POST BOX NO 10077 THE BOMBAY BURMAH TRADING CORPORATION , LIMITED TEL. NOS +91 22 22197101

FAX .0091 22- 2207 1612 / 6772 N--/ REGD . OFFICE. 9, WALLACE STREET,FORT, Email bbtcl Abom2. vsnl.net . in 400 001, . WebsRe . www bbtd.com CIN. L99999MH1863PL0000002

Ref: GEN 16/2017-2018/16

11 1h August, 2017

General Manager, Department of Corporate Affairs, BSE Limited, P.J. Towers, Dalal Street, Mumbai - 400 001.

General Manager, National Stock Exchange of India Limited. Exchange Plaza , Bandra Kuria Complex. Mumbai - 400 051.

Dear Sirs.

Sub: Regulation 34 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations 2015 - Annual Report for the financial year 2016 - 17 of the 152nd Annual General Meeting of the Corporation.

Pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we are submitting herewith the Annual Report for the financial year 2016-17 duly approved and adopted by the members as per the provisions of the Companies Act, 2013, at the 152'd Annual General Meeting of the Corporation held on the 3`d August, 2017.

We request you to note the above and acknowledge the receipt.

Thanking you,

Yours faithfully, For The Bombay Burmah Trading Corporation. Limited

Jl ^ l N H. Datanwala Vice President Corporate & Company Secretary

Encl: as above The Bombay Burmah Trading Corporation, Limited

152nd ANNUAL REPORT 2016-17

A Tradition of Trust Contents

Location of Corporation’s Estates and Factories 2

Notice of Annual General Meeting 3-12

Directors’ Report 13-55

Management Discussion and Analysis 56-60

Business Responsibility Report 61-69

Auditors’ Report on Standalone Financial Statements 70-75

Financial Statements - Standalone 76-81

Notes forming part of Standalone Financial Statements 82-156

Auditors’ Report on Consolidated Financial Statements 157-161

Consolidated Financial Statements 162-168

Notes forming part of the Consolidated Financial Statements 169-262

Statement under section 129 (3) of the Companies Act, 2013 263-268

10 Years’ Financial Review 269

Route Map 270

Proxy Form 271-272

152nd Annual General Meeting Thursday, 3rd August, 2017 at 4.00 pm at Y B Chavan Auditorium, Gen. Jagannath Bhosle Marg, Mumbai 400 021. Annual Report 2016-2017

The Bombay Burmah Trading Corporation, Limited

ANNUAL REPORT 2016-2017

DIRECTORS NUSLI N. WADIA, Esq., Chairman

A. K. HIRJEE, Esq., Vice Chairman

M. L. APTE, Esq.

D. E. UDWADIA, Esq.

JEH WADIA, Esq.

RAJESH BATRA Esq. (w.e.f 30.3.2017)

Dr. (Mrs.) MINNIE BODHANWALA (w.e.f 30.3.2017)

Dr. (Mrs.) SHEELA BHIDE (upto 31.12.2016)

NESS WADIA, Esq., Managing Director

VICE PRESIDENT CORPORATE & COMPANY SECRETARY N. H. DATANWALA, Esq.

CHIEF FINANCIAL OFFICER AMIT CHHABRA, Esq.

REGISTERED OFFICE 9, WALLACE STREET, FORT, MUMBAI 400 001. Tel. No. 2219 7101

PRINCIPAL BANKERS/LENDERS HDFC BANK LIMITED AXIS BANK LIMITED KOTAK MAHINDRA BANK LIMITED THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED THE FEDERAL BANK LIMITED ICICI PRUDENTIAL MUTUAL FUND

AUDITORS B S R & CO., LLP Lodha Excelus 5th 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 & CO. 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 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, New GIDC, 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 Components Division : Plot no. 128-133, 3rd Cross Street, Nehru Nagar, Kottivakkam, , Tamil Nadu 600 041.

Malaysian Branch : Suite 628, 6th Floor, Pan Global Plaza, Jalan Wong Ah Fook 80000, Bahru, Malaysia.

2 Annual Report 2016-2017

NOTICE

NOTICE is hereby given that the One Hundred and Fifty-second Annual General Meeting of the members of The Bombay Burmah Trading Corporation, Limited will be held on Thursday, the 3rd day of August, 2017 at 4.00 pm at Y B Chavan Auditorium, Gen. Jagannath Bhosle Marg, Mumbai 400 021, to transact the following business: ORDINARY BUSINESS: 1. To receive, consider and adopt : (a) the audited Financial Statements of the Corporation for the Financial Year ended 31st March, 2017 together with the Reports of the Board of Directors and Auditors thereon; and (b) the audited Consolidated Financial Statements of the Corporation for the Financial Year ended 31st March, 2017 together with the Report of the Auditors thereon. 2. To declare a dividend. 3. To appoint a Director in place of Mr. [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¿WWRFRQYH\DVVHQWRUGLVVHQWWRWKHIROORZLQJ2UGLQDU\5HVROXWLRQ “RESOLVED THAT pursuant to the provisions of Sections 139, 142 and other applicable provisions of the Companies Act,2013 (“the Act”) read with the Companies (Audit and $XGLWRUV  5XOHV  LQFOXGLQJ DQ\ VWDWXWRU\ PRGL¿FDWLRQ V  RU UHHQDFWPHQW WKHUHRI IRU the time being in force) the appointment of Messrs B S R & Co.LLP, Chartered Accountants >5HJLVWUDWLRQ1R::@DV6WDWXWRU\$XGLWRUVRIWKH&RUSRUDWLRQWRKROGRI¿FH from the conclusion of this Annual General Meeting until the conclusion of the next Annual *HQHUDO0HHWLQJWREHKHOGLQWKH¿QDQFLDO\HDUEHDQGLVKHUHE\UDWL¿HGDQGWKH%RDUG of Directors is hereby authorized to determine their remuneration as recommended by the Audit Committee”  7RFRQVLGHUDQGLIWKRXJKW¿WWRFRQYH\DVVHQWRUGLVVHQWWRWKHIROORZLQJ2UGLQDU\5HVROXWLRQ “RESOLVED THAT the Board of Directors( hereinafter referred to as “the Board”)be and is KHUHE\DXWKRULVHGWRDSSRLQWIRUWKHFXUUHQW¿QDQFLDO\HDULQFRQVXOWDWLRQZLWKWKH&RUSRUDWLRQ¶V Auditors namely Messrs B S R & Co. LLP , in respect of the audit of the accounts of the &RUSRUDWLRQ¶VEUDQFKRI¿FHVRXWVLGH,QGLDDSHUVRQZKRLVHLWKHUTXDOL¿HGIRUDSSRLQWPHQW as auditor of the Corporation under Section 141 of the Companies Act, 2013 or an accountant GXO\TXDOL¿HGWRDFWDVDQDXGLWRURIWKHDFFRXQWVRIVXFKEUDQFKRI¿FHVLQDFFRUGDQFHZLWK the applicable laws of the concerned countries; and to determine the remuneration and other terms and conditions of their appointment as Branch Auditors as recommended by the Audit Committee.” SPECIAL BUSINESS :  7RFRQVLGHUDQGLIWKRXJKW¿WWRFRQYH\DVVHQWRUGLVVHQWWRWKHIROORZLQJ2UGLQDU\5HVROXWLRQ “RESOLVED THAT pursuant to the provisions of section 148 and other applicable provisions of the Companies Act,2013 ( “the Act”) read with the Companies (Audit and Auditors) Rules,2014 LQFOXGLQJDQ\VWDWXWRU\PRGL¿FDWLRQ V RUUHHQDFWPHQWWKHUHRIIRUWKHWLPHEHLQJLQIRUFH  M/s. GLS & Associates, Cost & Management Accountants, Coimbatore , [ICWA Registration No M 4482], the Cost Auditors appointed by the Board to conduct the audit of the cost records RIWKH3ODQWDWLRQVDQG$XWR(OHFWULF&RPSRQHQWV'LYLVLRQVRIWKH&RUSRUDWLRQIRUWKH¿QDQFLDO year ending 31st March, 2018, be paid remuneration of ` 200,000/- ( Rupees Two lakhs only) plus such taxes as applicable and reimbursement of actual out-of-pocket expenses.

3 The Bombay Burmah Trading Corporation, Limited

“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 give effect to this Resolution.”  7RFRQVLGHUDQGLIWKRXJKW¿WWRFRQYH\DVVHQWRUGLVVHQWWRWKHIROORZLQJ2UGLQDU\5HVROXWLRQ “RESOLVED THAT pursuant to Sections 149, 152 and other applicable provisions of the &RPSDQLHV $FW  ³WKH $FW´  UHDG ZLWK WKH &RPSDQLHV $SSRLQWPHQW DQG 4XDOL¿FDWLRQ RI'LUHFWRUV 5XOHV LQFOXGLQJDQ\VWDWXWRU\PRGL¿FDWLRQ V RUUHHQDFWPHQWWKHUHRIIRU the time being in force) and Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Dr. (Mrs.) Minnie Bodhanwala (DIN: 00422067), who was appointed as an Additional Director of the Corporation by the Board of Directors (“the Board”) with effect from 30th0DUFKSXUVXDQWWR6HFWLRQRIWKH$FWDQGZKRKROGVRI¿FHXSWR the date of this Annual General Meeting and who is eligible for appointment as Director and in respect of whom the Corporation has received a notice in writing from a member proposing KHU FDQGLGDWXUH IRU WKH RI¿FH RI 'LUHFWRUEH DQG LV KHUHE\ DSSRLQWHG DV D 'LUHFWRU RI WKH Corporation, liable to retire by rotation.”  7RFRQVLGHUDQGLIWKRXJKW¿WWRFRQYH\DVVHQWRUGLVVHQWWRWKHIROORZLQJ2UGLQDU\5HVROXWLRQ “RESOLVED THAT pursuant to Sections 149, 152 and other applicable provisions of the &RPSDQLHV $FW  ³WKH $FW´  UHDG ZLWK WKH &RPSDQLHV $SSRLQWPHQW DQG 4XDOL¿FDWLRQ RI'LUHFWRUV 5XOHV LQFOXGLQJDQ\VWDWXWRU\PRGL¿FDWLRQ V RUUHHQDFWPHQWWKHUHRIIRU the time being in force) and Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Rules made thereunder read with Schedule IV of the Act, Mr. Rajesh Batra (DIN: 00020764) who was appointed as an Additional Director of the Corporation by the Board with effect from 30th March, 2017, pursuant to Section 161 of the Act DQGKROGVRI¿FHXSWRWKHGDWHRIWKLV$QQXDO*HQHUDO0HHWLQJDQGLVHOLJLEOHIRUDSSRLQWPHQW as a Director and in respect of whom the Corporation has received a notice in writing from a PHPEHUSURSRVLQJKLVFDQGLGDWXUHIRUWKHRI¿FHRI'LUHFWRUEHDQGLVKHUHE\DSSRLQWHGDVD Director of the Corporation , he not being liable to retire by rotation. “RESOLVED FURTHER THAT Mr. Rajesh Batra, be and is hereby appointed as an Independent 'LUHFWRURIWKH&RUSRUDWLRQLQWHUPVRIVHFWLRQRIWKH$FWIRUDWHUPRI¿YHFRQVHFXWLYH years from the date of this Annual General Meeting upto 2nd August, 2022, he not being liable to retire by rotation.” By Order of the Board,

N. H. DATANWALA Vice President Corporate & Company Secretary 5HJLVWHUHG2I¿FH 9, Wallace Street, Fort, Mumbai 400 001

Date: 30th May,2017.

4 Annual Report 2016-2017

NOTES: 1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT ONE OR MORE PROXIES TO ATTEND AND VOTE INSTEAD OF HIMSELF/HERSELF. SUCH A PROXY/ PROXIES NEED NOT BE A MEMBER OF THE CORPORATION. However, a person may DFWDVSUR[\RQEHKDOIRIPHPEHUVQRWH[FHHGLQJ¿IW\  DQGKROGLQJLQWKHDJJUHJDWHQRW 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. A Statement of Material Facts 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 are attached hereto as Annexure II. 4. The Register of Members and the Share Transfer Books of the Corporation will be closed from Saturday, 22nd July, 2017 to Thursday, 3rd August, 2017 (both days inclusive). 5. Dividend, if declared at the Annual General Meeting, shall be paid to the members on or after Thursday, 10th August, 2017 to those members whose names appear on the Register of Members of the Corporation on 21st July, 2017, after giving effect to all valid share transfers ORGJHGZLWKWKH&RUSRUDWLRQ¶V5HJLVWUDU 6KDUH7UDQVIHU$JHQWV0V.DUY\&RPSXWHUVKDUH Pvt. Ltd. on or before 21st July, 2017 in respect of shares held in physical form. In respect of VKDUHVKHOGLQHOHFWURQLFIRUPGLYLGHQGZLOOEHSDLGWRWKHEHQH¿FLDORZQHUVRIVKDUHVDVDWWKH closing hours of 21st July, 2017 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 Participants (DPs) in respect of their demat accounts, and in respect of their physical VKDUHKROGLQJVTXRWLQJWKHLUIROLRQXPEHUVWRWKH&RUSRUDWLRQ¶V5HJLVWUDU 6KDUH7UDQVIHU Agents : M/s. Karvy Computershare Pvt. Ltd (Unit : Bombay Burmah) Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad, Telangana – 500 032, India Telephone number: +91 40 6716 2222 Fax number: +91 40 2342 0814 E-mail: [email protected] OR M/s. Karvy Computershare Pvt. Ltd. B- 24, Rajabahadur Mansion, 6, Ambalal Doshi Marg (Behind Bombay Stock Exchange), Fort, Mumbai 400 001 Telephone Number : 66235412/27

5 The Bombay Burmah Trading Corporation, Limited

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 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 Section 124 of the Companies Act, 2013 read with the rules made WKHUHXQGHU 6HFWLRQ$RIWKH&RPSDQLHV$FW LQFOXGLQJDQ\VWDWXWRU\PRGL¿FDWLRQ V  RU UHHQDFWPHQW WKHUHRI IRU WKH WLPH EHLQJ LQ IRUFH GLYLGHQG IRU WKH ¿QDQFLDO \HDU HQGHG 31st March, 2010 and onwards, which remains unpaid or unclaimed for a period of seven (7) years from the date of its transfer to the unpaid dividend account of the Corporation would be transferred to Investor Education and Protection Fund (IEPF) on the dates given in the table below:

Financial Year Date of Declaration of Due date for transfer to IEPF Dividend 2009-2010 10.08.2010 17.09.2017 2010-2011 5.08.2011 09.09.2018 2011-2012 8.08.2012 16.09.2019 2012-2013 7.08.2013 13.09.2020 2013-2014 13.08.2014 19.09.2021 2014-2015 5.08.2015 09.09.2022 2015-2016 5.08.2016 09.09.2023 Members who have so far not encashed the Dividend Warrants for the above years are advised to submit their claim at the earliest to the Registrars at either of the aforesaid addresses immediately quoting their folio number/ DP ID & Client ID. 9. Further, in terms of the provisions of Section 124(6) of the Companies Act, 2013 (“Act”) read with Investor Education and Protection Fund (IEPF) Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (“as amended from time to time”) (“the Rules”) the Corporation is required to transfer all shares in respect of which dividend has not been paid or claimed for a period of seven consecutive years to the Demat Account of the IEPF Authority to be opened by the IEPF Authority in the manner as may be prescribed under the Rule. In Compliance with the said Rules, the Corporation has communicated individually to the concerned shareholders whose shares are liable to be transferred/credited to the Demat Account of the IEPF Authority. The Corporation has uploaded on its website of the Corporation www.bbtcl.com under Investor Relations the details of such shareholders whose shares are to be transferred/credited to the Demat Account of the IEPF Authority. The shareholders may please note that the Corporation shall transfer the concerned shares held by them in physical or Demat form to the Demat Account of the IEPF Authority by the due date WREHQRWL¿HGDVSHUWKHSURFHGXUHSUHVFULEHGXQGHUWKH5XOH7KHFRQFHUQHGVKDUHKROGHUV holding shares in physical shares and whose shares are liable to be transferred may note that WKH&RUSRUDWLRQZRXOGEHLVVXLQJGXSOLFDWHVKDUHFHUWL¿FDWHV V LQOLHXRIWKHRULJLQDOVKDUH FHUWL¿FDWH V KHOGE\WKHPIRUWKHSXUSRVHRIWUDQVIHURIVKDUHVWRWKH'HPDW$FFRXQWRIWKH ,(3)$XWKRULW\DVSHUWKH5XOHVDQGXSRQVXFKLVVXHWKHRULJLQDOVKDUHFHUWL¿FDWHZKLFKVWDQGV registered in their name will stand automatically cancelled and be deemed non-negotiable. The

6 Annual Report 2016-2017

shareholders may further note that the details uploaded by the Corporation on its website as well as insertion of this information in the AGM Notice should be regarded and shall be deemed DGHTXDWHQRWLFHLQUHVSHFWRILVVXHRIWKHGXSOLFDWHVKDUHFHUWL¿FDWH V E\WKH&RUSRUDWLRQIRU the purpose of transfer of shares to the Demat Account pursuant to the Rules. Shareholders may note that both the unclaimed dividend amount transferred to IEPF and the VKDUHVWUDQVIHUUHGWRWKH'HPDW$FFRXQWRIWKH,(3)$XWKRULW\LQFOXGLQJDOOEHQH¿WVDFFUXLQJ on such shares, if any, can be claimed back by them from the IEPF Authority after following the procedure prescribed in the Rules. 10. 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 shall vest in the event of their death. The prescribed form may be obtained from WKH &RUSRUDWLRQ¶V 5HJLVWHUHG 2I¿FH DW  :DOODFH 6WUHHW )RUW 0XPEDL  RU IURP WKH Registrars. 10. As part of the Green Initiative in Corporate Governance, the Ministry of Corporate Affairs (“MCA”), Government of India, through its Circular Nos. 17/2011 and 18/2011, dated April DQG$SULOUHVSHFWLYHO\KDVDOORZHGFRPSDQLHVWRVHQGRI¿FLDOGRFXPHQWV through electronic mode.  ,Q WKH VSLULW RI WKH DERYH FLUFXODUV DQG DV SDUW RI WKH &RUSRUDWLRQ¶V *UHHQ ,QLWLDWLYH WKH Corporation has been sending Annual Reports in the past few years to the e-mail address provided by some of the members.  :HWKHUHIRUHDSSHDOWRDOOPHPEHUVWREHDSDUWRIWKHVDLGµ*UHHQ,QLWLDWLYH¶DQGUHTXHVWDOO members to provide/ update their email addresses giving their Registered Folio Number and/ or DP ID/Client ID at e-mail id [email protected]. 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 Karvy 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 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 SURYLGHWKHIDFLOLW\WRH[HUFLVHPHPEHUV¶ULJKWWRYRWHDWWKHnd Annual General Meeting (AGM) by electronic means and the business may be transacted through e-Voting Services provided by Central Depository Services (India) Limited (CDSL). The instructions for shareholders voting electronically are as under: (i) The voting period begins on 31st July, 2017 at 9.00 am and ends on 2nd August,2017 at 5.00 pm. During this period shareholders of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date 28th July, 2017 may cast their vote electronically. The e-voting module shall be disabled by CDSL for voting thereafter.

7 The Bombay Burmah Trading Corporation, Limited

(ii) The shareholders should log on to the e-voting website www.evotingindia.com. (iii) Click on “Shareholders” tab. (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 Company.  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 Company/Depository Participant are requested to use WKH ¿UVW WZR OHWWHUV RI WKHLU QDPH DQG WKH  GLJLWV RI WKH VHTXHQFHQXPEHULQWKH3$1¿HOG ‡ ,QFDVHWKHVHTXHQFHQXPEHULVOHVVWKDQGLJLWVHQWHUWKH DSSOLFDEOHQXPEHURI¶VEHIRUHWKHQXPEHUDIWHUWKH¿UVW two characters of the name in CAPITAL letters. Eg. If your name is Ramesh Kumar with sequence number 1 then enter 5$LQWKH3$1¿HOG Dividend Bank Details Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy OR Date of Birth format) as recorded in your demat account or in the company (DOB) records in order to login. ‡ ,IERWKWKHGHWDLOVDUHQRWUHFRUGHGZLWKWKHGHSRVLWRU\RU company please enter the member id / folio number in the 'LYLGHQG%DQNGHWDLOV¿HOGDVPHQWLRQHGLQLQVWUXFWLRQ LY  (viii) After entering these details appropriately, click on “SUBMIT” tab. (ix) Members holding shares in physical form will then directly reach the Company selection screen. However, members holding shares in demat form will now reach ‘Password &UHDWLRQ¶PHQXZKHUHLQWKH\DUHUHTXLUHGWRPDQGDWRULO\HQWHUWKHLUORJLQSDVVZRUGLQWKH QHZSDVVZRUG¿HOG.LQGO\QRWHWKDWWKLVSDVVZRUGLVWREHDOVRXVHGE\WKHGHPDWKROGHUV 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 to keep your password FRQ¿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 BOMBAY BURMAH TRADING CORPORATION, LIMITED. (xii) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option “YES/NO” for voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolution and option NO implies that you dissent to the Resolution. (xiii) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.

8 Annual Report 2016-2017

(xiv) After selecting the resolution you have decided to vote on, click on “SUBMIT”. A FRQ¿UPDWLRQER[ZLOOEHGLVSOD\HG,I\RXZLVKWRFRQ¿UP\RXUYRWHFOLFNRQ³2.´HOVHWR change your vote, click on “CANCEL” and accordingly modify your vote. (xv) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote. (xvi) You can also take a print of the votes cast by clicking on “Click here to print” option on the Voting page. (xvii) If a demat account holder has forgotten the login password then Enter the User ID and the LPDJHYHUL¿FDWLRQFRGHDQGFOLFNRQ)RUJRW3DVVZRUG HQWHUWKHGHWDLOVDVSURPSWHGE\ the system. (xviii)6KDUHKROGHUV FDQ DOVR FDVW WKHLU YRWH XVLQJ &'6/¶VPRELOH DSS P9RWLQJ DYDLODEOH IRU android based mobiles. The m-Voting app can be downloaded from Google Play Store. Please follow the instructions as prompted by the mobile app while voting on your mobile. (xix) Note for Non – Individual Shareholders and Custodians   ‡ 1RQ,QGLYLGXDOVKDUHKROGHUV LHRWKHUWKDQ,QGLYLGXDOV+8)15,HWF DQG&XVWRGLDQ are required to log on to www.evotingindia.com and register themselves as Corporates.   ‡ $VFDQQHGFRS\RIWKH5HJLVWUDWLRQ)RUPEHDULQJWKHVWDPSDQGVLJQRIWKHHQWLW\ should be emailed to [email protected].   ‡ $IWHUUHFHLYLQJWKHORJLQGHWDLOVD&RPSOLDQFH8VHUVKRXOGEHFUHDWHGXVLQJWKHDGPLQ login and password. The Compliance User would be able to link the account(s) for which they wish to vote on.   ‡ 7KH OLVW RI DFFRXQWV OLQNHG LQ WKH ORJLQ VKRXOG EH PDLOHG WR KHOSGHVNHYRWLQJ# cdslindia.com and on approval of the accounts they would be able to cast their vote.   ‡ $VFDQQHGFRS\RIWKH%RDUG5HVROXWLRQDQG3RZHURI$WWRUQH\ 32$ ZKLFKWKH\ have issued in favour of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same. (xx) In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions (“FAQs”) and e-voting manual available at www.evotingindia.com, under help section or write an email to [email protected]. NOTE: Any person, who acquires shares of the Corporation and becomes member of the Corporation after 7th July, 2017 i.e. the date considered for dispatch of the notice, and holding shares as on the cut - off date i.e. 21st July, 2017 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 Karvy Computershare Pvt Ltd.. 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 the 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 STATEMENT OF MATERIAL FACTS 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 has approved the appointment of M/s. GLS & Associates , Cost & Management Accountants, Coimbatore, (ICWA Registration No. 4482 ) as Cost Auditors at a remuneration of ` 2,00,000/- (Rupees Two lakhs only) plus such taxes as applicable and reimbursement of actual out of pocket expenses incurred by them for the conduct of audit of the cost records of the Plantation and Auto Electric Components 'LYLVLRQV RI WKH &RUSRUDWLRQ IRU WKH ¿QDQFLDO \HDU HQGLQJ st 0DUFK  $ &HUWL¿FDWH LVVXHG E\WKHDERYH¿UPUHJDUGLQJWKHLUHOLJLELOLW\IRUDSSRLQWPHQWDV&RVW$XGLWRUVZLOOEHDYDLODEOHIRU LQVSHFWLRQDWWKH5HJLVWHUHGRI¿FHRIWKH&RUSRUDWLRQGXULQJ$0WR30RQDOOZRUNLQJ days. The approval of the shareholders is required to be obtained for payment of remuneration to the &RVW$XGLWRUVIRUWKH¿QDQFLDO\HDUHQGLQJst March, 2018. Hence, the resolution at Item no. 6 of the Notice. None of the Directors or Key Managerial Personnel of the Corporation or their relatives is in any ZD\FRQFHUQHGRULQWHUHVWHG¿QDQFLDOO\RURWKHUZLVHLQWKH5HVROXWLRQVHWRXWDW,WHPQRRIWKH Notice. The Board of Directors recommends the said resolution for approval by the shareholders. Item No. 7 Dr. (Mrs.) Minnie Bodhanwala (DIN: 00422067) was appointed as an Additional Director on the Board of the Corporation w.e.f. 30th March, 2017 on the recommendation of the Nomination and 5HPXQHUDWLRQ&RPPLWWHHRIWKH%RDUG$V$GGLWLRQDO'LUHFWRUVKHKROGVRI¿FHRQO\XSWRWKHGDWH of this Annual General Meeting. The Corporation has received a notice in writing from a member along with the deposit of requisite amount under Section 160 of the Act proposing the candidature RI'U%RGKDQZDODIRUWKHRI¿FHRI'LUHFWRURIWKH&RUSRUDWLRQ The attention of the shareholders is invited to Annexure II of the Notice wherein the required details pertaining to Dr. (Mrs.) Minnie Bodhanwala are set out. Dr. Bodhanwala is interested in the resolution at Item No. 7 of the Notice as it relates to her appointment as a Director liable to retire by rotation . None of the other Directors or Key Managerial Personnel of the Corporation or their relatives is, in DQ\ZD\FRQFHUQHGRULQWHUHVWHG¿QDQFLDOO\RURWKHUZLVHLQWKHVDLGUHVROXWLRQ The Board recommends the Ordinary Resolution at Item No. 7 of the Notice for approval by the shareholders Item No. 8 Mr. Rajesh Batra (DIN: 00020764) was appointed as an Additional Director on the Board of the Corporation w.e.f. 30th March, 2017 on the recommendation of the Nomination and Remuneration &RPPLWWHH RI WKH %RDUG $V VXFK KH KROGV RI¿FH RQO\ XSWR WKH GDWH RI WKLV $QQXDO *HQHUDO Meeting. The Corporation has received a notice in writing from a member along with the deposit of UHTXLVLWHDPRXQWXQGHU6HFWLRQRIWKH$FWSURSRVLQJWKHFDQGLGDWXUHRI0U%DWUDIRUWKHRI¿FH of Director of the Corporation. The attention of the shareholders is invited to Annexure II of the Notice wherein the required details pertaining to Mr. Batra are set out. The Board has pursuant to sections 149 and 152 of the Act appointed Mr. Batra as a Director not liable to retire by rotation. He has also been appointed by the Board as an Independent Director, he EHLQJHOLJLEOHWREHVRDSSRLQWHGIRUDWHUPRI¿YHFRQVHFXWLYH\HDUVIURPWKHGDWHRIWKLV$QQXDO

10 Annual Report 2016-2017

General Meeting upto 2nd August, 2022, he not being liable to retire by rotation. Mr. Batra is interested in the resolution at Item No. 8 of the Notice, as it relates to his appointment as a Director and Independent Director not liable to retire by rotation. None of the other Directors or Key Managerial Personnel of the Corporation or their relatives is, in DQ\ZD\FRQFHUQHGRULQWHUHVWHG¿QDQFLDOO\RURWKHUZLVHLQWKHVDLGUHVROXWLRQ The Board recommends the Ordinary Resolution set out at Item No. 8 of the Notice for approval by the shareholders. 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 Wadia, is a well-known Indian industrialist heading the 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 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¶0DQDJHPHQW3ROLF\LQ6HSWHPEHU+HZDVDOVRD0HPEHURIWKH 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. Nusli Wadia has a distinct presence in public affairs and has actively associated with leading charitable and educational institutions. Mr. Wadia holds over eight percent shares in the capital of the Corporation. His other directorships include The & Manufacturing Co. Ltd. (Chairman) , Ltd. (Chairman), Go Airlines (India) Limited (Chairman), Wadia Techno Engineering Services Limited besides directorships in 6 foreign companies and 1 private company. He is also on the Nomination & Remuneration Committee of the Corporation, The Bombay Dyeing & Manufacturing Co. Ltd. , Britannia Industries Ltd and Go Airlines (India) Limited. 2. Dr. (Mrs.) Minnie Bodhanwala (Item no. 7)  'U 0UV 0LQQLH%RGKDQZDODLVSUHVHQWO\ZRUNLQJDV&KLHI([HFXWLYH2I¿FHUDW1RZURVMHH Wadia Maternity Hospital and Bai Jerbai Wadia Hospital for Children, Parel, Mumbai. Under her stewardship, the Wadia Hospitals have won 21 prestigious awards in a span of one year. Dr. Bodhanwala was honoured with more than 40 awards, which include various prestigious awards like the “International Award in Healthcare” by the Thai Chamber of Commerce, ; “Global Award for Sustainable Healthcare Models with Revenue Turnover”, Dubai; “Leading Business Women of the Year” by iiGlobal, Mumbai; Life Time Achievement Award in Healthcare by National Excellence Awards 2015. She is highly-motivated, pro-active passionate individual holding a rich enormous experience of 30 years with exceptional liaison, teamwork, leadership, & organizational abilities to thrive in a fast-paced, results-oriented business environment. With an entrepreneurial spirit to foresee SRWHQWLDOJURZWKZLWKDVWURQJEDFNJURXQGRIFULVLVPDQDJHPHQWLQ+HDOWKFDUHIRU%URZQ¿HOG DQG*UHHQ¿HOGSURMHFWVDQGDOVRD6L[6LJPD*UHHQ%HOW([SHUW  6KH KROGV WKH IROORZLQJ TXDOL¿FDWLRQV %'6 0%$ 0+$ 740 )&5 3*40$+2 ),648$

11 The Bombay Burmah Trading Corporation, Limited

Green Belt – Six Sigma; Principal Assessor, NABH ISO Auditor 9001, 14001, DPE(USA). Dr. %RGKDQZDOD¶V YDVW H[SHULHQFH LQ PDQDJHPHQW DQG DGPLQLVWUDWLRQ ZRXOG EH RI LPPHQVH EHQH¿WWRWKH&RUSRUDWLRQ Outside Directorship: National Peroxide Limited, Axel Polymers Limited, The Bombay Dyeing & Manufacturing Co. Ltd.  &RPPLWWHH 0HPEHUVKLS 6WDNHKROGHUV¶ 5HODWLRQVKLS &RPPLWWHH DQG 1RPLQDWLRQ  Remuneration Committee of the Boards of Axel Polymers Limited. 3. Mr. Rajesh Batra (Item no. 8) Mr. Rajesh Batra, 62, did his schooling in Campion School, Mumbai and graduated from Elphinstone College, in 1975. He then obtained a Diploma in Systems Management from Jamnalal Bajaj Institute in 1978. Son of Mr. Ram Batra, a leading Businessman and Sheriff of Bombay in 1978, Mr. Rajesh Batra, along with his brother Mr. Rajiv Batra, founded PROLINE in 1983. The brand has a national presence and is presently sold through several exclusive outlets, major department stores & malls and several hundred retail outlets. Mr. Batra is also the Chairman of Cravatex Ltd., which through its subsidiary Cravatex Brands /WG KDV WKH OLFHQVH DQG PDUNHWV WKH LQWHUQDWLRQDO VSRUWVZHDU EUDQG µ)LOD¶ DFURVV WKH ,QGLDQ VXEFRQWLQHQWDQGLVDOVRWKHOHDGLQJ¿WQHVVHTXLSPHQWGLVWULEXWRULQ,QGLD Mr. Rajesh Batra is a Director on the Board of several Companies. Besides this, he is a trustee on several charitable trusts and promotes tennis through Ram Batra Memorial Foundation.  0U5DMHVK%DWUD¶VYDVWH[SHULHQFHLQPDQDJHPHQWDQGDGPLQLVWUDWLRQZRXOGEHRILPPHQVH EHQH¿WWRWKH&RUSRUDWLRQ Mr. Rajesh Batra holds 6,250 equity shares of the face value of ` 2/- each in the Corporation and is not related to other Directors or Key Managerial Personnel of the Corporation. Outside Directorship: National Peroxide Limited, Proline India Ltd., B. R. T. Ltd., Cravatex Ltd., Proline Exports Pvt. Ltd., R.B. Fitness & Trading Pvt. Ltd., Cravatex Brands Pvt. Ltd.  &RPPLWWHH 0HPEHUVKLS $XGLW &RPPLWWHH 6WDNHKROGHUV¶ 5HODWLRQVKLS &RPPLWWHH DQG Nomination & Remuneration Committee of the Boards of National Peroxide Limited; 6WDNHKROGHUV¶5HODWLRQVKLS&RPPLWWHHRIWKH%RDUGVRI&UDYDWH[/WG

By Order of the Board

N. H. DATANWALA Vice President Corporate & Company Secretary 5HJLVWHUHG2I¿FH 9, Wallace Street, Fort, Mumbai 400 001

Dated, the 30th May, 2017

12 Annual Report 2016-2017

DIRECTORS’ REPORT

Your Directors hereby present their Annual Report together with Audited Financial Statements for the year ended 31st March, 2017: I. Financial Results: (a) Standalone Financial Results (` in Lakhs)

Particulars 31.03.2017 31.03.2016 Total Revenue 31,853 27,559 3UR¿W%HIRUH7D[ (356) (3,216) 3UR¿W$IWHU7D[ (320) (3,271) Retained Earnings 13,408 14,585 'LYLGHQG LQFOXGLQJWD[WKHUHRQ 840 840

(b) Overview of Performance turnover, but reported marginally lower SUR¿WV +RZHYHU ERWK WKHVH GLYLVLRQV The Corporation achieved a gross continued to perform satisfactorily. income of ` 31,853 lakhs compared to ` 27,559 lakhs for 2015-16. This includes   7KHFXUUHQW¿QDQFLDO\HDUDOVRZLWQHVVHG income of ` 2,470 lakhs on account of the transition from IGAAP to IND AS. SUR¿WRQVDOHRIDVVHWVKDUHV7KHJURVV The Corporation is required to prepare income of ` 29,383 lakhs at operating the Financial Statements as per IND OHYHO H[FOXGLQJ WKH VDLG SUR¿W  ZDV AS. As a result the total comprehensive higher compared to ` 27,559 lakhs for income amounted to ` 6,103 lakhs previous year, representing a growth of as against negative comprehensive 6% over the previous year. income of ` 8,044 lakhs for previous year. The substantial increase in the The overall performance has shown comprehensive income for the year was improvement over the previous year, as primarily due to changes in fair value of WKHORVVIRUWKH\HDUH[FOXGLQJWKHSUR¿W investment of equity shares. RQ VDOH RI DVVHWVVKDUHV DPRXQWHG WR ` 2,826 lakhs compared to ` 3,216 lakhs The Corporation’s loss for the year for the previous year. Number of steps H[FOXGLQJ WKH RWKHU FRPSUHKHQVLYH were taken to reduce losses by closing income was substantially lower at ` 320 GRZQ XQHFRQRPLFDO %RXJKW /HDI lakhs as compared to the loss of ` 3,271 RSHUDWLRQV IRU WHD DQG %RXJKW %HDQV lakhs for the previous year. operations for Coffee at plantations Division wise performance: division. (i) Tea : Despite lower production of tea and Production of own Tea was 48 FRIIHH DQG ORZHU ERXJKW OHDIEHDQV lakh kgs against 45 lakh kgs of the operations, higher wage costs and previous year. Overall production of unfavourable weather conditions the tea including bought leaf was lower overall losses at plantation division were at 64 lakh kgs compared to 74 lakh brought down substantially compared kgs in the previous year. Average to previous year. selling price per kg of tea was higher Health care and Electromags division at ` 121 per Kg compared to ` 110 registered a marginal increase in per kg in the previous year

13 The Bombay Burmah Trading Corporation, Limited

(ii) Coffee : Investments Limited, and holds 100% Own coffee production for the year Equity share capital of the said Company. was at 667 tons compared to 625 $V D UHVXOW %D\PDQFR ,QYHVWPHQWV tons in the previous year. There Limited has become a step down was no production of coffee from subsidiary of the Corporation. outsourced beans as against 981   7KH &RUSRUDWLRQ DQG %D\PDQFR tons in previous year. The sales Investments Limited acquired turnover for the year at 2467 tons was 4,92,18,338 shares representing substantially higher compared to 975 23.84% of the paid up share capital of tons in the previous year following 7KH %RPED\ '\HLQJ  0DQXIDFWXULQJ the liquidation of high inventories of &RPSDQ\ /LPLWHG %'0&  7KH coffee in the previous year. Average &RUSRUDWLRQ¶V H[LVWLQJ KROGLQJ RI selling prices were marginally lower 2,96,39,375 shares representing 14.35% ` at 1.60 lakhs per ton compared to together with the further acquisition 1.86 lakh per ton in the previous year. of additional Equity shares by the (iii) Electromags Corporation and its subsidiary, now The turnover for the year was constitute 38.18% of the paid up share marginally higher at ` 10,938 lakhs FDSLWDORI%'0&$VDUHVXOW%'0&KDV compared to ` 10,664 lakhs in the become an Associate of the Corporation th previous year. However the results with effect from 20 March, 2017. were marginally impacted due to (d) Consolidated Financial Results higher input cost and pressure on selling prices and effects of The Corporation has prepared demonetization and downward trend Consolidated Financial Statements in the diesel car segment. in accordance with the applicable (iv) HealthCare Accounting Standards as prescribed under the Companies (Accounts) Rules, Dental product business under 2014 of the Companies Act, 2013. The healthcare division performed Consolidated Financial Statements satisfactorily and reported marginally UHÀHFWWKHUHVXOWVRIWKH&RUSRUDWLRQDQG ` higher turnover of 2,541 lakhs those of its subsidiaries and associates. ` compared to 2,396 lakh in the As required under Regulation 33 of previous year. the Listing Conditions, the Audited (c) Subsidiaries and Associate Companies Consolidated Financial Financial Performance Statements together with the A report on the performance and Independent Auditors’ Report thereon ¿QDQFLDO SRVLWLRQ RI HDFK RI WKH DUHDQQH[HGDQGIRUPSDUWRIWKLV$QQXDO Subsidiaries and Associates included in Report. the Consolidated Financial Statements   %'0&DQ$VVRFLDWHRIWKH&RUSRUDWLRQ is provided in Form AOC-1 and forms with effect from 20th March, 2017, part of this Annual Report. VRXJKW H[WHQVLRQ RI WLPH XQWLO -XO\ The Corporation has only one material 2017 for presenting its annual accounts OLVWHG ,QGLDQ VXEVLGLDU\ YL] %ULWDQQLD for the year ended 31st March, 2017 Industries Limited. so as to give effect to the merger of   6LJQL¿FDQW 'HYHORSPHQWV GXULQJ WKH its wholly owned subsidiary, Archway year Investment Company Limited with st Acquisition: effect from 1 April, 2016. The merger SHWLWLRQLVSHQGLQJWKH¿QDORUGHURIWKH The Corporation’s wholly owned Hon’ble National Company Law Tribunal VXEVLGLDU\ /HLOD /DQGV 6GQ %KG (‘NCLT’). In view of the above and the Malaysia, set up in Mauritius an UHVXOWDQWQRQDYDLODELOLW\RIWKH¿QDQFLDO ,QYHVWPHQW &RPSDQ\ YL] %D\PDQFR VWDWHPHQWVRI%'0&IRUWKH\HDUHQGHG

