Home  »  Company  »  Aditya Birla Nuvo  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Aditya Birla Nuvo Ltd.

Mar 31, 2015

NOTE: 1

DISCONTINUING OPERATIONS

The Company, in its Committee of Directors meeting held on 6th April, 2013, had decided to divest the Carbon Black business with effect from 1st April, 2013, on a going concern basis, by way of a slump sale, to SKI Carbon Black (India) Private Limited.

In accordance with approval given by the shareholders, the Company had accounted for slump sale of Carbon Black business (identified as reportable segment under AS-17) with effect from 1st April, 2013, on a going concern basis to SKI Carbon Black (India) Private Limited pursuant to Business Transfer Agreement entered into with them and accordingly, in the previous year, a gain of Rs. 24.06 Crore on the said slump sale had been recognised as an exceptional item and a net tax credit of Rs. 40.70 Crore (including reversal of deferred tax credit) had been netted off with the tax expense.

NOTE: 2

RETIREMENT BENEFITS

Disclosure in respect of Employee Benefits pursuant to Accounting Standard-15 (Revised)

(a) The details of the Company''s Defined Benefit Plans in respect of Gratuity (funded by the Company): General Description of the Plan

The Company operates gratuity plan through a trust wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each completed year of service. The same is payable on termination of service or retirement, whichever is earlier. The benefit vests after five years of continuous service. In case of some employees, the Company''s scheme is more favourable as compared to the obligation under Payment of Gratuity Act, 1972.

NOTE: 3

LIST OF RELATED PARTIES PARTIES WHERE CONTROL EXIST SUBSIDIARIES

Aditya Birla Financial Services Limited (ABFSL) (formerly Aditya Birla Financial Services Private Limited)

Aditya Birla Capital Advisors Private Limited (ABCAPL)

Aditya Birla Customer Services Limited (ABCSL) (formerly Aditya Birla Customer Services Private Limited)

Aditya Birla Trustee Company Private Limited (ABTCPL)

Aditya Birla Money Limited (ABML)

Aditya Birla Commodities Broking Limited (ABCBL)

Aditya Birla Financial Shared Services Limited (ABFSSL)

Aditya Birla Finance Limited (ABFL)

Aditya Birla Securities Private Limited (ABSPL) (up to 10th September, 2014)

Aditya Birla Insurance Brokers Limited (ABIBL)

Birla Sun Life Asset Management Company Limited (BSAMC)

Birla Sun Life AMC (Mauritius) Ltd.

Aditya Birla Sun Life AMC Ltd., Dubai

Aditya Birla Sun Life AMC Pte. Ltd., Singapore

India Advantage Fund Ltd. (IAFL)

International Opportunities Fund SPC (IOF)

Birla Sun Life Trustee Company Private Limited (BSTPL)

Aditya Birla Housing Finance Ltd. (ABHFL) (formerly LIL Investment Limited)

Aditya Birla Money Mart Limited (ABMML)

Aditya Birla Money Insurance Advisory Services Limited (ABMIASL)

ABNL IT & ITES Limited (IT&ITES)

Aditya Birla Minacs BPO Private Limited (ABMBPL)

Aditya Birla Minacs Worldwide Limited (ABMWL) (up to 8th May, 2014)

Aditya Birla Minacs Philippines Inc. (ABMPI) (up to 8th May, 2014)

AV TransWorks Limited. (AVTL) (up to 8th May, 2014)

Aditya Birla Minacs Worldwide Inc. (ABMWI) (up to 8th May, 2014)

Aditya Birla Minacs BPO Limited (ABMBL) (up to 8th May, 2014)

Minacs Worldwide SA de CV (MWSC) (up to 8th May, 2014)

The Minacs Group (USA) Inc. (MGI) (up to 8th May, 2014)

Bureau of Collection Recovery, LLC (BCR) (up to 8th May, 2014)

Bureau of Collections Recovery (BCR) Inc. (up to 8th May, 2014)

Minacs Limited (ML) (up to 8th May, 2014)

Minacs Worldwide GmbH (MWGH) (up to 8th May, 2014)

Minacs Kft. (up to 8th May, 2014)

Aditya Vikram Global Trading House Limited (AVGTHL) (up to 29th September, 2014)

Birla Sun Life Insurance Company Limited (BSLICL)

Birla Sun Life Pension Management Limited (BSLPML) (w.e.f. 19th January, 2015)

ABNL Investment Limited (ABNL Inv)

Shaktiman Mega Food Park Private Limited (SMFP)

Madura Garments Lifestyle Retail Company Limited (MGLRCL)

Indigold Trade and Services Limited (ITSL)

Pantaloons Fashion & Retail Limited (PFRL)

OTHER RELATED PARTIES JOINT VENTURES

IDEA Cellular Limited (IDEA) ASSOCIATES

Birla Securities Limited (BSL) (up to 14th November, 2014) K

EY MANAGEMENT PERSONNEL (KMP)

Mr. Lalit Naik - Managing Director (Deputy Managing Director upto 30th June, 2014)

Mr. Sushil Agarwal - Whole-time Director

Dr. Rakesh Jain - Managing Director (Upto 30th June, 2014)

ENTERPRISES HAVING COMMON KEY MANAGEMENT PERSONNEL (KMP)

Aditya Birla Science & Technology Company Private Limited (ABSTCPL) (Common KMP Mr. Lalit Naik) (w.e.f. 30th March, 2015)

NOTE: 4

OTHER SIGNIFICANT NOTES

(i) The Company has presented segment information in its Consolidated Financial Statements, which are part of the same annual report. Accordingly, in terms of provisions of Accounting Standard on Segment Reporting (AS-17) no disclosure related to the segment are presented in the Standalone Financial Statements.

(ii) The Company is one of the Promoter members of Aditya Birla Management Corporation Private Limited, a Company limited by guarantee which has been formed to provide a common pool of facilities and resources to its members, with a view to optimise the benefits of specialisation and minimize cost to each member. The Company''s share of expenses under the common pool has been accounted for under the appropriate head.

(iii) The Company has a process whereby periodically all long-term contracts are assessed for material foreseeable losses. At the year end, the Company has reviewed and ensured that adequate provision as required under any law/accounting standards for material foreseeable losses on such long-term contracts has been made in the books of account.

