount of the CGU is within a
reasonable range; and

e. Testing related presentation and

disclosures in the consolidated financial
statements.
Based on the above procedures

4
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

assumptions used such as discount rate, rate of growth over the estimation performed,the management's impairment
period and terminal growth rate which are affected by future market and assessment of the goodwill and intangible
economic conditions and, hence, are inherently uncertain. assets was found to be reasonable.

Other Information

5.The Holding Company’s Board of Directors is responsible for the other information. The other information comprises the
information included in the Annual report but does not include the consolidated financial statements and our auditor’s report
thereon.

Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.

In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed
and the reports of the other auditors as furnished to us (Refer paragraph 15 below), we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

6.The Holding Company’s Board of Directors is responsible for the preparation and presentation of these consolidated
financial statements in term of the requirements of the Act that give a true and fair view of the consolidated financial position,
consolidated financial performance and consolidated cash flows, and changes in equity of the Group in accordance with the
accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act.
The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group 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 accuracy and completeness of the accounting records, relevant
to the preparation and presentation of the consolidated financial statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the
consolidated financial statements by the Directors of the Holding Company, as aforesaid.

7.In preparing the consolidated financial statements, the respective Board of Directors of the companies included in the
Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless management either intends to
liquidate the Group or to cease operations, or has no realistic alternative but to do so.

8.The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial
reporting process of the Group.

Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements

9.Our objectives are to obtain reasonable assurance about whether the consolidated financial statements 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 these consolidated financial statements.

10.As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism
throughout the audit. We also:

-Identify and assess the risks of material misstatement of the consolidated financial statements, 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.

5
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

-Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in
the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the
Holding Company has adequate internal financial controls with reference to consolidated financial statements in place and
the operating effectiveness of such controls.

-Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by management.

-Conclude on the appropriateness of management’s 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
ability of the Group 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 consolidated financial statements 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 Group to cease to continue as a going concern.

-Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures,
and whether the consolidated financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.

-Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the
Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and
performance of the audit of the financial statements of such entities included in the consolidated financial statements of which
we are the independent auditors. For the other entities included in the consolidated financial statements, which have been
audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits
carried out by them. We remain solely responsible for our audit opinion.

11.We communicate with those charged with governance of the Holding Company and such other entities included in the
consolidated financial statements of which we are the independent auditors 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.

12.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.

13.From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters.
We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the
adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such
communication.

Other Matters

14.We did not audit the financial statements of one subsidiary located outside India, whose financial statements reflect total
assets of Rs Nil and net assets of Rs Nil as at March 31, 2023, total revenue of Rs. Nil, total comprehensive income
(comprising of loss and other comprehensive income) of Rs (0.04) crores and net cash outflows amounting to Rs 4.39 crores
for the period April 01, 2022 till October 27, 2022 (dissolution date), as considered in the consolidated financial statements.
These financial statements are unaudited and have been furnished to us by the Management, and our opinion on the
consolidated financial statements in so far as it relates to the amounts and disclosures included in respect of this subsidiary
and our report in terms of sub-section (3) of Section 143 of the Act including report on Other Information in so far as it relates
to the aforesaid subsidiary, is based solely on such unaudited financial statements. In our opinion and according to the
information and explanations given to us by the Management, these financial statements are not material to the Group.

15.The financial statements of one subsidiary located outside India, included in the consolidated financial statements, which
constitute total assets of Rs 14.69 crores and net assets of Rs 11.42 crores as at March 31, 2023, total revenue of Rs. 42.35
crores, total comprehensive income (comprising of loss and other comprehensive income) of Rs 0.36 crores and net cash
inflows amounting to Rs 0.55 crores for the year then ended have been prepared in accordance with accounting principles
generally accepted in its country and have been audited by other auditors under generally accepted auditing standards
applicable in its country. The Holding Company’s management has converted the financial statements of such subsidiary
located outside India from the accounting principles generally accepted in its country to the accounting principles generally
accepted in India. We have audited these conversion adjustments made by the Holding Company’s management. Our

6
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

opinion in so far as it relates to the balances and affairs of such subsidiary located outside India, including other information,
is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding
Company and audited by us.

Our opinion on the consolidated financial statements, and our report on Other Legal and Regulatory Requirements below, is
not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other
auditors and the financial statements certified by the Management.

Report on Other Legal and Regulatory Requirements

16.As required by paragraph 3(xxi) of the Companies (Auditor’s Report) Order, 2020 (“CARO 2020”), issued by the Central
Government of India in terms of sub-section (11) of Section 143 of the Act, we report that there are no qualifications or
adverse remarks included in the CARO 2020 report issued in respect of the standalone financial statements of the Holding
Company which are included in these Consolidated Financial Statements.

In our opinion, and according to the information and explanations given to us, CARO 2020 is not applicable to the subsidiary
companies included in these Consolidated Financial Statements, hence, this report does not contain a statement on the
matter specified in paragraph 3(xxi) of CARO 2020 in relation to the subsidiary companies.

17.As required by Section 143(3) of the Act, we report, to the extent applicable, that:

(a)We have sought and obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purposes of our audit of the aforesaid consolidated financial statements.

(b)In our opinion, proper books of account as required by law relating to preparation of the aforesaid consolidated financial
statements have been kept so far as it appears from our examination of those books and the reports of the other auditors.

(c)The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss (including other comprehensive income),
the Consolidated Statement of Changes in Equity and the Consolidated Statement of Cash Flows dealt with by this Report
are in agreement with the relevant books of account and records maintained for the purpose of preparation of the
consolidated financial statements.

(d)In our opinion, the aforesaid consolidated financial statements comply with the Accounting Standards specified under
Section 133 of the Act.

(e)On the basis of the written representations received from the directors of the Holding Company as on March 31, 2023
taken on record by the Board of Directors of the Holding Company, none of the directors of the Holding Company is
disqualified as on March 31, 2023 from being appointed as a director in terms of Section 164(2) of the Act.

(f)With respect to the adequacy of internal financial controls with reference to consolidated financial statements of the Group
and the operating effectiveness of such controls, refer to our separate report in Annexure A.

(g)With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies
(Audit and Auditor’s) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to
us:

i.The consolidated financial statements disclose the impact, if any, of pending litigations on the consolidated financial position
of the Group – Refer Note 30A to the consolidated financial statements.

ii.The Group was not required to recognise a provision as at March 31, 2023 under the applicable law or accounting
standards, as it does not have any material foreseeable losses on long-term contract. The Group did not have any derivative
contracts as at March 31, 2023.

iii.There has been no delay in transferring amounts required to be transferred to the Investor Education and Protection Fund
by the Holding Company during the year.

iv.(a)The Management of the Holding Company has represented to us that, to the best of their knowledge and belief, as

7
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

disclosed in the notes to the accounts, no funds (which are material either individually or in the aggregate) have been
advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the
Holding Company or any of such subsidiaries to or in any other person(s) or entity(ies), including foreign entities
(“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or

8
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Holding
Company or any of such subsidiaries (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries (Refer Note 31(16)(ii) to the consolidated financial statements).

(b) The Management of the Holding Company has represented to us that, to the best of their knowledge and belief, as
disclosed in the notes to the accounts, no funds (which are material either individually or in the aggregate) have been
received by the Holding Company or any of such subsidiaries from any person(s) or entity(ies), including foreign entities
(“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Holding Company or any of
such subsidiaries shall, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries (Refer Note 31(16)(ii) to the consolidated financial statements).

(c)Based on the audit procedures, that has been considered reasonable and appropriate in the circumstances, performed by
us, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule
11(e) contain any material misstatement.

v.The dividend declared and paid during the year by the Holding Company is in compliance with Section 123 of the Act.

18.The Group has paid/ provided for managerial remuneration in accordance with the requisite approvals mandated by the
provisions of Section 197 read with Schedule V to the Act.

19.As provison to Rule 3(1) of the Companies (Accounts) Rules, 2014 (as amended), which provides for the feature of
recording of audit trail (edit log) facility in the accounting software used by the Group, for maintenance of books of account
and related matters, is applicable for the Holding Company only with effect from financial year beginning April 1, 2023, the
reporting under clause (g) of Rule 11 is currently not applicable.

For Price Waterhouse & Co Chartered Accountants LLP

Firm Registration Number: 304026E/ E-300009

Sougata Mukherjee

Partner

Membership Number: 057084

UDIN: 23057084BGYFRC1110

Place: Gurugram

Date: May 03, 2023

Annexure A to Independent Auditor’s Report

Referred to in paragraph 17(f) of the Independent Auditor’s Report of even date to the members of Havells India Limited on
the consolidated financial statements for the year ended March 31, 2023

Report on the Internal Financial Controls with reference to Consolidated Financial Statements under clause (i) of sub-section

9
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

3 of Section 143 of the Act

1.In conjunction with our audit of the consolidated financial statements of the Company as of and for the year ended March
31, 2023, we have audited the internal financial controls with reference to financial statements of Havells India Limited
(hereinafter referred to as “the Holding Company”). Reporting under clause (i) of sub section 3 of Section 143 of the Act in
respect of the adequacy of the internal financial controls with reference to financial statements is not applicable to two
subsidiaries as they are not incorporated in India namely Havells Guangzhou International Limited and Havells Holdings
Limited (dissolved on October 27, 2022).

Management’s Responsibility for Internal Financial Controls

2.The Board of Directors of the Holding Company, is responsible for establishing and maintaining internal financial controls
based on internal control over financial reporting criteria established by the Company considering the essential components
of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (“the
Guidance Note”) issued by the Institute of Chartered Accountants of India (“ICAI”). These responsibilities include the design,
implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the
orderly and efficient conduct of its business, including adherence to the Company’s policies, the safeguarding of its assets,
the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely
preparation of reliable financial information, as required under the Act.

Auditor’s Responsibility

3.Our responsibility is to express an opinion on the Company's internal financial controls with reference to financial
statements based on our audit. We conducted our audit in accordance with the Guidance Note issued by the ICAI and the
Standards on Auditing deemed to be prescribed under Section 143(10) of the Companies Act, 2013, to the extent applicable
to an audit of internal financial controls, both applicable to an audit of internal financial controls and both issued by the ICAI.
Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether adequate internal financial controls with reference to financial statements was
established and maintained and if such controls operated effectively in all material respects.

4.Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls
system with reference to financial statements and their operating effectiveness. Our audit of internal financial controls with
reference to financial statements included obtaining an understanding of internal financial controls with reference to financial
statements, assessing the risk that a material weakness exists, and testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement,
including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

5.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on
the Holding Company’s internal financial controls system with reference to consolidated financial statements.

Meaning of Internal Financial Controls with reference to financial statements

6.A company's internal financial control with reference to financial statements is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. A company's internal financial control with reference to financial
statements includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with
authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorised acquisition, use, or disposition of the company's assets that could have a material effect on
the financial statements.

Inherent Limitations of Internal Financial Controls with reference to financial statements

7.Because of the inherent limitations of internal financial controls with reference to financial statements, including the
possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur
and not be detected. Also, projections of any evaluation of the internal financial controls with reference to financial statements
to future periods are subject to the risk that the internal financial control with reference to financial statements may become
inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may
deteriorate.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Opinion

8.In our opinion, the Holding Company has, in all material respects, an adequate internal financial controls system with
reference to financial statements and such internal financial controls with reference to financial statements were operating
effectively as at March 31, 2023, based on the internal control over financial reporting criteria established by the Company
considering the essential components of internal control stated in the Guidance Note issued by the ICAI.

For Price Waterhouse & Co Chartered Accountants LLP

Firm Registration Number: 304026E/ E-300009

Sougata Mukherjee

Partner

Membership Number: 057084

UDIN: 23057084BGYFRC1110

Place: Gurugram

Date: May 03, 2023

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[110000] Balance sheet

Unless otherwise specified, all monetary values are in Crores of INR
31/03/2023 31/03/2022 31/03/2021
Balance sheet [Abstract]
Assets [Abstract]
Non-current assets [Abstract]
Property, plant and equipment 2,227.85 2,021.45 1,860.83
Capital work-in-progress 163.42 56.75
Goodwill 310.47 310.47
Other intangible assets 1,082.33 1,101.69 1,119.13
Intangible assets under development 2.99 0.46
Non-current financial assets [Abstract]
Non-current investments 20 272.68
Trade receivables, non-current 1.59 2.67
Loans, non-current 0 0

Other non-current financial assets (A) 174.65 (B) 81.01

Total non-current financial assets 196.24 356.36

Other non-current assets (C) 107.97 (D) 69.47

Total non-current assets 4,091.27 3,916.65
Current assets [Abstract]
Inventories 3,708.58 2,968.08
Current financial assets [Abstract]
Current investments 180.87 153.42
Trade receivables, current 973.94 766.26
Cash and cash equivalents 465.16 775.84
Bank balance other than cash and cash equivalents 1,405.01 1,772.14
Loans, current 0 0

Other current financial assets (E) 143.56 (F) 56.44

Total current financial assets 3,168.54 3,524.1
Other current assets 178.52 113.65
Total current assets 7,055.64 6,605.83
Non-current assets classified as held for sale 10.53 0.73
Total assets 11,157.44 10,523.21
Equity and liabilities [Abstract]
Equity [Abstract]
Equity attributable to owners of parent [Abstract]
Equity share capital 62.6509738 62.6303067 62.6013006
Other equity 6,562.8 5,940.26
Total equity attributable to owners of parent 6,625.45 6,002.89
Non controlling interest 0 0
Total equity 6,625.45 6,002.89
Liabilities [Abstract]
Non-current liabilities [Abstract]
Non-current financial liabilities [Abstract]
Borrowings, non-current 0 272.57

Other non-current financial liabilities (G) 198.22 (H) 187.77

Total non-current financial liabilities 198.22 460.34
Provisions, non-current 136.72 76.25
Deferred tax liabilities (net) 361.51 350.62
Total non-current liabilities 696.45 887.21
Current liabilities [Abstract]
Current financial liabilities [Abstract]
Borrowings, current 0 122.96

Trade payables, current (I) 2,643.19 (J) 2,380.02

Other current financial liabilities (K) 745.46 (L) 624.56
Total current financial liabilities 3,388.65 3,127.54
Other current liabilities 139.72 189.51
Provisions, current 274.91 253.23
Current tax liabilities 32.26 62.83
Total current liabilities 3,835.54 3,633.11

12
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Total liabilities 4,531.99 4,520.32

Total equity and liabilities 11,157.44 10,523.21

13
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Footnotes
(A)
Particulars 2022-23

(iii) Other financial assets 149.08

Contract assets 25.57

(B)
Particulars 2021-22

(iii) Other financial assets 42.18

Contract assets 38.83

(C)
Particulars 2022-23

Other non-current assets 78.94

Non Current tax assets (net) 29.03

(D)
Particulars 2021-22

Other non-current assets 42.93

Non Current tax assets (net) 26.54

(E)
Particulars 2022-23

(v) Other financial assets 116.89

Contract assets 26.67

(F)
Particulars 2021-22

(v) Other financial assets 29.89

Contract assets 26.55

(G)
Particulars 2022-23

(ii) Lease liabilities 186.91

(iii) Other financial liabilities 7.21

Contract liabilities 4.1

(H)
Particulars 2021-22

(ii) Lease liabilities 178.82

(iii) Other financial liabilities 3.96

Contract liabilities 4.99

(I)
Particulars 2022-23

a) Total outstanding dues of micro enterprises and small enterprises; and 154.96

b) Total outstanding dues of creditors other than micro enterprises and small enterprises 2488.23

(J)

14
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Particulars 2021-22

a) Total outstanding dues of micro enterprises and small enterprises; and 114.08

b) Total outstanding dues of creditors other than micro enterprises and small enterprises 2265.94

(K)
Particulars 2022-23

(ii) Lease liabilities 36.19

(iv) Other financial liabilities 624.85

Contract liabilities 84.42

(L)
Particulars 2021-22

(ii) Lease liabilities 42.05

(iv) Other financial liabilities 525.48

Contract liabilities 57.03

[210000] Statement of profit and loss

Earnings per share [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of equity share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Statement of profit and loss [Abstract]
Earnings per share explanatory [TextBlock]
Earnings per share [Abstract]
Earnings per share [Line items]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from
[INR/shares] 17.11 [INR/shares] 19.11 [INR/shares] 17.11 [INR/shares] 19.1
continuing operations
Total basic earnings (loss) per share [INR/shares] 17.11 [INR/shares] 19.11 [INR/shares] 17.11 [INR/shares] 19.1
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from
[INR/shares] 17.11 [INR/shares] 19.11 [INR/shares] 17.11 [INR/shares] 19.1
continuing operations
Total diluted earnings (loss) per share [INR/shares] 17.11 [INR/shares] 19.11 [INR/shares] 17.11 [INR/shares] 19.1

15
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Statement of profit and loss [Abstract]
Income [Abstract]
Revenue from operations 16,910.73 13,938.48
Other income 177.71 160.44
Total income 17,088.44 14,098.92
Expenses [Abstract]
Cost of materials consumed 9,317.92 7,770.07
Purchases of stock-in-trade 3,028.75 1,871.4
Changes in inventories of finished goods, work-in-progress and
-641.2 -219.48
stock-in-trade
Employee benefit expense 1,268.32 1,020.69
Finance costs 33.62 53.41
Depreciation, depletion and amortisation expense 296.17 260.89

Other expenses (A) 2,337.8 (B) 1,735.38

Total expenses 15,641.38 12,492.36
Profit before exceptional items and tax 1,447.06 1,606.56
Exceptional items before tax (C) 0 (D) 0
Total profit before tax 1,447.06 1,606.56
Tax expense [Abstract]
Current tax 364.44 398.58
Deferred tax 10.89 11.51
Total tax expense 375.33 410.09
Total profit (loss) for period from continuing operations 1,071.73 1,196.47
Total profit (loss) for period 1,071.73 1,196.47
Comprehensive income OCI components presented net of tax [Abstract]
Whether company has other comprehensive income OCI components
No No
presented net of tax
Other comprehensive income net of tax [Abstract]
Total other comprehensive income -7.73 6.18
Total comprehensive income 1,064 1,202.65
Comprehensive income OCI components presented before tax [Abstract]
Whether company has comprehensive income OCI components presented
Yes Yes
before tax
Other comprehensive income before tax [Abstract]
Components of other comprehensive income that will not be
reclassified to profit or loss, before tax [Abstract]
Other comprehensive income, before tax, gains (losses) on
-10.25 7.38
remeasurements of defined benefit plans
Other comprehensive income that will not be reclassified to
-10.25 7.38
profit or loss, before tax
Components of other comprehensive income that will be
reclassified to profit or loss, before tax [Abstract]
Exchange differences on translation before tax [Abstract]
Gains (losses) on exchange differences on translation, before
-0.06 0.66
tax
Total other comprehensive income, before tax, exchange
-0.06 0.66
differences on translation
Total other comprehensive income that will be reclassified to
-0.06 0.66
profit or loss, before tax
Total other comprehensive income, before tax -10.31 8.04
Income tax relating to components of other comprehensive
income that will not be reclassified to profit or loss
[Abstract]
Income tax relating to investments in equity instruments of
-2.58 1.86
other comprehensive income
Aggregated income tax relating to components of other
comprehensive income that will not be reclassified to -2.58 1.86
profit or loss
Total other comprehensive income -7.73 6.18
Total comprehensive income 1,064 1,202.65
Earnings per share explanatory [TextBlock]
Earnings per share [Abstract]
Earnings per share [Line items]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from continuing operations [INR/shares] 17.11 [INR/shares] 19.11
Total basic earnings (loss) per share [INR/shares] 17.11 [INR/shares] 19.11
Diluted earnings per share [Abstract]

16
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Diluted earnings (loss) per share from continuing operations [INR/shares] 17.11 [INR/shares] 19.11
Total diluted earnings (loss) per share [INR/shares] 17.11 [INR/shares] 19.11

Footnotes
(A)
Particulars 2022-23

Other expenses 2321.89

Net impairment losses on financial and contract assets 15.91

(B)
Particulars 2021-22

Other expenses 1732.99

Net impairment losses on financial and contract assets 2.39

(C)
Particulars 2022-23

Loss due to fire 112.52

Insurance claim receivable -112.52

(D)
Particulars 2021-22

Loss due to fire 0

Insurance claim receivable 0

17
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[400200] Statement of changes in equity

Statement of changes in equity [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Equity
attributable to the
Components of equity [Axis] Equity [Member] equity holders of
the parent
[Member]
01/04/2021
01/04/2022 01/04/2022
to 31/03/2021 to
to
31/03/2023 31/03/2023
31/03/2022
Disclosure of notes on changes in equity [TextBlock] Textual information (2) [See below]
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 1,071.73 1,196.47 1,071.73
Changes in comprehensive income components -7.73 6.18 -7.73
Total comprehensive income 1,064 1,202.65 1,064
Other changes in equity [Abstract]
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Final dividend appropriation [Abstract]
Final equity dividend appropriation 469.88 407.1 469.88
Total final dividend appropriation 469.88 407.1 469.88
Total dividend appropriation 469.88 407.1 469.88
Total appropriations for dividend,
469.88 407.1 469.88
dividend tax and retained earnings
Increase (decrease) through other changes,
28.42 31.01 28.42
equity
Total other changes in equity -441.46 -376.09 -441.46
Total increase (decrease) in equity 622.54 826.56 622.54
Other equity at end of period 6,562.8 5,940.26 5,113.7 6,562.8

18
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Equity attributable to the equity
Components of equity [Axis] Reserves [Member]
holders of the parent [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 1,196.47 1,071.73 1,196.47
Changes in comprehensive income components 6.18 -7.67 5.52
Total comprehensive income 1,202.65 1,064.06 1,201.99
Other changes in equity [Abstract]
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Final dividend appropriation [Abstract]
Final equity dividend appropriation 407.1 469.88 407.1
Total final dividend appropriation 407.1 469.88 407.1
Total dividend appropriation 407.1 469.88 407.1
Total appropriations for dividend,
407.1 469.88 407.1
dividend tax and retained earnings
Increase (decrease) through other changes,
31.01 28.42 31.01
equity
Total other changes in equity -376.09 -441.46 -376.09
Total increase (decrease) in equity 826.56 622.6 825.9
Other equity at end of period 5,940.26 5,113.7 6,561.96 5,939.36

Statement of changes in equity [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Reserves
Components of equity [Axis] Capital reserves [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0
Total comprehensive income 0 0
Total increase (decrease) in equity 0 0
Other equity at end of period 5,113.46 7.63 7.63 7.63

Statement of changes in equity [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Share options
Components of equity [Axis] Securities premium reserve [Member] outstanding
account [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0 0
Total comprehensive income 0 0 0
Other changes in equity [Abstract]
Increase (decrease) through other changes,
26.65 (A) 31.12 (B) 1.77
equity
Total other changes in equity 26.65 31.12 1.77
Total increase (decrease) in equity 26.65 31.12 1.77
Other equity at end of period 148.15 121.5 90.38 2.3

19
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(A) Equity shares issued under employee stock purchase plan : 31.12
(B)
Particulars 2022-23

Equity shares issued under employee stock purchase plan 3.23

Options vested and exercised during the year -1.46

Statement of changes in equity [Table] ..(5)

Unless otherwise specified, all monetary values are in Crores of INR
Share options outstanding account
Components of equity [Axis] General reserve [Member]
[Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0 0
Total comprehensive income 0 0 0
Other changes in equity [Abstract]
Increase (decrease) through other changes,
(A) -0.11
equity
Total other changes in equity -0.11
Total increase (decrease) in equity -0.11 0 0
Other equity at end of period 0.53 0.64 722.72 722.72

(A) Options recognised during the year : 1.15 Options vested and exercised during the year : -1.26

Statement of changes in equity [Table] ..(6)

Unless otherwise specified, all monetary values are in Crores of INR
General reserve
Components of equity [Axis] Retained earnings [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 1,071.73 1,196.47
Changes in comprehensive income components -7.67 5.52
Total comprehensive income 1,064.06 1,201.99
Other changes in equity [Abstract]
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Final dividend appropriation [Abstract]
Final equity dividend appropriation 469.88 407.1
Total final dividend appropriation 469.88 407.1
Total dividend appropriation 469.88 407.1
Total appropriations for dividend,
469.88 407.1
dividend tax and retained earnings
Total other changes in equity -469.88 -407.1
Total increase (decrease) in equity 594.18 794.89
Other equity at end of period 722.72 5,681.16 5,086.98 4,292.09

20
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Statement of changes in equity [Table] ..(7)

Unless otherwise specified, all monetary values are in Crores of INR
Other equity
Components of equity [Axis] Other retained earning [Member] components
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 1,071.73 1,196.47 0
Changes in comprehensive income components -7.67 (A) 5.52 -0.06
Total comprehensive income 1,064.06 1,201.99 -0.06
Other changes in equity [Abstract]
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Final dividend appropriation [Abstract]
Final equity dividend appropriation 469.88 (B) 407.1
Total final dividend appropriation 469.88 407.1
Total dividend appropriation 469.88 407.1
Total appropriations for dividend,
469.88 407.1
dividend tax and retained earnings
Total other changes in equity -469.88 -407.1
Total increase (decrease) in equity 594.18 794.89 -0.06
Other equity at end of period 5,681.16 5,086.98 4,292.09 0.84

(A)
Re-measurement gains / (losses) on defined benefit plans net of tax
(B)
Final and interim Dividend paid during the year {refer note 13(B)(e)}

Statement of changes in equity [Table] ..(8)

Unless otherwise specified, all monetary values are in Crores of INR
Exchange differences on translating the
Components of equity [Axis] Other equity components [Member] financial statements of a foreign
operation [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0 0
Changes in comprehensive income components 0.66 -0.06 0.66
Total comprehensive income 0.66 -0.06 0.66
Total increase (decrease) in equity 0.66 -0.06 0.66
Other equity at end of period 0.9 0.24 0.84 0.9

Statement of changes in equity [Table] ..(9)

Unless otherwise specified, all monetary values are in Crores of INR
Exchange
differences on
translating the
Components of equity [Axis] financial
statements of a
foreign operation
[Member]
31/03/2021
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Other equity at end of period 0.24

21
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022
to
31/03/2023
Textual information (3)
Disclosure of notes on changes in equity [TextBlock] [See below]

22
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (2)

Disclosure of notes on changes in equity [Text Block]

A) Equity Share Capital

(Rs in crores)

Particulars Notes Numbers Amount

As at April 1, 2021 13(A) 62,60,13,006 62.6

Add: Exercise of employee stock purchase plan - proceeds received 2,90,061 0.03

As at March 31, 2022 62,63,03,067 62.63

Add: Exercise of employee stock purchase plan - proceeds received 2,06,671 0.02

As at March 31, 2023 62,65,09,738 62.65

B) Other Equity

Attributable to equity
Particulars shareholders of parent
company

Reserves and surplus

Notes Capital reserve Securities premium

As at April 1, 2021 7.63 90.38

Profit for the year 13(B)e)

- -

Other comprehensive income for the

year

Re-measurement gains / (losses) on

defined benefit plans net of tax - -

Exchange difference on translation of

financial statements of foreign
- -
operations

23
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Total comprehensive income for the

year - -

Transactions with owners in their

capacity as owners:

Final and interim dividend paid during

13(B)e)
the year - -

Equity shares issued under employee

13(B)b) 31.12
stock purchase plan -

Options recognised during the year 13(B)c)

- -

Options vested and exercised during the

13(B)c)
year - -

As at March 31, 2022 7.63 121.5

13(B)e)

Profit for the year

- -

Other comprehensive income for the

year

Re-measurement gains / (losses) on

defined benefit plans net of tax - -

Total Comprehensive income for the

year - -

Transaction with owners in their capacity

as owners:

Final and interim dividend paid during

13(B)e)
the year - -

Equity shares issued under employee

13(B)b) 26.65
stock purchase plan -

Options vested and exercised during the

13(B)c)
year - -

As at March 31, 2023 7.63 148.15

Table is continue..

(Rs in
crores)

24
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Items of OCI

Share options outstanding Retained Foreign currency translation

General reserve Total
account earnings reserve

722.72 0.64 4,292.09 0.24 5,113.70

- 1,196.47 1,196.47
-

- 5.52 5.52
-

- 0.66 0.66
- -

- 1,201.99 0.66 1,202.65

-

- -407.1 -407.1
-

- 31.12
- -

1.15 1.15
- -

-1.26 -1.26
- -

722.72 0.53 5,086.98 0.9 5,940.26

- 1,071.73 1,071.73
-

- -7.67 -0.06 -7.73

-

25
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

- - 1,064.06 -0.06 1,064.00

- -469.88 -469.88
-

3.23 29.88
- -

-1.46 -1.46
- -

722.72 2.3 5,681.16 0.84 6,562.80

As at As at

March 31, March 31,

2023 2022

Rs. in crores Rs. in crores

(B) OTHER EQUITY

Capital reserve 7.63 7.63

Securities premium 148.15 121.5

Share option outstanding account 2.3 0.53

General reserve 722.72 722.72

Retained earnings 5,681.16 5,086.98

Foreign currency translation reserves 0.84 0.9

Total other equity 6,562.80 5,940.26

a) Capital reserve 7.63 7.63

26
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

b) Securities premium

Opening balance 121.5 90.38

Add: Exercise of Employee stock purchase plan - proceeds received 26.65 31.12

Closing balance 148.15 121.5

c) Stock options outstanding account

Opening balance 0.53 0.64

Add : Options recognised during the year 3.23 1.15

Less : Options vested and exercised during the year -1.46 -1.26

Closing balance 2.3 0.53

d) General reserve 722.72 722.72

e) Retained earnings

Opening balance 5,086.98 4,292.09

Net profit for the year 1,071.73 1,196.47

Items of other comprehensive income recognised directly in retained earnings

Re-measurement gains / (losses) on defined benefit plans (net of tax) -7.67 5.52

Dividends

Final Dividend of Rs 4.50 per share for FY 2021-22 (Rs 3.50 per share for FY
-281.93 -219.21
2020-21)

Interim dividend of Rs 3 per share for FY 2022-23 (Rs 3.00 per share for FY
-187.95 -187.89
2021-22)

Closing balance 5,681.16 5,086.98

27
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

f) Foreign currency translation reserves

Opening balance 0.9 0.24

Exchange difference on translation of financial statements of foreign operations -0.06 0.66

0.84 0.9

(C)NATURE AND PURPOSE OF RESERVES

(a)Capital reserve

During amalgamation/ merger approved by honourable court, the excess of net assets taken over the consideration paid, if
any, is treated as capital reserve. This capital reserve has arisen as a result of scheme of amalgamation in the past periods.

(b)Securities premium

Securities premium is used to record the premium on issue of shares. The reserve can be utilised only for limited purposes
such as issuance of bonus shares in accordance with the provisions of the Companies Act, 2013.

(c)General reserve

Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net income at a
specified percentage in accordance with applicable regulations adjusted by utilisation of reserve in accordance with scheme
of Amalgamation in earlier years. The requirement to mandatorily transfer a specified percentage of the net profit to general
reserve before declaration of dividend has been withdrawn. However, the amount previously transferred to the general
reserve can be utilised only in accordance with the specific requirements of Companies Act, 2013.

(d)Share options outstanding account

The share option outstanding account is used to recognise the grant date fair value of options issued to employees under
Employee stock purchase plan.

Net of shares 41,960 (March 31, 2022: 41,960) held by employee welfare trust included in the financial statements

(e)Retained earnings

Retained Earnings are profits that the Group has earned till date less transfer to General Reserve ,dividend or other
distribution or transaction with shareholders.

(f)Foreign currency translation reserve

Exchange differences arising on translation of financial statements foreign operations are recognized in other comprehensive
income as described in accounting policy and accumulated in a separate reserve within equity. The cumulative amount is
reclassified to statement of profit and loss when net investment is disposed of / liquidated or classified as held for sale.

28
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (3)

Disclosure of notes on changes in equity [Text Block]

A) Equity Share Capital

(Rs in crores)

Particulars Notes Numbers Amount

As at April 1, 2021 13(A) 62,60,13,006 62.6

Add: Exercise of employee stock purchase plan - proceeds received 2,90,061 0.03

As at March 31, 2022 62,63,03,067 62.63

Add: Exercise of employee stock purchase plan - proceeds received 2,06,671 0.02

As at March 31, 2023 62,65,09,738 62.65

B) Other Equity

Attributable to equity
Particulars shareholders of parent
company

Reserves and surplus

Notes Capital reserve Securities premium

As at April 1, 2021 7.63 90.38

Profit for the year 13(B)e)

- -

Other comprehensive income for the

year

Re-measurement gains / (losses) on

defined benefit plans net of tax - -

Exchange difference on translation of

financial statements of foreign
- -
operations

29
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Total comprehensive income for the

year - -

Transactions with owners in their

capacity as owners:

Final and interim dividend paid during

13(B)e)
the year - -

Equity shares issued under employee

13(B)b) 31.12
stock purchase plan -

Options recognised during the year 13(B)c)

- -

Options vested and exercised during the

13(B)c)
year - -

As at March 31, 2022 7.63 121.5

13(B)e)

Profit for the year

- -

Other comprehensive income for the

year

Re-measurement gains / (losses) on

defined benefit plans net of tax - -

Total Comprehensive income for the

year - -

Transaction with owners in their capacity

as owners:

Final and interim dividend paid during

13(B)e)
the year - -

Equity shares issued under employee

13(B)b) 26.65
stock purchase plan -

Options vested and exercised during the

13(B)c)
year - -

As at March 31, 2023 7.63 148.15

Table is continue..

(Rs in
crores)

30
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Items of OCI

Share options outstanding Retained Foreign currency translation

General reserve Total
account earnings reserve

722.72 0.64 4,292.09 0.24 5,113.70

- 1,196.47 1,196.47
-

- 5.52 5.52
-

- 0.66 0.66
- -

- 1,201.99 0.66 1,202.65

-

- -407.1 -407.1
-

- 31.12
- -

1.15 1.15
- -

-1.26 -1.26
- -

722.72 0.53 5,086.98 0.9 5,940.26

- 1,071.73 1,071.73
-

- -7.67 -0.06 -7.73

-

31
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

- - 1,064.06 -0.06 1,064.00

- -469.88 -469.88
-

3.23 29.88
- -

-1.46 -1.46
- -

722.72 2.3 5,681.16 0.84 6,562.80

As at As at

March 31, March 31,

2023 2022

Rs. in crores Rs. in crores

(B) OTHER EQUITY

Capital reserve 7.63 7.63

Securities premium 148.15 121.5

Share option outstanding account 2.3 0.53

General reserve 722.72 722.72

Retained earnings 5,681.16 5,086.98

Foreign currency translation reserves 0.84 0.9

Total other equity 6,562.80 5,940.26

a) Capital reserve 7.63 7.63

32
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

b) Securities premium

Opening balance 121.5 90.38

Add: Exercise of Employee stock purchase plan - proceeds received 26.65 31.12

Closing balance 148.15 121.5

c) Stock options outstanding account

Opening balance 0.53 0.64

Add : Options recognised during the year 3.23 1.15

Less : Options vested and exercised during the year -1.46 -1.26

Closing balance 2.3 0.53

d) General reserve 722.72 722.72

e) Retained earnings

Opening balance 5,086.98 4,292.09

Net profit for the year 1,071.73 1,196.47

Items of other comprehensive income recognised directly in retained earnings

Re-measurement gains / (losses) on defined benefit plans (net of tax) -7.67 5.52

Dividends

Final Dividend of Rs 4.50 per share for FY 2021-22 (Rs 3.50 per share for FY
-281.93 -219.21
2020-21)

Interim dividend of Rs 3 per share for FY 2022-23 (Rs 3.00 per share for FY
-187.95 -187.89
2021-22)

Closing balance 5,681.16 5,086.98

33
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

f) Foreign currency translation reserves

Opening balance 0.9 0.24

Exchange difference on translation of financial statements of foreign operations -0.06 0.66

0.84 0.9

(C)NATURE AND PURPOSE OF RESERVES

(a)Capital reserve

During amalgamation/ merger approved by honourable court, the excess of net assets taken over the consideration paid, if
any, is treated as capital reserve. This capital reserve has arisen as a result of scheme of amalgamation in the past periods.

(b)Securities premium

Securities premium is used to record the premium on issue of shares. The reserve can be utilised only for limited purposes
such as issuance of bonus shares in accordance with the provisions of the Companies Act, 2013.

(c)General reserve

Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net income at a
specified percentage in accordance with applicable regulations adjusted by utilisation of reserve in accordance with scheme
of Amalgamation in earlier years. The requirement to mandatorily transfer a specified percentage of the net profit to general
reserve before declaration of dividend has been withdrawn. However, the amount previously transferred to the general
reserve can be utilised only in accordance with the specific requirements of Companies Act, 2013.

(d)Share options outstanding account

The share option outstanding account is used to recognise the grant date fair value of options issued to employees under
Employee stock purchase plan.

Net of shares 41,960 (March 31, 2022: 41,960) held by employee welfare trust included in the financial statements

(e)Retained earnings

Retained Earnings are profits that the Group has earned till date less transfer to General Reserve ,dividend or other
distribution or transaction with shareholders.

(f)Foreign currency translation reserve

Exchange differences arising on translation of financial statements foreign operations are recognized in other comprehensive
income as described in accounting policy and accumulated in a separate reserve within equity. The cumulative amount is
reclassified to statement of profit and loss when net investment is disposed of / liquidated or classified as held for sale.

34
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[320000] Cash flow statement, indirect

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before tax 1,447.06 1,606.56
Adjustments for reconcile profit (loss) [Abstract]
Adjustments for finance costs 33.44 53.24
Adjustments for decrease (increase) in inventories -740.5 -348.19

Adjustments for decrease (increase) in trade receivables, current (A) -222.13 (B) -202.91
Adjustments for decrease (increase) in other current assets -64.87 1.34
Adjustments for decrease (increase) in other non-current assets 4.47 0.18
Adjustments for other financial assets, current -86.35 14.91
Adjustments for increase (decrease) in trade payables, current 272.74 787.65
Adjustments for increase (decrease) in other current liabilities -52.52 107.47
Adjustments for depreciation and amortisation expense 296.17 260.89
Adjustments for provisions, current 78.22 20.43
Adjustments for other financial liabilities, current 74.73 -58.84
Adjustments for unrealised foreign exchange losses gains -6.25 -5.55

Adjustments for interest income (C) 123.24 (D) 104.45

Other adjustments to reconcile profit (loss) (E) 3.53 (F) -1.95
Total adjustments for reconcile profit (loss) -532.56 524.22
Net cash flows from (used in) operations 914.5 2,130.78
Income taxes paid (refund) 391.94 414.85

Other inflows (outflows) of cash (G) 42.37 (H) 12.09

Net cash flows from (used in) operating activities 564.93 1,728.02
Cash flows from used in investing activities [Abstract]
Proceeds from sales of property, plant and equipment 2.27 5.56
Purchase of property, plant and equipment 587.79 258.32

Interest received (I) 120.13 (J) 95.61

Other inflows (outflows) of cash (K) 500.43 (L) -601.41
Net cash flows from (used in) investing activities 35.04 -758.56
Cash flows from used in financing activities [Abstract]
Proceeds from issuing other equity instruments (M) 26.67 (N) 31.15
Proceeds from borrowings (O) 0
(P) 0.04
Repayments of borrowings (Q) 393.69 (R) 97.35
Payments of lease liabilities (S) 62.63 (T) 49.43
Dividends paid (U) 470.3 (V) 407.29
Interest paid (W) 6.98 (X) 24.46
Net cash flows from (used in) financing activities -906.93 -547.34
Net increase (decrease) in cash and cash equivalents before effect of
-306.96 422.12
exchange rate changes
Effect of exchange rate changes on cash and cash equivalents [Abstract]
Effect of exchange rate changes on cash and cash equivalents (Y) -3.73 (Z) -0.9
Net increase (decrease) in cash and cash equivalents -310.69 421.22
Cash and cash equivalents cash flow statement at end of period 465.15 775.84 354.62

35
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Footnotes
(A)
Particulars 2022-23

Credit impaired trade receivables written off 2.52

(Increase)/ Decrease in trade receivables -224.65

(B)
Particulars 2021-22

Credit impaired trade receivables written off 10.39

(Increase)/ Decrease in trade receivables -213.3

(C)
Particulars 2022-23

Interest income on bank deposits and investment 123.24

(D)
Particulars 2021-22

Interest income on bank deposits and investment 104.45

(E)
Particulars 2022-23

Loss /(gain) on disposal of property, plant and equipment (net) 0.14

Exchange difference on translation of financial statements foreign operatons -0.06

Net impairment losses on financial and contract assets 15.91

Lease rent concession -0.12

Liabilities no longer required written back -0.23

Discounting of long term warranty provision -12.11

(F)
Particulars 2021-22

Loss /(gain) on disposal of property, plant and equipment (net) 1.43

Exchange difference on translation of financial statements foreign operatons 0.66

Net impairment losses on financial and contract assets 2.39

Lease rent concession -0.49

Liabilities no longer required written back -0.15

Discounting of long term warranty provision -5.79

(G)
Particulars 2022-23

(Increase)/ Decrease in contract assets 13.14

Increase/ (Decrease) in contract liabilities 29.23

(H)
Particulars 2021-22

(Increase)/ Decrease in contract assets 4.52

Increase/ (Decrease) in contract liabilities 7.57

(I)

36
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Particulars 2022-23

Interest on fixed deposit and investment received 120.13

(J)
Particulars 2021-22

Interest on fixed deposit and investment received 95.61

(K)
Particulars 2022-23

Investment in fixed deposits with bank and financial institution 520.43

Payment for Investments -20

Receipt of grant related to assets 0

(L)
Particulars 2021-22

Investment in fixed deposits with bank and financial institution -605.13

Payment for Investments 0

Receipt of grant related to assets 3.72

(M)
Particulars 2022-23

Proceeds from exercise of employee stock purchase plan - share capital 0.02

Proceeds from exercise of employee stock purchase plan - securities premium received 26.65

(N)
Particulars 2021-22

Proceeds from exercise of employee stock purchase plan - share capital 0.03

Proceeds from exercise of employee stock purchase plan - securities premium received 31.12

(O)
Particulars 2022-23

Proceeds from long term borrowing 0

(P)
Particulars 2021-22

Proceeds from long term borrowing 0.04

(Q)
Particulars 2022-23

Repayment of long term borrowings 393.69

(R)
Particulars 2021-22

Repayment of long term borrowings 97.35

(S)
Particulars 2022-23

Payment of principal portion of lease liabilities 44.28

Payment of interest portion of lease liabilities 18.35

(T)

37
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Particulars 2021-22

Payment of principal portion of lease liabilities 34.54

Payment of interest portion of lease liabilities 14.89

(U)
Particulars 2022-23

Dividend paid to company's shareholder -470.3

(V)
Particulars 2021-22

Dividend paid to company's shareholder -407.29

(W)
Particulars 2022-23

Interest paid 6.98

(X)
Particulars 2021-22

Interest paid 24.46

(Y)
Particulars 2022-23

Effect of foreign exchange rate changes on cash and cash equivalents held in foreign currency -3.73

(Z)
Particulars 2021-22

Effect of foreign exchange rate changes on cash and cash equivalents held in foreign currency -0.9

[610100] Notes - List of accounting policies

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022
to
31/03/2023
Textual information (4)
Disclosure of significant accounting policies [TextBlock] [See below]

38
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (4)

Disclosure of significant accounting policies [Text Block]

1.CORPORATE INFORMATION

"Havells India Limited (‘the Group’) is a public limited Group domiciled in India and incorporated on August 08, 1983 under
the provisions of the Companies Act, 1956 having its registered office at 904, 9th Floor, Surya Kiran Building, K.G. Marg,
Connaught Place, New Delhi-110001. The Group is listed on BSE Limited and National Stock Exchange of India Limited. The
CIN of the Group is L31900DL1983PLC016304

The Group is consumer electrical/electronics and power distribution equipment manufacturer with products ranging from
Industrial and Domestic Circuit Protection Switchgears, Cables, Motors, Pumps, Solar Products, Fans, Power Capacitors,
LED Lamps and Luminaries for Domestic, Commercial and Industrial applications, Modular Switches, Water Heaters, Coolers
and Domestic Appliances, Personal Grooming , Air Purifier ,Water Purifier, Air conditioner, Television, Washing machine and
Refrigerator covering the entire range of household, commercial and industrial electrical needs.

The Group’s manufacturing facilities are located at Faridabad in Haryana, Alwar, Ghiloth and Neemrana in Rajasthan,
Haridwar in Uttarakhand, Sahibabad in Uttar Pradesh, Baddi in Himachal Pradesh, Sri City in Andhra Pradesh. The research
and development facilities are located at Noida (Uttar Pradesh), Bangalore and Ghiloth ( Rajasthan)"

These consolidated financial statements were approved for issue in accordance with a resolution of the directors on May 03,
2023.

The Group along with its subsidiaries has been collectively hereinafter referred to as "the Group". These consolidated
financial statements were approved for issue in accordance with a resolution of the directors on May 03, 2023.

2.Summary of significant accounting policies

This note provides a list of the significant accounting policies adopted in the preparation of these Indian Accounting
Standards (Ind-AS) CONSOLIDATED financial statements. These policies have been consistently applied to all the years
except where newly issued accounting standard is initially adopted.

These consolidated financial statement are separate financial statements including Havells Employees Welfare Trust
prepared in accordance with Ind AS-27 " Separate Financial Statements".

2.01Basis of preparation of Consolidated Financial Statements

"These Consolidated financial statements of the Group have been prepared in accordance with Indian Accounting Standards
(Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and
presentation requirements of Division II of Schedule III to the Companies Act, 2013, (Ind AS compliant Schedule III). These
consolidated financial statements are presented in INR and all values are rounded to the nearest crore (INR 0,000,000),
except when otherwise indicated.

The financial statements have been prepared on a historical cost convention, except for the following assets and liabilities:

i)Certain financial assets and liabilities that is measured at fair value

ii) Assets held for sale-measured at fair value less cost to sell

iii)Defined benefit plans-plan assets measured at fair value

iv) Share based payments"

39
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

2.02Current versus non-current classification

The Group presents assets and liabilities in the balance sheet based on current/non- current classification. An asset is
treated as current when it is:

- Expected to be realized or intended to be sold or consumed in normal operating cycle

- Held primarily for purpose of trading

- Expected to be realized within twelve months after the reporting period, or

- cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after
the reporting period

All other assets are classified as non-current.

A liability is current when:

- It is expected to be settled in normal operating cycle

- It is held primarily for purpose of trading

- It is due to be settled within twelve months after the reporting period, or

- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

All other liabilities are classified as non current.

Deferred tax assets and deferred tax liabilities are classified as non- current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash
equivalents. the Group has identified twelve months as its operating cycle.

2.03Basis of Consolidation

"The consolidated financial statements comprises the financial statement of the Havells India Limited ('the Parent company')
and subsidiaries (collectively ""the Group) as at March 31, 2022. Control is achieved when the Group is exposed, or has
rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power
over the investee. Specifically, the Group controls an investee if and only if the Group has:

(i)Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee)

(ii)Exposure, or rights, to variable returns from its involvement with the investee, and

(iii)The ability to use its power over the investee to affect its returns.

Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the
Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and
circumstances in assessing whether it has power over an investee, including:

(i)The contractual arrangement with the other vote holders of the investee

40
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(ii)Rights arising from other contractual arrangements

(iii)The Group’s voting rights and potential voting rights

(iv)The size of the Group’s holding of voting rights relative to the size and dispersion of the holdings of the other voting rights
holders."

"The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to
one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the
subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a
subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the
Group gains control until the date the Group ceases to control the subsidiary.

Consolidated financial statements are prepared using uniform accounting policies for like transactions and other events in
similar circumstances. If a member of the Group uses accounting policies other than those adopted in the consolidated
financial statements for like transactions and events in similar circumstances, appropriate adjustments are made to that
Group member’s financial statements in preparing the consolidated financial statements to ensure conformity with the
Group’s accounting policies."

The financial statements of all entities used for the purpose of consolidation are drawn up to same reporting date as that of
the parent company, i.e., year ended on March 31. When the end of the reporting period of the parent company is different
from that of a subsidiary, the subsidiary prepares, for consolidation purposes, additional financial information as of the same
date as the financial statements of the parent company to enable the parent company to consolidate the financial information
of the subsidiary, unless it is impracticable to do so or there are no significant transaction or event between the date of those
financial statement and date of financial statement of parent company.

2.04Consolidation Procedure :

(A)Subsidiaries:

a)Combine like items of assets, liabilities, equity, income, expenses and cash flows of the parent with those of its
subsidiaries. For this purpose, income and expenses of the subsidiary are based on the amounts of the assets and liabilities
recognised in the consolidated financial statements at the acquisition date.

b)Offset (eliminate) the carrying amount of the parent’s investment in each subsidiary and the parent’s portion of equity of
each subsidiary. Business combinations policy explains how to account for any related goodwill.

c)Eliminate in full intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between
entities of the group (profits or losses resulting from intragroup transactions that are recognised in assets, such as inventory
and fixed assets, are eliminated in full). Intragroup losses may indicate an impairment that requires recognition in the
consolidated financial statements. Ind AS - 12 "Income Taxes" applies to temporary differences that arise from the
elimination of profits and losses resulting from intragroup transactions.

Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of
the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.
When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line
with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to
transactions between members of the Group are eliminated in full on consolidation.

"A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the
Group loses control over a subsidiary, it:

(i)Derecognises the assets (including goodwill) and liabilities of the subsidiary

(ii)Derecognises the carrying amount of any non-controlling interests

(iii)Derecognises the cumulative translation differences recorded in equity

41
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(iv)Recognises the fair value of the consideration received

(v)Recognises the fair value of any investment retained

(vi)Recognises any surplus or deficit in profit or loss

(vii)Reclassifies the parent’s share of components previously recognised in OCI to profit or loss or retained earnings, as
appropriate, as would be required if the Group had directly disposed of the related assets or liabilities."

(B)Investment in associates and joint ventures

An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the
financial and operating policy decisions of the investee, but is not control or joint control over those policies.

A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the
net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only
when decisions about the relevant activities require unanimous consent of the parties sharing control. The considerations
made in determining whether significant influence or joint control are similar to those necessary to determine control over the
subsidiaries.

The Group’s investments in its associate and joint venture are accounted for using the equity method. Under the equity
method, the investment in an associate or a joint venture is initially recognised at cost. The carrying amount of the investment
is adjusted to recognise changes in the Group’s share of net assets of the associate or joint venture since the acquisition
date. Goodwill relating to the associate or joint venture is included in the carrying amount of the investment and is not tested
for impairment individually.

The statement of profit and loss reflects the Group’s share of the results of operations of the associate or joint venture. Any
change in OCI of those investees is presented as part of the Group’s OCI. In addition, when there has been a change
recognised directly in the equity of the associate or joint venture, the Group recognises its share of any changes, when
applicable, in the statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group
and the associate or joint venture are eliminated to the extent of the interest in the associate or joint venture.

If Group’s share of losses of an associate or a joint venture equals or exceeds its interest in the associate or joint venture
(which includes any long term interest that, in substance, form part of the Group’s net investment in the associate or joint
venture), the Group discontinues recognising its share of further losses. Additional losses are recognised only to the extent
that the Group has incurred legal or constructive obligations or made payments on behalf of the associate or joint venture. If
the associate or joint venture subsequently reports profits, the Group resumes recognising its share of those profits only after
its share of the profits equals the share of losses not recognised.

The aggregate of the Group’s share of profit or loss of an associate and a joint venture is shown on the face of the statement
of profit and loss.

The financial statements of the associate or joint venture are prepared for the same reporting period as the Group. When
necessary, adjustments are made to bring the accounting policies in line with those of the Group.

After application of the equity method, the Group determines whether it is necessary to recognise an impairment loss on its
investment in its associate or joint venture. At each reporting date, the Group determines whether there is objective evidence
that the investment in the associate or joint venture is impaired. If there is such evidence, the Group calculates the amount of
impairment as the difference between the recoverable amount of the associate or joint venture and its carrying value, and
then recognises the loss as ‘Share of profit of an associate and a joint venture’ in the statement of profit or loss.

Upon loss of significant influence over the associate or joint control over the joint venture, the Group measures and
recognises any retained investment at its fair value. Any difference between the carrying amount of the associate or joint
venture upon loss of significant influence or joint control and the fair value of the retained investment less cost to sell is
recognised in profit or loss.

The Group discontinue the use of equity method from the date the investment is classified as held for sale in accordance with
Ind AS 105 - Non-current Assets Held for Sale and Discontinued Operations and measures the interest in associate and joint

42
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

venture held for sale at the lower of its carrying amount and fair value less cost to sell.

(C)Business combination and goodwill

Business combinations other than those under common control transactions are accounted for using the acquisition method.
The cost of an acquisition is measured as the aggregate of the consideration transferred measured at acquisition date fair
value and the amount of any non-controlling interests in the acquiree. For each business combination, the Group elects
whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree’s
identifiable net assets. In respect to the business combination for acquisition of subsidiary, the Group has opted to measure
the non-controlling interests in the acquiree at the proportionate share of the acquiree’s identifiable net assets.
Acquisition-related costs are expensed as incurred.

At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognised at their acquisition date fair
values. For this purpose, the liabilities assumed include contingent liabilities representing present obligation and they are
measured at their acquisition fair values irrespective of the fact that outflow of resources embodying economic benefits is not
probable. However, the following assets and liabilities acquired in a business combination are measured at the basis
indicated as mentioned hereinafter

(i)Deferred tax assets or liabilities, and the assets or liabilities related to employee benefit arrangements are recognised and
measured in accordance with Ind AS 12 ""Income Tax"" and Ind AS 19 ""Employee Benefits"" respectively.

(ii)Potential tax effects of temporary differences and carry forwards of an acquiree that exist at the acquisition date or arise as
a result of the acquisition are accounted in accordance with Ind AS 12.

(iii)Liabilities or equity instruments related to share based payment arrangements of the acquiree or share – based payments
arrangements of the Group entered into to replace share-based payment arrangements of the acquiree are measured in
accordance with Ind AS 102 ""Share-based Payments"" at the acquisition date.

(iv)Assets (or disposal groups) that are classified as held for sale in accordance with Ind AS 105 ""Non-current Assets Held
for Sale"" and Discontinued Operations are measured in accordance with that standard.

(v)Reacquired rights are measured at a value determined on the basis of the remaining contractual term of the related
contract. Such valuation does not consider potential renewal of the reacquired right."

"When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification
and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the
acquisition date. This includes the separation of embedded derivatives in host contracts by the acquiree.

If the business combination is achieved in stages, any previously held equity interest is re-measured at its acquisition date
fair value and any resulting gain or loss is recognised in profit or loss or OCI, as appropriate. "

(D)Change in ownership interest

The Group treats transaction with non-controlling interests that do not result in a loss of control as transaction with the equity
owners of the Group. A change in ownership interest results in adjustment between the carrying amounts of the controlling
and non-controlling interest to reflect their relative interest in the subsidiary. Any difference between the amount of the
adjustment to non-controlling interests and any consideration paid or received is recognised within equity.

2.05Property, plant and equipment

Freehold Land is carried at historical cost. All other items of Property, Plant and equipment are stated at cost, less
accumulated depreciation and accumulated impairment losses, if any. Capital work in progress is stated at cost, net of
accumulated impairment loss, if any. The historical cost comprises of purchase price, taxes, duties, freight and other
incidental expenses directly attributable and related to acquisition and installation of the concerned assets and are further
adjusted by the amount of input tax credit availed wherever applicable.

Such cost includes the cost of replacing part of the plant and equipment and borrowing costs for long-term construction
projects if the recognition criteria are met. When significant parts of plant and equipment are required to be replaced at

43
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

intervals, the Group depreciates them separately based on their specific useful lives. Likewise, when a major inspection is
performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition

44
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

criteria are satisfied. All other repair and maintenance costs are recognised in profit or loss as incurred. The present value of
the expected cost for the decommissioning of an asset after its use is included in the cost of the respective asset if the
recognition criteria for a provision are met.

Subsequent costs are included in asset's carrying amount or recognised as separate assets, as appropriate, only when it is
probable that future economic benefit associated with the item will flow to the Group and the cost of item can be measured
reliably.

An item of property, plant and equipment and any significant part initially recognised is derecognized upon disposal or when
no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset
(calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the
income statement when the asset is derecognised.

Capital work- in- progress includes cost of property, plant and equipment under installation / under development as at the
balance sheet date.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial
year end and adjusted prospectively, if appropriate.

Depreciation on property, plant and equipment is calculated on prorata basis on straight-line method using the useful lives of
the assets estimated by management. The useful life is as follows:

Assets Useful life (in years)

Building 30 and 60

Plant and Equipment 15

Moulds and Dies 6

Furniture and Fixtures 10

Vehicles 8 and 10

R &D Equipment 5 and15

Office Equipment 3 and 5

Mobile Phones 3

Electric Fans and Installations 10

Computers 3

Laptops 4

The useful lives of all the assets except moulds and dies, mobile phones and laptops have been determined as those
specified by part 'C' of Schedule II to the Companies Act, 2013. In respect of moulds and dies and mobile phones, useful
lives are lower than those specified by schedule II to the Companies Act 2013 and are depreciated over the estimated useful

45
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

lives of 6 years, 3 years respectively, in respect of laptop useful life is more than those specified by schedule II to the Group
Act 2013 and are depreciated over the estimated useful life of 4 years, in order to reflect the actual usage of assets. The
residual values are not more than 5% of the original cost of the assets. The asset's residual values and useful lives are
reviewed, and adjusted if appropriate.

Lease hold improvements are depreciated on straight line basis over shorter of the asset's useful life and their lease term
unless the entity expects to use the asset beyond the lease term.

Leasehold land is amortized on a straight line basis over the unexpired period of their respective lease ranging from 90-99
years.

2.06.Intangible assets

Separately acquired intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Cost of intangible assets acquired in
business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at
cost less accumulated amortization and accumulated impairment losses, if any. Internally generated intangibles, excluding
capitalized development cost, are not capitalized and the related expenditure is reflected in statement of Profit and Loss in
the period in which the expenditure is incurred. Cost comprises the purchase price and any attributable cost of bringing the
asset to its working condition for its intended use.

The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortized
over their useful lives and assessed for impairment whenever there is an indication that the intangible asset may be impaired.
The amortization period and the amortization method for an intangible asset with a finite useful life is reviewed at least at the
end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic
benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and are
treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in
the statement of profit and loss .

Intangible assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at
the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life
continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. The
Group has assessed indefinite life for such brand considering the expected usage, expected investment on brand, business
forecast and challenges to establish a premium electronic segment. These are carried at historical cost and tested for
impairment annually.

An intangible asset is derecognised upon disposal or when no future economic benefits are expected from its use or
disposal. Gains or losses arising from disposal of the intangible assets are measured as the difference between the net
disposal proceeds and the carrying amount of the asset and are recognized in the statement of profit and loss when the

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

assets are disposed off.

Intangible assets with finite useful life are amortized on a straight line basis over their estimated useful life as under

Assets Useful life (in years)

Computer Software 6

R&D Software 6

Distributor/ Dealer Network 8

Non-Compete Fee 7

Brand and Trademarks Indefinite

Research and development cost

Research costs are expensed as incurred. Development expenditure incurred on an individual project is recognized as an
intangible asset when the Group can demonstrate all the following:

i)The technical feasibility of completing the intangible asset so that it will be available for use or sale;

ii)Its intention to complete the asset;

iii)Its ability to use or sale the asset;

iv)How the asset will generate future economic benefits;

v)The availability of adequate resources to complete the development and to use or sale the asset; and

vi)The ability to measure reliably the expenditure attributable to the intangible asset during development.

Following the initial recognition of the development expenditure as an asset, the cost model is applied requiring the asset to
be carried at cost less any accumulated amortization and accumulated impairment losses. Amortization of the asset begins
when development is complete and the asset is available for use. It is amortized on straight line basis over the estimated
useful life and is recognised in the statement of profit and loss . During the period of development, the asset is tested for
impairment annually.

Trademarks

Brand and Trademarks acquired in business combination are initially recognised at fair value at the date of acquisition.
Following initial recognition, brand and trademark are carried at the above recognised value less accumulated amortization
and accumulated impairment losses, if any. These Brand and trademarks have been in existence for considerable period and

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Group intends to continue use this intangible assets. Consequently it is believed that they have an indefinite life and are not
amortised. Instead impairment testing is performed annually and whenever a triggering event has occurred to determine
whether the carrying value exceeds the recoverable amount.

Distributor/ Dealer Network

Distributor/ Dealer Network acquired in business combination are initially recognised at fair value at the date of acquisition.
Following initial recognition, Distributor/ Dealer Network are carried at the above recognised value less accumulated
amortization and accumulated impairment losses, if any. They are amortised on a straight line basis over their estimated
useful life of 8 years assessed by the management.

Goodwill

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred over the fair value of
net identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is in excess of the
aggregate consideration transferred, the Group re-assesses whether it has correctly identified all of the assets acquired and
all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognised at the acquisition
date. If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration
transferred, then the gain is recognised in other comprehensive income and accumulated in equity as capital reserve.
However, if there is no clear evidence of bargain purchase, the entity recognizes the gain directly in equity as capital reserve,
without routing the same through other comprehensive income.

After initial recognition, goodwill is measured at cost less any accumulated impairment losses, if any. For the purpose of
impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group's
cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of
the acquire are assigned to those units.

A cash generating unit to which goodwill has been allocated is tested for impairment annually or earlier, when there is an
indication that the unit may be impaired. If the recoverable amount of the cash generating unit is less than its carrying
amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to
the other assets of the unit pro rata based on the carrying amount of each asset in the unit. Any impairment loss for goodwill
is recognised in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods.

Where goodwill has been allocated to a cash-generating unit and part of the operation within that unit is disposed of, the
goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the
gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed
operation and the portion of the cash-generating unit retained.

2.07.Impairment of non- financial assets

The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication
exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. An
asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s (CGU) fair value less costs of disposal and
its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash
inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or
CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair
value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an
appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for
publicly traded companies or other available fair value indicators.

The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for
each of the Group's CGUs to which the individual assets are allocated. These budgets and forecast calculations generally
cover a period of five years. For longer periods, a long-term growth rate is calculated and applied to project future cash flows
after the fifth year. To estimate cash flow projections beyond periods covered by the most recent budgets/forecasts, the
Group extrapolates cash flow projections in the budget using a steady or declining growth rate for subsequent years, unless
an increasing rate can be justified. In any case, this growth rate does not exceed the long-term average growth rate for the
products, industries, or country or countries in which the Group operates, or for the market in which the asset is used.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Impairment losses of continuing operations, including impairment on inventories, are recognised in the statement of profit and
loss, except for properties previously revalued with the revaluation surplus taken to OCI. For such properties, the impairment
is recognised in OCI up to the amount of any previous revaluation surplus.