14 Annual Report 2016-2017

31st March, 2017, the consolidated III. DIRECTORS results of the Corporation have been prepared without giving effect to the (a) Appointment/Re-appointment adjustments on application of the equity During the year under review, Dr.(Mrs.) method under IND AS 28. The impact 6KHHOD%KLGHUHVLJQHGDVDQ,QGHSHQGHQW of such non-adjustment is currently Director of the Corporation with effect not ascertainable. The Independent from 31st 'HFHPEHU  7KH %RDUG Auditors’ Report on the consolidated places on record its appreciation of the DFFRXQWVKDVEHHQTXDOL¿HGWRWKLVHIIHFW services rendered by her during her ZKLFKLVVHOIH[SODQDWRU\ tenure as a Director of the Corporation. Consolidated sale of products and   'U 0UV  0LQQLH %RGKDQZDOD DQG services of the Corporation for the year 0U 5DMHVK %DWUD ZHUH DSSRLQWHG DV st ` ended 31 March, 2017 was 971,288 Additional Directors respectively with ` lakhs as compared with 899,820 lakhs effect from 30th March, 2017. Additional in 2015-2016, registering a growth of 'LUHFWRUV KROG RI¿FH RQO\ XSWR WKH &RQVROLGDWHG1HW3UR¿WIRUWKH\HDU ensuing Annual General Meeting, but st ended 31 March 2017 was higher by are eligibile for and seek reappointment ` 8% at 85,846 lakhs compared with as in the case of Dr. (Mrs.) Minnie ` 79,198 lakhs in the previous year. %RGKDQZDOD DV D 'LUHFWRU OLDEOH WR In accordance with Section 136 of retire by rotation, whereas in the case the Companies Act, 2013, the audited RI 0U 5DMHVK %DWUD¶V DSSRLQWPHQW DV ¿QDQFLDO VWDWHPHQWV RI WKH &RUSRUDWLRQ an Independent Director for the period LQFOXGLQJ WKH FRQVROLGDWHG ¿QDQFLDO of 5 years from 3rd August, 2017 not statements, and the audited accounts being liable to retire by rotation. The of each subsidiary, are available on the Corporation has received notices in &RUSRUDWLRQ¶VZHEVLWH KWWSEEWFOFRP writing from a Member proposing their LQYHVWRUUHODWLRQVDQQXDOUHSRUWV FDQGLGDWXUH WR WKH RI¿FH RI 'LUHFWRU RI the Corporation. Their appointment (e) Dividend as Directors of the Corporation is Your Directors have recommended subject to approval of shareholders at payment of dividend @ 50% i.e. ` 1 the ensuing Annual General Meeting. per share of `  HDFK 3UHYLRXV \HDU 7KH %RDUG UHFRPPHQGV 'U 0UV  ` 1 per share). The dividend, if approved 0LQQLH %RGKDQZDOD¶V DSSRLQWPHQW DV by the shareholders at the Annual a Director of the Corporation, liable to General Meeting, will be paid to those UHWLUHE\URWDWLRQDQG0U5DMHVK%DWUD¶V shareholders whose names appear appointment as an Independent Director on the Register of Members of the for a term of 5 years from 3rd August, Corporation at the close of business on 2017, and he not being liable to retire by 22nd July, 2017. rotation. II. CONSERVATION OF ENERGY, In accordance with the applicable TECHNOLOGY ABSORPTION AND provisions of the Companies Act, 2013 FOREIGN EXCHANGE EARNINGS AND (‘the Act’) and the Articles of Association OUTGO of the Corporation, Mr. Nusli Wadia, Information pertaining to conservation retires by rotation at the ensuing Annual of energy , technology absorption and General Meeting and being eligible, IRUHLJQ H[FKDQJH HDUQLQJV DQG RXWJR LQ offers himself for re-appointment. accordance with the provisions of clause Your Directors recommend the re- (m) of sub-section (3) of Section 134 of the appointment of Mr. Nusli Wadia as Companies Act, 2013, read with Rule 8(3) of Director of the Corporation. The Companies (Accounts) Rules, 2014 is Necessary resolutions for the appended as Annexure A to this Report. appointment of Dr.(Mrs.) Minnie %RGKDQZDOD DQG 0U 5DMHVK %DWUD DQG

15 The Bombay Burmah Trading Corporation, Limited

the re-appointment of Mr. Nusli Wadia by the Corporation, reports of have been included in the Notice the internal, statutory, cost and convening the ensuing Annual General secretarial auditors duly reviewed Meeting and requisite details have been E\ WKH PDQDJHPHQW DQG WKH %RDUG provided in the Statement of Material including the Audit Committee, facts under section 102 of the Act and WKH %RDUG LV RI WKH RSLQLRQ WKDW DQQH[HGWRWKH1RWLFH WKH &RUSRUDWLRQ¶V LQWHUQDO ¿QDQFLDO controls were adequate and (b) Directors’ Responsibility Statement operating effectively during the Pursuant to Section 134(5) of the ¿QDQFLDO\HDU Companies Act, 2013 (“the Act”), the IV. CORPORATE SOCIAL RESPONSIBILITY Directors to the best of their knowledge (CSR) DQGDELOLW\FRQ¿UPWKDW (i) in the preparation of the annual  7KH %RDUG RI 'LUHFWRUV FRQVWLWXWHG WKH accounts, the applicable accounting Corporate Social Responsibility (CSR) standards have been followed along Committee in accordance with Section 135 of the Companies Act, 2013 comprising of ZLWK SURSHU H[SODQDWLRQ UHODWLQJ WR material departures; three Directors including two Independent Directors. The CSR Policy of the Corporation (ii) they have selected such accounting and initiatives taken by the Corporation with policies and applied them respect to Corporate Social Responsibility consistently and made judgments during the year under review are in and estimates that are reasonable accordance with the Companies (Corporate and prudent so as to give a true Social Responsibility Policy) Rules, 2014. and fair view of the state of affairs The requisite details are appended to this of the Corporation at the end of the Report as Annexure B. ¿QDQFLDO\HDUDQGRIWKHSUR¿WRIWKH Corporation for that period ; V. EMPLOYEES (iii) they have taken proper and (a) Key Managerial Personnel VXI¿FLHQW FDUH IRU WKH PDLQWHQDQFH Pursuant to Section 203 of the Act, the of adequate accounting records in Key Managerial Personnel (KMP) of accordance with the provisions of the Corporation are Mr. , the Act for safeguarding the assets of Managing Director, Mr. Amit Chhabra, the Corporation and for preventing &KLHI )LQDQFLDO 2I¿FHU DQG 0U 1 + and detecting fraud and other 'DWDQZDOD 9LFH 3UHVLGHQW &RUSRUDWH  irregularities; Company Secretary. There has been no (iv) they have prepared the annual change in KMPs during the year. accounts on a going concern basis; (b) Particulars of Employees   Y WKH\KDYHODLGGRZQLQWHUQDO¿QDQFLDO The information as per Section 197(12) of controls to be followed by the the Companies Act, 2013 read with Rule Corporation and that such internal 5(1) of the Companies (Appointment and ¿QDQFLDO FRQWUROV DUH DGHTXDWH DQG Remuneration of Managerial Personnel) were operating effectively; and Rules, 2014, is appended to this Report (vi) they have devised proper systems as Annexure C. to ensure compliance with the Having regard to the provisions of the provisions of all applicable laws and that such systems were adequate ¿UVW SURYLVR WR  6HFWLRQ    RI WKH Act, the Annual Report is being sent and operating effectively. to the members and others entitled    %DVHG RQ WKH IUDPHZRUN RI LQWHUQDO WKHUHWR H[FOXGLQJ WKH LQIRUPDWLRQ RQ ¿QDQFLDO FRQWUROV DQG FRPSOLDQFH employees’ particulars as required under systems established and maintained Rule 5(2) of the aforesaid Rules. The said

16 Annual Report 2016-2017

information is available for inspection by (d) Board Evaluation WKHPHPEHUVDWWKH5HJLVWHUHG2I¿FHRI the Corporation during business hours Pursuant to the provisions of the on working days up to the date of the Companies Act, 2013, and Regulation ensuing Annual General Meeting. If 19 of the Listing Regulations,2015, any member is interested in obtaining WKH %RDUG FDUULHG RXW DQ DQQXDO a copy thereof, such member may write performance evaluation of its own to the Company Secretary and the same performance and that of its Committees will be furnished on request. viz. Audit Committee, Stakeholders’ Relationship Committee and Nomination (c) Disclosure on Sexual Harassment of and Remuneration Committee , and of Women at Workplace the individual Directors. The manner in which the evaluation has been carried The Corporation has set up an Internal RXWKDVEHHQH[SODLQHGLQWKH&RUSRUDWH Complaints Committee for providing Governance Report. a redressal mechanism pertaining to VH[XDOKDUDVVPHQWRIZRPHQHPSOR\HHV (e) Nomination and Remuneration Policy at workplace. There was no case of VH[XDO KDUDVVPHQW UHSRUWHG GXULQJ WKH   7KH %RDUG RQ WKH UHFRPPHQGDWLRQ year under review. RI WKH 1RPLQDWLRQ  5HPXQHUDWLRQ Committee, has formulated a Policy VI. MANAGEMENT DISCUSSION & ANALYSIS for the remuneration of Directors and 6HQLRU 0DQDJHPHQW %ULHI GHWDLOV RI In terms of the provisions of Regulation 34 the Policy is provided in the Corporate RI WKH 6(%, /2'5  5HJXODWLRQV WKH Governance Report and also posted on 0DQDJHPHQW'LVFXVVLRQ $QDO\VLVIRUPV WKH ZHEVLWH RI WKH &RUSRUDWLRQ KWWS part of the Annual Report. EEWFOFRPUHPXQHUDWLRQSROLF\ VII. GOVERNANCE / SECRETARIAL (f) Declaration by Independent Directors (a) Corporate Governance Report The Corporation has received necessary In accordance with the provisions declaration from each Independent RI WKH 6(%, /2'5  5HJXODWLRQV Director under Section 149(7) of the 2015, a separate report on Corporate &RPSDQLHV $FW   WKDW KH VKH Governance along with the Auditors’ meets the criteria of independence laid &HUWL¿FDWH RQ FRPSOLDQFH RI WKH down in Section 149 (6) of the Act and conditions of Corporate Governance is the Listing Regulations. Annexure D appended to this Report as . (g) Board Meetings: (b) Business Responsibility Report   'XULQJ WKH \HDU VL[  %RDUG 0HHWLQJV   3XUVXDQW WR 5HJXODWLRQ   I  RI 6(%, were duly convened and held. The /2'5 5HJXODWLRQVWKH%XVLQHVV GHWDLOV RI %RDUG DQG LWV &RPPLWWHHV Responsibility Report of the Corporation PHHWLQJV DUH JLYHQ LQ &ODXVH 1R   for the Financial Year 2016-17 forms part 3 of the Corporate Governance Report of this Annual Report. that forms part of this Annual Report. The intervening gap between any (c) Extract of Annual Return two meetings was within the period   7KH GHWDLOV IRUPLQJ SDUW RI WKH H[WUDFW described under the Companies Act, of the Annual Return in Form MGT 9 2013. pursuant to the provisions of section (h) Whistle Blower Policy 92 of the Act read with Rule 12 of the Companies (Management and   7KH GHWDLOV RI :KLVWOH %ORZHU 3ROLF\ Administration) Rules, 2014 is appended are given in the Clause No. 3(a) of the to this Report as Annexure E. Corporate Governance Report.

17 The Bombay Burmah Trading Corporation, Limited

(i) Related Party Transactions (l) Particulars of Loans, Guarantees and Investments The Corporation has formulated a Policy on Related Party Transactions which is The details of Loans, Guarantees GLVFORVHG RQ LWV ZHEVLWH KWWSEEWFO and Investments covered under FRPUHODWHGSDUW\WUDQVDFWLRQSROLF\ the provisions of Section 186 of the Companies Act, 2013 are given in Note All transactions entered into with related no. 48 forming part of the Standalone SDUWLHVDVGH¿QHGXQGHUWKH&RPSDQLHV Financial Statements for the year 2016- Act, 2013 and Regulations 2(1)(zc) and 2017. RIWKH6(%, /2'5 5HJXODWLRQV during the year under review, were in P 6LJQL¿FDQW 0DWHULDO2UGHUV3DVVHG%\ the ordinary course of business and on The Regulators an arms’ length basis and did not attract the provisions of Section 188 of the   7KHUH DUH QR VLJQL¿FDQW DQG PDWHULDO Companies Act, 2013. With regard to orders passed by the Regulators or transactions with Related parties under Courts or Tribunals impacting the going the provisions of Regulation 23 of the concern status and the Corporation’s Listing Regulations, 2015, prior approval operations in future. of the Audit Committee was obtained VIII. AUDITORS wherever required. (a) Statutory Auditors During the year under review, the Corporation had not entered into any Pursuant to the provisions of Section FRQWUDFW DUUDQJHPHQW WUDQVDFWLRQV 139 of the Companies Act, 2013 (“the with related parties which could be Act”) and the Rules made thereunder, considered as material in nature. 0HVVUV % 6 5  &R //3 0XPEDL Accordingly, there are no material Chartered Accountants, were appointed related party transactions to be reported as Statutory Auditors of the Corporation in Form AOC-2. IRU D SHULRG RI ¿YH \HDUV DW WKH Annual General Meeting held on 13th Disclosures pertaining to transactions $XJXVW VXEMHFW WR UDWL¿FDWLRQ E\ with related parties are given in Note the members at every Annual General no. 50 of the Notes forming part of the 0HHWLQJ 0V % 6 5  &R //3 KDYH Standalone Financial Statements for the submitted a written consent that they year 2016-2017. DUH HOLJLEOH WR KROG RI¿FH DV 6WDWXWRU\ (j) Risk Management Policy Auditors of the Corporation in terms of Section 139 of the Act and that they The Corporation has formulated a also satisfy the criteria provided in Risk Management Policy. Major risks Section 141 of the Act. The Auditors LGHQWL¿HG E\ HDFK RI WKH EXVLQHVVHV KDYH FRQ¿UPHG WKDW WKH\ KROG D YDOLG and functions are systematically &HUWL¿FDWH LVVXHG E\ WKH 3HHU 5HYLHZ addressed through mitigating actions %RDUG RI WKH ,QVWLWXWH RI &KDUWHUHG on a continuing basis and are reported Accountants of India as required under periodically to the Audit Committee 5HJXODWLRQ   G  RI WKH 6(%, /2'5  DQG WKH %RDUG 7KH GHWDLOV RI WKH 5LVN Regulations,2015. Management functions are covered in the Corporate Governance Report. Their appointment will require to be UDWL¿HGE\WKH0HPEHUVDWWKHHQVXLQJ (k) Insurance Annual General Meeting. The Corporation’s plant and machinery, (b) Cost Audit building, stocks and assets are adequately insured. Pursuant to the provisions of Section 148 of the Companies Act, 2013 (“the Act”) read with the relevant 5XOHV WKH %RDUG RI 'LUHFWRUV RQ WKH

18 Annual Report 2016-2017

recommendation of Audit Committee,   7KH $XGLWRUV¶ 4XDOL¿FDWLRQ RQ DSSRLQWHG 0V */6  $VVRFLDWHV */6  consolidated accounts with regard to as Cost Auditors of the Plantations and QRQDYDLODELOLW\ RI ¿QDQFLDO VWDWHPHQWV Auto Electric Components divisions of RI%'0&IRUWKH\HDUHQGHG0DUFK WKH &RUSRUDWLRQ  IRU WKH ¿QDQFLDO \HDU 2017, has been dealt with in para I(d) 2017-18 at a remuneration of ` IX. INTERNAL FINANCIAL CONTROLS (Rupees Two lakhs only) plus such WD[HVDVDSSOLFDEOHDQGUHLPEXUVHPHQW The Corporation maintains adequate and RI DFWXDO RXW RI SRFNHW H[SHQVHV 7KH effective internal control systems which remuneration payable to them is required are commensurate with the nature, size and WREHUDWL¿HGE\WKHVKDUHKROGHUVDWWKH FRPSOH[LW\RILWVEXVLQHVVDQGHQVXUHRUGHUO\ ensuing Annual General Meeting. DQG HI¿FLHQW FRQGXFW RI WKH &RUSRUDWLRQ¶V (c) Secretarial Audit business. The internal control systems in all Divisions of the Corporation including Pursuant to the provisions of Section WKH +HDG RI¿FH DUH URXWLQHO\ WHVWHG DQG 204 of the Companies Act, 2013 read YHUL¿HG E\ LQGHSHQGHQW ,QWHUQDO $XGLWRUV with the Companies (Appointment and DQG VLJQL¿FDQW DXGLW REVHUYDWLRQV  DQG Remuneration of Managerial Personnel) follow-up actions are reported to the Audit Rules, 2014, the Corporation appointed Committee. The Audit Committee reviews Mr. Tushar Shridharani, Practicing the adequacy and effectiveness of the Company Secretary as Secretarial Corporation’s internal control requirement Auditor for the year 2016-2017. The and monitors the implementation of audit Report of the Secretarial Auditor is recommendations. appended as Annexure F. The Corporation has in place adequate (d) Internal Auditors Internal Financial Controls with reference to Pursuant to the provisions of Section Financial Reporting which ensure adherence 138 of the Companies Act, 2013 read to the Corporation’s policies, safeguarding with the Companies (Accounts) Rule, of its assets, maintaining proper accounting 0HVVHUV(UQVW 

19 The Bombay Burmah Trading Corporation, Limited

Annexure A

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS & OUTGO (A) CONSERVATION OF ENERGY: (1) Steps taken on conservation of Energy : At Plantation Division : a) Emphasis and close monitoring of maintenance of optimum Power factor at Tea Factories continued during the year. b) Favourable result have been obtained after installation of MD controller at the factories at Mudis and Singampatti Tea Estates.  F  2SWLPL]LQJUDWLQJRI3XPS0RWRUVDWWKH(VWDWHIRUUHGXFWLRQLQRSHUDWLRQDOSHUVRQQHO At Auto Electric Components: Environment Management Programme was used to reduce consumption of energy. Also taken- XSPRGL¿FDWLRQRI$XWR&ULPSLQJ0DFKLQHUHVXOWLQJLQVDYLQJRIWKHFXUUHQWOHYHO (2) Steps taken for utilizing alternate sources of energy:  7KH&RUSRUDWLRQ¶V%LR0HWKDQLVDWLRQDQG:DVWH:DWHU7UHDWPHQW3ODQWDW&RIIHH(VWDWHQRWRQO\ WUHDW WKH HIÀXHQW ZDWHU EXW DOVR XVHV &RIIHH PXFLODJH IRU SURGXFWLRQ RI %LR*DV ZKLFK KDV enabled reduction in consumption of energy. Windmill in the wind belt of Tamil Nadu meets with DSSUR[RIHQHUJ\UHTXLUHPHQWDW7HD)DFWRULHV (B) TECHNOLOGY ABSORPTION: (i) Efforts made towards Technology Absorption: At Plantation Division: The Corporation has undertaken a programme for development of the all season Mechanised Intelligent Tea Harvester for harvesting tea leaves. The validation of the development so far FDUULHG RXW LV EHLQJ XQGHUWDNHQ ZLWK WKH H[WHUQDO DJHQFLHV DQG WKH IHDVLELOLWLHV LV EHDLQJ looked at. At Auto Electric Components:   7KHQHZSURGXFWGHYHORSPHQWWHDPLVZRUNLQJRQWKHVHJPHQWVOLNH%UHDNV\VWHP$%6DQG Alternater Starter Motors to grow in passenger vehicle segments. It is also looking at non- auto segment for its product with the internal know-how technology.  LL  %HQH¿WVGHULYHGOLNHSURGXFWLPSURYHPHQWFRVWUHGXFWLRQSURGXFWGHYHORSPHQWRULPSRUW substitution:   %HQH¿WVIURPWKHDERYHPHDVXUHVZLOOEHVWXGLHGLQWKHFRPLQJ¿QDQFLDO\HDUV (iii) There was no import of technology during the last three years. (C) FOREIGN EXCHANGE EARNING AND OUTGO:  L  )RUHLJQ([FKDQJHHDUQHGGXULQJWKH\HDULQWHUPVRIDFWXDOLQÀRZV` 39,800 Lakhs.  LL  )RUHLJQ([FKDQJHRXWJRGXULQJWKH\HDULQWHUPVRIDFWXDORXWÀRZV` 1,443 Lakhs.

20 Annual Report 2016-2017

Annexure B

REPORT ON CSR ACTIVITIES – FINANCIAL YEAR 2016-2017

1. A brief outline of the Corporation’s policy, including overview of projects or programs proposed to be undertaken and a reference to the web-link to the policy and projects or programs:  :HEOLQNKWWSEEWFOFRPFRUSRUDWHVRFLDOUHVSRQVLELOLW\ 2. The Composition of the 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` NIL in view of substantial loss.  3UHVFULEHG([SHQGLWXUH WZRSHUFHQWRIWKHDPRXQWDVLQLWHPDERYH ` NIL  'HWDLOVRIVSHQWGXULQJWKH¿QDQFLDO\HDU  D  7RWDODPRXQWWREHVSHQWIRUWKH¿QDQFLDO\HDU` NIL. However, the Corporation continued to pursue its activities by maintenance of public roads through its estates and building for community welfare and schools. (b) Amount unspent, if any : NIL  F  0DQQHULQZKLFKWKHDPRXQWVSHQWGXULQJWKH¿QDQFLDO\HDULVGHWDLOHGEHORZ

(1) (2) (3) (4) (5) (6) (7) (8) S. No CSR Project Sector in Projects or programs Amount outlay Amount spent on Cumulative Amount or activity which the (1) Local area or (budget) the projects or H[SHQGLWXUH spent: LGHQWL¿HG Project is project or programs Sub- upto to the Direct or covered other; programs wise heads: reporting through (2) Specify the `in lakhs (1) Direct period implemen- State and district ` in lakhs ting H[SHQGLWXUH agency where projects on project or ` in lakhs or programs programs; was undertaken (2) Overheads `in lakhs 1. Public Roads Transportation Mudis, Singampatti 6.00 5.82 5.82 Direct through the Infrastructure , and Dunsandle Estates Estates (Tamil Nadu) 2. Maintenance Housing Mudis, Singampatti 5.00 4.22 4.22 Direct of buildings and Dunsandle for community Estates EHQH¿WV (Tamil Nadu) including water supply thereto 3. Maintenance Mudis, Singampatti 4.00 3.70 3.70 Direct of school and Dunsandle buildings Estates (Tamil Nadu) TOTAL 15.00 13.74 13.74 Give details of implementing agency: Direct 7KH&RPPLWWHHFRQ¿UPVWKDWWKHLPSOHPHQWDWLRQDQGPRQLWRULQJRI3ROLF\LVLQFRPSOLDQFHZLWK objectives and Policy of the Corporation.

)RU7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/WG )RUDQGRQEHKDOIRIWKH&RPPLWWHHRI 7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/WG

Nusli N. Wadia A. K. Hirjee Chairman Chairman, Committee Mumbai : 30th May, 2017

21 The Bombay Burmah Trading Corporation, Limited

Annexure C

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.H\0DQDJHULDO3HUVRQQHOGXULQJWKH¿QDQFLDO\HDU

S. Name of Director/ Designation Ratio of remuneration Percentage No. KMP of each Director to increase in median remuneration Remuneration of employees 1. Mr. Ness Wadia Managing 319.03 Nil Director 2. Mr. N. H. Datanwala Vice President Not Applicable Nil Corporate &RPSDQ\ Secretary 3. Mr. Amit Chhabra Chief Financial Not Applicable Nil 2I¿FHU Note :   D  7KH1RQ([HFXWLYH'LUHFWRUVRIWKH&RUSRUDWLRQZHUHSDLGRQO\VLWWLQJIHHVGXULQJWKH year under review, the details of which are provided in the Corporate Governance Report DQGWKH([WUDFWRI$QQXDO5HWXUQ7KHUDWLRRIUHPXQHUDWLRQDQGSHUFHQWDJHLQFUHDVH IRU1RQ([HFXWLYH'LUHFWRUV¶5HPXQHUDWLRQLVWKHUHIRUHQRWFRQVLGHUHGIRUWKHSXUSRVH above.   E  7KHUHZDVQRLQFUHDVHLQWKHUHPXQHUDWLRQRI0DQDJLQJ'LUHFWRULQWKH¿QDQFLDO\HDU 2016-17 as recommended by the Nomination and Remuneration Committee and DSSURYHGE\WKH%RDUGRI'LUHFWRUV c) Employees for the purpose above includes all employees at all divisions of the Corporation.  LL 7KHSHUFHQWDJHLQFUHDVHLQWKHPHGLDQUHPXQHUDWLRQRIHPSOR\HHVIRUWKH¿QDQFLDO\HDU 2016-2017 was 5.5%. iii. There are 5607 permanent employees on the pay roll of the Corporation as on 31st March, 2017. iv. Average percentage increase made in the salaries of employees other than the Managerial Personnel in the Financial Year 2016-17 on comparable basis was 5% over previous year ZKHUHDVWKHUHZDVQRLQFUHDVHLQWKHUHPXQHUDWLRQRI0DQDJLQJ'LUHFWRULQWKH¿QDQFLDO\HDU 2016-17 as recommended by the Nomination and Remuneration Committee and approved E\WKH%RDUGRI'LUHFWRUV v. The remuneration paid during the year 2016-2017 is as per the Remuneration Policy of the Corporation.

22 Annual Report 2016-2017

Annexure D

CORPORATE GOVERNANCE REPORT

1. Corporation’s Philosophy on Corporate Governance: The Corporation believes that good Corporate Governance is a pre-requisite for achieving sustainable corporate growth and enhancing value for all stakeholders in the business. Good corporate governance emerges from transparency in business dealings and having in SODFHUREXVWV\VWHPVDQGSURFHVVHVGH¿QLQJDFFRXQWDELOLW\LQWHJULW\IDLUQHVVDQGHWKLFVLQ EXVLQHVVSUDFWLFHVWKHUHE\IXO¿OOLQJWKHUHVSRQVLELOLWLHVRIFRUSRUDWHFLWL]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$VRQst0DUFKWKH%RDUGFRPSULVHGRIHLJKW (8) Directors out of which four (4) are Independent Directors , one (1) Woman Director and one  ([HFXWLYH'LUHFWRU  'XULQJWKH\HDUXQGHUUHYLHZVL[  %RDUG0HHWLQJVZHUHKHOGWKHGDWHVEHLQJth May 2016; 5th August, 2016;4th October,2016; 8th November, 2016; 10th February, 2017 and 30th March, 2017.  7KHGHWDLOVRIQXPEHURI2WKHU'LUHFWRUVKLSVDQGDWWHQGDQFHDW%RDUG0HHWLQJVDQG$QQXDO General Meetings are as follows:

Name of the Director Category No. of Whether No. of No. of Committee Board attended Directorships positions held Meetings last AGM in other public in other public attended held on companies+ companies# (out of 6) 5.8.2016 Chairman Member Chairman Member Mr. Nusli N. Wadia, 3URPRWHU 6Yes3 1 - - Chairman 1RQ([HFXWLYH Mr. A. K. Hirjee, Independent 5 Yes 2 2 4 2 Vice Chairman Mr. M. L. Apte Independent 6 Yes - 5 - 4 Mr. D. E. Udwadia Independent 5Yes- 7 1 6 Mr. Jeh Wadia 3URPRWHU 6Yes-4 -3 1RQ([HFXWLYH 'U 0UV 6KHHOD%KLGH Independent 4 Yes - - - - XSWR 0U5DMHVK%DWUD Independent - - - 5 - 3 ZHI Dr. (Mrs) Minnie 1RQ([HFXWLYH - - -3 -1 %RGKDQZDOD ZHI Mr. Ness Wadia, 3URPRWHU 5Yes1 5 - 2 Managing Director Managing Director  ([FOXGHVDOWHUQDWHGLUHFWRUVKLSDQGGLUHFWRUVKLSLQIRUHLJQFRPSDQLHVDQGSULYDWHFRPSDQLHV which are neither subsidiaries nor holding companies of public companies.  ([FOXGHV&RPPLWWHHVRWKHUWKDQ$XGLW&RPPLWWHHDQG6WDNHKROGHUV¶5HODWLRQVKLS&RPPLWWHH of Public Limited Companies.  0U5DMHVK%DWUDDQG'U 0UV 0LQQLH%RGKDQZDODZHUHDSSRLQWHGDV$GGLWLRQDO'LUHFWRUVZLWK effect from 30th March, 2017.

23 The Bombay Burmah Trading Corporation, Limited

Note: Mr. Nusli N. Wadia, Mr. Jeh Wadia and Mr. Ness Wadia are relatives as per section 2(77) of WKH&RPSDQLHV$FWUHDGZLWK&RPSDQLHV 6SHFL¿FDWLRQRI'H¿QLWLRQ'HWDLOV 5XOHV Mr. A K Hirjee, Mr. M L Apte and Mr. D E Udwadia were appointed as Independent Directors at the 149th Annual General Meeting of the Corporation held on 13th August,2014 for a period of ¿YH\HDUVXSWRth$XJXVW'U 0UV 6KHHOD%KLGHUHVLJQHGDV'LUHFWRURIWKH&RUSRUDWLRQ with effect from 31st December, 2016. 3. Committees of the Board:  7KH %RDUG KDV IRXU &RPPLWWHHV WKH $XGLW &RPPLWWHH WKH 1RPLQDWLRQ DQG 5HPXQHUDWLRQ Committee, the Stakeholders’ Relationship Committee and the Corporate Social Responsibility (CSR) Committee. (a) Audit Committee: The composition, powers, role and terms of reference of the Audit Committee are in accordance with the requirements of section 177 of the Companies Act,2013 and the Rules PDGH WKHUHXQGHU UHDG ZLWK 5HJXODWLRQ  DQG 3DUW & RI 6FKHGXOH ,, RI WKH 6(%, /2'5  Regulations,2015. The Audit Committee comprises of 3 Independent Directors:   ‡ 0U0/$SWH &KDLUPDQ   ‡ 0U'(8GZDGLD   ‡ 0U$.+LUMHH   ‡ 'U 0UV 6KHHOD%KLGH UHVLJQHGRQ   0U 1HVV :DGLD 0DQDJLQJ 'LUHFWRU 0U $PLW &KKDEUD &KLHI )LQDQFLDO 2I¿FHU 6WDWXWRU\ Auditors and Internal Auditors attend Audit Committee meetings as Invitees. Mr. N H Datanwala, Vice President Corporate and Company Secretary, acts as the Secretary to the Committee.   7KHUROHRIWKH$XGLW&RPPLWWHHÀRZVGLUHFWO\IURPWKH%RDUGRI'LUHFWRUV¶RYHUYLHZIXQFWLRQ RQFRUSRUDWHJRYHUQDQFHZKLFKKROGVWKHPDQDJHPHQWDFFRXQWDEOHWRWKH%RDUGDQGWKH %RDUG DFFRXQWDEOH WR WKH VWDNHKROGHUV 7KH WHUPV RI UHIHUHQFH RI WKH $XGLW &RPPLWWHH 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.   'XULQJ WKH \HDU XQGHU UHYLHZ ¿YH   0HHWLQJV RI WKH $XGLW &RPPLWWHH ZHUH KHOG WKH dates being 26th May, 2016; 3rd August, 2016; 8th November, 2016; 20th January,2017 and 6th February, 2017. Details of attendance of each member at the Audit Committee Meetings are as follows:

Name No. of Audit Committee Meetings attended Mr. M. L. Apte 5 Mr. D E. Udwadia 5 Mr. A. K. Hirjee 4 'U 0UV 6KHHOD%KLGH XSWR 1

24 Annual Report 2016-2017

Internal Audit and Control:   0V(UQVW 

25 The Bombay Burmah Trading Corporation, Limited

  ‡ WRUHFRPPHQGWRWKH%RDUGRQ5HPXQHUDWLRQSD\DEOHWRWKH'LUHFWRUV.H\0DQDJHULDO Personnel and Senior Management;   ‡ WRSURYLGHWR.H\0DQDJHULDO3HUVRQQHODQG6HQLRU0DQDJHPHQWUHZDUGOLQNHGGLUHFWO\ to their effort, performance, dedication and achievement relating to the Corporation’s operations; and   ‡ WRUHWDLQPRWLYDWHDQGSURPRWHWDOHQWDQGWRHQVXUHORQJWHUPVXVWDLQDELOLW\RI talented managerial persons and create competitive advantage.  L  5HPXQHUDWLRQWR([HFXWLYH'LUHFWRUV The remuneration structure of Managing Director comprises of basic salary, special DOORZDQFHSHUTXLVLWHVDQGUHWLUDOEHQH¿WVDQGSHUIRUPDQFHERQXVDVPD\EHGHFLGHGE\WKH NRC, subject to the overall limits of remuneration governed by the respective shareholders’ approval. Details of remuneration paid to Managing Director during the year 2016-17 are given below: (In rupees) Salary (including Contribution to Perquisites in cash allowances and Provident & other Funds or kind bonus) excluding Gratuity Mr. Ness Wadia 28,998,400 5,089,392 724,000 The Corporation has not granted any stock options to its whole-time director during the year. Mr. Ness Wadia holds 5,000 Shares in the Corporation. Although there has been no increase in the remuneration paid to Mr. Ness Wadia in the )<LQYLHZRILQDGHTXDF\RISUR¿WVWKH&RUSRUDWLRQKDVDSSOLHGWRWKH&HQWUDO Government for approval to the payment of the same remuneration to Mr. Ness Wadia as it LVLQH[FHVVRIWKHOLPLWVSUHVFULEHGE\6FKHGXOH9RIWKH&RPSDQLHV$FW The application has been made as Mr. Ness Wadia holds direct and indirect interest in the FDSLWDO RI WKH &RUSRUDWLRQ DOWKRXJK WKH FRQGLWLRQ RI KROGLQJ SURIHVVLRQDO TXDOL¿FDWLRQ LV VDWLV¿HGXQGHUWKHDIRUHVDLG&LUFXODU  LL  5HPXQHUDWLRQWR1RQ([HFXWLYH'LUHFWRUV   7KH1RQ([HFXWLYH'LUHFWRUVGRQRWGUDZDQ\UHPXQHUDWLRQIURPWKH&RUSRUDWLRQRWKHUWKDQ VLWWLQJIHHVDQGVXFKFRPPLVVLRQQRWH[FHHGLQJRIWKHQHWSUR¿WVRIWKH&RUSRUDWLRQDV approved by the shareholders and computed in the manner laid down in section 198 of the &RPSDQLHV$FWDVPD\EHGHWHUPLQHGE\WKH%RDUGIURPWLPHWRWLPH,QYLHZRI LQDGHTXDF\RISUR¿WVQRFRPPLVVLRQKDVEHHQSDLGWRWKH1RQ([HFXWLYH'LUHFWRUV   'HWDLOVRISD\PHQWVPDGHWR1RQ([HFXWLYH'LUHFWRUVGXULQJWKH\HDU DUHJLYHQ below: (In Rupees) Name of Director Sitting fees for Board Total No. of Shares and Committee held in the Corporation Meetings as on 31st March, 2017 Mr. Nusli N. Wadia 140,000 61,41,505 Mr. A. K. Hirjee 240,000 1,750 Mr. M. L. Apte 380,000 Nil Mr. D. E. Udwadia 240,000 Nil Mr. Jeh Wadia 140,000 3,500 'U 0UV 6KHHOD%KLGH 100,000 Nil 'U 0UV 0LQQLH%RGKDQZDOD Nil Nil 0U5DMHVK%DWUD Nil 6,250

26 Annual Report 2016-2017

During the year ended 31st March, 2017, the Corporation paid `WRWKHODZ ¿UP0V8GZDGLD &RDVIHHVIRUSURIHVVLRQDOVHUYLFHVSURYLGHGE\LWIURPWLPHWRWLPH Mr. D. E. Udwadia is the proprietor of the above concern. The Corporation has received FRQ¿UPDWLRQIURP0V8GZDGLD &RWKDWWKHSURIHVVLRQDOIHHVSDLGGXULQJWKH\HDUHQGHG 31st 0DUFKWRLWLVOHVVWKDQRIWKHJURVVWXUQRYHURIWKH¿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(%,´ XQGHU6(%, /LVWLQJ2EOLJDWLRQV 'LVFORVXUH5HTXLUHPHQWV 5HJXODWLRQV DVPD\EHDSSOLFDEOH  WKH%RDUGRI'LUHFWRUV ³%RDUG´ KDVFDUULHGRXWDQDQQXDOHYDOXDWLRQRILWVRZQSHUIRUPDQFH and that of its Committees and individual directors.   7KHSHUIRUPDQFHRIWKH%RDUGDQGLQGLYLGXDOGLUHFWRUVZDVHYDOXDWHGE\WKH%RDUGVHHNLQJ inputs from all the Directors. The performance of the Committees was evaluated by the %RDUG VHHNLQJ LQSXWV IURP WKH &RPPLWWHH PHPEHUV 7KH 1RPLQDWLRQ DQG 5HPXQHUDWLRQ 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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of committees, effectiveness of committee meetings etc. The criteria for performance HYDOXDWLRQ RI WKH LQGLYLGXDO GLUHFWRUV LQFOXGHG DVSHFWV RQ FRQWULEXWLRQ WR WKH %RDUG DQG 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 Regulation 20 of the Listing Regulations,2015. 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 5HJXODWLRQV    DQG  RI6(%, 3URKLELWLRQRI,QVLGHU7UDGLQJ 5HJXODWLRQV The Stakeholders’ Relationship Committee (SRC) comprises of two Independent 'LUHFWRUVDQG3URPRWHU([HFXWLYH'LUHFWRU    ‡ 0U$.+LUMHH &KDLUPDQ    ‡ 0U0/$SWH    ‡ 0U1HVV:DGLD

27 The Bombay Burmah Trading Corporation, Limited

During the year under review, one meeting of this Committee was held on 30th March, 2017.

Name of Director No. of Meetings attended Mr. A. K. Hirjee - Mr. M. L. Apte 1 Mr. Ness Wadia 1

   7KH %RDUG KDV JLYHQ DXWKRULW\ WR DQ\ WZR 'LUHFWRUV UHVLGLQJ LQ 0XPEDL WR DSSURYH 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 DQGWKHVDPHDUHFRQ¿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 21 times for the approval of the Directors.

   0U1+'DWDQZDOD9LFH3UHVLGHQW&RUSRUDWH &RPSDQ\6HFUHWDU\LVWKH&RPSOLDQFH 2I¿FHURIWKH&RUSRUDWLRQ

No. of shareholders’ complaints received during the year 4 No. of complaints not resolved to the satisfaction of shareholders Nil No. of pending share transfers Nil

   1RWH7KH&RUSRUDWLRQKDVGHVLJQDWHGDQHPDLO,'H[FOXVLYHO\IRUUHJLVWHULQJFRPSODLQWV by investors and investors can reach the Corporation at [email protected] (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.

  7KH&65&RPPLWWHHFRQVLVWVRIWZR,QGHSHQGHQW'LUHFWRUVDQGRQH3URPRWHU1RQ([HFXWLYH Director :

  ‡ 0U$.+LUMHH &KDLUPDQ   ‡ 0U0/$SWH   ‡ 0U-HK:DGLD During the year, one meeting of the CSR Committee was held on 30th March, 2017 wherein Mr. M. L. Apte and Mr. Jeh Wadia were present The broad terms of reference of the CSR Committee include:

  L  7R IRUPXODWH DQG UHFRPPHQG WR WKH %RDUG D &RUSRUDWH 6RFLDO 5HVSRQVLELOLW\ &65  3ROLF\ZKLFKVKDOOLQGLFDWHWKHDFWLYLWLHVWREHXQGHUWDNHQE\WKH&RUSRUDWLRQDVVSHFL¿HG in 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.

28 Annual Report 2016-2017

(e) Independent Directors’ Meeting:

During the year under review, a separate meeting of the Independent Directors was held on 30th March, 2017, inter alia, to discuss:

  ‡ SHUIRUPDQFHRIQRQLQGHSHQGHQW'LUHFWRUVDQGWKH%RDUGDVDZKROH

  ‡ SHUIRUPDQFHRIWKH&KDLUPDQ   ‡ WKHTXDOLW\TXDQWLW\DQGWLPHOLQHVRIÀRZRILQIRUPDWLRQEHWZHHQWKHPDQDJHPHQWDQG WKH %RDUG WKDW LV QHFHVVDU\ IRU WKH %RDUG WR HIIHFWLYHO\ DQG UHDVRQDEO\ SHUIRUP WKHLU duties. The meeting was attended by Mr. M.L. Apte and Mr. D. E. Udwadia, Directors, to discuss aforesaid matters pertaining to the Corporation’s affairs and put forth their combined views WRWKH%RDUGRI'LUHFWRUV Familiarisation program for Independent Directors   7KH%RDUGPHPEHUVDUHSURYLGHGZLWKQHFHVVDU\GRFXPHQWVUHSRUWVDQGLQWHUQDOSROLFLHV to enable them to familiarize with the Corporation’s procedures and practices. Detailed presentations on the overall business, division-wise performance, business strategy, risks LQYROYHGDQGPLWLJDWLRQPHDVXUHVDGRSWHGDUHPDGHDW%RDUG$XGLW&RPPLWWHHPHHWLQJV 'HWDLOVRIWKHIDPLOLDUL]DWLRQPRGXOHDUHJLYHQLQWKH&RUSRUDWLRQ¶VZHEVLWHKWWSEEWFOFRP FRUSRUDWHJRYHUQDQFH 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

113th August, 2014 <%&KDYDQ 1) Consent of the Corporation under section at 4.00 pm Auditorium, 180(1)(c) of the Companies Act, 2013 to Gen Jagannath borrow monies upto ` 600 crores over and %KRVDOH0DUJ above the aggregate of the paid-up Capital Mumbai 400021 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;

25th August, 2015 <%&KDYDQ 1) Approval under Sections 196,197,203 at 3.45pm Auditorium, and other applicable provisions of the Gen Jagannath Companies Act, 2013 and rules made %KRVDOH0DUJ thereto to pay remuneration to Mr. Ness Mumbai 400021 Wadia, Managing Director with effect from April, 01, 2014, on the terms and conditions as recommended by the NRC for the remaining period of his tenure ie. up to March, 31, 2016.