(iv) The Company''s pending litigations comprise of claims by or against the Company primarily by the workers/employees/ customers/suppliers, etc., and proceedings pending with tax and other government authorities. The Company has reviewed its pending litigations and proceedings and has adequately provided for where Provisions are required and disclosed the contingent liabilities where applicable, in its financial statements. The Company does not expect the outcome of these proceedings to have a materially adverse effect on its financial results. In respect of litigations, where the management assessment of a financial outflow is probable, the Company has made adequate provision in the financial statements and appropriate disclosure for contingent liabilities is given in Note 25.

(v) ABNL IT & ITeS Limited, a wholly owned subsidiary of the Company, at its meeting of the Board of Directors, held on 30th January, 2014, had approved the divestment of shares held by it in its IT-ITeS subsidiary, Aditya Birla Minacs Worldwide Limited, and had executed a Share Purchase Agreement with a group of investors led by Capital Square Partners and CX Partners subject to fulfilment of requisite consents and approvals.

All requisite consents and approvals which were part of closing conditions had been completed. With this divestment, Aditya Birla Minacs Worldwide Limited and its eleven subsidiaries ceased to be subsidiaries of Aditye Birla Nuvo Limited, with effect from 9th May, 2014.

(vi) The Board of Directors of Aditya Birla Nuvo Limited (the Company) at its meeting held on May 03, 2015, have considered and approved a Composite Scheme of Arrangement between the Company, Madura Garments Lifestyle Retail Company Limited (MGLRCL) (100% subsidiary) and Pantaloons Fashion & Retail Limited (PFRL) (72.62% subsidiary) and their respective shareholders and creditors u/s Sections 391 to 394 of the Companies Act, 1956 ["Composite Scheme"].

Pursuant to the said scheme Madura Fashion, a branded apparel retailing division of the Company and Madura Lifestyle, a luxury branded apparel retailing division of MGLRCL will be demerged into PFRL. Shareholders to the Company will get 26 new equity shares of PFRL for every 5 equity shares held in the Company pursuant to demerger of Madura Fashion. Shareholders of MGLRCL will get 7 new equity shares of PFRL for every 500 equity shares held in MGLRCL. Preference shareholders of MGLRCL will get 1 new equity share of PFRL. After the scheme of arrangement new holding of the Company (directly and through other subsidiaries) in PFRL would be 9.06%.

The Scheme is subject to the necessary statutory and regulatory approvals including approvals of the respective High Courts, the Stock Exchanges, SEBI, the respective Shareholders and lenders/creditors of each of the companies involved in the Composite Scheme. The appointed date of the Scheme will be 1st April, 2015, and expected to be consummated in next 6 to 9 months.

(vii) Figures of Rs. 50,000 or less have been denoted by ''ß''.

(viii) Previous Year''s figures have been regrouped/rearranged, wherever necessary.


Mar 31, 2014

NOTE: 1

CONTINGENT LIABILITIES NOT PROVIDED FOR

(a) Claims against the Company not acknowledged as debts Rs. in Crore

Nature of Brief Description of Contingent Liabilities As at 31st As at 31st Statute March, 2014 March,2013

Customs Duty, Departmental appeal against CESTAT order for deleting demand of 2.04 2.04 Customs Act, payment of duty for non-fulfilment of provision of EXIM policy related to 1942 Advance Licence obtained by Madura Coats Ltd.

Demand of Differential Custom Duty on acquisition of ENKA 1.27 -- Technical Know-how.

Various other cases pertaining to demand of counter-vailing duty and 1.91 0.33 additional duties on imports, supplementary Drawback claim, etc.

Excise Duty, Show cause-cum-demand notice for simultaneous availment of — 10.88 Central Excise C.E. Not. 29/04 & 30/04 date 09.07.2004 for the period 2004-05 to Act, 1944 2006-07. The matter since has been decided in favour of the Company.

Show cause-cum-demand notice alleging that mixing of duty paid 1.62 1.62 dyes amounts to manufacture and attracts duty for the period from March 1986 to September 1988.

Show cause-cum-demand notice for availment of Cenvat Credit on 1.01 1.01 capital goods used exclusively for manufacture of exempted goods for the period from April 2005 to March 2007.

Demand for payment of duty for removal of Refinished Imported 2.03 2.03 Garments without paying duty.

Demand of duty for alleged wrong availment of benefit of exemption 8.25 8.25 under Notification 38/2003-CE in respect of readymade garments procured from job workers.

Show cause-cum-demand notice of excise duty on inclusion of 1.43 1.06 Type Test Charges with the value of insulators.

Demand for reversal of Cenvat Credit on CBFS and other inputs — 35.96 allegedly to be used for manufacturing of electricity sold outside for the period 2006 to September 2011. Carbon Black business was divested by way of slump sale to M/s. SKI Carbon Black India Pvt. Ltd., w.e.f. 01.04.2013 and, hence, liability transferred to new entity.

Demand for reversal of Cenvat Credit on CBFS alleged to be used for — 3.54 generation of Steam sold outside. Carbon Black business was divested by way of slump sale to M/s. SKI Carbon Black India Pvt. Ltd., w.e.f. 01.04.2013 and, hence, liability transferred to new entity.

Various cases demanding duty on removal of refinished imported 5.74 6.59 goods, reversal of credit on inputs used for manufacturing dutiable and exempted goods, etc.

Service Tax, Show cause-cum-demand notices for availment of Cenvat Credit of 2.25 2.25 Finance Act, Service Tax paid on commission to overseas agents since services are 1994 not falling under input service for the period from April 2005 to March 2010.

Demand for Cenvat Credit of Service Tax taken on Goods Transport 3.85 4.07 Agency Service on outward transportation from place of removal till buyers'' place.

Show cause-cum-demand notice for reversal of Cenvat Credit of 1.05 1.05 Service Tax on Business Auxiliary Services.

Demand of Service Tax Due to mismatch of Freight Inward declared in 1.23 0.42 ER-4 and ST-3 Returns.

Various other cases pertaining to disallowance of Cenvat Credit of 2.53 2.90 Service Tax on commission paid to overseas agent, in GTA services, service for outward transportation and other services alleging not be classified as input services for availment of Cenvat Credit, etc.

Sales Tax, Non-receipt of C & F forms, disallowance of Input Tax Credit (ITC) on 9.98 9.98 Commercial purchases by Power Plant, reversal of ITC, for AY 2006-07. Tax Act

Demand for Short of Form H, I and C, Input Tax Credit Short adjusted on 5.37 5.16 Stores Spares.