For assets excluding goodwill and intangible assets having indefinite life, an assessment is made at each reporting date to
determine whether there is an indication that previously recognised impairment losses no longer exist or have decreased. If
such indication exists, the Group estimates the asset’s or CGU’s recoverable amount. A previously recognised impairment
loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since
the last impairment loss was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its
recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no
impairment loss been recognised for the asset in prior years. Such reversal is recognised in the statement of profit and loss
unless the asset is carried at a revalued amount, in which case, the reversal is treated as a revaluation increase.

"Goodwill is tested for impairment annually and when circumstances indicate that the carrying value may be impaired.
Impairment is determined for goodwill by assessing the recoverable amount of each CGU (or group of CGUs) to which the
goodwill relates. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is
recognised. Impairment losses relating to goodwill cannot be reversed in future periods.

Intangible assets with indefinite useful lives are tested for impairment annually as at March 31 at the CGU level, as
appropriate, and when circumstances indicate that the carrying value may be impaired."

2.08.Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.

(i)Financial Assets

The Group classifies its financial assets in the following measurement categories:

-Those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss)

-Those measured at amortized cost

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow
characteristics and the Group's business model for managing them

Initial recognition measurement

"With the exception of trade receivables that do not contain a significant financing component or for which the Group has
applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial
asset not at fair value through profit or loss, transaction costs.

Trade receivables that do not contain a significant financing component or for which the Group has applied the practical
expedient are measured at the transaction price determined under Ind AS 115. Refer to the accounting policies in section
'Revenue from contracts with customers'."

In order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needs to give rise to
cash flows that are ‘solely payments of principal and interest (SPPI)’ on the principal amount outstanding. This assessment is
referred to as the SPPI test and is performed at an instrument level. Financial assets with cash flows that are not SPPI are
classified and measured at fair value through profit or loss, irrespective of the business model.

"The Group's business model for managing financial assets refers to how it manages its financial assets in order to generate
cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the
financial assets, or both.

Financial assets classified and measured at amortised cost are held within a business model with the objective to hold

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

financial assets in order to collect contractual cash flows while financial assets classified and measured at fair value through
OCI are held within a business model with the objective of both holding to collect contractual cash flows and selling."

Subsequent measurement

For purposes of subsequent measurement financial assets are classified in following categories:

-Financial assets at amortised cost (debt instruments)

-Financial assets at fair value through other comprehensive income (FVTOCI) with recycling of cumulative gains and losses
(debt instruments)

-Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition
(equity instruments)

-Financial assets at fair value through profit or loss

Financial assets at amortised cost (debt instruments)

A ‘financial asset’ is measured at the amortised cost if both the following conditions are met:

a)Business Model Test : The objective is to hold the financial asset to collect the contractual cash flows (rather than to sell
the instrument prior to its contractual maturity to realize its fair value changes) and;

b)Cash flow characteristics test: The contractual terms of the financial asset give rise on specific dates to cash flows that are
solely payments of principal and interest on principal amount outstanding.

This category is most relevant to the Group. After initial measurement, such financial assets are subsequently measured at
amortized cost using the effective interest rate (EIR) method. Amortised cost is calculated by taking into account any discount
or premium on acquisition and fees or costs that are an integral part of EIR. EIR is the rate that exactly discounts the
estimated future cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
gross carrying amount of the financial asset. When calculating the effective interest rate, the Group estimates the expected
cash flows by considering all the contractual terms of the financial instrument but does not consider the expected credit
losses. The EIR amortization is included in other income in profit or loss. The losses arising from impairment are recognized
in the profit or loss. This category generally applies to trade and other receivables.

Financial assets at fair value through OCI (FVTOCI) (debt instruments)

A ‘financial asset’ is classified as at the FVTOCI if both of the following criteria are met:

a)Business Model Test : The objective of financial instrument is achieved by both collecting contractual cash flows and
selling the financial assets; and

b)Cash flow characteristics test: The contractual terms of the Debt instrument give rise on specific dates to cash flows that
are solely payments of principal and interest on principal amount outstanding.

Debt instrument included within the FVTOCI category are measured initially as well as at each reporting date at fair value.
Fair value movements are recognized in the other comprehensive income (OCI), except for the recognition of interest
income, impairment gains or losses and foreign exchange gains or losses which are recognized in statement of profit and
loss and computed in the same manner as for financial assets measured at amortised cost. The remaining fair value changes
are recognised in OCI. Upon derecognition, the cumulative fair value changes recognised in OCI is reclassified from the
equity to profit or loss.

Financial assets at fair value through profit or loss

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value
recognised in the statement of profit and loss. This category includes derivative instruments and listed equity investments
which the Group had not irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are
recognised in the statement of profit and loss when the right of payment has been established.

Financial assets designated at fair value through OCI (equity instruments)

Upon initial recognition, the Group can elect to classify irrevocably its equity investments as equity instruments designated at
fair value through OCI when they meet the definition of equity under Ind AS 32 Financial Instruments: Presentation and are
not held for trading. The classification is determined on an instrument-by-instrument basis. Equity instruments which are held
for trading and contingent consideration recognised by an acquirer in a business combination to which Ind AS103 applies are
classified as at FVTPL.

Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognised as other income in
the statement of profit and loss when the right of payment has been established, except when the Group benefits from such
proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity
instruments designated at fair value through OCI are not subject to impairment assessment.

Embedded Derivatives

A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated from the host and
accounted for as a separate derivative if: the economic characteristics and risks are not closely related to the host; a
separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and the hybrid
contract is not measured at fair value through profit or loss. Embedded derivatives are measured at fair value with changes in
fair value recognised in profit or loss. Reassessment only occurs if there is either a change in the terms of the contract that
significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the fair
value through profit or loss category.

Derecognition

A financial asset (or ,where applicable, a part of a financial asset or part of a Group of similar financial assets) is primarily
derecognised (i.e. removed from the Group's statement of financial position) when:

-The rights to receive cash flows from the asset have expired, or

-the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received
cash flows in full without material delay to a third party under a "pass through" arrangement and either;

(a) the Group has transferred substantially all the risks and rewards of the asset, or

(b)the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred
control of the asset.

When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through
arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither
transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group
continues to recognise the transferred asset to the extent of the Group’s continuing involvement. In that case, the Group also
recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the
rights and obligations that the Group has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original
carrying amount of the asset and the maximum amount of consideration that the group could be required to repay.

Impairment of financial assets

In accordance with IND AS 109, the Group applies expected credit losses( ECL) model for measurement and recognition of
impairment loss on the following financial asset and credit risk exposure

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

-Financial assets measured at amortized cost;

-Financial assets measured at fair value through other comprehensive income(FVTOCI);

ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash
flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected
cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the
contractual terms.

ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk
since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next
12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since
initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective
of the timing of the default (a lifetime ECL).

The Group follows "simplified approach" for recognition of impairment loss allowance on:

-Trade receivables or contract revenue receivables; Trade receivables which are held to collect and sale basis accounted for
as FVTPL

-All lease receivables resulting from the transactions within the scope of Ind AS 116 -Leases

Under the simplified approach, the Group does not track changes in credit risk. Rather , it recognizes impairment loss
allowance based on lifetime ECLs at each reporting date, right from its initial recognition. The Group uses a provision matrix
to determine impairment loss allowance on the portfolio of trade receivables. The provision matrix is based on its historically
observed default rates over the expected life of trade receivable and is adjusted for forward looking estimates. At every
reporting date, the historical observed default rates are updated and changes in the forward looking estimates are analysed.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the statement
of profit and loss. This amount is reflected under the head ‘other expenses’ in the statement of profit and loss. The balance
sheet presentation for various financial instruments is described below:

(a) Financial assets measured as at amortised cost: ECL is presented as an allowance, i.e., as an integral part of the
measurement of those assets in the balance sheet. The allowance reduces the net carrying amount. Until the asset meets
write-off criteria, the group does not reduce impairment allowance from the gross carrying amount.

(b) Loan commitments and financial guarantee contracts: ECL is presented as a provision in the balance sheet, i.e. as a
liability.

(c) Debt instruments measured at FVTOCI: For debt instruments measured at FVTOCI, the expected credit losses do not
reduce the carrying amount in the balance sheet, which remains at fair value. Instead, an amount equal to the allowance that
would arise if the asset was measured at amortised cost is recognised in other comprehensive income as the accumulated
impairment amount.

(ii)Financial liabilities:

Initial recognition and measurement

Financial liabilities are classified at initial recognition as financial liabilities at fair value through profit or loss, loans and
borrowings, and payables, net of directly attributable transaction costs. All financial liabilities are recognised initially at fair
value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Group
financial liabilities include loans and borrowings, trade payables, trade deposits, retention money, liabilities towards services,
sales incentive and other payables.

Subsequent measurement

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

For purposes of subsequent measurement, financial liabilities are classified in two categories:

(i) Financial liabilities at fair value through profit or loss

(ii) Financial liabilities at amortised cost (loans and borrowings)

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Group that are not designated as hedging instruments in hedge relationship as defined by Ind
AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Group may transfer the cumulative gain or loss within equity. All other changes in fair value of
such liability are recognized in the statement of profit or loss. the Group has not designated any financial liability as at fair
value through profit and loss.

Financial liabilities at amortised cost (Loans and borrowings)

After initial recognition, interest-bearing borrowings are subsequently measured at amortized cost using the Effective interest
rate method. Gains and losses are recognized in profit or loss when the liabilities are derecognised as well as through the
Effective interest rate amortization process. Amortized cost is calculated by taking into account any discount or premium on
acquisition and fees or costs that are an integral part of the Effective interest rate. The Effective interest rate amortization is
included as finance costs in the statement of profit and loss.

Trade Payables

These amounts represents liabilities for goods and services provided to the Group prior to the end of financial year which are
unpaid. The amounts are unsecured and are usually paid per the term of contract with suppliers. Trade and other payables
are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are
recognized initially at fair value and subsequently measured at amortized cost using Effective interest rate method.

Financial guarantee contracts

Financial guarantee contracts issued by the Group are those contracts that require a payment to be made to reimburse the
holder for a loss it incurs because the specified debtor fails to make a payment when due in accordance with the terms of a
debt instrument. Financial guarantee contracts are recognized initially as a liability at fair value, adjusted for transaction costs
that are directly attributable to the issuance of the guarantee. Subsequently, the liability is measured at the higher of the
amount of loss allowance determined as per impairment requirements of IND AS 109 and the amount recognized less
cumulative amortization.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an
existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an
existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original
liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement
of profit and loss.

Offsetting of financial instruments

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Financials assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently
enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets
and settle the liabilities simultaneously.

Reclassification of financial assets/ financial liabilities

The Group determines classification of financial assets and liabilities on initial recognition. After initial recognition, no
reclassification is made for financial assets which are equity instruments and financial liabilities. For financial assets which
are debt instruments, a reclassification is made only if there is a change in the business model for managing those assets.
Changes to the business model are expected to be infrequent. The Group’s senior management determines change in the
business model as a result of external or internal changes which are significant to the Group’s operations. Such changes are
evident to external parties. A change in the business model occurs when the Group either begins or ceases to perform an
activity that is significant to its operations. If the Group reclassifies financial assets, it applies the reclassification prospectively
from the reclassification date which is the first day of the immediately next reporting period following the change in business
model. The Group does not restate any previously recognised gains, losses (including impairment gains or losses) or
interest.

2.09.Derivative financial instruments and hedge accounting

Initial recognition and subsequent measurement

"Derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into
and are subsequently re-measured at fair value. Derivatives are carried as financial assets when the fair value is positive and
as financial liabilities when the fair value is negative.

The purchase contracts that meet the definition of a derivative under Ind AS 109 are recognised in the statement of profit and
loss. Commodity contracts that are entered into and continue to be held for the purpose of the receipt or delivery of a
non-financial item in accordance with the Group’s expected purchase, sale or usage requirements are held at cost.

Any gains or losses arising from changes in the fair value of derivatives are taken directly to profit or loss, except for the
effective portion of cash flow hedges, which is recognised in OCI and later reclassified to profit or loss when the hedge item
affects profit or loss or treated as basis adjustment if a hedged forecast transaction subsequently results in the recognition of
a non-financial asset or non-financial liability.

For the purpose of hedge accounting, hedges are classified as:

(i)Fair value hedges when hedging the exposure to changes in the fair value of a recognised asset or liability or an
unrecognised firm commitment

(ii)Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk
associated with a recognised asset or liability or a highly probable forecast transaction or the foreign currency risk in an
unrecognised firm commitment

(iii)Hedges of a net investment in a foreign operation"

Hedges that meet the strict criteria for hedge accounting are accounted for, as described below:

(i) Fair value hedges

"The change in the fair value of a hedging instrument is recognised in the statement of profit and loss as finance costs. The
change in the fair value of the hedged item attributable to the risk hedged is recorded as part of the carrying value of the
hedged item and is also recognised in the statement of profit and loss as finance costs.

For fair value hedges relating to items carried at amortised cost, any adjustment to carrying value is amortised through profit
or loss over the remaining term of the hedge using the EIR method. EIR amortization may begin as soon as an adjustment
exists and no later than when the hedged item ceases to be adjusted for changes in its fair value attributable to the risk being
hedged.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

If the hedged item is derecognised, the unamortised fair value is recognised immediately in profit or loss. When an
unrecognised firm commitment is designated as a hedged item, the subsequent cumulative change in the fair value of the
firm commitment attributable to the hedged risk is recognised as an asset or liability with a corresponding gain or loss
recognised in profit and loss."

(ii) Cash flow hedges

"The effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow hedge reserve, while
any ineffective portion is recognised immediately in the statement of profit and loss.

The ineffective portion relating to foreign currency contracts is recognised in finance costs and the ineffective portion relating
to commodity contracts is recognised in other income or expenses.

Amounts recognised as OCI are transferred to profit or loss when the hedged transaction affects profit or loss, such as when
the hedged financial income or financial expense is recognised or when a forecast sale occurs. When the hedged item is the
cost of a non-financial asset or non-financial liability, the amounts recognised as OCI are transferred to the initial carrying
amount of the non-financial asset or liability.

If the hedging instrument expires or is sold, terminated or exercised without replacement or rollover (as part of the hedging
strategy), or if its designation as a hedge is revoked, or when the hedge no longer meets the criteria for hedge accounting,
any cumulative gain or loss previously recognised in OCI remains separately in equity until the forecast transaction occurs or
the foreign currency firm commitment is met."

2.10.Inventories

a)Basis of valuation:

i)Inventories other than scrap materials are valued at lower of cost and net realizable value after providing cost of
obsolescence, if any. However, materials and other items held for use in the production of inventories are not written down
below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. The
comparison of cost and net realizable value is made on an item-by-item basis.

ii)Inventory of scrap materials have been valued at net realizable value.

b)Method of Valuation:

i)Cost of raw materials has been determined by using moving weighted average cost method and comprises all costs of
purchase, duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in
bringing the inventories to their present location and condition.

ii)Cost of finished goods and work-in-progress includes direct labour and an appropriate share of fixed and variable
production overheads. Fixed production overheads are allocated on the basis of normal capacity of production facilities. Cost
is determined on moving weighted average basis.

iii)Cost of traded goods has been determined by using moving weighted average cost method and comprises all costs of
purchase, duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in
bringing the inventories to their present location and condition.

iv)Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion
and estimated costs necessary to make the sale.

2.11.Non-current assets held for sale

The Group classifies non-current assets as held for sale if their carrying amounts will be recovered principally through a sale

55
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

rather than through continuing use and the sale is considered highly probable. Such non-current assets classified as held for
sale are measured at the lower of their carrying amount and fair value less costs to sell . Any expected loss is recognized
immediately in the statement of profit and loss.

The criteria for held for sale classification is regarded as met only when the assets is available for immediate sale in its
present condition, subject only to terms that are usual and customary for sales of such assets, its sale is highly probable; and
it will genuinely be sold. The Group treats sale of the asset to be highly probable when:

i)The appropriate level of management is committed to a plan to sell the asset

ii)An active programme to locate a buyer and complete the plan has been initiated (if applicable)

iii)The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value,

iv)The sale is expected to qualify for recognition as a completed sale within one year from the date of classification , and

v)Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the
plan will be withdrawn.

The criteria for held for sale classification is regarded as met only when the sale is highly probable and the asset is available
for immediate sale in its present condition and the assets must have actively marketed for sale at a price that is reasonable in
relation to its current fair value. Actions required to complete the sale should indicate that it is unlikely that significant changes
to the plan to sale these assets will be made. Management must be committed to the sale, which should be expected to
qualify for recognition as a completed sale within one year from the date of classification.

Property, plant and equipment and intangible assets once classified as held for sale are not depreciated or amortized. Assets
and liabilities classified as held for sale are presented separately as current items in the balance sheet.

2.12.Income Tax

The income tax expense or credit for the period is the tax payable on the current period's taxable income based on the
applicable income tax rate adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and
to unused tax losses. Income Tax expense for the year comprises of current tax and deferred tax.

a)Current income tax

Current income tax, assets and liabilities are measured at the amount expected to be paid to or recovered from the taxation
authorities in accordance with the Income Tax Act, 1961 and the Income Computation and Disclosure Standards (ICDS)
enacted in India by using tax rates and the tax laws that are enacted at the reporting date.

"The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the
reporting period in the countries where the Group operate and generate taxable income. Management periodically evaluates
positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and
considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The group measures its tax
balances either based on the most likely amount or the expected value, depending on which method provides a better
prediction of the resolution of the uncertainty.

Current income tax relating to item recognized outside the statement of profit and loss is recognized outside profit or loss
(either in other comprehensive income or equity).Current tax items are recognized in correlation to the underlying
transactions either in OCI or directly in equity.

b)Deferred Tax

Deferred tax is provided in full using the balance sheet method on temporary differences arising between the tax bases of
assets and liabilities and their carrying amounts in the financial statements. However, deferred tax liabilities are not
recognised if they arise from the initial recognition of goodwill.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

"Deferred tax liabilities are recognised for all taxable temporary differences, except:

i)When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not
a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss

ii)In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint
ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary
differences will not reverse in the foreseeable future"

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any
unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available
against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can
be utilised, except:

i)When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or
liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting
profit nor taxable profit or loss.

ii)In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint
ventures, deferred tax assets are recognised only to the extent that it is probable that the temporary differences will reverse
in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer
probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized
deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that
future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is
realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the
reporting date.

Deferred tax relating to items recognized outside the statement of profit and loss is recognized outside the statement of profit
and loss (either in other comprehensive income or in equity). Deferred tax items are recognized in correlation to the
underlying transaction either in OCI or direct in equity.

Tax benefits acquired as part of a business combination, but not satisfying the criteria for separate recognition at that date,
are recognised subsequently if new information about facts and circumstances change. Acquired deferred tax benefits
recognised within the measurement period reduce goodwill related to that acquisition if they result from new information
obtained about facts and circumstances existing at the acquisition date. If the carrying amount of goodwill is zero, any
remaining deferred tax benefits are recognised in OCI/ capital reserve depending on the principle explained for bargain
purchase gains. All other acquired tax benefits realized are recognised in profit or loss.

2.13."Revenue from contract with customers

The Group manufactures/ trades and sells a range of consumer electrical and electronic products. Revenue from contracts
with customers involving sale of these products is recognized at a point in time when control of the product has been
transferred, and there are no unfulfilled obligation that could affect the customer's acceptance of the products which usually
happen on delivery of goods. The Group also provides installation, annual maintenance and warranty services that are either
sold separately or bundled together with the sale of goods. The Group recognizes these service revenue from sales of
services over a period of time, because the customer simultaneously receives and consumes the benefits provided by the
Group. The Group has objective evidence that all criterion for acceptance has been satisfied. A receivable is recognised
when the control of the product is transferred as the consideration is unconditional and payment becomes due upon passage
of time as per the terms of contract with customers.

(a) Sale of goods

"Revenue from sale of goods is recognised at the point in time when control of the goods is transferred to the customer,
generally on delivery of the goods and there are no unfulfilled obligations.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

The Group considers, whether there are other promises in the contract in which their are separate performance obligations,
to which a portion of the transaction price needs to be allocated. In determining the transaction price for the sale of goods,
the Group allocates a portion of the transaction price to different performance obligations goods bases on its relative
consolidated prices and also considers the following:-

(i) Variable consideration

"The Group recognizes revenue from the sale of goods measured at the consolidated selling price of the consideration
received or receivable, net of returns and allowances, trade discounts and volume rebates. If the consideration in a contract
includes a variable amount, the Group estimates the amount of consideration to which it will be entitled in exchange for
transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is
highly probable that a significant revenue reversal in the amount of cumulative revenue recognised will not occur when the
associated uncertainty with the variable consideration is subsequently resolved. The Group operates several sales incentive
programmes wherein the customers are eligible for several benefits on achievement of underlying conditions as prescribed in
the scheme programme such as credit notes, reimbursement, investments etc. Revenue from contract with customer is
presented after deducting cost of all these schemes.

(ii)Warranty obligations

The Group generally provides for warranties for general repair of defects. These warranties are assurance-type warranties
under Ind AS 115, which are accounted for under Ind AS 37 (Provisions, Contingent Liabilities and Contingent Assets).
However, in certain non-standard contracts in respect of sale of consumer durable goods, the Group provides extended
warranties and such warranties are termed as service-type warranties and therefore, accounted for as separate performance
obligations to which the Group allocates a portion of the transaction price. Revenue from service-type warranties is
recognised over the period in which the service is provided based on the time elapsed

(iii)Significant Financing Components

"In respect of short-term advances from its customers, using the practical expedient in Ind AS 115, the Group does not adjust
the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception,
that the period between the transfer of the promised good or service to the customer and when the customer pays for that
good or service will be within normal operating cycle.

In respect of long term contracts, the transaction price for these contracts is discounted, using the interest rate implicit in the
contract (i.e., the interest rate that discounts the cash selling price of the equipment to the amount paid in advance).

No significant element of financing is deemed present as the sales are made with a credit term of 21 to 90 days, which is
consistent with market practice."

(b)Sale of services

The Group provides installation, annual maintenance and extended warranty services that are sold separately. The Group
recognizes revenue from sales of services over time, because the customer simultaneously receives and consumes the
benefits provided by the Group. Revenue from services related activities is recognised as and when services are rendered
and on the basis of contractual terms with the parties.

(c)Contract balances

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. Contract assets
are in the nature of unbilled receivables, which arises when Group satisfies a performance obligation but does not have an
unconditional rights to consideration. A receivables represents the Group's right to an amount of consideration that is
unconditional. Contract assets are subject to impairment assessment. Refer to accounting policies on impairment of financial
assets in section (Financial instruments – initial recognition and subsequent measurement).

A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration
(or an amount of consideration is due) from the customer. If a customer pays consideration before the Group transfers goods
or services to the customer, a contract liability is recognised when the payment is made or the payment is due (whichever is
earlier). Contract liabilities are recognised as revenue when the Group performs under the contract (i.e., transfers control of
the related goods or services to the customer).

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

A trade receivable is recognised if an amount of consideration that is unconditional (i.e., only the passage of time is required
before payment of the consideration is due). Refer to accounting policies of financial assets in section (Financial instruments
– initial recognition and subsequent measurement).

(d)Income from Service Concession Arrangement

Revenue related to Street Lights Upgrade services provided under service concession arrangement is recognized as per the
agreement with the grantor. The Group recognizes a financial asset arising from the service concession agreement when it
has an unconditional contractual right to receive cash or another financial asset from or at the direction of the grantor of the
concession for the upgrade services provided. Such financial assets are measured at fair value upon initial recognition.

2.14.Other Income

(a)Interest Income

For all debt instruments measured either at amortised cost or at fair value through other comprehensive income, interest
income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash
payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the gross
carrying amount of the financial asset or to the amortised cost of a financial liability. When calculating the effective interest
rate, the Group estimates the expected cash flows by considering all the contractual terms of the financial instrument (for
example, prepayment, extension, call and similar options) but does not consider the expected credit losses. Interest income
is included in other income in the statement of profit and loss.

2.15.Other Operating Revenues

(a) Export benefit

Revenue from export benefits arising from Duty entitlement pass book (DEPB scheme), duty drawback scheme,
merchandise export incentive scheme, Remission of duties and taxes on exported product scheme are recognised on export
of goods in accordance with their respective underlying scheme at fair value of consideration received or receivable.

(b )Government Grants

Government Grants are recognized at their fair value when there is reasonable assurance that the grant will be received and
all the attached conditions will be complied with.

When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related
costs, for which it is intended to compensate, are expensed. Government grant related to the non-monetary asset are
recognised at nominal value and presented by deducting the same from carrying amount of related asset and the grant is
then recognised in profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.

2.16Retirement and other employee benefits

(i)Short-term obligations

Liabilities for wages and salaries, including non monetary benefits that are expected to be settled wholly within twelve months
after the end of the period in which the employees render the related service are recognized in respect of employee service
upto the end of the reporting period and are measured at the amount expected to be paid when the liabilities are settled. The
liabilities are presented as current employee benefit obligations in the balance sheet.

(ii)Post employment

a)Gratuity

The Employee's Gratuity Fund Scheme, which is defined benefit plan, is managed by Trust with its investments maintained

59
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

with Bajaj Allianz Life Insurance Co.Ltd. The liabilities with respect to Gratuity Plan are determined by actuarial valuation on
projected unit credit method on the balance sheet date, based upon which the Group contributes to the Gratuity Scheme. The
difference, if any, between the actuarial valuation of the gratuity of employees at the year end and the balance of funds is

60
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

provided for as assets/ (liability) in the books. Net interest is calculated by applying the discount rate to the net defined benefit
liability or asset. The Group recognizes the following changes in the net defined benefit obligation under Employee benefit
expense in statement of profit or loss:

a)Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine
settlements

b)Net interest expense or income

Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net
interest on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the net
defined benefit liability), are recognized immediately in the Balance Sheet with a corresponding debit or credit to retained
earnings through other comprehensive income in the period in which they occur. Remeasurements are not reclassified to
profit or loss in subsequent periods.

b)Provident fund

Retirement benefit in the form of provident fund is a defined contribution scheme. the Group has no obligation, other than the
contribution payable to the provident fund. The Group recognizes contribution payable through provident fund scheme as an
expense, when an employee renders the related services. If the contribution payable to scheme for service received before
the balance sheet date exceeds the contribution already paid, the deficit payable to the scheme is recognized as liability after
deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services received
before the balance sheet date, then excesses recognized as an asset to the extent that the prepayment will lead to, for
example, a reduction in future payment or a cash refund.

(iii)Other employee benefits

"Employees (including senior executives) of the Group receive remuneration in the form of share based payment
transactions, whereby employees render services as consideration for equity instruments . In accordance with the Securities
and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and the Ind-AS 102 Share based
payments, the fair value of options granted under the Havells Long Term cumulative expense recognized for equity-settled
transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the
Group’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit recognized in the
Statement of Profit and Loss for a period represents the movement in cumulative expense recognized as at the beginning
and end of that period and is recognized in employee benefits expense.

Where the terms of an equity-settled transaction award are modified, the minimum expense recognized is the expense as if
the terms had not been modified, if the original terms of the award are met. An additional expense is recognized for any
modification that increases the total intrinsic value of the share-based payment transaction, or is otherwise beneficial to the
employee as measured at the date of modification. The Employee stock option scheme is administered through Havells
Employee Welfare Trust."

The Group provides long term incentive plan to employees via equity settled share based payments as enumerated below:

(a)Havells Employee Stock Purchase Plan: The fair value of options granted under this option plan is recognised as an
employee benefit expense with corresponding increase in equity in accordance with recognition and measurement principles
as prescribed in Ind AS 102 Share Based Payments when grant is made. The total expense is recognised over the vesting
period, which is the period over which all of the specified vesting conditions are to be satisfied. At end of the reporting period,
the entity revises its estimates of the number of options that are expected to vest based on the non-market vesting and
service conditions. It recognizes the impact of the revision to original estimates, if any, in profit or loss, with corresponding
adjustment to equity.

(b)Havells Employees Long term Incentive plan: These are in nature of employee benefit wherein employees (including
senior executives) of the Group purchase shares of the Group at fair value on the grant cum allotment date and receives
remuneration in the form of ex-gratia equivalent to predefined percentage of purchase price paid by designated employee
subject to serving of relevant period of service after the grant cum allotment date. These are recognised at fair value of
shares granted and allotted as employee benefit expense over the period of employee serving relevant period.

2.17.Leases

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right
to control the use of an identified asset for a period of time in exchange for consideration.

Group as a lessee

The Group’s lease asset classes primarily comprise of lease for land and building. The Group applies a single recognition
and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group
recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying
assets.

i)Right-of-use assets (ROU)

The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease
incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the
estimated useful lives of the building (i.e. 30 and 60 years)

If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a
purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also
subject to impairment. Refer to the accounting policies in section 'Impairment of non-financial assets'.

The Group classifies ROU assets as part of Property plant and equipment in Balance Sheet and lease liability in " Financial
Liability".

ii)Lease Liabilities

"At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease
payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed
payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts
expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase
option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term
reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are
recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that
triggers the payment occurs.

In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease
commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement
date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made.
In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a
change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to
determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.

"Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the
lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.

Variable lease payments that depend on sales are recognised in profit or loss in the period in which the condition that triggers
those payments occurs."

(iii)"Short-term leases and leases of low-value assets

The Group applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that have a lease
term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of
low-value assets recognition exemption to leases that are considered to be low value. Lease payments on short-term leases
and leases of low-value assets are recognised as expense on a straight-line basis over the lease term."

2.18.Segment reporting :

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Operating segments are reported in a manner consistent with the internal reporting provided to the decision making authority.
The Board of directors monitors the operating results of all product segments separately for the purpose of making decisions
about resource allocation and performance assessment.

The operating segments have been identified on the basis of the nature of products/services. Further:

1.Segment revenue includes sales and other income directly identifiable with / allocable to the segment including inter -
segment revenue.

2.Expenses that are directly identifiable with / allocable to segments are considered for determining the segment result.
Expenses which relate to the Group as a whole and not allocable to segments are included under unallocable expenditure.

3.Income which relates to the Group as a whole and not allocable to segments is included in unallocable income.

4.Segment assets and liabilities include those directly identifiable with the respective segments. Unallocable assets and
liabilities represent the assets and liabilities that relate to the Group as a whole and not allocable to any segment.

2.19.Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by
the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares
outstanding during the period is adjusted for events such as bonus issue, bonus element in a rights issue, share split, and
reverse share split (consolidation of shares) if any that have changed the number of equity shares outstanding, without a
corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period are adjusted for the effect of all
potentially dilutive equity shares.

2.20.Borrowing Costs

Borrowing cost includes interest and other costs incurred in connection with the borrowing of funds and charged to Statement
of Profit & Loss on the basis of effective interest rate (EIR) method. Borrowing cost also includes exchange differences to the
extent regarded as an adjustment to the borrowing cost.

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective asset.
All other borrowing costs are recognized as expense in the period in which they occur.

2.21.Cash and cash equivalents

"Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits with an
original maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant
risk of changes in value.

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposit
held at call with financial institutions, other short - term, highly liquid investments with original maturities of three months or
less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value,
and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet."

2.22.Foreign currency translation

(i)Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic environment in which

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

the entity operates ('the functional currency'). The Group’s financial statements are presented in Indian rupee (INR) which is
also the Group’s functional and presentation currency.

(ii)Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rate prevailing at the date of the
transaction. Foreign exchange gains and losses resulting from the settlement of such transaction and from the translation of
monetary assets and liabilities denominated in foreign currencies at year end exchange rate are generally recognised in the
statement of profit and loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange
rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated
using the exchange rates at the date when the fair value is determined.

(iii)Exchange differences

Exchange differences arising on settlement or translation of monetary items are recognized as income or expense in the
period in which they arise with the exception of exchange differences on gain or loss arising on translation of non-monetary
items measured at fair value which is treated in line with the recognition of the gain or loss on the change in fair value of the
item (i.e., translation differences on items whose fair value gain or loss is recognized in OCI or profit or loss are also
recognized in OCI or profit or loss, respectively).

Group Companies

On consolidation, the results and financial position of foreign operations that have a functional currency different from the
presentation currency (INR) are translated to the presentation currency (INR) in the following manner:

a)Assets and liabilities are translated at the rate of exchange prevailing at the reporting date

b)Their statements of profit and loss are translated at exchange rates prevailing at the dates of the transactions. For practical
reasons, the group uses an average rate to translate income and expense items, if the average rate approximates the
exchange rates at the dates of the transactions

c)All resulting exchange differences arising on translation of financial statement of foreign operations for consolidation are
recognised in other comprehensive income.

d)On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is recognised in profit
or loss.

e)Any Goodwill arising on the acquisition/business combination of a foreign operation and any fair value adjustments to the
carrying amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign operation
and translated at the spot rate of exchange at the reporting date.

f)Gain or loss on a subsequent disposal of any foreign operation excludes translation differences that arose before the date
of transition but includes only translation differences arising after the transition date.

2.23.Provisions and Contingent Liabilities

Provisions

"A provision is recognized when the Group has a present obligation (legal or constructive) as a result of past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. These estimates are reviewed at each reporting date and adjusted to
reflect the current best estimates. If the effect of the time value of money is material, provisions are discounted using a
current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in
the provision due to the passage of time is recognized as a finance cost.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

"Insurance claims are accounted for on the basis of claims admitted / expected to be admitted and to the extent that the
amount recoverable can be measured reliably and realisation in respect thereof is virtually certain.

Warranty Provisions

Provision for warranty-related costs are recognized when the product is sold or service is provided to customer. Initial
recognition is based on historical experience. the Group periodically reviews the adequacy of product warranties and adjust
warranty percentage and warranty provisions for actual experience, if necessary. The timing of outflow is expected to be with
in one to seven years.

Provision for E-Waste/Plastic-Waste

Provision for E-Waste/Plastic-Waste management costs are recognized when the liability in respect of products sold to
customer is established in accordance with E-waste Management Rules, 2016 as notified by Government of India. Initial
recognition is based on liability computed based on Extended Producer Responsibility as promulgated in said Rules including
cost to comply the said regulation and as reduced by expected realisation of collectable waste. The Group has assessed the
liability to arise on year to year basis.

Contingent liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence
or non-occurrence of one or more uncertain future events beyond the control of the Group or a present obligation that is not
recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent
liability also arises in extremely rare cases, where there is a liability that cannot be recognized because it cannot be
measured reliably. the Group does not recognize a contingent liability but discloses its existence in the financial statements
unless the probability of outflow of resources is remote.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

2.24Dividend Distributions

The Group recognizes a liability to make the payment of dividend to owners of equity, when the distribution is authorised and
the distribution is no longer at the discretion of the Group. As per the corporate laws in India, a distribution is authorised when
it is approved by the shareholders. A corresponding amount is recognised directly in equity.

2.25Fair value measurement

The Group measures financial instruments at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an ordinary transaction between
market participants at the measurement date. The fair value measurement is based on the presumption that the transaction
to sell the asset or transfer the liability takes place either:

(i) In the principal market for asset or liability, or

(ii) In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Group.

The fair value of an asset or liability is measured using the assumptions that market participants would use when pricing the
asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non- financial asset takes into account a market participant's ability to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in
its highest and best use.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximising the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the
fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as
a whole:

Level 1- Quoted(unadjusted) market prices in active markets for identical assets or liabilities

Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable

Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Group determines whether
transfers have occurred between levels in the hierarchy by re-assessing categorization ( based on the lowest level input that
is significant to fair value measurement as a whole ) at the end of each reporting period.

For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the
nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

2.26Business Combinations

(i)Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the
aggregate of the consideration transferred measured at acquisition date fair value and the amount of any non-controlling
interests in the acquire. For each business combination, the Group elects whether to measure the non-controlling interests in
the acquire at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are
expensed as incurred.

At the acquisition date, the identifiable assets acquired, and the liabilities assumed are recognised at their acquisition date
fair values. For this purpose, the liabilities assumed include contingent liabilities representing present obligation and they are
measured at their acquisition fair values irrespective of the fact that outflow of resources embodying economic benefits is not
probable.

(ii)Business Combinations involving entities or businesses in which all the combining entities or businesses are ultimately
controlled by the same party or parties both before and after the business combination, and where that control is not
transitory is accounted using the pooling of interests method as enumerated below:

a)The assets and liabilities of the combining entities are reflected at their carrying amounts.

b)No adjustments are made to reflect fair values, or recognise any new assets or liabilities. The only adjustments that are
made are to harmonise accounting policies.

c)The financial information in the financial statements in respect of prior periods should be restated as if the business
combination had occurred from the beginning of the preceding period in the financial statements, irrespective of the actual
date of the combination. However, if business combination had occurred after that date, the prior period information shall be
restated only from that date.

d)The balance of the retained earnings appearing in the financial statements of the transferor is aggregated with
corresponding balance appearing in the financial statements of the transferee or is adjusted against revenue reserve.

e)The identity of the reserves shall be preserved and shall appear in the financial statements of the transferee in the same
form in which they appeared in the financial statements of the transferor.

f)The difference, if any, between the amounts recorded as share capital issued plus any additional consideration in the form
of cash or other assets and the amount of share capital of the transferor is transferred to revenue reserves/ capital reserves.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

2.27Significant accounting judgments, estimates and assumptions

The preparation of these consolidated financial statements requires the management to make judgments, use estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the acGrouping disclosures,
and the disclosure of contingent liabilities. Uncertainty about these judgements, assumptions and estimates could result in
outcomes that require a material adjustment to the carrying amount of the asset or liability affected in future periods.

a)Leases

"The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an
option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the
lease, if it is reasonably certain not to be exercised.

The Group has several lease contracts that include extension and termination options. The Group applies judgement in
evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is, it
considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. After the
commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that is
within its control and affects its ability to exercise or not to exercise the option to renew or to terminate (e.g., construction of
significant leasehold improvements or significant customisation to the leased asset).

"b)Taxes

Uncertainties exist with respect to the interpretation of tax regulations, changes in tax laws, and the amount and timing of
future taxable income. Given the wide range of business relationships differences arising between the actual results and the
assumptions made, or future changes to such assumptions, could necessitate future adjustments to tax income and expense
already recorded. The Group establishes provisions, based on reasonable estimates. The amount of such provisions is
based on various factors, such as experience of previous tax assessments and differing interpretations of tax regulations by
the taxable entity and the responsible tax authority. (Refer Note 16)

c)Gratuity benefit

The cost of defined benefit plans (i.e. Gratuity benefit) is determined using actuarial valuations. An actuarial valuation
involves making various assumptions which may differ from actual developments in the future. These include the
determination of the discount rate, future salary increases, mortality rates and future pension increases. Due to the
complexity of the valuation, the underlying assumptions and its long-term nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date. In determining the
appropriate discount rate, management considers the interest rates of long term government bonds with extrapolated
maturity corresponding to the expected duration of the defined benefit obligation. The mortality rate is based on publicly
available mortality tables for India. Future salary increases and pension increases are based on expected future inflation
rates for India. Further details about the assumptions used, including a sensitivity analysis, are given in Note 31(3).

d)Impairment of non-financial assets

The Group assesses at each reporting date whether there is an indication that an asset including intangible assets having
indefinite useful life and goodwill may be impaired. If any indication exists, or when annual impairment testing for an asset is
required, the Group estimates the asset's recoverable amount. An assets recoverable amount is the higher of an asset's
CGU'S fair value less cost of disposal and its value in use. Where the carrying amount of an asset or CGU exceeds its
recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use , the estimated future cash flows are estimated based on past rend and discounted to their present
value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific
to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such
transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation
multiples, or other fair value indicators.

e)Provision for warranty

Warranty provisions is determined based on the historical percentage of warranty expense to sales for the same types of
goods for which the warranty is currently being determined. The same percentage to the sales is applied for the current

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

accounting period to derive the warranty expense to be accrued. It is adjusted to account for unusual factors related to the
goods that were sold, such as defective inventory lying at the depots. The warranty claims may not exactly match the
historical warranty percentage, so such estimates are reviewed annually for any material changes in assumptions and
likelihood of occurrence. The assumptions are consistent with prior years. (Refer Note 18)

f)Provision for expected credit losses (ECL) of trade receivables and contract assets

"The Group uses a provision matrix to calculate ECLs for trade receivables and contract assets. The provision rates are
based on days past due for groupings of various customer segments that have similar loss patterns (i.e., by geography,
product type, customer type and rating, and coverage by letters of credit and other forms of credit insurance). The provision
matrix is initially based on the Group's historical observed default rates. The Group will calibrate the matrix to adjust the
historical credit loss experience with forward-looking information. At every reporting date, the historical observed default rates
are updated and changes in the forward-looking estimates are analysed.

The assessment of the correlation between historical observed default rates, forecast economic conditions and ECLs is a
significant estimate. The amount of ECLs is sensitive to changes in circumstances and of forecast economic conditions. The
Group's historical credit loss experience and forecast of economic conditions may also not be representative of customer’s
actual default in the future. The information about the ECLs on the Group’s trade receivables and contract assets is disclosed
in Note 31(9)"

g)Property, Plant and Equipment and intangible assets

Property, Plant and Equipment represent significant portion of the asset base of the Group. The charge in respect of periodic
depreciation is derived after determining an estimate of assets expected useful life and expected value at the end of its useful
life. The useful life and residual value of Group's assets are determined by Management at the time asset is acquired and
reviewed periodically including at the end of each year. The useful life is based on historical experience with similar assets, in
anticipation of future events, which may have impact on their life such as change in technology.

2.28Exceptional Item

Exceptional Items Group recognises exceptional item when items of income and expenses within Statement of Profit and
Loss from ordinary activities are of such size, nature or incidence that their disclosure is relevant to explain the performance
of the enterprise for the period.

[610200] Notes - Corporate information and statement of IndAs compliance

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of corporate information notes and other explanatory information
[TextBlock]
Textual information (5) Textual information (6)
Statement of Ind AS compliance [TextBlock] [See below] [See below]
Whether there is any departure from Ind AS No No
Whether there are reclassifications to comparative amounts No No
Textual information (7)
Disclosure of significant accounting policies [TextBlock] [See below]

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (5)

Statement of Ind AS compliance [Text Block]

2.01.Basis of preparation of Consolidated Financial Statements

These Consolidated financial statements of the Group have been prepared in accordance with Indian Accounting Standards
(Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and
presentation requirements of Division II of Schedule III to the Companies Act, 2013, (Ind AS compliant Schedule III). These
consolidated financial statements are presented in INR and all values are rounded to the nearest crore (INR 0,000,000),
except when otherwise indicated.

"The financial statements have been prepared on a historical cost convention, except for the following assets and liabilities:

i)Certain financial assets and liabilities that is measured at fair value

ii)Assets held for sale-measured at fair value less cost to sell

iii)Defined benefit plans-plan assets measured at fair value

iv)Share based payments

Textual information (6)

Statement of Ind AS compliance [Text Block]

2.01.Basis of preparation of Consolidated Financial Statements

These Consolidated financial statements of the Group have been prepared in accordance with Indian Accounting Standards
(Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and
presentation requirements of Division II of Schedule III to the Companies Act, 2013, (Ind AS compliant Schedule III). These
consolidated financial statements are presented in INR and all values are rounded to the nearest crore (INR 0,000,000),
except when otherwise indicated.

"The financial statements have been prepared on a historical cost convention, except for the following assets and liabilities:

i)Certain financial assets and liabilities that is measured at fair value

ii)Assets held for sale-measured at fair value less cost to sell

iii)Defined benefit plans-plan assets measured at fair value

iv)Share based payments

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (7)

Disclosure of significant accounting policies [Text Block]

1.CORPORATE INFORMATION

"Havells India Limited (‘the Group’) is a public limited Group domiciled in India and incorporated on August 08, 1983 under
the provisions of the Companies Act, 1956 having its registered office at 904, 9th Floor, Surya Kiran Building, K.G. Marg,
Connaught Place, New Delhi-110001. The Group is listed on BSE Limited and National Stock Exchange of India Limited. The
CIN of the Group is L31900DL1983PLC016304

The Group is consumer electrical/electronics and power distribution equipment manufacturer with products ranging from
Industrial and Domestic Circuit Protection Switchgears, Cables, Motors, Pumps, Solar Products, Fans, Power Capacitors,
LED Lamps and Luminaries for Domestic, Commercial and Industrial applications, Modular Switches, Water Heaters, Coolers
and Domestic Appliances, Personal Grooming , Air Purifier ,Water Purifier, Air conditioner, Television, Washing machine and
Refrigerator covering the entire range of household, commercial and industrial electrical needs.

The Group’s manufacturing facilities are located at Faridabad in Haryana, Alwar, Ghiloth and Neemrana in Rajasthan,
Haridwar in Uttarakhand, Sahibabad in Uttar Pradesh, Baddi in Himachal Pradesh, Sri City in Andhra Pradesh. The research
and development facilities are located at Noida (Uttar Pradesh), Bangalore and Ghiloth ( Rajasthan)"

These consolidated financial statements were approved for issue in accordance with a resolution of the directors on May 03,
2023.

The Group along with its subsidiaries has been collectively hereinafter referred to as "the Group". These consolidated
financial statements were approved for issue in accordance with a resolution of the directors on May 03, 2023.

2.Summary of significant accounting policies

This note provides a list of the significant accounting policies adopted in the preparation of these Indian Accounting
Standards (Ind-AS) CONSOLIDATED financial statements. These policies have been consistently applied to all the years
except where newly issued accounting standard is initially adopted.

These consolidated financial statement are separate financial statements including Havells Employees Welfare Trust
prepared in accordance with Ind AS-27 " Separate Financial Statements".

2.01Basis of preparation of Consolidated Financial Statements

"These Consolidated financial statements of the Group have been prepared in accordance with Indian Accounting Standards
(Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and
presentation requirements of Division II of Schedule III to the Companies Act, 2013, (Ind AS compliant Schedule III). These
consolidated financial statements are presented in INR and all values are rounded to the nearest crore (INR 0,000,000),
except when otherwise indicated.

The financial statements have been prepared on a historical cost convention, except for the following assets and liabilities:

i)Certain financial assets and liabilities that is measured at fair value

ii) Assets held for sale-measured at fair value less cost to sell

iii)Defined benefit plans-plan assets measured at fair value

iv) Share based payments"

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

2.02Current versus non-current classification

The Group presents assets and liabilities in the balance sheet based on current/non- current classification. An asset is
treated as current when it is:

- Expected to be realized or intended to be sold or consumed in normal operating cycle

- Held primarily for purpose of trading

- Expected to be realized within twelve months after the reporting period, or

- cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after
the reporting period

All other assets are classified as non-current.

A liability is current when:

- It is expected to be settled in normal operating cycle

- It is held primarily for purpose of trading

- It is due to be settled within twelve months after the reporting period, or

- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

All other liabilities are classified as non current.

Deferred tax assets and deferred tax liabilities are classified as non- current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realization in cash and cash
equivalents. the Group has identified twelve months as its operating cycle.

2.03Basis of Consolidation

"The consolidated financial statements comprises the financial statement of the Havells India Limited ('the Parent company')
and subsidiaries (collectively ""the Group) as at March 31, 2022. Control is achieved when the Group is exposed, or has
rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power
over the investee. Specifically, the Group controls an investee if and only if the Group has:

(i)Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee)

(ii)Exposure, or rights, to variable returns from its involvement with the investee, and

(iii)The ability to use its power over the investee to affect its returns.

Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the
Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and
circumstances in assessing whether it has power over an investee, including:

(i)The contractual arrangement with the other vote holders of the investee

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(ii)Rights arising from other contractual arrangements

(iii)The Group’s voting rights and potential voting rights

(iv)The size of the Group’s holding of voting rights relative to the size and dispersion of the holdings of the other voting rights
holders."

"The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to
one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the
subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a
subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the
Group gains control until the date the Group ceases to control the subsidiary.

Consolidated financial statements are prepared using uniform accounting policies for like transactions and other events in
similar circumstances. If a member of the Group uses accounting policies other than those adopted in the consolidated
financial statements for like transactions and events in similar circumstances, appropriate adjustments are made to that
Group member’s financial statements in preparing the consolidated financial statements to ensure conformity with the
Group’s accounting policies."

The financial statements of all entities used for the purpose of consolidation are drawn up to same reporting date as that of
the parent company, i.e., year ended on March 31. When the end of the reporting period of the parent company is different
from that of a subsidiary, the subsidiary prepares, for consolidation purposes, additional financial information as of the same
date as the financial statements of the parent company to enable the parent company to consolidate the financial information
of the subsidiary, unless it is impracticable to do so or there are no significant transaction or event between the date of those
financial statement and date of financial statement of parent company.

2.04Consolidation Procedure :

(A)Subsidiaries:

a)Combine like items of assets, liabilities, equity, income, expenses and cash flows of the parent with those of its
subsidiaries. For this purpose, income and expenses of the subsidiary are based on the amounts of the assets and liabilities
recognised in the consolidated financial statements at the acquisition date.

b)Offset (eliminate) the carrying amount of the parent’s investment in each subsidiary and the parent’s portion of equity of
each subsidiary. Business combinations policy explains how to account for any related goodwill.

c)Eliminate in full intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between
entities of the group (profits or losses resulting from intragroup transactions that are recognised in assets, such as inventory
and fixed assets, are eliminated in full). Intragroup losses may indicate an impairment that requires recognition in the
consolidated financial statements. Ind AS - 12 "Income Taxes" applies to temporary differences that arise from the
elimination of profits and losses resulting from intragroup transactions.

Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of
the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.
When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line
with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to
transactions between members of the Group are eliminated in full on consolidation.

"A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the
Group loses control over a subsidiary, it:

(i)Derecognises the assets (including goodwill) and liabilities of the subsidiary

(ii)Derecognises the carrying amount of any non-controlling interests

(iii)Derecognises the cumulative translation differences recorded in equity

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(iv)Recognises the fair value of the consideration received

(v)Recognises the fair value of any investment retained

(vi)Recognises any surplus or deficit in profit or loss

(vii)Reclassifies the parent’s share of components previously recognised in OCI to profit or loss or retained earnings, as
appropriate, as would be required if the Group had directly disposed of the related assets or liabilities."

(B)Investment in associates and joint ventures

An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the
financial and operating policy decisions of the investee, but is not control or joint control over those policies.

A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the
net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only
when decisions about the relevant activities require unanimous consent of the parties sharing control. The considerations
made in determining whether significant influence or joint control are similar to those necessary to determine control over the
subsidiaries.

The Group’s investments in its associate and joint venture are accounted for using the equity method. Under the equity
method, the investment in an associate or a joint venture is initially recognised at cost. The carrying amount of the investment
is adjusted to recognise changes in the Group’s share of net assets of the associate or joint venture since the acquisition
date. Goodwill relating to the associate or joint venture is included in the carrying amount of the investment and is not tested
for impairment individually.

The statement of profit and loss reflects the Group’s share of the results of operations of the associate or joint venture. Any
change in OCI of those investees is presented as part of the Group’s OCI. In addition, when there has been a change
recognised directly in the equity of the associate or joint venture, the Group recognises its share of any changes, when
applicable, in the statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group
and the associate or joint venture are eliminated to the extent of the interest in the associate or joint venture.

If Group’s share of losses of an associate or a joint venture equals or exceeds its interest in the associate or joint venture
(which includes any long term interest that, in substance, form part of the Group’s net investment in the associate or joint
venture), the Group discontinues recognising its share of further losses. Additional losses are recognised only to the extent
that the Group has incurred legal or constructive obligations or made payments on behalf of the associate or joint venture. If
the associate or joint venture subsequently reports profits, the Group resumes recognising its share of those profits only after
its share of the profits equals the share of losses not recognised.

The aggregate of the Group’s share of profit or loss of an associate and a joint venture is shown on the face of the statement
of profit and loss.

The financial statements of the associate or joint venture are prepared for the same reporting period as the Group. When
necessary, adjustments are made to bring the accounting policies in line with those of the Group.

After application of the equity method, the Group determines whether it is necessary to recognise an impairment loss on its
investment in its associate or joint venture. At each reporting date, the Group determines whether there is objective evidence
that the investment in the associate or joint venture is impaired. If there is such evidence, the Group calculates the amount of
impairment as the difference between the recoverable amount of the associate or joint venture and its carrying value, and
then recognises the loss as ‘Share of profit of an associate and a joint venture’ in the statement of profit or loss.

Upon loss of significant influence over the associate or joint control over the joint venture, the Group measures and
recognises any retained investment at its fair value. Any difference between the carrying amount of the associate or joint
venture upon loss of significant influence or joint control and the fair value of the retained investment less cost to sell is
recognised in profit or loss.

The Group discontinue the use of equity method from the date the investment is classified as held for sale in accordance with
Ind AS 105 - Non-current Assets Held for Sale and Discontinued Operations and measures the interest in associate and joint

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

venture held for sale at the lower of its carrying amount and fair value less cost to sell.

(C)Business combination and goodwill

Business combinations other than those under common control transactions are accounted for using the acquisition method.
The cost of an acquisition is measured as the aggregate of the consideration transferred measured at acquisition date fair
value and the amount of any non-controlling interests in the acquiree. For each business combination, the Group elects
whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree’s
identifiable net assets. In respect to the business combination for acquisition of subsidiary, the Group has opted to measure
the non-controlling interests in the acquiree at the proportionate share of the acquiree’s identifiable net assets.
Acquisition-related costs are expensed as incurred.

At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognised at their acquisition date fair
values. For this purpose, the liabilities assumed include contingent liabilities representing present obligation and they are
measured at their acquisition fair values irrespective of the fact that outflow of resources embodying economic benefits is not
probable. However, the following assets and liabilities acquired in a business combination are measured at the basis
indicated as mentioned hereinafter

(i)Deferred tax assets or liabilities, and the assets or liabilities related to employee benefit arrangements are recognised and
measured in accordance with Ind AS 12 ""Income Tax"" and Ind AS 19 ""Employee Benefits"" respectively.

(ii)Potential tax effects of temporary differences and carry forwards of an acquiree that exist at the acquisition date or arise as
a result of the acquisition are accounted in accordance with Ind AS 12.

(iii)Liabilities or equity instruments related to share based payment arrangements of the acquiree or share – based payments
arrangements of the Group entered into to replace share-based payment arrangements of the acquiree are measured in
accordance with Ind AS 102 ""Share-based Payments"" at the acquisition date.

(iv)Assets (or disposal groups) that are classified as held for sale in accordance with Ind AS 105 ""Non-current Assets Held
for Sale"" and Discontinued Operations are measured in accordance with that standard.

(v)Reacquired rights are measured at a value determined on the basis of the remaining contractual term of the related
contract. Such valuation does not consider potential renewal of the reacquired right."

"When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification
and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the
acquisition date. This includes the separation of embedded derivatives in host contracts by the acquiree.

If the business combination is achieved in stages, any previously held equity interest is re-measured at its acquisition date
fair value and any resulting gain or loss is recognised in profit or loss or OCI, as appropriate. "

(D)Change in ownership interest

The Group treats transaction with non-controlling interests that do not result in a loss of control as transaction with the equity
owners of the Group. A change in ownership interest results in adjustment between the carrying amounts of the controlling
and non-controlling interest to reflect their relative interest in the subsidiary. Any difference between the amount of the
adjustment to non-controlling interests and any consideration paid or received is recognised within equity.

2.05Property, plant and equipment

Freehold Land is carried at historical cost. All other items of Property, Plant and equipment are stated at cost, less
accumulated depreciation and accumulated impairment losses, if any. Capital work in progress is stated at cost, net of
accumulated impairment loss, if any. The historical cost comprises of purchase price, taxes, duties, freight and other
incidental expenses directly attributable and related to acquisition and installation of the concerned assets and are further
adjusted by the amount of input tax credit availed wherever applicable.

Such cost includes the cost of replacing part of the plant and equipment and borrowing costs for long-term construction
projects if the recognition criteria are met. When significant parts of plant and equipment are required to be replaced at

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

intervals, the Group depreciates them separately based on their specific useful lives. Likewise, when a major inspection is
performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

criteria are satisfied. All other repair and maintenance costs are recognised in profit or loss as incurred. The present value of
the expected cost for the decommissioning of an asset after its use is included in the cost of the respective asset if the
recognition criteria for a provision are met.

Subsequent costs are included in asset's carrying amount or recognised as separate assets, as appropriate, only when it is
probable that future economic benefit associated with the item will flow to the Group and the cost of item can be measured
reliably.

An item of property, plant and equipment and any significant part initially recognised is derecognized upon disposal or when
no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset
(calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the
income statement when the asset is derecognised.

Capital work- in- progress includes cost of property, plant and equipment under installation / under development as at the
balance sheet date.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial
year end and adjusted prospectively, if appropriate.

Depreciation on property, plant and equipment is calculated on prorata basis on straight-line method using the useful lives of
the assets estimated by management. The useful life is as follows:

Assets Useful life (in years)

Building 30 and 60

Plant and Equipment 15

Moulds and Dies 6

Furniture and Fixtures 10

Vehicles 8 and 10

R &D Equipment 5 and15

Office Equipment 3 and 5

Mobile Phones 3

Electric Fans and Installations 10

Computers 3

Laptops 4

The useful lives of all the assets except moulds and dies, mobile phones and laptops have been determined as those
specified by part 'C' of Schedule II to the Companies Act, 2013. In respect of moulds and dies and mobile phones, useful
lives are lower than those specified by schedule II to the Companies Act 2013 and are depreciated over the estimated useful

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

lives of 6 years, 3 years respectively, in respect of laptop useful life is more than those specified by schedule II to the Group
Act 2013 and are depreciated over the estimated useful life of 4 years, in order to reflect the actual usage of assets. The
residual values are not more than 5% of the original cost of the assets. The asset's residual values and useful lives are
reviewed, and adjusted if appropriate.

Lease hold improvements are depreciated on straight line basis over shorter of the asset's useful life and their lease term
unless the entity expects to use the asset beyond the lease term.

Leasehold land is amortized on a straight line basis over the unexpired period of their respective lease ranging from 90-99
years.

2.06.Intangible assets

Separately acquired intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Cost of intangible assets acquired in
business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at
cost less accumulated amortization and accumulated impairment losses, if any. Internally generated intangibles, excluding
capitalized development cost, are not capitalized and the related expenditure is reflected in statement of Profit and Loss in
the period in which the expenditure is incurred. Cost comprises the purchase price and any attributable cost of bringing the
asset to its working condition for its intended use.

The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortized
over their useful lives and assessed for impairment whenever there is an indication that the intangible asset may be impaired.
The amortization period and the amortization method for an intangible asset with a finite useful life is reviewed at least at the
end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic
benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and are
treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in
the statement of profit and loss .

Intangible assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at
the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life
continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. The
Group has assessed indefinite life for such brand considering the expected usage, expected investment on brand, business
forecast and challenges to establish a premium electronic segment. These are carried at historical cost and tested for
impairment annually.

An intangible asset is derecognised upon disposal or when no future economic benefits are expected from its use or
disposal. Gains or losses arising from disposal of the intangible assets are measured as the difference between the net
disposal proceeds and the carrying amount of the asset and are recognized in the statement of profit and loss when the

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assets are disposed off.

Intangible assets with finite useful life are amortized on a straight line basis over their estimated useful life as under

Assets Useful life (in years)

Computer Software 6

R&D Software 6

Distributor/ Dealer Network 8

Non-Compete Fee 7

Brand and Trademarks Indefinite

Research and development cost

Research costs are expensed as incurred. Development expenditure incurred on an individual project is recognized as an
intangible asset when the Group can demonstrate all the following:

i)The technical feasibility of completing the intangible asset so that it will be available for use or sale;

ii)Its intention to complete the asset;

iii)Its ability to use or sale the asset;

iv)How the asset will generate future economic benefits;

v)The availability of adequate resources to complete the development and to use or sale the asset; and

vi)The ability to measure reliably the expenditure attributable to the intangible asset during development.

Following the initial recognition of the development expenditure as an asset, the cost model is applied requiring the asset to
be carried at cost less any accumulated amortization and accumulated impairment losses. Amortization of the asset begins
when development is complete and the asset is available for use. It is amortized on straight line basis over the estimated
useful life and is recognised in the statement of profit and loss . During the period of development, the asset is tested for
impairment annually.

Trademarks

Brand and Trademarks acquired in business combination are initially recognised at fair value at the date of acquisition.
Following initial recognition, brand and trademark are carried at the above recognised value less accumulated amortization
and accumulated impairment losses, if any. These Brand and trademarks have been in existence for considerable period and

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Group intends to continue use this intangible assets. Consequently it is believed that they have an indefinite life and are not
amortised. Instead impairment testing is performed annually and whenever a triggering event has occurred to determine
whether the carrying value exceeds the recoverable amount.

Distributor/ Dealer Network

Distributor/ Dealer Network acquired in business combination are initially recognised at fair value at the date of acquisition.
Following initial recognition, Distributor/ Dealer Network are carried at the above recognised value less accumulated
amortization and accumulated impairment losses, if any. They are amortised on a straight line basis over their estimated
useful life of 8 years assessed by the management.

Goodwill

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred over the fair value of
net identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is in excess of the
aggregate consideration transferred, the Group re-assesses whether it has correctly identified all of the assets acquired and
all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognised at the acquisition
date. If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration
transferred, then the gain is recognised in other comprehensive income and accumulated in equity as capital reserve.
However, if there is no clear evidence of bargain purchase, the entity recognizes the gain directly in equity as capital reserve,
without routing the same through other comprehensive income.

After initial recognition, goodwill is measured at cost less any accumulated impairment losses, if any. For the purpose of
impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group's
cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of
the acquire are assigned to those units.

A cash generating unit to which goodwill has been allocated is tested for impairment annually or earlier, when there is an
indication that the unit may be impaired. If the recoverable amount of the cash generating unit is less than its carrying
amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to
the other assets of the unit pro rata based on the carrying amount of each asset in the unit. Any impairment loss for goodwill
is recognised in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods.

Where goodwill has been allocated to a cash-generating unit and part of the operation within that unit is disposed of, the
goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the
gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed
operation and the portion of the cash-generating unit retained.

2.07.Impairment of non- financial assets

The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication
exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. An
asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s (CGU) fair value less costs of disposal and
its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash
inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or
CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair
value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an
appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for
publicly traded companies or other available fair value indicators.

