Consolidated Annual Report 2018-2019 - Final PDF

Annual Report - 2018-2019
Address: Axis House, 1st Floor, C-2 Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai 400025, India.
TRUSTEE REPORT
REPORT FROM AXIS MUTUAL FUND TRUSTEE LIMITED TO THE UNIT HOLDERS OF THE plans of the schemes are different to the extent of the difference in expense ratios.
SCHEMES OF AXIS MUTUAL FUND Axis Capital Builder Fund – Series 1: The scheme was launched as a multicap Scheme
We have pleasure in presenting the Tenth Annual Report of the schemes of Axis Mutual Fund for with high quality portfolio whose underlying growth metrics are higher than the metrics of
the period ended March 31, 2019. the scheme benchmark. The portfolio is divided equally between large cap stocks and mid &
The assets under management of the schemes of Axis Mutual Fund as at March 31, 2019 were small caps stocks to provide adequate market cap diversification. This strategy has helped
Rs. 87,740.19 crores and the average assets under management for the year ended March 31, steer the portfolio through the last year’s volatile markets. The scheme has underperformed
2019 were Rs. 85,580.25 crores. The total number of investors’ folio count under the schemes of its benchmark during the current financial year and since inception.
Axis Mutual Fund as at March 31, 2019 were 38,89,364. Axis Capital Builder Fund – Series 4: The scheme was launched in this financial year. The
As of March 31, 2019, Axis Asset Management Company Ltd. managed 54 schemes of Axis scheme aims to generate income and long term capital appreciation by investing in a
Mutual Fund which includes: diversified portfolio of equity & equity related instruments across market capitalization. The
scheme may also use derivative strategies to manage volatility dynamically.
• 1 open ended equity linked savings scheme with 3 year lock-in (ELSS); • 12 open ended equity
schemes; • 6 close ended equity scheme; • 11 close ended Hybrid scheme; • 2 open ended Axis Equity Advantage Fund – Series 1 & 2: The scheme(s) invests in a diversified
Exchange Traded Funds; • 1 open ended fund of fund scheme; • 1 open ended liquid scheme; portfolio of equity & equity related instruments. It also aims to manage risk through use of
• 1 open ended overnight scheme • 1 open ended gilt scheme; • 9 open ended debt schemes; active hedging techniques. The scheme(s) have underperformed the benchmark in the last
• 1 capital protection scheme; • 8 close ended debt schemes. year and since inception.
1. SCHEME PERFORMANCE, FUTURE OUTLOOK AND OPERATIONS OF THE SCHEMES Axis Arbitrage Fund: The scheme has outperformed its benchmark over the last financial
year and since inception in both regular and direct plan. Heightened volatility during the
A. Scheme Performance course of the year has aided the category both in terms of returns and AUM collection
The Assets Under Management (“AUM”), the Net Asset Value (“NAV”) per unit and the Axis Equity Hybrid Fund: The scheme was launched this year as an aggressive hybrid fund.
performance of the schemes vis-à-vis their benchmark for financial year period(s) ended The equity portion of the scheme is Large cap biased and best ideas strategy with a bottom
March 31, 2019 are given in Annexure - 1. up approach to investing. The portfolio is a compact portfolio of quality stocks that offer
Brief Comments on Scheme performance: Our scheme(s) have performed well on a long-term sustainable growth opportunities with a competitive market advantage. The debt
relative basis amidst an uncertain and tough market environment. The equity markets were portion will be dynamically managed across duration and the credit spectrum. The scheme
characteristic of a narrow market phenomenon as a few large cap stocks accounted for most will follow an active investment strategy that aims to generate absolute returns with an
of the gains in the index whilst the rest of the market remained lackluster. On the debt side, endeavor to capture opportunities across interest rate cycles by actively managing the
our scheme(s) sidestepped several pitfalls through prudent risk management and a strong duration and credit allocation of the scheme’s portfolio.
credit appraisal system. Axis Triple Advantage Fund: The scheme has been restructured this year to increase the
Axis Long Term Equity Fund: The scheme outperformed its benchmark since inception. equity allocation and reduced the exposure to gold assets. While the scheme still offers a
The scheme has underperformed the benchmark for the year in an uncertain and a narrow multi asset investment solution, the exposure has been reworked to improve the tax
market environment. The scheme investments were driven by fundamental research looking efficiency of the product. The direct plan of the scheme has outperformed the benchmark in
for long term secular growth prospects and stock selection was on a bottom’s up basis. The the last financial year, which again brought out the importance of asset allocation that is
scheme looks for sustainable business models with good management, market leadership provided by this scheme. Performance of the plans of the scheme is different to the extent of
and scalability in business model. Risk assessment is an integral part of selection of a the difference in expense ratios.
company as part of the portfolio. Axis Children’s Gift Fund: The scheme is an open-ended children focused solution oriented
Axis Bluechip Fund: The scheme outperformed its benchmark since inception. The scheme scheme that seeks to generate income by investing in debt & money market instruments
has underperformed the benchmark for the year in an uncertain and a narrow market along with long-term capital appreciation through investments in equity & equity related
environment. The performance since inception reflects the long term nature of the portfolio instruments. The scheme has underperformed the benchmark for the year and since
philosophy and the portfolio construction process. The schemes’ investments were driven by inception. The performance of the scheme was affected by the correction in equity markets
fundamental research approach and stock selection was on a bottom’s up basis. since the launch of the scheme.
Axis Midcap Fund: Midcap stocks have seen a significant retracement this year. In that Axis Dynamic Equity Fund: The scheme aims to have a dynamic equity allocation based on
context, the scheme has remained conservative in its approach for the year given the sharp an in-house built quantitative model. The model uses a 3-pillar approach that considers the
falls seen in many low quality midcap stocks. For the year scheme outperformed materially valuation, trend and risk of the market. The model helps the scheme in arriving at the dynamic
as compared to its benchmarks. It has also outperformed its benchmark since inception. The allocation on a non-subjective basis. While this approach is likely to lag the equity market
Investment approach is based on a fundamental research process. The portfolio targets to during a sharp rally, it should allow the scheme to reduce drawdowns during periods of
invest in high quality business with scalable and sustainable models with the underlying turmoil and thus can help deliver reasonable equity exposure with sharply lower risk over a
philosophy, “Today’s Midcap, Tomorrow’s leader”. cycle. The average equity exposure of the Scheme has 43.5% for the financial year. The
scheme has underperformed over 1 year and since inception
Axis Focused 25 Fund: The scheme has outperformed its benchmark since inception. The
one-year performance has been below the benchmark in a highly volatile market Axis Equity Saver Fund: The scheme has underperformed the benchmark in the last
environment. The scheme has an actively managed portfolio and invests in up to 25 stocks, financial year. The performance of the scheme was affected by the narrow market
primarily out of the top 200 by market capitalization in the Indian market. The scheme uses a performance and index distortion that was observed in large cap stocks. The scheme seeks
fundamental research process to identify and invest in companies with high quality to provide capital appreciation and income distribution by using equity and equity related
sustainable models over the medium to long term. instruments, arbitrage opportunities and debt and money market instruments.
Axis Multicap Fund: The scheme has outperformed its benchmark since inception and in Axis Regular Saver Fund: The scheme invests largely in short term debt and a mix of large and
the current financial year. The scheme looks to invest in companies that are at their inflection mid-cap equities. The scheme maintained relatively stable maturity profile and dynamically
points such as market share gain, industry consolidation, sunrise industries, improved adjusted its equity allocation using the asset allocation model to ensure that it met its drawdown
management focus and capital allocation or regulatory & policy changes. The scheme looks objectives. Performances of the plans of the schemes are different to the extent of the
for such opportunities across market cap range. difference in expense ratios. The scheme has underperformed over 1 year and since inception
Axis Small Cap Fund: The scheme has outperformed its benchmark since inception as well Axis Overnight Fund: The scheme was launched in this financial year. The scheme aims to
as during the last financial year. The Scheme transitioned into an open ended scheme post provide reasonable returns commensurate with very low interest rate risk and providing a
completion of 5 years. The investment approach was driven on a fundamental research high level of liquidity, through investments made primarily in overnight securities having
process to identify and invest in companies with high quality sustainable models over the maturity/residual maturity of 1 business day. The scheme has been fully deployed as on the
medium to long term. close of the financial year.
Axis Growth Opportunities Fund: The scheme was launched this year as a large and Axis Liquid Fund : The scheme is a high liquidity investment solution that provides reasonable
midcap Scheme with a provision to invest up to 35% of the net assets of the scheme in returns with low risk through a portfolio of money market and debt securities. The scheme has
overseas securities. The investment approach is driven on a fundamental research process to maintained its portfolio strategy of low volatility and high quality during the course of the year.
identify and invest in companies with high quality sustainable models over the medium to The scheme has outperformed both on a 1 year and since inception basis. Performances of the
long term. The overseas investment portion of the scheme is advised by Schroders and plans of the scheme are different to the extent of the difference in expense ratios.
currently the scheme invests in US equities and depository receipts of companies domiciled in Axis Ultra Short Term Fund: The scheme was launched in this financial year as a short
markets other than US and India. term solution to park funds in a portfolio which endeavors to offer a portfolio with lower
Axis Nifty ETF: The scheme is an exchange traded fund that aims to provide returns before volatility and higher carry. The scheme is ideal for investors with an investment horizon of 3-
expenses that closely correspond to the total returns of the Nifty 50 Index subject to tracking 6 months. The scheme predominantly invests in a mix of corporate bonds (50%+) and money
errors. As the scheme is passively managed, comparison with benchmark is not relevant. market instruments.
Axis Emerging Opportunities Fund - Series 1 & 2: The scheme(s) looks to invest in Axis Treasury Advantage Fund: The scheme aims to provide optimal returns and liquidity to
companies that are expected to see a boost in growth over the medium term and/or which are the investors by investing primarily in a mix of money market and short term debt instruments
taking advantage of ongoing market dislocations. The scheme(s) have outperformed the which results in a portfolio having marginally higher maturity as compared to a liquid Scheme at
benchmark in the last financial year i.e. 2017-18. Adverse market conditions during the the same time maintaining a balance between safety and liquidity. The direct plan of the scheme
launch of the scheme(s) have affected the returns since inception. Performances of other has outperformed both on a 1 year and since inception basis. Performances of the plans of the
scheme are different to the extent of the difference in expense ratios.
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TRUSTEE REPORT (Contd.)

Axis Short Term Fund: The scheme maintains a high quality portfolio that is focused on C. Future Outlook
highly rated issuers. The Direct Plan of the scheme outperformed its benchmark during the Summary and Background
year. Performances of plans of the scheme are different to the extent of the difference in
expense ratios. FY 2018-19 was a tough year for markets both on the equity and debt sides. On the equity front,
volatile markets especially in the mid and small caps hurt investors with sharp falls, much of it due to
Axis Banking & PSU Debt Fund: The scheme invests in debt and money market retracements from the previous year. Euphoria in these stocks faded as markets took a reality
instruments issued by Banks, Public Sector Units (PSUs) & Public Financial Institutions check on many stocks priced well above comfort levels and earnings over-estimation. On the debt
(PFIs). As such it maintains a high quality and low duration relative to its benchmark. The side credit quality concerns and defaults in high profile names and systemically important
Direct plan & Regular plan of the scheme have outperformed the benchmark in the last year sectors raised costs of borrowing in the credit markets and created a liquidity scare.
as well as since inception. Performances of the plans of the scheme are different to the
extent of the difference in expense ratios. Going forward, post elections, we believe a long term earnings recovery is likely to drive equity
markets for the year ahead as policies and governance action will act as a catalyst for long term
Axis Corporate Debt Fund: The scheme seeks to provide steady income and capital growth. On the debts side, a normalization in the debt markets will offer opportunities across the
appreciation by investing primarily in corporate debt instruments. With improved credit curve for investors especially in the short to medium term maturities space.
environment, the scheme endeavors to capture corporate spreads in the short term space
while being cautious at managing risk on its corporate investments. The scheme Equity outlook
outperformed its benchmark during the year and since inception. Performances of the plans If 2017 was characterized by low volatility across asset markets, 2018 saw the return of
of the schemes are different to the extent of the difference in expense ratios. volatility albeit with vengeance. Market trends switched abruptly, wrong footing market
Axis Strategic Bond Fund: Last year witnessed heightened tensions in the debt markets, participants and investors alike causing angst and dismay. Talking points for the year
as the corporate debt markets saw a spate of defaults. Corporate spreads rose amidst revolved around a wide range of topics including Currency, inflation, interest rates and
uncertainty. The spike however offered select opportunities in the short tenor space. The NBFC’s amongst other on the domestic front. Crude oil, US Tech stocks, Brexit and the US-
scheme maintained a lower average duration with increased exposure to corporate bond China Trade war buzz set the global trend of the markets this year. The result – a tough
sector to take advantage of this environment. The scheme outperformed its benchmark market for active investors – especially domestic equity fund managers, many of whom
during the year and since inception. Performances of the plans of the schemes are different struggled to outperform their respective Scheme benchmarks.
to the extent of the difference in expense ratios. As India votes, the markets are in limbo. Given the pro incumbency sentiment, we believe the
Axis Credit Risk Fund: The scheme invests in a mix of government and corporate bonds elections are unlikely to deliver significant negative surprises. However, the balance of power
while maintaining a short duration profile. The scheme maintained a lower average duration in the lower house of parliament will be keenly watched post elections. Given the large 2014
with increased exposure to corporate bond sector to take advantage of this environment. mandate, the NDA government had taken on several key legislative projects ushering much
The direct plan of the scheme has outperformed the scheme benchmark during the year and needed changes to the way business is done in India. The conclusion of these elections will
since inception. Performances of the plans of the schemes are different to the extent of the eliminate much needed policy uncertainty
difference in expense ratios. We remain bullish on the India story. Given our focus on quality and are bias towards
Axis Dynamic Bond Fund: The Scheme given its investment mandate, maintained a shorter fundamentally sound business models, the big trend we are looking to play is the corporate
maturity during the year given the market environment. The scheme outperformed its deleveraging and operational efficiency story that is unravelling. Our investment philosophy
benchmark during the year and since inception. Performances of the plans of the schemes has always looked to capture earnings driven growth over sustainably large time periods.
are different to the extent of the difference in expense ratios. This has worked well for us and our portfolios are testament to this philosophy.
Axis Gilt Fund: The scheme aims to generate credit risk-free returns through investments in Debt Market Outlook
sovereign securities issued by the Central Government and/or State Government. The fund Fixed income markets have been under pressure from 2017, with the benchmark 10 year
manager strives to enhance portfolio returns by actively managing interest rate risks arising yields pushing relentless higher from their demonetization lows. In 2018, the yields came
due to market volatility. The scheme has underperformed over 1 year and since inception. under further pressure on the external account – with FII selling, Rupee and crude pressures
Axis Gold ETF: The scheme aims to deliver returns consistent with returns on gold and is all playing a part. However, sentiment has shifted remarkably as we close the year.
invested largely in gold. The scheme has underperformed the domestic price of gold. As the Debt investors in the short to medium term space have been rewarded as they rode the see-saw
scheme is largely passively managed, comparison with benchmark is not relevant. moves in the debt markets. The year is likely to end with debt returns outperforming equity
Axis Gold Fund: The scheme aims to deliver returns consistent with returns on gold by markets in many debt mutual fund categories. Credit risk was brought to the forefront once
investing in Axis Gold ETF. The scheme has performed in line with the objectives. As the scheme again, thus highlighting that debt funds are not risk free investments and investors should heed
is largely passively managed, comparison with benchmark is not relevant. The Scheme has caution while investing in relatively high risk high reward debt products. The higher credit risk
outperformed in the last year while adverse conditions at the time of launch continue to affect scenario has since diminished as reflected in the normalized prices across the yield curve
the since inception return. We see the inflation wedge as a short term opportunity to add duration selectively to our
Axis Capital Protection Oriented Fund - Series 5: This scheme was rolled over in portfolios given the current risk reward on the medium to long end of this curve. We also re-
Financial Year 2016-17 and the corpus of the scheme was invested in line with its emphasize our view of credits. Given that the attention of market participants has been skewed
investment objectives. The scheme is passively managed and performance comparison with towards the AAA segment in the short space, credits in the same space (1-3 years) offer
benchmark is not appropriate in these case. The scheme has outperformed in the last year significant opportunities. As always, our prudent investment norms and strong risk mitigation
while adverse conditions at the time of launch continue to affect the since inception return. framework form the bedrock of all our credit evaluation. The corporate bond spread in the short
to medium tenor space also offers material opportunities for buy and hold investors and hence
Axis Fixed Term Plan - Series 64, 95, 96, 97, 100, 101, 102, 104: The various series believe that investors should consider deploying funds in roll down strategies.
were invested in line with their investment objectives. The schemes are passively managed
and performance comparison with benchmark is not appropriate in these cases. 2. BRIEF BACKGROUND OF SPONSORS, FUND, THE TRUSTEE COMPANY AND AMC
Note: Axis Fixed Term Plan – Series 92, 93, 94, 74, 49, 52 have matured during the financial a. Axis Mutual Fund
year 2018-19 Axis Mutual Fund (‘the Mutual Fund’/ ‘the Fund’) was set up as a Trust by the Settlor, Axis
Axis Hybrid Fund - Series 5,6,7, 27, 28, 29, 30,31,32, 33 and 35: The various series Bank Limited (‘Axis Bank’) on June 27, 2009 with Axis Mutual Fund Trustee Limited (‘the
were invested in line with their investment objectives. The schemes are passively managed Trustee Company’) as a Trustee in accordance with the provisions of the Indian Trust Act,
and performance comparison with benchmark is not appropriate in these cases. 1882 and is duly registered under the Indian Registration Act, 1908. The Trustee has entered
into an Investment Management Agreement dated June 27, 2009 with Axis Asset
Note: Axis Hybrid Fund – Series 18, 19, 22, 23, 24, 25 and 26 have matured during the Management Company Limited (‘Axis AMC’/’the AMC’) to function as the Investment
financial year 2018-19 Manager for all the schemes of the Fund. The Fund was registered with SEBI on September
B. Operations of the Schemes 4, 2009 vide registration No. MF/061/09/02.
Axis Mutual Fund (‘Axis MF’) has been focused on taking big strides on digital front. We b. Axis Mutual Fund Trustee Limited (Including Liabilities & Responsibilities)
continued on a strong growth trajectory and achieved a new peak AUM this year. Following The Trustee is the exclusive owner of the Fund and holds the same in trust for the benefit of
major initiatives were executed: the unitholders. The Trustee has been discharging its duties and carrying out the
Website: Complete revamp of Mutual Fund website www.axismf.com, which has new age responsibilities as provided in the Regulations and the Deed of Trust. The Trustee seeks to
and user friendly design. Web portal is made responsive and user can access both from ensure that the Fund and the schemes floated thereunder are managed by the AMC in
desktop and mobile. Few new features like quick investment, Goal Planning & Calculators, accordance with the Deed of Trust, the Regulations, directions and guidelines issued by the
Filters and Compare feature for funds, systematic plan, notification tab, customizing folio SEBI, the Stock Exchanges, the Association of Mutual Funds in India and other regulatory
etc. are added. Dashboard and Portfolio views gives the customers an overview of their agencies. The main responsibility of the Trustee is to safeguard the interest of the Unit holders.
investments. c. Sponsor
SIP & Tax Invest Portal: Dedicated portals for investment for Systematic Investment Plan Axis Mutual Fund is sponsored by Axis Bank Limited (“Axis Bank”). The Sponsor is the Settlor of
(SIP) and Tax saving investments in Axis MF's ELSS (Axis Long Term Equity Fund). These the Mutual Fund Trust. The Sponsor has entrusted a sum of Rs. 1,00,000/- (Rs. One Lakh only)
microsite aim at providing the investor with a clean interface, a rich user experience and helps to Axis Mutual Fund Trustee Limited as the initial contribution towards the corpus of the Fund.
complete the investment in a matter of minutes. This portal is also customizable for IFAs who
can then share the customized links with their respective investors for generating investments. Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire
spectrum of financial services to customer segments covering Large and Mid-Corporates,
MSME, Agriculture and Retail Businesses.
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Axis Bank is one of the first new generation private sector banks to have begun operations in Axis Bank Limited holds 75% (less one share) of the total issued and paid up equity share
1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of capital of Axis AMC and the balance 25% plus one equity share has been acquired by
India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC), Schroders Investment Management (Singapore) Limited (SIMSL) through its wholly owned
General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New subsidiary, Schroders Singapore Holdings Private Limited (SSHPL), a subsidiary of Schroders
India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India PLC. , the ultimate holding company of Schroders Group, is among the 100 largest companies
Insurance Company Ltd. The shareholding of Unit Trust of India was subsequently listed on the London Stock Exchange and has a history of over 200 years. Schroders Group is
transferred to SUUTI, an entity established in 2003. a leading international asset management group managing various asset classes.
The Bank has a large footprint of 4,050 domestic branches (including extension counters) Axis AMC has obtained Certificate of Registration as Portfolio Manager under the SEBI
with 11,801 ATMs & 4,917 cash recyclers spread across the country as on 31st March, (Portfolio Managers) Regulations, 1993 vide registration no. INP000003534 with effect
2019. The overseas operations of the Bank are spread over nine international offices with from January 04, 2010, which was subsequently renewed. There is no conflict of interest
branches at Singapore, Hong Kong, Dubai (at the DIFC), Colombo and Shanghai; between the Mutual Fund and the PMS activity.
representative offices at Dhaka, Dubai, Abu Dhabi and an overseas subsidiary at London, UK. Axis AMC has signed agreement(s) with offshore fund manager(s) to provide Non-binding
The international offices focus on corporate lending, trade finance, syndication, investment Advisory and related services in respect of offshore fund(s) investing in India. SEBI has vide
banking and liability businesses. its letter dated January 10, 2013, accorded it‘s no objection to the AMC for undertaking non-
d. Axis Asset Management Company Limited binding investment advisory and other related services.
Axis Asset Management Company Limited (‘Axis AMC’) is a public limited company The AMC also acts as the Investment Manager to Axis Alternative Investment Fund -
incorporated under the Companies Act, 1956 on January 13, 2009, having its registered Category II (“AIF”), registered with SEBI vide registration no. IN/AIF2/17-18/0512 dated
office at Axis House, 1st Floor, C-2, Wadia International Centre, Pandurang Budhkar Marg, January 19, 2018 and Axis Alternative Investment Fund - Category III, registered with SEBI
Worli, Mumbai - 400025. Axis AMC has been appointed as the Investment Manager of the vide registration no. IN/AIF3/18-19/0628 dated December 13, 2018 under SEBI (Alternative
Mutual Fund by the Trustee Company vide Investment Management Agreement dated June Investment Funds) Regulations, 2012.
27, 2009 and executed between the Trustee Company and the AMC.
3. INVESTMENT OBJECTIVES OF THE SCHEMES

Sr. No. Name of the Scheme Investment Objective
1 Axis Long Term Equity Fund (An open ended equity linked savings To generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and
scheme with a statutory lock in of 3 years and tax benefit) equity-related Securities.
2 Axis Bluechip Fund (An open ended equity scheme predominantly To achieve long term capital appreciation by investing in a diversified portfolio predominantly consisting of
investing in large cap stocks) equity and equity related securities including derivatives.
3 Axis Midcap Fund,(An open ended equity scheme predominantly To achieve long term capital appreciation by investing predominantly in equity & equity related instruments of
investing in Mid Cap stocks) Mid Cap companies.
4 Axis Focused 25 Fund (An open ended equity scheme investing in To generate long term capital appreciation by investing in a concentrated portfolio of equity & equity related
maximum 25 stocks investing in large cap, mid cap and small cap instruments of up to 25 companies.
companies)
5 Axis Multicap Fund (An open ended equity scheme investing To generate long term capital appreciation by investing in a diversified portfolio of equity and equity related
across large cap, mid cap, small cap stocks) instruments across market capitalization.
6 Axis Small Cap Fund (An open ended equity scheme To generate long-term capital appreciation from a diversified portfolio of predominantly equity & equity related
predominantly investing in small cap stocks) instruments of small cap companies.
7 Axis Growth Opportunities Fund (An Open-ended Equity Scheme To generate long term capital appreciation by investing in a diversified portfolio of Equity & Equity Related
investing in both large cap and mid cap stocks) Instruments both in India as well as overseas.
8 Axis Nifty ETF (An open ended Scheme replicating/ tracking Nifty The investment objective of the Scheme is to provide returns before expenses that closely correspond to the
50 Index) total returns of the Nifty 50 Index subject to tracking errors.
9 Axis Emerging Opportunities Fund - Series 1 & 2 The scheme aims to generate long term capital appreciation by investing in a diversified portfolio of equity &
(A Close Ended Equity Scheme) equity related instruments of midcap companies.
10 Axis Capital Builder Fund – Series 1 & 4 (A Close ended equity To generate income and long term capital appreciation by investing in a diversified portfolio of equity & equity
scheme investing across large cap, mid cap and small cap stocks) related instruments across market capitalisation.
11 Axis Equity Advantage Fund – Series 1 & 2 To generate capital appreciation over medium to long-term from a diversified portfolio of predominantly equity &
(A Close ended equity scheme) equity related instruments. It also aims to manage risk through use of active hedging techniques.
12 Axis Arbitrage Fund, (An open ended scheme investing in To generate income through low volatility absolute return strategies that take advantage of opportunities in the
arbitrage opportunities) cash and the derivative segments of the equity markets including the arbitrage opportunities available within the
derivative segment, by using other derivative based strategies and by investing the balance in debt and money
market instruments.
13 Axis Equity Hybrid Fund (An open ended hybrid scheme investing To generate long term capital appreciation along with current income by investing in a mix of Equity and Equity
predominantly in equity and equity related instruments) related Instruments, debt Instruments and money market instruments.
14 Axis Triple Advantage Fund, (An open ended scheme investing in To generate long term capital appreciation by investing in a diversified portfolio of equity and equity related
equity, debt and gold) instruments, fixed income instruments & gold Exchange Traded Funds.
15 Axis Children’s Gift Fund, (An open ended fund for investment for To generate income by investing in debt & money market instruments along with long-term capital appreciation
children, having a lock-in of 5 years or till the child attains age of through investments in equity & equity related instruments.
majority (whichever is earlier))
16 Axis Dynamic Equity Fund (An open ended dynamic asset To generate capital appreciation by investing in a portfolio of equity or equity linked securities while secondary
allocation fund) objective is to generate income through investments in debt and money market instruments. It also aims to
manage risk through active asset allocation.
17 Axis Equity Saver Fund (An open ended scheme investing in To provide capital appreciation and income distribution to the investors by using equity and equity related
equity, arbitrage and debt) instruments, arbitrage opportunities, and investments in debt and money market instruments.
18 Axis Regular Saver Fund, (An open ended hybrid scheme investing The Scheme seeks to generate regular income through investments in debt & money market instruments, along
predominantly in debt instruments) with capital appreciation through limited exposure to equity and equity related instruments.
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3. INVESTMENT OBJECTIVES OF THE SCHEMES (CONTD.)
Sr. No. Name of the Scheme Investment Objective
19 Axis Overnight Fund (An open ended debt scheme investing in The investment objective of the Scheme is to provide reasonable returns commensurate with very low interest
overnight securities) rate risk and providing a high level of liquidity, through investments made primarily in overnight securities having
maturity/residual maturity of 1 business day.
20 Axis Liquid Fund To provide a high level of liquidity with reasonable returns commensurating with low risk through a portfolio of
(An Open ended Liquid Scheme) money market and debt securities.
21 Axis Ultra Short Term Fund (An open ended ultra-short term debt The investment objective of the Scheme is to generate regular income and capital appreciation by investing in a
scheme investing in instruments such that the Macaulay duration portfolio of short term debt and money market instruments with relatively lower interest rate risk such that
of the portfolio is between 3 months and 6 months) Macaulay duration of the portfolio is between 3 months and 6 months.
22 Axis Treasury Advantage Fund,(An open ended low duration debt To provide optimal returns and liquidity to the Investors by investing primarily in a mix of money market and
scheme investing in instruments such that the Macaulay duration short term debt instruments which results in a portfolio having marginally higher maturity as compared to a
of the portfolio is between 6 to 12 months) liquid fund at the same time maintaining a balance between safety and liquidity.
23 Axis Short Term Fund,(An open ended short term debt scheme To generate stable returns with a low risk strategy while maintaining liquidity through a portfolio comprising of
investing in instruments such that the Macaulay duration of the debt and money market instruments.
portfolio is between 1 year to 3 years)
24 Axis Banking & PSU Debt Fund (An open ended debt scheme To generate stable returns by investing predominantly in debt & money market instruments issued by Banks,
predominantly investing in debt instruments of Banks, Public Public Sector Units (PSUs) & Public Financial Institutions (PFIs). The Scheme shall endeavor to generate
Sector Undertakings & Public Financial Institutions) optimum returns with low credit risk.
25 Axis Corporate Debt Fund (An open ended debt scheme The Scheme seeks to provide steady income and capital appreciation by investing in corporate debt.
predominantly investing in AA+ and above rated corporate bonds)
26 Axis Strategic Bond Fund, (An open ended medium term debt To generate optimal returns in the medium term while maintaining liquidity of the portfolio by investing in debt
scheme investing in instruments such that the Macaulay duration and money market instruments.
of the portfolio is between 3 years to 4 years)
27 Axis Credit Risk Fund (An open ended debt scheme predominantly To generate stable returns by investing in debt & money market instruments across the yield curve & credit
investing in AA and below rated corporate bonds (excluding AA+ spectrum.
rated corporate bonds))
28 Axis Dynamic Bond Fund, (An open ended dynamic debt scheme To generate optimal returns while maintaining liquidity through active management of a portfolio of debt and
investing across duration) money market instruments.
29 Axis Gilt Fund, (An open ended debt scheme investing in The Scheme will aim to generate credit risk-free returns through investments in sovereign securities issued by
government securities across maturity) the Central Government and/or State Government.
30 Axis Gold ETF, (An open ended scheme replicating/tracking To generate returns that are in line with the performance of gold.
Domestic Price of Gold)
31 Axis Gold Fund, (An open ended fund of fund scheme investing in To generate returns that closely correspond to returns generated by Axis Gold ETF.
Axis Gold ETF)
32 Axis Capital Protection Oriented Fund - Series 5 (A close ended To protect the capital by investing in a portfolio of debt & money market instruments that are maturing on or
capital protection oriented fund) before the maturity of the Scheme. The scheme also aims to provide capital appreciation through exposure in
equity & equity related instruments.
33 Axis Fixed Term Plan – Series 64, 95, 96, 97, 100, 101, 102, 104 To generate returns through a portfolio of debt & money market instruments that are maturing on or before the
Close ended debt scheme(s) (Note: Axis Fixed Term Plan – Series maturity of the respective Scheme(s).
92, 93, 94, 74, 49, 52 have matured during the financial year
2018-19)
34 Axis Hybrid Fund - Series 5, 6, 7, 27, 28, 29, 30, 31, 32, 33 and To generate income by investing in high quality fixed income securities whilst the secondary objective is to
35 Close ended debt scheme(s) Note: Axis Hybrid Fund – Series generate capital appreciation by investing in equity and equity related instruments.
18, 19, 22, 23, 24, 25 and 26 have matured during the financial
year 2018-19
4. Significant Accounting Policies
Accounting policies are in accordance with Securities Exchange Board of India (Mutual Funds) Regulations 1996. Summary of significant account policies is disclosed in Financial Statements of the
schemes.
5. Unclaimed Dividends and Redemptions
Summary of no. of investors and corresponding amount as at March 31, 2019:
Name of Scheme Unclaimed Redemption Unclaimed Dividend
No. of Investors Amount No. of Investors Amount
(Rs. In Thousands) (Rs. In Thousands)
Axis Hybrid Fund - Series 11 (42 Months) 79 14700 - -
Axis Hybrid Fund - Series 12 (1282 Days) 105 13088 - -
Axis Focused 25 Fund 115 2653 42 562
4

Axis Banking & PSU Debt Fund 3 34 1 44
Axis Capital Protection Oriented Fund - Series 1 18 642 - -
AXIS Liquid Fund 43 720 2 8
Axis Children's Gift Fund 5 318 - -
Axis Gilt Fund 1 3 3 39
Axis Corporate Debt Fund 3 0 4 0
Axis Dynamic Bond Fund 4 17 9 11
Axis Dynamic Equity Fund 10 61 - -
Axis Arbitrage Fund 3 20 27 32
Axis Bluechip Fund 476 10472 573 3,548
Axis Equity Hybrid Fund 7 196 - -
Axis Equity Saver Fund 14 400 90 325
Axis Fixed Term Plan – Series 41 (546 Days) 1 7 - -
Axis Gold Fund 102 996 - -
Axis Hybrid Fund - Series 1 24 982 - -
Axis Hybrid Fund - Series 2 37 4213 - -
Axis Hybrid Fund - Series 5 (1346 days) 67 6426 - -
Axis Strategic Bond Fund 7 174 5 14
Axis Credit Risk Fund 10 103 9 36
Axis Regular Saver Fund 33 1169 167 1,023
Axis Midcap Fund 96 1456 35 189
Axis Multicap Fund 6 110 - -
Axis Small Cap Fund 5 537 37 771
Axis Short Term Fund 8 215 7 13
Axis Treasury Advantage Fund 31 515 1 1
Axis Triple Advantage Fund 140 2037 74 241
Axis Long Term Equity Fund 149 10886 1101 13,124
Axis Ultra Short Term Fund 1 99 5 1
Axis Fixed Term Plan – Series 59 (391 Days) 1 63 - -
Axis Emerging Opportunities Fund - Series 1 (1400 Days) - - 8 307
Axis Fixed Term Plan – Series 63 (91 days) - - 1 0
Axis Fixed Term Plan - Series 74 (1105 Days) - - 1 1
3,209 3,29,751 2202 20,290
This disclosure has been carried out for all the schemes and the amount is set aside at a pool level.
Note: The Amounts of Unclaimed Dividends and Redemptions which are pending for more than 3 months are considered as unclaimed
6. REDRESSAL OF COMPLAINTS RECEIVED AGAINST AXIS MUTUAL FUNDS DURING 2018-19
Please refer Annexure - 2 for the details on Redressal of Complaints received against Axis Mutual Fund during the financial year ended March 31, 2019.
7. STATUTORY INFORMATION
a. The Sponsor / Settlor is not responsible or liable for any loss resulting from the operation of the schemes of the Fund beyond their initial contribution (to the extent contributed) of Rs.
1,00,000/- for setting up the Fund, and such other accretions / additions to the same.
b. The price and redemption value of the units, and income from them, can go up as well as down with fluctuations in the market value of its underlying investments in securities or fair value.
c. Full Annual Report shall be disclosed on the website (www.axismf.com) and shall be available for inspection at the Head Office of the mutual fund. Present and prospective unit holder /
investors can obtain copy of the Trust Deed, the full Annual Report of the Fund / AMC at a price and the text of the relevant scheme.
ACKNOWLEDGEMENTS
The Trustee Company thanks the unitholders of the schemes for their overwhelming response and also thanks the Government of India, the Securities and Exchange Board of India (SEBI), the
Reserve Bank of India (RBI) and the Association of Mutual Funds in India (AMFI) for the guidance provided by them. The Trustee also appreciates the service provided by the Registrar and Transfer
Agent, Fund Accountant, Custodian, Bankers, Distributors and Brokers. The guidance and services provided by the auditors and legal advisors and the sincerity and dedication of the employees of
Axis AMC is also appreciated.
For Axis Mutual Fund Trustee Limited
Sd/- Sd/-
Mr. Bapi Munshi Dr. T. C. Nair
Director Director
Place: Mumbai
Date: May 28, 2019
5

Performance of the Scheme of Axis Mutual Fund for the period ended March 31, 2019 Annexure - 1
Returns to Investors^
NAV as Returns Since
Inception/ AUM on March Inception 1 year Return 3 years Return 5 years Return
Name of the Scheme Allotment Date (`in crores)31, 2019 Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
(` in) Return Returns Return Returns Return Returns Return Returns
(%) (%) (%) (%) (%) (%) (%) (%)
Axis Liquid Fund(G) October 9, 2009 21,028.05 2,065.0995 7.95% 7.88% 7.52% 7.39% 7.21% 7.03% 7.76% 7.59%
Benchmark: NIFTY Liquid Index
Axis Liquid Fund-Ret(G) March 1, 2010 1,949.9125 7.62% 8.08% 6.93% 7.39% 6.62% 7.03% 7.19% 7.59%
Axis Liquid Fund(G)-Direct Plan December 31, 2012 2,073.5234 8.12% 7.92% 7.57% 7.39% 7.28% 7.03% 7.83% 7.59%
Axis Treasury Advantage Fund(G) October 9, 2009 1,343.52 2,087.0312 8.08% 8.25% 7.75% 7.72% 7.43% 7.52% 7.86% 8.06%
Benchmark: NIFTY Low Duration Debt Index
Axis Treasury Advantage Fund(G)-Direct Plan January 1, 2013 2,144.8140 8.65% 8.21% 8.25% 7.72% 7.95% 7.52% 8.37% 8.06%
Axis Treasury Advantage Fund-Ret(G) March 3, 2010 1,953.0353 7.65% 8.37% 7.75% 7.72% 7.03% 7.52% 7.35% 8.06%
Axis Long Term Equity Fund(G)-Direct Plan January 1, 2013 18,851.87 46.9810 20.18% 13.35% 9.59% 12.06% 15.72% 16.11% 19.34% 14.39%
Benchmark: S&P BSE 200 TRI Index
Axis Long Term Equity Fund(G) December 29, 2009 43.7618 17.30% 10.73% 8.50% 12.06% 14.49% 16.11% 17.96% 14.39%
Benchmark: S&P BSE 200 TRI Index
Axis Bluechip Fund(G)-Direct Plan January 1, 2013 4,802.16 30.42 15.80% 12.71% 16.10% 16.40% 17.25% 16.10% 15.68% 13.07%
Benchmark: NIFTY 50 TRI
Axis Bluechip Fund(G) January 5, 2010 28.29 11.92% 10.26% 14.49% 16.40% 15.78% 16.10% 14.28% 13.07%
Axis Short Term Fund(G)-Direct Plan January 1, 2013 3,051.67 21.2173 8.81% 8.31% 8.00% 7.39% 8.15% 7.61% 8.85% 8.25%
Benchmark: NIFTY Short Duration Debt Index
Axis Short Term Fund(G) January 22, 2010 20.2245 7.97% 8.07% 7.28% 7.39% 7.41% 7.61% 8.04% 8.25%
Benchmark: NIFTY Short Duration Debt Index
Axis Short Term Fund-Ret(G) March 2, 2010 19.9963 7.93% 8.12% 7.28% 7.39% 7.41% 7.61% 8.05% 8.25%
Benchmark: CRISIL Short Term Bond Fund Index
Axis Regular Saver Fund (G)-Direct Plan January 4, 2013 272.19 21.1051 9.82% 9.50% 6.52% 9.77% 8.40% 9.82% 10.30% 9.61%
Benchmark: NIFTY 50 Hybrid Short Duration
Debt 25:75 Index
Axis Regular Saver Fund (G) July 16, 2010 19.4805 7.96% 9.14% 5.56% 9.77% 7.10% 9.82% 8.79% 9.61%
Benchmark: NIFTY 50 Hybrid Short Duration
Debt 25:75 Index
Axis Dynamic Bond Fund(G)-Direct Plan January 1, 2013 129.75 20.2334 9.23% 8.02% 8.38% 6.62% 8.43% 7.41% 9.81% 8.76%
Benchmark: NIFTY Composite Debt Index
Axis Dynamic Bond Fund(G) April 27, 2011 18.9061 8.37% 8.27% 7.48% 6.62% 7.48% 7.41% 8.65% 8.76%
Benchmark: NIFTY Composite Debt Index
Axis Triple Advantage Fund(G)-Direct Plan January 1, 2013 282.07 20.3349 7.85% 10.15% 4.94% 12.47% 9.07% 12.56% 9.08% 10.97%
Benchmark: NIFTY Composite Debt Index (20%),
Nifty 50 TRI (65%),Gold (15%)
Axis Triple Advantage Fund(G) August 23, 2010 19.0433 7.77% 9.57% 3.89% 12.47% 7.83% 12.56% 7.85% 10.97%
Benchmark: NIFTY Composite Debt Index (20%),
Nifty 50 TRI (65%),Gold (15%)
Axis Gold ETF November 10, 2010 108.16 2,787.1663 3.87% 4.40% 1.58% 2.38% 0.59% 2.96% 0.94% 2.81%
Benchmark: Domestic Price of Gold
Axis Midcap Fund(G)-Direct Plan January 1, 2013 2,198.76 39.20 18.36% 14.50% 10.33% -2.07% 17.80% 14.58% 20.53% 18.29%
Benchmark: S&P BSE Midcap TRI Index
Axis Midcap Fund(G) February 18, 2011 36.42 17.27% 12.44% 9.08% -2.07% 16.47% 14.58% 19.01% 18.29%
Benchmark: S&P BSE Midcap TRI Index
Axis Gold Fund(G)-Direct Plan January 1, 2013 45.74 10.6099 -1.20% -0.33% 3.79% 2.38% 2.54% 2.96% 0.01% 2.81%
Axis Gold Fund(G) October 20, 2011 9.8910 -0.15% 1.32% 3.13% 2.38% 1.73% 2.96% -1.09% 2.81%
Axis Capital Protection Oriented Fund - SERIES 5 - (G) November 2, 2012 58.82 16.4847 8.12% 9.30% 9.83% 7.65% 8.15% 8.96% 7.31% 10.02%
Benchmark: CRISIL Hybrid 85+15 - Conservative Index
Axis Gilt Fund (G)-Direct Plan January 1, 2013 35.96 16.4947 7.20% 7.36% 6.72% 8.95% 6.91% 7.38% 8.66% 8.76%
Benchmark: NIFTY All Duration G-Sec Index
Axis Gilt Fund(G) January 23, 2012 15.9733 6.74% 7.59% 6.19% 8.95% 6.36% 7.38% 8.11% 8.76%
Benchmark: NIFTY All Duration G-Sec Index
Axis Strategic Bond Fund(G)-Direct Plan January 7, 2013 1,239.71 19.1468 9.54% 8.23% 8.03% 6.76% 9.27% 7.56% 10.37% 8.63%
Benchmark: NIFTY Medium Duration Debt Index
Axis Strategic Bond Fund(G) March 28, 2012 18.1823 8.91% 8.67% 7.32% 6.76% 8.54% 7.56% 9.43% 8.63%
Benchmark: NIFTY Medium Duration Debt Index
Axis Banking & PSU Debt Fund(G)-Direct Plan January 1, 2013 4,580.52 1,768.9149 8.67% 8.13% 9.24% 6.39% 8.27% 7.31% 8.55% 8.28%
Benchmark: NIFTY Banking & PSU Debt Index
Axis Banking & PSU Debt Fund(G) June 8, 2012 1,747.0298 8.54% 8.35% 8.94% 6.39% 8.03% 7.31% 8.33% 8.28%
Benchmark: NIFTY Banking & PSU Debt Index
6

(%) (%) (%) (%) (%) (%) (%) (%)
Axis Focused 25 Fund(G)-Direct Plan January 1, 2013 7,189.83 29.23 15.86% 12.71% 9.08% 16.40% 18.48% 16.10% 17.99% 13.07%
Axis Focused 25 Fund(G) June 29, 2012 27.10 15.91% 13.78% 7.73% 16.40% 17.06% 16.10% 16.49% 13.07%
Axis Hybrid Fund-5-Reg(G) July 25, 2013 9.65 13.4418 5.35% 9.97% 4.62% 7.65% 3.69% 8.96% 3.93% 10.02%
Axis Hybrid Fund-5(G)-Direct Plan July 25, 2013 14.2204 6.40% 9.97% 5.82% 7.65% 4.76% 8.96% 4.96% 10.02%
Axis Hybrid Fund-6-Reg(G) August 16, 2013 4.47 13.8583 5.98% 10.67% 4.76% 7.65% 4.17% 8.96% 4.25% 10.02%
Axis Hybrid Fund-6(G)-Direct Plan August 16, 2013 14.6573 7.04% 10.67% 5.95% 7.65% 5.25% 8.96% 5.29% 10.02%
Axis Hybrid Fund-7-Reg(G) September 5, 2013 5.20 13.8586 6.04% 10.30% 4.74% 7.65% 4.42% 8.96% 4.44% 10.02%
Axis Small Cap Fund-Reg(G) November 29, 2013 294.44 27.64 21.01% 16.04% 0.73% -13.48% 13.25% 11.95% 19.54% 13.69%
Benchmark: Nifty Smallcap 100 TRI
Axis Small Cap Fund(G)-Direct Plan November 29, 2013 29.32 22.36% 16.04% 1.80% -13.48% 14.49% 11.95% 20.87% 13.69%
Benchmark: Nifty Smallcap 100 TRI
Axis Fixed Term Plan-64-Reg(G) April 23, 2014 9.74 14.4815 7.79% 8.31% 6.85% 7.55% 7.25% 7.60% NA NA
Benchmark: Crisil Short Term Bond Fund Index
Axis Fixed Term Plan-64-(G)-Direct Plan April 23, 2014 14.8546 8.35% 8.31% 7.38% 7.55% 7.79% 7.60% NA NA
Benchmark: Crisil Short Term Bond Fund Index
Axis Credit Risk Fund-Reg(G) July 15, 2014 1,644.72 14.5446 8.28% 9.09% 6.56% 6.97% 7.35% 8.29% NA NA
Benchmark: NIFTY Credit Risk Bond Index
Axis Credit Risk Fund(G)-Direct Plan July 15, 2014 15.3511 9.53% 9.09% 7.81% 6.97% 8.74% 8.29% NA NA
Benchmark: NIFTY Credit Risk Bond Index
Axis Arbitrage Fund-Reg(G) August 14, 2014 2,098.63 13.3786 6.50% 6.02% 5.87% 5.35% 6.11% 5.27% NA NA
Benchmark: Nifty 50 Arbitrage Index
Axis Arbitrage Fund(G)-Direct Plan August 14, 2014 13.8972 7.38% 6.02% 6.69% 5.35% 6.97% 5.27% NA NA
Benchmark: Nifty 50 Arbitrage Index
Axis Hybrid Fund-27-1351D-Reg(G) October 29, 2015 340.47 12.3262 6.31% 8.43% 7.12% 8.22% 7.64% 8.94% NA NA
Benchmark: Crisil Composite Bond Fund Index (85%)
and Nifty 50 TRI Index (15%)
Axis Hybrid Fund-27-1351D(G)-Direct Plan October 29, 2015 12.8832 7.70% 8.43% 8.52% 8.22% 9.07% 8.94% NA NA
Axis Hybrid Fund-28-1331D-Reg(G) November 18, 2015 293.97 12.8782 7.81% 8.76% 9.31% 8.22% 8.31% 8.94% NA NA
Axis Hybrid Fund-28-1331D(G)-Direct Plan November 18, 2015 13.4539 9.23% 8.76% 10.76% 8.22% 9.75% 8.94% NA NA
Axis Hybrid Fund-29-1275D-Reg(G) February 1, 2016 115.73 13.4649 9.88% 9.18% 10.22% 8.22% 8.67% 8.94% NA NA
Axis Hybrid Fund-29-1275D(G)-Direct Plan February 1, 2016 14.0348 11.34% 9.18% 11.68% 8.22% 10.12% 8.94% NA NA
Axis Hybrid Fund-30-1297D-Reg(G) February 11, 2016 150.88 14.0071 11.37% 9.70% 10.52% 8.22% 9.15% 8.94% NA NA
Axis Hybrid Fund-30-1297D(G)-Direct Plan February 11, 2016 14.5938 12.84% 9.70% 11.97% 8.22% 10.61% 8.94% NA NA
Axis Hybrid Fund-31-1381D-Reg(G) July 19, 2016 272.03 11.9336 6.78% 8.38% 6.95% 8.72% NA NA NA NA
Axis Hybrid Fund-31-1381D(G)-Direct Plan July 19, 2016 12.4430 8.45% 8.38% 8.50% 8.72% NA NA NA NA
Axis Hybrid Fund-32-1367D-Reg(G) August 9, 2016 401.37 11.8627 6.70% 7.97% 6.98% 8.72% NA NA NA NA
Axis Hybrid Fund-32-1367D(G)-Direct Plan August 9, 2016 12.2922 8.15% 7.97% 8.52% 8.72% NA NA NA NA
7

(%) (%) (%) (%) (%) (%) (%) (%)
Axis Hybrid Fund-33-1358D-Reg(G) September 9, 2016 394.34 11.9115 7.10% 7.63% 9.06% 8.72% NA NA NA NA
Axis Hybrid Fund-33-1358D(G)-Direct Plan September 9, 2016 12.3902 8.77% 7.63% 10.62% 8.72% NA NA NA NA
Axis Hybrid Fund-35-1359D-Reg(G) December 1, 2016 218.09 12.4872 10.03% 6.56% 9.57% 7.65% NA NA NA NA
Axis Hybrid Fund-35-1359D(G)-Direct Plan December 1, 2016 12.9362 11.72% 6.56% 11.15% 7.65% NA NA NA NA
Axis Emerging Opp Fund-1-1400D-Reg(G) December 29, 2016 586.70 12.36 9.89% 13.56% 1.81% -2.07% NA NA NA NA
Benchmark: S&P BSE Midcap TRI
Axis Emerging Opp Fund-1-1400D(G)-Direct Plan December 29, 2016 12.80 11.61% 13.56% 3.38% -2.07% NA NA NA NA
Axis Emerging Opp Fund-2-1400D-Reg(G) February 27, 2017 1,264.35 11.91 8.76% 7.79% 2.31% -2.07% NA NA NA NA
Axis Emerging Opp Fund-2-1400D(G)-Direct Plan February 27, 2017 12.30 10.45% 7.79% 3.96% -2.07% NA NA NA NA
Axis Children's Gift Fund-Compulsory Lock in(G)- December 8, 2015 403.07 13.6669 9.91% 12.38% 6.01% 13.11% 10.80% 13.18% NA NA
Direct Plan
"Benchmark: 50% Nifty 50 TRI Index + 50%
CrisilComposite Bond Fund Index"
Axis Children's Gift Fund-Compulsory Lock in-Reg(G) December 8, 2015 12.9689 8.18% 12.38% 4.41% 13.11% 9.04% 13.18% NA NA
Axis Children's Gift Fund-No Lock in(G)-Direct Plan December 8, 2015 13.7801 10.18% 12.38% 6.08% 13.11% 11.04% 13.18% NA NA
Axis Children's Gift Fund-No Lock in-Reg(G) December 8, 2015 12.9673 8.17% 12.38% 4.41% 13.11% 9.04% 13.18% NA NA
Axis Equity Saver Fund-Reg(G) August 14, 2015 759.77 12.78 7.00% 8.08% 8.37% 9.95% 9.01% 9.96% NA NA
Benchmark: NIFTY 50 Equity Savings Index
Axis Equity Saver Fund(G)-Direct Plan August 14, 2015 13.34 8.28% 8.08% 9.68% 9.95% 10.29% 9.96% NA NA
Benchmark: NIFTY 50 Equity Savings Index
Axis Equity Advantage Fund-1-Reg(G) May 25, 2017 969.78 11.39 7.31% 11.35% 6.04% 14.06% NA NA NA NA
Benchmark: Nifty 50 TRI Index (75%) + CRISIL
Composite Bond Fund Index (25%)
Axis Equity Advantage Fund-1-(G)-Direct Plan May 25, 2017 11.73 9.04% 11.35% 7.59% 14.06% NA NA NA NA
Benchmark: Nifty 50 TRI Index (75%) + CRISIL
Composite Bond Fund Index (25%)
Axis Nifty ETF July 3, 2017 7.38 1,186.3944 13.56% 12.99% 16.33% 16.40% NA NA NA NA
Axis Corp Debt Fund-Reg(G) July 13, 2017 240.98 11.3988 7.96% 6.23% 8.77% 6.72% NA NA NA NA
Benchmark: NIFTY Corporate Bond Index
Axis Corp Debt Fund(G)-Direct Plan July 13, 2017 11.5665 8.89% 6.23% 9.67% 6.72% NA NA NA NA
Benchmark: NIFTY Corporate Bond Index
Axis Dynamic Equity Fund-Reg(G) August 1, 2017 2,347.82 10.92 5.45% 7.67% 5.49% 11.65% NA NA NA NA
Benchmark: NIFTY 50 Hybrid Composite Debt 50:50 Index
Axis Dynamic Equity Fund(G)-Direct Plan August 1, 2017 11.23 7.25% 7.67% 7.24% 11.65% NA NA NA NA
Benchmark: NIFTY 50 Hybrid Composite Debt 50:50 Index
Axis Equity Advantage Fund-2-Reg(G) August 3, 2017 94.23 10.94 5.59% 9.30% 8.51% 14.06% NA NA NA NA
Benchmark: Nifty 50 TRI Index (75%) +
CRISIL Composite Bond Fund Index (25%)
Axis Equity Advantage Fund-2-(G)-Direct Plan August 3, 2017 11.28 7.56% 9.30% 10.45% 14.06% NA NA NA NA
Benchmark: Nifty 50 TRI Index (75%) +
CRISIL Composite Bond Fund Index (25%)
Axis Multicap Fund-Reg(G) November 20, 2017 3,298.54 11.33 9.67% 5.19% 12.92% 9.70% NA NA NA NA
Benchmark: Nifty 500 TRI
Axis Multicap Fund(G)-Direct Plan November 20, 2017 11.59 11.52% 5.19% 14.82% 9.70% NA NA NA NA
Axis Capital Builder Fund-1-1540D-Reg(G) March 8, 2018 444.61 10.05 0.47% 8.30% 0.30% 9.70% NA NA NA NA
Axis Capital Builder Fund-1-1540D(G)-Direct Plan March 8, 2018 10.22 2.08% 8.30% 1.89% 9.70% NA NA NA NA
8

(%) (%) (%) (%) (%) (%) (%) (%)
Axis Capital Builder Fund-4-1582D-Reg(G) ^ December 21, 2018 894.45 10.57 5.70% 6.67% NA NA NA NA NA NA
Axis Capital Builder Fund-4-1582D-Reg(G)-Direct Plan ^ December 21, 2018 10.62 6.20% 6.67% NA NA NA NA NA NA
Axis Equity Hybrid Fund-Reg(G) ^ August 9, 2018 2,212.30 10.08 0.80% 2.44% NA NA NA NA NA NA
Benchmark: CRISIL Hybrid 35+65 - Aggressive Index
Axis Equity Hybrid Fund(G)-Direct Plan ^ August 9, 2018 10.19 1.90% 2.44% NA NA NA NA NA NA
Benchmark: CRISIL Hybrid 35+65 - Aggressive Index
Axis Growth Opportunities Fund-Reg(G) ^ October 22, 2018 694.22 10.62 6.20% 10.14% NA NA NA NA NA NA
Benchmark: NIFTY 50 Hybrid Composite
Debt 50:50 Index
Axis Growth Opportunities Fund(G)-Direct Plan ^ October 22, 2018 10.72 7.20% 10.14% NA NA NA NA NA NA
Benchmark: NIFTY 50 Hybrid Composite
Debt 50:50 Index
Axis Overnight Fund-Reg(G) ^ March 15, 2019 226.95 1,002.8937 0.29% 0.30% NA NA NA NA NA NA
Axis Overnight Fund(G)-Direct Plan ^ March 15, 2019 1,002.9164 0.29% 0.30% NA NA NA NA NA NA
Axis Ultra Short Term Fund-Reg(G) ^ September 10, 2018 1,155.07 10.4523 4.52% 4.70% NA NA NA NA NA NA
Benchmark: CRISIL Ultra Short Term Debt Index
Axis Ultra Short Term Fund(G)-Direct Plan ^ September 10, 2018 10.5001 5.00% 4.70% NA NA NA NA NA NA
Benchmark: CRISIL Ultra Short Term Debt Index
Axis Fixed Term Plan-95-Reg(G) ^ July 4, 2018 97.56 10.7301 7.30% 7.35% NA NA NA NA NA NA
Benchmark: CRISIL Composite Bond Fund index
Axis Fixed Term Plan-95-(G)-Direct Plan ^ July 4, 2018 10.7582 7.58% 7.35% NA NA NA NA NA NA
Benchmark: CRISIL Composite Bond Fund index
Axis Fixed Term Plan-96-Reg(G) ^ September 3, 2018 48.35 10.3873 3.87% 6.02% NA NA NA NA NA NA
Benchmark: 50% CRISIL Composite Bond Fund Index
+ 50% CRISIL Short Term Bond Fund Index
Axis Fixed Term Plan-96-(G)-Direct Plan ^ September 3, 2018 10.4026 4.03% 6.02% NA NA NA NA NA NA
Axis Fixed Term Plan-97-Reg(G) ^ September 11, 2018 355.94 10.4439 4.44% 6.53% NA NA NA NA NA NA
Axis Fixed Term Plan-97-(G)-Direct Plan ^ September 11, 2018 10.4537 4.54% 6.53% NA NA NA NA NA NA
Axis Fixed Term Plan-100-Reg(G) ^ January 22, 2019 22.71 10.2431 2.43% 2.06% NA NA NA NA NA NA
Axis Fixed Term Plan-100-(G)-Direct Plan ^ January 22, 2019 10.2478 2.48% 2.06% NA NA NA NA NA NA
Axis Fixed Term Plan-101-Reg(G) ^ February 13, 2019 27.27 10.1769 1.77% 1.37% NA NA NA NA NA NA
Axis Fixed Term Plan-101-(G)-Direct Plan ^ February 13, 2019 10.1800 1.80% 1.37% NA NA NA NA NA NA
Axis Fixed Term Plan-102-Reg(G) ^ March 6, 2019 32.27 10.1163 1.16% 1.20% NA NA NA NA NA NA
Axis Fixed Term Plan-102-(G)-Direct Plan ^ March 6, 2019 10.1180 1.18% 1.20% NA NA NA NA NA NA
Axis Fixed Term Plan-104-Reg(G) ^ March 28, 2019 89.14 10.0128 0.13% 0.10% NA NA NA NA NA NA
Axis Fixed Term Plan-104-(G)-Direct Plan ^ March 28, 2019 10.0130 0.13% 0.10% NA NA NA NA NA NA
^ Schemes launched during the F.Y. 2018-19
9
Annexure - 2
Investor Complaints Report
Redressal of Complaints received against Axis Mutual Fund during 2018-19
Total Number of Folios : 38,89,364
(a) No. of Action on (a) and (b)
complaints (b) No. of
Complaint Type of Complaint# pending at the Complaints Resolved Pending
Code Non
beginning of received during Within 30-60 60-180 Beyond Actionable* 0-3 3-6 6-9 9-12
the year the year 30 days days days 180 days months months months months
IA Non receipt of Dividend on Units 0 1 1 0 0 0 0 0 0 0 0
IB Interest on delayed payment of Dividend 0 26 24 2 0 0 0 0 0 0 0
IC Non receipt of Redemption Proceeds 0 20 19 1 0 0 0 0 0 0 0
ID Interest on delayed payment of Redemption 0 45 45 0 0 0 0 0 0 0 0
II A Non receipt of Statement of Account/Unit Certificate 0 0 0 0 0 0 0 0 0 0 0
II B Discrepancy in Statement of Account 0 0 0 0 0 0 0 0 0 0 0
II C Data corrections in Investor details 0 25 23 1 0 0 0 1 0 0 0
II D Non receipt of Annual Report/Abridged Summary 0 0 0 0 0 0 0 0 0 0 0
III A Wrong switch between Schemes 0 0 0 0 0 0 0 0 0 0 0
III B Unauthorized switch between Schemes 0 0 0 0 0 0 0 0 0 0 0
III C Deviation from Scheme attributes 0 0 0 0 0 0 0 0 0 0 0
III D Wrong or excess charges/load 0 0 0 0 0 0 0 0 0 0 0
III E Non updation of changes viz. address, PAN, 5 461 446 6 2 0 0 12 0 0 0
bank details, nomination, etc
IV Others** 0 0 0 0 0 0 0 0 0 0 0
TOTAL 5 578 558 10 2 0 0 13 0 0 0
# including against its authorized persons/ distributors/ employees. etc.
*Non actionable means the complaint that are incomplete / outside the scope of the mutual fund.
** If others include a type of complaint which is more than 10% of overall complaint, provide that reason separately.
10
INDEPENDENT AUDITOR’S REPORT
To the Trustees of
Axis Mutual Fund – Axis Banking & PSU Debt Fund
Report on the Audit of the Financial Statements
Opinion
We have audited the accompanying financial statements of Axis Banking & PSU Debt Fund (“the
Scheme”), which comprise the Balance sheet as at March 31, 2019, the Revenue Account and the Cash
Flow Statement for the year then ended, and notes to the financial statements, including a summary of
significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid financial statements of the Scheme give a true and fair view in conformity with the accounting
principles generally accepted in India, including the accounting policies and standards specified in the
Ninth Schedule to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as
amended (“the SEBI Regulations”):
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at March 31, 2019;
(b) in the case of the Revenue Account, of the surplus for the year ended on that date; and
(c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit of the financial statements in accordance with the Standards on Auditing (SAs)
issued by the Institute of Chartered Accountants of India (‘ICAI’). Our responsibilities under those
Standards are further described in the ‘Auditor’s Responsibilities for the Audit of the Financial
Statements’ section of our report. We are independent of the Scheme in accordance with the ‘Code of
Ethics’ issued by ICAI together with the ethical requirements that are relevant to our audit of the
financial statements, and we have fulfilled our other ethical responsibilities in accordance with these
requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion on the financial statements.
Responsibilities of Management for the Financial Statements
The Management of Axis Asset Management Company Limited (hereinafter referred to as ‘the AMC’),
the Scheme’s asset manager, is responsible for the preparation of these financial statements that give a
true and fair view of the financial position, financial performance and cash flows of the Scheme in
accordance with accounting principles generally accepted in India, including the accounting policies
and standards specified in the Ninth Schedule to the SEBI Regulations. This responsibility includes
maintenance of adequate accounting records in accordance with the SEBI regulations, the design,
implementation and maintenance of internal controls relevant to the preparation and presentation of the
financial statements that give a true and fair view and are free from material misstatement, whether due
to fraud or error.
In preparing the financial statements, management is responsible for assessing the Scheme’s ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless management either intends to liquidate the Scheme or to cease
operations or has no realistic alternative but to do so.
11
Those Charged with Governance are also responsible for overseeing the Scheme’s financial reporting
process.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Scheme’s ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in our
auditor’s report to the related disclosures in the financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to
the date of our auditor’s report. However, future events or conditions may cause the Scheme to
cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events
in a manner that achieves fair presentation.
We communicate with the management of the AMC, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that
we identify during our audit.
We also provide to the management of the AMC with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.
12
Report on Other Legal and Regulatory Requirements

1. As required by regulation 55(4) and clause 5(ii)(2) of the Eleventh Schedule of the SEBI
Regulations, we report that:
(a) We have sought and obtained all the information and explanations which, to the best of our
knowledge and belief were necessary for the purposes of our audit;
(b) In our opinion, the balance sheet and revenue account dealt with by this report have been
prepared in conformity with the accounting policies and standards specified in the Ninth
Schedule to the SEBI Regulations.
(c) The balance sheet, the revenue account and the cash flow statement, dealt with by this report
are in agreement with the books of accounts of the Scheme.
2. As required by the Eight Schedule of the SEBI Regulations, we report that:
(a) In our opinion, and on the basis of information and explanations given to us, the methods used
to value non-traded securities as at March 31, 2019 are in accordance with the SEBI
Regulations and other guidelines approved by the Board of Directors of the Axis Mutual Fund
Trustee Limited, and are fair and reasonable.
For S.R. Batliboi & Co. LLP

Chartered Accountants
ICAI Firm Registration Number: 301003E/E300005
______________________________
per Jayesh Gandhi
Partner
Membership Number: 037924
Place of Signature: Mumbai

Date: May 28, 2019
13
To the Trustees of
Axis Mutual Fund – Axis Overnight Fund
Opinion
We have audited the accompanying financial statements of Axis Overnight Fund (“the Scheme”), which
comprise the Balance sheet as at March 31, 2019 and the Revenue Account for the period then ended,
and notes to the financial statements, including a summary of significant accounting policies and other
explanatory information.
and
(b) in the case of the Revenue Account, of the surplus for the period ended on that date
Basis for Opinion
true and fair view of the financial position and financial performance of the Scheme in accordance with
accounting principles generally accepted in India, including the accounting policies and standards
specified in the Ninth Schedule to the SEBI Regulations. This responsibility includes maintenance of
adequate accounting records in accordance with the SEBI regulations, the design, implementation and
maintenance of internal controls relevant to the preparation and presentation of the financial statements
that give a true and fair view and are free from material misstatement, whether due to fraud or error.
process.
14
safeguards.
15
(c) The balance sheet and the revenue account, dealt with by this report are in agreement with the
books of accounts of the Scheme.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
16
To the Trustees of
Axis Mutual Fund – Axis Dynamic Bond Fund
Opinion
We have audited the accompanying financial statements of Axis Dynamic Bond Fund (“the Scheme”),
which comprise the Balance sheet as at March 31, 2019 and the Revenue Account for the year then
ended, and notes to the financial statements, including a summary of significant accounting policies and
other explanatory information.
and
(b) in the case of the Revenue Account, of the surplus for the year ended on that date
Basis for Opinion
process.
17
safeguards.
18

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
19
To the Trustees of
Axis Mutual Fund – Axis Treasury Advantage Fund
Opinion
We have audited the accompanying financial statements of Axis Treasury Advantage Fund (“the
Basis for Opinion
to fraud or error.
process.
20
safeguards.
21

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
22
To the Trustees of
Axis Mutual Fund – Axis Strategic Bond Fund
Opinion
We have audited the accompanying financial statements of Axis Strategic Bond Fund (“the Scheme”),
which comprise the Balance sheet as at March 31, 2019, the Revenue Account and the Cash Flow
Statement for the year then ended, and notes to the financial statements, including a summary of
Basis for Opinion
to fraud or error.
process.
23
safeguards.
24

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
25
To the Trustees of
Axis Mutual Fund – Axis Short Term Fund
Opinion
We have audited the accompanying financial statements of Axis Short Term Fund (“the Scheme”),
Basis for Opinion
to fraud or error.
process.
26
safeguards.
27

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
28
To the Trustees of
Axis Mutual Fund – Axis Liquid Fund
Opinion
We have audited the accompanying financial statements of Axis Liquid Fund (“the Scheme”), which
comprise the Balance sheet as at March 31, 2019, the Revenue Account and the Cash Flow Statement
for the year then ended, and notes to the financial statements, including a summary of significant
accounting policies and other explanatory information.
Basis for Opinion
to fraud or error.
process.
29
safeguards.
30

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
31
Balance Sheet
(All amounts in thousands of Rupees)
AXIS TREASURY AXIS TREASURY AXIS BANKING & AXIS BANKING & AXIS SHORT AXIS SHORT AXIS STRATEGIC AXIS STRATEGIC AXIS DYNAMIC AXIS DYNAMIC AXIS OVERNIGHT
AXIS LIQUID FUND AXIS LIQUID FUND ADVANTAGE FUND ADVANTAGE FUND PSU DEBT FUND PSU DEBT FUND TERM FUND TERM FUND BOND FUND BOND FUND BOND FUND BOND FUND FUND
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 116,095,556 85,985,040 7,389,475 15,334,909 26,382,408 4,542,234 14,710,325 30,708,395 6,766,943 8,041,391 707,002 1,330,880 2,262,870
Reserves and surplus 2(b) & 4 94,200,539 62,724,353 6,045,535 10,702,959 19,423,015 2,347,432 15,805,383 26,383,236 5,630,279 5,675,747 590,476 969,924 6,595
Loans 2(f) & 16 34,897,409 39,119,610 - 1,768,111 - - - - - - - - -
Current liabilities 5 1,676,683 365,472 117,905 86,852 83,093 4,505 789,249 250,702 115,158 44,914 2,018 249,262 1,218
246,870,187 188,194,475 13,552,915 27,892,831 45,888,516 6,894,171 31,304,957 57,342,333 12,512,380 13,762,052 1,299,496 2,550,066 2,270,683
APPLICATION OF FUNDS
Investments 2(c), 6 & 24 244,365,704 178,552,622 12,488,157 26,726,308 40,274,285 6,689,938 29,483,458 55,392,573 11,928,822 13,151,408 1,218,735 2,194,348 -
Deposits 7 - 9,000,000 - - - - - - - - - - -
Other current assets 8 2,504,483 641,853 1,064,758 1,166,523 5,614,231 204,233 1,821,499 1,949,760 583,558 610,644 80,761 355,718 2,270,683
246,870,187 188,194,475 13,552,915 27,892,831 45,888,516 6,894,171 31,304,957 57,342,333 12,512,380 13,762,052 1,299,496 2,550,066 2,270,683
The accompanying schedules are an integral part of this balance sheet.

As per our report of even date.
For S.R. Batliboi & Co. LLP For and on behalf of For and on behalf of
ICAI Firm Registration No. 301003E/E300005 Axis Mutual Fund Trustee Limited Axis Asset Managenent Company Limited
32
per Jayesh Gandhi Bapi Munshi T.C. Nair Chandresh Kumar Nigam U.R. Bhat
Partner Director Director Managing Director & CEO Director
Membership No. 37924
R. Sivakumar Devang Shah Aditya Pagaria

Head-Fixed Income & Fund Manager Fund Manager-Fixed Income Fund Manager-Fixed Income
Place: Mumbai Dhaval Patel

Date: May 28, 2019 Fund Manager-Fixed Income
Revenue Account
AXIS TREASURY AXIS TREASURY AXIS AXIS AXIS

AXIS LIQUID AXIS LIQUID ADVANTAGE ADVANTAGE AXIS BANKING & AXIS BANKING & AXIS SHORT AXIS SHORT STRATEGIC STRATEGIC AXIS DYNAMIC AXIS DYNAMIC OVERNIGHT
FUND FUND FUND FUND PSU DEBT FUND PSU DEBT FUND TERM FUND TERM FUND BOND FUND BOND FUND BOND FUND BOND FUND FUND
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 March 15, 2019
to to to to to to to to to to to to to
Schedule
INCOME AND GAINS
Interest 2(d) & 9 18,519,652 14,682,177 1,754,970 2,030,759 1,262,973 537,290 3,831,457 5,084,806 1,161,324 647,235 142,157 249,045 9,324
Profit on sale/redemption of investments (including F&O), net 2(d) - - - 166,434 - - - - - 7,074 10,413 - -
Profit on inter-scheme transfer/sale of investments, net 2(d) 4,137 - - - - 1,652 - 13,737 - 1,609 - 5,605 -
Load Income - - - - - 2 - 5 19,897 6,684 78 1,410 -
Other Income 64 8 28 619 - # 23,765 75 6,038 # 5 # -
Net change in marked to market in value of investments 2(c) & 6(ii) (32,507) 126,762 (7,269) (2,834) 633,462 1,254 242,839 (422,304) (29,398) (68,265) (4,245) (33,777) -
Total 18,491,346 14,808,947 1,747,729 2,194,978 1,896,435 540,198 4,098,061 4,676,319 1,157,861 594,337 148,408 222,283 9,324
EXPENSES AND LOSSES
Loss on sale/redemption of investments (including F&O), net 2(d) 29,884 8,365 35,811 - 7,278 8,799 298,748 22,765 11,263 - - 46,468 -
Loss on inter-scheme transfer/sale of investments, net 2(d) - 6,325 35,091 15,537 23,034 - 167,398 - 72,401 - 8,914 - -
Management fee 10 131,759 107,191 64,311 92,518 38,668 15,274 124,711 213,568 76,072 60,228 15,325 32,117 82
Service Tax / GST on Management Fees 23,716 17,713 11,576 15,744 6,960 2,645 22,448 36,744 13,694 10,650 2,758 5,532 14
Trusteeship fee 10 1,670 1,512 147 203 105 51 325 472 91 56 12 23 2
Investor education expense 50,188 43,971 4,397 5,980 3,196 1,470 9,694 13,806 2,710 1,567 362 666 30
Custodian service charges 9,965 20,846 827 2,835 723 697 2,068 7,058 554 805 75 340 8
Registrar service charges 30,696 27,304 5,512 7,785 1,909 947 19,482 27,551 4,992 3,184 723 1,352 6
33
Commission to distributors 10,012 2,655 8,803 - 7,145 - 16,783 - 26,185 - 3,147 - -
Audit fee 385 441 266 272 197 186 344 373 139 121 135 123 7
Marketing expenses 114 - 7 - 12 - 20 - 6 55 1 - -
Listing fee 369 65 91 23 74 24 85 9 67 4 46 3 -
Other operating expenses 8,188 6,481 1,247 1,429 321 293 1,015 2,026 532 353 140 225 10
Less: Expenses reimbursed/to be reimbursed by AMC - - - - - (122) - (43) - - - (69) -
Total 296,946 242,869 168,086 142,326 89,622 30,264 663,121 324,329 208,706 77,023 31,638 86,780 159
Surplus / (Deficit) for the year/ period 18,194,400 14,566,078 1,579,643 2,052,652 1,806,813 509,934 3,434,940 4,351,990 949,155 517,314 116,770 135,503 9,165
Transfer from / (to) unrealised appreciation reserve 32,507 (126,762) 7,269 2,834 (633,462) (227) (1,530) 180,995 - 23,134 - 28,480 -
Equalisation (debit) / credit 2(e) 26,227,863 (4,098,916) (5,977,767) (5,632,232) 15,150,806 315,797 (14,037,951) (2,428,688) (856,691) 3,844,794 (457,757) (464,016) (2,563)
Transfer from retained surplus 121,513 50,401 30,463 17,789 22,830 31,691 23,197 22,635 4,696 6,863 1,814 8,727 -
Dividend distribution (1,685,167) (990,335) (157,031) (216,840) (42,971) (51,549) (25,116) (82,053) (6,873) (13,107) (3,038) (7,632) (5)
Dividend distribution tax on dividend distribution (773,269) (461,500) (66,631) (93,576) (17,009) (21,695) (11,466) (37,563) (2,745) (5,153) (1,279) (3,354) (2)
Surplus / (Deficit) transferred to the retained surplus 4 42,117,847 8,938,966 (4,584,054) (3,869,373) 16,287,007 783,951 (10,617,926) 2,007,316 87,542 4,373,845 (343,490) (302,292) 6,595
# Amount less than Rs. 0.5 thousand
The accompanying schedules are an integral part of this revenue account.


Cash Flow Statement

AXIS TREASURY AXIS TREASURY AXIS BANKING & AXIS BANKING & AXIS SHORT AXIS SHORT AXIS STRATEGIC AXIS STRATEGIC
Particulars AXIS LIQUID FUND AXIS LIQUID FUND ADVANTAGE FUND ADVANTAGE FUND PSU DEBT FUND PSU DEBT FUND TERM FUND TERM FUND BOND FUND BOND FUND
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017
to to to to to to to to to to
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
A. Cashflow from operating activities
Net Surplus / (Deficit) for the year 18,194,400 14,566,078 1,579,643 2,052,652 1,806,813 509,934 3,434,940 4,351,990 949,155 517,314
Adjustments for:-
Net change in marked to market in value of investments 32,507 (126,762) 7,269 2,834 (633,462) (1,254) (242,839) 422,304 29,398 68,265
(Increase)/Decrease in investments at cost (66,143,053) (33,504,385) 13,855,426 (2,983,854) (32,950,885) (1,056,153) 26,190,650 2,692,250 1,292,956 (11,065,934)
(Increase)/Decrease in other current assets (190,393) (134,563) 174,973 111,505 (1,032,922) 71,763 1,026,997 223,778 (52,665) (177,785)
Increase/(Decrease) in current liabilities 13,378 11,502 10,124 25,804 62,657 (3,614) 30,050 14,219 (1,154) 11,069
(Increase)/Decrease in deposits 9,000,000 5,500,000 - - - - - - - -
Interest expense on borrowing 726,513 1,086,976 315 632 - - 2,298 - - -
Net cash used in operations (A) (38,366,648) (12,601,154) 15,627,750 (790,427) (32,747,799) (479,324) 30,442,096 7,704,541 2,217,690 (10,647,071)
B Cashflow from financing activities

Increase/(Decrease) in unit capital 30,022,654 4,943,740 (7,942,207) (4,325,980) 21,854,412 205,631 (15,985,759) (4,310,987) (1,296,188) 6,503,497
Increase/(Decrease) in unit premium reserve 15,740,222 (4,420,489) (6,013,405) 395,274 15,328,750 275,504 (13,976,211) (2,755,156) (985,005) 4,311,574
Proceeds from borrowing 2,724,928,907 4,630,996,017 1,768,111 - - - - - -
Repayment of borrowing (2,729,151,108) (4,616,240,710) (1,768,111) - - - - -
Interest paid on borrowing (733,469) (1,063,044) (1,574) 627 - - (2,298) - - -
Adjustments for:-
Increase/(Decrease) in redemption payable for units
4,128 3,740 19,542 6,939 1,723 864 (2,802) (522,944) (6,625) 6,749
redeemed by investors
34
(Increase)/Decrease in subscription receivable for units
issued to investors (156) (2) (2,420) (2,226) (5,359) 558 (1,384) 948 369 (879)
Dividend paid (including tax thereon) (2,455,312) (1,447,707) (224,244) (309,693) (60,010) (73,286) (36,582) (121,081) (9,623) (19,445)
Net cash generated from financing activities (B) 38,355,866 12,771,545 (15,932,419) (2,466,948) 37,119,516 409,271 (30,005,036) (7,709,220) (2,297,072) 10,801,496
Net Increase/(Decrease) in cash and cash equivalents (A+B) (10,782) 170,391 (304,669) (3,257,375) 4,371,717 (70,053) 437,060 (4,679) (79,382) 154,425
Cash and Cash Equivalents as at the beginning of the year 318,095 147,704 722,504 3,979,879 110,134 180,187 113,951 118,630 273,055 118,630
Cash and Cash Equivalents as at the close of the year 307,313 318,095 417,835 722,504 4,481,851 110,134 551,011 113,951 193,673 273,055
Component of cash and cash equivalents March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Balances with banks in current accounts 287,304 103,980 163,719 62,409 196,108 2,832 75,213 31,520 41,938 74,298
Collateralised lending, Reverse Repo and Tri-Party Repo 20,009 214,115 254,116 660,095 4,285,743 107,302 475,798 82,431 151,735 198,757
Total 307,313 318,095 417,835 722,504 4,481,851 110,134 551,011 113,951 193,673 273,055



Schedules to the financial statements for the year/period ended March 31, 2019
1. BACKGROUND
Axis Bank Limited is the sponsor of Axis Mutual Fund ('The Fund').
In accordance with the Securities and Exchange Board of India ('SEBI') (Mutual Funds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of Axis Mutual Fund
Trustee Limited ('the Trustee') has appointed Axis Asset Management Company Limited ('the AMC') to manage the Fund's affairs and operate its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset ManagementCompany Limited and the balance 25% plus one
equity share is held by Schroders Investment Management (Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroders Singapore Holdings Private Limited
(SSHPL), both subsidiaries of Schroders plc.
The key features of the following schemes of Axis Mutual Fund are as below:
Scheme Name Type of Scheme Investment objective of the Scheme NFO Open Options
NFO Close
Axis Liquid Fund An Open-ended Liquid To provide a high level of liquidity with reasonable October 8, 2009 Retail Growth
Scheme returns commensurating with low risk through a to Retail Daily Dividend
portfolio of money market and debt securities. October 8, 2009 Retail Weekly Dividend
However, there can be no Retail Monthly Dividend
assurance that the investment objective of the Growth
Scheme will be achieved. Daily Dividend
Weekly Dividend
Monthly Dividend
Bonus
Direct Growth
Direct Daily Dividend
Direct Weekly Dividend
Direct Monthly Dividend
Direct Bonus
Axis Treasury Advantage Fund An open ended low duration The investment objective is to provide optimal October 8, 2009 Retail Growth
debt scheme investing in returns and liquidity to the investors by to Retail Daily Dividend
instruments such that the investing primarily in a mix of money market and October 8, 2009 Retail Weekly Dividend
Macaulay duration of the short term debt instruments which results Retail Monthly Dividend
portfolio is in a portfolio having marginally higher maturity as Growth
between 6 to 12 months compared to a liquid fund at the same Daily Dividend
time maintaining a balance between safety and Weekly Dividend
liquidity. However, there can be no Monthly Dividend
assurance that the investment objective of the Bonus
scheme will be achieved. Direct Growth
Direct Bonus
Axis Banking & PSU Debt Fund An open ended debt scheme To generate stable returns by investing May 30, 2012 Growth
predominantly investing in predominantly in debt & money market instruments to Daily Dividend
debt instruments of banks, issued by Banks, Public Sector Units (PSUs) & June 7, 2012 Weekly Dividend
Public Sector Undertakings & Public Financial Institutions (PFIs). The scheme Monthly Dividend
Public Financial Institutions. shall endeavor to generate optimum returns with Bonus
low credit risk. Direct Growth
Direct Bonus
Axis Short Term Fund An open ended short term The scheme will endeavor to generate stable January 19, 2010 Bonus
debt scheme investing in returns with a low risk strategy while to Growth
instruments such that the maintaining liquidity through a portfolio comprising January 20, 2010 Weekly Dividend
Macaulay duration of the of debt and money market Monthly Dividend
portfolio is instruments. However, there can be no assurance Regular Dividend
between 1 year to 3 years that the investment objective of the Retail Growth
scheme will be achieved. Retail Monthly Dividend
Retail Weekly Dividend
Direct Bonus
Direct Growth
Direct Regular Dividend
Axis Strategic Bond Fund {formerly An open ended medium term To generate optimal returns in the medium term March 09, 2012 Growth
known as "Axis Regular Savings debt scheme investing in while maintaining liquidity of the portfolio by to Quarterly Dividend
Fund"} # instruments such that the investing in debt and money market instruments. March 21, 2012 Half Yearly Dividend
Macaulay duration of the Bonus
portfolio is Direct Growth
between 3 years to 4 years Direct Quarterly Dividend
Direct Half Yearly Dividend
Direct Bonus
Axis Dynamic Bond Fund An open ended dynamic debt To generate optimal returns while maintaining April 6, 2011 Growth
scheme investing across liquidity through active management of a portfolio of to Quarterly Dividend
duration. debt and money market instruments. April 20, 2011 Half Yearly Dividend
Bonus
Direct Growth
Direct Quarterly Dividend
Direct Bonus
35
Schedules to the financial statements for the year/period ended March 31, 2019 (Contd.)
Axis Overnight Fund An Open-ended Overnight The investment objective of the Scheme is to March 7, 2019 Growth
Scheme provide reasonable returns commensurate with to Quarterly Dividend
very low interest rate risk and providing a high level March 15, 2019 Half Yearly Dividend
of liquidity, through investments made primarily in Bonus
overnight securities having maturity/residual Direct Growth
maturity of 1 business day. Direct Quarterly Dividend
Direct Bonus
# Pursuant to SEBI Circulars dated October 6, 2017 and December 4, 2017 on schemes Categorization and Rationalization, name of the scheme has been changed w.e.f. May
18, 2018.
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each other,
or are interdependent or comparable in any way.
All the above schemes have been collectively referred to as "Schemes".
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked-to-market’. The
significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the AMC and the Trustee, are stated
below.
(a) Determination of net asset value ('NAV')
The net asset value of the units are determined separately for the units issued under the Options.
For reporting the net asset value within the portfolio,the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the value of investments, and
expenses accrued, are allocated to the related options in proportionto their respective daily net assets arrived at by multiplyingday-end outstandingunits by previous day's closing
NAV.
(b) Unit capital and Resreve & Surplus
Unit capital represents the net outstanding units at the balance sheet date, thereby reflecting all transactions relating to the period ended on that date.
Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of each Option.
(c) Investments
Accounting for investments
Transactions for purchase and sale of investments are recorded on trade date.
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage,transaction costs, CCIL charges and
any other charges customarily included in the broker’s note. Capitalisationof such brokerageand transaction costs incurred for the purpose of execution of trades is restricted to 5
bps in case of derivative transactions. Any cost in excess of the specified limit is charged to the revenue account of the scheme as part of the total expense ratio.
Front end discount received on privately placed debt instruments is reduced from the cost of the investment.
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest receivable and debited
to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is credited to ‘Accrued Income Account’.
Valuation of investments
All investments are stated at their market / fair value at the balance sheet date.
Interest Rate Futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available on valuation
date on the respective stock exchange, settlement price is considered for valuation. Futures contracts, which are going to expire on valuation date are valued at settlement price.
Units of listed mutual fund schemes, which are traded, are valued at the closing traded price on the respective stock exchange (where the scheme is listed) as on the valuation
date. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published on AMFIwebsite as on the valuation
date.
Government securities (including State Development Loans) are valued at the average of the prices released by CRISIL and ICRA, as suggested by AMFI,on the basis of the
valuation principles laid down by SEBI.
Treasury Bills (including cash management bills) with residual maturity greater than 60 days, are valued at the average of the prices released by CRISIL and ICRA, as suggested
by AMFI,on the basis of the valuationprinciples laid down by SEBI. The difference between last traded/valuedprice and next business day's (T+1) aggregatedprice received from
CRISIL and ICRA is amortised linearly upto the day preceding the next business day.
Treasury bills (including cash management bills) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes managed by the
AMC. If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost based on purchase price or
last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuationis within a ±0.10% band of the price
derived as per the reference yields provided by the Valuation Agencies (CRISIL and ICRA). In case the amortized value is outside the above band, the YTM of the security is
adjusted to bring the price within the ±0.10% band.
Investments in fixed income securities (other than government securities) are valued as follows:
All debt securities with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes managed by the AMC. If there are no trades
done by schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost based on purchase price or last traded market price,
which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the
reference yields provided by the Valuation Agencies (CRISIL and ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the
price within the ±0.10% band.
36
All debt securities with residual maturity greater than 60 days, are valued using the simple average of the prices released by CRISIL and ICRA, as suggested by AMFI.In case of
new purchases which are not a part of the list of CRISIL and ICRA security level pricing, such securities are valued at weighted average cost/yield on the day of purchase.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two balance sheet
dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.
(d) Revenue recognition

Interest income is recognised on an accrual basis.
Profit or loss on sale/redemption of investments is determined on the basis of the weighted average cost method.
(e) Equalisation account
When units are issued or redeemed, the distributablesurplus (excluding unit premium reserve, but including balance of distributable surplus at the beginning of the year) as on the
date of the transaction is determined. Based on the number of units outstanding on the transaction date, the distributable surplus (excluding unit premium reserve, but including
balance of distributable surplus at the beginning of the year) associated with each unit is computed. The per unit amount so determined is credited / debited to the equalisation
account on issue / redemption of each unit respectively.
The balance in equalisation account is transferred to revenue account at the year-end without affecting the net income of the Scheme.
(f) Loans (borrowings)
In order to meet temporary liquidityneeds for the purpose of redemption of units, the Schemes in accordance with the Regulation44(2) of SEBI (MutualFunds) Regulations, 1996,
have borrowed amount which was within the regulatorylimit of 20% of the previous day's net assets of the schemes and repaid within the regulatory time limit of six months. The
cost of borrowing in line with the policy has been adjusted against the interest income for the year or has been borne by the AMC, wherever applicable.
(g) Load
Exit load (net of GST) collected is recognized as income and credited to the scheme, wherever applicable.
(h) Cash and cash equivalent

Cash and cash equivalents include balances with banks in current accounts, deposits placed with scheduled banks (with an original maturity of up to three months) and
collateralised lending/Tri-Party Repo (including reverse repurchase transactions).
(i) Cash Flow Statements
Cash Flow Statement has been prepared in accordance with accounting standard 3 'Cash Flow Statements' for applicable schemes.
37
3. Unit Capital
AXIS LIQUID FUND AXIS LIQUID FUND AXIS TREASURY ADVANTAGE FUND AXIS TREASURY ADVANTAGE FUND
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Face Value Rs. 1000 each fully paid up Face Value Rs. 1000 each fully paid up Face Value Rs. 1000 each fully paid up Face Value Rs. 1000 each fully paid up
Quantity Amount Quantity Amount Quantity Amount Quantity Amount
(Rs. in 000's) (Rs. in 000's) (Rs. in 000's) (Rs. in 000's)
Initial Capital 5,292,768.000 5,292,768 5,292,768.000 5,292,768 12,442,169.075 12,442,169 12,442,169.075 12,442,169
Outstanding Unit Capital
Retail Growth
Outstanding, beginning of year/period 2,750.706 2,751 3,281.045 3,281 24,359.672 24,359 32,438.033 32,437
Issued
-during the year/period - - - - - - - -
Redeemed during the year/period 954.160 954 530.339 530 16,045.550 16,046 8,078.361 8,078
Outstanding, end of year/period 1,796.546 1,797 2,750.706 2,751 8,314.122 8,313 24,359.672 24,359
Regular Dividend
Outstanding, beginning of year/period
Issued
-during the year/period
Redeemed during the year/period
Outstanding, end of year/period
38
Retail Daily Dividend
Outstanding, beginning of year/period 860.684 861 7,187.060 7,187 29,598.662 29,600 55,193.110 55,194
Issued
Redeemed during the year/period 530.188 530 6,326.376 6,326 14,135.482 14,135 25,594.448 25,594
Outstanding, end of year/period 330.496 331 860.684 861 15,463.180 15,465 29,598.662 29,600

Outstanding, beginning of year/period 111.155 112 111.155 112 1,698.041 1,698 2,646.167 2,646
Issued
Redeemed during the year/period 1.841 2 - - 900.733 901 948.126 948
Outstanding, end of year/period 109.314 110 111.155 112 797.308 797 1,698.041 1,698
Retail Monthly Dividend

Outstanding, beginning of year/period 11.993 13 689.138 690 189.184 189 1,256.529 1,256
Issued
Redeemed during the year/period - - 677.145 677 53.298 53 1,067.345 1,067
Outstanding, end of year/period 11.993 13 11.993 13 135.886 136 189.184 189
Growth
Outstanding, beginning of year/period 17,255,568.554 17,255,569 22,920,743.939 22,920,744 2,934,055.559 2,934,055 2,865,908.532 2,865,908
Issued
-new fund offer
-during the year/period 1,046,661,856.990 1,046,661,857 818,357,542.639 818,357,543 7,676,925.346 7,676,925 6,815,520.332 6,815,520
Redeemed during the year/period 1,032,189,022.171 1,032,189,022 824,022,718.024 824,022,718 8,152,326.126 8,152,326 6,747,373.305 6,747,373
Outstanding, end of year/period 31,728,403.373 31,728,404 17,255,568.554 17,255,569 2,458,654.779 2,458,654 2,934,055.559 2,934,055
3. Unit Capital (Contd.)

Daily Dividend
Issued
-new fund offer
-during the year/period 118,991,894.079 118,991,894 139,358,208.963 139,358,209 2,552,446.335 2,552,446 4,964,624.276 4,964,624
Redeemed during the year/period 114,122,155.325 114,122,155 139,802,181.276 139,802,181 3,328,365.658 3,328,366 5,597,107.487 5,597,107
Outstanding, end of year/period 12,523,149.580 12,523,153 7,653,410.826 7,653,414 953,800.643 953,800 1,729,719.966 1,729,720
Weekly Dividend
Issued
-new fund offer
-during the year/period 6,205,304.523 6,205,305 1,666,872.589 1,666,873 850,433.431 850,433 864,160.301 864,160
Redeemed during the year/period 4,862,604.585 4,862,605 1,442,724.117 1,442,724 1,531,357.537 1,531,358 840,769.489 840,769
Outstanding, end of year/period 1,838,355.272 1,838,357 495,655.334 495,657 226,152.387 226,151 907,076.493 907,076
39
Monthly Dividend
Issued
-new fund offer
Redeemed during the year/period 2,601,438.749 2,601,439 3,845,184.090 3,845,184 103,956.817 103,957 182,373.831 182,374
Quarterly Dividend
Issued
Half year Dividend

Issued
Bonus
Outstanding, beginning of year/period - - - - - - - -
Issued
Redeemed during the year/period - - - - - - - -
Outstanding, end of year/period - - - - - - - -

Direct Growth
Issued
-new fund offer
-during the year/period 3,754,530,880.421 3,754,530,880 4,453,037,214.760 4,453,037,215 10,755,763.331 10,755,763 30,566,547.447 30,566,547
Redeemed during the year/period 3,748,771,916.119 3,748,771,916 4,447,046,236.896 4,447,046,237 15,876,531.489 15,876,531 29,780,863.408 29,780,863

Issued
40
Outstanding, beginning of year/period 8,226,040.424 8,226,039 3,041,148.646 3,041,147 1,187,364.088 1,187,365 884,280.254 884,282
Issued
-new fund offer
Outstanding, end of year/period 9,985,404.037 9,985,402 8,226,040.424 8,226,039 607,467.847 607,469 1,187,364.088 1,187,365

Issued
Redeemed during the year/period 2,183,834.319 2,183,834 1,529,974.278 1,529,974 349,810.916 349,811 119,983.806 119,984

Outstanding, beginning of year/period 848,063.135 848,064 2,109,740.623 2,109,742 3,556.537 3,556 5,198,748.280 5,198,747
Issued
-new fund offer
Redeemed during the year/period 943,694.984 943,695 2,334,647.805 2,334,648 18,408.915 18,409 5,199,486.448 5,199,486

Direct Growth

Issued
Direct Half yearly Dividend

Issued
Direct Bonus
41
Outstanding, beginning of year/period 78.763 79 78.763 79 - - 8.725 9
Issued
Redeemed during the year/period 12.060 12 - - - - 8.725 9
Outstanding, end of year/period 66.703 67 78.763 79 - - - -
Total
Issued
-new fund offer
-during the year/period 5,278,765,863.028 5,278,765,863 5,845,206,856.855 5,845,206,858 24,218,482.550 24,218,482 47,343,415.188 47,343,414
Redeemed during the year/period 5,248,655,347.279 5,248,655,347 5,840,477,424.382 5,840,477,423 32,163,915.650 32,163,916 51,661,789.386 51,661,787

AXIS BANKING & PSU DEBT FUND AXIS BANKING & PSU DEBT FUND AXIS SHORT TERM FUND ** AXIS SHORT TERM FUND **
Initial Capital 1,189,448.984 1,189,448 1,189,448.984 1,189,448 286,435,356.052 2,864,354 286,435,356.052 2,864,354

Retail Growth
Outstanding, beginning of year/period 3,248,842.233 32,488 4,633,529.323 46,335
Issued
-during the year/period - - - -
Redeemed during the year/period 637,193.810 6,372 1,384,687.090 13,847
Outstanding, end of year/period 2,611,648.423 26,116 3,248,842.233 32,488
Regular Dividend
Outstanding, beginning of year/period 234,791,518.599 2,347,916 364,890,432.898 3,648,905
Issued
-during the year/period 1,106,621.922 11,066 3,501,635.247 35,016
Redeemed during the year/period 231,970,983.059 2,319,710 133,600,549.546 1,336,005
Outstanding, end of year/period 3,927,157.462 39,272 234,791,518.599 2,347,916
42
Issued
Outstanding, beginning of year/period 451,345.492 4,513 1,191,377.682 11,913
Issued
Redeemed during the year/period 39,948.103 399 740,032.190 7,400
Outstanding, end of year/period 411,397.389 4,114 451,345.492 4,513
Outstanding, beginning of year/period 524,339.354 5,244 1,221,865.556 12,219
Issued
Redeemed during the year/period 83,680.008 837 697,526.202 6,975
Growth
Outstanding, beginning of year/period 567,538.860 567,538 816,134.343 816,133 401,071,464.720 4,010,715 524,088,814.130 5,240,888
Issued
-new fund offer
Redeemed during the year/period 694,301.119 694,301 1,455,072.235 1,455,072 310,686,613.981 3,106,866 749,233,627.159 7,492,336
Outstanding, end of year/period 7,788,836.576 7,788,836 567,538.860 567,538 360,421,879.565 3,604,219 401,071,464.720 4,010,715
Daily Dividend
Outstanding, beginning of year/period 509,766.221 509,765 1,077,364.489 1,077,364
Issued
-new fund offer
-during the year/period 116,389.726 116,390 116,268.345 116,268
Redeemed during the year/period 77,346.858 77,347 683,866.613 683,867

Weekly Dividend
Outstanding, beginning of year/period 20,033.996 20,033 18,545.266 18,544 20,807,523.421 208,077 53,067,075.543 530,672
Issued
-new fund offer
-during the year/period 9,626.292 9,626 9,200.170 9,200 20,827,204.781 208,272 37,119,770.419 371,198
Redeemed during the year/period 14,596.078 14,596 7,711.440 7,711 35,729,030.737 357,290 69,379,322.541 693,793
Outstanding, end of year/period 15,064.210 15,063 20,033.996 20,033 5,905,697.465 59,059 20,807,523.421 208,077
Monthly Dividend
Issued
-new fund offer
-during the year/period 287,277.122 287,277 253,224.106 253,224 10,620,510.087 106,205 41,649,404.801 416,494
Quarterly Dividend
Issued
43
Half year Dividend
Issued
Bonus
Outstanding, beginning of year/period - - - - 19,868.128 200 21,417.248 215
Issued
Redeemed during the year/period - - - - - - 1,549.120 15
Outstanding, end of year/period - - - - 19,868.128 200 19,868.128 200
Direct Growth
Outstanding, beginning of year/period 3,223,271.693 3,223,269 2,401,660.741 2,401,659 2,296,211,685.875 22,962,118 2,387,760,148.154 23,877,602
Issued
-new fund offer
-during the year/period 18,152,101.532 18,152,102 4,509,407.473 4,509,407 978,682,078.265 9,786,821 3,451,494,052.227 34,514,941
Redeemed during the year/period 3,723,355.362 3,723,355 3,687,796.521 3,687,797 2,199,691,593.918 21,996,916 3,543,042,514.506 35,430,425
Outstanding, end of year/period 17,652,017.863 17,652,016 3,223,271.693 3,223,269 1,075,202,170.222 10,752,023 2,296,211,685.875 22,962,118
Outstanding, beginning of year/period 166,306.342 1,663 87,016.886 870
Issued
-during the year/period 8,242,359.413 82,424 188,631.092 1,886
Redeemed during the year/period 8,260,840.381 82,608 109,341.636 1,093

Outstanding, beginning of year/period 104,922.272 104,921 1,995.877 1,995
Issued
-new fund offer
-during the year/period 866,008.072 866,008 3,621,939.039 3,621,939
Redeemed during the year/period 963,246.055 963,246 3,519,012.644 3,519,013
Outstanding, beginning of year/period 4,965.893 4,966 308.487 308 23,554,208.841 235,542 17,764,539.063 177,646
Issued
-during the year/period 2,729.994 2,730 5,382.851 5,383 294,150,804.437 2,941,508 15,958,726.128 159,587
Redeemed during the year/period 1,271.497 1,271 725.445 725 308,836,071.244 3,088,361 10,169,056.350 101,691
Outstanding, beginning of year/period 498.279 499 2,636.210 2,637 47,472,188.404 474,721 47,275,756.125 472,757
Issued
-new fund offer
44
-during the year/period 3,698.246 3,698 1,712.106 1,712 156,739,629.909 1,567,396 411,114,687.011 4,111,147
Redeemed during the year/period 590.934 591 3,850.037 3,850 203,798,220.714 2,037,982 410,918,254.732 4,109,183
Outstanding, end of year/period 3,605.591 3,606 498.279 499 413,597.599 4,135 47,472,188.404 474,721
Issued
Issued
Direct Bonus
Outstanding, beginning of year/period - - 13.020 13 - - - -
Issued
Redeemed during the year/period - - 13.020 13 - - - -
Outstanding, end of year/period - - - - - - - -
Total
Issued
-new fund offer
-during the year/period 27,353,429.819 27,353,430 9,723,610.842 9,723,610 1,740,406,237.640 17,404,062 4,587,243,184.674 45,872,432
Redeemed during the year/period 5,513,256.944 5,513,256 9,517,610.728 9,517,611 3,340,213,266.809 33,402,132 5,017,341,233.647 50,173,411
AXIS STRATEGIC BOND FUND AXIS STRATEGIC BOND FUND AXIS DYNAMIC BOND FUND AXIS DYNAMIC BOND FUND AXIS OVERNIGHT FUND **
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019
Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 1000 each fully paid up
Quantity Amount Quantity Amount Quantity Amount Quantity Amount Quantity Amount
(Rs. in 000's) (Rs. in 000's) (Rs. in 000's) (Rs. in 000's) (Rs. in 000's)
Initial Capital 39,349,758.027 393,498 39,349,758.027 393,498 17,673,754.853 176,738 17,673,754.853 176,738 8,594,547.228 8,594,547

Retail Growth
Issued
Regular Dividend
Issued
Issued
45
Issued
Issued
Growth
Outstanding, beginning of year/period 540,664,332.896 5,406,643 126,197,488.934 1,261,974 88,169,823.296 881,698 128,834,705.748 1,288,347 - -
Issued
-new fund offer 44,960.128 44,960
-during the year/period 194,248,019.591 1,942,480 489,827,253.248 4,898,273 13,523,326.378 135,233 65,625,328.453 656,253 2,906.981 2,907
Redeemed during the year/period 225,951,692.131 2,259,517 75,360,409.286 753,604 49,714,729.831 497,147 106,290,210.905 1,062,902 45,106.608 45,107
Outstanding, end of year/period 508,960,660.356 5,089,606 540,664,332.896 5,406,643 51,978,419.843 519,784 88,169,823.296 881,698 2,760.501 2,760
Daily Dividend
Issued
-new fund offer 925.310 925
-during the year/period 285.313 285
Redeemed during the year/period 14.992 15
Outstanding, end of year/period 1,195.631 1,195
Weekly Dividend
Issued
Redeemed during the year/period - -
Outstanding, end of year/period 101.983 102
Monthly Dividend
Issued
Quarterly Dividend
Outstanding, beginning of year/period 13,940,334.223 139,403 7,855,854.625 78,558 8,827,895.969 88,278 14,749,898.535 147,498 - -
Issued
-during the year/period 3,547,078.143 35,471 14,755,062.192 147,551 514,724.143 5,147 278,296.043 2,783 - -
Redeemed during the year/period 10,571,287.861 105,713 8,670,582.594 86,706 4,300,861.054 43,009 6,200,298.609 62,003 - -
Outstanding, end of year/period 6,916,124.505 69,161 13,940,334.223 139,403 5,041,759.058 50,416 8,827,895.969 88,278 - -
Half year Dividend
Outstanding, beginning of year/period 1,443,523.598 14,434 761,438.596 7,614 1,581,396.859 15,815 1,750,698.376 17,508 - -
Issued
-during the year/period 194,702.102 1,947 1,307,144.691 13,071 29,105.005 291 46,686.502 467 - -
Redeemed during the year/period 759,003.991 7,590 625,059.689 6,251 344,379.249 3,444 215,988.019 2,160 - -
Outstanding, end of year/period 879,221.709 8,791 1,443,523.598 14,434 1,266,122.615 12,662 1,581,396.859 15,815 - -
Bonus
Outstanding, beginning of year/period - - - - - - - - - -
46
Issued -
-during the year/period - - - - - - - - - -
Redeemed during the year/period - - - - - - - - - -
Outstanding, end of year/period - - - - - - - - - -
Direct Growth
Outstanding, beginning of year/period 247,494,162.056 2,474,943 21,204,311.971 212,044 34,283,139.562 342,832 57,831,386.772 578,314 - -
Issued
-new fund offer 8,548,608.019 8,548,608
-during the year/period 60,485,176.344 604,852 238,609,491.425 2,386,095 1,028,207.124 10,282 36,639,264.569 366,393 4,395,481.000 4,395,481
Redeemed during the year/period 148,562,427.719 1,485,624 12,319,641.340 123,196 23,116,919.568 231,169 60,187,511.779 601,875 10,686,712.581 10,686,713
Outstanding, end of year/period 159,416,910.681 1,594,171 247,494,162.056 2,474,943 12,194,427.118 121,945 34,283,139.562 342,832 2,257,376.438 2,257,376
Issued
Issued
-during the year/period 4,025.269 4,025
Redeemed during the year/period 3,002.312 3,002
Outstanding, end of year/period 1,026.779 1,027
Issued - -
-during the year/period - -
Issued
-new fund offer - -
Redeemed during the year/period 60.000 60
Outstanding, beginning of year/period 498,489.439 4,984 185,115.982 1,851 181,423.792 1,815 192,321.998 1,924 - -
Issued
-during the year/period 305,034.425 3,050 385,342.087 3,853 72,569.632 726 48,057,693.505 480,577 - -
Redeemed during the year/period 368,887.410 3,689 71,968.630 720 59,905.733 599 48,068,591.711 480,686 - -
Outstanding, end of year/period 434,636.454 4,345 498,489.439 4,984 194,087.691 1,942 181,423.792 1,815 - -
Outstanding, beginning of year/period 98,424.844 984 145,389.043 1,454 44,285.978 442 60,806.795 607 - -
Issued
-during the year/period 35,437.892 354 23,944.535 239 15,291.060 153 39,480.005 395 - -
Redeemed during the year/period 46,902.050 469 70,908.734 709 34,200.249 342 56,000.822 560 - -
Outstanding, end of year/period 86,960.686 869 98,424.844 984 25,376.789 253 44,285.978 442 - -
Direct Bonus
Outstanding, beginning of year/period - - - - - - - - - -
Issued
-during the year/period - - - - - - - - - -
Redeemed during the year/period - - - - - - - - - -
Outstanding, end of year/period - - - - - - - - - -
Total
Outstanding, beginning of year/period 804,139,267.056 8,041,391 156,349,599.151 1,563,495 133,087,965.456 1,330,880 203,419,818.224 2,034,198 - -
Issued
47
-new fund offer 8,594,547.228 8,594,547
-during the year/period 258,815,448.497 2,588,154 744,908,238.178 7,449,082 15,183,223.342 151,832 150,686,749.077 1,506,868 4,403,220.563 4,403,220
Redeemed during the year/period 386,260,201.162 3,862,602 97,118,570.273 971,186 77,570,995.684 775,710 221,018,601.845 2,210,186 10,734,896.493 10,734,897
Outstanding, end of year/period 676,694,514.391 6,766,943 804,139,267.056 8,041,391 70,700,193.114 707,002 133,087,965.456 1,330,880 2,262,871.298 2,262,870
** Details of large holdings (over 25% of the Net Assets of the Scheme):
Scheme Name March 31, 2019 March 31, 2018
Holding as % to Net Holding as % to Net
No. of Investors Assets No. of Investors Assets
Axis Short Term Fund 1 30.54% 1 25.14%
Axis Overnight Fund 1 52.13% - -
Rupees in '000
AXIS TREASURY AXIS TREASURY AXIS

AXIS LIQUID AXIS LIQUID AXIS BANKING & AXIS BANKING & AXIS SHORT AXIS SHORT AXIS STRATEGIC AXIS STRATEGIC AXIS DYNAMIC AXIS DYNAMIC
ADVANTAGE ADVANTAGE OVERNIGHT
FUND FUND PSU DEBT FUND PSU DEBT FUND TERM FUND TERM FUND BOND FUND BOND FUND BOND FUND BOND FUND
FUND FUND FUND
4. RESERVES AND SURPLUS
Unit premium reserve

Balance, beginning of year/period (2,446,054) (2,124,481) 62,577 (5,964,929) (107,911) (67,618) 160,636 487,104 509,004 42,224 61,138 102,972 -
Net premium/discount on issue/redemption of units 15,740,222 (4,420,489) (6,013,405) 395,274 15,328,750 275,504 (13,976,211) (2,755,156) (985,005) 4,311,574 (491,901) (505,850) (2,563)
Transferred to equalisation account (26,227,863) 4,098,916 5,977,767 5,632,232 (15,150,806) (315,797) 14,037,951 2,428,688 856,691 (3,844,794) 457,757 464,016 2,563
Balance, end of year (12,933,695) (2,446,054) 26,939 62,577 70,033 (107,911) 222,376 160,636 380,690 509,004 26,994 61,138 -
Unrealised appreciation reserve

Balance, beginning of year/period 133,315 6,553 55,047 57,881 227 - - 180,995 - 23,134 - 28,480 -
Change in unrealised appreciation in value of investments (32,507) 126,762 (7,269) (2,834) 633,462 227 1,530 (180,995) - (23,134) - (28,480) -
Balance, end of year 100,808 133,315 47,778 55,047 633,689 227 1,530 - - - - - -
Retained surplus
Balance, beginning of year/period 65,037,092 56,148,527 10,585,335 14,472,497 2,455,116 1,702,856 26,222,600 24,237,919 5,166,743 799,761 908,786 1,219,805 -
Transferred to revenue account (121,513) (50,401) (30,463) (17,789) (22,830) (31,691) (23,197) (22,635) (4,696) (6,863) (1,814) (8,727) -
Surplus / (Deficit) transferred from revenue account 42,117,847 8,938,966 (4,584,054) (3,869,373) 16,287,007 783,951 (10,617,926) 2,007,316 87,542 4,373,845 (343,490) (302,292) 6,595
Balance, end of year 107,033,426 65,037,092 5,970,818 10,585,335 18,719,293 2,455,116 15,581,477 26,222,600 5,249,589 5,166,743 563,482 908,786 6,595
Total reserves 94,200,539 62,724,353 6,045,535 10,702,959 19,423,015 2,347,432 15,805,383 26,383,236 5,630,279 5,675,747 590,476 969,924 6,595
48
The share of the options in the reserves and surplus is
as follows:
Retail Growth 1,707 2,266 7,930 19,810 26,127 28,085
Regular Dividend 13,883 614,025
Retail Daily Dividend # 1 91 179
Retail Weekly Dividend # - 6 13 76 86
Retail Monthly Dividend # - 1 2 25 28
Growth 33,793,883 15,887,843 2,674,721 2,750,987 5,823,517 342,907 3,687,882 3,552,399 4,168,342 3,756,737 463,247 669,661 8
Daily Dividend 17,530 10,710 6,335 11,752 8,133 4,383 1
Weekly Dividend 7,185 1,885 1,965 8,277 250 212 1,637 5,894 #
Monthly Dividend 4,608 2,312 1,372 1,223 5,996 1,200 2,420 8,024 1
Quarterly Dividend 1,590 4,191 1,627 1,994
Half Yearly Dividend 408 1,024 576 697
Bonus - - 206 178
Direct Growth 60,359,697 46,809,533 3,348,222 7,898,728 13,584,838 1,997,768 12,070,213 22,164,844 1,459,530 1,913,232 124,881 297,390 6,584
Direct Daily Dividend 9,546 7,864 4,687 9,374 114 904 1
Direct Weekly Dividend 4,189 222 188 2,583 107 53 2,456 6,691 -
Direct Monthly Dividend 2,122 1,644 17 31 60 5 24 2,654 #
Direct Quarterly Dividend 335 465 112 131
Direct Half Yearly Dividend 74 98 33 51
Direct Regular Dividend 434 328
Direct Bonus 72 73 - -
94,200,539 62,724,353 6,045,535 10,702,959 19,423,015 2,347,432 15,805,383 26,383,236 5,630,279 5,675,747 590,476 969,924 6,595
Rupees in '000
5. CURRENT LIABILITIES
Amount due to AMC
- Management fees 19,979 8,841 40,118 20,501 7,086 1,134 10,964 12,632 3,555 7,139 806 1,803 88
- Others - - - - - - - - 15 - - - -
Trusteeship fee payable 128 133 6 14 18 4 18 33 6 7 1 1 1
Sundry creditors for units redeemed by investors:
- Lateral shift payable 6,751 4,251 11,438 6,156 122 147 2,701 3,976 19 6,630 129 1,909 294
- Others 2,027 399 34,383 20,123 2,754 1,006 2,165 3,692 455 469 29 4,343 -
Interscheme payable - - - 10,554 53,915 1,100 44,732 50 1,000 - - - -
Contract for purchase of investments 1,385,399 - - - - - 707,037 208,049 99,768 - - 240,583 -
Audit fee payable 14 220 230 220 176 166 284 275 121 110 122 110 6
Registrar service fees payable 2,189 2,265 186 504 326 74 1,136 1,845 331 405 26 82 5
Dividend payable on units 5 2 - # - # - # - 5 - # -
Dividend distribution tax payable 8,546 5,425 726 1,308 210 240 - - - - - - -
Unit application pending allotment 216,545 304,407 27,343 24,116 14,583 345 14,208 1,897 3,865 25,605 228 120 727
Interest Received in Advance - - - - - - - 14,759 - 3,690 - - -
Commission to distributors payable 2,908 689 2,417 823 2,615 2 3,907 898 5,270 4 561 20 -
Custody fees payable 1,344 1,898 68 204 186 60 184 520 60 113 6 23 8
Investor education expense payable 4,704 3,992 238 428 652 126 644 1,002 210 218 22 44 30
Interest payable on loan 21,491 28,447 - 1,259 - - - - - - - - -
Other current liabilities 4,653 4,503 752 642 450 101 1,269 1,074 483 519 88 224 59
1,676,683 365,472 117,905 86,852 83,093 4,505 789,249 250,702 115,158 44,914 2,018 249,262 1,218
Rupees in '000
49
FUND FUND FUND
6. INVESTMENTS
Privately placed / unlisted debentures and bonds 500,388 - 297,789 676,060 772,901 354,618 1,441,241 3,514,134 1,066,024 749,270 - 40,107 -
Listed debentures and bonds 10,190,983 6,773,209 9,049,456 12,966,304 38,314,521 3,790,701 21,591,039 43,393,913 9,160,571 10,562,812 760,655 587,332 -
Certificates of deposit 69,416,632 31,925,926 2,907,117 7,757,404 - 2,309,901 1,884,606 3,950,484 - 470,421 - 252,260 -
Commercial paper 153,706,225 120,657,936 233,795 5,041,965 - 234,718 823,035 - - 48,304 - - -
Government Securities (including treasury bills) 6,612,268 17,808,207 - - 1,186,863 - 2,528,757 4,534,042 1,075,674 195,905 389,482 1,006,177 -
Securitised Debt - - - 284,575 - - 1,214,780 - 626,553 1,124,696 68,598 308,472 -
Bills rediscounting 3,939,208 1,387,344 - - - - - - - - - - -
INVESTMENTS 244,365,704 178,552,622 12,488,157 26,726,308 40,274,285 6,689,938 29,483,458 55,392,573 11,928,822 13,151,408 1,218,735 2,194,348 -
(i) All the investments are held in the name of the Scheme (except for government securities which are held in the name of the fund), as per clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
(ii) Aggregate appreciation and depreciation in the value of investments are as follows: Rupees in '000

FUND FUND FUND
Privately placed / unlisted debentures and bonds
- appreciation 478 - - 1,301 1,857 - 5,782 1,477 924 671 - 107 -
- depreciation - - 1,950 - - 2,125 8,931 36,249 3,347 3,983 - - -
Listed debentures and bonds
- appreciation 8,988 794 49,560 57,295 617,383 7,691 120,334 155,455 43,808 25,081 5,207 6,175 -
- depreciation 239 1,398 8,754 34,683 - 12,113 113,159 301,732 118,299 67,769 16,664 6,018 -
Certificates of deposit
- appreciation 42,677 22,241 8,206 18,499 - 6,053 7,591 10,656 - 1,039 - 663 -
- depreciation 10,482 489 29 142 - - 10 - - - - - -
Commercial paper
50
- appreciation 81,362 107,240 745 12,113 - 721 1,456 - - 164 - - -
- depreciation 28,681 15 - - - - 1,402 - - - - - -
Bills Rediscounting
- appreciation 5,066 - - - - - - - - - - - -
- depreciation - - - - - - - - - - - - -
Securitised Debt
- appreciation - - - 664 - - 1,045 - 660 825 14 102 -
- depreciation - - - - - - 5,943 - 526 2,086 177 463 -
Government Securities (including treasury bills)
- appreciation 1,639 4,942 - - 14,664 - 13,994 8,952 4,049 1,985 2,580 3,647 -
- depreciation # - - - 215 - 19,227 79,868 1,799 1,059 501 9,510 -

(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year and these amounts as a percentage of average daily net assets are as follows:
Rupees in '000

FUND FUND FUND
Purchases (excluding collateralised lending/Tri-Party Repo
and fixed deposits)
- amount 1,988,084,359 1,824,325,096 102,768,710 746,662,166 49,774,110 35,102,488 222,251,846 378,676,079 41,712,430 29,245,594 24,211,500 54,559,087 2,602,314
- as a percentage of average daily net assets 792.26% 829.79% 467.46% 2497.13% 311.44% 477.68% 458.52% 548.57% 307.90% 373.28% 1341.16% 1638.24% 82.45%
Purchases at notional value (interest rate futures and Futures)
- amount - - - - - - 716,725 - - - 190,052 19,026 -
- as a percentage of average daily net assets - - - - - - 1.48% - - - 10.53% 0.57% -
Sales (excluding collateralised lending/Tri-Party Repo and
- amount 1,940,226,606 1,806,111,796 117,834,250 744,670,217 16,847,317 34,244,076 248,102,492 381,812,937 42,953,935 18,288,479 25,203,752 55,568,520 2,422,315
51
Sales/Expiry at notional value (interest rate futures & Futures)
- amount - - - - - - 721,803 - - - 192,650 18,692 -
- as a percentage of average daily net assets - - - - - - 1.49% - - - 10.67% 0.56% -
(iv) The aggregate purchases made by all schemes of the Fund during the current year, previous year and the fair value of such investments as at March 31, 2019 in companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in
Attachment 1.
Rupees in '000

FUND FUND FUND
(v) Aggregate fair value of non traded investments
(excluding government securities and treasury bills)
valued in good faith
237,753,436 160,744,415 11,767,690 26,726,308 28,247,500 6,689,938 21,981,295 50,858,531 9,130,878 12,955,503 802,406 1,188,171 -
Rupees in '000

FUND FUND FUND
(vi) Securities kept as Collateral with Clearing Corporation of
India Limited
6,400,000 17,900,000 - - - - 590,000 440,000 - - - - -
Rupees in '000

FUND FUND FUND
(vii) Securities pledged with Banks
5,750,000 7,900,000 - - - - - - - - - - -
Rupees in '000

FUND FUND FUND
7. DEPOSITS
Fixed deposit with scheduled bank - 9,000,000 - - - - - - - - - - -
- 9,000,000 - - - - - - - - - - -
Rupees in '000
52
FUND FUND FUND
8. OTHER CURRENT ASSETS
Balances with banks in current accounts 287,304 103,980 163,719 62,409 196,108 2,832 75,213 31,520 41,938 74,298 1,475 14,547 3,188
Sundry debtors for units issued to investors:
- Lateral shift receivable 91 2 1,686 2,425 436 225 749 533 43 114 105 2 -
- Others 67 - 4,758 1,599 5,151 3 1,511 343 703 1,001 37 27 -
Interscheme receivable 3,510 170 366 - - - - - - 1,295 10 4 750
Contracts for sale of investments 1,682,863 - 375,456 - - - 460,292 - - - - 187,325 -
Margin deposit with Clearing Corporation of India Limited 7,050 1,050 50 50 - - 51,100 11,100 10,000 10,000 20,000 20,000 -
Outstanding and accrued income 503,116 310,979 264,577 439,315 1,126,793 93,749 756,836 1,823,790 378,139 325,179 45,852 30,109 -
Amount due from AMC 473 11,557 - 630 - 122 - 43 - - 32 69 -
MTM margin receivable - - - - - - - - - - - 68 -
Cash margin money placed for derivatives - - - - - - - - - - - 10,000 -
Collateralised lending, Reverse Repo and Tri-Party Repo 20,009 214,115 254,116 660,095 4,285,743 107,302 475,798 82,431 151,735 198,757 13,250 93,567 2,266,745
Other current assets - - 30 - - - - - 1,000 - - - -
2,504,483 641,853 1,064,758 1,166,523 5,614,231 204,233 1,821,499 1,949,760 583,558 610,644 80,761 355,718 2,270,683
9. INTEREST
Money market instruments 16,283,308 12,953,596 735,720 632,983 19,205 191,778 456,156 446,258 9,951 6,684 3,231 4,314 190
Debentures and bonds 388,366 188,345 944,697 1,143,863 1,157,203 328,434 2,881,797 3,930,358 993,934 566,204 63,463 77,786 -
Fixed deposits 181,440 378,430 - 30,908 - - - - - - - - -
Government securities (including treasury bills) 1,838,969 2,129,146 8,416 31,533 42,509 1,203 278,955 584,190 39,137 8,628 42,328 131,293 -
Collateralised lending / Tri-Party Repo 554,082 119,636 55,885 181,217 44,056 15,875 118,411 124,000 19,505 14,830 18,286 23,550 9,134
Securitised Debt - - 10,567 10,887 - - 98,436 - 98,797 50,889 14,849 12,102 -
Less: Interest on borrowing (726,513) (1,086,976) (315) (632) - - (2,298) - - - - - -
18,519,652 14,682,177 1,754,970 2,030,759 1,262,973 537,290 3,831,457 5,084,806 1,161,324 647,235 142,157 249,045 9,324
10. MANAGEMENT AND TRUSTEESHIP FEE
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in
other schemes and fixed deposits including interest thereon as applicable. During the year ended March 31, 2019, the Schemes have paid management fee at annualised average rate as follows:

FUND FUND FUND
Management fee (excluding Service Tax/GST) at annualised
average rate 0.05% 0.05% 0.29% 0.34% 0.24% 0.21% 0.26% 0.31% 0.56% 0.77% 0.85% 0.97% 0.06%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject
to the ceiling of 0.10% per annum on average net assets of all the schemes.
11. INCOME AND EXPENDITURE
The total income and expenditure and these amounts as a percentage of the scheme’s average daily net assets on an annualised basis are provided below: Rupees in '000

FUND FUND FUND
Income (net off realised loss on sale of investment and
53
excluding net change in marked to market in value of
investments)
- amount 18,493,969 14,667,495 1,684,096 2,182,275 1,232,661 530,145 3,389,076 5,075,858 1,103,595 662,602 143,739 209,592 9,324
Expenditure (excluding realised loss on sale of investment)
- amount 267,062 228,179 97,184 126,789 59,310 21,465 196,975 301,564 125,042 77,023 22,724 40,312 159
12. RELATED PARTY TRANSACTIONS
(i) The Schemes have entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18 on 'Related Party Disclosures' issued by the
Institute of Chartered Accountants of India is provided below.
(a) Related party relationships
Name Description of relationship

Axis Bank Limited Sponsor of the Fund
Axis Mutual Fund Trustee Limited Trustee of the Fund
Axis Asset Management Company Limited The Scheme's asset manager
Axis Capital Limited Group Company and Associate
Axis Trustee Services Limited Group Company
Axis Securities Limited Group Company and Associate
Axis Finance Limited Group Company
Schemes of the Fund, under common control of the Sponsor

Axis Bluechip Fund Axis Corporate Debt Fund
Axis Long Term Equity Fund Axis Dynamic Equity Fund
Axis Regular Saver Fund Axis Equity Advantage Fund - Series 2
Axis Triple Advantage Fund Axis Multicap Fund
Axis Gold ETF Axis Capital Builder Fund - Series 1 (1540 Days)
54
Axis Midcap Fund Axis Fixed Term Plan – Series 92 (154 Days)
Axis Gold Fund Axis Fixed Term Plan - Series 93 (91 Days)
Axis Gilt Fund Axis Fixed Term Plan - Series 94 (177 Days)
Axis Focused 25 Fund Axis Fixed Term Plan - Series 95 (1185 Days)
Axis Arbitrage Fund Axis Equity Hybrid Fund
Axis Credit Risk Fund Axis Fixed Term Plan - Series 96 (1124 Days)
Axis Equity Saver Fund Axis Ultra Short Term Fund
Axis Children's Gift Fund Axis Fixed Term Plan - Series 97 (1116 Days)
Axis Small Cap Fund Axis Growth Opportunities Fund
Axis Hybrid Fund - Series 27 (1351 Days) Axis Capital Builder Fund - Series 4 (1582 Days)
Axis Hybrid Fund - Series 28 (1331 Days) Axis Fixed Term Plan - Series 100 (1172 Days)
Axis Hybrid Fund - Series 33 (1358 Days) Axis Fixed Term Plan - Series 49
Axis Emerging Opportunities Fund - Series 1 (1400 Days) Axis Hybrid Fund - Series 18 (42 Months)
Axis Hybrid Fund - Series 5 (1346 Days) Axis Hybrid Fund - Series 22 (1278 Days)
Axis Fixed Term Plan - Series 64 Axis Hybrid Fund - Series 25 (1278 Days)
Axis Capital Protection Oriented Fund - Series 5 Axis Hybrid Fund - Series 26 (1276 Days)
Axis Equity Advantage Fund - Series 1 Axis Nifty ETF
(b) Interscheme transactions covered by Accounting Standard-18 are provided in Attachment 2.

(c) Transactions other than interscheme transactions covered by Accounting Standard-18:
Rupees in '000
AXIS LIQUID FUND AXIS TREASURY ADVANTAGE FUND AXIS BANKING & PSU DEBT FUND
Year ended Year ended Balance as at Balance as at Year ended Year ended Balance as at Balance as at Year ended Year ended Balance as at Balance as at
Name of related party Nature of transactions March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Axis Mutual Fund Trustee Limited Fees for trusteeship services 1,670 1,512 140 146 147 203 7 16 105 51 19 5
Fees for investment management services (including
Axis Asset Management Company Limited Service Tax/GST) 155,475 124,904 19,979 8,848 75,887 108,262 40,118 20,518 45,628 17,919 7,086 1,135
Axis Asset Management Company Limited Payable for other expenses - - - - - -
Axis Asset Management Company Limited Receivable for other expenses - - 473 11,557 - - - 630 - - - 122
Axis Bank Limited Purchase of securities 13,562,072 11,769,401 - - 518,149 149,723 - - 979,693 501,654 - -
Axis Bank Limited Sale of securities 13,470,848 4,998,220 - - 250,227 - - - - - - -
Axis Mutual Fund Trustee Limited Subscription of units at NAV 5,615 2,540 4,811 3,990 - - 194 180 - - - -
Axis Mutual Fund Trustee Limited Redemption of units at NAV 5,083 2,045 - - - - - - - - - -
Axis Bank Limited Subscription of units at NAV - - - - - 13,975 - - - - - -
Axis Bank Limited Redemption of units at NAV - - - - - 18,864 - - - - - -
Axis Asset Management Company Limited Subscription of units at NAV 2,674,500 5,251,300 1,369,221 1,767,618 - - 6,799 6,279 - - 6,855 6,273
Axis Asset Management Company Limited Redemption of units at NAV 3,153,500 4,998,000 - - - - - - - - - -
Axis Capital Limited Subscription of units at NAV 6,643,700 6,445,200 - 503,604 - - # # - 413,000 - 426,145
Axis Capital Limited Redemption of units at NAV 7,189,392 5,957,224 - - - - - - 426,795 233,094 - -
Axis Trustee Services Limited Subscription of units at NAV 50,000 76,000 20,874 89,799 - - - - - - - -
Axis Trustee Services Limited Redemption of units at NAV 120,414 14,500 - - - - - - - - - -
Axis Finance Limited Subscription of units at NAV 102,094,000 341,947,900 - - - - - - - - - -
Axis Finance Limited Redemption of units at NAV 102,124,493 343,851,142 - - - - - - - - - -
Axis Liquid Fund Purchase of securities - - - - 17,400,000 629,620,000 - - - - - -
Axis Liquid Fund Sale of securities - - - - 17,404,556 633,782,306 - - - - - -
Axis Treasury Advantage Fund Subscription of units at NAV 17,400,000 629,620,000 - - - - - - - - - -
Axis Treasury Advantage Fund Redemption of units at NAV 17,404,556 633,782,306 - - - - - - - - - -
Axis Short Term Fund Subscription of units at NAV 9,250,000 131,200,000 - - - - - - - - - -
55
Axis Short Term Fund Redemption of units at NAV 9,252,680 131,232,159 - - - - - - - - - -
Axis Securities Limited Subscription of units at NAV - - - - - # # # - - - -
Axis Securities Limited Redemption of units at NAV - - - - - # - # - - - -
Axis Bluechip Fund Subscription of units at NAV 1,000,000 - - - - -
Axis Bluechip Fund Redemption of units at NAV 1,000,214 - - - - -
Axis Hybrid Fund Series 19 Subscription of units at NAV 750,000 - - - - -
Axis Hybrid Fund Series 19 Redemption of units at NAV 750,160 - - - - -
Axis Multicap Fund Subscription of units at NAV 1,000,000 - - - - -
Axis Multicap Fund Redemption of units at NAV 1,000,214 - - - - -
Rupees in '000
AXIS SHORT TERM FUND AXIS STRATEGIC BOND FUND AXIS DYNAMIC BOND FUND
Axis Mutual Fund Trustee Limited Fees for trusteeship services 325 472 19 37 91 56 6 8 12 23 1 2
Axis Asset Management Company Limited Service Tax/GST) 147,159 250,312 10,964 12,643 89,766 70,878 3,555 7,145 18,083 37,649 806 1,805
Axis Asset Management Company Limited Payable for other expenses - - - - - - 15 - - - - -
Axis Asset Management Company Limited Receivable for other expenses - - - 43 - - - - - - 32 69
Axis Bank Limited Purchase of securities 6,546,531 8,358,622 - - 1,614,680 992,569 - - 674,679 - - -
Axis Bank Limited Sale of securities 300,239 1,159,138 - - - - - - 105,709 - -
Axis Bank Limited Subscription of units at NAV - 10 - 687 8 - 9 - - - - -
Axis Bank Limited Redemption of units at NAV 714 10 - - - - - - - - - -
Axis Finance Limited Purchase of securities - - - - - - - - - - - -
Axis Asset Management Company Limited Subscription of units at NAV - - 6,854 6,345 - - 7,038 6,513 - - 6,884 6,350
Axis Asset Management Company Limited Redemption of units at NAV - - - - - -
Axis Capital Limited Subscription of units at NAV - 100,000 - 103,804 - - - - - - - -
Axis Capital Limited Redemption of units at NAV 104,557 599,584 - - - - - - - - - -
Axis Liquid Fund Purchase of securities 9,250,000 131,200,000 - - - - - - - - -
Axis Liquid Fund Sale of securities 9,252,680 131,232,159 - - - - - - - - -
Rupees in '000
AXIS OVERNIGHT FUND
Period ended Balance as at
Name of related party Nature of transactions March 31, 2019 March 31, 2019
Axis Mutual Fund Trustee Limited Fees for trusteeship services 2 2
Axis Asset Management Company Limited Fees for investment management services (including 96 88
Axis Asset Management Company Limited Payable for other expenses - -
Axis Asset Management Company Limited Receivable for other expenses - -
Axis Bank Limited Purchase of securities - -
Axis Bank Limited Sale of securities - -
Axis Asset Management Company Limited Subscription of units at NAV 5,000 5,015
Axis Asset Management Company Limited Redemption of units at NAV - -
Axis Finance Limited Subscription of units at NAV 250,000 -
Axis Finance Limited Redemption of units at NAV 250,169 -
Axis Capital Limited Subscription of units at NAV 3,883,000 1,183,000
Axis Capital Limited Redemption of units at NAV 2,702,311 -
(ii) Transactions covered by Regulation 25(8) of the SEBI Regulation with the sponsor, associates, employees or their relatives of AMC:
Rupees in '000
Name of sponsor, associates, employees or
their relatives of AMC (Nature of relation) AXIS BANKING AXIS AXIS AXIS
AXIS TREASURY AXIS TREASURY AXIS BANKING & AXIS SHORT AXIS SHORT AXIS DYNAMIC AXIS DYNAMIC
AXIS LIQUID FUND AXIS LIQUID FUND & PSU DEBT STRATEGIC STRATEGIC OVERNIGHT
ADVANTAGE FUND ADVANTAGE FUND PSU DEBT FUND TERM FUND TERM FUND BOND FUND BOND FUND
FUND BOND FUND BOND FUND FUND
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended
Axis Bank Limited (Sponsor)
Bank charges 1,184 1,121 66 145 46 29 199 297 70 71 33 51 7
Professional clearing member charges - - - - - - - - - - - # -
56
Commission paid on distribution of units * 1,912 - 1,287 - 481 - 2,479 # 1,582 - 578 # #
Mr.Sugriv Singh rathore (Relative of AMC
Employee)
Commission paid on distribution of units - - - 2 15 15 -
Urvi Mahendra Dedhia (Relative of AMC
Employee)
Commission paid on distribution of units - # - - - - -
Axis Securities Limited (Associate)
Commission paid on distribution of units 24 - 5 - 17 - 19 - 11 - 4 - #
* Includes transaction charges - - - - - -
Associate companies have been paid commission on normal commercial terms at a basis of an arm's length for procuring unit subscriptions for the Schemes.
(iii) Subscription by the schemes in the issues lead managed by associate companies/ Subscription to any issue of equity or debt on private placement basis where the sponsor or
associate companies have acted as arranger or lead manager.
F.Y. 2018-2019 Rupees in '000

Arranger Scheme Name Date Security Type Name of the security Face Value
LIC Hsg Fin Ltd ZCB Tran
Axis Banking & PSU Debt Fund 22-Feb-19 Zero Coupon Bond 378 (MD 04/05/2022) 500,000
8% Natio Ho Bk Ltd (MD
Axis Banking & PSU Debt Fund 22-Feb-19 Corporate Bond 22/02/2022)P/C22/05/2020 50,000
Axis Bank Limited
8.3% Reliance Industries Ltd
Axis Treasury Advantage Fund 8-Mar-19 Corporate Bond NCDSr J (MD08/03/22) 500,000
8.3% Reliance Industries Ltd
Axis Short Term Fund 8-Mar-19 Corporate Bond NCDSr J (MD08/03/22) 1,000,000
Rainbow Devices Trust PTC
Axis Short Term Fund 10-May-18 Pass Through Certificate S8 (MD 28/03/2020) 81,000
Axis Trustee Service Limited
57
Axis Treasury Advantage Fund 10-May-18 Pass Through Certificate S1 (MD 28/06/2018) 91,000
Rent-A-Device Trust PTC
Axis Short Term Fund 24-Jul-18 Pass Through Certificate S1 (MD 28/09/2018) 142,000
Axis Strategic Bond Fund 24-Jul-18 Pass Through Certificate S8 (MD 28/06/2020) 121,000
F.Y. 2017-2018 Rupees in '000

Arranger Scheme Name Date Issuer Name of the security Face Value
6.98% LIC Hsg Fin Ltd NCD
Axis Short Term Fund 20-Jun-17 Corporate Bond (MD 27/06/2018) 1,000,000
7.39% LIC Hsg Fin Ltd Ser
Axis Short Term Fund 30-Aug-17 Corporate Bond 348 Opt 1 NCD (30/08/22) 250,000
7.4% HDFC Ltd NCD Ser S-
Axis Short Term Fund 17-Oct-17 Corporate Bond 004 (17/11/2020) 250,000
7.4% HDFC Ltd NCD Ser S-
Axis Short Term Fund 17-Oct-17 Corporate Bond 004 (17/11/2020) 250,000
7.08% SIDBI NCD
Axis Bank Limited
Axis Banking & Psu Debt Fund 21-Nov-17 Corporate Bond (21/12/2020) 250,000
10% Allahbad Bank Perp
Basel 3 AT1 (Call
Axis Dynamic Bond Fund 29-Dec-17 Corporate Bond 29/12/2022) 150,000
10% Allahbad Bank Perp
Basel 3 AT1 (Call
Axis Strategic Bond Fund 29-Dec-17 Corporate Bond 29/12/2022) 100,000
7.72% IRFC NCD Series
Axis Treasury Advantage Fund 7-Mar-18 Corporate Bond 128 (07/06/2019) 500,000
10.25%Suhani Tra & Inv Co
P Ltd (29/01/2021) (Put/Call
Axis Dynamic Bond Fund 29-Jan-18 Corporate Bond 29/01/2020) 40,000
Axis Finance Limited
P Ltd (29/01/2021) (Put/Call
Axis Strategic Bond Fund 29-Jan-18 Corporate Bond 29/01/2020) 250,000
13. Investments made during the year in the sponsor company and its group companies at cost
Rupees in '000
58
Name of sponsor company and its group
companies AXIS BANKING AXIS AXIS AXIS
AXIS TREASURY AXIS TREASURY AXIS BANKING & AXIS SHORT AXIS SHORT AXIS DYNAMIC AXIS DYNAMIC
AXIS LIQUID FUND AXIS LIQUID FUND & PSU DEBT STRATEGIC STRATEGIC OVERNIGHT
ADVANTAGE FUND ADVANTAGE FUND PSU DEBT FUND TERM FUND TERM FUND BOND FUND BOND FUND
FUND BOND FUND BOND FUND FUND
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended
Axis Bank Limited *
Investment made by the Scheme - - - - - - - - - - - - -
Investment made by other schemes 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656
Total investments 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656
*Amount represents investment in fixed deposits, equities and derivatives (futures are disclosed at notional value).
14. DERIVATIVES DISCLOSURE

Disclosure for derivative transactions as required by SEBI circular Cir/IMD/DF/11/2010 dated August 18, 2010, has been made in Attachment 3.
15. NET ASSET VALUE

Rupees
AXIS TREASURY ADVANTAGE AXIS TREASURY AXIS BANKING & PSU AXIS BANKING & PSU
AXIS LIQUID FUND AXIS LIQUID FUND
Options FUND ADVANTAGE FUND DEBT FUND DEBT FUND
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Face Value Rs. 1,000 Face Value Rs. 1,000 Face Value Rs. 1,000 Face Value Rs. 1,000 Face Value Rs. 1000 Face Value Rs. 1000
RG Retail Growth 1,949.9125 1,823.6153 1,953.8283 1,813.2376 - -
RD Retail Daily Dividend 1,000.9559 1,000.9559 1,005.8846 1,006.0361 - -
RW Retail Weekly Dividend 1,002.3582 1,002.1559 1,007.2872 1,007.7212 - -
RM Retail Monthly Dividend 1,002.0170 1,001.8511 1,008.1340 1,008.5675 - -
IG Growth 2,065.0989 1,920.7373 2,087.8789 1,937.6055 1,747.6744 1,604.1961
ID Daily Dividend 1,001.3998 1,001.3998 1,006.6420 1,006.7940 1,014.8190 1,008.5942
IW Weekly Dividend 1,003.9084 1,003.8026 1,008.6891 1,009.1252 1,016.5659 1,010.5866
IM Monthly Dividend 1,002.6891 1,002.3652 1,008.1377 1,008.5712 1,016.6565 1,010.7661
ZG Direct Growth 2,073.5234 1,927.5309 2,145.7201 1,982.0451 1,769.5911 1,619.7946
ZD Direct Daily Dividend 1,000.9560 1,000.9560 1,007.7149 1,007.8944 1,014.8333 1,008.6187
ZW Direct Weekly Dividend 1,003.9167 1,003.8103 1,007.3345 1,007.7936 1,016.6108 1,010.6268
ZM Direct Monthly Dividend 1,002.1029 1,001.9382 1,008.1860 1,008.6467 1,016.7173 1,010.8068
ZB Direct Bonus 2,073.4154 1,927.4087 - - - -
59
Rupees
AXIS STRATEGIC BOND AXIS DYNAMIC BOND AXIS DYNAMIC BOND
AXIS SHORT TERM FUND AXIS SHORT TERM FUND AXIS STRATEGIC BOND FUND AXIS OVERNIGHT FUND
Options FUND FUND FUND
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 1000
Growth 20.2321 18.8573 18.1899 16.9484 18.9123 17.5951 1,002.8937
Daily Dividend - - - - - - 1,000.4995
Quarterly Dividend - - 10.2300 10.3007 10.3228 10.2259 -
Half Yearly Dividend - - 10.4640 10.7093 10.4548 10.4406 -
Retail Growth 20.0039 18.6446 - - - - -
Regular Dividend 13.5352 12.6152 - - - - -
Retail Weekly Dividend 10.1853 10.1913 - - - - -
Retail Monthly Dividend 10.0559 10.0535 - - - - -
Weekly Dividend 10.2772 10.2833 - - - - 1,001.7203
Monthly Dividend 10.1911 10.1887 - - - - 1,002.8956
Bonus 20.3479 18.9653 - - - -
Direct Growth 21.2260 19.6528 19.1554 17.7304 20.2408 18.6746 1,002.9164
Direct Regular Dividend 12.9341 11.9728 - - - - -
Direct Daily Dividend 1,000.5059
Direct Weekly Dividend 10.2769 10.2841 - - - - -
Direct Monthly Dividend 10.0581 10.0559 - - - - 1,002.9230
Direct Quarterly Dividend - - 10.7701 10.9323 10.5779 10.7232 -
Direct Half Yearly Dividend - - 10.8530 11.0005 11.3189 11.1432 -
The net asset value of the Scheme’s units are determined separately for units issued under the options after including the respective unit capital and reserves and surplus.
The net asset value disclosed above represents the computed NAV as on balance sheet date, and not the last declared NAV.
The historical per unit (HPU) data is disclosed in attachment 4.
16. Loans (Borrowings)

Borrowings outstanding as on March 31, 2019:
Name of the Scheme Date of Borrowing Source * Amount borrowed (Rs. In '000) Rate of Borrowing
28-Mar-19 Scheduled Commercial Bank 5,000,000 8.30%
Axis Liquid Fund Clearing Corporation of India
29-Mar-19 29,897,409 6.90%
Limited
Axis Treasury Advantage Fund NIL
* Borrowing under TREPS segment is against margin placed in the form of Government Securities and from Scheduled Commercial Bank is against fully pledged certificate of deposit.
Clearing Corporation of India
Limited 32,119,610 6.32%
Axis Liquid Fund
2,000,000 7.85%
28-Mar-18
Scheduled Commercial Bank 5,000,000 8.15%
Clearing Corporation of India
Axis Treasury Advantage Fund
Limited 1,768,111 6.50%
* Borrowing under CBLO segment is against margin placed in the form of Government Securities and from Scheduled Commercial Bank is against fully pledged certificate of deposits.
60
17. CONTINGENT LIABILITY
Contingent liabilities as on March 31, 2019: NIL (previous year - NIL).
18. SEGMENT REPORTING
The schemes operates in one segment only viz. to primarily generate attractive returns based on investment objectives of the Scheme.
19. CREDIT DEFAULT SWAPS

There were no transactions in credit default swaps during the year ended March 31, 2019. (previous year - NIL).
20. SURPLUS AVAILABLE FOR DISTRIBUTION

Rupees in '000
AXIS TREASURY ADVANTAGE AXIS TREASURY AXIS BANKING & PSU AXIS BANKING & PSU
AXIS LIQUID FUND AXIS LIQUID FUND
FUND ADVANTAGE FUND DEBT FUND DEBT FUND
Particulars
Total Reserves
94,200,539 62,724,353 6,045,535 10,702,959 19,423,015 2,347,432
Less : Unrealised appreciation on investments
as on Balance sheet date at portfolio level
100,808 133,315 47,778 55,047 633,689 227
Less : Credit balance in unit premium reserve at
plan level
Net premium/discount on issue/redemption of units 126,341 51,545 35,627 89,859 186,718 -
Distributable Surplus
93,973,390 62,539,493 5,962,130 10,558,053 18,602,608 2,347,205
Rupees in '000
AXIS SHORT TERM AXIS STRATEGIC AXIS DYNAMIC BOND AXIS DYNAMIC BOND
AXIS SHORT TERM FUND AXIS STRATEGIC BOND FUND AXIS OVERNIGHT FUND
Particulars FUND BOND FUND FUND FUND
Total Reserves
15,805,383 26,383,236 5,630,279 5,675,747 590,476 969,924 6,595
1,530 - - - - - -
plan level
647,857 1,341,391 380,690 509,003 29,111 63,115 -
15,155,996 25,041,845 5,249,589 5,166,744 561,365 906,809 6,595
21. INVESTOR AWARENESS PROGRAM

In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the
amount so set aside towards IEAI has been transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing
Obligation) / Treps (Tri-Party Repo).
The details are as follows:
Rupees in '000
Particulars F.Y. 2018-19 F.Y. 2017-18
61
Opening balance 81,231 31,950
Additions during the year* 175,535 145,896
Less : Utilisation during the year 82,853 26,669
Less : Amount transferred to AMFI 83,222 69,945

Closing balance 90,691 81,231
* Amount includes interest on CBLO/Treps investments.
22. UNCLAIMED DIVIDEND AND REDEMPTION
Rupees in '000
As at March 31, 2019 As at March 31, 2018
Unclaimed Dividend Unclaimed Redemption Unclaimed Dividend Unclaimed Redemption
No. of Investors Amount No. of Investors Amount No. of Investors Amount No. of Investors Amount
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
Unclaimed dividend and redemption gets transferred from schemes to separate pool account and is maintained separately. This disclosure has been carried out in the financial statements for all the schemes at pool level.
23. PRIOR PERIOD COMPARATIVES

As these are the first financial statements of Axis Overnight Fund since the date of launch, there are no prior period comparatives.
Prior year figures have been reclassified and regrouped, wherever applicable, to conform to current year's presentation.


