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~ /"'~Ij! Vice President (Corporate Affairs) & ~ Company Secretary

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~ / ® CIN --------VISflKfI INDUSTRIES LlMITED ___ '_Ls_2S_20_TG_ I _98_IP_LC_oo_30_72_ CORP OFF : ' VISAKA TOWER", 1-8-303/69/3, S.P. ROAD, SECUNDERABAD - 500 003. TEL : +91-40-2781 3833, 2781 3835, FAX : +91-40-2781 3837,27891833, www.visaka.co E-mail : [email protected] Ref: VIUSEC/ST-EXlAnnuaIReport-FY19/2019-20/12 Date : 01 .06 .2019 To, National Stock Exchange of India Limited, BSE Limited, th Exchange Plaza, 5 Floor, The Senior General Manager, Plot No. C/1 G Block, Bandra Kurla Complex, Listing Compliances, Floor 25, P. J. Towers, Bandra (East), Mumbai - 400051 Dalal Street, Mumbai - 400001 Scrip Code VISAKAIND Scrip Code 509055 Sub: 2018-19 Annual Report containing Notice of AGM, Explanatory Statement, etc. Dear Sir/s, With reference to above, please find herewith enclosed Annual Report - FY2018-19 along with the Notice of Annual General Meeting (AGM). This is for your information and records please. Thanking you , Yours fa ithfully, ISAKA INDUSTRIES LIMITED '~ I SRINIVAS ~ /"'~ij! Vice President (Corporate Affairs) & ~ Company Secretary Regd. Office & Factory : A.C. Division I, Survey No. 315, Velumala Village, R.C. Puram Mandai, Sanga Reddy District, lS, Pin 502 300. Factory : A.C. Division II : Behind Super Gas, Manlkantham Village, Paramathi-Velur Taluq, Namakkal District, Tamil Nadu, Pin 637 207 . Factory : A.C. Division III : 70/3A, 70/3 , Sahajpur Industrial Area, Nandur Village, Daund Taluka, Pune District, Maharashtra, Pin 412 020 . Factory : A.C. Division IV : Changsole Moun, Bankibundh, G.P. No. 4, Sallbonlblock, Midnapore West, W.B, Pin 721 147. Factory : A.C. Division V : No. 27/1, G. Nagenahalll Village, Kora Hobll, Tumkur, Karnataka, Pin 572138. Factory: A.C. Division VI : ViII. Kannawan, PS Bachrawan, Tehsll MaharaJgunj, Dlst Raebareli, U.P, Pin 229 301. Factory : A.C. Division VII : Survey No. 385, 386, Juliuru M, Chennaropalem (P), Veerulapadu (M), Near Kanchika Cherla, Krishna Dist, A.P, Pin 521181 . Factory : A.C. Division VIII : Piol No. 2006, 1994, Khata No. 450, At·Paramanapur Manejwan, Navamunda Village Sambalpur Dlst, Odlsha, Pin 768 200. Factory : Textile Division : Survey No. 179 & 180, Chiruva Village, Mouda Taluk, Nagpur District, Maharashtra, Pin 441104. Factory : V·Boards Division I : GaJalapuram Village, Peddadevalapally Pos~ Tripuramam Mandai, Near Miryalaguda. Nalgonda Dist, lS, Pin 508 207. Factory : V·Boards Division II : Gate No : 262 to 269, Delwadi Village, Daund Taluq, Pune D l s~ Maharashtra, Pin 412 214. OPPORTUNITY-READY Visaka Industries Limited | Annual Report 2018-19 CONTENTS WELCOME TO OUR 2018-19 ANNUAL REPORT The corporate identity, financial performance, senior management review, operational review, statutory reports, financial statements and notes sections are based on in-depth assessments of our performance across key areas and form part of the Strategic Report. Corporate identity This section will communicate the twelve most important things that readers need to know about Visaka Industries Limited as well as the 02 Corporate identity Company’s corporate journey over the years. Financial performance This section captures the Company’s performance during the past four years on the basis of all the major performance indicators so that 06 Financial performance readers can assess how Visaka has improved year-on-year. Senior management review In this segment, Visaka’s senior management – Joint Managing 08 Joint Managing Director’s review Directors and Chief Financial Officer present their views on their Company’s performance during FY2018-19 and what shareholders can look forward to in the coming years. 10 The CFO’s financial review Operational review 18 Integrated value creation report This section details the Company’s transformation, developments, integrated value report, various strengths, and risk management protocols of Visaka Industries. Readers can also get incisive 22 Review of our business segments insights into the various business segments of the Company, their performance highlights for the year under review, their strengths and their outlooks for FY2019-20. 32 Risk management Statutory reports This segment contains reports which need to be part of the 34 Boards’ report: Company’s annual report in accordance to the guidelines laid down under the Companies Act, 2013. 