The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for
each of the Group's CGUs to which the individual assets are allocated. These budgets and forecast calculations generally
cover a period of five years. For longer periods, a long-term growth rate is calculated and applied to project future cash flows
after the fifth year. To estimate cash flow projections beyond periods covered by the most recent budgets/forecasts, the
Group extrapolates cash flow projections in the budget using a steady or declining growth rate for subsequent years, unless
an increasing rate can be justified. In any case, this growth rate does not exceed the long-term average growth rate for the
products, industries, or country or countries in which the Group operates, or for the market in which the asset is used.

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Impairment losses of continuing operations, including impairment on inventories, are recognised in the statement of profit and
loss, except for properties previously revalued with the revaluation surplus taken to OCI. For such properties, the impairment
is recognised in OCI up to the amount of any previous revaluation surplus.

For assets excluding goodwill and intangible assets having indefinite life, an assessment is made at each reporting date to
determine whether there is an indication that previously recognised impairment losses no longer exist or have decreased. If
such indication exists, the Group estimates the asset’s or CGU’s recoverable amount. A previously recognised impairment
loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since
the last impairment loss was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its
recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no
impairment loss been recognised for the asset in prior years. Such reversal is recognised in the statement of profit and loss
unless the asset is carried at a revalued amount, in which case, the reversal is treated as a revaluation increase.

"Goodwill is tested for impairment annually and when circumstances indicate that the carrying value may be impaired.
Impairment is determined for goodwill by assessing the recoverable amount of each CGU (or group of CGUs) to which the
goodwill relates. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is
recognised. Impairment losses relating to goodwill cannot be reversed in future periods.

Intangible assets with indefinite useful lives are tested for impairment annually as at March 31 at the CGU level, as
appropriate, and when circumstances indicate that the carrying value may be impaired."

2.08.Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.

(i)Financial Assets

The Group classifies its financial assets in the following measurement categories:

-Those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss)

-Those measured at amortized cost

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow
characteristics and the Group's business model for managing them

Initial recognition measurement

"With the exception of trade receivables that do not contain a significant financing component or for which the Group has
applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial
asset not at fair value through profit or loss, transaction costs.

Trade receivables that do not contain a significant financing component or for which the Group has applied the practical
expedient are measured at the transaction price determined under Ind AS 115. Refer to the accounting policies in section
'Revenue from contracts with customers'."

In order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needs to give rise to
cash flows that are ‘solely payments of principal and interest (SPPI)’ on the principal amount outstanding. This assessment is
referred to as the SPPI test and is performed at an instrument level. Financial assets with cash flows that are not SPPI are
classified and measured at fair value through profit or loss, irrespective of the business model.

"The Group's business model for managing financial assets refers to how it manages its financial assets in order to generate
cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the
financial assets, or both.

Financial assets classified and measured at amortised cost are held within a business model with the objective to hold

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

financial assets in order to collect contractual cash flows while financial assets classified and measured at fair value through
OCI are held within a business model with the objective of both holding to collect contractual cash flows and selling."

Subsequent measurement

For purposes of subsequent measurement financial assets are classified in following categories:

-Financial assets at amortised cost (debt instruments)

-Financial assets at fair value through other comprehensive income (FVTOCI) with recycling of cumulative gains and losses
(debt instruments)

-Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition
(equity instruments)

-Financial assets at fair value through profit or loss

Financial assets at amortised cost (debt instruments)

A ‘financial asset’ is measured at the amortised cost if both the following conditions are met:

a)Business Model Test : The objective is to hold the financial asset to collect the contractual cash flows (rather than to sell
the instrument prior to its contractual maturity to realize its fair value changes) and;

b)Cash flow characteristics test: The contractual terms of the financial asset give rise on specific dates to cash flows that are
solely payments of principal and interest on principal amount outstanding.

This category is most relevant to the Group. After initial measurement, such financial assets are subsequently measured at
amortized cost using the effective interest rate (EIR) method. Amortised cost is calculated by taking into account any discount
or premium on acquisition and fees or costs that are an integral part of EIR. EIR is the rate that exactly discounts the
estimated future cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
gross carrying amount of the financial asset. When calculating the effective interest rate, the Group estimates the expected
cash flows by considering all the contractual terms of the financial instrument but does not consider the expected credit
losses. The EIR amortization is included in other income in profit or loss. The losses arising from impairment are recognized
in the profit or loss. This category generally applies to trade and other receivables.

Financial assets at fair value through OCI (FVTOCI) (debt instruments)

A ‘financial asset’ is classified as at the FVTOCI if both of the following criteria are met:

a)Business Model Test : The objective of financial instrument is achieved by both collecting contractual cash flows and
selling the financial assets; and

b)Cash flow characteristics test: The contractual terms of the Debt instrument give rise on specific dates to cash flows that
are solely payments of principal and interest on principal amount outstanding.

Debt instrument included within the FVTOCI category are measured initially as well as at each reporting date at fair value.
Fair value movements are recognized in the other comprehensive income (OCI), except for the recognition of interest
income, impairment gains or losses and foreign exchange gains or losses which are recognized in statement of profit and
loss and computed in the same manner as for financial assets measured at amortised cost. The remaining fair value changes
are recognised in OCI. Upon derecognition, the cumulative fair value changes recognised in OCI is reclassified from the
equity to profit or loss.

Financial assets at fair value through profit or loss

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Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value
recognised in the statement of profit and loss. This category includes derivative instruments and listed equity investments
which the Group had not irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are
recognised in the statement of profit and loss when the right of payment has been established.

Financial assets designated at fair value through OCI (equity instruments)

Upon initial recognition, the Group can elect to classify irrevocably its equity investments as equity instruments designated at
fair value through OCI when they meet the definition of equity under Ind AS 32 Financial Instruments: Presentation and are
not held for trading. The classification is determined on an instrument-by-instrument basis. Equity instruments which are held
for trading and contingent consideration recognised by an acquirer in a business combination to which Ind AS103 applies are
classified as at FVTPL.

Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognised as other income in
the statement of profit and loss when the right of payment has been established, except when the Group benefits from such
proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity
instruments designated at fair value through OCI are not subject to impairment assessment.

Embedded Derivatives

A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated from the host and
accounted for as a separate derivative if: the economic characteristics and risks are not closely related to the host; a
separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and the hybrid
contract is not measured at fair value through profit or loss. Embedded derivatives are measured at fair value with changes in
fair value recognised in profit or loss. Reassessment only occurs if there is either a change in the terms of the contract that
significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the fair
value through profit or loss category.

Derecognition

A financial asset (or ,where applicable, a part of a financial asset or part of a Group of similar financial assets) is primarily
derecognised (i.e. removed from the Group's statement of financial position) when:

-The rights to receive cash flows from the asset have expired, or

-the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received
cash flows in full without material delay to a third party under a "pass through" arrangement and either;

(a) the Group has transferred substantially all the risks and rewards of the asset, or

(b)the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred
control of the asset.

When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through
arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither
transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group
continues to recognise the transferred asset to the extent of the Group’s continuing involvement. In that case, the Group also
recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the
rights and obligations that the Group has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original
carrying amount of the asset and the maximum amount of consideration that the group could be required to repay.

Impairment of financial assets

In accordance with IND AS 109, the Group applies expected credit losses( ECL) model for measurement and recognition of
impairment loss on the following financial asset and credit risk exposure

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

-Financial assets measured at amortized cost;

-Financial assets measured at fair value through other comprehensive income(FVTOCI);

ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash
flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected
cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the
contractual terms.

ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk
since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next
12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since
initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective
of the timing of the default (a lifetime ECL).

The Group follows "simplified approach" for recognition of impairment loss allowance on:

-Trade receivables or contract revenue receivables; Trade receivables which are held to collect and sale basis accounted for
as FVTPL

-All lease receivables resulting from the transactions within the scope of Ind AS 116 -Leases

Under the simplified approach, the Group does not track changes in credit risk. Rather , it recognizes impairment loss
allowance based on lifetime ECLs at each reporting date, right from its initial recognition. The Group uses a provision matrix
to determine impairment loss allowance on the portfolio of trade receivables. The provision matrix is based on its historically
observed default rates over the expected life of trade receivable and is adjusted for forward looking estimates. At every
reporting date, the historical observed default rates are updated and changes in the forward looking estimates are analysed.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the statement
of profit and loss. This amount is reflected under the head ‘other expenses’ in the statement of profit and loss. The balance
sheet presentation for various financial instruments is described below:

(a) Financial assets measured as at amortised cost: ECL is presented as an allowance, i.e., as an integral part of the
measurement of those assets in the balance sheet. The allowance reduces the net carrying amount. Until the asset meets
write-off criteria, the group does not reduce impairment allowance from the gross carrying amount.

(b) Loan commitments and financial guarantee contracts: ECL is presented as a provision in the balance sheet, i.e. as a
liability.

(c) Debt instruments measured at FVTOCI: For debt instruments measured at FVTOCI, the expected credit losses do not
reduce the carrying amount in the balance sheet, which remains at fair value. Instead, an amount equal to the allowance that
would arise if the asset was measured at amortised cost is recognised in other comprehensive income as the accumulated
impairment amount.

(ii)Financial liabilities:

Initial recognition and measurement

Financial liabilities are classified at initial recognition as financial liabilities at fair value through profit or loss, loans and
borrowings, and payables, net of directly attributable transaction costs. All financial liabilities are recognised initially at fair
value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Group
financial liabilities include loans and borrowings, trade payables, trade deposits, retention money, liabilities towards services,
sales incentive and other payables.

Subsequent measurement

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

For purposes of subsequent measurement, financial liabilities are classified in two categories:

(i) Financial liabilities at fair value through profit or loss

(ii) Financial liabilities at amortised cost (loans and borrowings)

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Group that are not designated as hedging instruments in hedge relationship as defined by Ind
AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Group may transfer the cumulative gain or loss within equity. All other changes in fair value of
such liability are recognized in the statement of profit or loss. the Group has not designated any financial liability as at fair
value through profit and loss.

Financial liabilities at amortised cost (Loans and borrowings)

After initial recognition, interest-bearing borrowings are subsequently measured at amortized cost using the Effective interest
rate method. Gains and losses are recognized in profit or loss when the liabilities are derecognised as well as through the
Effective interest rate amortization process. Amortized cost is calculated by taking into account any discount or premium on
acquisition and fees or costs that are an integral part of the Effective interest rate. The Effective interest rate amortization is
included as finance costs in the statement of profit and loss.

Trade Payables

These amounts represents liabilities for goods and services provided to the Group prior to the end of financial year which are
unpaid. The amounts are unsecured and are usually paid per the term of contract with suppliers. Trade and other payables
are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are
recognized initially at fair value and subsequently measured at amortized cost using Effective interest rate method.

Financial guarantee contracts

Financial guarantee contracts issued by the Group are those contracts that require a payment to be made to reimburse the
holder for a loss it incurs because the specified debtor fails to make a payment when due in accordance with the terms of a
debt instrument. Financial guarantee contracts are recognized initially as a liability at fair value, adjusted for transaction costs
that are directly attributable to the issuance of the guarantee. Subsequently, the liability is measured at the higher of the
amount of loss allowance determined as per impairment requirements of IND AS 109 and the amount recognized less
cumulative amortization.

Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an
existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an
existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original
liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement
of profit and loss.

Offsetting of financial instruments

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Financials assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently
enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets
and settle the liabilities simultaneously.

Reclassification of financial assets/ financial liabilities

The Group determines classification of financial assets and liabilities on initial recognition. After initial recognition, no
reclassification is made for financial assets which are equity instruments and financial liabilities. For financial assets which
are debt instruments, a reclassification is made only if there is a change in the business model for managing those assets.
Changes to the business model are expected to be infrequent. The Group’s senior management determines change in the
business model as a result of external or internal changes which are significant to the Group’s operations. Such changes are
evident to external parties. A change in the business model occurs when the Group either begins or ceases to perform an
activity that is significant to its operations. If the Group reclassifies financial assets, it applies the reclassification prospectively
from the reclassification date which is the first day of the immediately next reporting period following the change in business
model. The Group does not restate any previously recognised gains, losses (including impairment gains or losses) or
interest.

2.09.Derivative financial instruments and hedge accounting

Initial recognition and subsequent measurement

"Derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into
and are subsequently re-measured at fair value. Derivatives are carried as financial assets when the fair value is positive and
as financial liabilities when the fair value is negative.

The purchase contracts that meet the definition of a derivative under Ind AS 109 are recognised in the statement of profit and
loss. Commodity contracts that are entered into and continue to be held for the purpose of the receipt or delivery of a
non-financial item in accordance with the Group’s expected purchase, sale or usage requirements are held at cost.

Any gains or losses arising from changes in the fair value of derivatives are taken directly to profit or loss, except for the
effective portion of cash flow hedges, which is recognised in OCI and later reclassified to profit or loss when the hedge item
affects profit or loss or treated as basis adjustment if a hedged forecast transaction subsequently results in the recognition of
a non-financial asset or non-financial liability.

For the purpose of hedge accounting, hedges are classified as:

(i)Fair value hedges when hedging the exposure to changes in the fair value of a recognised asset or liability or an
unrecognised firm commitment

(ii)Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk
associated with a recognised asset or liability or a highly probable forecast transaction or the foreign currency risk in an
unrecognised firm commitment

(iii)Hedges of a net investment in a foreign operation"

Hedges that meet the strict criteria for hedge accounting are accounted for, as described below:

(i) Fair value hedges

"The change in the fair value of a hedging instrument is recognised in the statement of profit and loss as finance costs. The
change in the fair value of the hedged item attributable to the risk hedged is recorded as part of the carrying value of the
hedged item and is also recognised in the statement of profit and loss as finance costs.

For fair value hedges relating to items carried at amortised cost, any adjustment to carrying value is amortised through profit
or loss over the remaining term of the hedge using the EIR method. EIR amortization may begin as soon as an adjustment
exists and no later than when the hedged item ceases to be adjusted for changes in its fair value attributable to the risk being
hedged.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

If the hedged item is derecognised, the unamortised fair value is recognised immediately in profit or loss. When an
unrecognised firm commitment is designated as a hedged item, the subsequent cumulative change in the fair value of the
firm commitment attributable to the hedged risk is recognised as an asset or liability with a corresponding gain or loss
recognised in profit and loss."

(ii) Cash flow hedges

"The effective portion of the gain or loss on the hedging instrument is recognised in OCI in the cash flow hedge reserve, while
any ineffective portion is recognised immediately in the statement of profit and loss.

The ineffective portion relating to foreign currency contracts is recognised in finance costs and the ineffective portion relating
to commodity contracts is recognised in other income or expenses.

Amounts recognised as OCI are transferred to profit or loss when the hedged transaction affects profit or loss, such as when
the hedged financial income or financial expense is recognised or when a forecast sale occurs. When the hedged item is the
cost of a non-financial asset or non-financial liability, the amounts recognised as OCI are transferred to the initial carrying
amount of the non-financial asset or liability.

If the hedging instrument expires or is sold, terminated or exercised without replacement or rollover (as part of the hedging
strategy), or if its designation as a hedge is revoked, or when the hedge no longer meets the criteria for hedge accounting,
any cumulative gain or loss previously recognised in OCI remains separately in equity until the forecast transaction occurs or
the foreign currency firm commitment is met."

2.10.Inventories

a)Basis of valuation:

i)Inventories other than scrap materials are valued at lower of cost and net realizable value after providing cost of
obsolescence, if any. However, materials and other items held for use in the production of inventories are not written down
below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. The
comparison of cost and net realizable value is made on an item-by-item basis.

ii)Inventory of scrap materials have been valued at net realizable value.

b)Method of Valuation:

i)Cost of raw materials has been determined by using moving weighted average cost method and comprises all costs of
purchase, duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in
bringing the inventories to their present location and condition.

ii)Cost of finished goods and work-in-progress includes direct labour and an appropriate share of fixed and variable
production overheads. Fixed production overheads are allocated on the basis of normal capacity of production facilities. Cost
is determined on moving weighted average basis.

iii)Cost of traded goods has been determined by using moving weighted average cost method and comprises all costs of
purchase, duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in
bringing the inventories to their present location and condition.

iv)Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion
and estimated costs necessary to make the sale.

2.11.Non-current assets held for sale

The Group classifies non-current assets as held for sale if their carrying amounts will be recovered principally through a sale

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

rather than through continuing use and the sale is considered highly probable. Such non-current assets classified as held for
sale are measured at the lower of their carrying amount and fair value less costs to sell . Any expected loss is recognized
immediately in the statement of profit and loss.

The criteria for held for sale classification is regarded as met only when the assets is available for immediate sale in its
present condition, subject only to terms that are usual and customary for sales of such assets, its sale is highly probable; and
it will genuinely be sold. The Group treats sale of the asset to be highly probable when:

i)The appropriate level of management is committed to a plan to sell the asset

ii)An active programme to locate a buyer and complete the plan has been initiated (if applicable)

iii)The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value,

iv)The sale is expected to qualify for recognition as a completed sale within one year from the date of classification , and

v)Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the
plan will be withdrawn.

The criteria for held for sale classification is regarded as met only when the sale is highly probable and the asset is available
for immediate sale in its present condition and the assets must have actively marketed for sale at a price that is reasonable in
relation to its current fair value. Actions required to complete the sale should indicate that it is unlikely that significant changes
to the plan to sale these assets will be made. Management must be committed to the sale, which should be expected to
qualify for recognition as a completed sale within one year from the date of classification.

Property, plant and equipment and intangible assets once classified as held for sale are not depreciated or amortized. Assets
and liabilities classified as held for sale are presented separately as current items in the balance sheet.

2.12.Income Tax

The income tax expense or credit for the period is the tax payable on the current period's taxable income based on the
applicable income tax rate adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and
to unused tax losses. Income Tax expense for the year comprises of current tax and deferred tax.

a)Current income tax

Current income tax, assets and liabilities are measured at the amount expected to be paid to or recovered from the taxation
authorities in accordance with the Income Tax Act, 1961 and the Income Computation and Disclosure Standards (ICDS)
enacted in India by using tax rates and the tax laws that are enacted at the reporting date.

"The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the
reporting period in the countries where the Group operate and generate taxable income. Management periodically evaluates
positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and
considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The group measures its tax
balances either based on the most likely amount or the expected value, depending on which method provides a better
prediction of the resolution of the uncertainty.

Current income tax relating to item recognized outside the statement of profit and loss is recognized outside profit or loss
(either in other comprehensive income or equity).Current tax items are recognized in correlation to the underlying
transactions either in OCI or directly in equity.

b)Deferred Tax

Deferred tax is provided in full using the balance sheet method on temporary differences arising between the tax bases of
assets and liabilities and their carrying amounts in the financial statements. However, deferred tax liabilities are not
recognised if they arise from the initial recognition of goodwill.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

"Deferred tax liabilities are recognised for all taxable temporary differences, except:

i)When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not
a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss

ii)In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint
ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary
differences will not reverse in the foreseeable future"

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any
unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available
against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can
be utilised, except:

i)When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or
liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting
profit nor taxable profit or loss.

ii)In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint
ventures, deferred tax assets are recognised only to the extent that it is probable that the temporary differences will reverse
in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer
probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized
deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that
future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is
realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the
reporting date.

Deferred tax relating to items recognized outside the statement of profit and loss is recognized outside the statement of profit
and loss (either in other comprehensive income or in equity). Deferred tax items are recognized in correlation to the
underlying transaction either in OCI or direct in equity.

Tax benefits acquired as part of a business combination, but not satisfying the criteria for separate recognition at that date,
are recognised subsequently if new information about facts and circumstances change. Acquired deferred tax benefits
recognised within the measurement period reduce goodwill related to that acquisition if they result from new information
obtained about facts and circumstances existing at the acquisition date. If the carrying amount of goodwill is zero, any
remaining deferred tax benefits are recognised in OCI/ capital reserve depending on the principle explained for bargain
purchase gains. All other acquired tax benefits realized are recognised in profit or loss.

2.13."Revenue from contract with customers

The Group manufactures/ trades and sells a range of consumer electrical and electronic products. Revenue from contracts
with customers involving sale of these products is recognized at a point in time when control of the product has been
transferred, and there are no unfulfilled obligation that could affect the customer's acceptance of the products which usually
happen on delivery of goods. The Group also provides installation, annual maintenance and warranty services that are either
sold separately or bundled together with the sale of goods. The Group recognizes these service revenue from sales of
services over a period of time, because the customer simultaneously receives and consumes the benefits provided by the
Group. The Group has objective evidence that all criterion for acceptance has been satisfied. A receivable is recognised
when the control of the product is transferred as the consideration is unconditional and payment becomes due upon passage
of time as per the terms of contract with customers.

(a) Sale of goods

"Revenue from sale of goods is recognised at the point in time when control of the goods is transferred to the customer,
generally on delivery of the goods and there are no unfulfilled obligations.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

The Group considers, whether there are other promises in the contract in which their are separate performance obligations,
to which a portion of the transaction price needs to be allocated. In determining the transaction price for the sale of goods,
the Group allocates a portion of the transaction price to different performance obligations goods bases on its relative
consolidated prices and also considers the following:-

(i) Variable consideration

"The Group recognizes revenue from the sale of goods measured at the consolidated selling price of the consideration
received or receivable, net of returns and allowances, trade discounts and volume rebates. If the consideration in a contract
includes a variable amount, the Group estimates the amount of consideration to which it will be entitled in exchange for
transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is
highly probable that a significant revenue reversal in the amount of cumulative revenue recognised will not occur when the
associated uncertainty with the variable consideration is subsequently resolved. The Group operates several sales incentive
programmes wherein the customers are eligible for several benefits on achievement of underlying conditions as prescribed in
the scheme programme such as credit notes, reimbursement, investments etc. Revenue from contract with customer is
presented after deducting cost of all these schemes.

(ii)Warranty obligations

The Group generally provides for warranties for general repair of defects. These warranties are assurance-type warranties
under Ind AS 115, which are accounted for under Ind AS 37 (Provisions, Contingent Liabilities and Contingent Assets).
However, in certain non-standard contracts in respect of sale of consumer durable goods, the Group provides extended
warranties and such warranties are termed as service-type warranties and therefore, accounted for as separate performance
obligations to which the Group allocates a portion of the transaction price. Revenue from service-type warranties is
recognised over the period in which the service is provided based on the time elapsed

(iii)Significant Financing Components

"In respect of short-term advances from its customers, using the practical expedient in Ind AS 115, the Group does not adjust
the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception,
that the period between the transfer of the promised good or service to the customer and when the customer pays for that
good or service will be within normal operating cycle.

In respect of long term contracts, the transaction price for these contracts is discounted, using the interest rate implicit in the
contract (i.e., the interest rate that discounts the cash selling price of the equipment to the amount paid in advance).

No significant element of financing is deemed present as the sales are made with a credit term of 21 to 90 days, which is
consistent with market practice."

(b)Sale of services

The Group provides installation, annual maintenance and extended warranty services that are sold separately. The Group
recognizes revenue from sales of services over time, because the customer simultaneously receives and consumes the
benefits provided by the Group. Revenue from services related activities is recognised as and when services are rendered
and on the basis of contractual terms with the parties.

(c)Contract balances

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. Contract assets
are in the nature of unbilled receivables, which arises when Group satisfies a performance obligation but does not have an
unconditional rights to consideration. A receivables represents the Group's right to an amount of consideration that is
unconditional. Contract assets are subject to impairment assessment. Refer to accounting policies on impairment of financial
assets in section (Financial instruments – initial recognition and subsequent measurement).

A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration
(or an amount of consideration is due) from the customer. If a customer pays consideration before the Group transfers goods
or services to the customer, a contract liability is recognised when the payment is made or the payment is due (whichever is
earlier). Contract liabilities are recognised as revenue when the Group performs under the contract (i.e., transfers control of
the related goods or services to the customer).

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

A trade receivable is recognised if an amount of consideration that is unconditional (i.e., only the passage of time is required
before payment of the consideration is due). Refer to accounting policies of financial assets in section (Financial instruments
– initial recognition and subsequent measurement).

(d)Income from Service Concession Arrangement

Revenue related to Street Lights Upgrade services provided under service concession arrangement is recognized as per the
agreement with the grantor. The Group recognizes a financial asset arising from the service concession agreement when it
has an unconditional contractual right to receive cash or another financial asset from or at the direction of the grantor of the
concession for the upgrade services provided. Such financial assets are measured at fair value upon initial recognition.

2.14.Other Income

(a)Interest Income

For all debt instruments measured either at amortised cost or at fair value through other comprehensive income, interest
income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash
payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the gross
carrying amount of the financial asset or to the amortised cost of a financial liability. When calculating the effective interest
rate, the Group estimates the expected cash flows by considering all the contractual terms of the financial instrument (for
example, prepayment, extension, call and similar options) but does not consider the expected credit losses. Interest income
is included in other income in the statement of profit and loss.

2.15.Other Operating Revenues

(a) Export benefit

Revenue from export benefits arising from Duty entitlement pass book (DEPB scheme), duty drawback scheme,
merchandise export incentive scheme, Remission of duties and taxes on exported product scheme are recognised on export
of goods in accordance with their respective underlying scheme at fair value of consideration received or receivable.

(b )Government Grants

Government Grants are recognized at their fair value when there is reasonable assurance that the grant will be received and
all the attached conditions will be complied with.

When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related
costs, for which it is intended to compensate, are expensed. Government grant related to the non-monetary asset are
recognised at nominal value and presented by deducting the same from carrying amount of related asset and the grant is
then recognised in profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.

2.16Retirement and other employee benefits

(i)Short-term obligations

Liabilities for wages and salaries, including non monetary benefits that are expected to be settled wholly within twelve months
after the end of the period in which the employees render the related service are recognized in respect of employee service
upto the end of the reporting period and are measured at the amount expected to be paid when the liabilities are settled. The
liabilities are presented as current employee benefit obligations in the balance sheet.

(ii)Post employment

a)Gratuity

The Employee's Gratuity Fund Scheme, which is defined benefit plan, is managed by Trust with its investments maintained

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

with Bajaj Allianz Life Insurance Co.Ltd. The liabilities with respect to Gratuity Plan are determined by actuarial valuation on
projected unit credit method on the balance sheet date, based upon which the Group contributes to the Gratuity Scheme. The
difference, if any, between the actuarial valuation of the gratuity of employees at the year end and the balance of funds is

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

provided for as assets/ (liability) in the books. Net interest is calculated by applying the discount rate to the net defined benefit
liability or asset. The Group recognizes the following changes in the net defined benefit obligation under Employee benefit
expense in statement of profit or loss:

a)Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine
settlements

b)Net interest expense or income

Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net
interest on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the net
defined benefit liability), are recognized immediately in the Balance Sheet with a corresponding debit or credit to retained
earnings through other comprehensive income in the period in which they occur. Remeasurements are not reclassified to
profit or loss in subsequent periods.

b)Provident fund

Retirement benefit in the form of provident fund is a defined contribution scheme. the Group has no obligation, other than the
contribution payable to the provident fund. The Group recognizes contribution payable through provident fund scheme as an
expense, when an employee renders the related services. If the contribution payable to scheme for service received before
the balance sheet date exceeds the contribution already paid, the deficit payable to the scheme is recognized as liability after
deducting the contribution already paid. If the contribution already paid exceeds the contribution due for services received
before the balance sheet date, then excesses recognized as an asset to the extent that the prepayment will lead to, for
example, a reduction in future payment or a cash refund.

(iii)Other employee benefits

"Employees (including senior executives) of the Group receive remuneration in the form of share based payment
transactions, whereby employees render services as consideration for equity instruments . In accordance with the Securities
and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and the Ind-AS 102 Share based
payments, the fair value of options granted under the Havells Long Term cumulative expense recognized for equity-settled
transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the
Group’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit recognized in the
Statement of Profit and Loss for a period represents the movement in cumulative expense recognized as at the beginning
and end of that period and is recognized in employee benefits expense.

Where the terms of an equity-settled transaction award are modified, the minimum expense recognized is the expense as if
the terms had not been modified, if the original terms of the award are met. An additional expense is recognized for any
modification that increases the total intrinsic value of the share-based payment transaction, or is otherwise beneficial to the
employee as measured at the date of modification. The Employee stock option scheme is administered through Havells
Employee Welfare Trust."

The Group provides long term incentive plan to employees via equity settled share based payments as enumerated below:

(a)Havells Employee Stock Purchase Plan: The fair value of options granted under this option plan is recognised as an
employee benefit expense with corresponding increase in equity in accordance with recognition and measurement principles
as prescribed in Ind AS 102 Share Based Payments when grant is made. The total expense is recognised over the vesting
period, which is the period over which all of the specified vesting conditions are to be satisfied. At end of the reporting period,
the entity revises its estimates of the number of options that are expected to vest based on the non-market vesting and
service conditions. It recognizes the impact of the revision to original estimates, if any, in profit or loss, with corresponding
adjustment to equity.

(b)Havells Employees Long term Incentive plan: These are in nature of employee benefit wherein employees (including
senior executives) of the Group purchase shares of the Group at fair value on the grant cum allotment date and receives
remuneration in the form of ex-gratia equivalent to predefined percentage of purchase price paid by designated employee
subject to serving of relevant period of service after the grant cum allotment date. These are recognised at fair value of
shares granted and allotted as employee benefit expense over the period of employee serving relevant period.

2.17.Leases

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right
to control the use of an identified asset for a period of time in exchange for consideration.

Group as a lessee

The Group’s lease asset classes primarily comprise of lease for land and building. The Group applies a single recognition
and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group
recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying
assets.

i)Right-of-use assets (ROU)

The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease
incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the
estimated useful lives of the building (i.e. 30 and 60 years)

If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a
purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also
subject to impairment. Refer to the accounting policies in section 'Impairment of non-financial assets'.

The Group classifies ROU assets as part of Property plant and equipment in Balance Sheet and lease liability in " Financial
Liability".

ii)Lease Liabilities

"At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease
payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed
payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts
expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase
option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term
reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are
recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that
triggers the payment occurs.

In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease
commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement
date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made.
In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a
change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to
determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.

"Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the
lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.

Variable lease payments that depend on sales are recognised in profit or loss in the period in which the condition that triggers
those payments occurs."

(iii)"Short-term leases and leases of low-value assets

The Group applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that have a lease
term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of
low-value assets recognition exemption to leases that are considered to be low value. Lease payments on short-term leases
and leases of low-value assets are recognised as expense on a straight-line basis over the lease term."

2.18.Segment reporting :

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Operating segments are reported in a manner consistent with the internal reporting provided to the decision making authority.
The Board of directors monitors the operating results of all product segments separately for the purpose of making decisions
about resource allocation and performance assessment.

The operating segments have been identified on the basis of the nature of products/services. Further:

1.Segment revenue includes sales and other income directly identifiable with / allocable to the segment including inter -
segment revenue.

2.Expenses that are directly identifiable with / allocable to segments are considered for determining the segment result.
Expenses which relate to the Group as a whole and not allocable to segments are included under unallocable expenditure.

3.Income which relates to the Group as a whole and not allocable to segments is included in unallocable income.

4.Segment assets and liabilities include those directly identifiable with the respective segments. Unallocable assets and
liabilities represent the assets and liabilities that relate to the Group as a whole and not allocable to any segment.

2.19.Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by
the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares
outstanding during the period is adjusted for events such as bonus issue, bonus element in a rights issue, share split, and
reverse share split (consolidation of shares) if any that have changed the number of equity shares outstanding, without a
corresponding change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period are adjusted for the effect of all
potentially dilutive equity shares.

2.20.Borrowing Costs

Borrowing cost includes interest and other costs incurred in connection with the borrowing of funds and charged to Statement
of Profit & Loss on the basis of effective interest rate (EIR) method. Borrowing cost also includes exchange differences to the
extent regarded as an adjustment to the borrowing cost.

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective asset.
All other borrowing costs are recognized as expense in the period in which they occur.

2.21.Cash and cash equivalents

"Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits with an
original maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant
risk of changes in value.

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposit
held at call with financial institutions, other short - term, highly liquid investments with original maturities of three months or
less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value,
and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet."

2.22.Foreign currency translation

(i)Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic environment in which

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

the entity operates ('the functional currency'). The Group’s financial statements are presented in Indian rupee (INR) which is
also the Group’s functional and presentation currency.

(ii)Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rate prevailing at the date of the
transaction. Foreign exchange gains and losses resulting from the settlement of such transaction and from the translation of
monetary assets and liabilities denominated in foreign currencies at year end exchange rate are generally recognised in the
statement of profit and loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange
rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated
using the exchange rates at the date when the fair value is determined.

(iii)Exchange differences

Exchange differences arising on settlement or translation of monetary items are recognized as income or expense in the
period in which they arise with the exception of exchange differences on gain or loss arising on translation of non-monetary
items measured at fair value which is treated in line with the recognition of the gain or loss on the change in fair value of the
item (i.e., translation differences on items whose fair value gain or loss is recognized in OCI or profit or loss are also
recognized in OCI or profit or loss, respectively).

Group Companies

On consolidation, the results and financial position of foreign operations that have a functional currency different from the
presentation currency (INR) are translated to the presentation currency (INR) in the following manner:

a)Assets and liabilities are translated at the rate of exchange prevailing at the reporting date

b)Their statements of profit and loss are translated at exchange rates prevailing at the dates of the transactions. For practical
reasons, the group uses an average rate to translate income and expense items, if the average rate approximates the
exchange rates at the dates of the transactions

c)All resulting exchange differences arising on translation of financial statement of foreign operations for consolidation are
recognised in other comprehensive income.

d)On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is recognised in profit
or loss.

e)Any Goodwill arising on the acquisition/business combination of a foreign operation and any fair value adjustments to the
carrying amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign operation
and translated at the spot rate of exchange at the reporting date.

f)Gain or loss on a subsequent disposal of any foreign operation excludes translation differences that arose before the date
of transition but includes only translation differences arising after the transition date.

2.23.Provisions and Contingent Liabilities

Provisions

"A provision is recognized when the Group has a present obligation (legal or constructive) as a result of past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable
estimate can be made of the amount of the obligation. These estimates are reviewed at each reporting date and adjusted to
reflect the current best estimates. If the effect of the time value of money is material, provisions are discounted using a
current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in
the provision due to the passage of time is recognized as a finance cost.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

"Insurance claims are accounted for on the basis of claims admitted / expected to be admitted and to the extent that the
amount recoverable can be measured reliably and realisation in respect thereof is virtually certain.

Warranty Provisions

Provision for warranty-related costs are recognized when the product is sold or service is provided to customer. Initial
recognition is based on historical experience. the Group periodically reviews the adequacy of product warranties and adjust
warranty percentage and warranty provisions for actual experience, if necessary. The timing of outflow is expected to be with
in one to seven years.

Provision for E-Waste/Plastic-Waste

Provision for E-Waste/Plastic-Waste management costs are recognized when the liability in respect of products sold to
customer is established in accordance with E-waste Management Rules, 2016 as notified by Government of India. Initial
recognition is based on liability computed based on Extended Producer Responsibility as promulgated in said Rules including
cost to comply the said regulation and as reduced by expected realisation of collectable waste. The Group has assessed the
liability to arise on year to year basis.

Contingent liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence
or non-occurrence of one or more uncertain future events beyond the control of the Group or a present obligation that is not
recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent
liability also arises in extremely rare cases, where there is a liability that cannot be recognized because it cannot be
measured reliably. the Group does not recognize a contingent liability but discloses its existence in the financial statements
unless the probability of outflow of resources is remote.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

2.24Dividend Distributions

The Group recognizes a liability to make the payment of dividend to owners of equity, when the distribution is authorised and
the distribution is no longer at the discretion of the Group. As per the corporate laws in India, a distribution is authorised when
it is approved by the shareholders. A corresponding amount is recognised directly in equity.

2.25Fair value measurement

The Group measures financial instruments at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an ordinary transaction between
market participants at the measurement date. The fair value measurement is based on the presumption that the transaction
to sell the asset or transfer the liability takes place either:

(i) In the principal market for asset or liability, or

(ii) In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Group.

The fair value of an asset or liability is measured using the assumptions that market participants would use when pricing the
asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non- financial asset takes into account a market participant's ability to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in
its highest and best use.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximising the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the
fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as
a whole:

Level 1- Quoted(unadjusted) market prices in active markets for identical assets or liabilities

Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable

Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Group determines whether
transfers have occurred between levels in the hierarchy by re-assessing categorization ( based on the lowest level input that
is significant to fair value measurement as a whole ) at the end of each reporting period.

For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the
nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

2.26Business Combinations

(i)Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the
aggregate of the consideration transferred measured at acquisition date fair value and the amount of any non-controlling
interests in the acquire. For each business combination, the Group elects whether to measure the non-controlling interests in
the acquire at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are
expensed as incurred.

At the acquisition date, the identifiable assets acquired, and the liabilities assumed are recognised at their acquisition date
fair values. For this purpose, the liabilities assumed include contingent liabilities representing present obligation and they are
measured at their acquisition fair values irrespective of the fact that outflow of resources embodying economic benefits is not
probable.

(ii)Business Combinations involving entities or businesses in which all the combining entities or businesses are ultimately
controlled by the same party or parties both before and after the business combination, and where that control is not
transitory is accounted using the pooling of interests method as enumerated below:

a)The assets and liabilities of the combining entities are reflected at their carrying amounts.

b)No adjustments are made to reflect fair values, or recognise any new assets or liabilities. The only adjustments that are
made are to harmonise accounting policies.

c)The financial information in the financial statements in respect of prior periods should be restated as if the business
combination had occurred from the beginning of the preceding period in the financial statements, irrespective of the actual
date of the combination. However, if business combination had occurred after that date, the prior period information shall be
restated only from that date.

d)The balance of the retained earnings appearing in the financial statements of the transferor is aggregated with
corresponding balance appearing in the financial statements of the transferee or is adjusted against revenue reserve.

e)The identity of the reserves shall be preserved and shall appear in the financial statements of the transferee in the same
form in which they appeared in the financial statements of the transferor.

f)The difference, if any, between the amounts recorded as share capital issued plus any additional consideration in the form
of cash or other assets and the amount of share capital of the transferor is transferred to revenue reserves/ capital reserves.

97
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

2.27Significant accounting judgments, estimates and assumptions

The preparation of these consolidated financial statements requires the management to make judgments, use estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the acGrouping disclosures,
and the disclosure of contingent liabilities. Uncertainty about these judgements, assumptions and estimates could result in
outcomes that require a material adjustment to the carrying amount of the asset or liability affected in future periods.

a)Leases

"The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an
option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the
lease, if it is reasonably certain not to be exercised.

The Group has several lease contracts that include extension and termination options. The Group applies judgement in
evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is, it
considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. After the
commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that is
within its control and affects its ability to exercise or not to exercise the option to renew or to terminate (e.g., construction of
significant leasehold improvements or significant customisation to the leased asset).

"b)Taxes

Uncertainties exist with respect to the interpretation of tax regulations, changes in tax laws, and the amount and timing of
future taxable income. Given the wide range of business relationships differences arising between the actual results and the
assumptions made, or future changes to such assumptions, could necessitate future adjustments to tax income and expense
already recorded. The Group establishes provisions, based on reasonable estimates. The amount of such provisions is
based on various factors, such as experience of previous tax assessments and differing interpretations of tax regulations by
the taxable entity and the responsible tax authority. (Refer Note 16)

c)Gratuity benefit

The cost of defined benefit plans (i.e. Gratuity benefit) is determined using actuarial valuations. An actuarial valuation
involves making various assumptions which may differ from actual developments in the future. These include the
determination of the discount rate, future salary increases, mortality rates and future pension increases. Due to the
complexity of the valuation, the underlying assumptions and its long-term nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date. In determining the
appropriate discount rate, management considers the interest rates of long term government bonds with extrapolated
maturity corresponding to the expected duration of the defined benefit obligation. The mortality rate is based on publicly
available mortality tables for India. Future salary increases and pension increases are based on expected future inflation
rates for India. Further details about the assumptions used, including a sensitivity analysis, are given in Note 31(3).

d)Impairment of non-financial assets

The Group assesses at each reporting date whether there is an indication that an asset including intangible assets having
indefinite useful life and goodwill may be impaired. If any indication exists, or when annual impairment testing for an asset is
required, the Group estimates the asset's recoverable amount. An assets recoverable amount is the higher of an asset's
CGU'S fair value less cost of disposal and its value in use. Where the carrying amount of an asset or CGU exceeds its
recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use , the estimated future cash flows are estimated based on past rend and discounted to their present
value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific
to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such
transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation
multiples, or other fair value indicators.

e)Provision for warranty

Warranty provisions is determined based on the historical percentage of warranty expense to sales for the same types of
goods for which the warranty is currently being determined. The same percentage to the sales is applied for the current

98
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

accounting period to derive the warranty expense to be accrued. It is adjusted to account for unusual factors related to the
goods that were sold, such as defective inventory lying at the depots. The warranty claims may not exactly match the
historical warranty percentage, so such estimates are reviewed annually for any material changes in assumptions and
likelihood of occurrence. The assumptions are consistent with prior years. (Refer Note 18)

f)Provision for expected credit losses (ECL) of trade receivables and contract assets

"The Group uses a provision matrix to calculate ECLs for trade receivables and contract assets. The provision rates are
based on days past due for groupings of various customer segments that have similar loss patterns (i.e., by geography,
product type, customer type and rating, and coverage by letters of credit and other forms of credit insurance). The provision
matrix is initially based on the Group's historical observed default rates. The Group will calibrate the matrix to adjust the
historical credit loss experience with forward-looking information. At every reporting date, the historical observed default rates
are updated and changes in the forward-looking estimates are analysed.

The assessment of the correlation between historical observed default rates, forecast economic conditions and ECLs is a
significant estimate. The amount of ECLs is sensitive to changes in circumstances and of forecast economic conditions. The
Group's historical credit loss experience and forecast of economic conditions may also not be representative of customer’s
actual default in the future. The information about the ECLs on the Group’s trade receivables and contract assets is disclosed
in Note 31(9)"

g)Property, Plant and Equipment and intangible assets

Property, Plant and Equipment represent significant portion of the asset base of the Group. The charge in respect of periodic
depreciation is derived after determining an estimate of assets expected useful life and expected value at the end of its useful
life. The useful life and residual value of Group's assets are determined by Management at the time asset is acquired and
reviewed periodically including at the end of each year. The useful life is based on historical experience with similar assets, in
anticipation of future events, which may have impact on their life such as change in technology.

2.28Exceptional Item

Exceptional Items Group recognises exceptional item when items of income and expenses within Statement of Profit and
Loss from ordinary activities are of such size, nature or incidence that their disclosure is relevant to explain the performance
of the enterprise for the period.

[610300] Notes - Accounting policies, changes in accounting estimates and errors

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of changes in accounting policies, accounting estimates and errors
[TextBlock]
Disclosure of initial application of standards or interpretations
[TextBlock]
Whether initial application of an Ind AS has an effect on the
No No
current period or any prior period
Disclosure of voluntary change in accounting policy [TextBlock]
Whether there is any voluntary change in accounting policy No No
Disclosure of changes in accounting estimates [TextBlock]
Whether there are changes in acounting estimates during the year No No

99
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[400600] Notes - Property, plant and equipment

Disclosure of additional information about property plant and equipment [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child Straight line
Straight line Method
equipment member member Method
Useful lives or depreciation rates, property, Refer to child Refer to child Schedule II to the
90-99 Years
plant and equipment member member Companies Act,2013
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(2)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Buildings [Member] Other building [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child Refer to child Refer to child
equipment member member member member
Useful lives or depreciation rates, property, Refer to child Refer to child Refer to child Refer to child
plant and equipment member member member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(3)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other building [Member] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Straight line Refer to child Refer to child
Straight line Method
equipment Method member member
Useful lives or depreciation rates, property, Refer to child Refer to child
30- 60 Years 30- 60 Years
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

100
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of additional information about property plant and equipment [Table] ..(4)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Factory equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child Straight line
Straight line Method
equipment member member Method
Useful lives or depreciation rates, property, Refer to child Refer to child
15 Years 15 Years
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(5)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child Straight line
Straight line Method
equipment member member Method
Useful lives or depreciation rates, property, Refer to child Refer to child
10 Years 10 Years
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(6)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Vehicles [Member] Motor vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child Refer to child Refer to child
equipment member member member member
Useful lives or depreciation rates, property, Refer to child Refer to child Refer to child Refer to child
plant and equipment member member member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

101
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of additional information about property plant and equipment [Table] ..(7)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Motor vehicles [Member] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Straight line Refer to child Refer to child
Straight line Method
equipment Method member member
Useful lives or depreciation rates, property, Refer to child Refer to child
8-10 Years 8-10 Years
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(8)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Office equipment [Member] Leasehold improvements [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Straight line Refer to child Refer to child
Straight line Method
equipment Method member member
Useful lives or depreciation rates, property, Refer to child Refer to child
3-5 Years 3-5 Years
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(9)
Unless otherwise specified, all monetary values are in Crores of INR
Other property, plant and equipment
Classes of property, plant and equipment [Axis] Leasehold improvements [Member]
[Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member] Owned and leased assets [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Straight line Refer to child Refer to child
Straight line Method
equipment Method member member

Over shorter of the

Over shorter of the
Useful lives or depreciation rates, property, asset’s useful life Refer to child Refer to child
asset’s useful life and
plant and equipment and their initial member member
their initial
agreement period.
agreement period.
Whether property, plant and equipment are
No No No No
stated at revalued amount

102
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of additional information about property plant and equipment [Table] ..(10)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment, others [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Assets held under lease [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Refer to child Refer to child
NA NA
equipment member member
Useful lives or depreciation rates, property, Refer to child Refer to child
NA NA
plant and equipment member member
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(11)
Unless otherwise specified, all monetary values are in Crores of INR
Other property, plant and equipment,
Classes of property, plant and equipment [Axis]
others [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of detailed information about property, plant and equipment [TextBlock]
Disclosure of additional information about property plant and equipment [Abstract]
Disclosure of additional information about property plant and equipment [Line items]
Straight line
Depreciation method, property, plant and equipment Method
Straight line Method
Moulds and Dies- 6 Moulds and Dies- 6
Years, R &D Years, R &D
Equipment's - 5 and Equipment's - 5 and
15 Years, Mobile 15 Years, Mobile
Phones- 3 Years, Phones- 3 Years,
Useful lives or depreciation rates, property, plant and equipment Computers - 3 Computers - 3 Years,
Years, Electric Fans Electric Fans and
and Installations- 3 Installations- 3 and
and 10 Years, 10 Years, Laptops- 4
Laptops- 4 Years Years
Whether property, plant and equipment are stated at revalued amount No No

103
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2021
01/04/2022 01/04/2022
to 31/03/2021 to
to
31/03/2023 31/03/2023
31/03/2022
Disclosure of property, plant and equipment [TextBlock] Textual information (8) [See below]
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 507.11 410.91 507.11
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-270.04 -233.87
loss
Total Depreciation property plant and
-270.04 -233.87
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -3.72 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -3.72 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
30.67 12.7 75.1
equipment
Total disposals and retirements,
30.67 12.7 75.1
property, plant and equipment
Total increase (decrease) in property,
206.4 160.62 432.01
plant and equipment
Property, plant and equipment at end of
2,227.85 2,021.45 1,860.83 3,451.44
period

104
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(2)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 410.91
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
270.04 233.87
loss
Total Depreciation property plant and
270.04 233.87
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -3.72
equipment
Total increase (decrease) through
transfers and other changes, property, -3.72
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
40.89 44.43 28.19
equipment
Total disposals and retirements,
40.89 44.43 28.19
property, plant and equipment
Total increase (decrease) in property,
366.3 225.61 205.68
plant and equipment
Property, plant and equipment at end of
3,019.43 2,653.13 1,223.59 997.98
period

105
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(3)
Unless otherwise specified, all monetary values are in Crores of INR
Property, plant
Classes of property, plant and equipment [Axis] and equipment Land [Member]
[Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0.5
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0.01
equipment
Total disposals and retirements,
0 0.01
property, plant and equipment
Total increase (decrease) in property,
0 0.49
plant and equipment
Property, plant and equipment at end of
792.3 27.77 27.77 27.28
period

Disclosure of detailed information about property, plant and equipment [Table] ..(4)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0.5
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0.01
equipment
Total disposals and retirements,
0 0.01
property, plant and equipment
Total increase (decrease) in property,
0 0.49 0
plant and equipment
Property, plant and equipment at end of
27.77 27.77 27.28 0
period

106
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(5)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0.5
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0.01
equipment
Total disposals and retirements,
0 0.01
property, plant and equipment
Total increase (decrease) in property,
0 0 0.49
plant and equipment
Property, plant and equipment at end of
0 0 27.77 27.77
period

Disclosure of detailed information about property, plant and equipment [Table] ..(6)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Land [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0.5
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0.01
equipment
Total disposals and retirements,
0 0.01
property, plant and equipment
Total increase (decrease) in property,
0 0.49
plant and equipment
Property, plant and equipment at end of
27.28 27.77 27.77 27.28
period

107
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(7)
Unless otherwise specified, all monetary values are in Crores of INR
Buildings
Classes of property, plant and equipment [Axis] Land [Member]
[Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 95.11
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-30.88
loss
Total Depreciation property plant and
-30.88
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
6.75
equipment
Total disposals and retirements,
6.75
property, plant and equipment
Total increase (decrease) in property,
0 0 57.48
plant and equipment
Property, plant and equipment at end of
0 0 0 669.68
period

108
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(8)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 16.37 95.11 16.37
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-29.93
loss
Total Depreciation property plant and
-29.93
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -0.47 0 -0.47
equipment
Total increase (decrease) through
transfers and other changes, property, -0.47 0 -0.47
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.28 9.5 1.09
equipment
Total disposals and retirements,
0.28 9.5 1.09
property, plant and equipment
Total increase (decrease) in property,
-14.31 85.61 14.81
plant and equipment
Property, plant and equipment at end of
612.2 626.51 875.5 789.89
period

109
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(9)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
30.88 29.93
loss
Total Depreciation property plant and
30.88 29.93
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
2.75 0.81
equipment
Total disposals and retirements,
2.75 0.81
property, plant and equipment
Total increase (decrease) in property,
28.13 29.12
plant and equipment
Property, plant and equipment at end of
775.08 205.82 177.69 148.57
period

110
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(10)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 95.11 16.37 95.11
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-30.88 -29.93
loss
Total Depreciation property plant and
-30.88 -29.93
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -0.47 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -0.47 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
6.75 0.28 9.5
equipment
Total disposals and retirements,
6.75 0.28 9.5
property, plant and equipment
Total increase (decrease) in property,
57.48 -14.31 85.61
plant and equipment
Property, plant and equipment at end of
669.68 612.2 626.51 875.5
period

111
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(11)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 16.37
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
30.88 29.93
loss
Total Depreciation property plant and
30.88 29.93
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -0.47
equipment
Total increase (decrease) through
transfers and other changes, property, -0.47
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
1.09 2.75 0.81
equipment
Total disposals and retirements,
1.09 2.75 0.81
property, plant and equipment
Total increase (decrease) in property,
14.81 28.13 29.12
plant and equipment
Property, plant and equipment at end of
789.89 775.08 205.82 177.69
period

112
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(12)
Unless otherwise specified, all monetary values are in Crores of INR
Buildings
Classes of property, plant and equipment [Axis] Other building [Member]
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
[Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 95.11 16.37
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-30.88 -29.93
loss
Total Depreciation property plant and
-30.88 -29.93
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -0.47
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -0.47
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
6.75 0.28
equipment
Total disposals and retirements,
6.75 0.28
property, plant and equipment
Total increase (decrease) in property,
57.48 -14.31
plant and equipment
Property, plant and equipment at end of
148.57 669.68 612.2 626.51
period

113
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(13)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other building [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 95.11 16.37
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
30.88
loss
Total Depreciation property plant and
30.88
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -0.47
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -0.47
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
9.5 1.09 2.75
equipment
Total disposals and retirements,
9.5 1.09 2.75
property, plant and equipment
Total increase (decrease) in property,
85.61 14.81 28.13
plant and equipment
Property, plant and equipment at end of
875.5 789.89 775.08 205.82
period

114
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(14)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other building [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 95.11 16.37
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
29.93 -30.88 -29.93
loss
Total Depreciation property plant and
29.93 -30.88 -29.93
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -0.47
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -0.47
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.81 6.75 0.28
equipment
Total disposals and retirements,
0.81 6.75 0.28
property, plant and equipment
Total increase (decrease) in property,
29.12 57.48 -14.31
plant and equipment
Property, plant and equipment at end of
177.69 148.57 669.68 612.2
period

115
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(15)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other building [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 95.11 16.37
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 (A) -0.47
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -0.47
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
9.5 1.09
equipment
Total disposals and retirements,
9.5 1.09
property, plant and equipment
Total increase (decrease) in property,
85.61 14.81
plant and equipment
Property, plant and equipment at end of
626.51 875.5 789.89 775.08
period

(A) Recognition of grant related to assets

116
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(16)
Unless otherwise specified, all monetary values are in Crores of INR
Plant and
Classes of property, plant and equipment [Axis] Other building [Member] equipment
[Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 200.51
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
30.88 29.93 -90.18
loss
Total Depreciation property plant and
30.88 29.93 -90.18
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
2.75 0.81 14.23
equipment
Total disposals and retirements,
2.75 0.81 14.23
property, plant and equipment
Total increase (decrease) in property,
28.13 29.12 96.1
plant and equipment
Property, plant and equipment at end of
205.82 177.69 148.57 692.49
period

117
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(17)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 129.51 200.51 129.51
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-76.52
loss
Total Depreciation property plant and
-76.52
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -1.59 0 -1.59
equipment
Total increase (decrease) through
transfers and other changes, property, -1.59 0 -1.59
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
4.27 28.77 11.2
equipment
Total disposals and retirements,
4.27 28.77 11.2
property, plant and equipment
Total increase (decrease) in property,
47.13 171.74 116.72
plant and equipment
Property, plant and equipment at end of
596.39 549.26 1,147.65 975.91
period

118
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(18)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
90.18 76.52
loss
Total Depreciation property plant and
90.18 76.52
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
14.54 6.93
equipment
Total disposals and retirements,
14.54 6.93
property, plant and equipment
Total increase (decrease) in property,
75.64 69.59
plant and equipment
Property, plant and equipment at end of
859.19 455.16 379.52 309.93
period

119
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(19)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 200.51 129.51 200.51
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-90.18 -76.52
loss
Total Depreciation property plant and
-90.18 -76.52
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -1.59 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -1.59 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
14.23 4.27 28.77
equipment
Total disposals and retirements,
14.23 4.27 28.77
property, plant and equipment
Total increase (decrease) in property,
96.1 47.13 171.74
plant and equipment
Property, plant and equipment at end of
692.49 596.39 549.26 1,147.65
period

120
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(20)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 129.51
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
90.18 76.52
loss
Total Depreciation property plant and
90.18 76.52
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -1.59
equipment
Total increase (decrease) through
transfers and other changes, property, -1.59
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
11.2 14.54 6.93
equipment
Total disposals and retirements,
11.2 14.54 6.93
property, plant and equipment
Total increase (decrease) in property,
116.72 75.64 69.59
plant and equipment
Property, plant and equipment at end of
975.91 859.19 455.16 379.52
period

121
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(21)
Unless otherwise specified, all monetary values are in Crores of INR
Plant and
Classes of property, plant and equipment [Axis] equipment Factory equipments [Member]
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
[Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 200.51 129.51
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-90.18 -76.52
loss
Total Depreciation property plant and
-90.18 -76.52
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -1.59
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -1.59
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
14.23 4.27
equipment
Total disposals and retirements,
14.23 4.27
property, plant and equipment
Total increase (decrease) in property,
96.1 47.13
plant and equipment
Property, plant and equipment at end of
309.93 692.49 596.39 549.26
period

122
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(22)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Factory equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 200.51 129.51
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
90.18
loss
Total Depreciation property plant and
90.18
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -1.59
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -1.59
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
28.77 11.2 14.54
equipment
Total disposals and retirements,
28.77 11.2 14.54
property, plant and equipment
Total increase (decrease) in property,
171.74 116.72 75.64
plant and equipment
Property, plant and equipment at end of
1,147.65 975.91 859.19 455.16
period

123
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(23)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Factory equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 200.51 129.51
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
76.52 -90.18 -76.52
loss
Total Depreciation property plant and
76.52 -90.18 -76.52
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -1.59
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -1.59
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
6.93 14.23 4.27
equipment
Total disposals and retirements,
6.93 14.23 4.27
property, plant and equipment
Total increase (decrease) in property,
69.59 96.1 47.13
plant and equipment
Property, plant and equipment at end of
379.52 309.93 692.49 596.39
period

124
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(24)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Factory equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 200.51 129.51
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 (A) -1.59
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -1.59
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
28.77 11.2
equipment
Total disposals and retirements,
28.77 11.2
property, plant and equipment
Total increase (decrease) in property,
171.74 116.72
plant and equipment
Property, plant and equipment at end of
549.26 1,147.65 975.91 859.19
period

(A) Recognition of grant related to assets

125
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(25)
Unless otherwise specified, all monetary values are in Crores of INR
Furniture and
Classes of property, plant and equipment [Axis] Factory equipments [Member]
fixtures [Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 11.28
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
90.18 76.52 -7.22
loss
Total Depreciation property plant and
90.18 76.52 -7.22
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
14.54 6.93 1.89
equipment
Total disposals and retirements,
14.54 6.93 1.89
property, plant and equipment
Total increase (decrease) in property,
75.64 69.59 2.17
plant and equipment
Property, plant and equipment at end of
455.16 379.52 309.93 49.59
period

126
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(26)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 20.67 11.28 20.67
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-6.34
loss
Total Depreciation property plant and
-6.34
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -0.05 0 -0.05
equipment
Total increase (decrease) through
transfers and other changes, property, -0.05 0 -0.05
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.24 4.37 0.77
equipment
Total disposals and retirements,
0.24 4.37 0.77
property, plant and equipment
Total increase (decrease) in property,
14.04 6.91 19.85
plant and equipment
Property, plant and equipment at end of
47.42 33.38 80.29 73.38
period

127
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(27)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
7.22 6.34
loss
Total Depreciation property plant and
7.22 6.34
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
2.48 0.53
equipment
Total disposals and retirements,
2.48 0.53
property, plant and equipment
Total increase (decrease) in property,
4.74 5.81
plant and equipment
Property, plant and equipment at end of
53.53 30.7 25.96 20.15
period

128
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(28)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 11.28 20.67 11.28
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-7.22 -6.34
loss
Total Depreciation property plant and
-7.22 -6.34
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and 0 -0.05 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 -0.05 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
1.89 0.24 4.37
equipment
Total disposals and retirements,
1.89 0.24 4.37
property, plant and equipment
Total increase (decrease) in property,
2.17 14.04 6.91
plant and equipment
Property, plant and equipment at end of
49.59 47.42 33.38 80.29
period

129
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(29)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 20.67
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
7.22 6.34
loss
Total Depreciation property plant and
7.22 6.34
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and (A) -0.05
equipment
Total increase (decrease) through
transfers and other changes, property, -0.05
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.77 2.48 0.53
equipment
Total disposals and retirements,
0.77 2.48 0.53
property, plant and equipment
Total increase (decrease) in property,
19.85 4.74 5.81
plant and equipment
Property, plant and equipment at end of
73.38 53.53 30.7 25.96
period

(A) Recognition of grant related to assets

130
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(30)
Unless otherwise specified, all monetary values are in Crores of INR
Furniture and
Classes of property, plant and equipment [Axis] Vehicles [Member]
fixtures [Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
[Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 5.87 6.19
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-1.66 -1.1
loss
Total Depreciation property plant and
-1.66 -1.1
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.08 0.16
equipment
Total disposals and retirements,
0.08 0.16
property, plant and equipment
Total increase (decrease) in property,
4.13 4.93
plant and equipment
Property, plant and equipment at end of
20.15 13.75 9.62 4.69
period

131
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(31)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 5.87 6.19
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1.66
loss
Total Depreciation property plant and
1.66
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.72 2.75 0.64
equipment
Total disposals and retirements,
0.72 2.75 0.64
property, plant and equipment
Total increase (decrease) in property,
5.15 3.44 1.02
plant and equipment
Property, plant and equipment at end of
21.33 16.18 12.74 7.58
period

132
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(32)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 5.87 6.19
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1.1 -1.66 -1.1
loss
Total Depreciation property plant and
1.1 -1.66 -1.1
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
2.59 0.08 0.16
equipment
Total disposals and retirements,
2.59 0.08 0.16
property, plant and equipment
Total increase (decrease) in property,
-1.49 4.13 4.93
plant and equipment
Property, plant and equipment at end of
6.56 8.05 13.75 9.62
period

Disclosure of detailed information about property, plant and equipment [Table] ..(33)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 5.87 6.19
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.72 2.75
equipment
Total disposals and retirements,
0.72 2.75
property, plant and equipment
Total increase (decrease) in property,
5.15 3.44
plant and equipment
Property, plant and equipment at end of
4.69 21.33 16.18 12.74
period

133
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(34)
Unless otherwise specified, all monetary values are in Crores of INR
Motor vehicles
Classes of property, plant and equipment [Axis] Vehicles [Member]
[Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 5.87
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1.66 1.1 -1.66
loss
Total Depreciation property plant and
1.66 1.1 -1.66
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.64 2.59 0.08
equipment
Total disposals and retirements,
0.64 2.59 0.08
property, plant and equipment
Total increase (decrease) in property,
1.02 -1.49 4.13
plant and equipment
Property, plant and equipment at end of
7.58 6.56 8.05 13.75
period

134
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(35)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Motor vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 6.19 5.87 6.19
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-1.1
loss
Total Depreciation property plant and
-1.1
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.16 0.72 2.75
equipment
Total disposals and retirements,
0.16 0.72 2.75
property, plant and equipment
Total increase (decrease) in property,
4.93 5.15 3.44
plant and equipment
Property, plant and equipment at end of
9.62 4.69 21.33 16.18
period

135
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(36)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Motor vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1.66 1.1
loss
Total Depreciation property plant and
1.66 1.1
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.64 2.59
equipment
Total disposals and retirements,
0.64 2.59
property, plant and equipment
Total increase (decrease) in property,
1.02 -1.49
plant and equipment
Property, plant and equipment at end of
12.74 7.58 6.56 8.05
period