29 The Bombay Burmah Trading Corporation, Limited

Sr. Date and Time of Venue Special Resolutions passed No AGM

35th August, 2016 5DPD 6XQGUL 1) Approval under Sections 196,197,203 at 4.00pm Watumull and other applicable provisions of Auditorium, the Companies Act, 2013 and rules Dinshaw made thereto (including any statutory Vachha Road, PRGL¿FDWLRQ V  RU UHHQDFWPHQW WKHURI  Mumbai 400020 read with section II of Part II of Schedule V of the act and subject to the approval of Central government and other approvals sanctions or permissions, if any to the H[WHQWQHFHVVDU\FRQVHQWEHDQGLVKHUHE\ accorded to the re-appointment of Mr. Ness Wadia , as Managing Director for a period of 5 years with effect from April, 01, 2016 to 31st March, 2021, on the terms and conditions as recommended by the 15&DQGDSSURYHGE\WKH%RDUG

 E 'HWDLOVRI5HVROXWLRQVSDVVHGWKURXJK3RVWDO%DOORW During the year under review, the Corporation sought the approval of the shareholders by ZD\RI6SHFLDO5HVROXWLRQWKURXJK3RVWDO%DOORW1RWLFHGDWHGth December, 2016 for i) making loans, investments under section 186 and other applicable provisions, if any, of the Companies Act, 2013 (II) issue of Redeemable Non – Convertible Debentures upto ` 150 Crores, as per the details given below:

Sr. Description of Resolution No. of votes Votes cast for Votes cast No. polled against 1. Special Resolution: 5,47,81,305 5,43,54,369 4,26,936 To give loans to any person votes (99.22%) (0.78%) or body corporate, give any guarantee or provide any security in connection with a loan to any body corporate or person and acquire by way of subscription, purchase or otherwise, the securities of any other body corporate upto aggregate of ` 500 crores pursuant to section 186 of the Companies Act, 2013. 2. Special Resolution: 5,47,78,530 5,45,86,821 1,91,709 To issue Redeemable Non- votes (99.65%) (0.35%) Convertible Debentures upto ` 150 crores on private placement basis. The resolutions were approved by the shareholders with the requisite and overwhelming majority.

30 Annual Report 2016-2017

  0U 7XVKDU 6KULGKDUDQL 3UDFWLVLQJ &RPSDQ\ 6HFUHWDU\ ZDV DSSRLQWHG E\ WKH %RDUG DV 6FUXWLQL]HUWRFRQGXFWWKH3RVWDO%DOORWSURFHVVDQGWKHUHVXOWVRIWKHVDPHZHUHGHFODUHG on 31st January, 2017. (c) Whether any Special Resolution is proposed to be passed through postal ballot this year: &XUUHQWO\WKHUHLVQRSURSRVDOWRSDVVDQ\6SHFLDOUHVROXWLRQWKURXJK3RVWDO%DOORW6SHFLDO UHVROXWLRQVE\ZD\RI3RVWDO%DOORWLIUHTXLUHGWREHSDVVHGLQWKHIXWXUHZLOOEHGHFLGHGDW 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 KWWSEEWFOFRPUHODWHGSDUW\WUDQVDFWLRQSROLF\$OOWUDQVDFWLRQVHQWHUHGLQWRZLWK5HODWHG 3DUWLHVDVGH¿QHGXQGHUWKH&RPSDQLHV$FWDQG5HJXODWLRQRIWKH/LVWLQJ5HJXODWLRQV GXULQJWKH¿QDQFLDO\HDUZHUHLQWKHRUGLQDU\FRXUVHRIEXVLQHVVDQGRQDQDUPV¶OHQJWK basis and do not attract the provisions of Section 188 of the Companies Act, 2013. However in compliance with the requirement of the aforesaid Regulation 23, prior approval of the Audit Committee was sought for entering into the Related Party Transactions wherever required. All transactions with related parties are reported to the Audit Committee periodically .None RIWKHWUDQVDFWLRQVGXULQJWKH\HDUXQGHUUHYLHZZDVLQFRQÀLFWZLWKWKHLQWHUHVWVRIWKH Corporation . (b) Accounting Treatment :   3XUVXDQWWRWKHQRWL¿FDWLRQLVVXHGE\0LQLVWU\RI&RUSRUDWH$IIDLUVWKH&RUSRUDWLRQKDV adopted the Indian Accounting Standards ( ‘Ind As’ ) with effect from1st April, 2016. (c) Dividend Distribution Policy: The Corporation has adopted a Dividend Distribution Policy in accordance with the UHTXLUHPHQWVRI5HJXODWLRQ$RIWKH6(%, /2'5 5HJXODWLRQV7KHVDPHLVDYDLODEOH on the website of the Corporation.   ZHEVLWHKWWSEEWFOFRPFRUSRUDWHJRYHUQDQFH (d) Risk Management: A detailed review of business risks and the Corporation’s plan to mitigate them is presented WR WKH $XGLW &RPPLWWHH DQG %RDUG 7KH &RUSRUDWLRQ KDV EHHQ WDNLQJ VWHSV WR PLWLJDWH IRUHVHHDEOH EXVLQHVV ULVNV %XVLQHVV ULVN HYDOXDWLRQ DQG PDQDJHPHQW LV DQ RQJRLQJ DQG continuous process within the Corporation and regularly updated to the Audit Committee DQG%RDUG (e) Code of Conduct:   7KH&RUSRUDWLRQKDVODLGGRZQD&RGHRI&RQGXFWIRUWKHPHPEHUVRIWKH%RDUGDVZHOODV for all employees of the Corporation. The Code has also been posted on the Corporation’s ZHEVLWHKWWSEEWFOFRPFRUSRUDWHJRYHUQDQFH   7KH 0DQDJLQJ 'LUHFWRU KDV FRQ¿UPHG DQG GHFODUHG WKDW DOO PHPEHUV RI WKH %RDUG DQG 6HQLRU0DQDJHPHQWKDYHDI¿UPHGFRPSOLDQFHZLWKWKH&RGHRI&RQGXFW (f) 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.

31 The Bombay Burmah Trading Corporation, Limited

 J &(2&)2&HUWL¿FDWLRQ

  0U1HVV:DGLD0DQDJLQJ'LUHFWRUDQG0U$PLW&KKDEUD&)2KDYHSURYLGHGWKH&HUWL¿FDWH WRWKH%RDUGLQDFFRUGDQFHZLWK5HJXODWLRQRIWKH/LVWLQJ5HJXODWLRQVSHUWDLQLQJWR &(2&)2FHUWL¿FDWLRQIRUWKH¿QDQFLDO\HDUHQGHGVW0DUFK (h) 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 VHQVLWLYHLQIRUPDWLRQLQWHUPVRI5HJXODWLRQV    DQG  RI6(%, 3URKLELWLRQRI,QVLGHU Trading) Regulations, 2015. The Code has also been posted on the Corporation’s website KWWSEEWFOFRPFRUSRUDWHJRYHUQDQFH

  $OO3URPRWHUV'LUHFWRUV.H\0DQDJHULDO3HUVRQVDQGRWKHU6SHFL¿HGSHUVRQVZKRFRXOG have access to unpublished price sensitive information of the Corporation are governed by this Code.

 L  '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 2016-2017.

(j) Details of compliance with mandatory requirements and discretionary requirements Revelation 27:

The Corporation has complied with all the mandatory requirements of Corporate Governance. $VUHJDUGVWKHGLVFUHWLRQDU\UHTXLUHPHQWVWKHH[WHQWRIFRPSOLDQFHKDVEHHQVWDWHGLQWKLV report against each item. 6. Means of Communication:  L  4XDUWHUO\$QQXDOUHVXOWV   7KHXQDXGLWHGTXDUWHUO\DQGKDOI\HDUO\UHVXOWVDUHDQQRXQFHGZLWKLQIRUW\¿YHGD\VIURP WKHHQGRIWKHTXDUWHUKDOI\HDUDQGWKHDXGLWHGDQQXDOUHVXOWVZLWKLQVL[W\GD\VIURPWKH HQGRIWKHODVWTXDUWHUDVVWLSXODWHGXQGHUWKH/LVWLQJ$JUHHPHQWZLWKWKH6WRFN([FKDQJHV DQGDUHVHQWWRWKH6WRFN([FKDQJHVLPPHGLDWHO\DIWHUWKHVHDUHDSSURYHGE\WKH%RDUG  LL  3XEOLFDWLRQRI4XDUWHUO\$QQXDOUHVXOWV   7KHUHVXOWVDUHVHQWWRWKH6WRFN([FKDQJHVLPPHGLDWHO\RQDSSURYDOE\WKH%RDUGDQGDUH published in The Free Press Journal (English) and Navshakti ( Marathi).  LLL :HEVLWHZKHUHGLVSOD\HGKWWSZZZEEWFOFRP  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

32 Annual Report 2016-2017

7. General Shareholder Information : (a) AGM : Date, Time and Venue: Thursday, 3rd$XJXVWDWSPDW<%&KDYDQ$XGLWRULXP*HQ-%KRVDOH0DUJ Mumbai 400021. (b) Financial Calendar (tentative):

Financial reporting for the quarter ending June, 2017 %\th August, 2017 Financial reporting for the quarter ending September, 2017 %\th November, 2017 Financial reporting for the quarter ending December, 2017 %\th February, 2018 Financial reporting for the year ending 31st March, 2018 %\th May, 2018 Annual General Meeting for the year ending 31st March, 2018 /DVW ZHHN RI -XO\¿UVW week of August, 2018 (c) Book closure period: 22nd July, 2017 to 3rd August, 2017 (both days inclusive). (d) Dividend payment date: 10th August, 2017. (e) Listing on Stock Exchanges: The Corporation’s Securities are listed at    %6(/LPLWHG0XPEDLDQG    7KH1DWLRQDO6WRFN([FKDQJHRI,QGLD/WG0XPEDL /LVWLQJIHHVDVSUHVFULEHGKDYHEHHQSDLGWRWKHDIRUHVDLG6WRFN([FKDQJHVXSWR0DUFK 2018. (f) Stock Code:   %6(/WG    1DWLRQDO6WRFN([FKDQJHRI,QGLD/WG%%7&(4 (g) Stock Market Data: 3OHDVHVHH$QQH[XUH (h) Stock Performance: 3OHDVHVHH$QQH[XUH (i) Registrar & Transfer Agents:   .DUY\&RPSXWHUVKDUH3YW/WGZHUHDSSRLQWHGDVWKH5HJLVWUDUDQG7UDQVIHU$JHQW 5 7$  with effect from 1st April, 2016 to handle the entire share registry work, both physical and electronic. Accordingly, all documents, transfer deeds, demat requests and other FRPPXQLFDWLRQVLQUHODWLRQWKHUHWRVKRXOGEHDGGUHVVHGWRWKH5 7$DWLWVIROORZLQJRI¿FHV Karvy Computershare Pvt. Ltd. Unit: The Bombay Burmah Trading Corporation, Limited   .DUY\6HOHQLXP7RZHU%3ORW*DFKLERZOL Financial District, Nanakramguda, Hyderabad – 500 032 Email Id: einward.ris@karvy .com   3KRQH)D[1R Website: www.karvycomputershare.com E-mail: [email protected] (j) Share Transfer System: Share transfers in physical form are registered within a period of 7 to 15 days from the date RIUHFHLSWLQFDVHGRFXPHQWVDUHFRPSOHWHLQDOOUHVSHFWV7KHWRWDOQXPEHURIWUDQVIHUV WUDQVPLVVLRQVUHFHLYHGDQGWRWDOQXPEHURIVKDUHVWUDQVIHUUHGWUDQVPLWWHGGXULQJWKH\HDU 1st April, 2016 to 31st March, 2017 were:

33 The Bombay Burmah Trading Corporation, Limited

Particulars No. of Transfers No. of Shares Transfers 18 15,700 Transmission 33 24,950 Total 51 40,650 (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). 87.93% of the paid-up capital of the Corporation were held in dematerialized form as on 31st March, 2017. (l) (i) Distribution of shareholding as on 31st March, 2017. Group of Shares No. of Shareholders No. of Shares held % of Total Shares 1 to 500 15065 20,01,947 2.87 501 to 1000 1451 12,07,119 1.73 1001 to 2000 887 13,50,084 1.93 2001 to 3000 455 11,66,950 1.67 3001 to 4000 205 7,22,966 1.04 4001 to 5000 126 5,80,991 0.83 5001 to 10000 281 19,96,741 2.86 10001 and above 212 6,07,45,102 87.06 Total 18682 6,97,71,900 100.00 2) Shareholding pattern as on 31st March, 2017. Particulars No. of Shares held % of Shares 3URPRWHU*URXS  4,59,85,745 65.91 )LQDQFLDO,QVWLWXWLRQV%DQNV 21,095 0.03 Insurance Companies 6,69,708 0.96 0XWXDO)XQG 8QLW7UXVWRI,QGLD 28,82,329 4.13 FIIs and FPI 10,09,141 1.45 Others 1,92,03,882 27.52 Total 6,97,71,900 100.00    3URPRWHU *URXS LQFOXGHV 0U1XVOL 1 :DGLD DQG KLV UHODWLYHV LQ WHUPV RI 6HFWLRQ  (77) of the Companies Act, 2013, Archway Investments Company Limited, Nowrosjee :DGLD  6RQV /LPLWHG 1 : ([SRUWV /LPLWHG 1DWLRQDO 3HUR[LGH /LPLWHG 1DSHURO ,QYHVWPHQWV/LPLWHG6XQÀRZHU,QYHVWPHQWV 7H[WLOHV/WG:DGLD,QYHVWPHQWV/LPLWHG *R,QYHVWPHQW 7UDGLQJ3YW/WG1HVYLOOH7UDGLQJ3YW/WG$QG9DUQLODP,QYHVWPHQW  Trading Co. Ltd. (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 7KHDXGLWLQWHUDOLDFRQ¿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.

34 Annual Report 2016-2017

(n) Unpaid Dividend : In terms of Section 125 of the Companies Act, 2013 (erstwhile Section 205C of the Companies Act, 1956) read with the Investor Education and Protection Fund (Accounting, Audit, Transfer and Refund) Rules, 2016, during the year ended 31st March 2017, the Corporation has transferred an amount of `EHLQJXQSDLGGLYLGHQGSHUWDLQLQJWRWKH)< 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 6LGDSXU 3  T.O., South Coorg, Karnataka 571253   8VDPEDUD*URXS0DUYHUD +HUNXOX(VWDWH32%R[ Soni, Tanzania Auto Ancillary Division Plot no. 128-133, IIIrd Cross Street, Nehru Nagar, Kottivakkam, Tiruvanmiyur, Chennai, Tamil Nadu 600041 Dental Products of India 3ORW1R%9LOODJH'DQSXU5XGUDSXU.DVKLSXU5RDG Division Paragana-Rudrapur, Tehsil Kichha, Udhamsingh Nagar, Uttarakhand 263153 Weighing Products Division Plot 304, GIDC, Gundlav, Valsad, Gujarat 396035   5HJLVWHUHG2I¿FH:DOODFH6WUHHW)RUW0XPEDL Email: [email protected] (p) Green Initiative :   %\YLUWXHRI0LQLVWU\RI&RUSRUDWH$IIDLUV ³0&$´ &LUFXODU1RVDQGGDWHG 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 the Registrar and Transfer Agent. Physical copies are also provided to such members on VSHFL¿FUHTXHVW 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 HPDLOJLYLQJWKHLU5HJLVWHUHG)ROLR1XPEHUDQGRU'3,G&OLHQW,'WRWKH5HJLVWUDUV.DUY\ Computershare Pvt. Ltd. at email id: [email protected]. 8. Discretionary Requirements :   &KDLUPDQ¶VRI¿FHH[SHQVHV   7KH &RUSRUDWLRQ UHLPEXUVHV VHFUHWDULDO DQG WUDYHO H[SHQVHV LQFXUUHG E\ WKH &KDLUPDQ¶V RI¿FHLQWKHSHUIRUPDQFHRIKLVGXWLHVRQWLPHVSHQWEDVLV 2. Shareholder 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

35 The Bombay Burmah Trading Corporation, Limited

VHQW VHSDUDWHO\ WR WKH VKDUHKROGHUV RWKHU WKDQ  RQ UHFHLSW RI  VSHFL¿F UHTXHVW IURP DQ\ shareholder in this regard.   4XDOL¿FDWLRQVLQ)LQDQFLDO6WDWHPHQWV   7KHUHDUHQRTXDOL¿FDWLRQVLQWKH,QGHSHQGHQW$XGLWRUV¶5HSRUWRQWKH6WDQGDORQH)LQDQFLDO Statements. However, the Independent Auditors’ Report on the Consolidated Financial 6WDWHPHQWVKDVEHHQTXDOL¿HGDQGWKHUHDVRQIRUWKHVDPHLVJLYHQWKH'LUHFWRUV¶5HSRUW 4. Report of internal audit: The Internal Auditors report directly to the Audit Committee.

DECLARATION $V SURYLGHG XQGHU WKH 6(%, /LVWLQJ 2EOLJDWLRQV DQG 'LVFORVXUH 5HTXLUHPHQWV  5HJXODWLRQV WKLVLVWRFRQ¿UPWKDWDOOWKH'LUHFWRUVDQG0HPEHUVRI6HQLRU0DQDJHPHQWKDYHDI¿UPHG FRPSOLDQFHZLWKWKH&RGHRI&RQGXFWIRUWKH¿QDQFLDO\HDUHQGHGst March, 2017.

)RU7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/LPLWHG

Ness Wadia Managing Director Mumbai, 30th May, 2017

36 Annual Report 2016-2017

Annexure 1 STOCK MARKET DATA 2016-17

Month Month's High Month's Low No. of Shares Traded No. of Trades Price (In `) Price(In `) %6( NSE %6( NSE %6( NSE %6( NSE Apr-16 426.00 425.50 365.00 364.20 247758 631935 12807 24449 May-16 437.00 437.40 351.50 352.80 240700 807217 12040 30880 Jun-16 423.70 423.90 377.00 376.00 172787 703820 8511 25076 Jul-16 427.70 427.50 390.00 393.60 175312 691551 7272 26158 Aug-16 528.00 528.00 394.00 395.00 1471615 6204806 62910 168129 Sep-16 636.00 635.60 487.00 488.00 1980062 6466904 78338 177015 Oct-16 673.40 674.00 573.40 574.00 1013135 3743147 46285 104122 Nov-16 627.45 626.00 452.80 441.05 433281 1420614 22251 49210 Dec-16 536.60 536.40 474.00 472.95 246107 1042926 15299 40809 Jan-17 619.60 619.00 515.05 516.30 888726 2383550 50153 125428 Feb-17 684.50 683.80 596.75 596.40 931338 2834482 42725 115961 Mar-17 885.00 885.00 675.00 675.05 7244015 11506496 135906 352228

Annexure 2

COMPANY SHARE PRICE AND BSE SENSEX - MONTHLY HIGH

900 32,000

720 25,600

540 19,200

360 12,800 BSE SENSEX

BBTCL (Rs.) SHARE PRICE 180 6,400

0 0 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17

Share Price Sensex

37 The Bombay Burmah Trading Corporation, Limited

CERTIFICATE

$XGLWRUV¶FHUWL¿FDWHRQ&RUSRUDWH*RYHUQDQFH To the Members of The Bombay Burmah Trading Corporation, Limited

,QGHSHQGHQW$XGLWRUV¶&HUWL¿FDWHRQ&RPSOLDQFHZLWKWKH&RUSRUDWH*RYHUQDQFHUHTXLUHPHQWV under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

 7KLVFHUWL¿FDWHLVLVVXHGLQDFFRUGDQFHZLWKWKHWHUPVRIRXUDJUHHPHQWGDWHG2FWREHU 2. This report contains details of compliance of conditions of corporate governance by The %RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/LPLWHG µWKH&RPSDQ\¶ IRUWKH\HDUHQGHG0DUFK 2017 as stipulated in regulations 17-27, clause (b) to (i) of regulation 46 (2) and paragraphs &'DQG(RI6FKHGXOH9RIWKH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD /LVWLQJ2EOLJDWLRQV and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) pursuant to the Listing $JUHHPHQWRIWKH&RPSDQ\ZLWK6WRFNH[FKDQJHV Management’s Responsibility for compliance with the conditions of Listing Regulations

3. The compliance with the terms and conditions contained in the corporate governance is the responsibility of the Management of the Company including the preparation and maintenance of all relevant supporting records and documents. Auditors’ Responsibility

 2XU H[DPLQDWLRQ ZDV OLPLWHG WR SURFHGXUHV DQG LPSOHPHQWDWLRQ WKHUHRI DGRSWHG E\ WKH Company for ensuring the compliance of the conditions of Corporate Governance. It is neither DQDXGLWQRUDQH[SUHVVLRQRIRSLQLRQRQWKH¿QDQFLDOVWDWHPHQWVRIWKH&RPSDQ\ 5. Pursuant to the requirements of the Listing Regulations, it is our responsibility to provide a reasonable assurance whether the Company has complied with the conditions of Corporate Governance as stipulated in Listing Regulations for the year ended 31 March 2017.

 :HFRQGXFWHGRXUH[DPLQDWLRQLQDFFRUGDQFHZLWKWKH*XLGDQFH1RWHRQ5HSRUWVRU&HUWL¿FDWHV for Special Purposes issued by the Institute of Chartered Accountants of India. The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India. 7. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements. Opinion

 ,QRXURSLQLRQDQGWRWKHEHVWRIRXULQIRUPDWLRQDQGDFFRUGLQJWRH[SODQDWLRQVJLYHQWRXV we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the above-mentioned Listing Regulations. 9. We state that such compliance is neither an assurance as to the future viability of the Company QRUWKHHI¿FLHQF\RUHIIHFWLYHQHVVZLWKZKLFKWKHPDQDJHPHQWKDVFRQGXFWHGWKHDIIDLUVRIWKH Company.

38 Annual Report 2016-2017

Restriction on use 7KHFHUWL¿FDWHLVDGGUHVVHGDQGSURYLGHGWRWKHPHPEHUVRIWKH&RPSDQ\VROHO\IRUWKHSXUSRVH to enable the Company to comply with the requirement of the Listing Regulations, and it should not be used by any other person or for any other purpose. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom WKLVFHUWL¿FDWHLVVKRZQRULQWRZKRVHKDQGVLWPD\FRPHZLWKRXWRXUSULRUFRQVHQWLQZULWLQJ

For B S R & Co. LLP Chartered Accountants )LUP¶V5HJLVWUDWLRQ1R::

Vijay Mathur Partner Membership No: 046476 Mumbai, 30 May 2017

39 The Bombay Burmah Trading Corporation, Limited

FORM NO. MGT 9 Annexure E EXTRACT OF ANNUAL RETURN DVRQ¿QDQFLDO\HDUHQGHGRQ Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) RIWKH&RPSDQ\ 0DQDJHPHQW $GPLQLVWUDWLRQ 5XOHV

I. REGISTRATION AND OTHER DETAILS: i CIN L99999MH1863PLC000002 ii Registration Date  iii Name of the Company 7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/WG iv &DWHJRU\6XEFDWHJRU\RIWKH&RPSDQ\ Limited Company v $GGUHVVRIWKH5HJLVWHUHGRI¿FH FRQWDFW 9, Wallace Street, Fort, Mumbai 400001 details vi Whether listed company Yes vii 1DPH $GGUHVV  FRQWDFW GHWDLOV RI WKH Karvy Computershare Pvt. Ltd, Karvy Selenium 5HJLVWUDU 7UDQVIHU$JHQWLIDQ\ 7RZHU%3ORW*DFKLERZO)LQDQFLDO'LVW Hyderabad 500032 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

Sl. Name & Description of NIC Code of the Product / % to total turnover of the No. main products/services service company 1 Tea 1271 32.07 2 Coffee 1272 17.79 3 Auto ancillary 2930, 0271, 0273 40.10 4 Dental Products 3250 9.28

III. PARTICULARS OF HOLDING, SUBSIDIARY & ASSOCIATE COMPANIES

Sl. Name & Address of the CIN/GLN Holding/ % of Applicable No. Company subsidiary/ shares section associate held 1 $IFR,QGXVWULDO  U24110MH1983PLC012744 Subsidiary 100 2(87) Chemicals Ltd 2 6HD:LQG,QYHVWPHQW  U65993MH1988PLC047564 Subsidiary 100 2(87) Trading Co.Ltd 3 '3,3URGXFWV 6HUYLFHV U85100MH1962PLC012345 Subsidiary 100 2(87) Ltd 4 Subham Viniyog Private U65990MH1987PTC042358 Subsidiary 100 2(87) Ltd. 5 /HLOD/DQQGV6GQ%KG Foreign Company Subsidiary 100 2(87) 6 Naira Holdings Limited Foreign Company Subsidiary 100 2(87)

40 Annual Report 2016-2017

Sl. Name & Address of the CIN/GLN Holding/ % of Applicable No. Company subsidiary/ shares section associate held 7 Island Horti-Tech Foreign Company Subsidiary 100 2(87) Holdings Pte. Limited 8 Leila Lands Limited Foreign Company Subsidiary 100 2(87) 9 Restpoint Investments Foreign Company Subsidiary 100 2(87) Limited 10 ,VODQG/DQGVFDSH  Foreign Company Subsidiary 100 2(87) Nursery Pte. Limited 11 %D\PDQFR,QYHVWPHQWV Foreign Company Subsidiary 100 2(87) Limited 12 Innovative Organics Inc. Foreign Company Subsidiary 58.80% 2(87) 13 $%,+ROGLQJ/LPLWHG Foreign Company Subsidiary 100 2(87) 14 %ULWDQQLD%UDQGV Foreign Company Subsidiary 100 2(87) Limited 15 $VVRFLDWHG%LVFXLWV Foreign Company Subsidiary 100 2(87) International Limited 16 Dowbiggin Enterprises Foreign Company Subsidiary 100 2(87) Pte. Limited 17 Nacupa Enterprises Pte. Foreign Company Subsidiary 100 2(87) Limited 18 Spargo Enterprises Pte. Foreign Company Subsidiary 100 2(87) Limited 19 Valletort Enterprises Foreign Company Subsidiary 100 2(87) Pte. Limited 20 %DQQDW\QH(QWHUSULVHV Foreign Company Subsidiary 100 2(87) Pte. Limited 21 %ULWDQQLD,QGXVWULHV /:%3/& Subsidiary 50.75 2(87) Limited 22 Granum Inc. Foreign Company Subsidiary 58.80% 2(87) 23 %RULEXQGHU)LQDQFH  U65990MH1983PTC030883 Subsidiary 100 2(87) Investments Private Limited 24 Flora Investments U65990MH1983PTC030875 Subsidiary 100 2(87) Company Private Limited 25 *LOW(GJH)LQDQFH  U65990MH1983PTC030884 Subsidiary 100 2(87) Investments Private Limited 26 Ganges Valley Foods 8:%37& Subsidiary 51.00 2(87) Private Limited 27 ,QWHUQDWLRQDO%DNHU\ U15419TN1997PLC037876 Subsidiary 100 2(87) Products Limited

41 The Bombay Burmah Trading Corporation, Limited

Sl. Name & Address of the CIN/GLN Holding/ % of Applicable No. Company subsidiary/ shares section associate held 28 -%0DQJKDUDP)RRGV U15100MH1984PTC031983 Subsidiary 100 2(87) Private Limited 29 Manna Foods Private U15400KA1994PTC015687 Subsidiary 100 2(87) Limited 30 6XQULVH%LVFXLW U15412AS1985PTC002361 Subsidiary 99.16 2(87) Company Private Limited 31 'DLO\%UHDG*RXUPHW U01549KA2003PTC031859 Subsidiary 100 2(87) Foods (India) Private Limited 32 %ULWDQQLD'DLU\3ULYDWH 8:%37& Subsidiary 100 2(87) Limited 33 %ULWDQQLDDQG Foreign Company Subsidiary 100 2(87) Associates (Mauritius) Private Limited 34 %ULWDQQLDDQG Foreign Company Subsidiary 100 2(87) Associates (Dubai) Private Company Limited 35 Al Sallan Food Foreign Company Subsidiary 65.46 2(87) Industries Company SAOG 36 Strategic Food Foreign Company Subsidiary 100 2(87) International Company LLC 37 6WUDWHJLF%UDQGV Foreign Company Subsidiary 100 2(87) Holding Company Limited 38 %ULW&KLS)RRGV/LPLWHG 8:%3/& Subsidiary 100 2(87) 39 %ULWDQQLD'DLU\+ROGLQJV Foreign Company Subsidiary 100 2(87) Private Limited 40 %ULWDQQLD(PSOR\HHV U85110MH1992GAT242375 Subsidiary NA 2(87) Educational Welfare Association Pvt. Ltd. 41 %ULWDQQLD(PSOR\HHV U91120MH19925PTC242376 Subsidiary NA 2(87) Medical Welfare Assoc. Pvt. Ltd. 42 %ULWDQQLD(PSOR\HHV U85110MH1992GAT243304 Subsidiary NA 2(87) General Welfare Assoc. Pvt. Ltd. 43 6QDFNR%LVF3YW/WG U15419TN1997PLC037876 Subsidiary 100 2(87)

42 Annual Report 2016-2017

Sl. Name & Address of the CIN/GLN Holding/ % of Applicable No. Company subsidiary/ shares section associate held 44 9DVQD$JUH[ +HUEV U01119TN1996PTC034766 Subsidiary 100 2(87) Pvt Ltd. 45 7KH%RPED\'\HLQJ  L17120MH1879PLC000037 Associate 38.18 2(6) Mfg. Co.Ltd 46 /LPD,QYHVWPHQW  U65990MH1988PTC047567 Associate 50 2(6) Trading Co. Pvt. Ltd. 47 &LQFLQQDWL,QYHVWPHQW  U65993MH1988PTC047463 Associate 50 2(6) Trading Co. Pvt. Ltd 48 6KDGKDN,QYHVWPHQW  U65990MH1988PTC047734 Associate 50 2(6) Trading Pvt. Ltd 49 5RVKQDUD,QYHVWPHQW  U65990MH1988PTC046569 Associate 50 2(6) Trading Co. Pvt. Ltd 50 MSIL Investments Pvt. U65990MH1985PTC035497 Associate 50 2(6) Ltd. 51 Lotus Viniyog Pvt. Ltd. U67120MH1987PTC042172 Associate 50 2(6) 52 Medical U33100MH1991PLC061881 Associate 50 2(6) Microtechnology Limited 53 Harvard Plantations U65120MH1988PLC048746 Associate 50 2(6) Limited 54 Placid Plantations U67120MH1988PLC048681 Associate 50 2(6) Limited 55 Klassik Foods Pvt. Ltd. U15120MH1981PTC025662 Associate 26.02 2(6) 56 1DODQGD%LVFXLWV 8%53/& Associate 35 2(6) Company Limited 57 Sunandaram Foods U15412AS2006PTC008112 Associate 26 2(6) Private Limited

3HUFHQWDJHKROGLQJLQ6XEVLGLDULHV$VVRFLDWHVUHSUHVHQWVDJJUHJDWHSHUFHQWDJHRIVKDUHVKHOGE\WKH&RUSRUDWLRQDQG or its Subsidiaries.

43 The Bombay Burmah Trading Corporation, Limited - - - year during the 57.10 Shares 669708 0.96 -0.01 6141505 8.81 6141505 8.81 - - - Demat Physical Total % of Total 1083057 - 1083057 1.55 -1.55 39844240 - 39844240 57.10 Shares 675400 0.97 669708 ------17000 - 17000 0.02 17000 - 17000 0.02 - 126740 32750 159490675400 0.23 83499 32750 116249 0.17 0.06 Demat Physical Total % of Total 2901421 750 2902171 4.16 2877479 750 2878229 4.13 0.03 3982724039844240 - 39827240 57.08 39844240 39827240 - 39827240 57.08 - 45985745 45985745 65.91 45985745 - 45985745 65.91 - Category of Shareholders No. of Shares held at the beginning year No. of Shares held at the end year % change e) Any other SUB TOTAL:(A) (1) F  %RGLHV&RUS G  %DQNV), e) Any other… SUB TOTAL (A) (2) 6141505d) State Govt. e) Venture Capital Fund f) Insurance Companies 6141505 8.81 6141505 b) Central Govt. or State F  %RGLHV&RUSRUDWHV G  %DQN), (2) Foreign a) NRI- Individualsb) Other Individuals Shareholding of Promoter Total 6141505(A)= (A)(1)+(A)(2) B. PUBLIC SHAREHOLDING Institutions (1) a) Mutual Funds E  %DQNV), C) 6141505 Central Govt 8.81g) FIIS 6141505 A. Promoters (1) Indian D  ,QGLYLGXDO+8) IV. IV. (Equity Share capital Break up as % to total Equity) SHAREHOLDING PATTERN

44 Annual Report 2016-2017 year during the Shares 602020 0.86 0.14 ------Demat Physical Total % of Total Shares --- 66200 1802128 2.58 1214978 66200 1281178 1.84 0.75 2494452 11002205 15.77 8330150 2410102 10740252 15.39 0.38 ------17300 15500 32800 0.05 21280 15500 36780 0.05 -0.01 702520 - 702520 1.01 602020 8507753 Demat Physical Total % of Total 3720861 49000 3769861 5.4 34735023 49000 4784023 6.86 -1.45 15277403 8508752 23786155 34.09 15361753 8424402 23786155 34.09 - 2 lakhs ` & ADRs 2 lakhs

` Category of Shareholders No. of Shares held at the beginning year No. of Shares held at the end year % change holding nominal share capital upto holding nominal share capital LQH[FHVVRI GDRs Capital Funds Grand Total (A+B+C) 61263148 8508752 69771900 100 61347498 8424402 69771900 100 C. Shares held by Custodian for i) Others (specify) Trusts SUB TOTAL (B)(1): Non Institutions (2) D  %RGLHVFRUSRUDWHV i) Indianii) Overseas b) Individuals i) Individual shareholders ii) Individuals shareholders c) Others (specify) 1735928 SUB TOTAL (B)(2): NRI, Foreign National Public Shareholding Total (B)= (B)(1)+(B)(2) 610341 11556542 238400 8459752 20016294 848741 28.69 1.19 10626730 479582 8375402 19002132 5899100 6378682 27.23 9.14 1.45 -7.95 h) Foreign Venture

45 The Bombay Burmah Trading Corporation, Limited - year holding in share % change during the pledged % of shares encumbered to total shares of the shares company end of the year Shareholding at the No. of shares % of total pledged % of shares encumbered to total shares of the shares company beginning of the year 17,500 0.03 - 17,500 0.03 - 34,500 0.05 - 34,500 0.05 - - 112,625 0.16 - 112,625 0.16 - - 2,297,520 3.29 - 2,297,520 3.29 - - 4,208,400 6.03 - 4,208,400 6.03 - - 9,817,275 6,576,120 14.07 1,252,200 9.43 0.72 1.79 1.75 12,317,275 8,395,430 17.65 - 12.03 1,252,200 5.61 2.51 1.79 3.58 2.61 - - 13,038,600 18.69 - 8,719,290 12.5 10.8 -6.19 No. of shares % of total Shareholders’ Name Shareholding at the 9DUQLODP,QYHVWPHQWV  Co. Ltd. Trading Naperol Investments Ltd. Ness Nusli WadiaMaureen Nusli WadiaJehangir Nusli Wadia Pvt. Ltd. Nessville Trading Total 8,500 5,000 3,500 0.01 0.01 0.01 45,985,745 - - - 65.91 8,500 5,000 3,500 2.47 0.01 0.01 45,985,745 0.01 65.91 - - - 18.92 - - - - Nowrosjee Wadia and Nowrosjee Wadia Sons Ltd. 1:([SRUWV/WG 6XQÀRZHU ,QYHVWPHQWV DQG7H[WLOHV/WG Nusli Neville Wadia1DWLRQDO3HUR[LGH/WG Investments Ltd.Wadia 6,141,505Archway Investment 2,472,500Co. Ltd. Go Investments and Pvt. Ltd. Trading 8.81 3.54 - - 6,141,505 2,472,500 8.81 3.54 - - - - 9 10 11 12 13 14 Sl. No. 2 3 4 5 6 7 8 1 (ii) SHARE HOLDING 0F PROMOTERS

46 Annual Report 2016-2017 & ADRs

the year company % of total shares of the of the company No. of shares at the end of year 8,395,4308,719,290 12.03 12.5 12,317,275 17.65 Cumulative Share holding No.of shares % of total shares Reason Transfer Reason Cumulative Shareholding during Decrease in Shareholding holding in share- Decrease Date of change Increase/ Date Increase/ 20-03-201720-03-2017 1,819,310 (4,319,310) Transfer 3.29 20-03-2017 2,500,000 Transfer 08.04.2016 15.04.2016 13.05.2016 20.05.2016 22,088 27.05.2016 transfer 2,912 09.09.2016 12,985 transfer 24.02.2016 13,839 transfer 2,147,088 03.03.2017 23,176 transfer 10.03.2017 50,000 2,150,000 transfer (50,000) 2,162,985 24.03.2017 transfer (50,000) 2,176,824 transfer 31.03.2017 (73,500) 2,200,000 transfer (15,900) 2,250,000 transfer 2,200,000 (14,100) 3.08 transfer 2,150,000 transfer 3.08 2,076,500 3.1 2,060,600 3.12 2,046,500 3.15 3.22 3.15 3.08 2.98 2.95 2.93 company shares of the of the shares Company % of total of the Year 6,576,120 9.43 9,817,275 At the No. of Shares % of total beginning 5,659,700 2,125,000 8.11 3.05 Nil 5,659,700 8.11 of the year Shareholders’ Name Share holding at the beginning For Each of the Top 10 For Each of the Top Shareholders :DOODFH%URWKHUV 7UDGLQJ ,QGXVWULDO Ltd. 7UXVWHH&R/WG$F Savings Fund 1:([SRUWV/WG 6XQÀRZHU ,QYHVWPHQWV DQG 7H[WLOHV/WG Archway Investment Co. Ltd. 13,038,600 18.69 Sl. No. 1. 2. Reliance Capital Sl. No. 1. 2. 3. (iii) SHAREHOLDING (SPECIFY IF THERE IS NO CHANGE) CHANGE IN PROMOTERS’ (iv) & HOLDERS OF GDRs PROMOTERS THAN DIRECTORS, TEN SHAREHOLDERS (OTHER OF TOP SHAREHOLDING PATTERN

47 The Bombay Burmah Trading Corporation, Limited the year of the company No.of shares % of total shares Reason Cumulative Shareholding during holding in share- Decrease Date Increase/ 16.09.16 10.03.17 (25,000) (35,000) transfer transfer 361,320 326,320 0.52 0.47 31.03.17 Nil 540,000 0.77 17.02.17 10.03.17 24.03.17 38,900 206,000 transfer transfer 35,000 transfer 50,000 256,000 291,000 0.07 0.37 0.42 30.06.06 08.07.16 15.07.16 (10,000) (13,900) transfer transfer (1,100) transfer 123,000 109,100 108,000 0.13 0.15 0.19 04.11.2006 (5,692) transfer 669,708 0.96 of the shares Company % of total At the 675,400 0.97 386,320 0.55 540,000 0.77 150,000 0.21 133,000 0.19 Nil 150,000 0.21 beginning of the year For Each of the Top 10 For Each of the Top Shareholders Assurance Co. Ltd. $NDVK%KDQVKDOL 7UXVWHH&R/WG$& Reliance Eless Fund Pvt. Ltd. Services Ltd. Sl. No. 3. The New India 4. 5. Reliance Capital 6. Dwarkadhish Trading 8. Financial Wallfort 7. LP Acacia Partners, - - 10.02.17 11,100 transfer 11,100 0.02

48 Annual Report 2016-2017 the year of the company - No.of shares % of total shares Reason Cumulative Shareholding during holding in share- Decrease Date Increase/ 22.07.16 23.09.16 30.09.16 (25,000) 16.12.16 (17,000) transfer 06.01.17 transfer (3,000) 10.02.17 (5,000) transfer 03.03.17 83,000 25,000 transfer 10.03.17 66,000 17,000 transfer (50,000) 63,000 transfer (50,000) transfer 58,000 transfer 83,000 0.12 100,000 50,000 0.09 0.09 0.08 - 0.12 0.14 0.07 0 03.02.17 17.02.17 24.02.17 50,000 03.03.17 39,797 transfer 10.03.17 transfer 31.03.17 10,200 3 60,000 50,000 transfer transfer 50,000 89,797 transfer transfer 100,000 160,000 89,800 210,000 0.07 0.13 0.14 0.23 0.13 0.3 03.03.17 10.03.17 50,000 56,000 transfer transfer 100,000 156,000 0.14 0.22 10.03.17 (15,000) transfer 161,200 0.23 of the shares Company % of total - - - 03.02.17 50,000 transfer 50,000 0.07 At the 193,200 0.28 16.09.16 (17,000) transfer 176,200 0.25 beginning of the year For Each of the Top 10 For Each of the Top Shareholders Fund LP Fund $FDFLD%DQ\DQ partners %KDQVDOL Sl. No. 9. Acacia Conservation 10. 11. Roopchand Vallabh

49 The Bombay Burmah Trading Corporation, Limited company shares of the during the year Cumulative Shareholding No of shares % of total company shares of the the year Shareholding at the end of No.of shares % of total the year Date wise increase/ Share holding during decrease in Promoters decrease in Promoters ------6250 - 6250 0.01 6250 0.01 of the year At the beginning

