Annual Report 2019-20

Total Page:16

File Type:pdf, Size:1020Kb

Annual Report 2019-20 Honeywell Automation India Limited CIN: L29299PN1984PLC017951 Regd. Office: 56 & 57, Hadapsar Industrial Estate, Pune - 411 013, Maharashtra Tel: +91 20 7114 8888 E-mail: India.Communications@Honeywell.com Website: https://www.honeywell.com/en-us/global/en-in/hail July 25, 2020 To To The Manager – Compliance Department The Manager – Compliance Department National Stock Exchange of India Limited BSE Limited ‘Exchange Plaza’ Bandra Kurla Complex, Floor 25, P.J.Tower, Dalal Street Bandra (East) Mumbai 400051 Mumbai 400001 NSE Symbol: HONAUT BSE Scrip Code: 517174 Dear Sir, Sub: Regulation 34 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 - Electronic copy of the Notice of the 36th Annual General Meeting (AGM) and the Annual Report of Honeywell Automation India Limited for the financial year 2019-20 This is further to our letter dated July 17, 2020 wherein the Company had informed that the Annual General Meeting (AGM) of the Company is scheduled to be held on Tuesday, August 18, 2020 at 4.00 p.m. (IST) through Video Conference / Other Audio-Visual Means, in accordance, with the relevant circulars issued by Ministry of Corporate Affairs and Securities and Exchange Board of India (SEBI). In terms of the requirements of Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are submitting herewith the Annual Report of the Company including the Business Responsibility Report and the Notice of AGM for the financial year 2019-20, which is also being sent through electronic mode to the Members. The Annual Report containing the Notice of Annual General Meeting is also uploaded on the Company’s website at https://www.honeywell.com/en-us/global/en-in/hail You are requested to kindly take the above information on record. Yours Sincerely, For Honeywell Automation India Limited Farah Irani Company Secretary Encl: A/a HONEYWELL AUTOMATION INDIA LIMITED 2019-20 Annual Report Honeywell Automation India Limited Annual Report 2019-20 Board of Directors (As on May 22, 2020) Contents Mr. Suresh Senapaty (Chairman & Independent Director) Notice ...............................................2-15 Ms. Neera Saggi (Independent Director) Board’s Report ................................16-45 Mr. Ashish Gaikwad (Managing Director) Management Discussion Mr. Akshay Bellare (Director) & Analysis Report ............................46-52 Mr. Ashish Modi (Director) Corporate Governance Report .......53-73 Business Responsibility Report .......74-86 Mr. Davies Walker (Director) Independent Auditor's Report..........87-97 Balance Sheet ......................................98 Senior Management Team (As on May 22, 2020) Statement of Profit and Loss ................99 Mr. Ashish Gaikwad Head – Process Solutions Statement of Cash Flow...............100-101 Mr. Ritwij Kulkarni Head – Building Solutions Statement of Changes in Equity ..........102 Mr. Rahul Sharma Head – Global Services Notes 1 to 39 ...............................103-150 Mr. Gajanan Lahane Head – Global Manufacturing Mr. Hemant Khattar Building Management System Leader Mr. Girish Karhadkar Sensing & IOT Leader Mr. Amit Tantia Chief Financial Officer Mr. Amit Pandey Head – Legal Mr. Mahesh Joshi Head – Human Resources Mr. Nikhil Thakkar Head – Audit & Internal Controls Company Secretary Ms. Farah Irani Registrar & Transfer Agent: Auditors Bankers TSR Darashaw Consultants Pvt. Ltd. Deloitte Haskins & Sells LLP Citibank N. A. (Previously TSR Darashaw Ltd.) Chartered Accountants 6-10, Haji Moosa Patrawala Ind. Estate, 20, Dr. E. Moses Road, Mahalaxmi, Mumbai 400 011. Email: csg-unit@tsrdarashaw.com Website: http://www.tsrdarashaw.com Registered Office: 56 & 57, Hadapsar Industrial Estate, Pune – 411 013, Maharashtra CIN: L29299PN1984PLC017951 Tel: +91 20 7114 8888 Email: HAIL.InvestorServices@Honeywell.com Website: https://www.honeywell.com/en-us/global/en-in/hail 1 Notice Honeywell Automation India Limited Annual Report 2019-20 NOTICE is hereby given that the THIRTY SIXTH ANNUAL GENERAL MEETING (AGM) of HONEYWELL AUTOMATION INDIA LIMITED will be held on Tuesday, August 18, 2020 at 4.00 p.m. (IST) through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) to transact the following business. ORDINARY BUSINESS: 1. To receive, consider, and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2020, together with the Reports of the Board of Directors and the Auditors thereon. 2. To declare final dividend of INR 75/- per equity share for the financial year 2019-20. 3. To consider appointing a Director in place of Mr. Ashish Gaikwad (DIN: 07585079) who retires by rotation and being eligible offers himself for re-appointment. 