Professional Documents
Culture Documents
$59,1'/,0,7('
Err| c|| r L| l esl y| es. . .
oirectors
Vr. Sanjay S. Lalbhal Chalrman 8 Vanaglng Olrector
Vr. !ayesh k. Shah Olrector 8 Chlef llnanclal Ohcer
Vr. Sudhlr Vehta
Or. 8akul Oholkla
Vr. Vunesh khanna
Vr. G. V. adwadkar Nomlnated by lO8l 8ank Ltd.
Vr. rabhakar Oalal Nomlnated by Lxort-lmort 8ank of lndla
Vs. enuka amnath
Company Secretary
Vr. .v. 8hlmanl
Bankers
State 8ank of lndla
8ank of 8aroda
UCO 8ank
State 8ank of atlala
HOlC 8ank Ltd.
Standard Chartered 8ank
lClCl 8ank Ltd.
Lxort-lmort 8ank of lndla
Axls 8ank Ltd.
State 8ank of Hyderabad
Auditors
Sorab S. Lnglneer 8 Co.
Chartered Accountants
lsmall 8ulldlng,
8, Or. O. Naorojl oad,
lort, Vumbal-oo oo.
egistered Omce
Naroda oad,
Ahmedabad - 8o oz.
CON!LN!S
Notlce ...............................................................................................
Olrectors` eort ...........................................................................
Cororate Governance eort ...................................................p
Vanagement Olscusslon and Analysls ..................................... z
Strategy 8 rogrammes for
Cororate Soclal esonslblllty" zoo- ............................ z
Audltors` eort ..........................................................................z
8alance Sheet ...............................................................................z8
rot 8 Loss Account .................................................................zp
Cash llow Statement ................................................................. o
Schedules formlng art of Accounts .........................................
8alance Sheet Abstract 8 Comany`s
General 8uslness role .............................................................
Consolldated llnanclal Statements ..........................................
!he Arvlnd Overseas (Vaurltlus) Llmlted ...............................;8
Arvlnd Slnnlng Llmlted .............................................................8z
Arvlnd !extlle Vllls Llmlted ....................................................... 8
Sharero Servlces (lndla) rlvate Llmlted
-zo, th lloor, Oevnandan Vall,
O. Sanyas Ashram, Llllsbrldge,
Ahmedabad - 8o oo.
hone Nos.: o;p-z8z8 to 8
lax No.: o;p-z8z8
L-mall: sharero.ahmedabadQshareroservlces.com
LelS1AS ANo 1ANSlL AeLN1S
Notlce
HOlCL |s |ereby g|ven t|at t|e Annua| Cenera| |eet|ng ot t|e members
ot t|e Company w||| be |e|o on lr|oay, t|e ot| September, .o:: at :o.o
a.m. at |a|oreb|a| Lesa| la||, Hear Law Caroen, L|||sbr|oge, A|meoabao -
8ooo6 to transact t|e to||ow|ng 3us|ness.
OolNAY BuSlNLSS
:. o rece|ve, cons|oer ano aoopt t|e Auo|teo Statements ot Accounts
tor t|e nnanc|a| year enoeo on :st |arc|, .o:: ano t|e leports ot t|e
L|rectors ano Auo|tors t|ereon.
.. o appo|nt a L|rector |n p|ace ot |r. Sanjay S. La|b|a|, w|o ret|res by
rotat|on |n terms ot Art|c|e :., ot t|e Art|c|es ot Assoc|at|on ot t|e
Company ano be|ng e||g|b|e, oners ||mse|t tor reappo|ntment.
. o appo|nt a L|rector |n p|ace ot |r. Suo||r |e|ta, w|o ret|res by
rotat|on |n terms ot Art|c|e :., ot t|e Art|c|es ot Assoc|at|on ot t|e
Company ano be|ng e||g|b|e, oners ||mse|t tor reappo|ntment.
,. o appo|nt auo|tors ano to nx t|e|r remunerat|on.
SLClAL BuSlNLSS
. o cons|oer, ano |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng leso|ut|on, as an Oro|nary leso|ut|on.
lLSOLvLL lA |s. lenu|a lamnat|, w|o was appo|nteo as an
Aoo|t|ona| L|rector ot t|e Company by t|e 3oaro ot L|rectors pursuant
to Sect|on .6o ot t|e Compan|es Act, :,6 ano w|o |o|os t|e omce
upto t|e oate ot t||s Annua| Cenera| |eet|ng ano |n respect w|om t|e
Company |as rece|veo a not|ce |n wr|t|ng trom a member propos|ng
|er cano|oature tor t|e omce ot L|rector 0/s. ., ot t|e Compan|es Act,
:,6, be|ng e||g|b|e tor appo|ntment to t|e omce ot L|rector, be ano |s
|ereby appo|nteo a L|rector ot t|e Company ||ab|e to ret|re by rotat|on.
6. o cons|oer, ano |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng leso|ut|on, as a Spec|a| leso|ut|on.
lLSOLvLL lA pursuant to t|e prov|s|ons ot Sect|ons :,8, .6,, o,,
reao w|t| Sc|eou|e Xlll ano ot|er app||cab|e prov|s|ons, |t any, ot t|e
Compan|es Act, :,6, (|nc|uo|ng any amenoment t|ereto or enactment
t|ereot tor t|e t|me be|ng |n torce) t|e consent ot t|e Company be ano |s
|ereby accoroeo to t|e terms ot reappo|ntment ot |r. !ayes| k. S|a| as
v|o|et|me L|rector w|t| t|e oes|gnat|on ot L|rector ano C||et l|nanc|a|
Omcer ot t|e Company, tor a turt|er per|oo ot t|ree years trom :st
October, .o:: to ot| September, .o:, on t|e terms ano cono|t|ons
as set out |n t|e oratt agreement ot t|e reappo|ntment subm|tteo to
t|e meet|ng ano |n|t|a|eo by t|e C|a|rman tor |oent|ncat|on ano t|at
|e be pa|o remunerat|on by way ot sa|ary, perqu|s|tes, a||owances ano
comm|ss|on as approveo by t|e 3oaro ot L|rectors ot t|e Company
ano t|e lemunerat|on Comm|ttee ano as set out |n t|e Lxp|anatory
Statement annexeo |ereto.
lLSOLvLL l0llLl lA t|e 3oaro ot L|rectors ano t|e lemunerat|on
Comm|ttee be ano are |ereby severa||y aut|or|seo to a|ter, ameno, vary,
en|ance or moo|ty t|e scope ano quantum ot remunerat|on ot |r. !ayes|
k. S|a| as t|ey may oeem proper trom t|me to t|me cons|oer|ng t|e nature
ano scope ot ||s act|v|t|es as s|a|| be perm|ss|b|e ano |n contorm|ty w|t|
app||cab|e prov|s|ons ot t|e Compan|es Act, :,6.
,. o cons|oer ano, |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng reso|ut|on as a Spec|a| leso|ut|on .
lLSOLvLL lA pursuant to t|e prov|s|ons ot Sect|on :,, :8 ano ot|er
app||cab|e prov|s|ons, |t any, ot t|e Compan|es Act, :,6 ano subject to
necessary approva|s, perm|ss|ons, sanct|ons ot any aut|or|ty, Statutory
or ot|erw|se, as may be requ|reo ano subject to suc| cono|t|ons ano
moo|ncat|ons as may be prescr|beo by t|ese aut|or|t|es, t|e |a|n Object
C|ause (.) ot |emoranoum ot Assoc|at|on ot t|e Company be ano |s
|ereby a|tereo by |nsert|ng to||ow|ng new Sub C|ause (.)(s) atter ex|st|ng
C|ause (.)(r) so as to reao as unoer .
(.)(s) o carry on bus|ness as bu||oers, contractors, oeve|opers ano to
engage |n oeve|opment ot |ano ano/or bu||o|ng property ot any tenure,
nature or ||no ano to engage |n organ|zat|on, purc|ase, trao|ng, sa|e,
|ease, exc|ange ot property ano to construct, ma|nta|n, repa|r, renovate
property, |tse|t or t|roug| ot|er agenc|es ano to |o|o property tor
oeve|opment, construct|on, sa|e, |ease, ||re, or exc|ange ano to part|c|pate
|n jo|nt ventures tor oeve|opment ot property ano to prov|oe serv|ces tor
oeve|opment ot |ano ano/or bu||o|ng, property, rea| estate consu|tancy,
rea| estate bro|erage, construct|on management, arc||tecture,
eng|neer|ng ano ot|er tec|n|ca| serv|ces, |nter|or oes|gn serv|ces
ano to carry on ano unoerta|e t|e bus|ness ot owners||p, operat|on,
ma|ntenance, management, aom|n|strat|on, protect|on ano up|eep ot
serv|ce apartments, 3u||o|ng, Co|on|es, owns||ps, Comp|exes, louses,
Sc|oo|s, Lepartmenta| Stores, lote|s, lestaurants, lesorts, C|ubs,
lecreat|ona| lac|||t|es, ar|s, loaos, 3asements, Open Spaces, Common
Areas, Common lac|||t|es ano to prov|oe |ntrastructura| tac|||t|es.
lLSOLvLL l0llLl lA a|| t|e cop|es ot |emoranoum ot
Assoc|at|on ot t|e Company be a|tereo accoro|ng|y.
lLSOLvLL l0llLl lA t|e 3oaro ot L|rectors (|nc|uo|ng any
comm|ttee t|ereot) be ano are |ereby aut|or|seo to oo a|| suc| acts,
oeeos, matters ano t||ngs as may be cons|oereo oes|rab|e, expeo|ent ano
necessary ano to n|e necessary lorms / leturns / App||cat|ons / Locuments
/ apers as are requ|reo to be n|eo w|t| t|e omce ot t|e leg|strar ot
Compan|es, Cujarat, A|meoabao ano ot|er aut|or|t|es, Statutory or
ot|erw|se as may be requ|reo to g|ve enect to t||s reso|ut|on.
8. o cons|oer ano, |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng reso|ut|on as a Spec|a| leso|ut|on .
lLSOLvLL lA pursuant to t|e prov|s|ons ot Sect|on :,, (.A) ano
ot|er app||cab|e prov|s|ons, |t any, ot t|e Compan|es Act, :,6, approva|
ot t|e s|are|o|oers be ano |s |ereby accoroeo to t|e Company tor
commencement ot bus|ness spec|neo |n t|e sub-c|ause (s) ot C|ause (.)
ot t|e object c|ause ot |emoranoum ot Assoc|at|on ot t|e Company.
,. o cons|oer ano |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng reso|ut|on as a Spec|a| leso|ut|on.
lLSOLvLL lA subject to approva| ot s|are|o|oers ano pursuant to
t|e prov|s|ons ot Sect|on 8:(:A) ano ot|er app||cab|e prov|s|ons, |t any,
ot t|e Compan|es Act, :,6 (|nc|uo|ng any amenoments t|ereto or re-
enactment t|ereot, tor t|e t|me be|ng |n torce) ano t|e prov|s|ons ot t|e
lore|gn Lxc|ange |anagement Act, .ooo (lL|A), lore|gn Lxc|ange
|anagement (ranster or |ssue ot Secur|ty by a erson les|oent Outs|oe
lno|a) legu|at|ons, .ooo, lssue ot lore|gn Currency Convert|b|e 3onos ano
Oro|nary S|ares (|roug| Lepos|tory lece|pt |ec|an|sm) Sc|eme, :,, as
amenoeo, t|e Secur|t|es ano Lxc|ange 3oaro ot lno|a (SL3l) legu|at|ons ano
|n accoroance w|t| t|e ru|es, regu|at|ons, gu|oe||nes, not|ncat|ons, c|rcu|ars
ano c|ar|ncat|ons |ssueo t|ereon trom t|me to t|me by Covernment ot lno|a
(COl), t|e leserve 3an| ot lno|a (l3l), SL3l ano/or any ot|er competent
aut|or|t|es ano t|e enab||ng prov|s|ons ot t|e |emoranoum ano Art|c|es
ot Assoc|at|on ot t|e Company, t|e L|st|ng Agreements entereo |nto by
t|e Company w|t| t|e stoc| exc|anges on w||c| t|e Company's s|ares
are ||steo ano subject to necessary approva|s, perm|ss|ons, consents ano
sanct|ons ot concerneo statutory ano ot|er aut|or|t|es ano subject to suc|
cono|t|ons ano moo|ncat|ons as may be prescr|beo by any ot t|em w|||e
grant|ng suc| approva|s, perm|ss|ons, consents ano sanct|ons ano w||c|
may be agreeo to by t|e 3oaro ot L|rectors ot t|e Company (|ere|natter
reterreo to as t|e 3oaro, w||c| term s|a|| |nc|uoe any comm|ttee t|ereot)
consent ot t|e Company be ano |s |ereby accoroeo to t|e 3oaro to create,
oner, |ssue ano a||ot (|nc|uo|ng w|t| prov|s|ons tor reservat|on on nrm ano/
or compet|t|ve bas|s, ot suc| part ot |ssue ano tor suc| categor|es ot persons
|nc|uo|ng emp|oyees ot t|e Company as may be perm|tteo) e|t|er |n lno|a
or |n t|e course ot |nternat|ona| oner|ng(s) |n one or more tore|gn mar|ets,
suc| number ot C|oba| Lepos|tory lece|pts (CLls), lore|gn Currency
Convert|b|e 3onos (lCC3s), w|t| or w|t|out a green s|oe opt|on |nc|uo|ng
by way ot a qua||neo |nst|tut|ona| p|acement unoer t|e prov|s|ons ot C|apter
vlll ot t|e SL3l (lssue ot Cap|ta| ano L|sc|osure lequ|rements) legu|at|ons
.oo, {"SLBl lCo egulations"} Lqu|ty S|ares ano/or Lqu|ty S|ares
(t|roug| Lepos|tory lece|pt |ec|an|sm or o|rect|y to |nvestors) ano/
or any ot|er nnanc|a| |nstruments convert|b|e |nto Lqu|ty S|ares or
ot|erw|se, |n reg|stereo or bearer torm ano/or any secur|ty convert|b|e |nto
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
z
Lqu|ty S|ares, secur|t|es, ||n|eo to Lqu|ty S|ares ano/or secur|t|es w|t| or
w|t|out oetac|ab|e warrants w|t| r|g|t exerc|sab|e by t|e warrant |o|oers
to convert or subscr|be to Lqu|ty S|ares prov|oeo t|at t|e equ|ty s|ares
|ssueo oo not exceeo tor an aggregate va|ue up to C oo Crores |nc|uo|ng
t|e |ssue ano a||otment ot equ|ty s|ares pursuant to a Creen S|oe Opt|on,
|t any, (a|| ot w||c| are |ere|natter co||ect|ve|y reterreo to as "Securities"}
or any comb|nat|on ot Secur|t|es, |n one or more tranc|es, w|et|er rupee
oenom|nateo or oenom|nateo |n tore|gn currency, to any e||g|b|e person,
|nc|uo|ng tore|gn/res|oent |nvestors (w|et|er |nst|tut|ons, |ncorporateo
boo|es, mutua| tunos, |no|v|oua|s or ot|erw|se), lore|gn lnst|tut|ona|
lnvestors, lno|an ano/or |u|t||atera| l|nanc|a| lnst|tut|ons, |utua| lunos,
Hon-les|oent lno|ans, stab|||z|ng agents ano/or any ot|er categor|es
ot |nvestors, w|et|er t|ey be |o|oers ot s|ares ot t|e Company or not
(co||ect|ve|y ca||eo t|e lnvestors) t|roug| pub||c |ssue(s) ot prospectus,
pr|vate p|acement(s), or a comb|nat|on t|ereot at suc| t|me or t|mes, at
suc| pr|ce or pr|ces, at a o|scount or prem|um to mar|et pr|ce or pr|ces |n
suc| manner ano on suc| terms ano cono|t|ons |nc|uo|ng secur|ty, rate ot
|nterest etc. as may be oeemeo appropr|ate by t|e 3oaro at |ts abso|ute
o|scret|on |nc|uo|ng t|e o|scret|on to oeterm|ne t|e categor|es ot lnvestors
to w|om t|e oner, |ssue ano a||otment s|a|| be maoe to t|e exc|us|on ot
ot|er categor|es ot lnvestors at t|e t|me ot suc| oner, |ssue ano a||otment
cons|oer|ng t|e preva|||ng mar|et cono|t|ons ano ot|er re|evant tactors ano
w|erever necessary |n consu|tat|on w|t| Leao |anagers, as t|e 3oaro at |ts
abso|ute o|scret|on may oeem nt ano appropr|ate.
lLSOLvLL l0llLl lA pursuant to t|e prov|s|ons ot Sect|on 8:(:A)
ano ot|er app||cab|e prov|s|ons, |t any, ot t|e Compan|es Act, :,6 (|nc|uo|ng
any amenoments t|ereto or re-enactment t|ereot), t|e prov|s|ons ot
C|apter vlll ot t|e SLBl lCo egulations ano t|e prov|s|ons ot t|e
lore|gn Lxc|ange |anagement Act, .ooo, lore|gn Lxc|ange |anagement
(ranster or |ssue ot Secur|ty by a erson les|oent Outs|oe lno|a)
legu|at|ons, .ooo, t|e 3oaro ot L|rectors may at t|e|r abso|ute o|scret|on,
|ssue, oner ano a||ot equ|ty s|ares or secur|t|es convert|b|e |nto equ|ty
s|ares tor a va|ue up to t|e aggregate amount ot C oo Crores (lupees
|ree lunoreo Crores On|y) |nc|us|ve ot suc| prem|um, as spec|neo above,
to Qua||neo lnst|tut|ona| 3uyers (as oenneo by t|e SL3l lCLl legu|at|ons)
pursuant to a Qua||neo lnst|tut|ona| |acement (Ql), as prov|oeo unoer
C|apter vlll ot t|e SL3l lCLl legu|at|ons .
lLSOLvLL l0llLl lA t|e 3oaro be ano |s |ereby aut|or|zeo to |ssue
ano a||ot suc| number ot Lqu|ty S|ares as may be requ|reo to be |ssueo
ano a||otteo upon convers|on ot any Secur|t|es or as may be necessary
|n accoroance w|t| t|e terms ot t|e oner|ng, a|| suc| s|ares ran||ng par|
passu w|t| t|e ex|st|ng Lqu|ty S|ares ot t|e Company |n a|| respects.
lLSOLvLL l0llLl lA.
(a) t|e Secur|t|es to be so onereo, |ssueo ano a||otteo s|a|| be subject
to t|e prov|s|ons ot t|e |emoranoum ano Art|c|es ot Assoc|at|on
ot t|e Company, ano
(b) t|e re|evant oate tor t|e oeterm|nat|on ot app||cab|e pr|ce tor t|e
|ssue ot t|e Secur|t|es means t|e oate ot t|e meet|ng |n w||c| t|e
3oaro ot t|e Company or t|e Comm|ttee ot L|rectors oec|oes to
open t|e proposeo |ssue.
lLSOLvLL l0llLl lA t|e |ssue ot Lqu|ty S|ares unoer|y|ng
t|e Secur|t|es to t|e |o|oer ot t|e Secur|t|es s|a||, X]cTa P[XP, be
subject to t|e to||ow|ng terms ano cono|t|ons.
(a) |n t|e event ot t|e Company ma||ng a bonus |ssue by way ot
cap|ta||zat|on ot |ts pronts or reserves pr|or to t|e a||otment ot
t|e Lqu|ty S|ares, t|e number ot Lqu|ty S|ares to be a||otteo s|a||
stano augmenteo |n t|e same proport|on |n w||c| t|e equ|ty s|are
cap|ta| |ncreases as a consequence ot suc| bonus |ssue ano t|e
prem|um, |t any, s|a|| stano reouceo pro tanto,
(b) |n t|e event ot t|e Company ma||ng a r|g|ts oner by |ssue ot Lqu|ty
S|ares pr|or to t|e a||otment ot t|e Lqu|ty S|ares, t|e ent|t|ement
to t|e Lqu|ty S|ares w||| stano |ncreaseo |n t|e same proport|on as
t|at ot t|e r|g|ts oner ano suc| aoo|t|ona| Lqu|ty S|ares s|a|| be
onereo to t|e |o|oers ot t|e Secur|t|es at t|e same pr|ce at w||c|
t|e same are onereo to t|e ex|st|ng s|are|o|oers, ano
(c) |n t|e event ot merger, ama|gamat|on, ta|eover or any ot|er re-
organ|zat|on or restructur|ng, t|e number ot s|ares, t|e pr|ce ano
t|e t|me per|oo as atoresa|o s|a|| be su|tab|y aojusteo.
lLSOLvLL l0llLl lA t|e 3oaro be ano |s |ereby aut|or|zeo to
appo|nt t|e Leao |anagers, 0noerwr|ters, Cuarantors, Lepos|tor|es,
Custoo|ans, leg|strars, Stab|||z|ng Agent, rustees, 3an|ers, Lawyers,
Aov|sors ano a|| suc| agenc|es as may be |nvo|veo or concerneo |n suc|
oner|ngs ot Secur|t|es ano to remunerate t|em by way ot comm|ss|on,
bro|erage, tees or t|e |||e ano a|so to enter |nto ano execute a|| suc|
arrangements, agreements, memoranoa, oocuments etc. w|t| suc|
agenc|es ano to see| t|e ||st|ng ot suc| Secur|t|es on one or more
nat|ona| ano/or |nternat|ona| stoc| exc|ange(s).
lLSOLvLL l0llLl lA tor t|e purpose ot g|v|ng enect to t|e above
reso|ut|on, t|e 3oaro be ano |s |ereby aut|or|zeo ta|e suc| steps ano
to oo a|| suc| acts, oeeos, matters ano t||ngs as |t may, |n |ts abso|ute
o|scret|on oeem necessary ano oes|rab|e |nc|uo|ng t|e n||ng ot any
torms, ||st|ng app||cat|ons, oner oocuments, reg|strat|on statements
ano any ot|er oocuments or any oratts t|ereot or any amenoment(s)
or supp|ements t|ereto, w|t| any stoc| exc|ange or ot|er regu|atory
aut|or|ty w|et|er |n lno|a or abroao ano to sett|e any quest|on, o|mcu|ty
or ooubt t|at may ar|se |n regaro to t|e oner, |ssue ano a||otment ot
Secur|t|es ano approv|ng t|e |ssue pr|ce, arrang|ng t|e oe||very ano
execut|on ot a|| contracts, agreements ano a|| ot|er oocuments, oeeos,
ano |nstruments as may be requ|reo or oes|rab|e |n connect|on w|t|
t|e |ssue ot equ|ty s|ares by t|e Company, open|ng a separate spec|a|
account w|t| a sc|eou|eo ban| to rece|ve mon|es |n respect ot t|e |ssue
ot t|e equ|ty s|ares ot t|e Company.
A |L|3Ll LHlLLL O ALHL AHL vOL A lL |LLlHC lS LHlLLL
O AOlH A lOX/ O ALHL AHL vOL lHSLAL Ol ll|SLLl AHL A
lOX/ HLLL HO 3L A |L|3Ll.
eglstered Ohce: 8y Order of the 8oard
Naroda oad,
Ahmedabad-8o oz SAN1AY S. LALBHAl
Oate : zoth Vay, zo Chalrman 8 Vanaglng Olrector
N O 1 L S
:. rox|es, |n oroer to be enect|ve, s|ou|o be ou|y stampeo, comp|eteo,
s|gneo ano oepos|teo at t|e leg|stereo Omce ot t|e Company not |ess
t|an ,8 |ours betore t|e meet|ng.
.. ursuant to Sect|on .oC ot t|e Compan|es Act, :,6, a|| unc|a|meo o|v|oenos
up to t|e nnanc|a| year enoeo :st |arc|, :,,8 |ave been transterreo to t|e
lnvestor Loucat|on ano rotect|on luno (lLl) ot t|e Centra| Covernment.
|e Company o|o not oec|are any o|v|oenos on equ|ty s|ares tor t|e nnanc|a|
years :,,8-,, to .oo-o,.
. |embers are requesteo to not|ty prompt|y any c|ange |n t|e|r aooresses
to our leg|strar ano ranster Agent v|z. S|arepro Serv|ces (lno|a) r|vate
L|m|teo, 0n|t. Arv|no L|m|teo, ,:6-,.o, ,t| l|oor, Levnanoan |a||, Opp.
Sanyas As|ram, L|||sbr|oge, A|meoabao- 8o oo6.
,. |e leg|ster ot |embers ano S|are ranster 3oo|s ot t|e Company w|||
rema|n c|oseo trom Saturoay, t|e .,t| September, .o:: to lr|oay, t|e
ot| September, .o:: (bot| oays |nc|us|ve).
. Locuments reterreo to |n t|e Lxp|anatory Statement attac|eo |ereto are
ava||ab|e tor |nspect|on by t|e s|are|o|oers at t|e leg|stereo Omce ot t|e
Company our|ng bus|ness |ours on any wor||ng oay.
6. |embers are requesteo to br|ng t|e|r cop|es ot t|e Annua| leport to t|e
meet|ng. |e |embers/rox|es s|ou|o br|ng t|e Attenoance S||p sent
|erew|t| ou|y n||eo |n tor atteno|ng t|e meet|ng.
,. S|are|o|oers |nteno|ng to requ|re |ntormat|on about Accounts to be
exp|a|neo |n t|e |eet|ng are requesteo to |ntorm t|e Company at |east ,
oays |n aovance ot t|e Annua| Cenera| |eet|ng.
eglstered Ohce: 8y Order of the 8oard
Naroda oad,
Ahmedabad-8o oz SAN1AY S. LALBHAl
Chalrman 8 Vanaglng Olrector
Oate : zoth Vay, zo
ltem No. y
|e 3oaro ot L|rectors ot t|e Company at t|e|r meet|ng |e|o on .8t| October,
.o:o appo|nteo |s. lenu|a lamnat| as an Aoo|t|ona| L|rector ot t|e Company.
|e sa|o appo|ntment was |n pursuance ot t|e prov|s|ons ot Sect|on .6o ot t|e
Compan|es Act, :,6 ano accoro|ng|y t|e sa|o L|rector |o|os omce upto t|e
oate ot t||s Annua| Cenera| |eet|ng. |e Company |as rece|veo a not|ce |n
wr|t|ng a|ongw|t| t|e necessary amount as oepos|t trom a member s|gn|ty|ng
||s |ntent|on to propose |er cano|oature tor t|e omce ot t|e L|rector, |n terms
ot Sect|on ., ot t|e Compan|es Act, :,6.
|s. lenu|a lamnat| |s t|e lounoer ano |anag|ng L|rector ot |u|t|p|es
A|ternate Asset |anagement w||c| see|s to manage c|rca $,o m||||on ot
lno|an ano lnternat|ona| cap|ta|.
ln |er career spann|ng near|y two ano a |a|t oecaoes |n t|e lno|an nnanc|a|
sector, |s. lenu|a lamnat| |as been |nvo|veo w|t| bu||o|ng severa| bus|nesses
trom scratc| |n t|e lClCl Croup w||c| |nc|uoe lnvestment 3an||ng, Structureo
l|nance ano e-Commerce |n t|e :,,os ano r|vate Lqu|ty |n .ooo, muc| betore
eac| ot t|ese terms became ub|qu|tous |n lno|an mar|etp|ace.
|s. lenu|a lamnat| |eo lClCl venture to become lno|a's |argest pr|vate
equ|ty tuno w|||st transtorm|ng t|e nrm trom a ban|'s |nvestment arm to a
trao|t|ona| b|ue-c||p pr|vate equ|ty tuno manag|ng substant|a| amounts ot
t||ro party cap|ta| - bot| oomest|c ano |nternat|ona|. A|| tour tunos ra|seo by
|er (aggregat|ng to 0S$:. b||||on) |ave been t|e t|en |argest oomest|c tunos
ra|seo |n t|e lno|an mar|et.
|s. lenu|a lamnat| |as oemonstrateo |er ab|||ty to |oent|ty ano conceptua||ze
new bus|ness opportun|t|es, create ||g| qua||ty teams ano qu|c||y bu||o t|ese
bus|nesses to sca|e. As a resu|t, s|e |as teatureo |n many prest|g|ous ||st|ngs,
|nc|uo|ng t|e op . |ost owertu| vomen |n 3us|ness (3us|ness ooay, lno|a),
lno|a's most owertu| CLO's (Lconom|c |mes) ano |n t|e op . Hon 3an|
vomen |n l|nance (0S 3an|er's g|oba| ||st).
|e oeta||s ot L|rectors||ps, |embers||ps/C|a|rpersons||ps ot Comm|ttees ot
ot|er Compan|es |e|o by |s. lenu|a lamnat| are as unoer .