KMP For each of the Directors & (w.e.f 30.03.2017) (w.e.f Mr. Nusli N Wadia Mr. A.K. Hirjee Mr. Ness N Wadia Mr. Jeh N WadiaMr. M L ApteMr. 6141505 D.E.UdwadiaMr. 0U5DMHVK%DWUD 1750 5000 (Mrs.) Minnie Dr. %RGKDQDZDOD 3500 - 6141505 - - - - 8.81 - 1750 5000 6141505 3500 - - 0.01 0.01 8.81 0.01 1750 5000 - - 3500 0.01 0.01 - - 0.01 - - - - (w.e.f 30.03.2017) (w.e.f 'U 0UV 6KHHOD%KLGH (upto 31.12.2016) 2. 3. 4. 5. 6. 7. 8. 1. 9. Sl. 10. N H Datanwala Mr. 11. Amit Chhabra Mr. ------No. (v) & KMP SHAREHOLDING OF DIRECTORS

50 Annual Report 2016-2017

in Lakhs) ` Indebtedness (11,326.92) - 437.19 - - Unsecured Loans Deposits (ICD) Total - 756.96 10,000.00 1,300.00 12,056.96 (10,630.92) (696.00) - Secured Loans excluding deposits excluding ,QGHEWQHVVDWWKHEHJLQQLQJRIWKH¿QDQFLDO\HDU i) Amount Principal ii) Interest due but not paidiii) Interest accrued but not due (i+ii+iii)Total &KDQJHLQ,QGHEWHGQHVVGXULQJWKH¿QDQFLDO\HDU Additions Reduction 131.16 22,577.00 - 6,500.00 22,708.16 - 4,000.00 - 6,500.00 33,077.00 4,000.00 - - 33,208.16 131.16 - Net Change,QGHEWHGQHVVDWWKHHQGRIWKH¿QDQFLDO\HDU i) Amount Principal ii) Interest due but not paidiii) Interest accrued but not due (i+ii+iii)Total 437.19 (9,873.96) 12,397.00 - 15,804.00 9,304.00 12,834.19 - 5,300.00 1,300.00 15,804.00 33,501.00 730.04 5,300.00 33,938.19 V. V. INDEBTEDNESS Indebtedness of the Company including interest outstanding/accrued but not due for payment (

51 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. Particulars of Remuneration Name of the Total Amount No. MD/WTD/ ` Manager 1 Gross salary NESS WADIA (a) Salary as per provisions contained in section 17(1) of the 18,849,600 18,849,600 ,QFRPH7D[$&( E  9DOXHRISHUTXLVLWHVXV  RIWKH,QFRPH7D[$FW 10,148800 10,148,800 F  3UR¿WVLQOLHXRIVDODU\XQGHUVHFWLRQ  RIWKH,QFRPH7D[ -- Act, 1961 2 Stock option - - 3 Sweat Equity - - 4 Commission - - DVRISUR¿W others (specify) 5 Others, please specify Retirals 5,995,623 5,995,623 Total (A) 34,994,023 34,994,023 Ceiling as per the Act not applicable B. Remuneration to other directors:

Sl. Particulars of Name of the Directors Total No Remuneration Amount 1 Independent Directors A K M L APTE D E UDWADIA DR. SHEELA RAJESH ` HIRJEE BHIDE BATRA (a) Fee for attending 240,000 380,000 240,000 100,000 - 960,000 board committee meetings (b) Commission ------(c) Others, please ------specify Total (1) 240,000 380,000 240,000 100,000 - 960,000 2 2WKHU1RQ([HFXWLYH NUSLI JEH DR. MINNIE Directors WADIA WADIA BODHANWALA (a) Fee for attending 140,000 140,000 - 280000 board committee meetings (b) Commission -- - - (c) Others, please -- - - specify. Total (2) 140,000 140,000 - 280,000 Total (B)=(1+2) 1,240,000 Total Managerial 36,234,023 Remuneration Overall Ceiling as per not applicable the Act

52 Annual Report 2016-2017

C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD Sl. Particulars of Remuneration Key Managerial Personnel No. 1 Gross Salary Company CFO Total Secretary ` (a) Salary as per provisions contained in section 17(1) of the 6,068,044 6,100,000 12,168,044 ,QFRPH7D[$FW E 9DOXHRISHUTXLVLWHVXV  RIWKH,QFRPH7D[$FW - 900,000 900,000 F  3UR¿WVLQOLHXRIVDODU\XQGHUVHFWLRQ  RIWKH,QFRPH - 7D[$FW 2 Stock Option - 3 Sweat Equity - 4 Commission - DVRISUR¿W others, specify 5 %RQXV -- Retrials - - Total 6,068,044 7,000,000 13,068,044 VII PENALTIES/PUNISHMENT/COMPOUNDING 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 Compounding B. DIRECTORS Penalty Punishment NIL Compounding C. OTHER OFFICERS IN DEFAULT Penalty Punishment NIL Compounding

53 The Bombay Burmah Trading Corporation, Limited

Annexure F SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED ON 31st MARCH, 2017 [Pursuant to section 204(1) of the Companies Act, 2013 and rule No. 9 of the Companies (Appointment and Remuneration of Management Personnel) Rules, 2014] To, The Members 7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/LPLWHG 9, Wallace Street, Fort Mumbai – 400 001 I have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the DGKHUHQFHWRJRRGFRUSRUDWHSUDFWLFHVE\7KH%RPED\%XUPDK7UDGLQJ&RUSRUDWLRQ/LPLWHG “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, 2017 (“Audit Period”) complied with the statutory provisions listed hereunder DQGDOVRWKDWWKH&RPSDQ\KDVSURSHU%RDUGSURFHVVHVDQGFRPSOLDQFHPHFKDQLVPLQSODFHWRWKH 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; LLL 7KH'HSRVLWRULHV$FWDQGWKH5HJXODWLRQVDQG%\HODZVIUDPHGWKHUHXQGHU LY )RUHLJQ([FKDQJH0DQDJHPHQW$FWDQGWKHUXOHVDQGUHJXODWLRQVPDGHWKHUHXQGHUWR WKHH[WHQWRI)RUHLJQ'LUHFW,QYHVWPHQW2YHUVHDV'LUHFW,QYHVWPHQWDQG([WHUQDO&RPPHUFLDO %RUURZLQJV 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 QRWL¿HGZLWKHIIHFWIURP0D\  F 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ,VVXHRI&DSLWDODQG'LVFORVXUH5HTXLUHPHQWV  Regulations, 2009;  G 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 6KDUH%DVHG(PSOR\HH%HQH¿WV 5HJXODWLRQV 2014;  H 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ,VVXHDQG/LVWLQJRI'HEW6HFXULWLHV 5HJXODWLRQV 2008;  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;

54 Annual Report 2016-2017

 J 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 'HOLVWLQJRI(TXLW\6KDUHV 5HJXODWLRQV and

 K 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD %X\EDFNRI6HFXULWLHV 5HJXODWLRQV   ,KDYHDOVRH[DPLQHGFRPSOLDQFHZLWKWKHDSSOLFDEOHUHJXODWLRQVRIWKHIROORZLQJ   D  6HFUHWDULDO6WDQGDUGVLVVXHGE\7KH,QVWLWXWHRI&RPSDQ\6HFUHWDULHVRI,QGLDQRWL¿HG with effect from 1 July, 2015;

  E 7KH 6HFXULWLHV DQG ([FKDQJH %RDUG RI ,QGLD /LVWLQJ 2EOLJDWLRQV DQG 'LVFORVXUH Requirements) Regulations, 2015. During the Audit Period; the Company has complied with the provisions of the Act, Rules, 5HJXODWLRQV*XLGHOLQHV6WDQGDUGVHWFPHQWLRQHGDERYHWRWKHH[WHQWDSSOLFDEOHVXEMHFW to Managerial Remunerations paid to Mr. Ness Wadia, Managing Director of the Company IRU¿QDQFLDO\HDUVDQGKDYHEHHQEH\RQGSHUPLVVLEOHOLPLWXQGHU WKH$FWDQGLQFRQWH[WWKH&RPSDQ\LV\HWWRUHFHLYHFRQVHQWRIWKH0LQLVWU\RI&RUSRUDWH Affairs in pursuance of provisions of section 197 (3) of the Act.

  +DYLQJUHJDUGWRWKHFRPSOLDQFHV\VWHPSUHYDLOLQJLQWKH&RPSDQ\DQGRQH[DPLQDWLRQRQ the test check basis of the relevant records, I further report that the Company has complied ZLWKWKHIROORZLQJODZVDVDUHVSHFL¿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. I further report that:

  7KH %RDUG RI 'LUHFWRUV RI WKH &RPSDQ\ LV GXO\ FRQVWLWXWHG ZLWK WKH SURSHU EDODQFH RI ([HFXWLYH'LUHFWRUV 1RQ([HFXWLYH 'LUHFWRUV DQG ,QGHSHQGHQW'LUHFWRUV 7KH FKDQJHVLQ WKHFRPSRVLWLRQRIWKH%RDUGRI'LUHFWRUVWKDWWRRNSODFHGXULQJWKHSHULRGXQGHUUHYLHZ were carried out in compliance with the provisions of the Act.

  $GHTXDWHQRWLFHLVJLYHQWRDOOGLUHFWRUVWRVFKHGXOHWKH%RDUG0HHWLQJVDJHQGDDQGQRWHV RQ DJHQGD ZHUH VHQW LQ DGYDQFH DQG D V\VWHP H[LVWV IRU VHHNLQJ DQG REWDLQLQJ IXUWKHU LQIRUPDWLRQDQGFODUL¿FDWLRQVRQWKHDJHQGDLWHPVEHIRUHWKHPHHWLQJDQGIRUPHDQLQJIXO participation at the meeting.

  'XULQJ WKH $XGLW 3HULRG DOO GHFLVLRQV DW %RDUG 0HHWLQJV DQG &RPPLWWHH 0HHWLQJV ZHUH 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 GXULQJWKHDXGLWSHULRGWKH&RPSDQ\KDGQRVSHFL¿FHYHQWDFWLRQ having a major bearing on the Company’s affairs in pursuance of the above referred laws, regulations, guidelines, standards etc. (Tushar Shridharani) Place: Mumbai Practicing Company Secretary 'DWHWK0D\ )&6&23

55 The Bombay Burmah Trading Corporation, Limited

MANAGEMENT DISCUSSION AND ANALYSIS 2016-17

Division-Wise Business Analysis FY 2016-17 FY 2015-16 Plantation Business: Tea production own (A) TEA: leaf (lakh kgs) 47.80 44.96 Industry Structure and Development: Tea production bought Indian tea Crop: leaf (lakh kgs) 16.61 29.22 Total Tea production F.Y.2016-17 F.Y.2015-16 (lakh kgs) 64.41 74.18 Million Kg. Million Kg. Total Tea sales (lakh North India Tea kgs) 65.14 78.06 production 1015.22 1008.56 Total Tea turnover ( `in South India Tea lakh) 7,876 8,556 production 206.76 224.58 Average selling price TOTAL : 1221.98 1233.14 per kg. 120.90 109.60 North India Tea production was higher by Total own tea production during the year 6.66 million kgs, whereas South India Tea ended 31st March, 2017 increased by about production dropped for a second year in a row 6% over previous year. However the bought by 17.82 million kgs a decline of about 8% over leaf operation being unremunerative had to previous year. be curtailed and resulted in decline of tea produce by 13%. Thus, overall volumes of sale South Indian Tea volumes declined, particularly declined by 16.51%. However, average selling LQ WKH ODVW WZR \HDUV IROORZLQJ H[WUHPH price increased by about 10% due to higher weather patterns in form of high temperatures, realisation in domestic markets. uneven scattered rainfall and increased pest activity leading to a change in bio diversity ([SRUWV 2YHUDOO H[SRUW TXDQWLWLHV RI %%7&¶V and drought conditions. All these resulted in teas declined by 28.95%. However the price crop loss, putting pressure on productivity and UHDOL]DWLRQ ZHUH KLJKHU E\  EHQH¿WLQJ rising input costs. The companies which are IURPDKLJKHUYROXPHRI2UJDQLFWHDVH[SRUWHG only in plantation activities compared to those WKRXJKSULFHVZHUHÀDW HQJDJHG LQ EUDQGHG WHD  SDFNDJHG WHD KDYH Opportunities & Threats: been adversely impacted due to these factors. Demand for better made teas improved during Domestic consumption of tea for F.Y.2016- the year. We could tap the growing awareness 17 was around 851 million kgs compared to for Organic Teas and sale volumes of Organic PLOOLRQNJVIRU)<([SRUWIRUWKH Teas improved. Domestic market was strong year were around 223 million kgs compared resulting in increased price realisations. Our to 233 million kgs for F.Y.2015-16. Domestic capability to make good liquoring teas will help consumption has grown by about 2% whereas us to tap this growing demand from customers H[SRUWGHFOLQHGE\DERXW looking for better quality teas. This, added with Performance Highlights: EHWWHUDZDUHQHVVRIKHDOWKEHQH¿WVRI2UJDQLF teas will drive growth in the current year. Your Company has its tea plantation Estates in South India and has traditionally been a We have stepped up our sale of packaged commodity market player. lt has been facing teas under the “Oothu” and “Manjolai” brands the challenges over last three years with crops in Organic Green and black tea segment. The declining Y-o-Y and the tea business severally &RUSRUDWLRQ¶VSLRQHHULQJHIIRUWVDQGH[SHUWLVH impacted as detailed herein. in producing Organic tea will help to consolidate the Corporation’s position in major Organic market globally. Your company continues to VWULYHWRPHHWWKHVHH[SHFWDWLRQVE\H[SDQGLQJ

56 Annual Report 2016-2017 the category of teas. Further it has started Coffee prices in International as well as shifting its focus from being a commodity domestic market were caught up in a broader player to value added tea and brand building. commodity cycle with similar movements However, the production being largely observed in other agricultural commodities. dependent on the vagaries of nature, adverse Performance Highlights: climatic conditions affect the quality of tea leaves and volumes. Onslaught of pests like Tea During the year, own Coffee production was 0RVTXLWR%XJLVGLI¿FXOWWRFRQWDLQHVSHFLDOO\ 667 tones as compared to 625 tons in the in the light of prescribed usages of pesticides previous year. We had suspended bought XQGHU WKH 3ODQW 3URWHFWLRQ &RGH %HLQJ D beans operations this year as against purchase labour-intensive industry, rising input costs due of 981MT of bought beans last year. We had to wage revisions and possibility of migration to reduce our buying of coffee fruit to prevent of labour to urban areas are areas of concern. more from being offered in the less A strong rupee and good domestic demand lucrative domestic market, which would have outprices Indian teas in the international pulled down overall prices. markets. Average price per Kg. realised in last two years Outlook: are as follows: Health and wellness is taking centre stage with growing awareness for tea. Today, there is a Grade NYCE/ Corporation NYCE/ Corporation growing trend for more premium produce of LIFFEE Average LIFFEE Average Prices for Exports Prices for Exports higher quality tea with Green tea growing at a 2015-16 2016-17 USD quicker pace. The Private labels and regional 2015-16 USD 2016-17 players are growing their market shares. USD USD Washed 2Q WKH H[SRUW IURQW ZKLOVW 2UWKRGR[ LV LQ Arabica 2.92 4.85 3.02 4.44 demand following lower output from Sri Lanka, Washed a stronger rupee and larger Kenyan crop have Robusta 1.93 3.36 1.95 2.94 however made our teas less competitive. Imports to Iran moved up marginally but off- Opportunities and threats: take from CIS and Pakistan declined. ,QÀDWLRQDU\ WUHQGV LQ (XURSH ZKLFK LV D Indian consumption has been steadily growing traditionally important market for us has and share of packaged teas have further resulted in reduced trade enquiries and has improved. also put pressure on the prices. However, the Higher availability and lower demand could put acceptance of our coffee into non-traditional pressure on global prices though demand for markets like Korea has helped us to retain JRRGOLTXRULQJWHDVLVH[SHFWHGWRJURZIXUWKHU prices stability.

(B) COFFEE Offtake by new markets like South Korea, has helped us to offset recessionary pricing from Industry Structure and Developments: Europe. Continued focus on increasing sales WRUHWDLOURDVWHUVDQGH[SORULQJQRQ(XURSHDQ The global production of coffee for the year PDUNHWVLVH[SHFWHGWRNHHSRXUH[SRUWSULFHV FY 2016-2017 was 148 million bags and the stable. consumption was 151.3 million bags. As per International Coffee Organisation (ICO), the The continuous recession in commodity FRQVXPSWLRQ JUHZ DW DSSUR[  RYHU WKH markets, is an area of concern as buyers previous year. ZLOO ORRN DW SULFLQJ EDVHG RQ 1<&(/,))( indicators. Competitors are offering coffees at With total production of 5.27 million bags, India SULFHV VXEVWDQWLDOO\ ORZHU WKDQ RXUV ([SRUWV LVDQLQVLJQL¿FDQWSOD\HULQWKHJOREDOPDUNHW to nontraditional markets, like South Korea Further domestic demand is also restricted to has increased offtake of Arabica and ensured 2.25 million bags. Hence the Coffee business better prices than what could be achieved from largely depends on International markets. European markets.

57 The Bombay Burmah Trading Corporation, Limited

$UDELFD FRIIHH SURGXFWLRQ LV H[SHFWHG WR JR The industry accounts for 7.1 per cent of the XSZKHUHDV5REXVWDSURGXFWLRQLVH[SHFWHGWR country’s Gross Domestic Product (GDP). be marginally lower. These global production The Two Wheelers segment and Passenger WUHQGVZLOOKDYHDQLQÀXHQFHRQWKHSULFHV Vehicle (PV) segment contributes 81% and The lack of rainfall during last year had resulted 13% of market share, respectively. Several in poor wood formation and will have a negative $XWR2(¶V OLNH%0:+06,*HQHUDO0RWRUV  impact on this year’s crop. Cummins) and Auto components manufacturer (like KIA Motors, KSPG, INFAC, WIA Motors) White stem borer is a major threat being have started investing in various segments faced by Arabica growers across the industry. GXULQJWKH¿QDQFLDO\HDUV Vagaries of nature is another threat since the industry is dependent on nature. India plans to introduce new green urban WUDQVSRUW 86'  %LOOLRQ  DQG D EDQ RI %6 Outlook: III vehicles to reduce carbon foot prints. The We produce and market premium Coffees such *RYHUQPHQWKDVIRUPDWWHGDVFKHPH ERRVW as Washed Arabica and Robusta, in Specialty WKHLQGXVWU\RI(OHFWULF +\EULGVYHKLFOHVEXW segment. Premium Coffees are the core of our same has not been supported in the union EXVLQHVVDQGVLJQL¿HVRXUGULYHWRPRYHDZD\ budget. from commoditization. Our thrust towards Globally, the auto industry has got affected by improving quality has won number of awards RYHU  LQ 1RUWK $PHULFD  (XURSH GXH WR DQG LV UHÀHFWHG LQ EHWWHU UHDOL]DWLRQ RI WKH market saturation and OE players moving to prices. ORZFRVWFRXQWULHVOLNH&KLQD ,QGLD Retail roasters continue to need good, Performance Highlights consistent coffees in their blends and this has helped us maintain prices closer to previous ELECTROMAGS division is dependent on year’s levels and better than the international the Auto Industry especially Passenger cars, SULFHDVLVUHÀHFWHGLQWKHDERYHWDEOH Two Wheelers and Commercial vehicles. The The Corporation’s Coffee curing unit is well performance of the industry has a direct impact equipped to handle not only the in-house curing on the Division’s performance. SURFHVVLQJUHTXLUHPHQWVEXWDOVRWKH%RXJKW The segment wise share of business for the beans from small growers. This has helped the division for the FY 16-17 was as follows: Corporation to increase its overall activities and improve the price realization by catering to Segment FY 16-17 H[SRUWGLUHFWVDOHVWRXOWLPDWHFRQVXPHU Four Wheelers 79% The Corporation has also implemented Two Wheelers 9% PDQDJHPHQW DQG FRQYHUVLRQ RI WKH HIÀXHQWV at the pulp house and convert the same into ATM Parts 11% energy. Power Equipments 1% AUTO ELECTRIC COMPONENTS BUSINESS Even though the overall Auto Industry grew Industry Structure and Developments marginally during the year, the Division’s major end Customers like TATA Motors, Delphi, and The Indian Auto-Components Industry 1&5 KDG ÀDW VDOHV IRU RXU UDQJH RI SURGXFW continued to be stagnant due to the supplied during FY 16-17. The New Product unfavourable economic conditions, poor Development Projects were also adversely market sentiments led by an atmosphere impacted due to longer validation periods RI 8QFHUWDLQW\ DQG 9RODWLOLW\ &RPSOH[LW\  with OEM’s. Never the less, the Division Ambiguity (VUCA environment). released New Products worth of ` 5 Crores for production during FY 16-17.

58 Annual Report 2016-2017

Opportunities and Threats manufacturing facilities and fully automated lines and in-house testing facilities. There were Due to recent Government Policy change number of products recalls in the previous two allowing 100% FDI through Make in India effort, years, which has resulted in increased focus on more foreign OEM’s and Auto component quality by OEM’s. manufacturers are likely to set up facilities in India. High attrition and limited availability of trained manpower are major concerns for the Division. 6HJPHQW OLNH %UDNLQJ V\VWHP $%6 DQG Technology up-gradation to move from Electro $OWHUQDWRU  6WDUWHU PRWRUV DUH H[SHFWHG WR mechanical to Electronics and mutli sourcing grow with the positive growth in passenger policy by customers are the other areas of vehicle segment. The Division’s New Product concern. Development team is working towards these opportunities. HEALTHCARE BUSINESS Environmental imperatives and safety Industry Structure and Development requirements are two critical issues facing the Auto Industry worldwide. Indian Auto industry Indian dental care services sector has grown LQWKHODVWGHFDGHKDVPDGHVLJQL¿FDQWSURJUHVV at a rate of 10% over the years 2013-2016. on the environmental front by adopting The market has witnessed sizable growth stringent emission norms and is progressively on account of increasing aging population, aligning with international technical and safety improvement in oral care awareness, modern standards. The new Euro VI norms will be in healthcare infrastructure and demand of dental SODFHE\±ZLWKZKLFKVLJQL¿FDQWFKDQJHV cosmetic surgeon in the country. DUH H[SHFWHG LQ WKH $XWR (OHFWULFDOV  (QJLQH Indian dental care service industry comprises segment. of several dental care services such as The overall growth of two wheeler industries is endodontic, prosthodontic, orthodontic, H[SHFWHGWRGHFOLQHPDUJLQDOO\GXHWR%6,,,WR periodontic, dental implants, dental cosmetics %6,9HPLVVLRQQRUPFKDQJH and others. The endodontic dental service has been a predominant revenue segment in the The major areas of concern are volatility in raw dental care services market over the years. PDWHULDOFRVWVRI&RSSHU%UDVV6WHHODQG6LOYHU The companies in dental services market are and increased input and labour costs. Rapidly SULPDULO\IRFXVLQJRQLPSURYLQJWKHH[SHULHQFH changing technology and the need to introduce of dental tourists who travels across India with new models by OEM’s are making product life the basic purpose of dental treatment owing to cycles shorter and thereby rapid change in lower cost. Electronics assemblies and sensors that the division has got to focus in coming years. For a population of over 1.2 billion, there are currently over 1,80,000 dentists, which Outlook include 35,000 specialists practicing in different 7KH 'LYLVLRQ H[SHFWV WR LQFUHDVH WXUQRYHU LQ disciplines in the country. The number of FY 2017-18. The major contribution of about GHQWLVWVLVH[SHFWHGWRJURZWRE\ `&URUHVLVH[SHFWHGIURPWKH1HZ3URGXFW and the dental specialists to 50,000. Every year Developments. more than 24,500 dental graduates are added to the list. 7KH 'LYLVLRQ LV H[SORULQJ RSSRUWXQLWLHV LQ WKH non-auto segment as well. We have initiated Performance Highlight: actions in the non auto sector to de-risk our The Dental Products division has registered a share in Auto. growth rate of 6.12% over last year turnover. However the turnover of division’s key product, 7KH 4XDOLW\ H[SHFWDWLRQ E\ &XVWRPHUV LV ever increasing and is now required to alloy has declined by 6.23% compare to last be comparable to international standards year since dentists prefer more composites which need to be matched with improved than alloy for teeth restoration. At the same time the division has outperformed in other key

59 The Bombay Burmah Trading Corporation, Limited

product groups like dental impression materials Human Resources: with sales growth of 12.37% and dental X-Ray The Corporation regards human resources as ¿OPV ZLWK D JURZWK RI  FRPSDUHG WR previous year. a valuable asset. The Corporation evaluates performance of all employees on annual basis. Opportunities and Threats: Key result areas of employees have been well The dental clinic chains have grown rapidly GH¿QHG7KH&RUSRUDWLRQKDVLQLWLDWHGLQFHQWLYH in the country. An increase in the disposable VFKHPHVIRUHPSOR\HHVWRUHZDUGH[FHSWLRQDO income and a subsequent rise in per capita performance. The training needs of employees KHDOWKFDUHH[SHQGLWXUHVDPRQJVWWKHPDVVHV are periodically assessed and training programs supported by growing awareness about are conducted using internal resources and healthcare in the recent times have been the DOVRE\HQJDJLQJH[WHUQDOWUDLQHUVIDFLOLWDWRUV prime factors augmenting the growth. Cautionary Statement: Every year around 12000 new practices start in the India. There is a great demand over Statements in the Management Discussion supply of dental technician in India. Currently and Analysis describing the Corporation’s there are 5000 laboratories yet only 32 colleges objectives, projections, estimates, and offer diploma courses for the post of dental H[SHFWDWLRQV PD\ EH µIRUZDUGORRNLQJ technician. More colleges are now offering the statements’ within the meaning of applicable course to match the growing demand. securities laws and regulations. Actual results Looking at India’s rapidly growing market, many FRXOG GLIIHU PDWHULDOO\ IURP WKRVH H[SUHVVHG PXOWLQDWLRQDO FRPSDQLHV KDYH VHW XS RI¿FHV or implied. Important factors that could make in India. A large portion of dental products a difference to the Corporation’s operations DUH LPSRUWHG LQ WKH FRXQWU\ 6RPH ¿QDQFLDO LQFOXGHHFRQRPLFFRQGLWLRQVDIIHFWLQJGHPDQG investment groups are also building hospitals supply and price conditions in the domestic with dental specializations, offering general and overseas markets in which the Corporation dental care, and specialty treatment. operates, changes in the Government Outlook: UHJXODWLRQV WD[ ODZV YDJDULHV RI QDWXUH DQG other incidental factors. The division is optimistic about a good growth LQ FRPLQJ ¿QDQFLDO \HDU WKRXJK DQWLFLSDWHV no growth at all on one of the major product category like dental alloy. The division is planning to launch dental implants in FY 2017- 18 and also to add some more consumable products in the portfolio like Root Canal Sealer, &DOFLXP +\GUR[LGH 3DVWH DQG ,QWHUPHGLDWH Restorative Dental Material.

60 Annual Report 2016-2017

BUSINESS RESPONSIBILITY REPORT >XQGHU5HJXODWLRQ  I RIWKH6(%, /2'5 5HJXODWLRQV@ SECTION A : GENERAL INFORMATION ABOUT THE COMPANY

1 Corporate Identity Number (CIN) of the L99999MH1863PLC000002 Company 2 Name of the Company 7KH %RPED\ %XUPDK 7UDGLQJ &RUSRUDWLRQ Limited 3 Registered Address 9, Wallace Street, Fort, Mumbai 400001. 4 Website www.bbtcl.com 5 Email id [email protected] 6 Financial Year reported 2016-2017 7 Sector(s) that the Company is engaged in Plantations, Auto Electric Components, Healthcare 8 /LVW WKUHH NH\ SURGXFWV VHUYLFHV WKDW WKH Tea, Coffee, Auto Electric Components, &RPSDQ\PDQXIDFWXUHVSURYLGHV Dental Products 9 Total number of locations where business activity is undertaken by the Company: (a) Number of International locations (a) Two International locations: (provide details of major 5); L  8VDPEDUD *URXS 0DUYHUD  +HUNXOX (VWDWH 32%R[6RQL7DQ]DQLD (ii) Suite 628, 6th Floor, Pan Global Plaza, Jalan :RQJ$K)RRN-RKRU%DKUX0DOD\VLD (b) Number of National locations. (b) Seven National locations: details are provided under ‘General Shareholders Information’ in the Corporate Governance Report. 10 Markets served by the Company: The products of the Corporation have /RFDO6WDWH1DWLRQDO,QWHUQDWLRQDO national and international presence. SECTION B : FINANCIAL DETAILS OF THE COMPANY

1 Paid up Capital (INR) ` 1,396.27 lakhs 2 Total Turnover (INR) ` 31,853 lakhs 3 7RWDO3UR¿W /RVV DIWHUWD[HV ,15 ` (320 lakhs) 4 Total spending on Corporate Social ` 13.74 lakhs; Percentage Nil in view of 5HVSRQVLELOLW\ DVSHUFHQWDJHRISUR¿WDIWHU substantial loss. WD[  5 /LVW RI DFWLYLWLHV LQ ZKLFK H[SHQGLWXUH LQ  (a) Maintenance of Roads through the Estates above has been incurred. at Mudis, Dunsandle and Singampatti for public use; (b) Maintenance of residential quarters and water supply to these quarters used by Government authorities on the plantations; (c) Repairs and maintenance of school buildings owned by the Corporation and used by general public.

61 The Bombay Burmah Trading Corporation, Limited

SECTION C : OTHER DETAILS

1 'RHV WKH &RPSDQ\ KDYH VXEVLGLDU\ Yes; the list of subsidiaries is provided in subsidiaries Form MGT 9 forming part of Directors’ 5HSRUWDV$QQH[XUH( 2 Do the subsidiary companies participate in 1RWKHVXEVLGLDULHVXQGHUWDNHWKHLURZQ%5 WKH%XVLQHVV5HVSRQVLELOLW\LQLWLDWLYHVRIWKH initiatives as applicable and appropriate. parent Company? If yes, then indicate the number of such subsidiary companies 3 'R DQ\ RWKHU HQWLW\ HQWLWLHV HJ VXSSOLHUV Corporation engages with its stakeholders distributors etc.) that the company does WKURXJKLWV%5LQLWLDWLYHVDVDSSURSULDWH EXVLQHVV ZLWK SDUWLFLSDWH LQ WKH %XVLQHVV Responsibility activities of the Company? If yes, then indicate the percentage of such HQWLW\ HQWLWLHV >OHVV WKDQ   more than 60%] SECTION D: BR INFORMATION

1 D  'HWDLOVRI'LUHFWRU'LUHFWRUVUHVSRQVLEOH Mr. Ness Wadia IRU%XVLQHVV5HVSRQVLELOLW\ DIN : 00036049 Designation: Managing Director 2 E 'HWDLOV RI WKH %XVLQHVV 5HVSRQVLELOLW\ Name : Mr. Amit Chhabra Head 'HVLJQDWLRQ&KLHI)LQDQFLDO2I¿FHU Telephone No.: 22197101 Email id : [email protected]

2. Principle-wise (as per NVGs) BR Policy/ Policies The National Voluntary Guidelines (NVGs) on Social, Environmental and Economic 5HVSRQVLELOLWLHV RI %XVLQHVV UHOHDVHG E\ WKH 0LQLVWU\ RI &RUSRUDWH $IIDLUV KDV DGRSWHG QLQH DUHDVRI%XVLQHVV5HVSRQVLELOLW\7KHVHDUH  3 %XVLQHVVHV VKRXOG FRQGXFW DQG JRYHUQ WKHPVHOYHV ZLWK (WKLFV 7UDQVSDUHQF\ DQG Accountability.

 3 %XVLQHVVHVVKRXOGSURYLGHJRRGVDQGVHUYLFHVWKDWDUHVDIHDQGFRQWULEXWHWRVXVWDLQDELOLW\ throughout their life cycle.

 3 %XVLQHVVHVVKRXOGSURPRWHWKHZHOOEHLQJRIDOOHPSOR\HHV

 3 %XVLQHVVHVVKRXOGUHVSHFWWKHLQWHUHVWVRIDQGEHUHVSRQVLYHWRZDUGVDOOVWDNHKROGHUV especially those who are disadvantaged, vulnerable and marginalized.

 3 %XVLQHVVHVVKRXOGUHVSHFWDQGSURPRWHKXPDQULJKWV

 3 %XVLQHVVHVVKRXOGUHVSHFWSURWHFWDQGPDNHHIIRUWVWRUHVWRUHWKHHQYLURQPHQW

 3 %XVLQHVVHVZKHQHQJDJHGLQLQÀXHQFLQJSXEOLFDQGUHJXODWRU\SROLF\VKRXOGGRVRLQD responsible manner.

 3 %XVLQHVVHVVKRXOGVXSSRUWLQFOXVLYHJURZWKDQGHTXLWDEOHGHYHORSPHQW

 3 %XVLQHVVHVVKRXOGHQJDJHZLWKDQGSURYLGHYDOXHWRWKHLUFXVWRPHUVDQGFRQVXPHUVLQ a responsible manner.

62 Annual Report 2016-2017

(a) Details of Compliances (Reply in Y/N)

Sr. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9 No.

1 Do you have policies for Y Y Y Y Y Y Y Y Y

2 Has the policy being formulated in Yes consultation with the relevant stakeholders?

3 Does the policy conform to any national The policies conform to National and  LQWHUQDWLRQDO VWDQGDUGV" ,I \HV VSHFLI\" International standards as applicable. (50 words)

4 +DVWKHSROLF\EHLQJDSSURYHGE\WKH%RDUG" Policies mandated under the Companies Act, ,V \HV KDV LW EHHQ VLJQHG E\ 0' RZQHU DQG6(%, /2'5 5HJXODWLRQVDUH &(2DSSURSULDWH%RDUG'LUHFWRU" DSSURYHG E\ WKH %RDUG DQG RWKHU SROLFLHV are approved by the Managing Director or %XVLQHVV+HDGVRIWKHYDULRXV'LYLVLRQV

5 'RHV WKH &RPSDQ\ KDYH D VSHFL¿HG The Corporation has Ethics Committee, FRPPLWWHHRIWKH%RDUG'LUHFWRU2I¿FLDOWR Committee, Audit Committee, Complaints oversee the implementation of the policy? Committee and also adequate internal control systems to oversee the implementation of policies.

6 Indicate the link for the policy to be viewed The links to view the policies online are online? given herein below.

7 Has the policy been formally communicated Yes, wherever applicable. WR DOO UHOHYDQW LQWHUQDO DQG H[WHUQDO stakeholders?

8 Does the company have in-house structure Yes WRLPSOHPHQWWKHSROLF\SROLFLHV

9 Does the Company have a grievance Yes, wherever appropriate. UHGUHVVDO PHFKDQLVP UHODWHG WR WKH SROLF\ policies to address stakeholders’ grievances UHODWHGWRWKHSROLF\SROLFLHV"

10 Has the company carried out independent Yes, wherever appropriate. DXGLWHYDOXDWLRQRIWKHZRUNLQJRIWKLVSROLF\ E\DQLQWHUQDORUH[WHUQDODJHQF\"

63 The Bombay Burmah Trading Corporation, Limited

Links to the Corporation’s Policies: ‡ :DGLD&RGHRI&RQGXFW KWWSEEWFOFRPZDGLDFRGHRIHWKLFVDQGEXVLQHVVSULQFLSOHV ‡ &RUSRUDWH6RFLDO5HVSRQVLELOLW\3ROLF\ KWWSEEWFOFRPFRUSRUDWHVRFLDOUHVSRQVLELOLW\ ‡ :KLVWOH%ORZHU3ROLF\ KWWSEEWFOFRPZKLVWOHEORZHUSROLF\ (b) If answer to the question at serial no. 1 against any principle is ‘No’, please explain why: (tick upto 3 options)

Sr. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9 No. 1 The company has not understood the Principles 2 7KHFRPSDQ\LVQRWDWDVWDJHZKHUHLW¿QGV itself in a position to formulate and implement WKHSROLFLHVRQVSHFL¿HGSULQFLSOHV 3 7KH FRPSDQ\ GRHV QRW KDYH ¿QDQFLDO RU Not Applicable manpower resources available for the task 4 ,WLVSODQQHGWREHGRQHZLWKLQQH[WPRQWKV 5 ,WLVSODQQHGWREHGRQHZLWKLQWKHQH[W\HDU 6 Any other reason (please specify) 3. Governance related to Business Responsibility (BR) (a) Indicate the frequency with which the Board of Directors, Committee of the Board or CEO to assess the BR performance of the Company. Within 3 months, 3-6 months, Annually, more than 1 year :   7KH%5SHUIRUPDQFHLVDVVHVVHGDQQXDOO\ (b) Does the Company publish a BR or a Sustainability Report? What is the hyperlink for viewing this report? How frequently it is published?   7KH%5LVSXEOLVKHGLQ$QQXDO5HSRUWDQGGLVFORVHGRQWKHZHEVLWHRIWKH&RUSRUDWLRQZZZ bbtcl.com. SECTION E : PRINCIPLE-WISE PERFORMANCE Principle 1: Businesses should conduct and govern themselves with Ethics, Transparency and Accountability 1. Does the policy relating to ethics, bribery and corruption cover only the company? Yes/No. Does it extend to the Group/Joint Ventures/ Suppliers/Contractors/NGOs/Others? The Corporation abides by the Wadia Group Code of Conduct which strives for transparency and fairness in all business dealings. Good Corporate Governance has been an integral part of the running of businesses within the Wadia Group much before it became legally enforceable.

64 Annual Report 2016-2017

The Wadia Code of Conduct outlines the principles, policies and laws that govern the activities of the Corporation and which the employees of the Corporation must adhere to. The Code is circulated to all employees and Directors and others associated with the business of the Company and offers guidance for professional conduct.  $QQXDODI¿UPDWLRQVDUHWDNHQIURPDOO'LUHFWRUV%XVLQHVV+HDGV.H\0DQDJHULDO3HUVRQQHODQG senior employees.  )XUWKHU WKH &RUSRUDWLRQ KDV DGRSWHG WKH :KLVWOH %ORZHU 3ROLF\ WR SURYLGH D PHFKDQLVP IRU employees and Directors to approach the Ethics Committee or Chairman of the Audit Committee IRUUHSRUWLQJJHQXLQHFRQFHUQV7KH&RGHRI%XVLQHVV&RQGXFWDQG:KLVWOH%ORZHU3ROLF\SURYLGH a platform for reporting unethical behavior, fraud and actual or potential violation of the Code.  7KH&RUSRUDWLRQDOVRKDVLQSODFH$QWL6H[XDO+DUDVVPHQW3ROLF\WRPDLQWDLQDZRUNHQYLURQPHQW free from any form of discrimination or conduct which can be considered as harassing, coercive or disruptive.  7KH&RGHRI&RQGXFWIRU6XSSOLHUVRXWOLQHVWKHSROLFLHVIRUVXSSOLHUVWRIROORZ$QDI¿UPDWLRQLV obtained from the Supplier during commencement of business relations in the Plantations.  +RZPDQ\VWDNHKROGHUFRPSODLQWVKDYHEHHQUHFHLYHGLQWKHSDVW¿QDQFLDO\HDUDQGZKDW percentage was satisfactorily resolved by the management? If so, provide details thereof, in about 50 words or so.  'XULQJWKHSDVW¿QDQFLDO\HDUQRFRPSODLQWZDVUHFHLYHGIURPDQ\VWDNHKROGHUXQGHUWKH&RGH of Conduct. Principle 2 : Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle. 1. List up to 3 of your products or services whose design has incorporated social or environmental concerns, risks and/or opportunities: The Corporation is into Tea and Coffee Plantations spread over four groups of Estates in Tamil Nadu DQG.DUQDWDND7KH&RUSRUDWLRQLVFHUWL¿HGXQGHUWKHLQWHUQDWLRQDOFRGHVRI)DLUWUDGH5DLQIRUHVW Alliance, UTZ and Organic norms which ensure that environmental and social concerns are taken FDUHRI)66$,OLFHQVHVIRUIDFWRULHVKDYHEHHQREWDLQHG7UXVWHDFHUWL¿FDWLRQKDVEHHQREWDLQHG which evaluates the social, economic, agronomical, environmental performance of Indian Tea estates. 2. For each such product, provide the following details in respect of resource use (energy, water, raw material etc.) per unit of product (optional):  D  5HGXFWLRQ GXULQJ VRXUFLQJSURGXFWLRQ GLVWULEXWLRQ DFKLHYHG VLQFH WKH SUHYLRXV \HDU throughout the value chain? (b) Reduction during usage by consumers (energy, water) has been achieved since the previous year? 7KH&RUSRUDWLRQKDVVHWXSD%LR0HWKDQLVDWLRQDQG:DWHUWUHDWPHQW3ODQWDWLWV&RIIHH(VWDWHV DW (ONKLOO DW &RRUJ .DUQDWDND 7KH 3ODQW QRW RQO\ WUHDWV WKH HIÀXHQW ZDWHU DQG PDNHV LW JRRG for consumption but also uses coffee mucilage as feedstock for producing bio-gas which has HQDEOHGUHGXFWLRQLQXVDJHRIHOHFWULFLW\DQG¿UHZRRG:LQGPLOOVLQWKHZLQGEHOWRI7DPLOQDGX offset a percentage of the energy requirements of the tea factories. Rainwater harvesting tanks have been installed at Mudis and Elkhill Estates which harness water for irrigation purpose. . The 3ODQW3URWHFWLRQ&RGHKDVVWLSXODWHGE\WKH7HD%RDUGLVIROORZHGVWULFWO\IRUVDIHXVDJHRISODQW protection products and adherence to safety standards for production of safer, healthier and more environmentally friendly teas. 3. Does the Company have procedures in place for sustainable sourcing (including transportation)? Yes.