62
To the Trustees of
Axis Mutual Fund – Axis Corporate Debt Fund
Opinion
We have audited the accompanying financial statements of Axis Corporate Debt Fund (“the Scheme”),
Basis for Opinion
to fraud or error.
process.
63
safeguards.
64

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
65
To the Trustees of
Axis Mutual Fund – Axis Credit Risk Fund
Opinion
We have audited the accompanying financial statements of Axis Credit Risk Fund (“the Scheme”),
Basis for Opinion
to fraud or error.
process.
66
safeguards.
67

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
68
To the Trustees of
Axis Mutual Fund – Axis Gilt Fund
Opinion
We have audited the accompanying financial statements of Axis Gilt Fund (“the Scheme”), which
comprise the Balance sheet as at March 31, 2019 and the Revenue Account for the year then ended, and
notes to the financial statements, including a summary of significant accounting policies and other
and
Basis for Opinion
process.
69
safeguards.
70

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
71
To the Trustees of
Axis Mutual Fund – Axis Gold Fund
Opinion
We have audited the accompanying financial statements of Axis Gold Fund (“the Scheme”), which
and
Basis for Opinion
process.
72
safeguards.
73

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
74
To the Trustees of
Axis Mutual Fund – Axis Regular Saver Fund
Opinion
We have audited the accompanying financial statements of Axis Regular Saver Fund (“the Scheme”),
Basis for Opinion
to fraud or error.
process.
75
safeguards.
76

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
77
To the Trustees of
Axis Mutual Fund – Axis Ultra Short Term Fund
Opinion
We have audited the accompanying financial statements of Axis Ultra Short Term Fund (“the Scheme”),
which comprise the Balance sheet as at March 31, 2019 and the Revenue Account for the period then
and
Basis for Opinion
process.
78
safeguards.
79

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
80
Balance Sheet
AXIS REGULAR SAVER AXIS REGULAR SAVER AXIS CREDIT RISK AXIS CREDIT RISK AXIS CORPORATE AXIS CORPORATE AXIS ULTRA SHORT
FUND FUND AXIS GILT FUND AXIS GILT FUND AXIS GOLD FUND AXIS GOLD FUND FUND FUND DEBT FUND DEBT FUND TERM FUND
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 1,462,851 2,256,986 222,715 288,091 460,321 530,854 11,340,865 13,644,087 2,121,845 2,429,774 11,063,668
Reserves and surplus 2(b) & 4 1,258,898 1,729,309 136,858 148,835 (1,376) (18,784) 5,106,096 4,853,706 288,408 103,579 489,933
Loans 15 - - - - - - - - - 149,840 -
Current liabilities 5 7,706 14,746 356 5,824 1,797 2,888 83,741 147,271 9,816 9,662 122,517
2,729,455 4,001,041 359,929 442,750 460,742 514,958 16,530,702 18,645,064 2,420,069 2,692,855 11,676,118
Investments 2(c), 6 & 23 2,605,506 3,696,380 352,147 415,529 455,731 508,820 16,062,860 17,993,832 2,305,601 2,610,995 10,589,445
Other current assets 7 123,949 304,661 7,782 27,221 5,011 6,138 467,842 651,232 114,468 81,860 1,086,673
2,729,455 4,001,041 359,929 442,750 460,742 514,958 16,530,702 18,645,064 2,420,069 2,692,855 11,676,118

81

Head-Fixed Income Fund Manager-Fixed Income & Gold Fund Fund Manager-Fixed Income
Place: Mumbai Jinesh Gopani Ashish Naik

Date: May 28, 2019 Head-Equity Fund Manager-Equity
Revenue Account
AXIS REGULAR AXIS REGULAR AXIS CREDIT RISK AXIS CREDIT RISK AXIS CORPORATE AXIS CORPORATE AXIS ULTRA SHORT
SAVER FUND SAVER FUND AXIS GILT FUND AXIS GILT FUND AXIS GOLD FUND AXIS GOLD FUND FUND FUND DEBT FUND DEBT FUND TERM FUND
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 July 13, 2017 September 10, 2018
to to to to to to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 5,508 10,263 - - - - - - - - -

Interest 2(d) & 8 201,152 305,179 28,035 38,440 335 280 1,504,510 1,568,088 231,407 185,659 318,763
Profit on sale/redemption of investments (including F&O), net 2(d) 140,835 307,050 - - - - - - 18,102 - 5,463
Profit on inter-scheme transfer/sale of investments, net 2(d) - - 4 - - - - 21,083 - - -
Load income 1,216 8,241 - - 231 398 37,987 53,791 433 - -
Other Income - 1 - - - # 3,641 # 3 289 -
Net change in marked to market in value of investments 2(c) & 6(ii) (94,930) (43,768) 965 12,807 20,046 24,654 (36,074) (123,639) 19,328 (8,671) 27,079
Total 253,781 586,966 29,004 51,247 20,612 25,332 1,510,064 1,519,323 269,273 177,277 351,305
EXPENSES AND LOSSES
Loss on sale/redemption of investments (including F&O), net 2(d) - - 3,571 28,883 1,826 9,993 65,555 18,289 - 1,213 -
Loss on inter-scheme transfer/sale of investments, net 2(d) 1,966 2,309 - 1,425 - - 78,224 - 6,350 1,184 1,163
Management fee 9 54,607 111,993 984 2,035 - - 196,445 229,623 13,064 12,234 10,897
Service Tax / GST on Management Fees 9,830 19,144 178 348 - - 35,360 39,726 2,352 2,202 1,962
Trusteeship fee 9 22 37 3 4 3 4 115 129 19 17 26
Investor education expense 644 1,082 80 106 98 111 3,430 3,764 574 454 764
Custodian service charges 142 567 18 62 22 65 729 1,927 109 234 186
Registrar service charges 1,407 2,438 206 356 351 552 6,848 7,590 1,192 938 1,528
Commission to distributors 10,474 12,848 354 - 2,193 2,806 22,168 17,273 4,617 - 14,387
82
Audit fee 254 246 33 119 122 119 138 135 134 118 252
Marketing expenses 1 - - - - - 523 - 1 - 116
Listing fee 51 4 15 # 53 3 56 2 59 5 44
Other operating expenses 693 788 60 53 474 389 664 680 252 99 164
Less: Expenses reimbursed/to be reimbursed by AMC - (258) - (294) - - - (263) - - -
Total 80,091 151,198 5,502 33,097 5,142 14,042 410,255 318,875 28,723 18,698 31,489
Surplus / (Deficit) for the year/period 173,690 435,768 23,502 18,150 15,470 11,290 1,099,809 1,200,448 240,550 158,579 319,816
Transfer from / (to) unrealised appreciation reserve 94,930 43,768 (965) (943) - - - 46,613 (10,657) - (27,079)
Equalisation (debit) / credit 2(e) (564,230) (1,036,489) (33,960) (134,170) 5,119 16,351 (782,657) 156,649 (31,921) (41,969) 198,824
Transfer from retained surplus 8,673 20,575 172 161 - - 4,162 1,357 1,284 -
Dividend distribution (9,013) (22,102) (137) (117) - - (24,632) (45,464) (16,533) (9,467) (27,465)
Dividend distribution tax on dividend distribution (3,547) (8,583) (53) (44) - - (10,113) (18,092) (7,644) (4,409) (11,896)
Surplus / (Deficit) transferred to the retained surplus 4 (299,497) (567,063) (11,441) (116,963) 20,589 27,641 286,569 1,341,511 175,079 102,734 452,200



Cash Flow Statement

AXIS REGULAR AXIS REGULAR SAVER AXIS CREDIT RISK AXIS CORPORATE DEBT AXIS CORPORATE DEBT
Particulars SAVER FUND FUND FUND AXIS CREDIT RISK FUND FUND FUND
April 01, 2018 to April 01, 2017 to April 01, 2018 to April 01, 2017 to April 01, 2018 to April 01, 2017 to
Net Surplus /(Deficit) for the year 173,690 435,768 1,099,809 1,200,448 240,550 158,579
Adjustments for:-
Net change in marked to market in value of investments 94,930 43,768 36,074 123,639 (19,328) 8,671
(Increase)/Decrease in investments at cost 1,031,227 2,682,178 1,798,263 (1,229,643) 324,722 (2,619,665)
(Increase)/Decrease in other current assets 1,358 68,880 105,712 (69,725) (1,305) (64,251)
Increase/(Decrease) in current liabilities (6,908) 3,159 42,108 18,818 579 1,630
Interest expense on borrowing - - - - - 54
Net cash used in operations (A) 1,294,297 3,233,753 3,081,966 43,537 545,218 (2,514,982)
Increase/(Decrease) in unit capital (793,785) (1,860,939) (2,302,574) (160,287) (307,129) 2,434,799
Increase/(Decrease) in unit premium reserve (631,541) (1,322,869) (812,674) 156,701 (31,544) (41,124)
Proceeds from borrowing - - - - - 149,840
Repayment of borrowing - - - - (149,840) -
Interest paid on borrowing - - - - - 53
Adjustments for:-
Increase/(Decrease) in redemption payable for units (436) (1,826) (9,650) 11,543 (1,136) 2,761
83
Increase/(Decrease) in dividend payable for units (45) (10,307) (1) (3,440) - -
(Increase)/Decrease in subscription receivable for units
342 115 (793) 401 (1,254) (660)
issued to investors
Dividend paid (including tax thereon) (12,560) (30,685) (34,745) (63,557) (24,266) (13,738)
Net cash generated from financing activities (B) (1,438,025) (3,226,511) (3,160,437) (58,639) (515,169) 2,531,931
Net Increase/(Decrease) in cash and cash equivalents (A+B) (143,728) 7,242 (78,471) (15,102) 30,049 16,949
Cash and Cash Equivalents as at the beginning of the year 180,637 173,395 112,226 127,328 16,949 -
Cash and Cash Equivalents as at the close of the year 36,909 180,637 33,755 112,226 46,998 16,949
Component of cash and cash equivalents March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Balances with banks in current accounts 2,963 3,411 20,051 33,856 34,097 14,934
Collateralised lending, Reverse Repo and Tri-Party Repo 33,946 177,226 13,704 78,370 12,901 2,015
Total 36,909 180,637 33,755 112,226 46,998 16,949


1. BACKGROUND
In accordance with the Securities and Exchange Board of India('SEBI') (MutualFunds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of
Axis Mutual Fund Trustee Limited ('the Trustee') has appointed Axis Asset Management Company Limited ('the AMC') to manage the Fund's affairs and
operate its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset ManagementCompany Limited and the
balance 25% plus one equity share is held by Schroders Investment Management (Singapore) Limited (SIMSL) through its wholly owned subsidiary,
Schroders Singapore Holdings Private Limited (SSHPL), both subsidiaries of Schroders plc.
NFO Close
Axis Regular Saver An open ended hybrid The Scheme seeks to generate regular income May 24, 2010 Growth
Fund scheme investing through investments in debt & money market to Quarterly Dividend
{formerly known as predominantly in debt instruments, along with capital appreciation through June 21, 2010 Half Yearly Dividend
"Axis Income Saver"}# instruments. limited exposure to equity and equity related Annual Dividend
instruments Direct Growth
Direct Annual Dividend
Axis Gilt Fund An open ended debt The Scheme will aim to generate credit risk-free January 10, 2012 Growth
{formerly known as scheme investing in returns through investments in sovereign securities to Regular Dividend
"Axis Constant Maturity government securities issued by the January 19, 2012 Half Yearly Dividend
10 Year Fund"}# across maturity Central Government and/or State Government. Bonus
Direct Growth
Direct Bonus
Axis Gold Fund An open ended fund of To generate returns that closely correspond to September 30, 2011 Growth
fund scheme investing returns generated by Axis Gold ETF. to Dividend
in Axis Gold October 14, 2011 Direct Growth
ETF. Direct Dividend
Axis Credit Risk Fund An open ended debt To generate stable returns by investing in debt & June 25, 2014 Growth
{formerly known as scheme money market instruments across the yield curve & to Weekly Dividend
"Axis Fixed Income predominantly credit spectrum. However, there is no assurance or July 9, 2014 Monthly Dividend
Opportunities Fund"}# investing in AA and guarantee that the investment objective of the Direct Growth
below rated corporate Scheme will be achieved. The Scheme does not Direct Weekly Dividend
bonds (excluding AA+ assure or guarantee any returns. Direct Monthly Dividend
rated
corporate bonds)
Axis Corporate Debt An open ended debt The Scheme seeks to provide steady income and June 23, 2017 Growth
Fund scheme capital appreciation by investing in corporate debt. to Daily Dividend
{formerly known as predominantly There is no assurance or guarantee that the July 7, 2017 Weekly Dividend
"Axis Corporate Debt investing in AA+ and objectives of the Scheme will be realized. Monthly Dividend
Opportunities Fund"}# above rated corporate Regular Dividend
bonds. Direct Growth
Axis Ultra Short Term An open ended ultra- The investment objective of the Scheme is to August 27, 2018 Growth
Fund short term debt generate regular income and capital appreciation by to Daily Dividend
scheme investing in investing in a portfolio of short term debt and money September 4, 2018 Weekly Dividend
instruments such that market instruments with relatively lower interest rate Monthly Dividend
the Macaulay duration risk such that Macaulay duration of the portfolio is Regular Dividend
of the portfolio is between 3 months and 6 months. Direct Growth
between 3 months Direct Daily Dividend
and 6 months. Direct Weekly Dividend
# Pursuant to SEBI Circulars dated October 6, 2017 and December 4, 2017 on schemes Categorization and Rationalization, name of the schemes have
been changed w.e.f. May 18, 2018.
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each
other, or are interdependent or comparable in any way.
84
The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are
‘marked-to-market’. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of
Directors of the AMC and the Trustee, are stated below.
The net asset value of the units are determined separately for the units issued under the Options.
For reporting the net asset value within the portfolio, the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the
value of investments, and expenses accrued, are allocated to the related options in proportionto their respective daily net assets arrived at by multiplyingday-
end outstanding units by previous day's closing NAV.

(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction costs,
CCIL charges and any other charges customarily included in the broker’s note. Capitalisation of such brokerage and transaction costs incurred for the
purpose of execution of trades is restricted to 12 bps in case of cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of
the specified limit is charged to the revenue account of the scheme as part of the total expense ratio.
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest
receivable and debited to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is
credited to ‘Accrued Income Account’.
Rights entitlements are recognised as investments on the ex-rights date.
Bonus entitlements are recognised as investments on the ex-bonus date.
Investments in equity and equity related securities which have traded during a period of thirty days (prior to the balance sheet date) are stated at the closing
prices on the balance sheet date or the last trading day before the balance sheet date, as may be applicable, on The NationalStock Exchange of IndiaLimited
(principal stock exchange). When on a particular valuationday, a security has not been traded on the principal stock exchange, the value at which it is traded
on The Bombay Stock Exchange Limited is used.
Options / futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available
on valuation date on the respective stock exchange, settlement price is considered for valuation. Futures contracts, which are going to expire on valuation
date are valued at settlement price.
Non traded and thinly traded equity shares / warrants, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as
determined by the AMC under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
Units of listed mutual fund schemes, which are traded, are valued at the closing traded price on the respective stock exchange (where the scheme is listed)
as on the valuationdate. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published
on AMFI website as on the valuation date.
Governmentsecurities (including State Development Loans) are valued at the average of the prices released by CRISIL and ICRA, as suggested by AMFI,on
the basis of the valuation principles laid down by SEBI.
Treasury Bills (including cash management bills) with residual maturity greater than 60 days, are valued at the average of the prices released by CRISIL and
ICRA, as suggested by AMFI,on the basis of the valuation principles laid down by SEBI. The difference between last traded/valuedprice and next business
day's (T+1) aggregated price received from CRISIL and ICRA is amortised linearly upto the day preceding the next business day.
Treasury bills (including cash management bills) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by
schemes managed by the AMC. If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis
of amortized cost based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to
maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Valuation Agencies (CRISIL and
ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.
85
All debt securities with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes managed by the AMC. If
there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost based on
purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the
valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Valuation Agencies (CRISIL and ICRA). In case the
amortized value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.
All debt securities with residual maturity greater than 60 days, are valued using the simple average of the prices released by CRISIL and ICRA, as suggested
by AMFI.In case of new purchases which are not a part of the list of CRISIL and ICRA security level pricing, such securities are valued at weighted average
cost/yield on the day of purchase.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between
two balance sheet dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.

Dividend income is recognised on the ex-dividend date.
When units are issued or redeemed, the distributable surplus (excluding unit premium reserve, but including balance of distributable surplus at the beginning
of the year) as on the date of the transaction is determined. Based on the number of units outstanding on the transaction date, the distributable surplus
(excluding unit premium reserve, but including balance of distributable surplus at the beginning of the year) associated with each unit is computed. The per
unit amount so determined is credited / debited to the equalisation account on issue / redemption of each unit respectively.
(f) Loans (borrowings)
In order to meet temporary liquidity needs for the purpose of redemption of units, the Schemes in accordance with the Regulation 44(2) of SEBI (Mutual
Funds) Regulations, 1996, have borrowed amount which was within the regulatory limit of 20% of the previous day's net assets of the schemes and repaid
within the regulatory time limit of six months. The cost of borrowing in line with the policy has been adjusted against the interest income for the year or has
been borne by the AMC, wherever applicable.
(g) Load
(h) Cash and cash equivalent

Cash and cash equivalents include balances with banks in current accounts, deposits placed with scheduled banks (with an original maturity of up to three
months) and collateralised lending/Tri-Party Repo (including reverse repurchase transactions).
(i) Cash Flow Statements
Cash Flow Statement has been prepared in accordance with accounting standard 3 'Cash Flow Statements' for applicable scheme.
86
3. Unit Capital AXISISF AXISM10
AXIS REGULAR SAVER FUND AXIS REGULAR SAVER FUND AXIS GILT FUND AXIS GILT FUND
Initial Capital 446,271,322.929 4,462,713 446,271,322.929 4,462,713 73,167,902.883 731,680 73,167,902.883 731,680
RGGrowth
RGOutstanding, beginning of year/period 198,721,098.015 1,987,210 360,494,779.656 3,604,947 16,099,096.960 160,991 25,386,197.837 253,862
RGIssued
RG-new fund offer - - - - - -
RG-during the year 15,956,921.512 159,569 60,464,389.958 604,644 6,504,652.110 65,047 2,131,647.951 21,316
RGRedeemed during the year 87,633,128.887 876,331 222,238,071.599 2,222,381 11,114,106.443 111,141 11,418,748.828 114,187
RGOutstanding, end of year/period 127,044,890.640 1,270,448 198,721,098.015 1,987,210 11,489,642.627 114,897 16,099,096.960 160,991
RDD
Daily Dividend
RDD
87
RDD
Issued
RDD
-new fund offer
RDD
-during the year
RDD
Redeemed during the year
RDD
RDDividend
RDOutstanding, beginning of year/period
RDIssued
RD-new fund offer
RD-during the year
RDRedeemed during the year
RDOutstanding, end of year/period
RWWeekly Dividend
RWOutstanding, beginning of year/period
RWIssued
RW-new fund offer
RW-during the year
RWRedeemed during the year
RWOutstanding, end of year/period
3. Unit Capital (Contd.) AXISISF AXISM10
RMMonthly Dividend
RMOutstanding, beginning of year/period
RMIssued
RM-new fund offer
RM-during the year
RMRedeemed during the year
RMOutstanding, end of year/period
RQQuarterly Dividend
RQOutstanding, beginning of year/period 19,250,230.479 192,503 40,858,997.788 408,590
RQIssued
RQ-new fund offer - - - -
RQ-during the year 411,798.466 4,118 3,045,061.932 30,451
RQRedeemed during the year 6,754,141.849 67,541 24,653,829.241 246,538
88
RQOutstanding, end of year/period 12,907,887.096 129,080 19,250,230.479 192,503
RHHalf Yearly Dividend

RHOutstanding, beginning of year/period 774,625.761 7,744 1,492,877.171 14,927 115,151.413 1,152 128,508.882 1,285
RHIssued
RH-new fund offer - - - - - -
RH-during the year 28,980.745 290 227,237.851 2,272 2,118.618 21 15,153.835 152
RHRedeemed during the year 198,752.584 1,988 945,489.261 9,455 62,736.945 627 28,511.304 285
RHOutstanding, end of year/period 604,853.922 6,046 774,625.761 7,744 54,533.086 546 115,151.413 1,152
RY Annual Dividend
RY Outstanding, beginning of year/period 4,102,147.273 41,022 6,112,562.975 61,126
RY Issued
RY -new fund offer - - - -
RY -during the year 201,714.045 2,017 512,964.330 5,130
RY Redeemed during the year 2,738,300.152 27,383 2,523,380.032 25,234
RY Outstanding, end of year/period 1,565,561.166 15,656 4,102,147.273 41,022
RMRegular Dividend
RMOutstanding, beginning of year/period 224,431.499 2,244 308,059.167 3,080
RMIssued
RM-new fund offer - - - -
RM-during the year 20,240.110 202 10,172.811 102
RMRedeemed during the year 8,330.691 83 93,800.479 938
RMOutstanding, end of year/period 236,340.918 2,363 224,431.499 2,244
ZG Direct Growth
ZG Outstanding, beginning of year/period 2,772,497.683 27,726 2,504,417.613 25,045 12,367,644.726 123,676 32,976,146.432 329,761
ZG Issued
ZG -new fund offer - - - - - -
ZG -during the year 1,704,640.000 17,046 551,588.853 5,516 677,921.605 6,779 3,712,177.773 37,122
ZG Redeemed during the year 467,091.167 4,671 283,508.783 2,835 2,557,897.172 25,579 24,320,679.479 243,207
ZG Outstanding, end of year/period 4,010,046.516 40,101 2,772,497.683 27,726 10,487,669.159 104,876 12,367,644.726 123,676
ZDD
ZDD
ZDD
Issued
ZDD
-new fund offer
ZDD
-during the year
89
ZDD
ZDD
ZD Direct Dividend
ZD Outstanding, beginning of year/period
ZD Issued
ZD -new fund offer
ZD -during the year
ZD Redeemed during the year
ZD Outstanding, end of year/period
ZWDirect Weekly Dividend

ZWOutstanding, beginning of year/period
ZWIssued
ZW-new fund offer
ZW-during the year
ZWRedeemed during the year
ZWOutstanding, end of year/period
ZMDirect Monthly Dividend

ZMOutstanding, beginning of year/period
ZMIssued
ZM-new fund offer
ZM-during the year
ZMRedeemed during the year
ZMOutstanding, end of year/period
ZQ Direct Regular Dividend

ZQ Outstanding, beginning of year/period 2,741.973 28 69,140.414 692
ZQ Issued
ZQ -new fund offer - - - -
ZQ -during the year 260.256 3 2,822.093 28
ZQ Redeemed during the year 1,767.923 18 69,220.534 692
ZQ Outstanding, end of year/period 1,234.306 13 2,741.973 28
ZQ Direct Quarterly Dividend

ZQ Outstanding, beginning of year/period 37,343.188 374 140,723.453 1,408
ZQ Issued
ZQ -during the year 221,951.449 2,220 104,649.400 1,046
ZQ Redeemed during the year 165,003.126 1,650 208,029.665 2,080
90
ZQ Outstanding, end of year/period 94,291.511 944 37,343.188 374
ZH Direct Half Yearly Dividend

ZH Outstanding, beginning of year/period 5,304.144 54 57,622.856 577 - - - -
ZH Issued
ZH -new fund offer - - - - - -
ZH -during the year 6,566.693 66 5,288.121 53 2,627.620 26 - -
ZH Redeemed during the year 6,705.087 67 57,606.833 576 569.087 6 - -
ZH Outstanding, end of year/period 5,165.750 53 5,304.144 54 2,058.533 20 - -
ZY Direct Annual Dividend

ZY Outstanding, beginning of year/period 35,226.769 353 49,634.863 497
ZY Issued
ZY -new fund offer - - - -
ZY -during the year 27,556.892 276 33,761.903 338
ZY Redeemed during the year 10,552.755 106 48,169.997 482
ZY Outstanding, end of year/period 52,230.906 523 35,226.769 353
Total
Outstanding, beginning of year/period 225,698,473.312 2,256,986 411,711,616.375 4,117,117 28,809,066.571 288,091 58,868,052.732 588,680
Issued
-new fund offer - - - - - - - -
-during the year 18,560,129.802 185,602 64,944,942.348 649,450 7,207,820.319 72,078 5,871,974.463 58,720
Redeemed during the year 97,973,675.607 979,737 250,958,085.411 2,509,581 13,745,408.261 137,454 35,930,960.624 359,309
Outstanding, end of year/period 146,284,927.507 1,462,851 225,698,473.312 2,256,986 22,271,478.629 222,715 28,809,066.571 288,091
3. Unit Capital (Contd.) AXISTAF
AXIS GOLD FUND AXIS GOLD FUND AXIS CREDIT RISK FUND AXIS CREDIT RISK FUND
Initial Capital 36,071,181.251 360,712 36,071,181.251 360,712 74,988,368.054 749,883 74,988,368.054 749,883
RGGrowth
RGOutstanding, beginning of year/period 49,293,438.013 492,933 61,118,597.765 611,185 1,129,733,673.938 11,297,336 1,213,340,352.639 12,133,403
RGIssued
RG-new fund offer - - - -
RG-during the year 6,742,050.582 67,421 9,257,795.743 92,578 300,051,558.624 3,000,516 443,449,609.643 4,434,496
RGRedeemed during the year 14,325,669.173 143,257 21,082,955.495 210,830 498,357,055.382 4,983,571 527,056,288.344 5,270,563
RGOutstanding, end of year/period 41,709,819.422 417,097 49,293,438.013 492,933 931,428,177.180 9,314,281 1,129,733,673.938 11,297,336
RDD
Daily Dividend
91
RDD
RDD
Issued
RDD
-new fund offer
RDD
-during the year
RDD
RDD
RDDividend
RDOutstanding, beginning of year/period 2,057,993.908 20,579 2,644,093.136 26,440
RDIssued
RD-new fund offer - -
RD-during the year 227,919.461 2,279 343,777.956 3,438
RDRedeemed during the year 747,642.329 7,476 929,877.184 9,299
RDOutstanding, end of year/period 1,538,271.040 15,382 2,057,993.908 20,579
RWWeekly Dividend
RWOutstanding, beginning of year/period 2,038,737.276 20,387 5,526,541.951 55,265
RWIssued
RW-new fund offer - - - -
RW-during the year 431,156.704 4,312 226,759.684 2,268
RWRedeemed during the year 1,052,686.499 10,527 3,714,564.359 37,146
RWOutstanding, end of year/period 1,417,207.481 14,172 2,038,737.276 20,387
RMMonthly Dividend
RMOutstanding, beginning of year/period 63,238,336.773 632,383 124,454,454.787 1,244,545
RMIssued
RM-new fund offer - - - -
RM-during the year 14,710,419.509 147,104 37,546,035.174 375,460
RMRedeemed during the year 37,932,041.439 379,320 98,762,153.188 987,622
RMOutstanding, end of year/period 40,016,714.843 400,167 63,238,336.773 632,383
RQQuarterly Dividend
RQOutstanding, beginning of year/period
RQIssued
RQ-new fund offer
92
RQ-during the year
RQRedeemed during the year
RQOutstanding, end of year/period
RHHalf Yearly Dividend

RHOutstanding, beginning of year/period
RHIssued
RH-new fund offer
RH-during the year
RHRedeemed during the year
RHOutstanding, end of year/period
RY Annual Dividend
RY Outstanding, beginning of year/period
RY Issued
RY -new fund offer
RY -during the year
RY Redeemed during the year
RY Outstanding, end of year/period
RMRegular Dividend
RMOutstanding, beginning of year/period
RMIssued
RM-new fund offer
RM-during the year
RMRedeemed during the year
RMOutstanding, end of year/period
ZG Direct Growth
ZG Outstanding, beginning of year/period 1,521,051.639 15,212 1,341,633.469 13,418 169,018,175.409 1,690,181 37,229,255.109 372,292
ZG Issued
-new fund offer - - - -
93
-during the year 1,444,434.312 14,444 782,313.322 7,823 41,171,003.694 411,710 145,416,108.695 1,454,161
Redeemed during the year 456,180.567 4,562 602,895.152 6,029 49,253,906.571 492,539 13,627,188.395 136,272
Outstanding, end of year/period 2,509,305.384 25,094 1,521,051.639 15,212 160,935,272.532 1,609,352 169,018,175.409 1,690,181

Issued
ZDD
-new fund offer
ZDD
-during the year
ZDD
ZDD
ZD Direct Dividend
ZD Outstanding, beginning of year/period 213,096.935 2,130 171,393.095 1,713
ZD Issued
ZD -new fund offer - -
ZD -during the year 77,701.185 777 65,255.313 653
ZD Redeemed during the year 15,942.319 159 23,551.473 236
ZD Outstanding, end of year/period 274,855.801 2,748 213,096.935 2,130
ZWDirect Weekly Dividend

ZWOutstanding, beginning of year/period 111,342.942 1,114 114,361.855 1,144
ZWIssued
ZW-new fund offer - - - -
ZW-during the year 112,001.688 1,120 22,854.092 229
ZWRedeemed during the year 123,348.981 1,233 25,873.005 259
ZWOutstanding, end of year/period 99,995.649 1,001 111,342.942 1,114
ZMDirect Monthly Dividend

ZMOutstanding, beginning of year/period 268,493.823 2,686 473,493.871 4,736
ZMIssued
ZM-new fund offer - - - -
ZM-during the year 70,713.106 707 205,135.502 2,051
ZMRedeemed during the year 150,054.000 1,501 410,135.550 4,101
ZMOutstanding, end of year/period 189,152.929 1,892 268,493.823 2,686
ZQ Direct Regular Dividend

ZQ Outstanding, beginning of year/period
ZQ Issued
ZQ -new fund offer
94
ZQ -during the year
ZQ Redeemed during the year
ZQ Outstanding, end of year/period
ZQ Direct Quarterly Dividend

ZQ Issued
ZQ -new fund offer
ZQ -during the year
ZQ Redeemed during the year
ZH Direct Half Yearly Dividend

ZH Outstanding, beginning of year/period
ZH Issued
ZH -new fund offer
ZH -during the year
ZH Redeemed during the year
ZH Outstanding, end of year/period
ZY Direct Annual Dividend

ZY Outstanding, beginning of year/period
ZY Issued
ZY -new fund offer
ZY -during the year
ZY Redeemed during the year
ZY Outstanding, end of year/period
Total
Outstanding, beginning of year/period 53,085,580.495 530,854 65,275,717.465 652,756 1,364,408,760.161 13,644,087 1,381,138,460.212 13,811,385
Issued
-new fund offer - - - - - - - -
-during the year 8,492,105.540 84,921 10,449,142.334 104,492 356,546,853.325 3,565,469 626,866,502.790 6,268,665
Redeemed during the year 15,545,434.388 155,454 22,639,279.304 226,394 586,869,092.872 5,868,691 643,596,202.841 6,435,963
Outstanding, end of year/period 46,032,251.647 460,321 53,085,580.495 530,854 1,134,086,520.614 11,340,865 1,364,408,760.161 13,644,087
95
AXIS CORPORATE DEBT FUND AXIS CORPORATE DEBT FUND AXIS ULTRA SHORT TERM FUND
March 31, 2019 March 31, 2018 March 31, 2019
Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up
Quantity Amount Quantity Amount Quantity Amount
(Rs. in 000's) (Rs. in 000's) (Rs. in 000's)
Initial Capital 357,005,448.800 3,570,055 357,005,448.800 3,570,055 573,404,540.300 5,734,045
Growth
Outstanding, beginning of year/period 77,651,795.550 776,519
Issued
-new fund offer - - 63,854,980.100 638,550 147,663,362.200 1,476,634
96
-during the year 313,622,305.877 3,136,223 423,760,865.042 4,237,609 1,314,762,734.956 13,147,627
Redeemed during the year 255,928,000.981 2,559,280 409,964,049.592 4,099,640 694,148,896.855 6,941,489
Outstanding, end of year/period 135,346,100.446 1,353,462 77,651,795.550 776,519 768,277,200.301 7,682,772
Daily Dividend
Issued
-new fund offer - - 1,317,051.000 13,171 16,996,382.400 169,964
-during the year 53,609,527.997 536,095 69,031,716.079 690,317 55,220,153.899 552,202
Redeemed during the year 85,356,706.520 853,567 36,495,573.619 364,956 45,893,193.585 458,932
Outstanding, end of year/period 2,106,014.937 21,060 33,853,193.460 338,532 26,323,342.714 263,234
Dividend
Outstanding, beginning of year/period 415,214.971 4,152
Issued
-new fund offer - - 91,600.000 916 29,510.000 295
-during the year 202,547.042 2,025 725,979.688 7,260 2,588,571.246 25,886
Redeemed during the year 253,343.186 2,533 402,364.717 4,024 147,099.351 1,471
Outstanding, end of year/period 364,418.827 3,644 415,214.971 4,152 2,470,981.895 24,710
Weekly Dividend
Outstanding, beginning of year/period 7,219,177.368 72,192 - - - -
Issued
-new fund offer - - 141,442.300 1,414 596,500.000 5,965
-during the year 1,748,851.908 17,489 14,580,458.870 145,805 7,996,641.552 79,966
Redeemed during the year 7,852,520.033 78,525 7,502,723.802 75,027 2,073,594.805 20,736
97
Monthly Dividend
Outstanding, beginning of year/period 442,892.279 4,429 - - - -
Issued
-new fund offer - - 705,200.000 7,052 990,500.000 9,905
-during the year 1,156,481.132 11,565 380,306.253 3,803 8,085,086.714 80,851
Redeemed during the year 1,084,660.356 10,847 642,613.974 6,426 7,636,227.033 76,362
Outstanding, end of year/period 514,713.055 5,147 442,892.279 4,429 1,439,359.681 14,394
Quarterly Dividend
Issued
-new fund offer
-during the year
Half Yearly Dividend

Issued
-new fund offer
-during the year
Annual Dividend
Issued
-new fund offer
-during the year
98
Regular Dividend
Issued
-new fund offer
-during the year
Direct Growth
Outstanding, beginning of year/period 112,051,967.721 1,120,520 - - - -
Issued
-new fund offer - - 288,410,905.100 2,884,109 329,427,138.600 3,294,271
-during the year 201,909,934.664 2,019,099 84,004,495.909 840,045 471,925,918.988 4,719,259
Redeemed during the year 252,380,413.262 2,523,804 260,363,433.288 2,603,634 534,217,741.017 5,342,177
Outstanding, end of year/period 61,581,489.123 615,815 112,051,967.721 1,120,520 267,135,316.571 2,671,353

Outstanding, beginning of year/period 549,120.012 5,492
Issued
-new fund offer - - 513,260.300 5,133 52,559,238.600 525,592
-during the year 17,438,654.188 174,387 6,054,484.948 60,545 85,743,847.259 857,438
Redeemed during the year 7,943,660.790 79,437 6,018,625.236 60,186 131,951,447.502 1,319,514
Outstanding, end of year/period 10,044,113.410 100,442 549,120.012 5,492 6,351,638.357 63,516
Direct Dividend
Outstanding, beginning of year/period 8,000.000 80
Issued
-new fund offer - - 1,564,000.000 15,640 89,207.800 892
-during the year 28,497.239 285 - - 80,759.066 808
Redeemed during the year 6,931.446 69 1,556,000.000 15,560 14,657.332 147
Outstanding, end of year/period 29,565.793 296 8,000.000 80 155,309.534 1,553
99
Outstanding, beginning of year/period 10,764,672.797 107,647 - - - -
Issued
-new fund offer - - 3,010.000 30 25,006,600.000 250,066
-during the year 9,091,731.902 90,917 12,514,256.536 125,143 913,422.138 9,134
Redeemed during the year 19,845,975.289 198,460 1,752,593.739 17,526 15,925.533 159
Outstanding, end of year/period 10,429.410 104 10,764,672.797 107,647 25,904,096.605 259,041

Outstanding, beginning of year/period 21,092.757 211 - - - -
Issued
-new fund offer - - 404,000.000 4,040 46,100.700 461
-during the year 1,069,957.623 10,700 23,025.144 230 13,416,337.445 134,163
Redeemed during the year 19,198.215 192 405,932.387 4,059 11,672,364.820 116,724
Outstanding, end of year/period 1,071,852.165 10,719 21,092.757 211 1,790,073.325 17,900

Issued
-new fund offer
-during the year

Issued
-new fund offer
-during the year
100
Issued
-new fund offer
-during the year
Direct Annual Dividend

Issued
-new fund offer
-during the year
Total
Outstanding, beginning of year/period 242,977,126.915 2,429,774 - - - -
Issued
-new fund offer - - 357,005,448.800 3,570,055 573,404,540.300 5,734,045
-during the year 599,878,489.572 5,998,785 611,075,588.469 6,110,757 1,960,733,473.263 19,607,334
Redeemed during the year 630,671,410.078 6,306,714 725,103,910.354 7,251,038 1,427,771,147.833 14,277,711
Outstanding, end of year/period 212,184,206.409 2,121,845 242,977,126.915 2,429,774 1,106,366,865.730 11,063,668
Rupees in '000
AXIS GILT FUND AXIS GILT FUND AXIS GOLD FUND AXIS GOLD FUND
SAVER FUND SAVER FUND FUND FUND DEBT FUND DEBT FUND TERM FUND

Balance, beginning of year/period 52,456 338,836 5,761 23,725 39,700 47,693 180,748 180,696 845 - -
Net premium/discount on issue/redemption of units (631,541) (1,322,869) (35,289) (152,134) 1,938 8,358 (812,674) 156,701 (31,544) (41,124) 209,478
Transferred to equalisation account 564,230 1,036,489 33,960 134,170 (5,119) (16,351) 782,657 (156,649) 31,921 41,969 (198,824)
Balance, end of year/period (14,855) 52,456 4,432 5,761 36,519 39,700 150,731 180,748 1,222 845 10,654

Balance, beginning of year/period 194,467 238,235 943 - - - - 46,613 - - -
Change in unrealised appreciation in value of investments (94,930) (43,768) 965 943 - - - (46,613) 10,657 - 27,079
Balance, end of year/period 99,537 194,467 1,908 943 - - - - 10,657 - 27,079
Retained surplus
Balance, beginning of year/period 1,482,386 2,070,024 142,131 259,255 (58,484) (86,125) 4,672,958 3,332,804 102,734 - -
Transferred to revenue account (8,673) (20,575) (172) (161) - - (4,162) (1,357) (1,284) - -
Surplus/(Deficit) transferred from revenue account (299,497) (567,063) (11,441) (116,963) 20,589 27,641 286,569 1,341,511 175,079 102,734 452,200
Balance, end of year/period 1,174,216 1,482,386 130,518 142,131 (37,895) (58,484) 4,955,365 4,672,958 276,529 102,734 452,200
Total reserves 1,258,898 1,729,309 136,858 148,835 (1,376) (18,784) 5,106,096 4,853,706 288,408 103,579 489,933
The share of the options in the reserves

and surplus is as follows:
RG Growth 1,204,987 1,682,386 68,663 81,218 (3,021) (18,445) 4,238,534 4,127,653 189,884 37,531 350,431
101
RDD Daily Dividend 161 2,650 744
RD Dividend (93) (746) 512 201 1,127
RW Weekly Dividend 272 417 95 582 483
RM Monthly Dividend 20 4,905 8,181 38 36 73
RQ Quarterly Dividend 6,867 12,685
RH Half Yearly Dividend 340 758 24 92
RY Annual Dividend 1,727 6,050
Regular Dividend 11
zG Direct Growth 44,556 27,215 68,150 67,514 1,564 355 862,345 717,403 96,754 61,646 134,751
ZDD Direct Daily Dividend 838 47 183
ZD Direct Dividend 174 52 46 4 78
ZW Direct Weekly Dividend 27 32 1 880 1,959
ZM Direct Monthly Dividend 13 20 79 2 104
ZQ Direct Quarterly Dividend 315 131 - -
ZH Direct Half Yearly Dividend 7 9 1 -
ZY Direct Annual Dividend 99 75
1,258,898 1,729,309 136,858 148,835 (1,376) (18,784) 5,106,096 4,853,706 288,408 103,579 489,933
Amount due to AMC
- Management fees 1,792 6,432 6 120 - - 55,612 16,920 1,021 1,300 3,956
- Others - 4,426 - - - 214 6,413 6,558 - - -
Trusteeship fee payable 1 2 # # # # 8 11 1 2 5
- Lateral shift payable 541 204 109 5,538 73 51 977 495 1,236 1,589 18,634
- Others 1,543 2,316 53 - 1,095 2,130 4,433 14,565 389 1,172 41,024
Interscheme payable - - - # - - - 200 - - -
Contract for purchase of investments - - - - - - - 96,635 - - -
Audit fee payable 230 220 30 110 111 110 117 108 121 108 230
Registrar service fees payable 4 143 25 27 - 39 426 589 55 91 303
Dividend payable on units - 45 - - - - - 1 - # -
Dividend distribution tax payable - - - - - - - - 49 138 76
Unit application pending allotment 550 200 5 - 35 - 8,920 8,272 5,826 5,026 52,533
Commission to distributors payable 2,446 152 67 2 190 39 5,466 1 943 - 4,990
Custody fees payable 16 36 2 4 2 5 79 165 11 25 53
Investor education expense payable 46 70 6 8 8 8 278 318 40 48 184
Interest payable on loan - - - - - - - - - 107 -
Other current liabilities 537 500 53 15 283 292 1,012 2,433 124 56 529
7,706 14,746 356 5,824 1,797 2,888 83,741 147,271 9,816 9,662 122,517
Rupees in '000
6. INVESTMENTS
Equity shares 527,136 957,068 - - - - - - - - -
Warrant - 23,626 - - - - - - - - -
Privately placed / unlisted debentures and bonds - 387,971 - - - - 2,255,518 1,169,946 - 165,858 685,019
Listed debentures and bonds 1,838,526 2,210,811 - - - - 11,117,364 13,637,932 1,768,085 1,963,226 6,563,070
Certificates of deposit 140,986 74,744 - - - - - - 141,539 283,219 1,941,019
Commercial Paper 98,858 - - - - - - - 98,483 46,892 1,307,780
Units of mutual fund - - - - 455,731 508,820 - - - - -
Options - 14,391 - - - - - - - - -
Securitised Debt - 27,769 - - - - 2,028,191 1,625,983 95,568 151,800 92,557
Government securities (including treasury bills) - - 352,147 415,529 - - 661,787 1,559,971 201,926 - -
INVESTMENTS 2,605,506 3,696,380 352,147 415,529 455,731 508,820 16,062,860 17,993,832 2,305,601 2,610,995 10,589,445
Equity shares
- appreciation 137,692 237,932 - - - - - - - - -
102
- depreciation 19,410 41,590 - - - - - - - - -
Warrant
- appreciation - 4,813 - - - - - - - - -
- depreciation - - - - - - - - - - -
- appreciation - 551 - - - - 4,205 1,121 - 161 2,354
- depreciation - - - - - - 6,671 4,680 - 198 633
- appreciation 2,292 4,483 - - - - 20,386 31,441 16,707 1,195 20,140
- depreciation 21,471 18,096 - - - - 130,712 76,338 7,710 10,823 692
- appreciation 258 191 - - - - - - 690 657 3,889
- depreciation - - - - - - - - - - -
Commercial Paper
- appreciation 176 - - - - - - - 129 174 1,749
- depreciation - - - - - - - - - - 124
Units of mutual fund
- appreciation - - - - - - - - - - -
- depreciation - - - - 5,579 25,625 - - - - -

(ii) Aggregate appreciation and depreciation in the value of investments are as follows (Contd.): Rupees in '000
Option
- appreciation - 6,273 - - - - - - - - -
- depreciation - - - - - - - - - - -
Securitised Debt
- appreciation - - - - - - 678.00 1,140 244.00 440 396.00
- depreciation - 89 - - - - 1,700 4,623 134 276 -
Government securities (including treasury bills)
- appreciation - - 1,965.00 4,482 - - 1,741.00 1,995 731.00 - -
- depreciation - - 57 3,539 - - 1,026 27,081 - - -
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year/period and these amounts as a percentage of average daily net assets are as follows:
Rupees in '000
103
Purchases (excluding collateralised lending/Tri-Party Repo, fixed
deposits, futures and options)
- amount 1,680,296 4,709,755 8,013,471 1,504,301 - - 31,715,388 47,487,023 16,531,605 9,046,459 26,397,392
- as a percentage of average daily net assets 52.17% 87.12% 2016.41% 286.05% - - 184.95% 252.29% 576.11% 285.53% 384.81%
Purchases at option premium (index / stock options)
- amount - 15,913 - - - - - - - - -
- as a percentage of average daily net assets - 0.29% - - - - - - - - -
Sales (excluding collateralised lending/Tri-Party Repo, fixed deposits,

futures and options)
- amount 2,834,380 7,752,494 8,083,376 1,876,491 71,310 113,773 33,698,632 46,406,492 16,923,432 6,488,509 15,736,830
- as a percentage of average daily net assets 88.00% 143.40% 2034.00% 356.82% 14.67% 20.50% 196.52% 246.55% 589.76% 204.79% 229.41%
Sales at exercised price (index / stock options)
- amount 4,510 43,338 - - - - - - - - -
- as a percentage of average daily net assets 0.14% 0.80% - - - - - - - - -

(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year and the fair value of such investments as at March 31, 2019 in companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
(v) Aggregate fair value of non traded investments (excluding
government securities and treasury bills) valued in good faith
2,078,370 2,701,295 - - - - 14,721,206 16,433,861 1,797,939 2,610,995 10,589,446
Rupees in '000
(vi) Securities kept as Collateral with Clearing Corporation of India
Limited
- - - 10,000 - - 20,000 20,000 - - -
Rupees in '000
Balances with banks in current accounts 2,963 3,411 521 631 996 924 20,051 33,856 34,097 14,934 235,614
104
- Lateral shift receivable - 80 5 17 - 7 85 105 216 214 1,945
- Others 5 267 26 - 37 34 824 11 1,698 446 13,352
Interscheme receivable 1,493 - - - - - 500 - 70 - 46,108
Contracts for sale of investments - 35,284 - - - - - - - - -
Margin deposit with Clearing Corporation of India Limited - - - - - - 5,000 5,000 - - -
Outstanding and accrued income 85,305 88,393 6,432 7,188 - - 423,678 533,890 65,486 64,198 254,065
Amount due from AMC 237 - - 294 - - - - - 53 -
Collateralised lending, Reverse Repo and Tri-Party Repo 33,946 177,226 798 19,091 3,895 5,173 13,704 78,370 12,901 2,015 535,589
Investment redemption Receivable - - - - - - 4,000 - - - -
Other current assets - - - - 83 - - - - - -
123,949 304,661 7,782 27,221 5,011 6,138 467,842 651,232 114,468 81,860 1,086,673
8. INTEREST
Money market instruments 12,791 9,893 - - - - 2,472 10,933 38,849 24,623 97,081
Debentures and bonds 182,318 283,198 - - - - 1,278,705 1,298,701 165,076 142,983 178,476
Fixed deposits - 870 - - - - - - - - -
Government securities (including treasury bills) 552 129 26,330 37,733 - - 45,976 146,153 4,591 - -
Collateralised lending / Tri-Party Repo 4,152 9,005 1,705 707 335 280 14,381 14,820 11,889 9,833 26,081
Securitised Debt 1,339 2,084 - - - - 162,976 97,481 11,029 8,274 17,125
Less: Interest on borrowing - - - - - - - - (27) (54) -
201,152 305,179 28,035 38,440 335 280 1,504,510 1,568,088 231,407 185,659 318,763

The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other
schemes and fixed deposits including interest thereon as applicable. During the year/period ended March 31, 2019, the Schemes have paid management fee at annualised average rate as follows:
Management fee (excluding Service Tax/GST) at annualised average
rate 1.70% 2.09% 0.25% 0.39% - - 1.15% 1.22% 0.46% 0.54% 0.29%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling
of 0.10% per annum on average net assets of all the schemes.
Income (net off realised loss on sale of investment and excluding net
change in marked to market in value of investments)
105
- amount 346,745 628,425 24,468 8,132 (1,260) (9,315) 1,402,359 1,624,673 243,595 183,551 323,063
- as a percentage of average daily net assets 10.77% 11.62% 6.16% 1.55% -0.26% -1.68% 8.18% 8.63% 8.49% 8.07% 8.47%
- amount 78,125 148,889 1,931 2,789 3,316 4,049 266,476 300,586 22,373 16,301 30,326
(i) The Schemes have entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18 on
'Related Party Disclosures' issued by the Institute of Chartered Accountants of India is provided below.

Axis Finance Limited Group Company

Axis Liquid Fund Axis Capital Protection Oriented Fund - Series 5
Axis Treasury Advantage Fund Axis Equity Advantage Fund - Series 1
Axis Bluechip Fund Axis Nifty ETF
Axis Long Term Equity Fund Axis Dynamic Equity Fund
Axis Short Term Fund Axis Equity Advantage Fund - Series 2
106
Axis Dynamic Bond Fund Axis Fixed Term Plan - Series 93 (91 Days)
Axis Strategic Bond Fund Axis Fixed Term Plan - Series 94 (177 Days)
Axis Banking & PSU Debt Fund Axis Fixed Term Plan - Series 95 (1185 Days)
Axis Focused 25 Fund Axis Equity Hybrid Fund
Axis Arbitrage Fund Axis Fixed Term Plan - Series 96 (1124 Days)
Axis Equity Saver Fund Axis Fixed Term Plan - Series 97 (1116 Days)
Axis Children's Gift Fund Axis Growth Opportunities Fund
Axis Small Cap Fund Axis Capital Builder Fund - Series 4 (1582 Days)
Axis Hybrid Fund - Series 30 (1297 Days) Axis Overnight Fund
Axis Hybrid Fund - Series 26 (1276 Days)

Rupees in '000
AXIS REGULAR SAVER FUND AXIS GILT FUND AXIS GOLD FUND
Axis Mutual Fund Trustee Limited Fees for trusteeship services 22 37 1 3 3 4 # # 3 4 # #
Axis Asset Management Company Limited Fees for investment management services
(including Service Tax/GST)
64,437 131,137 1,792 6,433 1,162 2,383 6 120 - - - -
Axis Asset Management Company Limited Receivable for other expenses - - 237 - - - - 294 - - - -
Axis Asset Management Company Limited Payable for other expenses - - - 4,426 - - - - - - - 214
Axis Gold ETF Fund Sale of securities 71,886
Rupees in '000
AXIS CREDIT RISK FUND AXIS CORPORATE DEBT FUND AXIS ULTRA SHORT TERM FUND
Year ended Year ended Balance as at Balance as at Year ended Period ended Balance as at Balance as at Period ended Balance as at
Name of related party Nature of transactions March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2019
Axis Mutual Fund Trustee Limited Fees for trusteeship services 115 129 8 12 19 17 1 2 26 6
Axis Asset Management Company Limited Fees for investment management services
(including Service Tax/GST)
231,805 269,349 55,612 16,935 15,416 14,436 1,021 1,301 12,859 3,956
Axis Asset Management Company Limited Receivable for other expenses - - - - - - - 53 - -
Axis Asset Management Company Limited Payable for other expenses - - 6,413 6,558 - - - - - -
Axis Bank Limited Purchase of securities 551,178 462,382 - - 566,743 120,895 - - 101,461 -
Axis Bank Limited Sale of securities 50,051 - - - - - - - - -
Axis Asset Management Company Limited Subscription of units at NAV - - 7,676 7,118 - 5,000 5,783 5,272 5,000 5,250
Axis Bank Limited Subscription of units at NAV 11,178 1,579 10,659 - - - - - - -
Axis Bank Limited Redemption of units at NAV 1,040 1,589 - - - - - - - -
Axis Hybrid Fund Series 19 Subscription of units at NAV - - - - 1,700,000 - - - - -
Axis Hybrid Fund Series 19 Redemption of units at NAV - - - - 1,702,960 - - - - -
107
Rupees in '000
Name of sponsor, associates, employees or AXIS AXIS AXIS ULTRA
AXIS REGULAR AXIS REGULAR AXIS CREDIT AXIS CREDIT
their relatives of AMC (Nature of relation) AXIS GILT FUND AXIS GILT FUND AXIS GOLD FUND AXIS GOLD FUND CORPORATE CORPORATE SHORT TERM
SAVER FUND SAVER FUND RISK FUND RISK FUND
DEBT FUND DEBT FUND FUND
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended Period ended
Professional clearing member charges - # - - - - - - - - -
Bank charges 118 201 5 8 99 197 75 82 10 82 11
Commission paid on distribution of units * 6,228 6,854 58 - 1,901 2,470 (2,700) 10,780 1,409 - 3,368
Commission paid on distribution of units 25 2 1 - 20 17 8 - # - 2
Employee)
Commission paid on distribution of units # 2 - - - 17 - - 2 - #
Mrs. Urvi Mahendra Dedhia (Relative of AMC
Employee)
Commission paid on distribution of units - - - - # -
Axis Capital Limited (Associate)
Brokerage on trades 89 54 - - - - - - - - -
# Amount less than Rs. 0.5 thousand - - - - - -
* Includes transaction charges
Associate have been paid commission on normal commercial terms at basis of an arm's length for procuring unit subscriptions for the Schemes.
(iii) Subscription by the schemes in the issues lead managed by associate companies/ Subscription to any issue of equity or debt on private placement basis where the sponsor or associate companies have acted as arranger or lead manager.
F.Y. 2018-2019 Rupees in '000

Name of the
Arranger Scheme Name Date Security Type security Face Value
Rent-A-Device Trust
Pass Through PTC S9 (MD
Axis Credit Risk Fund 24-Jul-18 Certificate 28/09/2020) 118,000
Rent-A-Device Trust
Pass Through PTC S10 (MD
Axis Credit Risk Fund 24-Jul-18 Certificate 28/12/2020) 115,000
F.Y. 2017-2018 Rupees in '000

Name of the
Arranger Scheme Name Date Security Type security Face Value
Central Depository
Services (India)
Axis Income Saver 21-Jun-17 Equity Shares Limited 4,545
Axis Capital Limited
S Chand & Company

Axis Income Saver 28-Apr-17 Equity Shares Limited 6,045
10.25%Suhani Tra &

Inv Co P Ltd
108
Axis Fixed Income (29/01/2021)
Opportunities Fund 29-Jan-18 Corporate Bond (Put/Call 29/01/2020) 400,000
10.25%Suhani Tra &

Axis Finance Limited Inv Co P Ltd
(29/01/2021)
Axis Income Saver 29-Jan-18 Corporate Bond (Put/Call 29/01/2020) 50,000
10.25%Suhani Tra &

Inv Co P Ltd
Axis Corporate Debt (29/01/2021)
Opportunities Fund 29-Jan-18 Corporate Bond (Put/Call 29/01/2020) 60,000
Rupees in '000
Name of sponsor company and its group AXIS AXIS AXIS ULTRA
AXIS REGULAR AXIS REGULAR AXIS CREDIT AXIS CREDIT
companies AXIS GILT FUND AXIS GILT FUND AXIS GOLD FUND AXIS GOLD FUND CORPORATE CORPORATE SHORT TERM
SAVER FUND SAVER FUND RISK FUND RISK FUND
DEBT FUND DEBT FUND FUND
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended Period ended
Axis Bank Limited *
Investments made by the Scheme - - - - - - - - - - -
Investment made by other schemes 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656
Total investments 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656
13. DERIVATIVES DISCLOSURE
14. NET ASSET VALUE Rupees

Options FUND FUND AXIS GILT FUND AXIS GILT FUND AXIS GOLD FUND AXIS GOLD FUND FUND FUND DEBT FUND DEBT FUND TERM FUND
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
RG Growth 19.4848 18.4661 15.9762 15.0449 9.9276 9.6258 14.5506 13.6537 11.4030 10.4833 10.4561
RDD Daily Dividend 10.0764 10.0783 10.0283
RD Dividend 9.9394 9.6374 11.4036 10.4839 10.4561
RW Weekly Dividend 10.1917 10.2045 10.0853 10.0806 10.0741
RM Monthly Dividend 10.1226 10.1294 10.0729 10.0806 10.0509
RQ Quarterly Dividend 10.5320 10.6590
RH Half Yearly Dividend 10.5613 10.9783 10.4326 10.7952
RM Regular Dividend 10.0835 10.0500
RY Annual Dividend 11.1028 11.4749
ZG Direct Growth 21.1112 19.8162 16.4981 15.4589 10.6227 10.2334 15.3583 14.2445 11.5712 10.5502 10.5044
ZDD Direct Daily Dividend 10.0834 10.0856 10.0288
ZD Direct Dividend 10.6329 10.2426 11.5683 10.5475 10.5048
zq Direct Regular Dividend 10.0852 10.0535
ZW Direct Weekly Dividend 10.2742 10.2870 10.0805 10.0818 10.0756
ZM Direct Monthly Dividend 10.0685 10.0758 10.0741 10.0812 10.0581
ZQ Direct Quarterly Dividend 13.3358 13.5012
ZH Direct Half Yearly Dividend 11.3613 11.6368 10.4629 -
ZY Direct Annual Dividend 11.9017 12.1291
109
15. Loans(Borrowings)
Name of the Scheme Date of Borrowing Source Amount borrowed (Rs. In '000) Rate of Borrowing
Axis Corporate Debt Fund NIL
Clearing Corporation of
Axis Corporate Debt Fund 28-Mar-18
India Limited 149,840 6.50%
* Borrowing under CBLO segment is against margin placed in the form of Government Securities.

Contingent liabilities as on March 31, 2019: NIL (Previous year - NIL).

The schemes operates in one segment only viz. to primarily generate attractive returns based on investment objectives of the Scheme.

There were no transactions in credit default swaps during the year/period ended March 31, 2019. (Previous year - NIL).
19. SURPLUS AVAILABLE FOR DISTRIBUTION Rupees in '000

Particulars FUND FUND FUND FUND DEBT FUND DEBT FUND TERM FUND
Total Reserves 1,258,898 1,729,309 136,858 148,835 (1,376) (18,784) 5,106,096 4,853,706 288,408 103,579 489,933
99,537 194,467 1,908 943 - - - - 10,657 - 27,079

Less : Credit balance in unit premium reserve
at plan level
Net premium/discount on issue/redemption of units 11,040 56,648 4,809 5,983 36,518 39,700 150,903 180,996 1,722 1,785 10,898
Distributable Surplus 1,148,321 1,478,194 130,141 141,909 (37,894) (58,484) 4,955,193 4,672,710 276,029 101,794 451,956
In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI has been transferred to AMFI and balance 50%,
transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) / Treps (Tri-Party Repo).

Rupees in '000
Rupees in '000
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
Unclaimed dividend and redemption gets transferred from schemes to separate pool account and is maintained separately. This disclosure has been carried out in the financial statements for all the schemes at pool level.
110
As these are the first financial statements of Axis Ultra Short Term Fund, there are no prior period comparatives.The prior period figures for Axis Corporate Debt Fund are for a period of less than one year and hence are not comparable to the current year.


To the Trustees of
Axis Mutual Fund – Axis Arbitrage Fund
Opinion
We have audited the accompanying financial statements of Axis Arbitrage Fund (“the Scheme”), which
Basis for Opinion
to fraud or error.
111
process.
safeguards.
112

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
113
To the Trustees of
Axis Mutual Fund – Axis Bluechip Fund
Opinion
We have audited the accompanying financial statements of Axis Bluechip Fund (“the Scheme”), which
Basis for Opinion
to fraud or error.
114
process.
safeguards.
115

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
116
To the Trustees of
Axis Mutual Fund – Axis Dynamic Equity Fund
Opinion
We have audited the accompanying financial statements of Axis Dynamic Equity Fund (“the Scheme”),
Basis for Opinion
to fraud or error.
process.
117
safeguards.
118

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
119
To the Trustees of
Axis Mutual Fund – Axis Focused 25 Fund
Opinion
We have audited the accompanying financial statements of Axis Focused 25 Fund (“the Scheme”),
Basis for Opinion
to fraud or error.
process.
120
safeguards.
121

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
122
To the Trustees of
Axis Mutual Fund – Axis Long Term Equity Fund
Opinion
We have audited the accompanying financial statements of Axis Long Term Equity Fund (“the
Basis for Opinion
to fraud or error.
process.
123
safeguards.
124

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
125
To the Trustees of
Axis Mutual Fund – Axis Midcap Fund
Opinion
We have audited the accompanying financial statements of Axis Midcap Fund (“the Scheme”), which
Basis for Opinion
to fraud or error.
process.
126
safeguards.
127

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
128
To the Trustees of
Axis Mutual Fund – Axis Multicap Fund
Opinion
We have audited the accompanying financial statements of Axis Multicap Fund (“the Scheme”), which
and
Basis for Opinion
process.
129
safeguards.
130

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
131
Balance Sheet
AXIS AXIS LONG AXIS LONG AXIS AXIS AXIS AXIS AXIS
AXIS BLUECHIP BLUECHIP TERM EQUITY TERM EQUITY AXIS MIDCAP AXIS MIDCAP FOCUSED 25 AXIS FOCUSED ARBITRAGE ARBITRAGE AXIS DYNAMIC AXIS DYNAMIC MULTICAP MULTICAP
FUND FUND FUND FUND FUND FUND FUND 25 FUND FUND FUND EQUITY FUND EQUITY FUND FUND FUND
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 17,663,023 7,976,641 47,245,752 43,314,575 6,129,434 4,015,182 27,139,330 12,975,431 17,593,679 16,283,473 21,481,225 24,789,334 29,072,360 22,885,570
Reserves and surplus 2(b) & 4 30,339,668 10,525,313 141,211,919 115,684,162 15,856,537 9,056,855 44,760,781 18,561,770 3,392,571 2,030,864 2,000,227 868,466 3,912,049 63,009
Current liabilities 5 1,355,092 94,346 805,459 2,527,994 121,252 66,766 348,300 398,443 287,065 2,324,551 256,394 560,325 336,171 335,136
49,357,783 18,596,300 189,263,130 161,526,731 22,107,223 13,138,803 72,248,411 31,935,644 21,273,315 20,638,888 23,737,846 26,218,125 33,320,580 23,283,715
Investments 2(c), 6 & 23 42,768,654 17,224,917 178,221,430 152,180,651 19,330,593 12,120,844 69,238,703 29,793,003 17,784,767 17,558,534 18,314,457 23,223,599 29,975,920 21,919,051
Deposits 7 400,000 110,000 - - - - 560,000 385,000 2,850,000 1,950,000 1,600,000 1,080,000 350,000 50,000
Other current assets 8 6,189,129 1,261,383 11,041,700 9,346,080 2,776,630 1,017,959 2,449,708 1,757,641 638,548 1,130,354 3,823,389 1,914,526 2,994,660 1,314,664
49,357,783 18,596,300 189,263,130 161,526,731 22,107,223 13,138,803 72,248,411 31,935,644 21,273,315 20,638,888 23,737,846 26,218,125 33,320,580 23,283,715

132
Partner Bapi Munshi T.C. Nair Chandresh Kumar Nigam U.R. Bhat
Membership No. 37924 Director Director Managing Director & CEO Director
per Jayesh Gandhi
Jinesh Gopani Shreyash Devalkar Viresh Joshi

Head-Equity & Fund Manager Fund Manager-Equity Fund Manager-Equity
Anupam Tiwari
Fund Manager-Equity
Place: Mumbai R. Sivakumar Devang Shah

Date: May 28, 2019 Head-Fixed Income & Fund Manager Fund Manager-Fixed Income
Revenue Account
AXIS AXIS LONG AXIS LONG AXIS AXIS
AXIS BLUECHIP BLUECHIP TERM EQUITY TERM EQUITY AXIS MIDCAP AXIS MIDCAP AXIS FOCUSED AXIS FOCUSED ARBITRAGE ARBITRAGE AXIS DYNAMIC AXIS DYNAMIC AXIS MULTICAP AXIS MULTICAP
FUND FUND FUND FUND FUND FUND 25 FUND 25 FUND FUND FUND EQUITY FUND EQUITY FUND FUND FUND
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 August 01, 2017 April 01, 2018 November 20, 2017
to to to to to to to to to to to to to to
Schedule
INCOME AND GAINS
Dividend 2(d) 165,069 126,909 1,105,294 815,195 82,474 79,925 262,244 77,949 107,586 38,659 133,562 37,924 156,552 6,723
Interest 2(d) & 9 325,907 89,827 467,283 366,626 149,760 39,672 373,995 90,471 600,219 340,441 672,442 446,087 389,376 217,887
Profit on sale/redemption of investments (including F&O), net 2(d) 1,379,907 3,234,284 8,287,951 21,581,719 1,397,759 2,154,036 - 2,303,363 - 1,378,673 339,831 423,548 - -
Profit on inter-scheme transfer/sale of investments, net - - - - - - 136 - - - - - - -
Load Income 15,076 7,676 - - 10,839 7,091 65,777 47,277 363 141 26,574 32,009 32,837 11,428
Other Income 5 17 26 45 4 10 9 6 1 # 1 - 2 21
Net change in marked to market in value of investments 2(c) & 6(ii) 2,653,808 130,297 7,891,795 2,287,219 265,240 320,119 3,809,652 427,444 1,372,989 (909,596) 938,573 365,457 3,602,318 124,887
Total 4,539,772 3,589,010 17,752,349 25,050,804 1,906,076 2,600,853 4,511,813 2,946,510 2,081,158 848,318 2,110,983 1,305,025 4,181,085 360,946
EXPENSES AND LOSSES
Loss on sale/redemption of investments (including F&O), net 2(d) - - - - - - 977,575 - 656,001 - - - 210,675 63,969
Loss on inter-scheme transfer/sale of investments, net 2(d) 1,128 454 8,811 9,569 1,073 1,619 - - 8,168 2,898 94,360 44,761 20,285 16,915
Management fee 10 337,663 360,047 2,072,518 2,582,057 206,460 244,954 604,714 394,677 83,878 63,019 334,005 314,025 327,913 160,465
Service Tax / GST on Management Fees 60,780 62,151 373,054 447,306 37,162 42,329 108,848 69,012 15,098 11,038 60,120 56,524 59,024 28,884
Trusteeship fee 10 199 128 1,163 1,013 108 86 373 146 140 84 170 115 186 69
Investor education expense 6,000 3,733 34,871 29,403 3,254 2,514 11,242 4,166 4,201 2,378 5,097 3,234 5,570 1,646
Custodian service charges 1,363 2,388 7,896 18,673 745 1,615 2,404 2,656 981 1,538 1,160 2,078 1,250 1,047
Registrar service charges 13,624 16,314 109,609 106,078 7,719 11,731 40,806 17,851 7,341 7,697 15,313 10,109 17,904 5,419
Commission to distributors 199,862 22,669 878,769 334,548 106,182 18,446 459,785 136,631 30,764 - 178,429 48,038 220,513 24,487
Audit fee 686 384 1,070 800 318 313 579 246 272 242 572 236 268 236
133
Marketing expenses 586 - 2,892 34 22 - 319 - 25 - 118 - 166 -
Listing fee 419 137 1,157 544 411 151 265 28 3,357 5 222 39 376 -
Other operating expenses 19,312 10,998 70,212 46,410 11,798 8,876 29,707 11,031 3,365 5,513 4,638 2,933 10,003 1,426
Less: Expenses reimbursed/to be reimbursed by AMC - (11,683) - (6,380) - (963) - (76,362) - (3) - (5) - (1)
Total 641,622 467,720 3,562,022 3,570,055 375,252 331,671 2,236,617 560,082 813,591 94,409 694,204 482,087 874,133 304,562
Surplus /(Deficit) for the year/period 3,898,150 3,121,290 14,190,327 21,480,749 1,530,824 2,269,182 2,275,196 2,386,428 1,267,567 753,909 1,416,779 822,938 3,306,952 56,384
Transfer from / (to) unrealised appreciation reserve (2,653,808) (130,297) (7,891,795) (2,287,219) (265,240) (320,119) (3,809,652) (427,444) (598,360) 134,967 (938,573) (365,457) (3,602,318) (124,887)
Equalisation (debit) / credit 2(e) 7,467,482 (477,635) 3,427,903 2,938,140 1,439,358 (322,975) 6,812,839 3,726,097 786,709 969,050 (109,859) (9,534) (89,144) 1,194
Transfer from retained surplus 214,286 174,848 1,050,763 123,011 104,484 101,206 222,916 6,463 282,002 - - - - -
Dividend distribution (250,036) (239,718) (1,710,654) (2,139,239) (92,510) (101,206) (343,200) (301,230) (629,025) (589,968) - - - -
Dividend distribution tax on dividend distribution (32,361) - (221,409) - (11,974) - (44,418) - (81,410) - - - - -
Surplus /(Deficit) transferred to the retained surplus 4 8,643,713 2,448,488 8,845,135 20,115,442 2,704,942 1,626,088 5,113,681 5,390,314 1,027,483 1,267,958 368,347 447,947 (384,510) (67,309)

per Jayesh Gandhi

Anupam Tiwari
Fund Manager-Equity

Cash Flow Statement

AXIS BLUECHIP AXIS BLUECHIP AXIS LONG TERM AXIS LONG TERM AXIS MIDCAP AXIS MIDCAP AXIS FOCUSED 25 AXIS FOCUSED 25 AXIS ARBITRAGE AXIS ARBITRAGE AXIS DYNAMIC AXIS DYNAMIC
Particulars FUND FUND EQUITY FUND EQUITY FUND FUND FUND FUND FUND FUND FUND EQUITY FUND EQUITY FUND
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 August 01, 2017
to to to to to to to to to to to to
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Net Surplus / (Deficit) for the year/period 3,898,150 3,121,290 14,190,327 21,480,749 1,530,824 2,269,182 2,275,196 2,386,428 1,267,567 753,909 1,416,779 822,938
Adjustments for:-
Change in provision for net unrealised loss in value of
investments (2,653,808) (130,297) (7,891,795) (2,287,219) (265,240) (320,119) (3,809,652) (427,444) (1,372,989) 909,596 (938,573) (365,457)
(Increase)/Decrease in investments at cost (21,452,245) 675,757 (16,601,830) (31,587,385) (6,932,151) (205,314) (35,847,249) (17,968,215) (813,095) (12,430,940) 5,091,783 (22,856,681)
(Increase)/Decrease in other current assets 14,335 (14,347) (18,604) (47,871) (86) 743 70,236 (43,198) 273,971 (636,188) 193,877 (354,094)
Increase/(Decrease) in current liabilities 70,124 991 37,828 104,534 11,723 7,396 85,024 40,786 128,806 (6,189) 8,534 88,380
(Increase)/Decrease in deposits (290,000) (60,000) - - - - (175,000) (385,000) (900,000) (1,420,000) (520,000) (1,080,000)
Net cash used in operations (A) (20,413,444) 3,593,394 (10,284,074) (12,337,192) (5,654,930) 1,751,888 (37,401,445) (16,396,643) (1,415,740) (12,829,812) 5,252,400 (23,744,914)

Increase/(Decrease) in unit capital 9,715,719 (1,697,737) 3,996,664 3,991,738 2,120,662 (436,865) 14,158,651 7,196,865 1,265,259 11,351,610 (3,314,934) 24,798,855
Increase/(Decrease) in unit premium reserve 16,198,602 (1,956,228) 13,269,493 11,538,558 5,373,342 (722,629) 24,311,433 10,414,169 804,575 1,447,887 (285,018) 45,528
Adjustments for:-
redeemed by investors 40,565 243 (27,124) 290,557 (10,264) (6,485) 81,253 75,784 (84,061) 187,695 20,492 61,591
(Increase)/Decrease in subscription receivable for
units issued to investors (27,042) (2,793) (403,618) 68,024 (14,892) (1,670) 7,314 (16,035) 2,917 (7,146) 2,333 (4,161)
Dividend paid (including tax thereon) (282,372) (239,714) (1,932,347) (2,138,946) (104,478) (101,206) (387,589) (301,232) (710,441) (602,868) - -
Net cash generated from financing activities (B) 25,645,472 (3,896,229) 14,903,068 13,749,931 7,364,370 (1,268,855) 38,171,062 17,369,551 1,278,249 12,377,178 (3,577,127) 24,901,813
Net Increase/(Decrease) in cash and cash equivalents (A+B) 5,232,028 (302,835) 4,618,994 1,412,739 1,709,440 483,033 769,617 972,908 (137,491) (452,634) 1,675,273 1,156,899
134
Cash and Cash Equivalents as at the beginning of the year/period 918,066 1,220,901 5,590,445 4,177,706 1,011,141 528,108 1,659,262 686,354 233,720 686,354 1,156,899 -
Cash and Cash Equivalents as at the close of the year/period 6,150,094 918,066 10,209,439 5,590,445 2,720,581 1,011,141 2,428,879 1,659,262 96,229 233,720 2,832,172 1,156,899
Component of cash and cash equivalents March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Balances with banks in current accounts 177,835 240,497 1,055,810 921,533 45,259 176,743 98,631 251,128 26,533 128,955 13,419 138,750
Collateralised lending, Reverse Repo and Tri-Party Repo 5,972,259 677,569 9,153,629 4,668,912 2,675,322 834,398 2,330,248 1,408,134 69,696 104,765 2,818,753 1,018,149
Total 6,150,094 918,066 10,209,439 5,590,445 2,720,581 1,011,141 2,428,879 1,659,262 96,229 233,720 2,832,172 1,156,899
per Jayesh Gandhi

Anupam Tiwari
Fund Manager-Equity

Schedules to the financial statements for the year ended March 31, 2019
1. BACKGROUND
In accordance with the Securities and Exchange Board of India ('SEBI') (Mutual Funds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of Axis Mutual Fund Trustee
Limited ('the Trustee') has appointed Axis Asset Management Company Limited ('the AMC') to manage the Fund's affairs and operate its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset ManagementCompany Limited and the balance 25% plus one equity
share is held by Schroders Investment Management (Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroders Singapore Holdings Private Limited (SSHPL), both
subsidiaries of Schroders plc.
Scheme Name Type of Scheme Investment objective of the Scheme NFO Open Plans
NFO Close
Axis Bluechip Fund An open ended equity To achieve long term capital appreciation by investing in November 11, 2009 Growth
{"formerly known as "Axis Equity scheme predominantly a diversified portfolio predominantly consisting of equity to Dividend
Fund"}# investing in large cap stocks and equity related securities including December 8, 2009 Direct Growth
derivatives.However, there can be no assurance that Direct Dividend
the investment objective of the Scheme will be
achieved.
Axis Long Term Equity Fund An open ended equity linked The investment objective of the Scheme is to generate December 17, 2009 Growth
saving scheme with a income and long-term capitalappreciation from a to Dividend
statutory lock in of 3 years diversified portfolio of predominantly equity and equity- December 21, 2009 Direct Growth
and tax benefit. related Securities. However, there can be no assurance Direct Dividend
that the investment objective of the Scheme will be
achieved.
Axis Midcap Fund An open ended equity To achieve long term capital appreciation by investing January 31, 2011 Growth
scheme predominantly predominantly in equity & equity related instruments of to Dividend
investing in Mid Cap stocks Mid Cap companies. February 14, 2011 Direct Growth
Direct Dividend
Axis Focused 25 Fund An open ended equity To generate long term capital appreciation by investing June 11, 2012 Growth
scheme investing in in a concentrated portfolio of equity & equity related to Dividend
maximum 25 stocks instruments of up to 25 companies. June 25, 2012 Direct Growth
investing in large cap, mid
cap and small cap Direct Dividend
companies.
Axis Arbitrage Fund An open ended scheme To generate income through low volatility absolute July 25, 2014 Growth
{"formerly known as "Axis investing in arbitrage return strategies that take advantage of opportunities in to Dividend
Enhanced Arbitrage Fund"}# opportunities the cash and the derivative segments of the equity August 8, 2014 Direct Growth
markets including the arbitrage opportunities available Direct Dividend
within the derivative segment, by using other derivative
based strategies and by investing the balance in debt
and money market instruments. However, there is no
assurance or guarantee that the investment objective of
the Scheme will be achieved. The Scheme does not
assure or guarantee any returns.
Axis Dynamic Equity Fund An open ended dynamic To generate capital appreciation by investing in a July 11, 2017 Growth
asset allocation fund. portfolio of equity or equity linked securities while to Dividend
secondary objective is to generate income through July 25, 2017 Direct Growth
investments in debt and money market instruments. It Direct Dividend
also aims to manage risk through active asset
allocation. However, there is no assurance or guarantee
achieved. The Scheme does not assure or guarantee
any returns.
Axis Multicap Fund An open-ended equity To generate long term capital appreciation by investing October 30, 2017 Growth
scheme in a diversified portfolio of equity and equity related to Dividend
instruments across market capitalization. However, November 13, 2017 Direct Growth
there is no assurance or guarantee that the investment Direct Dividend
objective of the Scheme will be achieved.
# Pursuant to SEBI Circulars dated October 6, 2017 and December 4, 2017 on schemes Categorization and Rationalization, name of the schemes have been changed w.e.f. May 18,
2018.
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each other, or are interdependentor
comparable in any way.
135
Schedules to the financial statements for the year ended March 31, 2019 (Contd.)

The financial statements are prepared on the accrual basis of accounting, under the historical cost convention,as modified for investments, which are ‘marked-to-market’. The significant
accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the AMC and the Trustee, are stated below.

The net asset value of the units are determined separately for the units issued under the Plans.
For reporting the net asset value within the portfolio, the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the value of investments, and
expenses accrued, are allocated to the related plans in proportion to their respective daily net assets arrived at by multiplying day-end outstanding units by previous day's closing NAV.

Unit capital represents the net outstanding units at the balance sheet date, thereby reflecting all transactions relating to the year ended on that date.
Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve of each Plan.
(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction costs, CCIL charges and any
other charges customarily included in the broker’s note. Capitalisation of such brokerage and transaction costs incurred for the purpose of execution of trades is restricted to 12 bps in
case of cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of the specified limit is charged to the revenue account of the scheme as part of the
total expense ratio.
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest receivable and debited to
'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is credited to ‘Accrued Income Account’.
Investments in equity and equity related securities which have traded during a period of thirty days (prior to the balance sheet date) are stated at the closing prices on the balance sheet
date or the last trading day before the balance sheet date, as may be applicable, on The National Stock Exchange of India Limited (principal stock exchange). When on a particular
valuation day, a security has not been traded on the principal stock exchange, the value at which it is traded on The Bombay Stock Exchange Limited is used.
Options / futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not availableon valuationdate on the
respective stock exchange, settlement price is considered for valuation. Futures contracts, which are going to expire on valuation date are valued at settlement price.
Non traded and thinly traded equity shares / warrants, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as determined by the AMC
under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
Units of listed mutual fund schemes, which are traded, are valued at the closing traded price on the respective stock exchange (where the scheme is listed) as on the valuation date. Units
of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published on AMFI website as on the valuation date.
Government securities (including State Development Loans) are valued at the average of the prices released by CRISIL and ICRA, as suggested by AMFI,on the basis of the valuation
principles laid down by SEBI.
Treasury Bills (including cash management bills) with residual maturity greater than 60 days, are valued at the average of the prices released by CRISIL and ICRA, as suggested by AMFI,
on the basis of the valuation principles laid down by SEBI. The difference between last traded/valued price and next business day's (T+1) aggregated price received from CRISIL and
ICRA is amortised linearly upto the day preceding the next business day.
Treasury bills (including cash management bills) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes managed by the AMC. If
there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost based on purchase price or last traded
market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the
reference yields providedby the Valuation Agencies (CRISIL and ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the price within
the ±0.10% band.
All debt securities with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes managed by the AMC. If there are no trades done by
schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost based on purchase price or last traded market price, which includes
discount / premium accrued on a straight line basis over the period to maturity as long as the valuationis within a ±0.10% band of the price derived as per the reference yields providedby
the Valuation Agencies (CRISIL and ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.
All debt securities with residual maturity greater than 60 days, are valued using the simple average of the prices released by CRISIL and ICRA, as suggested by AMFI. In case of new
purchases which are not a part of the list of CRISIL and ICRA security level pricing, such securities are valued at weighted average cost/yield on the day of purchase.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two balance sheet dates is
recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.

When units are issued or redeemed, the distributablesurplus (excluding unit premium reserve, but including balance of distributablesurplus at the beginning of the year) as on the date of
the transaction is determined. Based on the number of units outstanding on the transaction date, the distributable surplus (excluding unit premium reserve, but including balance of
distributable surplus at the beginning of the year) associated with each unit is computed. The per unit amount so determined is credited / debited to the equalisation account on issue /
redemption of each unit respectively.
(f) Load
(g) Cash and cash equivalent

Cash and cash equivalents include balances with banks in current accounts, deposits placed with scheduled banks (with an original maturity of up to three months) and collateralised
lending/Tri-Party Repo (including reverse repurchase transactions).
(h) Cash Flow Statements
136
3. Unit Capital
AXIS BLUECHIP FUND AXIS BLUECHIP FUND AXIS LONG TERM EQUITY FUND AXIS LONG TERM EQUITY FUND
Initial Capital 909,055,512.453 9,090,555 909,055,512.453 9,090,555 1,397,300.000 13,974 1,397,300.000 13,974

RG Growth
RG Outstanding, beginning of year/period 639,349,653.603 6,393,496 711,371,929.391 7,113,719 3,202,127,994.419 32,021,280 2,885,302,049.692 28,853,021
RG Issued
RG -new fund offer
RG -during the year/period 787,830,138.867 7,878,301 153,695,045.489 1,536,950 726,506,123.999 7,265,061 733,137,625.120 7,331,376
RG Redeemed during the year/period 140,546,062.004 1,405,461 225,717,321.277 2,257,173 473,844,735.460 4,738,447 416,311,680.393 4,163,117
RG Outstanding, end of year/period 1,286,633,730.466 12,866,336 639,349,653.603 6,393,496 3,454,789,382.958 34,547,894 3,202,127,994.419 32,021,280
RD Dividend
RD Outstanding, beginning of year/period 117,623,834.051 1,176,238 145,126,775.775 1,451,267 838,596,870.924 8,385,970 839,162,299.882 8,391,624
RD Issued
137
RD -new fund offer
RD -during the year/period 88,561,176.393 885,612 20,179,569.297 201,796 124,146,026.018 1,241,460 138,111,195.245 1,381,112
RD Redeemed during the year/period 27,278,075.842 272,781 47,682,511.021 476,825 134,586,405.761 1,345,864 138,676,624.203 1,386,766
RD Outstanding, end of year/period 178,906,934.602 1,789,069 117,623,834.051 1,176,238 828,156,491.181 8,281,566 838,596,870.924 8,385,970
ZG Direct Growth
ZG Outstanding, beginning of year/period 35,211,292.403 352,113 103,203,390.851 1,032,034 261,209,866.137 2,612,100 187,467,693.791 1,874,678
ZG Issued
ZG -new fund offer
ZG -during the year/period 268,035,871.391 2,680,359 8,629,447.668 86,294 163,048,942.523 1,630,489 79,318,176.237 793,182
ZG Redeemed during the year/period 19,713,661.391 197,137 76,621,546.116 766,215 15,385,401.830 153,854 5,576,003.891 55,760
ZG Outstanding, end of year/period 283,533,502.403 2,835,335 35,211,292.403 352,113 408,873,406.830 4,088,735 261,209,866.137 2,612,100
ZD Direct Dividend
ZD Outstanding, beginning of year/period 5,479,511.005 54,794 7,976,165.765 79,761 29,522,408.831 295,225 26,148,184.874 261,482
ZD Issued
ZD -new fund offer
ZD -during the year/period 14,929,059.132 149,291 2,235,737.701 22,357 7,276,965.336 72,770 4,939,653.921 49,397
ZD Redeemed during the year/period 3,180,248.775 31,802 4,732,392.461 47,324 4,043,810.706 40,438 1,565,429.964 15,654
ZD Outstanding, end of year/period 17,228,321.362 172,283 5,479,511.005 54,794 32,755,563.461 327,557 29,522,408.831 295,225
Total
Issued
-new fund offer
-during the year/period 1,159,356,245.783 11,593,563 184,739,800.155 1,847,397 1,020,978,057.876 10,209,780 955,506,650.523 9,555,067
Outstanding, end of year/period 1,766,302,488.833 17,663,023 797,664,291.062 7,976,641 4,724,574,844.430 47,245,752 4,331,457,140.311 43,314,575
AXIS MIDCAP FUND AXIS MIDCAP FUND AXIS FOCUSED 25 FUND AXIS FOCUSED 25 FUND
Initial Capital 166,132,528.548 1,661,326 166,132,528.548 1,661,326 250,115,254.495 2,501,153 250,115,254.495 2,501,153

Growth
Outstanding, beginning of year/period 338,218,452.086 3,382,184 366,830,883.678 3,668,308 1,110,084,665.852 11,100,848 474,281,624.936 4,742,817
Issued
-new fund offer
-during the year/period 191,832,103.014 1,918,321 90,724,457.582 907,245 1,711,827,260.751 17,118,273 975,323,671.080 9,753,237
Redeemed during the year/period 63,920,206.686 639,202 119,336,889.174 1,193,369 522,862,410.213 5,228,624 339,520,630.164 3,395,206
Dividend
Outstanding, beginning of year/period 38,653,994.292 386,542 56,622,085.128 566,223 151,094,714.113 1,510,946 88,683,246.792 886,832
Issued
138
-new fund offer
-during the year/period 13,452,330.195 134,523 5,952,532.222 59,525 114,283,760.600 1,142,838 100,878,321.656 1,008,783
Redeemed during the year/period 7,555,205.222 75,552 23,920,623.058 239,206 59,352,861.927 593,529 38,466,854.335 384,669
Direct Growth
Outstanding, beginning of year/period 23,715,138.713 237,152 21,032,661.307 210,327 32,523,213.340 325,232 5,681,827.243 56,818
Issued
-new fund offer
-during the year/period 96,839,849.435 968,398 7,777,191.811 77,772 184,182,985.418 1,841,830 30,978,622.488 309,786
Redeemed during the year/period 21,707,643.729 217,076 5,094,714.405 50,947 17,799,287.970 177,993 4,137,236.391 41,372
Outstanding, end of year/period 98,847,344.419 988,474 23,715,138.713 237,152 198,906,910.788 1,989,069 32,523,213.340 325,232
Direct Dividend
Issued
-new fund offer
-during the year/period 2,712,899.221 27,129 449,785.419 4,498 9,011,378.207 90,114 3,172,557.003 31,726
Outstanding, end of year/period 3,414,512.037 34,144 930,542.289 9,304 9,950,865.359 99,509 3,840,452.039 38,405
Total
Outstanding, beginning of year/period 401,518,127.380 4,015,182 445,325,262.614 4,453,253 1,297,543,045.344 12,975,431 579,412,460.742 5,794,125
Issued
-new fund offer
-during the year/period 304,837,181.865 3,048,371 104,903,967.034 1,049,040 2,019,305,384.976 20,193,055 1,110,353,172.227 11,103,532
Redeemed during the year/period 93,411,985.110 934,119 148,711,102.268 1,487,111 602,915,524.997 6,029,156 392,222,587.625 3,922,226
AXIS ARBITRAGE FUND AXIS ARBITRAGE FUND AXIS DYNAMIC EQUITY FUND AXIS DYNAMIC EQUITY FUND AXIS MULTICAP FUND AXIS MULTICAP FUND
Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up
Quantity Amount Quantity Amount Quantity Amount Quantity Amount Quantity Amount Quantity Amount
(Rs. in 000's) (Rs. in 000's) (Rs. in 000's) (Rs. in 000's) (Rs. in 000's) (Rs. in 000's)
Initial Capital 55,114,925.730 551,149 55,114,925.730 551,149 2,088,857,400.800 20,888,575 2,088,857,400.800 20,888,575 2,185,272,898.500 21,852,729 2,185,272,898.500 21,852,729

Growth
Outstanding, beginning of year/period 355,106,494.441 3,551,064 45,358,030.027 453,579 2,198,687,414.247 21,986,874 - - 2,033,884,213.553 20,338,842 - -
Issued
-new fund offer 1,900,746,354.200 19,007,464 1,939,906,232.100 19,399,062
-during the year/period 393,435,718.074 3,934,357 532,280,470.561 5,322,805 798,027,280.577 7,980,273 641,048,513.406 6,410,485 1,163,275,503.885 11,632,755 219,530,808.048 2,195,308
Redeemed during the year/period 273,165,078.517 2,731,651 222,532,006.147 2,225,320 1,042,938,654.518 10,429,387 343,107,453.359 3,431,075 676,786,324.307 6,767,863 125,552,826.595 1,255,528
Outstanding, end of year/period 475,377,133.998 4,753,770 355,106,494.441 3,551,064 1,953,776,040.306 19,537,760 2,198,687,414.247 21,986,874 2,520,373,393.131 25,203,734 2,033,884,213.553 20,338,842
Dividend
Outstanding, beginning of year/period 670,789,773.101 6,707,897 282,607,419.806 2,826,073 253,773,605.570 2,537,736 - - 233,764,721.898 2,337,647 - -
Issued
-new fund offer 171,342,993.000 1,713,430 230,809,143.900 2,308,091
-during the year/period 426,356,411.789 4,263,564 1,255,794,574.687 12,557,946 26,112,154.850 261,122 115,757,589.250 1,157,576 40,359,954.924 403,600 13,338,980.274 133,390
Redeemed during the year/period 645,696,849.247 6,456,968 867,612,221.392 8,676,122 129,984,412.721 1,299,844 33,326,976.680 333,270 79,487,473.960 794,875 10,383,402.276 103,834
Outstanding, end of year/period 451,449,335.643 4,514,493 670,789,773.101 6,707,897 149,901,347.699 1,499,014 253,773,605.570 2,537,736 194,637,202.862 1,946,372 233,764,721.898 2,337,647
Direct Growth
Outstanding, beginning of year/period 98,014,300.700 980,143 41,589,281.664 415,892 24,334,387.118 243,344 - - 19,050,741.296 190,508 - -
139
Issued
-new fund offer 15,381,185.200 153,812 13,064,572.400 130,646
-during the year/period 295,993,299.160 2,959,933 137,615,850.798 1,376,159 25,489,649.611 254,896 10,253,634.492 102,536 176,502,737.955 1,765,027 6,844,966.814 68,450
Redeemed during the year/period 149,968,323.744 1,499,683 81,190,831.762 811,908 7,890,636.854 78,906 1,300,432.574 13,004 66,382,832.760 663,828 858,797.918 8,588
Outstanding, end of year/period 244,039,276.116 2,440,393 98,014,300.700 980,143 41,933,399.875 419,334 24,334,387.118 243,344 129,170,646.491 1,291,707 19,050,741.296 190,508
Direct Dividend
Outstanding, beginning of year/period 504,436,887.401 5,044,369 129,272,362.238 1,292,724 2,137,990.639 21,380 - - 1,857,209.771 18,573 - -
Issued
-new fund offer 1,386,868.400 13,869 1,492,950.100 14,930
-during the year/period 1,203,480,706.847 12,034,807 1,566,590,249.598 15,665,902 815,594.203 8,156 966,809.353 9,668 61,963,240.549 619,632 496,581.942 4,966
Redeemed during the year/period 1,119,415,307.054 11,194,153 1,191,425,724.435 11,914,257 441,861.497 4,419 215,687.114 2,157 765,827.781 7,658 132,322.271 1,323
Outstanding, end of year/period 588,502,287.194 5,885,023 504,436,887.401 5,044,369 2,511,723.345 25,117 2,137,990.639 21,380 63,054,622.539 630,547 1,857,209.771 18,573
Total
Outstanding, beginning of year/period 1,628,347,455.643 16,283,473 498,827,093.735 4,988,268 2,478,933,397.574 24,789,334 - - 2,288,556,886.518 22,885,570 - -
Issued
-new fund offer - - 2,088,857,400.800 20,888,575 - - 2,185,272,898.500 21,852,729
-during the year/period 2,319,266,135.870 23,192,661 3,492,281,145.644 34,922,812 850,444,679.241 8,504,447 768,026,546.501 7,680,265 1,442,101,437.313 14,421,014 240,211,337.078 2,402,114
Redeemed during the year/period 2,188,245,558.562 21,882,455 2,362,760,783.736 23,627,607 1,181,255,565.590 11,812,556 377,950,549.727 3,779,506 823,422,458.808 8,234,224 136,927,349.060 1,369,273
Outstanding, end of year/period 1,759,368,032.951 17,593,679 1,628,347,455.643 16,283,473 2,148,122,511.225 21,481,225 2,478,933,397.574 24,789,334 2,907,235,865.023 29,072,360 2,288,556,886.518 22,885,570
Rupees in '000
AXIS AXIS LONG AXIS LONG AXIS AXIS AXIS

AXIS BLUECHIP BLUECHIP TERM EQUITY TERM AXIS MIDCAP AXIS MIDCAP AXIS FOCUSED AXIS FOCUSED ARBITRAGE ARBITRAGE AXIS DYNAMIC AXIS DYNAMIC MULTICAP AXIS MULTICAP
FUND FUND FUND EQUITY FUND FUND FUND 25 FUND 25 FUND FUND FUND EQUITY FUND EQUITY FUND FUND FUND

Balance, beginning of year/period 775,680 2,254,273 56,628,153 48,027,735 2,667,708 3,067,362 9,038,193 2,350,121 527,063 48,226 55,062 - 5,431 -
Net premium/discount on issue/redemption of units 16,198,602 (1,956,228) 13,269,493 11,538,558 5,373,342 (722,629) 24,311,433 10,414,169 804,575 1,447,887 (285,018) 45,528 542,088 6,625
Transferred to equalisation (7,467,482) 477,635 (3,427,903) (2,938,140) (1,439,358) 322,975 (6,812,839) (3,726,097) (786,709) (969,050) 109,859 9,534 89,144 (1,194)
Balance, end of year/period 9,506,800 775,680 66,469,743 56,628,153 6,601,692 2,667,708 26,536,787 9,038,193 544,929 527,063 (120,097) 55,062 636,663 5,431
Balance, beginning of year/period 3,753,883 3,623,586 16,121,629 13,834,410 2,716,642 2,396,523 1,998,331 1,570,887 - 134,967 365,457 - 124,887 -
Change in unrealised appreciation in value of investments 2,653,808 130,297 7,891,795 2,287,219 265,240 320,119 3,809,652 427,444 598,360 (134,967) 938,573 365,457 3,602,318 124,887
Balance, end of year/period 6,407,691 3,753,883 24,013,424 16,121,629 2,981,882 2,716,642 5,807,983 1,998,331 598,360 - 1,304,030 365,457 3,727,205 124,887
Retained surplus
Balance, beginning of year/period 5,995,750 3,722,110 42,934,380 22,941,949 3,672,505 2,147,623 7,525,246 2,141,395 1,503,801 235,843 447,947 - (67,309) -
Transferred to revenue account (214,286) (174,848) (1,050,763) (123,011) (104,484) (101,206) (222,916) (6,463) (282,002) - - - - -
Surplus/(deficit) transferred from revenue account 8,643,713 2,448,488 8,845,135 20,115,442 2,704,942 1,626,088 5,113,681 5,390,314 1,027,483 1,267,958 368,347 447,947 (384,510) (67,309)
Balance, end of year/period 14,425,177 5,995,750 50,728,752 42,934,380 6,272,963 3,672,505 12,416,011 7,525,246 2,249,282 1,503,801 816,294 447,947 (451,819) (67,309)
Total reserves 30,339,668 10,525,313 141,211,919 115,684,162 15,856,537 9,056,855 44,760,781 18,561,770 3,392,571 2,030,864 2,000,227 868,466 3,912,049 63,009
The share of the plans in the reserves and surplus is as follows:
140
RG Growth 23,533,040 9,398,872 116,628,901 97,111,563 12,317,065 7,907,477 39,321,758 16,815,683 1,606,585 936,521 1,806,949 767,453 3,347,771 54,741
RD Dividend 903,908 525,940 8,587,113 9,253,169 589,479 527,417 1,445,775 1,137,083 219,408 327,020 138,612 88,582 258,618 6,365
ZG Direct Growth 5,790,435 570,188 15,120,156 8,582,169 2,886,617 605,067 3,824,234 545,836 951,450 296,638 51,578 11,429 205,600 1,738
ZD Direct Dividend 112,285 30,313 875,749 737,261 63,376 16,894 169,014 63,168 615,128 470,685 3,088 1,002 100,060 165
30,339,668 10,525,313 141,211,919 115,684,162 15,856,537 9,056,855 44,760,781 18,561,770 3,392,571 2,030,864 2,000,227 868,466 3,912,049 63,009
Amount due to AMC
- Management fees 14,793 21,450 59,447 152,752 5,059 19,101 18,114 43,588 2,002 8,629 13,572 41,333 14,872 34,718
- Others 70 - - 66,885 - 3,584 - - 89 - 14 15,851 - 3,711
Trusteeship fee payable 21 10 84 90 10 7 32 17 10 11 11 14 15 13
- Lateral shift payable 29,506 4,643 28,986 21,309 5,033 6,596 34,104 11,977 7,598 4,958 18,775 6,445 37,286 803
- Others 72,775 57,073 338,333 373,134 24,021 32,722 162,085 102,959 120,227 206,928 63,308 55,146 75,856 35,454
Interscheme payable 13,901 1,154 - - - - 3,181 - - 20 885 13,764 - 288
Contract for purchase of investments 1,120,695 - - 1,798,442 46,611 - - 211,201 - 2,037,278 74,701 400,833 128,928 244,425
Audit fee payable 292 330 302 605 14 275 294 220 25 220 294 216 232 216
Registrar service fees payable 151 1,205 - 8,703 140 875 793 2,000 635 1,057 548 1,241 277 1,174
Dividend payable on units 63 38 10 294 6 - 29 - - 6 - - - -
MTM margin payable - - - - - - - - 127,479 - 23,155 - - -
Unit application pending allotment 33,344 4,007 147,008 81,521 7,739 1,329 15,539 20,787 12,658 57,605 2,696 9,521 15,888 5,711
Commission to distributors payable 62,089 737 210,474 5,095 29,864 416 104,366 357 5,849 - 47,651 210 56,174 397
Custody fees payable 221 199 884 1,711 104 140 341 333 111 222 121 279 156 245
Investor education expense payable 768 314 3,086 2,696 352 218 1,190 524 370 344 400 432 540 386
Other current liabilities 6,403 3,186 16,845 14,757 2,299 1,503 8,232 4,480 10,012 7,273 10,263 15,040 5,947 7,595
1,355,092 94,346 805,459 2,527,994 121,252 66,766 348,300 398,443 287,065 2,324,551 256,394 560,325 336,171 335,136
6. INVESTMENTS
Equity shares 42,768,654 16,261,728 178,219,135 151,128,700 19,330,593 12,120,844 64,598,138 29,273,237 14,482,799 12,057,176 15,225,744 16,809,547 28,966,698 18,260,051
Equity warrants - - - - - - - 519,766 - - - - - 215,257
Privately placed / unlisted debentures and bonds - - - - - - - - 176,589 170,668 373,197 1,189,520 247,907 152,587
Listed debentures and bonds - 348,916 2,295 952,687 - - - - 1,995,399 4,643,939 2,715,516 4,174,255 761,315 2,749,536
Certificates of deposit - 614,273 - - - - - - 93,991 248,738 - - - -
Commercial paper - - - 99,264 - - 4,640,565 - 1,035,989 438,013 - 487,299 - 537,002
Options - - - - - - - - - - - 54,285 - -
Government securities (including treasury bills) - - - - - - - - - - - 508,693 - 4,618
INVESTMENTS 42,768,654 17,224,917 178,221,430 152,180,651 19,330,593 12,120,844 69,238,703 29,793,003 17,784,767 17,558,534 18,314,457 23,223,599 29,975,920 21,919,051
(ii) Aggregate appreciation and depreciation in the value of investments are as follows:
Rupees in '000
Equity shares
- appreciation 6,466,348 3,974,247 29,659,161 18,661,330 3,085,080 2,860,652 7,234,467 2,865,135 1,049,082 132,754 2,026,829 1,073,634 4,138,235 605,126
- depreciation 58,657 220,246 5,648,032 2,546,909 103,198 144,010 1,426,483 883,523 203,897 974,975 498,661 682,926 397,004 463,728
- appreciation - - - - - - - - 353 178 - - 1,545 -
- depreciation - - - - - - - - 941 775 3,138 9,932 - 1,013
- appreciation - 133 2,295 7,783 - - - - 3,657 3,064 4,980 3,185 - 4,654
- depreciation - 1,235 - 575 - - - - 5,980 7,885 38,344 38,623 15,571 6,514
- appreciation - 984 - - - - - - 256 37 - - - -
- depreciation - - - - - - - - - - - - - -
Commercial paper
- appreciation - - - - - - - - 738 638 - 408 - 408
- depreciation - - - - - - 1 - 95 - - 213 - 174
Futures
- appreciation - - - - - - - - 811 113,337 3,737 71,148 - -
- depreciation - - - - - - - - 245,624 41,002 191,373 44,391 - -
Options
- appreciation - - - - - - - - - - - - - -
- depreciation - - - - - - - - - - - 974 - -
141
Equity warrants
- appreciation - - - - - - - 16,719 - - - - - -
- depreciation - - - - - - - - - - - - - 13,919
- appreciation - - - - - - - - - - - - - 47
- depreciation - - - - - - - - - - - 5,858 - -
Rupees in '000

- amount 59,540,044 31,736,615 210,208,778 253,664,503 15,904,234 12,606,441 112,830,212 37,986,797 81,511,257 64,062,271 30,017,539 56,574,605 35,618,665 56,310,195
- as a percentage of average daily net assets 198.46% 170.04% 120.57% 172.55% 97.75% 100.31% 200.74% 182.36% 388.09% 538.70% 117.79% 232.96% 127.88% 247.46%
Purchases at notional value (index / stock futures)
- amount 4,645,568 5,440,174 - - - 230,498 21,647,506 7,851,748 183,890,722 102,374,410 71,538,826 37,786,266 3,641,929 253,334
- as a percentage of average daily net assets 15.48% 29.15% - - - 1.83% 38.51% 37.69% 875.55% 860.87% 280.72% 155.60% 13.08% 1.11%
- amount - - - - - - - - - - - 55,231 - -
- as a percentage of average daily net assets - - - - - - - - - - - 0.23% - -
Sales (excluding collateralised lending/Tri-Party Repo, fixed deposits,
futures and options)
- amount 38,035,647 35,642,798 192,290,682 241,577,474 10,362,276 14,465,505 76,387,420 22,095,976 81,592,803 51,187,263 36,471,669 33,975,503 30,909,867 34,486,711
Sales/Expiry at notional value (index / stock futures)
- amount 4,678,987 5,511,102 - - - 225,601 21,544,717 7,755,937 187,029,885 111,684,704 72,871,235 43,977,004 3,718,405 239,598
- as a percentage of average daily net assets 15.60% 29.53% - - - 1.80% 38.33% 37.23% 890.49% 939.16% 285.94% 181.09% 13.35% 1.05%
- amount - - - - - - - - - - 6,513 - - -
- as a percentage of average daily net assets - - - - - - - - - - 0.03% - - -
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year and the fair value of such investments as at March 31, 2019 in companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in
Attachment 1.
Rupees in '000

(v) Aggregate fair value of non traded investments valued in good
faith - 963,189 2,295 1,051,951 - - 4,640,565 - 3,301,968 5,501,358 3,088,713 5,851,074 1,009,222 3,439,125
Rupees in '000

7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) 400,000 110,000 - - - - 560,000 385,000 2,850,000 1,950,000 1,600,000 1,080,000 350,000 50,000
400,000 110,000 - - - - 560,000 385,000 2,850,000 1,950,000 1,600,000 1,080,000 350,000 50,000

Balances with banks in current accounts 177,835 240,497 1,055,810 921,533 45,259 176,743 98,631 251,128 26,533 128,955 13,419 138,750 52,189 131,911
- Lateral shift receivable 15,120 3,557 17,700 7,537 9,489 2,439 10,390 12,791 669 309 785 623 13,613 3,681
- Others 20,252 4,773 597,883 204,428 12,026 4,184 8,178 13,091 3,869 7,146 1,043 3,538 13,061 5,816
Interscheme receivable - - 68,508 11,095 281 179 - 1,900 2,500 - - - 397 -
142
Contracts for sale of investments - 316,989 147,478 3,493,074 34,253 - - - 395,640 473,067 829,172 399,372 68,884 268,197
Outstanding and accrued income 3,606 12,556 1 39,401 - - 1,957 4,975 139,641 272,149 160,217 294,282 55,058 77,104
Amount due from AMC - 5,442 2 - - - 136 65,539 - 3 - - - -
MTM margin receivable - - - - - - - - - 143,880 - 59,722 - -
Collateralised lending, Reverse Repo and Tri-Party Repo 5,972,259 677,569 9,153,629 4,668,912 2,675,322 834,398 2,330,248 1,408,134 69,696 104,765 2,818,753 1,018,149 2,791,458 827,875
Other current assets 57 - 689 100 - 16 168 83 - 80 - 90 - 80
6,189,129 1,261,383 11,041,700 9,346,080 2,776,630 1,017,959 2,449,708 1,757,641 638,548 1,130,354 3,823,389 1,914,526 2,994,660 1,314,664
9. INTEREST
Money market instruments 35,721 14,343 71,237 109,237 3,402 444 50,992 - 144,638 84,276 55,825 21,923 26,923 24,368
Debentures and bonds 19,463 15,409 54,405 90,556 8,531 4,534 12,973 - 189,751 141,417 393,585 303,964 166,793 93,234
Fixed Deposits 17,178 8,315 6,114 1,215 921 950 31,531 9,962 168,751 70,099 83,369 33,524 11,220 1,997
Government securities (including treasury bills) 2,115 - 13,041 6,855 412 41 8,925 451 3,755 - 21,711 30,239 4,946 15,180
Collateralised lending / Tri-Party Repo 251,430 51,760 322,486 158,763 136,494 33,703 269,574 80,058 93,324 44,649 117,952 56,437 179,494 83,108
325,907 89,827 467,283 366,626 149,760 39,672 373,995 90,471 600,219 340,441 672,442 446,087 389,376 217,887

Management fee (excluding Service Tax/GST) at annualised average
rate 1.13% 1.93% 1.19% 1.76% 1.27% 1.95% 1.08% 1.90% 0.40% 0.53% 1.31% 1.94% 1.18% 1.95%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject
to the ceiling of 0.10% per annum on average net assets of all the schemes.

Income (net off realised loss on sale of investment and excluding net
change in marked to market in value of investments)
- amount 1,884,836 3,458,259 9,851,743 22,754,016 1,639,763 2,279,115 (275,414) 2,519,066 44,000 1,755,016 1,078,050 894,807 347,807 155,175
- as a percentage of average daily net assets 6.28% 18.53% 5.65% 15.48% 10.08% 18.13% -0.49% 12.09% 0.21% 14.76% 4.23% 5.53% 1.25% 1.89%
- amount 640,494 467,266 3,553,211 3,560,486 374,179 330,052 1,259,042 560,082 149,422 91,511 599,844 437,326 643,173 223,678
143


Axis Liquid Fund Axis Equity Advantage Fund - Series 1
Axis Treasury Advantage Fund Axis Nifty ETF
Axis Short Term Fund Axis Corporate Debt Fund
Axis Triple Advantage Fund Axis Capital Builder Fund - Series 1 (1540 Days)
Axis Gold ETF Axis Fixed Term Plan – Series 92 (154 Days)
144
Axis Strategic Bond Fund Axis Equity Hybrid Fund
Axis Credit Risk Fund Axis Ultra Short Term Fund
Axis Capital Protection Oriented Fund - Series 5 Axis Hybrid Fund - Series 26 (1276 Days)

Rupees in '000
AXIS BLUECHIP FUND AXIS LONG TERM EQUITY FUND AXIS MIDCAP FUND
Axis Mutual Fund Trustee Limited Fees for trusteeship services 199 128 23 11 1,163 1,013 92 98 108 86 11 8
Axis Asset Management Company Limited Service Tax/GST) 398,443 422,198 14,793 21,470 2,445,572 3,029,363 59,447 152,882 243,622 287,283 5,059 19,117
Axis Asset Management Company Limited Receivable for other expenses - - - 5,442 - - 2 - - - - -
Axis Asset Management Company Limited Payable for other expenses - - 70 - - - - 66,885 - - - 3,584
Axis Bank Limited Purchase of securities - 270,000 - - - - - - - 30,000 - -
Axis Bank Limited Sale of securities - - - - 523,196 - - - - - - -
Axis Liquid Fund Purchase of securities 1,000,000 - - - - - - - - - - -
Axis Liquid Fund Sale of securities 1,000,214 - - - - - - - - - - -
Axis Asset Management Company Limited Redemption of units at NAV - - - - - - - - - - - -
Axis Bank Limited Subscription of units at NAV 7,049 - 6,770 - - - - - - - - -
Axis Bank Limited Redemption of units at NAV 35 - - - - - - - - - - -
Rupees in '000
AXIS FOCUSED 25 FUND AXIS ARBITRAGE FUND AXIS DYNAMIC EQUITY FUND
Year ended Year ended Balance as at Balance as at Year ended Year ended Balance as at Balance as at Year ended Period ended Balance as at Balance as at
Axis Asset Management Company Limited Service Tax/GST) 713,562 463,689 18,114 43,625 98,976 74,057 2,002 8,636 394,125 370,549 13,572 41,368
Axis Asset Management Company Limited Receivable for other expenses - - 136 65,539 - - - 3 - - - -
145
Axis Asset Management Company Limited Payable for other expenses - - - - - - 89 - - - 14 15,851
Axis Bank Limited Purchase of securities - 615,000 - - 2,290,000 - - 595,696 1,372,178 - -
Axis Bank Limited Sale of securities - - - - 166,022 - - 52,630 - -
Axis Asset Management Company Limited Subscription of units at NAV - - 8,385 7,685 - - 6,949 6,512 - 5,000 5,615 5,235
Axis Bank Limited Subscription of units at NAV - - - - 51 - 52 - - - - -
Axis Securities Limited Subscription of units at NAV - - - - - - - - 610 10 - 10
Axis Securities Limited Redemption of units at NAV - - - - - - - - 620 -
Rupees in '000
AXIS MULTICAP FUND
Year ended Period ended Balance as at Balance as at
Name of related party Nature of transactions March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Axis Mutual Fund Trustee Limited Fees for trusteeship services 186 69 16 14
Axis Asset Management Company Limited Service Tax/GST) 386,937 189,349 14,872 34,748
Axis Asset Management Company Limited Receivable for other expenses - - - -
Axis Asset Management Company Limited Payable for other expenses - - - 3,711
Axis Bank Limited Purchase of securities 349,628 50,000 - -
Axis Bank Limited Sale of securities 362,750 250,163 - -
Axis Liquid Fund Purchase of securities 1,000,000 - - -
Axis Liquid Fund Sale of securities 1,000,214 - - -
Axis Asset Management Company Limited Subscription of units at NAV - 5,000 5,795 5,045
Axis Securities Limited Subscription of units at NAV 2,555 10 - 10
Axis Securities Limited Redemption of units at NAV 2,564 -
Rupees in '000
AXIS LONG AXIS AXIS AXIS AXIS AXIS AXIS AXIS AXIS
their relatives of AMC (Nature of relation) AXIS BLUECHIP AXIS LONG TERM AXIS MIDCAP
AXIS BLUECHIP FUND TERM EQUITY AXIS MIDCAP FUND FOCUSED 25 FOCUSED 25 ARBITRAGE ARBITRAGE DYNAMIC DYNAMIC MULTICAP MULTICAP
FUND EQUITY FUND FUND
FUND FUND FUND FUND FUND EQUITY FUND EQUITY FUND FUND FUND
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended Year ended Period ended
Professional clearing member charges 141 215 - - - 10 608 332 4,080 4,482 1,693 1,694 156 10
Bank charges 1,436 1,636 2,198 2,369 784 1,006 4,593 3,773 64 41 214 127 355 100
Commission paid on distribution of units * 44,631 7,193 376,127 204,347 10,639 2,546 224,644 116,443 1,718 25 96,906 27,268 84,818 20,236

Employee)
Commission paid on distribution of units 12 3 84 20 15 6 80 23 - - - - 8 -
Florine Rodrigues Thakkar (Relative of AMC

Employee)
Commission paid on distribution of units - - 1 - - - - - - - - - - -
Mr. Sunil P Shah (Relative of AMC Employee)

Commission paid on distribution of units - - # - - - - - - - - - - -
Mrs. Urvi Mahendra Dedhia (Relative of AMC

Employee)
Commission paid on distribution of units # - 1 - # - 2 - - - - - 2 -
Commission paid on distribution of units 3,885 1,308 6,120 1,339 1,225 231 6,604 1,563 48 -# 315 16 633 14
146
Brokerage on trades 1,615 2,455 9,814 5,153 652 1,327 4,180 2,970 2,609 1,202 5,332 4,301 1,351 1,439
# Amount less than Rs. 0.5 thousand - - - - -
F.Y. 2018-2019: NIL
F.Y. 2017-2018
7.39% LIC Hsg Fin Ltd Ser
Axis Dynamic Equity Fund 30-Aug-17 Corporate Bond 348 Opt 1 NCD (30/08/22) 250,000
Axis Bank Limited 7.95% LIC Hsg Fin Ltd
NCD (29/01/28) (Put
Axis Multicap Fund 29-Jan-18 Corporate Bond 27/08/2021) 350,000
Central Depository
Axis Midcap Fund 16-Jun-17 Equity Shares Services (India) Limited 50,004
Axis Bluechip Fund SBI Life Insurance
19-Sep-17 Equity Shares Company Limited 250,003
SBI Life Insurance
Axis Dynamic Equity Fund 19-Sep-17 Equity Shares Company Limited 189,998
Axis Capital Limited
Axis Long Term Equity Fund 14-Aug-17 Equity Shares Quess Corp Limited 700,000
Axis Focused 25 Fund 14-Aug-17 Equity Shares Quess Corp Limited 100,000
S Chand & Company
Axis Long Term Equity Fund 28-Apr-17 Equity Shares Limited 48,365
S Chand & Company
Axis Focused 25 Fund 28-Apr-17 Corporate Bond Limited 7,253
13. Investments made during the year in the sponsor company and its group companies at cost Rupees in '000
Name of sponsor company and its group AXIS LONG AXIS LONG
AXIS BLUECHIP AXIS BLUECHIP AXIS MIDCAP AXIS MIDCAP AXIS FOCUSED AXIS FOCUSED AXIS ARBITRAGE AXIS ARBITRAGE AXIS DYNAMIC AXIS DYNAMIC AXIS MULTICAP AXIS MULTICAP
companies TERM EQUITY TERM EQUITY
FUND FUND FUND FUND 25 FUND 25 FUND FUND FUND EQUITY FUND EQUITY FUND FUND FUND
FUND FUND
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended Year ended Period ended
Axis Bank Limited *
Investment made by the Scheme - 270,000 - - - 30,000 - 615,000 19,518 2,290,000 - 920,000 - 50,000
Investment made by other schemes 19,656 4,980,231 19,656 5,250,231 19,656 5,220,231 19,656 4,635,231 138 2,960,231 19,656 4,330,231 19,656 5,200,231
Total investments 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231
14. Derivatives disclosure


AXIS LONG AXIS LONG
TERM EQUITY TERM EQUITY
Options FUND FUND
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
RG Growth 28.29 24.70 43.7586 40.3272 36.42 33.38 27.10 25.15 13.3796 12.6373 10.92 10.35 11.33 10.03
RD Dividend 15.05 14.47 20.3690 21.0341 23.23 23.64 17.02 17.53 10.4860 10.4875 10.92 10.35 11.33 10.03
ZG Direct Growth 30.42 26.19 46.9800 42.8555 39.20 35.51 29.23 26.78 13.8988 13.0265 11.23 10.47 11.59 10.09
ZD Direct Dividend 16.52 15.53 36.7359 34.9729 28.56 28.16 26.98 26.45 11.0452 10.9331 11.23 10.47 11.59 10.09
The net asset value of the Scheme’s units are determined separately for units issued under the plans/options after including the respective unit capital and reserves and surplus.
147
Contingent liabilities as on March 31, 2019: Nil (Previous year - Nil).

The schemes operate in one segment only viz. to primarily generate attractive returns based on investment objectives of the Scheme.

There were no transactions in credit default swaps during the year ended March 31, 2019.(Previous year - Nil).

Rupees in '000
AXIS LONG AXIS LONG
TERM EQUITY TERM EQUITY
Particulars FUND FUND
Total Reserves 30,339,668 10,525,313 141,211,919 115,684,162 15,856,537 9,056,855 44,760,781 18,561,770 3,392,571 2,030,864 2,000,227 868,466 3,912,049 63,009
6,407,691 3,753,883 24,013,424 16,121,629 2,981,882 2,716,642 5,807,983 1,998,331 598,360 - 1,304,031 365,457 3,727,205 124,887
Net premium/discount
at plan level on issue/redemption of units 9,506,800 796,338 66,469,744 56,628,153 6,601,692 2,671,711 26,536,786 9,038,194 551,060 527,064 13,463 55,061 667,225 5,442
Distributable Surplus 14,425,177 5,975,092 50,728,751 42,934,380 6,272,963 3,668,502 12,416,012 7,525,245 2,243,151 1,503,800 682,733 447,948 (482,381) (67,320)
In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside towards
IEAI has been transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) / Treps (Tri-Party Repo).

Rupees in '000
Rupees in '000
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
Unclaimed dividend and redemption gets transferred from schemes to separate pool account and is maintained separately. This disclosure has been carried out in the financial statements for
all the schemes at pool level.
148
The prior period figures for Axis Dynamic Equity Fund and Axis Multicap Fund are for a period of less than one year and hence are not comparable to the current year.
per Jayesh Gandhi

Anupam Tiwari
Fund Manager-Equity

To the Trustees of
Axis Mutual Fund – Axis Capital Builder Fund - Series 1 (1540 Days)
Opinion
We have audited the accompanying financial statements of Axis Capital Builder Fund - Series 1 (1540 Days) (“the
Scheme”), which comprise the Balance sheet as at March 31, 2019, the Revenue Account and the Cash Flow
Statement for the year then ended, and notes to the financial statements, including a summary of significant
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
financial statements of the Scheme give a true and fair view in conformity with the accounting principles generally
accepted in India, including the accounting policies and standards specified in the Ninth Schedule to the Securities
and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended (“the SEBI Regulations”):
(a) in the case of the Revenue Account, of the surplus for the year ended on that date; and
(b) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit of the financial statements in accordance with the Standards on Auditing (SAs) issued by
the Institute of Chartered Accountants of India (‘ICAI’). Our responsibilities under those Standards are further
described in the ‘Auditor’s Responsibilities for the Audit of the Financial Statements’ section of our report. We
are independent of the Scheme in accordance with the ‘Code of Ethics’ issued by ICAI together with the ethical
requirements that are relevant to our audit of the financial statements, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of
the financial statements for the financial year ended March 31, 2019. These matters were addressed in the context
of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a
separate opinion on these matters. For each matter below, our description of how our audit addressed the matter
is provided in that context.
We have determined the matters described below to be the key audit matters to be communicated in our report.
We have fulfilled the responsibilities described in the Auditor’s responsibilities for the audit of the financial
statements section of our report, including in relation to these matters. Accordingly, our audit included the
performance of procedures designed to respond to our assessment of the risks of material misstatement of the
financial statements. The results of our audit procedures, including the procedures performed to address the
matters below, provide the basis for our audit opinion on the accompanying financial statements.
149
Key audit matters How our audit addressed the key audit matter
Information Technology systems and controls
As a Mutual Fund, the reliability of IT systems Our audit procedures focused on the IT infrastructure and
plays a key role in the business operations. applications relevant to financial reporting including:
Since large volume of transactions are • Assessing the information systems used by the Fund for:
processed, the IT controls are required to (i) IT General Controls (ITGC) and (ii) Application
ensure that systems process data as expected controls;
and that changes are made in an appropriate • The aspects covered in the IT systems General Control
manner. audit were (i) User Access Management (ii) Program
Change Management (iii) Other related ITGCs; - to
The IT infrastructure is critical for smooth understand the design and test the operating
functioning of the Fund’s business operations effectiveness of such controls in the system;
as well as for timely and accurate financial • Understanding of the changes that were made to the IT
accounting and reporting. landscape during the audit period and assessing changes
that have impact on financial reporting;
Due to the pervasive nature and complexity of • Tested controls (including other compensatory controls
the IT environment and large volume of wherever applicable) on the IT application controls and
transactions we have considered IT systems IT dependent manual controls in the system;
and controls as a key audit matter. • Testing the design and operating effectiveness of
compensating controls in case of deficiencies were
Our audit procedures focused on testing of IT identified and, where necessary, extended the scope of
systems, IT general controls and specific our substantive audit procedures.
application controls.
In addition, we understood where relevant, changes were made
to the IT landscape during the audit period and tested those
changes that had a significant impact on financial reporting.
Existence and Valuation of investments
The investments held by the Scheme as at We performed the following procedures in relation to
March 31, 2019 mainly comprised of listed existence and valuation of investments
equity shares, listed and unlisted debt • Assessed the design and implementation of controls over
instruments and options. valuation and existence of investments.
• On a sample basis, tested the key controls set up by
There is a risk on existence of investments and Management on existence and valuation of Investments
that the fair value of investment not determined • Traced the quantity held from the confirmation provided
appropriately. Accordingly, the existence and by Custodian with the books as at March 31, 2019
valuation of investments is considered as a key • Tested the valuation of the investments as per the
audit matter. investment valuation policy approved by the trustees and
in accordance with the SEBI (Mutual Funds) Regulations
Information Other than the Financial Statements and Auditor’s Report Thereon
The Management of the Axis Asset Management Company Limited is responsible for the other information. The
other information comprises the information included in the Trustee report, but does not include the financial
statements and our auditor’s report thereon.
Our opinion on the financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so, consider whether such other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information, we are required to report
that fact. We have nothing to report in this regard.
150
The Management of Axis Asset Management Company Limited (hereinafter referred to as ‘the AMC’), the
Scheme’s asset manager, is responsible for the preparation of these financial statements that give a true and fair
view of the financial position, financial performance and cash flows of the Scheme in accordance with accounting
principles generally accepted in India, including the accounting policies and standards specified in the Ninth
Schedule to the SEBI Regulations. This responsibility includes maintenance of adequate accounting records in
accordance with the SEBI regulations, the design, implementation and maintenance of internal controls relevant
to the preparation and presentation of the financial statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Scheme’s ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis
of accounting unless management either intends to liquidate the Scheme or to cease operations, or has no realistic
alternative but to do so.
Those Charged with Governance are also responsible for overseeing the Scheme’s financial reporting process.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error
and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may
cast significant doubt on the Scheme’s ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the
financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based
on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions
may cause the Scheme to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.
We communicate with the management of the AMC, among other matters, the planned scope and timing of the
audit and significant audit findings, including any significant deficiencies in internal control that we identify
during our audit.
We also provide to the management of the AMC with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.
151
From the matters communicated with those charged with governance, we determine those matters that were of
most significance in the audit of the financial statements for the financial year ended March 31, 2019 and are
therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes
public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should
not be communicated in our report because the adverse consequences of doing so would reasonably be expected
to outweigh the public interest benefits of such communication.
1. As required by regulation 55(4) and clause 5(ii)(2) of the Eleventh Schedule of the SEBI Regulations, we
report that:
(a) We have sought and obtained all the information and explanations which, to the best of our knowledge
and belief were necessary for the purposes of our audit;
(b) In our opinion, the balance sheet and revenue account dealt with by this report have been prepared in
conformity with the accounting policies and standards specified in the Ninth Schedule to the SEBI
Regulations.
(c) The balance sheet, the revenue account and the cash flow statement, dealt with by this report are in
agreement with the books of accounts of the Scheme.
(a) In our opinion, and on the basis of information and explanations given to us, the methods used to value
non-traded securities as at March 31, 2019 are in accordance with the SEBI Regulations and other
guidelines approved by the Board of Directors of the Axis Mutual Fund Trustee Limited, and are fair
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
152
To the Trustees of
Axis Mutual Fund – Axis Emerging Opportunities Fund - Series 1 (1400 Days)
Opinion
We have audited the accompanying financial statements of Axis Emerging Opportunities Fund - Series 1 (1400
Days) (“the Scheme”), which comprise the Balance sheet as at March 31, 2019, the Revenue Account and the
Cash Flow Statement for the year then ended, and notes to the financial statements, including a summary of
Basis for Opinion
Key Audit Matters
153
instruments and fixed deposit. valuation and existence of investments.
appropriately. Accordingly, the existence and by Custodian/Bank with the books as at March 31, 2019
154
internal control.
during our audit.
155
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
156
To the Trustees of
Axis Mutual Fund – Axis Emerging Opportunities Fund - Series 2 (1400 Days)
Opinion
We have audited the accompanying financial statements of Axis Emerging Opportunities Fund - Series 2 (1400
Days) (“the Scheme”), which comprise the Balance sheet as at March 31, 2019, the Revenue Account and the
Cash Flow Statement for the year then ended, and notes to the financial statements, including a summary of
Basis for Opinion
Key Audit Matters
157
158
internal control.
during our audit.
159
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
160
To the Trustees of
Axis Mutual Fund – Axis Equity Advantage Fund - Series 1
Opinion
We have audited the accompanying financial statements of Axis Equity Advantage Fund - Series 1 (“the
Basis for Opinion
Key Audit Matters
161
instruments, options and fixed deposit. valuation and existence of investments.
162
internal control.
during our audit.
163
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
164
To the Trustees of
Axis Mutual Fund – Axis Equity Advantage Fund - Series 2
Opinion
We have audited the accompanying financial statements of Axis Equity Advantage Fund - Series 2 (“the
Basis for Opinion
Key Audit Matters
165
equity shares and options. • Assessed the design and implementation of controls over
valuation and existence of investments.
There is a risk on existence of investments and • On a sample basis, tested the key controls set up by
that the fair value of investment not determined Management on existence and valuation of Investments
appropriately. Accordingly, the existence and • Traced the quantity held from the confirmation provided
valuation of investments is considered as a key by Custodian with the books as at March 31, 2019
audit matter. • Tested the valuation of the investments as per the
investment valuation policy approved by the trustees and
166
internal control.
during our audit.
167
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
168
To the Trustees of
Axis Mutual Fund – Axis Equity Saver Fund
Opinion
We have audited the accompanying financial statements of Axis Equity Saver Fund (“the Scheme”),
Basis for Opinion
to fraud or error.
process.
169
safeguards.
170

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
171
Balance Sheet
AXIS EMERGING AXIS EMERGING AXIS EMERGING AXIS EMERGING AXIS EQUITY AXIS EQUITY AXIS EQUITY AXIS CAPITAL AXIS CAPITAL
AXIS EQUITY
AXIS EQUITY SAVER AXIS EQUITY OPPORTUNITIE OPPORTUNITIES OPPORTUNITIES OPPORTUNITIES ADVANTAGE ADVANTAGE ADVANTAGE BUILDER FUND - BUILDER
ADVANTAGE
FUND SAVER FUND S FUND - SERIES FUND - SERIES 1 FUND - SERIES 2 FUND - SERIES 2 FUND - SERIES FUND - SERIES FUND - SERIES SERIES 1 (1540 FUND - SERIES
FUND - SERIES 1
1 (1400 DAYS) (1400 DAYS) (1400 DAYS) (1400 DAYS) 1 2 2 DAYS) 1 (1540 DAYS)
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 6,118,875 5,512,959 4,811,021 4,811,021 10,613,286 10,613,286 8,515,977 8,515,977 861,059 861,059 4,422,392 4,422,492
Reserves and surplus 2(b) & 4 1,481,749 816,855 1,056,032 948,562 2,030,174 1,733,570 1,181,860 627,117 81,193 7,300 23,671 8,714
Current liabilities 5 35,259 48,297 9,797 9,806 20,100 19,013 15,645 16,754 2,068 1,730 8,000 118,804
7,635,883 6,378,111 5,876,850 5,769,389 12,663,560 12,365,869 9,713,482 9,159,848 944,320 870,089 4,454,063 4,550,010
Investments 2(c), 6 & 23 6,820,297 6,009,308 5,751,601 5,582,453 12,414,204 11,854,893 7,050,969 8,631,080 661,792 683,036 3,939,787 1,564,688
Deposits 7 500,000 250,000 20,000 40,000 30,000 30,000 50,000 - 3,000 - - -
Other current assets 8 315,586 118,803 105,249 146,936 219,356 480,976 2,612,513 528,768 279,528 187,053 514,276 2,985,322
7,635,883 6,378,111 5,876,850 5,769,389 12,663,560 12,365,869 9,713,482 9,159,848 944,320 870,089 4,454,063 4,550,010

172
Jinesh Gopani Shreyash Devalkar Anupam Tiwari

Ashish Naik
Fund Manager-Equity
Place: Mumbai R. Sivakumar Aditya Pagaria

Revenue Account
AXIS EMERGING AXIS EMERGING AXIS EMERGING AXIS EMERGING AXIS CAPITAL AXIS CAPITAL
AXIS EQUITY AXIS EQUITY AXIS EQUITY AXIS EQUITY
AXIS EQUITY AXIS EQUITY OPPORTUNITIES OPPORTUNITIES OPPORTUNITIES OPPORTUNITIES BUILDER FUND - BUILDER FUND -
ADVANTAGE FUND - ADVANTAGE FUND - ADVANTAGE ADVANTAGE
SAVER FUND SAVER FUND FUND - SERIES 1 FUND - SERIES 1 FUND - SERIES 2 FUND - SERIES 2 SERIES 1 (1540 SERIES 1 (1540
SERIES 1 SERIES 1 FUND - SERIES 2 FUND - SERIES 2
(1400 DAYS) (1400 DAYS) (1400 DAYS) (1400 DAYS) DAYS) DAYS)
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 May 25, 2017 April 01, 2018 August 03, 2017 April 01, 2018 March 08, 2018
Schedule
INCOME AND GAINS
Dividend 2(d) 32,996 28,440 37,376 32,722 78,135 68,372 44,298 28,773 4,313 1,787 25,877 105
Interest 2(d) & 9 203,908 170,554 25,694 18,229 61,243 71,898 214,747 215,768 18,261 13,144 71,708 17,855
Profit on sale/redemption of investments (including F&O), net 2(d) 102,199 699,296 222,554 595,170 808,883 241,747 134,566 - 1,335 - - -
Profit on inter-scheme transfer/sale of investments, net - 12,428 - - - - - - - - - -
Load Income 4,951 6,609 - - - - - - - - - -
Other Income 8 1 - - - - - - - - - -
Net change in marked to market in value of investments 2(c) & 6(ii) 406,420 (234,243) (34,345) 274,716 (376,939) 1,405,436 433,443 595,206 75,623 10,977 71,161 (571)
Total 750,482 683,085 251,279 920,837 571,322 1,787,453 827,054 839,747 99,532 25,908 168,746 17,389
EXPENSES AND LOSSES
Loss on sale/redemption of investments (including F&O), net 2(d) - - - - - - - 1,910 - 1,933 28,748 32
Loss on inter-scheme transfer/sale of investments, net 2(d) 309 - 2,901 2,573 2,175 1,069 54,414 3,110 - - 13,894 -
Management fee 10 123,731 143,124 83,166 118,856 151,768 227,405 124,987 150,854 15,845 13,648 66,401 6,339
Service Tax / GST on Management Fees 22,272 24,571 14,970 20,552 27,318 39,322 22,498 26,637 2,852 2,456 11,952 1,142
Trusteeship fee 10 48 43 38 38 83 82 64 56 6 4 29 3
Investor education expense 1,454 1,270 1,144 1,120 2,474 2,386 1,904 1,522 184 114 874 58
Custodian service charges 332 839 276 772 589 1,628 447 1,036 47 81 205 37
Registrar service charges 2,383 4,280 2,927 2,955 6,271 6,298 4,766 4,027 474 302 2,184 171
173
Commission to distributors 37,271 10,546 37,971 - 83,121 - 62,393 22,721 6,065 - 29,042 871
Audit fee 267 250 129 125 133 134 132 118 127 118 129 118
Marketing expenses 9 7 - - - - - - - - - -
Listing fee 108 24 76 78 210 212 139 109 19 12 77 4
Other operating expenses 1,579 1,978 211 189 576 390 567 530 20 22 254 7
Less: Expenses reimbursed/to be reimbursed by AMC - (1,073) - (1) - (1) - - - (82) - (107)
Total 189,763 185,859 143,809 147,257 274,718 278,925 272,311 212,630 25,639 18,608 153,789 8,675
Surplus / (Deficit) for the year/period 560,719 497,226 107,470 773,580 296,604 1,508,528 554,743 627,117 73,893 7,300 14,957 8,714
Transfer from / (to) unrealised appreciation reserve (406,420) 234,243 34,345 (274,716) 376,939 (1,405,436) (433,443) (595,206) (75,623) (10,977) (70,589) -
Equalisation (debit) / credit 2(e) 151,096 (120,635) - - - - - - - - - -
Transfer from retained surplus 71,836 63,873 - 3,172 - - - - - - - -
Dividend distribution (87,237) (114,224) - (78,678) - - - - - - - -
Dividend distribution tax on dividend distribution (11,291) - - - - - - - - - - -
Surplus / (Deficit) transferred to the retained surplus 4 278,703 560,483 141,815 423,358 673,543 103,092 121,300 31,911 (1,730) (3,677) (55,632) 8,714
Ashish Naik
Fund Manager-Equity

Cash Flow Statement

OPPORTUNITIES OPPORTUNITIES OPPORTUNITIES OPPORTUNITIES AXIS EQUITY AXIS EQUITY AXIS EQUITY AXIS EQUITY BUILDER FUND - BUILDER FUND -
AXIS EQUITY AXIS EQUITY FUND - SERIES 1 FUND - SERIES 1 FUND - SERIES 2 FUND - SERIES 2 ADVANTAGE FUND ADVANTAGE FUND - ADVANTAGE FUND - ADVANTAGE FUND - SERIES 1 (1540 SERIES 1 (1540
Particulars SAVER FUND SAVER FUND (1400 DAYS) (1400 DAYS) (1400 DAYS) (1400 DAYS) - SERIES 1 SERIES 1 SERIES 2 SERIES 2 DAYS) DAYS)
Net Surplus / (Deficit) for the year/period 560,719 497,226 107,470 773,580 296,604 1,508,528 554,743 627,117 73,893 7,300 14,957 8,714
Adjustments for:-
investments (406,420) 234,243 34,345 (274,716) 376,939 (1,405,436) (433,443) (595,206) (75,623) (10,977) (71,161) 571
(Increase)/Decrease in investments at cost (413,691) 827,143 (203,493) (1,774,678) (936,250) (5,123,602) 2,179,883 (8,214,507) 119,584 (694,776) (2,412,615) (1,456,582)
(Increase)/Decrease in other current assets 26,005 (17,716) 659 270 1,376 14,049 75,372 (76,078) 48 (82) 8,417 (12,668)
Increase/(Decrease) in current liabilities 10,123 (18,077) (9) 4,457 1,087 7,969 (1,109) 16,754 338 1,730 (2,127) 10,127
(Increase)/Decrease in deposits (250,000) 20,000 20,000 110,000 - 220,000 (50,000) - (3,000) - - -
Net cash used in operations (A) (473,264) 1,542,819 (41,028) (1,161,087) (260,244) (4,778,492) 2,325,446 (8,241,920) 115,240 (696,805) (2,462,529) (1,449,838)

Increase/(Decrease) in unit capital 603,990 (1,322,869) - - - - - 8,515,977 - 861,059 (100) 4,422,492
Increase/(Decrease) in unit premium reserve 202,703 (157,712) - - - - - - - - - -
Adjustments for:-
Increase in unit pending allotment
redeemed by investors (21,219) (11,174) - - - - - - - - - -
174
units issued to investors 1,911 (3,049) - - - - - - - - - -
Dividend paid (including tax thereon) (98,544) (114,239) - (78,677) - - - - - - - -
Net cash generated from financing activities (B) 688,841 (1,609,043) - (78,677) - - - 8,515,977 - 861,059 (100) 4,422,492
Net Increase/(Decrease) in cash and cash equivalents (A+B) 215,577 (66,224) (41,028) (1,239,764) (260,244) (4,778,492) 2,325,446 274,057 115,240 164,254 (2,462,629) 2,972,654
Cash and Cash Equivalents as at the beginning of the year/period 24,281 90,505 145,680 1,385,444 478,665 5,257,157 274,057 - 164,254 - 2,972,654 -
Cash and Cash Equivalents as at the close of the year/period 239,858 24,281 104,652 145,680 218,421 478,665 2,599,503 274,057 279,494 164,254 510,025 2,972,654
Balances with banks in current accounts 11,774 23,563 11 33 23 100,085 240 35,625 24 117 49 654
Collateralised lending / Tri-Party Repo 228,084 718 104,641 145,647 218,398 378,580 2,599,263 238,432 279,470 164,137 509,976 2,972,000
Total 239,858 24,281 104,652 145,680 218,421 478,665 2,599,503 274,057 279,494 164,254 510,025 2,972,654
Ashish Naik
Fund Manager-Equity

1. BACKGROUND
NFO Close
Axis Equity Saver Fund An open ended scheme The investment objective of the scheme is to provide July 27, 2015 Growth
investing in equity, arbitrage capital appreciation and income distribution to the to Monthly Dividend
and debt. investors by using equity and equity related August 10, 2015 Quarterly Dividend
instruments, arbitrage opportunities, and investments Regular Dividend
in debt and money market instruments. However, Direct Growth
there is no assurance or guarantee that the Direct Monthly Dividend
investment objective of the Scheme will be achieved. Direct Quarterly Dividend
The Scheme does not assure or guarantee any Direct Regular Dividend
returns.
Axis Emerging Opportunities Fund An Close Ended equity The scheme aims to generate long term capital December 09, 2016 Growth
- Series 1 (1400 Days) scheme appreciation by investing in a diversified portfolio of to Dividend
equity & equity related instruments of midcap December 23, 2016 Direct Growth
companies. However, there is no assurance or Direct Dividend
guarantee that the investment objective of the Scheme
will be achieved. The Scheme does not assure or
guarantee any returns.
Axis Emerging Opportunities Fund An Close Ended equity The scheme aims to generate long term capital February 03, 2017 Growth
- Series 2 (1400 Days) scheme appreciation by investing in a diversified portfolio of to Dividend
equity & equity related instruments of midcap February 17, 2017 Direct Growth
companies. However, there is no assurance or Direct Dividend
Axis Equity Advantage Fund - An Close Ended equity To generate capital appreciation over medium to long- May 05, 2017 Growth
Series 1 scheme term from a diversified portfolio of predominantly to Direct Growth
equity & equity related instruments. It also aims to May 19, 2017
manage risk through use of active hedging
techniques. However, there is no assurance or
Axis Equity Advantage Fund - An Close Ended equity To generate capital appreciation over medium to long- July 14, 2017 Growth
Series 2 scheme term from a diversified portfolio of predominantly to Direct Growth
equity & equity related instruments. It also aims to July 28, 2017
manage risk through use of active hedging
techniques. However, there is no assurance or
Axis Capital Builder Fund - Series An Close Ended equity To generate income and long term capital appreciation February 16, 2018 Growth
1 (1540 Days) scheme by investing in a diversified portfolio of equity & equity to Dividend
related instruments across market capitalisation. March 1, 2018 Direct Growth
However, there is no assurance or guarantee that the Direct Dividend
investment objective of the Scheme will be achieved.
The Scheme does not assure or guarantee any
returns.