4. To re-appoint Deloitte Haskins & Sells LLP, Chartered Accountants as Statutory Auditors of the Company for a further term of 5 years To consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Sections 139, 142 and other applicable provisions, if any, of the Companies Act, 2013, (“the Act”) read with the Companies (Audit and Auditors) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof for the time being in force), Deloitte Haskins & Sells LLP, Chartered Accountants (Firm Registration No. 117366W/W-100018), be and are hereby appointed as the Statutory Auditors of the Company to hold office for a term of 5 (Five) years from the conclusion of this Annual General Meeting till the conclusion of the 41st Annual General Meeting, at such remuneration as may be recommended/approved by the Audit Committee/Board of Directors of the Company from time to time. SPECIAL BUSINESS: 5. To approve appointment of Mr. Akshay Bellare as a Director of the Company. To consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Sections 149, 152, and other applicable provisions, if any, of the Companies Act, 2013 (“Act”) and the Rules made thereunder and pursuant to the recommendation of the Nomination and Remuneration Committee and approval accorded by the Board of Directors of the Company, Mr. Akshay Bellare (DIN: 07914236), who was appointed by the Board of Directors as an Additional (Non-Executive) Director of the Company with effect from October 22, 2019, and who holds office upto the date of this Annual General Meeting, in terms of Section 161 of the Act, be and is hereby appointed as a Director of the Company, liable to retire by rotation.” 6. To approve appointment of Mr. Ashish Modi as a Director of the Company. To consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Sections 149, 152, and other applicable provisions, if any, of the Companies Act, 2013 (“Act”) and the Rules made thereunder and pursuant to the recommendation of the Nomination and Remuneration Committee and approval accorded by the Board of Directors of the Company, Mr. Ashish Modi (DIN: 07680512), who was appointed by the Board of Directors as an Additional (Non-Executive) Director of the Company with effect from October 22, 2019, and who holds office upto the date of this Annual General Meeting, in terms of Section 161 of the Act, be and is hereby appointed as a Director of the Company, liable to retire by rotation.” 2 Notice Honeywell Automation India Limited Annual Report 2019-20 7. To approve appointment of Mr. Davies Walker as a Director of the Company. To consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Sections 149, 152, and other applicable provisions, if any, of the Companies Act, 2013 (“Act”) and the Rules made thereunder and pursuant to the recommendation of the Nomination and Remuneration Committee and approval accorded by the Board of Directors of the Company, Mr. Davies Walker (DIN: 08737978), who was appointed by the Board of Directors as an Additional (Non-Executive) Director of the Company with effect from May 13, 2020, and who holds office upto the date of this Annual General Meeting, in terms of Section 161 of the Act, be and is hereby appointed as a Director of the Company, liable to retire by rotation.” 8. To amend the Articles of Association of the Company. To consider and if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution: “RESOLVED THAT pursuant to the (i) provisions of Sections 14 and other applicable provisions, if any, of the Companies Act, 2013 read with the rules and regulations made thereunder (“Companies Act”) including any amendment, re-enactment or statutory modification thereof and such other statutes, notifications, circulars, rules and regulations as may be applicable and relevant, each as amended, modified or restated, (ii) the approval of the Board of Directors of the Company (“Board”) on May 22, 2020 and subject to such approvals, permissions, consents and sanctions, as may be required from any regulatory authority, if applicable, and further subject to such conditions and modifications as may be prescribed by such regulatory authority while granting such approvals, consents, permissions and sanctions, and which may be agreed to by the Board, the new set of draft articles of association of the Company in conformity with the provisions of the Companies Act, be and
Recommended publications
  • Remembering WWMCCS - Worldwide Military Command and Control System
    Remembering WWMCCS - WorldWide Military Command and Control System Recently I came across a web site describing the history and development of the WorldWide Military Command and Control System (WWMCCS) inter-computer network. This was our nation's first integrated military command and control system. And, back in the early 1970’s, it was one of the largest contracts ever awarded by the federal government. A review of the web site inspired me to recount a brief history about how I came to play a small role in this gigantic computer project. The World-Wide Military Command and Control System (WWMCCS) was a centrally managed information processing and exchange network consisting of large-scale Honeywell 6000 Series computer systems installed worldwide at geographically separate locations and