POST BOX NO. 10077 THE BOMBAY BURMAH TRADING CORPORATION , LIMITED TEL. NOS.: +91 22 2207 9351- 54 (4 LINES) FAX :0091-22- 2207 1612 / 6772 REGD. OFFICE: 9, WALLACE STREET,FORT, Email: bbtcl(@bom2. vsn1.net.in MUMBAI 400 001 , INDIA. Website : www.bbtcl com CIN: L99999MH1863PL0000002
FORM A - Covering letter of the Annual Audit Report 2014-2015
1 Name of the Company The Bombay Burmali Trading Corporation, Limited
2 Annual Financial Statements for the year ended 31St March,2015
3 Type of Audit Observation Emphasis of Matter
4 Frequency of Observation Appeared since Audit Report pertaining to FY 2011-2012
5 To be signed by :
Managing Director
V P Corporate & Company Secretary
Auditor of the Company
Audit Committee Member 1) The Bombay Burmah Trading Corporation, Ltd A Wadia Enterprise
2015 th 014 - ort 2 150 Rep al nu An
rust n of T A Traditio Contents
Location of Corporation’s Estates and Factories 2
Notice of Annual General Meeting 3-15
Directors’ Report 16-55
Management Discussion and Analysis 56-60
Auditors’ Report on Standalone Financial Statements 61-65
Financial Statements - Standalone 66-69
Notes forming part of Standalone Financial Statements 70-109
Auditors’ Report on Consolidated Financial Statements 110-111
Consolidated Financial Statements 112-115
Notes forming part of the Consolidated Financial Statements 116-157
Statement under section 129 (3) of the Companies Act, 2013 158-161
10 Years’ Financial Review 162
Proxy Form 163-164
150th Annual General Meeting Wednesday, 5th August 2015, 3.45 pm; Y B Chavan Auditorium, Gen Jagannath Bhosale Marg, Nariman Point, Mumbai – 400 021. Annual Report 2014-2015
The Bombay Burmah Trading Corporation, Limited
ANNUAL REPORT 2014-2015
DIRECTORS NUSLI N. WADIA, Esq., Chairman
A. K. HIRJEE, Esq., Vice Chairman
M. L. APTE, Esq.
D. E. UDWADIA, Esq.
P. K. CASSELS, Esq. (upto 28.03.2015)
B. N. B. TAO, Esq. (upto 28.03.2015)
JEH WADIA, Esq.
VINITA BALI (upto 1.10.2014)
SHEELA BHIDE (w.e.f. 28.03.2015)
A. PANJWANI, Esq., Managing Director
NESS WADIA, Esq., Managing Director
VICE PRESIDENT CORPORATE & COMPANY SECRETARY N. H. DATANWALA, Esq.
REGISTERED OFFICE 9, WALLACE STREET, FORT, MUMBAI 400 001. Tel. No. 2207 9351 (4 lines)
PRINCIPAL BANKERS HDFC BANK LIMITED AXIS BANK LIMITED KOTAK MAHINDRA BANK LIMITED THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED
AUDITORS B S R & CO., LLP Lodha Excelus 1st Floor, Apollo Mills Compound, N. M. Joshi Marg, Mahalakshmi, Mumbai 400 011 India
SOLICITORS CRAWFORD BAYLEY & CO. State Bank Building, 4th Floor, Hutatma Chowk, Fountain, Mumbai 400 001.
UDWADIA UDESHI & ARGUS PARTNERS Elphinstone House, 1st Floor, 17, Murzban Road, Fort, Mumbai 400 001.
1 The Bombay Burmah Trading Corporation, Limited
The Bombay Burmah Trading Corporation, Limited
LOCATION OF CORPORATION’S ESTATES AND FACTORIES
Tea and Coffee Estates : (1) Mudis Group of Estates, Mudis P.O., Coimbatore Dist., Tamil Nadu 642 117.
(2) Singampatti Group of Estates, Manjolai P.O., Tirunelveli Dist., Tamil Nadu 627 420.
(3) Dunsandle Estate, Dunsandle P.O., Ootacamund, Nilgiri Dist., Tamil Nadu 643 005.
(4) Elkhill Group of Estates, P.O. Box No. 12, Sidapur P. & T.O., South Coorg, Karnataka 571 253.
(5) Usambara Group, Marvera & Herkulu Estate, P.O. Box 22, Soni, Tanzania.
Weighing Products Division : Plot 304, GIDC, Valsad Industrial Estate, Gundlav, Valsad, Gujarat 396 035.
Healthcare Division : Plot No. 161-B, Village Danpur, Rudrapur Kashipur Road, Paragana-Rudrapur,Tehsil Kichha, Udhamsingh Nagar, Uttarakhand 263 153.
Auto Electric Component Division : Plot no. 128-133, 3rd Cross Street, Nehru Nagar, Kottivakkam, Chennai, Tamil Nadu 600 041.
Malaysian Branch : Suite 628, 6th Floor, Pan Global Plaza, Jalan Wong Ah Fook 80000, Johor Bahru, Malaysia.
2 Annual Report 2014-2015
NOTICE
NOTICE is hereby given that the One Hundred and Fiftieth Annual General Meeting of the members of The Bombay Burmah Trading Corporation, Limited will be held on Wednesday, the 5th day of August, 2015 at 3:45 pm at Y B Chavan Auditorium. Gen. Jagannath Bhosale Marg, Mumbai 400 021, to transact the following business:
ORDINARY BUSINESS: 1. To receive, consider and adopt the audited Financial Statements of the Corporation for the Financial Year ended 31st March, 2015 together with the Reports of the Board of Directors and Auditors thereon. 2. To declare a dividend. 3. To appoint a Director in place of Mr. Nusli Wadia [DIN:00015731] who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re- appointment.
7RFRQVLGHUDQGLIWKRXJKW¿WWRJLYHDVVHQWRUGLVVHQWWRWKHIROORZLQJUHVROXWLRQDVDQ2UGLQDU\ Resolution: “RESOLVED THAT pursuant to the provisions of Sections139 and all other applicable provisions of the Companies Act, 2013 (the Act) read with Rule 3(7) of the Companies (Audit and Auditors) 5XOHV LQFOXGLQJDQ\VWDWXWRU\PRGL¿FDWLRQ V RUUHHQDFWPHQWWKHUHRIIRUWKHWLPHEHLQJ in force), the appointment of Messrs B S R & Co. LLP, Chartered Accountants [Registration 1R::@ DV 6WDWXWRU\ $XGLWRUV RI WKH &RUSRUDWLRQ WR KROG RI¿FH IURP WKH conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting and to authorize the Board of Directors to determine their remuneration. be and is KHUHE\UDWL¿HG´ 7RFRQVLGHUDQGLIWKRXJKW¿WWRJLYHDVVHQWRUGLVVHQWWRWKHIROORZLQJUHVROXWLRQDVDQ2UGLQDU\ Resolution: “RESOLVED THAT the Board of Directors be and is hereby authorised to appoint for the current ¿QDQFLDO\HDULQFRQVXOWDWLRQZLWKWKH&RUSRUDWLRQ¶V$XGLWRUVQDPHO\0HVVUV%65 &R//3LQ UHVSHFWRIWKHDXGLWRIWKHDFFRXQWVRIWKH&RUSRUDWLRQ¶VEUDQFKRI¿FHVRXWVLGH,QGLDDSHUVRQ ZKRLVHLWKHUTXDOL¿HGIRUDSSRLQWPHQWDVDXGLWRURIWKH&RUSRUDWLRQXQGHU6HFWLRQRIWKH &RPSDQLHV$FWRUDQDFFRXQWDQWGXO\TXDOL¿HGWRDFWDVDQDXGLWRURIWKHDFFRXQWVRIVXFK EUDQFKRI¿FHVLQDFFRUGDQFHZLWKWKHODZVRIWKHFRQFHUQHGFRXQWULHV DQGWRGHWHUPLQHWKH UHPXQHUDWLRQDQGRWKHUWHUPVDQGFRQGLWLRQVRIWKHLUDSSRLQWPHQWDV%UDQFK$XGLWRUV´ SPECIAL BUSINESS :
7R FRQVLGHU DQG LI WKRXJKW ¿W WR JLYH DVVHQW RU GLVVHQW WR WKH IROORZLQJ UHVROXWLRQ DV DQ Ordinary Resolution: “RESOLVEDTHAT pursuant to the provisions of section 148 read with the Companies (Audit DQG$XGLWRUV 5XOHV LQFOXGLQJDQ\VWDWXWRU\PRGL¿FDWLRQ V RUUHHQDFWPHQWWKHUHRIIRU the time being in force ), approval of the shareholders of the Corporation be and is hereby granted to the payment of remuneration of ` 200,000/- (Rupees Two lakhs only) plus service tax as applicable and reimbursement of actual travel and out-of-pocket expenses to M/s. GLS & Associates, Cost & Management Accountants, Coimbatore, [ICWA Registration No M 4482] DSSRLQWHGDV&RVW$XGLWRUVE\WKH%RDUGRI'LUHFWRUVIRUWKH¿QDQFLDO\HDUHQGLQJVW0DUFK 2016. “RESOLVED FURTHER THAT the Board of Directors of the Corporation be and is hereby authorized to do all acts and take all such steps as may be necessary, proper or expedient to JLYHHIIHFWWRWKLV5HVROXWLRQ´
3 The Bombay Burmah Trading Corporation, Limited
7RFRQVLGHUDQGLIWKRXJKW¿WWRJLYHDVVHQWRUGLVVHQWWRWKHIROORZLQJUHVROXWLRQDVDQ2UGLQDU\ Resolution:
“RESOLVED that pursuant to the provisions of Sections 149, 152 read with Schedule IV and all RWKHUDSSOLFDEOHSURYLVLRQVLIDQ\RIWKH&RPSDQLHV$FW µWKH$FW¶ DQGWKH&RPSDQLHV $SSRLQWPHQW DQG 4XDOL¿FDWLRQ RI 'LUHFWRUV 5XOHV DQG &ODXVH RI WKH /LVWLQJ $JUHHPHQW V EHWZHHQ WKH &RUSRUDWLRQ DQG WKH 6WRFN ([FKDQJHV ZKHUH WKH &RUSRUDWLRQ¶V shares are listed, Dr.(Mrs) Sheela Bhide [ DIN: 01843547], who was appointed as an Additional Director of the Corporation with effect from 28th March,2015 pursuant to section 161(1) of the $FWDQGZKRKROGVRI¿FHXSWRWKHGDWHRIWKLV$QQXDO*HQHUDO0HHWLQJDQGLQUHVSHFWRIZKRP the Corporation has received a notice in writing from a member proposing her candidature for WKHRI¿FHRI'LUHFWRUEHDQGLVKHUHE\DSSRLQWHGDVD'LUHFWRURIWKH&RUSRUDWLRQ
“RESOLVED FURTHER THAT Dr.(Mrs) Sheela Bhide.who has submitted a declaration that she meets the criteria for independence as provided in Section 149(6) of the Act be and is hereby DSSRLQWHGDVDQ,QGHSHQGHQW'LUHFWRURIWKH&RUSRUDWLRQIRUDWHUPRI¿YHFRQVHFXWLYH\HDUV ZLWKHIIHFWIURPWK$XJXVWXSWRWK$XJXVW´
7RFRQVLGHUDQGLIWKRXJKW¿WWRJLYHDVVHQWRUGLVVHQWWRWKHIROORZLQJUHVROXWLRQDVDQ6SHFLDO Resolution:
“RESOLVED THAT pursuant to the provisions of Sections 196, 197, 203 and any other DSSOLFDEOH SURYLVLRQV RI WKH &RPSDQLHV $FW ³$FW´ DQG WKH UXOHV PDGH WKHUHXQGHU LQFOXGLQJ DQ\ VWDWXWRU\ PRGL¿FDWLRQ V RU UHHQDFWPHQW WKHUHRI UHDG ZLWK 6HFWLRQ ,, RI 3DUW II of Schedule V and subject to the approval of Central Government and such other necessary approval(s), consent(s) or permission(s), as may be required, and in furtherance of the relevant resolution passed at the Annual General Meeting of the Corporation held on August 5,2011 [2011 resolution] consent of the Corporation be and is hereby accorded to pay remuneration to Mr. Ness Wadia[DIN:00036049], Managing Director of the Corporation, with effect from April 1, 2014, on terms and conditions recommended by the Nomination and Remuneration Committee and as set out in the Explanatory Statement annexed to the Notice. for the remaining SHULRG RI KLV WHQXUH LH XSWR 0DUFK SURYLGHG WKH VDLG UHPXQHUDWLRQ LV ZLWKLQ WKH overall limits set out in the 2011 resolution.
“RESOLVED FURTHER that consent of the Corporation is also accorded to pay Mr. Ness Wadia minimum remuneration as approved by the Board on the recommendation of the Nomination and Remuneration Committee within the overall limits of the remuneration as aforesaid for any ¿QDQFLDO\HDUZKHUHWKHUHLVLQDGHTXDF\RUDEVHQFHRISUR¿WVGXULQJWKHSHULRGFRPPHQFLQJ from April 1,2014 until the expiry of his tenure as Managing Director i.e upto March 31,2016.
³5(62/9(')857+(5WKDWVDYHDVDIRUHVDLGDOORWKHUWHUPVDQGFRQGLWLRQVRI0U1HVV:DGLD¶V appointment as Managing Director of the Corporation, as approved by the 2011 resolution shall continue unchanged.
“RESOLVED FURTHER THAT the Board of Directors be and is hereby authorized to take all such VWHSVDVPD\EHQHFHVVDU\SURSHUDQGH[SHGLHQWWRJLYHHIIHFWWRWKLVUHVROXWLRQ´
By Order of the Board,
N. H. DATANWALA Vice President Corporate & Company Secretary Registered Office: 9, Wallace Street, Fort, Mumbai 400 001 Date: 22nd May, 2015
4 Annual Report 2014-2015
NOTES:
1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT ONE OR MORE PROXY/ PROXIES TO ATTEND AND VOTE INSTEAD OF HIMSELF/HERSELF. SUCH A PROXY/ PROXIES NEED NOT BE A MEMBER OF THE CORPORATION..However, a person PD\DFWDVSUR[\RQEHKDOIRIPHPEHUVQRWH[FHHGLQJ¿IW\ DQGKROGLQJLQWKHDJJUHJDWH not more than ten percent(10 %) of the total share capital of the Corporation. In case a proxy is proposed to be appointed by a Member holding more than 10% of the total share capital of the Corporation carrying voting rights. then such proxy shall not act as proxy for any other person or shareholder.
7KHLQVWUXPHQWRISUR[\LQRUGHUWREHHIIHFWLYHVKRXOGEHGHSRVLWHGDWWKH5HJLVWHUHGRI¿FHV of the Corporation, duly completed and signed, not less than forty-eight hours before the commencement of the meeting. A Proxy form is sent herewith. Proxies submitted on behalf of companies, societies etc., must be supported by an appropriate resolution/authority, as applicable.
2. An Explanatory Statement pursuant to Section 102 of the Companies Act, 2013, which sets out the material facts relating to the Special Business set out in the accompanying Notice is attached hereto as Annexure I.
3. A brief resume of Directors proposed to be appointed/re-appointed, nature of their expertise in functional areas, names of companies in which they hold directorships and memberships/ chairmanships of Board Committees, shareholding and relationships between directors inter-se as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges, are attached hereto as Annexure II.
4. The Register of Members and the Share Transfer Books of the Corporation will be closed from Thursday,30th July, 2015 to Wednesday, 5th August, 2015 (both days inclusive).
5. Dividend, if declared at the Annual General Meeting, shall be paid to the members on or after Monday, 10th August, 2015to those members whose names appear on the Register of Members of the Corporation on 29th July,2015. after giving effect to all valid share transfers lodged with WKH&RUSRUDWLRQ¶V5HJLVWUDU 6KDUH7UDQVIHU$JHQWV0V6KDUHSUR6HUYLFHV ,QGLD 3YW/WGRQ or before 29th July, 2015 in respect of shares held in physical form. In respect of shares held LQHOHFWURQLFIRUPGLYLGHQGZLOOEHSDLGRQWRWKHEHQH¿FLDORZQHUVRIVKDUHVDVDWWKHFORVLQJ hours of 29th July,2015 as per details furnished by National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL) for this purpose.
6. Members are requested to notify immediately any change of address to their Depositary 3DUWLFLSDQWV '3V LQ UHVSHFW RI WKHLU GHPDW DFFRXQWV DQG WR WKH &RUSRUDWLRQ¶V 5HJLVWUDU Share Transfer Agents, M/s. Sharepro Services (India) Pvt. Ltd. (Sharepro), at 13AB, Samhita Warehousing Complex, 2nd Floor, Sakinaka Telephone Exchange Lane, Off Andheri Kurla Road, Sakinaka, Andheri (E), Mumbai 400 072, or at 912 Raheja Centre, Free Press Journal Road, Nariman Point, Mumbai 400 021, in respect of their physical shareholdings quoting their folio numbers.
7. In view of the circular issued by SEBI, the Electronic Clearing Services (ECS/NECS) facility should mandatorily be used by Companies for distribution of dividend to its members. In order to avail the facility of ECS/NECS, members holding shares in physical form are requested to provide bank account details to the Corporation or its Registrar and Share Transfer Agents.
Members holding shares in electronic form are hereby informed that bank particulars registered against their respective depository accounts will be used by the Corporation for payment of dividend. The Corporation or its Registrars cannot act on any request received directly from
5 The Bombay Burmah Trading Corporation, Limited
the Members holding shares in electronic form for any change of bank particulars or bank mandates. Such changes are to be advised only to the Depository Participant of the Members.
8. Pursuant to the provisions of Sections 205A and 205C and other applicable provisions of the &RPSDQLHV$FW GLYLGHQGVIRUWKH¿QDQFLDO\HDUHQGHGVW0DUFKDQGWKHUHDIWHU which remain unpaid or unclaimed for a period of 7 years from the respective dates of transfer to the unpaid dividend account of the Corporation are due for transfer to the Investor Education & Protection Fund (IEPF) on the dates given in the table below:
Financial Year Date of Declaration Last date for Due date for of Dividend claiming unpaid transfer to IEPF dividend 2007-2008 30.7.2008 29.7.2015 4.9.2015 2008-2009 28.7.2009 27.7.2016 2.9.2016 2009-2010 10.8.2010 9.8.2017 15.9.2017 2010-2011 5.08.2011 4.8.2018 10.9.2018 2011-2012 8.08.2012 7.8.2019 13.9.2019 2012-2013 7.08.2013 6.8.2020 12.9.2020 2013-2014 13.8.2014 12.8.2021 18.9.2021
Members who have so far not encashed the Dividend Warrants for the above years are advised to submit their claim to the Registrars at either of the aforesaid addresses immediately quoting their folio number/ DP ID & Client ID.
9. Members holding shares in physical form may avail themselves of the facility of nomination in terms of section 72 of the Companies Act,2013 by nominating a person to whom their securities VKDOOYHVWLQWKHHYHQWRIWKHLUGHDWK7KHSUHVFULEHGIRUPPD\EHREWDLQHGIURPWKH&RUSRUDWLRQ¶V 5HJLVWHUHG2I¿FHDW :DOODFH6WUHHW)RUW0XPEDLRUIURPWKH5HJLVWUDUV 10. As part of the Green Initiative in Corporate Governance, the Ministry of Corporate Affairs ³0&$´ *RYHUQPHQWRI,QGLDWKURXJKLWV&LUFXODU1RVDQGGDWHG$SULO DQG$SULO UHVSHFWLYHO\KDVDOORZHGFRPSDQLHVWRVHQGRI¿FLDOGRFXPHQWVWKURXJK electronic mode.
,QWKHVSLULWRIWKHDERYHFLUFXODUVDQGDVSDUWRIWKH&RUSRUDWLRQ¶V*UHHQ,QLWLDWLYHWKH&RUSRUDWLRQ has been sending documents like Notice convening General Meetings, Financial Statements, 'LUHFWRUV¶5HSRUWHWFWRWKHHPDLODGGUHVVSURYLGHGE\WKHPHPEHUV
:HWKHUHIRUHDSSHDOWRWKHPHPEHUVWREHDSDUWRIWKHVDLGµ*UHHQ,QLWLDWLYH¶DQGUHTXHVWWKH members to provide/ update their email addresses giving their Registered Folio Number and/ or DP ID/Client ID to the dedicated email address at [email protected] RU ORJLQ DW 6KDUHSUR¶V ZHEVLWH KWWS ZZZVKDUHSURVHUYLFHVFRP DQG UHJLVWHU WKHLU UHTXHVW Members are also informed that the full text of all Notices, Reports etc. sent by email to them will also be made available on our website http://bbtcl.com/investor-relations/annual-reports/
11. SEBI has also mandated the submission of Permanent Account Number (PAN) by members. Therefore, members holding shares in physical form are requested to submit their PAN to the Corporation or Sharepro and members holding shares in electronic form may submit their PAN to their respective Depository Participants.
12. Members intending to require information about the Financial Statements, to be explained at the Meeting are requested to inform the Corporation at least a week in advance of their intention
6 Annual Report 2014-2015
to do so, so that the papers relating thereto may be made available, if the Chairman permits such information to be furnished. 13. Members/Proxies attending the meeting are requested to complete the enclosed attendance slip and deliver the same at the entrance of the meeting hall. 14. Members are requested to bring their copy of the Annual Report to the meeting. 15. Voting through electronic means: In compliance with provisions of Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014, the Corporation is pleased to provide WKHIDFLOLW\WRH[HUFLVHPHPEHUV¶ULJKWWRYRWHDWWKHWK$QQXDO*HQHUDO0HHWLQJ $*0 E\ electronic means and the business may be transacted through e-Voting Services provided by Central Depository Services (India) Limited (CDSL). The voting period begins on 1.8.2015 at 9:00 am and ends on 4.8.2015 at 5:00 pm. During this period, shareholders of the Corporation, holding shares either in physical form or in dematerialized form, as on the cut-off date 29th July,2015 may cast their vote electronically. The e-voting module shall be disabled by CDSL for voting thereafter. To vote electronically, shareholders are requested to follow the instructions below: In case of members receiving Annual Reports by e-mail: (i) Log on to the e-voting website www.evotingindia.com LL &OLFNRQ³6KDUHKROGHUV´WDE LLL 1RZVHOHFWWKH&RPSDQ\³7+(%20%$<%850$+75$',1*&25325$7,21/,0,7('´ IURPWKHGURSGRZQPHQXDQGFOLFNRQ³68%0,7´ (iv) Now Enter your User ID D )RU&'6/ GLJLWVEHQH¿FLDU\,' b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID, c. Members holding shares in Physical Form should enter Folio Number registered with the Corporation. Y 1H[WHQWHUWKH,PDJH9HUL¿FDWLRQDVGLVSOD\HGDQG&OLFNRQ/RJLQ (vi) If you are holding shares in demat form and had logged on to www.evotingindia.com and voted on an earlier voting of any company, then your existing password is to be used. YLL ,I\RXDUHD¿UVWWLPHXVHUIROORZWKHVWHSVJLYHQEHORZ
For Members holding shares in Demat Form and Physical Form PAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both demat shareholders as well as physical shareholders)
0HPEHUV ZKR KDYH QRW XSGDWHG WKHLU 3$1 ZLWK WKH &RPSDQ\ 'HSRVLWRU\3DUWLFLSDQWDUHUHTXHVWHGWRXVHWKH¿UVWWZROHWWHUVRI their name and the 8 digits of the sequence number in the PAN ¿HOG ,Q FDVH WKH VHTXHQFH QXPEHU LV OHVV WKDQ GLJLWV HQWHU WKH DSSOLFDEOH QXPEHU RI ¶V EHIRUH WKH QXPEHU DIWHU WKH ¿UVW WZR characters of the name in CAPITAL letters. Eg. If your name is Ramesh Kumar with sequence number 1 then enter RA00000001 LQWKH3$1¿HOG
7 The Bombay Burmah Trading Corporation, Limited
DOB Enter the Date of Birth as recorded in your demat account or in the company records for the said demat account or folio in dd/mm/yyyy format. Dividend Bank Enter the Dividend Bank Details as recorded in your demat account or Details in the company records for the said demat account or folio.
3OHDVHHQWHUWKH'2%RU'LYLGHQG%DQN'HWDLOVLQRUGHUWRORJLQ If the details are not recorded with the depository or company please enter the member id / folio number in the Dividend Bank GHWDLOV¿HOG YLLL $IWHUHQWHULQJWKHVHGHWDLOVDSSURSULDWHO\FOLFNRQ³68%0,7´WDE
(ix) Members holding shares in physical form will then reach directly the Company selection screen. However, members holding shares in demat form will now reach ‘Password &UHDWLRQ¶PHQXZKHUHLQWKH\DUHUHTXLUHGWRPDQGDWRULO\HQWHUWKHLUORJLQSDVVZRUGLQ WKHQHZSDVVZRUG¿HOG.LQGO\QRWHWKDWWKLVSDVVZRUGLVWREHDOVRXVHGE\WKHGHPDW holders for voting for resolutions of any other company on which they are eligible to vote, provided that company opts for e-voting through CDSL platform. It is strongly recommended not to share your password with any other person and take utmost care WRNHHS\RXUSDVVZRUGFRQ¿GHQWLDO
(x) For Members holding shares in physical form, the details can be used only for e-voting on the resolutions contained in this Notice.
(xi) Click on the EVSN for the relevant Company “THE BOMBAY BURMAH TRADING &25325$7,21/,0,7('´RQZKLFK\RXFKRRVHWRYRWH
[LL 2QWKHYRWLQJSDJH\RXZLOOVHH³5(62/87,21'(6&5,37,21´DQGDJDLQVWWKHVDPH WKHRSWLRQ³<(612´IRUYRWLQJ6HOHFWWKHRSWLRQ<(6RU12DVGHVLUHG7KHRSWLRQ<(6 implies that you assent to the Resolution and option NO implies that you dissent to the Resolution.
[LLL &OLFNRQWKH³5(62/87,216),/(/,1.´LI\RXZLVKWRYLHZWKHHQWLUH5HVROXWLRQGHWDLOV
[LY $IWHU VHOHFWLQJ WKH UHVROXWLRQ \RX KDYH GHFLGHG WR YRWH RQ FOLFN RQ ³68%0,7´ $ FRQ¿UPDWLRQER[ZLOOEHGLVSOD\HG,I\RXZLVKWRFRQ¿UP\RXUYRWHFOLFNRQ³2.´HOVH WRFKDQJH\RXUYRWHFOLFNRQ³&$1&(/´DQGDFFRUGLQJO\PRGLI\\RXUYRWH
[Y 2QFH\RX³&21),50´\RXUYRWHRQWKHUHVROXWLRQ\RXZLOOQRWEHDOORZHGWRPRGLI\\RXU vote.
