24

Balance Sheet
as at 31st March, 2023
(All amounts in ` lakhs, unless otherwise stated)

As at As at
Particulars Note 31st March, 2023 31st March, 2022
ASSETS
Non-current assets
Property, plant and equipment 3 11,791.98 8,625.53
Capital work-in-progress 3 319.20 3,498.38
Financial assets
Investment in Associate 4A 0.24 0.24
Loans 5 279.81 244.78
Other financial assets 11 434.34 471.06
Non-current tax assets (net) 31D 1,827.09 1,723.62
Deferred tax assets (net) 31C 569.96 429.01
Other non-current assets 6 288.48 293.72
Total - Non-current assets (A) 15,511.10 15,286.34
Current assets
Inventories 7 11,547.23 13,162.46
Financial assets
Investments 4B - -
Trade receivables 8 27,919.77 34,967.51
Cash and cash equivalents 9 1,974.35 4,306.11
Bank balances other than cash and cash equivalents mentioned above 10 - 401.63
Loans 5 37.51 42.18
Other financial assets 11 3,241.69 4,183.94
Other current assets 12 5,387.50 4,259.80
Total - Current assets (B) 50,108.05 61,323.63
TOTAL ASSETS (A) + (B) 65,619.15 76,609.97
EQUITY AND LIABILITIES
Equity
Equity share capital 13A 297.50 297.50
Other equity 13B 31,794.81 25,893.56
Total - Equity (A) 32,092.31 26,191.06
Liabilities
Non-current liabilities
Financial liabilities
Borrowings 14 - 22,215.00
Lease liabilities 15 1,065.44 1,318.70
Other financial liabilities 16 1,651.89 2,002.77
Provisions 18 1,404.94 1,472.81
Non-current tax liabilities (net) 31D 13.60 176.13
Total - Non-current liabilities (B) 4,135.87 27,185.41
Current liabilities
Financial liabilities
Borrowings 14 8,487.17 -
Lease liabilities 15 505.29 468.93
Trade payables 17
Total outstanding dues of micro enterprises and small enterprises 214.95 202.18
Total outstanding dues of creditors other than micro enterprises and 18,108.13 20,192.61
small enterprises
Other financial liabilities 16 1,468.87 1,393.39
Provisions 18 42.91 56.83
Other current liabilities 19 563.65 919.56
Total - Current liabilities (C) 29,390.97 23,233.50
TOTAL EQUITY AND LIABILITIES (A) + (B) + (C) 65,619.15 76,609.97
Basis of preparation, measurement and significant accounting policies 2
Contingent Liabilities and commitments 20, 21

The accompanying notes 1 to 49 are an integral part of these financial statements

As per our report of even date attached For and on behalf of Board of Directors of Unilever India Exports Limited
UNILEVER INDIA EXPORTS LIMITED

CIN: U51900MH1963PLC012667
For B S R & Co. LLP
Chartered Accountants
Firm’s Registration No. 101248W/ W - 100022

Aniruddha Godbole Asha Gopalakrishnan Ravishankar A.

Partner Director Director
Membership No. 105149 [DIN: 08383915] [DIN: 09136289]

Mumbai: 24th April, 2023 Mumbai: 24th April, 2023 Mumbai: 24th April, 2023

SUBSIDIARY
 Statutory Financial
25
Reports Statements

Statement of Profit and Loss

for the year ended 31st March, 2023
(All amounts in ` lakhs, unless otherwise stated)

Year ended Year ended

Particulars Note 31st March, 2023 31st March, 2022

INCOME
Revenue from operations 22 1,30,503.34 1,30,413.01
Other income 23 114.67 1,335.81
Total Income 1,30,618.01 1,31,748.82
EXPENSES
Cost of materials consumed 24 35,295.30 33,397.63
Purchases of stock-in-trade 25 56,889.52 60,393.86
Changes in inventories of finished goods (including stock-in-trade) and 26 (517.58) (198.50)
work-in-progress
Employee benefits expense 27 5,032.15 4,774.00
Finance costs 28 1,358.45 832.21
Depreciation expense 29 2,116.86 1,590.71
Other expenses 30A 14,603.98 13,336.70
Total Expenses 1,14,778.68 1,14,126.61
Profit before exceptional items and tax 15,839.33 17,622.21
Exceptional items 30B - (114.06)
Profit before tax 15,839.33 17,508.15
Tax expenses
Current tax charge 31A (4,069.53) (4,191.32)
Deferred tax credit/(charge) 31A 140.95 (545.17)
Profit for the Year (A) 11,910.75 12,771.66
Other Comprehensive Income - -
Other Comprehensive Income for the Year (B) - -
Total Comprehensive Income for the Year (A+B) 11,910.75 12,771.66
Earnings per equity share
Basic and Diluted (Face value of `10 each) 32 400.36 429.30
Basis of preparation, measurement and significant accounting policies 2

The accompanying notes 1 to 49 are an integral part of these financial statements

As per our report of even date attached For and on behalf of Board of Directors of Unilever India Exports Limited
CIN: U51900MH1963PLC012667
For B S R & Co. LLP
Chartered Accountants
Firm’s Registration No. 101248W/ W - 100022

Aniruddha Godbole Asha Gopalakrishnan Ravishankar A.