Demand for Short of Form 12A on sale to local party who subsequently 1.56 1.79 exported the goods.

Sales tax demand on export to Nepal. — 1.50

Various other cases in respect of Short of Form H, I and C, disallowance 1.75 1.71 of input credit, tax demand on freight charges and on export to Nepal.

Income-tax Various Department Appeals in ITAT, High Court on 14A disallowance, 36.18 37.70 Act, 1961 disallowance of additional depreciation, disallowance of depreciation on goodwill and various matters.

Various other cases in respect of Short of Form H, I and C, disallowance 2.16 4.31 of input credit, tax demand on freight charges and on export to Nepal.

Others Statutes Labour Reinstatement and Workmen Compensation cases. 6.82 6.20

Water drawal charges for the period of April 1999 to till date. 69.72 59.70

Claim by PEDEEE Syria for late supply under different contracts. 6.24 5.38

Railways demanded Land Licence Fees, in 2008, for the land used for 5.12 5.26 constructing and connecting siding with Railway at Sindurwa since 1988.

Demand letter issued by UPSIDC for making payment of maintenance 18.23 15.27 charges on land allotted in 1983.

Various other cases pertaining to Industrial Disputes, Railways Licence 22.07 19.20 Fee demand, Textile Cess on readymade garments, claims made by clients on sale of securities and other Civil cases.

Grand Total 221.41 257.16

(b) Bills Discounted with Banks 38.17 75.86

(c) Corporate Guarantees given to Banks for loans taken by subsidiaries 705.53 1,928.79

(d) Corporate Guarantees given in connection with performance obligation of the subsidiaries 12.10 106.86

(e) Under the Jute Packaging Material (Compulsory use of Packing Commodities) Act, 1987, a specified percentage of fertilisers dispatched was required to be supplied in jute bags upto 31st August, 2001. The Company made conscious efforts to use jute packaging material as required under the said Act. However, due to non-availability of material as per the Company''s product specifications as well as due to strong customer resistance to use of jute bags, the specific percentage could not be adhered to. The Company has received a show cause notice, against which a writ petition has been filed with the Hon''ble High Court, which is awaiting for hearing. The Jute Commissioner, Kolkata, had filed transfer petition, various writ petitions have been filed in different High Courts by other aggrieved parties, including the Company, before the Hon''ble Supreme Court of India praying for consolidation of all cases at one Court. The transfer petition is pending before the Hon''ble Supreme Court. The Company has been advised that the said levy is bad in law.

(e) Transfer of investments in IDEA Cellular Ltd. (IDEA) and Birla Sun Life Insurance Co. Ltd. is restricted by the terms contained in their respective joint venture agreements. Non-disposal undertakings for IDEA, Aditya Birla Finance Limited, Pantaloons Fashion & Retail Limited, Aditya Birla Minacs Worldwide Limited and Madura Garments Lifestyle Retails Company Limited investments have also been provided to certain Banks for respective credit facilities extended by them.

Pursuant to the Shareholders'' Agreement entered into with the Joint Venture partner, the Company has, in respect of Birla Sun Life Insurance Company Limited, agreed to infuse its share of capital from time to time to meet the solvency requirement prescribed by the regulatory authority.

(f) Madura Garments Lifestyle Retail Company Limited (MGLRCL), a subsidiary of the Company, has issued Zero Coupon Non-Convertible Debenture (NCD) aggregating Rs. 300 Crore. The Company has entered into an option agreement with the holders of such NCD pursuant to which the holders have put option on the Company, and the Company has call option on the holders on expiry of 24 months from the date of allotment of NCD at a pre-agreed price. Further, on happening of certain events, the put option can also be exercised by the holders on the Company on any other date on happening of such events.

(g) Aditya Birla Finance Limited (ABFL), a subsidiary of the Company, has issued 10.20% Non-Convertible sub-ordinate Debenture (NCD) aggregating Rs. 300 Crore. The Company has entered into an option agreement with the holders of such NCD, pursuant to which the holders have put option on the Company, and the Company has call option on the holders on expiry of 36 months from the date of allotment of NCD. Further, on happening of certain events, the put option can also be exercised by the holders on the Company on any other date on happening of such events.

(h) The Company has uncalled commitments in respect of investments in shares of Indigold Trade and Services Limited amounting to Rs. Nil (Previous Year: Rs. 28.93 Crore).

NOTE: 2

DISCONTINUING OPERATIONS

The Company, in its Committee of Directors meeting held on 6th April, 2013, had decided to divest the Carbon Black business with effect from 1st April, 2013, on a going concern basis, by way of a slump sale, to SKI Carbon Black (India) Private Limited.

In accordance with the approval given by the shareholders, the Company has accounted for slump sale of Carbon Black business (identified as reportable segment under AS-17) with effect from 1st April, 2013, on a going concern basis to SKI Carbon Black (India) Private Limited pursuant to Business Transfer Agreement entered into with them and accordingly a gain of Rs. 24.06 Crore on the said slump sale has been recognised as an exceptional item and a net tax credit of Rs. 40.70 Crore (including reversal of deferred tax credit) has been netted off with current period tax expense.

In view of the above, the figures for the previous year are strictly not comparable.

NOTE: 3 RETIREMENT BENEFITS

Disclosure in respect of Employee Benefits pursuant to Accounting Standard-15 (Revised)

(a) The details of the Company''s Defined Benefit Plans in respect of Gratuity (funded by the Company):

General Description of the Plan

The Company operates gratuity plan through a trust wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each completed year of service. The same is payable on termination of service or retirement, whichever is earlier. The benefit vests after five years of continuous service. In case of some employees, the Company''s scheme is more favourable as compared to the obligation under Payment of Gratuity Act, 1972.