[YL (xvii) If Demat account holder has forgotten the changed password then Enter the User ID and WKHLPDJHYHUL¿FDWLRQFRGHDQGFOLFNRQ)RUJRW3DVVZRUG HQWHUWKHGHWDLOVDVSURPSWHG by the system. (xviii) Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) are required to log on to https://www.evotingindia.com and register themselves as Corporates. 7KH\VKRXOGVXEPLWDVFDQQHGFRS\RIWKH5HJLVWUDWLRQ)RUPEHDULQJWKHVWDPSDQG signature of the entity to [email protected]. 8 Annual Report 2014-2015 After receiving the login details they have to create a user who would be able to link the account(s) which they wish to vote on. 7KH OLVW RI DFFRXQWV VKRXOG EH PDLOHG WR KHOSGHVNHYRWLQJ#FGVOLQGLDFRP DQG RQ approval of the accounts they would be able to cast their vote. 7KH\VKRXOGXSORDGDVFDQQHGFRS\RIWKH%RDUG5HVROXWLRQDQG3RZHURI$WWRUQH\ (POA) which they have issued in favour of the Custodian, if any, in PDF format in the system for the scrutinizer to verify the same. In case of members receiving the physical copy: (A) Please follow all steps from sl. no. (i) to sl. no. (xvii) above to cast vote. (B) The voting period begins on 1st August,2015 at 9.00 am and ends on 4th August,2015 at 5.00 pm. During this period shareholders of the Corporation. holding shares either in physical form or in dematerialized form, as on the cut-off date (record date) of 29th July,2015, may cast their vote electronically. The e-voting module shall be disabled by CDSL for voting thereafter. (xix) In case you have any queries or issues regarding e-voting, you may refer the Frequently $VNHG 4XHVWLRQV ³)$4V´ DQG HYRWLQJ PDQXDO DYDLODEOH DW ZZZHYRWLQJLQGLDFRP under help section or write an email to [email protected]. IMPORTANT NOTES : 1. Any person, who acquires shares of the Corporation and becomes member of the Corporation after 3rd July, 2015 ie. the date considered for dispatch of the notice and holding shares as the cut - off date ie. 29th July, 2015 and who have not updated their PAN as also members who have not received the intimation of sequence number may obtain the login ID and sequence number by sending a request to Sharepro Services (India) Private Limited at [email protected] 2. The Chairman shall, at the AGM. at the end of discussion on the resolutions on which YRWLQJLVWREHKHOGDOORZYRWLQJZLWKWKHDVVLVWDQFHRIVFUXWLQL]HUE\XVHRI³HYRWLQJ´ RU³%DOORW3DSHU´IRUDOOWKRVHPHPEHUVZKRDUHSUHVHQWDWWKH$*0EXWKDYHQRWFDVW their votes by availing the remote e-voting facility / ballot form.The Facility for Voting DWPHHWLQJYHQXHVKDOOEHGHFLGHGE\WKH&RUSRUDWLRQLH³HYRWLQJ´RU³%DOORW3DSHU´ 3. The members who have cast their vote by remote e-voting prior to the AGM may also attend the AGM but shall not be entitled to cast their vote again. 16. Mr Tushar Shridharani, Practicing Company Secretary, (Membership No. FCS 2690)) has been appointed as the Scrutinizer to scrutinize the e-voting process in a fair and transparent manner. 17. The Scrutinizer shall within a period not exceeding three (3) working days from the conclusion of the e-voting period unblock the votes in the presence of at least two (2) witnesses not in the HPSOR\PHQWRIWKH&RUSRUDWLRQDQGPDNHD6FUXWLQL]HU¶V5HSRUWRIWKHYRWHVFDVWLQIDYRXURU against, if any, forthwith to the Chairman of the Corporation. 7KH5HVXOWVGHFODUHGDORQJZLWKWKH6FUXWLQL]HU¶V5HSRUWVKDOOEHSODFHGRQWKH&RUSRUDWLRQ¶V website www.bbtcl.com and on the website of CDSL within three (3) days of passing of the resolutions at the AGM of the Corporation and communicated to NSE and BSE Limited. 19. MEMBERS HOLDING EQUITY SHARES IN ELECTRONIC FORM, AND PROXIES THEREOF, ARE REQUESTED TO BRING THEIR DP ID AND CLIENT ID FOR IDENTIFICATION. 9 The Bombay Burmah Trading Corporation, Limited ANNEXURE I TO THE NOTICE EXPLANATORY STATEMENT IN RESPECT OF THE SPECIAL BUSINESS PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013 Item No. 6 The Board of Directors on the recommendation of the Audit Committee have approved the appointment of M/s. GLS &Associates, Cost & Management Accountants, Mumbai, (ICWA Registration No. 4482 ) as Cost Auditors at a remuneration of ` 2,00,000/- (Rupees Two lakh only) plus applicable service tax and reimbursement of travelling and out of pocket expenses incurred by WKHPIRUWKHSXUSRVHRIDXGLWIRUWKH¿QDQFLDO\HDU$&HUWL¿FDWHLVVXHGE\WKHDERYH¿UP regarding their eligibility for appointment as Cost Auditors will be available for inspection at the 5HJLVWHUHGRI¿FHRIWKH&RUSRUDWLRQGXULQJ$0WR30RQDOOZRUNLQJGD\V The approval of the shareholders is required to be obtained for payment of remuneration to the &RVW$XGLWRUVIRUWKH¿QDQFLDO\HDUHQGLQJVW0DUFK+HQFHWKHUHVROXWLRQLQ,WHPQRRI the Notice. The Board of Directors recommends the said resolution for approval by the shareholders. Item no. 7 Dr. (Mrs.) Sheela Bhide was appointed as an Additional Director of the Corporation with effect from WK0DUFK$VVXFKVKHKROGVRI¿FHXSWRWKHGDWHRIWKHHQVXLQJ$QQXDO*HQHUDO0HHWLQJ The Corporation has received a notice in writing from a member alongwith the deposit of requisite amount under Section 160 of the Act proposing the candidature Dr. (Mrs.) Sheela Bhide for the RI¿FH RI 'LUHFWRU RI WKH &RUSRUDWLRQ 7KH &RUSRUDWLRQ KDV DOVR UHFHLYHG WKH GHFODUDWLRQ IURP Dr. Bhide that she meets with the criteria of independence as prescribed both under sub-section (6) of Section 149 of the Act and Clause 49 of the Listing Agreement. The Nomination and Remuneration Committee of the Board has recommended the appointment of Dr. (Mrs.) Sheela Bhide as an Independent Director under the Act and Clause 49 of the Listing $JUHHPHQW LQFOXGLQJDQ\VWDWXWRU\PRGL¿FDWLRQ V RUUHHQDFWPHQWWKHUHRI WRKROGRI¿FHIRUD WHUPRIIRU ¿YH FRQVHFXWLYH\HDUVIURPWK$XJXVWXSWRWK$XJXVW 'U%KLGHLVQRWGLVTXDOL¿HGIURPEHLQJDSSRLQWHGDV'LUHFWRULQWHUPVRI6HFWLRQRIWKH$FW and has given her consent to act as Director of the Corporation. Dr. Bhide is independent of the management of the Corporation. ,QWKHRSLQLRQRIWKH%RDUG'U6KHHOD%KLGHIXO¿OOVWKHFRQGLWLRQVIRUDSSRLQWPHQWDV,QGHSHQGHQW 'LUHFWRUDVVSHFL¿HGLQWKH$FWDQGWKH/LVWLQJ$JUHHPHQW A brief resume of Dr. (Mrs.) Sheela Bhide, nature of her expertise in functional areas and names of companies in which she holds directorships and memberships/chairmanships of Board Committees, shareholding and relationships between directors inter-se as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges, are provided in the Annexure II to the Notice. A copy of the draft letter of appointment of Dr. (Mrs.) Sheela Bhide as Independent Director setting out the terms and conditions of her appointment is available for inspection by members at the 5HJLVWHUHG2I¿FHRIWKH&RUSRUDWLRQ 10 Annual Report 2014-2015 Dr. (Mrs.) Sheela Bhide, is interested in the resolution set out at Item No. 7 of the Notice since it relates to her appointment as a Director of the Corporation and an Independent Director respectively, as stated therein. Item no. 8 The members of the Corporation had, at the Annual General Meeting held on August 5, 2011, approved the appointment of, and remuneration payable to, Mr. Ness Wadia as Managing Director of the Corporation for a period of 5 years with effect from April 1, 2011 including approval for payment of such remuneration to him as Minimum Remuneration which may be paid to him in the FDVHRILQDGHTXDF\RUDEVHQFHRISUR¿WV Considering that there has been a change in law and the relevant provisions of the Companies $FWKDYHEHHQQRWL¿HGWREHLQHIIHFWIURPVW$SULOWKH&RPSDQ\LVQRZGHVLURXVRI seeking approval of the shareholders to pay remuneration to Mr. Ness Wadia on the same terms and conditions as earlier approved by the shareholders on 5th August, 2011 for the remaining term of his appointment as follows: (a) Basic Salary upto a maximum of ` 35,00,000/- per month with increments each year, as may be GHWHUPLQHGE\WKH%RDUGEDVHGRQPHULWDQGWDNLQJLQWRDFFRXQWWKH&RUSRUDWLRQ¶VSHUIRUPDQFH for the year. E %HQH¿WVSHUTXLVLWHVDQGDOORZDQFHVDVPD\EHGHWHUPLQHGE\WKH%RDUGIURPWLPHWRWLPH or as may be applicable in accordance with the rules and policies of the Corporation, upto a maximum of ` 17,50,000/- per month. (c) Reimbursement of actual medical expenses incurred on self and family. (d) Bonus as may be determined by the Board, based on performance criteria. (e) The contribution to Provident Fund, Superannuation Fund or Gratuity Fund as per the Rules of the Corporation. (f) Reimbursement of all reasonable expenses including travelling, entertainment / business promotion and other out-of-pocket expenses incurred by him in connection with or in relation with the business of the Corporation, in accordance with the Corporation‘s policy in force from time to time and encashment of leave in accordance with the Corporation‘s policy. 7KH&RPSDQLHV$FWVSHFL¿HVWKHUHYLVHGOLPLWVIRUUHPXQHUDWLRQZKLFKFDQEHSDLGWRWKH PDQDJHULDOSHUVRQQHORIWKH&RPSDQ\LQFDVHRILQDGHTXDF\RUDEVHQFHRISUR¿WV,WLVWKHUHIRUH proposed to obtain afresh approval of the shareholders for payment of minimum remuneration as mentioned hereunder, to Mr. Ness Wadia, from April 1, 2014 upto the expiry of his term as Managing Director i.e. March 31, 2016. The Corporation has applied to the Central Government for approval of payment of remuneration of ` 340.88 Lakhs to Mr Ness Wadia for the FY 2014-15. The remuneration of Mr Ness Wadia for the years 2014-15 and 2015-16 approved by the Nomination and Remuneration Committee and the Board at their meetings held on May 27, 2014 and May 22, 2015 respectively is within the overall limits of remuneration approved by the shareholders on 5th August, 2011. Mr. Ness Wadia is interested in the Special resolution at Item no. 8 of the Notice since it relates to the remuneration payable to him as Managing Director . Mr. Nusli N. Wadia and Mr. Jeh Wadia, are also interested in the said Special Resolution being the father and brother respectively of Mr. Ness Wadia. Additional Information as required under Section II of Part II of Schedule V of the Companies Act, 2013 is given below: I. General Information: (i) Nature of Industry: The Corporation is a multi-product and multi divisional organisation with 11 The Bombay Burmah Trading Corporation, Limited diverse business interests viz. Plantations, Auto Ancillary products, healthcare, real estate and weighing products. (ii) Date or expected date of commencement of commercial production: The Corporation was incorporated on 4th September, 1863 and commercial production commenced about 150 years ago. (iii) In case of new companies, expected date of commencement of activities as per project DSSURYHGE\¿QDQFLDOLQVWLWXWLRQVDSSHDULQJLQWKHSURVSHFWXV 1RW$SSOLFDEOH LY )LQDQFLDOSHUIRUPDQFHEDVHGRQJLYHQLQGLFDWRUV $VSHUSXEOLVKHGDXGLWHG¿QDQFLDOUHVXOWV for the year ended 31st March, 2015- Particulars Stand Alone (` in Lakhs) Turnover & Other Income 27,631.54 3UR¿WDIWHUWD[ 702.95 Net Worth (share capital + reserves other than revaluation reserve) 25,361.26 (v) Export performance and net foreign exchange collaborations :The Corporation is a net IRUHLJQH[FKDQJHHDUQHU7KHWRWDOLQÀRZVLQIRUHLJQH[FKDQJHIRUWKH)<ZDV ` ODNKVDVFRPSDUHGWRWKHIRUHLJQH[FKDQJHRXWÀRZVRI` 983.43 lakhs. Further, dividend of ` 1586.78 lakhs is receivable from its overseas subsidiary. (vi) Foreign investments or collaborations, if any: The Corporation has substantial interests outside India in form of investments in/by its foreign subsidiaries as the Corporation owns DQG RSHUDWHV WHD HVWDWHV LQ 7DQ]DQLD%HVLGHV WKLV WKH &RUSRUDWLRQ¶V VXEVLGLDU\ LQ Singapore is engaged in the activities of horticulture, landscaping and decorative plants and another subsidiary in USA is engaged in specialty tea. II. Information about the appointee: (i) Background details: Mr. Wadia, 44, is M.Sc in Engineering Business Management (Warwick University, UK). He had received extensive training in management at the Warwick University, UK. 0U :DGLD KDV PRUH WKDQ \HDUV RI H[SHULHQFH LQ WKH ¿HOGV RI RYHUDOO JHQHUDO management to run business Units. He holds directorships in various leading companies in India such as Bombay Dyeing and Manufacturing Company Ltd., Britannia Industries Ltd., National Peroxide Ltd. and Wadia Techno-Engineering Services Ltd. (ii) Past Remuneration: FINANCIAL YEAR AMOUNT (` in lakhs) 2011-12 190.03 2012-13 190.03 2013-14 243.52 2014-15 (Proposed) 340.88 (iii) Recognition or Awards: Mr. Wadia was awarded Rotary Medal of Honour for Bravery (1980-81). LY -RE3UR¿OHDQGVXLWDELOLW\ Mr. Wadia is a part of the Senior Management responsible for the operations and affairs 12 Annual Report 2014-2015 of the Corporation. He has been actively involved with the various businesses of the Wadia group in general and in particular, with the day to day business affairs of the Corporation for the past four years . Mr. Wadia was earlier the Joint Managing Director of Bombay Dyeing & Manufacturing Company Limited for more than seven years. Mr. Wadia has played an important role in restructuring and consolidating the operations RIWKH&RUSRUDWLRQDQGLVQRZOHDGLQJWKH&RUSRUDWLRQ¶VH[SDQVLRQSURject spanning its FRUHDUHDRIEXVLQHVVYL]3ODQWDWLRQVDQGWKH&RUSRUDWLRQ¶VGLYHUVL¿FDWLRQLQWRUHWDLODQG hospitality industries. (v) Remuneration proposed : as mentioned in the Explanatory Statement. YL &RPSDUDWLYHUHPXQHUDWLRQSUR¿OHZLWKUHVSHFWWRLQGXVWU\VL]HRIWKH&RPSDQ\SUR¿OH of the position and person (in case of expatriates the relevant details would be with respect to the country of his origin): 7DNLQJLQWRFRQVLGHUDWLRQWKHVL]HRIWKH&RUSRUDWLRQWKHSUR¿OHRIWKHDSSRLQWHHVWKH responsibilities shouldered by him and the industry benchmarks, the remuneration paid/ proposed to be paid to Mr. Wadia is commensurate with the remuneration package paid to similar senior level appointees in other companies. (vii) Pecuniary relationship directly or indirectly with the Corporation or relationship with the managerial personnel, if any: Mr. Wadia does not, directly or indirectly have any other material pecuniary relationship with the Corporation, except to the extent of his remuneration and shareholding in the Corporation. (viii) Mr. Ness Wadia holds 5000 shares in the Corporation. III. Other Information: L 5HDVRQVIRUDEVHQFHRULQDGHTXDWHSUR¿WV Adverse weather conditions, increase in wages and rising fuel costs resulted in increased cost of production of Tea. Further, the sales realisation for Tea declined due to adverse market conditions in the domestic and international markets. Continued volatility in coffee prices world-wide affected margins and although volumes were higher, sales realization reduced E\DERXW The slow down in the auto industry resulted in the Auto ancillary Division not being able to achieve its targeted growth rate. The proposed schedule of unlocking value of land parcels could not be achieved due to sluggish market conditions in the real estate sector due to politico-economic conditions. New projects aimed at reducing energy consumption, increasing Tea yield, lowering overall costs of production were undertaken during the year which required large outlay of funds UHVXOWLQJ LQ LQFUHDVHG ¿QDQFH FRVWV 7KHVH FRVWV DORQJ ZLWK UHWXUQ RI FDSLWDO HPSOR\HG would be realisable only in the medium term due to the long gestation periods involved. (ii) Steps taken or proposed to be taken for improvement: 9DULRXV VWHSV DUH EHLQJ WDNHQ WR LPSURYH WR WHD \LHOGV ERXJKWOHDI DQG ERXJKWEHDQ operations are being enhanced and there are plans to launch in-house retail brand of PDLQVWUHDPDQGVSHFLDOLW\WHDLQ,QGLD The Auto Ancillary Division is entering into engineering services, developing new products DQGORRNLQJRXWIRUVWUDWHJLFDOOLDQFHVLQRUGHUWRLPSURYHYROXPHVDQGSUR¿WDELOLW\ The healthcare Division is in the process of introducing new product and product mixes to ensure higher volumes in manufactured and traded products. 13 The Bombay Burmah Trading Corporation, Limited ANNEXURE II TO THE NOTICE Brief resume of Directors proposed to be appointed/ re-appointed as Directors 1. Mr. Nusli Wadia (Item no. 3) Mr. Nusli N. Wadia: Mr.Nusli Wadia, is a well-known Indian industrialist heading the Wadia Group of companies besides being a director on the Board of several Indian and foreign companies. He joined the Corporation as director in October,1980 and has been the Chairman of the Corporation since 27th July, 1982. Having extensive experience and expertise in general business management DQG¿QDQFH0U:DGLDKDVFRQWULEXWHGDFWLYHO\LQWKHGHOLEHUDWLRQVRIYDULRXVRUJDQL]DWLRQVOLNH Cotton Textiles Export Promotion Council (TEXPROCIL), Associated Chambers of Commerce DQG ,QGXVWU\ RI ,QGLD 0LOO 2ZQHUV¶ $VVRFLDWLRQ 02$ HWF +H LV WKH IRUPHU &KDLUPDQ RI 7(;352&,/DQGDOVRRI02$+HZDVRQWKH3ULPH0LQLVWHU¶V&RXQFLORQ7UDGHDQG,QGXVWU\ during the period 1998 to 2004. He was the Convenor of the Special Group Task Force on Food DQG $JUR ,QGXVWULHV¶ 0DQDJHPHQW 3ROLF\ LQ 6HSWHPEHU +H ZDV DOVR D 0HPEHU RI WKH Special Subject Group to review regulations & procedures to unshackle Indian Industry and on the Special Subject Group on Disinvestment. He was a member of the ICMF from 1984- 85 to 1990-91 and is a Trustee of the Executive Committee of the prestigious Nehru Centre. Mr. NusliWadia has a distinct presence in public affairs and has been actively associated with leading charitable and educational institutions. Mr. Wadia holds over eight percent shares in the capital of the Corporation and his other directorships include The Bombay Dyeing & Manufacturing Co. Ltd. (Chairman), Britannia Industries Ltd. (Chairman), Wadia Techno Engineering Services Limited, Tata Steel Ltd., Tata Chemicals Ltd., Tata Motors Ltd. besides directorship in 7 foreign companies and 2 private companies. He is also on the Nomination & Remuneration Committee of The Bombay Dyeing & Manufacturing Co. Ltd., Britannia Industries Ltd., Tata Steel Ltd, Tata Chemicals Ltd. (Chairman) and Tata Motors Ltd. (Chairman). 2. Dr. (Mrs) Sheela Bhide (Item no. 7) Dr. (Mrs.) Sheela Bhide, 66, has been in the cadre of Indian Administrative Service, Andhra Pradesh - 1973 batch, retired from services in June 2009. Prior to her retirement, she was the Chairman & Managing Director of India Trade Promotion Organization, Ministry of Commerce and Industry, Government of India. She also has held several key positions with the Govt. of India and the State Govt. of Andhra Pradesh. Dr. Bhide is an MBA with specialization in Financial Management, PhD in International Trade and M. A. in Economics besides aMasters in Public Administration. She has written several articles in various business magazines and newspapers. 'U %KLGH KDV EHHQ WKH UHFLSLHQW RI +RQRXUV DQG DZDUGV YL] 3ULPH 0LQLVWHU¶V $ZDUG IRU Excellence in Public Administration, Govt. of India (2007-08), National Award for e-Governance IRUµ([FHOOHQFHLQ3URFHVV5HHQJLQHHULQJ¶*RYWRI,QGLD DQGRWKHUV 14 Annual Report 2014-2015 Other Directorships: The Bombay Dyeing & Manufacturing Company Limited, L & T Metro Rail (Hyderabad) Ltd., Gati Ltd., Rane Holdings Ltd. Suryoday Micro Finance Pvt. Ltd., Gati-Kintetsu World Express. Committee Membership : Audit Committee & Nomination & Remuneration Committee of the Boards of L & T Metro Rail (Hyderabad) Ltd., Suryoday Micro Finance Pvt. Ltd. and Gati-Kintetsu World Express. By Order of the Board N. H. DATANWALA Vice President Corporate & Company Secretary Registered Office: 9, Wallace Street, Fort, Mumbai 400 001 Dated, the 22nd May, 2015. 15 The Bombay Burmah Trading Corporation, Limited DIRECTORS’ REPORT Your Directors hereby present their Annual Report together with Audited Financial Statements for the year ended 31st March, 2015: 1. Financial Results: 2014-2015 2013-2014 ` in lakhs ` in lakhs 3UR¿WEHIRUHGHSUHFLDWLRQ¿QDQFH FRVWVH[FHSWLRQDOLWHPVDQGWD[ 4383.98 3,633.52 Less : Finance costs 2694.45 2,151.01 Less : Depreciation 686.84 759.54 3UR¿WEHIRUH7D[ 1002.69 722.97 /HVV 3URYLVLRQIRU7D[DWLRQ 299.75 210.18 3UR¿WIRUWKH\HDU 702.94 512.79 $GG %DODQFHLQ6WDWHPHQWRI3UR¿WDQG/RVV 16848.19 17,203.00 Amount available for Appropriation 17551.13 17,715.79 Appropriations : Proposed Dividend 697.72 697.72 &RUSRUDWH'LYLGHQG7D[WKHUHRQ - 118.58 Transfer to General Reserve - 51.30 Closing Balance carried to Balance Sheet 16853.41 16,848.19 The Corporation achieved a gross income of to ` 9,655 lakhs in the previous year. ` 27,622 lakhs compared to ` 29,146 lakhs in The drop in production was due to 2013-2014 which represents a decrease of inclement weather conditions and DERXWRYHUWKHSUHYLRXV\HDU7KHSUR¿W lower availability of quality green of the Corporation was adversely impacted leaf. The decrease in tea prices was due to under performance of the Tea business. on account of higher supplies of tea However, dividend income from an overseas from Assam & North Bengal which subsidiary enabled the Corporation to achieve put pressure on the prices of South SUR¿WEHIRUHWD[RI` 1003 lakhs as against ` 723 India tea. Lower volumes and prices lakhs in the previous year. resulted in overall losses for tea business. 2. Divisionwise Performance ii) Coffee – (a) South India Estates: Production during the year was 1,503 i) Tea - tonnes compared to 1,303 tonnes in Production of Tea, including from the previous year. Sales turnover ` Bought Leaf, for the year was was lower at 2,870 lakhs as against ` lower at 72.02 lakh kgs as against 4,191 lakhs in previous year and 82.75 lakh kgs in the previous year. sales volume was at 1,022 tonnes The sales volume was 72.57 lakh as against 2,247 tonnes in the kgs as against 79.24 lakh kgs for previous year. However, higher the previous year. The average sales realisation per tonne of coffee selling price realized per kg was during the year contributed to higher lower at ` 112.41 per kg as against SUR¿WDELOLW\GHVSLWHORZHUWXUQRYHU ` 117.71 per kg. in the previous year With a view to promote green Consequently, turnover of Tea was environment and to generate lower at ` 8,623 lakhs as compared revenue from energy & gas recovery, 16 Annual Report 2014-2015 the Corporation, in partnership with compared with ` 719,997 lakhs in 2013- a leading Energy Consultant, has 2014 , a growth of 12.82 %. Consolidated developed Waste Treatment Plant 1HW 3UR¿W IRU WKH \HDU HQGHG VW 0DUFK at Coffee Estate & commissioned 2015 was ` 35,687 lakhs compared with Bio-Methanization Plant and Waste ` 20,711 lakhs in the previous year, a growth Water Recovery System. Trials for of 72.30 %. Gas production & Water recovery are currently in progress. 7KHVXPPDUL]HGFRQVROLGDWHG¿QDQFLDOUHVXOWV are as under: (b) Tanzanian Estates: (` in lakhs) The crop for the year under review at Particulars FY 2014- FY 2013- ` 5.67 lakh kgs was lower than the 8.02 lakh 2015 2014 kgs. achieved in 2013-14. Sales were at ` 446 lakhs compared to ` 645 lakhs Sale of Products 812,318.27 719,997.42 in the previous year. As a result, the Sale of Service 20.56 25.04 working of the Division was adversely Other Operating 7,331.73 7,093.40 impacted. Revenues (c) Electromags Division: Other income 15,549.72 8,778.75 The turnover for the year was lower at 3UR¿W EHIRUH 86,075.29 62,231.06 ` 10,171 lakhs as against ` 11,177 lakhs ¿QDQFH FRVWV in 2013-14 due to lower volumes and H[FHSWLRQDO LWHPV DQGWD[ pressure on prices . Finance costs 4,065.78 4,316.80 (d) Healthcare Division: ([FHSWLRQDO,WHPV 14,606.00 - Healthcare Division performed 3UR¿W%HIRUH7D[ 96,075.51 57,914.26 satisfactorily and reported marginally 35,687.29 20,711.28 higher turnover at ` 2,190 lakhs 3UR¿W$IWHU7D[ compared to ` 2,133 lakhs of previous Subsidiaries and Associate Companies: \HDU3UR¿WPDUJLQVKDYHLPSURYHGGXH WR SURGXFW PL[ DQG ORZHU UDZ PDWHULDO Pursuant to the provisions of Section 129(3) cost. of the Companies Act, 2013, the Statement 3. Consolidated Financial Results FRQWDLQLQJWKHVDOLHQWIHDWXUHVRIWKH¿QDQFLDO statements of the Corporation’s subsidiaries The Corporation has prepared Consolidated and associates , the accounts of which have Financial Statements in accordance with been consolidated with that of the Corporation, the applicable Accounting Standards as IRUPV SDUW RI WKH FRQVROLGDWHG ¿QDQFLDO prescribed under the Companies (Accounts) statements. The Statement also provides the Rules, 2014 of the Companies Act, 2013. The &RQVROLGDWHG )LQDQFLDO 6WDWHPHQWV UHÀHFW GHWDLOV RI SHUIRUPDQFH DQG ¿QDQFLDO SRVLWLRQ the results of the Corporation and those of of each of the subsidiaries/associates. The its subsidiaries and associates. As required Corporation has only one material listed Indian by Clause 32 of the Listing Agreement subsidiary, viz. Britannia Industries Limited . HQWHUHGLQWRZLWKWKH6WRFN([FKDQJHVWKH In accordance with Section 136 of the Audited Consolidated Financial Statements &RPSDQLHV $FW WKH DXGLWHG ¿QDQFLDO together with the Independent Auditors’ statements of the Corporation including 5HSRUWWKHUHRQDUHDQQH[HGDQGIRUPSDUW WKH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV DQG of this Annual Report. the audited accounts of each subsidiary, Consolidated sale of products and services are available on the Corporation’s website of the Corporation for the year ended (http://bbtcl.com/investor-relations/annual- 31st March, 2015 was ` 812,318 lakhs as reports/) 17 The Bombay Burmah Trading Corporation, Limited Inor Medical Products Ltd. ceased to be an EHVWRIWKHLUNQRZOHGJHDQGDELOLW\FRQ¿UP Associate of the Corporation with effect that: from 30th September, 2014 on account of i) in the preparation of the annual disinvestment of part of holdings by Seawind Investment & Trading Company Limited, a accounts, the applicable accounting wholly owned subsidiary of the Corporation. standards have been followed along ZLWK SURSHU H[SODQDWLRQ UHODWLQJ WR Harvard Plantations Ltd. and Placid Plantations material departures; Ltd. became Associates of the Corporation with effect from 30th March, 2015 on acquisition of ii) the Directors have selected such 50% equity shares in each of these companies accounting policies and applied them by Seawind Investment & Trading Company consistently and made judgments Limited. and estimates that are reasonable and prudent so as to give a true and fair view 4. Dividend of the state of affairs of the Corporation Your Directors are pleased to recommend DWWKHHQGRIWKH¿QDQFLDO\HDUDQGRIWKH payment of dividend @ 50% i.e ` 1/- per SUR¿WRIWKH&RUSRUDWLRQIRUWKDWSHULRG share of ` 2/- each (Previous year ` 1.00 iii) the Directors have taken proper and per share). The dividend, if approved by the shareholders at the Annual General VXI¿FLHQW FDUH IRU WKH PDLQWHQDQFH of adequate accounting records in Meeting, will be paid to those shareholders whose names appear on the Register of accordance with the provisions of the Members of the Corporation at the close of Act for safeguarding the assets of the business on 29th July, 2015. Corporation and for preventing and detecting fraud and other irregularities; 5. Adequacy Of Internal Financial Controls iv) the Directors have prepared the annual The Corporation has in place adequate accounts on a going concern basis; LQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWR ¿QDQFLDOVWDWHPHQWV7KHVHLQWHUQDO¿QDQFLDO v) the Directors have laid down internal control systems are commensurate with the ¿QDQFLDO FRQWUROV WR EH IROORZHG E\ QDWXUHVL]HDQGFRPSOH[LW\RILWVEXVLQHVV the Corporation and that such internal DQG HQVXUH RUGHUO\ DQG HI¿FLHQW FRQGXFW ¿QDQFLDOFRQWUROVDUHDGHTXDWHDQGZHUH of its business including adherence to the operating effectively; and Corporation’s policies, safeguarding of vi) the Directors have devised proper its assets, maintaining proper accounting systems to ensure compliance with the UHFRUGV DQG SURYLGLQJ UHOLDEOH ¿QDQFLDO provisions of all applicable laws and information. that such systems were adequate and The details on the adequacy and operating effectively. effectiveness of Internal Financial Controls are provided in the Management Discussion Based on the framework of internal and Analysis Report. ¿QDQFLDO FRQWUROV DQG FRPSOLDQFH systems established and maintained by 6. Risk Management Policy the Corporation , reports of the internal, The Corporation has formulated a Risk statutory, cost and secretarial auditors Management Policy. The details of the Risk duly reviewed by the management Management functions are covered in the and the Board including the Audit Corporate Governance Report. Committee, the Board is of the opinion WKDW WKH &RUSRUDWLRQ¶V LQWHUQDO ¿QDQFLDO 7. Directors’ Responsibility Statement controls were adequate and operating Pursuant to Section 134(5) of the Companies HIIHFWLYHO\ GXULQJ WKH ¿QDQFLDO \HDU Act, 2013 (“the Act”), the Directors, to the 2014-15. 