interconnected by a dedicated wide-band, packet-switched communications subsystem. Back in 1971 Honeywell was awarded a $51.3 million (approximately $260 million in 2005 dollars) contract to supply The Department of Defense 27 Honeywell Model 6000 Series large-scale computer systems, all with common programs providing a rapid exchange of information among command centers. The first computer system was installed at the Strategic Air Command’s headquarters at Offutt AFB, Omaha, Nebraska. The dual Model 6070 computer system was shipped in three moving vans with a total weight of 62,898 pounds. My role in this gigantic project began after 1971 when General Electric sold their Computer Information Systems Division to Honeywell. As former GE computer division employee, I now found myself working for the Honeywell Federal Information Systems Division. One of the biggest reasons for the Honeywell’s acquisition of General Electric was to acquire their large scale GE-600 line of computers, as well as General Electric Computer Information Systems Division employees like myself with the knowledge and training to market, install, and support the GE-600 Computer Series.
    [Show full text]
  • Standards for Computer Aided Manufacturing
    //? VCr ~ / Ct & AFML-TR-77-145 )R^ yc ' )f f.3 Standards for Computer Aided Manufacturing Office of Developmental Automation and Control Technology Institute for Computer Sciences and Technology National Bureau of Standards Washington, D.C. 20234 January 1977 Final Technical Report, March— December 1977 Distribution limited to U.S. Government agencies only; Test and Evaluation Data; Statement applied November 1976. Other requests for this document must be referred to AFML/LTC, Wright-Patterson AFB, Ohio 45433 Manufacturing Technology Division Air Force Materials Laboratory Wright-Patterson Air Force Base, Ohio 45433 . NOTICES When Government drawings, specifications, or other data are used for any purpose other than in connection with a definitely related Government procurement opera- tion, the United States Government thereby incurs no responsibility nor any obligation whatsoever; and the fact that the Government may have formulated, furnished, or in any way supplied the said drawing, specification, or other data, is not to be regarded by implication or otherwise as in any manner licensing the holder or any person or corporation, or conveying any rights or permission to manufacture, use, or sell any patented invention that may in any way be related thereto Copies of this report should not be returned unless return is required by security considerations, contractual obligations, or notice on a specified document This final report was submitted by the National Bureau of Standards under military interdepartmental procurement request FY1457-76 -00369 , "Manufacturing Methods Project on Standards for Computer Aided Manufacturing." This technical report has been reviewed and is approved for publication. FOR THE COMMANDER: DtiWJNlb L.
    [Show full text]
  • A Survey of Remote Monitoring
    ' A111D3 DflTflDT NATL INST OF STANDARDS & TECH R.I.C. ' :E 8t TECHNOLOGY: A1 11 03089809 Nutt, Gary J/A survey of remote monltorl QC100 .U57 NO.500-, 42, 1979 C.I NBS-PUB A SURVEY OF REMOTE MONITORING NBS Special Publication 500-42 500-^2 19 U.S. DEPARTMENT OF COMMERCE National Bureau of Standards NATIONAL BUREAU OF STANDARDS The National Bureau of Standards' was established by an act of Congress March 3, 1901. The Bureau's overall goal is to strengthen and advance the Nation's science and technology and facilitate their effective application for public benefit. To this end, the Bureau conducts research and provides; (1) a basis for the Nation's physical measurement system, (2) scientific and technological services for industry and government, (3) a technical basis for equity in trade, and (4) technical services to promote public safety. The Bureau's technical work is performed by the National Measurement Laboratory, the National Engineering Laboratory, and the Institute for Computer Sciences and Technology. THE NATIONAL MEASUREMENT LABORATORY provides the national system of physical and chemical and materials measurement; coordinates the system with measurement systems of other nations and furnishes essential services leading to accurate and uniform physical and chemical measurement throughout the Nation's scientific community, industry, and commerce; conducts materials research leading to improved methods of measurement, standards, and data on the properties of materials needed by industry, commerce, educational institutions, and Government; provides advisory and research services to other Government Agencies; develops, produces, and distributes Standard Reference Materials; and provides calibration services. The Laboratory consists of the following centers: Absolute Physical Quantities^ — Radiation Research — Thermodynamics and Molecular Science — Analytical Chemistry — Materials Science.
