Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
CORPORATE INFORMATION
DIRECTORS
REGISTERED OFFICE
R. A. Shah
S. S. Kelkar
CORPORATE OFFICE:
S. Ragothaman
A. K. Hirjee
S. M. Palia
Ishaat Hussain
Ness N. Wadia
Sheela Bhide
Jehangir N. Wadia, Managing Director
Puspamitra Das
AUDITORS
Messrs. Kalyaniwalla & Mistry
Contents
Corporate Information ..............................................................
01
Notice ........................................................................................
02
13
14
Directors Report.........................................................................
15
36
39
56
60
64
101
104
108
143
Notice
NOTICE
THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED
(CIN : L17120MH1879PLC000037)
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6L]PSSL0V\ZL260LYLKPH5HYN
Ballard Estate, Mumbai 400001.
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+?HKPH1U[LYUH[PVUHS+LU[LY
Pandurang Budhkar Marg,
Worli, Mumbai 400025.
Email: grievance_redressal_cell@bombaydyeing.com
Website: www.bombaydyeing.com
Phone: (91) (22) 66620000; Fax: (91) (22) 66193262
Notice is hereby given that the 136th Annual General Meeting of the
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will be held at the Yashwantrao Chavan Center Auditorium, General
Jagannathrao Bhonsle Marg, Nariman Point, Mumbai 400 021, on
Wednesday, 10th August, 2016, at 3.45 p.m. to transact the following
business:
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1.
b.
2.
3.
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Resolution:
RESOLVED THAT pursuant to the provisions of Sections 139, 142
and other applicable provisions, if any, of the Companies Act,
2013, M/s. Kalyaniwalla & Mistry, Chartered Accountants, Mumbai,
(ICAI Registration No. 104607W), be and are hereby appointed
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conclusion of this Annual General Meeting till the conclusion of
the next Annual General Meeting, on such remuneration as shall
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plus applicable service tax and reimbursement of travelling and
out of pocket expenses incurred by them for the purpose of audit.
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Resolution:
RESOLVED THAT pursuant to the provisions of Section 148
and all other applicable provisions of the Companies Act, 2013
(the Act) read with rule 14(a)(ii) of the Companies (Audit and
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:-;74>-,.=:<0-:<0)<^OLYLPUHU`UHUJPHS`LHYJVTWYPZLK
in the period of any three years, during the currency of tenure of
5 years of Mr. Jehangir N. Wadia as Managing Director, the
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shall pay Mr. Jehangir N. Wadia remuneration as determined from
time to time by the Board pursuant to the authority vested in
them in terms of this Resolution, subject to compliance with the
applicable provisions of Schedule-V to the Act, with the approval
of the Central Government, if and to the extent necessary AND
THAT such remuneration shall be treated as the minimum
remuneration payable to Mr. Jehangir N. Wadia in the absence
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Sections 196, 197, 198, 203 and other applicable provisions of the
Companies Act, 2013 and the rules made thereunder (including
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Schedule-V to the Act.
RESOLVED FURTHER THAT any one of the Directors of the Company
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be and are hereby severally authorized to do all necessary acts,
deeds, matters and things as may be considered necessary and
desirable to give effect to this Resolution.
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RESOLVED THAT in supersession of the earlier resolution passed
at the 134th Annual General Meeting of the members of the
Company held on 8th August, 2014, the consent of the Company be
and is hereby accorded under the provisions of Section 180(1)(c)
of the Companies Act, 2013, to the Board of Directors of the
Company (hereinafter referred to as the Board which term shall
be deemed to include any Committee thereof) to borrow from time
to time such sum or sums of money as they may deem necessary
for the purpose of the business of the Company, notwithstanding
that the monies to be borrowed together with the monies already
borrowed by the Company (apart from cash credit arrangement,
discounting of bills and other temporary loans obtained from
Companys bankers in the ordinary course of business) and
remaining outstanding at any point of time will exceed the
aggregate of the paid-up share capital of the Company and its
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purpose; Provided that the total amount up to which monies may
be borrowed by the Board of Directors and which shall remain
outstanding at any given point of time shall not exceed the sum
of `JYVYL:\WLLZYLLV\ZHUKJYVYLHWHY[MYVTJHZO
credit arrangement, discounting of bills and other temporary
loans obtained from Companys bankers in the ordinary course of
business.
RESOLVED FURTHER THAT the Board be and is hereby authorised
to take all such steps as may be necessary, proper and expedient
to give effect to this Resolution.
<VJVUZPKLYHUKPM[OV\NO[[[VWHZZ^P[OVY^P[OV\[TVKPJH[PVU
the following resolution as a Special Resolution:
RESOLVED THAT in supersession of the earlier resolution passed
at the 134th Annual General Meeting of the Company held on
8th August, 2014, the consent of the Company be and is hereby
accorded in terms of Section 180(1)(a) and other applicable
provisions, if any, of the Companies Act, 2013, to the Board of
Notice
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a.
b.
c.
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Company will be closed from Friday, 29th July, 2016 to Wednesday,
10th August, 2016 both days inclusive.
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f.
Date of
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of Dividend
Last date
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unpaid
dividend
2008-09
28.08.2009
27.08.2016
03.11.2016
2009-10
11.08.2010
10.08.2017
17.10.2017
2010-11
04.08.2011
03.08.2018
10.10.2018
2011-12
07.08.2012
06.08.2019
13.10.2019
2012-13
06.08.2013
05.08.2020
09.10.2020
2013-14
08.08.2014
07.08.2021
11.10.2021
2014-15
06.08.2015
05.08.2022
09.10.2022
(i)
i.
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LWYLZJYPILKMVYTJHUILVI[HPULKMYVT[OL+VTWHU`pZ7MJL
at C-1, Wadia International Center (Bombay Dyeing), Pandurang
Budhkar Marg, Worli, Mumbai - 400025 or from its R&TA at their
aforesaid address.
j.
(vi) If you are holding shares in demat form and had logged on to
www.evotingindia.com and voted on an earlier voting of any
company, then your existing password is to be used.
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For Members holding shares in Demat Form
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PAN
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for attending the Meeting.
m.
n.
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P L ]V[PUN WLYPVK ILNPUZ VU th August, 2016 at 9.00 a.m.
and ends on 9th August, 2016 at 5.00 p.m. During this period
shareholders of the Company, holding shares either in physical
form or in dematerialized form, as on the cut-off date of
3rd)\N\Z[TH`JHZ[[OLPY]V[LLSLJ[YVUPJHSS`LL]V[PUN
module shall be disabled by CDSL for voting thereafter.
Dividend Bank
Details OR
Date of Birth
(DOB)
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you choose to vote.
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b.
c.
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(xiii) Click on the RESOLUTIONS FILE LINK if you wish to view the
entire Resolution details.
(xiv) After selecting the resolution you have decided to vote on, click on
SUBMIT.
Notice
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vote, click on OK, else to change your vote, click on CANCEL and
accordingly modify your vote.
o.
(xv) Once you CONFIRM your vote on the resolution, you will not be
allowed to modify your vote.
(xvi) You can also take out print of the voting done by you by clicking on
Click here to print option on the Voting page.
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from the conclusion of the e-voting period unblock the votes in
(xvii) If demat account holder has forgotten the login password then
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Forgot Password & enter the details as prompted by the system.
(xviii) Shareholders can also cast their vote using CDSLs mobile app
T>V[PUNH]HPSHISLMVYHUKYVPKIHZLKTVIPSLZLT>V[PUNHWW
can be downloaded from Google Play Store. Apple and Windows
phone users can download the app from the App Store and the
Windows Phone Store respectively on or after 30th June, 2016.
Please follow the instructions as prompted by the mobile app
while voting on your mobile.
Mr. P. N. Parikh (FCS 327), and failing him, Ms. Jigyasa Ved
s
s
s
s
s
r.
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the Company will be made available on the Companys website at
www.bombaydyeing.com.
By Order of the Board of Directors,
FOR THE BOMBAY DYEING & MFG. CO. LTD.
(xx) In case you have any queries or issues regarding e-voting, you
may refer the Frequently Asked Questions (FAQs) and e-voting
manual available at www.evotingindia.com, under help section or
write an email to helpdesk.evoting@cdslindia.com.
Puspamitra Das
+OPLM.PUHUJPHS7MJLY
Mumbai, 27th May, 2016
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Item 5
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Committee have approved the appointment M/s. N. I. Mehta & Co.,
Cost Accountants, Mumbai, (ICWA Registration No. 000023) as Cost
Auditors at a remuneration of ` 5,00,000/- (Rupees Five Lakh only)
plus applicable service tax and reimbursement of travelling and out
of pocket expenses incurred by them for the purpose of audit for the
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their eligibility for appointment as Cost Auditors will be available for
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1.00 P.M and shall also be available at the meeting.
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the Notice for approval by the shareholders.
Item 6
Mr. Jehangir N. Wadia (hereinafter referred to as Mr. Wadia) was
appointed as the Managing Director (MD) of the Company by the
Board for a period of 5 years with effect from 1st April, 2011. His term as
MD of the Company expired on 31st March, 2016.
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limits as laid down under provisions of Sections 196, 197, 198, 203
and other applicable provisions of the Companies Act, 2013 and
[OLY\SLZTHKL[OLYL\UKLYPUJS\KPUNHU`Z[H[\[VY`TVKPJH[PVU
or re-enactment thereof) read with Schedule-V of the Companies
Act, 2013, and shall be subject to the approval of the Central
Government, if and to the extent necessary.
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fund, if any, which shall not exceed 27% of the remuneration
or such higher percentage as permissible under Rule 87 of the
Income Tax Rules, 1962, and gratuity, if any, payable at a rate
not exceeding half a months salary for each completed year of
service and encashment of leave at the end of the tenure as per
the rules/policies of the Company, which shall not be included in
the computation of the ceilings on remuneration.
Mr. Wadia will serve the Company as Managing Director for a term
of 5 years with effect from 1st April, 2016.
2.
Mr. Wadia shall carry out such functions, exercise such powers and
perform such duties as the Board shall, from time to time, in their
absolute discretion determine and entrust to him.
3.
Mr. Wadia shall devote his whole time and attention to the
business of the Company, exert his best endeavours to promote
its interests and welfare and attend his place of employment at
all proper times.
4.
(i)
Notice
Mr. Wadia shall not be paid any sitting fees for attending Meetings
of the Board or of any Committee thereof.
8.
9.
Mr. Wadia shall not, except in the proper course of his duties during
the continuance of his employment with the Company or any time
thereafter divulge or disclose to any persons whomsoever or make
use whatsoever for his own purpose or for any purpose of any
information or knowledge obtained by him during his employment
as to the business and/or affairs of the Company and/or trade
secrets or secret processes of the Company.
L,PYLJ[VYZJVUZPKLY[OLHMVYLZHPKYLT\ULYH[PVUJVTTLUZ\YH[L
with the duties and responsibilities of Mr. Wadia.
Approval of the members is being sought by way of special
resolution for payment of minimum remuneration in excess of the
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to the Act for any period of 3 years during his tenure of 5 years
of appointment, and necessary application will be made to the
Central Government for approval of such payment.
10. Mr. Wadia shall not in the event of his ceasing to be MD of the
Company before the expiry of the term of 5 years, for the remainder
of such period:
(a) either alone or jointly with or as an employee of any person,
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any activities or business which shall be in competition with
the business of the Company; and
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Mr. Wadia is available for inspection by the members at the
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1.00 p.m. on any working day except Saturdays, Sundays and
public holidays upto the date of the Annual General Meeting.
Mr. Jehangir N. Wadia, Mr. Nusli N. Wadia and Mr. Ness N. Wadia,
who are related to each other, are concerned or interested in
the Resolution at Item 6 as it relates to the appointment and
remuneration of Mr. Jehangir N. Wadia, as Managing Director.
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Agreement between the Company and Mr. Jehangir N. Wadia,
when executed, and memorandum of interest pursuant to
Section 190 of the Act.
Mr. Jehangir N. Wadia being Managing Director would not be
liable to retire by rotation in terms of the Articles of Association
of the Company.
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I.
GENERAL INFORMATION
1
2
Nature of Industry
Date or expected date of commencement of commercial
Production
In case of new companies, expected date of commencement
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appearing in the prospectus
Financial performance based on given indicators
5
II.
Manufacturing
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Not Applicable
2015-16
2014-15
2013-14
Total Revenue
1983.72
2566.75
2822.68
8YV[4VZZ)M[LY<H_
(85.24)
24.56
24.34
Nil
5.
2.
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(in case of expatriates the relevant details would be w.r.t. the
country of his origin):
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benchmarked with the remuneration being drawn by similar
positions in Manufacturing Industry and has been considered
by the Nomination and Remuneration Committee (NRC) of
the Company at their meeting held on 31st March, 2016, for
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7.
8.
Past remuneration :
FINANCIAL YEAR
Remuneration proposed:
Please refer to paragraph 5 of the material terms of
appointment summarized above.
Background details :
Mr. Jehangir N. Wadia, 43, is a Master in Science from the
Warwick University in Coventry, UK. He is the co-author
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MVY [OL NYV\W L PU]LZ[TLU[Z JVUJS\KLK YHUNLK MYVT H
Venture Fund for technology companies to Ports, Clinical
research, Education, Real Estate and Aviation. At present he
is Managing Director of the Company and Go Airlines (India)
Ltd. (a low cost Airline in India). He is also a Director on the
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Trading Corp. Ltd, Wadia TechnoEngineering Services
Limited & others. He is also a member of Stakeholder
Relationship Committee of the Company and Britannia
Industries Limited.
Particulars
2013-14
AMOUNT EXCLUDING
RETIRAL BENEFITS (in `)
4,72,33,607/-
2014-15
5,06,55,098/-
)
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6,53,78,855/-
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s
s
3.
Recognition or awards:
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Leader in the year 2008.
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Over and above what is mentioned in background details
in item II (1) above, Mr. Wadia is a part of the Senior
Management and Key Managerial Personnel, responsible
for the operations and affairs of the Company. Taking into
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the Board of Directors.
Notice
10
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IHZLTLU[ MVY JHY WHYR PZ OHZ YLZ\S[LK PU YLK\J[PVU
in 115 apartments compared to earlier design which
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s
s
Textiles Division
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THYRL[LJH[LNVY`ZH^]VS\TLHZ^LSSHZ]HS\LWYLZZ\YL
SLKI`^LHRKLTHUKHUKPU\_VMJOLHWLYHS[LYUH[P]LZMYVT
\UVYNHUPZLKZLJ[VYHUKPU[LYUH[PVUHSTHYRL[ZL,P]PZPVUpZ
gross revenue for 2015-16 was ` 306 crore as against
` 407 crore in the previous year.
PSF Division
*
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On an ongoing basis, the Company continues to take steps
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HYLZVTLVM[OLZWLJPJTLHZ\YLZ[HRLUI`P[[VJVU[YVSJVZ[Z
and improve its competitive position and performance of the
Company:
Organisation structure for support services within the
organization has been revised to reduce overhead cost.
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particularly in the areas of IT, Finance, HR, and same are
being implemented.
Optimize the capacity utilization of the manufacturing unit
at Patalganga (PSF).
Outsource of manufacturing of Textiles to reduce cost.
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main contractors for construction of One ICC and Two ICC at
a contracted amount of over ` 1200 crores.
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the Retail Domestic Sales (RDS) business to improve
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strength of the Bombay Dyeing Brand.
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s
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s
s
s
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LFS channel through SIS model
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transportation cost
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sourcing and enrichment of product and sales mix
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WYVK\J[P]P[`HUKLMJPLUJ`VMZV\YJPUNHUKZ\WWS`
chain
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our Brand Image has been recognized during
2013-14 as under:
CNBC Textile Conclave 2013 Award Best Domestic
Retail Brand - Made Ups & Home Textile
WORLD BRAND CONGRESS Global Brand
Excellence Awards Brand Revitalisation Award
8;.,P]PZPVU"
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with higher percentage of value added specialty products
SPRLISHJRVW[PJHS^OP[LTPJYVHUK[YPSVIHSIYLZ[VPTWYV]L
sales realization and margins.
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PSF plant instead of gas to reduce energy cost.
Steps are being taken to reduce other energy and power cost
to help improve margin.
Considerable improvement has been achieved in waste
reduction. Waste YTD was 1.94 %, against previous year
2.08%.
L8;.,P]PZPVUJVU[PU\LZ[VKYP]LJVZ[YLK\J[PVUTLHZ\YLZ
in the area of production such as substituting usage of
material, reduction in process wastages, lower consumption
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cost reduction over a period of time.
+
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already started showing some impact and the full impact
of these measures would be realized from the year 2016-17
onwards.
11
1[LT6VZHUK "
L5LTILYZVM[OL+VTWHU`H[[OLth Annual General Meeting of
the Company held on 8th August, 2014, had accorded by way of a Special
Resolution, their approval to the Board of Directors of the Company
and/or a Committee thereof for borrowing monies on behalf of the
Company, from time to time, upto an aggregate amount (apart from
temporary loans obtained from the Companys bankers in the ordinary
course of business) upto ` 2,000 Crores. As per Section 180(1)(c) of
the Companies Act, 2013, borrowings (apart from temporary loans
obtained from the Companys bankers in ordinary course of business)
by the Company beyond the aggregate of the paid up capital of the
company and its free reserve. To meet the fund requirements of the
company, the Company may require to borrow from time to time by
way of loans and/or issue of Bonds, Debentures or other securities and
the existing approved limit may likely to be exhausted in near future
and it is therefore recommended to enhance the borrowing limits of
the Company upto `+YVYL:\WLLZYLLV\ZHUK+YVYL7US`
requires approval from the shareholders of the Company by way of a
Special Resolution given at Item No. 7 of the Notice.
L IVYYV^PUNZVM [OL +VTWHU`TH` PM ULJLZZHY` IL ZLJ\YLK I` ^H`
of charge/mortgage/pledge/hypothecation on the Companys assets
comprising of the movable and/or immovable, tangible/intangible
properties of the Company, present or future, in favour of the lender(s)/
agent(s)/trustee(s) from time to time, in such form, manner and ranking
HZTLU[PVULKPU[OL:LZVS\[PVUH[1[LT6V LKVJ\TLU[ZYLSH[PUN[V
charge and/or mortgage and/or pledge and/or hypothecation in favour
of the lender(s)/agent(s)/trustee(s) may contain the provisions to take
over substantial assets of the Company in certain events with a power to
take over the management of the business and concern of the Company,
which may be regarded as disposal of the Companys undertaking(s)
within the meaning of Section 180(1)(a) of the Companies Act, 2013.
As per Section 180(1)(a) of the Companies Act, 2013, the Board
of Directors of the Company shall exercise the power to sell, lease
or otherwise dispose of the whole or substantially whole of the
undertaking of the Company, only with the consent of the Company by
a Special Resolution.
L:LZVS\[PVU\UKLY1[LT6V PZ[OLYLMVYLWYVWVZLK[VILWHZZLK[V
seek consent of shareholders for creation of charge/mortgage/pledge/
hypothecation to secure borrowings subject to the limits approved
under Section 180(1)(a) of the Companies Act, 2013 and temporary
loans obtained from the Companys Bankers in the ordinary course of
business.
None of the Directors and the Key Managerial Personnel of the Company,
including their relatives, is in any way, concerned or interested,
UHUJPHSS`VYV[OLY^PZLPU[OLZHPKYLZVS\[PVUZ
Notice
12
L*VHYKVM,PYLJ[VYZYLJVTTLUKZ[OLZWLJPHSYLZVS\[PVUZZL[V\[H[
Items 7 and 8 of the Notice for approval by the shareholders.
By Order of the Board of Directors,
FOR THE BOMBAY DYEING & MFG. CO. LTD.
Mumbai, 27th5H`
Puspamitra Das
+OPLM.PUHUJPHS7MJLY
:LNPZ[LYLK7MJL"
Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai 400001.
(CIN : L17120MH1879PLC000037)
Email: grievance_redressal_cell@bombaydyeing.com,
Website: www.bombaydyeing.com
Phone: (91) (22) 66620000, Fax: (91) (22) 66193262
6HTLVMV[OLYJVTWHUPLZPU^OPJOOLOVSKZKPYLJ[VYZOPWZ
+VTTP[[LL5LTILYZOPW"
2.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
13
FINANCIAL PERFORMANCE
25
14-15
15-16
24
13-14
12-13
15-16
14-15
13-14
12-13
11-12
15-16
14-15
13-14
12-13
11-12
11-12
231
59
309
1984
284
335
317
2567
2823
2502
76
EBITDA
` in crores
TOTAL REVENUE
` in crores
2403
PAT
` in crores
-85
0.80
0.80
1.00
5.00
0.50
16.58%
TEXTILE
BOMBAY REALITY
PSF
15-16
14-15
13-14
12-13
11-12
( ` in crores)
57.93%
306
470
1069
25.48%
14
2007-08
(` in crore)
2006-07
38.61
331.81
38.61
11.89
357.30
38.61
364.07
210.35
54.49
1775.11
4.64:1
370.42
95.96
1710.88
1.28:1
407.80
102.57
1415.76
1.39:1
402.68
104.32
1052.40
1.70
1.35:1
1386.66
292.81
1093.85
1581.80
1391.83
231.26
1160.57
824.89
1378.60
178.72
1199.88
881.42
1364.25
123.67
1240.58
582.98
1390.11
512.86
877.25
579.53
2402.63
2014.11
1732.04
1417.77
1013.95
536.16
2341.53
62.03
97.81
22.11
2266.39
61.39
74.85
15.50
1925.66
62.08
26.37
5.26
1650.31 1555.64
59.54
55.73
22.19 (193.60)
3.77
-
960.52
35.42
18.01
1.75
478.29
17.46
40.41
4.43
24.34
75.70
59.35
(0.28)
21.39
18.42
1.02
(194.62)
(1.70)
1.28
16.68
(0.90)
0.95
35.93
1.19
1.18
3.67
2.92
5.54
4.77
(50.39)
4.32
9.31
19.89
40
19.33
40
24.16
50
24.02
50
16.49
35
11.26
25
4.52
10
15.82
35
22.59
50
2014-15
2013-14
2012-13
2011-12
2010-11
41.31
1270.81
41.31
1530.97
41.31
1422.24
41.31
1645.77
41.31
1751.09
40.54
26.75
1060.90
38.61
171.74
1312.12
63.53
2431.49
0.93:1
1572.28
76.12
1725.82
0.58:1
1463.55
70.86
1435.25
0.38:1
1687.08
81.68
1247.88
0.33:1
1792.40
86.78
1295.30
0.28:1
1128.19
271.96
1240.87
0.44:1
1053.41
390.69
662.72
3730.73
1431.26
518.71
912.55
3080.14
1469.36
458.22
1011.14
2752.45
1445.59
410.73
1034.86
2749.77
1380.62
349.16
1031.46
2556.64
1983.72
2566.75
2822.68
2501.37
2035.05
33.91
(85.24)
-
2484.99
46.82
34.94
10.38
2729.52
60.02
33.14
8.80
(85.24)
24.56
(4.13)
12.43
25
2009-10 2008-09
* Valued for current and immediately preceeding 3 years only after sub-division of shares @ ` 2/- per share.
Notes :
1.
Capital : Original ` 0.63 crore, Bonus Shares ` 21.02 crore, Conversion of Debentures ` 0.83 crore, Global Depositary Receipts (GDRs)
representing Equity Shares ` 5.82 crore, Conversion of Equity Warrants relating to NCD/SPN Issue ` 9.81 crore and conversion of Preferential
Warrants to Promoters ` 3.20 crore, Equity Shares issued under Employees Stock Option Scheme ` 0.16 crore. Equity Shares allotted on
exercise of Warrants issued on Preferential Basis to Promoter/Promoter Group Company ` 2.70 crore. (Less) Equity Shares bought back and
extinguished upto 31 st March, 2004 ` 2.55 crore. Average Share Capital - ` 41.31 crore.
2.
3.
4.
Sales and other Income include excise duty, Sale of Assets etc.
,P]PKLUKHTV\U[PUJS\KLZ+VYWVYH[L,P]PKLUK<H_VU[OLWYVWVZLKPU[LYPTUHSKP]PKLUK
6.
8YL]PV\Z`LHYpZN\YLZOH]LILLUYLNYV\WLK^OLYLULJLZZHY`
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
15
8HY[PJ\SHYZ
GROSS TURNOVER AND OTHER INCOME
8YV[ILMVYL.PUHUJL+VZ[ZHUK,LWYLJPH[PVUHUKHTVY[PaH[PVUL_WLUZLZ
Finance Costs
8YV[4VZZILMVYL,LWYLJPH[PVUHUKHTVY[PaH[PVUL_WLUZLZ
Depreciation and amortization expenses
8:7.1<47;;*-.7:-<)@
Less: Tax (net)
4LZZ"5PUVYP[`PU[LYLZ[HUKZOHYLVMWYV[SVZZPUHZZVJPH[LZ
8:7.1<47;;).<-:<)@
)KK"*HSHUJLPU;[H[LTLU[VM8YV[HUK4VZZVM8YL]PV\ZALHY
Add/(Deduct): Depreciation on assets where remaining life is Nil,
recognized in retained earnings
Add/(Deduct): Share in jointly controlled entity and accumulated
surplus in associates on consolidation
SURPLUS AVAILABLE FOR APPROPRIATIONS
)WWYVWYPH[PVUZ[V"
Proposed Dividend
Dividend Distribution Tax
Transferred to General Reserve
Balance carried to Balance Sheet
8YL]PV\Z`LHYN\YLZOH]LILLUYLNYV\WLK^OLYLULJLZZHY`
+758)6A:-;=4<;)6,,1>1,-6,"
(1.54)
(1.46)
(1.54)
0.18
(68.11)
10.33
2.10
5.83
16.52
3.37
103.50
10.33
2.10
16.52
3.37
31.18
(72.16)
+OPUH PZ OHZ PU [\YU HMMLJ[LK [OL +VTWHU`pZ 8;. I\ZPULZZ
L8;.,P]PZPVUPZMVJ\ZPUNVUPUUV]H[P]LWYVK\J[TP_HUKJVZ[
reduction initiatives in order to reduce its cost.
+76;741,)<-,.16)6+1)4:-;=4<;"
LJVUZ[Y\J[PVUVM[^V[V^LYZH[1ZSHUK+P[`+LU[LYq1++r,HKHY
by Bombay Realty, i.e. One ICC and Two ICC is in full swing and is
expected to be completed as per schedule by 2018.
Home & You, which is the Companys rebranded textile retail
business, will cover larger markets and focus would be to grow the
Companys consumer base. It would do so through product, design
innovations, offerings to cater diverse consumer preferences and
expand product availability on multi channel platforms.
PSF industry saw a dismal growth of 2% in volume in the country,
which was mainly met through increased cheap imports from
(1.46)
Directors' Report
16
*75*)A:-)4<A"
7.
;=*;1,1):1-;);;7+1)<-;)6,2716<>-6<=:-;"
Pursuant to Section 129(3) of the Companies Act, 2013 (the Act)
read with Rule 5 of the Companies (Accounts) Rules, 2014, the
Z[H[LTLU[JVU[HPUPUNZHSPLU[MLH[\YLZVM[OLUHUJPHSZ[H[LTLU[Z
of the Companys Subsidiary, Associates and Joint Venture
(in Form AOC-1) is forming part of the Consolidated Financial
Statements. Your Company does not have any Material Subsidiary
CHZ KLULK \UKLY [OL ;-*1 47,: :LN\SH[PVUZ E HZ VU
31st March, 2016.
+VUZ[Y\J[PVUVMoL8SHaHpH4\_\Y`0PNO;[YLL[MVY1U[LYUH[PVUHS
Brands at Worli, which was earlier held up due to legal issues, is
L_WLJ[LK[VYLZ[HY[PU[OLJ\YYLU[UHUJPHS`LHY
075-A7="
LKVTLZ[PJ[L_[PSLTHYRL[L_WLYPLUJLK]VS\TLHZ^LSSHZ]HS\L
WYLZZ\YLSLKI`^LHRKLTHUKLPU\_VMJOLHWLYHS[LYUH[P]LZ
from unorganised sector and international markets only
JVTWV\UKLK[OLPTWHJ[VU[OLYL[HPSTHYRL[L,P]PZPVUpZNYVZZ
revenue for 2015-16 was ` 306 crore as against ` 407 crore in the
previous year.
.1@-,,-87;1<;"
874A-;<-:,1>1;176"
LUHUJPHSZ[H[LTLU[VM[OL;\IZPKPHY`+VTWHU`PZRLW[VWLU
MVYPUZWLJ[PVUI`[OLZOHYLOVSKLYZH[[OL+VYWVYH[L7MJLVM[OL
+VTWHU` L +VTWHU` ZOHSS WYV]PKL [OL JVW` VM [OL UHUJPHS
statements of its Subsidiary Company to the shareholders upon
[OLPYYLX\LZ[MYLLVMJVZ[LZ[H[LTLU[ZHYLHSZVH]HPSHISLVU[OL
website of the Company at www.bombaydyeing.com.
LPUMVYTH[PVUWLY[HPUPUN[VJVUZLY]H[PVUVMLULYN`[LJOUVSVN`
absorption, foreign exchange earnings and outgo as required
under Section 134(3)(m) of the Act read with Rule 8(3) of the
Companies (Accounts) Rules, 2014, is annexed herewith as
Annexure A.
-5847A--;<7+378<176;+0-5--;7;"
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
:-4)<-,8):<A<:)6;)+<176;"
All the Independent Directors have given a declaration under subsection (7) of section 149 of the Companies Act, 2013 (the Act)
that they meet the criteria of independence as laid down under
Section 149(6) of the Act and Regulation 26(3) of SEBI (LODR)
Regulations, 2015.
During the year, the non-executive directors of the Company had
no pecuniary relationship or transactions with the Company.
Eight Board Meetings were duly convened and held during the year
and the details of board/committee meetings held are provided in
[OL+VYWVYH[L/V]LYUHUJL:LWVY[LNHWIL[^LLUTLL[PUNZ^HZ
within the period prescribed under the Companies Act, 2013.
16;=:)6+-"
)66=)4:-<=:6"
LL_[YHJ[VM)UU\HS:L[\YUW\YZ\HU[[V[OLWYV]PZPVUZVM;LJ[PVU
92 of the Act read with Rule 12 of the Companies (Management
and Administration) Rules, 2014 is furnished in form MGT 9 in
Annexure C of this Report.
5Y >PUVK 0PYHU QVPULK HZ [OL +OPLM .PUHUJPHS 7MJLY q+.7r VM
the Company with effect from 19th May, 2015 and ceased to be
the CFO of the Company from 3rd November, 2015. Mr. Puspamitra
Das was appointed as the CFO of the Company at the Board
Meeting held on 31st March, 2016 and has joined the Company on
4th April, 2016.
Board Evaluation
,1:-+<7:;)6,3-A5)6)/-:1)48-:;766-4"
3L`5HUHNLYPHS8LYZVUULS
During the year under review, Mr. J. C. Bham retired as Company
Secretary, with effect from the close of business hours on
31st May, 2015.
8):<1+=4):;7.47)6;/=):)6<--;7:16>-;<5-6<;"
17
6VTPUH[PVUHUK:LT\ULYH[PVU8VSPJ`
L*VHYKOHZHKVW[LKVUYLJVTTLUKH[PVUVM[OL6VTPUH[PVU
Remuneration Committee, a policy for selection and appointment
of Directors, Senior Management and their remuneration. A brief
detail of the policy is given in the Corporate Governance Report
and also posted on the website of the Company (weblink http://
teknowits.com/bombaydyeing/Corporategov.aspx).
,1:-+<7:;p:-;876;1*141<A;<)<-5-6<"
Pursuant to Section 134(5) of the Companies Act, 2013, the Board
VM ,PYLJ[VYZ [V [OL ILZ[ VM [OLPY RUV^SLKNL HUK HIPSP[` JVUYT
that:
Directors' Report
18
! )=,1<7:;"
;[H[\[VY`)\KP[VYZ
b)
J
d)
a)
L
[OL`OH]LSHPKKV^UPU[LYUHSUHUJPHSJVU[YVSZ[VILMVSSV^LK
I`[OL+VTWHU`HUK[OH[Z\JOPU[LYUHSUHUJPHSJVU[YVSZHYL
adequate and are operating effectively;
f)
Cost Auditors
Pursuant to Section 148 of the Companies Act, 2013 read with
Rule 14 of the Companies (Cost Records and Audit) Amendment
Rules, 2014, the cost audit records maintained by the Company
in respect of its Polyester and Real Estate Divisions are required
[V IL H\KP[LK L ,PYLJ[VYZ VU [OL YLJVTTLUKH[PVU VM [OL
Audit Committee, appointed M/s. N. I. Mehta & Co. to audit
[OL JVZ[ HJJV\U[Z VM [OL +VTWHU` MVY [OL UHUJPHS `LHY LUKPUN
31st March, 2016 on a remuneration of ` 5,00,000/- (Rupees
.P]L4HROWS\ZV\[VMWVJRL[L_WLUZLZHUKHWWSPJHISL[H_LZL
YLT\ULYH[PVUWH`HISL[V[OL+VZ[)\KP[VYPZYLX\PYLK[VILYH[PLK
by the shareholders at the AGM.
+7:87:)<-/7>-:6)6+-"
Pursuant to Clause 49 of the Listing Agreement and Regulation
17(7) of SEBI (LODR) Regulations, 2015, a Management Discussion
and Analysis Report is given in Annexure D to this Report.
A separate report on Corporate Governance pursuant to Clause
49 of the Listing Agreement and Regulation 34(3) and 53(f) of
;-*147,::LN\SH[PVUZHSVUN^P[OHJLY[PJH[LMYVT[OL
Statutory Auditors of the Company regarding compliance of the
conditions of Corporate Governance are annexed to this Report
as Annexure E.
Internal Auditors
M/s. Aneja & Associates ceased to be internal auditors of the
Company with effect from the closing of business hours on
31st December, 2015.
At the Board Meeting held on 18th December, 2015, M/s. Ernst &
Young, Chartered Accountants, were appointed as the Internal
Auditors of the Company.
8):<1+=4):;7.-5847A--;"
;LJYL[HYPHS)\KP[
;1/61.1+)6<)6,5)<-:1)47:,-:;"
LYL ^LYL UV ZPNUPJHU[ HUK TH[LYPHS VYKLYZ WHZZLK I` [OL
regulators or courts or tribunals, which would impact the going
concern status and the Companys operations in future.
5)<-:1)4+0)6/-;"
L *VHYK VM ,PYLJ[VYZ VM `V\Y +VTWHU` OHK HWWYV]LK [V ZLSS
dispose of its textiles processing Unit at B-28, MIDC Industrial
Area, Ranjangaon, Maharashtra, details of which have been
provided on Page No. 16 of this report.
16<-:6)4+76<:74;A;<-5;)6,<0-1:),-=)+A"
Internal Audit plays a key role in providing an assurance to
the Board of Directors with respect to the Company having
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
HKLX\H[L1U[LYUHS+VU[YVS;`Z[LTZL1U[LYUHS+VU[YVSZ`Z[LTZ
provide, among other things, reasonable assurance of recording
the transactions of its operations in all material respects and
VM WYV]PKPUN WYV[LJ[PVU HNHPUZ[ ZPNUPJHU[ TPZ\ZL VY SVZZ VM
Companys assets. Details about the adequacy of Internal Financial
Controls are provided in the Management Discussion and Analysis
Report.
+7:87:)<-;7+1)4:-;876;1*141<A"
)=,1<7:;=)41.1+)<176;"
41;<16/)/:--5-6<"
L YLTHYRZ PM HU` LP[OLY I` [OL )\KP[VYZ VY I` [OL 8YHJ[PJPUN
Company Secretary in their respective reports have been dealt
with appropriately in this report.
:1;35)6)/-5-6<8741+A"
L+VTWHU`OHZMVYT\SH[LKH:PZR)ZZLZZTLU[5HUHNLTLU[
Policy. Your attention is drawn to the Report on Corporate
Governance for details.
)=,1<+7551<<--"
L)\KP[+VTTP[[LLVM[OL+VTWHU`JVTWYPZLZVM1UKLWLUKLU[
,PYLJ[VYZ L JVTWVZP[PVU VM KPYLJ[VYZ HUK V[OLY KL[HPSZ HYL
provided in the Corporate Governance Report of the Company.
L +VTWHU` OHZ LZ[HISPZOLK H ]PNPS TLJOHUPZT [OYV\NO [OL
committee, wherein the genuine concerns can be expressed by
[OL LTWSV`LLZ HUK KPYLJ[VYZ L +VTWHU` OHZ HSZV WYV]PKLK
adequate safeguards against victimization of employees who
L_WYLZZ[OLPYJVUJLYUZL+VTWHU`OHZWYV]PKLK[OLKL[HPSZVM
the vigil mechanism in the Whistle Blower Policy in the Corporate
Governance Report and also posted these on the website of the
Company: (http://teknowits.com/bombaydyeing/Corporategov.
aspx).
19
29. APPRECIATION
+0)6/-7.:-/1;<:):)6,;0):-<:)6;.-:)/-6<"
Securities and Exchange Board of India (SEBI) vide its Order
PR No. 66/2016 dated 22nd March, 2016 had passed an interim
order against the Companys Registrar & Transfer Agent (R&TA),
Place: Mumbai
Date: 27th May, 2016.
NUSLI N.WADIA
Chairman
Directors' Report
20
B.
-
:LJ`JSPUNVMZWPUUPZO,5^H[LY
Energy Conservation by various process improvement
projects.
J 1TWHJ[ VM TLHZ\YLZ H[ H I MVY YLK\J[PVU VM LULYN`
JVUZ\TW[PVU HUK JVUZLX\LU[ PTWHJ[ VU [OL JVZ[ VM
WYVK\J[PVUVMNVVKZ
PSF operations
1TWYV]LTLU[PUZWLJPJLULYN`JVUZ\TW[PVUWLY5<VM
PSF production.
K <V[HS -ULYN` +VUZ\TW[PVU HUK -ULYN` +VUZ\TW[PVU WLY
\UP[VMWYVK\J[PVUPUWYLZJYPILK.VYT)
As per Form A attached.
TECHNOLOGY ABSORPTION
Research and Development (R & D).
;WLJPJHYLHZPU^OPJO:,JHYYPLKV\[I`[OLJVTWHU`
PSF operations
Super micro denier products development.
Commercialisation of coarser denier in OPW, BLK & SD
products.
,L]LSVWTLU[VMSV^ZOYPURHNL0PNOLSVUNH[PVUIYL
,L]LSVWTLU[VMZW\USHJLIYL^P[O.,)HWWYV]HSZ
for nonwovens.
,VWLK`LK*4378?;\WLYOPNO[LUHJP[`IYL
!,78?IYLMVYYPUNZWPUUPUN
7W[PTPZH[PVU VM VPS WPJR \W PU IYL MVY IL[[LY
performance at customer end.
Development of customised products, for Air Jet &
ROTO spinning.
*LUL[ZKLYP]LKHZHYLZ\S[VM[OLHIV]L:,
PSF operations
Improvement in product mix & availability of value
added products.
Improved customer base & market share.
.\[\YLWSHUVMHJ[PVU
PSF operations
1UJYLHZPUNPU]VS\TLVM78?*SHJRIYLI`^PKLUPUN
the denier mix.
3L`MVJ\Z[VPUJYLHZL[OL]VS\TLVMTPJYVULYKLUPLY
products.