136
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(37)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Motor vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 5.87 6.19 5.87
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-1.66 -1.1
loss
Total Depreciation property plant and
-1.66 -1.1
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.08 0.16 0.72
equipment
Total disposals and retirements,
0.08 0.16 0.72
property, plant and equipment
Total increase (decrease) in property,
4.13 4.93 5.15
plant and equipment
Property, plant and equipment at end of
13.75 9.62 4.69 21.33
period

137
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(38)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Motor vehicles [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 6.19
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1.66 1.1
loss
Total Depreciation property plant and
1.66 1.1
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
2.75 0.64 2.59
equipment
Total disposals and retirements,
2.75 0.64 2.59
property, plant and equipment
Total increase (decrease) in property,
3.44 1.02 -1.49
plant and equipment
Property, plant and equipment at end of
16.18 12.74 7.58 6.56
period

138
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(39)
Unless otherwise specified, all monetary values are in Crores of INR
Motor vehicles
Classes of property, plant and equipment [Axis] Office equipment [Member]
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
[Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 26.93 12.35
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-15.26 -17.17
loss
Total Depreciation property plant and
-15.26 -17.17
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -0.1
equipment
Total increase (decrease) through
transfers and other changes, property, -0.1
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.61 0.73
equipment
Total disposals and retirements,
0.61 0.73
property, plant and equipment
Total increase (decrease) in property,
11.06 -5.65
plant and equipment
Property, plant and equipment at end of
8.05 44.29 33.23 38.88
period

139
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(40)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 26.93 12.35
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
15.26
loss
Total Depreciation property plant and
15.26
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -0.1
equipment
Total increase (decrease) through
transfers and other changes, property, -0.1
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
5.08 9.51 4.47
equipment
Total disposals and retirements,
5.08 9.51 4.47
property, plant and equipment
Total increase (decrease) in property,
21.85 2.74 10.79
plant and equipment
Property, plant and equipment at end of
141.56 119.71 116.97 97.27
period

140
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(41)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 26.93 12.35
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
17.17 -15.26 -17.17
loss
Total Depreciation property plant and
17.17 -15.26 -17.17
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -0.1
equipment
Total increase (decrease) through
transfers and other changes, property, -0.1
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
8.78 0.61 0.73
equipment
Total disposals and retirements,
8.78 0.61 0.73
property, plant and equipment
Total increase (decrease) in property,
8.39 11.06 -5.65
plant and equipment
Property, plant and equipment at end of
86.48 78.09 44.29 33.23
period

141
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(42)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 26.93 12.35
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and (A) -0.1
equipment
Total increase (decrease) through
transfers and other changes, property, -0.1
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
5.08 9.51
equipment
Total disposals and retirements,
5.08 9.51
property, plant and equipment
Total increase (decrease) in property,
21.85 2.74
plant and equipment
Property, plant and equipment at end of
38.88 141.56 119.71 116.97
period

(A) Recognition of grant related to assets

142
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(43)
Unless otherwise specified, all monetary values are in Crores of INR
Leasehold
Classes of property, plant and equipment [Axis] Office equipment [Member] improvements
[Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0.03
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
15.26 17.17 -1.81
loss
Total Depreciation property plant and
15.26 17.17 -1.81
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
4.47 8.78 0.15
equipment
Total disposals and retirements,
4.47 8.78 0.15
property, plant and equipment
Total increase (decrease) in property,
10.79 8.39 -1.93
plant and equipment
Property, plant and equipment at end of
97.27 86.48 78.09 4.77
period

143
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(44)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Leasehold improvements [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 2.02 0.03 2.02
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-1.6
loss
Total Depreciation property plant and
-1.6
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.02 1.1 0.06
equipment
Total disposals and retirements,
0.02 1.1 0.06
property, plant and equipment
Total increase (decrease) in property,
0.4 -1.07 1.96
plant and equipment
Property, plant and equipment at end of
6.7 6.3 14.05 15.12
period

144
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(45)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Leasehold improvements [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1.81 1.6
loss
Total Depreciation property plant and
1.81 1.6
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.95 0.04
equipment
Total disposals and retirements,
0.95 0.04
property, plant and equipment
Total increase (decrease) in property,
0.86 1.56
plant and equipment
Property, plant and equipment at end of
13.16 9.28 8.42 6.86
period

145
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(46)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Leasehold improvements [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0.03 2.02 0.03
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-1.81 -1.6
loss
Total Depreciation property plant and
-1.81 -1.6
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.15 0.02 1.1
equipment
Total disposals and retirements,
0.15 0.02 1.1
property, plant and equipment
Total increase (decrease) in property,
-1.93 0.4 -1.07
plant and equipment
Property, plant and equipment at end of
4.77 6.7 6.3 14.05
period

146
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(47)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Leasehold improvements [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 2.02
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1.81 1.6
loss
Total Depreciation property plant and
1.81 1.6
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.06 0.95 0.04
equipment
Total disposals and retirements,
0.06 0.95 0.04
property, plant and equipment
Total increase (decrease) in property,
1.96 0.86 1.56
plant and equipment
Property, plant and equipment at end of
15.12 13.16 9.28 8.42
period

147
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(48)
Unless otherwise specified, all monetary values are in Crores of INR
Leasehold
Classes of property, plant and equipment [Axis] improvements Other property, plant and equipment [Member]
[Member]
Assets held under
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
lease [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 167.38 223.3
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-123.03 -101.21
loss
Total Depreciation property plant and
-123.03 -101.21
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -1.51
equipment
Total increase (decrease) through
transfers and other changes, property, -1.51
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
6.96 6.99
equipment
Total disposals and retirements,
6.96 6.99
property, plant and equipment
Total increase (decrease) in property,
37.39 113.59
plant and equipment
Property, plant and equipment at end of
6.86 725.51 688.12 574.53
period

148
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(49)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 167.38 223.3
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
123.03
loss
Total Depreciation property plant and
123.03
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -1.51
equipment
Total increase (decrease) through
transfers and other changes, property, -1.51
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
25.56 15.5 18.6
equipment
Total disposals and retirements,
25.56 15.5 18.6
property, plant and equipment
Total increase (decrease) in property,
141.82 206.29 104.43
plant and equipment
Property, plant and equipment at end of
1,143.29 1,001.47 795.18 417.78
period

149
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(50)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 53.2 134.56
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
101.21 -50.61 -41.77
loss
Total Depreciation property plant and
101.21 -50.61 -41.77
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
8.51 4.22 6.59
equipment
Total disposals and retirements,
8.51 4.22 6.59
property, plant and equipment
Total increase (decrease) in property,
92.7 -1.63 86.2
plant and equipment
Property, plant and equipment at end of
313.35 220.65 432.03 433.66
period

Disclosure of detailed information about property, plant and equipment [Table] ..(51)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 53.2 134.56
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
8.85 13.13
equipment
Total disposals and retirements,
8.85 13.13
property, plant and equipment
Total increase (decrease) in property,
44.35 121.43
plant and equipment
Property, plant and equipment at end of
347.46 576.56 532.21 410.78
period

150
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(52)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment [Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
[Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 114.18
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
50.61 41.77 -72.42
loss
Total Depreciation property plant and
50.61 41.77 -72.42
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
4.63 6.54 2.74
equipment
Total disposals and retirements,
4.63 6.54 2.74
property, plant and equipment
Total increase (decrease) in property,
45.98 35.23 39.02
plant and equipment
Property, plant and equipment at end of
144.53 98.55 63.32 293.48
period

151
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(53)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 88.74 114.18 88.74
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-59.44
loss
Total Depreciation property plant and
-59.44
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -1.51 -1.51
equipment
Total increase (decrease) through
transfers and other changes, property, -1.51 -1.51
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0.4 16.71 2.37
equipment
Total disposals and retirements,
0.4 16.71 2.37
property, plant and equipment
Total increase (decrease) in property,
27.39 97.47 84.86
plant and equipment
Property, plant and equipment at end of
254.46 227.07 566.73 469.26
period

152
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(54)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
72.42 59.44
loss
Total Depreciation property plant and
72.42 59.44
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
13.97 1.97
equipment
Total disposals and retirements,
13.97 1.97
property, plant and equipment
Total increase (decrease) in property,
58.45 57.47
plant and equipment
Property, plant and equipment at end of
384.4 273.25 214.8 157.33
period

153
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(55)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment, others [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Nature of other property plant and equipment Refer to child
Refer to child member Refer to child member
others member
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 167.38 223.3 167.38
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-123.03 -101.21
loss
Total Depreciation property plant and
-123.03 -101.21
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -1.51
equipment
Total increase (decrease) through
transfers and other changes, property, -1.51
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
6.96 6.99 25.56
equipment
Total disposals and retirements,
6.96 6.99 25.56
property, plant and equipment
Total increase (decrease) in property,
37.39 113.59 141.82
plant and equipment
Property, plant and equipment at end of
725.51 688.12 574.53 1,143.29
period

154
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(56)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment, others [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Nature of other property plant and equipment Refer to child Refer to child
Refer to child member
others member member
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 223.3
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
123.03 101.21
loss
Total Depreciation property plant and
123.03 101.21
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -1.51
equipment
Total increase (decrease) through
transfers and other changes, property, -1.51
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
15.5 18.6 8.51
equipment
Total disposals and retirements,
15.5 18.6 8.51
property, plant and equipment
Total increase (decrease) in property,
206.29 104.43 92.7
plant and equipment
Property, plant and equipment at end of
1,001.47 795.18 417.78 313.35
period

155
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(57)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment, others [Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Right to use asset Right to use asset
Nature of other property plant and equipment
-Leasehold Land & -Leasehold Land &
others Leasehold Building Leasehold Building
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 53.2 134.56
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-50.61 -41.77
loss
Total Depreciation property plant and
-50.61 -41.77
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
4.22 6.59
equipment
Total disposals and retirements,
4.22 6.59
property, plant and equipment
Total increase (decrease) in property,
-1.63 86.2
plant and equipment
Property, plant and equipment at end of
220.65 432.03 433.66 347.46
period

156
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(58)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment, others [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Right to use asset Right to use asset Right to use asset
Nature of other property plant and equipment
-Leasehold Land & -Leasehold Land & -Leasehold Land &
others Leasehold Building Leasehold Building Leasehold Building
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and (B) 53.2 (C) 134.56
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
(D) 50.61
loss
Total Depreciation property plant and
50.61
equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
(E) 8.85 (F) 13.13 4.63
equipment
Total disposals and retirements,
8.85 13.13 4.63
property, plant and equipment
Total increase (decrease) in property,
44.35 121.43 45.98
plant and equipment
Property, plant and equipment at end of
576.56 532.21 (A) 410.78 144.53
period

Footnotes
(A) Leasehold Land : 228.28 Leasehold Building : 182.5
(B)
Particulars 2022-23

Leasehold Land 1.34

Leasehold Buildings 51.86

(C) Leasehold Land : 1.87 Leasehold Building : 132.69

(D)
Particulars 2022-23

Leasehold Land 2.54

Leasehold Buildings 48.07

(E)
Particulars 2022-23

Leasehold Buildings 8.85

(F) Leasehold Building : 13.13

157
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(59)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment, others [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and impairment
Carrying amount [Member]
amount [Axis] [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Moulds and Dies,R Moulds and Dies,R
Nature of other property plant and equipment Right to use asset -Leasehold & D Equipment's, & D Equipment's,
others Land & Leasehold Building Electrical Electrical
Installations Installations
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 114.18 88.74
equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
(B) 41.77 -72.42 -59.44
loss
Total Depreciation property plant and
41.77 -72.42 -59.44
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and -1.51
equipment
Total increase (decrease) through
transfers and other changes, property, -1.51
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
(C) 6.54 2.74 0.4
equipment
Total disposals and retirements,
6.54 2.74 0.4
property, plant and equipment
Total increase (decrease) in property,
35.23 39.02 27.39
plant and equipment
Property, plant and equipment at end of
98.55 (A) 63.32 293.48 254.46
period

Footnotes
(A) Leasehold Land : 3.71 Leasehold Building : 59.61
(B) Leasehold Land : 2.53 Leasehold Building : 39.24
(C) Leasehold Building : 6.54

158
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(60)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment, others [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property,
plant and equipment [TextBlock]
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Moulds and Dies,R & D Moulds and Dies,R & D
Nature of other property plant and equipment
Equipment's, Electrical Equipment's, Electrical
others Installations Installations
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and (B) 114.18 (C) 88.74
equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through other
changes, property, plant and (D) -1.51
equipment
Total increase (decrease) through
transfers and other changes, property, -1.51
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
(E) 16.71 (F) 2.37
equipment
Total disposals and retirements,
16.71 2.37
property, plant and equipment
Total increase (decrease) in property,
97.47 84.86
plant and equipment
Property, plant and equipment at end of
227.07 566.73 469.26 (A) 384.4
period

Footnotes
(A) Moulds and Dies : 295.45 R & D Equipment : 42.13 Electrical Installations : 46.82
(B)
Particulars 2022-23

R&D Equipments 9.97

Electrical Installations 6.56

Moulds and Dies 97.65

(C) Moulds and Dies : 79.45 R & D Equipment : 5.11 Electrical Installations : 4.18
(D) Recognition of grant related to assets
(E)
Particulars 2022-23

Electrical Installations 1.64

R&D Equipments 1.66

Moulds and Dies 13.41

(F) Moulds and Dies : 1.31 R & D Equipment : 0.91 Electrical Installations : 0.15

159
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about property, plant and equipment [Table] ..(61)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of property, plant and equipment [Axis] Other property, plant and equipment, others [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying amount [Axis] Accumulated depreciation and impairment [Member]
01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about property, plant and equipment
[TextBlock]
Disclosure of detailed information about property, plant and equipment
[Abstract]
Disclosure of detailed information about property, plant and
equipment [Line items]
Moulds and Dies,R & D Moulds and Dies,R & D
Nature of other property plant and equipment others Equipment's, Electrical Equipment's, Electrical
Installations Installations
Reconciliation of changes in property, plant and equipment
[Abstract]
Changes in property, plant and equipment [Abstract]
Depreciation, property, plant and equipment [Abstract]
Depreciation recognised in profit or loss (B) 72.42 (C) 59.44
Total Depreciation property plant and equipment 72.42 59.44
Disposals and retirements, property, plant and equipment
[Abstract]
Disposals, property, plant and equipment (D) 13.97 (E) 1.97
Total disposals and retirements, property, plant and
13.97 1.97
equipment
Total increase (decrease) in property, plant and equipment 58.45 57.47
Property, plant and equipment at end of period 273.25 214.8 (A) 157.33

Footnotes
(A) Moulds and Dies : 119.85 R & D Equipment : 16.52 Electrical Installations : 20.96
(B)
Particulars 2022-23

Electrical Installations 3.98

R&D Equipments 7.07

Moulds and Dies 61.37

(C) Moulds and Dies : 48.85 R & D Equipment : 6.68 Electrical Installations : 3.91
(D)
Particulars 2022-23

Moulds and Dies 11.33

R&D Equipments 1.55

Electrical Installations 1.09

(E) Moulds and Dies : 1.08 R & D Equipment : 0.76 Electrical Installations : 0.13
Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022
to
31/03/2023
Textual information (9)
Disclosure of property, plant and equipment [TextBlock] [See below]
Disclosure of detailed information about property, plant and equipment
[TextBlock]

160
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (8)

Disclosure of property, plant and equipment [Text Block]

Note 3 : Property, plant and equipment

Leasehold Plant and Moulds

Particulars Freehold Land Buildings
Improvements Machinery and Dies

Gross carrying amount (at cost)

At April 01, 2021 27.28 775.08 13.16 859.19 295.45

Additions 0.5 16.37 2.02 129.51 79.45

Recognition of grant related to assets

-0.47 - -1.59 -1.41
Refer note 3 (iv) -

Disposals/Adjustments * -0.01 -1.09 -0.06 -11.2 -1.31

At March 31, 2022 27.77 789.89 15.12 975.91 372.18

Additions 95.11 0.03 200.51 97.65

-

Recognition of grant related to assets - - - -

-

Disposals/adjustments * -9.5 -1.1 -28.77 -13.41

-

At March 31, 2023 27.77 875.5 14.05 1,147.65 456.42

Accumulated Depreciation

At April 01, 2021 148.57 6.86 309.93 119.85

-

Charge for the year 29.93 1.6 76.52 48.85

-

Disposals/adjustments -0.81 -0.04 -6.93 -1.08

-

161
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

At March 31, 2022 177.69 8.42 379.52 167.62

-

Charge for the year 30.88 1.81 90.18 61.37

-

Disposals/adjustments -2.75 -0.95 -14.54 -11.33

-

At March 31, 2023 205.82 9.28 455.16 217.66

-

Net carrying amount

At April 01, 2021 27.28 626.51 6.3 549.26 175.6

At March 31, 2022 27.77 612.2 6.7 596.39 204.56

At March 31, 2023 27.77 669.68 4.77 692.49 238.76

Table is continue..

(Rs. in crores)

Right of use asset Total Capital Work in progress Grand Total

Leasehold Land Leasehold Buildings

228.28 182.5 2,653.13 86.26 2,739.39

1.87 132.69 410.91 243.32 654.23

- - -3.72 - -3.72

- -13.13 -40.89 -272.83 -313.72

230.15 302.06 3,019.43 56.75 3,076.18

1.34 51.86 507.11 514.87 1,021.98

- - - - -

- -8.85 -75.1 -408.2 -483.3

162
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

231.49 345.07 3,451.44 163.42 3,614.86

3.71 59.61 792.3 - 792.3

2.53 39.24 233.87 - 233.87

- -6.54 -28.19 - -28.19

6.24 92.31 997.98 - 997.98

2.54 48.07 270.04 - 270.04

- -4.63 -44.43 - -44.43

8.78 135.75 1,223.59 - 1,223.59

224.57 122.89 1,860.83 86.26 1,947.09

223.91 209.75 2,021.45 56.75 2,078.20

222.71 209.32 2,227.85 163.42 2,391.27

*Disposal includes assets held for sale amounting to 10.53 crores (March 31, 2022 Rs 0.73 Crores), and includes transfers in
relation to Capital work in progress.

Notes: -

(i)Right of Use asset includes:-

(a)Leasehold Land" represents land obtained on long term lease from various Government authorities.

(b)Leasehold Buildings represent properties taken on lease for its offices and warehouses accounted for in accordance with
principle of Ind AS 116 'Leases' . Refer Note 31(2)

(ii)Capital work in progress as at March 31, 2023 includes assets under construction at various plants including air
conditioning plant,washing machine , cable and flexible cable, lighting and fixtures etc. Adjustment in relation to capital work
in progress relates to addition in property, plant and equipment made during the year.

(iii)Disclosure of Contractual commitment for the acquisition of property plant and equipment has been provided in note
30(B).

163
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(iv)The grant related to assets incudes:

(a)Subsidy of Rs Nil (March 31,2022 Rs 3.72 core) on account of Modified Special Incentive Package (MSIP) scheme for
making capital investment at Ghiloth District, General Zone Industrial Area RIICO in the state of Rajasthan.

(v)The Group has not revalued its Property Plant and Equipment (Including Right of use assets) or Intangible assets during
the year

(vi)Net Block as on July 27, 2022 has been recognised as Exceptional Item in the Current year towards loss on account of
fire at Neemrana plant of the Group for the following item. Refer note 31(13)

Furniture Capital
Plant and Moulds R&D Office Electrical Grand
Particulars and Work in
Equipments and Dies Equipments Equipments Installations Total
fixtures progress

Gross carrying
17.9 0.59 3.05 0.04 2.13 1.32 0.55 25.58
amount ( at cost)

Accumulated
-6.72 -0.46 -1.56 -0.02 -1.76 -0.89 -11.41
Depreciation

Net Block - July

11.18 0.13 1.49 0.02 0.37 0.43 0.55 14.17
27,2022

(vii) Capital work-in-progress ("CWIP")

Ageing schedule

(Rs in
As at March 31, 2023
crores)

Amount in CWIP for a

Capital Work in progress Total
period of

1-2 2-3 More Than 3

Less than 1 year
years years Year

Projects in progress 163.42 - - - 163.42

Projects temporarily suspended - - - - -

(Rs. in
As at March 31, 2022
crores)

Amount in CWIP for a

Capital Work in progress Total
period of

1-2 2-3 More Than 3

Less than 1 year
years years Year

164
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Projects in progress 53.58 3.17 - - 56.75

Projects temporarily suspended - - - - -

Note:There are no projects under Capital Work in progress where the completion is overdue or has exceeded its cost
compared to its original plan.

(viii)Title deeds of Immovable Property not held in the name of the Group

Whether title deed

Relevant Gross holder is a Property
line item in Description carrying Title deeds promoter, director or held
Reason for Immovable Property
the of item of value held in the relative of since
not held in the name of Group
Balance property (Rs in name of promoter/director or which
Sheet crores) employee of date
promoter/director

The possession and original

Late Shri
agreement to sell, of the property
Qimat Rai
Property, Freehold is in the name of Group. The title
Gupta, on Erstwhile Promoter/ March
plant and land in 15.89 deeds will be registered in the
behalf of M/s Director 31, 2011
equipment Delhi name of the Group once state
Guptajee &
government's policy on registry
Co.
is changed.

The possession and original

agreement to sell, of the property
Property, is in the name of Group. The
Building In Shakereh April 01,
plant and 0.04 No Group is taking adequate legal
Bengaluru Shraddhanand 2012
equipment steps to get the title deeds
registered with appropriate
authority,

(ix) Property where Group is a lessee but

agreements are not executed

Gross Net Net

Description of Title deeds held
Relevant line item in the Balance Sheet carrying Carrying Lease
item of property in the name of
value value liabillity

Building in QRG Enterprises

Property, plant and equipment 43.2 39.44 41.82
Sahibabad Limited

Building in QRG Enterprises

Property, plant and equipment 96.79 82.29 86.93
Noida Limited

Table is continue

(Rs in crores)

Whether title deed holder is a promoter, Property

director or relative of promoter/director or held since Reason for lease agreement not executed with the Group
employee of promoter/director which date

165
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Rent is being paid based on the mutual understanding and

August 01,
Promoter till 12 Oct 2022 refer note 31(5) the monthly invoice for usage charges raised by QRG
2007
Enterprises refer note 31(5)

Rent is being paid based on the mutual understanding and

July 01,
Promoter till 12 Oct 2022 refer note 31(5) the monthly invoice for usage charges raised by QRG
2008
Enterprises refer note 31(5)

166
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (9)

Disclosure of property, plant and equipment [Text Block]

Note 3 : Property, plant and equipment

Leasehold Plant and Moulds

Particulars Freehold Land Buildings
Improvements Machinery and Dies

Gross carrying amount (at cost)

At April 01, 2021 27.28 775.08 13.16 859.19 295.45

Additions 0.5 16.37 2.02 129.51 79.45

Recognition of grant related to assets

-0.47 - -1.59 -1.41
Refer note 3 (iv) -

Disposals/Adjustments * -0.01 -1.09 -0.06 -11.2 -1.31

At March 31, 2022 27.77 789.89 15.12 975.91 372.18

Additions 95.11 0.03 200.51 97.65

-

Recognition of grant related to assets - - - -

-

Disposals/adjustments * -9.5 -1.1 -28.77 -13.41

-

At March 31, 2023 27.77 875.5 14.05 1,147.65 456.42

Accumulated Depreciation

At April 01, 2021 148.57 6.86 309.93 119.85

-

Charge for the year 29.93 1.6 76.52 48.85

-

Disposals/adjustments -0.81 -0.04 -6.93 -1.08

-

167
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

At March 31, 2022 177.69 8.42 379.52 167.62

-

Charge for the year 30.88 1.81 90.18 61.37

-

Disposals/adjustments -2.75 -0.95 -14.54 -11.33

-

At March 31, 2023 205.82 9.28 455.16 217.66

-

Net carrying amount

At April 01, 2021 27.28 626.51 6.3 549.26 175.6

At March 31, 2022 27.77 612.2 6.7 596.39 204.56

At March 31, 2023 27.77 669.68 4.77 692.49 238.76

Table is continue..

(Rs. in crores)

Right of use asset Total Capital Work in progress Grand Total

Leasehold Land Leasehold Buildings

228.28 182.5 2,653.13 86.26 2,739.39

1.87 132.69 410.91 243.32 654.23

- - -3.72 - -3.72

- -13.13 -40.89 -272.83 -313.72

230.15 302.06 3,019.43 56.75 3,076.18

1.34 51.86 507.11 514.87 1,021.98

- - - - -

- -8.85 -75.1 -408.2 -483.3

168
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

231.49 345.07 3,451.44 163.42 3,614.86

3.71 59.61 792.3 - 792.3

2.53 39.24 233.87 - 233.87

- -6.54 -28.19 - -28.19

6.24 92.31 997.98 - 997.98

2.54 48.07 270.04 - 270.04

- -4.63 -44.43 - -44.43

8.78 135.75 1,223.59 - 1,223.59

224.57 122.89 1,860.83 86.26 1,947.09

223.91 209.75 2,021.45 56.75 2,078.20

222.71 209.32 2,227.85 163.42 2,391.27

*Disposal includes assets held for sale amounting to 10.53 crores (March 31, 2022 Rs 0.73 Crores), and includes transfers in
relation to Capital work in progress.

Notes: -

(i)Right of Use asset includes:-

(a)Leasehold Land" represents land obtained on long term lease from various Government authorities.

(b)Leasehold Buildings represent properties taken on lease for its offices and warehouses accounted for in accordance with
principle of Ind AS 116 'Leases' . Refer Note 31(2)

(ii)Capital work in progress as at March 31, 2023 includes assets under construction at various plants including air
conditioning plant,washing machine , cable and flexible cable, lighting and fixtures etc. Adjustment in relation to capital work
in progress relates to addition in property, plant and equipment made during the year.

(iii)Disclosure of Contractual commitment for the acquisition of property plant and equipment has been provided in note
30(B).

169
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(iv)The grant related to assets incudes:

(a)Subsidy of Rs Nil (March 31,2022 Rs 3.72 core) on account of Modified Special Incentive Package (MSIP) scheme for
making capital investment at Ghiloth District, General Zone Industrial Area RIICO in the state of Rajasthan.

(v)The Group has not revalued its Property Plant and Equipment (Including Right of use assets) or Intangible assets during
the year

(vi)Net Block as on July 27, 2022 has been recognised as Exceptional Item in the Current year towards loss on account of
fire at Neemrana plant of the Group for the following item. Refer note 31(13)

Furniture Capital
Plant and Moulds R&D Office Electrical Grand
Particulars and Work in
Equipments and Dies Equipments Equipments Installations Total
fixtures progress

Gross carrying
17.9 0.59 3.05 0.04 2.13 1.32 0.55 25.58
amount ( at cost)

Accumulated
-6.72 -0.46 -1.56 -0.02 -1.76 -0.89 -11.41
Depreciation

Net Block - July

11.18 0.13 1.49 0.02 0.37 0.43 0.55 14.17
27,2022

(vii) Capital work-in-progress ("CWIP")

Ageing schedule

(Rs in
As at March 31, 2023
crores)

Amount in CWIP for a

Capital Work in progress Total
period of

1-2 2-3 More Than 3

Less than 1 year
years years Year

Projects in progress 163.42 - - - 163.42

Projects temporarily suspended - - - - -

(Rs. in
As at March 31, 2022
crores)

Amount in CWIP for a

Capital Work in progress Total
period of

1-2 2-3 More Than 3

Less than 1 year
years years Year

170
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Projects in progress 53.58 3.17 - - 56.75

Projects temporarily suspended - - - - -

Note:There are no projects under Capital Work in progress where the completion is overdue or has exceeded its cost
compared to its original plan.

(viii)Title deeds of Immovable Property not held in the name of the Group

Whether title deed

Relevant Gross holder is a Property
line item in Description carrying Title deeds promoter, director or held
Reason for Immovable Property
the of item of value held in the relative of since
not held in the name of Group
Balance property (Rs in name of promoter/director or which
Sheet crores) employee of date
promoter/director

The possession and original

Late Shri
agreement to sell, of the property
Qimat Rai
Property, Freehold is in the name of Group. The title
Gupta, on Erstwhile Promoter/ March
plant and land in 15.89 deeds will be registered in the
behalf of M/s Director 31, 2011
equipment Delhi name of the Group once state
Guptajee &
government's policy on registry
Co.
is changed.

The possession and original

agreement to sell, of the property
Property, is in the name of Group. The
Building In Shakereh April 01,
plant and 0.04 No Group is taking adequate legal
Bengaluru Shraddhanand 2012
equipment steps to get the title deeds
registered with appropriate
authority,

(ix) Property where Group is a lessee but

agreements are not executed

Gross Net Net

Description of Title deeds held
Relevant line item in the Balance Sheet carrying Carrying Lease
item of property in the name of
value value liabillity

Building in QRG Enterprises

Property, plant and equipment 43.2 39.44 41.82
Sahibabad Limited

Building in QRG Enterprises

Property, plant and equipment 96.79 82.29 86.93
Noida Limited

Table is continue

(Rs in crores)

Whether title deed holder is a promoter, Property

director or relative of promoter/director or held since Reason for lease agreement not executed with the Group
employee of promoter/director which date

171
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Rent is being paid based on the mutual understanding and

August 01,
Promoter till 12 Oct 2022 refer note 31(5) the monthly invoice for usage charges raised by QRG
2007
Enterprises refer note 31(5)

Rent is being paid based on the mutual understanding and

July 01,
Promoter till 12 Oct 2022 refer note 31(5) the monthly invoice for usage charges raised by QRG
2008
Enterprises refer note 31(5)

[612100] Notes - Impairment of assets

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of impairment of assets [TextBlock]
Disclosure of impairment loss and reversal of impairment loss [TextBlock]
Whether there is any impairment loss or reversal of impairment loss
No No
during the year
Disclosure of information for impairment loss recognised or reversed
for individual Assets or cash-generating unit [TextBlock]
Whether impairment loss recognised or reversed for individual Assets
No No
or cash-generating unit

[400700] Notes - Investment property

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of investment property [TextBlock]
Depreciation method, investment property, cost model NA NA
Useful lives or depreciation rates, investment property, cost model NA NA

[400800] Notes - Goodwill

Disclosure of reconciliation of changes in goodwill [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Carrying amount accumulated amortization and impairment and
Carrying amount [Member] Gross carrying amount [Member]
gross carrying amount [Axis]
01/04/2022 01/04/2021
31/03/2023 31/03/2022 to to
31/03/2023 31/03/2022
Disclosure of goodwill [TextBlock]
Disclosure of reconciliation of changes in goodwill
[Abstract]
Disclosure of reconciliation of changes in goodwill
[Line items]
Changes in goodwill [Abstract]
Acquisitions through business combinations,
0 0
goodwill
Total increase (decrease) in goodwill 0 0
Goodwill at end of period 310.47 310.47 310.47 310.47

172
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of reconciliation of changes in goodwill [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Carrying amount accumulated amortization and impairment and Gross carrying
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of goodwill [TextBlock]
Disclosure of reconciliation of changes in goodwill
[Abstract]
Disclosure of reconciliation of changes in goodwill
[Line items]
Changes in goodwill [Abstract]
Total increase (decrease) in goodwill 0 0
Goodwill at end of period 310.47 0 0 0

Unless otherwise specified, all monetary values are in Crores of INR

31/03/2023 31/03/2022
Disclosure of goodwill [TextBlock]
Disclosure of reconciliation of changes in goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill [Line items]
Changes in goodwill [Abstract]
Acquisitions through business combinations, goodwill
Total increase (decrease) in goodwill
Goodwill at end of period 310.47 310.47

[400900] Notes - Other intangible assets

Disclosure of detailed information about other intangible assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2021
01/04/2022 01/04/2022
to 31/03/2021 to
to
31/03/2023 31/03/2023
31/03/2022
Textual information (10) [See
Disclosure of other intangible assets [TextBlock] below]
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
6.77 10.61 6.77
combinations
Amortisation other intangible assets -26.13 -27.02
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 1.03 0
Total Disposals and retirements,
0 1.03 0
Other intangible assets
Total increase (decrease) in Other
-19.36 -17.44 6.77
intangible assets
Other intangible assets at end of period 1,082.33 1,101.69 1,119.13 1,240.85

173
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
10.61
combinations
Amortisation other intangible assets 26.13 27.02
Disposals and retirements, other
intangible assets [Abstract]
Disposals 9.81 8.78
Total Disposals and retirements,
9.81 8.78
Other intangible assets
Total increase (decrease) in Other
0.8 26.13 18.24
intangible assets
Other intangible assets at end of period 1,234.08 1,233.28 158.52 132.39

Disclosure of detailed information about other intangible assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Company other
Classes of other intangible assets [Axis] intangible assets Brands and trade marks [Member]
[Member]
Internally
generated and
other than
Internally generated and other than internally generated
Sub classes of other intangible assets [Axis] internally
intangible assets [Member]
generated
intangible assets
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 114.15 1,029 1,029 1,029

174
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 1,029 1,029 1,029 0

Disclosure of detailed information about other intangible assets [Table] ..(5)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member]
Internally generated and other than
Intangible assets other than internally
Sub classes of other intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 0 0 1,029 1,029

Disclosure of detailed information about other intangible assets [Table] ..(6)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Gross carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 1,029 1,029 1,029 1,029

175
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(7)

Unless otherwise specified, all monetary values are in Crores of INR
Trade marks
Classes of other intangible assets [Axis] Brands and trade marks [Member]
[Member]
Internally
generated and
other than
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member] internally
generated
intangible assets
[Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 0 0 0 1,029

Disclosure of detailed information about other intangible assets [Table] ..(8)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Trade marks [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and
Carrying amount [Member] Gross carrying amount [Member]
gross carrying amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 1,029 1,029 1,029 1,029

176
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(9)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Trade marks [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 1,029 0 0 0

Disclosure of detailed information about other intangible assets [Table] ..(10)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Trade marks [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 1,029 1,029 1,029 1,029

Disclosure of detailed information about other intangible assets [Table] ..(11)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Trade marks [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 1,029 1,029 0 0

177
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(12)

Unless otherwise specified, all monetary values are in Crores of INR
Trade marks
Classes of other intangible assets [Axis] Computer software [Member]
[Member]
Intangible assets
other than
Internally generated and other than internally generated
Sub classes of other intangible assets [Axis] internally
intangible assets [Member]
generated
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
6.77 10.61
combinations
Amortisation other intangible assets -7.47 -8.36
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 1.03
Total Disposals and retirements,
0 1.03
Other intangible assets
Total increase (decrease) in Other
-0.7 1.22
intangible assets
Other intangible assets at end of period 0 22.53 23.23 22.01

Disclosure of detailed information about other intangible assets [Table] ..(13)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Computer software [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
6.77 10.61
combinations
Amortisation other intangible assets 7.47
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 9.81
Total Disposals and retirements,
0 9.81
Other intangible assets
Total increase (decrease) in Other
6.77 0.8 7.47
intangible assets
Other intangible assets at end of period 70.95 64.18 63.38 48.42

178
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(14)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Computer software [Member]
Internally generated and other than
Intangible assets other than internally
Sub classes of other intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
6.77 10.61
combinations
Amortisation other intangible assets 8.36 -7.47 -8.36
Disposals and retirements, other
intangible assets [Abstract]
Disposals 8.78 0 1.03
Total Disposals and retirements,
8.78 0 1.03
Other intangible assets
Total increase (decrease) in Other
-0.42 -0.7 1.22
intangible assets
Other intangible assets at end of period 40.95 41.37 22.53 23.23

Disclosure of detailed information about other intangible assets [Table] ..(15)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Computer software [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Gross carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
(A) 6.77 10.61
combinations
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 9.81
Total Disposals and retirements,
0 9.81
Other intangible assets
Total increase (decrease) in Other
6.77 0.8
intangible assets
Other intangible assets at end of period 22.01 70.95 64.18 63.38

(A)
Particulars 2022-23

Computer Software 2.88

R & D Software 3.89

179
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(16)

Unless otherwise specified, all monetary values are in Crores of INR
Other intangible
Classes of other intangible assets [Axis] Computer software [Member]
assets [Member]
Internally
generated and
other than
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member] internally
generated
intangible assets
[Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets (A) 7.47 8.36 -18.66
Disposals and retirements, other
intangible assets [Abstract]
Disposals 8.78
Total Disposals and retirements,
8.78
Other intangible assets
Total increase (decrease) in Other
7.47 -0.42 -18.66
intangible assets
Other intangible assets at end of period 48.42 40.95 41.37 30.8

(A)
Particulars 2022-23

Computer Software 5.75

R & D Software 1.72

Disclosure of detailed information about other intangible assets [Table] ..(17)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and
Carrying amount [Member] Gross carrying amount [Member]
gross carrying amount [Axis]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets -18.66
Total increase (decrease) in Other
-18.66 0 0
intangible assets
Other intangible assets at end of period 49.46 68.12 140.9 140.9

180
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(18)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets 18.66 18.66
Total increase (decrease) in Other
18.66 18.66
intangible assets
Other intangible assets at end of period 140.9 110.1 91.44 72.78

Disclosure of detailed information about other intangible assets [Table] ..(19)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Other intangible assets [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets -18.66 -18.66
Total increase (decrease) in Other
-18.66 -18.66 0
intangible assets
Other intangible assets at end of period 30.8 49.46 68.12 140.9

Disclosure of detailed information about other intangible assets [Table] ..(20)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Other intangible assets [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets 18.66 18.66
Total increase (decrease) in Other
0 18.66 18.66
intangible assets
Other intangible assets at end of period 140.9 140.9 110.1 91.44

181
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(21)

Unless otherwise specified, all monetary values are in Crores of INR
Other intangible
Classes of other intangible assets [Axis] Other intangible assets, others [Member]
assets [Member]
Intangible assets
other than
Internally generated and other than internally generated
Sub classes of other intangible assets [Axis] internally
intangible assets [Member]
generated
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Nature of other intangible assets others Refer to child member Refer to child member
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets -18.66 -18.66
Total increase (decrease) in Other
-18.66 -18.66
intangible assets
Other intangible assets at end of period 72.78 30.8 49.46 68.12

Disclosure of detailed information about other intangible assets [Table] ..(22)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Other intangible assets, others [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Refer to child
Nature of other intangible assets others Refer to child member Refer to child member
member
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets 18.66
Total increase (decrease) in Other
0 0 18.66
intangible assets
Other intangible assets at end of period 140.9 140.9 140.9 110.1

182
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(23)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Other intangible assets, others [Member]
Internally generated and other than
Intangible assets other than internally
Sub classes of other intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Distributor/ Dealer Distributor/ Dealer
Nature of other intangible assets others Refer to child member Network, Network,
Non-compete Fee Non-compete Fee
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets 18.66 -18.66 -18.66
Total increase (decrease) in Other
18.66 -18.66 -18.66
intangible assets
Other intangible assets at end of period 91.44 72.78 30.8 49.46

Disclosure of detailed information about other intangible assets [Table] ..(24)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Other intangible assets, others [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Gross carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Distributor/ Dealer
Distributor/ Dealer
Nature of other intangible assets others Network, Non-compete
Network, Non-compete Fee
Fee
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 68.12 140.9 140.9 140.9

183
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of detailed information about other intangible assets [Table] ..(25)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Other intangible assets, others [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and gross carrying
Accumulated amortization and impairment [Member]
amount [Axis]
01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of detailed information about other intangible assets
[TextBlock]
Disclosure of detailed information about other intangible assets
[Abstract]
Disclosure of detailed information about other intangible assets
[Line items]
Distributor/ Dealer
Distributor/ Dealer
Nature of other intangible assets others Network, Non-compete
Network, Non-compete Fee
Fee
Reconciliation of changes in other intangible assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets (A) 18.66 18.66
Total increase (decrease) in Other intangible assets 18.66 18.66
Other intangible assets at end of period 110.1 91.44 72.78

(A)
Particulars 2022-23

Distributor/ Dealer Network 10.3

Non-compete Fee 8.36

Disclosure of additional information about other intangible assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member] Trade marks [Member]
Internally generated and other than Internally generated and other than
Sub classes of other intangible assets [Axis] internally generated intangible assets internally generated intangible assets
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Refer to child Refer to child Refer to child Refer to child
Amortisation method, other intangible assets member member member member
Useful lives or amortisation rates, other Refer to child Refer to child Refer to child Refer to child
intangible assets member member member member
Whether other intangible assets are stated at
No No No No
revalued amount

184
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of additional information about other intangible assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Trade marks [Member] Computer software [Member]
Internally generated and other than
Intangible assets other than internally
Sub classes of other intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Refer to child Refer to child
Amortisation method, other intangible assets NA NA
member member
Useful lives or amortisation rates, other Refer to child Refer to child
An indefinite life An indefinite life
intangible assets member member
Whether other intangible assets are stated at
No No No No
revalued amount

Disclosure of additional information about other intangible assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Computer software [Member] Other intangible assets [Member]
Internally generated and other than
Intangible assets other than internally
Sub classes of other intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Straight line Refer to child Refer to child
Amortisation method, other intangible assets Method
Straight line Method
member member
Computer software Computer software -
Useful lives or amortisation rates, other Refer to child Refer to child
- 6 Years, R&D 6 Years, R&D
intangible assets member member
Software- 6 Years Software- 6 Years
Whether other intangible assets are stated at
No No No No
revalued amount

Disclosure of additional information about other intangible assets [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Know-how [Member]
Internally generated and other than
Intangible assets other than internally
Sub classes of other intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Refer to child Refer to child Straight line
Amortisation method, other intangible assets member member Method
Straight line Method

Useful lives or amortisation rates, other Refer to child Refer to child

6 Years 6 Years
intangible assets member member
Whether other intangible assets are stated at
No No No No
revalued amount

185
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of additional information about other intangible assets [Table] ..(5)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other intangible assets [Axis] Other intangible assets, others [Member]
Internally generated and other than
Intangible assets other than internally
Sub classes of other intangible assets [Axis] internally generated intangible assets
generated [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of detailed information about other
intangible assets [TextBlock]
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Refer to child Refer to child Straight line
Amortisation method, other intangible assets member member Method
Straight line Method
Distributor/ Dealer Distributor/ Dealer
Useful lives or amortisation rates, other Refer to child Refer to child Network-8 Years, Network-8 Years,
intangible assets member member Non-Compete Fee- Non-Compete Fee- 7
7 Years Years
Whether other intangible assets are stated at
No No No No
revalued amount

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (11)
Disclosure of other intangible assets [TextBlock] [See below]
Disclosure of detailed information about other intangible assets
[TextBlock]
Disclosure of intangible assets with indefinite useful life [TextBlock]
Whether there are intangible assets with indefinite useful life No No

186
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (10)

Disclosure of other intangible assets [Text Block]

Note 4 : Goodwill and other

Intangible assets

Computer Distributor/ Dealer

Particulars R & D Software Trademarks
Software Network

Gross carrying amount (at cost)

At April 01, 2021 53.72 9.66 1,029.00 82.4

Additions 8.7 1.91

- -

Disposals/adjustments -9.75 -0.06

- -

At March 31, 2022 52.67 11.51 1,029.00 82.4

Additions 2.88 3.89

- -

Disposals/adjustments
- - - -

At March 31, 2023 55.55 15.4 1,029.00 82.4

Accumulated amortization

At April 01, 2021 35.81 5.56 40.2

-

Charge for the year 6.93 1.43 10.3

-

Disposals/adjustments -8.74 -0.04

- -

At March 31, 2022 34 6.95 50.5

-

Charge for the year 5.75 1.72 10.3

-

187
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disposals/adjustments
- - - -

At March 31, 2023 39.75 8.67 60.8

-

Net carrying amount

At April 01, 2021 17.91 4.1 1,029.00 42.2

At March 31, 2022 18.67 4.56 1,029.00 31.9

At March 31, 2023 15.8 6.73 1,029.00 21.6

Table is continue..

(Rs.in crores)

Intangibles assets under Total Intangible

Non-compete Fee Total Goodwill
development Assets

Other Intangible
Assets

58.5 1,233.28 310.47 3.65 1,547.40

10.61 0.69 11.3

- -

-9.81 -3.88 -13.69

- -

58.5 1,234.08 310.47 0.46 1,545.01

6.77 2.99 9.76

- -

- -0.46 -0.46
- -

58.5 1,240.85 310.47 2.99 1,554.31

188
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

32.58 114.15 - 114.15

-

8.36 27.02 - 27.02

-

-8.78 - -8.78
- -

40.94 132.39 - 132.39

-

8.36 26.13 - 26.13

-

- - -
- -

49.3 158.52 - 158.52

-

25.92 1,119.13 310.47 3.65 1,433.25

17.56 1,101.69 310.47 0.46 1,412.62

9.2 1,082.33 310.47 2.99 1,395.79

Note:-

Impairment testing of goodwill and intangible assets with indefinite lives

Goodwill and Brand & Trademarks acquired on acquisition of Lloyd business having indefinite useful lives have been
allocated to a separate single cash generating unit (CGU) i.e. LLOYD consumers. The Group has performed an annual
impairment test to ascertain the recoverable amount of such goodwill and intangible assets. The recoverable amount is
determined based on value in use calculation. These calculations uses management assumptions and pre tax cash flow
projections based on financed budgets approved by management covering a 5 years period. Cash flow projection beyond 5
years time period are extrapolated using the estimated growth rates which is consistent with forecasts included in industry
reports specific to industry in which CGU operates. Management has determined following assumptions for impairment
testing of CGU as stated Below :-

March
Assumption 31, Approach used in determining value
2023

Weighted average Cost of capital % It has been determined basis risk free rate of return adjusted for equity

189
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(WACC) before tax (discount rate) 15.30% risk premium.

Long term growth rate has been taken basis on overall economic
Long Term Growth Rate 5.00%
growth rate, industry trend & expected long-term inflation in india.

Management determined budgeted gross margin based on past performance and its expectations of market development.
The weighted average growth rates used are consistent with the forecasts included in industry reports. The calculations
performed indicate that there is no impairment of GGU of the Group. Management has performed a sensitivity analysis with
respect to changes in assumptions for assessment of value-in-use of CGU. Based on this analysis, management believes
that change in any of above assumption would not cause any material possible change in carrying value of unit's CGU over
and above its recoverable amount.

Intangible assets under development

As at 31 March 2023

Intangible assets Amount in intangible assets

under under development for a Total
development period of

More Than 3
Less than 1 year 1-2 years 2-3 years
Year

Projects in
2.99 2.99
progress - - -

Projects
temporarily -
- - - -
suspended

As at 31 March (Rs in
2022 crores)

Intangible assets Amount in intangible assets

under under development for a Total
development period of

More Than 3
Less than 1 year 1-2 years 2-3 years
Year

Projects in
0.46 0.46
progress - - -

Projects
temporarily -
- - - -
suspended

190
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Note: There are no projects under Intangible assets under development where the completion is overdue or has exceeded its
cost compared to its original plan.

191
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (11)

Disclosure of other intangible assets [Text Block]

Note 4 : Goodwill and other

Intangible assets

Computer Distributor/ Dealer

Particulars R & D Software Trademarks
Software Network

Gross carrying amount (at cost)

At April 01, 2021 53.72 9.66 1,029.00 82.4

Additions 8.7 1.91

- -

Disposals/adjustments -9.75 -0.06

- -

At March 31, 2022 52.67 11.51 1,029.00 82.4

Additions 2.88 3.89

- -

Disposals/adjustments
- - - -

At March 31, 2023 55.55 15.4 1,029.00 82.4

Accumulated amortization

At April 01, 2021 35.81 5.56 40.2

-

Charge for the year 6.93 1.43 10.3

-

Disposals/adjustments -8.74 -0.04

- -

At March 31, 2022 34 6.95 50.5

-

Charge for the year 5.75 1.72 10.3

-

192
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disposals/adjustments
- - - -

At March 31, 2023 39.75 8.67 60.8

-

Net carrying amount

At April 01, 2021 17.91 4.1 1,029.00 42.2

At March 31, 2022 18.67 4.56 1,029.00 31.9

At March 31, 2023 15.8 6.73 1,029.00 21.6

Table is continue..

(Rs.in crores)

Intangibles assets under Total Intangible

Non-compete Fee Total Goodwill
development Assets

Other Intangible
Assets

58.5 1,233.28 310.47 3.65 1,547.40

10.61 0.69 11.3

- -

-9.81 -3.88 -13.69

- -

58.5 1,234.08 310.47 0.46 1,545.01

6.77 2.99 9.76

- -

- -0.46 -0.46
- -

58.5 1,240.85 310.47 2.99 1,554.31

193
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

32.58 114.15 - 114.15

-

8.36 27.02 - 27.02

-

-8.78 - -8.78
- -

40.94 132.39 - 132.39

-

8.36 26.13 - 26.13

-

- - -
- -

49.3 158.52 - 158.52

-

25.92 1,119.13 310.47 3.65 1,433.25

17.56 1,101.69 310.47 0.46 1,412.62

9.2 1,082.33 310.47 2.99 1,395.79

Note:-

Impairment testing of goodwill and intangible assets with indefinite lives

Goodwill and Brand & Trademarks acquired on acquisition of Lloyd business having indefinite useful lives have been
allocated to a separate single cash generating unit (CGU) i.e. LLOYD consumers. The Group has performed an annual
impairment test to ascertain the recoverable amount of such goodwill and intangible assets. The recoverable amount is
determined based on value in use calculation. These calculations uses management assumptions and pre tax cash flow
projections based on financed budgets approved by management covering a 5 years period. Cash flow projection beyond 5
years time period are extrapolated using the estimated growth rates which is consistent with forecasts included in industry
reports specific to industry in which CGU operates. Management has determined following assumptions for impairment
testing of CGU as stated Below :-

March
Assumption 31, Approach used in determining value
2023

Weighted average Cost of capital % It has been determined basis risk free rate of return adjusted for equity

194
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(WACC) before tax (discount rate) 15.30% risk premium.

Long term growth rate has been taken basis on overall economic
Long Term Growth Rate 5.00%
growth rate, industry trend & expected long-term inflation in india.

Management determined budgeted gross margin based on past performance and its expectations of market development.
The weighted average growth rates used are consistent with the forecasts included in industry reports. The calculations
performed indicate that there is no impairment of GGU of the Group. Management has performed a sensitivity analysis with
respect to changes in assumptions for assessment of value-in-use of CGU. Based on this analysis, management believes
that change in any of above assumption would not cause any material possible change in carrying value of unit's CGU over
and above its recoverable amount.

Intangible assets under development

As at 31 March 2023

Intangible assets Amount in intangible assets

under under development for a Total
development period of

More Than 3
Less than 1 year 1-2 years 2-3 years
Year

Projects in
2.99 2.99
progress - - -

Projects
temporarily -
- - - -
suspended

As at 31 March (Rs in
2022 crores)

Intangible assets Amount in intangible assets

under under development for a Total
development period of

More Than 3
Less than 1 year 1-2 years 2-3 years
Year

Projects in
0.46 0.46
progress - - -

Projects
temporarily -
- - - -
suspended

195
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Note: There are no projects under Intangible assets under development where the completion is overdue or has exceeded its
cost compared to its original plan.

[401000] Notes - Biological assets other than bearer plants

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of biological assets, agriculture produce at point of
harvest and government grants related to biological assets
[TextBlock]
Depreciation method, biological assets other than bearer plants, at cost NA NA
Useful lives or depreciation rates, biological assets other than bearer
NA NA
plants, at cost

[611100] Notes - Financial instruments

Disclosure of financial assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Financial assets at amortised cost, class
Classes of financial assets [Axis] Trade receivables [Member]
[Member]
Categories of financial assets [Axis] Financial assets, category [Member] Financial assets, category [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial assets [TextBlock]
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 3,046.57 3,743.01 975.53 768.93
Financial assets, at fair value 0 0 0 0
Description of other financial assets at Refer to child Refer to child Refer to child Refer to child
amortised cost class member member member member

Disclosure of financial assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Other financial assets at amortised cost
Classes of financial assets [Axis] Trade receivables [Member]
class [Member]
Financial assets at amortised cost,
Categories of financial assets [Axis] Financial assets, category [Member]
category [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial assets [TextBlock]
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 975.53 768.93 2,071.04 2,974.08
Financial assets, at fair value 0 0 0 0
Description of other financial assets at Refer to child Refer to child
Trade Receivables Trade Receivables
amortised cost class member member

196
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of financial assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of financial assets [Axis] Other financial assets at amortised cost class 1 [Member]
Financial assets at amortised cost,
Categories of financial assets [Axis] Financial assets, category [Member]
category [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial assets [TextBlock]
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 1,870.17 2,547.98 1,870.17 2,547.98
Financial assets, at fair value 0 0 0 0
Description of other financial assets at Refer to child Refer to child Cash and bank Cash and bank
amortised cost class member member balances (Current) balances (Current)

Disclosure of financial assets [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of financial assets [Axis] Other financial assets at amortised cost class 2 [Member]
Financial assets at amortised cost,
Categories of financial assets [Axis] Financial assets, category [Member]
category [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial assets [TextBlock]
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 200.87 426.1 200.87 426.1
Financial assets, at fair value 0 0 0 0
Investment with
Description of other financial assets at Refer to child Refer to child Investment with
financial
amortised cost class member member financial institutions
institutions

Disclosure of financial assets [Table] ..(5)

Unless otherwise specified, all monetary values are in Crores of INR
Financial assets at fair value, class Other financial assets at fair value class
Classes of financial assets [Axis]
[Member] [Member]
Categories of financial assets [Axis] Financial assets, category [Member] Financial assets, category [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial assets [TextBlock]
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 0 0 0 0
Financial assets, at fair value 265.97 72.07 265.97 72.07
Description of other financial assets at Refer to child Refer to child
amortised cost class member member
Description of other financial assets at fair Refer to child Refer to child Refer to child Refer to child
value class member member member member

Disclosure of financial assets [Table] ..(6)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of financial assets [Axis] Other financial assets at fair value class 1 [Member]
Financial assets at amortised cost,
Categories of financial assets [Axis] Financial assets, category [Member]
category [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial assets [TextBlock]
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 0 0 0 0
Financial assets, at fair value 149.08 42.18 149.08 42.18
Description of other financial assets at Refer to child
0
amortised cost class member
Description of other financial assets at fair Refer to child Refer to child Other Financial Other Financial
value class member member assets (Non-current) assets (Non-current)

197
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of financial assets [Table] ..(7)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of financial assets [Axis] Other financial assets at fair value class 2 [Member]
Financial assets at amortised cost,
Categories of financial assets [Axis] Financial assets, category [Member]
category [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial assets [TextBlock]
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 0 0 0 0
Financial assets, at fair value 116.89 29.89 116.89 29.89
Description of other financial assets at Refer to child
0
amortised cost class member
Other Financial Other Financial
Description of other financial assets at fair Refer to child Refer to child Assets (Current)and Assets (Current)and
value class member member Other financial Other financial assets
assets (non-current) (non-current)

Disclosure of financial liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of financial liabilities [Axis] Financial liabilities at amortised cost, class [Member]
Financial liabilities at amortised cost,
Categories of financial liabilities [Axis] Financial liabilities, category [Member]
category [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial liabilities [TextBlock]
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 2,643.19 2,380.02 (A) 2,643.19 (B) 2,380.02
Financial liabilities, at fair value 0 0 0 0

Footnotes
(A)
Particulars 2022-23

Trade Payables 2643.19

(B)
Particulars 2021-22

Trade Payables 2380.02

Disclosure of financial liabilities [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of financial liabilities [Axis] Financial liabilities at fair value, class [Member]
Financial liabilities at amortised cost,
Categories of financial liabilities [Axis] Financial liabilities, category [Member]
category [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of financial liabilities [TextBlock]
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 855.16 1,248.46 (A) 855.16 (B) 1,248.46
Financial liabilities, at fair value 0 0 0 0

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Footnotes
(A)
Particulars 2022-23

Lease Liability (current and non current) 223.1

Other financial liabilities (non-current) 7.21

Other financial liabilities (current) 624.85

(B)
Particulars 2021-22

Borrowings (current and non-current) 395.53

Lease Liability (current and non current) 220.87

Other financial liabilities (non-current) 7.21

Other financial liabilities (current) 624.85

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022
to
31/03/2023
Textual information (12)
Disclosure of financial instruments [TextBlock] [See below]
Disclosure of financial assets [TextBlock]
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets
Financial assets, at fair value
Description of other financial assets at amortised cost class
Description of other financial assets at fair value class
Disclosure of financial liabilities [TextBlock]
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities
Financial liabilities, at fair value
Disclosure of credit risk [TextBlock]
Disclosure of reconciliation of changes in loss allowance and
explanation of changes in gross carrying amount for financial
instruments [TextBlock]
Disclosure of reconciliation of changes in loss allowance
and explanation of changes in gross carrying amount for
financial instruments [Abstract]
Disclosure of reconciliation of changes in loss
allowance and explanation of changes in gross
carrying amount for financial instruments [Line
items]
Disclosure of credit risk exposure [TextBlock]
Disclosure of credit risk exposure [Abstract]
Disclosure of credit risk exposure [Line items]
Financial assets
Disclosure of provision matrix [TextBlock]
Disclosure of provision matrix [Abstract]
Disclosure of provision matrix [Line items]
Financial assets
Disclosure of financial instruments by type of interest rate [TextBlock]
Disclosure of financial instruments by type of interest rate [Abstract]
Disclosure of financial instruments by type of interest rate [Line
items]
Financial assets
Financial liabilities

199
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (12)

Disclosure of financial instruments [Text Block]

8 Fair value measurements

Set out below, is a comparison by class of the carrying amounts and fair value of the Group’s financial instruments:

(Rs. In crores)

Carrying Value Fair Value

As at As at As at As at

March 31, 2023 March 31,2022 March 31, 2023 March 31,2022

Financial instruments by category

Financial assets valued at amortized cost

Investments with financial institution 200.87 426.1 200.87 426.1

Cash and bank balances (Current) 1,870.17 2,547.98 1,870.17 2,547.98

Trade Receivables 975.53 768.93 975.53 768.93

Other Financial assets (Current) 116.89 29.89 116.89 29.89

Other Financial assets (Non-current) 149.08 42.18 149.08 42.18

3,312.54 3,815.08 3,312.54 3,815.08

Financial Liabilities valued at amortized cost

Trade Payables 2,643.19 2,380.02 2,643.19 2,380.02

Borrowings (current and non-current) - 395.53 - 395.53

Lease Liability (current and non current) 223.1 220.87 223.1 220.87

Other financial liabilities (non-current) 7.21 3.96 7.21 3.96

Other financial liabilities (current) 624.85 525.48 624.85 525.48

3,498.35 3,525.86 3,498.35 3,525.86

200
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

The management assessed that cash and cash equivalents, trade receivables, trade payables, other current financial assets
and other current financial liabilities approximate their carrying amounts largely due to the short-term maturities of these
instruments.

The fair value of the other financial assets and liabilities is included at the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods
and assumptions were used to estimate the fair values:

The fair value of unquoted instruments, other non-current financial assets and non-current financial liabilities is estimated
by discounting future cash flows (DCF model) using rates currently available for debt on similar terms, credit risk and
1) remaining maturities. The valuation requires management to use unobservable inputs in the model, of which the
significant unobservable inputs are disclosed in the tables below. Management regularly assesses a range of reasonably
possible alternatives for those significant unobservable inputs and determines their impact on the total fair value.

The fair values of the Group’s interest-bearing borrowings are determined by using DCF method using discount rate that
2) reflects the issuer’s borrowing rate as at the end of the reporting period . The own non-performance risk as at 31 March
2023 was assessed to be insignificant.

Long-term receivables/payables are evaluated by the Group based on parameters such as interest rates, risk factors,
3) individual creditworthiness of the counterparty and the risk characteristics of the financed project. Based on this
evaluation, allowances are taken into account for the expected credit losses of these receivables.

4) Fair value hierarchy

The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation
technique:

Level 1: The fair value of financial instruments traded in active markets is based on quoted (unadjusted) market prices at
the end of the reporting period for identical assets or liabilities

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates.
If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in
level 3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level
3.

There are no transfers among levels 1, 2 and 3 during the year.

This section explains the judgement and estimates made in determining the fair value of financial assets that are:

a) Recognised and measured at Fair value

b) Measured at amortised cost and for which fair value is disclosed in financial statements

Quantitative disclosures of fair value measurement hierarchy for assets as on March 31, 2023

201
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Carrying Value Fair Value

March 31, 2023 Level 1 Level 2 Level 3

Assets carried at amortized cost for which fair value are disclosed

Other Financial assets (Non-current) 149.08 - - 149.08

Other Financial assets (Current) 116.89 - - 116.89

Liabilities carried at amortized cost for which fair value are disclosed

Borrowings (current and non-current) - - - -

Lease Liability (current and non current) 223.1 - - 223.1

Other financial liabilities (non-current) 7.21 - - 7.21

Other financial liabilities (current) 624.85 - - 624.85

Quantitative disclosures of fair value measurement hierarchy for assets as on March 31, 2022

Carrying Fair
Value Value

March 31, Level Level

Level 1
2022 2 3

Assets carried at amortized cost for which fair value are

disclosed

Other Financial assets (non-current) 42.18 - - 42.18

Other Financial assets (current) 29.89 - - 29.89

Liabilities carried at amortized cost for which fair value are

disclosed

Borrowings (non-current) 395.53 - - 395.53

Lease Liability (current and non current) 220.87 - - 220.87

202
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Other financial liabilities (non-current) 3.96 - - 3.96

Other financial liabilities (current) 525.48 - - 525.48

9 Financial risk management objectives and policies

The Group’s principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of
these financial liabilities is to finance the Group’s operations. The Group’s principal financial assets include trade and
other receivables, and cash and cash equivalents that are derived directly from its operations.

The Group's financial risk management is an integral part of how to plan and execute its business strategies. The Group
is exposed to market risk, credit risk and liquidity risk.

The Group is exposed to market risk, credit risk and liquidity risk. The Group's senior management oversees the
management of these risks. The senior professionals working to manage the financial risks and the appropriate financial
risk governance framework for the Group are accountable to the Board of Directors and Audit Committee. This process
provides assurance to Group's senior management that the Group's financial risk-taking activities are governed by
appropriate policies and procedures and that financial risk are identified, measured and managed in accordance with
Group policies and Group risk objective. In the event of crisis caused due to external factors such as caused by recent
pandemic "COVID-19", the management assesses the recoverability of its assets, maturity of its liabilities to factor it in
cash flow forecast to ensure there is enough liquidity in these situations through internal and external source of funds.
These forecast and assumptions are reviewed by board of directors.