NOTE: 4

LIST OF RELATED PARTIES

PARTIES WHERE CONTROL EXIST

SUBSIDIARIES

Aditya Birla Financial Services Private Limited (ABFSPL) Aditya Birla Capital Advisors Private Limited (ABCAPL) Aditya Birla Customer Services Private Limited (ABCSPL) Aditya Birla Trustee Company Private Limited (ABTCPL) Aditya Birla Money Limited (ABML)

Aditya Birla Commodities Broking Limited (ABCBL) Aditya Birla Financial Shared Services Limited (ABFSSL) Aditya Birla Finance Limited (ABFL)

Aditya Birla Securities Private Limited (ABSPL) Aditya Birla Insurance Brokers Limited (ABIBL) Birla Sun Life Asset Management Company Limited (BSAMC) Birla Sun Life AMC (Mauritius) Ltd. Aditya Birla Sun Life AMC Ltd., Dubai Aditya Birla Sun Life AMC Pte. Ltd., Singapore India Advantage Fund Ltd. Birla Sun Life Trustee Company Private Limited (BSTPL) Aditya Birla Housing Finance Limited (ABHFL) Aditya Birla Money Mart Limited (ABMML)

Aditya Birla Money Insurance Advisory Services Limited (ABMIASL) ABNL IT & ITES Limited (IT&ITES)

Aditya Birla Minacs BPO Private Limited (ABMBPL) Aditya Birla Minacs Worldwide Limited (ABMWL) Aditya Birla Minacs Philippines Inc. (ABMPI) AV TransWorks Limited (AVTL)

Aditya Birla Minacs Worldwide Inc. (ABMWI) Aditya Birla Minacs BPO Limited (ABMBL) Minacs Worldwide SA de CV (MWSC) The Minacs Group (USA) Inc. (MGI)

Bureau of Collections Recovery, LLC (BCR) Bureau of Collections Recovery (BCR) Inc. (upto February 20, 2014) Minacs Limited (ML)

Minacs Worldwide GmbH (MWGH) Minacs Kft. Aditya Vikram Global Trading House Limited (AVGTHL) Birla Sun Life Insurance Company Limited (BSLICL) ABNL Investment Limited (ABNL Inv) Shaktiman Mega Food Park Private Limited (SMFP) Madura Garments Lifestyle Retail Company Limited (MGLRCL) Indigold Trade and Services Limited (ITSL)

Pantaloons Fashion & Retail Limited (PFRL) OTHER RELATED PARTIES JOINT VENTURES IDEA Cellular Limited (IDEA)

Birla Sun Life Asset Management Company Limited (BSAMC) (Joint Venture of ABFSPL) (Upto October 10, 2012) Birla Sun Life Trustee Company Private Limited (BSTPL) (Joint Venture of ABFSPL) (Upto October 10, 2012) ASSOCIATES

Birla Securities Limited (BSL) Key Management Personnel Dr. Rakesh Jain – Managing Director

Mr. Pranab Barua – Whole-time Director (upto May 15, 2012) Mr. Sushil Agarwal – Whole-time Director

Mr. Lalit Naik – Deputy Managing Director (w.e.f. January 01, 2013) Relatives of Key Management Personnel Mrs. Anita Agarwal (Wife of Mr. Sushil Agarwal)

NOTE: 5

OTHER SIGNIFICANT NOTES

(i) The Board of Directors of the Company has approved allotment of 98.20 Lakh Equity Shares of Rs. 10 each at a premium of Rs. 900.86 each on 8th November, 2013, against warrant allotted on a preferential basis to the promoter and promoter group company. The Company has received an amount of Rs. 670.84 Crore (excluding receipt of Rs. 223.62 Crore received on allotment of warrant) on exercise of warrants. The receipt from the preferential allotment of the warrants has been fully utilised.

(ii) The Company has presented segment information in its Consolidated Financial Statements, which are part of the same annual report. Accordingly, in terms of provisions of Accounting Standard on Segment Reporting (AS-17), no disclosure related to the segment are presented in the Standalone Financial Statements.

(iii) ABNL IT & ITeS Limited, a wholly owned subsidiary of the Company, at its meeting of the Board of Directors held on 30th January, 2014, has approved the divestment of shares held by it in its IT-ITeS subsidiary, Aditya Birla Minacs Worldwide Limited, and has executed a Share Purchase Agreement with a group of investors led by Capital Square Partners and CX Partners subject to fulfilment of requisite consents and approvals.

All requisite consents and approvals, which were part of closing conditions, have been completed. With this divestment, Aditya Birla Minacs Worldwide Limited and its subsidiaries ceased to be subsidiaries of Aditya Birla Nuvo Limited, with effect from 9th May, 2014.

(iv) Book Value of certain long-term unquoted investments aggregating to Rs. 1,546.59 Crore (Previous Year: Rs. 434.01 Crore) are lower than its cost.

Considering the strategic and long-term nature of the aforesaid investments and asset base and business plan of the investee companies, in the opinion of the management, the decline in the market/book value of the aforesaid investments is of temporary nature, requiring no provision.

(v) Figures of Rs. 50,000 or less have been denoted by ''ß''.

(vi) Previous Year''s figures have been regrouped/rearranged, wherever necessary.


Mar 31, 2013

1 The Hon''ble High Court of Allahabad, vide its order dated December 23, 2011, has upheld the constitutional validity and retrospective application of entry tax under UP Tax on Entry of Goods into Local Area Act, 2007, in response to a writ petition filed by the Company earlier. On further appeal, the Hon''ble Supreme Court, vide its order dated January 10, 2012, had granted stay on the said order subject to certain conditions, accordingly, the Company had paid Rs. 47.88 Crore under protest and submitted bank guarantee aggregating Rs. 42.90 Crore. Considering the complexities involved and pending final hearing before the Hon''ble Supreme Court, the Company, in the Previous year, had made provision for entry tax aggregating Rs. 103.88 Crore, and the same was considered as an exceptional item.