To establish speciality products like Low Shrinkage/
high elongation PSF, Low cut length PSF, OPW & Black
Super High Tenacity, spunlace (FDA) Anti-Microbial
and Hygiene & Flame Retardant Products.
Development of infrastructure to establish special
UPZOHWWSPJH[PVUMVYUVU^V]LUZ
Improvement & optimization of processing dope dyed
TPJYVIYLZ
Execution of various process improvement projects for
reduction in energy consumption.
4. Expenditure on R & D
Expenditure reported on R & D during the year under
report: ` Nil (previous year - ` Nil).
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
21
FORM A
NUSLI N.WADIA
Chairman
Production
Unit
A.
B.
Current Year
Previous Year
584.14
44.27
7.58
674.74
42.99
6.59
0.06
2.50
26.02
3,189.01
6.39
20,037.57
1,539.00
5.14
33,374.43
2,70,102.85
18.12
670.97
3,64,833.12
34.33
940.98
32,335.89
13.27
4,103.45
46,325.81
25.34
5,469.39
1000
per
Mtrs
M.T.
1,440.08
371.21
479.47
367.30
per
M.T.
0.02
0.01
per
MMBTU
1.81
2.28
1000
per
Mtrs
M.T.
0.95
0.21
0.88
0.20
Directors' Report
22
No. of Options
Prior to Sub-division of shares from face value of ` 10/- per share to ` 2/- per share.
Financial Year: 2002-03 ....................................................................................... 70,000 Options
Financial Year: 2003-04 ....................................................................................... 55,000 Options
Financial Year: 2004-05 ........................................................................................ 23,700 Options
Financial Year: 2005-06 ....................................................................................... 14,500 Options
Financial Year: 2006-07 ...........................................................................................1,210 Options
Financial Year: 2012-13 .........................................................................................14,000 Options
Total ...................................................................................................................... 1,78,410 Options
Post Sub-division of shares from face value of ` 10/- per share to ` 2/- per share
Financial Year: 2013-14 ........................................................................................ 50,000 Options
LU\TILYZVMVW[PVUZOH]LILLUHWWYVWYPH[LS`HKQ\Z[LK\WVUZ\IKP]PZPVUVM[OLLX\P[`ZOHYLZVU
31st October, 2012, as under:
2002-03
2003-04
55,000
2,75,000
2004-05
23,700
1,18,500
2005-06
14,500
72,500
2006-07
1,210
6,050
2012-13
14,000
70,000
50,000
Total
1,78,410
*Options issued subsequent to the sub-division
9,42,050
.PUHUJPHSALHY
2013-14*
I LWYPJPUNMVYT\SH
Prior to the amendment to the Employee Stock Option Scheme (ESOS) of the Company at the
Annual General Meeting held on 7th August, 2012, the exercise price was ` 10/- per share.
After the said amendment, the exercise price was determined in accordance with the pricing
formula approved by the shareholders on 7th August, 2012, i.e. at the latest available closing
market price on the stock exchange having highest trading volume, prior to the date of the
meeting of the Board of Directors or Nomination and Remuneration Committee in which options
were granted.
Accordingly, the options were granted at an exercise price of ` 10/- per share for the grants
made during the Financial Years 2002-03 to 2006-07, i.e. prior to the amendment to the
scheme on 7th August, 2012.
Subsequent to the amendment, 14,000 options were granted at an exercise price of ` 528.25
being the closing market price on the previous date of grant, i.e. 6th August, 2012, for the grants
made on 7th August, 2012, which was prior to the sub-division of shares.
Consequent upon the sub-division of equity shares on and from 31st October, 2012, the exercise
price was adjusted as under:
Date of Grant
)KQ\Z[LK-_LYJPZL8YPJL`ZOHYL
07.08.2012
105.65
Further, 50,000 Options were granted at an exercise price of ` 79.50, being the closing market
price on the previous date of grant, i.e. 27th May, 2013 for the grants made on 28th May, 2013.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
8HY[PJ\SHYZ
23
No. of Options
st
8,59,550 Options
Options vest 1 year after the date of grant of options
st
Options lapsed
` 15,79,100/-
(i)
70,000 Options
(j)
70,000 Options granted to the ex-Joint Managing Director, Mr. Durgesh Mehta
Directors' Report
24
8HY[PJ\SHYZ
No. of Options
8YV[)M[LY<H_
As reported
(85.24)
Nil
Nil
)KQ\Z[LK8YV[
*HZPJ`
,PS\[LK`
As reported
(4.13)
(4.13)
As adjusted
(4.13)
(4.13)
(m) Weighted-average exercise price and No options were granted during the year
weighted-average fair values of options
shall be disclosed separately for options
whose exercise price either equals or
exceeds or is less than the market price of
the stock. [Also refer point (b)]
U ,LZJYPW[PVU VM TL[OVK HUK ZPNUPJHU[
assumptions used during the year to
estimate the fair values of options:
i)
ii)
Not Applicable
Place: Mumbai
Date: 27th May, 2016.
NUSLI N.WADIA
Chairman
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
25
I
i
CIN
L17120MH1879PLC000037
ii
Registration Date
iii
L*VTIH`,`LPUNHUK5HU\MHJ[\YPUN+VTWHU`4PTP[LK
iv
)KKYLZZVM[OL:LNPZ[LYLKVMJL
& contact details
vi
Yes
vii Name , Address & contact details of the Registrar & Transfer
Agent, if any.
II
8:16+18)4*=;16-;;)+<1>1<1-;7.<0-+758)6A"
All the business activities contributing 10% or more of the total turnover of the Company shall be stated:
% to total turnover
of the Company
20302
57.95
13131
13924
6810
III
16.57
25.49
8):<1+=4):;7.074,16/;=*;1,1):A);;7+1)<-+758)61-;"
CIN/GLN
HOLDING/
SUBSIDIARY/
ASSOCIATE
% OF
SHARES
HELD
APPLICABLE
SECTION
U67120MH1976PLC019304
SUBSIDIARY
95.69
2(87)
8LU[HS<L_[PSL,LHSLYZ4PTP[LK
U65993MH1984PLC253516
ASSOCIATE
49.00
2(6)
U70102MH2008PLC183489
ASSOCIATE
40.00
2(6)
Incorporated in Indonesia
Joint Venture
33.89
2(6)
Promoters
Bodies Corporates
Bank/FI
Any other
c)
d)
e)
Any other
e)
10533790
PUBLIC SHAREHOLDING
Banks/FIs
Central Govt.
State Govt.
Insurance Companies
FIIs
b)
c)
d)
e)
f)
g)
h)
i)
;=*<7<)4*"
Foreign Bodies
Mutual Funds
a)
1UZ[P[\[PVUZ
B.
34452880
611466
13945688
8716720
533964
10645042
108122618
Banks/FIs
d)
Bodies Corporates
c)
5161248
15695038
Other Individuals
b)
92427580
1983030
88359097
2085453
Demat
118450
3900
1250
102365
10935
8O`ZPJHS
34571330
611466
13949588
8717970
636329
10655977
108122618
15695038
10533790
5161248
92427580
1983030
88359097
2085453
Total
16.74
0.30
6.75
4.22
0.31
5.16
52.35
7.60
5.10
2.50
44.75
0.96
42.78
1.01
VM<V[HS
Shares
6VVM;OHYLZOLSKH[[OLILNPUUPUNVM[OL`LHY
;=*<7<)4)
NRI- Individuals
a)
.VYLPNU
;=*<7<)4")
Trusts
b)
Individual/HUF
a)
1UKPHU
A.
+H[LNVY`VM;OHYLOVSKLYZ
1 +H[LNVY`^PZLZOHYLOVSKPUN
32036357
1950
4598749
11302064
8716720
643972
6772902
108122618
13336178
10533790
2802388
94786440
1983030
90717957
2085453
118450
3900
1250
102365
10935
8O`ZPJHS
32154807
1950
4598749
11305964
8717970
746337
6783837
108122618
13336178
10533790
2802388
94786440
1983030
90717957
2085453
Total
15.57
2.23
5.47
4.22
0.36
3.28
52.35
6.46
5.10
1.36
45.89
0.96
43.92
1.01
VM<V[HS
Shares
6VVM;OHYLZOLSKH[[OLLUKVM[OL`LHY
Demat
1.93
0.00
-1.28
0.00
0.00
0.00
0.00
0.05
-1.87
0.00
0.00
0.00
0.00
0.00
-1.14
1.14
0.00
0.00
1.14
0.00
0.00
JOHUNL
during the
`LHY
26
Directors' Report
Indian
Overseas
Individuals
Others (specify)
i)
ii)
b)
i)
ii)
c)
(i)
/YHUK<V[HS)*+
+
201440945
2762170
56103277
90556157
<V[HS8\ISPJ;OHYLOVSKPUN
*%**
(v) NBFC
;=*<7<)4*"
366
144760
2779425
95632857
61061527
18666
144760
1139372
5058227
41871255
15400
12813847
Total
5093955 206534900
17255
5076700
4958250
18300
161230
126000
4932227
978142
4544485
15400
92835
8O`ZPJHS
37326770
12721012
Demat
100.00
1.35
46.30
29.56
0.01
0.07
0.55
2.45
20.27
0.01
6.20
VM<V[HS
Shares
6VVM;OHYLZOLSKH[[OLILNPUUPUNVM[OL`LHY
P] \HSPLK.VYLPNU1U]LZ[VY
(ii) Trusts
Bodies Corporates
a)
6VU1UZ[P[\[PVUZ
+H[LNVY`VM;OHYLOVSKLYZ
201731430
2762170
90846642
58810285
23522
16777
134075
1359062
4929183
42475773
9871893
2779425
95632857
63478050
23522
16777
134075
1519842
4929183
46875033
15400
9964218
Total
4803470 206534900
17255
4786215
4667765
160780
4399260
15400
92325
8O`ZPJHS
100.00
1.35
46.30
30.73
0.01
0.01
0.06
0.74
2.39
22.70
0.01
4.82
VM<V[HS
Shares
6VVM;OHYLZOLSKH[[OLLUKVM[OL`LHY
Demat
0.00
0.00
0.00
1.17
0.01
0.00
0.00
-0.01
0.18
-0.06
2.42
0.00
-1.38
JOHUNL
during the
`LHY
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
27
Shareholders Name
N W EXPORTS LIMITED
Sl
No.
10
11
12
13
14
15
16
17
18
19
20
21
22
23
PP ;0):-074,16/7.8:757<-:;"
19750
1489700
419750
25783320
1151918
108188
1665500
128525
378080
21681037
24550
500
1310020
2131070
27771550
409700
814030
137000
180530
3000000
264900
144690
59660
No. of shares
0.01
0.72
0.20
12.48
0.56
0.05
0.81
0.06
0.18
10.50
0.01
0.00
0.63
1.03
13.45
0.20
0.39
0.07
0.09
1.45
0.13
0.07
0.03
VM[V[HS
shares
of the
+VTWHU`
640000
4760500
1545000
VMZOHYLZ
WSLKNLK
LUJ\TILYLK
to total shares
;OHYLOVSKPUNH[[OLILNPUUPUNVM[OL`LHY
19750
1489700
419750
25783320
1151918
1328
1665500
128525
378080
22139783
24550
500
3005293
27847740
409700
814030
137000
180530
3000000
264900
144690
59660
No. of shares
0.01
0.72
0.20
12.48
0.56
0.00
0.81
0.06
0.18
10.72
0.01
0.00
0.00
1.46
13.48
0.20
0.39
0.07
0.09
1.45
0.13
0.07
0.03
VM[V[HS
shares
of the
+VTWHU`
640000
6513500
600000
VMZOHYLZ
WSLKNLK
LUJ\TILYLK
to total shares
;OHYLOVSKPUNH[[OLLUKVM[OL`LHY
0.00
0.00
0.00
0.00
0.00
-0.05
0.00
0.00
0.00
0.22
0.00
0.00
-0.63
0.42
0.04
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
JOHUNLPU
share holding
during the
`LHY
28
Directors' Report
N W EXPORTS LIMITED
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
Total
25
108122618
861055
3455000
135815
1000
195460
500
406200
500
500
500
10283790
250000
67500
159000
180180
1854040
49650
567100
122640
458220
24
52.35
0.42
1.67
0.07
0.00
0.09
0.00
0.20
0.00
0.00
0.00
4.98
0.12
0.03
0.08
0.09
0.90
0.02
0.27
0.06
0.22
VM[V[HS
shares
of the
+VTWHU`
6945500
VMZOHYLZ
WSLKNLK
LUJ\TILYLK
to total shares
;OHYLOVSKPUNH[[OLILNPUUPUNVM[OL`LHY
No. of shares
Shareholders Name
Sl
No.
108122618
861055
3455000
135815
1000
195460
500
406200
75103
467008
263058
10283790
250000
67500
159000
180180
1528810
268672
458220
52.35
0.42
1.67
0.07
0.00
0.09
0.00
0.20
0.04
0.23
0.13
4.98
0.12
0.03
0.08
0.09
0.74
0.00
0.00
0.13
0.22
VM[V[HS
shares
of the
+VTWHU`
8203500
450000
VMZOHYLZ
WSLKNLK
LUJ\TILYLK
to total shares
;OHYLOVSKPUNH[[OLLUKVM[OL`LHY
No. of shares
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.04
0.23
0.13
0.00
0.00
0.00
0.00
0.00
-0.16
-0.02
-0.27
0.07
0.00
JOHUNLPU
share holding
during the
`LHY
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
29
6HTLVM[OL8YVTV[LY8YVTV[LY/YV\W
N W EXPORTS LIMITED
Sl.
No.
10
11
12
500
500
500
1854040
49650
567100
122640
108188
21681037
1310020
2131070
27771550
No. of shares
0.90
0.02
0.27
0.06
0.05
0.63
1.03
13.45
VM[V[HS
shares of the
+VTWHU`
PPP +0)6/-168:757<-:;p;0):-074,16/;8-+1.A1.<0-:-1;67+0)6/-"
15.01.2016
30000
13.11.2015
74603
261278
04.09.2015
175230
28.08.2015
49860
15.01.2016
04.09.2015
212698
-325230
-49650
-567100
04.09.2015
28.08.2015
28.08.2015
28.08.2015
146032
-49860
13.11.2015
04.09.2015
-17000
-30000
26.06.2015
-10000
431746
04.09.2015
19.06.2015
27000
-1310020
874223
76190
1UJYLHZL
,LJYLHZLPU
shareholding
26.06.2015
28.08.2015
04.09.2015
04.09.2015
Date
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Reason
75103
467008
263058
1528810
268672
1328
22139783
3005293
27847740
No. of shares
0.04
0.23
0.13
0.72
0.13
10.72
1.46
13.48
VM[V[HS
shares of the
+VTWHU`
30
Directors' Report
2
3
Sr.
No.
1119888
787500
1567477
2097436
2762170
822787
6618784
6009994
0.54
0.38
0.76
1.02
1.34
0.40
3.20
2.91
21872.00
4406.00
17.04.2015
-62277.00
10.04.2015
18.12.2015
753175.00
331269.00
311003.00
622020.00
194664.00
414.00
345252.00
406279.00
127156.00
-4300.00
-1343100.00
-394200.00
-478000.00
-271231.00
-9820.00
-34700.00
-343200.00
-272100.00
-36000.00
30.06.2015
10.07.2015
31.07.2015
07.08.2015
20.11.2015
27.11.2015
25.12.2015
31.12.2015
08.01.2016
18.03.2016
08.05.2015
15.05.2015
22.05.2015
29.05.2015
05.06.2015
26.06.2015
17.04.2015
24.04.2015
01.05.2015
-13100.00
1UJYLHZL
,LJYLHZLPU
shareholding
26.06.2015
Date of
[YHUZHJ[PVU
P] ;OHYLOVSKPUN8H[[LYUVM[VW[LU;OHYLOVSKLYZV[OLY[OHU,PYLJVYZ8YVTV[LYZ0VSKLYZVM/,:Z),:Z"
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Reason
958407
787500
1505200
2097436
2762170
1701474
6618784
8222539
0.46
0.38
0.73
1.02
1.34
0.82
3.20
3.98
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
31
Chinappa M B
11
10
Sr.
No.
1027241
0.50
22703.00
43683.00
-47505.00
-23656.00
40231.00
30062.00
-20874.00
100000.00
100000.00
110000.00
350000.00
100000.00
75000.00
-68908.00
-50000.00
100000.00
08.05.2015
17.07.2015
28.08.2015
04.09.2015
16.10.2015
23.10.2015
18.12.2015
17.07.2015
24.07.2015
21.08.2015
11.12.2015
25.12.2015
31.12.2015
12.02.2016
19.02.2016
31.03.2016
1UJYLHZL
,LJYLHZLPU
shareholding
24.04.2015
01.05.2015
08.05.2015
15.05.2015
22.05.2015
29.05.2015
28.08.2015
04.09.2015
11.09.2015
18.09.2015
25.09.2015
30.09.2015
09.10.2015
01.05.2015
Date of
[YHUZHJ[PVU
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Transfer
Reason
816092
1162336
0.40
0.56
32
Directors' Report
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
33
] ;OHYLOVSKPUNVM,PYLJ[VYZ358Z"
Sr.
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
6HTLVM,PYLJ[VYZ358Z
;OHYLOVSKPUNH[[OLILNPUUPUNVM[OL`LHY
No. of shares
VM[V[HSZOHYLZVM
[OL+VTWHU`
1926770
0.93
7100
0.00
3800
0.00
0
0.00
35000
0.02
50000
0.02
0
0.00
1219418
0.59
0
0.00
287525
0.14
0
0.00
250
0.00
0
0
;OHYLOVSKPUNH[[OLLUKVM[OL`LHY
No. of shares
VM[V[HSZOHYLZVM
[OL+VTWHU`
0
0.00
7100
0.00
3800
0.00
0
0.00
35000
0.02
50000
0.02
0
0.00
1219418
0.59
0
0.00
287525
0.14
0
0.00
250
0.00
0
0
>16,-*<-,6-;;"
` in crore
1UKLI[LKULZZVM[OL+VTWHU`PUJS\KPUNPU[LYLZ[V\[Z[HUKPUNHJJY\LKI\[UV[K\LMVYWH`TLU[
;LJ\YLK4VHUZ
=UZLJ\YLK
L_JS\KPUNKLWVZP[Z
Loans
1UKLI[ULZZH[[OLILNPUUPUNVM[OLUHUJPHS`LHY
i) Principal Amount
1,574.72
56.44
ii) Interest due but not paid
0.21
iii) Interest accrued but not due
1.58
<V[HSPPPPPP
1,576.50
56.44
+OHUNLPU1UKLI[LKULZZK\YPUN[OLUHUJPHS`LHY
Additions
784.71
692.15
Reduction
(348.84)
(407.42)
Net Change
435.87
284.73
1UKLI[LKULZZH[[OLLUKVM[OLUHUJPHS`LHY
i) Principal Amount
2,010.59
341.17
ii) Interest due but not paid
2.20
iii) Interest accrued but not due
2.23
<V[HSPPPPPP
2,015.02
341.17
Deposits
Total
Indebtedness
96.95
96.95
1,728.12
0.21
1.58
1,729.91
0.00
(18.40)
1,417.28
(1,127.61)
289.67
78.55
2,430.31
2.20
2.23
2,434.74
78.55
>1 :-5=6-:)<1767.,1:-+<7:;)6,3-A5)6)/-:1)48-:;766-4"
)
Sl.
No
1
2
3
4
5
:LT\ULYH[PVU[V5HUHNPUN,PYLJ[VY?OVSL[PTLKPYLJ[VYHUKVY5HUHNLY"
8HY[PJ\SHYZVM:LT\ULYH[PVU
Jehangir N. Wadia
5HUHNPUN,PYLJ[VY
<V[HS)TV\U[PU`
Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income Tax. 1961.
54,816,455
54,816,455
(b) Value of perquisites u/s 17(2) of the Income tax Act, 1961
2,817,712
2,817,712
J8YV[ZPUSPL\VMZHSHY`\UKLYZLJ[PVUVM[OL1UJVTL<H_)J[!
Stock option
Sweat Equity
Commission
HZ
VMWYV[
others (specify)
Others: Bonus
6,089,071
6,089,071
Perquisites and Allowances
1,804,248
1,804,248
<V[HS)
65,527,486
65,527,486
+LPSPUN HZ WLY [OL )J[ (
VM WYV[Z JHSJ\SH[LK \UKLY ;LJ[PVU ! VM [OL ;PUJL[OL+VTWHU`OHZUVWYV[VYPUHKLX\H[LWYV[Z
Companies Act, 2013)
the limits of schedule V would apply
1UKLWLUKLU[,PYLJ[VYZ
7]LYHSS+LPSPUNHZWLY[OL)J[
<V[HS*%
<V[HS
(b) Commission
7[OLY6VU-_LJ\[P]L,PYLJ[VYZ
<V[HS
(b) Commission
1255000
1360000
1080000
1080000
1080000
Mr. S. M. Palia
940000
940000
940000
Mr. S.
Ragothaman
875000
875000
875000
Mr. S. S.
Kelkar
940000
940000
940000
Mr. Ishaat
Hussain
;PUJL[OL+VTWHU`OHZUVWYV[VYPUHKLX\H[LWYV[Z[OLSPTP[ZVMZJOLK\SL>^V\SKHWWS`
520000
520000
660000
660000
Mr. Ness N.
Wadia
735000
735000
Mr. A. K.
Hirjee
Mr. Nusli N.
Wadia
700000
700000
Mr. R A Shah
6HTLVM[OL,PYLJ[VYZ
* Total remuneration to Managing Director, Whole-time Directors and the other Directors (being the total of A and B)
8HY[PJ\SHYZVM:LT\ULYH[PVU
Sl.
No
:LT\ULYH[PVU[VV[OLYKPYLJ[VYZ"
*
520000
520000
520000
,Y5YZ
Sheela Bhide
6970000
1180000
1180000
5790000
5790000
Total Amount
PU`
34
Directors' Report
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
C.
35
:-5=6-:)<176<73-A5)6)/-:1)48-:;766-47<0-:<0)65,5)6)/-:?<,"
(in `)
Sl.
No.
8HY[PJ\SHYZVM:LT\ULYH[PVU
/YVZZ;HSHY`
3L`5HUHNLYPHS8LYZVUULS
Mr. J. C. Bham
+VTWHU`
;LJYL[HY`\W[V
Total
Mr. K. Subharaman
+VTWHU`
;LJYL[HY`MYVT
2933394
4229224
6900015
14062633
17087
24648
14812
56547
77280
180000
325161
582441
3027761
4433872
7239988
14701621
J 8YV[ZPUSPL\VMZHSHY`\UKLYZLJ[PVU
of the Income Tax Act, 1961
2
Stock Option
Sweat Equity
Commission
HZ
VMWYV[
others, specify
Allowances
Total
>118-6)4<1-;8=61;05-6<+7587=6,16/7.7..-6+-;"
<`WL
;LJ[PVUVM[OL
+VTWHUPLZ)J[
*YPLM,LZJYPW[PVU
,L[HPSZVM8LUHS[`
8\UPZOTLU[
Compounding fees
imposed
A. COMPANY
Penalty
Punishment
NIL
Compounding
B. DIRECTORS
Penalty
Punishment
NIL
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty
Punishment
Compounding
NIL
)\[OVYP[`:,6+4<
+V\Y[
)WWLHSTHKLPMHU`
NP]LKL[HPSZ
36
L;LJ[VYPZ\UKLYNVPUN[YHUZMVYTH[PVUMYVTILPUNSHYNLS`MYHNTLU[LK
and unorganized to becoming structured and organized through
development of integrated townships, industrial parks and affordable
homes.
Residential real estate in India accounts for 80% of the real estate
ZLJ[VYLKLTHUKMVYYLZPKLU[PHSYLHSLZ[H[LTHYRL[PU1UKPHPZL_WLJ[LK
to be good as the economy grows, disposable incomes increase, credit
availability improves and urbanization picks up pace.
AV\Y +VTWHU` LUQV`Z [OL ILUL[Z VM [^V SHYNL JVU[PN\V\Z SHUK
WHYJLSZ ^P[O JSLHY [P[SLZ NP]PUN P[ H ZPNUPJHU[ HK]HU[HNL V]LY V[OLY
YLHSLZ[H[LWSH`LYZLZ[YH[LNPJSVJH[PVUVM[^VZP[LZ^LSSJVUULJ[LK
with the commercial hub of Central Mumbai and equidistant from
the commercial hubs of South Mumbai and Bandra-Kurla Complex, is
L_WLJ[LK[VHKK]HS\L[V[OLZP[LZLWSHUPZ[VKL]LSVW[OLZLZP[LZHZ
TP_LK\ZLKL]LSVWTLU[ZJVTWYPZPUNVMYLZPKLUJLZVMJLZHUKS\_\Y`
retail, with well-planned amenities and large open spaces.
To this end the rate cut of 50 basis points by Reserve Bank of India
and the implementation of the seventh pay Commission will boost the
demand for housing.
L:LHS-Z[H[LTHYRL[OHZILLUHKQ\Z[PUN[VHSPNUPUNZ\WWS`[V [OL
available demand. Developers across all categories are paying more
attention to the requirements of buyers and have started supplying
inventories at a quicker pace. New launches across all markets have
reduced and the developers are more focused on completion of their
projects. High demand for ready-to-move in projects and increased
focus on project completion will set the contours for the realty sector
outlook in 2016.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
37
& carry stores have been investing in their private labels as alternates
to branded home textiles. Proliferation of such Private labels may
have direct impact on volumes of your Company and make the cost of
merchandising expensive as well.
LRL`JVUJLYUMVYI\ZPULZZYLTHPUZ[OLZS\NNPZOJVUZ\TLYKLTHUK
IV[O PU [OL \YIHU HUK Y\YHS THYRL[Z PZ JV\WSLK ^P[O [OL PU[LUZL
competition from the existing players and new players will provide a
major challenge.
POLYESTER BUSINESS
1UK\Z[Y`;[Y\J[\YLHUK,L]LSVWTLU[Z
Your Company is one of the four producers of Polyester Staple Fibre
(PSF) in the country with a market share of about 15%. While the market
leader is fully vertically integrated, the other producers, including the
Company are stand-alone PSF manufacturers.
PSF industry saw a meagre volume growth of 2% which was mainly met
[OYV\NO PUJYLHZLK JOLHW PTWVY[Z MYVT +OPUH L V]LYHSS WVS`LZ[LY
industrys capacity utilization remained under 80%, but the Companys
utilization remained comparatively stable at 91% (previous year 93%).
LKP]PZPVUYLJVYKLKHULNH[P]LNYV^[OPUZHSLZ]VS\TLVM
K\YPUN
the year.
Raw material, PTA and MEG prices remained very volatile in line with
crude oil prices. With the commissioning of new production capacity of
PTA in the country, the availability in the domestic market improved.
However, due to imposition of Anti-dumping duties on imports of PTA,
and consequential increase in price by domestic PTA producers, the
cost of raw material has increased during the year.
Lower fuel prices have resulted in reduced conversion cost of PSF.
Recycled polyester has been gaining market share due to preferential
L_JPZLK\[`[YLH[TLU[PU1UKPH0V^L]LYIYLWYVK\JLKI``V\Y+VTWHU`
is of much superior quality and has wider usage compared to such
YLJ`JSLKIYLLYLMVYLKLZWP[LJVTWL[P[PVUMYVTZ\JOJOLHWLYIYL
`V\Y+VTWHU`PZHISL[VTHPU[HPU[OLTHYRL[ZOHYLL/V]LYUTLU[VM
India has partially addressed the differential excise duty structure for
YLJ`JSLKWVS`LZ[LYPU[OLI\KNL[MVYZJHS`LHY
OPPORTUNITIES AND THREATS
L VWWVY[\UP[` MVY 8;. PZ KYP]LU I` P[Z K\YHIPSP[` ]LYZH[PSP[` VM LUK
usage and lower price as compared to cotton and other substitute
IYLZUH[\YHSVYTHUTHKL8VS`LZ[LYPZ\ZLKPUHWWHYLSZZWVY[Z^LHY
home furnishing, automotive and industrial textiles. India has an
LUVYTV\ZTHYRL[WV[LU[PHS^P[OWLYJHWP[HJVUZ\TW[PVUVMHSSIYLZH[
HWWYV_PTH[LS`
VMNSVIHSWLYJHWP[HJVUZ\TW[PVUL/V]LYUTLU[
of Indias push to substantially increase the size of the textile industry
V\[W\[^PSSWH]L[OL^H`MVYSHYNLYTHUTHKLIYLJVUZ\TW[PVUK\L[V
SPTP[LKH]HPSHIPSP[`VMJV[[VUILUL[PUN[OLWVS`LZ[LYPUK\Z[Y`H[SHYNL
38
VM[OL+VTWHU`LYLWVY[ZHUKUKPUNZVM[OLPU[LYUHSH\KP[VYZHUK
the internal control system are periodically reviewed by the Audit
Committee. To maintain its objectivity and independence, the Internal
Audit function reports to the Chairman of the Audit Committee of the
Board.
L1U[LYUHS)\KP[VYZTVUP[VYHUKL]HS\H[L[OLLMJHJ`HUKHKLX\HJ`
of internal control systems in the Company, its compliance with
operating systems, accounting procedures and policies at all locations
of the Company and its subsidiary. Based on the report of internal
audit function, process owners undertake corrective action in their
YLZWLJ[P]LHYLHZHUK[OLYLI`Z[YLUN[OLU[OLJVU[YVSZ;PNUPJHU[H\KP[
observations and corrective actions thereon are presented to the Audit
Committee of the Board.
HUMAN RESOURCES
L +VTWHU` JVU[PU\LZ [V Z[YLUN[OLU P[Z WLVWSL JHWHIPSP[PLZ PU P[Z
quest to build a growing and sustainable business. An increased focus
is being maintained to further build employee retention at all levels in
the Company.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
39
L*VHYKPZJVTWVZLKVMLTPULU[WLYZVUZ^P[OJVUZPKLYHISLWYVMLZZPVUHSL_WLYPLUJLPUKP]LYZLLSKZHUKJVTWYPZLZHTHQVYP[`VM6VU
Executive Directors. Over two thirds of the Board consists of Non-Executive Directors and of these, the majority are Independent Directors.
5Y6\ZSP6?HKPHPZ[OL+OHPYTHUVM[OL*VHYKLKL[HPSZHYLNP]LUILSV^"
6HTL,166VZ
+H[LNVY`
Non-Executive/
Promoter
6VVM,PYLJ[VYZOPWZ
PUV[OLYW\ISPJ
JVTWHUPLZHZVU
Chairman Member
3
4
No. of Committee
positions held in other
W\ISPJJVTWHUPLZHZ
on 31.3.2016
Chairman Member
-
Independent
No
-do-
Yes
-do-
Yes
-do-
No
-do-
Yes
-do-
Yes
-do-
Yes
Non-Executive/
Promoter
Managing
Director/ Promoter
Yes
Yes
Note"Other than Mr. Nusli N. Wadia, Mr. Ness N. Wadia and Mr. Jehangir N. Wadia who are related to each other, no Director is related to any
other Director.
*
Excludes directorship in foreign companies, private companies and companies governed by Section 8 of the Companies Act, 2013.
**
Excludes Committees other than Audit Committee and Stakeholders Relationship Committee and companies other than public limited
companies.
During the year under review, 8 Board Meetings were held, the dates being 24th April, 2015, 25th May, 2015, 6th August, 2015,
24th September, 2015, 3rd November, 2015, 18th December, 2015, 8th February, 2016 and 31st March, 2016.
*VHYK+VTTP[[LLZ"
L*VHYKOHZJVUZ[P[\[LK[OLMVSSV^PUN+VTTP[[LLZVM,PYLJ[VYZ"
H )\KP[+VTTP[[LL"
L)\KP[+VTTP[[LLVM[OL+VTWHU`PZJVUZ[P[\[LKPUSPUL^P[O[OLWYV]PZPVUZVM;LJ[PVUVM[OL+VTWHUPLZ)J[YLHK^P[OYL]PZLK
Clause 49 of the Listing Agreement and Regulation 18 of the SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.
L+VTTP[[LLJVTWYPZLZVMTLTILYZ^OVWVZZLZZUHUJPHSHUKHJJV\U[PUNL_WLY[PZLL_WVZ\YLL+VTTP[[LLJVUZPZ[ZVM[OLMVSSV^PUN
5 Non-Executive Independent Directors:
40
L5HUHNPUN,PYLJ[VY+OPLM.PUHUJPHS7MJLY1U[LYUHS)\KP[VYZ
Cost Auditors, Statutory Auditors and other Senior Managers
H[[LUK[OL)\KP[+VTTP[[LL5LL[PUNZHZPU]P[LLZL+VTWHU`
Secretary acts as the Secretary to the Audit Committee.
L YVSL VM [OL )\KP[ +VTTP[[LL V^Z KPYLJ[S` MYVT [OL *VHYK
of Directors overview function on corporate governance, which
holds the Management accountable to the Board and the Board
HJJV\U[HISL [V [OL Z[HRLOVSKLYZ L [LYT VM YLMLYLUJL VM [OL
Audit Committee broadly includes acting as a catalyst, in helping
[OL VYNHUPaH[PVU HJOPL]L P[Z VIQLJ[P]LZ L )\KP[ +VTTP[[LLpZ
WYPTHY` YVSL PZ [V YL]PL^ [OL +VTWHU`pZ UHUJPHS Z[H[LTLU[Z
PU[LYUHS UHUJPHS YLWVY[PUN WYVJLZZ PU[LYUHS UHUJPHS JVU[YVSZ
the audit process, adequacy, reliability and effectiveness of
the internal control systems, vigil mechanism, related party
transactions, monitoring process for compliance with laws and
regulations and the code of conduct.
L)\KP[+VTTP[[LLHSZVYL]PL^Z[OLYLWVY[ZHUKWYLZLU[H[PVUZ
and the responses thereto by the management.
?OPZ[SL*SV^LYWVSPJ`"
L+VTWHU`ILSPL]LZPU[OLJVUK\J[VM[OLHMMHPYZVMP[ZJVUZ[P[\LU[Z
in a fair and transparent manner by adoption of highest standards of
professionalism, honesty, integrity and ethical behaviour. Towards
this end, the Company has implemented a Whistle Blower Policy,
with a view to provide a mechanism for employees and Directors
of the Company to approach the Ethics Committee or Chairman
of the Audit Committee of the Company to report instances of
violations of laws, rules and regulations, unethical behavior,
actual or suspected, fraud or violation of the Companys code
VM JVUK\J[ VY L[OPJZ WVSPJ` L ]PNPS TLJOHUPZT HSZV WYV]PKLZ
adequate safeguards against victimisation of persons who use
such mechanisms and also to ensure direct access to the Ethics
Committee or Chairman of the Audit Committee in appropriate
VYL_JLW[PVUHSJHZLZL*VHYKOHZHWWYV]LK[OL^OPZ[SLISV^LY
policy which has been uploaded on the Companys website:
http://teknowits.com/bombaydyeing/Corporategov.aspx
L+VTWHU`OHKYLJLP]LKHJVTWSHPU[\UKLY[OL?OPZ[SL*SV^LY
Policy. Based on their investigations, the Ethics Committee
reported that the complaint by an employee against another
employee lacked evidence and were based on apprehensions and
did not proceed further in the matter.
I 6VTPUH[PVUHUK:LT\ULYH[PVU+VTTP[[LL"
1U[LYUHS)\KP[HUK+VU[YVS"
M/s. Ernst & Young, Chartered Accountants were appointed as
the Internal Auditors of the Company with effect from 1st January,
2016. M/s. Aneja & Associates, Chartered Accountants, ceased
to be the Internal Auditors of the Company with effect from
31st December, 2015.
LPYPU[LYUHSH\KP[WSHUHUKYLT\ULYH[PVUHYLHWWYV]LKI`[OL
)\KP[+VTTP[[LLLYLWVY[ZHUKUKPUNZVM[OLPU[LYUHSH\KP[VY
and the internal control system are periodically reviewed by the
Audit Committee.
L+OHPYTHUVM[OL+VTTP[[LL5Y;58HSPHPZHU1UKLWLUKLU[
Director.
During the year under review, the Committee met 5 times on 24th April,
2015, 25th May, 2015, 6th August, 2015, 24th September, 2015 and
31st March, 2016.
Details of attendance of each member at the Nomination and
Remuneration Committee Meetings are as follows:Name
Mr. S. M. Palia
Mr. Ishaat Hussain
Mr. Nusli N. Wadia
Mr. R. A. Shah
Mr. S. Ragothaman
Mr. A. K. Hirjee
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
41
LIYVHK[LYTZVMYLMLYLUJLVM[OL6VTPUH[PVUHUK:LT\ULYH[PVU+VTTP[[LLPUJS\KLZ"
s
;L[\WHUKJVTWVZP[PVUVM[OL*VHYKP[ZJVTTP[[LLZHUK[OLSLHKLYZOPW[LHTVM[OL+VTWHU`JVTWYPZPUNVM3L`5HUHNLYPHS8LYZVUULS
q358rHZKLULK\UKLY[OL+VTWHUPLZ)J[HUK-_LJ\[P]L<LHTHZKLULKI`[OL+VTTP[[LL
s
-]HS\H[PVUVMWLYMVYTHUJLVM[OL*VHYKP[Z+VTTP[[LLZHUK1UKP]PK\HS,PYLJ[VYZ
s
:LT\ULYH[PVUMVY,PYLJ[VYZ358Z-_LJ\[P]L<LHTHUKV[OLYLTWSV`LLZ
s
7]LYZPNO[VM[OLMHTPSPHYPZH[PVUWYVNYHTTLVM,PYLJ[VYZ
s
7]LYZPNO[VM[OL0:WOPSVZVWO`0:HUKWLVWSLZ[YH[LN`HUKRL`0:WYHJ[PJLZ
:LT\ULYH[PVU8VSPJ`"
Payment of remuneration to the Managing Director is governed by the Agreement executed between him and the Company. His Agreement
PZHWWYV]LKI`[OL*VHYKHUKI`[OLZOHYLOVSKLYZ0PZYLT\ULYH[PVUZ[Y\J[\YLJVTWYPZLZZHSHY`PUJLU[P]LIVU\ZILUL[ZWLYX\PZP[LZHUK
HSSV^HUJLZJVU[YPI\[PVU[VWYV]PKLU[M\UKZ\WLYHUU\H[PVUHUKNYH[\P[`L6VU-_LJ\[P]L,PYLJ[VYZKVUV[KYH^HU`YLT\ULYH[PVUMYVT
[OL+VTWHU`V[OLY[OHUZP[[PUNMLLZHUKZ\JOJVTTPZZPVUHZTH`ILKL[LYTPULKI`[OL*VHYKMYVT[PTL[V[PTLLYLT\ULYH[PVUWVSPJ`HZ
approved by the Board is placed on the website of the Company: http://teknowits.com/bombaydyeing/Corporategov.aspx
(i)
Details of remuneration paid to the Managing Director during the year 2015-16 are given below: (in `)
Name
*Mr. Jehangir. N. Wadia, Managing Director
;HSHY`
5,48,16,455
*LUL[Z
46,21,960
*VU\Z
60,89,071
Total
6,55,27,486
Mr. Jehangir N. Wadias term as Managing Director of the Company ended on 31st March, 2016. On the recommendation of the
Nomination and Remuneration Committee, the Board at its Meeting held on 31st March, 2016 re-appointed Mr. Jehangir N. Wadia as
Managing Director for a further period of 5 years from 1st April, 2016 to 31st March, 2021, subject to shareholders approval in the ensuing
Annual General Meeting.