    [Show full text]
  • Sperry Univac 11 00/80 System
    70C-877-14a Computers Sperry Univac 11 00/80 System MANAGEMENT SUMMARY The 1100/80 is a large-scale computer system available in a number of different First delivered in 1977, the 1100/80 is the middle member of the currently active 1100 Series family of large-scale configurations. The system can perform computer systems. In terms of performance, the 1100/80 effectively in a broad range of applications, including batch and interactive processing, fits between the smaller 1100/60 (Report 70C-877-12) and the top-of-the-line 1100/90 (Report 70C-877-16). The engineering/scientific applications, and 1100/80 is upwardly compatible with the 1100/90 and business data processing. supports the same peripqeral devices and the same software. MODELS: 1100/80, 1100/81, 1100/82, 1100/83, and 1100/84. The 1100/80 also supports the Array Processor Subsystem CONFIGURATION: From 512K to 8192K (APS), a powerful "number cruncher" designed for high­ words of main memory, from 1 to 4 CPUs, volume mathematical applications. Thus far, the APS is and from 4 to 104 I/O channels. available for the 1100/80 only. COMPETITION: Burroughs B 6800/7800, Honeywell DPS 8, IBM 303X Series. PRICE: Purchase prices range from PROCESSORS $1,389,628 to $6,128,808. All 1100/80 systems are based on the same 50-nanosecond central processor. Featuring multi-layer printed circuit CHARACTERISTICS boards, emitter-coupled logic (ECL), and a buffer memory, the 1100/80 systems can have up to 8 million MANU~ACTURER: Sperry Univac Division, Sperry Corporation, P.O. Box 500, Blue Bell, Pennsylvania 19424.
    [Show full text]
  • The World Wide Military Command and Control System Evolution and Effectiveness
    The World Wide Military Command and Control System Evolution and Effectiveness DAVID E. PEARSON Air University Press Maxwell Air Force Base, Alabama June 2000 Library of Congress Cataloging-in-Publication Data Pearson, David E. (David Eric), 1953- The world wide military command and control system : evolution and effectivenss / David E. Pearson. p. cm. Includes bibliographical references and index. ISBN 1-58566-078-7 1. Worldwide Military Command and Control System—History. I. Title. UB212.P43 2000 355.3’3041’0973—dc21 99-462377 Disclaimer Opinions, conclusions, and recommendations expressed or implied within are solely those of the author and do not necessarily represent the views of Air University, the United States Air Force, the Department of Defense, or any other US government agency. Cleared for public release: distribution unlimited. ii For My Children THIS PAGE INTENTIONALLY LEFT BLANK Contents Chapter Page DISCLAIMER . ii DEDICATION . iii ABOUT THE AUTHOR . ix PREFACE . xi INTRODUCTION . xiii Notes . xx PART I Conceptualization 1 Centralizing the Defense Establishment . 3 Notes . 17 2 Defense Communications Agency and System . 19 Notes . 31 3 National Military Command System . 33 Notes . 49 4 WWMCCS Is Born . 51 Notes . 69 5 Three WWMCCS Failures . 71 Notes . 91 PART II Formalization 6 WWMCCS Automatic Data Processing Upgrade . 95 Notes . 106 v Chapter Page 7 Centralizing Communications Management . 117 Notes . 134 8 The WWMCCS Council and the Modern WWMCCS Structure . 137 Notes . 159 9 The WWMCCS Architect and Architecture . 163 Notes . 182 10 WWMCCS Intercomputer Network . 185 Notes . 196 11 The Carter Administration and the Evolutionary Approach . 199 Notes . 215 12 Crises and Criticisms .
