DOCSLIB.ORG

Annual Report 2019-20 3 Corporate Overview Statutory Reports Financial Statements

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2019-20 3 Corporate Overview Statutory Reports Financial Statements ACROSS THE PAGES CORPORATE OVERVIEW 02-55 DRIVEN BY VALUES INSPIRED BY THE FUTURE 2 VOLTAS AT A GLANCE 4 VALUE CREATION PROCESS 14 Business Model OUR QUEST FOR SUSTAINABLE PROFITABLE GROWTH 16 Financial Capital BEING OPERATIONALY EXCELLENT IN ALL WE DO 20 Manufactured Capital COVER NOTE BUILDING CUSTOMER DELIGHT 26 The cover features images of our consumers who Intellectual Capital inspire us each day. They constantly drive us to explore FOSTERING A HIGH-PERFORMANCE CULTURE 34 opportunities that help us improve and move closer Human Capital to our goals. With consumer centricity at the core of our business CREATING ENDURING VALUE FOR ALL 40 strategy, the images on the cover resonate our brand Social and Relationship Capital promise of providing comfort and convenience to our STEPPING TOWARDS A LOW CARBON FUTURE 48 consumers across the diversified industries that we Natural Capital operate in. The upward arrow formation captures the direction of our progress fortified by the organisational RISKS AND MITIGATION 52 theme - Driven by Value, Inspired by The Future. Finally, accentuating the visual and thematic appeal, the BOARD OF DIRECTORS 54 subtle use of blue and green tinges across both the CORPORATE MANAGEMENT TEAM 55 front and back cover, reflect our commitment towards building a trusted and healthy brand. STATUTORY REPORTS 56-142 Please fnd our online version at MANAGEMENT DISCUSSION AND ANALYSIS 58 https://voltas.com/inv_fnance HIGHLIGHTS 80 REPORT OF THE BOARD OF DIRECTORS 82 REPORT ON CORPORATE GOVERNANCE 110 BUSINESS RESPONSIBILITY REPORT 133 Scan to download FINANCIAL STATEMENTS 143-315 CONSOLIDATED FINANCIAL STATEMENTS 144 Disclaimer: This document contains statements about expected future events and financials of Voltas Limited, STANDALONE FINANCIAL STATEMENTS 234 which are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the assumptions, predictions and other forward-looking statements may not prove to be accurate. Investor information Readers are cautioned not to place undue reliance on CIN: L29308MH1954PLC009371 forward-looking statements as several factors could cause assumptions, actual future results and events to differ BSE Code: 500575 materially from those expressed in the forward-looking NSE Symbol: VOLTAS statements. Accordingly, this document is subject to the Bloomberg Code: VOLT:Natl disclaimer and qualified in its entirety by the assumptions, qualifications and risk factors referred to in the Management AGM Date: 21 August, 2020 Discussion and Analysis section of this Annual Report. About this Report At Voltas Limited, we are pleased to present our Integrated Annual Report. This is one of our principal communication documents catering to all our stakeholders. This Report contains comprehensive information on our operational and fnancial performance and how these infuence our strategic direction, resulting in our ability to create sustainable value. Our Approach to Reporting Reporting Standards and Through this Report, we aspire to provide Frameworks our stakeholders, an all-inclusive depiction of In this report, we have attempted to bring in the organisation’s value creation ability using more transparency and accountability through both financial and non-financial resources. The the disclosures and information provided Report provides insights of our key strategies, in the initial pages of the Report, following operating environment, material issues the guiding principles of the International mitigation strategies, operating risks and Integrated Reporting Council (IIRC). The other opportunities, governance structure and our statutory reports, including the Director’s approach towards long-term sustainability. Report, Management Discussion and Analysis (MD&A) section, the Corporate Governance Reporting Period, Scope and Report and the Business Responsibility Report, Boundary are in line with the Companies Act, 2013, The reporting period for this Integrated Report Securities Exchange Board of India (Listing is 1 April, 2019 to 31 March, 2020. It provides Obligations and Disclosure Requirements) an overview