Unit capital represents the net outstanding units at the balance sheet date, thereby reflecting all transactions relating to the period/year ended on that date.
175
(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage,transaction costs, CCIL charges and any other
charges customarily included in the broker’s note. Capitalisation of such brokerageand transaction costs incurred for the purpose of execution of trades is restricted to 12 bps in case of
cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of the specified limit is charged to the revenue account of the scheme as part of the total
expense ratio.
on the basis of the valuationprinciples laid down by SEBI. The difference between last traded/valuedprice and next business day's (T+1) aggregatedprice received from CRISIL and ICRA
is amortised linearly upto the day preceding the next business day.
Treasury bills (including cash management bills) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes managed by the AMC.If
market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuationis within a ±0.10% band of the price derived as per the
the ±0.10% band.
discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields providedby


In case of open ended schemes, when units are issued or redeemed, the distributable surplus (excluding unit premium reserve, but including balance of distributable surplus at the
beginningof the year) as on the date of the transaction is determined. Based on the number of units outstanding on the transaction date, the distributable surplus (excluding unit premium
reserve, but including balance of distributable surplus at the beginning of the year) associated with each unit is computed. The per unit amount so determined is credited / debited to the
equalisation account on issue / redemption of each unit respectively.
(f) Load
176
3. Unit Capital
AXIS EMERGING OPPORTUNITIES AXIS EMERGING OPPORTUNITIES
AXIS EQUITY SAVER FUND AXIS EQUITY SAVER FUND FUND - SERIES 1 (1400 DAYS) FUND - SERIES 1 (1400 DAYS)
Initial Capital 1,117,603,598.695 11,176,036 1,117,603,598.695 11,176,036 481,102,033.000 4,811,021 481,102,033.000 4,811,021
Growth
RG Outstanding, beginning of year/period 385,364,428.623 3,853,644 531,443,389.121 5,314,434 400,679,066.000 4,006,791 400,679,066.000 4,006,791
RG Issued
RG -new fund offer - - - - - - - -
RG -during the year/period 215,492,927.927 2,154,929 174,153,110.011 1,741,531 - - - -
RG Redeemed during the year/period 130,611,923.136 1,306,119 320,232,070.509 3,202,321 - - - -
RG Outstanding, end of year/period 470,245,433.414 4,702,454 385,364,428.623 3,853,644 400,679,066.000 4,006,791 400,679,066.000 4,006,791
RG Dividend
RD Outstanding, beginning of year/period 78,571,728.000 785,717 78,571,728.000 785,717
RD Issued
RD -new fund offer - - - -
177
RD -during the year/period - - - -
RD Redeemed during the year/period - - - -
RD Outstanding, end of year/period 78,571,728.000 785,717 78,571,728.000 785,717
RD Monthly Dividend
RM Outstanding, beginning of year/period 105,748,426.203 1,057,484 85,536,740.707 855,367
RM Issued
RM -new fund offer - - - -
RM -during the year/period 35,966,586.199 359,666 75,338,727.311 753,387
RM Redeemed during the year/period 61,044,696.065 610,447 55,127,041.815 551,270
RM Outstanding, end of year/period 80,670,316.337 806,703 105,748,426.203 1,057,484
RM Quarterly Dividend
RQ Outstanding, beginning of year/period 35,467,551.550 354,675 55,841,163.172 558,411
RQ Issued
RQ -new fund offer - - - -
RQ -during the year/period 9,629,542.651 96,295 14,273,236.611 142,732
RQ Redeemed during the year/period 15,498,021.488 154,980 34,646,848.233 346,468
RQ Outstanding, end of year/period 29,599,072.713 295,990 35,467,551.550 354,675
RQ Regular Dividend
RD Issued
RD -new fund offer
RD -during the year/period 7,361,804.795 73,618 2,707,570.717 27,076
RD Redeemed during the year/period 3,197,333.749 31,973 717,051.662 7,171
RD
3. Unit Capital (Contd.) AXIS EMERGING OPPORTUNITIES AXIS EMERGING OPPORTUNITIES
AXIS EQUITY SAVER FUND AXIS EQUITY SAVER FUND FUND - SERIES 1 (1400 DAYS) FUND - SERIES 1 (1400 DAYS)
Direct Growth
ZG Outstanding, beginning of year/period 13,307,438.550 133,076 6,574,219.068 65,743 1,745,056.000 17,451 1,745,056.000 17,451
ZG Issued
ZG -new fund offer - - - - - - - -
ZG -during the year/period 10,637,091.131 106,371 8,623,362.939 86,234 - - - -
ZG Redeemed during the year/period 4,306,606.581 43,066 1,890,143.457 18,901 - - - -
ZG Outstanding, end of year/period 19,637,923.100 196,381 13,307,438.550 133,076 1,745,056.000 17,451 1,745,056.000 17,451
Direct Dividend
ZD Outstanding, beginning of year/period 106,183.000 1,062 106,183.000 1,062
ZD Issued
ZD -new fund offer - - - -
ZD -during the year/period - - - -
ZD Redeemed during the year/period - - - -
178
ZM Outstanding, beginning of year/period 1,220,810.542 12,208 1,152,029.280 11,520
ZM Issued
ZM -new fund offer - - - -
ZM -during the year/period 669,628.612 6,696 420,598.606 4,206
ZM Redeemed during the year/period 228,037.052 2,280 351,817.344 3,518
ZM Outstanding, end of year/period 1,662,402.102 16,624 1,220,810.542 12,208
ZQ Outstanding, beginning of year/period 663,024.759 6,632 397,184.838 3,973
ZQ Issued
ZQ -during the year/period 141,083.941 1,411 335,579.488 3,356
ZQ Redeemed during the year/period 251,909.714 2,519 69,739.567 697
ZQ Outstanding, end of year/period 552,198.986 5,524 663,024.759 6,632
ZD Outstanding, beginning of year/period 4,741,180.035 47,411 35,739.603 357
ZD Issued
ZD -new fund offer
ZD -during the year/period 367,429.225 3,674 4,737,820.906 47,378
ZD Redeemed during the year/period 4,536,030.606 45,360 32,380.474 324
ZD Outstanding, end of year/period 572,578.654 5,725 4,741,180.035 47,411
Total
Issued
-new fund offer - - - - - - - -
-during the year/period 280,266,094.481 2,802,660 280,590,006.589 2,805,900 - - - -
Redeemed during the year/period 219,674,558.391 2,196,744 413,067,093.061 4,130,670 - - - -
AXIS EMERGING OPPORTUNITIES AXIS EMERGING OPPORTUNITIES AXIS EQUITY ADVANTAGE FUND - AXIS EQUITY ADVANTAGE FUND -
FUND - SERIES 2 (1400 DAYS) FUND - SERIES 2 (1400 DAYS) SERIES 1 SERIES 1
Initial Capital 1,061,328,602.000 10,613,286 1,061,328,602.000 10,613,286 851,597,743.000 8,515,977 851,597,743.000 8,515,977
Growth
Outstanding, beginning of year/period 909,467,331.000 9,094,673 909,567,321.000 9,095,673 847,951,595.000 8,479,516
Issued
-new fund offer - - - - - - 847,951,595.000 8,479,516
-during the year/period - - (99,990.000) (1,000) - - - -
Dividend
Issued
179
-during the year/period - - 99,990.000 1,000
Redeemed during the year/period - - - -
Outstanding, end of year/period 150,820,162.000 1,508,202 150,820,162.000 1,508,202
Monthly Dividend
Issued
-new fund offer
Quarterly Dividend
Issued
-new fund offer
Regular Dividend
Issued
-new fund offer
AXIS EMERGING OPPORTUNITIES AXIS EMERGING OPPORTUNITIES AXIS EQUITY ADVANTAGE FUND - AXIS EQUITY ADVANTAGE FUND -
FUND - SERIES 2 (1400 DAYS) FUND - SERIES 2 (1400 DAYS) SERIES 1 SERIES 1
Direct Growth
Outstanding, beginning of year/period 1,013,109.000 10,131 1,013,109.000 10,131 3,646,148.000 36,461
Issued
-new fund offer - - - - - - 3,646,148.000 36,461
Outstanding, end of year/period 1,013,109.000 10,131 1,013,109.000 10,131 3,646,148.000 36,461 3,646,148.000 36,461
Direct Dividend
Outstanding, beginning of year/period 28,000.000 280 28,000.000 280
Issued
Outstanding, end of year/period 28,000.000 280 28,000.000 280
180
Issued
-new fund offer
Issued
-new fund offer
Issued
-new fund offer
Total
Outstanding, beginning of year/period 1,061,328,602.000 10,613,286 1,061,328,602.000 10,613,286 851,597,743.000 8,515,977
Issued
-new fund offer - - - - - - 851,597,743.000 8,515,977
Outstanding, end of year/period 1,061,328,602.000 10,613,286 1,061,328,602.000 10,613,286 851,597,743.000 8,515,977 851,597,743.000 8,515,977
AXIS EQUITY ADVANTAGE FUND - AXIS EQUITY ADVANTAGE FUND - AXIS CAPITAL BUILDER FUND - SERIES AXIS CAPITAL BUILDER FUND - SERIES
SERIES 2 SERIES 2 1 (1540 DAYS) 1 (1540 DAYS)
Initial Capital 86,105,856.000 861,059 86,105,856.000 861,059 442,249,226.000 4,422,492 442,249,226.000 4,422,492
Growth
Outstanding, beginning of year/period 85,742,003.000 857,420 415,454,368.000 4,154,544
Issued
-new fund offer - - 85,742,003.000 857,420 - - 415,454,368.000 4,154,544
Dividend
Issued
-new fund offer - - 26,021,333.000 260,213
-during the year/period (9,990.000) (100) - -
181
Monthly Dividend
Issued
-new fund offer
Quarterly Dividend
Issued
-new fund offer
Regular Dividend
Issued
-new fund offer
AXIS EQUITY ADVANTAGE FUND - AXIS EQUITY ADVANTAGE FUND - AXIS CAPITAL BUILDER FUND - SERIES AXIS CAPITAL BUILDER FUND - SERIES
SERIES 2 SERIES 2 1 (1540 DAYS) 1 (1540 DAYS)
Direct Growth
Issued
-new fund offer - - 363,853.000 3,639 - - 737,925.000 7,379
Direct Dividend
Outstanding, beginning of year/period 35,600.000 356
Issued
-new fund offer - - 35,600.000 356
182
Issued
-new fund offer
Issued
-new fund offer
Issued
-new fund offer
Total
Outstanding, beginning of year/period 86,105,856.000 861,059 442,249,226.000 4,422,492
Issued
-new fund offer - - 86,105,856.000 861,059 - - 442,249,226.000 4,422,492
-during the year/period - - - - (9,990.000) (100) - -
Rupees in '000
AXIS EMERGING
AXIS EMERGING AXIS EMERGING AXIS EMERGING AXIS EQUITY AXIS CAPITAL AXIS CAPITAL
OPPORTUNITIE AXIS EQUITY AXIS EQUITY AXIS EQUITY
AXIS EQUITY AXIS EQUITY OPPORTUNITIES OPPORTUNITIES OPPORTUNITIES ADVANTAGE BUILDER FUND - BUILDER FUND
S FUND - ADVANTAGE ADVANTAGE ADVANTAGE
SAVER FUND SAVER FUND FUND - SERIES 1 FUND - SERIES 1 FUND - SERIES 2 FUND - SERIES SERIES 1 (1540 - SERIES 1
SERIES 2 (1400 FUND - SERIES 1 FUND - SERIES 1 FUND - SERIES 2
(1400 DAYS) (1400 DAYS) (1400 DAYS) 2 DAYS) (1540 DAYS)
DAYS)

Balance, beginning of year/period (121,509) (84,432) - - - - - - - - - -
Net premium/discount on issue/redemption of units 202,703 (157,712) - - - - - - - - - -
Transferred to equalisation (151,096) 120,635 - - - - - - - - - -
Balance, end of year/period (69,902) (121,509) - - - - - - - - - -

Balance, beginning of year/period 69,434 303,677 508,927 234,211 1,579,131 173,695 595,206 - 10,977 - - -
Change in unrealised appreciation in value of investments 406,420 (234,243) (34,345) 274,716 (376,939) 1,405,436 433,443 595,206 75,623 10,977 70,589 -
Balance, end of year/period 475,854 69,434 474,582 508,927 1,202,192 1,579,131 1,028,649 595,206 86,600 10,977 70,589 -
Retained surplus
Balance, beginning of year/period 868,930 372,320 439,635 19,449 154,439 51,347 31,911 - (3,677) - 8,714 -
Transferred to revenue account (71,836) (63,873) - (3,172) - - - - - - - -
Surplus/(deficit) transferred from revenue account 278,703 560,483 141,815 423,358 673,543 103,092 121,300 31,911 (1,730) (3,677) (55,632) 8,714
Balance, end of year/period 1,075,797 868,930 581,450 439,635 827,982 154,439 153,211 31,911 (5,407) (3,677) (46,918) 8,714
183
Total reserves 1,481,749 816,855 1,056,032 948,562 2,030,174 1,733,570 1,181,860 627,117 81,193 7,300 23,671 8,714
The share of the plans in the reserves and surplus is as

follows:
RG Growth 1,311,574 689,238 945,069 854,661 1,739,336 1,485,352 1,175,540 623,840 80,727 7,222 22,116 8,178
RD Dividend 105,886 89,608 288,438 246,312 1,387 512
RM Monthly Dividend 57,131 62,119
RQ Quarterly Dividend 21,891 21,712
RD Regular Dividend 21,610 6,917
ZG Direct Growth 65,599 28,939 4,889 4,146 2,335 1,855 6,320 3,277 466 78 160 23
ZD Direct Dividend 188 147 65 51 8 1
ZM Direct Monthly Dividend 1,929 1,101
ZQ Direct Quarterly Dividend 667 624
ZD Direct Regular Dividend 1,348 6,205
1,481,749 816,855 1,056,032 948,562 2,030,174 1,733,570 1,181,860 627,117 81,193 7,300 23,671 8,714
Amount due to AMC
- Management fees 4,326 10,227 1,489 9,211 2,152 17,868 1,927 13,519 677 1,537 1,760 7,474
- Others 710 1,051 - - - - - 2,306 - - - 764
Trusteeship fee payable 3 4 3 3 6 7 4 5 - # 2 3
- Lateral shift payable 5,086 7,857 - - - - - - - - - -
- Others 5,786 24,234 - - - - - - - - - -
Interscheme payable 6,511 - - - - - - - - - - -
Contract for purchase of investments - - - - - - - - - - - 108,677
Audit fee payable 25 220 116 108 116 108 116 108 116 108 116 108
Registrar service fees payable 205 322 133 235 239 503 128 375 27 36 - 156
Dividend payable on units - 16 - - - - - - - - - -
MTM margin payable 1,801 - - - - - - - - - - -
Unit application pending allotment 1,055 2,981 - - - - - - - - - -
Commission to distributors payable 7,966 - 7,741 - 16,979 - 12,909 - 1,177 - 5,882 -
Custody fees payable 41 71 30 66 62 140 48 104 7 10 24 37
Investor education expense payable 126 106 98 96 210 206 162 154 16 14 74 58
Other current liabilities 1,618 1,208 187 87 336 181 351 183 48 25 142 1,527
35,259 48,297 9,797 9,806 20,100 19,013 15,645 16,754 2,068 1,730 8,000 118,804
6. INVESTMENTS
Equity shares 4,951,677 4,107,376 5,603,314 5,582,453 12,097,859 11,854,893 6,785,751 6,238,993 655,617 576,408 3,685,897 1,284,618
Privately placed / unlisted debentures and bonds - 100,269 - - - - - - - - - -
Listed debentures and bonds 1,793,956 1,374,882 - - - - - 2,072,648 - - 70,435 280,070
Certificates of deposit - - - - - - - - - 93,780 - -
184
Commercial paper - - 148,287 - 316,345 - 247,144 235,757 - - 177,944 -
Options - - - - - - 18,074 83,682 6,175 12,848 5,511 -
Securitised Debt 15,532 35,766 - - - - - - - - - -
Government securities (including treasury bills) 59,132 391,015 - - - - - - - - - -
INVESTMENTS 6,820,297 6,009,308 5,751,601 5,582,453 12,414,204 11,854,893 7,050,969 8,631,080 661,792 683,036 3,939,787 1,564,688
(i) All the investments are held in the name of the Scheme (except for government securities which are held in the name of the fund), as per clause 7 of the Seventh Schedule under Regulation 44(1) of SEBI (Mutual Funds)
Regulations, 1996.
Rupees in '000
AXIS EMERGING
AXIS EMERGING AXIS EMERGING OPPORTUNITIE AXIS EMERGING AXIS EQUITY AXIS CAPITAL AXIS CAPITAL
OPPORTUNITIES OPPORTUNITIES S FUND - OPPORTUNITIES AXIS EQUITY AXIS EQUITY AXIS EQUITY ADVANTAGE BUILDER FUND - BUILDER FUND
AXIS EQUITY AXIS EQUITY FUND - SERIES 1 FUND - SERIES 1 SERIES 2 (1400 FUND - SERIES 2 ADVANTAGE ADVANTAGE ADVANTAGE FUND - SERIES SERIES 1 (1540 - SERIES 1
SAVER FUND SAVER FUND (1400 DAYS) (1400 DAYS) DAYS) (1400 DAYS) FUND - SERIES 1 FUND - SERIES 1 FUND - SERIES 2 2 DAYS) (1540 DAYS)
Equity shares
- appreciation 715,841 285,157 688,581 642,751 1,549,516 1,801,254 1,275,052 858,497 111,685 38,279 386,774 13,887
- depreciation 140,575 202,704 214,264 133,823 347,889 222,123 52,627 107,893 6,317 15,438 274,630 14,873
- appreciation - 269 - - - - - - - - - -
- depreciation - - - - - - - - - - - -
- appreciation 1,659 811 - - - - - - - - - 414
- depreciation 31,245 18,457 - - - - - 27,583 - - 100 -
- appreciation - - - - - - - - - 232 - -
- depreciation - - - - - - - - - - - -
Commercial paper
- appreciation - - 265 - 565 - 441 793 - - 318 -
185
- depreciation - - - - - - - - - - - -
Futures
- appreciation 708 20,493 - - - - - - - - - -
- depreciation 70,975 8,570 - - - - - - - - - -
Options
- appreciation - - - - - - - - - - - -
- depreciation - - - - - - 194,217 128,609 18,768 12,095 41,773 -
Securitised Debt
- appreciation - - - - - - - - - - - -
- depreciation 67 138 - - - - - - - - - -
- appreciation 622 322 - - - - - - - - - -
- depreciation 114 7,749 - - - - - - - - - -
Rupees in '000
AXIS EMERGING
DAYS)
to to to to to to to to to to to 0
Purchases (excluding collateralised lending/Tri-Party Repo,

fixed deposits, futures and options)
- amount 11,638,480 19,002,523 4,210,016 7,820,223 9,303,467 26,965,155 3,905,036 25,119,873 365,332 820,301 5,587,831 4,809,896
- as a percentage of average daily net assets 160.14% 299.36% 73.55% 139.72% 75.24% 226.03% 41.01% 281.40% 39.90% 94.97% 127.91% 108.78%
- amount 21,674,557 19,959,347 41,806 386,467 85,947 360,472 436,127 - 31,147 - - -
- as a percentage of average daily net assets 298.24% 314.43% 0.73% 6.90% 0.70% 3.02% 4.58% - 3.40% - - -
- amount - 6,428 - 10,739 - 21,439 - 212,185 - 24,930 47,260 -
- as a percentage of average daily net assets - 0.10% - 0.19% - 0.18% - 2.38% - 2.89% 1.08% -
Sales (excluding collateralised lending/Tri-Party Repo, fixed
- amount 10,959,508 20,630,342 4,230,464 6,608,464 9,187,689 22,109,015 6,012,783 17,320,315 467,064 171,708 3,292,464 3,245,849
186
- amount 22,496,646 19,675,160 40,812 402,339 84,955 373,665 443,339 - 31,672 - - -
- as a percentage of average daily net assets 309.55% 309.96% 0.71% 7.19% 0.69% 3.13% 4.66% - 3.46% - - -
Sales at exercised price (index / stock options) #
- amount - - - - - - - - - - -
-
- as a percentage of average daily net assets - - - - - - - - - - - -
- - - - -
# Options not exercised / expired have not been included as the value of such transaction is Nil. -
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year/period and the fair value of such investments as at March 31, 2019 in companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net
assets are provided in Attachment 1.
Rupees in '000
AXIS
AXIS EMERGING AXIS EMERGING EMERGING AXIS EMERGING AXIS EQUITY AXIS CAPITAL AXIS CAPITAL
AXIS EQUITY AXIS EQUITY AXIS EQUITY
AXIS EQUITY AXIS EQUITY OPPORTUNITIES OPPORTUNITIES OPPORTUNITIE OPPORTUNITIES ADVANTAGE BUILDER FUND - BUILDER FUND
ADVANTAGE ADVANTAGE ADVANTAGE
SAVER FUND SAVER FUND FUND - SERIES 1 FUND - SERIES 1 S FUND - FUND - SERIES 2 FUND - SERIES SERIES 1 (1540 - SERIES 1
FUND - SERIES 1 FUND - SERIES 1 FUND - SERIES 2
(1400 DAYS) (1400 DAYS) SERIES 2 (1400 (1400 DAYS) 2 DAYS) (1540 DAYS)
DAYS)
(v) Aggregate fair value of non traded investments valued in
good faith 1,614,793 1,510,917 148,287 - 316,345 - 250,968 2,392,087 475 106,628 253,890 280,070
Rupees in '000
AXIS
DAYS)
(vi) Securities kept as Collateral with Clearing Corporation of
India Limited - 200,000 - - - - - - - - - -
Rupees in '000
AXIS EMERGING
DAYS)
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for derivatives) 500,000 250,000 20,000 40,000 30,000 30,000 50,000 - 3,000 - - -
500,000 250,000 20,000 40,000 30,000 30,000 50,000 - 3,000 - - -

Balances with banks in current accounts 11,774 23,563 11 33 23 100,085 240 35,625 24 117 49 654
- Lateral shift receivable 801 629 - - - - - - - - - -
- Others 1,093 3,176 - - - - - - - - - -
Interscheme receivable - 14,984 - - - - - - - - - -
Contracts for sale of investments 9,122 - - - - - 12,304 178,633 - 22,717 - -
Outstanding and accrued income 64,712 54,342 595 1,255 892 2,307 564 76,078 34 - 4,106 12,668
Amount due from AMC - - 2 1 43 1 142 - - 82 - -
MTM margin receivable - 18,891 - - - - - - - - - -
Cash margin placed for derivatives - 2,500 - - - - - - - - - -
187
Collateralised lending / Tri-Party Repo 228,084 718 104,641 145,647 218,398 378,580 2,599,263 238,432 279,470 164,137 509,976 2,972,000
Other current assets - - - - - 3 - - - - 145 -
315,586 118,803 105,249 146,936 219,356 480,976 2,612,513 528,768 279,528 187,053 514,276 2,985,322
9. INTEREST
Money market instruments 7,930 461 3,274 334 12,733 13,963 17,893 23,365 4,045 455 3,929 242
Debentures and bonds 131,433 102,318 1,650 4,762 4,672 21,330 112,222 139,426 (2) - 34,287 1,159
Fixed Deposits 32,410 17,529 1,608 2,624 3,079 4,468 1,991 932 96 - - -
Government securities (including treasury bills) 14,823 35,624 - - - 4,338 3,145 3,843 - - - 1,002
Collateralised lending / Tri-Party Repo 12,956 8,496 19,162 10,509 40,759 27,799 79,496 48,202 14,122 12,689 33,492 15,452
Securitised Debt 4,356 6,126 - - - - - - - - - -
203,908 170,554 25,694 18,229 61,243 71,898 214,747 215,768 18,261 13,144 71,708 17,855

The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the
investments made in other schemes and fixed deposits including interest thereon as applicable. During the year/period ended March 31, 2019, the Schemes have paid management fee at annualised average rate as follows:
AXIS
DAYS)
average rate 1.70% 2.26% 1.45% 2.12% 1.23% 1.91% 1.31% 1.98% 1.73% 2.39% 1.52% 2.18%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees
charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
AXIS EMERGING
DAYS)

investments)
- amount 343,753 917,328 282,723 643,548 946,086 380,948 339,197 239,521 23,909 12,998 54,943 17,928
- amount 189,454 185,859 140,908 144,684 272,543 277,856 217,897 207,610 25,639 16,675 111,147 8,643
188


Axis Liquid Fund Axis Fixed Term Plan - Series 64
Axis Treasury Advantage Fund Axis Capital Protection Oriented Fund - Series 5
Axis Long Term Equity Fund Axis Corporate Debt Fund
Axis Short Term Fund Axis Dynamic Equity Fund
Axis Regular Saver Fund Axis Multicap Fund
Axis Triple Advantage Fund Axis Fixed Term Plan – Series 92 (154 Days)
Axis Gold ETF Axis Fixed Term Plan - Series 93 (91 Days)
189
Axis Midcap Fund Axis Fixed Term Plan - Series 94 (177 Days)
Axis Gold Fund Axis Equity Hybrid Fund
Axis Strategic Bond Fund Axis Ultra Short Term Fund
Axis Focused 25 Fund Axis Growth Opportunities Fund
Axis Arbitrage Fund Axis Capital Builder Fund - Series 4 (1582 Days)
Axis Small Cap Fund Axis Fixed Term Plan - Series 102 (1133 Days)
Axis Hybrid Fund - Series 32 (1367 Days) Axis Hybrid Fund - Series 18 (42 Months)

Rupees in '000
AXIS EQUITY SAVER FUND AXIS EMERGING OPPORTUNITIES FUND - SERIES 1 (1400 DAYS) AXIS EMERGING OPPORTUNITIES FUND - SERIES 2 (1400 DAYS)
Fees for investment management services
Axis Asset Management Company Limited (including Service Tax/GST) 146,003 167,695 4,326 10,238 98,136 139,408 1,489 9,220 179,086 266,727 2,152 17,884
Axis Asset Management Company Limited Receivable for other expenses - - - - - - 2 1 - - 43 1
Axis Asset Management Company Limited Payable for other expenses - - 710 1,051 - - - - - - - -
Axis Bank Limited Purchase of securities - 520,000 - - - 190,000 - - - 280,000 - -
Axis Bank Limited Sale of securities - - - - - 150,629 - - - 250,603 - -
Axis Asset Management Company Limited Subscription of units at NAV - - 6,670 6,080 - - - - - - - -
Rupees in '000
AXIS EQUITY ADVANTAGE FUND - SERIES 1 AXIS EQUITY ADVANTAGE FUND - SERIES 2 AXIS CAPITAL BUILDER FUND - SERIES 1 (1540 DAYS)
Year ended Period ended Balance as at Balance as at Year ended Period ended Balance as at Balance as at Year ended Period ended Balance as at Balance as at
Axis Mutual Fund Trustee Limited Fees for trusteeship services 64 56 5 6 6 4 # 1 29 3 2 3
Axis Asset Management Company Limited (including Service Tax/GST) 147,485 177,491 1,927 13,530 18,697 16,104 677 1,536 78,353 7,481 1,760 7,481
Axis Asset Management Company Limited Receivable for other expenses - - 142 - - - - 82 - - - -
Axis Asset Management Company Limited Payable for other expenses - - - 2,306 - - - - - - - 764
Axis Bank Limited Purchase of securities - 300,795 - - - - - - - - - -
Axis Bank Limited Sale of securities - 400,168 - - - - - - - - - -
Axis Asset Management Company Limited Subscription of units at NAV - - - - - - - - - - - -
190
Rupees in '000
their relatives of AMC (Nature of relation) AXIS EMERGING AXIS EMERGING AXIS EMERGING AXIS CAPITAL AXIS CAPITAL
AXIS EMERGING AXIS EQUITY AXIS EQUITY AXIS EQUITY AXIS EQUITY
AXIS EQUITY AXIS EQUITY SAVER OPPORTUNITIES OPPORTUNITIES OPPORTUNITIES BUILDER FUND - BUILDER FUND -
OPPORTUNITIES FUND - ADVANTAGE FUND - ADVANTAGE FUND - ADVANTAGE FUND - ADVANTAGE FUND -
SAVER FUND FUND FUND - SERIES 1 FUND - SERIES 2 FUND - SERIES 2 SERIES 1 (1540 SERIES 1 (1540
SERIES 1 (1400 DAYS) SERIES 1 SERIES 1 SERIES 2 SERIES 2
(1400 DAYS) (1400 DAYS) (1400 DAYS) DAYS) DAYS)
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended Year ended Period ended Year ended Period ended
Professional clearing member charges 497 819 - 15 1 13 19 4 1 1 - -
Bank charges 190 261 # # # 3 1 3 # # # 1
Commission paid on distribution of units * 8,838 3,050 35,488 - 81,262 - 57,828 26,019 - - 28,215 1,406

Employee)
Commission paid on distribution of units 66 (1) - - - - - - - - - -
Commission paid on distribution of units 127 19 102 - 29 - 46 - 10 - 24 -
Brokerage on trades 1,558 2,271 103 337 234 723 185 365 - 69 473 101
- - - - - - -
F.Y. 2018-2019: NIL

F.Y. 2017-2018
Rupees in '000
Axis Equity
Axis Bank Limited Advantage Fund - 7.67% LIC Hsg Fin Ltd NCD
Series 1 29-May-17 Corporate Bond Opt I (MD 29/07/2021) 400,000
Axis Equity Saver
Fund 25-Apr-17 Equity Shares S Chand & Company Limited 85,006
Axis Equity Saver SBI Life Insurance Company
Fund 19-Sep-17 Equity Shares Limited 60,005
Axis Equity
Advantage Fund - SBI Life Insurance Company
Axis Capital Limited Series 1 19-Sep-17 Equity Shares Limited 49,995
Axis Equity
Advantage Fund - Central Depository Services
Series 1 21-Jun-17 Equity Shares (India) Limited 8,047
Axis Equity
Advantage Fund -
Series 1 14-Aug-17 Equity Shares Quess Corp Limited 100,000
Axis Finance Limited Axis Equity Saver P Ltd (29/01/2021) (Put/Call
Fund 29-Jan-18 Corporate Bond 29/01/2020) 100,000
191
13. Investments made during the year / period in the sponsor company and its group companies at cost Rupees in '000
companies AXIS EMERGING AXIS EMERGING AXIS EMERGING AXIS EMERGING AXIS CAPITAL AXIS CAPITAL
ADVANTAGE FUND - ADVANTAGE FUND - ADVANTAGE FUND ADVANTAGE
SERIES 1 SERIES 1 - SERIES 2 FUND - SERIES 2
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended Year ended Period ended Year ended Period ended
Axis Bank Limited *
Investment made by the Scheme - 520,000 - 190,000 - 280,000 - - - - - -
Investment made by other schemes 19,656 4,730,231 19,656 5,060,231 19,656 4,970,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231
Total investments 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231


Options
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
RG Growth 12.79 11.79 12.36 12.13 11.91 11.63 11.39 10.74 10.94 10.08 10.05 10.02
RD Dividend 11.35 11.14 11.91 11.63 10.05 10.02
RM Monthly Dividend 10.71 10.59
RQ Quarterly Dividend 10.74 10.61
192
RD Regular Dividend 12.42 11.45
ZG Direct Growth 13.34 12.17 12.80 12.38 12.30 11.83 11.73 10.90 11.28 10.21 10.22 10.03
ZD Direct Dividend 11.77 11.38 12.30 11.83 10.22 10.03
ZM Direct Monthly Dividend 11.16 10.90
ZQ Direct Quarterly Dividend 11.21 10.94
ZD Direct Regular Dividend 12.35 11.31


The Schemes operate in one segment only viz. to primarily generate attractive returns based on investment objectives of the Scheme.

There were no transactions in credit default swaps during the year/period ended March 31, 2019. (Previous year - Nil).

Rupees in '000
Particulars
Total Reserves
1,481,749 816,855 1,056,032 948,562 2,030,174 1,733,570 1,181,860 627,117 81,193 7,300 23,671 8,714
475,854 69,434 474,582 508,927 1,202,192 1,579,131 1,028,649 595,206 86,600 10,977 70,589 -
at plan level on issue/redemption of units 26,455 18,389 - - - - - - - - - -
Distributable Surplus 979,440 729,032 581,450 439,635 827,982 154,439 153,211 31,911 (5,407) (3,677) (46,918) 8,714
In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI has been transferred
to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) / Treps (Tri-Party Repo).

Rupees in '000
Rupees in '000
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
Unclaimed dividend and redemption gets transferred from schemes to separate pool account and is maintained separately. This disclosure has been carried out in the financial statements for all the schemes at
pool level.
193
The prior period figures for Axis Equity Advantage Fund - Series 1, Axis Equity Advantage Fund - Series 2 and Axis Capital Builder Fund - Series 1 (1540 Days) are for a period of less than one year and hence are not comparable to the current year.
Ashish Naik
Fund Manager-Equity

To the Trustees of
Axis Mutual Fund – Axis Capital Builder Fund - Series 4 (1582 Days)
Opinion
We have audited the accompanying financial statements of Axis Capital Builder Fund - Series 4 (1582 Days) (“the
Statement for the period then ended, and notes to the financial statements, including a summary of significant
(b) in the case of the Revenue Account, of the surplus for the period ended on that date; and
(c) in the case of the Cash Flow Statement, of the cash flows for the period ended on that date.
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended March 31, 2019. These matters were addressed in the
context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not
provide a separate opinion on these matters. For each matter below, our description of how our audit addressed
the matter is provided in that context.
194
195
internal control.
during our audit.
196
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
197
To the Trustees of
Axis Mutual Fund – Axis Children's Gift Fund
Opinion
We have audited the accompanying financial statements of Axis Children's Gift Fund (“the Scheme”),
which comprise the Balance sheet as at March 31, 2019 and the Revenue Account for the year then
and
(a) in the case of the Revenue Account, of the surplus for the year ended on that date
Basis for Opinion
process.
198
safeguards.
199

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
200
To the Trustees of
Axis Mutual Fund – Axis Equity Hybrid Fund
Opinion
We have audited the accompanying financial statements of Axis Equity Hybrid Fund (“the Scheme”),
which comprise the Balance sheet as at March 31, 2019 and the Revenue Account for the period then
and
Basis for Opinion
process.
201
safeguards.
202

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
203
To the Trustees of
Axis Mutual Fund – Axis Growth Opportunities Fund
Opinion
We have audited the accompanying financial statements of Axis Growth Opportunities Fund (“the
Scheme”), which comprise the Balance sheet as at March 31, 2019 and the Revenue Account for the
period then ended, and notes to the financial statements, including a summary of significant accounting
policies and other explanatory information.
and
Basis for Opinion
process.
204
safeguards.
205

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
206
To the Trustees of
Axis Mutual Fund – Axis Nifty ETF
Opinion
We have audited the accompanying financial statements of Axis Nifty ETF (“the Scheme”), which comprise the
Balance sheet as at March 31, 2019, the Revenue Account and the Cash Flow Statement for the year then ended,
and notes to the financial statements, including a summary of significant accounting policies and other explanatory
information.
Basis for Opinion
Key Audit Matters
207
equity shares. • Assessed the design and implementation of controls over
208
internal control.
during our audit.
209
report that:
Regulations.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
210
To the Trustees of
Axis Mutual Fund – Axis Small Cap Fund
Opinion
We have audited the accompanying financial statements of Axis Small Cap Fund (“the Scheme”), which
(b) in the case of the Revenue Account, of the deficit for the year ended on that date; and
Basis for Opinion
to fraud or error.
process.
211
safeguards.
212

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
213
To the Trustees of
Axis Mutual Fund – Axis Triple Advantage Fund
Opinion
We have audited the accompanying financial statements of Axis Triple Advantage Fund (“the
Scheme”), which comprise the Balance sheet as at March 31, 2019 and the Revenue Account for the
year then ended, and notes to the financial statements, including a summary of significant accounting
and
Basis for Opinion
process.
214
safeguards.
215

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
216
Balance Sheet
AXIS AXIS CAPITAL
AXIS AXIS AXIS TRIPLE AXIS TRIPLE
AXIS SMALL AXIS SMALL AXIS NIFTY AXIS EQUITY GROWTH BUILDER FUND -
CHILDREN'S CHILDREN'S ADVANTAGE ADVANTAGE AXIS NIFTY ETF
CAP FUND CAP FUND ETF HYBRID FUND OPPORTUNITI SERIES 4 (1582
GIFT FUND GIFT FUND FUND FUND
ES FUND DAYS)
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 1,095,203 1,642,915 3,105,466 2,960,209 1,508,289 1,642,762 6,220 6,720 21,955,139 6,522,293 8,461,935
Reserves and surplus 2(b) & 4 1,848,213 2,647,584 925,212 721,004 1,312,619 1,298,835 67,577 61,788 168,131 418,129 482,522
Current liabilities 5 23,753 7,474 14,878 164,863 9,658 73,211 600 91 129,093 49,253 22,865
2,967,169 4,297,973 4,045,556 3,846,076 2,830,566 3,014,808 74,397 68,599 22,252,363 6,989,675 8,967,322
Investments 2(c), 6 & 23 2,268,040 3,710,922 3,740,788 3,643,310 2,718,416 2,876,994 73,072 67,159 20,836,776 6,496,191 7,996,854
Deposits 7 - - - 45,000 - - - 250,000 - 200,000
Other current assets 8 699,129 587,051 304,768 157,766 112,150 137,814 1,325 1,440 1,165,587 493,484 770,468
2,967,169 4,297,973 4,045,556 3,846,076 2,830,566 3,014,808 74,397 68,599 22,252,363 6,989,675 8,967,322
217
Jinesh Gopani Ashish Naik Anupam Tiwari

Head-Equity & Fund Manager Fund Manager-Equity & Nifty ETF Fund Manager-Equity
Place : Mumbai R. Sivakumar

Date: May 28, 2019 Head-Fixed Income & Fund Manager
Revenue Account
AXIS CAPITAL
AXIS AXIS AXIS TRIPLE AXIS TRIPLE AXIS GROWTH
AXIS SMALL AXIS SMALL AXIS NIFTY AXIS NIFTY AXIS EQUITY BUILDER FUND -
CHILDREN'S CHILDREN'S ADVANTAGE ADVANTAGE OPPORTUNITIES
CAP FUND CAP FUND ETF ETF HYBRID FUND SERIES 4 (1582
GIFT FUND GIFT FUND FUND FUND FUND
DAYS)
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 July 03, 2017 August 09, 2018 October 22, 2018 December 21, 2018
Schedule
INCOME AND GAINS
Dividend 2(d) 26,169 29,470 16,964 12,932 15,202 8,577 943 918 24,338 9,612 5,765
Interest 2(d) & 9 34,282 8,718 97,240 84,226 45,873 98,004 25 205 425,753 71,127 77,702
Profit on sale/redemption of investments (including F&O), net 2(d) 647,907 873,201 120,054 185,346 87,711 289,167 805 6,024 - 46,144 53,453
Profit on inter-scheme transfer/sale of investments, net - - - 558 11,805 3,392 - - - - 165
Load Income 59 - 683 739 1,131 2,166 - - 19,545 4,822 -
Other Income - - 1 1 1 2 - - - - -
Net change in marked to market in value of investments 2(c) & 6(ii) (675,015) (254,704) 38,436 188,729 12,209 (50,443) 8,952 4,072 460,879 368,169 404,567
Total 33,402 656,685 273,378 472,531 173,932 350,865 10,725 11,219 930,515 499,874 541,652
EXPENSES AND LOSSES
Loss on sale/redemption of investments (including F&O), net 2(d) - - - - - - - - 445,364 - -
Loss on inter-scheme transfer/sale of investments, net 2(d) - - 7,882 - - - - - 18,627 - -
Foreign exchange loss 2(c) - - - - - - - - - 2,682 -
Management fee 10 69,738 99,051 63,995 77,877 36,027 35,563 8 6 147,146 13,504 21,452
Service Tax / GST on Management Fees 12,552 17,119 11,518 13,485 6,484 6,115 2 2 26,486 2,430 3,862
Trusteeship fee 10 24 29 26 23 19 22 # # 97 22 18
Investor education expense 726 838 774 668 574 638 14 12 2,864 594 474
218
Custodian service charges 170 583 167 364 124 341 8 28 547 267 143
Registrar service charges 776 2,210 2,334 2,541 1,209 2,957 7 34 7,785 1,615 1,098
Commission to distributors 10,821 - 20,978 4,178 17,980 17,276 - - 148,485 57,074 31,877
Audit fee 130 119 253 240 253 241 4 59 259 97 122
Marketing expenses 80 - 54 - 34 - - - 25 8 -
Listing fee 64 23 - - 66 12 - 21 54 32 36
Other operating expenses 340 120 1,153 1,404 1,599 1,488 5 12 846 292 48
Less: Expenses reimbursed/to be reimbursed by AMC - (571) - (564) - (495) - (129) - - -
Total 95,421 119,521 109,134 100,216 64,369 64,158 48 45 798,585 78,617 59,130
Surplus / (Deficit) for the year/period (62,019) 537,164 164,244 372,315 109,563 286,707 10,677 11,174 131,930 421,257 482,522
Transfer from / (to) unrealised appreciation reserve 675,015 254,704 (38,436) (188,729) (12,209) 50,443 (8,952) (4,072) (460,879) (368,169) (404,567)
Equalisation (debit) / credit 2(e) (552,398) - 12,202 11,363 (98,224) (250,314) (4,573) 54,360 39,379 (653) -
Transfer from retained surplus - 91,038 - - - - - - - - -
Dividend distribution - (91,038) - - - - - - - - -
Surplus / (Deficit) transferred to the retained surplus 4 60,598 791,868 138,010 194,949 (870) 86,836 (2,848) 61,462 (289,570) 52,435 77,955


Cash Flow Statement

AXIS SMALL CAP AXIS SMALL CAP AXIS CAPITAL BUILDER

FUND FUND AXIS NIFTY ETF AXIS NIFTY ETF FUND - SERIES 4 (1582
Particulars DAYS)
April 01, 2018 April 01, 2017 April 01, 2018 July 03, 2017 December 21, 2018
to to to to to
Net Surplus / (Deficit) for the year/period (62,019) 537,164 10,677 11,174 482,522
Adjustments for:-
investments 675,015 254,704 (8,952) (4,072) (404,567)
(Increase)/Decrease in investments at cost 809,570 (479,009) 3,687 (63,946) (7,592,287)
(Increase)/Decrease in other current assets 1,562 (1,431) (32) (129) (962)
Increase/(Decrease) in current liabilities (2,899) 2,077 (60) 91 22,865
(Increase)/Decrease in deposits - - - - (200,000)
Net cash used in operations (A) 1,421,229 313,505 5,320 (56,882) (7,692,429)

Increase/(Decrease) in unit capital (543,984) - (500) 6,720 8,461,935
Increase/(Decrease) in unit premium reserve (737,352) - (4,888) 50,614 -
Adjustments for:-
Increase in unit pending allotment
redeemed by investors 14,572 - - - -
units issued to investors (8,684) - - - (5)
Dividend paid (including tax thereon) - (91,038) - - -
Net cash generated from financing activities (B) (1,275,448) (91,038) (5,388) 57,334 8,461,930
Net Increase/(Decrease) in cash and cash equivalents (A+B) 145,781 222,467 (68) 452 769,501
Cash and Cash Equivalents as at the beginning of the year/period 544,640 322,173 452 - -
Cash and Cash Equivalents as at the close of the year/period 690,421 544,640 384 452 769,501
Component of cash and cash equivalents March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019
Balances with banks in current accounts 8,901 149 53 34 86

Collateralised lending / Tri-Party Repo 681,520 544,491 331 418 769,415
Total 690,421 544,640 384 452 769,501


219
1. BACKGROUND
NFO Close
Axis Triple Advantage Fund An open ended scheme To generate long term capital appreciation by investing June 30, 2010 Growth
investing in equity, debt and in a diversified portfolio of equity and equity related to Dividend
gold instruments, fixed income instruments and gold July 29, 2010 Direct Growth
exchange traded funds. Direct Dividend
Axis Children'S Gift Fund An open ended fund, for To generate income by investing in debt & money November 18, 2015 Compulsory Lock-in Growth
investment for children, having market instruments along with long-term capital to Compulsory Lock-in Dividend
a lock-in of 5 years or till the appreciation through investments in equity & equity December 2, 2015 No Lock-in Growth
child attains age of majority related instruments. However, No Lock-in Dividend
(whichever is earlier). there is no assurance or guarantee that the Compulsory Lock-in Direct Growth
investment objective of the Scheme will be achieved. Compulsory Lock-in Direct Dividend
The Scheme does not assure or guarantee any No Lock-in Direct Growth
returns. No Lock-in Direct Dividend
Axis Small Cap Fund # An open ended equity scheme To generate long-term capital appreciation from a November 11, 2013 Growth
predominantly investing in diversified portfolio of predominantly equity & equity to Dividend
small cap stocks related instruments of small cap companies. November 25, 2013 Direct Growth
Direct Dividend
Axis Nifty ETF An open ended scheme The investment objective of the Scheme is to provide June 13, 2017
replicating/tracking Nifty 50 returns before expenses that closely correspond to to
index the total returns of the Nifty 50 Index subject to June 27, 2017
tracking errors. However, there is no assurance or
will be achieved.
Axis Equity Hybrid Fund An Open ended hybrid scheme To generate long term capital appreciation along with July 20, 2018 Growth
investing predominantly in current income by investing in a mix of Equity and to Dividend
equity and equity related Equity related instruments, debt instruments and August 03, 2018 Monthly Dividend
instruments, money market instruments. However, there is no Quarterly Dividend
assurance or guarantee that the investment objective Direct Growth
of the Scheme will be achieved. The Scheme does Direct Dividend
not assure or guarantee any returns. Direct Monthly Dividend
Axis Growth Opportunities Fund An Open-ended Equity To generate long term capital appreciation by investing October 01, 2018 Growth
Scheme investing in both large in a diversified portfolio of Equity & Equity Related to Dividend
and mid cap stocks. Instruments both in India as well as overseas. October 15, 2018 Direct Growth
However, there can be no assurance that the Direct Dividend
Axis Capital Builder Fund - Series A close ended equity scheme To generate income and long term capital appreciation December 03, 2018 Growth
4 (1582 Days) investing across large cap, mid by investing in a diversified portfolio of equity & equity to Dividend
cap and small cap stocks. related instruments across market capitalisation. December 17, 2018 Direct Growth
However, there is no assurance or guarantee that the Direct Dividend
The Scheme does not assure or guarantee any
returns.
# Scheme converted into an open-ended equity scheme w.e.f. November 29, 2018.

220

Unit capital represents the net outstanding units at the balance sheet date, thereby reflecting all transactions relating to the period/year ended on that date.
(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage,transaction costs, CCIL charges and any other
charges customarily included in the broker’s note. Capitalisation of such brokerageand transaction costs incurred for the purpose of execution of trades is restricted to 12 bps in case of
cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of the specified limit is charged to the revenue account of the scheme as part of the total
expense ratio.
Investments in Foreign securities are accounted by converting the foreign currency into IndianRupees at the exchange rate prevailingon the date of trade date. Differences in settlement
amount on account of difference in exchange rate on the settlement date is recognised as foreign exchange gain /loss.
Investments in foreign securities (including American Depository Receipts) which have been traded during a period of thirty days (prior to the balance sheet date) are stated at the last
closing prices on the balance sheet date or the last trading day before the balance sheet date, as may be applicable, on the Overseas Stock Exchange on which the respective securities
are listed. When on a particular valuation day, a security has not been traded on the selected stock exchange; the value at which it is traded on another pre-approvedstock exchange is
used.
In case of American Depository Receipts which are traded in OTC (over the counter) market, the closing price in OTC market is considered for valuation.
Non traded foreign securities and American Depository Receipts, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as determined by
the AMC under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
on the basis of the valuationprinciples laid down by SEBI. The difference between last traded/valuedprice and next business day's (T+1) aggregatedprice received from CRISIL and ICRA
is amortised linearly upto the day preceding the next business day.
Treasury bills (including cash management bills) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes managed by the AMC.If
market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuationis within a ±0.10% band of the price derived as per the
the ±0.10% band.
discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields providedby

In case of open ended schemes, when units are issued or redeemed, the distributable surplus (excluding unit premium reserve, but including balance of distributable surplus at the
beginningof the year) as on the date of the transaction is determined. Based on the number of units outstanding on the transaction date, the distributable surplus (excluding unit premium
reserve, but including balance of distributable surplus at the beginning of the year) associated with each unit is computed. The per unit amount so determined is credited / debited to the
equalisation account on issue / redemption of each unit respectively.
(f) Load
221
3. Unit Capital
AXIS SMALL CAP FUND ** AXIS SMALL CAP FUND AXIS CHILDREN'S GIFT FUND AXIS CHILDREN'S GIFT FUND
Initial Capital 164,291,547.000 1,642,915 164,291,547.000 1,642,915 209,071,783.903 2,090,718 209,071,783.903 2,090,718

RG Growth
RG Outstanding, beginning of year/period 116,162,520.000 1,161,625 116,162,520.000 1,161,625
RG Issued
RG -new fund offer - - - -
RG -during the year/period 23,601,562.218 236,016 - -
RG Redeemed during the year/period 71,829,270.101 718,293 - -
RG Outstanding, end of year/period 67,934,812.117 679,348 116,162,520.000 1,161,625
RD Dividend
RD Issued
RD -during the year/period 1,823,859.143 18,239 - -
RD Redeemed during the year/period 23,814,877.424 238,149 - -
RM Monthly Dividend
RM Outstanding, beginning of year/period
RM Issued
RM -new fund offer
RM -during the year/period
RM Redeemed during the year/period
RM Outstanding, end of year/period
RQ Quarterly Dividend
RQ Outstanding, beginning of year/period
RQ Issued
RQ -new fund offer
RQ -during the year/period
RQ Redeemed during the year/period
RQ Outstanding, end of year/period
RG Compulsory Lock-in Growth
RG Issued
RG -new fund offer - -
RG -during the year/period 25,280,927.255 252,809 20,147,726.826 201,477
RG Redeemed during the year/period 6,543,602.608 65,436 1,938,852.971 19,389
RG Outstanding, end of year/period 227,130,978.167 2,271,308 208,393,653.520 2,083,935
RG Axis Nifty ETF
RG Outstanding, beginning of year/period
RG Issued
RG -new fund offer
G -during the year/period
G Redeemed during the year/period
RG Outstanding, end of year/period
Compulsory Lock-in Dividend
RD Issued
RD -new fund offer - -
RD -during the year/period 43,249.885 432 24,139.795 241
RD Redeemed during the year/period - - - -
No Lock-in Growth
-FG Outstanding, beginning of year/period 80,850,583.314 808,506 65,393,706.614 653,937
-FG Issued
-FG -new fund offer - -
FG -during the year/period 2,277,759.537 22,778 20,304,912.230 203,049
FG Redeemed during the year/period 6,741,032.519 67,410 4,848,035.530 48,480
-FG Outstanding, end of year/period 76,387,310.332 763,874 80,850,583.314 808,506
No Lock-in Dividend
FD Outstanding, beginning of year/period 1,825,688.789 18,257 1,504,996.174 15,050
FD Issued
FD -new fund offer - -
FD -during the year/period 35,387.880 354 471,899.599 4,719
FD Redeemed during the year/period 169,457.951 1,695 151,206.984 1,512
FD Outstanding, end of year/period 1,691,618.718 16,916 1,825,688.789 18,257
Direct Growth
ZG Outstanding, beginning of year/period 2,610,101.000 26,101 2,610,101.000 26,101
ZG Issued
ZG -new fund offer - - - -
ZG -during the year/period 15,802,254.629 158,023 - -
ZG Redeemed during the year/period 319,298.897 3,193 - -
Direct Dividend
ZD Issued
ZD -during the year/period 128,668.878 1,287 - -
ZD Redeemed during the year/period 164,152.830 1,642 - -
222
AXIS SMALL CAP FUND ** AXIS SMALL CAP FUND AXIS CHILDREN'S GIFT FUND AXIS CHILDREN'S GIFT FUND
ZM Outstanding, beginning of year/period
ZM Issued
ZM -new fund offer
ZM -during the year/period
ZM Redeemed during the year/period
ZM Outstanding, end of year/period
ZQ Issued
ZQ -new fund offer
ZQ -during the year/period
ZQ Redeemed during the year/period
Compulsory Lock-in Direct Growth
ZG Outstanding, beginning of year/period 834,759.726 8,348 622,396.651 6,224
ZG Issued
ZG -new fund offer - -
ZG -during the year/period 563,913.109 5,639 215,807.928 2,158
ZG Redeemed during the year/period 8,276.346 83 3,444.853 34
ZG Outstanding, end of year/period 1,390,396.489 13,904 834,759.726 8,348
Compulsory Lock-in Direct Dividend
ZD Outstanding, beginning of year/period 7,600.347 76 3,675.766 37
ZD Issued
ZD -during the year/period 10,821.227 108 3,924.581 39
ZD Redeemed during the year/period - - - -
ZD Outstanding, end of year/period 18,421.574 184 7,600.347 76
No Lock-in Direct Growth
DG Outstanding, beginning of year/period 2,897,886.935 28,979 2,414,647.449 24,147
DG Issued
DG -new fund offer - -
DG -during the year/period 76,111.484 761 649,595.856 6,496
DG Redeemed during the year/period 287,832.128 2,878 166,356.370 1,664
DG Outstanding, end of year/period 2,686,166.291 26,862 2,897,886.935 28,979
No Lock-in Direct Dividend
AADOutstanding, beginning of year/period 107,174.724 1,072 90,439.672 905
AADIssued
AAD-new fund offer - -
AAD-during the year/period 880.904 9 17,596.097 176
AADRedeemed during the year/period 13,124.396 131 861.045 9
AADOutstanding, end of year/period 94,931.232 950 107,174.724 1,072
Total
Issued
-new fund offer - - - - - - - -
-during the year/period 41,356,344.868 413,565 - - 28,289,051.281 282,890 41,835,602.912 418,355
Redeemed during the year/period 96,127,599.252 961,277 - - 13,763,325.948 137,633 7,108,757.753 71,088
223
AXIS TRIPLE ADVANTAGE FUND AXIS TRIPLE ADVANTAGE FUND AXIS NIFTY ETF AXIS NIFTY ETF
Initial Capital 428,244,059.562 4,282,440 428,244,059.562 4,282,440 227,203.000 22,720 227,203.000 22,720

RG Growth
RG Issued
RG -new fund offer - - - -
RG -during the year/period 17,344,897.183 173,449 24,264,567.630 242,646
RG Redeemed during the year/period 27,256,009.601 272,560 55,252,914.219 552,529
RG Outstanding, end of year/period 129,589,004.405 1,295,890 139,500,116.823 1,395,001
RD Dividend
RD Issued
RD -during the year/period 669,034.300 6,690 932,527.875 9,325
RD Redeemed during the year/period 6,235,046.557 62,350 13,277,374.856 132,774
RM Monthly Dividend
RM Outstanding, beginning of year/period
RM Issued
RM -new fund offer
RM -during the year/period
RM Redeemed during the year/period
RM Outstanding, end of year/period
RQ Outstanding, beginning of year/period
RQ Issued
RQ -new fund offer
RQ -during the year/period
RQ Redeemed during the year/period
RQ Outstanding, end of year/period
RG Issued
RG -new fund offer
RG -during the year/period
RG Redeemed during the year/period
RG Axis Nifty ETF
RG Outstanding, beginning of year/period 67,203.000 6,720 - -
RG Issued
RG -new fund offer 227,203.000 22,720
G -during the year/period - - - -
G Redeemed during the year/period 5,000.000 500 160,000.000 16,000
RG Outstanding, end of year/period 62,203.000 6,220 67,203.000 6,720
RD Outstanding, beginning of year/period
RD Issued
RD -new fund offer
RD -during the year/period
RD Redeemed during the year/period
RD Outstanding, end of year/period
No Lock-in Growth
-FG Outstanding, beginning of year/period
-FG Issued
-FG -new fund offer
FG -during the year/period
FG Redeemed during the year/period
-FG Outstanding, end of year/period
No Lock-in Dividend
FD Outstanding, beginning of year/period
FD Issued
FD -new fund offer
FD -during the year/period
FD Redeemed during the year/period
FD Outstanding, end of year/period
Direct Growth
ZG Outstanding, beginning of year/period 2,749,774.218 27,497 1,597,108.426 15,970
ZG Issued
ZG -new fund offer - - - -
ZG -during the year/period 2,628,032.003 26,280 1,660,353.992 16,604
ZG Redeemed during the year/period 667,230.860 6,672 507,688.200 5,077
Direct Dividend
ZD Issued
ZD -during the year/period 138,535.644 1,385 66,601.538 666
ZD Redeemed during the year/period 69,457.572 695 62,912.072 629
224
AXIS TRIPLE ADVANTAGE FUND AXIS TRIPLE ADVANTAGE FUND AXIS NIFTY ETF AXIS NIFTY ETF
ZM Outstanding, beginning of year/period
ZM Issued
ZM -new fund offer
ZM -during the year/period
ZM Redeemed during the year/period
ZM Outstanding, end of year/period
ZQ Issued
ZQ -new fund offer
ZQ -during the year/period
ZQ Redeemed during the year/period
ZG Outstanding, beginning of year/period
ZG Issued
ZG -new fund offer
ZG -during the year/period
ZG Redeemed during the year/period
ZG Outstanding, end of year/period
ZD Issued
ZD -new fund offer
ZD -during the year/period
ZD Redeemed during the year/period
DG Outstanding, beginning of year/period
DG Issued
DG -new fund offer
DG -during the year/period
DG Redeemed during the year/period
DG Outstanding, end of year/period
AADOutstanding, beginning of year/period
AADIssued
AAD-new fund offer
AAD-during the year/period
AADRedeemed during the year/period
AADOutstanding, end of year/period
Total
Outstanding, beginning of year/period 164,276,551.168 1,642,762 206,453,389.480 2,064,530 67,203.000 6,720 - -
Issued
-new fund offer - - - - - - 227,203.000 22,720
-during the year/period 20,780,499.130 207,804 26,924,051.035 269,241 - - - -
Redeemed during the year/period 34,227,744.590 342,277 69,100,889.347 691,009 5,000.000 500 160,000.000 16,000
Outstanding, end of year/period 150,829,305.708 1,508,289 164,276,551.168 1,642,762 62,203.000 6,220 67,203.000 6,720
225
AXIS GROWTH OPPORTUNITIES AXIS CAPITAL BUILDER FUND -

AXIS EQUITY HYBRID FUND FUND SERIES 4 (1582 DAYS)
Initial Capital 2,280,950,769.100 22,809,508 655,322,069.400 6,553,221 846,193,513.000 8,461,935

RG Growth
RG Outstanding, beginning of year/period - - - - - -
RG Issued
RG -new fund offer 2,207,967,083.100 22,079,671 626,791,006.600 6,267,910 790,261,931.000 7,902,619
RG -during the year/period 170,452,143.710 1,704,521 52,159,287.973 521,593 - -
RG Redeemed during the year/period 267,515,331.247 2,675,153 61,189,949.205 611,899 - -
RG Outstanding, end of year/period 2,110,903,895.563 21,109,039 617,760,345.368 6,177,604 790,261,931.000 7,902,619
RD Dividend
RD Outstanding, beginning of year/period - - - - - -
RD Issued
RD -new fund offer 25,860,649.800 258,606 20,209,705.200 202,097 54,905,996.000 549,060
RD -during the year/period 8,839,747.110 88,397 4,109,120.867 41,091 - -
RD Redeemed during the year/period 2,949,361.582 29,494 1,345,717.582 13,457 - -
RD Outstanding, end of year/period 31,751,035.328 317,509 22,973,108.485 229,731 54,905,996.000 549,060
RM Monthly Dividend
RM Outstanding, beginning of year/period - -
RM Issued
RM -new fund offer 25,695,367.800 256,954
RM -during the year/period 6,538,068.621 65,381
RM Redeemed during the year/period 4,538,281.263 45,383
RM Outstanding, end of year/period 27,695,155.158 276,952
RQ Outstanding, beginning of year/period - -
RQ Issued
RQ -new fund offer 9,349,653.200 93,497
RQ -during the year/period 2,088,196.976 20,882
RQ Redeemed during the year/period 883,410.822 8,834
RQ Outstanding, end of year/period 10,554,439.354 105,545
RG Issued
RG -new fund offer
RG -during the year/period
RG Redeemed during the year/period
RG Axis Nifty ETF
RG Issued
RG -new fund offer
G -during the year/period
G Redeemed during the year/period
RD Outstanding, beginning of year/period
RD Issued
RD -new fund offer
RD -during the year/period
RD Redeemed during the year/period
RD Outstanding, end of year/period
No Lock-in Growth
-FG Outstanding, beginning of year/period
-FG Issued
-FG -new fund offer
FG -during the year/period
FG Redeemed during the year/period
-FG Outstanding, end of year/period
No Lock-in Dividend
FD Outstanding, beginning of year/period
FD Issued
FD -new fund offer
FD -during the year/period
FD Redeemed during the year/period
FD Outstanding, end of year/period
226
AXIS GROWTH OPPORTUNITIES AXIS CAPITAL BUILDER FUND -

AXIS EQUITY HYBRID FUND FUND SERIES 4 (1582 DAYS)
Direct Growth
ZG Outstanding, beginning of year/period - - - - - -
ZG Issued
ZG -new fund offer 11,132,980.300 111,330 7,901,257.500 79,013 1,004,086.000 10,041
ZG -during the year/period 3,255,813.169 32,558 4,037,102.106 40,371 - -
Redeemed during the year/period 1,138,947.056 11,389 951,661.175 9,517 - -
Direct Dividend
Outstanding, beginning of year/period - - - - - -
Issued
-new fund offer 284,525.900 2,845 420,100.100 4,201 21,500.000 215
-during the year/period 126,720.552 1,267 174,272.533 1,743 - -
ZD Redeemed during the year/period 46,895.946 469 85,279.319 853 - -
ZD Outstanding, end of year/period 364,350.506 3,643 509,093.314 5,091 21,500.000 215
ZM Outstanding, beginning of year/period - -
ZM Issued
ZM -new fund offer 382,999.000 3,830
ZM -during the year/period 473,470.715 4,735
ZM Redeemed during the year/period 192,382.989 1,924
ZM Outstanding, end of year/period 664,086.726 6,641
ZQ Outstanding, beginning of year/period - -
ZQ Issued
ZQ -new fund offer 277,510.000 2,775
ZQ -during the year/period 91,326.564 913
ZQ Redeemed during the year/period 37,691.757 377
ZQ Outstanding, end of year/period 331,144.807 3,311
ZG Outstanding, beginning of year/period
ZG Issued
ZG -new fund offer
ZG -during the year/period
ZG Redeemed during the year/period
ZG Outstanding, end of year/period
ZD Issued
ZD -new fund offer
ZD -during the year/period
ZD Redeemed during the year/period
DG Outstanding, beginning of year/period
DG Issued
DG -new fund offer
DG -during the year/period
DG Redeemed during the year/period
DG Outstanding, end of year/period
AADOutstanding, beginning of year/period
AADIssued
AAD-new fund offer
AAD-during the year/period
AADRedeemed during the year/period
AADOutstanding, end of year/period
Total
Issued
-new fund offer 2,280,950,769.100 22,809,508 655,322,069.400 6,553,221 846,193,513.000 8,461,935
-during the year/period 191,865,487.417 1,918,654 60,479,783.479 604,798 - -
Redeemed during the year/period 277,302,302.662 2,773,023 63,572,607.281 635,726 - -
Outstanding, end of year/period 2,195,513,953.855 21,955,139 652,229,245.598 6,522,293 846,193,513.000 8,461,935
** Pursuant to the provisions of the scheme information document (SID) of the scheme in regard to automatic conversion into an open ended equity scheme on completion of 5
years, the unit holders were given an option to exit from the scheme/plans between October 30, 2018 to November 28, 2018 (both days inclusive) on the prevailing Net Asset
Value (NAV) without any exit load in accordance with regulation 18 (15A) of the SEBI (Mutual Funds) Regulation, 1996. Consequent to redemption from certain investors,
difference between redemption proceeds and face value i.e. realised gain has been adjusted against ‘Retained Surplus’.
227
Rupees in '000
AXIS CAPITAL
AXIS SMALL AXIS SMALL AXIS NIFTY AXIS EQUITY BUILDER FUND -
CHILDREN'S CHILDREN'S ADVANTAGE ADVANTAGE AXIS NIFTY ETF OPPORTUNITIE
CAP FUND CAP FUND ETF HYBRID FUND SERIES 4 (1582
GIFT FUND GIFT FUND FUND FUND S FUND
DAYS)

Balance, beginning of year/period - - 87,488 27,062 (234,344) (200,072) (3,746) - - - -
Net premium/discount on issue/redemption of units (600,060) - 39,964 71,789 (95,779) (284,586) (4,888) 50,614 36,201 (3,128) -
Transferred to revenue account
Transferred to equalisation 552,398 - (12,202) (11,363) 98,224 250,314 4,573 (54,360) (39,379) 653 -
Balance, end of year/period (47,662) - 115,250 87,488 (231,899) (234,344) (4,061) (3,746) (3,178) (2,475) -

Balance, beginning of year/period 1,042,217 1,296,921 426,408 237,679 351,800 402,243 4,072 - - - -
Change in unrealised appreciation in value of investments (675,015) (254,704) 38,436 188,729 12,209 (50,443) 8,952 4,072 460,879 368,169 404,567
Balance, end of year/period 367,202 1,042,217 464,844 426,408 364,009 351,800 13,024 4,072 460,879 368,169 404,567
Retained surplus
Balance, beginning of year/period 1,605,367 904,537 207,108 12,159 1,181,379 1,094,543 61,462 - - - -
Premium on redemption of units ** (137,292)
228
Transferred to revenue account - (91,038) - - - - - - - - -
Surplus/(deficit) transferred from revenue account 60,598 791,868 138,010 194,949 (870) 86,836 (2,848) 61,462 (289,570) 52,435 77,955
Balance, end of year/period 1,528,673 1,605,367 345,118 207,108 1,180,509 1,181,379 58,614 61,462 (289,570) 52,435 77,955
Total reserves 1,848,213 2,647,584 925,212 721,004 1,312,619 1,298,835 67,577 61,788 168,131 418,129 482,522
The share of the plans in the reserves and surplus is

as follows:
RG Growth 1,198,540 2,025,576 1,172,031 1,163,546 160,022 395,024 450,582
RD Dividend 293,235 565,857 90,190 108,440 2,413 14,680 31,304
RM Monthly Dividend 2,113
RQ Quarterly Dividend 803
g Axis Nifty ETF 67,577 61,788
RG Compulsory Lock-in Growth 674,408 506,182
RD Compulsory Lock-in Dividend 3,413 2,687
FG No Lock-in Growth 226,691 196,282
FD No Lock-in Dividend 5,029 4,442
ZG Direct Growth 349,624 49,053 48,685 25,785 2,519 8,053 621
ZD Direct Dividend 6,814 7,098 1,713 1,064 69 372 15
ZM Direct Monthly Dividend 129
ZQ Direct Quarterly Dividend 63
ZG Compulsory Lock-in Direct Growth 5,100 2,414
ZD Compulsory Lock-in Direct Dividend 67 22
DG No Lock-in Direct Growth 10,157 8,665
AADNo Lock-in Direct Dividend 347 310
1,848,213 2,647,584 925,212 721,004 1,312,619 1,298,835 67,577 61,788 168,131 418,129 482,522
** Pursuant to the provisions of the scheme information document (SID) of the scheme in regard to automatic conversion into an open ended equity scheme on completion of 5 years, the unit holders were given an option to exit from the scheme/plans between
October 30, 2018 to November 28, 2018 (both days inclusive) on the prevailing Net Asset Value (NAV) without any exit load in accordance with regulation 18 (15A) of the SEBI (Mutual Funds) Regulation, 1996. Consequent to redemption from certain investors,
difference between redemption proceeds and face value i.e. realised gain has been adjusted against ‘Retained Surplus’.
Amount due to AMC
- Management fees 347 6,962 4,129 5,853 1,768 2,398 1 # 36,976 2,967 11,433
- Others - - - 739 - - - - - -
Trusteeship fee payable 1 2 2 2 1 2 - # 10 # 4
- Lateral shift payable 49 - 460 48 284 149 - - 2,494 - -
- Others 14,523 - 3,282 235 4,171 1,660 - - 54,302 27,708 -
Interscheme payable - - 361 30 - 2,066 - - - - -
Contract for purchase of investments 878 - - 155,604 - 63,500 569 - - - -
Audit fee payable 117 108 14 216 14 220 3 54 234 87 110
Registrar service fees payable 50 177 - 207 - 206 - 2 554 126 214
Unit application pending allotment 3,728 - 338 22 - 661 - - 582 731 -
Commission to distributors payable 3,748 - 4,554 16 2,629 908 - - 31,117 16,784 10,235
Custody fees payable 14 50 23 34 16 27 3 3 109 133 44
Investor education expense payable 46 72 68 62 48 50 2 2 372 116 148
Other current liabilities 252 103 1,647 1,795 727 1,364 22 30 2,343 598 677
23,753 7,474 14,878 164,863 9,658 73,211 600 91 129,093 49,253 22,865
6. INVESTMENTS
Equity shares 2,268,040 3,710,922 2,720,981 2,413,555 1,941,340 1,072,741 73,072 67,159 15,548,688 5,110,574 7,687,005
Equity warrants - - - 21,001 - 15,750 - - - - -
Units of mutual fund - - - - 320,968 783,326 - - - - -
Privately placed / unlisted debentures and bonds - - 47,646 157,643 - 50,134 - - 399,786 - -
229
Listed debentures and bonds - - 815,453 736,965 254,808 718,808 - - 3,922,273 - 13,276
Certificates of deposit - - - - - - - - 234,977 - -
Commercial paper - - - - 98,858 - - - 731,052 - 296,573
International Equities - - - - - - - - - 1,228,120 -
American Depository Receipt - - - - - - - - - 157,497 -
Government securities (including treasury bills) - - 156,708 314,146 102,442 236,235 - - - - -
INVESTMENTS 2,268,040 3,710,922 3,740,788 3,643,310 2,718,416 2,876,994 73,072 67,159 20,836,776 6,496,191 7,996,854
(i) All the investments are held in the name of the Scheme (except for government securities which are held in the name of the fund), as per clause 7 of the Seventh Schedule under Regulation
44(1) of SEBI (Mutual Funds) Regulations, 1996.
Rupees in '000
AXIS CAPITAL
DAYS)
Equity shares
- appreciation 453,436 1,081,047 545,742 494,201 437,144 426,521 15,610 6,373 944,776 384,079 443,968
- depreciation 86,234 38,830 69,723 49,536 49,827 21,672 2,585 2,301 502,642 55,531 40,033
Units of mutual fund
- appreciation - - - - - - - - - - -
- depreciation - - - - 27,611 99,421 - - - - -
- appreciation - - - 134 - 134 - - 1,953 - -
- depreciation - - 590 607 - - - - - - -
- appreciation - - 1,311 179 4,763 34,972 - - 18,801 - 103
- depreciation - - 11,892 8,693 745 - - - 3,408 - -
230
- appreciation - - - - - - - - 641 - -
- depreciation - - - - - - - - - - -
Commercial paper
- appreciation - - - - 176 - - - 758 - 529
- depreciation - - - - - - - - - - -
Futures
- appreciation - - - 808 - - - - - - -
- depreciation - - - 2,045 - - - - - - -
International Equities
- appreciation - - - - - - - - - 46,985 -
- depreciation - - - - - - - - - 25,286 -
Equity warrants
- appreciation - - - 4,355 - 3,245 - - - - -
- depreciation - - - - - - - - - - -
American Depository Receipt
- appreciation - - - - - - - - - 17,923 -
- depreciation - - - - - - - - - - -
- appreciation - - 194 - 151 9,554 - - - - -
- depreciation - - 198 12,389 42 1,533 - - - - -
Rupees in '000
AXIS CAPITAL
DAYS)
Purchases (excluding collateralised lending/Tri-Party

Repo, fixed deposits, futures and options)
- amount 1,797,314 2,713,684 6,785,689 8,383,708 3,603,275 982,532 5,718 218,962 50,231,007 7,475,789 9,460,032

- amount - - 487,278 3,236,226 - - - - 454,430 - 845,050
- as a percentage of average daily net assets - - 12.59% 96.90% - - - - 2.04% - 9.87%
231
- amount - - - - 3,284 - - - 36,949 - -
- as a percentage of average daily net assets - - - - 0.11% - - - 0.17% - -
Sales (excluding collateralised lending/Tri-Party Repo,

- amount 3,213,089 3,117,067 6,845,704 7,915,961 3,880,877 1,613,927 9,562 29,498,785 1,392,573 1,903,729
161,899
- as a percentage of average daily net assets 88.44% 74.45% 176.82% 237.02% 135.30% 50.62% 13.83% 132.63% 20.66% 22.24%
195.46%
- amount - - 253,209 3,287,576 - - - - 457,768 - 873,175
- as a percentage of average daily net assets - - 6.54% 98.44% - - - - 2.06% - 10.20%
Sales at exercised price (index / stock options) #
- amount - - - - - - - - - - -
- as a percentage of average daily net assets - - - - - - - - - - -
- - - - - - -
# Options not exercised / expired have not been included as the value of such transaction is Nil.
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year/period and the fair value of such investments as at March 31, 2019 in companies which have invested in any scheme of the Fund in excess
of five per cent of that scheme's net assets are provided in Attachment 1.
Rupees in '000
AXIS CAPITAL
DAYS)
valued in good faith - - 863,100 894,608 326,819 768,942 - - 4,952,330 - 309,849
Rupees in '000
AXIS CAPITAL
DAYS)
(vi) Securities kept as Collateral with Clearing
Corporation of India Limited - - - 130,000 - 60,000 - - - - -
Rupees in '000
232
AXIS CAPITAL
DAYS)
7. DEPOSITS
Deposit with scheduled bank (Margin deposit for

derivatives) - - - 45,000 - - - - 250,000 - 200,000
- - - 45,000 - - - - 250,000 - 200,000

Balances with banks in current accounts 8,901 149 2,917 8,024 1,186 8,482 53 34 14,641 19,745 86
- Lateral shift receivable 1,728 - 4 1 6 4 - - 854 487 -
- Others 6,956 - 444 265 224 70 - - 986 741 5
Interscheme receivable 24 - - - 495 - - - 10 137 -
Contracts for sale of investments - 40,825 118,565 - - 13,845 780 859 54,564 - -
Margin deposit with Clearing Corporation of India Limited - - 5,000 5,000 27,500 27,500 - - - - -
Outstanding and accrued income - 1,015 29,321 23,975 12,938 47,498 5 - 124,509 833 962
Application money pending allotment - - - - - - - - - - -
Amount due from AMC - 571 10 - - 8,383 - 129 - - -
MTM margin receivable - - - 3,243 - - - - - - -
Collateralised lending / Tri-Party Repo 681,520 544,491 148,477 117,258 69,766 32,031 331 418 970,017 471,441 769,415
Other current assets - - 30 - 35 1 156 - 6 100 -
699,129 587,051 304,768 157,766 112,150 137,814 1,325 1,440 1,165,587 493,484 770,468
Rupees in '000
9. INTEREST
Money market instruments - - 4,135 141 2,183 - - - 73,334 - 9,593

Debentures and bonds - - 69,830 46,066 29,294 71,038 - - 173,519 - 338
Fixed Deposits 15 - 1,628 3,147 31 49 - - 6,767 - 962
Government securities (including treasury bills) - - 14,121 28,763 6,646 23,104 - - 463 - 392
Collateralised lending / Tri-Party Repo 34,267 8,718 7,526 6,109 7,719 3,813 25 205 171,670 71,127 66,417
34,282 8,718 97,240 84,226 45,873 98,004 25 205 425,753 71,127 77,702
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the investments by the AMC in
the scheme, the net asset value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year/period ended March 31, 2019, the Schemes have paid management fee at annualised average rate as follows:
AXIS CAPITAL
DAYS)
233
Management fee (excluding Service Tax/GST) at
annualised average rate 1.92% 2.37% 1.66% 2.34% 1.46% 1.50% 0.01% 0.01% 1.03% 0.45% 0.91%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their
monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
AXIS CAPITAL
DAYS)

investments)
- amount 708,417 911,389 227,060 283,802 161,723 401,308 1,773 7,147 5,645 131,705 137,085
Expenditure (excluding realised loss on sale of

investment)
- amount 95,421 119,521 101,252 100,216 64,369 64,158 48 45 334,594 78,617 59,130


Axis Bluechip Fund Axis Equity Advantage Fund - Series 1
234
Axis Gold ETF Axis Multicap Fund
Axis Midcap Fund Axis Capital Builder Fund - Series 1 (1540 Days)
Axis Dynamic Bond Fund Axis Fixed Term Plan – Series 92 (154 Days)
Axis Focused 25 Fund Axis Ultra Short Term Fund
Axis Emerging Opportunities Fund - Series 1 (1400 Days) Axis Hybrid Fund - Series 22 (1278 Days)

Rupees in '000
AXIS SMALL CAP FUND AXIS CHILDREN'S GIFT FUND AXIS TRIPLE ADVANTAGE FUND
Name of related party Nature of transactions
Axis Asset Management Company Limited (including Service Tax/GST) 82,290 116,170 347 6,966 75,513 91,362 4,129 5,858 42,511 41,678 1,768 2,400
Axis Asset Management Company Limited Receivable for other expenses - - - 571 - - 10 - - - - 8,383
Axis Asset Management Company Limited Payable for other expenses - - - - - - - 739 - - - -
Axis Bank Limited Purchase of securities - - - - - 80,000 - - - - - -
Axis Bank Limited Sale of securities - - - - - - - - - - - -
Axis Asset Management Company Limited Subscription of units at NAV 5,000 - 5,364 - - - 6,890 6,494 - - 6,569 6,259
Rupees in '000
AXIS GROWTH AXIS CAPITAL BUILDER FUND -

AXIS NIFTY ETF AXIS EQUITY HYBRID FUND
OPPORTUNITIES FUND SERIES 4 (1582 DAYS)
Year ended Period ended Balance as at Balance as at Period ended Balance as at Period ended Balance as at Period ended Balance as at
Name of related party Nature of transactions
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019
Axis Mutual Fund Trustee Limited Fees for trusteeship services # # # # 97 11 22 3 18 4
Axis Asset Management Company Limited (including Service Tax/GST) 10 8 1 # 173,632 36,976 15,934 2,967 25,314 11,433
Axis Asset Management Company Limited Receivable for other expenses - - - 129 - - - - - -
235
Axis Asset Management Company Limited Payable for other expenses - - - - - - - - - -
Axis Bank Limited Purchase of securities - - - - 551,746 - - - - -
Axis Bank Limited Sale of securities - - - - 470,876 - - - - -
Axis Asset Management Company Limited Subscription of units at NAV - 2,202 2,747 2,360 5,000 5,095 5,000 5,360 - -
Rupees in '000
AXIS CAPITAL
AXIS AXIS AXIS TRIPLE AXIS TRIPLE AXIS EQUITY AXIS GROWTH
Name of sponsor, associates, employees or AXIS SMALL CAP AXIS SMALL CAP AXIS NIFTY BUILDER FUND
CHILDREN'S CHILDREN'S ADVANTAGE ADVANTAGE AXIS NIFTY ETF HYBRID OPPORTUNITI
their relatives of AMC (Nature of relation) FUND FUND ETF - SERIES 4
GIFT FUND GIFT FUND FUND FUND FUND ES FUND
(1582 DAYS)
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended Period ended Period ended Period ended
Professional clearing member charges - - - 136 - - - - 20 - 18
Bank charges 4 # 40 65 320 445 # # 50 10 1
Commission paid on distribution of units * 5,955 - 12,090 1,605 7,585 12,002 - - 127,508 46,276 38,710
Urvi Mahendra Dedhia (Relative of AMC

Employee)
Commission paid on distribution of units - - # - - - - - - - -
Commission paid on distribution of units 62 - 3 - 193 330 - - 54 48 9
Brokerage on trades 321 517 117 310 257 68 - - 792 125 405
(iii) Subscription by the schemes in the issues lead managed by associate companies/ Subscription to any issue of equity or debt on private placement basis where the sponsor or associate companies have acted as arranger or
lead manager.
F.Y. 2018-2019 : NIL
F.Y. 2017-2018
Rupees in '000
Axis Small Cap

Axis Children's Gift SBI Life Insurance Company

Fund 19-Sep-17 Equity Shares Limited 149,999
Axis Capital Limited Axis Children's Gift Central Depository Services

Fund 21-Jun-17 Equity Shares (India) Limited 1,042
Axis Children's Gift

Axis Triple
Advantage Fund 28-Apr-17 Equity Shares S Chand & Company Limited 1,935
Axis Children's Gift P Ltd (29/01/2021) (Put/Call
Fund 29-Jan-18 Corporate Bond 29/01/2020) 50,000
Axis Finance Limited
Axis Triple P Ltd (29/01/2021) (Put/Call
Advantage Fund 29-Jan-18 Corporate Bond 29/01/2020) 50,000
236
13. Investments made during the year / period in the sponsor company and its group companies at cost Rupees in '000
AXIS CAPITAL
companies AXIS AXIS AXIS TRIPLE AXIS TRIPLE AXIS GROWTH
AXIS SMALL CAP AXIS SMALL CAP AXIS EQUITY BUILDER FUND -
CHILDREN'S CHILDREN'S ADVANTAGE ADVANTAGE AXIS NIFTY ETF AXIS NIFTY ETF OPPORTUNITIE
FUND FUND HYBRID FUND SERIES 4 (1582
DAYS)
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Period ended Period ended Period ended Period ended
Axis Bank Limited *
Investment made by the Scheme - - - 80,000 - - 138 5,231 - - -
Investment made by other schemes 19,656 5,250,231 19,656 5,170,231 19,656 5,250,231 19,518 5,245,000 19,656 19,656 19,656
Total investments 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 19,656 19,656

15. NET ASSET VALUE
Rupees
AXIS CAPITAL
AXIS SMALL CAP Axis Small Cap AXIS EQUITY BUILDER FUND -
FUND Fund HYBRID FUND SERIES 4 (1582
DAYS)
Options
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 100 Face Value Rs. 100 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
Growth 27.64 27.44 19.0442 18.3408 10.08 10.64 10.57
Dividend 22.74 22.57 15.5326 14.9590 10.08 10.64 10.57
Monthly Dividend 10.08
Quarterly Dividend 10.08
AXIS Nifty ETF 1,186.3917 1,019.4243
Compulsory Lock-in Growth 12.9692 12.4290
Compulsory Lock-in Dividend 12.9762 12.4345
No Lock-in Growth 12.9676 12.4277
No Lock-in Dividend 12.9729 12.4332
Direct Growth 29.32 28.79 20.3352 19.3770 10.19 10.73 10.62
Direct Dividend 24.27 23.83 17.5026 16.6820 10.19 10.73 10.68
Direct Monthly Dividend 10.19
Direct Quarterly Dividend 10.19
Compulsory Lock-in Direct Growth 13.6681 12.8916
Compulsory Lock-in Direct Dividend 13.6601 12.8904
No Lock-in Direct Growth 13.7814 12.9900
237
No Lock-in Direct Dividend 13.6600 12.8904



Rupees in '000
AXIS CAPITAL
AXIS SMALL CAP AXIS SMALL CAP AXIS EQUITY BUILDER FUND -
FUND FUND HYBRID FUND SERIES 4 (1582
DAYS)
Particulars
Total Reserves
1,848,213 2,647,584 925,212 721,004 1,312,619 1,298,835 67,577 61,788 168,131 418,129 482,522
367,202 1,042,217 464,843 426,408 364,008 351,800 13,024 4,072 460,878 368,169 404,566
at plan level on issue/redemption of units - - - 87,489 - 4,777 - - - - -
Distributable Surplus 1,481,011 1,605,367 460,369 207,107 948,611 942,258 54,553 57,716 (292,747) 49,960 77,956
In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so
set aside towards IEAI has been transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) / Treps (Tri-Party Repo).

Rupees in '000
Rupees in '000
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
238
As these are the first financial statements of Axis Equity Hybrid Fund, Axis Growth Opportunities Fund and Axis Capital Builder Fund - Series 4 (1582 Days) since the date of launch, there are no prior period comparatives. The prior period figures for
Axis Nifty ETF are for a period of less than one year and hence are not comparable to the current year.


To the Trustees of
Axis Mutual Fund – Axis Gold ETF
Opinion
We have audited the accompanying financial statements of Axis Gold ETF (“the Scheme”), which comprise the
Balance sheet as at March 31, 2019, the Revenue Account and the Cash Flow Statement for the year then ended,
and notes to the financial statements, including a summary of significant accounting policies and other explanatory
information.
Basis for Opinion
Key Audit Matters
239
March 31, 2019 mainly comprised of the Gold. existence and valuation of investments
• Assessed the design and implementation of controls over
There is a risk on existence of investments and valuation and existence of investments.
that the fair value of investment not determined • On a sample basis, tested the key controls set up by
appropriately. Accordingly, the existence and Management on existence and valuation of Investments
valuation of investments is considered as a key • Traced the quantity held from the confirmation provided
audit matter. by Custodian with the books as at March 31, 2019
• Tested the valuation of the investments as per the
240
internal control.
during our audit.
241
report that:
Regulations.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
242
Balance Sheet
Axis Gold ETF Axis Gold ETF
March 31, 2019 March 31, 2018
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 38,807 60,207

Reserves and surplus 2(b) & 4 1,042,766 1,572,503
Current liabilities 5 19,635 45,621
1,101,208 1,678,331
Investments 2(c) , 6 & 20 1,052,620 1,616,831

Other current assets 7 48,588 61,500
1,101,208 1,678,331


Date: May 28, 2019 Head-Fixed Income Fund Manager-Gold ETF
243
Revenue Account

April 01, 2018 April 01, 2017
to to
March 31, 2019 March 31, 2018
Schedule
INCOME AND GAINS
Interest 2(d) & 8 4,349 2,900

Profit on sale/redemption of investments, net 2(d) 17,811 -
Net change in marked to market in value of investments 2(c) & 6(ii) 34,233 96,460
Total 56,393 99,360
EXPENSES AND LOSSES
Loss on sale/redemption of investments, net 2(d) - 5,260

Management fee 9 7,361 10,617
Service Tax / GST on Management Fees 1,324 1,830
Trusteeship fee 9 8 12
Investor education expense 238 346
Custodian service charges 3,501 5,181
Registrar service charges 501 735
Audit fee 140 180
Listing fee 75 127
Other operating expenses 62 69
Less: Expenses reimbursed/to be reimbursed by AMC - (7)
Total 13,210 24,350
Surplus / (Deficit) for the year 43,183 75,010

Transfer from / (to) unrealised appreciation reserve (34,233) (4,445)
Equalisation (debit) 2(e) (499,173) (192,907)
Surplus / (Deficit) transferred to the retained surplus 4 (490,223) (122,342)


244
Cash Flow Statement

Particulars Axis Gold ETF Axis Gold ETF
April 01, 2018 April 01, 2017

to to
March 31, 2019 March 31, 2018
Net Surplus / (Deficit) for the year 43,183 75,010
Adjustments for:-
Net change in marked to market in value of investments (34,233) (96,460)
(Increase)/Decrease in investments at cost 598,444 258,590
(Increase)/Decrease in net current assets (92) 85
Increase/(Decrease) in current liabilities (25,986) (1,814)
Net cash used in operations (A) 581,316 235,411

Increase/(Decrease) in unit capital (21,400) (8,500)
Increase/(Decrease) in unit premium reserve (572,920) (217,422)
Adjustments for:-
Increase/(Decrease) in subscription receivable for units
- -
issued to investors
Net cash generated from financing activities (B) (594,320) (225,922)
Net increase/(decrease) in cash and cash equivalents (A+B) (13,004) 9,489
Cash and Cash Equivalents as at the beginning of the year 61,468 51,979
Cash and Cash Equivalents as at the close of the year 48,464 61,468
Component of cash and cash equivalents
Balances with banks in current accounts 292 290

Collateralised lending / Tri-Party Repo 48,172 61,178
Total 48,464 61,468

245
1. BACKGROUND
In accordance with the Securities and Exchange Board of India ('SEBI') (Mutual Funds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of
Axis MutualFund Trustee Limited ('the Trustee') has appointedAxis Asset ManagementCompany Limited ('the AMC') to manage the Fund's affairs and operate
its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset Management Company Limited and the
balance 25% plus one equity share is held by Schroders Investment Management(Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroders
Singapore Holdings Private Limited (SSHPL), both subsidiaries of Schroders plc.
The key features of Axis Gold ETF are as below:

Scheme Name Type of Scheme Investment objective of the Scheme NFO Open
NFO Close
Axis Gold ETF An open ended scheme To generate returns that are in line with the performance of October 20, 2010
replicating/tracking Domestic gold. to
Price of Gold November 3, 2010

The financial statements are prepared on the accrual basis of accounting, under the historical cost convention,as modified for investments, which are ‘marked-
to-market’. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the
AMC and the Trustee, are stated below.

The net asset value is determined considering the daily income earned, including realised profit or loss and unrealised gain or loss in the value of investments,
and expenses accrued.

Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve.
(c) Investments
Purchase and sale of investments (gold) are recorded on the date of the transaction, at cost and sale price respectively, after considering brokerage,
commission, and fees payable, if any.
Basis the applicable rules under Goods and Service Tax (GST) Act, Gold transactions are accounted excluding GST in the books. As a result, valuation of
Investments has decreased by 1.30 % and resultant impact on unrealised appreciation/depreciation in the Scheme.
Investment in gold is valued at the AM fixing price of gold quoted on the London Bullion Market Association [LBMA] declared in US Dollars as increased by
premium and fixing charges and by converting it into Indian Rupees at the RBI reference rate, as increased by custom duty for import of gold, in accordance
with the guidelines issued by SEBI.
The net unrealized appreciation/ depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two
balance sheet dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.


When units are issued or redeemed, the distributablesurplus (excluding unit premium reserve, but including balance of distributablesurplus at the beginningof
the year) as on the date of the transaction is determined. Based on the number of units outstanding on the transaction date, the distributable surplus (excluding
unit premium reserve, but including balance of distributablesurplus at the beginningof the year) associated with each unit is computed. The per unit amount so
determined is credited / debited to the equalisation account on issue / redemption of each unit respectively.
(f) Cash and cash equivalent
(g) Cash Flow Statements

Cash Flow Statement has been prepared in accordance with accounting standard 3 'Cash Flow Statements'.
246
3. Unit Capital
March 31, 2019 March 31, 2018
Face Value Rs. 100 each fully paid up Face Value Rs. 100 each fully paid up
Quantity Amount Quantity Amount
(Rs. in 000's) (Rs. in 000's)
Initial Capital 335,072.000 33,507 335,072.000 33,507
Outstanding, beginning of year 602,072.000 60,207 687,072.000 68,707

Issued
-during the year 2,000.000 200 - -
Redeemed during the year 216,000.000 21,600 85,000.000 8,500
Outstanding, end of year 388,072.000 38,807 602,072.000 60,207
247
Rupees in '000
March 31, 2019 March 31, 2018

Balance, beginning of year 173,475 197,990
Net premium/discount on issue/redemption of units (572,920) (217,422)
Transferred to equalisation account 499,173 192,907
Balance, end of year 99,728 173,475

Balance, beginning of year 4,445 -
Change in unrealised appreciation in value of investments 34,233 4,445
Balance, end of year 38,678 4,445
Retained surplus
Balance, beginning of year 1,394,583 1,516,925
Surplus transferred from revenue account (490,223) (122,342)
Balance, end of year 904,360 1,394,583
Total reserves 1,042,766 1,572,503
Amount due to AMC
- Management fees 352 752
Trusteeship fee payable 1 1
Interscheme payable 199 -
Audit fee payable 127 165
Registrar service fees payable - 57
Value added tax payable on gold 18,444 43,547
Goods and Service tax payable on gold - 448
Investor education expense payable 18 28
Custody fees payable 276 419
Other current liabilities 218 204
19,635 45,621
6. INVESTMENTS
Gold 1,052,620 1,616,831
INVESTMENTS 1,052,620 1,616,831
1,100,792 3,459,874
(i) All the investments are held in the name of the Scheme, as per clause 7 of the Seventh Schedule under
Regulation 44(1) of SEBI (Mutual Funds) Regulations, 1996.
March 31, 2019 March 31, 2018
Gold
- appreciation 38,678 4,445
- depreciation - -
0
248
(iii) The aggregate value of investments acquired and sold during the year and these amounts as a percentage of
average daily net assets are as follows:
Rupees in '000
April 01, 2018 April 01, 2017
to to
March 31, 2019 March 31, 2018
Purchases - Gold
- amount 37,409 -
- as a percentage of average daily net assets 3.14% -
Sales - Gold
- amount 646,938 249,687
- as a percentage of average daily net assets 54.27% 14.44%
Rupees in '000
March 31, 2019 March 31, 2018
Balances with banks in current accounts 292 290

Amount due from AMC - 7
Goods and Service tax receivable on gold 96 -
Other current assets 28 25
48,588 61,500
April 01, 2018 April 01, 2017

to to
March 31, 2019 March 31, 2018
8. INTEREST

4,349 2,900

The Scheme pays fees for investment management services under an agreement with the AMC, which provides for
computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the
investments by the AMC in the scheme, the net asset value of the investments made in other schemes as applicable.
During the year ended March 31, 2019, Axis Gold ETF has paid management fee (excluding Service Tax/ GST) at an
average annualised rate of 0.62 percent (previous year 0.62 percent).
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per
month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the
schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per
annum on average net assets of all the schemes.
249
The total income and expenditure and these amounts as a percentage of the scheme's average daily net assets on an
annualised basis are provided below:
Rupees in '000
April 01, 2018 April 01, 2017
to to
March 31, 2019 March 31, 2018
Income (net off realised loss on sale of investment and excluding net change in
marked to market in value of investments)
- amount 22,160 (2,360)
- as a percentage of average daily net assets 1.86% -0.14%
- amount 13,210 19,090
- as a percentage of average daily net assets 1.11% 1.10%
250
(i) Axis Gold ETF has entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18 on 'Related Party Disclosures'
issued by the Institute of Chartered Accountants of India is provided below;


Axis Long Term Equity Fund Axis Nifty ETF
Axis Regular Saver Fund Axis Dynamic Equity Fund
Axis Triple Advantage Fund Axis Equity Advantage Fund - Series 2
Axis Midcap Fund Axis Multicap Fund
Axis Dynamic Bond Fund Axis Capital Builder Fund - Series 1 (1540 Days)
Axis Gold Fund Axis Fixed Term Plan – Series 92 (154 Days)
Axis Focused 25 Fund Axis Equity Hybrid Fund
Axis Credit Risk Fund Axis Ultra Short Term Fund
(b) Transactions covered by Accounting Standard-18

Rupees in '000
Year ended Year ended Balance as at Balance as at
Name of Related Party Nature of transactions March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018
Axis Asset Management Company Limited Service Tax/GST) 8,685 12,447 352 752
Axis Asset Management Company Limited Receivable for other expenses - - 7
Axis Asset Management Company Limited Subcription of units at NAV - - 5,574 5,487
Axis Securities Limited Subscription of units at NAV - - - 83
Axis Triple Advantage Fund Subcription of units at NAV - - 321,929 802,548
Axis Triple Advantage Fund Redemption of units at NAV 492,048 80,631 - -
Axis Gold Fund Subcription of units at NAV - - 457,095 521,306
Axis Gold Fund Redemption of units at NAV 71,886 116,189 - -
Rupees in '000
their relatives of AMC (Nature of relation) Axis Gold ETF Axis Gold ETF
Year ended Year ended
March 31, 2019 March 31, 2018
Bank charges # 1
Rupees in '000
companies
March 31, 2019 March 31, 2018
Axis Bank Limited *
Investment made by the Scheme - -
Investment made by other schemes 19,656 5,250,231
Total investments 19,656 5,250,231
251
13. NET ASSET VALUE

Rupees
Scheme name Axis Gold ETF Axis Gold ETF
March 31, 2019 March 31, 2018
Face Value Rs. 100 Face Value Rs. 100
Axis Gold ETF 2,787.0420 2,711.8181


The scheme operates in one segment only viz. to generate returns that are in line with the performance of gold.

Rupees in '000
Particulars Axis Gold ETF
March 31, 2019 March 31, 2018
Total Reserves 1,042,766 1,572,503
38,678 4,445
plan level
Net premium/discount on issue/redemption of units 99,728 173,475
Distributable Surplus 904,360 1,394,583

In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in
each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI has been transferred to AMFI and balance 50%, transferred to a
separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) /
Treps (Tri-Party Repo).

Rupees in '000
Additions during the year * 175,535 145,896
Rupees in '000
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
Unclaimed dividend and redemption gets transferred from schemes to separate pool account and is maintained separately. This disclosure has been carried out in the financial
statements for all the schemes at pool level.

252
To the Trustees of
Axis Mutual Fund – Axis Capital Protection Oriented Fund - Series 5
Opinion
We have audited the accompanying financial statements of Axis Capital Protection Oriented Fund - Series 5 (“the
Basis for Opinion
Key Audit Matters
253
March 31, 2019 mainly comprised of listed and existence and valuation of investments
unlisted debt instruments and option. • Assessed the design and implementation of controls over
254
internal control.
during our audit.
255
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
256
To the Trustees of
Axis Mutual Fund – Axis Hybrid Fund - Series 5 (1346 Days)
Opinion
We have audited the accompanying financial statements of Axis Hybrid Fund - Series 5 (1346 Days) (“the
Basis for Opinion
Key Audit Matters
257
unlisted debt instruments and options. • Assessed the design and implementation of controls over
258
internal control.
during our audit.
259
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
260
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
261
262
internal control.
during our audit.
263
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
264
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
265
266
internal control.
during our audit.
267
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
268
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
269
270
internal control.
during our audit.
271
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
272
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
273
274
internal control.
during our audit.
275
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
276
Balance Sheet
AXIS HYBRID AXIS CAPITAL AXIS CAPITAL

AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
FUND - PROTECTION PROTECTION
FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES 5 FUND - SERIES 5 FUND - SERIES 6 FUND - SERIES 6 FUND - SERIES 7 FUND - SERIES 7
SERIES 27 ORIENTED FUND - ORIENTED FUND -
27 (1351 DAYS) 28 (1331 DAYS) 28 (1331 DAYS) (1346 DAYS) (1346 DAYS) (1324 DAYS) (1324 DAYS) (1305 DAYS) (1305 DAYS)
(1351 DAYS) SERIES 5 SERIES 5
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 2,761,115 2,761,115 2,281,999 2,281,999 71,793 71,793 32,209 32,209 37,532 37,532 356,777 356,777
Reserves and surplus 2(b) & 4 643,557 416,746 657,696 406,745 24,758 20,475 12,491 10,435 14,515 12,142 231,474 178,702
Current liabilities 5 5,380 5,059 4,794 4,322 210 247 157 161 229 235 925 1,010
3,410,052 3,182,920 2,944,489 2,693,066 96,761 92,515 44,857 42,805 52,276 49,909 589,176 536,489
Investments 2(c), 6 and 22 2,895,067 3,104,558 2,747,352 2,617,818 84,373 74,452 39,523 30,119 46,168 36,376 504,906 503,811
Other current assets 7 514,985 78,362 197,137 75,248 12,388 18,063 5,334 12,686 6,108 13,533 84,270 32,678
3,410,052 3,182,920 2,944,489 2,693,066 96,761 92,515 44,857 42,805 52,276 49,909 589,176 536,489

277
Jinesh Gopani Ashish Naik

Head-Equity Fund Manager-Equity

Revenue Account
AXIS CAPITAL AXIS CAPITAL
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
PROTECTION PROTECTION
FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES 28 FUND - SERIES 5 FUND - SERIES 5 FUND - SERIES 6 FUND - SERIES 6 FUND - SERIES 7 FUND - SERIES 7
ORIENTED FUND - ORIENTED FUND -
27 (1351 DAYS) 27 (1351 DAYS) 28 (1331 DAYS) (1331 DAYS) (1346 DAYS) (1346 DAYS) (1324 DAYS) (1324 DAYS) (1305 DAYS) (1305 DAYS)
SERIES 5 SERIES 5
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017
Schedule
INCOME AND GAINS
Interest 2(d) & 8 234,255 224,353 185,498 176,215 6,769 6,238 3,119 2,852 3,647 3,357 35,908 34,216
Profit on sale/redemption of investments (including F&O), net 2(d) 57,058 1,591 22,086 - - - - - - - - -
Profit on inter-scheme transfer/sale of investments, net 2(d) 1,380 - - 314 - - - - - - - -
Net change in marked to market in value of investments 2(c) & 6(ii) 11,124 74,756 116,134 75,237 300 (637) 100 (238) 124 (309) 31,385 14,522
Total 303,817 300,700 323,718 251,766 7,069 5,601 3,219 2,614 3,771 3,048 67,293 48,738
EXPENSES AND LOSSES
Loss on sale/redemption of investments (including F&O), net 2(d) - - - - 445 - 99 - 143 - 281 -
Loss on inter-scheme transfer/sale of investments, net 2(d) - 211 6,868 - - - - - - - - -
Management fee 9 48,430 62,768 41,736 53,535 1,389 2,132 570 981 698 1,148 9,249 12,357
Service Tax / GST on Management Fees 8,718 10,849 7,512 9,253 250 368 102 169 126 199 1,664 2,134
Trusteeship fee 9 22 22 19 18 1 1 # # # # 4 4
Investor education expense 664 628 562 532 18 18 8 8 10 10 112 106
Custodian service charges 154 380 130 322 4 11 2 5 2 6 26 64
Registrar service charges 1,500 1,474 1,269 1,248 31 64 15 30 17 34 390 374
Commission to distributors 17,260 - 14,426 - 537 - 258 - 291 - 2,671 -
Audit fee 96 90 96 89 94 90 94 89 94 90 95 89
278
Listing fee 39 40 39 39 14 14 14 15 14 15 14 26
Other operating expenses 123 87 110 73 3 45 1 42 3 41 15 18
Less: Expenses reimbursed/to be reimbursed by AMC - (207) - (193) - (178) - (160) - (163) - (193)
Total 77,006 76,342 72,767 64,916 2,786 2,565 1,163 1,179 1,398 1,380 14,521 14,979
Surplus / (Deficit) for the year 226,811 224,358 250,951 186,850 4,283 3,036 2,056 1,435 2,373 1,668 52,772 33,759
Transfer from / (to) unrealised appreciation reserve (11,124) (74,234) (116,134) (75,237) - 76 - 31 - 38 (31,385) (14,523)
Surplus transferred to the retained surplus 4 215,687 150,124 134,817 111,613 4,283 3,112 2,056 1,466 2,373 1,706 21,387 19,236



Cash Flow Statement

AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND -
Particulars - SERIES 27 (1351 FUND - SERIES FUND - SERIES 28 FUND - SERIES 28 - SERIES 5 (1346 - SERIES 5 (1346 FUND - SERIES 6 FUND - SERIES 6 FUND - SERIES 7 SERIES 7 (1305
DAYS) 27 (1351 DAYS) (1331 DAYS) (1331 DAYS) DAYS) DAYS) (1324 DAYS) (1324 DAYS) (1305 DAYS) DAYS)
SERIES 5 SERIES 5
Net Surplus / (Deficit) for the year 226,811 224,358 250,951 186,850 4,283 3,036 2,056 1,435 2,373 1,668 52,772 33,759
Adjustments for:-
Net change in marked to market in value of investments (11,124) (74,756) (116,134) (75,237) (300) 637 (100) 238 (124) 309 (31,385) (14,522)
(Increase)/Decrease in investments at cost 220,615 (153,315) (13,400) (116,610) (9,621) (47,102) (9,304) (18,353) (9,668) (22,691) 30,290 (19,942)
(Increase)/Decrease in other current assets 5,272 (15,780) (4,381) (5,906) (553) (1,714) (610) (641) (591) (578) 124 (966)
Increase/(Decrease) in current liabilities 321 2,876 472 2,446 (37) 13 (4) (12) (6) (7,144) (85) 210
Net cash used in operations (A) 441,895 (16,617) 117,508 (8,457) (6,228) (45,130) (7,962) (17,333) (8,016) (28,436) 51,716 (1,461)
Net cash generated from financing activities (B) - - - - - - - - - - - -
Net increase/(decrease) in cash and cash equivalents (A+B) 441,895 (16,617) 117,508 (8,457) (6,228) (45,130) (7,962) (17,333) (8,016) (28,436) 51,716 (1,461)
Cash and Cash Equivalents as at the beginning of the year 10,312 26,929 17,039 25,496 15,842 60,972 11,781 29,114 12,423 40,859 13,351 14,812
Cash and cash equivalents as at the close of the year 452,207 10,312 134,547 17,039 9,614 15,842 3,819 11,781 4,407 12,423 65,067 13,351
Balances with banks in current accounts 39 3 12 4 1 4 1 4 63 65 16 13

279
Total 452,207 10,312 134,547 17,039 9,614 15,842 3,819 11,781 4,407 12,423 65,067 13,351
As per our report of even date. - - -


1. BACKGROUND
In accordance with the Securities and Exchange Board of India ('SEBI') (Mutual Funds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of Axis Mutual
Fund Trustee Limited ('the Trustee') has appointed Axis Asset Management Company Limited ('the AMC') to manage the Fund's affairs and operate its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset ManagementCompany Limited and the balance 25%
plus one equity share is held by Schroders Investment Management(Singapore) Limited (SIMSL)through its wholly owned subsidiary, Schroders Singapore Holdings Private
Limited (SSHPL), both subsidiaries of Schroders plc.
NFO Close
Axis Hybrid Fund - Series 27 A close ended debt scheme To generate income by investing in high quality fixed income October 09, 2015 Growth
(1351 Days) securities that are maturing on or before the maturity of the to Dividend
Scheme whilst the secondary objective is to generate October 23, 2015 Direct Growth
capital appreciation by investing in equity and equity related Direct Dividend
instruments. However, there is no assurance or guarantee
achieved. The Scheme does not assure or guarantee any
returns.
Axis Hybrid Fund - Series 28 A close ended debt scheme To generate income by investing in high quality fixed income October 27, 2015 Growth
Scheme whilst the secondary objective is to generate November 10, 2015 Direct Growth
returns.
Axis Hybrid Fund - Series 5 A close ended debt scheme To generate income by investing in high quality fixed income July 05, 2013 Growth
(1346 Days) {formerly known securities that are maturing on or before the maturity of the to Dividend
as Axis Hybrid Fund - Series 5} Scheme whilst the secondary objective is to generate July 19, 2013 Direct Growth
instruments.
Axis Hybrid Fund - Series 6 A close ended debt scheme To generate income by investing in high quality fixed income July 25, 2013 Growth
as Axis Hybrid Fund - Series 6} Scheme whilst the secondary objective is to generate August 8, 2013 Direct Growth
instruments.
Axis Hybrid Fund - Series 7 A close ended debt scheme To generate income by investing in high quality fixed income August 16, 2013 Growth
as Axis Hybrid Fund - Series 7} Scheme whilst the secondary objective is to generate August 30, 2013 Direct Growth
instruments.
Axis Capital Protection A 42 months close ended To protect the capital by investing in a portfolio of debt & October 15, 2012 Growth
Oriented Fund - Series 5 capital protection oriented money market instruments that are maturing on or before to Dividend
scheme the maturity of the Scheme. The scheme also aims to October 29, 2012
provide capital appreciation through exposure in equity &
equity related instruments.
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each other, or are
interdependent or comparable in any way.
The financial statements are prepared on the accrual basis of accounting, under the historical cost convention,as modified for investments, which are ‘marked-to-market’.
The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the AMC and the Trustee, are
stated below.
The net asset value of the units are determined separately for the units issued under the plans.
For reporting the net asset value within the portfolio, the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the value of
investments, and expenses accrued, are allocated to the related plans in proportion to their respective daily net assets arrived at by multiplying day-end outstanding units by
previous day's closing NAV.

(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction costs, CCIL charges
and any other charges customarily included in the broker’s note. Capitalisation of such brokerage and transaction costs incurred for the purpose of execution of trades is
restricted to 12 bps in case of cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of the specified limit is charged to the revenue
account of the scheme as part of the total expense ratio.
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest receivable and
debited to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is credited to ‘Accrued Income
Account’.
280

Investments in equity and equity related securities which have traded during a period of thirty days (prior to the balance sheet date) are stated at the closing prices on the
balance sheet date or the last trading day before the balance sheet date, as may be applicable,on The National Stock Exchange of India Limited (principal stock exchange).
When on a particular valuationday, a security has not been traded on the principal stock exchange, the value at which it is traded on The Bombay Stock Exchange Limited is
used.
Options / futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available on valuation
date on the respective stock exchange, settlement price is considered for valuation. Futures contracts, which are going to expire on valuationdate are valued at settlement
price.
Non traded and thinly traded equity shares / warrants, including those not traded within thirty days prior to the balance sheet date are valued at the fair value as determined
by the AMC under procedures approved by the Trustee of Axis Mutual Fund in accordance with the SEBI Regulations.
Units of listed mutual fund schemes, which are traded, are valued at the closing traded price on the respective stock exchange (where the scheme is listed) as on the
valuationdate. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published on AMFIwebsite as on
the valuation date.
Government securities (including State Development Loans) are valued at the average of the prices released by CRISIL and ICRA, as suggested by AMFI, on the basis of the
valuation principles laid down by SEBI.
Treasury Bills (including cash management bills) with residual maturity greater than 60 days, are valued at the average of the prices released by CRISIL and ICRA, as
suggested by AMFI,on the basis of the valuation principles laid down by SEBI. The difference between last traded/valuedprice and next business day's (T+1) aggregated
price received from CRISIL and ICRA is amortised linearly upto the day preceding the next business day.
Treasury bills (including cash management bills) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes managed
by the AMC. If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost based on
purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuationis within a
±0.10% band of the price derived as per the reference yields providedby the Valuation Agencies (CRISIL and ICRA). In case the amortized value is outside the above band,
the YTM of the security is adjusted to bring the price within the ±0.10% band.
All debt securities (including Bills Purchased under rediscounting schemes) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades
done by schemes managed by the AMC. If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of
amortized cost based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long
as the valuationis within a ±0.10% band of the price derived as per the reference yields provided by the Valuation Agencies (CRISIL and ICRA). In case the amortized value
is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.
All debt securities (including Bills Purchased under rediscounting schemes) with residual maturity greater than 60 days, are valued using the simple average of the prices
released by CRISIL and ICRA, as suggested by AMFI.In case of new purchases which are not a part of the list of CRISIL and ICRA security level pricing, such securities are
valued at weighted average cost/yield on the day of purchase.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two balance
sheet dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.
(e) Cash and cash equivalent
(f) Cash Flow Statements
281
3. Unit Capital AXISH27 AXISH28
AXIS HYBRID FUND - SERIES 27 AXIS HYBRID FUND - SERIES 27 AXIS HYBRID FUND - SERIES 28 AXIS HYBRID FUND - SERIES 28 (1331
(1351 DAYS) (1351 DAYS) (1331 DAYS) DAYS)
Initial Capital 276,111,453.000 2,761,115 276,111,453.000 2,761,115 228,199,871.000 2,281,999 228,199,871.000 2,281,999
Growth
Outstanding, beginning of year 270,876,288.000 2,708,763 270,876,288.000 2,708,763 222,412,314.000 2,224,123 222,412,314.000 2,224,123
Issued
RG-during the year - - - - - - - -
RGRedeemed during the year - - - - - - - -
RGOutstanding, end of year 270,876,288.000 2,708,763 270,876,288.000 2,708,763 222,412,314.000 2,224,123 222,412,314.000 2,224,123
Dividend
Outstanding, beginning of year 4,848,190.000 48,482 4,848,190.000 48,482 5,481,097.000 54,811 5,481,097.000 54,811
Issued
282
RD-during the year - - - - - - - -
RDRedeemed during the year - - - - - - - -
RDOutstanding, end of year 4,848,190.000 48,482 4,848,190.000 48,482 5,481,097.000 54,811 5,481,097.000 54,811
Direct Growth
Outstanding, beginning of year 385,975.000 3,860 385,975.000 3,860 301,460.000 3,015 301,460.000 3,015
ZG Issued
ZG -during the year - - - - - - - -
ZG Redeemed during the year - - - - - - - -
ZG Outstanding, end of year 385,975.000 3,860 385,975.000 3,860 301,460.000 3,015 301,460.000 3,015
Direct Dividend
Outstanding, beginning of year 1,000.000 10 1,000.000 10 5,000.000 50 5,000.000 50
ZD Issued
ZD -during the year - - - - - - - -
ZD Redeemed during the year - - - - - - - -
ZD Outstanding, end of year 1,000.000 10 1,000.000 10 5,000.000 50 5,000.000 50
Total
Issued
-during the year - - - - - - - -
Redeemed during the year - - - - - - - -
Outstanding, end of year 276,111,453.000 2,761,115 276,111,453.000 2,761,115 228,199,871.000 2,281,999 228,199,871.000 2,281,999
3. Unit Capital (Contd.) AXISHS5 AXISHS6
AXIS HYBRID FUND - SERIES 5 (1346 AXIS HYBRID FUND - SERIES 5 (1346 AXIS HYBRID FUND - SERIES 6 (1324 AXIS HYBRID FUND - SERIES 6
DAYS) DAYS) DAYS) (1324 DAYS)
Initial Capital 283,991,971.000 2,839,919 283,991,971.000 2,839,919 244,460,443.000 2,444,605 244,460,443.000 2,444,605
Growth
Issued
RGOutstanding, end of year 6,973,051.358 69,731 6,973,051.358 69,731 3,141,409.351 31,414 3,141,409.351 31,414
Dividend
Outstanding, beginning of year 193,203.000 1,932 193,203.000 1,932 39,480.000 395 39,480.000 395
Issued
RD-during the year - - - - - - - -
283
RDOutstanding, end of year 193,203.000 1,932 193,203.000 1,932 39,480.000 395 39,480.000 395
Direct Growth
Outstanding, beginning of year 13,000.000 130 13,000.000 130 40,000.000 400 40,000.000 400
ZG Issued
ZG -during the year - - - - - - - -
ZG Outstanding, end of year 13,000.000 130 13,000.000 130 40,000.000 400 40,000.000 400
Direct Dividend
Outstanding, beginning of year - - - - - - - -
ZD Issued
ZD -during the year - - - - - -
ZD Redeemed during the year - - - - - -
ZD Outstanding, end of year - - - - - -
Total
Issued
Outstanding, end of year 7,179,254.358 71,793 7,179,254.358 71,793 3,220,889.351 32,209 3,220,889.351 32,209
3. Unit Capital (Contd.) AXISHS7 AXISCP5

AXIS HYBRID FUND - SERIES 7 AXIS HYBRID FUND - SERIES 7 (1305 AXIS CAPITAL PROTECTION AXIS CAPITAL PROTECTION
(1305 DAYS) DAYS) ORIENTED FUND - SERIES 5 ORIENTED FUND - SERIES 5
Initial Capital 237,555,963.000 2,375,559 237,555,963.000 2,375,559 258,294,466.000 2,582,944 258,294,466.000 2,582,944
Growth
Issued
RGOutstanding, end of year 3,753,184.985 37,532 3,753,184.985 37,532 26,424,694.177 264,247 26,424,694.177 264,247
Dividend
Outstanding, beginning of year - - 9,253,000.497 92,530 9,253,000.497 92,530
284
Issued
RD-during the year - - - - - -
RDRedeemed during the year - - - - - -
RDOutstanding, end of year - - 9,253,000.497 92,530 9,253,000.497 92,530
Direct Growth
Outstanding, beginning of year - - - -
ZG Issued
ZG -during the year - - - -
ZG Redeemed during the year - - - -
ZG Outstanding, end of year - - - -
Direct Dividend
Outstanding, beginning of year - - - -
ZD Issued
ZD -during the year - - - -
ZD Redeemed during the year - - - -
ZD Outstanding, end of year - - - -
Total
Issued
Outstanding, end of year 3,753,184.985 37,532 3,753,184.985 37,532 35,677,694.674 356,777 35,677,694.674 356,777
Rupees in '000
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID FUND -
FUND - SERIES 27 FUND - SERIES 27 FUND - SERIES 28 FUND - SERIES 28 FUND - SERIES 5 FUND - SERIES 5 FUND - SERIES 6 - SERIES 6 (1324 FUND - SERIES 7 SERIES 7 (1305
(1351 DAYS) (1351 DAYS) (1331 DAYS) (1331 DAYS) (1346 DAYS) (1346 DAYS) (1324 DAYS) DAYS) (1305 DAYS) DAYS)
SERIES 5 SERIES 5

Balance, beginning of year 74,234 - 143,401 68,164 - 76 - 31 - 38 31,743 17,220
Unrealised appreciation in value of investments 11,124 74,234 116,134 75,237 - (76) - (31) - (38) 31,385 14,523
Balance, end of year 85,358 74,234 259,535 143,401 - - - - - - 63,128 31,743
Retained surplus
Balance, beginning of year 342,512 192,388 263,344 151,731 20,475 17,363 10,435 8,969 12,142 10,436 146,959 127,723
Surplus transferred from revenue account 215,687 150,124 134,817 111,613 4,283 3,112 2,056 1,466 2,373 1,706 21,387 19,236
Balance, end of year 558,199 342,512 398,161 263,344 24,758 20,475 12,491 10,435 14,515 12,142 168,346 146,959
Total reserves 643,557 416,746 657,696 406,745 24,758 20,475 12,491 10,435 14,515 12,142 231,474 178,702
The share of the plans in the reserves and

surplus is as follows:
RG Growth 631,143 408,706 640,844 396,319 24,037 19,880 12,151 10,153 14,515 12,142 171,442 132,356
RD Dividend 11,296 7,315 15,793 9,767 666 550 153 128 - - 60,032 46,346
ZG Direct Growth 1,115 723 1,042 648 55 45 187 154 - -
ZD Direct Dividend 3 2 17 11 - - - - - -
643,557 416,746 657,696 406,745 24,758 20,475 12,491 10,435 14,515 12,142 231,474 178,702
285
Amount due to AMC
- Management fees 1,365 4,726 1,447 4,027 - 149 - 69 - 80 204 857
Trusteeship fee payable 2 2 1 2 # # - # - # # #
Registrar service fees payable 61 117 52 99 4 5 2 2 2 3 26 30
Custody fees payable 16 35 14 30 - 1 - # - 1 3 6
Investor education expense payable 58 54 50 46 2 2 - # - # 10 10
Other current liabilities 3,792 44 3,144 37 118 9 69 8 141 70 596 26
5,380 5,059 4,794 4,322 210 247 157 161 229 235 925 1,010
6. INVESTMENTS
Privately placed / unlisted debentures and bonds 99,163 378,377 - - 9,529 15,756 4,765 5,400 4,765 6,391 - -
Listed debentures and bonds 2,185,122 2,189,223 1,590,654 2,077,885 69,200 58,696 32,189 24,719 38,445 29,985 366,609 400,449
Certificates of deposit 369,098 - 575,478 - - - - - - - - -
Options 241,684 536,958 581,220 539,933 5,644 - 2,569 - 2,958 - 138,297 103,362
INVESTMENTS 2,895,067 3,104,558 2,747,352 2,617,818 84,373 74,452 39,523 30,119 46,168 36,376 504,906 503,811
Rupees in '000
SERIES 5 SERIES 5
- appreciation 811 513 - - - - - - - - - -
- depreciation - - - - 90 127 45 31 45 44 - -
- appreciation 2,111 13,376 95 9,093 166 18 70 9 71 9 152 611
- depreciation 6,872 15,547 6,628 20,641 663 452 274 185 355 236 5,110 2,020
- appreciation - - 246 - - - - - - - - -
- depreciation 36 - 31 - - - - - - - - -
Options
- appreciation 89,344 75,892 265,853 154,949 326 - 142 - 182 - 68,086 33,152
- depreciation - - - - - - - - - - - -
(iii) The aggregate value of investments acquired and sold/redeemed/expired during the year and these amounts as a percentage of average daily net assets are as follows:
Rupees in '000
286
SERIES 5 SERIES 5
- amount 2,294,866 856,831 1,597,409 329,480 17,578 58,527 10,495 27,723 11,515 32,061 9,989 19,942
- amount - - - - 5,316 - 2,426 - 2,775 - - -
- as a percentage of average daily net assets - - - - 5.71% - 5.63% - 5.53% - - -
Sales (excluding collateralised lending/Tri-Party Repo,

- amount 2,287,108 815,857 1,548,384 264,979 13,596 12,500 3,903 10,000 4,863 10,000 40,000 -
- as a percentage of average daily net assets 68.82% 25.97% 55.02% 9.96% 14.60% 13.76% 9.05% 23.83% 9.69% 20.45% 7.16% -
- amount 386,970 - 107,993 - - - - - - - - -
- as a percentage of average daily net assets 11.64% - 3.84% - - - - - - - - -
- - - - - - -
(iv) The aggregate purchases made by all schemes of the fund during the current year, previous year and the fair value of such investments as at March 31, 2018 in companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in
Attachment 1.
Rupees in '000

SERIES 5 SERIES 5
2,895,067 3,104,559 2,747,353 2,617,818 80,382 74,452 37,527 30,119 43,175 36,376 504,905 503,811
Rupees in '000

AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID FUND - PROTECTION PROTECTION
FUND - SERIES 27 FUND - SERIES 27 FUND - SERIES 28 FUND - SERIES 28 FUND - SERIES 5 FUND - SERIES 5 FUND - SERIES 6 - SERIES 6 (1324 FUND - SERIES 7 SERIES 7 (1305 ORIENTED FUND - ORIENTED FUND -
(1351 DAYS) (1351 DAYS) (1331 DAYS) (1331 DAYS) (1346 DAYS) (1346 DAYS) (1324 DAYS) DAYS) (1305 DAYS) DAYS) SERIES 5 SERIES 5
Balances with banks in current accounts 39 3 12 4 1 4 1 4 63 65 16 13

Outstanding and accrued income 62,761 67,843 62,578 58,016 2,713 2,043 1,402 745 1,595 947 19,203 19,134
Amount due from AMC 17 207 12 193 61 178 113 160 106 163 - 193
514,985 78,362 197,137 75,248 12,388 18,063 5,334 12,686 6,108 13,533 84,270 32,678
287
8. INTEREST
Money market instruments 1,929 - 1,594 - - - - - - - - -

Debentures and bonds 223,373 222,981 179,838 175,126 6,300 4,149 2,843 1,737 3,361 2,094 34,791 33,395
Government securities (including treasury bills) - - - - - 310 - 248 - 248 - -
Collateralised lending / Tri-Party Repo 8,953 1,372 4,066 1,089 469 1,779 276 867 286 1,015 1,116 821
234,255 224,353 185,498 176,215 6,769 6,238 3,119 2,852 3,647 3,357 35,907 34,216
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made
in other schemes and fixed deposits including interest thereon as applicable. During the year ended March 31, 2019, the Schemes have paid management fee at annualised average rate as follows:

SERIES 5 SERIES 5
annualised average rate 1.46% 2.00% 1.48% 2.01% 1.49% 2.35% 1.32% 2.34% 1.39% 2.35% 1.66% 2.33%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is
subject to the ceiling of 0.10% per annum on average net assets of all the schemes.

SERIES 5 SERIES 5
Income (net off realised loss on sale of investment
and excluding net change in marked to market in
value of investments)
- amount 292,693 225,733 200,716 176,529 6,324 6,238 3,020 2,852 3,504 3,357 35,627 34,216

investment)
- amount 77,006 76,131 65,899 64,916 2,341 2,565 1,064 1,179 1,255 1,380 14,240 14,979
288
(i) The Schemes have entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18 on 'Related Party
Disclosures' issued by the Institute of Chartered Accountants of India is provided below.


289
Axis Credit Risk Fund Axis Growth Opportunities Fund
Axis Equity Saver Fund Axis Capital Builder Fund - Series 4 (1582 Days)

(c) Transactions other than interscheme transactions covered by Accounting Standard-18: Rupees in '000
AXIS HYBRID FUND - SERIES 27 (1351 DAYS) AXIS HYBRID FUND - SERIES 28 (1331 DAYS) AXIS HYBRID FUND - SERIES 5 (1346 DAYS)
Axis Mutual Fund Trustee Limited Fees for trusteeship services 22 22 2 2 19 18 1 2 1 1 # #

Axis Asset Management Company Limited (including Service Tax/GST) 57,148 73,617 1,365 4,730 49,248 62,788 1,447 4,031 1,639 2,500 - 149
Axis Asset Management Company Limited Receivable for other expenses - - 17 207 - - 12 193 - - 61 178
Axis Bank Limited Sale of securities - - - - - - - - - - - -
Rupees in '000
AXIS HYBRID FUND - SERIES 6 (1324 DAYS) AXIS HYBRID FUND - SERIES 7 (1305 DAYS) AXIS CAPITAL PROTECTION ORIENTED FUND - SERIES 5
Axis Mutual Fund Trustee Limited Fees for trusteeship services # # # # # # # # 4 4 # #

Axis Asset Management Company Limited (including Service Tax/GST) 672 1,150 - 69 824 1,347 - 80 10,913 14,491 204 858
Axis Asset Management Company Limited Receivable for other expenses - - 113 160 - - 106 163 - - - 193
Axis Bank Limited Purchase of securities - - - - - - - - - - - -
Rupees in '000
Name of sponsor, associates, employees AXIS CAPITAL AXIS CAPITAL
or their relatives of AMC (Nature of AXIS HYBRID FUND - AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
relation) SERIES 27 (1351 FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES 5 FUND - SERIES 5 FUND - SERIES 6 FUND - SERIES 6 FUND - SERIES 7 FUND - SERIES 7
DAYS) 27 (1351 DAYS) 28 (1331 DAYS) 28 (1331 DAYS) (1346 DAYS) (1346 DAYS) (1324 DAYS) (1324 DAYS) (1305 DAYS) (1305 DAYS)
290
SERIES 5 SERIES 5
Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended Year ended
Professional clearing member charges - - - - - - - - - - - -
Bank charges # # # # # # # # # # # #
Commission paid on distribution of units 16,431 # 13,376 # 467 # 224 # 263 # 2,421 #
Commission paid on distribution of units 17 # 3 # - # - # - # # #
# Amount less than Rs. 0.5 thousand - - - -
Associate have been paid commission on normal commercial terms at a basis of an arm's length for procuring unit subscriptions for the Schemes.
F.Y. 2018-2019 - Nil
F.Y. 2017-2018 - Nil
Rupees in '000
companies AXIS HYBRID FUND - AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
SERIES 27 (1351 FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES 5 FUND - SERIES 5 FUND - SERIES 6 FUND - SERIES 6 FUND - SERIES 7 FUND - SERIES 7
DAYS) 27 (1351 DAYS) 28 (1331 DAYS) 28 (1331 DAYS) (1346 DAYS) (1346 DAYS) (1324 DAYS) (1324 DAYS) (1305 DAYS) (1305 DAYS)
SERIES 5 SERIES 5
Axis Bank Limited *
Investment made by the Scheme - - - - - - - - - - - -

14. NET ASSET VALUE
Rupees
FUND - SERIES 27 FUND - SERIES FUND - SERIES FUND - SERIES 28 FUND - SERIES 5 FUND - SERIES 5 FUND - SERIES 6 FUND - SERIES 6 FUND - SERIES 7 FUND - SERIES 7
(1351 DAYS) 27 (1351 DAYS) 28 (1331 DAYS) (1331 DAYS) (1346 DAYS) (1346 DAYS) (1324 DAYS) (1324 DAYS) (1305 DAYS) (1305 DAYS)
SERIES 5 SERIES 5
Options
RG Growth 12.3300 11.5088 12.8813 11.7819 13.4473 12.8511 13.8681 13.2323 13.8674 13.2351 16.4879 15.0088
RD Dividend 12.3300 11.5088 12.8813 11.7819 13.4451 12.8490 13.8728 13.2368 - - 16.4879 15.0087
ZG Direct Growth 12.8880 11.8743 13.4581 12.1482 14.2273 13.4427 14.6688 13.8387 - -
ZD Direct Dividend 12.8929 11.8757 13.4576 12.1487 - - - - - -
The net asset value of the Scheme’s units are determined separately for units issued under the plans after including the respective unit capital and reserves and surplus.

Contingent liabilities as on March 31, 2019: NIL (Previous year: NIL)
16.
SEGMENT REPORTING

There were no transactions in credit default swaps during the year ended March 31, 2019. (Previous year: NIL)
291
Rupees in '000

FUND - SERIES 27 FUND - SERIES FUND - SERIES FUND - SERIES 28 FUND - SERIES 5 FUND - SERIES 5 FUND - SERIES 6 FUND - SERIES 6 FUND - SERIES 7 FUND - SERIES 7
(1351 DAYS) 27 (1351 DAYS) 28 (1331 DAYS) (1331 DAYS) (1346 DAYS) (1346 DAYS) (1324 DAYS) (1324 DAYS) (1305 DAYS) (1305 DAYS)
SERIES 5 SERIES 5
Particulars
Total Reserves
643,557 416,746 657,696 406,745 24,758 20,475 12,491 10,435 14,515 12,142 231,474 178,702
Less : Unrealised appreciation on
investments as on Balance sheet date at
portfolio level
85,358 74,234 259,535 143,401 - - - - - - 63,128 31,743
558,199 342,512 398,161 263,344 24,758 20,475 12,491 10,435 14,515 12,142 168,346 146,959
In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI
has been transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) / Treps (Tri-Party Repo).
Rupees in '000


Rupees in '000
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
Unclaimed dividend and redemption gets transferred from schemes to separate pool account and is maintained separately. This disclosure has been carried out in the financial
statements for all the schemes at pool level.
Prior period figures have been reclassified and regrouped, wherever applicable, to conform to current year's presentation.
292


To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
293
294
internal control.
during our audit.
295
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
296
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
297
298
internal control.
during our audit.
299
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
300
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
301
302
internal control.
during our audit.
303
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
304
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
305
306
internal control.
during our audit.
307
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
308
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
309
310
internal control.
during our audit.
311
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
312
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
313
314
internal control.
during our audit.
315
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
316
Balance Sheet
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
FUND - FUND - FUND - FUND -
FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES
SERIES 30 SERIES 31 SERIES 33 SERIES 35
29 (1275 DAYS) 29 (1275 DAYS) 30 (1297 DAYS) 31 (1381 DAYS) 32 (1367 DAYS) 32 (1367 DAYS) 33 (1358 DAYS) 35 (1359 DAYS)
(1297 DAYS) (1381 DAYS) (1358 DAYS) (1359 DAYS)
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 859,267 859,267 1,076,967 1,076,967 2,278,837 2,278,837 3,382,549 3,382,549 3,309,719 3,309,719 1,746,051 1,746,051
Reserves and surplus 2(b) & 4 298,014 190,418 431,858 287,880 441,482 264,332 631,103 368,753 633,716 305,490 434,814 243,936
Current liabilities 5 1,910 1,854 2,363 2,332 4,692 4,355 6,843 6,325 7,559 6,097 4,041 3,444
1,159,191 1,051,539 1,511,188 1,367,179 2,725,011 2,547,524 4,020,495 3,757,627 3,950,994 3,621,306 2,184,906 1,993,431
Investments 2(c), 6 & 22 991,843 1,017,560 1,131,604 1,331,016 2,633,871 2,455,452 3,878,622 3,637,643 3,733,071 3,450,129 2,059,185 1,883,253
Other current assets 7 167,348 33,979 379,584 36,163 91,140 92,072 141,873 119,984 217,923 171,177 125,721 110,178
1,159,191 1,051,539 1,511,188 1,367,179 2,725,011 2,547,524 4,020,495 3,757,627 3,950,994 3,621,306 2,184,906 1,993,431

317


Date: May 28, 2019 Head-Fixed Income Fund Manager-Fixed Income
Revenue Account
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
FUND - SERIES 29 FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES 31 FUND - SERIES FUND - SERIES 32 FUND - SERIES FUND - SERIES 33 FUND - SERIES FUND - SERIES FUND - SERIES
(1275 DAYS) 29 (1275 DAYS) 30 (1297 DAYS) 30 (1297 DAYS) (1381 DAYS) 31 (1381 DAYS) (1367 DAYS) 32 (1367 DAYS) (1358 DAYS) 33 (1358 DAYS) 35 (1359 DAYS) 35 (1359 DAYS)
Schedule
INCOME AND GAINS
Interest 2(d) & 8 68,786 66,885 85,425 83,390 171,774 163,121 263,088 249,837 251,127 236,252 132,651 122,693
Net change in marked to market in value of investments 2(c) & 6(ii) 70,002 31,509 99,879 45,643 68,238 81,349 90,036 111,587 178,489 111,457 111,183 69,435
Total 138,788 98,394 185,304 129,033 240,012 244,470 353,124 361,424 429,616 347,709 243,834 192,128
EXPENSES AND LOSSES
Loss on sale/redemption of investments (including F&O), net 2(d) 2,604 - 5,132 - 1,289 - 1,081 - 12,723 - 454 -
Loss on inter-scheme transfer/sale of investments, net 2(d) 1,123 - 1,391 - - - - 35 2,370 27 3,371 -
Management fee 9 17,681 22,451 22,124 28,472 38,123 50,329 54,992 73,076 53,982 70,438 30,779 39,880
Service Tax / GST on Management Fees 3,182 3,881 3,982 4,922 6,862 8,700 9,898 12,633 9,716 12,176 5,540 6,893
Trusteeship fee 9 7 7 10 9 18 17 26 25 25 24 14 13
Investor education expense 220 208 286 270 528 502 779 738 750 712 414 392
Custodian service charges 51 126 66 164 122 303 180 447 173 430 96 237
Registrar service charges 495 488 646 635 1,186 1,176 1,744 1,733 1,687 1,669 940 919
Commission to distributors 5,672 - 7,496 - 14,488 - 21,729 - 19,637 - 11,140 -
318
Audit fee 95 89 95 89 96 92 97 94 96 93 96 91
Listing fee 18 18 39 39 40 40 74 74 74 75 39 39
Other operating expenses 44 29 59 38 110 72 174 107 157 101 73 54
Less: Expenses reimbursed/to be reimbursed by AMC - (132) - (162) - - - - - - - -
Total 31,192 27,165 41,326 34,476 62,862 61,231 90,774 88,962 101,390 85,745 52,956 48,518
Surplus / (Deficit) for the year 107,596 71,229 143,978 94,557 177,150 183,239 262,350 272,462 328,226 261,964 190,878 143,610
Transfer from/ (to) unrealised appreciation reserve (70,002) (31,509) (99,879) (45,643) (68,238) (81,349) (90,036) (111,587) (178,489) (75,044) (111,183) (69,435)
Surplus / (Deficit) transferred to the retained surplus 4 37,594 39,720 44,099 48,914 108,912 101,890 172,314 160,875 149,737 186,920 79,695 74,175



Cash Flow Statement

AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID FUND - AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
FUND - SERIES FUND - SERIES FUND - SERIES - SERIES 30 (1297 - SERIES 31 (1381 FUND - SERIES SERIES 32 (1367 FUND - SERIES 32 FUND - SERIES 33 FUND - SERIES 33 FUND - SERIES 35 FUND - SERIES 35
29 (1275 DAYS) 29 (1275 DAYS) 30 (1297 DAYS) DAYS) DAYS) 31 (1381 DAYS) DAYS) (1367 DAYS) (1358 DAYS) (1358 DAYS) (1359 DAYS) (1359 DAYS)
Particulars
Net Surplus / (Deficit) for the year 107,596 71,229 143,978 94,557 177,150 183,239 262,350 272,462 328,226 261,964 190,878 143,610
Adjustments for:-
Net change in marked to market in value of investments (70,002) (31,509) (99,879) (45,643) (68,238) (81,349) (90,036) (111,587) (178,489) (111,457) (111,183) (69,435)
(Increase)/Decrease in investments at cost 95,718 (34,508) 299,291 (43,509) (110,181) (90,332) (150,943) (127,777) (104,453) (303,552) (64,749) (57,365)
(Increase)/Decrease in other current assets (6,135) (278) (4,604) (526) (5,109) (1,461) (1,312) (349) (36,507) (33,252) (18,312) (5,007)
Increase/(Decrease) in current liabilities 56 1,022 31 1,299 337 2,000 518 2,903 1,462 2,969 597 1,588
Net cash used in operations (A) 127,233 5,956 338,817 6,178 (6,041) 12,097 20,577 35,652 10,239 (183,328) (2,769) 13,391

Increase/(Decrease) in unit capital - - - - - - - - - - - (500)
Net cash generated from financing activities (B) - - - - - - - - - - - (500)
Net increase/(decrease) in cash and cash equivalents (A+B) 127,233 5,956 338,817 6,178 (6,041) 12,097 20,577 35,652 10,239 (183,328) (2,769) 12,891
Cash and Cash Equivalents as at the beginning of the year 9,109 3,153 14,096 7,918 33,059 20,962 57,592 21,940 51,974 235,302 61,500 48,609
Cash and cash equivalents as at the close of the year 136,342 9,109 352,913 14,096 27,018 33,059 78,169 57,592 62,213 51,974 58,731 61,500
319
Balances with banks in current accounts 12 2 30 4 436 8 9,384 8,716 1,457 13 901 14
Total 136,342 9,109 352,913 14,096 27,018 33,059 78,169 57,592 62,213 51,974 58,731 61,500


1. BACKGROUND
In accordance with the Securities and Exchange Board of India ('SEBI') (MutualFunds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of
NFO Close
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income January 12, 2016 Growth
29 (1275 Days) debt scheme securities that are maturing on or before the maturity of the to Dividend
Scheme whilst the secondary objective is to generate capital January 25, 2016 Direct Growth
appreciation by investing in equity and equity related Direct Dividend
that the investment objective of the Scheme will be achieved.
The Scheme does not assure or guarantee any returns.
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income January 22, 2016 Growth
Scheme whilst the secondary objective is to generate capital February 05, 2016 Direct Growth
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income June 29, 2016 Growth
Scheme whilst the secondary objective is to generate capital July 13, 2016 Direct Growth
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income July 20, 2016 Growth
Scheme whilst the secondary objective is to generate capital August 03, 2016 Direct Growth
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income August 19, 2016 Growth
Scheme whilst the secondary objective is to generate capital September 02, 2016 Direct Growth
Axis Hybrid Fund - Series A close ended To generate income by investing in high quality fixed income November 11, 2016 Growth
Scheme whilst the secondary objective is to generate capital November 25, 2016 Direct Growth
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each
For reporting the net asset value within the portfolio,the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the value
of investments, and expenses accrued, are allocated to the related plans in proportion to their respective daily net assets arrived at by multiplying day-end
outstanding units by previous day's closing NAV.
320
(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction costs,
CCIL charges and any other charges customarily included in the broker’s note. Capitalisation of such brokerage and transaction costs incurred for the
purpose of execution of trades is restricted to 12 bps in case of cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of
the specified limit is charged to the revenue account of the scheme as part of the total expense ratio.
receivable and debited to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is
credited to ‘Accrued Income Account’.
Investments in equity and equity related securities which have traded during a period of thirty days (prior to the balance sheet date) are stated at the closing
prices on the balance sheet date or the last trading day before the balance sheet date, as may be applicable, on The NationalStock Exchange of IndiaLimited
(principal stock exchange). When on a particular valuationday, a security has not been traded on the principal stock exchange, the value at which it is traded
on The Bombay Stock Exchange Limited is used.
Options / futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available
on valuationdate on the respective stock exchange, settlement price is considered for valuation.Futures contracts, which are going to expire on valuationdate
are valued at settlement price.
as on the valuationdate. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published
on AMFI website as on the valuation date.
Governmentsecurities (including State Development Loans) are valued at the average of the prices released by CRISIL and ICRA, as suggested by AMFI,on
the basis of the valuation principles laid down by SEBI.
schemes managed by the AMC.If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis
of amortized cost based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to
maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Valuation Agencies (CRISIL and
ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.
valuationis within a ±0.10% band of the price derived as per the reference yields providedby the Valuation Agencies (CRISIL and ICRA). In case the amortized
value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.
All debt securities with residual maturity greater than 60 days, are valued using the simple average of the prices released by CRISIL and ICRA, as suggested
by AMFI.In case of new purchases which are not a part of the list of CRISIL and ICRA security level pricing, such securities are valued at weighted average
cost/yield on the day of purchase.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two


321
3. Unit Capital
AXIS HYBRID FUND - SERIES 29 AXIS HYBRID FUND - SERIES 29 AXIS HYBRID FUND - SERIES 30 AXIS HYBRID FUND - SERIES 30
Initial Capital 85,926,705.000 859,267 85,926,705.000 859,267 107,696,669.000 1,076,967 107,696,669.000 1,076,967
RGGrowth
RGOutstanding, beginning of year 84,820,976.000 848,210 84,820,976.000 848,210 104,050,976.000 1,040,510 104,050,976.000 1,040,510
RGIssued
RG-new fund offer - - - - - - - -
RGOutstanding, end of year 84,820,976.000 848,210 84,820,976.000 848,210 104,050,976.000 1,040,510 104,050,976.000 1,040,510
RDDividend
322
RDOutstanding, beginning of year 1,005,500.000 10,055 1,005,500.000 10,055 3,587,343.000 35,873 3,587,343.000 35,873
RDIssued
RD-new fund offer - - - - - - - -
ZG Direct Growth
ZG Outstanding, beginning of year 100,229.000 1,002 100,229.000 1,002 58,350.000 584 58,350.000 584
ZG Issued
ZG Outstanding, end of year 100,229.000 1,002 100,229.000 1,002 58,350.000 584 58,350.000 584
ZD Direct Dividend
ZD Outstanding, beginning of year - - - - - - - -
ZD Issued
ZD -new fund offer - - - - - - - -
ZD Outstanding, end of year - - - - - - - -
Total
Outstanding, beginning of year 85,926,705.000 859,267 85,926,705.000 859,267 107,696,669.000 1,076,967 107,696,669.000 1,076,967
Issued
-new fund offer - - - - - - - -
Outstanding, end of year 85,926,705.000 859,267 85,926,705.000 859,267 107,696,669.000 1,076,967 107,696,669.000 1,076,967
AXIS HYBRID FUND - SERIES 31 (1381 AXIS HYBRID FUND - SERIES 31 AXIS HYBRID FUND - SERIES 32 AXIS HYBRID FUND - SERIES 32 (1367
DAYS) (1381 DAYS) (1367 DAYS) DAYS)
Initial Capital 227,883,685.000 2,278,837 227,883,685.000 2,278,837 338,254,889.000 3,382,549 338,254,889.000 3,382,549
RGGrowth
RGOutstanding, beginning of year 219,791,556.000 2,197,916 219,791,556.000 2,197,916 330,313,143.000 3,303,131 330,313,143.000 3,303,131
RGIssued
RG-new fund offer - - - - - - - -
RDDividend
323
RDIssued
ZG Direct Growth
ZG Outstanding, beginning of year 401,690.000 4,017 401,690.000 4,017 190,380.000 1,904 190,380.000 1,904
ZG Issued
ZD Direct Dividend
ZD Outstanding, beginning of year 6,000.000 60 6,000.000 60 32,500.000 325 32,500.000 325
ZD Issued
ZD Outstanding, end of year 6,000.000 60 6,000.000 60 32,500.000 325 32,500.000 325
Total
Issued
-new fund offer - - - - - - - -
Initial Capital 330,971,901.000 3,309,719 330,971,901.000 3,309,719 174,655,032.000 1,746,551 174,655,032.000 1,746,551
RGGrowth
RGOutstanding, beginning of year 317,366,765.000 3,173,668 317,366,765.000 3,173,668 171,428,257.000 1,714,283 171,478,257.000 1,714,783
RGIssued
RG-new fund offer - - - - - - (50,000.000) (500)
RDDividend
324
RDIssued
ZG Direct Growth
ZG Outstanding, beginning of year 296,416.000 2,964 296,416.000 2,964 192,800.000 1,928 192,800.000 1,928
ZG Issued
ZD Direct Dividend
ZD Outstanding, beginning of year 19,789.000 198 19,789.000 198 - - - -
ZD Issued
ZD Outstanding, end of year 19,789.000 198 19,789.000 198 - - - -
Total
Issued
-new fund offer - - - - - - (50,000.000) (500)
Rupees in '000
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID FUND AXIS HYBRID FUND AXIS HYBRID
FUND - SERIES FUND - SERIES 29 FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES 32 FUND - SERIES 32 - SERIES 33 (1358 - SERIES 33 (1358 - SERIES 35 (1359 FUND - SERIES 35
29 (1275 DAYS) (1275 DAYS) 30 (1297 DAYS) 30 (1297 DAYS) 31 (1381 DAYS) 31 (1381 DAYS) (1367 DAYS) (1367 DAYS) DAYS) DAYS) DAYS) (1359 DAYS)

Balance, beginning of year 104,946 73,437 180,309 134,666 103,877 22,528 122,164 10,577 75,044 - 146,972 77,537
Unrealised appreciation in value of investments 70,002 31,509 99,879 45,643 68,238 81,349 90,036 111,587 178,489 75,044 111,183 69,435
Balance, end of year/period 174,948 104,946 280,188 180,309 172,115 103,877 212,200 122,164 253,533 75,044 258,155 146,972
Retained surplus
Balance, beginning of year 85,472 45,752 107,571 58,657 160,455 58,565 246,589 85,714 230,446 43,526 96,964 22,789
Surplus/(deficit) transferred from revenue account 37,594 39,720 44,099 48,914 108,912 101,890 172,314 160,875 149,737 186,920 79,695 74,175
Balance, end of year/period 123,066 85,472 151,670 107,571 269,367 160,455 418,903 246,589 380,183 230,446 176,659 96,964
Total reserves 298,014 190,418 431,858 287,880 441,482 264,332 631,103 368,753 633,716 305,490 434,814 243,936
The share of the plans in the reserves and surplus is as

follows:
RG Growth 294,122 187,933 417,206 278,115 425,604 254,823 616,192 360,043 607,520 292,847 426,819 239,453
RD Dividend 3,487 2,228 14,384 9,588 14,880 8,909 14,399 8,414 25,439 12,263 7,428 4,167
ZG Direct Growth 405 257 268 177 983 591 437 253 710 356 567 316
ZD Direct Dividend - - - - 15 9 75 43 47 24 - -
298,014 190,418 431,858 287,880 441,482 264,332 631,103 368,753 633,716 305,490 434,814 243,936
325
Amount due to AMC
- Management fees 542 1,683 536 2,138 1,394 4,070 1,772 5,947 3,019 5,729 1,425 3,203
Trusteeship fee payable 1 1 1 1 1 1 2 2 2 2 1 1
Registrar service fees payable 20 39 27 50 43 94 58 138 66 133 46 73
Custody fees payable 5 12 7 15 13 28 19 42 19 40 10 22
Investor education expense payable 20 18 26 24 46 44 66 64 66 62 36 34
Other current liabilities 1,236 20 1,680 23 3,109 37 4,840 51 4,301 50 2,437 30
1,910 1,854 2,363 2,332 4,692 4,355 6,843 6,325 7,559 6,097 4,041 3,444
6. INVESTMENTS
Privately placed / unlisted debentures and bonds - - - - 9,954 - - - 329,707 - 150,190 151,287
Listed debentures and bonds 679,164 777,429 669,762 970,546 2,064,417 1,982,308 3,084,559 2,964,737 2,588,750 2,823,917 1,364,105 1,311,413
Options 312,679 240,131 461,842 360,470 559,500 473,144 794,063 672,906 814,614 626,212 544,890 420,553
INVESTMENTS 991,843 1,017,560 1,131,604 1,331,016 2,633,871 2,455,452 3,878,622 3,637,643 3,733,071 3,450,129 2,059,185 1,883,253
- appreciation - - - - 131 - - - - - - -
- depreciation - - - - - - - - 1,355 - 2,145 1,048
- appreciation 328 2,653 762 3,254 1,205 7,385 1,959 9,659 1,019 1,384 845 2,014
- depreciation 3,469 3,251 4,776 5,773 22,925 10,855 54,123 30,703 47,503 39,310 35,070 24,181
Options
- appreciation 178,089 105,543 284,202 182,828 193,704 107,348 264,364 143,208 301,372 112,970 294,525 170,187
- depreciation - - - - - - - - - - - -
Rupees in '000
326
- amount 388,031 96,519 394,639 125,762 129,407 318,736 174,504 470,842 495,022 313,890 225,230 57,365
Sales (excluding collateralised lending/Tri-Party Repo, fixed

- amount 507,042 88,351 721,590 115,536 55,062 262,346 90,207 404,572 375,475 10,311 156,656 -
- as a percentage of average daily net assets 46.14% 8.49% 50.40% 8.54% 2.09% 10.47% 2.32% 10.95% 10.02% 0.29% 7.58% -
(iv) The aggregate purchases made by all schemes of the Fund during the current year, previous year and the fair value of such investments as at March 31, 2019 in companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided in
Attachment 1.
Rupees in '000
(v) Aggregate fair value of non traded investments valued in
good faith
991,843 1,017,560 1,131,604 1,331,016 2,074,372 2,455,452 3,084,559 3,637,643 3,381,254 3,450,129 1,864,735 1,883,253
Balances with banks in current accounts 12 2 30 4 436 8 9,384 8,716 1,457 13 901 14
Outstanding and accrued income 31,006 24,738 26,671 21,905 64,107 59,013 63,666 62,392 155,672 119,203 66,979 48,678
Amount due from AMC - 132 - 162 15 - 38 - 38 - 11 -
167,348 33,979 379,584 36,163 91,140 92,072 141,873 119,984 217,923 171,177 125,721 110,178
8. INTEREST
Debentures and bonds 67,367 66,249 82,458 82,733 170,329 162,137 261,307 248,549 249,461 234,913 131,834 121,593
Collateralised lending / Tri-Party Repo 1,419 636 2,967 657 1,445 984 1,781 1,288 1,666 1,339 817 1,100
327
68,786 66,885 85,425 83,390 171,774 163,121 263,088 249,837 251,127 236,252 132,651 122,693
average rate 1.61% 2.16% 1.55% 2.10% 1.44% 2.01% 1.41% 1.98% 1.44% 1.98% 1.49% 2.04%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee
fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
The total income and expenditure and these amounts as a percentage of the scheme’s average daily net assets on an annualised basis are provided below:
Rupees in '000
Income (net off realised loss on sale of investment and excluding

net change in marked to market in value of investments)
- amount 65,059 66,885 78,902 83,390 170,485 163,121 262,007 249,802 236,034 236,225 128,826 122,693
- amount 27,465 27,165 34,803 34,476 61,573 61,231 89,693 88,927 86,297 85,718 49,131 48,518
328


329
Axis Banking & PSU Debt Fund Axis Equity Hybrid Fund
Axis Arbitrage Fund Axis Ultra Short Term Fund
Axis Equity Saver Fund Axis Growth Opportunities Fund
Axis Children's Gift Fund Axis Capital Builder Fund - Series 4 (1582 Days)
Axis Emerging Opportunities Fund - Series 1 (1400 Days) Axis Overnight Fund
Axis Emerging Opportunities Fund - Series 2 (1400 Days) Axis Fixed Term Plan - Series 104 (1112 Days)

(c) Transactions other than interscheme transactions covered by Accounting Standard-18: Rupees in '000
Axis Hybrid Fund - Series 29 (1275 Days) Axis Hybrid Fund - Series 30 (1297 Days) Axis Hybrid Fund - Series 31 (1381 Days)
Axis Asset Management Company Limited (including Service Tax/GST) 20,863 26,332 542 1,687 26,106 33,394 536 2,140 44,985 59,029 1,394 4,074
Axis Asset Management Company Limited Receivable for other expenses - - - 132 - - - 162 - 15 -
Rupees in '000
Axis Hybrid Fund - Series 32 (1367 Days) Axis Hybrid Fund - Series 33 (1358 Days) Axis Hybrid Fund - Series 35 (1359 Days)
Axis Asset Management Company Limited Receivable for other expenses - 38 - 38 - 11
Rupees in '000
Name of sponsor, associates, employees
Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund Axis Hybrid Fund - AXIS HYBRID Axis Hybrid AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund AXIS HYBRID Axis Hybrid Fund -
or their relatives of AMC (Nature of
Series 29 (1275 Series 29 (1275 - Series 30 (1297 Series 30 (1297 FUND - SERIES Fund - Series 31 FUND - SERIES Series 32 (1367 FUND - SERIES - Series 33 (1358 FUND - SERIES Series 35 (1359
relation)
Days) Days) Days) Days) 31 (1381 DAYS) (1381 Days) 32 (1367 DAYS) Days) 33 (1358 DAYS) Days) 35 (1359 DAYS) Days)
330
Bank charges # # # # # # # # # # # #
Commission paid on distribution of units 5,404 - 6,684 - 13,385 - 19,930 - 18,825 - 10,538 -
Commission paid on distribution of units # - 1 - 3 - 62 - 4 - 6 -
F.Y. 2018-2019 - Nil
F.Y. 2017-2018 - Nil

12. Investments made during the year/period in the sponsor company and its group companies at cost
Rupees in '000
companies Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - AXIS HYBRID FUND Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID FUND Axis Hybrid Fund -
Series 29 (1275 Series 29 (1275 Series 30 (1297 Series 30 (1297 - SERIES 31 (1381 Series 31 (1381 FUND - SERIES 32 Series 32 (1367 FUND - SERIES 33 Series 33 (1358 - SERIES 35 (1359 Series 35 (1359
Days) Days) Days) Days) DAYS) Days) (1367 DAYS) Days) (1358 DAYS) Days) DAYS) Days)
Axis Bank Limited *
Investment made by the Scheme - - - - - - - - - - - -


Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund -
Series 29 (1275 Series 29 (1275 Series 30 (1297 Series 30 (1297 FUND - SERIES 31 Series 31 (1381 FUND - SERIES 32 Series 32 (1367 FUND - SERIES 33 Series 33 (1358 FUND - SERIES 35 Series 35 (1359
Options Days) Days) Days) Days) (1381 DAYS) Days) (1367 DAYS) Days) (1358 DAYS) Days) (1359 DAYS) Days)
RG Growth 13.4676 12.2156 14.0096 12.6729 11.9364 11.1594 11.8655 11.0900 11.9143 10.9227 12.4898 11.3968
RD Dividend 13.4676 12.2156 14.0096 12.6729 11.9364 11.1594 11.8655 11.0900 11.9143 10.9228 12.4893 11.3964
ZG Direct Growth 14.0385 12.5676 14.5974 13.0341 12.4468 11.4707 12.2960 11.3297 12.3939 11.2024 12.9398 11.6404
ZD Direct Dividend - - - - 12.4475 11.4705 12.2960 11.3297 12.3939 11.2024 - -
331




Rupees in '000
Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund - AXIS HYBRID Axis Hybrid Fund -
Series 29 (1275 Series 29 (1275 Series 30 (1297 Series 30 (1297 FUND - SERIES 31 Series 31 (1381 FUND - SERIES 32 Series 32 (1367 FUND - SERIES 33 Series 33 (1358 FUND - SERIES 35 Series 35 (1359
Days) Days) Days) Days) (1381 DAYS) Days) (1367 DAYS) Days) (1358 DAYS) Days) (1359 DAYS) Days)
Particulars
Total Reserves
298,014 190,418 431,858 287,880 441,482 264,332 631,103 368,753 633,716 305,490 434,814 243,936
174,948 104,945 280,188 180,309 172,115 103,878 212,200 122,164 253,533 75,044 258,155 146,972
123,066 85,473 151,670 107,571 269,367 160,454 418,903 246,589 380,183 230,446 176,659 96,964
In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI has been
transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) / Treps (Tri-Party Repo).
Rupees in '000
Rupees in '000
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
Unclaimed dividend and redemption gets transferred from schemes to separate pool account and is maintained separately. This disclosure has been carried out in the financial statements for all the schemes
at pool level.
332


To the Trustees of
Axis Mutual Fund – Axis Fixed Term Plan - Series 64
Opinion
We have audited the accompanying financial statements of Axis Fixed Term Plan - Series 64 (“the Scheme”),
which comprise the Balance sheet as at March 31, 2019, the Revenue Account and the Cash Flow Statement for
the year then ended, and notes to the financial statements, including a summary of significant accounting policies
and other explanatory information.
Basis for Opinion
Key Audit Matters
333
unlisted debt instruments. • Assessed the design and implementation of controls over
334
internal control.
during our audit.
335
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
336
To the Trustees of
Axis Mutual Fund – Axis Fixed Term Plan - Series 95 (1185 Days)
Opinion
We have audited the accompanying financial statements of Axis Fixed Term Plan - Series 95 (1185 Days) (“the
Basis for Opinion
Key Audit Matters
337
338
internal control.
during our audit.
339
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
340
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
341
342
internal control.
during our audit.
343
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
344
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
345
346
internal control.
during our audit.
347
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
348
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
349
350
internal control.
during our audit.
351
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
352
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
353
unlisted debt instruments and government • Assessed the design and implementation of controls over
bonds. valuation and existence of investments.
appropriately. Accordingly, the existence and by Custodian/RBI with the books as at March 31, 2019
354
internal control.
during our audit.
355
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
356
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
357
unlisted debt instruments and government • Assessed the design and implementation of controls over
bond. valuation and existence of investments.
appropriately. Accordingly, the existence and by Custodian/RBI with the books as at March 31, 2019
358
internal control.
during our audit.
359
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
360
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
361
362
internal control.
during our audit.
363
report that:
Regulations.
and reasonable.