    [Show full text]
  • Investor Conference New York February 25, 2008 Forward Looking Statements
    Investor Conference New York February 25, 2008 Forward Looking Statements This report contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission. Honeywell Investor Conference – February 25, 2008 Agenda 11:30 LUNCH 12:30 INTRODUCTION Cote 1:00 AEROSPACE Gillette 1:20 GLOBALIZATION AND TECHNOLOGY Mahoney / Mikkilineni 1:45 BREAK 2:00 AUTOMATION AND CONTROL SOLUTIONS Fradin 2:20 INNOVATION Sheflin / Kramvis 2:45 TRANSPORTATION SYSTEMS Brown 3:00 HONEYWELL OPERATING SYSTEM Ismail 3:25 BREAK 3:40 SPECIALTY MATERIALS Dicciani 3:55 UOP Cabrera 4:20 FINANCIAL REVIEW Anderson 4:40 SUMMARY / Q&A Cote / All 5:10
    [Show full text]
  • Standards for Computer Aided Manufacturing
    //? VCr ~ / Ct & AFML-TR-77-145 )R^ yc ' )f f.3 Standards for Computer Aided Manufacturing Office of Developmental Automation and Control Technology Institute for Computer Sciences and Technology National Bureau of Standards Washington, D.C. 20234 January 1977 Final Technical Report, March— December 1977 Distribution limited to U.S. Government agencies only; Test and Evaluation Data; Statement applied November 1976. Other requests for this document must be referred to AFML/LTC, Wright-Patterson AFB, Ohio 45433 Manufacturing Technology Division Air Force Materials Laboratory Wright-Patterson Air Force Base, Ohio 45433 . NOTICES When Government drawings, specifications, or other data are used for any purpose other than in connection with a definitely related Government procurement opera- tion, the United States Government thereby incurs no responsibility nor any obligation whatsoever; and the fact that the Government may have formulated, furnished, or in any way supplied the said drawing, specification, or other data, is not to be regarded by implication or otherwise as in any manner licensing the holder or any person or corporation, or conveying any rights or permission to manufacture, use, or sell any patented invention that may in any way be related thereto Copies of this report should not be returned unless return is required by security considerations, contractual obligations, or notice on a specified document This final report was submitted by the National Bureau of Standards under military interdepartmental procurement request FY1457-76 -00369 , "Manufacturing Methods Project on Standards for Computer Aided Manufacturing." This technical report has been reviewed and is approved for publication. FOR THE COMMANDER: DtiWJNlb L.
    [Show full text]
  • Annual Report 2008
    Honeywell Automation India Ltd. Annual Report 2008 Board of Directors (As on 06/02/2009) Contents Mr. M. N. Bhagwat (Chairman & Independent Director) Notice ........................................... 2-4 Mr. S. S. Tedjarati (Director) Directors' Report .......................... 5-8 Mr. N. L. Gilsdorf (Director) Management Discussion Mr. G. F. Willis (Director) & Analysis Report ......................... 9-12 Mr. S. L. Rao (Independent Director) Auditors' Report ............................ 13-15 Mr. V. M. Kapur (Managing Director) Balance Sheet .............................. 16 Profit & Loss Account ................... 17 Ms. Sneha Padve (Company Secretary) Schedules 1 to 16......................... 18-38 Cashflow Statement ..................... 39 Senior Management Team General Business Profile .............. 40-41 Ananthnarayanan K. V. Head Legal Corporate Governance Report ..... 42-49 Aparanji Harsh Head Human Resources Bagaitkar Ravi Head Business Process Excellence Bhargava Ajay Head Integrated Supply Chain Kelkar Anant Head Information Technology Nemade Snehal Head Audit & Internal Controls Pai Atul Chief Financial Officer Honeywell Process Solutions Honeywell Building Solutions Abraham T. Joy Dharachar Girish Biswas Amitava Godbole Milind Joshi Hemant Rao Vasudeva Kumar Salil Shah Dharmesh Environment & Combustion Controls Sensing & Controls Export Business Pradhan Ninad Pradhan Sachin Bhatia Vivek Mirakhur Rohit Naik Jagdish Rajagopal KS Tumkur Savyasachi Registered Office Auditors Bankers 56 & 57, Hadapsar Price Waterhouse & Co. ABN-Amro Bank N.V. Industrial Estate, Chartered Accountants Citibank N. A. Pune 411 013 Registrar & Transfer Agent : TSR Darashaw Ltd. 6-10, Haji Moosa Patrawala Ind. Estate, 20, Dr. E. Moses Road, Mahalaxmi, Mumbai 400 011. 1 Honeywell Automation India Ltd. Notice Annual Report 2008 NOTICE is hereby given that the TWENTY-FIFTH ANNUAL GENERAL MEETING of HONEYWELL AUTOMATION INDIA LIMITED will be held at 3.00 p.m.
    [Show full text]