65 The Bombay Burmah Trading Corporation, Limited

4. Has the company taken any steps to procure goods and services from local & small producers, including communities surrounding their place of work? The Corporation procures tea leaves (bought leaf operations) and outsourced coffee beans from small and local producers there by providing them a ready market for their produce and also improving their capacities and capabilities. 5. Does the company have a mechanism to recycle products and waste? If yes what is the percentage of recycling of products and waste (separately as <5%, 5-10%, >10%). Also, provide details thereof, in about 50 words or so.  7KH&RUSRUDWLRQKDVVHWXSWKH%LRJDV3ODQWDW(ONKLOO(VWDWHV&RRUJ.DUQDWDNDZKLFKUHF\FOHV waste water and coffee mucilage from the coffee processing plant to produce potable water and bio-gas. During the year, segregated domestic plastic waste was recycled into plastic piping in a pilot project at Mudis Group of Estates. Principle 3: Businesses should promote the well being of all employees. 7KH&RUSRUDWLRQEHOLHYHVWKDWLWLVWKHNQRZOHGJHH[SHUWLVHDQGSDVVLRQRILWVHPSOR\HHVWKDWSXWV any Company in the growth trajectory. Towards this objective, the Corporation provides a work environment that is free from any discrimination or harassment, promotes individual and collective growth and has adopted various policies, procedures and manuals for the protection and welfare of its employees. The Corporation is a Fairtrade Producer thereby ensuring optimum wages and safe working environment. 1. Total number of employees : 5607 7RWDOQXPEHURIHPSOR\HHVKLUHGRQWHPSRUDU\FRQWUDFWXDOFDVXDOEDVLV 3. Number of permanent women employees : 2507 4. Number of permanent employees with disabilities: 2 5. Do you have an employee association that is recognized by management : Yes, at the Plantations Division. 6. What percentage of your permanent employees is members of this recognized employee association : 57.80% 1XPEHURIFRPSODLQWVUHODWLQJWRFKLOGODERXUIRUFHGODERXULQYROXQWDU\ODERXUVH[XDO KDUDVVPHQWLQWKHODVW¿QDQFLDO\HDUDQGSHQGLQJDVRQWKHHQGRIWKH¿QDQFLDO\HDU1LO :KDWSHUFHQWDJHRI\RXUXQGHUPHQWLRQHGHPSOR\HHVZHUHJLYHQVDIHW\ VNLOOXSJUDGDWLRQ training in the last year? (a) Permanent Employees : 95% (b) Permanent Women Employees : 98%  F  &DVXDO7HPSRUDU\&RQWUDFWXDO(PSOR\HHV (d) Employees with Disabilities : 100% Principle 4 : Businesses should respect the interests of and be responsive towards all stakeholders, HVSHFLDOO\WKRVHZKRDUHGLVDGYDQWDJHGYXOQHUDEOHDQGPDUJLQDOL]HG 7KH&RUSRUDWLRQDLPVWRPHHWWKHH[SHFWDWLRQVRIDOOLWVVWDNHKROGHUVWKDWLQFOXGHVKDUHKROGHUV consumers, employees, farmers and various service providers. The Corporation understands the QHHGVRILWVVWDNHKROGHUVDQGGHYHORSVWKHDFWLRQSODQVWRIXO¿OWKHPZKLOHDFKLHYLQJLWVEXVLQHVV goals.

66 Annual Report 2016-2017

The Corporation also has in place an investor grievance redressal system, Ethics Committee which ensures the protection of interests of the shareholders and employees. The website of the &RUSRUDWLRQFRQWDLQVGHWDLOVRILWVSURGXFWVEXVLQHVV¿QDQFLDOLQIRUPDWLRQDQGRWKHUVWDWXWRU\ disclosures. 1. Has the company mapped its internal and external stakeholders? Yes

 2XWRIWKHDERYHKDVWKHFRPSDQ\LGHQWL¿HGWKHGLVDGYDQWDJHGYXOQHUDEOH PDUJLQDOL]HG stakeholders:

Yes, the Corporation is committed to engaging with all its employees, business associates, customers and communities who may be disadvantaged, vulnerable or marginalized.

3. Are there any special initiatives taken by the company to engage with the disadvantaged, YXOQHUDEOHDQGPDUJLQDOL]HGVWDNHKROGHUV,IVRSURYLGHGHWDLOVWKHUHRILQDERXWZRUGVRU so.

 7KH &RUSRUDWLRQ KDV IRXQGHG WKH %RPED\ %XUPDK 3ODQWDWLRQ :HOIDUH 7UXVW WR SURYLGH education, medical care, pension, provision and maintenance of public utilities and to generally work towards the upliftment and promotion of welfare of past and present employees of the Plantations Division and the general public at the Estates.

Principle 5 : Businesses should respect and promote human rights.

The Corporation’s approach to uphold and promote Human Rights is underlined by the Code RI %XVLQHVV &RQGXFW :KLVWOH %ORZHU 3ROLF\$QWLVH[XDO KDUDVVPHQW 3ROLF\ DQG D KRVW RI RWKHU employee- welfare policies. 1. Does the policy of the company on human rights cover only the company or extend to the Group/Joint Ventures/Suppliers/Contractors/NGOs/Others?

 &RGH RI %XVLQHVV &RQGXFW H[WHQGV WR HPSOR\HHV DQG RWKHU ZKR ZRUN ZLWK RU UHSUHVHQW WKH &RUSRUDWLRQ GLUHFWO\ RU LQGLUHFWO\7KH $QWL 6H[XDO KDUDVVPHQW SROLF\ LV DSSOLFDEOH WR DOO employees including contractual employees, trainees, consultants etc.

The Corporation is a Fairtrade Producer and the Fairtrade premium received by it goes into a community fund for workers and farmers to improve their social, economic and environmental conditions.

 +RZPDQ\VWDNHKROGHUFRPSODLQWVKDYHEHHQUHFHLYHGLQWKHSDVW¿QDQFLDO\HDUDQGZKDW percent was satisfactorily resolved by the management?

During the year, the Corporation has not received any complaint with respect to violation of human rights.

Principle 6 : Businesses should respect, protect and make efforts to restore the environment.

The Corporation understands its responsibility towards environment and has taken various steps to UHGXFHHQHUJ\FRQVXPSWLRQDVZHOODVLPSURYLQJHQHUJ\HI¿FLHQF\DQGFRQVHUYDWLRQ

'HWDLOVDUHSURYLGHGLQWKH$QQH[XUH$WRWKH'LUHFWRUV¶5HSRUW 1. Does the policy related to Principle 6 cover only the company or extends to the Group/Joint Ventures/ Suppliers/Contractors/NGOs/others:

The Corporation adheres to all statutory compliances with respect to Environment, Health and Safety requirements.

67 The Bombay Burmah Trading Corporation, Limited

2. Does the company have strategies/ initiatives to address global environmental issues such as climate change, global warming, etc? Y/N. If yes, please give hyperlink for webpage etc.  ,QLWLDWLYHVWDNHQE\WKH&RUSRUDWLRQLQFOXGH5DLQZDWHUKDUYHVWLQJFRQYHUVLRQRIHIÀXHQWVLQWR bio-methane gas and recycling of waste water from coffee processing plant. 3. Does the company identify and assess potential environmental risks? Sustainable development is at the core of the Corporation’s operations which is also outlined in the Environment, Health and Safety Practices. The Corporation follows sound environmental management practices across all its manufacturing units to assess and address potential environmental risks. 4. Does the company have any project related to Clean Development Mechanism? If so, provide details thereof, in about 50 words or so. Also, if Yes, whether any environmental compliance UHSRUWLV¿OHG"  7KH3ODQWDWLRQV'LYLVLRQRIWKH&RUSRUDWLRQZLWK7HD &RIIHH(VWDWHEDVHGLQ7DPLO1DGXDQG .DUQDWDNDLVDFDUERQVLQNZLWKDWZRVWRULHGFDQRS\RIWUHHVLQ&RIIHHZKLFKLVH[WUHPHO\ELUG IULHQGO\DQGVXSSRUWVDYDULHW\RIÀRUDDQGIDXQD As part of Clean Development Mechanism, the Corporation provides the workforce at Mudis and (OOKLOO(VWDWHVZLWKKLJKHI¿FLHQF\VPRNHOHVVVWRYHVWRUHSODFHFRRNLQJVWRYHVXVLQJZRRG¿UH  7KH%LR0HWKDQDWLRQSODQWDWWKH&RIIHH(VWDWHVFRQYHUWVHIÀXHQWVLQWRELRPHWKDQHJDVZKLFK replaces use of Liquid Petroleum Gas. Energy produced by the windmills installed by the Corporation is used to set off 60% of the electricity costs for tea production. The Workers in Tea estates have been provided portable LED Lanterns to conserve energy by reducing consumption of electricity in labour units. 5. +DVWKHFRPSDQ\XQGHUWDNHQDQ\RWKHULQLWLDWLYHVRQ±FOHDQWHFKQRORJ\HQHUJ\HI¿FLHQF\ renewable energy, etc. Y/N. If yes, please give hyperlink for web page etc.  3OHDVHUHIHU$QQH[XUH$WRWKH'LUHFWRUV¶5HSRUW 6. Are the Emissions/Waste generated by the company within the permissible limits given by &3&%63&%IRUWKH¿QDQFLDO\HDUEHLQJUHSRUWHG" As per the Corporation’s monitoring and measurement, all applicable statutory requirements ZLWKUHVSHFWWRHPLVVLRQVZDVWHDUHFRPSOLHGZLWK 7. Number of show cause/ legal notices received from CPCB/SPCB which are pending (i.e. not resolved to satisfaction) as on end of Financial Year.  7KH &RUSRUDWLRQ GLG QRW UHFHLYH DQ\ VKRZ FDXVH OHJDO QRWLFHV IURP &3&%63&% ZKLFK DUH pending as on end of the Financial Year 2016-17. 3ULQFLSOH%XVLQHVVHVZKHQHQJDJHGLQLQÀXHQFLQJSXEOLFDQGUHJXODWRU\SROLF\VKRXOGGRVR in a responsible manner. 1. Is your company a member of any trade and chamber or association? If Yes, Name only those major ones that your business deals with:

68 Annual Report 2016-2017

and Administration, Economic Reforms, Inclusive Development Policies, Energy security, Water, Food Security, Sustainable Business Principles, Others): The Corporation is actively represented in organisations like UPASI (United Planters’ Association of South India). However, the Corporation prefers to be part of the broader policy development SURFHVVDQGGRHVQRWSUDFWLFHOREE\LQJRQDQ\VSHFL¿FLVVXH Principle 8 : Businesses should support inclusive growth and equitable development. The Corporation supports the principle of inclusive growth and equitable development through its core business activities and through its initatives.  'RHV WKH FRPSDQ\ KDYH VSHFL¿HG SURJUDPPHVLQLWLDWLYHVSURMHFWVLQ SXUVXLW RI WKH SROLF\ related to Principle 8? If yes details thereof. initiatives are part of the business process of the Corporation. Details of initiatives are provided LQ$QQH[XUH%WRWKH'LUHFWRUV¶5HSRUW 2. Are the programmes/projects undertaken through in-house team/own foundation/external 1*2JRYHUQPHQWVWUXFWXUHVDQ\RWKHURUJDQL]DWLRQ" The initiatives are undertaken through in-house team. 3 Have you done any impact assessment of your initiative? The activities are placed before the Committee for its review and assessment. 4. What is your company’s direct contribution to community development projects- Amount in INR and the details of the projects undertaken? ` ODNKVLQ)<GHWDLOVDUHSURYLGHGLQ$QQH[XUH%WRWKH'LUHFWRUV¶5HSRUW 5. Have you taken steps to ensure that this community development initiative is successfully adopted by the community? Please explain in 50 words, or so.  7KH&RUSRUDWLRQ¶VDFWLYLWLHVDUHRIRQJRLQJQDWXUHDQGKHQFHDUHFRQWLQXRXVO\EHQH¿WLQJWKH community at large. Principle 9 : Businesses should engage with and provide value to their customers and consumers in a responsible manner 1. What percentage of customer complaints/consumer cases are pending as on the end of ¿QDQFLDO\HDU The Corporation has resolved all customer complaints received during the year 2016-2017. 2. Does the company display product information on the product label, over and above what is mandated as per local laws?  7KH&RUSRUDWLRQGLVSOD\VSURGXFWUHODWHGLQIRUPDWLRQWKDWLVUHTXLUHGDVSHUH[WDQWODZV  ,V WKHUH DQ\ FDVH ¿OHG E\ DQ\ VWDNHKROGHU DJDLQVW WKH FRPSDQ\ UHJDUGLQJ XQIDLU WUDGH SUDFWLFHV LUUHVSRQVLEOH DGYHUWLVLQJ DQGRU DQWLFRPSHWLWLYH EHKDYLRXU GXULQJ WKH ODVW ¿YH \HDUVDQGSHQGLQJDVRQHQGRI¿QDQFLDO\HDU,IVRSURYLGHGHWDLOVWKHUHRILQDERXWZRUGV or so. None. 4. Did your company carry out any consumer survey/ consumer satisfaction trends? The Corporation carries out customer satisfaction surveys periodically and the results are shared with the relevant stakeholders to take necessary action.

69 The Bombay Burmah Trading Corporation, Limited

INDEPENDENT AUDITORS’ REPORT

To the Members of The Bombay Burmah Trading Corporation, Limited Report on the Standalone Ind AS Financial Statements :HKDYHDXGLWHGWKHDFFRPSDQ\LQJ6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWVRI7KH%RPED\%XUPDK7UDGLQJ &RUSRUDWLRQ/LPLWHG ³WKH&RPSDQ\´ ZKLFKFRPSULVHWKH%DODQFH6KHHWDVDW0DUFKWKH6WDWHPHQW RI3UR¿WDQG/RVV LQFOXGLQJ2WKHU&RPSUHKHQVLYH,QFRPH WKH&DVK)ORZ6WDWHPHQWDQGWKH6WDWHPHQWRI &KDQJHVLQ(TXLW\IRUWKH\HDUWKHQHQGHGDQGDVXPPDU\RIWKHVLJQL¿FDQWDFFRXQWLQJSROLFLHVDQGRWKHU H[SODQDWRU\LQIRUPDWLRQ KHUHLQDIWHUUHIHUUHGWRDV³6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWV´ LQZKLFKDUH LQFRUSRUDWHGWKH5HWXUQVIRUWKH\HDUHQGHGRQWKDWGDWHDXGLWHGE\WKHEUDQFKDXGLWRUVRIWKH&RPSDQ\¶V EUDQFKHVDW-RKRU%DKUXLQ0DOD\VLDDQG8VDPEDUDLQ7DQ]DQLD Management’s Responsibility for the Standalone Ind AS Financial Statements 7KH&RPSDQ\¶V%RDUGRI'LUHFWRUVLVUHVSRQVLEOHIRUWKHPDWWHUVVWDWHGLQ6HFWLRQ  RIWKH&RPSDQLHV $FW ³WKH$FW´ ZLWKUHVSHFWWRWKHSUHSDUDWLRQRIWKHVH6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWVWKDWJLYHD WUXHDQGIDLUYLHZRIWKH¿QDQFLDOSRVLWLRQ¿QDQFLDOSHUIRUPDQFHLQFOXGLQJRWKHUFRPSUHKHQVLYHLQFRPHFDVK À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¿QDQFLDO FRQWUROVWKDWZHUHRSHUDWLQJHIIHFWLYHO\IRUHQVXULQJWKHDFFXUDF\DQGFRPSOHWHQHVVRIWKHDFFRXQWLQJUHFRUGV UHOHYDQWWRWKHSUHSDUDWLRQDQGSUHVHQWDWLRQRIWKH6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWVWKDWJLYHDWUXHDQG IDLUYLHZDQGDUHIUHHIURPPDWHULDOPLVVWDWHPHQWZKHWKHUGXHWRIUDXGRUHUURU Auditors’ Responsibility 2XUUHVSRQVLELOLW\LVWRH[SUHVVDQRSLQLRQRQWKHVH6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWVEDVHGRQRXUDXGLW :HKDYHWDNHQLQWRDFFRXQWWKHSURYLVLRQVRIWKH$FWWKHDFFRXQWLQJDQGDXGLWLQJVWDQGDUGVDQGPDWWHUVZKLFK DUHUHTXLUHGWREHLQFOXGHGLQWKHDXGLWUHSRUWXQGHUWKHSURYLVLRQVRIWKH$FWDQGWKH5XOHVPDGHWKHUHXQGHU :HFRQGXFWHGRXUDXGLWRIWKH6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWVLQDFFRUGDQFHZLWKWKH6WDQGDUGVRQ $XGLWLQJ VSHFL¿HG XQGHU 6HFWLRQ    RI WKH $FW 7KRVH 6WDQGDUGV UHTXLUH WKDW ZH FRPSO\ ZLWK HWKLFDO UHTXLUHPHQWV DQG SODQ DQG SHUIRUP WKH DXGLW WR REWDLQ UHDVRQDEOH DVVXUDQFH DERXW ZKHWKHU WKH ¿QDQFLDO VWDWHPHQWV DUH IUHH IURP PDWHULDO PLVVWDWHPHQW $Q DXGLW LQYROYHV SHUIRUPLQJ SURFHGXUHV WR REWDLQ DXGLW HYLGHQFHDERXWWKHDPRXQWVDQGWKHGLVFORVXUHVLQWKH6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWV7KHSURFHGXUHV VHOHFWHGGHSHQGRQWKHDXGLWRU¶VMXGJPHQWLQFOXGLQJWKHDVVHVVPHQWRIWKHULVNVRIPDWHULDOPLVVWDWHPHQWRI WKH6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWVZKHWKHUGXHWRIUDXGRUHUURU,QPDNLQJWKRVHULVNDVVHVVPHQWV WKHDXGLWRUFRQVLGHUVLQWHUQDO¿QDQFLDOFRQWUROUHOHYDQWWRWKH&RPSDQ\¶VSUHSDUDWLRQRIWKH6WDQGDORQH,QG$6 ¿QDQFLDOVWDWHPHQWVWKDWJLYHDWUXHDQGIDLUYLHZLQRUGHUWRGHVLJQDXGLWSURFHGXUHVWKDWDUHDSSURSULDWHLQWKH FLUFXPVWDQFHV$QDXGLWDOVRLQFOXGHVHYDOXDWLQJWKHDSSURSULDWHQHVVRIWKHDFFRXQWLQJSROLFLHVXVHGDQGWKH UHDVRQDEOHQHVVRIWKHDFFRXQWLQJHVWLPDWHVPDGHE\WKH&RPSDQ\¶V'LUHFWRUVDVZHOODVHYDOXDWLQJWKHRYHUDOO SUHVHQWDWLRQRIWKH6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWV :HEHOLHYHWKDWWKHDXGLWHYLGHQFHZHKDYHREWDLQHGLVVXI¿FLHQWDQGDSSURSULDWHWRSURYLGHDEDVLVIRURXUDXGLW RSLQLRQRQWKH6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWV Opinion ,QRXURSLQLRQDQGWRWKHEHVWRIRXULQIRUPDWLRQDQGDFFRUGLQJWRWKHH[SODQDWLRQVJLYHQWRXVWKHDIRUHVDLG 6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWVJLYHWKHLQIRUPDWLRQUHTXLUHGE\WKH$FWLQWKHPDQQHUVRUHTXLUHGDQG JLYHDWUXHDQGIDLUYLHZLQFRQIRUPLW\ZLWKWKHDFFRXQWLQJSULQFLSOHVJHQHUDOO\DFFHSWHGLQ,QGLDLQFOXGLQJWKH ,QG$6RIWKH¿QDQFLDOSRVLWLRQRIWKH&RPSDQ\DVDW0DUFKLWV¿QDQFLDOSHUIRUPDQFHLQFOXGLQJRWKHU FRPSUHKHQVLYHLQFRPHLWVFDVKÀRZVDQGWKHFKDQJHVLQHTXLW\IRUWKH\HDUHQGHGRQWKDWGDWH Emphasis of Matters :HGUDZDWWHQWLRQWR1RWHRIWKH6WDQGDORQH,QG$6¿QDQFLDOVWDWHPHQWVZKLFKGHVFULEHVWKHIROORZLQJ PDWWHUV D  ,QUHVSHFWRIPDQDJHULDOUHPXQHUDWLRQDPRXQWLQJWR`/DNKVIRUWKH\HDUHQGHG0DUFKWKH &RPSDQ\KDVPDGHDQDSSOLFDWLRQWRWKH&HQWUDO*RYHUQPHQWSXUVXDQWWRWKHSURYLVLRQVRI6HFWLRQ UHDGZLWK6FKHGXOH9RIWKH$FWZKLFKLVSHQGLQJDSSURYDO E  ,QUHVSHFWRIPDQDJHULDOUHPXQHUDWLRQDPRXQWLQJWR`/DNKVIRUWKH\HDUHQGHG0DUFKWKH

70 Annual Report 2016-2017

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 The Bombay Burmah Trading Corporation, Limited

ANNEXURE A TO THE INDEPENDENT AUDITORS’ REPORT – 31ST MARCH, 2017 (Referred to in our report of even date)

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ANNEXURE B TO THE INDEPENDENT AUDITORS’ REPORT OF EVEN DATE ON THE STANDALONE IND AS FINANCIAL STATEMENTS OF THE BOMBAY BURMAH TRADING CORPORATION, LIMITED – 31ST MARCH, 2017

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Act

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BALANCE SHEET AS AT 31ST MARCH, 2017

`LQ/DNKV Note As at As at As at 31st March, 2017 31st March, 2016 1st April, 2015 A ASSETS NON-CURRENT ASSETS 3URSHUW\SODQWDQGHTXLSPHQW 2 (a) 11,311 11,580 11,078 &DSLWDOZRUNLQSURJUHVV 2 (a) 314 76 92 ,QYHVWPHQWSURSHUW\ 2 (b) 15 15 16 2WKHU,QWDQJLEOHDVVHWV 2 (c) 42 44 26 ,QYHVWPHQWLQVXEVLGLDULHVDQGDVVRFLDWHV 3 27,102 6,658 6,659 )LQDQFLDO$VVHWV L  ,QYHVWPHQWV 4 (a) 314 14,261 19,086 LL  /RDQV 5 95 96 140 LLL  2WKHU¿QDQFLDODVVHWV 6 582 174 524 'HIHUUHGWD[DVVHWV QHW 7 415 415 467 &XUUHQWWD[DVVHWV 8 (a) 502 374 596 2WKHUQRQFXUUHQWDVVHWV 8 (b) 253 370 267 Total non-current assets 40,945 34,063 38,951

CURRENT ASSETS ,QYHQWRULHV 9 (a) 6,079 9,262 9,910 %LRORJLFDODVVHWVRWKHUWKDQEHDUHUSODQWV 9 (b) 229 159 114 )LQDQFLDODVVHWV L  ,QYHVWPHQWV 4 (b) 1,314 - - LL  7UDGHUHFHLYDEOHV 10 3,519 4,328 4,903 LLL  &DVKDQGFDVKHTXLYDOHQWV 11 (a) 2,721 509 5,334 LY  %DQNEDODQFHVRWKHUWKDQ LLL DERYH 11 (b) 109 101 94 Y  /RDQV 12 14,451 15,420 15,172 YL  'HULYDWLYHDVVHWV 13 - 115 51 YLL 2WKHU¿QDQFLDODVVHWV 14 106 73 1,598 2WKHUFXUUHQWDVVHWV 15 1,272 981 966 Total current assets 29,800 30,948 38,142 TOTAL ASSETS 70,745 65,011 77,094

B EQUITY AND LIABILITIES EQUITY (TXLW\VKDUHFDSLWDO 16 1,396 1,396 1,396 2WKHUHTXLW\ 17 31,317 26,054 34,795 Total equity 32,713 27,450 36,191 LIABILITIES NON CURRENT LIABILITIES )LQDQFLDOOLDELOLWLHV L  %RUURZLQJV 18 6,052 8,468 9,862 LL  2WKHU)LQDQFLDO/LDELOLWLHV 19 51 34 - 3URYLVLRQV 20 154 134 111 Total non current liabilities 6,257 8,636 9,973 CURRENT LIABILITIES )LQDQFLDOOLDELOLWLHV L  %RUURZLQJV 21 24,496 21,687 19,273 LL  7UDGHSD\DEOHV 22 2,347 2,581 3,260 LLL  2WKHU¿QDQFLDOOLDELOLWLHV 23 4,649 4,175 7,467 2WKHUFXUUHQWOLDELOLWLHV 24 190 222 251 3URYLVLRQV 25 93 260 409 &XUUHQWWD[OLDELOLWLHV - - 270 Total current liabilities 31,775 28,925 30,930 Total liabilities 38,032 37,561 40,903 TOTAL EQUITY AND LIABILITIES 70,745 65,011 77,094 6LJQL¿FDQWDFFRXQWLQJSROLFLHVNH\ 1 DFFRXQWLQJHVWLPDWHVDQGMXGJPHQWV $VSHURXUDWWDFKHGUHSRUWRIHYHQGDWH )RUB S R & Co.LLP For and on behalf of the Board of Directors &KDUWHUHG$FFRXQWDQWV The Bombay Burmah Trading Corporation, Limited )LUP¶V5HJLVWUDWLRQ1R:: &,1/0+3/&

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 Annual Report 2016-2017

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2017

`LQ/DNKV Note For the year ended For the year ended 31st March, 2017 31st March, 2016 INCOME 5HYHQXHIURP2SHUDWLRQV 26 26,917 24,882 2WKHULQFRPH 27 4,936 2,677 Total Income 31,853 27,559 EXPENSES &RVWRIPDWHULDOVFRQVXPHG 28 8,053 7,937 3XUFKDVHRIVWRFNLQWUDGH 333 1,624 &KDQJHVLQLQYHQWRULHVRI¿QLVKHGJRRGVZRUNLQSURJUHVV 29 3,329 555 DQGVWRFNLQWUDGH ([FLVHGXW\ 874 784 (PSOR\HHEHQH¿WVH[SHQVH 30 7,583 7,720 'HSUHFLDWLRQDQGDPRUWL]DWLRQH[SHQVH 2 (a) - 2 (c) 829 857 )LQDQFHFRVWV 31 3,368 3,139 2WKHUH[SHQVHV 32 7,797 8,076 &RVWUHODWLQJWRUHDOHVWDWHXQGHUGHYHORSPHQW 43 83 Total Expenses 32,209 30,775

Loss before tax (356) (3,216) Tax expense: &XUUHQW7D[IRUWKH\HDU - - IRUHDUOLHU\HDUV (36) 3 Deferred Tax - 52 Loss for the year (320) (3,271) OTHER COMPREHENSIVE INCOME L  ,WHPVWKDWZLOOQRWEHUHFODVVL¿HGVXEVHTXHQWO\WRWKH 6WDWHPHQWRISUR¿WDQGORVV (TXLW\ LQYHVWPHQWV WKURXJK RWKHU FRPSUHKHQVLYH 6,507 (4,825) LQFRPHQHWFKDQJHLQIDLUYDOXH 5HPHDVXUHPHQWVRIGH¿QHGEHQH¿WOLDELOLWLHV DVVHWV (17) 69 LL  ,WHPV WKDW ZLOO EH UHFODVVL¿HG VXEVHTXHQWO\ WR WKH 6WDWHPHQWRISUR¿WDQGORVV ([FKDQJHGLIIHUHQFHLQWUDQVODWLQJ¿QDQFLDOVWDWHPHQWV RIIRUHLJQRSHUDWLRQV (67) (17) Other comprehensive income for the year 6,423 (4,773) Total comprehensive income for the year 6,103 (8,044) Earnings per equity share 33 %DVLF (0.46) (4.69) 'LOXWHG (0.46) (4.69) 6LJQL¿FDQWDFFRXQWLQJSROLFLHVNH\DFFRXQWLQJHVWLPDWHV 1 DQGMXGJPHQWV 7KHQRWHVUHIHUUHGWRDERYHDQGRWKHUQRWHVIRUPDQLQWHJUDOSDUWRIWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV $VSHURXUDWWDFKHGUHSRUWRIHYHQGDWH )RUB S R & Co.LLP For and on behalf of the Board of Directors &KDUWHUHG$FFRXQWDQWV The Bombay Burmah Trading Corporation, Limited )LUP¶V5HJLVWUDWLRQ1R:: &,1/0+3/&

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77 The Bombay Burmah Trading Corporation, Limited

CASH FLOW STATEMENT ANNEXED TO THE BALANCE SHEET FOR YEAR ENDED 31ST MARCH, 2017

`LQ/DNKV For the year ended For the year ended 31st March, 2017 31st March, 2016 A. &DVKÀRZVIURPRSHUDWLQJDFWLYLWLHV 3UR¿WEHIRUHWD[IURPFRQWLQXLQJRSHUDWLRQV (356) (3,216) 3UR¿WEHIRUHWD[ (356) (3,216) $GMXVWPHQWVWRUHFRQFLOHSUR¿WEHIRUHWD[WRQHWFDVK used in operating activities  'HSUHFLDWLRQ DQG LPSDLUPHQW RI SURSHUW\ SODQW DQG 829 857 HTXLSPHQW  8QUHDOLVHGH[FKDQJHÀXFWXDWLRQ JDLQ ORVV QHW 13 (76)  3UR¿WRQVDOHRI¿[HGDVVHWV QHW (1,421) (2)  *DLQRQVDOHRILQYHVWPHQWV (1,063) -  3URYLVLRQ IRU GRXEWIXO GHEWV DGYDQFHV  GRXEWIXO 168 (128) GHEWVZULWWHQRIIZULWWHQEDFN QHW  ,QWHUHVWH[SHQVH 3,368 3,137  ,QWHUHVWLQFRPH (1,697) (1,792)  'LYLGHQG,QFRPH (148) (237) 49 1,759 Working capital adjustments 'HFUHDVHLQLQYHQWRULHV 3,112 603 'HFUHDVHLQWUDGHDQGRWKHUUHFHLYDEOHV 1,772 561 'HFUHDVH LQWUDGHDQGRWKHUSD\DEOHV (291) (418) &XUUHQF\DOLJQPHQWRQFRQYHUVLRQRIDFFRXQWVRI QRQLQWHJUDOIRUHLJQEUDQFKHV RQ¿[HGDVVHWVDQG (67) (2) LQYHVWPHQWV 4,526 744 ,QFRPH7D[SDLG QHW (57) (52) 1HWFDVKÀRZVIURPRSHUDWLQJDFWLYLWLHV 4,469 692 &DVKÀRZIURPLQYHVWLQJDFWLYLWLHV 3URFHHGVIURPVDOHRISURSHUW\SODQWDQGHTXLSPHQW 1,429 3 3URFHHGVIURPLQYHVWPHQWV 34,652 - ,QWHUHVWUHFHLYHG 1,697 1,747 ,QYHVWPHQWVPDGHGXULQJWKH\HDU (34,902) - 3XUFKDVHRI¿[HGDVVHWVDQGDGGLWLRQVWRFDSLWDOZRUNLQ (811) (1,418) SURJUHVV ,QWHUFRUSRUDWHGHSRVLWVJLYHQ (680) - ,QWHUFRUSRUDWHGHSRVLWVWDNHQ - 200 'LYLGHQGUHFHLYHG 148 1,824 1HWFDVKÀRZVIURPLQYHVWLQJDFWLYLWLHV 1,533 2,355

 Annual Report 2016-2017

CASH FLOW STATEMENT ANNEXED TO THE BALANCE SHEET FOR YEAR ENDED 31ST MARCH, 2017 (CONTD.)

`LQ/DNKV For the year ended For the year ended 31st March, 2017 31st March, 2016 &DVKÀRZIURP¿QDQFLQJDFWLYLWLHV 'LYLGHQGSDLG (840) (691) 5HSD\PHQWVRIERUURZLQJV (2,385) (5,000) 3URFHHGVIURPERUURZLQJV 2,804 2,414 5HSD\PHQWRIKLUHSXUFKDVHORDQ - (7) ,QWHUHVWSDLG (3,062) (3,131) 1HWFDVKÀRZVIURP¿QDQFLQJDFWLYLWLHV (3,483) (6,415)

Net increase / (decrease) in cash and cash equivalents 2,212 (4,825) &DVKDQGFDVKHTXLYDOHQWVDWWKHEHJLQQLQJRIWKH\HDU 509 5,334 Cash and cash equivalents at the end of the year 2,721 509 7KHDERYH&DVK)ORZ6WDWHPHQWKDVEHHQSUHSDUHGXQGHUWKHµ,QGLUHFW0HWKRG¶DVVHWRXWLQWKH$FFRXQWLQJ 6WDQGDUG ,1'$6 ³&DVK)ORZ6WDWHPHQWV´ 7KH&RPSDQ\KDVXVHGSUR¿W ORVV EHIRUHWD[DVWKHVWDUWLQJSRLQWIRUSUHVHQWLQJRSHUDWLQJFDVKÀRZVXVLQJ WKHLQGLUHFWPHWKRG &DVK FRPSULVHV FDVK RQ KDQG &XUUHQW $FFRXQWV DQG GHSRVLWV ZLWK EDQNV &DVK HTXLYDOHQWV DUH VKRUWWHUP EDODQFHV ZLWKDQRULJLQDOPDWXULW\RIWKUHHPRQWKVRUOHVVIURPWKHGDWHRIDFTXLVLWLRQ KLJKO\OLTXLGLQYHVWPHQWV WKDWDUHUHDGLO\FRQYHUWLEOHLQWRNQRZQDPRXQWVRIFDVKDQGZKLFKDUHVXEMHFWWRLQVLJQL¿FDQWULVNRIFKDQJHVLQ YDOXH 7KHQRWHVUHIHUUHGWRDERYHDQGRWKHUQRWHVIRUPDQLQWHJUDOSDUWRIWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV

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 The Bombay Burmah Trading Corporation, Limited

STATEMENT OF CHANGES IN EQUITY (SOCIE)

(a) Equity share capital

`LQ/DNKV As at 31 March, 2017 As at 31 March, 2016 As at 1 April, 2015 No. of Amount No. of Amount No. of Amount Shares Shares Shares %DODQFHDWWKHEHJLQQLQJRIWKH 69,771,900 1,395 69,771,900 1,395 69,771,900 1,395 UHSRUWLQJSHULRG )RUIHLWHG VKDUHV DPRXQW SDLG 1 11 up &KDQJHVLQHTXLW\VKDUHFDSLWDO ------GXULQJWKH\HDU %DODQFH DW WKH HQG RI WKH 69,771,900 1,396 69,771,900 1,396 69,771,900 1,396 UHSRUWLQJSHULRG

 Annual Report 2016-2017           LQ/DNKV `

Total Equity Total Reserve Translation Translation Foreign Currency ------through Other Director',1Director ',1 Director Director ',1 ',1 Equity Instruments Comprehensive Income                        earnings Retained  LWLHV DVVHWV General Reserve Amit Chhabra Rajesh Batra Minnie Bodhanwala The Bombay Burmah Trading Corporation, Limited The Bombay Burmah Trading N H Datanwala9LFH3UHVLGHQW&RUSRUDWH DQG&RPSDQ\6HFUHWDU\ &KLHI)LQDQFLDO2I¿FHU Jeh Wadia M L Apte Capital Reserve Reserves and Surplus [Note 17] Items of Other comprehensive income [Note 17] ------Account Premium Premium Securities Particulars 0D\ th B S R & Co.LLP For and on behalf of the Board Directors Balance at 31 March, 2017 3,637 89 3,348 13,408 10,881 (46) 31,317 'LYLGHQG'LVWULEXWLRQ7D[ ''7 2WKHUFRPSUHKHQVLYHLQFRPHIRUWKH\HDU comprehensive income for the yearTotal 'LYLGHQGV - - - (337) 6,507 (67) 6,103 Balance at 31 March, 20163UR¿WIRUWKH\HDU 3,637 89 3,348 14,585 4,374 21 26,054 Total comprehensive income for the yearTotal 'LYLGHQGV - - - (3,202) (4,825) (16) (8,042) 2WKHUFRPSUHKHQVLYHLQFRPHIRUWKH\HDU Balance at 1 April, 20153UR¿WIRUWKH\HDU 3,637 89 3,348 18,485 9,199 37 34,795 'DWHG 0XPEDL $VSHURXUDWWDFKHGUHSRUWRIHYHQGDWH )RU )LUP¶V5HJLVWUDWLRQ1R:: &,1/0+3/& &KDUWHUHG$FFRXQWDQWV Vijay MathurPartner0HPEHUVKLS1R ',1 Ness Wadia Managing Director ',1 A K Hirjee Chairman Vice ',1 Chairman Nusli N Wadia (b) Other equity 7KHVHDPRXQWVUHIHUWRUHPHDVXUHPHQWVRIGH¿QHGEHQH¿WOLDELO

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS             APRIL 2016 As at st 1 in Lakhs `

314 st 31 2017 As at MARCH - 1,688 0 1

45 259 32 267 98 58 256 154 25 38 23 38 st 202 963 1,497 3,966 134 3,147 31 2017 As at MARCH -   of assets Elimination on disposal - - - - foreign Effect of exchange exchange differences - - - -  year for the Charge

- - - - st 0 - -                           2016 APRIL As at 1 1 64 61

303 299 355 212 st 1,688 1,699 4,929 3,282 31 2017 As at MARCH - - - -   Disposals - -     foreign Effect of exchange exchange differences GROSS BLOCK DEPRECIATION ACCUMULATED NET BLOCK ------Additions /DNK `                 APRIL 2016 As at st 1 PARTICULARS )UHHKROG/DQG  /HDVHKROG/DQG  3ODQWDQG (TXLSPHQW )XUQLWXUHDQG )L[WXUHV %XLOGLQJV 5RDGV       0RXOGV 'LHV  2I¿FH(TXLSPHQW'HYHORSPHQW SODQWDWLRQV 0RWRUYHKLFOHV&RPSXWHU  KDUGZDUH TOTAL &DSLWDOZRUNLQ SURJUHVV  12,378   574   (20) (40) 12,891 798 827 (12) (32) 1,581 11,311 11,580 2 and equipment plant (a) Property, LQFOXGHVDPRXQWOHVVWKDQ

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS              APRIL 2015 As at st OGLQWKH 1 LQ/DNKV ` 76

st 31 2016 As at MARCH 299 1,688 - - 0 1

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   16   st As at 31 2016 As at MARCH HDQGWKH KHQHWEORFN

March, 2016 st st 31 2017 As at 31 MARCH 0    14 14  16  

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3. Investment in subsidiaries and associates

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 Investment in subsidiaries at cost (Unquoted)

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5HIHUQRWHEHORZ 27,102 6,658 6,659

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Unsecured and considered good 257 139 168 'HSRVLWVIRUPDUJLQPRQH\ZLWKEDQNV 7 - 30 %DQN GHSRVLWV ZLWK PDWXULW\ EH\RQG  247 30 - PRQWKV 2WKHUUHFHLYDEOHV 305 145 326 /HVV$OORZDQFHIRURWKHUUHFHLYDEOHV (234) (140) - 582 174 524

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS           (415) Other Net Acquired in business combinations Recognised directly in equity ------in OCI Recognised ------Loss RI3UR¿WRU Recognised in Statement ------        (415) Net balance 1 April, 2016 in Lakhs) ` Tax liabilities (assets)Tax (415) - - - - - (415) $OORZDQFHIRUGRXEWIXOGHEWVDGYDQFHV DQGFRQWLQJHQFLHV 3URYLVLRQIRU(PSOR\HH%HQH¿WV8QDEVRUEHGGHSUHFLDWLRQ 5HIHU1RWHEHORZ EXVLQHVV ORVV'HIHUUHGLQFRPH DQG 3URYLVLRQV 7D[H[SHQVH EHQH¿WV    Deferred tax liability 'LIIHUHQFHEHWZHHQZULWWHQGRZQYDOXH FDSLWDOZRUNLQSURJUHVVRI¿[HGDVVHWV DV SHU WKH,QFRPHWD[$FW ERRNV RI DFFRXQWV DQG 31 March, 2017 ( 2WKHUV Assets Deferred Tax ,QGH[DWLRQEHQH¿WRQODQG      7 (a) Movement in deferred tax balances

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS          

(415) (415)

Expiry Date 0DUFK Other Net ZKLFKQRGHIHUUHG ------

EDEOHWKDWWD[DEOHSUR¿W 310 No expiry 339 684 No expiry 1,333 As at Acquired in business combinations 31 March, 2016 ------Recognised 1RH[SLU\ 1RH[SLU\ Expiry Date 0DUFK 0DUFK directly in equity ------