of our operations and business Regulations, 2015, and the prescribed development activities. The Report, further, Secretarial Standards. covers information on our business segments in India and abroad, along with associated Management Assurance activities that enable short, medium, and long- Our Company’s senior management, under term value creation. supervision of the Managing Director & CEO, has reviewed the Report content. The Board members of our Company have provided the required governance oversight. Integrity | Responsibility | Excellence DRIVEN BY | Pioneering | Unity Five words, one emotion. These are not just words. These are values embodying VALUES the constituents of the Tata Code of Conduct (TCOC), INSPIRED BY THE a guiding light for us in the conduct of our business. Every year, Voltas files an Annual Compliance Report to the Tata Group Ethics Office. We are delighted to share that the relative position in terms of process FUTURE deployment/implementation maturity for business ethics at Voltas is at the highest level. As a trusted market leader, our values go hand in hand with our future aspirations. We have a long and successful track record of growth, captured across various domestic and international geographies, delivering numerous innovative ` 7,889 engineering solutions and products. However, we crores believe, this is just the beginning. Our journey of Total income transformation as a conglomerate across businesses, people and culture, depicts our approach of taking steps today, towards a brighter tomorrow. Our growth is underpinned by several proactive measures. These steps raise our sustainability quotient, through ` 744 provision of innovative, insight-driven and energy crores efficient solutions for a promising future. Proft before tax ` 521 crores Proft after tax 2 Voltas Limited Corporate Overview Statutory Reports Financial Statements Annual Report 2019-20 3 Corporate Overview Statutory Reports Financial Statements VOLTAS AT A GLANCE A part of the prestigious USD 113 billion conglomerate, the Tata Group, Voltas Limited is among the largest Indian air conditioning companies. We are also one of the leading engineering solutions provider and project specialists in the world. Since our incorporation in 1954, we have been committed to ofer world-class solutions and value through smart engineering to our customers and industries. We operate in three business segments: Unitary Products, Engineering Projects and Engineering Products & Services. Through a 50:50 Joint Venture Company between Voltas Limited and Arçelik, we are now present in the Home Appliance segment as well. A proud moment: Inauguration of the Voltas Beko factory at Sanand 4 Voltas Limited Annual Report 2019-20 5 Corporate Overview Statutory Reports Financial Statements BUSINESS VERTICALS UNITARY PRODUCTS Voltas has been synonymous with cooling products in India for over six decades. We are well known for the quality of our products, our range, extensive reach, popular advertising 2 campaigns and sensible pricing. As market leaders in the Air Conditioners category, we million Units sold have always been in the forefront of innovation in the cooling and refrigeration segment. 19,000+ Touch points Product ofering: Air Conditioners (ACs) Air Coolers Freezers Visi Coolers Water Dispensers Other commercial refrigeration products Market share (%) ROOM AIR-CONDITIONERS INVERTER AIR-CONDITIONERS 23.7 24.2 20.9 21.4 22.1 21.9 16.6 7.7 7.2 6.8 2015-16 2016-17 2017-18 2018-19 2019-20 2015-16 2016-17 2017-18 2018-19 2019-20 Undisputed MARKET LEADER Fastest growing segment contributing since 2012 to 52% of the overall AC sales in 2019-20 4 Voltas Limited Annual Report 2019-20 5 Corporate Overview Statutory Reports Financial Statements ENGINEERING PROJECTS This business vertical operates both within the country – Domestic Projects Group (DPG), 5,000+ and overseas – International Operations Business Group (IOBG). Customer sites actively managed across India 6 Countries that IOBG operated in 2019-20 Product ofering: As a part of our Domestic Projects Business (DPG), we offer integrated end-to-end solutions in electromechanical projects. We extend Mechanical, Electrical and Plumbing (MEP) services in the areas of infrastructure and built environment. These comprise metro