2 List of Related Parties:

PARTIES WHERE CONTROL EXIST SUBSIDIARIES

Aditya Birla Financial Services Private Limited (ABFSPL) (100% Subsidiary]

Aditya Birla Capital Advisors Private Limited (ABCAPL) (100%Subsidiary of ABFSPL]

Aditya Birla Customer Services Private Limited (ABCSPL) (100% Subsidiary of ABFSPL]

Aditya Birla Trustee Company Private Limited (ABTCPL) (100% Subsidiary of ABFSPL]

Aditya Birla Money Limited (ABML) (75% Subsidiary of ABFSPL]

Aditya Birla Commodities Broking Limited (ABCBL] (100% Subsidiary of ABML]

Aditya Birla Financial Shared Services Limited (ABFSSL] (100% Subsidiary of ABFSPL]

Aditya Birla Finance Limited (ABFL] (100% Subsidiary of ABFSPL]

Aditya Birla Securities Private Limited (ABSPL] (100% Subsidiary of ABFL]

Aditya Birla Insurance Brokers Limited (ABIBL] (50.01% Subsidiary of ABFSPL]

Birla Sun Life Asset Management Company Limited (BSAMC] (51% Subsidiary of ABFSPL] (w.e.f. 10th Oct., 2012, earlier was a Joint Venture]

Birla Sun Life AMC (Mauritius] Ltd. (100% Subsidiary of BSAMC]

Aditya Birla Sun Life AMC Ltd., Dubai (100% Subsidiary of BSAMC]

Aditya Birla Sun Life AMC Pte. Ltd., Singapore (100% Subsidiary of BSAMC]

India Advantage Fund Ltd. (Subsidiary of BSAMC]

Birla Sun Life Trustee Company Private Limited (BSTPL] (50.85% Subsidiary of ABFSPL](w.e.f. 10th Oct., 2012, earlier was a Joint Venture]

Aditya Birla Housing Finance Ltd. (ABHFL] (100% Subsidiary of ABFSPL] (formerly known as LIL Investment Limited] Aditya Birla Money Mart Limited (ABMML] (100% Subsidiary of ABFSPL]

Aditya Birla Money Insurance Advisory Services Limited (ABMIASL] (100% Subsidiary of ABMML]

ABNL IT & ITES Limited (IT&ITES] (100% Subsidiary]

Aditya Birla Minacs Worldwide Limited (ABMWL] (99.85% Subsidiary of IT&ITES]

Aditya Birla Minacs Philippines Inc. (ABMPI] (100% Subsidiary of ABMWL]

Aditya Birla Minacs BPO Private Limited (ABMBPL] (100% Subsidiary of ABMWL]

AV TransWorks Limited. (AVTL] (100% Subsidiary of ABMWL]

Aditya Birla Minacs Worldwide Inc. (ABMWI] (100% Subsidiary of AVTL]

Aditya Birla Minacs BPO Limited (ABMBL] (100% Subsidiary of ABMWI]

Minacs Worldwide SA de CV (MWSC] (100% Subsidiary of ABMWI]

The Minacs Group (USA) Inc.(MGI) (100% Subsidiary of ABMWI]

Bureau of Collections Recovery, LLC (BCR) (100% Subsidiary of ABMWI)

Bureau of Collections Recovery (BCR) Inc. (100% Subsidiary of ABMWI)

Minacs Limited (ML) (100% Subsidiary of ABMWI)

Minacs Worldwide GmbH (MWGH) (100% Subsidiary of ABMWI)

Minacs Kft. (100% Subsidiary of MWGH)

Aditya Vikram Global Trading House Limited (AVGTHL) (100% Subsidiary)

Birla Sun Life Insurance Company Limited (BSLICL) (74% Subsidiary)

ABNL Investment Limited (ABNLInv) (100% Subsidiary)

Shaktiman Mega Food Park Private Limited (94% Subsidiary)

Madura Garments Lifestyle Retail Company Limited. (MGLRCL) (100% Subsidiary)

Indigold Trade and Services Limited (ITSL) (100% Subsidiary)

Pantaloons Fashion & Retail Limited (Formerly Peter England Fashions and Retail Limited) (PFRL) (50.09% Subsidiary of ITSL)

OTHER RELATED PARTIES JOINT VENTURES

IDEA Cellular Limited (IDEA)

Birla Sun Life Asset Management Company Limited (BSAMC) (ceased to be a joint venture from 10th Oct., 2012 on becoming Subsidiaries)

Birla Sun Life Trustee Company Private Limited (BSTPL) (ceased to be a joint venture from 10th Oct., 2012 on becoming Subsidiaries)

ASSOCIATES

Birla Securities Limited. (BSL)

Key Management Personnel

Dr. Rakesh Jain - Managing Director

Mr. Pranab Barua - Whole-time Director (up to 15th May, 2012)

Mr. Sushil Agarwal - Whole-time Director (w.e.f. 01st June, 2011)

Mr. Lalit Naik - Deputy Managing Director (w.e.f. 01st January, 2013)

Relatives of Key Management Personnel

Mrs. Anita Agarwal (Wife of Mr. Sushil Agarwal)

3 In accordance with approval of the shareholders in the extraordinary general meeting of the Company held on 25th April, 2012, the Company has on preferential basis, issued 1.65 Crore warrants of Rs. 10 each to the Promoters and/ or Promoter Group at a price of Rs. 910.86. The holder of each warrant is entitled to apply for and obtain allotment of 1 equity share against each warrant at any time after the date of allotment but on or before the expiry of 18 months from the allotment in one or more tranches. The Company has received an amount of Rs. 375.73 Crore equivalent to 25% of the price and Rs. 456.34 Crore (excluding receipt of Rs. 152.11 Crore received on allotment of warrant) on exercise of 66.80 Lakh warrants of Rs. 10 each by the Promoter Group. The total amount of Rs. 832.08 Crore received from the preferential allotment of the warrants has been fully utilised.

4 The Company has presented segment information in its Consolidated Financial Statements, which are part of the same annual report. Accordingly, in terms of provisions of Accounting Standard on Segment Reporting (AS-17) no disclosure related to the segment are presented in the Standalone Financial Statements.

5 The Company, in its Committee of Directors meeting held on 6th April, 2013, has decided to divest the Carbon Black business with effect from 1st April, 2013 at an Enterprise Value of Rs. 1,451 Crore, subject to adjustment for net working capital. The Carbon Black business is being transferred, on a going concern basis, by way of a slump sale, to SKI Carbon Black (India) Private Limited. The transaction is expected to be consummated during the current financial year subject to necessary approvals.

6 Pursuant to the Scheme of Arrangement (the ''Scheme'') under Sections 391 to 394 of the Companies Act, 1956, the fashion retail business called the ''Pantaloon Format'' of Pantaloon Retail (India) Limited, sanctioned by the Hon''ble High Court of Bombay, vide its order dated 1st March, 2013, has been transferred by way of demerger to Pantaloons Fashion & Retail Limited (Formerly Peter England Fashions and Retail Limited), a subsidiary of the Company, on a going concern basis with effect from 8th April, 2013. The Scheme is operative from the appointed date, i.e., 1st July, 2012.

