CMYK CMYK ADITYA BIRLA NUVO LIMITED

NUL EOT 2014 REPORT -2015 ANNUAL

NUVO

Aditya Birla Nuvo Limited Corporate Finance Division A-4, Aditya Birla Centre, S.K. Ahire Marg, Worli, 400 030. Telephone+91 22 66525000, 24995000 Fax +91 22 66525821, 24995821 E-mail : [email protected], [email protected] Registered Office & Investor Service Centre Indian Rayon Compound, Veraval – 362 266, Gujarat Telephone+91 2876 245711, 248629/248495 Fax +91 2876 243220 E-mail : [email protected] Website : www.adityabirlanuvo.com, www.adityabirla.com Thomson Press CMYK

NUVO ADITYA BIRLA NUVO LIMITED & ITS SUBSIDIARIES / JOINT VENTURES*

ADITYA BIRLA NUVO LIMITED : Fashion & Lifestyle, Manufacturing (Agri, Caustic Soda and Allied Chemicals, Insulators, Viscose Filament Yarn) Textile. I) FINANCIAL SERVICES Subsidiaries I Birla Sun Life Insurance Company Limited : Life Insurance [JV with Sun Life Financial Inc of Canada] G Birla Sun Life Pension Management Limited : Management of Pension Fund under NPS Scheme I Aditya Birla Financial Services Limited (“ABFSL”) (formerly Aditya Birla Financial Services Private Limited) : Core Investment Company G Aditya Birla Capital Advisors Private Limited : Private Equity Investment, Advisory & Management Services G Aditya Birla Customer Services Limited : Financial & IT enabled services (formerly Aditya Birla Customer Services Private Limited) G Aditya Birla Finance Limited : NBFC/ Fund Based Lending G Aditya Birla Financial Shared Services Limited : Financial & IT enabled services G Aditya Birla Housing Finance Limited : Housing Finance G Aditya Birla Insurance Brokers Limited : Composite Non-life Insurance Advisory & Broking G Aditya Birla Money Limited : Equity Broking Aditya Birla Commodities Broking Limited : Commodities Broking G Aditya Birla Trustee Company Private Limited : Trustee of Private Equity Fund G Aditya Birla Money Mart Limited : Wealth Management & Distribution Aditya Birla Money Insurance Advisory Services Limited : Life Insurance Advisory- Corporate Agent G Birla Sun Life Asset Management Company Limited [JV with Sun Life Financial Inc of Canada] Birla Sun Life AMC (Mauritius) Limited Aditya Birla Sun Life AMC Limited, Dubai : Asset Management Aditya Birla Sun Life AMC Pte. Limited, Singapore ! International Opportunities Fund - SPC } (formerly known as Aditya Birla Sun Life - SPC : India Advantage Fund Limited G Birla Sun Life Trustee Company Private Limited : Trustee of Birla Sun Life Mutual Fund [JV with Sun Life Financial Inc of Canada] I Aditya Birla Health Insurance Limited : Health Insurance (Proposed) (Proposed JV with MMI Holdings Limited, South Africa)

II) GARMENTS & OTHERS SUBSIDIARIES I Madura Garments Lifestyle Retail Company Limited : Branded Apparel and Accessories I Indigold Trade & Services Limited G Pantaloons Fashion and Retail Limited I Shaktiman Mega Food Park Pvt. Limited I ABNL IT & ITES Limited G Aditya Birla Minacs BPO Private Limited I ABNL Investment Limited

IV) TELECOM (JOINT VENTURE) I Ltd. : Telecommunication Services * As on 14th May, 2015 CMYK CMYK

THE CHAIRMAN’S LETTER TO SHAREHOLDERS Aditya Birla Nuvo Limited - Annual Report 2014-2015

Dear Shareholder,

The global scenario

The year 2014-15 continued to be a challenging year. The global economy growth was 3.4%, unchanged over the previous year. The world’s largest economy, the US saw better growth, while the countries in the Euro zone registered marginal growth. There was a marked slowdown in China, and Japan witnessed near stagnation. The key factors that affected the global economy included a steep decline in oil and commodity prices, and monetary easing by central banks in the US, EU and Japan. The global financial markets experienced heightened volatility, largely due to expectations of a tightening of monetary policy by the US Federal Reserve. The impasse on resolving the debt crisis in Gree