18 Annual Report 2014-2015 8. Management Discussion & Analysis of Section 186 of the Companies Act, 2013 are given in Note nos. 12,13 and 18 forming In terms of the provisions of Clause 49 of part of the Financial Statements for the year the Listing Agreement, the Management 2014-2015. Discussion & Analysis forms part of the Annual Report. 12. Directors 9. Conservation of Energy, Technology During the year under review, Ms. Vinita Absorption and Foreign Exchange Earnings Bali, Mr. P. K. Cassels and Mr. B. N. B. Tao, and Outgo resigned as Directors of the Corporation. The Board places on record its appreciation Information pertaining to conservation of the services rendered by Ms. Bali, of energy, technology absorption and Mr. Cassels and Mr. Tao during their tenure IRUHLJQ H[FKDQJH HDUQLQJV DQG RXWJR LQ as Directors of the Corporation. accordance with the provisions of clause (m) of sub-section (3) of Section 134 of the Mr. A. K. Hirjee, Mr. M. L. Apte and Mr. Companies Act, 2013, read with Rule 8(3) of D. E. Udwadia who were appointed as The Companies (Accounts) Rules, 2014 is Independent Directors at the Annual appended as Annexure A to this Report. General Meeting of the Corporation held on $XJXVWIRUDWHUPRI¿YH\HDUVXSWR 10. Related Party Transactions $XJXVW FRQWLQXHWRKROGRI¿FHDV The Corporation has formulated a Policy Independent Directors of the Corporation. on Related Party Transactions which is Dr. (Mrs.) Sheela Bhide was appointed as disclosed on its website (http://bbtcl.com/ Additional Director with effect from 28th related-party-transaction-policy/) March, 2015. The Corporation has received All transactions entered into with related notice in writing from a Member proposing SDUWLHVDVGH¿QHGXQGHUWKH&RPSDQLHV$FW KHUFDQGLGDWXUHWRWKHRI¿FHRI'LUHFWRURI 2013 and Clause 49 of the Listing Agreement the Corporation. The Board recommends during the year under review were in the her appointment as Independent Director of ordinary course of business and on an WKH&RUSRUDWLRQIRUDWHUPRI¿YH\HDUVZLWK arms’ length basis and did not attract the effect from 5th August, 2015. provisions of Section 188 of the Companies In accordance with the provisions of Act, 2013. With regard to transactions with Section 152 of the Companies Act, 2013 Related parties under the provisions of (‘the Act’) and the Articles of Association Clause 49 of the Listing Agreement, prior of the Corporation, Mr. Nusli Wadia, retires approval of the Audit Committee was by rotation at the ensuing Annual General obtained wherever required. Meeting and being eligible, offers himself During the year under review, the for reappointment. Corporation had not entered into any Necessary resolutions for the appointment contract/ arrangement /transactions with of Dr. (Mrs.) Sheela Bhide and reappointment related parties which could be considered of Mr. Nusli Wadia have been included in as material. the Notice convening the ensuing Annual Disclosures pertaining to transactions with General Meeting and requisite details have related parties are given in Note no. 34 of EHHQSURYLGHGLQWKH([SODQDWRU\6WDWHPHQW the Notes forming part of the Financial to the Notice under Section 102 of the Act. Statements for the year 2014-2015. Declaration by Independent Directors: 11. Particulars of Loans, Guarantees or The Corporation has received necessary Investments declaration from each Independent Director The details of Loans, Guarantees and under Section 149(7) of the Companies Investments covered under the provisions Act, 2013 , that he/ she meets the criteria 19 The Bombay Burmah Trading Corporation, Limited of independence laid down in Section 149 members at every Annual General Meeting. (6) of the Act and Clause 49 of the Listing M/s. B S R & Co., LLP have submitted a Agreement. written consent that they are eligible to KROG RI¿FH DV 6WDWXWRU\ $XGLWRUV RI WKH Board Meetings : Corporation in terms of Section 139 of the 'XULQJWKH\HDU¿YH%RDUG0HHWLQJVZHUH Act and that they also satisfy the criteria duly convened and held, the details of which provided in Section 141 of the Act.Their are given in the Corporate Governance DSSRLQWPHQWZLOOEHUHTXLUHGWREHUDWL¿HG Report that forms part of this Annual Report. by the Members at the ensuing Annual The intervening gap between any two General Meeting. meetings was within the period prescribed M/s. Deloitte, Haskins & Sells, Chennai under the Companies Act, 2013. (Deloitte), Branch Auditors of the 13. Key Managerial Personnel Corporation for audit of accounts of branches of the Corporation in South India, Mr. J. S. Gadgil, stepped down as Chief were appointed for a period of three years )LQDQFLDO 2I¿FHU RI WKH &RUSRUDWLRQ ZLWK at the Annual General Meeting held on 13th effect from 28th March, 2015. $XJXVWVXEMHFWWRUDWL¿FDWLRQE\WKH members at every Annual General Meeting. 14. Board Evaluation Deloitte have advised that they do not wish Pursuant to the provisions of the Companies to continue as the Corporation’s Branch Act, 2013, and Clause 49 of the Listing Auditors. It is proposed that M/s BSR & Co. Agreements, the Board carried out an LLP, the Statutory Auditors, carry out the annual performance evaluation of its own audit of South India branches and therefore performance and that of its Committees WKHYDFDQF\DULVLQJQHHGQRWEH¿OOHGXS viz. Audit Committee, Stakeholders‘ 17. Cost Audit Relationship Committee and Nomination and Remuneration Committee, and of the Pursuant to the provisions of Section 148 individual Directors. The manner in which of the Companies Act, 2013 (“the Act”) the evaluation has been carried out has been read with the relevant Rules, the Board of Directors on the recommendation of H[SODLQHG LQ WKH &RUSRUDWH *RYHUQDQFH Audit Committee, appointed M/s GLS & Report. Associates, (GLS) as Cost Auditors of the 15. Nomination and Remuneration Policy &RUSRUDWLRQ IRU WKH ¿QDQFLDO \HDU 16 at a remuneration of ` 200,000/- The The Board, on the recommendation of the remuneration payable to them is required Nomination & Remuneration Committee, WR EH UDWL¿HG E\ WKH VKDUHKROGHUV DW WKH has formulated a Policy for the remuneration ensuing Annual General Meeting. of Directors and Senior Management. Brief details of the Policy are provided in the 18. Secretarial Audit Corporate Governance Report and also Pursuant to the provisions of Section posted on the website of the Corporation 204 of the Companies Act, 2013 read (http://bbtcl.com/remuneration-policy/) with the Companies (Appointment and 16. Statutory Auditors Remuneration of Managerial Personnel) Rules, 2014, the Corporation appointed Mr Pursuant to the provisions of Section 139 Tushar Shridharani, Practicing Company of the Companies Act, 2013 (“the Act”) and Secretary as Secretarial Auditor for the year the Rules made thereunder, Messrs. B S R 2014-2015. The Report of the Secretarial & Co. LLP, Mumbai, Chartered Accountants, Auditor is appended as Annexure B. were appointed as Statutory Auditors of $XGLWRUV¶4XDOL¿FDWLRQV WKH&RUSRUDWLRQIRUDSHULRGRI¿YH\HDUVDW the Annual General Meeting held on 13th 7KHUHZHUHQRTXDOL¿FDWLRQVUHVHUYDWLRQV $XJXVWVXEMHFWWRUDWL¿FDWLRQE\WKH adverse remarks or disclaimers made either 20 Annual Report 2014-2015 by the auditors or by the practicing 23. Particulars of Employees company secretary in their respective The information as per Section 197(12) of reports. the Companies Act, 2013 read with Rule 20. Corporate Governance Report 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) In accordance with Clause 49 of the Listing Rules, 2014, is appended to this Report as $JUHHPHQWV ZLWK WKH 6WRFN ([FKDQJHV D Annexure E. separate report on Corporate Governance DORQJ ZLWK WKH $XGLWRUV¶ &HUWL¿FDWH RQ LWV Having regard to the provisions of the compliance is appended to this Report as ¿UVW SURYLVR WR 6HFWLRQ RI WKH $FW Annexure C. the Annual Report is being sent to the members and others entitled thereto, 21. Corporate Social Responsibility H[FOXGLQJ WKH LQIRUPDWLRQ RQ HPSOR\HHV¶ The Board of Directors constituted the particulars as required under Rule 5(2) of Corporate Social Responsibility (CSR) the aforesaid Rules. The said information Committee in accordance with Section 135 is available for inspection by the members of the Companies Act, 2013 comprising of DWWKH5HJLVWHUHG2I¿FHRIWKH&RUSRUDWLRQ three directors including two Independent during business hours on working days up Directors. The CSR Policy of the Corporation to the date of the ensuing Annual General and initiatives taken by the Corporation with Meeting. If any member is interested in respect to Corporate Social Responsibility obtaining a copy thereof, such member during the year under review in terms of the may write to the Company Secretary and Companies (Corporate Social Responsibility the same will be furnished on request. Policy) Rules, 2014 are appended to this Report as Annexure D. 6LJQL¿FDQW 0DWHULDO 2UGHUV 3DVVHG %\ The Regulators 22. Audit Committee 7KHUH DUH QR VLJQL¿FDQW DQG PDWHULDO The composition, powers, role and terms orders passed by the Regulators or Courts of reference of the Audit Committee are or Tribunals impacting the going concern in accordance with the requirements status and the Corporation’s operations in mandated under Section 177 of the future. Companies Act, 2013 and Clause 49 of the Listing Agreement. The details of the Audit 25. Extract Of Annual Return Committee along with number of meetings 7KHGHWDLOVIRUPLQJSDUWRIWKHH[WUDFWRIWKH held during the period under review are Annual Return in Form MGT 9 is appended covered in the Corporate Governance to this Report as Annexure F. Report. 26. Acknowledgements The Corporation has established a vigil mechanism through the Audit Committee, Your Directors would like to thank all wherein genuine concerns of employees customers, shareholders, suppliers, and other Directors could be redressed. bankers, employees and all other business associates for their continued support. The details of the Whistle Blower Policy/ Vigil Mechanism is covered in the Corporate Governance Report. The Whistle Blower On behalf of the Board Policy is available on the website of the Company (http://www.bbtcl.com/whistle- Nusli N Wadia blower-policy ). Mumbai: 22 May, 2015 Chairman 21 The Bombay Burmah Trading Corporation, Limited Annexure A CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS & OUTGO (A) CONSERVATION OF ENERGY: (B) TECHNOLOGY ABSORPTION: (i) Steps taken on conservation of Energy : (i) Efforts made towards Technology At Plantation Division : Absorption: Efforts are being made to identify new pesticide molecules a) Optimizing Trials of our Power Supply at the Tea Estates. Also trials with Utilization to improve Power factor. alternate methods of plant protection E 7ULDOVIRULPSURYHPHQWRIWKHUPDOHI¿FLHQF\ during micro organisms to control by monitoring stack emission parameters. SHVWV DQG GLVHDVHV DQG ¿HOG WULDOV RQ foliar nano nutrients are initiated at Tea F ,PSURYLQJ HOHFWULFDO LOOXPLQDWLRQ HI¿FLHQF\ Estates. At Electromags, technological by strategizing lumens watts for adequate development of Solar Home Lighting lumens discharge for increased power. system and USB Charger Kits are being d) Trials for reduction of slippage on Power carried out. transmission and monitoring of process by consumption. LL %HQH¿WV GHULYHG OLNH SURGXFW improvement, cost reduction, product At Electromags Division: development or import substitution: The a) Environment Management Programme efforts referred to above have resulted (LED & Solar lights to reduce consumption). in savings on cost of Blister light control and increase in yield at Estates. Efforts (ii) Steps taken for utilizing alternate sources of Energy: at Electronics Division have resulted in additional turn over. The Corporation in partnership with Scalene Energy Water Corporation Limited has (iii) There was no import of technology developed waste treatment plant at Elkhill during the last three years. Coffee Estate and completed installation & LY 7KHH[SHQGLWXUHLQFXUUHGRQ5HVHDUFK commissioning of Bio-Methenization Plant Development is ` 62.19 lakhs and Aquatron and Waste water recovery system in March, 2015. The trials with (C) FOREIGN EXCHANGE EARNING AND Gas production and Water recovery are in OUTGO: process at Coffee Estate. (i) )RUHLJQ ([FKDQJH ` 7,892.69 (iii) Capital Investment of energy conservation earned in terms of actual Lakhs. equipments: LQÀRZVGXULQJWKH\HDU The investments for Coffee waste (ii) )RUHLJQ([FKDQJHRXWJR ` 983.43 treatment to generate alternate source during the year in terms Lakhs of energy as on 31st March, 2015 was RIDFWXDORXWÀRZV ` 13.06 crores. 22 Annual Report 2014-2015 Annexure B SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR ENDED ON 31 MARCH, 2015 [Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014] To, The Members- The Bombay Burmah Trading Corporation, Limited 9, Wallace Street, Fort Mumbai – 400 001 I have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices byThe Bombay Burmah Trading Corporation, Limited (“the Company”). Secretarial Audit was conducted in a manner that provided me a reasonable basis for HYDOXDWLQJWKHFRUSRUDWHFRQGXFWVVWDWXWRU\FRPSOLDQFHVDQGH[SUHVVLQJP\RSLQLRQWKHUHRQ %DVHGRQP\YHUL¿FDWLRQRIWKH&RPSDQ\¶VERRNVSDSHUVPLQXWHERRNVIRUPVDQGUHWXUQV¿OHG and other records maintained by the Company and also the information provided by the Company, LWVRI¿FHUVDJHQWVDQGDXWKRUL]HGUHSUHVHQWDWLYHVGXULQJWKHFRQGXFWRIVHFUHWDULDODXGLW,KHUHE\ UHSRUWWKDWLQP\RSLQLRQWKH&RPSDQ\KDVGXULQJWKHDXGLWSHULRGFRYHULQJWKH¿QDQFLDO\HDU ended on 31 March, 2015 (“Audit Period”) complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the H[WHQWLQWKHPDQQHUDQGVXEMHFWWRWKHUHSRUWLQJPDGHKHUHLQDIWHU , KDYH H[DPLQHG WKH ERRNV SDSHUV PLQXWH ERRNV IRUPV DQG UHWXUQV ¿OHG DQG RWKHU UHFRUGV maintained by the Company for the Audit Period according to the provisions of: (i) The Companies Act, 2013 (“the Act”) and the rules made thereunder; (ii) The Securities Contracts (Regulation) Act, 1956 and the rules made thereunder; (iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder; LY )RUHLJQ([FKDQJH0DQDJHPHQW$FW DQGWKHUXOHVDQGUHJXODWLRQVPDGHWKHUHXQGHUWR WKHH[WHQWRI)RUHLJQ'LUHFW,QYHVWPHQW2YHUVHDV'LUHFW,QYHVWPHQWDQG([WHUQDO&RPPHUFLDO Borrowings; Y 7KHIROORZLQJ5HJXODWLRQVDQG*XLGHOLQHVSUHVFULEHGXQGHUWKH6HFXULWLHVDQG([FKDQJH%RDUG of India Act, 1992: D 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 6XEVWDQWLDO$FTXLVLWLRQRI6KDUHVDQG7DNHRYHUV Regulations, 2011; E 7KH6HFXULWLHV DQG ([FKDQJH %RDUG RI ,QGLD 3URKLELWLRQ RI ,QVLGHU 7UDGLQJ 5HJXODWLRQV 1992; F 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ,VVXHRI&DSLWDODQG'LVFORVXUH5HTXLUHPHQWV Regulations, 2009; G 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD (PSOR\HH6WRFN2SWLRQ6FKHPHDQG(PSOR\HH Stock Purchase Scheme) Guidelines, 1999; H 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ,VVXHDQG/LVWLQJRI'HEW6HFXULWLHV 5HJXODWLRQV 2008; 23 The Bombay Burmah Trading Corporation, Limited I 7KH 6HFXULWLHV DQG ([FKDQJH %RDUG RI ,QGLD 5HJLVWUDUV WR DQ ,VVXH DQG 6KDUH 7UDQVIHU Agents) Regulations, 1993 regarding the Companies Act and dealing with client; J 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 'HOLVWLQJRI(TXLW\6KDUHV 5HJXODWLRQV and K 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD %X\EDFNRI6HFXULWLHV 5HJXODWLRQV During the Audit Period, the Company has complied with the provisions of the Act, Rules, 5HJXODWLRQV*XLGHOLQHV6WDQGDUGVHWFPHQWLRQHGDERYHWRWKHH[WHQWDSSOLFDEOH +DYLQJUHJDUGWRWKHFRPSOLDQFHV\VWHPSUHYDLOLQJLQWKH&RPSDQ\DQGRQH[DPLQDWLRQRQWKH test check basis of the relevant records, I further report that the Company has complied with the IROORZLQJODZVDVDUHVSHFL¿FDOO\DSSOLFDEOHWRWKH&RPSDQ\ (a) The Tea Act, 1953 and the rules made thereunder; (b) The Coffee Act, 1942 and the rules made thereunder; (c) The Plantation Labour Act, 1951 and the rules made thereunder. ,KDYHDOVRH[DPLQHGFRPSOLDQFHZLWKWKHDSSOLFDEOHFODXVHVRIWKH/LVWLQJ$JUHHPHQWHQWHUHG LQWRE\WKH&RPSDQ\ZLWK7KH%RPED\6WRFN([FKDQJH During the Audit Period, the Secretarial Standards issued by The Institute of Company Secretaries RI,QGLDZHUHQRWDSSOLFDEOHWRWKH&RPSDQ\SHQGLQJLWVQRWL¿FDWLRQ I further report that: 7KH%RDUGRI'LUHFWRUVRIWKH&RPSDQ\LVGXO\FRQVWLWXWHGZLWKWKHSURSHUEDODQFHRI([HFXWLYH 'LUHFWRUV1RQ([HFXWLYH'LUHFWRUVDQG,QGHSHQGHQW'LUHFWRUV7KHFKDQJHVLQWKHFRPSRVLWLRQ of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act. Adequate notice is given to all directors to schedule the Board Meetings, agenda and notes on DJHQGDZHUHVHQWDWOHDVWVHYHQGD\VLQDGYDQFHDQGDV\VWHPH[LVWVIRUVHHNLQJDQGREWDLQLQJ IXUWKHULQIRUPDWLRQDQGFODUL¿FDWLRQVRQWKHDJHQGDLWHPVEHIRUHWKHPHHWLQJDQGIRUPHDQLQJIXO participation at the meeting. During the Audit Period, all decisions at Board Meetings and Committee Meetings were carried out unanimously. I further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines. I further report that during the Audit Period the Company has no corporate event / action, which otherwise would have a major bearing on its affairs in pursuance of the above referred laws, rules, regulations, guidelines, standards etc. referred to above. (Tushar Shridharani) Place: Mumbai Practicing Company Secretary Date: 22 May, 2015 FCS 2690 / COP 2190 24 Annual Report 2014-2015 Annexure C CORPORATE GOVERNANCE REPORT 1. Corporation’s Philosophy on Corporate Governance: The Corporation considers good Corporate Governance as a pre-requisite for achieving sustainable corporate growth and enhancing value for all stakeholders in the business. Our policies and processes are based on the Wadia Code of Conduct which emphasizes transparency, fairness and ethics in business practices. The Corporation believes that good corporate governance emerges from transparency in EXVLQHVVGHDOLQJVDQGKDYLQJLQSODFHUREXVWV\VWHPVDQGSURFHVVHVGH¿QLQJDFFRXQWDELOLW\ integrity, high standard of regulatory compliances and control including empowerment of all VWDNHKROGHUVWKHUHE\IXO¿OOLQJLWVUHVSRQVLELOLWLHVRIFRUSRUDWHFLWL]HQVKLS 2. Board of Directors: 7KH %RDUG RI 'LUHFWRUV RI WKH &RUSRUDWLRQ KHDGHG E\ 0U 1XVOL 1 :DGLD 1RQ([HFXWLYH 3URPRWHU'LUHFWRUFRPSULVHVRIHPLQHQWSHUVRQVZLWKFRQVLGHUDEOHSURIHVVLRQDOH[SHULHQFH DQGH[SHUWLVHLQGLYHUVHEXVLQHVVDUHDV$VRQVW0DUFKWKH%RDUGFRPSULVHGRI(LJKW (8) Directors out of which four (4) are Independent Directors ( including Woman Director) and WZR DUH([HFXWLYH'LUHFWRUV During the year under review, 5 Board Meetings were held, the dates being 27th May, 2014; 13th August, 2014; 13th November, 2014; 3rd February, 2015 and 28th March, 2015. The details of number of Other Directorships and attendance at Board Meetings and Annual General Meetings are as follows: Name of the Director Category No. of Whether No. of No. of Committee Board attended Directorships in positions held Meetings last AGM other public in other public attended held on companies* companies# (out of 5) 13.8.2014 Chairman Member Chairman Member Mr. Nusli N. Wadia, Promoter / 5Yes3 4 - - Chairman 1RQ([HFXWLYH Mr. A. K. Hirjee, Vice Independent 5 Yes 2242 Chairman Mr. M. L. Apte Independent 5 Yes -5-4 Mr. D. E. Udwadia Independent 4 Yes 1 8 2 6 Mr. P. K. Cassels (upto Independent Nil No ---- 28.3.2015) Mr. B.N.B. Tao Independent Nil No ---- (upto 28.3.2015) Mr. JehWadia Promoter / 5Yes-4-2 1RQ([HFXWLYH Ms. Vinita Bali Non- 2 Yes NA NA NA NA (upto1.10.2014) ([HFXWLYH Non- Independent Dr. (Mrs) Sheela Bhide Independent Nil NA - 4 2 2 (w.e.f. 28.3.2015) Mr. Ashok Panjwani, Managing 5Yes2 3 - - Managing Director Director Mr. Ness Wadia, Promoter/ 5Yes15-1 Managing Director Managing Director ([FOXGHVDOWHUQDWHGLUHFWRUVKLSDQGGLUHFWRUVKLSLQIRUHLJQFRPSDQLHVDQGSULYDWHFRPSDQLHV which are neither subsidiaries nor holding companies of public companies. ([FOXGHV&RPPLWWHHVRWKHUWKDQ$XGLW&RPPLWWHHDQG6WDNHKROGHUV¶5HODWLRQVKLS&RPPLWWHH of public limited companies. Note: Mr Nusli N. Wadia, Mr. Jeh Wadia and Mr. Ness Wadia are relatives as per Section 2(77) of the Companies Act, 2013. 25 The Bombay Burmah Trading Corporation, Limited 3. Committees of the Board : The Board has four Committees: the Audit Committee, the Nomination and Remuneration Committee, the Stakeholders’ Relationship Committee and the Corporate Social Responsibility (CSR) Committee. (a) Audit Committee: The composition, powers, role and terms of reference of the Audit Committee are in accordance with the requirements of Section 177 of the Companies Act, 2013 and Clause 49 of the Listing Agreements. The Audit Committee comprises of 3 Independent Directors: 0U0/$SWH &KDLUPDQ 0U'(8GZDGLD 0U$.+LUMHH Mr Ashok Panjwani and Mr. Ness Wadia, Managing Directors, Statutory Auditors, and Internal Auditors attend Audit Committee meetings as Invitees. Mr. N H Datanwala, Vice President Corporate and Company Secretary, acts as the Secretary to the Committee. The Committee adopted the Audit Committee Charter, which was duly revised with effect from October 1, 2014 in the light of amendments in Clause 49 of the Listing Agreements. 7KHUROHRIWKH$XGLW&RPPLWWHHÀRZVGLUHFWO\IURPWKH%RDUGRI'LUHFWRUV¶RYHUYLHZIXQFWLRQ on corporate governance, which holds the management accountable to the Board and the Board accountable to the stakeholders. The terms of reference of the Audit Committee EURDGO\LQFOXGHVUHYLHZRIWKH&RUSRUDWLRQ¶V¿QDQFLDOVWDWHPHQWVLQWHUQDO¿QDQFLDOUHSRUWLQJ SURFHVVLQWHUQDO¿QDQFLDOFRQWUROVWKHDXGLWSURFHVVDGHTXDF\UHOLDELOLW\DQGHIIHFWLYHQHVV of the internal control systems and risk management process, vigil mechanism, related party transactions, monitoring process for compliance with laws and regulations and the Code of Conduct.The Audit Committee also reviews management letters and the responses thereto by the management. During the year under review, four (4 )Meetings of the Audit Committee were held, the dates being 26th May, 2014; 5th August, 2014; 8th November, 2014 and 27th January, 2015. Details of attendance of each member at the Audit Committee Meetings are as follows: Name of Director No. of Audit Committee Meetings attended Mr. M. L. Apte 4 Mr. D E. Udwadia 4 Mr. A. K. Hirjee 3 Internal Audit and Control: M/s. S. P. Paramasivam & Co., Chartered Accountants, are the internal auditors of the Plantations Division and M/s. Sharp & Tannan (Goa), Chartered Accountants, are the internal auditors for the other divisions of the Corporation. Their internal audit plan and remuneration are approved by the Audit Committee. 7KHUHSRUWVDQG¿QGLQJVRIWKHLQWHUQDODXGLWRUDQGWKHLQWHUQDO¿QDQFLDOFRQWUROV\VWHPDUH periodically reviewed by the Audit Committee. Vigil Mechanism/ Whistle Blower Policy: The Corporation believes in the conduct of the affairs of its constituents in a fair and transparent manner by adoption of highest standards of professionalism, honesty, integrity and ethical behavior. Towards this end, the Corporation has implemented a Whistle Blower 26 Annual Report 2014-2015 Policy, with a view to provide a mechanism for employees and Directors of the Corporation to approach the Ethics Committee or Chairman of the Audit Committee of the Corporation to report instances of violations of laws, rules and regulations, unethical behavior, actual or suspected, fraud or violation of the Corporation’s Code of Conduct or Ethics Policy. The vigil mechanism also provides adequate safeguards against victimisation of persons who use such mechanisms and also to ensure direct access to the Ethics Committee or Chairman of WKH$XGLW&RPPLWWHHLQDSSURSULDWHRUH[FHSWLRQDOFDVHV (b) Nomination and Remuneration Committee: The composition, powers, role and terms of reference of the Committee are in accordance with the requirements mandated under Section 178 of the Companies Act, 2013 and Clause 49 of the Listing Agreements. The Nomination and Remuneration Committee (NRC) comprises of 3 Independent Directors DQG1RQ([HFXWLYH3URPRWHU'LUHFWRU 0U0/$SWH &KDLUPDQ 0U1XVOL1:DGLD 0U$.+LUMHH 0U'(8GZDGLD The broad terms of reference of the Nomination and Remuneration Committee include : 5HFRPPHQGWKHVHWXSDQGFRPSRVLWLRQRIWKH%RDUGLWVFRPPLWWHHVDQGWKHOHDGHUVKLS WHDPRIWKH&RUSRUDWLRQFRPSULVLQJRI.H\0DQDJHULDO3HUVRQQHO ³.03´ DVGH¿QHGE\ WKH&RPSDQLHV$FW DQGH[HFXWLYHWHDP DVGH¿QHGE\WKH&RPPLWWHH (YDOXDWLRQRISHUIRUPDQFHRIWKH%RDUGLWVFRPPLWWHHVDQGLQGLYLGXDOGLUHFWRUV 5HPXQHUDWLRQIRUGLUHFWRUV.03H[HFXWLYHWHDPDQGRWKHUHPSOR\HHV 2YHUVLJKWRIWKHIDPLOLDULVDWLRQSURJUDPPHRIGLUHFWRUV 2YHUVLJKWRIWKH+53KLORVRSK\+5DQG3HRSOH6WUDWHJ\DQGNH\+5SUDFWLFHV During the year under review, 3 meetings of the Committee were held on 27th May, 2014, 3rd February, 2015 and 28th March, 2015. Name of Directors No. of NCR Meetings attended Mr. M. L. Apte 3 Mr. Nusli N. Wadia 3 Mr. A. K. Hirjee 3 Mr. D. E. Udwadia 2 Remuneration Policy: Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of the Listing Agreement, the Remuneration Policy was formulated and adopted by the NRC/ Board. The broad objectives of the Policy are : WRHYDOXDWHWKHSHUIRUPDQFHRIWKHPHPEHUVRIWKH%RDUGDQGSURYLGHQHFHVVDU\UHSRUWWR the Board for further evaluation of the Board; WR UHFRPPHQG WR WKH %RDUG RQ 5HPXQHUDWLRQ SD\DEOH WR WKH 'LUHFWRUV .H\ 0DQDJHULDO Personnel and Senior Management; WR SURYLGH WR .H\ 0DQDJHULDO 3HUVRQQHO DQG 6HQLRU 0DQDJHPHQW UHZDUG OLQNHG GLUHFWO\ to their effort, performance, dedication and achievement relating to the Corporation’s operations; and WR UHWDLQPRWLYDWHDQGSURPRWH WDOHQWDQGWR HQVXUHORQJWHUPVXVWDLQDELOLW\RI WDOHQWHG managerial persons and create competitive advantage. 