**
Includes the Companys contribution to Provident and Superannuation Funds, Leave Travel Allowance claimed during the year for
UHUJPHS`LHYZHNNYLNH[PUN` 18,00,000/-, but excludes gratuity.
*** Bonus pertains to Financial Year 2014-15 paid during Financial Year 2015-16.
Notes:
L)NYLLTLU[^P[O[OL5HUHNPUN,PYLJ[VYPZMVYHWLYPVKVM]L`LHYZ-P[OLYWHY[`[V[OL)NYLLTLU[PZLU[P[SLK[V[LYTPUH[L[OL
Agreement by giving not less than six calendar months prior notice in writing to the other party; provided that the Company shall be
entitled to terminate the incumbents employment at any time by payment to him of six months salary in lieu of such notice.
2.
Excess Remuneration payable to Mr. Jehangir N. Wadia, Managing Director, is subject to the approval of the Central Government, in
respect of which the Company has made an application and approval is awaited.
(ii) Details of payments made to Non-Executive Directors during the year 2015-16 and the number of shares held by them are given below: ;P[[PUN.LLZPU`
Board Meeting
Committee Meeting
<V[HS6VVM;OHYLZOLSKPU[OL+VTWHU`
as on 31st5HYJO
4,40,000
2,20,000
Mr. R. A. Shah*
3,80,000
3,20,000
7,100
Mr. S. S. Kelkar
4,40,000
4,35,000
50,000
Mr. S. Ragothaman
3,80,000
5,60,000
35,000
Mr. A. K. Hirjee
3,80,000
3,55,000
3,800
Mr. S. M. Palia
4,40,000
6,40,000
Nil
4,40,000
5,00,000
Nil
3,80,000
1,40,000
12,19,418
3,80,000
1,40,000
Nil
36,60,000
33,10,000
Nil
42
LIYVHK[LYTZVMYLMLYLUJLVM[OLZHPK+VTTP[[LLHYLHZMVSSV^Z"
i.
To look into the redressal of grievances such as transfer of
security, non-receipt of annual reports, dividends, interest
etc. of various stakeholders of the Company viz. shareholders,
KLILU[\YLOVSKLYZ_LKKLWVZP[OVSKLYZHUKV[OLYZLJ\YP[`
holders.
ii. To approve and monitor transfers, transmission, splitting,
consolidation, dematerialisation, rematerialisation of
securities issued by the Company and issue of duplicate
ZLJ\YP[`JLY[PJH[LZ
iii. To carry out the functions as envisaged under the Code of
Conduct to regulate, monitor and report trading by insiders
and code of practices and procedures for fair disclosures
of unpublished price sensitive information adopted by the
Company in terms of Regulations 8(1), 9(1) and 9(2) of SEBI
(Prohibition of Insider Trading) Regulations, 2015.
8LYMVYTHUJL-]HS\H[PVU"
Pursuant to the provisions of the Companies Act, 2013 (Act)
and the Corporate Governance requirements as prescribed by
Securities and Exchange Board of India (SEBI) under revised
Clause 49 of the Equity Listing Agreement (Clause 49) and/
or various applicable regulations of SEBI (Listing Obligations
And Disclosure Requirements) Regulations, 2015, the Board of
Directors (Board) has carried out an annual evaluation of its own
performance, and that of its committees and individual directors.
L*VHYKH[P[ZTLL[PUNOLSKVUth7J[VILYHUKHZTVKPLK
by the Board at its meeting held on 28th May, 2013, had delegated
the powers to approve transfer and transmission of securities,
[V PZZ\L JVUZVSPKH[LKUL^ JLY[PJH[LZ L[J Z\IQLJ[ [V JLY[HPU
guidelines and limits laid down, severally to the Managing Director,
+OPLM .PUHUJPHS 7MJLY HUK [OL +VTWHU` ;LJYL[HY` )JJVYKPUNS`
the transfer and transmission of shares, issue of consolidated/
UL^JLY[PJH[LZL[J\W[V[OLSPTP[ZSHPKKV^UHYLHWWYV]LKVUH
weekly basis by any of the above delegatees. As per Rule 6(2)(a)
of the Companies (Share Capital and Debentures) Rules, 2014 the
K\WSPJH[LZOHYLJLY[PJH[LPZ[VILPZZ\LKPUSPL\VM[OVZLSVZ[VY
destroyed, only with the prior consent of the Board or Committee
[OLYLVM,\WSPJH[LZOHYLJLY[PJH[LZHYL[OLYLMVYLPZZ\LK^P[O[OL
prior approval of the Committee.
6HTLHUKKLZPNUH[PVUVM+VTWSPHUJL7MJLY"
Company Secretary
Mr. J. C. Bham (upto 31st May, 2015)
Mr. K. Subharaman (from 1st June, 2015 upto 30th April, 2016)
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
169
Nil
M +VYWVYH[L;VJPHS:LZWVUZPIPSP[`+;:+VTTP[[LL"
Nil
L+;:+VTTP[[LLJVUZPZ[ZVM[OLMVSSV^PUN,PYLJ[VYZ"
Mr. Ness N. Wadia (Chairman)
Mr. S. M. Palia
Mr. S. S. Kelkar
Dr. (Mrs.) Sheela Bhide
L+;:+VTTP[[LL^PSS"
L.PUHUJL+VTTP[[LLJVUZPZ[ZVM[OLMVSSV^PUN,PYLJ[VYZ"
Mr. S. S. Kelkar
Mr. A. K. Hirjee
Mr. S. Ragothaman
Mr. Ness N. Wadia
Mr. S. M. Palia
L[LYTZVMYLMLYLUJLVM[OL.PUHUJL+VTTP[[LLJV]LYP4PHIPSP[`
Management related to raising of Rupee/Foreign Currency
resources both short-term and long-term to meet the funding
requirements of the various operating divisions and approval
of terms and conditions covering the borrowing programme;
(ii) Foreign Exchange Management involving review of the
Companys forex policy and providing direction to the Treasury
Department with regard to maintenance and covering of
open positions; (iii) Investment Management related to the
employment of temporary and/or long-term surpluses of the
Company in various securities whether or not traded on the stock
exchanges like units of Mutual Funds and providing direction to
the Treasury Department on the composition and the turnover
of the investment portfolio from time to time and (iv) To open
HUKVWLYH[L]HYPV\ZIHURHJJV\U[ZVM[OL+VTWHU`L5HUHNPUN
,PYLJ[VYHUK+OPLM.PUHUJPHS7MJLYHYLWLYTHULU[PU]P[LLZ
(i)
L -_LJ\[P]L+VTTP[[LL"
L-_LJ\[P]L+VTTP[[LLJVUZPZ[ZVM[OLMVSSV^PUN,PYLJ[VYZ"
Mr. Nusli N. Wadia (Chairman)
Mr. S. Ragothaman
Mr. S. M. Palia
Mr. S. S. Kelkar
Mr. A. K. Hirjee
Mr. Ishaat Hussain
L 5HUHNPUN ,PYLJ[VY +OPLM .PUHUJPHS 7MJLY HUK
Mr. Ness N. Wadia are permanent invitees.
Broad terms of reference of the Executive Committee include
(i) review with the Business Heads of the operating divisions from
time to time of business plans and strategies, (ii) addressing issues
related to capital expenditure and (iii) review of performance of
the business of the Company.
review the existing CSR Policy from time to time and the
activities to be undertaken by the Company towards CSR
activities;
L+VTWHU`;LJYL[HY`HJ[ZHZ[OL;LJYL[HY`VM[OL+VTTP[[LL
43
LKL[HPSZVM+;:JVU[YPI\[PVUOHZILLUWYV]PKLKPU)UUL_\YLo0o
to the Directors Report.
N 1UKLWLUKLU[,PYLJ[VYZ5LL[PUN"
During the year under review, the Independent Directors met on
31st March, 2016, inter-alia, to discuss:
s
-]HS\H[PVUVM[OLWLYMVYTHUJLVM[OL*VHYKHZH^OVSL#
s
s
<V HZZLZZ [OL X\HSP[` X\HU[P[` HUK [PTLSPULZ VM V^ VM
information between the Company management and the
Board that is necessary for the Board to effectively and
reasonably perform their duties.
44
O .HTPSPHYPZH[PVUWYVNYHTTLMVY1UKLWLUKLU[,PYLJ[VYZ"
L *VHYK TLTILYZ HYL WYV]PKLK ^P[O ULJLZZHY` KVJ\TLU[Z
brochures and reports to enable them to familiarise with the
Companys procedures and practices. Periodic presentations are
made at the Board and Board Committee Meetings, on business
and performance updates of the Company, business strategy and
risks involved.
/LULYHS*VK`5LL[PUNZ"
(a) Location and time where last three AGMs were held:
Date & Time
6th August, 2015
at 3.45 p.m.
8th August, 2014
at 3.45 p.m.
4VJH[PVU
Birla Matushri Sabhagar, 19,
Marine Lines, Mumbai - 400020
Yashwantrao Chavan Center
Auditorium, General Jagannathrao
Bhonsle Marg, Nariman Point,
Mumbai 400021
;WLJPHS:LZVS\[PVUZ8HZZLK
(i) To pay remuneration to Mr. Jehangir N. Wadia
(DIN: 00088831), Managing Director of the Company.
(i) To increase the borrowing limits.
(ii) To create charges, mortgages and hypothecation and to sell, lease or
otherwise dispose of the part or whole of the undertaking.
PPP <VYLUL^HUKHJJLW[_LKKLWVZP[ZMYVT[OLW\ISPJ
Purpose
09.07.2015
09.11.2015
No of Votes
During the conduct of the Postal Ballot, the Company had in terms
of Clause 35B of the Listing Agreement provided e-voting facility
to its shareholders to cast their votes electronically. Postal ballot
forms and business reply envelopes were sent to shareholders
to enable them to cast their vote in writing on the postal ballot.
L+VTWHU`HSZVW\ISPZOLKHUV[PJLPU[OLUL^ZWHWLYKLJSHYPUN
the details of completion of despatch and other requirements as
mandated under the Companies Act, 2013 and applicable Rules.
L +VTWHU` OHK HWWVPU[LK 5Y 8 6 8HYPRO VM 5Z 8HYPRO
Associates, Practising Company Secretary, as the Scrutinizer for
conducting the Postal Ballot process in a fair and transparent
THUULY L ZJY\[PUPaLY Z\ITP[[LK OPZ YLWVY[ [V [OL +OHPYTHU
after completion of the scrutiny and the results of voting by
posting ballot were then announced by the Authorised Director.
L]V[PUNYLZ\S[Z^LYLZLU[[V[OL;[VJR-_JOHUNLZHUKKPZWSH`LK
VU[OL+VTWHU`pZ^LIZP[LLKH[LVMKLJSHYH[PVUVM[OLYLZ\S[Z
by the Company is deemed to be the date of passing of the
resolutions.
[V[V[HS
votes
[V[V[HS
votes
11,55,94,660
91.11%
1,12,82,120
8.89%
11,05,78,234
88.96%
1,37,18,616
11.04%
7[OLYKPZJSVZ\YLZ"
(a) Related Party Transactions
)SS[YHUZHJ[PVUZLU[LYLKPU[V^P[O:LSH[LK8HY[PLZHZKLULK\UKLY
the Companies Act, 2013 and Clause 49 of the Listing Agreement
and/or Regulation 23 of SEBI (Listing Obligations and Disclosures)
:LN\SH[PVUK\YPUN[OLUHUJPHS`LHY^LYLPU[OLVYKPUHY`
course of business and on an arms length pricing basis and do not
attract the provisions of Section 188 of the Companies Act, 2013.
LYL ^LYL UV TH[LYPHSS` ZPNUPJHU[ [YHUZHJ[PVUZ ^P[O YLSH[LK
WHY[PLZK\YPUN[OLUHUJPHS`LHY^OPJO^LYLPUJVUPJ[^P[O[OL
interest of the Company. Suitable disclosure as required by the
Accounting Standards (AS18) has been made in the notes to the
Financial Statements.
As required under clause 49(VIII) of the Listing Agreement and/or
Regulation 23(1) of SEBI (Listing Obligations and
Disclosures) Regulations, 2015, with Stock Exchanges,
the Company has formulated a policy on Related Party
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
45
5LHUZVMJVTT\UPJH[PVU"
(i) Quarterly results:
L\UH\KP[LKX\HY[LYS`YLZ\S[ZHYLHUUV\UJLK^P[OPUMVY[`
]LKH`ZMYVT[OLLUKVM[OLX\HY[LYHUK[OLH\KP[LKHUU\HS
results within sixty days from the end of the last quarter
as stipulated under the Listing Agreement with the Stock
Exchanges.
(ii) Newspapers wherein results normally published:
Financial Express (all editions) & Mumbai Lakshadeep
(Mumbai).
(iii) Any Website where displayed:
www.bombaydyeing.com
P] ?OL[OLY?LIZP[LHSZVKPZWSH`ZVMJPHSUL^ZYLSLHZLZ"
Yes. Financial Results, distribution of shareholding, notices
and press releases, if any, are displayed on the website.
(v) Whether presentations made to institutional investors or to
analysts:
No presentations were made to institutional investors or to
analysts.
(vi) Management Discussion & Analysis Report:
L5HUHNLTLU[,PZJ\ZZPVU)UHS`ZPZ:LWVY[PZHUUL_LK[V
the Directors Report and forms a part of the Annual Report.
/LULYHS;OHYLOVSKLYPUMVYTH[PVU"
L+VTWHU`OHZMVYT\SH[LKH:PZR)ZZLZZTLU[5HUHNLTLU[
Policy, duly reviewed by the Audit Committee, establishing the
WOPSVZVWO` VM [OL +VTWHU` [V^HYKZ YPZR PKLU[PJH[PVU HUHS`ZPZ
HUK WYPVYP[PaH[PVU VM YPZRZ KL]LSVWTLU[ VM YPZR TP[PNH[PVU WSHUZ
HUKYLWVY[PUN[V[OL*VHYKWLYPVKPJHSS`L8VSPJ`PZHWWSPJHISL
[V HSS [OL M\UJ[PVUZ HUK KLWHY[TLU[Z VM [OL +VTWHU` L :PZR
Assessment & Management Policy is implemented through the
LZ[HISPZOTLU[ VM [OL :PZR 5HUHNLTLU[ +VTTP[[LL HJJV\U[HISL
[V[OL*VHYKVM,PYLJ[VYZL+VTTP[[LLPUJS\KLZ[OL5HUHNPUN
,PYLJ[VY o5,p +OPLM .PUHUJPHS 7MJLY +OPLM -_LJ\[P]L 7MJLYZ
internal auditor of the Company and such other members as
PUJS\KLK I` [OL *VHYK5, L 5, PZ [OL +OHPYTHU VM [OL
Committee.
K +-7+.7+LY[PJH[PVU"
Mr. Jehangir N. Wadia, Managing Director and Mr. Puspamitra Das,
+OPLM.PUHUJPHS7MJLYOH]LJLY[PLK[V[OL*VHYKPUHJJVYKHUJL
with Regulation 17(8) of SEBI (Listing Obligations and Disclosures)
:LN\SH[PVUZ WLY[HPUPUN [V +-7+.7 JLY[PJH[PVU MVY [OL
UHUJPHS`LHYLUKLKst March, 2016.
L *VHYK VM ,PYLJ[VYZ OHZ HKVW[LK [OL +VKL VM -[OPJZ HUK
Business Principles for Non-Executive Directors as also for the
employees including Whole-Time Directors and other members of
;LUPVY5HUHNLTLU[LZHPK+VKLOHZILLUJVTT\UPJH[LK[VHSS
[OL,PYLJ[VYZHUKTLTILYZVM[OL;LUPVY5HUHNLTLU[L+VKL
has also been posted on the Companys website: http://teknowits.
com/bombaydyeing/Corporategov.aspx
(f)
L+VTWHU`OHZHKVW[LKH+VKLVM+VUK\J[[VYLN\SH[LTVUP[VY
and report trading by insiders and code of practices and procedures
for fair disclosures of unpublished price sensitive information in
terms of Regulations 8(1), 9(1) and 9(2) of SEBI (Prohibition of
Insider Trading) Regulations, 2015.
All the Directors, employees at senior management level and
other employees who could have access to unpublished price
sensitive information of the Company are governed by this code.
a.
b.
46
(j)
Transfers
Transmissions
Total
(i)
+VYWVYH[LVMJLVM:<)"
Karvy Computershare Private Limited
(Unit : Bombay Dyeing)
Karvy Selenium Tower B, Plot 31-32,Gachibowli,
Financial District, Nanakramguda, Hyderabad,
Telangana 500032, India
Telephone number: +91 40 6716 2222
Fax number: +91 40 2342 0814
E-mail: einward.ris@karvy.com
Website: www.karvycomputershare.com
(l)
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
(n) (i)
No. of Shareholders
1 - 50
47
Share Holding
31,200
30.49
7,90,028
0.38
51 - 100
15,229
14.88
13,69,294
0.66
101 - 250
23,265
22.74
44,13,836
2.14
251 - 500
15,751
15.39
65,28,612
3.16
501 - 1000
8,386
8.19
67,86,983
3.29
1001 - 5000
6,979
6.82
1,52,89,617
7.40
1,527
1.49
17,13,56,530
82.97
1,02,337
100.00
20,65,34,900
100.00
Total
st
Promoter Group *
Insurance Companies
Financial Institutions/Banks
Mutual Funds
FIIs
GDR Holders
Others
Total
*Promoter Group comprises:
Mr. Nusli N. Wadia and his relatives in terms of Section 2(77)
of the Companies Act, 2013, Mr. Jehangir N. Wadia, Mr. Ness
N. Wadia, Ms. Diana Claire Wadia, Ms. Elizabeth Anne Guhl,
Estate of Smt. Bachoobai Woronzow, Jer Mavis Settlement
No. II, Diana Claire Wadia Trust, Nusli Neville Wadia Trust,
N. N. Wadia Administrator of Estate of Late E. F. Dinshaw,
6V^YVZQLL ?HKPH ;VUZ 4PTP[LK L *VTIH` *\YTHO
Trading Corporation Limited, National Peroxide Limited,
;\UV^LY1U]LZ[TLU[Z<L_[PSLZ8][4[K?HKPH<LJOUV
Engineering Services Ltd., Ben Nevis Investments Limited,
5HJYVS 1U]LZ[TLU[Z 4PTP[LK 6LZZ]PSSL <YHKPUN 8YP]H[L
Limited, Lotus Viniyog Private Limited, Go Airlines India Ltd.,
Go Investment & Trading Pvt. Ltd., Nidhivan Investment &
Trading Co. Pvt. Ltd., Heera Holdings & Leasing Pvt. Ltd.
and Sahara Investments Pvt. Ltd. and their subsidiaries and
associates.
(o) In terms of Section 205C of the Companies Act, 1956, read
with the Investor Education and Protection Fund (Awareness
and Protection of Investor) Rules, 2001, (which are still
applicable as the relevant sections under the Companies
)J[HYL`L[[VILUV[PLK[OL+VTWHU`OHZJYLKP[LK
during the year ended 31st March, 2016, an aggregate amount
of ` 11.99 lakhs to the Investor Education and Protection
Fund (IEPF).
No. of Shares
10,81,22,618
52.35
87,17,970
4.22
7,46,337
0.36
67,83,837
3.28
1,13,05,964
5.47
27,79,425
1.35
6,80,78,749
32.97
20,65,34,900
100.00
48
VZLTLTILYZ^OV^HU[[OLHIV]LKVJ\TLU[ZPUWO`ZPJHS
form, must indicate their option by sending a letter or an
email to the Registrars address or at the specially created
e-mail ID einward@karvy.com giving their Registered Folio
Number and/or DP Id/Client ID.
6VU5HUKH[VY`:LX\PYLTLU[Z"
H 7MJLVM[OL+OHPYTHUVM[OL*VHYK"
(q) /YLLU1UP[PH[P]L"
I ;OHYLOVSKLYYPNO[ZtM\YUPZOPUNVMOHSM`LHYS`YLZ\S[Z"
L+VTWHU`pZOHSM`LHYS`YLZ\S[ZHYLW\ISPZOLKPU[OLUL^ZWHWLYZ
and also posted on its website and are, therefore, not sent to the
shareholders. However, the Company furnishes the quarterly and
half yearly results on receipt of a request from the shareholders.
J =UX\HSPLK.PUHUJPHS;[H[LTLU[Z"
LYLHYLUVX\HSPJH[PVUZPU[OL)\KP[VYpZ:LWVY[VU[OLHJJV\U[Z
for the year 2015-16.
Mumbai, 27th May, 2016.
DECLARATION
As provided under Regulation 17 of SEBI (Listing Obligations And Disclosure Requirements), Regulations, 2015 with the Stock Exchanges, this is
[VJVUYT[OH[HSS[OL5LTILYZVM[OL*VHYKHUK[OL;LUPVY5HUHNLTLU[OH]LHMYTLKJVTWSPHUJL^P[O[OL+VKLVM+VUK\J[MVY[OL`LHYLUKLK
31st March, 2016.
.VYL*VTIH`,`LPUN5MN+V4[K
Jehangir N. Wadia
Managing Director
Mumbai, 27th May, 2016.
)\KP[VYpZ+LY[PJH[LVU+VYWVYH[L/V]LYUHUJL
To the Members of
L*VTIH`,`LPUNHUK5HU\MHJ[\YPUN+VTWHU`4PTP[LK
?L OH]L L_HTPULK [OL JVTWSPHUJL VM JVUKP[PVUZ VM JVYWVYH[L NV]LYUHUJL I` L *VTIH` ,`LPUN HUK 5HU\MHJ[\YPUN +VTWHU` 4PTP[LK q[OL
Company) for the year ended 31st March 2016, as stipulated in Clause 49 of the listing agreement of the Company with relevant stock exchanges
for the period April 1, 2015 to November 30, 2015 and as per Regulations 17 to 27, clauses (b) to (i) of sub-regulation (2) of regulation 46 and
paragraphs C, D and E of Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations
2015 for the period December 1, 2015 to March 31, 2016.
LJVTWSPHUJLVMJVUKP[PVUZVMJVYWVYH[LNV]LYUHUJLPZ[OLYLZWVUZPIPSP[`VM[OLTHUHNLTLU[7\YL_HTPUH[PVU^HZSPTP[LK[VHYL]PL^VM[OL
procedures and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of corporate governance. It is
ULP[OLYHUH\KP[UVYHUL_WYLZZPVUVMVWPUPVUVU[OLUHUJPHSZ[H[LTLU[ZVM[OL+VTWHU`
In our opinion and to the best of our information and according to the explanations given to us, and the representations made by the management,
we certify that the Company has complied with the conditions of corporate governance as stipulated in Clause 49 of the listing agreement and
Regulations 17 to 27, clauses (b) to (i) of sub-regulation (2) of regulation 46 and paragraphs C, D and E of Schedule V of the Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, as applicable.
?LM\Y[OLYZ[H[L[OH[Z\JOJVTWSPHUJLPZULP[OLYHUHZZ\YHUJLHZ[V[OLM\[\YL]PHIPSP[`VM[OL+VTWHU`UVY[OLLMJPLUJ`VYLMMLJ[P]LULZZ^P[O
which management has conducted the affairs of the Company.
For KALYANIWALLA & MISTRY
Chartered Accountants
Registration No. 104607W
Place: Mumbai
Date: May 27, 2016
ERMIN K. IRANI
Partner
Membership No.: 35646
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
49
ANNEXURE -1
Months High
8YPJL`
BSE
Apr. 2015
NSE
BSE
No. of shares
Traded
NSE
BSE
75.90
75.85
62.55
62.75
No. of Trades
NSE
BSE
7248575 19979030
NSE
75894
132774
Value
`PUSHJZ
BSE
NSE
5083.35
14023.92
May. 2015
72.85
73.50
63.20
63.20
4512608
12308170
33775
88892
3058.71
8378.37
Jun. 2015
74.20
74.20
58.55
58.55
5832804
15977426
36352
96643
3914.48
10719.45
Jul. 2015
91.70
91.75
71.65
71.70
15885525 46988604
91639
244040
12546.73
37369.72
Aug. 2015
94.00
92.45
57.00
57.00
11645247 38884310
74579
243189
9178.44
30764.40
Sep. 2015
66.85
66.60
58.85
58.80
3936423
11152919
24598
94119
2450.65
6943.71
Oct. 2015
72.20
72.35
63.10
63.10
5375694
17729532
34283
113051
3698.87
12191.31
Nov. 2015
68.40
68.25
59.40
59.25
4274878
12932276
29451
67742
2771.68
8390.70
Dec. 2015
68.25
68.40
59.60
59.60
4841862
17362265
32267
91490
3133.00
10880.77
Jan. 2016
67.20
67.20
50.90
50.60
4476743
12947891
24932
72888
2677.17
7851.81
Feb. 2016
54.40
54.40
39.05
39.00
3429667
8318386
24614
56725
1538.34
3736.32
Mar. 2016
48.40
48.50
40.30
40.15
3474485
8478478
20545
50887
1588.12
3871.14
ANNEXURE 2
35000
100
90
30000
SENSEX
25000
70
60
20000
50
15000
40
30
10000
20
5000
10
0
SENSEX
BDMC
80
Directors' Report
50
LWLYJLU[HNLPUJYLHZLPUYLT\ULYH[PVUVMLHJO,PYLJ[VY+OPLM.PUHUJPHS7MJLYHUK+VTWHU`;LJYL[HY`K\YPUN[OLUHUJPHS`LHY
YH[PVVM[OLYLT\ULYH[PVUVMLHJO,PYLJ[VY[V[OLTLKPHUYLT\ULYH[PVUVM[OLLTWSV`LLZVM[OL+VTWHU`MVY[OLUHUJPHS`LHYHUK
the comparison of remuneration of each Key Managerial Personnel (KMP) against the performance of the Company are as under:
Remuneration of
,PYLJ[VY358MVY
.PUHUJPHSALHY
`PUJYVYL
PUJYLHZLPU
Remuneration in
[OL.PUHUJPHSALHY
Ratio of
YLT\ULYH[PVUVMLHJO
,PYLJ[VY[VTLKPHU
remuneration of
LTWSV`LLZ
xxx
xxx
6.55
11%
118.06
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
10
xxx
xxx
Sl.
No.
6HTLVM,PYLJ[VY358HUK,LZPNUH[PVU
11
5Y>PUVK0PYHU+OPLM.PUHUJPHS7MJLY
xxx
12
xxx
**
**
13
xxx
***
***
,L[HPSZUV[NP]LUMVY5Y>PUVK0PYHU+OPLM.PUHUJPHS7MJLY3L`5HUHNLYPHS8LYZVUULSHZOL^HZLTWSV`LKVUS`MVYWHY[VM[OLUHUJPJHS
year 2015-16 i.e. from 15th may 2015 to 2nd November 2015.
,L[HPSZUV[NP]LUMVY5Y2HPYHQ+*OHT+VTWHU`;LJYL[HY`3L`5HUHNLYPHS8LYZVUULSHZOL^HZLTWSV`LLKVUS`MVYWHY[VM[OLUHUJPHS
year 2015-16 i.e. upto 31st May, 2015.
,L[HPSZUV[NP]LUMVY5Y3;\IOHYHTHU+VTWHU`;LJYL[HY`3L`5HUHNLYPHS8LYZVUULSHZOL^HZLTWSV`LKVUS`MVYWHY[VM[OLUHUJPHS
year 2015-16 i.e. he joined with effect from 1st June, 2015.
PP
H
>HYPH[PVUZ PU [OL THYRL[ JHWP[HSPZH[PVU VM [OL +VTWHU` " L THYRL[ JHWP[HSPaH[PVU HZ VU st March, 2016, was ` 982.07 crore
(` 1319.76 crore as on 31st March, 2015).
b)
Price Earnings ratio of the Company was ` -11.51 as at 31st March, 2016 and was ` 53.70 as at 31st March, 2015.
c)
Percentage increase over decrease in the market quotations of the shares of the Company in comparison to the rate at which the
+VTWHU`JHTLV\[^P[O[OLSHZ[W\ISPJVMMLYLL_HJ[KH[LVM[OLSPZ[PUNVM[OL+VTWHU`pZZOHYLZPZUV[H]HPSHISLI\[[OLZOHYLZ^LYL
SPZ[LKILMVYL[OL`LHY!;PUJL[OLSPZ[PUNVM[OLZOHYLZ[OL+VTWHU`OHZUV[THKLHU`W\ISPJVMMLYLTHYRL[JHWP[HSPZH[PVUHZVU
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
51
31st March, 2016, was ` 982.07 crore and the closing price of the same at NSE on 31st March, 2016, was ` 47.55 per equity share of the
face value of ` 2/- each.
]P )]LYHNLWLYJLU[HNLPUJYLHZLTHKLPU[OLZHSHYPLZVMLTWSV`LLZV[OLY[OHU[OLTHUHNLYPHSWLYZVUULSPU[OLSHZ[UHUJPHS`LHYPL
^OLYLHZ[OLPUJYLHZLPU[OLTHUHNLYPHSYLT\ULYH[PVUMVY[OLZHTLUHUJPHS`LHY"LYL^LYLUVL_JLW[PVUHSJPYJ\TZ[HUJLZMVYPUJYLHZLPU
Managerial Remuneration as Managerial & Non Managerial levels were provided with similar increases.
vii
Comparison of Remuneration of each Key Managerial Personnel(s) and All Key Managerial Personnel(s) together against the performance of
the Company:
Mr. Jehangir N. Wadia
6.55
Aggregate remuneration of Key mangerial personnel (KMP) in Financial Year 2015-16 (` In crore)
1884.39
Revenue (` In crore)
Remuneration of KMPs (as % of revenue)
0.35%
8YV[4VZZILMVYL<H_8*<` In crore)
(85.24)
]PPP LRL`WHYHTL[LYZMVYHU`]HYPHISLJVTWVULU[VMYLT\ULYH[PVUH]HPSLKI`[OLKPYLJ[VYZ8LYMVYTHUJL*VU\Z
P_ LYH[PVVM[OLYLT\ULYH[PVUVM[OLOPNOLZ[WHPKKPYLJ[VY[V[OH[VM[OLLTWSV`LLZ^OVHYLUV[KPYLJ[VYZI\[YLJLP]LYLT\ULYH[PVUPUL_JLZZ
VM[OLOPNOLZ[WHPKKPYLJ[VYK\YPUN[OL`LHY"LYLHYLUVZ\JOJHZLZ^OLYLPUHU`-TWSV`LLYLJLP]LK:LT\ULYH[PVUPUL_JLZZVM[OLOPNOLZ[
paid Director.
_
)MYTH[PVU[OH[[OLYLT\ULYH[PVUPZHZWLY[OLYLT\ULYH[PVUWVSPJ`VM[OLJVTWHU`"1[PZOLYLI`HMYTLK[OH[[OL:LT\ULYH[PVUWHPKPZHZ
per the Remuneration policy of the Company.
On behalf of the Board of Directors
Place: Mumbai
Date: 27th May, 2016.
NUSLI N.WADIA
Chairman
Directors' Report
52
J L;LJ\YP[PLZHUK-_JOHUNL*VHYKVM1UKPH1ZZ\LVM+HWP[HS
and Disclosure Requirements) Regulations, 2009 and
amendments from time to time;
K L;LJ\YP[PLZHUK-_JOHUNL*VHYKVM1UKPH-TWSV`LL;[VJR
Option Scheme and Employee Stock Purchase Scheme)
/\PKLSPULZ !!! HUK L ;LJ\YP[PLZ HUK -_JOHUNL *VHYK
VM 1UKPH ;OHYL *HZLK -TWSV`LL *LUL[Z :LN\SH[PVUZ
2014;(Not applicable to the Company during the audit
period)
L L;LJ\YP[PLZHUK-_JOHUNL*VHYKVM1UKPH1ZZ\LHUK4PZ[PUN
of Debt Securities) Regulations,2008;(Not applicable to the
Company during the audit period)
]P 7[OLYSH^ZHWWSPJHISLZWLJPJHSS`[V[OL+VTWHU`UHTLS`"
1.
2.
3.
P L+VTWHUPLZ)J[[OL)J[HUK[OLY\SLZTHKL[OLYL\UKLY#
4.
5.
6.
7.
We have examined the books, papers, minute books, forms and returns
SLK HUK V[OLY YLJVYKZ THKL H]HPSHISL [V \Z HUK THPU[HPULK I` [OL
+VTWHU`MVY[OLUHUJPHS`LHYLUKLKVUst March, 2016 according to
the provisions of:
8.
9.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
PP L4PZ[PUN)NYLLTLU[ZLU[LYLKPU[VI`[OL+VTWHU`^P[O
BSE Limited and National Stock Exchange of India Limited
read with the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.
During the period under review, the Company has complied with
the provisions of the Act, Rules, Regulations, Guidelines, standards
etc. mentioned above subject to the following observations:
H L+VTWHU`OHZYL]PZLK[OLYLT\ULYH[PVUWH`HISL[V[OL
Managing Director of the Company with effect from 1st April,
2015 to 31st March, 2016 which is subject to the approval of
the Central Government.
During the period under review, the Company has an unspent
amount of ` 1.19 crores against the amount of ` 1.49 crores to be
spent during the year towards Corporate Social Responsibility.
ANNEXURE A
To,
L5LTILYZ
L*VTIH`,`LPUNHUK5HU\MHJ[\YPUN+VTWHU`4PTP[LK
Our report of even date is to be read along with this letter.
1.
2.
4.
L ;LJYL[HYPHS )\KP[ YLWVY[ PZ ULP[OLY HU HZZ\YHUJL HZ [V [OL
M\[\YL]PHIPSP[`VM[OL+VTWHU`UVYVM[OLLMJHJ`VYLMMLJ[P]LULZZ
with which the management has conducted the affairs of the
Company.
L *VHYK VM ,PYLJ[VYZ VM [OL +VTWHU` PZ K\S` JVUZ[P[\[LK ^P[O
proper balance of Executive Directors, Non-Executive Directors
HUK1UKLWLUKLU[,PYLJ[VYZLJOHUNLZPU[OLJVTWVZP[PVUVM[OL
Board of Directors that took place during the period under review
were carried out in compliance with the provisions of the Act.
Adequate notice was given to all directors to schedule the Board
Meetings, agenda and detailed notes on agenda were sent at
least seven days in advance, and a system exists for seeking and
VI[HPUPUN M\Y[OLY PUMVYTH[PVU HUK JSHYPJH[PVUZ VU [OL HNLUKH
items before the meeting and for meaningful participation at the
meeting.
Decisions at the Board Meetings were taken unanimously.
We further report that there are adequate systems and processes
in the Company commensurate with the size and operations of the
Company to monitor and ensure compliance with applicable laws,
rules, regulations and guidelines.
We further report that during the audit period the Company had
following event which had bearing on the Companys affairs in
pursuance of the above referred laws, rules, regulations, standards,
guidelines etc.:
Place: Mumbai
Date : 27th May, 2016
P. N. Parikh
Partner
FCS No: 327 CP No: 1228
PZ:LWVY[PZ[VILYLHK^P[OV\YSL[[LYVML]LUKH[L^OPJOPZHUUL_LK
as Annexure A and Forms an integral part of this report.
53
.VY8HYPRO)ZZVJPH[LZ
Company Secretaries
Place: Mumbai
Date : 27th May, 2016
P. N. Parikh
Partner
FCS No: 327 CP No: 1228
Directors' Report
54
)IYPLMV\[SPULVM[OL+VTWHU`pZ+;:8VSPJ`PUJS\KPUNV]LY]PL^VMWYVQLJ[ZVYWYVNYHTTLZWYVWVZLK[VIL\UKLY[HRLUHUKHYLMLYLUJL[V
[OL^LISPUR[V[OL+;:WVSPJ`HUKWYVQLJ[ZVYWYVNYHTTLZ"
L+VTWHU`OHZ\UKLY[HRLUWYVQLJ[ZSPRLJVU[YPI\[PVU[V^HYKZYLZ[VYH[PVUVMOVZWP[HSZMVYJOPSKYLUKVUH[PVUVM[L_[PSLWYVK\J[Z[VHYLHZ
HMMLJ[LKHK]LYZLS`K\L[VUH[\YHSJHSHTP[PLZSPRLVVKZSHUKZSPKLZLHY[OX\HRLL[J8SLHZLYLMLY[OL+VYWVYH[L;VJPHS:LZWVUZPIPSP[`8VSPJ`VU
the Companys website, http://teknowits.com/bombaydyeing/Corporategov.aspx
L+VTWVZP[PVUVM[OL+;:+VTTP[[LL"
Mr. Ness N. Wadia (Chairman), Mr. S. M. Palia, Mr. S. S. Kelkar and Dr. (Mrs.) Sheela Bhide.
8YLZJYPILK+;:L_WLUKP[\YL[^VWLYJLU[VM[OL)TV\U[HZPUP[LTHIV]L"-_WLUKP[\YLMVY[OLUHUJPHS`LHY
amounts to ` 1.39 crore.
,L[HPSZVM+;:ZWLUKK\YPUN[OLUHUJPHSALHY"
(a) Total amount spent during the Financial Year 2015-16: ` 0.31 crore.
(b) Amount unspent, if any: ` 1.08 crore (Refer Note 6)
J 5HUULYPU^OPJO[OL)TV\U[ZWLU[K\YPUN[OLUHUJPHS`LHYPZKL[HPSLKILSV^"
(1)
Sr.
No.
(2)
CSR Project
or Activity
PKLU[PLK
(3)
Sector in
which the
project is
covered
(4)
Projects or
programmes
[1] Local area
or other
[2] Specify
the state and
district where
projects or
programmes
were
undertaken
1.
Donations
of textiles
products for
Tamil Nadu
VVKZYLSPLM
operations
Promoting
preventive
health care
State: Tamil
Nadu
(5)
Amount outlay
(Budget)
projects or
programmes
wise (`)
0.31 crore
(6)
Amount spent on the projects
or programmes
Direct
expenditure
on programme
or projects (`)
0.31 crore
(7)
Cumulative
expenditure
up to the
reporting
period (`)
(8)
Amount
spent: directly
or through
implementing
agency (`)
0.31 crore
` 0.31 crore
spent through
an NGO.
Overheads (`)
Nil
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
55
1UJHZL[OL+VTWHU`OHZMHPSLK[VZWLUK[^VWLYJLU[VM[OLH]LYHNLUL[WYV[VM[OLSHZ[[OYLLUHUJPHS`LHYZVYHU`WHY[[OLYLVM[OL
+VTWHU`ZOHSSWYV]PKL[OLYLHZVUZMVYUV[ZWLUKPUN[OLHTV\U[PUP[Z*VHYKYLWVY["
L+VTWHU`OHKZWLU[` 79.53 lakh towards Nepal Earth Quake Relief during May 2015, which could not be accounted for CSR activity since
the money was not spent in India as required under the Companies Act, 2013, read with the Companies (Corporate Social Responsibility
Policy) Rules, 2014.
7.
L+;:+VTTP[[LLVM[OL+VTWHU`OLYLI`JVUYTZ[OH[[OLPTWSLTLU[H[PVUHUKTVUP[VYPUNVM+;:8VSPJ`PZPUJVTWSPHUJL^P[O+;:
objectives and policy of the Company.