------339 457 751 800 2,347 in OCI Recognised As at - - - 31 March, 2017 loss LQFXUUHQFHRIEXVLQHVVORVVXQGHUWKH,QFRPHWD[$FWIRU DQGGHSUHFLDWLRQORVVDQGRWKHUDVVHWVWRWKHH[WHQWLWLVSUR LQSUR¿WRU Recognised HQFHVZLOOEHXWLOLVHG          (467) 52 - Net balance 1 April, 2015 8QDEVRUEHGGHSUHFLDWLRQ 8QDEVRUEHGGHSUHFLDWLRQ  8QDEVRUEHGGHSUHFLDWLRQ  %XVLQHVVORVV %XVLQHVVORVV Financial Year Nature of loss in Lakhs) ` 7D[H[SHQVH EHQH¿WV Tax liabilities (assets)Tax (467) - 8QDEVRUEHGGHSUHFLDWLRQ 5HIHU1RWHEHORZ EXVLQHVV ORVV DQG 3URYLVLRQIRUHPSOR\HHEHQH¿WV    $OORZDQFHIRUGRXEWIXOGHEWVDGYDQFHV DQGFRQWLQJHQFLHV Deferred Tax Assets Deferred Tax ,QGH[DWLRQEHQH¿WRQODQG   31 March, 2016 ( Deferred tax liability 'LIIHUHQFHEHWZHHQZULWWHQGRZQYDOXH FDSLWDOZRUNLQSURJUHVVRI¿[HGDVVHWV DV SHU WKH,QFRPHWD[$FW ERRNV RI DFFRXQWV2WKHUV DQG    'HIHUUHGWD[EHQH¿WVDUHUHFRJQL]HGRQXQDEVRUEHGEXVLQHVVORVV ZLOOEHDYDLODEOHDJDLQVWZKLFKWKHGHGXFWLEOHWHPSRUDU\GLIIHU 7KH&RPSDQ\KDVWKHIROORZLQJXQXVHGWD[ORVVHVZKLFKDURVHRQ WD[DVVHWKDVEHHQUHFRJQLVHGLQWKH%DODQFH6KHHW 7 (b) Movement in deferred tax balances

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

8 (a) Current tax assets

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 $GYDQFH SD\PHQW RI LQFRPHWD[ QHW RI SURYLVLRQ  502 374 596 502 374 596

8 (b) Other non-current assets

Unsecured and considered good 118 96 52 3UHSDLGH[SHQVHV 15 18 21 %DODQFHVZLWKJRYHUQPHQWDXWKRULWLHV 414 450 388 /HVV$OORZDQFHIRUGRXEWIXOEDODQFHVZLWK JRYHUQPHQWDXWKRULWLHVDQGFDSLWDODGYDQFHV (294) (194) (194) 253 370 267

9 (a) Inventories

5DZPDWHULDOV 490 421 543 :RUNLQSURFHVV 289 155 354 )LQLVKHGJRRGV 2,002 5,515 5,868 6WRFNLQWUDGH 71 30 33 &RQVXPDEOHVWRUHVDQGVSDUHV 425 493 685 5HDOHVWDWHXQGHUGHYHORSPHQW 2,792 2,639 2,416 *RRGVLQWUDQVLWUDZPDWHULDOV - 9 11 *RRGVLQWUDQVLW¿QLVKHGJRRGV 10 - - 6,079 9,262 9,910

7KHFRVWRILQYHQWRULHVUHFRJQLVHGDVDQH[SHQVHLQFOXGHV`/DNKV 0DUFK`/DNKV LQUHVSHFW RIZULWHGRZQRILQYHQWRU\WRLWVQHWUHDOLVDEOHYDOXH7KHUHKDVEHHQQRUHYHUVDORIVXFKZULWHGRZQLQFXUUHQW DQGSUHYLRXV\HDUV

,QYHQWRULHVDUHVXEMHFWWR¿UVWFKDUJHDJDLQVWEDQNORDQV 5HIHU1RWHDQG1RWH 9 (b) Biological assets

A) Reconciliation of carrying amount

31st March, 2017 Tea leaves Coffee fruits Opening Carrying value of Biological assets as on 31 March, 159 - 2016 $GG,QFUHDVHGXHWRKDUYHVWLQJGRQH 3,246 1,516 /HVV 3URGXFWLRQ GXULQJ WKH \HDU FKDQJHV GXH WR ELRORJLFDO (3,176) (1,516) WUDQVIRUPDWLRQ 'XH WR LQFUHDVH LQ 3URGXFH RQ WKH EXVKHV GXH WR IDYRXUDEOH - - ZHDWKHUFRQGLWLRQV 'XHWRLQFUHDVHLQQXPEHURISODQWDWLRQV - - ,QFUHDVHGXHWRVHDVRQDOSURGXFH - - &KDQJHVGXHWRELRORJLFDOWUDQVIRUPDWLRQIRUKDUYHVW - - Carrying value of Biological assets as on 31st March, 2017 229 - The reconciliation of Fair Value changes is analysed below:

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Opening Carrying value of Biological assets as on 31 March, 159 - 2016 9DULDQFHGXHWRSULFHUDWHPRYHPHQWV 44 - 9DULDQFHGXHWRYROXPHÀXFWXDWLRQV 'XH WR LQFUHDVH LQ 3URGXFH RQ WKH EXVKHV GXH WR IDYRXUDEOH ZHDWKHUFRQGLWLRQV 27 - &DUU\LQJYDOXHRI%LRORJLFDODVVHWVDVRQ0DUFK 229 -

Current portion 229 - Non-current portion - -

31 March, 2016 Particulars Tea leaves Coffee fruits Carrying value of Biological assets as on 1 April, 2015 114 - $GG,QFUHDVHGXHWRKDUYHVWLQJGRQH 2,192 1,309 /HVV 3URGXFWLRQ GXULQJ WKH \HDU FKDQJHV GXH WR ELRORJLFDO (2,147) (1,309) WUDQVIRUPDWLRQ Carrying value of Biological assets as on 31 March, 2016 159 -

The reconciliation of fair value changes is analysed below:

Carrying value of Biological assets as on 1 April, 2015 114 -

9DULDQFHGXHWRSULFHUDWHPRYHPHQWV (6) - 9DULDQFHGXHWRYROXPHÀXFWXDWLRQV 'XH WR LQFUHDVH LQ 3URGXFH RQ WKH EXVKHV GXH WR IDYRXUDEOH ZHDWKHUFRQGLWLRQV 51 - Carrying value of Biological assets as on 31 March, 2016 159 -

Current portion 159 - Non-current portion --

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

B. Measurement of Fair value

i. Fair Value hierarchy

  7KHIDLUYDOXHPHDVXUHPHQWVIRUWHDOHDYHVDQGFRIIHHIUXLWVKDVEHHQFDWHJRULVHGDV/HYHOIDLUYDOXHV EDVHGRQWKHLQSXWVWRYDOXDWLRQWHFKQLTXHXVHG ii. Level 3 Fair values

7KHIROORZLQJWDEOHVKRZVDEUHDNGRZQRIWKHWRWDOJDLQV ORVVHV UHFRJQLVHGLQUHVSHFWRI/HYHOIDLU YDOXHV

Particulars 31 March, 2017 31 March, 2016 *DLQ ORVV LQFOXGHGLQ´2WKHU,QFRPH´ 58 45 &KDQJHLQIDLUYDOXH UHDOLVHG - - &KDQJHLQIDLUYDOXH XQUHDOLVHG 58 45

 LLL9DOXDWLRQWHFKQLTXHVDQGVLJQL¿FDQWXQREVHUYDEOHLQSXWV

Inter-relationship between 6LJQL¿FDQW Type Valuation technique VLJQL¿FDQWXQREVHUYDEOHLQSXWV unobservable inputs and fair value measurement 7HDOHDYHV %DVHG RQ DFWXDO (VWLPDWHG WUDGLQJ 7KH HVWLPDWHG IDLU YDOXDWLRQ SURGXFWLRQ RI  SULFH RI WHD OHDYHV ZRXOG LQFUHDVH GHFUHDVH  LI  7KH GD\V LPPHGLDWHO\ DV DW WKH UHSRUWLQJ SURGXFWLRQ TXDQWLW\ IRU  GD\V VXFFHHGLQJ WKH GDWH  0DUFK  LPPHGLDWHO\DIWHUWKHUHSRUWLQJGDWH UHSRUWLQJGDWH `  SHU .J  FKDQJHV 0DUFK  `   WKH WUDGLQJ SULFHV RI WKH WHD SHU.J  OHDYHVXQGHUJRDFKDQJH &RIIHHIUXLWV %DVHG RQ HVWLPDWHG $YHUDJH RI KLJK DQG 7KH HVWLPDWHG IDLU YDOXDWLRQ ZRXOG DPRXQWRIFRIIHHIUXLWV ORZSULFHVGHWHUPLQHG LQFUHDVH GHFUHDVH LI WR EH SOXFNHG GXULQJ E\ 7KH &RIIHH %RDUG  7KH EXGJHWHG SURGXFWLRQ DQG WKHPRQWKVRI-DQXDU\ RI ,QGLD DV RQ WKH HVWLPDWHGTXDQWLW\WREHSOXFNHG WR0DUFKHDFK\HDU UHSRUWLQJGDWHV FKDQJHV

 7KH SULFHV GHWHUPLQHG E\ WKH &RIIHH%RDUGRI,QGLDFKDQJHV

C. Risk Management strategies related to agricultural activities

 7KH&RPSDQ\LVH[SRVHGWRWKHIROORZLQJULVNVUHODWLQJWRLWVSODQWDWLRQDFWLYLW\ i. Regulatory and environmental risks

  7KH&RPSDQ\LVVXEMHFWWRODZVDQGUHJXODWLRQVLQWKHFRXQWU\LQZKLFKLWRSHUDWHV,WKDVHVWDEOLVKHG YDULRXVHQYLURQPHQWDOSROLFLHVDQGSURFHGXUHVDLPHGDWFRPSOLDQFHZLWKWKHORFDOHQYLURQPHQWDODQG RWKHUODZV ii. Supply and demand risks

  7KH&RPSDQ\LVH[SRVHGWRULVNVDULVLQJIURPÀXFWXDWLRQVLQWKHSULFHDQGVDOHVYROXPHRISURGXFH WHD DQGFRIIHH :KHQSRVVLEOHWKH&RPSDQ\PDQDJHVWKLVULVNE\DOLJQLQJLWVSURGXFHWRPDUNHWVXSSO\ DQGGHPDQG0DQDJHPHQWUHJXODUO\DQDO\VHVLQGXVWU\WUHQGIRUSURMHFWHGSURGXFHDQGSULFHV

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

iii. Climate and other risks

  7KH &RPSDQ\¶V SODQWDWLRQV DUH H[SRVHG WR WKH ULVN RI GDPDJH IURP FOLPDWLF FKDQJHV SHVWV IRUHVW ¿UHVDQGRWKHUQDWXUDOIRUFHV7KH&RPSDQ\KDVH[WHQVLYHSURFHVVHVLQSODFHDLPHGDWPRQLWRULQJDQG PLWLJDWLQJWKRVHULVNVLQFOXGLQJUHJXODUHVWDWHKHDOWKLQVSHFWLRQVDQGLQGXVWULDOSHVWVXUYH\V 10 Trade receivables*

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 Unsecured &RQVLGHUHGJRRG 3,519 4,328 4,903 &RQVLGHUHGGRXEWIXO 497 474 445 /HVV$OORZDQFHIRUGRXEWIXOUHFHLYDEOHV (497) (474) (445) 3,519 4,328 4,903

)RUERUURZLQJVVHFXUHGDJDLQVWUHFHLYDEOHVUHIHU1RWHDQG1RWH

7KH &RPSDQ\¶V H[SRVXUH WR FUHGLW DQG FXUUHQF\ ULVNV DQG LPSDLUPHQW ORVV DOORZDQFHV UHODWHG WR WUDGH UHFHLYDEOHVDUHGLVFORVHGLQ1RWHDQG1RWHUHVSHFWLYHO\ 11 (a) Cash and cash equivalents

&DVKLQKDQG 13 22 35 Balance with banks : ,QFXUUHQWDFFRXQW 2,678 384 5,086 ,Q H[FKDQJH HDUQHUV  IRUHLJQ FXUUHQF\ 2 13 150 account 'HSRVLWV ZLWK RULJLQDO PDWXULW\ RI OHVV WKDQ - 53 2 PRQWKV %DQNDFFRXQWVKHOGE\IRUHLJQEUDQFKHV 28 37 61 2,721 509 5,334

11 (b) Other bank balances

8QSDLGGLYLGHQGDFFRXQWV 109 101 94 109 101 94

 &XUUHQW¿QDQFLDODVVHWV/RDQV

Unsecured and considered good ,QWHUFRUSRUDWHGHSRVLWV  12,280 12,960 13,074 /RDQVWRVXEVLGLDULHV 449 397 333 /RDQVWR.H\0DQDJHULDO3HUVRQQHO 2 - - /RDQVWRHPSOR\HHV 69 117 76 2WKHUUHFHLYDEOHV 1,651 1,946 1,689 14,451 15,420 15,172

,QFOXGHVGHSRVLWVJLYHQWRUHODWHGSDUWLHVDPRXQWLQJWR`/DNKV 0DUFK`/DNKV$SULO `/DNKV 

 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

13 Derivative assets

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 )RUZDUGH[FKDQJHFRQWUDFWV - 115 51 - 115 51

 &XUUHQW¿QDQFLDODVVHWV2WKHU¿QDQFLDODVVHWV

'LYLGHQGUHFHLYDEOHIURPVXEVLGLDU\ - - 1,587 5HFHLYDEOHVIURPUHODWHGSDUWLHV 62 62 - 5HFHLYDEOHVIURPRWKHUWKDQUHODWHGSDUWLHV 33 - - 6HFXULW\GHSRVLWV 11 12 11 106 74 1,598

15 Other current assets

Unsecured and considered good 3UHSDLGH[SHQVHV 230 112 92 %DODQFHVZLWKJRYHUQPHQWDXWKRULWLHV 765 700 690 $GYDQFHWRYHQGRUV 148 169 184 'H¿QHGEHQH¿WDVVHWV QHW JUDWXLW\ 58 - - %%7&/(PSOR\HHV6XSHUDQQXDWLRQ)XQG 71 - - 1,272 981 966

16 Share capital

(a) Authorised   0DUFK    $SULO    HTXLW\ VKDUHV RI 1,500 1,500 1,500 `HDFK TOTAL 1,500 1,500 1,500 (b) Issued, subscribed and paid up   0DUFK    $SULO HTXLW\VKDUHVRI` HDFKIXOO\SDLGXS 1,395 1,395 1,395 )RUIHLWHGVKDUHVDPRXQWSDLGXS 1 1 1 TOTAL 1,396 1,396 1,396 (c) Reconciliation of number of shares outstanding at the beginning and end of the year Equity share 2XWVWDQGLQJDWWKHEHJLQQLQJRIWKH\HDU 69,771,900 69,771,900 69,771,900 (TXLW\VKDUHVLVVXHGGXULQJWKH\HDU - - - Outstanding at the end of the year 69,771,900 69,771,900 69,771,900

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(d) Terms / Rights attached to each classes of shares Rights, preferences and restrictions attached to equity shares  7KH &RPSDQ\ KDV RQO\ RQH FODVV RI HTXLW\ VKDUHV ZLWK YRWLQJ ULJKWV KDYLQJ D SDU YDOXH RI `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e) Shareholders holding more than 5% shares in the Company is set out below:

As at 31 March, 2017 As at 31 March, 2016 As at 1 April, 2015 Equity share No. of No. of No. of % Holding % Holding % Holding Shares Shares Shares $UFKZD\,QYHVWPHQW 8,719,290 12.50 13,038,600 18.69 13,038,600 18.69 &RPSDQ\/LPLWHG 1:([SRUWV/LPLWHG 12,317,275 17.65 9,817,275 14.07 9,817,275 14.07 6XQÀRZHU,QYHVWPHQWV  8,395,430 12.03 6,576,120 9.43 6,576,120 9.43 7H[WLOHV3ULYDWH/LPLWHG 1DSHURO,QYHVWPHQWV 4,208,400 6.03 4,208,400 6.03 4,208,400 6.03 /LPLWHG 0U1XVOL1HYLOH:DGLD 6,141,505 8.81 6,141,505 8.81 6,141,505 8.81 :DOODFH%URWKHUV7UDGLQJ 5,660,700 8.11 5,660,700 8.11 5,660,700 8.11 ,QGXVWULDO/LPLWHG8.

17 Other equity

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 &DSLWDOUHVHUYH 89 89 89 6HFXULWLHVSUHPLXPUHVHUYH 3,637 3,637 3,637 *HQHUDOUHVHUYH 3,348 3,348 3,348 5HWDLQHGHDUQLQJV 13,408 14,515 18,485 )RUHLJQFXUUHQF\WUDQVODWLRQUHVHUYH (46) 21 37 (TXLW\ LQVWUXPHQWV WKURXJK RWKHU FRPSUHKHQVLYHLQFRPH 10,881 4,374 9,199 31,317 26,054 34,795

 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

17 (a) Other reserves

As at As at 31 March, 2017 31 March, 2016 Capital reserve 7KHUHVHUYHFRPSULVHVRISUR¿WVJDLQVRIFDSLWDOQDWXUHHDUQHG E\WKH&RPSDQ\DQGFUHGLWHGGLUHFWO\WRVXFKUHVHUYH $WWKHFRPPHQFHPHQWRIWKH\HDU 89 89 0RYHPHQWVGXULQJWKH\HDU - - &ORVLQJEDODQFH 89 89 Securities premium account 6HFXULWLHVSUHPLXPUHVHUYHVUHSUHVHQWVWKHSUHPLXPFKDUJHG WR WKH VKDUHKROGHUV DW WKH WLPH RI LVVXDQFH RI VKDUHV 7KH VHFXULWLHV SUHPLXP UHVHUYHV FDQ EH XWLOLVHG EDVHG RQ WKH UHOHYDQWUHTXLUHPHQWVRIWKH&RPSDQLHV¶$FW $WWKHFRPPHQFHPHQWRIWKH\HDU 3,637 3,637 0RYHPHQWVGXULQJWKH\HDU - - &ORVLQJEDODQFH 3,637 3,637 General reserve *HQHUDO UHVHUYH IRUPV SDUW RI WKH UHWDLQHG HDUQLQJV DQG LV SHUPLWWHGWREHGLVWULEXWHGWRVKDUHKROGHUVDVSDUWRIGLYLGHQG VXEMHFWWRWKHSURYLVLRQVRIWKH&RPSDQLHV$FW $WWKHFRPPHQFHPHQWRIWKH\HDU 3,348 3,348 0RYHPHQWVGXULQJWKH\HDU - - &ORVLQJEDODQFH 3,348 3,348 Foreign currency translation reserve )RUHLJQ FXUUHQF\ WUDQVODWLRQ UHVHUYH UHSUHVHQWV WKH XQUHDOLVHG JDLQVDQGORVVHVRQDFFRXQWRIWUDQVODWLRQRIQRQLQWHJUDOIRUHLJQ RSHUDWLRQVLQWRWKHUHSRUWLQJFXUUHQF\ $WWKHFRPPHQFHPHQWRIWKH\HDU 21 37 $GGHIIHFWRIIRUHLJQH[FKDQJHUDWHYDULDWLRQVGXULQJWKH\HDU (67) (16) &ORVLQJEDODQFH (46) 21 Equity instruments through other comprehensive income 7KLVUHSUHVHQWVWKHFXPXODWLYHJDLQVDQGORVVHVDULVLQJRQWKH UHYDOXDWLRQRIHTXLW\LQVWUXPHQWVPHDVXUHGDWIDLUYDOXHWKURXJK RWKHUFRPSUHKHQVLYHLQFRPH 2&, XQGHUDQLUUHYRFDEOHRSWLRQ QHW RI DPRXQWV UHFODVVL¿HG WR UHWDLQHG HDUQLQJV ZKHQ VXFK DVVHWVDUHGLVSRVHGRII $WWKHFRPPHQFHPHQWRIWKH\HDU 4,374 9,199 0RYHPHQWVGXULQJWKH\HDU - - &KDQJHVLQIDLUYDOXHRILQYHVWPHQWLQHTXLW\VKDUHV 6,507 (4,825) 10,881 4,374

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

 1RQFXUUHQW¿QDQFLDOOLDELOLW\%RUURZLQJV

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 Secured 7HUPORDQVIURP%DQNV 6,035 8,463 9,852 /RDQDJDLQVWYHKLFOHV 17 5 10 6,052 8,468 9,862  5XSHHORDQIURP+')&%DQN/LPLWHGRI`/DNKV FXUUHQWRXWVWDQGLQJ`/DNKV ZKLFKLV UHSD\DEOHLQHTXDOKDOI\HDUO\LQVWDOOPHQWVRI`/DNKVHDFKIURPUG0DUFKWRUG6HSWHPEHU 7KHORDQLVVHFXUHGE\H[WHQVLRQRIFKDUJHRIDQHTXLWDEOHPRUWJDJHE\GHSRVLWRIWLWOHGHHGV RI6LQJDPSDWWLHVWDWHVWRJHWKHUZLWK%XLOGLQJVDQGVWUXFWXUHVWKHUHRQLQIDYRXURI+')&%DQN/LPLWHG 7KHUDWHRILQWHUHVWRQWKHORDQLVUDQJLQJIURPWR  5XSHHORDQIURP.RWDN0DKLQGUD%DQN/LPLWHGRI`/DNKV FXUUHQWRXWVWDQGLQJ`/DNKV RI ZKLFK`/DNKVLVUHSD\DEOHLQHTXDOTXDUWHUO\LQVWDOOPHQWVRI`/DNKVHDFKIURPth-XQH WRth-XQHDQGHTXDOTXDUWHUO\LQVWDOOPHQWVRI`/DNKVHDFKIURPth6HSWHPEHU WRth-XQH`/DNKVLVUHSD\DEOHLQHTXDOTXDUWHUO\LQVWDOOPHQWVRI`/DNKVHDFK IURPth6HSWHPEHUWRVW0DUFKDQGHTXDOTXDUWHUO\LQVWDOOPHQWVRI`/DNKVHDFK IURPth-XQHWRVW0DUFK7KHORDQLVVHFXUHGE\H[WHQVLRQRIFKDUJHRIDQHTXLWDEOH PRUWJDJHE\GHSRVLWRIWLWOHGHHGVRI$NXUGL/DQGWRJHWKHUZLWK%XLOGLQJVDQGVWUXFWXUHVWKHUHRQLQ IDYRXURI.RWDN0DKLQGUD%DQN/LPLWHG7KHUDWHRILQWHUHVWRQWKHORDQLVUDQJLQJIURPWR  5XSHHORDQIURP7KH+RQJNRQJDQG6KDQJKDL%DQNLQJ&RUSRUDWLRQ/LPLWHGRI`/DNKV FXUUHQW RXWVWDQGLQJ`/DNKV LVUHSD\DEOHLQHTXDOKDOI\HDUO\LQVWDOOPHQWVRI`/DNKVHDFKIURP UG'HFHPEHUWRUG'HFHPEHU7KHORDQLVVHFXUHGE\H[WHQVLRQRIFKDUJHRIDQHTXLWDEOH PRUWJDJHE\GHSRVLWRIWLWOHGHHGVRI0XGLVHVWDWHVWRJHWKHUZLWK%XLOGLQJVDQGVWUXFWXUHVWKHUHRQLQ IDYRXURIVDLG7KH+RQJNRQJDQG6KDQJKDL%DQNLQJ&RUSRUDWLRQ/LPLWHG7KHUDWHRILQWHUHVWRQWKH ORDQLVUDQJLQJIURPWR  5XSHHORDQIURP7KH)HGHUDO%DQN/LPLWHGRI`/DNKV FXUUHQWRXWVWDQGLQJ`/DNKV LV UHSD\DEOHLQTXDUWHUO\LQVWDOOPHQWVRI`/DNKVHDFKIURP2FWREHUWR-DQXDU\7KH ORDQLVVHFXUHGE\H[WHQVLRQRISDULSDVVXFKDUJHRIDQHTXLWDEOHPRUWJDJHE\GHSRVLWRIWLWOHGHHGV RI0XGLVHVWDWHVWRJHWKHUZLWK%XLOGLQJVDQGVWUXFWXUHVWKHUHRQLQIDYRXURI7KH)HGHUDO%DQN/LPLWHG 7KHUDWHRILQWHUHVWRQWKHORDQLVUDQJLQJIURPWR  /RDQDJDLQVWYHKLFOHVDUHVHFXUHGE\OLHQRQYHKLFOHSXUFKDVHG7KHUDWHRILQWHUHVWRQWKHORDQLV UDQJLQJIURPWRDQGLVUHSD\DEOHLQHTXDOLQVWDOOPHQWV

 7KH&RPSDQ\¶VH[SRVXUHWROLTXLGLW\ULVNDQGLQWHUHVWULVNUHODWHGWRERUURZLQJVLVGLVFORVHGLQ1RWHDQG 1RWHUHVSHFWLYHO\  1RQFXUUHQW¿QDQFLDOOLDELOLWLHV2WKHU¿QDQFLDOOLDELOLWLHV

6HFXULW\GHSRVLWV 51 34 - 51 34 -

20 Provisions

3URYLVLRQIRUHPSOR\HHEHQH¿WV &RPSHQVDWHGDEVHQFHV>5HIHU1RWH@ 154   154  

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

 &XUUHQW¿QDQFLDOOLDELOLWLHV%RUURZLQJV

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 Secured &DVK FUHGLW  :&'/ VKRUW WHUP ORDQV DQG 3,392 11,187 7,773 SDFNLQJFUHGLW 5HIHU1RWHWR  Unsecured /RDQV UHSD\DEOH RQ GHPDQG IURP EDQNV 5,804 6,500 6,500 5HIHU1RWH  /RDQV UHSD\DEOH RQ GHPDQG IURP RWKHU 1,300 - 1,000 SDUWLHV 5HIHU1RWH  /RDQV DQG DGYDQFHV IURP UHODWHG SDUWLHV 4,000 4,000 4,000 5HIHU1RWH  &RPPHUFLDOSDSHU 5HIHU1RWH  10,000 - - 24,496 21,687 19,273

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 'XH WR 0LFUR DQG VPDOO HQWHUSULVHV 5HIHU 14 - - 1RWH  'XHWRRWKHUV 1,523 1,664 2,633 $FFUXDOIRUH[SHQVHV 810 917 627 2,347 2,581 3,260

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

24 Other current liabilities

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 $GYDQFHVIURPFXVWRPHUV 11 6 11 6WDWXWRU\GXHVSD\DEOH LQFOXGHV9$7H[FLVH 151 159 157 GXW\SURYLGHQWIXQGZLWKKROGLQJWD[HVHWF  'HIHUUHGUHYHQXH 28 57 83 190 222 251 25 Provisions

3URYLVLRQIRUHPSOR\HHEHQH¿WV *UDWXLW\>5HIHU1RWH@ - 122 188 3HQVLRQDQGVXSHUDQQXDWLRQIXQGV 70 118 128 &RPSHQVDWHGDEVHQFHV>5HIHU1RWH@ 23 20 93 93 260 409

26 Revenue from operations

For the year ended For the year ended 31 March, 2017 31 March, 2016 A. Sales of products and services 6DOHRISURGXFWV LQFOXGLQJH[FLVHGXW\  26,472 24,446 /HVV'LVFRXQWVDQGGHGXFWLRQV (97) (58) 6DOHRIVHUYLFHV 15 17 26,390 24,405

B. Other operating income ([SRUWEHQH¿WVDQGRWKHULQFHQWLYHV 422 254 6FUDSVDOHV 104 111 2WKHUV 1 112 527 477 26,917 24,882

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

27 Other income

For the year ended For the year ended 31 March, 2017 31 March, 2016 ,QWHUHVWRQGHSRVLWVDWDPRUWLVHGFRVW  ZLWKEDQNV 18 9  ZLWKRWKHUV 1,679 1,783 5HQWUHFHLYHG 59 103 1HWJDLQRQVDOHRILQYHVWPHQWV 1,063 - 1HWJDLQRQIRUHLJQFXUUHQF\WUDQVDFWLRQV 242 76 3URYLVLRQVQRORQJHUUHTXLUHGZULWWHQEDFN 87 250 *DLQRQIDLUYDOXDWLRQRIELRORJLFDODVVHWV 58 45 3UR¿WRQVDOHGLVSRVDORIDVVHWV QHW  1,421 2 *XDUDQWHHFRPPLVVLRQ 111 - 'LYLGHQGLQFRPHRQHTXLW\LQVWUXPHQWVDW)972&, 148 237 0DUNWRPDUNHWJDLQRQIRUZDUGFRQWUDFWV - 64 0LVFHOODQHRXVLQFRPH 50 108 4,936 2,677

28 Cost of materials consumed

2SHQLQJVWRFN 421 543 $GG3XUFKDVHVGXULQJWKH\HDU 8,122 7,815 /HVV&ORVLQJVWRFN (490) (421) 8,053 7,937

 &KDQJHVLQLQYHQWRULHVRI¿QLVKHGJRRGV LQFOXGLQJVWRFNLQWUDGH DQGZRUNLQSURJUHVV

Opening stock )LQLVKHGJRRGV LQFOXGLQJVWRFNLQWUDGH 5,545 5,901 :RUNLQSURFHVV 155 354 Less: Closing stock )LQLVKHGJRRGV LQFOXGLQJVWRFNLQWUDGH  2,082 5,545 :RUNLQSURFHVV 289 155 Changes in inventories )LQLVKHGJRRGV LQFOXGLQJVWRFNLQWUDGH  3,463 356 :RUNLQSURFHVV (134) 199 &KDQJHV LQ LQYHQWRULHV RI ¿QLVKHG JRRGV LQFOXGLQJ 3,329 555 stock-in-trade) and work in progress

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

 (PSOR\HHEHQH¿WVH[SHQVH

For the year ended For the year ended 31 March, 2017 31 March, 2016 6DODULHVDQGZDJHV 6,757 6,831 &RQWULEXWLRQWRSURYLGHQWDQGRWKHUIXQGV 533 482 ([SHQVHV UHODWHG WR SRVW HPSOR\PHQW GH¿QHG EHQH¿W 164 169 SODQ UHIHU1RWH  ([SHQVHVUHODWHGWRFRPSHQVDWHGDEVHQFHV UHIHU1RWH  35 61 6WDIIZHOIDUHH[SHQVHV 94 177 7,583 7,720

31 Finance costs

,QWHUHVW H[SHQVH RQ ¿QDQFLDO OLDELOLWLHV PHDVXUHG DW DPRUWLVHGFRVW 3,368 3,139 3,368 3,139

32 Other expenses

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

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

33 Earnings per share (EPS)

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Reconciliation of equity as at 1 April, 2015 and 31 March, 2016

Footnote As at As at Particulars ref. 1 April, 2015 31 March, 2016 1HWZRUWKXQGHUSUHYLRXV*$$3 25,795 21,625 Summary of Ind AS adjustments $PRUWL]DWLRQRIXSIURQWIHHVRQ¿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ther changes in equity 5HYHUVDORIGLYLGHQGGLVWULEXWLRQ 7 - 840 Total Ind AS adjustments 10,396 5,826

Net worth under Ind AS 36,191 27,451 Reconciliation of Total comprehensive income for the year ended on 31st March 2016

Footnote For the year ended Particulars ref. 31 March, 2016 7RWDOFRPSUHKHQVLYHLQFRPHXQGHUSUHYLRXV*$$3 (3,313) Summary of Ind AS adjustments $PRUWL]DWLRQRIXSIURQWIHHVRQ¿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otal Ind AS adjustments (4,731)

Comprehensive income under Ind AS (8,044)

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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(b) Amounts recognised in other comprehensive income ` in Lakhs For the year ended 31 March, For the year ended 31 March, 2017 2016 Before Tax Net of Before Tax Net of tax (expense) tax tax (expense) tax EHQH¿W benefit (TXLW\,QVWUXPHQWVWKURXJK2WKHU 6,507 - 6,507 (4,825) - (4,825) &RPSUHKHQVLYH,QFRPH 5HPHDVXUHPHQWV RI WKH GH¿QHG (17) - (17) 69 - 69 EHQH¿WSODQV ([FKDQJHGLIIHUHQFHVLQWUDQVODWLQJ WKH ¿QDQFLDO VWDWHPHQWV RI D IRUHLJQRSHUDWLRQ (67) - (67) (17) - (17) 6,423 - 6,423 (4,773) - (4,773)

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36 Managerial remuneration

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Particulars 31 March, 2017 31 March, 2016 'LVFRXQWLQJUDWH 7.36% 7.82% (VWLPDWHGUDWHRIUHWXUQRQSODQDVVHWV 7.82% 7.85% 6DODU\LQFUHDVH 5% 5% Attrition rate 3% 3% Expected guaranteed interest rate 8.65% * 8.80%

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1. Financial instruments – Fair values and risk management

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

` in Lakhs

Carrying amount Fair value 31 March, 2016 FVTPL FVTOCI Amortised Total Level 1 Level 2 Level 3 Total Cost Financial assets &DVK DQG FDVK - -   - - - - HTXLYDOHQWV %DQN EDODQFHV RWKHU - -   - - - - WKDQDERYH 1RQFXUUHQW -  -   - -  LQYHVWPHQWV &XUUHQWLQYHVWPHQWV ------/RQJWHUP ORDQV DQG - -   - - - - DGYDQFHV 6KRUWWHUP ORDQV DQG - -   - - - - DGYDQFHV 7UDGH DQG RWKHU - -   - - - - UHFHLYDEOHV 'HULYDWLYHDVVHWV  - -  -  -  2WKHU 1RQFXUUHQW - -   - - - - ¿QDQFLDODVVHW 2WKHU&XUUHQW¿QDQFLDO - -   - - - - DVVHW 115 14,261 20,700 35,076 14,261 115 - 14,376 Financial liabilities /RQJWHUPERUURZLQJV - -   - - - - 6KRUWWHUPERUURZLQJV - -   - - - - 7UDGH DQG RWKHU - -   - - - - SD\DEOHV 2WKHU 1RQ&XUUHQW - -   - - - - ¿QDQFLDOOLDELOLWLHV 2WKHU&XUUHQW¿QDQFLDO - -   - - - - OLDELOLWLHV - - 36,945 36,945 - - - -

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

` in Lakhs

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

B. Measurement of fair values

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Risk management framework

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Impairment    $W0DUFKWKHDJHLQJRIWUDGHDQGRWKHUUHFHLYDEOHVWKDWZHUHQRWLPSDLUHGZDVDVIROORZV

Carrying amount 31 March, 2017 31 March, 2016 GD\V 1,754 1,853 GD\V 900 1,217 GD\V 536 616 GD\V 230 459 0RUHWKDQ'D\V 595 657 /RVVDOORZDQFH (497) (474) Total 3,519 4,328

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NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Exposure to liquidity risk

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31 March, 2017 Carrying Less than 1-2 2-5 More than Total `LQ/DNKV amount 1 year years years 5 years 1RQGHULYDWLYH ¿QDQFLDO liabilities 5XSHHWHUPORDQVIURPEDQNV      - 3ULQFLSDO ,QWHUHVWRQWHUPORDQV     - 6KRUWWHUPERUURZLQJV    -- - 1RQFXUUHQW ¿QDQFLDO    -- - OLDELOLWLHV2WKHUV 2WKHU FXUUHQW ¿QDQFLDO    -- - OLDELOLWLHV 7UDGHDQGRWKHUSD\DEOHV    -- - &RUSRUDWHJXDUDQWHHV -     -

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 The Bombay Burmah Trading Corporation, Limited

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Category Instrument Currency Amounts Buy/Sell 1,/ 0DUFK +HGJHV DJDLQVW )RUZDUGFRQWUDFW 86' 86'/DNKV Sell H[SRUWVDOHV $SULO86' /DNKV  1,/  0DUFK +HGJHV DJDLQVW )RUZDUGFRQWUDFW (852 (852/DNKV Sell H[SRUWVDOHV $SULO(852 /DNKV 1,/ 0DUFK +HGJHV DJDLQVW )RUZDUGFRQWUDFW *%3 *%3/DNKV Sell H[SRUWVDOHV $SULO*%3 /DNKV

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Exposure to currency risk

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Sensitivity analysis  $ UHDVRQDEO\ SRVVLEOH VWUHQJWKHQLQJ ZHDNHQLQJ  RI WKH ,QGLDQ 5XSHH DJDLQVW 86 GROODUV (XURV*%36LQJDSRUH'ROODUVDW0DUFKZRXOGKDYHDIIHFWHGWKHPHDVXUHPHQWRI¿QDQFLDO LQVWUXPHQWVDQGDIIHFWHGSUR¿WRUORVVE\WKHDPRXQWVVKRZQEHORZ7KLVDQDO\VLVDVVXPHV WKDWDOORWKHUYDULDEOHVLQSDUWLFXODULQWHUHVWUDWHVUHPDLQFRQVWDQWDQGLJQRUHVDQ\LPSDFWRI IRUHFDVWVDOHVDQGSXUFKDVHV

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 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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Nominal amount ` in Lakhs 31 March, 2017 31 March, 2016 1 April, 2015

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

3UR¿WRUORVV `LQ/DNKV 31 March, 2017 31 March, 2016 1 April, 2015 (TXLW\LQVWUXPHQWV 0 1,411 1,907

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` in Lakhs As at As at 31 March, 2017 31 March, 2016 7RWDOERUURZLQJV 33,512 33,097 /HVV&DVKDQGFDVKHTXLYDOHQWV 2,721 509 Adjusted net debt 30,791 32,589 7RWDOHTXLW\ 32,713 27,449 Adjusted equity 32,713 27,449 $GMXVWHGQHWGHEWWRDGMXVWHGHTXLW\UDWLR 0.94 1.19 41 Contingent liabilities and commitments (to the extent not provided for)

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 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

43 Dividend

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 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

  by such during balance the year Maximum 01.04.2015 outstanding 7

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS  LQ/DNKV `

As at As at As at 31 March, 2017 31 March, 2016 31 March, 2017 -    Loss Gain Gain Movement Movement Movement on account of on account of on account of fair valuation- fair valuation- fair valuation-

   the year the year the year Sold during Sold during Sold during

- - -   year year year during the during the during the Purchased Purchased Purchased

- As at As at As at 1 April 2016 1 April 2016 1 April, 2015      ` ` ` per unit per unit per unit 5HODWHG3DUW\ 5HODWHG3DUW\ 5HODWHG3DUW\ 5HIHU1RWH 5HIHU1RWH 5HIHU1RWH $VVRFLDWH2WKHU $VVRFLDWH2WKHU $VVRFLDWH2WKHU Name of the party Relationship value Face Name of the party Relationship value Face Name of the party Relationship value Face 7KH %RPED\ '\HLQJ &RPSDQ\/LPLWHG 0DQXIDFWXULQJ 7KH %RPED\ '\HLQJ &RPSDQ\/LPLWHG 0DQXIDFWXULQJ 7KH %RPED\ '\HLQJ &RPSDQ\/LPLWHG 0DQXIDFWXULQJ Details of non-current investments purchased and sold during the previous year: (b) Current investments Details of Current investments purchased and sold during the current year: 48 Disclosures as per Section 186 of the Companies Act, 2013 (i) Investments made by the Company (a) Non-current investments Details of non-current investments purchased and sold during the year:

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

- -   As at      LQ/DNKV ` UVRQQHOIRU

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(iii) Details of corporate guarantee (a) Details of corporate guarantee given during the year: `LQ/DNKV

Name of the Given Withdrawn As at As at party during the during the Adjustments * 1 April, 2016 31 March, 2017 year year /HLOD /DQGV -  -    /LPLWHG    7KHPRYHPHQWLQFRUSRUDWHJXDUDQWHHLVRQDFFRXQWRIFKDQJHLQH[FKDQJHUDWHV (b) Details of corporate guarantee given during the previous year: Nil

 3XUSRVH 7KH ORDQ DYDLOHG E\ /HLOD /DQGV /LPLWHG D ZKROO\ RZQHG VXEVLGLDU\ LQFRUSRUDWHG LQ 0DXULWLXVIRUUH¿QDQFLQJWKHH[LVWLQJRXWVWDQGLQJIDFLOLWLHV 49 Segment information

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Plantation:6HJPHQWSURGXFHVWUDGHVLQ7HD&RIIHH7LPEHU&DUGDPRPDQG3HSSHU

Health Care:6HJPHQWPDQXIDFWXUHVWUDGHVLQ'HQWDOSURGXFWV

Auto Electric Components: 6HJPHQW PDQXIDFWXUHV VROHQRLGV VZLWFKHV YDOYHV VOLS ULQJV HWF IRU DXWRPRELOHDQGRWKHULQGXVWULHV

Investments:6HJPHQWLQYHVWVLQYDULRXVVHFXULWLHVOLVWHGDVZHOODVXQOLVWHGPDLQO\RQDORQJWHUPEDVLV

Weighing Products:6HJPHQWPDQXIDFWXUHVWUDGHVLQ$QDO\WLFDO3UHFLVLRQ%DODQFHVDQG:HLJKLQJ6FDOHV

Real Estate:6HJPHQWUHSUHVHQWVSURSHUW\GHYHORSPHQW

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Based on above, following are reportable segments as per Ind AS 108 Primary Segment (Operating Segment) Secondary Segment (Geographical Segment) Based on product lines of Company Based on geographical area of operation 3ODQWDWLRQ7HD 3ODQWDWLRQ&RIIHH $XWR(OHFWULFDO&RPSRQHQWV ,QYHVWPHQWV ,QGLDDQG2XWVLGH,QGLD +HDOWKFDUH :HLJKWLQJ3URGXFW 5HDO(VWDWH