stations, airports, malls, hotels, hospitals and educational institutions. Further, we also have a diversified portfolio of rural electrification (including solar) and water treatment plants across Government as well as private sectors. Voltas’ (DPG) operations and maintenance team manages over 5,000 customer sites across India. The business vertical also offers retrofit solutions for HVAC systems and a range of other services like Energy Auditing, Energy Performance Indexing & Retrofitting, Remote Monitoring and control, etc. The International Operations Business Group of Voltas is a leading turnkey Electromechanical Solutions and Services provider. We are celebrated as the preferred MEP contractor for mid to large-size projects in various GCC countries such as UAE and Qatar. With over four decades of experience, the international projects business has completed over 130 projects across 35+ countries. Voltas Commercial Products factory in Waghodia 6 Voltas Limited Annual Report 2019-20 7 Corporate Overview Statutory Reports Financial Statements
Load more

Recommended publications
  • Index Outlook June 2021
    Index Outlook JUNE 2021 June 28, 2021 Nifty Sectoral Weights* Weight Weight Change Earnings stage smart upgrade, further upside seen… Sectors (Nov 2020) (Jun 2021) (bps) Indian markets have shown resilience in the recent past and scaled new BFSI 37.8% 37.4% -42 highs amid encouraging corporate earnings in Q4FY21 led by the upswing IT 16.4% 16.3% -9 in key commodities prices and strong underlying demand prospects. GST Oil and Gas 14.1% 12.6% -153 collection at ~| 1.02 lakh crore for May 2021 (eighth consecutive month of FMCG 8.5% 8.2% -34 >| 1 lakh figure) is testimony to robust domestic macroeconomics. Going Capital Goods 2.3% 2.7% 37 forward, with peak of the Covid resurgence behind us, increasing pace of Auto 5.3% 5.3% 1 vaccination domestically and calibrated state specific unlocking under way, Metals and Mining 2.3% 3.5% 117 we expect economic activity to bounce back sharply in 9MFY22E. Our view Power 1.7% 1.6% -8 is further reinforced by the step up capex by the government, which will Telecom 2.1% 1.9% -21 Report Special create multiplier effect on the economy. We expect the present broad-based Pharma 3.5% 3.5% -1 up move in markets to continue, with small cap and midcaps leading the Others 5.9% 7.1% 123 gains. We continue to like IT & pharma space as structural plays in the market. Total 100% 100% Exhibit 1: Nifty and Sensex targets *Index weights are dynamic in nature Revised Sensex & Nifty Target resultant to market price movement & Earnings Estimates FY19 FY20 FY21 FY22E FY23E susceptible to change going forward Nifty EPS (₹/share)
    [Show full text]
  • Mahindra & Mahindra
    Mahindra & Mahindra (MAHMAH) CMP: | 866 Target: | 1,000 (16%) Target Period: 12 months BUY February 7, 2021 Further strength up ahead… Mahindra & Mahindra (M&M) reported a healthy operational performance in Q3FY21. Standalone net sales were at | 14,216 crore (up 15.2% YoY) – with Particulars automotive and tractor ASPs at | 6.92 lakh/unit (down 1.6% QoQ) and | 5.19 Particular Amount lakh/unit (flat QoQ), respectively. Standalone EBITDA margins at 16% dipped 12 bps QoQ, as operating leverage benefits cancelled out 150 bps Market Capitalization (₹ crore) 1,07,661.1 ₹ contraction in gross margins. Automotive EBIT margins rose ~210 bps QoQ Total Debt (FY20, crore) 3,068.0 Cash and Inv (FY20, ₹ crore) 6,426.1 to 6.3% while tractor margins were down ~100 bps QoQ to 23.4%. EV (FY20, ₹ crore) 1,04,303.1 Standalone PAT for the quarter came in at | 31 crore, impacted by a large 52 week H/L (₹) 893 / 246 Result Update Result impairment hit of | 1,692 crore in relation to long term investments. Equity capital (₹ crore) (FY20) 596.5 Strong volume headroom up ahead once supply concerns ease Face value (₹) ₹ 5 Price Performance M&M’s automotive and tractor performance continues to be on divergent 1000 20,000 paths – total automotive volumes are down 35% YoY in 9MFY21, thus far 750 15,000 (comprises~25% UV decline & ~26% drop in <3.5T LCVs i.e. pickups) while 500 10,000 tractors are up ~11% YoY. Auto performance has been hampered by slow 250 5,000 ramp up due to manufacturing presence in Maharashtra (among the worst hit by the pandemic) and fresh semiconductor shortage.
    [Show full text]
  • Consumer Goods Recovery in Discretionary and Urban Sales Led to Better Q3 Sector Update
    Consumer Goods Recovery in discretionary and urban sales led to better Q3 Sector Update Consumer goods companies’ Q3 performance was driven by sales recovery of Q3FY2021 Results Review discretionary categories (such as value-added hair oil and personal care products), sustained higher demand for healthcare and hygiene products, better traction to Sector: Consumer Goods new launches, and higher demand in rural markets coupled with improving demand in urban markets. General trade continues to grow strongly, e-commerce mix to Sector View: Positive overall revenue is improving due to higher sales and modern trade channel has witnessed sequential improvement due to recovery in urban sales. Most consumer goods companies under our coverage registered organic revenue growth of 6%-16%, driven by domestic volume growth of 7%-18% in Q3. Paint companies, including Asian Paints, registered strong volume growth of 30%, led by sustained high demand in tier III/IV towns and improving demand in metros and top cities due to receding scare of virus and improving construction and real estate activities. Overall, Sharekhan’s consumer goods universe registered revenue growth of ~14% in Q3FY2021, better than 9.1% growth achieved in Q2FY2021. Significant increase Our coverage universe in prices of palm oil, copra, other edible oils, and raw tea/coffee resulted in gross Companies CMP Reco. PT margin decline for companies such as HUL, Godrej Consumer Products (GCPL), (Rs) (Rs) Marico, and Tata Consumer Products (TCPL). However, lower ad spends and cost- Asian Paints 2,389 Buy 3,000 saving initiatives arrested the sharp decline of 80-100 bps in operating profit margins (OPM) for some companies.
    [Show full text]
  • OTC TCS 2005.Pdf
    1 Annual Report 2004-05 Contents Board of Directors ............................................................................................................................................................................................................................... 3 Management Team ............................................................................................................................................................................................................................. 4 Message from the CEO...................................................................................................................................................................................................................... 6 Notice........................................................................................................................................................................................................................................................ 8 Directors' Report ............................................................................................................................................................................................................................... 15 Management Discussion and Analysis ................................................................................................................................................................................... 30 Corporate Governance Report...................................................................................................................................................................................................
    [Show full text]
  • Franklin India Fund LU0231204701 31 August 2021
    Franklin Templeton Investment Funds India Equity Franklin India Fund LU0231204701 31 August 2021 Fund Fact Sheet For Professional Client Use Only. Not for distribution to Retail Clients. Fund Overview Performance Base Currency for Fund USD Performance over 5 Years in Share Class Currency (%) Total Net Assets (USD) 1.44 billion Franklin India Fund I (acc) USD MSCI India Index-NR Fund Inception Date 25.10.2005 200 Number of Issuers 45 180 Benchmark MSCI India Index-NR 160 Investment Style Blend Morningstar Category™ India Equity 140 Summary of Investment Objective 120 The Fund aims to achieve long-term capital appreciation by 100 principally investing in equity securities of companies of any size located or performing business predominately in India. 80 Fund Management 60 08/16 02/17 08/17 02/18 08/18 02/19 08/19 02/20 08/20 02/21 08/21 Sukumar Rajah: Singapore Discrete Annual Performance in Share Class Currency (%) Ratings - I (acc) USD 08/20 08/19 08/18 08/17 08/16 08/21 08/20 08/19 08/18 08/17 Overall Morningstar Rating™: I (acc) USD 53.68 3.31 -9.75 -0.35 12.92 Asset Allocation Benchmark in USD 53.15 3.00 -7.64 7.12 17.46 Performance in Share Class Currency (%) Cumulative Since 1 Mth 3 Mths 6 Mths YTD 1 Yr 3 Yrs 5 Yrs Incept I (acc) USD 8.00 10.33 21.17 24.53 53.68 43.28 61.24 518.48 % Benchmark in USD 10.94 11.12 22.35 25.75 53.15 45.68 83.30 371.80 Equity 103.05 Category Average 7.59 10.63 20.10 25.82 52.53 37.90 66.00 355.61 Cash & Cash Equivalents -3.05 Calendar Year Performance in Share Class Currency (%) 2020 2019 2018 2017 2016 I (acc) USD 13.92 8.35 -14.74 39.23 2.82 Benchmark in USD 15.55 7.58 -7.31 38.76 -1.43 Past performance is not an indicator or a guarantee of future performance.
    [Show full text]
  • Digital Transformation at Airports AGENDA
    Digital Transformation at Airports AGENDA ● About Us ● Airport Digital Transformation ● Outcome ● Our Experience ● Annexures About Us BIG EXPERIENCES Group Creds $5B 131,000 37 18 90 1,000 Award in revenue employees nationalities languages countries clients winning Years we went from being a small start up to the largest independent agency. Acquired by TechM 2019 Creative AWARDS WON RECENTLY o Barcelo Horizon Tetley o Tata Cliq o Himalayan Water o Jay Strongwater o Harvey Nichols o LK Bennett - o Shoppers Stop o Digi o Titan o Montblanc o Lorna Jane o Mr. & Mrs Smith Best re-design o Fastrack o MontBlanc o Titan o Kangaroos of the year o Love Bonito o Diesel o Tata Cliq o Titan o Matthew Williamson o Diesel o Myla Seduction o Mia (Tanishq) o Kangaroos Matthew o Harvey Nichols - o Redbullshop.co o BORN Group o Featured as Commerce Content Best in show m (Peoples website Williamson o o Reliance AJIO Myla Company of o India Agency Choice) o Tom Seduction the Year Awards 2019 Dixon Smythson o BORN Global Agency CEO of o Born Group o Myla Valentines Management Team the Year Website o Agency of the o BORN Creative Design Tata Cliq Year Malaysia o We synthesize 10 specialisms (3 shown above): • Consulting • Completeness (social, mobile, • Creative reviews, ratings, feedback) • Content • Channels • Commerce • Cohesion (integrations) • Cognition (analytics) • Conversions • Cloud 6 CX PX SX OX DX Customer Experience Physical Experience Service experience Operational experience Data experience • Order orchestration between • Strategy • Product design
    [Show full text]
  • Franklin India Fund LU1212701376 31 August 2021
    Franklin Templeton Investment Funds India Equity Franklin India Fund LU1212701376 31 August 2021 Fund Fact Sheet For Professional Client Use Only. Not for distribution to Retail Clients. Fund Overview Performance Base Currency for Fund USD Performance over 5 Years in Share Class Currency (%) Total Net Assets (USD) 1,44 billion Franklin India Fund A (acc) EUR-H1 MSCI India Index-NR in USD Fund Inception Date 25.10.2005 190 Number of Issuers 45 170 Benchmark MSCI India Index-NR 150 Morningstar Category™ Other Equity 130 Summary of Investment Objective The Fund aims to achieve long-term capital appreciation by 110 principally investing in equity securities of companies of any size located or performing business predominately in India. 90 Fund Management 70 Sukumar Rajah: Singapore 50 08/16 02/17 08/17 02/18 08/18 02/19 08/19 02/20 08/20 02/21 08/21 Asset Allocation Discrete Annual Performance in Share Class Currency (%) 08/20 08/19 08/18 08/17 08/16 08/21 08/20 08/19 08/18 08/17 A (acc) EUR-H1 50,51 -1,01 -13,58 -3,55 9,44 Benchmark in USD 53,15 3,00 -7,64 7,12 17,46 % Performance in Share Class Currency (%) Equity 103,05 Cumulative Annualised Cash & Cash Equivalents -3,05 Since Since 1 Mth 3 Mths 6 Mths 1 Yr 3 Yrs 5 Yrs Incept 3 Yrs 5 Yrs Incept A (acc) EUR-H1 7,78 9,87 19,92 50,51 28,75 35,90 46,91 8,79 6,33 6,24 Benchmark in USD 10,94 11,12 22,35 53,15 45,68 83,30 84,41 13,36 12,89 10,11 Calendar Year Performance in Share Class Currency (%) 2020 2019 2018 2017 2016 A (acc) EUR-H1 9,54 4,01 -17,74 34,53 0,74 Benchmark in USD 15,55 7,58 -7,31 38,76 -1,43 Past performance is not an indicator or a guarantee of future performance.
    [Show full text]
  • In Every Relationship Titan Company Limited
    IN EVERY RELATIONSHIP TITAN COMPANY LIMITED ANNUAL REPORT 2017-18 Announcement We are taking our first steps to move ANNUAL REPORT to Integrated Reporting in line with our continuous commitment to 2017-18 voluntarily disclose more information to our stakeholders on all aspects of our business. Accordingly, we have introduced key content elements of Integrated Reporting <IR> aligned to the Integrated Reporting Council Framework (IIRC) and as per SEBI’s circular dated 6 February 2017. We will add more IR content elements over the years as we move towards a complete <IR>. It is possible that some IR related data Contents are management estimates. Reporting Principle Financial Statements About TItaN The financial and statutory data presented in this Report is in line with 02 Financial Highlights Standalone Financial the requirements of the 03 Operating Context Statements Companies Act, 2013 (including 04 The Titan Journey 116 Independent the Rules made thereunder), Indian 06 Titan Today Auditor’s Report Accounting Standards, the Securities 08 Business Review 112 Balance Sheet and Exchange Board of India 18 Journey towards 113 Profit & Loss Account (Listing Obligations and Disclosure Integrated Reporting 115 Cash Flow Statement Requirements) Regulations, 2015 and 26 Engaging with 117 Significant accounting the Secretarial Standards. our Stakeholders policies 28 Outlook and Opportunities 130 Notes to Financial The non-financial section of the Report 30 People and Culture Statements is guided by the framework of the 31 Leadership Development International Integrated Reporting 32 Purity of Intent Consolidated Financial Council (IIRC), Securities and Exchange Statements 34 Board Of Directors Board of India and Principles of 130 AOC-1 36 Awards National Voluntary Guidelines on 169 Independent Auditor’s social, environmental and economic Report responsibilities of business.
    [Show full text]
  • ICICI Securities – Retail Equity Research Result Update Marico
    Marico (MARLIM) CMP: | 546 Target: | 630 (15%) Target Period: 12 months BUY August 1, 2021 Saffola growth momentum continues… About the stock: Marico is one of the major FMCG companies present in hair oil, edible oil, foods & personal care segment. Major brands include Parachute, Saffola, Nihar, Hair & Care, Set Wet, Livon and Beardo. Particulars The company has an overall distribution network of more than 5 million Particulars (| crore) Amount outlets and direct reach of ~1 million outlets. Through its stockist network, Market Capitalization 70,503.0 it reaches 58000 villages Total Debt (FY21) 340.0 Cash and Investments (FY21) 1,572.0 Update Result With the high gross margins of ~47%, Marico is able to spend 10% of its EV 69,271.0 sales for advertisements to support new categories & products 52 week H/L (|) 552 / 333 Equity capital 129.0 Face value (|) 1.0 Q1FY22 Results: Marico reported robust revenue growth in Q1FY22 results. Shareholding pattern Sales were up 31.2% YoY with strong volume recovery and price hikes (in %) Sep-20 Dec-20 Mar-21 Jun-21 EBITDA was at | 481 crore, up 3.1% YoY, with margins at 19% Promoter 59.6 59.6 59.6 59.6 FII 23.7 24.2 24.0 25.0 Consequent PAT was at | 365 crore (down 5.3% YoY) DII 10.4 10.2 10.2 9.7 Others 6.3 6.0 6.2 5.7 What should investors do? Marico’s share price has given 84% return in the last five years (from | 297 in July 2016 to | 547 in July 2021).
    [Show full text]
  • John Hancock Emerging Markets Fund
    John Hancock Emerging Markets Fund Quarterly portfolio holdings 5/31/2021 Fund’s investments As of 5-31-21 (unaudited) Shares Value Common stocks 98.2% $200,999,813 (Cost $136,665,998) Australia 0.0% 68,087 MMG, Ltd. (A) 112,000 68,087 Belgium 0.0% 39,744 Titan Cement International SA (A) 1,861 39,744 Brazil 4.2% 8,517,702 AES Brasil Energia SA 14,898 40,592 Aliansce Sonae Shopping Centers SA 3,800 21,896 Alliar Medicos A Frente SA (A) 3,900 8,553 Alupar Investimento SA 7,050 36,713 Ambev SA, ADR 62,009 214,551 Arezzo Industria e Comercio SA 1,094 18,688 Atacadao SA 7,500 31,530 B2W Cia Digital (A) 1,700 19,535 B3 SA - Brasil Bolsa Balcao 90,234 302,644 Banco Bradesco SA 18,310 80,311 Banco BTG Pactual SA 3,588 84,638 Banco do Brasil SA 15,837 101,919 Banco Inter SA 3,300 14,088 Banco Santander Brasil SA 3,800 29,748 BB Seguridade Participacoes SA 8,229 36,932 BR Malls Participacoes SA (A) 28,804 62,453 BR Properties SA 8,524 15,489 BrasilAgro - Company Brasileira de Propriedades Agricolas 2,247 13,581 Braskem SA, ADR (A) 4,563 90,667 BRF SA (A) 18,790 92,838 Camil Alimentos SA 11,340 21,541 CCR SA 34,669 92,199 Centrais Eletricas Brasileiras SA 5,600 46,343 Cia Brasileira de Distribuicao 8,517 63,718 Cia de Locacao das Americas 18,348 93,294 Cia de Saneamento Basico do Estado de Sao Paulo 8,299 63,631 Cia de Saneamento de Minas Gerais-COPASA 4,505 14,816 Cia de Saneamento do Parana 3,000 2,337 Cia de Saneamento do Parana, Unit 8,545 33,283 Cia Energetica de Minas Gerais 8,594 27,209 Cia Hering 4,235 27,141 Cia Paranaense de Energia 3,200
    [Show full text]
  • Annual General Meeting 2021
    Annual General Meeting 2021 Presentation to Shareholders June 30, 20211 Safe harbor statement Statements in this presentation describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/or other incidental factors 2 FY21 was an extraordinary year for the global economy and the steel industry Global manufacturing PMIs Total number of vaccination administered ▪ Global GDP contracted 3.5% in CY20 EU UK India China Global due to COVID-19 pandemic 65 50 ▪ Central banks adopted accommodative policies to fight and contain the impact on economies 35 20 Mar-18 Sep-18 Mar-19 Sep-19 Mar-20 Sep-20 Mar-21 Total number of vaccination doses administered by June 24, ▪ Manufacturing activities have 2021 per 100 people in the total population rebounded strongly since then Global HRC prices ($/t) India key economic growth indicators Korea export FOB China export FOB Construction Capital goods China domestic Germany domestic Automotive Consumer goods ▪ Increasing vaccination is a key to 1,000 48% continued recovery 24% 850 0% -24% 700 ▪ Steel prices
    [Show full text]
  • Invesco India Equity Fund a (HKD)-Acc Shares 31 August 2021
    Invesco India Equity Fund A (HKD)-Acc Shares 31 August 2021 This marketing communication is for investors in Switzerland only. Investors should read the legal documents prior to investing. Fund Strategy Summary of fund objective The fund aims to achieve long-term capital growth by investing principally in equity or similar The Fund is actively managed. instruments of Indian companies. We believe India is a high growth market with wealth of The objective of the Fund is to achieve investment opportunities, and that by focusing on stock fundamentals, we can identify long-term capital growth by investing “Quality Growth” companies with strong business models, industry leadership, competitive principally in equity or similar instruments advantages, strong management and what the believe to be reasonable valuations. We of Indian companies. For the full objectives adhere to a purely bottom-up investment process with a conviction-based approach and and investment policy please consult the preference for private enterprises. While the fund does not have any binding investment current prospectus. restrictions based on ESG, we believe ESG characteristics can positively impact financial performance and conduct in-depth proprietary research to assign ESG risk ratings. Key facts Indexed performance* Fund Benchmark 200 180 160 Shekhar 140 Sambhshivan 120 Hong Kong 100 Managed fund since May 2006 80 60 Share class launch 40 07 July 2011 08/16 08/17 08/18 08/19 08/20 08/21 Original fund launch 1 02 December 1994 The performance period shown here starts on the last day of the first indicated month and ends on the last day of the last indicated month.
    [Show full text]