The Board of Directors reviews and agrees policies for managing each of these risks which are summarized as below:

(a) Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market prices comprises three types of risk: currency rate risk, interest rate risk and other price risks, such
as equity price risk and commodity price risk. Financial instruments affected by market risks include loans and
borrowings, deposits, investments , and foreign currency receivables and payables. The sensitivity analysis in the
following sections relate to the position as at reporting date. The analysis exclude the impact of movements in market
variables on: the carrying values of gratuity and other post-retirement obligations; provisions; and the non-financial assets
and liabilities. The sensitivity of the relevant Profit and Loss item and equity is the effect of the assumed changes in the
respective market risks. This is based on the financial assets and financial liabilities held as of March 31, 2023 and March
31, 2022

(i) Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in foreign exchange rates. The Group’s exposure to the risk of changes in foreign exchange rates relates
primarily to the Group’s operating activities (when revenue or expense is denominated in foreign currency). Foreign
currency exchange rate exposure is partly balanced by purchasing of goods from the respective countries. The Group
basis their assessment believes that the probability of the occurrence of their forecasted transactions is not impacted by
COVID19 pandemic. The Group evaluates exchange rate exposure arising from foreign currency transactions and
follows established risk management policies.

Foreign currency risk sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in USD,EUR, CNY and other
currencies including JPY, KES, NPR, CHF, LKR ,MWK,AED,SLL and GBP exchange rates, with all other variables held

203
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

constant. The impact on the Group profit before tax and equity is due to changes in the fair value of monetary assets and
liabilities. Foreign currency exposures recognised by the Group that have not been hedged by a derivative instrument or
otherwise are as under:

Gain/ (loss)

March 31, Impact on profit before tax and

2023 equity

Currency Foreign Indian 5%

Currency 5% decrease
Symbol Currency Rupees increase

in Crores in Crores in Crores in Crores

United States
USD $-3.16 -259.58 -12.98 12.98
Dollar

EURO EUR I-0.04 -3.77 -0.19 0.19

Chinese
CNY CNY -5.88 -70.17 -3.51 3.51
RMB\\CNY

Other currencies -8.54 -5.33 -0.27 0.27

Impact on profit before tax and

March 31, 2022
equity

Currency Foreign Indian 5%

Currency 5% decrease
Symbol Currency Rupees increase

in Crores in Crores in Crores in Crores

United States
USD $(4.22) -319.78 -15.99 15.99
Dollar

EURO EUR -€ 0.01 -0.98 -0.05 0.05

204
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Chinese
CNY CNY(0.57) 1.91 0.1 -0.1
RMB\\CNY

Other currencies -0.6 -0.5 -0.03 0.03

Note:

Figures in bracket represents payables

(ii) Interest Rate Risk

Interest rate is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market interest rates. The Group's exposure to the risk of changes in market interest rates relates primarily to the
Group's long term debt obligation at floating interest rates. The Group's borrowings outstanding as at March 31, 2023
and March 31,2022 comprise of long term loans .

Interest rate Sensitivity of Borrowings

With all other variables held constant, the following table demonstrates the sensitivity to a reasonably possible change
in interest rates on floating rate portion of loans and borrowings as on date.

March 31, 2023 March 31, 2022

Increase/decrease in Impact on profit before tax Increase/decrease in Impact on profit before tax
basis points and Equity basis points and Equity

Term
0 - 0.5 -1.97
Loan

0 - -0.5 1.97

(iii) Commodity Price Risk

The Group is affected by the price volatility of certain commodities. Its operating activities require the ongoing
manufacture of industrial and domestic cable and other electronic items and therefore require a continuous supply of
copper and aluminium being the major input used in the manufacturing. To mitigate the risk of supply and price
fluctuations, Domestic and overseas sources are bench-marked to Optimize the allocation of business share among
various sources. The Group's Board of Directors has developed and enacted a risk management strategy regarding
commodity price risk and its mitigation. The Group mitigated the risk of price volatility by entering Long Term & Short
term contracts for the Purchase of these commodities basis estimated annual requirements.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(b) Credit Risk

Credit Risk is the risk that the counter party will not meet its obligation under a financial instrument or customer contract,
leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily trade receivables) and
from its financing activities, including deposits with banks, foreign exchange transactions and other financial instruments.

(i) Trade Receivables and Contract Assets

Customer credit risk is managed by each business unit subject to the Group's established policy, procedures and control
relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive credit
rating scorecard and individual credit limits are defined in accordance with this assessment. Outstanding customer
receivables are regularly monitored and any shipments to major customers are generally covered by Trade Receivable
buyout facility without recourse, letters of credit and other forms of security.

An impairment analysis is performed at each reporting date on trade receivables by lifetime expected credit loss method
based on provision matrix. The Group does not hold collateral as security. The Group evaluates the concentration of risk
with respect to trade receivables and contract assets as low, as its customers are located in several jurisdictions and
industries and operate in largely independent markets.

The group assigns the following internal credit ratings to each class of financial assets based on the assumptions, inputs
and factors specific to the class of the financial assets. The group provides for expected credit loss based on the
following:

Basis for
recognition
Basis for
Internal recognition of
Category Description of category of
Rating expected credit
expected
loss provision
credit loss
provision

Trade
Loans and
receivables and
deposits
contract assets

Lifetime
High quality 12-month
expected credit
assets, Assets where the counterparty has strong capacity to meet the expected
VL 1 losses
negligible obligations and where the risk of default is negligible or nil credit
(simplified
credit risk losses
approach)

Assets where there is low risk of default and where the

Quality assets,
VL 2 counterparty has sufficient capacity to meet the obligations and
low credit risk
where there has been low frequency of defaults in the past

100 %
provision
Assets where there is high risk of default and there is no 100 % provision is
Doubtful reasonable expectation of recovery,the group continues to is considered considered
VL 3 assets, engage in enforcement activity to attempt to recover the for doubtful for
credit-impaired receivable due. Where recoveries are made, these are assets, credit doubtful
recognised in profit or loss. impaired assets,
credit
impaired

206
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(I) Trade receivables ageing schedule as at 31 March 2023

Outstanding
for following
periods from
due date of
payment

Less More
Unbilled Not 6 months - 2-3
Particulars than 6 1 - 2 years than 3 Total
dues due 1 year years
months years

Gross
carrying
(i) amount – - 266.47 602.01 71.36 56.16 42.02 22.56 1,060.58
trade
receivables

Gross
carrying
(ii) amount – - 52.24 - - - - - 52.24
contract
assets

Expected
(iii) - 0.00% 0.03% 7.05% 31.75% 100.00% 100.00% 8.27%
loss rate

Expected
credit
(iv) losses– - 0.01 0.21 5.03 17.83 42.02 22.56 87.66
trade
receivables

Expected
credit
(v) losses– - - - - - - - -
contract
assets

Carrying
amount of
trade
(vi) - 266.46 601.8 66.33 38.33 - - 972.92
receivables
(net of
impairment)

Carrying
amount of
contract
- 52.24 - - - - - 52.24
assets (net
of
impairment)

(I) Trade
receivables

207
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

ageing

208
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

schedule as
at 31 March
2022

Outstanding
for following
periods from
due date of
payment

Less More
Unbilled Not 6 months - 2-3
Particulars than 6 1 - 2 years than 3 Total
dues due 1 year years
months years

Gross
carrying
(i) amount – - 525.87 162.15 47.61 62.98 23.75 18.31 840.67
trade
receivables

Gross
carrying
(ii) amount – - 65.38 - - - - - 65.38
contract
assets

Expected
(iii) - 0.00% 0.31% 9.30% 39.28% 100.00% 100.00% 8.53%
loss rate

Expected
credit
(iv) losses– - 0.01 0.5 4.43 24.74 23.75 18.31 71.74
trade
receivables

Expected
credit
(v) losses– - - - - - - - -
contract
assets

Carrying
amount of
trade
(vi) - 525.86 161.65 43.18 38.24 - - 768.93
receivables
(net of
impairment)

Carrying
amount of
contract
- 65.38 - - - - - 65.38
assets (net
of
impairment)

(ii) Financial instruments and cash deposits

Credit risk from balances with banks and financial institutions is managed by the Group’s treasury department in

209
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

accordance with the Group’s policy. Investments of surplus funds are made in bank deposits and other risk free
securities. The limits are set to minimize the concentration of risks and therefore mitigate financial loss through
counterparty’s potential failure to make payments.

The Group’s maximum exposure to credit risk for the components of the balance sheet at March 31, 2023 is the carrying
amounts . The Group’s maximum exposure relating to financial instrument is noted in liquidity table below.

Trade Receivables and other financial assets are written off when there is no reasonable expectation of recovery, such
as debtor failing to engage in the repayment plan with the Group.

As at As at

March 31, March 31,

2023 2022

(Rs. in (Rs. in
Crores) Crores)

Financial assets for which allowance is measured using 12 months Expected Credit Loss
Method (ECL)

Investment with financial institution 200.87 426.1

Cash and cash equivalents (Current) 465.16 775.84

Bank balances other than above (Current) 1,405.01 1,772.14

Other bank balances (Non-current)

Others Non Current financial assets 149.08 42.18

Others Current financial assets 116.89 29.89

2,337.01 3,046.15

Financial assets for which allowance is measured using Life time Expected Credit Loss
Method (ECL)

Trade Receivables 975.53 768.93

975.53 768.93

Balances with banks is subject to low credit risks due to good credit ratings assigned to these banks

The ageing analysis of trade receivables has been considered from the date the invoice falls due

210
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

As at As at

March 31, March 31,

2023 2022

(Rs. in (Rs. in
Crores) Crores)

Particulars

Trade Receivables

Not past due 269.07 524.43

0 to 180 days due past due date 601.8 163.08

More than 180 days past due date 104.66 81.42

Total Trade Receivables 975.53 768.93

The following table summarizes the change in loss allowance measured using the life time
expected credit loss model:-

As at the beginning of year 71.74 69.35

Addition and utilization during the year 15.91 2.39

As at the end of year 87.65 71.74

(c) Liquidity risk

Liquidity risk is defined as the risk that the Group will not be able to settle or meet its obligations on time or at reasonable
price. The Group's objective is to at all times maintain optimum levels of liquidity to meet its cash and liquidity requirements.
The Group closely monitors its liquidity position and deploys a robust cash management system. It maintains adequate
source of financing through the use of short term bank deposits, short term loans, short term commercial papers and cash
credit facility. Processes and policies related to such risks are overseen by senior management. Management monitors the
Group's liquidity position through rolling forecasts on the basis of expected cash flows. The Group assessed the
concentration of risk with respect to its debt and concluded it to be low.

Maturity profile of financial liabilities

The table below provides the details regarding the remaining contractual maturities of financial liabilities at the reporting date
based on contractual undiscounted payments.

211
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

As at March 31, 2023 Less than 1 year 1 to 5 years More than 5 years Total

Borrowings - - - -

Other non current financial liabilities - 3.98 - 3.98

Trade payables 2,643.19 - - 2,643.19

Lease Liability (undiscounted) 54.49 166.07 121.92 342.48

Other current financial liabilities 588.66 - - 588.66

As at March 31, 2022 Less than 1 year 1 to 5 years More than 5 years Total

Borrowings 139.4 289.23 - 428.63

Other non current financial liabilities - 3.96 - 3.96

Trade payables 2,380.02 - - 2,380.02

Lease Liability (undiscounted) 60.07 148.29 140.62 348.98

Other current financial liabilities 360.47 - - 360.47

10 Capital Management

For the purposes of Group's capital management, Capital includes equity attributable to the equity holders of the Group
and all other equity reserves. The primary objective of the Group's capital management is to safeguard its ability to
continue as going concern and to ensure that it maintains an efficient capital structure and maximize shareholder value.
The Group manages its capital structure and makes adjustments in light of changes in economic conditions and the
requirements of the financial covenants. To maintain or adjust the capital structure, the Group may adjust the dividend
payment to shareholders or issue new shares. The Group is not subject to any externally imposed capital requirements.
No changes were made in the objectives, policies or processes for managing capital during the year ended March 31,
2023 and March 31, 2022.

March 31, 2023 March 31, 2022

(Rs. in Crores) (Rs. in Crores)

Particulars

Loans and borrowings ** - 428.63

212
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Cash and cash equivalents refer note 10(C) -465.16 -775.84

Net Debt -465.16 -347.21

Equity / Net Worth 6,625.45 6,002.89

Total Capital 6,625.45 6,002.89

Capital and Net Debt 6,160.29 5,655.68

Gearing ratio (Net Debt/Capital and Net Debt) NA* NA*

Note: No changes were made in the objectives, policies or processes for managing capital during the year ended March 31,
2023 and March 31, 2022

* This ratio is not relevant for both year as the Cash and cash equivalents exceed the Loans and Borrowings.

** Borrowings does not includes Lease liabilities

[400400] Notes - Non-current investments

Details of non-current investments [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classification of non-current investments [Axis] 3
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on non-current investments explanatory [TextBlock]
Non-current investments [Abstract]
Disclosure of details of non-current investments [Abstract]
Details of non-current investments [Line items]
Investment in
Other non-current
Type of non-current investments subsidiaries preference
investments
shares
Class of non-current investments Other investments Other investments
Nature of non-current investments Unquoted Unquoted
Non-current investments 20 272.68
Singularity Furniture
Name of body corporate in whom investment has been made Pvt Ltd
-

Number of shares of non-current investment made in body corporate [shares] 1,72,563 [shares] 0

Unless otherwise specified, all monetary values are in Crores of INR

31/03/2023 31/03/2022
Disclosure of notes on non-current investments explanatory [TextBlock]
Aggregate amount of quoted non-current investments 0 0
Market value of quoted non-current investments 0 0
Aggregate amount of unquoted non-current investments 20 272.68
Aggregate provision for diminution in value of non-current investments 0 0

213
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[400500] Notes - Current investments

Details of current investments [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classification of current investments [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on current investments explanatory [TextBlock]
Current investments [Abstract]
Disclosure of details of current investments [Abstract]
Details of current investments [Line items]
Other current Other current
Type of current investments investments investments
Class of current investments Current investments Current investments
Nature of current investments Unquoted Unquoted
Current investments 180.87 153.42
Valued at amortised Valued at amortised
Basis of valuation of current investments cost cost
Deposits account Deposits account
with financial with financial
institution with institution with
Name of body corporate in whom investment has been made original maturity of original maturity of
more than twelve more than twelve
months months
Number of shares of current investment made in body corporate [shares] 0 [shares] 0

Unless otherwise specified, all monetary values are in Crores of INR

31/03/2023 31/03/2022
Disclosure of notes on current investments explanatory [TextBlock]
Aggregate amount of quoted current investments 180.87 153.42
Market value of quoted current investments 180.87 153.42
Aggregate amount of unquoted current investments 0 0
Aggregate provision for diminution in value of current investments 0 0

[611600] Notes - Non-current asset held for sale and discontinued operations
Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of non-current assets held for sale and discontinued operations
[TextBlock]
Net cash flows from (used in) operating activities, continuing
564.93 1,728.02
operations
Net cash flows from (used in) operating activities 564.93 1,728.02
Net cash flows from (used in) investing activities, continuing
35.04 -758.56
operations
Net cash flows from (used in) investing activities 35.04 -758.56
Net cash flows from (used in) financing activities, continuing
-906.93 -547.34
operations
Net cash flows from (used in) financing activities -906.93 -547.34
Description of non-current Assets or disposal group held for sale which
NA NA
were sold or reclassified
Explanation of facts and circumstances of sale or reclassification and
NA NA
expected disposal, manner and timing

214
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[400100] Notes - Equity share capital

Disclosure of classes of equity share capital [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Equity shares 1
Classes of equity share capital [Axis] Equity shares [Member]
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of notes on equity share capital explanatory
[TextBlock]
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line
items]
Refer to child
Type of share member
[shares] [shares] [shares]
Number of shares authorised 103,25,50,000 103,25,50,000 103,20,00,000
Value of shares authorised 103.75 103.75 103.2
[shares] [shares] [shares]
Number of shares issued 62,65,09,738 62,63,03,067 62,65,09,738
Value of shares issued 62.6509738 62.6303067 62.6509738
[shares] [shares] [shares]
Number of shares subscribed and fully paid 62,65,09,738 62,63,03,067 62,65,09,738
Value of shares subscribed and fully paid 62.6509738 62.6303067 62.6509738
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
[shares] [shares] [shares]
Total number of shares subscribed 62,65,09,738 62,63,03,067 62,65,09,738
Total value of shares subscribed 62.6509738 62.6303067 62.6509738
Value of shares paid-up [Abstract]
[shares] [shares] [shares]
Number of shares paid-up 62,65,09,738 62,63,03,067 62,65,09,738
Value of shares called 62.6509738 62.6303067 62.6509738
Value of shares paid-up 62.6509738 62.6303067 62.6509738
Par value per share [INR/shares] 1
Amount per share called in case shares not fully
[INR/shares] 0
called
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued under employee
[shares] 2,06,671 [shares] 2,90,061 [shares] 2,06,671
stock option plan
Total aggregate number of shares issued
[shares] 2,06,671 [shares] 2,90,061 [shares] 2,06,671
during period
Total increase (decrease) in number of
[shares] 2,06,671 [shares] 2,90,061 [shares] 2,06,671
shares outstanding
[shares] [shares] [shares]
Number of shares outstanding at end of period 62,65,09,738 62,63,03,067
[shares] 62,60,13,006
62,65,09,738
Reconciliation of value of shares outstanding
[Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during
period [Abstract]
Amount of shares issued under employee
0.0206671 0.0290061 0.0206671
stock option plan
Total aggregate amount of increase
0.0206671 0.0290061 0.0206671
in equity share capital during period
Total increase (decrease) in share capital 0.0206671 0.0290061 0.0206671
Equity share capital at end of period 62.6509738 62.6303067 62.6013006 62.6509738
Rights preferences and restrictions attaching Textual information
to class of share capital (13) [See below]
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]

215
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Total application money received for

allotment of securities and due for refund 0 0 0
and interest accrued thereon
Refer to child
Type of share member

Disclosure of classes of equity share capital [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of equity share capital [Axis] Equity shares 1 [Member] Equity shares 2 [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of notes on equity share capital explanatory
[TextBlock]
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line
items]
Type of share Refer to child member Preference Share Preference Share
Number of shares authorised [shares] 103,20,00,000 [shares] 5,50,000 [shares] 5,50,000
Value of shares authorised 103.2 0.55 0.55
Number of shares issued [shares] 62,63,03,067 [shares] 0 [shares] 0
Value of shares issued 62.6303067 0 0
Number of shares subscribed and fully paid [shares] 62,63,03,067 [shares] 0 [shares] 0
Value of shares subscribed and fully paid 62.6303067 0 0
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
Total number of shares subscribed [shares] 62,63,03,067 [shares] 0 [shares] 0
Total value of shares subscribed 62.6303067 0 0
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 62,63,03,067 [shares] 0 [shares] 0
Value of shares called 62.6303067 0 0
Value of shares paid-up 62.6303067 0 0
Par value per share [INR/shares] 1 [INR/shares] 10 [INR/shares] 10
Amount per share called in case shares not fully
[INR/shares] 0 [INR/shares] 0 [INR/shares] 0
called
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued under employee
[shares] 2,90,061
stock option plan
Total aggregate number of shares issued
[shares] 2,90,061
during period
Total increase (decrease) in number of
[shares] 2,90,061 [shares] 0 [shares] 0
shares outstanding
[shares]
Number of shares outstanding at end of period [shares] 62,63,03,067
62,60,13,006
[shares] 0 [shares] 0

Reconciliation of value of shares outstanding

[Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during
period [Abstract]
Amount of shares issued under employee
0.0290061
stock option plan
Total aggregate amount of increase
0.0290061
in equity share capital during period
Total increase (decrease) in share capital 0.0290061 0 0
Equity share capital at end of period 62.6303067 62.6013006 0 0
Rights preferences and restrictions attaching Textual information (14)
to class of share capital [See below]
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Total application money received for
allotment of securities and due for refund 0 0 0
and interest accrued thereon
Type of share Refer to child member Preference Share Preference Share

216
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of classes of equity share capital [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Equity shares 2
Classes of equity share capital [Axis]
[Member]
31/03/2021
Disclosure of notes on equity share capital explanatory [TextBlock]
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line items]
Reconciliation of number of shares outstanding [Abstract]
Number of shares outstanding at end of period [shares] 0

Disclosure of shareholding more than five per cent in company [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Name of shareholder [Member] Shareholder 1 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of notes on equity share capital explanatory
[TextBlock]
Refer to child Refer to child
Type of share member member
Equity Shares Equity Shares

Disclosure of shareholding more than five per cent in

company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Refer to child Refer to child
Type of share member member
Equity Shares Equity Shares
Shri Anil Rai Gupta
Shri Anil Rai Gupta
Refer to child Refer to child as Managing
Name of shareholder member member Trustee of ARG
as Managing Trustee
of ARG Family Trust
Family Trust
Permanent account number of shareholder AAAPG8092J AAAPG8092J
Country of incorporation or residence of
INDIA INDIA
shareholder
[shares]
Number of shares held in company 40,55,02,850
[shares] 40,55,02,850 [shares] 7,74,25,200 [shares] 7,74,25,200

Percentage of shareholding in company 64.74% 64.75% 12.36% 12.36%

Disclosure of shareholding more than five per cent in company [Table] ..(2)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 2 [Member] Shareholder 3 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of notes on equity share capital explanatory
[TextBlock]
Type of share Equity Shares Equity Shares Equity Shares Equity Shares
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Type of share Equity Shares Equity Shares Equity Shares Equity Shares
Shri Surjit Kumar
Shri Surjit Kumar
Gupta as Trustee QRG ENTERPRISES QRG ENTERPRISES
Name of shareholder of SKG Family
Gupta as Trustee of
LIMITED. LIMITED.
SKG Family Trust
Trust
CIN of shareholder U31900HR1991PLC097548 U31900HR1991PLC097548
Permanent account number of shareholder AAAPG3515A AAAPG3515A
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
shareholder
[shares]
Number of shares held in company 3,64,32,180
[shares] 3,64,32,180 [shares] 0 [shares] 18,98,58,880

Percentage of shareholding in company 5.82% 5.82% 0.00% 30.31%

217
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of shareholding more than five per cent in company [Table] ..(3)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 4 [Member] Shareholder 5 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of notes on equity share
capital explanatory
[TextBlock]
Type of share Equity Shares Equity Shares Equity Shares Equity Shares
Disclosure of shareholding more
than five per cent in
company [Abstract]
Disclosure of shareholding more
than five per cent
in company [LineItems]
Type of share Equity Shares Equity Shares Equity Shares Equity Shares
QRG Investments and QRG Investments and Nalanda India Equity Fund Nalanda India Equity Fund
Name of shareholder Holdings Limited Holdings Limited Limited Limited
CIN of shareholder U52110HR1985PLC098198 U52110HR1985PLC098198 U74900MH2013PTC242225 U74900MH2013PTC242225
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
shareholder
Number of shares held in
[shares] 25,86,00,540 [shares] 6,87,41,660 [shares] 3,30,44,930 [shares] 3,30,44,930
company
Percentage of shareholding in
41.28% 10.98% 5.28% 5.28%
company

Disclosure of shareholding more than five per cent in company [Table] ..(4)
Unless otherwise specified, all monetary values are in Crores of INR
Classes of equity share capital [Axis] Equity shares 2 [Member]
Name of shareholder [Axis] Name of shareholder [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on equity share capital explanatory [TextBlock]
Type of share Preference Share Preference Share
Disclosure of shareholding more than five per cent in company [Abstract]
Disclosure of shareholding more than five per cent in company [LineItems]
Type of share Preference Share Preference Share

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on equity share capital explanatory [TextBlock]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Whether money raised from public offering during year No No

Textual information (13)

Rights preferences and restrictions attaching to class of share capital

The Group has only one class of issued share capital i.e. equity shares having a par value of Rs.1/- per share (March
31,2021 : Rs.1/- per share). Each holder of equity shares is entitled to one vote per shares. The Company declares and pays
dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in
the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the
Company after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity
shares held by the shareholders.

218
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (14)

Rights preferences and restrictions attaching to class of share capital

The Group has only one class of issued share capital i.e. equity shares having a par value of Rs.1/- per share (March
31,2021 : Rs.1/- per share). Each holder of equity shares is entitled to one vote per shares. The Company declares and pays
dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in
the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the
Company after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity
shares held by the shareholders.

[400300] Notes - Borrowings

Classification of borrowings [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of borrowings [Axis] Borrowings [Member]
Secured/Unsecured borrowings
Subclassification of borrowings [Axis] Secured borrowings [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of notes on borrowings explanatory [TextBlock]
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 0 272.57 0 272.57

Classification of borrowings [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of borrowings [Axis] Term loans [Member] Term loans from banks [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of notes on borrowings explanatory [TextBlock]
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 0 272.57 0 272.57

Classification of borrowings [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Non-current [Member] Current [Member]
Rupee term loans from banks
Classification of borrowings [Axis] Borrowings [Member]
[Member]
Secured/Unsecured borrowings
Subclassification of borrowings [Axis] Secured borrowings [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of notes on borrowings explanatory [TextBlock]
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 0 272.57 0 122.96

219
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Classification of borrowings [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Current [Member]
Classification of borrowings [Axis] Borrowings [Member] Other loans and advances [Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of notes on borrowings explanatory [TextBlock]
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 0 122.96 0 122.96

Classification of borrowings [Table] ..(5)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Current [Member]
Other loans and advances, others
Classification of borrowings [Axis]
[Member]
Subclassification of borrowings [Axis] Secured borrowings [Member]
31/03/2023 31/03/2022
Disclosure of notes on borrowings explanatory [TextBlock]
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 0 (A) 122.96

Footnotes
(A)
Particulars 2021-22

Current maturities of long term borrowings (Refer note 14(A)) 121.12

Add : Interest accrued 1.84

220
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[612700] Notes - Income taxes

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Other temporary
Temporary difference, unused tax losses and unused tax credits
Temporary differences [Member] differences
[Axis]
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of income tax [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 88.03 86.32 88.03
Deferred tax liabilities 449.54 436.94 449.54
Net deferred tax liability (assets) 361.51 350.62 339.11 361.51
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
10.89 11.51 10.89
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
10.89 11.51 10.89
recognised in profit or loss
Total increase (decrease) in deferred
10.89 11.51 10.89
tax liability (assets)
Deferred tax liability (assets) at end of
361.51 350.62 339.11 361.51
period
Refer to child
Description of other temporary differences Refer to child member Refer to child member
member

221
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(2)
Unless otherwise specified, all monetary values are in Crores of INR
Temporary difference, unused tax losses and unused tax credits Other temporary differences 1
Other temporary differences [Member]
[Axis] [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of income tax [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 86.32
Deferred tax liabilities 436.94 393.84 382.72
Net deferred tax liability (assets) 350.62 339.11 393.84 382.72
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
11.51 11.12 14.09
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
11.51 11.12 14.09
recognised in profit or loss
Total increase (decrease) in deferred
11.51 11.12 14.09
tax liability (assets)
Deferred tax liability (assets) at end of
350.62 339.11 393.84 382.72
period
Accelerated Accelerated
Description of other temporary differences Refer to child member Depreciation for Depreciation for Tax
Tax purposes purposes

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(3)
Unless otherwise specified, all monetary values are in Crores of INR
Other temporary
Temporary difference, unused tax losses and unused tax credits
differences 1 Other temporary differences 2 [Member]
[Axis]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of income tax [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax liabilities 52.68 52.79
Net deferred tax liability (assets) 368.63 52.68 52.79 30.93
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
-0.11 21.86
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
-0.11 21.86
recognised in profit or loss
Total increase (decrease) in deferred
-0.11 21.86
tax liability (assets)
Deferred tax liability (assets) at end of
368.63 52.68 52.79 30.93
period
Right of Use as per Ind Right of Use as per Ind
Description of other temporary differences AS 116 AS 116

222
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(4)
Unless otherwise specified, all monetary values are in Crores of INR
Other temporary
Temporary difference, unused tax losses and unused tax credits
Other temporary differences 3 [Member] differences 4
[Axis]
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of income tax [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 56.15 55.59 9.82
Net deferred tax liability (assets) -56.15 -55.59 -32.88 -9.82
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
-0.56 -22.71 2.87
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
-0.56 -22.71 2.87
recognised in profit or loss
Total increase (decrease) in deferred
-0.56 -22.71 2.87
tax liability (assets)
Deferred tax liability (assets) at end of
-56.15 -55.59 -32.88 -9.82
period
Lease liability as per Ind Lease liability as per Ind Expenses allowable
Description of other temporary differences AS 116 AS 116 on payment basis

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(5)
Unless otherwise specified, all monetary values are in Crores of INR
Temporary difference, unused tax losses and unused tax credits Other temporary differences 5
Other temporary differences 4 [Member]
[Axis] [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of income tax [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 12.69 22.06 18.04
Net deferred tax liability (assets) -12.69 -11.65 -22.06 -18.04
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
-1.04 -4.02 -0.59
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
-1.04 -4.02 -0.59
recognised in profit or loss
Total increase (decrease) in deferred
-1.04 -4.02 -0.59
tax liability (assets)
Deferred tax liability (assets) at end of
-12.69 -11.65 -22.06 -18.04
period
Expenses allowable on Allowance for Allowance for
Description of other temporary differences payment basis doubtful debts doubtful debts

223
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(6)
Unless otherwise specified, all monetary values are in Crores of INR
Other temporary
Temporary difference, unused tax losses and unused tax credits
differences 5 Other temporary differences 6 [Member]
[Axis]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of income tax [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [TextBlock]
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax liabilities 3.02 1.43
Net deferred tax liability (assets) -17.45 3.02 1.43 1.53
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
1.59 -0.1
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
1.59 -0.1
recognised in profit or loss
Total increase (decrease) in deferred
1.59 -0.1
tax liability (assets)
Deferred tax liability (assets) at end of
-17.45 3.02 1.43 1.53
period
Other Items giving rise to Other Items giving rise to
Description of other temporary differences temporary differences temporary differences

224
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of income tax [TextBlock]
Major components of tax expense (income) [Abstract]
Current tax expense (income) and adjustments for current tax of prior
periods [Abstract]
Current tax expense (income) 361.2 408.83
Adjustments for current tax of prior periods 3.24 -10.25
Total current tax expense (income) and adjustments for current tax
364.44 398.58
of prior periods
Other components of deferred tax expense (income) (A) 10.89 (B) 11.51
Total tax expense (income) 375.33 410.09
Income tax relating to components of other comprehensive income [Abstract]
Income tax relating to investments in equity instruments of other
-2.58 1.86
comprehensive income
Total aggregated income tax relating to components of other
-2.58 1.86
comprehensive income
Disclosure of temporary difference, unused tax losses and unused tax
credits [TextBlock]
Disclosure of temporary difference, unused tax losses and unused tax
credits [Abstract]
Disclosure of temporary difference, unused tax losses and unused
tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets
Deferred tax liabilities
Net deferred tax liability (assets)
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income) recognised in profit or loss
Reconciliation of changes in deferred tax liability (assets)
[Abstract]
Changes in deferred tax liability (assets) [Abstract]
Deferred tax expense (income) recognised in profit or loss
Total increase (decrease) in deferred tax liability (assets)
Description of other temporary differences
Reconciliation of accounting profit multiplied by applicable tax rates
[Abstract]
Accounting profit 1,447.06 1,606.56
Other tax effects for reconciliation between accounting profit and tax
375.33 410.09
expense (income)
Total tax expense (income) 375.33 410.09
Reconciliation of average effective tax rate and applicable tax rate
[Abstract]
Accounting profit 1,447.06 1,606.56

Footnotes
(A)
Particulars 2022-23

Relating to origination and reversal of temporary differences 10.89

(B)
Particulars 2021-22

Relating to origination and reversal of temporary differences 11.51

[611000] Notes - Exploration for and evaluation of mineral resources

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of exploration and evaluation assets [TextBlock]
Whether there are any exploration and evaluation activities No No

225
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[611900] Notes - Accounting for government grants and disclosure of government assistance
Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of accounting for government grants and disclosure of government
assistance [TextBlock]
Whether company has received any government grant or government assistance No No

[401100] Notes - Subclassification and notes on liabilities and assets

Other current financial assets others [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Other current financial assets others [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others 3.71 3.32 113.18 26.57
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Contractual claims
Contractual claims
Description other current financial assets and other
Retention money Retention money and other receivables
others receivables refer
refer note (a)
note (a)
Other current financial assets others 3.71 3.32 113.18 26.57

Other current financial assets others [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Other current financial assets others [Axis] 3
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Other current financial assets [Abstract]
Other current financial assets others 26.67 26.55
Other current financial assets others [Abstract]
Other current financial assets others [Line items]
Description other current financial assets others Current portion Current portion
Other current financial assets others 26.67 26.55

Other current assets others [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Other current assets others [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Other current assets notes [Abstract]
Other current assets [Abstract]
Other current assets, others 4.19 2.4 4.98 9.34
Other current assets others [Abstract]
Other current assets others [Line items]
Duty free licenses Duty free licenses in Government grant Government grant
Description of other current assets others in hand hand receivable receivable
Other current assets, others 4.19 2.4 4.98 9.34

226
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Classification of inventories [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classification of inventories [Axis] Company inventories [Member] Raw materials [Member]
01/04/2022 01/04/2021
31/03/2023 31/03/2022 to to
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 3,708.58 2,968.08 836.69 754.89
Goods in transit 148.92 180.41
(Valued at lower of (Valued at lower of
cost and net cost and net
Mode of valuation realisable value realisable value
unless otherwise unless otherwise
stated) stated)

Classification of inventories [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Classification of inventories [Axis] Work-in-progress [Member] Finished goods [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 165.56 202.06 1,764.2 1,359.07
Goods in transit 201.21 234.65
(Valued at lower of (Valued at lower of (Valued at lower of (Valued at lower of
cost and net cost and net cost and net cost and net
Mode of valuation realisable value realisable value realisable value realisable value
unless otherwise unless otherwise unless otherwise unless otherwise
stated) stated) stated) stated)

Classification of inventories [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Classification of inventories [Axis] Stock-in-trade [Member] Stores and spares [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 851.75 581.31 46.19 34.07
Goods in transit 73.05 74.95
(Valued at lower of (Valued at lower of (Valued at lower of (Valued at lower of
cost and net cost and net cost and net cost and net
Mode of valuation realisable value realisable value realisable value realisable value
unless otherwise unless otherwise unless otherwise unless otherwise
stated) stated) stated) stated)

227
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Classification of inventories [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Classification of inventories [Axis] Loose tools [Member] Other inventories [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 4.21 2.62 39.98 34.06
(Valued at lower of (Valued at lower of
cost and net cost and net
Refer to child Refer to child
Mode of valuation realisable value realisable value
member member
unless otherwise unless otherwise
stated) stated)
Refer to child Refer to child
Nature of other inventories member member

Classification of inventories [Table] ..(5)

Unless otherwise specified, all monetary values are in Crores of INR
Classification of inventories [Axis] Scrap [Member] Other inventories, others [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 16.11 13.87 23.87 20.19
(Valued at lower of (Valued at lower of
cost and net cost and net
(Valued at (Valued at realisable
Mode of valuation realisable value) value)
realisable value realisable value
unless otherwise unless otherwise
stated) stated)
Nature of other inventories Scrap materials Scrap materials Packing materials Packing materials

Other non-current assets, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Other non-current assets, others [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Other non-current assets notes [Abstract]
Other non-current assets [Abstract]
Other non-current assets, others 29.03 26.54
Other non-current assets, others [Abstract]
Other non-current assets, others [Line items]
Current tax assets
Current tax assets net
Description of other non-current assets, others net of current tax
of current tax payable
payable
Other non-current assets, others 29.03 26.54

228
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Other current liabilities, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Other current liabilities, others [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current liabilities notes
[Abstract]
Other current liabilities [Abstract]
Other current liabilities, others 0.5 0 55.69 123.45
Other current liabilities, others [Abstract]
Other current liabilities, others [Line
items]
Description of other current liabilities, Advance against Advance against Goods and Services Goods and Services
others Land Land Tax Payable Tax Payable
Other current liabilities, others 0.5 0 55.69 123.45

Other current liabilities, others [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Other current liabilities, others [Axis] 3
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Disclosure of other current liabilities notes [Abstract]
Other current liabilities [Abstract]
Other current liabilities, others 83.53 66.06
Other current liabilities, others [Abstract]
Other current liabilities, others [Line items]
Other statutory dues Other statutory dues
Description of other current liabilities, others payable payable
Other current liabilities, others 83.53 66.06

Other non-current financial liabilities others [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Other non-current financial liabilities others [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other non-current financial
liabilities notes [Abstract]
Other non-current financial liabilities [Abstract]
Other non-current financial liabilities, others 4.1 4.99 186.91 178.82
Other non-current financial liabilities others
[Abstract]
Other non-current financial liabilities
others [Line items]
Non-current Non-current
Description other non-current financial
portion-Contract portion-Contract Lease Liabilities Lease Liabilities
liabilities others Liability Liability
Other non-current financial liabilities,
4.1 4.99 186.91 178.82
others

229
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Other non-current financial liabilities others [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Other non-current financial liabilities others [Axis] 3 4
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other non-current financial
liabilities notes [Abstract]
Other non-current financial liabilities [Abstract]
Other non-current financial liabilities, others 0.54 0.56 0.67 0.66
Other non-current financial liabilities others
[Abstract]
Other non-current financial liabilities
others [Line items]
Employees payable
Employees payable L o n g Term Long Term
Description other non-current financial pursuant to
pursuant to employee E m p l o y e e Employee Retention
liabilities others employee stock
stock purchase plan Retention scheme scheme
purchase plan
Other non-current financial liabilities,
0.54 0.56 0.67 0.66
others

Other non-current financial liabilities others [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Other non-current financial liabilities others [Axis] 5 6
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other non-current financial
liabilities notes [Abstract]
Other non-current financial liabilities [Abstract]
Other non-current financial liabilities, others 3.23 0 2.77 2.74
Other non-current financial liabilities others
[Abstract]
Other non-current financial liabilities
others [Line items]
Description other non-current financial Employees Employees Other Liabilities Other Liabilities
liabilities others ownership plan ownership plan (retention money) (retention money)
Other non-current financial liabilities,
3.23 0 2.77 2.74
others

Other current financial liabilities, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Other current financial liabilities, others [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 36.19 42.05 84.42 57.03
Other current financial liabilities, others
[Abstract]
Other current financial liabilities, others
[Line items]
Current Current
Description of other current financial Current maturities Current maturities of
portion-Contract portion-Contract
liabilities, others of Lease liability Lease liability
Liability Liability
Other current financial liabilities,
36.19 42.05 84.42 57.03
others

230
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Other current financial liabilities, others [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Other current financial liabilities, others [Axis] 3 4
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 2.04 2.06 45.3 21.47
Other current financial liabilities, others
[Abstract]
Other current financial liabilities, others
[Line items]
Long Term Long Term
Description of other current financial Creditors for capital Creditors for capital
Employee Employee Retention
liabilities, others goods goods
Retention Scheme Scheme
Other current financial liabilities,
2.04 2.06 45.3 21.47
others

Other current financial liabilities, others [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Other current financial liabilities, others [Axis] 5 6
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 48.48 45.55 121.54 110.25
Other current financial liabilities, others
[Abstract]
Other current financial liabilities, others
[Line items]
Description of other current financial Deposits from Deposits from Employee benefit Employee benefit
liabilities, others customers customers obligations obligations
Other current financial liabilities,
48.48 45.55 121.54 110.25
others

Other current financial liabilities, others [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Other current financial liabilities, others [Axis] 7 8
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 381.23 319.29 5.38 8.81
Other current financial liabilities, others
[Abstract]
Other current financial liabilities, others
[Line items]
Description of other current financial Sales incentives Sales incentives
Others Others
liabilities, others payable payable
Other current financial liabilities,
381.23 319.29 5.38 8.81
others

231
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Other non-current financial assets, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classification of other non-current financial assets others [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Other non-current financial assets notes [Abstract]
Other non-current financial assets [Abstract]
Other non-current financial assets, others 115.24 20.2 33.84 21.98
Other non-current financial assets, others
[Abstract]
Other non-current financial assets, others
[Line items]
Bank deposits with Bank deposits with
original and original and
Description other non-current financial Earnest money and Earnest money and
remaining maturity remaining maturity of
assets, others Security Deposits Security Deposits
of more than twelve more than twelve
months months
Other non-current financial assets, others 115.24 20.2 33.84 21.98

Other non-current financial assets, others [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Classification of other non-current financial assets others [Axis] 3
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Other non-current financial assets notes [Abstract]
Other non-current financial assets [Abstract]
Other non-current financial assets, others 25.57 38.83
Other non-current financial assets, others [Abstract]
Other non-current financial assets, others [Line items]
Description other non-current financial assets, others Contract Assets Contract Assets
Other non-current financial assets, others 25.57 38.83

Details of advances [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of advances [Axis] Advances [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 78.94 42.93 78.94 42.93
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

232
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Details of advances [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of advances [Axis] Capital advances [Member] Other Advances [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 47.7 7.22 31.24 35.71
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Details of advances [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Non-current [Member]
Deposits with statutory authorities
Classification of advances [Axis] Prepaid expenses [Member]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 4.71 5.82 26.53 29.89
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

233
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Details of advances [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Advances [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 169.35 101.91 169.35 101.91
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Details of advances [Table] ..(5)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Advances given suppliers [Member] Other Advances [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 29.46 23.54 139.89 78.37
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

234
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Details of advances [Table] ..(6)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Current [Member]
Deposits with statutory authorities
Classification of advances [Axis] Prepaid expenses [Member]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 47.5 27.86 92.39 50.51
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Disclosure of breakup of provisions [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Non-current [Member] Current [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [Line items]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 4.15 31.21 8.65
Total provisions for employee benefits 4.15 31.21 8.65
Provision for statutory liabilities (A) 6.7 (B) 7.28
CSR expenditure provision 0 0 0 0
Other provisions (C) 132.57 (D) 76.25 (E) 237 (F) 237.3
Total provisions 136.72 76.25 274.91 253.23

Footnotes
(A) Litigations
(B) Litigations
(C)
Product warranties and E-waste {Refer note 18(a)}

(D)
Product warranties and E-waste {Refer note 18(a)}
(E) Product warranties
(F)
Product warranties {(refer note (a)}

235
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Subclassification of trade receivables [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line
items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 1.59 2.67 1.59 2.67
Allowance for bad and doubtful debts 0 0 0 0
Total trade receivables 1.59 2.67 1.59 2.67
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Total trade receivables due by
0 0
directors, other officers or others
Details of trade receivables due by firms
or companies in which any director is
partner or director [Abstract]
Trade receivables due by firms in
0 0
which any director is partner
Trade receivables due by private
companies in which any director is 0 0
director
Trade receivables due by private
companies in which any director is 0 0
member
Total trade receivables due by
firms or companies in which any 0 0
director is partner or director

236
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Subclassification of trade receivables [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Current [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line
items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 1,061.6 838 (A) 973.94 (B) 766.26
Allowance for bad and doubtful debts 87.66 71.74 0 0
Total trade receivables 973.94 766.26 973.94 766.26
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Total trade receivables due by
0 0
directors, other officers or others
Details of trade receivables due by firms
or companies in which any director is
partner or director [Abstract]
Trade receivables due by firms in
0 0
which any director is partner
Trade receivables due by private
companies in which any director is 0 0
director
Trade receivables due by private
companies in which any director is 0 0
member
Total trade receivables due by
firms or companies in which any 0 0
director is partner or director

Footnotes
(A)
Particulars 2022-23

Trade receivables (net) 975.53

Non - current portion {refer note 6(B)} -1.59

(B) Trade receivables from contract with customers - considered good : 768.93 Non-current portion : -2.67

237
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Subclassification of trade receivables [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Classification based on current non-current [Axis] Current [Member]
Classification of assets based on security [Axis] Doubtful [Member]
31/03/2023 31/03/2022
Subclassification and notes on liabilities and assets [Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line items]
Breakup of trade receivables [Abstract]
Trade receivables, gross (A) 87.66 (B) 71.74
Allowance for bad and doubtful debts 87.66 71.74
Total trade receivables 0 0
Details of trade receivables due by directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Total trade receivables due by directors, other officers or others 0 0
Details of trade receivables due by firms or companies in which any
director is partner or director [Abstract]
Trade receivables due by firms in which any director is partner 0 0
Trade receivables due by private companies in which any director is director 0 0
Trade receivables due by private companies in which any director is member 0 0
Total trade receivables due by firms or companies in which any director
0 0
is partner or director

Footnotes
(A) Trade receivables from contract with customers - credit impaired: 87.66
(B) Trade receivables from contract with customers - credit impaired: 71.74

238
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of subclassification and notes on liabilities and assets Textual information (15)
explanatory [TextBlock] [See below]

Total other non-current financial assets (A) 174.65 (B) 81.01

Advances, non-current (C) 78.94 (D) 42.93
Total other non-current assets (E) 107.97 (F) 69.47
Disclosure of notes on cash and bank balances explanatory [TextBlock]
Fixed deposits with banks (G) 29.92 (H) 114.02
Deposit repayment reserve account with banks (I) 363.57 (J) 624.72
Other balances with banks (K) 71.54 (L) 36.86
Total balance with banks 465.03 775.6
Cash on hand 0.13 0.24
Total cash and cash equivalents 465.16 775.84
Bank balance other than cash and cash equivalents 1,405.01 1,772.14
Total cash and bank balances 1,870.17 2,547.98
Total balances held with banks to extent held as
margin money or security against borrowings, 0 0
guarantees or other commitments
Bank deposits with more than 12 months maturity 0 0

Total other current financial assets (M) 143.56 (N) 56.44

Advances, current (O) 169.35 (P) 101.91
Total other current assets 178.52 113.65

Total other non-current financial liabilities (Q) 198.22 (R) 187.77

Textual information (16) Textual information (17)
Nature of other provisions [See below] [See below]
Interest accrued on borrowings 0 0
Interest accrued on public deposits 0 0
Interest accrued others 0 5.94
Unpaid dividends 2.26 2.68
Retention money payable 18.62 9.43
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Debentures claimed but not paid 0 0
Public deposit payable, current 0 0

Total other current financial liabilities (S) 745.46 (T) 624.56

Current liabilities portion of share application money pending
0 0
allotment
Total other current liabilities 139.72 189.51

239
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Footnotes
(A)
Particulars 2022-23

(iii) Other financial assets 149.08

Contract assets 25.57

(B)
Particulars 2021-22

(iii) Other financial assets 42.18

Contract assets 38.83

(C)
Particulars 2022-23

Capital advances 47.7

Prepaid expenses 4.71

Deposits with Statutory and Government authorities 26.53

(D)
Particulars 2021-22

Capital advances 7.22

Prepaid expenses 5.82

Deposits with Statutory and Government authorities 29.89

(E)
Particulars 2022-23

Other non-current assets 78.94

Non Current tax assets (net) 29.03

(F)
Particulars 2021-22

Other non-current assets 42.93

Non Current tax assets (net) 26.54

(G)
Particulars 2022-23

Cash credit accounts 29.92

(H)
Particulars 2021-22

Cash credit accounts 114.02

(I)
Particulars 2022-23

Deposits with original maturity of less than three months {refer notes (b) and (d)} 363.57

(J)
Particulars 2021-22

Deposits with original maturity of less than three months {refer notes (b) and (d)} 624.72

(K)

240
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Particulars 2022-23

Current accounts (net) {refer note (c)} 71.54

(L)
Particulars 2021-22

Current accounts (net) {refer note (c)} 36.86

(M)
Particulars 2022-23

(v) Other financial assets 116.89

Contract assets 26.67

(N)
Particulars 2021-22

(v) Other financial assets 29.89

Contract assets 26.55

(O)
Particulars 2022-23

Prepaid expenses 47.5

Advances for materials and services 29.46

Balance with Statutory and Government authorities/Others 92.39

(P)
Particulars 2021-22

Prepaid expenses 27.86

Advances for materials and services 23.54

Balance with Statutory and Government authorities/Others 50.51

(Q)
Particulars 2022-23

(ii) Lease liabilities 186.91

(iii) Other financial liabilities 7.21

Contract liabilities 4.1

(R)
Particulars 2021-22

(ii) Lease liabilities 178.82

(iii) Other financial liabilities 3.96

Contract liabilities 4.99

(S)
Particulars 2022-23

(ii) Lease liabilities 36.19

(iv) Other financial liabilities 624.85

Contract liabilities 84.42

(T)
Particulars 2021-22

241
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(ii) Lease liabilities 42.05

(iv) Other financial liabilities 525.48

Contract liabilities 57.03

242
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (15)

Disclosure of subclassification and notes on liabilities and assets explanatory [Text Block]

As at As at

March 31, 2023 March 31, 2022

Rs. in crores Rs. in crores

CONTRACT BALANCES

(A) Trade Receivables refer note (a) below and note 10(B) 975.53 768.93

975.53 768.93

(B) Contract Assets (Unsecured, considered good) refer note (b) 52.24 65.38

52.24 65.38

Non-current portion 25.57 38.83

Current portion 26.67 26.55

(C) Contract Liability refer note (c) and note 21(v) 88.52 62.02

88.52 62.02

Non-current portion 4.1 4.99

Current portion 84.42 57.03

Note

(a)Trade Receivable represents the amount of consideration in exchange for goods or services transferred to the customers
that is unconditional.

(b)During the earlier years, the Group had entered in to agreement with customers where in the Group had identified multiple

243
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

performance obligations as per Ind AS 115 "Revenue from contracts with customers" . The Group's right to receive
consideration is conditional upon satisfaction of all performance obligations. Accordingly, the Group has recognised contract

244
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

assets in respect of performance obligations satisfied during the year. The contract assets arises when Group satisfies a
performance obligation but does not have an unconditional right to consideration. Contract assets have decreased in the
current year on account of decrease in the time frame for a" right to consideration" becoming unconditional.

(c)The Group has entered into the agreements with customer for sale of goods and services. The Group has identified these
performance obligations and recognised the contract liabilities in respect of contracts, where the Group has obligation to
deliver the goods and perform specified services to a customer for which the Group has received consideration. There has
been no significant change in the contract liabilities.

6 NON-CURRENT FINANCIAL ASSETS

(A) NON-CURRENT INVESTMENT (valued at amortised cost)

Unsecured, considered good

Deposits account with financial institution having remaining maturity

(i) 272.68
period of more than twelve months (refer note (a) below) -

(II) Investment in preference shares (fully paid-up)

Unquoted

1,72,563 (0.001%) compulsorily convertible cumulative participative

20
preference shares Singularity Furniture Pvt Ltd. ( March 31, 2022 Nil) -

20 272.68

Total non-current investments 20

-

Aggregate amount of unquoted investments 20

-

(a) The deposits maintained by the Group with financial institution

comprise of the time deposits and are made of varying periods between
one year to two years depending on the cash requirements of the Group
and earn interest at the respective deposit rates.

(B) TRADE RECEIVABLES (valued at amortised cost)

Unsecured refer note 10(B)

Trade receivables from contracts with customers - considered good 1.59 2.67

1.59 2.67

245
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(C) OTHER FINANCIAL ASSETS (valued at amortised cost)

Unsecured, considered good

Earnest money and Security Deposits 33.84 21.98

Others

Bank deposits with original and remaining maturity of more than twelve
115.24 20.2
months

149.08 42.18

7 OTHER NON-CURRENT ASSETS

Unsecured, considered good

Capital advances 47.7 7.22

Others

Prepaid expenses 4.71 5.82

Deposits with Statutory and Government authorities 26.53 29.89

78.94 42.93

8 NON CURRENT TAX ASSETS (NET)

Current tax assets net of current tax payable 29.03 26.54

29.03 26.54

9 INVENTORIES

(Valued at lower of cost and net realisable value unless otherwise

stated)

Raw materials and components 836.69 754.89

246
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Work-in-progress 165.56 202.06

Finished goods 1,764.20 1,359.07

Traded goods 851.75 581.31

Stores and spares 46.19 34.07

Loose tools 4.21 2.62

Packing materials 23.87 20.19

Scrap materials 16.11 13.87

3,708.58 2,968.08

Notes:

(a) The above includes goods in transit as under:

Raw materials 148.92 180.41

Finished goods 201.21 234.65

Traded goods 73.05 74.95

(b) The stock of scrap materials have been taken at net realisable value.

10 CURRENT FINANCIAL ASSETS

As at As at

March 31, 2023 March 31, 2022

Rs. in crores Rs. in crores

(A) CURRENT INVESTMENT (valued at amortised cost)

Unsecured, considered good

Deposits account with financial institution with original maturity of more

180.87 153.42
than twelve months but remaining maturity less than 12 months

180.87 153.42

247
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Aggregate amount of unquoted investments 180.87 153.42

Aggregate amount of impairment in the value of investments

- -

Note:

(a) The deposits maintained by the Group with financial institution

comprise of the time deposits and are made for varying periods
between one year to two years depending on the cash requirements of
the Group and earn interest at the respective deposit rates.

(B) TRADE RECEIVABLES (valued at amortised cost)

Unsecured

Trade receivables from contract with customers - considered good 1034.3 813.51

Trade receivables - Credit impaired 28.89 27.16

Trade receivables (gross) 1063.19 840.67

Less : Impairment allowance for trade receivables 87.66 71.74

Trade receivables (net) 975.53 768.93

Current portion 973.94 766.26

Non - current portion refer note 6(B) 1.59 2.67

(I) Trade receivables

ageing schedule as at 31
March 2023

Unbilled
Particulars Not due Less than 6 months
dues

248
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(i) Undisputed Trade receivables - 269.08 601.83

considered good -

Undisputed Trade receivables -

(ii) which have significant increase
- - -
in credit risk

Undisputed Trade receivables -

(iii)
credit impaired - - -

Disputed Trade receivables -

(iv)
considered good - - -

Disputed Trade receivables -

(v) which have significant increase
- - -
in credit risk

Disputed Trade receivables -

(vi) 0.18
credit impaired - -

Total 269.08 602.01

-

Less : Allowance for trade

-0.01 -0.21
receivables -

Total 269.07 601.8

-

(II) Trade receivables

ageing schedule as at 31
March 2022

Unbilled
Particulars Not due Less than 6 months
dues

Undisputed Trade receivables -

(i) 524.44 163.53
considered good -

Undisputed Trade receivables -

(ii) which have significant increase
- - -
in credit risk

Undisputed Trade receivables -

(iii)
credit impaired - - -

Disputed Trade receivables -

(iv)
considered good - - -

249
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(v) Disputed Trade receivables -

which have significant increase - - -
in credit risk

Disputed Trade receivables -

(vi) 0.05
credit impaired - -

Total 524.44 163.58

-

Less : Allowance for trade

-0.01 -0.5
receivables -

Total 524.43 163.08

-

Table is continue..

Outstanding for following

periods from due date of
payment

6 months - 1 year 1 - 2 years 2 - 3 years More than 3 years Total

69.77 51.13 40.49 2 1034.3

-
- - - -

-
- - - -

-
- - - -

-
- - - -

1.59 5.03 1.53 20.56 28.89

71.36 56.16 42.02 22.56 1063.19

-5.03 -17.83 -42.02 -22.56 -87.66

66.33 38.33 975.53

- -

250
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Outstanding for following

periods from due date of
payment

6 months - 1 year 1 - 2 years 2 - 3 years More than 3 years Total

44.97 61.18 16.58 2.81 813.51

-
- - - -

-
- - - -

-
- - - -

-
- - - -

2.64 1.8 7.17 15.5 27.16

47.61 62.98 23.75 18.31 840.67

-4.43 -24.74 -23.75 -18.31 -71.74

43.18 38.24 768.93

- -

Notes:

Trade receivables are usually on trade terms based on credit worthiness of customers as per
(a)
the terms of contract with customers.

Neither trade nor other receivables are due from directors or other officers of the Group either
(b) severally or jointly with any other person, nor any trade or other receivables are due from firms
or private companies respectively in which any director is a partner, a director or a member.

(C) CASH AND CASH EQUIVALENTS

Balances with banks:

Current accounts (net) refer note (c) 71.54 36.86

Cash credit accounts 29.92 114.02

Deposits with original maturity of less than three months refer notes (b) and (d) 363.57 624.72

Cash on hand 0.13 0.24

251
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

465.16 775.84

Notes:

(a)There are no restrictions with regard to cash and cash equivalents as at the end of the reporting period and prior period.

(b)Short-term deposits are made for varying periods between one day to three months depending on the immediate cash
requirements of the Group and earn interest at the respective short-term deposits rates.

(c)Includes amount of Rs 0.47 crores ( March 31, 2022 Rs 0.15 cr ) related to Unspent CSR amount kept in separate bank
account as per provision of section 135(6) of Companies Act, 2013.

(d)Includes Fixed Deposit amounting Rs 1.03 crores ( March 31, 2022 Rs 0.96 crores ) related to Havells Employees Welfare
Trust.

(e)Change in liabilities arising from financing activities

Long Term Short Term Lease

Borrowing Borrowing Liabilities

March 31, March March 31, March March March

2023 31, 2022 2023 31, 2022 31, 2023 31, 2022

Opening balance 395.53 492.2 - - 220.87 130.66

Addition on account of new leases during the

- - - - 50.73 131.92
year refer Note 31(2)

Deletion on account of termination of leases

- - - - -4.1 -6.68
during the year refer Note 31(2)

Lease rent concession -0.12 -0.49

Cash inflow from borrowings - 0.04 - - - -

Cash outflows -393.69 -97.35 - - -44.28 -34.54

Interest expense 5.14 25.1 - - 18.35 14.89

Interest paid -6.98 -24.46 - - -18.35 -14.89

Closing balance 0 395.53 - - 223.1 220.87

Non-current Borrowing refer note 14 (A) - 272.57 - - - -

Non-current lease liability refer note 14 (B) - - - - 186.91 178.82

252
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Current maturity of long term borrowing refer - 122.96 - - - -

note 17 (A)

Current maturity of long term lease liability

- - - - 36.19 42.05
refer note 17 (B)

(D) OTHER BANK BALANCES

March 31, March 31,

2023 2022

Deposits account with original maturity of more than three months but expiring less than
551.59 72.07
twelve months refer notes (a) and (e)

Deposits account with original maturity of more than twelve months refer notes (b) and (d) 851.16 1,697.39

Unpaid dividend account refer note (c) 2.26 2.68

1405.01 1772.14

Notes:

The deposits maintained by the Group with banks comprise of the time deposits, which may be withdrawn by the Group
(a) at any point of time without prior notice and are made of varying periods between one day to twelve months depending
on the immediate cash requirements of the Group and earn interest at the respective short-term deposit rates.

Fixed deposit with original maturity of more than twelve months but remaining maturity of less than twelve months have
(b)
been disclosed under other bank balances.

(c) The Company can utilise the balance towards settlement of unclaimed dividend.

Includes Fixed Deposit amounting Rs 4.34 crores ( March 31, 2022 Rs 4.14 crores) related to Unspent CSR amount
(d)
kept in separate bank account as per provision of section 135(6) of Companies Act, 2013.

Includes Fixed Deposit amounting Rs 6.45 crores (March 31, 2022 Rs 4.82 crores) related to Havells Employees
(e)
Welfare Trust.

As at As at

March
March 31, 2023 31,
2022

Rs. in
Rs. in crores
crores

253
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(E) OTHER FINANCIAL ASSETS

(valued at amortised cost)

Unsecured, considered good

Earnest money and security

3.71 3.32
deposits

Contractual claims and other

113.18 26.57
receivables refer note (a)

116.89 29.89

Note :

Contractual claims and other

receivables includes claims in
(a)
accordance with contract with
vendors.

As at As at

March
March 31, 2023 31,
2022

Rs. in
Rs. in crores
crores

11.OTHER CURRENT ASSETS

Unsecured, considered good

Advances other than capital advances

Advances for materials and services 29.46 23.54

Others

Prepaid expenses 47.5 27.86

Duty free licenses in hand 4.19 2.4

Government grant receivable 4.98 9.34

Balance with Statutory and

92.39 50.51
Government authorities/Others

254
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

178.52 113.65

Movement of Government grant receivable

Opening balance 9.34 23.02

Accrual of grant related to income

(credited to statement of profit and 10.13 10.66
loss account) (refer note 21)

Grant related to asset realised -3.72

-

Grant related to income realised -14.49 -20.62

Closing Balance 4.98 9.34

Note:- Government grant receivable includes

export incentives, Budgetary support for refund of
Goods and Service Tax and investment subsidy.

12.ASSETS CLASSIFIED AS HELD FOR SALE

Property, plant and equipment

Assets retired from active use 10.53 0.73

10.53 0.73

As at As at

March 31, 2023 March 31, 2022

Rs. in crores Rs. in crores

14 NON CURRENT FINANCIAL LIABILITIES

255
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(A) BORROWINGS (valued at amortised cost)

Term loans from bank (secured) refer note (a) to (d) below - 395.49

Term loans others (secured) - 0.04

- 395.53

Less : Current maturity of long term borrowing refer note 17 (A) - 121.12

Less: Interest accrued ( included in current borrowing) - 1.84

Non-current portion - 272.57

Notes:

(a)The Group has availed secured loan of Rs Nil ( March 31, 2022: Rs 250 crores), carrying interest rate of (3 months TBill
rate plus (288 - 488 base points)) against the sanctioned term loan amount of Rs Nil (March 31, 2022: Rs 250 crores) from
CITI Bank N.A. The Group has repaid its loan during the year. The current outstanding amount against the loan is Rs Nil
(March 31, 2022: Rs 203.13 crores).The loan was obtained for the purpose of fresh capital expenditure and reimbursement of
prior capital expenditure incurred by the Group during the previous year .The term loan was repayable in 16 equated
quarterly instalments commencing from 15th month from first drawdown date of April 21, 2020. This term loan was secured
by way of first exclusive charge by way of a hypothecation over the Group's all movable fixed assets both present and future
situated at (i) SP 181 to 189 and 191 (A), Industrial Area, Phase II, Neemrana, Alwar, Rajasthan, India (ii) Unit-1 Village
Dharampur,Sai Road,Baddi,Dist Solan,Himachal Pradesh,(iii) Unit-II Village Gulerwala,Dist Solan ,Baddi,Himachal
Pradesh,(iv) Unit-I,Sector -10,Plot No 2A,BHEL Complex,Haridwar (v) Unit-II ,Plot No 2A and 2D/1 Sector-10,Sidcul Industrial
Area,Haridwar, Uttarakhand

(b )The Group has availed secured loan of Rs Nil (March 31, 2022: Rs 250 Crores) carrying interest rate of 4 - 6 %, against
the sanctioned amount of Rs Nil (March 31, 2022: Rs 350 crores) from HDFC Bank Limited. The Group has repaid its loan
during the year. The current outstanding amount against the loan is Rs Nil (March 31 ,2022: Rs 190.52 crores).The loan was
obtained for the purpose of fresh capital expenditure and reimbursement of prior capital expenditure incurred by the Group
during 12 months of first drawdown date of May 29, 2020. The term loan was repayable in quarterly instalments over the
period of 5 years as per terms of agreement starting from [1st Loan of Rs 120 Crores (June 2020- May 2025) and 2nd Loan
of Rs. 130 Crores (April 2021- May-2025)]. This loan was secured by way of first exclusive charge by way of a hypothecation
over the Group's all movable fixed assets, plant and machinery and all movable properties both present and future situated at
(i) A-461/462,SP-215 and 204 & 204A ,Matsya Industrial Area, Alwar, Rajasthan and (ii) SP-1-133,General Zone ,RIICO
Industrial Area, Ghiloth.