7 Figures of Rs. 50,000 or less have been denoted by ''IS''.

8 Previous Year''s figures have been regrouped/rearranged, wherever necessary.


Mar 31, 2012

1 Term/Right attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs 10/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution to all Preference Shareholders. The distribution will be in proportion to the number of the equity shares held by the shareholders.

2 Term of Conversion/Redemption of Preference Shares

In accordance with the Composite Scheme of Arrangement, 10,000 6% Redeemable Cumulative Preference Share of ' 100/- each fully paid-up (Previous Year: 10,000) were issued to preference shareholders (other than the Company) of Peter England Fashions and Retail Limited.

Preference shares carry cumulative dividend @6% p.a. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the Annual General Meeting.

These preference shares are redeemable by the Company at any time after completion of one year and on or before completion of five years from the 1st January, 2010, at the face value. In the event of liquidation of the Company before conversion/redemption of preference shares, the holders of Preference Shares will have priority over Equity Shares in the payment of dividend and repayment of capital.

3 The Company does not have any holding Company,

4 Share reserved for issue under options and contracts, including the terms and amounts:

For details of Shares reserved for issue under the Employee Stock Option (ESOP) Plan of the Company Refer Note 38.

5 There are no Preference Shares issued as fully paid-up pursuant to any contract in consideration of other than cash or bought back during the preceding last five years except issue of 10,000 6% Redeemable Cumulative Preference Shares of Rs 100/- each pursuant to a Scheme of Composite Arrangement to shareholders of Peter England Fashions and Retail Limited.

6 In the year 1997, the Company had forfeited 4,487 shares held by 299 holders on account of non-payment of call money with interest on shares issued against each detachable warrant.

7 3,191,794 equity shares (Previous Year: 3,222,993) are represented by Global Depository Receipts.

8 During the last five years preceding 31.03.2012, there were 1,048 Bonus Shares (Previous Year: 1,048 Bonus Shares] issued out of shares kept in abeyance.

9 Figu res in brackets represent corresponding number of shares for previous year.

Details of Dues to Micro, Small & Medium Enterprises as defined under MSMED Act, 2006

There are no Micro, Small & Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at 31st March, 2012, and no interest payment made during the year to any Micro, Small & Medium Enterprises. This information as required to be disclosed under the Micro, Small & Medium Enterprises Development Act, 2006, has been determined to the extent such parties have been identified on the basis of information available with the Company.

Notes:

1. Gross Block of Fixed Assets Includes:

a. The Company's share in assets held under co-ownership - Leasehold Land Rs 19.53 Crore (Previous Year: Rs 19.55 Crore), Buildings Rs23.85 Crore (Previous Year: Rs 23.85 Crore), Furniture, Fixture & Equipment Rs 7.94 Crore (Previous Year: Rs 7.92 Crore) and Vehicles and Aircraft Rs 6.83 Crore (Previous Year: Rs 6.83 Crore).

b. Buildings include Rs 8.19 Crore (Previous Year: Rs 8.19 Crore) being cost of Debentures and Shares in a company entitling the right of exclusive occupancy and use of certain premises.

2. For Assets given on Operating Lease - Refer to Note: 40.

3. The Company has made an application for exemption under Section 20 of the Urban Land (Ceiling & Regulation) Act, 1976, for excess land of 4.25 acres (Previous Year: 4.25 acres) at Rishra.

The Company is one of the Promoter member of Aditya Birla Management Corporation Private Limited, a Company limited by guarantee, which has been formed to provide a common pool of facilities and resources to its members, with a view to optimise the benefits of specialisation and minimise cost to each member. The Company's share of expenses under the common pool has been accounted for under the appropriate heads. Total Amount of Deposit Outstanding as on 31st March, 2012, is Rs 3.82 Crore (Previous Year: Rs 3.12 Crore).

NOTE: 1 CONTINGENT LIABILITIES NOT PROVIDED FOR: Rs in Crore

a) Claims against the Company not acknowledged as debts

Nature of Brief Description of Forum where As at 31st As at 31st Statute Contingent Liabilities dispute is pending March, 2012 March, 2011 Customs Duty, Departmental appeal against CESTAT order High Court- Karnataka 2.04 - "Customs Act, for deleting demand of payment of duty 1942 for non fulfillment of provision of EXIM policy related to Advance Licence

Excise Duty, Department issued show cause cum Commissioner, LTU, 10.88 10.88

Central Excise demand notice for simultaneous availment Mumbai Act, 1944 of C.E. Not. 29/04 & 30/04 date 09.07.2004

for the period 2004-05 to 2006-07

Demand for payment of duty for removal CESTAT-Bangalore 2.03 2.03

of Refinished Imported Garments without paying Duty

Demand of duty against availment of benefit Hon'ble Supreme Court 8.25 8.25

of exemption under Notification 38/2003-CE in respect of ready made garments procured from job workers

Demand for reversal on cenvat on CBFS & Dy. Commissioner LTU 32.04 1.42

other inputs allegedly to be used for Mumbai

manufacturing of electricity sold outside for the period 2006 to September 2011

Demand of difference in duty on processing Dy. Commissioner 4.09 2.69

of yarn from Cake to Cone Commissioner-LTU,

Mumbai

Demand for reversal of cenvat on CBFS High Court, Allahabad 3.27 3.27

alleged to be used for generation of Steam

Demand for reversal of cenvat of Service Tax Commissioner 1.05 1.05

on business auxiliary services

Sales Tax Demand against C & F forms and also against Joint Commissioner of 10.68 -

Input Tax Credit (ITC) on purchases by Power Sales Tax (Appeals), Rajkot Plant, reversal of ITC, for AY 2006-07

Demand against issue of Form C against High Court, Lucknow 74.69 38.61

supply of Natural Gas during F.Y. 2009-10,

FY 2010-11 and FY 2011-12

Demand of Entry Tax Supreme Court - 69.84

Sales Tax demand on export to Nepal High Court, Allahabad 1.43 1.17

Demand against Form H, I & C, ITC Short W.B.Commercial Tax, 4.94 4.90

adjusted on Stores Spares Revisional Board

Service Tax, Demand of Service Tax on Commission paid CESTAT Kolkata - 1.12

Finance Act, to overseas agents during the period from 1994 01.10.2002 to 31.03.2006