L|rectors||ps |e|o |n ot|er Compan|es. |embers||ps/C|a|rpersons||ps
ot Comm|ttees ot ot|er
Compan|es.
:. |u|t|p|es Lqu|ty luno rustee r|vate
L|m|teo
.. S|r| Hat| C Corporate |anagement
Serv|ces r|vate L|m|teo
. |u|t|p|es A|ternate Asset
|anagement r|vate L|m|teo
Homembers||por
C|a|rpersons||p|nanycomm|ttee
ot ot|ercompan|es.
|s. lenu|a lamnat| |s not |o|o|ng any s|ares ot t|e Company ano |s not
re|ateo to any L|rector ot t|e Company.
|e 3oaro commenos t|e reso|ut|on at ltem Ho. tor approva| ot members.
|s. lenu|a lamnat| may be oeemeo to be concerneo or |nteresteo |n t|e sa|o
reso|ut|on re|at|ng to |er appo|ntment. Ho ot|er L|rectors are |n any manner
concerneo or |nteresteo |n t|e sa|o reso|ut|on.
ltem No. 6
leso|ut|on unoer ltem Ho. 6 ot t|e Hot|ce re|ates to t|e reappo|ntment ot |r.
!ayes| k. S|a| as v|o|et|me L|rector w|t| t|e oes|gnat|on ot L|rector ano
C||et l|nanc|a| Omcer ot t|e Company tor a turt|er per|oo ot t|ree years trom
:st October, .o:: to ot| September, .o:, ano approva| ot ||s remunerat|on
ano terms ot reappo|ntment.
|e lemunerat|on Comm|ttee, at |ts meet|ng |e|o on .ot| |ay, .o::, |ao
recommenoeo t|e reappo|ntment ot |r. !ayes| k. S|a| as v|o|et|me
L|rector w|t| t|e oes|gnat|on ot L|rector ano C||et l|nanc|a| Omcer ot t|e
Company ano terms ot remunerat|on payab|e to ||m tor a turt|er per|oo ot
t|ree years trom :st October, .o:: to ot| September, .o:,. |e 3oaro ot
L|rectors, at t|e|r meet|ng |e|o on .ot| |ay, .o::, |ao approveo t|e same.
|e lemunerat|on Comm|ttee ano t|e 3oaro ot L|rectors ot t|e Company
are ot t|e op|n|on t|at |e |s nt ano proper person to |o|o t|e sa|o omce ano ||s
reappo|ntment w||| be |n t|e |nterest ot t|e Company.
LXLANA1OY S1A1LMLN1 uSuAN1 1O SLC1lON vy Ol 1HL COMANlLS AC1, vpy6
|e mater|a| terms ot remunerat|on ot |r. !ayes| k. S|a| enect|ve trom :st
October, .o:: to ot| September, .o:, as approveo by bot| lemunerat|on
Comm|ttee ano 3oaro ot L|rectors |n t|e|r respect|ve meet|ngs |e|o on .ot|
|ay, .o:: are as unoer.
emuneration:
(a) 3as|c Sa|ary .
C ,o,6. (lupees |ree Lacs ||rty |uosano S|x lunoreotwenty l|ve
on|y) per mont| w|t| suc| |ncrease as may be oec|oeo by t|e 3oaro ot
L|rectors (w||c| |nc|uoes any Comm|ttee t|ereot) trom t|me to t|me, but
subject to max|mum sa|ary ot C :o,oo,ooo (lupees en Lacs) per mont|.
(b) erqu|s|tes ano A||owances.
ln aoo|t|on to sa|ary, t|e to||ow|ng perqu|s|tes / a||owances s|a|| be
a||oweo to t|e L|rector 8 C||et l|nanc|a| Omcer.
CA1LeOY - A
i} Housing :
|e Company s|a|| prov|oe turn|s|eo accommooat|on to t|e L|rector 8
C||et l|nanc|a| Omcer. lt t|e L|rector 8 C||et l|nanc|a| Omcer |s |av|ng ||s
own accommooat|on, t|e Company s|a|| pay |ouse rent a||owance at t|e
rate ot o/ ot t|e 3as|c Sa|ary.
|e Company s|a|| prov|oe equ|pment ano app||ances, turn|ture, nxtures
ano turn|s||ng at t|e res|oence ot t|e L|rector 8 C||et l|nanc|a| Omcer at
t|e ent|re cost ot t|e Company. |e Company s|a|| re|mburse t|e expenses
ot ma|ntenance, e|ectr|c|ty, servants etc.
ii} Other Allowances:
|e Company s|a|| pay ot|er a||owances as per t|e Company's po||cy.
iii} ersonal Accident lnsurance:
|e Company s|a|| pay / re|mburse ersona| Acc|oent lnsurance
rem|um upto C.,ooo tor t|e L|rector 8 C||et l|nanc|a| Omcer.
iv} Club lees:
|e Company s|a|| re|mburse annua| tees tor a max|mum ot . c|ubs.
|e aggregate va|ue ot perqu|s|tes tor (|) to (|v) above tor eac| year s|a|| be
computeo as per t|e prov|s|ons ot lncome-ax Act, :,6:. ln case ot benents
tor w||c| no spec|nc ru|e ot va|uat|on |s prov|oeo unoer t|e lncome-ax
Act, t|e perqu|s|tes va|ue ot suc| benent s|a|| be ta|en at actua| cost.
v} Medical eimbursement:
|eo|ca| Lxpenses actua||y |ncurreo tor se|t ano tam||y s|a|| be re|mburseo
by t|e Company.
CA1LeOY - B
|) |e Company s|a|| contr|bute towaros rov|oent luno/ Superannuat|on
luno/Annu|ty luno prov|oeo t|at suc| contr|but|ons e|t|er s|ng|y or
put toget|er s|a|| not exceeo t|e tax-tree ||m|t prescr|beo unoer t|e
lncome-tax Act.
||) |e Company s|a|| pay Cratu|ty as per ru|es ot t|e Company.
|||) Leave on tu|| pay ano a||owances, as per ru|es ot t|e Company, but
not more t|an one mont|'s |eave tor every e|even mont|s ot serv|ce.
lowever, t|e |eave accumu|ateo but not ava||eo ot w||| be a||oweo to be
encas|eo at t|e eno ot t|e term as per ru|es ot t|e Company.
|e above s|a|| not be |nc|uoeo |n t|e computat|on ot ce|||ng on
remunerat|on or perqu|s|tes atoresa|o.
CA1LeOY - C
|) |e Company s|a|| prov|oe car(s) w|t| or|ver at t|e ent|re cost ot t|e
Company tor use on Company's bus|ness ano t|e same w||| not be
cons|oereo as perqu|s|tes.
||) |e Company s|a|| prov|oe te|ep|one ano ot|er commun|cat|on
tac|||t|es at t|e res|oence ot t|e L|rector 8 C||et l|nanc|a| Omcer at t|e
ent|re cost ot t|e Company.
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
CA1LeOY - o
|e L|rector ano C||et l|nanc|a| Omcer s|a|| be ent|t|eo to ertormance
L|n|eo var|ab|e ay/Spec|a| A||owance/lo|e Awaro/3onus/Comm|ss|on on
pronts etc. or |n any ot|er torm ot C:o |acs per annum or suc| ot|er amount
as t|e lemunerat|on Comm|ttee may oeterm|ne w|t||n t|e overa|| ||m|t ot
remunerat|on prescr|beo unoer Sect|ons :,8 ano o, ano ot|er app||cab|e
prov|s|ons ot t|e Compan|es Act :,6.
Overa|| L|m|t .
|e atoresa|o remunerat|on |s subject to t|e ||m|t ot / ot t|e annua| net pronts
ot t|e Company ano subject turt|er to t|e overa|| ||m|t ot :o/ ot t|e annua|
net pronts ot t|e Company. Hotw|t|stano|ng anyt||ng to t|e contrary |ere|n
conta|neo, w|ere |n any nnanc|a| year our|ng t|e currency ot tenure ot t|e
L|rector 8 C||et l|nanc|a| Omcer, t|e Company |as no pronts or |ts pronts are
|naoequate, t|e Company w||| pay remunerat|on tor a per|oo not exceeo|ng t|ree
years by way ot sa|ary, comm|ss|on ano perqu|s|tes as prov|oeo above or t|e
max|mum remunerat|on payab|e as per t|e ||m|ts set out |n Sect|on ll ot art ll ot
Sc|eou|e Xlll ot t|e Compan|es Act, :,6, w||c|ever |s |ower, un|ess ot|erw|se
oeterm|neo by t|e 3oaro ot L|rectors or t|e lemunerat|on Comm|ttee, subject
to approva| ot Centra| Covernment, |t requ|reo, as ||n|mum lemunerat|on.
|e above ment|oneo remunerat|on may be a|tereo, amenoeo, var|eo,
en|anceo or moo|neo trom t|me to t|me by t|e 3oaro ot L|rectors ot Company
or t|e lemunerat|on Comm|ttee as |t may, at |ts o|scret|on, oeem nt, w|t||n
t|e max|mum amount payab|e to |anag|ng ano v|o|e |me L|rectors |n
accoroance w|t| t|e prov|s|ons ot t|e Compan|es Act, :,6, |nc|uo|ng t|ose ot
Sc|eou|e Xlll or any amenoments t|ereto maoe |ereatter |n t||s regaro w|t||n
t|e over a|| ||m|ts approveo by t|e Company |n Cenera| |eet|ng.
ln terms ot t|e Sc|eou|e Xlll to t|e Compan|es Act, :,6, t|e Company can rev|se
t|e ||m|t ot payment ot manager|a| remunerat|on |n a nnanc|a| year w|en |t |as no
pront or |as |naoequacy ot pront. |e Company can pay remunerat|on ot upto
C , |acs per mont| by way ot sa|ary as we|| as perqu|s|tes prov|oeo, X]cTaP[XP t|e
members' approva| by way ot spec|a| reso|ut|on |as been obta|neo tor payment
ot manager|a| remunerat|on tor a per|oo not exceeo|ng t|ree years. Accoro|ng|y,
t|e reso|ut|on at ltem Hos. 6 |s put betore t|e members as Spec|a| leso|ut|on.
As requ|reo unoer Sc|eou|e Xlll to t|e Compan|es Act :,6, t|e re|evant oeta||s tor
ltem Ho. 6 to be sent a|ongw|t| t|e not|ce ca|||ng t|e genera| meet|ng are as unoer.
l. eeneral lnformation
:. Hature ot lnoustry . ext||es lnoustry
.. Late or Lxpecteo Late ot Commencement ot Commerc|a|
roouct|on .
|e Company was |ncorporateo on :st !une, :,: ano commenceo
commerc|a| proouct|on t|ereatter.
. ln case ot Hew Compan|es, Lxpecteo Late ot Commencement
ot Act|v|t|es as per roject Approveo by l|nanc|a| lnst|tut|ons
appear|ng |n t|e rospectus . Hot app||cab|e
,. l|nanc|a| ertormance baseo on g|ven lno|cators (As per auo|teo
l|nanc|a| Statements tor t|e year enoeo :.o..o::)
art|cu|ars C |n Crores
Sa|es 8 Ot|er lncome .,..,
L3lLA ,,.
Het ront :,.8o
. Lxport ertormance ano Het lore|gn Lxc|ange Co||aborat|ons (As
per auo|teo l|nanc|a| Statements tor t|e year enoeo :.o..o::)
Larn|ngs |n lore|gn Lxc|ange by Lxports . C::,.8 Crores.
6. lore|gn lnvestments or Co||aborators, |t any. Hot App||cab|e.
ll. lnformation about the appointees
v. Background details :
|r. !ayes| k. S|a|, a commerce graouate ano C|artereo
Accountant |as been |n emp|oyment w|t| t|e Company s|nce :st
!u|y, :,, ano pr|or to ||s emp|oyment w|t| t|e Company |e was
assoc|ateo w|t| group compan|es tor seven years.
z. ast emuneration:
art|cu|ars l/. o,-:o l/. :o-::
Sa|ary o,oo,ooo ,,o,ooo
erqu|s|tes/a||owances :,,,8o,6, ,,,:8,,,
Comm|ss|on/3onus 86,oo,ooo
ota| :,6,,8o,6, :,,,,68,,,
Hote. lemunerat|on |nc|uoes contr|but|on to rov|oent luno ano
Superannuat|on.
. 1ob role and their Suitability :
|r. !ayes| k. S|a| |as been be appo|nteo as t|e L|rector ano C||et
l|nanc|a| Omcer ot t|e Company ano |e w||| carry out suc| out|es
as may be entrusteo to ||m by t|e C|a|rman ano |anag|ng L|rector
but subject to superv|s|on ano contro| ot 3oaro ot L|rectors, trom
t|me to t|me.
a||ng |nto cons|oerat|on ||s qua||ncat|ons ano expert|se |n t|e
re|evant ne|os, |e |s su|teo tor t|e respons|b|||t|es ass|gneo to ||m
by t|e 3oaro ot L|rectors.
q. emuneration roposed: S|nce t|e same |ave been a|reaoy
exp|a|neo |n oeta|| |ere|nabove, t|e same are not repeateo.
y. Comparat|ve lemunerat|on ron|e w|t| respect to lnoustry, S|ze ot
t|e Company, ron|e ot t|e os|t|on ano erson (|n case ot expatr|ates
t|e re|evant oeta||s wou|o be w.r.t. t|e country ot ||s or|g|n).
Cons|oer|ng t|e s|ze ot t|e Company, t|e pron|es ot |r. !ayes|
k. S|a|, t|e respons|b|||t|es s|ou|oereo by ||m ano t|e |noustry
benc|mar|s, t|e remunerat|on proposeo to be pa|o to ||m |s
commensurate w|t| t|e remunerat|on pac|ages pa|o to s|m||ar
appo|ntees |n ot|er compan|es.
6. ecun|ary le|at|ons||p L|rect|y or lno|rect|y w|t| t|e Company, or
le|at|ons||p w|t| t|e |anager|a| ersonne|, |t any .
3es|oes t|e remunerat|on proposeo, |r. !ayes| k. S|a| ooes
not |ave any pecun|ary re|at|ons||p w|t| t|e Company ano |ts
manager|a| personne|.
|e 3oaro commenos t|e reso|ut|on at ltem Hos. 6 tor your approva|.
|e Lratts ot Agreement to be entereo |nto between t|e Company ano |r.
!ayes| k. S|a| tor remunerat|on |s ava||ab|e tor |nspect|on by t|e s|are|o|oers at
t|e leg|stereo Omce ot t|e Company our|ng bus|ness |ours on any wor||ng oay.
S|nce t|e reso|ut|on at ltem Ho. 6 re|ates to payment ot remunerat|on
to |r. !ayes| k. S|a|, |e |s oeemeo to be concerneo or |nteresteo |n t|e
sa|o reso|ut|on. Hone ot t|e ot|er L|rectors ot t|e Company |s, |n any way,
concerneo or |nteresteo |n t|e reso|ut|on.
|e above exp|anatory statement a|so sets out an abstract ot mater|a| terms ot
t|e contract w|t| v|o|et|me L|rector ano |ence t|e same may be treateo as
an abstract ot memoranoum ot |nterest |n accoroance w|t| Sect|on o. ot t|e
Compan|es Act, :,6.
ltem No. y
|e Company |s present|y engageo ma|n|y |n t|e bus|ness ot text||es ano text||e
prooucts. ln t||s era ot econom|c ||bera||zat|on ano growt|, t|e Company |s
a|so |oo||ng at var|ous bus|ness opportun|t|es |n t|e area ot rea| estate ano
construct|on. |ere |s a |uge potent|a| tor oeve|opment ot var|ous tacets ot
rea|ty bus|ness |n lno|a |||e oeve|opment ot commerc|a| rea| estate, |osp|ta||ty
rea| estate, reta|| rea| estate ano res|oent|a| rea| estate oue to econom|c
growt| ot t|e country at macro ano m|cro |eve|. ln v|ew ot vast oemano
supp|y m|smatc| tor qua||ty graoe commerc|a| space, |ncreaseo o|sposab|e
|ncomes, en|anceo ro|e ot t|e serv|ce sector ano poss|b|||ty ot rap|o growt|
ot organ|zeo reta|| ma|es very strong case tor ventur|ng |nto bus|ness ot rea|
estate oeve|opment tor t|e Company.
/our Company |as certa|n unut|||zeo rea| estate assets w||c| |t can put to better
use ano oeve|opment ano can a|so exp|ore turt|er ano tap t|e opportun|t|es |y|ng
a|eao |n t|e boom|ng rea|ty mar|et. |e goa| ot t|e Company w||c| |as unut|||zeo
rea| estate assets |s to oes|gn, execute ano mar|et new rea| estate prooucts.
lt |s proposeo to start new ||ne ot bus|ness |n t|e ne|o ot rea| estate. ln oroer to
enab|e t|e Company to enter |nto rea| estate bus|ness, an amenoment |n t|e
object c|ause |s proposeo to be maoe by |nsert|ng new Sub-C|ause (.) (s) atter t|e
ex|st|ng Sub-C|ause (.) (r) ot t|e |emoranoum ano Assoc|at|on ot t|e Company.
|e rea| estate ano construct|on bus|ness act|v|t|es as o|scusseo |ere|nabove
can be conven|ent|y ano aovantageous|y comb|neo w|t| t|e ex|st|ng bus|ness
ot t|e Company.
Sect|on :, ot t|e Compan|es Act, :,6 st|pu|ates t|at t|e object c|ause ot t|e
|emoranoum ano Assoc|at|on can be a|tereo by a spec|a| reso|ut|on passeo
by t|e s|are|o|oers ot t|e Company. ln v|ew ot t||s, |t |s proposeo to see| t|e
s|are|o|oers approva| by way ot pass|ng t|e spec|a| reso|ut|on as atoresa|o.
|e 3oaro recommenos t|e spec|a| reso|ut|on, as set out |n t|e not|ce, tor
approva| by t|e s|are|o|oers.
Hone ot t|e o|rectors ot t|e Company |s concerneo or |nteresteo |n t|e
atoresa|o spec|a| reso|ut|on.
ltem No. 8
|e Company |as |nserteo new Sub-C|ause (.) (s) atter t|e ex|st|ng Sub-C|ause
(.) (r) |n t|e object c|ause ot |emoranoum ot Assoc|at|on ot t|e Company. lt
|s proposeo to commence a new bus|ness ot rea| estate as |nserteo |n t|e new|y
|ntroouceo Sub-C|ause ot object c|ause.
ursuant to Sect|on :,, (.A) ot t|e Compan|es Act, :,6, approva| ot t|e
s|are|o|oers |s necessary by way ot spec|a| reso|ut|on betore commencement
ot any ot t|e act|v|t|es as ment|oneo |n t|e proposeo new object c|ause ot t|e
|emoranoum ano Assoc|at|on ot t|e Company. Approva| ot t|e s|are|o|oers
|s soug|t tor commencement ano carry|ng out ot new bus|ness ano act|v|t|es as
oeta||eo |n Spec|a| leso|ut|on Ho. ,.
|e 3oaro recommenos t|e spec|a| reso|ut|on as set out |n t|e not|ce tor
approva| by t|e s|are|o|oers.
Hone ot t|e o|rectors ot t|e Company |s concerneo or |nteresteo |n t|e
atoresa|o spec|a| reso|ut|on.
ltem No.p
|e leso|ut|on Ho. , conta|neo |n t|e Hot|ce re|ates to a proposa| by t|e
Company to create, oner, |ssue ano a||ot equ|ty s|ares, CLls, ALls, lCLs,
HCLs, warrants ano/or ot|er secur|t|es convert|b|e |nto or ||n|eo to equ|ty
s|ares ano/or any ot|er |nstruments ano/or comb|nat|on ot |nstruments as
stateo |n t|e reso|ut|on as 'Securities'.
|e Company |as a comparat|ve|y ||g| gear|ng rat|o ano |t |s a|ways better to
ra|se equ|ty base ot t|e company to strengt|en t|e net wort| ano oebt/equ|ty
rat|o ot t|e company. |e Company neeos to augment |ts cap|ta| |eep|ng |n
v|ew t|e current macro-econom|c env|ronment, to acce|erate turt|er growt|,
tuno var|ous expans|on p|ans, |ong-term wor||ng cap|ta| requ|rements. lence,
t|e Company p|ans to |ssue Lqu|ty S|ares or Secur|t|es equ|va|ent t|ereto tor
an amount not exceeo|ng C oo crores |n va|ue ano t|eretore proposes |ssue
ot secur|t|es. |e actua| compos|t|on ot var|ous |nstruments w||| be oec|oeo
by t|e 3oaro |n consu|tat|on w|t| t|e |erc|ant 3an|ers/lnvestment 3an|ers
ano as per t|e requ|rements ot t|e tunos trom t|me to t|me ano suc| oner
s|a|| be maoe to any person |nc|uo|ng oomest|c/tore|gn |nvestors, lore|gn
lnst|tut|ona| lnvestors, Qua||neo lnst|tut|ona| 3uyers, rusts, |utua| lunos,
3an|s, lnsurance Compan|es, ens|on lunos etc. w|et|er t|ey be |o|oers ot
t|e Lqu|ty S|ares ot t|e Company or not.
|e Spec|a| leso|ut|on a|so see|s to empower t|e 3oaro, w||c| term s|a||
|nc|uoe any comm|ttee t|ereot, to unoerta|e a qua||neo |nst|tut|ona| p|acement
w|t| qua||neo |nst|tut|ona| buyers as oenneo by SL3l lCLl legu|at|ons. |e
3oaro ot L|rectors may |n |ts o|scret|on aoopt t||s mec|an|sm as prescr|beo
unoer C|apter vlll ot t|e SL3l lCLl legu|at|ons tor ra|s|ng t|e tunos tor t|e
above purposes.
|e pr|c|ng ot t|e |ssue wou|o be subject to SL3l lCLl legu|at|ons as t|e same
cannot be oec|oeo except at a |ater stage ano t|eretore |t |s not poss|b|e to
state t|e pr|ce or t|e exact number ot Secur|t|es or s|ares to be |ssueo. lor
t|e reasons atoresa|o, an enab||ng reso|ut|on |s proposeo to be passeo to g|ve
aoequate nex|b|||ty ano o|scret|on to t|e 3oaro to nna||se t|e terms ot t|e
|ssue. |e Secur|t|es |ssueo pursuant to t|e oner|ng(s) wou|o be ||steo on t|e
lno|an Stoc| Lxc|anges ano/or lnternat|ona||y lecogn|seo Stoc| Lxc|ange as
may be requ|reo.
Sect|on 8:(:A) ot t|e Compan|es Act, :,6 ano t|e re|evant c|auses ot t|e L|st|ng
Agreement w|t| t|e Stoc| Lxc|anges w|ere t|e Lqu|ty S|ares ot t|e Company
are ||steo prov|oes, X]cTaP[XP, w|en |t |s proposeo to |ncrease t|e |ssueo cap|ta|
ot t|e Company by a||otment ot t|e turt|er s|ares, suc| turt|er s|ares s|a||
be onereo to t|e ex|st|ng s|are|o|oers ot t|e Company |n a manner |a|o oown
|n Sect|on 8: un|ess t|e s|are|o|oers |n genera| meet|ng oec|oe ot|erw|se.
S|nce t|e Spec|a| leso|ut|on proposeo |n t|e Hot|ce re|ates to |ssue ot s|ares
to persons ot|er t|an ex|st|ng s|are|o|oers ot t|e Company, consent ot t|e
s|are|o|oers ot t|e Company |s be|ng soug|t |n terms ot Sect|on 8:(:A) ano
ot|er app||cab|e prov|s|ons ot t|e Compan|es Act, :,6.
Accoro|ng|y, t|e consent ot t|e s|are|o|oers ot t|e Company |s be|ng soug|t,
pursuant to t|e prov|s|ons ot Sect|on 8: (:A) ano ot|er app||cab|e prov|s|ons
ot t|e Compan|es Act, :,6 (Act), SL3l (lssue ot Cap|ta| ano L|sc|osure
lequ|rements) legu|at|ons, .oo, {"SLBl lCo egulations"} ano |n terms
ot t|e prov|s|ons ot t|e L|st|ng Agreements, to |ssue ano a||ot Secur|t|es as
stateo |n t|e Spec|a| leso|ut|on.
|e Company |s propos|ng to |ssue Secur|t|es to t|e Qua||neo lnst|tut|ona| 3uyers
to augment |ts cap|ta| ano to acce|erate turt|er growt|, tuno var|ous expans|on
p|ans, meet|ng |ong-term wor||ng cap|ta| requ|rements to nnance |nvestment
opportun|t|es tor t||s purpose see|s your approva| to t|e reso|ut|ons proposeo.
As per C|apter vlll ot t|e sa|o SL3l lCLl legu|at|ons, |ssue ot Secur|t|es, on Ql
bas|s, can be maoe at a pr|ce not |ess t|an t|e average ot t|e wee||y ||g| ano |ow
ot t|e c|os|ng pr|ces ot t|e Secur|t|es quoteo on a stoc| exc|ange our|ng t|e two
wee|s preceo|ng t|e le|evant Late. |e "elevant oate" means t|e oate ot t|e
meet|ng |n w||c| t|e 3oaro or t|e Comm|ttee ot L|rectors ou|y aut|or|seo by t|e
3oaro, oec|oes to open t|e proposeo |ssue.
|e exact pr|ce, proport|on, t|m|ng ano terms ot t|e |ssue ot Secur|t|es unoer t|e
Ql w||| be oec|oeo by t|e 3oaro baseo on t|e ana|ys|s ot spec|nc requ|rements
|n consu|tat|on w|t| t|e merc|ant ban|ers to t|e Ql |n accoroance w|t| t|e
SL3l lCLl legu|at|ons ano ot|er app||cab|e gu|oe||nes |ssueo by any statutory
aut|or|ty (|es). |e a||otment ot Secur|t|es w||| be maoe w|t||n a per|oo ot one
year trom t|e oate ot pass|ng ot t|e atoresa|o Spec|a| leso|ut|on exc|uo|ng t|e
t|me ta|en |n obta|n|ng t|e necessary approva|s, |t any, or w|t||n suc| turt|er
per|oo as may be prescr|beo or a||oweo by t|e SL3l, Stoc| Lxc|ange(s) or ot|er
concerneo aut|or|t|es.
Hone ot t|e L|rectors ot t|e Company |s |nteresteo or concerneo |n t|e sa|o
reso|ut|on.
eglstered Ohce: 8y Order of the 8oard
Naroda oad,
Ahmedabad-8o oz SAN1AY S. LALBHAl
Chalrman 8 Vanaglng Olrector
Oate : zoth Vay, zo
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
Olrectors` eort
o t|e |embers,
/our L|rectors are p|easeo to present t|e Annua| leport a|ong w|t| t|e
Auo|teo l|nanc|a| Statements tor t|e per|oo trom :st Apr||, .o:o to :st
|arc|, .o::.
v. llNANClAL LSuL1S
l|g|||g|ts ot l|nanc|a| lesu|ts tor t|e year are as unoer.
C |n Crores
zovo-vv .oo,-:o
urnover 8 Operat|ng lncome z6pv.zz .:6.8,
ront betore Leprec|at|on, lnterest, Lxcept|ona|
ltems 8 axat|on
qqy.yy .:..,
Less . lnterest ano l|nance costs vpq.yp :.,,
Cross ront atter lnterest 8 l|nance costs
but betore Leprec|at|on, Lxcept|ona| ltems 8
axat|on
zyo.p6 :6.8o
Less . Leprecat|on/ lmpa|rment vv6.v6 ::.8o
ront betore ax vq.8o ..oo
Less . Current ax z6.8q 8.,,
Aoo. |A Creo|t Lnt|t|ement {z6.8q} (8.,,)
ront tor t|e year vq.8o ..oo
3a|ance ot ront broug|t torwaro vq.qz .8..,
Less . Aojustment oue to Lemerger o.oo o.,
Less . ranster to Cap|ta| leoempt|on leserve o.oo :,.8o
Aoo. ranster trom Lebenture leoempt|on
leserve
o.po :..o
3a|ance Ava||ab|e tor Appropr|at|on qyo.vz :.:
/our L|rectors appropr|ate t|e same as unoer .
lnter|m L|v|oeno on reterence S|ares pa|o o.oo o.,6
ax on lnter|m L|v|oeno o.oo o.:
3a|ance carr|eo torwaro to next year qyo.vz :,.,.
ota| qyo.vz :,.,.
z. OLA1lONS :
/our L|rectors are p|easeo to report t|at our|ng t|e year .o:o-
::, t|e Company |as ac||eveo best nnanc|a| pertormance |n t|e
recent past. v|||e revenue |as grown by :6/, L3lLA |as grown
by / ano Het ront |as grown by :,/ at C : crores as aga|nst
Het ront ot C . crores |n t|e prev|ous nnanc|a| year. |e strong
pertormance ot Len|m ano S||rt|ng labr|cs w||c| ac||eveo :,/
growt| |n revenue |as been |ey or|vers ot t|e growt|. Lesp|te s|arp
|ncrease |n raw mater|a| cost, t|e Company |as been ab|e to expano
L3lLA marg|n w||c| oemonstrates t|e pr|c|ng power enjoyeo
by t|e Company |n t|e oomest|c as we|| as export mar|ets. lurt|er
s|gn|ncant operat|ona| emc|ency ga|ns |ave a|so contr|buteo to
||g|er prontab|||ty marg|ns.