27 The Bombay Burmah Trading Corporation, Limited L 5HPXQHUDWLRQWR([HFXWLYH'LUHFWRUV The Corporation has two Managing Directors viz. Mr. Ashok Panjwani and Mr. Ness Wadia. Mr Ashok Panjwani was re-appointed as Managing Director of the Corporation at the Annual *HQHUDO0HHWLQJKHOGRQWK$XJXVWIRUDWHUPRI¿YH\HDUVIURPWK-XQHDQG Mr Ness Wadia was appointed as Managing Director at the Annual General Meeting held on WK$XJXVWIRUDWHUPRI¿YH\HDUVIURPVW$SULO7KHUHPXQHUDWLRQVWUXFWXUH FRPSULVHVRIEDVLFVDODU\VSHFLDODOORZDQFHSHUTXLVLWHVDQGUHWLUDOEHQH¿WVDQGSHUIRUPDQFH bonus as may be decided by the NRC, subject to the overall limits of remuneration governed by the respective shareholders’ approval. Details of remuneration paid to Managing Directors during the year 2014-15 are given below: (In `) Name Salary (including Contribution to Perquisites in cash allowances and Provident & other Funds or kind bonus) excluding Gratuity Mr. Ashok Panjwani 11,369,820 3,069,851 3,327,744 Mr. Ness Wadia 28,274,400 5,089,392 724,000 The Corporation has not granted any stock options to its wholetime directors during the year. In respect of remuneration paid to Mr. Ashok Panjwani in terms of shareholders’ resolution dated 8th August, 2012, Central Government approval is not required in view of General Circular 07/2015 dated 10th April, 2015 issued by the Ministry of Corporate Affairs since he VDWLV¿HVERWKFRQGLWLRQVRIH[HPSWLRQXQGHUWKHVDLG&LUFXODUYL]EHLQJDTXDOL¿HGSURIHVVLRQDO director and not having any direct/ indirect interest in the capital of the Corporation. Mr. Ness Wadia’s remuneration, although in accordance with the approval granted by the VKDUHKROGHUVDV0LQLPXP5HPXQHUDWLRQLVLQH[FHVVRIWKHOLPLWVSUHVFULEHGE\6FKHGXOH 9RIWKH&RPSDQLHV$FW,QYLHZRILQDGHTXDF\RISUR¿WVDVFRPSXWHGXQGHU6HFWLRQ 198 of the Act, the Corporation has applied to the Central Government for approval of remuneration of Mr. Ness Wadia.The application has been made as Mr. Ness Wadia holds direct and indirect interest in the capital of the Corporation although the condition under the VDLG&LUFXODURIKROGLQJSURIHVVLRQDOTXDOL¿FDWLRQLVVDWLV¿HG LL 5HPXQHUDWLRQWR1RQ([HFXWLYH'LUHFWRUV 7KH1RQ([HFXWLYH'LUHFWRUVGRQRWGUDZDQ\UHPXQHUDWLRQIURPWKH&RUSRUDWLRQRWKHUWKDQ VLWWLQJIHHVDQGVXFKFRPPLVVLRQQRWH[FHHGLQJRIWKHQHWSUR¿WVRIWKH&RUSRUDWLRQ as approved by the shareholders and computed in the manner laid down in Section 198 of the Companies Act, 2013, as may be determined by the Board from time to time. In view of LQDGHTXDF\RISUR¿WVQRFRPPLVVLRQKDVEHHQSDLGWRWKH1RQ([HFXWLYH'LUHFWRUV 'HWDLOVRI SD\PHQWVPDGHWR1RQ([HFXWLYH'LUHFWRUVGXULQJWKH\HDU DUHJLYHQ below: (In `) Name of Director Sitting fees for Board Total No. of Shares held and Committee in the Corporation as on Meetings 31st March, 2015. Mr. Nusli N. Wadia 160,000 61,41,505 Mr. A. K. Hirjee 340,000 1,750 Mr. M. L. Apte 360,000 Nil Mr. D. E. Udwadia 220,000 Nil Mr. P. K. Cassels (upto 28.3.2015) Nil Nil Mr. B.N.B. Tao (upto 28.3.2015) Nil Nil Mr. Jeh Wadia 120,000 3,500 Ms. Vinita Bali (upto1.10.2014) 40,000 Nil Dr. (Mrs) Sheela Bhide (wef 28.3.2015) Nil Nil 28 Annual Report 2014-2015 During the year ended 31st March, 2015, the Corporation paid ` WR WKH ODZ ¿UP M/s. Udwadia, Udeshi & Argus Partners as fees for professional services provided by them from WLPHWRWLPH0U'(8GZDGLDLVDIRXQGHUSDUWQHURIWKHDERYH¿UP7KH&RUSRUDWLRQKDV UHFHLYHGFRQ¿UPDWLRQIURP0V8GZDGLD8GHVKL $UJXV3DUWQHUVWKDWWKHSURIHVVLRQDOIHHV SDLGGXULQJWKH\HDUHQGHGVW0DUFKWRWKHODZ¿UP0V8GZDGLD8GHVKL $UJXV Partners in which Mr. D. E. Udwadia is a partner, is less than 10% of the gross turnover of the ¿UP Evaluation of Performance of the Board, Its Committees and Individual Directors Pursuant to the provisions of the Companies Act, 2013 (“Act”) and the corporate governance UHTXLUHPHQWVDVSUHVFULEHGE\6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ³6(%,´ XQGHU&ODXVH 49 of the Equity Listing Agreement (“Clause 49”) (as may be applicable), the Board of Directors (“Board”) has carried out an annual evaluation of its own performance, and that of its Committees and individual directors. The performance of the Board and individual directors was evaluated by the Board seeking inputs from all the Directors. The performance of the Committees was evaluated by the Board seeking inputs from the Committee members. The Nomination and Remuneration Committee (“NRC”) reviewed the performance of the individual Directors. A separate meeting of Independent Directors was also held to review the performance of non-Independent Directors, performance of the Board as a whole and performance of the Chairman of the Corporation , taking into DFFRXQWWKHYLHZVRIH[HFXWLYH'LUHFWRUVDQGQRQH[HFXWLYH'LUHFWRUV7KLVZDVIROORZHGE\ a Board meeting that discussed the performance of the Board, its Committees and individual Directors. The criteria for performance evaluation of the Board included aspects like Board composition and structure, effectiveness of Board processes, information and functioning etc. The criteria for performance evaluation of Committees of the Board included aspects like composition of committees, effectiveness of committee meetings etc. The criteria for performance evaluation of the individual directors included aspects on contribution to the Board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings etc. In addition, the Chairman was also evaluated on the key aspects of his role. (c) Stakeholders’ Relationship Committee: The composition, powers, role and terms of reference of the Committee are in accordance with the requirements mandated under Section 178 of the Companies Act, 2013 and Clause 49 of the Listing Agreements. The broad terms of reference of the said Committee are as follows: i) To look into the redressal of grievances such as transfer of security, non-receipt of annual reports, dividends, interest etc. of shareholders of the Corporation; ii) To approve and monitor transfers, transmission, splitting, consolidation, dematerialisation, rematerialisation of securities issued by the Corporation; iii) To carry out the functions as envisaged under the Code of Conduct to regulate, monitor and report trading by insiders and code of practices and procedures for fair disclosures of unpublished price sensitive information adopted by the Corporation in terms of Regulations 8(1), 9(1) and 9(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. The Stakeholders’ Relationship Committee (SRC) comprises of two Independent Directors DQG3URPRWHU([HFXWLYH'LUHFWRU 0U$.+LUMHH &KDLUPDQ 0U0/$SWH 0U1HVV:DGLD 29 The Bombay Burmah Trading Corporation, Limited During the year under review, four meetings of this Committee were held, the dates being 27th May, 2014; 5th August, 2014;13th November, 2014 and 3rd February, 2015. Name of Director No. of SRC Meetings attended Mr. A. K. Hirjee 4 Mr. M. L. Apte 4 Mr. Ness Wadia 3 The Board has given authority to any two Directors residing in Mumbai to approve the transfer deeds presented in respect of transfer of shares of the Corporation held in physical form. The transfer deeds are sent to the directors every week for their approval and the VDPHDUHFRQ¿UPHGDWWKHVXEVHTXHQW%RDUG0HHWLQJ All shares received for transfer which were correct and valid in all respects, were registered and dispatched within 15 days of receipt of the documents. During the year under review, Transfer Deeds were sent 38 times for the approval of the Directors. Mr. N.H. Datanwala, Vice President Corporate & Company Secretary is the Compliance 2I¿FHURIWKH&RUSRUDWLRQ No. of shareholders’ complaints received during the year 32 No. of complaints not resolved to the satisfaction of shareholders Nil No. of pending share transfers Nil (d) Corporate Social Responsibility (CSR) Committee: The CSR Committee’s constitution and terms of reference are in compliance with provisions of the Section 135 of the Companies Act, 2013 and Clause 49 of the Listing Agreement. 7KH&65&RPPLWWHHFRQVLVWVRIWZR,QGHSHQGHQW'LUHFWRUVDQGRQH3URPRWHU1RQ([HFXWLYH Director : Ms. Vinita Bali (Chairperson upto1.10.2014) Mr. A. K. Hirjee (Chairman wef 28.3.2015) Mr. M. L. Apte Mr. Jeh Wadia The broad terms of reference of the CSR Committee include: (i) formulate and recommend to the Board, a Corporate Social Responsibility (CSR) Policy ZKLFKVKDOOLQGLFDWHWKHDFWLYLWLHVWREHXQGHUWDNHQE\WKH&RUSRUDWLRQDVVSHFL¿HGLQ Schedule VII; LL UHFRPPHQG WKH DPRXQW RI H[SHQGLWXUH WR EH LQFXUUHG RQ WKH DFWLYLWLHV UHIHUUHG WR LQ clause (i); and (iii) monitor the CSR Policy of the Corporation from time to time. During the year under review, the Committee met once on 28th March, 2015 and all members attended the meeting. (e) Independent Directors’ Meeting: During the year under review, a separate meeting of the Independent Directors was held on March 28, 2015, inter alia, to discuss: SHUIRUPDQFHRIQRQLQGHSHQGHQW'LUHFWRUVDQGWKH%RDUGDVDZKROH 30 Annual Report 2014-2015 SHUIRUPDQFHRIWKH&KDLUPDQ WKHTXDOLW\TXDQWLW\DQGWLPHOLQHVRIÀRZRILQIRUPDWLRQEHWZHHQWKHPDQDJHPHQWDQG the Board that is necessary for the Board to effectively and reasonably perform their duties. The meeting was attended by all the Independent Directors to enable them discuss matters pertaining to the Corporation’s affairs and put forth their combined views to the Board of Directors. Familiarisation program for Independent Directors The Board members are provided with necessary documents, reports and internal policies to enable them familiarize themselves with the Corporation’s procedures and practices. Detailed presentations on the overall business, division-wise performance, business strategy, risks involved and mitigation measures adopted are made at Board / Audit Committee meetings. Details of the familiarization program are given in the Corporation’s website (http://bbtcl.com/ corporate-governance-report/) 4. General Body Meetings: (a) Location and time of Annual General Meetings held in the three previous years and Special resolutions passed thereat : Sr. Date and Time of Venue Special Resolutions passed No AGM 1 8th August, 2012 Y B Chavan Auditorium, Consent of the Corporation under at 3.45 pm Gen Jagannath Bhosale Sections 198, 269, 309 and 311 and other Marg, Mumbai 400021 related provisions of the Companies Act, 1956, for the appointment of Mr. Ashok Panjwani as a Managing Director of the Corporation, for a period of 5 years w.e.f. 24-06-2012 as per the terms and conditions detailed in the resolution UHDG WRJHWKHU ZLWK WKH ([SODQDWRU\ Statement thereto. 2 7th August, 2013 Rama Watumull Approval under Section 309(4) read at 3.45 pm Auditorium, Dinshaw with Section 309(7) of the Companies Vachha Road, Mumbai Act, 1956 to pay its Directors (other than 400020 Managing Director or the Whole time GLUHFWRU FRPPLVVLRQQRWH[FHHGLQJ RIWKHQHWSUR¿WVRIWKH&RUSRUDWLRQIRU HDFKRI¿YH¿QDQFLDO\HDUVFRPPHQFLQJ from 1st April, 2013. 3 13th August, 2014 Y B Chavan Auditorium, 1) Consent of the Corporation under at 4.00 pm Gen Jagannath Bhosale Section 180(1)(c) of the Companies Marg, Mumbai 400021 Act, 2013 to borrow monies upto ` 600 crores over and above the aggregate of the paid-up Capital and free reserves; 2) Consent of the Corporation under Section 180(1)(a) of the Companies Act, 2013 to create charges, hypothecation etc.on its assets upto ` 600 crores over and above the aggregate of the paid-up Capital and free reserves; 31 The Bombay Burmah Trading Corporation, Limited (b) Whether any Special Resolutions were passed last year through postal ballot: No. (c) Whether any Special Resolution is proposed to be passed through postal ballot this year: Currently, there is no proposal to pass any Special resolution through Postal Ballot. Special resolutions by way of Postal Ballot, if required to be passed in the future, will be decided at the relevant time. 5. Other Disclosures: (a) Related Party Transactions : The Corporation has formulated a policy on Related Party Transactions and also on dealing with Related Party Transactions. The policy is disclosed on the website of the Corporation (http://bbtcl.com/related-party-transactions-policy/). All transactions entered into with 5HODWHG 3DUWLHV DV GH¿QHG XQGHU WKH &RPSDQLHV $FW DQG &ODXVH RI WKH /LVWLQJ $JUHHPHQWGXULQJWKH¿QDQFLDO\HDUZHUHLQWKHRUGLQDU\FRXUVHRIEXVLQHVVDQGRQDQDUPV¶ length basis and do not attract the provisions of Section 188 of the Companies Act, 2013. However in compliance with the requirement of Clause 49 of the Listing Agreement, prior approval of the Audit Committee was sought for entering into the Related Party Transactions wherever required. All transactions with related parties are reported to the Audit Committee periodically. None RIWKHWUDQVDFWLRQVGXULQJWKH\HDUXQGHUUHYLHZZDVLQFRQÀLFWZLWKWKHLQWHUHVWVRIWKH Corporation . Suitable disclosure as required by AS-18 has been made under Note No. 34 of the Notes to Financial Statements for the year 2014-15. (b) Accounting Treatment : ,QWKHSUHSDUDWLRQRIWKH¿QDQFLDOVWDWHPHQWVQRWUHDWPHQWPDWHULDOO\GLIIHUHQWIURPWKDW prescribed in Accounting Standards had been followed. (c) Risk Management: A detailed review of business risks and the Corporation’s plan to mitigate them is presented to the Audit Committee and Board. The Corporation has been taking steps to mitigate foreseeable business risks. Business risk evaluation and management is an ongoing and continuous process within the Corporation and regularly updated to the Audit Committee and Board. (d) Code of Conduct: The Corporation has laid down a Code of Conduct for the members of the Board as well as for all employees of the Corporation. The Code has also been posted on the Corporation’s ZHEVLWH KWWS EEWFOFRPFRUSRUDWHJRYHUQDQFH 7KH0DQDJLQJ'LUHFWRUKDVFRQ¿UPHGDQG GHFODUHGWKDWDOOPHPEHUVRIWKH%RDUGDQG6HQLRU0DQDJHPHQWKDYHDI¿UPHGFRPSOLDQFH with the Code of Conduct. (e) Details of non-compliance by the Corporation, penalties, and strictures imposed on the &RUSRUDWLRQE\6WRFN([FKDQJHRU6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLDRUDQ\VWDWXWRU\ authority, on any matter related to capital markets, during the last three years: None. I &(2&)2&HUWL¿FDWLRQ Mr. Ashok Panjwani, Managing Director, and Mr. N H Datanwala,Vice President Corporate DQG &RPSDQ\ 6HFUHWDU\ KDYH SURYLGHG WKH &HUWL¿FDWH WR WKH %RDUG LQ DFFRUGDQFH ZLWK &ODXVH ,; RIWKH/LVWLQJ$JUHHPHQWSHUWDLQLQJWR&(2&)2FHUWL¿FDWLRQIRUWKH¿QDQFLDO year ended 31st March, 2015. 32 Annual Report 2014-2015 (g) Code for Prevention of Insider Trading: The Corporation has adopted a Code of Conduct to regulate, monitor and report trading by insiders and code of practices and procedures for fair disclosures of unpublished price sensitive information in terms of Regulations 8(1), 9(1) and 9(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. The Code has also been posted on the Corporation’s website (http://bbtcl.com/corporate-governance-report/) $OO3URPRWHUV'LUHFWRUV.H\0DQDJHULDO3HUVRQVDQGRWKHU6SHFL¿HGSHUVRQVZKRFRXOG have access to unpublished price sensitive information of the Corporation are governed by this Code. K 'LVFORVXUHVXQGHUWKH3UHYHQWLRQRI6H[XDO+DUDVVPHQWRI:RPHQDW:RUNSODFH 3UHYHQWLRQ Prohibition and Redressal) Act, 2013 7KH&RUSRUDWLRQKDV]HURWROHUDQFHIRUVH[XDOKDUDVVPHQWDWZRUNSODFHDQGKDVDGRSWHG D 3ROLF\ RQ SUHYHQWLRQ SURKLELWLRQ DQG UHGUHVVDO RI VH[XDO KDUDVVPHQW DW ZRUNSODFH LQ OLQH ZLWK WKH SURYLVLRQV RI WKH 6H[XDO +DUDVVPHQW RI :RPHQ DW :RUNSODFH 3UHYHQWLRQ Prohibition and Redressal) Act, 2013 and the Rules thereunder for prevention and redressal RIFRPSODLQWVRIVH[XDOKDUDVVPHQWDWZRUNSODFH 7KH&RUSRUDWLRQKDVQRWUHFHLYHGDQ\FRPSODLQWRQVH[XDOKDUDVVPHQWGXULQJWKH¿QDQFLDO year 2014-2015. (i) Details of compliance with mandatory requirements and adoption of the non-mandatory requirements of this clause. The Corporation has complied with all the mandatory requirements of this Clause. As UHJDUGVWKHQRQPDQGDWRU\UHTXLUHPHQWVWKHH[WHQWRIFRPSOLDQFHKDVEHHQVWDWHGLQWKLV report against each item. 6. Means of Communication: (i) Quarterly/ Annual results : 7KHXQDXGLWHGTXDUWHUO\DQGKDOI\HDUO\UHVXOWVDUHDQQRXQFHGZLWKLQIRUW\¿YHGD\VIURP WKHHQGRIWKHTXDUWHUKDOI\HDUDQGWKHDXGLWHGDQQXDOUHVXOWVZLWKLQVL[W\GD\VIURPWKHHQG RIWKHODVWTXDUWHUDVVWLSXODWHGXQGHUWKH/LVWLQJ$JUHHPHQWZLWKWKH6WRFN([FKDQJHVDQG DUHVHQWWRWKH6WRFN([FKDQJHVLPPHGLDWHO\DIWHUWKHVHDUHDSSURYHGE\WKH%RDUG (ii) Publication of Quarterly/Annual results: 7KHUHVXOWVDUHVHQWWRWKH6WRFN([FKDQJHVLPPHGLDWHO\RQDSSURYDOE\WKH%RDUGDQGDUH published in The Free Press Journal (English) and Navshakti ( Marathi). (iii) Website where displayed: http://www.bbtcl.com LY :KHWKHUZHEVLWHDOVRGLVSOD\VRI¿FLDOQHZVUHOHDVHV $VDQGZKHQDSSOLFDEOH (v) Whether presentations made to institutional investors or to the analysts: No (vi) Whether Management Discussion and Analysis Report forms part of the Annual Report : Yes 7. General Shareholder Information : (a) AGM : Date, Time and Venue : Wednesday, 5th August, 2015 at 3.45 pm at Y.B. Chavan Auditorium, Gen. J. Bhosale Marg, Mumbai 400021. 33 The Bombay Burmah Trading Corporation, Limited (b) Financial Calendar (tentative): Financial reporting for the quarter ending June, 2015 By 15th August, 2015 Financial reporting for the quarter ending September, 2015 By 15th November, 2015 Financial reporting for the quarter ending December, 2015 By 15th February, 2016 Financial reporting for the year ending 31st March, 2016 By 30th May, 2016 Annual General Meeting for the year ending 31st March, /DVWZHHNRI-XO\¿UVWZHHN 2016 of August, 2016 (c) Book closure period: 30th July, 2015 to 5th August, 2015 (both days inclusive). (d) Dividend payment date: 10th August, 2015. (e) Listing on Stock Exchanges: The Corporation’s Securities are listed at (1) BSE Limited, Mumbai; and 7KH1DWLRQDO6WRFN([FKDQJHRI,QGLD/WG0XPEDL /LVWLQJIHHVDVSUHVFULEHGKDYHEHHQSDLGWRWKHDIRUHVDLG6WRFN([FKDQJHVXSWR0DUFK 2016. (f) Stock Code: BSE Ltd. : 501425 1DWLRQDO6WRFN([FKDQJHRI,QGLD/WG %%7&(4 (g) Stock Market Data:3OHDVHVHH$QQH[XUH (h) Stock Performance:3OHDVHVHH$QQH[XUH (i) Registrar & Transfer Agents: Sharepro Services (India) Pvt. Ltd., the Company’s Registrar and Transfer Agent (R&TA) handle the entire share registry work, both physical and electronic. Accordingly, all documents, transfer deeds, demat requests and other communications in relation thereto VKRXOGEHDGGUHVVHGWRWKH5 7$DWLWVIROORZLQJRI¿FHV 5HJLVWHUHG2I¿FH Sharepro Services (India) Pvt Ltd. Unit:The Bombay Burmah Trading Corporation, Limited $%6DPKLWD:DUHKRXVLQJ&RPSOH[ QG)ORRU6DNLQDND7HOHSKRQH([FK/DQH Off Andheri Kurla Road, Sakinaka, Andheri (E), Mumbai 400072 7HO )D[ E-mail: [email protected] Investor Relation Centre: 912, Raheja Centre, Free Press Journal Road, Nariman Point, Mumbai 400021 (j) Share Transfer System: Share transfers in physical form are registered within a period of 7 to 15 days from the date of receipt in case documents are complete in all respects. The total number of transfers/ transmissions received and total number of shares transferred/transmitted during the year 1st April, 2014 to 31st March, 2015 were: 34 Annual Report 2014-2015 Particulars No. of Transfers No. of Shares Transfers 3523,950 Transmission 25 25,350 Total 60 49,300 (k) Dematerialisation of shares: The Corporation’s shares are available for dematerialization with both the Depositories i.e., National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). 87.47 % of the paid-up capital of the Corporation were held in dematerialized form as on 31st March, 2015. (l) (i) Distribution of shareholding as on 31st March, 2015. Group of Shares No. of No. of Shares % of Total Shares Shareholders held 1 to 500 13032 20,94,816 3.00 501 to 1000 1500 12,53,413 1.80 1001 to 2000 946 14,45,264 2.07 2001 to 3000 506 12,98,619 1.86 3001 to 4000 221 7,73,669 1.11 4001 to 5000 141 6,55,843 0.94 5001 to 10000 265 18,56,102 2.66 10001 and above 221 6,03,94,174 86.56 Total 16832 6,97,71,900 100.00 (ii) Shareholding pattern as on 31st March, 2015. No. of Shares held % of Shares Promoter Group* 4,59,85,745 65.91 Financial Institutions/Banks 1,45,673 0.21 Insurance Companies 6,75,400 0.97 Mutual Fund & Unit Trust of India 26,73,169 3.83 FIIs and Foreign Banks 18,950 0.03 Others 2,02,72,963 29.05 Total 6,97,71,900 100.00 *Promoter Group includes Mr. Nusli N. Wadia and his relatives in terms of Section 2 (77) of the Companies Act, 2013, Archway Investments Company Limited, Nowrosjee Wadia 6RQV/LPLWHG1:([SRUWV/LPLWHG1DWLRQDO3HUR[LGH/LPLWHG1DSHURO,QYHVWPHQWV /LPLWHG 6XQÀRZHU ,QYHVWPHQWV 7H[WLOHV 3YW /WG :DGLD ,QYHVWPHQWV /LPLWHG *R Investment & Trading Pvt. Ltd., Nesville Trading Pvt. Ltd. and Varnilam Investment & Trading Co. Ltd. 35 The Bombay Burmah Trading Corporation, Limited (m) Audit of Reconciliation of Share Capital: $V VWLSXODWHG E\ 6(%, D TXDOL¿HG 3UDFWLFLQJ &RPSDQ\ 6HFUHWDU\ FDUULHV RXW WKH $XGLW RI Reconciliation of Share Capital to reconcile the total admitted capital with National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) and the total issued and paid-up capital. This audit is carried out every quarter and the report there RQLVVXEPLWWHGWRWKH6WRFN([FKDQJHV16'/DQG&'6/DQGLVSODFHGEHIRUHWKH%RDUG The audit, inter aliaFRQ¿UPVWKDWWKHWRWDOLVVXHGDQGSDLGXSFDSLWDORIWKH&RUSRUDWLRQLV in agreement with the aggregate of the total number of shares in dematerialized form held with NSDL and CDSL and total number of shares in physical form. (n) Unpaid Dividend : In terms of Section 205C of the Companies Act, 1956 read with the Investor Education and Protection Fund (Awareness and Protection of Investor) Rules, 2001, during the year ended 31 March 2015, the Corporation has credited an amount of ` 566,958 /- being unpaid dividend pertaining to the FY 2006-2007 to the Investor Education and Protection Fund (IEPF). (o) Plant Locations: Tea and Coffee Estates 1) Mudis Group of Estates, Mudis P.O., Coimbatore Dist. Tamil Nadu, 642117 2) Singampatti Group of Estates, Manjolai P.O Tirunelveli Dist. Tamil Nadu, 627420 3) Dunsandle Estate, Dunsandle P.O., Ootacamund, Nilgiri Dist., Tamil Nadu 643 005 (ON +LOO *URXS RI (VWDWHV 32 %R[ 1R Sidapur P & T.O., South Coorg, Karnataka 571253 5) Usambara Group, Marvera & Herkulu Estate, 32%R[6RQL7DQ]DQLD Auto Electric Component Division Plot No. 128-133, IIIrd Cross Street,Nehru Nagar, Kottivakkam, Tiruvanmiyur, Chennai, Tamil Nadu 600041 Healthcare Division Plot No.161-B, Village Danpur, Rudrapur Kashipur Road, Paragana-Rudrapur, Tehsil Kichha, Udhamsingh Nagar, Uttarakhand 263153 Weighing Products Division Plot 304, GIDC, Valsad Industrial Estate, Gundlav, Valsad, Gujarat 396035 Malaysian Branch Suite 628, 6th Floor, Pan Global Plaza, Jalan Wong Ah Fook 80000, Johor Bahru, Malaysia. 5HJLVWHUHG2I¿FH :DOODFH6WUHHW)RUW0XPEDL Email:[email protected] Note:Pursuant to Clause 47(f) of the Listing Agreement, the Corporation has designated an HPDLO LG H[FOXVLYHO\ IRU UHJLVWHULQJ FRPSODLQWV E\ LQYHVWRUV DQG LQYHVWRUV FDQ UHDFK WKH Corporation at [email protected] (p) Green Initiative : By virtue of Ministry of Corporate Affairs (“MCA”) Circular Nos. 17/2011 and 18/2011 dated April 21, 2011 and April 29, 2011 respectively, read with Rule 11 of the Companies ( Accounts) Rules, 2014, service of documents may be made to members through electronic mode. The Corporation has been sending Annual Reports in the past few years by email to all those members whose email addresses are registered in the member records as maintained by M/s Sharepro Services Pvt Ltd. Physical copies are also provided to such members on VSHFL¿FUHTXHVW 36 Annual Report 2014-2015 We therefore appeal to the members to join the ‘Green Initiative’ and request the members to register their name for receiving the said documents in electronic mode by sending an email giving their Registered Folio Number and/or DP Id/Client ID to the dedicated email address at [email protected] or login at the R&TA’s website www.shareproservices. com and register their request. 8. Non-Mandatory Requirements : &KDLUPDQ¶VRI¿FHH[SHQVHV 7KH &RUSRUDWLRQ UHLPEXUVHV VHFUHWDULDO DQG WUDYHO H[SHQVHV LQFXUUHG E\ WKH &KDLUPDQ¶V RI¿FHLQWKHSHUIRUPDQFHRIKLVGXWLHVRQWLPHVSHQWEDVLV 2. Shareholders’ rights: As the Corporation’s quarterly and half yearly results are published in English and regional newspapers having adequate circulation and are also posted on its website, they are not VHQW VHSDUDWHO\ WR WKH VKDUHKROGHUV RWKHU WKDQ RQ UHFHLSW RI VSHFL¿F UHTXHVW IURP DQ\ shareholder in this regard. 3. 4XDOL¿FDWLRQVLQ)LQDQFLDO6WDWHPHQWV 7KHUHDUHQRTXDOL¿FDWLRQVLQWKH$XGLWRUV¶5HSRUWRQWKHDFFRXQWVIRUWKH\HDU DECLARATION $VSURYLGHGXQGHU&ODXVH RIWKH/LVWLQJDJUHHPHQWZLWKWKH6WRFN([FKDQJHVWKLVLVWRFRQ¿UP WKDWDOOWKH'LUHFWRUVDQG0HPEHUVRI6HQLRU0DQDJHPHQWKDYHDI¿UPHGFRPSOLDQFHZLWKWKH&RGH RI&RQGXFWIRUWKH¿QDQFLDO\HDUHQGHGVW0DUFK For The Bombay Burmah Trading Corporation, Limited Ashok Panjwani Managing Director Mumbai, 22nd May, 2015 37 The Bombay Burmah Trading Corporation, Limited Annexure 1 BSE NSE MARKET DATA 2014-15 Month Month's High Month's Low No.of Shares Traded Value Rs Price (In `) Price(In `) (In Lakhs) BSE NSE BSE NSE BSE NSE BSE NSE Apr-14 115.90 115.90 98.00 97.50 574,310 1,225,989 617.75 1,324.24 May-14 134.00 134.25 100.50 100.10 690,101 1,403,383 821.99 1,683.34 Jun-14 164.50 164.70 122.00 123.05 2,083,589 4,206,208 3,115.12 6,287.33 Jul-14 228.30 228.50 122.00 117.65 3,863,938 9,165,164 7,167.03 17,428.06 Aug-14 220.70 220.80 186.00 186.00 2,363,175 5,013,548 4,767.05 10,159.90 Sep-14 291.30 291.65 198.60 198.15 3,232,167 7,127,526 8,096.42 17,793.67 Oct-14 265.80 266.00 208.25 206.95 1,203,990 2,361,584 2,962.89 5,811.90 Nov-14 481.00 480.85 258.80 255.00 4,180,492 11,170,615 15,556.08 42,258.95 Dec-14 542.20 541.60 355.10 354.55 3,265,432 8,070,099 14,273.27 35,771.00 Jan-15 503.00 503.90 366.00 364.75 3,036,212 7,388,297 13,952.08 34,011.17 Feb-15 483.50 482.60 401.65 380.00 2,304,580 4,344,975 10,295.86 19,529.98 Mar-15 550.00 550.00 412.60 412.55 3,041,134 6,645,990 14,915.87 32,383.61 Annexure 2 COMPANY SHARE PRICE AND BSE SENSEX- MONTHLY HIGH COMPANY SHARE PRICE AND BSE SENSEX - MONTHLY HIGH 600 31,000 480 24,800 360 18,600 240 12,400 BSE SENSEX BBTCL (Rs.) SHARE PRICE 120 6,200 0 0 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Share Price Sensex 38 Annual Report 2014-2015 CERTIFICATE $XGLWRU¶V&HUWL¿FDWHRQ&RPSOLDQFHZLWKWKH&RUSRUDWH*RYHUQDQFHUHTXLUHPHQWVXQGHU&ODXVH 49 of the Listing Agreement To the Members of The Bombay Burmah Trading Corporation, Limited :HKDYHH[DPLQHGWKHFRPSOLDQFHRIFRQGLWLRQVRIFRUSRUDWHJRYHUQDQFHE\7KH%RPED\%XUPDK Trading Corporation, Limited (“the Company”) for the year ended 31 March 2015, as stipulated in &ODXVH RIWKH/LVWLQJ$JUHHPHQWVHQWHUHGLQWRE\WKH&RPSDQ\ZLWK6WRFN([FKDQJHV The compliance of conditions of corporate governance is the responsibility of the management. 2XUH[DPLQDWLRQZDVOLPLWHGWRSURFHGXUHVDQGLPSOHPHQWDWLRQWKHUHRIDGRSWHGE\WKH&RPSDQ\ for ensuring the compliance of the conditions of Corporate Governance. It is neither an audit nor an H[SUHVVLRQRIRSLQLRQRQWKH¿QDQFLDOVWDWHPHQWVRIWKH&RPSDQ\ ,QRXURSLQLRQDQGWRWKHEHVWRIRXULQIRUPDWLRQDQGDFFRUGLQJWRWKHH[SODQDWLRQVJLYHQWRXV and the representations made by the directors and the management, we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the above mentioned Listing Agreements. We state that such compliance is neither an assurance as to the future viability of the Company QRUWKHHI¿FLHQF\RUHIIHFWLYHQHVVZLWKZKLFKWKHPDQDJHPHQWKDVFRQGXFWHGWKHDIIDLUVRIWKH Company. For B S R & Co. LLP Chartered Accountants Firm’s Registration No: 101248W / W-100022 Vijay Mathur Partner Membership No: 046476 Mumbai, 22nd May,2015 39 The Bombay Burmah Trading Corporation, Limited Annexure D CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY BACKGROUND The contribution will be made for any activities undertaken within India. The Corporate Social Responsibility (CSR) embodies the various initiatives and programs of the Wadia Committee will give preference to the local Group in the communities and environment area and areas around it where it operates in which Group Companies operate as also in spending the amount earmarked for CSR rural development activities including social activities. obligations under the Plantation laws applicable Surplus arising out of the CSR activities will to the BBTCL’s Plantation Division. It represents the continuing commitment and actions of the EHXWLOL]HGIRUWKHEHQH¿WRIWKHFRPPXQLW\ Group to contribute towards economic and V. ROLE OF BOARD OF DIRECTORS social development and growth. The role of the Board with respect to CSR is II. OBJECTIVE as under: The CSR Policy of The Bombay Burmah Trading 5HYLHZWKHUHFRPPHQGDWLRQVLQUHVSHFW Corporation, Limited (the Corporation) is being formulated and adopted in terms of Section 135 of annual budget for CSR; of the Companies Act, 2013 and the Rules made 'LVFORVH FRQWHQWV RI WKH 3ROLF\ LQ WKH thereunder. The Corporation will undertake Corporation’s report/website; and &65DFWLYLWLHVVSHFL¿HGLQ6FKHGXOH9,,WRWKH &RPSDQLHV$FW $QQH[XUH$ UHDGZLWK (QVXUH WKDW WKH &RUSRUDWLRQ VSHQGV Corporate Social Responsibility Rules, 2014. LQ HYHU\ ¿QDQFLDO \HDU DW OHDVW WZR III. CONSTITUTION OF CSR COMMITTEE SHUFHQWRIWKHDYHUDJHQHWSUR¿WVPDGH during the three immediately preceding The Board of Directors of the Corporation ¿QDQFLDO \HDUV RI WKH &RUSRUDWLRQ RQ has constituted a CSR Committee of CSR activities. Directors comprising of three directors out of which two are Independent Directors. VI. DISBURSEMENT OF CSR AMOUNT IV. ROLE OF CSR COMMITTEE The Corporation may undertake CSR The CSR Committee will play the following activities, on its own or by pooling the UROH LQ IXO¿OOLQJ WKH &RUSRUDWLRQ¶V &65 resources into Sir Ness Wadia Foundation objectives: RURWKHUQRWIRUSUR¿WRUJDQLVDWLRQV 1*2V or a combination thereof. 5HFRPPHQGDWLRQ RI WKH 3URMHFW Program to be undertaken within the long The CSR Committee will decide on term vision and strategy of Wadia Group the budget allocation for CSR Projects in respect of CSR activities, amount and Programs and the installments for RI H[SHQGLWXUH WR EH LQFXUUHG W\SH RI disbursement of amount. activities, roles and responsibilities of various stakeholders, etc. VII. PARTNERING ORGANISATIONS 5HFRPPHQGDWLRQRIUXUDOGHYHORSPHQW While undertaking any project or program activities / projects undertaken or to be with other partnering organizations, the undertaken by the Corporation in rural areas in which the Plantations division Corporation will undertake due diligence of the Corporation operates. to evaluate the NGO’s reputation, track record, capacity and competency, including )RUPXODWLRQRIDPRQLWRULQJPHFKDQLVP for ensuring implementation of the organization structure, requisite permits and Project / Program undertaken or the end licenses, presence in desired geography use of the amount spent by it towards and compatibility with the Group CSR CSR activities. Policy. 