Demand for reversal of cenvat of Service Tax Commissioner- LTU, Mumbai 4.04 3.67

taken on Goods transport Agency service on outward transportation

Others Demand of textile cess on removal of Ready High Court, Karnataka 2.14 2.14

made garments

Payment of Wages of Strike Period Industrial Tribunal, Rajkot 3.12 3.12

Labour Reinstatement & Workmen Labour Court 5.77 5.47

Compensation cases

Claim by PEDEEE Syria for late supply Syrian Arab republic Council 1.20 1.05

under different contracts of State,

Administra tional

Judicature Court, Syria

HPCL arbitration for supply of low sulphur CIT (Appeals) 1.04 1.04

heavy stocks and other liquid fuels

Railways demanded Land Licence Fees, DRM, Northern Railways, 3.50 3.50

in 2008, for the land used for constructing LKO and connecting siding with Railway at Sindurwa since 1988

Demand letter issued by UPSIDC for High Court, Lucknow 11.17 8.21

making payment of mainten ance charges on land allotted in 1983

Demand of water drawal charges by High Court, Gujarat 50.59 -

irrigation department

Recovery of payment for material not supplied/ Contract cancelled 5.92 5.92

Income Tax Various Department Appeal in ITAT, High ITAT, High Court 52.22 57.89

Act, 1961 Court on various matter

Demand for various additions in tax CIT (Appeals) 1.59 0.61 assessment of AY 2008-09 & 2009-10

Penalty on disallowance of provision of CIT (Appeals) - 3.11 leave salary

Various others cases 21.36 20.88 Grand Total 319.05 261.84

b) Bills Discounted with Banks 124.02 89.99

c) Corporate Guarantees given to Banks for loans taken by subsidiaries 930.82 510.58

d) Corporate Guarantees given in connection with performance obligation 99.76 87.07 of the subsidiaries

e) Under the Jute Packaging Material (Compulsory use of Packing Commodities) Act, 1987, a specified percentage of fertilisers dispatched was required to be supplied in jute bags up to 31st August 2001. The Company made conscious efforts to use jute packaging material as required under the sad Act. However, due to non-availability of material as per the Company's product specifications as well as due to strong customer resistance to use of jute bags, the specific percentage could not be adhered to. The Company has received a show cause notice, againstwhich a writ petition has been filed with the Hon'ble High Court, which is awaiting for hearing. The Jute Commissioner, Kolkata had filed transfer petition, various writ petitions have been filed in different High Courts by other aggrieved parties, including the Company, before the Hon'ble Supreme Court of India, praying for consolidation of all cases at one Court. The transfer petition is pending before the Hon'ble Supreme Court. The Company has been advised that the said levy is bad in law.

d) For commitment under lease contract Refer Note 39.

e) Transfer of investments in IDEA Cellular Ltd. (IDEA) and Birla Sun Life Insurance Co. Ltd. is restricted by the terms contained in their respective joint venture agreements. Non-disposal undertakings for IDEA, Aditya Birla Minacs Worldwide Ltd and Madura Garments Lifestyle Retail Company Limited investments have also been provided to certain Banks for respective credit facilities extended by them.

Pursuant to the Shareholders' Agreement entered into with the Joint Venture partner, the Company has, in respect of Birla Sun Life Insurance Company Limited, agreed to infuse its share of capital from time to time to meet the solvency requirement prescribed by the regulatory authority.

f) Aditya Birla Minacs Worldwide Ltd. (ABMWL), a subsidiary of the Company, has issued Zero Coupon Compulsorily Convertible Debentures (CCD) aggregating ' 250 Crore to be converted into Equity of ABMWL on the expiry of a period of 60 months from the date of allotment of such CCD. The Company has entered into an option agreement with the subscribers of such CCD, pursuant to which the subscribers has put option on the Company and the Company has call option on the subscribers on 22nd May, 2012, at a pre-agreed price. Further, on happening of certain events, the put option can also be exercised by the subscribers on the Company on any other date on happening of such events.

g) Madura Garments Lifestyle Retail Company Limited (MGLRCL), a subsidiary of the Company, has issued Zero Coupon Compulsorily Convertible Debenture (CCD) aggregating ' 300 Crore to be converted into Equity of MGLRCL on the expiry of a period of 60 months from the date of allotment of such CCD. The Company has entered into an option agreement with the subscribers of such CCD, pursuant to which the subscribers has put option on the Company and the Company has call option on the subscribers on expiry of 24, 36, 48 and 60 months from the date of allotment of CCD at a pre-agreed price. Further, on happening of certain events, the put option can also be exercised by the subscribers on the Company on any other date on happening of such events.

2 Disclosure under Employee Stock Option Scheme

Under the Employee Stock Option Scheme - 2006 (ESOS-2006), the Company has granted options to the eligible employees of the Company and its Subsidiaries. During the year under ESOS-2006, 3,370 options have been granted as 'Tranche-V' on 23rd May, 2011, to the eligible employees of the Company. These options are convertible into equivalent equity shares of the Company. The details are as under:

The ESOP compensation cost is amortised on a straight-line basis over the total vesting period of the options. Accordingly Rs 0.18 Crore {net of recovery of Rs IS Crore from the subsidiaries} (Previous Year : Rs 1.96 Crore net of recovery of Rs 0.05 Crore from the subsidiaries) has been charged to the Statement of Profit and Loss.

For the option exercised during the period, the weighted average share price at the exercise date was Rs 927.92 per share (Previous Year : no option exercised).

The weighted average remaining contractual life for the stock options outstanding as at 31st March, 2012, is 3.35 years (Previous Year : 3.25 years).