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

 6HJPHQWZLVHFODVVL¿FDWLRQ A i) Primary segment reporting (by business segment) The Company’s business segments based on product lines are as under : - Plantation - Tea   6HJPHQWSURGXFHVWUDGHVLQ7HDEXVLQHVV - Plantation - Coffee   6HJPHQWSURGXFHVWUDGHVLQ&RIIHHEXVLQHVV - Auto electric components   6HJPHQWPDQXIDFWXUHVVROHQRLGVVZLWFKHVYDOYHVVOLSULQJVHWFIRUDXWRPRELOHDQGRWKHULQGXVWULHV - Investments   6HJPHQWLQYHVWVLQYDULRXVVHFXULWLHVOLVWHGDVZHOODVXQOLVWHGPDLQO\RQDORQJWHUPEDVLVDQGGHSRVLWV - Health Care   6HJPHQWPDQXIDFWXUHVWUDGHVLQ'HQWDOSURGXFWV - Weighing products   6HJPHQWPDQXIDFWXUHVWUDGHVLQDQDO\WLFDOSUHFLVLRQEDODQFHVDQGZHLJKLQJVFDOHV - Real estate   6HJPHQWUHSUHVHQWVSURSHUW\GHYHORSPHQW ii) Segment revenues, results and other information : `LQ/DNKV Auto Total of Plantation- Plantation- Health Weighing Real Electric Investments Reportable Tea Coffee Care Products Estate Component Segment External sales 8,695 4,788 10,796 148 2,528 171 - 27,126 (Gross of excise       -  duty)

124 84 142 2,760 13 5 - 3,128 Other income       - 

Segment 8,819 4,872 10,938 2,908 2,541 176 - 30,254 revenue       - 

(1,311) 110 1,196 2,908 465 (70) (43) 3,255 Segment results            

6,855 5,287 6,879 40,919 1,299 196 2,793 64,228 Segment assets        

Segment 677 166 1,454 4,000 259 26 - 6,582 liabilities       - 

Capital 98 29 405 - 5 - - 537 expenditure    -  - -  (included in segment assets)

Depreciation/ 227 225 216 - 12 39 - 719 Amortization    -   - 

 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

)LJXUHVLQLWDOLFVSHUWDLQWRSUHYLRXV\HDU

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Revenues Results / Assets Liabilities Capital Depreciation/ 1HW3UR¿WV Expenditure Amortization Total of reportable 30,254 3,255 64,228 6,582 537 719 segments      

Corporate / 1,599 (243) 6,517 31,450 46 110 Unallocated segment      

- (3,368) - - - - Finance cost -  - - - -

- 36 - - - - Taxes   - - - -

$V SHU ¿QDQFLDO 31,853 (320) 70,745 38,0342 583 829 statement       

)LJXUHVLQLWDOLFVSHUWDLQWRSUHYLRXV\HDU B Secondary segment reporting (by geographical segment)

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Particulars India Outside India* Total    5HYHQXH         7RWDODVVHWV       -  &DSLWDOH[SHQGLWXUH   - 

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 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

 )LJXUHVLQLWDOLFVSHUWDLQWRSUHYLRXV\HDU 50 Related party relationships, transactions and balances

List of Related parties

1. Subsidiaries and step down subsidiaries where control exists:

a) Subsidiaries

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   LY /HLOD/DQGV6HQGHULDQ%HUKDG b) Step down subsidiaries:

a. Subsidiary of DPI Products & Services Limited :

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    %D\PDQFR,QYHVWPHQWV/LPLWHG c. Subsidiaries of Island Horti-Tech Holdings Pte. Limited :

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

e. Subsidiaries of Britannia Industries Limited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f. Subsidiary of Innovative Organics Inc. :     *UDQXP,QF 2. Key Management Personnel:   0U1XVOL1:DGLD1RQH[HFXWLYH'LUHFWRU   0U$QLO.XPDU+LUMHH1RQH[HFXWLYH'LUHFWRU   0U0DGKDY/$SWH1RQH[HFXWLYH'LUHFWRU   0U'DULXV(8GZDGLD1RQH[HFXWLYH'LUHFWRU   0U-HKDQJLU1:DGLD1RQH[HFXWLYH'LUHFWRU   'U 0UV 0LQQLH%RGKDQZDOD1RQH[HFXWLYH'LUHFWRU ZHI0DUFK   'U 0UV 6KHHOD%KLGH1RQH[HFXWLYH'LUHFWRU XSWR'HFHPEHU   0U5DMHVK%DWUD1RQH[HFXWLYH'LUHFWRU ZHI0DUFK   0U1HVV:DGLD0DQDJLQJ'LUHFWRU   0U$VKRN3DQMZDQL0DQDJLQJ'LUHFWRU XSWRth)HEUXDU\   0U1LWLQ+'DWDQZDOD&RPSDQ\6HFUHWDU\DQG9LFH3UHVLGHQW&RUSRUDWH   0U$PLW&KKDEUD&KLHI)LQDQFLDO2I¿FHU ZHIth)HEUXDU\

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

3. Associate companies:

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 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

7KHIROORZLQJWDEOHSURYLGHVWKHWRWDODPRXQWRIWUDQVDFWLRQVWKDWKDYHEHHQHQWHUHGLQWRZLWKUHODWHGSDUWLHV IRUWKHUHOHYDQW¿QDQFLDO\HDU A Transactions during the year

( ` in Lakhs) Name of the related party Relationship Transaction values for the year ended 31 March 2017 2016 Expenses charged by them 7KH %RPED\ '\HLQJ  $VVRFLDWH2WKHU5HODWHG3DUW\ 5HIHU 79 53 0DQXIDFWXULQJ&RPSDQ\/LPLWHG 1RWH $IFR ,QGXVWULDOV  &KHPLFDOV 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 63 52 /LPLWHG %ULWDQQLD,QGXVWULHV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV - 0 1DLUD+ROGLQJV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 10 1

Expenses charged to them 7KH %RPED\ '\HLQJ  $VVRFLDWH2WKHU5HODWHG3DUW\ 5HIHU 84 47 0DQXIDFWXULQJ&RPSDQ\/LPLWHG 1RWH 1DLUD+ROGLQJV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 38 47 '3,3URGXFWVDQG6HUYLFHV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 4 2 $IFR ,QGXVWULDOV  &KHPLFDOV 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 0 12 /LPLWHG %ULWDQQLD,QGXVWULHV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 1 - 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\ 1 0

Interest received 1DLUD+ROGLQJV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 7 6 *R$LUOLQHV ,QGLD /LPLWHG 2WKHUUHODWHGSDUWLHV 463 462 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\ 789 787 $UFKZD\ ,QYHVWPHQW &RPSDQ\ 2WKHUUHODWHGSDUW\ 79 80 /LPLWHG

Interest paid %ULWDQQLD,QGXVWULHV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 480 481

Loan repaid by $UFKZD\ ,QYHVWPHQW &RPSDQ\ 2WKHUUHODWHGSDUW\ 600 - /LPLWHG

Interest on loan given to KMP’s recovered 0U$VKRN3DQMZDQL .H\0DQDJHPHQW3HUVRQQHO 1 2 0U$PLW&KKDEUD .H\0DQDJHPHQW3HUVRQQHO 0 - 0U1LWLQ+'DWDQZDOD .H\0DQDJHPHQW3HUVRQQHO 0 1 ,QFOXGHVDPRXQWOHVVWKDQ`ODNK

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

A Transactions during the year (Continued)

Name of the related party Relationship Transaction values for the year ended 31 March 2017 2016 Dividend income 7KH %RPED\ '\HLQJ  $VVRFLDWH2WKHU5HODWHG3DUW\ 5HIHU 148 237 0DQXIDFWXULQJ&RPSDQ\/LPLWHG 1RWH

Dividend Paid 0U1HVV:DGLD .H\0DQDJHPHQW3HUVRQQHO 0 0

Management / Secondment Charges received /HLOD/DQGV6HQGHULDQ%HUKDG 6XEVLGLDULHV 6XE6XEVLGLDULHV 2 -

Expenses recovered %ULWDQQLD,QGXVWULHV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV  - 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\  0 1DLUD+ROGLQJV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV  42 6HD :LQG ,QYHVWPHQW  7UDGLQJ 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV  - &RPSDQ\/LPLWHG

Management / Secondment Charges paid 1DLUD+ROGLQJV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV - 2

Professional fees paid 8GZDGLD &R 2WKHUUHODWHGSDUW\ 22 1

Rent recovered $IFR ,QGXVWULDOV  &KHPLFDOV 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 0 - /LPLWHG

Loan given to KMPs / Other related party 0U$PLW&KKDEUD .H\PDQDJHPHQWSHUVRQQHO 10 - 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHUUHODWHGSDUW\ 600 -

Financial guarantee given /HLOD/DQGV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 42,923 -

 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Name of the related party Relationship Transaction values for the year ended 31 March 2017 2016 Guarantee commission received /HLOD/DQGV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 111 -

Sale of investments %D\PDQFR,QYHVWPHQWV/LPLWHG 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV 33,591 -

Advance / Inter corporate deposits given 6HD :LQG ,QYHVWPHQW  7UDGLQJ 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV - 10 &RPSDQ\/LPLWHG

Loan repaid by KMPs 0U$VKRN3DQMZDQL .H\0DQDJHPHQW3HUVRQQHO 50 - 0U$PLW&KKDEUD .H\0DQDJHPHQW3HUVRQQHO 2 -

Unsecured Loan Paid 6HD :LQG ,QYHVWPHQW  7UDGLQJ 6XEVLGLDU\ VWHSGRZQVXEVLGLDULHV - 10 &RPSDQ\/LPLWHG

Remuneration 0U$VKRN3DQMZDQL .H\0DQDJHPHQW3HUVRQQHO - 138 0U1HVV:DGLD .H\0DQDJHPHQW3HUVRQQHO 349 349 0U$PLW&KKDEUD .H\0DQDJHPHQW3HUVRQQHO 70 14

Sitting fees for board and committee meetings 0U1XVOL1:DGLD1RQH[HFXWLYH .H\0DQDJHPHQW3HUVRQQHO 1 2 'LUHFWRU 0U $QLO .XPDU +LUMHH  1RQ .H\0DQDJHPHQW3HUVRQQHO 2 4 H[HFXWLYH'LUHFWRU 0U 0DGKDY / $SWH  1RQ .H\0DQDJHPHQW3HUVRQQHO 3 5 H[HFXWLYH'LUHFWRU 0U'DULXV(8GZDGLD .H\0DQDJHPHQW3HUVRQQHO 2 3 0U-HKDQJLU1:DGLD .H\0DQDJHPHQW3HUVRQQHO 1 1 'U 0UV 6KHHOD%KLGH .H\0DQDJHPHQW3HUVRQQHO 1 1

Retainer Fees 0U1LWLQ+'DWDQZDOD .H\0DQDJHPHQW3HUVRQQHO 61 69

,QFOXGHVDPRXQWOHVVWKDQ`ODNK

 Annual Report 2016-2017

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

B Outstanding balances

` in Lakhs Name of the related party Relationship Outstanding balances as at 31 March, 2017 31 March, 2016 1 April, 2015 Outstanding amount payable %ULWDQQLD,QGXVWULHV/LPLWHG 6XEVLGLDU\ VWHS 4,000 4,000 4,000 GRZQVXEVLGLDULHV 7KH%RPED\'\HLQJ  $VVRFLDWH  2WKHU 16 22 16 0DQXIDFWXULQJ&RPSDQ\ 5HODWHG 3DUW\ 5HIHU /LPLWHG 1RWH $IFR,QGXVWULDO &KHPLFDOV 6XEVLGLDU\ VWHS 11 1 15 /LPLWHG GRZQVXEVLGLDULHV /HLOD/DQGV6HQGHULDQ 6XEVLGLDU\ VWHS 0 4 - %HUKDG GRZQVXEVLGLDULHV

Outstanding guarantee to /HLOD/DQGV/LPLWHG 6XEVLGLDU\ VWHS 42,923 - - GRZQVXEVLGLDULHV

Security deposit payable 7KH%RPED\'\HLQJ  $VVRFLDWH  2WKHU 300 300 300 0DQXIDFWXULQJ&RPSDQ\ 5HODWHG 3DUW\ 5HIHU /LPLWHG 1RWH

Outstanding amount receivable '3,3URGXFWVDQG6HUYLFHV 6XEVLGLDU\ VWHS 82 82 80 /LPLWHG GRZQVXEVLGLDULHV $IFR,QGXVWULDO &KHPLFDOV 6XEVLGLDU\ VWHS 27 - - /LPLWHG GRZQVXEVLGLDULHV *R$LUOLQHV ,QGLD /LPLWHG 2WKHUUHODWHGSDUW\ 3,870 3,870 3,870 6HD:LQG,QYHVWPHQW  6XEVLGLDU\ VWHS - 10 65 7UDGLQJ&RPSDQ\/LPLWHG GRZQVXEVLGLDULHV 1DLUD+ROGLQJV/LPLWHG 6XEVLGLDU\ VWHS 341 352 333 GRZQVXEVLGLDULHV %ULWDQQLD,QGXVWULHV/LPLWHG 6XEVLGLDU\ VWHS - - 0 GRZQVXEVLGLDULHV 0DFUR¿O,QYHVWPHQWV/LPLWHG 2WKHU5HODWHG3DUWLHV 6,880 6,280 6,280 /HLOD/DQGV6HQGHULDQ%HUKDG 6XEVLGLDU\ VWHS - - 1,587 GRZQVXEVLGLDULHV $UFKZD\,QYHVWPHQW 2WKHUUHODWHGSDUW\ - 600 600 &RPSDQ\/LPLWHG 0U$VKRN3DQMZDQL .H\0DQDJHPHQW - 52 50 3HUVRQQHO 0U1LWLQ+'DWDQZDOD .H\0DQDJHPHQW 12 12 12 3HUVRQQHO 0U$PLW&KKDEUD .H\0DQDJHPHQW 8 - - 3HUVRQQHO 0U1HVV:DGLD .H\0DQDJHPHQW 62 62 - 3HUVRQQHO ,QFOXGHVDPRXQWOHVVWKDQ`ODNK

 The Bombay Burmah Trading Corporation, Limited

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

C Compensation paid to Key Managerial Personnel (` in Lakhs)

For the year ended For the year ended 31 March, 2017 31 March, 2016 Mr. Ashok Panjwani 6DODU\ - 85 &RQWULEXWLRQWRSURYLGHQWIXQGDQGRWKHUIXQGV - 27 3HUTXLVLWHVLQFDVKRULQNLQG - 26 - 138 Mr. Ness Wadia 6DODU\ 283 283 &RQWULEXWLRQWRSURYLGHQWIXQGDQGRWKHUIXQGV 59 59 3HUTXLVLWHVLQFDVKRULQNLQG 7 7 349 349 Mr. Amit Chhabra 6DODU\ 61 12 &RQWULEXWLRQWRSURYLGHQWIXQGDQGRWKHUIXQGV 4 1 3HUTXLVLWHVLQFDVKRULQNLQG 5 1 70 14

6RPHRIWKHNH\PDQDJHPHQWSHUVRQQHORIWKH&RPSDQ\DUHDOVRFRYHUHGXQGHUWKH&RPSDQ\¶V*UDWXLW\ SODQDORQJZLWKWKHRWKHUHPSOR\HHVRIWKH&RPSDQ\3URSRUWLRQDWHDPRXQWVRIJUDWXLW\DFFUXHGXQGHUWKH &RPSDQ\¶V*UDWXLW\SODQKDYHQRWEHHQVHSDUDWHO\FRPSXWHGRULQFOXGHGLQWKHDERYHGLVFORVXUHV Terms and conditions of transactions with related parties

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$VSHURXUDWWDFKHGUHSRUWRIHYHQGDWH )RUB S R & Co.LLP For and on behalf of the Board of Directors &KDUWHUHG$FFRXQWDQWV The Bombay Burmah Trading Corporation, Limited )LUP¶V5HJLVWUDWLRQ1R:: &,1/0+3/&

Vijay Mathur Ness Wadia A K Hirjee Nusli N Wadia Partner Managing Director Vice Chairman Chairman 0HPEHUVKLS1R ',1 ',1 ',1

N H Datanwala Jeh Wadia M L Apte 9LFH3UHVLGHQW&RUSRUDWH Director Director DQG&RPSDQ\6HFUHWDU\ ',1 ',1

Amit Chhabra Rajesh Batra Minnie Bodhanwala 0XPEDL &KLHI)LQDQFLDO2I¿FHU Director Director 'DWHGth0D\ ',1 ',1

 Annual Report 2016-2017

INDEPENDENT AUDITORS’ REPORT

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ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT OF EVEN DATE ON THE CONSOLIDATED IND AS FINANCIAL STATEMENTS OF THE BOMBAY BURMAH TRADING CORPORATION, LIMITED– 31 MARCH 2017

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Act

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CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH, 2017  `LQ/DNKV Note As at As at As at March 31st, 2017 March 31st, 2016 April 1st, 2015 ASSETS Non-current assets 3URSHUW\3ODQWDQG(TXLSPHQW 2.a 112,755 95,039 84,652 &DSLWDOZRUNLQSURJUHVV 2.a 3,321 9,083 4,929 ,QYHVWPHQW3URSHUW\ 2.b 1,540 15 16 *RRGZLOO 106,172 102,500 101,805 2WKHU,QWDQJLEOHDVVHWV 2.c 1,266 1,404 1,330 Investments in Associates 3 53,247 1,377 1,390 Financial Assets - L  ,QYHVWPHQWV 4 31,673 51,607 27,351 LL /RDQV 5 4,825 20,509 1,347 LLL 2WKHU¿QDQFLDODVVHWV 6 1,469 4,050 4,091 'HIHUUHGWD[DVVHWV QHW  7 227 2,264 2,842 &XUUHQWWD[DVVHWV QHW  8 3,040 2,698 2,174 2WKHUQRQFXUUHQWDVVHWV 9 16,586   Total non current assets 336,121 295,504 236,797 Current Assets ,QYHQWRULHV 10 73,389 54,651 51,594 %LRORJLFDO$VVHWVRWKHUWKDQEHDUHUSODQWV 11 229 159 114 )LQDQFLDO$VVHWV L  ,QYHVWPHQWV 12 25,624 54,086 56,105 LL  7UDGHUHFHLYDEOHV 13 23,074 23,181 20,230 LLL &DVKDQGFDVKHTXLYDOHQWV 14a 15,611 12,985 14,501 LY %DQNEDODQFHVRWKHUWKDQ LLL DERYH 14b 6,631 556 17,020 Y  /RDQV 15 91,222 55,039 42,037 YL 'HULYDWLYHDVVHWV - 115 51 YLL 2WKHU¿QDQFLDODVVHWV 16 3,020 2,420 1,686 2WKHUFXUUHQWDVVHWV 17 38,277 16,080 15,095 7RWDOFXUUHQWDVVHWV 277,077 219,272 218,433 727$/$66(76 613,198 514,776 455,230 EQUITY AND LIABILITIES EQUITY (TXLW\VKDUHFDSLWDO 18 1,396 1,396 1,396 2WKHUHTXLW\ 19 232,009 189,944 162,679 Equity attributable to equity holders of the parent 233,405 191,340 164,075 1RQFRQWUROOLQJLQWHUHVWV 142,736 106,704 76,544 7RWDOHTXLW\ 376,141 298,044 240,619 NON CURRENT LIABILITIES )LQDQFLDOOLDELOLWLHV L  %RUURZLQJV 20 58,743 30,624 49,683 LL  2WKHU¿QDQFLDOOLDELOLWLHV 21 2,770 2,282 2,034 3URYLVLRQV 22 949 717 593 *RYHUQPHQW*UDQW 29 227 408 529 Total non current liabilities 62,689 34,031 52,839 Current liabilities )LQDQFLDOOLDELOLWLHV L  %RUURZLQJV 23 38,781 44,975 30,611 LL 7UDGHSD\DEOHV 24 78,991 81,759 71,965 LLL 2WKHU¿QDQFLDOOLDELOLWLHV 25 23,209 23,035 29,014 2WKHUFXUUHQWOLDELOLWLHV 26 9,347 9,317 10,007 6KRUWWHUPSURYLVLRQV 27 19,455 19,446 15,649 /LDELOLWLHVIRUFXUUHQWWD[ QHW  28 4,389 3,953 4,308 *RYHUQPHQW*UDQW 29 196 216 218 Total Current liabilities 174,368 182,701 161,772 Total liabilities 237,057 216,732 214,611 TOTAL EQUITY AND LIABILITIES 613,198 514,776 455,230

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CONSOLIDATED STATEMENT OF PROFIT AND LOSS 31ST MARCH, 2017  `LQ/DNKV Note For the year ended For the year ended 31 March, 2017 31 March, 2016 Revenue 5HYHQXHIURP2SHUDWLRQV 30 971,288 899,820 2WKHULQFRPH 31 19,515 16,038 Total Income (I+II) 990,803 915,858 Expenses &RVWRIPDWHULDOVFRQVXPHG 32 491,565 443,209 3XUFKDVHRI7UDGHG*RRGV 84,080 73,996 &KDQJHVLQLQYHQWRULHVRI¿QLVKHGJRRGVZRUNLQSURJUHVVDQGVWRFNLQ 33 (8) (180) WUDGH (PSOR\HH%HQH¿WV([SHQVHV 34 46,714 45,530 )LQDQFHFRVWV 35 4,342 4,395 ([FLVHGXW\ 27,876 23,640 'HSUHFLDWLRQDQG$PRUWL]DWLRQ([SHQVHV 13,084 12,587 &RVWUHODWLQJWRUHDOHVWDWHXQGHUGHYHORSPHQW 43 83 2WKHU([SHQVHV 36 194,935 193,165 Total Expenses 862,631 796,425 3UR¿W ORVV EHIRUHVKDUHRI SUR¿W ORVVRIDVVRFLDWHVH[FHSWLRQDO 128,172 119,433 items and tax 6KDUHRI3UR¿W /RVV IURP$VVRFLDWHV 25 22 3UR¿W ORVV EHIRUH7D[ 128,197 119,455 Tax expense: &XUUHQW7D[ 40,316 39,824 'HIHUUHG7D[ 2,035 433 3UR¿W /RVV IRUWKH\HDU 85,846 79,198 Other comprehensive income L ,WHPVWKDWZLOOQRWEHUHFODVVL¿HGWRSUR¿WRUORVV 5HPHDVXUHPHQWJDLQVORVVHVRQGH¿QHGEHQH¿WSODQV (40) (23) ,QFRPHWD[SHUWDLQLQJWRDERYHDGMXVWPHQW 8 32 &KDQJHVLQIDLUYDOXHRILQYHVWPHQWLQHTXLW\VKDUHV 4,726 (4,873) L ,WHPVWKDWZLOOEHUHFODVVL¿HGWRSUR¿WRUORVV - &KDQJHVLQIRUHLJQFXUUHQF\WUDQVODWLRQUHVHUYH 11,198 (8,863) 15,892 (13,727) Total comprehensive income for the year 101,738 65,471 3UR¿WDWWULEXWDEOHWR 2ZQHUVRIWKH&RPSDQ\ 43,567 38,623 1RQFRQWUROOLQJLQWHUHVWV 42,279 40,575 2WKHUFRPSUHKHQVLYHLQFRPHDWWULEXWDEOHWR 2ZQHUVRIWKH&RPSDQ\ 8,065 (13,728) 1RQFRQWUROOLQJLQWHUHVWV 7,827 - 7RWDOFRPSUHKHQVLYHLQFRPHDWWULEXWDEOHWR 2ZQHUVRIWKH&RPSDQ\ 51,632 24,895 1RQFRQWUROOLQJLQWHUHVWV 50,106 40,575 (DUQLQJVSHUHTXLW\VKDUH 1RWH  %DVLF 62 55  'LOXWHG 62 55

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CONSOLIDATED CASH FLOWS STATEMENT ANNEXED TO THE BALANCE SHEET FOR THE YEAR ENDED 31 ST MARCH, 2017

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CONSOLIDATED CASH FLOWS STATEMENT ANNEXED TO THE BALANCE SHEET FOR THE YEAR ENDED 31 ST MARCH, 2017

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STATEMENT OF CHANGES IN EQUITY (SOCIE)

(a) Equity share capital

`LQ/DNKV As at 31 March, 2017 As at 31 March, 2016 As at 1 April, 2015 No. of Amount No. of Amount No. of Amount Shares Shares Shares %DODQFHDWWKHEHJLQQLQJRIWKH 69,771,900 1,395 69,771,900 1,395 69,771,900 1,395 UHSRUWLQJSHULRG%DODQFH 6KDUHIRUIHLWXUH 1 1 1 &KDQJHVGXULQJWKH\HDU  %DODQFH DW WKH HQG RI WKH 69,771,900 1,396 69,771,900 1,396 69,771,900 1,396 UHSRUWLQJSHULRG

 Annual Report 2016-2017



 Total Total Equity - 433 (13,728) (5,465)    (0) - 111   Non- 73,818 228,689 Interests Controlling - - -    - - Total (13,728) -     7,767 (10,526) (2,760) 433 - (0)-       (5,465) - Foreign Reserve Currency Translation Translation -     (23,271) 154,871 -     - - - income [Note 1] Equity Income Instruments through Other Comprehensive -   -     (4,873) (8,863)         - - -   Other reserves (Statutory reserve fund) - earnings Retained - 7,767 -    9 - 9           433 - 433 (5,465) - General Reserve -   - -   3,800 (3,800)  - - - Stock Options Employees Outstanding - -      -          - - - Attributable to equity holders of The Bombay Burmah Trading Corporation Limited Attributable to equity holders of The Bombay Burmah Trading Reserve Capital Redemption Reserves and Surplus [Note 19] Items of Other comprehensive -   -   -     - - - Account Premium Premium Securities - -     - - - -          - - - - - 1,638 4,508 202 40,090 131,555 150 - 1,638 4,780 202 107 43,890 143,778 150 4,262 (8,863) 189,945 106,704 296,649          Reserve Capital Particulars Changes in accounting SROLF\SULRUSHULRG errors Balance at 1 April, 2015 Balance at 31 March, 2016 Dividend Distribution (DDT) Tax ,QG$6$GMXVWPHQWV5HVWDWHGEDODQFHDW WKHEHJLQQLQJRIWKH UHSRUWLQJSHULRG  Dividend adjustment - 3UR¿WIRUWKH\HDU  Other comprehensive income for the year 7RWDOFRPSUHKHQVLYH LQFRPHIRUWKH\HDU during the Transfer year from Surplus in WKHVWDWHPHQWRISUR¿W and loss Additions &DVKGLYLGHQGV of Transfer Revaluation reserve  to Surplus in the VWDWHPHQWRISUR¿W and loss (b) Other equity

 The Bombay Burmah Trading Corporation, Limited

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017 

 Total Total Equity            Non- 142,736 374,745   Interests Controlling -     - Total   232,009    43,567 42,279 85,846         Foreign Reserve Currency Translation Translation   -           income [Note 1] Equity Income Instruments through Other ',1 ',1 Director',1Director ',1 Director Director Comprehensive   4,726 11,198 59,459 50,106 109,565 - 4,726 11,198 15,892 7,827 23,718            150 8,989 2,334 Other reserves (Statutory reserve fund)        earnings Retained 165,067  (32) - 43,535 - 43,567 -            General Reserve - - -         Stock Options Employees Outstanding Amit Chhabra Rajesh Batra Minnie Bodhanwala The Bombay Burmah Trading Corporation, Limited The Bombay Burmah Trading N H Datanwala9LFH3UHVLGHQW&RUSRUDWH DQG&RPSDQ\6HFUHWDU\ &KLHI)LQDQFLDO2I¿FHU Jeh Wadia M L Apte        - - -            Attributable to equity holders of The Bombay Burmah Trading Corporation Limited Attributable to equity holders of The Bombay Burmah Trading Reserve Capital Redemption Reserves and Surplus [Note 19] Items of Other comprehensive - - -           Account Premium Premium Securities -    - -           - - -     1,638 4,780 202 107 43,890 143,778 150 4,262 (8,863) 189,945 106,704 296,649 1,638 5,160 202 300 48,169 Reserve Capital 0D\ th Particulars B S R & Co.LLP For and on behalf of the Board Directors Other comprehensive income for the year 7UDQVIHUVBalance at 31 March, 2017  Total comprehensive Total income for the year 3UR¿WIRUWKH\HDU Restated balance at the beginning of reporting period &XUUHQF\ alignment 6KDUHEDVHG payments 'LYLGHQG 'LVWULEXWLRQ7D[ ''7  $FTXLVLWLRQRID 1RQFRQWUROOLQJ ,QWHUHVW 1&,  'LYLGHQGV  )LUP¶V5HJLVWUDWLRQ1R::Vijay Mathur &,1/0+3/& Ness Wadia A K Hirjee Nusli N Wadia $VSHURXUDWWDFKHGUHSRUWRIHYHQGDWH )RU 0XPEDL 'DWHG Partner Managing Director Chairman Vice Chairman &KDUWHUHG$FFRXQWDQWV 0HPEHUVKLS1R ',1 ',1 ',1

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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171 The Bombay Burmah Trading Corporation, Limited

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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178 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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188 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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st st 2017 2016 Balance Balance MARCH MARCH as at 31 as at 31 5 5

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3 Investments in associates

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9 Other non-current assets

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11 Biological Assets other than bearer plants A. Reconciliation of carrying amount

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 &XUUHQW¿QDQFLDODVVHWV,QYHVWPHQWV

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

14. b Other bank balances

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8QVHFXUHGFRQVLGHUHGJRRG 3UHSDLGH[SHQVHV 1,846 1,156 840 %DODQFHVZLWK*RYHUQPHQWDXWKRULWLHV 9$7 8,973 6,893 4,843 &HQYDW6HUYLFHWD[FUHGLWUHFHLYDEOH $GYDQFHVWRYHQGRUV 21,050 3,000 4,184 Other advances &RQVLGHUHGJRRG 6,408 5,031 5,247 &RQVLGHUHGGRXEWIXO 290 290 290 /HVV3URYLVLRQIRUGRXEWIXODGYDQFHV (290) (290) (290) 38,277 16,080 15,095

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

18 Share capital

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 a Authorised : (TXLW\6KDUHVRI`HDFK 1,500 1,500 1,500  3UHYLRXV\HDU (TXLW\ VKDUHV 7RWDO 1,500 1,500 1,500

b Issued and Subscribed and Paid up:  3UHYLRXV\HDU  (TXLW\VKDUHVIXOO\SDLGXS 1,395 1,395 1,395 )RUIHLWHGVKDUHVDPRXQWSDLGXS 1 1 1 7RWDO 1,396 1,396 1,396 c Reconciliation of number of shares outstanding at the beginning and end of the year : Equity share :

2XWVWDQGLQJDWWKHEHJLQQLQJRIWKH\HDU 69,771,900 69,771,900 69,771,900 (TXLW\ 6KDUHV LVVXHG GXULQJ WKH \HDU LQ FRQVLGHUDWLRQIRUFDVK - - - 2XWVWDQGLQJDWWKHHQGRIWKH\HDU 69,771,900 69,771,900 69,771,900 G 7HUPV5LJKWVDWWDFKHGWRHDFKFODVVHVRIVKDUHV  7HUPV5LJKWVDWWDFKHGWR(TXLW\VKDUHV  7KH&RPSDQ\KDVRQO\RQHFODVVRIHTXLW\VKDUHVZLWKYRWLQJULJKWVKDYLQJDSDUYDOXHRI`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e Shareholders holding more than 5% shares in the company is set out below:

Equity share As at 31 March, 2017 As at 31 March, 2016 As at 1 April, 2015 No. of % No. of % No. of % Shares Holding Shares Holding Shares Holding $UFKZD\,QYHVWPHQW 8,719,290 12.50 13,038,600 18.69 13,038,600 18.69 &RPSDQ\/LPLWHG 1:([SRUW/LPLWHG 12,317,275 17.65 9,817,275 14.07 9,817,275 14.07 6XQÀRZHU,QYHVWPHQWV 8,395,430 12.03 6,576,120 9.43 6,576,120 9.43 7H[WLOHV/LPLWHG 1DSHURO,QYHVWPHQWV 4,208,400 6.03 4,208,400 6.03 4,208,400 6.03 /LPLWHG 0U1XVOL1HYLOOH:DGLD 6,141,505 8.81 6,141,505 8.81 6,141,505 8.81 :DOODFH%URWKHUV7UDGLQJ 5,660,700 8.11 5,660,700 8.11 5,660,700 8.11 ,QGXVWULDO/LPLWHG8.

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

19 Other Reserves

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 &DSLWDOUHVHUYH 1,841 1,841 1,841 &DSLWDO5HGHPSWLRQ5HVHUYH 202 202 202 6HFXULWLHVSUHPLXPUHVHUYH 5,160 4,780 4,508 *HQHUDOUHVHUYH 48,169 43,890 40,090 (PSOR\HHVWRFNRSWLRQ5HVHUYH 300 107 45 &DSLWDO5HVHUYHRQ,QYHVWPHQWLQ (203) (203) (203) VXEVLGLDULHV 6XUSOXVLQ6WDWHPHQWRI3UR¿WDQG/RVV 165,067 143,778 106,910 6WDWXWRU\UHVHUYHIXQG 150 150 150 (TXLW\LQVWUXPHQWVWKURXJKRWKHU 8,989 4,262 9,136 FRPSUHKHQVLYHLQFRPH )RUHLJQFXUUHQF\WUDQVODWLRQUHVHUYH 2,334 (8,863) - 232,009 189,944 162,679

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 'HSRVLWVUHFHLYHGIURPFXVWRPHUV 2,360 2,134 1,996 3D\DEOHWRZDUGVFDSLWDOH[SHQGLWXUH 71 41 38 2WKHUV 5HQWDOGHSRVLW 339 107 - 2,770 2,282 2,034 22 Non-current liabilities- Provisions

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Loans Secured )URP%DQNV 26,570 25,362 13,423 Unsecured (Repayable On Demand) )URP%DQNV 12,211 15,113 16,188 Intercorporate Deposits (Repayable On Demand) - )URP2WKHU3DUWLHV 1,300 4,500 1,000 38,781 44,975 30,611  1RWHV  D  &DVKFUHGLWIURP$[LV%DQN/LPLWHGDVDWst0DUFKLV`1,/ DVDWst0DUFK`/DNKV 1st$SULOLV`/DNKV LVVHFXUHGE\K\SRWKHFDWLRQRISUHVHQWDQGIXWXUHVWRFNVERRNGHEWV DQGRWKHUFXUUHQWDVVHWVRQSDULSDVVXEDVLVDQGDFROODWHUDORQ(ONKLOO(VWDWHV7KHUDWHRILQWHUHVWRQ WKHORDQLVUDQJLQJIURPWR7KHVDLGORDQKDVEHHQUHSDLGGXULQJWKHFXUUHQW\HDU  E  &DVK&UHGLWIURP+')&%DQN/LPLWHGRI`1,/ DVDWst0DUFKLV`/DNKVDQGDVDWst$SULO LV`/DNKV LVVHFXUHGE\K\SRWKHFDWLRQRISUHVHQWDQGIXWXUHVWRFNVERRNGHEWVDQGRWKHU FXUUHQWDVVHWVRQSDULSDVVXEDVLVDQGDFROODWHUDORQ6LQJDPSDWWL(VWDWHV7KHUDWHRILQWHUHVWRQWKH ORDQLVUDQJLQJIURPWR7KHVDLGORDQKDVEHHQUHSDLGGXULQJWKHFXUUHQW\HDU  F  $JULFXOWXUHORDQIURP+')&%DQN/LPLWHGRI`/DNKV DVDWst0DUFKLV`/DNKVDQGDVDW 1st$SULOLV`1,/ LVVHFXUHGE\K\SRWKHFDWLRQRISUHVHQWDQGIXWXUHVWRFNVERRNGHEWVDQGRWKHU FXUUHQWDVVHWVRQSDULSDVVXEDVLVDQGDFROODWHUDORQ6LQJDPSDWWL(VWDWHV7KHUDWHRILQWHUHVWRQWKH ORDQLVUDQJLQJIURPWR

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 7RWDO2XWVWDQGLQJ GXHV RI PLFUR DQG VPDOO 269 400 519 HQWHUSULVHV 7RWDO 2XWVWDQGLQJ GXHV RI FUHGLWRUV RWKHU 78,722 81,359 71,446 WKDQPLFURDQGVPDOOHQWHUSULVHV 78,991 81,759 71,965  $OOWUDGHSD\DEOHVDUHFXUUHQW7KH*URXS¶VH[SRVXUHWRFXUUHQF\DQGOLTXLGLW\ULVNUHODWHGWRWUDGHSD\DEOHV LVGLVFORVHGLQ1RWH    5HIHU1RWHIRUGLVFORVXUHVUHODWHGWRGXHVWR0LFUR6PDOODQG0HGLXP(QWHUSULVHV

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

 &XUUHQW2WKHU¿QDQFLDOOLDELOLWLHV

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 &XUUHQWPDWXULWLHVRIORQJWHUPGHEW 3,838 3,638 7,586 &XUUHQW PDWXULWLHV RI ¿QDQFH OHDVH REOLJDWLRQV 18 24 24 Unpaid dividends 452 400 367 6HFXULW\GHSRVLWV 325 322 368 ,QWHUHVWDFFUXHGDQGQRWGXHRQERUURZLQJV 537 239 253 8QSDLGGHEHQWXUHUHGHPSWLRQEDODQFH 155 112 116 8QFODLPHGGHEHQWXUHLQWHUHVW - 44 46 &UHGLWRUVIRUFDSLWDOJRRGV 3,105 2,418 1,437 ([SHQVHVSD\DEOH 13,787 14,708 17,522 %RRNRYHUGUDIW 992 1,130 1,295 23,209 23,035 29,014 26 Other current liabilities

6WDWXWRU\UHPLWWDQFHV 6,528 6,107 6,119 $GYDQFHVIURPFXVWRPHUV 1,731 1,652 1,777 'HIHUUHG5HYHQXH 1,088 1,558 2,111 9,347 9,317 10,007  7KH GHIHUUHG UHYHQXH UHODWHV WR OR\DOW\ FUHGLW SRLQWV JUDQWHG WR WKH FXVWRPHUV DV SDUW RI D VDOHV WUDQVDFWLRQVDQGKDVEHHQHVWLPDWHGZLWKUHIHUHQFHWRWKHIDLUYDOXHRIWKHSURGXFWVIRUZKLFKWKH\FRXOG EHUHGHHPHG&ORVLQJEDODQFHUHSUHVHQWVWKHHVWLPDWHGOLDELOLW\WRZDUGVXQUHGHHPHGSRLQWV5HIHUEHORZ WKHUHFRQFLOLDWLRQ

3DUWLFXODUV As at As at 31 March, 2017 31 March, 2016 Opening balance 1,558 2,111 'HIHUUHGGXULQJWKH\HDU 1,515 1,580 5HOHDVHGWRWKH6WDWHPHQWRI3UR¿WDQG/RVV (1,985) (2,133) Closing balance 1,088 1,558 27 Short term provisions

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

29 Government grant

As at As at As at 31 March, 2017 31 March, 2016 1 April, 2015 Current 'HIHUUHG JRYHUQPHQW JUDQW IURP 2PDQ 196 216 218 *RYW 196 216 218

Non-current &DSLWDOVXEVLG\ 144 215 286 'HIHUUHG JRYHUQPHQW JUDQW IURP 2PDQ 83 193 243 *RYW 227 408 529 30 Revenue from Operations

As at As at 31 March, 2017 0DUFK Sales of products and Services 6DOHRISURGXFWV LQFOXGLQJ([FLVHGXW\  960,915 891,905 6DOHRIVHUYLFHV 15 17 &XVWRPHUOR\DOW\SURJUDPPH 441 527 961,371 892,449 Other operating revenue ([SRUW%HQH¿WVDQG2WKHU,QFHQWLYHV 422 254 )DLUYDOXDWLRQ*DLQ /RVV RQ%LRORJLFDODVVHW 58 45 6FUDSVDOHV 3,147 2,971 Royalty 253 279 Rental income 59 83 3URYLVLRQVDQGOLDELOLWLHVQRORQJHUUHTXLUHGZULWWHQEDFNQHW 615 - 2WKHUV 5,364 3,739 9,918 7,371

Total 971,289 899,820  1RWH  ,QFOXGHVDQDPRXQWRI`/DNKV 0DUFK`/DNKV WRZDUGV9$7LQFHQWLYHIRUWKH+DMLSXU )DFWRU\%LKDUDQG.KXUGD)DFWRU\2ULVVDLQDFFRUGDQFHZLWKWKH6WDWH,QGXVWULDO3ROLF\RI%LKDUDQG2ULVVD

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

31 Other Income

As at As at 31 March, 2017 31 March, 2016 ,QWHUHVWRQGHSRVLWVZLWKEDQNV 10,437 8,938 'LYLGHQGRQORQJWHUPLQYHVWPHQWVUHODWHGSDUW\ 187 287 1HWJDLQRQVDOHRIFXUUHQWLQYHVWPHQWV - 183 1HWJDLQRQIRUHLJQFXUUHQF\WUDQVDFWLRQV 1,500 1,587 *DLQ ORVV RQIDLUYDOXDWLRQRI¿QDQFLDODVVHWVWKURXJKSUR¿WDQG 5,690 3,837 loss 3UR¿WRQVDOHRIDVVHWV 1,259 - 0DUNWRPDUNHWJDLQRQIRUZDUGFRQWUDFWV - 64 2WKHUQRQRSHUDWLQJLQFRPH 442 1,143 Total Other income 19,515 16,038 32 Cost of materials consumed

5DZ0DWHULDOV&RQVXPHG 491,565 443,209 Total Cost of Raw Material Consumed 491,565 443,209  &KDQJHVLQLQYHQWRULHVRI¿QLVKHGJRRGVDQGZRUNLQSURJUHVV