40 Annual Report 2014-2015 VIII.PROCESS FOR UNDERTAKING CSR put in by employees in CSR activities ACTIVITIES/PROJECTS THROUGH through annual appraisal system. The PARTNERING NGOs. +HDG+5ZLOOSOD\DVSHFL¿FUROHLQEXLOGLQJ The following procedure will be adhered to capacities, skills and talents under the while undertaking/ funding CSR activities/ concept of the Corporation’s broader vision projects through NGOs: on CSR. 3UHVHQWDWLRQRI3URMHFW3URJUDPGHWDLOV XI. SELF ASSESSMENT ([HFXWLRQ RI 0HPRUDQGXP RI The Corporation will introduce mechanism Understanding (MoU) with the Partnering for self-assessment of CSR activities NGOs, which will detail the key roles and SXUVXHGE\LWDQGVWULYHWRLPSURYHH[LVWLQJ responsibilities of each of the parties for policy and systems. It will also undertake DVSHFL¿HGSURMHFWRUSURMHFWVLGHQWL¿HG impact assessment of the development by the Wadia Group / the Corporation. projects on the target group. 6FKHGXOLQJ RI GLVEXUVHPHQWV RI IXQGV XII. DISSEMINATION OF INFORMATION relating to the program and monitoring system in accordance with pre-agreed The CSR Committee will report to the milestones with partners. Board of the Corporation from time to time the status of the CSR projects/ activities 7KH &RPPLWWHH ZKLOVW PDNLQJ DQ\ undertaken by it along with the report on the contribution will specify the activities for impact created by such projects/ activities. which it is made and the amount for the same. The Corporation would upload this Policy IX. MONITORING on its website www.bbtcl.com. A detailed status report on the CSR activities carried CSR Committee will institute a transparent out by the Corporation will be disclosed monitoring mechanism for implementation every year as part of the Directors’ Report of CSR Projects or Programs undertaken by in the Annual Report. The said information the Corporation or through NGOs. will also be uploaded on the website of the X. VOLUNTEERING Corporation. The Corporation will encourage and The CSR activities of the Corporation should enable employees and other stakeholders be visible through newsletters, websites, to participate in the projects supported press releases and Directors’ Annual Report by it through Employee Volunteering (as an integral part of business) articulated Programmes (EVP). on major occasions and employee / The Corporation will recognize the efforts shareholder / dealer meetings. 41 The Bombay Burmah Trading Corporation, Limited REPORT ON CSR ACTIVITIES - FY 2014-2015 1. A brief outline of the Corporation’s CSR policy, including overview of projects or programs proposed to be undertaken and a reference to the web-link to the CSR policy and projects or programs: a) CSR Policy is attached; b) Weblink:(http://bbtcl.com/csr-policy/) 2. The Composition of the CSR Committee: The Committee comprises of Mr. A K Hirjee, Mr. M. L. Apte (Independent Directors) and Mr.Jeh Wadia (Promoter Director). $YHUDJHQHWSUR¿WRIWKHFRPSDQ\IRUODVWWKUHH¿QDQFLDO\HDUV ` 1,208.55 lakhs. 3UHVFULEHG&65([SHQGLWXUH WZRSHUFHQWRIWKHDPRXQWDVLQLWHPDERYH ` 24.17 lakhs 'HWDLOVRI&65VSHQWGXULQJWKH¿QDQFLDO\HDU D 7RWDODPRXQWWREHVSHQWIRUWKH¿QDQFLDO\HDU ` 24.17 lakhs (b) Amount unspent, if any : Nil F 0DQQHULQZKLFKWKHDPRXQWZDVVSHQWGXULQJWKH¿QDQFLDO\HDULVGHWDLOHGEHORZ CSR Project Sector in which Projects or Amount Amount Cumulative Amount or activity the Project is programs outlay spent on the H[SHQGLWXUH spent: LGHQWL¿HG covered (budget) projects or upto to the Direct or (1) Local area project or programs reporting through or other; programs Sub-heads: period implemen- wise ` in lakhs ting agency (2)Specify ` in lakhs (1) Direct ` in lakhs the State and H[SHQGLWXUH district where on project or projects or programs; programs was undertaken (2)Overheads ` in lakhs Maintenance Transportation / Singampatti 24.17 66.62 66.62 Direct of Roads Infrastructure / and Mudis and other Rural Estates (Tamil Infrastructure Development Nadu) through the Estates situated in rural areas for public use 7KH&65&RPPLWWHHFRQ¿UPVWKDWWKHLPSOHPHQWDWLRQDQGPRQLWRULQJRI&653ROLF\LVLQFRPSOL- ance with CSR objectives and Policy of the Corporation For and on behalf of the CSR Committee of The Bombay Burmah Trading Corporation Ltd. The Bombay Burmah Trading Corporation Ltd. Mr. Nusli N. Wadia Mr. A K Hirjee Chairman Chairman, CSR Committee 42 Annual Report 2014-2015 Annexure ‘E’ Statement of Disclosure of Remuneration Under Section 197 of Companies Act, 2013 and Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 i. Ratio of the remuneration of each Managing Director to the median remuneration of the HPSOR\HHV RI WKH &RUSRUDWLRQ IRU WKH ¿QDQFLDO \HDU WKH SHUFHQWDJH LQFUHDVH LQ UHPXQHUDWLRQRI&RPSDQ\6HFUHWDU\GXULQJWKH¿QDQFLDO\HDU S. No Name of Director/ Designation Ratio of remuneration Percentage KMP of each Director to increase in median remuneration of Remunera - employees tion 1 Ness Wadia Managing Director 350.60 :1 40% 2 Ashok Panjwani Managing Director 182.74 :1 7% 3 Nitin H Datanwala Vice President Not applicable 7.9% Corporate & Company Secretary Note : revisions. Wage settlements and periodic D 7KH 1RQ([HFXWLYH 'LUHFWRUV RI WKH revisions are determined by the Planters’ Corporation were paid only sitting Associations of the respective States in fees during the year under review, the which the Estates are situated and in case details of which are provided in the of staff salaries, by the United Planters’ Corporate Governance Report. The Association of South India. As a result, ratio of remuneration and percentage average increase in remuneration of over LQFUHDVH IRU 1RQ([HFXWLYH 'LUHFWRUV¶ 90 % of the employees of the Corporation Remuneration is therefore not is not relatable to the performance of the considered for the purpose above. Corporation. b) Percentage increase in remuneration of v. The revenues for FY 2014-2015 were 5.2 % Managing Directors indicates annual total lower than that of FY 2013-2014. Average compensation increases, as approved increase in remuneration of MDs and KMPs by the Nomination and Remuneration in FY 2014-2015 was 18.3%. Committee of the Corporation during vi. The closing share price at BSE as on WKH¿QDQFLDO\HDU 31.3.2015 was ` 439.60 and at NSE was c) Employees for the purpose above ` 440.05 on a face value of ` 2/- and the includes all employees at all divisions of market capitalization as on 31.3.2015 the Corporation. was ` 3067.17 crores as compared to ` ii. The percentage increase in the median 677.83 crores as on 31.3.2014. The Corporation‘s shares are listed on BSE for UHPXQHUDWLRQRIHPSOR\HHVIRUWKH¿QDQFLDO year 2014-2015 was 9.94%. over 100 years and no public offer of shares has been made by the Corporation of over iii. There are 4,383 permanent employees on eighty years. the pay roll of the Corporation as on 31st March, 2015. vii. The P/E ratio as at 31.3.2015 was 435.25 as compared to 133.08 as at 31.3.2014. iv. Relationship between average increase in remuneration and Company’s performance: viii. During the year 2014-2015, no employee ZDV SDLG UHPXQHUDWLRQ LQ H[FHVV RI WKH Out of the 4383 employees of the highest paid Managing Director. Corporation, over 4000 are employed in the Plantations Division which is governed by the L[ 7KH UHPXQHUDWLRQ SDLG GXULQJ WKH \HDU Plantation Labour Act, 1951, and therefore 2014-2015 is as per the Remuneration Policy subject to industry-wise settlements and of the Corporation. 43 The Bombay Burmah Trading Corporation, Limited FORM NO. MGT 9 Annexure ‘F’ EXTRACT OF ANNUAL RETURN DVRQ¿QDQFLDO\HDUHQGHGRQ Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company (Management & Administration ) Rules, 2014. I. REGISTRATION AND OTHER DETAILS: i CIN L99999MH1863PLC000002 ii Registration Date 04/09/1863 iii Name of the Company The Bombay Burmah Trading Corporation, Ltd iv Category/Sub-category of the Company Limited Company v $GGUHVVRIWKH5HJLVWHUHGRI¿FH 9, Wallace Street, Fort, Mumbai 400001 & contact details vi Whether listed company Yes vii Name, Address & contact details of the Sharepro Services (India) Pvt. Ltd Registrar & Transfer Agent, if any. $%6DPKLWD:DUHKRXVLQJ&RPSOH[ 6DNL1DND7HOHSKRQH([FKDQJH/DQH Andheri(East), Mumbai 400072 II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY All the business activities contributing 10% or more of the total turnover of the company shall be stated Sr. Name and Description NIC Code of the Product/ % to total turnover of No. main products / services Service the Company 1 Tea 1271 35.93 2 Coffee 1272 11.49 3 Auto Electric Components 2930, 0271,0273 42.47 4 Dental Products 3250 9.15 III. PARTICULARS OF HOLDING , SUBSIDIARY & ASSOCIATE COMPANIES Sr Name & Address of CIN Holding/ % Of Applicable No the Company Subsidiary/ Shares Section Associate Held 1 Afco Industrial & U24110MH1983PLC012744 Subsidiary 100 2(87) Chemicals Ltd 2 Sea Wind Investment & U65993MH1988TLC047564 Subsidiary 100 2(87) Trading Co. Ltd 3 DPI Products & U85100MH1962PLC012345 Subsidiary 100 2(87) Services Ltd 4 Subham Viniyog Pvt. U65990MH1987PTC042358 Subsidiary 100 2(87) Ltd. 5 Leila Lands Sdn. Bhd Foreign Company Subsidiary 100 2(87) 6 Naira Holdings Ltd. Foreign Company Subsidiary 100 2(87) 7 Island Horti-Tech Foreign Company Subsidiary 100 2(87) Holdings Pte. Ltd. 44 Annual Report 2014-2015 Sr Name & Address of CIN Holding/ % Of Applicable No the Company Subsidiary/ Shares Section Associate Held 8 Leila Lands Ltd. Foreign Company Subsidiary 100 2(87) 9 Restpoint Investments Foreign Company Subsidiary 100 2(87) Ltd. 10 Island Landscape & Foreign Company Subsidiary 100 2(87) Nursery Pte. Ltd. 11 ILN Investments Pte. Foreign Company Subsidiary 100 2(87) Ltd. 12 Innovative Organics Foreign Company Subsidiary 58.80 2(87) Inc. 13 ABI Holding Ltd. Foreign Company Subsidiary 100 2(87) 14 Britannia Brands Ltd. Foreign Company Subsidiary 100 2(87) 15 Associated Biscuits Foreign Company Subsidiary 100 2(87) International Ltd. 16 Dowbiggin Enterprises Foreign Company Subsidiary 100 2(87) Pte. Ltd. 17 Nacupa Enterprises Foreign Company Subsidiary 100 2(87) Pte. Ltd. 18 Spargo Enterprises Pte. Foreign Company Subsidiary 100 2(87) Ltd. 19 Valletort Enterprises Foreign Company Subsidiary 100 2(87) Pte. Ltd. 20 Bannatyne Enterprises Foreign Company Subsidiary 100 2(87) Pte. Ltd. 21 Britannia Industries Ltd. L15412WB1918PLC002964 Subsidiary 50.75 2(87) 22 Saikjaya Holdings Foreign Company Subsidiary 100 2(87) Senderian Berhad 23 Granum Inc. Foreign Company Subsidiary 58.80 2(87) 24 Boribunder Finance & U65990MH1983PTC030883 Subsidiary 100 2(87) Investments Pvt. Ltd. 25 Flora Investments U65990MH1983PTC030875 Subsidiary 100 2(87) Company Pvt. Ltd. 26 Gilt Edge Finance & U65990MH1983PTC030884 Subsidiary 100 2(87) Investments Pvt. Ltd. 27 Ganges Valley Foods U15440WB1992PTC054793 Subsidiary 51.00 2(87) Pvt. Ltd. 28 International Bakery U15419TN1997PLC037876 Subsidiary 100 2(87) Products Ltd. 29 J. B. Mangharam Foods U15100MH1984PTC031983 Subsidiary 100 2(87) Pvt. Ltd. 30 Manna Foods Pvt. Ltd. U15400KA1994PTC015687 Subsidiary 100 2(87) 31 Sunrise Biscuit U15412AS1985PTC002361 Subsidiary 99.16 2(87) Company Pvt. Ltd. 32 Daily Bread Gourmet U01549KA2003PTC031859 Subsidiary 100 2(87) Foods (India) Pvt. Ltd. 33 Britannia Dairy Pvt. Ltd. U15201WB2002PTC191511 Subsidiary 100 2(87) 45 The Bombay Burmah Trading Corporation, Limited Sr Name & Address of CIN Holding/ % Of Applicable No the Company Subsidiary/ Shares Section Associate Held 34 Britannia and Foreign Company Subsidiary 100 2(87) Associates (Mauritius) Pvt. Ltd. 35 Britannia and Foreign Company Subsidiary 100 2(87) Associates (Dubai) Pvt. Company Ltd. 36 Al Sallan Food Foreign Company Subsidiary 65.46 2(87) Industries Company SAOG 37 Strategic Food Foreign Company Subsidiary 100 2(87) International Company LLC 38 Strategic Brands Foreign Company Subsidiary 100 2(87) Holding Company Ltd. 39 Britannia Dairy Foreign Company Subsidiary 100 2(87) Holdings Pvt. Ltd. 40 Britannia Employees U85110MH1992GAT24375 Subsidiary NA 2(87) Education Welfare Association Pvt Ltd. 41 Britannia Employees U91120MH19925PTC242376 Subsidiary NA 2(87) Medical Welfare Association Pvt Ltd. 42 Britannia Employees U85110MH1992GAT243304 Subsidiary NA 2(87) General Welfare Association Pvt Ltd. 43 Snacko Bisc Pvt Ltd U15419TN1997PLC037876 Subsidiary 100 2(87) 44 9DVQD $JUH[ +HUEV U01119TN1996PTC034766 Subsidiary 100 2(87) Pvt Ltd. 45 Peninsula Landscape & Foreign Company Subsidiary 100 2(87) Nursery Snd Bhd 46 Restpoint International Foreign Company Subsidiary 100 2(87) Technology Corpn 47 Lima Investment & U65990MH1988PTC047567 Associate 50 2(6) Trading Co. Pvt. Ltd 48 Cincinnati Investment & U65993MH1988PTC047463 Associate 50 2(6) Trading Co. Pvt. Ltd 49 Shadhak Investment & U65990MH1988PTC047734 Associate 50 2(6) Trading Pvt. Ltd 50 Roshnara Investment & U65990MH1988PTC046569 Associate 50 2(6) Trading Co. Pvt. Ltd 51 MSIL Investments Pvt. U65990MH1985PTC035497 Associate 50 2(6) Ltd 52 Lotus Viniyog Pvt. Ltd U67120MH1987PTC042172 Associate 50 2(6) 53 Medical U33100MH1991PLC061881 Associate 50 2(6) Microtechnology Ltd. 54 Harvard Plantations Ltd. U65120MH1988PLC048746 Associate 50 2(6) 55 Placid Plantations Ltd. U67120MH1988PLC048681 Associate 50 2(6) 46 Annual Report 2014-2015 year during the Shares Demat Physical Total % of Total Shares 0000 17000 0 17000 0.02 17000 0 17000 0.02 0 Demat Physical Total % of Total 45985745 45985745 65.91 45985745 45985745 65.91 0 State Govt." Category of Shareholders No. of Shares held at the beginning year No. of Shares held at the end year % change f) Insurance Companiesf) Insurance 675400 0 675400 0.97 675400 0 675400 0.97 0 e) Capital Fund Venture 0 0 d) State Govt.d) State 0 0 b) Banks/FIgovtc) Cenntral 80171 0 32750 112921 0.16 112923 32750 145673 0.21 0 0.05 A. Promoters (1) Indian a) Individual/HUF d) Bank/FI other e) Any (1)SUB TOTAL:(A) (2) Foreign Individualsa) NRI- 39844240 6141505 39844240 6141505 57.11 39844240 8.8 6141505 0 39844240 57.11 0 6141505 0 8.80 0 "b) Central Govt.or "b) Central (A)= (A)(1)+(A)(2)" SHAREHOLDING B. PUBLIC (1) Institutions Fundsa) Mutual 2000353 750 2001103 2.87 2672419 750 2673169 3.83 0.096 c) Bodies Corporatesc) Bodies 39827240 0 39827240 57.08 39827240 0 39827240 57.08 0 b) Other Individualsb) Other 0 0 0 c) Bodies Corp.c) Bodies 0 0 0 d) Banks/FIother…e) Any (A) (2)SUB TOTAL 6141505 0 0 6141505 8.8 6141505 0 6141505 8.80 0 0 "Total Shareholding of "Total Promoter IV. IV. (Equity Share capital Break up as % to total Equity) SHAREHOLDING PATTERN 47 The Bombay Burmah Trading Corporation, Limited year during the Shares Demat Physical Total % of Total Shares 00000000 00 0000 9159367 2699850 11859217 17.00 8457186 2586397 11043583 15.83 -1.17 1161315 68500 1229815 1.76 100252 68500 1071025 1.54 -0.22 Demat Physical Total % of Total 14930005 8856150 23786155 34.09 15045458 8740697 23786155 34.08 0.01 1 lakhs ` 1 lakhs ` holding nominal share capital upto shareholders holding nominal share capital in H[FHVVRI Custodian for Capital Funds" GDRs & ADRs" Category of Shareholders No. of Shares held at the beginning year No. of Shares held at the end year % change Grand Total (A+B+C)Grand Total 60915750 8856150 69771900 100 61031203 8740697 69771900 100 "h) Foreign Venture "h) Foreign SUB TOTAL (B)(1):SUB TOTAL Institutions (2) Non corporates a) Bodies i) Indianii) Overseas 2894563 33500 2928063 5660700 1460600 4.20 5660700 3484504 69700 1530300 33500 0 3518004 2.19 5.04 1679124 8.11 5660700 66700 0.84 5660700 1745824 2.50 0 0.31 8.11 0 NRI, Firign National NRI, Firign (B)(2):SUB TOTAL 12035442 8822650 20858092 29.88 11560954 8707197 20268151 29.05 -0.83 "Total Public Shareholding "Total g) FIIS 138639 0 138639 0.20 18850 0 18850 0.03 -0.17 i) Others (specify)i) Others portfolio foreign 0 0b) Individuals shareholders i) Individual 4912 4912 0.01 0.01 ii) Individuals c) Others (specify)c) Others 254160 323900 578060 0.82 422119 324900 747019 1.07 25 (B)= (B)(1)+(B)(2)" "C. Shares held by 48 Annual Report 2014-2015 Q year during the % change in shareholding Pledged / % of shares encumbered to total shares (0.40) (3.37) (2.44) shares of % of total the Company - - - Shares Number of PHUJHGZLWKWKDWRI6XQÀRZHU,QYHVWPHQW 7H[WLOHV3YW/WGR Pledged / % of shares encumbered to total shares Company % of total shares of the 34,500 0.05 34,500 0.05 Nil 992,520 1.42 0.82 992,520 1.42 0.14 Nil 112,625 0.16 112,625 0.16 Nil 278,000 0.40 - 1,305,000 1.87 0.86 1,305,000 1.87 Nil 9,817,275 14.07 0.72 9,817,275 14.07 0.72 Nil 2,248,120 3.22 6,576,120 9.43 2.08 6.21 1,252,200 1.79 1,252,200 1.79 Nil 1,700,000 2.44 2.44 - 2,350,000 3.37 3.37 - Shares 13,038,600 18.69 13,038,600 18.69 Nil Number of Jehreen Investments Ltd. and Lochness Investments Ltd. Jehreen Investments Ltd. and Lochness Shareholders’ Name Shareholding as on 1st April, 2014 Shareholding as on 31st March, 2015 Nowrosjee Wadia and Nowrosjee Wadia Sons Ltd. 1:([SRUWV/WG Nowrosjee Wadia and Nowrosjee Wadia Sons Ltd. 6XQÀRZHU,QYHVWPHQWV DQG7H[WLOHV3YW/WG Nusli Neville Wadia 6,136,505 8.80 6,136,505 8.80 Nil 1DWLRQDO3HUR[LGH/WG Wadia Investments Ltd.Wadia 2,472,500 3.54 2,472,500 3.54 Nil Archway Investment Co. Ltd. Total 45,985,745 65.91 8.21 45,985,745 65.91 2.94 - Varnilam Investments & Varnilam Co. Ltd. Trading Naperol Investments Ltd. 4,208,400 6.03 4,208,400 6.03 Nil Go Investments and Pvt. Ltd. Trading Lochness Investments Lochness Ltd.* 3RLQWHU([SRUW3YW/WG Ness Nusli WadiaNusli Neville WadiaMaureen Nusli WadiaJehangir Nusli Wadia Pvt. Ltd.Nessville Trading Jehreen Investments Ltd.* 5,000 5,000 8,500 17,500 3,500 0.01 0.01 0.01 0.03 - 5,000 17,500 5,000 8,500 3,500 0.01 0.03 0.01 0.01 - Nil Nil Nil Nil Nil (ii) Share Holding 0f Promoters *Holdings of merger of the said companies. 49 The Bombay Burmah Trading Corporation, Limited of the shares company % of total company shares of the No.of during the year shares the year No of shares % of total Cumulative Share holding during Reason Cumulative Shareholding holding in share- Decrease company shares of the the Year Date Increase/ 23.05.14 01.08.14 08.08.14 25,000 21.11.14 (88,327) transfer (11,673) transfer transfer 75,000 13.03.15 2,025,000 transfer 1,933,673 (193,200) 1,925,000 2,000,000 transfer 2.9 2.77 2.75 386,320 2,87 0.55 13.06.14 (500) transfer 161,000 0.23 01.08.14 12.09.14 (15,000) (5,000) transfer transfer 146,000 141,000 0.2 0.2 19.09.14 (5,000) transfer 136,000 0.19 27.11.14 (2,000) transfer 134,000 0.19 No Change No Change No. of Shares % of total Share holding at the beginning of of the shares Company % of total 2,000,000 2.87 the year beginning of Fund Shareholding Pattern of top ten Shareholders (other than Directors, Promoters & Holders of GDRs ADRs) of top ten Shareholders (other than Directors, Promoters Shareholding Pattern 1 & Industrial Ltd. Brothers Trading Wallace 5,659,700 8.11 Nil 5,659,700 8.11 2 Co. Ltd.-A/c. Savings Reliance Capital Trustee 34 The New India Assurance Co. Ltd. Akash Bhanshali 675,400 0.97 579,520 0.83 Nil 675,400 0.97 5 Jain Sunil Kumar 161,500 0.23 Sr No 10 Shareholders For Each of the Top At the At the end of year 45985745 65.91 45985745 65.91 Date wise increase/decrease in Promoters Share holding during the Date wise increase/decrease in Promoters allotment/ year specifying the reasons for increase/decrease (e.g. transfer/bonus/sweat equity etc) At the beginning of year 45985745 65.91 45985745 65.91 (iii) Change in Promoters’ Shareholding ( Specify if there is No Change) (iii) Change in Promoters’ (iv). 50 Annual Report 2014-2015 of the shares company % of total 0 No.of during the year shares Reason Cumulative Shareholding holding in share- Decrease Date Increase/ 12.12.14 (1,000) transfer 133,000 0.19 19.12.14 3,000 transfer 136,000 0.19 13.06.14 (6,744) transfer 131,005 0.18 12.09.14 (1,670) transfer 129,335 0.18 19.09.14 (2,000) transfer 127,335 0.18 30.09.14 (2,000) transfer 125,335 0.17 14.11.14 (5,335) transfer 120,000 0.17 28.11.14 (2,000) transfer 118,000 0.17 09.01.15 (2,000) transfer 116,000 0.17 13.02.15 06.03.15 20.03.15 (2,000) 09,05,14 transfer 2,000 18,000 13.06.14 transfer 20.06.14 transfer 46,911 (20,000) 93,000 transfer 95,000 (5,000) transfer 113,000 transfer 0.13 132,500 112,500 0.13 0.16 107,500 0.19 0.16 0.15 31.03.15 30.05.14 2,000 06.06.14 transfer 01.08.14 20,000 14.11.14 40,000 28.11.14 transfer 118,000 55,000 09.01.15 transfer 50,000 23.01.15 transfer (50,000) 100,000 transfer (50,000) 0.17 transfer 140,000 (50,000) transfer 195,000 transfer 245,000 0.14 195,000 0.2 145,000 0.27 95,000 0.35 0.27 18.07.14 01.08.14 0.2 27.03.15 0.13 (9,000) (98,500) transfer transfer 1,442 transfer 98,500 - 1,442 0.14 0.01 23.05.14 (20,000) transfer 80,000 0.11 06.06.14 (2,586) transfer 137,749 0.19 of the shares Company % of total the year beginning of 67 Pvt. Ltd. Dwarkadhish Trading Co. Pvt. Ltd. Hindustan Candle Mfg. 140,335 150,000 0.20 0.21 Nil 150,000 0.21 9 & Investment Services Pvt. Ltd. Phillip Finance 85,589 0.12 8 Services Ltd. Financial Wallfort 100,000 0.14 Sr No 10 Shareholders For Each of the Top At the 51 The Bombay Burmah Trading Corporation, Limited of the shares company % of total company shares of the No.of the year during the year shares No of shares % of total Cumulative Shareholding during Reason Cumulative Shareholding company shares of the holding in share- year Decrease Date Increase/ No.of shares % of total Shareholding at the end of 23.01.15 110,997 transfer 110,997 0.16 30.01.15 06.02.15 25,933 13.02.15 43,070 20.02.15 45,000 27.02.15 transfer 50,811 transfer 219,189 transfer 136,930 transfer transfer 180,000 225,000 275,811 0.19 495,000 30.09.14 0.25 0.32 0.39 10,000 0.7 transfer 124,000 0.18 31.03.15 25,541 transfer 520,541 0.75 of the shares Company % of total etc) 23.03.15 193,200 transfer 193,200 0.28 29.08.14 27,000 transfer 114,000 0.16 22.08.14 32,000 transfer 87,000 0.12 13.06.14 55,000 transfer 55,000 0.07 the reasons for the year specifying allotment/transfer/ Date wise increase/ bonus/sweat equity Share holding during decrease in Promoters decrease in Promoters increase/decrease (e.g. increase/decrease (e.g. the year beginning of of the year 23 A. K. Hirjee Mr. 4 Ness Wadia Mr. 5 Jeh Wadia Mr. M L Apte Mr. 1750 5000 3500 - - - - - 1750 5000 3500 0.01 0.01 - 0.01 1750 5000 3500 - 0.01 0.01 0.01 - - 1 Nusli N Wadia Mr. 6141505 - 6141505 8.82 6141505 8.82 10 Co. Ltd.-A/c. Elss Fund Reliance Capital Trustee - 11 Bhanshali Lata - 12 Sanika A. Shilotri - Sr No 10 Shareholders For Each of the Top At the Sl. No For Each of the Directors & KMP At the beginning (v) Managerial Personnel: Shareholding of Directors and Key 52 Annual Report 2014-2015 in Lakhs) 24316.67 ` ( Indebtedness Deposits Total ------12262.76 Loans Unsecured --- - 12262.76 Secured Loans excluding deposits excluding ------ (wef 28.3.2015) 67 E. Udwadia D. Mr. 8 Ashok Panjwani Mr. 9 Ms. Vinita Bali(upto 12.9.2014) P K Cassels (upto 28.3.2015) Mr. ------11 (Mrs.) Sheela Bhide Dr. 12 Datanwala H. N. Mr. ------10 (upto 28.3.2015) B N Tao Mr. ------Total (i+ii+iii)Total 24316.67 Net ChangeAmount,QGHEWHGQHVVDWWKHHQGRIWKH¿QDQFLDO\HDU i) Principal ii) Interest due but not paid 24191.05 11942.72 - - - - 24191.05 11942.72 Total (i+ii+iii)Total &KDQJHLQ,QGHEWHGQHVVGXULQJWKH¿QDQFLDO\HDU AdditionsReduction 12373.95 11942.72 - - 12373.95 11942.72 iii) Interest accrued but not due 125.62 - - 125.62 iii) Interest accrued but not due 111.19 - - 111.19 ii) Interest due but not paid - - - - ,QGHEWQHVVDWWKHEHJLQQLQJRIWKH¿QDQFLDO\HDU Amount i) Principal V. V. INDEBTEDNESS Indebtedness of the Company including interest outstanding/accrued but not due for payment 53 The Bombay Burmah Trading Corporation, Limited VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL A. Remuneration to Managing Director, Whole time director and/or Manager: Sl.No Particulars of Remuneration Name of the MD/WTD/ Total Manager Amount 1 Gross salary ASHOK NESS PANJWANI WADIA (a) Salary as per provisions contained in 11369820 18849600 30219420 VHFWLRQ RIWKH,QFRPH7D[ (b) Value of perquisites u/s 17(2) of the 3327744 10148800 13682860 ,QFRPHWD[$FW F 3UR¿WVLQOLHXRIVDODU\XQGHUVHFWLRQ --- RIWKH,QFRPH7D[$FW 2 Stock option - - - 3 Sweat Equity - - - 4 Commission - - - DVRISUR¿W --- others (specify) - - - 5 Retirals 3069851 5089392 8159243 Total (A) 17767415 34087792 52061523 Ceiling as per the Act 11400400 B. Remuneration to other directors: Sl.No Particulars of Remuneration Name of the Directors Total Amount 1 Independent Directors A K HIRJEE M L APTE D E UDWADIA (a) Fee for attending board 340000 360000 220000 - committee meetings (b) Commission ---- (c) Others, please specify ---- Total (1) 340000 360000 220000 920000 2 2WKHU1RQ([HFXWLYH'LUHFWRUV NUSLI JEH WADIA VINITA BALI - WADIA (a) Fee for attending 160000 120000 40000 - board committee meetings (b) Commission ---- (c) Others, please specify. - - - - Total (2) 160000 120000 40000 320000 Total (B)=(1+2) 1240000 Total Managerial Remuneration 54541523 54 Annual Report 2014-2015 Overall Ceiling as per the Act 12540440 C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD Sl. No. Particulars of Remuneration Key Managerial Personnel 1 Gross Salary Company CFO Total Secretary (a) Salary as per provisions contained in section 17(1) of 5644692 - 5644692 WKH,QFRPH7D[$FW E 9DOXHRISHUTXLVLWHVXV RIWKH,QFRPH7D[$FW -- 1961 F 3UR¿WVLQOLHXRIVDODU\XQGHUVHFWLRQ RIWKH -- ,QFRPH7D[$FW 2 Stock Option - - 3 Sweat Equity - - 4 Commission - - DVRISUR¿W -- others, specify - - 5 Bonus 800000 800000 Total 6444692 6444692 VII PENALTIES/PUNISHMENT/COMPPOUNDING OF OFFENCES Type Section of the Brief Details of Authority Appeal Companies Description Penalty/ (RD/NCLT/ made if Act Punishment/ Court) any (give Compounding details) fees imposed A. COMPANY Penalty Punishment NIL NIL Compounding B. DIRECTORS Penalty Punishment NIL NIL Compounding C. OTHER OFFICERS IN DEFAULT Penalty Punishment NIL NIL Compounding 55 The Bombay Burmah Trading Corporation, Limited MANAGEMENT DISCUSSION AND ANALYSIS 2014-15 I. Division-wise Business Analysis by 5.13 million kg and the average price per kg also declined by USD 0.24 (` 13.73). This Plantation Business: impacted the South India Tea Industry, since (a) Tea: in the past, Pakistan has picked up large Industry Structure and Developments: quantities of the medium and plainer CTCs from this market. (i) Indian Tea Crop* Prices continue to be under pressure owing FY’15 FY’14 Change to large stocks of plainer teas remaining Current Previous over XQVROGLQWKHPDUNHW/RZHUH[SRUWGHPDQG Year Year Previous negated the marginal decline in crops, Million Million Year particularly for South India Teas. Kgs Kgs Million Performance Highlights: Kgs North India 910 929 (-) 19 FY’14-15 FY’ 13-14 South India 223 226 (-) 3 Tea Crop Lakh Kgs 72.02 82.75 1133 1155 (-) 22 Tea Sales Lakh Kgs 72.57 79.24 LL ([SRUWV ` Crore 81.57 93.27 FY’15 FY’14 Change Tea production was lower by 12.96%. The Current Previous over overall tea sales were lower by 8.42% in terms Year Year Previous of volume at an average price realisation that Million Million Year was lower by 4.50% compared to previous Kgs Kgs Million year. Kgs North India 102 121 (-) 19 ([SRUWV South India 78 84 (-) 6 %%7&/ ([SRUWV RI 7HDLQFUHDVHG E\ LQ 180 205 (-) 25 WHUPV RI YROXPH 6RXWK ,QGLD H[SRUW YROXPH decline 7.14%) and reduced by 3.49% in terms *Source :Tea Board of India Apr.14 to Feb’15 of price realisation compared to previous Estimated 925 911 (+)14 \HDU 6RXWK,QGLDH[SRUWSULFHGHFOLQH Domestic 2UJDQLF TXDQWLW\ H[SRUWHG ZDV KLJKHU E\ Consumption 27.48% compared to previous year whilst price average declined by 6.16%. BBTC’s Non- ([SRUWVZHUHORZHUE\0LOOLRQ.JVRYHU Organic tea sales were higher by 2.23% by previous year, a decline of 12.2%. However volume. However, average price realised was South India Teas registered a volume lower by 8.03% compared to previous year. GHFOLQH RI LQ H[SRUWV RYHU SUHYLRXV year and price decline of 4.52%. Domestic Sales: Domestic sales volumes declined by 13.3% LLL ([SRUWSULFHV and the average domestic price declined by The average price realised on Indian 6.51% compared to previous year. The sales ([SRUWV GHFOLQHG E\ ` 7.10 per kg. North through Depots were lower by 13.04% by ,QGLD ([SRUW DYHUDJH ZDV ORZHU E\ ` 3.88 volume and 5.60% by average price realised SHUNJDVFRPSDUHGWR6RXWK,QGLD([SRUW respectively. Quantities sold through auctions average which was lower by ` 6.39 per kg. were lower by 14.06% by volume and 7.16% by price respectively compared to previous ([SRUWV WR &,6 FRXQWULHV 8. 