74 Report on corporate governance Financial statements and notes 86 Auditor’s report This segment contains Visaka’s financial statements and notes prepared in accordance with Ind-AS. 94 Financial statements 135 Corporate information 137 Notice & explanatory statements Forward-looking statement In this Annual Report we have disclosed forward-looking information to enable investors to comprehend our prospects and take informed investment decisions. This report and other statements - written and oral - that we periodically make contain forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward looking statements will be realized, although we believe we have been prudent in assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. At Visaka Industries, being opportunity- ready means… Investing ahead of the curve Protecting the Balance Sheet in a slowdown Enhancing the brand’s respect and recall Leveraging technologies to enhance efficiencies Scaling capacities to address prospective demand growth Seeding tomorrow’s products across a large number of consumers Translating into a CAGR in revenues of 4.4% and a CAGR in PAT of 40.2% in the three years ending 2018-19 Corporate snapshot things you need to know about 12Visaka Industries Values Promoters Vision: Committed to be a ‘credible’, ‘passionate’ and ‘innovative’ solutions- Visaka Industries Limited providing company was established in 1981 by Dr. G. Vivekanand, a first- Mission: To be a complete cost- generation entrepreneur. effective and qualitative building The Company is now being stewarded solutions provider. To identify potential by Mr. G. Vamsi Krishna, son of products, which add value to the societal Dr. G. Vivekanand and Mrs. Saroja Vivekanand. Following his schooling needs. To explore and enhance our in India and Singapore and graduation niche textile markets. To create value and from Purdue University, Mr Vamsi trust among all the stakeholders Krishna worked as the Chief Business Strategist and Whole-time Director Values: Initiative, responsibility and before being elevated to the position accountability. of Joint Managing Director. ¾ Care, compassion and courtesy ¾ Ethical functioning, fairness and Products transparency ¾ Trust, good faith and integrity The Company commenced the manufacture of corrugated Status cement fibre sheets in 1985. The Company diversified into the The Company has grown from being manufacture of synthetic yarns in the seventh-largest cement asbestos 1992 and in 2009, it commenced the product manufacturer in India (by manufacture of V-Next fibre cement volume) in 1996 to the second largest boards. In 2018, the Company today, accounting for a 18% share of launched a solar roofing product (ATUM) to capitalise on the growing the Indian market. The Company is also rooftop solar market. a leader in the twin air-jet spun yarn segment and in the fibre cement board segment. 2 Visaka Industries Limited Annual Report 2018-19 Corporate Financial Senior Operational Statutory Financial statements identity performance management review review reports and notes Sustainability initiative We sold 85 mn sq ft (out of total Portfolio capacity of 130 mn sq ft) of V-Next products, a plywood substitute, saving ~48,400 trees from being The Company’s building felled. products division comprised cement Our eco-friendly roofs helped asbestos sheets that substitute steel sheet roofs, reducing were largely consumed our carbon footprint and generating in rural India, whereas clean energy. Non asbestos products We manufactured sustainable yarns (fibre cement boards and at zero-discharge facilities, ensuring panels) were consumed compliance with environmental in urban and suburban standards and leading to the markets. recycling of ~45 mn PET bottles. The non-asbestos component of the overall business is expected to account for 50% (currently 35%) of overall revenues over the next three years. Presence The Company has a national presence Network with 12 manufacturing locations and is The Company markets headquartered out of products directly to Hyderabad. retailers as opposed to The Company’s building products pursuing the conventional facility possesses an annual distributor-retailer aggregate production capacity methodology, facilitating a of 8,02,000 tonnes of cement superior understanding of asbestos sheets and 1,79,750 marketplace realities. tonnes of fibre cement flat board The Company’s distribution products. It’s yarn spinning plant network comprises >7,000 dealers comprises 2,752 twin
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