A oeta||eo ana|ys|s ot t|e nnanc|a| resu|ts |s g|ven |n t|e |anagement
L|scuss|ons ano Ana|ys|s report w||c| torms part ot t||s report.
. olvloLNo
keep|ng |n m|no t|e neeo to conserve resources, your L|rectors oo
not recommeno any o|v|oeno on Lqu|ty S|ares tor t|e year.
q. llNANCL
Lur|ng t|e year, t|e Company |as repa|o t|e |nsta||ments ot erm
Loans amount|ng to C 86 crores ta|||ng oue our|ng t|e current year.
|e Company |as a|so maoe tres| borrow|ngs ot C ,. Crores tor
tuno|ng cap|ta| expeno|ture ano ot|er requ|rements. Long erm
Lebt |nc|uo|ng |ease ot t|e Company stanos to C ,88 crores as on
:st |arc|, .o::.
y. LMOLOYLL S1OCk O1lON SCHLML {LSOS}
|e Company |as |nst|tuteo t|e Lmp|oyees Stoc| Opt|on Sc|eme-
(LSOS) to grant equ|ty baseo |ncent|ves to certa|n e||g|b|e emp|oyees
ano o|rectors ot t|e Company ano |ts subs|o|ary compan|es.
.,.o |acs opt|ons were granteo to certa|n e||g|b|e emp|oyees ano
o|rectors ot t|e Company ano |ts subs|o|ary compan|es by t|e
lemunerat|on Comm|ttee at an exerc|se pr|ce ot C :,.6 eac|,
represent|ng one s|are tor eac| opt|on upon exerc|se. |e oeta||s as
per t|e requ|rements ot SL3l Cu|oe||nes are annexeo ano torm part
ot t||s report.
6. SuBSlolAlLS
A oeta||eo o|scuss|on on subs|o|ary compan|es ano t|e|r pertormance
our|ng t|e year |s conta|neo |n t|e |anagement L|scuss|on ano
Ana|ys|s leport w||c| torms part ot t||s leport.
ursuant to Account|ng Stanoaro AS-.: |ssueo by t|e lnst|tute
ot C|artereo Accountants ot lno|a, t|e Company |as prepareo
Conso||oateo l|nanc|a| Statements ot t|e Company ano |ts
subs|o|ar|es are |nc|uoeo |n t|e Annua| leport.
ln v|ew ot t|e c|osure ot bus|ness, t|e accounts ot Arv|no Overseas
(|aur|t|us) L|m|teo ano Arv|no Sp|nn|ng L|m|teo |ave not been
prepareo on t|e go|ng on concern bas|s. Arv|no ext||e ||||s L|m|teo
|as not commenceo |ts bus|ness. lence, t|e accounts ot t|ese
subs|o|ary compan|es |ave not been conso||oateo w|t| accounts ot
t|e Company as per t|e prov|s|ons ot t|e Account|ng Stanoaro .:
re|at|ng to Conso||oat|on ot Accounts.
y. olLC1OS
/our L|rectors express t|e|r gr|et at t|e sao oem|se ot |r. arun
S|et| on :8t| !u|y, .o:o w|o |ao serveo t|e Company as a L|rector
tor years ano p|ace on recoro t|e|r ||g|est sense ot apprec|at|on
tor t|e va|uab|e serv|ces renoereo by ||m to t|e Company.
Lr. 3a|u| L|o|a||a was appo|nteo as an Aoo|t|ona| L|rector ot t|e
Company on .:st !u|y, .o:o.
|s. lenu|a lamnat| was appo|nteo as an Aoo|t|ona| L|rector ot
t|e Company on .8t| October, .o:o. S|e |o|os omce on|y upto t|e
oate ot t||s Annua| Cenera| |eet|ng pursuant to t|e prov|s|ons ot
Sect|on .6o ot t|e Compan|es Act, :,6. |e Company |as rece|veo
a not|ce trom a member ot t|e Company |nteno|ng to propose |er as
a L|rector on t|e 3oaro.
At t|e ensu|ng Annua| Cenera| |eet|ng, |r. Sanjay S. La|b|a| ano
|r. Suo||r |e|ta, L|rectors ot t|e Company, ret|re by rotat|on, but
be|ng e||g|b|e, oner t|emse|ves tor re-appo|ntment.
8. COOA1L eOvLNANCL
/our Company |s comm|tteo to t|e tenets ot gooo Corporate
Covernance ano |as ta|en aoequate steps to ensure t|at t|e
requ|rements ot Corporate Covernance as |a|o oown |n C|ause ,, ot
t|e L|st|ng Agreement are comp||eo w|t|.
;
A separate report on Corporate Covernance ano a |anagement
L|scuss|on ano Ana|ys|s leport are be|ng pub||s|eo as a part ot t|e
Annua| leport ot t|e Company.
|e Auo|tors ot t|e Company |ave cert|neo t|at cono|t|ons ot
Corporate Covernance as st|pu|ateo unoer C|ause ,, ot t|e L|st|ng
Agreement are comp||eo by t|e Company ano t|e|r Cert|ncate |s
annexeo to t|e leport on Corporate Covernance.
p. LSONSlBlLl1Y S1A1LMLN1
|e L|rectors connrm t|at.
:. |n t|e preparat|on ot t|e annua| accounts, t|e app||cab|e
account|ng stanoaros |ave been to||oweo. |ere are no
mater|a| oepartures trom t|e app||cab|e account|ng stanoaros,
.. suc| account|ng po||c|es |ave been se|ecteo ano app||eo
cons|stent|y ano suc| juogements ano est|mates |ave been
maoe as are reasonab|e ano pruoent so as to g|ve a true ano
ta|r v|ew ot t|e state ot ana|rs ot t|e Company at t|e eno ot t|e
nnanc|a| year enoeo on :st |arc|, .o:: ano ot t|e pront ot t|e
Company tor t|at per|oo,
. proper ano sumc|ent care |as been ta|en tor t|e ma|ntenance
ot aoequate account|ng recoros |n accoroance w|t| t|e
prov|s|ons ot t|e Compan|es Act, :,6 tor sateguaro|ng t|e
assets ot t|e Company ano tor prevent|ng ano oetect|ng trauo
ano ot|er |rregu|ar|t|es, ano
,. t|e statements ot accounts tor t|e year enoeo on :st |arc|,
.o:: |ave been prepareo on a go|ng concern bas|s.
vo. llXLo oLOSl1S
|e Company |as not accepteo or reneweo any oepos|ts our|ng
t|e year. |ere are no outstano|ng ano overoue oepos|ts as at :st
|arc|, .o::.
vv. lNlOMA1lON LeAolNe CONSLvA1lON Ol LNLeY
L1C. ANo LMLOYLLS
lntormat|on requ|reo unoer Sect|on .:,(:)(e) ot t|e Compan|es Act,
:,6 reao w|t| lu|e . ot t|e Compan|es (L|sc|osure ot art|cu|ars
|n t|e leport ot 3oaro ot L|rectors) lu|es, :,88 ano unoer Sect|on
.:,(.A) ot t|e Compan|es Act, :,6 reao w|t| Compan|es (art|cu|ars
ot Lmp|oyees) lu|es, :,,, as amenoeo trom t|me to t|me, torms part
ot t||s report. lowever, as per t|e prov|s|ons ot Sect|on .:, (:)(b)
(|v), t|e report ano accounts are be|ng sent to a|| s|are|o|oers ot
t|e Company exc|uo|ng t|e |ntormat|on re|at|ng to conservat|on
ot energy, tec|no|ogy absorpt|on ano tore|gn exc|ange earn|ng
ano outgo, ano t|e statement ot part|cu|ars ot emp|oyees. Any
s|are|o|oer |nteresteo |n obta|n|ng suc| part|cu|ars may |nspect
t|e same at t|e leg|stereo Omce ot t|e Company or wr|te to t|e
Secretary tor a copy.
vz. Auol1OS
|e Auo|tors, Sorab S. Lng|neer 8 Co., ret|re ano oner t|emse|ves
tor re-appo|ntment. lt |s proposeo t|at Sorab S. Lng|neer 8 Co., be
re-appo|nteo as auo|tors ot t|e Company. /ou are requesteo to
appo|nt t|e auo|tors ano nx t|e|r remunerat|on.
v. ACkNOwLLoeLMLN1
/our L|rectors wou|o |||e to apprec|ate t|e enorts ot t|e Company's
emp|oyees tor t|e|r cont|nueo co-operat|on ano unst|nteo support
extenoeo to t|e Company. |e support ot a|| |enoers |nc|uo|ng
l|nanc|a| lnst|tut|ons, Commerc|a| 3an|s, Overseas 3an|s ano
venoors ano buyers |as a|so been |nva|uab|e to t|e Company's
pertormance ano your L|rectors ta|e t||s opportun|ty to apprec|ate
|t oeep|y.
8y Order of the 8oard
lace : Ahmedabad SAN1AY S. LALBHAl
Oate : zoth Vay, zo Chalrman and Vanaglng Olrector
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
8
Annexure to the Olrectors` eort
L|sc|osures unoer C|ause :..: ot t|e Secur|t|es ano Lxc|ange 3oaro ot lno|a (Lmp|oyee Stoc| Opt|on Sc|eme ano Lmp|oyee Stoc| urc|ase Sc|eme)
Cu|oe||nes, :,,, .
: Humber ot Opt|ons Cranteo H||
. r|c|ng lormu|a
Humber ot Opt|ons vesteo .,,.,oo
, Humber ot Opt|ons Lxerc|seo .,,.,oo
ota| Humber ot S|ares ar|s|ng out ot Lxerc|se ot Opt|ons .,,.,oo
6 Humber ot Opt|ons Lapseo HlL
, var|at|on |n t|e terms ot t|e Opt|ons Ho var|at|ons maoe.
8 |oney lea||zeo by Lxerc|se ot Opt|ons C ,,,,,,:./-
, ota| number ot Opt|ons |n lorce .,.,oo opt|ons
:o Lmp|oyee w|se Leta||s ot Opt|ons Cranteo to -
a Sen|or |anagement ersonne| H||
b Any ot|er emp|oyee w|o rece|ves a grant |n any one year ot opt|on amount|ng to
/ or more ot opt|ons granteo our|ng t|e year
H||
c loent|neo emp|oyees w|o were granteo opt|ons, our|ng any one year, equa|
to or exceeo|ng :/ ot t|e |ssueo cap|ta| (exc|uo|ng outstano|ng warrants ano
convers|ons) ot t|e company at t|e t|me ot grant
H||
:: L||uteo Larn|ngs er S|are (LS) pursuant to |ssue ot s|ares on exerc|se ot opt|on
ca|cu|ateo |n accoroance w|t| Account|ng Stanoaro (AS) .o Larn|ngs er S|are
C .6
:. v|ere t|e company |as ca|cu|ateo t|e emp|oyee compensat|on cost us|ng
t|e |ntr|ns|c va|ue ot t|e stoc| opt|ons, t|e o|nerence between t|e emp|oyee
compensat|on cost so computeo ano t|e emp|oyee compensat|on cost t|at s|a||
|ave been recogn|zeo |t |t |ao useo t|e ta|r va|ue ot t|e opt|ons, s|a|| be o|sc|oseo.
|e |mpact ot t||s o|nerence on pronts ano on LS ot t|e company s|a|| a|so be
o|sc|oseo.
Company accounts tor opt|ons unoer t|e |ntr|ns|c va|ue
met|oo. S|nce opt|ons are granteo at mar|et pr|ce, t|e
|ntr|ns|c va|ue |s H||.
lowever, |t ta|r va|ue ot t|e opt|ons (computeo us|ng t|e 3|ac|
Sc|o|es Opt|on r|c|ng |ooe|) was to be useo tor ca|cu|at|ng
t|e account|ng va|ue ot t|e opt|on, t|e compensat|on cost
wou|o |ave been C,.oo |acs ano t|e pronts wou|o |ave been
|esser by C ,.oo |acs
3as|c ano o||uteo LS wou|o |ave reouceo to C .6o, ano
C.6o: respect|ve|y.
:a ve|g|teo Average Lxerc|se r|ces tor opt|ons w|ose exerc|se pr|ce
|. equa|s mar|et pr|ce
||. exceeos mar|et pr|ce
|||. |s |ess t|an mar|et pr|ce
C:,.6
H||
H||
:b ve|g|teo la|r va|ues tor opt|ons w|ose exerc|se pr|ce
|. equa|s mar|et pr|ce
||. exceeos mar|et pr|ce
|||. |s |ess t|an mar|et pr|ce
C,..6
H||
H||
:, A oescr|pt|on ot t|e met|oo ano s|gn|ncant assumpt|ons useo our|ng t|e year to
est|mate t|e ta|r va|ues ot opt|ons, |nc|uo|ng t|e to||ow|ng
we|g|teo-average |ntormat|on.
|. r|s| tree rate
||. expecteo ||te
|||. expecteo vo|at|||ty
|v. expecteo o|v|oenos ano
v. t|e pr|ce ot t|e unoer|y|ng s|are |n t|e mar|et at t|e t|me ot opt|on grant.
3|ac| Sc|o|es Opt|on r|c|ng |ooe|. |e assumpt|ons are as
unoer
,.6:/
,.o: years
,./
o..8/
C:,.6
p
Cororate Governance eort
Company's hilosophy on Code of eovernance
|e Company's p|||osop|y on Corporate Covernance |s to atta|n t|e ||g|est |eve|s ot transparency, accountab|||ty ano |ntegr|ty. ||s object|ve extenos,
not mere|y to meet w|t| statutory requ|rements but a|so to go beyono t|em by putt|ng |nto p|ace proceoures ano systems w||c| are |n accoroance w|t|
best pract|ces tor governance. Corporate Covernance at Arv|no means be|ng respons|ve to asp|rat|ons ot a|| t|e sta|e|o|oers customers, supp||ers,
|enoers, emp|oyees, t|e s|are|o|oers ano expectat|ons ot t|e soc|ety. |e 3oaro ot L|rectors supports t|e broao pr|nc|p|es ot Corporate Covernance
ano |ays strong emp|as|s on |ts trustees||p ro|e to a||gn ano o|rect t|e act|ons ot t|e organ|zat|on to ac||eve |ts avoweo object|ves ot transparency,
accountab|||ty ano |ntegr|ty. C|ven be|ow |s t|e report on Corporate Covernance at Arv|no.
Board of oirectors
Composition of the Board
|e 3oaro |as 8 L|rectors, compr|s|ng ot . Lxecut|ve L|rectors v|z. : |anag|ng L|rector ano : L|rector ano C||et l|nanc|a| Omcer ano 6 Hon- Lxecut|ve
L|rectors. |e Hon-Lxecut|ve L|rectors w|o are a|so lnoepenoent L|rectors are |eao|ng protess|ona|s trom var|eo ne|os w|o br|ng |n |noepenoent
juogment to t|e 3oaro's o|scuss|ons ano oe||berat|ons.
|e to||ow|ng |s t|e Compos|t|on ot t|e 3oaro as at :st |arc|, .o::.
Sr.
No.
Name of oirector Lxecutive[Non-executive[lndependent No. of other
oirectorships in ublic
Limited Companies
No. of other Board[
Committees of which
Member [ Chairman
:
.
6
,
8
,
|r. Sanjay S. La|b|a|
|r. !ayes| k. S|a|
|r. Suo||r |e|ta
|r. arun S|et|*
Lr. 3a|u| L|o|a||a**
|r. l. v. k|anna
|r. C. |. /aowao|ar
|r. |unes| k|anna
|s. lenu|a lamnat|***
Lxecut|ve-C|a|rman 8 |anag|ng L|rector
Lxecut|ve-L|rector ano C||et l|nanc|a| Omcer
Hon-execut|ve-lnoepenoent L|rector
Hon-execut|ve-lnoepenoent L|rector
Hon-execut|ve-lnoepenoent L|rector
Hon-execut|ve-lnoepenoent 8 Hom|nee L|rector ot LXl| 3an| ot lno|a
Hon-execut|ve-lnoepenoent 8 Hom|nee L|rector ot lL3l 3an| L|m|teo
Hon-execut|ve-lnoepenoent L|rector
Hon-execut|ve-lnoepenoent L|rector
::
,
.
.
:
asC|a|rmanano: as|ember
, as a C|a|rman
-
: as |ember
: as |ember
-
* |r. arun S|et|, a Hon-execut|ve-lnoepenoent L|rector |as ceaseo to be a L|rector oue to oeat| on :8t| !u|y, .o:o.
** Lr. 3a|u| L|o|a||a |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector w|t| enect trom .:st !u|y, .o:o.
*** |s. lenu|a lamnat| |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector w|t| enect trom .8t| October, .o:o.
Board Agenda
|e annua| ca|enoar ot 3oaro ano Comm|ttee |eet|ngs |s agreeo upon at t|e beg|nn|ng ot eac| year. |eet|ngs are governeo by a structureo Agenoa ano
a 3oaro member may br|ng up any matter tor cons|oerat|on ot t|e meet|ng |n consu|tat|on w|t| t|e C|a|rman. Agenoa papers are genera||y c|rcu|ateo to
t|e 3oaro members at |east ,- wor||ng oays |n aovance. Leta||eo presentat|ons are maoe at t|e meet|ngs on a|| major |ssues to enab|e t|e 3oaro to ta|e
|ntormeo oec|s|ons. An |no|cat|ve ||st ot t|e |ntormat|on p|aceo betore t|e 3oaro our|ng t|e year |s as unoer.
Annua| 3uogets ano 0poates t|ereon.
Cap|ta| Lxpeno|ture roposa|s ano rev|ew ot t|e|r lmp|ementat|on.
Quarter|y ano Annua| lesu|ts.
roouct-w|se 3us|ness ertormance.
3us|ness resentat|ons cover|ng roouct|on, |ar|et|ng, law |ater|a|s, Sa|es, etc.
Hew rojects ano !o|nt ventures.
Sa|es ot |ater|a| Hature ot lnvestments, Subs|o|ar|es, Assets, etc. w||c| are not |n t|e norma| course ot bus|ness.
ertormance ot Subs|o|ar|es.
3us|ness lestructur|ng.
Lega| roceeo|ngs |nvo|v|ng t|e Company.
||nutes ot |eet|ngs ot Auo|t Comm|ttee, |anagement Comm|ttee, lemunerat|on Comm|ttee ano lnvestors' Cr|evance Comm|ttee.
|ater|a||y lmportant S|ow Cause Hot|ces, Hon-Comp||ances, |t any, etc.
Ot|er re|evant |ntormat|on perta|n|ng to t|e Company |nc|uo|ng |ntormat|on oeta||eo |n C|ause ,, ot t|e L|st|ng Agreement.
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
o
Meetings and Attendance
Lur|ng t|e year, t|e 3oaro ot L|rectors met , t|mes on .,t| |ay, .o:o, .,t| !u|y, .o:o, .8t| October, .o:o 8 .,t| !anuary, .o::. |e gap between
two 3oaro |eet|ngs was w|t||n t|e max|mum t|me gap prescr|beo |n C|ause ,, ot t|e L|st|ng Agreement. |e Attenoance ot L|rectors at t|ese 3oaro
|eet|ngs ano at t|e |ast Annua| Cenera| |eet|ng was as unoer.
Sr.
No.
Name of oirector Number of Board Meetings held during the
period when the oirector was on the Board
Number of
Board Meetings attended
whether present
at the previous AeM
: |r. Sanjay S. La|b|a| , , /es
. |r. !ayes| k. S|a| , , /es
|r. Suo||r |e|ta , Ho
, |r. arun S|et|* : - H.A.
Lr. 3a|u| L|o|a||a** /es
6 |r. l. v. k|anna , Ho
, |r. C. |. /aowao|ar , . Ho
8 |r. |unes| k|anna , . /es
, |s. lenu|a lamnat|*** . - H.A
* |r. arun S|et|, a Hon-execut|ve-lnoepenoent L|rector |as ceaseo to be a L|rector oue to oeat| on :8t| !u|y, .o:o.
**. Lr. 3a|u| L|o|a||a |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector w|t| enect trom .:st !u|y, .o:o.
*** |s. lenu|a lamnat| |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector w|t| enect trom .8t| October, .o:o.
Committees of the Board
|e 3oaro ot L|rectors |as const|tuteo , Comm|ttees ot t|e 3oaro v|z.
Auo|t Comm|ttee
lemunerat|on Comm|ttee
lnvestors' Cr|evance Comm|ttee ano
|anagement Comm|ttee
|e 3oaro oeterm|nes t|e terms ot reterence ot t|ese Comm|ttees trom t|me to t|me. |eet|ngs ot t|ese Comm|ttees are conveneo by t|e respect|ve
Comm|ttee C|a|rman/Company Secretary. At eac| 3oaro |eet|ng, m|nutes ot t|ese Comm|ttees are p|aceo betore t|e L|rectors tor t|e|r perusa| ano
not|ng.
v. Audit Committee
|e Auo|t Comm|ttee ot t|e Company compr|ses ot , members, a|| ot w|om are Hon-Lxecut|ve lnoepenoent L|rectors. |r. |unes| k|anna,
an lnoepenoent L|rector acts as C|a|rman ot t|e Comm|ttee. |e Comm|ttee members are protess|ona|s |av|ng requ|s|te exper|ence |n t|e ne|os ot
l|nance ano Accounts, 3an||ng ano |anagement.
|e Auo|t Comm|ttee met , t|mes our|ng t|e year. |e L|rector ano C||et l|nanc|a| Omcer ano representat|ves ot lnterna| ano Statutory Auo|tors
are |nv|tees to Auo|t Comm|ttee meet|ngs ano t|e Company Secretary acts as t|e Secretary ot t|e Auo|t Comm|ttee.
ole
|e terms ot reterence ot t|e Auo|t Comm|ttee are as unoer.
:. Overs|g|t ot t|e company's nnanc|a| report|ng process ano t|e o|sc|osure ot |ts nnanc|a| |ntormat|on to ensure t|at t|e nnanc|a| statement |s
correct, sumc|ent ano creo|b|e.
.. lecommeno|ng to t|e 3oaro t|e appo|ntment, re-appo|ntment ano, |t requ|reo, t|e rep|acement or remova| ot t|e statutory auo|tor ano t|e
nxat|on ot auo|t tees.
. Approva| ot payment ot statutory auo|tors tor any ot|er serv|ces renoereo by t|e statutory auo|tors.
,. lev|ew|ng, w|t| t|e management, t|e annua| nnanc|a| statements betore subm|ss|on to t|e boaro tor approva|, w|t| part|cu|ar reterence to.
(a) |atters requ|reo to be |nc|uoeo |n t|e L|rector's lespons|b|||ty Statement to be |nc|uoeo |n t|e 3oaro's report |n terms ot c|ause (.AA) ot
Sect|on .:, ot t|e Compan|es Act, :,6.
(b) C|anges, |t any, |n account|ng po||c|es ano pract|ces ano reasons tor t|e same.
(c) |ajor account|ng entr|es |nvo|v|ng est|mates baseo on t|e exerc|se ot juogment by management.
(o) S|gn|ncant aojustments maoe |n t|e nnanc|a| statements ar|s|ng out ot auo|t nno|ngs.
(e) Comp||ance w|t| ||st|ng ano ot|er |ega| requ|rements re|at|ng to nnanc|a| statements.
(t) L|sc|osure ot any re|ateo party transact|ons.
(g) Qua||ncat|ons |n t|e oratt auo|t report.
. lev|ew|ng, w|t| t|e management, t|e quarter|y nnanc|a| statements betore subm|ss|on to t|e boaro tor approva|.
6. lev|ew|ng, w|t| t|e management, pertormance ot statutory ano |nterna| auo|tors, aoequacy ot t|e |nterna| contro| systems.
,. lev|ew|ng t|e aoequacy ot |nterna| auo|t tunct|on, |t any, |nc|uo|ng t|e structure ot t|e |nterna| auo|t oepartment, stamng ano sen|or|ty ot t|e
omc|a| |eao|ng t|e oepartment, report|ng structure coverage ano trequency ot |nterna| auo|t.
8. L|scuss|on w|t| |nterna| auo|tors any s|gn|ncant nno|ngs ano to||ow up t|ereon.
,. lev|ew|ng t|e nno|ngs ot any |nterna| |nvest|gat|ons by t|e |nterna| auo|tors |nto matters w|ere t|ere |s suspecteo trauo or |rregu|ar|ty or a
ta||ure ot |nterna| contro| systems ot a mater|a| nature ano report|ng t|e matter to t|e boaro.
:o. L|scuss|on w|t| statutory auo|tors betore t|e auo|t commences, about t|e nature ano scope ot auo|t as we|| as post-auo|t o|scuss|on to
ascerta|n any area ot concern.
::. o |oo| |nto t|e reasons tor substant|a| oetau|ts |n t|e payment to t|e oepos|tors, oebenture |o|oers, s|are|o|oers (|n case ot non payment
ot oec|areo o|v|oenos) ano creo|tors.
:.. o rev|ew t|e tunct|on|ng ot t|e v||st|e 3|ower mec|an|sm, |n case t|e same |s ex|st|ng.
:. Carry|ng out any ot|er tunct|on as |s ment|oneo |n t|e terms ot reterence ot t|e Auo|t Comm|ttee.
Lxp|anat|on (|) . |e terms re|ateo party transact|ons s|a|| |ave t|e same mean|ng as conta|neo |n t|e Account|ng Stanoaro :8, le|ateo arty
L|sc|osure, |ssueo by |e lnst|tute ot C|artereo Accountants ot lno|a.
Lxp|anat|on (||) . lt t|e Company |as set up an auo|t comm|ttee pursuant to prov|s|on ot t|e Compan|es Act, t|e sa|o auo|t comm|ttee s|a|| |ave
suc| aoo|t|ona| tunct|ons / teatures as |s conta|neo |n t||s c|ause.
:,. |anagement o|scuss|on ano ana|ys|s ot nnanc|a| cono|t|on ano resu|ts ot operat|ons.
:. Statement ot s|gn|ncant re|ateo party transact|ons (as oenneo by t|e Auo|t Comm|ttee), subm|tteo by management.
:6. |anagement |etters / |etters ot |nterna| contro| wea|nesses |ssueo by t|e statutory auo|tors.
:,. lnterna| auo|t reports re|at|ng to |nterna| contro| wea|nesses, ano
:8. |e appo|ntment, remova| ano terms ot remunerat|on ot t|e C||et lnterna| Auo|tor s|a|| be subject to rev|ew by t|e Auo|t Comm|ttee.
:,. o |oo| |nto any ot|er matter w||c| may be reterreo to |t by t|e 3oaro.
.o. ln aoo|t|on to t|e above, t|e Comm|ttee s|a|| |ave suc| tunct|ons/ro|e/powers as may be spec|neo |n t|e Compan|es Act, L|st|ng Agreement
w|t| Stoc| Lxc|anges or any ot|er app||cab|e |aw.
Meetings and Attendance
Lur|ng t|e year, , Auo|t Comm|ttee |eet|ngs were |e|o on .,t| |ay, .o:o, .,t| !u|y, .o:o, .8t| October, .o:o 8 .,t| !anuary, .o::. |e Attenoance ot
|embers at meet|ngs was as unoer.
Sr.
No.
Name osition No. of Meetings held during
relevant period
No. of Meetings attended
: |r. arun S|et|* |ember :
. |r. |unes| k|anna C|a|rman , .
|r. l. v. k|anna |ember ,
, |r. C. |. /aowao|ar |ember , .
|r. Suo||r |e|ta** |ember : :
6 Lr. 3a|u| L|o|a||a*** |ember
* |r. arun S|et|, a Hon-execut|ve-lnoepenoent L|rector |as ceaseo to be a member ot t|e comm|ttee oue to oeat| on :8t| !u|y, .o:o.
** |r. Suo||r |e|ta was appo|nteo as a member ot t|e Comm|ttee on|y tor t|e meet|ng |e|o on .,t| |ay, .o:o.
*** Lr. 3a|u| L|o|a||a (Hon-execut|ve-lnoepenoent L|rector) |as been appo|nteo as a |ember ot t|e Comm|ttee w|t| enect trom .:st !u|y, .o:o.