86$ ZHUH year. However, BBTC performed better than ÀDW DW HDUOLHU \HDU¶V OHYHOV RWKHU FRXQWULHV auctions at which the average price during the declined. Shipments to Pakistan were lower period were lower by 16.45%. 56 Annual Report 2014-2015 Opportunities: World coffee demand continues to show VLJQL¿FDQW JURZWK ZLWK FRQVLGHUDEOH Increased sales of packaged teas and potential for further increases. More mature improved price points of major packaged tea markets such as the EU are relatively stable, brands will help the Corporation to improve while emerging markets, particularly in price realisation by tapping into the demand from major packers. The Corporation is also $IULFD DQG $VLD DUH UHFRUGLQJ VLJQL¿FDQW increase, albeit from a relatively lower base. evaluating moving up the value chain and approaching retailers directly for improving Our production for 2014-15 was as follows: margins. Bags (each Tonnes Threats: of 60 Kgs) Overall pressures due to large stocks and lower Arabica: Own beans 2,515 151 H[SRUW GHPDQG FRXOG SXW SUHVVXUH RQ SULFH realisations. The shift in consumer preferences Bought beans 1,148 69 especially in the younger generation, to ÀDYRXUHG WHDV DQG DOWHUQDWH EHYHUDJHV PD\ impact traditional tea consumption. Robusta: Own beans 8,677 521 Bought Outlook: beans 11,955 717 Large volumes of unsold stocks continue to Total: 24,295 1,238 depress the markets. These unsold stocks, Opportunities and Threats: mainly comprising of plainer and medium WHDV ZLOO LPSDFW RYHUDOO SULFHV /RZHU H[SRUW Demand for fully washed coffees is on the demand and higher costs of controlling pests increase as most producers have stopped or and diseases will put pressure on margin. There reduced the production of fully fermented would be good demand for better liquoring teas washed coffees, due to stricter pollution control required by major packers and bazaar buyers. norms. Installation and operationalisation of waste 7KH &RUSRUDWLRQ KDV EHQH¿WHG IURP WKH water treatment plant will mitigate our current investments made for upgrading quality in the SUREOHPRIWUHDWLQJODUJHYROXPHVRIHIÀXHQWV last several years and its ability to make better generated, allowing us to increase production liquoring teas. This will help the Corporation to of washed coffees and cash in on market improve the overall price realisation for its teas. shortages. (b) Coffee: ,QFUHDVHG UHTXLUHPHQWV DORQJZLWK FRQ¿UPHG Industry structure and developments: pre-season orders for Arabicas, make it attractive for higher procurement of bought Coffee production worldwide is estimated beans. at around 141.9 million bags (60 Kg/bag) Performance Highlights: in crop year 2014-15, while initial estimate of world coffee consumption in calendar The Corporation has continued to command \HDULVH[SHFWHGDW PLOOLRQEDJV better prices than market averages, due to suggesting resilient demand for coffee superior quality of our coffees. worldwide. A comparison of average prices are as follows: Grade Indian Corporation’s Indian Corporation’s Auction Average for Auction Average for 2013-14 Exports 2013-14 2014-15 Exports 2014-15 `/Kg. `/Kg. `/Kg. `/Kg. Washed Arabica 145.11 195.45 219.55 286.10 Washed Robusta 133.61 145.01 168.33 199.93 57 The Bombay Burmah Trading Corporation, Limited Outlook: performance of the industry has a direct impact on the division’s performance. Increase in coffee consumption, in Asia and Africa, combined with lower production in 1) Passenger Car segment in India had a Brazil and Vietnam, resulted in a shortfall of marginal growth in FY’14-15 after two VXSSO\LQ7KLVLVH[SHFWHGWRFRQWLQXH successive declines in the previous in 2015-16 possibly resulting in stabilisation or years. According to SIAM (Society of increase in prices. Indian Automobile Manufacturers), domestic car sales had a growth of However, the continued recession in Europe 4.06% at 2,416,862 units, from 2,322,578 KDVVHHQWKHPDUNHWEHFRPLQJH[WUHPHO\SULFH XQLWV LQ WKH SUHYLRXV \HDU7KH H[SRUWV sensitive, with roasters moving to cheaper of the car segment ended with a decline sources of supply. of 1.66% at 542,082 units from 551,218 units. Risks and concerns: 2) Commercial Vehicles posted a drop of Buyers in Europe are becoming more and more 2.83% at 614,961 units from 632,851 price sensitive, resulting in pricing pressures units in FY’13-14. However, the on our coffees. H[SRUWV LQ WKH VHJPHQW JUHZ at 85,742 units from 77,050 units. With Continued volatility in Arabica markets is mining activities resuming in certain PDNLQJIRUHFDVWLQJRIERXJKWEHDQVGLI¿FXOW parts of the country and a larger push Though current measures to control pest attack for infrastructure spending by the in Arabicas are showing encouraging results, it Government, the Commercial Vehicle will take a few years to recoup loss of plants of VHJPHQWVKRXOGEHQH¿WLQ)<¶ the past. 3) The two wheeler segment helped the industry by clocking a domestic sales (c) Auto Ancillary Business: growth of 8.09% at 16,004,581 units Industry Structure and Developments: from 14,806,778 in the previous year. The Indian Auto Components Industry 7KHH[SRUWVSRVWHGJURZWKRI DW continued to be daunted for the third year 2,457,597 units from 2,084,000 units in running due to unfavorable economic FY’13-14. conditions and poor market sentiments led Opportunities and Threats: by an atmosphere of uncertainty & volatility, growing input costs and high interest rates. Favourable Government policies like FRQFHVVLRQDO H[FLVH GXWLHV LQFUHDVHG FDU In the backdrop of this, the auto ¿QDQFH SHQHWUDWLRQ DXWRPRWLYH PLVVLRQ SODQ components sector witnessed a marginal the constitution of National Automotive Testing increase over the previous year mainly DQG 5 ' ,QIUDVWUXFWXUH 3URMHFW 1$75,3 WD[ due to improved market sentiments in the and focus on infrastructure will indirectly help latter part of the year with the formation of the auto industry. WKHQHZ*RYHUQPHQWDQGH[WHQVLRQRIWKH The major areas of concern are volatility in raw FRQFHVVLRQDO H[FLVH GXW\ RQ DXWR VHFWRU material costs, increase in input and labour until 31st December, 2014. costs. Globally, the automotive landscape is also Performance Highlights: witnessing unprecedented changes driven The segment-wise share of business for the E\ WKH QHHG IRU EHWWHU IXHO HI¿FLHQF\ division for the FY’14-15 was as follows : increased safety and stricter emission norms. The Indian auto components Segment FY’ 14-15 industry needs to gear-up to these changes in the rapidly changing global environment. Four Wheelers 85% Two Wheelers 7% Auto sector comprises 90% of Electromags division’s turnover and hence the Non-auto 8% 58 Annual Report 2014-2015 Even though the overall Auto Industry grew ÀXRULGDWLRQ WRRWKSDVWH ÀXRULGDWLRQ DQG marginally during the year, the major end growing awareness of dental hygiene have customers of the division did not post growth. led to improvements in the dental health Momentum of activities relating to new of Indians over the past 25 years further products development was affected by longer leading to greater demand for cosmetic WKDQ H[SHFWHG YDOLGDWLRQ WLPHOLQHV DW PDMRU and restorative dental treatment. Indian customer’s end. The division released new oral infrastructure has shown marked products of ` 5.21 Crores to production during improvement in the past 4-5 years but still FY’14-15. needs to be improved further, not only in rural areas but in urban areas as well. Outlook: In India, oral care infrastructure had 7KHGLYLVLRQLVDFWLYHO\H[SORULQJRSSRUWXQLWLHV 1,80,000 dentists as of 2014, serving 1.20 in the non-auto segment for the future. It has billion population. As far as overall ratio of also added new customers in the white goods dentist to population is concerned, there segment to improve the non-auto business was a marked improvement between 2009 share of the division. and 2014. In 2014, the dentist-to-population For FY’15-16 Sales projections contribution ratio in India was 1:6667. There are around IURP QHZ SURGXFWV GHYHORSPHQW LV H[SHFWHG 297 dental schools with 15,000 students New product segments, which are mainly with graduating each year; about 140 of such the intention of moving up the value chain, are schools have post graduate courses in DOVRH[SHFWHGWRGHOLYHUDGGLWLRQDOWXUQRYHURI YDULRXV¿HOGVRIGHQWLVWU\ ` 5 - 6 Crores during FY’15-16. The total market for the dental equipments Risks and concerns: and materials is estimated to be around USD 100 million annually. However the market in &XVWRPHU H[SHFWDWLRQV DUH UDSLGO\ LQFUHDVLQJ which the Dental Products division of the and state of the art manufacturing facilities Corporation operates is estimated at around with fully automated lines and in-house testing USD 9 million annually. IDFLOLWLHVDUHWKHEDVLFH[SHFWHGIDFLOLWLHVWRHDUQ contracts for manufacture of new products. Opportunities and Threats: Hence increased capital investments will be Growing awareness and patient required to upgrade manufacturing facilities so empowerment have led to demand for DVWRLQFUHDVHVKDUHRIEXVLQHVVZLWKH[LVWLQJ better healthcare facilities at affordable customers and also attract new customers. prices. Many Indians are now opting to There is also increased pressure on margins buy health insurance, clearly showing that GXHWRLQFUHDVHLQLQSXWFRVWVDQGH[SHFWDWLRQ growing segments of the population can of discounts from end customers to pass on our afford high quality treatments. VDYLQJVGXHWRKLJKHURSHUDWLRQDOHI¿FLHQFLHV According to various reports, growth rates Attrition levels and limited availability of stable between 15 and 20 per cent are forecast and trained manpower are also major concerns for the dental products market in the for the division. coming years. India is a net importer of dental equipments and supplies. Looking (d) Healthcare Business: at India’s rapidly growing dental market, many multinationals have set up facilities Industry Structure and Development in India. Quite a few Indian dental product The Indian healthcare industry is manufacturers are currently supplying H[SHULHQFLQJ TXLFN WUDQVIRUPDWLRQ RZLQJ quality dental equipment and materials. to the increasing demand for quality However a larger proportion is still imported. healthcare. In India, oral care is gaining Performance Highlights: increasing importance as part of overall health consciousness. Diseases such The Dental Products division has performed as dental caries and oral cancers are VDWLVIDFWRULO\ DQG DFKLHYHG KLJKHU SUR¿W major public health issues in India. Water compared to previous year. The sales 59 The Bombay Burmah Trading Corporation, Limited turnover of the Division’s key product Alloy to suggest improvements. declined by 17% compared to previous year as dentists prefer more composites The Internal Auditors of the respective then alloy for teeth restoration. However, operating Divisions monitor and evaluate the WKH GLYLVLRQ DFKLHYHG VLJQL¿FDQWO\ KLJKHU HI¿FDF\ DQG DGHTXDF\ RI LQWHUQDO ¿QDQFLDO turnover in other 2 key product group viz. control policies and procedures. The internal dental polymers and dental impression DXGLW SODQ DQG WKH UHSRUWV DQG ¿QGLQJV RI materials with polymers registering 48% WKHLQWHUQDODXGLWRUVRQWKHLQWHUQDO¿QDQFLDO growth and impression material registering control systems are periodically reviewed 36% growth compared to previous year. E\ WKH $XGLW &RPPLWWHH 6LJQL¿FDQW DXGLW observations and corrective actions thereon Outlook: are also presented to the Audit Committee The division anticipates that there will be of the Board. no major growth in Alloy sales in coming Based on the framework of internal year. However, the sales of Impression ¿QDQFLDO FRQWUROV DQG FRPSOLDQFH PDWHULDO DUH OLNHO\ WR JURZ VLJQL¿FDQWO\ DV systems established and maintained by the Division has a strategic plan in place the Corporation and duly reviewed by the on Alginate business in coming year. The management and the Audit Committee, the division is also looking forward to launch Board is of the opinion that the Corporation’s GHQWDO ;UD\ ¿OP GHYHORSHU ¿[WXUHV E\ LQWHUQDO ¿QDQFLDO FRQWUROV ZHUH DGHTXDWH taking up trading activities in this area. and operating effectively during the year II. Internal Control Systems and Adequacy: under review. The Corporation has adequate internal III. Human Resources: control procedures commensurate with The Corporation regards human resources its size and nature of business. These as a valuable asset. The Corporation business control procedures ensure evaluates performance of all employees HI¿FLHQWXVHDQGSURWHFWLRQRIWKHUHVRXUFHV on quarterly basis. Key result areas of all and also compliance with the policies, HPSOR\HHV KDYH EHHQ ZHOO GH¿QHG 7KH procedures and statutory requirements. Corporation has initiated incentive schemes The internal control systems provide for IRU DOO HPSOR\HHV WR UHZDUG H[FHSWLRQDO well documented guidelines, authorization performance. The training needs of all and approval procedures. The Corporation employees are periodically assessed and carries out audit of the same through internal training programs are conducted using auditors. The prime objective of such audit internal resources and also by engaging LV WR WHVW WKH H[LVWHQFH DGHTXDF\ DQG H[WHUQDOWUDLQHUVIDFLOLWDWRUV RSHUDWLQJHI¿FLHQF\RIDOOLQWHUQDO¿QDQFLDO controls laid down by the management and Dated: 22nd May, 2015 Cautionary Statement: Statements in the Management Discussion and Analysis describing the Corporation’s objectives, projections, estimates, and expectations may be ‘forward-looking statements’ within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Corporation’s operations include economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Corporation operates, changes in the Government regulations, tax laws, vagaries of nature and other incidental factors. 60 Annual Report 2014-2015 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE BOMBAY BURMAH TRADING CORPORATION, LIMITED Report on the Standalone Financial Statements :H KDYH DXGLWHG WKH DFFRPSDQ\LQJ VWDQGDORQH ¿QDQFLDO VWDWHPHQWV RI 7KH %RPED\ %XUPDK 7UDGLQJ&RUSRUDWLRQ/LPLWHG ³WKH&RPSDQ\´ ZKLFKFRPSULVHWKH%DODQFH6KHHWDVDW0DUFK WKH6WDWHPHQWRI3UR¿WDQG/RVVDQGWKH&DVK)ORZ6WDWHPHQWIRUWKH\HDUWKHQHQGHGDQG DVXPPDU\RIWKHVLJQL¿FDQWDFFRXQWLQJSROLFLHVDQGRWKHUH[SODQDWRU\LQIRUPDWLRQLQZKLFKDUH LQFRUSRUDWHGWKH5HWXUQVIRUWKH\HDUHQGHGRQWKDWGDWHDXGLWHGE\WKHEUDQFKDXGLWRUVRIWKH &RPSDQ\¶VEUDQFKHVDW-RKRU%DKUXLQ0DOD\VLD8VDPEDUDLQ7DQ]DQLDDQG3ODQWDWLRQVGLYLVLRQ 6RXWK,QGLD Management’s 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16,553.30 'HIHUUHGWD[DVVHWV QHW 4 104.81 - /RQJWHUPORDQVDQGDGYDQFHV 13 8,066.25 7,339.55 2WKHUQRQFXUUHQWDVVHWV 14 30.01 27.87 24,746.87 23,920.72 &855(17$66(76 ,QYHQWRULHV 15 9,899.07 8,406.61 7UDGHUHFHLYDEOHV 16 4,903.00 4,332.62 &DVKDQGEDQNEDODQFH 17 5,428.68 589.90 6KRUWWHUPORDQVDQGDGYDQFHV 18 9,224.27 2,761.65 2WKHUFXUUHQWDVVHWV 19 1,943.88 339.79 31,398.90 16,430.57 727$/ 67,359.05 51,337.93 SIGNIFICANT ACCOUNTING POLICIES I 7KHQRWHVUHIHUUHGWRDERYHIRUPDQLQWHJUDOSDUWRIWKH)LQDQFLDO6WDWHPHQWV $VSHURXUDWWDFKHGUHSRUWRIHYHQGDWH )RU%65 &R//3 )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI &KDUWHUHG$FFRXQWDQWV 7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/LPLWHG )LUP¶V5HJLVWUDWLRQ1R:: >&,1 / 0+3/&@ 9LMD\0DWKXU $3$1-:$1, 0/$37( 186/,1:$',$ 3DUWQHU 0DQDJLQJ'LUHFWRU 'LUHFWRU &KDLUPDQ 0HPEHUVKLS1R >',1 @ >',1 @ >',1 @ 1(66:$',$ -(+:$',$ $.+,5-(( 0DQDJLQJ'LUHFWRU 'LUHFWRU 9LFH&KDLUPDQ >',1 @ >',1 @ >',1 @ 1+'$7$1:$/$ '(8':$',$ 0XPEDL 9LFH3UHVLGHQW&RUSRUDWH 'LUHFWRU QG0D\ DQG&RPSDQ\6HFUHWDU\ >',1 @ 66 Annual Report 2014-2015 STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2015 `LQ/DNKV Note For the For the year ended year ended 31st March, 31st March, 2015 2014 INCOME 5HYHQXHIURP2SHUDWLRQV 6DOHRI3URGXFW 20 23,925.84 27,464.30 /HVV ([FLVHGXW\ 20 622.56 767.24 23,303.28 26,697.06 6DOHRI6HUYLFH 20 20.56 25.04 2WKHU2SHUDWLQJ5HYHQXHV 20 740.73 755.16 24,064.57 27,477.26 2WKHULQFRPH 21 3,557.65 1,669.07 27,622.22 29,146.33 EXPENDITURE &RVWRIPDWHULDOVFRQVXPHG 22 7,804.60 8,655.57 3XUFKDVHVRIVWRFNLQWUDGH 22 1,471.63 845.05 &KDQJHVLQLQYHQWRULHVRI¿QLVKHGJRRGVZRUNLQSURJUHVV 22 (1,077.55) 1,003.23 DQGVWRFNLQWUDGH (PSOR\HHEHQH¿WV 23 7,291.01 7,217.84 )LQDQFHFRVWV 24 2,694.45 2,151.01 'HSUHFLDWLRQDQGDPRUWLVDWLRQ 693.43 766.13 /HVV 7UDQVIHUIURP5HYDOXDWLRQ5HVHUYH (6.59) (6.59) 2WKHUH[SHQVHV 25 7,657.85 7,765.91 &RVWUHODWLQJWR5HDOHVWDWHXQGHUGHYHORSPHQW 26 90.70 25.21 26,619.53 28,423.36 3UR¿WEHIRUHWD[ 1,002.69 722.97 7D[H[SHQVH &XUUHQWWD[H[SHQVHIRUFXUUHQW\HDU 269.75 177.00 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13,038,600 18.69 13,038,600 18.69 /LPLWHG 2 1:([SRUWV/LPLWHG 9,817,275 14.07 9,817,275 14.07 6XQÀRZHU ,QYHVWPHQWV 7H[WLOHV 6,576,120 9.43 - - 3ULYDWH/LPLWHG 1DSHURO,QYHVWPHQWV/LPLWHG 4,208,400 6.03 4,208,400 6.03 5 0U1XVOL1HYLOOH:DGLD 6,141,505 8.81 6,141,505 8.81 6 :DOODFH %URWKHUV 7UDGLQJ 5,660,700 8.11 5,660,700 8.11 ,QGXVWULDO/LPLWHG8. 45,442,600 65.14 38,866,480 55.71 Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 2 RESERVES AND SURPLUS &DSLWDOUHVHUYH $WWKHFRPPHQFHPHQWDQGHQGRIWKH\HDU 89.47 89.47 Securities premium account $WWKHFRPPHQFHPHQWDQGHQGRIWKH\HDU 3,637.21 3,637.21 5HYDOXDWLRQUHVHUYH 2SHQLQJEDODQFH 440.26 446.85 /HVV 8WLOLVHGIRUVHWRIIDJDLQVWGHSUHFLDWLRQ (6.59) (6.59) &ORVLQJEDODQFH 433.67 440.26 *HQHUDOUHVHUYH 2SHQLQJEDODQFH 4,085.86 4,034.56 /HVV 'HSUHFLDWLRQLPSDFWGXHWRFKDQJHLQOLIHRI¿[HGDVVHWVRQDSSOLFDWLRQ (737.67) - RI6FKHGXOH,,RIWKH&RPSDQLHV$FW 5HIHU1RWH $GG 7UDQVIHUIURP6XUSOXVLQ6WDWHPHQWRI3UR¿WDQG/RVV - 51.30 &ORVLQJEDODQFH 3,348.19 4,085.86 )RUHLJQFXUUHQF\WUDQVODWLRQUHVHUYH 2SHQLQJEDODQFH 97.70 48.33 $GG (IIHFWRIIRUHLJQH[FKDQJHUDWHYDULDWLRQVGXULQJWKH\HDU (61.00) 49.37 &ORVLQJEDODQFH 36.70 97.70 6XUSOXVLQ6WDWHPHQWRI3UR¿WDQG/RVV 2SHQLQJEDODQFH 16,848.19 17,203.00 $GG 3UR¿WIRUWKH\HDU 702.94 512.79 /HVV $SSURSULDWLRQV 3URSRVHG'LYLGHQG GLYLGHQGSHUVKDUH` IRUHYHU\VKDUHRI` HDFK 3UHYLRXV The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 3 LONG-TERM BORROWINGS Secured Loans (Refer note below) 7HUPORDQVIURPEDQNV 9,875.00 6,300.00 /RDQDJDLQVWYHKLFOHV 10.24 18.38 727$/ 9,885.24 6,318.38 1RWH 'HWDLOVRIWHUPVUHODWHGWRUHSD\PHQWDQGVHFXULW\RQVHFXUHGORDQV 7HUPORDQVIURPEDQNV Terms of repayment and security $[LV%DQN 5HIHUQRWH D - 6,300.00 +')&%DQN 5HIHUQRWH E 2,375.00 - .RWDN%DQN 5HIHUQRWH F 5,000.00 - +6%&%DQN 5HIHUQRWH G 2,500.00 - 727$/ 9,875.00 6,300.00 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'LIIHUHQFHEHWZHHQZULWWHQGRZQYDOXHRI¿[HGDVVHWVDVSHUERRNVDQG 506.36 533.96 DVSHU'LUHFW7D[/DZV /HVV 'HIHUUHG7D[$VVHW 3URYLVLRQIRU'RXEWIXO'HEWV$GYDQFHV&RQWLQJHQFLHV (278.95) (325.09) 3URYLVLRQIRU(PSOR\HH%HQH¿WV (131.87) (87.48) 8QDEVRUEHGEXVLQHVVDQGGHSUHFLDWLRQORVV 5HIHU1RWHEHORZ (200.35) - 1HW'HIHUUHG7D[ $VVHW /LDELOLW\ (104.81) 121.39 1RWH 8QDEVRUEHGEXVLQHVVDQGGHSUHFLDWLRQORVVLVDULVLQJEHFDXVHRIKLJKHUGHSUHFLDWLRQFODLPHGDVSHU,QFRPH 7D[$FW 5 OTHER LONG TERM LIABILITIES 6HFXULW\GHSRVLW 46.13 45.79 727$/ 46.13 45.79 6 LONG-TERM PROVISIONS )ULQJH %HQH¿W 7D[DWLRQ 1HW RI $GYDQFH WD[ ` 7.84 Lakhs 2.16 2.16 (Previous Year - ` 7.84 Lakhs) 3URYLVLRQIRURWKHUFRQWLQJHQFLHV 5HIHU1RWH - 190.00 727$/ 2.16 192.16 7 SHORT-TERM BORROWINGS Loans (Refer Note below) - Secured )URP%DQNV 7,773.46 5,417.97 - Unsecured (repayable on demand) )URP%DQNV 6,500.00 6,617.76 Intercorporate Deposits (repayable on demand) )URP2WKHUV 1,000.00 132.00 )URP5HODWHG3DUWLHV 5HIHU1RWH 4,000.00 65.00 727$/ 19,273.46 12,232.73 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS Note 7 contd. 'HWDLOVRIVHFXULW\IRUWKHVHFXUHGVKRUWWHUPERUURZLQJV `LQ/DNKV Nature of Security As at 31st As at 31st March, 2015 March, 2014 6HFXUHG/RDQVIURPEDQNV Cash Credit / WCDL, Short term loans and Packing Credit $[LV%DQN 5HIHUQRWH D 895.20 1,031.81 +')&%DQN 5HIHUQRWH E F 2,214.26 4,386.16 +6%&%DQN 5HIHUQRWH G 4,431.75 - )HGHUDO%DQN 5HIHUQRWH H 232.25 - 727$/ 7,773.46 5,417.97 8QVHFXUHGDQGUHSD\DEOHRQGHPDQG )URP%DQNV 5HIHUQRWH I 6,500.00 6,617.76 727$/ 6,500.00 6,617.76 ,QWHUFRUSRUDWH'HSRVLWV )URP2WKHUV 5HIHUQRWH J 1,000.00 )URP5HODWHG3DUWLHV 5HIHUQRWH K 4,000.00 727$/ 5,000.00 D &DVK &UHGLW IURP $[LV %DQN /LPLWHG RI ` 895.20 Lakhs (Previous Year ` 1,031.81 Lakhs) LV VHFXUHG E\ K\SRWKHFDWLRQRISUHVHQWDQGIXWXUHVWRFNVERRNGHEWVDQGRWKHUFXUUHQWDVVHWVRQSDULSDVVXEDVLVDQGD FROODWHUDORQ(ONKLOO(VWDWHV7KHUDWHRILQWHUHVWRQWKHORDQLVUDQJLQJIURPWR E &DVK&UHGLWIURP+')&%DQN/LPLWHGRI` 1,960.27 Lakhs (Previous Year ` 1,532.33 Lakhs)LVVHFXUHGE\ K\SRWKHFDWLRQRISUHVHQWDQGIXWXUHVWRFNVERRNGHEWVDQGRWKHUFXUUHQWDVVHWVRQSDULSDVVXEDVLVDQGD FROODWHUDORQ6LQJDPSDWWL(VWDWHV7KHUDWHRILQWHUHVWRQWKHORDQLVUDQJLQJIURPWR F 6KRUWWHUPORDQDQG$JULFXOWXUHORDQIURP+')&%DQN/LPLWHGRI` Nil Lakhs (Previous Year ` 2,500 Lakhs) and ` 253.99 Lakhs (Previous Year ` 353.83 Lakhs)LVVHFXUHGE\K\SRWKHFDWLRQRISUHVHQWDQGIXWXUHVWRFNV ERRNGHEWVDQGRWKHUFXUUHQWDVVHWVRQSDULSDVVXEDVLVDQGDFROODWHUDORQ6LQJDPSDWWL(VWDWHV7KHUDWHRI LQWHUHVWRQWKHORDQLVUDQJLQJIURP WR G 3DFNLQJ &UHGLW &DVK &UHGLW :&'/ IURP 7KH +RQJNRQJ DQG 6KDQJKDL %DQNLQJ &RUSRUDWLRQ /LPLWHG RI `/DNKV(Previous Year ` Nil Lakhs)LVVHFXUHGE\K\SRWKHFDWLRQRISUHVHQWDQGIXWXUHVWRFNVERRN GHEWVDQGRWKHUFXUUHQWDVVHWVRQSDULSDVVXEDVLVDQGDFROODWHUDORQ0XGLV(VWDWHV7KHUDWHRILQWHUHVWRQ WKHORDQLVUDQJLQJIURP WR H 3DFNLQJFUHGLWIURP)HGHUDO%DQN/LPLWHGRI` 232.25 Lakhs (Previous Year ` Nil Lakhs)LVVHFXUHGE\ K\SRWKHFDWLRQRISUHVHQWDQGIXWXUHVWRFNVERRNGHEWVDQGRWKHUFXUUHQWDVVHWVRQSDULSDVVXEDVLV7KH UDWHRILQWHUHVWRQWKHORDQLV0RQWKV/,%25SOXV I 2XWVWDQGLQJXQVHFXUHGORDQRI` 6,500.00 Lakhs (Previous Year ` 6,617.76)LVSD\DEOHWREDQNV7KHWHQXUH RIORDQLVVKRUWWHUPDQGLWLVUHSD\DEOHRQGHPDQG7KHUDWHRILQWHUHVWRQWKHORDQLVUDQJLQJIURP WR J 'XULQJWKH\HDUWKH&RUSRUDWLRQKDVREWDLQHG,QWHUFRUSRUDWH'HSRVLWIURPRWKHUVZKLFKFDUULHVLQWHUHVW #,WLVXQVHFXUHGDQGUHSD\DEOHRQGHPDQG K 'XULQJ WKH \HDU WKH &RUSRUDWLRQ KDV REWDLQHG ,QWHUFRUSRUDWH 'HSRVLW IURP %ULWDQQLD ,QGXVWULHV /LPLWHG 6XEVLGLDU\FRPSDQ\ ZKLFKFDUULHVLQWHUHVW#,WLVXQVHFXUHGDQGUHSD\DEOHRQGHPDQG Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 8 TRADE PAYABLES 7UDGHSD\DEOHV 'XHWR0LFUR6PDOODQG0HGLXP(QWHUSULVHV 5HIHU1RWH - - 2WKHUV 2,633.40 2,295.54 727$/ 2,633.40 2,295.54 9 OTHER CURRENT LIABILITIES 7R5HODWHGSDUWLHV ([SHQVHVSD\DEOH 30.61 35.57 7RRWKHUWKDQ5HODWHGSDUWLHV &XUUHQWPDWXULWLHVRIORQJWHUPGHEW 5HIHU1RWHEHORZ 6,532.35 526.41 ,QWHUHVWDFFUXHGEXWQRWGXHRQERUURZLQJV 125.63 118.07 8QSDLGGLYLGHQGV 94.39 86.88 6HFXULW\GHSRVLWV 321.45 320.45 $GYDQFHVIURPFXVWRPHUV 11.18 19.71 2WKHUSD\DEOHV 6WDWXWRU\OLDELOLWLHV 156.87 144.78 (PSOR\HHV 88.46 256.56 ([SHQVHVSD\DEOH 5HIHUQRWH 859.57 682.74 727$/ 8,220.51 2,191.17 ,QFOXGHV6HUYLFHWD[9$77'6([FLVHGXW\3URYLGHQWIXQGDQG(6,& 1RWH &XUUHQWPDWXULWLHVRIORQJWHUPGHEWV Secured Loans )URP%DQNV 5HIHU1RWHD E 6,525.00 500.00 /RDQDJDLQVWYHKLFOH 5HIHU1RWHH 7.35 26.41 727$/ 6,532.35 526.41 10 SHORT-TERM PROVISIONS 3URYLVLRQIRUHPSOR\HHEHQH¿WV *UDWXLW\ 5HIHU1RWH 186.05 273.33 &RPSHQVDWHGDEVHQFHV 222.13 175.25 3HQVLRQDQG6XSHUDQQXDWLRQIXQGV 127.58 80.93 535.76 3URYLVLRQIRUWD[ 1HWRIDGYDQFHWD[ 269.75 - 3URYLVLRQIRUSURSRVHGHTXLW\GLYLGHQG 697.72 697.72 3URYLVLRQIRUWD[RQSURSRVHGGLYLGHQGV - 118.58 727$/ 1,503.23 1,345.81 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS HV VW as at 9DOXH 993.87 0DUFK ` LQ/DNKV 1HW%RRN ` VW as at 2015 9DOXH 0DUFK 1HW%RRN HHV 5XSHHV 5XSHHV tion WLRQ 2015 WRVW 0DUFK 727$/ 'HSUHFLD $PRUWLVD to WKHOHQGHUKDVDOLHQ \HDU 5HIHU EHORZ 1RWH F 7UDQVIHU 5HVHUYHV GXULQJWKH the \HDU GXULQJWKH 'HGXFWLRQ YHVZHUHH[KDXVWHGDVRQVW$SULODJJUHJDWHGWR IRU the tion \HDU QDPHRIWKH&RPSDQ\¶VQRPLQHHZKLFKLQFOXGHVFRVWRIVKDU WLRQ 'HSUHFLD $PRUWLVD on %DODQFH Opening &XUUHQF\ $OLJQPHQW tion WLRQ lated as on 1st $FFXPX 'HSUHFLD $PRUWLVD $SULO 2015 EHLQJFRVWRI$VVHWVSXUFKDVHGRQ+LUH3XUFKDVHEDVLVRQZKLFK &RVW 0DUFK &RVWRU %DODQFH 5HYDOXHG DVDWVW on LPLWHG 209.47 lakhs) ` %DODQFH Opening &XUUHQF\ $OLJQPHQW HUWKH&RPSDQLHV$FWWKHYDOXHRIDVVHWVZKRVHXVHIXOOL NOTES FORMING PART OF THE FINANCIAL STATEMENTS FORMING PART NOTES LQUHVSHFWRIZKLFKGRFXPHQWVHYLGHQFLQJWLWOHDUHKHOGLQWKH the \HDU GXULQJ &RVWRI 7UDQVIHUV (Previous Year - 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Trade )XOO\SDLGDW&RVW 3UHYLRXV B. 2WKHULQYHVWPHQWV D ,QYHVWPHQW LQ HTXLW\ LQVWUXPHQWV L 2IVXEVLGLDULHV 3UHYLRXV The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV As at 31st March, 2015 As at 31st March, 2014 Quoted Unquoted Total Quoted Unquoted Total 3UHYLRXV Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV As at 31st March, 2015 As at 31st March, 2014 Quoted Unquoted Total Quoted Unquoted Total LLL RIRWKHUHQWLWLHV 3UHYLRXV The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV As at 31st March, 2015 As at 31st March, 2014 Quoted Unquoted Total Quoted Unquoted Total E ,QYHVWPHQW LQ *RYHUQPHQW VHFXULWLHV 3UHYLRXV 7RWDO2WKHULQYHVWPHQWV % 9,869.86 6,675.88 16,545.74 9,869.86 6,683.38 16,553.24 Total (A+B) 9,869.86 6,675.94 16,545.80 9,869.86 6,683.44 16,553.30 /HVV 3URYLVLRQIRUGLPLQXWLRQ LQYDOXHRILQYHVWPHQWV ------Total 9,869.86 6,675.94 16,545.80 9,869.86 6,683.44 16,553.30 $JJUHJDWHDPRXQWRITXRWHG investments 9,869.86 9,869.86 $JJUHJDWH PDUNHW YDOXH RI OLVWHGDQGTXRWHGLQYHVWPHQWV 18,954.47 16,404.43 $JJUHJDWH DPRXQW RI XQTXRWHGLQYHVWPHQWV 6,675.94 6,683.44 `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 13 LONG-TERM LOANS AND ADVANCES Unsecured and Considered good To Related parties *URXS&RPSDQLHV 5HIHU1RWH 3,870.00 3,870.00 /RDQVGXHIURP.H\0DQDJHULDO3HUVRQV 5HIHU1RWH 62.00 50.00 7RSDUWLHVRWKHUWKDQ5HODWHGSDUWLHV 6HFXULW\GHSRVLWV 175.71 131.69 &DSLWDODGYDQFHV 52.34 6.26 $GYDQFHVWRHPSOR\HHV 78.37 92.02 $GYDQFHLQFRPHWD[ QHWRISURYLVLRQIRUWD[ 597.97 378.22 %DODQFHVZLWKJRYHUQPHQWDXWKRULWLHV 194.26 19.26 ,QWHUFRUSRUDWHGHSRVLW 2,830.00 2,730.00 3UHSDLGH[SHQVHV 20.70 20.00 $GYDQFHVUHFRYHUDEOHLQFDVKRUNLQG 184.90 42.10 Unsecured and Considered Doubtful 9$7FUHGLWUHFHLYDEOH 1.86 1.86 'HSRVLWWRZDUGVFRQWLQJHQWOLDELOLWLHV 5HIHU1RWH' - 25.00 ([FLVHGXW\UHFHLYDEOH 122.47 122.47 $GYDQFHVUHFRYHUDEOHLQFDVKRUNLQG 85.10 124.86 8,275.68 7,613.74 /HVV 3URYLVLRQIRUGRXEWIXO/RDQVDQG$GYDQFHV 209.43 274.19 727$/ 8,066.25 7,339.55 Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 14 OTHER NON CURRENT ASSETS 1RQFXUUHQWSRUWLRQRIRWKHU%DQNEDODQFHV 30.01 27.87 727$/ 30.01 27.87 15 INVENTORIES $WORZHURIFRVWDQGQHWUHDOLVDEOHYDOXH 5DZPDWHULDOV 543.28 476.75 :RUNLQSURJUHVV 354.40 295.24 )LQLVKHGJRRGV RWKHUWKDQWKRVHDFTXLUHGIRUWUDGLQJ 5,867.70 3,880.41 6WRFNLQWUDGH DFTXLUHGIRUWUDGLQJ 32.99 1,001.89 6WRUHVDQGVSDUHVLQFOXGLQJ/RRVH7RROV 685.38 612.21 5HDO(VWDWHXQGHUGHYHORSPHQW 2,415.32 2,140.12 727$/ 9,899.07 8,406.61 16 TRADE RECEIVABLES Unsecured 7UDGHUHFHLYDEOHVRXWVWDQGLQJIRUDSHULRGH[FHHGLQJVL[PRQWKVIURPWKH GDWHWKH\ZHUHGXHIRUSD\PHQW FRQVLGHUHGJRRG 156.77 212.16 FRQVLGHUHGGRXEWIXO 444.85 344.85 601.62 557.01 /HVV 3URYLVLRQIRUGRXEWIXOWUDGHUHFHLYDEOHV 444.85 344.85 156.77 212.16 2WKHUWUDGHUHFHLYDEOHV FRQVLGHUHGJRRG 4,746.23 4,120.46 727$/ 4,903.00 4,332.62 17 CASH AND BANK BALANCE &DVKDQGFDVKHTXLYDOHQWV &DVKRQKDQG 35.23 26.48 Balances with banks ,QFXUUHQWDFFRXQWV 5,085.93 344.28 ,Q(()&DFFRXQWV 150.29 54.85 ,QGHSRVLWDFFRXQWV 1.97 1.97 ,QIRUHLJQEDQNDFFRXQWVKHOGE\IRUHLJQEUDQFKHV 60.87 75.44 Other bank balance 8QSDLGGLYLGHQGDFFRXQWV 94.39 86.88 727$/ 5,428.68 589.90 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 18 SHORT-TERM LOANS AND ADVANCES Unsecured and Considered good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¿WUHFHLYDEOH 