1 249,448,986 equity shares (249,322,865 equity shares as at 31st
 March, 2011) of Rs. 10/- each fully paid up are held by holding company -
 Torrent Private Limited.
 
 2 Terms/ Rights attached to equity shares :
 
 The Company has only one class of equity shares having par value of Rs.
 10 per share. Each holder of equity shares is entitled to one vote per
 share. The Company declares and pays dividends 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.  Dividend
 amount per share recognized as distributions to equity shareholders is
 Rs. 6.50 per equity share during the year ended 31st March, 2012
 (Previous year Rs. 5.50 per equity share).
 
 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 preferential amounts. The distribution will be in
 proportion to the number of equity shares held by the shareholders.
 
                                                    (Rs. in crores)
 
                                                As at      As at
                                      31st March, 2012  31st March, 2011
 
 3. Contingent liabilities not 
 provided for in respect of:
 
 (i) Letters of credit established 
 and guarantees given by banks on
 behalf of the Company                      121.08        60.46
 
 (ii) Disputed income-tax matters            21.04        23.45
 
 (iii) Disputed sales-tax matters             0.02         0.21
 
 (iv) Disputed custom duty matters            0.44         0.44
 
 (v) Disputed stamp duty matters              0.37         0.26
 
 4.  Accounting policy concerning depreciation in respect of assets of
 Ahmedabad Generation, Ahmedabad Distribution and Surat Distribution has
 been changed during the year from higher of rates as per Appendix III
 of CERC Regulation 2009 or rates prescribed under Schedule XIV to the
 Companies Act 1956 to rates applicable in the year of addition as per
 CERC Tariff Regulations in context of circular no. 51/23/2011-CL-III
 dated 31st May, 2011issued by Ministry of Corporate Affairs with effect
 from 1st April, 2011. Depreciation for the year is lower by Rs. 60.12
 crores and profit for the year is higher by Rs. 60.12 crores on account
 of such changes.
 
 5.  The Company has given loans and advances to its subsidiary
 companies and associate company as under
 
 (a) Other than above, the Company has not given any loans or advances
 in the nature of loan to any of its subsidiaries and associates or
 firms / companies, in which Directors are interested.
 
 (b) There are no loans where either repayment schedule is not
 prescribed or repayment is scheduled beyond seven years. Loans given to
 above companies are interest free.
 
 6. (i) The Company uses forward contracts to hedge its certain risk
 associated with foreign currency fluctuation relating to firm
 commitments. The Company does not use forward contracts for speculative
 purposes.  Outstanding foreign exchange contract as at 31st March, 2012
 is Rs. Nil (Previous year Rs. 7.68 crores).
 
 7.  Based on the information available with the Company, the balance
 due to Micro and Small Enterprises as defined under MSMED Act, 2006 is
 Rs. 2.73 crores (Previous year Rs. 1.49 crores). Interest paid or payable
 under MSMED Act, 2006 during the year is Rs. 0.03 crores (Previous year Rs.
 Nil).
 
 8.  Assets taken on lease under which all risks and rewards of
 ownership are effectively retained by the lessor are classified as
 operating lease. Lease payments under operating leases are recognised
 as expenses on straight-line basis.
 
 The Company''s significant leasing arrangements are in respect of
 residential flats, office premises, plant and machinery and equipments
 taken on lease. The arrangements range between 11 months and 10 years
 generally and are usually renewable by mutual consent on mutually
 agreeable terms. Under these arrangements, generally refundable
 interest free deposits have been given. The Company has not entered
 into any material financial lease.  The Company does not have any
 non-cancellable lease.
 
 9. Employee benefits
 
 The accounting liability on account of gratuity and leave is accounted
 as per AS 15 (revised) dealing with Employee benefits.
 
 The Company operates a defined benefit plan (the Gratuity Plan)
 covering eligible employees, which provides a lump sum payment to
 vested employees at retirement, death, incapacitation or termination of
 employment, of an amount based on the respective employee''s salary and
 tenure of employment.
 
 10.  The Company''s primary business segment is Generation and
 Distribution of Electricity. Based on the guiding principles given in
 Accounting Standard on Segment Reporting (AS-17), this activity falls
 within a single primary business segment and accordingly the disclosure
 requirements of AS-17 in this regard are not applicable.
 
 11.  Capitalization of exchange differences
 
 The Ministry of Corporate Affairs (MCA) has issued the amendment dated
 29th December 2011 to AS 11 The Effects of Changes in Foreign Exchange
 Rates, to allow companies deferral / capitalization of exchange
 differences arising on long-term foreign currency monetary items.
 
 In accordance with the amendment to AS 11, the company has capitalized
 exchange loss, arising on long-term foreign currency loan, amounting to
 Rs. 23.07 crores (Previous year Rs. Nil) to the cost of Capital work in
 progress / plant and equipments.
 
 12. Previous year figures
 
 The Company prepares and presents its financial statements as per
 Schedule VI to the Companies Act, 1956, as applicable to it from time
 to time. In view of revision to the Schedule VI as per a notification
 issued during the year by the Central Government, the financial
 statements for the financial year ended 31st March, 2012 have been
 prepared as per the requirements of the Revised Schedule VI to the
 Companies Act, 1956. The previous year figures have been accordingly
 regrouped / re-classified to conform to the current year''s
 classification. Figures are rounded off to nearest lakh. Figures below
 Rs. 50000 are denoted by.