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
z
z. emuneration Committee
|e 3oaro ot L|rectors ot t|e Company |as const|tuteo a lemunerat|on Comm|ttee cons|st|ng ot L|rectors, a|| ot w|om are Hon-Lxecut|ve
lnoepenoent L|rectors. |e lemunerat|on Comm|ttee o|o not meet our|ng t|e year.
ole
|e terms ot reterence ot t|e lemunerat|on Comm|ttee are as unoer.
:. o trame company's po||c|es tor compensat|on ano benents tor Lxecut|ve L|rectors.
.. o lev|ew ano recommeno compensat|on payab|e to t|e Lxecut|ve L|rectors.
. o aom|n|ster ano superv|se Lmp|oyee Stoc| Opt|on Sc|emes (LSOS) |nc|uo|ng tram|ng ot po||c|es re|ateo to LSOS ano rev|ew|ng grant ot
LSOS.
,. o lev|ew ll o||c|es ano |n|t|at|ves.
Meetings and Attendance
Ho meet|ng was |e|o our|ng t|e per|oo :st Apr||, .o:o to :st |arc|, .o::.
emuneration of oirectors
lemunerat|on ot Lxecut|ve o|rectors |s recommenoeo by t|e lemunerat|on Comm|ttee ano approveo by t|e 3oaro ot L|rectors ano t|e S|are|o|oers
ot t|e Company.
|e lemunerat|on Comm|ttee ano t|e 3oaro ot L|rectors at t|e|r respect|ve meet|ngs |e|o on ot| October, .oo, ano s|are|o|oers at t|e|r Annua|
Cenera| |eet|ng |e|o on .t| September, .o:o |ave approveo remunerat|on payab|e to |r. Sanjay S. La|b|a|, C|a|rman ano |anag|ng L|rector ot t|e
Company tor a per|oo ot t|ree years trom :st !anuary, .o:o to :st Lecember, .o:.. |e Company |as entereo |nto an agreement w|t| ||m |ay|ng oown
||s tenure, remunerat|on ano ot|er terms.
|e lemunerat|on Comm|ttee ano t|e 3oaro ot L|rectors at t|e|r respect|ve meet|ngs |e|o on .ot| |ay, .o:: |ave approveo remunerat|on payab|e
to |r. !ayes| k. S|a|, v|o|e-t|me L|rector w|t| oes|gnat|on as L|rector ano C||et l|nanc|a| Omcer ot t|e Company tor a per|oo ot t|ree years trom :st
October, .o:: to ot| September, .o:, subject to approva| ot t|e s|are|o|oers at t|e ensu|ng Annua| Cenera| |eet|ng. |e Company w||| enter |nto an
agreement w|t| ||m |ay|ng oown ||s tenure, remunerat|on ano ot|er terms.
|e remunerat|on ot Hon-Lxecut|ve L|rectors |s oeterm|neo by t|e 3oaro ano |s a|so approveo by t|e S|are|o|oers |n Cenera| |eet|ng. Hon-Lxecut|ve
L|rectors were pa|o S|tt|ng lees ot C,ooo/- tor every meet|ng ot 3oaro ot L|rectors or Comm|ttee attenoeo by t|em. Apart trom t||s, Hon-Lxecut|ve
L|rectors (ot|er t|an |anag|ng L|rector ano v|o|e |me L|rector(s)) are ent|t|eo tor comm|ss|on not exceeo|ng :/ ot t|e net pronts ot t|e Company
per annum tor eac| year tor a per|oo ot years commenc|ng trom :st Apr||, .o:o.
v|t||n t|e above ||m|t, Lxecut|ve L|rectors ano Hon-Lxecut|ve L|rectors |ave been pa|o comm|ss|on tor t|e year as unoer.
Sr.
No.
Name of oirector Salary
C
erquisites 8
Allowances C
Sitting lees C Commission[
Bonus C
1otal C
: |r. Sanjay S. La|b|a| (C|a|rman 8 |L) ,ooooo.oo ,6.o:6..o HlL :.ooooo.oo .66.o:6..o
. |r. !ayes| k. S|a| ,oooo.oo ,,:8,,.oo HlL 86ooooo.oo :,,68,,.oo
|r. Suo||r |e|ta HlL HlL oooo.oo ooooo.oo oooo.oo
, |r. arun S|et|* HlL HlL HlL HlL HlL
Lr. 3a|u| L|o|a||a** HlL HlL ,oooo.oo ,:,.oo ,,.oo
6 |r. l. v. k|anna HlL HlL oooo.oo 6ooooo.oo 6oooo.oo
, |r. C. |. /aowao|ar HlL HlL .oooo.oo 6ooooo.oo 6.oooo.oo
8 |r. |unes| k|anna HlL HlL .oooo.oo 6ooooo.oo 6.oooo.oo
, |s. lenu|a lamnat|*** HlL HlL HlL :6,86.oo :6,86.oo
* |r. arun S|et|, a Hon-execut|ve-lnoepenoent L|rector |as ceaseo to be a L|rector oue to oeat| on :8t| !u|y, .o:o.
** Lr. 3a|u| L|o|a||a |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector on .:st !u|y, .o:o.
*** |s. lenu|a lamnat| |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector on .8t| October, .o:o.
. lnvestors' erievance Committee
|e lnvestors' Cr|evance Comm|ttee |as , |embers compr|s|ng ot . Hon-Lxecut|ve L|rectors ano . Lxecut|ve L|rectors.
ole
|e terms ot reterence ot t|e lnvestors' Cr|evance Comm|ttee are as unoer.
oisclosures
(|) L|sc|osures on mater|a||y s|gn|ncant re|ateo party transact|ons |.e. transact|ons ot t|e Company ot mater|a| nature, w|t| |ts promoters, o|rectors or
t|e management, t|e|r subs|o|ar|es or re|at|ves etc. t|at may |ave potent|a| conn|cts w|t| t|e |nterest ot t|e Company at |arge .
ransact|ons w|t| re|ateo part|es are o|sc|oseo |n oeta|| |n Hote Ho. .. |n Hotes torm|ng part ot t|e Accounts annexeo to t|e nnanc|a| statements
tor t|e year. |ere were no re|ateo party transact|ons |av|ng potent|a| conn|ct w|t| t|e |nterest ot t|e Company at |arge.
(||) Leta||s ot non-comp||ance by t|e Company, pena|t|es, ano str|ctures |mposeo on t|e Company by Stoc| Lxc|ange or SL3l or ot|er aut|or|ty on any
matter re|ateo to cap|ta| mar|ets, our|ng |ast t|ree years. H||.
(|||) Leta||s ot comp||ance w|t| manoatory requ|rements ano aoopt|on ot t|e non-manoatory requ|rements ot C|ause ,,.
|e Company |as comp||eo w|t| t|e manoatory requ|rements re|at|ng to strengt|en|ng t|e respons|b|||t|es ot Auo|t Comm|ttee, |mprov|ng t|e
qua||ty ot nnanc|a| o|sc|osures, |nc|uo|ng re|ateo party transact|ons, ca|||ng upon Company 3oaro to aoopt torma| cooe ot conouct, c|ear|y sett|ng
out t|e pos|t|on ot nom|nee o|rectors ano |mprov|ng o|sc|osure re|at|ng to t|e compensat|on pa|o to non-execut|ve o|rectors ano secur|ng t|e
approva| ot s|are|o|oers tor t||s compensat|on, sett|ng t|e proceoure tor |ega| comp||ance ano per|oo|ca| rev|ew by t|e 3oaro.
|e Company |as not aoopteo t|e non-manoatory requ|rements.
Shareholders' lnformation
v. Name and oesignation of Compliance Omcer:
lamn|| v. 3||man|
Company Secretary
Arv|no L|m|teo
|r. H|t|n !os||
Sen|or Lxecut|ve
S|arepro Serv|ces (lno|a) r|vate L|m|teo
leg|strars 8 ranster Agents
z. oetails of Complaints [ queries received and redressed during vst April, zovo to vst March, zovv:
Sr. No. articulars of Complaints [ queries eceived edressed ending as on
v..zovv
: Hon-rece|pt ot S|are Cert|ncates 6 6 H||
. Hon-rece|pt ot L|v|oeno /lnterest varrants 8 8 H||
Connrmat|on ot Lemat Creo|t H|| H|| H||
, Hon-rece|pt ot Lebentures leoempt|on ayment H|| H|| H||
Hon-rece|pt ot Letter ot Oner, A||otment Aov|ce, S|are Cert|ncates etc. tor l|g|ts
lssue 8 Ot|ers
HA HA HA
6 Ot|ers Comp|a|nts rece|veo trom SL3l, Stoc| Lxc|anges, HSLL, lOC, Company
Law 3oaro etc.
H||
ota| ,, ,, H||
. Share 1ransfer oetails for the period from vst April, zovo to vst March, zovv:
1ransactions hysical oemat 1otal
Humber ot ransters o, :6, .:6:
Average Humber ot ransters per mont| ,. :8 :8o
Humber ot S|ares ransterreo ,,6, :,,:o888 :,,6o.,
Average Humber ot s|ares ransterreo per mont| ,::, :.oo,o, :.oo.:
Ho. ot eno|ng S|are ransters HlL HlL HlL
q. lnvestors' erievances:
|e leg|strars ano ranster Agents unoer t|e superv|s|on ot t|e Secretar|a| Lepartment ot t|e Company |oo| atter |nvestors' gr|evances. |r. H|t|n
!os|| ot S|arepro Serv|ces (lno|a) r|vate L|m|teo |s respons|b|e tor reoressa| ot lnvestors' Cr|evances. |e Company secretary ot t|e Company
|as been appo|nteo as t|e Comp||ance Omcer tor t||s purpose. At eac| |eet|ng ot t|e lnvestors' Cr|evance Comm|ttee, a|| matters perta|n|ng to
|nvestors |nc|uo|ng t|e|r gr|evances ano reoressa| are reporteo.
y. lnformation on eeneral Body Meetings:
{i} 1he last Annual eeneral Meetings of the Company were held as under:
Late |me venue
.t| September, .o:o :o.o a.m. |a|oreb|a| Lesa| la||, Hr.Law Caroen, L|||sbr|oge, A|meoabao-8ooo6
.t| September, .oo, ::.oo a.m. |a|oreb|a| Lesa| la||, Hr.Law Caroen, L|||sbr|oge, A|meoabao-8ooo6
:st !u|y, .oo8 :..o p.m. |a|oreb|a| Lesa| la||, Hr.Law Caroen, L|||sbr|oge, A|meoabao-8ooo6
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
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A v l N O L l V l ! L O ANNUAL LO! zoo - zo
Audltors` eort
1O 1HL BOAo Ol olLC1OS Ol AvlNo LlMl1Lo ON 1HL
CONSOLloA1Lo llNANClAL S1A1LMLN1S Ol AvlNo LlMl1Lo,
l1S SuBSlolAlLS ANo 1OlN1 vLN1uLS.
:. ve |ave exam|neo t|e attac|eo Conso||oateo 3a|ance S|eet ot
Arvind Limited ano |ts subs|o|ar|es ano !o|nt ventures (Arv|no
Croup) (exc|uo|ng subs|o|ar|es tor t|e reasons stateo |n Hote Ho.
ot Sc|eou|e :,) as at :st |arc| .o::, t|e Conso||oateo ront ano
Loss Account ano a|so t|e Conso||oateo Cas| l|ow Statement tor
t|e year t|en enoeo.
.. |ese conso||oateo nnanc|a| statements are t|e respons|b|||ty ot
t|e Company's management. Our respons|b|||ty |s to express an
op|n|on on t|ese nnanc|a| statements baseo on our auo|t. ve |ave
conoucteo our auo|t |n accoroance w|t| t|e genera||y accepteo
auo|t|ng stanoaros |n lno|a. |ese Stanoaros requ|re t|at we p|an
ano pertorm t|e auo|t to obta|n reasonab|e assurance w|et|er
t|e nnanc|a| statements are prepareo, |n a|| mater|a| respects, |n
accoroance w|t| an |oent|neo nnanc|a| report|ng tramewor| ano
are tree ot mater|a| m|sstatement. An auo|t |nc|uoes, exam|n|ng on
a test bas|s, ev|oence support|ng t|e amounts ano o|sc|osures |n t|e
nnanc|a| statements. An auo|t a|so |nc|uoes assess|ng t|e account|ng
pr|nc|p|es useo ano s|gn|ncant est|mates maoe by management, as
we|| as eva|uat|ng t|e overa|| nnanc|a| statements. ve be||eve t|at
our auo|t prov|oes a reasonab|e bas|s tor our op|n|on.
. ve o|o not auo|t t|e nnanc|a| statements ot seven Subs|o|ar|es
ano two !o|nt venture Lnt|t|es w|ose nnanc|a| statements renect
(betore g|v|ng enect to t|e conso||oat|on aojustments) tota| Assets
ot C .:.: Crores as at :st |arc| .o:: ano tota| levenue ot C :..o:
Crores tor t|e year t|en enoeo. |ese l|nanc|a| Statements |ave
been auo|teo by ot|er auo|tors w|ose reports |ave been turn|s|eo
to us ano our op|n|on, |n so tar as |t re|ates to t|e amount |nc|uoeo
|n respect ot t|ese subs|o|ar|es, |s baseo so|e|y on t|e report ot t|e
ot|er auo|tors.
,. ve o|o not auo|t t|e nnanc|a| statements ot t|ree !o|nt venture
Lnt|t|es w|ose nnanc|a| statements renect (betore g|v|ng enect to
t|e conso||oat|on aojustments) tota| Assets ot C :o:.8, Crores as
at :st |arc| .o:: ano tota| levenue ot C :,:.,. Crores tor t|e year
t|en enoeo w||c| were prepareo by t|e management. |e same
|as been cons|oereo tor t|e purpose ot conso||oat|on ano accepteo
as correct by us. Any aojustment to t|e|r ba|ances on comp|et|on ot
auo|t cou|o |ave consequent|a| enect on t|e attac|eo Conso||oateo
l|nanc|a| Statements.
. As ment|oneo |n Hote Ho. :, ot sc|eou|e :, |n respect ot ear|y
aoopt|on by Arv|no L|m|teo (lo|o|ng Company) ot Account|ng
Stanoaro (AS) o on 'l|nanc|a| lnstruments. lecogn|t|on ano
|easurement' ano L|m|teo rev|s|on ar|s|ng out ot |t |n ot|er
Account|ng Stanoaros, |ssueo by t|e lnst|tute ot C|artereo
Accountants ot lno|a, t|e |o|o|ng company |as measureo a|| |ts
l|nanc|a| Assets ano L|ab|||t|es at t|e|r respect|ve la|r va|ues or
at Amort|zeo Cost. Accoro|ng|y, Account|ng Stanoaro (AS): on
'Account|ng tor lnvestments' ano Account|ng Stanoaro (AS) ::
on '|e Lnects ot C|anges |n lore|gn Lxc|ange lates' |ave been
to||oweo on|y tor t|ose transact|ons w||c| are not w|t||n t|e scope
ot Account|ng Stanoaro (AS) -o. lao t|e Company to||oweo (AS)
:: ano (AS) : |n t|e|r ent|rety, t|e carry|ng amount ot lnvestments,
Secureo Loans ano 0nsecureo Loans wou|o |ave been ||g|er by
C .., Crores, C ..,: Crores ano C .o Crores respect|ve|y ano
carry|ng va|ue ot leoge leserve wou|o |ave been |ower by C :.8,
Crores respect|ve|y.
6. ve report t|at t|e conso||oateo nnanc|a| statements |ave been
prepareo by t|e Company |n accoroance w|t| t|e requ|rements ot
Account|ng Stanoaro (AS) .:, 'Conso||oateo l|nanc|a| Statements
ano Account|ng tor lnvestments |n Subs|o|ar|es |n Separate l|nanc|a|
Statements' w|t| reterence to note ment|oneo |n para above ano
Account|ng Stanoaro (AS) .,, 'l|nanc|a| leport|ng ot lnterests |n
!o|nt ventures', not|neo by Compan|es (Account|ng Stanoaros)
lu|es, .oo6 ano on t|e bas|s ot t|e separate auo|teo nnanc|a|
statements ot t|e Arv|no Croup |nc|uoeo |n t|e conso||oateo
nnanc|a| statements.
,. On t|e bas|s ot t|e |ntormat|on ano exp|anat|ons g|ven to us, ano
on t|e cons|oerat|on ot t|e separate auo|t reports on |no|v|oua|
auo|teo nnanc|a| statements ot t|e Arv|no Croup, we are ot t|e
op|n|on t|at .
(a) t|e Conso||oateo 3a|ance S|eet g|ves a true ano ta|r v|ew ot
t|e conso||oateo state ot ana|rs ot t|e Arv|no Croup as at :st
|arc|, .o::,
(b) t|e Conso||oateo ront ano Loss Account g|ves a true ano ta|r
v|ew ot t|e conso||oateo resu|ts ot operat|ons ot t|e Arv|no
Croup tor t|e year t|en enoeo ano
(c) t|e Conso||oateo Cas| l|ow Statement g|ves a true ano ta|r
v|ew ot t|e conso||oateo cas| nows ot t|e Arv|no Croup tor
t|e year t|en enoeo.
lor SOAB S. LNelNLL 8 CO.
l|rm leg|strat|on Ho. ::o,:,v
C|artereo Accountants
CA. N. o. ANkLLSAlA
artner
A|meoabao, |ay .o, .o:: |embers||p Ho. :o.o
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
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Schedules formlng art of Consolldated Accounts
C in Crores C |n Crores
As at
v.o.zovv
As at
:.o..o:o
SCHLouLL '6' : lNvLS1MLN1S*
A. NON 1AoL lNvLS1MLN1S - {uNquO1Lo}
{HLLo-1O-MA1ul1Y}
eOvLNMLN1 SLCul1lLS {uNquO1Lo} o.oz o.o.
B. 1AoL lNvLS1MLN1S {AvAlLABLL lO SALL}
|. lu||y a|o Lqu|ty S|ares (Quoteo) vo.zz ..8
||. lu||y a|o Lqu|ty S|ares (0nquoteo) .8y ,.88
|||. O1HL lNvLS1MLN1S
lu||y a|o Lqu|ty S|ares ( Quoteo ) o.ov o.oo
lu||y a|o Lqu|ty S|ares ( 0nquoteo ) zz.oo ...oo
C. lNvLS1MLN1S lN SuBSlolAY COMANlLS (Hote Ho.)
lu||y a|o Lqu|ty S|ares ( 0nquoteo ) y.zq ,.o
o. lNvLS1MLN1 lN A1NLSHl llM** v.yp .o
L. SHAL ALlCA1lON MONLY q.8o :.:8
yy.yy ,,.,,
Less . rov|s|on tor o|m|nut|on |n va|ue ot lnvestment .yv .,:
qq.oq ,.,
Note :
* rev|ous|y c|ass|neo as Long erm lnvestments ano va|ueo at Cost
un|ess ot|erw|se stateo.
** |e nnanc|a| statements ot partners||p nrm are unoer comp||at|on ano
t|eretore t|e ba|ance ot cap|ta| account o|sc|oseo above |s subject to c|ange.
SCHLouLL 'y' : CuLN1 ASSL1S, LOANS ANo AovANCLS
CuLN1 ASSL1S
lnventories
Stores ano Spares qq.pz o.:8
lue| .z ..:,
Stock-in-trade
law |ater|a|s 8.vq :,8.,
l|n|s|eo Cooos v88.yy :6.6,
l|n|s|eo Cooos (raoeo) zo8.8v :6.:
Cooos |n rans|t 6.yy 8.:,
vor|-|n-rogress 66.8z .88.,
roject vor|-|n-rogress / |ater|a| vor| at S|te .y .,.,
vaste z.qy ..o8
vvpo.zy ,,8.86
vz8.yv 8o:..
Lano le|o tor Sa|e q.yo o.oo
Sundry oebtors {unsecured}
Outstano|ng tor a per|oo exceeo|ng s|x mont|s
Cons|oereo Cooo qp.y .6.
Cons|oereo Loubttu| .y8 ..86
Less.rov|s|on .y8 ..86
o.oo o.oo
qp.y .6.
Ot|ers (Cons|oereo Cooo) qyv.8y ,,.,
yov.zz ,..,.
Schedules formlng art of Consolldated Accounts
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
C in Crores C |n Crores
As at
v.o.zovv
As at
:.o..o:o
SCHLouLL 'y' : CuLN1 ASSL1S, LOANS ANo AovANCLS (Conto.)
Cash 8 Bank Balances
Cas| on |ano v.zy :..
C|eques on |ano o.oz :.:o
Bank Balances
with Scheduled Banks in lndia
ln Current Accounts ( |nc|uo|ng C o. Crores |n unpa|o vq.8v :..
o|v|oeno accounts ) (C o. Crores)
ln Lxc|ange Larners lore|gn Currency A/c o.vy o.o8
ln Cas| Creo|t Account 8.v8 ,.8.
ln Sav|ngs Account {C qy,8o8[-} (C ,.,,./-)
ln l|xeo Lepos|t Accounts q.zq :.,o
(C ...o Crores |oogeo w|t| 3an| as Secur|ty tor Cuarantee
lac|||ty ano C o.o: Crores |oogeo w|t| Court tor LSl case
(C :..: Crores ano C o.o: Crores respect|ve|y)
with Banks outside lndia o.vq o.::
(ln boo|s ot tore|gn subs|o|ar|es)
yy.yz ,.o
y8.8v ,.6
Other Current Assets
lnterest accrueo o.qv o.6
Ot|er rece|vab|es vo8.yy :o..
vo8.p8 :o.88
LOANS 8 AovANCLS {unsecured, Considered
eood unless stated Otherwise}
Loans 8 Advances
Aovances lece|vab|e |n Cas| or k|no zzq.y6 .oo.
|A Creo|t Lnt|t|ement lece|vab|e 6o.q8 ,.88
Ot|er Loans q.8q ,.,o
zp.o8 .8:.:
Cons|oereo Loubttu| v.vy :.:,
Less . rov|s|on v.vy :.:,
o.oo o.oo
Loans ano Aovances to Subs|o|ary Compan|es
Cons|oereo Loubttu| y.pv ,.,:
Less . rov|s|on y.pv ,.,:
o.oo o.oo
Aovance ax pa|o (Het ot ax rov|s|on ot C 8,.8, Crores, y.p8 ,.68
(C ,,., Crores) ) y.o6 .8.,,
zzyp.o8 :6,6.6,
Schedules formlng art of Consolldated Accounts
C in Crores C |n Crores
As at
v.o.zovv
As at
:.o..o:o
SCHLouLL '8': CuLN1 LlABlLl1lLS 8 OvlSlONS
Current Liabilities
Acceptances v6z.q :.,
Sunory Creo|tors
-Lue to ||cro ano Sma|| Lnterpr|ses (Hote Ho.:8) o.oo o.oo
-Ot|ers 6yz.v .6.,
Ot|er L|ab|||t|es (Hote Ho.,) zvv.vy :,o.68
lnterest accrueo but not oue on Loans v.6z :.,:
lnvestor Loucat|on 8 rotect|on luno s|a||
be creo|teo by t|e to||ow|ng amounts name|y . _
- 0npa|o L|v|oeno o. o.
- 0npa|o |atureo Lebentures o.z o..
- lnterest on Lepos|ts o.o6 o.o6
- lnterest on Lebentures o.oo o.:,
o.6z o.8:
voq8.vy 68.o8
rovisions
ax on L|v|oeno o.o6 o.o6
ens|on o.y6 o.,
Cratu|ty z.yy ..o
Superannuat|on v.6y o.:o
Leave Lncas|ment vo.6o 6.6.
Ot|ers o.o8 :.:,
vy.yz :o.,.
vo6.8y 6,.8o
_ Ho amount |s oue as on :st |arc|, .o:: tor creo|t to lnvestor Loucat|on ano
rotect|on luno (luno). |e actua| amount to be transterreo to t|e tuno |n t||s
respect w||| be oeterm|neo on t|e respect|ve oue oates.
SCHLouLL 'p': MlSCLLLANLOuS LXLNol1uL
(o t|e extent not wr|tten on)
re||m|nary Lxpenses o.op o.oo
Less . vr|tten on our|ng t|e /ear o.o o.oo
o.o6 o.oo
letrenc|ment Compensat|on unoer vlS o.oo :o.o,
Aoo . Aoo|t|on our|ng t|e /ear o.oo o.:
Less . Aojusteo our|ng t|e /ear o.oo :o..o
o.oo o.oo
o.o6 o.oo
Schedules formlng art of Consolldated Accounts
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
C in Crores
zovo-vv
C |n Crores
.oo,-:o
SCHLouLL 'vo': OLA1lNe lNCOML
rocess|ng lncome vz.yy :,.,
(lncome ax oeoucteo C o.. Crores rev|ous /ear C o.,8 Crores)
Ot|er Operat|ng lncome z8.vp .,.::
(lncome ax oeoucteo C o.,o Crores rev|ous /ear C o.8o Crores)
Ca|n on lorwaro Contracts zy.qy :..:o
68.q .,,
SCHLouLL 'vv': O1HL lNCOML
lncome trom lnvestments
lrom raoe lnvestments o.zy o.:,
Ot|er lncome q.qy ,.,o
(lncome ax oeoucteo C o.o, Crores rev|ous /ear C o..8 Crores)
lent o.6y o.6:
(lncome ax oeoucteo C o.o Crores rev|ous /ear C o..: Crores)
ront on Sa|e ot l|xeo Assets (Het) o.vz ,.8:
Lxcess rov|s|on Ho Longer requ|reo (Het) v.yv :.:
y.zo .:.,6
SCHLouLL 'vz': LMLOYLLS' LMOLuMLN1S
Sa|ar|es, vages, 3onus ano Cratu|ty qq.zv o..
Contr|but|on to rov|oent luno ano Ot|er lunos y.8q .8.o
ve|tare Lxpenses p.yp ,..
8p.8q 8.o8
L|rectors' lemunerat|on z.yq .,.
L|rectors' Comm|ss|on z.qo o.:,
q.pq .,
pq.y8 ,:.6,
SCHLouLL 'v': O1HLS
ower 8 lue| oy.p .o.,
Stores Consumeo zqz.6 ..o8
rocess|ng C|arges yp.68 8.,:
lepa|rs
3u||o|ng lepa|rs z.oq ..,,
|ac||nery lepa|rs p6.ov ,8.,
Ot|er lepa|rs v.yq :.,
vvv.yp 6...
Construct|on Contract Lxpense 66.y o.oo
r|nt|ng, Stat|onery ano Commun|cat|on p.v8 ,.8,
lnsurance prem|um y.o8 6.:
lates 8 axes vo.vy 8.,,
Lxc|se outy v.q o.:
lent qv.po 6,.8,
Schedules formlng art of Consolldated Accounts
;
C in Crores
zovo-vv
C |n Crores
.oo,-:o
SCHLouLL 'v': O1HLS (Conto.)
Comm|ss|on, 3ro|erage ano L|scount 8.pv 6,.,.
loya|ty on Sa|es zv.q :..8
Aovert|sement Lxpenses yp.6o .,:
lre|g|t,lnsurance ano C|ear|ng C|arges .qy 6.o,
||sce||anous Labour C|arges o.zo ,8.o,
rov|s|on tor ooubttu| oebt/Aovances v.vp o.oo
3ao Lebts/Aovances vr|tten On o.v o..
l|xeo Assets vr|tten On o.yz o.o
Loss on Sa|e ot lnvestments (net) o.vo o.oo
L|rectors lees o.oy o.o6
Ot|er Lxpenses v6y.q ,..,
vz6p.py :o8.66
SCHLouLL 'vq': lN1LLS1 ANo llNANCL COS1S {NL1}
lnterest
On |oans tor a l|xeo er|oo vq6.pp :,,.86
Ot|ers 6y.v6 ,.6
zvq.vy .....
Less . lnterest lncome
lnterest trom Ot|ers vy.6v ....6
(lncome ax oeoucteo C o.8 Crores rev|ous /ear C ..:: Crores)
Het lnterest Lxpenses vp6.yq .oo.,6
Ot|er l|nance Cost yq.6v ,..
Lxc|ange late L|nerence {6.oy} (...)
zqy.vo .::.6,
SCHLouLL 'vy': {lNCLASL} lN S1OCkS
linished eoods, work-in-rogress and waste
C|os|ng Stoc|s y8z.z ,.8.8,
Open|ng Stoc|s qz8.8q ,,.o.