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
364
Balance Sheet
AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
AXIS FIXED TERM AXIS FIXED TERM PLAN - SERIES 95 PLAN - SERIES 96 PLAN - SERIES 97 PLAN - SERIES 100 PLAN - SERIES 101 PLAN - SERIES 102 PLAN - SERIES 104
PLAN - SERIES 64 PLAN - SERIES 64 (1185 DAYS) (1124 DAYS) (1116 DAYS) (1172 DAYS) (1154 DAYS) (1133 DAYS) (1112 DAYS)
March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 67,043 67,043 907,011 464,926 3,405,882 221,541 267,800 318,872 889,872
Reserves and surplus 2(b) & 4 30,388 24,086 68,540 18,566 153,562 5,529 4,898 3,862 1,488
Current liabilities 5 55 102 571 396 3,583 146 41 50 52,133
97,486 91,231 976,122 483,888 3,563,027 227,216 272,739 322,784 943,493
Investments 2(c), 6 & 22 28,032 80,740 938,863 464,626 3,423,000 218,926 269,275 319,321 457,806
Other current assets 7 69,454 10,491 37,259 19,262 140,027 8,290 3,464 3,463 485,687
97,486 91,231 976,122 483,888 3,563,027 227,216 272,739 322,784 943,493

365

Revenue Account
PLAN - SERIES 64 PLAN - SERIES 64 (1185 DAYS) (1124 DAYS) (1116 DAYS) (1172 DAYS) (1154 DAYS) (1133 DAYS) (1112 DAYS)
April 01, 2018 April 01, 2017 July 04, 2018 September 03, 2018 September 11, 2018 January 22, 2019 February 13, 2019 March 06, 2019 March 28, 2019
to to to to to to to to to
Schedule
INCOME
Interest 2(d) & 8 7,440 7,223 58,280 24,240 172,533 3,534 2,976 1,896 722
Profit on sale/redemption of investments, net 2(d) - - 427 - - - - - -
Net change in marked to market in value of investments 2(c) & 6(ii) 501 (1,178) 11,110 (4,751) (10,719) 2,096 2,014 2,017 777
Total 7,941 6,045 69,817 19,489 161,814 5,630 4,990 3,913 1,499
EXPENSES AND LOSSES
Loss on sale/redemption of investments, net 2(d) 1,184 - - - - - 22 - -

Loss on inter-scheme transfer/sale of investments, net 2(d) - - 52 - 2 - - - -
Management fee 9 251 349 742 595 6,299 23 19 12 4
Service Tax / GST on Management Fees 46 61 134 108 1,134 4 4 2 -
Trusteeship fee 9 1 1 5 2 13 # # # #
Investor education expense 18 18 138 54 384 8 6 4 2
Custodian service charges 4 7 23 12 86 3 2 1 1
Registrar service charges 70 140 105 82 222 3 1 - 1
Commission to distributors 18 - - - - 55 34 29 -
366
Audit fee 31 59 61 61 61 2 2 2 2
Listing fee 14 27 13 8 42 3 2 1 -
Other operating expenses 2 2 4 1 9 - # - 1
Less: Expenses reimbursed/to be reimbursed by AMC - (218) - - - - - - -
Total 1,639 446 1,277 923 8,252 101 92 51 11
Surplus / (Deficit) for the year/period 6,302 5,599 68,540 18,566 153,562 5,529 4,898 3,862 1,488
Transfer from / (to) unrealised appreciation reserve - 526 (11,110) - - (2,096) (2,014) (2,017) (777)
Surplus / (Deficit) transferred to the retained surplus 4 6,302 6,125 57,430 18,566 153,562 3,433 2,884 1,845 711


Cash Flow Statement

AXIS FIXED AXIS FIXED AXIS FIXED AXIS FIXED
AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
AXIS FIXED TERM AXIS FIXED TERM TERM PLAN - TERM PLAN - TERM PLAN - TERM PLAN -
Particulars PLAN - SERIES 96 PLAN - SERIES 97 PLAN - SERIES
PLAN - SERIES 64 PLAN - SERIES 64 SERIES 95 SERIES 100 (1172 SERIES 101 (1154 SERIES 102
(1124 DAYS) (1116 DAYS) 104 (1112 DAYS)
(1185 DAYS) DAYS) DAYS) (1133 DAYS)
Net Surplus / (Deficit) for the year/period 6,302 5,599 68,540 18,566 153,562 5,529 4,898 3,862 1,488
Adjustments for:-
Change in provision for net unrealised loss in value of investments (501) 1,178 (11,110) 4,751 10,719 (2,096) (2,014) (2,017) (777)
(Increase)/decrease in investments at cost 53,209 (5,186) (927,753) (469,377) (3,433,719) (216,830) (267,261) (317,304) (457,029)
(Increase)/decrease in other current assets 2,912 (1,230) (34,473) (17,754) (135,533) (1,203) (2,009) (2,313) (4,519)
Increase/(Decrease) in current liabilities (47) 18 571 396 3,583 146 41 50 52,133
Change in provision for net unrealised loss in value of investments - - - - - - - - -
(Increase)/Decrease in deposits - - - - - - - - -
Net cash used in operations (A) 61,875 379 (904,225) (463,418) (3,401,388) (214,454) (266,345) (317,722) (408,704)

Increase/(Decrease) in unit capital - - 907,011 464,926 3,405,882 221,541 267,800 318,872 889,872
Increase/(Decrease) in Unit Premium Reserve - - - - - - - - -
Net cash generated from financing activities (B) - - 907,011 464,926 3,405,882 221,541 267,800 318,872 889,872
367
Net increase/(decrease) in cash and cash equivalents (A+B) 61,875 379 2,786 1,508 4,494 7,087 1,455 1,150 481,168
Cash and Cash Equivalents as at the beginning of the year/period 5,541 5,162 - - - - - - -
Cash and cash equivalents as at the end of the year/period 67,416 5,541 2,786 1,508 4,494 7,087 1,455 1,150 481,168
Component of cash and cash equivalents March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019
Balances with banks in current accounts 6 1 1 1 - 527 523 581 239

Collateralised lending / Tri-Party Repo 67,410 5,540 2,785 1,507 4,494 6,560 932 569 480,929
Total 67,416 5,541 2,786 1,508 4,494 7,087 1,455 1,150 481,168
(0)

1. BACKGROUND
In accordance with the Securities and Exchange Board of India ('SEBI') (Mutual Funds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of Axis
Mutual Fund Trustee Limited ('the Trustee') has appointed Axis Asset Management Company Limited ('the AMC') to manage the Fund's affairs and operate its
Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset ManagementCompany Limited and the balance
25% plus one equity share is held by Schroders Investment Management (Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroders Singapore
Holdings Private Limited (SSHPL), both subsidiaries of Schroders plc.
NFO Close
Axis Fixed Term Plan - A Close ended debt scheme The Plan(s) of the Scheme will endeavour to April 11, 2014 Growth
Series 64 generate returns through a portfolio of debt & money to Dividend
market instruments that are maturing on or before April 21, 2014 Quarterly Dividend
the maturity of the respective plan(s). Direct Growth
Direct Dividend
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavour to generate returns June 27, 2018 Growth
SERIES 95 (1185 DAYS) through a portfolio of debt & money market to Dividend
instruments that are maturing on or before the July 03, 2018 Quarterly Dividend
maturity of the scheme. However, there is no Halfy Yearly Dividend
not assure or guarantee any returns. Direct Quarterly Dividend
Direct Halfy Yearly Dividend
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavour to generate returns August 30, 2018 Growth
instruments that are maturing on or before the August 31, 2018 Quarterly Dividend
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavour to generate returns September 06, 2018 Growth
instruments that are maturing on or before the September 10, 2018 Quarterly Dividend
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavour to generate returns January 15, 2019 Growth
instruments that are maturing on or before the January 21, 2019 Quarterly Dividend
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavour to generate returns February 01, 2019 Growth
instruments that are maturing on or before the February 12, 2019 Quarterly Dividend
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavour to generate returns February 27, 2019 Growth
instruments that are maturing on or before the March 05, 2019 Quarterly Dividend
AXIS FIXED TERM PLAN - A Close ended debt scheme The Scheme will endeavour to generate returns March 19, 2019 Growth
instruments that are maturing on or before the March 26, 2019 Quarterly Dividend
assurance or guarantee Direct Growth
that the investment objective of the Scheme will be Direct Dividend
achieved. The Scheme does not assure or Direct Quarterly Dividend
guarantee any returns. Direct Halfy Yearly Dividend
368
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intendedto indicate that they bear any relation to each other, or are

The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked-to-
market’. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approvedby the Boards of Directors of the AMC and
the Trustee, are stated below.
The net asset value of the units are determined separately for the units issued under the options.
investments, and expenses accrued, are allocated to the related options in proportion to their respective daily net assets arrived at by multiplying day-end outstanding
units by previous day's closing NAV.

(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction costs, CCIL
charges and any other charges customarily included in the broker’s note.
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest receivable
and debited to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is credited to ‘Accrued
Income Account’.
valuationdate. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published on AMFIwebsite
as on the valuation date.
Governmentsecurities (including State Development Loans) are valued at the average of the prices released by CRISIL and ICRA, as suggested by AMFI,on the basis
of the valuation principles laid down by SEBI.
suggested by AMFI, on the basis of the valuation principles laid down by SEBI. The difference between last traded/valued price and next business day's (T+1)
aggregated price received from CRISIL and ICRA is amortised linearly upto the day preceding the next business day.
Treasury bills (including cash management bills) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes
managed by the AMC. If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost
based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the
valuationis within a ±0.10% band of the price derived as per the reference yields providedby the Valuation Agencies (CRISIL and ICRA). In case the amortized value is
outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.
All debt securities with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes managed by the AMC. If there are
no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost based on purchase price or last
traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of
the price derived as per the reference yields providedby the Valuation Agencies (CRISIL and ICRA). In case the amortized value is outside the above band, the YTMof
the security is adjusted to bring the price within the ±0.10% band.
All debt securities with residual maturity greater than 60 days, are valued using the simple average of the prices released by CRISIL and ICRA, as suggested by AMFI.
In case of new purchases which are not a part of the list of CRISIL and ICRA security level pricing, such securities are valued at weighted average cost/yield on the
day of purchase.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two

Cash and cash equivalents include balances with banks in current accounts, deposits placed with scheduled banks (with an original maturity of up to three months)
and collateralised lending/Tri-Party Repo (including reverse repurchase transactions).
369
3. Unit Capital
AXIS FIXED TERM PLAN - SERIES 95
AXIS FIXED TERM PLAN - SERIES 64 AXIS FIXED TERM PLAN - SERIES 64 (1185 DAYS)
Initial Capital 43,431,096.000 434,311 43,431,096.000 434,311 90,701,058.000 907,011

Growth
Outstanding, beginning of year/period 5,861,598.788 58,616 5,861,598.788 58,616 - -
Issued
RG -new fund offer - - 22,308,779.000 223,088
RG -during the year/period - - - - - -
RG Redeemed during the year/period - - - - - -
RG Outstanding, end of year/period 5,861,598.788 58,616 5,861,598.788 58,616 22,308,779.000 223,088
Dividend
RD Outstanding, beginning of year/period 16,000.000 160 16,000.000 160 - -
RD Issued
RD -new fund offer - - 500.000 5
RD -during the year/period - - - - - -
RD Redeemed during the year/period - - - - - -
RD Outstanding, end of year/period 16,000.000 160 16,000.000 160 500.000 5
Quarterly Dividend
RQ Issued
RQ -new fund offer 20,000.000 200
RQ -during the year/period - - - - - -
RQ Redeemed during the year/period - - - - - -
RQ Outstanding, end of year/period - - - - 20,000.000 200
Half yearly Dividend
RH Outstanding, beginning of year/period - -
RH Issued
RH -new fund offer 1,000.000 10
RH -during the year/period - -
RH Redeemed during the year/period - -
RH Outstanding, end of year/period 1,000.000 10
Direct Growth
ZG Outstanding, beginning of year/period 826,700.000 8,267 826,700.000 8,267 - -
ZG Issued
ZG -new fund offer - - 68,369,829.000 683,698
ZG -during the year/period - - - - - -
ZG Redeemed during the year/period - - - - - -
ZG Outstanding, end of year/period 826,700.000 8,267 826,700.000 8,267 68,369,829.000 683,698
Direct Dividend
ZD Outstanding, beginning of year/period - - - - - -
ZD Issued
ZD -during the year/period - - - - - -
ZD Redeemed during the year/period - - - - - -
ZD Outstanding, end of year/period - - - - - -
ZQ Outstanding, beginning of year/period - - - - - -
ZQ Issued
ZQ -new fund offer 950.000 10
ZQ -during the year/period - - - - - -
ZQ Redeemed during the year/period - - - - - -
ZQ Outstanding, end of year/period - - - - 950.000 10
ZH Outstanding, beginning of year/period - -
ZH Issued
ZH -new fund offer - -
ZH -during the year/period - -
ZH Redeemed during the year/period - -
ZH Outstanding, end of year/period - -
Total
Outstanding, beginning of year/period 6,704,298.788 67,043 6,704,298.788 67,043 - -
Issued
-new fund offer - - 90,701,058.000 907,011
-during the year/period - - - - - -
Redeemed during the year/period - - - - - -
370
AXIS FIXED TERM PLAN - SERIES 96 AXIS FIXED TERM PLAN - SERIES 97 AXIS FIXED TERM PLAN - SERIES 100
(1124 DAYS) (1116 DAYS) (1172 DAYS)
Initial Capital 46,492,554.000 464,926 340,588,208.000 3,405,882 22,154,130.000 221,541

Growth
Issued
RG -new fund offer 25,128,754.000 251,288 277,373,808.000 2,773,738 11,457,044.000 114,570
RG Outstanding, end of year/period 25,128,754.000 251,288 277,373,808.000 2,773,738 11,457,044.000 114,570
Dividend
RD Issued
RD -new fund offer 450,000.000 4,500 500.000 5 13,500.000 135
RD Outstanding, end of year/period 450,000.000 4,500 500.000 5 13,500.000 135
Quarterly Dividend
RQ Issued
RQ -new fund offer 1,500.000 15 - - 23,700.000 237
RQ Outstanding, end of year/period 1,500.000 15 - - 23,700.000 237
RH Outstanding, beginning of year/period - - - - - -
RH Issued
RH -new fund offer 10,500.000 105 205,500.000 2,055 - -
RH -during the year/period - - - - - -
RH Redeemed during the year/period - - - - - -
RH Outstanding, end of year/period 10,500.000 105 205,500.000 2,055 - -
Direct Growth
ZG Issued
ZG -new fund offer 20,901,800.000 209,018 63,007,900.000 630,079 10,659,886.000 106,599
ZG Outstanding, end of year/period 20,901,800.000 209,018 63,007,900.000 630,079 10,659,886.000 106,599
Direct Dividend
ZD Issued
ZD -new fund offer - - - - - -
ZD Outstanding, end of year/period - - - - - -
ZQ Issued
ZQ -new fund offer - - - - - -
ZQ Outstanding, end of year/period - - - - - -
ZH Outstanding, beginning of year/period - - - - - -
ZH Issued
ZH -new fund offer - - 500.000 5 - -
ZH -during the year/period - - - - - -
ZH Redeemed during the year/period - - - - - -
ZH Outstanding, end of year/period - - 500.000 5 - -
Total
Issued
-new fund offer 46,492,554.000 464,926 340,588,208.000 3,405,882 22,154,130.000 221,541
Outstanding, end of year/period 46,492,554.000 464,926 340,588,208.000 3,405,882 22,154,130.000 221,541
371
AXIS FIXED TERM PLAN - SERIES 101 AXIS FIXED TERM PLAN - SERIES 102 AXIS FIXED TERM PLAN - SERIES
(1154 DAYS) (1133 DAYS) 104 (1112 DAYS)
Initial Capital 26,780,030.000 267,800 31,887,200.000 318,872 88,987,188.000 889,872

Growth
Issued
RG -new fund offer 10,327,202.000 103,272 16,160,913.000 161,609 22,274,838.000 222,748
RG Outstanding, end of year/period 10,327,202.000 103,272 16,160,913.000 161,609 22,274,838.000 222,748
Dividend
RD Issued
RD -new fund offer 7,500.000 75 65,537.000 655 14,500.000 145
RD Outstanding, end of year/period 7,500.000 75 65,537.000 655 14,500.000 145
Quarterly Dividend
RQ Issued
RQ -new fund offer 8,000.000 80 500.000 5 61,400.000 614
RQ Outstanding, end of year/period 8,000.000 80 500.000 5 61,400.000 614
RH Outstanding, beginning of year/period - - - - - -
RH Issued
RH -new fund offer - - - - 30,000.000 300
RH -during the year/period - - - - - -
RH Redeemed during the year/period - - - - - -
RH Outstanding, end of year/period - - - - 30,000.000 300
Direct Growth
ZG Issued
ZG -new fund offer 16,430,328.000 164,303 15,658,250.000 156,583 66,594,950.000 665,950
ZG Outstanding, end of year/period 16,430,328.000 164,303 15,658,250.000 156,583 66,594,950.000 665,950
Direct Dividend
ZD Issued
ZD -new fund offer 7,000.000 70 - - 5,000.000 50
ZD Outstanding, end of year/period 7,000.000 70 - - 5,000.000 50
ZQ Issued
ZQ -new fund offer - - 2,000.000 20 2,500.000 25
ZQ Outstanding, end of year/period - - 2,000.000 20 2,500.000 25
ZH Outstanding, beginning of year/period - - - - - -
ZH Issued
ZH -new fund offer - - - - 4,000.000 40
ZH -during the year/period - - - - - -
ZH Redeemed during the year/period - - - - - -
ZH Outstanding, end of year/period - - - - 4,000.000 40
Total
Issued
-new fund offer 26,780,030.000 267,800 31,887,200.000 318,872 88,987,188.000 889,872
372
Rupees in '000
AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM PLAN -
PLAN - SERIES 95 PLAN - SERIES 96 PLAN - SERIES 100 PLAN - SERIES 101 PLAN - SERIES 102 PLAN - SERIES 104
PLAN - SERIES 64 PLAN - SERIES 64 SERIES 97 (1116 DAYS)
(1185 DAYS) (1124 DAYS) (1172 DAYS) (1154 DAYS) (1133 DAYS) (1112 DAYS)

Balance, beginning of year/period - 526 - - - - - - -
Unrealised appreciation in value of investments - (526) 11,110 - - 2,096 2,014 2,017 777
Balance, end of year - - 11,110 - - 2,096 2,014 2,017 777
Retained surplus
Balance, beginning of year/period 24,086 17,961 - - - - - - -
Surplus transferred from revenue account 6,302 6,125 57,430 18,566 153,562 3,433 2,884 1,845 711
Balance, end of year 30,388 24,086 57,430 18,566 153,562 3,433 2,884 1,845 711
Total reserves 30,388 24,086 68,540 18,566 153,562 5,529 4,898 3,862 1,488

as follows:
RG Growth 26,298 20,855 16,382 9,859 124,554 2,832 1,868 1,943 367
RD Dividend 72 57 # 177 # 3 1 8 #
RQ Quarterly Dividend - - 15 1 - 6 1 # 1
RH Half yearly Dividend 1 4 92 - 1 - #
373
ZG Direct Growth 4,018 3,174 52,141 8,525 28,916 2,688 3,027 1,911 1,120
ZD Direct Dividend - - - - - - - - #
ZQ Direct Quarterly Dividend - - 1 - - - - # #
ZH Direct Half yearly Dividend - - # - - - #
ZH 30,388 24,086 68,540 18,566 153,562 5,529 4,898 3,862 1,488
Amount due to AMC
- Management fees 2 27 473 308 3,388 8 9 9 4
Trusteeship fee payable # # # # 2 # # # -
Contract for purchase of investments - - - - - - - - 51,923
Audit fee payable 29 54 56 56 56 2 2 2 2
Registrar service fees payable 10 11 10 10 30 - - - 1
Custody fees payable - 1 5 2 17 1 1 1 1
Investor education expense payable 2 2 16 8 60 4 4 4 2
Other current liabilities 12 7 11 12 30 131 25 34 200
55 102 571 396 3,583 146 41 50 52,133
6. INVESTMENTS
Privately placed / unlisted debentures and bonds - - - - - 20,753 - -
Listed debentures and bonds 28,032 80,740 938,863 464,626 3,423,000 198,173 248,572 288,266 457,806
Government Securities - - - - - - 20,703 31,055 -
INVESTMENTS 28,032 80,740 938,863 464,626 3,423,000 218,926 269,275 319,321 457,806
- appreciation - - - - - 149 - - -
- depreciation - - - - - - - - -
- appreciation 42 37 11,228 835 17,780 1,947 1,958 1,933 777
- depreciation 193 689 118 5,586 28,499 - - - -
Government Securities
- appreciation - - - - - - 56.00 84.00 -
- depreciation - - - - - - - - -
(iii) The aggregate value of investments acquired and sold/redeemed during the year/period and these amounts as a percentage of average daily net assets are as follows:
Rupees in '000
374
and fixed deposits)
- amount 26,948 7,622 1,268,332 464,201 3,390,929 215,761 279,371 316,627 456,950
- as a percentage of average daily net assets 28.63% 8.62% 135.88% 98.73% 97.99% 96.47% 103.63% 98.72% 51.29%

fixed deposits)
- amount 78,973 2,500 358,585 - 1,025 - 13,205 - -
- as a percentage of average daily net assets 83.90% 2.83% 38.42% - 0.03% - 4.90% - -
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year and the fair value of such investments as at March 31, 2019 in companies which have invested in any scheme of the Fund in excess of five per cent of that
scheme's net assets are provided in Attachment 1.
Rupees in '000
(v) Aggregate fair value of non traded investments valued
in good faith 28,032 80,740 938,863 464,626 3,423,000 153,624 170,549 230,415 206,163
Rupees in '000
Balances with banks in current accounts 6 1 1 1 - 527 523 581 239

Outstanding and accrued income 2,038 4,732 34,473 17,754 135,533 1,184 1,999 2,313 4,519
Amount due from AMC - 218 - - - - - - -
Collateralised lending / Tri-Party Repo 67,410 5,540 2,785 1,507 4,494 6,560 932 569 480,929
Other current assets - - - - - 19 10 - -
69,454 10,491 37,259 19,262 140,027 8,290 3,464 3,463 485,687
to to to to to to to to
8. INTEREST
Debentures and bonds 6,331 6,943 57,730 23,860 169,030 3,357 2,571 1,490 298
Government securities (including treasury bills) - 62 - - - - 112 168 -
Collateralised lending / Tri-Party Repo 1,109 218 550 380 3,503 177 293 238 424
7,440 7,223 58,280 24,240 172,533 3,534 2,976 1,896 722
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset
375
value of the investments made in other schemes and fixed deposits including interest thereon as applicable. During the year/period ended March 31, 2019, the Schemes have paid management fee at annualised average rate as follows:
average rate 0.27% 0.39% 0.11% 0.22% 0.33% 0.05% 0.05% 0.05% 0.04%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net
assets. Trustee fees charged is subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
Rupees in '000

investments)
- amount 6,256 7,223 58,655 24,240 172,531 3,534 2,954 1,896 722
- amount 455 446 1,225 923 8,250 101 70 51 11
376
(i) The Schemes have entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18
on 'Related Party Disclosures' issued by the Institute of Chartered Accountants of India is provided below.


Axis Liquid Fund Axis Capital Protection Oriented Fund - Series 5
377
Axis Gilt Fund Axis Equity Hybrid Fund
Axis Strategic Bond Fund Axis Ultra Short Term Fund
Axis Banking & PSU Debt Fund Axis Growth Opportunities Fund
Axis Focused 25 Fund Axis Capital Builder Fund - Series 4 (1582 Days)
Axis Arbitrage Fund Axis Overnight Fund
Axis Equity Saver Fund Axis Fixed Term Plan - Series 49
Axis Children's Gift Fund Axis Fixed Term Plan - Series 52
Axis Small Cap Fund Axis Hybrid Fund - Series 18 (42 Months)
Axis Emerging Opportunities Fund - Series 2 (1400 Days)

Rupees in '000
AXIS FIXED TERM PLAN - SERIES 95 AXIS FIXED TERM PLAN - SERIES 96
(1185 DAYS) (1124 DAYS)
Year ended Year ended Balance as at Balance as at Period ended Balance as at Period ended Balance as at
Name of Related Party Nature of transactions March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019
Axis Mutual Fund Trustee Limited Fees for trusteeship services 1 1 # # 5 # 2 #
Axis Asset Management Company Limited (including Service Tax/GST) 297 410 2 27 876 473 703 308
Axis Asset Management Company Limited Receivable for other expenses - - - 218 - - - -
Rupees in '000
AXIS FIXED TERM PLAN - SERIES 97 (1116 AXIS FIXED TERM PLAN - SERIES 100 AXIS FIXED TERM PLAN - SERIES 101 AXIS FIXED TERM PLAN - SERIES
DAYS) (1172 DAYS) (1154 DAYS) 102 (1133 DAYS)
Period ended Balance as at Period ended Balance as at Period ended Balance as at Period ended Balance as at
Name of Related Party Nature of transactions March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019 March 31, 2019
Axis Mutual Fund Trustee Limited Fees for trusteeship services 13 2 # # # # # #
Axis Asset Management Company Limited (including Service Tax/GST) 7,433 3,388 27 8 23 9 14 9
Axis Asset Management Company Limited Receivable for other expenses - - - - - - - -
Rupees in '000
(1112 DAYS)
378
Name of Related Party Nature of transactions March 31, 2019 March 31, 2019
Axis Mutual Fund Trustee Limited Fees for trusteeship services # #
Axis Asset Management Company Limited Fees for investment management services 1,138 4
Axis Asset Management Company Limited Receivable for other expenses - -
Rupees in '000
Name of sponsor, associates, employees AXIS FIXED AXIS FIXED
or their relatives of AMC (Nature of AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
AXIS FIXED TERM AXIS FIXED TERM TERM PLAN - TERM PLAN -
relation) PLAN - SERIES 96 (1124 PLAN - SERIES 97 PLAN - SERIES 100 PLAN - SERIES 101 PLAN - SERIES 102
PLAN - SERIES 64 PLAN - SERIES 64 SERIES 95 (1185 SERIES 104
DAYS) (1116 DAYS) (1172 DAYS) (1154 DAYS) (1133 DAYS)
DAYS) (1112 DAYS)
Year ended Year ended Period ended Period ended Period ended Period ended Period ended Period ended Period ended
Bank charges # # # # # # # # #
Commission paid on distribution of units 4 - - - - 1 1 2 -

Commission paid on distribution of units - - - - - # # # -
# Amount less than Rs. 0.5 thousand - - -
F.Y. 2018-2019 - Nil
F.Y. 2017-2018 - Nil
Rupees in '000
Name of sponsor company and its group AXIS FIXED AXIS FIXED
companies AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
PLAN - SERIES 96 (1124 PLAN - SERIES 97 PLAN - SERIES 100 PLAN - SERIES 101 PLAN - SERIES 102
PLAN - SERIES 64 PLAN - SERIES 64 SERIES 95 (1185 SERIES 104
DAYS) (1116 DAYS) (1172 DAYS) (1154 DAYS) (1133 DAYS)
DAYS) (1112 DAYS)
Year ended Year ended Period ended Period ended Period ended Period ended Period ended Period ended Period ended
Axis Bank Limited *
Investment made by the Scheme - - - - - - - - -
Investment made by other schemes 19,656 5,250,231 19,656 19,656 19,656 19,656 19,656 19,656 19,656
Total investments 19,656 5,250,231 19,656 19,656 19,656 19,656 19,656 19,656 19,656

The schemes have not made any investments in derivative products during the year ended at March 31, 2019. (Previous year - Nil)
379
14. NET ASSET VALUE AXISS64 AXISS95 AXISS96 AXISS97 AXIS100 AXIS101 AXIS102 Rupees
Options PLAN - SERIES 64 PLAN - SERIES 64 (1185 DAYS) (1124 DAYS) (1116 DAYS) (1172 DAYS) (1154 DAYS) (1133 DAYS) (1112 DAYS)
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
RG Growth 14.4865 13.5580 10.7343 10.3924 10.4490 10.2472 10.1809 10.1202 10.0165
RD Dividend 14.4864 13.5579 10.7359 10.3924 10.4517 10.2474 10.1809 10.1202 10.0165
RQ Quarterly Dividend - - 10.7342 10.3943 - 10.2472 10.1809 10.1201 10.0165
RH Half yearly Dividend 10.7354 10.3926 10.4490 - 10.1808 - 10.0165
ZG Direct Growth 14.8600 13.8391 10.7626 10.4078 10.4589 10.2521 10.1841 10.1220 10.0168
ZD Direct Dividend - - - - - - - - 10.0168
ZQ Direct Quarterly Dividend - - 10.7625 - - - - 10.1220 10.0168
Direct Half Yearly Dividend - - 10.4599 - - - 10.0168


380
There were no transactions in credit default swaps during the year ended March 31, 2019. (Previous year - Nil).

Rupees in '000
AXIS FIXED TERM AXIS FIXED TERM
PLAN - SERIES 95 PLAN - SERIES 96 PLAN - SERIES 97 PLAN - SERIES 100 PLAN - SERIES 101 PLAN - SERIES 102 PLAN - SERIES 104
PLAN - SERIES 64 PLAN - SERIES 64
Particulars (1185 DAYS) (1124 DAYS) (1116 DAYS) (1172 DAYS) (1154 DAYS) (1133 DAYS) (1112 DAYS)
Total Reserves
30,388 24,086 68,540 18,566 153,562 5,529 4,898 3,862 1,488
investments as on Balance sheet
date at portfolio level - - 11,110 - - 2,096 2,014 2,017 777
30,388 24,086 57,430 18,566 153,562 3,433 2,884 1,845 711
In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and
Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI has been transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the
unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) / Treps (Tri-Party Repo).
Rupees in '000
20. UNCLAIMED DIVIDEND AND REDEMPTION Rupees in '000
381
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
Unclaimed dividend and redemption gets transferred from schemes to separate pool account and is maintained separately. This disclosure has been carried out in the financial statements for all the
schemes at pool level.
As these are the first financial statements of Axis Fixed Term Plan - Series 95 (1185 Days), Axis Fixed Term Plan - Series 96 (1124 Days), Axis Fixed Term Plan - Series 97 (1116 Days), Axis Fixed Term Plan - Series 100
(1172 Days), Axis Fixed Term Plan - Series 101 (1154 Days), Axis Fixed Term Plan - Series 102 (1133 Days) and Axis Fixed Term Plan - Series 104 (1112 Days) since the date of launch, there are no prior period
comparatives.

To the Trustees of
Axis Mutual Fund – Axis Hybrid Fund - Series 18 (42 Months)
Opinion
We have audited the accompanying financial statements of Axis Hybrid Fund - Series 18 (42 Months) (“the
Scheme”), which comprise the Balance sheet as at July 19, 2018, the Revenue Account and the Cash Flow
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at July 19, 2018;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended July 19, 2018. These matters were addressed in the context
382
383
internal control.
during our audit.
most significance in the audit of the financial statements for the financial year ended July 19, 2018 and are
report that:
Regulations.
384

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
385
To the Trustees of
Axis Mutual Fund – Axis Hybrid Fund - Series 19 (42 Months)
Opinion
We have audited the accompanying financial statements of Axis Hybrid Fund - Series 19 (42 Months) (“the
Scheme”), which comprise the Balance sheet as at August 1, 2018, the Revenue Account and the Cash Flow
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at August 1, 2018;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended August 1, 2018. These matters were addressed in the context
386
387
internal control.
during our audit.
most significance in the audit of the financial statements for the financial year ended August 1, 2018 and are
report that:
Regulations.
388

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
389
To the Trustees of
Opinion
Scheme”), which comprise the Balance sheet as at November 9, 2018, the Revenue Account and the Cash Flow
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at November 9, 2018;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended November 9, 2018. These matters were addressed in the
390
391
internal control.
during our audit.
most significance in the audit of the financial statements for the financial year ended November 9, 2018 and are
report that:
Regulations.
392

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
393
To the Trustees of
Opinion
Scheme”), which comprise the Balance sheet as at November 22, 2018, the Revenue Account and the Cash Flow
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at November 22, 2018;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended November 22, 2018. These matters were addressed in the
394
395
internal control.
during our audit.
most significance in the audit of the financial statements for the financial period ended November 22, 2018 and
are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation
precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter
should not be communicated in our report because the adverse consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such communication.
report that:
Regulations.
396

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
397
To the Trustees of
Opinion
Scheme”), which comprise the Balance sheet as at December 13, 2018, the Revenue Account and the Cash Flow
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at December 13, 2018;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended December 13, 2018. These matters were addressed in the
398
399
internal control.
during our audit.
most significance in the audit of the financial statements for the financial period ended December 13, 2018 and
report that:
Regulations.
400

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
401
To the Trustees of
Opinion
Scheme”), which comprise the Balance sheet as at February 22, 2019, the Revenue Account and the Cash Flow
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at February 22, 2019;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended February 22, 2019. These matters were addressed in the
402
403
internal control.
during our audit.
most significance in the audit of the financial statements for the financial period ended February 22, 2019 and are
report that:
Regulations.
404

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
405
To the Trustees of
Opinion
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended March 8, 2019. These matters were addressed in the context
406
407
internal control.
during our audit.
most significance in the audit of the financial statements for the financial period ended March 8, 2019 and are
report that:
Regulations.
408

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
409
Balance Sheet
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES 22 FUND - SERIES 22 - SERIES 23 (1275 FUND - SERIES 23 FUND - SERIES 24 FUND - SERIES 24 FUND - SERIES 25 FUND - SERIES 25 FUND - SERIES 26 FUND - SERIES 26
18 (42 MONTHS) 18 (42 MONTHS) 19 (42 MONTHS) 19 (42 MONTHS) (1278 DAYS) (1278 DAYS) DAYS) (1275 DAYS) (1276 DAYS) (1276 DAYS) (1278 DAYS) (1278 DAYS) (1276 DAYS) (1276 DAYS)
July 19, 2018 March 31, 2018 August 01, 2018 March 31, 2018 November 09, 2018 March 31, 2018 November 22, 2018 March 31, 2018 December 13, 2018 March 31, 2018 February 22, 2019 March 31, 2018 March 08, 2019 March 31, 2018
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 4,943,556 4,943,556 3,228,408 3,228,408 3,956,728 3,956,728 3,583,107 3,583,107 4,281,633 4,281,633 1,617,052 1,617,052 1,891,444 1,891,444
Reserves and surplus 2(b) & 4 910,873 636,849 529,196 367,892 751,507 457,799 711,824 440,040 937,120 590,023 333,931 212,868 414,444 303,286
Current liabilities 5 7,457 8,501 7,410 5,776 7,456 6,942 7,129 6,366 12,361 7,493 4,233 3,058 4,270 3,586
5,861,886 5,588,906 3,765,014 3,602,076 4,715,691 4,421,469 4,302,060 4,029,513 5,231,114 4,879,149 1,955,216 1,832,978 2,310,158 2,198,316
Investments 2(c) & 6 - 3,780,550 - 2,954,144 - 3,906,048 - 3,579,460 - 4,029,737 - 1,380,273 - 1,850,163
Other current assets 7 5,861,886 1,808,356 3,765,014 647,932 4,715,691 515,421 4,302,060 450,053 5,231,114 849,412 1,955,216 452,705 2,310,158 348,153
5,861,886 5,588,906 3,765,014 3,602,076 4,715,691 4,421,469 4,302,060 4,029,513 5,231,114 4,879,149 1,955,216 1,832,978 2,310,158 2,198,316

410
Jinesh Gopani Ashwin Patni Ashish Naik

Head-Equity Fund Manager-Equity Fund Manager-Equity

Revenue Account
FUND - FUND - FUND - SERIES FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - AXIS HYBRID FUND - FUND - FUND -
SERIES 18 (42 SERIES 18 (42 19 (42 SERIES 19 (42 FUND - SERIES 22 SERIES 22 FUND - SERIES 23 SERIES 23 FUND - SERIES 24 SERIES 24 FUND - SERIES SERIES 25 SERIES 26 SERIES 26
MONTHS) MONTHS) MONTHS) MONTHS) (1278 DAYS) (1278 DAYS) (1275 DAYS) (1275 DAYS) (1276 DAYS) (1276 DAYS) 25 (1278 DAYS) (1278 DAYS) (1276 DAYS) (1276 DAYS)
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017
Schedule
INCOME AND GAINS
Interest 2(d) & 8 120,962 417,846 84,615 263,803 211,215 321,966 209,270 288,885 270,495 338,817 110,841 124,150 134,405 141,843
Profit on sale/redemption of investments (including F&O), net 2(d) 11,016 - - - 17,339 - 54,685 - 149,186 56 66,144 - 118,872 -
Profit on inter-scheme transfer/sale of investments, net 2(d) - 388 - - - - - - - 204 - - - -
Other Income 6 - 14 - - - 16 - 5 - - - - -
Net change in marked to market in value of investments 2(c) & 6(ii) 182,386 89,618 158,167 63,544 131,656 69,504 72,714 75,935 10,146 102,205 (11,946) 17,937 (86,234) 59,528
Total 314,370 507,852 242,796 327,347 360,210 391,470 336,685 364,820 429,832 441,282 165,039 142,087 167,043 201,371
EXPENSES AND LOSSES
Loss on sale/redemption of investments (including F&O), net 2(d) - 24,499 51,812 10,246 - 770 - 1,776 - - - 2,138 - 2,352
Loss on inter-scheme transfer/sale of investments, net 2(d) - - - 122 - 3 199 191 - - 2,223 - 4,683 -
Management fee 9 33,304 115,886 24,621 78,121 52,486 86,249 49,666 79,503 60,534 93,858 27,857 37,875 33,307 44,238
Service Tax / GST on Management Fees 5,994 20,014 4,432 13,494 9,448 14,904 8,940 13,740 10,896 16,219 5,014 6,542 5,996 7,644
Trusteeship fee 9 14 38 11 25 21 30 19 27 26 33 12 13 15 15
Investor education expense 350 1,114 252 716 566 880 546 800 722 970 346 366 430 436
Custodian service charges 65 675 - 434 107 532 107 483 147 586 77 221 98 263
Registrar service charges 144 2,613 5 1,679 424 2,062 458 1,877 1,107 2,274 674 856 950 1,021
Commission to distributors - - - - 3,007 - 4,489 - 8,810 - 7,657 - 10,252 -
411
Audit fee 65 90 40 90 96 90 96 90 59 90 2 89 12 89
Listing fee 26 73 28 73 47 72 51 74 55 74 32 39 36 39
Other operating expenses 384 161 291 103 300 128 330 117 379 138 82 51 106 61
Less: Expenses reimbursed/to be reimbursed by AMC - (1,423) - (1,330) - (715) - (667) - (771) - (539) - (183)
Total 40,346 163,740 81,492 103,773 66,502 105,005 64,901 98,011 82,735 113,471 43,976 47,651 55,885 55,975
Surplus / (Deficit) for the year/period 274,024 344,112 161,304 223,574 293,708 286,465 271,784 266,809 347,097 327,811 121,063 94,436 111,158 145,396
Transfer from / (to) unrealised appreciation reserve - - - - - - - - - - 11,946 (11,946) 86,234 (59,528)
Surplus / (Deficit) transferred to the retained surplus 4 274,024 344,112 161,304 223,574 293,708 286,465 271,784 266,809 347,097 327,811 133,009 82,490 197,392 85,868



Cash Flow Statement

AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND - AXIS HYBRID AXIS HYBRID FUND - AXIS HYBRID AXIS HYBRID FUND - AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID AXIS HYBRID
Particulars FUND - SERIES FUND - SERIES FUND - SERIES FUND - SERIES SERIES 22 (1278 FUND - SERIES SERIES 23 (1275 FUND - SERIES SERIES 24 (1276 FUND - SERIES - SERIES 25 (1278 FUND - SERIES FUND - SERIES FUND - SERIES 26
18 (42 MONTHS) 18 (42 MONTHS) 19 (42 MONTHS) 19 (42 MONTHS) DAYS) 22 (1278 DAYS) DAYS) 23 (1275 DAYS) DAYS) 24 (1276 DAYS) DAYS) 25 (1278 DAYS) 26 (1276 DAYS) (1276 DAYS)
Net Surplus / (Deficit) for the year/period 274,024 344,112 161,304 223,574 293,708 286,465 271,784 266,809 347,097 327,811 121,063 94,436 111,158 145,396
Adjustments for:-
Net change in marked to market in value of investments (182,386) (89,618) (158,167) (63,544) (131,656) (69,504) (72,714) (75,935) (10,146) (102,205) 11,946 (17,937) 86,234 (59,528)
(Increase)/Decrease in investments at cost 3,962,936 1,060,061 3,112,311 156,238 4,037,703 65,013 3,652,175 (22,514) 4,039,883 304,043 1,368,327 304,448 1,763,929 175,790
(Increase)/Decrease in other current assets 582,509 (183,182) 277,339 (76,426) 269,972 (76,767) 409,060 (141,719) 420,962 (107,802) 73,688 (42,172) 38,394 (7,797)
Increase/(Decrease) in current liabilities (1,044) 4,475 1,634 3,049 515 3,892 762 3,613 4,868 4,242 1,175 1,694 684 2,016
Net cash used in operations 4,636,039 1,135,848 3,394,421 242,891 4,470,242 209,099 4,261,067 30,254 4,802,664 426,089 1,576,199 340,469 2,000,399 255,877
Net increase/(decrease) in cash and cash equivalents 4,636,039 1,135,848 3,394,421 242,891 4,470,242 209,099 4,261,067 30,254 4,802,664 426,089 1,576,199 340,469 2,000,399 255,877
Cash and Cash Equivalents as at the beginning of the year/period 1,225,761 89,913 370,346 127,455 244,947 35,848 40,587 10,333 428,252 2,163 379,015 38,546 309,759 53,882
Cash and cash equivalents as at the end of the year/period 5,861,800 1,225,761 3,764,767 370,346 4,715,189 244,947 4,301,654 40,587 5,230,916 428,252 1,955,214 379,015 2,310,158 309,759
Component of cash and cash equivalents July 19, 2018 March 31, 2018 August 1, 2018 March 31, 2018 November 9, 2018 March 31, 2018 November 22, 2018 March 31, 2018 December 13, 2018 March 31, 2018 February 22, 2019 March 31, 2018 March 8, 2019 March 31, 2018
Balances with banks in current accounts 712 45,874 379 81 259 104 187 10 256 24,549 14 32,468 121 69
Collateralised lending / Tri-Party Repo 5,861,088 1,179,887 3,764,388 370,265 4,714,930 244,843 4,301,467 40,577 5,230,660 403,703 1,955,200 346,547 2,310,037 309,690
Total 5,861,800 1,225,761 3,764,767 370,346 4,715,189 244,947 4,301,654 40,587 5,230,916 428,252 1,955,214 379,015 2,310,158 309,759
As per our report of even date. - -
412
For and on behalf of For and on behalf of


Schedules to the financial statements for the period ended as at reporting date
1. BACKGROUND
In accordance with the Securities and Exchange Board of India('SEBI') (MutualFunds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of Axis Mutual
Fund Trustee Limited ('the Trustee') has appointed Axis Asset Management Company Limited ('the AMC') to manage the Fund's affairs and operate its Schemes.
Axis Bank Limited holds 75% less one equity share of the total issued and paid up equity share capital of Axis Asset ManagementCompany Limited and the balance 25%
plus one equity share is held by Schroders Investment Management(Singapore) Limited (SIMSL) through its wholly owned subsidiary, Schroders Singapore Holdings
Private Limited (SSHPL), both subsidiaries of Schroders plc.
NFO Close
Axis Hybrid Fund - Series 18 A close ended debt scheme To generate income by investing in high quality fixed income December 29, 2014 Growth
(42 Months) securities that are maturing on or before the maturity of the to Dividend
Scheme whilst the secondary objective is to generate January 12, 2015 Direct Growth
returns.
Axis Hybrid Fund - Series 19 A close ended debt scheme To generate income by investing in high quality fixed income January 15, 2015 Growth
(42 Months) securities that are maturing on or before the maturity of the to Dividend
Scheme whilst the secondary objective is to generate January 29, 2015 Direct Growth
returns.
Axis Hybrid Fund - Series 22 A close ended debt scheme To generate income by investing in high quality fixed income April 21, 2015 Growth
Scheme whilst the secondary objective is to generate May 05, 2015 Direct Growth
returns.
Axis Hybrid Fund - Series 23 A close ended debt scheme To generate income by investing in high quality fixed income May 08, 2015 Growth
Scheme whilst the secondary objective is to generate May 22, 2015 Direct Growth
returns.
Axis Hybrid Fund - Series 24 A close ended debt scheme To generate income by investing in high quality fixed income May 28, 2015 Growth
Scheme whilst the secondary objective is to generate June 11, 2015 Direct Growth
returns.
Scheme whilst the secondary objective is to generate August 19, 2015 Direct Growth
returns.
Scheme whilst the secondary objective is to generate September 04, 2015 Direct Growth
returns.
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each other, or are
413
Schedules to the financial statements for the period ended as at reporting date (Contd.)
The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked-to-
market’. The significant accounting policies, which are in accordance with the SEBI Regulations and have been approved by the Boards of Directors of the AMC and the
Trustee, are stated below.
investments, and expenses accrued, are allocated to the related plans in proportionto their respective daily net assets arrived at by multiplyingday-end outstandingunits
by previous day's closing NAV.
(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction costs, CCIL
charges and any other charges customarily included in the broker’s note. Capitalisationof such brokerage and transaction costs incurred for the purpose of execution of
trades is restricted to 12 bps in case of cash market transactions and 5 bps in case of derivativetransactions. Any cost in excess of the specified limit is charged to the
revenue account of the scheme as part of the total expense ratio.
In case of purchase of interest bearing securities, interest paid for the period from the last interest due date upto the date of purchase is treated as interest receivable and
debited to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale is credited to ‘Accrued
Income Account’.
Investments in equity and equity related securities which have traded during a period of thirty days (prior to the balance sheet date) are stated at the closing prices on the
balance sheet date or the last trading day before the balance sheet date, as may be applicable, on The National Stock Exchange of India Limited (principal stock
exchange). When on a particular valuation day, a security has not been traded on the principal stock exchange, the value at which it is traded on The Bombay Stock
Exchange Limited is used.
Options / futures are valued at the closing price on the stock exchange on which the same were contracted originally. In case, the closing price is not available on
valuationdate on the respective stock exchange, settlement price is considered for valuation.Futures contracts, which are going to expire on valuation date are valued at
settlement price.
valuationdate. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV published on AMFIwebsite as
on the valuation date.
Governmentsecurities (including State Development Loans) are valued at the average of the prices released by CRISIL and ICRA, as suggested by AMFI,on the basis of
the valuation principles laid down by SEBI.
suggested by AMFI,on the basis of the valuationprinciples laid down by SEBI. The difference between last traded/valuedprice and next business day's (T+1) aggregated
price received from CRISIL and ICRA is amortised linearly upto the day preceding the next business day.
Treasury bills (including cash management bills) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades done by schemes
managed by the AMC. If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost
based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the
valuation is within a ±0.10% band of the price derived as per the reference yields providedby the Valuation Agencies (CRISIL and ICRA). In case the amortized value is
outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.
All debt securities (including Bills Purchased under rediscounting schemes) with residual maturity upto 60 days, are valued based on yield to maturity derived from trades
done by schemes managed by the AMC. If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of
amortized cost based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as
long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Valuation Agencies (CRISIL and ICRA). In case the
All debt securities (including Bills Purchased under rediscounting schemes) with residual maturity greater than 60 days, are valued using the simple average of the prices
released by CRISIL and ICRA, as suggested by AMFI.In case of new purchases which are not a part of the list of CRISIL and ICRA security level pricing, such securities
are valued at weighted average cost/yield on the day of purchase.
The net unrealized appreciation / depreciation in the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between two balance
sheet dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation reserve.
414
3. Unit Capital AXISH18 AXISH19
AXIS HYBRID FUND - SERIES 18 AXIS HYBRID FUND - SERIES 18 AXIS HYBRID FUND - SERIES 19 AXIS HYBRID FUND - SERIES 19 (42
(42 MONTHS) (42 MONTHS) (42 MONTHS) MONTHS)
July 19, 2018 March 31, 2018 August 01, 2018 March 31, 2018
Initial Capital 494,355,574.280 4,943,556 494,355,574.280 4,943,556 322,840,760.000 3,228,408 322,840,760.000 3,228,408

Growth
Issued
-during the period/year - - - - - - - -
RGRedeemed during the year/period - - - - - - - -
Dividend
415
Issued
RDRedeemed during the year/period - - - - - - - -
Direct Growth
Issued
ZG Redeemed during the year/period - - - - - - - -
Direct Dividend
Outstanding, beginning of year/period 26,750.000 268 26,750.000 268 13,986.000 140 13,986.000 140
Issued
ZD Redeemed during the year/period - - - - - - - -
Outstanding, end of year/period 26,750.000 268 26,750.000 268 13,986.000 140 13,986.000 140
Total
Issued
3. Unit Capital (Contd.) AXISH22 AXISH23 -

November 09, 2018 March 31, 2018 November 22, 2018 March 31, 2018
Initial Capital 395,672,712.000 3,956,728 395,672,712.000 3,956,728 358,310,689.000 3,583,107 358,310,689.000 3,583,107

Growth
Issued
Dividend
416
Issued
Direct Growth
Issued
Direct Dividend
Outstanding, beginning of year/period 66,000.000 660 66,000.000 660 53,500.000 535 53,500.000 535
Issued
Outstanding, end of year/period 66,000.000 660 66,000.000 660 53,500.000 535 53,500.000 535
Total
Issued
AXISH24 AXISH25
AXIS HYBRID FUND - SERIES 24 AXIS HYBRID FUND - SERIES 24 AXIS HYBRID FUND - SERIES 25 (1278 AXIS HYBRID FUND - SERIES 25
(1276 DAYS) (1276 DAYS) DAYS) (1278 DAYS)
December 13, 2018 March 31, 2018 February 22, 2019 March 31, 2018
Initial Capital 428,163,260.000 4,281,633 428,163,260.000 4,281,633 161,705,146.000 1,617,052 161,705,146.000 1,617,052

Growth
Issued
Dividend
417
Issued
Direct Growth
Issued
Direct Dividend
Outstanding, beginning of year/period 500.000 5 500.000 5 40,000.000 400 40,000.000 400
Issued
Outstanding, end of year/period 500.000 5 500.000 5 40,000.000 400 40,000.000 400
Total
Issued
AXISH26
AXIS HYBRID FUND - SERIES 26 AXIS HYBRID FUND - SERIES 26
(1276 DAYS) (1276 DAYS)
March 08, 2019 March 31, 2018
Face Value Rs. 10 each fully paid up Face Value Rs. 10 each fully paid up
Quantity Amount Quantity Amount
(Rs. in 000's) (Rs. in 000's)
Initial Capital 189,144,338.000 1,891,444 189,144,338.000 1,891,444

Growth
Issued
-during the period/year - - - -
Dividend
Outstanding, beginning of year/period 2,201,570.000 22,016 2,201,570.000 22,016
418
Issued
Direct Growth
Issued
Direct Dividend
Issued
Total
Issued
Rupees in '000
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND - AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND
FUND - SERIES 18 FUND - SERIES 18 FUND - SERIES 19 FUND - SERIES 19 FUND - SERIES 22 - SERIES 22 (1278 FUND - SERIES 23 FUND - SERIES 23 SERIES 24 (1276 - SERIES 24 (1276 FUND - SERIES 25 FUND - SERIES 25 FUND - SERIES 26 - SERIES 26 (1276
(42 MONTHS) (42 MONTHS) (42 MONTHS) (42 MONTHS) (1278 DAYS) DAYS) (1275 DAYS) (1275 DAYS) DAYS) DAYS) (1278 DAYS) (1278 DAYS) (1276 DAYS) DAYS)

Balance, beginning of year/period - - - - - - - - - - 11,946 - 86,234 26,706
Unrealised appreciation in value of investments - - - - - - - - - - (11,946) 11,946 (86,234) 59,528
Balance, end of year/period - - - - - - - - - - - 11,946 - 86,234
Retained surplus
Balance, beginning of year/period 636,849 292,737 367,892 144,318 457,799 171,334 440,040 173,231 590,023 262,212 200,922 118,432 217,052 131,184
Surplus transferred from revenue account 274,024 344,112 161,304 223,574 293,708 286,465 271,784 266,809 347,097 327,811 133,009 82,490 197,392 85,868
Balance, end of year/period 910,873 636,849 529,196 367,892 751,507 457,799 711,824 440,040 937,120 590,023 333,931 200,922 414,444 217,052
Total reserves 910,873 636,849 529,196 367,892 751,507 457,799 711,824 440,040 937,120 590,023 333,931 212,868 414,444 303,286
The share of the plans in the reserves and

surplus is as follows:
RG Growth 889,548 621,906 517,671 359,780 734,176 447,185 697,925 431,401 919,668 579,005 326,484 208,112 409,019 299,322
RD Dividend 20,192 14,116 8,563 5,954 15,587 9,494 12,227 7,558 15,984 10,063 6,590 4,201 4,823 3,529
ZG Direct Growth 1,072 782 2,933 2,137 1,583 1,016 1,536 993 1,467 954 752 487 595 430
ZD Direct Dividend 61 45 29 21 161 104 136 88 1 1 105 68 7 5
910,873 636,849 529,196 367,892 751,507 457,799 711,824 440,040 937,120 590,023 333,931 212,868 414,444 303,286
Amount due to AMC
- Management fees 6,836 7,978 7,010 5,407 4,318 6,462 2,391 5,964 3,349 7,025 370 2,826 490 3,324
419
- Others - - - - - - - - - - - - - -
Trusteeship fee payable 3 3 4 2 3 3 3 2 3 3 1 1 1 1
Audit fee payable 144 81 120 81 94 81 94 81 57 81 1 81 11 81
Registrar service fees payable 144 207 - 133 - 163 - 149 - 180 142 67 313 81
Commission to distributors payable - - - - 3,007 - 4,489 - 8,810 - 3,594 - 3,375 -
Custody fees payable - 63 - 40 7 49 16 45 37 55 36 20 48 25
Investor education expense payable 60 96 66 62 24 76 52 68 38 84 24 32 10 38
Other current liabilities 270 73 210 51 3 108 84 57 67 65 65 31 22 36
7,457 8,501 7,410 5,776 7,456 6,942 7,129 6,366 12,361 7,493 4,233 3,058 4,270 3,586
6. INVESTMENTS
Privately placed / unlisted debentures and bonds - 50,021 - - - - - - - - - - - -
Listed debentures and bonds - 2,728,414 - 2,121,178 - 3,104,005 - 2,959,755 - 3,282,859 - 1,091,198 - 1,297,099
Certificates of deposit - 370,296 - 462,858 - 242,378 - 48,476 - 9,984 - - - 141,557
Options - 631,819 - 370,108 - 559,665 - 571,229 - 736,894 - 289,075 - 411,507
- 3,780,550 - 2,954,144 - 3,906,048 - 3,579,460 - 4,029,737 - 1,380,273 - 1,850,163

- appreciation - - - - - - - - - - - - - -
- depreciation - 292 - - - - - - - - - - - -
- appreciation - 11,187 - 6,038 - 9,036 - 10,198 - 12,820 - 1,652 - 1,929
- depreciation - 9,026 - 2,749 - 13,065 - 25,439 - 14,370 - 6,744 - 6,558
- appreciation - 48 - - - 451 - 76 - - - - - 163
- depreciation - 18 - 523 - - - - - 2 - - - -
Options
- appreciation - - - - - - - - - 8,666 - 17,038 - 90,700
- depreciation - 184,285 - 160,933 - 128,077 - 57,549 - 17,260 - - - -
Rupees in '000
- amount 1,967,920 2,012,477 2,922,915 1,014,707 2,337,322 330,708 2,161,288 407,812 6,152,774 823,983 1,832,534 661,427 2,010,150 633,618
Sales (excluding collateralised lending/Tri-Party

- amount 5,128,343 2,495,137 5,544,450 1,297,401 5,724,793 495,811 5,168,069 389,747 9,465,642 805,787 2,955,377 690,896 3,500,101 833,177
- amount 837,625 - 479,796 - 726,660 - 722,145 - 921,142 - 347,475 - 446,813 -
- as a percentage of average daily net assets 14.44% - 12.86% - 15.70% - 17.11% - 17.99% - 18.04% - 19.47% -
- - - - - - - -
- -
(iv) The aggregate purchases made by all schemes of the fund during the current period, previous year and the fair value of such investments as on reporting date in companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are
provided in Attachment 1.
420
Rupees in '000
- 3,304,251 - 2,862,206 - 3,634,510 - 3,537,684 - 3,924,263 - 1,091,198 - 1,850,162
Rupees in '000
Balances with banks in current accounts 712 45,874 379 81 259 104 187 10 256 24,549 14 32,468 121 69
Outstanding and accrued income - 581,172 - 276,256 - 269,759 - 408,799 - 420,389 - 73,151 - 38,211
Amount due from AMC 86 1,423 247 1,330 502 715 406 667 198 771 2 539 - 183
Collateralised lending / Tri-Party Repo 5,861,088 1,179,887 3,764,388 370,265 4,714,930 244,843 4,301,467 40,577 5,230,660 403,703 1,955,200 346,547 2,310,037 309,690
5,861,886 1,808,356 3,765,014 647,932 4,715,691 515,421 4,302,060 450,053 5,231,114 849,412 1,955,216 452,705 2,310,158 348,153
8. INTEREST
Money market instruments 17,567 10,043 13,772 17,532 16,938 243 14,928 58 25,758 261 36,383 - 52,900 1,145
Debentures and bonds 79,502 394,706 59,527 241,229 163,943 319,689 159,724 286,457 210,257 335,703 58,534 121,408 65,821 138,056
Government securities (including treasury bills) 2,583 6,258 - 3,166 5,412 461 6,615 - 6,445 878 - 753 389 -
Collateralised lending / Tri-Party Repo 21,310 6,839 11,316 1,876 24,922 1,573 28,003 2,370 28,035 1,975 15,924 1,989 15,295 2,642
120,962 417,846 84,615 263,803 211,215 321,966 209,270 288,885 270,495 338,817 110,841 124,150 134,405 141,843
The Schemes pay fees for investment management services under an agreement with the AMC, which provides for computation of such fee as a percentage of Scheme's average daily net assets, after excluding the net asset value of the investments by the AMC in the scheme, the net asset value of the investments made in other schemes and fixed
deposits including interest thereon as applicable. During the year/period ended on reporting date, the Schemes have paid management fee at annualised average rate as follows:
annualised average rate 1.90% 2.08% 2.01% 2.18% 1.86% 1.96% 1.82% 1.99% 1.68% 1.94% 1.61% 2.07% 1.55% 2.03%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is subject to the ceiling of 0.10% per
annum on average net assets of all the schemes.
Income (net off realised loss on sale of investment
and excluding net change in marked to market in
value of investments)
- amount 131,984 393,735 32,817 253,435 228,554 321,193 263,772 286,918 419,686 339,077 174,762 122,012 248,594 139,491
421
investment)
- amount 40,346 139,241 29,680 93,405 66,502 104,232 64,702 96,044 82,735 113,471 41,753 45,513 51,202 53,623
(i)
The Schemes have entered into transactions with related parties. The information required in this regard in accordance with Accounting Standard 18 on 'Related Party
Disclosures' issued by the Institute of Chartered Accountants of India is provided below.


422
Axis Banking & PSU Debt Fund Axis Equity Hybrid Fund
Axis Arbitrage Fund Axis Ultra Short Term Fund
Axis Equity Saver Fund Axis Growth Opportunities Fund
Axis Children's Gift Fund Axis Capital Builder Fund - Series 4 (1582 Days)

Rupees in '000
AXIS HYBRID FUND - SERIES 18 (42 MONTHS) AXIS HYBRID FUND - SERIES 19 (42 MONTHS) AXIS HYBRID FUND - SERIES 22 (1278 DAYS)
Period ended Year ended Balance as at Balance as at Period ended Year ended Balance as at Balance as at November 09, Year ended Balance as at Balance as at
Name of related party Nature of transactions July 19, 2018 March 31, 2018 July 19, 2018 March 31, 2018 August 01, 2018 March 31, 2018 August 01, 2018 March 31, 2018 2018 March 31, 2018 November 09, 2018 March 31, 2018

Axis Asset Management Company Limited Receivable for other expenses - - 86 1,423 - - 247 1,330 - - 502 715
Rupees in '000
AXIS HYBRID FUND - SERIES 23 (1275 DAYS) AXIS HYBRID FUND - SERIES 24 (1276 DAYS) AXIS HYBRID FUND - SERIES 25 (1278 DAYS)
Period ended Year ended Balance as at Balance as at Period ended Year ended December 13, Balance as at Period ended Year ended Balance as at Balance as at
Name of related party Nature of transactions November 22, 2018 March 31, 2018 November 22, 2018 March 31, 2018 December 13, 2018 March 31, 2018 2018 March 31, 2018 February 22, 2019 March 31, 2018 February 22, 2019 March 31, 2018
Axis Asset Management Company Limited (including Service Tax/GST) 58,606 93,243 2,391 5,969 71,430 110,077 3,349 7,035 32,871 44,417 370 2,828
Axis Asset Management Company Limited Receivable for other expenses - - 406 667 - - 198 771 - - 2 539
Rupees in '000
AXIS HYBRID FUND - SERIES 26 (1276 DAYS)
Period ended Year ended Balance as at Balance as at
Name of related party Nature of transactions March 08, 2019 March 31, 2018 March 08, 2019 March 31, 2018
Axis Asset Management Company Limited (including Service Tax/GST) 39,303 51,882 490 3,327
Axis Asset Management Company Limited Receivable for other expenses - - - 183
Rupees in '000
423
AXIS HYBRID AXIS HYBRID
Name of sponsor, associates, employees AXIS HYBRID FUND - AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
FUND - SERIES FUND - SERIES
or their relatives of AMC (Nature of SERIES 18 (42 FUND - SERIES FUND - SERIES 22 - SERIES 22 (1278 FUND - SERIES 23 FUND - SERIES FUND - SERIES FUND - SERIES 24 FUND - SERIES FUND - SERIES FUND - SERIES 26 FUND - SERIES
18 (42 19 (42
relation) MONTHS) 19 (42 MONTHS) (1278 DAYS) DAYS) (1275 DAYS) 23 (1275 DAYS) 24 (1276 DAYS) (1276 DAYS) 25 (1278 DAYS) 25 (1278 DAYS) (1276 DAYS) 26 (1276 DAYS)
MONTHS) MONTHS)
Period ended
Year ended Year ended Year ended Year ended Year ended Year ended Year ended
Period ended Period ended Period ended Period ended December 13, Period ended Period ended
July 19, 2018 August 01, 2018 November 09, 2018 November 22, 2018 2018 February 22, 2019 March 08, 2019
Bank charges 2 # 1 # 1 # 1 # # # # # # #
Commission paid on distribution of units - - - - 2,929 - 4,403 - 6,169 - 7,254 - 9,533 -
Commission paid on distribution of units - - - - 1 - 1 - 1 - 2 - 1 -
# Amount less than Rs. 0.5 thousand - - - -
Associate have been paid commission on normal commercial terms at an arm's length basis for procuring unit subscriptions for the Schemes.
F.Y. 2018-2019 - Nil
F.Y. 2017-2018 - Nil
Rupees in '000
AXIS HYBRID FUND - AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND - AXIS HYBRID FUND AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID FUND AXIS HYBRID
SERIES 18 (42 FUND - SERIES FUND - SERIES 19 FUND - SERIES FUND - SERIES 22 SERIES 22 (1278 - SERIES 23 (1275 FUND - SERIES 23 FUND - SERIES 24 FUND - SERIES 24 FUND - SERIES FUND - SERIES - SERIES 26 (1276 FUND - SERIES
companies
MONTHS) 18 (42 MONTHS) (42 MONTHS) 19 (42 MONTHS) (1278 DAYS) DAYS) DAYS) (1275 DAYS) (1276 DAYS) (1276 DAYS) 25 (1278 DAYS) 25 (1278 DAYS) DAYS) 26 (1276 DAYS)
Period ended
Period ended Year ended Period ended Year ended Period ended Year ended Period ended Year ended Year ended Period ended Year ended Period ended Year ended
December 13,
July 19, 2018 March 31, 2018 August 01, 2018 March 31, 2018 November 09, 2018 March 31, 2018 November 22, 2018 March 31, 2018 March 31, 2018 February 22, 2019 March 31, 2018 March 08, 2019 March 31, 2018
2018
Axis Bank Limited *
Investment made by the Scheme - - - - - - - - - - - - - -
Investment made by other schemes 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231
Total investments 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231

14. NET ASSET VALUE
Rupees
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
Options FUND - SERIES FUND - SERIES 18 FUND - SERIES 19 FUND - SERIES 19 FUND - SERIES 22 FUND - SERIES 22 FUND - SERIES 23 FUND - SERIES 23 FUND - SERIES 24 FUND - SERIES 24 FUND - SERIES 25 FUND - SERIES 25 FUND - SERIES 26 FUND - SERIES 26
18 (42 MONTHS) (42 MONTHS) (42 MONTHS) (42 MONTHS) (1278 DAYS) (1278 DAYS) (1275 DAYS) (1275 DAYS) (1276 DAYS) (1276 DAYS) (1278 DAYS) (1278 DAYS) (1276 DAYS) (1276 DAYS)
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
RG Growth 11.8421 11.2879 11.6372 11.1378 11.8983 11.1563 11.9856 11.2273 12.1880 11.3775 12.0639 11.3156 12.1905 11.6030
RD Dividend 11.8420 11.2878 11.6391 11.1397 11.8984 11.1563 11.9856 11.2273 12.1880 11.3775 12.0639 11.3156 12.1905 11.6030
ZG Direct Growth 12.2913 11.6724 12.0813 11.5161 12.4446 11.5696 12.5345 11.6375 12.7475 11.7863 12.6213 11.6977 12.7528 11.9891
ZD Direct Dividend 12.2913 11.6724 12.0776 11.5125 12.4446 11.5696 12.5345 11.6375 12.7555 11.7914 12.6214 11.6978 12.7535 11.9893
The net asset value disclosed above represents the declared NAV as on balance sheet date.

Contingent liabilities as at reporting date : Nil (Previous year - Nil).
16.
SEGMENT REPORTING

There were no transactions in credit default swaps for the period ended as at reporting date. (Previous year - Nil).
Rupees in '000
AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID AXIS HYBRID
FUND - SERIES FUND - SERIES 18 FUND - SERIES 19 FUND - SERIES 19 FUND - SERIES 22 FUND - SERIES 22 FUND - SERIES 23 FUND - SERIES 23 FUND - SERIES 24 FUND - SERIES 24 FUND - SERIES 25 FUND - SERIES 25 FUND - SERIES 26 FUND - SERIES 26
424
18 (42 MONTHS) (42 MONTHS) (42 MONTHS) (42 MONTHS) (1278 DAYS) (1278 DAYS) (1275 DAYS) (1275 DAYS) (1276 DAYS) (1276 DAYS) (1278 DAYS) (1278 DAYS) (1276 DAYS) (1276 DAYS)
Particulars
Total Reserves
910,873 636,849 529,196 367,892 751,507 457,799 711,824 440,040 937,120 590,023 333,931 212,868 414,444 303,286
portfolio level
- - - - - - - - - - - 11,946 - 86,234
910,873 636,849 529,196 367,892 751,507 457,799 711,824 440,040 937,120 590,023 333,931 200,922 414,444 217,052
In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI has been
transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) / Treps (Tri-Party Repo).

Rupees in '000


Rupees in '000
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425
The current period figures for Axis Hybrid Fund - Series 18 (42 Months), Axis Hybrid Fund - Series 19 (42 Months), Axis Hybrid Fund - Series 22 (1278 Days), Axis Hybrid Fund - Series 23 (1275 Days), Axis Hybrid Fund - Series 24 (1276 Days), Axis Hybrid Fund - Series 25 (1278 Days) and Axis Hybrid Fund - Series 26 (1276
Days) are for a period of less than one year and hence are not comparable
Prior period figures have been reclassified and regrouped, wherever applicable, to conform to current year's presentation.
425


To the Trustees of
Opinion
which comprise the Balance sheet as at April 17, 2018, the Revenue Account and the Cash Flow Statement for
the period then ended, and notes to the financial statements, including a summary of significant accounting
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at April 17, 2018;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended April 17, 2018. These matters were addressed in the context
426
427
internal control.
during our audit.
most significance in the audit of the financial statements for the financial year ended April 17, 2018 and are
report that:
Regulations.
428

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
429
To the Trustees of
Opinion
which comprise the Balance sheet as at April 18, 2018, the Revenue Account and the Cash Flow Statement for
the period then ended, and notes to the financial statements, including a summary of significant accounting
Basis for Opinion
Key Audit Matters
430
431
internal control.
during our audit.
report that:
Regulations.
432

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
433
To the Trustees of
Opinion
Scheme”), which comprise the Balance sheet as at April 3, 2018, the Revenue Account and the Cash Flow
Basis for Opinion
Key Audit Matters
434
435
internal control.
during our audit.
report that:
Regulations.
436

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
437
To the Trustees of
Axis Mutual Fund – Axis Fixed Term Plan – Series 92 (154 Days)
Opinion
We have audited the accompanying financial statements of Axis Fixed Term Plan – Series 92 (154 Days) (“the
Scheme”), which comprise the Balance sheet as at September 27, 2018, the Revenue Account and the Cash Flow
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at September 27, 2018;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended September 27, 2018. These matters were addressed in the
438
439
internal control.
during our audit.
most significance in the audit of the financial statements for the financial period ended September 27, 2018 and
report that:
Regulations.
440

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
441
To the Trustees of
Opinion
Scheme”), which comprise the Balance sheet as at September 11, 2018, the Revenue Account and the Cash Flow
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at September 11, 2018;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended September 11, 2018. These matters were addressed in the
442
443
internal control.
during our audit.
most significance in the audit of the financial statements for the financial year ended September 11, 2018 and are
report that:
Regulations.
444

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
445
To the Trustees of
Opinion
Scheme”), which comprise the Balance sheet as at December 13, 2018, the Revenue Account and the Cash Flow
(a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at December 13, 2018;
Basis for Opinion
Key Audit Matters
the financial statements for the financial period ended December 13, 2018. These matters were addressed in the
446
447
internal control.
during our audit.
most significance in the audit of the financial statements for the financial year ended December 13, 2018 and are
report that:
Regulations.
448

______________________________
per Jayesh Gandhi
Partner

Date: May 28, 2019
449
Balance Sheet
AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
PLAN - SERIES 74 PLAN - SERIES 74 PLAN – SERIES 92 PLAN - SERIES 93 PLAN - SERIES 94
PLAN - SERIES 49 PLAN - SERIES 49 PLAN - SERIES 52 PLAN - SERIES 52
(1105 DAYS) (1105 DAYS) (154 DAYS) (91 DAYS) (177 DAYS)
April 17, 2018 March 31, 2018 April 18, 2018 March 31, 2018 April 03, 2018 March 31, 2018 September 27, 2018 September 11, 2018 December 13, 2018
Schedule
SOURCES OF FUNDS
Unit capital 2(b) & 3 383,923 383,923 234,924 234,924 299,300 299,300 2,865,646 1,516,600 1,133,032
Reserves and surplus 2(b) & 4 154,008 152,461 94,157 93,161 80,694 80,529 88,428 26,211 41,992
Current liabilities 5 98 8,381 93 93 131 39,188 591 2,650 866
538,029 544,765 329,174 328,178 380,125 419,017 2,954,665 1,545,461 1,175,890
Investments 2(c) & 6 - 230,542 - 135,029 - 39,055 - - -

Other current assets 7 538,029 314,223 329,174 193,149 380,125 379,962 2,954,665 1,545,461 1,175,890
538,029 544,765 329,174 328,178 380,125 419,017 2,954,665 1,545,461 1,175,890
450

Revenue Account
AXIS FIXED AXIS FIXED
AXIS FIXED AXIS FIXED AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
TERM PLAN - TERM PLAN - PLAN – SERIES 92 PLAN - SERIES 93 PLAN - SERIES 94
PLAN - SERIES 49 PLAN - SERIES 52 SERIES 74 (1105 SERIES 74 (1105
SERIES 49 SERIES 52 (154 DAYS) (91 DAYS) (177 DAYS)
DAYS) DAYS)
April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 01, 2018 April 01, 2017 April 27, 2018 June 13, 2018 June 20, 2018
Schedule
INCOME
Interest 2(d) & 8 1,535 40,535 996 24,880 168 28,817 89,384 28,898 42,614
Profit on sale/redemption of investments, net 2(d) - - - - - - 855 - 664
Profit on inter-scheme transfer/sale of investments, net 2(d) - - - - - - - 250 -
Other Income 2 - - - 1 - 14 - 2
Net change in marked to market in value of investments 2(c) & 6(ii) 30 86 19 29 - 572 - - -
Total 1,567 40,621 1,015 24,909 169 29,389 90,253 29,148 43,280
EXPENSES AND LOSSES

Loss on sale/redemption of investments, net 2(d) 2 4,946 1 3,011 - 3,853 - 99 -
Loss on inter-scheme transfer/sale of investments, net 2(d) - - - - - - 13 - -
Management fee 9 5 112 7 132 4 476 901 157 280
Service Tax / GST on Management Fees # 20 2 23 # 81 162 28 50
Trusteeship fee 9 # 4 # 2 # 3 10 3 5
451
Investor education expense 6 104 4 64 # 74 246 76 112
Custodian service charges - 40 1 25 - 28 21 - 9
Registrar service charges - 140 - 140 - 141 305 72 100
Commission to distributors - - - - - - - - 23
Audit fee - 59 1 59 # 59 60 36 60
Listing fee - 14 1 14 # 14 20 12 23
Other operating expenses 7 11 2 12 # 10 67 60 14
Less: Expenses reimbursed/to be reimbursed by AMC - (111) - (155) - (121) - - -
Total 20 5,339 19 3,327 4 4,618 1,805 543 676
Surplus / (Deficit) for the year/period 1,547 35,282 996 21,582 165 24,771 88,448 28,605 42,604
Transfer from retained surplus - - - # - 3 - - -
Dividend distribution - - - (1) - (2) (14) (1,614) (411)
Dividend distribution tax on dividend distribution - - - # - (1) (6) (780) (201)
Surplus / (Deficit) transferred to the retained surplus 4 1,547 35,282 996 21,581 165 24,771 88,428 26,211 41,992

Cash Flow Statement

AXIS FIXED AXIS FIXED AXIS FIXED AXIS FIXED AXIS FIXED AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
AXIS FIXED TERM TERM PLAN - TERM PLAN -
TERM PLAN - TERM PLAN - TERM PLAN - PLAN – SERIES 92 PLAN - SERIES 93 PLAN - SERIES 94
PLAN - SERIES 52 SERIES 74 (1105 SERIES 74 (1105
SERIES 49 SERIES 49 SERIES 52 (154 DAYS) (91 DAYS) (177 DAYS)
Particulars DAYS) DAYS)
Net Surplus / (Deficit) for the year/period 1,547 35,282 996 21,582 165 24,771 88,448 28,605 42,604
Adjustments for:-
Change in provision for net unrealised loss in value of investments (30) (86) (19) (29) - (572) - - -
(Increase)/decrease in investments at cost 230,572 225,707 135,048 152,560 39,055 272,269 - - -
(Increase)/decrease in other current assets (2) 7,802 2,905 1,828 - 3,981 (14) - (3)
Increase/(Decrease) in current liabilities (8,283) 8,292 - 8 (39,057) 39,092 591 2,650 866
(Increase)/Decrease in deposits - - - - - - - - -
Net cash used in operations (A) 223,804 276,997 138,930 175,949 163 339,541 89,025 31,255 43,467

Increase/(Decrease) in unit capital - - - - - - 2,865,646 1,516,600 1,133,032
Dividend paid (including tax thereon) - - - (1) - (4) (20) (2,394) (612)
Net cash generated from financing activities (B) - - - (1) - (4) 2,865,626 1,514,206 1,132,420
Net increase/(decrease) in cash and cash equivalents (A+B) 223,804 276,997 138,930 175,948 163 339,537 2,954,651 1,545,461 1,175,887
452
Cash and Cash Equivalents as at the beginning of the year/period 314,112 37,115 190,089 14,141 379,841 40,304 - - -
Cash and cash equivalents as at the end of the year/period 537,916 314,112 329,019 190,089 380,004 379,841 2,954,651 1,545,461 1,175,887
Component of cash and cash equivalents April 17, 2018 March 31, 2018 April 18, 2018 March 31, 2018 April 3, 2018 March 31, 2018 September 27, 2018 September 11, 2018 December 13, 2018
Balances with banks in current accounts 56 42,994 58 27,469 27 61,941 364 138 58
Collateralised lending / Tri-Party Repo 537,860 271,118 328,961 162,620 379,977 317,900 2,954,287 1,545,323 1,175,829
Total 537,916 314,112 329,019 190,089 380,004 379,841 2,954,651 1,545,461 1,175,887
(0)

Schedules to the financial statements for the period ended as at reporting date
1. BACKGROUND
In accordance with the Securities and Exchange Board of India('SEBI') (MutualFunds) Regulations, 1996 ('the SEBI Regulations'), the Board of Directors of
NFO Close
Axis Fixed Term Plan - A Close ended debt scheme The Plan(s) of the Scheme will endeavour January 27, 2014 Growth
Series 49 to generate returns through a portfolio of to Dividend
debt & money market instruments that are January 30, 2014 Quarterly Dividend
maturing on or before the maturity of the Direct Growth
respective plan(s). Direct Dividend
Axis Fixed Term Plan - A Close ended debt scheme The Plan(s) of the Scheme will endeavour February 05, 2014 Growth
Series 52 to generate returns through a portfolio of to Dividend
debt & money market instruments that are February 11, 2014 Quarterly Dividend
respective plan(s). Direct Dividend
Axis Fixed Term Plan - A Close ended debt scheme The Plan(s) of the Scheme will endeavour March 18, 2015 Growth
Series 74 (1105 Days) to generate returns through a portfolio of to Dividend
debt & money market instruments that are March 23, 2015 Half year/periodly Dividend
respective plan(s). However, there is no Direct Dividend
assurance or guarantee that the Direct Half year/periodly
investment objective of the Scheme will Dividend
be achieved. The Scheme does not
assure or guarantee any returns.
Axis Fixed Term Plan – A Close ended debt scheme The Scheme will endeavour to generate April 25, 2018 Growth
Series 92 (154 Days) returns through a portfolio of debt & to Dividend
money market instruments that are April 26, 2018 Direct Growth
maturing on or before the maturity of the Direct Dividend
scheme. However, there is no assurance
or guarantee that the investment objective
of the Scheme will be achieved. The
Scheme does not assure or guarantee
any returns.
Axis Fixed Term Plan - A Close ended debt scheme The Scheme will endeavour to generate June 08, 2018 Growth
money market instruments that are June 12, 2018 Direct Growth
any returns.
Axis Fixed Term Plan - A Close ended debt scheme The Scheme will endeavour to generate June 14, 2018 Growth
money market instruments that are June 19, 2018 Direct Growth
any returns.
Presentation of these separate Balance sheets and Revenue accounts in a columnar form is not intendedto indicate that they bear any relation to each

453

The net asset value of the units are determined separately for the units issued under the options.
For reporting the net asset value within the portfolio, the Scheme's daily income earned, including realised profit or loss and unrealised gain or loss in the
value of investments, and expenses accrued, are allocated to the related options in proportion to their respective daily net assets arrived at by multiplying
day-end outstanding units by previous day's closing NAV.
(c) Investments
The cost of investments includes all costs incurred in acquiring the investments and incidental to acquisition of investments e.g. brokerage, transaction
costs, CCIL charges and any other charges customarily included in the broker’s note.
receivable and debited to 'Accrued Income Account’ and in case of sale, interest received for the period from the last interest due date upto the date of sale
is credited to ‘Accrued Income Account’.
as on the valuation date. Units of unlisted mutual fund schemes and units of listed mutual fund schemes which are not traded are valued at the NAV
published on AMFI website as on the valuation date.
Government securities (including State Development Loans) are valued at the average of the prices released by CRISIL and ICRA, as suggested by AMFI,
on the basis of the valuation principles laid down by SEBI.
schemes managed by the AMC. If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the
basis of amortized cost based on purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the
period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Valuation Agencies
(CRISIL and ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.
valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Valuation Agencies (CRISIL and ICRA). In case the
All debt securities with residual maturity greater than 60 days, are valued using the simple average of the prices released by CRISIL and ICRA, as
suggested by AMFI. In case of new purchases which are not a part of the list of CRISIL and ICRA security level pricing, such securities are valued at
weighted average cost/yield on the day of purchase.
The net unrealized appreciation/ depreciationin the value of investments is determined at portfolio level. The change in net unrealized gain / loss, between
two balance sheet dates is recognized in the revenue account and net unrealized gain, if any, is thereafter appropriated to the unrealized appreciation
reserve.

454
3. Unit Capital
Axis Fixed Term Plan - Series 49 Axis Fixed Term Plan - Series 49 Axis Fixed Term Plan - Series 52
April 17, 2018 March 31, 2018 April 18, 2018
Initial Capital 192,449,524.000 1,924,496 192,449,524.000 1,924,496 85,538,219.000 855,382
Growth
Issued
Dividend
Issued
-new fund offer - -
Outstanding, end of year/period 5,000.000 50 5,000.000 50 - -
Quarterly Dividend
Outstanding, beginning of year/period - - 1,500.000 15
Issued
-new fund offer - -
Outstanding, end of year/period - - - - 1,500.000 15

Issued
-new fund offer
Direct Growth
Issued
Direct Dividend
Outstanding, beginning of year/period - -
Issued
-new fund offer
-during the year/period - -
Outstanding, end of year/period - - - - - -
Total
Issued
455
Axis Fixed Term Plan - Series 74 (1105 Axis Fixed Term Plan - Series 74 (1105
Axis Fixed Term Plan - Series 52 Days) Days)
March 31, 2018 April 03, 2018 March 31, 2018
Initial Capital 85,538,219.000 855,382 29,930,019.000 299,300 29,930,019.000 299,300
Growth
Issued
-new fund offer - -
Dividend
Outstanding, beginning of year/period - - 311,500.000 3,115 311,500.000 3,115
Issued
-new fund offer - -
Outstanding, end of year/period - - 311,500.000 3,115 311,500.000 3,115
Quarterly Dividend
Outstanding, beginning of year/period 1,500.000 15 - -
Issued
-new fund offer
Outstanding, end of year/period 1,500.000 15 - - - -

Issued
-new fund offer - -
Direct Growth
Issued
-new fund offer - -
Direct Dividend
Outstanding, beginning of year/period - - 500.000 5 500.000 5
Issued
-new fund offer - -
Outstanding, end of year/period - - 500.000 5 500.000 5
Total
Issued
-new fund offer - -
456
AXIS FIXED TERM PLAN – SERIES 92 (154 AXIS FIXED TERM PLAN - SERIES 93 (91 AXIS FIXED TERM PLAN - SERIES 94 (177
DAYS) DAYS) DAYS)
September 27, 2018 September 11, 2018 December 13, 2018
Initial Capital 286,564,622.000 2,865,646 151,660,004.000 1,516,600 113,303,198.000 1,133,032
Growth
Issued
-new fund offer 13,804,342.000 138,043 21,663,501.000 216,635 82,871,282.000 828,713
Dividend
Outstanding, beginning of year/period - - - -
Issued
-new fund offer 65,001.000 650 7,720,500.000 77,205
Outstanding, end of year/period 65,001.000 650 7,720,500.000 77,205
Quarterly Dividend
Issued
-new fund offer

Issued
-new fund offer
Direct Growth
Issued
-new fund offer 272,694,279.000 2,726,943 117,258,200.000 1,172,582 28,794,416.000 287,944
Outstanding, end of year/period 272,694,279.000 2,726,943 117,258,200.000 1,172,582 28,794,416.000 287,944
Direct Dividend
Issued
-new fund offer 1,000.000 10 5,017,803.000 50,178 1,637,500.000 16,375
Outstanding, end of year/period 1,000.000 10 5,017,803.000 50,178 1,637,500.000 16,375
Total
Issued
-new fund offer 286,564,622.000 2,865,646 151,660,004.000 1,516,600 113,303,198.000 1,133,032
Outstanding, end of year/period 286,564,622.000 2,865,646 151,660,004.000 1,516,600 113,303,198.000 1,133,032
457
Rupees in '000
AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN AXIS FIXED TERM PLAN - AXIS FIXED TERM PLAN -
- SERIES 49 - SERIES 49 SERIES 52 - SERIES 52 SERIES 74 (1105 DAYS) SERIES 74 (1105 DAYS) – SERIES 92 (154 DAYS) SERIES 93 (91 DAYS) SERIES 94 (177 DAYS)
Retained surplus
Balance, beginning of year 152,461 117,179 93,161 71,580 80,529 55,761 - - -
Transferred to revenue account - - - # - (3) - - -
Surplus transferred from revenue account 1,547 35,282 996 21,581 165 24,771 88,428 26,211 41,992
Balance, end of year/period 154,008 152,461 94,157 93,161 80,694 80,529 88,428 26,211 41,992
Total reserves 154,008 152,461 94,157 93,161 80,694 80,529 88,428 26,211 41,992

as follows:
RG Growth 17,830 17,651 21,155 20,932 52,187 52,081 4,220 4,060 10,768
RD Dividend 19 19 - - 834 832 - - #
RQ Quarterly Dividend - - # - - - - -
RH Half year/periodly Dividend - - 6 6 - - -
ZG Direct Growth 136,159 134,791 73,002 72,229 27,666 27,609 84,208 22,151 31,224
ZD Direct Dividend - - - - 1 1 - - -
ZQ Direct Quarterly Dividend - - - - - - - -
154,008 152,461 94,157 93,161 80,694 80,529 88,428 26,211 41,992
Amount due to AMC
- Management fees 6 9 8 10 42 38 195 86 101
458
- Others - - - - - - - - -
Trusteeship fee payable - # # # # # 2 1 1
Audit fee payable 54 54 55 54 55 55 60 36 60
Registrar service fees payable 11 11 11 11 11 11 180 57 35
Dividend payable on units - - - # - - 15 1,615 411
Dividend distribution tax payable - - - - - - 6 780 201
Investment redemption proceeds received in advance 8,281 - 39,063
Commission to distributors payable - - - - - - - - 23
Custody fees payable - 3 1 2 2 2 - - 9
Investor education expense payable 6 10 4 6 8 6 44 10 8
Other current liabilities 21 13 14 10 13 13 89 65 17
98 8,381 93 93 131 39,188 591 2,650 866
6. INVESTMENTS
Listed debentures and bonds - 220,561 - 135,029 - 39,055 - - -
Treasury Bill - 9,981 - - - - - - -
INVESTMENTS - 230,542 - 135,029 - 39,055 - - -

- appreciation - - - - - - - - -
- depreciation - 30 - 19 - # - - -

(iii) The aggregate value of investments acquired and sold/redeemed during the year/period and these amounts as a percentage of average daily net assets are as follows:
and fixed deposits)
- amount - 397,024 - 223,656 - 506,519 3,524,262 1,906,120 1,121,465
- as a percentage of average daily net assets - 76.51% - 70.45% - 137.65% 121.12% 124.43% 97.15%
fixed deposits)
- amount 231,043 390,000 135,348 200,969 39,063 474,478 3,598,616 1,929,211 1,154,000
(iv) The aggregate purchases made by all schemes of the fund during the current year/period, previous year/period and the fair value of such investments as reporting date in companies which have invested in any scheme of the Fund in excess of five per cent of that scheme's net assets are provided
in Attachment 1.
Rupees in '000 Rupees in '000
(v) Aggregate fair value of non traded investments valued
in good faith - 220,561 - 135,029 - 39,055 - - -
459
Rupees in '000
Balances with banks in current accounts 56 42,994 58 27,469 27 61,941 364 138 58
Outstanding and accrued income - - - 2,905 - - - - -
Amount due from AMC 113 111 155 155 121 121 14 - 3
Collateralised lending / Tri-Party Repo 537,860 271,118 328,961 162,620 379,977 317,900 2,954,287 1,545,323 1,175,829
538,029 314,223 329,174 193,149 380,125 379,962 2,954,665 1,545,461 1,175,890
Rupees in '000
8. INTEREST
Money market instruments - 117 - - - 398 73,512 22,940 31,871

Debentures and bonds 563 37,101 367 22,993 8 22,507 11,615 4,765 9,666
Government securities (including treasury bills) 19 644 - 412 - 2,760 - - -
Collateralised lending / Tri-Party Repo 953 2,673 629 1,475 160 3,152 4,257 1,193 1,077
1,535 40,535 996 24,880 168 28,817 89,384 28,898 42,614
other schemes and fixed deposits including interest thereon as applicable. During the period ended on reporting date, the Schemes have paid management fee at annualised average rate as follows:
average rate 0.02% 0.02% 0.04% 0.04% 0.13% 0.13% 0.07% 0.04% 0.05%
The schemes pay fees for Trusteeship services under an agreement with the Trustee, aggregating Rs. 4,00,000/- per month (Rs. 3,00,000/- per month upto September 30, 2017) (excluding applicable tax) which is apportioned to all the schemes on the basis of their monthly average net assets. Trustee fees charged is
subject to the ceiling of 0.10% per annum on average net assets of all the schemes.
Rupees in '000
460
investments)
- amount 1,535 35,589 995 21,869 169 24,964 90,240 29,049 43,280

- amount 18 393 18 316 4 765 1,792 444 676


Axis Liquid Fund Axis Hybrid Fund - Series 6 (1324 Days)
Axis Treasury Advantage Fund Axis Hybrid Fund - Series 7 (1305 Days)
Axis Bluechip Fund Axis Fixed Term Plan - Series 64
Axis Long Term Equity Fund Axis Capital Protection Oriented Fund - Series 5
Axis Short Term Fund Axis Equity Advantage Fund - Series 1
Axis Regular Saver Fund Axis Nifty ETF
Axis Triple Advantage Fund Axis Corporate Debt Fund
Axis Gold ETF Axis Dynamic Equity Fund
Axis Midcap Fund Axis Equity Advantage Fund - Series 2
461
Axis Dynamic Bond Fund Axis Multicap Fund
Axis Gold Fund Axis Capital Builder Fund - Series 1 (1540 Days)
Axis Credit Risk Fund Axis Growth Opportunities Fund
Axis Equity Saver Fund Axis Capital Builder Fund - Series 4 (1582 Days)

Rupees in '000
AXIS FIXED TERM PLAN - SERIES 49 AXIS FIXED TERM PLAN - SERIES 52
Perod ended April year/period ended Balance as at Balance as at Period ended year/period ended Balance as at Balance as at
17, 2018 March 31, 2018 April 17, 2018 March 31, 2018 April 18, 2018 March 31, 2018 April 18, 2018 March 31, 2018
Name of Related Party Nature of transactions
Axis Mutual Fund Trustee Limited Fees for trusteeship services - 4 - # # 2 # #
Axis Asset Management Company Limited (including Service Tax/GST) 5 132 6 9 9 155 8 10
Axis Asset Management Company Limited Receivable for other expenses - - 113 111 - - 155 155
Rupees in '000
AXIS FIXED TERM PLAN – SERIES 92 AXIS FIXED TERM PLAN - SERIES
Axis Fixed Term Plan - Series 74 (1105 Days)
(154 DAYS) 93 (91 DAYS)
Period ended year/period ended Balance as at Balance as at September 27, Balance as at September 11, September 11,
Name of Related Party Nature of transactions April 03, 2018 March 31, 2018 April 03, 2018 March 31, 2018 2018 September 27, 2018 2018 2018
Axis Mutual Fund Trustee Limited Fees for trusteeship services # 3 # # 10 2 3 1
Axis Asset Management Company Limited (including Service Tax/GST) 4 557 42 37 1,063 195 185 86
Axis Asset Management Company Limited Receivable for other expenses - - 121 121 - 14 - -
Rupees in '000
(177 DAYS)
462
Name of Related Party Nature of transactions December 13, 2018 December 13, 2018
Axis Mutual Fund Trustee Limited Fees for trusteeship services 5 1
Axis Asset Management Company Limited Fees for investment management services 330 101
Axis Asset Management Company Limited Receivable for other expenses - 3
Rupees in '000
Name of sponsor, associates, employees or AXIS FIXED AXIS FIXED AXIS FIXED AXIS FIXED
their relatives of AMC (Nature of relation) AXIS FIXED TERM
AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM TERM PLAN - TERM PLAN - TERM PLAN – TERM PLAN -
PLAN - SERIES 93
PLAN - SERIES 49 PLAN - SERIES 49 PLAN - SERIES 52 PLAN - SERIES 52 SERIES 74 (1105 SERIES 74 (1105 SERIES 92 (154 SERIES 94
(91 DAYS)
Period ended Period ended
year/period ended year/period ended year/period ended Period ended
Perod ended April 17, Period ended Period ended September 27, December 13,
March 31, 2018 March 31, 2018 March 31, 2018 September 11, 2018
2018 April 18, 2018 April 03, 2018 2018 2018
Bank charges # # # # # # # # #
Commission paid on distribution of units - - - - - - - - #
# Amount less than Rs. 0.5 thousand - - -
F.Y. 2018-2019 - Nil
F.Y. 2017-2018 - Nil
12. Investments made during the year/period in the sponsor company and its group companies at cost
Rupees in '000
Name of sponsor company and its group AXIS FIXED AXIS FIXED AXIS FIXED AXIS FIXED
companies AXIS FIXED TERM
AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM TERM PLAN - TERM PLAN - TERM PLAN – TERM PLAN -
PLAN - SERIES 93
PLAN - SERIES 49 PLAN - SERIES 49 PLAN - SERIES 52 PLAN - SERIES 52 SERIES 74 (1105 SERIES 74 (1105 SERIES 92 (154 SERIES 94
(91 DAYS)
Period ended Period ended
Perod ended April 17, year/period ended Period ended year/period ended Period ended year/period ended Period ended
September 27, December 13,
2018 March 31, 2018 April 18, 2018 March 31, 2018 April 03, 2018 March 31, 2018 September 11, 2018
2018 2018
Axis Bank Limited *
Investment made by the Scheme - - - - - - - - -
Investment made by other schemes 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 19,656 19,656
Total investments 19,656 5,250,231 19,656 5,250,231 19,656 5,250,231 19,656 1,390,000 1,390,000

The schemes have not made any investments in derivative products during the period ended as at reporting date. (Previous year - Nil)
463
AXIS FIXED AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
TERM PLAN - PLAN - SERIES 74 PLAN - SERIES 74 PLAN – SERIES 92 PLAN - SERIES 93 PLAN - SERIES 94 (177
PLAN - SERIES 49 PLAN - SERIES 52 PLAN - SERIES 52
Options SERIES 49 (1105 DAYS) (1105 DAYS) (154 DAYS) (91 DAYS) DAYS)
Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10 Face Value Rs. 10
RG Growth 13.8445 13.8059 13.8710 13.8301 12.6776 12.6722 10.3057 10.1874 10.3739
RD Dividend 13.8369 13.7983 - - 12.6776 12.6722 10.0000 10.0000 10.0000
RQ Quarterly Dividend - - 10.0955 10.0658
RH Half year/periodly Dividend 11.1801 11.1753
ZG Direct Growth 14.0344 13.9939 14.0498 14.0069 12.7330 12.7274 10.3088 10.1889 10.3768
Direct Dividend - - - - 12.7463 12.7407 10.0000 10.0000 10.0000
The net asset value disclosed above represents the declared NAV as on balance sheet date.

Contingent liabilities as at reporting date : Nil (Previous year/period - Nil).

464
There were no transactions in credit default swaps for the period ended as at reporting date. (Previous year/period - Nil).

Rupees in '000
AXIS FIXED AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM AXIS FIXED TERM
TERM PLAN - PLAN - SERIES 74 PLAN - SERIES 74 PLAN – SERIES 92 PLAN - SERIES 93 PLAN - SERIES 94 (177
PLAN - SERIES 49 PLAN - SERIES 52 PLAN - SERIES 52
Particulars SERIES 49 (1105 DAYS) (1105 DAYS) (154 DAYS) (91 DAYS) DAYS)
Total Reserves
154,008 152,461 94,157 93,161 80,694 80,529 88,428 26,211 41,992
portfolio level - - - - - - - - -
154,008 152,461 94,157 93,161 80,694 80,529 88,428 26,211 41,992
In accordance with SEBI (Mutual Funds) Regulations, 1996 and guidelines issued thereunder, 0.02% p.a. of daily net assets, being part of total recurring expenses is set aside in each scheme for Investor Education and
Awareness Initiatives (IEAI). 50% of the amount so set aside towards IEAI has been transferred to AMFI and balance 50%, transferred to a separate bank account maintained for the purpose of IEAI on monthly basis and the
unspent amounts are deployed in CBLO (Collateralised Lending & Borrowing Obligation) / Treps (Tri-Party Repo).

Rupees in '000
Additions during the year/period* 175,535 145,896
Less : Utilisation during the year/period 82,853 26,669
Rupees in '000
465
2,179 20,290 3,108 329,751 1,584 11,526 2,124 199,425

Unclaimed dividend and redemption gets transferred from schemes to separate pool account and is maintained separately. This disclosure has been carried out in the financial statements for all the
schemes at pool level.
As these are the first financial statements of Axis Fixed Term Plan – Series 92 (154 Days), Axis Fixed Term Plan - Series 93 (91 Days) and Axis Fixed Term Plan - Series 94 (177 Days) since the date of launch, there are no prior period
comparatives.
The current period figures for Axis Fixed Term Plan - Series 49, Axis Fixed Term Plan - Series 52 and Axis Fixed Term Plan - Series 74 (1105 Days) are for a period of less than one year/period and hence are not comparable
Prior period figures have been reclassified and regrouped, wherever applicable, to conform to current year/period's presentation.

AXIS LIQUID FUND
24. SUPPLEMENTARY INVESTMENT PORTFOLIO INFORMATION AND INDUSTRY WISE CLASSIFICATION
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2019 are presented
below. The industry and company exposures are stated as a percentage of the Scheme’s net assets
Amount Percentage to Net Percentage to Investment

Industry and Company Particulars Quantity
(Rs. in 000s) Assets category
DEBENTURES AND BONDS

FINANCE 4,490 6,564,433 3.13 64.41
Cholamandalam Investment and Finance Company Limited* 1,380 1,382,429 0.66 13.57
Hinduja Leyland Finance Limited* 330 331,364 0.16 3.25
Housing Development Finance Corporation Limited* 230 2,300,566 1.09 22.57
Mahindra & Mahindra Financial Services Limited* 150 150,178 0.07 1.47
Power Finance Corporation Limited* 1,400 1,399,980 0.67 13.74
Tata Capital Financial Services Limited* 1,000 999,916 0.48 9.81
PESTICIDES 450 452,044 0.21 4.44

UPL Limited* 450 452,044 0.21 4.44
RETAILING 2,400 3,047,508 1.45 29.90

Aditya Birla Fashion and Retail Limited* 2,400 3,047,508 1.45 29.90
TELECOM - SERVICES 127 126,998 0.06 1.25

Reliance Jio Infocomm Limited* 127 126,998 0.06 1.25
TOTAL 7,467 10,190,983 4.85 100.00

FINANCE 1,000 500,388 0.24 100.00
Gruh Finance Limited* 1,000 500,388 0.24 100.00
TOTAL 1,000 500,388 0.24 100.00
BILLS REDISCOUNTING
BANKS 40,000,000 3,939,208 1.87 100.00
IndusInd Bank Limited* 40,000,000 3,939,208 1.87 100.00
TOTAL 40,000,000 3,939,208 1.87 100.00
CERTIFICATE OF DEPOSIT
BANKS 692,000 68,428,883 32.52 98.58
Bandhan Bank Limited* 17,500 1,721,713 0.82 2.48
Bank of Baroda* 43,500 4,311,894 2.05 6.21
ICICI Bank Limited* 77,500 7,662,985 3.64 11.06
IndusInd Bank Limited* 45,000 4,446,844 2.11 6.41
Kotak Mahindra Bank Limited* 20,000 1,971,454 0.94 2.84
Punjab National Bank* 52,500 5,187,193 2.47 7.47
RBL Bank Limited* 27,500 2,736,625 1.30 3.94
The South Indian Bank Limited* 50,000 4,952,214 2.35 7.13
Vijaya Bank* 55,000 5,417,343 2.58 7.80
Canara Bank* 57,500 5,684,018 2.70 8.19
The Federal Bank Limited* 50,000 4,951,830 2.35 7.13
IDFC First Bank Limited* 56,000 5,537,304 2.63 7.98
Andhra Bank* 57,500 5,680,707 2.70 8.18
Indian Bank* 82,500 8,166,759 3.88 11.76
FINANCE 10,000 987,749 0.47 1.42

Small Industries Dev Bank of India* 10,000 987,749 0.47 1.42
TOTAL 702,000 69,416,632 32.99 100.00
COMMERCIAL PAPER
AUTO ANCILLARIES 1,000 496,289 0.24 0.32
CEAT Limited* 1,000 496,289 0.24 0.32
CONSUMER NON DURABLES 1,000 494,682 0.24 0.32

Godrej Industries Limited* 1,000 494,682 0.24 0.32
FERROUS METALS 9,700 4,800,487 2.29 3.12

JSW Steel Limited* 3,500 1,735,653 0.83 1.13
Steel Authority of India Limited* 6,200 3,064,834 1.46 1.99
466
AXIS LIQUID FUND (Contd.)

FINANCE 188,200 93,115,867 44.31 60.58

Aditya Birla Finance Limited* 500 248,570 0.12 0.16
Bajaj Finance Limited* 4,000 1,973,228 0.94 1.28
Daimler Financial Services India Pvt Limited* 9,800 4,850,652 2.31 3.16
Export Import Bank of India* 19,800 9,749,787 4.64 6.34
Hinduja Leyland Finance Limited* 4,000 1,976,580 0.94 1.29
Housing Development Finance Corporation Limited* 24,600 12,168,674 5.79 7.92
ICICI Home Finance Company Limited* 6,000 2,965,210 1.41 1.93
India Infoline Finance Limited* 6,200 3,084,689 1.47 2.01
Indian Railway Finance Corporation Limited* 3,500 1,741,740 0.83 1.13
JM Financial Products Limited* 2,000 983,647 0.47 0.64
JM Financial Services Limited* 2,500 1,230,422 0.59 0.80
L&T Housing Finance* 3,900 1,932,378 0.92 1.26
L&T Finance Limited* 4,000 1,988,320 0.95 1.29
LIC Housing Finance Limited* 2,500 1,237,882 0.59 0.81
Magma Fincorp Limited* 4,000 1,968,236 0.94 1.28
Mahindra Rural Housing Finance* 4,000 1,974,208 0.94 1.28
Muthoot Finance Limited* 7,900 3,914,238 1.86 2.55
National Bank For Agriculture and Rural Development* 28,700 14,189,644 6.74 9.23
Small Industries Dev Bank of India* 3,100 1,534,899 0.73 1.00
Sundaram BNP Paribas Home Finance Limited* 2,000 990,028 0.47 0.64
Tata Capital Financial Services Limited* 8,000 3,945,148 1.88 2.57
Tata Motors Finance Limited* 4,100 2,026,570 0.96 1.32
TGS Investment & Trade Pvt Limited* 3,500 1,741,043 0.83 1.13
Trapti Trading & Invest Pvt Limited* 5,000 2,495,883 1.19 1.62
Turquoise Invest & Finance Pvt Limited* 1,000 492,953 0.23 0.32
Bajaj Housing Finance Limited* 8,000 3,990,054 1.90 2.60
Aditya Birla Capital Limited* 2,500 1,236,269 0.59 0.80
HDFC Credila Financial Services Pvt Limited* 3,000 1,488,367 0.71 0.97
HSBC InvestDirect Financial Services (India) Limited* 1,000 491,450 0.23 0.32
SBI Cards & Payment Services Pvt Limited* 2,000 986,480 0.47 0.64
INDUSTRIAL CAPITAL GOODS 2,000 988,746 0.47 0.64

Tata Power Solar Systems Limited* 2,000 988,746 0.47 0.64
MEDIA & ENTERTAINMENT 3,000 1,477,415 0.70 0.96

Network18 Media & Investments Limited* 3,000 1,477,415 0.70 0.96
NON - FERROUS METALS 5,300 2,629,955 1.25 1.71

Vedanta Limited* 5,300 2,629,955 1.25 1.71
PESTICIDES 2,000 991,559 0.47 0.65

UPL Limited* 2,000 991,559 0.47 0.65
PETROLEUM PRODUCTS 16,200 7,994,141 3.79 5.20

Reliance Industries Limited* 6,200 3,067,320 1.46 2.00
Indian Oil Corporation Limited* 10,000 4,926,821 2.33 3.20
POWER 43,200 21,389,281 10.17 13.92

Adani Transmission Limited* 2,500 1,245,610 0.59 0.81
Power Grid Corporation of India Limited* 9,600 4,760,567 2.25 3.09
Talwandi Sabo Power Limited* 3,000 1,483,385 0.71 0.97
Tata Power Company Limited* 9,300 4,620,800 2.20 3.01
NTPC Limited* 6,800 3,359,020 1.60 2.19
CESC Limited* 8,000 3,952,214 1.88 2.57
Nabha Power Limited* 4,000 1,967,685 0.94 1.28
RETAILING 22,100 10,888,696 5.18 7.08

Aditya Birla Fashion and Retail Limited* 2,100 1,035,136 0.49 0.67
Reliance Retail Limited* 20,000 9,853,560 4.69 6.41
467
AXIS LIQUID FUND (Contd.)

TELECOM - SERVICES 13,000 6,448,644 3.06 4.20

Bharti Airtel Limited* 5,000 2,488,580 1.18 1.62
Indus Towers Limited* 8,000 3,960,064 1.88 2.58
TRADING 2,000 994,100 0.47 0.65

T V Sundram Iyengar & Sons Pvt Limited* 2,000 994,100 0.47 0.65
TRANSPORTATION 2,000 996,363 0.47 0.65

Adani Ports and Special Economic Zone Limited* 2,000 996,363 0.47 0.65
TOTAL 310,700 153,706,225 73.11 100.00
TREASURY BILL 66,745,800 6,612,268 3.14 100.00

91 Days Tbill (MD 18/04/2019) 22,324,000 2,225,874 1.06 33.67
91 Days Tbill (MD 30/05/2019) 10,000,000 990,159 0.47 14.97
91 Days Tbill (MD 02/05/2019) 500,000 49,727 0.02 0.75
91 Days Tbill (MD 21/06/2019) 33,921,800 3,346,508 1.59 50.61
TOTAL 66,745,800 6,612,268 3.14 100.00
OTHER CURRENT ASSETS 2,504,483 1.19
TOTAL ASSETS 246,870,187 117.39
LESS: CURRENT LIABILITIES 36,574,092 17.39
NET ASSETS 210,296,095 100.00
* Non traded / thinly traded investments
468
AXIS TREASURY ADVANTAGE FUND
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2019 are
presented below. The industry and company exposures are stated as a percentage of the Scheme’s net assets
Percentage to
Amount Percentage to Net
Industry and Company Particulars Quantity Investment
(Rs. in 000s) Assets
category

BANKS 40 39,938 0.30 0.43
IDFC First Bank Limited* 40 39,938 0.30 0.43
FINANCE 247,568 8,205,831 61.07 87.79

Bajaj Finance Limited* 400 408,116 3.04 4.37
Dewan Housing Finance Corporation Limited* 630 1,039,079 7.73 11.12
Export Import Bank of India* 100 101,339 0.75 1.08
Hero Fincorp Limited* 250 246,785 1.84 2.64
Housing Development Finance Corporation Limited 200 201,993 1.50 2.16
Housing Development Finance Corporation Limited* 25 250,047 1.86 2.68
ICICI Home Finance Company Limited* 500 245,947 1.83 2.63
Indiabulls Housing Finance Limited* 320 319,215 2.38 3.42
Indian Railway Finance Corporation Limited* 20 20,027 0.15 0.21
LIC Housing Finance Limited* 250 250,692 1.87 2.68
Muthoot Finance Limited* 240,000 236,910 1.76 2.53
National Bank For Agriculture and Rural Development* 950 956,638 7.12 10.23
Shriram Transport Finance Company Limited* 300 296,127 2.20 3.17
Small Industries Dev Bank of India* 500 500,189 3.72 5.35
REC Limited* 235 241,229 1.80 2.58
Piramal Capital & Housing Finance Limited* 600 598,550 4.46 6.40
National Housing Bank* 500 502,933 3.74 5.38
Citicorp Finance India Limited* 250 250,344 1.86 2.68
National Bank For Agriculture and Rural Development 250 256,722 1.91 2.75
Small Industries Dev Bank of India 9 9,285 0.07 0.10
PETROLEUM PRODUCTS 250 252,466 1.88 2.70

Reliance Industries Limited 250 252,466 1.88 2.70
POWER 40 50,340 0.37 0.54

Power Grid Corporation of India Limited* 40 50,340 0.37 0.54

TRADING 250 249,556 1.86 2.67

Edelweiss Commodities Services Limited* 250 249,556 1.86 2.67

FINANCE 250 297,788 2.22 3.18
TMF Holdings Limited* 250 297,788 2.22 3.18
TOTAL 248,648 9,347,245 69.57 100.00
BANKS 25,000 2,340,961 17.42 80.52
ICICI Bank Limited* 10,000 940,842 7.00 32.36
IndusInd Bank Limited* 7,500 701,006 5.22 24.11
Punjab National Bank* 7,500 699,113 5.20 24.05
FINANCE 6,000 566,156 4.21 19.48

TOTAL 31,000 2,907,117 21.63 100.00
469
AXIS TREASURY ADVANTAGE FUND (Contd.)
Percentage to
Amount Percentage to Net
(Rs. in 000s) Assets
category
COMMERCIAL PAPER
FINANCE 500 233,795 1.74 100.00
REC Limited* 500 233,795 1.74 100.00
TOTAL 500 233,795 1.74 100.00
TOTAL ASSETS 13,552,915 100.87
LESS: CURRENT LIABILITIES 117,905 0.87
NET ASSETS 13,435,010 100.00
470
AXIS BANKING & PSU DEBT FUND
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2019
are presented below. The industry and company exposures are stated as a percentage of the Scheme’s net assets
Percentage to
Amount Percentage to
(Rs. in '000) Net Assets
category

BANKS 2,900 2,986,708 6.52 7.64
Bank of Baroda* 950 962,230 2.10 2.46
State Bank of India* 1,950 2,024,478 4.42 5.18
CONSTRUCTION 3,825 3,813,177 8.32 9.76

National Highways Authority of India* 3,825 3,813,177 8.32 9.76
CONSUMER NON DURABLES 2,228 2,372,547 5.18 6.07

Food Corporation Of India* 2,228 2,372,547 5.18 6.07
FINANCE 20,706.00 21,000,911.00 45.86 53.74

Export Import Bank of India* 2,700 2,814,866 6.15 7.20
Indian Railway Finance Corporation Limited* 1,005 1,007,028 2.20 2.58
LIC Housing Finance Limited 966 1,007,254 2.20 2.58
Small Industries Dev Bank of India* 1,504 1,534,007 3.35 3.92
REC Limited* 1,679 1,682,984 3.67 4.31
National Bank For Agriculture and Rural Development 4,708 4,829,819 10.54 12.36
Small Industries Dev Bank of India 2,125 2,192,405 4.79 5.61
REC Limited 570 558,711 1.22 1.43
PETROLEUM PRODUCTS 3,900.00 3,813,789.00 8.33 9.75

Reliance Industries Limited 2,300 2,251,733 4.92 5.76
Reliance Industries Limited* 1,350 1,310,924 2.86 3.35
Bharat Petroleum Corporation Limited* 250 251,132 0.55 0.64
POWER 6,063.00 4,327,389.00 9.45 11.06

NHPC Limited* 2,750 809,852 1.77 2.07
Power Grid Corporation of India Limited* 2,763 2,959,461 6.46 7.57
NTPC Limited* 350 364,928 0.80 0.93
Jamnagar Utilities & Power Private Limited* 200 193,148 0.42 0.49

FINANCE 779 772,901 1.69 1.98
Tata Sons Private Limited* 779 772,901 1.69 1.98
TOTAL 40,401 39,087,422 85.35 100.00
GOVERNMENT SECURITIES 11,600,000 1,186,863 2.59 100.00

8.39% Rajasthan UDAY Bond (MD 15/03/2022) 2,700,000 276,035 0.60 23.26
8.21% Haryana UDAY Bond (MD 31/03/2022) 3,900,000 396,945 0.87 33.44
8.38% Karnataka SDL (MD 31/10/2022) 5,000,000 513,883 1.12 43.30
TOTAL 11,600,000 1,186,863 2.59 100.00
TOTAL ASSETS 45,888,516 100.20
NET ASSETS 45,805,423 100.00
471
AXIS SHORT TERM FUND
Percentage to
category

BANKS 1,520 1,525,235 5.00 6.62

HDFC Bank Limited* 550 553,040 1.81 2.40
State Bank of India* 620 622,597 2.04 2.70
CHEMICALS 180 178,271 0.58 0.77

Nirma Limited* 180 178,271 0.58 0.77
CONSUMER NON DURABLES 500 501,606 1.64 2.18

Zydus Wellness Limited* 500 501,606 1.64 2.18
FINANCE 1,183,652 14,166,269 46.41 61.51

Axis Finance Limited* 10 13,022 0.04 0.06
Dewan Housing Finance Corporation Limited* 141,824 842,905 2.76 3.66
HDB Financial Services Limited* 145 146,161 0.48 0.63
Housing Development Finance Corporation Limited* 1,030 1,055,416 3.46 4.58
Indiabulls Housing Finance Limited* 360,250 608,248 1.99 2.64
L&T Housing Finance* 200 495,612 1.62 2.15
L&T Infrastructure Finance Company Limited* 60 149,960 0.49 0.65
Mahindra Rural Housing Finance* 250 249,722 0.82 1.08
Shriram Transport Finance Company Limited* 420,000 409,701 1.34 1.78
Tata Capital Financial Services Limited* 250 248,503 0.81 1.08
REC Limited* 976 984,318 3.23 4.27
Kotak Mahindra Prime Limited* 159 130,669 0.43 0.57
REC Limited 1,710 1,725,056 5.65 7.49
Power Finance Corporation Limited 250 254,536 0.83 1.11
PETROLEUM PRODUCTS 1,200 1,209,558 3.96 5.25

Reliance Industries Limited 1,200 1,209,558 3.96 5.25
POWER 2,703 2,673,588 8.77 11.61

Adani Transmission Limited* 150 150,005 0.49 0.65
Bhopal Dhule Transmission Company Limited* 73 71,306 0.23 0.31
NHPC Limited* 30 29,783 0.10 0.13
Tata Power Company Limited* 250 241,504 0.79 1.05
NRSS XXIX Transmission Limited* 1,150 1,153,450 3.78 5.01
NHPC Limited 250 252,132 0.83 1.09
TELECOM - SERVICES 1,140 1,140,411 3.74 4.95

Bharti Airtel Limited* 50 49,037 0.16 0.21
Reliance Jio Infocomm Limited* 1,090 1,091,374 3.58 4.74
472
AXIS SHORT TERM FUND (Contd.)
Percentage to
category
TRANSPORTATION 190 196,101 0.64 0.85

Sikka Ports and Terminals Limited* 190 196,101 0.64 0.85

FINANCE 1,850 1,441,241 4.73 6.26
Gruh Finance Limited* 800 395,438 1.30 1.72
Tata Sons Private Limited* 1,050 1,045,803 3.43 4.54
TOTAL 1,192,935 23,032,280 75.47 100.00
BANKS 12,500 1,176,911 3.85 62.45
IndusInd Bank Limited* 5,000 467,036 1.53 24.78
FINANCE 7,500 707,695 2.32 37.55

TOTAL 20,000 1,884,606 6.17 100.00
COMMERCIAL PAPER
FINANCE 1,700 823,035 2.70 100.00
Dewan Housing Finance Corporation Limited* 500 244,016 0.80 29.65
REC Limited* 500 233,795 0.77 28.41
TOTAL 1,700 823,035 2.70 100.00
SECURITISED DEBT
RETAILING 1,220 1,214,780 3.98 100.00
Rent-A-Device Trust* 580 580,705 1.90 47.80
Rainbow Devices Trust* 640 634,075 2.08 52.20
TOTAL 1,220 1,214,780 3.98 100.00

9.20% Government of India (MD 30/09/2030) 500,000 56,067 0.18 2.34
7.68% Government of India (MD 15/12/2023) 1,019,200 104,928 0.34 4.39
7.59% Government of India (MD 20/03/2029) 10,800 1,083 # 0.05
7.59% Government of India(MD 11/01/2026) 955,600 97,042 # 4.05
7.37% Government of India (MD 16/04/2023) 11,400 1,161 # 0.05
473
AXIS SHORT TERM FUND (Contd.)
Percentage to
category

8.15% Rajasthan UDAY Bond (MD 23/06/2021) 289,000 29,354 0.10 1.23
8.21% Haryana UDAY Bond (MD 31/03/2022) 100,000 10,178 0.03 0.43
6.92% Maharashtra SDL(MD 11/01/2022) 197,300 19,546 0.06 0.82
8.61% Uttar Pradesh Uday Bond (MD 21/03/2022) 28,000 2,879 0.01 0.12
8.08% Gujarat SDL (MD 26/12/2028) 2,500,000 250,914 0.82 10.48
8.28% Gujarat SDL (MD 20/02/2029) 2,500,000 254,223 0.83 10.62
8.35% Gujarat SDL (MD 06/03/2029) 1,000,000 102,172 0.33 4.27
8.66% Tamilnadu SDL (MD 25/01/2022) 316,100 32,608 0.11 1.36
TOTAL 23,699,700 2,393,934 7.84 100.00
TREASURY BILL 1,378,200 134,823 0.44 100.00

364 Days Tbill (MD 08/08/2019) 1,378,200 134,823 0.44 100.00
TOTAL 1,378,200 134,823 0.44 100.00
TOTAL ASSETS 31,304,957 102.57
NET ASSETS 30,515,708 100.00

# Percentage less than 0.01
Investments made in futures have been disclosed in Attachment 3
474
AXIS STRATEGIC BOND FUND
Percentage to
category

AUTO ANCILLARIES 120 119,472 0.96 1.10
Subros Limited* 120 119,472 0.96 1.10
BANKS 1,300 1,275,170 10.28 11.75

Bank of Baroda* 230 225,738 1.82 2.08
ICICI Bank Limited* 200 197,719 1.59 1.82
Punjab National Bank* 240 231,029 1.86 2.13
Syndicate Bank* 180 177,126 1.43 1.63
Union Bank of India* 230 222,005 1.79 2.05
Vijaya Bank* 220 221,553 1.79 2.04
CEMENT 470 469,021 3.77 4.32

Dalmia Cement (Bharat) Limited* 150 148,021 1.19 1.36
Hansdeep Industries & Trading Company Limited* 70 71,226 0.57 0.66
JK Lakshmi Cement Limited* 250 249,774 2.01 2.30
CONSTRUCTION 3,862 1,165,172 9.40 10.74

National Highways Authority of India* 312 318,383 2.57 2.93
Oriental Nagpur Betul Highway Limited* 3,000 290,501 2.34 2.68
National Highways Authority of India 550 556,288 4.49 5.13
FINANCE 946,115 3,267,894 26.37 30.10

ECL Finance Limited* 50 49,250 0.40 0.45
Ess Kay Fincorp Limited* 100 41,667 0.34 0.38
IndoStar Capital Finance Limited* 50 317,481 2.56 2.93
JM Financial Products Limited* 220 217,948 1.76 2.01
Power Finance Corporation Limited* 25 26,073 0.21 0.24
REC Limited* 40 40,561 0.33 0.37
Northern Arc Capital Limited* 200 199,505 1.61 1.84
Asirvad Microfinance Limited* 20 15,049 0.12 0.14
IIFL Home Finance Limited* 100 104,495 0.84 0.96
REC Limited 200 205,319 1.66 1.89
Indian Railway Finance Corporation Limited 500 505,206 4.08 4.65
MEDIA & ENTERTAINMENT 400 396,980 3.20 3.66

PVR Limited* 400 396,980 3.20 3.66
NON - FERROUS METALS 142 140,347 1.14 1.29

Hindalco Industries Limited* 20 20,465 0.17 0.19
Vedanta Limited* 122 119,882 0.97 1.10

PHARMACEUTICALS 350 351,201 2.83 3.24

Jubilant Life Sciences Limited* 350 351,201 2.83 3.24
475
AXIS STRATEGIC BOND FUND (Contd.)
Percentage to
category
POWER 1,255 1,259,386 10.16 11.61

Power Grid Corporation of India Limited 250 254,280 2.05 2.34
Talwandi Sabo Power Limited* 165 162,376 1.31 1.50
Renew Power Limited* 370 369,994 2.98 3.41
Coastal Gujarat Power Limited* 350 350,312 2.83 3.23

TRADING 65 63,260 0.51 0.58

TRANSPORTATION 83 85,665 0.69 0.79

Sikka Ports and Terminals Limited* 83 85,665 0.69 0.79

COMMERCIAL SERVICES 150 150,124 1.21 1.38
Aasan Corporate Solutions Private Limited* 150 150,124 1.21 1.38
CONSTRUCTION 250 255,013 2.06 2.35

Raj Infraproperties Private Limited* 250 255,013 2.06 2.35
FINANCE 190 182,292 1.47 1.67

IKF Finance Limited* 70 62,398 0.50 0.57
POWER 100 96,258 0.78 0.89

Narmada Wind Energy Private Limited* 100 96,258 0.78 0.89
SERVICES 250 263,343 2.12 2.43

JSW Techno Projects Management Limited* 250 263,343 2.12 2.43

Vodafone Mobile Services Limited* 120 118,995 0.96 1.10
SECURITISED DEBT
CONSTRUCTION 370 114,936 0.93 1.06
IIERT TRUST* 370 114,936 0.93 1.06
FINANCE 665,733,745 203,361 1.64 1.87

Solstice Trust* 365,733,745 51,151 0.41 0.47
Zenith Trust* 300,000,000 152,210 1.23 1.40
RETAILING 221 221,484 1.79 2.04

RETAIL 45 86,773 0.70 0.80

MFL Securitisation Trust* 45 86,773 0.70 0.80
TOTAL 666,690,175 10,853,148 87.55 100.00
476
AXIS STRATEGIC BOND FUND (Contd.)
Percentage to
category

8.15% Government of India (MD 24/11/2026) 9,400 982 0.01 0.09
7.59% Government of India (MD 20/03/2029) 4,000 401 # 0.04
8.08% Maharashtra SDL (MD 26/12/2028) 5,000,000 501,751 4.05 46.65
8.08% Gujarat SDL (MD 26/12/2028) 600,000 60,218 0.49 5.60
8.16% Gujarat SDL (MD 30/01/2029) 63,600 6,416 0.05 0.60
8.35% Gujarat SDL (MD 06/03/2029) 1,500,000 153,258 1.24 14.25
8.06% Karnataka SDL (MD 27/03/2029) 500,000 50,080 0.40 4.66
TOTAL 10,669,000 1,075,674 8.67 100.00
OTHER CURRENT ASSETS 583,558 4.71
TOTAL ASSETS 12,512,380 100.93
NET ASSETS 12,397,222 100.00

477
AXIS DYNAMIC BOND FUND
Percentage to
category

BANKS 300 290,784 22.41 35.06
Syndicate Bank* 80 78,723 6.07 9.49
CONSTRUCTION 88 89,800 6.92 10.83

FINANCE 195 181,551 13.99 21.90

REC Limited* 90 90,995 7.01 10.97
India Infrastructure Fin Co Limited 25 26,847 2.07 3.24
POWER 90 91,275 7.03 11.01


SECURITISED DEBT
CONSTRUCTION 130 40,383 3.11 4.87
IIERT Trust* 130 40,383 3.11 4.87
FINANCE 91,828,039 28,215 2.18 3.40

Solstice Trust* 50,000,000 6,993 0.54 0.84
Zenith Trust* 41,828,039 21,222 1.64 2.56
TOTAL 91,828,952 829,253 63.91 100.00
GOVERNMENT SECURITIES 3,848,200 389,482 30.01 100.00

8.18% Tamilnadu SDL (MD 19/12/2028) 1,000,000 100,890 7.77 25.90
8.08% Gujarat SDL (MD 26/12/2028) 900,000 90,329 6.96 23.20
8.35% Gujarat SDL (MD 06/03/2029) 1,000,000 102,172 7.87 26.23
8.05% Gujarat SDL (MD 27/03/2029) 500,000 50,077 3.86 12.86
TOTAL 3,848,200 389,482 30.01 100.00
TOTAL ASSETS 1,299,496 100.14
NET ASSETS 1,297,478 100.00

478
AXIS OVERNIGHT FUND
Percentage to
category
TOTAL ASSETS 2,270,683 100.05
NET ASSETS 2,269,465 100.00
479
AXIS REGULAR SAVER FUND
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31,
2019 are presented below. The industry and company exposures are stated as a percentage of the Scheme’s net assets
Percentage to
(Rs.in '000) Net Assets
category

CONSTRUCTION 100 99,343 3.65 5.40
FINANCE 300,855 1,149,161 42.23 62.51

Magma Fincorp Limited* 50 49,816 1.83 2.71
REC Limited* 100 99,007 3.64 5.39
POWER 310 310,006 11.39 16.86


TRANSPORTATION 24,000 242 0.01 0.01

Blue Dart Express Limited* 24,000 242 0.01 0.01
TOTAL 325,545 1,838,526 67.56 100.00
FINANCE 1,500 140,986 5.18 100.00
National Bank For Agriculture and Rural Development* 1,500 140,986 5.18 100.00
TOTAL 1,500 140,986 5.18 100.00
COMMERCIAL PAPER
FINANCE 200 98,858 3.63 100.00
TOTAL 200 98,858 3.63 100.00
EQUITY SHARES
AUTO 2,470 16,481 0.61 3.13
Maruti Suzuki India Limited 2,470 16,481 0.61 3.13

Endurance Technologies Limited 13,466 15,632 0.57 2.97
Motherson Sumi Systems Limited 58,661 8,782 0.32 1.67
Varroc Engineering Limited 18,468 10,693 0.39 2.03
BANKS 115,089 111,808 4.11 21.21

HDFC Bank Limited 19,000 44,059 1.62 8.36
ICICI Bank Limited 64,756 25,935 0.95 4.92
Kotak Mahindra Bank Limited 31,333 41,814 1.54 7.93
CHEMICALS 9,243 11,519 0.42 2.19

Pidilite Industries Limited 9,243 11,519 0.42 2.19
CONSTRUCTION PROJECT 9,550 13,230 0.49 2.51

Larsen & Toubro Limited 9,550 13,230 0.49 2.51
480
AXIS REGULAR SAVER FUND (Contd.)
Percentage to
category
CONSUMER DURABLES 12,451 14,217 0.52 2.70

Titan Company Limited 12,451 14,217 0.52 2.70

Hindustan Unilever Limited 6,270 10,702 0.39 2.03
ITC Limited 36,765 10,927 0.40 2.07
Asian Paints Limited 7,125 10,635 0.39 2.02
FINANCE 125,336 125,224 4.60 23.72

Bajaj Finance Limited 11,542 34,914 1.28 6.62
Cholamandalam Investment and Finance Company Limited 5,700 8,279 0.30 1.57
Gruh Finance Limited 52,250 14,411 0.53 2.73
Housing Development Finance Corporation Limited 13,300 26,178 0.96 4.96
Mahindra & Mahindra Financial Services Limited 19,712 8,303 0.31 1.58
Bajaj Finserv Limited 2,363 16,629 0.61 3.14
Multi Commodity Exchange of India Limited 20,469 16,510 0.61 3.12
INDUSTRIAL PRODUCTS 27,240 25,250 0.93 4.79

Astral Poly Technik Limited 11,850 13,769 0.51 2.61
Cummins India Limited 15,390 11,481 0.42 2.18
PESTICIDES 15,887 16,395 0.60 3.11

PI Industries Limited 15,887 16,395 0.60 3.11
RETAILING 11,314 16,644 0.61 3.16

Avenue Supermarts Limited 11,314 16,644 0.61 3.16
SOFTWARE 55,753 67,585 2.49 12.83

Infosys Limited 33,856 25,183 0.93 4.78
Tata Consultancy Services Limited 12,920 25,861 0.95 4.91
Info Edge (India) Limited 8,977 16,541 0.61 3.14
TEXTILE PRODUCTS 12,653 10,382 0.38 1.97

TCNS Clothing Co. Limited 12,653 10,382 0.38 1.97
TRANSPORTATION 40,677 31,030 1.14 5.89

Blue Dart Express Limited 3,149 11,317 0.42 2.15
Container Corporation of India Limited 37,528 19,713 0.72 3.74
TOTAL 578,418 527,136 19.36 100.00
TOTAL ASSETS 2,729,455 100.28
NET ASSETS 2,721,749 100.00

481
AXIS GILT FUND
Percentage to
category

8.18% Haryana UDAY Bond (MD 15/06/2024) 500,000 50,600 14.07 14.37
8.18% Tamilnadu SDL (MD 19/12/2028) 1,000,000 100,890 28.06 28.65
8.08% Maharashtra SDL (MD 26/12/2028) 500,000 50,175 13.95 14.25
8.37% Tamilnadu SDL (MD 06/03/2029) 500,000 51,092 14.21 14.51
TOTAL 3,500,000 352,147 97.93 100.00
TOTAL ASSETS 359,929 100.09
LESS: CURRENT LIABILITIES 356 0.09
NET ASSETS 359,573 100.00
482
AXIS GOLD FUND
Percentage to
category
MUTUAL FUND UNITS 164,000 455,731 99.30 100.00

Axis Gold ETF 164,000 455,731 99.30 100.00
TOTAL 164,000 455,731 99.30 100.00
NET ASSETS 458,945 100.00
483
AXIS CREDIT RISK FUND
Percentage to
category

AUTO ANCILLARIES 80 79,648 0.48 0.52
Subros Limited* 80 79,648 0.48 0.52
BANKS 803 782,737 4.76 5.09

Bank of Baroda* 300 293,155 1.78 1.90
Syndicate Bank* 150 147,605 0.90 0.96
Vijaya Bank* 30 30,212 0.18 0.20
CEMENT 1,720 1,717,546 10.46 11.15

Birla Corporation Limited* 440 440,521 2.68 2.86
Dalmia Cement (Bharat) Limited* 550 546,982 3.33 3.55
Hansdeep Industries & Trading Company Limited* 230 231,485 1.41 1.50
JK Lakshmi Cement Limited* 350 349,684 2.13 2.27
Nuvoco Vistas Corporation Limited* 150 148,874 0.91 0.97
CHEMICALS 70 69,327 0.42 0.45

Nirma Limited* 70 69,327 0.42 0.45
CONSTRUCTION 2,992 292,509 1.78 1.90


Food Corporation Of India* 1 1,065 0.01 0.01
Zydus Wellness Limited* 250 250,577 1.52 1.63
FINANCE 1,109,569 3,680,134 22.39 23.89

ECL Finance Limited* 350 344,748 2.10 2.24
REC Limited* 10 9,901 0.06 0.06
MEDIA & ENTERTAINMENT 650 641,464 3.90 4.17