(c )The Group was required to maintain the Debt Covenants i.e., Fixed assets coverage ratio, Debt service coverage ratio,
gearing ratio, leverage ratio and interest coverage ratio and Group had complied with all such covenants in the previous year
i.e. March 31, 2022 .

(d )During the previous year, The Company had borrowings from banks and financial institutions on the basis of security of
current assets. The Company had complied with the requirement of filing of monthly/ quarterly returns/statements of current
assets with the banks or financial institutions, as applicable, and these returns were in agreement with the books of accounts
for the year ended March 31, 2022. During the year, the Company has not been sanctioned working capital limits in excess of
` 5 crores, in aggregate from banks and financial institutions on the basis of security of current assets and accordingly, the
quarterly returns or statements are not required to be filed with banks or financial institutions.

(e )As on the balance sheet date there is no default in repayment of loans and interest.

256
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(f )The borrowings obtained by the Group from banks and financial institutions had been applied for the purposes for which
such loans were taken. In respect of the term loans which were taken in the previous years, those were applied in the
respective years for the purpose for which the loans were obtained.

(g)There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory
period.

(B) LEASE LIABILITIES

Lease Liabilities refer note 31(2) 186.91 178.82

186.91 178.82

(C) OTHER FINANCIAL LIABILITIES (valued at amortised cost)

Employees payable pursuant to employee stock purchase plan 0.54 0.56

Long Term Employee Retention scheme 0.67 0.66

Employees ownership plan 3.23 -

Other Liabilities (retention money) 2.77 2.74

7.21 3.96

15 NON CURRENT PROVISIONS

As at As at

March 31, 2023 March 31, 2022

Rs. in crores Rs. in crores

Provision for Gratuity 4.15 -

Product warranties and E-waste Refer note 18(a) 132.57 76.25

136.72 76.25

257
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

16 INCOME TAXES

The major components of income tax expense for the year ended
March 31, 2023 and March 31, 2022 are:

(a) Income tax expense in the statement of profit and loss comprises :

Current tax charge 361.2 408.83

Adjustment in respect of current tax of previous year 3.24 -10.25

Total current income tax 364.44 398.58

Deferred tax charge / (credit)

Relating to origination and reversal of temporary differences 10.89 11.51

Income tax expense reported in the statement of profit or loss 375.33 410.09

(b) Other Comprehensive Income

Current income tax related to items recognised in OCI during the year:

Current income tax on re-measurement loss on defined benefit plans 2.58 -1.86

Income tax related to items recognised in OCI during the year 2.58 -1.86

(c) Reconciliation of tax expense and the accounting profit multiplied by

India’s domestic tax rate :

Accounting Profit before tax 1,447.06 1,606.56

Applicable tax rate 25.168% 25.168%

Computed Tax Expense 364.2 404.34

258
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Expenses not allowed for tax purpose 8.53 6.02

Additional allowances for tax -0.08 -0.03

Provisions for litigation 2.97

-

Utilisation of previously unrecognised tax losses -0.24

-

Others -0.29
-

Income tax charged to Statement of Profit and Loss at effective rate of

375.33 410.09
25.94% (March 31, 2022: 25.53%) Refer Note (ii) below

(d) Deferred tax liabilities comprises :

Balance Statement of profit

Sheet and loss

As at As at Year end Year end

March 31, March 31,

March 31, 2023 March 31, 2023
2022 2022

Rs in Rs in
Rs in crores Rs in crores
crores crores

Accelerated depreciation for tax purposes 393.84 382.72 11.12 14.09

Right of Use as per Ind AS 116 52.68 52.79 -0.11 21.86

Lease liability as per Ind AS 116 -56.15 -55.59 -0.56 -22.71

Expenses allowable on payment basis -9.82 -12.69 2.87 -1.04

Allowance for doubtful debts -22.06 -18.04 -4.02 -0.59

Other Items giving rise to temporary differences 3.02 1.43 1.59 -0.1

Deferred tax liabilities (net) 361.51 350.62 10.89 11.51

259
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(e) Deferred tax liabilities (net) As at As at

March 31, March 31,

2023 2022

Rs in Rs in
crores crores

Opening balance as per last balance sheet 350.62 339.11

Deferred tax charged/(credited) to profit and loss

3.17 3.1
account during the year

Adjustment in respect of deferred tax of previous

7.72 8.41
year

Closing balance 361.51 350.62

Notes:

(i)The Group has unabsorbed capital loss of Rs. 390.84 crores as on March 31, 2023 (March 31, 2022: Rs 369.61 crores) out
of which capital loss of Rs 219.75 crores will expire in financial year 2023-24, capital loss of Rs 122.30 crores will expire in
financial year 2025-26, capital loss of Rs 27.51 crores will expire in financial year 2029-30 and capital loss of Rs 21.27
crores will expire in financial year 2030-31, on which no deferred tax asset has been created by the management due to lack
of probability of future capital gain against which such deferred tax assets can be realised. If the Group were able to
recognise all unrecognised deferred tax assets, the profit after tax would have increased by Rs. 89.28 crores (March 31,
2022: Rs 84.56 Crore).

(ii)Effective tax rate has been calculated on profit before tax.

As at As at

March 31, March 31,

2023 2022

Rs. in crores Rs. in crores

17 CURRENT FINANCIAL LIABILITIES

(A) Short Term Borrowings

Current maturities of long term borrowings (Refer note 14(A)) - 121.12

Add: Interest accrued - 1.84

260
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

- 122.96

(B) Lease Liabilities

Current maturities of Lease liability refer note 31(2) 36.19 42.05

36.19 42.05

(C) TRADE PAYABLES

Total outstanding dues of micro enterprises and small enterprises; and 154.96 114.08

Total outstanding dues of creditors other than micro enterprises and small
2,488.23 2,265.94
enterprises

2,643.19 2,380.02

Trade payables ageing

schedule as at 31 March
2023

Outstanding for following

periods from due date of
payment

Particulars Unbilled dues Not due Less than 1 year

(i) MSME - 149.25 5.71

(ii) Others 120.11 2,168.34 188.62

Disputed
(iii) dues - -
- -
MSME

Disputed
(iv) dues - -
- -
Others

Total 120.11 2317.59 194.33

Trade payables ageing

261
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

schedule as at 31 March
2022

Outstanding for following

periods from due date of
payment

Particulars Unbilled dues Not due Less than 1 year

(i) MSME - 112.68 1.4

(ii) Others 83.02 1,971.00 207.24

Disputed
(iii) dues - - - -
MSME

Disputed
(iv) dues - - - -
Others

Total 83.02 2,083.68 208.64

Table is continue..

1-2 years 2-3 years More than 3 years Total

- - - 154.96

9.77 - - 2,486.84

- - - -

- - 1.39 1.39

9.77 - 1.39 2643.19

1-2 years 2-3 years More than 3 years Total

- - - 114.08

3.29 - - 2264.55

262
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

- - - -

- - 1.39 1.39

3.29 - 1.39 2380.02

Notes:

(i) Trade Payables include due to related parties Rs 16.00 crores (March 31,
2022 : Rs.16.92 crores) refer note 31(5)(D)

(ii) The amounts are unsecured and non interest-bearing and are usually on
varying trade term.

(iii) For terms and conditions with related parties. refer to note 31(5)

(iv) The amounts falling in the category of more than 1 year are related to
pending obligations on the part of the supplier as per agreed terms and
conditions mentioned in respective contracts.

a) Information as required to be furnished as per section 22 of the Micro,

Small and Medium Enterprises Development Act, 2006 (MSMED Act) for the
year ended March 31, 2023 is given below. This information has been
determined to the extent such parties have been identified on the basis of
information available with the Group.

March 31, 2023 March 31, 2022

i) Principal amount and interest due thereon remaining unpaid to any supplier
covered under MSMED Act, 2006 as at the end of each accounting year

Principal 154.96 114.08

Interest
- -

ii) The amount of interest paid by the buyer in terms of section 16, of the
MSMED Act, 2006 along with the amounts of the - -

payment made to the supplier beyond the appointed day during each
accounting year.

iii) The amount of interest due and payable for the period of delay in making
payment (which have been paid but beyond the appointed day during the
- -
year) but without adding the interest specified under MSMED Act, 2006

iv) The amount of interest accrued and remaining unpaid at the end of each
accounting year. - -

v) The amount of further interest remaining due and payable even in the

263
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

succeeding years, until such date when the interest dues as above are
actually paid to the small enterprise for the purpose of disallowance as a - -
deductible expenditure under section 23 of the MSMED Act, 2006.

The total dues of Micro and Small Enterprises which were outstanding for
more than stipulated period are Rs. Nil (March 31, 2022 : Rs. Nil) - -

As at As at

March 31, 2023 March 31, 2022

Rs. in crores Rs. in crores

(D) OTHER FINANCIAL LIABILITIES (valued at amortised cost)

Unpaid dividend refer note (a) 2.26 2.68

Other payables

Employees payable pursuant to employee stock purchase plan

Long Term Employee Retention Scheme 2.04 2.06

Creditors for capital goods 45.3 21.47

Deposits from customers 48.48 45.55

Retention Money 18.62 9.43

Other liabilities

Employee benefit obligations 121.54 110.25

Interest accrued 5.94

-

Sales incentives payable 381.23 319.29

Others refer note (b) 5.38 8.81

624.85 525.48

Notes:

Investor Education and Protection Fund is being credited by

the amount of unclaimed dividend after seven years from the
due date. The Group has transferred Rs 0.26 crores (March
a) 31,2022 : Rs.0.26 crores) out of unclaimed dividend to Investor

264
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Education and Protection Fund of Central Government in

accordance with the provisions of section 124 of the
Companies Act, 2013.

Other includes amount against E-waste liability refer note

b)
18(a)(ii).

18 CURRENT PROVISIONS As at As at

March 31, 2023 March 31,2022

Rs. in crores Rs. in crores

i) Provision for employee benefits

Gratuity refer note no. 31(3) 31.21 8.65

(A) 31.21 8.65

ii) Other provisions

Product warranties refer note (a) 237 237.3

Litigations refer note (b) 6.7 7.28

(B) 243.7 244.58

(A)
+ 274.91 253.23
(B)

a) Provision for warranties

(i) Warranties

A provision is recognized for expected warranty claims and

after sales services on products sold during the last one to
seven years, based on past experience of the level of repairs
and defective returns. It is expected that significant portion of
these costs will be incurred in the next financial year and all
will be incurred within seven years after the reporting date.
Assumptions used to calculate the provisions for warranties
are based on current sales levels and current information
available about defective returns based on one to seven years

265
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

warranty period for all products sold and are consistent with
those in the prior years. The assumptions made in relation to
the current year are consistent with those in the prior year.

The table below gives information about movement in

(ii)
Warranty and E-waste provisions:

As at April 01, 2022 313.55 284.8

Charged/(credited) to profit or loss

- additional provisions recognized (refer note 29) 292.44 211.27

- unused amounts reversed

- -

- unwinding of discount refer note no. 27 5.78 6.24

Amounts used during the period -242.2 -188.76

As at March 31, 2023 369.57 313.55

Current portion 237 237.3

Non-current portion (refer note no. 15) 132.57 76.25

b) Provision for litigations

Provision for litigation amounting to Rs. 6.70 Crores (March

31, 2022: Rs.7.28 Crores) is created against demands raised
in various ongoing litigations in ordinary course of business.
Based on the facts of the case and legal precedents ,the
management believes there would be a probable outflow of
resources and accordingly, has created a provision in books of
account.

The table below gives information about movement in litigation

provisions:

As at April 01, 2022 7.28 12.93

266
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Charged/(credited) to profit or loss 2.97

-

Amounts used during the period -3.55 -5.65

As at March 31, 2023 6.7 7.28

Current portion 6.7 7.28

Non-current portion
- -

Note: No additional provisions were recognised during the year

19 CURRENT TAX LIABILITIES

Current tax liabilities (net of advance tax and tax deducted at

source amounting to Rs 334.38 crores (March 31, 2022 Rs 32.26 62.83
346.86 crores)

32.26 62.83

20 OTHER CURRENT LIABILITIES

Advance against Land 0.5

-

Others

Goods and Services Tax Payable 55.69 123.45

Other statutory dues payable 83.53 66.06

139.72 189.51

267
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (16)

Nature of other provisions

a) Provision for warranties

(i) Warranties

A provision is recognized for expected warranty claims and after sales services on products sold during the last one to seven years, based on
past experience of the level of repairs and defective returns. It is expected that significant portion of these costs will be incurred in the next
financial year and all will be incurred within seven years after the reporting date.
Assumptions used to calculate the provisions for warranties are based on current sales levels and current information
available about defective returns based on one to seven years warranty period for all products sold and are consistent with those in the prior
years. The assumptions made in relation to the current year are consistent with those in the prior year.

Textual information (17)

Nature of other provisions

a) Provision for warranties

(i) Warranties

A provision is recognized for expected warranty claims and after sales services on products sold during the last one to seven
years, based on past experience of the level of repairs and defective returns. It is expected that significant portion of these
costs will be incurred in the next financial year and all will be incurred within seven years after the reporting date.
Assumptions used to calculate the provisions for warranties are based on current sales levels and current information
available about defective returns based on one to seven years warranty period for all products sold and are consistent with
those in the prior years. The assumptions made in relation to the current year are consistent with those in the prior year.

268
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[401200] Notes - Additional disclosures on balance sheet

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (18)
Disclosure of additional balance sheet notes explanatory [TextBlock] [See below]
Additional balance sheet notes [Abstract]
Contingent liabilities and commitments [Abstract]
Classification of contingent liabilities [Abstract]
Claims against company not acknowledged as debt (A) 6.83 (B) 7.07
Other money for which company is contingently liable (C) 54.71 (D) 74.88
Total contingent liabilities 61.54 81.95
Classification of commitments [Abstract]
Estimated amount of contracts remaining to be executed on
capital account and not provided for (E) 476.73 (F) 59.27
Total commitments 476.73 59.27
Total contingent liabilities and commitments 538.27 141.22
Details regarding dividends [Abstract]
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
[INR/shares] 0 [INR/shares] 0
shareholders
Details of deposits [Abstract]
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Details of share application money received and paid [Abstract]
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year [pure] 0 [pure] 0
Number of person share application money received during year [pure] 0 [pure] 0
Number of person share application money paid as at end of year [pure] 0 [pure] 0
Number of person share application money received as at end of year [pure] 0 [pure] 0
Share application money received and due for refund 0 0
Details regarding cost records and cost audit[Abstract]
Details regarding cost records [Abstract]
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, Yes Yes
2014
If yes, Central Excise Tariff Act, heading in which product/ Textual information (19) Textual information (20)
service is covered under cost records [See below] [See below]
Details regarding cost audit [Abstract]
Whether audit of cost records of company has been mandated
Yes Yes
under Rules specified in SN 1
If yes, Central Excise Tariff Act, heading in which product/ Textual information (21) Textual information (22)
service is covered under cost audit [See below] [See below]
Net worth of company 6,625.45 6,002.89
Details of unclaimed liabilities [Abstract]
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Financial parameters balance sheet items [Abstract]
Investment in subsidiary companies 0 0
Investment in government companies 0 0
Amount due for transfer to investor education and protection fund
0 0
(IEPF)
Gross value of transactions with related parties 59.1 16.92
Number of warrants converted into equity shares during period [pure] 0 [pure] 0
Number of warrants converted into preference shares during period [pure] 0 [pure] 0
Number of warrants converted into debentures during period [pure] 0 [pure] 0

269
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Number of warrants issued during period (in foreign currency) [pure] 0 [pure] 0
Number of warrants issued during period (INR) [pure] 0 [pure] 0

Footnotes
(A)
Particulars 2022-23

Claims / Suits filed against the Group not acknowledged as debts ( Refer point (i)) 6.83

(B)
Particulars 2021-22

Claims / Suits filed against the Group not acknowledged as debts ( Refer point (i)) 7.07

(C)
Particulars 2022-23

Disputed tax liabilities in respect of pending litigations before appellate authorities 54.71

(D)
Particulars 2021-22

Disputed tax liabilities in respect of pending litigations before appellate authorities 74.88

(E)
Particulars 2022-23

Estimated amount of capital contracts remaining to be executed and not provided for (Net of Advances
476.73
amounting to Rs 52.52 crores (March 31, 2022: Rs 7.45 crores))

(F)
Particulars 2021-22

Estimated amount of capital contracts remaining to be executed and not provided for (Net of Advances
59.27
amounting to Rs 52.52 crores (March 31, 2022: Rs 7.45 crores))

270
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (18)

Disclosure of additional balance sheet notes explanatory [Text Block]

31 OTHER NOTES ON ACCOUNTS

During the year, the Group has capitalised the following expenses directly relatable to the cost of property, plant and
1 equipment, being expenses related to projects and development of Dies and Fixtures. Consequently, expenses
disclosed under the respective notes are net of amounts capitalised by the Group.

(Rs. in Crores)

Year ended Year ended

Particulars March 31, 2023 March 31, 2022

Cost of material consumed 13.33 11.35

Employee benefits expense* 11.76 6.61

Other expenses 4.83 0.56

29.92 18.52

*Employee benefits expense includes overheads

7 Corporate Social Responsibility

As per provisions of section 135 of the Companies Act, 2013, the Group has to incur at least 2% of average net profits of
the preceding three financial years towards Corporate Social Responsibility ("CSR"). Accordingly, a CSR committee has
been formed for carrying out CSR activities as per the Schedule VII of the Companies Act, 2013. Details are as under:

Details of CSR Expenditure:

Particulars Year ended Year ended

March 31, March 31,

2023 2022

Contribution to Reimagining Higher Education Foundation for building educational

271
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

infrastructure 13 11

Contribution to QRG Foundation for providing mid day meal, promotion of sanitation &
9.7 3.63
hygiene and free coaching

Contribution to Aga Khan Foundation for protection of national heritage - 4.12

Others: for development of healthcare infrastructure, tree plantation, etc. 4.19 4.13

Accrual towards unspent obligation in relation to

Ongoing Project - -

Other than ongoing Project - -

Total 26.89 22.88

Add : Carried forward from previous year 0.72 1.5

Less: Excess spent during the year to be carry forward to next year 0.93 0.72

Amount recognised in Statement of Profit and Loss 26.68 23.66

Amount required to be spent as per section 135 of the Act 26.68 23.66

Amount approved by the Board to be spent during the year 26.68 23.66

Amount spent during the year on

(i) Construction/ acquisition of assets 14.55 -

(ii) Contribution to Trust/Universities/Society 8.3 15.19

(iii) On purpose other than above 4.04 7.69

Total Amount Spent 26.89 22.88

Excess spent from previous year utilised during the current year 0.72 1.5

Amount yet to be spent - -

Total 27.61 24.38

Less: Excess spent during the year to be carry forward to next year 0.93 0.72

272
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Total 26.68 23.66

Details of ongoing CSR projects under

Section 135(6) of the Act

Amount required to be spent

Year Opening Balance
during the year

With the In Separate CSR

Group Unspent A/c

FY
- - 16
2020-21

FY
- 12.00 -
2021-22

FY2022-23 - 8.00 -

Table is continue..

Amount spent during the Closing

year Balance

From Separate CSR Unspent In Separate CSR Unspent

From Group’s bank account With the Group
account account

4.00 - 12 -

- 4.00 - 8.00

- 4.00 - 4.00

Note:The group had earned an interest of INR 0.41 crores (0.48 crores in March 2022) on the funds in CSR unspent bank
account during the year, which is proposed to be spent in FY 2023-24 on ongoing project.

Details of CSR expenditure under Section 135(5) of the Act in respect of unspent amount other than ongoing projects

Opening Amount deposited in Specified Fund of Schedule Amount required to Amount Closing
Year
Balance VII of the Act within 6 months be spent during spent Balance

during
unspent the year unspent
the year

FY
- - 23.66 23.66 -
2021-22

273
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

FY2022-23 - - 26.68 26.68 -

Details of excess CSR expenditure under

Section 135(5) of the Act

Opening balance Amount required to be Amount Closing balance

Year
excess spent spent during the year spent excess spent

during
the year

FY 2021-22 1.5 23.66 22.88 0.72

FY2022-23 0.72 26.68 26.89 0.93

Year Year
12 Dividend Paid and Proposed
ended ended

March March
31, 31,
2023 2022

Dividend declared and paid during the year:

Final Dividend of Rs 4.50 per share for FY 2021-22 (Rs 3.50 per share for FY 2020-21) 281.93 219.21

Interim dividend of Rs 3.00 per share for FY 2022-23 (Rs 3.00 per share for FY 2021-22) 187.95 187.89

469.88 407.1

Proposed Dividends on equity shares:

Final Dividend recommended by the board of directors for the year ended March 31, 2023 Rs.4.50
per share of Re 1 each (March 31, 2022: Rs 4.50 per share of Re 1 each) subject to approval of 281.93 281.84
shareholders in the ensuing annual general meeting.

281.93 281.84

13.Fire Incident in Neemrana Plant

There was a fire at Neemrana plant of the Group in July 2022 resulting in destruction/ damage of property, plant and
equipment and inventories with book value of ` 47.53 crores and ` 64.99 crores respectively. The loss aggregating to

` 112.52 crores has been accounted for in the books and disclosed as “Exceptional Items” in the consolidated statement of
profit and loss. The process relating to filing of claim with the insurance company has been completed for property, plant

and equipment and subsequent to the year-end, the Group has received interim payment amounting to ` 23.98 crores. The
process of filing the surveyor report in respect of claim for inventories is in progress. The Group has adequate insurance

274
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

coverage for the aforesaid loss and based on its assessment of the loss and the terms and conditions of the insurance
policies, the claim is fully admissible. Accordingly, ` 112.52 crores has been disclosed as part of “Exceptional Items” in the

consolidated statement of profit and loss. Also refer to Note 10 (E).”

14.The Group has not been declared as a Wilful Defaulter by any bank or financial institution or government or any
government authority.

Struck off Companies: Details of relationship with Companies struck off under Section 248 of Companies Act, 2013 or
15
Section 560 of the Companies Act, 1956:

Nature of transaction Balance outstanding Balance outstanding Relation with

Name of the struck off
with struck off as at March 31, 2023 as at March 31, 2022 struck off
Company
Company (Nos.) (Nos.) Company

Shares held by 35 number of shares 35 number of shares

Manilal Patel Private Limited Shareholder
struck off Company of Rs 1/- each of Rs 1/- each

(CIN:
U17110MH1947PTC005911)

MULTITECH SYSTEM
INDUSTRIAL AUTOMAT Purchase Rs 0.01 crore - Vendor
PRIVATE LIMITED

U28910TN2014PTC097924

Naveli Decor Pvt. Ltd. Sales Rs 0.04 crore - Customer

U52609UP2017PTC099523

Apostle Solutions Private

Sales Rs 0.00 crore Rs 0.01 crore Customer
Limited

U74110UP2007PTC032990

Samadhan Srbh Opc Private

Sales Rs 0.00 crore - Customer
Limited

U74999UP2020OPC126709

Extreme Automation Pvt Ltd Sales Rs 0.08 crore Rs 0.08 crore Customer

U29220PN2010PTC135444

Ramesh Sales Corporation

Sales Rs 0.21 crore Rs 0.21 crore Customer
Pvt.Ltd.

U52390DL2014PTC266899

275
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

16.Additional regulatory information required by Schedule III of Companies Act, 2013

(i)Details of Benami property: No proceedings have been initiated or are pending against the Group for holding any Benami
property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

(ii)"Utilisation of borrowed funds and share premium:

The Group has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:

a)directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Group (Ultimate Beneficiaries) or

b)provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

The Group has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Group shall:

a)directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Funding Party (Ultimate Beneficiaries) or

b)provide any guarantee, security or the like on behalf of the ultimate beneficiaries"

(iii)Compliance with number of layers of companies: The Group has complied with the number of layers prescribed under the
Companies Act, 2013.

(iv)Compliance with approved scheme(s) of arrangements: The Group has not entered into any scheme of arrangement
which has an accounting impact on current or previous financial year.

(v)"Undisclosed income: There is no income surrendered or disclosed as income during the current or previous year in the
tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.

(vi)Details of crypto currency or virtual currency: The Group has not traded or invested in crypto currency or virtual currency
during the current or previous year.

(vii)Valuation of PP&E, intangible asset and investment property: The Group has not revalued its property, plant and
equipment (including right-of-use assets) or intangible assets or both during the current or previous year.

(viii)The Group has not granted any loans or advances in the nature of loans either repayable on demand.

17.The figures have been rounded off to the nearest crore of rupees upto two decimal places. The figure 0.00 wherever
stated represents value less than Rs. 50,000/-.

18.Note No.1 to 31 form integral part of the Consolidated Balance Sheet and Consolidated Statement of Profit and Loss.

276
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (19)

If yes, Central Excise Tariff Act, heading in which product/ service is covered under cost records

CTA CTA Whether covered

Name of
S.No Vertical UOM heading (Wherever heading (Wherever under cost
product(s)/Service(s)
applicable) applicable) audit YES/NO

Electricals or
1 Cable & Wire KM 85446090 8544 Yes
electronic machinery

Electricals or
2 Cable & Wire KM 85444999 8544 Yes
electronic machinery

Electricals or
3 Cable & Wire KM 85444220 8544 Yes
electronic machinery

Electricals or
4 Cable & Wire KM 85444920 8544 Yes
electronic machinery

5 Other machinery FAN Nos. 84145120 8414 Yes

6 Other machinery FAN Nos. 84145190 8414 Yes

7 Other machinery FAN Nos. 84145130 8414 Yes

8 Other machinery FAN Nos. 84145110 8414 Yes

9 Other machinery FAN Nos. 84145910 8414 Yes

10 Other machinery Fan Regulator Nos. 84149030 8414 Yes

Electricals or
11 switchgear Nos. 85362030 8536 Yes
electronic machinery

Electricals or
12 switchgear Nos. 85365020 8536 Yes
electronic machinery

Electricals or
13 switchgear Nos. 85365090 8536 Yes
electronic machinery

Electricals or
14 switchgear Nos. 85366110 8536 Yes
electronic machinery

Electricals or
15 switchgear Nos. 85362020 8536 Yes
electronic machinery

277
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

16 Electricals or switchgear Nos. 85389000 8538 Yes

electronic machinery

Electricals or
17 switchgear Nos. 85362090 8536 Yes
electronic machinery

Electricals or
18 capacitor Nos. 85321000 8532 Yes
electronic machinery

Electricals or
19 switchgear Nos. 85369010 8536 Yes
electronic machinery

Electricals or
20 switchgear Nos. 85362010 8536 Yes
electronic machinery

Electricals or
21 switchgear Nos. 85361020 8536 Yes
electronic machinery

Electricals or
22 switchgear Nos. 85318000 8531 Yes
electronic machinery

Electricals or
23 switchgear Nos. 85369030 8536 Yes
electronic machinery

Electricals or
24 switchgear Nos. 85366990 8536 Yes
electronic machinery

Electricals or
25 switchgear Nos. 85311090 8531 Yes
electronic machinery

Electricals or
26 switchgear Nos. 85369090 8536 Yes
electronic machinery

Electricals or
27 switchgear Nos. 85354030 8535 Yes
electronic machinery

28 Others switchgear Nos. 85371000 8537 No

Electricals or
29 switchgear Nos. 85361010 8536 Yes
electronic machinery

Electricals or
30 switchgear Nos. 85366910 8536 Yes
electronic machinery

Electricals or
31 switchgear Nos. 85361030 8536 Yes
electronic machinery

Electricals or
32 switchgear Nos. 85364900 8536 Yes
electronic machinery

Electricals or
33 switchgear Nos. 85329000 8532 Yes
electronic machinery

Electricals or
34 switchgear Nos. 85364100 8536 Yes
electronic machinery

278
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

35 Plastic & polymer switchgear Nos. 39219099 3921 Yes

36 Others switchgear Nos. 91070000 9107 No

Electricals or
37 switchgear Nos. 85362040 8536 Yes
electronic machinery

Electricals or
38 Moto & Pump Nos. 85015210 8501 Yes
electronic machinery

39 Other machinery Moto & Pump Nos. 84137010 8413 Yes

Electricals or
40 Moto & Pump Nos. 85014090 8501 Yes
electronic machinery

Electricals or
41 Moto & Pump Nos. 85015310 8501 Yes
electronic machinery

Electricals or
42 Moto & Pump Nos. 85015110 8501 Yes
electronic machinery

43 Other machinery Moto & Pump Nos. 84139120 8413 Yes

Electricals or
44 Moto & Pump Nos. 85030029 8503 Yes
electronic machinery

45 Other machinery Water RO Nos. 84212120 8421 Yes

Water RO
46 Other machinery Nos. 84219900 8421 Yes
-Spares

Electricals or
47 switchgear Nos. 85044030 8504 Yes
electronic machinery

Electricals or
48 Lighting Nos. 85041090 8504 Yes
electronic machinery

Electricals or
49 Lighting Nos. 85393230 8539 Yes
electronic machinery

Electricals or
50 Lighting Nos. 85393220 8539 Yes
electronic machinery

51 Others Lighting Nos. 94054090 9405 No

52 Others Lighting Nos. 94051090 9405 No

53 Others Lighting Nos. 94059900 9405 No

Electricals or
54 Lighting Nos. 85395000 8539 Yes
electronic machinery

279
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

55 Other machinery cooler Nos. 84799090 8479 Yes

56 Other machinery cooler Nos. 84796000 8479 Yes

Electricals or
57 Lighting Nos. 85393110 8539 Yes
electronic machinery

58 Others Water Heater Nos. 85161000 8516 No

59 Others Appliances Nos. 85094010 8509 No

60 Others Appliances Nos. 85162900 8516 No

61 Others Appliances Nos. 85164000 8516 No

Appliances
62 Others Nos. 85099000 8509 No
-Spares

63 Others Water Heater Nos. 85169000 8516 No

64 Other machinery AC Nos. 84151010 8415 Yes

65 Other machinery AC - TOWER Nos. 84158290 8415 Yes

66 Others Appliances Nos. 85166000 8516 No

67 Others Appliances Nos. 85094090 8509 No

AC - 2 TON &
68 Other machinery Nos. 84158210 8415 Yes
ABOVE

AC
69 Other machinery Nos. 84159000 8415 Yes
-Spares(Others)

AC -SPARES
70 Other machinery (GAS Nos. 84148011 8414 Yes
COMPRESSOR)

AC -SPARES
71 Others Nos. 90329000 9032 No
(COIL SENSOR)

Electricals or AC
72 Nos. 85012000 8501 Yes
electronic machinery -Spares(Motor)

Electricals or AC - Spares
73 Nos. 85437099 8543 Yes
electronic machinery (Remote)

AC - Spares
74 Other machinery Nos. 84145920 8414 Yes
(Blower)

75 Others switchgear Nos. 90319000 9031 No

280
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

76 Others switchgear Nos. 90318000 9031 No

Electricals or
77 switchgear Nos. 85049090 8504 Yes
electronic machinery

Electricals or
78 Lighting Nos. 85395200 8539 Yes
electronic machinery

washing
79 Other machinery Nos. 84501200 8450 Yes
Machine

Electricals or
80 switchgear Nos. 85363000 8536 Yes
electronic machinery

281
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (20)

If yes, Central Excise Tariff Act, heading in which product/ service is covered under cost records

CTA CTA Whether covered

Name of
S.No Vertical UOM heading (Wherever heading (Wherever under cost
product(s)/Service(s)
applicable) applicable) audit YES/NO

Electricals or
1 Cable & Wire KM 85446090 8544 Yes
electronic machinery

Electricals or
2 Cable & Wire KM 85444999 8544 Yes
electronic machinery

Electricals or
3 Cable & Wire KM 85444220 8544 Yes
electronic machinery

Electricals or
4 Cable & Wire KM 85444920 8544 Yes
electronic machinery

5 Other machinery FAN Nos. 84145120 8414 Yes

6 Other machinery FAN Nos. 84145190 8414 Yes

7 Other machinery FAN Nos. 84145130 8414 Yes

8 Other machinery FAN Nos. 84145110 8414 Yes

9 Other machinery FAN Nos. 84145910 8414 Yes

10 Other machinery Fan Regulator Nos. 84149030 8414 Yes

Electricals or
11 switchgear Nos. 85362030 8536 Yes
electronic machinery

Electricals or
12 switchgear Nos. 85365020 8536 Yes
electronic machinery

Electricals or
13 switchgear Nos. 85365090 8536 Yes
electronic machinery

Electricals or
14 switchgear Nos. 85366110 8536 Yes
electronic machinery

Electricals or
15 switchgear Nos. 85362020 8536 Yes
electronic machinery

282
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

16 Electricals or switchgear Nos. 85389000 8538 Yes

electronic machinery

Electricals or
17 switchgear Nos. 85362090 8536 Yes
electronic machinery

Electricals or
18 capacitor Nos. 85321000 8532 Yes
electronic machinery

Electricals or
19 switchgear Nos. 85369010 8536 Yes
electronic machinery

Electricals or
20 switchgear Nos. 85362010 8536 Yes
electronic machinery

Electricals or
21 switchgear Nos. 85361020 8536 Yes
electronic machinery

Electricals or
22 switchgear Nos. 85318000 8531 Yes
electronic machinery

Electricals or
23 switchgear Nos. 85369030 8536 Yes
electronic machinery

Electricals or
24 switchgear Nos. 85366990 8536 Yes
electronic machinery

Electricals or
25 switchgear Nos. 85311090 8531 Yes
electronic machinery

Electricals or
26 switchgear Nos. 85369090 8536 Yes
electronic machinery

Electricals or
27 switchgear Nos. 85354030 8535 Yes
electronic machinery

28 Others switchgear Nos. 85371000 8537 No

Electricals or
29 switchgear Nos. 85361010 8536 Yes
electronic machinery

Electricals or
30 switchgear Nos. 85366910 8536 Yes
electronic machinery

Electricals or
31 switchgear Nos. 85361030 8536 Yes
electronic machinery

Electricals or
32 switchgear Nos. 85364900 8536 Yes
electronic machinery

Electricals or
33 switchgear Nos. 85329000 8532 Yes
electronic machinery

Electricals or
34 switchgear Nos. 85364100 8536 Yes
electronic machinery

283
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

35 Plastic & polymer switchgear Nos. 39219099 3921 Yes

36 Others switchgear Nos. 91070000 9107 No

Electricals or
37 switchgear Nos. 85362040 8536 Yes
electronic machinery

Electricals or
38 Moto & Pump Nos. 85015210 8501 Yes
electronic machinery

39 Other machinery Moto & Pump Nos. 84137010 8413 Yes

Electricals or
40 Moto & Pump Nos. 85014090 8501 Yes
electronic machinery

Electricals or
41 Moto & Pump Nos. 85015310 8501 Yes
electronic machinery

Electricals or
42 Moto & Pump Nos. 85015110 8501 Yes
electronic machinery

43 Other machinery Moto & Pump Nos. 84139120 8413 Yes

Electricals or
44 Moto & Pump Nos. 85030029 8503 Yes
electronic machinery

45 Other machinery Water RO Nos. 84212120 8421 Yes

Water RO
46 Other machinery Nos. 84219900 8421 Yes
-Spares

Electricals or
47 switchgear Nos. 85044030 8504 Yes
electronic machinery

Electricals or
48 Lighting Nos. 85041090 8504 Yes
electronic machinery

Electricals or
49 Lighting Nos. 85393230 8539 Yes
electronic machinery

Electricals or
50 Lighting Nos. 85393220 8539 Yes
electronic machinery

51 Others Lighting Nos. 94054090 9405 No

52 Others Lighting Nos. 94051090 9405 No

53 Others Lighting Nos. 94059900 9405 No

Electricals or
54 Lighting Nos. 85395000 8539 Yes
electronic machinery

284
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

55 Other machinery cooler Nos. 84799090 8479 Yes

56 Other machinery cooler Nos. 84796000 8479 Yes

Electricals or
57 Lighting Nos. 85393110 8539 Yes
electronic machinery

58 Others Water Heater Nos. 85161000 8516 No

59 Others Appliances Nos. 85094010 8509 No

60 Others Appliances Nos. 85162900 8516 No

61 Others Appliances Nos. 85164000 8516 No

Appliances
62 Others Nos. 85099000 8509 No
-Spares

63 Others Water Heater Nos. 85169000 8516 No

64 Other machinery AC Nos. 84151010 8415 Yes

65 Other machinery AC - TOWER Nos. 84158290 8415 Yes

66 Others Appliances Nos. 85166000 8516 No

67 Others Appliances Nos. 85094090 8509 No

AC - 2 TON &
68 Other machinery Nos. 84158210 8415 Yes
ABOVE

AC
69 Other machinery Nos. 84159000 8415 Yes
-Spares(Others)

AC -SPARES
70 Other machinery (GAS Nos. 84148011 8414 Yes
COMPRESSOR)

AC -SPARES
71 Others Nos. 90329000 9032 No
(COIL SENSOR)

Electricals or AC
72 Nos. 85012000 8501 Yes
electronic machinery -Spares(Motor)

Electricals or AC - Spares
73 Nos. 85437099 8543 Yes
electronic machinery (Remote)

AC - Spares
74 Other machinery Nos. 84145920 8414 Yes
(Blower)

75 Others switchgear Nos. 90319000 9031 No

285
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

76 Others switchgear Nos. 90318000 9031 No

Electricals or
77 switchgear Nos. 85049090 8504 Yes
electronic machinery

Electricals or
78 Lighting Nos. 85395200 8539 Yes
electronic machinery

washing
79 Other machinery Nos. 84501200 8450 Yes
Machine

Electricals or
80 switchgear Nos. 85363000 8536 Yes
electronic machinery

286
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (21)

If yes, Central Excise Tariff Act, heading in which product/ service is covered under cost audit

CTA CTA Whether covered

Name of
S.No Vertical UOM heading (Wherever heading (Wherever under cost
product(s)/Service(s)
applicable) applicable) audit YES/NO

Electricals or
1 Cable & Wire KM 85446090 8544 Yes
electronic machinery

Electricals or
2 Cable & Wire KM 85444999 8544 Yes
electronic machinery

Electricals or
3 Cable & Wire KM 85444220 8544 Yes
electronic machinery

Electricals or
4 Cable & Wire KM 85444920 8544 Yes
electronic machinery

5 Other machinery FAN Nos. 84145120 8414 Yes

6 Other machinery FAN Nos. 84145190 8414 Yes

7 Other machinery FAN Nos. 84145130 8414 Yes

8 Other machinery FAN Nos. 84145110 8414 Yes

9 Other machinery FAN Nos. 84145910 8414 Yes

10 Other machinery Fan Regulator Nos. 84149030 8414 Yes

Electricals or
11 switchgear Nos. 85362030 8536 Yes
electronic machinery

Electricals or
12 switchgear Nos. 85365020 8536 Yes
electronic machinery

Electricals or
13 switchgear Nos. 85365090 8536 Yes
electronic machinery

Electricals or
14 switchgear Nos. 85366110 8536 Yes
electronic machinery

Electricals or
15 switchgear Nos. 85362020 8536 Yes
electronic machinery

287
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

16 Electricals or switchgear Nos. 85389000 8538 Yes

electronic machinery

Electricals or
17 switchgear Nos. 85362090 8536 Yes
electronic machinery

Electricals or
18 capacitor Nos. 85321000 8532 Yes
electronic machinery

Electricals or
19 switchgear Nos. 85369010 8536 Yes
electronic machinery

Electricals or
20 switchgear Nos. 85362010 8536 Yes
electronic machinery

Electricals or
21 switchgear Nos. 85361020 8536 Yes
electronic machinery

Electricals or
22 switchgear Nos. 85318000 8531 Yes
electronic machinery

Electricals or
23 switchgear Nos. 85369030 8536 Yes
electronic machinery

Electricals or
24 switchgear Nos. 85366990 8536 Yes
electronic machinery

Electricals or
25 switchgear Nos. 85311090 8531 Yes
electronic machinery

Electricals or
26 switchgear Nos. 85369090 8536 Yes
electronic machinery

Electricals or
27 switchgear Nos. 85354030 8535 Yes
electronic machinery

28 Others switchgear Nos. 85371000 8537 No

Electricals or
29 switchgear Nos. 85361010 8536 Yes
electronic machinery

Electricals or
30 switchgear Nos. 85366910 8536 Yes
electronic machinery

Electricals or
31 switchgear Nos. 85361030 8536 Yes
electronic machinery

Electricals or
32 switchgear Nos. 85364900 8536 Yes
electronic machinery

Electricals or
33 switchgear Nos. 85329000 8532 Yes
electronic machinery

Electricals or
34 switchgear Nos. 85364100 8536 Yes
electronic machinery

288
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

35 Plastic & polymer switchgear Nos. 39219099 3921 Yes

36 Others switchgear Nos. 91070000 9107 No

Electricals or
37 switchgear Nos. 85362040 8536 Yes
electronic machinery

Electricals or
38 Moto & Pump Nos. 85015210 8501 Yes
electronic machinery

39 Other machinery Moto & Pump Nos. 84137010 8413 Yes

Electricals or
40 Moto & Pump Nos. 85014090 8501 Yes
electronic machinery

Electricals or
41 Moto & Pump Nos. 85015310 8501 Yes
electronic machinery

Electricals or
42 Moto & Pump Nos. 85015110 8501 Yes
electronic machinery

43 Other machinery Moto & Pump Nos. 84139120 8413 Yes

Electricals or
44 Moto & Pump Nos. 85030029 8503 Yes
electronic machinery

45 Other machinery Water RO Nos. 84212120 8421 Yes

Water RO
46 Other machinery Nos. 84219900 8421 Yes
-Spares

Electricals or
47 switchgear Nos. 85044030 8504 Yes
electronic machinery

Electricals or
48 Lighting Nos. 85041090 8504 Yes
electronic machinery

Electricals or
49 Lighting Nos. 85393230 8539 Yes
electronic machinery

Electricals or
50 Lighting Nos. 85393220 8539 Yes
electronic machinery

51 Others Lighting Nos. 94054090 9405 No

52 Others Lighting Nos. 94051090 9405 No

53 Others Lighting Nos. 94059900 9405 No

Electricals or
54 Lighting Nos. 85395000 8539 Yes
electronic machinery

289
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

55 Other machinery cooler Nos. 84799090 8479 Yes

56 Other machinery cooler Nos. 84796000 8479 Yes

Electricals or
57 Lighting Nos. 85393110 8539 Yes
electronic machinery

58 Others Water Heater Nos. 85161000 8516 No

59 Others Appliances Nos. 85094010 8509 No

60 Others Appliances Nos. 85162900 8516 No

61 Others Appliances Nos. 85164000 8516 No

Appliances
62 Others Nos. 85099000 8509 No
-Spares

63 Others Water Heater Nos. 85169000 8516 No

64 Other machinery AC Nos. 84151010 8415 Yes

65 Other machinery AC - TOWER Nos. 84158290 8415 Yes

66 Others Appliances Nos. 85166000 8516 No

67 Others Appliances Nos. 85094090 8509 No

AC - 2 TON &
68 Other machinery Nos. 84158210 8415 Yes
ABOVE

AC
69 Other machinery Nos. 84159000 8415 Yes
-Spares(Others)

AC -SPARES
70 Other machinery (GAS Nos. 84148011 8414 Yes
COMPRESSOR)

AC -SPARES
71 Others Nos. 90329000 9032 No
(COIL SENSOR)

Electricals or AC
72 Nos. 85012000 8501 Yes
electronic machinery -Spares(Motor)

Electricals or AC - Spares
73 Nos. 85437099 8543 Yes
electronic machinery (Remote)

AC - Spares
74 Other machinery Nos. 84145920 8414 Yes
(Blower)

75 Others switchgear Nos. 90319000 9031 No

290
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

76 Others switchgear Nos. 90318000 9031 No

Electricals or
77 switchgear Nos. 85049090 8504 Yes
electronic machinery

Electricals or
78 Lighting Nos. 85395200 8539 Yes
electronic machinery

washing
79 Other machinery Nos. 84501200 8450 Yes
Machine

Electricals or
80 switchgear Nos. 85363000 8536 Yes
electronic machinery

291
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (22)

If yes, Central Excise Tariff Act, heading in which product/ service is covered under cost audit

CTA CTA Whether covered

Name of
S.No Vertical UOM heading (Wherever heading (Wherever under cost
product(s)/Service(s)
applicable) applicable) audit YES/NO

Electricals or
1 Cable & Wire KM 85446090 8544 Yes
electronic machinery

Electricals or
2 Cable & Wire KM 85444999 8544 Yes
electronic machinery

Electricals or
3 Cable & Wire KM 85444220 8544 Yes
electronic machinery

Electricals or
4 Cable & Wire KM 85444920 8544 Yes
electronic machinery

5 Other machinery FAN Nos. 84145120 8414 Yes

6 Other machinery FAN Nos. 84145190 8414 Yes

7 Other machinery FAN Nos. 84145130 8414 Yes

8 Other machinery FAN Nos. 84145110 8414 Yes

9 Other machinery FAN Nos. 84145910 8414 Yes

10 Other machinery Fan Regulator Nos. 84149030 8414 Yes

Electricals or
11 switchgear Nos. 85362030 8536 Yes
electronic machinery

Electricals or
12 switchgear Nos. 85365020 8536 Yes
electronic machinery

Electricals or
13 switchgear Nos. 85365090 8536 Yes
electronic machinery

Electricals or
14 switchgear Nos. 85366110 8536 Yes
electronic machinery

Electricals or
15 switchgear Nos. 85362020 8536 Yes
electronic machinery

292
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

16 Electricals or switchgear Nos. 85389000 8538 Yes

electronic machinery

Electricals or
17 switchgear Nos. 85362090 8536 Yes
electronic machinery

Electricals or
18 capacitor Nos. 85321000 8532 Yes
electronic machinery

Electricals or
19 switchgear Nos. 85369010 8536 Yes
electronic machinery

Electricals or
20 switchgear Nos. 85362010 8536 Yes
electronic machinery

Electricals or
21 switchgear Nos. 85361020 8536 Yes
electronic machinery

Electricals or
22 switchgear Nos. 85318000 8531 Yes
electronic machinery

Electricals or
23 switchgear Nos. 85369030 8536 Yes
electronic machinery

Electricals or
24 switchgear Nos. 85366990 8536 Yes
electronic machinery

Electricals or
25 switchgear Nos. 85311090 8531 Yes
electronic machinery

Electricals or
26 switchgear Nos. 85369090 8536 Yes
electronic machinery

Electricals or
27 switchgear Nos. 85354030 8535 Yes
electronic machinery

28 Others switchgear Nos. 85371000 8537 No

Electricals or
29 switchgear Nos. 85361010 8536 Yes
electronic machinery

Electricals or
30 switchgear Nos. 85366910 8536 Yes
electronic machinery

Electricals or
31 switchgear Nos. 85361030 8536 Yes
electronic machinery

Electricals or
32 switchgear Nos. 85364900 8536 Yes
electronic machinery

Electricals or
33 switchgear Nos. 85329000 8532 Yes
electronic machinery

Electricals or
34 switchgear Nos. 85364100 8536 Yes
electronic machinery

293
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

35 Plastic & polymer switchgear Nos. 39219099 3921 Yes

36 Others switchgear Nos. 91070000 9107 No

Electricals or
37 switchgear Nos. 85362040 8536 Yes
electronic machinery

Electricals or
38 Moto & Pump Nos. 85015210 8501 Yes
electronic machinery

39 Other machinery Moto & Pump Nos. 84137010 8413 Yes

Electricals or
40 Moto & Pump Nos. 85014090 8501 Yes
electronic machinery

Electricals or
41 Moto & Pump Nos. 85015310 8501 Yes
electronic machinery

Electricals or
42 Moto & Pump Nos. 85015110 8501 Yes
electronic machinery

43 Other machinery Moto & Pump Nos. 84139120 8413 Yes

Electricals or
44 Moto & Pump Nos. 85030029 8503 Yes
electronic machinery

45 Other machinery Water RO Nos. 84212120 8421 Yes

Water RO
46 Other machinery Nos. 84219900 8421 Yes
-Spares

Electricals or
47 switchgear Nos. 85044030 8504 Yes
electronic machinery

Electricals or
48 Lighting Nos. 85041090 8504 Yes
electronic machinery

Electricals or
49 Lighting Nos. 85393230 8539 Yes
electronic machinery

Electricals or
50 Lighting Nos. 85393220 8539 Yes
electronic machinery

51 Others Lighting Nos. 94054090 9405 No

52 Others Lighting Nos. 94051090 9405 No

53 Others Lighting Nos. 94059900 9405 No

Electricals or
54 Lighting Nos. 85395000 8539 Yes
electronic machinery

294
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

55 Other machinery cooler Nos. 84799090 8479 Yes

56 Other machinery cooler Nos. 84796000 8479 Yes

Electricals or
57 Lighting Nos. 85393110 8539 Yes
electronic machinery

58 Others Water Heater Nos. 85161000 8516 No

59 Others Appliances Nos. 85094010 8509 No

60 Others Appliances Nos. 85162900 8516 No

61 Others Appliances Nos. 85164000 8516 No

Appliances
62 Others Nos. 85099000 8509 No
-Spares

63 Others Water Heater Nos. 85169000 8516 No

64 Other machinery AC Nos. 84151010 8415 Yes

65 Other machinery AC - TOWER Nos. 84158290 8415 Yes

66 Others Appliances Nos. 85166000 8516 No

67 Others Appliances Nos. 85094090 8509 No

AC - 2 TON &
68 Other machinery Nos. 84158210 8415 Yes
ABOVE

AC
69 Other machinery Nos. 84159000 8415 Yes
-Spares(Others)

AC -SPARES
70 Other machinery (GAS Nos. 84148011 8414 Yes
COMPRESSOR)

AC -SPARES
71 Others Nos. 90329000 9032 No
(COIL SENSOR)

Electricals or AC
72 Nos. 85012000 8501 Yes
electronic machinery -Spares(Motor)

Electricals or AC - Spares
73 Nos. 85437099 8543 Yes
electronic machinery (Remote)

AC - Spares
74 Other machinery Nos. 84145920 8414 Yes
(Blower)

75 Others switchgear Nos. 90319000 9031 No

295
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

76 Others switchgear Nos. 90318000 9031 No

Electricals or
77 switchgear Nos. 85049090 8504 Yes
electronic machinery

Electricals or
78 Lighting Nos. 85395200 8539 Yes
electronic machinery

washing
79 Other machinery Nos. 84501200 8450 Yes
Machine

Electricals or
80 switchgear Nos. 85363000 8536 Yes
electronic machinery

[611800] Notes - Revenue

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022
to
31/03/2023
Textual information (23)
Disclosure of revenue [TextBlock] [See below]

296
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (23)

Disclosure of revenue [Text Block]

2.13.Revenue from contract with customers

The Group manufactures/ trades and sells a range of consumer electrical and electronic products. Revenue from contracts
with customers involving sale of these products is recognized at a point in time when control of the product has been
transferred, and there are no unfulfilled obligation that could affect the customer's acceptance of the products which usually
happen on delivery of goods. The Group also provides installation, annual maintenance and warranty services that are either
sold separately or bundled together with the sale of goods. The Group recognizes these service revenue from sales of
services over a period of time, because the customer simultaneously receives and consumes the benefits provided by the
Group. The Group has objective evidence that all criterion for acceptance has been satisfied. A receivable is recognised
when the control of the product is transferred as the consideration is unconditional and payment becomes due upon passage
of time as per the terms of contract with customers.

(a)Sale of goods

Revenue from sale of goods is recognised at the point in time when control of the goods is transferred to the customer,
generally on delivery of the goods and there are no unfulfilled obligations.

The Group considers, whether there are other promises in the contract in which their are separate performance obligations,
to which a portion of the transaction price needs to be allocated. In determining the transaction price for the sale of goods,
the Group allocates a portion of the transaction price to different performance obligations goods bases on its relative
consolidated prices and also considers the following:-

(i) Variable consideration

The Group recognizes revenue from the sale of goods measured at the consolidated selling price of the consideration
received or receivable, net of returns and allowances, trade discounts and volume rebates. If the consideration in a contract
includes a variable amount, the Group estimates the amount of consideration to which it will be entitled in exchange for
transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is
highly probable that a significant revenue reversal in the amount of cumulative revenue recognised will not occur when the
associated uncertainty with the variable consideration is subsequently resolved. The Group operates several sales incentive
programmes wherein the customers are eligible for several benefits on achievement of underlying conditions as prescribed in
the scheme programme such as credit notes, reimbursement, investments etc. Revenue from contract with customer is
presented after deducting cost of all these schemes.

(ii) Warranty obligations

The Group generally provides for warranties for general repair of defects. These warranties are assurance-type warranties
under Ind AS 115, which are accounted for under Ind AS 37 (Provisions, Contingent Liabilities and Contingent Assets).
However, in certain non-standard contracts in respect of sale of consumer durable goods, the Group provides extended
warranties and such warranties are termed as service-type warranties and therefore, accounted for as separate performance
obligations to which the Group allocates a portion of the transaction price. Revenue from service-type warranties is
recognised over the period in which the service is provided based on the time elapsed

(iii) Significant Financing Components

In respect of short-term advances from its customers, using the practical expedient in Ind AS 115, the Group does not adjust
the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception,
that the period between the transfer of the promised good or service to the customer and when the customer pays for that
good or service will be within normal operating cycle.

In respect of long term contracts, the transaction price for these contracts is discounted, using the interest rate implicit in the
contract (i.e., the interest rate that discounts the cash selling price of the equipment to the amount paid in advance).

No significant element of financing is deemed present as the sales are made with a credit term of 21 to 90 days, which is
consistent with market practice."

(b)Sale of services

297
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

The Group provides installation, annual maintenance and extended warranty services that are sold separately. The Group
recognizes revenue from sales of services over time, because the customer simultaneously receives and consumes the
benefits provided by the Group. Revenue from services related activities is recognised as and when services are rendered
and on the basis of contractual terms with the parties.

(c)Contract balances

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. Contract assets
are in the nature of unbilled receivables, which arises when Group satisfies a performance obligation but does not have an
unconditional rights to consideration. A receivables represents the Group's right to an amount of consideration that is
unconditional. Contract assets are subject to impairment assessment. Refer to accounting policies on impairment of financial
assets in section (Financial instruments – initial recognition and subsequent measurement).

A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration
(or an amount of consideration is due) from the customer. If a customer pays consideration before the Group transfers goods
or services to the customer, a contract liability is recognised when the payment is made or the payment is due (whichever is
earlier). Contract liabilities are recognised as revenue when the Group performs under the contract (i.e., transfers control of
the related goods or services to the customer).

A trade receivable is recognised if an amount of consideration that is unconditional (i.e., only the passage of time is required
before payment of the consideration is due). Refer to accounting policies of financial assets in section (Financial instruments
– initial recognition and subsequent measurement).

(d)Income from Service Concession Arrangement

Revenue related to Street Lights Upgrade services provided under service concession arrangement is recognized as per the
agreement with the grantor. The Group recognizes a financial asset arising from the service concession agreement when it
has an unconditional contractual right to receive cash or another financial asset from or at the direction of the grantor of the
concession for the upgrade services provided. Such financial assets are measured at fair value upon initial recognition.

[612400] Notes - Service concession arrangements

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of service concession arrangements [TextBlock]
Whether there are any service concession arrangments No No

[612000] Notes - Construction contracts

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of notes on construction contracts [TextBlock]
Whether there are any construction contracts No No

298
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[612600] Notes - Employee benefits

Disclosure of net defined benefit liability (assets) [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Present value of
defined benefit
Net defined benefit liability (assets) [Axis] Net defined benefit liability (assets) [Member]
obligation
[Member]
Defined benefit plans categories [Axis] 1 1
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of defined benefit plans [TextBlock]
Disclosure of net defined benefit liability (assets)
[TextBlock]
Disclosure of net defined benefit liability
(assets) [Abstract]
Disclosure of net defined benefit liability
(assets) [Line items]
Description of type of plan Refer to child member Refer to child member Gratuity
Changes in net defined benefit liability
(assets) [Abstract]
Current service cost, net defined
24.8 15.41 24.8
benefit liability (assets)
Interest expense (income), net defined
9.9 8.51 9.9
benefit liability (assets)
Gain (loss) on remeasurement, net
defined benefit liability (assets)
[Abstract]
Return on plan assets, net defined
8.8 9.1
benefit liability (assets)
Actuarial losses (gains) arising from
changes in financial assumptions, net -9.46 6.17 (A) -9.46
defined benefit liability (assets)
Total loss (gain) on
remeasurement, net defined -0.66 15.27 -9.46
benefit liability (assets)
Contributions to plan, net defined
benefit liability (assets) [Abstract]
Contributions to plan by employer,
net defined benefit liability 8.65 18.25
(assets)
Total contributions to plan, net
8.65 18.25
defined benefit liability (assets)
Payments from plan, net defined benefit
0 0 6.64
liability (assets)
Increase (decrease) through other
changes, net defined benefit 0
liability (assets)
Total increase (decrease) in net
26.71 -9.6 37.52
defined benefit liability (assets)
Net defined benefit liability (assets) at
35.36 8.65 18.25 177.81
end of period

(A)
Particulars 2022-23

Actuarial changes arising from changes in financial assumptions -3.62

Actuarial changes arising from changes in experience adjustments -5.84

299
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of net defined benefit liability (assets) [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Present value of defined benefit
Net defined benefit liability (assets) [Axis] Plan assets [Member]
obligation [Member]
Defined benefit plans categories [Axis] 1 1
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of defined benefit plans [TextBlock]
Disclosure of net defined benefit liability (assets)
[TextBlock]
Disclosure of net defined benefit liability
(assets) [Abstract]
Disclosure of net defined benefit liability
(assets) [Line items]
Description of type of plan Gratuity Gratuity Gratuity
Changes in net defined benefit liability
(assets) [Abstract]
Current service cost, net defined
15.41
benefit liability (assets)
Interest expense (income), net defined
8.51
benefit liability (assets)
Gain (loss) on remeasurement, net
defined benefit liability (assets)
[Abstract]
Return on plan assets, net defined
(A) -8.8 -9.1
benefit liability (assets)
Actuarial losses (gains) arising from
changes in financial assumptions, net (B) 6.17
defined benefit liability (assets)
Total loss (gain) on
remeasurement, net defined 6.17 -8.8 -9.1
benefit liability (assets)
Contributions to plan, net defined
benefit liability (assets) [Abstract]
Contributions to plan by employer,
net defined benefit liability -8.65 -18.25
(assets)
Total contributions to plan, net
-8.65 -18.25
defined benefit liability (assets)
Payments from plan, net defined benefit
6.68 6.64 6.68
liability (assets)
Increase (decrease) through other
changes, net defined benefit 0
liability (assets)
Total increase (decrease) in net
11.07 10.81 20.67
defined benefit liability (assets)
Net defined benefit liability (assets) at
140.29 129.22 142.45 131.64
end of period

(A)
Particulars 2022-23

Expected return on plan assets -9.59

Return on plan assets excluding interest income 0.79

(B)
Particulars 2021-22

Actuarial changes arising from changes in financial assumptions 5.06

Actuarial changes arising from changes in experience adjustments 1.11

300
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of net defined benefit liability (assets) [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Domestic defined
Defined benefit plans [Axis] benefit plans
[Member]
Plan assets
Net defined benefit liability (assets) [Axis]
[Member]
Defined benefit plans categories [Axis] 1
31/03/2021
Disclosure of defined benefit plans [TextBlock]
Disclosure of net defined benefit liability (assets) [TextBlock]
Disclosure of net defined benefit liability (assets) [Abstract]
Disclosure of net defined benefit liability (assets) [Line items]
Net defined benefit liability (assets) at end of period 110.97

Disclosure of defined benefit plans [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Domestic defined benefit plans
Defined benefit plans [Axis]
[Member]
Defined benefit plans categories [Axis] 1
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of defined benefit plans [TextBlock]
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [Line items]
Description of type of plan Gratuity Fund Scheme Gratuity
Surplus (deficit) in plan [Abstract]
Defined benefit obligation, at present value 177.81 140.29
Plan assets, at fair value 142.45 131.64
Net surplus (deficit) in plan -35.36 -8.65
Actuarial assumption of discount rates 7.37% 7.23%
Actuarial assumption of expected rates of salary increases 9.50% 9.00%

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (24)
Disclosure of employee benefits [TextBlock] [See below]
Disclosure of defined benefit plans [TextBlock]
Whether there are any defined benefit plans Yes Yes
Disclosure of net defined benefit liability (assets) [TextBlock]

301
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (24)

Disclosure of employee benefits [Text Block]

3 Gratuity and other post-employment benefit plans

Disclosures pursuant to Ind AS - 19 "Employee Benefits" (notified under the section 133 of the
Companies Act 2013 (the Act) read with Companies (Indian Accounting Standards) Rule 2015 (as
amended from time to time) and other relevant provision of the Act) are given below :

Contribution to Defined Contribution Plan, recognised as expense for the year is as under:

Year Year
ended ended

March March
31, 31,
2023 2022

Employer's Contribution towards Provident Fund (PF) and National Pension Scheme (NPS) 47.4 40.12

Employer's Contribution towards Employee State Insurance (ESI) 0.32 0.33

47.72 40.45

Defined Benefit Plan

The employees' Gratuity Fund Scheme, which is a defined benefit plan, is managed by the trust which maintains its
investments with Bajaj Allianz Life Insurance Co. Ltd . The gratuity plan is governed by the Payment of Gratuity Act, 1972.
Under the gratuity plan, every employee who has completed at least five years of service gets a gratuity on departure at 15
days of last drawn basic salary for each completed year of service. The present value of obligation is determined based on
actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to
additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

The following tables summaries the components of net benefit expense recognised in the statement of profit or loss, the
funded status and amounts recognised in the balance sheet for the respective plans:

Year
Year ended
ended

March 31,
March 31, 2022
2023

302
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

a) Reconciliation of opening and closing balances of Defined

Benefit obligation

Present value of Defined Benefit obligation at the beginning of

140.29 129.22
the year

Interest Expense 9.9 8.51

Current Service Cost 24.8 15.41

Benefit paid -6.64 -6.68

Remeasurement of (Gain)/loss recognised in other

comprehensive income

Actuarial changes arising from changes in financial assumptions 3.62 -5.06

Actuarial changes arising from changes in experience

5.84 -1.11
adjustments

Present value of Defined Benefit obligation at year end 177.81 140.29

Reconciliation of opening and closing balances of fair value of

b)
plan assets

Fair value of plan assets at beginning of the year 131.64 110.97

Expected return on plan assets 9.59 7.89

Employer contribution 8.65 18.25

Remeasurement of Gain/(loss) in other comprehensive income

Return on plan assets excluding interest income -0.79 1.21

Benefits paid -6.64 -6.68

Fair value of plan assets at year end 142.45 131.64

Net defined benefit asset/ (liability) recognised in the balance

c)
sheet

Fair value of plan assets 142.45 131.64

Present value of defined benefit obligation -177.81 -140.29

Amount recognised in Balance Sheet- Asset / (Liability) -35.36 -8.65

303
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Current portion refer note 18(i) -31.21 -8.65

Non-current portion -4.15

-

Net defined benefit expense (recognised in the Statement of

d)
profit and loss for the year )

Current service cost 24.8 15.41

Interest cost (net) 0.31 0.62

Net defined benefit expense debited to statement of profit and

25.11 16.03
loss

Remeasurement (gain)/ loss recognised in other comprehensive

e)
income

Actuarial changes arising from changes in financial assumptions 3.62 -5.06

Actuarial changes arising from changes in experience

5.84 -1.11
adjustments

Return on Plan assets excluding amounts included in net interest

0.79 -1.21
expense

Recognised in other comprehensive income 10.25 -7.38

f) Broad categories of plan assets as a percentage of total assets

Insurer managed funds 100% 100%

Principal assumptions used in determining defined benefit

g)
obligation

Year ended Year ended

March 31,
March 31, 2022
2023

304
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Off-roll
On-roll On-roll
Employees

Emplyees Emplyees

Mortality Table (LIC) 2012-14 2012-14 2012-14

(Ultimate) (Ultimate) (Ultimate)

Discount rate (per annum) 7.36% 7.37% 7.23%

Salary Escalation 10.00% 9.50% 9.00%

Attrition Rate 40.00% 7.00% 7.00%

Quantitative sensitivity analysis for significant assumptions is as

h)
below:

Increase / (decrease) on present value of defined benefits

obligations at the end of the year

Off-roll
Discount rate On-roll On-roll
Employees

Emplyees Emplyees

Increase by 0.50% -0.07 -5.89 -4.9

Decrease by 0.50% 0.07 6.71 5.59

Salary increase

Increase by 0.50% 0.07 6.58 5.49

Decrease by 0.50% -0.07 -5.89 -4.91

Attrition rate

Increase by 0.50% -0.02 -0.75 -0.57

Decrease by 0.50% 0.02 0.58 0.65

305
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

i) Maturity profile of defined benefit obligation

Within the next 12 months (next annual reporting period) 2.21 12.75 10.22

Between 2 and 5 years 4.14 75.71 65.53

More than 5 years 1.17 248.85 198.35

Total expected payments 7.52 337.31 274.1

j)The average duration of the defined benefit plan obligation at the end of the reporting period is 21.87 years for on-roll
employees (March 31, 2022: 21.66 years) and 27.22 years for off-roll employees.

k)The Group expects to contribute Rs. 29.08 crores (March 31,2022 : Rs. 8.65 crores) to the plan during the next financial
year.

l)The estimates of rate of escalation in salary considered in actuarial valuation are after taking into account inflation,
seniority, promotion and other relevant factors including supply and demand in the employment market. The above
information is as certified by the Actuary.

m)Discount rate is based on the prevailing market yields of Indian Government securities as at the balance sheet date for the
estimated term of the obligations.

n)The sensitivity analysis above have been determined based on a method that extrapolates the impact on defined benefit
obligation as a result of reasonable changes in an assumptions occurring at the end of the reporting period while holding all
other assumption constraint. In practice it is unlikely to occur and change in some of the assumption may be correlated.
When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method
(present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting
period) has been applied as when calculating the defined benefit liability recognised in the balance sheet.

o)The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior
period

[612800] Notes - Borrowing costs

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of borrowing costs [TextBlock]
Whether any borrowing costs has been capitalised during the year No No

306
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[612200] Notes - Leases

Disclosure of finance lease and operating lease by lessee [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Later than one year and not later than
Maturity [Axis] Not later than one year [Member]
five years [Member]
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of finance lease and operating lease by
lessee [TextBlock]
Disclosure of finance lease and operating lease by
lessee [Abstract]
Disclosure of finance lease and operating lease
by lessee [Line items]
Minimum finance lease payments payable 54.49 60.07 166.07 148.29

Disclosure of finance lease and operating lease by lessee [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Maturity [Axis] Later than five years [Member]
31/03/2023 31/03/2022
Disclosure of finance lease and operating lease by lessee [TextBlock]
Disclosure of finance lease and operating lease by lessee [Abstract]
Disclosure of finance lease and operating lease by lessee [Line items]
Minimum finance lease payments payable 121.92 140.62

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (25)
Disclosure of leases [TextBlock] [See below]
Whether company has entered into any lease agreement Yes Yes
Disclosure of recognised finance lease as assets by lessee [TextBlock]
Disclosure of finance lease and operating lease by lessee [TextBlock]
Whether any operating lease has been converted to financial lease or
No No
vice-versa

307
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (25)

Disclosure of leases [Text Block]

Leases

The Group’s lease asset primarily consist of

leases for land and buildings for branch offices
and warehouses having the various lease terms .
The Group also has certain leases of with lease
terms of 12 months or less. The Group applies the
‘short-term lease’ recognition exemptions for
(i)
these leases. Payment made towards short term
leases of low value assets (lease of assets worth
less than Rs 2 Lacs) other than building and
warehouse are recognized in the statement of
Profit and Loss as rental expenses over the tenure
of such leases.

