The net effect of the above mentioned restatement adjustment in the ‘other equity’, 'right-of-use asset’ and ‘lease
liabilities’ balance as at March 31, 2019, have not been considered in the respective opening balances as at April
1, 2019. Hence, the opening balance of ‘other equity’, 'right-of-use’ and ‘lease liabilities' as at April 1, 2019 in
these Restated Financial Information are as per the audited standalone financials statements as at and for year
ended March 31, 2019. For further information, see “Restated Financial Information — Note 41: Restatement
adjustments” on page 259.

NON-GAAP MEASURES

EBITDA and others below, (together, “Non-GAAP Measures”), presented in this Prospectus is a supplemental
measure of our performance and liquidity that is not required by, or presented in accordance with, Ind AS, Indian
GAAP, IFRS or US GAAP. Further, these Non-GAAP Measures are not a measurement of our financial
performance or liquidity under Ind AS, Indian GAAP, IFRS or US GAAP and should not be considered in
isolation or construed as an alternative to cash flows, profit/ (loss) for the years/ period or any other measure of
financial performance or as an indicator of our operating performance, liquidity, profitability or cash flows
generated by operating, investing or financing activities derived in accordance with Ind AS, Indian GAAP, IFRS.
or US GAAP. In addition, these Non-GAAP Measures are not standardised terms, hence a direct comparison of
these Non-GAAP Measures between companies may not be possible. Other companies may calculate these Non-
GAAP Measures differently from us, limiting its usefulness as a comparative measure. Although such Non-GAAP
Measures are not a measure of performance calculated in accordance with applicable accounting standards, our
Company’s management believes that they are useful to an investor in evaluating us as they are widely used
measures to evaluate a company’s operating performance.

Reconciliation of EBITDA and EBITDA Margin to Restated (Loss) / Profit after Tax

The table below reconciles restated (loss) / profit for the year to EBITDA. EBITDA is calculated as profit/loss for
the year/ period, plus total tax expenses, exceptional items, finance costs and depreciation and amortization
expenses, less other income, while EBITDA Margin is the percentage of EBITDA divided by revenue from
operations.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Particulars Fiscal ‘Three Months ended
June 30,
2019 2020 2021 2020 2021
@ million)

Restated (loss) / profit after tax (1) 309.41 | 526.34 | (35.39) (85.98) |__ (189.96)
‘Add: Total Tax Expense (11) 112.73 [156.52 4.04 (159.18) 6.22
‘Add: Exceptional Items (III) = = < -
‘Add: Finance Costs (IV) 113.78 | 164.72 | 205.69 51.57 57.05,
‘Add: Depreciation and Amortisation expense (V) 321.28 | 465.72 | 604.99 145.90 160.47
Less: Other Income (VI) 57.32 [48.25 [315.84 104.39 92.96
Earnings before interest, taxes, depreciation and | 799.88 | 1,265.05 | 463.49 (152.08) (69.18)
amortization expenses (EBITDA) VII = I + II
+II+IV+V-VI
Revenue from operations (VIII) 2,852.47 | 3,920.14 | 2,506.68 103.05 309.96
EBITDA Margin (VII/VII1) 28.04% | 32.27% | 18.49% | (147.58%) | (19.09%)

 

Reconciliation of Capital Employed and Return on Capital Employed (pre-tax) to Total Assets

The table below reconciles capital employed to total assets. Capital employed is calculated as total assets less
current liabilities, plus borrowings under current liabilities, current maturities of long-term debts and lease
liabilities under current liabilities, while ROCE is calculated as EBIT divided by capital employed.

 

 

 

 

 

Particulars Fiscal Three Months ended June
30,
2019 2020 [| 2021 2020 2021
@anillion)
Total Assets (I) 4,041.31 | 5,191.86 | 5,483.67 5,346.99, 5,306.47
Current Liabilities (excludes borrowings and lease 326.88 354.94

liabilities) (11) 212.22 | 218.8 | 309.83

 

 

 

 

 

 

 

 

 

 

Current Liabilities - Borrowings (IID) 82.81 27.9 | 104.39 14.16 0.03
Current Maturities of Long-Term Debts (IV) = = > =
Current Liabilities - Lease liabilities (V) 15.43 | 273.66 | 45.86 621.03 637.21

 

310