PVR Limited* 650 641,464 3.90 4.17

Vedanta Limited* 10 9,826 0.06 0.06
484
AXIS CREDIT RISK FUND (Contd.)
Percentage to
category

Piramal Enterprises Limited* 150 149,659 0.91 0.97
Jubilant Life Sciences Limited* 250 252,009 1.53 1.64
POWER 2,542 2,536,259 15.42 16.46

Coastal Gujarat Power Limited* 450 450,401 2.74 2.92

TRADING 440 439,386 2.67 2.85


FINANCE 530 500,479 3.05 3.25

Bahadur Chand Investments Pvt Limited* 250 250,888 1.53 1.63
IKF Finance Limited* 280 249,591 1.52 1.62
POWER 400 385,030 2.34 2.50

Narmada Wind Energy Private Limited* 400 385,030 2.34 2.50
SERVICES 855 891,729 5.42 5.79

Indian Hospitals Corporation Limited* 455 470,380 2.86 3.05

SECURITISED DEBT
CONSTRUCTION 600 186,383 1.13 1.21
IIERT Trust* 600 186,383 1.13 1.21
FINANCE 1,300,000,000 439,072 2.67 2.85

Solstice Trust* 600,000,000 83,916 0.51 0.54
Zenith Trust* 700,000,000 355,156 2.16 2.31
RETAILING 233 233,344 1.42 1.52

RETAIL 576 576,631 3.51 3.74
TRANSPORTATION 22 592,761 3.60 3.85

Sansar Trust* 22 592,761 3.60 3.85
TOTAL 1,301,123,443 15,401,074 93.67 100.00
485
AXIS CREDIT RISK FUND (Contd.)
Percentage to
category

7.59% Government of India(MD 11/01/2026) 6,100 619 # 0.09
8.08% Gujarat SDL (MD 26/12/2028) 3,000,000 301,097 1.83 45.50
8.16% Karnataka SDL (MD 20/03/2029) 1,000,000 100,833 0.61 15.24
8.06% Karnataka SDL (MD 27/03/2029) 1,000,000 100,159 0.61 15.13
TOTAL 6,594,100 661,786 4.02 100.00
TOTAL ASSETS 16,530,702 100.53
NET ASSETS 16,446,961 100.00

486
AXIS CORPORATE DEBT FUND
Percentage to
category

BANKS 330 332,959 13.82 17.87
Bank of Baroda* 130 129,662 5.38 6.96
HDFC Bank Limited* 50 50,276 2.09 2.70
State Bank of India* 100 103,819 4.31 5.57
Syndicate Bank* 50 49,202 2.04 2.64
FINANCE 150,780 934,083 38.76 50.12
REC Limited* 50 49,503 2.05 2.66
REC Limited 50 51,330 2.13 2.75
POWER 300 301,493 12.51 16.18

NRSS XXIX Transmission Limited* 100 100,300 4.16 5.38

SECURITISED DEBT
CONSTRUCTION 100 31,064 1.29 1.67
IIERT Trust* 100 31,064 1.29 1.67
RETAILING 51 51,006 2.12 2.74

RETAIL 7 13,498 0.56 0.71

TOTAL 151,768.00 1,863,653.00 77.34 100.00

FINANCE 1,500 141,539 5.87 100.00
TOTAL 1,500 141,539 5.87 100.00

COMMERCIAL PAPER
FINANCE 200 98,483 4.09 100.00
TOTAL 200 98,483 4.09 100.00

8.08% Tamilnadu SDL (MD 26/12/2028) 500,000 50,160 2.08 24.84
8.28% Gujarat SDL (MD 20/02/2029) 1,000,000 101,689 4.22 50.36
8.05% Gujarat SDL (MD 27/03/2029) 500,000 50,077 2.08 24.80
TOTAL 2,000,000 201,926 8.38 100.00
TOTAL ASSETS 2,420,069 100.43
NET ASSETS 2,410,253 100.00
487
AXIS ULTRA SHORT TERM FUND
Percentage to
category

AUTO 250 251,182 2.17 3.47
Tata Motors Limited* 250 251,182 2.17 3.47
BANKS 260 350,449 3.03 4.83

Bank of Baroda* 250 250,106 2.16 3.45
Ujjivan Small Finance Bank Limited* 10 100,343 0.87 1.38
CHEMICALS 250 247,598 2.14 3.42

Nirma Limited* 250 247,598 2.14 3.42
FINANCE 54,580 5,065,649 43.83 69.91

REC Limited* 100 101,243 0.88 1.40
Citicorp Finance India Limited* 250 250,344 2.17 3.45

Reliance Industries Limited* 50 49,480 0.43 0.68

POWER 150 149,385 1.29 2.06

TRADING 200 199,895 1.73 2.76


FINANCE 550 350,687 3.03 4.84

SERVICES 100 105,337 0.91 1.44


TOTAL 56,870.00 7,248,089.00 62.71 100.00
488
AXIS ULTRA SHORT TERM FUND (Contd.)
Percentage to
category
BANKS 20,000 1,941,019 16.81 100.00
Bandhan Bank Limited* 2,500 245,959 2.13 12.67
Equitas Small Finance Bank Limited* 2,500 246,398 2.13 12.69
Indusind Bank Limited* 2,500 233,970 2.03 12.05
The South Indian Bank Limited* 5,000 492,926 4.27 25.40
IDFC First Bank Limited* 5,000 484,197 4.19 24.95
TOTAL 20,000 1,941,019 16.81 100.00
COMMERCIAL PAPER
FERROUS METALS 300 149,026 1.29 11.40
JSW Steel Limited* 300 149,026 1.29 11.40
FINANCE 1,800 860,675 7.44 65.81

Indostar Capital Finance Limited* 500 247,641 2.14 18.94

Reliance Industries Limited* 100 49,672 0.43 3.80
POWER 500 248,407 2.15 18.99

TOTAL 2,700 1,307,780 11.31 100.00
SECURITISED DEBT
RETAIL 48 92,557 0.80 100.00
TOTAL 48 92,557 0.80 100.00
TOTAL ASSETS 11,676,118 101.04
NET ASSETS 11,553,601 100.00
489
AXIS BLUECHIP FUND
Percentage to
category
EQUITY SHARES
AUTO 225,000 1,501,324 3.13 3.51
Maruti Suzuki India Limited 225,000 1,501,324 3.13 3.51
BANKS 14,935,000 13,065,980 27.22 30.55
Bandhan Bank Limited 2,718,000 1,430,348 2.98 3.34
HDFC Bank Limited 2,042,000 4,735,194 9.86 11.07
ICICI Bank Limited 7,150,000 2,863,575 5.97 6.70
Kotak Mahindra Bank Limited 3,025,000 4,036,863 8.41 9.44
CEMENT 135,000 539,777 1.12 1.26
UltraTech Cement Limited 135,000 539,777 1.12 1.26
CHEMICALS 972,000 1,211,354 2.52 2.83
Pidilite Industries Limited 972,000 1,211,354 2.52 2.83
CONSTRUCTION PROJECT 1,205,000 1,669,287 3.48 3.90
Larsen & Toubro Limited 1,205,000 1,669,287 3.48 3.90
CONSUMER DURABLES 1,410,000 1,610,008 3.35 3.76
Titan Company Limited 1,410,000 1,610,008 3.35 3.76
CONSUMER NON DURABLES 2,041,000 4,519,165 9.42 10.57
Asian Paints Limited 1,060,000 1,582,262 3.30 3.70
Britannia Industries Limited 70,000 215,985 0.45 0.51
Hindustan Unilever Limited 785,000 1,339,838 2.79 3.13
Nestle India Limited 126,000 1,381,080 2.88 3.23
FINANCE 2,669,000 7,864,144 16.38 18.39
Bajaj Finance Limited 1,449,000 4,383,224 9.13 10.26
Bajaj Finserv Limited 213,000 1,498,892 3.12 3.50
Housing Development Finance Corporation Limited 1,007,000 1,982,028 4.13 4.63
PETROLEUM PRODUCTS 1,150,000 1,567,738 3.27 3.67

Reliance Industries Limited 1,150,000 1,567,738 3.27 3.67
PHARMACEUTICALS 495,000 843,035 1.76 1.97

Divi's Laboratories Limited 495,000 843,035 1.76 1.97
RETAILING 1,290,000 1,897,719 3.95 4.44

Avenue Supermarts Limited 1,290,000 1,897,719 3.95 4.44
SOFTWARE 6,155,000 6,479,123 13.49 15.15
Infosys Limited 3,880,000 2,886,138 6.01 6.75
Tata Consultancy Services Limited 1,725,000 3,452,845 7.19 8.07
Wipro Limited 550,000 140,140 0.29 0.33
TOTAL 32,682,000 42,768,654 89.09 100.00

FIXED DEPOSITS
BANKS 400,000,000 400,000 0.82 100.00
7.1% HDFC Bank Ltd Margin FD (MD 17/06/2019) 50,000,000 50,000 0.10 12.49
TOTAL 400,000,000 400,000 0.82 100.00

TOTAL ASSETS 49,357,783 102.80
LESS: CURRENT LIABILITIES 1,355,092 2.80
NET ASSETS 48,002,691 100.00
490
AXIS LONG TERM EQUITY FUND
Percentage to
category

TRANSPORTATION 227,601 2,295 # 100.00

Blue Dart Express Limited* 227,601 2,295 # 100.00
TOTAL 227,601 2,295 # 100.00
EQUITY SHARES
AUTO 1,385,744 10,515,010 5.58 5.90
Eicher Motors Limited 91,427 1,878,615 1.00 1.05
Maruti Suzuki India Limited 1,294,317 8,636,395 4.58 4.85
AUTO ANCILLARIES 27,319,113 10,695,916 5.67 6.00

Endurance Technologies Limited 2,044,367 2,373,203 1.26 1.33
Motherson Sumi Systems Limited 22,957,768 3,436,778 1.82 1.93
WABCO India Limited 582,669 3,881,770 2.06 2.18
Varroc Engineering Limited 1,734,309 1,004,165 0.53 0.56
BANKS 30,910,166 36,497,945 19.37 20.48

CHEMICALS 10,900,642 13,584,925 7.21 7.62

Pidilite Industries Limited 10,900,642 13,584,925 7.21 7.62
CONSTRUCTION PROJECT 1,800,714 2,494,529 1.32 1.40

Larsen & Toubro Limited 1,800,714 2,494,529 1.32 1.40

Symphony Limited 2,748,590 3,792,504 2.01 2.13
TTK Prestige Limited 843,037 7,361,526 3.91 4.13
V-Guard Industries Limited 5,177,734 1,151,269 0.61 0.65

Nestle India Limited 359,163 3,936,768 2.09 2.21
FINANCE 53,262,379 40,641,611 21.55 22.80

Gruh Finance Limited 34,922,188 9,631,539 5.11 5.40
Mas Financial Services Limited 2,047,805 1,153,426 0.61 0.65
Multi Commodity Exchange of India Limited 1,667,336 1,344,873 0.71 0.75
Sundaram Finance Holdings Limited 2,414,725 206,097 0.11 0.12
Sundaram Finance Limited 2,829,804 4,410,815 2.34 2.47
INDUSTRIAL PRODUCTS 6,671,948 5,893,938 3.13 3.31

Astral Poly Technik Limited 2,204,049 2,560,885 1.36 1.44
Cummins India Limited 4,467,899 3,333,053 1.77 1.87
PHARMACEUTICALS 2,019,127 3,105,738 1.65 1.74

Divi's Laboratories Limited 1,694,324 2,885,603 1.53 1.62
TTK Healthcare Limited 324,803 220,135 0.12 0.12
491
AXIS LONG TERM EQUITY FUND (Contd.)
Percentage to
category
POWER 29,157,585 7,508,078 3.98 4.21

Torrent Power Limited 29,157,585 7,508,078 3.98 4.21
RETAILING 6,087,972 8,956,016 4.75 5.03

SERVICES 951,013 710,169 0.38 0.40

Quess Corp Limited 951,013 710,169 0.38 0.40
SOFTWARE 10,973,502 21,373,193 11.34 11.99

Info Edge (India) Limited 3,720,412 6,855,045 3.64 3.85
TOTAL 190,568,429 178,219,135 94.55 100.00
TOTAL ASSETS 189,263,130 100.41
NET ASSETS 188,457,671 100.00

492
AXIS MIDCAP FUND
Percentage to
category
EQUITY SHARES
AUTO ANCILLARIES 980,823 1,299,068 5.92 6.72
Balkrishna Industries Limited 200,000 199,100 0.91 1.03
WABCO India Limited 47,105 313,816 1.43 1.62
BANKS 7,048,000 2,530,019 11.51 13.09

City Union Bank Limited 5,949,000 1,218,653 5.54 6.30
RBL Bank Limited 755,000 513,664 2.34 2.66
CEMENT 490,000 816,487 3.71 4.22

ACC Limited 490,000 816,487 3.71 4.22
TTK Prestige Limited 35,083 306,350 1.39 1.58
V-Guard Industries Limited 1,110,131 246,838 1.12 1.28
Voltas Limited 585,000 368,228 1.67 1.90
Bata India Limited 470,000 660,374 3.00 3.42
CONSUMER NON DURABLES 2,135,000 810,461 3.69 4.19
Berger Paints (I) Limited 1,250,000 404,688 1.84 2.09
Kansai Nerolac Paints Limited 885,000 405,773 1.85 2.10
FINANCE 7,465,500 4,040,353 18.37 20.90

Mahindra & Mahindra Financial Services Limited 1,510,000 636,012 2.89 3.29
Sundaram Finance Limited 347,000 540,869 2.46 2.80
Max Financial Services Limited 890,000 387,328 1.76 2.00
GAS 1,400,000 427,630 1.95 2.21

Indraprastha Gas Limited 1,400,000 427,630 1.95 2.21

Schaeffler India Limited 53,600 295,006 1.34 1.53
Supreme Industries Limited 469,426 524,513 2.39 2.71
SKF India Limited 140,967 288,235 1.31 1.49
PESTICIDES 217,748 224,705 1.02 1.16
PHARMACEUTICALS 874,000 1,939,028 8.81 10.03

Torrent Pharmaceuticals Limited 415,000 809,146 3.68 4.19
Sanofi India Limited 84,000 491,219 2.23 2.54
RETAILING 3,831,000 1,788,244 8.13 9.25
Aditya Birla Fashion and Retail Limited 2,200,000 484,770 2.20 2.51
Trent Limited 988,000 357,557 1.63 1.85
SERVICES 270,587 202,061 0.92 1.05

SOFTWARE 954,368 1,420,130 6.46 7.36

Info Edge (India) Limited 557,000 1,026,300 4.67 5.32
MphasiS Limited 397,368 393,830 1.79 2.04
TOTAL 29,692,391 19,330,593 87.91 100.00
TOTAL ASSETS 22,107,223 100.54
NET ASSETS 21,985,971 100.00
493
AXIS FOCUSED 25 FUND
Percentage to
category
EQUITY SHARES
AUTO 549,460 3,666,299 5.10 5.68
Maruti Suzuki India Limited 549,460 3,666,299 5.10 5.68

WABCO India Limited 198,923 1,325,235 1.84 2.05
BANKS 16,712,585 15,491,719 21.54 23.97

CHEMICALS 3,092,936 3,854,571 5.36 5.97

Pidilite Industries Limited 3,092,936 3,854,571 5.36 5.97

V-Guard Industries Limited 4,682,465 1,041,146 1.45 1.61

Asian Paints Limited 2,256,200 3,367,830 4.68 5.21
FINANCE 11,049,903 17,088,346 23.77 26.45

Bajaj Finserv Limited 617,050 4,342,212 6.04 6.72

Cummins India Limited 2,949,147 2,200,064 3.06 3.41
Supreme Industries Limited 2,993,026 3,344,258 4.65 5.18
RETAILING 2,695,122 3,964,794 5.51 6.14

SOFTWARE 4,264,158 8,291,697 11.53 12.84

Info Edge (India) Limited 1,531,449 2,821,770 3.92 4.37
TOTAL 52,272,782 64,598,138 89.83 100.00

COMMERCIAL PAPER
POWER 9,300 4,640,565 6.45 100.00
NTPC Limited* 9,300 4,640,565 6.45 100.00
TOTAL 9,300 4,640,565 6.45 100.00

FIXED DEPOSITS
BANKS 560,000,000 560,000 0.78 100.00
TOTAL 560,000,000 560,000 0.78 100.00
TOTAL ASSETS 72,248,411 100.47
NET ASSETS 71,900,111 100.00

494
AXIS ARBITRAGE FUND
Percentage to
category

FINANCE 101,465 1,685,211 8.04 77.59
India Infoline Finance Limited* 440 439,996 2.10 20.26
L&T Finance Limited* 15 37,330 0.18 1.72
Tata Capital Financial Services Limited* 490 490,185 2.34 22.57
POWER 180 180,419 0.85 8.31

TRADING 130 129,769 0.62 5.97


FINANCE 164 176,589 0.84 8.13
TOTAL 101,939 2,171,988 10.35 100.00
FINANCE 1,000 93,991 0.45 100.00
TOTAL 1,000 93,991 0.45 100.00
COMMERCIAL PAPER
FINANCE 2,100 1,035,989 4.93 100.00
Bahadur Chand Investments Pvt Limited* 1,000 495,378 2.36 47.82
TOTAL 2,100 1,035,989 4.93 100.00
EQUITY SHARES
AUTO 62,975 48,288 0.23 0.32
Mahindra & Mahindra Limited 62,000 41,782 0.20 0.29
Maruti Suzuki India Limited 975 6,506 0.03 0.03

Motherson Sumi Systems Limited 8,430,300 1,262,016 6.01 8.71
BANKS 2,086,500 501,167 2.38 3.46

Punjab National Bank 602,000 57,491 0.27 0.40
State Bank of India 1,047,000 335,825 1.60 2.32
The Federal Bank Limited 70,000 6,752 0.03 0.04
Yes Bank Limited 367,500 101,099 0.48 0.70
495
AXIS ARBITRAGE FUND (Contd.)
Percentage to
category
CEMENT 339,750 392,891 1.87 2.72

Century Textiles & Industries Limited 69,600 64,944 0.31 0.45
Shree Cement Limited 5,400 100,805 0.48 0.70
Grasim Industries Limited 264,750 227,142 1.08 1.57
CHEMICALS 528,500 658,643 3.14 4.55



ITC Limited 2,654,400 789,020 3.76 5.45
Nestle India Limited 6,600 72,342 0.34 0.50
Tata Global Beverages Limited 553,500 112,886 0.54 0.78
United Spirits Limited 1,216,250 673,681 3.21 4.65
FINANCE 1,991,125 3,331,964 15.88 23.00

Bajaj Finance Limited 362,500 1,096,563 5.23 7.57
Bajaj Finserv Limited 125 880 # 0.01

Jain Irrigation Systems Limited 252,000 14,843 0.07 0.10
Bharat Forge Limited 90,000 46,116 0.22 0.32
PESTICIDES 187,200 179,497 0.86 1.24

UPL Limited 187,200 179,497 0.86 1.24

PHARMACEUTICALS 3,384,800 1,813,211 8.63 12.52

Cadila Healthcare Limited 520,000 180,466 0.86 1.25
Sun Pharmaceutical Industries Limited 2,604,800 1,247,308 5.94 8.61
Wockhardt Limited 9,000 3,987 0.02 0.03
Strides Pharma Science Limited 37,400 17,668 0.08 0.12
POWER 2,638,000 241,267 1.15 1.67

Adani Power Limited 1,840,000 88,688 0.42 0.61
Torrent Power Limited 510,000 131,325 0.63 0.91
Tata Power Company Limited 288,000 21,254 0.10 0.15
SOFTWARE 2,536,400 901,315 4.29 6.23

Wipro Limited 2,390,400 609,074 2.90 4.21

Page Industries Limited 10,800 269,700 1.29 1.86
TRANSPORTATION 92,500 34,979 0.17 0.24

Adani Ports and Special Economic Zone Limited 92,500 34,979 0.17 0.24
TOTAL 29,265,825 14,482,799 69.00 100.00
496
Percentage to
category
FIXED DEPOSITS
BANKS 2,850,000,000 2,850,000 13.58 100.00
7.25% HDFC Bank Margin FD (MD 20/05/2019) 250,000,000 250,000 1.19 8.78
TOTAL 2,850,000,000 2,850,000 13.58 100.00
OTHER CURRENT ASSETS## 638,548 3.04
TOTAL ASSETS 21,273,315 101.35
NET ASSETS 20,986,250 100.00

##Other current assets includes MTM Payable on Futures
497
AXIS DYNAMIC EQUITY FUND
Percentage to
category

BANKS 250 245,771 1.05 7.96
FINANCE 525,820 1,864,369 7.94 60.36

Cholamandalam Investment and Finance Company Limited* 70 86,491 0.37 2.80


TRADING 360 359,361 1.53 11.63


FINANCE 180 204,621 0.87 6.63

TOTAL 527,030 3,088,713 13.15 100.00
EQUITY SHARES
AUTO 517,379 784,728 3.35 5.15
Tata Motors Limited 348,800 31,792 0.14 0.21

Exide Industries Limited 2,000 437 # #
MRF Limited 180 10,438 0.04 0.07
BANKS 10,847,506 3,593,294 15.29 23.59

Bandhan Bank Limited 73,308 38,578 0.16 0.25
Bank of Baroda 2,688,000 345,811 1.47 2.27
ICICI Bank Limited 1,444,250 578,422 2.46 3.80
State Bank of India 837,000 268,468 1.14 1.76
Syndicate Bank 1,230,000 53,136 0.23 0.35
498
AXIS DYNAMIC EQUITY FUND (Contd.)
Percentage to
category
Yes Bank Limited 2,054,500 565,193 2.41 3.71

City Union Bank Limited 901,418 184,655 0.79 1.21
Canara Bank 16,000 4,661 0.02 0.03
The Federal Bank Limited 287,000 27,681 0.12 0.18
The Karnataka Bank Limited 42,300 5,653 0.02 0.04
CEMENT 282,064 368,086 1.57 2.41

Shree Cement Limited 1,500 28,001 0.12 0.18
ACC Limited 139,114 231,806 0.99 1.52
The India Cements Limited 22,500 2,437 0.01 0.02
The Ramco Cements Limited 14,400 10,597 0.05 0.07
CONSTRUCTION 18,200 6,706 0.03 0.04

DLF Limited 10,400 2,105 0.01 0.01
Kajaria Ceramics Limited 7,800 4,601 0.02 0.03


Havells India Limited 50,000 38,625 0.16 0.25

ITC Limited 3,808,800 1,132,166 4.82 7.44
Dabur India Limited 120,000 49,056 0.21 0.32
Godrej Consumer Products Limited 1,800 1,235 0.01 0.01
Marico Limited 18,200 6,309 0.03 0.04
United Spirits Limited 255,000 141,245 0.60 0.93
Tata Global Beverages Limited 38,250 7,801 0.03 0.05
United Breweries Limited 18,900 26,362 0.11 0.17
FERROUS METALS 157,245 54,413 0.24 0.36

JSW Steel Limited 87,000 25,495 0.11 0.17
Tata Steel Limited 47,745 24,875 0.11 0.16
Jindal Steel & Power Limited 22,500 4,043 0.02 0.03
FINANCE 3,303,369 2,731,674 11.64 17.93

Gruh Finance Limited 1,065,682 293,915 1.25 1.93
LIC Housing Finance Limited 67,100 35,711 0.15 0.23
Shriram Transport Finance Company Limited 14,400 18,395 0.08 0.12
Equitas Holdings Limited 136,000 18,618 0.08 0.12
IDFC Limited 79,200 3,687 0.02 0.02
Mas Financial Services Limited 127,714 71,935 0.31 0.47
Sundaram Finance Holdings Limited 248,653 21,223 0.09 0.14
499
Percentage to
category

CG Power and Industrial Solutions Limited 132,000 5,636 0.02 0.04

MEDIA & ENTERTAINMENT 302,000 17,737 0.08 0.11

PVR Limited 4,000 6,587 0.03 0.04
TV18 Broadcast Limited 130,000 4,615 0.02 0.03
Dish TV India Limited 168,000 6,535 0.03 0.04
NON - FERROUS METALS 66,500 13,666 0.06 0.09

Hindalco Industries Limited 66,500 13,666 0.06 0.09
PESTICIDES 111,600 107,008 0.46 0.70

UPL Limited 111,600 107,008 0.46 0.70

PHARMACEUTICALS 1,039,900 751,002 3.21 4.95

Aurobindo Pharma Limited 320,000 250,960 1.07 1.65
Biocon Limited 18,900 11,539 0.05 0.08
Cadila Healthcare Limited 248,000 86,068 0.37 0.57
Dr. Reddy's Laboratories Limited 5,500 15,291 0.07 0.10
Glenmark Pharmaceuticals Limited 33,000 21,357 0.09 0.14
Lupin Limited 46,200 34,170 0.15 0.22
Sun Pharmaceutical Industries Limited 139,700 66,895 0.28 0.44
Wockhardt Limited 77,400 34,288 0.15 0.23
POWER 513,000 36,952 0.15 0.24

Tata Power Company Limited 162,000 11,955 0.05 0.08
Adani Power Limited 260,000 12,532 0.05 0.08
Reliance Infrastructure Limited 91,000 12,465 0.05 0.08
SOFTWARE 977,000 1,219,273 5.19 8.02

Infosys Limited 508,800 378,471 1.61 2.49
HCL Technologies Limited 58,100 63,181 0.27 0.41
Oracle Financial Services Software Limited 750 2,541 0.01 0.02
MindTree Limited 12,600 11,901 0.05 0.08
NIIT Technologies Limited 36,000 47,731 0.20 0.31
Tata Elxsi Limited 6,400 6,164 0.03 0.04
TELECOM - EQUIPMENT & ACCESSORIES 2,000 627 # #

Bharti Infratel Limited 2,000 627 # #
TELECOM - SERVICES 27,200 9,060 0.04 0.06

Bharti Airtel Limited 27,200 9,060 0.04 0.06

Arvind Limited 108,000 9,823 0.04 0.06
Raymond Limited 800 649 # #
TRANSPORTATION 73,100 28,273 0.12 0.20

InterGlobe Aviation Limited 600 857 # 0.01
TOTAL 25,808,453 15,225,744 64.85 100.00
500
Percentage to
category
FIXED DEPOSITS
BANKS 1,600,000,000 1,600,000 6.77 100.00
TOTAL 1,600,000,000 1,600,000 6.77 100.00
OTHER CURRENT ASSETS## 3,823,389 16.28
TOTAL ASSETS 23,737,846 101.05
NET ASSETS 23,481,452 100.00

501
AXIS MULTICAP FUND
Amount Percentage to Percentage to

(Rs.in '000) Net Assets Investment category

Listed Debentures and Bonds
FINANCE 200,575 761,315 2.30 75.44

Privately placed / Unlisted Debentures and Bonds

TOTAL 200,825 1,009,222 3.05 100.00
EQUITY SHARES
AUTO 140,000 934,157 2.83 3.22

BANKS 10,787,819 9,426,700 28.59 32.54

RBL Bank Limited 497,813 338,687 1.03 1.17
CEMENT 89,232 356,781 1.08 1.23

UltraTech Cement Limited 89,232 356,781 1.08 1.23
CHEMICALS 841,330 1,048,508 3.18 3.62

Pidilite Industries Limited 841,330 1,048,508 3.18 3.62


Titan Company Limited 1,010,000 1,153,269 3.50 3.98
V-Guard Industries Limited 1,636,717 363,924 1.10 1.26

Asian Paints Limited 720,000 1,074,743 3.26 3.71
FINANCE 2,178,659 4,244,197 12.87 14.66


PETROLEUM PRODUCTS 500,000 681,625 2.07 2.35

Reliance Industries Limited 500,000 681,625 2.07 2.35

502
AXIS MULTICAP FUND (Contd.)

RETAILING 1,000,000 1,471,100 4.46 5.08

SERVICES 220,000 164,285 0.50 0.57

SOFTWARE 3,510,000 4,069,961 12.34 14.05

Infosys Limited 2,350,000 1,748,048 5.30 6.03
TOTAL 24,833,233 28,966,698 87.84 100.00
FIXED DEPOSITS
BANKS 350,000,000 350,000 1.05 100.00
TOTAL 350,000,000 350,000 1.05 100.00
TOTAL ASSETS 33,320,580 101.00
NET ASSETS 32,984,409 100.00

503
AXIS EQUITY SAVER FUND
Percentage to
category

BANKS 674 657,287 8.65 36.33
Bank of Baroda* 140 135,862 1.79 7.51
Syndicate Bank* 30 29,521 0.39 1.63
CHEMICALS 200 198,078 2.61 10.95

Nirma Limited* 200 198,078 2.61 10.95
FINANCE 100,597 692,657 9.12 38.27

REC Limited* 300 299,518 3.94 16.54

POWER 51 51,240 0.67 2.83

SECURITISED DEBT
CONSTRUCTION 50 15,532 0.20 0.86
IIERT Trust* 50 15,532 0.20 0.86
TOTAL 101,772 1,809,488 23.81 100.00
EQUITY SHARES
AUTO 80,604 357,875 4.71 7.23
BANKS 2,655,015 1,260,532 16.58 25.46

Yes Bank Limited 1,734,250 477,092 6.28 9.63
CEMENT 260,450 267,142 3.51 5.39

ACC Limited 42,500 70,818 0.93 1.43
CHEMICALS 38,388 53,146 0.70 1.07

Aarti Industries Limited 30,888 48,730 0.64 0.98
Tata Chemicals Limited 7,500 4,416 0.06 0.09
CONSTRUCTION 7,800 1,579 0.02 0.03

DLF Limited 7,800 1,579 0.02 0.03
504
AXIS EQUITY SAVER FUND (Contd.)
Percentage to
category


Havells India Limited 1,000 773 0.01 0.02
Voltas Limited 100,687 63,377 0.83 1.28

ITC Limited 45,600 13,555 0.18 0.27
United Spirits Limited 16,250 9,001 0.12 0.18
Dabur India Limited 33,750 13,797 0.18 0.28
FERROUS METALS 42,000 12,308 0.16 0.25

JSW Steel Limited 42,000 12,308 0.16 0.25
FINANCE 2,378,974 1,461,305 19.22 29.52

Can Fin Homes Limited 12,600 4,396 0.06 0.09
Equitas Holdings Limited 164,000 22,452 0.30 0.45
LIC Housing Finance Limited 15,400 8,196 0.11 0.17
Multi Commodity Exchange of India Limited 4,200 3,388 0.04 0.07
GAS 15,000 3,773 0.05 0.08

Petronet LNG Limited 15,000 3,773 0.05 0.08

Suzlon Energy Limited 304,000 1,870 0.02 0.04

NON - FERROUS METALS 3,500 719 0.01 0.01

Hindalco Industries Limited 3,500 719 0.01 0.01
PESTICIDES 8,400 8,054 0.11 0.16

UPL Limited 8,400 8,054 0.11 0.16


Lupin Limited 40,600 30,028 0.40 0.61
POWER 600,000 28,920 0.38 0.58

Adani Power Limited 600,000 28,920 0.38 0.58
505
Percentage to
category
SOFTWARE 148,050 266,868 3.51 5.39

HCL Technologies Limited 10,500 11,418 0.15 0.23
Hexaware Technologies Limited 12,000 4,144 0.05 0.08

SRF Limited 21,500 51,665 0.68 1.04
TRANSPORTATION 52,500 19,853 0.26 0.40

TOTAL 7,577,342 4,951,677 65.12 100.00
GOVERNMENT SECURITIES 566,200 59,132 0.77 100.00

TOTAL 566,200 59,132 0.77 100.00
FIXED DEPOSITS
BANKS 500,000,000 500,000 6.57 100.00
7% HDFC Bank Ltd Margin FD (MD 11/04/2019) 30,000,000 30,000 0.39 6.00
TOTAL 500,000,000 500,000 6.57 100.00
OTHER CURRENT ASSETS## 315,586 4.15
TOTAL ASSETS 7,635,883 100.42
NET ASSETS 7,600,624 100.00

506
AXIS EMERGING OPPORTUNITIES FUND - SERIES 1 (1400 DAYS)
Percentage to
category
EQUITY SHARES
AUTO 1,068,000 97,508 1.66 1.74
Ashok Leyland Limited 1,068,000 97,508 1.66 1.74

MRF Limited 2,763 160,218 2.73 2.86
BANKS 2,910,837 596,285 10.16 10.64

City Union Bank Limited 2,910,837 596,285 10.16 10.64
CEMENT 238,710 313,473 5.35 5.59

JK Cement Limited 105,414 91,362 1.56 1.63
ACC Limited 133,296 222,111 3.79 3.96
CHEMICALS 57,346 90,734 1.55 1.62

Vinati Organics Limited 3,926 6,456 0.11 0.12

Symphony Limited 17,000 23,457 0.40 0.42
V-Guard Industries Limited 87,686 19,497 0.33 0.35
Voltas Limited 296,726 186,774 3.18 3.33
CONSUMER NON DURABLES 1,114,914 679,098 11.58 12.12

Berger Paints (I) Limited 932,584 301,924 5.15 5.39
Jubilant Foodworks Limited 49,724 71,801 1.22 1.28
FERTILISERS 244,656 124,163 2.12 2.22

Coromandel International Limited 244,656 124,163 2.12 2.22
FINANCE 2,587,539 1,516,963 25.85 27.07

TI Financial Holdings Limited 90,000 43,776 0.75 0.78
HOTELS, RESORTS AND OTHER RECREATIONAL ACTIVITIES 198,410 66,973 1.14 1.20
Chalet Hotels Limited 198,410 66,973 1.14 1.20


Syngene International Limited 92,687 55,177 0.94 0.98
Alkem Laboratories Limited 26,000 45,522 0.78 0.81
RETAILING 648,112 142,811 2.43 2.55

Aditya Birla Fashion and Retail Limited 648,112 142,811 2.43 2.55
SOFTWARE 33,458 56,966 0.97 1.02

Larsen & Toubro Infotech Limited 33,458 56,966 0.97 1.02

SRF Limited 58,371 140,268 2.39 2.50
507
AXIS EMERGING OPPORTUNITIES FUND - SERIES 1 (1400 DAYS) (Contd.)
Percentage to
category
TRANSPORTATION 110,835 58,222 0.99 1.04

TOTAL 10,969,612 5,603,314 95.50 100.00
COMMERCIAL PAPER
FINANCE 300 148,287 2.53 100.00
TOTAL 300 148,287 2.53 100.00
FIXED DEPOSITS
BANKS 20,000,000 20,000 0.34 100.00
TOTAL 20,000,000 20,000 0.34 100.00
TOTAL ASSETS 5,876,850 100.16
NET ASSETS 5,867,053 100.00

508
Percentage to
category
EQUITY SHARES
AUTO 2,215,000 202,230 1.60 1.67
Ashok Leyland Limited 2,215,000 202,230 1.60 1.67

MRF Limited 8,580 497,530 3.94 4.11
BANKS 6,008,797 1,230,902 9.74 10.17

City Union Bank Limited 6,008,797 1,230,902 9.74 10.17
CEMENT 508,247 670,458 5.30 5.54

ACC Limited 287,594 479,218 3.79 3.96
CHEMICALS 107,469 169,973 1.34 1.41


Voltas Limited 573,233 360,822 2.85 2.98

Berger Paints (I) Limited 2,098,238 679,305 5.37 5.62
Jubilant Foodworks Limited 94,610 136,617 1.08 1.13
FERTILISERS 630,485 319,971 2.53 2.64

FINANCE 5,551,048 3,256,075 25.74 26.92

Sundaram Finance Limited 642,638 1,001,680 7.92 8.28


Syngene International Limited 173,985 103,573 0.82 0.86
Alkem Laboratories Limited 52,000 91,044 0.72 0.75
RETAILING 1,061,658 233,936 1.85 1.93

Aditya Birla Fashion and Retail Limited 1,061,658 233,936 1.85 1.93
SOFTWARE 68,575 116,756 0.92 0.97

Larsen & Toubro Infotech Limited 68,575 116,756 0.92 0.97
509
AXIS EMERGING OPPORTUNITIES FUND - SERIES 2 (1400 DAYS) (Contd.)
Percentage to
category

SRF Limited 97,767 234,934 1.86 1.94
TRANSPORTATION 221,670 116,443 0.92 0.96

TOTAL 22,961,730 12,097,860 95.66 100.00
COMMERCIAL PAPER
FINANCE 640 316,345 2.50 100.00
TOTAL 640 316,345 2.50 100.00
FIXED DEPOSITS
BANKS 30,000,000 30,000 0.25 100.00
TOTAL 30,000,000 30,000 0.25 100.00
TOTAL ASSETS 12,663,561 100.15
NET ASSETS 12,643,461 100.00

510
AXIS EQUITY ADVANTAGE FUND - SERIES 1

COMMERCIAL PAPER
FINANCE 500 247,144 2.55 100.00
TOTAL 500 247,144 2.55 100.00
EQUITY SHARES
AUTO 50,000 333,628 3.44 4.92

BANKS 1,690,861 1,389,747 14.34 20.48

CHEMICALS 363,267 452,721 4.67 6.67



FINANCE 1,446,725 1,609,184 16.59 23.72



RETAILING 348,000 511,943 5.28 7.54

SOFTWARE 1,085,000 1,259,735 12.99 18.56

Infosys Limited 715,000 531,852 5.48 7.85
TOTAL 5,947,788 6,785,751 69.98 100.00
DERIVATIVES 468,750 18,074 0.18 100.00

Nifty Index 10000 Put June 2020 Option* 75,000 2,374 0.02 13.13
Nifty Index 9000 Put June 2020 Option* 318,750 1,450 0.01 8.01
Nifty Index 9900 Put June 2020 Option 75,000 14,250 0.15 78.86
TOTAL 468,750 18,074 0.18 100.00
511
AXIS EQUITY ADVANTAGE FUND - SERIES 1 (Contd.)

FIXED DEPOSITS
BANKS 50,000,000 50,000 0.52 100.00
TOTAL 50,000,000 50,000 0.52 100.00
TOTAL ASSETS 9,713,482 100.17
NET ASSETS 9,697,837 100.00

512

EQUITY SHARES
AUTO 4,800 32,028 3.40 4.89

BANKS 190,560 156,323 16.59 23.84

CHEMICALS 35,000 43,619 4.63 6.65



FINANCE 135,627 123,762 13.13 18.88



RETAILING 32,000 47,075 5.00 7.18

SOFTWARE 117,000 145,147 15.41 22.15

Infosys Limited 67,000 49,837 5.29 7.60
TOTAL 590,417 655,617 69.59 100.00
DERIVATIVES 45,000 6,175 0.65 100.00

Nifty Index 10000 Put June 2020 Option* 15,000 475 0.05 7.69
Nifty Index 9900 Put June 2020 Option 30,000 5,700 0.60 92.31
TOTAL 45,000 6,175 0.65 100.00
FIXED DEPOSITS
BANKS 3,000,000 3,000 0.32 100.00
TOTAL 3,000,000 3,000 0.32 100.00
513
AXIS EQUITY ADVANTAGE FUND - SERIES 2 (Contd.)

NET ASSETS 942,252 100.00

514
AXIS CAPITAL BUILDER FUND - SERIES 1 (1540 DAYS)


FINANCE 70 70,435 1.58 100.00
TOTAL 70 70,435 1.58 100.00
COMMERCIAL PAPER
FINANCE 360 177,944 4.00 100.00
TOTAL 360 177,944 4.00 100.00
EQUITY SHARES
AUTO 19,200 128,113 2.88 3.48

BANKS 781,025 623,005 14.01 16.91

CEMENT 735 13,721 0.31 0.37

Shree Cement Limited 735 13,721 0.31 0.37
CHEMICALS 1,087,692 108,049 2.43 2.93

Camlin Fine Sciences Limited 1,052,391 52,356 1.18 1.42


ITC Limited 261,000 77,582 1.74 2.10
FERROUS METALS 105,000 54,705 1.23 1.48

FERTILISERS 191,235 97,052 2.18 2.63

FINANCE 1,020,735 710,094 15.97 19.29


PESTICIDES 88,382 91,206 2.05 2.47

515
AXIS CAPITAL BUILDER FUND - SERIES 1 (1540 DAYS) (Contd.)


SOFTWARE 428,575 527,776 11.88 14.32

Infosys Limited 218,575 162,587 3.66 4.41
Tech Mahindra Limited 45,000 34,916 0.79 0.95
TRANSPORTATION 210,000 110,313 2.48 2.99

TOTAL 5,536,538.00 3,685,897.00 82.89 100.00
DERIVATIVES 71,250 5,511 0.12 100.00

NIFTY_30/12/2021_10500_PE* 71,250 5,511 0.12 100.00
TOTAL 71,250 5,511 0.12 100.00
TOTAL ASSETS 4,454,063 100.16
NET ASSETS 4,446,063 100.00

516
AXIS SMALL CAP FUND

EQUITY SHARES
CEAT Limited 24,029 26,910 0.91 1.19
Igarashi Motors India Limited 72,127 24,960 0.85 1.10
Tube Investments of India Limited 34,413 13,187 0.45 0.58
Minda Industries Limited 12,798 4,177 0.14 0.18
BANKS 906,000 185,594 6.31 8.18

CEMENT 747,460 162,695 5.53 7.18

HeidelbergCement India Limited 708,062 128,549 4.37 5.67
CHEMICALS 327,502 430,939 14.64 19.01

Galaxy Surfactants Limited 112,795 119,213 4.05 5.26
Fine Organic Industries Limited 96,242 119,282 4.05 5.26
CONSTRUCTION 63,341 20,576 0.70 0.91

Ahluwalia Contracts (India) Limited 63,341 20,576 0.70 0.91

Blue Star Limited 129,367 87,698 2.98 3.87

VST Industries Limited 24,537 84,775 2.88 3.74
FINANCE 482,630 207,851 7.06 9.17

Can Fin Homes Limited 169,674 59,191 2.01 2.61
Mas Financial Services Limited 255,176 143,728 4.88 6.34

Grindwell Norton Limited 132,554 78,989 2.68 3.48
MM Forgings Limited 51,992 28,299 0.96 1.25
Schaeffler India Limited 18,565 102,179 3.47 4.50
Vesuvius India Limited 46,184 53,539 1.82 2.36
Orient Refractories Limited 238,205 56,836 1.93 2.51

Gulf Oil Lubricants India Limited 146,014 122,922 4.18 5.41
SOFTWARE 59,332 78,665 2.67 3.47

NIIT Technologies Limited 59,332 78,665 2.67 3.47

SRF Limited 32,010 76,920 2.61 3.39
TOTAL 4,462,188 2,268,040 77.05 100.00
TOTAL ASSETS 2,967,169 100.80
NET ASSETS 2,943,416 100.00
517
AXIS CHILDREN'S GIFT FUND
Percentage to
category

BANKS 310 348,564 8.64 40.38
Syndicate Bank* 10 9,840 0.24 1.14
Ujjivan Small Finance Bank Limited* 5 50,171 1.24 5.81
CHEMICALS 150 148,559 3.69 17.21

Nirma Limited* 150 148,559 3.69 17.21
FINANCE 260 258,331 6.41 29.93

POWER 60 59,999 1.49 6.95


FINANCE 40 47,646 1.18 5.53
TOTAL 820 863,099 21.41 100.00
EQUITY SHARES
AUTO 12,400 82,740 2.05 3.04

BANKS 852,838 641,898 15.93 23.59

CHEMICALS 590,552 131,486 3.26 4.83

Camlin Fine Sciences Limited 477,836 23,772 0.59 0.87
Sudarshan Chemical Industries Limited 46,027 15,829 0.39 0.58


518
AXIS CHILDREN'S GIFT FUND (Contd.)
Percentage to
category

ITC Limited 200,000 59,450 1.47 2.18
FINANCE 378,780 548,781 13.61 20.17

HDFC Life Insurance Company Limited 54,150 20,496 0.51 0.75

PESTICIDES 53,548 55,258 1.37 2.03


RETAILING 38,401 56,492 1.40 2.08

SOFTWARE 295,000 378,176 9.39 13.90

Infosys Limited 165,000 122,735 3.05 4.51
TRANSPORTATION 126,380 85,964 2.13 3.16

TOTAL 3,592,730 2,720,981 67.51 100.00

7.59% Government of India(MD 11/01/2026) 50,000 5,078 0.13 3.24
8.06% Karnataka SDL (MD 27/03/2029) 500,000 50,080 1.24 31.96
TOTAL 1,550,000 156,708 3.89 100.00
TOTAL ASSETS 4,045,556 100.37
NET ASSETS 4,030,678 100.00

519
AXIS TRIPLE ADVANTAGE FUND
Percentage to
category

BANKS 75 72,318 2.57 28.38
FINANCE 175 177,373 6.29 69.62

REC Limited* 10 10,140 0.36 3.98
India Infrastructure Fin Co Limited 25 26,847 0.95 10.54

Hindalco Industries Limited* 5 5,116 0.18 2.00
TOTAL 255 254,807 9.04 100.00
EQUITY SHARES
AUTO 8,800 58,718 2.08 3.02


BANKS 474,484 451,043 15.99 23.25

CHEMICALS 514,805 77,847 2.76 4.01

Camlin Fine Sciences Limited 476,037 23,683 0.84 1.22



ITC Limited 134,000 39,832 1.41 2.05
FINANCE 333,774 382,320 13.55 19.71


PESTICIDES 36,846 38,023 1.35 1.96


520
AXIS TRIPLE ADVANTAGE FUND (Contd.)
Percentage to
category
RETAILING 35,743 52,582 1.86 2.71


SOFTWARE 208,000 274,327 9.72 14.11

Infosys Limited 110,000 81,824 2.90 4.21
TRANSPORTATION 122,521 80,394 2.85 4.14

TOTAL 2,496,212 1,941,341 68.81 100.00
COMMERCIAL PAPER
FINANCE 200 98,858 3.50 100.00
TOTAL 200 98,858 3.50 100.00

8.12% Government of India (MD 10/12/2020) 7,800 800 0.03 0.78
8.06% Karnataka SDL (MD 27/03/2029) 1,000,000 100,159 3.55 97.77
TOTAL 1,022,000 102,442 3.63 100.00

MUTUAL FUND UNITS 115,504 320,968 11.38 100.00
Axis Gold ETF 115,504 320,968 11.38 100.00
TOTAL 115,504 320,968 11.38 100.00
TOTAL ASSETS 2,830,566 100.34
NET ASSETS 2,820,908 100.00

521
AXIS NIFTY ETF

EQUITY SHARES
AUTO 4,957 4,460 6.03 6.11
Tata Motors Limited 2,850 497 0.67 0.68
Maruti Suzuki India Limited 208 1,388 1.88 1.90
Mahindra & Mahindra Limited 1,461 985 1.33 1.35
Bajaj Auto Limited 213 620 0.84 0.85
Eicher Motors Limited 22 452 0.61 0.62
Hero MotoCorp Limited 203 518 0.70 0.71
BANKS 27,927 20,932 28.36 28.64

IndusInd Bank Limited 803 1,429 1.94 1.96
State Bank of India 5,872 1,883 2.55 2.58
Yes Bank Limited 2,900 798 1.08 1.09
Axis Bank Limited 2,794 2,172 2.94 2.97
CEMENT 781 1,182 1.60 1.62

UltraTech Cement Limited 163 652 0.88 0.89
Grasim Industries Limited 618 530 0.72 0.73

CONSUMER DURABLES 654 747 1.01 1.02

Titan Company Limited 654 747 1.01 1.02

ITC Limited 13,438 3,994 5.41 5.47
Asian Paints Limited 706 1,054 1.43 1.44
Britannia Industries Limited 184 568 0.77 0.78
FERROUS METALS 2,773 1,082 1.46 1.48

JSW Steel Limited 1,590 466 0.63 0.64
Tata Steel Limited 1,183 616 0.83 0.84
FINANCE 3,573 7,327 9.93 10.03

Bajaj Finance Limited 371 1,122 1.52 1.54
Indiabulls Housing Finance Limited 522 448 0.61 0.61
Bajaj Finserv Limited 95 669 0.91 0.92
GAS 1,413 491 0.67 0.67

GAIL (India) Limited 1,413 491 0.67 0.67
MEDIA & ENTERTAINMENT 873 389 0.53 0.53

Zee Entertainment Enterprises Limited 873 389 0.53 0.53
MINERALS/MINING 2,626 623 0.84 0.85

Coal India Limited 2,626 623 0.84 0.85
NON - FERROUS METALS 5,140 996 1.35 1.36

Hindalco Industries Limited 2,287 470 0.64 0.64
Vedanta Limited 2,853 526 0.71 0.72
OIL 4,730 756 1.02 1.03

Oil & Natural Gas Corporation Limited 4,730 756 1.02 1.03
522
AXIS NIFTY ETF (Contd.)

PESTICIDES 575 551 0.75 0.75

UPL Limited 575 551 0.75 0.75

Bharat Petroleum Corporation Limited 1,223 486 0.66 0.67
Indian Oil Corporation Limited 3,687 600 0.81 0.83

Dr. Reddy's Laboratories Limited 190 528 0.72 0.72
Sun Pharmaceutical Industries Limited 1,729 828 1.12 1.13
Cipla Limited 795 420 0.57 0.57
POWER 9,961 1,570 2.13 2.15

Power Grid Corporation of India Limited 3,606 714 0.97 0.98
NTPC Limited 6,355 856 1.16 1.17
SOFTWARE 11,800 10,016 13.57 13.70

Infosys Limited 5,955 4,430 6.00 6.06
Tech Mahindra Limited 986 765 1.04 1.05
HCL Technologies Limited 850 924 1.25 1.26
Wipro Limited 2,363 602 0.82 0.82
TELECOM - EQUIPMENT & ACCESSORIES 1,333 418 0.57 0.57

Bharti Infratel Limited 1,333 418 0.57 0.57
TELECOM - SERVICES 2,067 689 0.93 0.95

Bharti Airtel Limited 2,067 689 0.93 0.95
TRANSPORTATION 1,233 466 0.63 0.65

Adani Ports and Special Economic Zone Limited 1,233 466 0.63 0.65
TOTAL 112,783 73,072 99.00 100.00
NET ASSETS 73,797 100.00
523
AXIS EQUITY HYBRID FUND
Percentage to
category
BANKS 450 447,805 2.02 10.36
Bank of Baroda* 450 447,805 2.02 10.36
CHEMICALS 400 396,157 1.79 9.17

Nirma Limited* 400 396,157 1.79 9.17
CONSTRUCTION 3,600 357,601 1.62 8.27

FINANCE 2,535 2,546,840 11.51 58.92

REC Limited* 205 210,245 0.95 4.86
Kotak Mahindra Prime Limited* 250 250,071 1.13 5.79
REC Limited 30 29,406 0.13 0.68
POWER 178 173,870 0.79 4.02


FINANCE 550 399,786 1.80 9.26
TOTAL 7,713 4,322,059 19.53 100.00
FINANCE 2,500 234,977 1.06 100.00
TOTAL 2,500 234,977.00 1.06 100.00
COMMERCIAL PAPER
FINANCE 1,500 731,052 3.31 100.00
Power Finance Corporation Limited* 1,000 483,908 2.19 66.19
TOTAL 1,500 731,052.00 3.31 100.00
EQUITY SHARES
AUTO 72,000 480,424 2.17 3.09

AUTO ANCILLARIES 2,707,113 642,427 2.91 4.13

Motherson Sumi Systems Limited 2,202,554 329,722 1.49 2.12
524
AXIS EQUITY HYBRID FUND (Contd.)
Percentage to
category
BANKS 4,887,365 3,966,050 17.93 25.50

HDFC Bank Limited 615,000 1,426,124 6.45 9.17
Kotak Mahindra Bank Limited 940,208 1,254,708 5.67 8.06
CHEMICALS 185,962 231,755 1.05 1.49




ITC Limited 1,200,000 356,700 1.61 2.29
FERROUS METALS 341,862 178,110 0.81 1.15

FINANCE 3,086,429 3,292,552 14.89 21.18

HDFC Life Insurance Company Limited 500,000 189,250 0.86 1.22
PESTICIDES 300,000 309,585 1.40 1.99



RETAILING 314,911 463,266 2.09 2.98

SOFTWARE 2,078,223 2,436,865 11.01 15.69

Infosys Limited 1,050,000 781,043 3.53 5.03
Tata Consultancy Services Limited 700,000 1,401,154 6.33 9.02
Tech Mahindra Limited 328,223 254,668 1.15 1.64
TRANSPORTATION 877,967 461,196 2.08 2.97

TOTAL 17,904,139 15,548,688 70.29 100.00
525
AXIS EQUITY HYBRID FUND (Contd.)
Percentage to
category
FIXED DEPOSITS
BANKS 250,000,000 250,000 1.13 100.00
TOTAL 250,000,000 250,000 1.13 100.00
TOTAL ASSETS 22,252,363 100.59
NET ASSETS 22,123,270 100.00

526
Axis Growth Opportunities Fund

Percentage to
category
EQUITY SHARES
AUTO 44,000 293,592 4.23 5.74


BANKS 1,204,905 912,599 13.15 17.86

RBL Bank Limited 164,005 111,581 1.61 2.18
CHEMICALS 134,602 167,748 2.42 3.28


Bata India Limited 86,000 120,834 1.74 2.36

FINANCE 634,918 780,408 11.23 15.27


PESTICIDES 200,133 206,527 2.98 4.04


Sanofi India Limited 23,200 135,670 1.95 2.66
POWER 1,077,000 277,328 4.00 5.43

Torrent Power Limited 1,077,000 277,328 4.00 5.43
RETAILING 104,600 153,877 2.22 3.01

SERVICES 373,300 278,762 4.02 5.45

SOFTWARE 1,008,633 753,484 10.86 14.76

Wipro Limited 709,333 180,738 2.60 3.54
TOTAL 6,509,989 5,110,574 73.64 100.00
527
Axis Growth Opportunities Fund (Contd.)

Percentage to
category
FOREIGN SECURITIES
AGRICULTURAL & FARM MACHINERY 3,720 41,130 0.59 2.97
Deere And Co Limited 3,720 41,130 0.59 2.97
APPLICATION SOFTWARE 4,000 73,734 1.06 5.32

Adobe Inc. 4,000 73,734 1.06 5.32
AUTOMOTIVE RETAIL 620 43,921 0.63 3.17

Autozone Inc. (USD) 620 43,921 0.63 3.17
CABLE & SATELLITE 29,502 81,587 1.18 5.89

Comcast Corp-Class A 29,502 81,587 1.18 5.89
DATA PROCESSING & OUTSOURCED SERVICES 6,000 64,823 0.93 4.68

Visa Inc. 6,000 64,823 0.93 4.68
DIVERSIFIED BANKS 69,060 198,831 2.87 14.35

JP Morgan Chase & Co 13,160 92,149 1.33 6.65
Bank Of America Corp 55,900 106,682 1.54 7.70
ELECTRICAL COMPONENTS & EQUIPMENT 6,677 81,037 1.17 5.85

Rockwell Automation Inc 6,677 81,037 1.17 5.85
FERTILIZERS & AGRICULTURAL CHEMICALS 22,000 80,289 1.16 5.79

Nutrien Limited 22,000 80,289 1.16 5.79
HEALTH CARE EQUIPMENT 6,000 37,801 0.54 2.73

Medtronic PLC 6,000 37,801 0.54 2.73
INTERACTIVE MEDIA & SERVICES 1,698 138,229 1.99 9.98

Alphabet Inc. A 1,698 138,229 1.99 9.98
INTERNET & DIRECT MARKETING RETAIL 3,719 103,495 1.49 7.46

Alibaba Group Holding Adr 3,200 40,385 0.58 2.91
Booking Holdings Inc 330 39,830 0.57 2.87
Amazon Com Inc 189 23,280 0.34 1.68
LIFE SCIENCES TOOLS & SERVICES 3,000 56,801 0.82 4.10

Thermo Fisher Scientific Inc. 3,000 56,801 0.82 4.10
PACKAGED FOODS & MEATS 17,762 117,111 1.69 8.45

Nestle SA 17,762 117,111 1.69 8.45
PAPER PACKAGING 19,400 62,091 0.89 4.48

International Paper Co 19,400 62,091 0.89 4.48
SEMICONDUCTORS 28,735 182,446 2.63 13.18

Broadcom Inc. 2,735 56,889 0.82 4.11
Intel Corp 18,000 66,861 0.96 4.83
Texas Instrs Inc. Com 8,000 58,696 0.85 4.24
SYSTEMS SOFTWARE 6,000 22,291 0.32 1.60

Oracle Corporation 6,000 22,291 0.32 1.60
TOTAL 227,893 1,385,617 19.96 100.00
528
Axis Growth Opportunities Fund (Contd.)

Percentage to
category
TOTAL ASSETS 6,989,675 100.71
NET ASSETS 6,940,422 100.00
529
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2019 are presented below.
The industry and company exposures are stated as a percentage of the Scheme’s net assets

(Rs.in '000) Assets category

FINANCE 17 13,276 0.15 100.00
Kotak Mahindra Investments Limited* 17 13,276 0.15 100.00
TOTAL 17 13,276 0.15 100.00
COMMERCIAL PAPER
FINANCE 600 296,573 3.32 100.00
TOTAL 600 296,573 3.32 100.00
EQUITY SHARES
AUTO 27,000 180,159 2.01 2.34

BANKS 3,407,668 2,239,046 25.03 29.14

City Union Bank Limited 1,083,879 222,033 2.48 2.89
CEMENT 142,076 236,741 2.65 3.08

ACC Limited 142,076 236,741 2.65 3.08
CHEMICALS 80,514 127,684 1.43 1.66



FINANCE 989,480 1,370,644 15.32 17.83



SOFTWARE 919,987 1,048,639 11.72 13.64

Infosys Limited 630,348 468,883 5.24 6.09

SRF Limited 32,927 79,124 0.88 1.02
530
AXIS CAPITAL BUILDER FUND - SERIES 4 (1582 DAYS) (Contd.)
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments at March 31, 2019 are presented below.
The industry and company exposures are stated as a percentage of the Scheme’s net assets

(Rs.in '000) Assets category
TOTAL 7,141,669 7,687,005 85.93 100.00
FIXED DEPOSITS
BANKS 200,000,000 200,000 2.24 100.00
TOTAL 200,000,000 200,000 2.24 100.00
TOTAL ASSETS 8,967,322 100.25
NET ASSETS 8,944,457 100.00

531
AXIS GOLD ETF
Percentage to
Industry and Company Particulars Quantity (In Kg.) Investment
category
GOLD 333 1,052,620 97.32 100.00

GOLD 995 1KG BAR 333 1,052,620 97.32 100.00
TOTAL 333 1,052,620 97.32 100.00
TOTAL ASSETS 1,101,208 101.81
NET ASSETS 1,081,573 100.00
532
Percentage to
category

BANKS 190 189,707 5.57 8.30
FINANCE 1,420 1,707,286 50.15 74.75

REC Limited* 55 55,190 1.62 2.42
POWER 124 130,190 3.82 5.70

RETAILING 100 127,940 3.76 5.60

Aditya Birla Fashion and Retail Limited* 100 127,940 3.76 5.60


TOTAL 1,964 2,284,286 67.09 100
BANKS 3,700 369,098 10.84 100.00
TOTAL 3,700 369,098 10.84 100.00
DERIVATIVES 67,500 241,684 7.10 100.00

Nifty Index 8200 Call June 2019 Option* 67,500 241,684 7.10 100.00
TOTAL 67,500 241,684 7.10 100.00
TOTAL ASSETS 3,410,053 100.16
NET ASSETS 3,404,673 100.00

533
Percentage to
category

FINANCE 1,085 1,290,424 43.89 81.11
POWER 56 70,233 2.39 4.42


TOTAL 1,371 1,590,655 54.10 100.00
BANKS 5,800 575,478 19.58 100.00
IDFC First Bank Limited* 3,000 295,983 10.07 51.43
TOTAL 5,800 575,478 19.58 100.00
DERIVATIVES 150,000 581,220 19.77 100.00

TOTAL 150,000 581,220 19.77 100.00
TOTAL ASSETS 2,944,490 100.16
NET ASSETS 2,939,696 100.00

534
Percentage to
category

FINANCE 46 50,463 52.26 64.10
REC Limited* 10 9,900 10.25 12.57
Export Import Bank of India 4 3,991 4.13 5.07
POWER 17 18,737 19.40 23.80

NHPC Limited* 10 9,927 10.28 12.61

FINANCE 8 9,529 9.87 12.10
TOTAL 71 78,729 81.53 100.00
DERIVATIVES 3,450 5,644 5.84 100.00

Nifty Index 10600 Call June 2020 Option* 525 1,094 1.13 19.38
TOTAL 3,450 5,644 5.84 100.00
NET ASSETS 96,551 100.00

535
Percentage to
category

FINANCE 18 19,491 43.61 52.76
REC Limited* 4 3,960 8.86 10.72
POWER 8 8,740 19.56 23.65

NHPC Limited* 5 4,964 11.11 13.43


FINANCE 4 4,765 10.66 12.88
TOTAL 34 36,954 82.68 100.00
DERIVATIVES 1,575 2,569 5.75 100.00

Nifty Index 10600 Call June 2020 Option* 225 469 1.05 18.26
TOTAL 1,575 2,569 5.75 100.00
NET ASSETS 44,700 100.00

536
Percentage to
category

FINANCE 23 24,488 47.05 56.67
REC Limited* 5 4,950 9.51 11.46
POWER 9 9,998 19.21 23.14

NHPC Limited* 5 4,964 9.54 11.49


FINANCE 4 4,765 9.16 11.03
TOTAL 40 43,209 83.02 100.00
DERIVATIVES 1,800 2,958 5.66 100.00

Nifty Index 10600 Call June 2020 Option* 300 625 1.20 21.13
TOTAL 1,800 2,958 5.66 100.00
NET ASSETS 52,046 100.00

537
AXIS CAPITAL PROTECTION ORIENTED FUND - SERIES 5
Percentage to
category

FINANCE 212 266,955 45.38 72.82
REC Limited* 56 56,284 9.57 15.35
POWER 55 56,654 9.63 15.45


TOTAL 310 366,609 62.32 100.00
DERIVATIVES 38,625 138,297 23.51 100.00

TOTAL 38,625 138,297 23.51 100.00
NET ASSETS 588,251 100.00

538
Percentage to
category

FINANCE 320 478,908 41.38 70.51
REC Limited* 50 50,218 4.34 7.39
POWER 60 75,292 6.51 11.09


TRADING 20 19,965 1.73 2.94

TOTAL 505 679,164 58.69 100.00
DERIVATIVES 75,000 312,679 27.02 100.00

TOTAL 75,000 312,679 27.02 100.00
TOTAL ASSETS 1,159,191 100.17
NET ASSETS 1,157,281 100.00

539
Percentage to
category

FINANCE 341 436,837 28.94 65.22
POWER 86 107,926 7.15 16.11


TOTAL 552 669,762 44.37 100.00
DERIVATIVES 101,250 461,842 30.61 100.00

TOTAL 101,250 461,842 30.61 100.00
TOTAL ASSETS 1,511,188 100.15
NET ASSETS 1,508,825 100.00

540
Percentage to
category

CEMENT 200 200,060 7.35 9.64
UltraTech Cement Limited* 200 200,060 7.35 9.64
FINANCE 211,290 1,618,005 59.48 78.01

REC Limited* 210 210,778 7.75 10.16
POWER 225 226,563 8.33 10.92



FINANCE 10 9,954 0.37 0.48
TOTAL 211,745 2,074,372 76.26 100.00
DERIVATIVES 180,000 559,500 20.57 100.00

Nifty Index 8600 Call December 2019 Option 150,000 468,750 17.23 83.78
TOTAL 180,000 559,500 20.57 100.00
TOTAL ASSETS 2,725,012 100.18
NET ASSETS 2,720,320 100.00

541
Percentage to
category

BANKS 70 69,983 1.74 2.27
CEMENT 200 199,531 4.97 6.47

FINANCE 291,699 2,197,668 54.75 71.25

REC Limited* 240 241,215 6.01 7.82
POWER 328 355,445 8.86 11.52


TOTAL 292,557 3,084,559 76.85 100.00
DERIVATIVES 262,500 794,063 19.78 100.00

TOTAL 262,500 794,063 19.78 100.00
TOTAL ASSETS 4,020,495 100.17
NET ASSETS 4,013,652 100.00

542
Percentage to
category

FINANCE 131,936 2,065,437 52.37 70.77
REC Limited* 325 326,706 8.28 11.19
POWER 310 321,826 8.16 11.03



FINANCE 330 329,707 8.36 11.30
TOTAL 132,776 2,918,456 74.00 100.00
DERIVATIVES 258,750 814,614 20.65 100.00

Nifty Index 8800 Call December 2019 Option* 108,750 361,344 9.16 44.35
Nifty Index 8900 Call December 2019 Option* 75,000 242,145 6.14 29.73
TOTAL 258,750 814,614 20.65 100.00
TOTAL ASSETS 3,950,993 100.18
NET ASSETS 3,943,434 100.00

543
Percentage to
category

AUTO 50 50,450 2.31 3.33
FINANCE 260,727 1,127,319 51.70 74.45

REC Limited* 150 151,359 6.94 10.00
POWER 25 25,147 1.15 1.66



FINANCE 150 150,190 6.89 9.92
TOTAL 261,112 1,514,295 69.44 100.00
DERIVATIVES 132,000 544,890 24.99 100.00

TOTAL 132,000 544,890 24.99 100.00
TOTAL ASSETS 2,184,906 100.19
NET ASSETS 2,180,865 100.00

544
AXIS FIXED TERM PLAN – SERIES 64
Percentage to
category

FINANCE 13 13,012 13.35 46.41
POWER 4 5,019 5.15 17.91


TOTAL 27 28,031 28.76 100.00
NET ASSETS 97,430 100.00
545
AXIS FIXED TERM PLAN - SERIES 95 (1185 DAYS)
Percentage to
category

FINANCE 843 840,053.00 86.13 89.47
Export Import Bank of India* 95 99,085.00 10.16 10.55
HDB Financial Services Limited* 105 105,840.00 10.85 11.28
LIC Housing Finance Limited* 47 51,108.00 5.24 5.44
National Bank For Agriculture and Rural Development* 106 107,787.00 11.05 11.48
Power Finance Corporation Limited* 100 98,776.00 10.13 10.52
Small Industries Dev Bank of India* 54 55,104.00 5.65 5.87
REC Limited* 95 97,901.00 10.04 10.43
Bajaj Housing Finance Limited* 100 108,576.00 11.13 11.56
Kotak Mahindra Prime Limited* 141 115,876.00 11.88 12.34
POWER 100 98,809.00 10.13 10.53

NHPC Limited* 100 98,809.00 10.13 10.53
TOTAL 943 938,862.00 96.26 100.00
TOTAL ASSETS 976,121.00 100.07
NET ASSETS 975,550 100.00
546
Percentage to
category

AUTO 47 45,571 9.43 9.81
CEMENT 92 91,532 18.94 19.70

FINANCE 114,057 185,034 38.26 39.83


Vedanta Limited* 33 32,427 6.71 6.98
POWER 46 45,644 9.44 9.82

RETAILING 41 43,008 8.90 9.26

TRADING 22 21,411 4.43 4.60

TOTAL 114,338 464,627 96.11 100.00
NET ASSETS 483,493 100.00
547
Percentage to
category

AUTO 203 196,826 5.53 5.75
CEMENT 518 514,805 14.46 15.04

FINANCE 750,500 1,366,939 38.40 39.94


Vedanta Limited* 235 230,920 6.49 6.75
POWER 334 331,413 9.31 9.68

RETAILING 309 324,134 9.11 9.47


TRADING 163 158,638 4.46 4.63

TOTAL 752,562 3,423,000 96.17 100.00
TOTAL ASSETS 3,563,027 100.10
NET ASSETS 3,559,444 100.00
548
Details of investment portfolio and industry wise classification of the Scheme’s investments in each category of investments
at March 31, 2019 are presented below. The industry and company exposures are stated as a percentage of the Scheme’s net
assets
Percentage to
category

CONSTRUCTION 20 20,084 8.84 9.17

FINANCE 124 128,382 56.53 58.64

LIC Housing Finance Limited 21 22,127 9.74 10.11
REC Limited* 21 20,726 9.13 9.47
Bajaj Housing Finance Limited* 19 20,276 8.93 9.26
POWER 39 29,474 12.97 13.47

NHPC Limited* 10 1,029 0.45 0.47

FINANCE 21 20,753 9.14 9.48
TOTAL 223 218,926 96.39 100.00
TOTAL ASSETS 227,216.00 100.06
NET ASSETS 227,070.00 100.00
549
Percentage to
category

FINANCE 192 198,771 72.88 79.97

REC Limited* 26 26,428 9.69 10.63
POWER 27 26,374 9.67 10.61

TOTAL 241 248,572 91.14 100.00

8.75% Kerala SDL (MD 22/02/2022) 200,000 20,703 7.59 100.00
TOTAL 200,000.00 20,703.00 7.59 100.00
NET ASSETS 272,698 100.00
550
Percentage to
category

CONSTRUCTION 10 9,934 3.08 3.45

FINANCE 178 182,092 56.43 63.17

REC Limited* 24 24,395 7.56 8.46
Kotak Mahindra Investments Limited* 10 7,809 2.42 2.71
POWER 370 64,293 19.92 22.3

Bhopal Dhule Transmission Company Limited* 30 29,304.00 9.08 10.16
NHPC Limited* 340 34,989 10.84 12.14
TOTAL 588 288,265 89.33 100.00

8.75% Kerala SDL (MD 22/02/2022) 300,000 31,055 9.62 100.00
TOTAL 300,000 31,055 9.62 100.00
NET ASSETS 322,733 100.00
551
Percentage to
category

CONSTRUCTION 45 44,705 5.02 9.77
FINANCE 356 363,419 40.78 79.39

REC Limited 40 40,389 4.53 8.82
POWER 50 49,682 5.57 10.84

TOTAL 451 457,806 51.37 100.00
NET ASSETS 891,360 100.00
552
Attachment 1
Disclosure under Regulation 25 (11) of SEBI (Mutual Fund) Regulations, 1996
Investments made by the schemes of Axis Mutual Fund in Companies or their subsidiaries that have invested more than 5% of the net assets of any scheme
Company invested in the scheme Investment made by the scheme in the company
(A) (B) Investments made by the Schemes of Axis Mutual Fund in the Aggregate cost of Outstanding as on
Companies which had invested more than 5% of the net assets of Schemes in which companies (Refer "A") had invested Company or its subsidiary acquisition during March 31, 2019
the schemes (Refer "B") more than 5% of the net assets current year and (Rupees in '000)
previous year
(Rupees in '000)
AXIS FINANCE LIMITED AXIS OVERNIGHT FUND AXIS HYBRID FUND SERIES-29 (1275 DAYS) - 111,343.63
AXIS HYBRID FUND SERIES-30 (1297 DAYS) - 136,843.19
AXIS SHORT TERM FUND - 13,021.59
BAJAJ AUTO LIMITED AXIS FIXED TERM PLAN - SERIES 49 AXIS ARBITRAGE FUND 182,107.98 -
AXIS FIXED TERM PLAN - SERIES 52 AXIS BLUECHIP FUND 212,523.75 -
AXIS FIXED TERM PLAN - SERIES 95 (1185 DAYS) AXIS CAPITAL BUILDER FUND - SERIES 1 (1540 DAYS) 57,474.40 -
AXIS CHILDREN'S GIFT FUND 58,724.95 -
AXIS DYNAMIC EQUITY FUND 142,735.67 -
AXIS EQUITY SAVER FUND 60,454.99 -
AXIS NIFTY ETF 2,298.37 620.06
AXIS TRIPLE ADVANTAGE FUND 44,044.83 -
BAMNIPAL STEEL LIMITED AXIS LIQUID FUND 4,923,980.00 -
(SUBSIDIARY TO TATA STEEL LIMITED)
BHARAT ALUMINIUM COMPANY LIMITED AXIS LIQUID FUND 2,066,991.50 -

(SUBSIDIARY TO VEDANTA LIMITED)
CENTRAL DEPOSITORY SERVICES (INDIA) LIMITED AXIS FIXED TERM PLAN - SERIES 102 (1133 DAYS) AXIS CHILDREN'S GIFT FUND 1,041.66 -
AXIS EQUITY ADVANTAGE FUND - SERIES 1 8,047.49 -
AXIS FOCUSED 25 FUND 248,390.14 -
AXIS MIDCAP FUND 50,004.40 -
AXIS REGULAR SAVER FUND 4,544.50 -
CESC LIMITED AXIS FIXED TERM PLAN - SERIES 92 (154 DAYS) AXIS ARBITRAGE FUND 248,974.63 -
AXIS LIQUID FUND 15,803,901.35 3,952,215.00
AXIS LONG TERM EQUITY FUND 1,998,642.00 -
CUMMINS INDIA LIMITED AXIS FIXED TERM PLAN - SERIES 93 (91 DAYS) AXIS ARBITRAGE FUND 606,981.20 -
AXIS CHILDREN'S GIFT FUND 55,011.82 47,128.55
AXIS DYNAMIC EQUITY FUND 978,134.28 115,060.80
AXIS EMERGING OPPORTUNITIES FUND – SERIES 1 (1400 DAYS) 239,171.05 176,056.00
AXIS EQUITY SAVER FUND 70,254.98 67,140.00
AXIS FOCUSED 25 FUND 2,819,860.99 2,200,063.66
AXIS GROWTH OPPORTUNITIES FUND 234,385.87 218,951.00
AXIS LONG TERM EQUITY FUND 4,520,913.82 3,333,052.65
AXIS MIDCAP FUND 471,217.93 370,016.00
AXIS REGULAR SAVER FUND 15,717.66 11,480.94
AXIS TRIPLE ADVANTAGE FUND 35,364.41 30,296.55
DEWAN HOUSING FINANCE CORPORATION LIMITED AXIS STRATEGIC BOND FUND AXIS ARBITRAGE FUND 2,316,280.50 247,399.65
AXIS TREASURY ADVANTAGE FUND AXIS BANKING & PSU DEBT FUND 161,040.64 -
AXIS CORPORATE DEBT FUND 245,587.49 147,675.75
AXIS CREDIT RISK FUND 908,163.18 787,643.00
AXIS DYNAMIC EQUITY FUND 1,495,226.27 428,686.65
AXIS EQUITY HYBRID FUND 257,017.69 243,009.25
AXIS FIXED TERM PLAN - SERIES 49 12,345.72 -
AXIS FIXED TERM PLAN - SERIES 52 3,785.36 -
AXIS FIXED TERM PLAN - SERIES 92 (154 DAYS) 242,379.40 -
AXIS FIXED TERM PLAN - SERIES 96 (1124 DAYS) 45,288.63 42,414.67
AXIS FOCUSED 25 FUND 5,945,442.20 -
AXIS HYBRID FUND SERIES-24 (1276 DAYS) 352,489.25 -
AXIS HYBRID FUND SERIES-33 (1358 DAYS) 353,095.54 329,707.29
AXIS LIQUID FUND 74,575,918.95 -
AXIS MULTICAP FUND 1,029,347.85 185,677.40
AXIS SHORT TERM FUND 1,636,952.93 1,086,920.96
AXIS STRATEGIC BOND FUND 1,144,379.65 418,952.79
AXIS TREASURY ADVANTAGE FUND 860,142.97 1,039,078.53
AXIS ULTRA SHORT TERM FUND 235,664.25 247,399.65
553
Attachment 1
previous year
(Rupees in '000)
DR. REDDY'S LABORATORIES LIMITED AXIS TREASURY ADVANTAGE FUND AXIS ARBITRAGE FUND 355,393.47 -
AXIS BLUECHIP FUND 255,331.09 -
EAST WEST PIPELINE LIMITED AXIS TREASURY ADVANTAGE FUND AXIS SHORT TERM FUND 166,953.72 -
AXIS STRATEGIC BOND FUND 55,230.52 -
ECL FINANCE LIMITED AXIS OVERNIGHT FUND AXIS ARBITRAGE FUND 597,148.30 -
AXIS CREDIT RISK FUND - 344,747.90
AXIS LONG TERM EQUITY FUND 899,839.80 -
AXIS SHORT TERM FUND 49,743.10 -
AXIS STRATEGIC BOND FUND - 49,249.70
GODFREY PHILLIPS INDIA LIMITED AXIS DYNAMIC BOND FUND AXIS ARBITRAGE FUND 35,758.16 -
AXIS FIXED TERM PLAN - SERIES 96 (1124 DAYS) AXIS EQUITY SAVER FUND 1,709.58 -
HERO MOTOCORP LIMITED AXIS ARBITRAGE FUND AXIS ARBITRAGE FUND 688,618.03 -
AXIS EQUITY HYBRID FUND 209,084.45 -
AXIS MULTICAP FUND 229,632.14 -
HINDALCO INDUSTRIES LIMITED AXIS FIXED TERM PLAN - SERIES 92 (154 DAYS) AXIS ARBITRAGE FUND 329,596.43 -
AXIS EQUITY SAVER FUND 781.09 719.25
AXIS STRATEGIC BOND FUND - 20,465.20
AXIS TRIPLE ADVANTAGE FUND - 5,116.30
HINDUSTAN ZINC LIMITED AXIS FIXED TERM PLAN - SERIES 49 AXIS ARBITRAGE FUND 37,049.14 -
(SUBSIDIARY TO VEDANTA LIMITED) AXIS LIQUID FUND 2,443,837.75 -
AXIS SHORT TERM FUND 1,997,718.00 -
AXIS TREASURY ADVANTAGE FUND 544,827.10 -
INDIABULLS COMMERCIAL CREDIT LIMITED AXIS LIQUID FUND 12,566,397.25 -

(SUBSIDIARY TO INDIABULLS HOUSING FINANCE LTD)
INDIABULLS HOUSING FINANCE LIMITED AXIS CORPORATE DEBT FUND AXIS ARBITRAGE FUND 5,372,802.64 246,366.25
AXIS OVERNIGHT FUND AXIS BANKING & PSU DEBT FUND 40,000.00 -
AXIS SHORT TERM FUND AXIS CAPITAL BUILDER FUND - SERIES 1 (1540 DAYS) 173,697.48 177,943.86
AXIS CAPITAL BUILDER FUND - SERIES 4 (1582 DAYS) 289,495.80 296,573.10
AXIS EQUITY ADVANTAGE FUND - SERIES 1 936,153.90 247,144.25
AXIS HYBRID FUND - SERIES 14 (1274 DAYS) 51,711.57 -
AXIS SHORT TERM FUND 3,639,613.15 953,472.35
AXIS STRATEGIC BOND FUND 825,002.26 387,937.55
554
Attachment 1
previous year
(Rupees in '000)
AXIS TREASURY ADVANTAGE FUND 3,672,906.09 319,215.04
AXIS ULTRA SHORT TERM FUND 246,943.25 -
INDIAN ENERGY EXCHANGE LIMITED AXIS FIXED TERM PLAN - SERIES 102 (1133 DAYS) AXIS SMALL CAP FUND 100,014.75 -
INDOSTAR CAPITAL FINANCE LIMITED AXIS OVERNIGHT FUND AXIS ARBITRAGE FUND 288,836.08 -
AXIS BANKING & PSU DEBT FUND 204,381.31 -
AXIS CORPORATE DEBT FUND 192,624.27 -
AXIS MULTICAP FUND 252,097.67 249,567.75
AXIS TREASURY ADVANTAGE FUND 1,867,018.58 -
INTERGLOBE AVIATION LIMITED AXIS TREASURY ADVANTAGE FUND AXIS BLUECHIP FUND 363,633.62 -
AXIS DYNAMIC EQUITY FUND 126,042.42 856.89
AXIS EMERGING OPPORTUNITIES FUND – SERIES 1 (1400 DAYS) 109,719.31 -
ITC LIMITED AXIS SHORT TERM FUND AXIS ARBITRAGE FUND 1,182,240.26 789,020.40
AXIS TREASURY ADVANTAGE FUND AXIS BLUECHIP FUND 703,077.67 -
AXIS DYNAMIC EQUITY FUND 1,065,983.86 1,132,165.80
AXIS NIFTY ETF 16,006.93 3,994.45
JAMNAGAR UTILITIES & POWER PRIVATE LIMITED AXIS TREASURY ADVANTAGE FUND AXIS BANKING & PSU DEBT FUND 202,298.46 193,148.30
JM FINANCIAL PRODUCTS LIMITED AXIS OVERNIGHT FUND AXIS ARBITRAGE FUND 958,967.77 -
AXIS BANKING & PSU DEBT FUND 200,858.47 -
AXIS DYNAMIC EQUITY FUND 1,328,776.77 -
AXIS LIQUID FUND 37,289,398.46 983,647.00
JUST DIAL LIMITED AXIS BANKING & PSU DEBT FUND AXIS ARBITRAGE FUND 26,662.18 -
555
Attachment 1
previous year
(Rupees in '000)
L&T FINANCE HOLDINGS LIMITED AXIS ARBITRAGE FUND 77,998.15 -
(SUBSIDIARY TO LARSEN & TOUBRO LIMITED) AXIS CHILDREN'S GIFT FUND 8,134.95 -
L&T FINANCE LIMITED AXIS ARBITRAGE FUND 717,514.92 37,329.75

(SUBSIDIARY TO LARSEN & TOUBRO LIMITED) AXIS BANKING & PSU DEBT FUND 102,249.46 -
AXIS EQUITY ADVANTAGE FUND - SERIES 1 1,048,477.10 -
AXIS HYBRID FUND - SERIES 5 (1346 DAYS) 7,565.43 7,465.95
AXIS LIQUID FUND 47,450,873.30 1,988,320.00
AXIS MULTICAP FUND 2,469,773.00 -
L & T INFRASTRUCTURE FINANCE COMPANY LIMITED AXIS ARBITRAGE FUND 405,542.27 -

(SUBSIDIARY TO LARSEN & TOUBRO LIMITED) AXIS BLUECHIP FUND 1,498,606.50 -
AXIS HYBRID FUND SERIES 18 (42 MONTHS) 106,387.66 -
L & T HOUSING FINANCE AXIS ARBITRAGE FUND 99,658.30 -

(SUBSIDIARY TO LARSEN & TOUBRO LIMITED) AXIS CAPITAL BUILDER FUND - SERIES 4 (1582 DAYS) 488,239.50 -
AXIS LIQUID FUND 4,400,178.40 1,932,377.85
AXIS SHORT TERM FUND 500,000.00 495,612.00
LARSEN & TOUBRO INFOTECH LIMITED AXIS FIXED TERM PLAN - SERIES 92 (154 DAYS) AXIS EMERGING OPPORTUNITIES FUND – SERIES 1 (1400 DAYS) 59,389.22 56,965.59
(SUBSIDIARY TO LARSEN & TOUBRO LIMITED) AXIS EMERGING OPPORTUNITIES FUND – SERIES 2 (1400 DAYS) 121,856.42 116,755.80
LARSEN & TOUBRO LIMITED AXIS BANKING & PSU DEBT FUND AXIS ARBITRAGE FUND 3,286,434.92 639,489.11
AXIS OVERNIGHT FUND AXIS BLUECHIP FUND 2,542,945.85 1,669,286.50
AXIS ULTRA SHORT TERM FUND AXIS CAPITAL BUILDER FUND - SERIES 4 (1582 DAYS) 160,014.45 155,292.13
MULTICAP
AXIS NIFTY ETF FUND 1,029,570.31
8,444.75 955,857.00
2,679.17
MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED AXIS ARBITRAGE FUND 2,115,524.81 264,303.00
(SUBSIDIARY TO MAHINDRA & MAHINDRA LIMITED) AXIS CAPITAL BUILDER FUND - SERIES 1 (1540 DAYS) 177,810.32 48,606.48
AXIS DYNAMIC BOND FUND 256,456.94 -
AXIS EMERGING OPPORTUNITIES FUND – SERIES 2 (1400 DAYS) 1,367,237.58 712,455.17
AXIS EQUITY HYBRID FUND 1,560,956.58 -
556
Attachment 1
previous year
(Rupees in '000)
AXIS LIQUID FUND 21,390,931.30 150,177.75
AXIS MIDCAP FUND 1,062,656.31 636,012.00
MAHINDRA & MAHINDRA LIMITED AXIS BANKING & PSU DEBT FUND AXIS ARBITRAGE FUND 2,068,921.68 41,781.80
AXIS BLUECHIP FUND 1,387,501.75 -
MAHINDRA RURAL HOUSING FINANCE AXIS ARBITRAGE FUND 52,121.28 -

(SUBSIDIARY TO MAHINDRA & MAHINDRA LIMITED) AXIS CORPORATE DEBT FUND 52,478.87 -
AXIS CREDIT RISK FUND 52,295.35 -
AXIS LIQUID FUND 8,310,867.80 1,974,208.00
AXIS SHORT TERM FUND 406,331.13 249,721.50
MARUTI SUZUKI INDIA LIMITED AXIS BANKING & PSU DEBT FUND AXIS ARBITRAGE FUND 2,026,961.42 6,505.74
AXIS SHORT TERM FUND AXIS BLUECHIP FUND 2,381,192.03 1,501,323.75
AXIS NIFTY ETF 5,797.55 1,387.89
NABHA POWER LIMITED AXIS LIQUID FUND 4,486,050.50 1,967,686.00

(SUBSIDIARY TO LARSEN & TOUBRO LIMITED)
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT AXIS LIQUID FUND AXIS ARBITRAGE FUND 2,972,477.95 93,990.60
AXIS BANKING & PSU DEBT FUND 6,801,874.53 4,829,819.20
AXIS CAPITAL PROTECTION ORIENTED FUND-SERIES 5 - 50,050.85
AXIS CORPORATE DEBT FUND 2,341,762.44 51,208.65
AXIS DYNAMIC BOND FUND 1,025,442.27 51,208.65
AXIS EQUITY ADVANTAGE FUND - SERIES 1 1,500,898.58 -
AXIS EQUITY HYBRID FUND 2,196,642.88 692,495.15
AXIS FIXED TERM PLAN – SERIES 64 5,050.52 10,010.17
557
Attachment 1
previous year
(Rupees in '000)
AXIS LIQUID FUND 194,154,374.30 14,189,644.10
AXIS MIDCAP FUND 1,329,417.85 -
AXIS TREASURY ADVANTAGE FUND 18,937,867.51 1,213,360.00
RELIANCE INDUSTRIES LIMITED AXIS BANKING & PSU DEBT FUND AXIS ARBITRAGE FUND 3,738,908.58 1,884,011.50
AXIS FIXED TERM PLAN - SERIES 95 (1185 DAYS) AXIS BANKING & PSU DEBT FUND 3,583,158.51 3,562,657.85
AXIS SHORT TERM FUND AXIS BLUECHIP FUND 3,968,349.98 1,567,737.50
AXIS DYNAMIC EQUITY FUND 2,283,127.28 1,582,382.89
AXIS EQUITY HYBRID FUND 1,013,148.20 906,979.77
AXIS LIQUID FUND 78,665,790.40 3,067,319.80
AXIS NIFTY ETF 14,292.80 7,309.75
RELIANCE JIO INFOCOMM LIMITED AXIS ARBITRAGE FUND 601,952.32 -

(SUBSIDIARY TO RELIANCE INDUSTRIES LIMITED) AXIS BLUECHIP FUND 74,049.92 -
AXIS CAPITAL PROTECTION ORIENTED FUND-SERIES 5 - 42,999.66
AXIS CORPORATE DEBT FUND 1,243,458.99 199,549.80
AXIS DYNAMIC BOND FUND 200,701.37 107,245.38
AXIS EQUITY HYBRID FUND 1,496,269.50 -
AXIS FIXED TERM PLAN – SERIES 64 10,199.77 9,999.92
AXIS LIQUID FUND 80,640,636.03 126,998.98
RELIANCE RETAIL LTD AXIS ARBITRAGE FUND AXIS ARBITRAGE FUND 49,870.90 -
(SUBSIDIARY TO RELIANCE INDUSTRIES LIMITED) AXIS CORPORATE DEBT FUND 246,528.00 -
AXIS LIQUID FUND 37,621,496.05 9,853,560.00
AXIS OVERNIGHT FUND 399,926.00 -
558
Attachment 1
previous year
(Rupees in '000)
SHREE CEMENT LIMITED AXIS ARBITRAGE FUND AXIS ARBITRAGE FUND 656,041.25 100,805.31
AXIS LIQUID FUND 991,188.00 -
SIKKA PORTS AND TERMINALS LIMITED AXIS FIXED TERM PLAN - SERIES 95 (1185 DAYS) AXIS SHORT TERM FUND 42,653.29 196,101.47
AXIS TREASURY ADVANTAGE FUND AXIS STRATEGIC BOND FUND - 85,665.38
SUN TV NETWORK LIMITED AXIS BANKING & PSU DEBT FUND AXIS ARBITRAGE FUND 82,700.13 -
AXIS FIXED TERM PLAN - SERIES 100 (1172 DAYS) AXIS EQUITY SAVER FUND 25,945.23 -
SUNDARAM BNP PARIBAS HOME FINANCE LIMITED AXIS ARBITRAGE FUND 377,246.80 -
(SUBSIDIARY TO SUNDARAM FINANCE HOLDINGS LIMITED) AXIS LIQUID FUND 2,463,347.00 990,028.00
SUNDARAM FINANCE HOLDINGS LIMITED AXIS FIXED TERM PLAN - SERIES 94 (177 DAYS) AXIS DYNAMIC EQUITY FUND - 21,222.53
AXIS EMERGING OPPORTUNITIES FUND – SERIES 1 (1400 DAYS) - 14,327.19
AXIS EMERGING OPPORTUNITIES FUND – SERIES 2 (1400 DAYS) - 29,040.85
AXIS EQUITY SAVER FUND - 5,560.89
AXIS LONG TERM EQUITY FUND - 206,096.78
AXIS SMALL CAP FUND 654.74 4,931.52
TALWANDI SABO POWER LIMITED AXIS ARBITRAGE FUND 49,628.80 -

(SUBSIDIARY TO VEDANTA LIMITED) AXIS CORPORATE DEBT FUND 147,258.90 -
AXIS LIQUID FUND 13,324,317.30 1,483,386.00
TATA CONSULTANCY SERVICES LIMITED AXIS LIQUID FUND AXIS ARBITRAGE FUND 3,179,390.20 292,240.90
AXIS BLUECHIP FUND 4,101,305.06 3,452,846.25
AXIS EQUITY HYBRID FUND 1,608,850.75 1,401,155.00
AXIS MULTICAP FUND 2,835,781.04 2,321,914.00
AXIS NIFTY ETF 7,748.37 3,294.72
TATA STEEL LIMITED AXIS LIQUID FUND AXIS ARBITRAGE FUND 760,831.23 -
559
Attachment 1
previous year
(Rupees in '000)
AXIS EMERGING OPPORTUNITIES FUND – SERIES 2 (1400 DAYS) 1,123,535.02 -
VEDANTA LIMITED AXIS SHORT TERM FUND AXIS ARBITRAGE FUND 1,917,971.35 -
AXIS LIQUID FUND 50,096,480.60 2,629,954.40
WIPRO LIMITED AXIS OVERNIGHT FUND AXIS ARBITRAGE FUND 1,858,226.79 609,073.92
AXIS TREASURY ADVANTAGE FUND AXIS BLUECHIP FUND 744,863.32 140,140.00
AXIS ULTRA SHORT TERM FUND AXIS CAPITAL BUILDER FUND - SERIES 4 (1582 DAYS) 208,056.15 -
YES BANK LIMITED AXIS OVERNIGHT FUND AXIS ARBITRAGE FUND 1,222,294.83 101,099.25
AXIS BANKING & PSU DEBT FUND 1,394,693.15 -
AXIS FIXED TERM PLAN – SERIES 74 (1105 DAYS) 9,966.69 -
AXIS HYBRID FUND SERIES 15 (1275 DAYS) 14,933.18 -
All the companies transacted herewith are financially sound companies with proven track record. Moreover fund management has undertaken a detailed research in each of these companies and has sought
relevant approval from the investment review committee. As a result, investments in all these companies are independent investment decisions and does not relate, in any manner, to their investment in MF's
schemes. The audited yearly financials together with the notes there to were approved by Board of Directors of Axis Asset Management Company Limited on May 27, 2019 and by Board of Directors of Axis
Mutual Fund Trustee Limited on May 28, 2019.
560
Attachment 2 - Interscheme transactions covered by Accounting Standard-18

Purchase and Sale of Investments between schemes
Rupees in '000
Year/Period Year/Period
Name of Related Party Nature of transactions ended ended
March 31, 2019 March 31, 2018
Axis Banking & PSU Debt Fund
Sale of investments 742,908 1,459,062
Axis Arbitrage Fund
Purchase of investments 273,751
Axis Capital Builder Fund - Series 1 (1540 days) Purchase of investments 352,247
Sale of investments 234,710 156,046
Axis Corporate Debt Fund
Sale of investments 308,653
Axis Credit Risk Fund
Purchase of investments 50,510 277,222
Axis Dynamic Equity Fund
Axis Emerging Opportunities Fund Series 2 Sale of investments 51,912
Axis Equity Advantage Fund- Series 1
Axis Equity Hybrid Fund Purchase of investments 451,618
Axis Equity Saver Fund Sale of investments 122,120
Axis Fixed Term Plan - Series 100 (1172 Days) Sale of investments 93,277
Axis Fixed Term Plan – Series 49 (437 Days) Sale of investments 63,822
Axis Focused 25 Fund Purchase of investments 250,617
Axis Hybrid Fund - Series 11 (42 Months) Sale of investments 358,411
Axis Hybrid Fund - Series 12 (1282 Days) Sale of investments 496,686
Axis Hybrid Fund - Series 18 (42 Months) Purchase of investments 9,574
Axis Hybrid Fund - Series 23 (1275 Days) Sale of investments 96,475 151,299
Axis Hybrid Fund Series-26 (1276 Days) Sale of investments 282,673 390,249
Axis Hybrid Fund Series-32 (1367 Days) Sale of investments 18,606
Axis Liquid Fund
Purchase of investments 2,999,043 3,081,245
Axis Multicap Fund
Axis Regular Saver Fund
Axis Short Term Fund
Axis Strategic Bond Fund
Purchase of investments 1,179,651
Sale of investments 1,825,364
Axis Long Term Equity Fund
Sale of investments 1,268,608 1,131,236
Axis Ultra Short Term Fund Purchase of investments 91,891
561

Rupees in '000
March 31, 2019 March 31, 2018
Axis Dynamic Bond Fund
Axis Arbitrage Fund Sale of investments 299,882
Axis Children's Gift Fund
Axis Corporate Debt Fund Sale of investments 53,596
Axis Credit Risk Fund Sale of investments 20,272 523,322
Axis Equity Saver Fund
Axis Gilt Fund
Axis Multicap Fund
Axis Regular Saver Fund Sale of investments 255,067
Axis Treasury Advantage Fund Sale of investments 46,769
Axis Triple Advantage Fund Purchase of investments 10,281
Axis Ultra Short Term Fund Sale of investments 100,909
Axis Liquid Fund

Axis Arbitrage Fund
Axis Bluechip Fund
Purchase of investments 4,089,493 249,378
Axis Capital Builder Fund - Series 1 (1540 days) Sale of investments 2,998,998
Axis Capital Builder Fund - Series 4 (1582 days)
Axis Emerging Opportunities Fund Series 2
Purchase of investments 491,341 2,480,751
Axis Equity Advantage Fund- Series 1 Sale of investments 7,642,525
Axis Equity Hybrid Fund
Axis Fixed Term Plan – Series 49 (437) Days Sale of investments 249,683
Axis Fixed Term Plan - Series 93 (91 Days) Sale of investments 1,361,079
562

Rupees in '000
March 31, 2019 March 31, 2018
Axis Focused 25 Fund
Axis Gilt Fund Purchase of investments 98,742
Axis Hybrid Fund - Series 11 (42 Months) Sale of investments 2,985,607
Axis Hybrid Fund - Series 12 (1282 Days) Sale of investments 3,787,340
Axis Hybrid Fund - Series 18 (42 Months) Sale of investments 1,140,306
Axis Hybrid Fund - Series 24 (1276 Days) Sale of investments 2,898,967 363,666
Axis Hybrid Fund - Series 8 (1279 days) Sale of investments 1,172,134
Axis Hybrid Fund Series-26 (1276 Days) Purchase of investments 43,229
Axis Midcap Fund
Axis Multicap Fund
Axis Strategic Bond Fund Sale of investments 197,380
Axis Ultra Short Term Fund

Axis Arbitrage Fund
Axis Bluechip Fund
Axis Capital Protection Oriented Fund-Series 5 Sale of investments 7,253
563

Rupees in '000
March 31, 2019 March 31, 2018
Axis Focused 25 Fund Sale of investments 1,288,771
Axis Gilt Fund
Axis Hybrid Fund Series-27 (1351 Days)
Axis Liquid Fund
Axis Midcap Fund
Axis Multicap Fund
564

Rupees in '000
March 31, 2019 March 31, 2018
Axis Triple Advantage Fund

Axis Arbitrage Fund
Axis Children's Gift Fund Sale of investments 154,517 42,916
Sale of investments 1,147,862 990,126
Axis Emerging Opportunities Fund Series 1 Purchase of investments 53,640
Axis Equity Advantage Fund- Series 1 Purchase of investments 20,088
Axis Equity Hybrid Fund Sale of investments 1,000,041
Axis Focused 25 Fund Sale of investments 251,774
Axis Liquid Fund Purchase of investments 197,380
Axis Midcap Fund
Axis Multicap Fund
Axis Triple Advantage Fund Purchase of investments 30,662 55,231
565

Rupees in '000
March 31, 2019 March 31, 2018
Axis Arbitrage Fund
Axis Bluechip Fund Sale of investments 499,586
Axis Children's Gift Fund Sale of investments 149,892 49,859
Axis Dynamic Bond Fund Purchase of investments 46,769
Axis Emerging Opportunities Fund Series 2 Purchase of investments 335,340 71,211
Axis Hybrid Fund - Series 18 (42 Months) Sale of investments 147,244 108,092
Axis Liquid Fund
Axis Midcap Fund Sale of investments 1,022,485
Axis Multicap Fund
566

Rupees in '000
March 31, 2019 March 31, 2018
567

Rupees in '000
March 31, 2019 March 31, 2018
Axis Arbitrage Fund
Axis Capital Builder Fund - Series 1 (1540 days) Sale of investments 101,659
Axis Equity Advantage Fund- Series 2 Sale of investments 94,461
Axis Liquid Fund
Axis Multicap Fund
Axis Long Term Equity Fund Sale of investments 148,424
Axis Triple Advantage Fund Sale of investments 74,658

Axis Arbitrage Fund
Axis Bluechip Fund Purchase of investments 258,249
568

Rupees in '000
March 31, 2019 March 31, 2018
Axis Dynamic Bond Fund Purchase of investments 20,272 523,322
Axis Hybrid Fund - Series 24 (1276 Days) Purchase of investments 12,047
Axis Liquid Fund
Axis Multicap Fund
569

Rupees in '000
March 31, 2019 March 31, 2018
Axis Gilt Fund
Axis Credit Risk Fund Sale of investments 34,862
Axis Liquid Fund Sale of investments 98,742

Axis Arbitrage Fund
Axis Children's Gift Fund Sale of investments 37,973
Axis Hybrid Fund - Series 8 (1279 days) Sale of investments 54,109
Axis Liquid Fund

Axis Arbitrage Fund
Axis Banking & PSU Debt Fund Sale of investments 91,891
Axis Corporate Debt Fund Purchase of investments 411,803
Axis Dynamic Equity Fund Purchase of investments 130,403
Axis Equity Hybrid Fund Sale of investments 150,396
570

Rupees in '000
March 31, 2019 March 31, 2018
Axis Liquid Fund
Axis Midcap Fund Purchase of investments 151,756
571

Rupees in '000
March 31, 2019 March 31, 2018
Axis Arbitrage Fund
Axis Bluechip Fund
Axis Equity Advantage Fund- Series 1 Purchase of investments 47,296 49,887
Axis Equity Saver Fund Purchase of investments 49,743 148,046
Axis Liquid Fund
Axis Multicap Fund
Axis Long Term Equity Fund Sale of investments 236,350 199,594
Axis Bluechip Fund

Axis Arbitrage Fund
Axis Liquid Fund
Axis Midcap Fund Sale of investments 312,622
Axis Regular Saver Fund Purchase of investments 99,751
Axis Long Term Equity Fund Purchase of investments 772,603
Axis Treasury Advantage Fund Purchase of investments 499,586
572

Rupees in '000
March 31, 2019 March 31, 2018
Axis Capital Builder Fund - Series 1 (1540 days) Sale of investments 245,639
Axis Equity Saver Fund Purchase of investments 168,225
Axis Fixed Term Plan – Series 67 (1218 Days) Purchase of investments 577,948
Axis Fixed Term Plan - Series 92 (154 Days) Purchase of investments 227,515
Axis Liquid Fund
Axis Multicap Fund Purchase of investments 268,485
Axis Long Term Equity Fund Purchase of investments 1,114,787
Axis Focused 25 Fund

Axis Arbitrage Fund Purchase of investments 476,202
Axis Liquid Fund
Axis Short Term Fund Purchase of investments 1,288,771
Axis Strategic Bond Fund Purchase of investments 251,774

Axis Arbitrage Fund Purchase of investments 236,350 199,594
Axis Credit Risk Fund Purchase of investments 48,612
Axis Dynamic Equity Fund Sale of investments 1,114,787
573

Rupees in '000
March 31, 2019 March 31, 2018
Axis Liquid Fund
Axis Midcap Fund

Axis Bluechip Fund Purchase of investments 312,622
Axis Liquid Fund
Axis Treasury Advantage Fund Purchase of investments 1,022,485
Axis Multicap Fund

Axis Arbitrage Fund
Axis Dynamic Equity Fund Sale of investments 268,485
Axis Liquid Fund
574

Rupees in '000
Year ended Year/Period ended
March 31, 2019 March 31, 2018
Axis Liquid Fund Purchase of investments 2,998,998
Axis Emerging Opportunities Fund – Series 1 (1400 Days)

Axis Emerging Opportunities Fund – Series 2 (1400 Days)

Axis Banking & PSU Debt Fund Purchase of investments 51,912
Axis Children's Gift Fund Sale of investments 41,054
Axis Equity Advantage Fund- Series 1 Sale of investments 256,331
Axis Liquid Fund
Axis Treasury Advantage Fund Sale of investments 335,340 71,211
Axis Equity Advantage Fund - Series 1

Axis Arbitrage Fund Sale of investments 47,296 49,887
575

Rupees in '000
Year ended Year/Period ended
March 31, 2019 March 31, 2018

Axis Arbitrage Fund Sale of investments 49,743 148,046
Axis Capital Protection Oriented Fund-Series 5 Sale of investments 6,817
576

Rupees in '000
Year/Period
Name of Related Party Nature of transactions ended Year ended
March 31, 2019 March 31, 2018
Axis Liquid Fund

Axis Strategic Bond Fund Purchase of investments 154,517 42,916
Axis Treasury Advantage Fund Purchase of investments 149,892 49,859

Axis Liquid Fund
Axis Strategic Bond Fund Purchase of investments 1,000,041

Axis Dynamic Bond Fund Sale of investments 10,281
Axis Strategic Bond Fund Sale of investments 30,662 55,231
577

Rupees in '000
March 31, 2019 March 31, 2018
Axis Capital Protection Oriented Fund - Series 5
Axis Short Term Fund Purchase of investments 7,253

Axis Short Term Fund Purchase of investments 10,789 27,768



Axis Midcap Fund Purchase of investments 251,587

578

Rupees in '000
Name of Related Party Nature of transactions Year ended Year ended

March 31, 2019 March 31, 2018

Axis Short Term Fund Sale of investments 10,665

Axis Credit Risk Fund Purchase of investments 19,964 10,284
Axis Regular Saver Fund Purchase of investments 10,322 10,822



Axis Children's Gift Fund Purchase of investments 49,947
579

Rupees in '000
Year/Period
Name of Related Party Nature of transactions ended Year ended
March 31, 2019 March 31, 2018
Axis Fixed Term Plan - Series 100 (1172 days)
Axis Fixed Term Plan - Series 101 (1154 days)



Axis Fixed Term Plan – Series 64




580

Rupees in '000
Year/Period
Name of Related Party Nature of transactions Period ended ended
March 31, 2019 March 31, 2018
Axis Corporate Debt Fund Purchase of investments 144,569 41,083
Axis Hybrid Fund Series 18 (42 Months)

Axis Arbitrage Fund Purchase of investments 106,388 106,591
Axis Regular Saver Fund Purchase of investments 43,432 63,453
Axis Hybrid Fund Series 19 (42 Months)


Axis Banking & PSU Debt Fund Purchase of investments 96,475 151,299

Axis Children's Gift Fund Purchase of investments 41,141
Axis Hybrid Fund Series-28 (1331 Days) Purchase of investments 277,606 21,390
Axis Liquid Fund Purchase of investments 2,898,967 363,666
581

Rupees in '000
Year/Period
Name of Related Party Nature of transactions Period ended ended
March 31, 2019 March 31, 2018
Axis Liquid Fund

582

Rupees in '000
Period ended Year ended
March 31, 2019 March 31, 2018
Axis Fixed Term Plan - Series 49
Axis Fixed Term Plan - Series 52

Axis Fixed Term Plan – Series 74 (1105 days)




583
Attachment -3 Derivative disclosure (F.Y. 2018-19)
AXIS HYBRID FUND - SERIES 19 (42 MONTHS)
A. Hedging Positions through Futures as on August 01, 2018

Current price of the Margin maintained in Rs.
Underlying Long / Short Futures Price when purchased
contract Lakhs
NIL
Total percentage of existing assets hedged through futures : NIL
For the period ended August 01, 2018 following details specified for hedging transactions through futures which have been squared off/expired:
Total Number of contracts where futures were bought : NIL

Total Number of contracts where futures were sold : NIL
Gross Notional Value of contracts where futures were bought : Rs. NIL
Gross Notional Value of contracts where futures were sold : Rs. NIL
Net Profit/(Loss) value on all contracts combined : Rs. NIL
B. Other than Hedging Positions through Futures as on August 01, 2018

contract Lakhs
NIL
Total exposure due to futures (non hedging positions) as a percentage of net assets : NIL
For the period ended August 01, 2018 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on August 01, 2018
Underlying Number of Contracts Option Price when purchased Current Option Price
NIL
Total % age of existing assets hedged through put options - NIL
For the period ended August 01, 2018 following details specified for hedging transactions through options which have already been exercised/expired :
Total Number of contracts entered into : NIL

Gross Notional value of contracts : Rs. NIL
Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. NIL
D. Other than Hedging Positions through Options as on August 01, 2018

Option Price when
Underlying Call / put Number of contracts Current Price
purchased
NIL
Total Exposure through options as a percentage of net assets : NIL
For the period ended August 01, 2018 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :
Total Number of contracts entered into : 5,250

Gross Notional Value of contracts : Rs. 4,797.96 Lakhs
Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. (517.25) Lakhs
E. Hedging Positions through swaps as on August 01, 2018 - NIL
584
A. Hedging Positions through Futures as on July 19, 2018

contract Lakhs
NIL
For the period ended July 19, 2018 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on July 19, 2018

contract Lakhs
NIL
For the period ended July 19, 2018 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on July 19, 2018
NIL
For the period ended July 19, 2018 following details specified for hedging transactions through options which have already been exercised/expired :

D. Other than Hedging Positions through Options as on July 19, 2018

Option Price when
purchased
NIL
For the period ended July 19, 2018 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. 206.82 Lakhs
E. Hedging Positions through swaps as on July 19, 2018 - NIL
585
A. Hedging Positions through Futures as on March 31, 2019

contract Lakhs
NIL
For the period ended March 31, 2019 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on March 31, 2019

contract Lakhs
NIL
For the period ended March 31, 2019 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on March 31, 2019
NIL
For the period ended March 31, 2019 following details specified for hedging transactions through options which have already been exercised/expired :

Net Profit/(Loss) on all contracts (premium paid treated as (Loss)) : Rs. NIL
D. Other than Hedging Positions through Options as on March 31, 2019

Option Price when
purchased
AXISCP1 Nifty 50 Index 10500 Put December 2021 Option PUT 950 663.6316 77.35
Total Exposure through options as a percentage of net assets : 0.12%
For the period ended March 31, 2019 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

E. Hedging Positions through swaps as on March 31, 2019 - NIL
586

contract Lakhs
NIL
Total Number of contracts where futures were bought : 759

Total Number of contracts where futures were sold : 328
Gross Notional Value of contracts where futures were bought : Rs. 4,872.78 Lakhs
Gross Notional Value of contracts where futures were sold : Rs. 2,532.09 Lakhs
Net Profit/(Loss) value on all contracts combined : Rs. 100.74 Lakhs

contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

Gross Notional Value of contracts : Rs. NIL
587

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1
Nifty 50 Index 8200 Call June 2019 Option Call 515 1,817.7584 3,580.5000

588

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1 NIL

589

contract Lakhs
ACC Limited 2019 Future Short 1,581.65 1,670.95 20.07
Adani Power Limited 2019 Future Short 48.31 49.10 55.61
Arvind Limited 2019 Future Short 89.66 91.60 23.13
Dish TV India Limited 2019 Future Short 36.70 39.25 27.30
Asian Paints Limited 2019 Future Short 1,482.36 1,501.50 381.15
Aurobindo Pharma Limited 2019 Future Short 782.88 790.80 445.44
Bajaj Finance Limited 2019 Future Short 2,969.20 3,046.45 527.26
Bajaj Finserv Limited 2019 Future Short 6,997.26 7,079.60 101.39
Bharat Forge Limited 2019 Future Short 498.26 516.45 70.93
Bharti Infratel Limited 2019 Future Short 319.50 315.20 1.11
Biocon Limited 2019 Future Short 617.62 615.75 20.48
Bank of Baroda 2019 Future Short 121.57 129.65 701.74
Reliance Infrastructure Limited 2019 Future Short 132.15 138.35 49.28
Bharti Airtel Limited 2019 Future Short 333.35 335.20 16.39
Canara Bank 2019 Future Short 270.75 293.80 8.71
Century Textiles & Industries Limited 2019 Future Short 917.07 940.30 122.20
Cadila Healthcare Limited 2019 Future Short 334.87 349.40 152.68
Exide Industries Limited 2019 Future Short 226.85 220.65 0.78
CG Power and Industrial Solutions Limited 2019 Future Short 42.98 43.10 26.79
Dabur India Limited 2019 Future Short 425.99 412.25 87.08
Divi's Laboratories Limited 2019 Future Short 1,708.70 1,716.70 88.26
DLF Limited 2019 Future Short 198.45 202.85 4.47
Dr. Reddy's Laboratories Limited 2019 Future Short 2,792.96 2,796.15 27.11
Equitas Holdings Limited 2019 Future Short 130.55 137.85 38.63
The Federal Bank Limited 2019 Future Short 91.24 97.05 49.08
TV18 Broadcast Limited 2019 Future Short 35.71 35.75 8.19
Godrej Consumer Products Limited 2019 Future Short 696.75 689.10 2.19
Glenmark Pharmaceuticals Limited 2019 Future Short 651.70 652.65 37.91
Grasim Industries Limited 2019 Future Short 821.24 863.10 46.78
Havells India Limited 2019 Future Short 744.09 777.25 68.50
HCL Technologies Limited 2019 Future Short 1,022.82 1,094.70 112.07
Housing Development Finance Corporation Limited 2019 Future Short 1,961.85 1,976.60 599.91
Hindalco Industries Limited 2019 Future Short 206.97 207.10 24.25
Hindustan Unilever Limited 2019 Future Short 1,701.99 1,714.70 239.58
ICICI Bank Limited 2019 Future Short 393.52 400.50 99.36
The India Cements Limited 2019 Future Short 97.50 109.05 5.55
IDFC Limited 2019 Future Short 45.20 46.85 7.70
Oracle Financial Services Software Limited 2019 Future Short 3,404.96 3,417.60 4.51
InterGlobe Aviation Limited 2019 Future Short 1,398.20 1,440.30 1.71
Infosys Limited 2019 Future Short 735.34 747.25 670.75
ITC Limited 2019 Future Short 296.47 299.00 2,007.59
Jindal Steel & Power Limited 2019 Future Short 163.78 181.15 9.49
JSW Steel Limited 2019 Future Short 289.63 294.90 45.21
Kajaria Ceramics Limited 2019 Future Short 563.70 595.50 8.17
Kotak Mahindra Bank Limited 2019 Future Short 1,348.59 1,342.60 505.49
The Karnataka Bank Limited 2019 Future Short 129.43 134.60 10.04
LIC Housing Finance Limited 2019 Future Short 532.38 536.75 63.39
Lupin Limited 2019 Future Short 735.35 745.70 60.65
Mahindra & Mahindra Limited 2019 Future Short 670.01 677.40 74.07
Marico Limited 2019 Future Short 334.14 348.20 11.18
Maruti Suzuki India Limited 2019 Future Short 6,603.81 6,719.40 715.56
The Ramco Cements Limited 2019 Future Short 719.25 741.05 18.80
United Spirits Limited 2019 Future Short 559.46 557.00 250.44
MindTree Limited 2019 Future Short 952.05 952.45 21.12
Mahindra & Mahindra Financial Services Limited 2019 Future Short 414.98 424.55 60.73
MRF Limited 2019 Future Short 57,505.05 58,282.50 18.50
Adani Ports and Special Economic Zone Limited 2019 Future Short 362.31 380.05 50.26
Nestle India Limited 2019 Future Short 10,641.22 11,044.75 77.80
NIIT Technologies Limited 2019 Future Short 1,335.19 1,337.45 84.73
Punjab National Bank 2019 Future Short 94.65 96.25 79.10
PVR Limited 2019 Future Short 1,577.15 1,658.75 11.69
Raymond Limited 2019 Future Short 816.40 817.15 2.13
Reliance Industries Limited 2019 Future Short 1,356.69 1,372.60 1,606.91
State Bank of India 2019 Future Short 302.74 322.05 475.74
590

contract Lakhs
UPL Limited 2019 Future Short 914.35 962.35 189.57
Shree Cement Limited 2019 Future Short 17,935.65 18,716.90 49.59
Shriram Transport Finance Company Limited 2019 Future Short 1,199.30 1,281.90 32.59
Sun Pharmaceutical Industries Limited 2019 Future Short 472.85 481.70 118.63
Strides Pharma Science Limited 2019 Future Short 444.11 476.35 18.45
Syndicate Bank 2019 Future Short 40.93 43.55 109.33
Tata Elxsi Limited 2019 Future Short 975.75 971.30 10.94
Tata Consultancy Services Limited 2019 Future Short 1,992.07 2,014.60 251.17
Tata Motors Limited 2019 Future Short 179.44 175.65 8.07
Tata Steel Limited 2019 Future Short 517.18 524.95 44.14
Tata Power Company Limited 2019 Future Short 72.40 74.35 21.22
Tata Global Beverages Limited 2019 Future Short 200.15 204.90 13.83
Titan Company Limited 2019 Future Short 1,110.14 1,145.05 225.99
United Breweries Limited 2019 Future Short 1,390.60 1,405.90 46.78
Wockhardt Limited 2019 Future Short 428.26 446.70 112.72
Yes Bank Limited 2019 Future Short 250.97 276.95 1,841.10
Total percentage of existing assets hedged through futures : 31.88%

Total Number of contracts where futures were bought : 1,12,799

Total Number of contracts where futures were sold : 1,02,720
Gross Notional Value of contracts where futures were bought : Rs. 7,07,436.53 Lakhs
Gross Notional Value of contracts where futures were sold : Rs. 6,47,792.72 Lakhs
Net Profit/(Loss) value on all contracts combined : Rs. (235.03) Lakhs

contract Lakhs
NIL
Total Number of contracts where futures were bought : 1,644

Total Number of contracts where futures were sold : 1,644
Net Profit/(Loss) value on all contracts combined : Rs.(473.45) Lakhs
NIL


Option Price when
purchased
NIL

Gross Notional value of contracts : Rs. 65.13 Lakhs
591

contract Lakhs
NIL


contract Lakhs
NIL

Gross Notional Value of contracts where futures were sold : Rs.4,433.39 Lakhs
NIL


Option Price when
purchased
Nifty 50 Index 10000 Put June 2020 Option Put 1,000 585.0924 31.6500

592

contract Lakhs
NIL


contract Lakhs
NIL

Gross Notional Value of contracts where futures were bought : Rs. 311.47 Lakhs
Gross Notional Value of contracts where futures were sold : Rs. 316.72 Lakhs
NIL


Option Price when
purchased
Nifty 50 Index 10000 Put June 2020 Option Put 200 537.2685 31.6500
Nifty 50 Index 9900 Put June 2020 Option Put 400 562.7813 190.0000

593
AXIS ARBITRAGE FUND

contract Lakhs
Bajaj Finance Limited 2019 Future Short 2,970.38 3,046.45 1,945.37
Bajaj Finserv Limited 2019 Future Short 6,966.00 7,079.60 1.56
Divi's Laboratories Limited 2019 Future Short 1,694.03 1,716.70 645.61
Housing Development Finance Corporation Limited 2019 Future Short 1,958.72 1,976.60 3,491.34
Hindustan Unilever Limited 2019 Future Short 1,696.92 1,714.70 1,090.81
ITC Limited 2019 Future Short 296.28 299.00 1,399.12
Maruti Suzuki India Limited 2019 Future Short 6,593.18 6,719.40 11.54
United Spirits Limited 2019 Future Short 551.24 557.00 1,194.48
Nestle India Limited 2019 Future Short 10,773.10 11,044.75 128.37
Reliance Industries Limited 2019 Future Short 1,358.30 1,372.60 3,341.99
Shree Cement Limited 2019 Future Short 18,127.78 18,716.90 178.52
Sun Pharmaceutical Industries Limited 2019 Future Short 471.68 481.70 2,211.90
Tata Consultancy Services Limited 2019 Future Short 1,990.89 2,014.60 518.32
Tata Power Company Limited 2019 Future Short 72.52 74.35 37.72
Yes Bank Limited 2019 Future Short 264.11 276.95 329.33
Jain Irrigation Systems Limited 2019 Future Short 58.00 59.45 54.28
Larsen & Toubro Limited 2019 Future Short 1,386.40 1,391.50 1,133.33
Motherson Sumi Systems Limited 2019 Future Short 144.95 150.00 2,787.48
Page Industries Limited 2019 Future Short 24,797.38 24,985.95 477.22
Pidilite Industries Limited 2019 Future Short 1,232.51 1,250.55 1,166.79
Torrent Power Limited 2019 Future Short 255.16 258.90 232.84
Wipro Limited 2019 Future Short 257.04 256.95 1,081.09

Total Number of contracts where futures were bought : 3,20,114

Total Number of contracts where futures were sold : 2,76,908
Net Profit/(Loss) value on all contracts combined : Rs. 9,116.78 Lakhs

contract Lakhs
NIL

594
NIL


Option Price when
purchased
NIL

595

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

596

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

597
AXIS BLUECHIP FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

Net Profit/(Loss) on all contracts (premium paid treated as loss : Rs. NIL
598

contract Lakhs
Bajaj Finance Limited 2019 Future Short 2901.7 3,046.45 0.07
Dabur India Limited 2019 Future Short 422.7092 412.25 0.24
HCL Technologies Limited 2019 Future Short 1028.36 1,094.70 0.20
Housing Development Finance Corporation Limited 2019 Future Short 1961.8297 1,976.60 3.23
Hindalco Industries Limited 2019 Future Short 209.6 207.10 0.01
Hindustan Unilever Limited 2019 Future Short 1700.28 1,714.70 0.45
ITC Limited 2019 Future Short 296.2052 299.00 0.24
JSW Steel Limited 2019 Future Short 289.9089 294.90 0.22
Maruti Suzuki India Limited 2019 Future Short 6611.0267 6,719.40 3.58
United Spirits Limited 2019 Future Short 563.0923 557.00 0.16
Reliance Industries Limited 2019 Future Short 1355.0628 1,372.60 1.17
Tata Consultancy Services Limited 2019 Future Short 1992.5 2,014.60 0.03
Titan Company Limited 2019 Future Short 1111.7787 1,145.05 1.00
Yes Bank Limited 2019 Future Short 250.4508 276.95 15.54
Hexaware Technologies Limited 2019 Future Short 329.3375 347.25 0.07
Britannia Industries Limited 2019 Future Short 3113.4263 3,102.25 0.39
Can Fin Homes Limited 2019 Future Short 343.0928 351.35 0.09
Multi Commodity Exchange of India Limited 2019 Future Short 799.4333 813.60 0.06
Petronet LNG Limited 2019 Future Short 240.4 252.40 0.07
Suzlon Energy Limited 2019 Future Short 6.8 6.25 0.08
Tata Chemicals Limited 2019 Future Short 583.24 594.20 0.08



contract Lakhs
NIL

599
NIL


Option Price when
purchased
NIL

600

contract Lakhs
NIL


contract Lakhs
NIL

Net Profit/(Loss) value on all contracts combined : Rs. (1,107.04) Lakhs
NIL


Option Price when
purchased
NIL

601
A. Hedging Positions through Futures as on November 09, 2018

contract Lakhs
NIL
For the period ended November 09, 2018 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on November 09, 2018

contract Lakhs
NIL
For the period ended November 09, 2018 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on November 09, 2018
NIL
For the period ended November 09, 2018 following details specified for hedging transactions through options which have already been exercised/expired :

D. Other than Hedging Positions through Options as on November 09, 2018

Option Price when
purchased
NIL
For the period ended November 09, 2018 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

E. Hedging Positions through swaps as on November 09, 2018 - NIL
602

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL
For the period ended November 22, 2018 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

603
A. Hedging Positions through Futures as on December 13, 2018

contract Lakhs
NIL
For the period ended December 13, 2018 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on December 13, 2018

contract Lakhs
NIL
For the period ended December 13, 2018 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on December 13, 2018
NIL
For the period ended December 13, 2018 following details specified for hedging transactions through options which have already been exercised/expired :

D. Other than Hedging Positions through Options as on December 13, 2018

Option Price when
purchased
NIL
For the period ended December 13, 2018 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. 1,747.31 Lakhs
E. Hedging Positions through swaps as on December 13, 2018 - NIL
604
A. Hedging Positions through Futures as on February 22, 2019

contract Lakhs
NIL
For the period ended February 22, 2019 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on February 22, 2019

contract Lakhs
NIL
For the period ended February 22, 2019 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on February 22, 2019
NIL
For the period ended February 22, 2019 following details specified for hedging transactions through options which have already been exercised/expired :

D. Other than Hedging Positions through Options as on February 22, 2019

Option Price when
purchased
NIL
For the period ended February 22, 2019 following details specified with regard to non-hedging transactions through options which have already been exercised/expired :

E. Hedging Positions through swaps as on February 22, 2019 - NIL
605

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. 1,239.50 Lakhs
606

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased

607

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty 50 Index 7900 Call June 2019 Option Call 2,000 2,102.4525 3,874.8000

Total Number of contracts entered into : 500

608

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


609

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


610

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty 50 Index 8600 Call December 2019 Option Call 2,000 2,031.7974 3,125.0000
Nifty 50 Index 8700 Call December 2019 Option Call 400 2,034.2000 3,025.0000


611

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


612

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


613

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


614

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


615

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


616

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


617
AXIS REGULAR SAVER FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

Gross Notional Value of contracts : Rs. 45.10 Lakhs
618
AXIS MIDCAP FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

619
AXIS MULTICAP FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

620
AXIS NIFTY ETF

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

621
AXIS SMALL CAP FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

622
AXIS SHORT TERM FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

623

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

624
AXIS EQUITY HYBRID FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

625
AXIS GROWTH OPPORTUNITIES FUND

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

626

contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

627
Derivative Disclosure
contract Lakhs
Ashok Leyland Limited 2018 Future Short 144.8000 145.80 10.36
Dewan Housing Finance Corporation Limited 2018 Future Short 500.8536 513.25 25.20
Granules India Limited 2018 Future Short 105.4845 104.05 28.14
Housing Development and Infrastructure Limited 2018 Future Short 39.2000 38.80 3.80
ICICI Prudential Life Insurance Company Limited 2018 Future Short 380.9312 390.25 24.98
L&T Finance Holdings Limited 2018 Future Short 156.2136 157.80 9.87
Maruti Suzuki India Limited 2018 Future Short 8785.3545 8905.20 9.10
Reliance Capital Limited 2018 Future Short 416.9211 425.85 28.92
Tata Communications Limited 2018 Future Short 624.0131 623.75 11.85
Total %age of existing assets hedged through futures : 6.68%



contract Lakhs
NIL
Total exposure due to futures (non hedging positions) as a %age of net assets : NIL

NIL

Net Profit/(Loss) on all contracts (premium paid treated as ((Loss))) : Rs.
NIL

Option Price when
purchased
NIL
Total Exposure through options as a %age of net assets : NIL

628
contract Lakhs
NIL
Total %age of existing assets hedged through futures : NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty Index 8200 Call June 2019 Option Call 515 1,817.7584 2,676.0500
Total Exposure through options as a %age of net assets : 19.3%

629
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

630
AXIS ENHANCED ARBITRAGE FUND
contract Lakhs
Century Textiles & Industries Limited 2018 Future Short 1148.0793 1,146.35 713.36
Reliance Capital Limited 2018 Future Short 431.4663 425.85 118.73
Allahabad Bank 2018 Future Short 49.0183 48.65 23.41
Bharat Heavy Electricals Limited 2018 Future Short 81.962 81.80 79.08
Idea Cellular Limited 2018 Future Short 81.125 76.40 4.04
CEAT Limited 2018 Future Short 1468.325 1,510.55 30.00
Dr. Reddy's Laboratories Limited 2018 Future Short 2106.7611 2,093.00 89.29
Capital First Limited 2018 Future Short 632.0324 620.35 247.85
The Federal Bank Limited 2018 Future Short 91.8716 89.80 1,370.82
IDFC Bank Limited 2018 Future Short 48.58 47.70 113.37
Jet Airways (India) Limited 2018 Future Short 642.2785 612.45 10.28
Cummins India Limited 2018 Future Short 678.1804 682.45 808.29
Motherson Sumi Systems Limited 2018 Future Short 315.0093 312.30 671.42
Nestle India Limited 2018 Future Short 8135.7969 8,240.55 319.39
PTC India Limited 2018 Future Short 88.85 87.80 18.59
Reliance Industries Limited 2018 Future Short 889.1871 887.15 133.29
Shree Cements Limited 2018 Future Short 16183.7646 16,301.60 24.78
The South Indian Bank Limited 2018 Future Short 23.3 23.00 7.03
Sun Pharmaceutical Industries Limited 2018 Future Short 507.7461 497.45 1,319.22
Strides Shasun Limited 2018 Future Short 690.2925 673.85 13.74
Ajanta Pharma Limited 2018 Future Short 1411.0144 1,399.15 51.84
Andhra Bank 2018 Future Short 41.1167 41.85 6.02
Apollo Hospitals Enterprise Limited 2018 Future Short 1033.1 1,066.50 0.68
Arvind Limited 2018 Future Short 390.2737 385.45 18.35
Bajaj Finance Limited 2018 Future Short 1780.0196 1,778.45 650.38
Balrampur Chini Mills Limited 2018 Future Short 82.5932 76.25 144.16
Bajaj Auto Limited 2018 Future Short 2761.1999 2,760.75 161.80
BEML Limited 2018 Future Short 1071.025 1,049.30 85.02
Bank of India 2018 Future Short 106.3411 104.20 69.00
Bharat Petroleum Corporation Limited 2018 Future Short 424.2667 429.60 3.01
Reliance Infrastructure Limited 2018 Future Short 434.4433 427.75 25.62
CESC Limited 2018 Future Short 914.6761 969.65 233.63
Can Fin Homes Limited 2018 Future Short 502.3484 487.95 209.74
Castrol India Limited 2018 Future Short 201.2413 201.50 16.39
Divi's Laboratories Limited 2018 Future Short 1099.3439 1,096.90 44.97
631
AXIS ENHANCED ARBITRAGE FUND (Contd.)
contract Lakhs
Escorts Limited 2018 Future Short 822.0482 823.55 63.72
TV18 Broadcast Limited 2018 Future Short 68.8744 67.55 341.84
Godrej Consumer Products Limited 2018 Future Short 1089.1789 1,099.45 69.52
GMR Infrastructure Limited 2018 Future Short 17.5236 17.05 440.30
Godfrey Phillips India Limited 2018 Future Short 815.2897 825.90 40.10
Hindustan Petroleum Corporation Limited 2018 Future Short 347.1357 345.70 4.92
ICICI Bank Limited 2018 Future Short 279.6143 279.75 239.54
Indiabulls Housing Finance Limited 2018 Future Short 1215.5578 1,243.00 94.18
IDBI Bank Limited 2018 Future Short 76.7256 72.60 259.05
IFCI Limited 2018 Future Short 20.3096 19.70 29.26
Indraprastha Gas Limited 2018 Future Short 280.4999 281.05 23.02
IRB Infrastructure Developers Limited 2018 Future Short 220.05 224.15 5.07
Jaiprakash Associates Limited 2018 Future Short 19.2704 19.05 651.26
Kotak Mahindra Bank Limited 2018 Future Short 1056.2342 1,053.60 161.81
Mahanagar Gas Limited 2018 Future Short 973.6 963.75 2.22
Mahindra & Mahindra Limited 2018 Future Short 744.9002 742.60 1,151.88
Multi Commodity Exchange of India Limited 2018 Future Short 693.51 672.05 47.84
United Spirits Limited 2018 Future Short 3105.4671 3,145.00 371.54
Manappuram Finance Limited 2018 Future Short 109.2209 109.75 93.66
MRF Limited 2018 Future Short 69655.6045 72,694.35 14.75
NBCC (India) Limited 2018 Future Short 193.739 191.45 38.37
NMDC Limited 2018 Future Short 121.8535 119.25 38.62
PC Jeweller Limited 2018 Future Short 326.2704 322.10 185.73
Petronet LNG Limited 2018 Future Short 227.7837 231.25 76.25
Repco Home Finance Limited 2018 Future Short 550.9035 552.55 8.93
RBL Bank Limited 2018 Future Short 480.2215 477.45 54.93
Steel Authority of India Limited 2018 Future Short 72.492 70.65 213.50
Vedanta Limited 2018 Future Short 279.1318 279.30 62.77
Shriram Transport Finance Company Limited 2018 Future Short 1455.9359 1,444.80 49.89
Siemens Limited 2018 Future Short 1098.5881 1,079.55 43.02
Bharat Financial Inclusion Limited 2018 Future Short 1101.3166 1,102.70 4.07
Tata Consultancy Services Limited 2018 Future Short 2863.8474 2,864.65 223.62
Tata Steel Limited 2018 Future Short 593.55 573.45 1.60
Union Bank of India 2018 Future Short 95.1138 94.50 11.29
Voltas Limited 2018 Future Short 624.9642 623.95 5.50



contract Lakhs
NIL

632
AXIS ENHANCED ARBITRAGE FUND (Contd.)
NIL


Option Price when
purchased
NIL

633
AXIS EQUITY FUND
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

634
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

635
contract Lakhs
NIL


contract Lakhs
NIL

Gross Notional Value of contracts where futures were bought : Rs. 1,242 Lakhs
NIL


Option Price when
purchased
NIL

Gross Notional value of contracts : Rs. 214.39
636
contract Lakhs
Infibeam Incorporation Limited 2018 Future Short 152.0259 146.90 529.53
Escorts Limited 2018 Future Short 808.4 823.55 6.83
Godfrey Phillips India Limited 2018 Future Short 814.65 825.90 1.77
IRB Infrastructure Developers Limited 2018 Future Short 216.9956 224.15 19.45
Jaiprakash Associates Limited 2018 Future Short 19.4529 19.05 175.72
Bharat Financial Inclusion Limited 2018 Future Short 1094.159 1,102.70 14.93


Net Profit/(Loss) value on all contracts combined : Rs. (2,598.66) Lakhs

contract Lakhs
NIL

NIL

637
Option Price when
purchased
NIL

Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs.(64.31)
638
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

639
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty Index 8500 Call June 2018 Option Call 2,000 1,984.4000 1,671.0000


640
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


641
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


642
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


643
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


644
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty Index 8000 Call December 2018 Option Call 2,500 2,176.2976 2,312.6000


645
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


646
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


647
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
AXISCP1
Nifty Index 7900 Call December 2018 Option Call 500 1,856.4278 2,651.8000


648
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


649
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


650
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty Index 8700 Call December 2019 Option Call 400 2,034.2000 2,563.4500


651
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


652
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


653
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased


654
AXIS INCOME SAVER
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty Index 1030 Call June 2018 Option Call 105 229.6148 350.0000
Nifty Index 1060 Call June 2018 Option Call 290 290.1450 534.9500


Net Profit/Loss on all contracts (premium paid treated as loss) :Rs. 216.84
Lakhs
655
AXIS MIDCAP FUND
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

656
AXIS SMALL CAP FUND
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

657
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

658
contract Lakhs
ICICI Prudential Life Insurance Company Limited 2018 Future Short 379.4721 390.25 54.96
Apollo Tyres Limited 2018 Future Short 267.7508 273.80 57.49
Bharat Heavy Electricals Limited 2018 Future Short 82.8914 81.80 27.68
Bharat Electronics Limited 2018 Future Short 141.3241 142.15 24.41
Bank of Baroda 2018 Future Short 144.3768 142.65 1,008.30
Idea Cellular Limited 2018 Future Short 78.2261 76.40 14.15
Canara Bank 2018 Future Short 265.2419 265.55 44.97
CEAT Limited 2018 Future Short 1442.9 1,510.55 8.57
Cipla Limited 2018 Future Short 545.1214 544.55 38.88
Colgate Palmolive (India) Limited 2018 Future Short 1043.5843 1,054.25 29.59
Dalmia Bharat Limited 2018 Future Short 2878.5166 2,862.00 15.97
Dr. Reddy's Laboratories Limited 2018 Future Short 2117.7327 2,093.00 57.54
Glenmark Pharmaceuticals Limited 2018 Future Short 534.7318 528.75 33.08
Hindustan Unilever Limited 2018 Future Short 1338.5823 1,339.50 16.87
IDFC Bank Limited 2018 Future Short 49.1523 47.70 82.55
Infibeam Incorporation Limited 2018 Future Short 151.75 146.90 529.53
ITC Limited 2018 Future Short 260.1036 256.90 413.59
Jet Airways (India) Limited 2018 Future Short 626.509 612.45 93.46
Cummins India Limited 2018 Future Short 707.3917 682.45 772.19
Motherson Sumi Systems Limited 2018 Future Short 317.6386 312.30 223.12
Nestle India Limited 2018 Future Short 8003.4187 8,240.55 40.05
PTC India Limited 2018 Future Short 85.3833 87.80 8.36
Raymond Limited 2018 Future Short 896.85 903.30 1.10
Shree Cements Limited 2018 Future Short 16221.2263 16,301.60 167.30
The South Indian Bank Limited 2018 Future Short 23.4142 23.00 14.06
Sun Pharmaceutical Industries Limited 2018 Future Short 495.0888 497.45 5.58
Wipro Limited 2018 Future Short 274.3963 282.60 816.98
Zee Entertainment Enterprises Limited 2018 Future Short 578.5125 578.50 3.72
659


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty Index 9900_ Put June 2018 Option PUT 3,500 210.5088 206.8000


660
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty Index 10000 Put June 2020 Option Put 1,000 585.0924 300.2000

661
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
Nifty Index 10000 Put June 2020 Option Put 200 537.2685 300.2000
Nifty Index 9900 Put June 2020 Option Put 400 562.7813 278.1500

662
AXIS MULTICAP FUND
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

663
AXIS NIFTY ETF
contract Lakhs
NIL


contract Lakhs
NIL

NIL


Option Price when
purchased
NIL

664
contract Lakhs
NIL


contract Lakhs
NIL

NIL

NIL

Gross Notional value of contracts : Rs. 4,769.62
Net Profit/(Loss) on all contracts (premium paid treated as loss) : Rs. 1,288.19
665
contract Lakhs
NIL


contract Lakhs
NIL

NIL

NIL

666
A. Hedging Positions through Futures as on December 13, 2017
contract Lakhs
NIL
For the period ended December 13, 2017 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on December 13, 2017

contract Lakhs
NIL
For the period ended December 13, 2017 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on December 13, 2017
NIL

D. Other than Hedging Positions through Options as on December 13, 2017
NIL

E. Hedging Positions through swaps as on December 13, 2017 - NIL
667
A. Hedging Positions through Futures as on February 26, 2018
contract Lakhs
NIL
For the period ended February 26, 2018 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on February 26, 2018

contract Lakhs
NIL
For the period ended February 26, 2018 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on February 26, 2018
NIL

D. Other than Hedging Positions through Options as on February 26, 2018
NIL

E. Hedging Positions through swaps as on February 26, 2018 - NIL
668
contract Lakhs
NIL


contract Lakhs
NIL

NIL

NIL

669
A. Hedging Positions through Futures as on July 25, 2017
contract Lakhs
NIL
For the period ended July 25, 2017 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on July 25, 2017

contract Lakhs
NIL
For the period ended July 25, 2017 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on July 25, 2017
NIL

D. Other than Hedging Positions through Options as on July 25, 2017
NIL

E. Hedging Positions through swaps as on July 25, 2017 - NIL
670
A. Hedging Positions through Futures as on August 18, 2017
contract Lakhs
NIL
For the period ended August 18, 2017 following details specified for hedging transactions through futures which have been squared off/expired:

B. Other than Hedging Positions through Futures as on August 18, 2017

contract Lakhs
NIL
For the period ended August 18, 2017 following details specified for non-hedging transactions through futures which have been squared off/expired:

C. Hedging Positions through Put Options as on August 18, 2017
NIL

D. Other than Hedging Positions through Options as on August 18, 2017
NIL

E. Hedging Positions through swaps as on August 18, 2017 - NIL
671
ATTACHMENT - 4 - HISTORICAL PER UNIT STATISTICS :

Per Unit Particulars (Rupees) Axis Liquid Fund Axis Overnight Fund Axis Treasury Advantage Fund
As on As on As on As on As on As on As on
Face Value Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/- Rs.1000/-
Unit Capital (Rupees in '000) 116,095,556 85,985,033 81,255,605 2,262,870 7,389,475 15,334,910 19,653,284
Avg Net asset (Rupees in '000) 250,937,202 219,854,885 136,257,714 3,156,190 21,984,599 29,900,778 24,122,369
No of Days 365 365 365 17 365 365 365
Net Asset Value (NAV)
ETF - - - - - - -
Growth 2,065.0989 1,920.7373 1,798.0178 1,002.8937 2,087.8789 1,937.6055 1,816.0627
Dividend - - - - - - -
Daily Dividend 1,001.3998 1,001.3998 1,000.8759 1,000.4995 1,006.6420 1,006.7940 1,006.2334
Weekly Dividend 1,003.9084 1,003.8026 1,002.9146 1,001.7203 1,008.6891 1,009.1252 1,007.1553
Monthly Dividend 1,002.6891 1,002.3652 1,001.4117 1,002.8956 1,008.1377 1,008.5712 1,006.6019
Quarterly Dividend - - - - - - -
Half Yearly Dividend - - - - - - -
Annual Dividend - - - - - - -
Bonus - - - - - - -
Regular Dividend - - - - - - -
Retail Growth 1,949.9125 1,823.6153 1,716.8570 - 1,953.8283 1,813.2376 1,707.1583
672
Retail Daily Dividend 1,000.9559 1,000.9559 1,000.6413 - 1,005.8846 1,006.0361 1,005.4758
Retail Weekly Dividend 1,002.3582 1,002.1559 1,001.2877 - 1,007.2872 1,007.7212 1,005.7055
Retail Monthly Dividend 1,002.0170 1,001.8511 1,000.9837 - 1,008.1340 1,008.5675 1,006.5507
Direct Regular Dividend - - - - - - -
Direct Dividend - - - - - - -
Direct Growth 2,073.5234 1,927.5309 1,803.2266 1,002.9164 2,145.7201 1,982.0451 1,846.1020
Direct Daily Dividend 1,000.9560 1,000.9560 1,000.6413 1,000.5059 1,007.7149 1,007.8944 1,007.2893
Direct Weekly Dividend 1,003.9167 1,003.8103 1,002.9237 - 1,007.3345 1,007.7936 1,005.8188
Direct Monthly Dividend 1,002.1029 1,001.9382 1,001.0504 1,002.9230 1,008.1860 1,008.6467 1,006.6690
Direct Quarterly Dividend - - - - - - -
Direct Half Yearly Dividend - - - - - - -
Direct Annual Dividend - - - - - - -
Direct Bonus 2,073.4154 1,927.4087 1,803.1210 - - - 1,844.4997
Income
Income other than profit (loss) on sale of investment, per unit (A) 159.52 170.75 119.53 4.12 237.50 132.47 92.50
Income from profit (loss) on sale of investment to third party, per unit (B) (0.26) (0.10) (0.02) - (4.85) 10.85 1.87
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) 0.04 (0.07) 0.06 - (4.75) (1.01) 2.87
Transfer to revenue account from past year’s reserve, per unit 1.05 0.59 0.30 - 4.12 1.16 0.17
Gross Income (A+B+C= D) 159.30 170.58 119.57 4.12 227.91 142.31 97.24
Expenses (E)
Aggregate Of Expenses,Write-Off,Amortisation and charges, per unit 2.30 2.65 1.49 0.07 13.15 8.27 5.18
Net Income (D-E = F) 157.00 167.93 118.08 4.05 214.75 134.04 92.06
Net unrealised appreciation/depreciation in value of investments, per unit 0.87 1.55 0.08 - 6.47 3.59 2.95
Ratio Of Expenses To Average Net Assets 0.11% 0.10% 0.09% 0.11% 0.44% 0.42% 0.42%
Ratio Of Gross Income To Average Net Assets 7.37% 6.67% 7.13% 6.34% 7.66% 7.30% 7.92%
ATTACHMENT - 4 - HISTORICAL PER UNIT STATISTICS : (CONTD.)