Less . Aojusteo aga|nst Secur|t|es rem|um (Hote Ho. :) zo.zy o.oo
Less . vr|tten on our|ng t|e /ear o.oq o.oo
Aoo/(Less) . Aojustment on account ot Conso||oat|on/Lemerger z.vp (.8.6o)
qvo.yq ,..,.
{vyv.qp} (.,.)
Lxc|se Luty |n va|ue ot Stoc|s - lncrease / (Lecrease) o.oq (o.o:)
(lncrease) |n Stoc| {vyv.qy} (.,)
SCHLouLL 'v6': lO LlOo lNCOML [ {LXLNSL}
Ot|er Lxpense le|at|ng to Lar||er /ear o.oo (o.:,)
o.oo (o.:,)
Schedules formlng art of Consolldated Accounts
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
8
SCHLouLL vy : NO1LS lOMlNe A1 Ol CONSOLloA1Lo
ACCOuN1S:
v. BASlS Ol CONSOLloA1lON
Basis
(|) |e Conso||oateo l|nanc|a| Statements |ave been prepareo |n
accoroance w|t| Account|ng Stanoaro - .: on Conso||oateo
l|nanc|a| Statements not|neo by Compan|es (Account|ng
Stanoaros) lu|es, .oo6 ano re|evant c|ar|ncat|ons |ssueo
by t|e lnst|tute ot C|artereo Accountants ot lno|a. |e
Conso||oateo l|nanc|a| Statements compr|se t|e nnanc|a|
statements ot Arvind Limited ano |ts subs|o|ar|es ano |ts
!o|nt venture ent|t|es. leterence |n t|ese notes to Arv|no
L|m|teo, Company, arent Company, Compan|es or Croup
s|a|| mean to |nc|uoe Arv|no L|m|teo or any ot |ts subs|o|ar|es
ano |ts !o|nt venture ent|t|es conso||oateo |n t|e nnanc|a|
statements, un|ess ot|erw|se stateo.
(||) |e Hotes ano S|gn|ncant o||c|es to t|e Conso||oateo
l|nanc|a| Statements are |ntenoeo to serve as a gu|oe tor
better unoerstano|ng ot t|e Croup's pos|t|on. ln t||s respect,
t|e Company |as o|sc|oseo suc| notes ano po||c|es, w||c|
represent t|e neeoeo o|sc|osure.
rinciples
(|) |e nnanc|a| statements ot t|e Company ano |ts subs|o|ary
compan|es |ave been comb|neo on a ||ne-by-||ne bas|s by aoo|ng
toget|er |||e |tems ot assets, ||ab|||t|es, |ncome ano expenses.
|e |ntra-group ba|ances ano |ntra-group transact|ons ano
unrea||seo pronts or |osses are tu||y e||m|nateo.
(||) |e o|nerence between cost to t|e Company ot |ts
|nvestments |n t|e subs|o|ary compan|es ano |ts s|are ot t|e
equ|ty ot t|e subs|o|ary compan|es, at t|e oates on w||c|
t|e |nvestments |n t|e subs|o|ary compan|es are maoe, |s
recogn|seo as Cooow||| or Cap|ta| leserve as t|e case may be.
(|||) ||nor|ty |nterest |n t|e net assets ot conso||oateo
subs|o|ar|es cons|sts ot t|e amount ot equ|ty attr|butab|e to
t|e m|nor|ty s|are|o|oers at t|e oates on w||c| |nvestments
are maoe by t|e Company |n t|e subs|o|ary compan|es ano
turt|er movements |n t|e|r s|are |n t|e equ|ty subsequent to
t|e oates ot |nvestments.
(|v) ln case ot lore|gn Subs|o|ar|es, revenue |tems are
conso||oateo at t|e average rate preva|||ng our|ng t|e year.
A|| assets ano L|ab|||t|es are converteo at rates preva|||ng
at t|e eno ot t|e year. Any exc|ange o|nerence ar|s|ng on
trans|at|on |s accumu|ateo |n a lore|gn Currency rans|at|on
leserve |n t|e 3a|ance S|eet.
(v) |e subs|o|ary compan|es w||c| |ave c|oseo t|e|r bus|ness
ano o|sposeo on ent|re unoerta||ng ano ceaseo to operate as
go|ng concern bas|s |ave been exc|uoeo trom conso||oat|on
as t|ere are no mater|a| econom|c resources or ob||gat|ons
to be o|sc|oseo |n case ot suc| compan|es.
(v|) |e Company's |nterest |n t|e !o|nt venture |as been
conso||oateo on ||ne to ||ne bas|s by aoo|ng toget|er t|e va|ue
ot assets, ||ab|||t|es, |ncome ano expenses, atter e||m|nat|ng
t|e unrea||seo pronts/|osses ot |ntra group transact|ons.
!o|nt venture accounts |ave been |nc|uoeo |n segment to
w||c| t|ey re|ate.
z. 1HL LlS1 Ol SuBSlolAlLS lNCLuoLo lN 1HL
CONSOLloA1Lo llNANClAL S1A1LMLN1S AL AS uNoL:
Sr.
No.
Name of Subsidiary Country of
lncorporation
roportion of
Ownership as on
vst March zovv
: Asman lnvestments L|m|teo lno|a ,.6/
. Arv|no rooucts L|m|teo lno|a .66/
|e Anup Lng|neer|ng L|m|teo lno|a 88..,/
, Arv|no vor|ow|oe lnc. 0SA :oo/
Arv|no vor|ow|oe (|) lnc. |aur|t|us :oo/
6 Arv|no Acce| L|m|teo lno|a :oo/
, Synte| e|ecom L|m|teo lno|a :oo/
8 Arv|no lntrastructure L|m|teo lno|a :oo/
, Arv|no 3ranos 8 leta|| L|m|teo
(lormer|y |nown as S||verstone
ropert|es L|m|teo)
lno|a ,,.o/
:o Arv|no L|testy|e 3ranos L|m|teo lno|a ,,.,/
:: Arv|no leta|| L|m|teo lno|a ,,.,/
:. A|meoabao Last lntrastructure
LL
lno|a :oo/
. 1HL LlS1 Ol SuBSlolAlLS NO1 lNCLuoLo lN 1HL
CONSOLloA1Lo llNANClAL S1A1LMLN1S AL AS uNoL:
Sr.
No.
Name of Subsidiary Country of
lncorporation
roportion
of Ownership
as on
vst March zovv
: Arv|no Overseas (|aur|t|us)
L|m|teo
|aur|t|us :oo/
. Arv|no Sp|nn|ng L|m|teo |aur|t|us :oo/
Arv|no ext||e ||||s L|m|teo 3ang|aoes| :oo/
Notes:
:. Arv|no Overseas (|aur|t|us) L|m|teo ano Arv|no Sp|nn|ng L|m|teo
|ave c|oseo t|e|r bus|ness ano o|sposeo on ent|re unoerta||ng, ano
ceaseo to operate as go|ng concern bas|s.
.. Arv|no ext||e ||||s L|m|teo |as yet not commenceo bus|ness
operat|ons.
ln v|ew ot above, suc| subs|o|ar|es |ave been exc|uoeo trom
conso||oat|on as t|ere are no mater|a| econom|c resources or
ob||gat|ons to be o|sc|oseo |n case ot suc| compan|es. lnvestments |n
suc| subs|o|ar|es are c|ass|neo ano va|ueo as per Account|ng stanoaro
o l|nanc|a| lnstruments. |easurement ano lecogn|t|on |ssueo by
t|e lnst|tute ot C|artereo Accountants ot lno|a.
Schedules formlng art of Consolldated Accounts
p
q. 1HL lOLLOwlNe 1OlN1 vLN1uL LN1l1lLS HAvL
BLLN lNCLuoLo lN 1HL CONSOLloA1Lo llNANClAL
S1A1LMLN1S :
Sr.
No.
Name of 1oint venture Country of
lncorporation
roportion of
Ownership as on
vst March zovv
: Arya Omn|ta|| v|re|ess So|ut|ons
r|vateL|m|teo
lno|a o/
. Arya Omn|ta|| lao|o run||ng
Serv|ces r|vate L|m|teo
lno|a o/
Arv|no |urjan| 3ranos r|vate
L|m|teo
lno|a o/
, vlArv|no3ranosr|vateL|m|teo lno|a ,o/
Arv|no 3-Sata| lomes LL lno|a o/
y. SleNlllCAN1 ACCOuN1lNe OLlClLS
|e Company to||ows t|e accrua| met|oo ot account|ng. |e
nnanc|a| statements |ave been prepareo |n accoroance w|t|
t|e ||stor|ca| cost convent|on (except so tar as t|ey re|ate to
(a) reva|uat|on ot nxeo assets ano prov|o|ng tor oeprec|at|on
on reva|ueo amounts ano (b) |tems covereo unoer 'Account|ng
Stanoaro (AS) o' on 'l|nanc|a| lnstruments. lecogn|t|on ano
|easurement w||c| |ave been measureo at t|e|r ta|r va|ue) ano
account|ng pr|nc|p|es genera||y accepteo |n lno|a.
|e Accounts ot t|e tore|gn subs|o|ar|es |ave been prepareo |n
accoroance w|t| |oca| |aws ano app||cab|e account|ng stanoaros/
genera||y accepteo account|ng pr|nc|p|es.
{A} LvLNuL LCOeNl1lON
(A.:) Sa|es ano operat|ng |ncome |nc|uoes sa|e ot prooucts,
by-prooucts ano waste, |ncome trom job wor|
serv|ces ano ga|n or |oss on torwaro contracts. Sa|es
are recogn|zeo baseo on passage ot t|t|e to gooos
w||c| genera||y co|nc|oes w|t| o|spatc|. levenue
trom export sa|es are recogn|zeo on s||pment bas|s.
Sa|es are stateo net ot returns, exc|se outy 8 Sa|es ax/
vA. Lxport |ncent|ves are accounteo on accrua| bas|s
at t|e t|me ot export ot gooos, |t t|e ent|t|ement can
be est|mateo w|t| reasonab|e accuracy ano cono|t|ons
preceoent to c|a|m are tu|n||eo.
(A..) leta|| sa|es ano revenues are recogn|seo on oe||very ot
t|e merc|ano|se to t|e customer, w|en t|e property
|n t|e gooos |s transterreo tor a pr|ce, w|en s|gn|ncant
r|s|s ano rewaros |ave been transterreo ano no enect|ve
owners||p contro| |s reta|neo. Sa|es are net ot o|scount,
sa|es tax ano vA are reouceo trom leta|| urnover.
(A.) |e property |n t|e merc|ano|se ot t||ro party
cons|gnment stoc| ooes not pass to t|e Company.
S|nce, |owever, t|e sa|e ot suc| stoc| torms a part ot
t|e act|v|t|es ot t|e Company's oepartmenta| stores,
t|e gross sa|es va|ues ano cost ot t|e merc|ano|se are
o|sp|ayeo separate|y |n t|e pront ano |oss account.
(A.,) ln respect ot g|tt vouc|ers ano po|nt awaro sc|emes
operateo by t|e Company, sa|es are recogn|seo w|en
t|e g|tt vouc|ers or po|nts are reoeemeo ano t|e
merc|ano|se |s so|o to t|e customer.
(A.) levenue trom store o|sp|ays ano sponsors||ps are
recogn|seo baseo on t|e per|oo tor w||c| t|e prooucts
or t|e sponsors' aovert|sements are promoteo/
o|sp|ayeo. lac|||ty management tees are recogn|seo
pro-rata over t|e per|oo ot t|e contract.
(A.6) levenue trom job wor| serv|ces ano lenta| lncome
are recogn|zeo baseo on t|e serv|ces renoereo |n
accoroance w|t| t|e terms ot contracts.
(A.,) levenue |n respect ot projects tor Construct|on ot
|ants ano Systems, execut|on ot w||c| |s spreao
over o|nerent account|ng per|oos, |s recogn|seo on
t|e bas|s ot percentage ot comp|et|on met|oo |n
accoroance w|t| Account|ng Stanoaro , Account|ng
tor Construct|on Contracts.
ercentage ot comp|et|on |s oeterm|neo by t|e
proport|on t|at contract costs |ncurreo tor wor| oone
t||| oate bears to t|e est|mateo tota| contract cost.
L|nerence between costs |ncurreo p|us recogn|seo
pront / |ess recogn|seo |osses ano t|e amount |nvo|ceo
|s treateo as contract |n progress.
Leterm|nat|on ot revenues unoer t|e percentage
ot comp|et|on met|oo necessar||y |nvo|ves ma||ng
est|mates by t|e Company, some ot w||c| are ot
a tec|n|ca| nature, re|at|ng to t|e percentage ot
comp|et|on, costs to comp|et|on, ano t|e expecteo
revenue trom t|e contract ano t|e toreseeab|e |osses
to comp|et|on.
(A.8) C|a|ms rece|vab|e on account ot lnsurance are
accounteo tor to t|e extent t|e Company |s reasonab|y
certa|n ot t|e|r u|t|mate co||ect|on.
(A.,) L|v|oeno |s accounteo tor as ano w|en |t |s rece|veo.
{B} vALuA1lON Ol lNvLN1OY
(3.:) |e stoc| ot vor|-|n-progress ano l|n|s|eo gooos
|as been va|ueo at t|e |ower ot cost ano net rea||sab|e
va|ue. |e cost |as been measureo on t|e stanoaro
cost/mov|ng average/lllO bas|s as app||cab|e ano
|nc|uoes cost ot mater|a|s ano cost ot convers|on.
(3..) A|| ot|er |nventor|es ot stores, consumab|es, raw
mater|a|s (L|ectron|cs L|v|s|on) are va|ueo at cost.
|e stoc| ot waste |s va|ueo at mar|et pr|ce. |e ot|er
raw mater|a|s, nn|s|eo gooos ano stoc| at branc|es
are va|ueo at |ower ot cost ano mar|et va|ue. Cost |s
measureo on actua| average tor t|e w|o|e year. Lxc|se
outy w|erever app||cab|e |s prov|oeo on nn|s|eo
gooos |y|ng w|t||n t|e tactory ano bonoeo ware|ouse
at t|e eno ot t|e year.
{C} llXLo ASSL1S 8 oLLClA1lON
1angible Assets
(C.:) l|xeo assets are stateo at t|e|r or|g|na| cost ot
acqu|s|t|on or construct|on / reva|ueo cost w|erever
app||cab|e |ess accumu|ateo oeprec|at|on ano
|mpa|rment |osses. Cost compr|ses ot a|| costs
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
;o
|ncurreo to br|ng t|e assets to t|e|r |ocat|on ano
wor||ng cono|t|on ano |nc|uoes a|| expenses |ncurreo
up to t|e oate ot |aunc||ng new stores to t|e extent
t|ey are attr|butab|e to t|e new store.
(C..) Lano |e|o tor sa|e |s stateo at t|e |ower ot t|e|r net
boo| va|ue ano net rea||zab|e va|ue.
(C.) Lxc|ange rate ga|n or |oss on tore|gn currency |oans
re|ateo to acqu|s|t|on ot oeprec|ab|e assets are be|ng
cap|ta||zeo as per t|e not|ncat|on oateo :st |arc|,
.oo, |ssueo by ||n|stry ot Corporate Ana|rs, Hew
Le|||.
(C.,) Leprec|at|on on leva|ueo l|xeo Assets |s ca|cu|ateo on
t|e res|oua| ||te ot t|e assets or as per rates spec|neo
|n t|e Sc|eou|e Xlv to t|e Compan|es Act, :,6
w||c|ever |s ||g|er.
(C.) Aoo|t|ons to nxeo assets |ave been stateo at cost net
ot CLHvA w|erever app||cab|e.
(C.6) L|rect|y |oent|nab|e preoperat|ve expenses ot new
projects ot cap|ta| nature unoer |mp|ementat|on
are carr|eo torwaro unoer cap|ta| wor|-|n-progress,
peno|ng cap|ta||zat|on.
(C.,) Leprec|at|on on aoo|t|ons to l|xeo Assets |as been
prov|oeo on stra|g|t-||ne met|oo at t|e rates spec|neo
|n Sc|eou|e Xlv to t|e Compan|es Act, :,6, as ex|st|ng
at t|e t|me ot cap|ta||zat|on except tor motor ve||c|es
w|ere oeprec|at|on |as been prov|oeo at .o/./.
(C.8) Leprec|at|on on |ease |o|o |mprovements |n case ot
3ranoeo Carment o|v|s|ons |as been prov|oeo at :o/
8 |n case ot lurn|ture g|ven to Lmp|oyees |t |as been
prov|oeo at :8/.
(C.,) Leprec|at|on on |mpa|reo asset |s prov|oeo on t|e
asset's rev|seo carry|ng amount, over |ts rema|n|ng
usetu| ||te.
(C.:o) Leprec|at|on on exc|ange rate o|nerence cap|ta||zeo
|s prov|oeo over t|e ba|ance ||te ot t|e assets as per
t|e not|ncat|on oateo :st |arc|, .oo, |ssueo by t|e
||n|stry ot Corporate Ana|rs.
(C.::) lno|v|oua| assets cost|ng |ess t|an C ,ooo/- |ave been
tu||y oeprec|ateo |n t|e year ot purc|ase on pro rata
bas|s.
(C.:.) ln t|e case ot tore|gn subs|o|ar|es, oeprec|at|on |as
been prov|oeo as per t|e rates perm|tteo unoer t|e
|oca| |aws/ at suc| rate so as to wr|te on t|e assets over
|ts usetu| ||te.
(C.:) rem|um on Lease|o|o Lano |s amort|zeo over t|e
per|oo ot Lease.
(C.:,) leva|uat|on leserve on Assets so|o |s transterreo to
Cenera| leserve.
lntangible Assets
(C.:) lntang|b|e assets are stateo at t|e|r cost ot acqu|s|t|on
ano / or ta|r va|ue, |ess accumu|ateo amort|sat|on ano
|mpa|rment |osses. An |ntang|b|e asset |s recogn|seo,
w|ere |t |s probab|e t|at t|e tuture econom|c benents
attr|butab|e to t|e asset w||| now to t|e enterpr|se ano
w|ere |ts va|ue/cost can be re||ab|y measureo.
(C.:6) |e Company cap|ta||zes sottware ano re|ateo
|mp|ementat|on costs w|ere |t |s reasonab|y est|mateo
t|at t|e sottware |as an enour|ng usetu| ||te.
(C.:,) !ob vor|ers' Hetwor| va|ue ano venoors' Hetwor|
va|ue |ave been amort|zeo on Stra|g|t L|ne bas|s
over t|e per|oo ot nve years. va|ue ot L|cense 3ranos
ano 3rano va|ue |ave been amort|zeo |n t|e rat|o ot
revenue expecteo to be generateo trom t|ese branos
over t|e per|oo ot ten years.
(C.:8) Sottware |s oeprec|ateo over management est|mate ot
|ts usetu| ||te ot years.
(C.:,) atent/know|ow |s oeprec|ateo over |ts usetu| va||o|ty
per|oo.
{o} lNvLS1MLN1S
lor Arvind Limited
(L.:) lnvestments are c|ass|neo as |nvestments |n
Subs|o|ar|es, Ava||ab|e tor Sa|e ano le|o-to-|atur|ty
w|t||n t|e mean|ng ot Account|ng Stanoaro o on
'l|nanc|a| lnstruments. lecogn|t|on ano |easurement'
reao w|t| t|e ||m|teo rev|s|on ot Account|ng Stanoaro
.: on Conso||oateo l|nanc|a| Statements.
(L..) lnvestments |n subs|o|ar|es are va|ueo at cost |ess any
prov|s|on tor |mpa|rment. lnvestments are rev|eweo
tor |mpa|rment |t events or c|anges |n c|rcumstances
|no|cate t|at t|e carry|ng amount may not be
recoverab|e.
(L.) lnvestments c|ass|neo as ava||ab|e tor sa|e are re-
measureo at subsequent report|ng oates to ta|r va|ue.
0nrea||zeo ga|ns/|osses on suc| |nvestments are
recogn|seo o|rect|y |n lnvestment leva|uat|on leserve
Account. At t|e t|me ot o|sposa|, oe-recogn|t|on or
|mpa|rment ot t|e |nvestments, cumu|at|ve ga|n or |oss
prev|ous|y recogn|seo |n t|e |nvestment reva|uat|on
reserve account |s recogn|seo |n t|e pront ano |oss
account.
(L.,) lnvestments c|ass|neo as |e|o tor trao|ng t|at |ave a
mar|et pr|ce are measureo at ta|r va|ue ano ga|n/|oss
ar|s|ng on account ot ta|r va|uat|on |s routeo t|roug|
pront ano |oss account.
lor Subsidiaries and 1oint ventures
(L.) lnvestments are c|ass|neo as Long erm lnvestments
ano Current lnvestments. Long-term |nvestments are
stateo at cost |ess permanent o|m|nut|on |n va|ue, |t
any. Current lnvestments are stateo at |ower ot cost
ano net rea||zab|e va|ue.
{L} lMAlMLN1 Ol ASSL1S
An asset |s cons|oereo as |mpa|reo |n accoroance w|t|
Account|ng Stanoaro .8 on lmpa|rment ot Assets w|en at
ba|ance s|eet oate t|ere are |no|cat|ons ot |mpa|rment ano
t|e carry|ng amount ot t|e asset, or w|ere app||cab|e t|e
;
cas| generat|ng un|t to w||c| t|e asset be|ongs, exceeos |ts
recoverab|e amount (|.e. t|e ||g|er ot t|e asset's net se|||ng
pr|ce ano va|ue |n use). |e carry|ng amount |s reouceo to t|e
recoverab|e amount ano t|e reouct|on |s recogn|zeo as an
|mpa|rment |oss |n t|e pront ano |oss account.
{l} lOLleN CuLNCY 1ANSAC1lONS
(l.:) ransact|ons oenom|nateo |n tore|gn currenc|es are
norma||y recoroeo at t|e exc|ange rate preva|||ng at
t|e t|me ot t|e transact|on.
(l..) |onetary |tems oenom|nateo |n tore|gn currenc|es at
t|e year eno are restateo at year eno rates.
(l.) Hon-monetary tore|gn currency |tems are carr|eo at
cost.
(l.,) A|| |ong-term tore|gn currency monetary |tems
cons|st|ng ot |oans w||c| re|ate to acqu|s|t|on ot
oeprec|ab|e cap|ta| assets at t|e eno ot t|e year |ave
been restateo at t|e rate preva|||ng at t|e ba|ance
s|eet oate. |e o|nerence ar|s|ng as a resu|t |as
been aooeo to or oeoucteo trom t|e cost ot t|e
assets as per t|e not|ncat|on |ssueo by t|e ||n|stry
ot Corporate Ana|rs oateo |arc| :, .oo,. Lxc|ange
rate o|nerence on ot|er |ong-term tore|gn currency
|oans carr|eo to 'lore|gn Currency |onetary ltem
rans|at|on L|nerence Account' |as been amort|zeo
to be amort|zeo up to t|e per|oo ot |oan or up to |arc|
:, .o:. w||c|ever |s ear||er.
(l.) Any |ncome or expense on account ot exc|ange
o|nerence e|t|er on sett|ement or on trans|at|on
ot|er t|an as ment|oneo |n (l.,) above |s recogn|zeo
|n t|e pront ano |oss account.
(l.6) Lxpenses ot overseas omces are trans|ateo ano
accounteo at t|e mont||y average rate.
{e} oLlvA1lvLS ANo COMMOol1Y HLoelNe
1ANSAC1lONS
(C.:) ln oroer to |eoge |ts exposure to tore|gn exc|ange,
|nterest rate ano commoo|ty pr|ce r|s|s, t|e Company
enters |nto torwaro, opt|on, swap contracts ano ot|er
oer|vat|ve nnanc|a| |nstruments. |e Company ne|t|er
|o|os nor |ssues any oer|vat|ve nnanc|a| |nstruments
tor specu|at|ve purposes.
(C..) Ler|vat|ve nnanc|a| |nstruments are |n|t|a||y recoroeo
at t|e|r ta|r va|ue on t|e oate ot t|e oer|vat|ve
transact|on ano are re-measureo at t|e|r ta|r va|ue at
subsequent ba|ance s|eet oates.
(C.) C|anges |n t|e ta|r va|ue ot oer|vat|ves t|at are
oes|gnateo ano qua||ty as cas| now |eoges ano are
oeterm|neo to be an enect|ve |eoge are recoroeo
|n |eog|ng reserve account. o oes|gnate a torwaro
contract or opt|on as an enect|ve |eoge, management
object|ve|y eva|uates ano ev|oences w|t| appropr|ate
support|ng oocuments at t|e |ncept|on ot eac|
contract w|et|er t|e contract |s enect|ve |n ac||ev|ng
onsett|ng cas| nows attr|butab|e to |eogeo r|s|. Any
cumu|at|ve ga|n or |oss on t|e |eog|ng |nstrument
recogn|seo |n |eog|ng reserve |s |ept |n |eog|ng
reserve unt|| t|e torecast transact|on occurs or
t|e |eogeo account|ng |s o|scont|nueo. Amounts
oeterreo to |eog|ng reserve are recyc|eo |n t|e pront
ano |oss account |n t|e per|oos w|en t|e |eogeo |tem
|s recogn|seo |n t|e pront ano |oss account or w|en
t|e port|on ot t|e ga|n or |oss |s oeterm|neo to be an
|nenect|ve |eoge.
(C.,) Ler|vat|ve nnanc|a| |nstruments t|at oo not qua||ty tor
|eoge account|ng are mar|eo to mar|et at t|e ba|ance
s|eet oate ano ga|ns or |osses are recogn|seo |n t|e
pront ano |oss account |mmeo|ate|y.
(C.) leoge account|ng |s o|scont|nueo w|en t|e |eog|ng
|nstrument exp|res or |s so|o, term|nateo or exerc|seo,
or no |onger qua||nes tor |eoge account|ng. lt a |eogeo
transact|on |s no |onger expecteo to occur, t|e net
cumu|at|ve ga|n or |oss recogn|seo |n |eog|ng reserve
|s transterreo to pront or |oss tor t|e year.
{H} LMLOYLL BLNLll1S
(l.:) |e Company |as Lenneo Contr|but|on |ans tor
post emp|oyment benents name|y rov|oent luno
ano Superannuat|on luno w||c| are recogn|zeo
by t|e lncome ax Aut|or|t|es. |ese tunos are
aom|n|stereo t|roug| trustees ano t|e Company's
contr|but|ons t|ereto are c|argeo to revenue every
year. |e Company a|so pays |nsurance prem|ums to
tuno a post-emp|oyment meo|ca| ass|stance sc|eme,
a Lenneo Contr|but|on |an aom|n|stereo by lClCl
Lombaro Cenera| lnsurance Company L|m|teo w||c|
|s c|argeo to revenue every year. |e Company's
Contr|but|on to State |ans name|y Lmp|oyee's State
lnsurance luno ano Lmp|oyee's ens|on Sc|eme are
c|argeo to revenue every year.
(l..) |e Company |as Lenneo 3enent |ans name|y |eave
encas|ment/ compensateo absences ano Cratu|ty tor
a|| t|e emp|oyees, t|e ||ab|||ty tor w||c| |s oeterm|neo
on t|e bas|s ot an actuar|a| va|uat|on at t|e year eno
ano |ncrementa| ||ab|||ty, |t any, |s prov|oeo tor |n
t|e boo|s. |e actuar|a| va|uat|on |s oone baseo on
rojecteo 0n|t Creo|t |et|oo. Cratu|ty sc|eme |s
aom|n|stereo t|roug| trust recogn|seo by t|e lncome
ax Aut|or|t|es ano / or by LlC.
(l.) Actuar|a| Ca|ns ano Losses compr|se ot exper|ence
aojustments ano t|e enects ot c|anges |n actuar|a|
assumpt|ons ano are recogn|seo |mmeo|ate|y |n t|e
ront ano Loss Account as |ncome or expense.
{l} BOOwlNe COS1
lor Arvind Limited
3orrow|ng costs |nc|uoe |nterest, tees ano ot|er c|arges
|ncurreo |n connect|on w|t| t|e borrow|ng ot tunos. lt |s
ca|cu|ateo on t|e bas|s ot enect|ve |nterest rate |n accoroance
w|t| Account|ng Stanoaro (AS) -o ano cons|oereo as
revenue expeno|ture ano c|argeo to pront ano |oss account
tor t|e year |n w||c| |t |s |ncurreo except tor borrow|ng costs
attr|buteo to t|e acqu|s|t|on/|mprovement ot qua||ty|ng
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
;z
assets up to t|e oate w|en suc| assets are reaoy tor |ntenoeo
use are cap|ta||seo as a part ot t|e cost ot suc| asset.
lor Subsidiaries and 1oint ventures
3orrow|ng costs |nc|uoes |nterest, tees ano ot|er c|arges
|ncurreo |n connect|on w|t| t|e borrow|ng ot tunos ano |s
cons|oereo as revenue expeno|ture tor t|e year |n w||c|
|t |s |ncurreo except tor borrow|ng costs attr|buteo to t|e
acqu|s|t|ons/|mprovement ot qua||ty|ng cap|ta| asset ano
|ncurreo t||| t|e commencement ot commerc|a| use ot t|e
asset ano w||c| |s cap|ta||zeo as cost ot t|at asset.
{1} LLASL ACCOuN1lNe
(!.:) Assets acqu|reo unoer l|nance Lease are segregateo
trom t|e assets owneo ano recogn|zeo as asset at an
amount equa| to t|e ta|r va|ue ot t|e |easeo assets at
t|e |ncept|on ot t|e |ease or t|e present va|ue ot t|e
m|n|mum |ease payments w||c|ever |s |ower w|t|
correspono|ng outstano|ng ||ab|||ty.
(!..) Lease renta| payab|e on suc| nnance |ease |as
been apport|oneo between nnance c|arge ano t|e
reouct|on |n t|e outstano|ng ||ab|||ty. |e nnance
c|arge |as been a||ocateo to per|oos our|ng t|e
|ease term so as to proouce constant per|oo|c rate ot
|nterest on t|e rema|n|ng ba|ance ot ||ab|||ty tor eac|
per|oo.
(!.) Lease lenta|s tor assets acqu|reo unoer operat|ng
|ease are recogn|seo as an expense |n ront 8 Loss
Account on a stra|g|t-||ne bas|s over t|e |ease term.
{k} 1AXLS ON lNCOML
(k.:) ax expense cons|sts ot bot| current as we|| as
oeterreo tax ||ab|||ty. Current tax represents amount ot
|ncome tax payab|e |nc|uo|ng t|e tax payab|e u/s ::!3,
|t any, |n respect ot taxab|e |ncome tor t|e year.
(k..) ||n|mum A|ternate ax Creo|t |s recogn|seo as an
asset on|y w|en ano to t|e extent t|ere |s conv|nc|ng
ev|oence t|at t|e Company w||| pay norma| |ncome tax
w|t||n t|e spec|neo per|oo.
(k.) Leterreo tax |s recogn|seo on t|m|ng o|nerence
between t|e account|ng |ncome ano t|e taxab|e
|ncome tor t|e year t|at or|g|nates |n one per|oo ano
are capab|e ot reversa| |n one or more subsequent
per|oos. Suc| oeterreo tax |s quant|neo us|ng t|e tax
rates ano |aws enacteo or substant|ve|y enacteo as on
t|e 3a|ance S|eet oate.
(k.,) Leterreo tax assets are recogn|seo ano carr|eo
torwaro to t|e extent t|at t|ere |s a reasonab|e
certa|nty t|at sumc|ent tuture taxab|e |ncome w||| be
ava||ab|e aga|nst w||c| suc| oeterreo tax assets can be
rea||zeo.
{L} LANlNe L SHAL
|e Company reports bas|c ano o||uteo Larn|ngs per S|are
(LS) |n accoroance w|t| Account|ng Stanoaro .o on
Larn|ngs per S|are. 3as|c LS |s computeo by o|v|o|ng t|e net
pront or |oss tor t|e year by t|e we|g|teo average number
ot Lqu|ty s|ares outstano|ng our|ng t|e year. L||uteo LS |s
computeo by o|v|o|ng t|e net pront or |oss tor t|e year by
t|e we|g|teo average number ot equ|ty s|ares outstano|ng
our|ng t|e year as aojusteo tor t|e enects ot a|| o||ut|ve
potent|a| equ|ty s|ares, except w|ere t|e resu|ts are ant|-
o||ut|ve.
{M} OvlSlONS, CON1lNeLN1 LlABlLl1lLS ANo
CON1lNeLN1
ASSL1S
rov|s|ons |nvo|v|ng a substant|a| oegree ot est|mat|on
|n measurement are recogn|zeo w|en t|ere |s a present
ob||gat|on as a resu|t ot past events ano |t |s probab|e t|at
t|ere w||| be an outnow ot resources. Cont|ngent ||ab|||t|es
are not recogn|zeo but are o|sc|oseo |n t|e accounts by way
ot a note. Cont|ngent assets are ne|t|er recogn|zeo nor
o|sc|oseo |n t|e nnanc|a| statements.
{N} CAl1AL lSSuL LXLNSLS
Lxpenses on |ssue ot S|ares, Lebentures ano CLls are be|ng
aojusteo aga|nst S|are rem|um Account as perm|tteo by
sect|on ,8 ot t|e Compan|es Act.
{O} ACCOuN1lNe lO 1OlN1 vLN1uL
Account|ng tor !o|nt venture |as been oone as to||ows.
1ype of 1oint venture Accounting 1reatment
!o|nt|y Contro||eo Lnt|ty Company's s|are ot pront or |oss
|s accounteo on oeterm|nat|on
ot pront or |oss by t|e !o|nt
ventures.
!o|nt venture |nterests accounteo as above |ave been
|nc|uoeo |n segments to w||c| |t re|ates.
6. CON1lNeLN1 LlABlLl1lLS
(a) 3|||s o|scounteo C ::,..o Crores (C .,, Crores).
(b) Cuarantees g|ven by t|e 3an|s on be|a|t ot t|e Company
C 6:., Crores (C ,.6 Crores).
(c) Cuarantees/Counter Cuarantees g|ven by t|e Company
to 3an|s ano Ot|er Compan|es C ..8, Crores (C :.8,
Crores).
(o) lncome ax oemanos, Lxc|se/ Custom Luty oemanos, Sa|es ax
oemanos, Serv|ce ax Lemanos ano ext||e Comm|ttee Cess
C ,.o. Crores (C6.. Crores), C o.,6 Crores (C .8..6 Crores),
C :,. Crores (C :6.o8 Crores), C :.,, Crores (C :.o6 Crores) ano
C o.:: Crore (C o.:: Crore) respect|ve|y.
(e) Ot|er oemanos |n o|spute C o.,, Crores (C o.6: Crores).
y. Lqul1Y SHALS ANo wAAN1S
(:) ln t|e Lxtra Oro|nary Cenera| |eet|ng ot t|e Company
|e|o on |ay :., .oo,, t|e s|are|o|oers |ave approveo t|e
preterent|a| a||otment ot ,.,oo,ooo warrants to romoters
/romoter Croup at an |ssue pr|ce ot C :/- w||c| are
convert|b|e |nto ,.,oo,ooo equ|ty s|ares ot C :o/- eac| at a
prem|um ot C /- at any t|me atter t|e oate ot a||otment but on
or betore t|e exp|ry ot :8 mont|s trom t|e oate ot a||otment
|n one or more tranc|es ano,
;
(.) |e romoters/romoter Croup |ave exerc|seo t|e r|g|t
tor convers|on ot .,oo,o,ooo warrants (:,o,oo,ooo
warrants) |nto Lqu|ty S|ares w|t||n t|e st|pu|ateo per|oo ot
:8 mont|s trom t|e oate ot a||otment. Accoro|ng|y, t|e sa|o
warrants stano converteo |n to .,oo,o,ooo Lqu|ty S|ares
(:,o,oo,ooo Lqu|ty S|ares) ot C :o/- eac| at a prem|um ot
C /- per s|are.
() |e romoters/romoter Croup |ave not exerc|seo t|e r|g|t
tor convers|on ot :,o,ooo warrants (,,:o,oo,ooo warrants)
|nto Lqu|ty S|ares w|t||n t|e st|pu|ateo per|oo ot :8 mont|s
trom t|e oate ot a||otment. Accoro|ng|y, t|e sa|o warrants
stano torte|teo ano pa|o up amount ot C o.o6 Crores (C .:..
Crores) on suc| warrants |as been transterreo to Cap|ta|
leserve.
(,) Lur|ng t|e year, t|e Company |as |ssueo .,,.,oo equ|ty
s|ares ot C :o/- eac| at a prem|um ot C ,.6 per s|are on
exerc|se ot stoc| opt|on granteo to |ts emp|oyees ano
o|rectors unoer t|e LSOS .oo8 p|an.
8. |e est|mateo amount ot contracts rema|n|ng to be executeo on
cap|ta| account ano not prov|oeo tor C:,8.,8 Crores (C .., Crores).
p. Ot|er L|ab|||t|es |nc|uoe C :.,8 Crores (C ., Crores) on account ot
boo| overoratt.
vo. Current Assets |nc|uoes C o.o: Crore (rev|ous /ear C o.o: Crore)
oue trom subs|o|ary compan|es.
vv. LvALuA1lON Ol llXLo ASSL1S
|e Company |as reva|ueo t|e ent|re b|oc| ot lree|o|o ano
Lease|o|o Lano w|t| enect trom :st |arc| .o:: baseo on a
va|uat|on maoe by an approveo va|uer. |e resu|tant |ncrease |n t|e
gross b|oc| amount|ng to C .o.,8 Crores |as been aojusteo |n t|e
carry|ng va|ue ot Lano b|oc| ano creo|teo to leva|uat|on leserve.
vz. lMAlMLN1 Ol llXLo ASSL1S
ln accoroance w|t| t|e Account|ng Stanoaro (AS-.8) on 'lmpa|rment
ot Assets' not|neo by Compan|es (Account|ng Stanoaros) lu|es,
.oo6, our|ng t|e year t|e Company |as reassesseo |ts nxeo assets
ano |s ot t|e v|ew t|at no turt|er |mpa|rment/reversa| |s cons|oereo
to be necessary |n v|ew ot |ts expecteo rea||zab|e va|ue.
v. LouC1lON Ol CAl1AL:
A Sc|eme ot leouct|on ot Cap|ta| (|ere|n atter reterreo to as
t|e Sc|eme) unoer Sect|ons ,8, :oo to :o reao w|t| ot|er
re|evant sect|ons ot t|e Compan|es Act, :,6 was approveo by
t|e s|are|o|oers ot t|e Company on .t| September, .oo, ano
sanct|oneo by t|e l|g| Court ot Cujarat at A|meoabao on :t|
Lecember .oo,.
ursuant to t|e Sc|eme, t|e ba|ance |n S|are rem|um account |as
been ut|||zeo to t|e extent ot C .o.. Crores (C ,.,8 Crores) (out ot
perm|tteo ut|||zat|on ot C 6o Crores). |e oeta||s are as unoer.
Sr. articulars Amount
C in Crores
Lhect on rot for the
year had the scheme
not prescribed this
accounting treatment
| leouct|on |n carry|ng
va|ueot Stoc|
.o.. o t|e same extent
1otal zo.zy
vq. LALY AoO1lON Ol AS o, llNANClAL lNS1uMLN1S:
LCOeNl1lON ANo MLASuLMLN1
Consequent to t|e Announcement ot t|e lnst|tute ot
C|artereo Accountants ot lno|a (lCAl), t|e Company |ao
c|osen to ear|y aoopt 'Account|ng Stanoaro o, l|nanc|a|
lnstruments. lecogn|t|on ano |easurement' |n |ts ent|rety,
reao w|t| ||m|teo rev|s|ons |n var|ous ot|er Account|ng
Stanoaros, as pub||s|eo by lCAl w|t| enect trom : !u|y, .oo8.
Accoro|ng|y, t|e Company |as c|angeo t|e oes|gnat|on
ano measurement ot a|| |ts s|gn|ncant nnanc|a| assets ano
||ab|||t|es. A|| t|e nnanc|a| assets ano nnanc|a| ||ab|||t|es ano
oer|vat|ves |ave been remeasureo at t|e|r respect|ve ta|r
va|ues or at amort|zeo cost as aga|nst cost or mar|et va|ue
w||c|ever |s |ower. ln t|e sp|r|t ot comp|ete aoopt|on ot AS
- o, t|e Company |ao a|so |mp|ementeo t|e consequent|a|
||m|teo rev|s|ons to 'Account|ng Stanoaro ::' on '|e Lnects
ot C|anges |n lore|gn Lxc|ange lates' ano 'Account|ng
Stanoaro :' on 'Account|ng tor lnvestments' as |ao been
announceo by t|e lCAl.
As a resu|t, as on 3a|ance S|eet oate, lnvestments, Secureo
Loans ano 0nsecureo Loans are |ower by C .., Crores,
C ..,: Crores ano C .o Crores respect|ve|y ano leoge
leserve account |s ||g|er by C:.8, Crores on account ot ta|r
va|uat|on ot outstano|ng oer|vat|ves.
vy. lOLleN LXCHANeL olllLLNCLS
As per t|e not|ncat|on |ssueo by t|e ||n|stry ot Corporate
Ana|rs oateo :st |arc|, .oo, as amenoeo trom t|me to
t|me, t|e Company |ao a|reaoy exerc|seo t|e opt|on tor
account|ng ot exc|ange rate o|nerences w|t| enect trom
Apr|| :, .oo,. Consequent to t|e aoopt|on ot t|at opt|on.
(a) Lxc|ange rate o|nerences ot |ong-term tore|gn
currency |oans w||c| are re|ateo to acqu|s|t|on
ot oeprec|ab|e nxeo assets |ave been aooeo to or
oeoucteo trom t|e cost ot t|e assets ano oeprec|ateo
over t|e ba|ance ||te ot t|e assets ano,
(b) Lxc|ange rate o|nerences on ot|er |ong-term tore|gn
currency |oans |ave been transterreo to 'lore|gn
Currency |onetary ltem rans|at|on L|nerence
Account' to be amort|zeo over t|e ba|ance per|oo ot
|oans or up to :st |arc|, .o:. w||c|ever |s ear||er.
As a resu|t.
a) An amount ot CH|| be|ng t|e exc|ange rate ga|n tor
t|e year (rev|ous year ga|n ot C 6.: Crores) |as been
aojusteo aga|nst t|e nxeo assets.
b) An amount ot C o., Crore be|ng t|e exc|ange rate
ga|n tor t|e year (rev|ous year ga|n ot C :.o6 Crores)
rema|ns to be amort|zeo as at t|e ba|ance s|eet oate.
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
;
v6. olSCLOSuL lN LSLC1 Ol CONS1uC1lON[1OBwOk
CON1AC1S
(C |n Crores)
Sr. articulars zovo-vv .oo,-:o
:. Amount ot Contract levenue
recogn|seo
zv.6p ..8
.. L|sc|osure |n respect ot
contracts |n progress at t|e
report|ng oate
A Contract cost |ncurreo
ano recogn|seo pronts |ess
recogn|seo |osses up to t|e
report|ng oate
zv.qy ,.
3 Lue trom customers .vp :.
C Lue to customers y.yv ..,.
vy. (A) lactory 3u||o|ng, Omce rem|ses, |ant ano |ac||ner|es,
S|ow looms ano ot|er tac|||t|es are ta|en on |ease tor t|e
per|oo ot mont|s to .o years w|t|/w|t|out t|e opt|on ot
renewa|, no sub |ease ano |av|ng an esca|at|on c|ause tor
|ncrease |n |ease renta|.
|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
articulars zovo-vv .oo,-:o
luture ||n|mum |ease payments
ob||gat|on on non-cance||ab|e
operat|ng |eases .
z8.yq .o6..o
Hot |ater t|an one year y6.vq ,..
Later t|an one year ano not |ater
t|an nve years
vyq. ,,.,o
Later t|an nve years y.zy 6,..,
Lease ayment recogn|seo |n ront
8 Loss Account
8o.qz ,:.:.
(3) lent lncome |nc|uoes Lease lenta| rece|veo towaros
3u||o|ng, |ant 8 |ac||ner|es g|ven on operat|ng |eases w||c|
are genera||y tor a per|oo ot :. to 6o mont|s w|t| t|e opt|on
ot renewa| on mutua| consent ano premature term|nat|on ot
agreement t|roug| agreeo not|ce per|oo.
|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
articulars zovo-vv .oo,-:o
luture ||n|mum |ease payments
unoer non-cance||ab|e operat|ng
|eases .
o.6v o.6:
Hot |ater t|an one year o.6v o.6:
Later t|an one year ano not |ater
t|an nve years
o.oo o.oo
Later t|an nve years o.oo o.oo
Lease lncome recogn|seo |n ront
8 Loss Account
o.yv o.6:
(C) Lata rocess|ng Lqu|pments, ve||c|es, lurn|ture 8 l|xtures
ano Lqu|pments |ave been acqu|reo unoer l|nance Lease tor
a per|oo ot to 6o mont|s w|t| t|e opt|on ot renewa|.
|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
articulars Minimum
lease
payments
resent
value of
Minimum
lease
ayments
lnterest
and Other
Charges
not due
luture ||n|mum |ease
payments ob||gat|on.
o.,8
(:.:o)
o.,6
(:.oo)
o.o.
(o.:o)
Hot |ater t|an one year o.,8
(o.6,)
o.,6
(o.6o)
o.o.
(o.o,)
Later t|an one year ano not
|ater t|an l|ve years
H||
(o.,6)
H||
(o.,o)
H||
(o.o6)
Later t|an nve years
H||
(H||)
H||
(H||)
H||
(H||)
v8. MlCO 8 SMALL LN1LlSLS ouLS
|e Company |as not rece|veo any |nt|mat|on trom supp||ers
regaro|ng t|e|r status unoer t|e ||cro, Sma|| ano |eo|um
Lnterpr|ses Leve|opment Act, .oo6 ano |ence o|sc|osures
regaro|ng to||ow|ng |ave not been g|ven.
(a) Amount oue ano outstano|ng to supp||ers as at t|e eno ot
account|ng year,
(b) lnterest pa|o our|ng t|e year,
(c) lnterest payab|e at t|e eno ot t|e account|ng year, ano
(o) lnterest accrueo ano unpa|o at t|e eno ot t|e account|ng
year.
|e Company |s ma||ng enorts to get t|e connrmat|ons trom t|e
supp||ers as regaros t|e|r status unoer t|e Act.
vp. Auol1OS' LMuNLA1lON:
(C |n Crores)
zovo-vv .oo,-:o
Statutory Auo|tors
As Auo|tors v.oz o.,,
ln ot|er capac|t|es o.8 o.8,
rave|||ng ano Out ot oc|et
Lxpenses
o.oy o.o
Cost Auo|tor
Cost Auo|t lees o.o o.o
zo. NO1LS 1O CASH lLOw S1A1LMLN1:
:. |e Cas| l|ow Statement |as been prepareo unoer t|e
lno|rect |et|oo as set out |n Account|ng Stanoaro on
Cas| l|ow Statements.
.. l|gures |n brac|et represent outnow ot cas|.
. Cas| ano Cas| Lqu|va|ents |nc|uoe C ...: Crores (C :...
Crores) not ava||ab|e tor use by t|e Company.
;
zv. SLeMLN1 LO1lNe:
{A} lMAY SLeMLN1 {BuSlNLSS SLeMLN1}
(C |n Crores)
articulars zovo-vv .oo,-:o
Segment evenue
a) ext||es zpy8.6v .,....
b) 3ranoeo Carments ppy.qy ,:..6,
c) Ot|ers v8p.pv :..,6
o) 0na||ocab|e o.oz o.o:
1otal Segment evenue qv6.pp .,,.66
Less . lnter Segment levenue yq.v :6.,
Net Segment evenue qo8p.68 .6:..
Segment esults
Segment lesu|ts betore lnterest 8
l|nance Cost
a) ext||es y8.q ..o..6
b) 3ranoeo Carments yq.o .:.oo
c) Ot|ers v.y8 .,.o:
o) 0na||ocab|e {y.vp} (6.,8)
1otal Segment esults qzo.p6 .8.,,
Less . lnterest 8 l|nance Cost zqy.vo .::.6,
ront trom Oro|nary Act|v|t|es vyy.86 ,,.:o
Lxtra Oro|nary ltems (Het) o.oo o.oo
rot before 1ax vyy.86 ,,.:o
Other lnformation
Segment Assets
a) ext||es oyo.68 .8:,.,,
b) 3ranoeo Carments 8.6 ,..,.
c) Ot|ers zo.yo :,.,:
o) 0na||ocab|e poo.vz 6,,.:,
1otal Assets yoo8.v ,.o,.,,
Segment Liabilities
a) ext||es 6zp.pz ,o:.o6
b) 3ranoeo Carments zz.8 ....:
c) Ot|ers yo.pz :..
o) 0na||ocab|e 6v.yp ,.8o
1otal Liabilities vo8y.q6 ,o,..,
Segment oepreciation[lmpairment
a) ext||es vqo.yp :,.:
b) 3ranoeo Carments z.qz .:.,8
c) Ot|ers z.86 :.,o
o) 0na||ocab|e y.qz ,.o,
1otal oepreciation vyz.qp :,..,o
Capital Lxpenditure
a) ext||es vyo.8p ..6
b) 3ranoeo Carments q6.yz ..:6
c) Ot|ers p.z8 ::.6,
o) 0na||ocab|e q.8y :..,
1otal Capital Lxpenditure zyo.y6 8.
(C |n Crores)
articulars zovo-vv .oo,-:o
Non cash expenses other than
oepreciation
a) ext||es v.pv o.o6
b) 3ranoeo Carments y.yy o.,
c) Ot|ers o.qy o.o.
o) 0na||ocab|e o.oq o.o.
1otal Non cash expenses other than
oepreciation
y.py o.
{B} SLCONoAY SLeMLN1 {eLOeAHlCAL BY
CuS1OMLS}
(C |n Crores)
articulars zovo-vv .oo,-:o
Segment evenue
a) ln lno|a z8v6.vy .:,.o
b) Outs|oe lno|a vzy.yv ::..,
1otal Sales qo8p.68 .6:..
Carrying Cost of Assets by
location of Assets
a) ln lno|a q8pq.y6 ,::,..
b) Outs|oe lno|a vv.yy ,..o,
1otal yoo8.v ,.o,.,,
Addition to Assets
a) ln lno|a zyo.yy 8.
b) Outs|oe lno|a o.ov o.oo
1otal zyo.y6 8.
Notes:
:. |e Company |as o|sc|oseo bus|ness segments as t|e
pr|mary segment. Segments |ave been |oent|neo ta||ng |nto
account t|e nature ot t|e prooucts, o|nerent|a| r|s|s ano
returns, t|e organ|zat|ona| structure ano |nterna| report|ng
system. |e company's operat|ons preoom|nant|y re|ate to
manutactur|ng ot text||es ano branoeo garments.
.. ypes ot rooucts ano Serv|ces |n eac| bus|ness segment .
ext||es . /arn, labr|c ano Carments
3ranoeo Carments . 3ranoeo Carments
Ot|ers . LA3X ano lAX Systems (L|ectron|c
L|v|s|on), l.. Serv|ces ano
Construct|on bus|ness
. lnter segment levenues are recogn|seo at sa|es pr|ce.
zz. LLA1Lo A1Y olSCLOSuLS:
As per t|e Account|ng Stanoaro on le|ateo arty L|sc|osures (AS
:8) not|neo by Compan|es (Account|ng Stanoaros) lu|es, .oo6, t|e
re|ateo part|es ot t|e Company are as to||ows.
A v l N O L l V l ! L O ANNUAL LO! zoo - zo
;
L|st ot le|ateo art|es 8 le|at|ons||p.
Subsidiary Companies * key Management ersonnel Company under the control of key
Managerial ersonnel
{A} {B} {C}
Arv|no Overseas (|) L|m|teo, |aur|t|us S|r| Sanjay S. La|b|a|
C|a|rman ano |anag|ng L|rector
Aura Secur|t|es r|vate L|m|teo
Arv|no Sp|nn|ng L|m|teo, |aur|t|us S|r| !ayes| k. S|a|
L|rector 8 C||et l|nanc|a| Omcer
Arv|no ext||e ||||s L|m|teo, 3ang|aoes| S|r| un|t S. La|b|a|
Son ot C|a|rman ano |anag|ng L|rector
S|r| ku||n S. La|b|a|
Son ot C|a|rman ano |anag|ng L|rector
* Lxc|uoeo tor conso||oat|on.
Note: le|ateo party re|at|ons||p |s as |oent|neo by t|e Company ano re||eo upon by t|e Auo|tors.
Nature of 1ransactions (C |n Crores)
eferred in
{A}
Above
eferred in
{B}
Above
eferred in
{C}
Above
zovo-vv .oo,-:o zovo-vv .oo,-:o zovo-vv .oo,-:o
Lxpenses
lemunerat|on 8 Ot|er Serv|ces q.8o .,
lnterest Lxpense .pz o.oo
lncome
Sale of eoods o.y6 o.oo
Service lncome o.v o.oo
Outstanding :
lece|vab|e |n respect ot .
(a) Current Assets o.ov o.o: o.z o.oo
(b) Loans y.pv ,.,:
ayab|e |n respect ot .
(a) Loans p.qv o.oo
(C |n Crores)
Name of Subsidiary Loans 8 Advances in the
nature of Loans
C|os|ng
3a|ance
|ax|mum
Outstano|ng
Arv|no Overseas (|aur|t|us) L|m|teo ,.,: ,.,:
Arv|no ext||e ||||s L|m|teo o.o: o.o:
1O1AL y.pz y.pz
Note: Ho repayment sc|eou|e |as been nxeo |n case ot above ment|oneo
Loans 8 Aovances |n t|e nature ot |oans g|ven to Subs|o|ary Compan|es
ano t|ey are |nterest tree.
z. olSCLOSuL lN LSLC1 Ol OvlSlONS:
{A} OvlSlON lO olSu1Lo MA11LS
|e Company |ao maoe prov|s|ons tor peno|ng o|sputeo
matters |n respect ot lno|rect axes |||e Sa|es ax, Lxc|se
Luty ano Custom Luty |n respect ot 3ranoeo Carment
L|v|s|ons acqu|reo on Ama|gamat|on/|erger, t|e ||ab|||ty tor
w||c| may ar|se |n t|e tuture, t|e quantum w|ereot w||| be
oeterm|neo as ano w|en t|e matters are o|sposeo on.
lndirect 1axes (C |n Crores)
articulars zovo-vv .oo,-:o
Open|ng 3a|ance z.8v ..8:
Aoo . rov|s|on maoe o.oo o.oo
Less . rov|s|on reverseo o.oo o.oo
C|os|ng 3a|ance z.8v ..8:
{B} OvlSlON lO CuS1OML LOYAL1Y OeAM
LwAo OlN1S
|e Company |as maoe prov|s|on tor reoempt|on ot
customer |oya|ty program rewaro po|nts. |e summary ot
rewaro po|nts ano va|ue tor t|ose po|nts are g|ven be|ow.
(C |n Crores)
articulars v.o.zovv :.o..o:o
Open|ng 3a|ance o.o o.oo
Het rov|s|on/(leversa|) maoe
our|ng t|e year
{o.vo} o.o
C|os|ng 3a|ance o.zo o.o
zq. LANlNe L SHAL {LS}:
articulars zovo-vv .oo,-:o
ront ava||ab|e to Lqu|ty
S|are|o|oer
C |nCrores v6q.8y ,,.o6
ve|g|teo average no. ot Lqu|ty
S|arestor3as|cLS
Hos. zpzooy68 ..:,:.,o
ve|g|teo average no. ot Lqu|ty
S|arestorL||uteoLS
Hos. zpyvyy .,668,.
Hom|na| va|ueot Lqu|tyS|ares C vo :o
3as|cLarn|ngperLqu|tyS|are C 6.8p ..:8
L||uteoLarn|ngperLqu|tyS|are C 6.8p :.,,
;;
(C|n Crores)
{A} econciliation of the prot for
the year, used for calculating
Larning per Share
zovo-vv .oo,-:o
ront tor t|e year v6q.8y ,,.,
Less. L|v|oenoonreoeemab|ecumu|at|ve
nonConvert|b|ereterenceS|ares
o.oo o.,6
Less . ax on reterence L|v|oeno o.oo o.:
ront ava||ab|e to Lqu|ty S|are|o|oer v6q.8y ,,.o6
{B} weighted average number
of Lquity Shares
zovo-vv .oo,-:o
Ho. ot S|ares tor 3as|c LS zpzooy68 ..:,:.,o
Ho. ot S|ares tor L||uteo LS atter
cons|oer|ng otent|a| equ|ty s|ares to be
converteotromwarrantsanoo||uteenect
ot outstano|ngstoc|opt|ons
zpyvyy .,668,.
zy. LMLOYLL SHAL BASLo AYMLN1
a) Lur|ng t|e year .oo8-.oo,, t|e Company |as tormu|ateo
Lmp|oyee Stoc| Opt|on Sc|eme (LSOS .oo8), t|e teatures
ot w||c| are as to||ows .
Scheme LSOS zoo8
Late ot Crant October ., .oo8
Humber ot opt|ons granteo .,,o,ooo
Lxerc|se r|ce per opt|on C :,.6
Late ot vest|ng |e vest|ng w||| be as unoer .
./ on Apr|| o, .o:o
./ on Apr|| o, .o::
./ on Apr|| o, .o:.
./ on Apr|| o, .o:
Lxerc|se er|oo v|t||n years trom t|e oate ot
respect|ve vest|ng.
|et|oo ot sett|ement |roug| a||otment ot one Lqu|ty
S|are tor eac| opt|on granteo.
b) lntr|ns|c va|ue |et|oo |as been useo to account tor t|e
emp|oyee s|are baseo payment p|ans. |e |ntr|ns|c va|ue ot
eac| stoc| opt|on granteo unoer t|e LSOS .oo8 p|an |s C H||
s|nce t|e mar|et pr|ce ot t|e unoer|y|ng s|are at t|e grant
oate was same as t|e exerc|se pr|ce ano consequent|y t|e
account|ng va|ue ot t|e opt|on (compensat|on cost) |s C H||.
c) lurt|er oeta||s ot t|e stoc| opt|on p|ans LSOS .oo8 |s as to||ows .
articulars zovo-vv .oo,-:o
Opt|ons Outstano|ng at start ot year z6oyooo .,,o,ooo
Opt|ons Cranteo our|ng t|e /ear Nil H||
Opt|ons Lapseo our|ng t|e /ear Nil :,,,ooo
Opt|ons Lxerc|seo our|ng t|e /ear zyzyoo H||
Opt|ons vesteo but not Lxerc|seo at
eno ot /ear
Nil H||
Opt|ons not vesteo at eno ot /ear zzyoo .6,o,ooo
ve|g|teo Average Lxerc|se r|ce
per Opt|on
C vq.6y C :,.6
o) |e 3|ac|-Sc|o|es-|ertons Opt|on r|c|ng |ooe| |ave been
useo to oer|ve t|e est|mateo va|ue ot stoc| opt|on granteo
|t t|e ta|r va|ue met|oo to account tor t|e emp|oyee s|are
baseo payment p|ans were to be useo. |e est|mateo va|ue
ot eac| stoc| opt|ons ano t|e parameters useo tor oer|v|ng
t|e est|mateo va|ue ot Stoc| Opt|on granteo unoer 3|ac|-
Sc|o|es-|ertons Opt|on r|c|ng |ooe| |s as to||ows,
articulars LSOS zoo8 - vesting on April o,
zovo zovv zovz zov
Lst|mateo va|ue ot Stoc|
Opt|ons(C)
6.6, y.z6 8.o 8.66
S|arer|ceat Crant Late(C) :,.6 vq.6y :,.6 :,.6
Lxerc|ser|ce(C) :,.6 vq.6y :,.6 :,.6
Lxpecteovo|at|||ty(/) 8.,,/ yq.y% ,.,6/ .,:/
L|v|oeno/|e|olate(/) o..8/ o.z8% o..8/ o..8/
LxpecteoL|teotOpt|ons(|nyears) .o: q.ov .o. 6.o.
l|s|lreelateot lnterest (/) ,.,/ y.6v% ,.6/ ,.,o/
e) lao t|e compensat|on cost tor t|e stoc| opt|ons granteo
unoer LSOS .oo8 been oeterm|neo on ta|r va|ue approac|,
t|e Company's net |oss ano earn|ng per s|are wou|o |ave
been as per pro torma amounts |no|cateo be|ow.
(C |n Crores)
articulars zovo-vv .oo,-:o
Het ront atter ax as reporteo v6q.8y ,,.o6
Less . Amort|sat|on ot Compensat|on
Cost (pro torma) {o.yy} (o.,6)
Het ront cons|oereo tor comput|ng
LS (pro torma) v6q.vz ,8.o
Larn|ng er S|are - (3as|c)
- as reporteo 6.8p ..:8
- pro torma 6.86v ..:
Larn|ng er S|are - (L||uteo)
- as reporteo 6.8p :.,,
- pro torma 6.8yy :.,6
z6. oLlLLo 1AX
ln accoroance w|t| t|e manoatory Account|ng Stanoaro ..
Account|ng tor axes on lncome not|neo by Compan|es (Account|ng
Stanoaros) lu|es, .oo6, t|e Company |s account|ng tor oeterreo tax.
ln comp||ance w|t| prov|s|ons ot Account|ng Stanoaro, our|ng t|e
year unoer rev|ew, net oeterreo tax ||ab|||ty ot C 8.,. Crores |as been
prov|oeo. (rev|ous /ear C :..:, Crores reverseo).
lowever, baseo on Cenera| ruoence, t|e Company |as not
recogn|seo t|e oeterreo tax assets on account ot accumu|ateo
bus|ness |osses ano unabsorbeo oeprec|at|on nor wr|tten bac|
excess oeterreo tax ||ab|||ty.
zy. CAl1AL LSLvL ON CONSOLloA1lON
Cap|ta| leserve on conso||oat|on represents t|e |osses |n t|e va|ue
ot t|e |nvestments |n subs|o|ary compan|es prov|oeo by t|e Arv|no
L|m|teo (lo|o|ng company) |n accoroance w|t| t|e sc|eme ot
arrangement sanct|oneo by t|e l|g| Court ot Cujarat.
z8. Sunory Lebtors, Sunory Creo|tors ano Loans ano Aovances |nc|uoe
certa|n accounts w||c| are subject to connrmat|on/reconc|||at|on,
t|e enect ot w||c| |s not ascerta|nab|e.
zp. l|gures |ess t|an o,ooo/- w||c| are requ|reo to be s|own
separate|y, |ave been s|own as actua| |n brac|ets.
o. rev|ous year's ngures are s|own |n brac|ets ano are regroupeo or
recast w|erever necessary to ma|e t|em comparab|e w|t| t|ose ot
t|e current year.
S|gnatures to Sc|eou|es : to :,
SAN1AY S. LALBHAl
As per our report attac|eo C|a|rman 8 |anag|ng L|rector
lor Sorab S. Lngineer 8 Co. 1AYLSH k. SHAH
l|rm leg|strat|on Ho. ::o,:,v L|rector 8 C||et l|nanc|a| Omcer
C|artereo Accountants
CA.N. o. Anklesaria . v. BHlMANl
artner Company Secretary
A|meoabao, .ot| |ay, .o::
;8
!HL AvlNO OvLSLAS (VAUl!lUS) LlVl!LO ANNUAL LO! zoo - zo
Olrectors` eort
Oear Shareholder
!he 8oard of Olrectors ls leased to resent the nanclal statements of 1he Arvind Overseas {Mauritius} Limited for the year ended
Varch , zo, the contents of whlch are llsted below:
All shareholders agree that the Annual eort need not comly wlth Sectlon z8 of the Comanles Act zoo.
!hls reort was aroved by the 8oard of Olrectors on !une o,zo.
SAN1AY S. LALBHAl SAMvLe A. LALBHAl
OlLC!O OlLC!O
eort of the Audltors to the Vembers
We have audlted the nanclal statements of 1he Arvind Overseas {Mauritius} Limited set out on ages ;p to 8.
!hls reort ls made solely to the comany`s members, as a body. !o the fullest extent ermltted by law, we do not accet or assume resonslblllty to
anyone other than the comany and the comany`s members as a body, for our audlt, for thls reort or for the olnlon we have formed.
!he dlrectors are resonslble for keelng roer accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the nanclal osltlon of
the comany. !hey are also resonslble for safeguardlng the assets of the comany and hence for taklng reasonable stes for the reventlon and
detectlon of fraud and other lrregularltles. lt ls our resonslblllty to form an lndeendent olnlon, based on our audlt, on the nanclal statements
and to reort our olnlon to you. We belleve that our audlt rovldes a reasonable basls for our olnlon.
ln our olnlon, the nanclal statements, whlch has been reared under the break up basis, glves a true and falr vlew of the state of ahalrs of the
comany as at Varch , zo and of lts loss for the year then ended.
BoO 8 Co
Chartered Accountants
ort Louls,
Vaurltlus
Oate: !une o, zo
;p
8alance Sheet - Varch , zo
Notes zovv zoo
ASSL1S Mau. C Cin Lacs* Vau. C Cln Lacs**
Current assets
Cash and cash equlvalents v,yop,py z6.yv ,;zp,o8 z.8o
1otal assets v,yop,py z6.yv ,;zp,o8 z.8o
Lqul1Y ANo LlABlLl1lLS
Capital and decit
Share caltal z8,yvy,voo 6p8.qy z8,;,oo ;.p
evenue declt {z6,8oy,vqy} {6yv.pq} (z,;8;,;pz) (z.)
Lquityholders' interest v,yop,py z6.yv ,;zp,o8 z.8o
!hese nanclal statements have been aroved for lssue by the 8oard of Olrectors on: !une o,zo.
SAN1AY S. LALBHAl SAMvLe A. LALBHAl
OlLC!O OlLC!O
!he notes on age 8 form an lntegral art of these nanclal statements.
Audltors` reort on age ;8.
* !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
lncome Statement - ear ended Varch , zo
Notes zovv zoo
Mau. C Cin Lacs* Vau. C Cln Lacs**
Admlnlstratlve exenses {v,p8v} {o.o} (,8) (o.o)
llnance Costs {vy,yq} {o.zy} p,;o z.p
rot /(Loss) for the year {vp,yy} {o.o} pz,88 z.88
!hese nanclal statements have been aroved for lssue by the 8oard of Olrectors on: !une o,zo.
SAN1AY S. LALBHAl SAMvLe A. LALBHAl
OlLC!O OlLC!O
!he notes on age 8 form an lntegral art of these nanclal statements.
Audltors` reort on age ;8.
* !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
8o
!HL AvlNO OvLSLAS (VAUl!lUS) LlVl!LO ANNUAL LO! zoo - zo
Statement of Changes ln Lqulty - ear ended Varch , zo
Share Capital evenue oecit 1otal
Mau. C Cin Lacs* Mau. C Cin Lacs* Mau. C Cin Lacs*
8alance at Arll , zoo z8,;,oo p8. (z,;8;,;pz) (;.) ,;zp,o8 z.8z
rot for the year - - (p,) (o.o) (p,) (o.o)
Balance at March v, zovv z8,yvy,voo ,6p8.qy {z6,8oy,vqy} {,6yv.p} v,yop,py z6.yz
8alance at Arll , zoop z8,;,oo ;.p (z,p8o,;8) (.o) ,,zz zz.pz
rot for the year - - pz,88 z.88 pz,88 z.88
8alance at Varch , zoo z8,;,oo ,;.p (z,;8;,;pz) (,z.) ,;zp,o8 z.8o
Audltors` reort on age ;8.
* !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
Cash llow Statement - ear ended Varch , zo
zovv zovo
Mau. C Cin Lacs* Mau. C Cin Lacs**
Cash Bows from operating activities
Cash absorbed ln oeratlons {vp,yy} {o.o} pz,88 z.88
Net cash used ln oeratlng actlvltles {vp,yy } {o.o} pz,88 z.88
lncrease[{oecrease} in cash and cash equivalents {vp,yy} {o.o} pz,88 z.88
Movement in cash and cash equivalents:
At Arll , v,yzp,o8 z6.8v ,,zz zz.pz
lncrease/(Oecrease) {vp,yy} {o.o} pz,88 z.88
At Varch , v,yop,py z6.yv ,;zp,o8 z.8o
!he notes on age 8 form an lntegral art of these nanclal statements.
Audltors` reort on age ;8.
* !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
8
Notes to the llnanclal Statements - ear ended Varch , zo
v. eLNLAL lNlOMA1lON
!he Arvlnd Overseas (Vaurltlus) Llmlted ls a rlvate comany
lncororated and domlclled ln Vaurltlus. !he address of lts
reglstered ohce ls o, lrere lellx de valols Street, ort Louls,
Vaurltlus and the lace of buslness ls at La !our koenlg, olnte aux
Sables. lts lmmedlate and ultlmate holdlng comany ls !he Arvlnd
Llmlted, lncororated ln lndla. !he comany ceased buslness ln
August zoo. !hese nanclal statements wlll be submltted for
conslderatlon and aroval at the forthcomlng Annual Veetlng of
Shareholders of the comany.
z. SleNlllCAN1 ACCOuN1lNe OLlClLS
!he rlnclal accountlng ollcles adoted ln the rearatlon
of these nanclal statements are set out below. !hese ollcles
have been conslstently alled to all the years resented, unless
otherwlse stated.
{a} Basis of preparation
!he nanclal statements of !he Arvlnd Overseas (Vaurltlus)
Llmlted have been reared under the break u basls.
All assets have been stated at the lower of cost and net
reallsable value. All long term assets have been reclassled
as current.
{b} loreign Currencies
(l) lunctlonal and resentatlon Currency
ltems lncluded ln the nanclal statements are measured
uslng Vaurltlan C, the currency of the rlmary
economlc envlronment ln whlch the entlty oerates
(functlonal currency"). !he nanclal statements
are resented ln Vaurltlan C, whlch ls the comany`s
functlonal and resentatlon currency.
(ll) !ransactlons and 8alances
lorelgn Currency !ransactlons are translated lnto the
functlonal currency uslng the exchange rates revalllng
on the dates of the transactlons. lorelgn exchange
galns and losses resultlng from the settlement of
such transactlons and from the translatlon at year-
end exchange rates of monetary assets and llabllltles
denomlnated ln forelgn currencles are recognlsed ln
the statement of comrehenslve lncome.
Non-monetary ltems that are measured at hlstorlcal
cost ln a forelgn currency are translated uslng the
exchange rate at the date of the transactlon.
Non-monetary ltems that are measured at falr value ln
a forelgn currency are translated uslng the exchange
rates at the date the falr value was determlned.
{c} oeferred income tax
Oeferred lncome tax ls rovlded ln full, uslng the llablllty
method, on temorary dlherences arlslng between the tax
bases of assets and llabllltles and thelr carrylng amounts ln
the nanclal statements. However, lf the deferred lncome
tax arlses from lnltlal recognltlon of an asset or llablllty ln
a transactlon, other than a buslness comblnatlon, that at
the tlme of the transactlon ahects nelther accountlng nor
taxable rot or loss, lt ls not accounted for.
Oeferred lncome tax ls determlned uslng tax rates that have
been enacted by the end of the reortlng erlod and are
exected to aly ln the erlod when the related deferred
lncome tax asset ls reallsed or the deferred lncome tax
llablllty ls settled.
Oeferred tax assets are recognlsed to the extent that lt ls
robable that future taxable rot wlll be avallable agalnst
whlch deductlble temorary dlherences can be utlllsed.
{d} rovisions
rovlslons are recognlsed when the comany has a resent
legal or constructlve obllgatlon as a result of ast events, lt
ls robable that an outow of resources that can be rellably
estlmated wlll be requlred to settle the obllgatlon.
. SHAL CAl1AL zovv zovo
Mau. C Cln Lacs* Mau. C Cln Lacs**
AU!HOlSLO
z,oo,ooo ordlnary shares of C oo each zyo,ooo,ooo ,8y6.yo zo,ooo,ooo ,;zp.z
lSSULO ANO lULL AlO
z,8,; ordlnary shares of C oo each z8,yvy,voo ,6p8.qy z8,;,oo ,;.p
q. llNANCL COS1S
Net forelgn exchange transactlon Losses {vy,yq} {o.zy} p,;o z.p
y. oLlLLo 1AXA1lON
Oeferred lncome tax assets are recognlsed for tax losses carrled forward only to the extent that reallsatlon of related tax benet ls robable.
!he comany has tax losses of Vau.C8;,z,8 C ln Lacs oo.;p* (zoo: Vau C88,;,z Cln Lacs ,;pp.oo**) to carry forward agalnst
future taxable lncome, whlch have not been recognlsed ln these nanclal statements due to cessatlon of buslness.
* !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
8z
AvlNO SlNNlNG LlVl!LO ANNUAL LO! zoo - zo
We have audlted the nanclal statements of Arvind Spinning Limited set out on ages 8 to 8.
!hls reort ls made solely to the comany`s members, as a body. !o the fullest extent ermltted by law, we do not accet or assume resonslblllty to
anyone other than the comany and the comany`s members as a body, for our audlt, for thls reort or for the olnlon we have formed.
!he dlrectors are resonslble for keelng roer accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the nanclal osltlon of
the comany. !hey are also resonslble for safeguardlng the assets of the comany and hence for taklng reasonable stes for the reventlon and
detectlon of fraud and other lrregularltles. lt ls our resonslblllty to form an lndeendent olnlon, based on our audlt, on the nanclal statements
and to reort our olnlon to you. We belleve that our audlt rovldes a reasonable basls for our olnlon.
ln our olnlon, the nanclal statements, whlch has been reared under the break up basis, glves a true and falr vlew of the state of ahalrs of the
comany as at Varch , zo and of lts loss for the year then ended.
ort Louls, BoO 8 Co
Vaurltlus. Chartered Accountants
Oate: !une o, zo
eort of the Audltors to the Vembers
Oear Shareholder
!he 8oard of Olrectors ls leased to resent the nanclal statements of Arvind Spinning Limited for the year ended Varch , zo, the contents
of whlch are llsted below :
All shareholders agree that the Annual eort need not comly wlth Sectlon z8 of the Comanles Act, zoo.
!hls reort was aroved by the 8oard of Olrectors on !une o, zo.
SAN1AY S. LALBHAl 1AYLSH k. SHAH
Olrector Olrector
Olrectors` eort
8
8alance Sheet - Varch , zo
Notes zovv zoo
ASSL1S Mau. C Cin Lacs* Vau. C Cln Lacs**
Current assets
Cash and cash equlvalents yp,yyo p.zv p,p;o 8.88
1otal assets yp,yyo p.zv p,p;o 8.88
Lqul1Y ANo LlABlLl1lLS
Capital and decit
Share caltal 8z,qop,p66 v,zyy.8y 8z,op,p ,zzp.o
evenue declt {8v,8v6,vp6} {v,z68.6q} (8,8,pp) (,zzo.z)
yp,yyo p.zv p,p;o 8.88
Lquity holders' interest yp,yyo p.zv p,p;o 8.88
!hese nanclal statements have been aroved for lssue by the 8oard of Olrectors on: !une o,zo.
SAN1AY S. LALBHAl 1AYLSH k. SHAH
Olrector Olrector
!he notes on age 8 form an lntegral art of these nanclal statements.
Audltors` reort on age 8z.
* !he ruee equlvalent of Vaurltlan C has been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
lncome Statement - ear ended Varch , zo
zovv zoo
Mau. C Cin Lacs* Vau. C Cln Lacs**
Admlnlstratlve exenses {v,zoo} {o.oz} (,zoo) (o.oz)
Loss for the year {v,zoo} {o.oz} (,zoo) (o.oz)
!hese nanclal statements have been aroved for lssue by the 8oard of Olrectors on: !une o,zo.
SAN1AY S. LALBHAl 1AYLSH k. SHAH
Olrector Olrector
!he notes on age 8 form an lntegral art of these nanclal statements.
Audltors` reort on age 8z.
* !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
8
AvlNO SlNNlNG LlVl!LO ANNUAL LO! zoo - zo
Share Capital evenue oecit 1otal
Mau. C Cin Lacs* Mau. C Cin Lacs* Mau. C Cin Lacs*
8alance at Varch , zoo 8z,op,p ,z;;.8 (8,8,pp) (,z8.z) p,p;o p.z
Loss for the year - - (,zoo) (o.oz) (,zoo) (o.oz)
Balance at March v, zovv 8z,qop,p66 v,zyy.8y {8v,8v6,vp6} {v,z68.6q} yp,yyo p.zv
8alance at Varch , zoop 8z,op,p ,zzp.o (8,8,;p) (,zzo.o) p,;o 8.po
Loss for the year - - (,zoo) (o.oz) (,zoo) (o.oz)
8alance at Varch , zoo 8z,op,p ,zzp.o (8,8,pp) (,zzo.z) p,p;o 8.88
Audltors` reort on age 8z.
*!he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
Statement of Changes ln Lqulty - ear ended Varch , zo
Cash llow Statement - ear ended Varch , zoop
Notes zovv zoo
Mau. C Cin Lacs* Vau. C Cln Lacs**
Cash Bows from operating activities
Loss for the year {v,zoo} {o.oz} (,zoo) (o.oz)
Net cash used ln oeratlng actlvltles {v,zoo} {o.oz} (,zoo) (o.oz)
Net decrease in cash and cash equivalents {v,zoo} {o.oz} (,zoo) (o.oz)
Movement in cash and cash equivalents
At Arll , ypq,pyo p.zq p,;o 8.po
Oecrease {v,zoo} {o.oz} (,zoo) (o.oz)
At March v, yp,yyo p.zz p,p;o 8.88
Audltors` reort on age 8z.
* !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
8
Notes to the llnanclal Statements - ear ended Varch , zo
. SHAL CAl1AL zovv zovo
Mau. C Cln Lacs* Mau. C Cln Lacs**
S1A1Lo CAl1AL
Ordlnary shares
At Arll , and At Varch , 8z,qop,p66 v,zyy.8y 8z,op,p ,zzp.o
q oLlLLo 1AXA1lON
Oeferred lncome tax assets are recognlsed for tax losses carrled forward only to the extent that reallsatlon of related tax benet ls robable.
!he comany has tax losses of Vau.C;,z8,p Cln Lacs ,.o* (zoo :Vau.C;,z,pp Cln Lacs .8** ) to carry forward agalnst future
taxable lncome, whlch have not been recognlsed ln these nanclal statements due to cessatlon of buslness.
* !he ruee equlvalent of Vaurltlan C has been glven at the lnter bank rate as on st Varch, zo ( Vau C= .o)
** !he ruee equlvalent of Vaurltlan C has been glven at the lnter bank rate as on st Varch, zoo ( Vau C= .p;)
v. eLNLAL lNlOMA1lON
Arvlnd Slnnlng Llmlted ls a rlvate comany lncororated and
domlclled ln Vaurltlus. lts maln actlvlty ls the manufacture of
rlng and oen end sun cotton yarn. !he address of lts reglstered
ohce ls at o, lrere lellx de valols Street, ort Louls, Vaurltlus
and the lace of buslness was at La !our koenlg, olnte aux Sables.
!he comany ceased buslness ln August zoo. Arvlnd Llmlted,
lncororated ln lndla ls the holdlng comany.
!hese nanclal statements wlll be submltted for conslderatlon and
aroval at the forthcomlng Annual Veetlng of Shareholders of
the comany.
z. SleNlllCAN1 ACCOuN1lNe OLlClLS
!he rlnclal accountlng ollcles adoted ln the rearatlon
of these nanclal statements are set out below. !hese ollcles
have been conslstently alled to all the years resented, unless
otherwlse stated.
{a} Basis of preparation
!he nanclal statements of Arvlnd Slnnlng Llmlted have
been reared under the break up basis. All assets have
been stated at the lower of cost and net reallsable value. All
long term assets have been reclassled as current.
{b} oeferred income taxes
Oeferred lncome tax ls rovlded ln full, uslng the llablllty
method, on temorary dlherences arlslng between the tax
bases of assets and llabllltles and thelr carrylng amounts ln
the nanclal statements. However, lf the deferred lncome
tax arlses from lnltlal recognltlon of an asset or llablllty ln
a transactlon, other than a buslness comblnatlon, that at
the tlme of the transactlon ehects nelther accountlng nor
taxable rot or loss, lt ls not accounted for.
Oeferred lncome tax ls determlned uslng tax rates that have
been enacted by the end of the reortlng erlod and are
exected to aly ln the erlod when the related deferred
lncome tax asset ls reallsed or the deferred lncome tax
llablllty ls settled.
Oeferred tax assets are recognlsed to the extent that lt ls
robable that future taxable rot wlll be avallable agalnst
whlch deductlble temorary dlherences can be utlllsed.
{c} rovisions
rovlslons are recognlsed when the comany has a resent
legal or constructlve obllgatlon as a result of ast events, lt
ls robable that an outow of resources that can be rellably
estlmated wlll be requlred to settle the obllgatlon.
8
AvlNO !LX!lLLS VlLLS LlVl!LO ANNUAL LO! zoo - zo
Audltor`s eort
!o the Shareholders of Arvlnd !extlles Vllls Llmlted
We have audlted the accomanylng 8alance Sheet of Arvlnd !extlles Vllls Llmlted as of Varch, zo and the related rot and Loss Account and
Cash llow Statement for the year then ended. !hese nanclal statements are the resonslblllty of the Comany`s Vanagement. Our resonslblllty ls
to exress an olnlon on these nanclal statements based on our audlt.
We conducted our audlt ln accordance wlth 8angladesh Standards on Audltlng. !hose standards requlre that we lan and erform the audlt to
obtaln reasonable assurance about whether the nanclal statements are free of materlal mlsstatement. An audlt lncludes examlnlng, on a test
basls, evldence suortlng the amounts and dlsclosures ln the nanclal statements. An audlt also lncludes assesslng the accountlng rlnclles used
and slgnlcant estlmates made by the management, as well as evaluatlng the overall nanclal statements resentatlon. We belleve that our audlt
rovldes a reasonable basls for our olnlon.
ln our olnlon, the nanclal statements referred to above glve a true and falr vlew of the state of the Comany`s Ahalrs as of Varch zo and of
the results of lts oeratlons and lts cash ows for the year then ended ln accordance wlth 8angladesh Accountlng Standards and comly wlth the
Comanles Act, pp and other allcable laws and regulatlons.
We further reort that:
a. We have obtalned all the lnformatlon and exlanatlons whlch to the best of our knowledge and bellef were necessary for the uroses of our
audlt and made due verlcatlon thereof,
b. ln our olnlon, roer books of accounts as requlred by law have been ket by the Comany so far as lt aeared from our examlnatlon of those
books, and
c. !he Comany`s 8alance Sheet and rot and Loss Account dealt wlth by the reort are ln agreement wlth the books of accounts malntalned by
the Comany and examlned by us.
Ohaka ACNABlN
z !uly, zo Chartered Accountants
8;
8alance Sheet as of Varch, zo
Note v.o.vv v.o.vv .o.o .o.o
1aka Cin Lacs* !aka Cln Lacs**
l. SOuCLS Ol luNoS
v. Shareholders' lunds
a) Share Caltal yoo,ooo,ooo ,o6p.yo oo,ooo,ooo ,z.zz
b) lssued, Subscrlbed 8 ald-u Share Caltal ,zoo,ooo vp.6q ;oo,ooo .
c) Share remlum zv,qyq,y6y vv.yv ,zp,;o zp.p
d) Share Allcatlon y,y6q,ooo qyv.6v p,z,oo z.o
p8,zv8,y6y 6oz.p6 z,,; p.p8
ll. ALlCA1lON Ol luNoS
v. lixed Assets
z. Capital work-in-rogress {Building} qq,8yy,yy6 zyy.8 - -
. Current Assets, Loans and Advances zv,68,v8 vv.vy ,;po,; z.o
a) Cash and 8ank 8alances vv,pz,6op 6p.p , z.88
b) Securlty Oeoslt p,pyy,yop 6v.zq ,;,o z.;z
q. Less : Current Liabilities 8 rovisions - - - -
y. Net Current Assets {z-} 66,zz6,opq qo6.yy ,;po,; z.o
6. Miscellaneous
a) rot and Loss Account v,ppz,6yv vp6.qv zo,8,o8 .8
p8,zv8,y6y 6oz.p6 z,,; p.p8
!he annexed notes form an lntegral art of the balance sheet.
1AYLSH k. SHAH 1AeolSH e. oALAL
Olrector Olrector
Ohaka,
Oate : z !uly, zo
* !he ruee equlvalent of !aka Chas been glven at the lnter bank rate as on st march, zo ( !aka C= o.)
** !he ruee equlvalent of !aka Chas been glven at the lnter bank rate as on st march, zoo ( !aka C= o.)
88
AvlNO !LX!lLLS VlLLS LlVl!LO ANNUAL LO! zoo - zo
rot and Loss Account for the erlod from o Arll zoo to Varch, zo
Note zovo-vv
1aka
zovo-vv
Cin Lacs*
zoop-o
!aka
zoop-o
Cln Lacs**
!urnover/evenue - - - -
Cost of Sales - - - -
eross rot - - - -
Less: Oeratlng Lxenses: ; vv,vz8,y6 68. ;,o8 o.z
Net Loss {vv,vz8,y6} {68.} (;,o8) ( o.z )
Add: Accumulated Loss, brought forwarded {zo,86q,vo8} {vz8.o8} (zo,8z,8oo) (.)
Accumulated {Loss} transferred to Balance Sheet {v,ppz,6yv} {vp6.qv} (zo,8,o8) (.8)
!he annexed note forms an lntegral art of the rot 8 Loss Account.