For and behalf of the
Corporate Social Responsibility Committee of
L*VTIH`,`LPUNHUK5MN+V4PTP[LK
Ness N. Wadia
Chairman
Corporate Social responsibility Committee
.VYL*VTIH`,`LPUNHUK5MN+V4PTP[LK
Place: Mumbai
Date: May 27, 2016
Nusli N. Wadia
Chairman
Auditors' Report
56
?LILSPL]L[OH[[OLH\KP[L]PKLUJL^LOH]LVI[HPULKPZZ\MJPLU[HUK
HWWYVWYPH[L [V WYV]PKL H IHZPZ MVY V\Y H\KP[ VWPUPVU VU [OL UHUJPHS
statements.
Opinion
In our opinion and to the best of our information and according to the
L_WSHUH[PVUZNP]LU[V\Z[OLHMVYLZHPKZ[HUKHSVULUHUJPHSZ[H[LTLU[Z
give the information required by the Act in the manner so required and
give a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as
H[5HYJOHUKP[ZSVZZHUKP[ZJHZOV^ZMVY[OL`LHYLUKLKVU
that date.
Emphasis of Matter
We draw attention to:
6V[L[V[OLUHUJPHSZ[H[LTLU[ZYLNHYKPUN[OLYLT\ULYH[PVU
paid to the Managing Director in excess of the limits prescribed
under Section 197 read with Schedule V of the Act by
`JYVYLK\L[VPUHKLX\HJ`VMWYV[ZLL_JLZZYLT\ULYH[PVU
is subject to the approval of the Central Government for which an
application has been made.
7\YVWPUPVUPZUV[TVKPLKPUYLZWLJ[VM[OLHIV]LTH[[LYZ
:LWVY[VU7[OLY4LNHSHUK:LN\SH[VY`:LX\PYLTLU[Z
1)
2)
J L*HSHUJL;OLL[[OL;[H[LTLU[VM8YV[HUK4VZZHUK+HZO
Flow Statement dealt with by this report are in agreement
with the books of account.
K 1UV\YVWPUPVU[OLHMVYLZHPKZ[HUKHSVULUHUJPHSZ[H[LTLU[Z
JVTWS` ^P[O [OL )JJV\U[PUN ;[HUKHYKZ ZWLJPLK \UKLY
section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014.
(e) On the basis of written representations received from the
directors as on March 31, 2016 and taken on record by the
*VHYKVM,PYLJ[VYZUVULVM[OLKPYLJ[VYZPZKPZX\HSPLKHZVU
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
M ?P[O YLZWLJ[ [V [OL HKLX\HJ` VM [OL PU[LYUHS UHUJPHS
JVU[YVSZ V]LY UHUJPHS YLWVY[PUN VM [OL JVTWHU` HUK [OL
operating effectiveness of such controls, refer to our separate
report in Annexure B; and,
PP
P
57
.VY3HS`HUP^HSSH5PZ[Y`
Chartered Accountants
Firm Registration No. 104607W
Place: Mumbai
Date: 27th May, 2016
ERMIN K. IRANI
Partner
Membership No.: 35646
I LKPZJYLWHUJPLZUV[PJLKVU]LYPJH[PVUIL[^LLUWO`ZPJHS
stock and book records were not material in relation to the
operations of the Company and the same have been properly
dealt with in the books of account.
4.
5.
6.
7.
Auditors' Report
58
No.
1
Nature of dues
3
4
L+\Z[VTZ)J[!
Interest on customs
duty
L +LU[YHS -_JPZL )J[ Excise Duty
1944
Excise Duty
Amount
`PUJYVYLZ
0.09
8LYPVK[V^OPJO[OL .VY\T^OLYLKPZW\[LPZWLUKPUN
amount relates
1999-2000
Deputy Commissioner Appeal - II
2.33
4.00
0.03
2008-09
2008-09
2007-08
0.02
0.95
0.16
0.62
Excise Duty
0.03
Excise Duty
0.09
Service Tax
0.76
0.20
2.16
8.
!
L+VTWHU`OHZUV[YHPZLKTVUL`ZI`^H`VMPUP[PHSW\ISPJVMMLY
VYM\Y[OLYW\ISPJVMMLYPUJS\KPUNKLI[PUZ[Y\TLU[ZLTVUPLZ
raised by way of term loans were applied for the purposes for
which those were raised.
10. Based upon the audit procedures performed by us, to the best of
our knowledge and belief and according to the information and
explanations given to us by the Management, no fraud by the
+VTWHU`VYMYH\KVU[OL+VTWHU`I`P[ZVMJLYZVYLTWSV`LLOHZ
been noticed or reported during the year.
11. According to the information and explanations give to us and
based on our examination of the records of the Company, the
managerial remuneration paid or provided to the Managing
Director is in excess of the limits prescribed under Section 197
read with Schedule V of the Act by ` 4.40 crore, due to inadequacy
VMWYV[ZL+VTWHU`OHZTHKLHUHWWSPJH[PVU[V[OL+LU[YHS
Government for the excess remuneration in accordance with the
requisite approvals mandated by the provisions of Section 197
read with Schedule V to the Act.
Place: Mumbai
Date: 27th May, 2016
ERMIN K. IRANI
Partner
Membership No.: 35646
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
59
?LILSPL]L[OH[[OLH\KP[L]PKLUJL^LOH]LVI[HPULKPZZ\MJPLU[HUK
appropriate to provide a basis for our audit opinion on the Companys
PU[LYUHSUHUJPHSJVU[YVSZZ`Z[LTV]LYUHUJPHSYLWVY[PUN
5LHUPUNVM1U[LYUHS.PUHUJPHS+VU[YVSZV]LY.PUHUJPHS:LWVY[PUN
)JVTWHU`pZPU[LYUHSUHUJPHSJVU[YVSV]LYUHUJPHSYLWVY[PUNPZHWYVJLZZ
designed to provide reasonable assurance regarding the reliability of
UHUJPHS YLWVY[PUN HUK [OL WYLWHYH[PVU VM UHUJPHS Z[H[LTLU[Z MVY
external purposes in accordance with generally accepted accounting
WYPUJPWSLZ ) JVTWHU`pZ PU[LYUHS UHUJPHS JVU[YVS V]LY UHUJPHS
reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly
YLLJ[[OL[YHUZHJ[PVUZHUKKPZWVZP[PVUZVM[OLHZZL[ZVM[OLJVTWHU`#
(2) provide reasonable assurance that transactions are recorded as
ULJLZZHY`[VWLYTP[WYLWHYH[PVUVMUHUJPHSZ[H[LTLU[ZPUHJJVYKHUJL
with generally accepted accounting principles, and that receipts and
expenditures of the company are being made only in accordance with
authorisations of management and directors of the company; and (3)
provide reasonable assurance regarding prevention or timely detection
of unauthorised acquisition, use, or disposition of the companys assets
[OH[JV\SKOH]LHTH[LYPHSLMMLJ[VU[OLUHUJPHSZ[H[LTLU[Z
1UOLYLU[ 4PTP[H[PVUZ VM 1U[LYUHS .PUHUJPHS +VU[YVSZ V]LY .PUHUJPHS
Reporting
*LJH\ZLVM[OLPUOLYLU[SPTP[H[PVUZVMPU[LYUHSUHUJPHSJVU[YVSZV]LY
UHUJPHS YLWVY[PUN PUJS\KPUN [OL WVZZPIPSP[` VM JVSS\ZPVU VY PTWYVWLY
management override of controls, material misstatements due to
error or fraud may occur and not be detected. Also, projections of any
L]HS\H[PVUVM[OLPU[LYUHSUHUJPHSJVU[YVSZV]LYUHUJPHSYLWVY[PUN[V
M\[\YLWLYPVKZHYLZ\IQLJ[[V[OLYPZR[OH[[OLPU[LYUHSUHUJPHSJVU[YVS
V]LY UHUJPHS YLWVY[PUN TH` ILJVTL PUHKLX\H[L ILJH\ZL VM JOHUNLZ
in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
Opinion
In our opinion, to the best of our information and according to the
explanations given to us, the Company has, in all material respects, an
HKLX\H[LPU[LYUHSUHUJPHSJVU[YVSZZ`Z[LTV]LYUHUJPHSYLWVY[PUNHUK
Z\JOPU[LYUHSUHUJPHSJVU[YVSZV]LYUHUJPHSYLWVY[PUN^LYLVWLYH[PUN
effectively as at March 31, 2016, based on the internal control over
UHUJPHSYLWVY[PUNJYP[LYPHLZ[HISPZOLKI`[OL+VTWHU`JVUZPKLYPUN[OL
essential components of internal control stated in the Guidance Note
on Audit of Internal Financial Controls over Financial Reporting issued
by the Institute of Chartered Accountants of India.
.VY3HS`HUP^HSSH5PZ[Y`
Chartered Accountants
Firm Registration No. 104607W
Place: Mumbai
Date: 27th May, 2016
ERMIN K. IRANI
Partner
Membership No.: 35646
60
BALANCE SHEET as at 31
st
March, 2016
Note
EQUITY AND LIABILITIES
Shareholders funds
Share capital ...............................................................................................................
Reserves and surplus ..................................................................................................
As at
31st5HYJO
` in crores
As at
31st March, 2015
2
3
41.31
1,270.81
1,312.12
41.31
1,530.97
1,572.28
Long-term borrowings.................................................................................................
Other long-term liabilities ..........................................................................................
Long-term provisions ..................................................................................................
4
5
6
1,215.07
10.44
14.92
1,240.43
906.03
6.85
13.60
926.48
Current liabilities
Short-term borrowings................................................................................................
Trade payables ............................................................................................................
Other current liabilities ..............................................................................................
Short-term provisions .................................................................................................
7
8
9
10
824.07
296.49
678.82
41.52
1,840.90
4,393.45
430.50
480.75
540.21
42.47
1,493.93
3,992.69
11
12
588.44
1.87
72.41
55.96
34.86
1,812.82
2,566.36
834.65
3.31
74.59
55.96
37.25
1,190.74
2,196.50
679.87
238.15
113.77
143.11
429.46
222.73
1,827.09
4,393.45
710.27
264.79
68.42
221.01
531.70
1,796.19
3,992.69
6VUJ\YYLU[SPHIPSP[PLZ
TOTAL
ASSETS
6VUJ\YYLU[HZZL[Z
Fixed assets
Tangible assets ...........................................................................................................
Intangible assets ........................................................................................................
Capital work-in-progress .............................................................................................
Incidental expenditure relating to construction / development ...............................
Non-current investments ...........................................................................................
Long-term loans and advances...................................................................................
Other non current assets ............................................................................................
13
14
15
16
Current assets
Inventories ..................................................................................................................
Trade receivables ........................................................................................................
Cash and bank balances .............................................................................................
Short-term loans and advances..................................................................................
Other current assets ...................................................................................................
Assets held for sale .....................................................................................................
17
18
19
20
21
22
TOTAL
;PNUPJHU[)JJV\U[PUN8VSPJPLZ
LHJJVTWHU`PUNUV[LZHYLHUPU[LNYHSWHY[VM[OLZ[HUKHSVULUHUJPHSZ[H[LTLU[Z
As per our report attached
FOR KALYANIWALLA & MISTRY
Chartered Accountants
Firm Registration No.104607W
NUSLI N. WADIA
Ermin K. Irani
Partner
Membership No.35646
PUSPAMITRA DAS
JEHANGIR N. WADIA
;PNUH[\YLZ[V[OL*HSHUJL;OLL[HUK6V[LZ[VUHUJPHSZ[H[LTLU[Z
For and on behalf of the Board of Directors
Chairman
R.A. SHAH
S. S. KELKAR
Managing Director
S. RAGOTHAMAN
A. K. HIRJEE
CFO
S. M. PALIA
SHEELA BHIDE
ISHAAT HUSSAIN
NESS N. WADIA
Mumbai, 27th May, 2016
Directors
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
st
61
March, 2016
` in crores
Note
2014-15
INCOME
Revenue from operations ..........................................................................................
1,944.34
2,511.84
99.33
133.57
1,845.01
2,378.27
39.38
54.91
1,884.39
2,433.18
897.96
1,270.59
206.75
187.87
23
24
25
26
(152.08)
(400.59)
-TWSV`LLILUL[ZL_WLUZL.......................................................................................
27
100.47
90.02
28
282.64
227.22
29
33.91
46.82
13.26
599.98
963.05
1,969.63
2,398.24
(85.24)
34.94
10.38
4VZZ8YV[MVY[OL`LHY ......................................................................................
24.56
- Basic
(4.13)
1.19
- Diluted
(4.13)
1.19
1TWHPYTLU[SVZZVU_LKHZZL[Z ...............................................................................
Other expenses ..........................................................................................................
30
4VZZ8YV[ILMVYL[H_........................................................................................
Tax expense:
Earnings per equity share of nominal value ` 2 each (Refer Note No.47)
;PNUPJHU[)JJV\U[PUN8VSPJPLZ
LHJJVTWHU`PUNUV[LZHYLHUPU[LNYHSWHY[VM[OLZ[HUKHSVULUHUJPHSZ[H[LTLU[Z
As per our report attached
FOR KALYANIWALLA & MISTRY
Chartered Accountants
Firm Registration No.104607W
Ermin K. Irani
Partner
Membership No.35646
Mumbai, 27th May, 2016
;PNUH[\YLZ[V[OL;[H[LTLU[VM8YV[4VZZHUK6V[LZ[VUHUJPHSZ[H[LTLU[Z
For and on behalf of the Board of Directors
NUSLI N. WADIA
Chairman
R.A. SHAH
S. S. KELKAR
JEHANGIR N. WADIA Managing Director
S. RAGOTHAMAN
A. K. HIRJEE
Directors
PUSPAMITRA DAS
CFO
S. M. PALIA
SHEELA BHIDE
ISHAAT HUSSAIN
NESS N. WADIA
Mumbai, 27th May, 2016
62
st
March, 2016
` in crores
2014-15
A. +);0.47?.:7578-:)<16/)+<1>1<1-;"
NET PROFIT BEFORE TAX ...............................................................................................
(85.24)
34.94
33.91
46.82
13.26
(9.94)
2.61
8.55
14.58
(1.78)
(3.59)
Interest income...............................................................................................................
(29.56)
(16.07)
8YV[VUZHSLVM_LKHZZL[ZUL[ ..................................................................................
(4.45)
(16.18)
1U[LYLZ[HUKV[OLYUHUJLJOHYNLZ ................................................................................
282.64
227.22
194.13
303.59
Inventories ......................................................................................................................
(133.46)
164.13
26.43
(78.36)
(493.57)
(192.17)
(181.78)
(165.19)
152.56
26.57
Provisions ........................................................................................................................
9.20
(9.41)
(426.49)
49.16
(8.75)
(4.17)
(435.24)
44.99
8\YJOHZLVM_LKHZZL[Z ..................................................................................................
(7.38)
(25.72)
8YVJLLKZMYVTZHSLVM_LKHZZL[Z ..................................................................................
5.59
29.71
(167.76)
(64.35)
218.46
13.65
(28.43)
(140.96)
59.62
86.82
(67.96)
(0.22)
29.93
14.02
42.07
(87.05)
Adjusted for
Changes in
(a)
B. +);0.47?.:7516>-;<16/)+<1>1<1-;"
(b)
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
st
63
2014-15
C. +);0.47?.:75.16)6+16/)+<1>1<1-;"
Proceeds from borrowings...............................................................................................
634.63
1,110.53
(348.87)
(877.98)
8YVJLLKZMYVT_LKKLWVZP[Z1U[LYJVYWVYH[LIVYYV^PUNZ ...........................................
767.59
255.75
:LWH`TLU[VMTH[\YLK_LKKLWVZP[Z1U[LYJVYWVYH[LIVYYV^PUNZ .............................
(498.72)
(253.68)
150.12
50.99
1U[LYLZ[HUKV[OLYUHUJLJOHYNLZWHPK ........................................................................
(281.01)
(236.33)
(19.89)
(19.27)
403.85
30.01
10.68
(12.05)
8.07
20.12
18.75
8.07
6-<16+:-);-,-+:-);-16+);0)6,+);0-=1>)4-6<; ..............................
10.68
(12.05)
13.03
3.67
Cheques on hand.............................................................................................................
5.62
4.23
0.10
0.17
18.75
8.07
(c)
6-<16+:-);-,-+:-);-16+);0)6,+);0-=1>)4-6<; .............................. (a + b + c)
Notes :
1. Cash and Cash Equivalents comprises of :
2. .PN\YLZPUIYHJRL[ZHYLV\[V^ZKLK\J[PVUZ
3. 8YL]PV\Z`LHYZN\YLZOH]LILLUYLNYV\WLK^OLYLULJLZZHY`
As per our report attached
FOR KALYANIWALLA & MISTRY
Chartered Accountants
Firm Registration No.104607W
NUSLI N. WADIA
Chairman
JEHANGIR N. WADIA
Managing Director
Ermin K. Irani
Partner
Membership No.35646
PUSPAMITRA DAS
CFO
Directors
64
67<-67";1/61.1+)6<)++7=6<16/8741+1-;
the market value and cost of that part of freehold land is credited
[VYL]HS\H[PVUYLZLY]LHUKPZYLSLHZLK[V[OL;[H[LTLU[VM8YV[
and Loss in the proportion of revenue recognized under the
percentage of completion method on entering into agreements /
contracts for sale.
LMYLLOVSKSHUKPUJS\KPUN.;1LU[P[SLTLU[[OLYLVU\UKLY:LHS
-Z[H[L ,L]LSVWTLU[ WSHUULK MVY ZHSL PZ JVU]LY[LK MYVT _LK
HZZL[ZPU[VZ[VJRPU[YHKLH[THYRL[]HS\LLKPMMLYLUJLIL[^LLU
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
65
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
(e) Depreciation
,LWYLJPH[PVUVU_LKHZZL[ZV[OLY[OHUM\YUP[\YL_[\YLZHUK
motor vehicles is provided on the straight line method, prorata to
the period of use, over the useful life as prescribed in Schedule II
to the Companies Act, 2013 or as estimated by the management,
^OPJOL]LYPZSV^LY,LWYLJPH[PVUVUM\YUP[\YL_[\YLZHUKTV[VY
vehicles is provided on the written down value method over the
\ZLM\SSPMLHZWYLZJYPILKPU;JOLK\SL11LHZZL[JH[LNVYPLZHUK
their useful lives over which depreciation is provided are as under:
Asset
Leasehold land
Buildings
7MJLLX\PWTLU[
Computers
Plant & machinery
.\YUP[\YL_[\YLZ
Assets of retail shops
including leasehold
improvements
5V]HISLZP[LVMJLZ
Motor vehicles
Computer software
Technical know-how
(h) Investments
(i)
Useful Life
lease period namely 95 years
30 to 60 years
5 years
3 to 6 years
15 to 25 years
10 years
6 years
10 years
8 years
5 years
10 years
Impairment
LJHYY`PUNHTV\U[ZVM[OL+VTWHU`pZ[HUNPISLHUKPU[HUNPISL
assets are reviewed at each balance sheet date to determine
whether there is any indication of impairment. If any such
indication exists, the assets recoverable amounts are estimated
in order to determine the extent of impairment loss, if any. An
impairment loss is recognised whenever the carrying amount of
HU HZZL[ L_JLLKZ P[Z YLJV]LYHISL HTV\U[ L PTWHPYTLU[ SVZZ
PM HU` PZ YLJVNUPaLK PU [OL ;[H[LTLU[ VM 8YV[ HUK 4VZZ PU [OL
period in which impairment takes place.
Where an impairment loss subsequently reverses, the carrying
amount of the asset is increased to the revised estimate of its
recoverable amount, however subject to the increased carrying
amount not exceeding the carrying amount that would have
Inventories
(i)
(f)
66
S -TWSV`LLZILUL[Z
P ;OVY[[LYTLTWSV`LLILUL[Z"
PP 8VZ[LTWSV`TLU[ILUL[Z"
;OVY[[LYTLTWSV`LLILUL[ZHYLYLJVNUPZLKHZL_WLUZLH[
[OL \UKPZJV\U[LK HTV\U[ PU [OL ;[H[LTLU[ VM 8YV[ HUK
Loss of the year in which the related service is rendered.
1 ,LULK+VU[YPI\[PVU8SHU"
a)
b)
Superannuation
L+VTWHU`LU[LYZPU[VKLYP]H[P]LUHUJPHSPUZ[Y\TLU[Z[VOLKNL
MVYLPNU J\YYLUJ` YPZR VM YT JVTTP[TLU[Z HUK OPNOS` WYVIHISL
MVYLJHZ[ [YHUZHJ[PVUZ L TL[OVK VM YLJVNUPaPUN [OL YLZ\S[PUN
gain or loss depends on whether the derivative is designated
as a hedging instrument, and if so, the nature of the item being
OLKNLK L JHYY`PUN HTV\U[ VM H KLYP]H[P]L KLZPNUH[LK HZ H
OLKNL PZ WYLZLU[LK HZ H J\YYLU[ HZZL[ VY SPHIPSP[` L JVTWHU`
does not enter into any derivatives for trading purposes.
Cash Flow Hedge
Forward exchange contracts entered into to hedge foreign
J\YYLUJ` YPZRZ VM YT JVTTP[TLU[Z VY OPNOS` WYVIHISL MVYLJHZ[
[YHUZHJ[PVUZ [OH[ X\HSPM` HZ JHZO V^ OLKNLZ HYL YLJVYKLK PU
accordance with the principles of hedge accounting enunciated in
Accounting Standard (AS) 30 Financial Instruments Recognition
HUK 5LHZ\YLTLU[ L NHPUZ VY SVZZLZ VU KLZPNUH[LK OLKNPUN
instruments that qualify as effective hedges is recorded in the
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
67
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
ILUL[Z^PSSILYLX\PYLK[VZL[[SL[OLVISPNH[PVU
<LYTPUH[PVU ILUL[Z MHSSPUN K\L TVYL [OHU
twelve months after the balance sheet date are
provided on the basis of an actuarial valuation by
an independent actuary as at the year-end using
Project Unit Credit Method.
11 ,LULK*LUL[8SHU"
a)
Gratuity
L+VTWHU`OHZHUVISPNH[PVU[V^HYKZNYH[\P[`
H KLULK ILUL[ YL[PYLTLU[ WSHU JV]LYPUN
LSPNPISL LTWSV`LLZ L WSHU WYV]PKLZ H S\TW
sum payment to vested employees at retirement,
death while in employment or on termination of
employment, of an amount equivalent to 15 days
or 30 days salary payable for each completed
year of service. Vesting occurs upon completion
VM ]L `LHYZ VM ZLY]PJL L +VU[YPI\[PVUZ HYL
made to the Gratuity Fund set up as irrevocable
[Y\Z[I`[OL+VTWHU`L+VTWHU`HJJV\U[ZMVY
NYH[\P[`ILUL[ZWH`HISLPUM\[\YLVU[OLIHZPZVM
an actuarial valuation by an independent actuary
at the year end, which is calculated using Project
Unit Credit Method. Actuarial gains and losses
which comprise experience adjustment and the
effect of change in actuarial assumptions are
YLJVNUPZLKPU[OL;[H[LTLU[VM8YV[HUK4VZZ
I 7[OLYSVUN[LYTLTWSV`LLILUL[ZJVTWLUZH[LK
absences
L+VTWHU`WYV]PKLZMVYLUJHZOTLU[VMSLH]LVY
SLH]L^P[OWH`Z\IQLJ[[VJLY[HPUY\SLZLSLH]L
accumulated to the credit of the employees up
to Dec 31, 2014 is available for carry forward and
LUJHZOTLU[VUZLWHYH[PVUL+VTWHU`THRLZ
provision for such compensated absences based
on an actuarial valuation by an independent
actuary at the year end, which is calculated using
Project Unit Credit Method. Actuarial gains and
losses which comprise experience adjustment
and the effect of change in actuarial assumptions
HYL YLJVNUPZLK PU [OL ;[H[LTLU[ VM 8YV[ HUK
Loss.
Post 2014, leave earned during the year has to
be utilized by the employees within the following
`LHY;\JOSLH]LPZHZOVY[[LYTLTWSV`LLILUL[
and is provided at the undiscounted amount in
the period in which it is incurred.
J
<LYTPUH[PVU*LUL[Z
L+VTWHU`WYV]PKLZMVYJVTWLUZH[PVUWH`HISL
HZWHY[VM[LYTPUH[PVUILUL[Z^OLUP[PZWYVIHISL
[OH[HUV\[V^VMYLZV\YJLZLTIVK`PUNLJVUVTPJ
68
K\YPUN[OLWLYPVKL^LPNO[LKH]LYHNLU\TILYVMLX\P[`ZOHYLZ
outstanding during the period is adjusted for events, such as
bonus issue, bonus element in a rights issue and shares split that
have changed the number of equity shares outstanding, without a
corresponding change in resources. For the purpose of calculating
,PS\[LK -HYUPUNZ WLY ZOHYL [OL UL[ WYV[ VY SVZZ MVY [OL WLYPVK
attributable to the equity shareholders and the weighted average
number of shares outstanding during the period is adjusted for
the effects of all dilutive potential equity shares.
(p) Leases
Leases where the lessor effectively retains substantially all the
YPZRZHUKILUL[ZVMV^ULYZOPWVM[OLSLHZLKHZZL[ZHYLJSHZZPLK
as operating leases. Operating lease payments/receipts are
YLJVNUPZLKHZHUL_WLUZLPUJVTLPU[OL;[H[LTLU[VM8YV[HUK
Loss on a straight-line basis over the lease term.
(q) Government Grants
Grants in the nature of subsidies related to revenue are recognized
PU[OL;[H[LTLU[VM8YV[HUK4VZZV]LY[OLWLYPVKPU^OPJO[OL
corresponding costs are incurred and are recorded on accrual
basis.
(r)
(t)
Segment Reporting
L)JJV\U[PUN8VSPJPLZHKVW[LKMVYZLNTLU[YLWVY[PUNHYLPUSPUL
with the Accounting Policies of the Company. Segment assets
include all operating assets used by the business segments
HUK JVUZPZ[ WYPUJPWHSS` VM _LK HZZL[Z KLI[VYZ HUK PU]LU[VYPLZ
Segment liabilities include the operating liabilities that result
from the operating activities of the business. Segment assets
and liabilities that cannot be allocated between the segments
are shown as part of unallocated corporate assets and liabilities
respectively. Income/Expenses relating to the enterprise as whole
and not allocable on a reasonable basis to business segments
HYL YLLJ[LK HZ \UHSSVJH[LK JVYWVYH[L PUJVTLL_WLUZLZ
Inter-segment transfers are accounted at prevailing market prices.
*HZPJLHYUPUNZWLYZOHYLHYLJHSJ\SH[LKI`KP]PKPUN[OLUL[WYV[
or loss for the period attributable to the equity shareholders
by the weighted average number of equity shares outstanding
` in crores
2.
SHARE CAPITAL
As at
As at
st
st
31 5HYJO
31 March, 2015
AUTHORISED
25,00,00,000
50.00
50.00
1;;=-,;=*;+:1*-,)6,8)1,=8
20,65,34,900
41.31
41.31
41.31
41.31
H :LJVUJPSPH[PVUVM[OLZOHYLZV\[Z[HUKPUNH[[OLILNPUUPUNHUKH[[OLLUKVM[OLYLWVY[PUNWLYPVK
-X\P[`ZOHYLZ
As at 31st5HYJO
At the beginning of the period
Add: Shares issued during the year
Outstanding at the end of the period
Numbers
` PUJYVYLZ
Numbers
` in crores
206,534,900
41.31
206,534,900
41.31
206,534,900
41.31
206,534,900
41.31
I :PNO[ZWYLMLYLUJLZHUKYLZ[YPJ[PVUZH[[HJOLK[V-X\P[`ZOHYLZ
LJVTWHU`OHZVULJSHZZVMLX\P[`ZOHYLZOH]PUNHWHY]HS\LVM`WLYZOHYL-HJOZOHYLOVSKLYPZLSPNPISLMVYVUL]V[LWLYZOHYLOLSKL
dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in
case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after
distribution of all preferential amounts, in proportion to their shareholding.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
69
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
Numbers
Numbers
.HJL>HS\LVM
`2
OVSKPUN
N.W.Exports Limited
27,847,740
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4PTP[LK
25,783,320
;\UV^LY1U]LZ[TLU[HUK<L_[PSLZ8YP]H[L4PTP[LK
Face Value of
`2
% holding
13.48
27,771,550
13.45
12.48
29,644,375
14.35
22,139,783
10.72
21,681,037
10.50
75,770,843
36.68
79,096,962
38.30
K ;OHYLZYLZLY]LKMVYPZZ\L\UKLYVW[PVUZ
Pursuant to the Employee Stock Option Scheme (ESOS) approved by the shareholders on 13th August, 2002 and as further amended by the
shareholders on 07th August, 2012, the Company had granted 14,000 options, (70,000 options post sub-division) to the Ex-Joint Managing
Director of the Company at an exercise price of ` 528.25 (` 105.65 post sub-division) per share. As per the terms of the ESOS, each option is
exercisable for conversion into one equity share of the Company (Refer Note 45).
L 1UMVYTH[PVUYLNHYKPUNPZZ\LVMZOHYLZK\YPUNSHZ[]L`LHYZ
(i)
No shares were allotted pursuant to contracts without payment being received in cash.
As at
As at
31st5HYJO
Capital Reserve
As per last balance sheet
28.60
28.60
2.55
2.55
141.37
141.37
993.30
694.29
Less: Reversal of excess reserve consequent to reduction of base FSI on ICC land due to
handover of additional land to MCGM and MHADA under Integrated Development
Scheme
(238.07)
4LZZ":LSLHZLK[VZ[H[LTLU[VMWYV[HUKSVZZPUWYVWVY[PVUVMYL]LU\LYLJVNUPZLKVU
entering into agreements for sale
(163.86)
(351.24)
934.42
1,098.28
70
` in crores
3.
As at
As at
31st5HYJO
Investment Reserve
As per last balance sheet
1.31
1.31
(0.45)
(1.07)
0LKNPUN:LZLY]L)JJV\U[
As per last balance sheet
)KK".HPY]HS\LNHPUVUKLYP]H[P]LJVU[YHJ[ZKLZPNUH[LKHZJHZOV^OLKNLZ
1.37
0.62
0.92
155.81
155.81
103.50
100.37
(1.54)
General Reserve
As per last balance sheet
;\YWS\ZPUZ[H[LTLU[VMWYV[HUKSVZZ
Balance as per last balance sheet
Depreciation on assets where remaining useful life is nil, recognised in retained earnings
4LZZ)KK"4VZZ8YV[MVY[OL`LHY
(85.24)
24.56
18.26
123.39
(10.33)
(16.52)
(2.10)
(3.37)
Less: Appropriations
Proposed dividend
Dividend distribution tax
6L[Z\YWS\ZPU[OLZ[H[LTLU[VMWYV[HUKSVZZ
5.83
103.50
1,270.81
1,530.97
` in crores
476/<-:5*7::7?16/;
As at
As at
31st5HYJO
31st March,2015
;LJ\YLK
Term Loans
-
from banks
from others
1,098.53
858.51
39.37
47.50
1,137.90
906.01
=UZLJ\YLK
Fixed Deposits
77.17
0.02
1,215.07
906.03
H 6H[\YLVM;LJ\YP[`HUK[LYTZVMYLWH`TLU[VMZLJ\YLKIVYYV^PUN"
i)
ii)
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
71
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
vi) Term loans under consortium arrangement aggregating to ` 571.87 crores (2014-15 ` JYVYLZHYLZLJ\YLKI`YZ[WHYPWHZZ\
JOHYNL-ZJYV^VMYLJLP]HISLZVM7UL1++HUK<^V1++<V^LYH[;WYPUN5PSSZ,HKHYHUKYZ[WHYZPWHZZ\JOHYNLV]LYWHY[VMSHUKVM[OL
Company at Textile Mills at Mumbai and buildings and structures thereon. Repayable in quarterly instalments over a period of 4 to
5 years.
vii) Term loan amounting to ` 342.32 crores (2014-15 `6PSHYLZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLV]LYWHY[VMSHUKVM[OL+VTWHU`H[?VYSP
and building. Repayable over 2 to 4 years.
viii) Term loan amounting to ` 108 crores (2014-15 `6PSPZZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLVU+VTWHU`pZWSHU[HUKTHJOPULY`H[<L_[PSL
Processing Unit at Ranjangaon and the Polyester Division at Patalganga and second charge of portion of Spring Mills land & buildings
and structure thereon.Repayable in ten monthly instalments after initial moratorium of one year.
I <LYTZVMYLWH`TLU[VM\UZLJ\YLKIVYYV^PUN"
Fixed Deposits from shareholders and public are repayable over a period of 3 years from the date of deposit, maturing between July 2016 and
March 2019.
` in crores
7<0-:476/<-:541)*141<1-;
As at
As at
31st5HYJO
Trade payables
1.86
1.89
Deposits
8.58
4.96
10.44
6.85
` in crores
6.
As at
As at
31st5HYJO
8YV]PZPVUMVYLTWSV`LLILUL[Z
-
3.24
4.19
2.00
8YV]PZPVUMVY[LYTPUH[PVUILUL[Z:LMLY6V[LHUK
6.58
6.68
3.10
2.73
14.92
13.60
H 5V]LTLU[PUWYV]PZPVUZ
Provision for sales tax forms
Balance as at the beginning of the year
2.73
1.88
Additions
1.20
0.85
Amounts utilised
Balance as at the end of the year
(0.83)
3.10
2.73
72
` in crores
;07:<<-:5*7::7?16/;
As at
As at
31st5HYJO
;LJ\YLK
-
237.58
158.80
166.34
95.00
76.44
120.26
2.71
1.44
=UZLJ\YLK
Bills discounted with banks
Intercorporate deposits
341.00
55.00
824.07
430.50
H 6H[\YLVM;LJ\YP[`MVY;OVY[[LYTIVYYV^PUNZ
(i)
Working Capital loans of ` 237.58 crores (2014-15 ` 158.80 crores) and Buyers Credit amounting to ` 29.83 crores (2014-15 ` 23.81
crores) from banks under consortium arrangement is secured by hypothecation of present and future stocks, book debts and other
current assets on pari passu basis and a second charge over part of the land of the Company at Textile Mills at Mumbai admeasuring
89,819.85 square metres and plant and machinery and buildings thereon on pari passu basis.
(ii) Packing credit from bank of ` 110.84 crores (2014-15 ` 95 crores) is secured by way of registered mortgage on the immovable properties
in Wadia International Centre (Texturising Building and Hemming Building) located at Worli, Mumbai.
(iii) Packing credit from bank of ` 20.50 crores (2014-15 ` Nil) is secured by way of current assets of the company (excluding real estate) on
a pari passu basis with other member banks in consortium lead by SBI and second charge on the Textile mill land at Worli admeasuring
89,819.85 sq.m. and plant and machinery and Building on pari passu basis with other lenders in consortium.
(iv) Packing credit from bank of ` 35.00 crores (2014-15 `6PSPZZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLV]LYWHY[VM[OLSHUKVM[OL+VTWHU`H[
Textile Mills at Mumbai and plant and machinery, buildings and structures thereon.
(v) Buyers Credit aggregating ` 46.61 crores (2014-15 `!JYVYLZPZZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLVUSHUKVM[OL+VTWHU`H[;WYPUN
Mills at Mumbai admeasuring 36,617.13 square metres.
` in crores
8.
TRADE PAYABLES
Acceptances under suppliers line of credit
Dues to Micro and Small Enterprises (Refer Note (a) below)
Other Creditors
H
As at
As at
31st5HYJO
33.09
102.06
0.16
263.40
378.53
296.49
480.75
LK\LZWH`HISL[V5PJYVHUK;THSSLU[LYWYPZLZPZIHZLKVU[OLPUMVYTH[PVUH]HPSHISL^P[O[OL+VTWHU`HUK[HRLZPU[VHJJV\U[VUS`[OVZL
suppliers who have responded to the enquiries made by the Company for this purpose (Refer Note 44)
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
73
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
` in crores
9.
As at
As at
31st5HYJO
Fixed deposits
392.33
294.65
0.02
94.64
2.20
0.21
2.23
1.58
1.36
2.29
Unpaid dividends *
Advances from customers
1.05
1.03
24.83
30.11
Deposits
3.27
7.25
6.50
17.80
17.11
7.60
0.51
1.28
-TWSV`LLZILUL[ZWH`HISL
9.92
5.46
204.08
71.19
13.41
5.12
678.82
540.21
Accrued expenses
Other liabilities
a)* During the year, the Company has transferred an amount of ` 0.12 crore (2014-15 ` 0.14 crore) to the Investor Education & Protection Fund
\UKLYZLJ[PVUVM[OL+VTWHUPLZ)J[LYLPZUVHTV\U[K\LMVYWH`TLU[[V[OL.\UKHZH[[OL`LHYLUK
b)
Interest accrued and due on borrowings represents interest due as on Balance Sheet date but debited by the bank after the Balance Sheet
date.
` in crores
As at
As at
31st5HYJO
8YV]PZPVUMVYLTWSV`LLILUL[Z
Provision for compensated absences
5.30
1.50
8YV]PZPVUMVY[LYTPUH[PVUILUL[Z
-
0.47
0.59
0.58
0.43
6.79
2.08
Other provisions
Provision for litigation and disputes (Refer Note (a) below)
11.96
10.41
Provision for commercial and other matters (Refer Note (a) below)
10.34
10.09
Proposed dividend
10.33
16.52
2.10
3.37
34.73
40.39
41.52
42.47
74
` in crores
10. SHORT TERM PROVISIONS
As at
As at
31st5HYJO
H 5V]LTLU[PUWYV]PZPVUZ
-
10.41
8.86
1.55
1.55
Additions
Amounts utilised
11.96
10.41
10.09
22.70
1.90
5.20
Amounts utilised
(1.65)
(17.81)
10.34
10.09
/YVZZ*SVJR
,LWYLJPH[PVU
6L[*SVJR
118.35
9.35
109.00
109.00
Leasehold Land
19.02
18.42
0.60
1.97
0.04
1.78
0.23
0.37
17.05
148.78
3.02
73.33
78.47
37.25
1.92
15.35
23.82
54.65
111.53
15.56
2.01
0.12
1.46
15.99
13.11
1.08
0.12
1.40
12.67
3.32
2.45
Building *
Computer and data
processing units
7MJL-X\PWTLU[
118.35
7.35
0.27
0.01
0.75
6.86
6.82
0.60
0.01
0.73
6.68
0.18
0.53
982.49
3.67
9.49
269.18
707.49
416.91
24.47
8.36
131.54
301.48
406.01
565.58
45.45
0.91
0.03
2.95
43.38
30.22
3.92
0.03
2.14
31.97
11.41
15.23
4.82
0.18
0.48
4.52
0.89
0.42
0.29
1.02
3.50
3.93
Total
1,341.82
10.06
9.65
375.92
966.31
507.17
32.45
8.52
153.23
377.87
588.44
834.65
As at 31.03.2015
1,301.08
749.39
708.59
(0.06)
1,341.82
448.17
45.29
1.03
1.48
493.91
13.26
834.65
Motor Vehicles
6V[L"
H
LYLHYLUVHKQ\Z[TLU[Z[V[OL_LKHZZL[ZVUHJJV\U[VMIVYYV^PUNJVZ[HUKL_JOHUNLKPMMLYLUJLZK\YPUN[OL`LHY
I
)KQ\Z[TLU[ZYLWYLZLU[ZNYVZZISVJRHUKHJJ\T\SH[LKKLWYLJPH[PVUPUYLZWLJ[VM:HUQHUNHVUWSHU[JSHZZPLKHZHZZL[ZOLSKMVYZHSLYLMLYUV[LUV
J
LJVTWHU`OHZNP]LUJVTTLYJPHSWYLTPZLZVUVWLYH[PUNSLHZL^OPJOMVYTWHY[VMP[ZWYLTPZLZH[6L]PSSL0V\ZL*HSSHYK-Z[H[LHUK+?HKPH1U[LYUH[PVUHS+LU[YL?VYSP;PUJL
only a portion of the buildings are given on lease, the gross carrying amount and accumulated depreciation of the premises given on lease is not seperately available.