Partner Director Director
Membership No. 105149 [DIN: 08383915] [DIN: 09136289]

Mumbai: 24th April, 2023 Mumbai: 24th April, 2023 Mumbai: 24th April, 2023
UNILEVER INDIA EXPORTS LIMITED

SUBSIDIARY
 Statutory Financial
27
Reports Statements

Statement of Cash Flows

for the year ended 31st March, 2023
(All amounts in ` lakhs, unless otherwise stated)

Year ended Year ended

Particulars 31st March, 2023 31st March, 2022

A CASH FLOWS FROM OPERATING ACTIVITIES:

Profit before tax 15,839.33 17,508.15
Adjustments for:
Restructuring costs - 114.06
Provision/(Write back) of inventory 474.37 244.25
Write back of Provision for doubtful receivables during the year (228.20) (1,225.00)
Provision for doubtful exports benefits receivable - 6.08
(Reversal) of indirect tax and other provisions (net) (81.79) -
Depreciation expense 2,116.86 1,590.71
Fair value loss/(gain) on investments 0.24 (0.62)
Unrealised (gain)/loss on foreign currency fluctuation (net) (105.28) (200.33)
Net gain on sale of Investments (106.02) (47.50)
(Profit)/Loss on sale of property, plant and equipment - (13.01)
Interest income (8.89) (15.00)
Interest expense 1,274.03 696.36
Unwinding of discount on employee and ex-employee related liabilities 84.42 135.85
Allowance for credit impairment 792.86 137.64
Cash flows Generated from Operations before working capital changes 20,051.93 18,931.64
Changes in Working capital:
Decrease in Non-Current Assets 19.08 779.22
Decrease/(Increase) in Current Assets 6,472.91 (10,815.01)
Decrease in Inventories 1,140.86 45.00
(Decrease)/Increase in Non-Current Liabilities (491.36) 151.09
(Decrease) in Current Liabilities (2,384.56) (2,252.92)
Cash generated from Operations 24,808.86 6,839.02
Taxes paid (net of refunds) (4,335.53) (4,331.74)
Net cash flows generated from operating activities - [A] 20,473.33 2,507.28
B CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment (1,459.15) (2,737.68)
Sale of property, plant and equipment - 5.38
Purchase of investments (4,829.76) (18,289.06)
Sale proceeds of investments 4,935.52 18,937.18
Redemption/(Investments) in bank deposits 401.63 (401.87)
Interest received 8.89 15.00
Net cash flows used in from investing activities - [B] (942.87) (2,471.05)

UNILEVER INDIA EXPORTS LIMITED

SUBSIDIARY
28

Statement of Cash Flows

for the year ended 31st March, 2023
(All amounts in ` lakhs, unless otherwise stated)

Year ended Year ended

Particulars 31st March, 2023 31st March, 2022

C CASH FLOWS FROM FINANCING ACTIVITIES:

Borrowings received 63,530.00 45,290.00
Borrowings repaid (77,245.00) (32,575.00)
Interest paid (1,254.32) (367.28)
Dividends paid (6,009.50) (10,025.75)
Principal repayment of leases (740.86) (742.25)
Interest payment on leases (142.54) (148.93)
Net cash flows (used in)/generated from financing activities - [C] (21,862.22) 1,430.79
Net decrease/(increase) in cash and cash equivalents - [A+B+C] (2,331.76) 1,467.02
Add: Cash and cash equivalents at the beginning of the year 4,306.11 2,839.09
Cash and cash equivalents at the end of the year (Refer Note 9) 1,974.35 4,306.11

Note:

In addition to the above, there are no non cash movements for liabilities arising from financing activities except
interest accrued.

The above Statement of Cash Flows has been prepared under the ‘Indirect Method’ as set out in Ind AS 7, ‘Statement
of Cash Flows’.

The accompanying notes 1 to 49 are an integral part of these financial statements

As per our report of even date attached For and on behalf of Board of Directors of Unilever India Exports Limited
CIN: U51900MH1963PLC012667
For B S R & Co. LLP
Chartered Accountants
Firm’s Registration No. 101248W/ W - 100022

Aniruddha Godbole Asha Gopalakrishnan Ravishankar A.

Partner Director Director
Membership No. 105149 [DIN: 08383915] [DIN: 09136289]

Mumbai: 24th April, 2023 Mumbai: 24th April, 2023 Mumbai: 24th April, 2023
UNILEVER INDIA EXPORTS LIMITED

SUBSIDIARY