Following is carrying value of right of use assets

(ii)
and the movements thereof :

(Rs in crores)

Particulars Right of Use Asset Total

Leasehold
Leasehold Land
Building

Balance as at April 1, 2021 224.57 122.89 347.46

Additions during the year 1.87 132.69 134.56

Recognition of grant related to assets

- -

Deletion during the year -6.59 -6.59

-

Depreciation of Right of use assets (refer note 28) -2.53 -39.24 -41.77

Balance as at March 31, 2022 223.91 209.75 433.66

Additions during the year 1.34 51.86 53.2

Recognition of grant related to assets

- -

Deletion during the year -4.22 -4.22

-

Depreciation on Right of use assets (refer note

-2.54 -48.07 -50.61
28)

308
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Balance as at March 31, 2023 222.71 209.32 432.03

(iii) The following is the carrying value of lease liability and movement thereof :

(Rs in
crores)

Particulars Amount

Balance as at April 1, 2021 130.66

Additions during the year 131.92

Finance cost accrued during the year 14.89

Deletion during the year -6.68

Lease rent concession -0.49

Payment of lease liabilities including interest -49.43

Balance as at March 31, 2022 220.87

Additions during the year 50.73

Finance cost accrued during the year 18.35

Deletion during the year -4.1

Lease rent concession -0.12

Payment of lease liabilities including interest -62.63

Balance as at March 31, 2023 223.10

Current maturities of Lease liability refer note 17(B) 36.19

Non-Current Lease Liability refer note 14(B) 186.91

223.1

(iv) The maturity analysis of lease liabilities are disclosed in Note 31(9).

The weighted average incremental borrowing rate applied to lease liabilities as at April

309
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(v) 1, 2019 is 8.5%

(Rs in
(vi) Amounts recognised in the statement of profit and loss during the year
crores)

Particulars Year ended Year ended

March 31, March 31,

2023 2022

Depreciation charge of right-of-use assets - leasehold building 48.07 39.24

Depreciation charge of right-of-use assets - leasehold land 2.54 2.53

Finance cost accrued during the year (included in finance cost) (refer note 27) 18.35 14.89

Expense related to short term leases (included in other expense) (refer note 29) 32.44 24.6

The Group does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient
(vii)
to meet the obligations related to lease liabilities as and when they fall due.

The Group has received the Covid-19-related rent concessions for lessees amounting to Rs 0.12 crores ( March 31,
2022: Rs 0.49 crores) and on the basis of practical expedient as per Ind AS 116 "Leases", the same is not considered
(viii)
to be lease modification , hence the income towards rent concession is recognised in "Other Income" in the statement
of profit and loss account.

The Group has applied a single discount rate to a portfolio of leases of a similar assets in similar economic
(ix)
environment with similar end date.

(x) Non-cash investing activities during the year:

Particulars Year ended Year ended

March 31, 2023 March 31, 2022

Acquisition of right of use assets 53.2 134.56

Recognition of grant related to assets - -

Disposals of right of use assets -4.22 -6.59

310
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[612300] Notes - Transactions involving legal form of lease

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of arrangements involving legal form of lease [TextBlock]
Whether there are any arrangements involving legal form of lease No No

[612900] Notes - Insurance contracts

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of insurance contracts [TextBlock]
Whether there are any insurance contracts as per Ind AS 104 No No

[613100] Notes - Effects of changes in foreign exchange rates

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of effect of changes in foreign exchange rates [TextBlock]
Whether there is any change in functional currency during the year No No
Description of presentation currency INR

[500100] Notes - Subclassification and notes on income and expenses

Miscellaneous other operating revenues [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Miscellaneous other operating revenues [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues 10.13 10.66 94.88 92.37
Miscellaneous other operating revenues [Abstract]
Miscellaneous other operating revenues
[LineItems]
Description of miscellaneous other operating
Export Incentive Export Incentive Scrap sales Scrap sales
revenues
Miscellaneous other operating revenues 10.13 10.66 94.88 92.37

311
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (26)
Subclassification and notes on income and expense explanatory [TextBlock] [See below]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 16,737.09 13,756.45
Revenue from sale of services 68.63 79
Other operating revenues 105.01 103.03
Other operating revenues 105.01 103.03
Total revenue from operations other than finance company 16,910.73 13,938.48
Total revenue from operations 16,910.73 13,938.48
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues (A) 105.01 (B) 103.03
Total other operating revenues 105.01 103.03
Total other operating revenues 105.01 103.03
Miscellaneous other operating revenues [Abstract]
Miscellaneous other operating revenues [LineItems]
Description of miscellaneous other operating revenues
Miscellaneous other operating revenues (A) 105.01 (B) 103.03
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on fixed deposits, current investments 104.17 81.43

Interest on other current investments (C) 19.07 (D) 23.02

Total interest income on current investments 123.24 104.45
Total interest income 123.24 104.45
Dividend income [Abstract]
Total dividend income 0 0
Other non-operating income [Abstract]
Net gain (loss) on foreign currency fluctuations treated as other
income [Abstract]
Other net gain (loss) on foreign currency fluctuations treated
22.13 32.78
as other income
Total net gain/loss on foreign currency fluctuations treated as
22.13 32.78
other income
Liabilities written off 0.23 0.15

Miscellaneous other non-operating income (E) 32.11 (F) 23.06

Total other non-operating income 54.47 55.99
Total other income 177.71 160.44
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense other borrowings 5.14 25.1

Other interest charges (G) 22.52 (H) 21.9

Total interest expense 27.66 47

Other borrowing costs (I) 5.96 (J) 6.41

Total finance costs 33.62 53.41
Employee benefit expense [Abstract]
Salaries and wages 1,154.95 928.05
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Total remuneration to directors 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others (K) 47.72 (L) 40.45
Total contribution to provident and other funds 47.72 40.45
Gratuity 25.11 16.03
Staff welfare expense 15.21 9.4

Other employee related expenses (M) 25.33 (N) 26.76

Total employee benefit expense 1,268.32 1,020.69
Depreciation, depletion and amortisation expense [Abstract]

312
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Depreciation expense (O) 270.04 (P) 233.87

Amortisation expense 26.13 27.02
Total depreciation, depletion and amortisation expense 296.17 260.89
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 53.25 54.68
Power and fuel 119.27 99.57
Rent 32.44 24.6
Repairs to building 4.63 3.6

Repairs to machinery (Q) 109.66 (R) 67.92

Insurance 28.32 25.23
Rates and taxes excluding taxes on income [Abstract]
Other cess taxes (S) 2.8 (T) 3.25
Total rates and taxes excluding taxes on income 2.8 3.25
Telephone postage 5.99 6.66
Travelling conveyance 124.21 66.91
Legal professional charges 23.39 33.47
Directors sitting fees 0.9 0.45
Bank charges 21.44 13.51
Advertising promotional expenses 437.4 246.82

Commission paid other selling agents (U) 120.66 (V) 98.3

Loss on disposal of intangible Assets 0 0
Loss on disposal, discard, demolishment and destruction of
0 0
depreciable property plant and equipment
Payments to auditor [Abstract]
Payment for audit services 1.35 1.35
Payment for taxation matters 0.04 0.04

Payment for other services (W) 0.03 (X) 0.01

Payment for reimbursement of expenses (Y) 0.16 (Z) 0.05
Total payments to auditor 1.58 1.45
CSR expenditure 26.68 23.66

Miscellaneous expenses (AA) 1,225.18 (AB) 965.3

Total other expenses (AC) 2,337.8 (AD) 1,735.38
Current tax [Abstract]
Current tax pertaining to current year 364.44 398.58
Total current tax 364.44 398.58

313
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Footnotes
(A)
Particulars 2022-23

Scrap sales 94.88

Export Incentive 10.13

(B)
Particulars 2021-22

Scrap sales 92.37

Export Incentive 10.66

(C)
Particulars 2022-23

Investment 12.99

Others - Finance Income and Interest 6.08

(D)
Particulars 2021-22

Investment 15.26

Others - Finance Income and Interest 7.76

(E)
Particulars 2022-23

Lease rent concession {refer note 31(2)} 0.12

Profit on sale of Investments 0

Discount on License utilised 9.43

Subsidy Income 2.36

Miscellaneous income 20.2

(F)
Particulars 2021-22

Lease rent concession {refer note 31(2)} 0.49

Profit on sale of Investments 0.97

Discount on License utilised 8.65

Subsidy Income 4.83

Miscellaneous income 8.12

(G)
Particulars 2022-23

Interest on income tax 4.17

Interest on lease liability {refer note no. 31(2)} 18.35

(H)
Particulars 2021-22

Interest on income tax 7.01

Interest on lease liability {refer note no. 31(2)} 14.89

(I)

314
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Particulars 2022-23

Miscellaneous financial expenses 0.18

Unwinding of discount on long term provisions {refer note no. 18(a)(ii)} 5.78

(J)
Particulars 2021-22

Miscellaneous financial expenses 0.17

Unwinding of discount on long term provisions {refer note no. 18(a)(ii)} 6.24

(K)
Particulars 2022-23

Contribution towards Provident Fund, Family Pension and ESI 47.72

(L)
Particulars 2021-22

Contribution towards Provident Fund, Family Pension and ESI 40.45

(M)
Particulars 2022-23

Employee stock purchase plan expense {refer note no. 31(6)} 25.33

(N)
Particulars 2021-22

Employee stock purchase plan expense {refer note no. 31(6)} 26.76

(O)
Particulars 2022-23

Depreciation of property, plant and equipment {refer note 3} 219.43

Depreciation of Right of use assets (refer note 3) 50.61

(P)
Particulars 2021-22

Depreciation of property, plant and equipment {refer note 3} 192.1

Depreciation of Right of use assets (refer note 3) 41.77

(Q)
Particulars 2022-23

Plant and machinery 41.04

Others 68.62

(R)
Particulars 2021-22

Plant and machinery 15.35

Others 52.57

(S)
Particulars 2022-23

Rates and taxes 2.8

(T)
Particulars 2021-22

315
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Rates and taxes 3.25

(U)
Particulars 2022-23

Commission on sales 120.66

(V)
Particulars 2021-22

Commission on sales 98.3

(W)
Particulars 2022-23

Certification fee 0.03

(X)
Particulars 2021-22

Certification fee 0.01

(Y)
Particulars 2022-23

Reimbursement of expenses 0.16

(Z)
Particulars 2021-22

Reimbursement of expenses 0.05

(AA)
Particulars 2022-23

Miscellaneous expenses 33.63

Credit impaired trade receivables written off 2.52

Loss on sale/ discard of property, plant and equipment (net) 0.14

Product warranties and after sales services (net of reversals) 292.44

Freight and forwarding expense 547.16

Exchange fluctuations (net) 0

Trade mark fee and royalty 0.42

Job work and service charges 332.96

Impairment allowance for trade receivables considered doubtful 15.91

(AB)
Particulars 2021-22

Miscellaneous expenses 29.06

Credit impaired trade receivables written off 10.39

Loss on sale/ discard of property, plant and equipment (net) 1.43

Product warranties and after sales services (net of reversals) 211.27

Freight and forwarding expense 431.27

Exchange fluctuations (net) 0

Trade mark fee and royalty 0.39

316
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Job work and service charges 279.1

Impairment allowance for trade receivables considered doubtful 2.39

(AC)
Particulars 2022-23

Other expenses 2321.89

Net impairment losses on financial and contract assets 15.91

(AD)
Particulars 2021-22

Other expenses 1732.99

Net impairment losses on financial and contract assets 2.39

317
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (26)

Subclassification and notes on income and expense explanatory [Text Block]

Year ended Year ended

March 31, March 31,

2023 2022

Rs.in crores Rs.in crores

21 REVENUE FROM OPERATIONS:

Revenue from contract with customers:

Sale of products 16,737.09 13,756.45

Sales of services 68.63 79

(A) 16,805.72 13,835.45

Other operating revenues

Export Incentive 10.13 10.66

Scrap sales 94.88 92.37

(B) 105.01 103.03

(A) +
Total revenue from operations 16,910.73 13,938.48
(B)

(i) Timing of revenue recognition

Goods transferred at a point in time 16,831.97 13,848.82

Services transferred over the time 68.63 79

318
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Total revenue from contract with customers 16,900.60 13,927.82

Add : Export Incentive 10.13 10.66

Total revenue from operations 16,910.73 13,938.48

(ii) Disaggregation of revenue based on product or service

Switchgears 2,115.45 1,790.92

Cables 5,529.16 4,642.77

Lighting and fixtures 1,614.43 1,391.43

Electrical consumer durables 3,296.62 3,071.20

Lloyd Consumer* 3,394.80 2,272.78

Others 950.14 758.72

Total revenue from contract with customers 16,900.60 13,927.82

* Includes revenue from installation services and service-type warranties.

(iii) Revenue by location of customers

India 16,415.02 13,423.38

Outside India 485.58 504.44

Total revenue from contract with customers 16,900.60 13,927.82

Add : Export Incentive 10.13 10.66

Total revenue from operations 16,910.73 13,938.48

Reconciliation of revenue recognised in statement of profit and loss with

(iv)
contracted price

Revenue as per contracted price 17,009.55 14,014.85

Less: Cash discount -108.95 -87.03

319
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Total revenue from contract with customers 16,900.60 13,927.82

Add : Export Incentive 10.13 10.66

Total revenue from operations 16,910.73 13,938.48

(v)Performance obligation

Sale of products: Performance obligation in respect of sale of goods is satisfied when control of the goods is transferred to
the customer, generally on delivery of the goods and payment is generally due as per the terms of contract with customers.

Sales of services: The performance obligation in respect of maintenance services is satisfied over a period of time and
acceptance of the customer. In respect of these services, payment is generally due upon completion of maintenance period
based on time elapsed and acceptance of the customer. In certain non-standard contracts, where the Group provides
warranties in service of consumer durable goods, the same is accounted for as a separate performance obligation and a
portion of the transaction price is allocated based on its relative consolidated prices. The performance obligation for the
warranty service is satisfied over a period of time based on time elapsed .

The transaction price allocated to remaining performance obligation (unsatisfied performance obligation) pertaining to sales
of services as at March 31, 2023 and expected time to recognise the same as revenue is as follows:-

Year ended Year ended

March 31, 2023 March 31, 2022

Rs.in crores Rs.in crores

Within one year 84.42 57.03

More than one year 4.1 4.99

88.52 62.02

Note: The remaining performance obligation expected to be recognised in more than one year relates to amounts received
from customer against which performance obligation is to be satisfied over the period of one to seven years. All other
remaining performance obligation are expected to be recognised within one year. During the year ended March 31, 2023,
revenue recognised from amount included in contract liability at the beginning of year is Rs 57.03 crores (March 31, 2022: Rs
34.94 crores).

(vi)Disclosure pursuant to Appendix C of Ind AS 115

The Group was awarded a contract for replacement of existing conventional street/ park lights with LED street/ park lights by
a Municipal Corporation in April 2017. As per the agreement, the Group shall also be responsible for the operation and
maintenance of LED street/ park lights for a period of 7 years after installation. The consideration received by the Group
under the contract is based on the energy savings resulting from the LED street/ park lights. The revenue recognised during
the year and the contract assets balance as at year-end from such contract amounts to Rs 45.89 Crores (March 31, 2022: Rs
45.43 crores) and Rs. 43.57Crores (March 31, 2022: Rs 56.83 crores) respectively.

320
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

22 OTHER INCOME

Interest received on financial assets carried at amortised

cost:

Deposits with banks 104.17 81.43

Investment 12.99 15.26

Others - Finance Income and Interest 6.08 7.76

Other non-operating income

Exchange fluctuations (net) 22.13 32.78

Liabilities no longer required written back 0.23 0.15

Lease rent concession refer note 31(2) 0.12 0.49

Profit on sale of Investments 0.97

-

Discount on License utilised 9.43 8.65

Subsidy Income 2.36 4.83

Miscellaneous income 20.2 8.12

177.71 160.44

COST OF RAW MATERIALS AND COMPONENTS

23
CONSUMED

Copper 3,361.20 2,604.08

Aluminium 1,009.60 922.07

General plastic and Engineering Plastic 438.02 365.51

Paints and chemicals 509.45 486.41

Steel 275.73 217.59

Packing materials 374.42 307.53

321
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Other material 3,349.50 2,866.88

9,317.92 7,770.07

Year ended Year ended

March 31, 2023 March 31, 2022

Rs.in crores Rs.in crores

24 PURCHASE OF TRADED GOODS

Switchgears 175.52 164.76

Lighting and fixtures 532.96 324.24

Electrical consumer durables 507.83 446.2

Lloyd Consumer 1,450.59 693.48

Cables 1.02 0.77

Others 360.83 241.95

3,028.75 1,871.40

CHANGE IN INVENTORIES OF FINISHED GOODS,

25 As at As at
TRADED GOODS AND WORK-IN-PROGRESS

March (Increase)/
March 31,2022
31, 2023 Decrease

Rs.in
Rs.in crores Rs.in crores
crores

Inventories at the end of the year

Finished goods 1,764.20 1,359.07 -405.13

Traded goods 851.64 581.31 -270.33

322
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Work in progress 165.56 202.06 36.5

Scrap materials 16.11 13.87 -2.24

2,797.51 2,156.31 -641.2

As at As at

March (Increase)/
March 31,2021
31,2022 Decrease

Rs.in
Rs.in crores Rs.in crores
crores

Inventories at the beginning of the year

Finished goods 1,359.07 1,211.73 -147.34

Traded goods 581.31 542.66 -38.65

Work in progress 202.06 167.53 -34.53

Scrap materials 13.87 14.91 1.04

2,156.31 1,936.83 -219.48

Year ended Year ended

March 31, 2023 March 31, 2022

Rs.in crores Rs.in crores

26 EMPLOYEE BENEFITS EXPENSES

Salaries, wages, bonus, commission and other benefits 1,154.95 928.05

Contribution towards Provident Fund, Family Pension and

47.72 40.45
ESI

Employee stock purchase plan expense refer note no.

25.33 26.76
31(6)

Gratuity expense refer note no. 31(3) 25.11 16.03

Staff welfare expenses 15.21 9.4

323
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

1,268.32 1,020.69

27 FINANCE COSTS

Interest expense on borrowings 5.14 25.1

Interest on income tax 4.17 7.01

Interest on lease liability refer note no. 31(2) 18.35 14.89

Miscellaneous financial expenses 0.18 0.17

Total interest expense 27.84 47.17

Unwinding of discount on long term provisions refer note

5.78 6.24
no. 18(a)(ii)

Total Finance cost 33.62 53.41

28 DEPRECIATION AND AMORTISATION EXPENSES

Depreciation of property, plant and equipment refer note 3 219.43 192.1

Amortization of intangible assets refer note 4 26.13 27.02

Depreciation of Right of use assets (refer note 3) 50.61 41.77

296.17 260.89

Year ended Year ended

March 31, 2023 March 31, 2022

Rs.in crores Rs.in crores

29 OTHER EXPENSES

Consumption of stores and spares 53.25 54.68

Power and fuel 119.27 99.57

324
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Job work and service charges 332.96 279.1

Rent 32.44 24.6

Repairs and maintenance:

Plant and machinery 41.04 15.35

Buildings 4.63 3.6

Others 68.62 52.57

Rates and taxes 2.8 3.25

Insurance 28.32 25.23

Trade mark fee and royalty 0.42 0.39

Travelling and conveyance 124.21 66.91

Communication expenses 5.99 6.66

Legal and professional charges 23.39 33.47

Payment to Auditors

Audit fee 1.35 1.35

Certification fee 0.03 0.01

Reimbursement of expenses 0.16 0.05

Payment to Tax Auditors

Tax audit fee 0.04 0.04

Contribution towards Corporate Social Responsibility

26.68 23.66
(CSR) refer note no. 31(7)

Directors sitting fees 0.9 0.45

Exchange fluctuations (net)

- -

Freight and forwarding expense 547.16 431.27

Advertisement and sales promotion 437.4 246.82

Commission on sales 120.66 98.3

325
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Product warranties and after sales services (net of 292.44 211.27

reversals)

Bank Charges 21.44 13.51

Loss on sale/ discard of property, plant and equipment

0.14 1.43
(net)

Credit impaired trade receivables written off 2.52 10.39

Miscellaneous expenses 33.63 29.06

2,321.89 1,732.99

NET IMPAIRMENT LOSSES ON FINANCIAL AND

29A
CONTRACT ASSETS

Impairment allowance for trade receivables considered

15.91 2.39
doubtful

15.91 2.39

[613200] Notes - Cash flow statement

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of cash flow statement [TextBlock]
Cash and cash equivalents cash flow statement 465.15 775.84 354.62
Other differences to cash and cash equivalents in statement of cash
-0.01 0
flows
Cash and cash equivalents 465.16 775.84
Income taxes paid (refund), classified as operating activities 391.94 414.85
Total income taxes paid (refund) 391.94 414.85

326
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[500200] Notes - Additional information statement of profit and loss

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Additional information on profit and loss account explanatory [TextBlock]
Aggregated income tax relating to components of other
comprehensive income that will not be reclassified to -2.58 1.86
profit or loss
Total aggregated income tax relating to components of other
-2.58 1.86
comprehensive income
Changes in inventories of finished goods (A) -405.13 (B) -147.34
Changes in inventories of work-in-progress (C) 36.5 (D) -34.53
Changes in inventories of stock-in-trade (E) -270.33 (F) -38.65
Changes in other inventories (G) -2.24 (H) 1.04
Total changes in inventories of finished goods, work-in-progress and
-641.2 -219.48
stock-in-trade
Exceptional items before tax (I) 0 (J) 0
Domestic sale manufactured goods 16,737.09 13,756.45
Total domestic turnover goods, gross 16,737.09 13,756.45
Total revenue from sale of products 16,737.09 13,756.45
Domestic revenue services 68.63 79
Total revenue from sale of services 68.63 79
Gross value of transaction with related parties 154.22 121.5
Bad debts of related parties 0 0

327
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Footnotes
(A)
Particulars 2022-23

Finished goods -1764.2

Finished goods 1359.07

(B)
Particulars 2021-22

Finished goods -1359.07

Finished goods 1211.73

(C)
Particulars 2022-23

Work in progress -165.56

Work in progress 202.06

(D)
Particulars 2021-22

Work in progress -202.06

Work in progress 167.53

(E)
Particulars 2022-23

Traded goods -851.64

Traded goods 581.31

(F)
Particulars 2021-22

Traded goods -581.31

Traded goods 542.66

(G)
Particulars 2022-23

Scrap materials -16.11

Scrap materials 13.87

(H)
Particulars 2021-22

Scrap materials -13.87

Scrap materials 14.91

(I)
Particulars 2022-23

Loss due to fire 112.52

Insurance claim receivable -112.52

(J)
Particulars 2021-22

Loss due to fire 0

328
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Insurance claim receivable 0

[611200] Notes - Fair value measurement

Disclosure of significant unobservable inputs used in fair value measurement of liabilities [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] At fair value [Member]
Classes of liabilities [Axis] 1 2
Valuation techniques used in fair value measurement [Axis] Valuation techniques [Member] Valuation techniques [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member
Disclosure of significant unobservable inputs used
in fair value measurement of liabilities
[TextBlock]
Disclosure of significant unobservable inputs
used in fair value measurement of liabilities
[Abstract]
Disclosure of significant unobservable
inputs used in fair value measurement of
liabilities [Line items]
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member

Disclosure of significant unobservable inputs used in fair value measurement of liabilities [Table] ..(2)
Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] At fair value [Member]
Classes of liabilities [Axis] 3 4
Valuation techniques used in fair value measurement [Axis] Valuation techniques [Member] Valuation techniques [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member
Disclosure of significant unobservable inputs used
in fair value measurement of liabilities
[TextBlock]
Disclosure of significant unobservable inputs
used in fair value measurement of liabilities
[Abstract]
Disclosure of significant unobservable
inputs used in fair value measurement of
liabilities [Line items]
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member

329
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of significant unobservable inputs used in fair value measurement of liabilities [Table] ..(3)
Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 1 2
Valuation techniques used in fair value measurement [Axis] Valuation techniques [Member] Valuation techniques [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member
Disclosure of significant unobservable inputs used
in fair value measurement of liabilities
[TextBlock]
Disclosure of significant unobservable inputs
used in fair value measurement of liabilities
[Abstract]
Disclosure of significant unobservable
inputs used in fair value measurement of
liabilities [Line items]
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member

Disclosure of significant unobservable inputs used in fair value measurement of liabilities [Table] ..(4)
Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 3 4
Valuation techniques used in fair value measurement [Axis] Valuation techniques [Member] Valuation techniques [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member
Disclosure of significant unobservable inputs used
in fair value measurement of liabilities
[TextBlock]
Disclosure of significant unobservable inputs
used in fair value measurement of liabilities
[Abstract]
Disclosure of significant unobservable
inputs used in fair value measurement of
liabilities [Line items]
Refer to child Refer to child Refer to child Refer to child
Nature of liabilities member member member member

330
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Not measured at fair value in balance Sheet but for which fair value is disclosed
Measurement [Axis]
[Member]
Classes of assets [Axis] Classes of assets [Member] Other assets [Member]
All levels of fair value hierarchy All levels of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of assets
[TextBlock]
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 265.75 71.83 265.75 71.83
Refer to child Refer to child Refer to child Refer to child
Nature of other assets member member member member
Description of valuation techniques used in Refer to child Refer to child Refer to child Refer to child
fair value measurement, assets member member member member
Reconciliation of changes in fair value
measurement, assets [Abstract]
Changes in fair value measurement, assets
[Abstract]
Gains (losses) recognised in profit
or loss, fair value measurement, 193.92 71.83 193.92 71.83
assets
Total increase (decrease) in fair value
193.92 71.83 193.92 71.83
measurement, assets
Assets at end of period 265.75 71.83 265.75 71.83
Description of line items in profit or loss
Refer to child Refer to child Refer to child Refer to child
where gains (losses) are recognised, fair member member member member
value measurement, assets
Description of line items in other
Refer to child Refer to child Refer to child Refer to child
comprehensive income where gains (losses) are member member member member
recognised, fair value measurement, assets
Refer to child Refer to child Refer to child Refer to child
Nature of other assets member member member member

331
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Not measured at fair value in balance Sheet but for which fair value is disclosed
Measurement [Axis]
[Member]
Classes of assets [Axis] Other assets 1 [Member]
All levels of fair value hierarchy Level 3 of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of assets
[TextBlock]
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 148.86 41.94 148.86 41.94
Refer to child Refer to child Other Financial Other Financial
Nature of other assets member member assets (Non-current) assets (Non-current)
Description of valuation techniques used in Refer to child Refer to child Textual information Textual information
fair value measurement, assets member member (27) [See below] (28) [See below]
Reconciliation of changes in fair value
measurement, assets [Abstract]
Changes in fair value measurement, assets
[Abstract]
Gains (losses) recognised in profit
or loss, fair value measurement, 106.92 41.94 106.92 41.94
assets
Total increase (decrease) in fair value
106.92 41.94 106.92 41.94
measurement, assets
Assets at end of period 148.86 41.94 148.86 41.94
Description of line items in profit or loss
Refer to child Refer to child Textual information Textual information
where gains (losses) are recognised, fair member member (29) [See below] (30) [See below]
value measurement, assets
Description of line items in other
Refer to child Refer to child Textual information Textual information
comprehensive income where gains (losses) are member member (31) [See below] (32) [See below]
recognised, fair value measurement, assets
Refer to child Refer to child Other Financial Other Financial
Nature of other assets member member assets (Non-current) assets (Non-current)

332
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Not measured at fair value in balance Sheet but for which fair value is disclosed
Measurement [Axis]
[Member]
Classes of assets [Axis] Other assets 2 [Member]
All levels of fair value hierarchy Level 3 of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of assets
[TextBlock]
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 116.89 29.89 116.89 29.89
Refer to child Refer to child Other Financial Other Financial
Nature of other assets member member assets (Current) assets (Current)
Description of valuation techniques used in Refer to child Refer to child Textual information Textual information
fair value measurement, assets member member (33) [See below] (34) [See below]
Reconciliation of changes in fair value
measurement, assets [Abstract]
Changes in fair value measurement, assets
[Abstract]
Gains (losses) recognised in profit
or loss, fair value measurement, 87 29.89 87 29.89
assets
Total increase (decrease) in fair value
87 29.89 87 29.89
measurement, assets
Assets at end of period 116.89 29.89 116.89 29.89
Description of line items in profit or loss
Refer to child Refer to child Textual information Textual information
where gains (losses) are recognised, fair member member (35) [See below] (36) [See below]
value measurement, assets
Description of line items in other
Refer to child Refer to child Textual information Textual information
comprehensive income where gains (losses) are member member (37) [See below] (38) [See below]
recognised, fair value measurement, assets
Refer to child Refer to child Other Financial Other Financial
Nature of other assets member member assets (Current) assets (Current)

333
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] At fair value [Member]
Classes of liabilities [Axis] 1 2
All levels of fair
Levels of fair value hierarchy [Axis] All levels of fair value hierarchy [Member] value hierarchy
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of liabilities
[TextBlock]
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Refer to child
Nature of liabilities Refer to child member Refer to child member
member
Liabilities 0 395.53 0 223.1
Description of valuation techniques used in Refer to child
Refer to child member Refer to child member
fair value measurement, liabilities member
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, 395.53 -395.53 -2.23
liabilities
Total increase (decrease) in fair value
-395.53 395.53 2.23
measurement, liabilities
Liabilities at end of period 0 395.53 0 223.1
Description of line items in profit or loss
Refer to child
where gains (losses) are recognised, fair Refer to child member Refer to child member
member
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are Refer to child
Refer to child member Refer to child member
recognised, fair value measurement, member
liabilities
Refer to child
Nature of liabilities Refer to child member Refer to child member
member

334
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] At fair value [Member]
Classes of liabilities [Axis] 2 3
All levels of fair value hierarchy All levels of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member] [Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of liabilities
[TextBlock]
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Refer to child Refer to child
Nature of liabilities Refer to child member
member member
Liabilities 220.87 0 7.21 3.96
Description of valuation techniques used in Refer to child Refer to child
Refer to child member
fair value measurement, liabilities member member
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, -220.87 -3.25 -3.96
liabilities
Total increase (decrease) in fair value
220.87 3.25 3.96
measurement, liabilities
Liabilities at end of period 220.87 0 7.21 3.96
Description of line items in profit or loss
Refer to child Refer to child
where gains (losses) are recognised, fair Refer to child member
member member
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are Refer to child Refer to child
Refer to child member
recognised, fair value measurement, member member
liabilities
Refer to child Refer to child
Nature of liabilities Refer to child member
member member

335
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] At fair value [Member]
Classes of liabilities [Axis] 3 4
All levels of fair
Levels of fair value hierarchy [Axis] value hierarchy All levels of fair value hierarchy [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of liabilities
[TextBlock]
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Nature of liabilities Refer to child member Refer to child member
Liabilities 0 624.85 525.48 0
Description of valuation techniques used in
Refer to child member Refer to child member
fair value measurement, liabilities
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, -99.37 -525.48
liabilities
Total increase (decrease) in fair value
99.37 525.48
measurement, liabilities
Liabilities at end of period 0 624.85 525.48 0
Description of line items in profit or loss
where gains (losses) are recognised, fair Refer to child member Refer to child member
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are
Refer to child member Refer to child member
recognised, fair value measurement,
liabilities
Nature of liabilities Refer to child member Refer to child member

336
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 1
Level 3 of fair
Levels of fair value hierarchy [Axis] All levels of fair value hierarchy [Member] value hierarchy
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of liabilities
[TextBlock]
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Borrowings (current
Nature of liabilities Refer to child member Refer to child member
and non-current)
Liabilities 0 395.53 0 0
Description of valuation techniques used in Textual information
Refer to child member Refer to child member
fair value measurement, liabilities (39) [See below]
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, 395.53 -395.53 395.53
liabilities
Total increase (decrease) in fair value
-395.53 395.53 -395.53
measurement, liabilities
Liabilities at end of period 0 395.53 0 0
Description of line items in profit or loss
Textual information
where gains (losses) are recognised, fair Refer to child member Refer to child member
(40) [See below]
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are Textual information
Refer to child member Refer to child member
recognised, fair value measurement, (41) [See below]
liabilities
Borrowings (current
Nature of liabilities Refer to child member Refer to child member
and non-current)

337
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(5)

Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 1 2
All levels of fair value hierarchy
Levels of fair value hierarchy [Axis] Level 3 of fair value hierarchy [Member]
[Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of liabilities
[TextBlock]
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Refer to child Refer to child
Nature of liabilities Borrowings (non-current)
member member
Liabilities 395.53 0 223.1 220.87
Description of valuation techniques used in Textual information (42) [See Refer to child Refer to child
fair value measurement, liabilities below] member member
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, -395.53 -2.23 -220.87
liabilities
Total increase (decrease) in fair value
395.53 2.23 220.87
measurement, liabilities
Liabilities at end of period 395.53 0 223.1 220.87
Description of line items in profit or loss
Textual information (43) [See Refer to child Refer to child
where gains (losses) are recognised, fair below] member member
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are Textual information (44) [See Refer to child Refer to child
recognised, fair value measurement, below] member member
liabilities
Refer to child Refer to child
Nature of liabilities Borrowings (non-current)
member member

338
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(6)

Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 2
All levels of fair
Levels of fair value hierarchy [Axis] value hierarchy Level 3 of fair value hierarchy [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of liabilities
[TextBlock]
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Lease Liability (current Lease Liability (current
Nature of liabilities and non current) and non current)
Liabilities 0 223.1 220.87 0
Description of valuation techniques used in Textual information (45) Textual information (46)
fair value measurement, liabilities [See below] [See below]
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, -2.23 -220.87
liabilities
Total increase (decrease) in fair value
2.23 220.87
measurement, liabilities
Liabilities at end of period 0 223.1 220.87 0
Description of line items in profit or loss
Textual information (47) Textual information (48)
where gains (losses) are recognised, fair [See below] [See below]
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are Textual information (49) Textual information (50)
recognised, fair value measurement, [See below] [See below]
liabilities
Lease Liability (current Lease Liability (current
Nature of liabilities and non current) and non current)

339
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(7)

Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 3
Level 3 of fair
Levels of fair value hierarchy [Axis] All levels of fair value hierarchy [Member] value hierarchy
[Member]
01/04/2022 01/04/2021 01/04/2022
to to 31/03/2021 to
31/03/2023 31/03/2022 31/03/2023
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of liabilities
[TextBlock]
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Other financial
Nature of liabilities Refer to child member Refer to child member liabilities
(non-current)
Liabilities 7.21 3.96 0 7.21
Description of valuation techniques used in Textual information
Refer to child member Refer to child member
fair value measurement, liabilities (51) [See below]
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, -3.25 -3.96 -3.25
liabilities
Total increase (decrease) in fair value
3.25 3.96 3.25
measurement, liabilities
Liabilities at end of period 7.21 3.96 0 7.21
Description of line items in profit or loss
Textual information
where gains (losses) are recognised, fair Refer to child member Refer to child member
(52) [See below]
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are Textual information
Refer to child member Refer to child member
recognised, fair value measurement, (53) [See below]
liabilities
Other financial
Nature of liabilities Refer to child member Refer to child member liabilities
(non-current)

340
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(8)

Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 3 4
All levels of fair value hierarchy
Levels of fair value hierarchy [Axis] Level 3 of fair value hierarchy [Member]
[Member]
01/04/2021 01/04/2022 01/04/2021
to 31/03/2021 to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of liabilities
[TextBlock]
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Other financial liabilities Refer to child Refer to child
Nature of liabilities (non-current) member member
Liabilities 3.96 0 624.85 525.48
Description of valuation techniques used in Textual information (54) [See Refer to child Refer to child
fair value measurement, liabilities below] member member
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, -3.96 -99.37 -525.48
liabilities
Total increase (decrease) in fair value
3.96 99.37 525.48
measurement, liabilities
Liabilities at end of period 3.96 0 624.85 525.48
Description of line items in profit or loss
Textual information (55) [See Refer to child Refer to child
where gains (losses) are recognised, fair below] member member
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are Textual information (56) [See Refer to child Refer to child
recognised, fair value measurement, below] member member
liabilities
Other financial liabilities Refer to child Refer to child
Nature of liabilities (non-current) member member

341
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of fair value measurement of liabilities [Table] ..(9)

Unless otherwise specified, all monetary values are in Crores of INR
Measurement [Axis] Recurring fair value measurement [Member]
Classes of liabilities [Axis] 4
All levels of fair
Levels of fair value hierarchy [Axis] value hierarchy Level 3 of fair value hierarchy [Member]
[Member]
01/04/2022 01/04/2021
31/03/2021 to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of liabilities
[TextBlock]
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Other financial liabilities Other financial liabilities
Nature of liabilities (current) (current)
Liabilities 0 624.85 525.48 0
Description of valuation techniques used in Textual information (57) Textual information (58)
fair value measurement, liabilities [See below] [See below]
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Losses (gains) recognised in profit
or loss, fair value measurement, -99.37 -525.48
liabilities
Total increase (decrease) in fair value
99.37 525.48
measurement, liabilities
Liabilities at end of period 0 624.85 525.48 0
Description of line items in profit or loss
Textual information (59) Textual information (60)
where gains (losses) are recognised, fair [See below] [See below]
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are Textual information (61) Textual information (62)
recognised, fair value measurement, [See below] [See below]
liabilities
Other financial liabilities Other financial liabilities
Nature of liabilities (current) (current)

Disclosure of significant unobservable inputs used in fair value measurement of assets [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Not measured at fair value in balance Sheet but for which fair value is disclosed
Measurement [Axis]
[Member]
Classes of assets [Axis] Classes of assets [Member] Other assets [Member]
Valuation techniques used in fair value measurement [Axis] Valuation techniques [Member] Valuation techniques [Member]
Range [Axis] Ranges [Member] Ranges [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Refer to child Refer to child Refer to child Refer to child
Nature of other assets member member member member
Disclosure of significant unobservable inputs used
in fair value measurement of assets [TextBlock]
Disclosure of significant unobservable inputs
used in fair value measurement of assets
[Abstract]
Disclosure of significant unobservable
inputs used in fair value measurement of
assets [Line items]
Refer to child Refer to child Refer to child Refer to child
Nature of other assets member member member member

342
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of significant unobservable inputs used in fair value measurement of assets [Table] ..(2)
Unless otherwise specified, all monetary values are in Crores of INR
Not measured at fair value in balance Sheet but for which fair value is disclosed
Measurement [Axis]
[Member]
Classes of assets [Axis] Other assets 1 [Member] Other assets 2 [Member]
Valuation techniques used in fair value measurement [Axis] Valuation techniques [Member] Valuation techniques [Member]
Range [Axis] Ranges [Member] Ranges [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Refer to child Refer to child Refer to child Refer to child
Nature of other assets member member member member
Disclosure of significant unobservable inputs used
in fair value measurement of assets [TextBlock]
Disclosure of significant unobservable inputs
used in fair value measurement of assets
[Abstract]
Disclosure of significant unobservable
inputs used in fair value measurement of
assets [Line items]
Refer to child Refer to child Refer to child Refer to child
Nature of other assets member member member member

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of fair value measurement [TextBlock]
Disclosure of fair value measurement of assets [TextBlock]
Whether assets have been measured at fair value Yes Yes
Disclosure of fair value measurement of liabilities [TextBlock]
Whether liabilities have been measured at fair value Yes Yes
Disclosure of fair value measurement of equity [TextBlock]
Whether equity have been measured at fair value No No
Disclosure of significant unobservable inputs used in fair value
measurement of assets [TextBlock]
Disclosure of significant unobservable inputs used in fair value
measurement of liabilities [TextBlock]

Textual information (27)

Description of valuation techniques used in fair value measurement, assets

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case
for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

Textual information (28)

Description of valuation techniques used in fair value measurement, assets

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case
for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

Textual information (29)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, assets
Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value recognised in
the statement of profit and loss. This category includes derivative instruments and listed equity investments which the Group had not
irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are recognised in the statement of profit and
loss when the right of payment has been established.

343
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (30)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, assets
Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value recognised in
the statement of profit and loss. This category includes derivative instruments and listed equity investments which the Group had not
irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are recognised in the statement of profit and
loss when the right of payment has been established.

Textual information (31)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, assets
Upon initial recognition the Company can elect to classify irrevocably its equity investments as equity instruments designated at fair value
through OCI when they meet the definition of equity under Ind AS 32 Financial Instruments: Presentation and are not held for trading. The
classification is determined on an instrument-by-instrument basis. Equity instruments which are held for trading and contingent consideration
recognised by an acquirer in a business combination to which Ind AS103 applies are classified as at FVTPL. Gains and losses on these
financial assets are never recycled to profit or loss. Dividends are recognised as other income in the statement of profit and loss when the
right of payment has been established except when the Company benefits from such proceeds as a recovery of part of the cost of the financial
asset in which case such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment
assessment.

Textual information (32)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, assets
"Upon initial recognition the Company can elect to classify irrevocably its equity investments as equity instruments designated at fair value
through OCI when they meet the definition of equity under Ind AS 32 Financial Instruments: Presentation and are not held for trading. The
classification is determined on an instrument-by-instrument basis. Equity instruments which are held for trading and contingent consideration
recognised by an acquirer in a business combination to which Ind AS103 applies are classified as at FVTPL. Gains and losses on these
financial assets are never recycled to profit or loss. Dividends are recognised as other income in the statement of profit and loss when the
right of payment has been established except when the Company benefits from such proceeds as a recovery of part of the cost of the financial
asset in which case such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment
assessment."

Textual information (33)

Description of valuation techniques used in fair value measurement, assets

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case
for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

Textual information (34)

Description of valuation techniques used in fair value measurement, assets

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case
for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

Textual information (35)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, assets
Financial assets at fair Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair
value recognised in the statement of profit and loss. This category includes derivative instruments and listed equity investments which the
Group had not irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are recognised in the
statement of profit and loss when the right of payment has been established.value through profit or loss are carried in the balance sheet at fair
value with net changes in fair value recognised in the statement of profit and loss. This category includes derivative instruments and listed
equity investments which the Group had not irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments
are recognised in the statement of profit and loss when the right of payment has been established.

344
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (36)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, assets
Financial assets at fair value through profit or loss are carried in the balance sheet at fair value with net changes in fair value recognised in
the statement of profit and loss. This category includes derivative instruments and listed equity investments which the Group had not
irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are recognised in the statement of profit and
loss when the right of payment has been established.

Textual information (37)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, assets
Upon initial recognition the Company can elect to classify irrevocably its equity investments as equity instruments designated at fair value
through OCI when they meet the definition of equity under Ind AS 32 Financial Instruments: Presentation and are not held for trading. The
classification is determined on an instrument-by-instrument basis. Equity instruments which are held for trading and contingent consideration
recognised by an acquirer in a business combination to which Ind AS103 applies are classified as at FVTPL. Gains and losses on these
financial assets are never recycled to profit or loss. Dividends are recognised as other income in the statement of profit and loss when the
right of payment has been established except when the Company benefits from such proceeds as a recovery of part of the cost of the financial
asset in which case such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment
assessment.

Textual information (38)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, assets
"Upon initial recognition the Company can elect to classify irrevocably its equity investments as equity instruments designated at fair value
through OCI when they meet the definition of equity under Ind AS 32 Financial Instruments: Presentation and are not held for trading. The
classification is determined on an instrument-by-instrument basis. Equity instruments which are held for trading and contingent consideration
recognised by an acquirer in a business combination to which Ind AS103 applies are classified as at FVTPL. Gains and losses on these
financial assets are never recycled to profit or loss. Dividends are recognised as other income in the statement of profit and loss when the
right of payment has been established except when the Company benefits from such proceeds as a recovery of part of the cost of the financial
asset in which case such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment
assessment."

Textual information (39)

Description of valuation techniques used in fair value measurement, liabilities

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

345
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (40)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, liabilities

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Company that are not designated as hedging instruments in hedge relationship as defined by
Ind AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Textual information (41)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, liabilities

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value
of such liability are recognized in the statement of profit or loss. the Company has not designated any financial liability as at
fair value through profit and loss.

Textual information (42)

Description of valuation techniques used in fair value measurement, liabilities

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

346
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (43)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, liabilities

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Company that are not designated as hedging instruments in hedge relationship as defined by
Ind AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Textual information (44)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, liabilities

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value
of such liability are recognized in the statement of profit or loss. the Company has not designated any financial liability as at
fair value through profit and loss.

Textual information (45)

Description of valuation techniques used in fair value measurement, liabilities

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

347
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (46)

Description of valuation techniques used in fair value measurement, liabilities

If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is
the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

Textual information (47)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, liabilities

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Company that are not designated as hedging instruments in hedge relationship as defined by
Ind AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Textual information (48)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, liabilities

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Company that are not designated as hedging instruments in hedge relationship as defined by
Ind AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

348
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (49)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, liabilities

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value
of such liability are recognized in the statement of profit or loss. the Company has not designated any financial liability as at
fair value through profit and loss.

Textual information (50)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, liabilities

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value
of such liability are recognized in the statement of profit or loss. the Company has not designated any financial liability as at
fair value through profit and loss.

Textual information (51)

Description of valuation techniques used in fair value measurement, liabilities

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

349
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (52)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, liabilities

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Company that are not designated as hedging instruments in hedge relationship as defined by
Ind AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Textual information (53)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, liabilities

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value
of such liability are recognized in the statement of profit or loss. the Company has not designated any financial liability as at
fair value through profit and loss.

Textual information (54)

Description of valuation techniques used in fair value measurement, liabilities

If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is
the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

350
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (55)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, liabilities

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Company that are not designated as hedging instruments in hedge relationship as defined by
Ind AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Textual information (56)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, liabilities

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value
of such liability are recognized in the statement of profit or loss. the Company has not designated any financial liability as at
fair value through profit and loss.

Textual information (57)

Description of valuation techniques used in fair value measurement, liabilities

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

351
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (58)

Description of valuation techniques used in fair value measurement, liabilities

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.

Textual information (59)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, liabilities

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Company that are not designated as hedging instruments in hedge relationship as defined by
Ind AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

Textual information (60)

Description of line items in profit or loss where gains (losses) are recognised, fair value measurement, liabilities

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if
they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial
instruments entered into by the Company that are not designated as hedging instruments in hedge relationship as defined by
Ind AS 109. The separated embedded derivate are also classified as held for trading unless they are designated as effective
hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit and loss.

352
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (61)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, liabilities

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value
of such liability are recognized in the statement of profit or loss. the Company has not designated any financial liability as at
fair value through profit and loss.

Textual information (62)

Description of line items in other comprehensive income where gains (losses) are recognised, fair value
measurement, liabilities

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated as such at the initial
date of recognition, and only if the criteria in IND AS 109 are satisfied. For liabilities designated as FVTPL, fair value gains/
losses attributable to changes in own credit risk are recognized in OCI. These gains/ loss are not subsequently transferred to
profit and loss. However, the Company may transfer the cumulative gain or loss within equity. All other changes in fair value
of such liability are recognized in the statement of profit or loss. the Company has not designated any financial liability as at
fair value through profit and loss.

[613300] Notes - Operating segments

Disclosure of reportable segments [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Entity's reportable segments [Axis] Reportable segments 1 [Member] Reportable segments 2 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of reportable segments [TextBlock]
Disclosure of reportable segments [Abstract]
Disclosure of reportable segments [Line items]
Nature of reportable segment Switchgears Switchgears Cables Cables
Revenue primary reportable segment 2,120.19 1,795.97 5,532.6 4,645.08
Total revenues from external customers and
transactions with other reportable segments 2,120.19 1,795.97 5,532.6 4,645.08
of same enterprise reportable segment
Profit (loss) from continuing operations
556.55 493.54 524.67 540.5
reportable segment
Profit (loss) reportable segment 556.55 493.54 524.67 540.5
Assets reportable segment 580.76 612.08 1,309.14 1,126.72
Liabilities reportable segment 387.87 335.03 859.26 739.65

353
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of reportable segments [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Entity's reportable segments [Axis] Reportable segments 3 [Member] Reportable segments 4 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of reportable segments [TextBlock]
Disclosure of reportable segments [Abstract]
Disclosure of reportable segments [Line items]
Lighting and Electrical consumer Electrical consumer
Nature of reportable segment fixtures
Lighting and fixtures
durables durables
Revenue primary reportable segment 1,614.54 1,391.6 3,298.21 3,073.94
Total revenues from external customers and
transactions with other reportable segments 1,614.54 1,391.6 3,298.21 3,073.94
of same enterprise reportable segment
Profit (loss) from continuing operations
247.99 262.21 419.01 457.59
reportable segment
Profit (loss) reportable segment 247.99 262.21 419.01 457.59
Assets reportable segment 694.29 612.15 1,143.17 1,240.43
Liabilities reportable segment 345.74 265.53 621.87 681.04

Disclosure of reportable segments [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Entity's reportable segments [Axis] Reportable segments 5 [Member] Reportable segments 6 [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of reportable segments [TextBlock]
Disclosure of reportable segments [Abstract]
Disclosure of reportable segments [Line items]
Nature of reportable segment Lloyd Consumer Lloyd Consumer Others Others
Revenue primary reportable segment 3,394.92 2,273.16 950.27 758.73
Total revenues from external customers and
transactions with other reportable segments 3,394.92 2,273.16 950.27 758.73
of same enterprise reportable segment
Profit (loss) from continuing operations
-223.27 -73.46 35 56.9
reportable segment
Profit (loss) reportable segment -223.27 -73.46 35 56.9
Assets reportable segment 4,262.91 3,076.17 285.57 239.47
Liabilities reportable segment 1,105.28 907.4 201.92 123.43

Disclosure of reportable segments [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Entity's reportable segments [Axis] Material reconciling items [Member] Unallocated amounts [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of reportable segments [TextBlock]
Disclosure of reportable segments [Abstract]
Disclosure of reportable segments [Line items]
Refer to child Refer to child
Nature of reportable segment member member
unallocated unallocated

Revenue primary reportable segment 0 0 0 0

Total revenues from external customers and
transactions with other reportable segments 0 0 0 0
of same enterprise reportable segment
Profit (loss) from continuing operations
0 0 0 0
reportable segment
Profit (loss) reportable segment -112.89 -540.81 (A) -112.89 (B) -540.81
Assets reportable segment 2,881.6 3,616.19 (C) 2,881.6 (D) 3,616.19
Liabilities reportable segment 1,010.05 1,468.24 (E) 1,010.05 (F) 1,468.24

354
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Footnotes
(A)
Particulars 2022-23

Other unallocable expenses net off -256.98

Other unallocable income 177.71

Finance Costs (refer note 27) -33.62

a) Loss due to fire 112.52

b) Insurance claim receivable -112.52

(B)
Particulars 2021-22

Other unallocable expenses net off -237.75

Other unallocable income 160.44

Finance Costs {refer note 27} -53.41

Income tax expense {refer note 16} -410.09

(C)
Particulars 2022-23

Cash and bank balance {refer note ,6(C), 10(C) and (D)} 1985.41

Fixed deposits with financial institutions {refer note 6(A) and 10(A)} 200.87

Other unallocable assets 695.32

(D)
Particulars 2021-22

Cash and bank balance {refer note ,6(C), 10(C) and (D)} 2568.18

Fixed deposits with financial institutions {refer note 6(A) and 10(A)} 272.68

Other unallocable assets 775.33

(E)
Particulars 2022-23

Lease Liabilities{refer note 14(B) and 17(B)} 223.1

Deferred tax liability {refer note 16(d)} 361.51

Current tax liabilities (net){refer note 19} 32.26

Other unallocable liabilities 393.18

(F)
Particulars 2021-22

Borrowings {refer note 14(A) and 17(A) } 393.69

Lease Liabilities{refer note 14(B) and 17 (B)} 220.87

Deferred tax liability {refer note 16(d)} 350.62

Current tax liabilities (net){refer note 19} 62.83

Other unallocable liabilities 440.23

355
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of geographical areas [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Geographical areas [Axis] Country of domicile [Member] Foreign countries [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Revenue from external customers 16,425.15 13,434.04 485.58 504.44
Disclosure of geographical areas [TextBlock]
Disclosure of geographical areas [Abstract]
Disclosure of geographical areas [Line items]
Refer to child Refer to child
Country of domicile or foreign country INDIA INDIA
member member
Revenue from external customers 16,425.15 13,434.04 485.58 504.44
Non-current assets other than financial
instruments, deferred tax assets,
3,858.66 3,532.52 7.34 1.23
post-employment benefit assets, and rights
arising under insurance contracts
Revenue from external customers 16,425.15 13,434.04 485.58 504.44

Disclosure of geographical areas [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Geographical areas [Axis] Foreign country 1 [Member]
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Revenue from external customers 485.58 504.44
Disclosure of geographical areas [TextBlock]
Disclosure of geographical areas [Abstract]
Disclosure of geographical areas [Line items]
Country of domicile or foreign country Outside India Outside India
Revenue from external customers 485.58 504.44
Non-current assets other than financial instruments, deferred tax assets,
post-employment benefit assets, and rights arising under insurance 7.34 1.23
contracts
Revenue from external customers 485.58 504.44

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (63)
Disclosure of entity's operating segments [TextBlock] [See below]
Disclosure of reportable segments [TextBlock]
Whether there are any reportable segments Yes Yes
Disclosure of products and services [TextBlock]
Disclosure of geographical areas [TextBlock]
Disclosure of major customers [TextBlock]
Whether there are any major customers No No

356
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (63)

Disclosure of entity's operating segments [Text Block]

4.Segment Reporting

The segment reporting of the Group has been prepared in accordance with Ind AS-108, "Operating Segment" ( specified
under the section 133 of the Companies Act 2013 (the Act) read with Companies (Indian Accounting Standards) Rule 2015
(as amended from time to time) and other relevant provision of the Act ). For management purposes, the Group is organized
into business units based on its products and services and has six reportable segments as follows:

a)Operating Segments

Switchgears: Domestic and Industrial switchgears, electrical wiring accessories and capacitors.

Cables: Domestic cables and Industrial underground cables.

Lighting and Fixtures: Energy Saving Lamps (LED, Fixtures) and luminaries.

Electrical Consumer Durables: Fans, Water Heaters, Coolers, and Domestic Appliances

Lloyd Consumer: Air Conditioner, Television, Refrigerator and Washing Machine

Others: Industrial motors, Pump, Water purifier, Solar, Personal Grooming

b)Identification of Segments:

The Board of Directors monitors the operating results of its business segments separately for the purpose of making
decisions about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss
and is measured consistently with profit or loss in the financial statements. Operating segments have been identified on the
basis of the nature of product / services and have been identified as per the quantitative criteria specified in the Ind AS.

c)Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the
segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable
basis have been disclosed as "unallocable".

d)Segment assets and segment liabilities represent assets and liabilities in respective segments. Investments, tax related
assets, borrowings and other assets and liabilities that can not be allocated to a segment on reasonable basis have been
disclosed as "unallocable".

e)There is no transfer of products between operating segments.

f)There are no customers having revenue exceeding 10% of total revenues

g)No operating segments have been aggregated to form the above reportable operating segments.