12.
,LZJYPW[PVU
/YVZZ*SVJR
,LWYLJPH[PVU
6L[*SVJR
4.22
Software
10.63
0.07
Total
14.85
0.07
As at 31.03.2015
14.89
0.26
4.22
3.17
0.42
0.01
0.21
0.01
0.21
0.36
0.06
3.59
0.63
1.05
10.48
8.37
1.04
0.17
14.70
11.54
1.46
0.17
9.24
1.24
2.26
12.83
1.87
14.85
10.05
1.53
0.10
0.06
11.54
3.31
3.31
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
75
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
` in crores
16+1,-6<)4-@8-6,1<=:-:-4)<16/<7+76;<:=+<176,->-4785-6<
As at
As at
31st5HYJO
Opening balance
64.69
(13.98)
(50.71)
Closing balance
` in crores
676+=::-6<16>-;<5-6<;
As at
As at
31st5HYJO
<:),-16>-;<5-6<;>HS\LKH[+VZ[
-\P[`ZOHYLZM\SS`WHPK\W=UX\V[LK
1U]LZ[TLU[PUHZZVJPH[LJVTWHU`
20,000 (2014-15: 20,000) Equity shares of ` 10 each in Bombay Dyeing Real
Estate Company Limited
1U]LZ[TLU[PUQVPU[S`JVU[YVSSLKLU[P[`
0.02
0.02
2,217 (2014-15: 2,217) Series A shares of U.S. $ 1,000 each in PT. Five Star
Textile Indonesia
Investment in others
1.59
1.59
0.01
0.01
0.30
0.30
1.92
1.92
49.81
49.81
88,200 (2014-15: 88,200) Equity shares of ` LHJO PU 8LU[HS <L_[PSL
Dealers Ltd.
Investment in others
0.88
0.88
100 (2014-15: 100) Shares of ` 25 each in Roha Industries Association's Cooperative Consumers Society Ltd.[ ` 2500/-(2014-15 ` 2500/-)]
Debentures
1U]LZ[TLU[PUZ\IZPKPHY`JVTWHU`
3,35,000 (2014-15: 3,35,000) Fully Convertible Unsecured (Interest Free)
Debentures of ` 100 each in Archway Investment Co.Ltd.
3.35
3.35
54.04
55.96
54.04
55.96
55.96
55.96
55.96
55.96
7<0-:16>-;<5-6<;>HS\LKH[+VZ[
-\P[`ZOHYLZM\SS`WHPK\W=UX\V[LK
1U]LZ[TLU[PUZ\IZPKPHY`JVTWHU`
76
476/<-:547)6;)6,),>)6+-;
As at
31st5HYJO
=UZLJ\YLK+VUZPKLYLKNVVK\USLZZV[OLY^PZLZ[H[LK
Capital advances
Security deposits
Considered good
Considered doubtful
Less : Provision for doubtful advances
Loans and advances to related parties
Considered good
Considered doubtful
Less : Provision for doubtful advances
Advances recoverable in cash or kind
Considered good
Considered doubtful
Less : Provision for doubtful advances
Prepaid expenses
Loans to employees
Balances with government authorities
Considered good
Considered doubtful
Less : Provision for doubtful advances
a)
` in crores
As at
31st March, 2015
1.28
2.62
6.07
0.57
(0.57)
6.07
5.93
0.57
(0.57)
5.93
23.07
24.83
(24.83)
23.07
25.08
17.18
(17.18)
25.08
2.38
2.96
(2.96)
2.38
0.03
0.18
2.28
2.76
(2.76)
2.28
0.08
0.23
1.85
1.46
(1.46)
1.85
34.86
1.03
1.48
(1.48)
1.03
37.25
Loans and advances to related parties include a deposit of ` 15.22 crores (2014-15 ` 15.22 crores) and amounts recoverable of ` 4.85 crores
(net of provisions) (2014-15 ` 6.86 crores) from PT. Five Star Textile Indonesia (PTFS), a jointly controlled entity. PTFS has been incurring
JVU[PU\V\ZSVZZLZL+VTWHU`OHZWYVWVZLKKPZWVZHSVMZ\YWS\ZSHUKZHZZL[ZVM[OL\UKLY[HRPUNMVYYLJV]LY`VM[OLKLWVZP[ZHUKHK]HUJLZ
In the opinion of the management the advances and deposits are considered good and fully recoverable.
` in crores
b)
20.07
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4PTP[LK,LWVZP[
22.08
3.00
3.00
23.07
25.08
As at
31st5HYJO
6.40
8.01
18.89
1,779.07
0.45
1,812.82
` in crores
As at
31st March, 2015
4.28
6.98
14.67
1,164.81
1,190.74
(a) Deposits with banks are under lien as security for guarantees issued on behalf of the Company.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
77
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
17. INVENTORIES
(Valued at lower of cost and net realisable value)
Raw materials [includes in transit ` 25.34 crores (2014-15 ` 49.86 crores)]
Work-in-progress
Finished goods [includes in transit ` 7.86 crore (2014-15 ` 1 crore)]
Stock-in-Trade
Stores, spares and catalysts
Real estate development work-in-progress
As at
31st5HYJO
50.50
7.82
64.73
59.78
13.46
483.58
679.87
` in crores
As at
31st March, 2015
67.32
9.39
90.28
26.77
15.27
501.24
710.27
6V[L"Real Estate development work-in-progress includes expenditure amounting to ` 39.12 crore (2014-15 ` 50.70 crore) incurred by the Company
on projects which are delayed or yet to be commenced. Management expects to commence these projects in the near future and does not expect
any loss on this account.
` in crores
18. TRADE RECEIVABLES
As at
As at
31st5HYJO
=UZLJ\YLKJVUZPKLYLKNVVK\USLZZV[OLY^PZLZ[H[LK
Outstanding for a period exceeding six months from the date they are due for payment
Considered good
81.66
40.72
Considered doubtful
19.89
19.48
101.55
60.20
(19.89)
(19.48)
81.66
40.72
156.49
224.07
238.15
264.79
(a) Trade receivables includes ` 38.41 crores (2014-15 ` 36.64 crores) due from a customer towards part compensation for sale of property,
JVTTVUHYLHTHPU[LUHUJLJOHYNLZHUKWYVQLJ[YLSH[LKJVZ[ZLYLJLP]HISLZHYL\UKLYKPZW\[LHUK[OLTH[[LYOHZILLUYLMLYYLK[V[OL
HYIP[YH[PVU8LUKPUNUHSPZH[PVUVMHYIYP[YH[PVUWYVJLLKPUNZ[OLYLJLP]HISLZHYLJVUZPKLYLKNVVK
As at
31st5HYJO
` in crores
As at
31st March, 2015
13.03
5.62
0.10
18.75
3.67
4.23
0.17
8.07
1.05
68.18
25.79
1.03
0.22
59.10
95.02
113.77
60.35
68.42
(a) Balances with banks in escrow accounts represents amounts held in escrow in accordance with the directions of the Monitoring Committee
for redevelopment of land of Cotton Textile Mills.
78
Fixed deposits under lien towards security for guarantees issued on behalf of the Company and as security against a claim on the
Company - ` 19.31 crores (2014-15 ` 25.19 crores).
Short term deposits relating to amounts held under Escrow in accordance with the loan arrangements with a consortium of bankers
` 6.32 crores (2014-15 ` 29.78 crores)
;07:<<-:547)6;)6,),>)6+-;
=UZLJ\YLKJVUZPKLYLKNVVK\USLZZV[OLY^PZLZ[H[LK"
Security deposits
Loans and advances to related parties
Considered good
Considered doubtful
Less : Provision for doubtful advances
Advances recoverable in cash or kind or for value to be received
Advance income-tax (net of provision for taxation)
Prepaid expenses
Loans/ advances to employees
Balances with government authorities
As at
31st5HYJO
` in crores
As at
31st March, 2015
0.13
0.19
1.03
0.01
(0.01)
1.03
68.96
32.95
2.02
0.40
37.62
143.11
51.22
0.05
(0.05)
51.22
82.78
24.20
3.57
0.58
58.47
221.01
a)
Advances recoverable in cash or in kind or for value to be received includes ` 0.73 crore (2014-15 ` 0.73 crore) on account of remuneration
recoverable from Mr. M.K.Singh, Executive Director, whose services were terminated on 6th July, 2008 consequent to detection of irregular
JVUK\J[)Z\P[OHZILLUSLKI`[OL+VTWHU`PU[OL0PNO+V\Y[VM2\KPJH[\YLVM5\TIHPHSSLNPUNMYH\K\SLU[TPZJVUK\J[LTH[[LYPZ
pending before the Court.
b)
As at
31st5HYJO
Archway Investment Company Limited
Go Airlines (India) Limited (net)
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4PTP[LK
Bombay Dyeing Real Estate Company Limited
0.76
0.27
1.03
` in crores
As at
31st March, 2015
21.25
0.36
0.16
29.45
51.22
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
79
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
As at
31st5HYJO
` in crores
As at
31st March, 2015
1.40
8.85
2.77
-
2.22
5.84
9.37
36.73
11.68
0.35
(0.35)
11.68
404.76
429.46
14.80
14.80
462.74
531.70
As at
31st5HYJO
376.13
(140.14)
(13.26)
222.73
` in crores
As at
31st March, 2015
L+VTWHU`PZJVTTP[[LK[VHWSHU[VZLSS[OLHZZL[ZVM[OL:HUQHUNHVU=UP[HUKMVY[OPZW\YWVZLOHZLU[LYLKPU[VH[LYTZOLL[^P[OHWYVWVZLK
purchaser to sell the entire assets including land,building,machineries etc.on slump sale basis. Accordingly the carrying amount of the Ranjangaon
HZZL[ZOH]LILLUYLJSHZZPLKHZOLSKMVYZHSL
1,457.35
99.33
1,358.02
446.70
` in crores
2014-15
2,036.34
4.08
133.57
1,906.85
420.83
23.53
2.00
14.76
40.29
1,845.01
23.45
2.26
24.88
50.59
2,378.27
1,152.47
91.55
213.33
1,457.35
1,475.89
245.26
315.18
2,036.34
80
+0)6/-;1616>-6<7:1-;7..161;0-,/77,;?7:3168:7/:-;;)6,;<7+3
16<:),5HU\MHJ[\YPUN
Inventories at the end of the year
Finished goods
Work-in-progress
Stock-in-trade
Inventories at the beginning of the year
Finished goods
Work-in-progress
Stock-in-trade
Inventory change - manufacturing (a)
` in crores
2014-15
12.16
9.22
3.35
4.83
4.45
1.80
3.57
39.38
3.95
0.02
3.63
8.47
16.18
15.66
3.65
3.35
54.91
67.33
881.13
(50.50)
897.96
` in crores
2014-15
122.40
1,215.52
(67.33)
1,270.59
0.10
8.53
1.61
603.99
269.19
14.54
897.96
` in crores
1.82
0.33
21.00
130.71
16.04
786.04
298.63
16.02
1,270.59
` in crores
2014-15
59.75
7.82
59.78
127.35
85.31
9.39
26.77
121.47
85.31
9.39
26.77
121.47
(5.88)
155.77
18.20
30.40
204.37
82.90
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
81
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
+0)6/-;1616>-6<7:1-;7..161;0-,/77,;?7:3168:7/:-;;)6,;<7+3
16<:),Real Estate
Inventories at the end of the year
Stock in trade
Development work-in-progress
Inventories at the beginning of the year
Stock in trade
Development work-in-progress
Decrease / (increase) in inventory
Release from revaluation reserve in proportion of revenue recognised on areas agreed
for sale / sold
Inventory change - real estate (b)
Inventory change (a) + (b)
` in crores
2014-15
4.98
483.58
488.56
4.98
501.24
506.22
4.98
501.24
506.22
17.66
(163.86)
5.07
368.90
373.97
(132.25)
(351.24)
(146.20)
(483.49)
!
87.67
7.55
5.25
100.47
` in crores
2014-15
78.18
5.93
5.91
90.02
162.46
74.88
24.37
20.93
282.64
` in crores
2014-15
123.09
48.30
21.33
34.50
227.22
32.45
1.46
33.91
` in crores
2014-15
45.29
1.53
46.82
82
` in crores
2014-15
40.54
37.88
46.20
2.71
3.38
6.39
1.76
(0.01)
1.17
140.02
51.06
64.85
47.78
3.94
1.10
6.21
1.71
(0.10)
20.24
196.79
19.14
177.86
89.82
-
16.68
47.72
0.40
3.44
4.66
-
463.92
2.20
50.70
291.48
585.06
7.01
1.92
25.27
27.55
61.75
8.06
1.89
26.69
29.48
66.12
18.88
15.77
2.13
0.02
8.55
16.32
2.32
2.41
0.30
40.03
106.73
599.98
13.90
14.29
1.84
0.06
14.58
7.48
1.87
23.84
1.38
35.84
115.07
963.05
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
83
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
31
` in crores
2014-15
0.57
0.35
0.47
0.35
0.03
0.02
0.97
0.02
0.01
0.85
(` in crores)
CONTINGENT LIABILITIES
A
2014-15
ii
0.18
22.76
23.93
8.29
1.85
0.95
0.95
103.67
44.75
6.65
3.72
(d) Other Matters (Including claims related to real estate, employees and other
matters)
In respect of items (a) to (d) above, it is not possible for the Company to estimate
[OL [PTPUNZ VM JHZO V\[V^Z ^OPJO ^V\SK IL KL[LYTPUHISL VUS` VU YLJLPW[ VM
judgments pending at various forums/authorities.
B
Guarantees
01. Counter indemnity for an amount of ` 193.75 crores (31.3.2015 ` 182.82
crores) issued in favour of IDBI Bank Limited which in turn has guaranteed
loans granted by Punjab National Bank International London and Bank of
1UKPH2LYZL`[V8<.;ZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLVUZX\HYL
metres of land at Companys Spring Mill Dadar, Naigaon together with all
buildings, structures and erections there on.
02. Corporate guarantee for an amount of `35.27 crores (31.03.2015 ` 20.76
crores) issued in favour of Bank of Bahrain & Kuwait, Bahrain for loans
NYHU[LK [V 8<.; L +VTWHU` OHZ H WHYP WHZZ\ JOHYNL VU 8<.;pZ HZZL[Z
which would cover the aforesaid indemnity amount.
84
32
33
ii
iii
` in crores
2014-15
99.75
29.10
1,075.12
1,252.73
0.17
0.17
During the year 2000-01, pursuant to the scheme of amalgamation between Scal Investments Limited (SIL) and the Company, sanctioned by
the jurisdictional court on 20th April, 2001, the assets, liabilities and reserves of SIL had been transferred to and vested in the Company with
effect from 1st7J[VILYL[P[SLZPUYLZWLJ[VMJLY[HPUPTTV]HISLWYVWLY[PLZHTHSNHTH[LKPU[V[OL+VTWHU`HYLZ[PSSPU[OLWYVJLZZVM
transfer.
LWYVWVZLKZHSLHUK[YHUZMLYVM[OLLU[PYL=UKLY[HRPUNJVUZPZ[PUNVM[OL<L_[PSLMHJ[VY`WSHU[VM[OL+VTWHU`ZP[\H[LKH[:HUQHUNHVU
Maharashtra, on a slump sale basis as a going concern and on as is where is basis for a total consideration of ` 230 crore under the Term Sheet
signed by the Company on May 13, 2015 could not be consummated and accordingly the Company had forfeited the deposit of ` 25 lac paid
I`[OLWYVWVZLKW\YJOHZLYLWYVWVZLKW\YJOHZLYOHZHNHPUYL]P]LK[OLVMMLYHUK[OL+VTWHU`OHZZPNULKHUV[OLY<LYT;OLL[KH[LK5HYJO
28, 2016 with the same proposed purchaser for sale of the textile processing unit at Ranjangaon, on a slump sale basis for the same total
consideration of `JYVYLZLWYVWVZLKW\YJOHZLYPZYLX\PYLK[VKLWVZP[LHYULZ[TVUL`KLWVZP[VM` 23 crore in an escrow account before
[OLL_WPY`VMKH`ZMYVT[OLKH[LVML_LJ\[PVUVM[OL<LYT;OLL[L+VTWHU`PZHSZVJVUZPKLYPUNVMMLYZMVYZHSLVM]HJHU[SHUKZLWHYH[LS`
as well as making efforts to sell the land, building and machinery separately under the assets sale route.
35
Based on the advice obtained by the Company, the premium charged by the Company on sale of apartments under the deferred payment
scheme compared to the price charged under the normal sales scheme is also considered as part of sales consideration and is recognised as
revenue under the percentage of completion method
L +VTWHU` ]PKL UV[PJL KH[LK th 2HU\HY` UV[PLK [OL JSVZ\YL VM P[Z [L_[PSL TPSSZ THU\MHJ[\YPUN \UKLY[HRPUN H[ ?VYSP W\YZ\HU[
to which some of the textile workers accepted alternate employment in the company and the remaining workers accepted closure of the
undertaking and consequent termination of services under the memorandum of agreement signed by the Company with the workers union. In
accordance with the agreement, the Company has paid / provided to such employees the terminal dues, closure compensation and ex-gratia
compensation. Whilst some workers have accepted lump sum compensation, others have opted for a monthly payment up to age 63 or till
KLTPZL^OPJOL]LYPZLHYSPLYLSPHIPSP[`PUYLZWLJ[VM[OLTVU[OS`WH`TLU[ZOHZILLUHJ[\HYPHSS`KL[LYTPULKHZVU[OL*HSHUJLZOLL[KH[L
at ` 7.17 crores (2014-15 - ` 7.26 crores) by the independent actuary. As at the time of the previous voluntary retirement schemes, the initial
JVZ[YLSH[PUN[VL_NYH[PHJVTWLUZH[PVU^HZHKKLK[V[OLKL]LSVWTLU[JVZ[VMSHUKLHJ[\HYPHSSVZZMVY[OL`LHYHTV\U[PUN[V` 0.48 crore
(2014-15 `JYVYLOHZILLUYLJVYKLKPU[OL;[H[LTLU[VM8YV[4VZZ
L +VTWHU` OHZ HNYLLK [V ZLSS ZL]LYHS HWHY[TLU[Z PU [OL WYVWVZLK YLZPKLU[PHS [V^LYZ ILPUN JVUZ[Y\J[LK H[ 1ZSHUK +P[` +LU[YL [V ;+)4
Services Ltd, a Group company, in terms of various Memorandum of Understanding (MOUs) entered between the companies till March 31,
2016. Based on the method of accounting (percentage of completion) followed by the company, net revenue of ` 239.26 crores (March 2015
`JYVYLZHUK[OLYLZ\S[HU[WYV[ILMVYL[H_VM` 158.63 crores (March 2015 ` 224.49 crores) has been recognised during the year
ended March 31, 2016 in respect of the sales to SCAL.During the year, SCAL has requested the Company for certain concessions on grounds
that due to the huge delays in construction by the Company, it had incurred substantial interest costs on account of its borrowings against
[OL\UZVSKPU]LU[VY`VMH[Z^OPJOJV\SKUV[ILZVSKK\L[V[OLKLSH`ZPU[OLWYVQLJ[8\YZ\HU[[V[OLYLX\LZ[[OL+VTWHU`JVUZPKLYPUN[OL
MHJ[ZHUKJPYJ\TZ[HUJLZ[OH[SLK[V;+)4pZPUHIPSP[`[VZLSS[OLH[ZOHZNYHU[LK;+)4KLMLYTLU[VMTPSLZ[VULWH`TLU[Z[PSS2\ULVY
[PSS[OLZHSLVMHSS\UZVSKH[ZHUKHSZVJVUZPKLYPUN[OH[;+)4^HZHI\SRJ\Z[VTLY^OVOHKW\YJOHZLKHSHYNLU\TILYVMH[ZHUKOHKUV[
received the discounts given to other bulk purchasers, the Company reduced the advance payment made by SCAL to 7.5% resulting in refund
of about ` 270.35 crore to SCAL.
38 Recognition of income and expenses on on-going real estate project under long term contracts is based on actual sales; estimated costs
HUK^VYRJVTWSL[PVUZ[H[\Z,L[LYTPUH[PVUVMWYV[ZSVZZLZ[OLWLYJLU[HNLVMJVTWSL[PVUJVZ[Z[VJVTWSL[PVUHUKYLHSPZHIPSP[`VM[OL
construction work in progress & unbilled revenues necesssarily involves making estimates by the Company, some of which being of a technical
UH[\YLHYLILPUNYLSPLK\WVUI`H\KP[VYZ8YV[MYVT[OLZLJVU[YHJ[ZHUK]HS\H[PVUVMJVUZ[Y\J[PVU^VYRPUWYVNYLZZ\UIPSSLKYL]LU\LPZ
based on such estimates.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
85
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
39 Pursuant to the Order of the Supreme Court dated August 2, 2013 and the Order of the Bombay High Court dated November 20, 2013
permitting the Company to surrender land at one location i.e. Spring Mills, Wadala, under the Integrated Development Scheme for
consolidating handover obligation, the Company had in December 2014 given advance possession of 32,829.02 sq. mtrs of land to MCGM
HUK !ZXT[YZVMSHUK[V50),)H[;WYPUN5PSSZ?HKHSHHM[LYJVTWSL[PVUVMULJLZZHY`IV\UKHY`^HSSHUKPU[LYUHSSSPUNSL]LSPUN
SWD, etc. as per the provisions of DCR 58 (6) read with DCR 58 (1) (a) & (b). Both MCGM and MHADA have taken advance possession of the
said lands, pending completion of certain administrative formalities, which as per the companys architect are routine.
)Z WLY [OL WYV]PZPVUZ VM ,+: HUK HZ JLY[PLK I` [OL +VTWHU`pZ )YJOP[LJ[Z [OL +VTWHU` PZ LU[P[SLK [V ,L]LSVWTLU[ :PNO[Z .;1 VM
43,661.11 sq. mtrs generated in lieu of lands earmarked and handed over to MCGM for utilization by the owners on the said land and to
Transferable Development Rights (TDR) of 44,984.44 sq. mtrs. in lieu of lands earmarked and handed over to MHADA under the Integrated
Development Scheme as per the provisions of DCR 58.
Since physical possession of the earmarked lands is handed over and Advance Possession Receipts obtained from MCGM and MHADA, the
Company has during 2014-15 recognized the entitlement of additional Development Rights (FSI) available for its own use and accordingly
JVU]LY[LK[OLZHTLPU[VZ[VJRPU[YHKLH[THYRL[]HS\LHZHZJLY[HPULKI`YLNPZ[LYLK]HS\LYZL<YHUZMLYHISL,L]LSVWTLU[:PNO[Z<,:
^PSSILYLJVNUPZLKVUYLJLPW[VM<,:JLY[PJH[LZ
40 Litigations
(a) During the year 2010-11, the Company had agreed to sell certain area in the proposed tower TWO ICC to Shaan Realtors Pvt. Ltd., formerly
)JJVYK0VSKPUN8][4[Kq[OLJSHPTHU[ZrLHYLHHNYLLK[VILZVSKPZ\UKLYKPZW\[LHUK[OLTH[[LY^HZYLMLYYLK[VHYIP[YH[PVU
LHYIP[YH[VY]PKLVYKLYKH[LKth2HU\HY`WHZZLK[OLUHSH^HYKKPYLJ[PUN[OLJVTWHU`[VHSSV[[V[OLJSHPTHU[ZHUKVYP[Z
associates, friends, nominees carpet area of 1,00,000 sq. ft. less the carpet area as already allotted to them in the proposed tower TWO
1++UHTLS`HKKP[PVUHSJHYWL[HYLHVM !ZXM[L+VTWHU`OHZSLKHUHWWLHSPU[OL*VTIH`0PNO+V\Y[\UKLYZLJ[PVUVM[OL
)YIP[YH[PVU+VUJPSPH[PVU)J[!!HNHPUZ[[OLZHPKH^HYKMVY^OPJO[OLOLHYPUNZHYLPUWYVNYLZZL+VTWHU`PZJVUKLU[[OH[[OL
UHSH^HYKWHZZLKI`[OLSLHYULKHYIP[YH[VY^PSSNL[YL]LYZLKPU]PL^VM[OLZ[YVUNTLYP[ZPU[OLJHZL0V^L]LY[OLYLX\PZP[LHYLHOHZ
ILLUZL[HZPKLI`[OL+VTWHU`HUK[OL[V[HSHYLH[VILHSSV[[LK[V[OLJSHPTHU[Z^PSSILHJJV\U[LKVUKPZWVZHSVM[OLHWWLHSSLKPU[OL
0PNO+V\Y[6VHKQ\Z[TLU[OHZILLUTHKLPU[OLUHUJPHSZ[H[LTLU[ZPU]PL^VM[OL\UJLY[HPU[`PU]VS]LK
I L*VTIH`0PNO+V\Y[]PKLP[ZVYKLYKH[LK6V]LTILYWLYTP[[LK[OL+VTWHU`[VZ\YYLUKLYSHUKH[VULSVJH[PVUPL?HKHSHHZ
per the application made by the company under integrated development scheme. As per this order the total of 66,651 sq. meter of land
OHZILLUZ\YYLUKLYLK[V5+/5HUK50),)H[1ZSHUK+P[`+LU[YL?HKHSH,\YPUN[OL`LHY[OL=UPVUOHKSLKH^YP[WL[P[PVU
YLX\PYPUN [OL JVTWHU` [V Z\YYLUKLY UVU [L_[PSL TPSS SHUK L *VTIH` 0PNO +V\Y[ OHZ KPYLJ[LK [OL +VTWHU` [V YLZLY]L HKKP[PVUHS
ZXTL[LYZVMSHUKHKQHJLU[[V[OLSHUK[VILZ\YYLUKLYLKL+VTWHU`ILSPL]LZ[OH[HIV]LZHPK^YP[WL[P[PVUSLKPU*VTIH`
High Court has no impact on the development of the two towers at ICC since the reserved land of 10,000 sq. meters is different from
the one where construction of the two towers is in progress.
L YLT\ULYH[PVU WHPK [V 5HUHNPUN ,PYLJ[VY MVY [OL `LHY LUKLK 5HYJO PZ PU L_JLZZ VM [OL SPTP[Z SHPK KV^U PU ZLJ[PVU
! VM [OL +VTWHUPLZ )J[ YLHK ^P[O ;JOLK\SL > VM [OL ZHPK )J[ L L_JLZZ YLT\ULYH[PVU VM ` 4.40 crore is subject to the
approval of the Central Government, in respect of which the Company has made an application and the approval is awaited.
LYLT\ULYH[PVUWH`HISL[V[OL5HUHNPUN,PYLJ[VYMVY[OL`LHYLUKLK5HYJO^OPJO^HZPUL_JLZZVM[OLSPTP[ZWYLZJYPILK\UKLY
sections 197 and 198 of the Companies Act, 2013 has been approved by the Central Government under section 196,197,198 & 200 read with
schedule V to the Companies Act, 2013 vide approval dated December 17, 2015.
86
-TWSV`LL*LUL[Z
)
,LULK+VU[YPI\[PVU8SHU
L+VTWHU`OHZYLJVNUPaLK[OLMVSSV^PUNHTV\U[ZPU[OLZ[H[LTLU[VMWYV[HUKSVZZ\UKLYJVU[YPI\[PVU[VWYV]PKLU[HUKV[OLYM\UKZ
as under:
(` in crores)
*
2014-15
3.24
2.89
0.47
0.41
0.32
0.55
,LULK*LUL[8SHU
Gratuity and Voluntary Retirement Scheme (VRS) (Refer note 36 above) - as per actuarial valuation as on 31st March, 2016
(` in crores)
2014-15
Gratuity
i.
VRS
ii.
2014-15
17.84
17.04
7.26
6.40
Interest cost
1.41
1.58
0.58
0.59
1.54
1.53
*LUL[ZWHPK
(0.75)
(1.36)
(0.57)
(0.54)
(0.61)
(0.95)
(0.10)
0.81
19.43
17.84
7.17
7.26
(` in crores)
st
2014-15
2014-15
18.20
17.44
1.45
1.52
(0.32)
(0.36)
0.38
0.96
*LUL[Z8HPK
(0.75)
(1.36)
18.96
18.20
2.05
1.17
100.00
100.00
L+VTWHU`L_WLJ[Z[VJVU[YPI\[LPU
LTHQVYJH[LNVYPLZVM8SHU)ZZL[ZHZHWLYJLU[HNLVM[OLMHPY]HS\LVM
total Plan Assets are as follows:
Insurance Funds
Others
100.00
100.00
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
87
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
(` in crores)
iii.
iv.
2014-15
(17.84)
(7.17)
(7.26)
18.96
18.20
(0.47)
0.36
(7.17)
(7.26)
1.54
1.53
vi.
(19.43)
v.
2014-15
st
1.41
1.57
0.58
0.59
(1.45)
(1.52)
(0.29)
(0.59)
(0.10)
0.81
<V[HSL_WLUZLZYLJVNUPZLKPU[OLZ[H[LTLU[VMWYV[HUKSVZZ
1.21
0.99
0.48
1.40
1.13
1.16
Actuarial Assumptions
Mortality Table
7.85%
7.95%
7.85%
7.95%
7.85%
7.95%
Salary escalation
8.50%
8.50%
5.00%
5.00%
19.43
2014-15
17.84
2013-14
17.04
2012-13
16.41
(` in crores)
2011-12
15.33
18.96
(0.47)
(0.56)
18.20
0.36
(2.23)
17.44
0.40
(1.00)
15.08
(1.33)
1.35
14.51
(0.82)
0.74
(0.32)
(0.36)
(0.28)
(0.27)
(0.37)
7.17
(` in crores)
2014-15
7.26
(7.17)
(0.16)
(7.26)
0.07
8YLZLU[>HS\LVM,LULK*LUL[7ISPNH[PVUHZH[
31st March
Fair Value of Plan Assets as on 31st March
.\UKLK;[H[\ZC;\YWS\Z,LJP[E
Experience adjustment on Plan Liabilities [(Gain)/
Loss]
Experience adjustment on Plan Assets [(Loss)/
Gain]
VRS
1.
2.
3.
4.
5.
8YLZLU[>HS\LVM,LULK*LUL[7ISPNH[PVUHZH[
31st March
Fair Value of Plan Assets as on 31st March
.\UKLK;[H[\ZC;\YWS\Z,LJP[E
Experience adjustment on Plan Liabilities [(Gain)/
Loss]
Experience adjustment on Plan Assets [(Loss)/
Gain]
88
]PP H
LLZ[PTH[LZVMYH[LVMLZJHSH[PVUPUZHSHY`JVUZPKLYLKPUHJ[\HYPHS]HS\H[PVU[HRLPU[VHJJV\U[PUH[PVUZLUPVYP[`WYVTV[PVU
and other relevant factors including supply and demand in the employment market.
I
LKPZJV\U[PUNYH[LPZJVUZPKLYLKIHZLKVUTHYRL[`PLSKVUNV]LYUTLU[IVUKZOH]PUNJ\YYLUJ`HUK[LYTZJVUZPZ[LU[^P[O
[OLJ\YYLUJ`HUK[LYTZVM[OLWVZ[LTWSV`TLU[ILUL[VISPNH[PVUZ
J
LL_WLJ[LKYH[LVMYL[\YUVUWSHUHZZL[ZPZKL[LYTPULKJVUZPKLYPUNZL]LYHSHWWSPJHISLMHJ[VYZTHPUS`[OLJVTWVZP[PVUVMWSHU
assets held, assessed risk, historical results of return on plan assets and the Companys policy for plan assets management.
]PPP
+
7[OLYSVUN[LYTILUL[Z
LHIV]LPUMVYTH[PVUPZJLY[PLKI`[OLHJ[\HY`
Amount recognised as a liability in respect of compensated leave absences as per the acturial valuation as on March 31, 2016 is
` 8.54 crores [2014-15- ` 5.69 crores]
ii
Amount recognised as a liability in respect of long service awards as per the acturial valuation as on March 31, 2016 is ` 2.43
crores [2014-15- ` Nil]
43 Deferred Taxes
(` in crores)
Deferred Tax
Credit / (Charge)
Deferred Tax
(Liability)/Asset as at
(Liability)/Asset as at
(b)
(136.10)
9.98
(126.12)
(136.10)
9.98
(126.12)
0.41
2.29
2.70
10.61
2.61
13.22
120.57
(14.88)
105.69
4.51
4.51
136.10
(9.98)
126.12
In the absence of virtual certainity regarding future taxable income, deferred tax assets relating to unabsorbed depreciation under the Income
Tax Act is recognised only to the extent of deferred tax liability.
44
Current Liabilities
LHTV\U[VMK\LZV^LK[V5PJYV;THSSHUK5LKP\T-U[LYWYPZLZHZVUst March, 2016 amounted to ` Nil (31st March, 2015- ` 0.16 crore).
PZHTV\U[OHZILLUV\[Z[HUKPUNMVYTVYL[OHUKH`ZH[[OL*HSHUJL;OLL[KH[LLPUMVYTH[PVUYLNHYKPUN5PJYV;THSSHUK5LKP\T
-U[LYWYPZLZOHZILLUKL[LYTPULK[V[OLL_[LU[Z\JOWHY[PLZOH]LILLUPKLU[PLKVU[OLIHZPZVMPUMVYTH[PVUH]HPSHISL^P[O[OL+VTWHU`PZ
has been relied upon by the auditors.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
89
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
DISCLOSURE UNDER MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006
+VTWHU` OHZ ZV\NO[ JVUYTH[PVU MYVT ]LUKVYZ ^OL[OLY [OL` MHSS PU [OL JH[LNVY` VM 5PJYV ;THSS HUK 5LKP\T -U[LYWYPZLZ *HZLK
on the information available the required disclosure under Micro, Small and Medium Enterprises Development Act, 2006 is given below:
(` in crores)
8HY[PJ\SHYZ
2014-15
Principal amount due to suppliers and remaining unpaid under MSMED Act, 2006
0.16
Interest accrued and due and unpaid to suppliers under MSMED Act, on the above
amount
Payment made to suppliers (Other than interest) beyond the appointed day, during the
year
Interest paid
0.49
13.21
Interest due and payable to suppliers under MSMED Act, for payments already made for
the period of delay
0.02
0.01
Interest accrued and remaining unpaid at the end of the year to suppliers under MSMED
Act
0.02
L+VTWHU`OHKPU[YVK\JLK[OL-TWSV`LL;[VJR7W[PVU;JOLTL-;7;HZHWWYV]LKI`[OLZOHYLOVSKLYZH[[OL)UU\HS/LULYHS5LL[PUNOLSK
on 13th)\N\Z[LZJOLTL^HZHTLUKLKI`[OLZOHYLOVSKLYZH[[OL)UU\HS/LULYHS5LL[PUNOLSKVUrd July 2004 to incorporate
[OLHTLUKTLU[Z\UKLYL;[VJR7W[PVU/\PKLSPULZ]PKL;-*1JPYJ\SHYKH[LKth2\ULLZJOLTLOHZILLUM\Y[OLYHTLUKLKI`[OL
shareholders at the Annual General Meeting held on 7th)\N\Z[^OLYLPU[OLL_LYJPZLWYPJLZOHSSILIHZLKVU[OLTHYRL[WYPJLHZKLULK
in the SEBI (Employee Stock Option Scheme) Guidelines 1999 i.e. at the latest available closing market price, prior to the date of the meeting
of the Board of Directors or Remuneration / Compensation Committee in which options were granted.
As per the Scheme, the Remuneration / Compensation Committee grants options to the employees and Whole-time Directors of the Company.
L]LZ[PUNWLYPVKVM[OLVW[PVUPZVUL`LHYMYVT[OLKH[LVMNYHU[7W[PVUZNYHU[LK\UKLY[OL;JOLTLJHUILL_LYJPZLK^P[OPUHWLYPVKVM
three years from the date of vesting. Vesting of an option is subject to continued employment.
=UKLY[OL;JOLTLK\YPUN[OLUHUJPHS`LHYZMYVT[V[OL+VTWHU`NYHU[LKVW[PVUZLHJOVW[PVUYLWYLZLU[PUN
one equity share of ` 10/- each. Out of these 1,57,910 options were excersised into equity shares and balance 6,500 options lapsed.
On 7th August 2012, the Board of Directors had granted 14000 stock options (70,000 stock options post sub - division) to the
Ex - Joint Managing Director of the Company at an exercise price of ` 528.25 (` 105.65 post subdivision) per share for the years 2011-12
and 2012-13 which options have vested on 7th August 2013. Consequent upon the sub-division of shares on and from 31st October, 2012, the
number of options and the exercise price have been appropriately adjusted.
5L[OVK\ZLKMVYHJJV\U[PUNVMZOHYLIHZLKWH`TLU[WSHU"
L +VTWHU` OHZ \ZLK PU[YPUZPJ ]HS\L TL[OVK [V HJJV\U[ MVY [OL JVTWLUZH[PVU JVZ[ VM Z[VJR VW[PVUZ [V [OL ?OVSL[PTL ,PYLJ[VY VM [OL
Company. Intrinsic value is the amount by which the quoted market price of the underlying share exceeds the exercise price of the option.
Since the options under the Scheme were granted at the market price, the intrinsic value of the option is ` Nil. Consequently the accounting
value of the option (compensation cost) is also ` Nil.
5V]LTLU[PU[OLVW[PVUZ\UKLY[OL;JOLTL"
Options outstanding at the beginning of the year
Options granted during the year
Options vested during the year
Options exercised during the year
Options lapsed during the year
Unexcercised option outstanding as at the end of the year
Options excisable at the end of the period
Weighted average price per option (`)
31st5HYJO
70,000
NIL
NIL
NIL
NIL
70,000
70,000
105.65
90
.HPY>HS\L5L[OVKVSVN`"
Options have been valued based on Fair Value Method of accounting as described under Guidance Note on Accounting for Employee Sharebased Payments using Black-Scholes valuation option-pricing model, using the market values of the Companys shares as quoted on the
National Stock Exchange. If the stock based compensation cost was calculated as per the Fair Value method prescribed by Securities and
-_JOHUNL*VHYKVM1UKPH[OL[V[HSJVZ[[VILYLJVNUPZLKPU[OLUHUJPHSZ[H[LTLU[ZMVY[OLWLYPVK)WYPS[V5HYJO^V\SKHSZV
be nil.