Opening stock : )LQLVKHGJRRGV LQFOXGLQJVWRFNLQWUDGH 25,824 26,036 6WRFNLQWUDGH 2,025 1,583 :RUNLQSURFHVV 341 390 /HVV Closing stock: )LQLVKHGJRRGV LQFOXGLQJVWRFNLQWUDGH 25,973 25,824 6WRFNLQWUDGH 2,025 2,025 :RUNLQSURFHVV 183 341

Changes in inventories: )LQLVKHGJRRGV LQFOXGLQJVWRFNLQWUDGH (150) 212 6WRFNLQWUDGH - (442) :RUNLQSURFHVV 158 49 ([FLVHGXW\RQLQFUHDVHGHFUHDVHLQVWRFN - - &KDQJHVLQLQYHQWRULHVRI¿QLVKHGJRRGVZRUNLQSURJUHVVDQG (8) (180) Stock in trade  (PSOR\HHEHQH¿WH[SHQVH

6DODULHVDQG:DJHV 41,656 41,105 &RQWULEXWLRQWR3URYLGHQWDQG2WKHU)XQGV 2,500 2,282 6WDII:HOIDUH([SHQVHV 2,011 1,918 (PSOR\HHVWRFNRSWLRQVFKHPH 547 225 *UDWXLW\H[SHQVH - - (PSOR\HHEHQH¿WH[SHQVH 46,714 45,530

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

35 Finance costs

As at As at 31 March, 2017 31 March, 2016 ,QWHUHVWRQERUURZLQJV 4,326 4,331 ,QWHUHVWRQYHKLFOHORDQ 9 1 2WKHUV LQWHUHVW  - 51 )LQDQFHOHDVH 7 12 Finance costs 4,342 4,395 36 Other expenses

6WRUHVDQGVSDUHVFRQVXPHG 3,277 3,605 5HSDLUVDQGPDLQWHQDQFH  %XLOGLQJV 588 557  3ODQWDQGPDFKLQHU\ 1,825 1,673  2WKHUV 3,174 2,980 Rent 4,919 4,173 Rates and taxes 3,772 3,350 ,QVXUDQFH 509 437 3RZHUDQGIXHO 11,653 10,958 )UHLJKWDQGIRUZDUGLQJ 45,272 43,457 /HJDODQGSURIHVVLRQDOFKDUJHV 1,270 1,046 %DGWUDGHUHFHLYDEOHVDGYDQFHVGHSRVLWVZULWWHQRII 38 90 3URYLVLRQIRUGRXEWIXOWUDGHUHFHLYDEOHVDGYDQFHVGHSRVLWV 189 247 6XEFRQWUDFWLQJ 1,276 354 %XVLQHVVSURPRWLRQ 39,665 44,987 3D\PHQWWRDXGLWRUV 248 219 3URFHVVLQJFKDUJHV 44,219 45,696 &RUSRUDWH6RFLDO5HVSRQVLELOLW\ &65 H[SHQGLWXUH 1,646 1,137 1HWORVVRQVDOHRIFXUUHQWLQYHVWPHQWV 933 /RVVRQ¿[HGDVVHWVVROGVFUDSSHGZULWWHQRII QHW  - 918 0DUNWRPDUNHWORVVRQIRUZDUGFRQWUDFW 115 - )RUHLJQH[FKDQJHORVV QHW  81 10 0LVFHOODQHRXVH[SHQVHV 30,266 27,271 194,935 193,165

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

37 Earnings per share (EPS)

 %DVLF(36DPRXQWVDUHFDOFXODWHGE\GLYLGLQJWKHSUR¿WIRUWKH\HDUDWWULEXWDEOHWRHTXLW\KROGHUVRIWKH SDUHQWE\WKHZHLJKWHGDYHUDJHQXPEHURI(TXLW\VKDUHVRXWVWDQGLQJGXULQJWKH\HDU  'LOXWHG(36DPRXQWVDUHFDOFXODWHGE\GLYLGLQJWKHSUR¿WDWWULEXWDEOHWRHTXLW\KROGHUVRIWKHSDUHQW DIWHU DGMXVWLQJIRULQWHUHVWRQWKHFRQYHUWLEOHSUHIHUHQFHVKDUHV E\WKHZHLJKWHGDYHUDJHQXPEHURI(TXLW\ VKDUHVRXWVWDQGLQJGXULQJWKH\HDUSOXVWKHZHLJKWHGDYHUDJHQXPEHURI(TXLW\VKDUHVWKDWZRXOGEH LVVXHGRQFRQYHUVLRQRIDOOWKHGLOXWLYHSRWHQWLDO(TXLW\VKDUHVLQWR(TXLW\VKDUHV L 3UR¿WDWWULEXWDEOHWR(TXLW\KROGHUVRISDUHQW

31 March, 2017 31 March, 2016 3UR¿WDWWULEXWDEOHWRHTXLW\KROGHUVRIWKHSDUHQW &RQWLQXLQJRSHUDWLRQV 43,567 38,623 3UR¿WDWWULEXWDEOHWRHTXLW\KROGHUVRIWKHSDUHQWIRUEDVLF 43,567 38,623 earnings ii. Weighted average number of ordinary shares

,VVXHGRUGLQDU\VKDUHVDW$SULO 69,771,900 69,771,900 :HLJKWHGDYHUDJHQXPEHURIVKDUHVDW0DUFKIRUEDVLF 69,771,900 69,771,900 (36  %DVLFDQG'LOXWHGHDUQLQJVSHUVKDUH

%DVLFHDUQLQJVSHUVKDUH 62.44 55.36 'LOXWHGHDUQLQJVSHUVKDUH 62.44 55.36 38 Deferred tax (a) Movement in deferred tax balances

Net balance Recognised in Net balance April 1, 2016 the statement of 31 March, 2017 SUR¿WDQGORVV during the year 'HIHUUHGWD[DVVHW OLDELOLWLHV  3URSHUW\SODQWDQGHTXLSPHQW     (5,549) (PSOR\HHEHQH¿WV    191 6WDWXWRU\SD\PHQWV  551 4,866 3URYLVLRQV    757 8QDEVRUEHG EXVLQHVV ORVV DQG   690 GHSUHFLDWLRQ 3URSRVHGGLYLGHQG   (2,479) /DQG  1,324 2WKHULWHPV   15 (763) 0LQLPXPDOWHUQDWHWD[ 0$7 FUHGLW    1,190 Tax assets (Liabilities)    227

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

(b) Movement in deferred tax balances

Net balance Recognised in Net balance April 1, 2016 the statement of 31 March, 2017 SUR¿WDQGORVV during the year 'HIHUUHGWD[DVVHW OLDELOLWLHV  3URSHUW\SODQWDQGHTXLSPHQW    (3,296) (PSOR\HHEHQH¿WV    199 6WDWXWRU\SD\PHQWV   4,315 3URYLVLRQV    1,040 8QDEVRUEHG EXVLQHVV ORVV DQG    400 GHSUHFLDWLRQ 3URSRVHGGLYLGHQG   (2,479) /DQG   1,324 2WKHULWHPV   (778) 'HULYDWLYHV    - ,QYHQWRULHV    - /RDQVDQGERUURZLQJV   7 - 'HIHUUHG,QFRPH 5   - 0LQLPXPDOWHUQDWHWD[ 0$7 FUHGLW  1,539 Tax assets (Liabilities)   2,264   7KH*URXSRIIVHWVWD[DVVHWVDQGOLDELOLWLHVLIDQGRQO\LILWKDVDOHJDOO\HQIRUFHDEOHULJKWWRVHWRII FXUUHQWWD[DVVHWVDQGFXUUHQWWD[OLDELOLWLHVDQGWKHGHIHUUHGWD[DVVHWVDQGGHIHUUHGWD[OLDELOLWLHV UHODWHWRLQFRPHWD[HVOHYLHGE\WKHVDPHWD[DXWKRULW\   6LJQL¿FDQW PDQDJHPHQW MXGJHPHQW LV UHTXLUHG LQ GHWHUPLQLQJ SURYLVLRQ IRU LQFRPH WD[ GHIHUUHG LQFRPHWD[DVVHWVDQGOLDELOLWLHVDQGUHFRYHUDELOLW\RIGHIHUUHGLQFRPHWD[DVVHWV7KHUHFRYHUDELOLW\ RIGHIHUUHGLQFRPHWD[DVVHWVLVEDVHGRQHVWLPDWHVRIWD[DEOHLQFRPHE\HDFKMXULVGLFWLRQLQZKLFK WKHUHOHYDQWHQWLW\RSHUDWHVDQGWKHSHULRGRYHUZKLFKGHIHUUHGLQFRPHWD[DVVHWVZLOOEHUHFRYHUHG   F  8QUHFRJQLVHGGHIHUUHGWD[DVVHWVOLDELOLWLHV   $VDW0DUFKXQGLVWULEXWHGHDUQLQJRIVXEVLGLDULHVDPRXQWHGWR`/DNKV 0DUFK `/DNKV0DUFK`/DNKV 7KHFRUUHVSRQGLQJGHIHUUHGWD[OLDELOLW\RI `/DNKV 0DUFK`/DNKV0DUFK`/DNKV ZDVQRWUHFRJQLVHG EHFDXVHWKH&RPSDQ\FRQWUROVWKHGLYLGHQGSROLF\RILWVVXEVLGLDULHVLHWKH&RPSDQ\FRQWUROVWKH WLPLQJRIUHYHUVDORIWKHUHODWHGWD[DEOHWHPSRUDU\GLIIHUHQFHVDQGPDQDJHPHQWLVVDWLV¿HGWKDWWKH\ ZLOOQRWUHYHUVHLQWKHIRUHVHHDEOHIXWXUH

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

Tax losses carried forward

Financial Nature of loss As at Expiry date As at Expiry date year 31 March 2017 31 March 2016  8QDEVRUEHG 310 No limit GHSUHFLDWLRQ

 %XVLQHVVORVV 1,208 upto FY 2018-19 -- 60 upto FY 2021-22 -- 339 upto FY 2023-24 339 upto FY 2023-24 /RQJ7HUP 19 upto FY 2021-22 &DSLWDOORVV 8QDEVRUEHG 3,228 No limit 684 No limit GHSUHFLDWLRQ

 %XVLQHVVORVV 70 upto FY 2020-21 1,091 upto FY 2024-25 /RQJ7HUP 4 upto FY 2021-22 &DSLWDOORVV 8QDEVRUEHG 1,661 No limit GHSUHFLDWLRQ 39 Tax reconciliation Tax expense

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Particulars As at As at 31 March, 2017 31 March, 2016 &XUUHQWLQFRPHWD[ 40,352 39,824 &XUUHQWWD[UHODWLQJWRHDUOLHU\HDUV (36) - 'HIHUUHGWD[H[SHQVH 2,035 433 7D[H[SHQVHIRUWKH\HDU 42,387 40,257

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

E  $PRXQWVUHFRJQLVHGLQRWKHUFRPSUHKHQVLYHLQFRPH

Particulars For the year ended 31 March, 2017 For the year ended 31 March, 2016 Before Tax Net of Before tax Tax Net of tax H[SHQVH  tax (expense)/ tax EHQH¿W benefit Items that will not be UHFODVVL¿HGWRSUR¿WRU loss 5HPHDVXUHPHQWVRIWKH (48) 8 (40) (115) 32 (83) GH¿QHGEHQH¿WSODQV (TXLW\,QVWUXPHQWV 4,726 4,726 (4,873) (4,873) WKURXJK2WKHU &RPSUHKHQVLYH,QFRPH ,WHPVWKDWZLOOEH UHFODVVL¿HGWRSUR¿WRU loss ([FKDQJHGLIIHUHQFHVLQ - - (8,863) (8,863) WUDQVODWLQJWKH¿QDQFLDO VWDWHPHQWVRIDIRUHLJQ RSHUDWLRQ 4,678 8 4,686 (13,852) 32 (13,820) F  5HFRQFLOLDWLRQRIHIIHFWLYHWD[UDWH

Particulars As at As at 31 March, 2017 31 March, 2016 3UR¿WEHIRUHWD[ 128,197 119,455 7D[XVLQJWKHFRPSDQ\¶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¿WDQG/RVV 42,387 40,257

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

 (PSOR\HHEHQH¿WV

A 'H¿QHGFRQWULEXWLRQSODQV 7KH*URXSKDVUHFRJQLVHGDQDPRXQWRI`/DNKV 0DUFK`/DNKV DVH[SHQVHV XQGHUWKHGH¿QHGFRQWULEXWLRQSODQVLQWKHVWDWHPHQWRISUR¿WDQGORVVIRUWKH\HDU As at As at 31 March, 2017 31 March, 2016 %HQH¿W &RQWULEXWLRQWR (PSOR\HU¶V&RQWULEXWLRQWR*RYHUQPHQW3URYLGHQW)XQG 838 781 (PSOR\HU¶V&RQWULEXWLRQWR)DPLO\3HQVLRQ)XQG 490 455 (PSOR\HU¶V&RQWULEXWLRQWR6XSHUDQQXDWLRQ)XQG 80 88 3HQVLRQ)XQG6FKHPH 67 64 /DERXU:HOIDUH)XQG - - (6, 61 65 Total 1,536 1,454 :LWKUHJDUGWRWKHDVVHWVRIWKH)XQGDQGWKHUHWXUQRQWKHLQYHVWPHQWVWKH*URXSGRHVQRW H[SHFWDQ\GH¿FLHQF\LQWKHIRUHVHHDEOHIXWXUH B 'H¿QHGEHQH¿WSODQV*UDWXLW\ 1 5HFRQFLOLDWLRQRIQHWGH¿QHGEHQH¿WDVVHW OLDELOLW\ (a) 5HFRQFLOLDWLRQRISUHVHQWYDOXHRIGH¿QHGEHQH¿WREOLJDWLRQ 2EOLJDWLRQVDW$SULO 4,969 4,698 6HUYLFHFRVW 378 338 ,QWHUHVWFRVW 375 360 %HQH¿WVVHWWOHG (398) (396) $FWXDULDO JDLQ   ORVV GXH WR GHPRJUDSKLF DVVXPSWLRQ 20 (35) changes $FWXDULDO JDLQ ORVVGXHWR¿QDQFLDODVVXPSWLRQV 200 49 $FWXDULDO JDLQ ORVVGXHWRH[SHULHQFHDGMXVWPHQWV (63) (44) Obligations at the year end 31 March 5,482 4,969 (b) 5HFRQFLOLDWLRQRISUHVHQWYDOXHRISODQDVVHW 3ODQDVVHWVDW$SULODWIDLUYDOXH 4,499 4,214 ([SHFWHGUHWXUQRQSODQDVVHWV 348 334 5HWXUQRQDVVHWVH[FOXGLQJLQWHUHVWLQFRPH 116 (54) &RQWULEXWLRQV 689 389 %HQH¿WVHWWOHG (398) (384) Plan assets as at 31 March at fair value 5,253 4,499 (c) 5HFRQFLOLDWLRQRIQHWGH¿QHGEHQH¿WDVVHW OLDELOLW\  2016-17  3UHVHQWYDOXHRIREOLJDWLRQDVDW0DUFK 5,482 4,969 3ODQDVVHWVDW0DUFKDWIDLUYDOXH 5,253 4,499 $PRXQWUHFRJQLVHGLQEDODQFHVKHHWDVVHW OLDELOLW\ (229) (471)

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

As at As at 31 March, 2017 31 March, 2016 2 ([SHQVHVUHFRJQLVHGLQWKHVWDWHPHQWRISUR¿WDQGORVVXQGHU(PSOR\HHEHQH¿WH[SHQVH &XUUHQWVHUYLFHFRVW 378 338 ,QWHUHVWFRVW 375 360 ,QWHUHVWLQFRPH (156) (147) ([SHFWHGUHWXUQRQSODQDVVHWVDQG&RQWULEXWLRQ (192) (187) 1HWFRVW 429 456 3 Remeasurements recognised in statement of Other comprehensive income $FWXDULDO JDLQ ORVVRQGH¿QHGEHQH¿WREOLJDWLRQ 156 (32) 5HWXUQRQSODQDVVHWVH[FOXGLQJLQWHUHVWLQFRPH (116) 55 /RVV UHFRJQLVHG LQ VWDWHPHQW RI RWKHU FRPSUHKHQVLYH 40 23 income 4 Amount recognised in the balance sheet: 2SHQLQJDVVHW OLDELOLW\ 1,044 979 ([SHQVHDVDERYH 265 287 (PSOR\HUVFRQWULEXWLRQSDLG (328) (222) &ORVLQJ DVVHW OLDELOLW\ 981 1,044 5 Experience adjustment: 2QSODQOLDELOLWLHV JDLQ ORVV (113) 82 2QSODQDVVHWVJDLQ ORVV 22 21 6 Investment details A The Bombay Burmah Trading Corporation Limited % Invested % Invested *RYHUQPHQWRI,QGLDVHFXULWLHV 1.77% 2.21% 6WDWH*RYHUQPHQWVHFXULWLHV 0.00% 0.05% 3XEOLFVHFWRUVHFXULWLHV 1.69% 2.00% ,QVXUHU0DQDJHG)XQGV 87.69% 82.16% 2WKHUV 8.85% 13.58% 100.00% 100.00% B Britannia Industries Limited and its subsidiaries *RYHUQPHQWRI,QGLDVHFXULWLHV 2.88% 3.45% 6WDWH*RYHUQPHQWVHFXULWLHV 25.02% 22.31% 3XEOLFVHFWRUVHFXULWLHV 35.50% 36.25% 0XWXDOIXQGV 3.09% 2.56% Special deposit scheme 2.89% 2.87% 2WKHUV 30.62% 32.56% 100.00% 100.00%

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

As at As at 31 March, 2017 31 March, 2016 7 Principal actuarial assumptions A The Bombay Burmah Trading Corporation Limited 'LVFRXQWIDFWRU>5HIHUQRWH L EHORZ@ 7.40% 7.80% (VWLPDWHG UDWH RI UHWXUQ RQ SODQ DVVHWV >5HIHU QRWH LL  7.80% 10.00% EHORZ@ $WWULWLRQUDWH $JHUHODWHG 6HUYLFHUHODWHG  \HDUVDQGDERYH 6.00% 3.00% %HORZ\HDUV 6.00% 3.00% 6DODU\HVFDODWLRQUDWH 5.50% 5.00% 5HWLUHPHQWDJH LQ\HDUV 58 58 B Britannia Industries Limited and its subsidiaries 'LVFRXQWIDFWRU>5HIHUQRWH L EHORZ@ 6.90% 7.56% (VWLPDWHGUDWHRIUHWXUQRQSODQDVVHWV 6.90% 7.56% >5HIHUQRWH LL EHORZ@ $WWULWLRQUDWH $JHUHODWHG 6HUYLFHUHODWHG  \HDUVDQGDERYH 4.00% 4.00% %HORZ\HDUV 16.00% 16.00% 6DODU\HVFDODWLRQUDWH 5.00% 5.00% 5HWLUHPHQWDJH LQ\HDUV 58.00 58.00 8 0DWXULW\SUR¿OHRIGH¿QHGEHQH¿WREOLJDWLRQ :LWKLQ\HDU 607 344 \HDUV 1,621 810 \HDUVDQGDERYH 2,550 612 4,778 1,765 9 :HLJKWHGDYHUDJHGXUDWLRQRIGH¿QHGEHQH¿WREOLJDWLRQ 10 10 (years) 10 Sensitivity analysis I Discount rate 'LVFRXQWUDWHEDVLVSRLQWV 5,365 4,883 ,PSDFWRQGH¿QHGEHQH¿WREOLJDWLRQ -0.17% 0.13% 'LVFRXQWUDWHEDVLVSRLQWV 5,549 4,998 ,PSDFWRQGH¿QHGEHQH¿WREOLJDWLRQ 6.25% 6.46% II Salary increase rate 6DODU\UDWHEDVLVSRLQWV 5,521 5,052 ,PSDFWRQGH¿QHGEHQH¿WREOLJDWLRQ 4.81% 4.70% 6DODU\UDWHEDVLVSRLQWV 5,389 4,825 ,PSDFWRQGH¿QHGEHQH¿WREOLJDWLRQ -1.35% -1.44% III Attrition rate $WWULWLRQUDWHEDVLVSRLQWV 5,600 4,963 ,PSDFWRQGH¿QHGEHQH¿WREOLJDWLRQ 0.24% -0.59% $WWULWLRQUDWHEDVLVSRLQWV 5,593 4,894 ,PSDFWRQGH¿QHGEHQH¿WREOLJDWLRQ -1.72% -2.14%

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As at As at 31 March, 2017 31 March, 2016 IV Mortality rate 0RUWDOLW\UDWHLQFUHDVHVE\ 2,706 2,494 ,PSDFWRQGH¿QHGEHQH¿WREOLJDWLRQ -1.14% -1.29% C 'H¿QHGEHQH¿WSODQV3URYLGHQWIXQG 3UHVHQWYDOXHRIEHQH¿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¿WV&RPSHQVDWHGDEVHQFHV   7KH&RPSDQ\¶VOLDELOLW\RQDFFRXQWRIFRPSHQVDWHGDEVHQFHVLVQRWIXQGHGDQGKHQFHWKHGLVFORVXUHV UHODWLQJWRWKHSODQQHGDVVHWVDUHQRWDSSOLFDEOH   L 7KHGLVFRXQWUDWHLVEDVHGRQWKHSUHYDLOLQJPDUNHW\LHOGRQ*RYHUQPHQW6HFXULWLHVDVDWWKH EDODQFHVKHHWGDWHIRUWKHHVWLPDWHGWHUPRIREOLJDWLRQV   LL 7KHH[SHFWHGUHWXUQRQSODQDVVHWVLVGHWHUPLQHGFRQVLGHULQJVHYHUDODSSOLFDEOHIDFWRUVPDLQO\ WKHFRPSRVLWLRQRIWKHSODQDVVHWVKHOGDVVHVVHGULVNVRIDVVHWPDQDJHPHQWKLVWRULFDOUHVXOWV RIWKHUHWXUQRQSODQDVVHWVDQGWKH*URXS¶VSROLF\IRUSODQDVVHWPDQDJHPHQW   LLL 7KH HVWLPDWH RI IXWXUH VDODU\ LQFUHDVHV FRQVLGHUHG LQ DFWXDULDO YDOXDWLRQ WDNHV LQWR DFFRXQW LQÀDWLRQ VHQLRULW\ SURPRWLRQ DQG RWKHU UHOHYDQW IDFWRUV VXFK DV VXSSO\ DQG GHPDQG LQ WKH HPSOR\PHQWPDUNHW   LY 7KHGLVFORVXUHDERYHLQFOXGHVDPRXQWVIRUERWK%ULWDQQLD,QGXVWULHV/LPLWHG&RYHQDQWHG6WDII¶ *UDWXLW\)XQGDQG%ULWDQQLD,QGXVWULHV/LPLWHG1RQ&RYHQDQWHG6WDII¶*UDWXLW\)XQGDQGDPRXQWV UHODWLQJWRRWKHUJURXSFRPSDQLHV    7KHFKDUJHIRUUHWLUHPHQWEHQH¿WVRI$O6DOODQ)RRG,QGXVWULHV&R6$2&DQG6WUDWHJLF)RRG ,QWHUQDWLRQDO&R//&'XEDLKDVEHHQFDOFXODWHGLQDFFRUGDQFHZLWKWKHODZVDSSOLFDEOHLQWKHLU FRXQWULHVRILQFRUSRUDWLRQZKLFKDPRXQWVWR`/DNKV 3UHYLRXV

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

41 Leases: (a) Operating Lease:

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Sr. Particulars 31 Mar 2017 31 Mar 2016 No L 1RWODWHUWKDQRQH\HDU 305 320 LL /DWHUWKDQRQH\HDUDQGQRWODWHUWKDQ¿YH\HDUV 870 978 LLL 0RUHWKDQ¿YH\HDUV 65 303 1,240 1,601

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Particulars 2016-17 2015-16 Minimum lease Present value of Minimum lease Present value of payments minimum lease payments minimum lease payments payments 1RW ODWHU WKDQ  24 18 35 19 \HDU /DWHUWKDQ\HDU 46 44 57 54 70 62 91 73

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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Carrying amount Fair value 31 March, 2017 Amortised `LQ/DNKV FVTPL FVTOCI Total Level 1 Level 2 Level 3 Total Cost Financial assets &DVK DQG FDVK - - 15,611 15,611 - - - - HTXLYDOHQWV %DQN EDODQFHV RWKHU - - 6,631 6,631 - - - - WKDQ LLL DERYH 1RQFXUUHQW - 294 31,379 31,673 294 - - 294 investments &XUUHQWLQYHVWPHQWV 24,310 24,310 24,310 - - 24,310 /RQJWHUP ORDQV DQG - - 4,825 4,825 - - - - advances 6KRUWWHUP ORDQV DQG - - 91,222 91,222 - - - - advances 7UDGH DQG RWKHU - - 23,074 23,074 - - - - UHFHLYDEOHV 2WKHU 1RQFXUUHQW - - 1,469 1,469 - - - - ¿QDQFLDODVVHW 2WKHU &XUUHQW - - 3,020 3,020 - - - - ¿QDQFLDODVVHW 24,310 294 177,231 201,835 24,604 - - 24,604 )LQDQFLDOOLDELOLWLHV /RQJWHUPERUURZLQJV - - 58,743 58,743 - - - - 6KRUW WHUP - - 38,781 38,781 - - - - ERUURZLQJV 7UDGH DQG RWKHU - - 78,991 78,991 - - - - SD\DEOHV 2WKHU 1RQ&XUUHQW - - 2,769 2,769 - - - - ¿QDQFLDOOLDELOLWLHV 2WKHU &XUUHQW - - 23,209 23,209 - - - - ¿QDQFLDOOLDELOLWLHV - - 202,493 202,493 - - - -

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

Carrying amount Fair value 31 March, 2016 Amortised `LQ/DNKV FVTPL FVTOCI Total Level 1 Level 2 Level 3 Total Cost Financial assets &DVK DQG FDVK - - 12,985 12,985 - - - - HTXLYDOHQWV %DQN EDODQFHV RWKHU - - 556 556 - - - - WKDQ LLL DERYH 1RQFXUUHQW - 14,412 37,195 51,607 14,412 - - 14,412 investments &XUUHQWLQYHVWPHQWV 54,086 - - 54,086 54,086 - - 54,086 /RQJWHUP ORDQV DQG - - 20,509 20,509 - - - - advances 6KRUWWHUP ORDQV DQG - - 55,039 55,039 - - - - advances 7UDGH DQG RWKHU - - 23,181 23,181 - - - - UHFHLYDEOHV 2WKHU 1RQFXUUHQW - - 4,050 4,050 - - - - ¿QDQFLDODVVHW 'HULYDWLYHDVVHWV 115 - - 115 - 115 - 115 2WKHU &XUUHQW ¿QDQFLDO - - 2,420 2,420 - - - - asset 54,201 14,412 155,935 224,548 68,498 115 - 68,613 Financial liabilities /RQJWHUPERUURZLQJV - - 30,624 30,624 - - - - 6KRUWWHUPERUURZLQJV - - 44,975 44,975 - - - - 7UDGH DQG RWKHU - - 81,759 81,759 - - - - SD\DEOHV 2WKHU 1RQ&XUUHQW - - 2,282 2,282 - - - - ¿QDQFLDOOLDELOLWLHV 2WKHU &XUUHQW ¿QDQFLDO - - 23,036 23,036 - - - - OLDELOLWLHV - - 182,676 182,676 - - - -

 The Bombay Burmah Trading Corporation, Limited

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

1 April, 2015 Carrying amount Fair value

`LQ/DNKV FVTPL FVTOCI Amortised Total Level 1 Level 2 Level 3 Total Cost Financial assets &DVK DQG FDVK - - 14,501 14,501 - - - - HTXLYDOHQWV %DQN EDODQFHV RWKHU - - 17,020 17,020 - - - - WKDQ LLL DERYH 1RQFXUUHQW - 19,313 - 27,351 19,313 - - 19,313 investments &XUUHQWLQYHVWPHQWV 56,105 - - 56,105 56,105 - - 56,105 /RQJWHUP ORDQV DQG - - 1,347 1,347 - - - - advances 6KRUWWHUP ORDQV DQG - - 42,037 42,037 - - - - advances 7UDGH DQG RWKHU - - 20,230 20,230 - - - - UHFHLYDEOHV 2WKHU 1RQFXUUHQW - - 4,091 4,091 - - - - ¿QDQFLDODVVHW 'HULYDWLYHDVVHWV 51 - - 51 - 51 - 51 2WKHU &XUUHQW ¿QDQFLDO - - 1,686 1,686 - - - - asset 56,156 19,313 100,912 184,419 75,418 51 - 75,469 Financial liabilities /RQJWHUPERUURZLQJV - - 49,683 49,683 - - - - 6KRUWWHUPERUURZLQJV - - 30,611 30,611 - - - - 7UDGH DQG RWKHU - - 71,965 71,965 - - - - SD\DEOHV 2WKHU 1RQ&XUUHQW - - 2,034 2,034 - - - - ¿QDQFLDOOLDELOLWLHV 2WKHU &XUUHQW ¿QDQFLDO - - 29,014 29,014 - - - - OLDELOLWLHV - - 183,307 183,307 - - - -

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

B. Measurement of fair values

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C. Financial risk management

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 The Bombay Burmah Trading Corporation, Limited

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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Particulars Carrying amount (` in Lakhs) 31 March, 2017 31 March, 2016 GD\V 14,498 10,799 GD\V 3,405 5,230 GD\V 3,495 5,136 GD\V 647 1,809 0RUHWKDQ'D\V 2,374 1,518 3URYLVLRQV (1,345) (1,311) Net debtors as at the reporting date 23,074 23,181    0DQDJHPHQWEHOLHYHVWKDWWKHXQLPSDLUHGDPRXQWVWKDWDUHSDVWGXHE\PRUHWKDQGD\VDUH VWLOOFROOHFWLEOHLQIXOOEDVHGRQKLVWRULFDOSD\PHQWEHKDYLRXUDQGH[WHQVLYHDQDO\VLVRIFXVWRPHU FUHGLWULVNLQFOXGLQJXQGHUO\LQJFXVWRPHUV¶FUHGLWUDWLQJVLIWKH\DUHDYDLODEOH

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

Cash and cash equivalents

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 The Bombay Burmah Trading Corporation, Limited

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

Currency risk

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

31 March, 31 March, 31 March, 31 March, 31 March, 31 March, 2016 2016 2016 2016 2016 2016 `LQ/DNKV USD-INR SGD-INR RM-INR GBP-INR PKR-INR EUR-INR equivalent equivalent equivalent equivalent equivalent equivalent Financial assets &DVKDQGFDVKHTXLYDOHQWV 1,507 2,438 2 213 - 11 1RQFXUUHQWLQYHVWPHQWV 125 - - - - - &XUUHQWLQYHVWPHQWV 16,244 734 - - - - 6KRUWWHUPORDQVDQGDGYDQFHV 68 191 1 - 77 - 7UDGHDQGRWKHUUHFHLYDEOHV 1,084 743 - - - - 2WKHU&XUUHQW¿QDQFLDODVVHWV 106 - - - - - (A) 19,134 4,106 3 213 77 11

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 Annual Report 2016-2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

44 Capital Management

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017 1 7 18 15 year balance during the 01.04.2015 Maximum outstanding \VXFKSDUWLHV                 year balance during the 31.03.2016 Maximum outstanding

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 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017 44 73 628 286 125 545 102 2017 As at 2,500 1,000 20,455 31 March   Gain Movement on account of fair valuation- 5 11 the year Sold during    year during the Purchased 558 2016 QGORVV As at 1 April     

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017 558 2016 As at 31 March account of fair Movement on valuation- loss the year Sold during year during the Purchased 2015 QGORVV As at 1 April       

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 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017   2016 31 March March 2017                                         Placed Redeemed As at Placed Redeemed As at 31                                       April 2016 1 April 2015 U     KV      \HDUV WR WR Term As at months months months months months Term Term As at 1 WR 15 to 18 WR      Rate of Interest Interest Rate of

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

53 Government grants

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)RUWKH\HDUHQGHG 31 March, 2016 31 March, 2016 &DSLWDOH[SHQGLWXUH 2,170 2,185 5HYHQXHH[SHQGLWXUH 2,614 2,195 4,784 4,380

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

3. Other Related Parties: *R$LUOLQHV ,QGLD /LPLWHG    0DFUR¿O,QYHVWPHQWV/LPLWHG    $UFKZD\,QYHVWPHQW&RPSDQ\/LPLWHG    0U19HQNDWDUDPDQDSSRLQWHGDV&KLHI)LQDQFLDO2I¿FHURQ'HFHPEHU    0U$PODQ'DWWD0DMXPGDUUHOLQTXLVKHGRI¿FHRQ1RYHPEHU  2Q0DUFKWKH&RPSDQ\KDVDFTXLUHGRIWKHYRWLQJVKDUHVRI6XQDQGDUDP)RRGV 3ULYDWH/LPLWHG A'U<637KRUDW 0U$MD\6KDKZHUHDSSRLQWHGDVDGGLWLRQDOGLUHFWRUVRIWKH&RPSDQ\RQ )HEUXDU\ 57 (b) Transactions during the year and outstanding balances at the end of the year

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

`LQ /DNKV  Name of the related Relationship Outstanding balances as at party 31 March 2017 0DUFK $SULO Outstanding amount receivable *R$LUOLQHV ,QGLD  2WKHUUHODWHGSDUW\ 3,870   /LPLWHG 0DFUR¿O,QYHVWPHQWV 2WKHU5HODWHG 6,880   /LPLWHG 3DUWLHV $UFKZD\,QYHVWPHQWV 2WKHUUHODWHGSDUW\ -   /LPLWHG .ODVVLN)RRGV3ULYDWH Associate 8   /LPLWHG 1DODQGD%LVFXLWV Associate 87   &RPSDQ\/LPLWHG 6XQDQGDUDP)RRGV Associate 235  3ULYDWH/LPLWHG 0U$VKRN3DQMZDQL .H\0DQDJHPHQW -   3HUVRQQHO 0U1LWLQ+'DWDQZDOD .H\0DQDJHPHQW 12   3HUVRQQHO 0U$PLW&KKDEUD .H\0DQDJHPHQW 8  3HUVRQQHO 0U1HVV:DGLD .H\0DQDJHPHQW 62   3HUVRQQHO

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

`LQ /DNKV  Name of the related Relationship Outstanding balances as at party 31 March 2017 0DUFK $SULO Investments (including goodwill) /RWXV9LQL\RJ3ULYDWH Associate 35   /LPLWHG 5RVKQDUD,QYHVWPHQW  Associate 4   7UDGLQJ&RPSDQ\3ULYDWH /LPLWHG &LQFLQQDWL,QYHVWPHQW  Associate 4   7UDGLQJ&RPSDQ\3ULYDWH /LPLWHG /LPD,QYHVWPHQW  Associate 4  5 7UDGLQJ&RPSDQ\3ULYDWH /LPLWHG 6KDGKDN,QYHVWPHQW  Associate 4  5 7UDGLQJ3ULYDWH/LPLWHG 06,/,QYHVWPHQWV3ULYDWH Associate 4   /LPLWHG 0HGLFDO0LFURWHFKQRORJ\ Associate 4   /LPLWHG +DUYDUG3ODQWDWLRQV Associate 4 5 5 /LPLWHG 3ODFLG3ODQWDWLRQV/LPLWHG Associate 4 5 5 .ODVVLN)RRGV3ULYDWH Associate 102   /LPLWHG 1DODQGD%LVFXLWV Associate 44   &RPSDQ\/LPLWHG 6XQDQGDUDP)RRGV Associate 73  3ULYDWH/LPLWHG 9DVDQD$JUH[DQG+HUEV Associate -  1 3ULYDWH/LPLWHG

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

C Compensation paid to Key Managerial Personnel

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 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

58 Segment reporting

A. General Information

(a) Factors used to identify the entity’s reportable segments, including the basis of organisation

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Primary Segment (Operating Segment): Based Secondary Segment (Geographical Segment) on Product lines of company Based on geographical area of operation of company 3ODQWDWLRQ7HD 3ODQWDWLRQ&RIIHH $XWR(OHFWULFDO&RPSRQHQWV Investments India and Outside India +HDOWKFDUH :HLJKWLQJ3URGXFW 5HDO(VWDWH )RRG%DNHU\ 'DLU\3URGXFWV

 The Bombay Burmah Trading Corporation, Limited

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

 Total Total Segments

-        Bakery Bakery & Dairy Products Products

-   Horticulture Food -                       -  6,764  838,871  875,496 6,764 838,871 875,496 68 12,800 16,234 1,275 138,299 171,701 384 11,341 189 21,917 - 23,519     Estate     - - - 83 - 6,304 730,131 - 767,539         Investments Real Investments

-   - 130 5 171 171 Products Products Weighing Weighing

-      Auto * Electric Component

-   5 Care Health

-   Coffee Plantation-

-                  Tea Tea                   Particulars Plantation- Particulars ,QWHUVHJPHQW7RWDO,QWHUHVW,QFRPH  Segment expenses 6HJPHQWSUR¿W ORVV      Segment assets   6HJPHQWOLDELOLWLHV   'HSUHFLDWLRQDQG DPRUWL]DWLRQ   &DSLWDOH[SHQGLWXUH             Revenue ([WHUQDO&XVWRPHUV year Previous  year Previous  14,964 year Previous  2,493  year Previous 2,387 - 14,964 year Previous 9,841 2,493 year Previous 300 176 2,387 17,227 year Previous 9,841 56 3,020 - (1,963) year Previous 176 1,884 9 (471) 12,466 8,700 year Previous 8,808 - 512 75 26,573 189 year Previous 1,249 1,216 416 10 6,640 235 - (4) 188 2,917 289 259 498 4,898 2,917 215,662 - 380 2,639 12 (83) 53 9,585 216 9 528 85,844 - 121,540 343,183 12 397 802,922 - - B. Information about reportable segments  )LJXUHVLQEROGDQGLWDOLFVUHSUHVHQWSUHYLRXV\HDU¿JXUHV

 Annual Report 2016-2017

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

B. Reconciliations of information on reportable segments to Ind AS

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Particulars For the year ended For the year ended 31 March, 2017 31 March, 2016 (a) Revenue  7RWDOUHYHQXHIRUUHSRUWDEOHVHJPHQWV 990,381 891,731 Unallocated 422 24,128 Total revenue 990,803 915,858 E  3UR¿WORVVEHIRUHWD[  7RWDOSUR¿WEHIRUHWD[IRUUHSRUWDEOHVHJPHQWV 134,033 124,191 Unallocated amounts (1,823) (365)  /HVV,QWHUHVW (4,342) (4,395)  /HVV7D[HV (42,351) (40,257)  /HVV1RQFRQWUROOLQJ,QWHUHVW (42,279) (40,575)  /HVV6KDUHRISUR¿WIURPDVVRFLDWHV 25 22  7RWDOSUR¿WDIWHUWD[IURPRSHUDWLRQV 43,568 38,621 (c) Assets  7RWDODVVHWVIRUUHSRUWDEOHVHJPHQWV 606,670 343,183  $VVHWVIRURWKHUVHJPHQWV  2WKHUXQDOORFDWHGDPRXQWV 6,528 171,593 Total assets 613,198 514,776 (d) Liabilities  7RWDOOLDELOLWLHVIRUUHSRUWDEOHVHJPHQWV 340,040 171,701  2WKHUXQDOORFDWHGDPRXQWV 39,753 151,735 Total liabilities 379,793 323,436

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

C. Geographic information

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Geography For the year ended For the year ended 31 March, 2017 31 March, 2016 I Revenue India 971,769 883,355  2WKHUV 19,034 32,503 Total Revenue 990,803 915,858 II Non-current Assets * India 154,310 94,418  2WKHUV 146,083 119,957 Total Non-current Assets 300,392 214,375

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED MARCH 31, 2017

60 Financial summary of material associates

a. Investment in The Bombay Dyeing & Manufacturing Company Limited (‘BDMC’)

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 Annual Report 2016-2017

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6LJQDWXUHRIPHPEHU 6LJQDWXUHRI3UR[\KROGHU V PLANTATIONS FOODS

SINCE 1863 SINCE 1918

TEXTILES REAL ESTATE

SINCE 1879 SINCE 2011

AVIATION ENGINEERING & CHEMICALS

SINCE 2005 SINCE 1960 SINCE 1954 If undelivered, please return to :

The Bombay Burmah Trading Corporation, Ltd. 9, Wallace Street, Fort, Mumbai 400 001

The Group has scaled great heights in innovation and entrepreneurship, inspired by the centuries-old legacy of goodwill and trust. The British Coat of Arms, granted to Nowrosjee Wadia, symbolises this legacy and the Wadia Group’s commitment to advancement and innovation.

The crest is a representation of the Group, its philosophy, beliefs and businesses.

The crest and base of the shield represent the family origins in the shipbuilding industry during the 1700s. The middle and upper parts of the shield depict the Group’s interest in cotton growing and its links with England in the form of the Lancastrian rose. The hand holding the hammer atop the shield VLJQL¿HV LQGXVWULRXVQHVV WRJHWKHU ZLWK ZRUNPDQVKLS DQG VNLOO 7KH VXQ WKDW VXUURXQGV WKH KDQG stands for global recognition and merit.

The moto, IN DEO FIDE ET PERSEVERANTIA means ‘Trust in God and Perseverance’. http://www.wadiagroup.com/