Year ended Year ended

Summary of Segmental Information March 31,2023 March 31, 2022

357
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(Rs. in crores) (Rs. in crores)

A. Revenue from operations

Segment Revenue (Sales and other operating revenue)

Switchgears 2,120.19 1,795.97

Cables 5,532.60 4,645.08

Lighting and fixtures 1,614.54 1,391.60

Electrical consumer durables 3,298.21 3,073.94

Lloyd Consumer 3,394.92 2,273.16

Others 950.27 758.73

16,910.73 13,938.48

Inter Segment Sale

- -

Total segment revenue 16,910.73 13,938.48

B. Results

Segment results

Switchgears 556.55 493.54

Cables 524.67 540.5

Lighting and fixtures 247.99 262.21

Electrical consumer durables 419.01 457.59

Lloyd Consumer -223.27 -73.46

Others 35 56.9

Segment profit 1,559.95 1,737.28

358
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Reconciliation of segment operating profit to operating profit

Unallocated:

Other unallocable expenses net off -256.98 -237.75

Other unallocable income 177.71 160.44

Operating Profit 1,480.68 1,659.97

Finance Costs (refer note 27) -33.62 -53.41

Profit before exceptional items and tax 1,447.06 1,606.56

Exceptional Items

a) Loss due to fire 112.52

-

b) Insurance claim receivable -112.52

-

Net Profit/ (Loss) for the year before tax and after exceptional items 1,447.06 1,606.56

Income tax expense (refer note 16) -375.33 -410.09

Profit after tax 1,071.73 1,196.47

C. Reconciliations to amounts reflected in the financial statements

Segment Assets

Switchgears 580.76 612.08

Cables 1,309.14 1,126.72

Lighting and fixtures 694.29 612.15

Electrical consumer durables 1,143.17 1,240.43

Lloyd Consumer 4,262.91 3,076.17

359
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Others 285.57 239.47

Segment operating assets 8,275.84 6,907.02

Reconciliation of segment operating assets to total assets

Cash and bank balance refer note ,6(C), 10(C) and (D) 1,985.41 2,568.18

Fixed deposits with financial institutions refer note 6(A) and 10(A) 200.87 272.68

Other unallocable assets 695.32 775.33

Total assets 11,157.44 10,523.21

Segment Liabilities

Switchgears 387.87 335.03

Cables 859.26 739.65

Lighting and fixtures 345.74 265.53

Electrical consumer durables 621.87 681.04

Lloyd Consumer 1,105.28 907.4

Others 201.92 123.43

Segment operating liabilities 3,521.94 3,052.08

Reconciliation of segment operating liabilities to total liabilities

Borrowings refer note 14(A) and 17(A) 393.69

-

Lease Liabilitiesrefer note 14(B) and 17(B) 223.1 220.87

Deferred tax liability refer note 16(d) 361.51 350.62

Current tax liabilities (net)refer note 19 32.26 62.83

Other unallocable liabilities 393.18 440.23

360
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Total liabilities 4,531.99 4,520.32

Other non-current assets

Switchgears 1.24 0.62

Cables 27.78 4.11

Lighting and fixtures 7.15 0.01

Electrical consumer durables 2.08 0.65

Lloyd Consumer 5.1 0.35

Others 2.64 0.1

45.99 5.84

Unallocable assets 32.95 37.09

78.94 42.93

Capital Expenditure

Switchgears 27.28 37.43

Cables 19.67 21.04

Lighting and fixtures 22.28 13.33

Electrical consumer durables 41.91 70.18

Lloyd Consumer 404.36 78.38

Others 6.88 7.43

522.38 227.79

Unallocable capital expenditure 48.74 28.3

571.12 256.09

361
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Depreciation and Amortization Expenses

Switchgears 49.83 47.29

Cables 64.38 61.01

Lighting and fixtures 18.94 17.45

Electrical consumer durables 54.3 49.23

Lloyd Consumer 95.62 74.3

Others 13.1 11.54

296.17 260.82

Non-cash expenses (net) other than depreciation

Switchgears 2.82 0.38

Cables 6.47 -1.1

Lighting and fixtures 1.48 12.22

Electrical consumer durables 3.45 0.41

Lloyd Consumer 3.46 2.13

Others 0.89 0.07

18.57 14.11

Impairment allowance on other assets

- -

18.57 14.11

Note: Non cash expenses other than depreciation includes loss on

disposal of property, plant and equipment, bad debts and
Impairment allowance for trade receivables and other assets
considered doubtful

Segment Revenue by location of customers

The following is the distribution of Group's revenue by geographical

market, regardless of where the goods were produced.

Revenue-Domestic Market 16,425.15 13,434.04

362
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Revenue-Overseas Market 485.58 504.44

16,910.73 13,938.48

Geographical Segment assets

Within India 11,099.58 10,443.61

Outside India 57.86 79.6

11,157.44 10,523.21

Geographical Non-current assets

Within India 3,858.66 3,532.52

Outside India 7.34 1.23

3,866.00 3,533.75

Note:- Non Current assets for this purpose excludes investment in subsidiaries, Contract assets, non current financial assets
and non current tax assets

Notes:

(i)Finance income and costs on financial assets are not allocated to individual segments as the underlying instruments are
managed at Group level.

(ii)Current taxes, deferred taxes and certain financial assets and liabilities are not allocated to those segments as they are
also managed at Group level

(iii)Capital expenditure consists of additions of property, plant and equipment, Capital work in progress and intangible assets

(iv)There is no single external customer accounting to 10 per cent or more of an Group’s revenues

363
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[610700] Notes - Business combinations

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of business combinations [TextBlock]
Whether there is any business combination No No
Disclosure of reconciliation of changes in goodwill [TextBlock]
Whether there is any goodwill arising out of business combination No No
Disclosure of acquired receivables [TextBlock]
Whether there are any acquired receivables from business combination No No
Disclosure of contingent liabilities in business combination [TextBlock]
Whether there are any contingent liabilities in business combination No No

364
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[611500] Notes - Interests in other entities

Disclosure of details of subsidiaries [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Subsidiaries [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of interests in other entities [TextBlock]
Disclosure of interests in subsidiaries [TextBlock]
Disclosure of subsidiaries [TextBlock]
Disclosure of subsidiaries [Abstract]
Disclosure of subsidiaries [Line items]
Havells
Havells Havells Holdings
Havells Guangzhou Guangzhou
Name of subsidiary International Limited
Holdings Limited (dissolved on
International
Limited October 27, 2022)
Limited
Country of incorporation or residence of
CHINA ISLE OF MAN ISLE OF MAN CHINA
subsidiary
Identification number of foreign
S0102016009200
subsidiary in country of incorporation S0102016009200 (1-1) 00475V S0102016009200 (1-1)
(1-1)
or residence
Section under which company became subsidiary Section 2(87)(ii) Section 2(87)(ii) Section 2(87)(ii) Section 2(87)(ii)
Whether subsidiary has filed balance sheet No No No No
Reason if no filing has been made by Foreign
Foreign Company Foreign Company Foreign Company
subsidiary Company
Whether financial year of subsidiary
different from financial year of No No No
holding company
Financial year of subsidiary [Abstract]
Start date of accounting period of
01/04/2022 01/04/2021 01/04/2022 01/04/2021
subsidiary
End date of accounting period of
31/03/2023 31/03/2022 31/03/2023 31/03/2022
subsidiary
Percentage of shareholding in subsidiary 100.00% 100.00% 100.00% 100.00%
Key information about subsidiary [Abstract]
Reporting currency of subsidiary CNY EUR EUR CNY
Exchange rate as applicable for subsidiary 11.96 84.66 89.61 11.95
Share capital of subsidiary 0.45 13.65 0 0.45
Reserves and surplus of subsidiary 10.97 -9.56 0 11.33
Total assets of subsidiary 14.69 4.45 0 15.23
Total liabilities of subsidiary 3.27 0.35 0 3.45
Investment of subsidiary 0 0 0 0
Turnover of subsidiary 42.35 0 0 51.94
Profit before tax of subsidiary -0.29 0.32 -0.04 2.45
Provision for tax of subsidiary 0.03 0 0 1.03
Profit after tax of subsidiary -0.32 0.32 -0.04 1.42
Proposed dividend of subsidiary 0 0 0 0
Havells
Havells Havells Holdings
Havells Guangzhou Guangzhou
Name of subsidiary International Limited
Holdings Limited (dissolved on
International
Limited October 27, 2022)
Limited
Country of incorporation or residence of
CHINA ISLE OF MAN ISLE OF MAN CHINA
subsidiary
Identification number of foreign
S0102016009200
subsidiary in country of incorporation S0102016009200 (1-1) 00475V S0102016009200 (1-1)
(1-1)
or residence

365
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of joint ventures [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Joint ventures [Axis] 1
01/04/2021
to
31/03/2022
Disclosure of interests in other entities [TextBlock]
Disclosure of interests in joint arrangements [TextBlock]
Disclosure of joint ventures [TextBlock]
Disclosure of joint ventures [Abstract]
Disclosure of joint ventures [Line items]
Jiangsu Havells
Name of joint venture Sylvania Lighting
Co. Ltd.
Country of incorporation of joint venture CHINA
Proportion of ownership interest in joint venture 50.00%
Proportion of voting rights held in joint venture 50.00%

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of interests in other entities [TextBlock]
Disclosure of interests in subsidiaries [TextBlock]
Disclosure of subsidiaries [TextBlock]
Whether company has subsidiary companies Yes Yes
Number of subsidiary companies [pure] 2 [pure] 2
Whether company has subsidiary companies which are yet to commence
No No
operations
Whether company has subsidiary companies liquidated or sold during
No No
year
Disclosure of interests in associates [TextBlock]
Disclosure of associates [TextBlock]
Whether company has invested in associates No No
Whether company has associates which are yet to commence operations No No
Whether company has associates liquidated or sold during year No No
Disclosure of interests in joint arrangements [TextBlock]
Disclosure of joint ventures [TextBlock]
Whether company has invested in joint ventures No No
Whether company has joint ventures which are yet to commence
No No
operations
Whether company has joint ventures liquidated or sold during year No No
Disclosure of interests in unconsolidated structured entities [TextBlock]
Disclosure of unconsolidated structured entities [TextBlock]
Whether there are unconsolidated structured entities No No
Disclosure of investment entities [TextBlock]
Disclosure of information about unconsolidated subsidiaries [TextBlock]
Whether there are unconsolidated subsidiaries No No
Disclosure of information about unconsolidated structured entities
controlled by investment entity [TextBlock]
Whether there are unconsolidated structured entities controlled by
No No
investment entity

366
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[613400] Notes - Consolidated Financial Statements

Disclosure of details of subsidiaries [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Subsidiaries [Axis] 1 2
01/04/2022 01/04/2022
to to
31/03/2023 31/03/2023
Disclosure of notes on consolidated financial statements explanatory [TextBlock]
Disclosure of details of subsidiaries [TextBlock]
Disclosure of details of subsidiaries [Abstract]
Disclosure of details of subsidiaries [LineItems]
Havells Guangzhou
Havells Holdings
Name of subsidiary consolidated Limited
International
Limited
Principal place of business of subsidiary consolidated ISLE OF MAN CHINA
Country of incorporation or residence of subsidiary consolidated ISLE OF MAN CHINA
Date of end of reporting period of financial statements of subsidiary
31/03/2022 31/03/2022
consolidated
Description of reason why using different reporting date or period for
- -
subsidiary consolidated
Proportion of ownership interest in subsidiary consolidated 100.00% 100.00%
Proportion of voting power held in subsidiary consolidated 100.00% 100.00%

Disclosure of details of entities consolidated [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Entities consolidated [Axis] 1 2 3
01/04/2022 01/04/2022 01/04/2022
to to to
31/03/2023 31/03/2023 31/03/2023
Disclosure of notes on consolidated financial statements explanatory
[TextBlock]
Disclosure of additional information consolidated financial statements
[TextBlock]
Disclosure of additional information consolidated financial statements
[Abstract]
Disclosure of additional information consolidated financial
statements [Line items]
Havells Guanzhou
Havells India Havells Holdings
Name of entity consolidated Limited Limited
International
Limited
Type of entity consolidated Parent Foreign Subsidiary Foreign Subsidiary
Amount of net assets of entity consolidated 0 0 0
Net assets of entity as percentage of consolidated net assets 0.00% 0.00% 0.00%
Amount of share in profit or loss of entity consolidated 0 0 0
Share in profit or loss of entity as percentage of
0.00% 0.00% 0.00%
consolidated profit or loss
Amount of share in other comprehensive income consolidated 0 0 0
Share in other comprehensive income consolidated 0.00% 0.00% 0.00%
Amount of share in comprehensive income consolidated 0 0 0
Share in comprehensive income consolidated 0.00% 0.00% 0.00%

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022
to
31/03/2023
Disclosure of notes on consolidated financial statements explanatory
[TextBlock]
Whether consolidated financial statements is applicable on company Yes
Disclosure of details of subsidiaries [TextBlock]
Disclosure of additional information consolidated financial statements
[TextBlock]

367
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[611400] Notes - Separate financial statements

Disclosure of subsidiaries [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Subsidiaries [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of separate financial statements [TextBlock]
Disclosure of subsidiaries [TextBlock]
Disclosure of subsidiaries [Abstract]
Disclosure of subsidiaries [Line items]
Havells
Havells Havells Holdings
Havells Guangzhou Guangzhou
Name of subsidiary International Limited
Holdings Limited (dissolved on
International
Limited October 27, 2022)
Limited
Identification number of foreign
S0102016009200
subsidiary in country of incorporation or S0102016009200 (1-1) 00475V S0102016009200 (1-1)
(1-1)
residence
Country of incorporation or residence of
CHINA ISLE OF MAN ISLE OF MAN CHINA
subsidiary
Proportion of ownership interest in subsidiary 100.00% 100.00% 100.00% 100.00%
Proportion of voting rights held in subsidiary 100.00% 100.00% 100.00% 100.00%

Disclosure of joint ventures [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Joint ventures [Axis] 1
01/04/2021
to
31/03/2022
Disclosure of separate financial statements [TextBlock]
Disclosure of joint ventures [TextBlock]
Disclosure of joint ventures [Abstract]
Disclosure of joint ventures [Line items]
Jiangsu Havells
Name of joint venture Sylvania Lighting
Co. Ltd.
Country of incorporation of joint venture CHINA
Proportion of ownership interest in joint venture 50.00%
Proportion of voting rights held in joint venture 50.00%

368
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[610800] Notes - Related party

Disclosure of transactions between related parties [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Entities with joint control or significant influence over entity [Member]
Related party [Axis] 1 9 21
01/04/2022 01/04/2021 01/04/2022 01/04/2022
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2023
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Manipal Health Manipal Health Guptajee &
Name of related party Enterprises Pvt. Ltd Enterprises Pvt. Ltd Company
SRF Limited

Country of incorporation or residence of

INDIA
related party
Permanent account number of related party AAAFG1846Q
Description is Description is Description is
Description is
Description of nature of transactions with mentioned mentioned mentioned
mentioned alongwith
related party alongwith the alongwith the alongwith the
the relevant lineitem
relevant lineitem relevant lineitem relevant lineitem
Enterprises in which Enterprises in which Enterprises in which Enterprises in which
Description of nature of related party
directors are having directors are having Directors are directors are having
relationship significant influence significant influence interested significant influence
Related party transactions [Abstract]
Purchases of goods related party transactions (A) 17.87
Other related party transactions income (B) 7.21
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 (C) 1.39
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Footnotes
(A)
Particulars 2022-23

Purchase of goods and stores & spares 17.87

(B)
Particulars 2022-23

Sale of products 7.21

(C)
Particulars 2022-23

Amount Payables 1.39

369
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Joint ventures
Entities with joint control or significant influence over entity where entity is
Categories of related parties [Axis]
[Member] venturer
[Member]
Related party [Axis] 21 25 34
01/04/2021 01/04/2022 01/04/2021 01/04/2021
to to to to
31/03/2022 31/03/2023 31/03/2022 31/03/2022
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
"Jiangsu Havells
Guptajee and
Name of related party SRF Limited
Company
Guptajee & Co. Sylvania Lighting
Co., Ltd"
Description is Description is Description is
Description is
Description of nature of transactions with mentioned mentioned mentioned
mentioned alongwith
related party alongwith the alongwith the alongwith the
the relevant lineitem
relevant lineitem relevant lineitem relevant lineitem
Enterprises in which Enterprises in which Enterprises in which 50% ownership
Description of nature of related party
directors are having directors are having directors are having interest held by
relationship significant influence significant influence significant influence Company
Related party transactions [Abstract]
Purchases of goods related party transactions 3.93
Other related party transactions expense (A) 20.65 (B) 16.18
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 1.25 (C) 5.26 (D) 1.68 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Footnotes
(A)
Particulars 2022-23

Commission on sales 20.65

(B)
Commission on Sale
(C)
Particulars 2022-23

Amount Payables 5.26

(D)
Amount Payable

370
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Key management personnel of entity or parent [Member]
Related party [Axis] 3 4
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Shri Rajesh Kumar Shri Rajesh Kumar
Name of related party Shri Anil Rai Gupta Shri Anil Rai Gupta
Gupta Gupta
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
related party
Permanent account number of related party AAAPG8092J AAAPG8092J AAAPG2139E AAAPG2139E
Description is Description is
Description is Description is
Description of nature of transactions with mentioned mentioned
mentioned alongwith mentioned alongwith
related party alongwith the alongwith the
the relevant lineitem the relevant lineitem
relevant lineitem relevant lineitem
Description of nature of related party Chairman and Chairman and Director (Finance) Director (Finance)
relationship Managing Director Managing Director and Group CFO and Group CFO
Related party transactions [Abstract]
Other related party transactions expense 26.72 27.98
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

371
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(4)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Key management personnel of entity or parent [Member]
Related party [Axis] 5 6
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Shri Ameet Kumar Shri Ameet Kumar Shri Sanjay Kumar Shri Sanjay Kumar
Name of related party Gupta Gupta Gupta Gupta
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
related party
Permanent account number of related party AAAPG7156P AAAPG7156P AALPG9513F AALPG9513F
Description is Description is
Description is Description is
Description of nature of transactions with mentioned mentioned
mentioned alongwith mentioned alongwith
related party alongwith the alongwith the
the relevant lineitem the relevant lineitem
relevant lineitem relevant lineitem
Description of nature of related party Whole time
Whole time Director Company Secretary Company Secretary
relationship Director
Related party transactions [Abstract]
Other related party transactions expense 10.65 1.05
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

372
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(5)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Key management personnel of entity or parent [Member]
Related party [Axis] 10 11
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Shri Ashish Bharat Shri Ashish Bharat
Name of related party Ram Ram
Smt Namrata Kaul Smt Namrata Kaul
Description is Description is
Description is Description is
Description of nature of transactions with mentioned mentioned
mentioned alongwith mentioned alongwith
related party alongwith the alongwith the
the relevant lineitem the relevant lineitem
relevant lineitem relevant lineitem
Description of nature of related party Non Executive Non Executive Non Executive Non Executive
relationship Directors Directors Directors Directors
Related party transactions [Abstract]
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

373
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(6)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Key management personnel of entity or parent [Member]
Related party [Axis] 12 18
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Shri Siddhartha Shri Siddhartha
Name of related party Shri S S Mundra Shri S S Mundra
Pandit Pandit
Country of incorporation or residence of
INDIA INDIA
related party
Permanent account number of related party AGYPP9893Q AGYPP9893Q
Description is Description is
Description is Description is
Description of nature of transactions with mentioned mentioned
mentioned alongwith mentioned alongwith
related party alongwith the alongwith the
the relevant lineitem the relevant lineitem
relevant lineitem relevant lineitem
Description of nature of related party Non Executive Non Executive Whole time
Whole time Director
relationship Directors Directors Director
Related party transactions [Abstract]
Other related party transactions expense 1.21
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

374
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(7)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Key management personnel of entity or parent [Member]
Related party [Axis] 30 31
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Yogesh Kumar
Name of related party Rakesh Mehrotra Rakesh Mehrotra
Gupta
Yogesh Kumar Gupta
Description is Description is
Description is Description is
Description of nature of transactions with mentioned mentioned
mentioned alongwith mentioned alongwith
related party alongwith the alongwith the
the relevant lineitem the relevant lineitem
relevant lineitem relevant lineitem
Description of nature of related party
Associate Director Associate Director Associate Director Associate Director
relationship
Related party transactions [Abstract]
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

375
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(8)

Unless otherwise specified, all monetary values are in Crores of INR
Key management personnel of entity or
Categories of related parties [Axis] Other related parties [Member]
parent [Member]
Related party [Axis] 32 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Havells India Havells India Limited
Name of related party Shri Vivek Mehra Shri Vivek Mehra Limited Employees Employees Gratuity
Gratuity Trust Trust
Country of incorporation or residence of
INDIA INDIA
related party
Permanent account number of related party AAATH9117K AAATH9117K
Description is Description is
Description is Description is
Description of nature of transactions with mentioned mentioned
mentioned alongwith mentioned alongwith
related party alongwith the alongwith the
the relevant lineitem the relevant lineitem
relevant lineitem relevant lineitem
Post employee
Post employee
Description of nature of related party Non Executive Non Executive benefit plan for the
benefit plan for the
relationship Directors Directors benefitted
benefitted employees
employees
Related party transactions [Abstract]
Other related party transactions
(A) 18.25
contribution made
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Footnotes
(A) Contribution to post employee benefit plan: 18.25

376
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(9)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 7 8
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Q R G Q R G
Name of related party ENTERPRISES ENTERPRISES QRG Foundation QRG Foundation
LIMITED. LIMITED.
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
related party
Permanent account number of related party AAACH0011R AAACH0011R AAATI0560R AAATI0560R
Description is Description is
Description is Description is
Description of nature of transactions with mentioned mentioned
mentioned alongwith mentioned alongwith
related party alongwith the alongwith the
the relevant lineitem the relevant lineitem
relevant lineitem relevant lineitem
Enterprises in Enterprises in which Enterprises in Enterprises in which
Description of nature of related party
which Directors are Directors are which Directors are Directors are
relationship interested interested interested interested
Related party transactions [Abstract]
Other related party transactions expense (A) 27.09 (B) 3.63
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Footnotes
(A) Rent / Usage Charges Paid: 27.07, Reimbursement of expenses paid: 0.02
(B) CSR Contribution: 3.63

377
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(10)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 9 13 14
01/04/2021 01/04/2022 01/04/2021 01/04/2022
to to to to
31/03/2022 31/03/2023 31/03/2022 31/03/2023
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Guptajee & Shri Surender Shri Surender Kumar
Name of related party Company Kumar Tuteja Tuteja
Smt.Pratima Ram

Country of incorporation or residence of

INDIA INDIA INDIA INDIA
related party
Permanent account number of related party AAAFG1846Q AAGPT7092R AAGPT7092R ABNPR8942E
Description is Description is Description is
Description is
Description of nature of transactions with mentioned mentioned mentioned
mentioned alongwith
related party alongwith the alongwith the alongwith the
the relevant lineitem
relevant lineitem relevant lineitem relevant lineitem
Enterprises in which
Description of nature of related party Non Excecutive Non Excecutive Non Executive
Directors are
relationship Directors Directors Directors
interested
Related party transactions [Abstract]
Other related party transactions expense (A) 16.18
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 1.68 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Footnotes
(A) Commission on sales (refer note ( c ) below) : 16.18

378
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(11)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 14 15 16
01/04/2021 01/04/2022 01/04/2021 01/04/2022
to to to to
31/03/2022 31/03/2023 31/03/2022 31/03/2023
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Shri Vellayan Shri Vellayan
Name of related party Smt.Pratima Ram
Subbiah Subbiah
Shri Puneet Bhatia

Country of incorporation or residence of

INDIA INDIA INDIA INDIA
related party
Permanent account number of related party ABNPR8942E AADPV8920B AADPV8920B AAAPB1298H
Description is Description is Description is
Description is
Description of nature of transactions with mentioned mentioned mentioned
mentioned alongwith
related party alongwith the alongwith the alongwith the
the relevant lineitem
relevant lineitem relevant lineitem relevant lineitem
Description of nature of related party Non Executive Non Executive Non Executive Non Executive
relationship Directors Directors Directors Directors
Related party transactions [Abstract]
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

379
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(12)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 16 17 19
01/04/2021 01/04/2022 01/04/2021 01/04/2022
to to to to
31/03/2022 31/03/2023 31/03/2022 31/03/2023
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Shri TV Mohandas Shri TV Mohandas Shri Jalaj Ashwin
Name of related party Shri Puneet Bhatia
Pai Pai Dani
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
related party
Permanent account number of related party AAAPB1298H AALPP7828G AALPP7828G AAAPD5466F
Description is Description is Description is
Description is
Description of nature of transactions with mentioned mentioned mentioned
mentioned alongwith
related party alongwith the alongwith the alongwith the
the relevant lineitem
relevant lineitem relevant lineitem relevant lineitem
Description of nature of related party Non Executive Non Executive Non Executive Non Executive
relationship Directors Directors Directors Directors
Related party transactions [Abstract]
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

380
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(13)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 19 20 22
01/04/2021 01/04/2022 01/04/2021 01/04/2022
to to to to
31/03/2022 31/03/2023 31/03/2022 31/03/2023
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Shri Jalaj Ashwin QRG MEDICARE
Name of related party Dani
Shri U K Sinha Shri U K Sinha
LIMITED
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
related party
Permanent account number of related party AAAPD5466F AHSPS5192A AHSPS5192A AAACQ2238D
Description is Description is Description is
Description is
Description of nature of transactions with mentioned mentioned mentioned
mentioned alongwith
related party alongwith the alongwith the alongwith the
the relevant lineitem
relevant lineitem relevant lineitem relevant lineitem
Enterprises in which
Description of nature of related party Non Executive Non Executive Non Executive
directors are
relationship Directors Directors Directors
interested
Related party transactions [Abstract]
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

381
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(14)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 22 23 24
01/04/2021 01/04/2022 01/04/2021 01/04/2022
to to to to
31/03/2022 31/03/2023 31/03/2022 31/03/2023
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
QRG MEDICARE AARTAS CARE
Name of related party LIMITED
OPG Travels OPG Travels
PRIVATE LIMITED
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
related party
Permanent account number of related party AAACQ2238D AAAFO7594D AAAFO7594D AASCA0404B
CIN of related party U74999DL2019PTC347227
Description is Description is
Description is Description is mentioned
Description of nature of transactions with mentioned mentioned
mentioned alongwith alongwith the relevant
related party alongwith the alongwith the
the relevant lineitem lineitem
relevant lineitem relevant lineitem
Enterprises in Enterprises in Enterprises in which
Description of nature of related party Enterprises in which
which directors are which directors are directors are
relationship directors are interested
interested interested interested
Related party transactions [Abstract]
Other related party transactions expense (A) 1.15 (B) 0.45
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 (C) 0.03 0.01 0
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Footnotes
(A)
Particulars 2022-23

Other Related PartiesOther Related Parties 1.15

(B) Reimbursement of expenses paid: 0.45

(C)
Particulars 2022-23

Amount Payables 0.03

382
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(15)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 24 26 27
01/04/2021 01/04/2022 01/04/2021 01/04/2022
to to to to
31/03/2022 31/03/2023 31/03/2022 31/03/2023
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
AARTAS CARE E a s t e r n
Name of related party PRIVATE LIMITED Distributors
Eastern Distributors Gupta Enterprise

Country of incorporation or residence of

INDIA
related party
Permanent account number of related party AASCA0404B
CIN of related party U74999DL2019PTC347227
Description is Description is
Description is mentioned Description is
Description of nature of transactions with mentioned mentioned
alongwith the relevant mentioned alongwith
related party alongwith the alongwith the
lineitem the relevant lineitem
relevant lineitem relevant lineitem
Enterprises in Enterprises in which Enterprises in
Description of nature of related party Enterprises in which
which directors are directors are which directors are
relationship directors are interested
interested interested interested
Related party transactions [Abstract]
Other related party transactions expense (A) 16.24
Other related party transactions
(B) 19.07 (C) 21.08
contribution made
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 (D) 5.28 4.51 (E) 0.24
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Footnotes
(A) Commission on sales (refer note ( c ) below): 16.24
(B)
Particulars 2022-23

Other Related Parties 19.07

(C)
Particulars 2022-23

Other Related Parties 19.07

Other Related Parties 2.01

(D)
Particulars 2022-23

Amount Payables 5.28

(E)
Particulars 2022-23

Amount Payables 0.24

383
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(16)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 27 28 29
01/04/2021 01/04/2022 01/04/2021 01/04/2022
to to to to
31/03/2022 31/03/2023 31/03/2022 31/03/2023
Disclosure of transactions between related parties
[TextBlock]
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
HKHR Ventures
Name of related party Gupta Enterprise YKG Enterprises YKG Enterprises
LLP
Description is Description is Description is
Description is
Description of nature of transactions with mentioned mentioned mentioned
mentioned alongwith
related party alongwith the alongwith the alongwith the
the relevant lineitem
relevant lineitem relevant lineitem relevant lineitem
Enterprises in which Enterprises in which Enterprises in which Enterprises in which
Description of nature of related party
directors are directors are directors are directors are
relationship interested interested interested interested
Related party transactions [Abstract]
Other related party transactions expense (A) 2.23 (B) 2.95 (C) 38.1
Other related party transactions
(D) 2.95
contribution made
Other related party transactions
0 0 0 0
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0.71 0 0 (E) 3.8
Amounts receivable related party transactions 0 0 0 0
Outstanding commitments made by entity,
0 0 0 0
related party transactions
Outstanding commitments made on behalf
0 0 0 0
of entity, related party transactions
Provisions for doubtful debts related to
outstanding balances of related party 0 0 0 0
transaction
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Footnotes
(A) Commission on sales (refer note ( c ) below): 2.23
(B) Commission on sales (refer note ( c ) below): 2.95
(C)
Particulars 2022-23

Other Related Parties 38.1

(D)
Particulars 2022-23

Other Related Parties 2.95

(E)
Particulars 2022-23

Amount Payables 3.8

384
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of transactions between related parties [Table] ..(17)

Unless otherwise specified, all monetary values are in Crores of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 29 33
01/04/2021 01/04/2022 01/04/2021
to to to
31/03/2022 31/03/2023 31/03/2022
Disclosure of transactions between related parties [TextBlock]
Disclosure of transactions between related parties [Abstract]
Disclosure of transactions between related parties [Line items]
HKHR Ventures OP Gupta and O.P. Gupta &
Name of related party LLP Company Company
Description is Description is
Description is
mentioned mentioned
Description of nature of transactions with related party alongwith the alongwith the
mentioned alongwith
the relevant lineitem
relevant lineitem relevant lineitem
Enterprises in which Enterprises in which Enterprises in which
Description of nature of related party relationship directors are directors are directors are
interested interested interested
Related party transactions [Abstract]
Revenue from sale of goods related party transactions (A) 1.63 (B) 0.77
Other related party transactions expense (C) 31.85
Other related party transactions contribution received 0 0 0
Outstanding balances for related party transactions [Abstract]
Amounts payable related party transactions 8.73 0 (D) 0.03
Amounts receivable related party transactions 0 0 0
Outstanding commitments made by entity, related party
0 0 0
transactions
Outstanding commitments made on behalf of entity, related
0 0 0
party transactions
Provisions for doubtful debts related to outstanding balances
0 0 0
of related party transaction
Expense recognised during period for bad and doubtful debts
0 0 0
for related party transaction

Footnotes
(A) Sale of products : 1.63
(B) Sale of Product
(C) Commission on sales (refer note ( c ) below): 31.85
(D)
Amount payable
Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (64)
Disclosure of related party [TextBlock] [See below]
Whether there are any related party transactions during year Yes Yes
Disclosure of transactions between related parties [TextBlock]
Whether entity applies exemption in Ind AS 24.25 No No
Whether company is subsidiary company No No

385
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (64)

Disclosure of related party [Text Block]

5 Related party transactions

The related parties as per the terms of Ind AS-24,"Related Party Disclosures", under the
section 133 of the Companies Act 2013 (the Act) read with Companies (Indian Accounting
Standards) Rules 2015 (as amended from time to time), as disclosed below:-

(A) Names of related parties and description of relationship :

Related party where control exists

Subsidiary Companies Relationship

Wholly Owned
Subsidiary (WOS),
1 Havells Holdings Limited
(dissolved on
October 27, 2022)

Wholly Owned
2 Havells Guangzhou International Limited
Subsidiary (WOS)

(B) Names of other related parties :

Key Management
(i) Enterprises having significant influence over Group (iv)
Personnel

Shri Anil Rai

Gupta, Chairman
QRG Enterprises Limited
and Managing
Director

Shri Rajesh
Kumar Gupta,
QRG Investment and Holding Limited
Director (Finance)
and Group CFO

Shri Ameet

386
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Kumar Gupta,
Wholetime
Director

Shri Siddhartha
(ii) Enterprises in which directors are having significant influence Pandit, Wholetime
Director

Shri Sanjay
Kumar Gupta,
QRG Foundation
Company
Secretary

Non Executive
Guptajee & Group
Directors

Smt. Pratima
SRF Limited Ram (retired w.e.f
June 30, 2021 )

Shri Puneet
Manipal Health Enterprises Pvt. Ltd
Bhatia

Shri T V
QRG Medicare limited (till November 26, 2021)
Mohandas Pai

Shri Surjit Kumar

Gupta

Shri Jalaj Ashwin

(iii) Employee benefit trust for the benefited employees
Dani

Havells Employees Welfare Trust Shri U K Sinha

Shri B P Rao

Shri S S Mundra

Shri Vivek
Mehra

Smt Namrata
Kaul

Shri Ashish
Bharat Ram
(appointed w.e.f.
May 20, 2021)

Other Related
(v)
Parties

Shri Rakesh
Mehrotra

387
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

- Associate
Director

- HKHR
Ventures LLP
(Partner)

Shri Yogesh
Kumar Gupta

- Associate
Director

- Eastern
Distributors
(Partner)

- Gupta
Enterprise
(Partner)

- YKG
Enterprises
(Partner)

- O.P. Gupta &

Co.(Partner)

- OPG Travels
(Partner)

(Rs. in Crores)

Year ended Year ended

March 31, 2023 March 31, 2022

(C) Transactions during the year

(i) Sale of products (refer note ( c ) below)

Enterprises in which directors are having significant

influence

Manipal Health Enterprises Pvt. Ltd 0.01

-

388
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Other Related Parties

OP Gupta and Company 1.63 0.77

1.63 0.78

(ii) Purchase of goods and stores & spares

SRF Limited 17.87 3.93

17.87 3.93

(iii) Sale of products (refer note ( c ) below) 7.21

-

SRF Limited 7.21

-

(iv) Commission on sales (refer note ( c ) below)

Guptajee and Company 20.65 16.18

Other Related Parties

Eastern Distributors 19.07 16.24

Gupta Enterprise 2.01 2.23

YKG Enterprises 2.95 2.95

HKHR Ventures LLP 38.1 31.85

82.78 69.45

(v) Rent / Usage Charges Paid

Enterprises having significant influence over Group

QRG Enterprises Limited 29.52 27.07

389
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

(vi) Reimbursement of expenses paid

Enterprises having significant influence over Group

QRG Medicare limited 0.02

-

Other Related Parties

OPG Travels 1.15 0.45

1.15 0.47

(vii) CSR Contribution

Enterprises having significant influence over Group

QRG Foundation 9.7 3.63

(viii) Contribution to post employee benefit plan

Havells India Limited Employees Gratuity Trust 8.65 18.25

(ix) Managerial remuneration

Key Management Personnel

Salaries, wages, bonus, commission and other benefits 51.44 53.2

Contribution towards PF, Family Pension and ESI 2.01 1.82

Post-employment benefits 1.15 1

ESPP expense 13.01 15.16

Non-Executive Directors

Director sitting fees 0.9 0.45

Commission 1.8 0.93

390
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Remuneration to other Related Parties

Salaries, wages, bonus, commission and other benefits 3 3

73.31 75.56

(Rs. in Crores)

As at As at

March 31, 2023 March 31, 2022

(D) Balances at the year end

(i) Amount Payables

Enterprises in which directors are interested

Guptajee & Co. 5.26 1.68

SRF Limited 1.39 1.25

Other Related Parties

Eastern Distributors 5.28 4.51

Gupta Enterprise 0.24 0.71

OP Gupta and Co. 0.03

-

HKHR Ventures LLP 3.8 8.73

OPG Travels 0.03 0.01

16 16.92

391
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

a)The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions.
Outstanding balances at the year-end are unsecured and interest free. The settlement for these balances occurs through
payment. There have been no guarantees provided or received for any related party receivables or payables. For the year
ended March 31, 2023, the Group has not recorded any impairment of receivables relating to amounts owed by related
parties (March 31, 2022: Rs Nil) .This assessment is undertaken each financial year through examining the financial position
of the related party and the market in which the related party operates.

b)As at March 31, 2023 , the Group has not granted any loans to the promoters, directors, KMPs and the related parties (as
defined under Companies Act, 2013), either severally or jointly with any other person (March 31, 2022: Nil),

c)Transactions with related parties are reported gross of Goods and Service Tax.

[611700] Notes - Other provisions, contingent liabilities and contingent assets

Disclosure of other provisions [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Classes of other provisions [Axis] Warranty provision [Member]
01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Disclosure of other provisions [TextBlock]
Disclosure of other provisions [Abstract]
Disclosure of other provisions [Line items]
Reconciliation of changes in other provisions [Abstract]
Changes in other provisions [Abstract]
Other increase decrease in other provisions 28.75
Total changes in other provisions 0 28.75
Other provisions at end of period 313.55 313.55 284.8
Product warranties and Product warranties and
Description of other provisions, others E-waste Refer note 18(a) E-waste Refer note 18(a)

Disclosure of contingent liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Contingent liability on disputed sales
Classes of contingent liabilities [Axis] Other contingent liabilities [Member]
tax [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of contingent liabilities [TextBlock]
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [Line items]
Demands raised by Demands raised by
Description of nature of obligation, contingent Refer to child Refer to child
Sales tax / VAT Sales tax / VAT
liabilities member member
department . department .
Estimated financial effect of contingent
54.71 74.88 1.87 18.35
liabilities

Disclosure of contingent liabilities [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Contingent liability on disputed income Contingent liability on disputed excise
Classes of contingent liabilities [Axis]
tax [Member] demands [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of contingent liabilities [TextBlock]
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [Line items]
Disallowances / Disallowances /
Demands raised by Demands raised by
Description of nature of obligation, contingent additions made by additions made by the
Excise and Custom Excise and Custom
liabilities the income tax i n c o m e tax
department. department.
department. department.
Estimated financial effect of contingent
35.17 38.78 16.32 16.34
liabilities

392
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Disclosure of contingent liabilities [Table] ..(3)

Unless otherwise specified, all monetary values are in Crores of INR
Contingent liability on disputed service Other contingent liabilities, others
Classes of contingent liabilities [Axis]
tax demands [Member] [Member]
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of contingent liabilities [TextBlock]
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [Line items]
Demand of local
Demand of local area
area development
development tax by
tax by the
the concerned
concerned
authorities, Demand
Description of nature of obligation, contingent Demands raised by Demands raised by authorities, Demand
of octroi along with
liabilities GST Department GST Department of octroi along with
penalty in the state of
penalty in the state
Maharashtra by the
of Maharashtra by
concerned
the concerned
authorities.
authorities.
Estimated financial effect of contingent
1.23 1.26 (A) 0.12 (B) 0.15
liabilities

Footnotes
(A) Demand of local area development tax by the concerned authorities. : 0.12 Demand of octroi along with penalty in the state of
Maharashtra by the concerned authorities. : 0.03
(B) Demand of local area development tax by the concerned authorities. : 0.12 Demand of octroi along with penalty in the state of
Maharashtra by the concerned authorities. : 0.03
Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of other provisions, contingent liabilities and contingent assets Textual information (65)
[TextBlock] [See below]
Disclosure of other provisions [TextBlock]
Disclosure of contingent liabilities [TextBlock]
Whether there are any contingent liabilities Yes Yes
Textual information (66) Textual information (67)
Description of other contingent liabilities others [See below] [See below]

393
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (65)

Disclosure of other provisions, contingent liabilities and contingent assets [Text Block]

30A COMMITMENTS AND CONTINGENCIES

(Rs. in
Crores)

As At As At

March March
31,2023 31,2022

A Contingent liabilities (to the extent not provided for)

a Claims / Suits filed against the Group not acknowledged as debts ( Refer point (i)) 6.83 7.07

b Disputed tax liabilities in respect of pending litigations before appellate authorities 54.71 74.88

Amount deposited under protest Rs 13.04 crores (March 31, 2022: Rs. 29.13 crores, included in
"Deposit with Statutory and Government authorities" in note no. 7) refer point (ii)

Notes:

i)Claims / suits filed against the Group not acknowledged as debts which represents various legal cases filed against the
Group. The Group has disclaimed the liability and defending the action. The Group has been advised by its legal counsel that
its position is likely to be upheld in the litigation process and accordingly no provision for any liability has been made in the
financial statement.

ii)The various disputed tax litigations are as under :

(Rs. in
Crores)

Disputed
Disputed amount
amount

Period to which
Period to which relates As At As At
relates

March
Sl. Description refer note below March 31,2023
31,2022

394
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

a) Excise / Customs / Service Tax

2007-08 to
2007-08 to 2009-10, 2009-10,
Demands raised by Excise and Custom
2015-16 to 2017-18 16.32 2015-16 to 16.34
department.
and 2019-20 2017-18 and
2019-20

b) Income Tax*

Disallowances / additions made by the 2005-06,

2005-06, 2008-09 35.17 38.78
income tax department. 2009-10

to to

2014-15,
2014-15, 2016-17 to
2016-17,2018-19
2017-18 and 2019-20
and 2019-20

c) Goods and Service Tax

Demands raised by GST Department 2017-18 1.23 2017-18 1.26

and and

2019-20 2019-20

d) Sales Tax / VAT

Demands raised by Sales tax / VAT

2003-04 1.87 2005-06 18.35
department .

to to

2016-17 2016-17

e) Others

Demand of local area development tax

2001-02 0.12 2001-02 0.12
by the concerned authorities.

Demand of octroi along with penalty in

the state of Maharashtra by the 2010-11 2010-11 0.03
-
concerned authorities.

54.71 74.88

395
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Notes:

The above figures are net off provisions made by the Group. The Group is contesting these demands and the management,
believe that its position will likely to be upheld in the appellate process. The management believes that the ultimate outcome
of this proceeding will not have a material adverse effect on the Group's financial position and results of operations.

*Based on favourable decisions in similar cases, the Group does not expect any liability against these matters in accordance
with principles of Ind AS -12 'Income taxes' read with Ind AS -37 ;Provisions, Contingent Liabilities and Contingent Assets'
and hence no provision has been considered in the books of accounts except for provision created in respect of few years
refer note 18(ii).

The above amounts contain interest and penalty where included in the order issued by the department to the Company

(Rs. in
Crores)

As At As At

March March
31,2023 31,2022

B Commitments

Estimated amount of capital contracts remaining to be executed and not provided for (Net of
476.73 59.27
Advances amounting to Rs 52.52 crores (March 31, 2022: Rs 7.45 crores))

476.73 59.27

C.Undrawn committed borrowing facility

a)During the Year, the Group has availed fund and non fund based unsecured working capital limit amounting to Rs. 1382.50
Crores under multiple banking arrangements from IDBI Bank Limited, Yes Bank Limited, Standard Chartered Bank Limited,
HSBC Bank, ICICI Bank Limited, IndusInd Bank Limited, HDFC Bank Limited, DBS Bank Limited and CITI Bank N.A. An
amount of Rs NIL remain undrawn as at Mach 31, 2023.

D.Other Litigations

The Group has some sales tax and other tax related litigation of Rs 6.70 crores (March 31, 2022: Rs. 7.28 crores) against
which liability has been assessed as probable and adequate provisions have been made with respect to the same.

E.The Group has outstanding obligation amounting to Rs. 0.51 crores (March 31, 2022: Rs. 0.52 crores) in respect of bonds
given to central tax department against import of goods at concessional rate of basic custom duty. The Group expects to fulfil
the obligation in due course of time.

F.The Group has export obligation of Rs. 158.68 crores (March 31, 2022: Rs. 34.95 crores) on account of import duty
exemption of Rs. 8.72 crores (March 31, 2022: Rs.1.50 crore) on capital goods under the Export Promotion Capital Goods
(EPCG) and Rs. 0.15 crores Advance Authorisation scheme laid down by the Government of India. The Group expects to
fulfil the obligation in due course of time.

396
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (66)

Description of other contingent liabilities others

Claims / suits filed against the Group not acknowledged as debts which represents various legal cases filed against the
Group. The Group has disclaimed the liability and defending the action. The Group has been advised by its legal counsel that
its position is likely to be upheld in the litigation process and accordingly no provision for any liability has been made in the
financial statement.

Textual information (67)

Description of other contingent liabilities others

Claims / suits filed against the Group not acknowledged as debts which represents various legal cases filed against the
Group. The Group has disclaimed the liability and defending the action. The Group has been advised by its legal counsel that
its position is likely to be upheld in the litigation process and accordingly no provision for any liability has been made in the
financial statement.

[610500] Notes - Events after reporting period

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of events after reporting period [TextBlock]
Disclosure of non-adjusting events after reporting period [TextBlock]
Whether there are non adjusting events after reporting period No No

397
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[612500] Notes - Share-based payment arrangements

Disclosure of terms and conditions of share-based payment arrangement [Table] ..(1)

Unless otherwise specified, all monetary values are in Crores of INR
Types of share-based payment arrangements [Axis] 1 2
01/04/2022 01/04/2021 01/04/2022 01/04/2021
to to to to
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of terms and conditions of share-based
payment arrangement [TextBlock]
Disclosure of terms and conditions of share-based
payment arrangement [Abstract]
Disclosure of terms and conditions of
share-based payment arrangement [Line items]
Textual information Textual information Textual information Textual information
Description of share-based payment arrangement (68) [See below] (69) [See below] (70) [See below] (71) [See below]
Settled by way of Settled by way of Settled by way of Settled by way of
Description of method of settlement for
issue of equity issue of equity issue of equity issue of equity
share-based payment arrangement shares. shares. shares. shares.
Date of grant of share-based payment
03/06/2022 05/06/2021 03/06/2022 05/06/2021
arrangement
Number of instruments granted in
[pure] 41,817 [pure] 68,356 [pure] 1,50,000 [pure] 2,10,000
share-based payment arrangement

Disclosure of terms and conditions of share-based payment arrangement [Table] ..(2)

Unless otherwise specified, all monetary values are in Crores of INR
Types of share-based payment arrangements [Axis] 3 4
01/04/2022 01/04/2021 01/04/2022
to to to
31/03/2023 31/03/2022 31/03/2023
Disclosure of terms and conditions of share-based payment arrangement
[TextBlock]
Disclosure of terms and conditions of share-based payment arrangement
[Abstract]
Disclosure of terms and conditions of share-based payment
arrangement [Line items]
Textual information Textual information Textual information
Description of share-based payment arrangement (72) [See below] (73) [See below] (74) [See below]
Settled by way of Settled by way of
Description of method of settlement for share-based payment Settled by way of
issue of equity issue of equity
arrangement issue of equity shares.
shares. shares.
Date of grant of share-based payment arrangement 03/06/2022 05/06/2021 03/06/2022
Number of instruments granted in share-based payment
[pure] 24,942 [pure] 8,454 [pure] 17,733
arrangement

Disclosure of number and weighted average remaining contractual life of outstanding share options [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Ranges of exercise prices for outstanding share options [Axis] 1 2
31/03/2023 31/03/2022 31/03/2023 31/03/2022
Disclosure of number and weighted average
remaining contractual life of outstanding share
options [TextBlock]
Disclosure of number and weighted average
remaining contractual life of outstanding
share options [Abstract]
Disclosure of number and weighted average
remaining contractual life of outstanding share
options [Line items]
Number of share options outstanding in share
[pure] 16,011 [pure] 5,636 [pure] 18,680 [pure] 4,387
based payment arrangement
Weighted average remaining contractual life
[pure] 4 [pure] 2 [pure] 2 [pure] 1
of outstanding share options

398
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Unless otherwise specified, all monetary values are in Crores of INR

01/04/2022 01/04/2021
to to 31/03/2021
31/03/2023 31/03/2022
Textual information (75)
Disclosure of share-based payment arrangements [TextBlock] [See below]
Whether there are any share based payment arrangement Yes Yes
Disclosure of terms and conditions of share-based payment arrangement
[TextBlock]
Disclosure of terms and conditions of share-based payment arrangement
[Abstract]
Disclosure of terms and conditions of share-based payment
arrangement [Line items]
Description of share-based payment arrangement
Description of method of settlement for share-based payment
arrangement
Date of grant of share-based payment arrangement
Number of instruments granted in share-based payment
arrangement
Disclosure of number and weighted average exercise prices of share options
[TextBlock]
Number of share options outstanding in share based payment arrangement
[Abstract]
Number of share options granted in share-based payment arrangement [pure] 2,34,492 [pure] 2,86,810
Number of share options forfeited in share-based payment arrangement [pure] 0 [pure] 0
Number of share options exercised in share-based payment arrangement [pure] -2,06,671 [pure] -2,90,061
Number of share options expired in share-based payment arrangement [pure] -3,153 [pure] 0
Total changes of number of share options outstanding in share based
[pure] 24,668 [pure] -3,251
payment arrangement
Number of share options outstanding in share-based payment
[pure] 34,691 [pure] 10,023 [pure] 13,274
arrangement at end of period
Disclosure of number and weighted average remaining contractual life
of outstanding share options [TextBlock]
Disclosure of number and weighted average remaining contractual
life of outstanding share options [Abstract]
Disclosure of number and weighted average remaining
contractual life of outstanding share options [Line items]
Number of share options outstanding in share based payment
arrangement
Weighted average remaining contractual life of outstanding share
options

Textual information (68)

Description of share-based payment arrangement

Havells Employee Long Term Incentive Plan 2014 : In accordance with this scheme, 41,817 (March 31, 2022 : 68,356) share options of Re. 1
each were granted, out of which 41,415 (March 31, 2022: 68,356) share options of Re. 1 each were vested and allotted on June 03, 2022
(March 31, 2022 : June 05, 2021 ) to eligible employees at Rs 1,289.85 (March 31, 2022: Rs. 1,074.10) per share as contributed by these
employees . As per the scheme, 50% of the shares are under lock in period of 13 months and balance 50% for 2 years. Also as per the
scheme, the Group is obliged to pay 50% of the contribution made by eligible employees as retention bonus over a period of two years in
equal instalments. Accordingly, a sum of Rs 2.23 crores (March 31, 2022 : Rs. 2.94 crores ) has been recognised as employee stock purchase
plan expense (refer note 26).

Textual information (69)

Description of share-based payment arrangement

Havells Employee Long Term Incentive Plan 2014 : In accordance with this scheme, 68,356 (March 31, 2021 : 110,949) share options of Rs.
1 each were granted, out of which 68,356 (March 31, 2021: 109,259) share options of Rs. 1 each were vested and allotted on June 05, 2021
(March 31, 2021 : April 14, 2020 ) to eligible employees at Rs 1,074.10 (March 31, 2021: Rs. 467.35) per share as contributed by these
employees . As per the scheme, 50% of the shares are under lock in period of 13 months and balance 50% for 2 years. Also as per the
scheme, the Group is obliged to pay 50% of the contribution made by eligible employees as retention bonus over a period of two years in
equal instalments. Accordingly, a sum of Rs 2.94 crores (March 31, 2021 : Rs. 2.88 crores ) has been recognised as employee stock purchase
plan expense in note 26.

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (70)

Description of share-based payment arrangement

Havells Employee Stock Purchase Plan 2015 : In accordance with this scheme, 150,000 (March 31, 2022: 210,000) share options of Re. 1
each were granted, vested and allotted on June 03,2022 ( March 31, 2022: June 05, 2021) at Rs 1,289.85 ( March 31, 2022: Rs. 1,074.10) per
share to eligible employees as contributed by the Group. As per the scheme, 78% of the shares are under lock in period of 13 months and
remaining 22% are under lock in period for 2 years. Accordingly, a sum of Rs. 19.35 crores (March 2022 :Rs. 22.56 crores ) has been
recognised as employee stock purchase plan expenses (refer note 26).

Textual information (71)

Description of share-based payment arrangement

Havells Employee Stock Purchase Plan 2015 : In accordance with this scheme, 210,000 (March 31, 2021: 90,000) share options of Rs. 1 each
were granted, vested and allotted on June 05,2021 (March 31, 2021: April 14, 2020) at Rs 1,074.10 (March 31, 2021: Rs. 467.35) per share to
eligible employees as contributed by the Group. As per the scheme, 78% of the shares are under lock in period of 13 months and remaining
22% are under lock in period for 2 years. Accordingly, a sum of Rs. 22.56 crores (March 2021 :Rs. 4.21 crores ) has been recognised as
employee stock purchase plan expenses in note 26.

Textual information (72)

Description of share-based payment arrangement

Havells Employee Stock Purchase Plan 2016 : In accordance with the said scheme, 24,942 (March 31, 2022: 8,454) share options of Re. 1
each were granted to eligible employees with graded vesting in three years starting from 2022. During the year, 13534 equity shares of Re. 1
each (March 31, 2022 : 11705 equity shares) were allotted at Rs. 1,289.85 (March 31, 2022 : Rs.1,074.10) per share on June 03, 2022.
Accordingly, a sum of Rs.2.69 crores (March 31,2021: 1.26 crores) has been recognised as employee stock purchase plan expense refer note
26 and balance outstanding of Rs. 1.48 crores (March 31, 2022 : 0.53 crores) refer note 13.'

Textual information (73)

Description of share-based payment arrangement

Havells Employee Stock Purchase Plan 2016 : In accordance with the said scheme, 8,454 (March 31, 2021: 13,157) share options of Rs. 1
each were granted to eligible employees with graded vesting in three years starting from 2021. During the year, 11705 equity shares of Rs. 1
each (March 31, 2021 : 10913 equity shares) were allotted at Rs. 1,074.10 (March 31, 2021 : Rs.467.5) per share on June 05, 2021.
Accordingly, a sum of Rs.1.26 crores (March 31,2021: 0.50 crores) has been recognised as employee stock purchase plan expense in note 26
and balance outstanding of Rs. 0.53 crores (March 31, 2021 : 0.64 crores) in note 13.'

Textual information (74)

Description of share-based payment arrangement

Havells Employee Stock Purchase Plan 2022 : In accordance with the said scheme, 17,733 (March 31, 2022: NIL) share options of Re. 1
each were granted to eligible employees with graded vesting in three years starting from 2022. During the year, 1722 equity shares of Re. 1
each (March 31, 2022 : NIL equity shares) were allotted at Rs. 1,348.55 (March 31, 2022 : NIL) per share on Nov 03, 2022. Accordingly, a
sum of Rs.1.06 crores (March 31,2021: NIL) has been recognised as employee stock purchase plan expense refer note 26 and balance
outstanding of Rs. 0.82 crores (March 31, 2022 : NIL) refer note 13.'

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (75)

Disclosure of share-based payment arrangements [Text Block]

6.Share based payments

The Group has in place following employee stock purchase plan approved by shareholders of the Group in compliance with
Securities and Exchange Board of India (Share Based Employee Benefits) regulations, 2021 :

(a)Havells Employee Long Term Incentive Plan 2014 : In accordance with this scheme, 41,817 (March 31, 2022 : 68,356)
share options of Re. 1 each were granted, out of which 41,415 (March 31, 2022: 68,356) share options of Re. 1 each were
vested and allotted on June 03, 2022 (March 31, 2022 : June 05, 2021 ) to eligible employees at Rs 1,289.85 (March 31,
2022: Rs. 1,074.10) per share as contributed by these employees . As per the scheme, 50% of the shares are under lock in
period of 13 months and balance 50% for 2 years. Also as per the scheme, the Group is obliged to pay 50% of the
contribution made by eligible employees as retention bonus over a period of two years in equal instalments. Accordingly, a
sum of Rs 2.23 crores (March 31, 2022 : Rs. 2.94 crores ) has been recognised as employee stock purchase plan expense
(refer note 26).

(b)Havells Employee Stock Purchase Plan 2015 : In accordance with this scheme, 150,000 (March 31, 2022: 210,000) share
options of Re. 1 each were granted, vested and allotted on June 03,2022 ( March 31, 2022: June 05, 2021) at Rs 1,289.85 (
March 31, 2022: Rs. 1,074.10) per share to eligible employees as contributed by the Group. As per the scheme, 78% of the
shares are under lock in period of 13 months and remaining 22% are under lock in period for 2 years. Accordingly, a sum of
Rs. 19.35 crores (March 2022 :Rs. 22.56 crores ) has been recognised as employee stock purchase plan expenses (refer
note 26).

(c)Havells Employee Stock Purchase Plan 2016 : In accordance with the said scheme, 24,942 (March 31, 2022: 8,454) share
options of Re. 1 each were granted to eligible employees with graded vesting in three years starting from 2022. During the
year, 13534 equity shares of Re. 1 each (March 31, 2022 : 11705 equity shares) were allotted at Rs. 1,289.85 (March 31,
2022 : Rs.1,074.10) per share on June 03, 2022. Accordingly, a sum of Rs.2.69 crores (March 31,2021: 1.26 crores) has
been recognised as employee stock purchase plan expense refer note 26 and balance outstanding of Rs. 1.48 crores
(March 31, 2022 : 0.53 crores) refer note 13.'

(d)Havells Employee Stock Purchase Plan 2022 : In accordance with the said scheme, 17,733 (March 31, 2022: NIL) share
options of Re. 1 each were granted to eligible employees with graded vesting in three years starting from 2022. During the
year, 1722 equity shares of Re. 1 each (March 31, 2022 : NIL equity shares) were allotted at Rs. 1,348.55 (March 31, 2022 :
NIL) per share on Nov 03, 2022. Accordingly, a sum of Rs.1.06 crores (March 31,2021: NIL) has been recognised as
employee stock purchase plan expense refer note 26 and balance outstanding of Rs. 0.82 crores (March 31, 2022 : NIL)
refer note 13.'

Set out below is a

summary of
options granted
(i)
and vested during
the year under the
plan

2022-23 2021-22

Weighted
average
Number Weighted average
Summary of Stock exercise Number of Stock
of Stock exercise price per share
Options price per Options
Options option
share
option

Options

401
HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

outstanding at the 10,023 13,274

beginning of the - -
year

Options granted
2,34,492 1,290.34 2,86,810 1,074.10
during the year

Options vested
and exercised -2,06,671 1,290.34 -2,90,061 1,074.10
during the year

Options lapsed
-3,153
during the year - - -

Options
outstanding at the 34,691 10,023
- -
end of the year

The weighted
average share
price at the date of
exercise of
options exercised
during the year
ended March 31,
2023 was Rs
1290.34 per share
( March 31, 2022 :
Rs 1074.10) per
share. For share
options
outstanding at the
end of the year,
exercise price
ranges from
763.50 to
1348.55.

Share options
outstanding at the
end of the year
(ii)
have the following
expiry dates and
exercise prices:

March
Particulars March 31, 2022
31, 2023

ESPP
ESPP Scheme ESPP 2016 ESPP 2016 ESPP 2016
2022

Oct 03,

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Grant date 2022 May 05, 2022 May 22, 2021 March 31, 2020

2023-24
Expiry date to 2023-24 and 2024-25 2022-23 and 2023-24 2022-23
2026-27

Outstanding share
16011 18680 5636 4387
options

Weighted average
remaining
contractual life of
4 years 2 year 2 years 1 year
options
outstanding at the
end of the year

The fair value at grant date of options granted during the year ended March 31, 2023 was within range of Rs. 1271.53 to Rs.
1348.16 per share (March 31, 2022 was within range of Rs. 1059.27 to Rs. 1073.90 per share). The fair value at the grant
date is determined using Black Scholes valuation model which takes into account the exercise price , the terms of the options
, the share price at grant date and expected price volatility of the underlying shares , the expected dividend yield and the risk
free interest rate for the term of the option.

(iii) The Model inputs for options granted ( ESPP 2016) :

March
(a) Particulars 31, March 31,2022
2023

10.10%
Expected Price volatility of the Group's share to 10.69% - 14.16%
15.29%

Expected Dividend Yield 0.70% 0.68%

Rs
Share price at the grant date Rs 1074.10
1289.85

Risk free interest rate 7.15% 6.20%

The Model inputs for options granted ( ESPP 2022) :

March
(b) Particulars 31, March 31,2022
2023

7.78%

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Expected Price volatility of the Group's share to -

15.30%

Expected Dividend Yield 0.70%

-

Rs
Share price at the grant date
1348.55 -

Risk free interest rate 7.41%

-

The expected price volatility is based on the historical volatility (based on

(iv) remaining life of the options), adjusted for any expected change to future volatility
due to publically available information.

(v) Expense arising from shared based payment transactions

March
Particulars 31, March 31,2022
2023

Havells Employees Long Term Incentive Plan 2014 2.23 2.94

Havells Employees Stock Purchase Plan 2015 19.35 22.56

Havells Employees Stock Purchase Plan 2016 2.69 1.26

Havells Employees Stock Purchase Plan 2022 1.06

-

Total expense recognised in the statement of profit and loss account as a part of
25.33 26.76
employee benefit expense:

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[613000] Notes - Earnings per share

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Textual information (76)
Disclosure of earnings per share [TextBlock] [See below]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from continuing operations [INR/shares] 17.11 [INR/shares] 19.11
Total basic earnings (loss) per share [INR/shares] 17.11 [INR/shares] 19.11
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from continuing operations [INR/shares] 17.11 [INR/shares] 19.11
Total diluted earnings (loss) per share [INR/shares] 17.11 [INR/shares] 19.11
Profit (loss), attributable to ordinary equity holders of parent entity
[Abstract]
Profit (loss) from continuing operations attributable to ordinary
1,071.73 1,196.47
equity holders of parent entity
Profit (loss), attributable to ordinary equity holders of parent entity 0 0
Profit (loss) from continuing operations attributable to
ordinary equity holders of parent entity including dilutive 1,071.73 1,196.47
effects
Profit (loss), attributable to ordinary equity holders of parent
0 0
entity including dilutive effects
Weighted average shares and adjusted weighted average shares [Abstract]
Weighted average number of ordinary shares outstanding [shares] 62,65,33,502 [shares] 62,62,61,228

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

Textual information (76)

Disclosure of earnings per share [Text Block]

11 Earnings per share Year ended Year ended

March 31, March 31,

2023 2022

a) Basic Earnings per share

Numerator for earnings per share

(Rs in
Profit after taxation 1071.73 1196.47
crores)

Denominator for earnings per share

Weighted average number of equity shares outstanding during the year (Numbers) 62,64,88,642 62,62,50,618

Earnings per share-Basic (one equity share of Re. 1/- each) Rs. 17.11 19.11

b) Diluted Earnings per share

Numerator for earnings per share

(Rs in
Profit after taxation 1071.73 1196.47
crores)

Denominator for earnings per share

Weighted average number of equity shares for basic earning per share (Numbers) 62,64,88,642 62,62,50,618

Effect of dilution

Weighted average number of Share options (Numbers) 44,860 10,610

Weighted average number of equity shares outstanding during the year

(Numbers) 62,65,33,502 62,62,61,228
adjusted for the effect of dilution

Earnings per share- Diluted (one equity share of Re. 1/- each) Rs. 17.11 19.1

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HAVELLS INDIA LIMITED Consolidated Financial Statements for period 01/04/2022 to 31/03/2023

[610900] Notes - First time adoption

Unless otherwise specified, all monetary values are in Crores of INR
01/04/2022 01/04/2021
to to
31/03/2023 31/03/2022
Disclosure of first-time adoption [TextBlock]
Whether company has adopted Ind AS first time No No

407