LRL`HZZ\TW[PVUZ\ZLKPU*SHJR;JOVSLZTVKLSMVYJHSJ\SH[PUNMHPY]HS\LVMVW[PVUZ\UKLY[OL;JOLTLHZVU[OLKH[LVMNYHU[HYLHZMVSSV^Z"
31st5HYJO
70,000
th
07 August, 2012
1
3
NA
NA
NA
8HY[PJ\SHYZ
No. of option granted
Date of grant
Vesting period (years)
Expected life of option (years)
Expected volatility
Risk free rate
Expected dividends
0HK[OLJVTWLUZH[PVUJVZ[MVY[OL;JOLTLILLUKL[LYTPULKIHZLKVUMHPY]HS\LHWWYVHJO[OL+VTWHU`pZUL[WYV[HUKLHYUPUNZWLYZOHYL
would have been as per the pro-forma amounts indicated below:
31st5HYJO
8HY[PJ\SHYZ
6L[WYV[HZYLWVY[LK
(85.24)
24.56
(85.24)
24.56
Less: Stock-based compensation expense determined under fair value basedmethod, net of Intrinsic Value (without considering tax impact)
6L[WYV[WYVMVYTHJVUZPKLYLKMVYJVTW\[PUN-8;WYVMVYTH
Basic earnings per share (as reported)
(4.13)
1.19
(4.13)
1.19
(4.13)
1.19
(4.13)
1.19
?LPNO[LK)]LYHNLZOHYLWYPJLVM7W[PVUZL_LYJPZLKK\YPUN[OL`LHY6VVW[PVUZL_LYJPZLKK\YPUN[OL`LHY
:HUNLVM-_LYJPZLWYPJLHUK^LPNO[LKH]LYHNLYLTHPUPUNJVU[YHJ[\HSSPMLVMV\[Z[HUKPUNVW[PVUZ
Grant Date
?LPNO[LKH]LYHNLYLTHPUPUNJVU[YHJ[\HS
SPMLPU`LHYZ
?LPNO[LKH]LYHNLL_LYJPZLWYPJL`
07-Aug-12
70,000
0.35
105.65
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
91
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
46
Particulars of outstanding Forward Foreign Exchange Contracts entered into by the Company as on 31st March, 2016 for hedging the
currency risk:
8HY[PJ\SHYZ
Purpose
0LKNLVMYTJVTTP[TLU[ZOPNOS`WYVIHISL
MVYLJHZ[[YHUZHJ[PVUZHUKL_WVY[VMUPZOLK
goods
)TV\U[PUMVYLPNUJ\YYLUJ`
As at
As at
31st5HYJO
32,259,410
86,131,028
10,057,013
(a)
(b)
As at
As at
31st5HYJO
Trade Receivables
USD
1,051,247
EURO
106,164
205,384
210,908
269,627
5,670
PPP L+VTWHU`OHZHKVW[LK[OLWYPUJPWSLZVMOLKNLHJJV\U[PUNHZZL[V\[PU)JJV\U[PUN;[HUKHYKo.PUHUJPHS1UZ[Y\TLU[Z":LJVNUP[PVU
HUK5LHZ\YLTLU[pPZZ\LKI`L1UZ[P[\[LVM+OHY[LYLK)JJV\U[HU[ZVM1UKPH)JJVYKPUNS`[OLMVYLPNUL_JOHUNLNHPUSVZZVM` (0.92)
crores (2014-15 ` 0.45 crores) as on 31st5HYJOVUMVY^HYKMVYLPNUL_JOHUNLJVU[YHJ[ZLU[LYLKPU[V[VOLKNLYTJVTTP[TLU[Z
and highly probable forecast transactions, which qualify for hedge accounting, has been accounted under Hedging Reserve to be
\S[PTH[LS`YLJVNUPZLKPU[OLWYV[HUKSVZZHJJV\U[^OLU[OLMVYLJHZ[LK[YHUZHJ[PVUZHYPZL
47
2014-15
8YV[JVTW\[H[PVUMVYIV[OIHZPJHUKKPS\[LKLHYUPUNZWLYLX\P[`ZOHYLVM` 2 each:
6L[WYV[HZWLY;[H[LTLU[VMWYV[HUKSVZZH]HPSHISLMVYLX\P[`;OHYLOVSKLYZ
(85.24)
No. of equity shares
24.56
No. of equity shares
206,534,900
206,534,900
206,534,900
206,534,900
206,534,900
206,534,900
(b)
206,534,900
206,534,900
(4.13)
1.19
Diluted (in `)
(4.13)
1.19
92
48
Operating Lease
H L+VTWHU`OHZ[HRLUJLY[HPUTV[VY]LOPJSLZYL[HPSZOVWZH[ZHUKNVKV^UVUVWLYH[PUNSLHZLLWHY[PJ\SHYZPUYLZWLJ[VMZ\JO
leases are as follows:
As at
31st5HYJO
(` in crores)
As at
31st March, 2015
I L+VTWHU`OHZNP]LUJVTTLYJPHSZWHJLVUVWLYH[PUNSLHZLLWHY[PJ\SHYZPUYLZWLJ[VMZ\JOSLHZLZHYLHZMVSSV^Z"
As at
st
31 5HYJO
Lease rent income
(i) Total of lease rent income for a period:
not later than one year
SH[LY[OHUVUL`LHYI\[UV[SH[LY[OHU]L`LHYZ
SH[LY[OHU]L`LHYZ
49
Segment Reporting
(` in crores)
As at
31st March, 2015
17.77
37.30
-
23.56
55.10
-
PP L KL[HPSZ Z\JO HZ NYVZZ JHYY`PUN HTV\U[ HJJ\T\SH[LK KLWYLJPH[PVU HUK KLWYLJPH[PVU MVY [OL J\YYLU[ `LHY HYL UV[ H]HPSHISL
separately in respect of the properties given on lease.
(` in crores)
P
8YPTHY`;LNTLU[Z*\ZPULZZ;LNTLU[Z
A
Textile
Polyester
Total
REVENUE
1
Unallocated revenue
305.66
1,069.12
470.23
1,845.01
[569.94]
[1,364.05]
[444.23]
[-]
[2378.22]
[-]
[2.70]
[-]
[(2.70)]
305.66
1,069.12
470.23
1,845.01
[569.94]
[1,366.75]
[444.23]
([2.70])
[2,378.22]
[0.05]
TOTAL
1,845.01
[2,378.27]
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
93
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
(` in crores)
P
8YPTHY`;LNTLU[Z*\ZPULZZ;LNTLU[Z
B
Textile
Polyester
(21.31)
(22.66)
277.20
[26.20]
[(9.77)]
[302.69]
Total
RESULT
1
;LNTLU[YLZ\S[VWLYH[PUNWYV[SVZZ
233.23
-
[319.12]
(65.39)
[(73.03)]
7WLYH[PUN8YV[
167.84
[246.09]
Interest Expenses
Interest Income
(282.64)
[(227.22)]
29.56
[16.07]
Income Taxes
[(10.38)]
6L[8YV[
(85.24)
[24.56]
OTHER INFORMATION
1
Segment assets
Unallocated assets
354.54
651.05
3,215.48
4,221.07
[423.48]
[758.74]
[2,596.44]
[3,778.66]
172.38
[214.05]
Total assets
4,393.45
[3,992.69]
Segment liabilities
Unallocated liabilities
154.59
333.72
258.73
[102.69]
[483.84]
[147.12]
747.04
[733.65]
2,334.29
[1692.51]
Total liabilities
3,081.33
[694.59]
Depreciation
ZLNTLU[_LKHZZL[Z
1.17
6.60
0.30
8.07
[5.67]
[26.12]
[23.57]
[55.36]
3.91
23.72
5.69
33.32
[14.38]
[23.91]
[8.53]
[46.82]
8.20
0.35
8.55
[6.64]
[7.94]
[-]
[14.58]
94
(` in crores)
P
8YPTHY`;LNTLU[Z*\ZPULZZ;LNTLU[Z
PP
;LJVUKHY`;LNTLU[Z/LVNYHWOPJHS;LNTLU[Z
B
C
Textile
Polyester
Total
India
Rest of the
World
Total
1,566.99
278.02
1,845.01
[2,048.59]
[329.63]
[2,378.22]
4,206.37
14.70
4,221.07
[3,749.51]
[29.15]
[3,778.66]
+VZ[PUJ\YYLKK\YPUN[OL`LHY[VHJX\PYL_LKHZZL[Z
8.07
8.07
[55.36]
[-]
[55.36]
2.
Other related parties with whom Company had transaction during the year
Associate Companies:
th
Aug 2014)
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
95
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
Nature of transactions
I)
(i)
Transactions:
Inter-Corporate Deposits/Advances given
Archway Investment Company Limited
-
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU
Ltd.
Gladrags Media Ltd.
(v)
Subsidiary
Company
Key
Management
Personnel &
their relatives
(` in crores)
Entities over
which Key
Management
Personnel &
their relatives
exercise
ZPNUPJHU[
PU\LUJL
32.04
(1.90)
(-)
(-)
(28.50)
4.50
(33.95)
(-)
(-)
(-)
18.57
(-)
(-)
(-)
(-)
(-)
(-)
(-)
53.29
(9.15)
(-)
(-)
(-)
33.95
(4.50)
(-)
(-)
(-)
18.57
(-)
(-)
(-)
(-)
(-)
(-)
(-)
2.56
(1.36)
(-)
(-)
(1.68)
3.45
(0.91)
(-)
(-)
(-)
0.05
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
5.64
(3.68)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
0.66
(0.71)
0.57
(0.58)
0.04
(0.07)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
0.02
(0.43)
0.26
(0.12)
96
Nature of transactions
Mr. J. C. Bham
Sale of goods
- Go Airlines (India) Ltd.
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU
Ltd.
(xi) Repayment of Fixed Deposits
- Mrs. Saroj Jairaj Bham
(xii) Interest paid on Fixed Deposits
- Mrs. Saroj Jairaj Bham
Subsidiary
Company
Key
Management
Personnel &
their relatives
(` in crores)
Entities over
which Key
Management
Personnel &
their relatives
exercise
ZPNUPJHU[
PU\LUJL
(-)
(-)
(-)
(-)
(-)
(-)
0.07
(0.02)
0.05
(0.03)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
5.82
(5.87)
0.30
(0.64)
(0.75)
0.72
(-)
0.44
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
25.44
(17.11)
(-)
(-)
(-)
(-)
(-)
(-)
1.84
(1.84)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(0.03)
(0.01)
(-)
(-)
(-)
0.02
(0.02)
(-)
(-)
(-)
(-)
(0.01)
(-)
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
97
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
Nature of transactions
II)
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4[K
III) )K]HUJLZYLJLP]LKMVYW\YJOHZLVMH[Z
- Mr. Ness N Wadia
- Mr. Jehangir N Wadia
IV)
V)
VI)
(` in crores)
Subsidiary Associate Joint Venture
Key Entities over
which Key
Companies Companies
Companies Management
Personnel & Management
their relatives Personnel &
their relatives
exercise
ZPNUPJHU[
PU\LUJL
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
29.68
(24.04)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
0.78
(0.40)
0.05
(0.02)
0.27
(0.16)
(21.25)
(-)
(-)
(29.45)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
0.57
(0.57)
0.28
(0.28)
(-)
(-)
(-)
(-)
15.22
(15.22)
(-)
(-)
(-)
(-)
(-)
(-)
3.00
(3.00)
(-)
(-)
229.02
(203.58)
(-)
(-)
(-)
(-)
(-)
0.10
(0.12)
(-)
Notes:
(a) Dividend paid has not been considered by the Company as a transaction falling under the purview of Accounting Standard 18
Related Party Disclosures.
(b) Guarantees and collaterals to PT. Five Star Textile Indonesia are secured by a pari passu charge on the assets of the joint
venture.
98
51
Additional disclosure as required by the amended clause 32 of the listing agreements and section 186 of the Companies Act, 2013
Sr. Name
No
Nature of transaction
A.
2
3
8LU[HS<L_[PSL,LHSLYZ4[K
B.
30.54
[21.25]
[28.50]
[-]
49.81
49.81
[49.81]
[49.81]
[-]
3.35
3.35
[3.35]
[51.00]
[-]
0.88
0.88
[0.88]
[0.88]
[-]
0.02
0.02
[0.02]
[0.02]
[-]
33.95
[29.45]
[29.45]
[-]
54.06
118.55
[104.76]
[159.66]
[-]
15.22
15.22
[15.22]
[15.22]
[-]
29.68
29.68
[24.04]
[24.04]
[-]
44.90
44.90
[39.26]
[39.26]
[-]
Loans and advances in the nature of loans where there is: (i) repayment beyond seven years or (ii) no interest or interest below
section 186 of the Companies Act, 2013, other than referred in A1, A3 and B1 above.
Employee Loans
D.
C.
Balance as at
31st March, 2016
` in crores
0.25
0.40
[0.20]
[0.23]
[-]
Guarantees given:
Guarantees are provided to a bank which has in turn provided guarantees to lender banks and also to a lender bank of jointly
controlled entity for availing long term loans - Refer Note 31.
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
99
67<-;[VUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
52
Joint Ventures
L +VTWHU` OHZ [OL MVSSV^PUN QVPU[ ]LU[\YL HZ VU st March,2016 and its proportionate share in the assets, liabilities, income and
expenditure of the respective joint venture company is given below:
Name of the joint venture company : PT.Five Star Textile, Indonesia (PTFS) (Incorporated in Indonesia) Percentage holding : 33.89%.
(` in crores)
st
st
As at 31 ,LJ
As at 31 Dec, 2014
(a) ASSETS
Fixed Assets
40.58
40.96
Inventories
0.45
0.88
Trade receivables
0.16
0.20
1.29
0.12
5.90
4.29
1.34
1.33
3.93
53.65
47.78
Long-term borrowings
61.12
27.20
Short-term borrowings
48.89
Trade payables
0.07
0.09
1.25
0.44
62.44
76.62
.VYLALHY
Ended 2015
.VYLALHY
Ended 2014
(c) INCOME
4.45
8.15
(d) EXPENSES
8.37
11.72
(b) LIABILITIES
L+VTWHU`pZPU[LYLZ[PU[OPZ2VPU[>LU[\YLPZYLWVY[LKHZ6VUJ\YYLU[PU]LZ[TLU[:LMLY6V[LHUKPZZ[H[LKH[JVZ[L+VTWHU`ZZOHYL
of each of the assets, liabilities, income, expenses etc. (each without elimination of the effect of transaction betweeen the Company and the
2VPU[>LU[\YLYLSH[LK[VP[ZPU[LYLZ[PU[OPZQVPU[]LU[\YLIHZLKVU[OLH\KP[LKUHUJPHSZ[H[LTLU[ZHYLHZHIV]L
53
Raw material
2014-15
658.72
869.38
16.29
21.25
0.14
2.45
Travelling expenses
Interest
Architect Fees, technical & project related Consultancy
Selling and Distribution Expenses
Other expenditure
1.84
4.19
2.19
2.43
(` in crores)
2014-15
2.41
6.40
2.84
0.31
100
55
Consumption
655.01
283.49
938.50
69.79
30.21
100.00
2014-15
921.86
348.74
1,270.60
(` in crores)
%
72.55
27.45
100.00
56
L JVTWHU` ^HZ YLX\PYLK [V ZWLU[ ` 1.30 crores towards CSR during the year in accordance with the provisions of Section 135 of the
Companies Act, 2013. However, the company has spent sum of ` 0.30 crores towards Chennai Flood Relief. Accordingly, there is a shortfall in
CSR spent by ` 1 crores during 2015-16.
LUHUJPHSZ[H[LTLU[ZOH]LUV[ILLUZPNULKI`[OL+VTWHU`;LJYL[HY`HZYLX\PYLK\UKLY[OLWYV]PZPVUVM;LJ[PVUVM[OL+VTWHUPLZ
Act, 2013 consequent to his resignation with effect from 30-April-2016.
58
Remittance in foreign currencies on account of dividend to four non-resident shareholder
i.e. the depository for the GDR holders (2 Accounts) and two Non-Domestic Companies:
(i) on 1,33,35,715 equity shares of ` 2/-each, dividend for 2014-2015
(ii) on 1,33,35,715 equity shares of ` 2/-each, dividend for 2013-2014
Apart from the above, the Company has not made any remittance in foreign currencies on
account of dividends and does not have information as to the extent to which remittances
in foreign currencies on account of dividends have been made by or on behalf of the
V[OLYUVUYLZPKLU[ZOHYLOVSKLYZLWHY[PJ\SHYZVMKP]PKLUKZWHPK[VZ\JOUVUYLZPKLU[
shareholders are as under:
(i) number of non-resident shareholders: 931 (2014-2015 :877)
(ii) on 2,01,65,689 equity shares of ` 2/-each, dividend for 2014-2015
(iii) on 1,64,86,397 equity shares of ` 2/-each, dividend for 2013-2014
59
1.07
-
1.07
1.61
-
1.32
(ii)
2014-15
269.74
319.32
8.28
10.30
.PN\YLZPU*YHJRL[ZPUKPJH[LJVYYLZWVUKPUNN\YLZMVY[OLWYL]PV\Z`LHY
8YL]PV\Z`LHYN\YLZOH]LILLUYLNYV\WLK^OLYLULJLZZHY`
As per our report attached
FOR KALYANIWALLA & MISTRY
Chartered Accountants
Firm Registration No.104607W
NUSLI N. WADIA
Ermin K. Irani
Partner
Membership No.35646
PUSPAMITRA DAS
JEHANGIR N. WADIA
;PNUH[\YLZ[V[OL6V[LZ[VUHUJPHSZ[H[LTLU[Z
For and on behalf of the Board of Directors
Chairman
R.A. SHAH
S. S. KELKAR
Managing Director
S. RAGOTHAMAN
A. K. HIRJEE
CFO
S. M. PALIA
SHEELA BHIDE
ISHAAT HUSSAIN
NESS N. WADIA
Mumbai, 27th May, 2016
Directors
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
101
16,-8-6,-6<)=,1<7:p;:-87:<
TO THE MEMBERS OF
THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED
Report on the Consolidated Financial Statements
?LOH]LH\KP[LK[OLHJJVTWHU`PUNJVUZVSPKH[LKUHUJPHSZ[H[LTLU[Z
of THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED
(hereinafter referred to as the Holding Company) and its subsidiaries
(the Holding Company and its subsidiaries together referred to as
the Group), its associate companies and jointly controlled entity,
comprising the Consolidated Balance Sheet as at March 31, 2016,
[OL +VUZVSPKH[LK ;[H[LTLU[ VM 8YV[ HUK 4VZZ HUK [OL +VUZVSPKH[LK
Cash Flow Statement for the year then ended, and a summary of the
ZPNUPJHU[ HJJV\U[PUN WVSPJPLZ HUK V[OLY L_WSHUH[VY` PUMVYTH[PVU
OLYLPUHM[LYYLMLYYLK[VHZq[OLJVUZVSPKH[LKUHUJPHSZ[H[LTLU[Zr
Managements Responsibility for the Consolidated Financial
Statements
L 0VSKPUN +VTWHU`pZ *VHYK VM ,PYLJ[VYZ PZ YLZWVUZPISL MVY [OL
WYLWHYH[PVU VM [OLZL JVUZVSPKH[LK UHUJPHS Z[H[LTLU[Z PU [LYTZ VM
the requirements of the Companies Act, 2013 (the Act) that give a
[Y\LHUKMHPY]PL^VM[OLJVUZVSPKH[LKUHUJPHSWVZP[PVUJVUZVSPKH[LK
UHUJPHS WLYMVYTHUJL HUK JVUZVSPKH[LK JHZO V^Z VM [OL /YV\W PU
accordance with the accounting principles generally accepted in India,
PUJS\KPUN [OL )JJV\U[PUN ;[HUKHYKZ ZWLJPLK \UKLY ;LJ[PVU VM
[OL )J[ YLHK ^P[O :\SL VM [OL +VTWHUPLZ )JJV\U[Z :\SLZ
L YLZWLJ[P]L *VHYK VM ,PYLJ[VYZ VM [OL +VTWHUPLZ PUJS\KLK PU [OL
Group are responsible for maintenance of adequate accounting records
in accordance with the provisions of the Act for safeguarding of the
assets of the Group and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting
policies; making judgments and estimates that are reasonable and
prudent; and design, implementation and maintenance of adequate
PU[LYUHSUHUJPHSJVU[YVSZ[OH[^LYLVWLYH[PUNLMMLJ[P]LS`MVYLUZ\YPUN
the accuracy and completeness of the accounting records, relevant
[V[OLWYLWHYH[PVUHUKWYLZLU[H[PVUVM[OLUHUJPHSZ[H[LTLU[Z[OH[
give a true and fair view and are free from material misstatement,
whether due to fraud or error, which have been used for the purpose of
WYLWHYH[PVUVM[OLZLJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZI`[OL*VHYKVM
,PYLJ[VYZVM[OL0VSKPUN+VTWHU`
Auditors Responsibility
7\Y YLZWVUZPIPSP[` PZ [V L_WYLZZ HU VWPUPVU VU [OLZL JVUZVSPKH[LK
UHUJPHSZ[H[LTLU[ZIHZLKVUV\YH\KP[
We have taken into account the provisions of the Act, the accounting
and auditing standards and matters which are required to be included
in the audit report under the provisions of the Act and the Rules made
[OLYL\UKLY
We conducted our audit in accordance with the Standards on Auditing
ZWLJPLK \UKLY ;LJ[PVU VM [OL )J[ VZL ;[HUKHYKZ YLX\PYL
that we comply with ethical requirements and plan and perform the
audit to obtain reasonable assurance about whether the consolidated
UHUJPHSZ[H[LTLU[ZHYLMYLLMYVTTH[LYPHSTPZZ[H[LTLU[
An audit involves performing procedures to obtain audit evidence
HIV\[ [OL HTV\U[Z HUK [OL KPZJSVZ\YLZ PU [OL JVUZVSPKH[LK UHUJPHS
Z[H[LTLU[ZLWYVJLK\YLZZLSLJ[LKKLWLUKVU[OLH\KP[VYpZQ\KNTLU[
6V[L [V [OL JVUZVSPKH[LK UHUJPHS Z[H[LTLU[Z YLNHYKPUN [OL
YLT\ULYH[PVUWHPK[V[OL5HUHNPUN,PYLJ[VYPUL_JLZZVM[OLSPTP[Z
prescribed under Section 197 read with Schedule V of the Act by
`JYVYLK\L[VPUHKLX\HJ`VMWYV[ZLL_JLZZYLT\ULYH[PVU
is subject to the approval of the Central Government for which an
HWWSPJH[PVUOHZILLUTHKL
7\YVWPUPVUPZUV[TVKPLKPUYLZWLJ[VM[OLHIV]LTH[[LYZ
Other Matter
?LKPKUV[H\KP[[OLUHUJPHSZ[H[LTLU[ZVMHZ\IZPKPHY`JVTWHU`HUK
HQVPU[S`JVU[YVSSLKLU[P[`^OVZLUHUJPHSZ[H[LTLU[ZYLLJ[[OL[V[HS
assets of `JYVYLHZH[5HYJO[V[HSYL]LU\LZVM`
JYVYLHUKUL[JHZOPUV^HTV\U[PUN[V`JYVYLMVY[OL`LHYLUKLK
on that date, as considered in the preparation of the consolidated
UHUJPHS Z[H[LTLU[Z L +VUZVSPKH[LK UHUJPHS Z[H[LTLU[Z HSZV
PUJS\KL[OL/YV\WpZZOHYLVMUL[SVZZVM`JYVYLMVY[OL`LHYLUKLK
5HYJOHZJVUZPKLYLKPU[OLJVUZVSPKH[LKUHUJPHSZ[H[LTLU[Z
PU YLZWLJ[ VM [^V HZZVJPH[L JVTWHUPLZ ^OVZL UHUJPHS Z[H[LTLU[Z
OH]L UV[ ILLU H\KP[LK I` \Z LZL UHUJPHS Z[H[LTLU[Z UHUJPHS
information have been audited by other auditors whose reports have
Auditors' Report
102
e)
7\YVWPUPVUVU[OLJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZHUKV\YYLWVY[
VU7[OLY4LNHSHUK:LN\SH[VY`:LX\PYLTLU[ZILSV^PZUV[TVKPLKPU
respect of the above matters with respect to our reliance on the work
KVULHUK[OLYLWVY[ZVM[OLV[OLYH\KP[VYZ
M
N
b)
J
?LOH]LZV\NO[HUKVI[HPULKHSS[OLPUMVYTH[PVUHUKL_WSHUH[PVUZ
which to the best of our knowledge and belief were necessary for
[OLW\YWVZLZVMV\YH\KP[VM[OLHMVYLZHPKJVUZVSPKH[LKUHUJPHS
Z[H[LTLU[Z
L+VUZVSPKH[LK*HSHUJL;OLL[[OL+VUZVSPKH[LK;[H[LTLU[VM
8YV[HUK4VZZHUK[OL+VUZVSPKH[LK+HZO.SV^;[H[LTLU[KLHS[
with by this Report are in agreement with the books of account
maintained for the purpose of preparation of the consolidated
UHUJPHSZ[H[LTLU[Z
Place: Mumbai
,H[L"5H`
ERMIN K. IRANI
Partner
5LTILYZOPW6V"
)66-@=:-q)r<7<0-16,-8-6,-6<)=,1<7:p;:-87:<
:LMLYYLK[VPUWHYHNYHWOM\UKLYo:LWVY[VU7[OLY4LNHSHUK:LN\SH[VY`
:LX\PYLTLU[Zp ZLJ[PVU PU V\Y :LWVY[ VM L]LU KH[L [V [OL TLTILYZ VM
[OL+VTWHU`VU[OLUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK5HYJO
2016:
Report on the Internal Financial Controls under Clause (i) of Subsection 3 of Section 143 of the Companies Act, 2013 (the Act).
?LOH]LH\KP[LK[OLPU[LYUHSUHUJPHSJVU[YVSZV]LYUHUJPHSYLWVY[PUN
of THE BOMBAY DYEING AMD MANUFACTURING COMPANY LIMITED,
(hereinafter referred to as the Holding Company), its subsidiary
company and its associate companies incorporated in India as of March
PU JVUQ\UJ[PVU ^P[O V\Y H\KP[ VM [OL JVUZVSPKH[LK UHUJPHS
Z[H[LTLU[ZVM[OL+VTWHU`MVY[OL`LHYLUKLKVU[OH[KH[L
Managements Responsibility for Internal Financial Controls
L YLZWLJ[P]L *VHYK VM ,PYLJ[VYZ VM [OL 0VSKPUN +VTWHU` P[Z
subsidiary company and associate companies incorporated in India
HYL YLZWVUZPISL MVY LZ[HISPZOPUN HUK THPU[HPUPUN PU[LYUHS UHUJPHS
JVU[YVSZIHZLKVU[OLPU[LYUHSJVU[YVSV]LYUHUJPHSYLWVY[PUNJYP[LYPH
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
103
VM\UH\[OVYPaLKHJX\PZP[PVU\ZLVYKPZWVZP[PVUVM[OL+VTWHU`pZHZZL[Z
[OH[JV\SKOH]LHTH[LYPHSLMMLJ[VU[OLUHUJPHSZ[H[LTLU[Z
Inherent Limitations of Internal Financial Controls over Financial
Reporting
*LJH\ZLVM[OLPUOLYLU[SPTP[H[PVUZVMPU[LYUHSUHUJPHSJVU[YVSZV]LY
UHUJPHS YLWVY[PUN PUJS\KPUN [OL WVZZPIPSP[` VM JVSS\ZPVU VY PTWYVWLY
management override of controls, material misstatements due to
LYYVYVYMYH\KTH`VJJ\YHUKUV[ILKL[LJ[LK)SZVWYVQLJ[PVUZVMHU`
L]HS\H[PVUVM[OLPU[LYUHSUHUJPHSJVU[YVSZV]LYUHUJPHSYLWVY[PUN[V
M\[\YLWLYPVKZHYLZ\IQLJ[[V[OLYPZR[OH[[OLPU[LYUHSUHUJPHSJVU[YVS
V]LY UHUJPHS YLWVY[PUN TH` ILJVTL PUHKLX\H[L ILJH\ZL VM JOHUNLZ
in conditions, or that the degree of compliance with the policies or
WYVJLK\YLZTH`KL[LYPVYH[L
Opinion
In our opinion, to the best of our information and according to the
L_WSHUH[PVUZ NP]LU [V \Z [OL 0VSKPUN +VTWHU` HUK P[Z Z\IZPKPHY`
company and associate companies incorporated in India, have, in all
TH[LYPHSYLZWLJ[ZHUHKLX\H[LPU[LYUHSUHUJPHSJVU[YVSZZ`Z[LTV]LY
UHUJPHSYLWVY[PUNHUKZ\JOPU[LYUHSUHUJPHSJVU[YVSZV]LYUHUJPHS
reporting were operating effectively as at March 31, 2016, based on
[OLPU[LYUHSJVU[YVSV]LYUHUJPHSYLWVY[PUNJYP[LYPHLZ[HISPZOLKI`[OL
Holding Company and its subsidiary company and associate companies
incorporated in India considering the essential components of internal
control stated in the Guidance Note on Audit of Internal Financial
Controls over Financial Reporting issued by the Institute of Chartered
)JJV\U[HU[ZVM1UKPH
Other Matter
Our aforesaid report under section 143 (3) of the Act on the adequacy
HUK VWLYH[PUN LMMLJ[P]LULZZ VM [OL PU[LYUHS UHUJPHS JVU[YVSZ V]LY
UHUJPHS YLWVY[PUN PUZVMHY HZ P[ YLSH[LZ [V H Z\IZPKPHY` JVTWHU` HUK
two associate companies, incorporated in India, is based on the
JVYYLZWVUKPUNYLWVY[ZVM[OLH\KP[VYZVMZ\JOJVTWHUPLZ
For Kalyaniwalla & Mistry
Chartered Accountants
.PYT:LNPZ[YH[PVU6V?
Place: Mumbai
,H[L"5H`
ERMIN K. IRANI
Partner
5LTILYZOPW6V"
104
+76;741,)<-,*)4)6+-;0--<as at 31
st
March, 2016
Note
As at
31st March,2016
` in crores
As at
31st5HYJO
2
3
Minority Interest
Non-current liabilities
4VUN[LYTIVYYV^PUNZ
7[OLY4VUN[LYTSPHIPSP[PLZ
4VUN[LYTWYV]PZPVUZ
!
!
!
!
4
6
!
!
! !
!
!!
!
4,458.95
!!
4,084.91
!
!
!
!
!
1870.82
4,458.95
!
1863.94
4,084.91
Current liabilities
;OVY[[LYTIVYYV^PUNZ
<YHKLWH`HISLZ
Other current liabilities
;OVY[[LYTWYV]PZPVUZ
9
10
TOTAL
ASSETS
Non-current assets
.P_LKHZZL[Z
<HUNPISLHZZL[Z
Intangible assets
+HWP[HS^VYRPUWYVNYLZZ
1UJPKLU[HSL_WLUKP[\YLYLSH[PUN[VJVUZ[Y\J[PVUKL]LSVWTLU[
6VUJ\YYLU[PU]LZ[TLU[Z
4VUN[LYTSVHUZHUKHK]HUJLZ
Other non current assets
13
14
16
Current assets
Inventories
<YHKLYLJLP]HISLZ
Cash and bank balances
;OVY[[LYTSVHUZHUKHK]HUJLZ
Other current assets
Assets held for sale
17
19
20
21
22
11
12
TOTAL
;PNUPJHU[)JJV\U[PUN8VSPJPLZ
LHJJVTWHU`PUNUV[LZHYLHUPU[LNYHSWHY[VM[OLJVUZVSPKH[LKUHUJPHS
statements
As per our report attached
FOR KALYANIWALLA & MISTRY
Chartered Accountants
.PYT:LNPZ[YH[PVU6V?
6=;416?),1)
Ermin K. Irani
Partner
5LTILYZOPW6V
8=;8)51<:),);
2-0)6/1:6?),1)
;PNUH[\YLZ[V[OL*HSHUJL;OLL[HUK6V[LZ[VUHUJPHSZ[H[LTLU[Z
.VYHUKVUILOHSMVM[OL*VHYKVM,PYLJ[VYZ
Chairman
:);0)0
;;3-43):
Managing Director
;:)/7<0)5)6
)301:2-CFO
;58)41)
;0--4)*01,1;0))<0=;;)16
6-;;6?),1)
Mumbai, 27th May, 2016
Directors
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
st
March, 2016
` in crores
Note
2015-16
INCOME
Revenue from operations
23
4LZZ"-_JPZL,\[`
Revenue from operations (net)
Other income
24
<V[HS:L]LU\L
! !
!!!
!!
!
!!
!!!
EXPENSES
Cost of materials consumed
8\YJOHZLZVM;[VJRPU<YHKL
+OHUNLZPUPU]LU[VYPLZVMUPZOLKNVVKZ^VYRPUWYVNYLZZHUKZ[VJRPU[YHKL
26
!!!
-TWSV`LLILUL[ZL_WLUZL
27
!
!!
,LWYLJPH[PVUHUKHTVY[PaH[PVUL_WLUZL
29
!
!
!
!
!
1TWHPYTLU[VM_LKHZZL[Z
7[OLYL_WLUZLZ
30
4VZZ8YV[ILMVYL[H_
<H_L_WLUZL"
+\YYLU[[H_
4VZZ8YV[HM[LY[H_
!!
;OHYLVM4VZZPU)ZZVJPH[LZ
4VZZ8YV[ILMVYL5PUVYP[`1U[LYLZ[
!!!
4VZZ8YV[MVY[OL`LHY
(91.09)
20.35
*HZPJ
!!
,PS\[LK
!!
-HYUPUNZWLYLX\P[`ZOHYLVMUVTPUHS]HS\L`LHJO:LMLY6V[L6V
;PNUPJHU[)JJV\U[PUN8VSPJPLZ
L HJJVTWHU`PUN UV[LZ HYL HU PU[LNYHS WHY[ VM [OL JVUZVSPKH[LK UHUJPHS
statements
As per our report attached
FOR KALYANIWALLA & MISTRY
Chartered Accountants
.PYT:LNPZ[YH[PVU6V?
Ermin K. Irani
Partner
5LTILYZOPW6V
Mumbai, 27th May, 2016
;PNUH[\YLZ[V[OL;[H[LTLU[VM8YV[4VZZHUK6V[LZ[VUHUJPHSZ[H[LTLU[Z
.VYHUKVUILOHSMVM[OL*VHYKVM,PYLJ[VYZ
6=;416?),1)
Chairman
:);0)0
;;3-43):
2-0)6/1:6?),1) Managing Director
;:)/7<0)5)6
)301:2-Directors
8=;8)51<:),);
CFO
;58)41)
;0--4)*01,1;0))<0=;;)16
6-;;6?),1)
Mumbai, 27th May, 2016
106
st
March, 2016
` in crores
2015-16
(A) CASH FLOW FROM OPERATING ACTIVITIES:
6-<8:7.1<*-.7:-<)@
!
!
,LWYLJPH[PVUHUKHTVY[PZH[PVU
Impairment of Assets
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!
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Adjusted for
8YV]PZPVUMVYKV\I[M\SKLI[ZHK]HUJLZ
;\UKY`IHSHUJLZL_JLZZWYV]PZPVU^YP[[LUIHJRUL[
!
Interest income
!
,P]PKLUKPUJVTL
8YV[VUZHSLVM_LKHZZL[ZUL[
1U[LYLZ[HUKV[OLYUHUJLJOHYNLZ
!!
!
!
Inventories
<YHKLYLJLP]HISLZ
7[OLYJ\YYLU[HUKUVUJ\YYLU[HZZL[Z
!
<YHKLWH`HISLZHUKHJJLW[HUJLZ
!
!
7[OLYJ\YYLU[HUKUVUJ\YYLU[SPHIPSP[PLZ
Provisions
!
!
,PYLJ[[H_LZWHPKUL[
!
6-<+);0.:7578-:)<16/)+<1>1<1-; (a)
8\YJOHZLVM_LKHZZL[Z
8YVJLLKZMYVTZHSLVM_LKHZZL[Z
!
!
!
1U[LYJVYWVYH[LKLWVZP[ZWSHJLK
!
1U[LYJVYWVYH[LKLWVZP[ZYLJLP]LKIHJR
!
:LZ[YPJ[LKKLWVZP[Z^P[OIHURZTH[\YLK
!
,P]PKLUKPUJVTLYLJLP]LK
!
Interest received
6-<+);0.:75=;-,1616>-;<16/)+<1>1<1-;(b)
!
!!
78-:)<16/8:7.1<*-.7:-?7:316/+)81<)4+0)6/-;)6,7<0-:),2=;<5-6<;
Changes in
+);0/-6-:)<-,.:7578-:)<176;
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
107
` in crores
2015-16
(C) CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from borrowings
Repayment of borrowings
!
8YVJLLKZMYVT_LKKLWVZP[Z1U[LYJVYWVYH[LIVYYV^PUNZ
!
:LWH`TLU[VMTH[\YLK_LKKLWVZP[Z1U[LYJVYWVYH[LIVYYV^PUNZ
!
!!
1U[LYLZ[HUKV[OLYUHUJLJOHYNLZWHPK
!
!
,P]PKLUKWHPKPUJS\KPUNJVYWVYH[LKP]PKLUK[H_
! !
!
6-<+);0.:75.16)6+16/)+<1>1<1-; (c)
18.28
(13.02)
+);0)6,+);0-=1>)4-6<;)<<0-+755-6+-5-6<7.<0-A-):
!
=WVUHKKP[PVUVM;\IZPKPHY`JVTWHU`
!
+);0)6,+);0-=1>)4-6<;)<<0--6,7.<0-A-):
!
18.28
(13.02)
Notes :
+HZOHUK+HZO-X\P]HSLU[ZJVTWYPZLVM"
Balances with banks in current accounts
Cheques on hand
Cash on hand
Share in jointly controlled entity
Cash and cash equivalents
Opening Balance
` in crores
Closing Balance
!
!
26.47
8.19
Amount
1.29
` in crores
Amount
!
0.12
LHIV]L+HZO.SV^;[H[LTLU[PUJS\KLZZOHYLVM+HZO.SV^ZMYVTQVPU[S`JVU[YVSSLKLU[P[PLZHZ\UKLY"
+HZOHUK+HZO-X\P]HSLU[Z7WLUPUN*HSHUJL
H 6L[+HZOMYVT7WLYH[PUN)J[P]P[PLZ
I 6L[+HZO\ZLKPU1U]LZ[PUN)J[P]P[PLZ
J 6L[+HZO\ZLKPUMYVT.PUHUJPUN)J[P]P[PLZ
CASH AND CASH EQUIVALENTS FROM JOINTLY CONTROLLED ENTITIES (Closing Balance)
.PN\YLZPUIYHJRL[ZHYLV\[V^ZKLK\J[PVUZ
8YL]PV\Z`LHYpZN\YLZOH]LILLUYLNYV\WLK^OLYLULJLZZHY`
As per our report attached
FOR KALYANIWALLA & MISTRY
Chartered Accountants
.PYT:LNPZ[YH[PVU6V?