356.90 304.28 727$/ 1,943.88 339.79 Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS 20 REVENUE FROM OPERATIONS `LQ/DNKV For the For the year ended year ended 31st March, 31st March, 2015 2014 6DOHRISURGXFWV 5HIHU1RWH L EHORZ 23,925.84 27,464.30 6DOHRIVHUYLFHV 5HIHU1RWH LL EHORZ 20.56 25.04 2WKHURSHUDWLQJUHYHQXHV 5HIHU1RWH LLL EHORZ 740.73 755.16 24,687.13 28,244.50 /HVV ([FLVHGXW\ 622.56 767.24 727$/ 24,064.57 27,477.26 Note (i) 6DOHRISURGXFWVFRPSULVHV Manufactured goods 7HD 8,580.15 9,951.97 &RIIHH 1,502.05 1,066.17 3HSSHU7LPEHUHWF 568.02 555.80 $XWRHOHFWULFFRPSRQHQWV6ZLWFKHV6RORQRLGVHWF 10,170.86 11,177.06 :HLJKLQJSURGXFWV 198.40 169.12 'HQWDOSURGXFWV 2,030.00 1,944.83 Sub-Total 23,049.48 24,864.95 Traded goods 7HD 23.87 20.28 &RIIHH 680.47 2,376.61 :HLJKLQJSURGXFWV 11.59 14.50 'HQWDOSURGXFWV 160.43 187.96 Sub-Total 876.36 2,599.35 727$/ 23,925.84 27,464.30 Note (ii) 6DOHRIVHUYLFHVFRPSULVHV :HLJKLQJSURGXFWV 20.56 25.04 727$/ 20.56 25.04 Note (iii) 2WKHURSHUDWLQJUHYHQXHVFRPSULVH 6DOHRIVFUDS 130.32 153.51 'XW\GUDZEDFNDQGRWKHUH[SRUWLQFHQWLYHV 410.09 401.11 ([SHQVHVUHFRYHUHGIURPVXEVLGLDULHVDQGRWKHU&RPSDQLHV 115.17 115.22 5HQW LQFOXGLQJKLUHFKDUJHVOHDVHUHQWRQPDFKLQHU\ 85.15 85.32 727$/ 740.73 755.16 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV For the For the year ended year ended 31st March, 31st March, 2015 2014 21 OTHER INCOME ,QWHUHVWLQFRPH 5HIHU1RWH L EHORZ 1,396.70 977.60 'LYLGHQGLQFRPHIURP5HODWHGSDUWLHV 5HIHU1RWH )RUHLJQVXEVLGLDU\ 1,586.78 - 2WKHUJURXSFRPSDQ\ 237.20 296.64 1HW JDLQ RQ IRUHLJQ FXUUHQF\ WUDQVDFWLRQV DQG WUDQVODWLRQ RWKHU WKDQ 93.84 - FRQVLGHUHGDV¿QDQFHFRVW 2WKHUQRQRSHUDWLQJLQFRPH 5HIHU1RWH LL EHORZ 243.13 394.83 727$/ 3,557.65 1,669.07 Note (i) ,QWHUHVWLQFRPHIURP %DQNGHSRVLWV 2.47 2.24 /RDQVDQGDGYDQFHV 1,392.10 973.86 /RDQVJLYHQWR.H\0DQDJHULDO3HUVRQV 5HIHU1RWH 2.13 1.50 727$/ 1,396.70 977.60 Note (ii) 2WKHUQRQRSHUDWLQJLQFRPH 5HQWDOLQFRPHIURPLQYHVWPHQWSURSHUWLHV 19.56 21.92 3UR¿WRQVDOHRI¿[HGDVVHWV 1HW 93.86 88.86 /LDELOLWLHVSURYLVLRQVQRORQJHUUHTXLUHGZULWWHQEDFN 67.47 146.00 3URYLVLRQVIRUGRXEWIXOGHEWVZULWWHQEDFN - 59.89 0LVFHOODQHRXVLQFRPH 62.24 78.16 727$/ 243.13 394.83 22 COST OF MATERIALS CONSUMED Opening stock 476.75 684.62 $GG 3XUFKDVHVGXULQJWKH\HDU 7,871.13 8,447.70 8,347.88 9,132.32 /HVV &ORVLQJVWRFN 543.28 476.75 727$/ 7,804.60 8,655.57 0DWHULDOFRQVXPHGFRPSULVHV &KHPLFDOV 1,113.78 1,067.54 %RXJKWOHDI 1,360.10 2,009.24 (OHFWURQLFDQGPHFKDQLFDOFRPSRQHQWV 5,330.72 5,578.79 727$/ 7,804.60 8,655.57 Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV For the For the year ended year ended 31st March, 31st March, 2015 2014 22 PURCHASE OF STOCK-IN-TRADE 7HD 60.73 15.27 &RIIHH 1,301.14 707.90 :HLJKLQJSURGXFWV 6.91 6.56 'HQWDOSURGXFWV 102.85 115.32 727$/ 1,471.63 845.05 22 CHANGES IN INVENTORIES OF FINISHED GOODS, WORK-IN-PROGRESS AND STOCK-IN-TRADE ,QYHQWRULHVDWWKHHQGRIWKH\HDU )LQLVKHGJRRGV LQFOXGLQJVWRFNLQWUDGHRIWUDGHGJRRGV 5,900.69 4,882.30 :RUNLQSURJUHVV 354.40 295.24 6,255.09 5,177.54 ,QYHQWRULHVDWWKHEHJLQQLQJRIWKH\HDU )LQLVKHGJRRGV LQFOXGLQJVWRFNLQWUDGHRIWUDGHGJRRGV 4,882.30 5,742.58 :RUNLQSURJUHVV 295.24 438.19 5,177.54 6,180.77 Net (increase) / decrease (1,077.55) 1,003.23 23 EMPLOYEE BENEFITS EXPENSE 6DODULHVDQGZDJHV 6,531.88 6,000.66 &RQWULEXWLRQVWRSURYLGHQWDQGRWKHUIXQGV 5HIHU1RWH 672.76 955.17 6WDIIZHOIDUHH[SHQVHV 388.71 346.02 /HVV 7UDQVIHUUHGWRUHDOHVWDWHXQGHUGHYHORSPHQW 5HIHU1RWH 302.34 84.01 727$/ 7,291.01 7,217.84 24 FINANCE COSTS ,QWHUHVWH[SHQVHRQ %DQNERUURZLQJV 2,404.32 2,099.40 5HODWHG3DUWLHV 5HIHU1RWH 231.73 - 9HKLFOH/RDQ 2.25 3.09 %DQNFKDUJHV 56.15 48.52 727$/ 2,694.45 2,151.01 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV For the For the year ended year ended 31st March, 31st March, 2015 2014 25 OTHER EXPENSES &RQVXPSWLRQRIVWRUHVDQGVSDUHSDUWV 1,401.41 1,201.36 ,QFUHDVHRIH[FLVHGXW\RQLQYHQWRU\ 39.72 23.49 3RZHUDQGIXHO 1,160.04 1,310.99 5HQWLQFOXGLQJOHDVHUHQWDOV 5HIHU1RWH 81.82 188.11 5HSDLUVDQGPDLQWHQDQFH%XLOGLQJV 137.34 182.77 5HSDLUVDQGPDLQWHQDQFH0DFKLQHU\ 193.10 234.79 5HSDLUVDQGPDLQWHQDQFH2WKHUV 177.28 156.65 ,QVXUDQFH 84.84 92.81 5DWHVDQGWD[HV 141.18 108.53 &RPPXQLFDWLRQ 81.48 82.98 7UDYHOOLQJDQGFRQYH\DQFH 419.34 479.55 3ULQWLQJDQGVWDWLRQHU\ 73.84 83.00 )UHLJKWDQGIRUZDUGLQJ 745.90 656.35 6DOHVDQGEXVLQHVVSURPRWLRQH[SHQVHV 446.17 480.49 /HJDODQGSURIHVVLRQDO 267.40 277.31 5HWDLQHUIHHV 109.99 108.91 %UDQGHTXLW\DQG6KDUHGH[SHQVHV 88.04 97.84 3D\PHQWVWRDXGLWRUV 5HIHU1RWHEHORZ 34.64 24.12 %DGWUDGHDQGRWKHUUHFHLYDEOHVORDQVDQGDGYDQFHVZULWWHQRII 0.02 4.64 'LUHFWRU VVLWWLQJIHHV 12.40 11.20 1HW ORVV RQ IRUHLJQ FXUUHQF\ WUDQVDFWLRQV DQG WUDQVODWLRQ RWKHU WKDQ - 163.91 FRQVLGHUHGDV¿QDQFHFRVW 3URYLVLRQIRUGRXEWIXOWUDGHDQGRWKHUUHFHLYDEOHVORDQVDQGDGYDQFHV QHW 100.63 0.91 3URFHVVLQJFKDUJHV6XE&RQWUDFWLQJ 949.46 1,026.00 &RQWUDFWODERXUFKDUJHV 296.95 290.19 &RUSRUDWH6RFLDO5HVSRQVLELOLW\ 5HIHU1RWH 66.62 - 0LVFHOODQHRXVH[SHQVHV 611.80 572.95 /HVV 7UDQVIHUUHGWRUHDOHVWDWHXQGHUGHYHORSPHQW 5HIHU1RWH 63.56 93.94 727$/ 7,657.85 7,765.91 1RWH Payments to the auditors 6WDWXWRU\DXGLWIHHV ,QFOXGLQJEUDQFKDXGLWRUVIHHV` 7.84 lakhs (previous 17.16 13.54 Year ` 8.31 lakhs) 2WKHUVHUYLFHV 13.19 7.77 5HLPEXUVHPHQWRIH[SHQVHV 4.29 2.81 727$/ 34.64 24.12 Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS `LQ/DNKV For the For the year ended year ended 31st March, 31st March, 2015 2014 &2675(/$7,1*725($/(67$7(81'(5'(9(/230(17 2SHQLQJLQYHQWRU\RI5HDOHVWDWHXQGHUGHYHORSPHQW 2,140.12 1,987.38 $GG ([SHQGLWXUHUHODWLQJWRUHDOHVWDWHGLYLVLRQLQFXUUHGGXULQJWKH\HDU 3D\PHQWVWRDQGSURYLVLRQIRUHPSOR\HHV 5HIHU1RWH 302.34 84.01 &RQWUDFWUHWDLQHUVKLSIHHV 5HIHU1RWH 38.97 27.45 7UDYHOOLQJDQGRWKHUH[SHQVHV 5HIHU1RWH 24.59 66.49 2,506.02 2,165.33 &ORVLQJLQYHQWRU\RI5HDOHVWDWHXQGHUGHYHORSPHQW 5HIHU1RWH 2,415.32 2,140.12 727$/ 90.70 25.21 ($51,1*63(56+$5( `LQ/DNKV Current Year Previous Year $ 1HW3UR¿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`LQ/DNKV Current Year Previous Year (UVWZKLOH6XQPLFD'LYLVLRQ %XLOGLQJ3URGXFWV'LYLVLRQ 3,553.24 3,728.24 & 'LVSXWHGZDJHGHPDQGVSHQGLQJZLWKWKH,QGXVWULDO7ULEXQDO` 232.25 Lakhs Previous Year ` 232.25 lakhs). ' 'DPDJHVDQGLQWHUHVWRQDOOHJHGXQDXWKRUL]HGRFFXSDWLRQRIUHVLGHQWLDOSUHPLVHVGHWHUPLQHGE\WKH (VWDWH2I¿FHU/LIH,QVXUDQFH&RUSRUDWLRQRI,QGLDXSWRVW0DUFKDQGGLVSXWHGE\WKH&RUSRUDWLRQ ` 108.26 Lakhs (Previous Year ` 108.26 Lakhs). ( 0DWWHUV XQGHU GLVSXWH UHODWLQJ WR ,QFRPH WD[ LQ UHVSHFW RI WKH HUVWZKLOH (OHFWURPDJV $XWRPRWLYH 3URGXFWV3ULYDWH/LPLWHG $XWR(OHFWULF&RPSRQHQWV'LYLVLRQ $<` 5.23 Lakhs (Previous Year ` 5.23 lakhs)IRUWKH$< ` 64.26 Lakhs (Previous Year ` 64.26 Lakhs)DQGIRU$<` 1.79 Lakhs (Previous Year ` 1.79 lakhs). ) 7KH&RUSRUDWLRQKDVH[SRUWREOLJDWLRQRI` 599.00 Lakhs (Previous Year ` Nil Lakhs) DJDLQVWWKHLPSRUW OLFHQVHVWDNHQIRULPSRUWRIFDSLWDOJRRGVXQGHUH[SRUWSURPRWLRQ&DSLWDO*RRGV6FKHPH 7KH&RUSRUDWLRQEHOLHYHVEDVHGRQFXUUHQWNQRZOHGJHDQGDIWHUFRQVXOWDWLRQZLWKHPLQHQWOHJDOFRXQVHO WKDWWKHUHVROXWLRQRIWKHDERYHPDWWHUZLOOQRWKDYHPDWHULDODGYHUVHHIIHFWRQWKH¿QDQFLDOVWDWHPHQWV RIWKH&RUSRUDWLRQ The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS 29 (VWLPDWHG DPRXQW RI FRQWUDFWV UHPDLQLQJ WR EH H[HFXWHG RQ &DSLWDO $FFRXQW DQG QRW SURYLGHG IRU ` 73.46 Lakhs (Previous Year ` 1,115.61 Lakhs) `LQ/DNKV Current Year Previous Year (OHFWURPDJV $XWR(OHFWULF&RPSRQHQWV'LYLVLRQ 51.86 5.97 73.46 1,115.61 ),1$1&,$/ '(5,9$7,9(,167580(176 D 2XWVWDQGLQJ )RUHLJQ H[FKDQJH IRUZDUG FRQWUDFWV USD 53.88 Lakhs (Sold) – ` 3,523.28 Lakhs, EUR 4.15 Lakhs (Sold) – ` 313.49 Lakhs, GBP 8.60 Lakhs (Sold) - ` 836.15 Lakhs, (Previous year: USD 30.00 Lakhs (Sold) – ` 1,888.50 Lakhs, EUR 1.50 Lakhs (Sold) - ` 125.14 Lakhs, GBP 1.82 Lakhs (Sold) - ` 176.92 Lakhs) E 7KH\HDUHQGIRUHLJQFXUUHQF\H[SRVXUHVWKDWKDYHQRWEHHQKHGJHGE\DIRUZDUGFRQWUDFWGHULYDWLYH LQVWUXPHQWRURWKHUZLVHDUHJLYHQEHORZ )RUHLJQ&XUUHQF\ ` in Lakhs 5HFHLYDEOH LQ IRUHLJQ FXUUHQF\ RQ DFFRXQW RI H[SRUW RI JRRGV EUR Nil - (EUR 72,781) (60.10) GBP Nil - (GBP 304,139 ) (303.68) $PRXQWSD\DEOHLQIRUHLJQFXUUHQF\RQDFFRXQWRILPSRUW RIJRRGVDQGVHUYLFHV USD 41,689 26.09 (USD 42,090 ) (25.30) EUR Nil - (EUR 19,934) (16.46) SGD 107,845 49.14 (SGD 47,200) (35.90) /RDQV5HFHLYDEOHIURP6XEVLGLDU\ RM 1,923,788 323.91 (RM 1,684,108) (309.20) 'LYLGHQGUHFHLYDEOHIURP6XEVLGLDU\ 5HIHU1RWH RM 9,422,710 1,586.78 (RM Nil) (-) %DODQFHLQ(()&$FFRXQW USD 232,232 145.36 (USD 41,956) (25.21) EUR 7,309 4.93 (EUR 29,101) (24.03) GBP Nil - (GBP 5.614) (5.61) Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS 31 DISCLOSURE OF LOANS / ADVANCES TO SUBSIDIARIES, ASSOCIATE COMPANIES ETC. (AS REQUIRED BY CLAUSE 32 OF THE LISTING AGREEMENT WITH STOCK EXCHANGES) ` in Lakhs $PRXQW 0D[$PRXQW Outstanding Outstanding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` in Lakhs 5DZ0DWHULDOV 865.29 (793.38) &RPSRQHQWVDQG6SDUH3DUWV - (2.88) &DSLWDO*RRGV 10.02 (459.64) 7UDGHG*RRGV±'HQWDO 26.27 (28.98) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS E ([SHQGLWXUHLQIRUHLJQFXUUHQFLHV ([FOXGLQJH[SHQVHVRIIRUHLJQEUDQFKHV ` in Lakhs &RPPLVVLRQRQ([SRUWV 12.76 (21.86) 2QDFFRXQWRIRWKHUPDWWHUV 25.78 7UDYHOOLQJ([SHQVHV6XEVFULSWLRQ3URIHVVLRQDO6HUYLFHVHWF (34.21) F 9DOXHRI5DZ0DWHULDOV6SDUH3DUWVDQG&RPSRQHQWV&RQVXPHG Value Percentage ` in Lakhs to total consumption L 5DZ0DWHULDOV ,PSRUWHG 915.65 11.73 (877.09) (10.13) ,QGLJHQRXV 6,888.94 88.27 (7,778.48) (89.87) 727$/ 7,804.59 100.00 (8,655.57) (100.00) LL &RPSRQHQWVDQG6SDUH3DUWV ,PSRUWHG 12.38 0.88 (8.64) (0.72) ,QGLJHQRXV 1,389.03 99.12 (1,192.72) (99.28) 727$/ 1,401.41 100.00 (1,201.36) (100.00) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU G 5HPLWWDQFHVLQIRUHLJQFXUUHQFLHVRQDFFRXQWRIGLYLGHQGV ` in Lakhs No. of No. of Shares Aggregate non-resident held by them amount of Shareholders GLYLGHQGV L 'LYLGHQGIRUWKH\HDUHQGHGVW0DUFK 1 56,60,700 56.60 'LYLGHQGIRU\HDUHQGHGVW0DUFK (1) (56,60,700) (169.82) LL ([FHSWIRUWKHDERYH6KDUHKROGHUVWKH&RUSRUDWLRQKDVQRWPDGHDQ\UHPLWWDQFHLQIRUHLJQ FXUUHQF\RQDFFRXQWRIGLYLGHQGVGXULQJWKH\HDUDQGGRHVQRWKDYHLQIRUPDWLRQDVWRWKHH[WHQW WRZKLFKUHPLWWDQFHVLQIRUHLJQFXUUHQFLHVRQDFFRXQWRIGLYLGHQGVKDYHEHHQPDGHE\RURQ EHKDOIRIQRQUHVLGHQW6KDUHKROGHUV LLL 7KHSDUWLFXODUVRIQRQUHVLGHQW6KDUHKROGHUVDQGWKHDPRXQWRIGLYLGHQGVSDLGWRWKHPDUHDV XQGHU 'LYLGHQGIRUWKH\HDUHQGHGVW0DUFK 231 63,92,616 63.92 'LYLGHQGIRU\HDUHQGHGVW0DUFK (224) (63,41,914) (190.26) Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS H (DUQLQJVLQ)RUHLJQ([FKDQJH ([FOXGLQJLQFRPHRI)RUHLJQ%UDQFKHV ` in Lakhs L ([SRUWRI7HD&RIIHH 2WKHUVRQ)2%EDVLV 4,889.57 (4,418.82) LL ([SRUWRI'HQWDO3URGXFWV 41.57 (149.48) LLL ([SRUWRIVROHQRLGVVZLWFKHVYDOYHVVOLSULQJVHWFRQ)2%EDVLV 2,961.55 (3,949.12) L Y 'LYLGHQGUHFHLYDEOHIURP6XEVLGLDU\ 1,586.78 (-) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU 6(*0(17,1)250$7,21 L 3ULPDU\6HJPHQW5HSRUWLQJ E\%XVLQHVV6HJPHQW 7KH&RUSRUDWLRQ¶VEXVLQHVVVHJPHQWVEDVHGRQSURGXFWOLQHVDUHDVXQGHU ¾ Plantation 6HJPHQWSURGXFHVWUDGHVLQ7HD&RIIHH7LPEHU&DUGDPRPDQG3HSSHU ¾ Health Care 6HJPHQWPDQXIDFWXUHVWUDGHVLQ'HQWDOSURGXFWV ¾ Auto Electric Components 6HJPHQW PDQXIDFWXUHV VROHQRLGV VZLWFKHV YDOYHV VOLS ULQJV HWF IRU DXWRPRELOH DQG RWKHU LQGXVWULHV ¾ ,QYHVWPHQWV 6HJPHQWLQYHVWVLQYDULRXVVHFXULWLHVOLVWHGDVZHOODVXQOLVWHGPDLQO\RQDORQJWHUPEDVLV ¾ Weighing Products 6HJPHQWPDQXIDFWXUHVWUDGHVLQ$QDO\WLFDO3UHFLVLRQ%DODQFHVDQG:HLJKLQJ6FDOHV ¾ Real Estate 6HJPHQWUHSUHVHQWVSURSHUW\GHYHORSPHQW LL 6HJPHQW5HYHQXHV5HVXOWVDQG2WKHU,QIRUPDWLRQ ` in Lakhs Plantation Health Care Auto Weighing Investments Real Estate Total of Electric Products Reportable Component Segment Revenue from operations 11,723.34 2,192.30 9,739.87 209.91 - - 23,496.64 (Net of excise duty) (14,329.43) (2,135.28) (10,621.88) (191.91) (-) (-) (27,278.50) Other Income 216.71 0.42 64.36 4.33 3,029.92 - 3,684.52 (92.25) (0.61) (7.85) (3.65) (1,116.39) (-) (1,220.75) Segment Revenues 11,940.05 2,192.72 9,804.23 214.24 3,029.92 - 27,181.16 (14,421.68) (2,135.89) (10,629.73) (195.56) (1,116.39) (-) (28,499.25) The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS ` in Lakhs Plantation Health Care Auto Weighing Investments Real Estate Total of Electric Products Reportable Component Segment Segment Results – 135.16 471.66 1,346.45 12.21 3,029.92 – 90.70 4,634.38 (907.57) (398.01) (1,497.56) (17.04) (1,116.39) (-25.51) (3,911.16) Segment Assets 16,946.83 1,307.92 6,711.95 307.00 29,442.36 2,415.35 57,131.41 (14,513.04) (1,142.09) (6,976.08) (323.34) (23,420.52) (2,140.15) (48,515.23) Segment Liabilities 22,385.31 191.44 2,595.62 61.73 - - 25,234.10 (12,197.96) (169.54) (1,874.14) (37.86) (-) (-) (14,279.51) Capital Expenditure (included 1,610.58 2.85 235.16 - - - 1,848.59 in segment assets) (991.90) (25.17) (284.89) (0.17) (-) (-) (1,302.13) Depreciation/Amortisation 359.43 12.37 222.64 12.11 - - 606.55 (356.34) (9.00) (252.47) (13.12) (-) (0.30) (631.23) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU LLL 5HFRQFLOLDWLRQRI5HSRUWDEOH6HJPHQWVZLWKWKH)LQDQFLDO6WDWHPHQWV ` in Lakhs Revenues Results / Assets Liabilities Capital Depreciation/ Net Profits Expenditure Amortisation Total of Reportable Segments 27,181.16 4,634.38 57,131.41 25,234.10 1,848.59 606.55 (28,499.25) (3,911.16) (48,515.23) (14,279.51) (1,302.13) (631.23) Corporate / Unallocated Segment 441.06 -937.22* 10,227.64 16,330.03 76.57 80.28 (647.08) (-1,085.71)* (2,822.71) (10,463.46) (15.63) (134.90) Less: Finance cost -2,694.45 (-2,102.49) Less: Taxes -299.75 (-210.18) As per Financial Statement 27,622.22 702.95 67,359.05 41,564.13 1,925.16 686.83 (29,146.33) (512.78) (51,337.94) (24,742.97) (1,317.76) (766.13) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU &RPSULVLQJSUR¿WRQVDOHRI¿[HGDVVHWVDQGPDQDJHPHQWFKDUJHVUHFRYHUHG % 6HFRQGDU\VHJPHQW5HSRUWLQJ E\*HRJUDSKLFDO6HJPHQW ` in Lakhs 'RPHVWLF 2YHUVHDV 7RWDO 5HYHQXHV 19,281.43 8,340.79 27,622.22 (19,979.01) (9,167.32) (29,146.33) 7RWDO$VVHWV 66,530.66 828.39 67,359.05 (50,418.49) (919.45) (51,337.94) &DSLWDO([SHQGLWXUH 1,922.44 2.72 1,925.16 (1,299.58) (18.18) (1,317.76) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU ,WLQFOXGHVUHYHQXHVDQGDVVHWVRIIRUHLJQEUDQFKHV Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS 34. RELATED PARTY DISCLOSURES 5HODWHGSDUW\GLVFORVXUHVDVUHTXLUHGE\ $6 ³5HODWHG3DUW\'LVFORVXUHV´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he Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS )ORUD,QYHVWPHQWV&RPSDQ\3ULYDWH/LPLWHG *LOW(GJH)LQDQFH ,QYHVWPHQWV3ULYDWH/LPLWHG *DQJHV9DOOH\)RRGV3ULYDWH/LPLWHG ,QWHUQDWLRQDO%DNHU\3URGXFWV/LPLWHG -%0DQJKDUDP)RRGV3ULYDWH/LPLWHG 0DQQD)RRGV3ULYDWH/LPLWHG 6XQULVH%LVFXLW&RPSDQ\3ULYDWH/LPLWHG %ULWDQQLDDQG$VVRFLDWHV 0DXULWLXV 3ULYDWH/LPLWHG %ULWDQQLDDQG$VVRFLDWHV 'XEDL 3ULYDWH&RPSDQ\/LPLWHG $O6DOODQ)RRG,QGXVWULHV&RPSDQ\6$2* 6WUDWHJLF)RRG,QWHUQDWLRQDO&RPSDQ\//& 6WUDWHJLF%UDQGV+ROGLQJ&RPSDQ\/LPLWHG 'DLO\%UHDG*RXUPHW)RRGV ,QGLD 3ULYDWH/LPLWHG %ULWDQQLD'DLU\3ULYDWH/LPLWHG %ULWDQQLD'DLU\+ROGLQJV3ULYDWH/LPLWHG %ULWDQQLD(PSOR\HHV*HQHUDO:HOIDUH$VVRFLDWLRQ3ULYDWH/LPLWHG %ULWDQQLD(PSOR\HHV0HGLFDO:HOIDUH$VVRFLDWLRQ3ULYDWH/LPLWHG %ULWDQQLD(PSOR\HHV(GXFDWLRQDO:HOIDUH$VVRFLDWLRQ3ULYDWH/LPLWHG I 6XEVLGLDU\RI,QQRYDWLYH2UJDQLFV,QF *UDQXP,QF .H\PDQDJHPHQWSHUVRQQHO D 0U$VKRN3DQMZDQL0DQDJLQJ'LUHFWRU E 0U1HVV:DGLD±0DQDJLQJ'LUHFWRU F 0U1LWLQ+'DWDQZDOD&RPSDQ\6HFUHWDU\ ZHIVW$SULO 2WKHU5HODWHGSDUWLHV D $VVRFLDWH&RPSDQLHV /RWXV9LQL\RJ3ULYDWH/LPLWHG ,QRU0HGLFDO3URGXFWV/LPLWHG FHDVHGWREHDQ$VVRFLDWHZHIWK6HSWHPEHU 0HGLFDO0LFURWHFKQRORJ\/LPLWHG E 2WKHU*URXS&RPSDQLHVZKHUHFRQWUROH[LVW *R$LUOLQHV ,QGLD /LPLWHG 0DFUR¿O,QYHVWPHQWV/LPLWHG ZHIVW$SULO %RPED\'\HLQJDQG0DQXIDFWXULQJ&RPSDQ\/LPLWHG 100 Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS 4) The following transactions were carried out with the related parties in the ordinary course of business. 'HWDLOVUHODWLQJWRWKHSDUWLHVUHIHUUHGWRLQLWHPVWRDERYH )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU ` in Lakhs Subsidiaries Key Other Total & Sub Management Related Subsidiaries Personnel Parties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urchase of material $IFR,QGXVWULDOV &KHPLFDOV/LPLWHG 5.97 - - 5.97 &RPPLVVLRQUHFHLYHG ,QRU0HGLFDO3URGXFWV/LPLWHG - - 26.00 26.00 ,QWHUHVW5HFHLYHG ,QRU0HGLFDO3URGXFWV/LPLWHG - - 72.80 72.80 101 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU ` in Lakhs Subsidiaries Key Other Total & Sub Management Related Subsidiaries Personnel Parties 1DLUD+ROGLQJV/LPLWHG 3.99 - - 3.99 *R$LUOLQHV ,QGLD /LPLWHG - - 445.05 445.05 0DFUR¿O,QYHVWPHQWV/LPLWHG - - 426.16 426.16 Interest paid 6HD :LQG ,QYHVWPHQWV 7UDGLQJ 5.64 - - 5.64 &RPSDQ\/LPLWHG %ULWDQQLD,QGXVWULHV/LPLWHG 211.73 - - 211.73 0DFUR¿O,QYHVWPHQWV/LPLWHG - - 1.26 1.26 ,QWHUHVWRQORDQJLYHQWR.03¶V 0U$VKRN3DQMZDQL - 1.50 - 1.50 0U1LWLQ+'DWDQZDOD - 0.63 - 0.63 'LYLGHQGLQFRPH %RPED\ '\HLQJ 0DQXIDFWXULQJ - - 237.16 237.16 &RPSDQ\/LPLWHG /HLOD/DQGV6HQGHULDQ%HUKDG 1,586.78 - - 1,586.78 'LYLGHQG3DLG 0U1HVV:DGLD - 0.05 - 0.05 Management / Secondment Charges UHFHLYHG 6HDZLQG ,QYHVWPHQWV 7UDGLQJ 3.16 - - 3.16 &RPSDQ\/LPLWHG ([SHQVHV5HFRYHUHG ,QRU0HGLFDO3URGXFWV/LPLWHG - - 32.50 32.50 $IFR,QGXVWULDOV &KHPLFDOV/LPLWHG ---- 102 Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU ` in Lakhs Subsidiaries Key Other Total & Sub Management Related Subsidiaries Personnel Parties Management / Secondment Charges paid 1DLUD+ROGLQJV/LPLWHG 2.11 - - 2.11 5HQWUHFRYHUHG ,QRU0HGLFDO3URGXFWV/LPLWHG - - 34.80 34.80 %RPED\ '\HLQJ 0DQXIDFWXULQJ - - 1.56 1.56 &RPSDQ\/LPLWHG /RDQJLYHQWR.03¶V 0U1LWLQ+'DWDQZDOD - 9.00 - 9.00 $GYDQFH ,QWHU &RUSRUDWH 'HSRVLWV *LYHQ ,QRU0HGLFDO3URGXFWV/LPLWHG - - 500.00 500.00 0DFUR¿O,QYHVWPHQWV/LPLWHG - - 7,164.00 7,164.00 *R$LUOLQHV ,QGLD /LPLWHG ---- %RPED\ '\HLQJ 0DQXIDFWXULQJ - - 60.63 60.63 &RPSDQ\/LPLWHG '3,3URGXFWVDQG6HUYLFHV/LPLWHG 5.00 - - 5.00 $GYDQFH ,QWHU &RUSRUDWH 'HSRVLWV UHFHLYHG *R$LUOLQHV ,QGLD /LPLWHG ---- $IFR,QGXVWULDOV &KHPLFDOV/LPLWHG 5.00 - - 5.00 6HD :LQG ,QYHVWPHQWV 7UDGLQJ 3.16 - - 3.16 &RPSDQ\/LPLWHG 1DLUD+ROGLQJV/LPLWHG 55.26 - - 55.26 ,QRU0HGLFDO3URGXFWV/LPLWHG - - 600.00 600.00 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU ` in Lakhs Subsidiaries Key Other Total & Sub Management Related Subsidiaries Personnel Parties 0DFUR¿O,QYHVWPHQWV/LPLWHG - - 884.00 884.00 %ULWDQQLD,QGXVWULHV/LPLWHG 4,000.00 - - 4,000.00 /RWXV9LQL\RJ - - 7.27 7.27 1DLUD+ROGLQJV/LPLWHG 55.26 - - 55.26 /HLOD/DQGV6HQGHULDQ%HUKDG 0.90 - - 0.90 Loan repaid by KMP’s 0U1LWLQ+'DWDQZDOD - 9.00 - 9.00 Unsecured Loan Paid 0DFUR¿O,QYHVWPHQWV/LPLWHG - - 132.00 132.00 6HDZLQG,QYHVWPHQW 7UDGLQJ&RPSDQ\ 65.00 - - 65.00 /LPLWHG Interest Accrued *R$LUOLQHV ,QGLD /LPLWHG - - - - Managerial Remuneration 0U$VKRN3DQMZDQL - 177.67 - 177.67 0U1HVV:DGLD - 340.88 - 340.88 Retainer Fees 0U1LWLQ+'DWDQZDOD - 64.45 - 64.45 Outstanding amount payable %ULWDQQLD,QGXVWULHV/LPLWHG 4,000.00 - - 4,000.00 %RPED\'\HLQJ 0DQXIDFWXULQJ - - 15.70 15.70 &RPSDQ\/LPLWHG ,QRU0HGLFDO3URGXFWV/LPLWHG ---- Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU ` in Lakhs Subsidiaries Key Other Total & Sub Management Related Subsidiaries Personnel Parties $IFR,QGXVWULDO &KHPLFDOV/LPLWHG 15.14 - - 15.14 Unsecured Loan Outstanding 6HDZLQG,QYHVWPHQW 7UDGLQJ&RPSDQ\ - - - - /LPLWHG Security Deposit Payable %RPED\'\HLQJ 0DQXIDFWXULQJ - - 300.00 300.00 &RPSDQ\/WG 2XWVWDQGLQJDPRXQWUHFHLYDEOH $IFR,QGXVWULDO &KHPLFDOV/LPLWHG ---- '3,3URGXFWVDQG6HUYLFHV/LPLWHG 80.06 - - 80.06 6HD:LQG,QYHVWPHQWV 7UDGLQJ&R ---- /LPLWHG ,QRU0HGLFDO3URGXFWV/LPLWHG ---- *R$LUOLQHV ,QGLD /LPLWHG - - 3,870.00 3,870.00 /RWXV9LQL\RJ3ULYDWH/LPLWHG ---- 1DLUD+ROGLQJV/LPLWHG 332.61 - - 332.61 %ULWDQQLD,QGXVWULHV/LPLWHG 0.44 - - 0.44 0DFUR¿O,QYHVWPHQWV/LPLWHG - - 6,280.00 6,280.00 /HLOD/DQGV6HQGHULDQ%HUKDG 1,586.78 - - 1,586.78 0U$VKRN3DQMZDQL - 50.00 - 50.00 0U1LWLQ+'DWDQZDOD - 12.00 - 12.00 105 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS 34. (PSOR\HH¶V%HQH¿W'LVFORVXUHDVUHTXLUHGXQGHU$FFRXQWLQJ6WDQGDUG $6 5HYLVHG DEFINED CONTRIBUTION PLAN &RQWULEXWLRQWR'H¿QHG&RQWULEXWLRQ3ODQUHFRJQL]HGDVH[SHQVHIRUWKH\HDUDUHDVXQGHU ` in Lakhs 2014-15 2013-14 (PSOR\HU¶V&RQWULEXWLRQWR3URYLGHQW)XQG 380.01 335.47 (PSOR\HU¶V&RQWULEXWLRQWR6XSHUDQQXDWLRQ)XQG 88.27 74.15 (PSOR\HU¶V&RQWULEXWLRQWR)DPLO\3HQVLRQ)XQG 27.61 33.51 :LWKUHJDUGWRWKHDVVHWVRIIXQGDQGUHWXUQRQLQYHVWPHQWVWKH&RUSRUDWLRQGRHVQRWH[SHFWDQ\GH¿FLHQF\ LQIRUHVHHDEOHIXWXUH DEFINED BENEFIT PLAN – GRATUITY , 5HFRQFLOLDWLRQRI2SHQLQJDQG&ORVLQJEDODQFHVRI'H¿QHG%HQH¿W2EOLJDWLRQ ` in Lakhs 2014-15 2013-14 /LDELOLW\DWWKHEHJLQQLQJRIWKH\HDU 2,230.75 1,885.66 ,QWHUHVWFRVW 167.29 163.95 &XUUHQW6HUYLFHFRVW 158.08 129.32 %HQH¿WVSDLG (196.15) (185.74) $FWXDULDO*ain /oss RQ2EOLJDWLRQV 185.88 237.56 Liability at end of the year 2,545.85 2,230.75 II. Reconciliation of Opening and Closing balances of Fair Value of Plan Assets )DLUYDOXHRISODQDVVHWVDVDWWKHEHJLQQLQJRIWKH\HDU 1,783.06 1,668.69 ([SHFWHG5HWXUQVRQ3ODQ$VVHWV 217.62 133.43 &RQWULEXWLRQV 456.88 183.20 %HQH¿WV3DLG (196.15) (185.74) $FWXDULDO*DLQ /RVV RQ3ODQ$VVHWV 96.22 (16.52) )DLUYDOXHRISODQDVVHWVDVDWWKHHQGRIWKH\HDU 2,357.62 1,783.06 III. Actual Return on Plan Assets ([SHFWHG5HWXUQRQ3ODQ$VVHWV 217.62 133.43 $FWXDULDO*DLQ /RVV RQ3ODQ$VVHWV 96.22 (16.52) $FWXDO5HWXUQRQ3ODQ$VVHWV 313.84 116.91 IV. Amount recognized in the Balance Sheet /LDELOLW\DWWKHHQGRIWKH\HDU 2,545.85 2,230.75 )DLUYDOXHRI3ODQ$VVHWVDWWKHHQGRIWKH\HDU 2,357.62 1,783.06 $VVHW /LDELOLW\UHFRJQLVHGLQWKHEDODQFHVKHHW 188.23 447.69 9 ([SHQVHUHFRJQL]HGLQWKH6WDWHPHQWRI3UR¿WDQG/RVV &XUUHQW6HUYLFH&RVW 158.08 129.32 ,QWHUHVW&RVW 167.29 163.95 ([SHFWHG5HWXUQRQ3ODQ$VVHWV (217.62) (133.43) $FWXDULDO*DLQ /RVV 89.66 254.08 ([SHQVHUHFRJQL]HGLQWKH3 /$F 197.41 413.92 106 Annual Report 2014-2015 NOTES FORMING PART OF THE FINANCIAL STATEMENTS 9, ,QYHVWPHQW'HWDLOV &HQWUDO*RYHUQPHQW6HFXULWLHV 2.21% 2.46% 368%RQGV 2.00% 2.71% 6WDWH*RYHUQPHQW6HFXULWLHV 0.05% 0.56% 2WKHUV %DQN%DODQFH 13.57% 2.33% ,QVXUHU0DQDJHG)XQGV 82.16% 91.94% 7RWDO 100.00% 100.00% VII. Actuarial assumptions used 0RUWDOLW\7DEOH Indian Assured Indian Assured Ultimate Ultimate (2006-08) (2006-08) 'LVFRXQWUDWH 7.80% 9.15% 5DWHRIUHWXUQRQ3ODQ$VVHWV 10.00% 8.00% 6DODU\HVFDODWLRQUDWH 6.00% 5.00% 9,,,3UHVFULEHG&RQWULEXWLRQIRUQH[W\HDU 2014-15 2013-14 3UHVFULEHG&RQWULEXWLRQIRUQH[W\HDU 85.07 166.77 ,; ([SHULHQFH$GMXVWPHQW 31.03.2015 31.03.2014 31.03.2013 31.03.2012 31.03.2011 )DLU9DOXHRI3ODQ$VVHWV 2,357.62 1,783.06 1,668.69 1,350.95 1,310.17 'H¿QHG%HQH¿W2EOLJDWLRQ 2,545.85 2,230.75 1,885.66 1,243.58 1,139.58 ([SHULHQFH$GMXVWPHQWRQ3ODQ$VVHWV 96.22 (16.52) 205.32 23.62 (24.31) ([SHULHQFH$GMXVWPHQWRQ'H¿QHG 185.88 237.56 580.32 (255.29) (251.52) %HQH¿W2EOLJDWLRQ 7KHHVWLPDWHVRIIXWXUHVDODU\LQFUHDVHVFRQVLGHUHGLQDFWXDULDOYDOXDWLRQWDNHDFFRXQWRILQÀDWLRQVHQLRULW\ SURPRWLRQDQGRWKHUUHOHYDQWIDFWRUVVXFKDVVXSSO\DQGGHPDQGLQWKHHPSOR\PHQWPDUNHW7KHDERYH LQIRUPDWLRQLVFHUWL¿HGE\WKH$FWXDU\ 7KHH[SHFWHGUDWHRIUHWXUQRQSODQDVVHWVLVGHWHUPLQHGFRQVLGHULQJVHYHUDODSSOLFDEOHIDFWRUVPDLQO\ WKH FRPSRVLWLRQ RI SODQ DVVHWV KHOG DVVHVVHG ULVNV KLVWRULFDO UHVXOWV RI UHWXUQ RQ SODQ DVVHWV DQG WKH &RUSRUDWLRQ¶VSROLF\IRUSODQDVVHWVPDQDJHPHQW DEFINED BENEFIT PLAN – COMPENSATED ABSENCES 7KH&RUSRUDWLRQOLDELOLW\RQDFFRXQWRIFRPSHQVDWHGDEVHQFHVLVQRWIXQGHGDQGKHQFHWKHGLVFORVXUHV UHODWLQJWRWKHSODQQHGDVVHWVDUHQRWDSSOLFDEOH([SHQVHVLQFXUUHGWRZDUGVFRPSHQVDWHGDEVHQFHVDQG LQFOXGHGLQWKH³(PSOR\HHEHQH¿WVH[SHQVH´LQWKHVWDWHPHQWRI3UR¿WDQG/RVVDUHDVIROORZV ` in Lakhs 2014-15 2013-14 &RPSHQVDWHGDEVHQFHV 52.11 24.64 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE FINANCIAL STATEMENTS 36. 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LLP Chartered Accountants )LUP¶V5HJLVWUDWLRQ1R :: Vijay Mathur 0XPEDL Partner 0D\ 0HPEHUVKLS1R 111 The Bombay Burmah Trading Corporation, Limited CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH, 2015 `LQ/DNKV Note No. As at 31st As at 31st March, 2015 March, 2014 A EQUITY AND LIABILITIES 6+$5(+2/'(56¶)81'6 6KDUHFDSLWDO 1 1,396.27 1,396.27 5HVHUYHVDQGVXUSOXV 2 154,871.05 127,582.42 156,267.32 128,978.69 &DSLWDOVXEVLG\ 42 357.00 428.00 0LQRULW\,QWHUHVW 73818.20 48,662.15 121&855(17/,$%,/,7,(6 /RQJWHUPERUURZLQJV 3 50,624.24 48,837.99 'HIHUUHGWD[OLDELOLWLHV QHW 4 - 1,252.45 2WKHUORQJWHUPOLDELOLWLHV 5 2,080.54 2,004.61 /RQJWHUPSURYLVLRQV 6 593.32 714.16 53,298.10 52,809.21 &855(17/,$%,/,7,(6 6KRUWWHUPERUURZLQJV 7 30,611.46 29,077.73 7UDGHSD\DEOHV 8 73,988.66 59,178.04 2WKHUFXUUHQWOLDELOLWLHV 9 36,354.50 28,753.52 6KRUWWHUPSURYLVLRQV 10 24,559.90 20,280.41 165,514.52 137,289.70 727$/ 449,255.14 368,167.75 B ASSETS 121&855(17$66(76 )L[HGDVVHWV 7DQJLEOHDVVHWV 11 84,667.91 84,856.66 ,QWDQJLEOHDVVHWV 11 1,329.59 1,635.14 &DSLWDOZRUNLQSURJUHVV 11 4,929.47 11,357.83 90,926.97 97,849.63 *RRGZLOORQ&RQVROLGDWLRQ 101,804.01 101,030.21 'HIHUUHGWD[DVVHWV QHW 4 2,260.19 - 1RQFXUUHQWLQYHVWPHQWV 12 19,167.59 14,892.66 /RQJWHUPORDQVDQGDGYDQFHV 13 17,131.26 13,239.49 2WKHU1RQFXUUHQWDVVHWV 14 3,747.01 1,239.87 144,110.06 130,402.23 &855(17$66(76 &XUUHQWLQYHVWPHQWV 15 58,770.38 28,108.19 ,QYHQWRULHV 16 51,583.25 51,494.12 7UDGHUHFHLYDEOHV 17 20,230.11 17,090.76 &DVKDQGEDQNEDODQFH 18 31,521.34 15,352.45 6KRUWWHUPORDQVDQGDGYDQFHV 19 51,669.69 27,487.89 2WKHUFXUUHQWDVVHWV 20 443.34 382.48 214,218.11 139,915.89 727$/ 449,255.14 368,167.75 SIGNIFICANT ACCOUNTING POLICIES I The notes referred to above form an integral part of the Consolidated Financial Statements $VSHURXUDWWDFKHGUHSRUWRIHYHQGDWH )RU%65 &R//3 )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI &KDUWHUHG$FFRXQWDQWV 7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/LPLWHG )LUP¶V5HJLVWUDWLRQ1R:: >&,1 / 0+3/&@ 9LMD\0DWKXU $3$1-:$1, 0/$37( 186/,1:$',$ 3DUWQHU 0DQDJLQJ'LUHFWRU 'LUHFWRU &KDLUPDQ 0HPEHUVKLS1R >',1 @ >',1 @ >',1 @ 1(66:$',$ -(+:$',$ $.+,5-(( 0DQDJLQJ'LUHFWRU 'LUHFWRU 9LFH&KDLUPDQ >',1 @ >',1 @ >',1 @ 1+'$7$1:$/$ '(8':$',$ 0XPEDL 9LFH3UHVLGHQW&RUSRUDWH 'LUHFWRU QG0D\ DQG&RPSDQ\6HFUHWDU\ >',1 @ 112 Annual Report 2014-2015 CONSOLIDATED STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2015 `LQ/DNKV Notes For the For the year ended year ended 31st March, 31st March, 2015 2014 INCOME 5HYHQXHIURP2SHUDWLRQV 6DOHRI3URGXFW 21 829,851.46 732,389.33 /HVV ([FLVHGXW\ 21 17,533.19 12,391.91 812,318.27 719,997.42 6DOHRI6HUYLFH 21 20.56 25.04 2WKHU2SHUDWLQJ5HYHQXHV 21 7,331.73 7,093.40 819,670.56 727,115.86 2WKHULQFRPH 22 15,549.72 8,778.75 835,220.28 735,894.61 EXPENDITURE &RVWRIPDWHULDOVFRQVXPHG 23 422,047.43 375,202.07 3XUFKDVHVRIVWRFNLQWUDGH 23 65,128.53 56,785.77 &KDQJHVLQLQYHQWRULHVRI¿QLVKHGJRRGVZRUNLQSURJUHVV DQGVWRFNLQWUDGH 23 (4,635.95) 19.70 (PSOR\HHEHQH¿WV 24 38,851.29 36,723.42 )LQDQFHFRVWV 25 4,065.78 4,316.80 'HSUHFLDWLRQDQGDPRUWLVDWLRQ 11 15,506.27 9,427.45 /HVV 7UDQVIHUIURP5HYDOXDWLRQ5HVHUYH (6.59) (6.59) 2WKHUH[SHQVHV 26 212,703.31 195,486.52 &RVWUHODWLQJWR5HDOHVWDWHXQGHUGHYHORSPHQW 27 90.70 25.21 753,750.77 677,980.35 3UR¿WEHIRUHH[FHSWLRQDOLWHPVDQGWD[ 81,469.51 57,914.26 ([FHSWLRQDOLWHPV QHW 28 14,606.00 - 3UR¿WDIWHUH[FHSWLRQDOLWHPVDQGEHIRUHWD[ 96,075.51 57,914.26 &XUUHQWWD[H[SHQVHIRUFXUUHQW\HDU 29,736.22 18,312.48 /HVV 0LQLPXP$OORWPHQW7D[FUHGLW (613.00) (242.00) &XUUHQWWD[H[SHQVHUHODWLQJWRSULRU\HDUV 9.00 (14.32) 'HIHUUHGWD[FUHGLW (2,636.00) (363.17) 26,496.22 17,692.99 3UR¿WIURPRSHUDWLRQVDIWHUWD[ EHIRUHPLQRULW\LQWHUHVW 69,579.29 40,221.27 6KDUHRI3UR¿W /RVV IURP$VVRFLDWHV 21.00 (27.00) Minority Interest (33,913.00) (19,482.99) 3UR¿WDIWHUWD[ 35,687.29 20,711.28 Earnings per Share of Face Value of ` HDFK 33 Basic and Diluted in ` 51.15 29.68 SIGNIFICANT ACCOUNTING POLICIES I The notes referred to above form an integral part of the Consolidated Financial Statements $VSHURXUDWWDFKHGUHSRUWRIHYHQGDWH )RU%65 &R//3 )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI &KDUWHUHG$FFRXQWDQWV 7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/LPLWHG )LUP¶V5HJLVWUDWLRQ1R:: >&,1 / 0+3/&@ 9LMD\0DWKXU $3$1-:$1, 0/$37( 186/,1:$',$ 3DUWQHU 0DQDJLQJ'LUHFWRU 'LUHFWRU &KDLUPDQ 0HPEHUVKLS1R >',1 @ >',1 @ >',1 @ 1(66:$',$ -(+:$',$ $.