NOTE : 3

Disclosure in respect of Related Parties pursuant to Accounting Standard-18 Sl. No. List of Related Parties:

Parties where control exist SUBSIDIARIES

1 Aditya Birla Financial Services Private Limited (ABFSPL) (100% Subsidiary]

1.1 Aditya Birla Capital Advisors Private Limited (ABCAPL) (100% Subsidiary of ABFSPL)

1.2 Aditya Birla Customer Services Private Limited (ABCSPL) (100% Subsidiary of ABFSPL)

1.3 Aditya Birla Trustee Company Private Limited (ABTCPL) (100% Subsidiary of ABFSPL)

1.4 Aditya Birla Money Limited (ABML) (75% Subsidiary of ABFSPL)

1.4.1 Aditya Birla Commodities Broking Limited (ABCBL) (100% Subsidiary of ABML)

1.5 Aditya Birla Financial Shared Services Limited (ABFSSL) (100% Subsidiary of ABFSPL)

1.6 Aditya Birla Finance Limited (ABFL) (100% Subsidiary of ABFSPL)

1.6.1 Aditya Birla Securities Private Limited (ABSPL) (100% Subsidiary of ABFL w.e.f. 31st July, 2010)

1.7 Aditya Birla Insurance Brokers Limited (ABIBL) (50.01% Subsidiary of ABFSPL)

1.8 Aditya Birla Money Mart Limited (ABMML) (100% Subsidiary of ABFSPL)

1.8.1 Aditya Birla Money Insurance Advisory Services Limited (100% Subsidiary of ABMML)

2 Aditya Birla Minacs Worldwide Limited (ABMWL) (99.85% Subsidiary)

2.1 Transworks Inc (TW Inc) (100% Subsidiary of ABMWL) (upto 9th October, 2011)

2.2 Aditya Birla Minacs Philippines Inc. (ABMPI) (100% Subsidiary of ABMWL)

2.3 AV TransWorks Limited. (AVTL) (100% Subsidiary of ABMWL)

2.3.1 Aditya Birla Minacs Worldwide Inc. (ABMWI) (100% Subsidiary of AVTL)

2.3.1.1 Aditya Birla Minacs BPO Limited (ABMBL) (100% Subsidiary of ABMWI)

2.3.1.1.1 Aditya Birla Minacs BPO Private Limited (ABMBPL) (100% Subsidiary of ABMBL)

2.3.1.1.2 Compass BPO Inc. (100% Subsidiary of ABMBL) (Upto 29th September, 2011)

2.3.1.2 Minacs Worldwide SA de CV (MWSC) (100% Subsidiary of ABMWI)

2.3.1.3 The Minacs Group (USA) Inc. (MGI) (100% Subsidiary of ABMWI)

2.3.1.3.1 Bureau of Collection Recovery, LLC (BCR) (100% Subsidiary of MGI) (w.e.f. 2nd June, 2010)

2.3.1.4 Bureau of Collections Recovery (BCR) Inc. (w.e.f. 4th March, 2011) (100% Subsidiary of ABMWI)

2.3.1.5 Minacs Limited (ML) (100% Subsidiary of ABMWI)

2.3.1.6 Minacs Worldwide GmbH (MWGH) (100% Subsidiary of ABMWI)

2.3.1.6.1 Minacs Kft. (100% Subsidiary of MWGH)

3 Aditya Vikram Global Trading House Limited (AVGTHL) (100% Subsidiary]

4 Birla Sun Life Insurance Company Limited (BSLICL) (74% Subsidiary)

5 ABNL Investment Limited (ABNLInv) (100% Subsidiary)

6 Shaktiman Mega Food Park Private Limited (w.e.f. 2nd December, 2010) (94% Subsidiary)

7 Madura Garments Lifestyle Retail Company Limited (MGLRCL) (100% Subsidiary)

8 Peter England Fashions and Retail Limited (PEFRL) (100% Subsidiary)

9 Indigold Trade and Services Limited (ITSL) (w.e.f. 30th June, 2010) (99.99% Subsidiary)

10 LIL Investment Limited (LIL) (w.e.f. 30th June, 2010) (99.99% Subsidiary)

JOINT VENTURES

1 Birla Sun Life Asset Management Company Limited (BSAMC) (Joint Venture of ABFSPL)

2 Birla Sun Life Trustee Company Private Limited (BSTPL) (Joint Venture of ABFSPL)

3 IDEA Cellular Limited (IDEA)

ASSOCIATES

1 Birla Securities Limited (BSL)

2 Indigold Trade and Services Limited (ITSL) (Upto 29th June, 2010)

3 LIL Investment Limited (LILIL) (Upto 29th June, 2010)

Key Management Personnel

1 Dr. Rakesh Jain - Managing Director

2 Mr. Pranab Barua - Whole-time Director

3 Mr. Sushil Agarwal- Whole-time Director (w.e.f. 1st June, 2011)

4 Mr. K.K. Maheshwari - Whole-time Director (upto 20th May, 2010)

Relatives of Key Management Personnel

1 Mrs. Anita Agarwal (Wife of Mr. Sushil Agarwal)

2 Mrs. Sharda Maheshwari (Wife of Mr. K.K. Maheshwari)

General Description Fair Value of the Plan

The Company operates gratuity plan through a trust wherein every employee is entitled to the benefit equivalent to fifteen days salary last drawn for each completed year of service. The same is payable on termination of service or retirement, whichever is earlier. The benefit vests after five years of continuous service. In case of some employees, the Company's Scheme is more favourable as compared to the obligation under Payment of Gratuity Act, 1972.

4 The Company has presented segmental information in its Consolidated Financial Statements, which are part of the same annual report. Accordingly, in terms of provisions of Accounting Standard on Segment Reporting (AS-17) no disclosure related to the segment are presented in the Standalone Financial Statements.

5 Subsequent Events

a) The Board of Directors of the Company at its meeting held on 30th April, 2012, has, in principle approved, subject to necessary approvals, the proposed acquisition of a controlling stake in Future Group's 'Pantaloons Format Business' post its demerger from Pantaloon Retail (India) Ltd. (PRIL) either directly or through its subsidiary company. PRIL will issue debentures to the company/its subsidiary worth Rs 800 Crore convertible in the equity shares of the resulting entity on mutually agreed terms. The transaction is likely to be completed in the next 8-10 months time, subject to the finalisation of the Scheme of Arrangement, due diligence, statutory and other requisite approvals.

b) The Board of Directors of the Company at their meeting, held on 26th March, 2012, have, subject to necessary approval(s) and in accordance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, approved issuance of 1.65 Crore warrants to Promoter and/or Promoter Group, entitling the holder thereof to get one equity share of Rs 10/- each of the Company against each warrant within a period of eighteen months from the date of allotment. Subsequently, the Members of the Company in the Extraordinary General Meeting held on 25th April, 2012, have also approved issue of the said warrants.

Further, on receipt of 25% of the price fixed per warrants on 10th May, 2012, the Company has issued and allotted 1.65 Crore Warrants to the Promoter Group Companies on a preferential basis.

6 Figures of Rs 50,000 or less have been denoted by 'IS'.

7 Previous Year's figures have been regrouped/rearranged wherever necessary.

 
Subscribe now to get personal finance updates in your inbox!