6=;416?),1)
Ermin K. Irani
Partner
5LTILYZOPW6V
8=;8)51<:),);
Chairman
Directors
PKLU[PLKHUKHKQ\Z[LKHNHPUZ[[OLPUJVTLPUVYKLY[VHYYP]LH[
[OLUL[PUJVTLH[[YPI\[HISL[V[OLZOHYLOVSKLYZVM[OLJVTWHU`
LPY ZOHYL VM UL[ HZZL[Z PZ PKLU[PLK HUK WYLZLU[LK PU [OL
+VUZVSPKH[LK *HSHUJL ZOLL[ ZLWHYH[LS` )Z MHY HZ WVZZPISL [OL
JVUZVSPKH[LK UHUJPHS Z[H[LTLU[Z OH]L ILLU WYLWHYLK \ZPUN
uniform accounting policies for like transactions and other events
PUZPTPSHYJPYJ\TZ[HUJLZ
LPU[LYLZ[PU[OLHZZL[ZSPHIPSP[PLZPUJVTLHUKL_WLUZLZVM[OL
joint venture is consolidated using proportionate consolidation
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HUK \UYLHSPZLK WYV[ VY SVZZ HYL LSPTPUH[LK [V [OL L_[LU[ VM
[OL JVTWHU`pZ WYVWVY[PVUH[L ZOHYL L_JLW[ ^OLYL JVZ[ JHUUV[
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\ZPUN H]LYHNL MVYLPNU L_JOHUNL YH[L HUK IHSHUJL ZOLL[ P[LTZ
HYLWYVWVY[PVUH[LS`JVUZVSPKH[LK\ZPUNHZH[[OL`LHYLUKMVYLPNU
L_JOHUNL YH[L ,PMMLYLUJL K\L [V [YHUZSH[PVU VM MVYLPNU QVPU[S`
controlled entity is transferred to foreign currency translation
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PUHJJVYKHUJL^P[O)JJV\U[PUN;[HUKHYK);q)JJV\U[PUN
for Investment in Associates in Consolidated Financial
Statements under which the investment is initially recorded at
cost, identifying any goodwill or capital reserve arising at the time
VMHJX\PZP[PVULJHYY`PUNHTV\U[VM[OLPU]LZ[TLU[PZHKQ\Z[LK
thereafter for the post acquisition change in the share of net
HZZL[ZVM[OLHZZVJPH[L
Proportion
of Ownership
Interest
Proportion
of Ownership
Interest
Country of
Incorporation
Subsidiary Company
Archway Investment
+VTWHU`4PTP[LK
India
!
!
Indonesia
!
!
Jointly Controlled
Entity
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Indonesia
Associates
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India
!
!
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India
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109
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
:L]LU\LMYVTYLHSLZ[H[LHJ[P]P[`PZYLJVNUPZLK[V[OLL_[LU[[OH[
P[PZWYVIHISL[OH[[OLLJVUVTPJILUL[Z^PSSV^[V[OL+VTWHU`
HSS ZPNUPJHU[ YPZRZ HUK YL^HYKZ VM V^ULYZOPW HYL [YHUZMLYYLK
[V[OLJ\Z[VTLYZHUKP[PZUV[\UYLHZVUHISL[VL_WLJ[\S[PTH[L
JVSSLJ[PVU HUK UV ZPNUPJHU[ \UJLY[HPU[` L_PZ[Z YLNHYKPUN [OL
HTV\U[VMJVUZPKLYH[PVU
LMYLLOVSKSHUKPUJS\KPUN.;1LU[P[SLTLU[[OLYLVU\UKLY:LHS
-Z[H[L,L]LSVWTLU[WSHUULKMVYZHPZJVU]LY[LKMYVT_LKHZZL[Z
PU[VZ[VJRPU[YHKLH[THYRL[]HS\LLKPMMLYLUJLIL[^LLU[OL
market value and cost of that part of freehold land is credited
[VYL]HS\H[PVUYLZLY]LHUKPZYLSLHZLK[V[OL;[H[LTLU[VM8YV[
HUK 4VZZ PU [OL WYVWVY[PVU VM YL]LU\L YLJVNUPaLK \UKLY [OL
WLYJLU[HNLVMJVTWSL[PVUTL[OVKVULU[LYPUNPU[VHNYLLTLU[Z
JVU[YHJ[ZMVYZHSL
Revenue from real estate development activity where the
Company still has obligations to perform substantial acts even
HM[LY[OL[YHUZMLYVMHSSZPNUPJHU[YPZRZHUKYL^HYKZPZYLJVNUPZLK
VU[OLo8LYJLU[HNLVM+VTWSL[PVU5L[OVKp:L]LU\LPZYLJVNUPZLK
in relation to the sold areas, on the basis of percentage of actual
cost incurred, including land, development and construction
JVZ[ZHZHNHPUZ[[OL[V[HSLZ[PTH[LKJVZ[VMWYVQLJ[:L]LU\LPZ
YLJVNUPZLK PM [OL JVZ[ PUJ\YYLK PZ PU L_JLZZ VM
VM [OL [V[HS
estimated cost and the outcome of the project can be reliably
HZJLY[HPULK L JVTWHU` JVU[PU\LZ [V YLJVNUPaL YL]LU\L PU
accordance with the Guidance Note on Recognition of Revenue by
:LHS-Z[H[L,L]LSVWLYZ1ZZ\LKMVY[OLWYVQLJ[ZJVTTLUJLK
before 1st)WYPS
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applicable) less accumulated depreciation and impairment
SVZZLZPMHU`LJVZ[PUJS\KLZJVZ[VMHJX\PZP[PVUJVUZ[Y\J[PVU
LYLJ[PVUPUZ[HSSH[PVUL[JWYLVWLYH[P]LL_WLUZLZPUJS\KPUN[YPHS
Y\UHUKIVYYV^PUNJVZ[ZPUJ\YYLKK\YPUNJVUZ[Y\J[PVUWLYPVK
M ,LWYLJPH[PVU
,LWYLJPH[PVUVU_LKHZZL[ZV[OLY[OHUM\YUP[\YL_[\YLZHUK
motor vehicles is provided on the straight line method, prorata to
the period of use, over the useful life as prescribed in Schedule II
to the Companies Act, 2013 or as estimated by the management,
^OPJOL]LYPZSV^LY,LWYLJPH[PVUVUM\YUP[\YL_[\YLZHUKTV[VY
vehicles is provided on the written down value method over the
\ZLM\SSPMLHZWYLZJYPILKPU;JOLK\SL11LHZZL[JH[LNVYPLZHUK
their useful lives over which depreciation is provided are as under:
Asset
4LHZLOVSKSHUK
Buildings
7MJLLX\PWTLU[
Computers
Useful Life
SLHZLWLYPVKUHTLS`!`LHYZ
30 to 60 years
`LHYZ
3 to 6 years
8SHU[THJOPULY`
[V`LHYZ
.\YUP[\YL_[\YLZ
10 years
6 years
5V]HISLZP[LVMJLZ
10 years
Computer software
`LHYZ
<LJOUPJHSRUV^OV^
10 years
Motor vehicles
`LHYZ
110
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(g) Impairment
LJHYY`PUNHTV\U[ZVM[OL+VTWHU`pZ[HUNPISLHUKPU[HUNPISL
assets are reviewed at each balance sheet date to determine
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PUKPJH[PVUL_PZ[Z[OLHZZL[pZYLJV]LYHISLHTV\U[ZHYLLZ[PTH[LK
PU VYKLY [V KL[LYTPUL [OL L_[LU[ VM PTWHPYTLU[ SVZZ PM HU` )U
impairment loss is recognised whenever the carrying amount of
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PM HU` PZ YLJVNUPaLK PU [OL ;[H[LTLU[ VM 8YV[ HUK 4VZZ PU [OL
WLYPVKPU^OPJOPTWHPYTLU[[HRLZWSHJL
Where an impairment loss subsequently reverses, the carrying
amount of the asset is increased to the revised estimate of its
recoverable amount, however subject to the increased carrying
HTV\U[ UV[ L_JLLKPUN [OL JHYY`PUN HTV\U[ [OH[ ^V\SK OH]L
been determined (net of amortization or depreciation) had no
impairment loss been recognized for the asset in prior accounting
WLYPVKZ
PP 4VUN [LYT PU]LZ[TLU[Z HYL Z[H[LK H[ JVZ[ 8YV]PZPVU MVY
diminution is made to recognise a decline, other than
temporary, in value of each long term investment, where
HWWSPJHISL
Inventories
(i)
PP .VY^HYKL_JOHUNLJVU[YHJ[ZV[OLY[OHU[OVZLLU[LYLKPU[V
[VOLKNLMVYLPNUJ\YYLUJ`YPZRVMYTJVTTP[TLU[ZVYOPNOS`
probable forecast transactions are translated at period end
L_JOHUNLYH[LZHUK[OLYLZ\S[HU[NHPUZHUKSVZZLZHZ^LSSHZ
the gains and losses on cancellation of such contracts are
YLJVNUPZLKPU[OL;[H[LTLU[VM8YV[HUK4VZZ8YLTP\TVY
KPZJV\U[VU Z\JO MVY^HYK L_JOHUNLJVU[YHJ[ZPZ HTVY[PZLK
HZPUJVTLVYL_WLUZLV]LY[OLSPMLVM[OLJVU[YHJ[.VY^HYK
L_JOHUNLJVU[YHJ[ZLU[LYLKPU[V[VOLKNLMVYLPNUJ\YYLUJ`
YPZR VM YT JVTTP[TLU[Z VY OPNOS` WYVIHISL MVYLJHZ[
[YHUZHJ[PVUZHYL[YLH[LKHZKLYP]H[P]LUHUJPHSPUZ[Y\TLU[Z
Investments
(i)
8;.KP]PZPVU
S ,LYP]H[P]L.PUHUJPHS1UZ[Y\TLU[ZHUK0LKNPUN
L+VTWHU`LU[LYZPU[VKLYP]H[P]LUHUJPHSPUZ[Y\TLU[Z[VOLKNL
MVYLPNU J\YYLUJ` YPZR VM YT JVTTP[TLU[Z HUK OPNOS` WYVIHISL
MVYLJHZ[ [YHUZHJ[PVUZ L TL[OVK VM YLJVNUPaPUN [OL YLZ\S[PUN
gain or loss depends on whether the derivative is designated
as a hedging instrument, and if so, the nature of the item being
OLKNLK L JHYY`PUN HTV\U[ VM H KLYP]H[P]L KLZPNUH[LK HZ H
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
111
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
11 ,LULK*LUL[8SHU"
a)
Gratuity
L+VTWHU`OHZHUVISPNH[PVU[V^HYKZNYH[\P[`
H KLULK ILUL[ YL[PYLTLU[ WSHU JV]LYPUN
LSPNPISL LTWSV`LLZ L WSHU WYV]PKLZ H S\TW
sum payment to vested employees at retirement,
death while in employment or on termination of
LTWSV`TLU[VMHUHTV\U[LX\P]HSLU[[VKH`Z
or 30 days salary payable for each completed
`LHYVMZLY]PJL>LZ[PUNVJJ\YZ\WVUJVTWSL[PVU
VM ]L `LHYZ VM ZLY]PJL L +VU[YPI\[PVUZ HYL
made to the Gratuity Fund set up as irrevocable
[Y\Z[I`[OL+VTWHU`L+VTWHU`HJJV\U[ZMVY
NYH[\P[`ILUL[ZWH`HISLPUM\[\YLVU[OLIHZPZVM
an actuarial valuation by an independent actuary
at the year end, which is calculated using Project
=UP[ +YLKP[ 5L[OVK )J[\HYPHS NHPUZ HUK SVZZLZ
^OPJO JVTWYPZL L_WLYPLUJL HKQ\Z[TLU[ HUK [OL
effect of change in actuarial assumptions are
YLJVNUPZLKPU[OL;[H[LTLU[VM8YV[HUK4VZZ
I 7[OLYSVUN[LYTLTWSV`LLILUL[ZJVTWLUZH[LK
absences
T -TWSV`LLZILUL[Z
P ;OVY[[LYTLTWSV`LLILUL[Z"
PP 8VZ[LTWSV`TLU[ILUL[Z"
;OVY[[LYTLTWSV`LLILUL[ZHYLYLJVNUPZLKHZL_WLUZLH[
[OL \UKPZJV\U[LK HTV\U[ PU [OL ;[H[LTLU[ VM 8YV[ HUK
4VZZVM[OL`LHYPU^OPJO[OLYLSH[LKZLY]PJLPZYLUKLYLK
1 ,LULK+VU[YPI\[PVU8SHU"
a)
b)
Superannuation
L+VTWHU`WYV]PKLZMVYLUJHZOTLU[VMSLH]LVY
SLH]L^P[OWH`Z\IQLJ[[VJLY[HPUY\SLZLSLH]L
accumulated to the credit of the employees up
[V,LJPZH]HPSHISLMVYJHYY`MVY^HYKHUK
LUJHZOTLU[VUZLWHYH[PVUL+VTWHU`THRLZ
provision for such compensated absences based
on an actuarial valuation by an independent
actuary at the year end, which is calculated using
8YVQLJ[=UP[+YLKP[5L[OVK)J[\HYPHSNHPUZHUK
SVZZLZ ^OPJO JVTWYPZL L_WLYPLUJL HKQ\Z[TLU[
and the effect of change in actuarial assumptions
HYL YLJVNUPZLK PU [OL ;[H[LTLU[ VM 8YV[ HUK
4VZZ
Post 2014, leave earned during the year has to
be utilized by the employees within the following
`LHY;\JOSLH]LPZHZOVY[[LYTLTWSV`LLILUL[
112
J
<LYTPUH[PVU*LUL[Z
L+VTWHU`WYV]PKLZMVYJVTWLUZH[PVUWH`HISL
HZWHY[VM[LYTPUH[PVUILUL[Z^OLUP[PZWYVIHISL
[OH[HUV\[V^VMYLZV\YJLZLTIVK`PUNLJVUVTPJ
ILUL[Z^PSSILYLX\PYLK[VZL[[SL[OLVISPNH[PVU
<LYTPUH[PVU ILUL[Z MHSSPUN K\L TVYL [OHU
twelve months after the balance sheet date are
provided on the basis of an actuarial valuation by
HUPUKLWLUKLU[HJ[\HY`HZH[[OL`LHYLUK\ZPUN
8YVQLJ[=UP[+YLKP[5L[OVK
X 4LHZLZ
(r)
Government Grants
Grants in the nature of subsidies related to revenue are recognized
PU[OL;[H[LTLU[VM8YV[HUK4VZZV]LY[OLWLYPVKPU^OPJO[OL
corresponding costs are incurred and are recorded on accrual
IHZPZ
U -TWSV`LLZOHYLIHZLKWH`TLU[Z
V <H_H[PVU
<H_ L_WLUZL JVTWYPZLZ J\YYLU[ HUK KLMLYYLK [H_ +\YYLU[ [H_ PZ
TLHZ\YLKH[[OLHTV\U[L_WLJ[LK[VILWHPKPUHJJVYKHUJL^P[O[OL
1UJVTL[H_)J[!,LMLYYLKPUJVTL[H_LZYLLJ[Z[OLPTWHJ[
VM J\YYLU[ `LHY [PTPUN KPMMLYLUJLZ IL[^LLU [H_HISL PUJVTL HUK
accounting income for the year and reversal of timing differences
VMLHYSPLY`LHYZ,LMLYYLK[H_PZTLHZ\YLKIHZLKVU[OL[H_YH[L
HUK [H_ SH^Z LUHJ[LK VY Z\IZ[HU[PHSS` LUHJ[LK H[ [OL IHSHUJL
ZOLL[ KH[L ,LMLYYLK [H_ HZZL[Z HUK 5)< JYLKP[ LU[P[SLTLU[ HYL
YLJVNUPZLKVUS`[V[OLL_[LU[[OH[[OLYLPZYLHZVUHISLJLY[HPU[`
[OH[ Z\MJPLU[ M\[\YL [H_HISL PUJVTL ^PSS IL H]HPSHISL HNHPUZ[
^OPJOZ\JOKLMLYYLK[H_HZZL[ZJHUILYLHSPZLK,LMLYYLK[H_HZZL[Z
are not recognised on unabsorbed depreciation and carry forward
VM SVZZLZ \USLZZ [OLYL PZ ]PY[\HS JLY[HPU[` [OH[ Z\MJPLU[ M\[\YL
[H_HISLPUJVTL^PSSILH]HPSHISLHNHPUZ[^OPJOZ\JOKLMLYYLK[H_
HZZL[ZJHUILYLHSPZLK
W 8YV]PZPVUZHUK+VU[PUNLU[4PHIPSP[PLZ
A provision is recognised when the enterprise has a present
obligation as a result of a past event and it is probable that an
V\[V^VMYLZV\YJLZ^PSSILYLX\PYLK[VZL[[SL[OLVISPNH[PVUPU
YLZWLJ[VM^OPJOHYLSPHISLLZ[PTH[LJHUILTHKL8YV]PZPVUZHYL
not discounted to their present values and are determined based
on management estimate required to settle the obligation at the
IHSHUJL ZOLL[ KH[L LZL HYL YL]PL^LK H[ LHJO IHSHUJL ZOLL[
KH[LHUKHKQ\Z[LK[VYLLJ[[OLJ\YYLU[THUHNLTLU[LZ[PTH[LZ
*HZPJLHYUPUNZWLYZOHYLHYLJHSJ\SH[LKI`KP]PKPUN[OLUL[WYV[
or loss for the period attributable to the equity shareholders
by the weighted average number of equity shares outstanding
K\YPUN[OLWLYPVKL^LPNO[LKH]LYHNLU\TILYVMLX\P[`ZOHYLZ
outstanding during the period is adjusted for events, such as
bonus issue, bonus element in a rights issue and shares split that
have changed the number of equity shares outstanding, without a
JVYYLZWVUKPUNJOHUNLPUYLZV\YJLZ.VY[OLW\YWVZLVMJHSJ\SH[PUN
,PS\[LK -HYUPUNZ WLY ZOHYL [OL UL[ WYV[ VY SVZZ MVY [OL WLYPVK
attributable to the equity shareholders and the weighted average
number of shares outstanding during the period is adjusted for
[OLLMMLJ[ZVMHSSKPS\[P]LWV[LU[PHSLX\P[`ZOHYLZ
L)JJV\U[PUN8VSPJPLZHKVW[LKMVYZLNTLU[YLWVY[PUNHYLPUSPUL
^P[O [OL )JJV\U[PUN 8VSPJPLZ VM [OL +VTWHU` ;LNTLU[ HZZL[Z
include all operating assets used by the business segments
HUK JVUZPZ[ WYPUJPWHSS` VM _LK HZZL[Z KLI[VYZ HUK PU]LU[VYPLZ
Segment liabilities include the operating liabilities that result
MYVT [OL VWLYH[PUN HJ[P]P[PLZ VM [OL I\ZPULZZ ;LNTLU[ HZZL[Z
and liabilities that cannot be allocated between the segments
are shown as part of unallocated corporate assets and liabilities
YLZWLJ[P]LS`1UJVTL-_WLUZLZYLSH[PUN[V[OLLU[LYWYPZLHZ^OVSL
and not allocable on a reasonable basis to business segments
HYLYLLJ[LKHZ\UHSSVJH[LKJVYWVYH[LPUJVTLL_WLUZLZ1U[LY
ZLNTLU[[YHUZMLYZHYLHJJV\U[LKH[WYL]HPSPUNTHYRL[WYPJLZ
] +HZOV^Z[H[LTLU[
LJVUZVSPKH[LKJHZOV^OHZILLUWYLWHYLKI`HNNYLNH[PVUVM
[OLPUKP]PK\HSJHZOV^HUKLSPTPUH[PVUZVMPU[LYJVTWHU`V^Z
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
113
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
` in crores
2.
SHARE CAPITAL
As at
31st March,2016
AUTHORISED
"-X\P[`ZOHYLZVM` 2 each
ISSUED, SUBSCRIBED AND PAID-UP
!
"!-X\P[`ZOHYLZVM`LHJOM\SS`WHPK\W
As at
31st5HYJO
50.00
50.00
41.31
41.31
(a) Reconciliation of the shares outstanding at the beginning and at the end of the reporting period
Equity shares
As at 31st March, 2016
At the beginning of the period
Add: Shares issued during the year
Outstanding at the end of the period
As at 31st5HYJO
Numbers
` in crores
Numbers
` in crores
!
!
206,534,900
41.31
206,534,900
41.31
6?-_WVY[Z4PTP[LK
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4PTP[LK
;\UV^LY1U]LZ[TLU[HUK<L_[PSLZ8YP]H[L4PTP[LK
As at 31st5HYJO
Numbers
Face Value of
OVSKPUN
`2
!
79,096,962
38.30
L 1UMVYTH[PVUYLNHYKPUNPZZ\LVMZOHYLZK\YPUNSHZ[]L`LHYZ
P 6VZOHYLZ^LYLHSSV[[LKW\YZ\HU[[VJVU[YHJ[Z^P[OV\[WH`TLU[ILPUNYLJLP]LKPUJHZO
PP 6VIVU\ZZOHYLZOH]LILLUPZZ\LK
PPP 6VZOHYLZOH]LILLUIV\NO[IHJR
(f)
=UKLYVYKLYZMYVT[OL;WLJPHS+V\Y[<YPHSVM7MMLUJLZYLSH[PUN[V<YHUZHJ[PVUZPU;LJ\YP[PLZ)J[!![OLHSSV[TLU[VMZOHYLZ
"ZOHYLZVMMHJL]HS\LVM`LHJOHNHPUZ[^HYYHU[ZJHYY`PUNYPNO[ZVMJVU]LYZPVUPU[VLX\P[`ZOHYLZVM[OL+VTWHU`OHZ
ILLURLW[PUHIL`HUJLPUHJJVYKHUJL^P[OZLJ[PVUVM[OL+VTWHUPLZ)J[[PSSZ\JO[PTLHZ[OL[P[SLVM[OLIVUHKLV^ULYPZJLY[PLK
I`[OLJVUJLYULK;[VJR-_JOHUNLZ
114
3.
As at
31st March,2016
` in crores
As at
31st5HYJO
!
!
!
*
!!
!!
!!
!
!
!
!
!
*
*
!!
!!
!
!!
1,244.89
1,510.78
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
4.
LONG-TERM BORROWINGS
Secured
Term Loans
MYVTIHURZ
MYVTV[OLYZ
Unsecured
.P_LK,LWVZP[Z
Share in jointly controlled entity
As at
31st March,2016
` in crores
As at
31st5HYJO
!
!
!
!
1,281.69
918.29
a)
P
PP <LYTSVHUHTV\U[PUN[V`JYVYLZ`JYVYLZPZZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLVU+VTWHU`pZWSHU[THJOPULY`H[
<L_[PSL8YVJLZZPUN=UP[H[:HUQHUNHVUHUK[OL8VS`LZ[LY,P]PZPVUH[8H[HSNHUNH:LWH`HISLPUOHSM`LHYS`PUZ[HSTLU[ZPU[OLUL_[`LHY
PPP <LYTSVHUHTV\U[PUN[V`6PS`!JYVYLZPZZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLVU+VTWHU`pZWSHU[HUKTHJOPULY`H[<L_[PSL
8YVJLZZPUN=UP[H[:HUQHUNHVUHUK[OL8VS`LZ[LY,P]PZPVUH[8H[HSNHUNHHUKZLJVUKJOHYNLVMWVY[PVUVM;WYPUN5PSSZSHUKI\PSKPUNZ
HUKZ[Y\J[\YL[OLYLVU
P] <LYTSVHUZHNNYLNH[PUN[V`JYVYLZ`!JYVYLZHYLZLJ\YLKI`YZ[ZLJVUKHY`WHYPWHZZ\JOHYNLV]LYWHY[VM
[OLSHUKVM[OL+VTWHU`H[<L_[PSL5PSSZH[5\TIHPHUKWSHU[HUKTHJOPULY`I\PSKPUNZHUKZ[Y\J[\YLZ[OLYLVU:LWH`HISLPUX\HY[LYS`
PUZ[HSSTLU[ZV]LY[OLUL_[[V`LHYZ
]
]PP <LYTSVHUZHNNYLNH[PUN[V`JYVYLZ`6PSHYLZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLV]LYWHY[VMSHUKVM[OL+VTWHU`H[
?VYSPHUKI\PSKPUN:LWH`HISLPUX\HY[LYS`PUZ[HSTLU[ZV]LY[V`LHYZ
b)
.P_LK,LWVZP[ZMYVTZOHYLOVSKLYZHUKW\ISPJHYLYLWH`HISLV]LY[OYLL`LHYZMYVT[OLKH[LVMKLWVZP[TH[\YPUNIL[^LLU2\S`HUK5HYJO
!
<LYT4VHUZHNNYLNH[PUN` JYVYLZ`JYVYLZHYLZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLVU[OL+VTWHU`pZL_PZ[PUNHZ^LSS
HZM\[\YL_LKHZZL[ZH[<L_[PSL8YVJLZZPUN=UP[H[:HUQHUNHVUHUK[OL8VS`LZ[LY,P]PZPVUH[8H[HSNHUNHV[OLY[OHU_LKHZZL[ZJOHYNLK
L_JS\ZP]LS`[V[LYTSLUKLYZ:LWH`HISLPUX\HY[LYS`PUZ[HSTLU[ZV]LY[OLYLTHPUPUNWLYPVKVM[V`LHYZ
<LYTSVHUHTV\U[PUN[V`JYVYLZ`JYVYLZPZZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLVMYLU[YLJLP]HISLZMYVTWYLTPZLZ
NP]LUVUSLHZLI`[OL+VTWHU`HUKZLJVUKJOHYNLVMWVY[PVUVM;WYPUN5PSSZSHUKHUKI\PSKPUNZHUKZ[Y\J[\YLZ[OLYLVU:LWH`HISLPU
TVU[OS`PUZ[HSTLU[ZV]LY[OLYLTHPUPUN`LHYZ
` in crores
5.
As at
As at
31st March,2016
31st5HYJO
<YHKLWH`HISLZ
!
,LWVZP[Z
!
10.44
6.85
116
` in crores
6.
As at
As at
31st March,2016
31st5HYJO
8YV]PZPVUMVYLTWSV`LLILUL[Z
8YV]PZPVUMVYJVTWLUZH[LKHIZLUJLZ
!
8YV]PZPVUMVYSV`HS[`SVUNZLY]PJLH^HYKZ
8YV]PZPVUMVY[LYTPUH[PVUILUL[Z:LMLY6V[LHUK
8YV]PZPVUMVYZHSLZ[H_MVYTZ:LMLY6V[LHILSV^
14.92
13.60
8YV]PZPVUMVYZHSLZ[H_MVYTZ
Balance as at the beginning of the year
Additions
3.10
2.73
Amounts utilised
Balance as at the end of the year
` in crores
7.
SHORT-TERM BORROWINGS
As at
As at
31st March,2016
31st5HYJO
Secured
?VYRPUNJHWP[HSKLTHUKSVHUZMYVTIHURZ
8HJRPUNJYLKP[MYVTIHURZ
!
*\`LYZ+YLKP[PU.VYLPNUJ\YYLUJ`
Unsecured
Bills discounted with banks
Intercorporate deposits
Share in jointly controlled entity
a)
!
844.57
527.21
] *\`LYpZ+YLKP[HNNYLNH[PUN`JYVYLZ`!JYVYLZPZZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLVUSHUKVM[OL+VTWHU`H[;WYPUN
5PSSZH[5\TIHPHKTLHZ\YPUNZX\HYLTL[YLZ
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
117
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
` in crores
8.
TRADE PAYABLES
As at
As at
31st March,2016
31st5HYJO
!
H
!
296.59
480.84
LK\LZWH`HISL[V5PJYVHUK;THSSLU[LYWYPZLZPZIHZLKVU[OLPUMVYTH[PVUH]HPSHISL^P[O[OL+VTWHU`HUK[HRLZPU[VHJJV\U[VUS`[OVZL
Z\WWSPLYZ^OVOH]LYLZWVUKLK[V[OLLUX\PYPLZTHKLI`[OL+VTWHU`MVY[OPZW\YWVZL
` in crores
9.
As at
As at
31st March,2016
31st5HYJO
+\YYLU[TH[\YP[PLZVMSVUN[LYTIVYYV^PUNZC:LMLY6V[LHHUKIE
<LYTSVHUZMYVTIHURZ
.P_LKKLWVZP[Z
Interest accrued and due on borrowings
Interest accrued but not due on borrowings
=UJSHPTLKTH[\YLKKLWVZP[Z
=UWHPKKP]PKLUKZ
Advances from customers
,LWVZP[Z
4PHIPSP[`PUYLZWLJ[VMMVY^HYKL_JOHUNLJVU[YHJ[Z
;[H[\[VY`K\LZPUJS\KPUNZLY]PJL[H_HUK^P[OOVSKPUN[H_
+YLKP[VYZMVYJHWP[HSL_WLUKP[\YL
-TWSV`LLILUL[ZWH`HISL
)JJY\LKL_WLUZLZ
Other liabilities
Share in jointly controlled entity
!
!!
680.23
!
!
!
!
540.87
H
,\YPUN[OL`LHY[OL+VTWHU`OHZ[YHUZMLYYLKHUHTV\U[VM`JYVYL`JYVYL[V[OL1U]LZ[VY-K\JH[PVU8YV[LJ[PVU.\UK
\UKLYZLJ[PVU)VM[OL+VTWHUPLZ)J[!LYLPZUVHTV\U[K\LMVYWH`TLU[[V[OL.\UKHZH[[OL`LHYLUK
b)
Interest accrued and due on borrowings represents interest due as on Balance Sheet date but debited by the bank after the Balance Sheet
KH[L
` in crores
As at
As at
31st5HYJO
8YV]PZPVUMVYLTWSV`LLILUL[Z
Provision for compensated absences
8YV]PZPVUMVY[LYTPUH[PVUILUL[Z
/YH[\P[`:LMLY6V[L
7[OLYZ:LMLY6V[LHUK
!
8YV]PZPVUMVYSV`HS[`SVUNZLY]PJLH^HYKZ
6.79
2.08
` in crores
10. SHORT TERM PROVISIONS
As at
As at
31st5HYJO
Other provisions
!
Provision for commercial and other matters (Refer Note (a) below)
!
Proposed dividend
8YV]PZPVUMVY[H_VUWYVWVZLKKP]PKLUK
34.73
40.39
41.52
42.47
11.96
10.41
!
!
10.34
10.09
Gross Block
Depreciation
Net Block
!
!
!
!
!
!
!!
7MJL-X\PWTLU[Z
8SHU[5HJOPULY`
! !
!!
!
!
!
.\YUP[\YL.P_[\YL
!
!
!
!
!
!
!
!
!
!
875.62
Freehold
4LHZLOVSK
Building #
Computers and
data processing
units
Motor Vehicles
Share in jointly
controlled entity
Total
1,407.41
10.09
9.65
375.88
1,031.97
531.79
32.90
8.52
153.23
402.94
629.03
)ZH[
!
!
6V[L"
H
LYLHYLUVHKQ\Z[TLU[Z[V[OL_LKHZZL[ZVUHJJV\U[VMIVYYV^PUNJVZ[HUKL_JOHUNLKPMMLYLUJLZK\YPUN[OL`LHY
I
)
KQ\Z[TLU[ZPUJS\KLZNYVZZISVJRHUKHJJ\T\SH[LKKLWYLJPH[PVUPUYLZWLJ[VM:HUQHUNHVUWSHU[JSHZZPLKHZHZZL[ZOLSKMVYZHSLYLMLYUV[LUVHUK`JYVYLILPUNL_JOHUNL
difference during the year
J
LJVTWHU`OHZNP]LUJVTTLYJPHSWYLTPZLZVUVWLYH[PUNSLHZL^OPJOMVYTWHY[VMP[ZWYLTPZLZH[6L]PSSL0V\ZL*HSSHYK-Z[H[LHUK+?HKPH1U[LYUH[PVUHS+LU[YL?VYSP;PUJL
VUS`HWVY[PVUVM[OLI\PSKPUNZHYLNP]LUVUSLHZL[OLNYVZZJHYY`PUNHTV\U[HUKHJJ\T\SH[LKKLWYLJPH[PVUVM[OLWYLTPZLZNP]LUVUSLHZLPZUV[ZLWLYH[LS`H]HPSHISL
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
119
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
12.
Description
<LJOUPJHS3UV^
How
Software
Total
)ZH[
` in crores
Gross Block
Depreciation
Net Block
Cost or book Additions Deductions Adjustments
Cost or
Balance
For the Deductions Adjustments Impairment
Balance
As at
As at
value as at
book value
as at
year
during the
as at
31-03-2016 31-03-2015
01-04-2015
as at
01-04-2015
year
31-03-2016
31-03-2016
!
14.85
!
0.07
0.01
0.21
14.70
11.54
1.46
*
0.17
!
12.83
1.87
3.31
As at
31st March,2016
-
Opening balance
4LZZ"+HWP[HSPZLKK\YPUN[OL`LHY
4LZZ"<YHUZMLYYLK[V:LHSLZ[H[LKL]LSVWTLU[^VYRPUWYVNYLZZ
Closing balance
` in crores
As at
31st5HYJO
!
!
` in crores
As at
31st5HYJO
As at
31st March,2016
1,900 "!-X\P[`ZOHYLZVM`LHJOPU*,;=YIHU1UMYHZ[Y\J[\YL
8][4[K
30,400 "-X\P[`ZOHYLZVM`LHJOPU;JHS;LY]PJLZ4[K
0.47
0.43
" -X\P[` ZOHYLZ VM ` LHJO PU 8LU[HS <L_[PSL
,LHSLYZ4[K
Investment in others (Valued at Cost)
!
100 ";OHYLZVM`LHJOPU:VOH1UK\Z[YPLZ)ZZVJPH[PVUZ
+VVWLYH[P]L+VUZ\TLYZ;VJPL[`4[KC``E
Equity shares Fully paid up (Quoted - Valued at Cost)
"-X\P[`;OHYLZVM`LHJOM\SS`WHPK\WPU+P[\YNPH
*PVJOLTPJHSZ4PTP[LK
" -X\P[` ;OHYLZ VM ` LHJO M\SS` WHPK \W PU
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" -X\P[` ;OHYLZ VM ` LHJO M\SS` WHPK \W PU
6H[PVUHS8LYV_PKL4PTP[LK
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Realty limited
!!
!!
!
54.38
!
54.40
120
As at
31st March,2016
!
` in crores
As at
31st5HYJO
!
!
!!
H
As at
31st March,2016
` in crores
As at
31st5HYJO
!
!
!
!
17.62
22.31
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8<.P]L;[HY<L_[PSL1UKVULZPHUL[
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4PTP[LK,LWVZP[
5.83
10.14
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
121
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
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As at
31st March,2016
!
!
1,812.82
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As at
31st5HYJO
!
1,190.74
H ,LWVZP[Z^P[OIHURZHYL\UKLYSPLUHZZLJ\YP[`MVYN\HYHU[LLZPZZ\LKVUILOHSMVM[OL+VTWHU`
17. INVENTORIES
(Valued at lower of cost and net realisable value)
:H^TH[LYPHSZCPUJS\KLZPU[YHUZP[`JYVYLZ`! JYVYLZE
?VYRPUWYVNYLZZ
.PUPZOLKNVVKZCPUJS\KLZPU[YHUZP[` JYVYL`JYVYLE
;[VJRPU<YHKL
Stores, spares and catalysts
:LHSLZ[H[LKL]LSVWTLU[^VYRPUWYVNYLZZ
Share in jointly controlled entity
As at
st
31 March,2016
!
680.31
` in crores
As at
31st5HYJO
!!
!
711.14
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VUWYVQLJ[Z^OPJOHYLKLSH`LKVY`L[[VILJVTTLUJLK5HUHNLTLU[L_WLJ[Z[VJVTTLUJL[OLZLWYVQLJ[ZPU[OLULHYM\[\YLHUKKVLZUV[L_WLJ[
HU`SVZZVU[OPZHJJV\U[
` in crores
18. TRADE RECEIVABLES
As at
As at
st
31 March,2016
st
31 5HYJO
Considered doubtful
! !
!
! !
!
!
4LZZ"8YV]PZPVUMVYKV\I[M\SYLJLP]HISLZ
7[OLYYLJLP]HISLZJVUZPKLYLKNVVK
Share in Jointly controlled entity
!
238.31
264.98
122
As at
31st March,2016
` in crores
As at
31st5HYJO
!
!
!
!
!
121.49
68.54
(a) Balances with banks in escrow accounts represents amounts held in escrow in accordance with the directions of the Monitoring Committee
MVYYLKL]LSVWTLU[VMSHUKVM+V[[VU<L_[PSL5PSSZ
(b) Bank deposits include restricted deposits as under :
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+VTWHU``!JYVYLZ`!JYVYLZ
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JYVYLZ
;OVY[[LYTKLWVZP[ZYLSH[PUN[VHTV\U[ZOLSK\UKLY-ZJYV^PUHJJVYKHUJL^P[O[OLSVHUHYYHUNLTLU[Z^P[OHJVUZVY[P\TVMIHURLYZ
`JYVYLZ`! JYVYLZ
H
As at
st
31 March,2016
` in crores
As at
31st5HYJO
!
!
177.17
!!
!!
!
286.25
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JVUK\J[)Z\P[OHZILLUSLKI`[OL+VTWHU`PU[OL0PNO+V\Y[VM2\KPJH[\YLVM5\TIHPHSSLNPUNMYH\K\SLU[TPZJVUK\J[LTH[[LYPZ
WLUKPUNILMVYL[OL+V\Y[
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123
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As at
31st March,2016
1.03
` in crores
As at
31st5HYJO
!
29.97
As at
31st March,2016
` in crores
As at
31st5HYJO
!
430.80
533.03
As at
31st March,2016
222.73
` in crores
As at
31st5HYJO
-
L+VTWHU`PZJVTTP[[LK[VHWSHU[VZLSS[OLHZZL[ZVM[OL:HUQHUNHVU=UP[HUKMVY[OPZW\YWVZLOHZLU[LYLKPU[VH[LYTZOLL[^P[OHWYVWVZLK
W\YJOHZLY[VZLSS[OLLU[PYLHZZL[ZPUJS\KPUNSHUKI\PSKPUNTHJOPULYPLZL[JVUZS\TWZHSLIHZPZ)JJVYKPUNS`[OLJHYY`PUNHTV\U[VM[OL:HUQHUNHVU
HZZL[ZOH]LILLUYLJSHZZPLKHZOLSKMVYZHSL
124
!!
!
!
!
!
!
1,457.35
!
2,036.34
2015-16
2015-16
` in crores
2015-16
` in crores
!
46.50
!
57.80
!!
899.96
` in crores
!
1,276.01
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67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
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!
Cotton
Fibre
AHYU
Grey cloth
,`LZHUKJOLTPJHSZ
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Others
Share in Jointly controlled entity
!!
!!
899.96
` in crores
!
1,276.01
` in crores
2015-16
!
!
!!
!!
!
!
!
!
!
(151.73)
!
(399.97)
126
2015-16
!!
102.46
` in crores
!
!
92.47
2015-16
!
!
289.92
` in crores
232.12
2015-16
34.36
` in crores
!
47.27
` in crores
2015-16
!
!
!!
!
!
!
!
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
127
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` in crores
2015-16
!
!
!
!
!
604.69
!
!