+,5-(( 0DQDJLQJ'LUHFWRU 'LUHFWRU 9LFH&KDLUPDQ >',1 @ >',1 @ >',1 @ 1+'$7$1:$/$ '(8':$',$ 0XPEDL 9LFH3UHVLGHQW&RUSRUDWH 'LUHFWRU QG0D\ DQG&RPSDQ\6HFUHWDU\ >',1 @ The Bombay Burmah Trading Corporation, Limited CONSOLIDATED CASH FLOW STATEMENT ANNEXED TO THE BALANCE SHEET FOR YEAR ENDED 31ST MARCH, 2015 `LQ/DNKV 2014-15 2013-14 A. &DVKÀRZVIURPRSHUDWLQJDFWLYLWLHV 3UR¿W /RVV EHIRUH7D[DWLRQ 96,075.51 57,914.26 $GMXVWPHQWVIRU 'HSUHFLDWLRQDQGDPRUWLVDWLRQ 15,499.68 9,420.86 3UR¿WRQ6DOHRI)L[HG$VVHWV QHW (15,446.95) (1,053.86) 3UR¿WRQ6DOHRI/RQJ7HUP&XUUHQW (4,713.10) (1,049.10) ,QYHVWPHQWV 8QUHDOLVHGH[FKDQJHÀXFWXDWLRQ JDLQ QHW (93.84) - 3URYLVLRQIRUGRXEWIXOWUDGHDQGRWKHU 375.63 0.91 UHFHLYDEOHV ([FHVV3URYLVLRQVLQUHVSHFWRISUHYLRXV\HDU (1,999.47) (2,433.15) ZULWWHQEDFN ,QWHUHVWH[SHQVH 4,065.78 4,316.80 ,QWHUHVWLQFRPH (5,476.68) (2,544.56) 'LYLGHQGLQFRPH (311.31) (370.14) (8,100.26) 6,287.76 2SHUDWLQJ3UR¿WEHIRUHZRUNLQJFDSLWDOFKDQJHV 87,975.25 64,202.02 $GMXVWPHQWVIRU ,QFUHDVHLQ,QYHQWRULHV (89.13) (3,757.89) ,QFUHDVH GHFUHDVHLQWUDGHUHFHLYDEOHV (3,262.35) 1,179.45 'HFUHDVHLQORDQVDQGDGYDQFHVDQGRWKHU 4,182.84 6,903.97 assets ,QFUHDVHLQ7UDGHSD\DEOHVRWKHUOLDELOLWLHVDQG 16,292.36 24,349.56 SURYLVLRQV 17,123.72 28,675.09 &DVKIURPRSHUDWLRQV 1,05,098.97 92,877.11 )RUHLJQH[FKDQJHORVVRQFRQVROLGDWLRQ (9,029.40) (8,838.81) ,QFRPHWD[HVSDLGQHWRIUHIXQG (30,443.01) (19,182.87) (39,472.41) (28,021.68) Net cash from operating activities 65,626.56 64,855.43 B. &DVKÀRZVIURPLQYHVWLQJDFWLYLWLHV 3XUFKDVHRI¿[HGDVVHWV LQFOXGLQJ¿QDQFH OHDVHGDVVHWV (12,709.61) (16,473.81) ,QWHUFRUSRUDWH'HSRVLWVSODFHG QHW (26,163.84) (14,163.39) ,QWHUFRUSRUDWH'HSRVLWVWDNHQ QHW 944.39 320.54 3URFHHGVIURPVDOHRI¿[HGDVVHWV 16,449.69 1,180.39 3XUFKDVHRI,QYHVWPHQWV QHW (30,203.01) (8,720.41) )L[HGGHSRVLWSODFHGZLWKEDQNVKDYLQJRULJLQDO PDWXULW\RYHUWKUHHPRQWKV (2,507.14) (4.61) ,QWHUHVWUHFHLYHG 4,224.37 2,653.63 'LYLGHQGUHFHLYHG 6,428.19 5,344.50 Net cash used in investing activities (43,536.96) (29,863.16) Annual Report 2014-2015 CONSOLIDATED CASH FLOW STATEMENT ANNEXED TO THE BALANCE SHEET FOR YEAR ENDED 31ST MARCH, 2015 `LQ/DNKV 2014-15 2013-14 C. &DVKÀRZVIURP¿QDQFLQJDFWLYLWLHV 3URFHHGVIURP 5HSD\PHQWRI %RUURZLQJV QHW 5,609.76 (17,822.54) 3URFHHGVIURP 5HSD\PHQWRI ZRUNLQJFDSLWDO ORDQVFDVKFUHGLWDQGRYHUGUDIW QHW 3,855.49 (7,843.58) $SSOLFDWLRQRI6KDUH$SSOLFDWLRQ0RQH\SHQGLQJ allotment - (229.00) $GMXVWPHQWWR0LQRULW\,QWHUHVW QHWRIGLYLGHQG SDLG (8,159.95) (4,793.08) ,QWHUHVWSDLG (3,996.22) (4,277.08) 'LYLGHQGVSDLG LQFOXGLQJ&RUSRUDWH'LYLGHQG7D[ (3,229.79) (4,126.07) 1HWFDVKXVHGLQ¿QDQFLQJDFWLYLWLHV (5,920.71) (39,091.35) 1HWLQFUHDVH GHFUHDVH LQFDVKDQGFDVK equivalents (A+B+C) 16,168.89 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each) 1,500.00 1,500.00 Issued, Subscribed and paid-up 6,97,71,900 (TXLW\ VKDUHV RI ` HDFK (Previous Year 6,97,71,900 of 1,395.44 1,395.44 ` 2/- each) )RUIHLWHGVKDUHVDPRXQWSDLGXS 0.83 0.83 727$/ 1,396.27 1,396.27 D 7KH&RUSRUDWLRQKDVRQO\RQHFODVVRIHTXLW\VKDUHKDYLQJSDUYDOXHRI`(Previous Year ` 2/-)SHUVKDUH E (DFKKROGHURIHTXLW\VKDUHVLVHQWLWOHGWRRQHYRWHSHUVKDUH F 7KH&RUSRUDWLRQGHFODUHVDQGSD\VGLYLGHQGVLQ,QGLDQUXSHHV7KHGLYLGHQGSURSRVHGE\WKH%RDUGRI 'LUHFWRUVLVVXEMHFWWRWKHDSSURYDORIWKHVKDUHKROGHUVLQWKHHQVXLQJ$QQXDO*HQHUDO0HHWLQJ G 'XULQJWKH\HDUHQGHGVW0DUFKWKHDPRXQWRISHUVKDUHGLYLGHQGUHFRJQLVHGDVGLVWULEXWLRQVWR HTXLW\VKDUHKROGHUVZDV` IRUHYHU\VKDUHRI` HDFK(Previous Year Re.1/- for every share of ` 2/- each)7KHWRWDOGLYLGHQGDSSURSULDWLRQIRUWKH\HDUHQGHGVW0DUFKDPRXQWHGWR` /DNKV (Previous Year ` 816.30 lakhs)LQFOXGLQJFRUSRUDWHGLYLGHQGWD[RI` 1LO/DNKV(Previous Year ` 118.58 lakhs) H ,QWKHHYHQWRIOLTXLGDWLRQRIWKH&RUSRUDWLRQWKHKROGHUVRIHTXLW\VKDUHVZLOOEHHQWLWOHGWRUHFHLYHWKH 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,QGXVWULDO/LPLWHG8. 45,442,600 65.14 38,866,480 55.71 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 2 RESERVES AND SURPLUS Capital reserve $WWKHFRPPHQFHPHQWDQGHQGRIWKH\HDU 1,841.19 1,841.19 Statutory Reserve Fund 2SHQLQJEDODQFH 149.54 149.86 /HVV 7UDQVIHUWR6WDWHPHQWRI3UR¿WDQG/RVV - (0.32) &ORVLQJEDODQFH 149.54 149.54 Capital Reserve (On Investment in Subsidiaries) $WWKHFRPPHQFHPHQWDQGHQGRIWKH\HDU (202.84) (202.84) Capital redemption Reserve $WWKHFRPPHQFHPHQWDQGHQGRIWKH\HDU 201.96 201.96 Revaluation Reserve 2SHQLQJEDODQFH 440.37 446.96 /HVV 8WLOLVHGIRUVHWRIIDJDLQVWGHSUHFLDWLRQ (6.59) (6.59) &ORVLQJEDODQFH 433.78 440.37 Securities premium account 2SHQLQJEDODQFH 4,507.57 3,637.21 $GG 'XULQJWKH\HDU - 870.36 &ORVLQJEDODQFH 4,507.57 4,507.57 General reserve 2SHQLQJEDODQFH 37,915.99 35,992.52 /HVV 'HSUHFLDWLRQ LPSDFW GXH WR FKDQJH LQ OLIH RI ¿[HG DVVHWV RQ (1,320.92) - DSSOLFDWLRQRI6FKHGXOH,,RIWKH&RPSDQLHV$FW 5HIHU1RWH $GG 7UDQVIHUUHGIURP6XUSOXVLQ6WDWHPHQWRI3UR¿WDQG/RVV 3,494.65 1,923.47 &ORVLQJEDODQFH 40,089.72 37,915.99 Foreign currency translation reserve 2SHQLQJEDODQFH (14,687.13) (5,922.53) /HVV (IIHFWRIIRUHLJQH[FKDQJHUDWHYDULDWLRQVGXULQJWKH\HDU (8,584.31) (8,764.60) &ORVLQJEDODQFH (23,271.44) (14,687.13) 6XUSOXVLQ6WDWHPHQWRI3UR¿WDQG/RVV 2SHQLQJEDODQFH 97,415.77 76,915.58 $GG 3UR¿WIRUWKH\HDU 35,687.29 20,711.28 $GG 'LYLGHQGDGMXVWPHQW 5HIHU1RWH 6,116.88 4,977.36 $GG 7UDQVIHUIURP6WDWXWRU\5HVHUYH)XQG - 0.32 /HVV $SSURSULDWLRQV 3URSRVHG'LYLGHQG GLYLGHQGSHUVKDUH` IRUHYHU\VKDUHRI` HDFK 697.72 697.72 (Previous Year - `1/- for every share of ` 2/- each) 'LYLGHQGGLVWULEXWLRQWD[ 3906 2,564.58 'LYLGHQGWD[DGMXVWPHQW 5HIHU1RWH - 3.00 7UDQVIHUWR*HQHUDO5HVHUYH 3,494.65 1,923.47 &ORVLQJEDODQFH 131,121.57 97,415.77 TOTAL 154,871.05 127,582.42 Annual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 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nnual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 13 LONG-TERM LOANS AND ADVANCES Unsecured and Considered good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onsidered Doubtful 'HSRVLWWRZDUGVFRQWLQJHQWOLDELOLWLHV 5HIHU1RWH G - 25.00 $GYDQFHVUHFRYHUDEOHLQFDVKRUNLQG 1,088.43 849.20 18,219.69 14,113.69 /HVV 3URYLVLRQIRUGRXEWIXO/RDQVDQG$GYDQFHV 1,088.43 874.20 727$/ 17,131.26 13,239.49 14 OTHER NON CURRENT ASSETS 'HSRVLWVZLWK%DQN 2,535.01 27.87 2WKHU'HSRVLWV 5HIHU1RWH 1,212.00 1,212.00 727$/ 3,747.01 1,239.87 15 CURRENT INVESTMENTS &XUUHQW $W&RVWRU0DUNHW)DLUYDOXHZKLFKHYHULVORZHU 4XRWHGDQG1RQWUDGH ,QYHVWPHQWVLQHTXLW\LQVWUXPHQWV 5,017.76 4,752.19 5,017.76 4,752.19 4XRWHGDQGWUDGHG ,QYHVWPHQWVLQ%RQGV 5,879.83 4,892.00 ,QYHVWPHQWVLQ6SHFLDOLVW(TXLW\$FFRXQW 333.29 332.00 ,QYHVWPHQWVLQ6WUXFWXUHG1RWHV 1,501.84 - ,QYHVWPHQWVLQ&RPPRGLWLHV 1,949.66 1,847.00 9,664.62 7,071.00 8QTXRWHGDQG1RQWUDGH ,QYHVWPHQWVLQ8QLWVRI0XWXDO)XQGV 44,088.00 16,285.00 44,088.00 16,285.00 727$/ 58,770.38 28,108.19 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 16 INVENTORIES $WORZHURIFRVWRUQHWUHDOLVDEOHYDOXH 5DZPDWHULDOV 12,917.28 17,341.47 :RUNLQSURJUHVV 390.40 )LQLVKHGJRRGV 24,489.70 19,415.04 6WRFNLQWUDGH 2,896.17 3,405.80 6WRUHVDQGVSDUHVLQFOXGLQJ/RRVH7RROV 8,274.38 8,672.21 *RRGVLQ7UDQVLW 200.00 184.00 5HDO(VWDWHXQGHUGHYHORSPHQW 2,415.32 2,140.12 727$/ 51,583.25 51,494.12 17 TRADE RECEIVABLES Unsecured 7UDGHUHFHLYDEOHVRXWVWDQGLQJIRUDSHULRGH[FHHGLQJVL[PRQWKVIURPWKH GDWHWKH\ZHUHGXHIRUSD\PHQW FRQVLGHUHGJRRG 649.76 760.16 FRQVLGHUHG'RXEWIXO 1,189.85 1,040.85 1,839.61 1,801.01 /HVV 3URYLVLRQIRUGRXEWIXOWUDGHUHFHLYDEOHV 1,189.85 1,040.85 649.76 760.16 Other trade receivables FRQVLGHUHGJRRG 19,580.35 16,330.60 FRQVLGHUHGGRXEWIXO - 26.00 19,580.35 16,356.60 /HVV 3URYLVLRQIRUGRXEWIXOWUDGHUHFHLYDEOHV - 26.00 19,580.35 16,330.60 727$/ 20,230.11 17,090.76 18 CASH AND BANK BALANCE Cash and cash equivalents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`/DNKV(previous year: ` 45 Lakhs) Annual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV As at 31st As at 31st March, 2015 March, 2014 19 SHORT-TERM LOANS AND ADVANCES Unsecured and Considered good 7R5HODWHGSDUWLHV *URXSFRPSDQLHVDQG$VVRFLDWHV 5HIHU1RWH 6,288.37 1,224.53 7RSDUWLHVRWKHUWKDQ5HODWHGSDUWLHV /RDQVDQGDGYDQFHVWR(PSOR\HHV 130.22 71.48 %DODQFHVZLWK*RYHUQPHQW$XWKRULWLHV 1,008.65 1,310.15 (PSOR\HHEHQH¿WV - 133.00 ,QWHUHVWDFFUXHGEXWQRWGXH 1,243.00 203.00 ,QWHUFRUSRUDWH'HSRVLWV 28,500.00 7,500.00 6HFXULW\GHSRVLWV 416.00 396.12 3UHSDLGH[SHQVHV 151.11 104.61 $GYDQFHWRVXSSOLHUV 223.59 615.80 $GYDQFHVUHFRYHUDEOHLQFDVKRUNLQG 13,708.75 15,929.20 Considered Doubtful $GYDQFHVUHFRYHUDEOHLQFDVKRUNLQG 290.00 290.00 51,959.69 27,777.89 /HVV 3URYLVLRQIRURWKHUGRXEWIXOORDQVDQGDGYDQFHV 290.00 290.00 727$/ 51,669.69 27,487.89 20 OTHER CURRENT ASSETS 7R5HODWHGSDUWLHV ,QWHUHVWDFFUXHGRQORDQV 5HIHU1RWH - 34.02 7RSDUWLHVRWKHUWKDQ5HODWHGSDUWLHV ,QWHUHVWDFFUXHGRQGHSRVLWVDQGLQYHVWPHQWV 86.24 42.69 ([SRUWEHQH¿WUHFHLYDEOH 356.90 304.28 ,QWHUHVWDFFUXHGRQORDQV 0.20 0.42 (DUQHVW0RQH\GHSRVLW - 1.07 727$/ 443.34 382.48 21 REVENUE FROM OPERATIONS 6DOHRISURGXFWV 5HIHU1RWH L EHORZ 829,851.46 732,389.33 6DOHRIVHUYLFHV 5HIHU1RWH LL EHORZ 20.56 25.04 2WKHURSHUDWLQJUHYHQXHV 5HIHU1RWH LLL EHORZ 7,331.73 7,093.40 837,203.75 739,507.77 /HVV ([FLVHGXW\ 17,533.19 12,391.91 727$/ 819,670.56 727,115.86 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV For the For the year ended year ended 31st March, 31st March, 2015 2014 Note (i) 6DOHRISURGXFWVFRPSULVHV Manufactured goods 7HD 13,955.15 15,121.94 &RIIHH 1,502.05 1,066.17 $XWRHOHFWULFFRPSRQHQWV6ZLWFKHV6RORQRLGVHWF 10,170.86 11,177.06 3HSSHU7LPEHUHWF 568.02 555.80 %LVFXLWVDQGGDLU\SURGXFWV 794,418.00 694,552.00 :HLJKLQJ3URGXFWV 198.40 169.12 +RUWLFXOWXUHDQG/DQGVFDSLQJVHUYLFHV 6,132.62 5,203.06 'HQWDO3URGXFWV 2,030.00 1,944.83 Sub-Total 828,975.10 729,789.98 Traded goods 7HD 23.87 20.28 &RIIHH 680.47 2,376.61 :HLJKLQJSURGXFWV 11.59 14.50 'HQWDOSURGXFWV 160.43 187.96 Sub-Total 876.36 2,599.35 727$/ 829,851.46 732,389.33 Note (ii) 6DOHRIVHUYLFHVFRPSULVHV :HLJKLQJ3URGXFWV 20.56 25.04 727$/ 20.56 25.04 Note (iii) 2WKHURSHUDWLQJUHYHQXHVFRPSULVH 6DOHRIVFUDS 2,817.32 2,435.69 5R\DOW\LQFRPH 236.00 243.00 'XW\GUDZEDFNDQGRWKHUH[SRUWLQFHQWLYHV 410.09 401.11 ([SHQVHVUHFRYHUHGIURPYDULRXVFRPSDQLHV 115.18 115.22 5HQW LQFOXGLQJKLUHFKDUJHVOHDVHUHQWRQPDFKLQHU\ 85.14 85.17 2WKHUUHFHLSWV 5HIHU1RWH 3,668.00 3,813.21 727$/ 7,331.73 7,093.40 Annual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV For the For the year ended year ended 31st March, 31st March, 2015 2014 22 OTHER INCOME ,QWHUHVWLQFRPH 5,476.68 2,544.56 'LYLGHQGLQFRPHIURP &XUUHQWLQYHVWPHQWV 71.11 69.95 /RQJ7HUPLQYHVWPHQWV 240.20 300.19 1HWJDLQRQVDOHRIORQJWHUPLQYHVWPHQWV&XUUHQWLQYHVWPHQWV 4,713.10 1,059.10 1HW JDLQ RQ IRUHLJQ FXUUHQF\ WUDQVDFWLRQV DQG WUDQVODWLRQ RWKHU WKDQ 2,733.95 909.09 FRQVLGHUHGDV¿QDQFHFRVW 2WKHUQRQRSHUDWLQJLQFRPH 5HIHU1RWHEHORZ 2,314.68 3,895.86 727$/ 15,549.72 8,778.75 Note 2WKHUQRQRSHUDWLQJLQFRPH 5HQWDOLQFRPHIURPLQYHVWPHQWSURSHUWLHV 19.41 21.92 3UR¿WRQVDOHRI¿[HGDVVHWV 100.74 1,053.86 /LDELOLWLHV3URYLVLRQVQRORQJHUUHTXLUHGZULWWHQEDFN 1,809.47 2,148.26 3URYLVLRQVIRUGRXEWIXOGHEWVZULWWHQEDFN - 59.89 0LVFHOODQHRXVLQFRPH 385.06 611.93 727$/ 2,314.68 3,895.86 23 COST OF MATERIALS CONSUMED 0DWHULDOFRQVXPHGFRPSULVHV &KHPLFDOV 1,113.78 1,067.54 %RXJKW/HDI 1,604.49 2,009.24 0DWHULDOVIRU%LVFXLWDQG'DLU\3URGXFWV 411,997.00 365,740.00 $XWR(OHFWULF&RPSRQHQWV 5,330.71 5,593.41 1XUVHU\DQGSODQWDWLRQ 2,001.45 791.88 727$/ 422,047.43 375,202.07 23 PURCHASE OF STOCK-IN-TRADE 7HD 60.73 15.27 &RIIHH 1,301.14 707.90 :HLJKLQJ3URGXFWV 6.91 6.56 'HQWDO3URGXFWV 102.85 115.32 %LVFXLWDQG'DLU\3URGXFWV 60,224.00 52,513.00 3ODQWVDQG3RWV 3,432.90 3,427.72 727$/ 65,128.53 56,785.77 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV For the For the year ended year ended 31st March, 31st March, 2015 2014 23 CHANGES IN INVENTORIES OF FINISHED GOODS, WORK-IN-PROGRESS AND STOCK-IN-TRADE ,QYHQWRULHVDWWKHHQGRIWKH\HDU )LQLVKHGJRRGV LQFOXGLQJJRRGVLQWUDQVLW 24,689.70 19,599.04 :RUNLQSURJUHVV 390.40 335.48 6WRFNLQ7UDGH 2,896.17 3,405.80 27,976.27 23,340.32 ,QYHQWRULHVDWWKHEHJLQQLQJRIWKH\HDU )LQLVKHGJRRGV LQFOXGLQJJRRGVLQWUDQVLW 19,599.04 21,041.70 :RUNLQSURJUHVV 335.48 506.32 6WRFNLQ7UDGH 3,405.80 1,812.00 23,340.32 23,360.02 1HW LQFUHDVH GHFUHDVH (4,635.95) 19.70 24 EMPLOYEE BENEFITS EXPENSE 6DODULHVDQGZDJHV 34,823.82 32,792.52 &RQWULEXWLRQVWRSURYLGHQWDQGRWKHUIXQGV 5HIHU1RWH 2,446.96 2,590.53 6WDIIZHOIDUHH[SHQVHV 1,882.85 1,424.38 /HVV 7UDQVIHUUHGWR5HDO(VWDWHXQGHUGHYHORSPHQW 5HIHU1RWH 302.34 84.01 727$/ 38,851.29 36,723.42 25 FINANCE COSTS ,QWHUHVWH[SHQVHRQ %DQN%RUURZLQJV 4,000.38 4,260.19 )LQDQFH/HDVH 7.00 5.00 9HKLFOH/RDQ 2.25 3.09 %DQN&KDUJHV 56.15 48.52 727$/ 4,065.78 4,316.80 Annual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV For the For the year ended year ended 31st March, 31st March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¿[HGDVVHWVVROGVFUDSSHGZULWWHQRII QHW 645.79 - /RVVRQVDOHRI,QYHVWPHQWVLQDVVRFLDWHFRPSDQLHV - 10.00 3URYLVLRQIRUGRXEWIXOWUDGHDQGRWKHUUHFHLYDEOHVORDQVDQGDGYDQFHV QHW 375.63 4.45 7HFKQLFDONQRZKRZIHHV5R\DOW\ 19.28 25.00 0LVFHOODQHRXVH[SHQVHV 22,527.94 20,909.63 /HVV 7UDQVIHUUHGWR5HDOHVWDWHXQGHUGHYHORSPHQW 5HIHU1RWH 63.56 93.94 727$/ 212,703.31 195,486.52 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS `LQ/DNKV For the For the year ended year ended 31st March, 31st March, 2015 2014 &2675(/$7,1*725($/(67$7(81'(5'(9(/230(17 2SHQLQJLQYHQWRU\5HDOHVWDWHXQGHUGHYHORSPHQW 2,140.12 1,987.38 $GG ([SHQGLWXUHUHODWLQJWRUHDOHVWDWHGLYLVLRQLQFXUUHGGXULQJWKH\HDU 3D\PHQWVWRDQGSURYLVLRQIRUHPSOR\HHV 5HIHU1RWH 302.34 84.01 &RQWUDFWUHWDLQHUVKLSIHHV 5HIHU1RWH 38.97 27.45 7UDYHOOLQJDQGRWKHUH[SHQVHV 5HIHU1RWH 24.59 66.49 365.90 177.95 2,506.02 2,165.33 &ORVLQJ,QYHQWRU\RI5HDOHVWDWHXQGHUGHYHORSPHQW 5HIHU1RWH 2,415.32 2,140.12 727$/ 90.70 25.21 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Lakhs) &RQWLQJHQWOLDELOLWLHVGLVFORVHGDERYHUHSUHVHQWSRVVLEOHREOLJDWLRQVZKHUHSRVVLELOLW\RIFDVKRXWÀRZWR VHWWOHWKHREOLJDWLRQVLVQRWUHPRWH7KHDERYHGRHVQRWLQFOXGHQRQTXDQWL¿DEOHLQGXVWULDOGLVSXWHVDQG RWKHUOHJDOGLVSXWHVSHQGLQJEHIRUHYDULRXVMXGLFLDODXWKRULWLHV 5HIHU1RWH 7KH*URXSEHOLHYHVEDVHG RQFXUUHQWNQRZOHGJHDQGDIWHUFRQVXOWDWLRQZLWKHPLQHQWOHJDOFRXQVHOWKDWWKHUHVROXWLRQRIWKHDERYH PDWWHUZLOOQRWKDYHPDWHULDODGYHUVHHIIHFWRQWKH&RQVROLGDWHG¿QDQFLDOVWDWHPHQWVRIWKH*URXS 30.7KH HVWLPDWHG DPRXQW RI FRQWUDFWV UHPDLQLQJ WR EH H[HFXWHG RQ &DSLWDO $FFRXQW DQG QRW SURYLGHG IRU ` /DNKV(Previous Year ` 2,140.61 Lakhs) 31. 9DULDQFHLQ8QLIRUP$FFRXQWLQJ3ROLFLHVEHWZHHQ*URXSDQG6XEVLGLDULHV$VVRFLDWHV D &HUWDLQVXEVLGLDULHVDQGDVVRFLDWHVRIWKH*URXSKDYHSURYLGHGGHSUHFLDWLRQRQDOOWKH¿[HGDVVHWVRQ ZULWWHQGRZQYDOXHPHWKRGZKLFKLVLQYDULDQFHWRWKHPHWKRGDGRSWHG7KHYDOXHRIVXFKLWHPVLVDV XQGHU `LQ/DNKV 1DPHRI6XEVLGLDU\$VVRFLDWH *URVV9DOXHRI)L[HG$VVHWV $IFR,QGXVWULDODQG&KHPLFDOV/LPLWHG 111.12 (111.12) '3,3URGXFWV 6HUYLFHV/LPLWHG 58.71 (58.71) ,QRU0HGLFDO3URGXFWV/LPLWHG 5HIHU1RWH - (976.89) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU E ,Q UHVSHFW RI DVVHWV KHOG E\ - % 0DQJKDUDP )RRGV 3ULYDWH /LPLWHG DQG *DQJHV 9DOO\)RRGV 3ULYDWH /LPLWHG VXEVLGLDULHV GHSUHFLDWLRQLVSURYLGHGRQDZULWWHQGRZQYDOXHEDVLVRYHULWVH[SHFWHGXVHIXO OLIH7KHZULWWHQGRZQYDOXHRIDVVHWVDVRQVW0DUFKDPRXQWVWR` /DNKVDQG` /DNKV(Previous year: ` 837.00 Lakhs and ` 383.00 Lakhs)IRU-%0DQJKDUDP)RRGV3ULYDWH/LPLWHGDQG *DQJHV9DOO\)RRGV3ULYDWH/LPLWHGUHVSHFWLYHO\7KHLPSDFWRIWKHGHSUHFLDWLRQFRPSXWHGXQGHUWKH VWUDLJKWOLQHPHWKRGLVQRWPDWHULDO F ,QUHVSHFWRIIROORZLQJRQHRIWKHVXEVLGLDU\LQYHQWRULHVDUHYDOXHGDWFRVWFRPSXWHGXQGHU¿UVWLQ¿UVW RXWEDVLV7KHYDOXHRIWKHVHLQYHQWRULHVLVDVJLYHQEHORZ `LQ/DNKV 1DPHRIVXEVLGLDU\ &XUUHQW The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS UHFRJQLVHGLQWKHVWDWHPHQWRISUR¿WDQGORVV:LWKUHVSHFWWR$O6DOODQ)RRG,QGXVWULHV&R6$2& 2PDQWKH&RUSRUDWLRQKDVWDNHQRQOHDVHDSORWRIODQGIRUIDFWRU\SUHPLVHVDW6RKDUIURPWKH3XEOLF 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($51,1*63(56+$5( ` in Lakhs Current Year Previous Year $ 1HW3UR¿WIRUFDOFXODWLRQRI(DUQLQJVSHU6KDUH QXPHUDWRU 35,687.29 20,711.28 % :HLJKWHG$YHUDJHQXPEHURIHTXLW\VKDUHV GHQRPLQDWRU 1RV 6,97,71,900 6,97,71,900 & %DVLFDQG'LOXWHG(DUQLQJVSHUVKDUHV $% LQ5XSHHV 51.15 29.68 ' 1RPLQDOYDOXHSHUHTXLW\VKDUH LQ5XSHHV 2 2 6(*0(17,1)250$7,21 A. Primary Segment Reporting (by Business Segment) 7KH*URXS¶VEXVLQHVVVHJPHQWVLVEDVHGRQSURGXFWOLQHVZKLFKDUHDVXQGHU ¾ Plantation Products 6HJPHQWSURGXFHVWUDGHVLQ7HD&RIIHH7LPEHU&DUGDPRPDQG3HSSHU ¾ Auto Electric Components 6HJPHQWPDQXIDFWXUHV6RORQRLGVVZLWFKHVYDOYHVVOLSULQJVHWFIRUDXWRPRELOHDQGRWKHULQGXVWULHV Annual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS ¾ Weighing Products 6HJPHQWPDQXIDFWXUHVWUDGHVLQ$QDO\WLFDODQG3UHFLVLRQ%DODQFHVDQG:HLJKLQJ6FDOHV ¾ Investments 6HJPHQWLQYHVWVLQYDULRXVVHFXULWLHVOLVWHGDVZHOODVXQOLVWHGPDLQO\RQDORQJWHUPEDVLV ¾ Health Care 6HJPHQWPDQXIDFWXUHVWUDGHVLQ'HQWDOSURGXFWV ¾ Horticulture 6HJPHQWGHDOVZLWKGHFRUDWLYHSODQWVDQGODQGVFDSLQJVHUYLFHV ¾ Real Estate 6HJPHQWUHSUHVHQWVSURSHUW\GHYHORSPHQW ¾ )RRG±%DNHU\DQG'DLU\3URGXFWV 6HJPHQWUHSUHVHQWVEDNHU\DQGGDLU\SURGXFWZKLFKLQFOXGHVELVFXLWVEUHDGFDNHVHWF LL 6HJPHQW5HYHQXHV5HVXOWVDQG2WKHU,QIRUPDWLRQ ` LQ/DNKV Continuing Operations Plantation Health Auto Weighing Investments Real Estate Horticulture Food Total of Care Electric Products - Bakery Reportable Component & Dairy Segments Products Revenue 17,097.75 2,192.30 9,739.87 209.91 - - 6,106.78 7,84,100.00 8,19,446.68 from (19,438.98) (2,135.28) (10,621.88) (191.91) (-) (-) (5,203.06) (689,270.00) (726,861.11) operations (Net of excise duty) Other Income 233.76 0.42 64.36 4.33 9,573.54 - 33.67 2,178.00 12,088.08 (92.25) (0.61) (7.85) (3.65) (3,090.39) (-) (146.94) (5,360.00) (8,701.69) Segment 17,331.51 2,192.72 9,804.23 214.24 9,573.54 - 6,140.45 7,86,278.00 8,31,534.69 Revenues (19,518.27) (2,135.89) (10,629.73) (195.56) (3,090.39) (-) (5,203.06) (6,92,693.57) (733,466.47) Segment -69.85 471.66 1,346.45 12.21 9,573.54 -90.70 943.60 84,782.62 96,969.53 Results (1,103.88) (398.01) (1,497.56) (17.04) (3,090.39) (- 25.51) (2,293.44) (55,787.68) (64,162.49) Segment 19,613.88 1,307.92 6,711.95 307.00 1,07,109.66 2,415.35 10,474.24 1,95,398.00 3,43,338.00 Assets (32,487.58) (1,142.09) (6,976.08) (323.34) (44,080.82) (2,140.15) (14,939.55) (183,400.00) (285,489.61) Segment 23,173.53 191.44 2,595.62 61.73 - - 2,364.07 1,55,538.00 1,83,924.39 Liabilities (14,136.52) (169.54) (1,874.14) (37.86) (-) (-) (5,790.25) (1,31,304.00) (153,312.31) Capital 1,610.58 2.85 235.16 - - - 189.20 10,152.00 12,189.79 Expenditure (991.90) (25.17) (284.89) (0.17) (0.40) (-) (149.80) (13,970.00) (15,422.33) (included in segment assets) Depreciation/ 359.43 12.37 222.64 12.11 - - 362.48 14,448.00 15,417.63 Amortisation (356.34) (9.00) (252.47) (13.12) (-) (0.30) (341.57) (8,371.99) (9,344.79) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS LLL 5HFRQFLOLDWLRQRI5HSRUWDEOH6HJPHQWVZLWKWKH)LQDQFLDO6WDWHPHQWV ` LQ/DNKV Revenues Results / Assets Liabilities Capital Depreciation/ Net Profits Expenditure Amortisation Total of Reportable Segments 831,534.69 96,969.53 343,338.00 183,924.39 12,189.79 15,417.63 (733,466.47) (64,162.49) (285,489.61) (153,312.31) (15.422.33) (9,344.79) Corporate / Unallocated Segment 3,685.59 3,171.76* 105,917.08 34,888.23 76.57 82.05 (2,428.14) (-1,985.44)* (82,678.14) (36,786.54) (16.83) (76.07) Interest - -4,065.78 - --- (-) (- 4,316.79) (-) (-) (-) (-) Taxes - -26,496.22 ---- (-) (-17,692.99) (-) (-) (-) (-) Minority Interest - -33,913.00 - 71,894.43 -- (-) (-19,482.99) (-) (48,662.15) (-) (-) Share of Profit / (Loss) from Associates - 21.00 ---- (-) (-27.00) (-) (-) (-) (-) As per Financial Statement 835,220.28 35,687.29 449,255.08 290,707.05 12,266.36 15,499.68 (735,894.61) (20,711.28) (368,167.75) (238,761.06) (19,460.16) (9,420.86) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU &RPSULVLQJ3UR¿WRQVDOHRIXQGHUWDNLQJV¿[HGDVVHWV0DQDJHPHQW&KDUJHVUHFRYHUHGDQG/RVVRQ ([FKDQJH QHW % 6HFRQGDU\VHJPHQW5HSRUWLQJ E\*HRJUDSKLFDO6HJPHQW ` LQ/DNKV 'RPHVWLF ([SRUWV 7RWDO 5HYHQXHV 814,670.31 20,549.97 835,220.28 (714,851.89) (21,042.72) (735,894.61 7RWDO$VVHWV 336,721.45 112,533.69 449,255.14 (343,210.05) (24,957.70) (368,167.75) &DSLWDO([SHQGLWXUH 12,074.44 191.92 12,266.36 (19,292.18) (167.98) (19,460.16) )LJXUHVLQEUDFNHWVDUHLQUHVSHFWRIWKHSUHYLRXV\HDU ,WLQFOXGHVUHYHQXHVDQGDVVHWVRIIRUHLJQEUDQFKHVDQGIRUHLJQVXEVLGLDULHV 35. Related Party Disclosures 5HODWHGSDUW\GLVFORVXUHVDVUHTXLUHGE\ $6 ³5HODWHG3DUW\'LVFORVXUHV´DUHJLYHQEHORZ .H\0DQDJHPHQW3HUVRQQHO 0U$VKRN3DQMZDQL±0DQDJLQJ'LUHFWRU7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/LPLWHG 0U1HVV:DGLD±0DQDJLQJ'LUHFWRU7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/LPLWHG 0V9LQLWD%DOL±(UVWZKLOH0DQDJLQJ'LUHFWRU%ULWDQQLD,QGXVWULDO/WG 0U9DUXQ%HUU\0DQDJLQJ'LUHFWRU%ULWDQQLD,QGXVWULDO/WG Directors of overseas Subsidiaries 0U-D\DQW6*DGJLO 0U$OEHUW*HRZ&KZHH+LDP 'U&KXD(QJ6LDQ 0LFKDHO/LP+HH.LDQJ 5DELQGUD6DQWKDQDVHJLUD Annual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS 3DWULFN.HQQHG\&DVVHOV 7DL Company Secretary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¿O,QYHVWPHQWV/LPLWHG ZHIVW$SULO ,VODQG+RUWL7HFK/DQGV3WH/LPLWHG The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS 7KHIROORZLQJWUDQVDFWLRQVZHUHFDUULHGRXWZLWKWKHUHODWHGSDUWLHVLQWKHRUGLQDU\FRXUVHRIEXVLQHVV 'HWDLOVUHODWLQJWRWKHSDUWLHVUHIHUUHGWRLQLWHPVDQGDERYH (` in Lakhs) Details Relationship Year ended Year ended 31st March, 2015 31st March, 2014 3XUFKDVH RI ¿QLVKHG JRRGV FRQVXPDEOHV and ingredients 1DODQGD%LVFXLWV&RPSDQ\/LPLWHG Associates 7776.00 6401.00 6DOH RI *RRGV FRQVXPDEOHV DQG ingredients 1DODQGD%LVFXLWV&RPSDQ\/LPLWHG Associates 50.00 77.00 Conversion charges paid .ODVVLN)RRGV3ULYDWH/LPLWHG Associates 409.00 420.00 Rent Income ,QRU0HGLFDO3URGXFWV/LPLWHG Associates 34.80 69.30 %RPED\ '\HLQJ 0DQXIDFWXULQJ &RPSDQ\ 2WKHUUHODWHGSDUW\ 1.56 - /LPLWHG Rent Paid ,VODQG+RUWL7HFK/DQGV3WH/LPLWHG 2WKHUUHODWHGSDUW\ 8.10 8.46 ([SHQVHV5HFRYHUHG ,QRU0HGLFDO3URGXFWV/LPLWHG Associates 32.50 65.00 ([SHQVHV&KDUJHGE\WKHP ,QRU0HGLFDO3URGXFWV/LPLWHG Associates 0.36 - %RPED\ '\HLQJ 0DQXIDFWXULQJ &RPSDQ\ 2WKHUUHODWHGSDUW\ 57.69 - /LPLWHG ([SHQVHV&KDUJHGWRWKHP ,QRU0HGLFDO3URGXFWV/LPLWHG Associates - 0.24 %RPED\ '\HLQJ 0DQXIDFWXULQJ &RPSDQ\ 2WKHUUHODWHGSDUW\ 5.92 - /LPLWHG Interest income ,QRU0HGLFDO3URGXFWV/LPLWHG Associates 72.80 121.13 *R$LUOLQHV/LPLWHG 2WKHUUHODWHGSDUW\ 445.05 535.91 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\ 426.16 - .ODVVLN)RRGV3ULYDWH/LPLWHG Associates 2.00 - Interest Paid 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\ 1.26 - Dividend Income %RPED\ '\HLQJ 0DQXIDFWXULQJ &RPSDQ\ 2WKHUUHODWHGSDUW\ 237.16 - /LPLWHG Dividend Paid 0U1HVV:DGLD .03 0.05 0.15 Interest on loan given to KMP’s 0U$VKRN3DQMZDQL .03 1.50 1.50 0U1LWLQ+'DWDQZDOD .03 0.63 - Annual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS (` in Lakhs) Details Relationship Year ended Year ended 31st March, 2015 31st March, 2014 Commission Received ,QRU0HGLFDO3URGXFWV/LPLWHG Associates 26.00 48.44 Remuneration# 0U$VKRN3DQMZDQL .03 177.67 230.83 0U1HVV:DGLD .03 340.88 243.52 0V9LQLWD%DOL .03 - 411.00 0U9DUXQ%HUU\ .03 396.00 116.00 0U -D\DQW *DGJLO 0U $OEHUW *HRZ &KZHH .03 229.40 240.04 +LDP 0U 3DWULFN .HQQHG\ &DVVHOV 0V 7DL Retainer Fees 0U1LWLQ+'DWDQZDOD .03 64.45 - Consideration received on share allotment under ESOS 0V9LQLWD%DOL .03 - 1,353.00 6KDUHV DOORWWHG XQGHU HPSOR\HH VWRFN option scheme for consideration received during the year (2012-13) 0V9LQLWD%DOL .03 - 229.00 6KDUHRI&XUUHQW The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS (` in Lakhs) Details Relationship Year ended Year ended 31st March, 2015 31st March, 2014 Unsecured Loan Paid 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\ 132.00 - Loan given to KMP’s 0U1LWLQ+'DWDQZDOD .03 9.00 - Loan repaid by KMP’s 0U1LWLQ+'DWDQZDOD .03 9.00 - $GYDQFH,QWHU&RUSRUDWHGHSRVLWVUHFHLYHG ,QRU0HGLFDO3URGXFWV/LPLWHG Associates 600.00 250.00 *R$LUOLQHV/LPLWHG 2WKHUUHODWHGSDUW\ - 2,930.00 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\ 884.00 - /RWXV9LQL\RJ3ULYDWH/LPLWHG Associates 7.27 - 06,/,QYHVWPHQWV3ULYDWH/LPLWHG Associates 2.75 - $GYDQFH,QWHU&RUSRUDWHGHSRVLWVSDLG ,QRU0HGLFDO3URGXFWV/LPLWHG Associates 500.00 - *R$LUOLQHV/LPLWHG 2WKHUUHODWHGSDUW\ - 6,800.00 %RPED\ '\HLQJ 0DQXIDFWXULQJ &RPSDQ\ 2WKHUUHODWHGSDUW\ 60.63 - /LPLWHG 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\ 7,164.00 - 2XWVWDQGLQJ DV DW \HDU HQG UHFHLYDEOHV (payables) (net) .ODVVLN)RRGV3ULYDWH/LPLWHG Associates (12.00) (6.00) 1DODQGD%LVFXLWV&RPSDQ\/LPLWHG Associates (56.00) 70.00 ,QRU0HGLFDO3URGXFWV/LPLWHG Associates - 1,174.56 *R$LUOLQHV/LPLWHG 2WKHUUHODWHGSDUW\ 3,870.00 3,870.00 %RPED\ '\HLQJ 0DQXIDFWXULQJ &RPSDQ\ 2WKHUUHODWHGSDUW\ 15.70 - /LPLWHG /RWXV9LQL\RJ3ULYDWH/LPLWHG Associates - 7.27 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\ 6,280.00 - 0U$VKRN3DQMZDQL .03 50.00 50.00 0U1LWLQ+'DWDQZDOD .03 12.00 - Total 10,159.70 5,165.83 Interest Accrued *R$LUOLQHV/LPLWHG 2WKHUUHODWHGSDUW\ - 34.02 Security Deposit Payable %RPED\ '\HLQJ 0DQXIDFWXULQJ &RPSDQ\ 2WKHUUHODWHGSDUW\ 300.00 - /LPLWHG Equity Investments in Associate company +DUYDUG3ODQWDWLRQV/LPLWHG Associates 4.75 - 3ODFLG3ODQWDWLRQV/LPLWHG Associates 4.75 - Investments in 5% Non-Convertible Redeemable Preference Shares (NCRPS) /RWXV9LQL\RJ/LPLWHG Associates 4.00 - /LPD,QYHVWPHQW 7UDGLQJ&RPSDQ\3ULYDWH Associates 4.00 - /LPLWHG 150 Annual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS (` in Lakhs) Details Relationship Year ended Year ended 31st March, 2015 31st March, 2014 &LQFLQQDWL ,QYHVWPHQW 7UDGLQJ &RPSDQ\ Associates 3.75 - 3ULYDWH/LPLWHG 5RVKQDUD ,QYHVWPHQWV 7UDGLQJ &RPSDQ\ Associates 3.75 - 3ULYDWH/LPLWHG 6KDGKDN ,QYHVWPHQW 7UDGLQJ 3ULYDWH Associates 4.00 - /LPLWHG 06,/,QYHVWPHQWV3ULYDWH/LPLWHG Associates 4.00 - ,QYHVWPHQWV ,QFOXGLQJJRRGZLOO .ODVVLN)RRGV3ULYDWH/LPLWHG Associates 94.00 91.00 1DODQGD%LVFXLWV&RPSDQ\/LPLWHG Associates (4.00) (22.00) 9DVQD$JUH[DQG+HUEV3ULYDWH/LPLWHG Associates 1.00 1.00 5RVKQDUD ,QYHVWPHQWV 7UDGLQJ &RPSDQ\ Associates 4.48 4.65 3ULYDWH/LPLWHG &LQFLQQDWL ,QYHVWPHQW 7UDGLQJ &RPSDQ\ Associates 4.46 4.63 3ULYDWH/LPLWHG /LPD,QYHVWPHQW 7UDGLQJ&RPSDQ\3ULYDWH Associates 4.52 4.68 /LPLWHG 6KDGKDN ,QYHVWPHQW 7UDGLQJ 3ULYDWH Associates 4.55 4.70 /LPLWHG /RWXV9LQL\RJ3ULYDWH/LPLWHG Associates 35.49 35.09 06,/,QYHVWPHQWV3ULYDWH/LPLWHG Associates 4.45 4.62 ,QRU0HGLFDO3URGXFWV/LPLWHG Associates - 84.05 0HGLFDO0LFURWHFKQRORJ\/LPLWHG Associates 4.29 4.29 +DUYDUG3ODQWDWLRQV/LPLWHG Associates 4.75 - 3ODFLG3ODQWDWLRQV/LPLWHG Associates 4.75 - Total 162.74 216.71 Provision for Investment 9DVQD$JUH[DQG+HUEV3ULYDWH/LPLWHG Associates 1.00 1.00 7KHDERYHGRHVQRWLQFOXGHUHODWHGSDUW\WUDQVDFWLRQVZLWKUHWLUDOIXQGVDVNH\PDQDJHPHQWSHUVRQQHOZKRDUH WUXVWHHVRIWKHIXQGVFDQQRWLQGLYLGXDOO\H[HUFLVHVLJQL¿FDQWLQÀXHQFHRQWKHUHWLUDOIXQGVWUDQVDFWLRQV 7KHDERYHLQIRUPDWLRQKDVEHHQGHWHUPLQHGWRWKHH[WHQWVXFKSDUWLHVKDYHEHHQLGHQWL¿HGRQWKHEDVLVRI LQIRUPDWLRQDYDLODEOHZLWKWKH*URXSDQGUHOLHGXSRQE\WKH$XGLWRUV 7KHIROORZLQJDUHWKHGHWDLOVRIJRRGZLOOFDSLWDOUHVHUYHLQFOXGHGLQLQYHVWPHQWVLQDVVRFLDWHVPDGHE\WKH &RUSRUDWLRQ6XEVLGLDULHVRIWKH&RUSRUDWLRQ RWKHUWKDQIRUDVVRFLDWHVRI%ULWDQQLD,QGXVWULHV/LPLWHG `LQ/DNKV Name of the Associate $PRXQWRI*RRGZLOO 6KDGKDN,QYHVWPHQWV 7UDGLQJ3ULYDWH/LPLWHG 0.09 06,/,QYHVWPHQWV3ULYDWH/LPLWHG 0.06 /LPD,QYHVWPHQWV 7UDGLQJ&RPSDQ\3ULYDWH/LPLWHG 0.23 /RWXV9LQL\RJ3ULYDWH/LPLWHG 2.02 151 The Bombay Burmah Trading Corporation, Limited NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS 5RVKQDUD,QYHVWPHQWV 7UDGLQJ&RPSDQ\3ULYDWH/LPLWHG 0.17 &LQFLQQDWL,QYHVWPHQWV 7UDGLQJ&RPSDQ\3ULYDWH/LPLWHG 0.04 ,QRU0HGLFDO3URGXFWV/LPLWHG - 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(PSOR\HH¶V%HQH¿W'LVFORVXUHDVUHTXLUHGXQGHU$FFRXQWLQJ6WDQGDUG $6 5HYLVHG DEFINED CONTRIBUTION PLAN 7KH*URXSKDVUHFRJQLVHGDQDPRXQWRI` /DNKV(previous year: ` 1,273.13 Lakhs)DVH[SHQVHV XQGHUWKHGH¿QHGFRQWULEXWLRQSODQVLQWKHVWDWHPHQWRISUR¿WDQGORVVIRUWKH\HDU 152 Annual Report 2014-2015 NOTES FORMING PART OF THE CONSOLIDATED FINANCIAL STATEMENTS ` LQ/DNKV 2014-15 2013-14 *URXS¶V&RQWULEXWLRQWR3URYLGHQW)XQG 951.01 843.47 *URXS¶V&RQWULEXWLRQWR3HQVLRQ)XQG 105.61 146.51 *URXS¶V&RQWULEXWLRQWR6XSHUDQQXDWLRQ)XQG 88.27 74.15 *URXS¶V)DPLO\3HQVLRQ6FKHPH 172.00 152.00 *URXS¶V&RQWULEXWLRQWR(PSOR\HHVWDWH,QVXUDQFH&RUSRUDWLRQ 54.00 57.00 *URXS¶V &RQWULEXWLRQ WRZDUGV IRUHLJQ GH¿QHG FRQWULEXWLRQ SODQ LQ - 59.55 DFFRUGDQFHZLWKORFDOODZV :LWKUHJDUGWRWKHDVVHWVRIIXQGDQGUHWXUQRQLQYHVWPHQWVWKH&RUSRUDWLRQGRHVQRWH[SHFWDQ\GH¿FLHQF\ LQIRUHVHHDEOHIXWXUH '(),1('%(1(),73/$1±*5$78,7< , 5HFRQFLOLDWLRQRI2SHQLQJDQG&ORVLQJEDODQFHVRI'H¿QHG%HQH¿W2EOLJDWLRQ ` LQ/DNKV 2014-15 2013-14 /LDELOLW\DWWKHEHJLQQLQJRIWKH\HDU 4,384.75 4,039.66 ,QWHUHVWFRVW 362.29 337.95 &XUUHQW6HUYLFHFRVW 298.08 272.32 %HQH¿WVSDLG (871.15) (444.74) $FWXDULDO JDLQ ORVVRQ2EOLJDWLRQV 523.88 179.56 /LDELOLW\DWHQGRIWKH\HDU 4,697.85 4,384.75 II. 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