Repurchase Price #
Highest
ETF - - - - - - -
Growth 2,065.0995 1,920.7373 1,798.0178 1,002.8937 2,087.0312 1,936.5266 1,816.0627
Dividend - - - - - - -
Daily Dividend 1,001.3998 1,001.3998 1,000.8759 1,000.5032 1,006.2334 1,006.2334 1,006.2334
Weekly Dividend 1,004.2228 1,003.8027 1,004.0642 1,001.7203 1,008.2797 1,008.5633 1,007.5839
Bonus - - - - - - -
Retail Growth 1,949.9125 1,823.6153 1,716.8568 - 1,953.0353 1,812.2280 1,707.1583
673
Direct Growth 2,073.5234 1,927.5308 1,803.2266 1,002.9164 2,144.8140 1,980.8551 1,846.1020
Direct Bonus 2,073.4154 1,927.4087 1,803.1210 - - 1,847.5931 1,844.4997
Lowest
ETF - - - - - - -
Growth 1,921.1403 1,798.3545 1,677.0960 1,000.0000 1,939.3545 1,817.6322 1,686.2288
Dividend - - - - - - -
Daily Dividend 1,001.3998 1,000.8759 1,000.7548 1,000.0000 1,004.8903 1,005.9227 1,004.0582
Weekly Dividend 1,002.0913 1,002.0913 1,002.0913 1,000.0000 1,004.9495 1,005.8743 1,002.8989
Bonus - - - - - - -
Retail Growth 1,823.9703 1,717.1544 1,609.7651 - 1,814.8743 1,708.5781 1,595.6140

Direct Growth 1,927.9382 1,803.5683 1,680.5957 1,000.0000 1,983.9208 1,847.7915 1,707.9512
Direct Bonus 1,927.8161 1,803.4627 1,680.5128 - - 1,846.1868 1,706.4092
#As per Circulars No. SEBI/HI/IMD/DF2/CIR/P/2018/92, repurchase NAV is not declared
on AMFI and hence the details pertains to NAV declared on AMFI
Resale Price
Highest
ETF - - - - - - -
Growth 2,065.0995 1,920.7373 1,798.0178 1,002.8937 2,087.0312 1,936.5266 1,816.0627
674
Dividend - - - - - - -
Daily Dividend 1,001.3998 1,001.3998 1,000.8759 1,000.5032 1,006.2334 1,006.2334 1,006.2334
Weekly Dividend 1,004.2228 1,003.8027 1,004.0642 1,001.7203 1,008.2797 1,008.5633 1,007.5839
Bonus - - - - - - -
Retail Growth 1,949.9125 1,823.6153 1,716.8568 - 1,953.0353 1,812.2280 1,707.1583
Direct Growth 2,073.5234 1,927.5308 1,803.2266 1,002.9164 2,144.8140 1,980.8551 1,846.1020
Direct Bonus 2,073.4154 1,927.4087 1,803.1210 - - 1,847.5931 1,844.4997
Lowest
ETF

Growth 1,921.1403 1,798.3545 1,677.0960 1,000.0000 1,939.3545 1,817.6322 1,686.2288
Dividend - - - - - - -
Daily Dividend 1,001.3998 1,000.8759 1,000.7548 1,000.0000 1,004.8903 1,005.9227 1,004.0582
Weekly Dividend 1,002.0913 1,002.0913 1,002.0913 1,000.0000 1,004.9495 1,005.8743 1,002.8989
Bonus - - - - - - -
Retail Growth 1,823.9703 1,717.1544 1,609.7651 - 1,814.8743 1,708.5781 1,595.6140
Direct Growth 1,927.9382 1,803.5683 1,680.5957 1,000.0000 1,983.9208 1,847.7915 1,707.9512
675
Direct Bonus 1,927.8161 1,803.4627 1,680.5128 - - 1,846.1868 1,706.4092
Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Price Earning Ratio (Closing Trading Price/Net income per unit) N.A. N.A. N.A. N.A. N.A. N.A. N.A.

Per Unit Particulars (Rupees) Axis Banking & PSU Debt Fund Axis Short Term Fund Axis Strategic Bond Fund
As on As on As on As on As on As on As on As on As on
Face Value Rs.1000/- Rs.1000/- Rs.1000/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/-
Unit Capital (Rupees in '000) 26,382,408 4,542,242 4,336,242 14,710,325 30,708,392 35,009,372 6,766,943 8,041,393 1,563,496
Avg Net asset (Rupees in '000) 15,981,959 7,348,563 6,039,690 48,471,754 69,029,688 52,342,280 13,547,179 7,834,825 2,194,588
No of Days 365 365 365 365 365 365 365 365 365
ETF - - - - - - - - -
Growth 1,747.6744 1,604.1961 1,496.8533 20.2321 18.8573 17.7802 18.1899 16.9484 15.7456
Dividend - - - - - - - - -
Daily Dividend 1,014.8190 1,008.5942 1,008.0388 - - - - - -
Weekly Dividend 1,016.5659 1,010.5866 1,008.7637 10.2772 10.2833 10.2642 - - -
Monthly Dividend 1,016.6565 1,010.7661 1,008.9437 10.1911 10.1887 10.2037 - - -
Quarterly Dividend - - - - - - 10.2300 10.3007 10.5220
Half Yearly Dividend - - - - - - 10.4640 10.7093 10.8927
Annual Dividend - - - - - - - - -
Bonus - - - 20.3479 18.9653 17.8821 - - -
Regular Dividend - - - 13.5352 12.6152 11.8946 - - -
Retail Growth - - - 20.0039 18.6446 17.5797 - - -
676
Retail Daily Dividend - - - - - - - - -
Retail Weekly Dividend - - - 10.1853 10.1913 10.1724 - - -
Retail Monthly Dividend - - - 10.0559 10.0535 10.0496 - - -
Direct Regular Dividend - - - 12.9341 11.9728 11.2097 - - -
Direct Dividend - - - - - - - - -
Direct Growth 1,769.5911 1,619.7946 1,508.2745 21.2260 19.6528 18.4013 19.1554 17.7304 16.3622
Direct Daily Dividend 1,014.8333 1,008.6187 1,008.0376 - - - - - -
Direct Weekly Dividend 1,016.6108 1,010.6268 1,008.7836 10.2769 10.2841 10.2648 - - -
Direct Monthly Dividend 1,016.7173 1,010.8068 1,008.9628 10.0581 10.0559 10.0517 - - -
Direct Quarterly Dividend - - - - - - 10.7701 10.9323 11.0377
Direct Half Yearly Dividend - - - - - - 10.8530 11.0005 11.0907
Direct Annual Dividend - - - - - - - - -
Direct Bonus - - 1,508.7074 - - - - - -
Income
Income other than profit (loss) on sale of investment, per unit (A) 47.87 118.29 105.85 2.62 1.66 1.17 1.75 0.81 1.17
Income from profit (loss) on sale of investment to third party, per unit (B) (0.28) (1.94) 10.68 (0.20) (0.01) 0.14 (0.02) 0.01 0.23
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) (0.87) 0.36 3.35 (0.11) $0.00 0.02 (0.11) $0.00 0.14
Transfer to revenue account from past year’s reserve, per unit 0.87 6.98 7.27 0.02 0.01 0.01 0.01 0.01 0.03
Gross Income (A+B+C= D) 46.72 116.71 119.88 2.30 1.65 1.33 1.63 0.82 1.54
Expenses (E)
Aggregate Of Expenses,Write-Off,Amortisation and charges, per unit 2.25 4.73 4.24 0.13 0.10 0.07 0.18 0.10 0.16
Net Income (D-E = F) 44.47 111.99 115.64 2.17 1.55 1.26 1.45 0.73 1.38
Net unrealised appreciation/depreciation in value of investments, per unit 24.02 0.05 (0.24) $0.00 (0.08) 0.05 (0.11) (0.06) 0.15
Ratio Of Expenses To Average Net Assets 0.37% 0.29% 0.30% 0.41% 0.44% 0.49% 0.92% 0.98% 1.17%
Ratio Of Gross Income To Average Net Assets 7.71% 7.21% 8.61% 6.99% 7.35% 8.91% 8.15% 8.46% 10.97%

Repurchase Price #
Highest
ETF - - - - - - - - -
Growth 1,747.0298 1,599.3041 1,493.1112 20.2245 18.7534 17.6913 18.1823 16.7693 15.5881
Dividend - - - - - - - - -
Daily Dividend 1,014.4452 1,005.5187 1,005.5187 - - - - - -
Weekly Dividend 1,016.1914 1,010.0300 1,009.8024 10.2758 10.2361 10.2374 - - -
Bonus - - - 20.3402 18.8607 17.7927 - - -
Retail Growth - - - 19.9963 18.5418 17.4918 - - -
677
Direct Growth 1,768.9149 1,614.8160 1,504.5038 21.2173 19.5434 18.3093 19.1468 17.5419 16.1986
Direct Bonus - 1,528.9951 1,504.9356 - - - - - -
Lowest
ETF - - - - - - - - -
Growth 1,599.1453 1,494.0461 1,384.3541 18.7972 17.6830 16.2903 16.8585 15.5704 14.1406
Dividend - - - - - - - - -
Daily Dividend 999.1387 1,004.7797 1,002.6100 - - - - - -
Weekly Dividend 998.3974 1,006.8852 1,004.8237 10.1708 10.1708 10.0883 - - -
Monthly Dividend 998.5755 1,004.6762 1,001.4890 10.1226 10.0773 10.1200 - - -
Bonus - - - 18.9048 17.7843 16.3837 - - -
Retail Growth - - - 18.5852 17.4835 16.1066 - - -

Direct Growth 1,615.3084 1,505.4957 1,392.5393 19.6080 18.3030 16.7453 17.6539 16.1819 14.5959
Direct Daily Dividend 999.3650 1,004.7895 1,002.6148 - - - - - -
Direct Weekly Dividend 998.6317 1,006.9046 1,004.8382 10.1780 10.1739 10.1324 - - -
Direct Monthly Dividend 998.7997 1,004.6814 1,001.4895 9.9940 9.9459 9.9739 - - -
Direct Bonus - 1,505.9269 1,392.9245 - - - - - -
Resale Price
Highest
ETF - - - - - - - - -
Growth 1,747.0298 1,603.3124 1,496.8533 20.2245 18.8476 17.7802 18.1823 16.9387 15.7456
678
Dividend - - - - - - - - -
Daily Dividend 1,014.4452 1,008.0388 1,008.0388 - - - - - -
Weekly Dividend 1,016.1914 1,010.0300 1,009.8024 10.2758 10.2875 10.2888 - - -
Bonus - - - 20.3402 18.9555 17.8821 - - -
Retail Growth - - - 19.9963 18.6350 17.5797 - - -
Direct Growth 1,768.9149 1,618.8632 1,508.2745 21.2173 19.6416 18.4013 19.1468 17.7191 16.3622
Direct Bonus - 1,532.8272 1,508.7074 - - - - - -
Lowest
ETF

Growth 1,599.1453 1,497.7906 1,387.8237 18.7972 17.7719 16.3722 16.8585 15.7277 14.2834
Dividend - - - - - - - - -
Daily Dividend 999.1387 1,007.2979 1,005.1228 - - - - - -
Weekly Dividend 998.3974 1,006.8852 1,004.8237 10.1708 10.2219 10.1390 - - -
Monthly Dividend 998.5755 1,007.1942 1,003.9990 10.1226 10.1279 10.1709 - - -
Bonus - - - 18.9048 17.8737 16.4660 - - -
Retail Growth - - - 18.5852 17.5714 16.1875 - - -
Direct Growth 1,615.3084 1,509.2689 1,396.0294 19.6080 18.3950 16.8294 17.6539 16.3454 14.7433
679
Direct Daily Dividend 999.3650 1,007.3078 1,005.1276 - - - - - -
Direct Weekly Dividend 998.6317 1,006.9046 1,004.8382 10.1780 10.2250 10.1833 - - -
Direct Monthly Dividend 998.7997 1,007.1994 1,003.9995 9.9940 9.9959 10.0240 - - -
Direct Bonus - 1,509.7012 1,396.4155 - - - - - -
Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Price Earning Ratio (Closing Trading Price/Net income per unit) N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
$ Amount less than Rs. 0.005

Per Unit Particulars (Rupees) Axis Dynamic Bond Fund Axis Regular Saver Fund Axis Gilt Fund
Unit Capital (Rupees in '000) 707,002 1,330,880 2,034,198 1,462,851 2,256,985 4,117,116 222,715 288,091 588,681
Avg Net asset (Rupees in '000) 1,805,263 3,330,347 3,251,670 3,220,811 5,406,041 6,605,500 397,412 525,896 937,560
No of Days 365 365 365 365 365 365 365 365 365
ETF - - - - - - - - -
Growth 18.9123 17.5951 16.9134 19.4848 18.4661 17.1563 15.9762 15.0449 14.6628
Dividend - - - - - - - - -
Daily Dividend - - - - - - - - -
Weekly Dividend - - - - - - - - -
Monthly Dividend - - - - - - - - -
Quarterly Dividend 10.3228 10.2259 10.5577 10.5320 10.6590 10.8506 - - -
Half Yearly Dividend 10.4548 10.4406 10.7598 10.5613 10.9783 11.1413 10.4326 10.7952 11.4906
Annual Dividend - - - 11.1028 11.4749 11.5912 - - -
Bonus - - - - - - - - -
Regular Dividend - - - - - - 10.0835 10.0500 9.9465
Retail Growth - - - - - - - - -
680
Retail Weekly Dividend - - - - - - - - -
Retail Monthly Dividend - - - - - - - - -
Direct Regular Dividend - - - - - - 10.0852 10.0535 9.9587
Direct Growth 20.2408 18.6746 17.7933 21.1112 19.8162 18.1839 16.4981 15.4589 14.9865
Direct Daily Dividend - - - - - - - - -
Direct Weekly Dividend - - - - - - - - -
Direct Monthly Dividend - - - - - - - - -
Direct Quarterly Dividend 10.5779 10.7232 11.1837 13.3358 13.5012 12.9272 - - -
Direct Half Yearly Dividend 11.3189 11.1432 11.3352 11.3613 11.6368 11.6341 10.4629 - -
Direct Annual Dividend - - - 11.9017 12.1291 12.0737 - - -
Direct Bonus - - - - - - - - -
Income
Income from profit (loss) on sale of investment to third party, per unit (B) 0.15 (0.35) 0.53 0.96 1.36 0.10 (0.16) (1.00) (0.01)
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) (0.13) 0.04 0.11 (0.01) (0.01) 0.01 $0.00 (0.05) -
Transfer to revenue account from past year’s reserve, per unit 0.03 0.07 0.02 0.06 0.09 0.10 0.01 0.01 0.01
Expenses (E)
Net Income (D-E = F) 1.71 1.27 1.66 1.84 2.12 0.70 1.01 0.19 1.07
Net unrealised appreciation/depreciation in value of investments, per unit (0.13) (0.04) 0.14 0.68 0.86 0.58 0.09 0.03 (0.20)

Repurchase Price #
Highest
ETF - - - - - - - - -
Growth 18.9061 17.4225 17.0912 19.4805 18.0569 16.6416 15.9794 15.1094 14.9995
Dividend - - - - - - - - -
Annual Dividend - - - 12.0459 12.1997 12.1575 - - -
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
681
Direct Growth 20.2334 18.4895 17.9277 21.1051 19.3457 17.6383 16.5008 15.4785 15.3042
Direct Half Yearly Dividend 11.7879 11.7142 11.9254 12.1993 12.0508 12.0059 10.9477 - 11.5890
Direct Bonus - - - - - - - - 14.7532
Lowest
ETF - - - - - - - - -
Growth 17.4373 16.6472 15.1368 18.3889 16.6648 15.3694 14.7047 14.3891 13.1687
Dividend - - - - - - - - -
Annual Dividend - - - 11.0487 11.1174 11.2089 - - -
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -

Direct Growth 18.5329 17.5164 15.7816 19.8647 17.6721 16.0646 15.1193 14.7089 13.3917
Direct Bonus - - - - - - - - 13.5269
Resale Price
Highest
ETF - - - - - - - - -
Growth 18.9061 17.5985 17.2638 19.4805 18.6154 17.1563 15.9794 15.2620 15.1510
682
Dividend - - - - - - - - -
Annual Dividend - - - 12.0459 12.5770 12.5335 - - -
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Growth 20.2334 18.6763 18.1088 21.1051 19.9440 18.1838 16.5008 15.6348 15.4588
Direct Bonus - - - - - - - - 14.7532
Lowest
ETF

Growth 17.4373 16.8154 15.2897 18.3889 17.1802 15.8447 14.7047 14.5344 13.3017
Dividend - - - - - - - - -
Annual Dividend - - - 11.0487 11.4612 11.5556 - - -
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Growth 18.5329 17.6933 15.9410 19.8647 18.2187 16.5614 15.1193 14.8575 13.5270
683
Direct Bonus - - - - - - - - 13.5269
Trading Price

Per Unit Particulars (Rupees) Axis Credit Risk Fund Axis Corporate Debt Fund Axis Fixed Term Plan - Series 64
As on As on As on As on As on As on As on As on
March 31, 2019 March 31, 2018 March 31, 2017 March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 March 31, 2017
Face Value Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/-
Unit Capital (Rupees in '000) 11,340,865 13,644,088 13,811,385 2,121,845 2,429,771 67,043 67,043 67,043
Avg Net asset (Rupees in '000) 17,148,074 18,822,318 11,379,417 2,869,529 3,168,325 94,126 88,437 89,466
No of Days 365 365 365 365 262 365 365 365
ETF - - - - - - - -
Growth 14.5506 13.6537 12.8215 11.4030 10.4833 14.4865 13.5580 12.7332
Dividend - - - - - 14.4864 13.5579 12.7331
Daily Dividend - - - 10.0764 10.0783 - - -
Weekly Dividend 10.1917 10.2045 10.1837 10.0853 10.0806 - - -
Monthly Dividend 10.1226 10.1294 10.1343 10.0729 10.0806 - - -
Quarterly Dividend - - - - - - - -
Half Yearly Dividend - - - - - - - -
Annual Dividend - - - - - - - -
Bonus - - - - - - - -
Regular Dividend - - - 11.4036 10.4839 - - -
Retail Growth - - - - - - - -
684
Retail Daily Dividend - - - - - - - -
Retail Weekly Dividend - - - - - - - -
Retail Monthly Dividend - - - - - - - -
Direct Regular Dividend - - - 11.5683 10.5475 - - -
Direct Dividend - - - - - - - -
Direct Growth 15.3583 14.2445 13.1920 11.5712 10.5502 14.8600 13.8391 12.9304
Direct Daily Dividend - - - 10.0834 10.0856 - - -
Direct Weekly Dividend 10.2742 10.2870 10.2654 10.0805 10.0818 - - -
Direct Monthly Dividend 10.0685 10.0758 10.0697 10.0741 10.0812 - - -
Direct Quarterly Dividend - - - - - - - -
Direct Half Yearly Dividend - - - - - - - -
Direct Annual Dividend - - - - - - - -
Direct Bonus - - - - - - - -
Income
Income other than profit (loss) on sale of investment, per unit (A) 1.36 1.19 0.70 1.09 0.77 1.11 1.08 1.06
Income from profit (loss) on sale of investment to third party, per unit (B) (0.06) (0.01) 0.06 0.09 ($0.00) (0.18) - -
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) (0.07) 0.02 0.01 (0.03) ($0.00) - - -
Transfer to revenue account from past year’s reserve, per unit $0.00 0.00 0.00 0.01 - - - -
Gross Income (A+B+C= D) 1.24 1.19 0.77 1.15 0.76 0.93 1.08 1.06
Expenses (E)
Aggregate Of Expenses,Write-Off,Amortisation and charges, per unit 0.23 0.22 0.13 0.11 0.07 0.07 0.07 0.07
Net Income (D-E = F) 1.00 0.97 0.64 1.04 0.69 0.87 1.01 0.99
Net unrealised appreciation/depreciation in value of investments, per unit (0.10) (0.06) 0.03 0.05 (0.04) (0.02) (0.10) 0.08
Ratio Of Expenses To Average Net Assets 1.55% 1.60% 1.53% 0.78% 0.72% 0.48% 0.50% 0.50%
Ratio Of Gross Income To Average Net Assets 8.18% 8.63% 9.33% 8.49% 8.07% 6.64% 8.17% 7.93%

Repurchase Price #
Highest
ETF - - - - - - - -
Growth 14.5446 13.4419 12.6292 11.3988 10.4775 14.4815 13.5507 12.7332
Dividend - - - - - 14.4814 13.5506 12.7331
Daily Dividend - - - 10.0727 10.0727 - - -
Weekly Dividend 10.1922 10.0659 10.0592 10.0816 10.0970 - - -
Quarterly Dividend - - - - - - - 10.2710
Bonus - - - - - - - -
685
Direct Dividend - - - - - - - 11.8795
Direct Growth 15.3511 14.0220 12.9941 11.5665 10.5436 14.8546 13.8311 12.9304
Direct Bonus - - - - - - - -
Lowest
ETF - - - - - - - -
Growth 13.5833 12.6196 11.6121 10.4935 10.0000 13.5712 12.7398 11.7526
Dividend - - - - - 13.5711 12.7397 11.7526
Daily Dividend - - - 10.0552 10.0000 - - -
Weekly Dividend 10.0743 9.9912 9.9304 10.0360 10.0000 - - -
Bonus - - - - - - - -

Direct Dividend - - - - - - - 11.8751
Direct Growth 14.1977 12.9873 11.7955 10.5612 10.0000 13.8532 12.9383 11.8750
Direct Bonus - - - - - - - -
Resale Price
Highest
ETF - - - - - - - -
Growth 14.5446 13.6466 12.8215 11.3988 10.4775 14.4815 13.5507 12.7332
686
Dividend - - - - - 14.4814 13.5506 12.7331
Daily Dividend - - - 10.0727 10.0727 - - -
Weekly Dividend 10.1922 10.2192 10.2124 10.0816 10.0970 - - -
Bonus - - - - - - - -
Direct Dividend - - - - - - - 11.8795
Direct Growth 15.3511 14.2355 13.1920 11.5665 10.5436 14.8546 13.8311 12.9304
Direct Bonus - - - - - - - -
Lowest
ETF

Growth 13.5833 12.8118 11.7889 10.4935 10.0000 13.5712 12.7398 11.7526
Dividend - - - - - 13.5711 12.7397 11.7526
Daily Dividend - - - 10.0552 10.0000 - - -
Weekly Dividend 10.0743 10.1433 10.0816 10.0360 10.0000 - - -
Bonus - - - - - - - -
Direct Dividend - - - - - - - 11.8751
Direct Growth 14.1977 13.1851 11.9751 10.5612 10.0000 13.8532 12.9383 11.8750
687
Direct Bonus - - - - - - - -
Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Price Earning Ratio (Closing Trading Price/Net income per unit) N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.

Per Unit Particulars (Rupees) Axis Capital Protection Oriented Fund - Series 5 Axis Hybrid Fund - Series 5 (1346 Days) Axis Hybrid Fund - Series 6 (1324 Days)
Unit Capital (Rupees in '000) 356,777 356,777 356,777 71,793 71,793 71,793 32,209 32,209 32,209
Avg Net asset (Rupees in '000) 558,806 531,359 736,335 93,136 90,859 2,953,561 43,114 41,967 2,764,392
No of Days 365 365 365 365 365 365 365 365 365
ETF - - - - - - - - -
Growth 16.4879 15.0088 14.0626 13.4473 12.8511 12.4284 13.8681 13.2323 12.7886
Dividend 16.4879 15.0087 14.0625 13.4451 12.8490 12.4264 13.8728 13.2368 12.7929
Quarterly Dividend - - - - - - - - -
Half Yearly Dividend - - - - - - - - -
Bonus - - - - - - - - -
Regular Dividend - - - - - - - - -
Retail Growth - - - - - - - - -
688
Direct Regular Dividend - - - - - - - - -
Direct Growth - - - 14.2273 13.4427 12.8716 14.6688 13.8387 13.2420
Direct Quarterly Dividend - - - - - - - - -
Direct Half Yearly Dividend - - - - - - - - -
Direct Bonus - - - - - - - - -
Income
Income from profit (loss) on sale of investment to third party, per unit (B) (0.01) - (0.00) (0.06) - 27.06 (0.03) - 69.36
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) - - 0.00 - - - - - -
Transfer to revenue account from past year’s reserve, per unit - - - - - - - - -
Expenses (E)
Net Income (D-E = F) 0.60 0.54 0.88 0.55 0.51 40.61 0.61 0.52 102.63
Net unrealised appreciation/depreciation in value of investments, per unit 1.77 0.89 0.48 (0.04) (0.08) 0.01 (0.03) (0.06) 0.01

Repurchase Price #
Highest
ETF - - - - - - - - -
Growth 16.6009 16.0263 14.0626 13.4418 12.8461 13.4397 13.8583 13.2273 13.6631
Dividend 16.6008 16.0262 14.0625 13.4396 12.8440 13.4394 13.8629 13.2317 13.6631
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
689
Direct Dividend - - - - - 13.8472 - - 14.0691
Direct Growth - - - 14.2204 13.4364 13.8472 14.6573 13.8323 14.0733
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Growth 14.7752 13.9441 13.0455 12.7375 12.4287 11.7849 13.1379 12.7899 11.9933
Dividend 14.7752 13.9441 13.0454 12.7355 12.4267 11.7846 13.1423 12.7942 11.9933
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -

Direct Dividend - - - - - 12.0923 - - 12.2989
Direct Growth - - - 13.3412 12.8743 12.0923 13.7577 13.2458 12.3026
Direct Bonus - - - - - - - - -
Resale Price
Highest
ETF - - - - - - - - -
Growth 16.6009 16.0263 14.0626 13.4418 12.8461 13.4397 13.8583 13.2273 13.6631
690
Dividend 16.6008 16.0262 14.0625 13.4396 12.8440 13.4394 13.8629 13.2317 13.6631
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend - - - - 13.8472 - - 14.0691
Direct Growth - - 14.2204 13.4364 13.8472 14.6573 13.8323 14.0733
Direct Bonus - - - - - - - - -
Lowest
ETF

Growth 14.7752 13.9441 13.0455 12.7375 12.4287 11.7849 13.1379 12.7899 11.9933
Dividend 14.7752 13.9441 13.0454 12.7355 12.4267 11.7846 13.1423 12.7942 11.9933
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend - - - - 12.0923 - - 12.2989
Direct Growth - - 13.3412 12.8743 12.0923 13.7577 13.2458 12.3026
691
Direct Bonus - - - - - - - - -
Trading Price
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N
Price Earning Ratio (Closing Trading Price/Net income per unit) N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.

Per Unit Particulars (Rupees) Axis Hybrid Fund - Series 7 (1305 Days) Axis Hybrid Fund - Series 27 (1351 Days) Axis Hybrid Fund - Series 28 (1331 Days)
Unit Capital (Rupees in '000) 37,532 37,532 37,532 2,761,115 2,761,115 2,761,115 2,281,999 2,281,999 2,281,999
Avg Net asset (Rupees in '000) 50,207 48,901 2,826,153 3,323,317 3,141,737 2,813,363 2,814,424 2,660,336 2,382,893
No of Days 365 365 365 365 365 365 365 365 365
ETF - - - - - - - - -
Growth 13.8674 13.2351 12.7908 12.3300 11.5088 10.6965 12.8813 11.7819 10.9634
Dividend - - - 12.3300 11.5088 10.6965 12.8813 11.7819 10.9633
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
692
Direct Dividend - - - 12.8929 11.8757 10.8834 13.4576 12.1487 11.1479
Direct Growth - - - 12.8880 11.8743 10.8833 13.4581 12.1482 11.1475
Direct Bonus - - - - - - - - -
Income
Income from profit (loss) on sale of investment to third party, per unit (B) (0.04) - 53.70 0.21 0.01 $0.00 0.10 - 0.02
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) - - 0.00 $0.00 (0.00) $0.00 (0.03) 0.00 0.01
Expenses (E)
Net Income (D-E = F) 0.60 0.53 84.01 0.78 0.54 0.55 0.59 0.49 0.49
Net unrealised appreciation/depreciation in value of investments, per unit (0.04) (0.07) 0.01 0.31 0.27 ($0.00) 1.14 0.63 0.30

Repurchase Price #
Highest
ETF - - - - - - - - -
Growth 13.8586 13.2300 13.5836 12.7332 12.2508 10.6965 13.0494 12.5596 10.9634
Dividend - - 13.5836 12.7332 12.2508 10.6965 13.0493 12.5595 10.9633
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
693
Direct Dividend - - 13.9800 13.2154 12.6113 10.8834 13.5334 12.9202 11.1479
Direct Growth - - 13.9901 13.2136 12.6102 10.8833 13.5330 12.9197 11.1475
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Growth 13.1338 12.7935 11.9105 11.3819 10.6263 9.6650 11.6498 10.8892 9.9046
Dividend - - 11.9105 11.3819 10.6263 9.6650 11.6498 10.8892 9.9046
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -

Direct Dividend - - 12.2077 11.8401 10.8195 9.7206 12.1092 11.0804 9.9567
Direct Growth - - 12.2165 11.8378 10.8196 9.7217 12.1091 11.0800 9.9563
Direct Bonus - - - - - - - - -
Resale Price
Highest
ETF - - - - - - - - -
Growth 13.8586 13.2300 13.5836 12.7332 12.2508 10.6965 13.0494 12.5596 10.9634
694
Dividend - - 13.5836 12.7332 12.2508 10.6965 13.0493 12.5595 10.9633
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend - - 13.9800 13.2154 12.6113 10.8834 13.5334 12.9202 11.1479
Direct Growth - - 13.9901 13.2136 12.6102 10.8833 13.5330 12.9197 11.1475
Direct Bonus - - - - - - - - -
Lowest
ETF

Growth 13.1338 12.7935 11.9105 11.3819 10.6263 9.6650 11.6498 10.8892 9.9046
Dividend - - 11.9105 11.3819 10.6263 9.6650 11.6498 10.8892 9.9046
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend - - 12.2077 11.8401 10.8195 9.7206 12.1092 11.0804 9.9567
Direct Growth - - 12.2165 11.8378 10.8196 9.7217 12.1091 11.0800 9.9563
695
Direct Bonus - - - - - - - - -
Trading Price


Unit Capital (Rupees in '000) 859,267 859,267 859,267 1,076,967 1,076,967 1,076,967 2,278,837 2,278,837 2,278,837
Avg Net asset (Rupees in '000) 1,098,870 1,040,143 930,014 1,431,603 1,353,146 1,201,799 2,639,816 2,506,511 2,288,565
No of Days 365 365 365 365 365 365 365 365 256
ETF - - - - - - - - -
Growth 13.4676 12.2156 11.3869 14.0096 12.6729 11.7950 11.9364 11.1594 10.3556
Dividend 13.4676 12.2156 11.3869 14.0096 12.6729 11.7950 11.9364 11.1594 10.3556
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
696
Direct Dividend - - - - - - 12.4475 11.4705 10.4834
Direct Growth 14.0385 12.5676 11.5527 14.5974 13.0341 11.9631 12.4468 11.4707 10.4835
Direct Bonus - - - - - - - - -
Income
Income from profit (loss) on sale of investment to third party, per unit (B) (0.03) - - (0.05) - 0.02 (0.01) - (0.01)
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) (0.01) - 0.01 (0.01) - 0.01 - - (0.00)
Expenses (E)
Net Income (D-E = F) 0.44 0.46 0.48 0.41 0.45 0.50 0.48 0.45 0.26
Net unrealised appreciation/depreciation in value of investments, per unit 2.04 1.22 0.85 2.60 1.67 1.25 0.76 0.46 0.10

Repurchase Price #
Highest
ETF - - - - - - - - -
Growth 13.5512 13.0522 11.3869 14.1131 13.5850 11.7950 12.2740 11.8473 10.3582
Dividend 13.5512 13.0522 11.3869 14.1131 13.5850 11.7950 12.2740 11.8473 10.3582
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
697
Direct Dividend - - - - - - 12.6960 12.1463 10.4854
Direct Growth 14.0348 13.3968 11.5527 14.5993 13.9394 11.9631 12.6961 12.1465 10.4855
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Growth 12.0485 11.3086 10.2569 12.4839 11.7125 10.5264 11.0156 10.2715 9.6297
Dividend 12.0485 11.3086 10.2569 12.4839 11.7125 10.5264 11.0156 10.2715 9.6297
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -

Direct Dividend - - - - - - 11.4227 10.4064 9.7031
Direct Growth 12.4955 11.4813 10.2876 12.9430 11.8879 10.5439 11.4226 10.4064 9.7031
Direct Bonus - - - - - - - - -
Resale Price
Highest
ETF - - - - - - - - -
Growth 13.5512 13.0522 11.3869 14.1131 13.5850 11.7950 12.2740 11.8473 10.3582
698
Dividend 13.5512 13.0522 11.3869 14.1131 13.5850 11.7950 12.2740 11.8473 10.3582
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend - - - - - - 12.6960 12.1463 10.4854
Direct Growth 14.0348 13.3968 11.5527 14.5993 13.9394 11.9631 12.6961 12.1465 10.4855
Direct Bonus - - - - - - - - -
Lowest
ETF

Growth 12.0485 11.3086 10.2569 12.4839 11.7125 10.5264 11.0156 10.2715 9.6297
Dividend 12.0485 11.3086 10.2569 12.4839 11.7125 10.5264 11.0156 10.2715 9.6297
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend - - - - - - 11.4227 10.4064 9.7031
Direct Growth 12.4955 11.4813 10.2876 12.9430 11.8879 10.5439 11.4226 10.4064 9.7031
699
Direct Bonus - - - - - - - - -
Trading Price

No of Days 365 365 235 365 365 204 365 365 121
ETF - - - - - - - - -
Growth 11.8655 11.0900 10.2846 11.9143 10.9227 10.1314 12.4898 11.3968 10.5744
Dividend 11.8655 11.0900 10.2846 11.9143 10.9228 10.1314 12.4893 11.3964 10.5743
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
700
Direct Dividend 12.2960 11.3297 10.3811 12.3939 11.2024 10.2336 - - -
Direct Growth 12.2960 11.3297 10.3811 12.3939 11.2024 10.2336 12.9398 11.6404 10.6373
Direct Bonus - - - - - - - - -
Income
Income from profit (loss) on sale of investment to third party, per unit (B) ($0.00) - (0.01) (0.04) - (0.00) ($0.00) - -
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) - (0.00) (0.00) (0.01) (0.00) $0.00 (0.02) - (0.00)
Expenses (E)
Net Income (D-E = F) 0.51 0.48 0.25 0.45 0.45 0.24 0.46 0.42 0.13
Net unrealised appreciation/depreciation in value of investments, per unit 0.63 0.36 0.03 0.77 0.23 (0.11) 1.48 0.84 0.44

Repurchase Price #
Highest
ETF - - - - - - - - -
Growth 12.1882 11.7569 10.2873 12.0036 11.5781 10.1360 12.4872 12.0540 10.5766
Dividend 12.1882 11.7569 10.2873 12.0036 11.5782 10.1360 12.4868 12.0540 10.5766
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
701
Direct Dividend 12.5304 11.9835 10.3833 12.3901 11.8441 10.2377 - - 10.0000
Direct Growth 12.5304 11.9835 10.3833 12.3902 11.8441 10.2377 12.9362 12.2805 10.6391
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Growth 10.9660 10.2012 9.5090 10.7924 10.0448 9.4834 11.2658 10.4910 9.7909
Dividend 10.9660 10.2012 9.5090 10.7925 10.0448 9.4834 11.2654 10.4910 9.7909
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -

Direct Dividend 11.2828 10.3031 9.5601 11.1543 10.1548 9.5344 - - 10.0000
Direct Growth 11.2828 10.3031 9.5601 11.1542 10.1548 9.5344 11.5823 10.5613 9.8033
Direct Bonus - - - - - - - - -
Resale Price
Highest
ETF - - - - - - - - -
Growth 12.1882 11.7569 10.2873 12.0036 11.5781 10.1360 12.4872 12.0540 10.5766
702
Dividend 12.1882 11.7569 10.2873 12.0036 11.5782 10.1360 12.4868 12.0540 10.5766
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 12.5304 11.9835 10.3833 12.3901 11.8441 10.2377 - - -
Direct Growth 12.5304 11.9835 10.3833 12.3902 11.8441 10.2377 12.9362 12.2805 10.6391
Direct Bonus - - - - - - - - -
Lowest
ETF

Growth 10.9660 10.2012 9.5090 10.7924 10.0448 9.4834 11.2658 10.4910 9.7909
Dividend 10.9660 10.2012 9.5090 10.7925 10.0448 9.4834 11.2654 10.4910 9.7909
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 11.2828 10.3031 9.5601 11.1543 10.1548 9.5344 - - -
Direct Growth 11.2828 10.3031 9.5601 11.1542 10.1548 9.5344 11.5823 10.5613 9.8033
703
Direct Bonus - - - - - - - - -
Trading Price
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A


Per Unit Particulars (Rupees) Axis Triple Advantage Fund Axis Gold Fund Axis Midcap Fund
Unit Capital (Rupees in '000) 1,508,289 1,642,766 2,064,534 460,321 530,856 652,757 6,129,434 4,015,181 4,453,253
Avg Net asset (Rupees in '000) 2,868,378 3,188,442 3,574,499 486,116 554,985 721,565 16,270,404 12,567,516 12,210,471
No of Days 365 365 365 365 365 365 365 365 365
ETF - - - - - - - - -
Growth 19.0442 18.3408 16.7891 9.9276 9.6258 9.3985 36.42 33.38 27.81
Dividend 15.5326 14.9590 13.6933 9.9394 9.6374 9.4093 23.23 23.64 21.66
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
704
Direct Dividend 17.5026 16.6820 15.1311 10.6329 10.2426 9.9329 28.56 28.16 25.15
Direct Growth 20.3352 19.3770 17.5687 10.6227 10.2334 9.9257 39.20 35.51 29.26
Direct Bonus - - - - - - - - -
Income
Income from profit (loss) on sale of investment to third party, per unit (B) 0.58 1.76 0.99 (0.04) (0.19) (0.07) 2.28 5.36 1.83
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) 0.08 0.02 0.06 - - - $0.00 - $0.00
Transfer to revenue account from past year’s reserve, per unit - - - - - - 0.17 0.25 0.53
Gross Income (A+B+C= D) 1.07 2.44 1.62 (0.03) (0.18) (0.06) 2.68 5.68 2.09
Expenses (E)
Net Income (D-E = F) 0.65 2.05 1.19 (0.10) (0.25) (0.17) 2.06 4.86 1.36
Net unrealised appreciation/depreciation in value of investments, per unit 2.41 2.14 1.95 (0.12) (0.48) (0.77) 4.86 6.77 5.38
Ratio Of Gross Income To Average Net Assets 5.64% 12.59% 9.38% -0.26% -1.68% -0.51% 10.08% 18.15% 7.60%

Repurchase Price #
Highest
ETF - - - - - - - - -
Growth 19.6279 18.1809 16.4013 10.5673 9.6430 10.4630 38.30 33.96 26.98
Dividend 16.0087 14.8286 13.3770 10.5806 9.6540 10.4751 27.13 24.18 22.39
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
705
Direct Dividend 17.9389 16.5280 14.6595 11.3423 10.2856 11.0090 32.50 28.61 25.53
Direct Growth 20.8381 19.1976 17.0296 11.3315 10.2778 11.0025 40.95 36.07 28.38
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Growth 17.1415 16.2923 14.7185 9.3085 8.7927 8.9104 32.03 26.86 22.39
Dividend 13.9808 13.2881 12.0045 9.3202 8.8028 8.9206 21.50 20.92 17.59
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -

Direct Dividend 15.6937 14.6262 13.0757 9.9450 9.3632 9.4108 26.40 24.34 20.37
Direct Growth 18.2324 16.9826 15.1868 9.9366 9.3562 9.4040 34.28 28.31 23.30
Direct Bonus - - - - - - - - -
Resale Price
Highest
ETF - - - - - - - - -
Growth 19.6279 18.7432 16.9086 10.5673 9.7404 10.5687 38.30 35.01 27.81
706
Dividend 16.0087 15.2872 13.7907 10.5806 9.7515 10.5809 27.13 24.93 23.08
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 17.9389 17.0392 15.1129 11.3423 10.3895 11.1202 32.50 29.49 26.32
Direct Growth 20.8381 19.7913 17.5563 11.3315 10.3816 11.1136 40.95 37.19 29.26
Direct Bonus - - - - - - - - -
Lowest
ETF

Growth 17.1415 16.7962 15.1737 9.3085 8.8815 9.0004 32.03 27.69 23.08
Dividend 13.9808 13.6991 12.3758 9.3202 8.8917 9.0107 21.50 21.57 18.13
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 15.6937 15.0786 13.4801 9.9450 9.4578 9.5059 26.40 25.09 21.00
Direct Growth 18.2324 17.5078 15.6565 9.9366 9.4507 9.4990 34.28 29.19 24.02
707
Direct Bonus - - - - - - - - -
Trading Price
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.

Per Unit Particulars (Rupees) Axis Focused 25 Fund Axis Small Cap Fund Axis Arbitrage Fund
No of Days 365 365 365 365 365 365 365 365 365
ETF - - - - - - - - -
Growth 27.10 25.15 21.16 27.64 27.44 24.06 13.3796 12.6373 11.9206
Dividend 17.02 17.53 16.43 22.74 22.57 21.61 10.4860 10.4875 10.4753
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
708
Direct Dividend 26.98 26.45 22.00 24.27 23.83 22.48 11.0452 10.9331 10.8248
Direct Growth 29.23 26.78 22.27 29.32 28.79 24.97 13.8988 13.0265 12.1872
Direct Bonus - - - - - - - - -
Income
Income from profit (loss) on sale of investment to third party, per unit (B) (0.36) 1.78 0.86 5.92 5.31 2.23 (0.37) 0.85 (0.13)
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) $0.00 $0.00 $0.00 - $0.00 (0.00) ($0.00) (0.00) 0.01
Transfer to revenue account from past year’s reserve, per unit 0.08 $0.00 0.05 - 0.55 - 0.16 $0.00 0.15
Gross Income (A+B+C= D) (0.10) 1.94 1.02 6.47 5.55 2.46 0.03 1.08 0.12
Expenses (E)
Net Income (D-E = F) (0.57) 1.51 0.67 5.60 4.82 1.86 (0.06) 1.02 0.06
Net unrealised appreciation/depreciation in value of investments, per unit 2.14 1.54 2.71 3.35 6.34 7.89 0.34 (0.48) 0.27
Ratio Of Gross Income To Average Net Assets -0.49% 12.09% 8.63% 19.50% 21.77% 11.75% 0.21% 14.76% 1.48%

Repurchase Price #
Highest
ETF - - - - - - - - -
Growth 29.86 26.50 20.53 28.65 29.73 24.06 13.3786 12.5721 11.8610
Dividend 20.81 20.58 16.66 23.57 24.46 21.61 10.5249 10.4838 10.4904
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
709
Direct Dividend 31.55 27.81 21.34 24.91 25.76 22.48 11.0796 10.9104 10.8258
Direct Growth 31.95 28.17 21.60 30.10 31.12 24.97 13.8972 12.9584 12.1263
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Growth 24.49 20.62 16.19 24.46 23.86 19.03 12.6264 11.8678 11.1438
Dividend 16.37 16.02 13.60 20.13 21.43 17.09 10.4368 10.3932 10.3520
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -

Direct Dividend 25.91 21.45 16.65 21.39 22.32 17.58 10.8973 10.7506 10.6042
Direct Growth 26.25 21.72 16.84 25.84 24.80 19.53 13.0158 12.1340 11.3007
Direct Bonus - - - - - - - - -
Resale Price
Highest
ETF - - - - - - - - -
Growth 29.86 27.32 21.16 28.65 29.73 24.06 13.3786 12.6353 11.9206
710
Dividend 20.81 21.22 17.18 23.57 24.46 21.61 10.5249 10.5365 10.5431
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 31.55 28.67 22.00 24.91 25.76 22.48 11.0796 10.9652 10.8802
Direct Growth 31.95 29.04 22.27 30.10 31.12 24.97 13.8972 13.0235 12.1872
Direct Bonus - - - - - - - - -
Lowest
ETF

Growth 24.49 21.26 16.69 24.46 23.86 19.03 12.6264 11.9274 11.1998
Dividend 16.37 16.52 14.02 20.13 21.43 17.09 10.4368 10.4454 10.4040
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 25.91 22.11 17.17 21.39 22.32 17.58 10.8973 10.8046 10.6575
Direct Growth 26.25 22.39 17.36 25.84 24.80 19.53 13.0158 12.1950 11.3575
711
Direct Bonus - - - - - - - - -
Trading Price

Per Unit Particulars (Rupees) Axis Children's Gift Fund Axis Equity Saver Fund Axis Emerging Opportunities Fund - Series 1 (1400 Days)
Compulsory No Lock-in Compulsory No Lock-in Compulsory No Lock-in
Lock-in Lock-in Lock-in
No of Days 365 365 365 365 365 365 365 365 93
ETF - - - - - - - - - - - -
Growth 12.9692 12.9676 12.4290 12.4277 11.0567 11.0554 12.79 11.79 10.92 12.36 12.13 10.53
Dividend 12.9762 12.9729 12.4345 12.4332 11.0613 11.0605 - - - 11.35 11.14 10.53
Daily Dividend - - - - - - - - - - - -
Weekly Dividend - - - - - - - - - - - -
Monthly Dividend - - - - - - 10.71 10.59 10.58 - - -
Quarterly Dividend - - - - - - 10.74 10.61 10.73 - - -
Half Yearly Dividend - - - - - - - - - - - -
Annual Dividend - - - - - - - - - - - -
712
Bonus - - - - - - - - - - - -
Regular Dividend - - - - - - 12.42 11.45 10.60 - - -
Retail Growth - - - - - - - - - - - -
Retail Daily Dividend - - - - - - - - - - - -
Retail Weekly Dividend - - - - - - - - - - - -
Retail Monthly Dividend - - - - - - - - - - - -
Direct Regular Dividend - - - - - - 12.35 11.31 10.37 - - -
Direct Dividend 13.6601 13.6600 12.8904 12.8904 11.2841 11.2842 - - - 11.77 11.38 10.58
Direct Growth 13.6681 13.7814 12.8916 12.9900 11.2850 11.3436 13.34 12.17 11.15 12.80 12.38 10.58
Direct Daily Dividend - - - - - - - - - - - -
Direct Weekly Dividend - - - - - - - - - - - -
Direct Monthly Dividend - - - - - - 11.16 10.90 10.76 - - -
Direct Quarterly Dividend - - - - - - 11.21 10.94 10.92 - - -
Direct Half Yearly Dividend - - - - - - - - - - - -
Direct Annual Dividend - - - - - - - - - - - -
Direct Bonus - - - - - - - - - - - -
Income
Income other than profit (loss) on sale
of investment, per unit (A) 0.37 0.33 0.31 0.40 0.37 0.49 0.13 0.11 0.10
Income from profit (loss) on sale of
investment to third party, per unit (B) 0.39 0.63 (0.09) 0.17 1.27 0.65 0.46 1.24 0.02
Income from profit (loss) on inter-scheme
sales/transfer of investment, per unit (C) (0.03) $0.00 0.01 $0.00 0.02 $0.00 (0.01) (0.01) $0.00

Transfer to revenue account from past
year’s reserve, per unit - - - 0.12 0.12 - - 0.01 -
Expenses (E)
Aggregate Of Expenses, Write-Off,
Amortisation and charges, per unit 0.06 0.34 0.30 0.31 0.34 0.40 0.29 0.30 0.07
Net Income (D-E = F) 0.67 0.62 (0.07) 0.25 1.33 0.75 0.29 1.04 0.04
Net unrealised appreciation/depreciation
in value of investments, per unit 0.26 1.44 0.91 0.78 0.13 0.44 0.99 1.06 0.49
Ratio Of Gross Income
To Average Net Assets 5.86% 8.50% 2.35% 4.73% 14.45% 8.23% 4.94% 11.50% 4.43%
Repurchase Price #
Highest
ETF - - - - - - - - - - - -
713
Growth 13.4618 13.4609 12.8852 12.4973 11.0660 10.7328 12.82 11.86 10.82 13.40 12.74 10.53
Dividend 13.4677 13.4664 12.8909 12.5029 11.0706 10.7376 - - - 12.30 12.74 10.53
Daily Dividend - - - - - - - - - - - -
Weekly Dividend - - - - - - - - - - - -
Annual Dividend - - - - - - - - - - - -
Bonus - - - - - - - - - - - -
Retail Growth - - - - - - - - - - - -
Direct Dividend 14.0579 14.0579 13.3374 12.9372 11.2946 10.9558 - - - 12.65 12.95 10.58
Direct Growth 14.0624 14.1771 13.3384 13.0326 11.2955 11.0135 13.34 12.22 11.04 13.75 12.95 10.58

Direct Bonus - - - - - - - - - - - -
Lowest
ETF - - - - - - - - - - - -
Growth 11.7248 11.7240 11.0307 10.6985 9.9297 9.6311 11.83 10.84 9.71 10.84 10.57 10.00
Dividend 11.7311 11.7288 11.0353 10.7035 9.9342 9.6332 - - - 9.96 10.57 10.00
Daily Dividend - - - - - - - - - - - -
Weekly Dividend - - - - - - - - - - - -
Annual Dividend - - - - - - - - - - - -
Bonus - - - - - - - - - - - -
714
Retail Growth - - - - - - - - - - - -
Direct Dividend 12.2785 12.2785 11.2672 10.9293 9.9777 9.6783 - - - 10.25 10.62 10.01
Direct Growth 12.2844 12.3838 11.2681 10.9884 9.9772 9.6956 12.20 11.07 9.79 11.15 10.62 10.01
Direct Bonus - - - - - - - - - - - -
#As per Circulars No.
SEBI/HI/IMD/DF2/CIR/P/2018/92,
repurchase NAV is not declared on AMFI
and hence the details pertains to
NAV declared on AMFI
Resale Price
Highest
ETF - - - - - - - - - - - -
Growth 13.4618 13.4609 12.8852 12.8838 11.0660 11.0647 12.82 11.98 10.93 13.40 12.74 10.53

Dividend 13.4677 13.4664 12.8909 12.8896 11.0706 11.0697 - - - 12.30 12.74 10.53
Daily Dividend - - - - - - - - - - - -
Weekly Dividend - - - - - - - - - - - -
Annual Dividend - - - - - - - - - - - -
Bonus - - - - - - - - - - - -
Retail Growth - - - - - - - - - - - -
715
Direct Dividend 14.0579 14.0579 13.3374 13.3373 11.2946 11.2946 - - - 12.65 12.95 10.58
Direct Growth 14.0624 14.1771 13.3384 13.4357 11.2955 11.3541 13.34 12.34 11.15 13.75 12.95 10.58
Direct Bonus - - - - - - - - - - - -
Lowest
ETF
Growth 11.7248 11.7240 11.0307 11.0294 9.9297 9.9290 11.83 10.95 9.81 10.84 10.57 10.00
Dividend 11.7311 11.7288 11.0353 11.0345 9.9342 9.9311 - - - 9.96 10.57 10.00
Daily Dividend - - - - - - - - - - - -
Weekly Dividend - - - - - - - - - - - -
Annual Dividend - - - - - - - - - - - -
Bonus - - - - - - - - - - - -
Retail Growth - - - - - - - - - - - -

Direct Dividend 12.2785 12.2785 11.2672 11.2673 9.9777 9.9776 - - - 10.25 10.62 10.01
Direct Growth 12.2844 12.3838 11.2681 11.3282 9.9772 9.9955 12.20 11.18 9.89 11.15 10.62 10.01
Direct Bonus - - - - - - - - - - - -
Trading Price
716
Price Earning Ratio (Closing Trading
Price/Net income per unit) N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.

Per Unit Particulars (Rupees) Axis Emerging Opportunities Fund - Series 2 (1400 Days) Axis Bluechip Fund Axis Long Term Equity Fund
No of Days 365 365 33 365 365 365 365 365 365
ETF - - - - - - - - -
Growth 11.91 11.63 10.21 28.29 24.70 20.91 43.7586 40.3272 34.5270
Dividend 11.91 11.63 10.21 15.05 14.47 13.96 20.3690 21.0341 20.1992
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
717
Direct Dividend 12.30 11.83 10.23 16.52 15.53 14.65 36.7359 34.9729 30.9242
Direct Growth 12.30 11.83 10.23 30.42 26.19 21.86 46.9800 42.8555 36.2993
Direct Bonus - - - - - - - - -
Income
Income from profit (loss) on sale of investment to third party, per unit (B) 0.76 0.23 0.02 0.78 4.05 0.78 1.75 4.98 2.73
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) $0.00 (0.00) $0.00 $0.00 (0.00) (0.00) (0.00) (0.00) (0.00)
Transfer to revenue account from past year’s reserve, per unit - - - 0.12 0.22 0.18 0.22 0.03 0.09
Expenses (E)
Net Income (D-E = F) 0.63 0.10 0.05 0.70 3.75 0.55 1.33 4.43 2.29
Net unrealised appreciation/depreciation in value of investments, per unit 1.13 1.49 0.16 3.63 4.71 3.74 5.08 3.72 3.5

Repurchase Price #
Highest
ETF - - - - - - - - -
Growth 12.98 12.28 10.21 29.11 25.12 20.50 46.5110 43.2733 34.5838
Dividend 12.98 12.28 10.21 17.05 16.77 14.83 24.2594 25.3160 22.1420
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
718
Direct Dividend 13.28 12.44 10.23 18.42 17.82 15.44 40.5084 39.1101 30.9741
Direct Growth 13.28 12.44 10.23 31.06 26.59 21.33 49.6369 45.9092 36.3577
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - - - - - -
Growth 10.51 10.24 9.99 24.49 20.41 17.27 38.5560 34.6430 28.7269
Dividend 10.51 10.24 9.99 14.35 13.62 12.49 18.7475 20.2670 18.7848
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -

Direct Dividend 10.78 10.26 10.00 15.53 14.30 13.00 33.6312 31.0451 25.4515
Direct Growth 10.78 10.26 10.00 26.19 21.34 17.95 41.2102 36.4412 29.8722
Direct Bonus - - - - - - - - -
Resale Price
Highest
ETF - - - - - - - - -
Growth 12.98 12.28 10.21 29.11 25.90 21.13 46.5110 43.2733 34.5838
719
Dividend 12.98 12.28 10.21 17.05 17.29 15.29 24.2594 25.3160 22.1420
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 13.28 12.44 10.23 18.42 18.37 15.92 40.5084 39.1101 30.9741
Direct Growth 13.28 12.44 10.23 31.06 27.41 21.99 49.6369 45.9092 36.3577
Direct Bonus - - - - - - - - -
Lowest
ETF

Growth 10.51 10.24 9.99 24.49 21.04 17.80 38.5560 34.6430 28.7269
Dividend 10.51 10.24 9.99 14.35 14.04 12.88 18.7475 20.2670 18.7848
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 10.78 10.26 10.00 15.53 14.74 13.40 33.6312 31.0451 25.4515
Direct Growth 10.78 10.26 10.00 26.19 22.00 18.51 41.2102 36.4412 29.8722
720
Direct Bonus - - - - - - - - -
Trading Price

Per Unit Particulars (Rupees) Axis Equity Advantage Fund - Axis Equity Advantage Fund - Axis Capital Builder Fund - Axis Capital Builder Fund -
Series 1 Series 2 Series 4 (1582 Days) (1540 Days) Series 1
Face Value Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/-
Unit Capital (Rupees in '000) 8,515,977 8,515,977 861,059 861,059 8,461,935 4,422,392 4,422,492
Avg Net asset (Rupees in '000) 9,522,572 8,926,738 915,684 863,758 8,561,481 4,368,663 4,421,513
No of Days 365 311 365 241 101 365 24
ETF - - - - - - -
Growth 11.39 10.74 10.94 10.08 10.57 10.05 10.02
Dividend - - - - 10.57 10.05 10.02
Daily Dividend - - - - - - -
Weekly Dividend - - - - - - -
Monthly Dividend - - - - - - -
Bonus - - - - - - -
721
Retail Growth - - - - - - -
Retail Daily Dividend - - - - - - -
Retail Weekly Dividend - - - - - - -
Retail Monthly Dividend - - - - - - -
Direct Dividend - - - - 10.68 10.22 10.03
Direct Growth 11.73 10.90 11.28 10.21 10.62 10.22 10.03
Direct Daily Dividend - - - - - - -
Direct Weekly Dividend - - - - - - -
Direct Monthly Dividend - - - - - - -
Direct Bonus - - - - - - -
Income
Income other than profit (loss) on sale of investment, per unit (A) 0.30 0.29 0.26 0.17 0.10 0.22 0.04
Income from profit (loss) on sale of investment to third party, per unit (B) 0.16 (0.00) 0.02 (0.02) 0.06 (0.07) (0.00)
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) (0.06) (0.00) - - $0.00 (0.03) $0.00
Transfer to revenue account from past year’s reserve, per unit - - - - - - -
Gross Income (A+B+C= D) 0.40 0.28 0.28 0.15 0.16 0.12 0.04
Expenses (E)
Aggregate Of Expenses,Write-Off,Amortisation and charges, per unit 0.26 0.24 0.30 0.19 0.07 0.25 0.02
Net Income (D-E = F) 0.14 0.04 (0.02) (0.04) 0.09 (0.13) 0.02
Net unrealised appreciation/depreciation in value of investments, per unit 1.21 0.70 1.01 0.13 0.48 0.16 ($0.00)
Ratio Of Expenses To Average Net Assets 2.29% 2.73% 2.80% 2.92% 2.50% 2.54% 2.97%

Ratio Of Gross Income To Average Net Assets 3.56% 3.15% 2.61% 2.28% 5.79% 1.26% 6.17%
Repurchase Price #
Highest
ETF - - - - - - -
Growth 12.04 11.06 11.39 10.37 10.57 10.58 10.02
Dividend - - - - 10.57 10.58 10.02
Bonus - - - - - - -
722
Direct Dividend - - - - 10.68 10.66 10.03
Direct Growth 12.30 11.19 11.63 10.45 10.62 10.66 10.03
Lowest
ETF - - - - - - -
Growth 10.53 9.94 10.16 9.72 9.88 8.95 9.96
Dividend - - - - 9.88 8.95 9.96
Bonus - - - - - - -

Direct Dividend - - - - 9.96 9.04 9.97
Direct Growth 10.78 9.96 10.32 9.75 9.91 9.04 9.97
Resale Price
723
Highest
ETF - - - - - - -
Growth 12.04 11.06 11.39 10.37 10.57 10.58 10.02
Dividend - - - - 10.57 10.58 10.02
Bonus - - - - - - -
Direct Dividend - - - - 10.68 10.66 10.03
Direct Growth 12.30 11.19 11.63 10.45 10.62 10.66 10.03

Lowest
ETF
Growth 10.53 9.94 10.16 9.72 9.88 8.95 9.96
Dividend - - - - 9.88 8.95 9.96
Bonus - - - - - - -
724
Direct Dividend - - - - 9.96 9.04 9.97
Direct Growth 10.78 9.96 10.32 9.75 9.91 9.04 9.97
Trading Price
Highest N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Price Earning Ratio (Closing Trading Price/Net income per unit) N.A. N.A. N.A. N.A. N.A. N.A. N.A.

Per Unit Particulars (Rupees) Axis Dynamic Equity Fund Axis Multicap Fund Axis Gold ETF Axis Nifty ETF
Unit Capital (Rupees in '000) 21,481,225 24,789,334 29,072,360 22,885,569 38,807 60,207 68,707 6,220 6,720
Avg Net asset (Rupees in '000) 25,484,500 24,284,595 27,852,485 22,755,436 1,192,086 1,729,187 2,172,432 69,142 82,832
No of Days 365 243 365 132 365 365 365 365 272
ETF - - - - 2,787.0420 2,711.8181 2,595.9755 1,186.3917 1,019.4243
Growth 10.92 10.35 11.33 10.03 - - - - -
Dividend 10.92 10.35 11.33 10.03 - - - - -
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
725
Direct Dividend 11.23 10.47 11.59 10.09 - - - - -
Direct Growth 11.23 10.47 11.59 10.09 - - - - -
Direct Bonus - - - - - - - - -
Income
Income other than profit (loss) on sale of investment, per unit (A) 0.39 0.21 0.20 0.10 11.21 4.82 (75.94) 15.60 16.71
Income from profit (loss) on sale of investment to third party, per unit (B) 0.16 0.17 (0.07) (0.03) 45.90 (8.74) (9.49) 12.92 89.64
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) (0.04) (0.02) (0.01) (0.01) - - - - -
Gross Income (A+B+C= D) 0.50 0.36 0.12 0.07 57.10 (3.92) (85.43) 28.52 106.35
Expenses (E)
Net Income (D-E = F) 0.22 0.18 (0.10) (0.03) 23.06 (35.63) (119.97) 27.72 105.68
Net unrealised appreciation/depreciation in value of investments, per unit 0.61 0.15 1.28 0.05 99.67 7.38 (133.92) 209.41 60.60
Ratio Of Gross Income To Average Net Assets 4.23% 5.53% 1.25% 1.89% 1.86% -0.14% -2.70% 2.57% 11.58%

Repurchase Price #
Highest
ETF - - - - 2,980.4674 2,748.4623 3,064.3077 1,190.0233 1,117.9964
Growth 11.24 10.46 11.68 10.16 - - - - -
Dividend 11.24 10.46 11.68 10.16 - - - - -
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
726
Direct Dividend 11.45 10.54 11.83 10.19 - - - - -
Direct Growth 11.45 10.55 11.83 10.19 - - - - -
Direct Bonus - - - - - - - - -
Lowest
ETF - - - - 2,604.6689 2,479.2210 2,543.6737 1,020.6931 951.2084
Growth 10.20 9.77 9.88 9.69 - - - - -
Dividend 10.20 9.77 9.88 9.69 - - - - -
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -

Direct Dividend 10.42 9.78 10.04 9.74 - - - - -
Direct Growth 10.42 9.78 10.04 9.75 - - - - -
Direct Bonus - - - - - - - - -
Resale Price
Highest
ETF - - - - 2,980.4674 2,748.4623 3,064.3077 1,190.0233 1,117.9964
Growth 11.24 10.57 11.68 10.26 - - - - -
727
Dividend 11.24 10.57 11.68 10.26 - - - - -
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 11.45 10.65 11.83 10.29 - - - - -
Direct Growth 11.45 10.66 11.83 10.29 - - - - -
Direct Bonus - - - - - - - - -
Lowest
ETF 2,604.6689 2,479.2210 2,543.6737 1,020.6931 951.2084

Growth 10.20 9.87 9.88 9.79 - - - - -
Dividend 10.20 9.87 9.88 9.79 - - - - -
Bonus - - - - - - - - -
Retail Growth - - - - - - - - -
Direct Dividend 10.42 9.88 10.04 9.84 - - - - -
Direct Growth 10.42 9.88 10.04 9.85 - - - - -
728
Direct Bonus - - - - - - - - -
Trading Price
Highest N.A. N.A. N.A. N.A. 2,969.5000 2,720.0500 2,908.9500 1,193.6000 1,118.9000
Lowest N.A. N.A. N.A. N.A. 2,600.1000 2,473.9500 2,484.3500 1,018.3100 852.4800
Closing N.A. N.A. N.A. N.A. 2,778.8500 2,678.0000 2,598.0000 1,181.5000 1,019.0000
Price Earning Ratio (Closing Trading Price/Net income per unit) N.A. N.A. N.A. N.A. 120.49 (75.17) (21.66) 42.62 9.64

Per Unit Particulars (Rupees) Axis Equity Hybrid Fund Axis Growth Opportunities Fund Axis Ultra Short Term Fund Axis Fixed Term Plan - Axis Fixed Term Plan -
Series 95 (1185 Days) Series 96 (1124 Days)
As on As on As on As on As on
Face Value Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/-
Unit Capital (Rupees in '000) 21,955,139 6,522,293 11,063,668 907,011 464,926
Avg Net asset (Rupees in '000) 22,241,870 6,739,982 6,859,828 933,445 470,176
No of Days 235 161 203 271 210
ETF - - - - -
Growth 10.08 10.64 10.4561 10.7343 10.3924
Dividend - 10.64 - - -
Daily Dividend - - 10.0283 - -
Weekly Dividend - - 10.0741 - -
Monthly Dividend 10.08 - 10.0509 - -
Quarterly Dividend 10.08 - - 10.7342 10.3943
Half Yearly Dividend - - - 10.7354 10.3926
Annual Dividend - - - - -
Bonus - - - - -
Regular Dividend 10.08 - 10.4561 10.7359 10.3924
729
Retail Growth - - - - -
Retail Daily Dividend - - - - -
Retail Weekly Dividend - - - - -
Retail Monthly Dividend - - - - -
Direct Regular Dividend 10.19 - 10.5048 - -
Direct Dividend - 10.73 - - -
Direct Growth 10.19 10.73 10.5044 10.7626 10.4078
Direct Daily Dividend - - 10.0288 - -
Direct Weekly Dividend - - 10.0756 - -
Direct Monthly Dividend 10.19 - 10.0581 - -
Direct Quarterly Dividend 10.19 - - 10.7625 -
Direct Half Yearly Dividend - - - - -
Direct Annual Dividend - - - - -
Direct Bonus - - - - -
Income
Income other than profit (loss) on sale of investment, per unit (A) 0.21 0.13 0.29 0.64 0.52
Income from profit (loss) on sale of investment to third party, per unit (B) (0.20) 0.07 $0.00 $0.00 -
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) (0.01) - $0.00 $0.00 -
Transfer to revenue account from past year’s reserve, per unit - - - - -
Gross Income (A+B+C= D) $0.00 0.20 0.29 0.65 0.52
Expenses (E)
Aggregate Of Expenses,Write-Off,Amortisation and charges, per unit 0.15 0.12 0.03 0.01 0.02
Net Income (D-E = F) (0.15) 0.08 0.26 0.63 0.50
Net unrealised appreciation/depreciation in value of investments, per unit 0.21 0.56 0.02 0.12 (0.10)
Ratio Of Expenses To Average Net Assets 2.34% 2.55% 0.79% 0.18% 0.34%

Ratio Of Gross Income To Average Net Assets 0.04% 4.39% 8.47% 8.46% 8.96%
Repurchase Price #
Highest
ETF - - - - -
Growth 10.08 10.66 10.4523 10.7301 10.3873
Dividend - 10.66 - - -
Bonus - - - - -
730
Direct Growth 10.19 10.75 10.5001 10.7582 10.4026
Lowest
ETF - - - - -
Growth 9.18 10.00 10.0000 9.9986 9.8833
Dividend - 10.00 - - -
Bonus - - - - -

Direct Growth 9.22 10.00 10.0000 9.9989 9.8851
Resale Price
731
Highest
ETF
Growth 10.08 10.66 10.4523 10.7301 10.3873
Dividend - 10.66 - - -
Bonus - - - - -
Direct Growth 10.19 10.75 10.5001 10.7582 10.4026

Lowest
ETF
Growth 9.18 10.00 10.0000 9.9986 9.8833
Dividend - 10.00 - - -
Bonus - - - - -
732
Direct Growth 9.22 10.00 10.0000 9.9989 9.8851
Trading Price
Highest N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A.
Price Earning Ratio (Closing Trading Price/Net income per unit) N.A. N.A. N.A. N.A. N.A.

Per Unit Particulars (Rupees) Axis Fixed Term Plan - Axis Fixed Term Plan - Axis Fixed Term Plan - Axis Fixed Term Plan - Axis Fixed Term Plan -
Series 97 (1116 Days) Series 100 (1172 Days) Series 101 (1154 Days) Series 102 (1133 Days) Series 104 (1112 Days)
Face Value Rs.10/- Rs.10/- Rs.10/- Rs.10/- Rs.10/-
Unit Capital (Rupees in '000) 3,405,882 221,541 267,800 318,872 889,872
Avg Net asset (Rupees in '000) 3,460,623 223,662 269,589 320,742 890,909
No of Days 202 69 47 26 4
ETF - - - - -
Growth 10.4490 10.2472 10.1809 10.1202 10.0165
Dividend - - - - -
Daily Dividend - - - - -
Weekly Dividend - - - - -
Monthly Dividend - - - - -
Quarterly Dividend - 10.2472 10.1809 10.1201 10.0165
Half Yearly Dividend 10.4490 - 10.1808 - 10.0165
Bonus - - - - -
Regular Dividend 10.4517 10.2474 10.1809 10.1202 10.0165
733
Direct Regular Dividend - - - - 10.0168
Direct Dividend - - - - -
Direct Growth 10.4589 10.2521 10.1841 10.1220 10.0168
Direct Daily Dividend - - - - -
Direct Weekly Dividend - - - - -
Direct Monthly Dividend - - - - -
Direct Quarterly Dividend - - - 10.1220 10.0168
Direct Half Yearly Dividend 10.4599 - - - 10.0168
Income
Income other than profit (loss) on sale of investment, per unit (A) 0.51 0.16 0.11 0.06 0.01
Income from profit (loss) on sale of investment to third party, per unit (B) - - ($0.00) - -
Income from profit (loss) on inter-scheme sales/transfer of investment, per unit (C) $0.00 - - - -
Transfer to revenue account from past year’s reserve, per unit - - - - -
Gross Income (A+B+C= D) 0.51 0.16 0.11 0.06 0.01
Expenses (E)
Aggregate Of Expenses,Write-Off,Amortisation and charges, per unit 0.02 $0.00 $0.00 $0.00 $0.00
Net Income (D-E = F) 0.48 0.15 0.11 0.06 0.01
Net unrealised appreciation/depreciation in value of investments, per unit (0.03) 0.09 0.08 0.06 0.01
Ratio Of Expenses To Average Net Assets 0.43% 0.24% 0.21% 0.24% 0.13%

Ratio Of Gross Income To Average Net Assets 9.01% 8.36% 8.51% 8.31% 7.41%
Repurchase Price #
Highest
ETF - - - - -
Growth 10.4439 10.2431 10.1769 10.1163 10.0128
Dividend - - - - -
Bonus - - - - -
734
Direct Regular Dividend - 10.0165 - - 10.0130
Direct Dividend - - - -
Direct Growth 10.4537 10.2478 10.1800 10.1180 10.0130
Lowest
ETF - - - - -
Growth 9.9237 9.9885 9.9907 10.0000 10.0000
Dividend - - - - -
Bonus - - - - -

Direct Dividend - - - -
Direct Growth 9.9245 9.9895 9.9911 10.0000 10.0000
Resale Price
735
Highest
ETF
Growth 10.4439 10.2431 10.1769 10.1163 10.0128
Dividend - - - - -
Bonus - - - - -
Direct Growth 10.4537 10.2478 10.1800 10.1180 10.0130

Lowest
ETF
Growth 9.9237 9.9885 9.9907 10.0000 10.0000
Dividend - - - - -
Bonus - - - - -
736
Direct Growth 9.9245 9.9895 9.9911 10.0000 10.0000
Trading Price
Highest N.A. N.A. N.A. N.A. N.A.
Lowest N.A. N.A. N.A. N.A. N.A.
Closing N.A. N.A. N.A. N.A. N.A.
Price Earning Ratio (Closing Trading Price/Net income per unit) N.A. N.A. N.A. N.A. N.A.
VOTING POLICY
1. SEBI vide its circular no. SEBI/IMD/Cir No 18/198647/2010 dated March 15, 2010 read with circular
no. CIR/IMD/DF/05/2014 dated March 24, 2014 and other relevant guidelines / circulars issued by
SEBI from time to time in this regard has stated that mutual funds should play an active role in
ensuring better corporate governance of listed companies. This policy is drafted in pursuance of
above referred circular and clarificatory email received from SEBI from time to time and provides
general philosophy, broad guidelines and procedures for exercising voting rights.
2. Axis Asset Management Company Limited (AMC), Investment Manager to Axis Mutual Fund
(“the Mutual Fund”), shall endeavor to vote on all resolutions which may affect its unitholders
interests, either by postal ballot or through attendance.
3. The AMC shall not give proxy to brokers, for voting on its behalf.
4. Where the holding of the Mutual Fund Scheme(s) is 5% or more of the paid up capital of the
investee company, the AMC may be represented by the concerned Fund Manager or
concerned analyst tracking the stock or any other Equity Fund Manager.
5. Where the holding of the Schemes is less than 5% of the paid up capital of the Investee
Company, the AMC may vote through the postal ballot method.
6. The decision regarding the voting on the resolution, i.e. whether the AMC will (i) attend/not
attend, (ii) vote/abstain, (iii) if voted, for or against the resolution proposed by the Investee
Company will be taken by the Fund Manager in consultation with the Head - Investments.
AMC recognizes that there may be a potential conflict of interest when it decides to vote for /
against Investee Company, on behalf of the Mutual Fund Scheme(s), which is a group company
of AMC or where the Investee Company has substantial investments in the Scheme(s) of the
Mutual Fund. AMC shall specifically review all voting proposals and take decisions with respect
to voting on such proposals in the best interest of the unit holders.
7. The actual exercise of the proxy votes in the AGMs/EGMs of the investee companies will cover
the following matters and will be reported in the SEBI prescribed format:
a. Corporate governance matters, including changes in the state of incorporation,

merger and other corporate restructuring, and anti takeover provisions;
b. Changes to capital structure, including increases and decreases of capital and

preferred stock issuances;
c. Stock option plans and other management compensation issues;
d. Social and corporate responsibility issues;
e. Appointment and Removal of Directors;
f. Any other issue that may affect the interest of the shareholders in general and
interest of the unit-holders in particular.
8. Whenever there is a change in Auditors, Independent Directors, key management personnel of

