MAHINDCIE2020-04-012020-06-30in-bse-fin:OneOperatingExpenses01Member MAHINDCIE2020-04-012020-06-30in-bse-fin:FourOperatingExpenses01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares MAHINDCIE 2020-01-01 2020-12-31 2020-06-30 INR Millions Half yearly Single segment Automotive 2020-04-01 2020-06-30 Unaudited Standalone 1885867000.00 44329000.00 1930196000.00 810331000.00 0.00 95456000.00 779908000.00 20324000.00 190313000.00 653568000.00 2549900000.00 -619704000.00 0.00 -619704000.00 0.00 -152498000.00 -152498000.00 0.00 -467206000.00 0.00 0.00 0.00 0.00 -467206000.00 0.00 -467206000.00 0.00 0.00 3790107000.00 10 -1.23 -1.23 0.00 0.00 -1.23 -1.23 Extract : n n2.In September 2018, the Board of Directors of Mahindra CIE Automotive Limited decided to dispose off the forging business in the United Kingdom, corresponding to the company Stokes Group Limited. Due to that decision, the Company has discontinued the operations of Stokes Group Limited, classifying them as a disposal group, and reclassifying the profit and loss account of the Company to results from discontinued operations in its consolidated result. n4.The management, based on a detailed technical assessment of its plant and machinery, has changed the depreciation method for certain assets from straight line to unit of production method to better reflect the pattern of consumption and also align the method with the depreciation method used by the holding company of the Group. The change has been made effective January 1, 2020. nAs a result of this change, the depreciation charge for the six months ended June 30, 2020 is lower by Rs. 141 million and Rs. 357 million in the standalone and consolidated unaudited results respectively. Impact of the change in the standalone and consolidated unaudited results for the quarter ended March 31, 2020 is not material. Impact of this change on the subsequent periods would depend on the actual usage of these assets n5.Pursuant to review of the facts and circumstances of the operations of subsidiary, Bill Forge Mexico S.A. de. C.V. (BFM), the management has changed the functional currency from Peso to USD effective January 1, 2020 in accordance with the requirements of Ind AS 21 -The Effects of Changes in Foreign Exchange Rates. nDue to this change, previously recognised foreign currency loss of Rs. 418 million for the quarter ended March 31, 2020, arising mainly from restatement of the loan in USD taken by the subsidiary from a CIE Automotive Group company, has been reversed and March 31, 2020 have accordingly been revised. nThis incentive is in the form of refund from the Government of Maharashtra on actual VAT/SGST paid by the company from the period February 1, 2016 to March 31, 2023 (7 Years) with a maximum limit of Rs. 2,522 million n8.During the year 2019, Bill Forge Private Limited was amalgamated with the Company with an appointed date of April 1, 2018 under a Scheme of Amalgamation approved by the Hon'ble NCLT Mumbai vide order dated November 4, 2019 and effective date November 15, 2019 (being the date of filing of the Order with Registrar of Companies). Hence, the impact of amalgamation in the financial results was taken from the appointed date as per the approved scheme of merger i.e. April 1, 2018. nThe Company acquired 100% equity shares of Aurangabad Electricals Limited (AEL) on April 9, 2019. Hence, the consolidated numbers for the six months ended June 30, 2019 includes amounts of AEL from April 9, 2019. Accordingly, the consolidated numbers for the six months ended June 30, 2020 are not comparable to the six months ended June 30, 2019. n 10 The spread of COVID 19 has severely impacted businesses in many countries, including India and there has been severe disruption to regular business operations due to lockdown and other emergency measures. The Company has made assessment of liquidity, recoverable values of its financial and non-financial assets including carrying value of its subsidiaries and has concluded that there are no material adjustments required in the interim financial results. nHowever the impact assessment of COVID-19 is a continuous process, given the uncertainties associated with its nature and duration. The impact of global health pandemic might be different from that estimated as at the date of approval of these financial results. The Company will continue to closely monitor any material changes to future economic conditions. Single segment 2020-01-01 2020-06-30 Unaudited Standalone 7672056000.00 122170000.00 7794226000.00 3630804000.00 0.00 -115152000.00 1743062000.00 44858000.00 473173000.00 2194906000.00 7971651000.00 -177425000.00 0.00 -177425000.00 57916000.00 -92324000.00 -34408000.00 0.00 -143017000.00 0.00 0.00 0.00 0.00 -143017000.00 0.00 -143017000.00 0.00 0.00 3790107000.00 10 -0.38 -0.38 0.00 0.00 -0.38 -0.38 Other expenses 653568000.00 Other expenses 2194906000.00