964.00
0.97
0.85
Payment to auditor
As an auditor :
Audit Fee
4PTP[LK:L]PL^
In other capacity:
+LY[PJH[PVUMLLZ
:LPTI\YZLTLU[VML_WLUZLZ
(` in crores)
31
CONTINGENT LIABILITIES
A
2015-16
+SHPTZHNHPUZ[[OLJVTWHU`UV[HJRUV^SLKNLKHZKLI[
(a) 1UJVTL[H_ TH[[LYZ PU YLZWLJ[ VM LHYSPLY `LHYZ \UKLY KPZW\[L PUJS\KPUN
interest of `JYVYLZC`JYVYLZEHZMVSSV^Z"
i
,LJPKLKPU+VTWHU`pZMH]V\YI`HWWLSSH[LH\[OVYP[PLZHUKKLWHY[TLU[
in further appeal
ii
8LUKPUNPUHWWLHSTH[[LYZKLJPKLKHNHPUZ[[OL+VTWHU`
(b) ;HSLZ<H_;LY]PJL<H_HUK-_JPZL,\[PLZ
(c) +\Z[VT,\[`
(d) Other Matters (Including claims related to real estate, employees and other
matters)
In respect of items (a) to (d) above, it is not possible for the Company to estimate
[OL [PTPUNZ VM JHZO V\[V^Z ^OPJO ^V\SK IL KL[LYTPUHISL VUS` VU YLJLPW[ VM
Q\KNTLU[ZWLUKPUNH[]HYPV\ZMVY\TZH\[OVYP[PLZ
!
!
!
!
!
(` in crores)
31
CONTINGENT LIABILITIES
B
2015-16
Guarantees
Counter indemnity for an amount of `!JYVYLZ`
JYVYLZPZZ\LKPUMH]V\YVM1,*1*HUR4PTP[LK^OPJOPU[\YUOHZN\HYHU[LLK
SVHUZNYHU[LKI`8\UQHI6H[PVUHS*HUR1U[LYUH[PVUHS4VUKVUHUK*HURVM
1UKPH2LYZL`[V8<.;ZLJ\YLKI`YZ[WHYPWHZZ\JOHYNLVUZX\HYL
TL[YLZVMSHUKH[+VTWHU`pZ;WYPUN5PSS,HKHY6HPNHVU[VNL[OLY^P[OHSS
I\PSKPUNZZ[Y\J[\YLZHUKLYLJ[PVUZ[OLYLVU
Corporate guarantee for an amount of `JYVYLZ`
JYVYLZ PZZ\LK PU MH]V\Y VM *HUR VM *HOYHPU 3\^HP[ *HOYHPU MVY SVHUZ
NYHU[LK [V 8<.; L +VTWHU` OHZ H WHYP WHZZ\ JOHYNL VU 8<.;pZ HZZL[Z
^OPJO^V\SKJV]LY[OLHMVYLZHPKPUKLTUP[`HTV\U[
32
-Z[PTH[LKHTV\U[VMJVU[YHJ[Z[VILL_LJ\[LKVUJHWP[HSHJJV\U[HUKUV[WYV]PKLK
for:
ii
iii
-_WVY[ VISPNH[PVU WLUKPUN \UKLY )K]HUJL 4PJLUZL ;JOLTL PZ ` JYVYLZ
`JYVYLZHUKK\[`ZH]LK[OLYLVU
` in crores
2015-16
!!
!
,\YPUN[OL`LHYW\YZ\HU[[V[OLZJOLTLVMHTHSNHTH[PVUIL[^LLU;JHS1U]LZ[TLU[Z4PTP[LK;14HUK[OL+VTWHU`ZHUJ[PVULKI`
the jurisdictional court on 20th)WYPS[OLHZZL[ZSPHIPSP[PLZHUKYLZLY]LZVM;14OHKILLU[YHUZMLYYLK[VHUK]LZ[LKPU[OL+VTWHU`^P[O
effect from 1st7J[VILYL[P[SLZPUYLZWLJ[VMJLY[HPUPTTV]HISLWYVWLY[PLZHTHSNHTH[LKPU[V[OL+VTWHU`HYLZ[PSSPU[OLWYVJLZZVM
[YHUZMLY
LWYVWVZLKZHSLHUK[YHUZMLYVM[OLLU[PYL=UKLY[HRPUNJVUZPZ[PUNVM[OL<L_[PSLMHJ[VY`WSHU[VM[OL+VTWHU`ZP[\H[LKH[:HUQHUNHVU
Maharashtra, on a slump sale basis as a going concern and on as is where is basis for a total consideration of `JYVYL\UKLY[OL<LYT;OLL[
ZPNULKI`[OL+VTWHU`VU5H`JV\SKUV[ILJVUZ\TTH[LKHUKHJJVYKPUNS`[OL+VTWHU`OHKMVYMLP[LK[OLKLWVZP[VM`SHJWHPK
I`[OLWYVWVZLKW\YJOHZLYLWYVWVZLKW\YJOHZLYOHZHNHPUYL]P]LK[OLVMMLYHUK[OL+VTWHU`OHZZPNULKHUV[OLY<LYT;OLL[KH[LK5HYJO
^P[O[OLZHTLWYVWVZLKW\YJOHZLYMVYZHSLVM[OL[L_[PSLWYVJLZZPUN\UP[H[:HUQHUNHVUVUHZS\TWZHSLIHZPZMVY[OLZHTL[V[HS
consideration of `JYVYLZLWYVWVZLKW\YJOHZLYPZYLX\PYLK[VKLWVZP[LHYULZ[TVUL`KLWVZP[VM` 23 crore in an escrow account before
[OLL_WPY`VMKH`ZMYVT[OLKH[LVML_LJ\[PVUVM[OL<LYT;OLL[L+VTWHU`PZHSZVJVUZPKLYPUNVMMLYZMVYZHSLVM]HJHU[SHUKZLWHYH[LS`
HZ^LSSHZTHRPUNLMMVY[Z[VZLSS[OLSHUKI\PSKPUNHUKTHJOPULY`ZLWHYH[LS`\UKLY[OLqHZZL[ZZHSLrYV\[L
*HZLKVU[OLHK]PJLVI[HPULKI`[OL+VTWHU`[OLWYLTP\TJOHYNLKI`[OL+VTWHU`VUZHSLVMHWHY[TLU[Z\UKLY[OLKLMLYYLKWH`TLU[
scheme compared to the price charged under the normal sales scheme is also considered as part of sales consideration and is recognised as
revenue under the percentage of completion method
L +VTWHU` ]PKL UV[PJL KH[LK th 2HU\HY` UV[PLK [OL JSVZ\YL VM P[Z [L_[PSL TPSSZ THU\MHJ[\YPUN \UKLY[HRPUN H[ ?VYSP W\YZ\HU[
[V^OPJOZVTLVM[OL[L_[PSL^VYRLYZHJJLW[LKHS[LYUH[LLTWSV`TLU[PU[OLJVTWHU`HUK[OLYLTHPUPUN^VYRLYZHJJLW[LKJSVZ\YLVM[OL
\UKLY[HRPUNHUKJVUZLX\LU[[LYTPUH[PVUVMZLY]PJLZ\UKLY[OLTLTVYHUK\TVMHNYLLTLU[ZPNULKI`[OL+VTWHU`^P[O[OL^VYRLYZ\UPVU1U
HJJVYKHUJL^P[O[OLHNYLLTLU[[OL+VTWHU`OHZWHPKWYV]PKLK[VZ\JOLTWSV`LLZ[OL[LYTPUHSK\LZJSVZ\YLJVTWLUZH[PVUHUKL_NYH[PH
JVTWLUZH[PVU?OPSZ[ZVTL^VYRLYZOH]LHJJLW[LKS\TWZ\TJVTWLUZH[PVUV[OLYZOH]LVW[LKMVYHTVU[OS`WH`TLU[\W[VHNLVY[PSS
KLTPZL^OPJOL]LYPZLHYSPLYLSPHIPSP[`PUYLZWLJ[VM[OLTVU[OS`WH`TLU[ZOHZILLUHJ[\HYPHSS`KL[LYTPULKHZVU[OL*HSHUJL;OLL[KH[L
at `JYVYLZ`JYVYLZI`[OLPUKLWLUKLU[HJ[\HY`)ZH[[OL[PTLVM[OLWYL]PV\Z]VS\U[HY`YL[PYLTLU[ZJOLTL[OLPUP[PHS
JVZ[YLSH[PUN[VL_NYH[PHJVTWLUZH[PVU^HZHKKLK[V[OLKL]LSVWTLU[JVZ[VMSHUKLHJ[\HYPHSNHPUSVZZ[VNL[OLY^P[O[OLPU[LYLZ[JVZ[
for the year amounting to ` JYVYLZ`JYVYLZOHZILLUYLJVYKLKPU[OL;[H[LTLU[VM8YV[4VZZ
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
129
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;LY]PJLZ4[KH/YV\WJVTWHU`PU[LYTZVM]HYPV\Z5LTVYHUK\TVM=UKLYZ[HUKPUN57=ZLU[LYLKIL[^LLU[OLJVTWHUPLZ[PSS5HYJO
*HZLKVU[OLTL[OVKVMHJJV\U[PUNWLYJLU[HNLVMJVTWSL[PVUMVSSV^LKI`[OLJVTWHU`UL[YL]LU\LVM`!JYVYLZ5HYJO
`JYVYLZHUK[OLYLZ\S[HU[WYV[ILMVYL[H_VM` JYVYLZ5HYJO`!JYVYLZOHZILLUYLJVNUPZLKK\YPUN[OL`LHY
LUKLK5HYJOPUYLZWLJ[VM[OLZHSLZ[V;+)4,\YPUN[OL`LHY;+)4OHZYLX\LZ[LK[OL+VTWHU`MVYJLY[HPUJVUJLZZPVUZVUNYV\UKZ
that due to the huge delays in construction by the Company, it had incurred substantial interest costs on account of its borrowings against
[OL\UZVSKPU]LU[VY`VMH[Z^OPJOJV\SKUV[ILZVSKK\L[V[OLKLSH`ZPU[OLWYVQLJ[8\YZ\HU[[V[OLYLX\LZ[[OL+VTWHU`JVUZPKLYPUN
[OLMHJ[ZHUKJPYJ\TZ[HUJLZ[OH[SLK[V;+)4pZPUHIPSP[`[VZLSS[OLH[ZOHZNYHU[LK;+)4KLMLYTLU[VMTPSLZ[VULWH`TLU[Z[PSS2\UL
VY[PSS[OLZHSLVMHSS\UZVSKH[ZHUKHSZVJVUZPKLYPUN[OH[;+)4^HZHI\SRJ\Z[VTLY^OVOHKW\YJOHZLKHSHYNLU\TILYVMH[ZHUKOHK
UV[YLJLP]LK[OLKPZJV\U[ZNP]LU[VV[OLYI\SRW\YJOHZLYZ[OL+VTWHU`YLK\JLK[OLHK]HUJLWH`TLU[THKLI`;+)4[V
HUKYLM\UKLK
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HUK^VYRJVTWSL[PVUZ[H[\Z,L[LYTPUH[PVUVMWYV[ZSVZZLZ[OLWLYJLU[HNLVMJVTWSL[PVUJVZ[Z[VJVTWSL[PVUHUKYLHSPZHIPSP[`VM[OL
JVUZ[Y\J[PVU^VYRPUWYVNYLZZ\UIPSSLKYL]LU\LZULJLZZZHYPS`PU]VS]LZTHRPUNLZ[PTH[LZI`[OL+VTWHU`ZVTLVM^OPJOILPUNVMH[LJOUPJHS
UH[\YLHYLILPUNYLSPLK\WVUI`H\KP[VYZ8YV[MYVT[OLZLJVU[YHJ[ZHUK]HS\H[PVUVMJVUZ[Y\J[PVU^VYRPUWYVNYLZZ\UIPSSLKYL]LU\LPZ
IHZLKVUZ\JOLZ[PTH[LZ
39 Pursuant to the Order of the Supreme Court dated August 2, 2013 and the Order of the Bombay High Court dated November 20, 2013
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JVUZVSPKH[PUNOHUKV]LYVISPNH[PVU[OL+VTWHU`OHKPU,LJLTILYNP]LUHK]HUJLWVZZLZZPVUVM !ZXT[YZVMSHUK[V5+/5
HUK !ZXT[YZVMSHUK[V50),)H[;WYPUN5PSSZ?HKHSHHM[LYJVTWSL[PVUVMULJLZZHY`IV\UKHY`^HSSHUKPU[LYUHSSSPUNSL]LSSPUN
;?,L[JHZWLY[OLWYV]PZPVUZVM,+: YLHK^P[O,+: HI*V[O5+/5HUK50),)OH]L[HRLUHK]HUJLWVZZLZZPVUVM[OL
ZHPKSHUKZWLUKPUNJVTWSL[PVUVMJLY[HPUHKTPUPZ[YH[P]LMVYTHSP[PLZ^OPJOHZWLY[OLJVTWHU`pZHYJOP[LJ[HYLYV\[PUL
)Z WLY [OL WYV]PZPVUZ VM ,+: HUK HZ JLY[PLK I` [OL +VTWHU`pZ )YJOP[LJ[Z [OL +VTWHU` PZ LU[P[SLK [V ,L]LSVWTLU[ :PNO[Z .;1 VM
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as under:
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2015-16
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2015-16
!
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Insurance Funds
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31st March, 2016
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Fair value of Plan Assets
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Current Service Cost
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Actuarial Assumptions
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2015-16
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31st March
Fair Value of Plan Assets as on 31st March
.\UKLK;[H[\ZC;\YWS\Z,LJP[E
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31st March
Fair Value of Plan Assets as on 31st March
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JVTWHUPLZKVUV[OH]LHU`LTWSV`LLZLQVPU[S`JVU[YVSSLKLU[P[`OHZJVTW\[LKWYV]PZPVUMVYHWWYLJPH[PVUHUKJVTWLUZH[PVU
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2009, provision of `JYVYLZ^HZTHKLPU[OPZILOHSMLJVTWHU`OHZUV[THKLHU`M\Y[OLYJVTW\[H[PVUVU[OPZZ[HUK[OH[
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Amount recognised as a liability in respect of compensated leave absences as per the acturial valuation as on March 31, 2016 is
` JYVYLZC`!JYVYLZE
ii
Amount recognised as a liability in respect of long service awards as per the acturial valuation as on March 31, 2016 is `
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Item covered under section 43B
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1961, recognised in view of timing difference in (a)
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Impairment of Assets
Net
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for the year
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31st March, 2016
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on 13th)\N\Z[LZJOLTL^HZHTLUKLKI`[OLZOHYLOVSKLYZH[[OL)UU\HS/LULYHS5LL[PUNOLSKVUrd July 2004 to incorporate
[OLHTLUKTLU[Z\UKLYL;[VJR7W[PVU/\PKLSPULZ]PKL;-*1JPYJ\SHYKH[LKth2\ULLZJOLTLOHZILLUM\Y[OLYHTLUKLKI`[OL
shareholders at the Annual General Meeting held on 7th)\N\Z[^OLYLPU[OLL_LYJPZLWYPJLZOHSSILIHZLKVU[OLTHYRL[WYPJLHZKLULK
PU[OL;-*1-TWSV`LL;[VJR7W[PVU;JOLTL/\PKLSPULZ!!!PLH[[OLSH[LZ[H]HPSHISLJSVZPUNTHYRL[WYPJLWYPVY[V[OLKH[LVM[OLTLL[PUN
VM[OL*VHYKVM,PYLJ[VYZVY:LT\ULYH[PVU+VTWLUZH[PVU+VTTP[[LLPU^OPJOVW[PVUZ^LYLNYHU[LK
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133
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L]LZ[PUNWLYPVKVM[OLVW[PVUPZVUL`LHYMYVT[OLKH[LVMNYHU[7W[PVUZNYHU[LK\UKLY[OL;JOLTLJHUILL_LYJPZLK^P[OPUHWLYPVKVM
[OYLL`LHYZMYVT[OLKH[LVM]LZ[PUN>LZ[PUNVMHUVW[PVUPZZ\IQLJ[[VJVU[PU\LKLTWSV`TLU[
=UKLY[OL;JOLTLK\YPUN[OLUHUJPHS`LHYZMYVT[V[OL+VTWHU`NYHU[LKVW[PVUZLHJOVW[PVUYLWYLZLU[PUN
one equity share of `LHJO7\[VM[OLZL!VW[PVUZ^LYLL_JLYZPZLKPU[VLX\P[`ZOHYLZHUKIHSHUJLVW[PVUZSHWZLK
On 7th)\N\Z[[OL*VHYKVM,PYLJ[VYZOHKNYHU[LKZ[VJRVW[PVUZZ[VJRVW[PVUZWVZ[Z\IKP]PZPVU[V[OL-_2VPU[
5HUHNPUN,PYLJ[VYVM[OL+VTWHU`H[HUL_LYJPZLWYPJLVM` `WVZ[Z\IKP]PZPVUWLYZOHYLMVY[OL`LHYZHUK
which options have vested on 7th)\N\Z[+VUZLX\LU[\WVU[OLZ\IKP]PZPVUVMZOHYLZVUHUKMYVTst October, 2012, the number of
VW[PVUZHUK[OLL_LYJPZLWYPJLOH]LILLUHWWYVWYPH[LS`HKQ\Z[LK
Method used for accounting of share based payment plan:
L +VTWHU` OHZ \ZLK PU[YPUZPJ ]HS\L TL[OVK [V HJJV\U[ MVY [OL JVTWLUZH[PVU JVZ[ VM Z[VJR VW[PVUZ [V [OL ?OVSL[PTL ,PYLJ[VY VM [OL
+VTWHU`1U[YPUZPJ]HS\LPZ[OLHTV\U[I`^OPJO[OLX\V[LKTHYRL[WYPJLVM[OL\UKLYS`PUNZOHYLL_JLLKZ[OLL_LYJPZLWYPJLVM[OLVW[PVU
Since the options under the Scheme were granted at the market price, the intrinsic value of the option is `6PS+VUZLX\LU[S`[OLHJJV\U[PUN
value of the option (compensation cost) is also `6PS
Movement in the options under the Scheme:
Options outstanding at the beginning of the year
Options granted during the year
Options vested during the year
7W[PVUZL_LYJPZLKK\YPUN[OL`LHY
Options lapsed during the year
=UL_JLYJPZLKVW[PVUV\[Z[HUKPUNHZH[[OLLUKVM[OL`LHY
7W[PVUZL_JPZHISLH[[OLLUKVM[OLWLYPVK
Weighted average price per option (`)
31st5HYJO
70,000
614
614
614
614
70,000
70,000
7W[PVUZOH]LILLU]HS\LKIHZLKVU.HPY>HS\L5L[OVKVMHJJV\U[PUNHZKLZJYPILK\UKLY/\PKHUJL6V[LVU)JJV\U[PUNMVY-TWSV`LL;OHYL
IHZLK8H`TLU[Z\ZPUN*SHJR;JOVSLZ]HS\H[PVUVW[PVUWYPJPUNTVKLS\ZPUN[OLTHYRL[]HS\LZVM[OL+VTWHU`pZZOHYLZHZX\V[LKVU[OL
6H[PVUHS;[VJR-_JOHUNL1M[OLZ[VJRIHZLKJVTWLUZH[PVUJVZ[^HZJHSJ\SH[LKHZWLY[OL.HPY>HS\LTL[OVKWYLZJYPILKI`;LJ\YP[PLZHUK
-_JOHUNL*VHYKVM1UKPH[OL[V[HSJVZ[[VILYLJVNUPZLKPU[OLUHUJPHSZ[H[LTLU[ZMVY[OLWLYPVK)WYPS[V5HYJO^V\SKHSZV
ILUPS
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Particulars
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,H[LVMNYHU[
Vesting period (years)
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Risk free rate
-_WLJ[LKKP]PKLUKZ
31st5HYJO
70,000
07th August, 2012
1
3
!
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value of share
134
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Particulars
5HYJO
31 March 2016
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Basic earnings per share (as reported)
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:HUNLVM-_LYJPZLWYPJLHUK^LPNO[LKH]LYHNLYLTHPUPUNJVU[YHJ[\HSSPMLVMV\[Z[HUKPUNVW[PVUZ
Grant Date
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70,000
,LYP]H[P]L1UZ[Y\TLU[Z\UOLKNLKMVYLPNUJ\YYLUJ`L_WVZ\YL
Purpose
As at
st
st
31 5HYJO
31 March, 2016
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0LKNLVML_[LYUHSJVTTLYJPHSIVYYV^PUNZ
raw material imports
!
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0LKNLVMYTJVTTP[TLU[ZOPNOS`WYVIHISL
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goods
As at
st
st
31 5HYJO
31 March, 2016
(a)
(b)
<YHKL:LJLP]HISLZ
=;,
-=:7
106,164
!
269,627
<YHKLHUK7[OLY8H`HISLZ
=;,
-=:7
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HUK5LHZ\YLTLU[pPZZ\LKI`L1UZ[P[\[LVM+OHY[LYLK)JJV\U[HU[ZVM1UKPH)JJVYKPUNS`[OLMVYLPNUL_JOHUNLNHPUSVZZVM`!
JYVYLZ`JYVYLZHZVUst5HYJOVUMVY^HYKMVYLPNUL_JOHUNLJVU[YHJ[ZLU[LYLKPU[V[VOLKNLYTJVTTP[TLU[Z
and highly probable forecast transactions, which qualify for hedge accounting, has been accounted under Hedging Reserve to be
\S[PTH[LS`YLJVNUPZLKPU[OLWYV[HUKSVZZHJJV\U[^OLU[OLMVYLJHZ[LK[YHUZHJ[PVUZHYPZL
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
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-HYUPUNZ8LY-X\P[`;OHYL
(` in crores)
2015-16
(i)
8YV[JVTW\[H[PVUMVYIV[OIHZPJHUKKPS\[LKLHYUPUNZWLYLX\P[`ZOHYLVM` 2 each:
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(ii) 6\TILYVM-X\P[`;OHYL
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(b)
!
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Basic (in `)
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leases are as follows:
As at
31st March, 2016
(` in crores)
As at
31st5HYJO
4LHZLYLU[L_WLUZLZ
(i) <V[HSVMTPUPT\TSLHZLWH`TLU[ZMVYHWLYPVK"
not later than one year
SH[LY[OHUVUL`LHYI\[UV[SH[LY[OHU]L`LHYZ
SH[LY[OHU]L`LHYZ
!
!
(ii) 4LHZLWH`TLU[ZYLJVNUPZLKPU[OLZ[H[LTLU[VMWYV[HUKSVZZMVY[OL`LHY
!
(iii) LSLHZLHNYLLTLU[ZHYLMVYHWLYPVKVMMV\Y`LHYZMVY]LOPJSLZHUKMVYHWLYPVKVMVUL[VUPUL`LHYZMVYYL[HPSZOVWZPUJS\KPUN
further periods for which the Company has the option to continue the lease of retail shop with the condition of increase in rent,
for a period of one year for godowns and for a period of 3 years for Retail Shops
I L+VTWHU`OHZNP]LUJVTTLYJPHSZWHJLVUVWLYH[PUNSLHZLLWHY[PJ\SHYZPUYLZWLJ[VMZ\JOSLHZLZHYLHZMVSSV^Z"
As at
31st March, 2016
4LHZLYLU[PUJVTL
(i) <V[HSVMSLHZLYLU[PUJVTLMVYHWLYPVK"
not later than one year
SH[LY[OHUVUL`LHYI\[UV[SH[LY[OHU]L`LHYZ
SH[LY[OHU]L`LHYZ
(` in crores)
As at
31st5HYJO
PP L KL[HPSZ Z\JO HZ NYVZZ JHYY`PUN HTV\U[ HJJ\T\SH[LK KLWYLJPH[PVU HUK KLWYLJPH[PVU MVY [OL J\YYLU[ `LHY HYL UV[ H]HPSHISL
ZLWHYH[LS`PUYLZWLJ[VM[OLWYVWLY[PLZNP]LUVUSLHZL
136
;LNTLU[:LWVY[PUN
(i)
1U[LYZLNTLU[YL]LU\L
<V[HSZLNTLU[YL]LU\L
=UHSSVJH[LKYL]LU\L
<L_[PSL
Polyester
:LHS-Z[H[L -SPTPUH[PVU
[578.09]
[-]
[578.09]
!
[1,364.05]
[2.70]
!
[1,366.75]
[444.23]
[-]
[444.23]
[25.10]
[(9.77)]
[302.69]
[461.57]
[758.74]
[2,596.44]
-
[164.36]
[483.84]
[147.12]
-
[6.33]
[14.38]
[26.12]
[23.91]
[23.57]
!
[8.53]
[-]
[(2.70)]
([2.70])
<7<)4
B
RESULT
1
;LNTLU[YLZ\S[VWLYH[PUNWYV[SVZZ
2
=UHSSVJH[LK-_WLUZLZ1UJVTL6L[
7WLYH[PUN8YV[
1U[LYLZ[-_WLUZLZ
Interest Income
1UJVTL<H_LZ
6L[8YV[
OTHER INFORMATION
1
Segment assets
2
=UHSSVJH[LKHZZL[Z
<V[HSHZZL[Z
Segment liabilities
=UHSSVJH[LKSPHIPSP[PLZ
<V[HSSPHIPSP[PLZ
(` in crores)
<V[HS
!
[2386.37]
!
[2,386.37]
[0.05]
!
[2,386.42]
[318.02]
[(73.51)]
[244.51]
!!
[(232.12)]
[18.80]
[(10.68)]
!!
[20.51]
!
[3,816.75]
!
[268.16]
!
[4,084.91]
!!
[795.32]
[1737.50]
[2532.82]
[56.02]
[47.27]
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
137
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
(i)
(ii)
<L_[PSL
Polyester
[6.64]
[7.94]
:LHS-Z[H[L -SPTPUH[PVU
[-]
[14.58]
;LNTLU[YL]LU\LMYVTL_[LYUHSJ\Z[VTLYIHZLKVU
geographical location of customers
Segment assets based on geographical location
+VZ[PUJ\YYLKK\YPUN[OL`LHY[VHJX\PYL_LKHZZL[Z
49
(` in crores)
<V[HS
!!
[2,048.59]
[3,754.75]
[55.36]
Rest of the
World
[337.78]
[62.00]
[0.66]
<V[HS
!
[2,386.37]
!
[3,816.75]
[56.02]
8LU[HS<L_[PSL,LHSLYZ4PTP[LK
*VTIH`,`LPUN:LHS-Z[H[L+VTWHU`4PTP[LK
)YJO^H`1U]LZ[TLU[+VTWHU`4PTP[LK\W[Vnd Oct 2014)
8<.P]L;[HY<L_[PSL1UKVULZPH
3L`5HUHNLTLU[8LYZVUULS"
5Y2LOHUNPY6?HKPH5HUHNPUN,PYLJ[VY
5Y>PUVK0PYHU+OPLM.PUHUJPHS7MJLY!th5H`[Vnd6V]
5Y3;\IOHYHTHU+VTWHU`;LJYL[HY`+VTWSPHUJL7MJLY
^LMst2\UL
5Y2HPYHQ+*OHT+VTWHU`;LJYL[HY`\W[Vst5H`
5Y:HNO\YHQ*HSRYPZOUH+OPLM.PUHUJPHS7MJLY\W[V
:LSH[P]LVM3L`5HUHNLTLU[8LYZVUULS"
th
5Y6\ZSP6?HKPH+OHPYTHU.H[OLYVM5HUHNPUN,PYLJ[VY
5Y6LZZ6?HKPH,PYLJ[VY*YV[OLYVM5HUHNPUN,PYLJ[VY
5YZ;HYVQ2HPYHQ*OHT;WV\ZLVM[OL+VTWHU`;LJYL[HY`
(upto 31st5H`
-U[P[PLZV]LY^OPJORL`THUHNLTLU[
WLYZVUULSHUKYLSH[P]LZL_LYJPZLZPNUPJHU[PU\LUJL"
Aug 2014)
/V)PYSPULZ1UKPH4PTP[LK
/SHKYHNZ5LKPH4[K
*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4[K
I <YHUZHJ[PVUZ^P[O:LSH[LK8HY[PLZ
Nature of transactions
I)
(i)
<YHUZHJ[PVUZ"
1U[LY+VYWVYH[L,LWVZP[Z)K]HUJLZNP]LU
*VTIH`,`LPUN:LHS-Z[H[L+V4[K
8<.P]L;[HY<L_[PSL1UKVULZPH
)YJO^H`1U]LZ[TLU[+VTWHU`4PTP[LK
(ii) :LWH`TLU[YLJLP]LKHNHPUZ[1+,)K]HUJLZ
*VTIH`,`LPUN:LHS-Z[H[L+V4[K
8<.P]L;[HY<L_[PSL1UKVULZPH
(iii) 1U[LYLZ[PUJVTLVU1+,)K]HUJL
*VTIH`,`LPUN:LHS-Z[H[L+V4[K
8<.P]L;[HY<L_[PSL1UKVULZPH
)YJO^H`1U]LZ[TLU[+VTWHU`4PTP[LK
(iv) -_WLUZLZPUJ\YYLKVUILOHSMVMYLSH[LKWHY[PLZ
(reimbursable)
8<.P]L;[HY<L_[PSL1UKVULZPH
(v)
/V)PYSPULZ1UKPH4PTP[LK
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4[K
/SHKYHNZ5LKPH4[K
-_WLUZLZPUJ\YYLKI`YLSH[LKWHY[PLZVUILOHSMVM+VTWHU`
(reimbursable)
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4[K
/SHKYHNZ5LKPH4[K
(` in crores)
3L` -U[P[PLZV]LY
^OPJO3L`
Management
8LYZVUULS Management
8LYZVUULS
their relatives
their relatives
L_LYJPZL
ZPNUPJHU[
PU\LUJL
(33.95)
(-)
(28.50)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
!
(4.50)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(0.91)
(-)
(1.68)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(3.68)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(0.71)
(0.58)
(0.07)
(-)
(-)
(-)
(-)
(-)
(-)
(0.43)
(0.12)
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
139
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
Nature of transactions
(vi) ,PYLJ[VYZZP[[PUNMLLZ
5Y6\ZSP6?HKPH
5Y6LZZ6?HKPH
(vii) Remuneration
5Y2LOHUNPY?HKPH
5Y2+*OHT
5Y:HNO\YHQ*HSRYPZOUH
5Y>PUVK0PYHU
5Y;\IOHYHTHU3YPZOUHU
Sale of goods
/V)PYSPULZ1UKPH4[K
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4[K
_P :LWH`TLU[VM.P_LK,LWVZP[Z
5YZ;HYVQ2HPYHQ*OHT
_PP 1U[LYLZ[WHPKVU.P_LK,LWVZP[Z
5YZ;HYVQ2HPYHQ*OHT
(` in crores)
3L` -U[P[PLZV]LY
^OPJO3L`
Management
8LYZVUULS Management
8LYZVUULS
their relatives
their relatives
L_LYJPZL
ZPNUPJHU[
PU\LUJL
(-)
(-)
(-)
(-)
(0.02)
(0.03)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(5.87)
(0.64)
(0.75)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(17.11)
(-)
(-)
(-)
(-)
(-)
(1.84)
(-)
(-)
(-)
(-)
(-)
(-)
(0.03)
(0.01)
(-)
(-)
(0.02)
(-)
(-)
(-)
(0.01)
(-)
140
Nature of transactions
II)
/V)PYSPULZ1UKPH4PTP[LK
/SHKYHNZ5LKPH4[K
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4[K
VI)
,LWVZP[NP]LU
L*VTIH`*\YTHO<YHKPUN+VYWVYH[PVU4[K
Guarantee and collaterals given
8 <.P]L;[HY<L_[PSL1UKVULZPHC:LMLYMVV[UV[LIE
VII) .P_LK,LWVZP[)JJLW[LK
5YZ;HYVQ2HPYHQ*OHT
(` in crores)
Associate Joint Venture
3L` -U[P[PLZV]LY
^OPJO3L`
Companies
Companies Management
8LYZVUULS Management
their relatives 8LYZVUULS
their relatives
L_LYJPZL
ZPNUPJHU[
PU\LUJL
(-)
(-)
(-)
(-)
!
(15.89)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(0.40)
(0.02)
(0.16)
(29.45)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(0.57)
(0.28)
(-)
(-)
(-)
(15.22)
(-)
(-)
(-)
(-)
(-)
(3.00)
(-)
!
(203.58)
(-)
(-)
(-)
(-)
(0.12)
(-)
Notes:
H ,P]PKLUKWHPKOHZUV[ILLUJVUZPKLYLKI`[OL+VTWHU`HZH[YHUZHJ[PVUMHSSPUN\UKLY[OLW\Y]PL^VM)JJV\U[PUN;[HUKHYK
q:LSH[LK8HY[`,PZJSVZ\YLZr
I /\HYHU[LLZ HUK JVSSH[LYHSZ [V 8< .P]L ;[HY <L_[PSL 1UKVULZPH HYL ZLJ\YLK I` H pari passu charge on the assets of the joint
]LU[\YL
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
141
67<-;[VJVUZVSPKH[LKUHUJPHSZ[H[LTLU[ZMVY[OL`LHYLUKLK 5HYJO
Z[
+VYWVYH[L;VJPHS:LZWVUZPIPSP[`;[H[LTLU[+;:
L JVTWHU` ^HZ YLX\PYLK [V ZWLU[ ` JYVYLZ [V^HYKZ +;: K\YPUN [OL `LHY PU HJJVYKHUJL ^P[O [OL WYV]PZPVUZ VM ;LJ[PVU VM [OL
+VTWHUPLZ)J[0V^L]LY[OLJVTWHU`OHZZWLU[Z\TVM`JYVYLZ[V^HYKZ+OLUUHP.SVVK:LSPLM)JJVYKPUNS`[OLYLPZHZOVY[MHSSPU
CSR spent by `JYVYLZK\YPUN
LUHUJPHSZ[H[LTLU[ZOH]LUV[ILLUZPNULKI`[OL+VTWHU`;LJYL[HY`HZYLX\PYLK\UKLY[OLWYV]PZPVUVM;LJ[PVUVM[OL+VTWHUPLZ
)J[JVUZLX\LU[[VOPZYLZPNUH[PVU^P[OLMMLJ[MYVT)WYPS
)KKP[PVUHSPUMVYTH[PVUHZYLX\PYLK\UKLY;JOLK\SL111[V[OL+VTWHUPLZ)J[VMLU[LYWYPZLZJVUZVSPKH[LKHZ;\IZPKPHY`)ZZVJPH[LZ2VPU[
>LU[\YL
Name of the entity in the
6L[)ZZL[ZPL[V[HSHZZL[Z
minus total liabilities as at
31st March 2016
;OHYLPUWYV[VYSVZZMVY
.A
6L[)ZZL[ZPL[V[HSHZZL[Z
minus total liabilities as at
31st5HYJO
;OHYLPUWYV[VYSVZZMVY
.A
)Z
VM
)Z
VM
)Z
VM
Amount
Amount
Amount
)Z
VM
Amount
consolidated ( ` in crores) consolidated ( ` in crores) consolidated ( ` in crores) consolidated ( ` in crores)
WYV[VYSVZZ
net assets
WYV[VYSVZZ
net assets
1
(I)
Parent
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN
+VTWHU`4[K
(II)
Subsidiary
!
!
!
Indian
)YJO^H`1U]LZ[TLU[Z+V4[K
8<.P]L;[HY<L_[PSL
106.37%
1,368.07
95.42%
(86.92)
103.47%
1,605.94
100.79%
20.51
!
Minority Interest
!
!
100.00%
1,286.20
100.00%
(91.09)
100.00%
1,552.09
100.00%
20.35
;OHYLPU8YV[4VZZPUHZZVJPH[LZ
TOTAL
;OHYLPU2VPU[>LU[\YL
L/YV\WpZZOHYLVM[OLHZZL[ZSPHIPSP[PLZPUJVTLL_WLUZLZL[JLHJO^P[OV\[LSPTPUH[PVUVM[OLLMMLJ[VM[OL[YHUZHJ[PVUZIL[^LLU[OL
/YV\WHUK[OL2VPU[>LU[\YLYLSH[LK[VP[ZPU[LYLZ[ZPU[OLQVPU[]LU[\YLIHZLKVU[OLH\KP[LKUHUJPHSZ[H[LTLU[HYL"
6HTLVM[OLQVPU[]LU[\YLJVTWHU`"8<.P]L;[HY<L_[PSL1UKVULZPH8<.;1UJVYWVYH[LKPU1UKVULZPH8LYJLU[HNLOVSKPUN" !
As at 31st Dec, 2015
H );;-<;
.P_LK)ZZL[Z
Inventories
<YHKLYLJLP]HISLZ
Cash and bank balances
;OVY[[LYTSVHUZHUKHK]HUJLZ
Other current assets
Other Non current assets
!
!
!
53.65
As at 31st,LJ
!
!
47.78
142
41)*141<1-;
4VUN[LYTIVYYV^PUNZ
;OVY[[LYTIVYYV^PUNZ
<YHKLWH`HISLZ
Other current liabilities
62.44
.VYLALHY
Ended 2015
As at 31st,LJ
!
!
76.62
.VYLALHY
-UKLK
L+VTWHU`pZPU[LYLZ[PU[OPZ2VPU[>LU[\YLPZYLWVY[LKHZ6VUJ\YYLU[PU]LZ[TLU[:LMLY6V[LHUKPZZ[H[LKH[JVZ[L+VTWHU`ZZOHYL
VMLHJOVM[OLHZZL[ZSPHIPSP[PLZPUJVTLL_WLUZLZL[JLHJO^P[OV\[LSPTPUH[PVUVM[OLLMMLJ[VM[YHUZHJ[PVUIL[^LLLU[OL+VTWHU`HUK[OL
2VPU[>LU[\YLYLSH[LK[VP[ZPU[LYLZ[PU[OPZQVPU[]LU[\YLIHZLKVU[OLH\KP[LKUHUJPHSZ[H[LTLU[ZHYLHZHIV]L
.PN\YLZPU*YHJRL[ZPUKPJH[LJVYYLZWVUKPUNN\YLZMVY[OLWYL]PV\Z`LHY
8YL]PV\Z`LHYN\YLZOH]LILLUYLNYV\WLK^OLYLULJLZZHY`
As per our report attached
FOR KALYANIWALLA & MISTRY
Chartered Accountants
.PYT:LNPZ[YH[PVU6V?
Ermin K. Irani
Partner
5LTILYZOPW6V
Mumbai, 27th May, 2016
6=;416?),1)
Chairman
CFO
.VYHUKVUILOHSMVM[OL*VHYKVM,PYLJ[VYZ
:);0)0
;;3-43):
;:)/7<0)5)6
)301:2-;58)41)
;0--4)*01,1;0))<0=;;)16
6-;;6?),1)
Directors
L*VTIH`,`LPUN)UK5HU\MHJ[\YPUN+VTWHU`4PTP[LK | )UU\HS:LWVY[
143
.7:5)7+1
PART A : SUBSIDIARIES INFORMATION
;Y6V
Name of Subsidiary
!
Particulars
Reporting period for the subsidiary concerned, if different from the holding
JVTWH`pZYLWVY[PUNWLYPVK
:LWVY[PUNJ\YYLUJ`HUKL_JOHUNLYH[LHZVU[OLSHZ[KH[LVM[OLYLSL]HU[
Financial year in the case of foreign subsidiaries
Share Capital
:LZLY]LZ;\YWS\Z
<V[HS)ZZL[Z
<V[HS4PHIPSP[PLZ
Investments
<\YUV]LY[V[HSPUJVTL
8YV[ILMVYL[H_H[PVU
8YV]PZPVUMVY[H_H[PVU
8YV[HM[LY[H_H[PVU
8YVWVZLK,P]PKLUK
VM;OHYLOVSKPUN
,L[HPSZ
,L[HPSZ
Archway Investment
Archway Investment
+VTWHU`4PTP[LK
+VTWHU`4PTP[LK
.PUHUJPHS`LHY)WYPS Financial year April 1, 2014
5HYJO
5HYJO
6)
6)