the Investee Company, the AMC shall be vigilant and make more enquiries, including asking the
Investee Company to provide reasons for the same.
737
9. Any corporate governance issue requiring support from other shareholders may be discussed
with them by the AMC.
10. The Investment Review Committee of AMC will note the action taken in respect of voting in its
meetings.
11. The general policies and procedures stated above for exercising the voting rights in respect of
shares held by the Scheme(s) of the Mutual Fund will be disclosed on the website of the Mutual
Fund as well as in the annual report distributed to the unit holders in terms of the regulatory
requirements.
Updated / Reviewed: October, 2018
738
739
740
741
742
Disclosure of Actual Exercise of Proxy Voting in AGM/EGMs etc of Investee companies across all schemes of Axis Mutual Fund
Details of Votes cast during the Financial year 2018 - 2019
Meeting Company Name Type of Meet- Proposal by Proposal’s Description Investee Vote (For/ Reason Supporting The Vote Decision
Date ings (AGM/ Manage- Company’s Again st/
EGM) ment or Management Abstain)
Shareholder Recommenda-
tion
15-Apr-18 Ambuja Cements Limited PBL Management Approval for related party transactions with ACC Limited For Abstain "Ambuja Cements Limited and ACC Limited, both part of the LafargeHolcim
group of companies were proposed to be merged to achieve long-term opera-
tional benefits; the merger plan has been put on hold on account of constraints
related to transfer of mines. The Master Supply Agreement has been drafted in
order to take advantage of synergies between the two companies in the interim.
Notwithstanding, the company has not specified a time duration for the
agreement. Further, it has not ascribed a monetary value or cap to the pro-
posed transactions. We do not favour such blanket approvals: companies
must disclose sufficient information to enable informed decision-making.
In addition, there is lack of clarity on disclosure levels of the benefits post such
an agreement to each party, which will make it difficult to analyse the flowthrough
of such transactions in two listed entities. Hence, we abstain from this vote."
10-Apr-18 Vesuvius India Ltd. AGM Management To adopttheAudited Financial Statements relatingto the year ended De- For For There is no adverse observation/comment in Auditors report/ Financials and
cember 31,2017andAuditors Reportand Directors Reportthereon. notes to a/cs, hence it can be adopted. The director's report is satisfactory and
can be adopted
10-Apr-18 Vesuvius India Ltd. AGM Management To declare dividend For For Company has generated enough Profits to pay dividend to the shareholders and
in the line with market practise.
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10-Apr-18 Vesuvius India Ltd. AGM Management To Re-appointMr.Tanmay Kumar Ganguly (DINNo. 01272338) as Director For For He is eligible for re-election and has relevant experience in the field.
10-Apr-18 Vesuvius India Ltd. AGM Management To ratify appointment of M/s. Price Waterhouse Chartered Accountants For For It is required under Companies Act.
LLP as Auditors ofthe Company and to fix theirremuneration
10-Apr-18 Vesuvius India Ltd. AGM Management To appoint Mr. Patrick George Felix Andre(DINNo. 07619754) as Director For For He is eligible for re-election and has relevant experience in the field.
17-Apr-18 Schaeffler India Limited AGM Management "To receive, consider and adopt the Financial Statements including For For There is no adverse observation/comment in Audiotrs report/ Financials and
Balance Sheet as at December 31, 2017 and the Statement of Prof- notes to a/cs, hence it can be adopted. The director's report is satisfactory and
it and Loss for the year ended on that date along with Directors’ and can be adopted
Auditors’ Report thereon."
17-Apr-18 Schaeffler India Limited AGM Management To declare Dividend for the year ended December 31, 2017 For For Company has generated enough Profits to pay dividend to the shareholders and
in the line with market practise.
17-Apr-18 Schaeffler India Limited AGM Management "To ratify the appointment of Auditors and to fix their remuneration" For For It is required under Companies Act.
17-Apr-18 Schaeffler India Limited AGM Management "To resolve not to fill up the vacancy caused by retirement of Mr. Dietmar For For No adverse observation on this proposal
Heinrich [DIN: 00928243] by rotation"
17-Apr-18 Schaeffler India Limited AGM Management Appointment of Mr. Marcus Eisenhuth as Director. For For He is eligible for election and has relevant experience in the field.
17-Apr-18 Schaeffler India Limited AGM Management "Appointment of Mr. Avinash Gandhi as an Independent Director." For Against Avinash Gandhi, 80, has been associated with the company for an extended
tenure of 16 years. We believe the length of the tenure is inversely proportionate
to the independence of a director. If the company believes it will benefit from
Avinash Gandhi serving on its board, it should appoint him as non-independent
director
17-Apr-18 Schaeffler India Limited AGM Management Remuneration to the Cost Auditors. For For It is required under Companies Act.
10-May-18 NESTLE INDIA LTD. AGM Management Adoption of Financial Statements for the year ended 31st December,2017. For For This is in line with all statutory requirements
10-May-18 NESTLE INDIA LTD. AGM Management Confirm payment of three interim dividends and declare final dividend For For Payment of dividend is beneficial for shareholders
for the year 2017.
10-May-18 NESTLE INDIA LTD. AGM Management Re-appointment of Mr. Shobinder Duggal (DIN : 00039580), who retires For For This is in line with all statutory requirements
by rotation,
10-May-18 NESTLE INDIA LTD. AGM Management Ratification of appointment of M/s.B S R & Co.LLP, Chartered Accoun- For For This is in line with all statutory requirements
tants (ICAI Registration No. 101248W/W-100022) as Auditors and fixing
their renumeration.
10-May-18 NESTLE INDIA LTD. AGM Management Ratification of Renumeration of M/s Ramanath Iyer & Co., Cost Auditors For For This is in line with all statutory requirements
Firm (Registration No. 00019)
10-May-18 NESTLE INDIA LTD. AGM Management Special Resolution for the re-appointment of Dr.(Mrs.)Swati Ajay Piramal For For Her reappointment is in line with all statutory requirements
(DIN : 00067125) as an Independent Non-Executive Director for another
term of five consecutive years w.e.f.1st April,2019
10-May-18 NESTLE INDIA LTD. AGM Management Special Resolution for payment of renumeration under Section 197 of the For For This is in line with all statutory requirements
Companies Act,2013 to the non-executive directors, for the payment of
five financial years commencing from 1st January,2019.
09-May-18 BHARTI AIRTEL LTD. PBL Management Issue of unsecured / secured redeemable Non-Convertible Debentures / For For This is in line with statutory requirments and will be used for business needs
Bonds by way of Private Placement of the company
10-May-18 TATA COMMUNICATIONS LTD. CCM Management Scheme of Arrangement and Reconstruction among Tata Communica- For For Tata Communications Limited was formed by Tata group’s acquisition of the
tions Limited (“Transferor Company”) and Hemisphere Properties India erstwhile state owned Videsh Sanchar Nigam Limited (VSNL) in 2002. The de-
Limited (“Transferee Company”) and their respective shareholders and merger and proposed sale of the surplus land holdings was envisaged as part of
creditors under Sections 230 to 232 of the Companies Act, 2013 the original divestment of stake in VSNL carried out by the Government of India.
The demerger of land holdings will result in unlocking of value for shareholders
and allow the company to focus on its core business. The economic interest of
the existing minority shareholders of Tata Communications Limited will remain
unchanged.
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03-May-18 CASTROL INDIA LTD AGM Management To receive, consider and adopt the Audited Financial Statements for the For For There is no adverse observation/comment in Audiotrs report/ Financials and
Financial Year ended 31 December 2017 and the Reports of the Board of notes to a/cs, hence it can be adopted. The director's report is satisfactory and
Directors and the Statutory Auditors thereon. can be adopted
03-May-18 CASTROL INDIA LTD AGM Management "To confirm payment of interim dividend and to declare a final For For The total dividend outflow including dividend tax for 2017 is Rs. 5.7 bn. The
dividend on Equity Shares for the Financial Year ended 31 December dividend payout ratio is 82.4%.
2017."
03-May-18 CASTROL INDIA LTD AGM Management To appoint a Director in place of Mr. Jayanta Chatterjee (DIN 06986918), For For Jayanta Chatterjee is Director-Supply Chain. He retires by rotation and is eligible
who retires by rotation and being eligible, offers himself for re-appoint- to seek reappointment. His reappointment is in line with all statutory require-
ment. ments.
03-May-18 CASTROL INDIA LTD AGM Management "To appoint a Director in place of Ms. Rashmi Joshi (DIN 06641898), For For Ms. Rashmi Joshi Director- Finance. She retires by rotation and is eligible to
who retires by rotation and being eligible, offers herself for seek reappointment. Her reappointment is in line with all statutory requirements.
re-appointment."
03-May-18 CASTROL INDIA LTD AGM Management To ratify the appointment of Deloitte Haskins and Sells LLP, Chartered For For The ratification is in line with our Voting Guidelines on Auditor (Re)appointments
Accountants (Firm Reg. No. 117366W/W-100018), as Statutory Auditors and with the requirements of Section 139 of the Companies Act 2013.
of the Company to hold office until the conclusion of the Forty First (41st)
Annual General Meeting, on such remuneration and reimbursement of
out-of-pocket expenses, as may be agreed by the Board of Directors of
the Company from time to time.
03-May-18 CASTROL INDIA LTD AGM Management To consider and ratify the remuneration payable to M/s. Kishore Bhatia & For For The board has approved the appointment of Kishore Bhatia & Associates as cost
Associates, Cost Accountants for the financial year ending 31 December auditors for the year ending 31 December 2018 on a total remuneration of Rs.
2018. 350,000 plus applicable service tax and out of pocket expenses.
26-May-18 TATA CONSULTANCY SERVICES PBL Management Issue of Bonus Shares For For On the occasion of the 50th anniversary of the founding of TCS and with the
LTD. company’s comfortable financial position, TCS proposes a bonus issue of equity
shares in the ratio of 1 bonus share for every share held (1:1 ratio). TCS will be
capitalizing retained earnings of Rs 1.9 bn from overall free reserves of Rs 740.8
bn as on 31 March 2018.
30-May-18 GRUH FINANCE LTD AGM Management Adoption of the Audited Financial Statement and Reports of the Board of For For Accounts have been audited following all the prescribed rules and regulations
Directors and the Auditors thereon for the year ended March 31, 2018. and have no adverse comments from Auditors
30-May-18 GRUH FINANCE LTD AGM Management To declare dividend on equity shares. For For Payment of dividend has no negative impact for minority shareholders
30-May-18 GRUH FINANCE LTD AGM Management To appoint a Director in place of Mr. K. G. Krishnamurthy, (DIN 00012579), For For His re-appointment is in line with all statutory requirements
liable to retire by rotation in terms of Section 152(6) of the Companies Act,
2013 and, being eligible, offers himself for re-appointment.
30-May-18 GRUH FINANCE LTD AGM Management "Ratification of Appointment of M/s. Deloitte Haskins & Sells LLP, For For Their ratification is in line with all statutory requirements
(Firm Registration No. 117366W/W-100018) as Auditors and fixing their
remuneration."
30-May-18 GRUH FINANCE LTD AGM Management Appointment of Ms. Bhavna Doshi (DIN 00400508) as an Independent For For Her appointment is in line with all statutory requirements
Director of the Company for a period of five years w.e.f. January 20, 2018
upto January 19, 2023.
30-May-18 GRUH FINANCE LTD AGM Management Special Resolution for Re-appointment of Mr. Biswamohan Mahpatra For For His re-appointment is in line with all statutory requirements
(DIN 06990345) as an Independent Director of the Company for a period
of five years w.e.f. March 19, 2018 upto March 18, 2023.
30-May-18 GRUH FINANCE LTD AGM Management Appointment of Ms. Renu S Karnad (DIN 00008064) as a Director of For For Her re-appointment is in line with all statutory requirements
the Company.
30-May-18 GRUH FINANCE LTD AGM Management Approval of increase in Authorised Share Capital of the Company from For For The company proposes to increase the authorised share capital to Rs. 2 bn
Rs. 100 crores to Rs. 200 crores. from Rs. 1 bn to accommodate the bonus issue proposed in Resolution 9. The
Capital Clause of Memorandum of Association and Article 3 of the Articles of
Association will need to be altered to reflect the proposed change in the autho-
rized share capital.
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30-May-18 GRUH FINANCE LTD AGM Management Approval of issue of 36,57,20,011 equity shares as Bonus shares in the For For Issue of bonus shares has no negative impact for minority shareholders
ratio of 1:1 to the Shareholders.
30-May-18 GRUH FINANCE LTD AGM Management Special Resolution for Approving increase in the borrowing powers under For For Borrowings is part of normal business activity for HFCs to fund their growth and
Section 180(1)(c) of the Companies Act, 2013 upto Rs. 21,000 crores has no negative impact for minority shareholders
30-May-18 GRUH FINANCE LTD AGM Management Special Resolution for Approval for creation of security or to encumber For For The company proposes to create charges on its assets to secure its borrowings.
immovable and movable properties of the Company under section 180(1) Secured loans generally have easier repayment terms, less restrictive cove-
(a) of the Companies Act, 2013. nants, and lower interest rates.
30-May-18 GRUH FINANCE LTD AGM Management Special Resolution for Approval for issuance of Redeemable Non Con- For For The proposed debentures will be within the company’s borrowing limit and within
vertible Debentures (NCDs) upto an amount not exceeding Rs. 5000 National Housing Bank’s prescribed ceiling of 16 times of Net Owned Funds
crores and issuance of Unsecured Redeemable Subordinated Debt – Tier (NOF).
II NCDs upto an amount of Rs. 100 crores (both aggregating to Rs.5100
crores) on private placement.
01-Jun-18 SUN PHARMACEUTICAL INDUS- CCM Management "RESOLVED THAT pursuant to the provisions of Sections 230 to 232 For For The proposed merger of the business of a subsidiary with the company would
TRIES and Section 234 of the Companies Act, 2013 read with the Companies rationalize operation. The group reorganization is not expected to have a mate-
(Compromises, Arrangements and Amalgamations) Rules, 2016 and rial economic impact on the shareholders of the company.
other applicable provisions of the Companies Act, 2013 and the clauses
of the Memorandum and Articles of Association of Sun Pharmaceutical
Industries Limited (“the Company”) and subject to the approval by the
requisite majority of the Creditors of the Company and Hon’ble National
Company Law Tribunal, Ahmedabad Bench (“NCLT”) and fur-
ther subject to the consents, approvals and permissions be-
ing obtained from appropriate authorities to the extent applica-
ble or necessary, approval of the equity shareholders be and is
hereby accorded to the Scheme of Arrangement among Sun Phar-
ma Global FZE (“Transferor Company”) and the Company and
their respective members and creditors (“Scheme of Arrange-
ment”) for demerger of the Specified Undertaking (as defined
in Scheme of Arrangement) of Transferor Company into the Company, as
a going concern, without any consideration"
18-May-18 SUPREME INDUSTRIES LTD PBL Management "To approve a related party transaction involving the proposed For For We support the sale as it will create product focus using Japanese technology
sale of the Automotive Component manufacturing facility
situated at Khushkhera, Rajasthan."
21-May-18 IDBI BANK LTD PBL Management "Resolution u/s 62(1)(c) of the Companies Act, 2013 to offer, issue and For For The funds from GoI have already been received and the bank proposes to con-
allot equity shares aggregating to Rs 7881 crore to Govt. of India on vert the share application money into capital by issuing the equity shares at an
Preferential Allotment basis." almost 7% premium to current market price. The issuance will result in a 26.2%
dilution on the expanded capital base. The continuing capital raise over the past
few years has resulted in a significant dilution of voting rights for minority share-
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holders. IDBI Bank must stem the deterioration in asset quality which, in turn, will
reduce its capital requirements: the bank’s gross NPA was at an unprecedented
high of 24.7% on 31 December 2017.
21-May-18 IDBI BANK LTD PBL Management "Resolution u/s 13, 14 and 61 of the Companies Act, 2013 for increasing For For "Given that the above preferential allotment to the GoI in resolution #1 will near
Authorised Share Capital of the Bank from Rs 4500 crore to Rs 8000 the limits of the current authorised share capital IDBI Bank proposes an increase
crore." in its authorised capital from Rs 45.0 bn to Rs 80.0 bn divided into 8.0 bn eq-
uity shares of Rs 10 each and a consequent amendment to its MoA and AoA.
Post the infusion by the GoI the issued, paid up and subscribed capital of IDBI
Bank will increase from 3.1 bn equity shares to 4.2 bn equity shares of Rs 10
each"
12-May-18 Arvind Ltd. CCM Management Composite Scheme of Arrangement amongst Arvind Limited, Arvind For For The three-main business segments of Arvind, namely branded retail, engineer-
Fashions Limited, Anveshan Heavy Engineering Limited and The Anup ing, and textile have different industry specific risks, business cycles and operate
Engineering Limited and their respective shareholders and creditors un- under different market dynamics, and thus can attract different types of inves-
der Sections 230 to 232 read with Section 66 and other applicable provi- tors. Therefore, listing of these businesses into three independent listed entities
sions of the Companies Act, 2013. is a more practical way of organizing the business and should be beneficial for all
stakeholders. The valuations assigned to the business is comparable to industry
peers and recent deal in the sector.
12-Jun-18 YES BANK LTD. AGM Management Adoption of standalone and consolidated financial statement for the year For For Accounts have been audited following all the prescribed rules and regulations
ended March 31, 2018 and have no adverse comments from Auditors
12-Jun-18 YES BANK LTD. AGM Management Approval of dividend on equity shares For For For FY18, the bank proposes to pay a final dividend of Rs. 2.7 per share of FV
Rs. 2.0 up 12.50% from Rs 12.0 per share of FV Rs 10.0 paid in FY17. Although
dividend payout has decreased to 17.7% in FY18 from 19.8% in FY17, it is line
with the bank’s dividend policy.
12-Jun-18 YES BANK LTD. AGM Management Appoint a director in place of Mr. Ajai Kumar (DIN: 02446976), who retires For For Ajai Kumar has been senior Strategic Advisor of the Bank from July 14 to Jan
by rotation and being eligible, offers himself for re-appointment 16. Prior to this he was CMD – Corporation Bank. He was appointed as director
liable to retire by rotation in the AGM of FY16. His reappointment is in line with
all statutory requirements.
12-Jun-18 YES BANK LTD. AGM Management "Ratification of appointment of M/s. B. S. R. & Co. LLP., CharteredAccountants For For BSR and Co. (KPMG Group) were the auditors prior to FY12. YES Bank ap-
(Registration No. 101248W/W-100022) as Statutory Auditors and fixation pointed BSR & Co LLP again as statutory auditors for four years in the AGM of
of remuneration thereof" FY16. While the cooling off period for auditor reappointment is five years under
Companies Act 2013, the RBI has recently modified the auditor cooling off period
for private sector banks from two to six years after completion of their current
tenure. YES Bank comes under the purview of the RBI guidelines, the ratifica-
tion of appointment of BSR & Co. till FY20 is in line with all banking statutory
requirements.
12-Jun-18 YES BANK LTD. AGM Management Approval for Appointment of Mr. Subhash Chander Kalia (DIN:00075644) For For Subhash Chander Kalia has been senior Strategic Advisor of the Bank since
as a Director, liable to retire by rotation Oct 2014. He has more than thirty-eight years of experience in Public Sector
Banks and has been ED - Union Bank of India and Vijaya Bank, Chairman of
Regional Rural Bank.
12-Jun-18 YES BANK LTD. AGM Management Approval for Appointment of Mr. Rentala Chandrashekhar (DIN: For For Rentala Chandrashekhar is past president, NASSCOM. He has been the Sec-
01312412) as an Independent Director of the Bank retary to the GoI for Electronics and IT as well as Chairman of the Telecom
Commission of India and Secretary, Telecom. His appointment is in line with all
statutory requirements.
12-Jun-18 YES BANK LTD. AGM Management Approval for Appointment of Dr. Pratima Sheorey (DIN: 08120130) as an For For Dr. Sheorey is currently the Director of Symbiosis Centre for Management and
Independent Director of the Bank. Human Resource Development. She has over 21 years of experience in aca-
demics (marketing), consumer behavior, market research, training and customer
insight mapping. Her appointment is in line with all statutory requirements.
12-Jun-18 YES BANK LTD. AGM Management Approval for re-appointment of Mr. Rana Kapoor (DIN: 00320702), MD&- For For "Rana Kapoor was paid a remuneration of Rs 53.5 mn in FY18, exclud-
CEO of the Bank and to approve the revisions in remuneration ing commission (amount has not been approved by RBI and not been paid
yet). Remuneration paid to him in the past is in line with the performance
of the bank and comparable with that that paid to peers in the industry.
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Rana Kapoor is eligible for an annual increase of 20% (salary + allowances)
over the previous year. Perquisites and retirals will be as per the Bank’s policy.
Further he will also be paid an annual performance bonus as may be determined
by the board the quantum of which has not been capped. As a good practice
banks must disclose an upper-cap on the amount of remuneration (including
commission) that is proposed to be paid to directors."
12-Jun-18 YES BANK LTD. AGM Management Approval for increase in the borrowing limits from Rs.70,000 Crores to For For The Bank is well capitalized - its capital adequacy ratio of 18.4% is much higher
Rs.110,000 Crores than RBI’s minimum requirement under BASEL III norms. Further, YES Banks’s
debt is rated ICRA AA/Stable/ICRA A1+ and Moody’s Baa3 / Stable / Prime-3,
which indicates a high degree of safety regarding timely servicing of financial
obligations. Considering the growth in business and operations of the Bank, its
present and future requirements, YES Bank needs fresh funds. Since YES Bank
is required to maintain its capital adequacy ratio at levels prescribed by the RBI,
we believe that the Bank’s debt levels will be regulated at all times.
12-Jun-18 YES BANK LTD. AGM Management Approval for borrowing/ raising funds in Indian/ foreign currency by issue For For YES Bank seeks approval to borrow/raise funds in Indian /foreign currency by
of debt securities upto Rs.30,000 Crore (the ‘NCDs’) to eligible investors issue of debt securities in one or more tranches upto Rs 300 bn. This limit will be
on private placement basis within the overall borrowing limit of Rs 1100 bn.
12-Jun-18 YES BANK LTD. AGM Management "Approval for raising of capital upto USD 1 Billion by issue of shares For For YES Bank’s Tier I capital adequacy ratio was 13.2% on 31 March 2018. To
or convertible securities in one or more tranches provided how- sustain future growth, the Bank needs to raise capital to meet its growth plans
ever that the aggregate amount raised shall not result in increase and also to maintain its capital adequacy ratio at levels prescribed by the RBI.
of the issued and subscribed equity share capital of the Bank by The bank confirms that overall dilution will not be more than 10% of the current
more than 10% of the then issued and subscribed equity shares of capital base.
the Bank"
12-Jun-18 YES BANK LTD. AGM Management Approval of Employee Stock Option Scheme of the Bank i.e. For For Overall dilution of the entire scheme will be a maximum of 3.15% of the ex-
‘YBL ESOS - 2018’ panded capital base. The exercise price is linked to the market price quoted
on the stock exchange on the previous day on which the options are granted.
Since the options will granted at a price linked to the market price, cost impact
on YES Bank will be negligible. No further grants will be made under previously
approved schemes once ESOP 2018 is approved
12-Jun-18 YES BANK LTD. AGM Management Approval for extending the benefits of Employee Stock Option Scheme For For Through a separate resolution, the bank seeks approval to grant options to the
of the Bank to the eligible Employees of the Subsidiary Companies of employees of its subsidiary companies within the overall ceiling of 75.0 mn op-
the Bank tions. We support the resolution since the subsidiaries are currently unlisted.
14-Jun-18 MAHINDRA & MAHINDRA FINANCIAL PBL Management "Increase in Borrowing limits from Rs. 60,000 crores to Rs. 70,000 For For Increase in borrowing limit is part of normal business activity and has no nega-
crores under Section 180(1)(c) of the Companies Act, 2013 (“the tive impact for minority shareholders
Act”) and creation of charge on the assets of the Company under
Section 180(1)(a) of the Act."
14-Jun-18 MAHINDRA & MAHINDRA FINANCIAL PBL Management "Issue of Secured/Unsecured Redeemable Non-Convertible For For Increase in borrowing limit is part of normal business activity and has no nega-
Debentures including Subordinated Debentures, in one or more tive impact for minority shareholders
series/tranches, aggregating upto Rs. 40,000 crores, on a Private
Placement basis."
13-Jun-18 JUBILANT FOODWORKS LTD PBL Management "Increase in the Authorized Share Capital of the Company and conse- For For The company proposes to increase the authorised share capital to Rs. 1.5 bn
quential alteration to Clause V of the Memorandum of Association of the from Rs. 0.8 bn to accommodate the proposed bonus issue
Company"
13-Jun-18 JUBILANT FOODWORKS LTD PBL Management Issue of Bonus Shares For For The bonus issue is expected to increase the liquidity of the equity shares traded
in the secondary market.
03-Jun-18 UNITED SPIRITS LTD PBL Management Alteration of Capital Clause in the Memorandum of Association For For The board has recommended sub-division of equity shares from Rs. 10 each to
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Rs. 2 each. It proposes to make alterations in the Memorandum of Association
of the company to reflect the sub-division of equity share capital.
03-Jun-18 UNITED SPIRITS LTD PBL Management Alteration of Capital Clause in the Articles of Association For For The board proposes to make appropriate alterations in the Articles of Association
of the company to reflect the sub-division of equity share capital, from Rs. 10
each to Rs. 2 each.
03-Jun-18 UNITED SPIRITS LTD PBL Management To sub-divide Equity Shares of the Company having a face value of Rs. For For United Spirits Limited seeks shareholders’ approval to sub-divide equity shares
10/- per Equity Share to Rs. 2/- per Equity Share and to sub-divide Pref- of Rs.10 each into 5 equity shares of Rs.2 each and preference shares of Rs.100
erence Shares of the Company having a face value of Rs. 100/- per Pref- each into 10 preference shares of Rs. 10 each. The proposed subdivision is
erence Share to Rs. 10/- per Preference Share expected to improve the liquidity of the company’s shares in the stock market.
15-Jun-18 TATA CONSULTANCY SERVICES LTD AGM Management "To receive, consider and adopt: For For Accounts have been audited following all prescribed rules and regulations
a. the Audited Financial Statements of the Company for the financial
year ended March 31, 2018, together with the Reports of the Board of
Directors and the Auditors thereon; and
b. the Audited Consolidated Financial Statements of the Company for
the financial year ended March 31, 2018, together with the Report of the
Auditors thereon."
15-Jun-18 TATA CONSULTANCY SERVICES LTD AGM Management To confirm the payment of Interim Dividends on Equity Shares and to For For Dividend payout is beneficial to shareholders
declare a Final Dividend on Equity Shares for the financial year 2017 -18.
15-Jun-18 TATA CONSULTANCY SERVICES LTD AGM Management To appoint a Director in place of Mr. N. Chandrasekaran (DIN 00121863), For For His reappointment as non-executive director liable to retire by rotation is in line
who retires by rotation and, being eligible, offers himself for re-appoint- with all statutory requirements.
ment.
15-Jun-18 TATA CONSULTANCY SERVICES LTD AGM Management Ratification of appointment of Auditors. For For The ratification is in line with all statutory requirements.
15-Jun-18 TATA CONSULTANCY SERVICES LTD AGM Management Appointment of Ms. Aarthi Subramanian as a Director. For For Her appointment as non-executive director liable to retire by rotation is in line
with all statutory requirements.
15-Jun-18 TATA CONSULTANCY SERVICES LTD AGM Management Appointment of Dr. Pradeep Kumar Khosla as an Independent Director. For For His appointment as independent director is in line with all statutory requirements
15-Jun-18 TATA CONSULTANCY SERVICES LTD AGM Management Appointment of Branch Auditors. For For TCS seeks approval to authorize the board of directors to appoint branch au-
ditors in consultation with the company's auditors and fix their remuneration.
19-Jun-18 Godrej Agrovet Limited PBL Management Approval of the “Godrej Agrovet Limited- Employees Stock Grant For Against At the current market price of Rs. 649.95 per share and exercise price of
Scheme, 2018” (“ESGS 2018”) and allotment of Equity Shares thereunder Rs.10.0, the annual cost to the company is estimated at Rs.535.0 mn over a
to the eligible Employees of the Company. vesting period of three years- this represents 21.5% of consolidated FY17 PAT,
which is relatively high. We do not favour stock option schemes where the ex-
ercise price is at a significant discount to market price. ESOPs are ‘pay at risk’
options that employees accept at the time of grant. The inherent assumption
of an ESOP scheme is that there could be possible downside risks – and that
employees may not be rewarded in case of adverse stock price movements.
Here the downside risk is protected by issuing options at a significant discount.
19-Jun-18 Godrej Agrovet Limited PBL Management Extension of the benefits of “Godrej Agrovet Limited- Employees Stock For Against The company proposes to extend the ESGS 2018 scheme to the employees of
Grant Scheme, 2018” (“ESGS 2018”) to the eligible Employees of the its subsidiary companies. At the current market price of Rs. 649.95 per share
Subsidiary Companies. and exercise price of Rs.10.0, the annual cost to the company is estimated
at Rs.535.0 mn over a vesting period of three years- this represents 21.5% of
consolidated FY17 PAT, which is relatively high. We do not favour stock option
schemes where the exercise price is at a significant discount to market price.
ESOPs are ‘pay at risk’ options that employees accept at the time of grant. The
inherent assumption of an ESOP scheme is that there could be possible down-
side risks – and that employees may not be rewarded in case of adverse stock
price movements. Here the downside risk is protected by issuing options at a
significant discount.
19-Jun-18 Godrej Agrovet Limited PBL Management Increase in the investment limit of the Company upto Rs. 2,500 Crore For For The company is seeking shareholder approval for inter-corporate transactions
(Rupees Two Thousand Five Hundred Crore Only) under Section 186 of upto Rs.25 bn which is significantly higher than the current limit of Rs.7.5 bn. The
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the Companies Act, 2013. company needs to provide some more clarity regarding the use of the increased
limit. As per media reports, the company has submitted a bid for acquiring a
majority stake in Ruchi Soya which is currently going through a bankruptcy reso-
lution process. We understand that the company will need the increased limit to
provide bid guarantees and bank guarantees with respect to the bid.
19-Jun-18 Godrej Agrovet Limited PBL Management Increase in the borrowing powers of the Company upto a limit of Rs. 2,500 For For As on 31 March 2018, the company had outstanding borrowings of Rs.25 bn,
Crore (Rupees Two Thousand Five Hundred Crore Only) under Section as against an existing borrowing limit of Rs. 7.5 bn. The company should give
180 (1) (c) of the Companies Act, 2013. shareholders detailed reasons as to why it plans to raise its borrowing limits.
As per media reports, the company has submitted a bid for acquiring a majority
stake in Ruchi Soya which is currently going through a bankruptcy resolution
process. We understand that the company will need the increased limit to raise
funds with respect to the bid. The company has a credit rating of ICRA A1+/
Stable/ ICRA AA, which denotes high degree of safety regarding timely servicing
of debt obligations.
19-Jun-18 Godrej Agrovet Limited PBL Management To approve creation of Charge / Mortgage / Hypothecation under Section For For The company proposes to create charges on its assets for its borrowings and its
180 (1) (a) of the Companies Act, 2013 against the assets / properties of working capital facilities obtained from banks in the ordinary course of business.
the Company. Secured loans generally have easier repayment terms, less restrictive cove-
nants, and lower interest rates.
23-Jun-18 INFOSYS LTD AGM Management Adoption of financial statements For For Accounts have been audited following all prescribed rules and regulations
23-Jun-18 INFOSYS LTD AGM Management Declaration of Dividend For For Dividend payout is beneficial to shareholders
23-Jun-18 INFOSYS LTD AGM Management Appointment of U.B Pravin Rao as a director liable to retire by rotation For For His appointment is line with statutory requirements
23-Jun-18 INFOSYS LTD AGM Management Ratification of appointment of auditors For For The ratification is in line with the statutory requirements.
02-Jun-18 RAYMOND LTD AGM Management "Adoption of: For For There is no adverse observation/comment in Audiotrs report/ Financials and
(a) The Audited Standalone Financial Statements of the Company for notes to a/cs, hence it can be adopted. The director's report is satisfactory and
the Financial Year ended March 31, 2018 and the Reports of the Board can be adopted
of Directors and Auditors thereon.
(b) The Audited Consolidated Financial Statements of the Company for
the Financial Year ended March 31, 2018 and the Report of Auditors
thereon."
02-Jun-18 RAYMOND LTD AGM Management Declaration of dividend for the year ended March 31, 2018. For For The dividend for FY18 is Rs. 3.0, while it paid a dividend of Rs.1.3 in FY17. The
total dividend outflow (including dividend tax for 2018) is Rs. 0.2 bn and the
dividend payout ratio is 22.6%.
02-Jun-18 RAYMOND LTD AGM Management Re-appointment of Mr. H. Sunder, as Director, who retires by rotation. For Against As per IIAS, H. Sunder, 59, is the former CFO and served the board in an ex-
ecutive capacity till 28 April 2018. He was the President Finance and CFO of
the company when the tripartite agreements to sell J K House at an over 90%
discount to market rates was signed in 2007. During his tenure as President
Finance and as a board member, Raymond had not made any disclosures to
stakeholders regarding these contracts. Thus, we believe H. Sunder, as Pres-
ident Finance and CFO, had failed in his responsibility towards stakeholders.
02-Jun-18 RAYMOND LTD AGM Management Ratification of appointment of Messrs Walker Chandiok & Co. LLP, Char- For For The ratification of Walker Chandiok & Co LLP’s appointment is in line with our
tered Accountants (Firm Registration No. 001076N/N500013) as Statuto- Voting Guidelines on Auditor (Re)appointments and with the requirements of
ry Auditors of the Company and fixing their remuneration. Section 139 of the Companies Act 2013.
02-Jun-18 RAYMOND LTD AGM Management Approval of Cost Auditor’s remuneration. For For The total remuneration proposed is reasonable compared to the size and scale
of the company’s operations.
02-Jun-18 RAYMOND LTD AGM Management Authorize borrowings by way of Issuance of Non-Convertible Debentures/ For For The issuance of securities will be within the overall borrowing limit. Although
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Bonds/Other instruments. Raymond’s credit profile is healthy, reflected in its outstanding CRISIL AA-/Sta-
ble/CRISILA1+ ratings, the company could consider reducing its debt by divest-
ment of its non-productive assets and businesses.
02-Jun-18 RAYMOND LTD AGM Management Payment of remuneration to Mr. Gautam Hari Singhania, Chairman and For Against As per IIAS, Gautam Singhania’s remuneration is open-ended with no cap on
Managing Director, for the period from July 1, 2017 to June 30, 2019. his commission nor his overall remuneration. However, we estimate his remu-
neration at around Rs. 91.6 mn for FY19. His remuneration is higher compared
to peers and not in line with the overall performance of the company. His remu-
neration was ~323x the median employee remuneration in FY18. The median
increase in employee remuneration in FY17 was 0.4 %, while Gautam Singha-
nia’s remuneration increased by 22.8 %.
08-Jun-18 WOCKHARDT LTD PBL Management "Approval for raising of additional capital by way of one or more public or pri- For For "The funds raised will be utilized to redeem preference shares, repay/pre-
vate offerings including through a Qualified Institutions Placement (‘QIP’) to pay debt of the company, meet the R&D expenses and other general corpo-
eligible investors through an issuance of equity shares or other eligible rate purposes. If Wockhardt were to raise the entire Rs. 15.0 bn at the cur-
securities for an amount not exceeding Rs. 1,500 Crore (Rupees One rent market price of Rs. 708.7, it will have to issue ~21.1 mn shares: this will
Thousand Five Hundred Crore Only)" result in an equity dilution of ~ 16.0% on the post issuance share capital.
The consolidated borrowings stood at Rs. 26.1 bn on 31 March 2018, with
Debt-EBITDA ratio of ~21.4x and a Debt/Equity ratio of 0.9x. The incremental
equity will enable it to improve its existing capital structure."
05-Jun-18 SHRIRAM TRANSPORT FINANCE PBL Management Issue of Debentures on Private Placement Basis For For The proposed issuance will be within the overall proposed borrowing limit of
CO.L Rs. 1.25 trillion.
05-Jun-18 SHRIRAM TRANSPORT FINANCE PBL Management Enhancement of limits of borrowing by the Board For For As on 31 March 2018, the company had outstanding borrowings of Rs. 633.2
CO.L bn, as against an existing borrowing limit of Rs. 900 bn. The company has plans
to disburse an additional Rs. 575 bn in FY19 as a part of its growth plans. The
capital adequacy ratio as on 31 March 2018 is 16.9% as against a minimum 15%
as required by regulatory norms. Debt levels in an NBFC are typically reined in
by the regulatory requirement of maintaining a slated minimum capital adequacy
ratio. The company has a credit rating of CRISIL AA+/Stable/CRISIL A1+, which
denotes high degree of safety regarding timely servicing of debt obligations
05-Jun-18 SHRIRAM TRANSPORT FINANCE PBL Management "Enhancement of limits for creation of Security by the Board in For For The company proposes to create charges on its assets for its borrowings as
CO.L connection with borrowing" well as its working capital facilities obtained from banks in the ordinary course of
business. Secured loans generally have easier repayment terms, less restrictive
covenants, and lower interest rates
12-Jun-18 CONTAINER CORPORATION OF PBL Management Approval for sub-division of Company’s one Equity Share of Rs.10/-(Ru- For For Based on provisions of the DIPAM guidelines for splitting of shares, the Board
INDIA pees ten) each into two Equity Shares of face value of Rs.5/- (Rupees has recommended the sub-division of equity shares. Container Corporation of
five) each India Limited seeks shareholders’ approval to sub-divide equity shares of Rs.10
each into 2 equity shares of Rs.5 each. The authorized equity share capital of
Rs.4 bn comprised of 400 mn equity shares of Rs.10 each will be sub-divided
into 800 mn equity shares of Rs.5 each.
12-Jun-18 CONTAINER CORPORATION OF PBL Management Approval to Amend the Capital Clause in the Memorandum of Association For For The board has recommended sub-division of equity shares from Rs. 10 each to
INDIA of the Company Rs. 5 each. It proposes to make alterations in the Memorandum of Association
of the company to reflect the sub-division of equity share capital.
15-Jun-18 AMBUJA CEMENTS LTD. AGM Management "To consider and adopt the Annual Accounts for the year ended 31st For For There is no adverse observation/comment in Audiotrs report/ Financials and
December, 2017 & Reports of the Directors and Auditors thereon." notes to a/cs, hence it can be adopted. The director's report is satisfactory and
can be adopted
15-Jun-18 AMBUJA CEMENTS LTD. AGM Management "To confirm the payment of Interim Dividend and to declare a final For For Company has generated enough Profits to pay dividend to the shareholders and
dividend on Equity Shares for the Financial Year ended 31st Decem- in the line with market practise.
ber,2017."
15-Jun-18 AMBUJA CEMENTS LTD. AGM Management "To re-appoint Mr. Christof Hassig as a Director, who retires by rotation." For For He is eligible for re-election and has relevant experience in the field.
15-Jun-18 AMBUJA CEMENTS LTD. AGM Management "To re-appoint Mr. Martin Kriegner as a Director, who retires by rotation." For For He is eligible for re-election and has relevant experience in the field.
15-Jun-18 AMBUJA CEMENTS LTD. AGM Management "To ratify the appoint M/s. Deloitte Haskins & Sells, Chartered For For It is required under Companies Act.
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Accountants as Statutory Auditors"
15-Jun-18 AMBUJA CEMENTS LTD. AGM Management To appoint Mr. Jan Jenisch as a Director For For He is eligible for election and has relevant experience in the field.
15-Jun-18 AMBUJA CEMENTS LTD. AGM Management To appoint Mr. Roland Kohler as a Director. For For He is eligible for election and has relevant experience in the field.
15-Jun-18 AMBUJA CEMENTS LTD. AGM Management "To ratify the payment of remuneration to the Cost Auditors, M/s.P.M. For For It is required under Companies Act.
Nanabhoy & Co.,Cost Accountants"
15-Jun-18 AMBUJA CEMENTS LTD. AGM Management "To approve renewal of the “Technology and Know How Agreement” with For For We have discussed the proposal and are satisfied with the applicability fo this
Holcim Technology Limited." fees in return for higher operational efficiencies/manufacturing benefits of the
business
21-Jun-18 KANSAI NEROLAC PAINTS LTD. AGM Management "To receive, consider and adopt the Financial Statements of the Compa- For For Accounts have been audited following all prescribed rules and regulations
ny for the year ended 31st March, 2018 including audited Balance Sheet
as at 31st March, 2018 and Statement of Profit and Loss for the year
ended on that date and the Reports of the Directors and the Auditors
thereon."
21-Jun-18 KANSAI NEROLAC PAINTS LTD. AGM Management "To declare a normal dividend of Rs. 2.60 (260%) per Equity Share of For For Dividend payout is beneficial to shareholders
the nominal value of Rs. 1 each for the year ended 31st March, 2018"
21-Jun-18 KANSAI NEROLAC PAINTS LTD. AGM Management "To appoint a Director in place of Mr. Masaru Tanaka (holding DIN For For His appointment is line with statutory requirements
06566867), who retires by rotation and being eligible, offers himself for
re-appointment."
21-Jun-18 KANSAI NEROLAC PAINTS LTD. AGM Management "To appoint a Director in place of Mr. Hidenori Furukawa (holding DIN For For His appointment is line with statutory requirements
re-appointment."
21-Jun-18 KANSAI NEROLAC PAINTS LTD. AGM Management "To appoint a Director in place of Mr. Katsuhiko Kato (holding DIN For For His appointment is line with statutory requirements
re-appointment."
21-Jun-18 KANSAI NEROLAC PAINTS LTD. AGM Management "To appoint B S R & Co. LLP, Chartered Accountants as Auditors of the For For The ratification is in line with the statutory requirements.
Company,to hold office from the conclusion of this meeting until the
conclusion of the next Annual General Meeting of the Company and that
their remuneration be fixed by the Audit Committee in addition to the
reimbursement of service tax and actual out of pocket expenses incurred
in connection with the audit of accounts of the Company for the financial
year ending 31st March, 2019.”"
21-Jun-18 KANSAI NEROLAC PAINTS LTD. AGM Management Ratification of remuneration of Cost Auditors for the year ending 31st For For The total remuneration proposed is reasonable compared to the size and scale
March 2019 of the company’s operations.
21-Jun-18 KANSAI NEROLAC PAINTS LTD. AGM Management "Reappointment of Mr. Anuj Jain For For He has been associated with the company since June 1990 and was Director
(holding DIN 08091524) as a Whole-time Director of the Company" – Decorative and Industrial Sales & Marketing prior to his appointment on the
board. The proposed remuneration at Rs 19.5 mn is commensurate with the size
and complexity of the business
20-Jun-18 AXIS BANK LTD. AGM Management "To receive, consider and adopt: For For There is no adverse observation/comment in Audiotrs report/ Financials and
a. the audited standalone financial statements of the Bank for the notes to a/cs, hence it can be adopted. The director's report is satisfactory and
financial year ended 31st March 2018 and the Reports of the Directors can be adopted
and the Auditors thereon; and
b. the audited consolidated financial statements for the financial year
ended 31st March 2018 and the Report of the Auditors thereon."
20-Jun-18 AXIS BANK LTD. AGM Management "To appoint a director in place of Shri Rajiv Anand (DIN For For Rajiv Anand is Executive Director (Retail Banking) of Axis Bank. He was appoint-
02541753), who retires by rotation and being eligible, has offered ed on the Board of Axis Bank on 12 May 2016. He retires by rotation and his
himself for re-appointment." reappointment is in line with all statutory requirements.
20-Jun-18 AXIS BANK LTD. AGM Management "To appoint a director in place of Shri Rajesh Dahiya (DIN For For Rajesh Dahiya is Executive Director (Corporate Centre) of Axis Bank. He was
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07508488), who retires by rotation and being eligible, has offered appointed on the Board of Axis Bank on 12 May 2016. He retires by rotation and
himself for re-appointment" his reappointment is in line with all statutory requirements.
20-Jun-18 AXIS BANK LTD. AGM Management Appointment of M/s. Haribhakti & Co. LLP, Chartered Accountants, Mum- For For Axis Bank proposes to appoint Haribhakti & Co. LLP as statutory auditors for
bai, (Registration Number 103523W/W100048) as the Statutory Auditors four years.S. R. Batliboi & Co LLP were the previous auditors, and they com-
of the Bank and to hold office as such from the conclusion of 24th Annual pleted their four-year tenure in FY18. The appointment is in line with all statutory
General Meeting until the conclusion of 28th Annual General Meeting and requirements.
payment of remuneration as may be decided by the Audit Committee of
the Board.
20-Jun-18 AXIS BANK LTD. AGM Management Appointment of Shri Stephen Pagliuca as the Non – Executive (Nomi- For For Stephen Pagliuca is Co-Chair of Bain Capital. He will represent Bain Capital’s
nee) Director of the Bank, for a period of 4 consecutive years, w.e.f. 19th holding in Axis Bank. His appointment is in line with all statutory requirements.
December 2017.
20-Jun-18 AXIS BANK LTD. AGM Management Payment of remuneration to Dr. Sanjiv Misra (DIN 03075797) as the For For Dr. Sanjiv Misra’s remuneration in FY18 was Rs. 4.6 mn. The proposed terms
Non-Executive (Part-Time) Chairman of the Bank, for a period of one of remuneration for FY19 remain largely unchanged from FY18 levels. The
year, w.e.f. 18th July 2018. proposed remuneration is in line with the size and complexity of the bank and
comparable to peers in the banking industry.
20-Jun-18 AXIS BANK LTD. AGM Management Re-appointment of Smt. Shikha Sharma (DIN 00043265) as the Manag- For For Shikha Sharma’s proposed fixed remuneration is estimated at Rs 59.0 mn in
ing Director & CEO of the Bank, from 1st June 2018 up to 31st December FY19 (Rs 52.3 mn in FY18). Her total pay, including ESOPs computed at fair
2018 (both days inclusive) and the terms and conditions relating to the value, at the upper-end is estimated at Rs 184.2 mn (FY18 Rs 140.7 mn), which
said re-appointment, including remuneration. is lower than in FY17 (Rs 200.6 mn) and 2016 (Rs 214.5 mn). The proposed
remuneration comprises a marginal increase in fixed pay and is consistent with
the size and complexities of the business of Axis Bank and comparable to that
paid to her peers in the industry.
20-Jun-18 AXIS BANK LTD. AGM Management Revision in the remuneration payable to Shri V. Srinivasan (DIN For For V. Srinivasan’s proposed fixed remuneration is estimated at Rs 37.1 mn in FY19
00033882) as the Deputy Managing Director of the Bank, w.e.f. 1st June (Rs 33.5 mn in FY18). His total pay, including ESOPs computed at fair value, at
2018. the upper-end is estimated at Rs 109.6 mn (FY18 Rs 81.3 mn), which is lower
than in FY17 (Rs 113.3 mn) and 2016 (Rs124.4 mn). The proposed remunera-
tion comprises a marginal increase in fixed pay and is consistent with the size
and complexities of the business of Axis Bank and comparable to that paid to
his peers in the industry.
20-Jun-18 AXIS BANK LTD. AGM Management "Revision in the remuneration payable to Shri Rajiv Anand For For Rajiv Anand was appointed on the Board of Axis Bank on 12 May 2016. His
(DIN 02541753) as the Executive Director (Retail Banking) of the Bank, FY19 fixed remuneration is estimated at Rs 28.1 mn (FY18 Rs 27.4 mn). His to-
for period of one year, w.e.f. 1st June 2018" tal pay, including ESOPs computed at fair value, at the upper-end is estimated at
Rs 99.1 mn, (FY18 Rs 76.4 mn). The proposed remuneration comprises a mar-
ginal increase in fixed pay and is consistent with the size and complexities of the
business of Axis Bank and comparable to that paid to his peers in the industry.
20-Jun-18 AXIS BANK LTD. AGM Management "Revision in the remuneration payable to Shri Rajesh Dahiya For For Rajesh Dahiya was appointed on the Board of Axis Bank on 12 May 2016. His
(DIN 07508488) as the Executive Director (Corporate Centre) of the FY19 fixed remuneration is estimated at Rs 25.1 mn (FY18 Rs 20.1 mn). His
Bank, for period of one year, w.e.f. 1st June 2018." total pay, including ESOPs computed at fair value, at the upper-end is estimated
at Rs 90.4 mn (FY18 Rs 65.6 mn). The proposed remuneration comprises a mar-
ginal increase in fixed pay and is consistent with the size and complexities of the
business of Axis Bank and comparable to that paid to his peers in the industry.
20-Jun-18 AXIS BANK LTD. AGM Management "Increase in the borrowing limits of the Bank upto Rs. 200,000 crore, For For Axis Bank needs fresh long-term funds for business growth. The bank proposes
under Section 180 (1) (c) of the Companies Act, 2013. 12" to increase borrowing limits to Rs 2.0 trillion. The total capital adequacy ratio of
the Bank, as on 31 March 2018, in accordance with RBI guidelines on Basel
III was 16.6% with a Tier-1 capital adequacy ratio of 13.0%. Axis Bank’s debt
is rated CRISIL AA+/Stable/A1+, ICRA AA+/Stable/A1+, IND AA+/Stable/A1+,
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S&P Ratings BBB-/Stable, Moody’s Baa3/Stable, FITCH BBB-/Stable. Since
Axis Bank is required to maintain its capital adequacy ratio at levels prescribed
by the RBI, the debt levels will be regulated at all times.
20-Jun-18 AXIS BANK LTD. AGM Management by issue of Debt Securities including but not limited to long term bonds, For For These debt instruments issued will be within the Bank’s overall borrowing limits
green bonds, masala bonds, non-convertible debentures, perpetual debt of Rs 2.0 trillion as above.
instruments and Tier II capital bonds or such other debt securities as may
be permitted under the RBI guidelines, from time to time, on a private
placement basis, for an amount of upto Rs. 35,000 crore, during a period
of one year, from the date of passing of this Resolution.
26-Jun-18 ASIAN PAINTS LTD AGM Management Adoption of financial statements of the Company for the financial year For For Accounts have been audited following all prescribed rules and regulations
ended 31st March, 2018 together with the reports of the Board of Direc-
tors and Auditors’ thereon
26-Jun-18 ASIAN PAINTS LTD AGM Management Declaration of dividend on equity shares for the financial year ended 31st For For Dividend payout is beneficial to shareholders
March, 2018
26-Jun-18 ASIAN PAINTS LTD AGM Management Re-appointment of Mr. Ashwin Choksi (DIN: 00009095) as a Non-Execu- For For His appointment is line with statutory requirements
tive Director of the Company
26-Jun-18 ASIAN PAINTS LTD AGM Management Re-appointment of Mr. Ashwin Dani (DIN: 00009126) as a Non-Executive For For His appointment is line with statutory requirements
Director of the Company
26-Jun-18 ASIAN PAINTS LTD AGM Management Ratification of remuneration payable to M/s. RA & Co., Cost Accountants For For The ratification is in line with the statutory requirements.
(Firm Registration Number 000242), Cost Auditors, of the Company for
the financial year ending 31st March, 2019
29-Jun-18 HINDUSTAN UNILEVER LTD. AGM Management Adoption of Financial Statements together with the Reports of Board of For For Accounts have been audited following all prescribed rules and regulations
Directors’ and Auditors’ thereon for the financial year ended 31st March,
2018
29-Jun-18 HINDUSTAN UNILEVER LTD. AGM Management Confirmation of interim dividend and declaration of final dividend For For Dividend payout is beneficial to shareholders
29-Jun-18 HINDUSTAN UNILEVER LTD. AGM Management Re-appointment of Mr. Pradeep Banerjee as Director For For His appointment is line with statutory requirements
29-Jun-18 HINDUSTAN UNILEVER LTD. AGM Management Re-appointment of Mr. Dev Bajpai as Director For For His appointment is line with statutory requirements
29-Jun-18 HINDUSTAN UNILEVER LTD. AGM Management Re-appointment of Mr. Srinivas Phatak as Director For For His appointment is line with statutory requirements
29-Jun-18 HINDUSTAN UNILEVER LTD. AGM Management Re-appointment of Mr. Sanjiv Mehta as Managing Director & CEO for a For For His appointment is line with statutory requirements
further period of five years
29-Jun-18 HINDUSTAN UNILEVER LTD. AGM Management Ratification of the remuneration of M/s. RA & Co, Cost Accountants for the For For The ratification is in line with the statutory requirements.
financial year ending 31st March, 2019
29-Jun-18 HDFC BANK LTD AGM Management To receive, consider and adopt the audited financial statements (stand- For For Accounts have been audited following all the prescribed rules and regulations
alone and consolidated) of the Bank for the year ended March 31, 2018 and have no adverse comments from Auditors
and the Reports of the Board of Directors and Auditors thereon.
29-Jun-18 HDFC BANK LTD AGM Management To declare dividend on equity shares. For For Payment of dividend has no negative impact for minority shareholders
29-Jun-18 HDFC BANK LTD AGM Management To appoint a director in place of Mr. Keki Mistry (DIN 00008886) who For For His reappointment is in line with the statutory requirements
retires by rotation and, being eligible, offers himself for re-appointment.
29-Jun-18 HDFC BANK LTD AGM Management Appointment of StatutoryAuditors and xing of their remuneration For For The appointment of S.R. Batliboi is in-line with the statutory requirements
29-Jun-18 HDFC BANK LTD AGM Management Approval of related party transactions withHDFCLimited pursuant to ap- For For The transactions are in the ordinary course of business and on an arm’s length
plicable provisions basis
29-Jun-18 HDFC BANK LTD AGM Management Approval of related party transactions with HDB Financial Services Limit- For For The transactions are in the ordinary course of business of the Bank and on an
ed pursuant to applicable provisions arm’s length basis
29-Jun-18 HDFC BANK LTD AGM Management Raising of additional capital For For The issuance of debt securities on private placement basis will be within the
bank’s overall borrowing limit of Rs. 500.0 bn over and above the aggregate of
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paid up capital and free reserves
22-Jun-18 Camlin Fine Sciences Ltd EGM Management Raising of Funds For For "Camlin Fine Sciences requires capital for expansion/diversification of busi-
ness and other corporate purposes. The company proposes to raise upto
Rs 2.5 bn through a mix of equity shares, GDRs, ADRs, foreign currency
convertible bonds (FCCBs), convertible or non-convertible or partly convert-
ible debentures and such other securities in Indian and/or international mar-
kets. The issue will result in a dilution of around 18.5% on post issue capital
for existing shareholders (at current market price of Rs. 90.9 per share, in
order to raise Rs. 2.5 bn, ~ 27.5 mn fresh shares need to be allotted). The
holdings of all shareholders including the promoters would be diluted equally.
Although, management has confirmed that their initial aim is to secure funding
via bank loans and not dilute minorities. This proposal is only contingency in
case they are unable to raise such funds"
27-Jun-18 DEWAN HOUSING FINANCE CORPN AGM Management To receive, consider and adopt the Audited Financial Statements (Stand- For For There is no adverse observation/comment in Audiotrs report/ Financials and
LT alone and Consolidated) of the Company for the financial year ended notes to a/cs, hence it can be adopted. The director's report is satisfactory and
March 31, 2018 and the Reports of the Board of Directors and Statutory can be adopted
Auditors thereon.
27-Jun-18 DEWAN HOUSING FINANCE CORPN AGM Management To confirm the payment of interim dividend and to declare the final divi- For For Dividend per share in FY18 has increased to Rs.5.5 per equity share from Rs.4.0
LT dend on equity shares for the financial year ended March 31, 2018 paid in the previous year. The dividend payout ratio has also moved up to 17.7%
compared to 5.2% in previous year. However, it still is lower than 38.5% that
was paid in 2016.
27-Jun-18 DEWAN HOUSING FINANCE CORPN AGM Management To appoint a Director in place of Mr. Dheeraj Wadhawan (DIN-00096026) For For Dheeraj Wadhawan is one of the promoters of the company. He has been part
LT who retires by rotation at this Annual General Meeting and being eligible, of the board as a Non-Executive Director since May 2008. He retires by rotation
offers himself for re-appointment and his reappointment is in line with the statutory requirements. We note Dheer-
aj Wadhawan has attended 50% of the board meetings in 2018. We expect
directors to take their responsibilities seriously and attend all board meetings.
We raise a concern
27-Jun-18 DEWAN HOUSING FINANCE CORPN AGM Management To appoint M/s. Deloitte Haskins & Sells LLP, Chartered Accountants For For The appointment of Deloitte Haskins & Sells LLP as joint auditors along with
LT (Firm Registration Number 117366W/W-100018) as Joint Statutory Audi- current statutory auditors Chaturvedi & Shah is in line with our Voting Guidelines
tors of the Company along with existing statutory auditors, M/s. Chaturve- on Auditor (Re)appointments and with the requirements of Section 139 of the
di & Shah, Chartered Accountants (Firm Registration Number 101720W) Companies Act 2013.
27-Jun-18 DEWAN HOUSING FINANCE CORPN AGM Management Issuance of Non- Convertible Debentures on Private Placement Basis. For For DHFL proposes to issue non-convertible secured/unsecured redeemable de-
LT bentures up to Rs.200bn, non-convertible subordinated unsecured debentures
up to Rs.15 bn and non-convertible perpetual unsecured debentures up to Rs.15
bn. The proposed issuance will be within the overall borrowing limit.
27-Jun-18 ALLAHABAD BANK AGM Management "To discuss, approve and adopt the Balance Sheet, Profit & Loss For For There is no adverse observation/comment in Audiotrs report/ Financials and
Account of the Bank as at and for the year ended 31st March, notes to a/cs, hence it can be adopted. The director's report is satisfactory and
2018, the Report of the Board of Directors on the working and ac- can be adopted
tivities of the Bank for the period covered by the Accounts and
the Auditors' Report on the Balance Sheet and Accounts."
27-Jun-18 ALLAHABAD BANK AGM Management To raise equity capital through QIP/ FPO/ Rights issue etc. For For If the entire issue of Rs 19.0 bn is subscribed at current market price of Rs 41.9
per share, the bank will issue ~ 453.5 mn shares to non-promoter shareholders.
This will result in a dilution of 27.4% on the expanded equity base (post the GoI
infusion in March 2018). The capital infusion is necessary to shore up the bank’s
capital adequacy levels and fuel growth. Allahabad Bank’s free float market cap-
ital is Rs 44.2 bn1 – therefore, its ability to raise Rs 19.0 bn from non-promoter
shareholders is limited. While the bank needs to raise equity to support its capital
adequacy levels, it is unlikely to raise the entire amount.
28-Jun-18 Infibeam Incorporation Limited EGM Management "Approval for Change of Name of The Company from ""Infibeam For For As Avenues (India) Private Limited has been merged with Infibeam, the business
Incorporation Limited"" to ""Infibeam Avenues Limited"" and consequent activities of Infibeam have expanded into Online Payment Gateway, online res-
amendment to Memorandum of Association and Articles of Associa??on ervation solution for hotels, online event and admission collection solution etc.
755
and other documents of the Company" The company believes the new name is a better representation of its business.
28-Jun-18 Infibeam Incorporation Limited EGM Management "Alteration of the Object Clause of the Memorandum of Association of For For The company intends to widen the scope of business activities and expand into
the Company" online payment gateway, payments bank, manufacture of IT online advertising
and ticketing for entertainment, etc. The company proposes to amend certain
object clauses and insert new object clauses under the Object Clause of the
Memorandum of Association.
28-Jun-18 Infibeam Incorporation Limited EGM Management Further Issue of Securi??es For For Based on current market price, the issuance will result in a maximum dilution of
16.7% for existing shareholders. The holdings of all shareholders including the
promoters would be diluted equally.
26-Jun-18 ICICI Prudential Life Insuranc AGM Management "Adoption of: (a) For For There is no adverse observation/comment in Audiotrs report/ Financials and
the standalone Audited Revenue Account, Profit and Loss Account notes to a/cs, hence it can be adopted. The director's report is satisfactory and
and Receipts and Payments Account of the Company for the financial can be adopted
year ended March 31, 2018, and the Balance Sheet as at that
date, together with the Reports of the Directors and Auditors
(b) the consolidated Audited Revenue Account, Profit and Loss Account
and Receipts and Payments Account of the Company for the financial
year ended March 31, 2018, and the Balance Sheet as at that date, to-
gether with the Reports of the Auditors."
26-Jun-18 ICICI Prudential Life Insuranc AGM Management "To declare dividend on equity shares." For For "ICICI Pru Life proposes to pay final dividend of Rs. 3.3 per share (of face value Rs 10.0)
including a special dividend of Rs. 1.1 per share, for FY18. In addition, the company has
paid Rs 3.4 per share as an interim dividend during the year.Total dividend for FY18 is Rs
6.7 per share and the dividend payout is 71.5%."
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Re-appointment of Mr. Puneet Nanda (DIN: 02578795), who retires by For For "Puneet Nanda has been with the company since inception and currently heads the
rotation Business Center of the company. He has been on the board of ICICI Pru Life for 8 years.
His re-appointment meets all statutory requirements."
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Re-appointment of Mr. Sandeep Batra (DIN: 03620913), who retires by For For "Sandeep Batra has been working with ICICI group for the last 17 years. He
rotation looks after the functions of Investments, Actuarial, Finance, and Risk & Compli-
ance. He has been on the board of ICICI Pru Life for 4 years. His re-appoint-
ment meets all statutory requirements."
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Ordinary Resolution for appointment of Mr. R. K. Nair, (DIN: 07225354) as For For "R.K Nair has 40 years of experience in the banking sector and worked in the
an Independent Director of the Company. field of securities and insurance regulation. He was an Executive Director at
Securities and Exchange Board of India (SEBI), joined Insurance Regulatory
and Development Authority of India (IRDAI) as Member (Finance and Invest-
ment). Before this he served as the MD of Corporation Bank Securities Limited.
He holds directorship positions at ICICI Bank and two other ICICI subsidiaries
namely ICICI Prudential Trust Ltd and ICICI Securities Primary Dealership Ltd."
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Ordinary Resolution for appointment of Mr. Dileep Choksi, (DIN: For For "A Chartered Accountant, he was the Joint Managing Partner of Deloitte in In-
00016322) as an Independent Director of the Company. dia and has over 40 years of professional experience. He has been on Boards
of Taxation Committee of the Indian Merchant Chamber. He has held positions
of director and member of advisory boards and has been the chairman of
Banque National de Paris, Mumbai. He holds directorship positions at ICICI
Bank and ICICI Home Finance Company Limited."
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Ordinary Resolution for appointment of Mr. Raghunath Hariharan, (DIN: For For The Chief Financial Officer of Prudential Corporation Asia, Raghunath Hariharan
08007442) as a Director of the Company. has over 20 years’ experience in financial services. He has worked across Asia,
US and the UK, spanning consumer & investment banking and (re)/insurance.
His appointment meets all statutory requirements.
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Ordinary Resolution for re-appointment and revision in the remuneration For For Sandeep Bakshi’s date of retirement was May 2018. Given the need for lead-
of Mr. Sandeep Bakhshi (DIN: 00109206) (M.D & C.E.O). ership continuity to realize the company’s strategic objectives, his retirement
age, based on recommendation of the NRC has been extended to 60 years.
756
For FY19, his remuneration is estimated to be to Rs.198.5mn. This includes the
cost of ICICI Pru Life as well as ICICI Bank ESOPs, computed at fair value. In
FY18, he was paid a remuneration of Rs.170.0mn. The proposed remuneration
is also subject to approval by IRDAI, is comparable to peers and in line with the
size and complexity of the business. His extension and re-appointment meets
various statutory requirements.
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Ordinary Resolution for revision in the remuneration of Mr. Puneet Nanda For For The proposed remuneration for FY19 is estimated at Rs.102.1 mn and includes
(DIN: 02578795) (Executive Director). the cost of ICICI Pru Life and ICICI Bank ESOPs computed at fair value. . Puneet
Nanda was paid a remuneration of Rs.90.3mn in FY18. The proposed remunera-
tion is also subject to approval by IRDAI, is comparable to peers and in line with
the size and complexity of the business.
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Ordinary Resolution for revision in the remuneration of Mr. Sandeep Batra For For The proposed remuneration for FY19 is estimated at Rs.102.1 mn and includes
(DIN: 03620913) (Executive Director). the cost of ICICI Pru Life and ICICI Bank ESOPs, computed at fair value. Sand-
eep Batra was paid a remuneration of Rs.78.4mn in FY18. The proposed remu-
neration is also subject to approval by IRDAI, is comparable to peers and in line
with the size and complexity of the business.
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Appointment of Mr. N. S. Kannan (DIN: 00066009) as Managing Director For For His appointment is in line with all statutory requirements
& CEO of the Company
26-Jun-18 ICICI Prudential Life Insuranc AGM Management Appointment of Mr. Sandeep Bakhshi (DIN: 00109206) as the Non-Exec- For For His appointment is in line with all statutory requirements
utive Director of the Company
30-Jun-18 Strides Shasun Limited PBL Management "Name change of the Company from Rs.Strides Shasun Limited' to For For The company believes the new name is a better representation of its business
Rs.Strides Pharma Science Limited'"
30-Jun-18 Strides Shasun Limited PBL Management "Amendment to Memorandum of Association and Articles of Association For For The change in name requires alteration to charter documents including Articles
pursuant to name change of the Company" of Association and Memorandum of Association
30-Jun-18 Strides Shasun Limited PBL Management "Divestment of Strides Chemicals Private Limited" For For The divestment will make Strides Shasun Limited leaner; the valuation is compa-
rable to peers. As a good practice, the company should disclose the financials of
the entity being divested on its website and/or in the notice sent to shareholders.
28-Jun-18 STATE BANK OF INDIA AGM Management To, discuss and adopt the Balance Sheet and the Profit and Loss Account For For Accounts have been audited following all the prescribed rules and regulations
of the State Bank of India made up to the 31st day of March 2018, the and have no adverse comments from Auditors
report of the Central Board on the working and activities of the State Bank
of India for the period covered by the Accounts and the Auditor’s Report
on the Balance Sheet and Accounts.
27-Jun-18 UNION BANK OF INDIA AGM Management "To discuss, approve and adopt the Balance Sheet of the Bank as at For For There is no adverse observation/comment in Audiotrs report/ Financials and
31st March 2018 Profit and Loss Account for the year ended on that notes to a/cs, hence it can be adopted. The director's report is satisfactory and
date, the Report of the Board of Directors on the working and activities can be adopted
of the Bank for the period covered by the Accounts and the Auditors’
Report on the Balance Sheet and Accounts"
27-Jun-18 UNION BANK OF INDIA AGM Management "To raise Capital through FPO/Rights/QIP/Preferential allotment etc." For For If the entire issue of Rs.68.5 bn is subscribed to at current market price of
Rs.90.3 per share, Union Bank of India will issue ~758.6 mn equity shares. This
will result in a dilution of 65% on the expanded equity base. If the bank were
to raise the entire capital and maintain GoI equity at 51%, it will require GoI
to infuse Rs.17.6 bn (at current market prices), and the bank will need to raise
the remaining Rs.50.9 bn from non-promoter shareholders. The capital infusion
is necessary to shore up the bank’s capital adequacy levels and fuel growth.
27-Jun-18 UNION BANK OF INDIA AG1 Management "To elect THREE Directors from amongst the shareholders of the Bank" For For The bank has proposed five names, but not disclosed any information regarding
them. Based on the names proposed, and information that is garnered from
public sources, we support the candidature of Uttam Kumar Sarkar, K Kadiresan
and M Jayadev as shareholder directors.
757
27-Jun-18 MAS Financial Services Limited AGM Management "To receive, consider and adopt audited Standalone and Consolidated fi- For For Accounts have been audited following all the prescribed rules and regulations
nancial statements of the Company for the year ended 31st March 2018 and have no adverse comments from Auditors
and the Reports of the Board of Directors and the Auditors thereon"
27-Jun-18 MAS Financial Services Limited AGM Management To declare final dividend on equity shares. For For Payment of dividend has no negative impact for minority shareholders
27-Jun-18 MAS Financial Services Limited AGM Management "To appoint a Director in place of Mr. Kamlesh Gandhi, (DIN 00044852), For For His re-appointment is in line with all statutory requirements
liable to retire by rotation in terms of Section 152(6) of the Companies
Act, 2013 and, being eligible, offers himself for reappointment"
27-Jun-18 MAS Financial Services Limited AGM Management "Appointment of B S R & Co. LLP, Chartered Accountants as the Statuto- For For Their appontment is in line with all statutory requirements
ry Auditors of the Company and fixing their remuneration."
27-Jun-18 MAS Financial Services Limited AGM Management "Approval for increasing the Borrowing Powers under Section 180(1)(c) For For Increase in borrowing limit is part of normal business activity and has no nega-
of the Companies Act, 2013 up to Rs. 5,000 crores" tive impact for minority shareholders
27-Jun-18 MAS Financial Services Limited AGM Management "Approval for creation of charges, mortgages, hypothecation on the im- For For Secured loans generally have easier repayment terms, less restrictive cove-
movable and movable properties of the Company under section 180(1) nants, and lower interest rates.
(a) of the Companies Act, 2013"
28-Jun-18 SYNDICATE BANK AGM Management To discuss, approve and adopt, the Balance Sheet of the Bank as at 31st For For We believe that a comprehensive review of the financials of a company is critical
March 2018 and the Profit & Loss Account of the Bank for the year ended exercise and requires first-hand information and proper due diligence. We do
on that date, the Report of the Board of Directors on the working and not comment on resolutions for adoption of financial statements, given the lim-
activities of the Bank for the period covered by the Accounts and the Au- ited time between receipt of the annual report and the shareholder meeting, but
ditors’ Report on the Balance Sheet and Accounts provide analysis of critical ratios.
28-Jun-18 SYNDICATE BANK AGM Management To accord approval for the capital issue of the Bank for an aggregate For For The GoI holding cannot fall below 51.0%. As a consequence, at current market
amount not exceeding ?5000 Crore (Rupees Five Thousand Crore only), price of Rs 51.3 per share, the bank can raise ~ Rs 31.5 bn (not the entire Rs
by way of Qualified Institutional Placement/Rights Issue/Follow On Pub- 50.0 bn) through issue of ~ 613.3 mn shares to non-promoter shareholders.
lic Issue/preferential allotment or any other mode permitted by Reserve The proposed issue will lead to a 30.2% dilution on the expanded capital base -
Bank of India/Government of India, in one or more tranches, inclusive of which is extremely high. The capital infusion is necessary to shore up the bank’s
premium to be decided/approved by the Board subject to Government of capital adequacy levels and fuel growth. Syndicate Bank’s free float market cap-
India holding not falling below 51% of the total capital. ital is Rs 72.3 bn1 – therefore, its ability to raise Rs 50.0 bn from non-promoter
shareholders is limited. While the bank needs to raise equity to support its capital
adequacy levels, it is unlikely to raise the entire amount.
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management "To receive, consider and adopt: For For Accounts have been audited following all prescribed rules and regulations
a) The Audited financial statements of the Company for the financial
year ended 31st March, 2018, including
the Audited Balance Sheet as at 31st March, 2018, the Statement of
Profit & Loss and cash flow statement for the year ended on that date
and reports of the Board of Directors and Auditors thereon. (Ordinary
Resolution)
b) The Audited Consolidated Financial Statements of the Company for
the Financial Year ended 31st March, 2018. (Ordinary Resolution)"
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management To declare final dividend on Equity Shares for the Financial Year end- For For Dividend payout is beneficial to shareholders
ed 31st March, 2018 and to confirm the payment of interim dividend on
Equity Shares considered & approved by the Board of Directors of the
Company
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management To appoint a Director in place of Shri B.L. Taparia (Director Identification For For His appointment is line with statutory requirements
No. 00112438), who retires by rotation and being eligible, offers himself
758
for reappointment.
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management Ratification of appointment of Statutory Auditors For For The ratification is in line with the statutory requirements.
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management Appointment of Branch Auditors. For For The ratification is in line with the statutory requirements.
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management To approve re-appointment and remuneration of Shri M.P. Taparia (Direc- For For His appointment is line with statutory requirements
tor Identification No. 00112461) as a Managing Director of the Company
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management To approve re-appointment and remuneration of Shri S.J. Taparia (Direc- For For His appointment is line with statutory requirements
tor Identification No. 00112513) as a Executive Director of the Company.
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management To approve re-appointment and remuneration of Shri V.K. Taparia (Direc- For For His appointment is line with statutory requirements
tor Identification No. 00112567) as a Executive Director of the Company
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management To approve payment of Commission to Non-Executive Directors For For The ratification is in line with the statutory requirements.
29-Jun-18 SUPREME INDUSTRIES LTD AGM Management Ratification of remuneration of Cost Auditors For For The ratification is in line with the statutory requirements.
03-Jul-18 PVR Ltd. PBL Management Authorizing the board of directors of the Company to borrow funds in ex- For For We understand that the company will need the increased limit to raise funds
cess of aggregate of the company's paid up share capital, free reserves for its expansion plans. The company has a credit rating of ICRA AA-/ Stable/
and securities premium (apart from temponuy loans obtained from com- ICRA A1+, which denotes high degree of safety regarding timely servicing of
pany's bankers in the ordinary course of business), for an amount not debt obligations.
exceeding Rs. 2,000 Crores.
03-Jul-18 PVR Ltd. PBL Management Authorizing the board of directors of the Company to mortgage or create For For The company proposes to create charges on its assets for its borrowings and its
a charge, sell, lease or otherwise dispose of the whole or substantially the working capital facilities obtained from banks in the ordinary course of business.
whole of the undertaking of the Company, for an amount not exceeding Secured loans generally have easier repayment terms, less restrictive cove-
Rs.2,000 Crores. nants, and lower interest rates.
03-Jul-18 PVR Ltd. PBL Management Authorizing the board of directors of the Company to make offer(s) or invi- For For PVR proposes to issue NCDs to fund inorganic growth and to refinance debts.
tation for subscription of non-convertible debentures on private placement
for an aggregate amount not exceeding Rs. 1,000 Crores.
03-Jul-18 PVR Ltd. PBL Management Increasing the FPI/FII and NRI shareholding limit up to 74% and 24% For For The increased shareholding limit for RFPIs/ FIIs in a company normally results
respectively under Foreign Exchange Manairement Act, 1999. in enhanced shareholder value.
03-Jul-18 PVR Ltd. PBL Management Re-appointment of Mr. Ajay Bijli as Chairman & Managing Director for a For For His appointment is line with statutory requirements
period of 5 years, effective from l'' April, 2018.
03-Jul-18 PVR Ltd. PBL Management Re-appointment of Mr. Sanjeev Kumar as Joint Managing Director for a For For His appointment is line with statutory requirements
period of 5 years, effective from l" April, 2018.
01-Jul-18 CITY UNION BANK LTD. PBL Management Issue of Bonus Shares For For Issue of bonus shares has no negative impact for minority shareholders
05-Jul-18 RELIANCE INDUSTRIES LTD. AGM Management "Consider and adopt: For For Accounts have been audited following prescribed rules and regulations by stat-
a)Audited Financial Statement for the financial year ended March 31, utory auditors.
2018 and the Reports of the Board of Directors and Auditors thereon b)
Audited Consolidated Financial Statement for the financial year ended
March 31, 2018 and the Report of Auditors thereon"
05-Jul-18 RELIANCE INDUSTRIES LTD. AGM Management Declaration of dividend on equity shares For For The total dividend outflow including dividend tax for FY18 is Rs. 42.8 bn. The
05-Jul-18 RELIANCE INDUSTRIES LTD. AGM Management Appointment of Shri P. M. S. Prasad, a Director retiring by rotation For For P.M.S. Prasad, 66, is the Whole-time Director, Reliance Industries Limited. He
retires by rotation and his reappointment is in line with statutory requirements.
05-Jul-18 RELIANCE INDUSTRIES LTD. AGM Management Appointment of Shri Nikhil R. Meswani, a Director retiring by rotation For For Nikhil Meswani, 52, is the Whole-time Director, Reliance Industries Limited. He
is primarily responsible for the petrochemicals division. He retires by rotation and
his reappointment is in line with statutory requirements.
05-Jul-18 RELIANCE INDUSTRIES LTD. AGM Management Re-appointment of Shri Mukesh D. Ambani as Managing Director For For Mukesh Ambani’s past remuneration has remained static at Rs. 150.0 mn. The
proposed remuneration structure remains unchanged from that approved during
759
his previous reappointment; the company has clarified that his remuneration is
expected to be in the same range over the new five-yearterm. His estimated
FY19 remuneration of Rs.150.0 mn is prudent given the the size and complexity
of RIL’s business.
05-Jul-18 RELIANCE INDUSTRIES LTD. AGM Management Re-appointment of Shri Adil Zainulbhai as an Independent Director For For Adil Zainulbhai, 64, is the Former Chairperson, McKinsey, India. His current term
as independent director expires on 31 March 2019. The company proposes to
reappoint him as independent director for another five-year term upto 31 March
2024. His reappointment is in line with statutory requirements.
05-Jul-18 RELIANCE INDUSTRIES LTD. AGM Management Ratification of the remuneration of the Cost Auditors for the financial year For For The total remuneration proposed to be paid to the cost auditors in FY18 is rea-
ending March 31 2019 sonable compared to the size and scale of operations.
05-Jul-18 RELIANCE INDUSTRIES LTD. AGM Management Approval of offer or invitation to subscribe to Redeemable Non-Convert- For For The issuance will be within the overall borrowing limit of the company.
ible Debentures on private placement
05-Jul-18 TATA GLOBAL BEVERAGES LIMITED AGM Management "To receive, consider and adopt the Audited Financial Statements of For For There is no adverse observation/comment in Audiotrs report/ Financials and
the Company for the year ended 31st March, 2018, together with the notes to a/cs, hence it can be adopted. The director's report is satisfactory and
reports of the Board of Directors and Auditors thereon." can be adopted
05-Jul-18 TATA GLOBAL BEVERAGES LIMITED AGM Management To receive, consider and adopt the Audited Consolidated Financial State- For For There is no adverse observation/comment in Audiotrs report/ Financials and
ments of the Company for the year ended 31st March, 2018, together with notes to a/cs, hence it can be adopted. The director's report is satisfactory and
the report of the Auditors thereon. can be adopted
05-Jul-18 TATA GLOBAL BEVERAGES LIMITED AGM Management To declare a dividend. For For Tata Global Beverages Limited proposes to pay a final dividend of Rs.2.5 per
equity share of face value Re.1.0 for the year ended 31 March 2018. The total
outflow on account of dividend is Rs.1.9 bn. The dividend payout is 35.5% .
05-Jul-18 TATA GLOBAL BEVERAGES LIMITED AGM Management Re-appointment of Mr. Harish Bhat as Director. For For Harish Bhat (DIN 00478198) is the Chairperson of Tata Coffee and the com-
pany’s former Managing Director. His reappointment is in line with all statutory
requirements.
05-Jul-18 TATA GLOBAL BEVERAGES LIMITED AGM Management Remuneration of Cost Auditors. For For The total remuneration proposed is reasonable compared to the size and scale
05-Jul-18 TATA GLOBAL BEVERAGES LIMITED AGM Management Appointment of Mr. S. Santhanakrishnan as Independent Director of the For For A three-year period of disassociation between a Tata Global Beverages’ associ-
Company ate company and PKF Sridhar & Santhanam LLP, in which S Santhanakrishnan
is the Managing Partner, has passed. Given this, S Santhanakrishnan qualifies
to be designated as an Independent Director. His appointment is in line with
regulations and our voting policy.
05-Jul-18 TATA GLOBAL BEVERAGES LIMITED AGM Management Re-appointment of Mr. L. KrishnaKumar as Executive Director and pay- For For The company proposes to reappoint L. KrishnaKumar (DIN 00423616) as Exec-
ment of remuneration utive Director. He is Group CFO of Tata Global Beverages. His proposed remu-
neration of Rs. 48.0 mn (subject to annual increments) is in line with peers and
commensurate with the size and complexities of his responsibilities.
05-Jul-18 TATA GLOBAL BEVERAGES LIMITED AGM Management Payment of commission to Non-Whole-time Directors For For In FY18, the non-executive directors were cumulatively paid a commission of
Rs.26 mn, which was 0.5% of FY18 profits. We expect the company to remain
judicious in its payouts going forward. As its profits grow, the company must
consider setting a cap in absolute terms on the commission payable.
05-Jul-18 TATA GLOBAL BEVERAGES LIMITED AGM Management Issue of Non-Convertible Debentures on private placement basis For For The company proposes to borrow up to Rs.4.5 bn in FY19 through the issue
of Non-Convertible Debentures (NCDs) on a private placement basis in one or
more tranches. The NCDs will be within the overall approved borrowing limits
of Rs.12bn.
04-Jul-18 CAPITAL FIRST LTD AGM Management Adoption of Standalone and Consolidated Financial statements for year For For Accounts have been audited following all prescribed rules and regulations
ended March march 2018 To consider and adopt a)the audited financial
statements of the company for the financial year ended 31st march ,2018
along with the reports of the Board of directors and the Auditots thereon
b)the audited consolidated financial statements of the year ended 31st
march 2018and the report of the auditors thereon
760
04-Jul-18 CAPITAL FIRST LTD AGM Management Declaration of dividend For For Capital First has proposed a final dividend of Rs. 2.80 per equity share. It paid a
dividend of Rs.2.60 per equity share in the previous year. The total dividend out-
flow (including dividend tax for FY18) is Rs.333.5 mn, while the dividend payout
ratio is 10.2% (14.1% in the previous year).
04-Jul-18 CAPITAL FIRST LTD AGM Management Appointment of Mr Narendra Ostawal DIN06530414 as a director liable For For "Narendra Ostawal (DIN: 06530414) is the Managing Director for Warburg Pin-
to retire by rotation cus, India (promoters of Capital First). He attended 71% of meeting in FY18."
04-Jul-18 CAPITAL FIRST LTD AGM Management Ratification of appointment of statutory auditors For For B S R & Co. LLP’s was appointed as statutory auditor in 2017 AGM. Their ratifi-
cation is in line with statutory requirements.
04-Jul-18 CAPITAL FIRST LTD AGM Management Revision in renumeration of Mr V Vaidayanathan DIN 00825 Chairman For For "V Vaidyanathan is the founder CMD of Capital First. The company pro-
and managing director from april 01 2018 and payment of performance poses to revise his remuneration by increasing his basic salary by 10%
bonus for the financial year end 2017-18 to Rs.55 mn and approve his performance bonus of Rs.28 mn for FY18
(payable in FY19). His proposed remuneration of Rs.83 mn is in line
with peers and commensurate with size and complexity of business.
In FY18, he was granted 2.45 mn stock options, the fair value of which aggre-
gated to Rs.884.2 mn. The company has clarified that it was a one-time grant
and further that a large portion of these options were issued at a premium to the
prevailing market price. We expect these will not be repriced at the time of the
merger with IDFC Bank."
04-Jul-18 CAPITAL FIRST LTD AGM Management Reappoitment of Mr Apul Nayyar DIN 01738973 as executive director of For For Apul Nayyar has over 18 years of experience in the Financial Services industry.
the company and payment of performance bonus for the financial year He is the Head of Capital First’s Retail business. His proposed remuneration,
end 2017-19 including stock options, is estimated at Rs.60.3 mn. As a practice, the company
seeks shareholder approval for bonus payouts relating to previous years. In line
with this practice, Capital First also seeks shareholder’s approval for paying him
bonus of Rs.18 mn for FY18.
04-Jul-18 CAPITAL FIRST LTD AGM Management Reappoitment of Mr Nihal Desai DIN 03288923 as executive director of For For "Nihal Desai, has over two decades of experience in the Financial Services
the company and payment of performance bonus for the financial year industry and is currently responsible for the Risk, IT and Operations func-
end 2017-19 tions at Capital First. He is the Head of Capital First’s Retail business. His
proposed remuneration, including stock options, is estimated at Rs.60.3
mn. As a practice, the company seeks shareholder approval for bonus pay-
outs relating to previous years. In line with this practice, Capital First also
seeks shareholder’s approval for paying him bonus of Rs.18 mn for FY18.
His remuneration is in line with peers and commensurate with the performance
of the company."
04-Jul-18 CAPITAL FIRST LTD AGM Management Increasing in borowwing limits under Section 180(1) upto rs 40,000 crore, For For On 31 March 2018, Capital First’s consolidated debt to networth was 8.3x and
over and above aggregate for the time being of the paid up capital and its capital adequacy ratio was 15.9%. Incremental borrowing will be utilized for
free reserves of the company the growth of business. Debt levels in an NBFC are typically reined in by the RBI
requirement of maintaining a slated minimum capital adequacy ratio.
04-Jul-18 CAPITAL FIRST LTD AGM Management Issue of Non Convertible debentures in one or more tranches For For The issuance of Non-Convertible Debentures on private placement basis will
be within the overall borrowing limit. While the issuance is within the borrowing
limits, Capital First has not disclosed the quantum of funds it proposes to raise
through NCDs.
04-Jul-18 CAPITAL FIRST LTD AGM Management Raising of funds through issue of securities For For If Capital First were to raise Rs.6 bn at the current market price, there will be an
equity dilution of ~ 10.6% for the existing shareholders. Given the credit growth
displayed in the past, it will require additional fund for fuelling its future growth
and maintaining capital adequacy ratio.
11-Jul-18 M.M.FORGINGS LTD. AGM Management "The Audited Financial Statements, including the Consolidated Financial For For Accounts have been audited following all prescribed rules and regulations
Statements, of the Company for the year end-
ed 31 March 2018 and the Board’s and Auditors’
761
Reports thereon, be and are hereby approved and adopted"
11-Jul-18 M.M.FORGINGS LTD. AGM Management "Sell, lease, mortgage/charge the properties situated at Singampunari For For We are satisfied with management's rationale regarding creating this charge
and Viralimalai"
11-Jul-18 M.M.FORGINGS LTD. AGM Management Increase in the borrowing limits of the company For For We are satisfied with management's rationale regarding increasing borrowing
limits
11-Jul-18 M.M.FORGINGS LTD. AGM Management "Increase in the authorized share capital of the companyand consequent For For The present authorized share capital of the company is Rs.150 mn divided into
alteration in the memorandum and articles of association of the company" 15 mn equity shares of Rs.10 each. The company seeks shareholders’ approval
to issue bonus shares in the ratio of 1:1. Hence, the company proposes to in-
crease the authorized share capital to Rs.300.0 mn divided into 30 mn equity
shares. The increase in of authorized capital would require amendment to the
existing Clause V of the Memorandum of Association and existing Article 5 of the
Articles of Association.
11-Jul-18 M.M.FORGINGS LTD. AGM Management Issue of bonus shares by way of capitalisation of reserves For For The company seeks shareholders’ approval to issue bonus shares in the propor-
tion of 1 equity share each for every 1 equity share held by capitalising reserves.
11-Jul-18 M.M.FORGINGS LTD. AGM Management Reappointment of shri vidyashankar krishnan as managing director For For Vidyashankar Krishnan, 52, is a Promoter and Managing Director His reappoint-
ment is in line with the statutory requirements. The proposed remuneration of
Rs.53.8 mn is commensurate with the size and complexity of the business and
has been aligned to company performance in the past. In FY18, the ratio of re-
muneration (Rs.44.0 mn) to median remuneration was 243x. The increase in his
FY18 remuneration was 44.4% compared to previous year (average increase in
remuneration is 24%). The company has not given a cap in absolute terms on
the commission payable.
11-Jul-18 M.M.FORGINGS LTD. AGM Management Reappointment of shri k venkatramanan as joint managing director For For We are satisfied with management's rationale regarding reappointment
11-Jul-18 M.M.FORGINGS LTD. AGM Management Reappointment of shri n. Srinivasan as an independent director For Against "N Srinivasan, 73, is the Chairperson. He has been associated with the compa-
ny from 1994. We believe the length of the tenure is inversely proportionate to
the independence of a director. We note he has attended 50% of the meetings
in FY18 and 67% of the meetings over a threeyear period. We expect directors
to take their responsibilities seriously and attend all board meetings."
11-Jul-18 M.M.FORGINGS LTD. AGM Management Reappointment of shri v vaidyanathan as an independent director For Against V Vaidyanathan, 75, has been associated with the company from 1979. We be-
lieve the length of the tenure is inversely proportionate to the independence of a
director. If the company believes it will benefit from V Vaidyanathan serving on
its board, it should appoint him as non-independent director.
11-Jul-18 M.M.FORGINGS LTD. AGM Management Reappointment of shri a gopalakrishnan as an independent director For For "A Gopalakrishnan, 73, has been associated with the company since 24
October 2012: reappointing him for another five years will result in a cumulative
tenure of over 10 years. We believe that the tenure of directors is inversely
proportionate to their independence. Therefore, we will consider him as non-in-
dependent once he crosses tenure of 10 years."
11-Jul-18 M.M.FORGINGS LTD. AGM Management Ratification of remuneration paid to the cost auditor For For The total remuneration proposed (Rs.60,000 plus out of pocket expenses of
Rs.15,000) is reasonable compared to the size and scale of the company’s op-
erations.
09-Jul-18 ANDHRA BANK AGM Management To Discuss, Approve and Adopt the Audited Balance Sheet of the Bank For For Accounts have been audited following all prescribed rules and regulations
as at 31st March, 2018, Profit & Loss Account for the year ended on that
date, the Report of the Board of Directors on the working and activities of
the Bank for the period covered by the Accounts and the Auditors’ Report
on the Balance Sheet and Accounts;
09-Jul-18 ANDHRA BANK AGM Management To raise Capital through FPO/Rights/QIP etc. For For Assuming that GoI’s stake in the bank will not reduce below 51%, the bank can
762
raise Rs.23.6 bn at current market prices. This will result in a dilution of 35%
on the expanded equity base. The capital infusion is necessary to shore up the
bank’s capital adequacy levels.
17-Jul-18 Mindtree Limited AGM Management To adopt Audited Standalone Financial Statements and Audited Consol- For For Accounts have been audited following all prescribed rules and regulations
idated Financial Statements together with Reports of the Directors and
Auditors thereon for the Financial Year 2017-18
17-Jul-18 Mindtree Limited AGM Management To confirm payment of first interim dividend, special dividend (interim), For For The aggregate dividend is Rs.11.0 per share. The total dividend outflow including
second interim dividend, third interim dividend and to approve final div- dividend tax for FY18 is Rs.1.7 bn. The dividend payout ratio for FY18 is 27.9%.
idend, for the Financial Year 2017-18
17-Jul-18 Mindtree Limited AGM Management To appoint a Director in place of Mr. N S Parthasarathy (DIN 00146954), For For N S Parthasarathy is the Promoter Executive Vice Chairperson, President and
who retires by rotation and being eligible, offers himself for reappointment COO. He is liable to retire by rotation and his reappointment is in line with all
17-Jul-18 Mindtree Limited AGM Management To appoint Mr. Bijou Kurien (DIN 01802995), as Independent Director For For Bijou Kurien is an independent consultant and member of the Strategic Advisory
Board of L Catterton Asia (a part of the LVMH Group). His appointment as an
Independent Director is in line with the statutory requirements.
17-Jul-18 Mindtree Limited AGM Management To contribute to Charitable and other Funds For Against The company seeks to contribute to bona fide charitable and other funds in any
financial year, any amounts upto 10% of the company’s average net profits of
the three preceding financial years or Rs.1.5 bn, whichever is higher. This will
be in addition to the 2% CSR. The quantum of the contribution is high, and the
company has not given details regarding the charitable and other funds to which
the contributions will be made.
13-Jul-18 BANK OF BARODA AGM Management To discuss, approve and adopt the Balance Sheet of the Bank as at 31st For For Accounts have been audited following all prescribed rules and regulations
March 2018, Profit and Loss Account for the year ended 31st March,
2018, the report of the Board of Directors on the working and activities of
the Bank for the period covered by the accounts and the Auditor’s Report
on the Balance Sheet and Accounts
13-Jul-18 BANK OF BARODA AGM Management To raise Capital through FPO/Rights/QIP etc. For For Assuming that GoI’s stake in the bank will not reduce below 52%, the bank
can raise Rs.24.7 bn at current market prices. This will result in a dilution of
6.7% on the expanded equity base. The bank needs funds to support its capital
adequacy levels.
13-Jul-18 BANK OF INDIA AGM Management "To discuss, approve and adopt the Audited Balance Sheet as For For Accounts have been audited following all prescribed rules and regulations
at 31st March 2018, Profit and Loss Account of the Bank for the
year ended 31st March 2018, Report of the Board of Directors
on the working and activities of the Bank for the period covered
by the Accounts and the Auditors’ Report on the Balance Sheet
and Accounts"
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To Adopt Financial Statements for the year ended 31st March, 2018 For For Accounts have been audited following all prescribed rules and regulations
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To declare dividend For For South Indian Bank proposes to pay dividend of Rs 0.4 per share. The dividend
payout is 26% (22.1% in FY17).
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management Reappointment of retiring director, Sri Achal Kumar Gupta (DIN: For For Ms. Achal Kumar Gupta (DIN: 02192183) is the former Deputy MD of IFCI. Her
02192183), who retires by rotation under section 152 of Companies Act, reappointment is in line with statutory requirements.
2013 and being eligible, offers himself for re-appointment
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To Appoint Statutory Central Auditors of the Bank and fixing their remu- For For S R Batliboi & Co. LLP (of the Ernst & Young Group) replaced Deloitte Haskins
neration & Sells as the statutory auditors in FY18. Their reappointment is in-line with
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To appoint Branch Auditors in consultation with Statutory Auditors For For South Indian Bank has 854 branches. The resolution enables the board to ap-
point branch auditors in consultation with their central statutory auditors.
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management Approval for appointment of Sri Salim Gangadharan (DIN: 06796232) as For For Salim Gangadharan (DIN: 06796232) is currently the Non-Executive Chairper-
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a Director, liable to retire by rotation son of the bank. He was appointed in the previous AGM for a fixed term of
three years and was not eligible to retire by rotation. The proposed change will
place him in the rotation pool and his continuation on the board will have to be
approved by shareholders on a periodic basis.
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To appoint Mr. V. J. Kurian (DIN: 01806859) as an Independent Director For For V. J Kurian (DIN: 01806859) is a retired IAS officer and the current MD of Cochin
International Airport Ltd. His appointment is in line with the statutory require-
ments.
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To appoint Dr. John Joseph Alapatt (DIN: 00021735) as an Independent For Against John Joseph Alapatt (DIN: 00021735) is an industrialist and has experience in
Director managing a small-scale unit. He has been on the board of the company for three
terms (1986-94, 2002-10 and 2012-present), aggregating to a total tenure of
22 years. Given his long association with the group, we consider him non-inde-
pendent. Should the company believe he adds value to board deliberations, it
must consider continuing his term as a non-executive non-independent director.
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To appoint Mr. Francis Alapatt (DIN: 01419486) as an Independent Di- For For Francis Alapatt (DIN: 01419486) is the Chairperson and Managing Partner of
rector the Alapatt Group. He has been on the board of the company from 1 November
2013. His appointment is in line with the statutory requirements.
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To pass a special resolution for exercising the borrowing powers of the For For South Indian Bank plans to raise borrowings under RBI’s policy on ‘Issue of Long
Bank pursuant to Section 180(1)(c) of the Companies Act, 2013 Term Bonds by Banks for Financing of Infrastructure and Affordable Housing’,
which carries attractive terms and relaxation in Basel III guidelines on limit of Tier
II capital to be considered for capital fund purpose. The banks’s long-term debt
is rated IND A+/Stable, which indicates a high degree of safety regarding timely
servicing of financial obligations.
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To Augment the Paid-up Capital of the Bank by further issue of shares For For At the current market price of Rs 24.9 per share, the bank will be able to raise
~Rs.5 bn through the issuance. The fresh issue of shares will lead to an equity
dilution of ~10% for existing shareholders. South Indian Bank’s capital to risk
weighted assets ratio (CRAR) as on 31 March 2018 stood at 12.70%, as against
the regulatory requirement of 10.875%. The additional capital will help the bank
promote and sustain future growth, while maintain its capital adequacy ratio.
11-Jul-18 SOUTH INDIAN BANK LTD AGM Management To Approve the borrowing/raising funds in Indian/foreign currency by is- For For The issuance of debt securities on private placement basis will be within the
sue of debt securities upto Rs.500 crore on private placement basis bank’s proposed borrowing limit of Rs 120 bn.
14-Jul-18 BALKRISHNA INDUSTRIES LTD AGM Management "To consider and adopt: For For Accounts have been audited following all prescribed rules and regulations
a. the Audited Standalone Financial Statement of the Company for the
financial year ended 31st March, 2018, together with the Reports of the
Board of Directors and Auditors thereon;
and
b. the Audited Consolidated Financial Statement of the Company for the
financial year ended 31st March, 2018, together with the Report of the
Auditors thereon."
14-Jul-18 BALKRISHNA INDUSTRIES LTD AGM Management To confirm 1st Interim Dividend of Rs. 2.50 per equity share, 2nd Interim For For The total outflow on account of dividend is Rs.1,279.7 mm, increase from
Dividend of Rs. 2.50 per equity share and 3rd Interim Dividend of Rs. Rs.930.6 mn in the previous year. The dividend payout is 17.3% v/s 13% in
1.50 per equity share, aggregating to Rs. 6.50 per equity share, already FY17.
paid for the financial year ended 31st March, 2018 and to declare a Final
Dividend on Equity Shares for the financial year 2017-2018.
14-Jul-18 BALKRISHNA INDUSTRIES LTD AGM Management To appoint a Director in place of Mr. Vipul Shah (DIN:05199526), who For For Vipul Shah (DIN: 05199526) has over three decades of experience in secretarial
retires by rotation and being eligible, offers himself for re-appointment. compliances, finance and accounts. His reappointment is in line with all statutory
requirements.
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14-Jul-18 BALKRISHNA INDUSTRIES LTD AGM Management Appointment of Mr. Pannkaj Ghadiali as a Director and as an Independent For For Pannkaj Ghadiali (DIN: 00003462) has 35 years of experience in accountancy
Director. and auditing as a Practising Chartered Accountant. His appointment is in line
19-Jul-18 KOTAK MAHINDRA BANK LTD AGM Management "a) Adoption of the audited financial statements of the Bank for the year ended For For Accounts have been audited following all the prescribed rules and regulations
31st March, 2018 and the Reports of the Directors and the Auditors thereon and have no adverse comments from Auditors
b) Adoption of the audited consolidated financial statements of the Bank
for the year ended 31st March, 2018 and the Report of the Auditors there-
on"
19-Jul-18 KOTAK MAHINDRA BANK LTD AGM Management Declaration of dividend on equity shares for the year ended 31st March, For For Payment of dividend has no negative impact for minority shareholders
2018.
19-Jul-18 KOTAK MAHINDRA BANK LTD AGM Management Retirement of Dr. Shankar Acharya (DIN 00033242), who retires by rota- For For Shankar Acharya, aged 72 years, is the Chairperson of the bank. He retires by
tion and does not seek re-appointment. rotation at this AGM. However, given that he has crossed the age threshold of 70
years, he has not offered himself up for reappointment. The board will continue
to remain compliant with the board composition norms even after his retirement
19-Jul-18 KOTAK MAHINDRA BANK LTD AGM Management Appointment of Mr. Prakash Apte (DIN 00196106) as part-time Chairman For For Prakash Apte is currently an Independent Director in the bank. He will be des-
of the Bank from 20th July 2018 till 31st December 2020. ignated as Non-Executive (Independent) Part-Time Chairperson after Shankar
Acharya’s retirement. His estimated remuneration of Rs 3.6 mn is reasonable,
given the size and scale of operations
19-Jul-18 KOTAK MAHINDRA BANK LTD AGM Management Approval to issue unsecured, perpetual and/ or redeemable non-convert- For For The issuance of NCDs will be within the approved borrowing limit of Rs.600 bn
ible debentures/bonds for an amount up to 5,000 crore.
19-Jul-18 KOTAK MAHINDRA BANK LTD AGM Management Alter and increase in the Authorised share capital of the Bank. For For The present authorized share capital of the bank is Rs.15 bn divided into 3 bn
equity shares of Rs.5 each. The bank proposes to increase the authorized share
capital to Rs.19.0 bn divided into 2.8 bn equity shares of Rs.5 each and 1 bn
preference shares of Rs.5 each. The amendment will help facilitate the proposed
preference share issue.
19-Jul-18 KOTAK MAHINDRA BANK LTD AGM Management Substitution of Clause V of the Memorandum of Association of the Bank. For For The proposed increase in authorized capital would require amendment to the
existing Clause V of the Memorandum of Association
19-Jul-18 KOTAK MAHINDRA BANK LTD AGM Management Alteration of Article 11 of the Articles of Association of the Bank. For For The bank proposes to insert a clause in the AoA to enable the issue of prefer-
ence shares.
19-Jul-18 KOTAK MAHINDRA BANK LTD AGM Management Approval to raise funds by way of Non-Convertible Preference Shares, in For For The bank will issue a maximum of 1 bn NCPS for an aggregate amount of Rs.5
one or more tranches, for an amount not exceeding Rs. 500 crore, by way bn. The rate of dividend will be decided by the board based on rates prevailing
of a private placement. for similar instruments. The objective of the issue is to diversify the sources of
capital and to improve the asset liability management.
19-Jul-18 WIPRO LTD. AGM Management "To receive, consider and adopt the Audited Financial Statements of the For For Accounts have been audited following all prescribed rules and regulations
Company (including consolidated financial statements) for the financial
year ended March 31, 2018, together with the Reports of the Directors
and Auditors thereon."
19-Jul-18 WIPRO LTD. AGM Management "To confirm the payment of Interim Dividend of Rs. 1 per equity share For For The dividend for the year aggregates to Rs.5.4 bn, which represents a payout
already paid during the year as the Final Dividend for the financial year ratio of 7.1% (7.2% in FY17).
2017-18."
19-Jul-18 WIPRO LTD. AGM Management "To consider appointment of a Director in place of Mr. Rishad A Premji For For Rishad A Premji (DIN: 02983899) is part of the promoter group and the Chief
(DIN: 02983899) who retires by rotation and being eligible, offers himself Strategy Officer of Wipro. His reappointment is line with the statutory require-
for reappointment" ments.
19-Jul-18 WIPRO LTD. AGM Management "Re-appointment of Ms. Ireena Vittal (DIN: 05195656) as an Indepen- For For Ms. Ireena Vittal (DIN: 05195656) has been an independent director since Oc-
dent Director of the Company" tober 2013. She is a former partner at McKinsey & Co and is currently rec-
ognized as a global consultant. Her reappointment is in line with the statutory
requirements.
765
20-Jul-18 TATA STEEL LTD. AGM Management Consider and adopt the Audited Standalone Financial Statements for the For For There is no adverse observation/comment in Audiotrs report/ Financials and
Financial Year ended March 31, 2018 and the Reports of the Board of notes to a/cs, hence it can be adopted. The director's report is satisfactory and
Directors and Auditors thereon can be adopted
20-Jul-18 TATA STEEL LTD. AGM Management Consider and adopt the Audited Consolidated Financial Statements for For For There is no adverse observation/comment in Audiotrs report/ Financials and
the Financial Year ended March 31, 2018 and the Report of the Auditors notes to a/cs, hence it can be adopted. The director's report is satisfactory and
thereon can be adopted
20-Jul-18 TATA STEEL LTD. AGM Management Declaration of Dividend on fully paid and partly paid Ordinary Shares for For For Company has generated enough Profits to pay dividend to the shareholders and
Financial Year 2017-18 in the line with market practise.
20-Jul-18 TATA STEEL LTD. AGM Management Appointment of Director in place of Mr. N. Chandrasekaran (DIN: For For He is eligible for re-election and has relevant experience in the field.
00121863), who retires by rotation and being eligible, seeks re-appoint-
ment
20-Jul-18 TATA STEEL LTD. AGM Management Appointment of Mr. Saurabh Agrawal (DIN: 02144558) as a Director of For For He is eligible for election and has relevant experience in the field.
the Company
20-Jul-18 TATA STEEL LTD. AGM Management "Re-Appointment of Mr. Koushik Chatterjee (DIN: 00004989) as Whole Time For For He is eligible for re-election and has relevant experience in the field.
Director designated as Executive Director and Chief Financial Officer and
payment of remuneration"
20-Jul-18 TATA STEEL LTD. AGM Management "Ratification of remuneration of Messrs Shome & Banerjee, CostAuditors of the For For It is required under Companies Act.
Company"
20-Jul-18 TATA STEEL LTD. AGM Management "Issue of Non-Convertible Debentures on private placement basis not For For The proposed issuance will be carved out of the company’s Rs.700 bn borrowing
exceeding Rs. 12,000 crore" limit, which was approved by shareholders in August 2014 postal ballot.
20-Jul-18 HAVELLS INDIA LTD. AGM Management To receive, consider and adopt the Audited Financial Statements of the For For Accounts have been audited following all prescribed rules and regulations
Company for the financial year ended 31st March, 2018, the Reports of
the Board of Directors and Auditors thereon and the Audited Consolidated
Financial Statements of the Company for the financial year ended 31st
March, 2018 and the Report of Auditors thereon
20-Jul-18 HAVELLS INDIA LTD. AGM Management To declare a final dividend of Rs. 4/- per equity share of Rs. 1/- each for For For Havells India Limited (Havells) proposes to pay a final dividend of Rs 4.0 per
the financial year ended 31st March, 2018 share of face value Re. 1.0 for the year ended 31 March 2018. The total dividend
payout (including dividend distribution tax) for FY18 aggregates to Rs 3.0 bn.
The dividend payout ratio for FY17 was 42.2%.
20-Jul-18 HAVELLS INDIA LTD. AGM Management To appoint a Director in place of Shri Ameet Kumar Gupta (DIN: For For Ameet Kumar Gupta is part of the promoter group. He oversees new projects
00002838), who retires by rotation and being eligible, offers himself for undertaken by the organisation. He retires by rotation, and his reappointment is
re-appointment in line with the statutory requirements.
20-Jul-18 HAVELLS INDIA LTD. AGM Management Appointment of a Director in place of Shri Surjit Kumar Gupta (DIN: For For Surjit Kumar Gupta, 76, is part of the promoter group. He is the former Technical
00002810), who retires by rotation and being eligible, offers himself for Head of Havells. He retires by rotation, and his reappointment is in line with the
re-appointment statutory requirements.
20-Jul-18 HAVELLS INDIA LTD. AGM Management To conduct the audit of the cost records of the Company for the financial For For The proposed remuneration is comparable to the size and complexity of the
year ending 31st March, 2019, be paid the remuneration business.
20-Jul-18 HAVELLS INDIA LTD. AGM Management Appointment of Shri Jalaj Ashwin Dani (DIN: 00019080) as an Indepen- For For Jalaj Ashwin Dani was appointed as an Additional Director from 16 August 2017.
dent Director He has spent over 2 decades in various capacities with Asian Paints. His ap-
pointment is in line with statutory requirements.
20-Jul-18 HAVELLS INDIA LTD. AGM Management Appointment of Shri Upendra Kumar Sinha (DIN: 00010336) as an Inde- For For Upendra Kumar Sinha was appointed as an Additional Director from 1 March
pendent Director 2018. He is the former Chairperson of SEBI. His appointment is in line with
20-Jul-18 HAVELLS INDIA LTD. AGM Management Re-appointment of Smt. Pratima Ram (DIN: 03518633) as an Indepen- For For Ms. Pratima Ram is the former Chief General Manager of SBI. She has been on
dent Director for a Second Term the board of the company since 13 July 2015. Her reappointment is in line with
the statutory requirements.
20-Jul-18 HAVELLS INDIA LTD. AGM Management Re-appointment of Shri T. V. Mohandas Pai (DIN: 00042167) as a Director For For T. V. Mohandas Pai is the former CFO, Infosys. He has been on the board of
766
for a Second Term the company since 13 July 2015. His reappointment is in line with the statutory
requirements.
20-Jul-18 HAVELLS INDIA LTD. AGM Management Re-appointment of Shri Puneet Bhatia (DIN: 00143973) as a Director for For Against Puneet Bhatia has attended 50% of board meetings held in 2018 and 42% of
a Second Term the board meetings over the past three years. We expect directors to take their
responsibilities seriously and attend all board meetings
20-Jul-18 HAVELLS INDIA LTD. AGM Management Amendment to Main Object Clause of the Memorandum of Association For For The company intends to widen the scope of business activities and expand into
to dealing with non-conventional/ alternative energy resources and and dealing
with associated activities/ products. The company proposes to add a sub-clause
in the Main object Clause III (A) of the Memorandum of Association.
17-Jul-18 ZEE ENTERTAINMENT ENTERPRIS- AGM Management "Adoption of Audited Financial Statements of the Company on a For For Accounts have been audited following all prescribed rules and regulations
ES standalone and consolidated basis for the financial year ended March
31, 2018 including the Balance Sheet, Statement of Profit & Loss and
the Reports of the Auditors and Directors thereon"
17-Jul-18 ZEE ENTERTAINMENT ENTERPRIS- AGM Management Confirmation of Dividend(s) paid on the Preference Shares by the Com- For For "The company paid dividend at 6% per annum on preference shares of face
ES pany during, and for the financial year ended March 31, 2018. value Rs. 10.0 Total outflow of the dividend paid on the preference shares in
FY18 amounted to Rs.1.2 bn."
17-Jul-18 ZEE ENTERTAINMENT ENTERPRIS- AGM Management Declaration of Dividend of Rs. 2.90 per Equity Share for the financial year For For The company has proposed a final dividend of Rs. 2.9 per equity share of face
ES ended March 31 2018 value Re.1.0 for the year ended 31 March 2018. The total dividend outflow in-
cluding dividend tax for FY18 is Rs. 3.4 bn. The dividend payout ratio for FY18
is 17.5%.
17-Jul-18 ZEE ENTERTAINMENT ENTERPRIS- AGM Management Re-appointment of Mr Ashok Kurien as a Director of the Company. For For Ashok Kurien is the founder. He retires by rotation, and his reappointment is in
ES line with the statutory requirements.
17-Jul-18 ZEE ENTERTAINMENT ENTERPRIS- AGM Management Ratification of remuneration payable to Cost Auditor for FY 2017-18 For For The proposed remuneration is comparable to the size and complexity of the
ES business.
17-Jul-18 ZEE ENTERTAINMENT ENTERPRIS- AGM Management Re-appointment of Mr Adesh Kumar Gupta as Independent Director for For For Adesh Kumar Gupta is the former CFO of Grasim Industries Limited. He has
ES second term. been an Independent Director since 30 December 2015. His reappointment is in
line with statutory requirements.
17-Jul-18 ZEE ENTERTAINMENT ENTERPRIS- AGM Management "Re- appointment of Mr Amit Goenka, a Related Party to the Office of For For "Amit Goenka, 40, belongs to the promoter family. Zee Entertain-
ES Place of Profit in an overseas subsidiary of the Company" ment Enterprises Limited (Zee) proposes to reappoint him as the CEO
of Asia Today Limited. His estimated remuneration is Rs.46.8 mn.
We note that variable pay accounts for ~20 of fixed pay. Amit Goenka’s proposed re-
muneration is commensurate with the size and complexities of his responsibilities.
As a good practice, companies must consider setting a cap in absolute amounts
on the remuneration that will be paid to executive directors."
20-Jul-18 BAJAJ AUTO LTD. AGM Management "To consider and adopt the standalone financial statements and the For For Accounts have been audited following all prescribed rules and regulations
consolidated financial statements of the Company for the year ended
31 March 2018, together with the Directors’ and Auditors’ Reports there-
on"
20-Jul-18 BAJAJ AUTO LTD. AGM Management To declare a dividend For For The total dividend outflow (including dividend tax for FY18) is Rs. 20.9 bn, while
the dividend payout ratio is 51.4%.
20-Jul-18 BAJAJ AUTO LTD. AGM Management To appoint a director in place of Niraj Bajaj (DIN 00028261), who retires by For For Niraj Bajaj, 63, is part of the promoter family and Chairperson and Managing
rotation in terms of section 152(6) of the Companies Act, 2013 and being Director, Mukand Limited. He retires by rotation and his reappointment is in line
eligible, offers himself for re-appointment with statutory requirements.
20-Jul-18 BAJAJ AUTO LTD. AGM Management To appoint a director in place of Manish Kejriwal (DIN 00040055), who For For Manish Kejriwal, 50, is Managing Partner, Kedaara Capital, a private equity
retires by rotation in terms of section 152(6) of the Companies Act, 2013 investment fund. He retires by rotation and his reappointment is in line with stat-
and being eligible, offers himself for re-appointment. utory requirements.
20-Jul-18 BAJAJ AUTO LTD. AGM Management To fix the remuneration of S R B C & CO LLP, Chartered Accountants, For For The auditors were paid Rs. 16.7 mn in FY18 and Rs. 15.8 mn in FY17. The
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Statutory Auditors of the Company company has not disclosed the amount of remuneration that will be paid to the
statutory auditors in the future. Notwithstanding, we expect the company to be
judicious in future auditor payouts.
20-Jul-18 BAJAJ AUTO LTD. AGM Management "Appointment of S R B C & CO LLP, Chartered Accountants (firm regis- For For Anami Roy, 68, is the Former Director General of Police, Maharashtra. His
tration no. 324982E/E300003) till the conclusion of the Fifteenth Annual appointment as Independent Director for five years is in line with statutory re-
General Meeting, the Board of Directors be and is hereby authorised quirements
to fix the remuneration of Statutory Auditors for the period commencing
from the year 2018-19, until the conclusion of the Fifteenth Annual
General Meeting of the Company scheduled in the year 2022."
18-Jul-18 ULTRATECH CEMENT LTD AGM Management "To receive, consider and adopt the Audited Financial Statements For For There is no adverse observation/comment in Audiotrs report/ Financials and
(including Audited Consolidated Financial Statements) for the financial notes to a/cs, hence it can be adopted. The director's report is satisfactory and
year ended 31st March, 2018 and the Reports of Directors’ and Auditors’ can be adopted
thereon"
18-Jul-18 ULTRATECH CEMENT LTD AGM Management "To declare dividend on equity shares for the year ended 31st March, For For Company has generated enough Profits to pay dividend to the shareholders and
2018" in the line with market practise.
18-Jul-18 ULTRATECH CEMENT LTD AGM Management "To appoint a Director in place of Mr. Kumar Mangalam Birla For For He is eligible for re-election and has relevant experience in the field.
(DIN: 00012813), who retires by rotation and, being eligible,
offers himself for re-appointment"
18-Jul-18 ULTRATECH CEMENT LTD AGM Management "Appointment of M/s. BSR & Co. LLP, Chartered Accountants, Mumbai For For It is required under Companies Act.
(Registration No.:101248W/W 100022) as one of the Joint Statutory
Auditors of the Company & to fix their remuneration"
18-Jul-18 ULTRATECH CEMENT LTD AGM Management "Appointment of M/s. Khimji Kunverji & Co., Chartered Accountants, For For It is required under Companies Act.
Mumbai (Registration No.:105146W) as one of the Joint Statutory
Auditors of the Company & to fix their remuneration"
18-Jul-18 ULTRATECH CEMENT LTD AGM Management "/s. D. C. Dave & Co., Cost Accountants, Mumbai and M/s. N. D. Birla & For For It is required under Companies Act.
Co., Cost Accountants, Ahmedabad appointed by the Board of Directors
of the Company to conduct the audit of the cost records of the Company
for the financial year ending 31st March, 2019 be paid the remuneration"
18-Jul-18 ULTRATECH CEMENT LTD AGM Management "Issue of Redeemable Non-convertible Debentures on private placement For For The NCDs which are proposed to be issued will be within the overall borrowing
basis up to an amount of Rs. 9,000 crores" limits of Rs. 60 bn over and above the paid up capital and free reserves of the
company.
20-Jul-18 CEAT LTD. AGM Management "Adoption of: For For Accounts have been audited following all prescribed rules and regulations
a) the Audited Financial Statements of the Company for the fi-
nancial year ended March 31, 2018, together with the Reports of
the Board of Directors and the Auditors thereon; and
b) the Audited Consolidated Financial Statements of the Com-
pany for the financial year ended March 31, 2018, together with
the Report of the Auditors thereon"
20-Jul-18 CEAT LTD. AGM Management Declaration of dividend on Equity Shares for the financial year ended For For The total outflow on account of dividend is Rs.0.6 bn, same as previous year.
March 31, 2018 The dividend payout ratio is 20.1% v/s 15.4% in the previous year.
20-Jul-18 CEAT LTD. AGM Management Re-appointment of Mr. Hari L. Mundra (DIN: 00287029) as a Director of For For Hari L. Mundra is the former CFO of RPG Group. His reappointment is in line
the Company with all statutory requirements.
20-Jul-18 CEAT LTD. AGM Management Ratification of appointment of Messrs S R B C & CO LLP, Statutory Au- For For SRBC & Co were reappointed as the statutory auditors for a five-year term in
ditors of the Company 2017 AGM. Their ratification is in line with all statutory requirements.
20-Jul-18 CEAT LTD. AGM Management Authority for appointment of Branch Auditors. For For The company seeks approval to authorize the Board of Directors to appoint
branch auditors in consultation with the company’s auditors – these auditors will
audit the branches outside India.
768
20-Jul-18 CEAT LTD. AGM Management Appointment of Mr. Pierre E. Cohade (DIN: 00468035), as Director of the For For Pierre E. Cohade is the former CEO of Triangle Tyre, China. Presently he is Se-
Company. nior Advisor to CCL (Centre for Creative Leadership) in China. His appointment
is in line with all statutory requirements.
20-Jul-18 CEAT LTD. AGM Management Ratification of remuneration payable to Messrs D. C. Dave & Co., Cost For For The total remuneration proposed to be paid to the cost auditors is reasonable
Auditors of the Company compared to the size and scale of operations.
20-Jul-18 CEAT LTD. AGM Management Re-appointment of Mr. Arnab Banerjee (DIN: 06559516) as Whole-time For For The proposed remuneration is estimated at Rs. 30.2mn, which is in line with the
Director designated as the Executive Director-Operations of the Company size and complexity of his role and comparable to peers. The company must
for a further period of 5 (five) years consider providing more granular information regarding the proposed bonus to
be paid as well as performance metrics that drive such bonus payouts.
20-Jul-18 CEAT LTD. AGM Management Approval for making offer(s) or invitation(s) to subscribe secured/unse- For For The proposed issuance will be carved out of the company’s Rs.10 bn borrowing
cured, non-convertible debentures/bonds or such other debt securities limit, which was approved by shareholders in September 2014 AGM.
(“debt securities”) through private placement basis in one or more se-
ries/ tranches, not exceeding Rs. 5,00,00,00,000 (Rupees Five Hundred
Crores only).
20-Jul-18 CEAT LTD. AGM Management Approval for payment of remuneration/commission to Non-Executive For For Harsh Vardhan Goenka, the promoter, receives a large proportion of the ag-
Directors, not exceeding 3 (Three) percent of the net profits calculated gregate commission paid to Ceat’s non-executive directors. Notwithstanding,
pursuant to Section 198 of the Act overall commission has ranged between 1.3% to 1.5% of net profit over the past
five years. We expect the company to be judicious in its payouts.
20-Jul-18 SUNDARAM FINANCE LTD. AGM Management The Audited Financial Statements, including the Consolidated Financial For For Accounts have been audited following all the prescribed rules and regulations
Statements, of the Company, for the year ended 31st March 2018 and and have no adverse comments from Auditors
the Board’s and Auditors’ Reports thereon, be and are hereby approved
and adopted.
20-Jul-18 SUNDARAM FINANCE LTD. AGM Management A final dividend of Rs.7.00 per share (70% on the face value of Rs.10/-), For For Payment of dividend has no negative impact for minority shareholders
as recommended by the Directors, be and is hereby declared for the year
ended 31st March 2018
20-Jul-18 SUNDARAM FINANCE LTD. AGM Management Sri S Viji (DIN00139043) the retiring director to be re-elected as Director For For His reappointment is in line with the statutory requirements
of the company liable for retirement by rotation
20-Jul-18 SUNDARAM FINANCE LTD. AGM Management M/s. Sundaram & Srinivasan, Chartered Accountants as Statutory Audi- For For Ratification is in line with the statutory requirements
tors of the company
20-Jul-18 SUNDARAM FINANCE LTD. AGM Management Sri S. Ram (holding DIN: 00018309), the retiring Director, be and is here- For For His reappointment is in line with the statutory requirements
by re-elected as Director of the Company, liable for retirement by rotation.
20-Jul-18 SUNDARAM FINANCE LTD. AGM Management The Company to make loans to any persons or other bodies corporate, For For These transactions are in ordinary course of business and have no negative
from time to time, for such amounts, such that the outstanding loans to- impact for minority shareholders
gether with investments made, guarantees given and securities provided
by the Company, does not exceed 50,000 cr
20-Jul-18 SUNDARAM FINANCE LTD. AGM Management The Company be and is hereby authorised to pay remuneration by way of For For In the past five years, the company has paid 0.11% to 0.18% of net profit as com-
commission to the Non-Executive Directors upto 1% of the net profits of mission to its non-executive directors. The overall commission paid has ranged
the company, commencing from the financial year 2019-20. between Rs.5.3 mn to Rs.9.6 mn. We expect the company to remain judicious in
its commission to non-executive directors.
19-Jul-18 Bandhan Bank Limited AGM Management "Adoption of financial statements for the year ended March 31, 2018. For For Accounts have been audited following all the prescribed rules and regulations
" and have no adverse comments from Auditors
19-Jul-18 Bandhan Bank Limited AGM Management Declaration of dividend on equity shares. For For Payment of dividend has no negative impact for minority shareholders
19-Jul-18 Bandhan Bank Limited AGM Management "Appointment of a director in place of Mr. Ranodeb Roy For For His reappointment is in line with the statutory requirements
(DIN: 00328764), who retires by rotation and being eligible,
offers himself for re-appointment."
19-Jul-18 Bandhan Bank Limited AGM Management Re-appointment and fixation of remuneration of Statutory Auditors. For For The reappointment of S.R. Batliboi is in-line with the statutory requirements
769
19-Jul-18 Bandhan Bank Limited AGM Management "Appointment of Mr. Harun Rasid Khan (DIN 07456806), as In- For For His appointment is in line with the statutory requirements
dependent Director, Non-executive Part time Chairman and
approval of his remuneration"
19-Jul-18 Bandhan Bank Limited AGM Management "Re-appointment of Mr. Chandra Shekhar Ghosh (DIN: 00342477) as For For His reappointment is in line with the statutory requirements
Managing Director & CEO of the Bank and approval of his
remuneration."
19-Jul-18 Bandhan Bank Limited AGM Management Re-appointment of Mr. Snehomoy Bhattacharya (DIN:02422012) as an For For His reappointment is in line with the statutory requirements
Independent Director of the Bank
19-Jul-18 Bandhan Bank Limited AGM Management Re-appointment of Prof. Krishnamurthy Venkata Subramanian For For His reappointment is in line with the statutory requirements
(DIN:00487747)as an Independent Director of the Bank.
19-Jul-18 Bandhan Bank Limited AGM Management Re-appointment of Mr. Chintaman Mahadeo Dixit (DIN: 00524318) as an For For His reappointment is in line with the statutory requirements
Independent Director of the Bank.
19-Jul-18 Bandhan Bank Limited AGM Management Re-appointment of Mr. Sisir Kumar Chakrabarti (DIN: 02848624) as an For For His reappointment is in line with the statutory requirements
Independent Director of the Bank.
19-Jul-18 Bandhan Bank Limited AGM Management Re-appointment of Mr. Bhaskar Sen (DIN: 03193003) as an Independent For For His reappointment is in line with the statutory requirements
Director of the Bank.
19-Jul-18 Bandhan Bank Limited AGM Management Appointment of Ms. Georgina Elizabeth Baker as Nominee Director of IFC For For We believe Ms. Georgina Elizabeth Baker contnues to add value to the bank
& IFC FIG Investment Company I (jointly). despite she attending only 3 out f the 11 board meetings
19-Jul-18 Bandhan Bank Limited AGM Management Appointment of Mr. Dr. Holger Dirk Michaelis as Nominee Director of Ca- For For We believe Dr. Holger Dirk Michaelis contnues to add value to the bank from his
ladium Investment Pte. Ltd. vast experinec despite he attending 64% of the board meetings in FY18
19-Jul-18 Bandhan Bank Limited AGM Management Appointment of Mr. Pravir Kumar Vohra (DIN: 00082545) as an Indepen- For For His appointment is in line with the statutory requirements
dent Director of the Bank.
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management "To receive, consider and adopt: For For Accounts have been audited following all the prescribed rules and regulations
COMPANY LTD (a) The Audited Standalone Revenue Account, Profit and Loss Account and have no adverse comments from Auditors
year ended March 31, 2018, and the Balance Sheet as at that date,
together with the
reports of the Directors’, Management, and Auditors thereon;
(b) The Audited Consolidated Revenue Account, Profit and Loss Account
year ended March 31, 2018 and the Balance Sheet as at that date,
together with the Reports of the Auditors thereon."
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management To confirm the payment of Interim Dividend on Equity Shares as final For For Payment of dividend has no negative impact for minority shareholders
COMPANY LTD dividend.
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management "To appoint a Director in place of Mr. Deepak Parekh (DIN: 00009078), For For His reappointment is in line with the statutory requirements
COMPANY LTD who retires by rotation and, being eligible, offers himself for
re-appointment"
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management "To appoint a Director in place of Ms. Vibha Padalkar (DIN: 01682810), For For Her reappointment is in line with the statutory requirements
COMPANY LTD who retires by rotation and, being eligible, offers herself for
re-appointment"
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management "Appointment of statutory auditors, the appointment of M/s Price Wa- For For Ratification of appointment of Price Waterhouse is in-line with the statutory re-
COMPANY LTD terhouse Chartered Accountants LLP, (Firm Registration No. 012754N/ quirements
N500016 issued by The Institute of Chartered Accountants of India) and
M/s GM Kapadia & Co, Chartered Accountants, (Firm Registration No.
104767W issued by The Institute of Chartered Accountants of India) as
the Joint Statutory Auditors of the Company on a remuneration of
770
Rs. 5,700,000 each i.e. total remuneration of Rs. 11,400,000 "
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management Mr. Ketan Dalal (DIN: 00003236), as an Independent Director of the Com- For For His appointment is in line with the statutory requirements
COMPANY LTD pany for a period of 5 years,shall not be liable to retire by rotation
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management "Mr. AKT Chari (DIN: 00746153), as an Independent Director of the For For His appointment is in line with the statutory requirements
COMPANY LTD Company for a period of 5 years, shall not be liable to retire by rotation"
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management "Dr. Jamshed J Irani (DIN: 00311104), as an Independent Director of the For For His appointment is in line with the statutory requirements. We are comforable
COMPANY LTD Company for a period of 5 years, shall not be liable to retire by rotation" with the clarification provided by the company.
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management "Remuneration of Mr Amitabh Chaudhry (DIN: 00531120), Managing For For His proposed remuneration of Rs. 217.8 mn (subject to approval of IRDAI) is
COMPANY LTD Director & Chief Executive Officer, be and is hereby approved as under comparable to peers and in line with the size and complexity of the business.
with effect from April 1, 2018"
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management Revision in the remuneration of Ms Vibha Padalkar (DIN: 01682810), Ex- For For Her proposed remuneration of Rs.104.6 mn (subject to approval of IRDAI) is
COMPANY LTD ecutive Director & Chief Financial Officer comparable to peers and in line with the size and complexity of the business.
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management Approval of Employee Stock Option Scheme-2018 for the eligible employ- For For The ESOS-2018 will result in a dilution of upto ~0.2% for the existing sharehold-
COMPANY LTD ees of the Company ers. As the options under the scheme will be issued at market price, the cost
impact on the company will be reasonable (~2.3% of FY18 consolidated PAT),
and it will align employee incentives to shareholder returns.
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management Approval of Employee Stock Option Scheme-2018 for the eligible employ- For For Through a separate resolution, the company seeks approval to grant options to
COMPANY LTD ees of Subsidiary Company (ies) of the Company the employees of its subsidiary companies (existing and future) within the overall
ceiling of 3.1 mn options under ESOS-2018 scheme.
20-Jul-18 HDFC STANDARD LIFE INSURANCE AGM Management Payment of Commission to Non-Executive Independent Directors For For The board is seeking approval of shareholders to fix payment of commission to
COMPANY LTD non-executive directors at an amount not exceeding 1% of the net profits. The
commission paid to non-executive directors in the past has been reasonable, but
as the company’s profits grow, it must consider setting a cap in absolute terms
on the commission payable
17-Jul-18 ASHOK LEYLAND LTD. AGM Management "To receive, consider and ad opt: a) the Audited Standalone Financial For For Accounts have been audited following all prescribed rules and regulations
Statements of the Company for the financial year ended March 31, 2018,
tog eth er w i th th e Reports of th e B oard of D i rec tors and the Audi-
tors thereon; and b) the Audited Consolidated Financial Statements of the
Company for the financial year ended March 31, 2018 together with the
Report of Auditors thereon."
17-Jul-18 ASHOK LEYLAND LTD. AGM Management To declare a dividend f or the year ended March 3 1, 2018. For For Total dividend for FY18 is Rs. 2.43 (Rs. 1.56 in FY17). The total dividend outflow
(including dividend tax for FY18) is Rs. 8.6 bn and the dividend payout ratio is
54.8%.
17-Jul-18 ASHOK LEYLAND LTD. AGM Management To appoint a Director in place of Mr. Dheeraj G Hinduj a (DIN: 00133410), For For Dheeraj Hinduja, 47, represents the promoter family on the board and is cur-
non-executive Chairman who retires by rotation and, being eligible, offers rently designated as the Chairperson. His reappointment meets all the statutory
himself for re-appointment requirements.
17-Jul-18 ASHOK LEYLAND LTD. AGM Management Remuneration payable to Messers Geeyes & Co., Cost Accountants, For For The total remuneration proposed is reasonable compared to the size and scale
(Firm Registration No. 00044), appointed by the Board of Directors as of the company’s operations.
Cost Auditors amounting to Rs. 7,00,000/-
25-Jul-18 TATA CHEMICALS LTD. AGM Management "To receive, consider and adopt the Audited Financial For For Accounts have been audited following all prescribed rules and regulations
Statements of the Company for the financial year ended
31 March, 2018, together with the Reports of the Board of Directors and
Auditors thereon."
25-Jul-18 TATA CHEMICALS LTD. AGM Management "To receive, consider and adopt the Audited Consolidat- For For Accounts have been audited following all prescribed rules and regulations
ed Financial Statements of the Company for the financial year
ended 31 March, 2018, together with the Report of the Auditors thereon."
25-Jul-18 TATA CHEMICALS LTD. AGM Management To declare dividend on the Ordinary Shares for the financial year ended For For The dividend for the year includes a special dividend of Rs.11 per share. The
771
31 March, 2018. total dividend amounts to Rs.6.7 bn. The dividend payout is 38.2% (48.7% in
FY17).
25-Jul-18 TATA CHEMICALS LTD. AGM Management "To appoint a Director in place of Mr. Bhaskar Bhat (DIN: For For Bhaskar Bhat (DIN: 00148778) is the MD of Titan, a group company. His reap-
00148778), who retires by rotation, and being eligible, offers pointment is in line with the statutory requirements.
himself for re-appointment."
25-Jul-18 TATA CHEMICALS LTD. AGM Management Appointment of Ms. Padmini Khare Kaicker as a Director and as an Inde- For For "Ms. Padmini Khare Kaicker (DIN: 00296388) is the Managing Partner of B. K.
pendent Director of the Company Khare & Co. Her appointment is in line with the statutory requirements."
25-Jul-18 TATA CHEMICALS LTD. AGM Management Appointment of Mr. Zarir Langrana as a Director of the Company For For "Zarir Langrana (DIN: 06362438) is being appointed as the head of the Global
Chemicals Business of Tata Chemicals. His appointment is in line with the
statutory requirements."
25-Jul-18 TATA CHEMICALS LTD. AGM Management Appointment of Mr. Zarir Langrana as Executive Director of the Company For For His proposed remuneration of Rs.28.2 mn is in line with peers and commensu-
rate with the size and complexity of the business.
25-Jul-18 TATA CHEMICALS LTD. AGM Management Revision in the terms of remuneration of Mr. R. Mukundan Managing For For The company proposes to revise the cap on his basic remuneration from Rs.0.8
Director mn to Rs.0.9mn per month for the remainder of his current term. The revision
aligns his basic pay to that proposed for his new term. His overall remuneration
will continue to remain in line with peers and commensurate with the size and
complexity of the business.
25-Jul-18 TATA CHEMICALS LTD. AGM Management Re-appointment of Mr. R. Mukundan as Managing Director & CEO of the For For "His proposed remuneration of Rs.66.2 mn is in line with peers and commensu-
Company rate with the size and complexity of the business."
25-Jul-18 TATA CHEMICALS LTD. AGM Management Payment of commission to Non-Executive Directors For For "The company has been judicious in paying commission to non-executive
directors in the past. Over the last three years, the commission amount has
ranged from between 0.3%- 0.5% of standalone profit after tax, which is
judicious considering the size of the company. As its profits grow, the company
must consider setting a cap in absolute terms on the commission payable."
25-Jul-18 TATA CHEMICALS LTD. AGM Management Ratification of Remuneration of Cost Auditors For For The remuneration to be paid to the cost auditor is reasonable compared to the
size and scale of the company’s operations.
27-Jul-18 ITC LTD AGM Management To consider and adopt the Financial Statements of the Company for the For For Accounts have been audited following all prescribed rules and regulations
financial year ended 31st March, 2018, the Consolidated Financial State-
ments for the said financial year and the Reports of the Board of Directors
and the Auditors
27-Jul-18 ITC LTD AGM Management To declare dividend for the financial year ended 31st March, 2018. For For The total dividend payout (including dividend distribution tax) for FY18 aggre-
gates to Rs 75.8 bn. The dividend payout ratio for FY18 was 67.4%.
27-Jul-18 ITC LTD AGM Management To appoint a Director in place of Mr. Nakul Anand (DIN: 00022279) who For For Nakul Anand oversees the Lifestyle Retailing, Hospitality, Travel & Tourism Busi-
retires by rotation and, being eligible, offers himself for re-election nesses. He retires by rotation and his reappointment is in line with the statutory
requirements.
27-Jul-18 ITC LTD AGM Management To appoint a Director in place of Mr. Sanjiv Puri (DIN: 00280529) who For For Sanjiv Puri has been re-designated as the Managing Director. He retires by rota-
retires by rotation and, being eligible, offers himself for re-election tion and his reappointment is in line with the statutory requirements.
27-Jul-18 ITC LTD AGM Management Remuneration of Rs. 2,95,00,000/- to Messrs. Deloitte Haskins & Sells to For For It is required under Companies Act.
conduct the audit for the financial year 2018-19
27-Jul-18 ITC LTD AGM Management "Mr. John Pulinthanam (DIN: 07881040) be and is hereby appointed a Director For For John Pulinthanam was appointed as an Additional Director from 16 May 2018.
of the Company, liable to retire by rotation," He is the Chairperson and Managing Director of National Insurance Company
Limited (NIC). He has been appointed as the representative of the General In-
surers’ (Public Sector) Association of India. His appointment is in line with the
27-Jul-18 ITC LTD AGM Management Re-designation of Mr. Sanjiv Puri (DIN: 00280529) as Managing Director For For Sanjiv Puri was appointed as CEO on 5 February 2017. The company now pro-
of the Company poses to re-designate him as Managing Director.
772
27-Jul-18 ITC LTD AGM Management Re-appointment of Mr. Sanjiv Puri (DIN: 00280529) as a Director, not li- For For Sanjiv Puri has been re-designated as Managing Director from 16 May 2018. He
able to retire by rotation, and also as Managing Director of the Company is a professional. His estimated remuneration in FY20 at Rs.258 mn is commen-
surate with the size and performance of the company. Further, a large propor-
tion of his remuneration is variable since it is expected to emanate from stock
options. Given that stock options form a large part of Sanjiv Puri’s remuneration
structure, the company must consider disclosing the maximum number of stock
options it proposes to grant or set a cap (in value terms) on the aggregate value
of stock options he will be granted as part of his remuneration.
27-Jul-18 ITC LTD AGM Management Re-appointment of Mr. Nakul Anand (DIN: 00022279) as a Director, liable For For His estimated remuneration of around Rs.145 is commensurate with the size
to retire by rotation, and also as Wholetime Director of the Company and performance of the company. Further, a large proportion of his remuneration
is variable since it is expected to emanate from stock options. Given that stock
options form a large part of Nakul Anand’s remuneration structure, the company
must consider disclosing the maximum number of stock options it proposes to
grant or set a cap (in value terms) on the aggregate value of stock options he will
be granted as part of his remuneration.
27-Jul-18 ITC LTD AGM Management Re-appointment of Mr. Rajiv Tandon (DIN: 00042227) as a Director, liable For For His estimated remuneration of around Rs.140 mn, is commensurate with the
to retire by rotation, and also as Wholetime Director of the Company size and performance of the company. Further, a large proportion of his remu-
neration is variable since it is expected to emanate from stock options. Given
that stock options form a large part of Rajiv Tandon’s remuneration structure,
the company must consider disclosing the maximum number of stock options it
proposes to grant or set a cap (in value terms) on the aggregate value of stock
options he will be granted as part of his remuneration.
27-Jul-18 ITC LTD AGM Management Remuneration and benefits (apart from the remuneration as applicable For For Given Mr Deveshwar's contribution, experience and value addition to the com-
to the other Non-Executive Directors of the Company) payable to Mr. Yo- pany over the years, we are ok with this proposal
gesh Chander Deveshwar (DIN: 00044171) as Chairman of the Company
27-Jul-18 ITC LTD AGM Management Re-appointment of Mr. Yogesh Chander Deveshwar (DIN: 00044171) as For For His reappointment is in line with the statutory requirements
Non-Executive Director, not liable to retire by rotation, and Chairman of
the Company
27-Jul-18 ITC LTD AGM Management Consent be and is hereby accorded for Mr. Sahibzada Syed Habib-ur- For For Recent changes in SEBI’s LODR require directors having attained the age of 75
Rehman (DIN: 00050862) to continue as an Independent Director of the to be reapproved by shareholders through a special resolution. In line with this
Company regulatory change, Sahibzada Syed Habib-ur-Rehman’s (S S Rehman) term as
an Independent Director requires shareholder approval: he will cross 75 years
on 20 March 2019. His continuation is in line with statutory requirements.
27-Jul-18 ITC LTD AGM Management "Re-appointment of Mr. Shilabhadra Banerjee (DIN: 02922331) as an For For Shilabhadra Banerjee, 70, has been associated with the company since 4 Feb-
Independent Director of the Company" ruary 2010: reappointing him for another five years will result in a cumulative
tenure of over 10 years. We believe that the tenure of directors is inversely pro-
portionate to their independence. Therefore, we will consider him as non-inde-
pendent once he crosses tenure of 10 years.
27-Jul-18 ITC LTD AGM Management Non-Executive Directors of the Company be paid annually, for a period For For ITC proposes to pay annual commission to each non-executive director between
not exceeding five years, for each of the financial years commencing Rs.7 mn and Rs.10 mn, subject to the aggregate commission not exceeding 1%
from 1st April, 2019, commission ranging between Rs. 70,00,000/- and of profits. Having a cap on the amount of commission to be paid to non-executive
Rs. 1,00,00,000/- directors is a good practice.
27-Jul-18 ITC LTD AGM Management "Remuneration of Mr. P. Raju Iyer, Cost Accountant, appointed by the For For The proposed remuneration is comparable to the size and complexity of the
Board of Directors of the Company as the Cost Auditor to conduct audit business.
of Cost Records maintained by the Company in respect of ‘Paper and
Paperboard’ and ‘Nicotine Gum’ products for the financial year 2018-19,
at Rs. 4,50,000/-"
27-Jul-18 ITC LTD AGM Management "Remuneration of Messrs. Shome & Banerjee, Cost Accountants, appointed For For The proposed remuneration is comparable to the size and complexity of the
773
by the Board of Directors of the Company as the Cost Auditors to conduct business.
audit of Cost Records maintained in respect of all applicable products
of the Company, other than ‘Paper and Paperboard’ and ‘Nicotine Gum’
products, for the financial year 2018-19, at Rs. 5,75,000/-"
25-Jul-18 Syngene International Limited AGM Management Adoption of financial statements For For Accounts have been audited following prescribed rules and regulations by stat-
utory auditors.
25-Jul-18 Syngene International Limited AGM Management Declaration of Dividend For For Syngene International proposes to declare a final dividend of Rs.50 per share
and a special dividend of Rs.5.0 per share. In FY18, the total dividend including
dividend distribution tax amounts to Rs.1.4 bn. The dividend payout ratio is 35%
v/s 37% in FY17.
25-Jul-18 Syngene International Limited AGM Management Appointment of John Shaw as director liable to retire by rotation For For John Shaw, 69, is Vice-Chairperson, Biocon. His reappointment is in line with all
25-Jul-18 Syngene International Limited AGM Management Ratification for appointment of Statutory Auditors and fixing their remu- For For The ratification is in line with our Voting Guidelines on Auditor (Re)appointments
neration and with the requirements of Section 139 of the Companies Act 2013.
25-Jul-18 Syngene International Limited AGM Management To appoint Vinita Bali (DIN: 00032940) as an Independent Director of the For For Appointment is in line with statutory requirements.
Company.
25-Jul-18 Syngene International Limited AGM Management To re-appoint Suresh Talwar (DIN: 00001456) as an Independent Director For For Appointment is in line with statutory requirements.
of the Company.
25-Jul-18 Syngene International Limited AGM Management "To approve Syngene International Limited Restricted Stock Units Plan For Against Under the scheme, the company will grant 10 mn restricted stock units at face
2018 and grant of Restricted Stock Units to eligible employees of the value of Rs.10.0, with a vesting period of upto five years. We do not favour
Company." restricted stock unit plans where the exercise price is at a significant discount
to market price.
25-Jul-18 Syngene International Limited AGM Management "To approve grant of Restricted Stock Units to the employees of present For Against The company proposes to extend the RSU Plan 2018 scheme to the employees
and future subsidiary company (ies) under Syngene International Limited of its subsidiary companies. Our view on this resolution is linked to our opinion
Restricted Stock Units Plan 2018." on resolution #7.
25-Jul-18 Syngene International Limited AGM Management "To approve the provision of money by the Company for purchase of For Against The company seeks approval to give loan to the trust of upto 5% of the paid up
its own shares by Syngene Employees Welfare Trust for the benefit of capital and free reserves of the previous financial year to enable primary issue
employees under Syngene International Limited Restricted Stock of shares. Our view on this resolution is linked to our opinion on resolutions #7.
Units Plan 2018"
21-Jul-18 KARNATAKA BANK LTD. AGM Management To receive, consider and adopt the audited financial statements for the For For Accounts have been audited following all prescribed rules and regulations
financial year ended March 31, 2018 together with the reports of the Au-
ditors and the Directors thereon.
21-Jul-18 KARNATAKA BANK LTD. AGM Management To declare dividend. For For The total dividend payout (including dividend distribution tax) for FY18 aggre-
gates to Rs.1.02 bn. The dividend payout ratio for FY18 was 31.3% (30.1%
in FY17).
21-Jul-18 KARNATAKA BANK LTD. AGM Management To appoint a director in place of Mr. P. Jayarama Bhat (DIN: 00041500), For For P. Jayarama Bhat is the Chairperson of the Bank. He was the Managing Director
who retires by rotation and being eligible, offers himself for re-appoint- & CEO of the Bank from July 2009 to April 2017. His reappointment is in line with
ment. all statutory requirements.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Appointment of M/s. Manohar Chowdhry & Associates and M/s. Badari, For For The appointment of Manohar Chowdhry & Associates and Badari, Madhusud-
Madhusudhan & Srinivasan as Statutory Central Auditors of the Bank for han & Srinivasan as joint central statutory auditors is in line with the statutory re-
the year 2018-19 and authorizing Board to fix their remuneration quirements. However, Karnataka Bank needs to separate the resolutions of the
two auditor reappointments so that shareholders can vote on them separately.
Further, as a good practice, we believe the Bank must provide some background
of the auditors and the board’s rationale for appointing them.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Appointment of Branch Auditors to audit the accounts of Branches/Offices For For Karnataka Bank has 800 branches. The resolution enables the Board to appoint
for the financial year 2018-19 and authorizing Board to fix their remu- branch auditors in consultation with their joint central statutory auditors.
neration.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Appointment of Mrs. Mythily Ramesh (DIN : 06959991), as an Indepen- For For Ms. Mythily Ramesh was Senior Vice President at Wipro. She has over 25 years
774
dent Director of the Bank. of experience in handling technological processes and systems. Her appoint-
ment is in line with statutory requirements.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Revision in Basic Salary payable to Mr. Mahabaleshwara M S, Managing For For MS Mahabaleshwara was appointed as the Managing Director for a three-year
Director & CEO of the Bank. term effective 15 April 2017. The proposed remuneration of about Rs.9.8 mn is
comparable to peers, and commensurate with the size and complexity of the
business.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Amendment of Clause 5 of the Memorandum of Association i.e., increase For For The Bank proposes to increase the authorized share capital from Rs.5,000 mn
in Authorised Share Capital. (500 mn equity shares of face value Rs. 10 each) to Rs.8,000 mn (800 mn eq-
uity shares of face value Rs. 10 each). This requires alteration to memorandum
of association of the company. The alteration will enable the company to raise
capital to meet BASEL III requirements.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Amendment of Article 3(a) of the Articles of Association i.e., increase in For For The Bank proposes to increase the authorized share capital from Rs.5,000 mn
Authorised Share Capital. (500 mn equity shares of face value Rs. 10 each) to Rs.8,000 mn (800 mn equity
shares of face value Rs. 10 each). This requires alteration to articles of associ-
ation of the company. The alteration will enable the company to raise capital to
meet BASEL III requirements.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Re-appointment of Mr. Ashok Haranahalli (DIN : 05339634), as an Inde- For For Ashok Haranahalli is the former Advocate General of Karnataka. He is the part-
pendent Director of the Bank. ner in M/s Haranahalli Law Partners. His reappointment is in line with statutory
requirements.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Re-appointment of Mr. Rammohan Rao Belle (DIN : 02370794), as an For For Rammohan Rao Belle is the former MD and CEO of SBI General Insurance Co
Independent Director of the Bank. Ltd. His reappointment is in line with statutory requirements.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Amendment of Article 51(u) of the Articles of Association i.e., delegation For For The proposed alteration is administrative in nature and will not impact the oper-
of Share Transmission powers etc. ations of the Bank. The alteration will enable the Board or Executive Committee
or Managing Director & CEO to resolve requests related to registering trans-
mission, deletion of names, transposition of securities and for issue of duplicate
share certificates, etc.
21-Jul-18 KARNATAKA BANK LTD. AGM Management Introduction of Employees Stock Option Scheme 2018 (ESOS 2018). For For We believe that the issue of stock options at market price is a good governance
practice. The scheme will result in a dilution of less than 2%.
24-Jul-18 INFO EDGE (INDIA) LTD AGM Management "To receive, consider and adopt: For For Accounts have been audited following all prescribed rules and regulations
a. the Audited Standalone Financial Statements of the Company for the
year ended March 31, 2018 and the Reports of the Board of Directors
and Auditors thereon; and
the year ended March 31, 2018 and the Report of the Auditors thereon."
24-Jul-18 INFO EDGE (INDIA) LTD AGM Management "To declare a final dividend of Rs.1.50/- per equity share of Rs.10/- each fully For For Dividend payout is beneficial to shareholders
paid up, and to confirm the two interim dividends of Rs.2.50/- per equity share
& Rs.1.50/- per equity share of Rs. 10/- each fully paid up, already paid,
for the year ended March 31, 2018."
24-Jul-18 INFO EDGE (INDIA) LTD AGM Management To appoint a Director in place of Mr. Hitesh Oberoi (DIN- 01189953), who For For His appointment is line with statutory requirements
retires by rotation, and being eligible, offers himself for re-appointment.
24-Jul-18 INFO EDGE (INDIA) LTD AGM Management "Appointment of Mis. S.R. Batliboi & Associates LLP, Chartered Accountants For For The ratification is in line with the statutory requirements.
( Firm Registration Number: 101049W/E300004], as the Statutory Auditors
of the Company & to fix their remuneration"
24-Jul-18 INFO EDGE (INDIA) LTD AGM Management Company be and are hereby authorized to appoint Auditors to conduct the For For The ratification is in line with the statutory requirements.
audit of accounts of Branch Office( s],
24-Jul-18 INFO EDGE (INDIA) LTD AGM Management Mr. Ashish Gupta [DIN: 00521511), be and is hereby appointed as an For For We believe, re-appointment of Ashish on the board of Info Edge is a welcome
Independent Director of the Company to hold office for a term of upto 5 move, keeping in mind the expertise and ideas he brings to the table, in addition
[five) consecutive years to being a highly professional person.
775
25-Jul-18 TATA ELXSI LTD AGM Management Adoption of financial statements for the year ended March 31, 2018 to- For For Accounts have been audited following all prescribed rules and regulations
gether with Directors’ Report and Auditors’ Report
25-Jul-18 TATA ELXSI LTD AGM Management Declaration of dividend for the financial year 2017-18 For For The total dividend outflow including dividend tax for FY18 is Rs.0.8 bn. The divi-
dend payout ratio for FY18 is 34.4%.
25-Jul-18 TATA ELXSI LTD AGM Management Re-appointment of Mr. N.G. Subramaniam as a Director of the Company, For For N Ganapathy Subramaniam is the Chairperson. He is liable to retire by rotation
liable to retire by rotation and his reappointment is in line with all statutory requirements.
25-Jul-18 TATA ELXSI LTD AGM Management Ratification of the re-appointment of statutory auditors. For For BSR & Co. LLP were appointed in the FY17 AGM for a period of five years.
The ratification is in line with our Voting Policy on Auditor (Re)Appointment and
follows the spirit of Section 139 of the Companies Act, 2013.
25-Jul-18 TTK PRESTIGE LTD AGM Management "To receive, consider and adopt the audited Financial Statements of the For For Accounts have been audited following all prescribed rules and regulations
Company for the financial year ended 31st March, 2018 together with
the Reports of the Board of Directors and the Auditors thereon"
25-Jul-18 TTK PRESTIGE LTD AGM Management "To declare dividend of Rs. 30/- (Rupees Thirty Only) per equity share For For Dividend payout is beneficial to shareholders
for the financial year 2017-18."
25-Jul-18 TTK PRESTIGE LTD AGM Management "To appoint a Director in place of Mr. K. Shankaran (DIN: 00043205) who For For His appointment is line with statutory requirements
retires by rotation and being eligible,offers himself for re-appointment"
25-Jul-18 TTK PRESTIGE LTD AGM Management "Remuneration of Rs. 3,00,000/- (Rupees Three lakhs only) plus taxes For For The ratification is in line with the statutory requirements.
and levies as applicable and reimbursement of travel and out-of-pock-
et expenses, payable to Mr. V. Kalyanaraman, Cost Accountant for
conducting the audit of cost records"
25-Jul-18 TTK PRESTIGE LTD AGM Management "Mr. T.T. Jagannathan (DIN: 00191522), be and is hereby appointed as a For For His appointment is line with statutory requirements
Director of the Company"
25-Jul-18 TTK PRESTIGE LTD AGM Management "Re-appointment of Mr. T.T. Jagannathan as Whole-time Director (in the For For His appointment is line with statutory requirements
designation of Executive Chairman) of the Company"
25-Jul-18 TTK PRESTIGE LTD AGM Management "Approval for continuation of current term of Mr. R. Srinivasan, Indepen- For Against The concerned person has been on the board for more than 15 years. A new
dent Director" inductee on the board can bring new thoughts to the company.
25-Jul-18 TTK PRESTIGE LTD AGM Management "Approval for continuation of current term of Dr.(Mrs.) Vandana For Against The concerned person has been on the board for more than 15 years. A new
Walvekar, Independent Director" inductee on the board can bring new thoughts to the company.
24-Jul-18 HERO MOTOCORP LTD AGM Management "To receive, consider and adopt the audited financial statements of the For For Accounts have been audited following all prescribed rules and regulations
Company for the financial year ended March 31, 2018 together with
the reports of the Directors’ and Auditors’ thereon and the consolidated
audited financial statements of the Company for the financial year ended
March 31, 2018"
24-Jul-18 HERO MOTOCORP LTD AGM Management "To confirm payment of Interim dividend of Rs. 55/- per equity share and For For The total dividend for FY18 is Rs. 95.0 per share, while it was Rs. 85.0 in FY17.
to declare a final dividend of Rs. 40/- per equity share for the financial The total dividend outflow (including dividend tax for FY18) is Rs. 22.8 bn, while
year 2017-18." the dividend payout ratio is 61.8%.
24-Jul-18 HERO MOTOCORP LTD AGM Management "To appoint a Director in place of Mr. Suman Kant Munjal (DIN: 0002803) For For Sunil Kant Munjal, 65, is part of the promoter family and Managing Director,
who retires by rotation and being eligible, offers himself for Rockman Industries. He retires by rotation and his reappointment is in line with
re-appointment." statutory requirements.
24-Jul-18 HERO MOTOCORP LTD AGM Management "Ratification of remuneration of Cost Auditors for financial year 2018-19." For For The total remuneration proposed is reasonable compared to the size and scale
18-Jul-18 Sundaram Finance Holdings Ltd AGM Management Audited Financial Statements, including the Consolidated Financial State- For For Accounts have been audited following all the prescribed rules and regulations
ments, of the Company, for the year ended 31st March 2018 and the and have no adverse comments from Auditors
Board’s and Auditors’ Reports thereon, be and are hereby approved and
adopted
18-Jul-18 Sundaram Finance Holdings Ltd AGM Management Declaration of Dividend for the Financial Year 2017-18. For For Payment of dividend has no negative impact for minority shareholders
776
18-Jul-18 Sundaram Finance Holdings Ltd AGM Management Appointment of a director in the place of Sri Harsha Viji, who retires by For For His reappointment is in line with the statutory requirements
rotation and being eligible, seeks re-appointment.
18-Jul-18 Sundaram Finance Holdings Ltd AGM Management Ratification of appointment of Statutory Auditors of the Company For For Reappointment is in line with the statutory requirements
18-Jul-18 Sundaram Finance Holdings Ltd AGM Management Approval for material related party transactions For For Pursuant to the demerger of non-core businesses of Sundaram Finance Ltd.
(SFL), SFHL will be rendering business process outsourcing services, training,
learning and development services and/or letting out space to, as well as avail-
ing services from, related parties including SFL and Royal Sundaram General
Insurance Co. Ltd. The proposed transactions are entered in the ordinary course
of business and are at an arms-length.
18-Jul-18 Sundaram Finance Holdings Ltd AGM Management Approval of payment of remuneration by way of commission to Directors For For The proposed limit on commission to non-executive directors is reasonable
19-Jul-18 Bajaj Finserv Ltd. AGM Management "Adoption of standalone and consolidated financial statements for the For For Accounts have been audited following all the prescribed rules and regulations
year ended 31 March 2018 and the Directors’ and Auditors’ Reports and have no adverse comments from Auditors
thereon"
19-Jul-18 Bajaj Finserv Ltd. AGM Management Declaration of dividend of H 1.75 per equity share (35%) of face value of For For Payment of dividend has no negative impact for minority shareholders
H 5 each, for the year ended 31 March 2018
19-Jul-18 Bajaj Finserv Ltd. AGM Management Re-appointment of Rajiv Bajaj (DIN 00018262), who retires by rotation For For His reappointment is in line with the statutory requirements
19-Jul-18 Bajaj Finserv Ltd. AGM Management To authorise the Board to fix the remuneration of S R B C & CO LLP, For For The auditors were paid Rs.10mn in FY18 and Rs.9.4mn in FY17. The company
Chartered Accountants, Statutory Auditors of the Company has not disclosed the amount of remuneration that will be paid to the statutory
auditors in the future. Notwithstanding, we expect the company to be judicious
in future auditor payouts.
19-Jul-18 Bajaj Finserv Ltd. AGM Management Ratification of remuneration to Cost Auditor for the year 2018-19 For For The total remuneration proposed to be paid to the cost auditors is reasonable
compared to the size and scale of operations.
19-Jul-18 Bajaj Finserv Ltd. AGM Management Appointment of Dr. Naushad Forbes as an Independent Director For For His appointment is in line with the statutory requirements
19-Jul-18 Bajaj Finserv Ltd. AGM Management Approval for the BFS-ESOS For For "The explanation given by the company in this regard is as follows "" The ESOS
Scheme is fully compliant with all regulations and no Director has any interest
in the matter. As a financial services company, people are our biggest asset
and ESOS is a powerful means of attracting and retaining high quality talent.
In fact, one of common queries we receive from institutional investors during
our interactions is whether we have the right remuneration policies, including
ESOS to attract talent and to retain our key people. Our listed subsidiary Bajaj
Finance has already demonstrated how an effective ESOS scheme can result in
enhanced shareholder value through retention of a strong management team.
The concern of the said advisory firm is that, while the scheme
is fully compliant with applicable regulations, the exercise peri-
od of 8 years is too long and does not fit within their internal guide-
lines. There is no mention of what is a reasonable exercise period.
We believe that, in a dynamic industry like ourselves where there is constant
competition for talent, the Board of Directors needs to have the flexibility to
quickly adapt the ESOS in line with market practice while also differentiating,
where required. The maximum exercise period is kept longer so that the Board
can decide, when required, to adapt the scheme with the objective of attracting
and retaining talent. The resolution is an enabling resolution so that the Board
and its compensation committee can make the required changes quickly. We are
comfortable with the clarification provided by the company."
19-Jul-18 Bajaj Finserv Ltd. AGM Management Issue and allotment of equity shares to employees of holding and subsid- For For "The explanation given by the company in this regard is as follows "" The ESOS
iary company(ies) under the BFS-ESOS Scheme is fully compliant with all regulations and no Director has any interest
777
19-Jul-18 Bajaj Finserv Ltd. AGM Management Approval of acquisition of equity shares from secondary market for imple- For For "The explanation given by the company in this regard is as follows "" The ESOS
mentation of BFS-ESOS Scheme is fully compliant with all regulations and no Director has any interest
19-Jul-18 Bajaj Finance Limited AGM Management "Adoption of standalone and consolidated financial statements for the For For Accounts have been audited following all the prescribed rules and regulations
year ended 31 March 2018" and have no adverse comments from Auditors
19-Jul-18 Bajaj Finance Limited AGM Management To declare final dividend of Rs. 4.0 per share (face value of Rs. 2 each) For For Payment of dividend has no negative impact for minority shareholders
778
19-Jul-18 Bajaj Finance Limited AGM Management To reappoint Rajeev Jain as director For For His reappointment is in line with the statutory requirements
19-Jul-18 Bajaj Finance Limited AGM Management Authorize the board to fix remuneration for SRBC & Co LLP as statutory For For The auditors were paid Rs.7.4mn in FY18 and Rs.6.5mn in FY17. The company
auditors from FY19 till FY22 (end of tenure) has not disclosed the amount of remuneration that will be paid to the statutory
auditors in the future. Notwithstanding, we expect the company to be judicious
in future auditor payouts.
19-Jul-18 Bajaj Finance Limited AGM Management To issue non-convertible debentures under private placement basis For For Issue of NCDs is part of normal business activity for NBFCs and hence has no
negative impact for minority shareholders
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "To receive, consider and adopt the financial statements (standalone and For For Accounts have been audited following all prescribed rules and regulations
consolidated) of the Company for the year ended 31 March 2018, includ-
ing the audited balance sheet as at 31 March 2018 and the statement
of profit and loss of the Company for the year ended on that date along
with the reports of the board of directors and auditors thereon."
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "To declare dividend on the equity shares for the financial year 2017-18." For For Dr. Reddy’s proposes to declare a dividend of Rs.20.0 per share. In FY18, the
total dividend including dividend distribution tax amounts to Rs.4.0 bn. The divi-
dend payout ratio is 70.5% v/s 28.8% in FY17.
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "To reappoint Mr. K Satish Reddy (DIN: 00129701), who retires by For For K. Satish Reddy, 51, is promoter Chairperson. His reappointment is in line with
rotation, and being eligible offers himself for the reappointment." statutory requirements.
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "Reappointment Of Mr. Anupam Puri (Din: 00209113) As An Independent For For His reappointment is in line with the statutory requirements
Director For A Second Term Of One Year Period,"
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "Appointment Of Mr. Prasad R Menon (Din: 00005078) As An Indepen- For For Prasad R. Menon, 72, has over 40 years of experience in the chemical and
dent Director" power industry. His appointment is in line with statutory requirements.
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "Approval Of ‘Dr. Reddy’S Employees Stock Option Scheme, 2018’ For For The 5 mn options represents about 3% of the total share capital. The 2018 ESOS
(‘2018 Esos’), Which Would In Aggregate Be Exercisable Into Not More will result in a dilution of up to ~1.5% for the existing shareholders. As the options
Than 50,00,000 Equity Shares Of Par Value Of Rs. 5/- Each" under the scheme will be issued at market price, the cost impact on the company
will be reasonable, and it will align employee incentives to shareholder returns.
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "Grant Of Stock Options To The Employees Of The Subsidiary Com- For For Through a separate resolution, the company seeks approval to grant options to
panies Of The Company Under ‘Dr. Reddy’S Employees Stock Option the employees of its subsidiary companies (existing and future) within the overall
Scheme,2018’ (‘2018 Esos’)" ceiling of 5.0 mn options under 2018 ESOS.
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "Implementation Of The ‘Dr. Reddy’S Employees Stock Option Scheme, For For In the event that Dr. Reddy’s chooses to implement 2018 ESOS through the trust
2018’ (‘2018 Esos’) Through Dr. Reddy’S Employees Esos Trust" route, it seeks to approve secondary acquisition of equity shares by the trust.
The company plans to issue 5.0 mn options which will be issued at market price.
This aligns employee incentives to shareholder returns.
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "Authorisation To Dr. Reddy’S Employees Esos Trust (Esos Trust) For For For Dr. Reddy’s is seeking shareholders’ approval for the trust created in resolution
Secondary Acquisition Of Equity Shares For The Purpose Of Stock #8 above to be allowed acquisition of equity shares up to 2.5 mn, through sec-
Options" ondary market, to award employees stock options under 2018 ESOS.
27-Jul-18 DR REDDY'S LABORATORIES LTD AGM Management "To Ratify The Remuneration Payable To Cost Auditors, M/S. Sagar & For For The remuneration to be paid to the cost auditor is reasonable compared to the
Associates, Cost Accountants For The Financial Year Ending 31 March size and scale of operations
2019"
02-Aug-18 Exide Industries Ltd. AGM Management "Adoption of audited financial statements (including audited con- For For There is no adverse observation/comment in Audiotrs report/ Financials and
solidated financial statements) for the financial year ended notes to a/cs, hence it can be adopted. The director's report is satisfactory and
31st March, 2018 and the Reports of the Directors and the Auditors there- can be adopted
on."
02-Aug-18 Exide Industries Ltd. AGM Management Confirmation of Interim dividend and declaration of final dividend for the For For Company has generated enough Profits to pay dividend to the shareholders and
financial year ended 31st March, 2018. in the line with market practise.
02-Aug-18 Exide Industries Ltd. AGM Management Re-appoinment of Mr. A.K.Mukherjee (DIN: 00131626) who retires by ro- For For He is eligible for re-election and has relevant experience in the field.
tation and, being eligible, offers himself for re-appoinment.
02-Aug-18 Exide Industries Ltd. AGM Management Re-appoinment of Mr. Arun Mittal (DIN: 00412767) who retires by rotation For For He is eligible for re-election and has relevant experience in the field.
779
and, being eligible, offers himself for re-appoinment.
02-Aug-18 Exide Industries Ltd. AGM Management Ratification of remuneration payable to Cost Auditors for financial year For For It is required under Companies Act.
2018-19.
02-Aug-18 Exide Industries Ltd. AGM Management Appointment of Mr. Surin Shailesh Kapadia (DIN: 00770828) as an inde- For For He is eligible for election and has relevant experience in the field.
pendent director
02-Aug-18 Exide Industries Ltd. AGM Management Amendment in terms of remuneration payable to Whole-time directors For For Exide proposes to enhance the overall limit of the performance bonus of Whole-
Time Directors till the expiry of their respective terms to further motivate them.
The proposed remuneration is commensurate with the size and complexity of
their individual responsibilities and is comparable to peers.
28-Jul-18 Vinati Organics Ltd. AGM Management "Adoption of the audited financial statements of the Company for the For For Accounts have been audited following prescribed rules and regulations by stat-
financial year ended 31st March, 2018 together with the reports of the utory auditors.
Board of Directors and Auditors’ thereon"
28-Jul-18 Vinati Organics Ltd. AGM Management Declaration of final dividend on equity shares For For Vinati Organics proposes to declare a final dividend of Rs.4.5 per share. In
FY18, the total dividend including dividend distribution tax amounts to Rs.278.3
mn. The dividend payout ratio is 19.3% v/s 2.2% in FY17.
28-Jul-18 Vinati Organics Ltd. AGM Management "Re-appointment of Mr. Sunil Saraf (DIN: 00076887) as a Director of the For For Reappointment is in line with statutory requirements.
Company"
26-Jul-18 Grindwell Norton Ltd. AGM Management "To receive, consider and adopt: For For Accounts have been audited following all the prescribed rules and regulations .
a) The audited financial statements of the company for the financial
year ended March 31 2018, together with the reports of the board of
directors and the auditors thereon b)The audited consolidated financial
statements of the company for the financial year ended march 31,2018
together with the report of the auditors thereon "
26-Jul-18 Grindwell Norton Ltd. AGM Management To declare dividend on equity shares for the financial year ended March For For The total dividend outflow including dividend tax for FY18 is Rs.667.4 mn. The
31, 2018 dividend payout ratio for FY18 is 45.3%
26-Jul-18 Grindwell Norton Ltd. AGM Management To appoint a Director in place of Ms Marie Armelle Chupin DIN 00066499 For For Ms. Marie-Armelle Chupin is the Vice President – Legal Affairs of the High-Per-
who retires by rotation and being eligible offers herself for reappointment formance Materials sector of Compagnie de Saint-Gobain (the ultimate holding
Company of Grindwell Norton Limited). She is liable to retire by rotation and her
reappointment is in line with all statutory requirements.
26-Jul-18 Grindwell Norton Ltd. AGM Management Ratification of renumeration of cost auditors of the company For For The total remuneration proposed is reasonable compared to the size and scale
21-Jul-18 Quess Corp AGM Management Adoption of financial statements (including consolidated financial state- For For Accounts have been audited following all prescribed rules and regulations
ments) of the Company for financial year ending March 31, 2018 and the
reports of the Board and Auditors thereon
21-Jul-18 Quess Corp AGM Management Appointment of Mr. Subrata Kumar Nag (DIN: 02234000), as a director For For His appointment is line with statutory requirements
liable to retire by rotation.
21-Jul-18 Quess Corp AGM Management Appointment of Deloitte Haskins & Sells LLP as the Statutory Auditors For For The ratification is in line with the statutory requirements.
of the Company
21-Jul-18 Quess Corp AGM Management Revision in Commission payable to Independent Directors For For The ratification is in line with the statutory requirements.
21-Jul-18 Quess Corp AGM Management Appointment of Mr. Subrata Kumar Nag (DIN: 02234000) as the Execu- For For His appointment is line with statutory requirements
tive Director & Chief Executive Officer of the Company
21-Jul-18 Quess Corp AGM Management Re-appointment of Mr. Ajit Abraham Isaac (“Ajit Isaac”) (DIN: 00087168) For For His appointment is line with statutory requirements
as the Chairman & Managing Director of the Company
21-Jul-18 Quess Corp AGM Management Fixation of fees under Section 20 of the Companies Act, 2013 For Against We believe that shareholders may get reluctant to ask information from the
company
28-Jul-18 JK CEMENT LTD AGM Management "To receive, consider and adopt For For There is no adverse observation/comment in Audiotrs report/ Financials and
780
a) the Audited Standalone Financial Statements of the Company for the notes to a/cs, hence it can be adopted. The director's report is satisfactory and
Financial Year ended 31st March, 2018, together with the Reports of can be adopted
Directors and Auditors thereon.
b) the Audited Consolidated Financial Statements of the Company for
the Financial Year ended 31st March, 2018, together with the Reports of
Auditors thereon."
28-Jul-18 JK CEMENT LTD AGM Management To declare Dividend on Equity Shares for the year ended 31st March, For For Company has generated enough Profits to pay dividend to the shareholders and
2018 . in the line with market practise.
28-Jul-18 JK CEMENT LTD AGM Management "To appoint a Director in place of Mr. K.N. Khandelwal (DIN 00037250) For For He is eligible for re-election and has relevant experience in the field.
(aged about 74 years), who retires by rotation, and being eligible, offers
himself for reappointment."
28-Jul-18 JK CEMENT LTD AGM Management Remuneration of Rs 5,70,000 to be paid to M/s. K. G. Goyal & Company, For For It is required under Companies Act.
Cost Accountants,
28-Jul-18 JK CEMENT LTD AGM Management "Company be and is hereby accorded, to subscribe For For The NCDs which are proposed to be issued will be within the overall borrowing
to Non-Convertible Debentures (“NCD”) (whether secured or unsecured) limits of Rs. 75 bn.
on a private placement basis to Nationalised Banks, Indian Private
Banks, Foreign Banks/Other Banks/ Financial Institutional Trusts/ Other
eligible Investors, in one or more tranches during the current financial
year ending 31st March, 2019 upto a limit of Rs. 500 Crores
"
28-Jul-18 JK CEMENT LTD AGM Management "To offer, issue and allot For For Assuming the entire amount is raised at current market price of Rs. 858.4 per
equity shares (“Equity Shares”) and /or Global Depository Receipts share, 8.2 mn fresh shares need to be allotted in order to raise Rs.7.0 bn. This
(“GDRs”) and /or American Depository Receipts (“ADRs”) (“Securities”) will result in equity dilution of 10.4% on the post–issuance share capital of the
in the course of domestic and / or international offerings representing company. The company is likely to use the capital to expand its grey cement and
either equity shares or a combination of the foregoing for an amount not white cement based grey putty production capacity and for future expansion.
exceeding Rs. 700 Crores"
24-Jul-18 JSW STEEL LTD. AGM Management To receive, consider and adopt the audited financial statements of the For Abstain*
Company for the financial year ended March 31, 2018 and the reports of
the Board of Directors and auditors thereon
24-Jul-18 JSW STEEL LTD. AGM Management To Declare a dividend on the 10% cumulative Redeemable Preference For Abstain*
Shares of the Company for the financial year 2017-78
24-Jul-18 JSW STEEL LTD. AGM Management To Declare cumulative dividend on the 0.01 % cumulative Redeemable For Abstain*
Preference Shares of the Company
24-Jul-18 JSW STEEL LTD. AGM Management To Declare dividend on the Equity shares of the Company for the financial For Abstain*
year 2017-18
24-Jul-18 JSW STEEL LTD. AGM Management To appoint a Director in place of Mr. Seshagiri Rao MVS (DIN: For Abstain*
00029136), who retires by rotation and, being eligible, offers himself for
re-appointment.
24-Jul-18 JSW STEEL LTD. AGM Management Remuneration of Rs. 15 Lakh to be paid to M/s Shome & Banerjee, Cost For Abstain*
Auditors of the Company
24-Jul-18 JSW STEEL LTD. AGM Management Mrs. Punita Kumar Sinha (DIN: 05229262), be and is hereby re-appointed For Abstain*
as a Director of the Company.
24-Jul-18 JSW STEEL LTD. AGM Management To making offer & invitation to Subscribe to secured / unsecured redeem- For Abstain*
able non-convertible debentures in one or more tranches, aggregating
up to Rs. 10,000/-
24-Jul-18 JSW STEEL LTD. AGM Management To Create, offer, issue & allot in one or more tranches Non Convertible For Abstain*
Debentures with warrants for an amount not exceeding rs. 4000 Crores
781
& Equity Share and / or fully Convertible debenture for an amount not
exceeding Rs. 4000 Crores
24-Jul-18 JSW STEEL LTD. AGM Management To give any loan to a person or other body corporate, upto an maximum For Abstain*
aggregate amount of Rs. 20000 Crores
26-Jul-18 DABUR INDIA LTD. AGM Management Adoption of the Audited Standalone Financial Statements for Financial For For Accounts have been audited following all prescribed rules and regulations
Year ended 31.03.2018, reports of Board of Directors and Auditors there-
on.
26-Jul-18 DABUR INDIA LTD. AGM Management Adoption of the Audited Consolidated Financial Statements for Financial For For Accounts have been audited following all prescribed rules and regulations
Year ended 31.03.2018 and report of Auditors thereon
26-Jul-18 DABUR INDIA LTD. AGM Management Confirmation of interim dividend already paid and declaration of nal divi- For For Dabur India Limited paid an interim dividend of Rs. 1.25 per equity share of face
dend (including special dividend) on equity shares for the Financial Year value Re. 1. The final dividend of Rs. 6.25 per share includes a special dividend
ended 31.03.2018. of Rs. 5 per share. The total payout (including the final dividend, interim dividend,
special dividend and dividend distribution tax) is Rs.15.9 bn. The dividend pay-
out for FY18 is 148.3%.
26-Jul-18 DABUR INDIA LTD. AGM Management Re-appointment of Mr. Saket Burman (DIN: 05208674) as director, who For For Saket Burman is part of the promoter group. He retires by rotation and his reap-
retires by rotation. pointment is in line with all statutory requirements.
26-Jul-18 DABUR INDIA LTD. AGM Management Approval and rati cation of remuneration payable to Cost Auditors for Fi- For For The proposed remuneration is comparable to the size and complexity of the
nancial Year 2018-19. business.
26-Jul-18 DABUR INDIA LTD. AGM Management Authorising the Board of Directors under section186 of the Companies For For Dabur India proposes to make investments or give loans for its business require-
Act, 2013 for giving of Loan, guarantee or security in connection with a ments and for the growth of subsidiaries, joint ventures and associates. On 31
loan to any person or other body corporate and acquisition of securities of March 2018, the company has utilised ~81% of the available limit under Section
any other body corporate up to Rs.8000 crore. 186 of the Companies Act 2013 (Rs.40 bn., which was previously approved by
shareholders). The support to joint ventures and subsidiaries is in the course of
normal business operations. Notwithstanding, the proposed limit is high, and the
company must consider providing more granular information regarding the use
of the increased limits.
26-Jul-18 DABUR INDIA LTD. AGM Management Pursuant to SEBI (LODR) Regulations 2015, approval for continuation For For He is eligible for re-election and has relevant experience in the field.
of appointment of Mr R C Bhargava (DIN: 00007620) as Non-Executive
Independent Director w.e.f. 1/4/2019 up to the conclusion of AGM of the
company to be held in the calendar year 2019.
26-Jul-18 DABUR INDIA LTD. AGM Management Pursuant to SEBI (LODR) Regulations 2015, approval for continuation For For He is eligible for re-election and has relevant experience in the field.
of appointment of Dr. S Narayan (DIN: 00094081) as Non-Executive In-
dependent Director w.e.f. 1/4/2019 up to the conclusion of AGM of the
company to be held in the calendar year 2019.
26-Jul-18 INDUSIND BANK LTD. AGM Management To receive, consider and adopt the Audited Financial Statements (Stand- For For Accounts have been audited following all the prescribed rules and regulations
alone and Consolidated) for the Financial Year ended March 31, 2018, and have no adverse comments from Auditors
together with the Reports of the Board of Directors and Auditors thereon.
26-Jul-18 INDUSIND BANK LTD. AGM Management To declare Dividend on Equity Shares of the Bank for the Financial Year For For Payment of dividend has no negative impact for minority shareholders
ended March 31, 2018.
26-Jul-18 INDUSIND BANK LTD. AGM Management To appoint a Director in place of Mr. R. Seshasayee (DIN: 00047985), who For For His reappointment is in line with all statutory requirements
retires by rotation and, being eligible, offers himself for re-appointment
26-Jul-18 INDUSIND BANK LTD. AGM Management M/s S. R. Batliboi & Co. LLP, Chartered Accountants, (ICAI Firm Regis- For For The appointment is in line with all statutory requirements
tration Number 301003E / E300005), be and are hereby appointed as
Statutory Auditors of the Bank & to fix their remuneration
26-Jul-18 INDUSIND BANK LTD. AGM Management Re-appointment of Mr. Romesh Sobti (DIN: 00031034), as Managing Di- For For His reappointment is in line with all statutory requirements
rector & CEO of the Bank
26-Jul-18 INDUSIND BANK LTD. AGM Management Appointment of Mr. Yashodhan M. Kale (DIN: 00013782) as Non-Exec- For For His reappointment is in line with all statutory requirements
utive Director
782
26-Jul-18 INDUSIND BANK LTD. AGM Management Borrowing of monies pursuant to Section 180(1)(c) of the Companies Act, For For Raising of funds via borrowings is part of normal business activity for banks and
2013, and other applicable provisions has no negative impact for minority shareholders
26-Jul-18 INDUSIND BANK LTD. AGM Management Issue of Long-Term Bonds / Non-Convertible Debentures on Private For For The issuance of all debt securities on private placement basis will be within the
Placement Basis aggregating up to an amount not exceeding Rs.20,000 overall borrowing limit and is part of normal business activity for the bank
crores
26-Jul-18 INDUSIND BANK LTD. AGM Management To increase the shareholding limit for Registered Foreign Institutional In- For For As on 31 March 2018, FPIs/ FIIs held 46.45% (excluding ADR/GDR) stake in
vestors (“FIIs”) / Foreign Portfolio Investors (“FPIs”) upto an aggregate IndusInd Bank. The increased shareholding limit for foreign investors will give
limit of 74% of the Paid-Up Equity Share Capital of the Bank the company additional flexibility in raising capital.
24-Jul-18 BHARTI INFRATEL LTD. AGM Management "To receive, consider and adopt the standalone and For Abstain*
consolidated financial statements of the Company for
the financial year ended March 31, 2018"
24-Jul-18 BHARTI INFRATEL LTD. AGM Management Declaration of dividend on equity shares For Abstain*
24-Jul-18 BHARTI INFRATEL LTD. AGM Management "Re-appointment of Tao Yih Arthur Lang (DIN: 07798156) For Abstain*
as a Director liable to retire by rotation"
24-Jul-18 BHARTI INFRATEL LTD. AGM Management "Ratification of the appointment of M/s. Deloitte For Abstain*
Haskins & Sells LLP, Chartered Accountants, Gurgaon (Registration no.
117366W/ W- 100018) as the Statutory Auditors of the Company"
24-Jul-18 BHARTI INFRATEL LTD. AGM Management "Appointment of Anita Kapur (DIN: 07902012) as an Independent For Abstain*
Director"
24-Jul-18 BHARTI INFRATEL LTD. AGM Management "Re-appointment of Akhil Gupta (DIN: 00028728) as an Executive For Abstain*
Chairman of the Company"
24-Jul-18 BHARTI INFRATEL LTD. AGM Management Approval of material related party transactions For Abstain**
26-Jul-18 SHRIRAM TRANSPORT FINANCE AGM Management "To receive, consider and adopt: For For Accounts have been audited following all prescribed rules and regulations
CO.L a. the Audited Financial Statements of the Company for the fi nancial
Directors and the Auditors thereon; and
the fi nancial year ended March 31, 2018, together with the Report of the
Auditors thereon"
26-Jul-18 SHRIRAM TRANSPORT FINANCE AGM Management "To confi rm the payment of Interim Dividend of Rs. 5/- per Equity Share For For The dividend per share for the year is Rs.11, aggregating to a total dividend of
CO.L of Rs. 10/- each and to declare a Final Dividend of Rs.6/- per Equity Rs.3 bn. The dividend payout is 19% (21.7% in FY17).
Share of Rs. 10/- each for the financial year ended March 31, 2018"
26-Jul-18 SHRIRAM TRANSPORT FINANCE AGM Management "To appoint a Director in place Mr. Puneet Bhatia (holding DIN For For His reappointment is in line with the statutory requirements
CO.L 00143973), who retires by rotation under Section 152 (6) of the Compa-
nies Act, 2013 and being eligible, off ers himself for re-appointment."
26-Jul-18 SHRIRAM TRANSPORT FINANCE AGM Management "Appointment of M/s Haribhakti & Co. LLP, Chartered Accountants, For For S Haribhakti & Co and Pijush Gupta & Co replaced S R Batliboi & Co and G
CO.L Mumbai (Firm Registration No. 103523W/W100048) and M/s Pijush D Apte & Co as the statutory auditors in the previous AGM. Their ratification
Gupta & Co. Chartered Accountants, Guru Gram (Firm Registration No. is in line with the statutory requirements. Pijush Gupta & Co have audited the
309015E) as Joint Auditors of the Company & to fix their remuneration" financial statements of Shriram group companies including Shriram City Union
Finance Ltd (from 1999 till 2017). Long association of Pijush Gupta & Co. as
statutory auditors may be suggestive of their proximity with the group.
30-Jul-18 BHARTI AIRTEL LIMITED CCM Management Scheme of Arrangement between Bharti Airtel Limited and Telesonic Net- For For With the acquisition of the consumer mobile undertaking of TTML, Bharti Airtel
works Limited and their respective shareholders and creditors under Sec- will add TTML’s 29 mn subscribers (on April 2018) to its subscriber base. Bharti
tions 230 to 232 of the Companies Act, 2013, as filed before the Tribunal Airtel does not assume any debt on account of the acquisition and will instead
only issue equity shares to the shareholders of TTML. Further, it allows Bharti
Airtel to increase its market share at a time when consolidation is taking place
783
across the telecom industry. The valuation of the consumer mobile undertaking
of TTML is in line with peers.
27-Jul-18 WABCO INDIA LTD. AGM Management The audited financial statement of the company for the financial year end- For For Accounts have been audited following all prescribed rules and regulations
ed 31st March 2018 consisting of the balance sheet as at 31st March,
2018, the statement of profit and loss the cash flow statement and the
statement of changes in equity for the year ended on that date and the
explanatory notes annexed to or forming part thereof together with the
reports of the Board of Directors and Auditors' thereon, be and are hereby
adopted
27-Jul-18 WABCO INDIA LTD. AGM Management "Recommendation of the Board of Directors of the Company, a dividend For For The total dividend outflow including dividend tax for FY17 is Rs. 0.2 bn. The
of Rs. 8/- per share on 1,89,67,584 equity shares of Rs. 5/- each dividend payout ratio is 6.7%.
fully paid up, which make up the entire paid-up equity capital of the
Company"
27-Jul-18 WABCO INDIA LTD. AGM Management "Lisa J Brown (DIN: 07053317), director liable to retire by rotation at this For For Lisa Brown, 40, is the Chief Legal Officer and Company Secretary, WABCO
meeting be and is hereby re-appointed as a Director of the Company Holdings Inc. She retires by rotation and her reappointment is in line with stat-
liable to retire by rotation" utory requirements.
27-Jul-18 WABCO INDIA LTD. AGM Management "Remuneration of Rs. 4,00,000/- payable to Mr. A N Raman, Cost For For The remuneration to be paid to the cost auditor is reasonable compared to the
Accountant," size and scale of the company’s operations.
27-Jul-18 WABCO INDIA LTD. AGM Management "Approval be and is hereby accorded to the related party transactions For Against "While the approval sought is for a one-year period, the quantum of transac-
entered into by the company with WABCO Europe BVBA, a related tions to be undertaken for FY18 has not been provided. However, they are
party" expected to increase in the same trend as the past few years. Royalty pay-
ments is one of the transactions that is included for approval for the resolution.
In FY18, the total royalty including professional fees and technical services paid
by WABCO India to its group companies amounts to 17% of pre-tax pre-royalty
profits, which is high and not commensurate with the growth in the company’s
profits, revenues or dividend payouts."
27-Jul-18 WABCO INDIA LTD. AGM Management "Company be and is hereby accorded to the under mentioned increase For For P Kaniappan is a professional and his estimated maximum FY19 remunera-
in the remuneration payable to Mr. P Kaniappan, Managing Director tion of Rs. 50.6 mn is in line with peers and commensurate with the size and
(DIN 02696192), from 1st January 2018" complexity of the business. The company should disclose the details of parent
company stock options proposed to be granted to him.
31-Jul-18 BLUE DART EXPRESS LTD. AGM Management "a) Adoption of Audited Financial Statements of the Company for the For For There is no adverse observation/comment in Audiotrs report/ Financials and
year ended March 31, 2018, Report of Board of Directors and Auditors notes to a/cs, hence it can be adopted. The director's report is satisfactory and
thereon. can be adopted
b) Adoption of Audited Consolidated Financial Statements of the
Company for the year ended March 31, 2018, together with Report of
Auditors thereon."
31-Jul-18 BLUE DART EXPRESS LTD. AGM Management Declaration of Dividend on Equity shares for the Financial year ended For For Company has generated enough Profits to pay dividend to the shareholders and
March 31, 2018. in the line with market practise.
31-Jul-18 BLUE DART EXPRESS LTD. AGM Management Re-appointment of Mr. Malcolm Monteiro (DIN: 00089757) as a Director, For For He is eligible for re-election and has relevant experience in the field.
liable to retire by rotation.
31-Jul-18 BLUE DART EXPRESS LTD. AGM Management Approval for Appointment of Mr. Charles Brewer (DIN: 07854413) as a For For He is eligible for election and has relevant experience in the field.
Director, liable to retire by rotation
31-Jul-18 BLUE DART EXPRESS LTD. AGM Management Approval for Appointment of Ms. Tulsi Nowlakha Mirchandaney (DIN: For For He is eligible for election and has relevant experience in the field.
01842520) as a Director, liable to retire by rotation
31-Jul-18 BLUE DART EXPRESS LTD. AGM Management "Approval for re-appointment of Mr. Anil Khanna (DIN: 01334483) as a For For He is eligible for re-election and has relevant experience in the field.
Managing Director for a period of 3 years with effect from February 21,
2018"
31-Jul-18 BLUE DART EXPRESS LTD. AGM Management "a) Approval for continuance of appointment of Mr. Sharad Upasani For For He is eligible for re-election and has relevant experience in the field.
784
(DIN: 01739334) as Independent Director beyond the age of 75 years
b) Approval for re-appointment of Mr. Sharad Upasani (DIN: 01739334)
for a second term of 5 (five) consecutive years commencing from July
23, 2019 till July 22, 2024"
27-Jul-18 COROMANDEL INTERNATIONAL AGM Management "Adoption of Audited Standalone Financial Statements for For For There is no adverse observation/comment in Audiotrs report/ Financials and
LTD. the financial year ended 31 March, 2018, together with the notes to a/cs, hence it can be adopted. The director's report is satisfactory and
Reports of the Board of Directors and the Auditors thereon." can be adopted
27-Jul-18 COROMANDEL INTERNATIONAL AGM Management "Adoption of Audited Consolidated Financial Statements for the financial For For There is no adverse observation/comment in Audiotrs report/ Financials and
LTD. year ended 31 March, 2018, together with the Report of the Auditors notes to a/cs, hence it can be adopted. The director's report is satisfactory and
thereon." can be adopted
27-Jul-18 COROMANDEL INTERNATIONAL AGM Management Declaration of Dividend for the year ended 31 March, 2018 For For Company has generated enough Profits to pay dividend to the shareholders and
LTD. in the line with market practise.
27-Jul-18 COROMANDEL INTERNATIONAL AGM Management Re-appointment of Mr. M M Venkatachalam, as a Director For For He is eligible for re-election and has relevant experience in the field.
LTD.
27-Jul-18 COROMANDEL INTERNATIONAL AGM Management Ratification of appointment of M/s. Deloitte Haskins & Sells as Statutory For For It is required under Companies Act.
LTD. Auditors
27-Jul-18 COROMANDEL INTERNATIONAL AGM Management Appointment of Mr. M M Murugappan as a Director For For He is eligible for election and has relevant experience in the field.
LTD.
27-Jul-18 COROMANDEL INTERNATIONAL AGM Management Ratification of payment of Remuneration to Cost Auditors for the year For For It is required under Companies Act.
LTD. 2018-19
30-Jul-18 SUN PHARMA ADVANCED RE- AGM Management Adoption of Financial Statements for the financial year ended 31st March For For Accounts have been audited following all the prescribed rules and regulations
SEARCH C 2018
30-Jul-18 SUN PHARMA ADVANCED RE- AGM Management Re-appointment of Mr. Sudhir V. Valia, who retires by rotation and being For For Sudhir V. Valia, 62, is promoter director. His reappointment is in line with all
SEARCH C eligible offers himself for re-appointment, as a Director statutory requirements.
30-Jul-18 SUN PHARMA ADVANCED RE- AGM Management Increase in the Authorized Share Capital of the Company. For For The proposed increase in authorized capital would require amendment to
SEARCH C Clause V of the Memorandum of Association.
30-Jul-18 SUN PHARMA ADVANCED RE- AGM Management Adoption of new Articles of Association For For With the coming into force of the Companies Act, 2013, several provisions of
SEARCH C the existing Articles of Association (AoA) of the company require alteration or
deletion. Accordingly, the company has proposed to replace the entire existing
AoA. With the revision, the company has dropped four discretionary powers of
the promoters. While there are still some provisions that are not in the interest of
minority shareholders, the revised AoA is an improvement over the previous one.
02-Aug-18 TORRENT POWER LTD AGM Management "To consider and adopt the Financial Statements (including Consolidated Fi- For For Accounts have been audited following all the prescribed rules and regulations .
nancial Statements) of the Company for the Financial Year ended 31st March,
2018, including reports of the Auditors and the Board of Directors thereon
"
02-Aug-18 TORRENT POWER LTD AGM Management To declare dividend of Rs. 5.00 per share on Equity Shares of the Com- For For The total dividend for FY18 is Rs. 5.0 per equity share (Rs. 2.2 in FY17). The
pany for the Financial Year ended 31st March, 2018. total dividend (including dividend tax) amounts to Rs. 2.9 bn and the dividend
payout ratio is 31.4%
02-Aug-18 TORRENT POWER LTD AGM Management "To appoint a Director in place of Shri Samir Mehta (DIN: 00061903), who For For Samir Mehta, 55, represents the promoter family on the board. He is now des-
retires by rotation and being eligible offers himself for re-appointment. ignated as the Chairperson and Managing Director of Torrent Power. He also
" serves in an executive capacity on the board of Torrent Pharma. As promoter
and executive chairman, he has a responsibility towards both companies. He
should consider stepping down from his executive responsibilities from the two
companies and provide guidance as non-executive chairman.
02-Aug-18 TORRENT POWER LTD AGM Management "Company be and is hereby accorded to delete the requirement, seeking For For The ratification of Price Waterhouse Chartered Accountants LLP’s appointment
ratification of appointment of Statutory Auditors (M/s. Price Waterhouse is in line with our Voting Guidelines on Auditor (Re)appointment, the require-
785
Chartered Accountants LLP)" ments of Section 139 of the Companies Act 2013 and SEBI’s order in case of
Satyam Computer Services Limited. However, Torrent Power must consider
appointing a joint auditor for smooth handover to new auditors, since Price Wa-
terhouse Chartered Accountants LLP may be unable to undertake the audit next
year, under the SEBI Order.
02-Aug-18 TORRENT POWER LTD AGM Management Appointment of Shri Samir Mehta (DIN: 00061903) as Executive For For Samir Mehta is also an Executive Chairperson in Torrent Pharmaceuticals Ltd.
Vice-Chairman and received a commission of remuneration of Rs. 150.0 mn in FY18, in addi-
tion to a commission of Rs. 100.0 mn received from Torrent Power in FY18.
We generally don’t support executives serving on two companies, as the ‘group
chairman, he has responsibilities towards both companies. We support this reso-
lution. He should consider stepping down from his executive responsibilities and
provide guidance as non-executive chairman.
02-Aug-18 TORRENT POWER LTD AGM Management Appointment of Shri Jinal Mehta (DIN: 02685284), as Whole-time Director For For There is significant improvement in financial performance of the company which
is reflected in the PAT number of the Company for FY 2017-18 at Rs. 9.35 bn;
representing an increase of over 117% over FY 17 numbers. The amount of
commission paid to Jinal Mehta for last 3 years at Rs. 1 cr for FY 2015-16;
Rs. 2.5 cr for FY 2016-17 and Rs. 2.5 cr for FY 2017-18; which is within the
threshold.
02-Aug-18 TORRENT POWER LTD AGM Management "M/s. Kirit Mehta & Co., Cost Accountants, Mumbai, the Cost Auditors For For The total remuneration proposed is reasonable compared to the size and scale
appointed by the Board of Directors of the Company & be paid remuner- of the company’s operations.
ation of Rs.12,00,000/-"
02-Aug-18 TORRENT POWER LTD AGM Management "Company be and is hereby accorded for modification in remunera- For For The range of salary mentioned in the resolution is to cover a period of 5 years.
tion for Shri Varun Mehta, a relative of Shri Sudhir Mehta, Chairman For FY 2018-19, Varun Mehta will be paid a total remuneration of about Rs. 64
Emeritus, Shri Samir Mehta, Executive Chairman and Shri Jinal Mehta, lacs, based on prevailing rules of the Company as applicable to all employees.
Managing Director" The compensation may please also be seen in light of his functional responsibil-
ities and educational qualifications.
02-Aug-18 TORRENT POWER LTD AGM Management "To borrow any sum or sums of moneys (apart from temporary loans ob- For For Torrent Power will need to raise capital to fund the growth plans of the compa-
tained from the Company’s Bankers in the ordinary course of business), ny. As on 31 March 2018, the company’s consolidated borrowings aggregated
from time to time, in such form and manner and on such terms and con- to Rs. 93.0 bn, with a debt/equity of 1.2x and debt to EBIDTA of 2.8x. Torrent
ditions as the Board may deem fit, as may be required for the purposes Power has been judicious in allocating capital and raising debt in the past and
of business of the Company , that the total amount so borrowed and we expect them to continue being judicious in the future. As a good practice,
outstanding at any point in time shall not exceed Rs. 20,000 Crore" the company must consider making disclosures on how the revised limit has
been arrived at.
02-Aug-18 TORRENT POWER LTD AGM Management "To mortgage, hypothecation, pledge, assignment and/or charge already For For Secured loans typically have easier repayment terms, less restrictive covenants,
created, in such form, manner and ranking and on such terms as the and marginally lower interest rates. The company has not specified the quantum
Board may deem fit in the interest of the Company, any or all of the of charges/ mortgages.
immovable and/or movable properties of the Company"
02-Aug-18 TORRENT POWER LTD AGM Management "Smt. Bhavna Doshi (DIN: 00400508), be and is hereby re-appointed as For For Ms. Bhavna Doshi, 63, has been on the board for the past three years. She is a
an Independent Director on the Board of the Company" fellow member of Institute of Chartered Accountants of India and is currently a
Senior Advisor at KPMG India. Her appointment as an Independent Director for
another term of three years meets all statutory requirements.
02-Aug-18 TORRENT POWER LTD AGM Management "Ms. Dharmishta N. Raval (DIN: 02792246), be and is hereby re-appoint- For For Ms. Dharmishta Raval, 65, has been on the board for the past three years. She
ed as an Independent Director on the Board of the Company" is an eminent lawyer and has over 38 years of professional experience. She is
also a former Executive Director in SEBI. Her appointment as an Independent
Director for another term of three years meets all statutory requirements.
02-Aug-18 TORRENT POWER LTD AGM Management "Shri Samir Barua (DIN: 00211077), be and is hereby re-appointed as an For For Over next 5 years, the Company will need to replace 6 Independent Directors
Independent Director on the Board of the Company" and Considering the difficulty in identifying the right candidate of stature and
experience who can benefit the Company, it was intended to appoint 3 IDs for
about 3 years & 2 IDs for 5 years (1 ID will retire by Mar19 & is not seeking
re-appointment). This would allow adequate time to identify replacements for the
786
retiring IDs with right candidates.
02-Aug-18 TORRENT POWER LTD AGM Management "Shri Keki Mistry (DIN: 00008886), be and is hereby re-appointed as an For For Keki Mistry, 64, is currently the Executive Vice-Chairperson and CEO of HDFC
Independent Director on the Board of the Company" and has been on the board for the past eight years. We will classify him as
a non-independent director, once his overall tenure on the board exceeds ten
years. His reappointment as an independent director for five years is in line with
02-Aug-18 TORRENT POWER LTD AGM Management Shri Pankaj Patel (DIN: 00131852), be and is hereby re-appointed as an For For Over next 5 years, the Company will need to replace 6 Independent Directors
Independent Director on the Board of the Company and Considering the difficulty in identifying the right candidate of stature and
experience who can benefit the Company, it was intended to appoint 3 IDs for
about 3 years & 2 IDs for 5 years (1 ID will retire by Mar19 & is not seeking
re-appointment). This would allow adequate time to identify replacements for the
retiring IDs with right candidates.
31-Jul-18 V-GUARD INDUSTRIES LTD. AGM Management "Adoption of Audited Standalone Financial Statements of the Com- For For Accounts have been audited following all the prescribed rules and regulations .
pany for the Financial Year ended March 31, 2018 and Audited
Consolidated Financial Statements of the Company for the Financial Year
ended March 31, 2018."
31-Jul-18 V-GUARD INDUSTRIES LTD. AGM Management To declare final dividend of Rs.0.70 (70 paise) per equity share for the For For The total dividend for the year amounts to Rs.358.6 mn. The dividend payout is
Financial Year 2017-18. 26.9% (24.7% in FY17).
31-Jul-18 V-GUARD INDUSTRIES LTD. AGM Management Re-appointment of Mr. Ramachandran V, Director, who retires by rotation For For Ramachandran V (DIN: 06576300) is the COO of the company. His reappoint-
and offers himself for re-appointment. ment is in line with the statutory requirements
31-Jul-18 V-GUARD INDUSTRIES LTD. AGM Management Re-appointment of Mr. Mithun K Chittilappilly as Managing Director for a For For His proposed remuneration of Rs.40.1 mn is commensurate with the size and
period of three years effective from April 01, 2018. scale of operations. Further, a large portion of his pay is variable, which will help
align pay with performance.
31-Jul-18 V-GUARD INDUSTRIES LTD. AGM Management Ratification of payment of Rs. 3,30,000/- as remuneration excluding taxes For For The remuneration to be paid to the cost auditor is reasonable compared to the
and reimbursement of out of pocket expenses to M/s. RA & Co., Cost size and scale of the company’s operations
Accountants, Mumbai, (Firm Registration No.000242), the Cost Auditors
of the Company for the Financial Year 2018-19.
31-Jul-18 V-GUARD INDUSTRIES LTD. AGM Management To continue the directorship of Mr. A K Nair, Non-Executive Independent For For "Recent changes in SEBI’s LODR require directors having attained the age of
Director. 75 to be reapproved by shareholders through a special resolution. In line with
this regulatory change, A K Nair’s (DIN: 00009148) term as an Independent
Director requires shareholder approval: he will cross 75 years in August 2018.
He has been on the board of V-Guard as an Independent Director since May
2009. The ratification is in line with the statutory requirements"
27-Jul-18 SUZLON ENERGY LTD. AGM Management "To receive, consider and adopt the Audited Financial Statements For For Accounts have been audited following all prescribed rules and regulations
of the Company for the financial year ended on March 31, 2018 on
standalone and consolidated basis and the reports of the Board of Direc-
tors and Auditors thereon"
27-Jul-18 SUZLON ENERGY LTD. AGM Management To appoint a director in place of Mr. Girish R.Tanti (DIN: 00002603), who For For Girish R. Tanti is part of the promoter family. He retires by rotation and his reap-
retires by rotation and being eligible offers himself for reappointment. pointment is in line with all the statutory requirements.
27-Jul-18 SUZLON ENERGY LTD. AGM Management To appoint a director in place of Mr. Tulsi R.Tanti (DIN: 00002283), who For For Tulsi R. Tanti is part of the promoter family. He is the Chairperson and Managing
retires by rotation and being eligible offers himself for reappointment. Director of the company. He retires by rotation and his reappointment is in line
with statutory requirements.
27-Jul-18 SUZLON ENERGY LTD. AGM Management To regularise Mr. Brij Mohan Sharma, a nominee of IDBI Bank Limited For For Brij Mohan Sharma is a field Chief General Manager, Pune of IDBI Bank. He has
as Director over 35 years of experience in Banking. His directorship is not liable to retire by
rotation. While we believe non-executive directors must be eligible to retire by
rotation, we make an exception for nominee directors of lenders in the context of
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Suzlon’s on-going efforts are managing its debt.
27-Jul-18 SUZLON ENERGY LTD. AGM Management "M/s. D.C.Dave & Co., Cost Accountants (Firm Registration No.000611), For For The proposed remuneration to be paid to the cost auditor is reasonable com-
the Cost Auditors appointed by the Board & be paid a remuneration pared to the size and scale of operations.
of Rs.5,00,000/-"
27-Jul-18 SUZLON ENERGY LTD. AGM Management To offer, issue and allot equity shares / equity linked instruments to an For For At current market price of Rs.7.47 per share, in order to raise Rs.20.0 bn, 2.67
extent of Rs.2,000 Crores bn fresh shares need to be allotted. Assuming the entire amount is raised, this
will result in equity dilution of 33% on the post–issuance share capital of the
company. Nevertheless, the company needs to raise equity to correct its cap-
ital structure: Suzlon is currently under a Corporate Debt Restructuring (CDR)
programme.
27-Jul-18 SUZLON ENERGY LTD. AGM Management "To offer, issue and allot redeemable non-convertible debentures For For The company proposed to raise this debt to refinance the current outstanding
/ non-equity linked instruments to an extent of Rs.900 Crores on loan from Power Finance Corporation Limited (PFC) aggregating Rs. 9.35 bn
private placement basis" (including interest due). These NCDs will be secured against the deferred pay-
ment guarantees of PFC itself. In refinancing the fund-based facilities taken from
PFC, the company will be able to convert it into a non-fund based facility thus
reducing some interest burden. The NCDs will be carved out of the current bor-
rowing limits.
27-Jul-18 BIOCON LTD. AGM Management Adoption of Audited Financial Statements for the year ended March 31, For For Accounts have been audited following all prescribed rules and regulations
2018
27-Jul-18 BIOCON LTD. AGM Management Declaration of dividend of Re.1/- per equity share For For Biocon proposes to declare a final dividend of Re.1.0 per share of Rs.5.0
each. In FY18, the total dividend including dividend distribution tax amounts to
Rs.722.1 mn. The dividend payout ratio is 30.3% v/s 13.9% in FY17.
27-Jul-18 BIOCON LTD. AGM Management Re-appointment of Mr. John Shaw, as Director, who retires by rotation and For For John Shaw, 69, is Vice-Chairperson, Biocon. His reappointment is in line with all
being eligible, seeks re-appointment the statutory requirements.
27-Jul-18 BIOCON LTD. AGM Management Ratification of appointment of M/s. B S R & Co. LLP, as Statutory Auditor For For The ratification is in line with our Voting Guidelines on Auditor (Re)appointments
of the Company. and with the requirements of Section 139 of the Companies Act 2013.
27-Jul-18 BIOCON LTD. AGM Management "Re-appointment of Dr. Jeremy Levin as Independent Director for a term For For Dr. Jeremy Levin has been on the company’s board for three years. His reap-
of five years up to the conclusion of 45th Annual General Meeting" pointment is in line with all statutory requirements. Jeremy Levin has attended
60% of the board meetings held in FY18 and 87% of the board meetings held
over a three-year period. We expect directors to take their responsibilities seri-
ously and attend all meetings.
27-Jul-18 BIOCON LTD. AGM Management "Re-appointment of Dr. Vijay Kuchroo as Indepen- For For His reappointment is in line with the statutory requirements
dent Director for a term of five years up to the conclusion
of 45th Annual General Meeting"
27-Jul-18 BIOCON LTD. AGM Management "Appointment of Mr. Bobby Kanubhai Parikh as Inde- For For Bobby Kanubhai Parikh, 54, is co-founder of BMR Advisors, a tax and transac-
pendent Director for a term of three years up to the tions firm. His appointment is in line with all statutory requirements.
conclusion of 43rd Annual General Meeting"
27-Jul-18 BIOCON LTD. AGM Management Ratification of the remuneration of M/s. Rao Murthy & Associates, Cost For For The proposed remuneration to be paid to the cost auditor in FY19 is reasonable
Auditors for FY 2018-19 compared to the size and scale of operations.
27-Jul-18 Equitas Holdings Limited AGM Management Adoption of Financial Statements For For Accounts have been audited following all prescribed rules and regulations
27-Jul-18 Equitas Holdings Limited AGM Management Appointment of Mr Bhaskar S (DIN : 02360919) as a Director liable to For For "Bhaskar S (DIN: 02360919) is the CEO of the company. His reappointment is
retire by rotation in line with the statutory requirements."
27-Jul-18 Equitas Holdings Limited AGM Management Ratification of appointment of M/s S R Batliboi & Associates LLP as Stat- For For "S. R. Batliboi & Associates LLP replaced Deloitte Haskins & Sells LLP as
utory Auditors of the Company till the conclusion of 12th Annual General the auditors in the previous AGM. Their ratification is in line with the statutory
Meeting requirements."
27-Jul-18 Equitas Holdings Limited AGM Management Appointment of Mr Viswanatha Prasad S (DIN : 00574928) as Indepen- For For "Viswanatha Prasad S (DIN: 00574928) is the founder of Caspian Advisors and
dent Director of the Company was its nominee on the board from November 2008. He stepped down in April
2016, when Caspian Advisors exited their stake through the IPO. Given that
788
a two-year cooling off period has passed, his appointment is in line with the
26-Jul-18 Bharat Financial Inclusion Lim AGM Management "To receive, consider and adopt the financial statements of the Company For For Accounts have been audited following all prescribed rules and regulations
for the financial year ended March 31, 2018 together with the Reports of
the Directors’ and Auditors"
26-Jul-18 Bharat Financial Inclusion Lim AGM Management "To appoint a director in place of Mr. Ashish Lakhanpal, who retires by For For Ashish Lakhanpal (DIN: 02410201) is the founder and MD of Kismet Capital,
rotation and, being eligible,seeks reappointment" LLC. His reappointment is in line with the statutory requirements.
26-Jul-18 Bharat Financial Inclusion Lim AGM Management "Appointment of BSR & Associates LLP, Chartered Accountants as Statutory For For BSR & Associates LLP replaced S.R Batliboi & Co., LLP as the auditors in the
Auditors & to fix their remuneration" previous AGM. Their ratification is in line with the statutory requirements.
26-Jul-18 Bharat Financial Inclusion Lim AGM Management "Reappointment of Mr. M. Ramachandra Rao [DIN: 03276291] as the For For His proposed pay of Rs.56.3 mn (without ESOPs) is in line with peers and com-
Managing Director & Chief Executive Officer of the Company mensurate with the size and scale of operations.
Reappointment of Mr. M. Ramachandra Rao [DIN: 03276291] as the
Managing Director & Chief Executive Officer of the Company"
26-Jul-18 Bharat Financial Inclusion Lim AGM Management "Issue and allotment of Non-Convertible Debentures and other debt For For The issuance of debt securities on private placement basis will be within the
securities on private placement basis, up to Rs.1000 crore on a private company’s proposed borrowing limit of Rs.125 bn.
placement basis, in one or more tranches, during the period of one year
from the date of passing of this Special Resolution by the Members,
within the overall borrowing limit of Rs.12,500 crore"
27-Jul-18 Mahindra & Mahindra Financial Ser- AGM Management Adoption of standalone and consolidated financial statements for the year For For Accounts have been audited following all the prescribed rules and regulations
vices Limited ended 31 March 2018 and have no adverse comments from Auditors
27-Jul-18 Mahindra & Mahindra Financial Ser- AGM Management To declare dividend of Rs. 4.0 on equity share of face value Rs. 2 each For For Payment of dividend has no negative impact for minority shareholders
vices Limited
27-Jul-18 Mahindra & Mahindra Financial Ser- AGM Management To reappoint Dr. Anish Shah, as a director liable to retire by rotation For For His reappointment is in line with the statutory requirements
vices Limited
27-Jul-18 Mahindra & Mahindra Financial Ser- AGM Management To ratify the appoint BSR & Co LLP as statutory auditors for one year For For The ratification of BSR & Co LLP as statutory auditors is in line with provisions of
vices Limited section 139 of the Companies Act 2013.
26-Jul-18 Cholamandalam Investment and Fi- AGM Management Adoption of financial statements for the year ended 31 March 2018 For For Accounts have been audited following all the prescribed rules and regulations
nance Co. Ltd. and have no adverse comments from Auditors
26-Jul-18 Cholamandalam Investment and Fi- AGM Management To confirm interim dividend of Rs. 4.5/- and declare final dividend of Rs. For For Payment of dividend has no negative impact for minority shareholders
nance Co. Ltd. 2.0/- per equity share for FY18
26-Jul-18 Cholamandalam Investment and Fi- AGM Management Reappoint N. Srinivasan as a Director For For His reappointment meets all statutory requirements
nance Co. Ltd.
26-Jul-18 Cholamandalam Investment and Fi- AGM Management Ratify S. R. Batliboi & Associates LLP as statutory auditors and fix their For For Their ratification is in line with all statutory requirements
nance Co. Ltd. remuneration at Rs.4.1 mn for FY19
26-Jul-18 Cholamandalam Investment and Fi- AGM Management Appoint Ashok Kumar Barat as an Independent Director for a period of For For His appointment meets all statutory requirements
nance Co. Ltd. five years w.e.f 31 October 2017
26-Jul-18 Cholamandalam Investment and Fi- AGM Management Appoint M. M. Murugappan as a Director For For His appointment meets all statutory requirements
nance Co. Ltd.
26-Jul-18 Cholamandalam Investment and Fi- AGM Management Approve increase in the borrowing limit from Rs 400 bn to Rs.600 bn For For Borrowings is part of normal business activity for NBFCs and will be used to
nance Co. Ltd. fund growth in business
26-Jul-18 Cholamandalam Investment and Fi- AGM Management To issue non-convertible debentures up to Rs 180 bn on a private place- For For Issue of NCDs is part of normal business activity for NBFCs. It does not have
nance Co. Ltd. ment basis any negative impact for minority shareholders
26-Jul-18 Canara Bank AGM Management To discuss, approve and adopt the Audited Balance Sheet of the Bank as For For Accounts have been audited following all prescribed rules and regulations
at 31st March 2018, Profit & Loss account for the year ended 31st March
2018, the Report of the Board of Directors on the working and activities of
789
the Bank for the period covered by the Accounts and the Auditors’ Report
on the Balance Sheet and Accounts.
26-Jul-18 Canara Bank AGM Management To Issue preference shares to QIBs/NRI/FII For For If the entire issue of Rs.70 bn is subscribed to at the current market price of
Rs.247.80 per share, Canara Bank will issue ~282.5 mn equity shares. This will
result in a dilution of 27.8% on the expanded equity base. Government of India’s
shareholding in the company will reduce to 52.4% and public shareholding will
increase to 47.6%. The capital infusion is necessary for growth.
26-Jul-18 Canara Bank AGM Management Issue of Shares to Employees and Whole time Directors of the Bank For For Of the proposed capital raise of Rs.70 bn (Resolution #2), Canara Bank propos-
es to raise upto Rs.10 bn from employees by issuing them equity shares at a
discount to market price. We view this scheme as deferred compensation that
will benefit the employees. In general, there is a wide gap in the remuneration
levels between public sector and private sector bank employees.
26-Jul-18 COLGATE-PALMOLIVE (INDIA) LTD. AGM Management "To consider and adopt the Audited Financial Statements of the Compa- For For Accounts have been audited following all prescribed rules and regulations
ny for the Financial Year ended March 31, 2018 and the Reports of the
Directors and the Auditors thereon"
26-Jul-18 COLGATE-PALMOLIVE (INDIA) LTD. AGM Management "To appoint a Director in place of Mr. Jacob Sebastian Madukkakuzy For For Jacob Sebastian Madukkakuzy (DIN: 07645510) is the CFO of the company. His
(DIN: 07645510), who retires by rotation and, being eligible, seeks reappointment is line with the statutory requirements.
re-appointment."
26-Jul-18 COLGATE-PALMOLIVE (INDIA) LTD. AGM Management "Appointment of M/s. SRBC & Co LLP, Chartered Accountants (Firm For For SRBC & Co. LLP replaced Price Waterhouse as the auditors in the previous
Registration No. 324982E / E300003) as the Statutory Auditors of the AGM. The ratification is in line with the statutory requirements.
Company & to fix their remuneration"
26-Jul-18 COLGATE-PALMOLIVE (INDIA) LTD. AGM Management "Ms. Sukanya Kripalu (DIN: 06994202), be and is hereby appointed For For Ms. Sukanya Kripalu (DIN: 06994202) is a marketing consultant and was previ-
as a Director of the Company" ously the CEO of Quadra Advisory. Her appointment is in line with the statutory
requirements.
31-Jul-18 CENTURY TEXTILES & INDUSTRIES AGM Management "To receive, consider and adopt For For Accounts have been audited following all prescribed rules and regulations
a) the Audited Standalone Financial Statements of the Company for the
Financial Year ended 31st March, 2018, together with the Reports of
b) the Audited Consolidated Financial Statements of the Company for
the Financial Year ended 31st March, 2018, together with the Reports of
Auditors thereon."
31-Jul-18 CENTURY TEXTILES & INDUSTRIES AGM Management "To declare Dividend on Equity Shares for the year ended 31st March, For For The total dividend for FY18 is Rs. 6.5 per equity share (Rs. 5.5 in FY17). The
2018 ." total dividend outflow (including dividend tax for FY18) is Rs. 0.9 bn and the
31-Jul-18 CENTURY TEXTILES & INDUSTRIES AGM Management "To appoint a Director in place of Shri B K Birla (DIN 00055856) who For For BK Birla, 97, represents promoter family on the board. He attended 14% of
retires by rotation, but being eligible, offers himself for re-election" board meetings in FY18 and 59% over the three-year period. We have a three-
year threshold of 75% attendance of the board meetings in the three-years prior
to re-appointment, but since BK Birla is the promoter of the company we support
his reappointment
31-Jul-18 CENTURY TEXTILES & INDUSTRIES AGM Management Appointment of S R B C & Co LLP, as the statutory auditors of the Com- For For The ratification of SRBC & Co. LLP’s appointment is in line with our Voting
pany & to fix their remuneration Guidelines on Auditor (Re)appointments and with the requirements of Section
139 of the Companies Act 2013. The remuneration of Rs. 13.0 mn is reasonable
and in line with the size of the company.
31-Jul-18 CENTURY TEXTILES & INDUSTRIES AGM Management Modification of Resolution no. 4 passed at the 119th Annual General For For Century Textiles proposes to continue the appointment of SRBC & Co. LLP as
Meeting statutory auditors, without shareholder ratification, till the end of their term in
FY21. This is in line with the Companies Amendment Act, 2017 dated 7 May
2018 which has done away with the requirement of annual ratification for the
statutory auditor.
790
31-Jul-18 CENTURY TEXTILES & INDUSTRIES AGM Management To approve the offer or invitation to subscribe to Non-Convertible Deben- For For The issuance of NCDs will be on private placement basis will be within the over-
tures on Private placement basis all borrowing limit. The amount to be raised through the issuance of NCDs has
not been disclosed.
31-Jul-18 CENTURY TEXTILES & INDUSTRIES AGM Management To approve the remuneration of the Cost Auditors for the financial year For For The total remuneration proposed is reasonable compared to the size and scale
ending 31st March 2018 of the company’s operations.
31-Jul-18 CENTURY TEXTILES & INDUSTRIES AGM Management To approve the re-appointment and remuneration of Shri D K Agrawal as For For DK Agarwal, 78 years did his bachelor’s in commerce and a law graduate. He
a Whole-Time Director of the Company has been associated with the company for the past 54 years. He was appointed
as an Executive Director in the FY16 AGM for a term of two years. The board
proposes to extend his term by another two years, w.e.f. 1 April 2018. His pro-
posed remuneration of Rs. 44.1 mn for FY19 is commensurate with the overall
performance of the company and is in line with the peers.
06-Aug-18 P.I.Industries Ltd. AGM Management "To receive, consider and adopt the Audited Financial Statements (both For For There is no adverse observation/comment in Audiotrs report/ Financials and
standalone and consolidated financial statements) of the Company for notes to a/cs, hence it can be adopted. The director's report is satisfactory and
the financial year ended March 31, 2018 and the Reports of Directors can be adopted
and Auditors thereon."
06-Aug-18 P.I.Industries Ltd. AGM Management "To confirm the payment of Interim dividend and to declare final dividend For For Company has generated enough Profits to pay dividend to the shareholders and
on equity shares for the financial year ended March 31, 2018." in the line with market practise.
06-Aug-18 P.I.Industries Ltd. AGM Management "To appoint a Director in place of Mr. Arvind Singhal, (DIN :00092425), For For He is eligible for re-election and has relevant experience in the field.
who retires by rotation, and being eligible, offers himself for re-appoint-
ment."
06-Aug-18 P.I.Industries Ltd. AGM Management Ratification of Cost-Auditors Remuneration. For For It is required under Companies Act.
03-Aug-18 Tata Motors Ltd DVR AGM Management To receive, consider and adopt the Audited Standalone Financial State- For For There is no adverse observation/comment in Audiotrs report/ Financials and
ment of the Company for the financial year ended March 31, 2018 togeth- notes to a/cs, hence it can be adopted. The director's report is satisfactory and
er with the Reports of the Board of Directors and the Auditors thereon. can be adopted
03-Aug-18 Tata Motors Ltd DVR AGM Management To receive, consider and adopt the Audited Consolidated Financial State- For For There is no adverse observation/comment in Audiotrs report/ Financials and
er with the Report of the Auditors thereon. can be adopted
03-Aug-18 Tata Motors Ltd DVR AGM Management To appoint a Director in place of Mr Guenter Butschek (DIN: 07427375) For For "Guenter Butschek (DIN: 07427375) is the MD of Tata Motors. His reappoint-
who, retires by rotation and being eligible, offers himself for re-appointment is in line with the statutory requirements"
ment
03-Aug-18 Tata Motors Ltd DVR AGM Management Appointment of Ms Hanne Birgitte Sorensen (DIN: 08035439) as a Direc- For For "Ms Hanne Birgitte Sorensen (DIN: 08035439) is the former CEO of Maersk
tor and as an Independent Director Tankers. Her appointment is in line with the statutory requirements."
03-Aug-18 Tata Motors Ltd DVR AGM Management Ratification of Cost Auditor’s Remuneration For For "The remuneration to be paid to the cost auditor is reasonable compared to the size and
scale of the company’s operations."
03-Aug-18 Tata Motors Ltd DVR AGM Management "Private placement of Non-Convertible Debentures/Bonds, n one or For For The issuance will be within the approved borrowing limit of Rs.300 bn.
more series/ tranches during a period of one year from the date of pass-
ing this Resolution, upto an amount not exceeding Rs. 2,500 crores"
03-Aug-18 Tata Motors Ltd DVR AGM Management Tata Motors Limited Employees Stock Option Scheme 2018 and grant of For For "The company plans to issue 13.8 mn options, which aggregate 0.406% of the
stock options to the Eligible Employees under the Scheme paid-up share capital. The exercise price will be linked to preceding 90-day
average market price. Vesting will be subject to the company achieving pre-de-
fined performance targets. This aligns employee incentives to shareholder
returns."
03-Aug-18 Tata Motors Ltd. AGM Management To receive, consider and adopt the Audited Standalone Financial State- For For There is no adverse observation/comment in Audiotrs report/ Financials and
er with the Reports of the Board of Directors and the Auditors thereon. can be adopted
03-Aug-18 Tata Motors Ltd. AGM Management To receive, consider and adopt the Audited Consolidated Financial State- For For There is no adverse observation/comment in Audiotrs report/ Financials and
791
er with the Report of the Auditors thereon. can be adopted
03-Aug-18 Tata Motors Ltd. AGM Management To appoint a Director in place of Mr Guenter Butschek (DIN: 07427375) For For "Guenter Butschek (DIN: 07427375) is the MD of Tata Motors. His reappoint-
who, retires by rotation and being eligible, offers himself for re-appointment is in line with the statutory requirements"
ment
03-Aug-18 Tata Motors Ltd. AGM Management Appointment of Ms Hanne Birgitte Sorensen (DIN: 08035439) as a Direc- For For "Ms Hanne Birgitte Sorensen (DIN: 08035439) is the former CEO of Maersk
tor and as an Independent Director Tankers. Her appointment is in line with the statutory requirements."
03-Aug-18 Tata Motors Ltd. AGM Management Ratification of Cost Auditor’s Remuneration For For "The remuneration to be paid to the cost auditor is reasonable compared to the size and
scale of the company’s operations."
03-Aug-18 Tata Motors Ltd. AGM Management "Private placement of Non-Convertible Debentures/Bonds, n one or For For The issuance will be within the approved borrowing limit of Rs.300 bn.
more series/ tranches during a period of one year from the date of pass-
ing this Resolution, upto an amount not exceeding Rs. 2,500 crores"
03-Aug-18 Tata Motors Ltd. AGM Management Tata Motors Limited Employees Stock Option Scheme 2018 and grant of For For "The company plans to issue 13.8 mn options, which aggregate 0.406% of the
stock options to the Eligible Employees under the Scheme paid-up share capital. The exercise price will be linked to preceding 90-day
average market price. Vesting will be subject to the company achieving pre-de-
fined performance targets. This aligns employee incentives to shareholder
returns."
04-Aug-18 Wockhardt Ltd. AGM Management "Consider and Adopt For For There is no adverse observation/comment in Audiotrs report/ Financials and
a) Audited Financial Statement of the Company for the financial year notes to a/cs, hence it can be adopted. The director's report is satisfactory and
ended 31st March, 2018together with the Reports of the Board of can be adopted
Directors and Auditors thereon
b) Audited Consolidated Financial Statement of the Company for the
financial year ended 31st March, 2018 and the Report of Auditors
thereon"
04-Aug-18 Wockhardt Ltd. AGM Management To declare dividend on Preference Shares at the rate of 0.01%, absorbing For For The company proposes to pay dividend on preference shares at the rate of
a sum of Rs. 2,98,557 0.01% for FY18 aggregating to Rs. 0.4 mn (including dividend tax).
04-Aug-18 Wockhardt Ltd. AGM Management To appoint a Director in place of Dr. Huzaifa Khorakiwala (DIN: For For Dr. Huzaifa Khorakiwala, 47, is promoter director. His reappointment is in line
02191870), who retires by rotation and being eligible, offers himself for with all statutory requirements.
re-appointment
04-Aug-18 Wockhardt Ltd. AGM Management Ratification of appointment of Haribhakti & Co. LLP, Chartered Accoun- For For The ratification of their reappointment is in line with our Voting Guidelines on
tants as the Statutory Auditors Auditor (Re)Appointments and with the requirements of Section 139 of the Com-
panies Act 2013.
04-Aug-18 Wockhardt Ltd. AGM Management Appointment of Ms. Zahabiya Khorakiwala as Director (Non-Executive) For For Zahabiya Khorakiwala, 35, is part of the promoter family and daughter of H.F.
of the Company Khorakiwala, Chairperson. She is Managing Director, Wockhardt Hospitals. Her
appointment is in line with all statutory requirements.
04-Aug-18 Wockhardt Ltd. AGM Management Re-appointment of Dr. Huzaifa Khorakiwala as an Executive Director and For For "Dr. Huzaifa Khorakiwala is promoter director. His reappointment is in line with
Fixation of Remuneration all statutory requirements. He was paid Rs.24.0 mn in FY18 and his proposed
remuneration terms are same as last year’s. His remuneration is commensurate
with his experience and with the size and scale of the company’s operations.
The company must consider including a variable component in the proposed
remuneration structure, to link pay with performance."
04-Aug-18 Wockhardt Ltd. AGM Management Re-appointment of Dr. Murtaza Khorakiwala as Managing Director and For For "Dr. Murtaza Khorakiwala is Managing Director and part of the promot-
Fixation of Remuneration er family. His reappointment is in line with all statutory requirements.
He was paid Rs.24.0 mn in FY18 and his proposed remuneration terms
are same as last year’s. His remuneration is commensurate with his ex-
perience and with the size and scale of the company’s operations.
The company must consider including a variable component in the proposed
remuneration structure, to link pay with performance."
04-Aug-18 Wockhardt Ltd. AGM Management Re-appointment of Mr. Aman Mehta as an Independent Director of the For For We have received a satisfactory response from the company on his re-appoint-
792
Company ment. He is eligible for re-election and has relevant experience in the field.
04-Aug-18 Wockhardt Ltd. AGM Management Re-appointment of Mr. Davinder Singh Brar as an Independent Director For For Davinder Singh Brar, 65, has been on the company’s board for the past five
of the Company years. His reappointment is in line with all statutory requirements.
04-Aug-18 Wockhardt Ltd. AGM Management Re-appointment of Dr. Sanjaya Baru as an Independent Director of the For For Dr. Sanjaya Baru, 63, has been on the company’s board for the past five years.
Company His reappointment is in line with statutory requirements.
04-Aug-18 Wockhardt Ltd. AGM Management Ratification of remuneration payable to Cost Auditors for the Financial For For The proposed remuneration to be paid to the cost auditor in FY19 is reasonable
Year 2018-19 compared to the size and scale of operations.
04-Aug-18 Wockhardt Ltd. AGM Management Approval for issuance of Non-Convertible Debentures (‘NCDs’) upto Rs. For For The proposed NCD issuance and existing borrowings will not exceed the bor-
1,200 crore on private placement basis rowing limits of the company.
04-Aug-18 Tata Consultancy Services Ltd. PBL Management Approval for Buyback of Equity Shares For For The buyback will return surplus funds to its shareholders. It will improve the
balance-sheet and profitability ratios.
03-Aug-18 Berger Paints India Ltd. AGM Management To adopt the audited Financial Statements relating to the year ended 31st For For Accounts have been audited following all prescribed rules and regulations
March 2018 Auditor's Report and Director's Report thereon
03-Aug-18 Berger Paints India Ltd. AGM Management To declare Dividend For For Dividend payout is beneficial to shareholders
03-Aug-18 Berger Paints India Ltd. AGM Management To re-appoint Mr. Kulip Singh Dhingra (DIN: 00048406) as Director For For His appointment is line with statutory requirements
03-Aug-18 Berger Paints India Ltd. AGM Management To re-appoint Mr. Gurbhachan Singh Dhingra (DIN: 00048465) as Director For For His appointment is line with statutory requirements
03-Aug-18 Berger Paints India Ltd. AGM Management To re-appoint Mr.Kamal Ranjan Das (DIN: 00048491) as Independent For For His association with the company is helpful in terms of growth and strategy given
Director of the company for the perod from 01st April 2019 to 31st March his experience in the sector
2020
03-Aug-18 Berger Paints India Ltd. AGM Management To re-appoint Mr.Pulak Chandan Prasad (DIN: 00003557) as Indepen- For For His experience across sector will help the company strategy formulation
dent Director of the company for the perod from 01st April 2019 to 31st
March 2024
03-Aug-18 Berger Paints India Ltd. AGM Management To ratify the remuneration payable to the Cost Audtors for the financial For For This is line with statutory requirements
year 2018-2019
02-Aug-18 Torrent Pharmaceuticals Ltd. AGM Management To receive, consider and adopt the Standalone and Consolidated Finan- For For Accounts have been audited following all the prescribed rules and regulations
cial Statements as at 31st March, 2018 including the Audited Balance
Sheet as at 31st March, 2018, the Statement of Profit and Loss for the
year ended on that date and reports of the Directors’ and Auditors’ there-
on.
02-Aug-18 Torrent Pharmaceuticals Ltd. AGM Management To confirm the payment of interim dividend on equity shares for the fi- For For The total dividend for FY18 is Rs. 14.0 per share and the total dividend outflow
nancial year ended 31st March, 2018 and to declare the final dividend on (including dividend tax for FY18) is Rs.2.9 bn, while the dividend payout ratio
equity shares for the said financial year. is 59.2%.
02-Aug-18 Torrent Pharmaceuticals Ltd. AGM Management "To resolve not to fill the vacancy in the Board, caused by the retirement of For For Markand Bhatt (DIN: 00061955) is Former Chief Executive Officer of the Torrent
Shri Markand Bhatt (holding DIN 00061955) who retires by rotation and group. He will retire at the upcoming AGM and the vacancy caused by his re-
has expressed his unwillingness to be re-appointed." tirement will not be filled.
02-Aug-18 Torrent Pharmaceuticals Ltd. AGM Management Modification to the resolution related to the appointment of Statutory Au- For For Torrent Pharma proposes to continue the appointment of B S R & Co. LLP as
ditors. statutory auditors, without shareholder ratification, till the end of their term in
FY22. This is in line with the Companies Amendment Act, 2017 dated 7 May
2018 which has done away with the requirement of annual ratification for the
statutory auditor.
02-Aug-18 Torrent Pharmaceuticals Ltd. AGM Management Ratification of remuneration of Cost Auditors of the Company for the year For For The proposed remuneration to be paid to the cost auditor in FY19 is reasonable
2018-19. compared to the size and scale of operations.
02-Aug-18 Torrent Pharmaceuticals Ltd. AGM Management Appointment of Ms. Ameera Shah as an Independent Director. For For (Ms.) Ameera Shah, 38, is Managing Director of Metropolis Healthcare Limited.
Her appointment is in line with all statutory requirements.
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02-Aug-18 Torrent Pharmaceuticals Ltd. AGM Management Re- appointment of Shri Shailesh Haribhakti as an Independent Director. For For Appointment is in line with statutory requirements.
02-Aug-18 Torrent Pharmaceuticals Ltd. AGM Management Re-appointment of Shri Haigreve Khaitan as an Independent Director. For For Appointment is in line with statutory requirements. We have received a satisfac-
tory response from the company on the resolution. He is eligible for re-election
and has relevant experience in the field.
02-Aug-18 Torrent Pharmaceuticals Ltd. AGM Management Appointment of Shri Aman Mehta, a Relative of Directors as an Executive For For "Aman Mehta, 26, is the son of Samir Mehta, Managing Director. The
of the Company. company proposes to pay him a remuneration ranging from Rs.3.9
mn to Rs. 15.7 mn per annum, which is on the higher side. Howev-
er, we believe that promoter continuation and succession are import-
ant aspect and cultivating next leadership is critical to company's future.
We have received a satisfactory response from the company on the resolution.
The company has clarified that Aman Mehta will be paid a remuneration of about
Rs.4.50 mn in FY19. The intention of the resolution is to cover a longer period
of more than 5 years. The range of remuneration stated therefore will cover a
period more than 5 years time. "
02-Aug-18 Marico Ltd. AGM Management To receive, consider and adopt the audited financial statements including For For Accounts have been audited following all prescribed rules and regulations
audited consolidated financial statements of the Company for the finan-
cial year ended March 31, 2018, together with the reports of the Board of
02-Aug-18 Marico Ltd. AGM Management To appoint a Director in place of Mr. Rajen Mariwala (DIN: 00007246), For For Rajen Mariwala belongs to the promoter family. He has over 18 years of expe-
who retires by rotation and being eligible, offers himself for re-appoint- rience in specialty chemicals business. He retires by rotation and his reappoint-
ment ment is in line with all statutory requirements.
02-Aug-18 Marico Ltd. AGM Management To consider the ratification of appointment of M/s. B S R & Co. LLP, Char- For For BSR & Co. LLP were appointed as the statutory auditors at 2017 AGM. The
tered Accountants (Firm Registration No. 101248W/ W-100022) as the ratification is in line with all statutory requirements.
Statutory Auditors of the Company
02-Aug-18 Marico Ltd. AGM Management To approve the remuneration payable to M/s. Ashwin Solanki & Associ- For For The total remuneration proposed to be paid to the cost auditors is reasonable
ates, Cost Accountants (Firm Registration No. 100392), the Cost Auditors compared to the size and scale of the company’s operations.
of the Company for the financial year ending March 31, 2019.
02-Aug-18 Mahindra Holidays & Resorts India Ltd AGM Management To receive, consider and adopt the audited Financial Statements (Stand- For For Accounts have been audited following all the prescribed rules and regulations
alone and Consolidated) of the Company for the Financial Year ended
March 31, 2018 and the Reports of the Board of Directors and Auditors
thereon.
02-Aug-18 Mahindra Holidays & Resorts India Ltd AGM Management To declare a Dividend on Equity Shares for the Financial Year ended For For The company has proposed a final dividend of Rs.4.0 per equity share of face
March 31, 2018. value Rs.10.0 for the year ended 31 March 2018. The total dividend outflow
including dividend tax for FY18 is Rs.0.6 bn. The dividend payout ratio is 47.6%.
02-Aug-18 Mahindra Holidays & Resorts India Ltd AGM Management Approve not to fill the vacancy created on the Board of Directors of the For For Vineet Nayyar (DIN: 00018243) is Non-Executive Vice Chairperson, Tech Ma-
Company in place of Mr. Vineet Nayyar (DIN: 00018243), who retires by hindra. He will retire at the upcoming AGM and the vacancy caused by his re-
rotation and does not seek re-appointment. tirement will not be filled.
02-Aug-18 Mahindra Holidays & Resorts India Ltd AGM Management Ratification of appointment of M/s. B S R & Co. LLP, Chartered Accoun- For For "The company proposes to continue the appointment of B S R & Co. LLP as
tants, (ICAI Registration Number 101248W/W-100022), as the Auditors of statutory auditors without shareholder ratification till the end of their term at the
the Company and to fix their remuneration. conclusion of the AGM to be held in 2022. B S R & Co. LLP were appointed
for a period of five years in the FY17 AGM. This is in line with the Companies
Amendment Act, 2017 dated 7 May 2018 which has done away with the
requirement of annual ratification for the statutory auditor."
06-Aug-18 Britannia Industries Ltd. AGM Management a. Approval of Audited Standalone Financial Statements for the year end- For For Accounts have been audited following all prescribed rules and regulations
ed 31 March, 2018 and the Reports of the Directors and Auditors there-
on.b. Approval of Audited Consolidated Financial Statements for the year
ended 31 March, 2018 and the Reports of the Auditors thereon
06-Aug-18 Britannia Industries Ltd. AGM Management To declare dividend for the financial year ended 31 March, 2018. For For Dividend payout is beneficial to shareholders
06-Aug-18 Britannia Industries Ltd. AGM Management To appoint a Director in place of Mr. Jehangir N. Wadia (DIN: 00088831), For For His appointment is line with statutory requirements.
who retires by rotation in terms of Section 152(6) of the Companies Act,
794
2013 and being eligible, offers himself for re-appointment.
06-Aug-18 Britannia Industries Ltd. AGM Management To approve the appointment of Mr.Keki Elavia (DIN:00003940) as an In- For For His appointment is line with statutory requirements.
dependent Director of the Company.
06-Aug-18 Britannia Industries Ltd. AGM Management To re-appoint Mr. Varun Berry (DIN 05208062) as Managing Director of For For His appointment is line with statutory requirements.
the Company
06-Aug-18 Britannia Industries Ltd. AGM Management To continue the Directorship of Mr. Nusli N Wadia (DIN- 00015731) as For For His appointment is line with statutory requirements.
Non- Executive Director of the Company.
06-Aug-18 Britannia Industries Ltd. AGM Management To continue the Directorship of Mr. A K Hirjee (DIN- 00044765) as Non- For For His appointment is line with statutory requirements. His association with the
Executive Director of the Company. company is helpful in strategy formulation
06-Aug-18 Britannia Industries Ltd. AGM Management To approve the amendment of Britannia Industries Limited Employee For For This is line with statutory requirements
Stock Option Scheme.
06-Aug-18 Adani Ports And Special Econom AGM Management Adoption of audited financial statements (including consolidated financial For For Accounts have been audited following all prescribed rules and regulations
statements) for the financial year ended March 31, 2018
06-Aug-18 Adani Ports And Special Econom AGM Management Declaration of Dividend on Equity Shares For For The total dividend for FY18 is Rs. 2.0 per equity share (Rs. 1.3 paid in FY17).
The total dividend (including dividend tax) amounts to Rs. 5.0 bn and the divi-
dend payout ratio is 20.7%.
06-Aug-18 Adani Ports And Special Econom AGM Management Declaration of Dividend on Preferences Shares For For The company proposes to pay a dividend of Rs. 0.001 per share on 0.01%
non-cumulative redeemable preference shares, which aggregates Rs. 2,811.0.
06-Aug-18 Adani Ports And Special Econom AGM Management Re-appointment of Dr. Malay Mahadevia (DIN: 00064110), as a Director For For Malay Mahadevia, 55, is an Executive Director and has been on the board for
of the Company who retires by rotation the past nine years. His reappointment meets all statutory requirements.
06-Aug-18 Adani Ports And Special Econom AGM Management Ratification of appointment of M/s. Deloitte Haskins & Sells LLP, Statutory For For The ratification of Deloitte & Sells LLP’s appointment is in line with our Voting
Auditors and fixing their remuneration Guidelines on Auditor (Re)appointments and with the requirements of Section
139 of the Companies Act 2013.
06-Aug-18 Adani Ports And Special Econom AGM Management Approval of offer or invitation to subscribe to Securities for an amount not For For The maximum potential dilution is estimated to be 6.1%. The company has taken
exceeding 5,000 crores similar approvals in the past but has not issued securities during the validity
period of the approval. However, we expect the company to clearly state the
reasons for raising funds.
06-Aug-18 Adani Ports And Special Econom AGM Management Approval of offer or invitation to subscribe to Non-Convertible Debentures For For The issuance will be within the overall borrowing limit of the company (currently
on private placement basis at Rs. 250.0 bn). However, the company has not disclosed the quantum of NCDs
that it plans to issue.
06-Aug-18 Adani Power Ltd. AGM Management "Adoption of audited financial statements (including con- For For Accounts have been audited following all prescribed rules and regulations
solidated financial statements) for the financial year ended
31st March, 2018"
06-Aug-18 Adani Power Ltd. AGM Management Re-appointment of Mr. Rajesh S. Adani (DIN: 00006322), as a Director of For For Rajesh Adani, 54, is part of the promoter family and Managing Director, Adani
the Company who retires by rotation Power Limited. He retires by rotation and his reappointment is in line with stat-
utory requirements.
06-Aug-18 Adani Power Ltd. AGM Management "Appointment of M/s. S R B C & CO LLP, Statutory Auditors and to fix For For Their ratification is in line with our Voting Guidelines on Auditor (Re)appoint-
their remuneration for the financial year ended 31st March, 2019" ments.
06-Aug-18 Adani Power Ltd. AGM Management Re-appointment of Mr. Rajesh S. Adani as Managing Director of the For For Rajesh Adani will not be paid any remuneration from Adani Power Limited.
Company The company must clarify if he is eligible to receive remuneration from other
group companies or subsidiaries. Notwithstanding, as a promoter, his personal
wealth is closely linked to company performance. Rajesh Adani also serves in
an executive capacity on the boards of Adani Enterprises Limited and Adani
Transmission Limited. As promoter and executive director, he has responsibil-
ities towards all group companies. He should consider stepping down from his
executive responsibilities from the group companies and provide guidance in a
795
non-executive capacity.
06-Aug-18 Adani Power Ltd. AGM Management Re-appointment of Mr. Vneet S Jaain as Whole-time Director of the Com- For Abstain Vneet Jaain, 47, is Whole-time Director, Adani Power Limited. The company
pany proposes to reappoint him as Whole-time Director for three years with effect
from 14 May 2018. He will not be paid any remuneration from Adani Power
Limited. He has not drawn any remuneration from subsidiaries in FY18. Given
that he is a professional, we expect that he is being remunerated. Even so, the
company has not clarified if he is eligible to receive remuneration from other
group companies (he is listed as CEO of Adani Infra (India) Limited). If Vneet
Jaain is being remuneration from other group companies, such a structure could
have the potential for a conflict of interest.
06-Aug-18 Adani Power Ltd. AGM Management Appointment of Mr. Mukesh Shah as Independent Director For For Mukesh Shah, 65, is Founder and Managing Partner, Mukesh M. Shah & Co, an
audit firm. He has over 30 years of experience. His appointment as Independent
Director is in line with statutory requirements.
06-Aug-18 Adani Power Ltd. AGM Management Change (addition) in Object Clause of the Company For For Adani Power Limited proposes to expand its objects clause to include all forms
of energy sources, including conventional and non-conventional. While this will
expand the company’s business scope, it will bring with it its added risks.
06-Aug-18 Adani Power Ltd. AGM Management Approval of offer or invitation to subscribe to Non-Convertible Debentures For For The NCDs which are proposed to be issued will be within the overall borrowing
on private placement basis limits of Rs. 450 bn over and above the paid up capital and free reserves of the
company. The company has not specified the quantum of NCDs it proposes
to issue.
06-Aug-18 Adani Power Ltd. AGM Management Approval of offer or invitation to subscribe to Securities for an amount not For For At the current market price (Rs.19.5 on 19 July 2018), the company will issue
exceeding H5,000 Crores ~2.6 bn shares to raise Rs.50 bn. The maximum dilution is ~39.9% on the ex-
panded capital base, considering the shareholding on 31 March 2018. While the
dilution is high, we also expect promoters to be diluted by an equitable amount.
The company is highly leveraged and needs to correct its capital structure and
improve liquidity.
06-Aug-18 Adani Power Ltd. AGM Management Ratification of the Remuneration of the Cost Auditors For For The total remuneration proposed to be paid to the cost auditors in FY19 is rea-
sonable compared to the size and scale of operations.
08-Aug-18 Procter & Gamble Hygiene & Hea PBL Management Approval for appointment of Mr. Madhusudan Gopalan as Director and For For The estimated remuneration of Rs.60 mn is in line with peers and commen-
Managing Director of the Company for a period of five years. surate with the size and scale of operations. Madhusudan Gopalan is being
concomitantly appointed as MD of Gillette India; the final remuneration will be
shared by the two companies in proportion of their Net Outside Sales (NOS). We
recognize the operational and administrative intent of appointing one person to
handle P&G’s operations in India
08-Aug-18 Igarashi Motors India Ltd. AGM Management Adoption of audited Financial Statements for the financial year ended For For There is no adverse observation/comment in Audiotrs report/ Financials and
31st March 2018, and the Reports of the Board of Directors and Auditors’ notes to a/cs, hence it can be adopted. The director's report is satisfactory and
Report thereon can be adopted
08-Aug-18 Igarashi Motors India Ltd. AGM Management Approval for declaration of dividend of Rs. 6/- per equity share. For For Company has generated enough Profits to pay dividend to the shareholders and
in the line with market practice.
08-Aug-18 Igarashi Motors India Ltd. AGM Management Appointment of Mr. Keiichi Igarashi (DIN: 00356779) retires by rotation For For He is eligible for re-election and has relevant experience in the field.
and being eligible, seeks re-appointment
08-Aug-18 Igarashi Motors India Ltd. AGM Management Appointment of Mr. K K Nohria (DIN: 00060015) as Non Executive, Non For For He is eligible for re-election and has relevant experience in the field.
Independent Director,liable to retire by rotation
08-Aug-18 Lupin Ltd. AGM Management "Adoption of the Standalone audited financial statements including Balance For For Accounts have been audited following all prescribed rules and regulations
Sheet as at March 31, 2018, Statement of Profit and Loss and Cash Flow
Statement for the year ended on that date and the reports of the Board of
Directors and Auditors thereon."
08-Aug-18 Lupin Ltd. AGM Management "Adoption of the Consolidated audited financial statements including Bal- For For Accounts have been audited following all prescribed rules and regulations
796
ance Sheet as at March 31, 2018, Statement of Profit and Loss and Cash Flow
Statement for the year ended on that date and the report of the Auditors
thereon."
08-Aug-18 Lupin Ltd. AGM Management Declaration of dividend at Rs. 5.00 per equity share for the year ended For For The total dividend outflow including dividend tax is Rs.2.7 bn. The dividend pay-
March 31, 2018. out ratio is 20.2% v/s 13% in FY17.
08-Aug-18 Lupin Ltd. AGM Management Re-appointment of Mr. Ramesh Swaminathan, as a Director, who retires For For Ramesh Swaminathan is the Chief Financial Officer of the company. His reap-
by rotation and being eligible, offers himself, for re-appointment. pointment is in line with statutory requirements.
08-Aug-18 Lupin Ltd. AGM Management Re-appointment of Mr. Nilesh Deshbandhu Gupta, Managing Director, for For For Nilesh Deshbandhu Gupta is a chemical engineer and a graduate from the
a period of five years w.e.f. September 1, 2018. Wharton School. He was appointed as the Managing Director of the company for
five years beginning 31 August 2013. The company proposes to reappoint him
for another five-year term. His proposed remuneration aggregating to Rs.95.7
mn remuneration is commensurate with the size and complexity of business
and in line with peers.
08-Aug-18 Lupin Ltd. AGM Management Ratifying the remuneration payable to Mr. S. D. Shenoy, Cost Auditor, for For For The proposed remuneration to be paid to the cost auditor in FY18 is reasonable
conducting cost audit for the year March 31, 2019. compared to the size and scale of operations.
08-Aug-18 Lupin Ltd. AGM Management "Keeping the Register of Members and other registers/records maintained For For "The company has appointed Link Intime India Pvt. Ltd. (Link Intime) as its
under Section 88 and copies of the Annual returns filed under Section 92 Registrar and Share Transfer Agent with effect from. Link Intime will maintain
of the Act, at a place other than the Registered Office of the Company." the company’s registers, returns, etc at: C 101, 247 Park, LBS Marg, Vikhroli
(West), Mumbai – 400083. The records will be maintained in Mumbai; the
company has its registered office in Mumbai as well."
08-Aug-18 Bharti Airtel Ltd. AGM Management To receive, consider and adopt the standalone and consolidated financial For For Accounts have been audited following all prescribed rules and regulations
statements of the Company for the financial year ended March 31, 2018
and the report of the Board of Directors and of the Auditors thereon
08-Aug-18 Bharti Airtel Ltd. AGM Management Declaration of dividend on equity shares For For Bharti Airtel has proposed a final dividend of Rs.2.5 per equity share of face
value Rs.5.0 for the year ended 31 March 2018. It has already paid an interim
dividend of Rs. 2.84 per equity share in FY18. Therefore, the total dividend per
share in FY18 was Rs. 5.34 per share. The total dividend outflow including divi-
dend tax for FY18 is Rs. 25.7 bn.
08-Aug-18 Bharti Airtel Ltd. AGM Management Re-appointment of Mr. Rakesh Bharti Mittal as a Director liable to retire For For Rakesh Mittal is part of the promoter family and Chairperson, Bharti AXA Life
by rotation Insurance Company Limited. He retires by rotation and his reappointment is in
line with statutory requirements.
08-Aug-18 Bharti Airtel Ltd. AGM Management Re-appointment of Ms. Tan Yong Choo as a Director liable to retire by For For Ms. Tan Yong Choo is VP (Group Finance), Singtel Group. She retires by rotation
rotation and her reappointment is in line with statutory requirements.
08-Aug-18 Bharti Airtel Ltd. AGM Management Ratification of appointment of Deloitte Haskins & Sells LLP, Chartered For For Their ratification is in line with our Voting Guidelines on Auditor (Re)appoint-
Accountants, as the Statutory Auditors of the Company and to fix its re- ments and with the requirements of Section 139 of the Companies Act 2013.
muneration
08-Aug-18 Bharti Airtel Ltd. AGM Management Re-appointment of Mr. Craig Edward Ehrlich as an Independent Director For For "Craig Ehrlich, 63, is the Chairperson of Carmel Venture Asia, a ven-
ture capital company. He has been on the board for nine years.
The company confirms that including his attendance via audio pres-
ence, his attendance over the past three years is 85% (17 out of 20
meetings). His reappointment is in line with statutory requirements.
We will consider him as Non-Independent once his overall tenure on the board
exceeds ten years."
08-Aug-18 Bharti Airtel Ltd. AGM Management Alteration of the Articles of Association of the Company For For In the proposed alteration to the AoA, the company has empowered the board
to decide if executive directors will be liable to retire by rotation: the proposed
change is an improvement over the existing articles which did not require the
797
office of the Managing Director and Whole-time Directors to be liable to retire by
rotation. We believe that companies must seek periodic shareholder approval for
continuity and reappointment of all directors.
08-Aug-18 Bharti Airtel Ltd. AGM Management Change in nature of directorship of Mr. Gopal Vittal, Managing Director & For For Gopal Vittal, MD and CEO (India and South Asia) was not liable to retire by
CEO (India and South Asia) of the Company rotation for the duration of his tenure. The company proposes to make his office
liable to retire by rotation. This practice allows shareholders to periodically ap-
prove his continuation on the board.
08-Aug-18 Bharti Airtel Ltd. AGM Management Revision in payment of Commission to Non-Executive Directors of the For For The proposed payments to non-executive directors are reasonable. As its profits
Company grow, the company must consider setting a cap in absolute terms on the com-
mission payable.
08-Aug-18 Bharti Airtel Ltd. AGM Management Ratification of remuneration to be paid to R. J. Goel & Co., Cost Accoun- For For The total remuneration proposed to be paid to the cost auditors in FY19 is rea-
tants, Cost Auditors of the V sonable compared to the size and scale of operations.
08-Aug-18 Blue Star Ltd. AGM Management "To receive, consider and adopt: For For Accounts have been audited following all the prescribed rules and regulations .
a) the Audited Financial Statement of the Company for the financial
Directors and Auditors thereon; and
b) the Audited Consolidated Financial Statement of the Company for the
financial year ended March 31, 2018, together with the reports of the
Auditors thereon."
08-Aug-18 Blue Star Ltd. AGM Management To declare dividend on the equity shares of the Company for the year For For The company proposes final dividend of Rs.8.50 per equity share in addition
ended March 31, 2018 to special dividend of Rs.1.50 per equity share paid during the year. The total
outflow on account of dividend is Rs.1,155.4 mn v/s Rs.862.5 mn in the previous
year. The dividend payout is 81.4% v/s 77% in FY17.
08-Aug-18 Blue Star Ltd. AGM Management To appoint a Director in place of Mr Suneel M Advani (DIN: 00001709) For For Suneel Advani is the promoter and Chairperson of the company. His reappoint-
ment is in line with statutory requirements
08-Aug-18 Blue Star Ltd. AGM Management Appointment of M/s Deloitte Haskins & Sells LLP, Chartered Accountants For For Deloitte Haskins & Sells will replace SRBC & Co as statutory auditors. The ap-
as the Statutory Auditors of the Company pointment is in line with all statutory requirements
08-Aug-18 Blue Star Ltd. AGM Management "Ratification of the remuneration of M/s Narasimha Murthy & Co, Hyderabad For For The total remuneration proposed to be paid to the cost auditors is reasonable
Cost Accountants for financial year ended March 31, 2018" compared to the size and scale of operations
08-Aug-18 Blue Star Ltd. AGM Management Appointment of Mr Anil Harish as an Independent Director of the Com- For For Anil Harish is partner at DM Harish & Co (Law firm). His appointment is in line
pany with statutory requirements.
09-Aug-18 Galaxy Surfactants Limited AGM Management Receive, consider and adopt the Audited Financial Statements (including For For Accounts have been audited following all the prescribed rules and regulations
the Consolidated Financial Statements) of the Company for the financial
year ended March 31, 2018 and the Reports of the Board of Directors
and Auditors thereon.
09-Aug-18 Galaxy Surfactants Limited AGM Management Declare Dividend on Equity Shares for the financial year 2017-18. For For The total outgo on account of dividend payout is Rs.299.2 mn. The dividend
payout ratio is 26.6% v/s 21.2% in FY17.
09-Aug-18 Galaxy Surfactants Limited AGM Management Appoint a Director in place of Mr. Sudhir Patil (DIN 00264933), who retires For For Dr. Nirmal Koshti is associated with the company since inception and responsi-
by rotation and being eligible, offers himself for re-appointment. ble towards its research and development division. He has held a board position
for two years. His reappointment is in line with all statutory requirements.
09-Aug-18 Galaxy Surfactants Limited AGM Management Appoint a Director in place of Mr. G. Ramakrishnan (DIN 00264760), who For For G Ramakrishnan is a Chartered Accountant and a promoter representative. His
retires by rotation and being eligible, offers himself for re-appointment. reappointment is in line with all statutory requirements.
09-Aug-18 Galaxy Surfactants Limited AGM Management Ratification of Remuneration of M/s. Nawal Barde Devdhe & Associates, For For The total remuneration proposed to be paid to the cost auditors is reasonable
as Cost Auditors of the Company. compared to the size and scale of operations.
09-Aug-18 Galaxy Surfactants Limited AGM Management Appointment of Mr. Uday K. Kamat (DIN 00226886) as a Non-Executive For For Uday Kamat was the Executive Director of the company between April 2003 and
Non-Independent Director March 2016. He is a Chartered Accountant with over 35 years of experience
798
in finance, commerce, project management and general management. His ap-
pointment is in line with all statutory requirements.
09-Aug-18 Galaxy Surfactants Limited AGM Management Re-appointment of Mr. U. Shekhar (DIN 00265017) as Managing Director For For The proposed remuneration is estimated at Rs.30 mn, which is in line with the
size and complexity of his role and comparable to peers. The company must
consider providing more granular information regarding the proposed commis-
sion to be paid as well as performance metrics that drive such payouts.
09-Aug-18 Galaxy Surfactants Limited AGM Management Re-appointment of Mr. Amit Ramakrishnan as “Technical Sales Executive For For Amit Ramakrishnan,33, is son of G Ramakrishnan – promoter of the company.
and Systems Process Analyst” in TRI-K Industries Inc. USA from Febru- The company’s subsidiary - TRI-K Industries Inc (TRI-K) proposes to appoint
ary 1, 2019 him as its Technical Sales Executive and Systems Process Analyst for a three-
year period with effect from 1 February 2019. His proposed remuneration includ-
ing salary and perquisites will not exceed USD 16,000 per month (equivalent
to Rs.13.1 mn annually). This is commensurate with role and complexity of the
business.
09-Aug-18 Galaxy Surfactants Limited AGM Management Approval for payment of remuneration by wholly owned subsidiary TRI-K For For Any payment received by him from subsidiary of the company attracts the pro-
Industries, USA to Mr. Uday K. Kamat (DIN 00226886), Director of the visions of the Section 188 of the Companies Act, 2013 covering appointment
Company for attending/ participating in its Board Meetings to a place of profit. His total remuneration from subsidiary for attending boards
meetings will not exceed Rs.680,000 per annum.
09-Aug-18 Galaxy Surfactants Limited AGM Management Payment of Commission to Non-Executive directors of the Company For For The commission paid to Non-Executive Directors in the past has been reason-
able, but as the company’s profits grow, it must consider setting a cap in absolute
terms on the commission payable.
09-Aug-18 Galaxy Surfactants Limited AGM Management Appointment of Mr. G. Ramakrishnan (DIN 00264760) as a Strategic Ad- For For G Ramakrishnan is a Chartered Accountant, member of the Institute of Cost and
visor to the Company. Works Accountants of India and a qualified Company Secretary. As a strategic
advisor he will be responsible to periodically travel to North America to develop
the business at its wholly owned subsidiary – TRI-K Industries, Inc. (TRI-K). His
responsibilities will include engagement with customers, vendors, R&D labora-
tories and facilities, potential acquisition targets and hires, and other strategic
participants in the marketplace. His proposed remuneration of Rs.6 mn is in line
with roles and responsibilities and complexity of business
09-Aug-18 Galaxy Surfactants Limited AGM Management Appointment of Mr. Uday K. Kamat (DIN 00226886) as a Strategic Advisor For For Uday K Kamat is a Chartered Accountant and qualified Cost Accountant. He has
to the Company. over 35 years of experience in the field of finance, commerce, project manage-
ment and general management. As a strategic advisor he will be responsible to
periodically travel to North America to develop the business at its wholly owned
subsidiary – TRI-K Industries, Inc. (TRI-K). His responsibilities will include en-
gagement with customers, vendors, R&D laboratories and facilities, potential
acquisition targets and hires, and other strategic participants in the marketplace.
His proposed remuneration of Rs.6 mn is in line with roles and responsibilities
and complexity of business.
09-Aug-18 Sudarshan Chemical Industries AGM Management Approval of Financial Statements of the Company for the Year ended 31st For For There is no adverse observation/comment in Audiotrs report/ Financials and
March, 2018. notes to a/cs, hence it can be adopted. The director's report is satisfactory and
can be adopted
09-Aug-18 Sudarshan Chemical Industries AGM Management Approval for declaration of final dividend for the year ended 31st March, For For Company has generated enough Profits to pay dividend to the shareholders and
2018 and confirmation of the Interim Dividend paid during March, 2018. in the line with market practise.
09-Aug-18 Sudarshan Chemical Industries AGM Management Appointment of Mr. N. J. Rathi, as Director liable to retire by rotation. For For He is eligible for re-election and has relevant experience in the field.
09-Aug-18 Sudarshan Chemical Industries AGM Management Appointment of Mr. Rajesh B. Rathi as Managing Director of the Company For For He is eligible for re-election and has relevant experience in the field.
for a period of 5 years w.e.f. 1st June, 2018.
09-Aug-18 Sudarshan Chemical Industries AGM Management Appointment of Mr. Ashish Vij as Wholetime Director of the Company for For For He is eligible for election and has relevant experience in the field.
a period of 5 years w.e.f. 24th May, 2018.
09-Aug-18 Sudarshan Chemical Industries AGM Management Appointment of Mr. Naresh T. Raisinghani as an Independent Director of For For He is eligible for election and has relevant experience in the field.
the Company for a period of 5 years w.e.f. 9th August, 2018.
09-Aug-18 Sudarshan Chemical Industries AGM Management Approval for payment of remuneration to Parkhi Limaye & Co., Cost Au- For For It is required under Companies Act.
799
ditors for the Financial Year 2018-19 to conduct Audit of Cost Records of
the Company for “Insecticides and Industrial Mixers”.
09-Aug-18 Sudarshan Chemical Industries AGM Management Increase in the borrowing limits of the Company. For For SCIL will need to raise capital to fund the proposed expansions and operational
growth of the company. As on 31 March 2018, the company’s consolidated bor-
rowings aggregated to Rs. 4.3 bn, with a debt/equity of 1.0x and debt to EBIDTA
of 2.0x. The outstanding credit rating for SCIL is IND A+/Stable, which denotes
adequate degree of safety regarding timely servicing of financial obligations.
SCIL has been judicious in allocating capital and raising debt in the past and we
expect them to continue being judicious in the future.
09-Aug-18 Sudarshan Chemical Industries AGM Management Increase in the limit for the mortgage / charge on the assets of the Com- For For Secured loans typically have easier repayment terms, less restrictive covenants,
pany. and marginally lower interest rates.
09-Aug-18 Sudarshan Chemical Industries AGM Management Issue of debt securities upto an aggregate limit of Rs. 250 crores. For For The issuance will be within the overall borrowing limit of the company (proposed
at Rs. 8.0 bn under resolution #8).
09-Aug-18 Sudarshan Chemical Industries AGM Management To accord approval for continuance of Mr. D. N. Damania as an Indepen- For For He is eligible for re-election and has relevant experience in the field.
dent Director till 8th August, 2019 in terms of amended provisions of SEBI
Listing Regulations.
09-Aug-18 Sudarshan Chemical Industries AGM Management To accord approval for continuance of Mr. S. Padmanabhan as an Inde- For For He is eligible for re-election and has relevant experience in the field.
pendent Director till 8th August, 2019 in terms of amended provisions of
SEBI Listing Regulations.
09-Aug-18 Sudarshan Chemical Industries AGM Management Approval of Sudarshan Chemical Industries Limited Employee Stock Op- For For To attract and retain key talent, SCIL proposes to implement ESOP-2018. The
tion Plan 2018 and Grant of Employees Stock Options to employees of size of ESOP-2018 will be upto 2% of share capital. The options will have a max-
the Company and Subsidiary Companies thereunder. imum vesting period of upto eight years and exercise period of upto five years,
from the date of the grant. The options will be granted at the fair market value, as
on date of grant. As the options under the scheme will be issued at market price,
the cost impact on the company will be reasonable, and it will align employee
incentives to shareholder returns.
09-Aug-18 Sudarshan Chemical Industries AGM Management Grant of Employee Stock Options to the Employees of Company and that For For The company may issue options under ESOP-2018 by primary or secondary
of the Subsidiary company(ies) by way of Secondary Acquisition under acquisition. As an enabling resolution, it seeks shareholders’ approval to acquire
Sudarshan Chemical Industries Limited Employee Stock Option Plan upto 1.4 mn shares (2% of the paid-up equity share capital) from the secondary
2018. market. There is no dilution for existing shareholders in case of a secondary
acquisition.
09-Aug-18 Sudarshan Chemical Industries AGM Management Approval of Trust Route for the implementation of Sudarshan Chemical For For The company may issue options under ESOP-2018 by primary or secondary
Industries Limited Employee Stock Option Plan 2018. acquisition. As an enabling resolution, it proposes to establish an Employee
Welfare Trust for the implementation of ESOP-2018.
09-Aug-18 Sudarshan Chemical Industries AGM Management Provision of Money by the Company for purchase of its own shares by the For For The proposed resolution will enable the company to grant loans to the Employee
Trust / Trustees for the benefit of Employees under Sudarshan Chemical Welfare Trust. The funds will be used by the Trust to acquire shares from the
Industries Limited Employee Stock Option Plan 2018 secondary market, for the implementation of ESOP-2018.
09-Aug-18 Page Industries Ltd. AGM Management Adoption of Financial Statements For For Accounts have been audited following all prescribed rules and regulations
09-Aug-18 Page Industries Ltd. AGM Management Appointment of Mr. Sunder Genomal as Director For For His reappointment is in line with all the statutory requirements.
09-Aug-18 Page Industries Ltd. AGM Management Appointment of Mr. Timothy Ralph Wheeler as Director For For His reappointment is in line with all the statutory requirements.
09-Aug-18 Page Industries Ltd. AGM Management Appointment of Mr. Varun Berry as an Independent Director For For His appointment is in line with all the statutory requirements.
09-Aug-18 Page Industries Ltd. AGM Management Remuneration under Section 197(1) of the Companies Act, 2013 For For The proposed remuneration of Rs.9.0 mn is 0.3% of FY18 net profit which is
reasonable
09-Aug-18 Jet Airways (India) Ltd. AGM Management "To receive, consider and adopt the Audited Financial State- For For Accounts have been audited following all prescribed rules and regulations
ments for the financial year ended 31 March 2018, together
with the Reports of the Board of Directors and Auditors thereon.
(b) To receive, consider and adopt the Audited Consolidated Financial
800
Statements for the financial year ended 31 March 2018, together with the
Reports of the Auditors thereon."
09-Aug-18 Jet Airways (India) Ltd. AGM Management Re-appointment of Mrs. Anita Goyal, who retires by rotation For For "Ms. Anita Goyal (DIN: 01992051) is part of the promoter group and a former
employee of the company. Her reappointment is in line with the statutory
requirements."
09-Aug-18 Jet Airways (India) Ltd. AGM Management To fix the remuneration of the Joint Statutory Auditors, M/s. B S R & Co. For For "B S R & Co. LLP were appointed as one of the joint statutory auditors in 2015,
LLP for a period of five years. The aggregate auditor remuneration of Rs.22.4 mn in
FY18 is reasonable given the size and complexity of business. We expect the
board to remain judicious in fixing the auditor remuneration going forward."
09-Aug-18 Jet Airways (India) Ltd. AGM Management To fix the remuneration of the Joint Statutory Auditors, M/s. D T S & As- For For "D T S & Associates were appointed as one of the joint statutory auditors in
sociates 2017, for a period of five years. The aggregate auditor remuneration of Rs.22.4
mn in FY18 is reasonable given the size and complexity of business. We
expect the board to remain judicious in fixing the auditor remuneration going
forward."
09-Aug-18 Jet Airways (India) Ltd. AGM Management Appointment of Mr. Ashok Chawla as an Independent Director For For Ashok Chawla (DIN: 00056133) is the former Chairperson of the Competition
Commission of India. His appointment is in line with the statutory requirements.
09-Aug-18 Jet Airways (India) Ltd. AGM Management Appointment of Mr. Sharad Sharma as an Independent Director For For "Sharad Sharma (DIN: 05160057) is the former MD of State Bank of Mysore.
His appointment is in line with the statutory requirements."
09-Aug-18 Jet Airways (India) Ltd. AGM Management Appointment of Dr. Nasim Zaidi as a Director For For "Nasim Zaidi (DIN: 07979530) is being appointed as a nominee of Naresh
Goyal. He is a former Chief Election Commissioner of India and a former
Secretary in the Ministry of Civil Aviation. His appointment is in line with the
09-Aug-18 Jet Airways (India) Ltd. AGM Management Appointment of Mr. Harsh Mohan as a Director For For "Harsh Mohan (DIN: 06539338) is being appointed as a nominee of Etihad
Airways. He is Chief-Group Support Services Officer for the Etihad Group. His
appointment is in line with the statutory requirements."
09-Aug-18 Jet Airways (India) Ltd. AGM Management Appointment of Mr. Kevin Nolan Knight as a Director For For "Kevin Nolan Knight (DIN: 07928561) is being appointed as a nominee of
Etihad Airways. He is Group Chief Strategy & Planning Officer for the Etihad
Group. His appointment is in line with the statutory requirements."
09-Aug-18 Trent Ltd. AGM Management "To receive, consider and adopt the Audited Financial For For Accounts have been audited following all prescribed rules and regulations
Statements of the Company for the financial year ended
31st March 2018, together with the Reports of the Board of Directors and
the Auditors thereon"
09-Aug-18 Trent Ltd. AGM Management "To receive, consider and adopt the Audited Consolidated Fi- For For Accounts have been audited following all prescribed rules and regulations
nancial Statements of the Company for the financial year ended
31st March 2018, together with the Report of the Auditors thereon"
09-Aug-18 Trent Ltd. AGM Management To declare dividend on the Equity Shares for the financial year ended For For Dividend payout is beneficial to shareholders
31st March 2018
09-Aug-18 Trent Ltd. AGM Management "To appoint a Director in place of Mr. P. Venkatesalu (DIN: 02190892), For For His reappointment is in line with all the statutory requirements.
who retires by rotation and, being eligible, offers himself for
re-appointment"
09-Aug-18 Trent Ltd. AGM Management Re- appointment of Mr. P. Venkatesalu as Executive Director (Finance) For For The proposed remuneration estimated at Rs.33.6 mn is comparable to peers
and Chief Financial Officer of the Company and is commensurate with the size and complexity of the business. His appoint-
ment is line with statutory requirements.
09-Aug-18 Trent Ltd. AGM Management Offer or invitation to subscribe to Non-Convertible Debentures on private For For there are no material implications for minority shareholders.
placement basis
09-Aug-18 Godrej Agrovet Limited AGM Management To consider and adopt the Audited Financial Statements (including Stand- For For There is no adverse observation/comment in Audiotrs report/ Financials and
alone and Consolidated Financial Statements) of the Company for the notes to a/cs, hence it can be adopted. The director's report is satisfactory and
801
Financial Year ended March 31, 2018 and the Reports of the Board of Di- can be adopted
rectors and the Statutory Auditors thereon, including Annexures thereto.
09-Aug-18 Godrej Agrovet Limited AGM Management To declare Final Dividend on Equity Shares @ 45% [i.e., @ Rs. 4.50 For For Company has generated enough Profits to pay dividend to the shareholders and
(Rupees Four Paise Fifty Only) per Equity Share] for the Financial Year in the line with market practice.
2017-18.
09-Aug-18 Godrej Agrovet Limited AGM Management To appoint a Director in place of Mr. N. B. Godrej, Director [having Director For For He is eligible for re-election and has relevant experience in the field.
Identification Number (DIN): 00066195], who retires by rotation and being
eligible, offers himself for re-appointment, as a “Director” of the Company
09-Aug-18 Godrej Agrovet Limited AGM Management To appoint a Director in place of Ms. Tanya A. Dubash, Director [having For For She is eligible for re-election and has relevant experience in the field.
Director Identification Number (DIN): 00026028], who retires by rotation
and being eligible, offers herself for re-appointment, as a “Director” of
the Company.
09-Aug-18 Godrej Agrovet Limited AGM Management To ratify the appointment of M/s. B S R & Co. LLP, Chartered Accoun- For For This is line with statutory requirements
tants (Firm Registration Number: 101248W/W-100022) as the ‘Statutory
Auditors’ of the Company, to hold office from the conclusion of this 27th
(Twenty Seventh) Annual General Meeting (AGM) till the conclusion of the
31st (Thirty First) Annual General Meeting (AGM), i.e., for the Financial
Years from 2018-19 to 2021-22 and to authorise Board of Directors of the
Company to fix their remuneration
09-Aug-18 Godrej Agrovet Limited AGM Management To ratify remuneration to be paid to M/s. P. M. Nanabhoy & Co., Cost For For This is line with statutory requirements
Accountants, Mumbai, to conduct an audit of the cost records of the Com-
pany for the Financial Year ending on March 31, 2019.
09-Aug-18 Godrej Agrovet Limited AGM Management To re-appoint Mr. K. N. Petigara, as a Non- Executive Independent Di- For Against K. N. Petigara has been on the board for 26 years. IiAS believes length of tenure
rector of the Company [having Director Identification Number (DIN): is inversely proportionate to the independence of a director. Due to his long
00066162] for an additional term of 3 (three) years w.e.f April 1, 2019 association (>10 years) with the company, he is considered non-independent. If
upto March 31, 2022. the company believes that it will benefit from him serving on its board, it should
appoint him as non-independent director.
09-Aug-18 Godrej Agrovet Limited AGM Management To re-appoint Mr. A. B. Choudhury, as a Non- Executive Independent For Against Amit B. Choudhury has been on the board for 14 years. IiAS believes length of
Director of the Company [having Director Identification Number (DIN): tenure is inversely proportionate to the independence of a director. Due to his
00557547] for an additional term of 3 (three) years w.e.f April 1, 2019 long association (>10 years) with the company, he is considered non-indepen-
upto March 31, 2022, pursuant to Sections 149, 152 and other applicable dent. If the company believes that it will benefit from him serving on its board, it
provisions of the Companies Act, 2013 and pursuant to Regulation 17(1A) should appoint him as non-independent director.
of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
09-Aug-18 Godrej Agrovet Limited AGM Management To approve the continuation of Mr. A. B. Godrej, as a Non-Executive For For He is eligible for re-election and has relevant experience in the field.
Director of the Company [having Director Identification Number (DIN):
00065964], pursuant to Regulation 17(1A) of the Securities and Ex-
change Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
09-Aug-18 Godrej Agrovet Limited AGM Management To approve the continuation of Dr. R. A. Mashelkar, as a Non- Executive For For He is eligible for re-election and has relevant experience in the field.
Independent Director of the Company [having Director Identification Num-
ber (DIN): 00074119] upto July 17, 2022, pursuant to Regulation 17(1A)
of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
09-Aug-18 Godrej Agrovet Limited AGM Management To approve waiver of recovery of excess remuneration paid to Mr. B. S. For For "During FY17, B. S. Yadav’s remuneration exceed the limits as per Section
Yadav, Managing Director [having Director Identification Number (DIN) 197 of the Act on account of exercise of stock options. The company requires
: 00294803], during the Financial Year (F.Y.) 2016-17, without requiring shareholder approval to waive recovery of excess remuneration paid to the ex-
approval of Central Government. tent of Rs. 866.1 mn paid to B. S. Yadav for the year ended 31 March 2017.
The company is in the process of applying to the Central Gov-
ernment for approval to waive recovery of excess remuneration.
B. S. Yadav’s remuneration is reasonable in absolute terms and is commensu-
802
rate with the size and complexities of his responsibilities."
09-Aug-18 Godrej Agrovet Limited AGM Management To approve amendment of the “Godrej Agrovet Limited – Employees For Against The proposed amendments allow the company to directly administer the
Stock Grant Scheme, 2018” (“ESGS 2018”) scheme and re-issue lapsed or forfeited options. Even so, the stock options will
likely be granted at a deep discount to market price. Since we do not support
stock options schemes with exercise prices at a deep discount to market price,
we are unable to support the reissuance of forfeited and lapsed options.
09-Aug-18 MRF Ltd. AGM Management "To adopt the Audited Financial Statements of the Com- For For There is no adverse observation/comment in Audiotrs report/ Financials and
pany for the financial year ended 31st March, 2018 and notes to a/cs, hence it can be adopted. The director's report is satisfactory and
the Reports of the Board of Directors and Auditors there- can be adopted
on and the Audited Consolidated Financial Statements
of the Company for the Financial Year ended 31st March,2018 and the
Reports of the Auditors thereon."
09-Aug-18 MRF Ltd. AGM Management To declare a final dividend on equity shares. For For Company has generated enough Profits to pay dividend to the shareholders and
09-Aug-18 MRF Ltd. AGM Management To appoint a Director in place of Dr.(Mrs)Cibi Mammen who retires by For For She is eligible for re-election and has relevant experience in the field.
rotation and being eligible, offers herself for reappointment.
09-Aug-18 MRF Ltd. AGM Management To appoint a Director in place of Mrs.Ambika Mammen who retires by For For She is eligible for re-election and has relevant experience in the field.
rotation and being eligible, offers herself for reappointment
09-Aug-18 MRF Ltd. AGM Management Re-appointment of Mr. Arun Mammen as Vice Chairman and Managing For For He is eligible for re-election and has relevant experience in the field.
Director of the Company.
09-Aug-18 MRF Ltd. AGM Management Issue of Secured/Unsecured Non Convertible Debentures not exceeding For For The NCDs will be issued within the overall borrowing limit. MRF currently has a
Rs.500 Crores through private placement long-term credit rating of ICRA AAA/Stable on its NCD programmes.
09-Aug-18 MRF Ltd. AGM Management To ratify the remuneration payable to Mr. C. GovindanKutty, Cost Auditor For For The total remuneration proposed to be paid to the cost auditors is reasonable
of the Company. compared to the size and scale of operations.
09-Aug-18 TTK Healthcare Ltd. AGM Management Adoption of the Audited Financial Statements for the year ended 31st For For Accounts have been audited following all prescribed rules and regulations
March, 2018 together with the Reports of Directors and Auditors thereon.
09-Aug-18 TTK Healthcare Ltd. AGM Management Declaration of Dividend. For For Dividend payout is beneficial to shareholders
09-Aug-18 TTK Healthcare Ltd. AGM Management Re-appointment of Mr T T Jagannathan as a Director of the Company. For For His appointment is line with statutory requirements.
09-Aug-18 TTK Healthcare Ltd. AGM Management Re-appointment of Mr K Shankaran as a Director of the Company. For For His appointment is line with statutory requirements.
09-Aug-18 TTK Healthcare Ltd. AGM Management Approval for continuation of current term of Mr B N Bhagwat as Indepen- For Against The concerned person has been on the board for more than 15 years. A new
dent Director. inductee on the board can bring new thoughts to the company.
09-Aug-18 TTK Healthcare Ltd. AGM Management Approval for continuation of current term of Dr (Mrs) Vandana R Walvekar For For Her appointment is line with statutory requirements.
as Independent Director.
09-Aug-18 TTK Healthcare Ltd. AGM Management Approval for continuation of current term of Mr S Balasubramanian as For For His appointment is line with statutory requirements.
Independent Director.
09-Aug-18 TTK Healthcare Ltd. AGM Management Ratification for the remuneration payable to the Cost Auditors of the Com- For For This is line with statutory requirements
pany for the year 2018-19.
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "To receive, consider and adopt: For For Accounts have been audited following all prescribed rules and regulations
CO (a) the audited financial statements of the Corporation for the financial
year ended March 31, 2018 together with the reports of the Board of
Directors and Auditors thereon; and
(b) the audited consolidated
financial statements for the financial year ended March 31, 2018
together with the report of the Auditors thereon"
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "To confirm the payment of interim dividend on equity shares and For For "The total dividend payout (including dividend distribution tax) for FY18 aggre-
803
CO to declare final dividend on equity shares for the financial year ended gates to ~Rs 40.3 bn. The dividend payout ratio for FY18 was 33.2%."
March 31, 2018"
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "Appointment of Mr. Upendra Kumar Sinha as an Independent Director For For "U K Sinha is the former Chairman of SEBI. His appointment as Independent
CO of the Corporation" Director is in line with the statutory requirements."
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "Appointment of Mr. Jalaj Ashwin Dani as an Independent Director of For For "Jalaj Dani is co-promoter of Asian Paints Ltd. His appointment as Independent
CO the Corporation" Director is in line with the statutory requirements."
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "Continuation of the directorship of Mr. B. S. Mehta (DIN: 00035019) in For For He is eligible for re-election and has relevant experience in the field.
CO the Corporation"
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "Continuation of the directorship of Dr. Bimal Jalan (DIN: 00449491) in For For He is eligible for re-election and has relevant experience in the field.
CO the Corporation"
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "Continuation of the directorship of Dr. J. J. Irani (DIN: 00311104) in the For For He is eligible for re-election and has relevant experience in the field.
CO Corporation"
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "Re-appointment of Mr. Deepak S. Parekh as a Non-Executive Director For For Deepak Parekh joined HDFC in 1978. He retired as the MD in December 2009.
CO of the Corporation:" He has been a non-executive director on the board since January 2010. Recent
changes in SEBI’s LODR require directors having attained the age of 75 to be
re-approved by shareholders through a special resolution. Deepak Parekh will
be 75 years on 18 October 2019. In line with this regulatory change, Deepak
Parekh’s reappointment as Non-Executive Director requires shareholder ap-
proval. The reappointment is in line with the statutory requirements.
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "Issuance For For The issuance will be within the overall borrowing limit.
CO of Redeemable Non-Convertible Debentures and/or other hybrid
instruments on private placement basis, for an aggregate amount not
exceeding Rs. 85,000 crore"
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management Approval of Related Party Transactions with HDFC Bank Limited: For For "HDFC Bank sources home loans for HDFC through its branches across
CO India. HDFC, after necessary due diligence, approves and disburses the
loans. The loans are booked with HDFC and HDFC Bank is paid com-
mission for its services. Further HDFC Bank periodically purchases the
loans and HDFC is paid a fee for servicing the home loans assigned by
it. The audit committee has already granted approval for assignment/sale
of home loans to the bank up to an overall limit of Rs. 320.0 bn for FY19.
The transactions are in the ordinary course of business and will be conducted
on an arm’s length basis. It will enable HDFC to expand its reach, leverage on
group expertise and cross-sell its products."
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "Approval of the borrowing limits of the Board of Directors of the Corpo- For For As on 31 March 2018, the corporation had outstanding borrowings of Rs. 3.2
CO ration at any given point of time shall not exceed Rs. 5,00,000 crore" trillion. In order to support its growing loan portfolio, HDFC needs to increase
its borrowing limit to Rs. 5.0 trillion. The capital adequacy ratio as on 31 March
2018 is 19.2% (Tier I – 17.3%) against a minimum of 12% (Tier I – 6%) as re-
quired by regulatory norms. Debt levels in an NBFC are typically reined in by the
regulatory requirement of maintaining a slated minimum capital adequacy ratio.
The corporation has a credit rating of CRISIL AAA/Stable/CRISIL A1+ and ICRA
AAA/Stable/ICRA A1+, which denotes highest degree of safety regarding timely
servicing of debt obligations.
30-Jul-18 HOUSING DEVELOPMENT FINANCE AGM Management "Re-appointment of Mr. Keki M. Mistry as the Managing Director (desig- For For "Keki Mistry has been the Vice Chairman & Managing Director since Oc-
CO nated as “Vice Chairman & Chief Executive Officer”) of the Corporation" tober 2007. His proposed pay comprises both short term (commission)
and long-term incentives (stock options). His proposed fixed remuner-
ation is estimated at Rs 128.3 mn in FY19 (Rs 119.3 mn in FY18). His total
pay, including the entire value of ESOP’s granted during the year, com-
puted at fair value, is estimated at Rs 528.3 mn, (FY18 Rs 510.4 mn).
804
ESOPs are granted every two years and form 70-75% of the total pay.
We observe that in the past, remuneration paid to Keki Mistry has been aligned
with the performance of the company. While the company does not have compa-
rable peers in the industry, the proposed remuneration is in line with peers in the
financial services sector of similar size and scale."
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "To receive, consider and adopt the Audited Financial Statements For For Accounts have been audited following all prescribed rules and regulations
(Standalone & Consolidated) for the financial year ended on March 31,
2018 and the Reports of the Directors and Auditors thereon"
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management To declare dividend For For "The total dividend for the year amounts to Rs.5.4 bn. The dividend payout is
104.6% (56.1% in FY17)."
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "To appoint a Director in place of Ms. Nandini Piramal (DIN: For For "Ms. Nandini Piramal (DIN: 00286092) is a promoter executive director. Her
00286092), who retires by rotation in terms of Section 152(6) of the reappointment is in line with the statutory requirements."
Companies Act, 2013 and being eligible, offers herself for
re-appointment."
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Mr. S. Ramadorai (DIN: 00000002) be and is hereby re-appointed as For For He is a veteran in the industry and adds significant value due to his long
Independent Director of the Company, not liable to retire by rotation" serving career
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Mr. Narayanan Vaghul (DIN: 00002014), be and is hereby re-appointed For For He is a veteran in the industry and adds significant value due to his long
as Independent Director of the Company, not liable to retire by rotation" serving career
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Dr. R.A. Mashelkar (DIN: 00074119), be and is hereby re-appointed as For For "R.A. Mashelkar (DIN: 00074119) is the former Director General of Council of
Independent Director of the Company, not liable to retire by rotation" Scientific and Industrial Research. He has been an Independent Director on
the company’s board for 7 years. His reappointment is in line with all statutory
requirements. However, once his tenure crosses 10 years, we will classify him
as a non-independent director. He has attended 63% (5 of 8) board meetings
in FY18: we expect directors to take their responsibilities seriously and attend
all board meetings."
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Prof. Goverdhan Mehta (DIN: 00350615), be and is hereby re-ap- For For "Goverdhan Mehta (DIN: 00350615) is a former Professor of IIT Kanpur. He
pointed as Independent Director of the Company, not liable to retire by has been an Independent Director on the company’s board for 7 years. His re-
rotation" appointment is in line with all statutory requirements. However, once his tenure
crosses 10 years, we will classify him as a non-independent director."
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Mr. Keki Dadiseth (DIN: 00052165), be and is hereby re-appointed as For For He is a veteran in the industry and adds significant value due to his long
Independent Director of the Company, not liable to retire by rotation" serving career
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Mr. Deepak Satwalekar (DIN: 00009627), be and is hereby re-appointed For For He is a veteran in the industry and adds significant value due to his long
as Independent Director of the Company, not liable to retire by rotation" serving career
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Mr. Gautam Banerjee (DIN: 03031655),, be and is hereby re-appointed For For "Gautam Banerjee (DIN: 03031655) is Senior MD, Blackstone Group. He has
as Independent Director of the Company, not liable to retire by rotation" been an Independent Director on the company’s board since 1 April 2013.
His reappointment is in line with all statutory requirements. However, once his
tenure crosses 10 years, we will classify him as a non-independent director."
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Mr. Siddharth Mehta (DIN: 06530606), be and is hereby re-appointed For For "Siddharth Mehta (DIN: 06530606) is former CEO of HSBC Finance. He has
as Independent Director of the Company, not liable to retire by rotation" been an Independent Director on the company’s board since 1 April 2013.
His reappointment is in line with all statutory requirements. However, once his
tenure crosses 10 years, we will classify him as a non-independent director."
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Re-appointment of Dr. (Mrs.) Swati A. Piramal (DIN: 00067125) as For For "The proposed remuneration of Rs.64 mn is in line with peers and commensu-
Whole – Time Director designated as ‘Vice – Chairperson’ of the Compa- rate with the size and scale of operations. Further, the company has disclosed
ny, liable to retire by rotation" a detailed remuneration structure with absolute caps on both fixed and variable
pay."
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "Appointment of Mr. Vijay Shah (DIN: 00021276) as Whole-Time For For "The proposed remuneration of Rs.75.6 mn is in line with peers and commen-
Director designated as ‘Executive Director’ of the Company, liable to surate with the size and scale of operations. He will also be eligible for stock
retire by rotation" options; the company must consider disclosing the maximum number of stock
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options it proposes to grant, or set a cap (in value terms) on the aggregate
value of stock options he will be granted as part of his remuneration."
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "To offer or invite subscriptions for secured/unsecured For For "The issuance will be within the approved borrowing limit of Rs.440 bn, over
redeemable non-convertible debentures, in one or more series/ and above the aggregate of paid up capital and free reserves (~Rs.121.5 bn)."
tranches, on private placement, on such terms and conditions as
the Board may, from time to time, determine and consider proper
and most beneficial to the Company"
30-Jul-18 PIRAMAL ENTERPRISES LTD. AGM Management "The remuneration payable to M/s. G.R. Kulkarni & Associates, Cost For For "The remuneration to be paid to the cost auditor is reasonable compared to the size and
Accountants amounting to Rs. 6,00,000/-" scale of the company’s operations."
07-Aug-18 Mahindra & Mahindra Ltd. AGM Management To receive, consider and adopt the Audited Financial Statement (includ- For For There is no adverse observation/comment in Audiotrs report/ Financials and
ing Audited Consolidated Financial Statement) of the Company for the notes to a/cs, hence it can be adopted. The director's report is satisfactory and
Financial Year ended 31st March, 2018 and the Reports of the Board of can be adopted
07-Aug-18 Mahindra & Mahindra Ltd. AGM Management Declaration of Dividend on Ordinary (Equity) Shares. For For Company has generated enough Profits to pay dividend to the shareholders and
07-Aug-18 Mahindra & Mahindra Ltd. AGM Management Re-appointment of Mr. Anand Mahindra (DIN:00004695) as a Director, For For He is eligible for re-election and has relevant experience in the field.
who retires by rotation and, being eligible, offers himself for re-appoint-
ment.
07-Aug-18 Mahindra & Mahindra Ltd. AGM Management Ratification of the Remuneration payable to Messrs D. C. Dave & Co., For For The remuneration to be paid to the cost auditor is reasonable compared to the
Cost Accountants (Firm Registration Number 000611), appointed as the size and scale of the company’s operations.
Cost Auditors of the Company for the Financial Year ending 31st March,
2019.
07-Aug-18 Mahindra & Mahindra Ltd. AGM Management Re-appointment of Mr. M. M. Murugappan (DIN:00170478) as an Inde- For For He is eligible for re-election and has relevant experience in the field.
pendent Director of the Company for a second term of two consecutive
years commencing from 8th August, 2018 to 7th August, 2020.
07-Aug-18 Mahindra & Mahindra Ltd. AGM Management Re-appointment of Mr. Nadir B. Godrej (DIN: 00066195) as an Indepen- For For He is eligible for re-election and has relevant experience in the field.
dent Director of the Company for a second term of two consecutive years
commencing from 8th August, 2018 to 7th August, 2020.
07-Aug-18 Mahindra & Mahindra Ltd. AGM Management Borrow by way of securities, including but not limited to, secured/unse- For For The issuance will be within the approved borrowing limits of the company.
cured redeemable Non-Convertible Debentures (NCDs) to be issued
under Private Placement basis upto Rs. 5,000 crores.
07-Aug-18 Mphasis Ltd. AGM Management Adoption of standalone and consolidated financial statements For For Accounts have been audited following all prescribed rules and regulations
07-Aug-18 Mphasis Ltd. AGM Management Approval of final dividend on equity shares For For Dividend payout is beneficial to shareholders
07-Aug-18 Mphasis Ltd. AGM Management Re-appointment of Mr. Amit Dalmia, who retires by rotation For For His appointment is line with statutory requirements.
07-Aug-18 Mphasis Ltd. AGM Management Re-appointment of Mr. David Lawrence Johnson, who retires by rotation For For His appointment is line with statutory requirements.
07-Aug-18 Mphasis Ltd. AGM Management Appointment of M/s. BSR & Co. LLP, Chartered Accountants as the Stat- For For This is line with statutory requirements
utory Auditors and fixing their remuneration
07-Aug-18 Mphasis Ltd. AGM Management Re-appointment of Mr. Narayanan Kumar as an Independent Director For For His appointment is line with statutory requirements.
31-Jul-18 TI Financial Holdings Limited AGM Management "Adoption of financial statements together with the board’s report and For For Accounts have been audited following all prescribed rules and regulations
auditor’s report thereon for the financial year ended March 31, 2018."
31-Jul-18 TI Financial Holdings Limited AGM Management "Confirmation of interim dividend paid on equity shares and approval of For For The aggregate dividend is Rs.1.25 per share. The total dividend outflow includ-
final dividend for the year ended March 31, 2018." ing dividend tax for FY18 is Rs.282.1 mn. The dividend payout ratio for FY18
is 47.5%.
31-Jul-18 TI Financial Holdings Limited AGM Management Re-appointment of Mr. N Srinivasan, director retiring by rotation. For For N Srinivasan is Vice-Chairperson and Managing Director of Cholamandalam
Investment and Finance Company Limited. He is liable to retire by rotation and
806
his reappointment is in line with all statutory requirements.
31-Jul-18 TI Financial Holdings Limited AGM Management "Ratification of appointment of M/s. S.R.Batliboi & Associates LLP, Char- For For The ratification is in line with our Voting Policy on Auditor (Re)Appointment and
tered Accountants as Statutory Auditors and fixing their remuneration." follows the spirit of Section 139 of the Companies Act, 2013. The proposed re-
muneration aggregating Rs.0.74 mn (plus applicable taxes and out-of-pocket
expenses) for FY19 is reasonable.
31-Jul-18 TI Financial Holdings Limited AGM Management Appointment of Mr. M M Murugappan as a director liable to retire by ro- For For M M Murugappan is the Chairperson of the company and Executive Chairper-
tation. son of the Murugappa Group. He was appointed as an additional director on 11
November 2017. He is liable to retire by rotation and his reappointment is in line
31-Jul-18 TECH MAHINDRA LTD. AGM Management "To consider and adopt the Financial Statements of the Company for the For For Accounts have been audited following all prescribed rules and regulations
financial year ended 31st March, 2018 and the Reports of the Board of
Directors and Auditors thereon"
31-Jul-18 TECH MAHINDRA LTD. AGM Management "To consider and adopt the Consolidated Financial Statements of the For For Accounts have been audited following all prescribed rules and regulations
Company for the financial year ended 31st March, 2018 and the Report
of the Auditors thereon."
31-Jul-18 TECH MAHINDRA LTD. AGM Management To declare dividend for the financial year ended 31st March, 2018 For For Dividend payout is beneficial to shareholders
31-Jul-18 TECH MAHINDRA LTD. AGM Management "Mr. Vineet Nayyar (DIN : 00018243) who was appointed as a Director For For This is line with statutory requirements
of the Company liable to retire by rotation, and who does not seek
re-appointment"
31-Jul-18 TECH MAHINDRA LTD. AGM Management Mr. C. P. Gurnani (DIN: 00018234) be and is hereby re-appointed as a For For His appointment is line with statutory requirements
Managing Director and CEO of the Company, liable to retire by rotation
31-Jul-18 TECH MAHINDRA LTD. AGM Management To issue, offer and allot to any one or more or all of the permanent em- For For ESOPs if issued at face value will lead to an annual impact of Rs810mn which
ployees and directors of the Company (other than such employees, di- is 2% of FY18 PAT (which is the maximum impact) assuming current market
rectors who are not entitled to stock options pursuant to the provisions of price. ESOPs help in employee retention of senior and middle management as
Companies Act, 2013 or SEBI ESOP vesting is backended - c65% in the last two years. In the previous ESOP cycle
only 40% of ESOP were issued at face value while rest were issued at a discount
or market price.
31-Jul-18 TECH MAHINDRA LTD. AGM Management "To issue, offer and allot to any one or more or all of the permanent employees For For ESOPs if issued at face value will lead to an annual impact of Rs810mn which
and directors of subsidiary companies of the company whether in India or is 2% of FY18 PAT (which is the maximum impact) assuming current market
overseas (other than such employees, directors who are not entitled to stock price. ESOPs help in employee retention of senior and middle management as
options pursuant to the provisions of Companies Act, 2013 or SEBI vesting is backended - c65% in the last two years. In the previous ESOP cycle
ESOP" only 40% of ESOP were issued at face value while rest were issued at a discount
or market price.
10-Aug-18 Eicher Motors Ltd. AGM Management To review, consider and adopt the Audited Financial Statements (includ- For For There is no adverse observation/comment in Audiotrs report/ Financials and
ing consolidated financial statements) of the Company for the financial notes to a/cs, hence it can be adopted. The director's report is satisfactory and
year ended March 31, 2018 together with the reports of Board of Directors can be adopted
and the Auditors thereon.
10-Aug-18 Eicher Motors Ltd. AGM Management To declare a dividend of Rs. 110/- per equity share for the financial year For For Company has generated enough Profits to pay dividend to the shareholders and
ended March 31, 2018. in the line with market practice.
10-Aug-18 Eicher Motors Ltd. AGM Management To consider and ratify remuneration of Cost Auditor payable for financial For For The total remuneration proposed is reasonable compared to the size and scale
year 2017-18. of the company’s operations.
10-Aug-18 Eicher Motors Ltd. AGM Management To consider and approve re-classification of certain Promoter and Promot- For For Ms. Rukmani Joshi, deceased member of promoter group was holding 1.12%
er Group individuals of the Company. equity shares of the company. After her demise, her stake in the company was
transmitted to her three descendants by way of inheritance in equal proportion
807
(0.37%) equity shares each to Arjun Joshi, Ms. Nihar Joshi and Ms. Shonar
Joshi in FY18. By virtue of acquisition, Arjun Joshi, Ms. Shonar Joshi and Ms. Ni-
har Joshi are considered as promoters. Other than the shares acquired through
inheritance, as above Arjun Joshi, Ms. Shonar Joshi and Ms. Nihar Joshi are
not holding any shares in the company. These three do not exercise any control
over the affairs of the company either directly or indirectly. The change will not
materially impact non-promoter shareholders.
11-Aug-18 V.S.T.Tillers Tractors Ltd. AGM Management Adoption of Audited Financial Statements for the year ended 31st March, For For There is no adverse observation/comment in Audiotrs report/ Financials and
2018. notes to a/cs, hence it can be adopted. The director's report is satisfactory and
can be adopted
11-Aug-18 V.S.T.Tillers Tractors Ltd. AGM Management To declare dividend for the year 2017-18. For For Company has generated enough Profits to pay dividend to the shareholders and
11-Aug-18 V.S.T.Tillers Tractors Ltd. AGM Management "Appointment of Mr. V.T. Ravindra a Director who retires by rotation For For He is eligible for re-election and has relevant experience in the field.
and eligible for re-appointment."
11-Aug-18 V.S.T.Tillers Tractors Ltd. AGM Management To fix Remuneration of Auditors. For For KS Rao & Co were appointed for a period of five years at the 2016 AGM. The
total audit fees of Rs.1.8 mn in FY18 (excluding tax and reimbursements) is
commensurate with the size and complexity of the company
11-Aug-18 V.S.T.Tillers Tractors Ltd. AGM Management "To Approve the remuneration of the Cost Auditors for the For For The total remuneration proposed is reasonable compared to the size and scale
Financial Year ending March 31, 2019." of the company’s operations
11-Aug-18 V.S.T.Tillers Tractors Ltd. AGM Management To Approve appointment of Mr. V.T. Ravindra as Whole-time Director. For For VT Ravindra was non-executive director of the company from 27 May 2016 to
10 May 2018. He was appointed as the Wholetime Director for five years with
effect from 11 May 2018. His proposed remuneration is estimated at Rs.6.6 mn,
which is comparable to peers and commensurate with the size and complexity
of business
11-Aug-18 V.S.T.Tillers Tractors Ltd. AGM Management To Approve appointment of Mr. Arun V. Surendra as a Director. For For Arun V Surendra is the Managing Partner of Gove Investment. His appointment
is in line with statutory requirements
07-Aug-18 Adani Enterprises Ltd. AGM Management "Adoption of audited financial statements (including con- For For There is no adverse observation/comment in Audiotrs report/ Financials and
solidated financial statements) for the financial year ended notes to a/cs, hence it can be adopted. The director's report is satisfactory and
st 31 March, 2018 (Ordinary Resolution)." can be adopted
07-Aug-18 Adani Enterprises Ltd. AGM Management Declaration of Dividend on Equity Shares (Ordinary Resolution). For For Company has generated enough Profits to pay dividend to the shareholders and
07-Aug-18 Adani Enterprises Ltd. AGM Management "Re-appointment of Mr. Rajesh S. Adani (DIN: 00006322), as a Director For For Rajesh Adani, 54, is part of the promoter family and Managing Director, Adani
of the Company who retires by rotation (Ordinary Resolution)." Enterprises Limited. He retires by rotation and his reappointment is in line with
statutory requirements
07-Aug-18 Adani Enterprises Ltd. AGM Management "Re-appointment of Mr. Pranav V. Adani (DIN :00008457), as a Director For For Pranav Adani, 40, is part of the promoter family and Executive Director, Adani
of the Company who retires by rotation (Ordinary Resolution)." Enterprises Limited. He retires by rotation and his reappointment is in line with
statutory requirements
07-Aug-18 Adani Enterprises Ltd. AGM Management Appointment of Mr. Narendra Mairpady (DIN: 00536905), as an Indepen- For For Narendra Mairpady, 63, is Former Chairperson and Managing Director, Indian
dent Director (Ordinary Resolution). Overseas Bank. He was appointed as additional director with effect from 9 De-
cember 2017. His appointment is in line with statutory requirements.
07-Aug-18 Adani Enterprises Ltd. AGM Management Re-appointment of Mr. Gautam S. Adani (DIN: 00006273), as an Execu- For For "His estimated FY19 remuneration of Rs.31.0 mn for FY19 is in line with peers
tive Chairman (Ordinary Resolution). of similar size and commensurate with size and complexity of the business. The
commission component of the remuneration is open-ended at upto 2% of net prof-
it - we expect the company to cap the absolute amount of commission payable.
Gautam Adani also serves in an executive capacity on the board of Adani Trans-
mission Limited (ATL) and Adani Ports and Special Economic Zone Limited (AP-
SEZ). He drew a remuneration of Rs. 28.0 mn from APSEZ in FY18. As promoter
and executive chairperson, he has responsibilities towards all group companies.
He should consider stepping down from his executive responsibilities from the
808
group companies and provide guidance as non-executive chairperson"
07-Aug-18 Adani Enterprises Ltd. AGM Management Appointment of Mr. Vinay Prakash (DIN: 03634648), as a Director (Ordi- For For Vinay Prakash, 44, is being appointed as Executive Director, Adani Enterprises
nary Resolution). Limited. His appointment is in line with statutory requirements
07-Aug-18 Adani Enterprises Ltd. AGM Management Appointment of Mr. Vinay Prakash (DIN: 03634648), as an Executive Di- For For His estimated FY19 remuneration of Rs. 60.0 mn is in line with peers and com-
rector designated as Director (Special Resolution). mensurate with the size and complexity of the business. The commission com-
ponent of the remuneration is open-ended - we expect the company to cap the
absolute amount of commission payable.
07-Aug-18 Adani Enterprises Ltd. AGM Management Ratification of appointment of Mr. Rajiv Nayar (DIN: 07903822), as an For For "Rajiv Nayar was appointed as Executive Director and CFO with effect from 12 Au-
Additional Director (Special Resolution). gust 2017. He subsequently resigned on 1 May 2018, due to prioritization of wider
group related professional responsibilities. Therefore, the company proposes to
ratify his appointment and remuneration for the period that he was on the board.
His FY18 remuneration of Rs. 51.1 mn was in line with peers and commensurate
with the size and complexity of the business."
07-Aug-18 Adani Enterprises Ltd. AGM Management Approval of offer or invitation to subscribe to Securities for an amount not For For "Assuming the entire amount of Rs. 50 bn is raised, at the current market
exceeding Rs. 5,000 Crores (Special Resolution). price (Rs. 141.9 on 19 July 2018), the company will issue ~352 mn shares.
The maximum dilution is ~24.3% on the expanded capital base, considering
the shareholding on 31 March 2018. While the dilution is relatively high, we
understand that the company needs funds to support its operations. The equity
infusion should help improve the capital structure. Even so, the company
should have disclosed the proposed plans for the equity raise."
07-Aug-18 Adani Enterprises Ltd. AGM Management Approval of offer or invitation to subscribe to Non-Convertible Debentures For For The issuance will be within the overall borrowing limits of Rs. 120 bn over and
on private placement basis (Special Resolution). above the paid up capital and free reserves of the company. The company has
not specified the quantum of NCDs it proposes to issue
07-Aug-18 Adani Enterprises Ltd. AGM Management Ratification of the Remuneration of the Cost Auditors (Ordinary Resolu- For For The total remuneration proposed to be paid to the cost auditors in FY19 is rea-
tion). sonable compared to the size and scale of operations
13-Aug-18 Cadila Healthcare Ltd. AGM Management Adoption of Financial Statements [including consolidated financial state- For For Accounts have been audited following all the prescribed rules and regulations
ments] for the Financial Year ended on March 31, 2018.
13-Aug-18 Cadila Healthcare Ltd. AGM Management Declaration of Dividend on Equity Shares for the financial year ended on For For The total dividend for the year amounts to Rs.4.3 bn. The dividend payout is
March 31, 2018. 39.5% (59.6% in FY17).
13-Aug-18 Cadila Healthcare Ltd. AGM Management Re–appointment of Mr. Pankaj R. Patel, Director retiring by rotation. For For Pankaj R. Patel (DIN: 00131852) is the promoter Chairperson of Cadila. His
reappointment is in line with the statutory requirements.
13-Aug-18 Cadila Healthcare Ltd. AGM Management Ratification of remuneration to Cost Auditors. For For The remuneration to be paid to the cost auditor is reasonable compared to the
size and scale of the company’s operations.
13-Aug-18 Cadila Healthcare Ltd. AGM Management Issue of securities through Qualified Institutional Placement / Foreign Cur- For For If we assume entire amount is raised, it will result in equity dilution of ~20% for
rency Convertible Bonds, etc. existing shareholders. The company has taken similar approvals in the past - but
has not issued securities during the validity period of the approval. The company
spent Rs.9.8 bn on capex in FY18. In its latest telecon, the company has stated
that it envisages capex of Rs.10 bn over the next two years. In this context,
we recognize this as an operational decision of the company which will help it
expand its business further.
13-Aug-18 Cadila Healthcare Ltd. AGM Management Issue of Secured / Unsecured Redeemable Non–Convertible Debentures For For The issuance will be within the approved borrowing limit of Rs.100 bn.
/ Bonds.
13-Aug-18 IDBI Bank Ltd. AGM Management Adoption of the Audited Financial Statements of IDBI Bank as on March For For Accounts have been audited following all the prescribed rules and regulations
31, 2018 together with Reports of Directors and Auditors thereon
13-Aug-18 IDBI Bank Ltd. AGM Management Authorising the Board of Directors to appoint/ re-appoint Statutory Cen- For For The appointment of Mukund M. Chitale & Co. S Aiyar & Co. and J L N U S &
tral Auditors of IDBI Bank and Branch Statutory Auditor of DIFC, Dubai Co. as joint statutory auditors is in-line with the statutory requirements. However,
Branch of IDBI Bank for FY 2018-19 IDBI Bank needs to separate the resolutions for three auditor (re)appointments
809
and the branch (re)appointment so that shareholders can vote on them sep-
arately
13-Aug-18 IDBI Bank Ltd. AGM Management Enabling Resolution u/s 62(1)(c) of the Companies Act, 2013 for issue of For For Although a Rs 50 bn equity raise will result in a 28.1% dilution (at current market
shares aggregating upto Rs. 5000 crore (inclusive of premium amount) prices), IDBI Bank needs the funds to manage its capital adequacy levels. RBI
through various modes of issue including QIP has imposed restrictions on IDBI Bank’s lending operations because its capital
adequacy levels were below RBI required thresholds on 31 March 2018. Even
so, the proposed issue of Rs 50.0 is lower than the FY18 loss of Rs 82.4 bn:
therefore, if the bank raises the equity, it will only partially mute the impact of the
bank’s deteriorating capital adequacy levels. Further, because its current free
float market capitalisation is less than Rs. 35bn, the bank is unlikely to raise this
equity without LIC’s support
13-Aug-18 IDBI Bank Ltd. AGM Management Enabling Resolution u/s 42 of the Companies Act, 2013 for mobilization in For For The issuance of debt securities on private placement basis will be within the
one or more tranches upto Rs. 5000 crore comprising of Bonds by way of overall borrowing limit of the Bank
Private Placement/Public Issue
13-Aug-18 IDBI Bank Ltd. AGM Management Appointment of Shri Bhuwanchandra B. Joshi as Independent Director For For B. B. Joshi is former ED – Bank of Baroda. His appointment is in line with stat-
of the Bank utory requirements
13-Aug-18 IDBI Bank Ltd. AGM Management Appointment of Shri Samaresh Parida as Independent Director of the For For Samaresh Parida is Founder and CEO - SP Growth Consulting. Prior to this he
Bank has worked with Vodafone in India and PepsiCo in the US. His appointment is in
line with statutory requirements
13-Aug-18 IDBI Bank Ltd. AGM Management Appointment of Shri N. Jambunathan as Independent Director of the Bank For For Jambunathan Narayanan is former Deputy MD with State Bank of India. His
appointment is in line with statutory requirements
13-Aug-18 IDBI Bank Ltd. AGM Management To note the nomination of Shri Sudhir Shyam, Director, Department of For For He is eligible and has relevant experience in the field.
Financial Services, Govt. of India as Government Nominee Director on
the Board of IDBI Bank Ltd.
13-Aug-18 IDBI Bank Ltd. AGM Management To note the appointment of Shri B. Sriram as MD and CEO of the Bank For For He is eligible and has relevant experience in the field.
13-Aug-18 Camlin Fine Sciences Ltd AGM Management To consider and adopt, the audited financial statements (including con- For For There is no adverse observation/comment in Audiotrs report/ Financials and
solidated financial statements) of the Company for the financial year end- notes to a/cs, hence it can be adopted. The director's report is satisfactory and
ed 31st March, 2018 and the reports of Board of Directors and Auditors can be adopted
thereon.
13-Aug-18 Camlin Fine Sciences Ltd AGM Management To appoint a Director in place of Mr. Nirmal V. Momaya (DIN: 01641934), For For He is eligible for re-election and has relevant experience in the field.
who retires by rotation and being eligible, offers himself for re-appoint-
ment
13-Aug-18 Camlin Fine Sciences Ltd AGM Management To appoint a Director in place of Mr. Ajit S. Deshmukh (DIN: 00203706), For For He is eligible for re-election and has relevant experience in the field.
who retires by rotation and being eligible, offers himself for re-appoint-
ment
13-Aug-18 Camlin Fine Sciences Ltd AGM Management Appointment of Ms. Anagha S. Dandekar (DIN: 07897205) as Non-Ex- For For She is eligible for election and has relevant experience in the field.
ecutive Director
13-Aug-18 Camlin Fine Sciences Ltd AGM Management Appointment of Mr. Arjun S. Dukane (DIN: 06820240) as Executive Di- For For He is eligible for election and has relevant experience in the field.
rector.
13-Aug-18 Camlin Fine Sciences Ltd AGM Management Appointment of Mr. Ashish S. Dandekar (DIN: 01077379) as the Man- For For He is eligible for re-election and has relevant experience in the field.
aging Director.
13-Aug-18 Camlin Fine Sciences Ltd AGM Management Re-classification of Mr. Vivek A. Dandekar, promoter and/or person con- For For "Mr. Ashish Dandekar and Ms. Leena Dandekar have been divorced since June
stituting promoters group of the Company, from Promoter Category to 2015. Mr. Ashish Dandekar’s children namely Ms. Abha Dandekar and Mr. Vivek
Non-Promoter Category Dandekar have also separated from him and live with Ms. Leena Dandekar.
Vide communication dated November 28, 2017, Ms. Leena Dandekar,
Ms. Abha Dandekar and Mr. Vivek Dandekar have intimated to the Com-
pany their decision of disassociating from the operations of the Com-
pany and to de-recognize them as the promoters of the Company. The
810
Board of Directors at their meeting held on December 26, 2017 ap-
proved their reclassification from promoter to non-promoter category.
Ms. Leena Dandekar, Ms. Abha Dandekar and Mr. Vivek Dandekar have sold
their entire stake in in the Company by the month of January 2018 and hence
as of date they do not hold any equity shares in the Company. Further they also
do not hold any special rights in the Company either through the shareholders
agreement or any other arrangement."
13-Aug-18 Camlin Fine Sciences Ltd AGM Management Re-classification of Ms. Abha A. Dandekar, promoter and/or person con- For For "Mr. Ashish Dandekar and Ms. Leena Dandekar have been divorced since June
13-Aug-18 Camlin Fine Sciences Ltd AGM Management Re-classification of Ms. Leena Dandekar, promoter and/or person con- For For "Mr. Ashish Dandekar and Ms. Leena Dandekar have been divorced since June
13-Aug-18 Camlin Fine Sciences Ltd AGM Management To consider and approve ESOP Scheme titled “CFS EMPLOYEES’ For For "Employees play an important and vital role in the growth and success of
STOCK OPTION SCHEME, 2018 any organisation. The Board of Directors of the Company has identified
the need to reward the employees based on their performance so as to re-
tain them and enable them to participate in the growth of the Company.
For continuity, growth and success of the Company, rewarding and retaining the
intellectual talent is of paramount importance considering the nature of the busi-
ness. The employees represent this intellectual strength and talent of the Company.
Company has a policy of rewarding and retaining the employees through ESOP.Apart
from rewarding the employees, ESOP also aligns employees interest with those of
the shareholders, thus participating in the overall value creation of the Company.
Accordingly, the Board of Directors of the Company has approved the ESOP
811
scheme. To adequately reward the employees, the scheme is made attractive
by offering a discount to the market price. The maximum discount under the
scheme is 20% and it is at the discretion of the management of the Company
based on the markets and other considerations. In ESOP, there is a dilution
however it is neither major nor immediate and happens over period of time. The
value creation that is expected due to ESOP scheme certainly over rules the
value of the stake holders post dilution."
20-Aug-18 LIC Housing Finance Ltd. AGM Management To receive, consider and adopt the audited financial statement of the For For Accounts have been audited following all prescribed rules and regulations
Company for the financial year ended 31st, March, 2018, together with
the reports of the Board of Directors and Auditors thereon; and the au-
dited consolidated financial statement for the financial year ended 31st,
March, 2018 together with the report of the Auditors thereon
20-Aug-18 LIC Housing Finance Ltd. AGM Management Declaration of dividend on the equity shares of the company for the fi- For For The dividend is Rs. 6.8 per share (face value Rs. 2.0) and pay-out ratio is 20.8%
nancial year 2017-18. up from 19.5% (Rs 6.2 per share) in FY17.
20-Aug-18 LIC Housing Finance Ltd. AGM Management Re-appointment of Ms. Savita Singh (DIN-01585328) as a Director, who For For She is eligible for re-election and has the relevant experience in the field
is liable to retire by rotation and, being eligible, offers herself for re-ap-
pointment
20-Aug-18 LIC Housing Finance Ltd. AGM Management Ratification of continuation of M/s. Chokshi & Chokshi, LLP, Chartered For For LIC Housing Finance Ltd. (‘LICHFL’) reappointed Chokshi & Chokshi LLP and
Accountants, Mumbai (Registration No.:101872W / W100045) and Shah Gupta & Co. as joint statutory auditors for three years in the AGM of FY16.
M/s. Shah Gupta & Co., Chartered Accountants, Mumbai (Registration The ratification of their appointment is line with our Voting Policy on Auditor (Re)
No.:109574W) as Joint Statutory Auditors of the Company to hold the of- Appointments and with the provisions of Section 139 of the Companies Act 2013.
fice from the conclusion of this Twenty Ninth Annual General Meeting until
the conclusion of the Thirtieth Annual General Meeting on a remuneration
to be determined by the Board of Directors in consultation with them and
applicable taxes / cess.
20-Aug-18 LIC Housing Finance Ltd. AGM Management To issue Redeemable Non-Convertible Debentures, secured or unse- For For The issuance of debt securities on private placement basis will be within the
cured, on a private placement basis and / or any other hybrid instruments overall borrowing limit of the company. LICHFL’s outstanding Non-Convertible
which can be classified as being Tier II capital upto an amount not ex- Debentures are rated CRISIL AAA/Stable/CRISIL A1+ and ICRA A1+: these
ceeding Rs.48,000/- Crore (Rupees Forty Eight Thousand Crore only) ratings denote highest degree of safety regarding timely servicing of financial
under one or more shelf disclosure document and / or under one or more obligations. These instruments carry low credit risk.
letters of offer as may be issued by the Company, and in one or more
series / tranches, during a period of one year commencing from the date
of this Meeting.
20-Aug-18 LIC Housing Finance Ltd. AGM Management Approval of increase in borrowing limits of the Company pursuant to Sec- For For LICHFL’s capital adequacy ratio of 15.5% is higher than National Housing
tion 180(1)(c) and other applicable provisions, if any, of the Companies Board’s (NHB) minimum requirement of 12%. Considering the growth in busi-
Act, 2013, and the Rules made thereunder. ness and operations of the company, its present and future requirements,
LICHFL needs fresh funds. Since the housing finance company is required to
maintain its capital adequacy ratio at levels prescribed by the NHB, we believe
that the capital structure will be regulated at all times. The company’s credit
ratings are CRISIL AAA/Stable/CRISIL A1+ and ICRA A1+: these ratings denote
highest degree of safety regarding timely servicing of financial obligations.
20-Aug-18 LIC Housing Finance Ltd. AGM Management Appointment of Shri P Koteswara Rao (DIN-06389741) as an Indepen- For For P Koteswara was with LIC for 30 years and retired as Chief (Investment) in
dent Director of the Company, to hold office as such for a period of five March 2016. His appointment meets all statutory requirements.
consecutive years w.e.f. 11th June, 2018 not liable to retire by rotation
13-Aug-18 Tube Investments of India Ltd AGM Management "Adoption of Audited Financial Statements of the Company For For There is no adverse observation/comment in Audiotrs report/ Financials and
for FY 2017-18, Reports of the Board of Directors and Auditors thereon." notes to a/cs, hence it can be adopted. The director's report is satisfactory and
can be adopted
13-Aug-18 Tube Investments of India Ltd AGM Management Adoption of Audited Consolidated Financial Statements of the Company For For There is no adverse observation/comment in Audiotrs report/ Financials and
for FY 2017-18 and Reports of the Auditors thereon. notes to a/cs, hence it can be adopted. The director's report is satisfactory and
812
can be adopted
13-Aug-18 Tube Investments of India Ltd AGM Management Declaration of Dividend. For For Company has generated enough Profits to pay dividend to the shareholders and
13-Aug-18 Tube Investments of India Ltd AGM Management Re-appointment of Mr. M M Murugappan, Director retiring by rotation. For For He is eligible for re-election and has relevant experience in the field.
13-Aug-18 Tube Investments of India Ltd AGM Management Ratification of appointment M/s. S.R.Batliboi & Associates LLP, Chartered For For S R Batliboi & Associates LLP have been the statutory auditors for the past three
Accountants as statutory auditors for FY2018-19 and fixing their remuner- years. The ratification follows the spirit of Section 139 of the Companies Act,
ation in respect thereof. 2013. S R Batliboi & Associates LLP will be paid a remuneration of Rs.3.3 mn
(plus applicable taxes and reimbursement of out-of-pocket expenses).
13-Aug-18 Tube Investments of India Ltd AGM Management Appointment of Mr. Ramesh K B Menon as Director. For For He is eligible for re-election and has relevant experience in the field.
13-Aug-18 Tube Investments of India Ltd AGM Management Alteration of sub-clause 10 under III(B) of the Memorandum of Associa- For For Objects Incidental or Auxiliary to the Attainment of Main Objects in the MoA of
tion of the Company. the company expressly stipulates that the company cannot contribute to any
political purposes. To remove the impediment in contributing for political purpos-
es, it is proposed that the Sub-clause 10 under III(B) of the MoA be altered to
provide for making political contributions.
13-Aug-18 Tube Investments of India Ltd AGM Management Issue of Non-Convertible Debentures for an aggregate sum of Rs.500 For For Tube Investments of India Limited (Tube) is seeking shareholder approval for
Crores on private placement basis. borrowing up to Rs.5.0 bn in one year through issue of secured redeemable
NCDs on private placement basis in one or more tranches. Tube’s bank facilities
are rated CRISIL AA / Positive / CRISIL A1+, which denotes high degree of safe-
ty regarding timely servicing of financial obligations.
13-Aug-18 Tube Investments of India Ltd AGM Management Ratification of remuneration payable to M/s. Mahadevan & Co., Cost Au- For For The total remuneration proposed is reasonable compared to the size and scale
ditor, for FY 2018-19. of the company’s operations
10-Aug-18 Federal Bank Ltd. AGM Management "a) Adoption of audited financial statement for the year ended March 31, 2018 For For Accounts have been audited following all prescribed rules and regulations
b) Adoption of audited consolidated financial state-
ment of the Bank including audited consolidated
Balance Sheet and Profit and Loss for the year ended March 31, 2018"
10-Aug-18 Federal Bank Ltd. AGM Management Declaration of Dividend For For The total dividend payout (including dividend distribution tax) for FY18 aggre-
gates to Rs 2.4 bn. The dividend payout ratio for FY18 was 27.0%.
10-Aug-18 Federal Bank Ltd. AGM Management Re-appointment of Retiring Director, Mr. Ganesh Sankaran (DIN For For Ganesh Sankaran is Federal Bank’s ED. He retires by rotation. His reappoint-
07580955) ment is in line with statutory requirements.
10-Aug-18 Federal Bank Ltd. AGM Management Appointment of Joint Central Statutory Auditors, M/s. B S R & Co. LLP, For For The appointment of BSR & Co. LLP and MM Nissim & Co. LLP as joint central
Chartered Accountants, Mumbai together with M/s M M Nissim & Co, statutory auditors is in-line with the statutory requirements. However, Federal
Mumbai, Chartered Accountants as Auditors and fixation of remuneration Bank needs to separate the two auditor reappointments so that shareholders
thereof can vote on them separately.
10-Aug-18 Federal Bank Ltd. AGM Management Appoint and to fix the remuneration of branch auditors in consultation with For For Federal Bank has 1,252 branches therefore the bank needs to appoint branch
the Central Statutory Auditors for the purpose. auditors. The resolution enables the Board to appoint branch auditors in consul-
tation with their joint central auditors.
10-Aug-18 Federal Bank Ltd. AGM Management Appointment of Mr. A P Hota (DIN- 02593219), as an Independent Direc- For For A P Hota has been with the Reserve Bank of India for over 27 years mostly
tor of the Bank. in technology and payment systems. He was the MD & CEO of the National
Payments Corporation of India over a period of 8 years (from 2009-2017). His
appointment is in line with statutory requirements.
10-Aug-18 Federal Bank Ltd. AGM Management Appointment of Mr. Deepak Maheshwari (DIN- 08163253), as an Inde- For For Deepak Maheshwari has been with State Bank of India and in HDFC Bank and
pendent Director of the Bank. has banking experience of over 40 years in various capacities. His appointment
is in line with statutory requirements.
10-Aug-18 Federal Bank Ltd. AGM Management Approval for appointment and payment of remuneration of Rs. 1,50,000/- For For Nilesh Vikamsey, is senior partner at Khimji Kunverji & Co. He has been on
per month (Rs. 18,00,000/- (Rupees Eighteen Lakh only) per annum) to the board for seven years as an independent director; having been appointed
Mr. Nilesh Vikamsey (DIN-00031213), Chairman of the Bank, subject to on 24 June 2011 as an additional director. He was Chairperson of the Bank till
Reserve Bank of India approval. 28 February 2017. The Bank proposes to appoint him again as Chairperson till
the end of his tenure on 23 June 2019 at a remuneration of Rs 1.8 mn p.a. in
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addition to sitting fees. The proposed remuneration is in line with industry peers.
10-Aug-18 Federal Bank Ltd. AGM Management Taking on record the approval accorded by RBI for payment of variable For For Shyam Srinivasan’s remuneration of Rs 15.9 mn for FY18 includes a variable
pay of FY 2016-17 to Mr. Shyam Srinivasan(DIN- 02274773), MD & CEO pay of Rs 2.5 mn for 2016-17 approved by the Reserve Bank of India. The remu-
of the Bank. neration paid to Shyam Srinivasan is in line with that paid to peers in the industry
and size and complexities of the business.
10-Aug-18 Federal Bank Ltd. AGM Management Approval for re-appointment of Mr. Ashutosh Khajuria (DIN 05154975) For For Ashutosh Khajuria was paid a remuneration of Rs 9.9 mn in FY18, including a
as Executive Director of the Bank as approved by RBI and taking on re- performance bonus of Rs 1.5 mn and granted 600,000 ESOPs at a fair value
cord the approval accorded by RBI for payment of remuneration to Mr. of Rs 20.9 mn taking total remuneration to Rs. 30.8 mn. As per our estimates
Ashutosh Khajuria. his proposed remuneration will be ~ Rs 12.0 mn without ESOPs. His proposed
remuneration is in line with peers and reasonable as compared to the bank’s size
and scale of operations.
10-Aug-18 Federal Bank Ltd. AGM Management Taking on record the approval accorded by RBI for payment of variable For For Ashutosh Khajuria’s remuneration for FY18 includes a variable pay of Rs 1.5 mn
pay of FY 2016-17 to Mr. Ashutosh Khajuria (DIN 05154975), Executive for 2016-17 approved by the Reserve Bank of India. The remuneration paid to
Director &CFO of the Bank. Ashutosh Khajuria is in line with that paid to peers in the industry and size and
complexities of the business.
10-Aug-18 Federal Bank Ltd. AGM Management Approval for re-appointment of Mr. Ganesh Sankaran (DIN 07580955) For For Ganesh Sankaran was paid a remuneration of Rs 10.2 mn in FY18, including a
as Executive Director of the Bank for a period of two years from 04th performance bonus of Rs 1.5 mn and granted 1,200,000 ESOPs at a fair value
July 2018. of Rs 49.1 mn taking total remuneration to Rs. 59.3 mn. As per our estimates
his proposed remuneration will be ~ Rs 11.0 mn without ESOPs. His proposed
remuneration is in line with peers and reasonable as compared to the bank’s size
and scale of operations.
10-Aug-18 Federal Bank Ltd. AGM Management Taking on record the approval accorded by RBI for payment of variable For For Ganesh Sankaran’s remuneration for FY18 includes a variable pay of Rs 1.5 mn
pay of FY 2016-17 to Mr. Ganesh Sankaran (DIN 07580955), Executive for 2016-17 approved by the Reserve Bank of India.The remuneration paid to
Director of the Bank. Ganesh Sankaran is in line with that paid to peers in the industry and size and
complexities of the business.
10-Aug-18 Federal Bank Ltd. AGM Management Approval for Raising of Funds through Issuance of Bonds for FY 2018-19. For For These debt instruments issued will be within the bank’s overall borrowing limits.
Federal Bank’s Certificate of Deposits / Short Term deposits are rated CRISIL
A1+. This denotes a high degree of safety regarding timely servicing of financial
obligations.
10-Aug-18 Federal Bank Ltd. AGM Management Approval for increase of the Borrowing power of the Bank by Rs. 12000 For For Federal Bank’s leverage will be comfortable even after raising the additional
Crore over and above the Paid up Capital, free reserves including Securi- debt. Moreover, the bank is required to maintain capital adequacy levels as re-
ties Premium of the Bank pursuant to section 180 (1) (c) of the Companies quired by RBI; hence, Federal Bank’s debt levels will be maintained at manage-
Act, 2013. able levels at all times.
13-Aug-18 Motherson Sumi Systems Ltd. AGM Management Adoption of Financial Statements for the year ended March 31, 2018 For For There is no adverse observation/comment in Audiotrs report/ Financials and
notes to a/cs, hence it can be adopted. The director's report is satisfactory and
can be adopted
13-Aug-18 Motherson Sumi Systems Ltd. AGM Management Declaration of dividend on equity shares For For Company has generated enough Profits to pay dividend to the shareholders and
13-Aug-18 Motherson Sumi Systems Ltd. AGM Management Re-appointment of Mr. Laksh Vaaman Sehgal, who retires by rotation, For For He is eligible for re-election and has relevant experience in the field.
being eligible, seek re-appointment
13-Aug-18 Motherson Sumi Systems Ltd. AGM Management Appointment of Mr. Shunichiro Nishimura as Director of the Company For For He is eligible for election and has relevant experience in the field.
13-Aug-18 Motherson Sumi Systems Ltd. AGM Management Adoption of new set of Articles of Association as per Companies Act, 2013 For For The company proposes to adopt a new set of Articles of Association to align with
the provisions of Companies Act, 2013. Seeking clarification regarding Article 86
of proposed AoA from the management, we were satisfied with their response
that shareholders rights are not being infringed upon and that all shareholders
have the facility to vote through the e-voting mechanism. Further, the manage-
ment stated that "the objective of draft article is to ensure security of meeting
and safety of people attending meeting for an orderly conduct of the physical
814
meeting. Further, the draft articles clearly provides any such decision has to be
taken in good faith by the Board or a person authorised by it and not otherwise"
13-Aug-18 Motherson Sumi Systems Ltd. AGM Management Ratification of the remuneration of the Cost Auditor for the Financial Year For For The total remuneration proposed to be paid to the cost auditors in FY19 is rea-
2018-19 sonable compared to the size and scale of the company’s operations.
17-Aug-18 TV18 Broadcast Ltd. AGM Management "Consideration and adoption of : For For Accounts have been audited following all prescribed rules and regulations
a) Audited Financial Statement for the financial year ended March 31,
2018 and the Reports of the Board of Directors and Auditors thereon
b) Audited Consolidated Financial Statement for the financial year ended
March 31, 2018 and the Report of the Auditors thereon"
17-Aug-18 TV18 Broadcast Ltd. AGM Management Appointment of Mr. P.M.S. Prasad as Director, retiring by rotation For For PMS Prasad is the ED, Reliance Industries Ltd. He retires by rotation and his
reappointment is in line with statutory requirements.
17-Aug-18 TV18 Broadcast Ltd. AGM Management Appointment of Ms. Jyoti Deshpande as Director, liable to retire by ro- For For Ms. Jyoti Deshpande is the President of Media & Entertainment, Reliance Indus-
tation tries Ltd. Her appointment is in line with statutory requirements.
17-Aug-18 TV18 Broadcast Ltd. AGM Management Ratification of the remuneration of the Cost Auditor for the financial year For For The total remuneration proposed to be paid to the cost auditor in FY19 is reason-
ending March 31, 2019 able compared to the size and scale of operations.
17-Aug-18 TV18 Broadcast Ltd. AGM Management Approval for offer or invitation to subscribe to Redeemable Non-Convert- For For The proposed NCDs will be issued within the overall borrowing limit.
ible Debentures on private placement
16-Aug-18 HCL Technologies Limited PBL Management Approval for Buy back of equity shares of the company For For At the buyback price of upto Rs. 1100 per share (10.4% premium to CMP), the
company will buyback around 36.4 mn equity shares resulting in a 2.61% re-
duction in the equity share capital. The promoters will participate in the buyback
upto the extent of their shareholding. The buyback will enable the company to
distribute surplus cash to its shareholders and may improve return ratios.
27-Aug-18 Voltas Limited AGM Management To receive, consider and adopt the Audited Financial Statements for the For For Accounts have been audited following all the prescribed rules and regulations .
financial year ended 31st March, 2018 together with the Report of the
Board of Directors and the Auditors thereon.
27-Aug-18 Voltas Limited AGM Management To receive, consider and adopt the Audited Consolidated Financial State- For For Accounts have been audited following all the prescribed rules and regulations .
ments for the financial year ended 31st March, 2018 together with the
Report of the Auditors thereon.
27-Aug-18 Voltas Limited AGM Management To declare a dividend for the financial year 2017-18 on Equity Shares. For For The total dividend outflow including dividend tax for FY18 is Rs.1.6 bn. The divi-
dend payout ratio for FY18 is 31.8%.
27-Aug-18 Voltas Limited AGM Management To appoint a Director in place of Mr. Vinayak Deshpande (DIN: 00036827), For For Vinayak Deshpande is Managing Director of Tata Projects Limited. He is liable to
who retires by rotation and is eligible for reappointment. retire by rotation and his reappointment is in line with all statutory requirements.
27-Aug-18 Voltas Limited AGM Management Appointment of Mr. Pradeep Bakshi as a Director of the Company For For Pradeep Bakshi is Managing Director and Chief Executive Officer. He is liable
to retire by rotation and his appointment is in line with all statutory requirements.
27-Aug-18 Voltas Limited AGM Management Appointment of Mr. Pradeep Bakshi as Managing Director & CEO of the For For The appointment of Pradeep Bakshi as Executive Director for three years from
Company 1 September 2017 and Managing Director and Chief Executive Officer from 10
February 2018 to 31 August 2020 is in line with the statutory requirements.The
maximum proposed remuneration of Rs.60.2 mn is commensurate with the size
of the business and his responsibilities and in line with the peers. As the com-
pensation structure includes an element of commission and incentive remuner-
ation, the NRC should consider a cap on them.
27-Aug-18 Voltas Limited AGM Management Appointment of Mr. Anil George as a Director of the Company For For Anil George is Deputy Managing Director. He is liable to retire by rotation and his
27-Aug-18 Voltas Limited AGM Management Appointment of Mr. Anil George as Deputy Managing Director of the For For The appointment of Anil George as Executive Director for three years from 1
Company September 2017 and Deputy Managing Director from 10 February 2018 to 31
August 2020 is in line with the statutory requirements.The maximum proposed
remuneration of Rs.43.3 mn is commensurate with the size of the business and
his responsibilities and in line with the peers. As the compensation structure
815
includes an element of commission and incentive remuneration, the NRC should
consider a cap on them.
27-Aug-18 Voltas Limited AGM Management Ratification of Cost Auditor’s Remuneration For For The maximum proposed remuneration of Rs.43.3 mn is commensurate with the
size of the business and his responsibilities and in line with the peers. As the
compensation structure includes an element of commission and incentive remu-
neration, the NRC should consider a cap on them.
23-Aug-18 Larsen And Toubro Limited AGM Management To consider and adopt the audited financial statements of the Company For For Accounts have been audited following all the prescribed rules and regulations .
for the year ended March 31, 2018 and the Reports of the Board of Di-
rectors and Auditors thereon and the audited consolidated financial state-
ments of the Company and the report of the auditors thereon for the year
ended March 31, 2018
23-Aug-18 Larsen And Toubro Limited AGM Management To declare a dividend on equity shares For For The total dividend payout (including dividend distribution tax) for FY18 aggre-
gates to Rs.27.0 bn. The dividend payout ratio for FY18 is 50.1%.
23-Aug-18 Larsen And Toubro Limited AGM Management To appoint a Director in place of Mr. Subramanian Sarma (DIN: For For Subramanian Sarma, 60, retires by rotation. His reappointment is in line with all
00554221), who retires by rotation and is eligible for re-appointment statutory requirements.
23-Aug-18 Larsen And Toubro Limited AGM Management To appoint a Director in place of Mrs. Sunita Sharma (DIN: 02949529), For For Ms. Sharma handled several roles in her illustrious career of over three de-
who retires by rotation and is eligible for re-appointment cades in LIC including as MD & CEO of LIC Housing Finance Ltd. (“LIC HFL”),
Executive Director heading Investments, Executive Director heading Pension &
Group Schemes, Chief (Personnel) and Regional Manager (Estate and Office
Services).
23-Aug-18 Larsen And Toubro Limited AGM Management To appoint a Director in place of Mr. A.M Naik (DIN: 00001514), who re- For For A.M. Naik, 75, is former Executive Chairperson. His reappointment is in line with
tires by rotation and is eligible for re-appointment all statutory requirements
23-Aug-18 Larsen And Toubro Limited AGM Management "To appoint a Director in place of Mr. D.K Sen (DIN: For For D.K. Sen, 62, is on the company’s board since 2015. His reappointment is in line
03554707), who retires by rotation and is eligible for re-appointment" with all statutory requirements.
23-Aug-18 Larsen And Toubro Limited AGM Management "Mr. Hemant Bhargava (DIN: 01922717) who was appointed as a Director in For For Hemant Bhargava, 59, is Managing Director of Life Insurance Corporation of
casual vacancy and holds office upto the date of this Annual General India (LIC). He was appointed to the board to fill the casual vacancy caused
Meeting of the Company" by the resignation of Mr. Soshoban Sarker. His appointment is in line with all
23-Aug-18 Larsen And Toubro Limited AGM Management Approval of the Company be and is hereby accorded for the appointment For For Recent changes in SEBI’s LODR require directors having attained the age of
and continuation of Mr. A.M Naik (DIN: 00001514) as a Non-Executive Di- 75 to be re-approved by shareholders through a special resolution. In line with
rector of the Company with effect from October 1, 2017 who has attained this regulatory change, A. M. Naik’s appointment as a Non-Executive Non-Inde-
the age of seventy-five years pendent Director requires shareholder approval: he is about 75 years old. The
ratification is in line with the statutory requirements
23-Aug-18 Larsen And Toubro Limited AGM Management Approval of the Company be and is hereby accorded for payment of re- For For A.M. Naik’s term as the Executive Chairperson ended on 30 September 2017.
muneration to Mr. A.M Naik (DIN: 00001514), Non-Executive Director of He has now demitted his executive responsibilities and serves the board as its
the Company Non-Executive Chairperson from 1 October 2017, for three years. In addition
to sitting fees, the company proposes to pay A. M. Naik an annual commis-
sion of Rs.50 mn and perquisites. Since the proposed amount will exceed 50%
of commission paid to all non-executive directors, the remuneration requires
shareholder approval via a special resolution. In case of inadequate profits, the
company will not pay him a commission. Further, the company has clarified that
A.M. Naik will not receive stock options. The proposed commission will be within
the stipulated limits under regulations.
23-Aug-18 Larsen And Toubro Limited AGM Management To authorize the Board of Directors of the Company (including any Com- For For The issuance will be within the approved borrowing limit (Rs.20 bn over and
mittee thereof) to offer or invite subscriptions for listed/unlisted/secured/ above the aggregate of paid-up capital and free reserves of the company).
unsecured/ redeemable/non-convertible debentures, in one or more se-
ries/tranches/currencies, aggregating up to R 6000 crore (Rupees Six
thousand crore only), on private placement basis
816
23-Aug-18 Larsen And Toubro Limited AGM Management M/s R. Nanabhoy & Co. Cost Accountants (Regn. No. 00010), who are For For The remuneration to be paid to the cost auditor is reasonable compared to the
appointed as Cost Auditors to conduct the audit of cost records main- size and scale of the company’s operations.
tained by the Company for the Financial Year 2018-19
23-Aug-18 Maruti Suzuki India Ltd. AGM Management "To receive, consider and adopt the financial statements (including the For For There is no adverse observation/comment in Audiotrs report/ Financials and
consolidated financial statements) of the Company for the year ended 31st notes to a/cs, hence it can be adopted. The director's report is satisfactory and
March, 2018 including the audited Balance Sheet as at 31st March, 2018, can be adopted
the statement of Profit and Loss for the year ended on that date and the
reports of the Board of Directors and Auditors thereon."
23-Aug-18 Maruti Suzuki India Ltd. AGM Management To declare dividend on equity shares. For For Company has generated enough Profits to pay dividend to the shareholders and
23-Aug-18 Maruti Suzuki India Ltd. AGM Management "To appoint a director in place of Mr. Toshiaki Hasuike (DIN: 01948291), who For For He is eligible for re-election and has relevant experience in the field.
retires by rotation and being eligible, offers himself for re-appointment"
23-Aug-18 Maruti Suzuki India Ltd. AGM Management "To appoint a director in place of Mr. Kinji Saito (DIN: 00049067), who retires For For He is eligible for re-election and has relevant experience in the field.
by rotation and being eligible, offers himself for re-appointment."
23-Aug-18 Maruti Suzuki India Ltd. AGM Management "Appointment of Mr. Kazunari Yamaguchi (DIN: 07961388) as a Whole-time For For He is eligible for election and has relevant experience in the field.
Director designated as Director (Production)."
23-Aug-18 Maruti Suzuki India Ltd. AGM Management "Ratification of remuneration of the cost auditors, M/s R. J. Goel & Co., cost For For The total remuneration proposed is reasonable compared to the size and scale
accountants." of the company’s operations
23-Aug-18 Maruti Suzuki India Ltd. AGM Management Amendment in Articles of Association of the Company. For For The company proposes to modify the existing Article 76(4), by deleting the words
“who shall be a non-retiring Director”. Post the proposed amendment, the Man-
aging Director shall continue to be a Suzuki nominee and will be liable to retire
by rotation.
23-Aug-18 Maruti Suzuki India Ltd. AGM Management Continuance of appointment of Mr. R.C.Bhargava (DIN: 00007620) as a For For He is eligible for re-election and has relevant experience in the field.
non executive director.
23-Aug-18 Maruti Suzuki India Ltd. AGM Management "Continuance of appointment of Mr. O. Suzuki (DIN: 00680073) as a For For He is eligible for re-election and has relevant experience in the field.
nonexecutive director"
25-Aug-18 Astral Poly Technik Ltd. AGM Management To receive, consider and adopt, the Audited Financial Statements of the For For Accounts have been audited following all prescribed rules and regulations
Company (Including Consolidated Financial Statement) for the financial
year ended 31st March, 2018, together with the reports of Directors and
Auditors thereon; and
25-Aug-18 Astral Poly Technik Ltd. AGM Management To confirm Interim Dividend on Equity Shares declared by the Board of For For Dividend payout is beneficial to shareholders
Directors.
25-Aug-18 Astral Poly Technik Ltd. AGM Management To declare Final Dividend on Equity Shares For For Dividend payout is beneficial to shareholders
25-Aug-18 Astral Poly Technik Ltd. AGM Management To consider re-appointment of Mrs. Jagruti Engineer (DIN: 00067276) as For For His appointment is line with statutory requirements.
the Whole-time Director who retires by rotation and being eligible, offers
herself for re-appointment.
25-Aug-18 Astral Poly Technik Ltd. AGM Management To consider re-appointment of Mr. Sandeep Engineer (DIN: 00067112) as For For His appointment is line with statutory requirements.
the Managing Director
25-Aug-18 Astral Poly Technik Ltd. AGM Management To ratify appointment of Mr. K. R. Shenoy (DIN: 00801985) as an Inde- For For As per our management interaction, Mr Shenoy has been valuable to the strate-
pendent Director for present tenure. gy formulation of the company
25-Aug-18 Astral Poly Technik Ltd. AGM Management To ratify appointment of Mr. Narasinh K. Balgi (DIN: 00163468) as an For For As per our management interaction, Mr Balgi has been valuable to the strategy
Independent Director for present tenure. formulation of the company
25-Aug-18 Astral Poly Technik Ltd. AGM Management To ratify remuneration of the Cost Auditors for the financial year ending For For This is line with statutory requirements
31st March, 2019.
28-Aug-18 Bharti Airtel Ltd. CCM Management Approval of the composite scheme of arrangement between Tata Teleser- For For With the acquisition of the consumer mobile undertaking of TTL, Bharti Airtel will
817
vices Limited, Bharti Airtel Limited and Bharti Hexacom Limited and their add TTL’s subscribers to its subscriber base. Bharti Airtel does not assume any
respective shareholders and creditors under Sections 230 to 232 of the debt on account of the acquisition and will instead only issue a nominal amount
Companies Act, 2013 and other matters incidental thereto of preference shares to the shareholders of TTL. Further, it allows Bharti Airtel
to increase its market share at a time when consolidation is taking place across
the telecom industry
23-Aug-18 UPL Limited AGM Management Adoption of the Audited Standalone and Consolidated Financial State- For For There is no adverse observation/comment in Audiotrs report/ Financials and
ments of the Company for the Financial year ended on 31st March, 2018 notes to a/cs, hence it can be adopted. The director's report is satisfactory and
can be adopted
23-Aug-18 UPL Limited AGM Management "a) Approval of Dividend on equity shares for the financial year ended For For Company has generated enough Profits to pay dividend to the shareholders and
31st March, 2018. in the line with market practise.
b) Ratification of payment of dividend on Preference Shares."
23-Aug-18 UPL Limited AGM Management Re-appointment of Mr. Vikram Rajnikant Shroff (DIN: 00191472), Non-Ex- For For He is eligible for re-election and has relevant experience in the field.
ecutive Director who retires by rotation.
23-Aug-18 UPL Limited AGM Management Re-appointment of Mr. Arun Chandrasen Ashar (DIN: 00192088), Whole- For For He is eligible for re-election and has relevant experience in the field.
time Director who retires by rotation.
23-Aug-18 UPL Limited AGM Management Ratification of remuneration of the Cost Auditors for the financial year For For It is required under Companies Act.
ending March 31, 2019.
23-Aug-18 UPL Limited AGM Management Private placement of Non-Convertible Debentures. For For The proposed NCDs will be issued within the overall borrowing limit of Rs.100
bn. The NCDs are rated CARE AA+, which reflects high degree of safety regard-
ing timely servicing of financial obligations.
23-Aug-18 UPL Limited AGM Management Re-appointment of Mr. Rajnikant Devidas Shroff (DIN:00180810) as For For He is eligible for re-election and has relevant experience in the field.
Chairman and Managing Director of the Company, for a further period
of 5 (five) years.
23-Aug-18 UPL Limited AGM Management Re-appointment of Mr. Arun Chandrasen Ashar (DIN:00192088) as For For He is eligible for re-election and has relevant experience in the field.
Whole-time Director designated as Director-Finance of the Company, for
a further period of five years.
24-Aug-18 Vedanta Limited AGM Management To receive, consider and adopt the Audited Financial Statements (stand- For For Accounts have been audited following all the prescribed rules and regulations
alone & consolidated) of the Company for the financial year ended March
31, 2018 along with the reports of the Directors and Auditors thereon.
24-Aug-18 Vedanta Limited AGM Management (a) To confirm the payment of First Interim Dividend of Rs. 21.20 per For For "(a) The total outflow on account of dividend payout aggregates to Rs.94.9 bn includ-
equity share for the financial year ended March 31, 2018. ing dividend distribution tax. The dividend payout ratio is 130.8% v/s 77.2% in FY17.
(b) To confrim the payment of Preference Dividend of Rs. 0.75 per (b) On 28 April 2017, Vedanta issued 3.01 bn 7.5% preference shares of Rs.10
preference share @ 7.5% on pro-rata basis payable uptill the end of FY each aggregating to Rs.30.1 bn to non-controlling shareholders of Cairn India as
2017-18. a part consideration for merger with Cairn India. On pro-rata basis the dividend
on preference shares aggregates to Rs.2.5 bn (including dividend tax)."
24-Aug-18 Vedanta Limited AGM Management To appoint Mr. GR Arun Kumar (DIN:01874769), who retires by rotation For For GR Arun Kumar is the Chief Financial Officer of the company. His reappointment
and being eligible, offers himself for re-appointment as a Director. is in line with all statutory requirements.
24-Aug-18 Vedanta Limited AGM Management To consider re-appointment of Mr. Navin Agarwal (DIN: 00006303) as For For Navin Agarwal is one of the founders of the company. He is associated with the
Whole-time Director of the Company for the period of 5 years w.e.f. Au- company for over 25 years. He is Executive Chairperson of Vedanta Limited and
gust 01, 2018. Executive Vice Chairperson of holding company – Vedanta Resources PLC. His
proposed remuneration is estimated at Rs.239 mn. This is commensurate with
the size and scale of the company’s operations.
24-Aug-18 Vedanta Limited AGM Management To consider re-appointment of Ms. Lalita D. Gupte (DIN:00043559) as an For For Ms. Lalita D Gupte is the former joint-managing director of ICICI Bank. Her reap-
Independent Director for a second and final term effective from January pointment is in line with all statutory requirements.
29, 2018 to August 10, 2021.
24-Aug-18 Vedanta Limited AGM Management To consider re-appointment of Mr. Ravi Kant (DIN:00016184) as an Inde- For For Ravi Kant is the former Managing Director and Vice Chairman of Tata Motors.
818
pendent Director for a second and final term effective from January 29, His reappointment is in line with all statutory requirements.
2018 to May 31, 2019.
24-Aug-18 Vedanta Limited AGM Management Appointment of Mr. U. K. Sinha (DIN:00010336) as an Independent Direc- For For UK Sinha is the former Chairperson of Securities and Exchange Board of India.
tor for a for a fixed term effective from March 13, 2018 till August 10, 2021. His appointment is in line with all statutory requirements.
24-Aug-18 Vedanta Limited AGM Management To consider re-appointment of Mr. Tarun Jain (DIN:00006843) as Whole For For Tarun Jain is a Chartered Accountant with over 35 years of experience in cor-
Time Director of the Company for the period April 1, 2018 to March 31, porate finance, corporate strategy, business development and mergers and
2019. acquisitions. His proposed remuneration is estimated at Rs.134.5 mn. This is
commensurate with the size and complexity of the company’s operations. The
company must disclose the value of stock options he is likely to be granted
each year.
24-Aug-18 Vedanta Limited AGM Management To ratify the remuneration of Cost Auditors for the financial year ending For For The total remuneration proposed to be paid to the cost auditors is reasonable
March 31, 2019. compared to the size and scale of operations.
24-Aug-18 Vedanta Limited AGM Management To approve offer or invitation to subscribe the Non- Convertible Deben- For For The issuance will be within approved borrowing limits of Rs.800 bn. The com-
tures or other Debt Securities upto 20,000 crores on a Private Placement pany’s borrowing programmes are rated CRISIL AA/Positive/CRISIL A1+: these
basis. ratings denote a high degree of safety with respect to timely servicing of financial
obligations.
22-Aug-18 Infosys Ltd. PBL Management Increase in authorized share capital to enable issue of bonus shares For For This is inline with statutory requirements
22-Aug-18 Infosys Ltd. PBL Management Alteration of Clause V of Memorandum of Association to reflect the in- For For This is inline with statutory requirements
crease in the authorized share capital proposed under Item no. 1 for the
issue of bonus shares
22-Aug-18 Infosys Ltd. PBL Management Approval for the issue of bonus shares For For This is inline with statutory requirements
22-Aug-18 Infosys Ltd. PBL Management Appointment of Michael Gibbs as an Independent Director For For This is inline with statutory requirements
28-Aug-18 AVENUE SUPERMARTS LIMITED AGM Management To receive, consider and adopt the Standalone and Consolidated Audited For For Accounts have been audited following all prescribed rules and regulations
Accounts of the Company along with the reports of the Board of Directors
and Auditors thereon.
28-Aug-18 AVENUE SUPERMARTS LIMITED AGM Management Re-appointment of Mr. Ramakant Baheti (DIN: 00246480) who retires by For For His appointment is line with statutory requirements.
rotation and being eligible, offers himself for re-appointment.
28-Aug-18 AVENUE SUPERMARTS LIMITED AGM Management Ratification of S R B C & Co. LLP, Chartered Accountants (Firm Registra- For For This is line with statutory requirements
tion No.: 324982E/E300003) as the Statutory Auditors of the Company.
28-Aug-18 AVENUE SUPERMARTS LIMITED AGM Management To offer / issue secured, rated, cumulative, redeemable non-convertible For For The NCDs issued will be within the overall borrowing limit of the company. The
debentures up to an amount not exceeding Rs. 1,500 crores (Rupees NCD’s currently are rated CRISIL AA and carry a positive outlook.
One Thousand and Five Hundred Crore only).
28-Aug-18 AVENUE SUPERMARTS LIMITED AGM Management To approve re-appointment of Mr. Elvin Machado as a Whole-time Direc- For For His appointment is line with statutory requirements.
tor for a period of 3 (three) years w.e.f. 10th June, 2018.
28-Aug-18 AVENUE SUPERMARTS LIMITED AGM Management To approve appointment of Ms. Kalpana Unadkat (DIN: 02490816) as an For For Her appointment is line with statutory requirements.
Independent Director for a period of 5 (five) years w.e.f. 30th July, 2018.
28-Aug-18 L&T Finance Holdings Ltd. AGM Management "Adoption of financial statements for the year ended March 31, 2018 For For Accounts have been audited following all prescribed rules and regulations
together with the reports of the Board of Directors and Auditors
thereon."
28-Aug-18 L&T Finance Holdings Ltd. AGM Management Declaration of dividend on Equity Shares. For For The dividend proposed is Rs. 1.0 per share (face value Rs. 10.0) up 25% from
Rs 0.8 per share paid in FY17 on account of a 47.9% growth in standalone
profitability and pay-out ratio is 54.3%.
28-Aug-18 L&T Finance Holdings Ltd. AGM Management Appointment of a director in place of Mr. Dinanath Dubhashi (DIN: For For Dinanath Dubhashi is the Managing Director & Chief Executive Officer of L&T
03545900), who retires by rotation, and being eligible, offers himself for Finance Holdings Ltd. His reappointment is in line with all statutory requirements
re-appointment.
28-Aug-18 L&T Finance Holdings Ltd. AGM Management Appointment of Dr. (Mrs.) Rajani R. Gupte (DIN: 03172965) as an Inde- For For Dr. Rajani Gupte is Vice Chancellor of Symbiosis International University, Pune.
819
pendent Director of the Company She is a Ph.D. in Economics from Gokhale Institute of Politics and Economics;
Pune University. Her appointment is in line with all statutory requirements.
28-Aug-18 L&T Finance Holdings Ltd. AGM Management Appointment of Mr. Prabhakar B. (DIN: 02101808) as a Non-Executive For For Prabhakar B. was a banker for over 37 years with various banks and retired
Director of the Company as CMD of Andhra Bank in August 2013. He is a Chartered Accountant. His
28-Aug-18 L&T Finance Holdings Ltd. AGM Management Issuance of Non-Convertible Debentures/Bonds on a private placement For For The NCDs issued will be within the overall borrowing limit of the company. LT-
basis. FHL has an outstanding credit rating of ICRA AA+/Stable/ICRA A1+, IND AAA/
Stable/IND A1+, which denotes high degree of safety regarding timely servicing
of financial obligations
28-Aug-18 L&T Finance Holdings Ltd. AGM Management Issuance of Cumulative Compulsorily Redeemable Non-Convertible Pref- For For The preference shares will be redeemable at a maximum period of 7 years.
erence Shares by way of public offer or on a private placement basis. Because the preference shares are non-convertible, there will not be any equity
dilution. Given that LTFHL is a core investment company (CIC), the preference
shares are raised for onward lending to the finance group / companies. Even if
the redeemable preference capital is treated in the nature of long term debt, the
change in credit metrics of the company is marginal.
12-Sep-18 ICICI Bank Ltd. AGM Management Adoption of Financial Statements for the financial year ended March 31, For For Accounts have been audited following all the prescribed rules and regulations
2018 and have no adverse comments from Auditors
12-Sep-18 ICICI Bank Ltd. AGM Management Confirmation of interim dividend on preference shares and declare the For For Payment of dividend on prefernce shares has no negative impact for minority
interim dividend as final dividend shareholders
12-Sep-18 ICICI Bank Ltd. AGM Management Declaration of dividend on equity shares For For Payment of dividend has no negative impact for minority shareholders
12-Sep-18 ICICI Bank Ltd. AGM Management Re-appointment of Mr. Vijay Chandok (DIN:01545262) who retires by ro- For For His re-appointment is in line with all statutory requirements
tation and, being eligible, offers himself for re-appointment
12-Sep-18 ICICI Bank Ltd. AGM Management Appointment of Statutory Auditors For For Their appointment is in line with all statutory requirements
12-Sep-18 ICICI Bank Ltd. AGM Management Appointment of Branch Auditors For For ICICI Bank has a presence in 17 countries. The bank seeks shareholder approv-
al to authorize the board to appoint branch auditors to audits its branches/offices
outside India for the year ending 31 March 2019 and to fix their remuneration.
The appointment will be in consultation with the statutory auditors of the bank
12-Sep-18 ICICI Bank Ltd. AGM Management Appointment of Ms. Neelam Dhawan (DIN:00871445) as an Independent For For Her appointment is in line with all statutory requirements
Director
12-Sep-18 ICICI Bank Ltd. AGM Management Appointment of Mr. Uday Chitale (DIN:00043268) as an Independent For For His appointment is in line with all statutory requirements
Director
12-Sep-18 ICICI Bank Ltd. AGM Management Appointment of Mr. Radhakrishnan Nair (DIN:07225354) as an Indepen- For For His appointment is in line with all statutory requirements
dent Director
12-Sep-18 ICICI Bank Ltd. AGM Management Appointment of Mr. M. D. Mallya (DIN:01804955) as an Independent For For His appointment is in line with all statutory requirements
Director
12-Sep-18 ICICI Bank Ltd. AGM Management Appointment of Mr. Girish Chandra Chaturvedi (DIN:00110996) as an For For His appointment is in line with all statutory requirements
Independent Director
12-Sep-18 ICICI Bank Ltd. AGM Management Appointment of Mr. Girish Chandra Chaturvedi (DIN:00110996) as For For ICICI Bank proposes a remuneration of Rs. 3,500,000 p.a. for the first year, Rs
Non-Executive (Part-time) Chairman 4,000,000 p.a. for the second year and Rs 4,500,000 p.a. for the third year. In
addition, he will be paid a sitting fees and perquisites. The proposed remunera-
tion is in line with the size and complexity of the business and comparable with
that paid to peers in the industry.
12-Sep-18 ICICI Bank Ltd. AGM Management Appointment of Mr. Sandeep Bakhshi (DIN:00109206) as Director For For His appointment is in line with all statutory requirements.
12-Sep-18 ICICI Bank Ltd. AGM Management Ordinary Resolution for appointment of Mr. Sandeep Bakhshi (DIN: For For Sandeep Bakhshi was paid a remuneration of Rs 170 mn from ICICI Pruden-
820
00109206) as Wholetime Director and Chief Operating Officer (Desig- tial Life Insurance Company (incl. the fair value of ESOPs granted). His fixed
nate) remuneration is Rs 62.2 mn and including the fair value of ESOP’s, as per our
estimates, is Rs 192.2 mn. The proposed remuneration is consistent with the
size and complexities of the business of ICICI Bank and comparable to that paid
to Sandeep Bakhshi’s peers in the industry
12-Sep-18 ICICI Bank Ltd. AGM Management Amendment to Capital Clause of the Memorandum of Association For For The authorised share capital of ICICI Bank comprised of Rs. 25,000,000,000 di-
vided into: (i) 10,000,000,000 equity shares of Rs. 2 each, (ii) 15,000,000 shares
of Rs 100 each and (iii) 350 shares of Rs 10,000,000 each. The bank proposes
to reclassify the unclassified 15,000,000 shares of Rs. 100 each as well as the
350 shares of Rs 10,000,000 each redeemed on 20 April 2018 as equity capital.
This reclassification will require a consequent change to the capital clause of
the MoA.
12-Sep-18 ICICI Bank Ltd. AGM Management Amendment to Article 5(a) of the Articles of Association For For Reclassification in the authorised capital requires a consequent change to the
AoA
12-Sep-18 ICICI Bank Ltd. AGM Management Amendment to the definition of Exercise Period under Employees Stock For For ICICI Bank proposes to revise the exercise period from a period upto 10 years
Option scheme-2000 from vesting to a period upto 5 years from vesting as decided by the Board
Governance, Nomination and Remuneration Committee. The amendment is
intended to cover only future grants and not grants already made. The present
definition is fixed and does not allow flexibility to align the exercise period of

