 

Particulars Nine months Fiscal 2020 Fiscal 2019 Fiscal 2018

ended December
31, 2020
inz % int % in® % in? %
million million million million
Cost of materials 4,387.28 42.60 5,717.04 38.09 7,104.88 38.79 5,916.88 38.85

consumed

 

Change in inventories of finished goods

Our change in inventories of finished goods and work-in-progress indicate the difference between our opening
and closing inventory of, finished goods and work-in-progress.

Excise duty on sale of goods

We paid excise duty of % 324.44 million on the sale of our goods for Fiscal 2018, which accounted for 2.13% of
our total income. We were not required to pay any excise duty for Fiscals 2020 and 2019 and the nine months
ended December 31, 2020 as goods and service tax has been implemented from July 1, 2017.

Employee benefits expense

Employee benefits expense primarily comprise salary and wages, contributions to provident fund and employee
state insurance, contribution to gratuity fund, payment to contractors and staff welfare expenses.

The following table sets out the employee benefit expense as a percentage of our total income for the periods
indicated:

 

Particulars Nine months ended Fiscal 2020 Fiscal 2019 Fiscal 2018
December 31, 2020
in @ million % ing % ing % int %
million million million
Employee benefits expense 1,105.91 10.74 1,709.86 11.39 2,168.31 11.84 1,986.29 13.04

 

Other expenses

Our other expenses accounted for 18.53%, 22.43%, 24.84% and 26.99% of our total income for the nine months
ended December 31, 2020 and Fiscals 2020, 2019 and 2018, respectively.

Other expenses primarily comprised manufacturing expenses (which consisted of expenses in relation to stores,
spares and tool consumed, power and fuel, repairs and maintenance towards machinery, building, and others),
administrative expenses (which primarily consisted of professional and consultancy charges, rent, travelling
expenses, managerial remuneration, insurance charges, expenses in relation to software licenses, and others), and
selling expenses (which comprised packing material consumed, carriage outwards, and sales promotion expenses).

EBITDA

Our EBITDA was % 2,946.39 million, = 4,065.51 million, = 4,566.80 million and 2 3,051.81 million for the nine
months ended December 31, 2020 and Fiscals 2020, 2019 and 2018, respectively.

Our EBITDA came to 28.81%, 27.24%, 25.12% and 20.19%, as a percentage of revenue from operations, for the
nine months ended December 31, 2020 and Fiscals 2020, 2019 and 2018, respectively.

Depreciation and amortization expense

Our depreciation and amortization expense accounted for 13.74%, 12.99%, 9.62% and 9.79% of our total income
for the nine months ended December 31, 2020 and Fiscals 2020, 2019 and 2018, respectively.

Depreciation and amortization expense comprises depreciation on property, plant and equipment, amortization of
intangible assets (software and development expenditure) and amortization of right-of-use-assets.

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