1AYLSH k. SHAH 1AeolSH e. oALAL
Olrector Olrector
Ohaka,
Oate : z !uly, zo
* !he ruee equlvalent of !aka Chas been glven at the lnter bank rate as on st Varch, zo ( !aka C= o.)
** !he ruee equlvalent of !aka Chas been glven at the lnter bank rate as on st Varch, zoo ( !aka C= o.)
Statement of Cash llows for the erlod from o Arll, zoo to Varch, zo
zovo-vv zovo-vv zoop-o zoop-o
1aka Cin Lacs* !aka Cln Lacs**
a} Cash llow from Operating Activities
Net Loss {vv,vz8,y6} {68.} (;,o8) (o.z)
Adjustment for ltems not lnvolvlng movement of cash:
Oereclatlon - - - -
(Galn)/loss on sale of xed assets - - - -
!ax ald - - - -
{vv,vz8,y6} {68.} (;,o8) (o.z)
Changes ln worklng caltal comonents:
lncrease ln reayments (Securlty Oeoslt) {6,6z8,6p8} {p.yz}
Net cash Bow from operating activities {vy,yyy,z6v} {voy.8y} (;,o8) (o.z)
b} Cash llow from lnvesting Activities
Caltal work-ln-rogress-8ulldlng {qq,8yy,yy6} {zyy.8}
{qq,8yy,yy6} {zyy.8} - -
c} Cash llow from linancing Activities
lssuance of Share at remlum - - - -
Share Allcatlon y,y6q,ooo qyv.6v - -
Net Cash Bow from linancing Activities y,y6q,ooo qyv.6v - -
Net surlus/(declt) of cash 8 bank balance for the year (a+b+c) vo,pq8,p6 yv.oq (;,o8) (o.z)
Cash 8 bank balance at beglnnlng of the year qq,6q6 z.88 8o,p .z
Cash 8 bank balance at end of the year vv,pz,6op y.pz , z.88
* !he ruee equlvalent of !aka Chas been glven at the lnter bank rate as on st march, zo ( !aka C= o.)
** !he ruee equlvalent of !aka Chas been glven at the lnter bank rate as on st march, zoo ( !aka C= o.)
8p
Notes to the llnanclal Statements for the erlod from o Arll zoo
to Varch, zo
v. lormation, Status and Activities
v.v lormation and Status
Arvlnd !extlle Vllls Llmlted, a rlvate comany llmlted by shares, was lncororated ln 8angladesh on z Setember zoo, under the
Comanles Act, pp, wlth authorlzed caltal !k.oo,ooo,ooo (fty crores) dlvlded ln to o,ooo,ooo (ve crores) shares of !k.o (ten)
each. Subsequently the ;o,ooo (seventy thousand) shares of the comany were acqulred by romoters, Arvlnd lashlon Llmlted, Vr. !ayesh
kantllal Shah and Vr. !agadlsh Gajanand Oalal.
v.z Activities
!he comany was establlshed wlth the rlnclal objectlves of carrylng of buslness of slnnlng, weavlng, or manufacturlng or lmortlng,
exortlng or deallng ln cotton or other fabrous substances and the rearatlon, dyelng or colorlng of any of the sald substances and the
sale, lmort, exort yarn, cloth or other manufactured fabrous roducts.
z. Signicant Accounting olicies
z.v Basis of the reparation of linancial Statements
!hese nanclal statements have been reared under the hlstorlcal cost conventlon ln accordance wlth lnternatlonal Accountlng Standards
as adoted ln 8angladesh.
z.z oepreciation on lixed Assets
As er comany`s ollcy, stralght llne method ls followed for charglng dereclatlon on xed assets of the comany. Ourlng the year under
audlt, dereclatlon has not been charged as the comany does not own any xed assets other than Land and Land Oeveloment.
z. eeneral
a) llgures ln the nanclal statements have been rounded oh to the nearest !aka.
b) Oollar amount has been converted uslng average converslon rate.
v.o.zovv v.o.zovv .o.zoo .o.zoo
1aka Cin Lacs* !aka Cln Lacs**
. Share Capital
Authorlzed caltal:
o,ooo,ooo ordlnary shares of !k.o each yoo,ooo,ooo ,o6p.yo oo,ooo,ooo ,z.zz
lssued, subscrlbed and ald-u caltal:
,zo,ooo (revlous ear ;o,ooo) ordlnary shares of
!k.o each fully ald-u ,zoo,ooo vp.6q ;oo,ooo .
Oetalls of shareholdlngs are as under:
No. of share
Name of the shareholder
Arvlnd Llmlted. 8,oo ,v86,ooo vp.y6 8,ooo .
Vr.!ayesh kantllal Shah ;oo y,ooo o.oq ;,ooo o.o
Vr. !agdlsh Gajanand Oalal ;oo y,ooo o.oq ;,ooo o.o
zo,ooo ,zoo,ooo vp.6q ;oo,ooo .
q. Share remium
;oo,ooo shares Q .; q,yzp,yoy zy.8v ,zp,;o zp.p
z,o,ooo shares Q ;.;o v6,pzy,o6o vo.po - -
zv,qyq,y6y vv.yv ,zp,;o zp.p
po
AvlNO !LX!lLLS VlLLS LlVl!LO ANNUAL LO! zoo - zo
v.o.zovv v.o.zovv .o.zoo .o.zoo
1aka Cin Lacs* !aka Cln Lacs**
y. Share Application
Share Allcatlon vp,qzy,o6o vvp.zy p,z,oo z.o
Less : !ransfer to Share Caltal 8 Share remlum on
Allotment
vp,qzy,o6o vvp.zy - -
Add : Share Allcatlon recelved durlng the year y,y6q,ooo qyv.6v - -
y,y6q,ooo qyv.6v p,z,oo z.o
6. Capital work-in-rogress {Building}
Oenlng 8alance - - - -
Add : Addltlon durlng the ear qq,8yy,yy6 zyy.8 - -
qq,8yy,yy6 zyy.8 - -
Less : !ransferred durlng the ear - - - -
qq,8yy,yy6 zyy.8 - -
y. Cash and Cash Lquivalent
Cash ln Hand vvz,yvy.oo o.6p - -
Cash at 8ank:
A/C = ozoozooo 6,zyy,oqy 8.y p8, o.
A/C = ozoo8;zooo y,ooz,8qp o.yv ,o z.z
vv,pz,6op 6p.p , z.88
zovo-vv zovo-vv zoop-o zoop-o
1aka C in Lacs* !aka Cln Lacs**
8. Operating Lxpenses
Lease rental ,qz,zzq zv.oz - -
8ank charge z8,yoo z.oz - -
!axes and Outles v,8,6 8.zz z,o8 o.o8
8uslness Oeveloment Lxenses 6,o8,zo6 y.oy z,ooo o.
vv,vz8,y6 68. ;,o8 o.z
* !he ruee equlvalent of !aka Chas been glven at the lnter bank rate as on st march, zo ( !aka C= o.)
** !he ruee equlvalent of !aka Chas been glven at the lnter bank rate as on st march, zoo ( !aka C= o.)
p
1he information as required by a general circular dated 8th lebruary, zovv by Ministry of Corporate
Ahairs granting general approval under Section zvz {8} of the Companies Act,vpy6 :
C ln crores
Sr.
No.
Name of Subsldlary Caltal eserves !otal
Assets
!otal
Llabllltles
Oetalls of
lnvestment
!urnover rot/(Loss)
before
!axatlon
rovlslon
for
!axatlon
rot/
(Loss)
after
!axatlon
roosed
Olvldend
(a) (b) (c) (d) (e) (f) (g) (h) (l) (j)
Arvlnd roducts Llmlted .o (.) o.o o.o [ .z o.o - o.o Nll
z Asman lnvestments Llmlted o.o8 (zz.) ;.8 p.8z [z ;.o . o. o.p8 Nll
Arvlnd Worldwlde lnc. z.p (o.;) .; z.o [ o.oo o. (o.) o.z; Nll
Arvlnd Worldwlde (V) lnc. z.8; (z;.) . .oo [ o.oo (o.o) - (o.o) Nll
Arvlnd etall Llmlted zo.o .8o z;.8 zz.p [ 8. o. o.; (o.zo) Nll
Arvlnd Llfestyle 8rands Llmlted zo.o z. ;.o; o.; [ z;.oo ;. ;.z8 o.z Nll
; Syntel !elecom Llmlted o.o (.z) o. . [ o.o (o.o) - (o.o) Nll
8 Arvlnd Accel Llmlted o.o o.o; o.o p.8p [ ;.o o.o; o.o o.o Nll
p !he Anu Lnglneerlng Llmlted .o zp. oz.;; ;o.z [ p.8 z.8 .o .8 Nll
o Arvlnd lnfrastructure Llmlted o.o o.o z.8 z. [ zp.8 o.; o.op o.o8 Nll
Arvlnd 8rands 8 etall Llmlted
(lormerly known as Sllverstone
roertles Llmlted)
o.o ;p.8z p. .z [ o.oo (o.o) o.oo (o.o) Nll
z Ahmedabad Last lnfrastructure LL o.o (o.o) o.o o.o [ o.oo (o.o) o.oo (o.o) Nll
C ln crores
[ lully ald Lqulty Shares(Quoted) o.
lully ald Lqulty Shares(Unquoted) zz.oo
[z Not allcable belng lnvestment
Subsldlary
[ !hese Comanles have no
lnvestments.
[ lnvestment ln Govt. Securltles o.oz
[ lnvestment ln artnershl llrm .;
[ lnvestment ln artnershl llrm .p
NO1L uNoL SuB-SLC1lON {v} Ol SLC1lON zvz
!he Vlnlstry of Cororate Ahalrs has, vlde lts General Clrcular No. z / zo (No: /z/zoo;-CL-lll) dated 8th lebruary, zo, granted a general
exemtlon to the Comanles under Sectlon zz(8) of Comanles Act, p, relatlng to the statements to be attached ln resect of the subsldlary
comanles, wlth the nanclal statements of the Comanles. As requlred, the lnformatlon ln aggregate for each of the subsldlary Comany ls
furnlshed as under :
Shareholders lnterested ln obtalnlng the statements of Comany`s lnterest ln the subsldlarles or stand-alone nanclal statements of the
subsldlarles may obtaln lt by wrltlng lt to the Comany.
pz
ANNUAL LO! zoo - zo
Lear S|are|o|oers,
Sub: ereen lnitiative in Corporate eovernance
ve w|s| to |ntorm you t|at |n oroer to promote Creen Lnv|ronment, t|e ||n|stry ot Corporate Ana|rs, Hew Le||| (|CA) |as ta|en Creen ln|t|at|ve |n
t|e Corporate Covernance by perm|tt|ng paper|ess comp||ances by Compan|es v|oe |ts C|rcu|ar Ho. :,/.o:: oateo .:.o,..o:: ano C|rcu|ar Ho. :8/.o:: oateo
.,.o,..o:: atter cons|oer|ng certa|n prov|s|ons ot t|e lntormat|on ec|no|ogy Act, .ooo w||c| prov|oes t|e va||o|ty ot seno|ng oocuments t|roug| e|ectron|c
mooe ano |as c|ar|neo t|at t|e serv|ce ot oocuments by a Company can be maoe t|roug| e|ectron|c mooe |nsteao ot p|ys|ca| copy ot oocument(s).
lencetort|, we propose to seno a|| commun|cat|ons/oocuments |nc|uo|ng not|ces ca|||ng AC|, Auo|teo l|nanc|a| Statements, L|rectors' leport ano
Auo|tors' leport |n e|ectron|c torm to t|e L-ma|| lL prov|oeo/upoateo by you ano maoe ava||ab|e to us by t|e Le pos|tor|es.
ln oroer to rece|v|ng t|e oocuments |n e|ectron|c torm, ||no|y comp|y w|t| t|e to||ow|ng.
lor Shareholders holding shares in oemat lorm
ln case you oes|re to rece|ve t|e atoresa|o oocuments |n e|ectron|c mooe, ||no|y upoate your L-ma|| lL |n t|e Lemat Account by contact|ng your Lepos|tory
art|c|pant. L-ma|| upoateo |n t|e Lemat Account wou|o be useo to seno oocuments t|roug| e|ectron|c mooe.
lor Shareholders holding shares in hysical lorm
ln case you oes|re to rece|ve t|e atoresa|o oocuments |n e|ectron|c mooe |n ||eu ot p|ys|ca| mooe, ||no|y upoate your e-ma|| lL w|t| our leg|strar ano S|are
ranster Agent, S|arepro Serv|ces (lno|a) r|vate L|m|teo at ,:6-,.o, Levnanoan |a||, Opp. Sanyas As|ram, L|||sbr|oge, A|meoabao 8ooo6 by ma|||ng
your L-ma|| lL w|t| t|e to||ow|ng oeta||s to arv|no|to_s|areproserv|ces.com w|t| a scan copy ot |etter ou|y s|gneo by you. |e s|gnature ment|oneo |n your
|etter s|ou|o be matc|eo as per spec|men s|gnature recoroeo w|t| t|e company.
lo||o Ho. . Hame.
L-ma|| lL. |ooe ot o|spatc|. L|ectron|c mooe
|ease note t|at, as a member ot t|e Company, you w||| be ent|t|eo to be turn|s|eo, tree ot cost, w|t| a pr|nteo copy ot t|e 3a|ance S|eet ot t|e Company
ano a|| ot|er oocuments requ|reo by |aw to be attac|eo t|ereto |nc|uo|ng t|e ront ano Loss Account ano Auo|tors' leport ano a|| ot|er commun|cat|on
t|at may be sent to you, upon rece|pt ot a requ|s|t|on trom you to t||s enect.
|embers w|o |ave not yet oemater|a||zeo t|e|r s|ares are requesteo to get t|e|r s|ares oemater|a||zeo at t|e ear||est.
/ou may a|so seno your consent |ncorporat|ng e-ma|| lL to rece|ve oocuments |n e|ectron|c mooe |n wr|t|ng to our leg|strar ano S|are ranster Agent to
t|e to||ow|ng aooress . S|arepro Serv|ces (lno|a) r|vate L|m|teo at ,:6-,.o, Levnanoan |a||, Opp. Sanyas| As|ram, L|||sbr|oge, A|meoabao 8ooo6.
ve are certa|n t|at you wou|o apprec|ate t|e Creen ln|t|at|ve ta|en by |CA ano your company's oes|re to part|c|pate |n suc| |n|t|at|ves.
l. v. 3||man|
Company Secretary
lOM Ol OXY
AvlNo LlMl1Lo
Naroda oad, Ahmedabad - 8o oz.
l/We of
ln the Olstrlct of
belng a member / members of the above named Comany hereby aolnt of
ln the Olstrlct of
or falllng hlm of
ln the Olstrlct of or falllng hlm
of ln the Olstrlct of as my / our
roxy to vote for me / us on my / our behalf at the Annual General Veetlng of the Comany to be held on lrlday, the o
th
Setember,
zo and at any adjournment thereof.
Slgned thls day of zo.
Slgnature:
L.l.No.
* Oeosltory : NSOL/COSL
* O. lO
* Cllent lO
* lor Shares held ln Llectronlc lorm
No. of Share(s) held
Notes :
() A member entltled to attend and vote ls entltled to aolnt a roxy to attend and vote lnstead of hlmself.
(z) A roxy need not be a member.
() !he comleted form should be deoslted at the eglstered Ohce of the Comany at Naroda oad, Ahmedabad-8o oz not less
than 8 hours before the tlme for holdlng the meetlng.
AvlNo LlMl1Lo
egd. Ohce : Naroda oad, Ahmedabad - 8o oz.
A11LNoANCL SLl
l hereby record my resence at the Annual General Veetlng held at !hakorebhal Oesal Hall, Near Law Garden, Llllsbrldge, Ahmedabad
- 8o oo on o
th
Setember, zo at o.o a.m.
. L.l.NO.
z. * Oeosltory : NSOL/COSL
. * O. lO
. * CLlLN! lO
* lO SHALS HLLO lN LLLC!ONlC lOV
. lULL NAVL Ol !HL SHALHOLOL :
(lN 8LOCk LL!!LS)
. NO. Ol LQUl! SHALS HLLO:
;. SlGNA!UL Ol !HL SHALHOLOL
O OX A!!LNOlNG :
NO!L : LLASL llLL lN !HlS A!!LNOANCL SLl ANO HANO l! OvL A! !HL LN!ANCL Ol !HL HALL.
Ahx
alse
evenue
Stam
Arvind Limited
labric Coupon
A s. yoo-oo valld Uto o.op.zoz
!lme : -oo A.V. to -oo .V.
8lll No. Oate
Arvind Limited
labric Coupon
A s. yoo-oo valld Uto o.op.zoz
!lme : -oo A.V. to -oo .V.
8lll No. Oate
Arvind Limited
labric Coupon
A s. zyo-oo valld Uto o.op.zoz
!lme : -oo A.V. to -oo .V.
8lll No. Oate
Arvind Limited
labric Coupon
A s. zyo-oo valld Uto o.op.zoz
!lme : -oo A.V. to -oo .V.
8lll No. Oate
Arvind Limited
labric Coupon
A s. zyo-oo valld Uto o.op.zoz
!lme : -oo A.V. to -oo .V.
8lll No. Oate
Arvind Limited
labric Coupon
A s. zyo-oo valld Uto o.op.zoz
!lme : -oo A.V. to -oo .V.
8lll No. Oate
Arvind Limited
egd. Ohce: NAOOA OAO, AHVLOA8AO - 8o oz.
!he holder of thls couon wlll be entltled to / dlscount on the rlce of cloth of Arvlnd Llmlted
and Arvlnd roducts Ltd. urchased at any etall Sho ln Ahmedabad and z./ dlscount at
other etall Shos mentloned below :
!hls faclllty ls not avallable on urchases agalnst Credlt Cards.
Arv|noLxper|enceStore
-6-,,6, l|mayat nagar, Hext tolLlC3an|,
lyoerabao-.,
|/s avanleta||s, Arv|noLxper|enceStore
--.,:/A, Ajmatpura, Hear laj|v C|ow|,
kar|mnagar-ooo:
|/s- |ura|| S|||s, Arv|noLxper|enceStore
,-,-::., kasba 3azar, k|ammam-o,oo: (A)
|/s Su|t|ngs 8 S||rt|ngs
S|opHo. ., anc|s|ee|a owers ,
ar||ane, Secunoerabao- oooo
S|r| Sat| Arv|noLxc|us|ve, Arv|noLxper|enceStore
loaoHo.:, Opp.CranoS|tara, kl3Co|ony,
ku|atpa||y, lyoerabao- ooo,.
|/s Sr| La|s|m| Haras|m|a
L.Ho. o-:-:6 S|opHo. C: 8C.,
Labagaroens, v|sa||apatanam (A)
|nCooeoo.o
S|reeSat| Arv|noLxc|us|ve, Arv|noLxper|enceStore
Hear Laba |ota, |.C.loao,
v|z|anagaram- oo:
|/s S|reeSat| Arv|noLxc|us|ve, Arv|no
Lxper|enceStore, Sa| HagComp|ex,
L. Ho.- ,o-:-./ |.C. loao, v|jayawaoa-.oo:o
S|reeSat| Arv|noLxc|us|ve, Arv|noLxper|ence
Store, SHo. .,/,art, Asst.Ho.::,, C|ow|
varo, a|a|onoa loao,Sr||a|u|am .oo:,
Hear Cano|| ar|
Av|nas|leta||, |LHo. .--.,:/:, Crounol|oor,
Ha||a|agutta, lanm|onoa, varanga|
|ur|| S|||s, lHo. -,-,, O|oCo||ectorate
Comp|ex, ra|as|am 3azaar, Ha|gonoa-o8oo:
!ay Sat| Creat|ons, Arv|noLxper|enceStore,
L.Ho. -:-6, woo||ceStat|on|a|nloao,
ka||naoa, Last Cooavar| L|stt.
Sapt|ag|r| |ens Lxc|us|ve, :6-::-,,o//A,
S|opHo. .o-.:, |a|| loaoL||su||nagar-
lyoerabao-ooo6o
La|b|a| Sa|es 8Serv|ces
Aso|a Sp|ntex rem|ses,
Harooa loao, A|meoabao8oo.
Arv|noLxper|enceStore
S|opHo. 8, Crounonoor, ,Seas |a||,
Hear lCLC|rc|e, late|gunj, 3arooa
Cujarat - .oo:.
Arv|noLxper|enceStore
S|op Ho. ., 8 ,,S|reeC|ambers,
r||on3aug, laj|ot - 6ooo:
latnam, ::8, S|||conva||ey, S||ranjan| Cross lo,
Sate|||te, A|meoabao- 8oo:
kr|s|na kr|s|na, ::, C|anoraprab|uComp|ex, Hr.
Saroar ate| Stao|um, Stao|umlo, Haranpura,
A|meoabao- 8oo:
kr|s|na, , Suryooaya, :st l|oor,
Swast|| C|ar lasta, CC lo,
A|meoabao- 8ooo,
Sr| Sa| Appare|, l:o/:o6SopanComp|ex,
Hr. lClCl 3an|, HewCC lo, C|ano||eoa,
A|meoabao-8.,.,
Hvlnc., Arv|noLxper|enceStore,
Crounol|oor, S|araoS|opp|ngComp|ex,
As|ramlo., A|meoabao- 8ooo,
rat|| C|ot|Stores
Hear S. . Stano, loar.
3|ayan| 3rot|ers
3eo| Cate, !amnagar.
|u|uno
A-:, Super |ar|et, !amnagar.
|arut|
Hear raygra Sc|oo|, ka|o| (H.C.)
loop|a|a C|ot|Centre
Opp. H|||ant| |a|aoev, kapaovanj.
3ans|o|ar
Stat|onloao, |e|sana.
lemangStores
3azar, laju|a C|ty.
S|a|C|atrab|uj Hanc|ano
!awa|ar C|ow|, Surenoranagar.
'Sajan'
!awa|ar loao, Surenoranagar.
l|rac|anoka||oas
!. . |arg, 0na.
ate| |agan|a| |ot|ram
LarjeeC|a||o, 0nj|a.
Ab||nanoan
|a|atma Cano|| loao, va|sao.
Asgara|| Lmpor|um
k|||aparo|, L|st. va|sao.
Aav|ar C|ot|Stores
,, |un|c|pa| Commerc|a| Centre,
Hear |reeCateower, v|snagar.
/og| Se|ect|on, C-, A|s|ar Comp|ex, lajs|ree
C|nema loao, Sector Ho. .o, Cano||nagar.
le||ab|el||aments . Lto.
S|op Ho. ,ka|ao|a Comp|ex,
C|oo-oooloao, Surat ,6oo,
Arv|noLxper|enceStore
S|opC-o. La|s|r|me, Oppos|teownla||,
Anano, Cujarat
Arv|noLxper|enceStore
S|op HoC-, |ercury l, Co||egeloao,
Syamcanarya, Hao|ao, Cujarat
|/s. Hew/or|, Arv|noLxper|enceStore
kuber Arcaoe, :st l|oor, OpplLlC3an|,
|Cloao, orbanoar 6o,, Cujarat
kr|s|na louseot Cotton
.., Crounol|oor, |arao|a |aza,
CC loao, A|meoabao
Los|| S|as|||ant C||ab||oas
lnt|e|aneot Lave|eo|ca|, Amre||
3ombay extor|umvt. Lto.
Saroar C|ow|, 3aroo||.
'0tsav |us', :/. Hagar a|||a S|opp|ngCentre,
Opp. S|a||mar |eatre, 3|aruc|
Sa|ot C|un||a| lat||a|
ler|s|loao, 3|avnagar.
|/s. Los|| C|ot|Stores
|a|era|| C|ow|, 3|uj (kutc|).
!anta C|ot|Store
3azar Street, b||||mora
Hana| SareeCentre
van|awao, C||||a||.
loya| C|ot|Centre
lo||t 3|avan, kav| k|abaroar |arg, Laman
Arv|noLxper|enceStore
8,., 3uo|war et|, OppC|ty ost Omce,
Laxm| loao, une- ,:: oo.
Arv|noLxper|enceStore
La|s|m| C||aya, 3ab|a| Ha|a, Lloao,
3or|va|| vest, |umba| - ,.
v|vaanCarments, |a|pan| r|oe, Hext to|e
laymonoS|op, opp. laj|v Cano|| 3|avan,
S|aranpur lo. Has|| - .
S|a|kuber|a| Hat|a|a|
ower 3azar, Lab|o|.
|/s. !ograj 8Co.
ka|ptaru, :688k|o| Ca|||, L|u||a - ,.,oo:.
Arv|noLxper|enceStore
S|op Ho.o, 0oay 3|awan
|.l. loao, !a|pur - o.oo:
A. C. las||ons, karg|| lerokuty, . Ho. :/,6:, C-.
C||tra|ut /ojna, va|s|a|| Hagar, !a|pur - .:
|/s. Laya Appare|s
C-C,0nnat| ower, Centra| Sp|ne,
v|o|yao|ar Hagar, !a|pur o.o.
Arv|noLxper|enceStore
Ho. , S|r |yagaraja loao,
. Hagar, C|enna| - 6ooo:,
Arv|noLxper|enceStore, ||||en|umower,
Lurgac|a|, la|o|a - ,.: 6o., vest 3enga|
|/s. |. S. Synt|et|c, :,,/A, !amna|a| 3ajaj Street,
ko||ata - ,oooo,.
|/s. S|oo|art|ext||es
:, Hoorma|-Lo||a Lane, ko||ata - ,oooo,.
|/s. S. H. 8 Co.
, Armen|anStreet, ko||ata - ,oooo:.
Location 8 Sites
Llfestyle labrlcs - Oenlm
Arv|no L|m|teo
Harooa loao
A|meoabao 8oo.
Cujarat, lno|a
e|. +,:-,,-o:8ooo
lax. +,:-,,-o:o.6,
sub|r.mu||erjee_arv|no.|n
Llfestyle labrlcs -volles
An|ur ext||es
Arv|no rooucts L|m|teo
Outs|oe la|pur Cate
A|meoabao 8o o..
Cujarat, lno|a
e|. +,:-,,-o:,.oo/o:,.:
lax. +,:-,,-o:,o
br|jes|.b|at|_arv|no.|n
Llfestyle labrlcs - Shlrtlng, khakls and knltwear
Arv|no L|m|teo
O k|atrej, a|u|a ka|o|
L|st Cano||nagar - 8. ,.:
Cujarat, lno|a
e|. +,:-.,6,-,6o
lax. +,:-.,6,-,o,o
pranav.oave_arv|no.|n
Llfestyle Aarel -!eans
Arv|no L|m|teo
.6/. , .,/. kenc|ena|a|||
|ysore loao,
Hear 3anga|ore 0n|vers|ty
3anga|ore 6o o,
e|. +,:-8o-.6,,,ooo
lax. +,:-8o-.6,,,.,,
sanoeep.c|ab|an|_arv|noexports.com
Llfestyle Aarel-knlts
Arv|no L|m|teo
O k|atrej, a|u|a ka|o|
L|st Cano||nagar - 8.,.:
Cujarat, lno|a
e|. +,:-.,6,-,,:o
praney.me|ta_arv|no.|n
Llfestyle Aarel - Shlrts
Arv|no L|m|teo
Ho. , uttapa lnoustr|a| Lstate,
v||te l|e|o loao
|a|aoevpura ost
3anga|ore 6o o,8
e|. +,:-8o-,:,ooo
lax . +,:-8o-,::.,o,
as||s|.|umar_arv|noexports.com
Subsidiaries 8 1oint ventures
Arvlnd roducts Llmlted
Arv|no L|m|teo rem|ses
Harooa loao,
A|meoabao 8oo.
Cujarat, lno|a
e|. +,:-,,-o:8ooo
lax. +,:-,,-o:8668
Arvlnd Llfestyle 8rands Llmlted
8
t|
l|oor, Lu arc r|n|ty
:,, |. C. loao, 3anga|ore 6o oo:
e|. +,:-8o- ,:o6o
lax. +,:-8o-,:o6:
sures|j_arv|nobranos.com
Arvlnd etall Llmlted
t|
l|oor, Lu arc r|n|ty
:,, |. C. loao
3anga|ore 6o oo:
e|. +,:-8o- ,o,88,,
lax. +,:-8o-,o,88,:
ven|at_arv|nobranos.com
!he Anu Lnglneerlng Llmlted
3e||no 66kv Sub Stat|on,
Oo|av loao, A|meoabao 8.,:
Cujarat, lno|a
e|. +,:-,,-..8,o6..-.
lax. +,:-,,-..8,o6,.
anup_anupengg.com
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