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Annual Report - 2018-2019

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

3. INVESTMENT OBJECTIVES OF THE SCHEMES

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

For Axis Mutual Fund Trustee Limited

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

TRUSTEE REPORT (Contd.)

^ Schemes launched during the F.Y. 2018-19

INDEPENDENT AUDITOR’S REPORT

Report on the Audit of the Financial Statements

Basis for Opinion

Responsibilities of Management for the Financial Statements

Auditor’s Responsibilities for the Audit of the Financial Statements

Report on Other Legal and Regulatory Requirements

2. As required by the Eight Schedule of the SEBI Regulations, we report that:

For S.R. Batliboi & Co. LLP

Place of Signature: Mumbai

INDEPENDENT AUDITOR’S REPORT

Report on the Audit of the Financial Statements

Basis for Opinion

Responsibilities of Management for the Financial Statements

Auditor’s Responsibilities for the Audit of the Financial Statements

Report on Other Legal and Regulatory Requirements

For S.R. Batliboi & Co. LLP

Place of Signature: Mumbai

INDEPENDENT AUDITOR’S REPORT

Report on the Audit of the Financial Statements

Basis for Opinion

Responsibilities of Management for the Financial Statements

Auditor’s Responsibilities for the Audit of the Financial Statements

Report on Other Legal and Regulatory Requirements

2. As required by the Eight Schedule of the SEBI Regulations, we report that:

For S.R. Batliboi & Co. LLP

Place of Signature: Mumbai

INDEPENDENT AUDITOR’S REPORT

Report on the Audit of the Financial Statements

Basis for Opinion

Responsibilities of Management for the Financial Statements

Auditor’s Responsibilities for the Audit of the Financial Statements

Report on Other Legal and Regulatory Requirements

2. As required by the Eight Schedule of the SEBI Regulations, we report that:

For S.R. Batliboi & Co. LLP

Place of Signature: Mumbai

INDEPENDENT AUDITOR’S REPORT

Report on the Audit of the Financial Statements

Basis for Opinion

Responsibilities of Management for the Financial Statements

Auditor’s Responsibilities for the Audit of the Financial Statements

Report on Other Legal and Regulatory Requirements

2. As required by the Eight Schedule of the SEBI Regulations, we report that:

For S.R. Batliboi & Co. LLP

Place of Signature: Mumbai

INDEPENDENT AUDITOR’S REPORT

Report on the Audit of the Financial Statements

Basis for Opinion

Responsibilities of Management for the Financial Statements

Auditor’s Responsibilities for the Audit of the Financial Statements

Report on Other Legal and Regulatory Requirements

2. As required by the Eight Schedule of the SEBI Regulations, we report that: